-- Posted 16 December, 2010 | | Source: SilverSeek.com

The Metals:

Gold remained near unchanged in Asia and London before it fell almost 2% in early New York trade to as low as $1361.07 by about 10AM EST, but it then rallied back higher in the last few hours of trade and ended with a loss of just 1.08%.  Silver fell to as low as $28.322 before it also rallied back higher, but it still ended with a loss of 1.47%.

Euro gold fell to about €1037, platinum lost $2.25 to $1695, and copper fell a couple of cents to about $4.11.

Gold and silver equities fell about 2% by midmorning and remained near that level for the rest of the day.

The Economy:

Tomorrow at 10AM EST brings Leading Economic Indicators for November expected at 1.2%.

The Markets:

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

Oil fell on expectations for rising supplies in the coming weeks after yesterday’s big draw was attributed to tax related moves.

The U.S. dollar index fell slightly and treasuries turned higher late in the day in quiet trade.

The Dow, Nasdaq, and S&P traded mostly modestly higher on stronger than expected economic data.

Among the big names making news in the market today were BP, Swift Transportation, General Mills, and FedEx.

GATA Posts:

Nepal's precious metals traders say silver shortage is worst

CFTC toughens commodity limits but relents on some rules

Alasdair Macleod: Are the central banks running a fractional gold system?

The Statistics:

Activity from: 12/15/2010

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

 Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.607 tonnes.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 116.63 - No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,964.14 - No change from yesterday’s data.

The Miners:

Gammon’s (GRS) Letter of Intent with Aurion, Aurizon’s (AZK) drill results and option agreement with Midland Exploration, Richmont’s (RIC) drill results, Claude’s (CGR) drill results, New Gold’s (NGD) closed credit facility, Fronteer’s (FRG) optioned properties, Alexco’s (AXU) drill results, and Silvercorp’s (SVM) mining permit 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:

Minera Andes Announces Updated Preliminary Assessment for Its Los Azules Copper Deposit - More
- December 16, 2010 | Item | ShareThis

Honey Badger Exploration to Issue Shares to Debt Settlement - More
- December 16, 2010 | Item | ShareThis

Matamec Has Completed a Private Placement of CAD $5,750,000 - More
- December 16, 2010 | Item | ShareThis

First Quantum Minerals Completes Acquisition of Antares Minerals - More
- December 16, 2010 | Item | ShareThis

VMS Ventures Reports Mineralization at 30 Metres From Surface in Zone 30 (Zinc-Copper Lens), Including 15.7m of 6.57% Zinc, From Initial In-Fill Drilling - More
- December 16, 2010 | Item | ShareThis

Ditem Explorations: $312,000 Flow-Through Private Placement - More
- December 16, 2010 | Item | ShareThis

Duncastle Announces Porphyry Copper-Molybdenum Discovery and Stakes Additional Claims - More
- December 16, 2010 | Item | ShareThis

Golden Valley Mines Ltd./Update: Abitibi Grassroots Drill Program and Sierra Leone, West Africa - More
- December 16, 2010 | Item | ShareThis

Formation's Stimulus Act Recovery Zone Bond Allocation Increased to US $77.7 Million by State of Idaho - More
- December 16, 2010 | Item | ShareThis

Cascadero Copper Corporation Announces 3,000,000 Unit Non-Brokered Flow-Though Private Placement - More
- December 16, 2010 | Item | ShareThis

Strategic Metals Announces Hopper Property Option Agreement and Updates on Wolverine and Silver Predator Transactions - More
- December 16, 2010 | Item | ShareThis

Coastal Pacific Undertakes Site Visit and Fulfills Second Obligation on the Santa Rita Property - More
- December 16, 2010 | Item | ShareThis

VVC Exploration Acquires Additional Concessions Adjoining Cumeral Gold Property - More
- December 16, 2010 | Item | ShareThis

Aurion Options La Bandera to Gammon Gold - More
- December 16, 2010 | Item | ShareThis

