Peruvian President Ollanta Humala is seeking assurances that highland lakes will not be dried up and that Newmont will provide employment, education, irrigation canals and drinking water infrastructure.

“Newmont is evaluating the measures recommended by the auditors,” stated Mines and Energy Minister Jorge Merino, “there’s a good willingness on their part.”

Peru derives 50% of its tax revenues from the mining industry. The softening of the dialogue surrounding the Newmont mine is welcome news to Peruvian gold explorers like Coronet Metals (CRF-TSX.V) which has just completed a Social Baseline Report for the Yanamina advanced stage gold project in Ancash, Peru.

Yanamina is on the same geological trend as Barrick’s Pierina (7.5M/oz) gold mine,  situated 40km north Pierina and 120 km south of Barrick Gold’s Alto Chicama / Laguna Norte (9.1 million oz Au) mines.

Per the pre-economic assessment (“PEA”), Yanamina is an advanced-stage project with a NI 43-101 compliant resource of 83,100 oz gold in the indicated category and 123,700 oz gold in the inferred category at a 0.5 g/t gold cutoff. The PEA anticipates treating 4,802,000 tonnes of ore grading 1.34 g/t gold and 5.65 g/t silver with heap leach recoveries of 73% gold and 40% silver resulting in production of 151,000 oz gold and 349,000 oz silver at a cash cost of US$ 257/eq oz gold over a 5 year mine life.

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Coronet Metals Completes Baseline Study in Peru

Given the heightened levels of uncertainty and threat of turmoil in the Eurozone, gold should be raking in bundles of safe haven cash, but that isn’t happening. Instead, safety seekers are flocking to the dollar even as the US fails to harness its spending and its economic data loses some of the shine that was seen in the first quarter.

Followers of the market are well aware that gold had become addicted to loose monetary policy.

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Bear Market or Bull Opportunity?

Well, things may not be so dire. The end of the world may not be so close at hand. There are forces building that will serve to propel gold and silver prices to new highs. Gold and silver are at attractive prices for bargain hunters who may be more cool-headed than the throngs of amateurs that rush to sell at the intermediate low.

It is human nature to want to conserve what a person has earned. For most retail investors, the immediate reaction during market downturns is to sell. Fear overtakes reason, and selling begets more selling. Prices tend to change much more quickly when the electronic trading algorithms take over, followed quickly by the cowardly crowds. These are the same retail investors, by the way, who tend to pile in at market tops, afraid to miss out on the big score. But most retail investors get it exactly wrong. They sell low and buy high, the certain way to go broke.

Why do so many people give their money away to the markets? It has as much to do with training, specifically the lack of training and discipline, than psychology. Fear and greed may be the great motivating emotions that drive the market, but control of fear (and greed) through training and discipline allows the investor and speculator to profit in the markets while others fail. This is true for any market. The trick is to learn to act apart from the crowd, move contrary to the path of the mob. The mob is motivated by fear and greed. The contrarian investor takes advantage of the untrained mob by selling to them when they jump in at the market top, and buying from them when they are compelled to sell at the market bottom.

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A Rainbow for Gold?

Even gold bugs have to question whether the 11-year bull run is stalling out.

"It's not over," says Louis James, chief metals & mining strategist of Casey Research. James simply believes that markets fluctuate, and investors follow to find opportunity. Gold has been regarded as a currency for all of recorded time. To bet against it in favor of the printing press scrip being served up by global central banks is pure folly.

James suggests the run of thumb for at least the last 150 years has been "an ounce of gold would buy you a good suit." That remains a decent truth though the quality of tailoring has varied of late. The point is that gold isn't a speculative bet, but a store of value.

"To speculate you buy the gold stocks," he says, but if you want to own something you're sure will have absolute value regardless of the markets, keep your money in bullion. "If gold isn't working right now you need to look on it as a buying opportunity."

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Gold Slides to New 2012 Low: Buying Opportunity or Bull Market Breakdown?

The Standard allowed the free movement of capital which in turn financed and expanded trade. Twenty per-cent of the growth in global trade seen between 1880 and 1910 can be attributed to the stability of the gold standard.

The British people had faith in their money, its value, and the banks they kept it in. How far we have digressed from that confident nation.

The Great War and central banking promptly put an end to the loving relationship we Brits once had with gold. Our governments and central bankers decided over a few short years that we would be better off without our gold money.

Gradually over time we have lost our link to, and our faith in, gold; only to replace it with a faith in governments and the money which they print at their will.

The ultimate defamation to our historical appreciation of gold occurred between 1999 and 2002 when Gordon Brown sold 395 tonnes of Britain’s gold, at the lowest price for 20 years.

Now it is time to bring it back and reinstate our faith in gold. We need to ‘Buy Britain’s Gold Back’.

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Buy Britain’s Gold Back

World shares fell and the euro touched a four-month low after talks in Greece for a new government failed, forcing another round of elections.

