Gold Seeker Closing Report: Gold and Silver Fall Over 1.5% and 3.5%

	Close	Gain/Loss
Gold	$916.70	-$14.45
Silver	$17.20	-$0.67
XAU	176.75	-1.95%
HUI	438.42	-2.39%
GDM	1320.29	-2.40%
JSE Gold	2516.63	-34.58
USD	71.75	+0.14
Euro	157.91	+0.17
Yen	100.25	-0.34
Oil	$101.58	-$4.04
10-Year	3.432%	-0.034
T-Bond	118.796875	+0.265625
Dow	12262.89	+0.38%
Nasdaq	2279.10	+0.79%
S&P	1322.70	+0.57%

Gold rose about 1% at as high as $940.75 by early trade in New York, but it then steadily sold off for the rest of the session and ended at about its low of the session with a loss of 1.55%. Silver saw nearly 30 cent gains at as high as $18.165 by early trade in New York, but it also sold off for most of the rest of trade and dropped to as low as $17.022 before it rebounded about 1% in the last hour of trade and ended with a loss of 3.75%.

Euro gold fell to about €580, platinum gained $10 to $2010, and copper remained at about $3.85.

Gold and silver equities fell over 3% by mid-afternoon, but they then rallied back higher in the last coupe of hours of trade and ended with only about 2% losses.

Report	For	Reading	Expected	Previous
Chicago PMI	Mar	48.2	46.0	44.5

Treasury Secretary Paulson unveiled today a 218 page plan that overhauls the regulatory system and essentially gives the fed more power to oversee the entire financial system. Highlights include the merging of the SEC and CFTC, a new federal Mortgage Origination Commission, and many other far reaching steps that have not been attempted since the Great Depression, but all of it is subject to Congressional approval which most assuredly will be a lengthy process.

Oil fell on a lower demand outlook and restored output in Iraq as the U.S. dollar index rebounded on a better than expected Chicago PMI reading, though dollar gains were minimal as the euro rose on a high eurozone inflation reading.

Treasuries rose as traders remain concerned about the overall health of the economy. While Chicago PMI came in higher than expected, it still gave a reading below 50 which indicates contraction in manufacturing activity.

The Dow, Nasdaq, and S&P rose slightly on the last day of the first quarter which overall turned in the worst quarterly performance in over five years for the major indices.

Among the big names making news in the market today were Schering, Merck, Citigroup, and IAC.

“April Gold finished down 14.4 at 916.2, 21.8 off the high and 0.2 up from the low.

May Silver closed down 0.63 at 17.31. This was 0.125 up from the low and 0.88 off the high.

The gold market initially waffled around unchanged early in the trading session Monday but as the trading session progressed, prices began to weaken. In fact, with an aggressive slide in crude oil prices on Monday morning and a host of selling seen in a number of physical commodity markets, it seemed as if broad based commodity fund selling was coming back into vogue again. In fact, with the exception of strength in the corn and natural gas markets very few commodity markets were able to get out from under a moderate wave of selling pressure. While the gold market might have been pressured by trade talk of a weekend story touting an increase in Peru gold production, the Peru numbers weren't significant enough to prompt much in the way of fresh gold selling. However, seeing slightly better than expected Chicago purchasing managers, a higher equity market and a sharp slide in oil prices might have prompted some gold traders to downplay the flight to quality status of gold again.

Like the gold market, the silver market started out the session by waffling around unchanged but after a weak attempt to rally, prices became progressively weaker. In fact, May silver prices after making a fleeting attempt to rise above $18.00 early in the trading session actually fell back toward the vicinity of the $17.00 per ounce level and that forged an extremely wide trading range for the session. Interestingly enough favorable US economic news and a mostly strong US equity market failed to provide support to silver and the rest of the industrial metals markets. In short, the silver market seemed to be locked into sync with the gold market and perhaps with most physical commodity markets.”- The Hightower Report, Futures Analysis and Forecasting

Note: Change in Total Tonnes from yesterday’s data: The ASX added 0.30 tonnes and the JSE subtracted 0.25 tonnes.

