Xstrata Copper Takes Ernest Henry Operations Underground #Xstratacopper, #undergroundmining

Xstrata Copper has successfully extended the lifespan of Ernest Henry mines by
another 12 years by moving its operations underground The open pit mine, a
AUD589 million project has since progressed to underground mining and magnetite
processing. This move is expected to create and sustain jobs in north-west
Queensland. During the construction phase, three million tonnes of annual ore
output will produce 25,000 tonnes of copper and 35,000 ounces of gold in
concentrate. By 2013, production is expected to double to six million tonnes of
ore, translating into 50,000 tonnes of copper and 70,000 ounces of gold in
concentrate. The construction phase will see employment of 330 full-time staff.
Another 70 will be added to the payroll once the major shaft underground mine
and magnetite processing plant is completed in 2013. Mr Steve de Kruijff, North
Queensland Chief Operating Officer at Xstrata Copper revealed that the Ernest
Henry operation is a critical part of Xstrata Copper North Queensland's
integrated business, which as a whole contributed around $1.34 billion to the
Queensland economy and employed nearly 4,000 people in 2010. He added, "Ernest
Henry Mining's transition is part of our long term operational plan that will
see significant investment in north Queensland to focus on exporting mineral
concentrates, along with the development of necessary infrastructure to increase
rail and port capacity," Asia Mining Congress 2012 is pleased to have Mr Steve
de Kruijff join us in presenting: "Australia Company Spotlight: Sustaining
Xstrata Coppers North Queensland Operations." Come hear it from Steve and
other mining professionals. Download the programme brochure now . Network and
connect with the industry leaders. Join our professionals and experts at Mining
Nuggets on Facebook.

Todays Dow Jones Industrial Average DJIA DJI; S&P 500; Nasdaq; Stock market Investing News Today

Stocks rallied during the last trading session in the U.S. The Dow Jones
Industrial Average , as well as the Nasdaq and S&P 500, started the day with
brighter futures and were able to slope positively throughout the course of the
last trading session. Some positive economic news posted in the U.S. and the
attention seemed to deflect negative energy stemming from the ongoing debt
crisis in the eurozone. Also, a significant rally was set off in the eurozone
last session. German consumer confidence posted better than expected as did the
results of a Spanish debt auction that took place yesterday. Stock indices were
pushed aloft by the better-than expected housing data that posted in the U.S. as
well. According to the housing report, new home construction numbers rose to an
annual rate of 685,000 in November and requests for building permits rose by 1.8
percent to 681,000. The positive eurozone close paired with the positive data
posting in the U.S. helped push U.S. composites up the ladder. Primary
indicators finished green across the board. As the trading session in the U.S.
closed out for the day, the DJIA , as well as the Nasdaq and S&P 500, finished
well above opening numbers. The DJI finished higher by 2.87 percent or positive
337.32 points at 12,103.58. The Nasdaq finished the session higher by 3.19
percent or positive 80.59 points at 2,603.73. The S&P 500 closed higher by 2.98
percent or positive by 35.95 points at 1,241.30. Frank Matto

10 Experts Pick the 10 Best Stocks for 2012

Wondering what the best stocks to buy for next year are? Well, look no further
than the 10 Best Stocks for 2012 . This InvestorPlace feature lists 10 long-term
investments from a group of money managers, market experts and financial
journalists. The 10 Best Stocks for 2012 is meant to provide buy-and-hold picks
you can purchase now and sit on for a year ideally, winding up richer on the
other side. The buy list this year is a diverse group of stocks from banks to
technology, from emerging markets to Dow components, from old favorites to a
stock that went public just a few months ago. Throughout the year, the writers
will regularly offer updates on the good, the bad and the unexpected as it
relates to their best stock for 2012. We'll find out in a year who had the
best pick but first, let's examine each writer's recommendation and what
made them pick their stock as the best investment for the New Year:

