-- Posted 20 September, 2007 | | Source: SilverSeek.com
Note: Please join GoldSeek.com and SilverSeek.com at the Silver Summit on September 20th and 21st in Coeur d'Alene, Idaho and the Denver Resource Expo on September 21st and 22nd at the Colorado Convention Center.
Please also note: There will be not be a Gold Seeker report tomorrow.
| Close | Gain/Loss |
Gold | $731.70 | +$11.00 |
Silver | $13.31 | +$0.38 |
XAU | 172.13 | +3.60% |
HUI | 400.94 | +4.51% |
GDM | 1243.28 | +4.08% |
JSE Gold | 2780.90 | +2.53% |
USD | 78.61 | -0.71 |
Euro | 140.69 | +1.01 |
Yen | 87.27 | +1.06 |
Oil | $83.32 | +$1.39 |
10-Year | 4.672% | +0.148 |
T-Bond | 110.00 | -1.46875 |
Dow | 13766.70 | -0.35% |
Nasdaq | 2654.29 | -0.46% |
S&P | 1518.75 | -0.67% |
The Metals:
Gold rose to as high as $738.10 today and marked its highest price since climbing as high as $850 in January of 1980. After trading slightly higher in Asia and finding about 1% gains in London, gold rose even further to find over 2% gains by late morning in New York before it fell back off a bit into the close, but it still ended with a gain of 1.53%. Silver rose near $13.50 by late morning in New York before it also fell back off in afternoon trade, but it still ended with a notable gain of 2.94%.
Euro gold rose over €522, platinum gained $16 to $1323, palladium gained $2 to $334, and copper remained at about $3.58.
Gold and silver equities rose throughout most of trade and closed near their highs with about 4% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 9/15 | 311K | 320K | 320K |
Leading Indicators | Aug | -0.6% | 0.0% | 0.7% |
Philadelphia Fed | Sep | 10.9 | 2.5 | 0.0 |
Bernanke and Paulson testified before congress today about the housing crisis and said they were open to easing loan constraints on government-sponsored enterprises like Fannie Mae and Freddie Mac to help stabilize the mortgage market.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose to a new record high of $84.10 on the view that the fed’s rate cut will help keep demand strong while 28% of production in the Gulf of Mexico was shut down due to a developing storm in the Atlantic that is threatening facilities. The October contract expired today and tomorrow the front month contract will be November which closed up $0.93 to $81.78.
The U.S. dollar index plunged to a new 15 year low overall, dropped to a new all-time low versus the euro, and also fell to parity with the Canadian dollar for the first time in 31 years. In addition, the index closed just 0.42 points away from breaking through the previous all time low of 78.19 set in 1992. Lower U.S. interest rates from the fed continue to add selling pressure to the dollar, but there was yet another new reason today for the dollar to continue its recent downward spiral: “Saudi Arabia has refused to cut interest rates in lockstep with the U.S. Federal Reserve for the first time, signaling that the oil-rich Gulf kingdom is preparing to break the dollar currency peg in a move that risks setting off a stampede out of the dollar across the Middle East."
Bonds fell and treasury yields rose despite the fed’s larger than expected fed funds rate cut just two days ago. Concerns over inflation were Wall Street’s cited explanation, but of greater concern is the possibility that Saudi Arabia may lighten its Treasury holdings and join several other nations in their recent moves to break their dollar pegs and also diversify out of dollar based holdings of every sort.
The Dow, Nasdaq, and S&P fell on mostly poor earnings and worries over record high oil and a near record low dollar.
Among the big names making news in the market today were Circuit City, FedEx, Goldman Sachs, Bear Stearns, Carlyle Group, LSE, Nasdaq, OMX, and ConAgra.
The Commentary:
“The rate cut by the Fed this week was confirmation of their policy of flooding the system with cheap money. Therefore the US Dollar has continued its slide and gold is reacting to this. Gold has technically broken through major resistance levels and is attracting new investment flows. Gold is eyeing the all-time record highs from 1980’s which is around $850/ounce. Yet this is using 1980 dollars. Adjusting for inflation, gold has a ways to go to reach its inflation-adjusted highs. We would have to see gold surpass $2,000 accounting for 27 years of dollar devaluation. That is a level becoming more likely as the current situation evolves, but likely years away.
