-- Posted 15 December, 2010 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1385.20 | -$18.50 |
Silver | $29.19 | -$0.51 |
XAU | 221.20 | -1.73% |
HUI | 567.07 | -1.85% |
GDM | 1683.30 | -1.83% |
JSE Gold | 2834.03 | +6.45 |
USD | 80.23 | +0.84 |
Euro | 132.12 | -1.63 |
Yen | 118.69 | -0.90 |
Oil | $88.62 | +$0.34 |
10-Year | 3.520% | +0.065 |
T-Bond | 120.5625 | -0.53125 |
Dow | 11457.47 | -0.17% |
Nasdaq | 2617.21 | -0.40% |
S&P | 1235.23 | -0.51% |
The Metals:
Gold chopped its way lower throughout most of world trade and ended near its early morning New York low of $1383.99 with a loss of 1.32%. Silver fell to as low as $28.881 in London before it climbed back higher in New York, but it still ended with a loss of 1.72%.
Euro gold fell to about €1044, platinum lost $10.25 to $1697.25, and copper fell over 7 cents to about $4.13.
Gold and silver equities fell throughout most of the day and ended with almost 2% losses.
The Economy:
Report | For | Reading | Expected | Previous |
MBA Mortgage Applications | 12/10 | -2.3% | - | 0.9% |
CPI | Nov | 0.1% | 0.2% | 0.2% |
Core CPI | Nov | 0.1% | 0.1% | 0.0% |
Empire Man. Survey | Dec | 10.57 | 3.0 | -11.14 |
Net Long-Term TIC Flows | Oct | $27.6B | - | $77.2B |
Industrial Production | Nov | 0.4% | 0.3% | -0.2% |
Capacity Utilization | Nov | 75.2% | 75.0% | 74.9% |
NAHB Housing Market Index | Dec | 16 | 17 | 16 |
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 12/11 expected at 425,000, Housing Starts for November expected at 545,000, Building Permits expected at 560,000, and the third quarter Current Account Balance expected at -$125.3 billion. At 10AM is the Philadelphia Fed survey for December expected at 13.0.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil rose after the Energy Information Administration reported that crude inventories fell 9.85 million barrels, gasoline inventories rose 800,000 barrels, and distillates rose 1.1 million barrels.
The U.S. dollar index rose as the euro fell after Moody's put Spain's AA1 rating on review for a possible downgrade.
Treasuries fell on mostly better than expected economic data that sent the Dow, Nasdaq, and S&P higher in morning trade, but all three indices fell back off in early afternoon trade and ended with slight losses after the dollar added to its morning gains.
Among the big names making news in the market today were Novartis and Alcon.
The Commentary:
“Dear Friends,
There is a dire collapse taking place below the radar screens of the public. The financial condition of the fellow states of a currency union is the most critical component of a common union currency's value today. It is the challenged financial integrity of member states and their constituents, the cities, towns and villages that make up the state where risk is most prevalent.
The municipal bond market is today in a second freefall as such entities now are failing in paying their obligations to suppliers and services. In many instances the overdue payments are 6 to 9 months in arrears.
Simple common sense tells you that if suppliers and servicers cannot be paid, you cannot meet your interest due obligation to the bond funding upon which these constituents of the state depend.
Fancy financial manoeuvres have been utilized at year-end to camouflage this growing and now transparent risk of bankruptcy. There is no difference between the use of OTC derivatives to camouflage Greece's financial weakness and the present procedures of fancy bookkeeping on behalf of the 40 now identified states of the United States.
Worst of all is that these municipalities are now in line at the gates of the Barbarians that actually caused all of this. They are seeking assistance from the very same international investment banks that are the OTC derivative manufactures and distributors of that singular cause of all the Western world monetary suffering. They are the chickens walking into the fox's lair that can only means their bones will be cleaned of flesh.
The momentum decline of the euro in operation short of the euro, named "Shark Feed," is the best precursor of the " Shark Feed" being a terminal attack on the US dollar very soon.
Gold is the only insurance against this unprecedented Western world financial malaise. It will rise in price to $1650 and beyond.
