-- Posted 3 March, 2008 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $981.25 | +$9.40 |
Silver | $20.05 | +$0.29 |
XAU | 202.98 | +3.26% |
HUI | 501.65 | +3.21% |
GDM | 1510.64 | +3.12% |
JSE Gold | 2625.83 | +107.63 |
USD | 73.68 | -0.02 |
Euro | 151.84 | -0.04 |
Yen | 96.77 | +0.59 |
Oil | $102.45 | +$0.61 |
10-Year | 3.534% | UNCH |
T-Bond | 119.671875 | -0.015625 |
Dow | 12258.90 | -0.06% |
Nasdaq | 2258.60 | -0.57% |
S&P | 1331.34 | +0.05% |
The Metals:
Gold climbed to as high as $989.55 by about 10AM EST in New York before it fell back off into the close, but it still ended with a gain of 0.97% at a new record high. Silver climbed to as high as $20.608 before it also pared its gains in the last few hours of trade, but it still ended with a gain of 1.5% at a new 27 year high.
Euro gold rose to over €646, platinum gained $70.50 to $2228.50 to a new record high, and copper gained roughly 8 cents to about $3.93.
Gold and silver equities gained over 3.5% to new record intraday highs about an hour into trade before they cut into their gains a bit in late morning trade, but they still remained about 2.5% higher for the rest of the day and made new record closing highs with over 3% gains.
The Economy:
Report | For | Reading | Expected | Previous |
Construction Spending | Jan | -1.7% | -0.8% | -1.3% |
ISM Index | Feb | 48.3 | 48.0 | 50.7 |
There are no major economic reports due out tomorrow.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose to a new record high of $103.95 on news that the US committed a strike against terror targets in Somalia and on speculation that OPEC may cut production. It later cut into its gains on news that Nigeria would resume oil shipments, but it still ended with a decent gain and just 14 cents from its record closing high set last Thursday.
The U.S. dollar index fell to a 3-year low versus the yen and a new record low versus the euro on worries over more subprime related losses to be reported in the near future.
Treasuries fell after it became clear that the fed would not announce an emergency rate cut today as was rumored early in the session.
The Dow, Nasdaq, and S&P traded mostly lower and ended mixed and near unchanged on mixed economic data and worries over further writedowns to be announced this week.
Among the big names making news in the market today were Ford, United Technologies, Berkshire, MBIA, Ambac, and Bunge.
The Commentary:
“April Gold finished up 9.2 at 984.2, 7.8 off the high and 2.6 up from the low.
May Silver closed up 0.265 at 20.18. This was 0.01 up from the low and 0.52 off the high.
The gold market showed pretty volatile action on Monday, but it was clear that the bull camp was consistently in control of the action. Certainly the flight to quality argument was dominating trade sentiment with US financial market concerns front and center and seemingly disconcerting news from the inflation front. In fact, another new round of new all time highs in oil prices and very sharp gains in grain prices seemed to accentuate the inflation concerns, while more evidence of slowing in the US economy probably added to the interest in safe haven investments. As if the US financial travails weren't enough fodder for the bull camp in the gold market, the trade was also somewhat concerned about escalating geopolitical concerns as a result of Iranian sanctions talk. The geopolitical lift wasn't restricted to Iranian developments as the energy complex seemed to be concerned about a possible disruption of energy supply flow because of a flap that could eventually involve Ecuador, Colombia and Venezuela. With the platinum contract managing an $87 an ounce bounce off its early lows one could suggest that gold saw some additional speculative spillover buying from the platinum market.
