-- Posted 24 February, 2011 | | Source: SilverSeek.com

The Metals:

Gold fell $5.45 to $1407.70 in Asia before it climbed back higher in London and saw a $4.95 gain at $1418.10 by a little after 8:15AM EST and then fell back to $1408.12 by about 11:15AM, but it then rallied back higher in the last couple of hours of trade and ended with a gain of 0.14%.  Silver rose 28 cents to $33.76 in Asia before it fell to see a $0.55 loss at $32.93 at about 11:15AM EST and then also bounced back higher in late trade, but it still ended with a loss of 0.87%.  Both metals are falling rather markedly in after hours access trade at the time of writing, however.

Euro gold fell to about €1025, platinum gained $7.50 to $1780.75, and copper gained over 5 cents to almost $4.33.

Gold and silver equities fell throughout most of trade and ended with over 2% losses.

The Economy:

Tomorrow at 8:30AM EST brings fourth quarter GDP expected at 3.3% and the GDP Deflator expected at 0.3%.  At 9:55 is Michigan Sentiment for February expected at 75.1.

The Markets:

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

Oil remained higher for most of trade after the Energy Information Administration reported that crude inventories rose 822,000 barrels, gasoline inventories fell 2.8 million barrels, and distillates fell 1.3 million barrels, but worries over Libya were offset by talk from Saudi Arabia and Algeria late in the day and oil fell in the last 15 minutes of trade to end lower and well off its overnight high of $103.41.

The U.S. dollar index continued its fall against the Swiss franc.

Treasuries remained higher after today’s $29 billion 7-year note auction drew a high yield of 2.854% with a bid to cover of 2.86.

The Dow and S&P fell on mixed economic data while the Nasdaq rose on strong earnings reports.  Conflicting reports out of the Middle East also roiled the markets.

Among the big names making news in the market today were Kohl’s, GM, Toyota, Salix, Sears, and the trucking stocks.

GATA Posts:

Hey, Hoenig, those oversize banks are rigging markets for your boss

The Statistics:

Activity from: 2/23/2011

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

Note: No change in Total Tonnes from yesterday’s data.

COMEX Gold Trust (IAU) Total Tonnes in Trust: 116.34 - No change from yesterday’s data.

Silver Trust (SLV) Total Tonnes in Trust: 10,575.23: +232.34 change from yesterday’s data.

The Miners:

Almaden’s (AAU) closed private placement, Tanzanian Royalty’s (TRE) changes at the executive level, Banro’s (BAA) closed financing, US Gold’s (UXG) closed public offering, Freeport’s (FCX) redemption of its senior notes, Great Basin’s (GBG) fourth quarter results and update on financing activities, Centerra’s (CG.TO) fourth quarter results, Newmont’s (NEM) reserves increase and year end results, United Mining’s (UMG.TO) extended contract, and Apogee’s (APE.V) assay results 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:

Inmet Mining and Lundin Mining Joint Presentation at BMO Capital Markets 2011 Global Metals & Mining Conference - More
- February 24, 2011 | Item | ShareThis

Almaden Minerals Ltd. Announces Closing of Private Placement - "Almaden Minerals Ltd. (TSX:AMM - News)(AMEX:AAU - News) (the "Company") announces that it has closed the Flow-Through Private Placement consisting of 100,000 Common Shares at a price of $4.00 per Share. The hold period in Canada on the securities expires on June 25, 2011." More
- February 24, 2011 | Item | ShareThis

Eagle Star Announces a Third Trench Returned 41.62% Fe2O3 across 27.5 metres, Cavaleiro Block-Angico Iron Project, North Eastern Brazil - More
- February 24, 2011 | Item | ShareThis

Linear Metals Announces Completion of Private Placement - More
- February 24, 2011 | Item | ShareThis

American Consolidated Announces Non-Brokered Private Placement - More
- February 24, 2011 | Item | ShareThis

Soho Begins Pre-Feasibility Work for Tahuehueto Project - More
- February 24, 2011 | Item | ShareThis

Premium Exploration Enhances Engineering and Geological Team for Preliminary Assessment of Friday-Petsite Deposit - More
- February 24, 2011 | Item | ShareThis

Kilo Drilling Intersects 3.51g/t Gold Over 31.30 Metres on the Adumbi Prospect, Somituri Project, DRC - More
- February 24, 2011 | Item | ShareThis

