-- Posted 13 October, 2009 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1063.30 | +$8.60 |
Silver | $17.80 | +$0.03 |
XAU | 179.27 | +1.82% |
HUI | 454.50 | +2.11% |
GDM | 1356.60 | +1.98% |
JSE Gold | 2678.52 | +22.86 |
USD | 75.95 | -0.21 |
Euro | 148.26 | +0.50 |
Yen | 111.46 | +0.05 |
Oil | $74.15 | +$0.88 |
10-Year | 3.312% | -0.072 |
T-Bond | 120.90625 | +0.78125 |
Dow | 9871.06 | -0.15% |
Nasdaq | 2139.89 | +0.04% |
S&P | 1073.19 | -0.28% |
The Metals:
Gold traded mixed in Asia before it shot up in early London trade to as high $1068.52 by about 7AM EST and then fell back near unchanged by late morning in New York, but it then rallied back higher into the close and ended near its new all-time high with a gain of 0.82%. Silver climbed to as high as $18.025 in London before it fell to see a 24 cent loss at $17.53 by about 10:30AM EST, but it also climbed back higher in the last few hours of trade and ended with a gain of 0.17%.
Euro gold rose to about €716, platinum gained $16.50 to $1352, and copper fell 6 cents to about $2.79.
Gold and silver equities rose about 2% midday and remained near their highs into the close.
Terrane Expands Gold Reserve to Six Million Ounces
By: Terrane Metals Corp.
Robert Pease, President and CEO of Terrane Metals Corp. ("Terrane" or the "Company") (TSX-V:TRX - News) is pleased to announce results of the Feasibility Update Study (the "2009 Study") for the Company's 100%-owned Mt. Milligan Copper-Gold Project (the "Project"), British Columbia, Canada.
The Economy:
There were no major economic reports today. Tomorrow at 8:30AM EST brings Import and Export Prices for September and Retail Sales for September expected at -2.1%. Excluding autos, sales are expected at 0.2%. At 10AM is the Business Inventories report for August expected at -0.9%, and at 2PM is the release of FOMC Minutes from September.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose after OPEC raised its demand forecast for next year.
The U.S. dollar index fell and treasuries rose on the view that the fed will not raise interest raise until at least late next year.
The Dow, Nasdaq, and S&P fell markedly at the open on a lackluster earnings report from Johnson and Johnson, but stocks then rebounded midday and ended mixed and near unchanged as earnings so far have not yet been as dismal as many fear they may be.
Among the big names making news in the market today were Johnson & Johnson, Cisco and Starent, Johnson Controls, Goldman Sachs, AIG, Dell, and Bank of America.
The Commentary:
“My Dear Friends,
Everything we have discussed here for many years is NOW taking place.
Everything we have suggested is coming is NOW on your doorstep.
Any ideas of trading have been smashed not only by common sense, but also by the flash systems against which you do not stand a chance.
All precious metals companies with materials in, on top or mining will succeed in market terms.
All shorts in both precious metals shares and gold itself will end up covering in a less than comfortable manner.
Gold will trade at $1250 and $1650 before seeking Alf’s and Armstrong’s prices.
The US dollar is nearing a severe crisis period that will occur this winter.
Middle American business is facing severe difficulty with a collapse of CIT or even a failure to refinance to a comfortable level a potential crisis-producing event. CIT is to Middle America what Lehman was to the financial industry.
There is very little to add today with one exception: Have you protected yourself?
Respectfully yours,”- Jim Sinclair, More at JSMineset.com
GATA Posts:
Ted Butler: Cut silver position limits down to 1,500 contracts
The Statistics:
Activity from: 10/12/2009
Gold Warehouse Stocks: | 9,339,911 | +3,903 |
Silver Warehouse Stocks: | 116,215,094 | -199,714 |
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) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx) | SPDR® Gold Shares | 1109.314 | 35,665,560 | US$37,756m |
London Stock Exchange (LSE) AND Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse ) | Gold Bullion Securities | 132.49 | 4,258,227 | US$4,529m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.37 | 460,450 | US$491m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 52.58 | 1,690,503 | US$1,790m |
NASDAQ Dubai | Dubai Gold Securities | 0.155 | 4,988 | US$5m |
Note: Change in Total Tonnes from yesterday’s data: The LSE added 0.91 tonnes.
COMEX Gold Trust (IAU)
Profile as of 10/12/2009 | |
Total Net Assets | $2,535,641,286 | Ounces of Gold
in Trust | 2,399,891.305 |
Shares Outstanding | 24,450,000 | Tonnes of Gold
in Trust | 74.64 |
Note: No change in Total Tonnes from yesterday’s data.
