-- Posted 21 February, 2008 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $945.50 | +$11.15 |
Silver | $17.91 | +$0.21 |
XAU | 190.56 | +0.53% |
HUI | 465.80 | -0.10% |
GDM | 1401.01 | -0.05% |
JSE Gold | 2585.22 | +144.09 |
USD | 75.59 | -0.53 |
Euro | 148.17 | +1.10 |
Yen | 93.13 | +0.68 |
Oil | $98.23 | -$1.47 |
10-Year | 3.784% | -0.133 |
T-Bond | 117.25 | +1.34375 |
Dow | 12284.30 | -1.15% |
Nasdaq | 2299.78 | -1.17% |
S&P | 1342.53 | -1.29% |
The Metals:
Gold rose to a new record high at $953.80 by about noon EST in New York before it fell back off a bit in the last hour and a half of trade, but it still ended with a gain of 1.2%. Silver rose to a new 27 year high of $18.045 before it also came back off a bit into the close, but it still ended with a gain of 1.2%.
Euro gold rose near €638, platinum rose $31 to a new record high of $2151, and copper rose over 10 cents to $3.81 to its highest level since May 2006.
Gold and silver equities rose over 2% and 3% by late morning, but they then fell back off in afternoon trade along with the major indices and ended mixed and near unchanged.
The Economy:
Report | For | Reading | Expected | Previous |
Initial Claims | 2/16 | 349K | 345K | 358K |
Leading Indicators | Jan | -0.1% | -0.1% | -0.1% |
Philadelphia Fed | Feb | -24.0 | -10.0 | -20.9 |
There are no major economic reports due out tomorrow.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil eventually fell after inventory reports showed crude inventories built a larger than expected 4.2 million barrels. Gasoline inventories built 1.1 million barrels and distillates fell 4.5 million barrels.
The U.S. dollar index fell markedly and treasuries found impressive gains as the Philadelphia Fed manufacturing survey did not rebound from last month’s surprise drop and even came in at a worse level than January’s reading.
The Dow, Nasdaq, and S&P fell over 1% on recession fears after this morning’s weak economic data.
Among the big names making news in the market today were Microsoft, J.C. Penney, Research In Motion, and MGM Mirage.
The Commentary:
“April Gold finished up 11.4 at 949.2, 7.9 off the high and 3.7 up from the low.
March Silver closed up 0.19 at 17.95. This was 0.09 up from the low and 0.09 off the high.
Gold rallied to new all time highs today but was trading well off those levels by the afternoon. Today's economic reports were disappointing, especially the Philadelphia Fed's February manufacturing survey, which came in at -24, much weaker than expected. While a sharply lower dollar and talk of further Fed rate cuts provided an impetus for gold's move to its highs, that optimism was probably undercut by a sharp downturn in crude oil prices. The crude oil market took a decidedly negative spin off of today's crude oil stock data, which came in at the bear side of expectations, and the poor economic data, which seemed to highlight a reduced demand outlook for gasoline. This may have taken some of the optimism out of the gold market as well.
Like gold, silver was carried to new contract highs today on apparent fund buying in the wake of a weaker dollar and strong inflationary indicators, particularly talk of the Fed making some more rate cuts or at least holding them down. And like gold, silver gave up a good portion of those gains later in the session, possibly because of a steep sell off in the crude oil market and disappointing economic data today, which was more recessionary than inflationary.”- The Hightower Report, Futures Analysis and Forecasting
The Statistics:
As of close of business: 2/20/2008
Gold Warehouse Stocks: | 7,621,403 | - |
Silver Warehouse Stocks: | 133,859,161 | - |
Global Gold ETF Holdings
[WGC Sponsored ETF’s]
| Product name | Total Tonnes | Total Ounces | Total Value |
New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) | StreetTRACKS Gold Shares | 631.15 | 20,292,100 | US$ 18,664m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 107.90 | 3,469,025 | US$ 3,280m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 18.56 | 596,443 | US$ 564m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 27.02 | 868,791 | US$ 802m |
Note: Change in Total Tonnes from yesterday’s data: The ASX added 0.18 tonnes.
COMEX Gold Trust (IAU)
Profile as of 2/20/2008 | |
Total Net Assets | $1,800,400,301 | Ounces of Gold
in Trust | 1,926,796.406 |
Shares Outstanding | 19,500,000 | Tonnes of Gold
in Trust | 59.93 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 2/20/2008 | |
Total Net Assets | $2,839,978,788 | Ounces of Silver
in Trust | 163,073,646.800 |
Shares Outstanding | 16,450,000 | Tonnes of Silver
in Trust | 5,072.16 |
Note: No change in Total Tonnes from yesterday’s data.