Silver continues to lag below its record highs from last year. Expect that to change shortly with $15 giving way to $18-20 silver down the road.”- Peter Spina, www.goldforecaster.com
“Frank Barbera, editor of the Gold Stock Technician newsletter, tells TSC's Simon Constable that he was mistakenly bearish on bullion and now sees gold going to $850 an ounce or higher.” View the interview with Frank here.
“The event today is not gold, but rather the dollar breaking below major-major support, below which the next support level is .7200 technically but nowhere fundamentally.
Here is how I anticipate the Gold (December Comex) story unfolding:
This move does not take out $800 without some very hard work.
- $782 - $792 is where the battle begins
- $800 will, of course, be passed in time.
- $751 to $761 is to me a given.
- $714- $715 is a place where significant buying will occur
- $682 Angel will be faded out as $612 on the illustration, but that requires a little longer above December $714-$715
The dollar rules the Gold price. The Formula rules the Dollar. Click here to review the Formula” - Jim Sinclair, JSMineset.com
“I hope many of you caught Ron Paul this morning as he posed a question to Bernanke & Paulson before the House Banking Committee. Paul's question was framed around the "moral hazard" of our banking/mortgage practices and the end result of their interest rate cuts had sent gold over $730, rewarded the bankers, but penalized and jeopardized the lower income and middle class mortgage holders. Paul even took a poke at what the Working Group on Financial Markets might be up to. Right on Dr. Paul! Here's the net effect of the much ballyhooed 1/2 point rate cut - the 10-year T-Bond yield, a benchmark for many mortgage agreements - goes up! Investors foreign & domestic are bailing out of our Treasury bonds, and the so-called mortgage resets and refis must ratchet upwards in compliance. THE HALF POINT RATE CUT WAS A BAILOUT FOR BANKERS, NOT HOMEOWNERS. Bernanke concluded his brief and meaningless reply to Paul that inflation is at a 2% rate. Absurd! However, CNBC's Rick Santelli picked up on Paul's question and commended Paul in subsequent commentary, a very refreshing revelation...for a change. (Expect Santelli to be scolded by proxy by the CFR moguls running the network).”- Charleston Voice
“December Gold finished up 10.4 at 739.9, 6.4 off the high and 3.4 up from the low.
December Silver closed up 0.365 at 13.47. This was 0.16 up from the low and 0.17 off the high.
While the gold market didn't seem to drive higher into the close a double digit gain for most of the session is still a very impressive move for the bull camp. With the Dollar under significant and historic selling pressure it isn't surprising that gold is being viewed as a safe haven investment. With the Treasury market also surprising the trade with an aggressive downside thrust on Thursday it would certainly seem like there are markets other than gold that are seeing the prospect of soaring inflation. Even more impressive is the fact that gold managed the rally in the face of a slide in equity prices. Many traders were suggesting that gold was probably seeing its spec and fund positioning rise to lofty level and it should also be noted that December gold to the spike high today was almost $96 an ounce above the August lows and to the highs Thursday it was also $30 an ounce above last Friday's close.
