-- Posted 6 December, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1415.20 | +$10.20 |
Silver | $29.80 | +$0.68 |
XAU | 228.76 | +1.55% |
HUI | 590.98 | +1.62% |
GDM | 1759.10 | +1.61% |
JSE Gold | 2809.71 | +59.56 |
USD | 79.63 | +0.45 |
Euro | 133.04 | -1.08 |
Yen | 120.98 | +0.09 |
Oil | $89.38 | +$0.19 |
10-Year | 2.941% | -0.076 |
T-Bond | 126.71875 | +1.09375 |
Dow | 11362.19 | -0.17% |
Nasdaq | 2594.92 | +0.13% |
S&P | 1223.12 | -0.13% |
The Metals:
Gold extended last Friday’s late after hours strength and rose to as high as $1418.68 in Asia before it fell back to $1410.10 in London, but it then rose to a new session high of $1420.64 by late morning in New York and ended with a gain of 0.73% at a new all-time closing high. Silver climbed to $29.298 in Asia before it fell back to $29.457 in London, but it then rose to a new 30-year high of $30.058 in New York and ended with a gain of 2.34%. Both metals have risen to new highs in todays after hours access trade as well.
Euro gold rose to over €1063, platinum lost $8 to $1711.25, and copper remained at about $4.00.
Gold and silver equities rose throughout most of trade and ended with over 1.5% gains at new all-time highs.
The Economy:
Bernanke Says Fed May Take More Action to Curb Joblessness Bloomberg
GOP, Dems nearing deal on taxes, jobless benefits Yahoo
There were no major economic reports today. Tomorrow at 3PM EST brings Consumer Credit for October expected at -$2.3 billion.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil ended with a small gain on cold weather forecasts.
The U.S. dollar index rose on euro weakness that stemmed from renewed fears over debt problems in Europe.
Treasuries rose on worries over the economy that kept the Dow, Nasdaq, and S&P mixed and unchanged for most of trade.
Among the big names making news in the market today were AOL, Groupon, and Pfizer.
The Commentary:
“Seriously now, the more I listen to true prophetic commentaries and grasp what 26+ years in and around Wall Street has taught me, Bernanke’s comments last night on 60 minutes has truly scared me. Not only do I know think the crisis for America can ever be worse than I thought up until now, but I’m beginning to think the gold and silver market could go higher than my $2,000+ and $50+ targets long term.
This assessment of Bernanke’s comments is spot-on. When combined with all sorts of other bad economic, political and social factors, I truly am more bearishness for 2011 and beyond.”- Peter Grandich, Grandich Letter
“Silver was the star of the precious metals complex today as it shot higher in the face of a stronger Dollar and a mixed performance by the overall commodity sector. Its strength helped to pull gold higher particularly when it cleared $30 for the first time since many moons ago.
I have been receiving emails from some detailing the efforts to squeeze Morgan. If you track the daily open interest figures without looking at the larger picture, it can be oftentimes a bit unclear as to what is going on, mainly because the actions of spreaders can cloud the short term picture. It is revealing, however, when you look at the weekly silver chart and compare that to the COT chart over the same timeframe.
The big commercial-end user- producer class peaked its net short position in early September as did the net long position of the managed money (hedge funds). Since that time silver has rallied nearly $9 excluding the last few trading days (Monday included). Yet the net short position of the big commercial class has been steadily dropping while the net long position of the managed money class has been moving lower. Only in the last two weeks has this process been halted with a reversal in the size of both the net short commercial position and the net long managed money position. Ditto for the other class known as the Swap Dealers.
Apparently there has already been some sizeable short covering occurring in the Comex silver market that only recently has come to an end as the three groups mentioned above have gone back to their normal status quo. One group of buyers has been operating somewhat under the radar screen and that is the class known as the other reportables. These are large traders such as private individuals or locals or sometimes CTAs. They have been steadily buying since $22 and as of yet show no sign that they have had enough. While not the largest force to contend with in the market, they are also not to be ignored. Those who trade in reportable size in any market are generally not your typical, uninformed speculator but are those who tend to know their market fairly well. After all, large private traders are not risking client money – they are risking their own and that makes for no tolerance towards ignorance.
Oddly enough, it is not the small speculators who are in there buying. They have been steadily selling out the last few weeks even though overall as a group they remain as net longs.
