-- Posted 15 November, 2007 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $785.70 | -$26.70 |
Silver | $14.42 | -$0.57 |
XAU | 169.99 | -4.75% |
HUI | 405.16 | -4.36% |
GDM | 1259.42 | -4.30% |
JSE Gold | 2532.06 | -3.19% |
USD | 76.04 | +0.21 |
Euro | 146.16 | -0.53 |
Yen | 90.35 | +0.77 |
Oil | $93.43 | -$0.66 |
10-Year | 4.159% | -0.110 |
T-Bond | 115.40625 | +1.000 |
Dow | 13110.05 | -0.91% |
Nasdaq | 2618.51 | -0.98% |
S&P | 1451.15 | -1.32% |
The Metals:
Gold rose to find about $5 gains around $817 in early trade in Asia, but it then steadily fell off throughout trade in London and New York and dropped to as low as $782.35 by early afternoon before it bounced back higher into the close and ended with a notable loss of 3.29%. Silver followed a similar pattern and plunged to as low as $14.30 before it also rebounded slightly in the last hour of trade, but it still ended with a loss of 3.80%.
Euro gold fell to about €538, platinum lost $12 to $1428, palladium gained $1 to $370, and copper fell nearly 20 cents to about $3.11 as mines came back online after yesterday’s brief interruption due to an earthquake in Northern Chile.
Gold and silver equities steadily fell throughout most of trade and ended with over 4% losses.
The Economy:
Report | For | Reading | Expected | Previous |
CPI | Oct | 0.3% | 0.3% | 0.3% |
Core CPI | Oct | 0.2% | 0.2% | 0.2% |
Initial Claims | 11/10 | 339K | 325K | 319K |
NY Empire State Index | Nov | 27.4 | 18.0 | 28.8 |
Philadelphia Fed | Nov | 8.2 | 5.0 | 6.8 |
Tomorrow at 9AM EST brings Net Foreign Purchases for September expected at $66.0 billion and at 9:15 is Industrial Production for October expected at 0.1% and Capacity Utilization expected at 82.0%.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil fell over $2 at one point as inventory reports came in better than expected, but it did come back by the close and end less than a dollar lower as concerns over heating oil were raised heading into winter. Draws were expected across the board, but crude inventories surprisingly built 2.8 million barrels, gasoline inventories built 700,000 barrels, distillates fell 2 million barrels, natural gas stocks fell 9 billion cubic feet, and refinery utilization rose 1.5% to 87.7%.
The U.S. dollar index climbed back above 76 by the close while treasuries rose as risk aversion and carry trade unwinding prompted investors to ditch higher yielding currencies and assets for the perceived safety of lower yielding U.S. related assets.
The Dow, Nasdaq, and S&P fell about 1% by the close on worries over poor consumer spending during the upcoming holiday season as high energy prices and a tight credit market finally appear to be taking their toll on the American public.
Among the big names making news in the market today were MBIA, Ambac, Barclays, Tyco, J.C. Penny, Merrill Lynch, Ralcorp and Kraft Foods, and Delphi and GM.
The Commentary:
“December Gold finished down 27.4 at 787.3, 16.2 off the high and 3.3 up from the low.
December Silver closed down 0.583 at 14.482. This was 0.132 up from the low and 0.368 off the high.
Clearly gold was feeling the weight of another broad based physical commodity market liquidation wave during the action on Thursday. However, seeing the Dollar manage a fresh upside breakout on the charts certainly turned up the currency related liquidation pressure, which in turn was accentuated by a fresh round of economic slowing fears. In addition to evidence of US slowing, the gold market also saw evidence of slowing in the UK and Canadian economies. In short, a number of bearish themes seemed to be operating and the overt weakness in the US equity market throughout the trading session simply seemed to accentuate another shift away from inflation and back toward deflation.
