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-- Posted 21 February, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss | Gold | $679.50 | +$22.00 | Silver | $14.26 | +$0.45 | XAU | 145.82 | +3.72% | HUI | 354.57 | +4.56% | GDM | 1133.60 | +3.94% | JSE Gold | 2753.30 | +0.51% | USD | 84.22 | +0.05 | Euro | 131.42 | +0.07 | Yen | 82.70 | -0.58 | Oil | $60.07 | +$1.22 | 10-Year | 4.692% | +0.012 | T-Bond | 111.46875 | -0.15625 | Dow | 12738.41 | -0.38% | Nasdaq | 2518.42 | +0.21% | S&P | 1457.63 | -0.14% |
The Metals:  Gold traded mostly slightly higher in Asia and London before it dipped slightly in early New York trade to $656.50, but it then climbed above $660 in midmorning trade and began to accelerate its gains at about 11AM EST. Gold surged higher for most of the rest of trade and briefly topped $682 at one point before it dropped a bit off its highs in the last minutes of trade, but it still ended with an impressive gain of 3.35%. Silver dropped to $13.68 before it also rallied higher for most of the rest of trade and ended near its highs with a gain of 3.26%.
Euro gold rose over €515, platinum gained $16 to $1,226, palladium gained $6 to $342, and copper rose roughly 10 cents to about $2.68. Gold and silver equities found only slight gains in the first hour and a half of trade, but they then steadily rose for the rest of trade and ended with about 4% gains. The Economy: Report | For | Reading | Expected | Previous | CPI | Jan | 0.2% | 0.1% | 0.4% | Core CPI | Jan | 0.3% | 0.2% | 0.1% | Leading Indicators | Jan | 0.1% | 0.2% | 0.6% |
FOMC Minutes from the fed’s January 31st meeting showed that fed officials continue to be concerned about inflation, but believe that economic risks posed by the slowdown in housing have “diminished somewhat.” Tomorrow at 8:30AM EST brings Initial Jobless Claims for 2/17 expected at 325,000 and at 10AM is the Help-Wanted Index for January expected at 34. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil rose back above $60 on refinery shutdowns, renewed tensions over Iran, and expectations for draw downs in tomorrow’s inventory reports. The U.S. dollar index rose and treasuries fell as CPI came in higher than expected and reduced hopes for a cut in interest rates by the fed. The dollar also found support as the yen fell despite a hike in interest rates by the Bank of Japan as they indicated any future hikes would be gradual. The Dow, Nasdaq, and S&P fell in early trade on worries over inflation and interest rates, but the Nasdaq was able to find slight gains by the close on strength in Apple’s shares. Among the big names making news in the market today were YouTube and CBS, JetBlue, Taser, and Medco. The Commentary:  “April Gold finished up 23 at 684, 2.4 off the high and 23.5 up from the low.
