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-- Posted 16 November, 2011 | |
| Close | Gain/Loss | Gold | $1762.90 | -$18.80 | Silver | $33.70 | -$0.84 | XAU | 205.19 | -1.95% | HUI | 585.22 | -1.65% | GDM | 1671.49 | -1.72% | JSE Gold | 3218.94 | +1.09 | USD | 78.23 | +0.29 | Euro | 134.71 | -0.65 | Yen | 129.84 | +0.03 | Oil | $102.59 | +$3.22 | 10-Year | 2.024% | -0.033 | T-Bond | 142.125 | +0.625 | Dow | 11905.59 | -1.58% | Nasdaq | 2639.59 | -1.73% | S&P | 1236.91 | -1.66% |
 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 $19.32 to $1762.38 in Asia before it climbed back to almost unchanged at $1778.99 by about 7:25AM EST and then dropped all the way to $1753.52 by a little after 10AM, but it then rallied back higher midday and ended with a loss of just 1.06%. Silver saw a slight gain at $34.605 in London before it fell all the way to $33.622 in New York and ended with a loss of 2.43%. Euro gold fell to about €1308, platinum lost $19.85 to $1614.65, and copper fell a couple of cents to about $3.48. Gold and silver equities fell about 2% at the open before they rallied back to about unchanged by early afternoon, but they then fell back off in late trade and ended with over 1% losses. The Economy: Report | For | Reading | Expected | Previous | MBA Mortgage Index | 11/12 | -10.0% | - | 10.3% | CPI | Oct | -0.1% | 0.0% | 0.3% | Core CPI | Oct | 0.1% | 0.1% | 0.1% | Net Long-Term TIC Flows | Sep | $68.6B | - | $58.0B | Industrial Production | Oct | 0.7% | 0.4% | -0.1% | Capacity Utilization | Oct | 77.8% | 77.7% | 77.3% | NAHB Housing Market Index | Nov | 20 | 18 | 17 |
Tomorrow at 8:30AM EST brings Initial Jobless Claims for 11/12 expected at 398,000, Housing Starts for October expected at 604,000, and Building Permits expected at 603,000. At 10AM is the Philadelphia Fed for November expected at 7.5. The Markets: 
Charts Courtesy of http://finance.yahoo.com/ Oil remained higher after the Energy Information Administration reported that crude inventories fell 1.1 million barrels, gasoline inventories rose 1.0 million barrels, and distillates fell 2.1 million barrels. News about a pipeline alleviating supply bottlenecks to the Cushing, Oklahoma delivery point sent prices above $100 a barrel earlier in the day. The U.S. dollar index and treasuries rose as the Dow, Nasdaq, and S&P fell on uncertainty about Europe and the global economy. Among the big names making news in the market Friday were Dell, Fannie, Freddie, MF Global, JPMorgan, Goldman Sachs, BCE, Rogers, Bank of America, Target, and Apple. The Commentary: “JACOB MARLEY: Why do you doubt your senses?
SCROOGE: Because, a little thing affects them. slight disorder of the stomach makes them cheats. You may be an undigested bit of beef, a blot of mustard, a crumb of cheese, a fragment of an underdone potato. There's more of gravy than of grave about you, whatever you are!
So goes the conversation between the two former business partners in a scene from Charles Dickens', "A Christmas Carol". Of course Marley is a disembodied spirit who comes to warn Ebenezer Scrooge to change his ways while there is still time. Scrooge thinks he is imagining the entire encounter.
Reading today's CPI numbers from the official bureau of propaganda I could not help but to think of this scene. Yes, according to the feds, those rising prices we are all experiencing in the grocery story are nothing more than "undigested bits of beef" ( I could not resist the pun).
Funny that on a day when we have to sit and read commentators telling us gold is under pressure because "inflation is benign", we watch WTI Crude Oil surge through the $100 barrel level as news hits the market that the flow of crude oil in the major pipeline that runs from the Gulf Coast to Cushing, Oklahoma will be reversed allowing oil to flow OUT of Cushing thereby reducing what has been a supply glut pressuring the benchmark for oil.