It was no surprise that the silver market fell in sync with gold on Thursday and considering the long list of quasi deflationary developments the bull camp might have been lucky to have avoided even steeper losses. As in the gold market a host of physical commodity markets were under pressure in the wake of the revived economic concerns and perhaps most importantly an upside breakout in the US Dollar. Seeing the copper market down by a very aggressive 22 cents had to undermine a portion of the bull camp in silver and with the equity market very weak in the afternoon action, it was clear that nearly all the markets were accepting the renewed threat of slowing.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
Feds raid Liberty Dollar and seize and freeze everything
Rogers mocks Bernanke's indifference to dollar's fall
Ron Paul collecting fans and campaign money
Gold bugs riding wave of rising prices
Ailing GE 'enhanced' cash fund breaks the buck
Seeing little inflation, Bank of England ready to cut rates
Dollar to remain China's main reserve, central banker says
The Statistics:
As of close of business: 11/15/2007
Gold Warehouse Stocks: | 7,362,127 | +14,624 |
Silver Warehouse Stocks: | 132,884,347 | -646,291 |
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 | 588.74 | 18,928,555 | US$ 15,396m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 97.85 | 3,146,110 | US$ 2,479m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 15.62 | 501,926 | US$ 396m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 18.94 | 608,909 | US$ 495m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU)
Profile as of 11/14/2007 | |
Total Net Assets | $1,415,031,233 | Ounces of Gold
in Trust | 1,740,769.772 |
Shares Outstanding | 17,600,000 | Tonnes of Gold
in Trust | 54.14 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 11/14/2007 | |
Total Net Assets | $2,176,352,857 | Ounces of Silver
in Trust | 145,408,391.000 |
Shares Outstanding | 14,650,000 | Tonnes of Silver
in Trust | 4,522.71 |
Note: No change in Total Tonnes from yesterday’s data.
The Stocks:
Rubicon’s (RBY) increased drill programs, ITH’s (THM) drill results, Gold Fields’ (GFI) reopened mine shaft and delay and increase in costs for another project, Allied Nevada’s (ANV) drill results, IAMGOLD’s (IAG) agreement with the Government of Ecuador, Apollo Gold’s (AGT) option to purchase the Smuggler Mines, Freeport’s (FCX) back to normal mine operations after an earthquake yesterday, Barrick’s (ABX) plans to continue to hedge, Ivanhoe’s (IVN) third quarter results, Mines Management’s (MGN) third quarter results, Bear Creek’s (BCM.V) metallurgical testing update, Abcourt’s (ABI.V) drill results, Minefinders’ (MFN) third quarter results, Endeavour’s (EXK) third quarter results, Aquiline’s (AQI.TO) increased resource estimate, and SilverCrest’s (SVL.V) resource increase were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Paramount | PZG +1.90% $2.14 |
2. Rubicon | RBY +0.62% $1.63 |
3. Gold Reserve | GRZ+0.42% $4.82 |
LOSERS
1. Endeavour | EXK -7.02% $4.37 |
2. DRDGOLD | DROOY-6.90% $8.50 |
3. Lihir Gold | LIHR -6.80% $34.14 |
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:
Delta Uranium Appoints John Cottrell to the Board of Directors - More
- November 15, 2007 | Item | E-mail
PBX Files NI43-101 Molybdenum-Copper Resource at Copaquire - More
- November 15, 2007 | Item | E-mail
Mines Management Announces Third Quarter Earnings and Montanore Project Update - "The Company reported a net loss for the quarter ended September 30, 2007 of $1.7 million, or $0.09 per share, compared to a net loss of $1.4 million, or $0.11 per share, for the quarter ended September 30, 2006." More
- November 15, 2007 | Item | E-mail
Rubicon Announces Major Increase to Red Lake Drill Programs - "Following the closing of its recently announced $10 million flow through financing, Rubicon Minerals Corporation (AMEX:RBY - News)(TSX:RMX - News), is pleased to announce a major increase in its planned drill programs in Red Lake, focused on the following 100%-controlled projects:" More
- November 15, 2007 | Item | E-mail
27 g/t Gold and 1.47% U3O8 Reported From Ucore's Sandybeach Lake Property - More
- November 15, 2007 | Item | E-mail
Raytec Closes Financing With the MineralFields Group - More
