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Gold Seeker Closing Report: Gold and Silver Rise To New Highs Again

By: Chris Mullen, Gold-Seeker.com


-- Posted 7 March, 2011 | | Source: SilverSeek.com

 

Close

Gain/Loss

Gold

$1434.00

+$6.10

Silver

$35.90

+$0.62

XAU

213.98

-0.87%

HUI

568.39

-0.88%

GDM

1666.02

-0.67%

JSE Gold

2703.89

-16.30

USD

76.47

+0.08

Euro

139.72

-0.13

Yen

121.58

+0.09

Oil

$105.44

+$1.02

10-Year

3.497%

+0.005

T-Bond

120.78125

-0.03125

Dow

12090.03

-0.66%

Nasdaq

2745.63

-1.40%

S&P

1310.13

-0.83%

 
 

 

The Metals:

 

Gold climbed as much as $16.60 to a new all-time high of $1444.50 by a little after 8AM EST before it fell back to unchanged at $1427.90 by about noon, but it then bounced back higher in afternoon trade and ended with a gain of 0.43%.  Silver climbed to a new 31-year high of $36.732 before it also fell back off in New York, but it still ended with a gain of 1.76%.

 

Euro gold climbed to over €1027, platinum lost $17.25 to $1815.25, and copper fell 16 cents to about $4.31.

 

Gold and silver equities rose about 1% at the open, but they then fell to find slight losses by midday and remained near that level for the rest of the day.

 

The Economy:

 

Report

For

Reading

Expected

Previous

Consumer Credit

Jan

$5.0B

$3.3B

$4.1B

 

Federal Reserve's Lockhart: Oil shock could lead to QE3  Yahoo

Million-dollar homes sales rise nearly 20%  CNN

China Adding to $1 Trillion of Treasuries Limits Yields Amid U.S. Selling  Bloomberg

 

There are no major economic reports due out tomorrow.

 

The Markets:

 

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

 

Oil climbed to over $107 a barrel overnight, but it then fell back off in New York and ended with only about a 1% gain on talks over possible resolutions to the ongoing crisis in Libya.

 

The U.S. dollar index reversed early losses and ended slightly higher after oil closed well off its overnight highs.

 

Treasuries reversed early gains and ended slightly lower on easing tensions in the Middle East while the Dow, Nasdaq, and S&P fell on worries over oil prices staying higher.

 

Among the big names making news in the market today were JPMorgan, Western Digital, and Apple.

 

GATA Posts:

Ted Butler: Silver shocker

U.S. considers oil market intervention

Egon von Greyerz: Apres nous le deluge

Utah House passes precious metals currency bill

 

The Statistics:

Activity from: 3/03/2011

Gold Warehouse Stocks:

11,115,059

-31,898

Silver Warehouse Stocks:

103,186,639

-343,326

 

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

1210.621

38,922,671

US$55,945m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)

Gold Bullion Securities

116.51

3,746,032

US$5,365m

London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam

ETFS Physical Gold

122.56

3,940,260

US$5,643m

Australian Stock Exchange (ASX)

Gold Bullion Securities

14.21

474,639

US$655m

Johannesburg Securities Exchange (JSE)

New Gold Debentures

49.50

1,591,477

US$2,246m

NASDAQ Dubai

Dubai Gold Securities

0.154

4,960

US$7m

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

 

COMEX Gold Trust (IAU) Total Tonnes in Trust: 119.42: +0.46 change from yesterday’s data.

 

Silver Trust (SLV) Total Tonnes in Trust: 10,794.89 - No change from yesterday’s data.

 

The Miners:

 

Goldcorp’s (GG) dividend, Gammon’s (GRS) drill results, Brigus Gold’s (BRD) new Vice President, Investor Relations, Paramount’s (PZG) assay results, Vista Gold’s (VGZ) note repayment, Freeport’s (FCX) landslide, NovaGold’s (NG) plan of arrangement with Copper Canyon (CPY.V), Metalline’s (MMG) drill program, Great Panther’s (GPL) increased mineral resource, SilverCrest’s (SVL.V) drill results, Endeavour’s (EXK) transfer to the NYSE, and Esperanza’s (EPZ.V) exploration update were among the big stories in the gold and silver mining industry making headlines today.

