Major mining companies’ takeover party of the last few years is starting to yield a globalized hangover of epic scope. Many of the world’s top producers of primary materials have found that the belle of the ball they danced with and wed in better times has turned into a debt anchor chained to their balance sheets.

Asia, which accounts for 60 per cent of the world gold imports, has overtaken the US in gold futures trading, with Mumbai and Shanghai exchanges growing rapidly, leading trade magazine Futures Industry has reported.

GREENSBURG, Indiana, Nov 17 (Reuters) - The rest of the country may have been debating the possible bankruptcy of America's iconic automakers on Monday, but in southeast Indiana more than 1,000 U.S. workers were cheering the opening of Honda's newest assembly plant.

Last week was about the three R’s - recession, recession, recession - as the Eurozone, Germany and Italy all saw their economies contract for a second consecutive quarter.

MOSCOW -- Russia's central bank signalled on Tuesday it was prepared to allow a sharp depreciation of the rouble as it lowered the floor at which it would defend the struggling currency, while capital outflows from the country took their toll on foreign exchange reserves.

Leading indicators continued to point to a deteriorating economic outlook as the IMF again cut its forecast for growth in 2009. Confidence has been threadbare of late and such extraordinary times call for extraordinary actions. Right on queue, the US elected a new president and UK interest rates were slashed by an unprecedented 150bps, three times the cut in the Eurozone.

The US government budget deficit will rise sharply in 2009 and 2010. Recession will reduce tax revenue and raise social spending, the incoming Obama administration will implement (expansionary) fiscal measures and the financial sector support package will be costly.

Gold held steady in London on Thursday morning, trading just shy of $745 per ounce as world stock markets sank to a one-week low and UK interest rates were slashed to their cheapest level in more than five decades.

LIMA, Nov 3 (Reuters) - Inca Pacific delayed its Magistral project on Monday, the latest sign that miners, especially small ones, are struggling to bring projects into production as financing dries up and metals prices drop.

The statement issued by the Bank of Canada following Tuesday’s policy meeting, when the overnight rate was cut by 25 basis points to 2.25%,

Gold slumped yet again early Thursday as world stock markets sank and the Dollar continued to rise – alongside the Japanese Yen – on the forex market.

IMA Exploration Inc. (TSX VENTURE: IMR)(AMEX: IMR)(FRANKFURT: IMT)(WKN 884971) is on the hunt for a major acquisition. Despite the hemorrhaging ongoing in equity markets, IMA is cashed up and aggressively seeking advanced, near-term production assets to sink its considerable technical teeth into.

slipped 2.1% early Tuesday from an overnight high of $910 per ounce, but the London Fix recorded its best level in seven weeks as Western stock markets tumbled yet again.

Central banks may be starting to turn to one of the few assets in which they can invest: gold.

And so it goes. Lehman, (NYSE:LEH) unable to find a buyer, is in Chapter 11, while Merril Lynch (NYSE:MER) has sold itself to the Bank of America (NYSE:BA). More write-downs, more losses, more capital evaporated that was artificially conjured out of thin air anyway.

Canada merchandise trade surplus slipped in July to C$4.9 billion from June's revised surplus of C$5.6 billion (originally reported as C$5.8 billion). July's surplus was much smaller than market forecasts for a C$5.6 billion overrun. Exports rose by 2.2%, while imports rose by a stronger 4.6% in the month.

The phone rang. And rang. And rang. For the first time since May, there was actually a steady stream of incoming calls from resource company executives who, also for the first time in months, sounded upbeat and determined.

Gold rose sharply in Asia and London on Thursday, touching a one-week high of $830 per ounce to recover one third of this month's near-20% drop.

On the off chance you've been lulled by the soothing media stories quoting this expert and that analyst stating that the worst is over for the global economic crisis slowly unfolding, there are plenty of second opinions to suggest that we're about half way there.

If there was any doubt that junior uranium exploration companies are facing an uphill battle to regain lost value, Cameco's (TSX:CCO, NYSE:CCJ) awful quarter should remove it. And this week just compounded pain upon misery.

Gold gave back all of a 1.5% rally late-morning in London on Wednesday, dropping below $815 per ounce in thin but frantic trade as the US Dollar continued to rally against pretty much everything.

In further evidence of the deteriorating commodities market, the S&P TSX Venture index dipped well below 2,000 for the first time since September 13, 2005. In that year, the market bottomed in May just under 1600 points before going on to set a then all-time record high of 3309.

Housing starts sank 13.6% in July to an annualized 186,500 units from a downwardly revised 215,900 in June (originally reported as 217,800).

