1. Eldorado Gold Corporation (AMEX:EGO - News), announcd the results of a pre-feasibility study and preliminary economic analysis of the Vila Nova Iron Ore Project in Amapa State, Brazil, in which EGO has the right to earn a 50% interest. To my knowledge, EGO is the only Gold company with an interest in an iron project.
2. Penny stock Golden Phoenix Minerals, Inc. (OTC Bulletin Board: GPXM - News) announced that the Company has finalized a Settlement Agreement and Mutual Release with F.W. Lewis, Inc., The Frank Lewis Revocable Living Trust, and The Sharon F. Lewis Trust, resolving a contract dispute concerning a former lease at its Contact Mine located in Elko County, Nevada and resulting in the elimination of approximately $3.25 million in current liabilities on the Golden Phoenix Balance Sheet. GPXM is a Nevada-based mining company with interests in Gold, Silver and Molybdenum properties.
3. Gammon Lake Resources Inc., (GRS) a Canada-based miner with properties in Mexico, on Tuesday said a sampling of its Ocampo underground mine in northern Mexico shows new evidence of high grade gold and silver. GRS has been hot recently, announcing last Thursday that its Ocampo Gold-Silver Mine has reached commercial production. Following such announcement, GRS is now producing at an annualized production run rate of 400,000 gold equivalent ounces (208,000 ounces of gold and 8.9-million ounces of silver) based on combined production from Gammon Lake's Ocampo and El Cubo Mines in Mexico.
4. Royal Dutch Shell evacuated staff from two oil installations in southern Nigeria and the military boosted troop levels in the volatile area Tuesday after a dozen village elders were killed in a riverboat attack, officials said. Production had not been affected by the clashes however. A few days ago, 9 South Koreans had also been kidnapped in Nigeria. Oil has been little aided by the recent incidents and seems to want to test $50 before any meaningful bounce. I think a $45 entry for oil would be reasonable, considering that we've had a breakdown from a 3 month-long consolidation. However, we'll definitely get a bounce before $45.
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