 

WINNERS

1.  Midway

MDW+12.74% $2.39

2.  Endeavour

EXK +9.21% $10.20

3.  Great Panther

GPL +9.01% $4.96

 

LOSERS

1.  Hecla

HL -5.83% $9.53

2.  Cardero

CDY-5.19% $2.01

3.  Kimber

KBX-5.14% $1.66

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:

Focus Metals Inc. Grants Share Purchase Options - More
- March 07, 2011 | Item | ShareThis


First Nickel Provides Update on Lockerby Restart - More
- March 07, 2011 | Item | ShareThis


Duluth Metals and Franconia Minerals Complete Plan of Arrangement - More
- March 07, 2011 | Item | ShareThis


Oceanic Iron Ore Corp. Joins OTCQX - More
- March 07, 2011 | Item | ShareThis


RT Minerals Commences Drilling at the Bazooka Gold Property, Quebec, and Updates West Timmins Deep Drilling Next to Lakeshore Gold Corp. Timmins Mine Property - More
- March 07, 2011 | Item | ShareThis


American Energy Fields Raises Over $18 Million in Private Placement - More
- March 07, 2011 | Item | ShareThis


Auriga Gold's Initial Drilling at Maverick Gold Project, Manitoba, Intersects Parallel Zones of High Grade Gold Mineralization - More
- March 07, 2011 | Item | ShareThis


Apella Resources Inc.: Drill Rig Returns to Iron-T Vanadium-Iron-Titanium Deposit - More
- March 07, 2011 | Item | ShareThis


Greystar Resources Disappointment at Early Termination of Public Hearing in Bucaramanga - More
- March 07, 2011 | Item | ShareThis


Ucore Releases NI 43-101 Compliant Resource for Bokan - More
- March 07, 2011 | Item | ShareThis


Energy Fuels' Pinon Ridge Uranium/Vanadium Mill Receives Final Radioactive Materials License from State of Colorado - More
- March 07, 2011 | Item | ShareThis


Bellhaven Receives Assays for First Two Drill Holes at its High-Sulphidation Epithermal Gold Prospect at Bejucosa, Panama - More
- March 07, 2011 | Item | ShareThis


Mr. Sean Roosen Nominated as President of the Strategic Advisory Committee of Matamec - More
- March 07, 2011 | Item | ShareThis


Lithium One Delineates Resource of 5.4 Million Tonnes Lithium Carbonate Equivalent and 21.3 Million Tonnes Potash Equivalent at Sal de Vida Brine Project - More
- March 07, 2011 | Item | ShareThis


Compass Gold Closes C$2,000,000 Private Placement - More
- March 07, 2011 | Item | ShareThis


Sonora Resources Stakes Additional Land at Los Amoles – Samples 432 g/t Silver over 2.2 M - More
- March 07, 2011 | Item | ShareThis


20,000 Meter Drill Program and 1,550 Line Kilometer Geophysics Survey Underway at Sierra Mojada - "Metalline Mining Company (TSX:MMZ.to - News) ("Metalline") is pleased to announce that drilling and airborne geophysics have commenced at our Sierra Mojada project in Coahuila, Mexico." More
- March 07, 2011 | Item | ShareThis


Trelawney Announces Initial Mineral Resource Estimate of 4.2 Million Ounces for the Cote Lake Gold Deposit - More
- March 07, 2011 | Item | ShareThis


DIOS AU33 West Auriferous Tonalite Samples Strongly Affected by Hydrothermal Potassic Alteration - More
- March 07, 2011 | Item | ShareThis


Estrella Program Review and 2011 Exploration Plans - More
- March 07, 2011 | Item | ShareThis


Ryan Gold Corp.: Shawn Ryan to Receive Bill Dennis Award for Prospecting Success by Prospectors & Developers Association of Canada - More
- March 07, 2011 | Item | ShareThis


Mexus Gold U.S. is Pleased to Announce the Acquisition and Initial Exploration Results for the Caborca Project, Sonora State, Mexico - More
- March 07, 2011 | Item | ShareThis


Primero Appoints Vice President of Exploration - More
- March 07, 2011 | Item | ShareThis