The silver market forged its own impressive upward thrust on the charts on Thursday and in forging the gains it has managed to rise above a series of key technical areas on the charts but prices still have made it back to the July highs. Certainly the sharp slide in the Dollar and the positive leadership from the gold market inspired the run up, but as we have mentioned in other coverage this week, the Press is rife with news items touting interest in a wide range of silver related products. In short, speculative and investment interest in silver is running strong and silver to the highs Thursday was still $1.58 cents below the 2007 highs.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Peter Brimelow: Rate cut makes bear Murphy feel more golden than ever
As inflation rages, China would freeze some prices
Antal Fekete: Barrick's executives bail out ahead of shareholders
Bank of England stripped of independence, ordered to gush cash
Treasury would let Fannie, Freddie buy, bundle, unload jumbos
Bank of England's gold not good enough for delivery
Debate rages over impact of soaring Canadian dollar
Policy reversed, Fannie and Freddie will buy junk mortgages
Paulson asks Congress to lift debt limit
Barrick CEO sees 'perfect storm' raising gold price
Saudi Arabia hints at breaking currency peg to dollar
The Statistics:
As of close of business: 9/19/2007
Gold Warehouse Stocks: | 7,077,126 | - |
Silver Warehouse Stocks: | 133,409,064 | +351,620 |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange (NYSE) AND Singapore Exchange (SGX) | Streettracks Gold Shares | 577.10 | 18,554,433 | US$ 13,452m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 90.60 | 2,912,720 | US$ 2,141m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 13.75 | 441,598 | US$ 325m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 17.72 | 569,743 | US$ 413m |
Note: Change in Total Tonnes from yesterday’s data: The NYSE/SFX added 1.53 tonnes to a new record high in total tonnes held. The LSE added 0.47 tonnes and the JSE added 0.37 tonnes.
COMEX Gold Trust (IAU)
Profile as of 9/19/2007 | |
Total Net Assets | $1,125,217,175 | Ounces of Gold
in Trust | 1,558,781.072 |
Shares Outstanding | 15,750,000 | Tonnes of Gold
in Trust | 48.48 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 9/19/2007 | |
Total Net Assets | $1,819,646,194 | Ounces of Silver
in Trust | 140,061,027.500 |
Shares Outstanding | 14,100,000 | Tonnes of Silver
in Trust | 4,356.38 |
Note: No change in Total Tonnes from yesterday’s data.
The Stocks:
Yamana’s (AUY) raised bid for Meridian (MDG), Royal Gold’s (RGLD) upcoming presentation at the Denver Gold Forum, Miramar’s (MNG) water license, Solitario’s (XPL) drill results, Banro’s (BAA) drill results, Barrick’s (ABX) debenture notice, Exeter’s (XRA) drill results, Northgate’s (NXG) project update. Randgold’s (GOLD) joint broker appointment, Silver Quest’s (SQI.V) drill program, Alexco’s (AXU) Amex listing, Silvercorp’s (SVM.TO) increased resources, and Silver Eagle’s (SEG.TO) new IR firm were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Golden Star | GSS +15.07% $4.20 |
2. Northern Orion | NTO +10.74% $6.60 |
3. DRDGOLD | DROOY+10.29% $8.68 |
LOSERS
1. Cardero | CDY -4.55% $1.26 |
2. Paramount | PZG -3.33% $2.61 |
3. Buenaventura | BVN-1.44% $47.76 |
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:
Mineral Hill Announces the Appointment of a new Chief Financial Officer - More
- September 20, 2007 | Item | E-mail
Probe Mines Retains AGORACOM to Provide Online Investor Relations and Social Network for Shareholders - More
- September 20, 2007 | Item | E-mail
Eloro Resources Retains AGORACOM to Provide Online Investor Relations and Social Network for Shareholders - More
- September 20, 2007 | Item | E-mail
Golden Band Resources update - More
- September 20, 2007 | Item | E-mail
International Kirkland Announces an Update From the Rupert River Uranium Property, Quebec - More
- September 20, 2007 | Item | E-mail
Firesteel Announces Exploration Results from Copper Creek Property - More
