Gold Seeker Closing Report: Gold and Silver End Slightly Higher

	Close	Gain/Loss
Gold	$927.20	+$1.95
Silver	$14.045	+$0.035
XAU	138.71	+0.73%
HUI	344.65	+1.13%
GDM	1049.21	+0.77%
JSE Gold	2581.05	-62.71
USD	82.31	-0.31
Euro	166.42	+0.43
Yen	104.39	-0.51
Oil	$58.62	+$0.60
10-Year	3.107%	+0.002
T-Bond	123.109375	+0.171875
Dow	8331.32	+0.56%
Nasdaq	1689.21	+1.50%
S&P	893.07	+1.04%

Gold traded mostly slightly lower in Asia and London and fell to its session low of $919.40 shortly after the open in New York, but it then steadily climbed back higher for most of the rest of trade and ended near its session high of $928.70 with a gain of 0.21%. Silver fell to as low as $13.76 in late Asian trade, but it then climbed back higher in London and New York and ended near its high of $14.11 with a gain of 0.25%.

Euro gold remained at about €681, platinum fell $5.50 to $1107.50, and copper fell slightly to about $2.03.

Gold and silver equities fell over 2% at the open, but they then climbed back higher for most of the rest of trade and ended with about 1% gains.

Report	For	Reading	Expected	Previous
Initial Claims	5/09	637K	610K	605K
PPI	Apr	03%	0.2%	-1.2%
Core PPI	Apr	0.1%	0.1%	0.0%

Tomorrow at 8:30AM EST brings CPI for April expected at 0.0%, Core CPI expected at 0.1%, and Empire Manufacturing expected for May expected at -15.0. At 9AM is the Net Long-Term TIC Flows report, at 9:15 are Capacity Utilization for April expected at 68.9% and Industrial Production expected at -0.6%, and at 9:55 is Michigan Sentiment for May expected at 65.0.

Oil ended with modest gains along with treasuries and the U.S. dollar index fell slightly while the Dow, Nasdaq, and S&P ended decently higher as early session economic woes were overcome in afternoon trade on renewed hopes that the worst may be over.

Among the big names making news in the market today were Chrysler, Ford, BofA, Sony, Kohl’s, Wal-Mart, and GM.

You take what works and you put it in one basket with some funding so they can screw it up again.

You take many dealers and throw them in the s**t heap. In that s**t heap called "bad motors" you put all the litigation and liabilities (parts manufacturers not paid selectively) plus very few dollars so it can’t under any circumstances work.

You declare victory assuming those that object, like hedge funds, can be summarily silenced by threatening to regulate their derivatives.

Nobody runs the numbers on the near 800 dealers, sales personnel and reception fired, the broken lunch wagons and the cars for sale stored at some abandoned airport that no one sees. Many parts dealers owed money can go fly a kite unless they are connected.

This is a pure Wall Street paper shuffle at its best; a shell game with no consideration for the fallout even if there is no delay in the bankruptcy. God help us all if somebody in the bankruptcy actually demands that contracts be adhered to in legal priority of payments.

Why not add a Stress Test and declare all motor companies have passed, with the exception of Kaiser Frazier and Studebaker. That might buy a few days before the nonsense of this plan becomes clear.

The system says if you cannot pay, you default. Now that Wall Street is in charge we are all going to default via a default in the US dollar, the final result of all this avoidance of the real.”- Jim Sinclair, JSMineset.com

“June Gold closed up 2.5 at 928.4. This was 7.9 up from the low and 0.3 off the high.

July Silver finished up 0.02 at 14.04, 0.05 off the high and 0.24 up from the low.

The gold market waffled around both sides of unchanged throughout the trading session and by most accounts, the gold market outperformed the rest of the metals complex. Clearly the scheduled US data was disappointing to the bull camp but surprisingly the gold bulls seemed to gather some support from the attempt to recover in the US equity market. With the Dollar mostly waffling around both sides of unchanged throughout the trading session Thursday it did not seem like the currency market influence was that definitive for the gold trade. However, strength in the equity market at times was significant enough to partially temper recent fears of a return to deflationary conditions.