NQ Exploration Expends its Land Position in the Selbaie Mining District - More
- March 07, 2011 | Item | ShareThis


Everett Resources Ltd. Appoints Garry Clark to the Technical Advisory Board as Menarik Enters New Phase - More
- March 07, 2011 | Item | ShareThis


Oroco Extends Mineralized Zone at Cerro Prieto - More
- March 07, 2011 | Item | ShareThis


Quantum Rare Earth Developments Corp.: Rare Earth Element Sampling Program- Hole Ec-93 Returns 54.9 M of 3.30% TREO - More
- March 07, 2011 | Item | ShareThis


Cascadero Copper Corporation Announces 400,000 Unit Non-Brokered Private Placement - More
- March 07, 2011 | Item | ShareThis


La Quinta Resources Identifies Additional Targets at Easter Project - More
- March 07, 2011 | Item | ShareThis


Laurentian Goldfields Ltd. Closes $2.65 Million Non-Brokered Private Placement - More
- March 07, 2011 | Item | ShareThis


Manicouagan Minerals Completes Airborne Geophysical Survey at Brabant Lake Zinc Project, Saskatchewan - More
- March 07, 2011 | Item | ShareThis


Rio Cristal Resources Appoints Investor Relations Firms - More
- March 07, 2011 | Item | ShareThis


PAW Commences Tantalum Operations at Muiane - More
- March 07, 2011 | Item | ShareThis


More Impressive Results from Nuinsco's Bukari Gold Concession in Egypt - More
- March 07, 2011 | Item | ShareThis


Aquila Announces Acquisition of Reef Gold Project - More
- March 07, 2011 | Item | ShareThis


Orvana Minerals Corp.: Construction Completed of Leaching-Precipitation-Flotation ("LPF") Plant at Don Mario UMZ Copper-Gold-Silver Mine, Bolivia - More
- March 07, 2011 | Item | ShareThis


Kaminak Announces Phase One Drill Plan for the 2011 Coffee Exploration Program - More
- March 07, 2011 | Item | ShareThis


Yale Stakes Additional Land at Los Amoles – Samples 432 g/t Silver Over 2.2 M - More
- March 07, 2011 | Item | ShareThis


Wildcat Announces $13 Million Private Placement With Silver Wheaton - More
- March 07, 2011 | Item | ShareThis


Search Minerals Reports Significant REE Drill Intersections on Red Wine Property, Labrador, Under Option to Great Western Minerals - More
- March 07, 2011 | Item | ShareThis


Comstock Mining - Dayton Drilling Finds Highest Grade Mineralization To Date - More
- March 07, 2011 | Item | ShareThis


Argentex: Second drill rig commences targeted program at Pinguino silver property - More
- March 07, 2011 | Item | ShareThis


Athabasca Uranium Completes Z-Tem Survey, Gears Up for Ground Work - More
- March 07, 2011 | Item | ShareThis


Panoro Announces First Drill Results for the Cotabambas Copper Gold Project in Peru - More
- March 07, 2011 | Item | ShareThis


Starcore Reports Positive Financial Results From the Second Quarter of 2011 - More
- March 07, 2011 | Item | ShareThis


Soldi Ventures Inc. Acquires the Golden Bullet Property in Newfoundland - More
- March 07, 2011 | Item | ShareThis


Argentum Silver Options Two Silver-Gold Projects From Soltoro in Jalisco, Mexico - More
- March 07, 2011 | Item | ShareThis


Indico Identifies Two Large Copper-Moly-Gold Porphyry Targets at Ocana Project, Southern Peru Porphyry Belt - More
- March 07, 2011 | Item | ShareThis


Continental Nickel Reports Grant of Stock Options - More
- March 07, 2011 | Item | ShareThis


Pershimco Appoints Jean Robitaille as Director - More
- March 07, 2011 | Item | ShareThis


Argus and San Lorenzo DV Consultores Stake Peruvian Gold Project - More
- March 07, 2011 | Item | ShareThis


Alto Ventures and Pacific North West Capital Expand Gold Potential and File NI 43-101 Resource Estimate Report on SEDAR, Destiny Gold Project, Quebec - More
- March 07, 2011 | Item | ShareThis