The Stocks:
Fourth quarter results from Newmont (NEM), Barrick (ABX), Goldcorp (GG), and Richmont (RIC), Exeter’s (XRA) land use, Barrick’s (ABX) acquired project interest, US Gold’s (UXG) drill results, Midway’s (MDW) drill results, Silvermex’s (SMR.V) sampling results, MAG’s (MVG) completed warrant exercise, Apex Silver’s (SIL) drilling at Almaden’s (AAU) project, Excellon’s (EXN.V) drill results, U.S. Silver’s (USA.V) safety award, ECU’s (ECU.TO) corporate update, Metalline’s (MMG) feasibility study, Fortuna’s (FVI.V) drill results, SilverCrest’s (SVL.V) progress update, Pan American’s (PAAS) fourth quarter results, and an earthquake in Nevada’s gold country were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. New Gold | NGD +16.84% $6.66 |
2. Taseko | TGB +13.67% $4.74 |
3. Ivanhoe | IVN+11.69% $11.56 |
LOSERS
1. Silver Standard | SSRI -6.74% $33.33 |
2. ITH | THM -5.97% $1.99 |
3. Coeur d’Alene | CDE -5.25% $4.69 |
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:
Silvermex Resources Ltd.: Grades of 137.8 g/t Silver and 17.85% Zinc Over 1.55 Meters Returned From Preliminary Surface Sampling at Lety Project in Durango - "The Lety property covers 5,130 hectares in the Northern portion of the state of Durango and is located near the historical mining districts of Magistral del Oro, Santa Maria del Oro and Guanacevi, in the Sierra Madre Occidental of Mexico. The Lety Project is 17 km north of the Pitarilla deposit of Silver Standard Resources Inc. on which a resource estimate in excess of 600 million ounces of silver has been reported." More
- February 21, 2008 | Item | E-mail
MAG Silver Announces Completion of Warrant Exercise - "MAG Silver Corp. (Toronto:MAG.TO - News)(AMEX:MVG - News) ("MAG") announces that 1,380,000 warrants have been exercised at a price of $10.00 per warrant for gross proceeds of $CDN 13,800,000. The warrants exercised represent 100% of those available for exercise and were issued in connection with a private placement that closed in February 2007 and were due to expire on February 14, 2008." More
- February 21, 2008 | Item | E-mail
High costs, labor shortages hampering mining -Teck - "Base metals mining projects could continue to face delays or cancellation from higher costs and a lack of available personnel, Teck Cominco's (TCKb.TO: Quote, Profile, Research) chief executive said on Thursday." More
- February 21, 2008 | Item | E-mail
Katanga Receives Summary Findings of DRC Mining Contract Review - More
- February 21, 2008 | Item | E-mail
As South American rivers dry up, miners tap ocean - "Vast mines in Peru and Chile that supply the world with crucial metals have started to pump water from the Pacific Ocean high into the Andes Mountains because of chronic water shortages exacerbated by climate change." More
- February 21, 2008 | Item | E-mail
Atlas takes over Bolivia lead-silver smelter - More
- February 21, 2008 | Item | E-mail
Strong 6.0 quake shakes Nevada's gold country - "A strong 6.0 magnitude earthquake struck northeastern Nevada at dawn on Thursday, damaging buildings, rupturing water lines and knocking down power lines, officials reported." More
- February 21, 2008 | Item | E-mail
Louvem Mines Reports its Fourth Quarter and Year End Results for 2007 - More
- February 21, 2008 | Item | E-mail
Opawica Explorations Inc. ("Opawica"/ the "Company") Announces Atikwa Lake, Ontario Results and Update - More
- February 21, 2008 | Item | E-mail
Ireland Inc. Completes Acquisition of Columbus Project - More
- February 21, 2008 | Item | E-mail