- September 20, 2007 | Item | E-mail
New Cantech Ventures Inc.: Lucky Ship Molybdenum Project Moving Forward Through Phase 5-Update - More
- September 20, 2007 | Item | E-mail
Royal Gold to Present at the Denver Gold Forum - "Royal Gold, Inc. (Nasdaq: RGLD - News; TSX: RGL - News), the leading publicly-traded precious metals royalty company, announced today that management will present at the Denver Gold Forum in Denver, Colorado. The Denver Gold Forum is an invitation-only conference for institutional investors, mining analysts and the executive management of the world's premier mining companies." More
- September 20, 2007 | Item | E-mail
Colombia Goldfields defines multiple large gold targets around Marmato - More
- September 20, 2007 | Item | E-mail
Brazauro Shares Sold by Talon - More
- September 20, 2007 | Item | E-mail
AURUS Exceeds Gold Production Forecasts - More
- September 20, 2007 | Item | E-mail
Miramar Announces Positive Water License Decision for Doris North - "Miramar Mining Corporation (Toronto:MAE.TO - News)(AMEX:MNG - News) is pleased to announce today that on September 20, 2007 the Nunavut Water Board ("NWB") issued a positive "decision" on the water license application for the Doris North mine. The NWB has recommended to the Minister of Indian and Northern Affairs Canada (INAC) that a 5 year Type A water license be issued to Miramar Hope Bay Limited covering the construction, operation and ultimate reclamation of the Doris North Project." More
- September 20, 2007 | Item | E-mail
Forsys Signs Environmental Contract for Valencia Uranium Project - More
- September 20, 2007 | Item | E-mail
Talon enhances treasury through sale of Brazauro shares - More
- September 20, 2007 | Item | E-mail
Millstream Cuts Massive Sulphide Intervals of 13.10% Copper, 8.02% Zinc in Drill Hole S-07-11 at Its Potter Property in North Eastern Ontario - More
- September 20, 2007 | Item | E-mail
Canarc Enters Option and Joint Venture Agreement With EXMIN Resources to Extend Land Holdings of Santiago Gold Project, Mexico - More
- September 20, 2007 | Item | E-mail
Harte Gold Corp.: Stoughton-Porcupine Property-Open Pit Potential - More
- September 20, 2007 | Item | E-mail
Mexico sees about $15 bln investment in mining - "The Mexican government said on Thursday that it sees about $15 billion in private investment in mining over the next five years." More
- September 20, 2007 | Item | E-mail
Royal Standard Minerals Inc.: Goldwedge Progress and Drilling Programs for Other Projects in Nevada - More
- September 20, 2007 | Item | E-mail
Mantis Mineral Corp. announces debt settlement - More
- September 20, 2007 | Item | E-mail
Silver Quest Plans Drill Program at Santa Rosa Silver-Lead Property, Mexico - "Silver Quest Resources Ltd. (the "Company") (TSX VENTURE:SQI - News) is pleased to report that a drill company has been contracted to undertake a program of reverse circulation ("RC") drilling on the Company's Santa Rosa property, located approximately 175 kilometres east of Hermosillo, in the state of Sonora, Mexico." More
- September 20, 2007 | Item | E-mail
American Stock Exchange Lists the Common Stock of Alexco Resource Corp. - "Alexco Resource Corp. is a precious metals exploration company with a silver focus and a growing environmental services business. The Company conducts mineral exploration in Canada, primarily in Yukon, and performs reclamation and remediation services at mine sites using its rights to certain patents and the expertise acquired by its officers." More
- September 20, 2007 | Item | E-mail
Noront Adopts Strategy to Enhance Shareholder Value - More
- September 20, 2007 | Item | E-mail
Tagish Corporate Update - More
- September 20, 2007 | Item | E-mail
Intrepid Announces Convertible Note Conversion Strengthens Balance Sheet - More
- September 20, 2007 | Item | E-mail
Vault intersects additional gold structures at Lebel - More
- September 20, 2007 | Item | E-mail
Zaruma Resources Announces New Drilling Programme - More
- September 20, 2007 | Item | E-mail
Rockcliff Resources Inc.: Drilling to Commence at the Snow Lake VMS Project - More
