This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

New York spot gold rose $12.70 to $2,031.50 on Monday. The TSX Venture Exchange rose 4.05 points to 554.91 while the TSX gold index added 2.92 points to 263.81. Most Canadian gold miners moved little again today, although there were the usual busy traders. Kinross Gold Corp. (K) rose one cent to $7.47 on 3.27 million shares while Barrick Gold Corp. (ABX) added 17 cents to $21.06 on 3.7 million shares today.

Mark Bristow, Barrick's president and chief executive officer, self congratulated himself and his company for 27 years of contributions to the economy of Mali -- a contribution he tallied at nearly $10-billion (U.S.) in taxes, royalties, salaries and payments to local suppliers. These contributions, he says, have accounted for between 5 per cent and 10 per cent of Mali's gross domestic product over the past decade.

Ah, but so what: Mr. Bristow says -- and here comes the reason for the promotion -- that "in the face of many challenges, [Barrick] continues to work tirelessly with the transition government of Mali ... to plot a new course for the country's mining industry." The old course, unfortunately, is becoming increasingly impassible as the transition government -- a pleasant pseudonym for military dictatorship -- is looking to boost its share of mining revenue.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS