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-- Posted 22 February, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss | Gold | $679.20 | -$0.30 | Silver | $14.22 | -$0.04 | XAU | 146.35 | +0.36% | HUI | 356.34 | +0.50% | GDM | 1135.77 | +0.19% | JSE Gold | 2843.02 | +3.26% | USD | 84.33 | +0.11 | Euro | 131.29 | -0.13 | Yen | 82.32 | -0.38 | Oil | $60.95 | +$0.88 | 10-Year | 4.730% | +0.038 | T-Bond | 111.0625 | -0.40625 | Dow | 12686.02 | -0.41% | Nasdaq | 2524.94 | +0.26% | S&P | 1456.38 | -0.09% |
The Metals:  Gold fell slightly in Asia, rebounded to about unchanged in London, fell back to $675.40 in midmorning New York trade, rallied back above $680 in early afternoon trade, fell off just slightly into the close, and ended with a small loss of 0.04%. Silver fell to $14.11 before it rallied to above $14.30, but it also fell off a bit into the close and ended with a loss of 0.28%.
Euro gold remained above €515, platinum lost $2 to $1,224, palladium gained $4 to $346, and copper gained another 10 cents to about $2.78. Gold and silver equities rose over 1% at the open before they fell off and briefly saw minimal losses by late morning, but they then rallied back higher in afternoon trade and closed with small gains. The Economy: Report | For | Reading | Expected | Previous | Initial Claims | 2/17 | 332K | 325K | 359K | Help-Wanted Index | Jan | 32 | 34 | 34 |
There are no major economic reports due out tomorrow. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil eventually rose on geopolitical tensions as Iran has defied a UN deadline and not stopped its nuclear program. Inventory data was mixed as crude inventories built 3.7 million barrels, gasoline inventories fell 3.1 million barrels, distillates fell 5.0 million barrels, and natural gas stock fell 223 billion cubic feet. The U.S. dollar index rose and treasuries fell in continued reaction to yesterday’s CPI data that cut hopes for an interest rate cut by the fed. The Dow and S&P fell on worries over Iran and higher oil while the Nasdaq found slight gains on a strong outlook from Analog Devices Inc. Among the big names making news in the market today were Safeway, Newmont, Barrick, Nestle, HSBC, Apple and Cisco, Toll Brothers, J.C. Penny, and OfficeMax. The Commentary:  “April Gold finished down 1 at 683, 1.7 off the high and 4.2 up from the low.
March Silver closed down 0.023 at 14.25. This was 0.08 up from the low and 0.11 off the high. The bull camp in gold might have been a little disappointed in the price action Thursday, especially in the wake of the heavy flow of inflationary news and most specifically because of the rather impressive recovery in the energy complex. Some Press outlets were suggesting during the session that the gold market was destined to be supported by the ongoing carry trade in the Yen, but apparently a sharp downside move in the Yen on Thursday didn't provide any support to gold. Even the geopolitical front seemed to provide the gold bulls with a measure of flight to quality concern but even that didn't seem to shift the market into a patently supportive posture. In the end the rally in oil seemed to be offset by strength in the Dollar and perhaps some simple profit taking interest from the prior session. The silver market was unable to get out from under the choppy to weak action in the gold market in the action Thursday. Apparently the strength in oil prices, the initial new highs in equity prices and a number of anecdotal inflationary signals wasn't enough to clearly put silver in positive ground. Even more surprising is the fact that a massive rally in copper prices couldn't shake the silver market out of a quasi profit taking mode. Even more surprising is the fact that Mexican miner Penoles share price jumped aggressive on Thursday but even that didn't foster enough optimism to lift silver futures prices.” - The Hightower Report, Futures Analysis and Forecasting GATA Posts: 
Might be good if they put some of this into gold GoldSeek's 'Virtual Gold Investment Conference' is on the air Barrick accelerates reduction of gold hedges You can know a few things, or you can have technical analysis A courageous and principled politician in action Peter Millar: Seven-fold increase in gold needed to avert debt depression The Statistics: As of close of business: 2/21/2007 Gold Warehouse Stocks: | 7,487,276 | -306 | Silver Warehouse Stocks: | 116,016,794 | -482,360 |
