Gold Seeker Closing Report – Gold & Silver Climb Back

Report	For	Reading	Expected	Previous
Retail Sales	Jan	2.3%	0.9%	0.4%
Retail Sales ex-auto	Jan	2.2%	0.8%	0.2%
Business Inventories	Dec	0.7%	0.5%	0.6%

Strong Retail Sales renewed fears of further interest rate increases by the fed, but markets were largely unaffected ahead of tomorrow’s congressional testimony from new fed chairman Ben Bernanke. Tomorrow at 8:30AM EST brings the NY Empire State Index for February expected at 18.0. At 9AM are Net Foreign Purchases for December and at 9:15 are Capacity Utilization for January expected at 80.8% and Industrial Production expected at 0.2%.

	Close	Gain/Loss
Gold	$546.00	+$7.20
Silver	$9.30	+$0.22
XAU	137.61	+1.86%
HUI	308.02	+2.24%
GDM	964.38	+2.44%
JSE Gold	2821.59	-3.43%
USD	90.60	+0.03
Euro	119.06	-0.05
Yen	85.15	+0.17
Oil	$59.57	-$1.72
10-Year	4.614%	+0.031
T-Bond	112.0625	-0.34375
Dow	11028.39	+1.25%
Nasdaq	2262.17	+1.00%
S&P	1275.53	+1.00%

Gold fell nearly $5 in early Asian trade before rebounding throughout trade in London to find about $5 gains, but it then fell back to near unchanged in early New York trade before rebounding to new session highs by the close. Silver followed a similar pattern but outshined gold’s 1.34% gain with a 2.42% gain.

Gold and silver equities started off mixed before rising midday and ended with about 2% gains.

Euro gold climbed back up near €460, platinum gained $2 to $1,008, palladium gained $6 to $277, and copper found decent gains to climb back above $2.25.

SilverSeek.com is pleased to announce the first ever online Silver Investment Conference. The conference is free and takes place tomorrow, February 15^th, at 11AM EST. Featured speakers include David Morgan, Julian Phillips, Jason Hommel, Bill Murphy, and Bernard von NotHaus. Also speaking are Keith Neumeyer of First Majestic, Hugh Clarke of Endeavour Silver, and J. Scott Drever of SilverCrest Mines. Attendance is free and can be accessed by anyone in the world with an internet connection with Windows Media Player or Real Audio Player. Conference will also be available over Podcast. Find more details here: http://www.silverseek.com/2006/

“The gold and silver market mounted an impressive upside adjustment and in a sense countervailed at least part of the recently prevailing negative bias in the metals markets. The gold market might have seen the best of two worlds by seeing a stronger than expected US retail sales reading and not seeing the Dollar benefit from the renewed strength in the US economy. The Press noted increased spec and fund buying but maybe not the typical physical buying interest that until recently had been the hallmark of the bull market. In order to turn the trend up some traders think that April gold needs to manage a close above the February low of $550.” - The Hightower Report, Futures Analysis and Forecasting

“Gold and silver placed in an impressive rally starting in Europe extending it into the close in New York Tuesday. Pullbacks are most definitely finding buyers. Volatility remains high and is expected to remain so for the rest of the week. Gold was able to find support at its 50 day moving average overnight, but this market moves in momentum waves and the current short-term one remains negative. The bears will continue to work on moving gold towards the $500 mark. They are working as hard as possible to shake out as many investors out of their long positions all the way lower, yet this should create even more attractive buying opportunities.

After falling to the 295-300 support area, the HUI was able to rally off of this area today, after correcting some 15% from recent highs a few weeks back. We may see a slight extension of today’s rally back to the 315 resistance, but the 295-300 area is likely to be retested. It is typical for markets to fall to major support levels and “bounce.” Investors will watch closely to see if today’s rally can continue in the coming days, but nervousness still remains. Any indication of weakness in metal prices will bring sellers right back in. Should the 295-300 support on the HUI break, 270-275 remains the next downside target with huge support around the 260 mark. 350 now remains the significant upside resistance.” – Peter Spina of www.goldforecaster.com

The U.S. dollar index gained on strong Retail Sales data, but it then fell off to near unchanged as traders await congressional testimony from new fed chairman Ben Bernanke starting tomorrow. The euro fell to new 6 week lows.

Oil fell under $60 for the first time this year on growing supplies and falling demand. Inventory reports tomorrow are expected to see further builds in supplies.

Treasuries fell on strong Retail Sales that may influence the fed to raise interest rates further.

The Dow, Nasdaq, and S&P rose throughout trade and ended with about 1% gains as oil under $60 offset any worries over Bernanke’s congressional testimony tomorrow.