What appears to have happened is that some of the large shorts apparently did not decide to roll to March on out shortly after they began exiting in front of the delivery process for the now-expired September contract. They seem to also have been hesitant to carry some of their December silver short positions. They might have opted to get out of the December earlier than normal to avoid some delivery pressures and then sat on the sidelines waiting for price to move higher before plying their craft of establishing new shorts once again. It also helps them avoid having to deliver if they avoid the front month. If that is the case, it explains the air pockets above the market which thus far have allowed Silver to shoot higher so rapidly.
What I am particularly interested in seeing now is whether they will attempt to rebuild the size of that short position or will look for ways to draw it down further. Based on what I can see of the last few days worth of open interest, they are adding to, not drawing down shorts. How this plays out is going to be extremely entertaining especially now that the metal has pushed to the $30 level. For guys who think watching prices change second by second is exciting this is all rather novel. For normal folks, what this simply means is that we have already seen what silver can do when it is experiencing some significant short covering. If it gets another round of this… well you can fill in the blanks based on what has been occurring. One thing is certain – more than a few call option writers have gotten slammed.
I mention all this because it is having an effect on the gold market. There are some guys playing the silver/gold spread and leaning on gold a bit as they load up on silver. Even at that, gold is still moving higher but it cannot yet clear its former all time high in US Dollar terms and move past that. It has however bettered its all time high in terms of both the British Pound and the Euro and continues moving strongly upward in terms of the world’s major currencies including the Yen where it is at another fresh 27 year high lacking only a relatively small gain before it posts a 29 year high. Once again gold is sending signals that there is a great deal of nervousness towards paper currencies globally.
It needs to clear resistance above $1420 to push on up towards $1440. There are a few bearish divergence signs but that is normal after a period of consolidation after which a market shoots rapidly to a new high. Bearish divergence signs mean nothing if they are not accompanied by a breakdown in price below a support level. This gold has not done. That being said, gold needs to continue to push higher in US Dollar terms to keep the technically-driven momentum funds from casting away their fleeting allegiance to the yellow metal. Initial support lies down near $1384-$1380 followed by better support close to $1,365.
The Dollar is higher today – YAWN! The Euro is lower – YAWN again. Big deal. It has become a game of what is worth less than the competitor. Both of them stink as does the Yen which more and more investors are wising up to and is the reason behind the strong climb higher in gold.
Bonds are higher today because Bernanke is worried about the economy. What a shock! Who would have ever dreamed that? Sure sounds like a great reason to buy more paper IOU’s especially given the fact that Ben said he could always buy even more of them if QE3 were needed.
Crude oil looked like it was going to make a run past $90 at one point in the session today but it faded from its best levels and is down a bit as I write this. It still looks to me like it has intentions on that level, however. We’ll see.
The HUI is outperforming the broader S&P 500 but it needs to get through 590 and leave that in the past for another leg higher. Trapped shorts are praying for a double top but would need a close way down below 530 to have a realistic shot at that.
Wheat keeps moving higher with weakness in corn and the beans pulling it back a tad. Palladium was down today but is trading above $750 which is amazing considering the fact that it was trading at $424 at the end of June this very year.”- Dan Norcini, More at JSMineset.com
GATA Posts:
New law lets Treasury diminish gold, silver coin production
Paul Brodsky: Dollar will be devalued against gold at $8,000
Squeeze story spreads as silver hits $30
GATA's Murphy to speak at Yukon mining e-conference
The Statistics:
Activity from: 12//2010
Gold Warehouse Stocks: | 11,579,711 | +93,536 |
Silver Warehouse Stocks: | 107,093,323 | -22,567 |
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 | 1298.030 | 41,732,949 | US$59,058m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 121.58 | 3,908,882 | US$5,547m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 132.19 | 4,250,105 | US$6,031m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,110 | US$648m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 51.01 | 1,639,859 | US$2,302m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,965 | US$7m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.417 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 107.95 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,776.68: -2.00 change from yesterday’s data.