March Silver closed up 0.443 at 14.273. This was 0.533 up from the low and 0.037 off the high. All in all the bull camp has to come away from the action Wednesday with a large measure of confidence. In fact, the bull camp early in the session didn't seem to be put off the least bit by the fact that oil prices were weak and the Dollar was higher. While the gold market hasn't been specifically lifted lately by the anticipation of inflation, it was clear that a minor up tick in the US CPI report prompted widespread bargain hunting buying. In fact, it was probably the "excluding" Food & Energy component gain that really inspired the buyers but with oil prices recovering and the UN potentially poised to take a harder line with Iran the market was certainly flush with a number of potentially bullish fundamental developments. Some players even suggested that the technicals were responsible for the recovery, as early selling might have ended up catching a number of shorts in the wrong side of the market. In the end, minute by minute price correlations would seem to suggest that the action in the oil market was the most dominating bullish catalyst. While the silver market was initially divergent with the gold market, silver had no difficulty tracking with gold on Wednesday. With the copper and platinum markets also joining in on the rally it was clear that a broad cross section of buyers were moving into the market. Extremely favorable earnings and costs news from Hecla Mining might even serve to spark a wave of merger/buyout talk in mining shares or it is possible that the news will also serve to attract fresh speculative investors in the futures markets.” - The Hightower Report, Futures Analysis and Forecasting GATA Posts: 
ROB-TV's Jim O'Connell takes medical leave Peter Grandich: Year of the pig and the trip to the slaughterhouse Vietnam forsakes real economy for stock trading Mark Hulbert blames bugs, not central banks, for gold's struggle The Statistics: As of close of business: 2/20/2007 Gold Warehouse Stocks: | 7,487,582 | - | Silver Warehouse Stocks: | 116,539,631 | + 272,835 |
Global Gold ETF Holdings [WGC Sponsored ETF’s]  | Product name | Total Tonnes | Total Ounces | Total Value | New York Stock Exchange (NYSE) AND Singapore Exchange (SGX) | Streettracks Gold Shares | 475.76 | 15,296,086 | US$ 10,153m | LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 87.08 | 2,799,602 | US$ 1,900m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.08 | 355,783 | US$ 242m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 10.24 | 329,308 | US$ 218m |
Note: No change in Total Tonnes from yesterday’s data. COMEX Gold Trust (IAU) Profile as of 2/20/2007 | | Total Net Assets | $922,148,840 | Ounces of Gold
in Trust | 1,403,670.518 | Shares Outstanding | 14,150,000 | Tonnes of Gold
in Trust | 43.66 |
Note: No change in Total Tonnes from yesterday’s data. Silver Trust (SLV) Profile as of 2/20/2007 | | Total Net Assets | $1,751,312,910 | Ounces of Silver
in Trust | 126,026,951.100 | Shares Outstanding | 12,650,000 | Tonnes of Silver
in Trust | 3,919.88 |
Note: Change in Total Tonnes from yesterday’s data: 30.98 tonnes were added to the trust. The Stocks: Fronteer’s (FRG) offering in Canada, Kinross Gold’s (KGC) fourth quarter and full-year results, U.S. Energy’s (USEG) drill results, Great Basin’s (GBN) purchase of Hecla’s earn-in rights in the Hollister Development Block project and framework agreement to meet BEE objectives, Pacific Rim’s (PMU) project update, Orezone’s (OZN) assay results, IAMGOLD’s (IAG) 2006 operating results and guidance, Glencairn’s (GLE) expansion plans, MAG Silver’s (MAG.V) drilling, Almaden’s (AAU) optioned project to Apex Silver (SIL), Orko’s (OK.V) sampling results, Apogee’s (APE.V) resource estimate, and Hecla’s (HL) earnings were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Hecla Mining | HL +11.4% $8.11 | 2. Great basin | GBN +10.05% $2.08 | 3. Royal Gold | RGLD +8.02% $34.74 |
LOSERS 1. Anglo American | AAUK -1.64% $25.17 | 2. Fronteer | FRG -1.42% $13.19 | 3. Ivanhoe | IVN -0.88% $10.17 |
Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1. All of today's gold and silver stock news: Fronteer Announces Marketed Deal in Canada - "Fronteer Development Group Inc. ("Fronteer" or the "Company") (Toronto:FRG.TO - News)(AMEX:FRG - News) is pleased to announce that it has filed a preliminary prospectus in connection with an overnight-marketed public offering (the "Offering") of common shares in Canada. The Offering will be conducted through a syndicate of Canadian underwriters." More
- February 21, 2007 | Item | E-mail
Kinross Gold Achieves Record Fourth Quarter and Full-Year Results: Financial News - Yahoo! Finance - "Net earnings for the fourth quarter were $41.0 million or $0.11 per share (diluted), compared to a net loss of $154.3 million or $0.45 per share in the same period last year. Net earnings for the full-year were a record $165.8 million or $0.47 per share (diluted), compared with a net loss of $216.0 million in the same period last year. Net earnings in the fourth quarter were reduced by $0.01 per share (diluted) as a result of the impairment of certain long-term investments, partially offset by a gain on asset sales." More
- February 21, 2007 | Item | E-mail
Consolidated Gulfside Resources Ltd. - Confirmation of large Soviet Era Copper Anomalies - More
- February 21, 2007 | Item | E-mail
Hecla posts Q4 profit, shares rise to 3-year high - "Hecla Mining Co. (HL.N: Quote, Profile , Research) posted a profit in the fourth quarter largely due to higher-than-expected production and high metal prices, sending its shares to a three-year high.
