Cumberland Resources Ltd. recently arranged a Cdn$87 million equity financing to develop the Company’s Meadowbank Gold Project located within 160km’s of the southern end of Committee Bay Resources Ltd.’s Greenstone Belt Project in Nunavut. Meadowbank, host to Canada’s largest known pure gold open pit gold reserves, is forecast to produce an average of 330,000 ounces of gold per year over an eight year mine life. This is great news as it reinforces that the financial community sees true economic potential in Canada’s north.

We picked up a recent article from a publication produced by the London Metal Exchange. Analysts are bullish about nickel prices. Prices have bounced in the last quarter, and some firms, including Macquarie Bank, believe that nickel could be prone to more selling.  Some analysts, including those from Merrill Lynch, feel nickel has the most positive outlook in the base metals complex, with supply deficits for the next five years. (more…)

Metals continue to show strength. We liked these comments from Toronto-based market analyst Henry Cieszynski.

“Metals have continued to recover with gold back near $600 an ounce, nickel at a new high, copper back up over the $3.50 level and zinc strong an inventories drop… (more…)

It seems everyone’s talking about Nickel’s recent surge, and for good reason.

Nickel’s 19 year high of $30,705/30,710 a tonne can be attributed to falling global stockpiles, the threat of supply disruptions, and fierce demand from China. (more…)

Nickel is breaking away from its three month plateau of $29,900/30,000 a tonne rising to $30,100/30,150 a tonne Wednesday.  It also hit record a record high of $30,250 earlier this week.

“Nickel is getting stronger…I think copper will recover as well and that would strengthen the whole complex,” an analyst in London said.

To read the origional article, click here

- Yahoo Finance - Thursday October 12, 8:31 PM