Apex Silver Commences Drilling at Almaden's Viky Project, Mexico - "Almaden Minerals Ltd. (Toronto:AMM.TO - News)(AMEX:AAU - News) ("Almaden", "the Company") is pleased to announce that Apex Silver Mines Ltd. ("Apex Silver") has commenced a diamond drilling program on Almaden's wholly owned Viky silver lead zinc project located in western Coahuila State, Mexico." More
- February 21, 2008 | Item | E-mail
Pure Nickel Options Tower Property to Rockcliff Resources Inc. - More
- February 21, 2008 | Item | E-mail
Case Financial Enters Joint Venture to Explore and Develop Uranium Blocks in Wyoming - More
- February 21, 2008 | Item | E-mail
Abcourt: $439,250 Private Placement Completed - More
- February 21, 2008 | Item | E-mail
Trevali Intersects High Grade Zinc-Lead-Silver Mineralization at Santander Project, Peru - More
- February 21, 2008 | Item | E-mail
Exeter Unaffected by Santa Cruz Governor's Land Use Plan - "Exeter Resource Corporation (CDNX:XRC.V - News)(AMEX:XRA - News)(Frankfurt:EXB.F - News) ("Exeter" or the "Company") is pleased with recent comments attributed to the Governor of Santa Cruz Province about a proposed land use policy that confirms the place for mining investment in the Province while protecting the environmentally sensitive regions of the Andean Cordillera (mountains) along the Province's western border." More
- February 21, 2008 | Item | E-mail
Luna Gold secures grinding mills for the Aurizona Gold Project - More
- February 21, 2008 | Item | E-mail
Nuinsco Resources Limited: Development in Ore Set to Begin At Corner Bay Copper Project - More
- February 21, 2008 | Item | E-mail
Roxmark reports on exercise of warrants - More
- February 21, 2008 | Item | E-mail
Uranium Hunter Commences Helicopter Aerial Survey on Tanzania Ruhuhu Uranium Project - More
- February 21, 2008 | Item | E-mail
Radisson Mining's Massicotte Project to Undergo Airborne Survey - More
- February 21, 2008 | Item | E-mail
Wallbridge Cuts 3.85 g/t Gold and 1410 g/t Silver Across 1.2 Metres on Demorest Property - More
- February 21, 2008 | Item | E-mail
Acadian Mining intersects 9.50 metres of 5.41% zinc plus lead at its Getty property, Nova Scotia - More
- February 21, 2008 | Item | E-mail
Pershimco Names Exploration Manager, Mexico - More
- February 21, 2008 | Item | E-mail
Cameco Investor Audiocast Advisory - More
- February 21, 2008 | Item | E-mail
Agbaou gold project delivers over 1 million ounces of indicated resource for Etruscan in Cote d'Ivoire - More
- February 21, 2008 | Item | E-mail
Timmins Gold Corp.: Drilling Intersects 5.88 g/t Gold and 29.9 g/t Silver Across 24.3 Meters at Tequila Gold Project, Jalisco, Mexico - More
- February 21, 2008 | Item | E-mail
Excellon Discovers 4.7 Metres of New Massive Sulphides in NE-1 Manto and Adds to Rodilla - "Excellon Resources Inc. (CDNX:EXN.V - News) has intersected important new massive sulphide manto mineralization in holes LP444 and LP447 (see table and map below) in the NE-1 area, 100 metres (m) east of the Rodilla Manto. LP447 intersected an estimated true thickness of 4.72 m of sphalerite and galena-rich massive sulphides." More
- February 21, 2008 | Item | E-mail
Gold miner Newmont reports fourth-quarter loss - "Newmont Mining Corp (NEM.N: Quote, Profile, Research), the world's No. 2 gold producer, on Thursday reported a fourth-quarter loss, partly due to a write-down on exploration and a sharp drop in gold sales from its Nevada operations.
But excluding items, the results were roughly in line with Wall Street expectations.
The results came as Canadian rival Barrick Gold Corp (ABX.TO: Quote, Profile, Research), the world's No. 1 producer, reported a 28-percent rise in fourth-quarter profit on soaring gold prices.