The silver market managed another impressive pulse up on Monday as it mostly followed in the footsteps of the gold market. Certainly the silver market was also lifted by another sharp rise in energy prices and because of the weakness in the US Dollar. However, clearly the silver market was also benefiting from a series of flight to quality arguments stemming from both inflation and financial uncertainty. Apparently the sharp rise in silver futures prices is also being seen in silver mining shares and that would suggest that the buying interest is still fairly diversified and perhaps broad in scope. As mentioned in the mid day comments strength in copper prices seemed to add to the interest in the silver market despite some initial weakness in platinum prices. However, with the platinum market managing an explosive rally off its early lows into its close, it is likely that silver saw some spillover buying from that outside market.”- The Hightower Report, Futures Analysis and Forecasting
GATA Posts:
ECB chief prods U.S. about 'strong dollar' and Paulson duly squeaks up
Ambrose Evans-Pritchard: Fed's rescue attempt has failed
Gold beats other financial assets as investors seek haven
Peter Brimelow: Gold finishes a fabulous February
Gold upstream, poison downstream in Philippines' wild mining zone
As dollar falls, Israelis see virtues of their own currency
Dan Norcini: Looks like a commercial signal failure in silver
Dollar decline seen dominating markets in week ahead
'Strong dollar' Paulson would get rid of the penny
Toronto Globe and Mail highlights 'the new global gold rush'
IMF says any gold sales will only substitute for unsold central bank quotas
Fed officials say they'll act against inflation eventually
Commodity boom backfires on consumers
James Turk: Follow the trend
The Statistics:
As of close of business: 2/29/2008
Gold Warehouse Stocks: | 7,371,272 | -791 |
Silver Warehouse Stocks: | 135,036,924 | +96,531 |
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 | 639.44 | 20,558,637 | US$ 19,967m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 107.88 | 3,468,602 | US$ 3,412m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 19.02 | 610,869 | US$ 601m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 27.02 | 868,695 | US$ 843m |
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU)
Profile as of 2/29/2008 | |
Total Net Assets | $1,872,475,282 | 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 2/29/2008 | |
Total Net Assets | $3,383,080,530 | Ounces of Silver
in Trust | 172,488,301.200 |
Shares Outstanding | 17,400,000 | Tonnes of Silver
in Trust | 5,364.99 |
Note: No change in Total Tonnes from yesterday’s data.
The Stocks:
Nevsun’s (NSU) project update, Gammon Gold’s (GRS) drill results, Gold Fields’ (GFI) one million fatality-free shifts, Newmont’s (NEM) arbitration with Indonesia, Buenaventura’s (BVN) resumed operations, Agnico-Eagle’s (AEM) investment in Forum Uranium Corp., Golden Tag’s (GOG.V) and ECU’s (ECU.TO) drill results, SNS Silver’s (SNS.V) drilling, Endeavour’s (EXK) updated NI 43-101 reserve and resource estimates, Mines Management’s (MGN) operating permit, Excellon’s (EXN.TO) updated Mineral Resource estimate, and Arian Silver’s (AGQ.V) initial resource estimate were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Kimber | KBX +14.61% $1.02 |
2. Harmony | HMY+8.90% $13.22 |
3. Minefinders | MFN+8.07% $12.46 |
LOSERS
1. Entree | EGI -10.2% $2.29 |
2. Vista | VGZ-7.00% $5.05 |
3. Orezone | OZN-5.71% $1.65 |
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:
Metco's Acquisition by Breakwater is Approved by Both Boards of Directors - More
- March 03, 2008 | Item | E-mail
Pan African Mining Corp. Identifies Seven New Nickel Laterite Targets in Madagascar - More
- March 03, 2008 | Item | E-mail
Gold Canyon Starts Winter Drill Program 2008 at Springpole - More
- March 03, 2008 | Item | E-mail
Zazu Metals Hires Matthew Ford as Vice President, Corporate Development - More
- March 03, 2008 | Item | E-mail
Oriel Resources Plc: Approach Received - More
- March 03, 2008 | Item | E-mail
Redcorp Ventures Ltd.: Receipt of Mines Act Permit and Licence to Cut Amendment-Tulsequah Chief Mine - More
- March 03, 2008 | Item | E-mail
VMS discovers 2.25% Copper, 3.17% Zinc and 1.39 g/t Gold over 51.98m (170.54 ft), including 8.49% Copper, 5.07% Zn and 4.91 g/t Gold over 4.57m (14.99 ft) - More