Don’t Get Too Excited About Tuesday’s Romp

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tdp2664 InvestorPlace If there's one thing the market has taught us during the past four months, it's this — never underestimate its ability to do something unexpected, even logic-defying. Tuesday's 3% rally qualifies as such an event. Over the course of a pretty miserable seven-day stretch before Tuesday, the broader market had lost 4.7% of its value. In one day, it gained two-thirds of that loss back. Amazing. The reason for the bounce-back still is up for debate. A new hope for Europe's financial plight got the lion's share of the credit, though encouraging construction numbers were in that race as well. Either way, for me, the reason for the rally isn't nearly as important as the quality of it. Does it have any longevity? To fully gauge that, we have to dig much deeper into the bullish move itself. A look at the gain's overall volume is a good start, but not the complete story. Here's a closer look at the move, and what the true undertow looks like: Volume Was Just OK Click to Enlarge Contrary to popular belief and headlines like "Market Surges on High Volume,” Tuesday's volume wasn't that great. It was better than Monday's, but nothing significantly better than the average volume we've seen during the past several weeks. The NYSE's listed stocks (all its exchanges) saw 3.77 billion shares trade hands yesterday — only about 15% better than Monday's total, and about the average number since August's implosion. The other exchanges and indices told the same basic volume story on Tuesday. A red flag of a faltering rally? Usually yes, but in this case, not necessarily. While growing volume is a prerequisite for any rally, there's such a thing as too much volume. When trading volume spirals out of control and the floodgates are opened within one trading session, a huge volume spike often signals a turning point as well (sometimes for the better, and sometimes for the worse). In this case, the mediocre volume actually implies there's some meat left on the bone, so to speak. In that light, the modest-volume day isn't a liability considering the accompanying price surge, It might even be a good thing, letting us know the new uptrend can indeed last since buyers didn't empty the tank all in one shot. But, there's still far more to the story. Breadth & Depth are the 'Quality' Clues While the market's raw volume data can be deceiving, if you drill down into the market's breadth and depth, there's no place for the true undertow to hide. Breadth is just a fancy word for participation; how many stocks are actually part of the rally, versus how many are actually pointed lower (and just masked by the marketwide gains). The better the participation — as evidenced by the “advancers” — the more bullish the rally. Depth is an equally fancy word for volume. Just because a market's going higher doesn't mean it's a noteworthy rally. It might just mean there are very few sellers getting in the way at that time, and the relatively big number of buyers is making a market look a little more bullish than it actually is. Breadth and depth are measured at the exchange level, and not the marketwide level. But the NYSE's breadth and depth is a very good proxy for the overall market's health. So, we'll focus on that data set with our chart. As it turns out, Tuesday's gain is even less impressive than the modest volume would suggest. Click to Enlarge The NYSE boasted 2,763 (out of 3,197) of its listed stocks as winners yesterday. Only 371 of them lost ground. That's solid, but not dramatic. Indeed, we saw advancers reach that 2,700-ish level several times since August, and clearly none of those instances meant anything terribly bullish. As for breadth, or volume, no two data sources have the exact same number, but they all have the NYSE's “up” volume from Tuesday at just above 900 million shares. The “down” volume total was a mere 21 million shares, which is remarkably low, but the advancers' volume still is quite tepid — even lower than what we saw behind Friday's modest gain. Take a look. (For all four breadth and depth plots, the histograms show the daily data, while the overlaid moving averages are indicative of any trends.) Conclusion To be fair, the trends — as indicated by the moving averages — are turning slightly toward bullishness and slightly away from bearishness. And Tuesday certainly helped on that front. Tuesday wasn't a game-changer, though. Volume was modest, and bullish breadth and depth were moderate, at best. So no, Tuesday isn't a clarion call for the bulls. The only thing Tuesday's action is telling is us that some traders already are on Christmas vacation, and there just weren't many sellers to stand in the way. Don't get too excited just yet.

Top Oversold U.S.-Listed Chinese Stocks (Dec 20, 2011)