Brazilian Gold and Golden Tapajos Intersect 13.6 Metres Grading 2.8 Grams/Tonne Gold at Boa Vista Gold Project - More
- March 07, 2011 | Item | ShareThis


Kenai Completes Sao Chico Acquisition and Private Placement - More
- March 07, 2011 | Item | ShareThis


Argentum Options Two Silver-Gold Projects from Soltoro Ltd. in Jalisco, Mexico - More
- March 07, 2011 | Item | ShareThis


AndeanGold Announces Grant of Stock Options - More
- March 07, 2011 | Item | ShareThis


Ridgemont Reaches Memorandum of Understanding With Toquaht Nation of Vancouver Island, British Columbia - More
- March 07, 2011 | Item | ShareThis


Adex Mining Concentrate Optimization Program Test Results - More
- March 07, 2011 | Item | ShareThis


Detour Gold Commences Drilling Program at Conquest's Sunday Lake Property - More
- March 07, 2011 | Item | ShareThis


Avrupa's Geochemical and Geophysical Results Upgrade Covas Tungsten Project - More
- March 07, 2011 | Item | ShareThis


China Gold International Joins Hang Seng Composite Index - More
- March 07, 2011 | Item | ShareThis


Colossus Minerals Purchases Ball Mill and Announces Plans to Extract a 2,500 Tonne Bulk Sample at Serra Pelada - More
- March 07, 2011 | Item | ShareThis


Papuan Precious Metals Corporation: Sampling Returns Copper Values as High as 23.86% from Ioleu Creek Prospect, Mt. Suckling - More
- March 07, 2011 | Item | ShareThis


Seafield Drills 200 Metres Grading 0.98 g/t Gold, 0.09% Cu at Dosquebradas, Quinchia Gold Project, Colombia - More
- March 07, 2011 | Item | ShareThis


Orezone Gold Corporation: Burkina Faso is Ranked 6th in Current Mineral Potential, According to the Fraser Institute 2010/2011 Annual Survey of Mining - More
- March 07, 2011 | Item | ShareThis


Pre-Financing Due Diligence Started on Zazu's Lik Deposit - More
- March 07, 2011 | Item | ShareThis


Promotion of Hamish Campbell as Executive Vice President of Southern Arc - More
- March 07, 2011 | Item | ShareThis


Riverside Resources Signs an Agreement to Option Penoles Silver-Gold Property to Sierra Madre Developments Inc. - More
- March 07, 2011 | Item | ShareThis


Castle Resources Targets 30,000 Metre Drill Program in 2011 at the Granduc Copper Project, Stewart, British Columbia - More
- March 07, 2011 | Item | ShareThis


Copper Mountain Mining Corporation - Drilling extends Pit 2 mineralization below planned Super Pit, & still open at depth - More
- March 07, 2011 | Item | ShareThis


Diadem Resources Secures $8 Million Funding Commitment From Roswell Capital Partners - More
- March 07, 2011 | Item | ShareThis


Camino Minerals Corporation: New Drill Targets Emerge at the Rodeo Gold Project - More
- March 07, 2011 | Item | ShareThis


Strategic Mining's President and Consultants Arrive in Vietnam to Complete Negotiations to Acquire Interest in Currently Producing Gold Mine - More
- March 07, 2011 | Item | ShareThis


Batero Gold Intersects 460.00 Metres Grading 0.70 g/t Gold and 0.12% Copper Including 261.00 Metres of 1.00 g/t Gold and 0.16% Copper Starting From 10 Metres - More
- March 07, 2011 | Item | ShareThis


Quest Rare Minerals Files Form 40-F With U.S. Securities and Exchange Commission - More
- March 07, 2011 | Item | ShareThis


North Arrow Appoints Brian McEwen as President and Chief Operating Officer - More
- March 07, 2011 | Item | ShareThis


Tara Minerals Announces Cancellation of Tentative Merger Agreement With Tara Gold Resources - More
- March 07, 2011 | Item | ShareThis


Tournigan Continues to Improve Grade in Kuriskova’s Main Zone South - More
- March 07, 2011 | Item | ShareThis


