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-- Posted 10 November, 2011 | |
| Close | Gain/Loss | Gold | $1759.10 | -$10.00 | Silver | $34.02 | +$0.03 | XAU | 205.59 | -0.44% | HUI | 582.00 | -0.70% | GDM | 1668.21 | -0.87% | JSE Gold | 3173.18 | -52.47 | USD | 77.64 | -0.22 | Euro | 136.06 | +0.61 | Yen | 128.76 | +0.20 | Oil | $97.78 | +$2.04 | 10-Year | 2.056% | +0.101 | T-Bond | 141.3125 | -1.40625 | Dow | 11893.86 | +0.96% | Nasdaq | 2625.15 | +0.13% | S&P | 1239.70 | +0.86% |
 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 almost 1% to $1753.70 in Asia before it rose to see a slight gain at $1775.07 in London and then plummeted all the way down to $1736.03 by midmorning in New York, but it then rallied back higher into the close and ended with a loss of just 0.57%. Silver climbed to $34.318 before it dropped down to $33.133 by about 10:30AM EST, but it also rallied back higher in late trade and ended with a gain of 0.09%. Euro gold fell to about €1293, platinum lost $7.20 to $1615.80, and copper fell 7 cents to about $3.37. Gold and silver equities ended with slight losses in mixed trade. The Economy: Report | For | Reading | Expected | Previous | Initial Claims | 11/05 | 390K | 400K | 400K | Trade Balance | Sep | -$43.1B | -$45.9B | -$44.9B | Import Prices | Oct | -0.6% | - | 0.0% | Import Prices ex-oil | Oct | -0.2% | - | 0.2% | Export Prices | Oct | -2.1% | - | 0.4% | Export Prices ex-ag. | Oct | -0.2% | - | 0.2% | Treasury Budget | Oct | -$98.5B | -$102.5B | -$140.4B |
30-year mortgage falls below 4% again MarketWatch Fed has latitude to set inflation goal: Bernanke MarketWatch Tomorrow at 9:55AM EST brings Michigan Sentiment for November expected at 61.3. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil rose as the U.S. dollar index fell on easing worries about Europe’s debt problems that sent the euro higher – “worries eased slightly Thursday after Italy sold $6.8 billion worth of debt at borrowing rates that were more favorable than analysts expected.” Treasuries fell as the Dow, Nasdaq, and S&P rose on decent economic data and relative calm in Europe. Among the big names making news in the market Friday were James Murdoch, Citigroup, HTC, and T-Mobile. The Commentary: “Gold failed to extend past the psychological level of $1,800 and is now moving lower towards the first level of chart support just above $1750 and extending down towards $1725 - $1720.
It was to be expected such a large rally in the US Dollar during today's session (Wednesday) would provide some strong headwinds to any move higher in gold. That and the fact that the CCI was hammered lower today as anything remotely resembling a risk trade was yanked off.
This evening, gold is moving lower as there is follow through selling across both the base metals and the precious metals with only slight weakness being seen in the Dollar. Clearly traders are concerned about the woes in Europe.