- March 03, 2008 | Item | E-mail
Genesis Uranium Corp. Set to Study Wollaston East Property Results - More
- March 03, 2008 | Item | E-mail
Eaglecrest Drills 9.65 Metres of 7.9 Grams Per Tonne Gold - More
- March 03, 2008 | Item | E-mail
Canarc to Hold Annual and Special Shareholders Meeting on April 29, 2008 - More
- March 03, 2008 | Item | E-mail
Wescan Goldfields Inc. - Exploration update Wescan-Santoy joint venture, Athabasca Basin, SK - More
- March 03, 2008 | Item | E-mail
Silver Eagle Intercepts Massive Sulphides at Depth - More
- March 03, 2008 | Item | E-mail
Titan Uranium Inc.: Exploration Update on Athabasca Projects and Corporate Update - More
- March 03, 2008 | Item | E-mail
Nevsun Resources Ltd.: BISHA Update-SAG & Ball Mills Ordered - "The longest lead delivery items and hence the "critical path" limitation for the development of the Bisha Mine are the grinding mills. BMSC has selected the supplier of the semi-autogenous (SAG) and ball mills for the project following a competitive bidding process and an order has been placed for both the SAG and ball mills with Polysius AG, a division of ThyssenKrupp Engineering. The selected SAG mill is 6.1m diameter by 3.0m with a 2000 kW drive and the ball mill is 5.5m diameter by 8.3m with a 4500 kW drive." More
- March 03, 2008 | Item | E-mail
SL Resources Inc. Reports on 2008 Field Program - More
- March 03, 2008 | Item | E-mail
New Island Reports on Advisory Board Appointments - More
- March 03, 2008 | Item | E-mail
Breakwater Provides Initial Exploration Results on Mina Profunda Gold-Zinc Project, Toqui Mine, Chile - More
- March 03, 2008 | Item | E-mail
Goldcorp Declares Third Monthly Dividend Payment for 2008 - "GOLDCORP INC. (Toronto:G.TO - News)(NYSE:GG - News) is pleased to declare its third monthly dividend payment for 2008 of $0.015 per share. Shareholders of record at the close of business on Thursday, March 13, 2008 will be entitled to receive payment of this dividend on Tuesday, March 25, 2008. Goldcorp has paid a monthly dividend to its shareholders since 2003." More
- March 03, 2008 | Item | E-mail
Golden Hope Acquires Property with High Grade Historical Results: Adding to Existing Serpentinite Targets in Quebec - More
- March 03, 2008 | Item | E-mail
Premier-Roxmark intersect 254.8 g/t (7.44 oz/ton) and 60.88 g/t (1.78 oz/ton) in new zone discovered proximal to Little Long Lac Gold Mine - More
- March 03, 2008 | Item | E-mail
New Airborne Coverage Initiated for Kingurutik Lake Ni-Co-Co Project in Labrador - More
- March 03, 2008 | Item | E-mail
Inspiration Intersects 1.220% Ni Over 6.25m or 20.51 Ft Containing 2.384%Ni Over 2.26m or 7.41 Ft and 1.460% Ni Over 4.93m - More
- March 03, 2008 | Item | E-mail
Wallbridge Mining Acquires Large BC Copper Property - More
- March 03, 2008 | Item | E-mail
SearchGold Provides Update on Zone A Feasibility Study on Bakoudou in Gabon - More
- March 03, 2008 | Item | E-mail
Victory Nickel Drilling Returns 1.51% Ni Over 38.42 Metres Beneath Minago Resource - More
- March 03, 2008 | Item | E-mail
Sherwood Signs Exploration Memorandum of Understanding With Firestone Ventures Inc. - More
- March 03, 2008 | Item | E-mail
High River Gold Project Update and 2008 Guidance - More
- March 03, 2008 | Item | E-mail
Potential Extensions of Barry Mineralized Zones Up to 4km - More
- March 03, 2008 | Item | E-mail
Nilam Resources Arranges U.S. $1.5 Million Financing at $1.90 Per Share - More
- March 03, 2008 | Item | E-mail
Dia Bras Increases Significantly its Resources Base at its Bolivar Cu-Zn Project - More
- March 03, 2008 | Item | E-mail
Southampton Announces a Property Update on Its Winter Drill Program on the Horden Lake Cu-Ni-PGE Project, North of Matagami, Quebec - More
- March 03, 2008 | Item | E-mail
Firstgold Closes First Tranche of Previously Announced Financing - More
- March 03, 2008 | Item | E-mail
Mawson drills 0.44% U(3)O(8) over 12.1 metres at Klappibacken, Sweden - More
- March 03, 2008 | Item | E-mail
DPM Confirms Discussions Underway With Bulgarian Government - More
- March 03, 2008 | Item | E-mail
Copper Mountain Mining Corporation - Drilling indicates a new high grade zone of mineralization at Copper Mountain - More
- March 03, 2008 | Item | E-mail