And Canada's No. 2 gold producer, Goldcorp Inc (G.TO: Quote, Profile, Research) (GG.N: Quote, Profile, Research) nearly quadrupled its fourth-quarter profit, as prices and increased production more than offset rising costs." More
- February 21, 2008 | Item | E-mail
Uranium One stock battered after lower forecast - More
- February 21, 2008 | Item | E-mail
Century Mining Receives Updated Lamaque Underground Permit - More
- February 21, 2008 | Item | E-mail
TSX Venture Exchange approves Tanzanian Property acquisition - More
- February 21, 2008 | Item | E-mail
Fortuna drills 7.95 meters with 9.37 g/t Au and 487 g/t Ag at San Jose, Mexico - More
- February 21, 2008 | Item | E-mail
Wescan Goldfields - Alto Ventures joint venture continues to intersect gold on the Mud Lake Project, Beardmore-Geraldton gold belt - More
- February 21, 2008 | Item | E-mail
Southern Hemisphere Mining Limited: Commissions Independent Expert to Report on Projects of Merit in Chile - More
- February 21, 2008 | Item | E-mail
Campbell Resources set to begin development in ore at Corner Bay - More
- February 21, 2008 | Item | E-mail
Marathon Intersects High Grade Polymetallic Mineralization at Ore Fault: 6.8 m of 2.03% Cu, 4.01% Zn, 200 g/t Ag and 0.58 g/t PGM and Au - More
- February 21, 2008 | Item | E-mail
Paragon Minerals and Sprott Resource Corp. Begin Drilling on the JBP-Appleton Linear Project - More
- February 21, 2008 | Item | E-mail
Talon Metals Acquires New Gold Project in Brazil - More
- February 21, 2008 | Item | E-mail
MacDonald Mines Intersects 112 Meters Assaying 0.18% Nickel on James Bay Lowlands Area Property - More
- February 21, 2008 | Item | E-mail
International PBX Ventures Ltd. Discovers Large 3D IP Anomaly on the Tierra de Oro Gold Project - More
- February 21, 2008 | Item | E-mail
U.S. Silver Announces Receipt of the Sentinels of Safety Award for the Galena Mill from the U.S. Department of Labor - "U.S. Silver Corporation (CDNX:USA.V - News) ("U.S. Silver" or the "Company") is pleased to announce that the U.S. Department of Labor's Mine Safety and Health Administration, as part of the Sentinels of Safety Program, has awarded a Certificate of Achievement in Safety to U.S. Silver's Galena Mill. The Certificate of Achievement in Safety Award was presented to U.S. Silver for its outstanding safety record in 2006 when employees worked 18,277 employee hours without a lost workday injury. Additionally, the mill crew recently completed the year 2007 without a single lost workday injury." More
- February 21, 2008 | Item | E-mail
Asia Now Expands the Porphyry Copper System to 2.3 by 1.3 Kilometres With High Grade Mineralization Zones at Habo - More
- February 21, 2008 | Item | E-mail
Maximus and NFX Confirm the Extension of the Fernland Mineralization at Larder Lake , Ontario - More
- February 21, 2008 | Item | E-mail
Happy Creek Minerals: Drilling Confirms New Large-Scale Tungsten-Moly System on Fox Property - More
- February 21, 2008 | Item | E-mail
Constitution Mining Completes Phase 1 Exploration at Atena Gold Project - More
- February 21, 2008 | Item | E-mail
Hinterland continues to hit platinum & palladium at Ebay Property, Quebec - More
- February 21, 2008 | Item | E-mail
Wave Uranium Adds Two Members to Advisory Board - More
- February 21, 2008 | Item | E-mail
Champion Bear receives encouraging assay results from Eagle Rock - More
- February 21, 2008 | Item | E-mail
Aldridge Minerals Reports Acquisition of Uranium Asset and Progress on the Development of a Prototype Field Analytical Tool - More
- February 21, 2008 | Item | E-mail
Manicouagan Advances Mouchalagane Nickel-Copper-PGE Project and Other Mid-North Quebec Projects - More
- February 21, 2008 | Item | E-mail
Powertech Appoints Wallace M. Mays, Chief Operating Officer - More
- February 21, 2008 | Item | E-mail
Alexis Announces Production Decision at Lac Herbin Deposit, Val d'Or, Quebec - More
- February 21, 2008 | Item | E-mail
General Metals Drilling Intersects 155 Feet of Near Surface Oxide Mineralization at Wilson Independence Mine With Holes Bottoming in Mineralization - More
- February 21, 2008 | Item | E-mail
Canplats Resources Corporation: Diamond Drilling Commences at Camino Rojo; Two Additional Holes Extend Gold-Silver-Lead-Zinc Mineralization - More
- February 21, 2008 | Item | E-mail
Aquila Continues to Expand Copper and Zinc-Rich Pinwheel Massive Sulfides - More