Respectfully,”- Jim Sinclair, JSMineset.com
“Dear CIGAs,
Price action in both gold and silver is indicative of the beginnings of holiday trade as players begin squaring books ahead of the year’s end and move to the sidelines in anticipation of taking some time off. Potential exists for some rather strange moves in price. Try not to read too much into it as both longs and shorts exit the market only to return at the start of the New Year’s first full trading week. Pit locals LOVE this time of year as it gives them a chance at picking the pockets of both longs and shorts as they can use the thin trading conditions to go after both upside and downside stops. A lot of them put their kids through college based on the money they secure during holiday trading conditions. Stops are easy money for them although occasionally one or two fund traders will hang around long enough to mess with their plans.
Technically, gold needs two consecutive closes above $1400 to kick it up towards $1420. Downside support exists near the $1375 level with bears hoping to break it down below there and push it towards $1355 or so. Look for dip buyers to be active should that occur.
Silver needs to secure at least one PIT SESSION CLOSE over $30 to give it a shot at taking out the recent peak near $30.75. As stated in previous posts and in my recent radio interviews, silver is not acting like a massive short squeeze is occurring. We will know it from the price action when that occurs. Right now, it is not. The current state of the silver market is one of resting below a critical resistance level. There is good buying showing up on dips towards $28.50. Silver shorts would dearly love to take out $28 but so far the quality of the buying that has been occurring is thwarting them from so doing.
The HUI is stuck in the same situation as both metals. The recent top near 600 is strong resistance with sellers digging in their heels up there but buyers appear active on forays towards the 560 level. The end result is a sort of range trade or consolidation period.
The big story, bigger than the action in both the metal’s pits, is what continues to occur in the long bond market. It simply cannot seem to get any traction to the upside whatsoever. A market that acts like this is telling us that sellers are eager to unload bonds for whatever reason. More and more the focus of the bond market is the supply of these things versus the waning demand. When you get a day in which the equity markets fade lower and the bonds cannot hold their gains even with that sort of supportive backdrop, it is quite telling. It is saying that bond owners believe that the risk/reward for holding bonds is moving against them.
There can be several reasons for this psyche. First – fears of inflation which erodes the value of bonds. Second – fears of repayment of the principal. That may not be as much of a problem when it comes to US Treasuries in particular (they can always conjure more into existence to pay off existing ones!), but there are more than a few municipals that are looking increasingly dubious. Throw in a good dose of debt woes from sovereign nations over in Euroland and many bond holders are getting nervous about these IOU’s in general, particularly when they see riots tied to austerity measures that might work to bring some of these spendthrift nations back towards some semblance of fiscal health. Some might be thinking to let’s just get out of them completely and look for somewhere else to park our money given the strong potential for monetary and political leaders to take the path of easier resistance of just issuing more debt rather than face down a crowd of angry rioters. Thirdly – growing suspicions that China is unloading Treasuries and looking to use its massive reserves to secure sources of raw materials and precious metals. “Why be the last man holding the bag” if the big buyer is stealthily selling them. Fourthly – the Bernanke-led Fed announced that they continue with their QE program because the unemployment numbers remained too high and inflation was too tame. Any bond holder hearing that would be nuts to hold those paper promises in his or her’s hand. Lastly – some are looking at the agreement coming out of the lame duck session of Congress and see another bloated spending bill resulting in a further worsening of the US fiscal condition. Whatever the reasons, and there might be others, ( I Have a suspicions that the big banks did not like the profit potential from the narrow yield curve), bonds are a technical train wreck on the charts that looks to have more carnage inflicted upon it judging from the eagerness of sellers.
See yesterday’s bond chart for support levels. Should 119 give way, there does not appear to be much in the way of preventing a fall towards 115.
That brings us to the Dollar – it is going to be moving higher or lower based on the day to day focus of the Forex markets. On days in which Europe’s woes gain ascendancy, the Dollar will move higher. On days in which the focus turns to the US’s own set of economic or monetary woes, the Euro will move higher and the Dollar will sink. Neither of these two currencies are worth the rag paper that they are printed on so it has really become a lesser of two evils situation. “Would you prefer arsenic or strychnine with that sir?” Until yields rise high enough to compensate holders of debt denominated in either currency for the risk associated with holding them, gold and silver, and copper, platinum and palladium for that matter, will stay strong in price. All of these metals are currently serving as stores of value or stores of wealth and until something changes along those lines, it is difficult to see why those looking for such havens would shun them.”- Dan Norcini, More at JSMineset.com
GATA Posts:
CFTC will miss statute's deadline on commodity position limits
Reformer from NY Fed gets reformed himself ... by Goldman Sachs
The Statistics:
Activity from: 12/13/2010
Gold Warehouse Stocks: | 11,514,340 | -64 |
Silver Warehouse Stocks: | 105,847,302 | +35,374 |
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 | 1286.794 | 41,371,710 | US$57,445m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 121.96 | 3,921,110 | US$5,447m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 132.27 | 4,252,653 | US$5,910m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 475,065 | US$632m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 51.00 | 1,639,661 | US$2,294m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,964 | US$7m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 3.036 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 116.63: +8.21 change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,964.14: +72.96 change from yesterday’s data.
