-- Posted 13 August, 2009 | | Source: SilverSeek.com

The Metals:

Gold and silver rebounded from late yesterday’s slight post fed announcement losses and traded mixed in Asia prior to rising markedly in London to as high as $960.30 and $15.12 before they roughly halved their gains by about 10AM EST in New York, but they then bounced back higher into the close and gold ended with a gain of 0.51% while ended with a gain of 2.82%.

Euro gold remained at about €668, platinum gained $25.50 to $1261.50, and copper gained another 9 cents to about $2.91.

Gold and silver equities rose over 3% by late morning and remained near their highs into the close.

The Economy:

U.S. Foreclosure Filings Set Third Record-High in Five Months  Bloomberg

Tomorrow at 8:30AM EST brings CPI for July expected at 0.0% and Core CPI expected at 0.1%.  At 9:15 is Capacity Utilization for July expected at 68.4% and Industrial Production expected at 0.4%, and at 9:55 is Michigan Sentiment for August expect4ed at 69.0.

The Markets:

Charts Courtesy of http://finance.yahoo.com/

Oil rose after the IEA increased its global demand forecast.

The U.S. dollar index fell on poor economic data in the US while the euro rose on reports that France and Germany retuned to economic growth in the second quarter.

Treasuries rose while the Dow, Nasdaq, and S&P waffled near unchanged and ended modestly higher on worries over poor retail sales the economy.

Among the big names making news in the market today were Anheuser-Busch, Kohl’s, Citigroup, and Wal-Mart.

The Commentary:

“Dear Extended Family,

The economic intervention so far in this crisis has been limited in focus and vast in size.

So far all that has happened of note is that the losing side of the OTC derivatives have been bailed out to pay off the winning side. Yes, there has been some direct economic stimulus, but in comparison it is very small.

There has been much talk about regulating new OTC derivatives but this has nothing to do with the huge and growing mountain of WMDs outstanding. Exchanges have been studying listing derivatives, but so far no exchange can devise a method of accurate valuation and as a result no clearinghouse function is possible. No clearinghouse means no listing of the OTC form of derivative. This also has no application to the standing mountain of WMD paper.

All of the above speaks to financial intervention that has not been focused on offsetting the problem of a mountain of worthless paper that still threatens the financial system and therefore in time, as now, the real economy.

Intervention to stop a downward spiral must be focused on the primary economic factor causing the economic downward spiral. It has not been and now the real economy is in trouble.

The standard principle of Management of Perspective Economics is that markets will impact the thinking of all levels of business. Therefore a positive stock market can offset a deep recession and planners have taken comfort in the appreciation of world equity market indices.

The reason that this is a 1932 type rally is twofold. Nothing has really been done that can be called focused intervention to offset the economic downward spiral, and because problems have spread out of finance into the real economy.

Stay the course.

Do not be diverted by MOPE, SPIN or strong PR of technical opinions to the contrary, a form of spin.

We are far from the end to our problems. Very far.

Respectfully yours,”- Jim Sinclair, JSMineset.com

“December Gold closed up 4 at 956.5. This was 2 up from the low and 6.6 off the high.

September Silver finished up 0.402 at 14.987, 0.063 off the high and 0.217 up from the low.

The gold market forged an impressive range up extension on Thursday but didn't manage the gains without seeing noted action in both directions. It certainly seemed as if the gold market was undermined by the softer than expected US economic reports, especially since the Dollar spent most of the session around the initial lows. Seeing the US equity market recover later in the trading session seemed to rekindle macro economic optimism and that in turn seemed to lift a host of physical commodity markets like gold.

The silver market whipped around both sides of unchanged throughout the trading session, but eventually the bull camp seemed to garner definitive control. Well ahead of the US scheduled data reaction Thursday morning, nearby silver prices were as much as $1.02 an once above the prior sessions lows. However, silver and other industrial metals seemed to be keeping a close eye on the action in the equity markets, which in turn would seem to suggest that the silver trade is reacting to the ebb and flow of macro economic expectations.”- The Hightower Report, Futures Analysis and Forecasting

GATA Posts:

Jury gets income tax case involving value of gold, silver coins

The Statistics:

Activity from: 8//2009

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

Note: No change in Total Tonnes from yesterday’s data.

COMEX Gold Trust (IAU)

Note: No change in Total Tonnes from yesterday’s data.

Silver Trust (SLV)

Note: No change in Total Tonnes from yesterday’s data.

