|By Marketwire .||
|September 5, 2012 10:48 AM EDT|
LONDON, UNITED KINGDOM -- (Marketwire) -- 09/05/12 -- Milton Ellis Rawe again demonstrated their shrewd business acumen behind the 2011 and early 2012 purchases in the U.S state of Nevada seen by gold mining giant Barrick's recent acquisition of Nevada mine, Turquoise ridge located close to Milton Ellis Rawe Nevada Star Mine.
Barrick is believed to have spent 40% of their 2012 budget of approximately $450-490 million dollars in the acquisition of Turquoise ridge and two additional sites. Milton Ellis Rawe and Barrick mines are widely regarding to be in the hot zone of gold producing mines in Nevada, with a large number being million ounce plus producers.
It confirms growing opinions that while Africa and other markets offer good gold producing opportunities, reassurance for investors of mining activities in a geopolitically safe environment outweighs concerns of acquiring expandable assets, as further operational problems grow in South Africa with the recent Lonmin strikes.
The gold price could break 1700 dollars later today analysts at Milton Ellis Rawe explained as recent minutes from semi-annual report to the Senate Banking Committee in the U.S are further analysed. Gold has risen more than 6% in past month analysts predict the metal will remain on trend as it has done historically during the second half of the year. The metal averaged $1,613 in the second quarter. It will average $1,721 in the third quarter and $1,802 in the fourth, according to the average of 23 analysts' estimates compiled by Bloomberg.