The world's number one producer of Copper is Chile, and there is no sign that 2009 will see any slowdown in activity. Copper is central to Chile's economy and the country's largest mines, such as those owned by state run copper company Codelco, pay some of the highest wages, averaging $40,000 a year.

The oil sands of Alberta have overtaken Saudi Arabia as the world's next source of long lived petroleum reserves. Never mind that they're wrapped up in sand - technology renders that issue less important on a daily basis. Conventional oil too, is still present in Alberta, though its been a while since anything major has been discovered.

One of the many side effects of the annual August weakness in TSX Venture-listed company share prices is the inevitable takeovers that crop up as the majors are able to acquire resources at a relatively deep discount.

It is the forecaster's prerogative to revise the outlook. And whether it's the weather, a flight arrival or the economy, the closer we are to the event, the clearer the forecast becomes. Recent turmoil has prompted sizable changes to the near-term economic outlook. What are pundits now saying?

Following a week away enjoying the challenges and wonders of golf in British Columbia's Okanagan Valley...

The extraordinary surge in short-term business lending at the end of last year clearly demonstrates how businesses managed to cope with tumultuous financial markets. The credit crisis dried up liquidity on credit markets, spreads rose through the roof while volatility was surging on stock exchanges, all making for extremely unfavourable conditions for the issuance of debt and equities.

Potash One Target Price of $8.80 Issued by GMP Securities

GMP Securities, one of Canada's most widely respected investment banks issued a 31 page buy recommendation on Potash One (TSX.V:KCL) yesterday, suggesting a target price of $8.80 per share, a premium of 125% to yesterday's close of $3.90.

Puget Ventures (TSX:PVS) joined the ranks of Canadian Exploration companies focused on base metals in politically stable jurisdictions when it commenced trading on the TSX Venture exchange last month. The company launched itself with the Trout Bay joint venture project with Goldcorp (TSX:G).

Potash North Rises 670% on First Day of Trading

New TSX Venture issuer Potash North Corp. (TSX.V:PON) put on nearly $40 million in value Wednesday with the debut of its shares. The company acquired a 185,000-acre land position in Saskatchewan's potash belt 20 km away from Mosaic's (NYSE:MOS) and Potash Corp.'s (TSX:POT)_Esterhazy operations, and 45 kilometres north of Potash Corp.'s Rocanville Mine.

New Potash Deal Starts Trading Today

A much anticipated new potash company commenced trading on the TSX Venture exchange today. Potash North Corporation (TSX.V:PON) was previously named Timer Explorations Inc (TSX.V:TES) and was an inactive exploration company.

Lehman Brothers Holdings Inc (NYSE:LEH) shares continue to hemorrhage in value as losses mount from exposure to "very large, illiquid assets". The fourth largest securities firm is expected to announce an equity sale to raise up to $4 Billion to replenish its supply of capital. And there is increasing speculation that the company could go the way of Bear Stearns.

U.S. Navy aircraft violates Venezuela's airspace

Barrick Gold Makes Record $514 Million Profit

There seems to be too much focus on the spot price of uranium, which is a continuation of the destabilizing impact of traders and hedge funds. They were the ones that took the price to $136/lb, and when this move was exposed as being unrealistic, there was a scramble to get out.

In today's only major economic release in Canada and the United States, the U.S. ISM non-manufacturing index increased to 52 in April from 49.6 in March contrary to market expectations calling for a slight drop in the index.

A study released today by Irvine, California-based RealtyTrac reports a 23 percent increase in foreclosure filings over Q4 last year, and 112% increase over the first quarter of 2007. The study, called the "Q1 2008 U.S. Foreclosure Market Report", shows foreclosure filings - default notices, auction sale notices and bank repossessions - were reported on 649,917 properties during the first quarter, a 23 percent increase from the previous quarter and a 112 percent increase from the first quarter of 2007. The report also shows that one in every 194 U.S. households received a foreclosure filing during the quarter.

Northern Freegold Resources Ltd. (TSX.V:NFR) announced today it has commenced drilling in the Nucleus Zone on the district scale 166 square km Freegold Mountain project in the Yukon Territory.

New home sales fell 8.5% in March to an annualized level of 526,000 units. The level of sales in February was revised down to 575,000 units from an initially reported 590,000.

VMS Ventures reported some outstanding additional results on the Reed project near Snow Lake, Manitoba, including over a hundred feet of 2.69 percent copper.