The Miners:
Exeter’s (XRA) report on development studies, Rubicon’s (RBY) award, Metalline’s (MMG) drill results, Fortuna’s (FVI.V) drill results, and Silvercorp’s (SVM) drill results were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Solitario | XPL +7.89% $2.73 |
2. Metalline | MMG+6.30% $1.18 |
3. Claude | CGR+5.95% $1.78 |
LOSERS
1. Paramount | PZG-5.23% $2.72 |
2. Cardero | CDY-5.10% $1.49 |
3. Jaguar | JAG -4.54% $6.73 |
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:
Lincoln Mining Grants Stock Options - More
- December 15, 2010 | Item | ShareThis
Beaufield Grants Stock Options - More
- December 15, 2010 | Item | ShareThis
Megastar Development Corp.: Results of Annual General Meeting; Special Meeting of Shareholders to Be Held on December 20, 2010 - More
- December 15, 2010 | Item | ShareThis
Tagish Lake Obtains Shareholder Approval of Plan of Arrangement - More
- December 15, 2010 | Item | ShareThis
Amarc Announces $7.5 Million Financing - More
- December 15, 2010 | Item | ShareThis
Western Troy Options Gold/Iridium Property to Alpaca Holdings, Stakes Claims on Lachabel Prospect - More
- December 15, 2010 | Item | ShareThis
SLAM HITTING MORE MINERALIZATION AT RESERVE CREEK GOLD DEPOSIT - More
- December 15, 2010 | Item | ShareThis
Levon Resources Updates Cordero Phase 3 Exploration: Project Accelerates - More
- December 15, 2010 | Item | ShareThis
Antioquia Gold Inc. Files its Annual Information Form - More
- December 15, 2010 | Item | ShareThis
Timmins-Gowest Announces Multiple High Grade Gold Intersections in Shallow Extensions of Frankfield East Gold Deposit - More
- December 15, 2010 | Item | ShareThis
Portage Grants Stock Options - More
- December 15, 2010 | Item | ShareThis
SUNWARD ANNOUNCES UP TO $51.3 MILLION FINANCING ANCHORED BY STRATEGIC INVESTOR - More
- December 15, 2010 | Item | ShareThis
US SEC plans to shine light on mining industry - "U.S. securities regulators proposed rules that would force mining companies to disclose information on mine safety and other companies to disclose payments made to domestic and foreign governments." More
- December 15, 2010 | Item | ShareThis
GALWAY INTERCEPTS 24.0 METERS OF 8.4 G/T GOLD AND 96.0 METERS OF 1.6 G/T GOLD, AND REITERATES ITS FRACTIONAL LAND POSITION - More
- December 15, 2010 | Item | ShareThis
Augen Gold to Joint Venture With Sanatana - More
- December 15, 2010 | Item | ShareThis
Energy Fuels Stock Options Exercised by Former Magnum Uranium Shareholders - More
- December 15, 2010 | Item | ShareThis
Rockgate Unaware of Any Material Changes - More
- December 15, 2010 | Item | ShareThis
Construction and Industry Project Management Veteran to Join USEC Board - More
- December 15, 2010 | Item | ShareThis
Claim Post Resources Completes Second Tranche of Financing - More
- December 15, 2010 | Item | ShareThis
Yinfu Gold Announces Stock Purchase by CEO - More
- December 15, 2010 | Item | ShareThis
Romarco Appoints Barclays Capital as Financial Adviser for Haile - More
- December 15, 2010 | Item | ShareThis
Great Western Minerals Group Delivers Offer to Purchase All Rareco Shares; Rareco Board Recommends Acceptance - More
- December 15, 2010 | Item | ShareThis
Soldi Ventures Inc. Completes Airborne Survey Over its Entire Land Package in the Rainy River-Cameron Lake Area - More
- December 15, 2010 | Item | ShareThis
Pure Nickel Plans Live Web cast to Announce MAN Results - More
- December 15, 2010 | Item | ShareThis
RJK OPTIONS ADDITIONAL BLACKWATER GOLD DISTRICT CLAIM GROUP, EAST BLACKWATER GOLD, ADJOINING RICHFIELD'S PROPERTY - More
- December 15, 2010 | Item | ShareThis
Rogue Resources Purchases Exploration Complex for Ontario Operations - More
- December 15, 2010 | Item | ShareThis