- September 20, 2007 | Item | E-mail
Anaconda Mining Acquires the San Gabriel Iron Ore Prospect in Chile - More
- September 20, 2007 | Item | E-mail
U Mining Resources Inc. Releases NI 43-101 Technical Report for Its Laurentide 1 and 2 Property - More
- September 20, 2007 | Item | E-mail
Silvermet Drilling Program Intersects Significant Ni-Cu-PGM Mineralization at Muskox, Nunavut - More
- September 20, 2007 | Item | E-mail
Chanaral Resources Acquires 80 Percent Interest in Potential World Class Chilean Iron Ore Property - More
- September 20, 2007 | Item | E-mail
Pure Nickel Acquires Key Exploration Ground in the Thompson Nickel Belt Through Option Agreement with Exploration Syndicate Inc. - More
- September 20, 2007 | Item | E-mail
Meridian Gold to review revised unsolicited tender offer by Yamana - "Meridian Gold Inc. ("Meridian Gold" or the "Company") (TSX: MNG - News; NYSE: MDG - News) announced today, in response to the revised unsolicited tender offer by Yamana Gold Inc. ("Yamana") to acquire all of the outstanding common shares of Meridian Gold on the basis of 2.235 Yamana common shares and Cdn $6.50 in cash for each common share of Meridian Gold, that the Company's Board of Directors will carefully review and consider the revised offer and will issue in due course a statement containing the Board's recommendation to Meridian Gold shareholders with respect to the revised Yamana offer and an update of Meridian Gold's Solicitation / Recommendation Statement on Schedule 14D-9." More
- September 20, 2007 | Item | E-mail
Mantis Mineral Corp. Announces Share Consolidation - More
- September 20, 2007 | Item | E-mail
Advanced Mineral Technologies, Inc. Releases Tillicum Mountain Diligence Report - More
- September 20, 2007 | Item | E-mail
Chariot Resources to Add New Drilling to Resource Model In Feasibility Study - More
- September 20, 2007 | Item | E-mail
Soltoro Intercepts 6 Metres of 6.08 gpt Gold & 19.5 Metres of 187 gpt Silver at El Rayo Project - More
- September 20, 2007 | Item | E-mail
Canadian Shield Exploration Update-Summer 2007 - More
- September 20, 2007 | Item | E-mail
Temoris Resources Inc.: Update on Mapimi - More
- September 20, 2007 | Item | E-mail
Spruce Ridge Drills Lead-Zinc Prospect in Western Newfoundland - More
- September 20, 2007 | Item | E-mail
Shoreham Resources Ltd.: Drill Program Launched at Ontario Moly Porphyry Prospect - More
- September 20, 2007 | Item | E-mail
Copper Canyon 16,000 Foot Drill Program Completed - More
- September 20, 2007 | Item | E-mail
International Gold Resources Engages Behre Dolbear as Technical Advisor for Brazil - More
- September 20, 2007 | Item | E-mail
Goldcrest Resources Ltd. Reports Further Positive Drilling Results from Its Gaoua Copper-Gold Project in Burkina Faso, West Africa - More
- September 20, 2007 | Item | E-mail
Western Troy Announces Partial Assay Results From Drilling at MacLeod Lake and Commencement of Scoping Study - More
- September 20, 2007 | Item | E-mail
Virginia, Canadian Royalties and Azimut Contribute $250,000 for the Rehabilitation of Abandoned Mining Sites in Northern Quebec - More
- September 20, 2007 | Item | E-mail
Mountain Lake Resumes Drilling on Its Zinc-Copper Massive Sulphide Deposit at Bobby's Pond - More
- September 20, 2007 | Item | E-mail
Geneva Resources, Inc. Confirms Main Trend and Identifies New Zone at Vilcoro Gold Property, Peru - More
- September 20, 2007 | Item | E-mail
Alexco Announces Additional Bellekeno Project Results at Keno Hill: Additional High Grade Zinc/Silver/Lead Intercepts Continue to Expand Bellekeno East Zone - More
- September 20, 2007 | Item | E-mail
Virginia, Canadian Royalties and Azimut Contribute $250,000 for the Rehabiliation of Abandoned Mining Sites in Northern Quebec - More
- September 20, 2007 | Item | E-mail
EXMIN Enters Option Agreement With Canarc Resource to Joint Venture a Portion of Its Batopilas Project, Chihuahua, Mexico - More
- September 20, 2007 | Item | E-mail
Explorator Resources Retains Micon for Initial El Espino-Venus Resource Estimate - More
