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-- Posted 9 November, 2011 | |
| Close | Gain/Loss | Gold | $1769.10 | -$14.50 | Silver | $33.99 | -$0.94 | XAU | 206.49 | -3.34% | HUI | 586.13 | -3.06% | GDM | 1682.90 | -2.93% | JSE Gold | 3225.65 | -0.44 | USD | 77.86 | +1.26 | Euro | 135.57 | -2.75 | Yen | 128.54 | -0.12 | Oil | $95.74 | -$1.10 | 10-Year | 1.955% | -0.110 | T-Bond | 142.71875 | +1.96875 | Dow | 11780.94 | -3.20% | Nasdaq | 2621.65 | -3.88% | S&P | 1229.11 | -3.67% |
 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 fell to $1777.90 by a little after 5AM EST before it rose to see a $16.01 gain at $1799.61 by about 9AM EST, but it then fell back off for most of the rest of trade and ended near its late session low of $1764.11 with a loss of 0.81%. Silver fell to as low as $33.80 and ended with a loss of 2.77%. Euro gold rose above €1305, platinum lost $32 to $1623, and copper fell 11 cents to about $3.44. Gold and silver equities fell throughout most of the afternoon and ended with about 3% losses. The Economy: Report | For | Reading | Expected | Previous | Wholesale Inventories | Sep | -0.1% | 0.5% | 0.1% |
Tomorrow at 8:30AM EST brings Import and Export Prices for October, Initial Jobless Claims for 11/05 expected at 400,000, and the Trade Balance for September expected at -$45.9 billion. At 2PM is the Treasury Budget for October expected at -$105.0 billion. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil briefly turned higher after the Energy Information Administration reported that crude inventories fell 1.4 million barrels, gasoline inventories fell 2.1 million barrels, and distillates fell 6.0 million barrels, but it still ended lower on the day after a late session sell off hit nearly all markets. The U.S. dollar index and treasuries rose while the Dow, Nasdaq, and S&P fell almost 4% on renewed worries about Europe’s debt problems as Italian bond yields spiked above 7%. While markets were calmed yesterday when Berlusconi announced that he would resign once a budget is passed, doubts arose today as to whether or not he would actually do so, and the market is now seeking an immediate resignation. Among the big names making news in the market Friday were Olympus, Goldman Sachs, GM, Activision, Adobe, HSBC, and Toyota. The Commentary: “Traders/investors looking to take a defensive posture in the equity markets continue to see the mining sector as a place in which to find some temporary shelter. While the HUI is getting pulled lower today alongside the entirety of the US equity markets, the sector is holding in relation to the broader market.
A good trade has been to spread the miners against the S&P, a trade which I mentioned here some time ago would be a winner for the hedge funds instead of the shortsighted spread trade involving the bullion markets and the mining shares. The hedgies were able to play that trade and profit from it for a while but they overstayed their time with it as investors began warming to the solid profits being generated by many of the mining companies. It also did not hurt the bullish cause to see some of the gold miners increasing their dividend payout. For a look at the HUI in isolation, you can see that the index has filled the former gap region but failed to rally through the top of that gap and hold above that level. It should find some additional buying support back down at the bottom of this same gap near the 570 level if the dip buyers are going to still feel comfortable committing capital to the sector in the midst of this instability in Europe.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/ The Statistics: Activity from: 11/07/2011 Gold Warehouse Stocks: | 11,231,048 | +1,936 | Silver Warehouse Stocks: | 107,999,234 | -382,274 |
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 | 1264.127 | 40,642,945 | US$72,477m | 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$6,643m | 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$7,269m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 473,318 | US$818m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 42.47 | 1,365,405 | US$2,433m | NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,946 | US$9m |
Note: Change in Total Tonnes from yesterday’s data: SPDR added 8.473 tonnes. COMEX Gold Trust (IAU) Total Tonnes in Trust: 168.44: No change from yesterday’s data. Silver Trust (SLV) Total Tonnes in Trust: 9,783.71: +25.72 change from yesterday’s data. The Miners: SEMAFO’s (SMF.TO) third quarter results, Kirkland’s (KGI.TO) royalty payment, AngloGold’s (AU) third quarter results, Timmins Gold’s (TGD) second quarter results, Silvermex’s (SLX.TO) achieved capacity, First Majestic’s (AG) third quarter results, Silver Wheaton’s (SLW) third quarter results and dividend, Silvercorp’s (SVM) dividend, and Pan American Silver’s (PAAS) third quarter results and dividend were among the big stories in the gold and silver mining industry making headlines Friday. WINNER 1. Comstock | LODE +0.51% $1.99 |
LOSERS 1. Mines MGMT | MGN -10.04% $2.15 | 2. Golden Minerals | AUMN -9.86% $7.86 | 3. Lake Shore | LSG -9.84% $1.55 |