Tanzanian Royalty Announces Senior Executive Appointments and New Addition to Board of Directors - "The Company wishes to announce changes at the executive level that will facilitate and expedite the decision making process during this critically important period in its history. James E. Sinclair will now hold the positions of President and Chief Executive Officer while Joseph K. Kahama, the Company’s current president, will assume the position of Chairman and Chief Operating Officer (Tanzania)." More
- February 24, 2011 | Item | ShareThis

African Queen%u2019s JV Partner Abba Mining Wins Interim Order in Kenya%u2019s High Court Today Against Adverse License Claimant - More
- February 24, 2011 | Item | ShareThis

Highland Engages Behre Dolbear for 43-101 Report on Copper Properties - More
- February 24, 2011 | Item | ShareThis

Sienna Gold Inc. Announces $7,000,000 Financing - More
- February 24, 2011 | Item | ShareThis

LIM Signs Agreement With Tshiuetin Rail Transportation Inc. for Haulage of Iron-Ore - More
- February 24, 2011 | Item | ShareThis

AndeanGold Announces Approval of Water Permit-Now Fully Permitted to Initiate Phase I Drill Program at Urumalqui Au-Ag Project, Peru - More
- February 24, 2011 | Item | ShareThis

Matamec Intersects 0.89% TREO Over 21.5 Metres on its Kipawa HREO-Y-Zr Deposit - More
- February 24, 2011 | Item | ShareThis

Imperial Metals Corporation: Northwest Transmission Line to Power Red Chris - More
- February 24, 2011 | Item | ShareThis

Lundin Mining Announces ISS Proxy Advisory Services Recommends Shareholders Vote in Favour of Lundin Mining-Inmet Merger - More
- February 24, 2011 | Item | ShareThis

Formation Metals News Release - More
- February 24, 2011 | Item | ShareThis

Molycor Closes Private Placement - More
- February 24, 2011 | Item | ShareThis

Rae Wallace Mining Company Adds Ed Thompson, Bryan Morris, and George Cole to Its Board of Directors - More
- February 24, 2011 | Item | ShareThis

Mexivada Defines Pamour-Type Open Pit Gold Target at Golden Porcupine Property, Timmins Gold Camp, Ontario - More
- February 24, 2011 | Item | ShareThis

Verbina Resources Inc. Corporate Update - More
- February 24, 2011 | Item | ShareThis

Dia Bras Continues to Intercept Wide Zones of Silver-Lead-Zinc-Copper Mineralization at its Melchor Ocampo Property in Zacatecas State, Mexico - More
- February 24, 2011 | Item | ShareThis

Fission Energy Appoints Raymond Ashley VP Exploration & Retains Trident Financial Corp. For Investor Relations Services - More
- February 24, 2011 | Item | ShareThis

Viper Gold Scheduled to Begin 2,000 Metre Diamond Drill Program in March 2011 - More
- February 24, 2011 | Item | ShareThis

Olympus Prepares to Commission Its Second Gold Plant at Phuoc Son - More
- February 24, 2011 | Item | ShareThis

Cerro Resources Reports Trading Halt in Australia - More
- February 24, 2011 | Item | ShareThis

Plexmar Resources Inc.: Malin Plant and Project Update - More
- February 24, 2011 | Item | ShareThis

Bison Gold Resources Inc. Central Manitoba Property Update: High Grade Gold Intersections from Diamond Drilling on Ogama-Rockland Trend Confirm Depth Extension - More
- February 24, 2011 | Item | ShareThis

Drilling to Commence on Palopo Gold Project Indonesia - More
- February 24, 2011 | Item | ShareThis

Dia Bras Reports More High-Grade Silver at Cusi - More
- February 24, 2011 | Item | ShareThis

Alturas Minerals Completes $2.2 Million Financing - More
- February 24, 2011 | Item | ShareThis

Maya to Acquire 4 Mining Projects and Proceed With $3 Million Financing - More
- February 24, 2011 | Item | ShareThis

Cadillac Comments on Initial Assay Results From New Alger Released by Renforth Resources - More
- February 24, 2011 | Item | ShareThis

Commander Reports That Drilling Has Commenced on Orion Gold Project - More
- February 24, 2011 | Item | ShareThis