Caldera Updates Results on Hole 8: 2.59 g/t Gold, 164 g/t Silver, 0.13% Copper, 4.34% Lead, and 4.34% Zinc Over 7.1M - More
- March 07, 2011 | Item | ShareThis


Crowflight Receives $30 Million Financing Proceeds - More
- March 07, 2011 | Item | ShareThis


PBX Announces AGM Results and Drill Update - More
- March 07, 2011 | Item | ShareThis


Inmet Clarifies Status of Cobre Panama Project - More
- March 07, 2011 | Item | ShareThis


17,000,000 Ounce Structural Corridor Extends Onto Avion's Kofi Property - More
- March 07, 2011 | Item | ShareThis


Otis Hits Gold in Two of Five Targets at Dog Bone Ridge - More
- March 07, 2011 | Item | ShareThis


Catalina Acquires Property in Rainy River Greenstone Belt - More
- March 07, 2011 | Item | ShareThis


Riverside Resources Signs an Agreement to Option Chapalota Gold Property to Guerrero Exploration Inc. - More
- March 07, 2011 | Item | ShareThis


Mercer Gold MGDH-05 Intercepts Three Zones at Guayabales, Colombia - More
- March 07, 2011 | Item | ShareThis


Amex Confirms by Drilling New Gold Structure at Cameron Property - More
- March 07, 2011 | Item | ShareThis


Canterra Acquires New Gold Properties in Ontario - More
- March 07, 2011 | Item | ShareThis


Niblack Announces 54% Increase to Mineral Resources - More
- March 07, 2011 | Item | ShareThis


Drilling for Gold on Midlands' Kaniago Commences in Ghana, West Africa - More
- March 07, 2011 | Item | ShareThis


Lithium Americas Provides Update on the Cauchari-Olaroz Project - More
- March 07, 2011 | Item | ShareThis


New Dimension Options Lancing Project in the Yukon from Strategic Metals - More
- March 07, 2011 | Item | ShareThis


American Lithium Minerals Completes Phase 2 RC Drilling for the Borate Hills Project - More
- March 07, 2011 | Item | ShareThis


Quadra FNX Signs Labour Agreement at Franke - More
- March 07, 2011 | Item | ShareThis


Rodinia Lithium Inc.'s Diablillos Project Is Unaffected by Recent Developments in Jujuy Province, Argentina - More
- March 07, 2011 | Item | ShareThis


Mineral Mountain Increases Its Straw Lake Holdings, Purchases 4 Patented Mineral Claims, Now Controls 4448 Hectares in Prospective Gold District - More
- March 07, 2011 | Item | ShareThis


Champion Minerals Drills 123 Meters of Specular Hematite Mineralization Grading 34.1% Iron at the Fire Lake North Project - More
- March 07, 2011 | Item | ShareThis


Sama Resources Announces Results of Enhanced Metallurgical Testing at its Samapleu Nickel-Copper Project - More
- March 07, 2011 | Item | ShareThis


Codelco Intercepts Copper on Lara's Liberdade Project in Brazil - More
- March 07, 2011 | Item | ShareThis


Capstone Reports Additional High Grade Intercepts at Cozamin Mine - More
- March 07, 2011 | Item | ShareThis


Dynacor Gold Mines: Tumipampa Exploration Update - More
- March 07, 2011 | Item | ShareThis


Franconia Minerals Receives Final Court Order Approving Plan of Arrangement with Duluth Metals - More
- March 07, 2011 | Item | ShareThis


Lions Gate Metals Inc. Intersects 229m of 0.41% Copper at Poplar - More
- March 07, 2011 | Item | ShareThis


Torex Continues to Grow the El Limon Deposit - More
- March 07, 2011 | Item | ShareThis