Ventana Discovers New Silver Zone and Potential Significant Extension to the Las Mercedes Zone - More
- December 15, 2010 | Item | ShareThis
Champion Minerals Completes Assessment of Historic Work on 14 Claim Blocks of its Fermont Iron Property - More
- December 15, 2010 | Item | ShareThis
New Guinea Gold Appoints New Chairman - More
- December 15, 2010 | Item | ShareThis
NMC Resource Announces Regulatory Approval of Share Consolidation - More
- December 15, 2010 | Item | ShareThis
Yale Drills 11.50 m Of 2.09 g/t Gold and 382.7 g/t Silver at Guadalupe - More
- December 15, 2010 | Item | ShareThis
Silvore Fox Minerals Announces Management Changes - More
- December 15, 2010 | Item | ShareThis
Eagle Hill Intersects Near Surface, High Grade Gold at Windfall Lake Including 18.82 g/t Over 9.90 Meters and 53.64 g/t Over 4.55 Meters - More
- December 15, 2010 | Item | ShareThis
AURYX GOLD DRILLS 10m of 6.19 g/t Au AND DISCOVERS A NEW SHOOT AT THE OTJIKOTO GOLD PROJECT IN NAMIBIA - More
- December 15, 2010 | Item | ShareThis
Miranda Gold Stakes Claims in South Pequop Mountains - More
- December 15, 2010 | Item | ShareThis
Golden Share Samples up to 37.71 g/t Gold on Berens River, Ontario, Canada - More
- December 15, 2010 | Item | ShareThis
Additional Gold Results from OJVG's Resource Expansion Drilling Program - More
- December 15, 2010 | Item | ShareThis
GITENNES EQUITY FINANCING - More
- December 15, 2010 | Item | ShareThis
Riverstone Extends Depth of Kao Deposit at Karma - More
- December 15, 2010 | Item | ShareThis
Amarillo Gold Corp.-Exploration Update for Lavras do Sul Project: New Matilde Prospect Discovered From Soil Sampling; Cerro Rico Grab Sample Yields 15.6 g/t Au - More
- December 15, 2010 | Item | ShareThis
La Quinta Resources Announces Trenching Program at Easter Project - More
- December 15, 2010 | Item | ShareThis
North Atlantic Proposes Name Change to Legend Gold Corp. - More
- December 15, 2010 | Item | ShareThis
Robex Resources Inc./Nampala: The North Extension of the Gold-Bearing Deposit is Confirmed With Concentrations Such as 2.16 g/t Over 5 Meters and 0.92 g/t - More
- December 15, 2010 | Item | ShareThis
Quaterra Announces Significant Increase in Resource at MacArthur Copper Deposit - More
- December 15, 2010 | Item | ShareThis
Western Lithium to Purchase Royalties and Mineral Property Titles From Western Uranium - More
- December 15, 2010 | Item | ShareThis
United Reef Appoints New Director - More
- December 15, 2010 | Item | ShareThis
Inmet Mining Closes Leucadia Transaction Consolidating Ownership of Cobre Las Cruces - More
- December 15, 2010 | Item | ShareThis
Gold American Mining Corp. Strikes Outstanding Drilling Results at Guadalupe - More
- December 15, 2010 | Item | ShareThis
ZIMTU CAPITAL CORP. OPTIONS PACKAGE OF SEVEN RARE METAL PROJECTS IN SOUTHERN BRITISH COLUMBIA TO FIRST GOLD EXPLORATION - More
- December 15, 2010 | Item | ShareThis
Sandspring Drill Results From Holes TPD105-TPD116 Includes 157.5m of 1.0g/t Gold and 0.05% Copper Along Strike From Toroparu Gold-Copper Deposit - More
- December 15, 2010 | Item | ShareThis
Argentex: Silver dominates 2010-2011 exploration program at Pinguino, Santa Cruz, Argentina - More
- December 15, 2010 | Item | ShareThis
Kalahari Acquires Key Claims Adjacent to Lamaque Property - More
- December 15, 2010 | Item | ShareThis
EurOmax Set to Accelerate Advanced Projects in 2011 - More
- December 15, 2010 | Item | ShareThis
Pershimco Confirms Significant Copper Intersections Under the La Pava Oxyde Cap. - More
- December 15, 2010 | Item | ShareThis
Drilling Planned on 11 of Columbus Gold's Nevada Projects in 2011 - More
- December 15, 2010 | Item | ShareThis