It seemed to take a much more distinct rally attempt in the US equity markets to pull silver into positive ground around mid session today. However, like gold and a host of other physical commodity markets, the US data and early weakness in equities seemed to foment talk of too much slowing ahead. With a definitive attempt to bounce in stocks and a rejection of early weakness in the energy complex, it is possible that part of the broad based macro economic bearishness was attempting to drain from the marketplace.”- The Hightower Report, Futures Analysis and Forecasting

Timberline’s (TLR) second quarter financial results, IAMGOLD’s (IAG) first quarter results, Midway’s (MDW) exercised warrants, Great Basin’s (GBN) quarterly progress, Kirkland’s (KGI.TO) fourth quarter gold production, Alexco’s (AXU) exploration plans, Metalline’s (MMG) block models, Endeavour’s (EXK) first quarter results, Scorpio’s (SPM.TO) first quarter results, and South American Silver’s (SAC.TO) first quarter financial statements 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.

Azteca Gold Corp.: Two Mile Update and Closing of Private Placement - More
- May 14, 2009 | Item | E-mail

Oromin Explorations Ltd.: A New High-Grade Discovery at Sabodala to Complement Six Other Gold Deposits - More
- May 14, 2009 | Item | E-mail

African Copper Plc: Transfer and Demand for Repayment of Bonds - More
- May 14, 2009 | Item | E-mail

Strathmore's Gas Hills and Pine Tree-Reno Creek Wyoming Uranium Projects Remain Active - More
- May 14, 2009 | Item | E-mail

Kinbauri Announces Private Placement - More
- May 14, 2009 | Item | E-mail

Alexco Outlines 2009 Surface Exploration Plans at Keno Hill - "Alexco Resource Corp. (Toronto:AXR.TO - News)(AXU - News) ("Alexco" or the "Company") is pleased to announce plans for its 2009 surface exploration program in the Keno Hill silver district, Yukon Territory. The surface program is in addition to the approximately 10,000 meter underground definition and exploration drilling program which is presently under way at the Bellekeno Mine. The aim of the 2009 surface exploration program is to expand on the success of the 2006 through 2008 district exploration work, enhance and expand the historical resource base for the district, and to define new zones of mineralization within the Company's approximately 23,350 hectare Keno Hill land position." More
- May 14, 2009 | Item | E-mail

Pediment Announces Second Work Program at La Colorada - More
- May 14, 2009 | Item | E-mail

Bear Lake Gold Ltd. Announces Second Quarter 2009 Results and Credit Facility - More
- May 14, 2009 | Item | E-mail

Olympus to Raise Up to US$4 Million by Private Placement - More
- May 14, 2009 | Item | E-mail

Millstream Receives Positive Gold Gravity Test Work Results From Tamarack - More
- May 14, 2009 | Item | E-mail

RJK Explorations Completes Private Placements for Dorion South Platinum/Palladium/Cu/Ni Property - More
- May 14, 2009 | Item | E-mail

Metalline Mining Company Announces Silver and Zinc Oxide Block Models Indicates World Class Potential at Sierra Mojada - "Block model results for the lower Southside Zinc Oxide zone at Sierra Mojada estimate that the zone contains more than 24,270,000 cubic meters of material averaging 4.7% zinc and 12.7 grams silver per tonne above a 1% zinc cutoff. The block modeling process was described in our release dated April 1, 2009. The Northside Silver plus zinc deposit that was the subject of that press release is separate from and in addition to the Southside Zinc Oxide plus silver deposit reported here." More
- May 14, 2009 | Item | E-mail

NWT Uranium Corp.: Raphael Danon Appointed to Board of Niger Uranium - More
- May 14, 2009 | Item | E-mail

