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Joy Global Inc. (JOYG) reported fiscal second-quarter EPS above the consensus today, and now expects full-year earnings at the upper end of its previous guidance.

JOYG reported quarterly profit of $1.17 per share, beating the average forecast of 88 cents derived from 14 covering analysts.

Sales grew 10% to a record $924 million.

However, the company also said that quarterly bookings fell 47% to $635 million.

Meanwhile, the manufacturer of mining equipment now expects earnings of $3.80 to $4.00 per share, against its previous guidance of $3.60 to $4.00, citing benefits from cost-cutting initiatives.

The consensus estimate is at $3.55 per share for the year ending October 2009, which has moved up a penny over the past week.

JOYG, a Zacks #3 Rank ("Hold") stock, has advanced about 1% on higher-than-usual volume of approximately 4.8 million, compared to average daily volume of about 3.5 million.

"JOYG" ...

Chancery’s corporate mission is “to acquire, develop, and expand proven gold and mineral properties into world-class assets.” Their business is focused in Columbia, South America, specifically in the El Caafetal region.

The company’s premise is to use modern technologies to extract gold, silver and copper from mines that are currently only extracting gold by completely upgrading the mining equipment and processes. Furthermore, they feel other development in the area is promising for expansion based on recent sampling.

The Columbian government is friendly to foreign investment at this time. On the investor portion of its website, Chancery addresses the risk of investing in a foreign country. According to Chancery, Columbia is one of the most stable economies in Latin America, as well as the oldest and most stable Latin American democracy.

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The title says it all. Global economy is on the rise with never-before-seen demand for natural resources and their applications.