Among the big names making news in the market today were GM, Transocean, Ameriprise, Deere & Co., Marsh & McLennan, Sanyo and Nokia, Coca-Cola, Qwest Communications, Warner Music, Omnicom Group, and Playboy.

Hecla’s 2005 year-end results and reserves, Cardero’s advanced Iron Sands project, Glencairn’s suspended mining at Limon, Barrick’s agreement with Antofagasta to acquire 50% of Tethyan Copper Company's Reko Diq project, Ivanhoe’s updated coal resources, Agnico-Eagle’s optioned Swanson Gold Project, Randgold’s restricted stock awards, webcast alerts from SilverCrest Mines, First Majestic, and Endeavour Silver about tomorrow’s SilverSeek.com 2006 Silver Investment Conference, SilverCrest’s drilling in Mexico, Silvercorp’s environment assessment report for the Ying Silver project, and First Majestic’s Dios Padre silver mine update were among the big stories in the gold and silver mining industry making headlines today. Silver Wheaton’s earnings and amended agreement with Goldcorp released late yesterday was also a major topic in the industry today.

Andean American Mining Corp.: Geological Update of Invicta Gold-Silver-Copper Project - More
- February 14, 2006 | Item | E-mail

MacMillan Gold And Young-Shannon Resolve All Issues - More
- February 14, 2006 | Item | E-mail

Cardero Advances Iron Sands Project, Peru - "Cardero Resource Corp. is pleased to announce the results of its initial surface and borehole sampling program on its 100% owned, 32,000 hectare Iron (Fe) Sands Project located within the Marcona Iron, Copper and Gold (IOCG) District in coastal southern Peru. Details of a conference call to be held February 16th, 2006 can be found at the end of this release." More
- February 14, 2006 | Item | E-mail

Prospecting and Detailed Scintillometer Surveys lead to New Uranium Discovery on Calvario III Property, Macusani Uranium Project, South-eastern Peru - More
- February 14, 2006 | Item | E-mail

SilverCrest Reports on Mexico Drilling - "SilverCrest Mines Inc. is pleased to announce the results of its recent drill program at the 100% owned Silver Angel property and to report on the progress of the current drill program at its Santa Elena project. Both projects are located in the state of Sonora in northern Mexico, approximately 150 kilometres northeast of Hermosillo." More
- February 14, 2006 | Item | E-mail

Valdez Gold announces rights offering - More
- February 14, 2006 | Item | E-mail

Manson Creek is Pleased to Announce 2006 Exploration Programs - More
- February 14, 2006 | Item | E-mail

Inmet announces fourth quarter earnings of $0.97 per share - More
- February 14, 2006 | Item | E-mail

Wolfden to acquire Izok Project - creating Arctic focused company; Wolfden plans to spin-out gold assets - More
- February 14, 2006 | Item | E-mail

Glencairn Suspends Mining At Limon Due To Illegal Blockade - "The blockade has been set up by a group of an estimated 17 current and former employees who are demanding that the company rehire a number of former employees who were terminated in December, 2005. The termination of these employees has been upheld by the Nicaraguan government and their severance has been paid." More
- February 14, 2006 | Item | E-mail

Barrick Announces Agreement with Antofagasta for Gold-Copper Project - "Barrick Gold Corporation announced today that it has entered into an agreement with Antofagasta PLC to acquire 50% of Tethyan Copper Company's Reko Diq project and associated mineral interests in Pakistan in the event that Antofagasta is successful in its bid to acquire Tethyan. Antofagasta announced earlier today that it had reached agreement with Tethyan on the terms of a cash offer of Australian $1.20 per share for the entire issued share capital of Tethyan. The offer has been unanimously approved by Tethyan's Board of Directors." More
- February 14, 2006 | Item | E-mail

Crew Gold Corp.: Results from Operations Quarter Ended December 31, 2005 - More
- February 14, 2006 | Item | E-mail

Trend Mining Announces Board Resignation - More
- February 14, 2006 | Item | E-mail

Gold zones expanded at Gitennes' Tucumachay Project - More
- February 14, 2006 | Item | E-mail

Inmet agrees to sell Izok property - More
- February 14, 2006 | Item | E-mail

Emgold Mining Corp: Firm hopes reopen long-dormant Calif. Gold Rush mine - More
- February 14, 2006 | Item | E-mail

Sino Silver Corp. Clarifies Termination of LOI with Silver Dragon - More
- February 14, 2006 | Item | E-mail

Eagle Plains Acquires Additional Exclusive Exploration Rights to NWT Lead-Zinc-Silver Metals District - More
- February 14, 2006 | Item | E-mail