A proposed US$1.6 billion business combination between Metallica (MRB), New Gold (NGD), and Peak Gold (PIK.V), Gammon Gold’s (GRS) 3-year outlook and 2007 financial results, Ivanhoe’s (IVN) Mongolian worries, Goldcorp’s (GG) cyanide clarification, Rubicon’s (RBY) drill results, ASA’s (ASA) tender offer program, US Gold’s (UXG) CFO appointment, Gold Fields’ (GFI) leadership changes, Kirkland’s (KGI.TO) safety awards, Seabridge’s (SA) filed financial statements, Orko Silver’s (OK.V) increased resource estimate and drill results, Scorpio’s (SPM.TO) mill construction completion, and ECU’s (ECU.TO) new vein were among the big stories in the gold and silver mining industry making headlines today.

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

Richview Files Its Annual Financial Statements - More
- March 31, 2008 | Item | E-mail

Africo Resources Ltd.: Update regarding DRC legal issues - More
- March 31, 2008 | Item | E-mail

Miner New Gold makes C$1.37 bln in acquisitions - "New Gold Inc (NGD.TO: Quote, Profile, Research), a small Canadian gold producer, will acquire two peers for a combined C$1.37 billion ($1.34 billion) in a deal that allows the companies to take advantage of hot gold prices, the three miners said on Monday.

Under the deal, which would create a mid-tier miner, shareholders of Metallica Resources Inc (MR.TO: Quote, Profile, Research) would receive 0.9 common shares of New Gold for each common share, while shareholders of Peak Gold Ltd (PIK.V: Quote, Profile, Research) would receive 0.1 common share of New Gold for each share." More
- March 31, 2008 | Item | E-mail

Hard Creek Nickel Funds Carbon Sequestration Research - More
- March 31, 2008 | Item | E-mail

Hard Creek Nickel Corporation: Northwest Power Line Study to Dease Lake Announced - More
- March 31, 2008 | Item | E-mail

North Atlantic Resources Files Year End Audited Financial Statements and MD&A - More
- March 31, 2008 | Item | E-mail

Pacific North West Capital Closes $3,350,000 Private Placement - More
- March 31, 2008 | Item | E-mail

ICS Acquires "Karukuruku Concession" - More
- March 31, 2008 | Item | E-mail

Marathon signs Memorandum of Understanding with the Pic Mobert First Nation - More
- March 31, 2008 | Item | E-mail

AXMIN Inc.: Passendro Gold Project Feasibility Study Results Conference Call Notification- April 2nd, 2008 at 11:00am (ET) - More
- March 31, 2008 | Item | E-mail

MacDonald Mines Exploration Ltd. - 2,500 metre drill program underway on Big Mac property in James Bay Lowlands - More
- March 31, 2008 | Item | E-mail

Chinese Institute of Geology and Mineral Resources to Visit Douglas Lake Minerals' Properties - More
- March 31, 2008 | Item | E-mail

La Mancha Reports its 2007 Financial Results - More
- March 31, 2008 | Item | E-mail

Bald Butte has Indicated Resource Containing 168.5 Million Pounds of Molybdenum and Inferred Resource Containing 50.6 Million Pounds of Molybdenum - More
- March 31, 2008 | Item | E-mail

Sparton Resources Inc.: SBD Gold Project, Nevada; Advance Royalty Payment Made in Shares - More
- March 31, 2008 | Item | E-mail

Results of shareholder meetings of Birim Goldfields Inc. and Goldcrest Resources Ltd. - More
- March 31, 2008 | Item | E-mail

ISS Governance Services Recommends Carpathian Shareholders Vote "FOR" the Acquisition of the Riacho Dos Machados Gold Project - More
- March 31, 2008 | Item | E-mail

Soho Resources Corp.: Exploration Update - More
- March 31, 2008 | Item | E-mail

Lake Shore Intersects 8.57 Grams Gold Per Tonne Over 9.00 Metres at the Thunder Creek Property in Ontario - More
- March 31, 2008 | Item | E-mail

Bruce Ontario Bruce 7 reactor back in service - More
- March 31, 2008 | Item | E-mail

Pacific Comox Resources Ltd: 0.30% (6.1 Lbs/Ton) Molybdenum Over 14 Meters Starting at 30 Meters In Hole 103 at Ryan Lake - More
- March 31, 2008 | Item | E-mail

