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-- Posted 7 November, 2011 | |
| Close | Gain/Loss | Gold | $1797.30 | +$41.70 | Silver | $34.97 | +$0.85 | XAU | 215.30 | +3.03% | HUI | 609.44 | +3.18% | GDM | 1752.57 | +3.03% | JSE Gold | 3226.39 | +123.22 | USD | 76.93 | -0.04 | Euro | 137.76 | -0.18 | Yen | 128.13 | +0.31 | Oil | $95.52 | +$1.26 | 10-Year | 1.994% | -0.056 | T-Bond | 142.00 | +1.00 | Dow | 12068.39 | +0.71% | Nasdaq | 2695.25 | +0.34% | S&P | 1261.12 | +0.63% |
 Magellan Minerals Ltd. (TSX-V: MNM) is a well-financed, Canadian-based junior exploration company focused on mineral exploration and development in the state of Para in northern Brazil. The Company has interests in a number of properties in the Tapajos region which has a historic gold production estimated at 20-30Moz of gold. The Company has two advanced gold projects, Cuiu Cuiu and Coringa, a 1.7Moz gold resource, and is currently drilling with six rigs. More
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The Metals: Gold rose almost 1% in early Asian trade before it fell back to $1762.00 at about 4:45AM EST, but it then rallied back higher for most of the rest of trade and ended near its late session high of $1798.18 with a gain of 2.38%. Silver fell almost 1% to $33.83 by about 3:30AM EST, but it also rallied back higher for most of the rest of trade and ended near its late session high of $34.973 with a gain of 2.49%. Euro gold rose to about €1304, platinum gained $25.50 to $1654, and copper remained at about $3.57. Gold and silver equities rose about 2% at the open, added to their gains in afternoon trade, and ended with over 3% gains. German econ min: gold reserves cannot be touched Reuters The Economy: Report | For | Reading | Expected | Previous | Consumer Credit | Sep | $7.4B | $5.0B | -$9.7B |
Revised govt formula shows new poverty high: 49.1M Yahoo U.S. home prices down 1.1% in Sept: CoreLogic MarketWatch US wealth gap between young and old is widest ever Yahoo Inside Room 200, home of the "super committee" Reuters There are no major economic reports due out tomorrow. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil rose on renewed geopolitical worries about Iran's nuclear program as the IAEA is due to report this week about their recent activities. The U.S. dollar index and the euro waffled near unchanged as easing worries about Greece were offset by increasing concerns about Italy. Treasuries rose on incessant fears about Europe’s debt problems. The Dow, Nasdaq, and S&P ended decently higher in mixed trade as traders waited for more headlines out of Europe. Among the big names making news in the market today were Fannie and Freddie, Dish Network, UPS, Citigroup, Delphi Automotive, Jefferies, Best Buy, and Buffet. The Commentary: “Mining shares are getting a very strong bid in today's session taking the HUI up sharply through the 600 level, a psychological resistance level. As you can see on the chart, the index is moving ever closer to the top of the recent chart gap created last month when the shares were sold off during a downdraft in both the gold and silver bullion markets. I would expect the perma bears in the shares to try to make an effort to hold the index BELOW this resistance level. If they fail, I believe there will be enough momentum in the sector to mount a move back to the recent all-time high.
Downside support is back at the bottom of the gap and is noted. Note how the miners are continuing to outperform the broader equity markets today as they have done so over the last month.
