-- Posted 22 February, 2011 | | Source: SilverSeek.com
| Close | Gain/Loss |
Gold | $1400.00 | +$12.10 |
Silver | $32.87 | +$0.48 |
XAU | 209.25 | -1.51% |
HUI | 549.12 | -0.88% |
GDM | 1624.31 | -0.85% |
JSE Gold | 2813.30 | -46.89 |
USD | 77.81 | +0.16 |
Euro | 136.53 | -0.32 |
Yen | 120.85 | +0.51 |
Oil | $93.57 | +$7.37 |
10-Year | 3.461% | -0.128 |
T-Bond | 120.84375 | +1.625 |
Dow | 12212.79 | -1.44% |
Nasdaq | 2756.42 | -2.74% |
S&P | 1315.44 | -2.05% |
The Metals:
Gold climbed throughout most of trade on Monday and rose $23.25 to $1411.15 last night before it fell back to $1392.60 at around 5AM EST, but it then climbed back to as high as $1406.35 in New York today and ended with a gain of 0.87% from last Friday’s close. Silver surged $1.93 to a new 30-year high of $34.32 last night before it fell back to $32.383 at around 5AM EST, but it also climbed back higher in London and New York and ended with a gain of 1.48% from last Friday’s close.
Euro gold rose to about €1024, platinum lost $47 to $1783.00, and copper fell 13 cents to about $4.35.
Gold and silver equities saw over 1% gains at the open, but weakness in the overall stock market seemed to drag on the miners throughout the day and they ended with about 1% losses.
The Economy:
Report | For | Reading | Expected | Previous |
Case-Shiller 20-city Index | Dec | -2.38% | -2.4% | -1.62% |
Consumer Confidence | Feb | 70.4 | 67.0 | 64.8 |
Tomorrow at 10AM EST brings the Existing Home Sales for January expected at 5,230,000.
The Markets:
Charts Courtesy of http://finance.yahoo.com/
Oil soared higher on intensifying protests in Libya that increased worries over significant supply disruptions from OPEC producers.
The U.S. dollar index saw decent gains overnight, but it then fell back off in New York and ended only slightly higher after the euro pared its losses on “comments from a European official that raised prospects for an interest-rate hike by the European Central Bank. “
Treasuries remained higher after today’s $35 billion 2-year note auction sold at a high yield of 0.745% with a bid to cover of 3.03.
The Dow, Nasdaq, and S&P fell markedly on concerns about worsening unrest in Libya.
Among the big names making news in the market today were Forest Labs and Clinical Data, Barnes & Noble, Wal-Mart, BHP, BofA, Blockbuster, Home Depot, Mentor Graphics, Dynegy, Best Buy, and Macy’s.
The Commentary:
“Silver is getting caught up in the crosswinds impacting the commodity sector this morning as the hedgies are throwing away risk trades dumping nearly everything in sight with the exception of the energies.
I find it particularly amusing to note that the world is now going to give up eating because of the unrest in Libya and elsewhere around the middle East. That means corn needs to be sold, as does soybeans and wheat since no one is going to eat any longer because they are too busy watching TV for the next news report out of that region. That means bushel after bushel of corn, beans and wheat are now going to pile up on wharves, docks, ports and grain elevators and will undoubtedly rot. Corn priced at $7.00 could not ration demand so let's take it down to $6.80 and see if that will do the trick!
If you cannot understand this "logic", good for you, because you are still sane. End users in the grains are giddy with delight however as they have been hoping that the hedgies would start throwing away grain so that they could obtain coverage.