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tdp2664 China Analyst Below are the latest oversold U.S.-listed Chinese stocks. Qihoo 360 Technology Co Ltd (NYSE:QIHU) is the most oversold U.S.-listed Chinese stock on Dec. 20. It was down 4.5% on the day. QIHU's upside potential is 110.8% based on brokerage analysts' average target price of $34.07. It is trading at 44.6% of its 52-week high of $36.21, and 13.0% above its 52-week low of $14.30. Country Syl Ckng Restaurant Chain Co Ltd (NYSE:CCSC) is the second most oversold U.S.-listed Chinese stock on Dec. 20. It was down 3.2% on the day. CCSC's upside potential is 72.7% based on brokerage analysts' average target price of $12.12. It is trading at 26.1% of its 52-week high of $26.85, and 2.5% above its 52-week low of $6.85. Jiayuan.com International Ltd (NASDAQ:DATE) is the third most oversold U.S.-listed Chinese stock on Dec. 20. It was down 2.7% on the day. DATE's upside potential is 163.7% based on brokerage analysts' average target price of $15.22. It is trading at 35.8% of its 52-week high of $16.12, and 0.3% above its 52-week low of $5.75. ZHONGPIN INC. (NASDAQ:HOGS) is the fourth most oversold U.S.-listed Chinese stock on Dec. 20. It was down 2.6% on the day. HOGS's upside potential is 91.6% based on brokerage analysts' average target price of $15.92. It is trading at 39.4% of its 52-week high of $21.07, and 25.9% above its 52-week low of $6.60. TAL Education Group (ADR) (NYSE:XRS) is the fifth most oversold U.S.-listed Chinese stock on Dec. 20. It was down 0.6% on the day. XRS's upside potential is 56.0% based on brokerage analysts' average target price of $15.43. It is trading at 60.9% of its 52-week high of $16.25, and 17.6% above its 52-week low of $8.41. Renren Inc (NYSE:RENN) is the sixth most oversold U.S.-listed Chinese stock on Dec. 20. It was down 0.3% on the day. RENN's upside potential is 131.6% based on brokerage analysts' average target price of $7.62. It is trading at 13.7% of its 52-week high of $24.00, and 2.5% above its 52-week low of $3.21.

The Gold Price and Silver Price had a Field Day, Gold up 1.3 Percent

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DG365FD46564GFH654FU898 Gold Price Close Today : 1615.60 Change : 21.20 or 1.3% Silver Price Close Today : 2949.60 Change : 67.40 cents or 2.3% Gold Silver Ratio Today : 54.774 Change : -0.545 or -1.0% Silver Gold Ratio Today : 0.01826 Change : 0.000180 or 1.0% Platinum Price Close Today : 1432.00 Change : 24.70 or 1.8% Palladium Price Close Today : 625.45 Change : 16.80 or 2.8% S&P 500 : 1,205.35 Change : -14.31 or -1.2% Dow In GOLD$ : $150.55 Change : $ (3.28) or -2.1% Dow in GOLD oz : 7.283 Change : -0.159 or -2.1% Dow in SILVER oz : 398.91 Change : -12.80 or -3.1% Dow Industrial : 11,766.26 Change : -100.13 or -0.8% US Dollar Index : 79.83 Change : -0.421 or -0.5% Mercy! The SILVER and GOLD PRICE had a field day. On Comex the GOLD PRICE rose $21.20 (1.3%), smashed through $1,605 resistance, and closed $1,615.60. Silver rose 67.4c (2.3%)to 2949.6. That’s good, but it ain’t exactly crossing over Jordan into the promised land just yet. Above lies resistance at $1,625, then $1,650, then $1,687. If this rally exceeds $1,675 it will command our attention and respect. Till then it earns only watching. And we’ll find out something about that last low ($1,562.50) when this little rally-ette runs out of steam. The SILVER PRICE shone with a 2.3% rise, and Mondays trading looks like some sort of bottom — permanent or interim is another question — but now the rally meets real resistance at 2980. Must clear that barrier to maintain its reputation. To give y’all a nearer idea where today brings silver, think on this: the down trend line stands overhead at 3050c. Today’s high reached only 2959c. All today’s work was constructive, but settled nothing. Silver and gold remain in downtrends. They are only corrective downtrends, interrupting a primary bull market (uptrend), but down for the nonce still. Appears I got it exactly wrong at the exact bottom, facing yesterday’s outlook to today’s performance. Ahh, the obese female hath not yet sung her aria, so let me cover my embarrassment with patience. Euphoria’s mother today was a pledge