The Miners:

Goldcorp’s (GG) cyanide code certification, Allied Nevada’s (ANV) drill results, Seabridge’s (SA) second quarter results, Royal Gold’s (RGLD) fiscal 2009 results, Gammon’s (GRS) second quarter results, Banro’s (BAA) acquired process plant, Anatolia’s (ANO.TO) strategic relationship with Calik Mining, Indonesia’s stake in Newmont (NEM), Scorpio’s (SPM.TO) second quarter results, First Majestic’s (FR.TO) OTCQX membership, Endeavour’s (EXK) second quarter results, Silver Bear’s (SBR.TO) second quarter results and drilling program, and Silver Standard’s (SSRI) exercised over-allotment option were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

LOSERS

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:

Plexmar Reactivates Lima Stock Exchange (BVL) Listing Process - More
- August 13, 2009 | Item | E-mail

Zaruma Resources reports on Second Quarter 2009 - More
- August 13, 2009 | Item | E-mail

Scorpio Announces Second Quarter 2009 Results - "We, as a team, are very proud to report a record second quarter for commercial production with positive mine operating cash flows, positive net earnings, an increase in concentrate sales, underground production, mill throughput and silver grades and lower than budgeted Mexican cash operating costs per tonne, smelter treatment charges and underground development costs."s More
- August 13, 2009 | Item | E-mail

J-Pacific Returns Golden Trend Claims and Grants Incentive Stock Options - More
- August 13, 2009 | Item | E-mail

Bravo Reports Progress at Homestake Ridge - More
- August 13, 2009 | Item | E-mail

Kinbauri Board Issues No Recommendation on Orvana Offer - More
- August 13, 2009 | Item | E-mail

Asian Mineral Resources Option Awards - More
- August 13, 2009 | Item | E-mail

Golden Predator Raises $2,700,000 - More
- August 13, 2009 | Item | E-mail

Silex Ventures Inc. Announces Initial Results from Quia Resources' Scout Drill Program on Federation Property - More
- August 13, 2009 | Item | E-mail

Largo Provides Corporate Overview and Project Updates - More
- August 13, 2009 | Item | E-mail

Alturas Signs Agreement With Buenaventura on its Ccaccapaqui Gold-Silver Project in Peru - More
- August 13, 2009 | Item | E-mail

Orex Exploration Inc.: Update From the Goldboro Project, Nova Scotia - More
- August 13, 2009 | Item | E-mail

Alston Ventures Inc. Commences Drilling at Inmachuk - More
- August 13, 2009 | Item | E-mail

Orvana Urges Kinbauri Shareholders to Tender Their Shares for a 90% Cash Premium While They Can - More
- August 13, 2009 | Item | E-mail

MDN Inc.: Net Income of $1,153,330 or $0.012 Per Share - More
- August 13, 2009 | Item | E-mail

Golden Predator Completes Technical Report, Signs Option Agreement on Brewery Creek Project - More
- August 13, 2009 | Item | E-mail

Amador Gold to Commence Trenching and Stripping Program on Multiple Vein Sets Discovered on Strike With Recent High-Grade Gold Samples - More
- August 13, 2009 | Item | E-mail

Mega Uranium Ltd. Releases Unaudited Results for the Three and Nine Months Ended June 30, 2009 - More
- August 13, 2009 | Item | E-mail

Colombia Goldfields Ltd. Provides Second Quarter 2009 Financial Results - More
- August 13, 2009 | Item | E-mail

Kiska Metals Commences Exploration at Whistler, Alaska - More
- August 13, 2009 | Item | E-mail

Gold-Ore Reports Ronnberget Drill Results, Sweden - More
- August 13, 2009 | Item | E-mail

Diamondex and Triex Announce Business Combination - More
- August 13, 2009 | Item | E-mail

Golden Chalice Resources Moves Forward With Abitibi East Gold Exploration - More
- August 13, 2009 | Item | E-mail

Kaminak Reports New Gold Occurrences From Yukon's White District: Trenching on the Coffee Property Yields 2.30 g/t Au Over 21.0m - More
- August 13, 2009 | Item | E-mail

Selwyn Resources Receives Regulatory Approval of Vinata Property Acquisition - More
- August 13, 2009 | Item | E-mail

Lake Victoria Mining Company: 15 Additional Gold Tailing Piles Average 3.03 Grams per Metric Ton - More
- August 13, 2009 | Item | E-mail

Northern Freegold Drills 25 Metres of 2.45 g/t Gold Including 5 Metres of 6.82 g/t Gold At the Nucleus Zone on Its Freegold Mountain Property, Yukon - More
- August 13, 2009 | Item | E-mail

Dana Resources Extends Collota Gold Deposit to Exceed 8,000 Acres Through Acquisition of Collota One Gold Prospect - More
- August 13, 2009 | Item | E-mail

Iberian Reports Q2 Condestable Operating Results and Exploration, Aguas Tenidas and Hedging Updates, and Updates 2009/2010 Guidance - More
- August 13, 2009 | Item | E-mail