Adventure Gold Starts Drilling the Past Producing L.C. Beliveau Mine in Val d'Or East - Pascalis-Colombiere Property - More
- December 16, 2010 | Item | ShareThis

Portage & Freewest JV Release Final Drill Results from Golden Ridge, New Brunswick; Gold System Remains Open for Expansion - More
- December 16, 2010 | Item | ShareThis

Threegold Retains Business Advisors and Appoints Victor Goncalves to the Board of Directors - More
- December 16, 2010 | Item | ShareThis

Mexus Gold U.S. Announces Operating Equipment Arrives at Ocho Hermanos Mine in Hermosillo, Mexico - More
- December 16, 2010 | Item | ShareThis

Marathon Gold Corporation and New Jersey Mining Company Announce Formation of Golden Chest LLC - More
- December 16, 2010 | Item | ShareThis

Kalahari Adds Second Drill to 8000 Meter Drill Program on Lamaque Gold Project - More
- December 16, 2010 | Item | ShareThis

ICN Enters Into Agreement With Lode-Star Gold on the Goldfield Bonanza Project - More
- December 16, 2010 | Item | ShareThis

Kenai Resources Ltd.: Encouraging Results From Sao Chico Gold Project New Gold Bearing Veins Discovered - More
- December 16, 2010 | Item | ShareThis

Rio Cristal Announces Positive Drill Intercepts at Its Condor Gold Project - More
- December 16, 2010 | Item | ShareThis

Aurion Options La Bandera to Gammon Gold - More
- December 16, 2010 | Item | ShareThis

Pelangio Exploration Grants Options - More
- December 16, 2010 | Item | ShareThis

Assays of Channel Samples Confirm Surface Silver Mineralization at the El Tigre Property, Sonora, Mexico - More
- December 16, 2010 | Item | ShareThis

MAX drills 9.1 metres of 1.092 g/t gold at Table Top in Nevada; additional assays pending - More
- December 16, 2010 | Item | ShareThis

Starcore Reports First Quarter of 2011 - More
- December 16, 2010 | Item | ShareThis

Altius Signs Exploration Alliance With Cliffs Natural Resources Exploration Inc.: Ferro Alloys Being Targeted in Newfoundland - More
- December 16, 2010 | Item | ShareThis

Maya to Test New Geological Model on Its Amizmiz Property in Morocco - More
- December 16, 2010 | Item | ShareThis

Bison Gold Resources Inc. First Hole Completed on Central Manitoba Property - More
- December 16, 2010 | Item | ShareThis

Riva Announces Up to $10.5 Million Private Placement - More
- December 16, 2010 | Item | ShareThis

Greystar Hits 189.5 g/t Gold and 701 g/t Silver Over 1.5 Metres at Cristo Rey - More
- December 16, 2010 | Item | ShareThis

Strait Gold Closes $1.89-Million Financing - More
- December 16, 2010 | Item | ShareThis

Valley High Ventures-Cordero Project Update - More
- December 16, 2010 | Item | ShareThis

Laurentian Goldfields Ltd. Stakes Porphyry-Related Gold Mineralization in the Abitibi Subprovince, Quebec - More
- December 16, 2010 | Item | ShareThis

Williams Creek Announces Profit for its Quarter Ending October 31, 2010 - More
- December 16, 2010 | Item | ShareThis

CB Gold Inc. Provides A Summary of Exploration Results from September 2009 to Date - More
- December 16, 2010 | Item | ShareThis

Puma Exploration Welcomes Sprott Asset Management as a Shareholder - More
- December 16, 2010 | Item | ShareThis

Pediment and Argonaut Announce New Meeting Dates - More
- December 16, 2010 | Item | ShareThis

Garibaldi Exploration Developments - More
- December 16, 2010 | Item | ShareThis

Geo Minerals Expands West Blackwater Property - More
- December 16, 2010 | Item | ShareThis