Silver Trust (SLV)
Profile as of 10/12/2009 | |
Total Net Assets | $4,942,428,806 | Ounces of Silver
in Trust | 276,310,606.400 |
Shares Outstanding | 281,050,000 | Tonnes of Silver
in Trust | 8,594.22 |
Note: No change in Total Tonnes from yesterday’s data.
The Miners:
NovaGold’s (NG) third quarter results, Gammon’s Chairman retirement, Ivanhoe’s (IVN) private placement with Rio Tinto (RTP), Exeter’s (XRA) drill results, Solitario’s (XPL) amended agreement with Metallic Ventures, Great Basin’s (GBG) mineral resource update, Goldcorp’s (GG) production at Penasquito, Timberline’s (TLR) increased gold mineralization, ITH’s (THM) expanded resource, First Majestic’s (FR.TO) plant construction, ECU’s (ECU.TO) monthly update, Sabina Silver’s (SBB.V) VMS discovery, Silvermex’s (SMR.V) agreement with Aurcana (AUN.V), and Silver Standard’s (SSRI) drilling update were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Timberline | TLR +26.32% $1.44 |
2. Metalline | MGH+11.11% $1.20 |
3. US Gold | UXG+10.51% $3.47 |
LOSERS
1. Alexco | AXU -6.21% $2.87 |
2. Aurizon | AZK -5.45% $5.20 |
3. Northern Dynasty | NAK -2.95% $7.56 |
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:
Telephone access available for Inmet Mining third quarter conference call - More
- October 13, 2009 | Item | E-mail
Golden Predator Commences RC Delineation Drilling at Adelaide Project, Nevada - More
- October 13, 2009 | Item | E-mail
Laverty Red Lake Drilling Intersects 3.56 Grams Per Tonne Gold over an Average Width of 27.9 Metres - More
- October 13, 2009 | Item | E-mail
NovaGold Third Quarter Financial Results - "For the three-month period ended August 31, 2009, the Company reported a net loss of $18.1 million (or $0.10 basic and diluted loss per share) compared to earnings of $1.6 million (or $0.02 basic and diluted earnings per share) for the corresponding period in 2008." More
- October 13, 2009 | Item | E-mail
Peru mine workers prepare for strike next week - "Peru's national federation of mine workers said on Tuesday it will hold walkouts across the country next week, although some unions have said they will stay on the job and others have yet to vote on the strike." More
- October 13, 2009 | Item | E-mail
Strait Gold Appoints Senior Geologist for Exploration in Peru - More
- October 13, 2009 | Item | E-mail
Capella Announces Drilling Update at Lajitas - More
- October 13, 2009 | Item | E-mail
Goldsource Mines Inc. Announcement - More
- October 13, 2009 | Item | E-mail
Lomiko Metals Creates Subsidiary to Acquire Lithium Brine Projects in the USA - More
- October 13, 2009 | Item | E-mail
Vior Closes a $300,000 Placement and Has Commissionned a Preliminary Economic Assessment on Douay Ouest - More
- October 13, 2009 | Item | E-mail
Gammon Gold President and Chairman Confirms Retirement - "I have been fortunate to work with a team of outstanding individuals, including: Rene Marion, Scott Perry, Russell Tremayne and our Board of Directors." said Mr. George. "I have great confidence in the strength of Gammon Gold's operating team and its ability to deliver. I am confident that Gammon Gold can only move forward from here." Mr. George continued, "As one of Gammon Gold's largest shareholders and one who fully appreciates Gammon Gold's growth potential, I have great confidence in its operating team." More
- October 13, 2009 | Item | E-mail
First Majestic Silver Corp.: La Encantada Expansion Nearing Completion - "First Majestic Silver Corp. (the "Company") (TSX:FR - News)(OTCQX: FRMSF)(Frankfurt:FMV - News)(WKN: A0LHKJ) is pleased to announce that the Company's new 3,500 tpd Cyanidation Plant at its La Encantada Silver Mine in Coahuila, Mexico is in the final stages of construction and the commissioning process commenced in last week of August." More
- October 13, 2009 | Item | E-mail
SEMAFO Diamond Drilling Program Validation and Increased Upside Potential for Wona Mineralisation At-Depth - More
- October 13, 2009 | Item | E-mail
Ontex Resources and Roxmark Mines Announce Merger - More
- October 13, 2009 | Item | E-mail