Acadian Mining Corporation year end results - Revenue from Scotia Mine operations commences - More
- March 31, 2008 | Item | E-mail

Freegold Drilling to Focus on Expanding Pogo-Style High-Grade Gold Veins at Rob - More
- March 31, 2008 | Item | E-mail

Murgor and joint venture partner await geochemical results from fifteen drill holes at the Mishibishu gold property, Ontario - More
- March 31, 2008 | Item | E-mail

Sulliden announces $2.25 million private placements and one for ten rights issue - More
- March 31, 2008 | Item | E-mail

Drilling at Real de Catorce in Mexico Continues to Deliver High Grade Intercepts for Normabec as Hole VMP-18 Cuts 1,014 g/t Ag, 2.31 % Pb and 1.82 % Zn - More
- March 31, 2008 | Item | E-mail

Galantas Operational Update - More
- March 31, 2008 | Item | E-mail

Kootenay Options Six Mexican Mineral Concessions to Klondike Silver - More
- March 31, 2008 | Item | E-mail

Eaglecrest Completes Seventh Gold Concentrate Shipment From San Simon Project - More
- March 31, 2008 | Item | E-mail

Golden Band Resources: Bingo exploration and development update - More
- March 31, 2008 | Item | E-mail

Aurora Reports 2007 Annual Results - More
- March 31, 2008 | Item | E-mail

Uranium One loss shrinks but warns on next quarter - More
- March 31, 2008 | Item | E-mail

Trelawney Resources Inc.: Assay Results Pending for Wawa, Ontario Gold Project - More
- March 31, 2008 | Item | E-mail

Caledonia Mining Announces Its Fourth Quarter and 2007 Annual Results - More
- March 31, 2008 | Item | E-mail

Belvedere increases reserves by 156% at the Hitura Nickel Mine - More
- March 31, 2008 | Item | E-mail

Klondike Silver Acquires Options to Six Mexican Mineral Concessions - More
- March 31, 2008 | Item | E-mail

Victory Nickel Issues Early Warning Report Regarding Wallbridge - More
- March 31, 2008 | Item | E-mail

Avnel Gold Mining Limited (AVK: TSX) announces 2007 annual results - Period ended December 31, 2007. - More
- March 31, 2008 | Item | E-mail

Bannerman Resources-Trading Halt on ASX - More
- March 31, 2008 | Item | E-mail

Explorator Commences 30,000M Phase III Exploration Program at El Espino-Venus Targets 43-101 Resource Estimate Update for Q3 2008 - More
- March 31, 2008 | Item | E-mail

Maximus/NFX cut the Highest Gold Grade Intersected to Date in the Bear Lake Area at Larder Lake - More
- March 31, 2008 | Item | E-mail

GWR Intersects 82 Metres of 0.37% Copper and 0.95 g/t Gold at Lac La Hache - More
- March 31, 2008 | Item | E-mail

Amador Gold Corp.: 45 metres (138 feet) of 0.75% Cu and 0.7% Ni on Byers-Loveland - More
- March 31, 2008 | Item | E-mail

Uranium One Announces Financial Results for 2007 - More
- March 31, 2008 | Item | E-mail

Avion Resources to Re-Commence Trading; Halt Imposed Following Announcement of Proposed Acquisition of Tabakoto and Segala Gold Projects in Mali - More
- March 31, 2008 | Item | E-mail

High River Gold Reports 2007 Year-End Results - More
- March 31, 2008 | Item | E-mail

Talon Metals provides update on Brazilian Gold Projects and reassesses resources at Sao Jorge Project - More
- March 31, 2008 | Item | E-mail

S.Africa's Eskom says no power outages on Monday - "South Africa's power utility Eskom [ESCJ.UL] will not implement planned power outages on Monday as electricity demand is within manageable levels, the company said.