The precious metals company reported earnings of 17 cents a share, compared with a loss of 6 cents per share a year earlier. Revenue rose to $70.3 million from $30 million a year ago." More
- February 21, 2007 | Item | E-mail
Bluerock Resources Signs Option Agreement on Tramp Mine Project, Montrose County, Colorado, USA - More
- February 21, 2007 | Item | E-mail
First Gold Exploration Inc. Announces the Closing of its Initial Public Offering - More
- February 21, 2007 | Item | E-mail
Golden Tag Resources Ltd: Diamond Drilling Commences on McCuaig Red Lake, Ontario Property - More
- February 21, 2007 | Item | E-mail
Global Uranium and Forum Uranium Complete Phase I Drilling at Orchid Lake - More
- February 21, 2007 | Item | E-mail
Grandview Gold Inc.: Drilling Completed at Rocky Ridge Gold Property, Manitoba - More
- February 21, 2007 | Item | E-mail
MacDonald Mines/Virginia JV Drill Program Commencing on LG 3.5 Property, Northwestern Quebec - More
- February 21, 2007 | Item | E-mail
Geoinformatics Announces Final 2006 Drilling Results on Its British Columbia Projects With Four Targets Drilled and Three Mineralized Systems Intersected - More
- February 21, 2007 | Item | E-mail
Strategic Resources Acquires Interests in Uranium Properties in Argentina - More
- February 21, 2007 | Item | E-mail
Candente Trades on Lima Stock Exchange - More
- February 21, 2007 | Item | E-mail
New Guinea Gold: 3m at 180g/t Gold (6 ozs) within 24m at 33.7g/t Gold in Trench at Mt Penck - More
- February 21, 2007 | Item | E-mail
Gitennes Exploration - Tucumachay, Totoroko and Royalty updates - More
- February 21, 2007 | Item | E-mail
Brazauro to Raise $8,325,000 - More
- February 21, 2007 | Item | E-mail
Record Date for Issuance of Stock Dividends of Philippines Royal Oil & Alternative Energy Co., Inc. to PAIM Shareholders Moved to February 26, 2007 - More
- February 21, 2007 | Item | E-mail
Vangold Resources Ltd.: 3m at 180 g/t Gold (6ozs) Within 24m at 33.7 g/t Gold in Trench at Mt. Penck - More
- February 21, 2007 | Item | E-mail
Gold Bullion Development Corp.: Granada Mine Property-Open Pit Mining Operations - More
- February 21, 2007 | Item | E-mail
Merrex Launches 15,000 Metre Diamond Drill Program at Jubilee - More
- February 21, 2007 | Item | E-mail
Caledonia Does Amended SEDAR Filings - More
- February 21, 2007 | Item | E-mail
Golden Peaks Resources Ltd. - La Fortuna Project - Two New Discoveries - More
- February 21, 2007 | Item | E-mail
North American Palladium Fourth Quarter & Year End 2006 Financial Results and Conference Call - "North American Palladium Ltd. ("NAP") (Toronto:PDL.TO - News)(AMEX:PAL - News) plans to announce its fourth quarter & year end financial results for 2006 after market on Tuesday, February 27th, 2007. A conference call to discuss the results will be held on Friday, March 2, 2007 at 8:30 a.m. ET, presided by Mr. James Excell, President and CEO. A question and answer period will immediately follow." More
- February 21, 2007 | Item | E-mail
Valdez Gold updates exploration at Jarros Norte - More
- February 21, 2007 | Item | E-mail
Vault Minerals increases private placement - More
- February 21, 2007 | Item | E-mail
Latin American Minerals Acquires Option Over the Paso Yobai Gold Project in Paraguay - More
- February 21, 2007 | Item | E-mail
Aurelian Receives Conditional Approval to List on Toronto Stock Exchange - More
- February 21, 2007 | Item | E-mail
Cloudbreak Resources Appoints Advisor - More
- February 21, 2007 | Item | E-mail
Pebble Creek's high-grade zinc and copper at Askot, India - More
- February 21, 2007 | Item | E-mail
Typhoon: Resource Grades at Fayolle Showing Similar to Other Gold Mineralization Systems in Quebec and Ontario - More
