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AGORACOM WIRE - WEDNESDAY MAY 30TH, 2012

GOLDEN HOPE MINES (TSXV:GNH) Confirms High Grade Intersection of 64.1 g/t Au (Gold) over 1m Read More

The screen metallic analysis returned 82 g/t Au for an average grade of 93.5 g/t Au.
Two additional fire assays on the original pulp done prior to the screen metallic analyses returned 0.22 g/t Au and 0.12 g/t Au for an average fire assay grade of 0.41 g/t Au. The weighted average of all the fire assays and screen metallic assays from this 1-metre section in hole BD2011-184 is 64.1 g/t Au.

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CONTINENTAL ENERGY Geothermal Energy Project Receives US$ 11.5 Million Grant Read More * Client

AGORACOM Launches Graphite Stocks Blog

Message: what does more credit problems mean for juniors?

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what does more credit problems mean for juniors?

posted on Jun 06, 08 05:59PM

will the juniors suffer more if the credit crisis worsens, even though gold may moonshot?

S&P downgrades Ambac, MBIA

Another day, another selloff for Ambac (ABK) and MBIA (MBI). The bond insurers sold off anew Thursday afternoon after S&P cut its insurer financial strength ratings on the companies’ main insurance units to double-A from triple-A. The news came a day after Moody’s said a downgrade of Ambac and MBIA was “likely.” Shares fell more than 6% after dropping more than 15% Wednesday.

“The rating actions on the companies reflect our belief that these entities will face diminished public finance and structured finance new business flow and declining financial flexibility,” S&P wrote. “In addition, we believe continuing deterioration in key areas of the U.S. residential mortgage sector
and related CDO structures will place increasing pressure on capital adequacy. The ‘AA’ financial strength ratings of these companies are supported by currently sound claims paying ability and liquidity levels in our opinion.”

On Wednesday, the companies responded to Moody’s review announcement within minutes, with Ambac pronouncing itself “disappointed” and MBIA saying it “disagreed.” Presumably we can expect more of the same this afternoon.

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