Beeston Completes Exploration Programs on Ruth Lake Property, 100 Mile House, BC - More
- March 03, 2008 | Item | E-mail
Acero-Martin Commences 2008 Drilling Program at Pinaya Gold-Copper Project in Peru - More
- March 03, 2008 | Item | E-mail
Intrepid and Aura Silver Announce Results of First Phase Drilling Program at Taviche Project, Mexico - More
- March 03, 2008 | Item | E-mail
Geneva Resources, Inc. Advances Payment Towards Next-Stage on Vilcoro Gold Property, Peru - More
- March 03, 2008 | Item | E-mail
Etruscan pours first gold at Youga Mine in Burkina Faso - More
- March 03, 2008 | Item | E-mail
Bonanza Silver in MB Silver Property Drill Results - More
- March 03, 2008 | Item | E-mail
Capital Gold and Standard Bank Agree to Refinance Project Loan for El Chanate - More
- March 03, 2008 | Item | E-mail
Champion Minerals Retains the International Engineering Company BBA Inc. for Scoping Studies on the Attikamagen Lake Iron Property - More
- March 03, 2008 | Item | E-mail
Mengold Initiates Joint Venture with X-Ore at Greenwater Lake-Shebandowan - More
- March 03, 2008 | Item | E-mail
Southern Peru Copper to Start Drilling Canadian Shield's Cerro Cori Property - More
- March 03, 2008 | Item | E-mail
Inter-Citic Reports Gold Mineralization Found in 25 of 27 New Drill Holes. Results Include 12.0 Metres Averaging 7.39 GPT Contained Gold - More
- March 03, 2008 | Item | E-mail
Extensive Gold, Copper & Zinc Geochem Anomalies Identified on the Center Zone at Mengold's Goldcreek Property - More
- March 03, 2008 | Item | E-mail
Rockcliff Hits VMS High Grade at the Rail Property 5.11m Grading 4.31% Copper, 2.68% Zinc and 0.61g/t Gold - More
- March 03, 2008 | Item | E-mail
Cadiscor Announce Closing of a $3.0 Million Private Placement Financing - More
- March 03, 2008 | Item | E-mail
Everton and GlobeStar Drill New Mineralized Zone at Cuance, Dominican Republic - More
- March 03, 2008 | Item | E-mail
Yukon-Nevada Gold Corp. reports a significant increase in reserves at Jerritt Canyon - More
- March 03, 2008 | Item | E-mail
Ventura Reports Third Quarter Financial Results - More
- March 03, 2008 | Item | E-mail
HudBay Updates Drill Results for Lalor Lake - More
- March 03, 2008 | Item | E-mail
General Metals Signs Purchase Agreement to Acquire 100% Interest in Bannockburn Gold Property, Madoc Township, South East Ontario, Canada - More
- March 03, 2008 | Item | E-mail
Canplats Resources Corporation: Camino Rojo Drilling Continues to Intersect Broad Zones of Gold-Silver-Lead-Zinc Mineralization - More
- March 03, 2008 | Item | E-mail
Abacus Continues Expansion of Primary Afton Target at Ajax - More
- March 03, 2008 | Item | E-mail
Atna Resources Ltd. - Underground Drifting Commences at Pinson Mine, Nevada - More
- March 03, 2008 | Item | E-mail
Mustang Minerals Corp.: Drill Update at Maskwa North and Maskwa West - More
- March 03, 2008 | Item | E-mail
Mexivada discovers five new gold zones at Mayoko, Republic of Congo - More
- March 03, 2008 | Item | E-mail
Malaga discovers new tungsten mineralized vein structures at Pasto Bueno - More
- March 03, 2008 | Item | E-mail
Fortune Minerals announces management appointments - More
- March 03, 2008 | Item | E-mail
Grande Portage Resources Ltd. Announces High-Grade Gold, Silver, Lead Zinc Assays from the Pass Property - More
- March 03, 2008 | Item | E-mail
Goldmember Minerals Inc. announces start of drilling at Alexis Gold Property - More
- March 03, 2008 | Item | E-mail
Zincore Increases Inferred Resources at Yanque by 55% - More
- March 03, 2008 | Item | E-mail
Amarillo's Posse Deposit Estimated at 643,000 Ounces Indicated, 538,000 Inferred; Preliminary Economic Assessment Shows Robust Economics at Current Gold Prices - More
- March 03, 2008 | Item | E-mail
Knight Reports Remaining Results From West Raglan; Expanded 2008 Program Planned - More
- March 03, 2008 | Item | E-mail
Donner Metals Ltd.: New High Grade Intersections Expand Zones at Bracemac and McLeod - More
- March 03, 2008 | Item | E-mail
Colorado Goldfields Inc. Announces CFO and Additional Staff Appointments - More
- March 03, 2008 | Item | E-mail
Amera Resources Corporation: Additional High-Grade Copper Results on Mitu Project; Geophysics Program Begins to Refine Drill Targets - More
- March 03, 2008 | Item | E-mail
Finlay Minerals Ltd. - 700 meter long Atlas East zone yields 2 meter intersection of 7.24g/t gold and 141.1g/t silver - More