Brookmount Explorations Expands Its Presence in Europe With a Listing on the Berlin Exchange - More
- February 14, 2006 | Item | E-mail

Webcast Alert: SilverCrest Mines, Inc. Announces Its SilverSeek.com 2006 Silver Investment Conference Webcast - "When: February 15, 2006 @ 01:30 PM Eastern
Where: http://www.investorcalendar.com/CEPage.asp?ID=100592
How: Live over the Internet -- Simply log on to the web at the address above." More
- February 14, 2006 | Item | E-mail

Webcast Alert: First Majestic Resource Corporation Announces Its SilverSeek.com 2006 Silver Investment Conference Webcast - "When: February 15, 2006 @ 11:30 AM Eastern
Where: http://www.investorcalendar.com/CEPage.asp?ID=100588
How: Live over the Internet -- Simply log on to the web at the address above." More
- February 14, 2006 | Item | E-mail

Webcast Alert: Endeavour Silver Corp Announces Its SilverSeek.com 2006 Silver Investment Conference Webcast - "When: February 15, 2006 @ 12:30 PM Eastern
Where: http://www.investorcalendar.com/CEPage.asp?ID=100590
How: Live over the Internet -- Simply log on to the web at the address above." More
- February 14, 2006 | Item | E-mail

Romios To Resume Diamond Drilling On Its Scossa Gold Property, Nevada - More
- February 14, 2006 | Item | E-mail

U.S. Precious Metals Announce Significant Gold Mineralization - More
- February 14, 2006 | Item | E-mail

SEMAFO announces appointments to its Board of directors - More
- February 14, 2006 | Item | E-mail

Several more high quality gold nuggets found in Swede Channel samples - More
- February 14, 2006 | Item | E-mail

Sparton to Begin Negotiations with Zhao Jin Gold Group Regarding Luxi Gold Project - More
- February 14, 2006 | Item | E-mail

Solid Resources updates progress on Sacrificio property in Mexico and Bear property in Canada - More
- February 14, 2006 | Item | E-mail

Letter of Intent Executed with Teck Cominco American Incorporated for Acquisition of Industrial Property for Oregon Resources Corp. - More
- February 14, 2006 | Item | E-mail

Redstar Options Third Nevada Project to SMB - More
- February 14, 2006 | Item | E-mail

Silver Dragon Resources Inc. Update - More
- February 14, 2006 | Item | E-mail

Sienna Expands Exploration Potential and First Drill Hole Results from Igor Property - More
- February 14, 2006 | Item | E-mail

United Bolero advances Cannivan Gulch - Hires Project Manager - More
- February 14, 2006 | Item | E-mail

Mega Uranium Ltd.: Hamlin-Shebandowan Hole 06-39 Intersects Two Wide Copper-Gold-Silver-Molybdenum Zones - More
- February 14, 2006 | Item | E-mail

Plexmar Resources Inc.: Field Work Update - More
- February 14, 2006 | Item | E-mail

Eden drilling intersects encouraging gold - More
- February 14, 2006 | Item | E-mail

MacMillan Gold And Consolidated Spire Resolve All Issues - More
- February 14, 2006 | Item | E-mail

Orvana Reports Higher Revenues and 42% Higher Net Income for the First Quarter Ended December 31, 2005 - More
- February 14, 2006 | Item | E-mail

Pan African Mining Corp.'s Madagascar Uranium Program Greenlighted by Malagasy Government - More
- February 14, 2006 | Item | E-mail

Mundoro Engages Societe Generale as Exclusive Project Debt Advisor on the Maoling Gold Project - More
- February 14, 2006 | Item | E-mail

Maxam Gold Corporation Announces Partnership With Xcentia Mining LLC and Xcentia Energy LLC - More
- February 14, 2006 | Item | E-mail

IGC Resources Commences Sampling Program on its Fraser Range Gold, Copper, Uranium Prospect, Western Australia - More
- February 14, 2006 | Item | E-mail

Eloro Acquires Strategic Properties in James Bay Region of Quebec - More
- February 14, 2006 | Item | E-mail

Kirkland Lake Gold Inc.: Fourteen Gold Zones Now Identified in a New System South of Main Break; Potential Dip Component of New South Zone Now 1300 Feet - More
- February 14, 2006 | Item | E-mail

Ascendant Copper Begins Public Consultations in Support of Environmental Impact Study Process - More
- February 14, 2006 | Item | E-mail

Corriente Resources Inc. Applies to List its Common Shares on the American Stock Exchange - More
- February 14, 2006 | Item | E-mail

Crew Gold Corporation: Results from Operations Quarter Ended December 31, 2005 - More
- February 14, 2006 | Item | E-mail