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 | 479.77 | 15,424,928 | US$ 10,197m | LSE (London Stock Exchange) AND Euronext Paris | Gold Bullion Securities | 87.08 | 2,799,571 | US$ 1,896m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 11.08 | 355,779 | US$ 241m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 10.24 | 329,304 | US$ 217m |
Note: Change in Total Tonnes from yesterday’s data: The NYSE added 4.01 tonnes to its trust. COMEX Gold Trust (IAU) Profile as of 2/21/2007 | | Total Net Assets | $950,492,878 | 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 2/21/2007 | | Total Net Assets | $1,731,124,607 | Ounces of Silver
in Trust | 126,026,951.100 | Shares Outstanding | 12,650,000 | Tonnes of Silver
in Trust | 3,919.88 |
Note: No change in Total Tonnes from yesterday’s data. The Stocks: Earnings from International Royalty (ROY), Richmont (RIC), Newmont (NEM), Coeur (CDE), Barrick (ABX), and Pan American (PAAS), Barrick’s project update, Fronteer’s (FRG) offering in Canada, Cumberland’s (CLG) agreement with Nunavut, International Royalty’s dividend and agreement to acquire a royalty, Golden Star’s (GSS) offering, Exeter’s (XRA) drill results, Banro’s (BAA) drilling update, and Pan American’s Board of Director changes were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Northern Dynasty | NAK +10.67% $10.68 | 2. Minco Gold | MGH +4.46% $1.64 | 3. International Royalty | ROY +4.18% $5.23 |
LOSERS 1. Mines MGMT | MGN -3.67% $5.78 | 2. Northgate | NXG -3.12% $3.73 | 3. Claude Resources | CGR -2.89% $1.68 |
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: Raven Gold Corp. Announces Two for One Forward Stock Split - More
- February 22, 2007 | Item | E-mail
Kakanda and Hinterland Combine Interests and Form Otish Basin Joint Venture - More
- February 22, 2007 | Item | E-mail
International Royalty declares first dividend - "International Royalty Corporation (AMEX: ROY, TSX: IRC) (the "Company"or "IRC") is pleased to report that its Board of Directors declared a dividend on February 22, 2007 of US$0.015 per share. The dividend is payable to shareholders of record on March 9, 2007 and will be paid on or about March 26, 2007." More
- February 22, 2007 | Item | E-mail
Zincore and Brett Execute Definitive Earn-In Agreements on Cerro Condorini Property - More
- February 22, 2007 | Item | E-mail
Shares of International Millennium Mining Corp. to commence trading - More
- February 22, 2007 | Item | E-mail
Win-Eldrich Mines' Ashdown Project completes third sale of molybdenum concentrate and mine ramp-up continues - More
- February 22, 2007 | Item | E-mail
Solid Resources announces updates - More
- February 22, 2007 | Item | E-mail
Yale to Start Work on Carol Cu-Zn Property, Sonora, Mexico - More
- February 22, 2007 | Item | E-mail
Sunridge Gold Corp. at the 2007 Gold Investment Conference - More
- February 22, 2007 | Item | E-mail
Canarc Resource Corp. Announces the Following Webcast - More
- February 22, 2007 | Item | E-mail
Carat to Commence Operations at the Combarbala Property - More
- February 22, 2007 | Item | E-mail
Buffalo Gold Ltd. at the 2007 Gold Investment Conference - More
- February 22, 2007 | Item | E-mail
Gold Resource Corporation at the 2007 Gold Investment Conference - More
- February 22, 2007 | Item | E-mail
Temporary suspension at the Copper Rand mine - More
- February 22, 2007 | Item | E-mail
International Royalty 2006 revenues exceed US$20 million - "IRC's 43-101 report on the Voisey's Bay project contains the last publicly reported production schedule for the project. According to this schedule, the mine is expected to produce 32% more nickel, 29% more copper and 28% more cobalt in 2007 than was projected for 2006. Assuming a price of $12.50 per pound of nickel, $2.50 per pound of copper and $15.00 per pound of cobalt, IRC estimates that this amount of stated production would generate between $30 million and $35 million in royalty revenues for 2007." More
- February 22, 2007 | Item | E-mail
Skyline Announces Preparation of NI 43-101 Compliant Report - More
- February 22, 2007 | Item | E-mail
Cardero Acquires 150 km2 Uranium Prospect in Peru - More
- February 22, 2007 | Item | E-mail
Olympus: Major Potential Indicated: 300 Meter Step-Out Hole Hits 12.24 G/T at High Grade Phuoc Son Property - More
- February 22, 2007 | Item | E-mail
Goldbelt drills 30m at 3.06g/t gold at Souma Trend - More