Gold and Silver are holding well considering the barrage of selling being generated by these mindless algorithms across the commodity complex.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/
GATA Posts:
GoldMoney's James Turk interviews GATA's secretary/treasurer
Zero Hedge notes GATA's partial victory over the Fed
The Statistics:
Activity from: 2/18/2011
Gold Warehouse Stocks: | 11,144,011 | -62,160 |
Silver Warehouse Stocks: | 102,357,909 | -16,370 |
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 | 1223.098 | 39,323,826 | US$55,079m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 115.64 | 3,717,765 | US$5,214m |
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 122.09 | 3,925,298 | US$5,505m |
Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 474,708 | US$639m |
Johannesburg Securities Exchange (JSE) | New Gold Debentures | 49.51 | 1,591,687 | US$2,183m |
NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,960 | US$7m |
Note: Change in Total Tonnes from yesterday’s data: SPDR subtracted 0.91 tonnes.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 115.73 - No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 10,519.05: +80.49 change from yesterday’s data.
The Miners:
Keegan’s (KGN) land purchase, Ivanhoe’s (IVN) increase in Indicated Mineral Resources, Richmont’s (RIC) fourth quarter and year end results, Nevsun’s (NSU) commercial production, Gammon’s (GRS) update on recent developments at the Company's El Cubo mine, Gold Resources’ (GORO) drill results, Taseko’s (TGB) revised project description, Goldcorp’s (GG) agreement, Excellon’s (EXN.TO) production and exploration updates, and Golden Tag’s (GCU.V) and ECU Silver’s (ECU.TO) drilling program were among the big stories in the gold and silver mining industry making headlines today.
WINNERS
1. Gold Resource | GORO+5.56% $26.00 |
2. Taseko | TGB +4.10% $6.215 |
3. Great Panther | GPL +3.91% $3.19 |
LOSERS
1. Solitario | XPL -13.81% $3.62 |
2. Nevsun | NSU -9.87% $5.66 |
3. Northern Dynasty | NAK -7.90% $18.08 |
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:
Sanatana Grants and Cancels Stock Options - More
- February 22, 2011 | Item | ShareThis
Golconda Appoints New President - More
- February 22, 2011 | Item | ShareThis
Robex Raises $2,231,040 in a Private Placement - More
- February 22, 2011 | Item | ShareThis
Great Quest Receives Escrowed Shares - More
- February 22, 2011 | Item | ShareThis
Stellar Pacific Ventures Inc. Grants 500,000 Stock Options - More
- February 22, 2011 | Item | ShareThis
Duncastle Updates Projects, Plans 2011 - More
- February 22, 2011 | Item | ShareThis
Canamex Confirms Bruner Potential - More
- February 22, 2011 | Item | ShareThis
Antioquia Gold Commences 2011 Drilling Program at Cisneros in Colombia - More
- February 22, 2011 | Item | ShareThis
Sienna Gold Announces Warrant Expiry Acceleration - More
- February 22, 2011 | Item | ShareThis
Amseco Starts First Diamond Drilling Program on the Lac Rouleau Property Located in The Barry-Urban Area of Quebec - More
- February 22, 2011 | Item | ShareThis
Khan Resources Inc.: Second Arbitrator Appointed in International Arbitration Action - More
- February 22, 2011 | Item | ShareThis
Golden Predator Commences 2011 Yukon Drill Program - More
- February 22, 2011 | Item | ShareThis
Nebu Acquires Rights to Extensive Property Position in Trelawney and Augen Gold District - More
- February 22, 2011 | Item | ShareThis
Diadem Announces the Probe Results of Drill Program-Parry Peninsula, Northwest Territories on the Parry Peninsula Project - More
- February 22, 2011 | Item | ShareThis
Yale Finalizes Option for the Carol Property, Sonora State - More
- February 22, 2011 | Item | ShareThis