In a statement on its Web site, Eskom said there was no "load shedding" planned for the day after initially announcing outages would start from this week." More
- March 31, 2008 | Item | E-mail

Osisko Tables Preliminary Assessment Study On Canadian Malartic Project - More
- March 31, 2008 | Item | E-mail

45 Metres (138 Feet) of 0.75% Cu and 0.7% Ni on Byers-Loveland - More
- March 31, 2008 | Item | E-mail

Gammon Gold Releases 3-Year Operational Outlook and Reserve and Resource Update - "As per the Company's commitment we are reporting today our 3-year outlook for 2008 to 2010 inclusive as well as Reserve and Resource updates for each of our key assets. Our production estimates anticipate a 17% to 20% compounded annual growth rate in gold equivalent production over 2007's actual production." Mr. Marion continued, "We have only explored 20-30% of our land position at Ocampo and El Cubo so together with current exploration programs at Ocampo and El Cubo and with the acceleration of our drilling campaign at our advanced Guadalupe y Calvo exploration property, we believe that we should be able to augment our Reserves and Resources from the stated 2007 year end figures, potentially increasing the Company's future production profile in the longer term." More
- March 31, 2008 | Item | E-mail

Ivanhoe Shares Drop on Mongolian Worries - "Shares of Ivanhoe Mining Ltd. fell Monday as investors mulled uncertainty over how Mongolia may oversee a highly promising copper and gold discovery. Ivanhoe is seeking permission to develop the massive Oyu Tolgoi discovery in southern Mongolia. Assets include measured and indicated reserves of 40.68 billion pounds of copper and 21 million ounces of gold." More
- March 31, 2008 | Item | E-mail

Orko Silver Increases Resource Estimate by 41% to 103.2 Million Ounces Silver Equivalent - "Orko Silver Corp. (TSX VENTURE:OK - News) is pleased to report that an updated NI 43-101 compliant mineral resource estimate has been completed on its La Preciosa Project in Durango, Mexico. The study concludes that work to date on the property has outlined an estimated Inferred Resource of 15.35 million tonnes grading 0.321 g/t Au and 190.0 g/t Ag at a cut-off grade of 100 g/t for a Silver-Equivalent grade of 209.2 g/t." More
- March 31, 2008 | Item | E-mail

Seabridge Gold Files Year End Audited Financial Statements and MD&A - "Seabridge Gold (CDNX:SEA.V - News)(AMEX:SA - News) announced today that it has filed its Audited Consolidated Financial Statements and its Management's Discussion and Analysis for the year ended December 31, 2007 on SEDAR (www.sedar.com). To review these documents on the Company website, please see http://www.seabridgegold.net/2007-Q4.pdf." More
- March 31, 2008 | Item | E-mail

Scorpio Receives Mill Facility Construction Completion Certificate And Provides A Project Update On The Nuestra Senora Project, Sinaloa State, Mexico - "The Scorpio team is extremely proud to have reached completion of the Nuestra Senora mill facilities. Considering that the initial ground breaking for the mill facility was on August 1, 2007, attaining this milestone within a period of only 8 months is an achievement that demonstrates the know-how and dedication of the Scorpio team." More
- March 31, 2008 | Item | E-mail

ECU Silver Discovers Northern Branch of Terneras East - "ECU Silver Mining (TSX:ECU - News; "ECU Silver" or the "Company") is pleased to announce the discovery of another new vein yielding an average of 2.18 g/t Au, 2,243 g/t Ag, 8.99% Pb and 6.85% Zn over a width of 0.26 metres (0.85 feet). This new vein is believed to be a northern branch of the Terneras East vein, the eastern extension of the major Terneras vein." More
- March 31, 2008 | Item | E-mail

Gammon Gold Announces Fourth Quarter & Year End 2007 Financial Results - "For the three-month period ended December 31, 2007 the Company reported sales of $39,699,932 compared to $34,381,498 for the same period in 2006. Net loss for the quarter was $20,728,989 or $0.19 per share compared to $3,291,590 or $0.04 per share for the same period in 2006." More
- March 31, 2008 | Item | E-mail

Goldcorp's El Sauzal Mine Receives International Cyanide Certification - "GOLDCORP INC. (Toronto:G.TO - News)(NYSE:GG - News) announced today that its El Sauzal mine in Mexico has become the first gold mining operation in Mexico to be fully certified under the International Cyanide Management Code for the Manufacture, Transport and Use of Cyanide in the Production of Gold ("the Cyanide Code")." More
- March 31, 2008 | Item | E-mail