The Miners:
Seabridge’s (SA) management appointments, NovaGold’s (NG) social media presence, US Gold’s (UXG) exploration update, Banro’s (BAA) new school handover, Agnico’s (AEM) conference call details, Randgold’s (GOLD) continued mine operations, Bear Creek’s (BCM.V) board appointment and drill results, ECU Silver’s discovery, Huldra Silver’s (HDA.V) assay results, First Majestic’s (FR.TO) mine expansion, Silvercorp’s (SVM) bought deal financing, and Esperanza’s (EPZ.V) exploration update were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Mines MGMT | MGN+24.31% $3.58 |
2. Metalline | MMG +9.17% $1.05 |
3. NovaGold | NG +8.51% $16.19 |
LOSERS
1. Almaden | AAU -2.93% $4.30 |
2. Cardero | CDY -1.99% $1.48 |
3. Golden Minerals | AUMN -1.67% $27.59 |
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:
Cameco Investor Webcast Advisory - More
- December 06, 2010 | Item | ShareThis
Chile Mining Technologies Provides Update for the Second Quarter of Fiscal 2011 - More
- December 06, 2010 | Item | ShareThis
Adroit Resources Inc.: Red Vein Volcanogenic Massive Sulphide (VMS) Property Drilling Planned, Mag Surveys and New Staking - More
- December 06, 2010 | Item | ShareThis
RJK ANNOUNCES PRIVATE PLACEMENT FINANCING - More
- December 06, 2010 | Item | ShareThis
Celtic Minerals Ltd. Provides Updates to Previously Disclosed Historical Resource Estimates - More
- December 06, 2010 | Item | ShareThis
Grayd Announces Filing of NI 43-101 Preliminary Assessment Technical Report on SEDAR - More
- December 06, 2010 | Item | ShareThis
Bear Creek Appoints Frank Tweddle to Board of Directors - "Bear Creek Mining (TSX Venture:BCM.v - News) ("Bear Creek" or the "Company") is pleased to announce that Frank Tweddle will join the Bear Creek Board of Directors effective December 6, 2010. Mr. Tweddle, a Peruvian citizen residing in Lima, is currently the Deputy CEO of Mitsui del Peru S.A in charge of trading and new business development in the areas of natural resources, energy and infrastructure in Peru. He previously held executive positions with Standard Bank and Southern Peru Copper Corporation ("SPCC") where he managed commercial conditions for concentrate placement, commodities forecasting, and structured project financing. During his tenure at SPCC as Vice President/Commercial, Mr. Tweddle was a member of the executive committee responsible for providing strategic direction over the business activities of the corporation including, mine and infrastructure expansion plans, review of exploration activities, government, labor & community relations, human resources and logistics." More
- December 06, 2010 | Item | ShareThis
Yankee Hat Announces Closing of Private Placement With the MineralFields Group - More
- December 06, 2010 | Item | ShareThis
Energy Fuels' and Royal Resources' JV "Colorado Plateau Partners" Acquires Uravan Mineral Belt Properties from Uranium One - More
- December 06, 2010 | Item | ShareThis
PEBBLE CREEK MINING LTD. OBTAINS LAST REMAINING PERMIT (FOREST CLEARANCE) REQUIRED FOR A 30-YEAR MINING LEASE - More
- December 06, 2010 | Item | ShareThis
SUNWARD INTERSECTS SIGNIFICANT WIDTHS OF GOLD MINERALIZATION IN STEP-OUT HOLE AT CERRO VETAS - More
- December 06, 2010 | Item | ShareThis
Dorato Receives Preliminary Geophysical Results: Identifies 13 Geophysical Targets Coincident with Fruta Del Norte Fault Zone Extension - More
- December 06, 2010 | Item | ShareThis
Lithium Americas Corp. Defines the 3rd Largest Lithium Brine Resource in the World - More
- December 06, 2010 | Item | ShareThis
Drilling Underway at the HB Property in Guatemala - More
- December 06, 2010 | Item | ShareThis
Bonanza Goldfields (BONZ.OB) Announces Company Enters Negotiation with Alto Group Holdings (ALTO.OB) to Participate in the Zuna Mining Project - More
- December 06, 2010 | Item | ShareThis
Ashburton Receives High Silver Assays for the Upper Vein System at Deep Creek, Nevada - More
- December 06, 2010 | Item | ShareThis
Uragold Completes the Acquisition of the Armstrong Gold Anomaly - More
- December 06, 2010 | Item | ShareThis
Castle Resources 2010 Drilling Results Confirm Significant Copper Below Mined-Out Orebodies and Extends Known Strike - More
- December 06, 2010 | Item | ShareThis
