SOURCE: The Bedford Report

The Bedford Report

November 21, 2011 08:16 ET

Shares of Rubicon Minerals and Yamana Look to Catch Up With Stable Gold Prices

The Bedford Report Provides Equity Research on Rubicon Minerals & Yamana Gold

NEW YORK, NY--(Marketwire - Nov 21, 2011) - With the price of Gold near all-time highs, analysts and investors are beginning to question the underperformance of Gold Mining stocks. Key gold index stocks are down on average about 8 percent year to date, while gold futures have added about 17 percent. Paul Simon, chief investment officer of Tactical Allocation Group, argues that "Investors in gold miners still have to account for business risk and global uncertainty." Simon adds that "part of the problem miners face is they're located in countries with governments in bad fiscal positions or uncertain political climates." The Bedford Report examines investing opportunities in the precious metals sector and provides stock research on Rubicon Minerals Corporation (NYSE Amex: RBY) (TSX: RMX) and Yamana Gold, Inc. (NYSE: AUY) (TSX: YRI). Access to the full company reports can be found at:

Earlier this month, the World Gold Council said that gold demand rose 6 percent in the third quarter from a year earlier as Europe's debt crisis spurred investors to accumulate the metal as a protection of wealth and push prices to a record. Despite the uptick, jewellery demand fell 10 percent to 465.6 tons in the third quarter, the council said. Usage in India fell 26 percent to 125.3 tons, and the country and China accounted for 57 percent of global purchases, according to the report. Total gold demand fell 23 percent in India and rose 17 percent in China. A report from the World Gold Council (WGC) titled 'India: Heart of Gold' argues that Gold demand in India will continue to be robust in the next decade. The report estimates that cumulative annual demand will be in excess of 1,200 tonnes by 2020, registering a growth of 33 percent.

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Rubicon Minerals Corporation is an exploration and development company focused on exploring and developing its high-grade gold discovery at its Phoenix Gold Project in Red Lake, Ontario. In July, 2011 a strategic $70 million investment into the Company was made by senior gold producer, Agnico-Eagle Mines Limited.

Yamana, which owns mines and projects spread across Chile, Argentina, Brazil and Mexico, said its most recent quarterly operating profit rose 34 percent due to increased production and a sharply higher gold price. Consistent with the guidance previously provided, production is expected to be in the range of approximately 1.04 million GEO to 1.14 million GEO in 2011.

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