Endeavour Silver Reports Financial and Operating Results for Q1, 2009; Silver Production Up 13%, Cash Costs Down 24% Compared to Q1, 2008 - "Endeavour Silver Corp. ("Endeavour" or the "Company") (Toronto:EDR.TO - News)(AMEX:EXK - News)(DBFrankfurt: EJD) announced today its' financial and operating results and unaudited financial statements for the First Quarter, 2009. Endeavour owns and operates two high-grade, underground, silver-gold mines in Mexico, the Guanacevi Mines in Durango State and the Guanajuato Mines in Guanajuato State." More
- May 14, 2009 | Item | E-mail

Helio Discovers Major New Geochemical Anomaly at the SMP Gold Project in Tanzania - More
- May 14, 2009 | Item | E-mail

Golden Peaks Resources Ltd. - T11 Deposit High Priority Drill Targets Identified - More
- May 14, 2009 | Item | E-mail

Baja Mining Selects ICA Fluor as EPCM Contractor & Restarts Boleo Engineering - More
- May 14, 2009 | Item | E-mail

Timberline Announces Second Quarter Financial Results, Provides Operational Update - "Timberline Resources Corporation (NYSE Amex:TLR) (``Timberline'') today announced consolidated financial results for its second quarter of fiscal year 2009, which ended on March 31, 2009. On a consolidated basis, Timberline reported total revenues of $3.49-million and an after-tax net loss of $1.21-million, including non-recurring items and non-cash charges. Timberline's contract drilling subsidiaries, Timberline Drilling, Incorporated (``TDI'') and World Wide Exploration, S.A. de C.V. (``WWE''), reported combined revenues of $3.49-million and a combined after-tax net loss of $0.31-million for the quarter." More
- May 14, 2009 | Item | E-mail

Osisko Releases First Quarter 2009 Results - More
- May 14, 2009 | Item | E-mail

Unico, Inc. Issues May 2009 Investor Newsletter Reviewing Plans to Process Gold and Silver From Concentrate at the Deer Trail Mine - More
- May 14, 2009 | Item | E-mail

Golden Band Resources: Clarification - More
- May 14, 2009 | Item | E-mail

Carlisle Responds to Shareholder Request for Meeting Prior to AGM - More
- May 14, 2009 | Item | E-mail

Rockgate Announces Global Resource Estimate on Falea Uranium-Silver Project, Mali - More
- May 14, 2009 | Item | E-mail

Temex discovers new gold zone at Hallnor mine block, Timmins - More
- May 14, 2009 | Item | E-mail

Katanga Comments on Trading of Common Shares - More
- May 14, 2009 | Item | E-mail

Orvana Highlights Risks and Uncertainties Surrounding Kinbauri's Proposed Glen Eagle Transaction - More
- May 14, 2009 | Item | E-mail

Apoquindo Signs Option/Joint Venture Agreement for the Chalcocite-Enriched Zafranal Porphyry Cu-Au Project, Department of Arequipa, Peru - More
- May 14, 2009 | Item | E-mail

Anooraq and Anglo Platinum Report Results of Lebowa Technical Review - More
- May 14, 2009 | Item | E-mail

JNR Earns 70% Interest in Rocky Brook Project - Exploration Continues - More
- May 14, 2009 | Item | E-mail

Anooraq announces revised terms of the black economic empowerment transaction with Anglo Platinum & Pelawan - More
- May 14, 2009 | Item | E-mail

Underworld Secures Larger Land Position at White Gold Project - More
- May 14, 2009 | Item | E-mail

Metallic Ventures Gold Inc. announces board changes - More
- May 14, 2009 | Item | E-mail

Colorado Goldfields Inc. -- Live Video on Day One Pride of the West Mill Reactivation, Part 4 of a Series - More
- May 14, 2009 | Item | E-mail

Dia Bras Releases Fourth Quarter and Year End 2008 Financial Results - More
- May 14, 2009 | Item | E-mail

Paladin Energy Ltd: Financial Report for the Quarter Ending 31 March 2009 - More
- May 14, 2009 | Item | E-mail