Maritime Resources Commences Drilling on Orion Project - More
- February 24, 2011 | Item | ShareThis

Osisko Reports 124 Metres Averaging 0.73 g/t Au in Southeast Extension at Hammond Reef - More
- February 24, 2011 | Item | ShareThis

ValGold Reports Metallurgical Tests Indicate High Gold Recoveries for Garrcon Deposit Mineralization - More
- February 24, 2011 | Item | ShareThis

ITY Mine Update - More
- February 24, 2011 | Item | ShareThis

United Mining Group Extends Contract at Galena Mine - "United Mining Group, Inc. (the "Company") (TSX:UMG - News)(Pinksheets:UMGZF - News)(Frankfurt:UM8 - News) announces that the Company's Mine Services Division has extended its agreement with U.S. Silver Corporation ("the Agreement"), to provide contract underground mining services at the Galena Mine located in Silver Valley Idaho, in the Coeur d'Alene Mining District. The total value of the contract is estimated at approximately US$ 6.0 million and extends the original contract by 18 months, through to August 2012." More
- February 24, 2011 | Item | ShareThis

TriStar Starts Exploration at Castelo de Sonhos Property in Brazil - More
- February 24, 2011 | Item | ShareThis

Great Western Minerals Group in Advanced Discussions on Rare Earth Separation Plant - More
- February 24, 2011 | Item | ShareThis

Galahad to Spin Out Bottle Creek to Red Ore Gold Inc. - More
- February 24, 2011 | Item | ShareThis

Everett Resources Contracts VTEM Airborne Geophysical Survey on the Menarik Property, Quebec - More
- February 24, 2011 | Item | ShareThis

Northern Freegold Identifies Initial Target Deposit at Revenue Zone, Freegold Mountain Project, Yukon - More
- February 24, 2011 | Item | ShareThis

Gold Finder Provides Update, Plans Spring Drilling for Golden Rose - More
- February 24, 2011 | Item | ShareThis

Lake Shore Gold Intersects Wide, High-Grade Mineralization at Timmins Mine, Confirms and Expands Ultramafic and Main Zones - More
- February 24, 2011 | Item | ShareThis

Pele Mountain Announces Total Rare Earth Oxide Resources of 52-Million Pounds Indicated Plus 96-Million Pounds Inferred - More
- February 24, 2011 | Item | ShareThis

Malbex Q1 Update - More
- February 24, 2011 | Item | ShareThis

Cresval Announces Extensive 2011 Exploration Program at Bridge River - More
- February 24, 2011 | Item | ShareThis

Geologix Delivers Final Arian Silver Tepal Payment - More
- February 24, 2011 | Item | ShareThis

Coyote Resources Receives Positive Report on the Tonopah Extension Mine in Nevada - More
- February 24, 2011 | Item | ShareThis

Laurion Acquires 100% Interest in 179 Mining Claim Units Contiguous to the North of the Sturgeon River Project, Beardmore ON - More
- February 24, 2011 | Item | ShareThis

Benton and JV Partner Buchans Minerals to Drill Long Range Base Metal Targets & Conduct Soil Geochem Over Goldquest Prospect - More
- February 24, 2011 | Item | ShareThis

Oteegee Innovations Announces Spring Exploration Plans - More
- February 24, 2011 | Item | ShareThis

AmeriLithium Signs Contract to Commence Imminent 8-Hole Drilling Program on Nevada-Based Paymaster Project - More
- February 24, 2011 | Item | ShareThis

Selwyn Expands Management Team - More
- February 24, 2011 | Item | ShareThis

Renforth Obtains 3.10 g/t Au Over 18.2 Metres at New Alger Gold Project - More
- February 24, 2011 | Item | ShareThis

Orezone Gold Corporation /Brighton Makes Significant New Uranium Discovery in Niger: Consistent Mineralization Occurs in Similar Setting to Producing Mines - More
- February 24, 2011 | Item | ShareThis

High Desert Gold Corporation Joins the OTCQX in the U.S. - More
- February 24, 2011 | Item | ShareThis

Serengeti Acquires Three Properties in the Highly Prospective Stikine Arch, BC-Summer Work Programs Planned - More
- February 24, 2011 | Item | ShareThis