Redhawk Announces 60,000 Foot Drill Program and Provides Operational Update - More
- February 22, 2011 | Item | ShareThis
Avala Resources Announces 2011 Exploration Program: Aggressive Focus on the Emerging Sediment-Hosted Gold Belt With 80,000 Meter Drill Program - More
- February 22, 2011 | Item | ShareThis
Strategic Metals Announces Midas Touch Project Update - More
- February 22, 2011 | Item | ShareThis
Mountain Boy Minerals Ltd.: Mineral Claims Acquired Around the Historic Dunwell Mine Workings - More
- February 22, 2011 | Item | ShareThis
Nortec Minerals Corp.: LK Project Confirmed as a Large Tonnage NI 43-101 Compliant PGE-Gold-Copper-Nickel Resource - More
- February 22, 2011 | Item | ShareThis
United Mining Group Announces Changes To The Board - More
- February 22, 2011 | Item | ShareThis
Hinterland Stakes TM Property in White Gold Area of Yukon - More
- February 22, 2011 | Item | ShareThis
Vior Inc.: Signing of an Agreement With Northern Abitibi Mining Corporation - More
- February 22, 2011 | Item | ShareThis
Dia Bras Reports Fourth Quarter and Full Year 2010 Volumes - More
- February 22, 2011 | Item | ShareThis
Critical Elements Corporation Acquires Eight Rare Earth and Tantalum-Niobium Projects - More
- February 22, 2011 | Item | ShareThis
Papuan Precious Metals Corp.: Sampling at New Hanover Trenches Yield 39m Grading 3.89 g/t Au Including 3m of 31.64 g/t - More
- February 22, 2011 | Item | ShareThis
ValGold Reports Further Infill Drill Results at Garrison Gold Project, Ontario - More
- February 22, 2011 | Item | ShareThis
Quantum Announces Results of Sampling Program at Elk Creek Niobium / Rare Earth Project - More
- February 22, 2011 | Item | ShareThis
Paladin Energy Ltd-Kayelekera Mine Production Resumes - More
- February 22, 2011 | Item | ShareThis
Northern Gold Hits 58 Meters of 1.08 g/t Gold Including 2 Meters of 13.07 g/t, Plus 18 Meters of 2.08 g/t Including 1.0 Meter of 13.27 g/t - More
- February 22, 2011 | Item | ShareThis
Rockridge Capital Discovers Over 8 Kilometres of Additional Gold in Soil Anomalies at Fatou Gold Project in Mali, West Africa - More
- February 22, 2011 | Item | ShareThis
Lara Exploration Ltd.: Corporate Update - More
- February 22, 2011 | Item | ShareThis
2.15 Meters Averaging 24.45 g/t Au in Drilling at Ketza River, Yukon and Flow Through Private Placement - More
- February 22, 2011 | Item | ShareThis
Aurum Signs Agreement for the Century Gold Project - More
- February 22, 2011 | Item | ShareThis
Earth Dragon Resources Notes Positive Outcome in Ghanaian JV Dispute - More
- February 22, 2011 | Item | ShareThis
Stillwater Mining Reports Highest Earnings in a Decade - More
- February 22, 2011 | Item | ShareThis
Innocent Inc. Enters Material Definitive Agreement with Steele Resources Inc. to Acquire 50% of the Mineral Hill Project - More
- February 22, 2011 | Item | ShareThis
Minera IRL Announces Scout Drilling Results, Pan de Azucar Prospect, Argentina - More
- February 22, 2011 | Item | ShareThis
Olympus Signs Refining Agreement With Vietnamese Firm - More
- February 22, 2011 | Item | ShareThis
Pretium Resources Inc.: Brucejack Bulk-Tonnage Resource Increases By 134%; Brucejack High-Grade Resource Outlined - More
- February 22, 2011 | Item | ShareThis
Mining Associates to Prepare Sinivit Strategy Report for Future Development of the Mine - More
- February 22, 2011 | Item | ShareThis
Arrowhead Business and Investment Decisions Publishes Due Diligence and Valuation Report Update on South Boulder Mines Limited (ASX: STB; FRA: SO3) - More
- February 22, 2011 | Item | ShareThis
Crazy Horse Averages 270m of 0.46% Cu, 0.25 gpt Au and 2.03 gpt Ag in Drill Hole CZT011 - More
- February 22, 2011 | Item | ShareThis