Also note the much longer term monthly ratio chart I have constructed showing the performance of this sector against the broader US equity market over the last decade+.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/ GATA Posts: 
The more Western central banks pound gold down, the more China buys German economy minister concurs that gold can't be touched Gene Arensberg: Bargain, bargain, bargain! European bailout fund reported to want to grab Germany's gold The Statistics: Activity from: 11/04/2011 Gold Warehouse Stocks: | 11,229,112 | +16,814 | Silver Warehouse Stocks: | 108,381,508 | +15,361 |
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 | 1245.064 | 40,030,042 | US$71,305m | London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) | Gold Bullion Securities | 115.35 | 3,708,632 | US$6,638m | London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam | ETFS Physical Gold | 126.23 | 4,058,350 | US$7,264m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 473,329 | US$821m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 42.47 | 1,365,480 | US$2,380m | NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,946 | US$9m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 1.513 tonnes. COMEX Gold Trust (IAU) Total Tonnes in Trust: 168.09: +2.73 change from yesterday’s data. Silver Trust (SLV) Total Tonnes in Trust: 9,770.09: No change from yesterday’s data. The Miners: Goldcorp’s (GG) dividend, ITH’s (THM) drill results, Richmont’s (RIC) third quarter results, Allied Nevada’s (ANV) third quarter results, New Gold’s (NGD) definitive arrangement agreement with Silver Quest, Aurcana’s (AUN.V) third quarter results, Hecla’s (HL) update on the progress of its pre-development initiatives, and Coeur’s (CDE) third quarter results were among the big stories in the gold and silver mining industry making headlines today. WINNERS 1. Golden Star | GSS +8.22% $2.37 | 2. Silver Standard | SSRI +7.88% $20.82 | 3. Coeur | CDE +7.63% $29.33 |
LOSERS 1. Entree | EGI -4.28% $1.79 | 2. Kimber | KBX -3.65% $1.32 | 3. Mines MGMT | MGN -2.73% $2.49 |
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: Fancamp Exploration Ltd.: Fermont Update-Fire Lake North Property - More
- November 07, 2011 | Item | ShareThis
McLaren Options Exploration Property Adjacent to Hollinger and McIntyre Mines Timmins, Ontario, Canada - More
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Chieftain Metals General Progress Report on Tulsequah Chief Project - More
- November 07, 2011 | Item | ShareThis
Wedge Provides an Update of the Arrangement with Undur Tolgoi Minerals Inc. and Announces Filing of a Revised Technical Report - More
- November 07, 2011 | Item | ShareThis
Toron Inc. to Focus on Eastern Canadian Mining Opportunities - More
- November 07, 2011 | Item | ShareThis
Compass Gold Corporation Undertakes C$3,500,000 Private Placement - More
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Shelron Group Enters Into Gold Exploration in Northern Chile - More
- November 07, 2011 | Item | ShareThis
Southern Silver Acquires Land for Millsite at Cerro Las Minitas and Arranges Financing - More
- November 07, 2011 | Item | ShareThis
Conquest Reports Additional Gold Intersections at its Smith Lake Property - More
- November 07, 2011 | Item | ShareThis
Eastmain Resources Inc.: Clearwater Project-Filling the Gap - More
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Geodex Increases Private Placement to C$650,000 - More
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Initial NI 43-101 Resource Estimate for its 100% Tabuaço Tungsten Project, Northern Portugal - More
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Dawson Gold Appoints New Directors to the Board - More
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SIRIOS Resources Inc.: Clarifications on Khalkos' Share Distribution - More
- November 07, 2011 | Item | ShareThis
Treasury Metals-Pico Machay Gold Project Update - More
- November 07, 2011 | Item | ShareThis
SEMAFO: Mana Underground Development Progress Report - More
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Cadan Announces Mining Group Limited to Acquire Significant Interest in Comval Project - More
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Antioquia Gold Intersects 18.57 g/t Au Over 3.0 Meters at the Guayabito Deposit, Cisneros Project, Colombia - More
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Goldstrike Discovers Visible Gold Grading 4.65 Ounces Per Ton (159.5 Grams Per Tonne) on Yellow Giant - More
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High grade gold intercepts at the Zara Project - More
- November 07, 2011 | Item | ShareThis
Barisan Gold Announces the Following Appointments - More
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Arianne Resources Presents the Highlights of the Lac a Paul Project Prefeasibility Study on November 8, 2011 - More
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Force Expands Lithium Resource on Zoro 1 Property - More
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MDN Reports its Financial Results for Q3 2011 Profitable Third Quarter - More
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Golden Dawn Minerals Inc. And Hi Ho Silver Resources Inc. to commence drilling on the Royal Atwood property, British Columbia, Canada - More
- November 07, 2011 | Item | ShareThis
New America Energy Corp. Acquires Reconnaissance Gravity Survey on Clayton Ridge Lithium Prospect - More
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Centurion Reports Initial Drill Results From its Badak Property Northern Sumatra, Indonesia - More
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Strathmore Receives Milestone Payment From Juniper Ridge Property Sale - More