Dalradian's 40,000-Metre Drilling Program Begins in Northern Ireland - More
- December 06, 2010 | Item | ShareThis
VISIBLE GOLD MINES ANNOUNCES MAXIMUM $ 5.2 MILLION "FLOW-THROUGH" PRIVATE PLACEMENT - More
- December 06, 2010 | Item | ShareThis
Sphere Resources Inc. (the "Company") Enters Into Agreement to Acquire the McManus Property in Dome Township, in the Red Lake Mining District of Ontario - More
- December 06, 2010 | Item | ShareThis
Apella Commissions Updated NI 43-101 Compliant Technical Report to Include a Revised Resource Estimate and Releases Additional Assay Results - More
- December 06, 2010 | Item | ShareThis
Homeland Uranium Announces Record Date for Proposed Reduction in Capital Distribution - More
- December 06, 2010 | Item | ShareThis
Thunder Mountain Gold Options Cobalt/Gold Property in the Idaho Cobalt Trend - More
- December 06, 2010 | Item | ShareThis
Tres-Or Samples High Values of Gold, Silver, Lead, Copper, and Zinc and Increases Claims Position at Its East Mac Property, Quebec - More
- December 06, 2010 | Item | ShareThis
Augen Gold Drill Targets Greatly Enhance at West Cote Lake - More
- December 06, 2010 | Item | ShareThis
Alto Group Holdings Announces Company Concluding Negotiation to Acquire 50 Ton per Hour Rock Crushing Plant - More
- December 06, 2010 | Item | ShareThis
Announcing the Results of the Newly Discovered Porphyry related Copper-Molybdenum-Silver At the Silver Hope Project, central British Columbia - More
- December 06, 2010 | Item | ShareThis
Tigris Uranium Accelerates Uranium Program; Appoints Mr. Joe Harrington to Advisory Board - More
- December 06, 2010 | Item | ShareThis
Southern Arc Minerals Inc.: Further Update on the Processing of the West Lombok IUP - More
- December 06, 2010 | Item | ShareThis
La Quinta Resources Announces Panel Sampling of 1700 g/t Silver at BlackJack - More
- December 06, 2010 | Item | ShareThis
Company Plans Precious Metals Drill Program - More
- December 06, 2010 | Item | ShareThis
Latin American Minerals Announces $12.6 Million Asset Monetization - More
- December 06, 2010 | Item | ShareThis
Golden Hope Announces Drilling at Laval's Mountain - More
- December 06, 2010 | Item | ShareThis
Treasury Metals Closes $3.5M Private Placement and Appoints New CEO - More
- December 06, 2010 | Item | ShareThis
Hana Announces High-Grade Copper-Silver Results From Down Dip Drilling at the New Discovery Area of the Banana Zone - More
- December 06, 2010 | Item | ShareThis
Prominex Corporate Update - More
- December 06, 2010 | Item | ShareThis
Laurion Intercepts 15.4 Metres of 2.39 g/t Gold and 23.9 g/t Silver and 30.48 Metres of 0.62 g/t Gold and 12.1 g/t Silver, Including 4.57 Metres of 2.61 g/t - More
- December 06, 2010 | Item | ShareThis
Senior Management Appointments at Seabridge Gold - "Seabridge Gold (TSX:SEA - News)(AMEX:SA - News) announced today the appointments of R. Brent Murphy as Vice President, Environmental Affairs and Roderick Chisholm as Vice President, Finance." More
- December 06, 2010 | Item | ShareThis
American Consolidated Minerals Corporation: Review of 2010 Exploration Programs - More
- December 06, 2010 | Item | ShareThis
Creso Exploration Inc. Joins OTCQX - More
- December 06, 2010 | Item | ShareThis
Osisko and Clifton Star Intersect 42 Metres Averaging 3.38 g/t Au at Duparquet - More
- December 06, 2010 | Item | ShareThis
Olympus: Vietnamese Export Tax and Bau Gold Project Update - More
- December 06, 2010 | Item | ShareThis
Estrella Gold Announces Joint Venture on Pampa Poroma IOCG Target With Cliffs Natural Resources In Peru - More
- December 06, 2010 | Item | ShareThis
Viper Gold Completes Phase II Exploration Program on the Corongo Property With Results From the Descubridora Zone - More
- December 06, 2010 | Item | ShareThis
Rare Earth Metals Extends Two Tom Zone for a Total Strike Length of 1.1 km With Recent DDH Results of 1.45% TREO Over 83.25 Meters - More
- December 06, 2010 | Item | ShareThis
Prophecy Announces New Discovery at Lynn Lake Nickel-Copper Sulphide Project, Manitoba - More
- December 06, 2010 | Item | ShareThis
Clifton Star Receives $16.6 Million Budget for 2011 - More
- December 06, 2010 | Item | ShareThis
Tombstone Exploration Corporation Files to Become a U.S. Corporation - More
- December 06, 2010 | Item | ShareThis