Great Panther Silver Increases Mineral Resources at the Topia Mine - "GREAT PANTHER SILVER LIMITED (TSX:GPR - News)(AMEX:GPL - News) (the "Company") is pleased to announce that Roscoe Postle Associates Inc. ("RPA") of Vancouver, B.C. has delivered an update to the ongoing mineral resource development at the Company's 100% owned Topia Silver-Gold-Lead-Zinc Mine in Durango, Mexico. The 2011 RPA mineral resource estimate comprises Measured & Indicated ("M & I") Mineral Resources of 171,000 tonnes at 864g/t silver, 1.56g/t gold, 7.53% lead and 4.37% zinc (7.44 million silver equivalent ounces), a 36.3% increase over the 2009 resource estimate. In addition, RPA estimates 285,000 tonnes of 868g/t silver, 1.5g/t gold, 6.5% lead and 3.7% zinc (11.91 million silver equivalent ounces) in the Inferred category, a 109.3% increase over the previous estimate." More
- March 07, 2011 | Item | ShareThis


Candente Copper Files NI 43-101 Technical Report and Updates Key Financial Results for the Canariaco Norte Copper Project Pre-Feasibility Study Progress Report - More
- March 07, 2011 | Item | ShareThis


Guerrero Acquires Chapalota Gold Property in Sinaloa, Mexico - More
- March 07, 2011 | Item | ShareThis


Trinity Announces Initial Results From Trenches Sampling at Caupar, Peru - More
- March 07, 2011 | Item | ShareThis


Nirek Resources Inc. and Guardians of Gold Inc. Files Form F-4 Related to an Exchange Offer for a Minimum of 20% of Silver Dragon Resources Inc. - More
- March 07, 2011 | Item | ShareThis


Aura Minerals Inc. Announces Debt Restructuring - More
- March 07, 2011 | Item | ShareThis


Orocobre Limited: Approvals Process for Olaroz Lithium-Potash Project - More
- March 07, 2011 | Item | ShareThis


Inmet Mining Announces Postponement of Special Meeting of Shareholders - More
- March 07, 2011 | Item | ShareThis


Lundin Mining Announces New Date for Special Meeting of Shareholders - More
- March 07, 2011 | Item | ShareThis


Donner Metals Ltd.: Bracemac-McLeod Ramp Moves Past 660 Metres - More
- March 07, 2011 | Item | ShareThis


Goldcorp Declares Third Monthly Dividend Payment for 2011 - "GOLDCORP INC. (TSX:G.to - News), (NYSE:GG - News) is pleased to declare its third monthly dividend payment for 2011 of $0.034 per share, which reflects the 11% increase the Company announced on February 24, 2011. Shareholders of record at the close of business on Thursday, March 17, 2011 will be entitled to receive payment of this dividend on Friday, March 25, 2011. Goldcorp has paid a monthly dividend to its shareholders since 2003. Canadian resident individuals who receive dividends from Goldcorp after 2005 are entitled to an enhanced gross-up and dividend tax credit on such dividends." More
- March 07, 2011 | Item | ShareThis


Gammon Gold Reports Numerous New Drill Intercepts at the Guadalupe y Calvo Rosario Vein Northwest Extension, Including 5.0 Metres Grading 8.96 Grams per Tonne - "We are very encouraged by the mineralization discovered in the Rosario Northwest Extension as it increases the length of the high grade mineralization a further 500 meters from the 2008 drilling program. The Northwest Extension has never been previously explored as the vein occurs below the post-mineral tuffs." stated Peter Drobeck, Senior Vice President of Exploration and Business Development. Mr. Drobeck continued, "Due to the success of the drilling program over the past 8 months, the Board of Directors have approved a budget of $4.0 to $5.0 million for 2011 to develop this new discovery. In addition, the Preliminary Economic Assessment is now being expanded to include these new and encouraging drill results." More
- March 07, 2011 | Item | ShareThis


Brigus Gold Appoints New Vice President, Investor Relations - "Brigus Gold Corp. (“Brigus” or the “Company”) (TSX:BRD.to - News)(NYSE Amex: BRD) announces that Jennifer Nicholson has been appointed Vice President, Investor Relations, effective immediately." More
- March 07, 2011 | Item | ShareThis


NovaGold and Copper Canyon Agree to Plan of Arrangement Transaction - "NovaGold Resources Inc. (TSX:NG - News)(AMEX:NG - News) ("NovaGold") and Copper Canyon Resources Ltd. (TSX-V:CPY - News) ("Copper Canyon") announced today that they have entered into a binding letter agreement providing for NovaGold to acquire all of the outstanding common shares of Copper Canyon by way of a plan of arrangement (the "Arrangement") under the Business Corporations Act (Alberta)." More
- March 07, 2011 | Item | ShareThis