But comments by Germany's Chancellor Angela Merkel and the new French President Francois Hollande that they both wanted Greece to remain in the euro zone helped to reassure markets and ease investors flight from risky assets.

Three-month copper on the London Metal Exchange traded at $7,728 at 1402 GMT, still down by half a percent but recovering from an earlier trough of $7,625, its lowest since Jan. 10. Copper, which had rallied by more than 12 percent by early February has shed almost all of its 2012 gains.

"One of the more concerning aspects of the global economy is China, where we have some indicators suggesting that growth is slowing more meaningfully and that and things look perhaps a little more worrying with respect to how much support that will give to metals market," analyst Dan Brebner of Deutsche Bank said.

"That said we've had a decent correction. It doesn't take much for things to turn around, but given where we are now I think it's looking a bit overdone."

Data last Friday showed China's economy weakening from its slowest quarter of growth in three years. Industrial production growth slowed sharply in April and fixed asset investment - a key growth driver - hit its lowest level in nearly a decade. China is the world's largest consumer of copper.

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Copper Steadies After 4-Month Low on Greece

Seven of Canada's 10 main sectors were lower. Losses were driven by a 0.4 percent drop in the heavyweight financial group. Canada's two largest banks led the losses, with Royal Bank of Canada (RY.TO: Quote) falling 1 percent to C$53.55 and Toronto-Dominion Bank (TD.TO: Quote) slipping 0.8 percent to C$79.76.

Schwartz said Canadian stocks have been battered more than their global counterparts due to Canada's resource-heavy index and "high exposure" to gold and oil issues.

"Our trading with Europe is limited, but it doesn't seem to matter," he added.

Greece moved closer to a second snap election on Wednesday when the head of the biggest party launched a new attack on radical leftist Alexis Tsipras, saying his plans for a new government would push the country out of the euro zone.

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TSX Rallies on Gold Miners

Louis James: Ladies and gentleman, thanks for tuning in. We're at the Casey Research Recovery Reality Check Summit. We're talking with John Hathaway, one of the more successful fund investors – institutional investors – in our precious metals field near and dear to my heart. John, can you give us a quick version of what you talked about here, for those who didn't make it to the conference?

John Hathaway: Sure, yes. I think we're at the end of a correction that resulted from the peak last summer. It was overcooked, kind of hyperventilated hysteria over the debt-ceiling talks, the rating downgrade of the US sovereign debt, and I think basically the stocks and the metal had been working off that boiled down to what we now have is a simmer. I think we are at a position where there's not a lot of downside, and I would not be surprised by revisiting the previous highs of $1,900 and maybe even new highs over $2,000 this year.

What will do that is basically – so much of the narrative has been quantitative easing. When Bernanke announced on the 29th of February that they were done with quantitative easing (and if you believe that I've got a bridge to sell you, but for the time being let's assume that there won't be any), I was very impressed that gold did not go to a new low. It printed somewhere below $1,600 at the end of the year, made a couple-of-day swoon, but it didn't go to a new low. And then when the Fed minutes came out it also did not go to a new low, it kind of reiterated what Bernanke said. So the narrative may be changing. I'm not ruling out quantitative easing as a possibility, but there are things out there that gold might be looking at that the CNBC mentality hasn't figured out.

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John Hathaway Calls a Market Bottom

WAI is an early stage iron ore exploration company working in Guinea, West Africa. They hold two large iron ore permits. The Forécariah permit covers an area of 1468 square kms and the Kérouané permit that covers 500 square kms.

This is an area of the world where iron ore mining is getting international attention. Three of the world's largest mining companies are investing heavily in the region. In fact Rio Tinto is not only developing a mine but a rail line which will run across WAI's property. The Chinese are also investing heavily in Guinea to secure their massive requirements for iron ore and are proposing infrastructure spending in Guinea for rail lines and port facilities which will run into the hundreds of millions of dollars.

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West African Iron Ore Project Update

Porter is a friend of mine and a very smart, successful individual… but I think not.

From my perspective, the pressures at play in the oil market are all pushing prices in the opposite direction: up. Global supplies are tightening, costs are rising, and demand is not falling. Prices are going to remain high, and then go higher. And there will not be a shale oil revolution anytime soon.

I'm the kind of guy who puts his money where his mouth is, so I challenge Porter to a bet. I bet Mr. Stansberry that the price of oil will stay above $40 a barrel over the next 12 months. The wager? 100 ounces of silver.

Porter has made a lot of good calls in his career. I highly recommend watching his video The End of America, an interesting and entertaining look at his prediction that the US will soon drown in its debts and cease to be a global economic powerhouse, a transition that will lead to riots across the country.

Porter and I agree on a lot of things, but on this one he's wrong. Below are my top ten reasons that high oil prices are here to stay.

Reason 1: "The Big Pinch"

Oil production levels, as well as exports, have been falling in most of the world's top ten supplier nations:

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Marin Katusa vs. Porter Stansberry on Oil Prices