ECU Silver Increases Amount of Gold and Silver in the Month of September - "ECU is pleased to report on operations for the month of September. The Oxide Mill had its best performance since start-up and treated 15,545 tonnes of mineralized material at an average rate of 527 tonnes per day. This performance translated into the largest amount of gold to date, being 702 ounces of gold, a 42% increase over the month of August. Silver increased by 7% over the prior month to 13,744 ounces for September." More
- October 13, 2009 | Item | E-mail
Serengeti Commences Drilling on Choo and Mil Gold-Copper Targets Near Mt. Milligan, BC - More
- October 13, 2009 | Item | E-mail
Fjordland Exploration Inc.: Drilling Commences on Gold-Copper Target on QUEST JV's Mil Property Near Mt. Milligan, British Columbia - More
- October 13, 2009 | Item | E-mail
Velocity Minerals Ltd. Completes Partial Drill Program at Cassiar, BC - More
- October 13, 2009 | Item | E-mail
Aquiline Announces Updated Resource for Pico Machay Gold Project - More
- October 13, 2009 | Item | E-mail
Eagle Hill to Expand the Windfall Lake Camp to 340 Contiguous Claims With Options to Acquire Freewest and Murgor Properties - More
- October 13, 2009 | Item | E-mail
Rockcliff Announces Closing of $500,000 Financing - More
- October 13, 2009 | Item | E-mail
Excel Gold Mining Publishes its Weekly Update Releases, of the Montauban Mining Camp Exploration Campaign Progress. - More
- October 13, 2009 | Item | E-mail
Golden Eagle Receives Letter of Intent Offering $10 Million for the Purchase of Gold Bar Mill and Invitation to Negotiate Operating Agreement - More
- October 13, 2009 | Item | E-mail
Sabina Silver Announces Discovery of a Significant New VMS Deposit Located 15 Kilometres East of Hackett River - "The Wishbone project, comprised of a series of 95 mining claims, covers a volcanogenic massive sulphide ("VMS") district-scale land package over the highly prospective extension of the Hackett River Greenstone belt. The belt includes Sabina's 100% owned Hackett River project and extends 150 km to the south. It has received minimal historical exploration work; however the southern portion of the property (which includes the Yava and Musk VMS deposits owned by other parties) was covered by a 12,350 line km VTEM survey flown in 2008. This survey identified a multitude of precious metal, VMS and diamond anomalies." More
- October 13, 2009 | Item | E-mail
Amerpro Board of Directors approves name change - More
- October 13, 2009 | Item | E-mail
Murgor finds new partner in Eagle Hill to focus its exploration at the Windfall Gold Property in Quebec. - More
- October 13, 2009 | Item | E-mail
Alto Group Holdings Inc. Contracts Economic Geologist Dr. Allan P. Juhas - More
- October 13, 2009 | Item | E-mail
Goldstake-Update to Shareholders on the Current Status of 5 of Its Projects - More
- October 13, 2009 | Item | E-mail
Midlands Minerals Announces Financing of Up to $6 Million - More
- October 13, 2009 | Item | E-mail
Sara Creek Gold Enters Into Option Agreement - More
- October 13, 2009 | Item | E-mail
Silvermex Signs Final Agreement for Past Silver/Gold Producer Rosario - "Silvermex Resources Ltd. (TSX-V:SMR - News) (the "Company" or "Silvermex") is pleased to announce it has signed a definitive agreement with Aurcana Corporation (TSX-V:AUN - News) ("Aurcana") to acquire a 100% interest in the silver - gold - lead - zinc Rosario Property ("Rosario Property") located in south eastern Sinaloa State, Mexico." More
- October 13, 2009 | Item | E-mail
American Energy Production Inc. Announces Dorado Gold Mine Begins Processing Operations - More
- October 13, 2009 | Item | E-mail
ESO Announces Flow-Through Private Placement - More
- October 13, 2009 | Item | E-mail
Lydian's Step-Out Drilling Over 4 Km Distance at Amulsar Intersects New Gold, Including 76m at 1.0 g/t, 64m at 1.1g/t &52m At 1.1g/t - More
- October 13, 2009 | Item | E-mail
Mexivada resumes gold and diamond exploration in ROC Congo - More
- October 13, 2009 | Item | E-mail
Consolidated Thompson Announces it Will Hold a Conference Call to Give an Update on its Bloom Lake Project - More
- October 13, 2009 | Item | E-mail
Barrick earns in to Coppermoly's New Britain projects by spending up to AUD$20 million - More
- October 13, 2009 | Item | E-mail
American Sierra Gold Corp. Signs $6 Million Equity Financing Agreement - More
- October 13, 2009 | Item | E-mail
Island Arc Plans Financing and Nassile Drill Program - More