- February 21, 2007 | Item | E-mail
Nevada Copper Drills 38.4 Meters at 1.73% Copper - More
- February 21, 2007 | Item | E-mail
Cascadero Copper Corporation Argentine Property Due Diligence Begins - More
- February 21, 2007 | Item | E-mail
Copper Fox Welcomes New Executive to the Team - More
- February 21, 2007 | Item | E-mail
Step-out drill holes at Big Bar's Yuma King project result in discovery of porphyry copper-molybdenum system - More
- February 21, 2007 | Item | E-mail
U.S. Energy Corp. Announces That Sutter Gold Drilling Continues to Expand Gold Zones - "U.S. Energy Corp. (USE) (Nasdaq: USEG - News) announced that Sutter Gold Mining Inc. (TSX-VX: SGM) today announced the latest assay results from its surface and underground diamond drilling programs at the project site located in the historic Mother Lode District east of Sacramento, California. Holes 182 through 185, and Hole KDH-22 have continued to discover gold mineralization in both the Lincoln and Keystone areas of the project." More
- February 21, 2007 | Item | E-mail
MAG Silver Resumes Drilling at Batopilas - "MAG Silver Corp. (CDNX:MAG.V - News) announces that the planned 2007 drill program has begun at its 100% owned Batopilas Silver Project in the western Sierra Madres of Chihuahua State, Mexico. Drilling will be targeted on areas identified by the detailed property wide exploration programs conducted during the summer and fall field season. These targets include the immediate areas of Las Animas, Arbetrios (Todos Santos) and Pastrana historical workings." More
- February 21, 2007 | Item | E-mail
Temex: Silver Tailings Project Update Gowganda Silver Project - More
- February 21, 2007 | Item | E-mail
Western Warrior to commence drilling on Pipestone Project in Northwestern Ontario - More
- February 21, 2007 | Item | E-mail
Gemini Explorations, Inc Announces Agreement in Principle With Minera Primecap Geological Services of Medellin, Colombia - More
- February 21, 2007 | Item | E-mail
Candorado Operating Company Ltd. Enters Into an Option Agreement on Riley and Summer Properties Near Spout Lake, British Columbia - More
- February 21, 2007 | Item | E-mail
Keegan Resources Inc.: Resource Drilling Program Yields Higher Gold Grades at Esaase Gold Project - More
- February 21, 2007 | Item | E-mail
Skygold Ventures Ltd.-Drilling Confirms Geophysical Targets: Expanding Area of Interest by 4-5 Times at Spanish Mountain Sediment Hosted Gold System - More
- February 21, 2007 | Item | E-mail
Western Copper Corporation; Carmacks Copper Project: Assay Results Complete from 2006 Drilling Program - More
- February 21, 2007 | Item | E-mail
Southwestern Intersects High Grade Gold at the Boka 1 South Deposit, Boka Gold Project, China - More
- February 21, 2007 | Item | E-mail
Virginia Mines Inc.: Exploration Budget of Over CA$ 16 Million for the Year 2007 - More
- February 21, 2007 | Item | E-mail
Sulliden starts exploration program at Torrine - More
- February 21, 2007 | Item | E-mail
/R E P E A T/ - Dynacor to spin off gold assets to shareholders - More
- February 21, 2007 | Item | E-mail
Scorpio Receives Metallurgical Test Work and Moves Forward - More
- February 21, 2007 | Item | E-mail
General Metals Corporation Receives Strong Upgrade by Respected Research Firm - More
- February 21, 2007 | Item | E-mail
El Capitan Announces Preliminary Results of Fire Assay Investigation - More
- February 21, 2007 | Item | E-mail