First Gold Exploration Inc. Acquires Package of Seven Rare Metal Projects in Southern British Columbia - More
- December 15, 2010 | Item | ShareThis
Platinum Group Metals Approves $100 Million Construction Budget and Awards EPCM Contract-WBJV Project 1 Platinum Mine - More
- December 15, 2010 | Item | ShareThis
Vena Intersects High Grade Zinc & Manganese Mineralization at Azulcocha Mine - More
- December 15, 2010 | Item | ShareThis
NQ Exploration Inc.: Signature of an Investor Relations Agreement - More
- December 15, 2010 | Item | ShareThis
ATAC Resources Ltd. Intersects 32.64 Metres of 8.91 g/t Gold at the Tiger Zone-Rau Gold Project-Yukon - More
- December 15, 2010 | Item | ShareThis
Gold Canyon Intercepts 353 Meters at 1.17 Grams per Tonne Gold at Springpole Gold Project - More
- December 15, 2010 | Item | ShareThis
Trueclaim Exploration Inc. to Appear on Today in America - More
- December 15, 2010 | Item | ShareThis
Uranium One Enters into Option Agreement to Acquire Mantra Resources from ARMZ - More
- December 15, 2010 | Item | ShareThis
Mazorro Announces Option Agreement With Adventure Gold for Lapaska, QC Property and Private Placement for Maximum Proceeds of $250,000 - More
- December 15, 2010 | Item | ShareThis
Adventure Gold Options Its Val d'Or East Lapaska Property to Mazorro Resources - More
- December 15, 2010 | Item | ShareThis
Cortez Completes Phase I Drill Program on the Petlacala Gold-Silver Project, Mexico - More
- December 15, 2010 | Item | ShareThis
Intrepid Mines Added To S&P / TSX Global Gold Index - More
- December 15, 2010 | Item | ShareThis
MAWSON CHANNELS 0.95 METRES (at) 1,424 g/t GOLD AND 1.3 % URANIUM AND GRAB SAMPLES ASSAY UP TO 22,723 g/t GOLD AT ROMPAS IN FINLAND - More
- December 15, 2010 | Item | ShareThis
TASMAN RECEIVES DRILLING PERMIT FOR PHASE THREE PROGRAM AT NORRA KARR HEAVY RARE EARTH ELEMENT PROJECT - More
- December 15, 2010 | Item | ShareThis
Peregrine Metals Commences Field Operations and Advances Preliminary Economic Assessment at Altar Copper-Gold Porphyry in Argentina - More
- December 15, 2010 | Item | ShareThis
Balmoral Signs 13,000 Metre Drill Contract; Drilling at Fenelon and Martiniere to Commence Early January, 2011 - More
- December 15, 2010 | Item | ShareThis
Cerro Resources Announces AUD$3,850,000 Private Placement - More
- December 15, 2010 | Item | ShareThis
Advanced Explorations Engages EBA Engineering to Support Roche Bay Mine Permitting Process - More
- December 15, 2010 | Item | ShareThis
Astur Gold Corporation: CEO's Year End 2010 Letter to Shareholders - More
- December 15, 2010 | Item | ShareThis
Romios Closes $600,000 Financing - More
- December 15, 2010 | Item | ShareThis
Pelangio Exploration Intersects 1.11 g/t Gold Over 43 Metres at Nfante West on the Manfo Property - More
- December 15, 2010 | Item | ShareThis
KGHM Ajax and Abacus Reach Advanced Exploration Agreement With Stk'emlupsemc te Secwepemc for Ajax Project - More
- December 15, 2010 | Item | ShareThis
Estrella Gold Appoints Stan Myers as Vice President for Exploration - More
- December 15, 2010 | Item | ShareThis
GMV MINERALS INC. ANNOUNCES YEAR END UPDATE - More
- December 15, 2010 | Item | ShareThis
American Energy Fields, Inc. Enters Option Agreement to Purchase Prospect Uranium, Inc. - More
- December 15, 2010 | Item | ShareThis
Mandalay Resources Corporation Repays $1.5 Million Promissory Note - More
- December 15, 2010 | Item | ShareThis
Serengeti Principals Awarded BC Prospector of the Year for Kwanika Discovery - More
- December 15, 2010 | Item | ShareThis
Ivernia Appoints D'Arcy Doherty as Vice President, Legal & General Counsel - More
- December 15, 2010 | Item | ShareThis