from Europe to pony up 150 bn euros ($196 bn), which they don’t have, to the IMF to apply to the European debt crisis, where the questionable debt amounts to $3 trillion, 15 times the magnanimous contribution. ECB also widened its support for bond markets (NYT-speak for I don’t know what), German economic confidence indicators rose, and the US Commerce Dep’t said builders broke ground on 9.3% more new homes in November than in October, while building permits jumped 5.7%. This number is rock solid until the adjustments are published next month. Yeah, buddy! All that sounds like the world economy and the European crisis turning the corner to me. Right. Anyhow, that’s how markets reacted as if “Happy Days Are Here Again.” STOCK buyers fell into a frenzy like lemmings on their way to the coast. Dow jumped 337.32 points or 2.8% to 12,103.58. S&P 500 rose 2.98% (35.95) to 1,241.30. This positions stocks for a triple top just above 12,200. SOURPUSS! You might say, You never have any- thing good to say about stocks! And you’d be right, as I have nothing good to say about any market that is in a primary down trend (bear market) and technically looks as ratty as an old 1970s burnt orange polyester leisure suit. Technically that took stocks above the 200 day moving average (11,936). Since they are already above the 50 DMA (11,835), that does give them upward momentum. At least until the next piece of bad news out of Europe sends scuttles investor hopes. Dow will not pass 12,300; S&P500 won’t rise above 1,280. I reckon time’s come for me to get more accurate and precise about the US dollar index. Today it lost 42.1 basis points, down 0.54%, to 79.829. I’ve been saying it needs to hold 80. Have I changed my mind? Nope, I’ve just sharpened my pencil. The actual support line is 79.84 – 79.70, site of the last two peaks. today the dollar came back to that line, so today’s action is not fatal. More than that, the uptrend line right now stands just a mite above 79. Long as dollar doesn’t break that, it will still be rallying. Now I’m just a natural born fool, but if I were them Nice Government Men and I wanted to boost the euro and trim the dollar, I’d wait for some nested good news, or make some up, and then I’d buy them stock futures real heavy early in the day, to make it look like some mad buying panic was carrying away the public, just to sort of spark a rally like. But what do I know? Euro today rose 0.63% to close at 1.3080. Another few points and it’ll hit my 1.3200 target where the trend line stands in its way, and stop like a wild steer running headfirst into a concrete block wall. Japanese Yen rose 0.18% to close 128.39c/Y100 (Y77.89/$1). Nothing happening there. Argentum et aurum comparenda sunt — – Gold and silver must be bought. – Franklin Sanders, The Moneychanger The-MoneyChanger.com © 2011, The Moneychanger. May not be republished in any form, including electronically, without our express permission. To avoid confusion, please remember that the comments above have a very short time horizon. Always invest with the primary trend. Gold’s primary trend is up, targeting at least $3,130.00; silver’s primary is up targeting 16:1 gold/silver ratio or $195.66; stocks’ primary trend is down, targeting Dow under 2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary trend down; real estate bubble has burst, primary trend down. WARNING AND DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade futures contracts. I don’t intend them for that or write them with that short term trading outlook. I write them for long-term investors in physical metals. Take them as entertainment, but not as a timing service for futures. NOR do I recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT physical metal and I fear one day one or another may go up in smoke. Unless you can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary of traps. NOR do I recommend trading futures options or other leveraged paper gold and silver products. These are not for the inexperienced. NOR do I recommend buying gold and silver on margin or with debt. What DO I recommend? Physical gold and silver coins and bars in your own hands. One final warning: NEVER insert a 747 Jumbo Jet up your nose.

