Sula Iron & Gold - Re: SULA Stream Log - Gold miner shares spiked sharply...

Gold miner shares spiked sharply higher as investors scrambled to find safe havens as the crisis in Ukraine worsened. Russia’s seizure of Crimea over the weekend and deployment of thousands of troops to the Ukraine province has led to fears of a possible war in the country after the new government in Ukraine’s capital Kiev mobilised its armed forces in response Western governments have condemned the Russians and its president Vladimir Putin, but markets are waiting to see what action they take to try both to support the new Ukraine government and also to force the Russians to withdraw. Spot gold price jumped US$22 to US$1,344 despite gains for US dollar, which traditionally moves in an opposite direction to the price of the metal. Stocks were hit, however, with the Russian stock market dropping 10% at its open and London and other European bourses shedding about 2%. The exceptions were the gold miners, with all of the London-listed majors registering good gains with the exception of Russia-focused Petropavlosk (LONOG). The miner was already under pressure from the gold price weakness last year and is seen as exposed to risk the of economic sanctions being introduced on Russia. POG shares fell 9% to 84.63p while fellow Russia miner Polyus (LONOLY) shed 8%. The best of the performers were those with operations far way from the Ukraine, where sector leader and FTSE 100 member Randgold Resources (LON:RRS) added 3.8% to 4,922p. Mexican silver and gold miner Fresnillo (LON:FRES) edged higher to 955p while African Barrick (LON:ABG), like Randgold also focused on Africa, gained 4.5% to 294p. Among the smaller caps, producers fared the best with Philippines-based Medusa (LON:MML) a stand-out with a 12% rise to 125p. Greatland Gold plc (LON:GGP) was flat despite analysts talk of a major company update was very close and could be a long awaited farm in and a company maker. Sula Iron & Gold plc ( LON:SULA ) Rose on low volume despite a rumoured funding loan agreement at a premium of nearly 80%/5p roughly to the current 3p price per share with an update imminent. Centamin (LON:CEY) rose by 2% to 56p while Metals Exploration (LON:MTL), also in the Philippines, was 11% higher though it announced a writ against the company had been dismissed.