Frontline Gold Confirms 4 Gold Structures at Niaouleni and Intersects 21.56 g/t Au Over 3 Meters - More
- February 22, 2011 | Item | ShareThis
Glen Eagle has Commissioned Bumigene Inc. to Update the Pre-feasibility Study - More
- February 22, 2011 | Item | ShareThis
PBX Completes Airborne ZTEM Survey Over Copper-Gold Projects in Chile - More
- February 22, 2011 | Item | ShareThis
Redzone Resources Intercepts 0.81% Copper and 0.015% Molybdenum (0.90% CuEq) Over 108 Metres, Including 1.39% Copper and 0.012% Molybdenum (1.46% CuEq) Over 40 - More
- February 22, 2011 | Item | ShareThis
Adex Reports Remaining Drill Results at Mount Pleasant - More
- February 22, 2011 | Item | ShareThis
Northern Freegold Announces Updated NI 43-101 Resource Estimate for Nucleus, Freegold Mountain Yukon - More
- February 22, 2011 | Item | ShareThis
Sage Completes Second Instalment of St Andrew Option Agreement - More
- February 22, 2011 | Item | ShareThis
Nautilus Minerals Inc.: PNG Government Option - More
- February 22, 2011 | Item | ShareThis
Pinestar Gold Inc. Announces First Phase of Three to Delineate Gold and Silver Potential of Becker Property - More
- February 22, 2011 | Item | ShareThis
Blue Cove Capital Corp. Announces Update on Qualifying Transaction - More
- February 22, 2011 | Item | ShareThis
New Discovery by Extorre in Santa Cruz Province, Argentina - More
- February 22, 2011 | Item | ShareThis
Parlane Enters Into New Agreements to Acquire 100% Interest in the Mercedes Property - More
- February 22, 2011 | Item | ShareThis
Marifil Expands K-3 and K-4 Potash Properties - More
- February 22, 2011 | Item | ShareThis
Panoro Minerals Announces Appointment of Mr. David W. Huber as Chief Financial Officer - More
- February 22, 2011 | Item | ShareThis
Ecometals Announces Gold Exploration Update for Ecuador and Brazil - More
- February 22, 2011 | Item | ShareThis
Laurion Intersects Multiple Goldzones: Assay Report of 8.20 g/t Au Over 2.99 Metres at Sturgeon River Project, Beardmore, ON - More
- February 22, 2011 | Item | ShareThis
TintinaGold Mobilizes Two Additional Diamond-Drill Rigs to Its Sheep Creek Copper-Cobalt-Silver Property in Montana, USA - More
- February 22, 2011 | Item | ShareThis
Cameco Announces Next CEO - More
- February 22, 2011 | Item | ShareThis
Arco and Silex Ventures Close Qualifying Transaction - More
- February 22, 2011 | Item | ShareThis
Westridge Appoints Dr. Robert Baker as Director - More
- February 22, 2011 | Item | ShareThis
Asia Now's Beiya Project is Ranked as One of the Top 10 Prospects in China by the China Geological Survey - More
- February 22, 2011 | Item | ShareThis
Midland and Osisko Resume Drilling on the Dunn Property - More
- February 22, 2011 | Item | ShareThis
Argentum Silver Corp. to Commence Trading After Completing Qualifying Transaction - More
- February 22, 2011 | Item | ShareThis
Marifil Mines Ltd.: Exercise of Warrants and Options Brings $633,704 - More
- February 22, 2011 | Item | ShareThis
GTSO Negotiating LOI to Acquire Rare Earth Mine in Arizona - More
- February 22, 2011 | Item | ShareThis
Selwyn Signs Binding Agreement to Acquire ScoZinc Limited - More
- February 22, 2011 | Item | ShareThis
Malbex Reports 5 Metres at 48.34 g/t Gold Within 103 Metres Averaging 2.84 g/t Gold at Del Carmen Norte - More
- February 22, 2011 | Item | ShareThis
Brookmount Corporate Update - More
- February 22, 2011 | Item | ShareThis
Gryphon Gold Announces Extends Option to Fix NSR Royalty - More
- February 22, 2011 | Item | ShareThis
NGEx Drills 711 Metres 0.54% Copper and 0.26 Grams/Tonnes Gold at Los Helados, Chile - More
- February 22, 2011 | Item | ShareThis
Santa Fe Gold Reports Increasing Sales of Gold and Silver from Its Summit Mine, New Mexico - More
- February 22, 2011 | Item | ShareThis