- November 15, 2007 | Item | E-mail
Campbell Resources announces a $ 2.5 million financing - More
- November 15, 2007 | Item | E-mail
Ivanhoe's loss widens as Oyu Tolgoi costs climb - "Ivanhoe Mines (IVN.TO: Quote, Profile, Research) (IVN.N: Quote, Profile, Research), which is partnered with Rio Tinto (RIO.AX: Quote, Profile, Research) (RIO.L: Quote, Profile, Research) in developing a huge copper project in the Gobi Desert, said on Thursday that its wider third-quarter loss was primarily due to higher costs associated with the Mongolian deposit." More
- November 15, 2007 | Item | E-mail
Allied Energy Corporation To Visit Zambia based Tin (Sn) Concession - More
- November 15, 2007 | Item | E-mail
Ontex Resources Drilling Campaign Aimed to Enhance Open Pit Potential of 629,900 Oz Brookbank Gold Deposit - More
- November 15, 2007 | Item | E-mail
Skyline Announces Engagement of Investor Relations Firm - More
- November 15, 2007 | Item | E-mail
Hana Mining Confirms Significant Copper-Silver Mineralization at Ghanzi, Botswana - More
- November 15, 2007 | Item | E-mail
ITH Discovers Gold Endowed Vein System at Painted Hills Project in Nevada - "All four holes encountered robust, high-level alteration and quartz veining containing anomalous gold and very anomalous geochemical indicators of a fertile system. The large gold endowed system bears many of the earmarks of distal areas around similar age, major multimillion ounce gold deposits in northern Nevada such as the Sleeper and Midas Deposits." More
- November 15, 2007 | Item | E-mail
IMA Outlines Merger and Acquisition Objectives - More
- November 15, 2007 | Item | E-mail
Uranium One says working to resolve acid shortfall - More
- November 15, 2007 | Item | E-mail
Coronation Stakes New Ground With Assays Returning 3.88% Copper, 1.9 g/t Gold, and 8.5 g/t Silver - More
- November 15, 2007 | Item | E-mail
Hemisphere Gold Provides Shareholder Update on Corporate Affairs - More
- November 15, 2007 | Item | E-mail
Dynacor Gold Mines Inc. reports net earnings in its third quarter 2007 - More
- November 15, 2007 | Item | E-mail
Gee-Ten Provides Clarification of Company Affairs and Resumes Trading - More
- November 15, 2007 | Item | E-mail
Asia Now Plans Private Placement - More
- November 15, 2007 | Item | E-mail
Lincoln Announces Approval of Continuation - More
- November 15, 2007 | Item | E-mail
Birim Approves Warrant Extension - More
- November 15, 2007 | Item | E-mail
TTM Completes $8,682,750 Private Placement - More
- November 15, 2007 | Item | E-mail
Probe Mines Announces Appointment of Dr. John B. Gammon to the Board of Directors - More
- November 15, 2007 | Item | E-mail
CCM Research Issues Update Report on Alexandria Minerals Corporation - More
- November 15, 2007 | Item | E-mail
Geovic Mining Corp. Graduates to Toronto Stock Exchange - More
- November 15, 2007 | Item | E-mail
Norsemont Mining Announces Closing of C$18M Underwritten Financing - More
- November 15, 2007 | Item | E-mail
Network to commence Phase I Exploration at Pistala - More
- November 15, 2007 | Item | E-mail
Freewest Updates Exploration Activities on Its McFaulds Property, Northern Ontario - More
- November 15, 2007 | Item | E-mail
Matamec: Discovery of Kimberlite Boulders on L'Esperance Property - More
- November 15, 2007 | Item | E-mail
Canadian Royalties Announces Financial Results Quarter Ended September 30, 2007 - More
- November 15, 2007 | Item | E-mail
/C O R R E C T I O N from Source -- Mantis Mineral Corp/ - More
- November 15, 2007 | Item | E-mail
Malaga inc. reports net earnings in its third quarter 2007 - More
- November 15, 2007 | Item | E-mail
Murgor retains Golder Associates for preliminary feasibility studies on the Hudvam and Wim deposits in the Flin Flon Belt, Manitoba. - More
- November 15, 2007 | Item | E-mail
Pure Nickel Partners with Crowflight to Explore Past Producing Manibridge Mine - More
- November 15, 2007 | Item | E-mail
Crowflight Partners With Pure Nickel to Explore Past Producing Manibridge Mine - More
- November 15, 2007 | Item | E-mail
Osisko Closes C$125 Million Financing - More
- November 15, 2007 | Item | E-mail
SearchGold Provides Drilling Update on Bakoudou, Gabon - More
- November 15, 2007 | Item | E-mail