- March 03, 2008 | Item | E-mail
Globex and Queenston Report a High Grade NI 43-101 Resource at the Ironwood Deposit - More
- March 03, 2008 | Item | E-mail
TTM Resources Inc. receives NI 43-101 report on Chu Molybdeum Project - More
- March 03, 2008 | Item | E-mail
Temex provides exploration update - More
- March 03, 2008 | Item | E-mail
Tribute Minerals Inc.: Exploration Update - More
- March 03, 2008 | Item | E-mail
Wescan Goldfields Inc. - Jojay Project: High grade gold intersected 22.95 grams per tonne over 1.70 metres - More
- March 03, 2008 | Item | E-mail
UNOR Closes Unit Financing With Cameco - More
- March 03, 2008 | Item | E-mail
Sparton Receives Patent for the Extraction and Recovery of Uranium from Coal Ash in China - More
- March 03, 2008 | Item | E-mail
Superior Benefits From Partner's Agreement on North Thelon Uranium Project, Nunavut - More
- March 03, 2008 | Item | E-mail
Forum Completes $3 Million Financing With Agnico-Eagle and Options Agnico Uranium Property Adjacent to Kiggavik, Nunavut - More
- March 03, 2008 | Item | E-mail
Grease River Project displays extensive high-grade uranium mineralization at surface in basement rocks - More
- March 03, 2008 | Item | E-mail
Cash Minerals Announces 2008 Uranium Exploration Program at Aillik Property, Central Mineral Belt, Labrador - More
- March 03, 2008 | Item | E-mail
Golden Tag Resources Ltd. and ECU Silver Mining Inc.: Discovery of a New Polymetallic Skarn Environment at San Diego, Mexico - "Golden Tag Resources Ltd. (TSX VENTURE:GOG - News; "Golden Tag") and ECU Silver Mining Inc. (TSX:ECU - News; "ECU") are pleased to report additional diamond drill hole results from its exploration program initiated in October 2007 on the San Diego property, Durango State, Mexico. Final results from two additional holes, SD-07-20 and SD-07-22, drilled on the eastern flank of the central Dioritic Intrusion, continue to expand mineralization associated with the Montanez Vein and confirm the presence of extensive new zone s of Green Skarn hosting Silver-Lead-Zinc mineralization." More
- March 03, 2008 | Item | E-mail
SNS Silver Corp. Completes 11,285 feet of Drilling at Ellis Shaft - "SNS Silver Corporation ("SNS" or the "Company") (TSX VENTURE:SNS - News) is pleased to announce completion of 11,285 feet of drilling at its first underground drill station in the historic Crescent Mine. Drilling commenced January 3rd of 2008 at the Ellis Shaft drill station located in the footwall of the Alhambra Fault." More
- March 03, 2008 | Item | E-mail
Gammon Gold Announces Exploration Drilling Results at Guadalupe y Calvo Gold-Silver Project - "The 2007/8 exploration diamond drilling initiative on this highly prospective project during the fourth quarter 2007 is a 15-hole (2,400 meter) exploration drilling program. Upon the completion of this drilling program, expected to be in Q2, the Company will complete a scoping study in order to determine the next steps in this advanced exploration property." More
- March 03, 2008 | Item | E-mail
Endeavour Announces NI 43-101 Reserve/Resource Update: Proven/Probable Reserves Rise 50% to 14.9 Million Oz Silver - "Endeavour Silver Corp. (EDR: TSX, EXK: AMEX, and EJD: Frankfurt) released today updated, NI 43-101 reserve and resource estimates to December 31, 2007 for its three active silver mining and exploration projects in Mexico, the Guanacevi Mines in Durango State, the Guanajuato Mines (previously called Bolanitos) in Guanajuato State, and the Parral Exploration project in Chihuahua State." More
- March 03, 2008 | Item | E-mail
Gold Fields Beatrix and Driefontein Mines Achieve a Million Fatality-Free Shifts - "Gold Fields Limited ("Gold Fields") (NYSE: GFI - News; JSE:GFI)(DIFX: GFI) is pleased to report that two of its operations - Driefontein Gold Mine on the West Rand and Beatrix Gold Mine in the Free State - have both achieved one million fatality-free shifts." More
- March 03, 2008 | Item | E-mail
