Industry bellwether, Newmont Mining, came out with very good quarterly results today. They are presently up about 5% on the news and approaching the psychological $50 barrier. Hopefully, this attracts some buying interest into the sector as not may companies are reporting improved results without applying accounting hocus pocus involving level 3 assets. Odds are pretty good that neither CNBC nor other controlled media outlets will be mentioning these positive results.

Barrick reports on July 31.

Regards - VHF

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Newmont swings to net; adjusted profit doubles; '08 affirmed

By Robert Daniel Last update: 6:38 a.m. EDT July 24, 2008

NEW YORK (MarketWatch) -- Newmont Mining Corp., the Denver gold producer, swung to second-quarter net income from a year-earlier loss on 19% higher revenue. Earnings were $277 million, or 61 cents a share, against a net loss of $2.06 billion, or $4.57, in the year-earlier period. Adjusted earnings more than doubled to 51 cents a share from 23 cents. Revenue reached $1.52 billion from $1.28 billion. Newmont affirmed its estimate that in 2008, it will sell 5.1 million to 5.4 million ounces of gold at $425 to $450 an ounce.