- October 13, 2009 | Item | E-mail
Rio Tinto to Double Its Interest in Ivanhoe Mines to 19.7% by Completing US$388 Million Tranche 2 Equity Placement - "Ivanhoe Mines' (TSX:IVN - News)(NYSE:IVN - News)(NASDAQ:IVN - News) Executive Chairman Robert Friedland and Deputy Chairman Peter Meredith announced today that Ivanhoe Mines has been formally notified that Rio Tinto immediately intends to complete its Tranche 2 private placement financing - consisting of 46,304,473 Ivanhoe shares at US$8.38 per share - for net proceeds to Ivanhoe of US$388 million." More
- October 13, 2009 | Item | E-mail
Noront Resources announces Change Of Venue for upcoming Annual and Special Meeting of Shareholders on October 15, 2009 - More
- October 13, 2009 | Item | E-mail
Canadian Mining Appoints Skoda to Mexican Exploration Committee - More
- October 13, 2009 | Item | E-mail
Exeter reports on 25 new drill holes at Cerro Moro - "Results have been received from an additional 25 diamond drill holes from the Escondida West, Central, and Far West sectors. Of 21 drill holes returning significant results, 9 returned bonanza gold and silver grades, including drill hole MD601 with 4.36 metres ("m") (14.3 feet) at 177.5 grams per tonne ("g/t") (5.15 oz/ton) gold equivalent*. All bonanza grade holes are from the Far West and Central sectors and are displayed in the following table." More
- October 13, 2009 | Item | E-mail
Rare Element Identifies High-Potential Whitetail Ridge Rare-Earth Target - More
- October 13, 2009 | Item | E-mail
Terrane Expands Gold Reserve to Six Million Ounces - More
- October 13, 2009 | Item | E-mail
Quadra Announces Third Quarter 2009 Production Results - More
- October 13, 2009 | Item | E-mail
Tara Minerals to Bulk Sample Gold Vein - More
- October 13, 2009 | Item | E-mail
Continental Precious Minerals Encouraged by Swedish Government's Uranium Mining Comments - More
- October 13, 2009 | Item | E-mail
ROYAL STANDARD MINERALS INC.(RYSMF): Plans for Goldwedge Project, Nye County, Nevada - More
- October 13, 2009 | Item | E-mail
Silver Dragon Establishes New Subsidiary to Develop Properties in North China - More
- October 13, 2009 | Item | E-mail
NQ Exploration to Start a 3,000-Metre Drill Program on the Carheil Property - More
- October 13, 2009 | Item | E-mail
Nevada Exploration Enters Into a Mining Lease and Option to Purchase Agreement on Genesis Gold's Hot Pot Claims to Consolidate the Kelly Creek Basin - More
- October 13, 2009 | Item | E-mail
Solitario Exploration & Royalty and Metallic Ventures Gold Inc. Amend Arrangement Agreement to Acquire All Outstanding Shares of Metallic Ventures - "Solitario Exploration & Royalty Corp. (NYSE Amex: XPL) (TSX: SLR - News) ("Solitario") and Metallic Ventures Gold Inc. (TSX: MVG - News) ("Metallic Ventures") today announced entering into an amendment (the "Amendment") to their definitive arrangement agreement (the “Agreement”) dated August 24, 2009, whereby Solitario increased its bid to acquire, through a friendly plan of arrangement, all outstanding shares of Metallic Ventures." More
- October 13, 2009 | Item | E-mail
Premier expands high-grade gold zones at Hardrock 12.5g/t gold across 6.7m - More
- October 13, 2009 | Item | E-mail
Aquila Resources and HudBay Minerals Resume Drilling at the Back Forty Project to Expand NI 43-101 Resource - More
- October 13, 2009 | Item | E-mail
East Asia Minerals Appoints Robert Parsons as Director - More
- October 13, 2009 | Item | E-mail
Great Basin Gold Provides Burnstone Mineral Resource Update and Project Progress - "An updated mineral resource estimate has been completed inclusive of all surface drilling up to July 2009 as tabulated below. At a cut-off of 400 cmg/t, the total Measured and Indicated resources have increased by 6% from approximately 10.9 million ounces to 11.6 million ounces Au and the Inferred resources have increased from approximately 2.4 million ounces Au to 4.6 million ounces Au." More
- October 13, 2009 | Item | E-mail
Jinshan Appoints New CEO and New Director - More
- October 13, 2009 | Item | E-mail
Nortec (TSX VENTURE: NVT) Acquires Rare Earth Metals Area Reservation, Seinajoki Project, Finland - More
- October 13, 2009 | Item | E-mail
Superior Mining International Corporation: Significant Gold Results Encountered From Drilling of New Zealand Ross Alluvial Property - More