The Gold Price and Silver Price had a Field Day, Gold up 1.3 Percent

Gold Price Close Today : 1615.60 Change : 21.20 or 1.3% Silver Price Close
Today : 2949.60 Change : 67.40 cents or 2.3% Gold Silver Ratio Today : 54.774
Change : -0.545 or -1.0% Silver Gold Ratio Today : 0.01826 Change : 0.000180 or
1.0% Platinum Price Close Today : 1432.00 Change : 24.70 or 1.8% Palladium Price
Close Today : 625.45 Change : 16.80 or 2.8% S&P 500 : 1,205.35 Change : -14.31
or -1.2% Dow In GOLD$ : $150.55 Change : $ (3.28) or -2.1% Dow in GOLD oz :
7.283 Change : -0.159 or -2.1% Dow in SILVER oz : 398.91 Change : -12.80 or
-3.1% Dow Industrial : 11,766.26 Change : -100.13 or -0.8% US Dollar Index :
79.83 Change : -0.421 or -0.5% Mercy! The SILVER and GOLD PRICE had a field day.
On Comex the GOLD PRICE rose $21.20 (1.3%), smashed through $1,605 resistance,
and closed $1,615.60. Silver rose 67.4c (2.3%)to 2949.6. That's good, but it
ain't exactly crossing over Jordan into the promised land just yet. Above lies
resistance at $1,625, then $1,650, then $1,687. If this rally exceeds $1,675 it
will command our attention and respect. Till then it earns only watching. And
we'll find out something about that last low ($1,562.50) when this little
rally-ette runs out of steam. The SILVER PRICE shone with a 2.3% rise, and
Mondays trading looks like some sort of bottom -- permanent or interim is
another question -- but now the rally meets real resistance at 2980. Must clear
that barrier to maintain its reputation. To give y'all a nearer idea where today
brings silver, think on this: the down trend line stands overhead at 3050c.
Today's high reached only 2959c. All today's work was constructive, but settled
nothing. Silver and gold remain in downtrends. They are only corrective
downtrends, interrupting a primary bull market (uptrend), but down for the nonce
still. Appears I got it exactly wrong at the exact bottom, facing yesterday's
outlook to today's performance. Ahh, the obese female hath not yet sung her
aria, so let me cover my embarrassment with patience. Euphoria's mother today
was a pledge from Europe to pony up 150 bn euros ($196 bn), which they don't
have, to the IMF to apply to the European debt crisis, where the questionable
debt amounts to $3 trillion, 15 times the magnanimous contribution. ECB also
widened its support for bond markets (NYT-speak for I don't know what), German
economic confidence indicators rose, and the US Commerce Dep't said builders
broke ground on 9.3% more new homes in November than in October, while building
permits jumped 5.7%. This number is rock solid until the adjustments are
published next month. Yeah, buddy! All that sounds like the world economy and
the European crisis turning the corner to me. Right. Anyhow, that's how markets
reacted as if "Happy Days Are Here Again." STOCK buyers fell into a frenzy like
lemmings on their way to the coast. Dow jumped 337.32 points or 2.8% to
12,103.58. S&P 500 rose 2.98% (35.95) to 1,241.30. This positions stocks for a
triple top just above 12,200. SOURPUSS! You might say, You never have any- thing
good to say about stocks! And you'd be right, as I have nothing good to say
about any market that is in a primary down trend (bear market) and technically
looks as ratty as an old 1970s burnt orange polyester leisure suit. Technically
that took stocks above the 200 day moving average (11,936). Since they are
already above the 50 DMA (11,835), that does give them upward momentum. At least
until the next piece of bad news out of Europe sends scuttles investor hopes.
Dow will not pass 12,300; S&P500 won't rise above 1,280. I reckon time's come
for me to get more accurate and precise about the US dollar index. Today it lost
42.1 basis points, down 0.54%, to 79.829. I've been saying it needs to hold 80.
Have I changed my mind? Nope, I've just sharpened my pencil. The actual support
line is 79.84 - 79.70, site of the last two peaks. today the dollar came back to
that line, so today's action is not fatal. More than that, the uptrend line
right now stands just a mite above 79. Long as dollar doesn't break that, it
will still be rallying. Now I'm just a natural born fool, but if I were them
Nice Government Men and I wanted to boost the euro and trim the dollar, I'd wait
for some nested good news, or make some up, and then I'd buy them stock futures
real heavy early in the day, to make it look like some mad buying panic was
carrying away the public, just to sort of spark a rally like. But what do I
know? Euro today rose 0.63% to close at 1.3080. Another few points and it'll hit
my 1.3200 target where the trend line stands in its way, and stop like a wild
steer running headfirst into a concrete block wall. Japanese Yen rose 0.18% to
close 128.39c/Y100 (Y77.89/$1). Nothing happening there. Argentum et aurum
comparenda sunt -- -- Gold and silver must be bought. - Franklin Sanders, The
Moneychanger The-MoneyChanger.com © 2011, The Moneychanger. May not be
republished in any form, including electronically, without our express
permission. To avoid confusion, please remember that the comments above have a
very short time horizon. Always invest with the primary trend. Gold's primary
trend is up, targeting at least $3,130.00; silver's primary is up targeting 16:1
gold/silver ratio or $195.66; stocks' primary trend is down, targeting Dow under
2,900 and worth only one ounce of gold; US$ or US$-denominated assets, primary
trend down; real estate bubble has burst, primary trend down. WARNING AND
DISCLAIMER. Be advised and warned: Do NOT use these commentaries to trade
futures contracts. I don't intend them for that or write them with that short
term trading outlook. I write them for long-term investors in physical metals.
Take them as entertainment, but not as a timing service for futures. NOR do I
recommend investing in gold or silver Exchange Trade Funds (ETFs). Those are NOT
physical metal and I fear one day one or another may go up in smoke. Unless you
can breathe smoke, stay away. Call me paranoid, but the surviving rabbit is wary
of traps. NOR do I recommend trading futures options or other leveraged paper
gold and silver products. These are not for the inexperienced. NOR do I
recommend buying gold and silver on margin or with debt. What DO I recommend?
Physical gold and silver coins and bars in your own hands. One final warning:
NEVER insert a 747 Jumbo Jet up your nose.