As long as any setback in gold holds ABOVE $1680, the pattern that will develop is more consistent with a market taking a breather. A drop below this level, that cannot recover it within the same session, will forebode a drop back towards $1640 - $1625.”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/ The Statistics: Activity from: 11/09/2011 Gold Warehouse Stocks: | 11,222,852 | -7,489 | Silver Warehouse Stocks: | 108,002,329 | +35,095 |
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 | 1267.153 | 40,740,229 | US$71,509m | 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$6,526m | 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$7,137m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 473,313 | US$804m | 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 3.026 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: No change from yesterday’s data. The Miners: Tanzanian Royalty’s (TRE) comments on recent trading action, Lake Shore’s (LSG) discovery, NovaGold’s (NG) drill results, Timberline’s (TLR) drill results, Nevsun’s (NSU) new COO, Aurizon’s (AZK) third quarter results, Ivanhoe’s (IVN) investment in Ivanhoe Australia, Pan American’s (PAAS) board changes, Aurcana’s (AUN.V) dismissed legal action, MAG Silver’s (MVG) updated mineral resource estimate, and Silver Standard’s (SSRI) third quarter results and reduction of its mineral resources and reserve were among the big stories in the gold and silver mining industry making headlines Friday. WINNERS 1. Lake Shore | LSG +10.97% $1.72 | 2. Comstock | LODE +10.05% $2.19 | 3. Gold Reserve | GRZ +3.87% $2.95 |
LOSERS 1. Tanzanian Royalty | TRE -41.52% $2.00 | 2. Silver Standard | SSRI -20.95% $15.13 | 3. Pan American | PAAS -4.70% $25.94 |
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: Garrison Welcomes Two New Directors - More
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Pan American Silver Announces Changes to Its Board of Directors - "Bill joined our Board of Directors when our Company was in its infancy. We are very grateful for the continuous dedication, support and advice he has given us throughout the past fourteen years. We will miss his sharp analysis and comprehensive understanding of commodities and international capital markets. There is no doubt that his experience and guidance was instrumental in helping to grow Pan American into a leading senior silver producer." More
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Niocan Inc.: Amendment Notice - More
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Northaven Announces Exciting Geophysical Results for Its Allco Gold-Silver Property and Investor Conference Call - More
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Solid Resources Investor Presentation Now Available Online - More
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Argus Assays up to 19.4 g/t Gold and over 300 g/t Silver at Iron King Project, Peru - More
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Rio Alto-Change of Year End & Release of First Quarter Results - More
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War Eagle Enters into Amalgamation Agreement with Andromeda Resources Inc. - More
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RT Minerals Corp. Announces Deep Drill Hole at Meunier JV Property, West Timmins, Ontario, Intersects Favourable Timmins Mine Fold Structure - More
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Northern Gold Strengthens Exploration and Development Team - More
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Erdene Commences Drilling at Altan Nar Epithermal Gold Project Southwest Mongolia - More
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Ucore Takes Part in Congressional Briefing on US Domestic Rare Earth Supply Chain - More
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Soldi Ventures Inc. to Commence Drilling on the Golden Bullet Project, Newfoundland - More
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Oremex Silver Initiates Underground Drilling Program at Chalchihuites - More
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Adventure Gold Inc.: Meunier-144 Deep Drilling First Results-Lake Shore Gold Discovers Potential 1.9 Kilometre Down Plunge Extension of Timmins Mine - More
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Merrex RC Drilling Intersects 19.09 g/t Over 8 Metres at Siribaya - More
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Tajiri Closes First Tranche of $1 Million Non-Brokered Private Placement - More
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Pinecrest Iniates Phase 1 Exploration on the Espiritu Polymetallic Vein/Breccia Property, Sonora, Mexico - More
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Drilling Commences at Urua Creek Copper-Gold Prospect - More
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PPM Resamples Drill Hole KUD007 for Native Copper Analysis at Kuliuta Copper-Gold Prospect - More
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Saturn Minerals Inc. Partners with Jameson Resources Ltd. for Exploration of the Red Earth Coal Property in Saskatchewan - More
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Puma Exploration Trenches Discover High Grade Silver and Gold Mineralization With up to 2,450 g/t Ag and 29.5 g/t Au at Nicholas-Denys, New Brunswick - More