Garibaldi Resources Corp.: Appointment to Advisory Board - More
- August 13, 2009 | Item | E-mail

Quadra Mining Ltd. Announces 2009 Second Quarter Financial Results - More
- August 13, 2009 | Item | E-mail

Eastern Platinum Reports Results for the Three Months Ended June 30, 2009 - More
- August 13, 2009 | Item | E-mail

Golden Tag Resources Gives ECU Silver Mining Inc. Demand Notice to Cease Unauthorized Removal of Stockpile Material on the San Diego Joint Venture Property - More
- August 13, 2009 | Item | E-mail

Crosshair Announces Initial Uranium Resource at Bootheel - More
- August 13, 2009 | Item | E-mail

Mundoro Q2 2009 Financial Results - More
- August 13, 2009 | Item | E-mail

Quest Commences Diamond Drilling at the Strange Lake Rare Earth Project, Northeastern Quebec - More
- August 13, 2009 | Item | E-mail

CanAlaska updates current uranium exploration - More
- August 13, 2009 | Item | E-mail

Continental Nickel Files a National Instrument 43-101 Technical Report on SEDAR for the Nachingwea Project, Tanzania - More
- August 13, 2009 | Item | E-mail

Malaga reports its financial results for Q2 2009 - More
- August 13, 2009 | Item | E-mail

Sunergy Reports Update on Operations on Its 150 sq. km. Ghana Mining Concession - More
- August 13, 2009 | Item | E-mail

Crowflight Announces Second Quarter 2009 Financial Results - More
- August 13, 2009 | Item | E-mail

European Goldfields Limited - Results for Q2 2009 - Permitting process advances in both Greece and Romania - Strong growth in gold sales return to profitability - More
- August 13, 2009 | Item | E-mail

Bannerman Appoints Project Director to Lead Etango Project Development - More
- August 13, 2009 | Item | E-mail

Gold Resource Corporation Clarifies Federal Open Pit Permit Announcement - More
- August 13, 2009 | Item | E-mail

Ivernia Receives All-Clear to Commence Containerized Lead Carbonate Shipments Through Fremantle Port - More
- August 13, 2009 | Item | E-mail

Anvil Mining Reports Second Quarter 2009 Results - More
- August 13, 2009 | Item | E-mail

European Goldfields - Q2 Results - News Release - More
- August 13, 2009 | Item | E-mail

Uruguay Mineral Exploration Inc. Announces Results for the Fourth Quarter of Fiscal Year 2009 - More
- August 13, 2009 | Item | E-mail

Savant Receives Regulatory Approval of Grant of Option to Selwyn on Vinata Property in Mexico and Begins Exploration of Property - More
- August 13, 2009 | Item | E-mail

First Majestic Silver Joins OTCQX - "FIRST MAJESTIC SILVER CORP. (TSX:FR - News)(OTCQX: FRMSF)(Frankfurt:FMV - News)(WKN: A0LHKJ) (the "Company") announces that it is now trading on the OTC Market's prestigious tier, OTCQX "International" under the symbol "FRMSF". The Pink OTC Markets Inc. is a leading electronic inter-dealer quotation system, trading technology and financial information provider for over-the-counter (OTC) securities in the United States. Investors can find current financial disclosure and real-time Level 2 quotes for the Company on www.otcqx.com and www.pinksheets.com." More
- August 13, 2009 | Item | E-mail

Goldcorp's Marlin Mine Receives International Cyanide Code Certification - "GOLDCORP INC. (TSX:G - News)(NYSE:GG - News) announced today that the Marlin mine in Guatemala has become the first mining operation in Central America 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"). Marlin is Goldcorp's third gold mine to receive full certification. The Marigold mine in Nevada was the first gold mine in the world to be fully certified under the Cyanide Code, followed by El Sauzal mine, which was the first gold mine in Mexico to be fully certified." More
- August 13, 2009 | Item | E-mail

Endeavour Silver Reports Financial and Operating Results for Q2, 2009; Silver Production Up 13%, Cash Costs Down 28% Compared to Q2, 2008 - "Endeavour Silver Corp. ("Endeavour" or the "Company") (TSX:EDR - News)(AMEX:EXK - News)(DBFrankfurt: EJD) announced today its financial and operating results and unaudited financial statements for the Second 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
- August 13, 2009 | Item | E-mail

Allied Nevada: Hycroft Vortex Zone Drilling Returns 55 Feet of 16.85 g/t Gold Equivalent - "Allied Nevada Gold Corp. ("Allied Nevada" or the "Company") (TSX:ANV - News)(AMEX:ANV - News) pleased to present highlights from four holes drilled at the end of the 2008 drill campaign, not previously released, and two new holes from the current campaign, which is intended to define the recently discovered Vortex zone, south of the Brimstone deposit, at Allied Nevada's wholly owned Hycroft mine, located near Winnemucca, Nevada. Table 1, below, summarizes significant assay results." More
- August 13, 2009 | Item | E-mail