Teuton Receives Drill Permit for High Property - More
- February 22, 2011 | Item | ShareThis
Fission Expands J Zone to 203m; Mineralization Extended at New PKB Discovery West of Highland - More
- February 22, 2011 | Item | ShareThis
Huakan Drills 5.50 Metres Grading 7.0 g/t Au, 57.02 g/t Ag, 1.70% Pb and 6.26% Zn at J&L - More
- February 22, 2011 | Item | ShareThis
Crocodile Gold Intersects 6.9 g/t Au Over 10 Metres Under Historic Prospect Open Pit Near Union Reefs Mill That Could Potentially Lead to Production in 2011 - More
- February 22, 2011 | Item | ShareThis
Galore Reports Significant Silver, Lead and Zinc Results From La Palma Drilling Program - More
- February 22, 2011 | Item | ShareThis
East Asia Minerals' Drilling on Track for NI43-101 Resource Estimate at Miwah; Completion Expected Late Q1 to Early Q2 - More
- February 22, 2011 | Item | ShareThis
North Bay Resources Inc. (NBRI): Ruby Gold Mine Plan of Operations Approved - More
- February 22, 2011 | Item | ShareThis
Klondex Receives Nevada State Approval for Fire Creek High-Grade Gold Underground Program - More
- February 22, 2011 | Item | ShareThis
First Liberty Power Corp. Completes Lithium Property Exploration Field Work - More
- February 22, 2011 | Item | ShareThis
Red Pine Exploration Announces Completion of Private Placement - More
- February 22, 2011 | Item | ShareThis
SIRIOS to Spin Off Subsidiary Into a Public Company - More
- February 22, 2011 | Item | ShareThis
Advanced Explorations Presenting at Numerous Industry Events - More
- February 22, 2011 | Item | ShareThis
Avion Confirms 2011 Production Forecast of 100,000 Ozs and Initiates 60,000 Metre Exploration Program - More
- February 22, 2011 | Item | ShareThis
Lara Intercepts 40 Metres with 1.39% Copper at the Lara Project in Peru - More
- February 22, 2011 | Item | ShareThis
Kiska Metals Corporation: Incentive Stock Options Granted - More
- February 22, 2011 | Item | ShareThis
Robex Resources Inc.: Opening of a Private Placement for up to $3,000,000 - More
- February 22, 2011 | Item | ShareThis
Batero Gold Grants Options - More
- February 22, 2011 | Item | ShareThis
Running Fox Resource Corp.: TSX-V Approves High Grade Gold Project-SEE DRILL TABLE BELOW - More
- February 22, 2011 | Item | ShareThis
Hudson Clarifies Continuous Disclosure Statements - More
- February 22, 2011 | Item | ShareThis
Explor Resources Inc.: Private Placement - More
- February 22, 2011 | Item | ShareThis
Explorator Resources Inc. Announces Private Placement - More
- February 22, 2011 | Item | ShareThis
Metanor Resources Inc. Announces the Closing of a Private Placement of $7,095,850 - More
- February 22, 2011 | Item | ShareThis
Highland Begins Ground Geophysical Survey on the Humboldt Bay Property in Preparation for Drilling in April - More
- February 22, 2011 | Item | ShareThis
Oro Mining Commences Sonic Drilling to Upgrade and Increase Taunus Gold Resource - More
- February 22, 2011 | Item | ShareThis
Caza Gold Stakes Eleven New Properties Covering Multiple Large Hydrothermal Alteration Zones Within the Central Nicaragua Gold Belt - More
- February 22, 2011 | Item | ShareThis
Intrepid Mines Appointment-Company Secretary - More
- February 22, 2011 | Item | ShareThis
Sunridge Gold Starts New Drill Program at Emba Derho Copper-Zinc-Gold Deposit, Asmara Project, Eritrea - More
- February 22, 2011 | Item | ShareThis
Kalimantan Gold Update on KSK Joint Venture Option - More
- February 22, 2011 | Item | ShareThis