Almaden Options Viky Project, Mexico to Apex Silver - "Almaden Minerals Ltd. (Toronto:AMM.TO - News)(AMEX:AAU - News) ("Almaden") is pleased to announce that it has optioned its wholly owned Viky silver-lead-zinc project in Mexico to Apex Silver (AMEX:SIL - News). Apex Silver can earn a 60% interest from Almaden by spending US$5.6 M and by making cash payments to Almaden of US$1.35 M over 5 years. Apex Silver is committed to spend US$250,000 in the first year and make an initial payment of US$100,000 to Almaden." More
- February 21, 2007 | Item | E-mail
Drilling Commences on the West Cedartree Gold Project - More
- February 21, 2007 | Item | E-mail
Great Basin Gold Purchases Hecla's Interest in Hollister Development Block Project in Nevada - "Great Basin Gold Ltd. (Toronto:GBG.TO - News) (AMEX:GBN - News) (JSE: GBGOLD) ("Great Basin Gold" or the "Company") announces that it has purchased Hecla Mining Company's 50% earn-in rights in the Hollister Development Block (HDB) project on the Carlin Trend in Nevada for a total of US$60 million, comprising US$45 million in cash and the remaining US$15 million in Great Basin Gold common stock (approximately 7.8 million shares)." More
- February 21, 2007 | Item | E-mail
Yellowcake Mining Inc. Closes Private Placement and Appoints Dick Klatt to its Board of Directors - More
- February 21, 2007 | Item | E-mail
Pacific Rim Mining Corp.: Santa Rita Gold Project Update - "A meeting scheduled for mid-February 2007 between Pacific Rim Mining Corp. ("Pacific Rim" or the "Company") (Toronto:PMU.TO - News)(AMEX:PMU - News), local community representatives, and two El Salvadoran Non-Governmental Organizations ("NGOs") responsible for organizing anti-mining protests at the Company's Santa Rita gold project in El Salvador in late 2006 is being rescheduled and moved to San Salvador from the local city of Sensuntepeque. Pacific Rim strongly supports these changes and is eager to continue to participate openly and in good faith." More
- February 21, 2007 | Item | E-mail
Orko Silver's Santa Monica Project Yields Excellent Gold and Silver Values-Geophysical Survey to be Conducted - "Orko Silver Corp. (TSX VENTURE:OK - News) is pleased to announce that extensive float-boulder sampling on the Santa Monica Project in Durango State, Mexico, has yielded excellent values in the "Mesa de los Panuquenos" area in the northeast of the concession. These results, as well as observations during mapping, have lead to the decision to conduct an IP (Induced Polarization) geophysical survey." More
- February 21, 2007 | Item | E-mail
Eldorado Gold Announces 2006 Financial Results Release Date and Conference Call - "Eldorado Gold Corporation (Toronto:ELD.TO - News)(AMEX:EGO - News) will release its 2006 Financial Results before markets open on Friday, March 23, 2007. Following the release, Paul Wright, President and Chief Executive Officer of the Company, will host a conference call at 8:00 AM PT (11:00 AM ET) on March 23, 2007." More
- February 21, 2007 | Item | E-mail
Orezone Drilling Expands Kossa South Zones - "Orezone Resources Inc. (Toronto:OZN.TO - News)(AMEX:OZN - News) is pleased to report assay results from the second phase of drilling on the Company's 100 per cent owned Kossa permit in Niger, West Africa. The 2000km2 Kossa property is located immediately adjacent to the Orezone/Gold Fields Limited Essakane Project with the two properties being separated by the border between Burkina Faso and Niger. A total of 2,293 m of reverse circulation ("RC") drilling was performed along a 1,400m strike length of the Kossa South Target where most holes intersected gold mineralization under extensive sand cover." More
- February 21, 2007 | Item | E-mail
Apogee Reports 43-101 Indicated Resource at 100% Owned La Solucion Silver-Zinc Mine - "Apogee Minerals Ltd. (TSX VENTURE:APE - News) has received a NI 43-101 Resource Estimate totalling 116,300 tonnes grading 5.1% zinc, 54g silver/t, 1.2% lead in the Indicated category for the Hampaturi South Zone at its 100% owned La Solucion Mine." More