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Del Toro Closes Private Placement for Proceeds of $75,000 USD - More
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Cardero Announces Senior Management Changes - More
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Uranerz Announces Third Quarter Financial Results - More
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El Tigre Silver Corp. Qualifies for OTCQX International in U.S. and Retains Roth Capital Partners - More
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Drilling Commences on Columbus Gold's White Horse Flats Project, Nevada - More
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Greenlight Stakes the Shear Mine Gold Occurrence, Historic Assays 17.14 g/t Au, New Brunswick, Canada - More
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Asia Now Receives Prospecting and Exploration Outstanding Achievements Award from the Chinese Ministry of Land and Resources - More
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B2Gold Reports on Third Quarter 2011 Results - More
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Surface Drilling at Klondex%u2019s Fire Creek Gold Property in North Central Nevada Produces Positive Results - More
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Luna Gold Corp. Reports Operational and Financial Results for the Three and Nine Months Ended September 30, 2011 - More
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Minera Andes Announces Third Quarter 2011 Financial Results - More
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Integra Gold Drilling and Corporate Update - More
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Update on Orvana Operations and Additional Gold Hedging - More
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Paladin Energy Ltd-September Quarter 2011 Conference Call and Investor Update-15 November 2011 - More
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BonTerra Resources Inc. : BonTerra Retains AGAT Labs for Validation Sampling on 15,000 Metre Drill Program in Quebec - More
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Salmon River Increases Previously Announced Private Placement - More
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Crocodile Gold Drilling Defines a Higher Grade Core at the Cosmo Underground Mine Including 8 Metres at 15.69 Grams Per Tonne Gold - More
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Cream Minerals Reports the Testing of a New Zone at Nuevo Milenio and Initial Exploration Drilling Results - More
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Creso Exploration Closes $930,000 Private Placement Financing - More
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Abzu Gold Announces New Ghanian Gold Discovery at Nangodi Property - More
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Redhill and Mutiny Agree to Amend Farm-In Agreement - More
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Double Crown Resources Changes Name From Denarii Resources to Reflect New Management and Expanded Business Plans - More
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Sandspring Resources Announces First Comprehensive Mineral Agreement in Guyanese Gold Sector Since 1991 - More
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Angus Mining (Namibia) Inc. Strategic and Corporate Update - More
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INV Metals Reports Q3/2011 Results - More
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U3O8 Corp's Infill Drilling Intersects 24m at 0.09% U3O8 at Aricheng West in the Kurupung Project, Guyana - More
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Quadra FNX Reports Earnings of $143 Million in Q3 2011 & Focuses on Core Assets - More
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Castle Resources Continues to Intersect High-Grade Copper Across a 1.2 km Strike Length at the Granduc Copper Project - More
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Tanzanian Royalty Comments on Recent Trading Action in Company's Shares - "Tanzanian Royalty Exploration (TSX: TNX.TO - News)(AMEX: TRX - News)wishes to report that there is no particular event other than a technical market situation that can explain the recent trading action in the Company's shares." More
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Lake Shore Gold Discovers Potential 1.9 Kilometre Down Plunge Extension of Timmins Mine Gold Mineralization - "Lake Shore Gold Corp. (TSX: LSG.TO - News)(AMEX: LSG.TO - News) ("Lake Shore Gold" or the "Company") today announced results from the Company's Hole M-10-05b, (known as the "Deep Hole"), which was designed to test the down plunge extension of the Timmins Mine and Thunder Creek ore bodies at vertical depths below 2,000 metres." More
