Gold Seeker Closing Report – Silver Makes a New 22 Year High

Report	For	Reading	Expected	Previous
Initial Claims	Feb	302K	305K	313K
Existing Home Sales	Feb	6.91M	6.5M	6.57M

Existing Home Sales unexpectedly gained the most in 2 years at 5.2% and reignited worries about the fed raising interest rates. Tomorrow at 8:30AM EST brings Durable Goods Orders for February expected at 1.3% and at 10AM are New Home Sales for February expected at 1,210,000.

	Close	Gain/Loss
Gold	$550.50	-$0.10
Silver	$10.65	+$0.18
XAU	130.03	+1.47%
HUI	303.41	+2.15%
GDM	957.52	+1.67%
JSE Gold	2633.77	-1.00%
USD	90.42	+0.68
Euro	119.63	-1.15
Yen	84.79	-0.73
Oil	$63.91	+$2.14
10-Year	4.739%	+0.036
T-Bond	110.5625	-0.3125
Dow	11270.29	-0.42%
Nasdaq	2300.15	-0.14%
S&P	1301.67	-0.26%

Gold traded about a dollar lower in Asia and fell nearly $4 in early London trade before it rebounded to near unchanged in later London trade, but it then fell off even further in late London and early New York trade to about $545 before it rebounded for the rest of trade in New York and ended near its highs with just a 10 cent loss. Silver traded mostly slightly lower in Asia and London and briefly dipped near $10.40 in early New York trade, but it then rallied throughout the rest of trade in New York and ended near its highs with 1.72% gain to a new 22 year high.

Euro gold climbed near €460, platinum remained unchanged at $1,037, palladium lost $2 to $317 to fall from 23 month highs, and copper made new all-time highs near $2.40.

Gold and silver equities traded near unchanged for the first couple of hours of trade, but they then rose about 2% midday and remained near their highs into the close.

“The gold market showed significant negative divergence with the rest of the metals markets and with the US Dollar soaring we can partially understand the reaction. However, given the magnitude of the run up in silver, platinum and copper, the bull camp in the gold market has to be extremely disappointed. After the close a major brokerage firm revised their silver price forecast higher and with the silver market posting significant upside action in the wake of the ETF era, it is possible that even more investment money might flow into the market.” - The Hightower Report, Futures Analysis and Forecasting

Oil rose on yesterday’s drop in supplies and on renewed geopolitical concerns in Nigeria, Iran, and

Iraq

. Natural gas stocks fell 23 billion cubic feet which was a smaller drop than expected. The big geopolitical concern today related to the big Italian oil company ENI declaring force majeure in Nigeria.

The U.S. dollar index found nice gains and treasuries fell on the prospect for further interest rate hikes by the fed.

The Dow, Nasdaq, and S&P fell on worries over higher interest rates and higher oil.

Among the big names making news in the market today were Bayer and Schering, Carnival, General Motors, the American Stock Exchange, Medtronic and J&J, Procter's Duracell and Garrity, General Mills, ConAgra, and Scholastic.

Bema Gold’s and Eldorado Gold’s 2005 results, Freeport McMoRan’s multiple problems in Indonesia, Ivanhoe’s dealings with the Mongolian government over Oyu Tolgoi, Newmont’s possible tax changes in Uzbekistan, Anglo American’s share buyback program, and Pan American’s plans to develop the Manatial Espejo silver project were among the big stories in the gold and silver mining industry making headlines today.

Goldrea Resources Corp.: Interim Report on the Trenching and Drilling on the West Tianjia Zone at the Daye Gold Mine-Shandong Province, China - More
- March 23, 2006 | Item | E-mail

Bema Gold Corporation: 2005 Fourth Quarter and Year End Results - "Bema's loss for the year ended December 31, 2005 was $81 million or $0.20 per share compared to a loss of $79.6 million or $0.22 per share in 2004. The largest contributor to the loss during the year was an unrealized non-hedge derivative loss of $30.2 million resulting from the mark-to-market adjustment of the Company's non-hedge derivative financial instruments." More
- March 23, 2006 | Item | E-mail

Marifil Announces Non-Brokered Private Placement - More
- March 23, 2006 | Item | E-mail