Excellon Provides Production & Exploration Updates - "Excellon Resources Inc. (TSX:EXN - News) reports that production at the Platosa Mine continues to improve as a result of substantial progress in water inflow control. Water inflows occur when mining encounters water-filled faults. The Company began a more intensive grouting program in the late summer of 2010. An underground diamond drill remains dedicated to drilling 25- to 50-metre long sub-horizontal grout cover holes in advance of production and development headings to seal off these faults. The Company is acquiring additional pumps and has upgraded electrical infrastructure as it continues to enhance the Platosa water management program." More
- February 22, 2011 | Item | ShareThis
Keegan Acquires Additional Ground at the Esaase Gold Project and Provides Corporate Update - "Keegan Resources Inc. (TSX:KGN - News)(AMEX:KGN - News) ("Keegan") is pleased to announce that its fully owned subsidiary, Keegan Resources (Ghana) Ltd Keegan Resources Inc. has completed the purchase of the 10.4 square km Dawohodo prospecting concession from Dawohodo Marketing and Manufacturing Ltd, a private Ghanaian company in exchange for US$1.1 M. The Ghanaian Minerals Commission recommended that the transfer of the deed of assignment be approved and the Ministry of Lands, Forests, and Mines have now also approved the transfer." More
- February 22, 2011 | Item | ShareThis
SEC Declares Gammon Gold F-4 Registration Statement Effective; Capital Gold Mails Proxy Statement to Stockholders Seeking Approval of Merger Agreement - "Gammon Gold Inc. ("Gammon") (TSX:GAM.to - News) (NYSE:GRS - News) announced today that the Securities and Exchange Commission ("SEC"), on February 17, 2011, declared effective Gammon's Registration Statement on Form F-4 regarding the previously announced proposed merger with Capital Gold Corp. ("Capital Gold"). The registration statement includes a proxy statement/prospectus relating to the Capital Gold stockholder vote required to approve the merger and covering shares of Gammon's common shares to be issued to Capital Gold stockholders under the terms of the merger agreement. Last week, Capital Gold began mailing the proxy statement/prospectus to its stockholders of record as of February 14, 2011, seeking approval of the adoption of the merger agreement at the March 18, 2011 special meeting of its stockholders." More
- February 22, 2011 | Item | ShareThis
Golden Tag and ECU Silver Initiate Work Program on San Diego Property, Mexico - "Golden Tag Resources Ltd. (TSX-V:GOG - News) ("GOG") and ECU Silver Mining Inc. (TSX:ECU - News) ("ECU") are pleased to announce that initial work on a Phase 5 program of exploration has been initiated by Chemrox Technologies, an experienced mining consulting group based out of Denver, Colorado. A Contract has been signed by the parties for the term of the drilling program which allows Chemrox to act as Operator on the 50/50 joint venture San Diego Property (the JV). Chemrox will report to, and act under the direction of the joint venture committee." More
- February 22, 2011 | Item | ShareThis
Altynalmas Gold Announces a 50% Increase in Indicated Mineral Resources at the Kyzyl Gold Project in Kazakhstan - "Robert Friedland, Executive Chairman and CEO of Ivanhoe Mines (TSX:IVN - News)(NYSE:IVN - News)(NASDAQ:IVN - News) and Chairman of Altynalmas Gold, and David Woodall, President and CEO of Altynalmas Gold, today announced a 50% increase in Indicated Mineral Resources as part of an update of the NI 43-101 Mineral Resources for the Bakyrchik Deposit, which is part of the company's Kyzyl Gold Project in northeastern Kazakhstan. Ivanhoe Mines owns 50% of Altynalmas Gold." More
- February 22, 2011 | Item | ShareThis
Richmont Mines Reports Strong Fourth Quarter and Full Year 2010 Results - "Richmont Mines Inc. (TSX:RIC - News)(AMEX:RIC - News),("Richmont" or "the Company"), is pleased to announce its fourth quarter and 2010 fiscal year results for the period ended December 31, 2010. Financial results are based on Canadian GAAP and dollars are reported in Canadian currency, unless otherwise noted." More
