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China gold premiums near 3-year high while cash crunch curbs Indian demand
By Sethuraman N.R. and Rajendra Jadhav
Reuters
Friday, December 2, 2016
Gold premiums in China held near three-year highs this week amid limited supply of the precious metal, with traders saying Beijing was restricting imports, while prices in India swung to a discount as a severe cash crunch dampened appetite.
The import curbs may be part of China's efforts to limit outflows of the yuan after the currency's slide to its weakest in more than eight years, traders say. China allows only 15 banks to import gold, including three foreign lenders.
"There is severe restriction on the banks' quota to import gold into China. Each has to justify their need," a Hong Kong-based banker said.
Gold was sold in China at about $24 an ounce above the international spot benchmark this week. Premiums went as high as $30 last week, the most since January 2014, according to Thomson Reuters data. ...
... For the remainder of the report:
http://in.reuters.com/article/asia-gold-demand-idINKBN13R0UG
Sandspring Resources Commences 2016 Exploration Campaign
Company Announcement
August 17, 2016
Sandspring Resources Ltd. (TSX VENTURE:SSP, US OTC: SSPXF) is pleased to announce commencement of the 2016 exploration campaign at its Toroparu Gold Project in Guyana, South America.
In 2015 the company completed a 3,700-meter diamond drilling program on the promising Sona Hill Prospect, located 5 kilometers southeast of the main Toroparu deposit. Sona Hill is the easternmost gold anomaly in a cluster of 10 gold features located within a 20-by-7-kilometer hydrothermal alteration halo around Toroparu. Drilling at Sona Hill in 2012 and in 2015 intercepted high-grade mineralization in both saprolite and bedrock, and confirmed the continuity and grade potential of the Sona Hill mineralization.
For the remainder of the announcement and highlights of the 2015 drill program:
https://finance.yahoo.com/news/sandspring-resources-commences-2016-explo...
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