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Aurcana Corporation: BC Supreme Court Dismisses Sprott Claim - "Aurcana Corporation (TSX-V:AUN.V - News) ("Aurcana" or the "Company") is pleased to advise on November 9, 2011, the Supreme Court of British Columbia pronounced reasons for judgment dismissing, with costs, the legal action commenced on April 15, 2011 by Sprott Asset Management LP ("SAM") and Sprott Resource Lending Partnership ("SLP") against the Company. The action involved claims in breach of contract, misrepresentation and unjust enrichment, among others, and related to two non-binding term sheets for debt financing entered into between the Company, SAM and SLP in 2010." More
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NovaGold Reports Important Drill Results at the Bornite Deposit on Its Recently Consolidated Ambler District, Alaska - "NovaGold Resources Inc. ("NovaGold" or the "Company") (TSX: NG.TO - News)(AMEX: NG.TO - News) is pleased to announce results from its initial exploration drilling program on the Bornite target located on the recently consolidated 180,000-hectare Upper Kobuk Mineral Property located in the Ambler mining district of Northwest Alaska. This campaign not only confirmed previous drill results by Kennecott Exploration Company and Kennecott Arctic Company (collectively "Kennecott"), subsidiaries of Rio Tinto, but also expanded the known extent of the mineralization. Bornite is located approximately 26 kilometers southwest of the Arctic deposit which hosts a high-grade copper and zinc mineral resource(1)." More
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MAG Silver Announces Updated Juanicipio Resource Estimate Prepared on Behalf of the Minera Juanicipio Joint Venture - "MAG Silver Corp. (TSX: MAG.TO - News)(AMEX: MVG - News) ("MAG" or the "Company") announces an independent updated mineral resource estimate for the Juanicipio Property authored by Strathcona Mineral Services Limited ("Strathcona") on behalf of the Minera Juanicipio Joint Venture. The Juanicipio Property, located in the Fresnillo District, Zacatecas State, Mexico, is owned and operated by Minera Juanicipio S.A. de C.V., a Mexican incorporated joint venture company held 56% by Fresnillo plc ("Fresnillo") and 44% by the Company. The updated mineral resource estimate is based on drill results available as of June 1, 2011 and used a physical cut-off grade of 100 grams per tonne ("g/t") of silver (100 g/t Ag). A National Instrument ("NI") 43-101 technical report documenting the mineral resource estimate will be filed on SEDAR within 45 days." More
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Timberline Extends High-Grade Zone at Butte Highlands by Drilling 51.8 Feet (15.8 Metres) Grading 0.43 Ounces of Gold per Ton (14.6 Grams per Tonne) - "Timberline Resources Corporation (TSX-V: TBR.V - News)(AMEX: TLR - News) ("Timberline" or the "Company") today announced continued drilling success from its 50,000-foot underground core drill program at the Butte Highlands Joint Venture Gold Project in southwestern Montana." More
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Nevsun Hires Chief Operating Officer - "Nevsun Resources Ltd. (TSX: NSU - News)(AMEX: NSU - News) is pleased to announce it will be adding Frazer Bourchier, P.Eng., to its senior management team as Chief Operating Officer." More
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Aurizon Reports Third Quarter 2011 Results - "We are very pleased with the results our team have delivered this quarter, and I thank them for their support and commitment. The operating performance at Casa Berardi continues to improve, and we are seeing greater margins as lower operating costs on a per ounce basis complement higher gold prices to realize an operating margin of US$1,198 per ounce for the quarter, an improvement of 233% over the corresponding period last year. This increased operating margin is improving all financial metrics significantly compared to corresponding periods. Our investment in the future of Casa Berardi is progressing well, with the shaft deepening in full swing and very encouraging exploration results from the 123 zone within the West Mine. We have also realized exploration success elsewhere at Fayolle and Marban, and are excited about the future potential for these projects. The optimization of the Joanna feasibility is progressing well, and a final study should be completed in second quarter 2012." More
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Significant $92 Million Investment in Ivanhoe Australia Concluded by Ivanhoe Mines - "Robert Friedland, Chairman, and Peter Reeve, Chief Executive Officer of Ivanhoe Australia Limited (TSX: IVA.AX - News)(ASX: IVA.AX - News), are pleased to announce that Ivanhoe Mines has completed its investment of approximately A$92 million continuing its strong commitment to support Ivanhoe Australia's development and exploration plans." More
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Silver Standard Reports Third Quarter 2011 Results and Lowers Pirquitas Mineral Resources & Reserve Estimate - "Silver Standard Resources Inc. (TSX: SSO.TO - News)(NASDAQ: SSRI - News) ("Silver Standard" or the "Company") reported unaudited financial and operating results for the third quarter ended September 30, 2011. The Company also disclosed a reduction of its mineral resources and reserve at the Pirquitas mine in Argentina." 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 10 November, 2011 | |
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