- February 21, 2007 | Item | E-mail
IAMGOLD 2006 Operating Results and 2007 Guidance - "IAMGOLD Corporation ("IAMGOLD" or "the Company") (Toronto:IMG.TO - News)(NYSE:IAG - News)(ASX:IGD.AX - News)(Boston:IAMGOLD - News) announced today that the Company produced 642,000 ounces of gold in 2006 at a weighted average cash cost of US$321 / ounce. This represents a 44% increase in production from 2005 and a 16% increase in costs over the same period." More
- February 21, 2007 | Item | E-mail
International Royalty Corporation - Conference Call Notification - "The Company will host its quarterly conference call Friday, February 23, 2007 at 10:30 AM EDT, 8:30 AM MST." More
- February 21, 2007 | Item | E-mail
Great Basin Gold Concludes Framework Agreement to Meet BEE Objectives for Its Burnstone Gold Project in South Africa - "Great Basin Gold Ltd. ("Great Basin Gold" or the "Company") (Toronto:GBG.TO - News)(AMEX:GBN - News)(JSE: GBGOLD) has entered into a framework agreement whereby it will achieve compliance with the requirements of South Africa's Broad Based Black Economic Empowerment Act (the "Act") and thereby secure its New Order Prospecting Rights(1) in respect of its principal South African mining project, the Burnstone Gold Project (the "Burnstone Project")." More
- February 21, 2007 | Item | E-mail
Hecla Announces Sale of Hollister Project - "Hecla Mining Company's (NYSE:HL - News) subsidiary, Hecla Limited, has agreed to sell its interest in the Hollister Development Block gold exploration project in Nevada to its partner, Great Basin Gold, Inc., for a total of $60 million, including $45 million in cash and $15 million in Great Basin Gold common stock. The number of shares is to be determined by the average trading price 20 business days prior to the announcement of the transaction." More
- February 21, 2007 | Item | E-mail
Glencairn Plans Expansion at Libertad Mine - "Glencairn Gold Corp. (Toronto:GGG.TO - News)(Toronto:GGG-WT.TO - News)(AMEX:GLE - News) is pleased to announce that it is planning to expand gold production at its Libertad Mine in Nicaragua by converting the heap-leach mine to a conventional milling operation. Preliminary internal studies have been undertaken in consultation with engineering firm AMEC Americas Limited." More
- February 21, 2007 | Item | E-mail
Hecla Reports Highest Earnings and Lowest Reported Cash Cost for Silver in 116-Year History and Achieves Exploration Success by Increasing Silver Reserves - "Hecla Mining Company (NYSE:HL - News) today reported 2006 income applicable to common shareholders of $68.6 million, or 57 cents per share, compared to a loss of $25.9 million, or 22 cents per share, during 2005. Earnings were reported on revenue of $217.4 million, which is 30% more revenue than the next best year for revenue in Hecla's 116-year history. Net income was 20% higher than the company's next best year, and cash provided by operations of $61.5 million was 70% better than any other year. Hecla's cash cost per ounce of silver in 2006 was the lowest since that statistic has been reported, at just 24 cents per ounce." More
- February 21, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report - Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here Additional Resources for today’s Gold Seeker Report can be found: © Gold Seeker 2007 Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given. Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.
-- Posted 21 February, 2007 | |
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