AM Gold and Capella Announce Termination of Letter of Intent - More
- February 24, 2011 | Item | ShareThis

Klondex Names Robin Goad, Veteran Geologist and Mining Industry Executive, to its Board of Directors - More
- February 24, 2011 | Item | ShareThis

Rainy River Announces Updated Mineral Resource Statement - More
- February 24, 2011 | Item | ShareThis

Otis Releases Complete Mine Ridge 2010 Drill Results; 31 of 35 Holes Encounter Significant Gold Mineralization - More
- February 24, 2011 | Item | ShareThis

Northair Intersects 80.45 Metres of 123.5 g/t Silver at La Cigarra Silver Project, Mexico - More
- February 24, 2011 | Item | ShareThis

Kirrin Resources Announces Lost Pond Drill Results; 2011 Exploration in Western Newfoundland to Focus on Rare Earth Elements Program - More
- February 24, 2011 | Item | ShareThis

Avion to Release 2010 Financial Results on March 22, 2011 - More
- February 24, 2011 | Item | ShareThis

Hathor Extends Roughrider Uranium Mineralization Eastward - More
- February 24, 2011 | Item | ShareThis

White Canyon Uranium Limited: Issue of Options - More
- February 24, 2011 | Item | ShareThis

Colorado Department of Public Health and Environment Files Motion to Dismiss Sheep Mountain Alliance Lawsuit Challenging License Approval - More
- February 24, 2011 | Item | ShareThis

Capstone Reports 2011 Prefeasibility Study for Kutcho Copper-Zinc Project, BC - More
- February 24, 2011 | Item | ShareThis

Centamin Egypt Limited: Board Appointments and General Company Update - More
- February 24, 2011 | Item | ShareThis

Northern Gold Reports That Metallurgical Testing of the Garrcon Deposit Has Achieved 97% Recovery - More
- February 24, 2011 | Item | ShareThis

Primero Reports Fourth Quarter and Full Year 2010 Results; Fourth Quarter Operations Generate a Profit - More
- February 24, 2011 | Item | ShareThis

BE Resources Has Commenced Work on 12 Hole Drill Program at Its Warm Springs Beryllium Project - More
- February 24, 2011 | Item | ShareThis

Boliden Starting Up Gold Mine - More
- February 24, 2011 | Item | ShareThis

U3O8 Corp's Drilling Confirms Consistent Uranium, Vanadium, Phosphate & Rare Earth Mineralization Over 2km Along Trend in the Berlin Project, Colombia - More
- February 24, 2011 | Item | ShareThis

Earth Dragon Resources Reflects on Gold Price Rally - More
- February 24, 2011 | Item | ShareThis

DPM Reports Fourth Quarter 2010 and Year-End Results and Updated Chelopech Mineral Reserves and Resources - More
- February 24, 2011 | Item | ShareThis

Banro Announces Closing of C$56,875,000 Financing - "Banro Corporation ("Banro" or the "Company") (NYSE AMEX:BAA) (TSX:BAA.to - News) is pleased to announce the closing of its underwritten private placement of 17,500,000 special warrants of the Company (the "Special Warrants") at a price of C$3.25 per Special Warrant for aggregate gross proceeds of C$56,875,000 (the "Offering"). The Offering was completed through a syndicate of investment dealers." More
- February 24, 2011 | Item | ShareThis

US Gold Announces the Closing of Public Offering of Common Stock and Underwriters Exercise Over-Allotment Option - "US GOLD CORPORATION (NYSE:UXG - News)(TSX:UXG - News) (the "Company" or "US Gold"), an exploration company focused on gold and silver in the United States and Mexico, announced today the closing of its previously announced underwritten offering in the United States and Canada. The company sold 17,250,000 shares of common stock, including 2,250,000 shares pursuant to the underwriters' full exercise of their over-allotment option at $6.50 per share for aggregate gross proceeds of $112.12 million, or net proceeds of $105.3 million after commissions and expenses." More
- February 24, 2011 | Item | ShareThis

Freeport-McMoRan Copper & Gold Inc. Announces Redemption of its 8.25% Senior Notes due 2015 - "Freeport-McMoRan Copper & Gold Inc. (NYSE:FCX - News) announced today that it has issued a notice to redeem all of its outstanding 8.25% Senior Notes due 2015 (“Notes”) on April 1, 2011. Approximately $1.1 billion aggregate principal amount of Notes is currently outstanding." More
- February 24, 2011 | Item | ShareThis