- September 20, 2007 | Item | E-mail
The Company Announces Drilling Commences on the Baoming lead-zinc project and updates on the Shanchuan Project - More
- September 20, 2007 | Item | E-mail
Geocom Announces Precious and Base Metal Drill Intercepts at La Carolina Project - More
- September 20, 2007 | Item | E-mail
Unico, Inc. Announces Addition of New Photo Gallery to Corporate Website Showing Onsite Metallurgical Work at the Deer Trail Mine - More
- September 20, 2007 | Item | E-mail
Inspiration Intersects 1.115% Ni Over 11.39 m or 37.37 ft with 2.316% Ni Over 3.06 m or 10.04 ft Containing 5.765% Ni Over 0.74 m or 2.42 ft (True Width) - More
- September 20, 2007 | Item | E-mail
Romios Encounters High Grade Gold Mineralization on Its "JW" Property in the Galore Creek Area Intersects 31.87 g/t Gold Over 2.4 m in Drill Hole - More
- September 20, 2007 | Item | E-mail
European Goldfields Added to S&P/TSX Global Gold Index - More
- September 20, 2007 | Item | E-mail
Golden Phoenix Announces Appointment of Fred Quimby as Mine Manager at Ashdown Molybdenum Project - More
- September 20, 2007 | Item | E-mail
Stellar to take land position in Barry/Urban township and herit new partner in Heva property - More
- September 20, 2007 | Item | E-mail
El Nino Ventures Identifies New Copper Mineralized Zone on Properties in the Democratic Republic of Congo (DRC) - More
- September 20, 2007 | Item | E-mail
McVicar announces rapid progress in export market with key product - More
- September 20, 2007 | Item | E-mail
Centamin Egypt Limited Sukari Gold Project Upgrades Resource to 6.84 Moz Measured and Indicated, Plus 3.6 Moz Inferred - More
- September 20, 2007 | Item | E-mail
Castillian Intersects 38.8 Meters Grading 0.81% Nickel, 0.40% Copper Including 7.1 Meters Grading 1.15% Nickel, 0.62% Copper at Las Aguilas, Argentina - More
- September 20, 2007 | Item | E-mail
Vantex Signs an Agreement with an Investor Relation Firm - More
- September 20, 2007 | Item | E-mail
Silver Fields releases assay results on JE property - More
- September 20, 2007 | Item | E-mail
Drill Hole LK-180 Hits 169 Meters of Continuous Mineralization - More
- September 20, 2007 | Item | E-mail
Yamana Again Raises Bid for Meridian - "Canadian gold miner Yamana Gold Inc., rebuffed in its previous attempt to acquire Meridian Gold Inc., on Thursday sweetened the cash portion of its bid by nearly two thirds.
The Toronto-based company further boosted the chance the cash-and-stock deal would go through by requiring approval from just over half of Meridian shareholders, rather than the two-thirds needed previously. In addition, it extended the deadline for Meridian shareholders to tender their shares." More
- September 20, 2007 | Item | E-mail
Solitario Announces Significant Drilling Results on Its Pachuca Real Silver-Gold Project and Its Triunfo Polymetallic Project - "Solitario Resources Corporation ("Solitario") announces that it has intersected significant mineralization on its Pachuca Real silver-gold property in central Mexico and its Triunfo polymetallic property in Bolivia. The Pachuca Real silver-gold project is undergoing active exploration conducted by its joint venture partner, Newmont Mining Corporation ("Newmont"). The Triunfo polymetallic project is 100%-owned and operated by Solitario." More
- September 20, 2007 | Item | E-mail
Banro continues to interesect significant near surface gold mineralization at its Twangiza North discovery - "Drilling results include 41.00 metres grading 3.39 g/t Au, 23.00 metres grading 4.58 g/t Au, 20.47 metres grading 2.31 g/t Au, 17.30 metres grading 3.54 g/t Au, 13.00 metres grading 6.71 g/t Au and 11.10 metres grading 6.01 g/t Au" More
- September 20, 2007 | Item | E-mail
Pacific Bay Discovers Radioactive Boulders on New Matoush Uranium Targets, Additional Ground Geophysics Underway - More
- September 20, 2007 | Item | E-mail
JNR Announces Drilling Program Underway at Bell Lake - More
- September 20, 2007 | Item | E-mail