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Argentex's Marta Este Vein Returns 6.0 Meters of 1.78 g/t Au and 470.3 g/t Ag at Pinguino Project - More
- November 07, 2011 | Item | ShareThis
Empire Mining Places Bulqiza Chromite Project on Care and Maintenance - More
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Selwyn Expands Scope of Feasibility Study - More
- November 07, 2011 | Item | ShareThis
Osisko Releases Inferred Resource Update for the Hammond Reef Project - More
- November 07, 2011 | Item | ShareThis
Titan Iron Ore Corp. Retains Wolfe Axelrod Weinberger Associates LLC. as Its Investor Relations Agency - More
- November 07, 2011 | Item | ShareThis
Iron Creek starts drilling at the Pampa Sur gold-silver project, Chile - More
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Copper Mountain announces third quarter conference call details - More
- November 07, 2011 | Item | ShareThis
Amarc Commences Delineation Drilling at the Newton Gold Project, British Columbia - More
- November 07, 2011 | Item | ShareThis
Sandstorm Gold Announces 13.00 Meters @ 33.63 g/t Au Including 4.00 Meters @ 104.83 g/t Au at Luna Gold's Aurizona Mine - More
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Luna Gold Drills 13.00 Meters @ 33.63 g/t Au Including 4.00 Meters @ 104.83 g/t Au at Aurizona - More
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Ridgemont Appoints Former Iron Ore Company General Manager as CEO - More
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Colombia Crest Gold Closes Private Placement With IAMGOLD - More
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Lone Star Gold, Inc. Announces Commencement Date for La Candelaria Gold-Silver Project Drilling - More
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Silver Horn Mining Ltd. Completes Preliminary Exploration in the Wallapai Mining District; Vein Samples Average 6.87 oz/ton - More
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Uracan Upgraded Double S Resource Filed on Sedar, Completion of Summer Drilling Program - More
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Amerigo Announces Q3-2011 Financial Results - More
- November 07, 2011 | Item | ShareThis
Intrepid Mines Limited Appoints Executive General Manager, Exploration and New Business - More
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Cardero Increases Non-Brokered Private Placement - More
- November 07, 2011 | Item | ShareThis
First Point Minerals Discovers Nickel-Iron Alloy Mineralization in Yukon - More
- November 07, 2011 | Item | ShareThis
Cameco Reports Third Quarter Financial Results - More
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Canadian Orebodies Announces Fourth Set of Drill Results from Haig Inlet Iron Ore Project - More
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Canstar Resources Wins Mary March Property Dispute; Vinland Drops Appeal - More
- November 07, 2011 | Item | ShareThis
Champion Minerals Announces Start of Feasibility Definition-Drilling at Fire Lake North Project, Fermont, Quebec - More
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San Marco Acquires Gold/Silver Prospect in the "Megashear" of Sonora State, Mexico and Commences Drilling at Tecomate - More
- November 07, 2011 | Item | ShareThis
Hana Mining Ltd.: Infill Drilling Again Encounters Consistent High-Grade Copper-Silver Mineralization Along the North Limb of the Banana Zone - More
- November 07, 2011 | Item | ShareThis
Mineral Mountain Resources Ltd. Announces Drilling Results From Kootenay Arc Project, British Columbia and Provides Exploration Update - More
- November 07, 2011 | Item | ShareThis
Prodigy Gold Testing Confirms SAG Milling Option for Magino - More
- November 07, 2011 | Item | ShareThis
Yukon-Nevada Gold Corp. Announces Third Quarter Results for 2011 - More
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The Graystone Company Announces Its Acquisition of Its Initial Concession in Peru - More
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Andina Minerals Announces Appointment of W. Robert Rose as Chief Operating Officer - More
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Goldcorp declares eleventh monthly dividend payment for 2011 - "GOLDCORP INC. (TSX:G.to - News) is pleased to declare its eleventh monthly dividend payment for 2011 of $0.034 per share. Shareholders of record at the close of business on Thursday, November 17, 2011 will be entitled to receive payment of this dividend on Friday, November 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
- November 07, 2011 | Item | ShareThis
Aurcana Reports Record 3rd Quarter Results - "The Company had earnings from mining operations of $6.8 million for the quarter ended September 30, 2011 (2010: $2.1 million); income before taxes of $4.3 million (2010: $1.2 million); a net income of $3.8 million (2010: $1.2 million). For the six months ended September 30, 2011 the Company had earnings from mining operations to $17.5 million (2010: $3.4 million); income before taxes to $7.6 million (2010: a loss of $0.7 million); a net income of $6.1 million (2010: a loss of $0.7 million)." More
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New Gold and Silver Quest Resources Execute Definitive Arrangement Agreement - "New Gold Inc. ("New Gold") (TSX:NGD.to - News) (AMEX:NGD - News) and Silver Quest Resources Ltd. ("Silver Quest") (TSX.V:SQI) today jointly announce that they have entered into a definitive arrangement agreement (the "Arrangement Agreement") which replaces and supersedes the previously announced (October 17, 2011) letter agreement between the companies. Under the terms of the Arrangement Agreement, New Gold will acquire, under a plan of arrangement, all of the outstanding shares of Silver Quest (the "Arrangement"). Pursuant to the Arrangement, Silver Quest shareholders will receive 0.09 of a New Gold share and $0.0001 in cash for each Silver Quest share held and one common share in a new precious metals-focused exploration company, Independence Gold Corp. ("Independence Gold") (formerly referred to as McIntyre Minerals Inc.), for every three Silver Quest shares held." More
