This was on the wires this morning. Nice to see Medinah
mentioned in a internationally read brief about developments in gold:
(COMTEX) B: BRIDGE UPDATE--PRECIOUS METALS: Morgan Stanley cuts 1999
B: BRIDGE UPDATE--PRECIOUS METALS: Morgan Stanley cuts 1999 gold view
Jun. 28-MAR--
[B] BRIDGE UPDATE--PRECIOUS METALS: Morgan Stanley cuts 1999 gold view
Monday, Jun 28, 1999--0320 GMT
........................................................................
.. .... TOP STORIES:
MORGAN STANLEY ANALYST CUTS '99 GOLD VIEW TO $275/OZ VS $290
New York--Jun 25--Morgan Stanley precious metal equity analyst Doug
Cohen is reducing his 1999 average gold price forecast to $275 per
ounce from $290 per ounce and is also reducing his 2000 forecast to
$295 per ounce from $310 per ounce. Cohen also cut his long-term
forecast for 2001 and beyond to $310perounce from $325 an ounce. (Story
.16484) CANADA PRESS: ROYAL OAK RECEIVER SAYS CLOSE TO GOLD ASSET SALE
Toronto--Jun 25--PricewaterhouseCoopers, the receiver for Canada's
insolvent Royal Oak Mines Inc., is confident that all of the company's
gold mining assets can be sold, or be under contract to be sold, by the
end of August, according tothe Globe and Mail. The Ontario Superior
Court extended the deadline to Jly 9 for the receiver to get letters of
intent for the BritishColumbia Kemess mine.(Story .16809)
........................................................................
.. .... OF INTEREST:
FULL: CERRO DORADO TO ACQUIRE 60% STAKE IN CHILE GOLD PPTIES
New York--Jun 25-- Cerro Dorado Inc. agreed to acquirea 60% interest
in the Isle D'Ipun Gold Properties in Southern Chile, buying the stake
from Medinah Gold Inc. Cerro Dorado will issue to 500,000 shares for
the 60% stake and 100,000 shares to for reimbursement of costs and
expenses incurred by Medinah to date. (Story . 15343)
US DLA SOLD 9,972 OZ PALLADIUM, 480 OZ IRIDIUM ON THURSDAY
Washington--Jun 25--The US Defense Logistics Agency sold a total of
9,972.11 troy ounces of palladium and 479.558 troy ounces of iridium on
Thursdayfrom itsWeb site sales. (Story .2354)
NY PRECIOUS METALS REVIEW: AUG GOLD DOWN $1.60 ON FUND SELLING
Washington--Jun 25--NY Aug gold futures settled down $1.60 at
$260.80 per ounce on fund and dealer selling ahead of the weekend in
technically motivated, thin trading. Traders said fund selling into the
recent rally triggered sell stops at $260.70-260.80, causing Aug to
slip as much as $2.40 to a low of $260.
Jly silver futures fell in sympathy with gold on dealer selling,
settlingdown6.5 cents at $5.065 per ounce. (Story .2333)
........................................................................
.. .... SPOT NEWS LINKS: Gold news stories from Bridge News
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........................................................................
.. .... THE MARKETS: .2333--NY Precious Metals Review
.2270--Europe Precious Metals Review .2200--Asia Precious Metals Review
.2192--TOCOM Precious metals Review
.2300--London PM Gold fix .2301--London AM Gold fix
.2311--London Silver fix
.2076--London platinum fix .2078--London palladium fix
.2099--Russia central bank gold, silver, platinum buying prices
.2115--COMEX gold and silver warehouse stocks
.2108--NYMEX platinum, palladium warehouse stocks
.2344, .2359, .2373--COMEX/NYMEX option open interest
.2107, .2106--Commitments: COMEX gold, silver futures
.2202--BRIDGE UPDATE: Base Metals
.2330--Minor Metals/noble alloys: Weekly prices in US, Asia and Europe
.2353--Canada Metals Briefs
.2280--GLOBAL METALS CALENDAR: Key events to watch
.5659--Complete list of Bridge regular precious metal stories
.900--US FX Review More to follow...
*** end of story ***
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