Midland Exploration Options Its Patris Gold Project to Aurizon Mines - More
- December 16, 2010 | Item | ShareThis

Razor Resources Inc. Announces Increase In Gold Production From Company's Clavo Rico Mine To 1,000 oz A Month - More
- December 16, 2010 | Item | ShareThis

Soltoro Contracts Scott Wilson Roscoe Postle Associates Inc. to Provide a Revised Resource Estimate for El Rayo Silver Project - More
- December 16, 2010 | Item | ShareThis

Laurion Completes 2010 Drill Program at Bell Mountain, Engages Telesto Nevada to Prepare NI 43-101 Resource Estimate - More
- December 16, 2010 | Item | ShareThis

Bravada Adds Colorback Property to its Granite Mountain Project - More
- December 16, 2010 | Item | ShareThis

Alto Ventures Ltd.: Diamond Drilling Program Commences on Destiny Gold Project, Quebec - More
- December 16, 2010 | Item | ShareThis

Nautilus Minerals Intersects More High Grades at Depth - More
- December 16, 2010 | Item | ShareThis

Gammon Gold Announces the Strategic Option of the La Bandera Project Located in Durango Mexico - "Gammon Gold Inc. ("Gammon") (TSX:GAM.to - News): Gammon is pleased to announce that the Company has entered into binding Letter of Intent ("LOI") with Aurion Resources Ltd. wherein both parties agree to negotiate a definitive agreement that will provide Gammon with an option to earn up to a 70% joint venture interest in the 12,985 hectare La Bandera Project located in Durango, Mexico. Under the terms defined in the Letter of Intent, Gammon will have the option to earn its interest through a $250,000 private placement in Aurion and a series of escalating work commitments." More
- December 16, 2010 | Item | ShareThis

Uranium Energy Corp Added to S&P/TSX Global Mining Index - More
- December 16, 2010 | Item | ShareThis

Creso Continues Exploration Drilling at the Shining Tree Project - More
- December 16, 2010 | Item | ShareThis

East Asia Deepens EMD024 and Reports 6.59 g/t Gold Over 60 Metres, Within 2.55 g/t Gold Over 201 Metres; Scout Drilling at Sipopok Hits Miwah-Type Horizon - More
- December 16, 2010 | Item | ShareThis

NV Gold Receives Strong Gold Results from Afgan Drilling on Cortez Trend - More
- December 16, 2010 | Item | ShareThis

Crosshair Delivers Significant Growth to Vanadium Resource - More
- December 16, 2010 | Item | ShareThis

Quest Rare Minerals Appoints Ernst & Young LLP as Auditors - More
- December 16, 2010 | Item | ShareThis

Avion Intersects Additional High Grade Gold Mineralization at Tabakoto Project - More
- December 16, 2010 | Item | ShareThis

Heatherdale Earns 51% Interest in Niblack Project; Confirms Election to Spend $10Million - More
- December 16, 2010 | Item | ShareThis

Nautilus Appoints Vice President Investor Relations and Communications - More
- December 16, 2010 | Item | ShareThis

East Asia Minerals Appoints Alex Granger as VP Business Development - More
- December 16, 2010 | Item | ShareThis

DMC Mining Services Signs Potash Project Contract - More
- December 16, 2010 | Item | ShareThis

Lago Dourado Discovers Major Gold-In-Soil Anomaly More Than 4km Long Directly South Of Existing Workings - More
- December 16, 2010 | Item | ShareThis

Kivalliq Energy Corporation: 2010 Prospecting Program at Angilak Identifies 9 High Priority Target Areas; Assay Highlights Include Multiple Grab Samples - More
- December 16, 2010 | Item | ShareThis

Geologix Explorations Inc.: Tepal Drilling Identifies Significant New Gold and Copper Zone - More
- December 16, 2010 | Item | ShareThis

Otis Drills 87.8 Metres of 1.26 g/t Au Including 32.0 Metres of 3.46 g/t Au at Kilgore - More
- December 16, 2010 | Item | ShareThis