- October 13, 2009 | Item | E-mail
Goldcorp Announces First Production of Concentrates at Penasquito Mine - "GOLDCORP INC. (TSX:G - News)(NYSE:GG - News) today announced that the first lead and zinc concentrates have been produced at its new Penasquito mine in Mexico. Throughout its mine life Penasquito will produce both lead and zinc concentrates, with most of the gold and silver production coming from the lead concentrates." More
- October 13, 2009 | Item | E-mail
Timberline Increases Gold Mineralization Estimate at Its Butte Highlands Gold Project - "Timberline Resources Corporation (NYSE Amex:TLR) ("Timberline") announced today that it has completed an updated calculation of the estimated gold mineralization at its Butte Highlands Gold Project joint venture." More
- October 13, 2009 | Item | E-mail
Bayswater Announces Drill Results from Otis Gold Joint Venture at Kilgore Project Including 55.4 Metres of 6.15 g/t Gold - More
- October 13, 2009 | Item | E-mail
Capital Gold Increases Reserves at Its El Chanate Mine by Over 64% - More
- October 13, 2009 | Item | E-mail
VG Gold Welcomes New Davidson-Tisdale Partner San Gold - More
- October 13, 2009 | Item | E-mail
Skygold Announces Appointment of New Director - More
- October 13, 2009 | Item | E-mail
General Metals Recent Sampling Returns 20 Feet Grading 0.120 Ounces of Gold per Ton From Historic Core at Independence Mine - More
- October 13, 2009 | Item | E-mail
Terrane Expands Gold Reserve to Six Million Ounces - "Robert Pease, President and CEO of Terrane Metals Corp. ("Terrane" or the "Company") (TSX-V:TRX - News) is pleased to announce results of the Feasibility Update Study (the "2009 Study") for the Company's 100%-owned Mt. Milligan Copper-Gold Project (the "Project"), British Columbia, Canada." More
- October 13, 2009 | Item | E-mail
Conway Resources Announces $350,000 Private Placement - More
- October 13, 2009 | Item | E-mail
Carpathian Intersects 17 m of 2.83 g/t Au, at the RDM Gold Project, Brazil and Targets a Feasibility Study for Q1, 2010 and Additional Growth - More
- October 13, 2009 | Item | E-mail
Gold Hawk Mails Meeting Information Circular This Week - More
- October 13, 2009 | Item | E-mail
Northland Reorganizes Senior Executives in Response to Improved Market Conditions - More
- October 13, 2009 | Item | E-mail
Drilling Continuing on Three Hard-Rock Target Zones at Sacre-Coeur's Million Mountain Gold Project - Zone 2 and Zone 9 Plus Potential Extension of Zone 1 - More
- October 13, 2009 | Item | E-mail
David Rovig to Retire as President and CEO of Greystar Resources - More
- October 13, 2009 | Item | E-mail
Jourdan Resources is Arranging a Non-Brokered Private Placement - More
- October 13, 2009 | Item | E-mail
International Tower Hill Expands Livengood Gold Resource by 64% - "International Tower Hill Mines Ltd. ("ITH" or the "Company") - (TSX-V:ITH - News)(AMEX:THM - News)(Frankfurt:IW9 - News) is pleased to announce the results of the independently prepared October 2009 mineral resource estimate for the Money Knob deposit at the Livengood gold project near Fairbanks, Alaska. The independent study incorporates all drilling results received through September 25, 2009, a total of 308 diamond and reverse circulation holes, totalling 83,200 metres. The project continues to operate 4 drills and expects to complete approximately 25 additional holes before the end of the 2009 drill campaign. Results for an additional 37 completed drill holes are pending." More
- October 13, 2009 | Item | E-mail
Silver Standard Resources Inc.: Brucejack Drilling Update - "Silver Standard Resources Inc. (TSX:SSO - News)(NASDAQ:SSRI - News) is pleased to report that diamond drilling in the Brucejack Area of its wholly-owned Snowfield Project continues to intersect significant values of gold-silver mineralization. This area of the property, which measures approximately 300 meters by 620 meters, is located 62 kilometers north of the town of Stewart and 25 kilometers southeast of Barrick's high-grade gold-silver mine at Eskay Creek." More
- October 13, 2009 | Item | E-mail
- Chris Mullen, Gold Seeker Report
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-- Posted 13 October, 2009 | |