Uranium Energy Corp Welcomes Mark Katsumata to the Company's Board of Directors - More
- May 14, 2009 | Item | E-mail

Largo Receives Critical License for Maracas Vanadium Project (Brazil) - More
- May 14, 2009 | Item | E-mail

FNX Reports First Quarter Results - More
- May 14, 2009 | Item | E-mail

VMS Ventures Discusses Exploration Strategy and Project Plans Through 2010 Winter Drilling Season - More
- May 14, 2009 | Item | E-mail

Marathon Announces 2009 Q1 Financial Results - More
- May 14, 2009 | Item | E-mail

High Desert Gold Corporation Files First Quarter 2009 Financial Statements - More
- May 14, 2009 | Item | E-mail

Minera Andes announces work stoppage at San Jose Mine - More
- May 14, 2009 | Item | E-mail

IAMGOLD Announces First Quarter Results; Net Earnings Increase of 53%; Gold Reserves Increase 29%; Essakane Project Progressing - "First quarter revenues of $188.6 million were in line with management expectations and reflect the completion of mining at the Sleeping Giant location in the fourth quarter of 2008. Net earnings increased by 53% to $52.5 million or $0.17 per share in the first quarter of 2009 compared to $34.4 million or $0.12 per share in the prior year period." More
- May 14, 2009 | Item | E-mail

Scorpio Announces First Quarter 2009 Results - "Scorpio's Mexican operations generated positive cash flows during its first quarter of commercial production, a period that coincided with very difficult economic conditions on a global scale. Since the first quarter, metal prices have strengthened, more favourable off-take smelter contracts have been finalized, mill blending has changed to a 2:1 (high-grade to development ore) ratio and long-term mining extraction plans were finalized. These positive factors should begin to be recognized in the second quarter resulting in increased revenues per tonne of concentrate sold. The Company has set strict mandates for 2009 to show profitability, and to date has exceeded all goals set. The Company continues to aggressively seek acquisitions of near-term, high-grade development projects and/or operating assets in Mexico." More
- May 14, 2009 | Item | E-mail

Midway Gold Warrants Exercised-Debt Retired - "Midway Gold Corp. ("Midway") (CDNX:MDW.V - News)(AMEX:MDW - News) is pleased to report that investors of the November 2008 private placement have fully exercised their share purchase warrants and the Company has issued 12,500,000 common shares pursuant to the exercise of share purchase warrants at a price of $0.28 per share for proceeds of $3,500,000. Parts of the proceeds from the warrants were used to pay in full a $1,000,000 promissory note and accrued interest." More
- May 14, 2009 | Item | E-mail

Great Basin Reports Progress in Quarter Ending March 31, 2009 - "The company incurred a loss of CDN 4 cents per share compared to the CDN 1 cent for the December 2008 quarter. The loss per share for the December quarter was influenced by a Future Income Tax credit of CDN 10 cents per share. In the quarter ending March 31, 2009, revenue of CDN$11.8 million (Dec 08 - CDN$16.9 million), net of milling costs of CDN$3.6 million (Dec 08 - CDN$3.2 million), was realized from the sale of 18,189 gold equivalent ("Au eqv") ounces (Dec 08 - 29,726 Au eqv ounces) from trial mining at Hollister. Cash costs, excluding milling costs, were CDN$398 or US$320 per ounce. A total of 17,102 tons of ore containing 23,441 Au eqv ounces was extracted during the quarter." More
- May 14, 2009 | Item | E-mail

Kirkland Lake Gold Inc.: April Gold Production of 8,916 Ounces Sets Monthly Record; Fourth Quarter Record Gold Production of 20,411 Ounces - "Kirkland Lake Gold Inc. ("Kirkland Lake" or the "Company") (TSX:KGI - News; AIM:KGI), an operating and exploration gold mining company located in Ontario, Canada, is pleased to provide an overview of its fourth quarter gold production for the months of February, March and April of 2009. The Company's new fiscal year 2010 began May 1, 2009." More
- May 14, 2009 | Item | E-mail

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