Newmont and Government of Indonesia File for International Arbitration in Relation to Divestiture Process Under Contract of Work - "We are confident that we are in compliance with the Contract of Work and have invoked its dispute resolution mechanism to ensure our rights are protected," said Richard O'Brien, President and Chief Executive Officer of Newmont. "We have worked diligently and in good faith to complete the sale of PTNNT's shares to Indonesian participants in accordance with the requirements of the Contract of Work, and will continue to do so even though arbitration notices have been filed. We remain committed to resolving this issue in a fair and transparent manner in accordance with the Contract of Work." More
- March 03, 2008 | Item | E-mail
Buenaventura Resumes Operations at Four Operating Units - "Compania de Minas Buenaventura S.A.A. ("the Company" or "Buenaventura") (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru's largest publicly-traded precious metals mining company, announced that operations at its four operating units -- Orcopampa, Uchucchacua, Antapite and Caraveli -- resumed March 1, 2008 at midnight, after the conclusion of a 72 hour strike, which began on February 27, 2008." More
- March 03, 2008 | Item | E-mail
State of Montana Confirms Montanore Project's 1993 Operating Permit - "Mines Management, Inc. (AMEX:MGN - News) (TSX:MGT - News) (the Company) is pleased to announce that its wholly owned subsidiary, Montanore Minerals Corporation (MMC), has received notification from the State of Montana Department of Environmental Quality (DEQ) that it has confirmed Hard Rock Operating Permit 150 for the Montanore Project as an active permit. This permit was originally approved and issued in, and remained in force since, 1993." More
- March 03, 2008 | Item | E-mail
Excellon More Than Doubles Platosa Mineral Resource to 417,000 Tonnes of High-Grade - "The updated Mineral Resource estimate indicates a 126% increase in the Indicated Mineral Resource category to a total of 417,000 tonnes grading 1,060 g/t silver (31 oz/T), 9.31% lead, and 9.79% zinc, up from 184,500 tonnes grading 1,546 g/t silver, 10.86% lead, and 10.50% zinc (at May 9, 2006). The Inferred Mineral Resource has also increased nine-fold from 8,200 to 73,000 tonnes at a slightly higher grade than that of 2006." More
- March 03, 2008 | Item | E-mail
Arian Silver Corporation: Initial NI 43-101 Resource Calculation at San Jose - "This initial resource estimate of 27.7 million ounces (oz) of silver, 64.6 million pounds (lbs) of lead and 147.5 million lbs of zinc, in the inferred mineral resource category, is from 31 holes drilled to an aggregate length of 4,500 metres (m) and is contained within four currently defined resource blocks along 4 km of the strike of the San Jose Vein (SJV)." More
- March 03, 2008 | Item | E-mail
Agnico-Eagle Mines Limited reports investment in Forum Uranium Corp. and concurrent option agreement - "Agnico-Eagle Mines Limited ("Agnico" or the "Company") today reported that it had acquired 6,122,449 units ("Units") of Forum Uranium Corp. ("Forum") by way of a private placement at a price of $0.49 per Unit for a total consideration of $3,000,000 in cash. Each Unit consisted of one common share ("Common Shares"), resulting in the acquisition of a total of 6,122,449 Common Shares of Forum by the Company, and one-half of one share purchase warrant ("Warrants"), each full Warrant entitling the Offeror to acquire one Common Share at a price of $0.66 per share for a period of two years." More
- March 03, 2008 | Item | E-mail
Newmont Indonesia mulls IPO to meet divestment rule - "U.S. mining group Newmont Mining Corp. (NEM.N: Quote, Profile, Research) is considering an initial public offering (IPO) as an option for its Indonesian unit to meet its divestiture requirements, Newmont's chief financial officer said on Sunday." More
- March 03, 2008 | Item | E-mail
Cardero Closes Private Placement Financings - "Cardero Resource Corp. ("Cardero" or the "Company") - (Toronto:CDU.TO - News)(AMEX:CDY - News)(Frankfurt:CR5.F - News) is pleased to announce that on February 29, 2008 the private placement financings, as announced on February 5, 2008 and as revised on February 25, 2008, were completed." More
- March 03, 2008 | Item | E-mail
Indonesia Wants to End Newmont Contract - "Indonesia threatened to terminate the operating contract of Newmont Mining Corp. after the U.S. gold-producing giant failed to meet a Monday deadline to divest a 10 percent stake in one of its subsidiaries." More
- March 03, 2008 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 3 March, 2008 | |