Notice to Holders of Placer Dome 2.75% Convertible Senior Debentures - "Barrick Gold Corporation (NYSE:ABX - News)(Toronto:ABX.TO - News) announced today that, pursuant to the terms of Placer Dome 2.75% Convertible Senior Debentures due 2023 (the "Debentures"), upon compliance with the terms and conditions of the Debentures, the Debentures may be surrendered for conversion at any time from and after October 1, 2007 until and including December 31, 2007 at a conversion rate of 39.8892 Common Shares per US$1,000.00 principal amount of Debentures." More
- September 20, 2007 | Item | E-mail
Exeter Drilling Expands High-Grade Mineralization at Cerro Moro; Escondida Zone Found to Be Continuous Over at Least 950 Metres - "Exeter Resource Corporation (CDNX:XRC.V - News)(AMEX:XRA - News)(Frankfurt:EXB.F - News) ("Exeter" or the "Company") reports that four infill drill holes on the Escondida East vein at its Cerro Moro Project in Santa Cruz Province, Argentina have expanded the high-grade gold/silver mineralization that was most recently reported on July 24, 2007." More
- September 20, 2007 | Item | E-mail
Silvercorp Metals Inc.: Measured Plus Indicated Silver Resources Increased by 30% in the New Report on the Ying Property, Henan Province, China - "Silvercorp Metals Inc. (the "Company") (Toronto:SVM.TO - News) is pleased to report the completion of an update of the mineral resources on the Ying silver-lead-zinc and HPG gold-silver-lead projects ("Ying Property") in the National Instrument ("NI") 43-101 Technical Update Report dated August 16, 2007 (the "Resource Report") prepared by BK Exploration Associates (Chris Broili, C.P. Geo. & L.P. Geo. and Mel Klohn, L.P. Geo., both independent Qualified Persons)." More
- September 20, 2007 | Item | E-mail
Silver Eagle Mines Engages CHF Investor Relations - "Silver Eagle Mines Inc. (Toronto:SEG.TO - News) is pleased to announce that it has retained CHF Investor Relations of Toronto and Calgary, one of Canada's leading IR firms for mineral resources, as investor relations advisors." More
- September 20, 2007 | Item | E-mail
Geocom Announces Precious and Base Metal Drill Intercepts at La Carolina Project - More
- September 20, 2007 | Item | E-mail
Laramide Purchases 5.6 Million Shares to Own 12% of Khan Resources Inc. - More
- September 20, 2007 | Item | E-mail
Northern Orion Announces a Reduction in the Minimum Tender Condition by Yamana for Meridian - "NORTHERN ORION RESOURCES INC. ("Northern Orion") (Toronto:NNO.TO - News)(AMEX:NTO - News) acknowledges today's announcement by Yamana Gold Inc. ("Yamana") that Yamana has amended its offer for 100% of the shares of Meridian Gold Inc. (the "Meridian Offer"). As per today's announcement, Yamana has:" More
- September 20, 2007 | Item | E-mail
Yamana Gold Increases Cash Consideration; Reduces Minimum Tender Condition; and Extends Offer for Meridian Gold - "YAMANA GOLD INC. (Toronto:YRI.TO - News)(NYSE:AUY - News)(LSE:YAU.L - News) today announced that it has reduced the minimum tender condition relating to the offer to acquire all of the outstanding common shares of Meridian Gold Inc. to 50.1 percent and extended the offer deadline to 8:00 pm (Toronto time) on October 2, 2007. Previously, the offer was contingent on 66 2/3 percent of the common shares on a fully diluted basis being deposited to the offer by 8:00 pm (Toronto time) on September 24, 2007." More
- September 20, 2007 | Item | E-mail
Northgate to Speak at Denver Gold Forum - Update on Kemess North Project - "Northgate Minerals Corporation (AMEX: NXG - News; TSX: NGX - News) confirmed today that it is meeting with federal and provincial government authorities this week to discuss the recent Panel recommendation report, dated September 17, 2007, for the Kemess North project (the "Project")." More
- September 20, 2007 | Item | E-mail
Randgold Resources Ld - Joint Broker appointed - "Randgold Resources Limited announces that it has appointed Citigroup Global Markets Limited to act as joint broker beside Arbuthnot Securities Limited." More
- September 20, 2007 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 20 September, 2007 | |