Crowflight Stakes Additional Ground In The North Range Footwall Of The Sudbury Basin - More
- March 23, 2006 | Item | E-mail

Pan American to develop the Manatial Espejo silver project - "Pan American Silver Corp. is pleased to announce that it has received approval from the Province of Santa Cruz Argentina for the Environmental Impact Statement on its 100% owned Manantial Espejo silver project and plans to immediately proceed with the development and construction of the mine. The Company also signed an agreement with the Federal Government of Argentina and the Province of Santa Cruz to bring grid electrical power to the town of Gobernador Gregores with a sub-connection to Manantial Espejo." More
- March 23, 2006 | Item | E-mail

Acero-Martin Exploration Inc.: Eight Holes Intersect Significant Gold and Copper Mineralization - More
- March 23, 2006 | Item | E-mail

Coral Gold to Consider U.S. Gold Offer - More
- March 23, 2006 | Item | E-mail

Miner Freeport hit by double-whammy in Indonesia - "U.S. mining giant Freeport McMoRan Copper & Gold Inc., a recent target of protesters in Indonesia, was hit with more bad news on Thursday when a landslide killed three workers there and a government study criticized some of its environmental practices. "Obviously this is a difficult time for us, but we are working to resolve all the issues," spokesman William Collier told Reuters." More
- March 23, 2006 | Item | E-mail

Silver Hits 22-Year High -- Franklin Mining Poised to Benefit - More
- March 23, 2006 | Item | E-mail

Typhoon Intersects and Extends Gold Mineralization at Fayolle, Grading Up to 0.11 oz/t Gold Over 54.1 Feet - More
- March 23, 2006 | Item | E-mail

Sage announces soil assays of up to 9.25 g/t and 58 g/t in rock chip samples, Big Bend property - More
- March 23, 2006 | Item | E-mail

Canadian Royalties Initiates Permitting Process for the Raglan South Nickel Project - More
- March 23, 2006 | Item | E-mail

Radisson Mining Resources Inc. Retains Bay Street Connect Ltd. - More
- March 23, 2006 | Item | E-mail

Running Fox Corporate Update, Drilling Another Deep Alberta Natural Gas Well - More
- March 23, 2006 | Item | E-mail

Intrepid Minerals Defines Extent of New Vein System in Eastern El Salvador - More
- March 23, 2006 | Item | E-mail

Searchgold Lists on Frankfurt Stock Exchange - More
- March 23, 2006 | Item | E-mail

Sea Green Capital Corp Drilling Update - More
- March 23, 2006 | Item | E-mail

Grand Pacaraima Completes Merger; Totally Focused on Developing 4 Mining Properties in Venezuela - More
- March 23, 2006 | Item | E-mail

Yorbeau Resources Inc.: Update on Rouyn Drilling Campaign - More
- March 23, 2006 | Item | E-mail

Eagle Plains/Northern Continental Report 2005 Exploration Results on Abo Gold Project, Southwestern British Columbia - More
- March 23, 2006 | Item | E-mail

Osisko Cuts 1.94 g/t Au over 103.5 Metres at Canadian Malartic - More
- March 23, 2006 | Item | E-mail

Cream Minerals Initiates Phase 1 Work Program for Dos Hornos North and Once Bocas Zones, Mexico - More
- March 23, 2006 | Item | E-mail

Alberta Star's 25,000 Meter Drill Permit Deemed Complete for Drilling in the Eldorado Iron Oxide Copper, Gold, and Uranium District - More
- March 23, 2006 | Item | E-mail

Garibaldi Resources Corp.: Final Results of Phase 1 Exploration Program Confirm Potential for Multiple Discoveries at Morelos Project - More
- March 23, 2006 | Item | E-mail

Everton Begins Drill Program at the Tres Bocas Prospect, Loma el Mate Concession, Dominican Republic - More
- March 23, 2006 | Item | E-mail

Noront Intersects 27.3 Grams Gold Per Tonne Over 14.40 Meters - More
- March 23, 2006 | Item | E-mail

Amerix Precious Metals Announces Private Placement Financing - More
- March 23, 2006 | Item | E-mail