- February 21, 2008 | Item | E-mail
Timberline Announces First Quarter Financial Results - More
- February 21, 2008 | Item | E-mail
DPM Exploration Confirms Scope and Grade of Major Molybdenum Mineralization in Serbia - More
- February 21, 2008 | Item | E-mail
El Nino Ventures Update on Democratic Republic of Congo Projects - More
- February 21, 2008 | Item | E-mail
Zincore Announces Annual General Meeting - More
- February 21, 2008 | Item | E-mail
Mexoro Minerals Expands Board Of Directors - More
- February 21, 2008 | Item | E-mail
Mirabela obtains additional project approvals - More
- February 21, 2008 | Item | E-mail
Update: Work on Globex Properties - More
- February 21, 2008 | Item | E-mail
Pacific Comox Reports 2.8% Copper & 0.22% Molybdenum Over 3 Meters Within a 71 Meter Interval of 0.17% or 3.4 lbs/ton Molybdenum Starting 1 Meter From Surface - More
- February 21, 2008 | Item | E-mail
Universal Uranium Ltd. and Silver Spruce Resources Inc.: Update on 2007 Exploration-CMBNW Property - More
- February 21, 2008 | Item | E-mail
Crosshair Announces General Manager of Lonestar Division - More
- February 21, 2008 | Item | E-mail
Mega and Forum Commence Drilling at Maurice Point Uranium Project, Athabasca Basin, Saskatchewan - More
- February 21, 2008 | Item | E-mail
Forum and Mega Commence Drilling at Maurice Point Uranium Project, Athabasca Basin, Saskatchewan - More
- February 21, 2008 | Item | E-mail
Strateco Exercises Its Right to Option 60% of Majescor's Uranium Rights on the Mistassini Property, Otish Mountains, Quebec - More
- February 21, 2008 | Item | E-mail
Uranium One Announces New Senior Management Appointments, Revised Production Guidance and Updated Resource Estimate at Dominion - More
- February 21, 2008 | Item | E-mail
Kuriskova Infill Drilling Returns More High Grade Uranium - More
- February 21, 2008 | Item | E-mail
Silver Spruce Resources Inc. and Universal Uranium Ltd.: Update on 2007 Exploration-CMBNW Property - More
- February 21, 2008 | Item | E-mail
Bayswater Commences Drilling on Its Wisker Valley Uranium/Gold Project, Baie Verte Peninsula, Newfoundland - More
- February 21, 2008 | Item | E-mail
Blue Sky 2008 Argentina Exploration Program Underway - More
- February 21, 2008 | Item | E-mail
Areva to start Finnish uranium exploration in 2008 - More
- February 21, 2008 | Item | E-mail
ECU Provides Corporate Update - "The stock market for junior companies in the mining sector has recently been quite challenging despite the ongoing strength of commodity prices. While we believe the market will be robust for the juniors over the longer term, we are planning to take advantage of the current strength in commodity prices and will resume mining operations and milling at the Santa Juana mine beginning this quarter." More
- February 21, 2008 | Item | E-mail
Metalline Clarifies Feasibility Process. - "Metalline Mining Company (Amex: MMG - News) is aware that there is some confusion in the marketplace about the progress on our feasibility study. The process for performing the study is described in some detail in our recent 10-KSB filings and investors are urged to read the information provided in those documents." More
- February 21, 2008 | Item | E-mail
Barrick Acquires Additional 40% Interest in Cortez Property in Nevada; Cortez Expected to Become a Million-Ounce, Low-Cost Producer - "Barrick Gold Corporation (Toronto:ABX.TO - News)(NYSE:ABX - News) announced today that it has entered into a definitive purchase and sale agreement with Kennecott Explorations (Australia) Ltd., a subsidiary of Rio Tinto plc ("Rio Tinto") to purchase its 40% interest in the Cortez Joint Venture in Nevada. The total cash consideration is $1.695 billion and the transaction is expected to be completed in Q1 2008, subject to customary closing conditions." More
- February 21, 2008 | Item | E-mail
US Gold: Mexico Delivering Positive Results Magistral Mine Exploration-0.541 opt Gold Over 40 ft. Within 0.144 opt Gold Over 165 ft. - "US GOLD CORPORATION (Toronto:UXG.TO - News)(AMEX:UXG - News)(Frankfurt:US8.F - News) is pleased to announce results from several projects within Sinaloa State, Mexico. Drilling at the Magistral Mine has intersected significant gold mineralization. The first drill result from the La Prieta vein returned 0.541 opt (ounces per ton) gold over 40 feet (ft.) (18.53 gpt (grams per tonne) gold over 12.2 meters) within a longer interval of 0.144 opt gold over 165 ft. (4.93 gpt gold over 50.3 meters)." More