Avion Gold Produces Over 7,800 Ounces in November 2010, and 78,500 Ounces for the Eleven Months Ended November 2010 - More
- December 06, 2010 | Item | ShareThis
Kirrin Resources Initiates Drill Program at Lost Pond Uranium Project - More
- December 06, 2010 | Item | ShareThis
Northair Commences Drilling at La Cigarra Silver Project, Mexico - More
- December 06, 2010 | Item | ShareThis
Rainy River Announces Significant Infill Drilling Results - More
- December 06, 2010 | Item | ShareThis
Bralorne Gold Mines Ltd.: New Resource Identified on BK Vein - More
- December 06, 2010 | Item | ShareThis
Rencore Resources Ltd. Completes VTEM Airborne Surveys and Stakes Claims - More
- December 06, 2010 | Item | ShareThis
Honey Badger Exploration and Entree Gold Identify New Copper Zones in Yerington Nevada; Entree Gives Notice of Intent to Earn Additional Interest - More
- December 06, 2010 | Item | ShareThis
Rodinia Lithium Inc. Intersects 204 Metres Grading 536 mg/L Lithium at Salar de Diablillos - More
- December 06, 2010 | Item | ShareThis
Capstone Reports Staged Resumption of Mining at Cozamin Mine, Zacatecas, Mexico - More
- December 06, 2010 | Item | ShareThis
Nevado Assays 63.5% Iron, 17.4% Titanium and 0.11% Vanadium in Surface Grab Samples at the Leduc Occurrence from the La Blache Property (Quebec) - More
- December 06, 2010 | Item | ShareThis
Creso Exploration Inc. Joins OTCQX - More
- December 06, 2010 | Item | ShareThis
Crowflight Closes Private Placement Financing, Completes Board Re-Structuring and Announces Management Changes - More
- December 06, 2010 | Item | ShareThis
Canaco Intersects 48.6 Metres at 14.81 Grams Gold Per Tonne at Magambazi-More Results to Come - More
- December 06, 2010 | Item | ShareThis
ECU Silver Uncovers Mantos-Type Mineralization at Chicago Mine - "ECU Silver Mining Inc. (TSX:ECU - News) is pleased to announce that it has discovered a "mantos-type" mineralized zone (also known as a "Chimney") in the new underground development at the Chicago mine. The newly discovered zone included a cut assaying 350 grams per tonne (g/t) silver (Ag), 6.40% lead (Pb) and 12.13% Zn over a width of 3.0 meters (m) (10 feet)." More
- December 06, 2010 | Item | ShareThis
Salazar Acquires Mariana and Its Gold Project in Loja Province, Ecuador - More
- December 06, 2010 | Item | ShareThis
Supatcha Resources Analyzing Recent Market Activity - More
- December 06, 2010 | Item | ShareThis
News Release Encore Renaissance Reports on Proposed 10,000 ft. Drill Program at the Bonaparte Gold Project - More
- December 06, 2010 | Item | ShareThis
Bear Creek Announces Positive Results From Phase I Drilling, Tassa Silver-Gold Project, Peru - "Bear Creek Mining (TSX Venture:BCM.v - News) ("Bear Creek" or the "Company") is pleased to announce results for the fifteen (15) diamond drill holes (3677.4 meters) from its Phase I drill program. The positive initial results in conjunction with ongoing mapping and sampling on the property will be evaluated to determine the scope of Phase II drilling expected to start after the rainy season in Q2 2011. Tassa is located approximately 160 kilometers northwest and 230 kilometers south of the Company's Santa Ana and Corani silver deposits respectively. Santa Ana is on the permitting track following completion of a positive feasibility study and a feasibility study at Corani is expected in late 2011." More
- December 06, 2010 | Item | ShareThis
NovaGold Launches Social Media Presence and New Website - "Social media gives us an exciting opportunity to provide new forums for investor and stakeholder engagement," said Rick Van Nieuwenhuyse. "NovaGold is committed to open, two-way communication, and we hope our investors and community partners will take this opportunity to engage with the Company and provide their feedback and questions. On behalf of the NovaGold team, I extend my thanks to our investors and partners for their loyalty and support, and we look forward to a prosperous New Year." More
- December 06, 2010 | Item | ShareThis