- February 22, 2011 | Item | ShareThis
Nevsun Resources Ltd.: Bisha Declares Commercial Production - "Nevsun Resources Ltd. (TSX:NSU - News)(AMEX:NSU - News) is very pleased to announce that the Bisha Mine in Eritrea has reached commercial production. Commercial production marks the completion of project development, commissioning and operational ramp-up of the mine and processing plant. The operation is currently producing gold at a rate in excess of 1,000 ounces per day." More
- February 22, 2011 | Item | ShareThis
Gammon Gold Provides Update on Labour Negotiations at the El Cubo Mine - "Gammon Gold Inc. ("Gammon" or the "Company") (TSX:GAM.to - News) (NYSE:GRS - News) wishes to provide an update on recent developments at the Company's El Cubo mine located in Guanajuato State, Mexico. In response to reports issued by the Mexican media that have indicated an end to the 8-month labour disruption, the Company wishes to clarify the status of current negotiations with the El Cubo union. The Company confirms that advanced negotiations with the union are currently underway and while the Company is optimistic that a resolution to the work stoppage will be finalized in the near term, a definitive agreement with the union has not been reached. As this time, the union continues to restrict access to the mine facilities. However, as a sign of good faith, representatives from both the Company and the union will be inspecting the underground mine facilities today to determine the possible level of remediation requirements before mining activities could resume. The Company will provide further updates as warranted." More
- February 22, 2011 | Item | ShareThis
Gold Resource Corporation Drilling Returns Highest Grade Intercepts to Date - "Gold Resource Corporation's (GORO) (AMEX:GORO - News) development drilling returns highest grade intercepts to date including 11 meters down hole of 37.48 grams gold per tonne (1.20 ounce per tonne) and 2183 grams silver per tonne (70.20 ounce per tonne) within 28.6 meters of 21.64 grams gold per tonne (0.70 ounce per tonne) and 2178 grams silver per tonne (70.30 ounce per tonne) from its Arista deposit. The Company expects initial production from its high-grade Arista deposit, located at its El Aguila Project, in the next few weeks. Gold Resource Corporation is a low-cost gold producer with operations in the southern state of Oaxaca, Mexico." More
- February 22, 2011 | Item | ShareThis
Taseko Mines Submits Revised Project Description for the Prosperity Project to Federal Government - "The revised plan addresses the concerns identified during the federal review process. The proposal greatly reduces environmental impacts, preserves Fish Lake and its aquatics, and enables all mine operations and related components to be contained within one single watershed, a beneficial feature of the original design." More
- February 22, 2011 | Item | ShareThis
Goldcorp, Cree Nation of Wemindji, Grand Council of the Crees (Eeyou Istchee) and Cree Regional Authority Sign an Important Agreement - "GOLDCORP INC. (NYSE:GG - News) (TSX:G.to - News) ("Goldcorp"), the Cree Nation of Wemindji, the Grand Council of the Crees (Eeyou Istchee) and the Cree Regional Authority (the "Crees") today signed a Collaboration Agreement regarding the development and operation of Goldcorp's Éléonore Gold Project in northern Québec. The signing ceremony took place in Wemindji, Québec." More
- February 22, 2011 | Item | ShareThis
- Chris Mullen, Gold Seeker Report
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-- Posted 22 February, 2011 | |