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: AndeanGold Announces TSX Venture Exchange Approval to the Extension of Warrants Expiring on October 6 and 22, 2011 - More
- November 09, 2011 | Item | ShareThis
Victory Resources Corporation - Non Brokered Private Placement Arranged - More
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Luna Gold-Unsuccessful Robbery Attempt at Aurizona Gold Mine - More
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Largo Resources Receives Final Commitment from Commercial Banks for US$150 Million Financing for the Maracas Vanadium Project, Bahia, Brazil - More
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TVI Pacific Inc. Sells Alaska Oil Assets - More
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Molycorp Declares Preferred Dividends - More
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Yukon-Nevada Gold Corp. Announces 3rd Quarter Summary and Outlook Webcast - More
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Wealth Minerals Closes $1,150,000 Loan - More
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White Tiger Mining Corp.: Marshall Lake Property Drilling Intersects 100 m of 0.24% Copper, 0.9 Grams/Tonne Silver, Including 20 m of 0.59% Copper - More
- November 09, 2011 | Item | ShareThis
Coronet Hires Dorsey & Whitney for OTCQX Quotation - More
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Sona Closes $600,000 Flow-Through Financing - More
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Anconia Reexamines Gold Assay Values at Its RB Property and Provides Exploration Update - More
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GreenLight Completes 43-101 on Heavy REE, Base Metal Property New Brunswick Canada - More
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Revett Announces Q3 Earnings Release Date and Conference Call Information - More
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Comstock Metals Soil Sampling Returns 0.396 g/t Gold in the QV Claims, White Gold District, Yukon - More
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Treasury Metals Announces New Resource Estimate at Goliath Gold Project: Indicated Resource Increases By More Than 200% - More
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GoldQuest Mining Corp. (TSX VENTURE: GQC) Announces That It Will Commence a New 1,200 Meter Drill Program on Its 100% La Escandalosa Property - More
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Millrock Intersects Intrusion-Related Gold System at Estelle Project, Alaska - More
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Platinex Exposes 29g/t Au in Surface Sampling, Shining Tree, Ontario - More
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Explor Cancels Repricing of Stock Options - More
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Afri-Can and Deep-South Engage Jennings Capital as Financial Advisor - More
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North Arrow Intersects 7.55 m Grading 4.91 g/t Gold at Hope Bay Oro Project, Nunavut - More
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Hinterland Samples up to 2474ppm REE in Soils at Kipawa, Quebec - More
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Xtra-Gold Intercepts 62 Metres of 1.57 g/t Gold, Including 42 Metres of 2.00 g/t Gold; and 41 Metres of 1.62 g/t Gold, Including 20 Metres of 2.18 g/t Gold - More
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SEMAFO Reports Record Third Quarter Revenues, Operating Income and Margin - "Our 2011 third quarter revenues increased by 19% over the same period last year, to attain $102.3 million. Operating income was $40.8 million for the quarter, an increase of 7% year over year and 15% for the first nine months of the year compared to the same period in 2010. Our net income of $31.3 million for the quarter brings our year-to-date total to $84.6 million, a 13% increase over the first nine-month period of 2010. During the quarter, cash flow from operating activities amounted to $43.1 million or $0.16 per share." More
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Gold Bullion retains SGS Canada Inc. - Geostat as independent consultant on its Granada Property - More
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Kobex Appoints Chief Financial Officer - More
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Knight Signs Letter of Intent - More
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Largo Resources Awaiting Final Confirmation of Commitment from Commercial Banks for US$150 Million Financing for the Maracas Vanadium Project, Bahia, Brazil - More
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Petaquilla Minerals Ltd. Commences On/Off Leach Operations - More
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Savant Receives US$180,000 Option Payment for Yuby-Gabriela Property - More
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Marifil Receives $125,000 Payment for El Carmen - More
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Gryphon Gold Provides Update on Production - More
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Ucore Awards Contracts for Preliminary Economic Assessment - More