Great Basin Gold Provides Update on Financing Activities and Unaudited Results for Q4 2010 and the Financial Year Ended December 31, 2010 - "The Company achieved its first positive earnings per share of $0.02 during Q4 2010 (Q3 2010: $0.07 loss per share). The adjusted loss per share for the year ended December 31, 2010 decreased to $0.05, an improvement of 69% over the $0.16 adjusted loss per share reported in fiscal 2009." More
- February 24, 2011 | Item | ShareThis

Great Basin Gold Provides Update on Financing Activities and Unaudited Results for Q4 2010 and the Financial Year Ended December 31, 2010 - "Fourth quarter (Q4) 2010 gold production of 31,911 Au eqv oz2 from trial mining activities at the Company's Hollister project was in line with expectations and an increase of 190% over third quarter (Q3) 2010 results. Revenue for the quarter totaled $43 million and $100 million for the fiscal year, an increase of $66 million year on year. Cash costs for the quarter (inclusive of royalties) decreased by 19% to $690 (US$670) per Au eqv oz and 11% to $563 (US$546) per ton from Q3 2010 and were in-line with estimates for the quarter. The Company's Esmeralda mill processed 27,553 tons during Q4 2010 and recovered 21,901 Au eqv oz. Recoveries for the quarter of 80% Au and 61% Ag are still below our targeted rate of 92% Au and 85% Ag due to the high metal content fouling the carbon in the process. This is being addressed by the installation of a carbon regeneration system and automation of certain components within the mill." More
- February 24, 2011 | Item | ShareThis

Apogee Intersects 8.0 Meters Grading 413.25 g/t Silver 300 Meters East of Previous Drilling at Pulacayo Deposit - "Apogee Minerals Ltd. ("Apogee" or the "Company") (TSX-V:APE - News) reports assay results from seven additional diamond drill holes from the ongoing drill campaign at the Pulacayo deposit located in southwest Bolivia. (See Table 1 below). All of the reported holes were drilled from surface." More
- February 24, 2011 | Item | ShareThis

Centerra Gold Reports 2010 Results; Fourth Quarter Earnings $153 million or $0.65 per share - "Centerra Gold Inc. (TSX:CG - News) today reported fourth quarter 2010 net earnings of $153.1 million or $0.65 per common share based on revenues of $323.3 million, compared to net earnings of $140.0 million or $0.60 per common share on revenues of $323.9 million in the same quarter of 2009." More
- February 24, 2011 | Item | ShareThis

Newmont Gold Reserves Increase to 93.5 Million Ounces - "Attributable gold Measured and Indicated non-reserve mineralization ("NRM")(1) for 2010 was 1.3 billion tons at an average grade of 0.019 ounces per ton, up from 1.1 billion tons at an average grade of 0.020 ounces per ton for 2009. In addition, attributable gold Inferred NRM was 504 million tons at an average grade of 0.026 ounces per ton. Attributable copper Measured and Indicated NRM for 2010 was 849 million tons at an average grade of 0.15%, up from 796 million tons at a grade of 0.17% from 2009. In addition, attributable copper Inferred NRM was 390 million tons at an average grade of 0.15%. Gold and copper NRM were calculated using prices of $1,150 per ounce and $3.00 per pound, respectively." More
- February 24, 2011 | Item | ShareThis

Newmont Reports 76% Increase in Net Income to a Record $2.3 Billion and Record $3.2 Billion of Operating Cash Flow in 2010 - "Newmont Mining Corporation (NYSE:NEM - News) ("Newmont" or the "Company") today announced that net income increased 76% to $2.3 billion ($4.63 per share) in 2010, compared to $1.3 billion ($2.66 per share) in the prior year. Operating cash flow was a record $3.2 billion for 2010, compared to $2.9 billion in 2009. Adjusted net income(1) rose 39% to a record $1.9 billion ($3.85 per share) from $1.4 billion ($2.79 per share) in 2009, while the Company's gold operating margin(2) increased by 30% to $737 per ounce in 2010, from $566 per ounce in 2009." More
- February 24, 2011 | Item | ShareThis

- Chris Mullen, Gold Seeker Report

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