- February 22, 2007 | Item | E-mail
Plexmar Resources Announces Escondida IV Has Same Geological Unit as Aurelian's Fruta del Norte - More
- February 22, 2007 | Item | E-mail
Quinsam Capital Corporation launches web site - More
- February 22, 2007 | Item | E-mail
New Guinea Gold Corporation: Private Placement Increased to 12 Million Units for up to $5,040,000 - More
- February 22, 2007 | Item | E-mail
Forsys Metals Corp.: Valencia Exclusive Prospecting Licence Granted - More
- February 22, 2007 | Item | E-mail
Exploration Update - More
- February 22, 2007 | Item | E-mail
American Bonanza Phase I Drilling Success at Northshore - More
- February 22, 2007 | Item | E-mail
Second Drill Rig Starts Up at Sangdong; Grab Sample Results From the Chongyang Mine - More
- February 22, 2007 | Item | E-mail
Vior Signs Agreement on Buteux-Desgagne Property - More
- February 22, 2007 | Item | E-mail
Aurelian Intersects 97.54 Metres at 11.92 g/t Gold and 40.13 Metres at 5.27 g/t Gold in Drilling at FDN - More
- February 22, 2007 | Item | E-mail
Matamec Begins Drilling on Montclerg Gold Zone - More
- February 22, 2007 | Item | E-mail
Monroe Minerals Announces $1,500,000 Million Unit Offering - More
- February 22, 2007 | Item | E-mail
Temoris Resources: Work Program Starts on Mapami - More
- February 22, 2007 | Item | E-mail
Golden Eagle Establishes Critical Path for Expanding into Commercial Production at C Zone - More
- February 22, 2007 | Item | E-mail
Hawk Precious Minerals Inc. Options Additional Interests Contiguous to its Grand Calumet Uranium-Fluorite Property - More
- February 22, 2007 | Item | E-mail
Erdene Appoints Minarco as Advisor for Zuun Mod Molybdenum Project - More
- February 22, 2007 | Item | E-mail
Alamos Gold Inc. Operations Update and Year End Financial Release Notification - More
- February 22, 2007 | Item | E-mail
BacTech Receives Results From Quinto Mining - More
- February 22, 2007 | Item | E-mail
Intrepid Announces Update to Resource and Reserve at Paulsens - More
- February 22, 2007 | Item | E-mail
Azco Mining Becomes Current with SEC Financial Reporting; Company Eligible to Return to OTCBB - More
- February 22, 2007 | Item | E-mail
South American Minerals, Inc. Announces January Gold Production and Sales Strong - More
- February 22, 2007 | Item | E-mail
Linux Gold Receives 2007 Exploration Program on the 100% Owned Platinum/Gold and Uranium Property in Alaska - More
- February 22, 2007 | Item | E-mail
Unico, Inc. Announces Next Round of $1 Million Private Placement Financing - More
- February 22, 2007 | Item | E-mail
Louvem Mines Announces its 2006 Fourth Quarter Results and 2006 Year End Results - More
- February 22, 2007 | Item | E-mail
Franklin's Expanded Pulacayo Due Diligence Is Complete - More
- February 22, 2007 | Item | E-mail
Everton Commences Drilling at the Claude Target in the Opinaca Gold Discovery Region, James Bay, Quebec - More
- February 22, 2007 | Item | E-mail
General Metals Welcomes Robert G. Carrington P.Geo to the Advisory Board and to Our Operations Team - More
- February 22, 2007 | Item | E-mail
HudBay Announces Completion of Covenant Defeasance of Outstanding 9 5/8% Senior Secured Notes Due 2012 - More
- February 22, 2007 | Item | E-mail
Redcorp Ventures Ltd.: Letter Agreement Executed Between Redfern Resources Ltd. and Taku River Tlingit First Nation - More
- February 22, 2007 | Item | E-mail
Golden Phoenix's Ashdown Project Completes Third Sale of Molybdenum Concentrates; Mine Ramp-Up Continues - More
- February 22, 2007 | Item | E-mail
Sonora Gold Corp. Signs LOI to Sell Santa Gertrudis Gold Property - More
- February 22, 2007 | Item | E-mail
Barrick Updates Project Pipeline and Demonstrates Valuation Opportunity - "Barrick Gold Corporation (NYSE:ABX - News)(Toronto:ABX.TO - News)(LSE:BGD.L - News) announced today it has begun to harvest opportunities from a project pipeline unparalleled in the gold mining industry. The Company considerably advanced technical reviews and updated the investment community on its extensive pipeline of gold projects, advanced exploration properties, as well as additional joint venture projects for platinum group metals and nickel." More
- February 22, 2007 | Item | E-mail
Newmont Mining, Barrick Report Surge in Profit After Rally in Gold Prices - "Barrick Gold Corp., the world's largest gold producer, and Newmont Mining Corp. said profits surged in the fourth quarter as the price of bullion jumped.