- February 21, 2008 | Item | E-mail
Richmont Mines Reports Revenue Grows 16% and Net Income Doubles in 2007 - "Revenues for the fourth quarter of 2007 are $10.3 million, a 39% increase compared with $7.4 million in the fourth quarter of 2006. In the 2007 fourth quarter, 10,949 ounces of gold were sold at an average price of US$724 per ounce compared with 9,102 ounces of gold sold in the same period the prior year at an average price of US$613 per ounce." More
- February 21, 2008 | Item | E-mail
Goldcorp Reports Record Net Earnings in Fourth Quarter - "GOLDCORP INC. (Toronto:G.TO - News)(NYSE:GG - News) today reported record net earnings of $256.5 million, or $0.36 per share, for the quarter ended December 31, 2007 and $460.1 million or $0.65 per share, for the year. Production in 2007 increased 35% to 2,292,600 gold ounces at a total cash cost of $163 per ounce." More
- February 21, 2008 | Item | E-mail
Barrick's Q4 Earnings Increase 28% to $0.62 per Share; Grows Reserves and Resources, Delivers on Operating Guidance - "Q4 net income was $537 million ($0.62 per share), 28% higher than a year ago, and operating cash flow rose 104% to $676 million ($0.78 per share) on gold production of 2.14 million ounces at total cash costs of $375 per ounce(1). The average realized price on gold sales was $799 per ounce compared to the average spot price of $786 per ounce." More
- February 21, 2008 | Item | E-mail
Fortuna Intersects 18.2 Meters With 4.9 g/t Au and 503 g/t Ag at San Jose, Mexico - "Fortuna Silver Mines Inc. (TSX VENTURE:FVI - News) is pleased to announce additional drill results from the 2007 drill program at the San Jose silver-gold deposit located in Oaxaca, Mexico. The San Jose Project is being explored and developed under a joint venture between Fortuna (76%) and Continuum Resources Ltd. (24%)." More
- February 21, 2008 | Item | E-mail
SilverCrest Updates Progress at the Santa Elena Project, Mexico-Preliminary Feasibility Study Nearing Completion - "SilverCrest Mines Inc. (the "Company") (TSX VENTURE:SVL - News) is pleased to announce that all phases of work on the Company's Preliminary Feasibility Study at the Santa Elena Project are near completion. The Santa Elena Project is located approximately 150 kilometres northeast of Hermosillo, Sonora, Mexico and is easily accessible with excellent local infrastructure. The Company has the right to acquire a 100% interest in the Santa Elena property." More
- February 21, 2008 | Item | E-mail
Newmont Reports Fourth Quarter and 2007 Financial and Operating Results - "Newmont Mining Corporation (NYSE: NEM - News) today announced fourth quarter and 2007 financial and operating results. For the quarter and year ended December 31, the Company reported a net loss from continuing operations of $933 million (-$2.06 per share) and $963 million (-$2.13 per share), respectively, in 2007, compared with net income from continuing operations of $171 million ($0.38 per share) and $563 million ($1.25 per share), respectively, in 2006." More
- February 21, 2008 | Item | E-mail
Midway Drills Shallow Gold at Afgan, Nevada - "Midway Gold Corp. (CDNX:MDW.V - News)(AMEX:MDW - News) is pleased to announce new shallow gold intercepts in drilling on its Afgan property northwest of Eureka, Nevada. The results from the 2007 drill program intersected 85 feet of 0.039 opt gold (ounce per ton) in AF07-05 and 60 feet of 0.023 opt gold in AF07-02. A new gold zone with 25 feet of 0.016 opt gold in BC07-04 was intercepted on the Big Cyndi target two miles to the north." More
- February 21, 2008 | Item | E-mail
Pan American Silver Reports Record Earnings, Cash Flow and Production for 2007 - "By all measures, 2007 was by far Pan American's best year ever," said Geoff Burns, President and CEO. "We achieved new records for silver production, metal sales, operating cash flows, and net earnings, while at the same time solidly progressing our development projects. Our growing production, forecast at 19.5 million ounces in 2008, combined with robust silver prices makes our prospects for future years even brighter." More
- February 21, 2008 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 21 February, 2008 | |