- November 09, 2011 | Item | ShareThis
Avalon Provides Update on Metallurgy, Drilling and Permitting for the Nechalacho Heavy Rare Earth Deposit, Thor Lake, NWT - More
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Source Enters Into Letter of Intent for Capricho Gold-Silver-Copper Property, Sinaloa, Mexico - More
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Hall Beach Community Supports Advanced Explorations' Roche Bay Iron Project - More
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Metallurgy Results Support In-Situ Recovery at Excelsior's Gunnison Project - More
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Silvermex's La Guitarra Mine Achieves Full Capacity of Production Ahead of Schedule - "Silvermex Resources Inc. ("Silvermex") (TSX: SLX.TO - News) announces that full capacity of production has been reached at its La Guitarra mine, in the Temascaltepec mining district of Mexico, located 130 km southwest of Mexico City in the State of Mexico. Production for the third quarter of 2011 was 24,820 tonnes, a 53% increase from Q2 2011." More
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Fission Energy Corp.: PLS Property Advanced to Drill Stage - More
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Santa Fe Gold Reports Strong Operating Results for September Quarter - More
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Bravura Ventures Corp. Announces Appointment of New Officers - More
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Mercator Minerals to Hold Third Quarter 2011 Financial Results Conference Call/Webcast on November 15, 2011 - More
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First Majestic Silver Corp.: Earnings Hit $27.8 Million in Third Quarter - "The newly expanded 2011 and was deemed commercial less than 30 days later on October 1, 2011. The expansion of the cyanidation circuit is continuing well with progress now reaching approximately 90% completion. Construction is expected to complete with start-up commencing later in November 2011. The new leaching tanks are now completed and the new counter current thickeners are almost complete pending the installation of the mechanisms. Once fully operational, the older 425 tpd cyanidation circuit will be replaced with this new state-of-art 1,000 tpd circuit expected by the first quarter of 2012. Also, the new 115,000 Kw power line is expected to be completed also in November which is required to run the entire plant." More
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Strategic Metals Ltd. Agrees to Sell Royalty Interests - More
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Probe Mines Announces Additional Assay Results for its Borden Lake Gold Project: Infill and Deeper Drilling Continue to Intersect Thick Gold Zone - More
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Bold Ventures Inc. and Rencore Resources Ltd. Enter Into Binding Letter Agreement Regarding Proposed Merger - More
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Goldstrike Discovers Drill Ready Gold Zones at Livingstone - More
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Cayden Commences Drilling at the Las Calles Target on the Morelos Sur Gold Property and Provides Project Update - More
- November 09, 2011 | Item | ShareThis
Platinum Group Metals Announces a New Discovery Extending the North Limb of the Bushveld Complex - More
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Excalibur Completes Cariboo Property Exploration Program - More
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Halo Resources Ltd.: New Gold Focus at Sherridon Property - More
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Vaaldiam Reports 2011-Q3 Financial Results - More
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ECPN Prepares to Enter into Relationship with Investment Banker - More
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Mineral Mountain's Cook Zone Intersected 450 Meters Below Surface in Shining Tree Area, Ontario - More
- November 09, 2011 | Item | ShareThis
Driven Channel-Samples 0.79m @ 5,888 g/t Silver at Lyn - More
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Result From Malaga Drilling Come Up Better Than Previously Announced - More
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Silver Wheaton Revenues and Operating Cash Flows Double in the Third Quarter - "Another quarter of increased silver equivalent sales, along with strong silver prices, produced solid financial results," said Randy Smallwood, Silver Wheaton's President and Chief Executive Officer. "During the quarter, several of our partners' mines continued their focus on ramping up silver production, including Goldcorp's Peñasquito mine, which had record throughput levels in the month of September. As a result, we remain confident of achieving our 2011 production guidance of between 25 and 26 million silver equivalent ounces." More