Net income doubled to $418 million, or 48 cents a share, from $175 million, or 32 cents, a year earlier, Toronto-based Barrick said today in a statement. Denver-based Newmont, the world's second-largest producer, said net income tripled to $223 million, or 49 cents a share, from $62 million, or 14 cents." More
- February 22, 2007 | Item | E-mail
Fronteer Announces $60.5 Million Underwritten 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 entered into an underwriting agreement with a syndicate of Canadian underwriters to sell 4.1 million common shares at a price of $14.75 per share to raise gross proceeds of C$60,475,000 (the "Offering"). The Company intends to use the net proceeds of the Offering for strategic investments and for future acquisitions." More
- February 22, 2007 | Item | E-mail
Mega Announces Wide Intersections of greater than 0.1% U3O8 in its Validation Drilling of the Maureen Uranium Resource, Queensland, Australia - More
- February 22, 2007 | Item | E-mail
BacTech Receives Results From Quinto Mining - More
- February 22, 2007 | Item | E-mail
Consolidated Pacific Bay Minerals Ltd.: $1.44 Million Financing Arranged for Otish Uranium Projects - More
- February 22, 2007 | Item | E-mail
Uranium Assays at Godbout "B" Property - More
- February 22, 2007 | Item | E-mail
Linux Gold Receives 2007 Exploration Program on the 100% Owned Platinum/Gold and Uranium Property in Alaska - More
- February 22, 2007 | Item | E-mail
Mawson identifies high-grade uranium at Stensjodalen in Sweden - More
- February 22, 2007 | Item | E-mail
Globex, Inc. announces partial condensed release of geologic report and disclosing of more claims acquisition as part of February 20th contract - More
- February 22, 2007 | Item | E-mail
Liberty Star -- XState Resources Ltd. -- Elle Uranium Drilling Program Started On Schedule February 15, 2007 - More
- February 22, 2007 | Item | E-mail
Crescent Announces Board Appointments - More
- February 22, 2007 | Item | E-mail
Cumberland Announces Agreement with Government of Nunavut and Receipt of Nunavut Water Board Licence for Road Construction - "CUMBERLAND RESOURCES LTD. (Toronto:CLG.TO - News)(AMEX:CLG - News) (the "Company") is pleased to announce that its wholly-owned subsidiary Meadowbank Mining Corporation ("MMC") and the Government of Nunavut ("GN") have signed a Development Partnership Agreement ("DPA") with respect to Cumberland's 100% owned Meadowbank gold project located 70 kilometres north of the hamlet of Baker Lake, Nunavut." More
- February 22, 2007 | Item | E-mail
International Royalty enters agreement to acquire energy-related Sand Royalty - "International Royalty Corporation (AMEX: ROY, TSX: IRC) (the "Company"or "IRC") reports that it has entered into an agreement to acquire a royalty (the "Royalty") on the Legacy Sand Project ("Legacy") in Nance County, Nebraska for US$12.0 million." More
- February 22, 2007 | Item | E-mail
Golden Star Announces Pricing of US$75.6 Million Common Share Offering - "Golden Star Resources Ltd. (TSX: GSC - News; AMEX: GSS - News) today announced that it has priced an offering of 21 million common shares at a price of US$3.60 per share resulting in $75,600,000 in gross proceeds or $72,198,000 in net proceeds to the Company, after deducting underwriting commissions but before deducting offering expenses. The underwriters have an option to acquire an additional 3,150,000 common shares for additional gross proceeds of $11,340,000 or net proceeds of $10,829,700." More
- February 22, 2007 | Item | E-mail
Exeter Discovers New Gold Zone at La Cabeza, Argentina - "Exeter Resource Corporation (CDNX:XRC.V - News)(AMEX:XRA - News)(Frankfurt:EXB.F - News) reports that drilling southeast of the known Mandibula deposit has discovered a new zone of mineralization, suggesting new potential for the 20 kilometre long Mandibula Fault Zone, at its La Cabeza gold project, in Argentina." More