Mesa Uranium Begins Drilling Moonshine Springs Uranium Project in Arizona - More
- November 15, 2007 | Item | E-mail
Puma Exploration Inc.: Conclusive Metallurgical Test on the Hache Lens, New Brunswick - More
- November 15, 2007 | Item | E-mail
Atomic Minerals Ltd. - Drilling commences on 1st transect of Dolores Anticline, Colorado - More
- November 15, 2007 | Item | E-mail
Ruby Red Resources announces preliminary drilling results of fall drilling program - More
- November 15, 2007 | Item | E-mail
Rusoro Drills 37m of 9.34 g/t Au at Increible 6, All Main Gold Zones Expanded - More
- November 15, 2007 | Item | E-mail
Raven Gold Corp.-John C. Bunch Accepts the Position as Director for the Company - More
- November 15, 2007 | Item | E-mail
Crosshair Drills Confirm Continuity of Uranium Mineralization at Area 1, 1500m Down Strike of C Zone - More
- November 15, 2007 | Item | E-mail
Unico, Inc. Announces Additional Progress of Reconstruction Work and Equipment Testing at the Mill and Processing Facility at the Deer Trail Mine - More
- November 15, 2007 | Item | E-mail
African Gold Group, Inc. Announces Joint Venture With Randgold Resources Ltd to Explore Its Bagoe Assets in Mali - More
- November 15, 2007 | Item | E-mail
Consolidated Abaddon Resources Inc.: Triex Begins Drilling at Mann Lake Uranium Project, Athabasca, Saskatchewan - More
- November 15, 2007 | Item | E-mail
Uranium Energy Corp Expands its Technical Team and Advisory Board With Industry Veterans - More
- November 15, 2007 | Item | E-mail
Clifton Star Resources Inc.: Progress Report on Drilling Program at Duquesne Mine Property - More
- November 15, 2007 | Item | E-mail
Amerigo Operations Unaffected by Earthquake - More
- November 15, 2007 | Item | E-mail
Caledonia Mining Announces its Third Quarter 2007 Results - More
- November 15, 2007 | Item | E-mail
Arianne Resumes Exploration Works on the Opinaca/Lac H property, James Bay - More
- November 15, 2007 | Item | E-mail
Adriana Announces $30 Million Private Placement - More
- November 15, 2007 | Item | E-mail
First Nickel Appoints John Eby as Director - More
- November 15, 2007 | Item | E-mail
Canadian Arrow Purchases Head Frame and Hoisting Equipment - More
- November 15, 2007 | Item | E-mail
Hemisphere Gold Appoints Riaz Sumar as Chief Financial Officer - More
- November 15, 2007 | Item | E-mail
Argentex to commence largest-ever drill program at Pinguino, Santa Cruz, Argentina - More
- November 15, 2007 | Item | E-mail
Acrex Continues Diamond Drilling At Spanish Mtn Gold Property, Likely, BC - More
- November 15, 2007 | Item | E-mail
Paragon Minerals and Sprott Resource Corp. Sign JV Option Agreement on JBP-Appleton Linear Gold Project - More
- November 15, 2007 | Item | E-mail
Midlands Minerals: Drilling Extends Esaase Zone 400 Meters North and 200 meters South With Both Ends Remaining Open-Ended - More
- November 15, 2007 | Item | E-mail
Open letter to Mantis Mineral Corp. Shareholders - More
- November 15, 2007 | Item | E-mail
Dia Bras: High Gold and Silver Values at Cusi - More
- November 15, 2007 | Item | E-mail
Romarco Identifies 8 Zones - Up to 50 g/t Au and 160 g/t Ag at Pinos Gold District, Zacatecas Mexico - More
- November 15, 2007 | Item | E-mail
Geocom Announces Filing of Annual Report on Form 10-KSB - More
- November 15, 2007 | Item | E-mail
Hemis Announces Additional El Tigre Drill Results - More
- November 15, 2007 | Item | E-mail
Mercator Reports Third Quarter Results - More
- November 15, 2007 | Item | E-mail
Uruguay Mineral Exploration Inc.:STOCK OPTIONS GRANTED - More
- November 15, 2007 | Item | E-mail
First-Phase Drilling Program Identifies Large Gold-Bearing System at Redstar Gold's Painted Hills Project in Nevada - More
- November 15, 2007 | Item | E-mail
Crescent Resources Reports Drilling Results From Oviedo Uranium Project Paraguay - More
- November 15, 2007 | Item | E-mail
Skygold Ventures Intersects 84.50 Metres of 1.12 g/t Gold at Spanish Mountain - More
- November 15, 2007 | Item | E-mail
Kobex Appoints Chief Financial Officer - More
- November 15, 2007 | Item | E-mail
Abacus Announces Updated Schedule for Development of its Afton Cu-Au Properties - More
- November 15, 2007 | Item | E-mail
Mirabela announces discovery of new mineralized zone southeast of Santa Rita - More