Huldra Silver Inc. Receives Drill Core Sample Results With Assays Up to 13736 gm/Tonne Ag or 441.61 oz/Tonne Ag at Treasure Mountain and Announces Pvt. Plmt. - "Huldra Silver Inc. (the "Company" or "Huldra Silver") (TSX VENTURE:HDA - News) is pleased to announce it has received complete assay results from an 17 hole HQ sized diamond drill program completed in September 2010. The samples assayed up to 13736 gm/tonne Ag (441.61 Oz/tonne), 60.05% Pb, 2.49% Zn, and 2.33% Mn in hole number 8 from 14.19m to 14.26m. All samples were analyzed at the ACME laboratory in Vancouver, B.C., a full service, ISO 9001:2008 accredited analytical laboratory. All lab quality control protocols were observed." More
- December 06, 2010 | Item | ShareThis
US Gold Corporation: Nevada Exploration Update - "US GOLD CORPORATION (AMEX:UXG - News)(TSX:UXG - News) is pleased to announce that recent drilling in Nevada has returned encouraging assay results from its Limo and Gold Bar Projects. At Limo, two new mineralized areas have been discovered: 1) a high-grade silver/gold vein, and 2) a potential bulk tonnage target. The best results from these two areas returned: 852 gpt silver, 1.77 gpt gold over 6.4 meters and 1.48 gpt gold over 48.8 meters, respectively. Drilling at Gold Bar continued to focus on expanding the gold mineralization beyond the current resource, returning 1.77 gpt gold over 38.1 meters." More
- December 06, 2010 | Item | ShareThis
First Majestic Silver Corp.: La Parrilla Expansion to 1,600 Tonnes Per Day - "First Majestic Silver Corp. (TSX:FR - News)(Pinksheets:FRMSF - News)(Frankfurt:FMV - News)(WKN: A0LHKJ) is pleased to announce the expansion of its 100% owned La Parrilla Silver Mine, located in Durango, Mexico has commenced. The extremely successful completion of the expansion of the Company's La Encantada Silver Mine has allowed management to focus its efforts on the Company's next major expansion project with ground breaking that started on December 1st, 2010." More
- December 06, 2010 | Item | ShareThis
Banro Foundation and the Luhwindja Community Celebrate Handover of New Primary School - "Banro Corporation ("Banro" or the "Company") (NYSE AMEX - "BAA"; TSX - "BAA") is pleased to report that the Banro Foundation, a registered charity in the Democratic Republic of the Congo (the "DRC"), has officially handed over to the community of Luhwindja in the South Kivu province of the DRC the new Chiburhi Primary School. The project was financed and built by the Banro Foundation using local contractors and labour. Luhwindja is located near Banro's Twangiza gold exploration and development project." More
- December 06, 2010 | Item | ShareThis
Silvercorp Metals Inc. Announces US$100 Million Bought Deal Financing - "Silvercorp Metals Inc. (TSX:SVM - News; NYSE:SVM - News; "Silvercorp" or the "Corporation") announced today that it has entered into an agreement to sell, to a syndicate of underwriters led by CIBC and BMO Capital Markets (collectively the "Underwriters"), on a bought deal basis, 8,000,000 common shares at a price of US$12.70 per common share, for aggregate gross proceeds of approximately US$101.6 million (the "Offering")." More
- December 06, 2010 | Item | ShareThis
Esperanza Reports Peru Exploration Update - "At the Colqui Orcco (Silver Hill) property, mapping and rock chip-channel sampling on trenches have identified three steeply dipping clustered veins in andesite with a cumulative strike length of 1,500 meters and widths up to 4.6 m. High-grade silver mineralization was encountered in two of the channels sampled." More
- December 06, 2010 | Item | ShareThis
Agnico-Eagle Announces Details for Conference Call to Provide an Update on its Corporate Plan and Exploration Activities - "Agnico-Eagle Mines Limited today announced that it will host a conference call on Thursday, December 16, 2010, at 9:45 AM (E.S.T.). At that time, senior management will provide an update on the Company's corporate strategy and future growth plans including a review of recent exploration results and its planned exploration activities." More
- December 06, 2010 | Item | ShareThis
Randgold Resources -- Tongon Mine Continues Operations - "Randgold Resources (NASDAQ:GOLD - News) (LSE:RRS - News) said today its recently commissioned Tongon mine in the north of Côte d'Ivoire was operating normally but that it was closely monitoring the political and security situation in the country." More
- December 06, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 6 December, 2010 | |