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International Tower Hill Encounters Additional Higher Grade Gold Mineralization and Advances Target Definition Work at the Livengood Project, Alaska - "International Tower Hill Mines Ltd. ("ITH" or the "Company") (TSX: ITH.TO - News)(AMEX: THM - News)(Frankfurt: IW9) announces results from 92 drill holes completed since June 2011 at its Livengood project located near Fairbanks, Alaska. New results from close-spaced infill drilling in the Core and Sunshine Zones confirm resource estimates based on wider spaced-drilling. This, and other infill drilling, also encountered locally higher grade mineralization. Highlights include hole MK-RC-531 which intercepted 17.27 g/t gold over 4.6 metres in the Sunshine Zone, hole MK-RC-522 which intercepted 8.0 g/t gold over 4.6 metres in the Core Zone and hole MK-RC-537 which intercepted 8.7 g/t gold over 3.1 metres in the Tower Zone. These findings enable the Company to define the higher grade zones in the Livengood gold deposit which may be targeted during the initial phase of mining." More
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Richmont Mines Reports Solid Revenue and Earnings Growth in the Third Quarter of 2011 - "Overall we are very satisfied with our results this quarter, with net earnings of $6.1 million, a significant improvement over last year's $2.5 million. We also generated an operating cash flow of $12.0 million and saw our cash position increase by $5.5 million in the quarter, highlighting that our operations continue to perform well. We are also pleased with the advancements made in our exploration efforts during the third quarter. In particular, our program on Wasamac continued to generate favourable results, and as a result we expanded our 2011 drill campaign to 45,000 metres from 35,000 metres previously." More
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Hecla Provides Update on Pre-Development and Exploration Initiatives - "Hecla Mining Company (“Hecla”) (NYSE:HL) is pleased to provide an update on the progress of its pre-development initiatives for the Star (Silver Valley – Idaho), San Juan Silver JV (Creede – Colorado) and San Sebastian (Durango – Mexico) projects, and third quarter exploration results." More
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Coeur Posts All-Time Record Quarterly Sales and Operating Cash Flow - "Coeur d’Alene Mines Corporation (NYSE:CDE - News) (TSX:CDM.to - News) sold 6.2 million ounces of silver and 67,391 ounces of gold, leading to $343.6 million in sales and $151.0 million in operating cash flow1 during the third quarter of 2011." More
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Allied Nevada Reports Q3 2011 Net Income of $14.7 Million ($0.16/Share) - "Gold production in the third quarter of 2011 of 26,339 ounces was below expectation, while silver production of 121,264 ounces for the third quarter continued to exceed expectation. Gold production in the third quarter was impacted by delays in receipt of additional equipment to increase the pumping capacity of solution to upper lifts of the leach pad. This eight-week delay has resulted in the mine being approximately 15,000 ounces behind schedule on gold production. Similarly, year-to-date gold production is below expectation. The mine reported no safety or environmental incidents in the first nine months of 2011 and, as of October 2011, the mine has achieved two full years without a lost time accident." More
- November 07, 2011 | Item | ShareThis
- Chris Mullen, Gold Seeker Report - Would you like to receive the Free Daily Gold Seeker Report in your e-mail? Click here Additional Resources for today’s Gold Seeker Report can be found: © Gold Seeker 2011 Note: This article may be reproduced provided the article, in full, is used and mention to Gold-Seeker.com is given. Disclosure: The owner, editor, writer and publisher and their associates are not responsible for errors or omissions. The author of this report is not a registered financial advisor. Readers should not view this material as offering investment related advice. Gold-Seeker.com has taken precautions to ensure accuracy of information provided. Information collected and presented are from what is perceived as reliable sources, but since the information source(s) are beyond Gold-Seeker.com’s control, no representation or guarantee is made that it is complete or accurate. The reader accepts information on the condition that errors or omissions shall not be made the basis for any claim, demand or cause for action. Past results are not necessarily indicative of future results. Any statements non-factual in nature constitute only current opinions, which are subject to change. Nothing contained herein constitutes a representation by the publisher, nor a solicitation for the purchase or sale of securities & therefore information, nor opinions expressed, shall be construed as a solicitation to buy or sell any stock, futures or options contract mentioned herein. Investors are advised to obtain the advice of a qualified financial & investment advisor before entering any financial transaction.
-- Posted 7 November, 2011 | |
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