- November 15, 2007 | Item | E-mail
Alexis to Advance Underground Exploration Towards a Production Decision at Lac Pelletier Gold Project, Rouyn-Noranda, Quebec - More
- November 15, 2007 | Item | E-mail
Gold Fields says re-opens shut Beatrix shaft - "Gold Fields Ltd (GFIJ.J: Quote, Profile, Research) said on Thursday it had re-opened a shaft it closed down on Tuesday night following a deadly fight amongst workers at its Beatrix mine in South Africa." More
- November 15, 2007 | Item | E-mail
Allied Nevada Updates Hycroft Project Drill Results for Additional 6 Drill Holes - "Allied Nevada Gold Corp. ("Allied Nevada" or the "Company") (Toronto:ANV.TO - News)(AMEX:ANV - News) is pleased to announce complete gold and silver assay results for six exploration drill holes drilled at the Company's Hycroft Heap Leach Mine ("Hycroft") located near Winnemucca, Nevada." More
- November 15, 2007 | Item | E-mail
Bear Creek's Corani Silver deposit; positive metallurgical process recoveries established; elements in place to complete scoping study in Q1 2008 - "Bear Creek Mining (TSX Venture: BCM - News; "Bear Creek" or the "Company") is pleased to provide a metallurgical testing update on its Corani Silver-Lead-Zinc deposit in Peru. Testing has now advanced to the point where the production of marketable concentrates has been demonstrated. Recoveries of silver, lead and zinc are as per Bear Creek's previous guidance of 80% silver and 60% lead and zinc." More
- November 15, 2007 | Item | E-mail
Keegan Drills 68 Meters of 2.25 g/t Gold in Step-Out 500m South of Resource Zone at Esaase Gold Project - More
- November 15, 2007 | Item | E-mail
Sierra Reports Third Quarter Financial Results - More
- November 15, 2007 | Item | E-mail
Precedent for Nirek Gold Bullion Bar Warrant Application on Frankfurt Exchange - More
- November 15, 2007 | Item | E-mail
Alhambra Resources Ltd. - Encouraging Preliminary Aygabak Exploration Results - More
- November 15, 2007 | Item | E-mail
Consolidated Abaddon Resources Inc.: Triex Begins Drilling at Mann Lake Uranium Project, Athabasca, Saskatchewan - More
- November 15, 2007 | Item | E-mail
Mitsui eyes uranium mines in Australia, Africa, N.America - More
- November 15, 2007 | Item | E-mail
Amera Options Loma Colorada Porphyry Copper-Gold Property, Peru - More
- November 15, 2007 | Item | E-mail
Golden Arrow Commences Drilling on Poncha Gold-Copper Project, San Juan, Argentina - More
- November 15, 2007 | Item | E-mail
Gold Fields delays Peru mine, costs jump by 23 pct - "South Africa's Gold Fields Ltd (GFIJ.J: Quote, Profile, Research) has delayed the launch of its Cerro Corona gold and copper project in Peru by four months and boosted capital costs by 23 percent due to problems with contractors and a tailings facility, the firm said on Thursday." More
- November 15, 2007 | Item | E-mail
Abcourt Mines Inc.: Good Silver Values at Jonpol - "Drill holes JP07-01 to JP07-11 are all located near surface on the western extension of a mineralized structure with historical resources of 18,000 tonnes grading 4.00 % zinc and 274 grams of silver per tonne. This zone is present in a trench on line 8+00W and it assayed 1.06 % zinc and 248 grams of silver per tonne over a width of five meters. One hole drilled at a depth of 200 meters in 1991 failed to intersect any mineralization that could be correlated with this zone." More
- November 15, 2007 | Item | E-mail
IAMGOLD Reaches Agreement on Environmental Protection in Ecuador - "IAMGOLD Corporation ("IAMGOLD" or "the Company")(Toronto:IMG.TO - News)(NYSE:IAG - News)(BOTSWANA: IAMGOLD) announces that it has reached an agreement with the Government of Ecuador in which the Government recognizes that IAMGOLD has adhered to and met all of its legal, social and environmental obligations thus far at the Company's Quimsacocha project in Ecuador and will therefore get full support from the Government for the project going forward." More
- November 15, 2007 | Item | E-mail
U.S. Energy Corp. Announces Third Quarter Earnings - "U.S. Energy Corp. (Nasdaq: USEG - News) today announced that it has released its financial results for the third quarter of 2007 and the Company has scheduled a conference call and webcast for investors and analysts for 12:00 PM (Eastern Time) on Monday, November 19, 2007." More