The Bank of Canada cut the overnight rate by 50 basis points to 3% citing the "sharp slowdown in the U.S. economy and ongoing dislocations in global financial markets" (with attendant tightening in credit conditions) and indications that "growth in the Canadian economy has also moderated."

Consolidated Thompson Iron Mines Ltd. (TSX:CLM) and Quinto Mining Corp. (TSX.V:QU) have signed a letter of agreement whereby Consolidated Thompson will acquire all of the outstanding common shares of Quinto in exchange for common shares of Consolidated Thompson.

By Adrian Ash
Bullion Vault
Wedesnday, April 16, 2008
The spot price of gold rose to a four-session high in Asian and London trade on Tuesday, gaining almost 1% overnight as world stock markets crept higher and US bond prices rose.

By Adrian Ash
Bullion Vault
Wedesnday, April 16, 2008
The spot price of gold rose to a four-session high in Asian and London trade on Tuesday, gaining almost 1% overnight as world stock markets crept higher and US bond prices rose.

By Adrian Ash
Bullion Vault
Tuesday, April 15, 2008
The spot price of gold rose to a four-session high in Asian and London trade on Tuesday, gaining almost 1% overnight as world stock markets crept higher and US bond prices rose.

Potash One announced yesterday that it has completed its acquisition of 100% of three potash exploration permits in Saskatchewan (KP 355, KP 356 and KP 357) and two permit applications (416 and 417) currently under review, from Giant Potash Corporation, a private Alberta corporation, as previously announced in the Company's March 26, 2008 news release.

The rainy season is drawing to a close in the Democratic Republic of Congo (DRC), and that means its time to get the drills turning again on El Nino Ventures' (TSX.V:ELN) 350 square kilometer concession.

The US Department of Energy's Idaho National Laboratory (INL) and the Alberta Research Council will jointly study the potential applications of nuclear power for extracting and treating Alberta's tar sands which seem set to become an increasingly important source of oil for the USA.

Western Wind Energy Corp. adviser, Loewen Ondaatje McCutcheon Ltd., of Toronto, Ont., has successfully placed the six million shares of Western Wind Energy, previously held by Pacific Hydro Pty. Ltd., of Australia, at $2.15 per share.

With the first pour of gold planned in August this year, and $17 million in the bank, the company is on track to become a mid-tier, 100,000 ounce per year producer within 18 months.

LNG Energy Ltd. (TSX.V:LNG) is one of those rare opportunities whose fundamentals obscure the scale and scope of the upside. To appreciate the magnitude of the opportunity inherent in LNG, due diligence practitioners must exert themselves to see beyond the superficialities that might deter less visionary souls.

With only 5,065,994 shares issued and outstanding, you can't buy any Phoenix stock to speak of out of the market. On Friday, for example, level 2 market depth shows 100 shares offered at $6.84, 500 shares offered at $8.04, then a total of12,500 shares between $8.10 and $8.50, and that's it. It trades two or three times a week, and a heavy day is 11,000 shares in volume.

A total of five holes (for 671 metres) were drilled into the Mbenge target, representing the first part of a 20,000-metre drill program planned for the SMP gold project for 2008. Mbenge is parallel to and located only 400 metres northeast of the Kenge SE zone, where results include 21.53 m at 3.62 grams per tonne (g/t) gold (Au) in hole SZD-056 (see news in Stockwatch on Nov. 13, 2007).

A total of five holes (for 671 metres) were drilled into the Mbenge target, representing the first part of a 20,000-metre drill program planned for the SMP gold project for 2008. Mbenge is parallel to and located only 400 metres northeast of the Kenge SE zone, where results include 21.53 m at 3.62 grams per tonne (g/t) gold (Au) in hole SZD-056 (see news in Stockwatch on Nov. 13, 2007).

Yale Resources Ltd (YLL TSX.V) has recently announced the discovery of a new mineralized zone at their Urique Project, a 29,000 hectare property in Sierra Madre gold belt in Mexico.

I first wrote this company up a month ago for Resource World magazine, and since then it doubled to over 5$ and now has settle back to the $4 range.

Challenger Energy (TSX.V:CHQ, AMEX:CHQ) just agreed to a financing that will see $26 million added to the treasury through the issuance of 6,521,800 Units at a price of $4.00 per unit Each unit will be comprised of one common share and one-half of one common share purchase warrant exercisable for a period of 24 months following the closing of the offering at a price of $4.40 per common share purchase warrant.

Institutional investors love the project generator model.

You know - where the company, at its own expense and usually using its own expertise goes about acquiring land for exploration through staking, and then markets joint venture opportunities to other exploration firms who have money but need projects.