Benton Sells Bermuda Property to Stillwater Mining for $14 Million - More
- December 16, 2010 | Item | ShareThis

Rockcliff Closes on a Further $1.7 Million of Offering Major Drill Program Planned at Snow Lake - More
- December 16, 2010 | Item | ShareThis

Yankee Hat Winter 2010 Drilling Update - More
- December 16, 2010 | Item | ShareThis

Stillwater Mining to Acquire Exploration Property and Royalty Interest From Benton Resources Corp. - More
- December 16, 2010 | Item | ShareThis

Evolving Gold Intersects 251 meters at 1.5 gpt Gold at Rattlesnake, Including 38 meters at 3.18 gpt Gold - More
- December 16, 2010 | Item | ShareThis

West Kirkland Mining & Fronteer Gold Sign Option on 11 Fronteer Projects - More
- December 16, 2010 | Item | ShareThis

Sulliden Announces Accelerated Expiry of Warrants for Possible Proceeds of Over $22 Million - More
- December 16, 2010 | Item | ShareThis

Typhoon Exploration Inc Confirms a New High Grade Lens of 5.08 g/t Au Over 10.50 Metres at Fayolle - More
- December 16, 2010 | Item | ShareThis

Pitchstone Finalizes Uranium Drilling Plans - More
- December 16, 2010 | Item | ShareThis

Largo Provides Update on Status on Joint Venture Agreement With Vinci Partners - More
- December 16, 2010 | Item | ShareThis

Teranga Gold Corporation: Company Announces the Commencement of a Diamond Drilling Program at Tourokhoto-The First of Its 39 Drill Targets - More
- December 16, 2010 | Item | ShareThis

General Metals Announces Record Date for Forward Split - More
- December 16, 2010 | Item | ShareThis

United Mines, Inc. Signs Letter of Intent with a Major Chinese Investment Group - More
- December 16, 2010 | Item | ShareThis

Greenland Backs the Kvanefjeld Rare-Earth Uranium Project With a Green Light to Advance - More
- December 16, 2010 | Item | ShareThis

Major Blocks Totalling 504 Km2 Optioned Near Canaco - More
- December 16, 2010 | Item | ShareThis

Phase Two Drilling Targets Expansion Of High Grade Gold Zone, Eastern Extension Property, Quebec - More
- December 16, 2010 | Item | ShareThis

MANDATE FOR US$300 MILLION HELLAS GOLD DEBT FINANCING SIGNED - More
- December 16, 2010 | Item | ShareThis

Orosur Mining Inc.: Issue of Ordinary Shares upon Exercise of Stock Options - More
- December 16, 2010 | Item | ShareThis

Aurizon Options Midland Exploration's Patris Gold Property - "Aurizon Mines Ltd. (TSX:ARZ.to - News) ("Aurizon") is pleased to announce the signing of an option agreement with Midland Exploration Inc. ("Midland") (TSX-V:MD.v - News) on the Patris gold property, currently held 100% by Midland. The property, which comprises 50 claims covering a surface area of 22 square kilometres, is located in La Pause and Clericy townships, 30 kilometres northeast of Rouyn-Noranda, and 7 kilometres from Aurizon's Joanna project, in the Abitibi region of Quebec." More
- December 16, 2010 | Item | ShareThis

Richmont Mines Inc.: Updated Cripple Creek Drill Results Confirm Presence of Gold Mineralization; 3,500 Metre Winter Drilling Campaign Planned for 2011 - "Richmont Mines Inc. (TSX:RIC - News)(AMEX:RIC - News)("Richmont" or the "Company") is pleased to announce complete results from the second phase of its 2010 surface drilling campaign at its Cripple Creek property, located west of the Timmins Gold Camp in Ontario." More
- December 16, 2010 | Item | ShareThis