- February 22, 2007 | Item | E-mail
Richmont Mines Announces 21% Increase in Gold Sales in 2006 - "For the 2006 fourth quarter, net income was $2.5 million, or $0.10 per share, compared with a net loss of $25.0 million in the 2005 fourth quarter, or $1.40 per share. Results for the 2005 fourth quarter were impacted by a $26.0 million non cash write-down of the East Amphi mining asset. For the full fiscal year, net income was $3.2 million, or $0.14 per share, compared with a net loss of $27.5 million, or $1.54 per share, in the prior year." More
- February 22, 2007 | Item | E-mail
Banro updates drilling results at Lugushwa - "Banro Corporation ("Banro" or the "Company") (AMEX - "BAA"; TSX - "BAA") is pleased to announce further results from the Company's 2006 core drilling program at its wholly-owned Lugushwa project, located on the Twangiza-Namoya gold belt in the Democratic Republic of the Congo (the "DRC")." More
- February 22, 2007 | Item | E-mail
Pan American Silver Announces Changes to Its Board of Directors - "Pan American Silver Corp. (NasdaqGS:PAAS - News) (Toronto:PAA.TO - News) (the ``Company'') today reports that Ross Beaty, current Executive Chairman of the Company, will become Non-Executive Chairman effective at the Company's upcoming Annual General Meeting on April 30. At the same time, Director John Wright will retire from the board of directors of the Company, but continue as special advisor. Mr. Robert Pirooz, who first joined Pan American in 1998 and currently serves as the Company's General Counsel and Secretary, will be nominated to fill the vacancy on the Board created by Mr. Wright's retirement." More
- February 22, 2007 | Item | E-mail
Newmont Announces Fourth Quarter and 2006 Results; Net Income Increases 146% to $791 Million ($1.76 Per Share) - "Newmont Mining Corporation (NYSE: NEM - News) today announced net income for 2006 increased 146% to $791 million ($1.76 per share) compared with $322 million ($0.72 per share) for 2005. Net income for the fourth quarter increased by 260% to $223 million ($0.50 per share), compared with $62 million ($0.14 per share) for the fourth quarter of 2005." More
- February 22, 2007 | Item | E-mail
Coeur Reports Record-Setting Full-Year Financial Performance and Strong Results for Fourth Quarter of 2006 - "Coeur d'Alene Mines Corporation (NYSE:CDE - News; TSX:CDM - News) today reported record net income for 2006 of $88.5 million, or $0.30 per diluted share, compared to net income of $10.6 million, or $0.04 per diluted share, for 2005. Results for 2006 include a gain of $11.1 million from the strategic sale of Coeur Silver Valley (CSV), as well as $1.9 million of income generated from CSV prior to the sale. Cash provided by operating activities increased more than 13-fold to $91.2 million for the full year 2006 as compared to $6.7 million in 2005." More
- February 22, 2007 | Item | E-mail
Barrick Earns $1.5 Billion ($1.77 per share) in 2006 - "Barrick Gold Corporation today reported record yearly financial results with net income of $1.51 billion ($1.77 per share) and operating cash flow of $2.12 billion ($2.48 per share) for 2006. Earnings and cash flow per share rose 136% and 84%, respectively, over 2005 levels of $0.75 and $1.35 per share. 2006 earnings were reduced by $211 million post-tax ($0.25 per share) of special items, (see page 18 of Management's Discussion and Analysis for further details)." More
- February 22, 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 22 February, 2007 | |
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