Daulton Capital's Property Located in White Gold District of Yukon, Gathering Interest as Gold Climbs Past $1400 an Ounce - More
- December 15, 2010 | Item | ShareThis
Encore Renaissance Announces Acceptance of 75% Interest in Bonaparte Gold Property - More
- December 15, 2010 | Item | ShareThis
Brookemont Receives Final Approval on "Handeni North" Prospect Bordering Canaco Resources Inc. in Tanzania - More
- December 15, 2010 | Item | ShareThis
Bellhaven Commences Ground Geophysical Surveys at the La Mina Porphyry Gold-(Copper) Project, Colombia - More
- December 15, 2010 | Item | ShareThis
Metalline Reports on Eastern Extension of Area A Silver ( +Zinc +Lead) Resource Area at the Sierra Mojada Project, Coahuila, Mexico - "Metalline Mining Company (Amex:MMG - News) is pleased to announce further results from the evaluation of earlier drilling programs at the shallow silver-zinc resource area ("Area A") at the Sierra Mojada Project located in Coahuila, Mexico. Results reported below are at a 30 gpt Ag or 1% Zn external cut-off." More
- December 15, 2010 | Item | ShareThis
Exeter Reports on Development Studies at the Caspiche Gold-Copper Project, Chile - "On November 22, 2010 Exeter announced the appointment of Aker Solutions ("Aker") of Santiago, Chile to carry out two pre-feasibility studies for its Caspiche gold-copper project. The first study will consider a stand-alone "oxide gold" project to mine the upper part of the deposit and is scheduled to be available in early Q2-2011. The second study, to be run concurrently with the oxide study, will consider mining both the oxide and sulphide deposits. That study is scheduled to be available in Q3-2011." More
- December 15, 2010 | Item | ShareThis
Fortuna Discovers New High-Grade Ag Ore Shoots at Caylloma Mine - "Fortuna Silver Mines Inc. (TSX:FVI.to - News) Mr. Jorge Ganoza, President & CEO, is pleased to announce the discovery and confirmation of two new high-grade silver ore shoots in the Bateas Vein, located in the central portion of the Caylloma Mine District." More
- December 15, 2010 | Item | ShareThis
Silvercorp Intercepts 2.51 Metres of 22.4 Ounces Per Tonne Silver, 12.96% Lead and 14.48% Zinc at the Silvertip Project, Northern BC, Canada - "Silvercorp Metals Inc. (TSX:SVM - News)(NYSE:SVM - News) ("Silvercorp" or the "Company") is pleased to provide the drilling results from the 2010 drill program on the Silvertip silver-zinc-lead (Ag-Zn-Pb) project in Northern British Columbia, Canada. This drill program focused on extensions to the east and south of the main ore body where 21 historic drill holes yielded significant silver, lead and zinc. The Resource Estimate completed in March, 2010 did not include results from these historic holes due to their wide spacing. The 2010 Drill program was successful defining and upgrading the silver-lead-zinc resources to ensure they will be included in and will increase the new resource estimate which is currently underway." More
- December 15, 2010 | Item | ShareThis
Rubicon Minerals Exploration Team Awarded the AME-BC, Colin Spence Award for Excellence in Global Mineral Exploration - "Rubicon Minerals Corporation (RMX:TSX | RBY:NYSE-AMEX) ("Rubicon") is pleased to announce that its Phoenix Gold Project exploration team, led by CEO, David Adamson has been awarded The Association for Mineral Exploration, British Columbia (AME-BC), 2010 Colin Spence Award. This prestigious honour is given for their role in the discovery and development of the F2 Gold Deposit in Red Lake, Ontario. The team consists of: David Adamson, President and CEO, Matthew Wunder, VP-Exploration, Ian Russell, Terry Bursey and Crystal McCullough." More
- December 15, 2010 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 15 December, 2010 | |