Silver Bear Announces Second Quarter Results; Increases 2009 Drilling Program - "The Company is in the exploration stage and therefore did not generate revenues from operations as at June 30, 2009. Silver Bear incurred a net loss for the six-month period ended June 30, 2009 of $7.8 million, or $0.21 per share. This compares to a loss of $5.3 million, or $0.15 per share, for the period ended June 30, 2008. The 2008 loss for the period included a $2.5 million gain on the sale of the Company's Avlayakan property, partially offsetting the operational losses." More
- August 13, 2009 | Item | E-mail

Seabridge Gold Files Second Quarter 2009 Financial Statements and MD&A - "During the six month period ended June 30, 2009, Seabridge recorded a net loss of $1,278,000 ($0.03 per share) compared to a loss of $1,305,000 ($0.03 per share) for the same period last year. During the second quarter, Seabridge invested $3,700,000 in mineral interests, primarily at KSM, compared to $2,623,000 during the same period last year. At June 30, 2009 net working capital was $24,077,000 compared to $28,724,000 at March 31, 2009." More
- August 13, 2009 | Item | E-mail

Royal Gold Reports Record Revenue and Free Cash Flow for Fiscal 2009 and Fourth Quarter - "ROYAL GOLD, INC. (NASDAQ:RGLD - News) (TSX:RGL - News), a leading precious metals royalty company, today announced record royalty revenue of $73.8 million for fiscal 2009 (ended June 30), an 11% increase over revenues of $66.3 million in fiscal 2008. Net income totaled $38.3 million, or $1.09 per basic share, compared with net income of $24.0 million, or $0.62 per share, in fiscal 2008." More
- August 13, 2009 | Item | E-mail

Gammon Gold Reports Second Quarter Financial Results, the Seventh Consecutive Quarter of Positive Operating Cash Flow - "As the 18-month Ocampo capital expansion program is largely complete, the Company can begin to leverage the benefit of this strategic and innovative expansion program. The positive impact the expansion program has already had on our operations is evident in the improved cash costs reported in the second quarter. Using our long-term gold equivalency ratio of 55:1, in spite of the lower production achieved in the quarter and extraordinary costs incurred related to the El Cubo labour disruption, cash costs have decreased by 18% over the same period in 2008." More
- August 13, 2009 | Item | E-mail

Banro acquires refurbished process plant to fast track gold production at its Twangiza project - "Banro Corporation ("Banro" or the "Company") (NYSE AMEX - "BAA"; TSX - "BAA") is pleased to announce that it has entered into an agreement to purchase a refurbished gold processing plant (the "plant") capable of achieving a throughput capacity of 1.3 million tonnes per annum. The closing of the purchase of the plant is expected to occur on or about September 21, 2009." More
- August 13, 2009 | Item | E-mail

Anatolia announces strategic relationship with Calik Mining - "Anatolia Minerals Development Limited ("Anatolia" or the "Company") (TSX: ANO - News) and Calik Maden Isletmeleri A.S. ("Calik Mining"), a subsidiary of Calik Holding A.S., have formalized an agreement to create a strategic relationship. The strategic relationship will allow Calik Mining to acquire up to a 20% interest in Anatolia's Cöpler Gold Project ("Cöpler") and outlines a structure for cooperation and cross-investment to explore and develop other mineral properties in Turkey. As part of the strategic relationship, Mr. Ahmet Calik will join the Board of Directors of Anatolia Minerals." More
- August 13, 2009 | Item | E-mail

Indonesia to buy 14 percent stake in US Newmont - "The Indonesian government will buy a 14 percent stake in a local subsidiary of the U.S. giant Newmont Mining Corp. as outlined in a divestment plan by international arbitrators, a senior official said Thursday." More
- August 13, 2009 | Item | E-mail

Silver Standard Announces Exercise of Over-Allotment Option - "Silver Standard Resources Inc. (TSX:SSO - News)(NASDAQ:SSRI - News) reports that the underwriters of its recently announced public offering (the "Offering") have exercised in full their over-allotment option and will purchase an additional 272,528 common shares at US$17.00 per share. The option was granted pursuant to the Offering of approximately 2.7 million common shares, at an offering price of US$17.00 per share, which is expected to close on August 17, 2009. The gross proceeds from the exercise of the over-allotment option will total approximately US$4.6 million." More
- August 13, 2009 | Item | E-mail

- Chris Mullen, Gold Seeker Report

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