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Silver Wheaton Revenues and Operating Cash Flows Double in the Third Quarter - "Another quarter of increased silver equivalent sales, along with strong silver prices, produced solid financial results," said Randy Smallwood, Silver Wheaton's President and Chief Executive Officer. "During the quarter, several of our partners' mines continued their focus on ramping up silver production, including Goldcorp's Peñasquito mine, which had record throughput levels in the month of September. As a result, we remain confident of achieving our 2011 production guidance of between 25 and 26 million silver equivalent ounces." More
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Silver Wheaton Announces Dividend Triples in Current Quarter Based on New Dividend Policy Linked to Operating Cash Flows - "Silver Wheaton Corp. ("Silver Wheaton" or the "Company") (TSX:SLW.to - News)(NYSE:SLW - News) is pleased to announce that its Board of Directors has adopted a new dividend policy that links quarterly dividend payments to operating cash flows in the prior quarter. Commencing immediately, the quarterly dividend per common share will be equal to 20% of the cash generated by operating activities in the previous quarter divided by the Company's outstanding common shares at the time the dividend is approved, all rounded to the nearest cent." More
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Stroud Resources Refiles Second Quarter 2011 Statements With Additional IFRS Disclosures - More
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Silvercorp Increases Dividend by 25%; Announces Second Quarter Dividend of CAD$0.025 - "Silvercorp Metals Inc. (TSX: SVM.TO - News)(NYSE: SVM.TO - News) ("Silvercorp" or the "Company") today announced that its Board of Directors has increased the amount of its quarterly dividend by 25%, from CAD$0.02 per share (CAD$0.08 annualized) to CAD$0.025 per share (CAD$0.10 annualized). The Company first began paying dividends in 2007 with an annual dividend of $0.05." More
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Canadian Zinc Reports on Deep Drilling Exploration Program - More
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Habanero Commences Operations on "Grande-Vallée North" Aluminous Clay Prospect in Quebec - More
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Pan American Silver Declares Fourth Quarterly Dividend of 2011 - "The cash dividend, in the amount of $0.025 per share, will be distributed on or about Monday, December 5, 2011 to holders of record of common shares as of the close of business on Monday, November 21, 2011. Specific distribution dates and amounts of future dividends will be determined by the Board on an ongoing basis." More
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Kirkland Lake Gold Completes Final Payment on 4% Net Smelter Royalty - "Kirkland Lake Gold Inc. ('Kirkland Lake' or the 'Company') (TSX: KGI.TO - News)(AIM: KGI.TO - News), an operating and exploration gold mining company located in Ontario, Canada, is pleased to announce it has now paid in full the $15 million net smelter royalty payable to Kinross Gold Corporation." More
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Orosur Mining Inc. Receives Water Exploration Permit for Pantanillo Project in Chile - More
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AngloGold Ashanti Q3 Profit at Record $457m; Raises Dividend - "Adjusted headline earnings in the three months to September 30 rose 34% to $457m, or 118 US cents a share, compared with $342m, or 89 US cents the previous quarter. The Continental Africa operations were a significant contributor, with Geita the largest contributor at 149,000oz at a cash cost of $473/oz." More
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Pan American Silver Reports a 66% Increase in Adjusted Net Earnings for the Third Quarter of 2011 - "As a consequence of the volatile commodities and currency markets during the third quarter, we took a $12.5 million foreign exchange loss on our Canadian dollar cash balances and a $5.1 million negative adjustment on previously recognized concentrate sales. Even with these negative impacts, we still had a very respectable production quarter and once again generated strong earnings and cash flows." Burns added, "It is nice to see that in the face of this volatility the silver price has demonstrated significant resilience, having again rebounded to $34 per ounce; a price that certainly allows us to continue to generate healthy financial returns and build our cash balances in anticipation of the development of the world class Navidad silver project." More
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Timmins Gold Reports Financial Results for its Second Quarter Ended September 30, 2011 - "Timmins Gold Corp. (TSX:TMM)(NYSE Amex:TGD) is pleased to report its second quarter ("Q2") ended September 30, 2011 financial results. All results are presented in United States dollars ("US Dollars" or "USD") unless otherwise stated. The Company is changing its year end from March 31 to December 31, and will report Q3 results as year ended and nine months ended results to December 31, 2011." More
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- 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 9 November, 2011 | |
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