D'Arianne Adds 55 New Claims to Opinaca - More
- February 14, 2006 | Item | E-mail

Antares Increases SX-EW Copper Resource By 30% at Haquira Project - More
- February 14, 2006 | Item | E-mail

Positive Gold Results for Cloudbreak on Soil Survey in the Sarp-Ikiztepe Property, NW Turkey - More
- February 14, 2006 | Item | E-mail

Alexis Vests Into Aurbel Gold Property, Val d'Or, Quebec - More
- February 14, 2006 | Item | E-mail

Colombia Goldfields Closes Purchase Agreement to Acquire Interests in Marmato Mountain - More
- February 14, 2006 | Item | E-mail

Serabi Mining plc Reports 74% Increase in Global Resource to 825,900 Ounces Gold Equivalent - More
- February 14, 2006 | Item | E-mail

Ivanhoe Mines Ltd.: New Estimate Upgrades Measured and Indicated Coal Resources at Nariin Sukhait Project, Southern Mongolia - "Mr. Wusaty also announced that Ivanhoe is looking to separate the coal assets from the company's core copper and gold assets and create a stand-alone, publicly-listed coal and power company. The decision follows an extensive strategic review with the company's external advisors on measures to strengthen the company's overall business and increase shareholder value." More
- February 14, 2006 | Item | E-mail

Silvercorp Metals Inc.: Environment Assessment Report for Developing the Ying Silver Project Receives Approval-Mining Permit Application Accepted for Filing - "Silvercorp Metals Inc. is pleased to announce it has received approval from the Department of Environment Protection Bureau of Henan Province, regarding the Environmental Assessment Report for mining and development of the SGX area of the Ying Silver project. The proposed mine development area covers the approximate 9.97 square kilometers (km) that has been the focus of Silvercorp's exploration and development effort, where over 25 km of exploration and development tunnels plus 11,500 metres of underground and surface drilling have been completed to date." More
- February 14, 2006 | Item | E-mail

Agnico-Eagle Mines Ltd. Options Swanson Gold Project, Phoenix Advances Bottle Creek Gold Project - "Under the terms of the option agreement Agnico will pay $125,000 to Phoenix upon signing the option agreement. Agnico also undertakes to conduct a minimum of $400,000 of exploration prior to the first anniversary, which work is expected to start immediately after signing the final agreement at the end of February. Agnico will pay $500,000 to Phoenix should it decide to continue with the project beyond 28 February 2007. Phoenix Matachewan will retain a 1% NSR on the project and will receive an additional $25/oz royalty on all gold produced from the project between 25,000 oz and 100,000 oz. A further 2% NSR on the Swanson Project is held by Barrick Gold Corporation." More
- February 14, 2006 | Item | E-mail

First Majestic Resource Corp.: Dios Padre Silver Mine Update - "First Majestic Resource Corp. is pleased to announce that an exploration and development programme has commenced at the Dios Padre Silver Mine, located approximately two hours drive from Hermosillo, Mexico. As previously announced, the Dios Padre Silver Mine is a high grade silver mine dating back over 300 years. Most of the mine is presently flooded; however the top 50 metres remain accessible and are the focus of this programme. Part of the programme's intent is to define a NI 43-101 compliant reserve/resource." More
- February 14, 2006 | Item | E-mail

Hecla Reports 2005 Year-End Results and Reserves, Looks Forward to 2006 - "Hecla Mining Company today reported a loss applicable to common shareholders in 2005 of $26 million, or $0.22 per share, largely as a result of exploration and pre-development expenditures totaling $26.2 million. Sales during 2005 were $110.2 million, with gross profit of $14.5 million. This compares to a 2004 loss of $17.7 million, or $0.15 per share, on sales of $130.8 million and gross profit of $37.4 million." More
- February 14, 2006 | Item | E-mail

Randgold Resources Limited announces Restricted Stock Awarded 2 - "In terms of the Company's remuneration for non-executive directors approved by shareholders at the Annual General Meeting on 25 April 2005, an award of $30 000 is made each year to each non-executive director to be used for the purpose of acquiring restricted stock. The price of the 2006 restricted stock calculation was the Nasdaq National Market closing price on 10 February 2006, being US$17.11." More
- February 14, 2006 | Item | E-mail

Randgold Resources Limited Announces Restricted Stock Awarded 1 - "In terms of the Company's remuneration report approved by shareholders at the Annual General Meeting on 25 April 2005, and in accordance with the terms of the Service agreement entered into between the Company and its CEO, an award of 150 000 restricted shares was granted to Dr D M Bristow. The price of the restricted stock calculation was the Nasdaq National Market closing price on 10 May 2005, being US$12.78." More
- February 14, 2006 | Item | E-mail

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