- November 15, 2007 | Item | E-mail
Gold Fields Announces a Delay and an Increase in Capital Cost for the Cerro Corona Project in Peru - "The construction costs has now been revised to US$421 million, which includes an additional contingency of US$20 million, and the treatment of ore is now scheduled to commence towards the middle of the June quarter 2008." More
- November 15, 2007 | Item | E-mail
Apollo Gold Announces Option to Purchase the Smuggler Mines in Gilpin County, Colorado - "Apollo Gold Corporation (“Apollo” or the “Company”) (TSX: APG - News) (AMEX: AGT - News) is pleased to announce that the Company has extended an existing option agreement to purchase the Smuggler Mine property (“Smuggler Mine”) in Gilpin County, Colorado. The Smuggler Mine has not been in production since the 1940’s and is located six miles north of Central City, Colorado." More
- November 15, 2007 | Item | E-mail
Freeport says Chile El Abra mine operations normal - "Freeport-McMoran Copper & Gold Inc. (FCX.N: Quote, Profile, Research) said Thursday its majority-owned El Abra copper mine was back to normal operations after a quake a day earlier knocked out its power supplies." More
- November 15, 2007 | Item | E-mail
Minefinders Provides Dolores Construction Update and Reports Third Quarter Results - "The Company reported a net loss for the third quarter of 2007 of US$12.97 million (US$0.27 per share) compared with a net loss of US$0.9 million (US$0.02 per share) for the same period in 2006. Net losses for the first nine months of 2007 totaled US$13.85 million (US$0.29 per share) compared with US$5.4 million (US$0.12 per share) in the first nine months of 2006." More
- November 15, 2007 | Item | E-mail
Endeavour Reports Record Silver Production and Sales Revenues in Third Quarter, 2007; Cash Costs Remained High in Q3 but Starting to Fall; - "Endeavour Silver Corp. (Toronto:EDR.TO - News)(AMEX:EXK - News)(DBFrankfurt:EJD) today reported record quarterly silver production and sales revenues for the 3rd Quarter, 2007. Sales rose 174% to US$7.69 million and production climbed 74% to 577,384 oz silver from the Company's two mines in Mexico compared to the 3rd Quarter, 2006." More
- November 15, 2007 | Item | E-mail
Aquiline Resources Inc.: Navidad Measured and Indicated Mineral Resource Up 52% to 453 Million Oz Silver-Conference Call Scheduled Thursday, Nov. 15 - "The Current Resource Estimate comprises 453 million ounces of silver and 3 billion pounds of lead in the Measured and Indicated categories plus 153 million ounces of silver and 546 million pounds of lead in the Inferred category (see table below). John Chulick, Vice President of Exploration commented "This confirms Navidad as one of the largest undeveloped silver resources in the world". A Technical Report detailing the update will be filed on SEDAR and published on the Aquiline website within the next two weeks." More
- November 15, 2007 | Item | E-mail
SilverCrest Announces Resource Increase: Indicated Resources at 57.5 Million Ounces, Inferred Resources at 29.9 Million Ounces Silver & Silver Equivalent - "SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL - News) is pleased to announce the results of an updated silver and gold resource estimation for the Santa Elena project and a new silver resource estimate for its Cruz de Mayo project. Both projects are located in Sonora, Mexico and are easily accessible from Hermosillo, Mexico. The following is a summary of SilverCrest's NI 43-101 compliant silver and gold resources." More
- November 15, 2007 | Item | E-mail
Gold Fields shaft shut, union clash death toll up - "A shaft that produces some 500 ounces of gold at Gold Fields' Beatrix mine in South Africa remained shut on Thursday, after it was closed when miners were killed during a clash." More
- November 15, 2007 | Item | E-mail
Barrick in favour of hedging for project finance - "Barrick Gold Corp (ABX.TO: Quote, Profile, Research), the world's largest gold producer, said on Thursday it would continue to hedge a part of its bullion output to protect its investment in longer term projects." More
- November 15, 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 15 November, 2007 | |