Rubicon drills 8.0 metres (26.5 feet) of 36.50 g/t gold (1.06 oz/ton) at new F2 Zone - Phoenix Gold Project, Red Lake, Ontario - "Rubicon Minerals Corp (RMX.TSX : RBY.AMEX) is pleased to announce additional results from its new F2 Zone discovery located on its 100% controlled Phoenix Gold Project, located in the heart of the prolific Red Lake gold district." More
- March 31, 2008 | Item | E-mail

ASA Limited Announces Tender Offer Program and Urges Rejection of Laxey Slate at Annual General Meeting of Shareholders - "The Board of Directors of ASA Limited (NYSE: ASA - News) today announced that it has authorized a tender offer to purchase up to 25% of the Company's outstanding shares at a purchase price of 98% of net asset value (NAV) on the date the tender offer expires. In addition, the Board has approved subsequent annual tender offers in fiscal year 2009 and 2010, each for 10% of the outstanding shares at a purchase price of 98% of NAV on the date the tender offer expires." More
- March 31, 2008 | Item | E-mail

US Gold Appoints Perry Ing as Chief Financial Officer - "US Gold Corporation (Toronto:UXG.TO - News)(AMEX:UXG - News)(Frankfurt:US8.F - News) is pleased to announce the appointment of Perry Y. Ing (CA, CPA, CFA) as the Company's Chief Financial Officer effective March 31, 2008. Perry holds a Bachelor of Commerce Degree from the University of Toronto and is a Chartered Accountant in Canada, Certified Public Accountant in the US and Chartered Financial Analyst." More
- March 31, 2008 | Item | E-mail

Orko Silver Hits 20.85 Metres Grading 458.3 g/t Silver-Equivalent on Martha Vein Including Over 3 Metres Grading Greater Than 1.5 Kilos - "A deepening of hole BP06-71 was performed in late 2007, from 251 metres to a new depth of 533 metres, and the extended hole name was changed to BP06-71ext. The Martha Vein was intersected at a depth of 389.43 to 411.62 metres for a true width of 20.85 metres grading gold 0.414 g/t and silver 433.5 g/t, for a silver-equivalent of 458.3 g/t. Within this interval is a true width 3.05 metres grading gold 0.802 g/t and silver 1,547.4 g/t, for a silver equivalent of 1,595.5 g/t." More
- March 31, 2008 | Item | E-mail

Leadership Changes at Gold Fields - "The Board of Gold Fields Limited ("Gold Fields") (NYSE: GFI - News), (JSE: GFI), (DIFX: GFI) wishes to announce that, after a distinguished nine years with Gold Fields, the last six as Chief Executive Officer, Ian Cockerill has decided to step down. He will be joining a company outside of the gold industry, the name of which will be announced later in the week." More
- March 31, 2008 | Item | E-mail

2007 Financial Results, Project Cost Update and Project Update - "The Company incurred a loss of $61.4 million or $2.00 per share in 2007 compared with a loss of $3.5 million or $0.15 per share in 2006. The increased loss is primarily attributable to the $50.1 million impairment charge which the Company took in 2007 in respect of its investments in non-bank sponsored Asset Backed Commercial Paper ("ABCP")." More
- March 31, 2008 | Item | E-mail

Metallica Resources, New Gold and Peak Gold Announce Proposed US$1.6 Billion Business Combination to Create a New Intermediate Gold Company - "Metallica Resources Inc. ("Metallica Resources") (Toronto:MR.TO - News) (AMEX:MRB - News), New Gold Inc. ("New Gold") (Toronto:NGD.TO - News) (AMEX:NGD - News), and Peak Gold Ltd. ("Peak Gold") (CDNX:PIK.V - News) are pleased to announce they have signed a letter agreement to complete a business combination (the "Transaction"), creating a new globally diversified intermediate gold company with a market capitalization of approximately US$1.6 billion." More
- March 31, 2008 | Item | E-mail

Kirkland Lake Gold Wins Safety Awards-Both the Angus D. Campbell Award and Robert E. Dye Trophy - "The Angus D. Campbell award, first presented in 1950, is presented annually to the company operating in northeast Ontario with the lowest frequency of accidents. The award was presented jointly to both Kirkland Lake Gold and Rio Tinto, Luzenak Division last week at the annual awards dinner." More
- March 31, 2008 | Item | E-mail

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