Alhambra Resources Ltd. - RAB Drilling Leads to Significant New Gold Discoveries - More
- March 23, 2006 | Item | E-mail

Comaplex Minerals Corp. Announces Fourth Quarter and Annual Results - More
- March 23, 2006 | Item | E-mail

Alexis Minerals Corporation: Partners Complete West Ansil Resource Estimate - More
- March 23, 2006 | Item | E-mail

Exeter Resource Corporation: La Cabeza Surface Rights Purchased - More
- March 23, 2006 | Item | E-mail

Ivanhoe welcomes Mongolian Government's acceptance of new initiatives to facilitate the completion of a Stability Agreement - "The Board of Directors of Ivanhoe Mines today welcomed the Mongolian Government's acceptance of a series of investment-related initiatives made by the company this week to facilitate the completion of a Stability Agreement for the development of Ivanhoe's Oyu Tolgoi copper-gold project in the South Gobi region." More
- March 23, 2006 | Item | E-mail

Indonesia Threatens Freeport With Lawsuit - "Indonesia's government Thursday threatened legal action against U.S. mining company Freeport unless the company improves the environmental record of its massive gold mine in Papua province. The announcement follows days of demonstrations against the company, some of which have called on the government to take over the Grasberg mine that is run by a local unit of New Orleans-based Freeport-McMoRan Copper & Gold Inc." More
- March 23, 2006 | Item | E-mail

Newmont says Uzbek gov't wants to change tax rules - "Major gold miner Newmont Mining Corp on Thursday said its joint venture in Uzbekistan could be hurt by a government move to repeal an order that protects the venture from tax changes. In a filing with securities regulators, Newmont said the Uzbekistan Ministry of Finance told the Zarafshan-Newmont Joint Venture last week it wants to renegotiate or eliminate the governmental decree this year." More
- March 23, 2006 | Item | E-mail

Indonesia finds enviromental problems at Freeport - "An Indonesian government study has found environmental problems at Freeport-McMoRan Copper & Gold Inc.'s giant mine in Papua, which the company said on Thursday it was trying to fix. The release of the report came hours after a landslide killed three people near the mine, police said. The Grasberg mine, run by Freeport's Indonesian unit, has been a lightning rod for criticism and has been at the centre of sometimes violent demonstrations in recent weeks." More
- March 23, 2006 | Item | E-mail

Anglo doubles share buyback programme to $2 bln - "Global miner Anglo American Plc said on Thursday it had doubled its share buyback programme to $2 billion after the conversion of most of a $1.1 billion convertible bond it issued in 2002. It is the second time in a month the world's third-largest miner has increased the amount being returned to investors." More
- March 23, 2006 | Item | E-mail

Freeport-McMoRan Copper & Gold Inc. Announces Mud/Topsoil Slide Near Mining Operations - "Freeport-McMoRan Copper & Gold Inc. reported that on March 23, 2006, at approximately 1 a.m. local time, a mud/topsoil slide occurred from a mountain ridge above service facilities supporting PT Freeport Indonesia's (PT-FI) mining operations. The material damaged a mess hall and an adjacent area. Regrettably, three contract workers were fatally injured in the event and four workers with injuries were hospitalized. The event did not directly involve operations within the Grasberg mine or PT-FI's milling operations. An assessment of the causes of this event is under way." More
- March 23, 2006 | Item | E-mail

Eldorado Gold Corporation: 2005 Financial and Operational Results - "The consolidated net loss for 2005 was $49.1 million or ($0.17) per share, compared with a net loss of $13.9 million or ($0.05) per share in 2004 and a net loss of $45.0 million or ($0.20) per share in 2003. Our loss in 2005 resulted from a write down of assets of $18.9 million, higher operating costs and depreciation at the Sao Bento mine. Based on current cash flow analyses and reserve estimates the mine will enter its last full year of production in 2006 as we plan to cease mining operations in the first half of 2007." More
- March 23, 2006 | Item | E-mail

Sonora Gold Corp. Sells Santa Gertrudis & Roca Roja Claims for US $3,050,000.00 - More
- March 23, 2006 | Item | E-mail

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