SilverCrest Reports La Joya Initial Drill Results; Up to 19.2 Metres of High Grade Silver Values - "SilverCrest Mines Inc. (TSX-V:SVL - News) (the "Company") is pleased to announce that it has completed 13 core holes of a planned Phase I, 22 hole program (see attached drill plan: http://media3.marketwire.com/docs/svl_03_07_2011_figures.pdf) at its newly acquired La Joya Property which is located approximately 75 kilometres southeast of the city of Durango, Mexico. The property is located in a prolific mineralized region which currently supports several mining operations including Grupo Mexico's, San Martin Mine, Industrias Penoles,' Sabinas Mine, Pan American Silver's, La Colorada Mine and First Majestic Silver's, La Parrilla Silver Mine. Please reference our website at www.silvercrestmnes.com for more information, photos and figures on La Joya." More
- March 07, 2011 | Item | ShareThis


Paramount Gold Announces More Positive Results from Nevada Project: New Resource Estimate in Progess - "Paramount Gold and Silver Corp. (AMEX:PZG - News)(TSX:PZG - News)(Frankfurt:P6G - News)(WKN: A0HGKQ) ("Paramount") announced today that assay results from 14 new core and reverse circulation drill holes at its 100% owned Sleeper Gold Mine Project in Nevada have likely expanded the project`s resources and enhanced its economic potential. A new NI 43-101 compliant resource estimate will now be prepared incorporating all available data. Completion of the resource estimate is expected in June, 2011." More
- March 07, 2011 | Item | ShareThis


Endeavour Silver Announces Transfer of Common Share Listing From NYSE Amex to the New York Stock Exchange - "Endeavour Silver Corp. (TSX:EDR - News)(AMEX:EXK - News)(DBFrankfurt: EJD) announced today that it has received approval to list its common shares on the New York Stock Exchange (NYSE). Trading is scheduled to commence on March 14, 2011 under the ticker symbol EXK." More
- March 07, 2011 | Item | ShareThis


Vista Gold Corp. Announces Repayment of Its 10% Senior Secured Convertible Notes due March 4, 2011 - "Vista Gold Corp. (TSX & NYSE Amex Equities: VGZ) ("Vista" or the "Corporation") is pleased to announce that it has repaid its U.S. $23 million principal amount of outstanding 10% senior secured convertible notes (the "Notes") (plus accrued interest) which matured on March 4, 2011. These payments were made using available cash and did not require any borrowing. Final cancellation of the Notes depends upon the completion of certain administrative duties of HSBC Bank USA, N.A. (the "Trustee"), pursuant to Article 8 of the note indenture, dated March 4, 2008 (the "Note Indenture"), among Vista, Vista's Mexican operating subsidiary, Minera Paredones Amarillos S.A. de C.V., as guarantor (which has subsequently changed its name to Desarrollos Zapal S.A. de C.V., the "Guarantor"), the Trustee and HSBC Mexico, S.A. De C.V., Institucion de Banca Multiple, Grupo Financiero HSBC, Division Fiduciaria, as collateral agent (the "Collateral Agent")." More
- March 07, 2011 | Item | ShareThis


Esperanza Provides Exploration Update - "The Colqui Orcco (Silver Hill) property consists of 700 hectares and is located in the department of Cusco. All permits have been received and site preparation has begun. Weather permitting, drilling will begin in mid-March." More
- March 07, 2011 | Item | ShareThis


Indonesia landslide slows access to Freeport mine - "A landslide has shut a tunnel that links Freeport-McMoRan Copper & Gold Inc.'s mine with the nearby village in Indonesia's province of Papua.

No one was injured in the landslide, which happened Saturday.

PT. Freeport Indonesia spokesman Ramdani Sirait said Monday that production at the world's largest gold and copper mine continues normally despite the landslide. Some miners were brought to work by helicopter, until bad weather grounded the choppers." More
- March 07, 2011 | Item | ShareThis


- Chris Mullen, Gold Seeker Report

 

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-- Posted 7 March, 2011 | |


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