Alexco Confirms Extension of Lucky Queen Silver Deposit - "Alexco Resource Corp. (TSX:AXR - News)(AMEX:AXU - News) ("Alexco" or the "Company") is pleased to announce additional results from the 2010 surface core drilling program at its Lucky Queen property in the Keno Hill silver district, Yukon Territory. Building on Alexco's previous work, the 2010 exploration drilling, which was designed to confirm the continuity of high grade mineralized zones down plunge of the historical Lucky Queen mine, has continued to intersect silver-rich, locally native silver-bearing mineralization. The historical Lucky Queen mine was the highest grade silver producer in the Keno Hill district, producing approximately 11 million ounces of silver at an average grade of approximately 89 ounces per ton silver. Drilling in 2010 has confirmed the presence and continuity of high grade sulfide, sulfosalt and native silver zones of variable thickness, below and southwest of the historical workings. The mineralized zone remains open down plunge." More
- December 16, 2010 | Item | ShareThis

Claude Resources Continues to Expand THE AMISK GOLD Deposit, Saskatchewan - "Claude Resources Inc. (TSX-CRJ; NYSE Amex-CGR) ("Claude" or the "Company") is pleased to announce results from sampling in excess of 22,000 metres of drill core from a total of 278 historic drill holes on the 13,900 hectare Amisk Gold Property." More
- December 16, 2010 | Item | ShareThis

New Gold Announces Closing of $150 Million Undrawn Revolving Credit Facility - "New Gold Inc. ("New Gold") (TSX and NYSE AMEX:NGD) today announces that it has entered into an agreement with a syndicate of banks to establish a $150 million undrawn revolving credit facility further enhancing the company's financial flexibility. The facility, structured and arranged by Scotia Capital and Commonwealth Bank of Australia, has an initial term of three years, with annual extensions permitted, and provides New Gold with additional liquidity supplementing the company's already strong cash position. With the $58 million received from the December 1, 2010 sale of Beadell shares, the company has over $425 million of cash today." More
- December 16, 2010 | Item | ShareThis

Aurizon Announces Further Drill Results From the Fayolle Project - "Aurizon (TSX:ARZ.to - News) ("Aurizon" or "the Company") is pleased to announce a new series of drill results from the exploration program on the Fayolle project located 20 kilometres north-east of Rouyn-Noranda, Québec and 10 kilometres north of Aurizon's Joanna project. The current drill program is the first phase of a work program totalling $3.5 million to be spent by Aurizon under the joint venture agreement announced on May 18, 2010 with Typhoon Exploration Inc ("Typhoon"). The Fayolle property is 100% owned by Typhoon and Aurizon can earn a 50% interest, subject to an underlying 2% net smelter royalty, by incurring expenditures of $10 million, and subscribing for $2 million in common shares of Typhoon. Aurizon can earn an additional 15% interest for a total interest of 65% by either delivering a feasibility study or spending an additional $15 million on the project." More
- December 16, 2010 | Item | ShareThis

Fronteer Gold Options 11 Exploration Properties to West Kirkland Mining - "West Kirkland may earn an initial 51% interest in all of the properties by spending an aggregate $15.4 million in exploration and development over the next four years. Fronteer Gold will subscribe for 800,000 shares in West Kirkland, at $1.25 per share by way of a private placement, for total proceeds of $1 million. West Kirkland will use the funds to advance the portfolio." More
- December 16, 2010 | Item | ShareThis

Silvercorp Receives Mining Permit for GC Silver-Lead-Zinc Project, Guangdong Province, China - "Silvercorp Metals Inc. (TSX:SVM - News)(NYSE:SVM - News)("Silvercorp" or the "Company") is pleased to report that its GC silver-lead-zinc project in the Guangdong Province has received a mining permit issued by the Ministry of Land and Resources of China. The GC mining permit has a term of 30 years and covers the entire 5.52 square kilometer area of the GC Project. The permit was issued on the terms applied for, and allows for the operation of an underground mine to produce silver, lead and zinc ores." More
- December 16, 2010 | Item | ShareThis

- Chris Mullen, Gold Seeker Report

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