If WTI Crude continues to show strength, it is going to be a difficult trick for the gold bears to keep up any chatter on ebbing inflationary pressures. On a different note, take a look at the composite price of wholesale beef. It scored an EIGHT YEAR HIGH yesterday! Don't worry however, this is just a figment of your imagination. The government tells you so. Meanwhile, Commodity Prices are indeed not continuing to soar into the stratosphere, but neither are they breaking down sharply either. This index would have to fall below 560 to suggest a bear market in commodities overall is underway. Prices have retreated from their all time peak, but seem to be moving in a generally sideways pattern over the last couple of months having bounced off of the above level and moved higher. The index would need to clear 620 to suggest a period of rising commodity prices is underway once again.
That is what is particularly galling about the government's numbers. They give the impression that inflation is benign but the truth is that while the CCI has fallen from its peak, it remains at an extremely lofty level nearly 90% above the bottom made back in 2008. It is a bit of an exaggeration to say it this way but it conveys the point more forcefully - commodity prices have nearly doubled since the fall of 2008.
When you put it that way, the "benign inflation" picture does not seem quite so benign now, does it?”- Dan Norcini, More at http://www.traderdannorcini.blogspot.com/ GATA Posts: 
That's a scammer asking for money, not Bill Murphy Truth SHOULD be a high duty of central banking, ex-Fed Governor Alan Blinder says The Statistics: Activity from: 11/15/2011 Gold Warehouse Stocks: | 11,236,864 | +1,351 | Silver Warehouse Stocks: | 107,095,748 | -5,356 |
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 | 1268.278 | 40,776,411 | US$71,590m | 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$6,576m | 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$7,196m | Australian Stock Exchange (ASX) | Gold Bullion Securities | 14.21 | 473,280 | US$809m | Johannesburg Securities Exchange (JSE) | New Gold Debentures | 42.47 | 1,365,345 | US$2,421m | NASDAQ Dubai | Dubai Gold Securities | 0.154 | 4,946 | US$9m |
Note: No change in Total Tonnes from yesterday’s data. COMEX Gold Trust (IAU) Total Tonnes in Trust: 168.97: No change from yesterday’s data. Silver Trust (SLV) Total Tonnes in Trust: 9,783.71: No change from yesterday’s data. The Miners: A free, new stock report on Kryso Resources PLC, Paramount’s (PZG) assay results, Harmony’s (HMY) suspended stoping operations, Newmont’s (NEM) strike, Royal Gold’s (RGLD) dividend, NovaGold’s (NG) changes, Aurizon’s (AZK) drill results, Shandong Gold’s offer for Jaguar (JAG), and Revett’s (RVM) favorable court decision were among the big stories in the gold and silver mining industry making headlines Friday. WINNERS 1. Jaguar | JAG +44.71% $7.80 | 2. Revett | RVM+25.88% $5.35 | 3. NovaGold | NG+24.29% $10.95 |
LOSERS 1. Minefinders | MFN -10.35% $12.21 | 2. Tanzanian Royalty | TRX -7.50% $2.59 | 3. Ivanhoe | IVN -6.08% $20.70 |
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: Ditem Explorations/Lalande Property: Adjacent Claims Purchased - More
- November 16, 2011 | Item | ShareThis
Paramount Gold and Silver Continues to Expand its Sleeper Gold Project in Nevada - "Paramount Gold and Silver Corp. (AMEX: PZG - News)(TSX: PZG - News)(FRANKFURt: P6G.F - News)(WKN: A0HGKQ) ("Paramount") announced today assay results from the final four holes drilled during the recently completed program at its 100%-owned Sleeper Gold Project in Nevada. These core holes targeted the Facilities zone, the newly discovered PAD zone, an extension to the West Wood vein zone and a new exploration target approximately 1 km southeast of the Sleeper pit." More
- November 16, 2011 | Item | ShareThis
Goldstrike Adopts Shareholder Rights Plan - More
- November 16, 2011 | Item | ShareThis
Cavan Ventures Signs Agreement to Acquire Pythonga Lake Rare Earth Property - More
- November 16, 2011 | Item | ShareThis
St. Augustine Gold and Copper Limited Files Third Quarter 2011 Results and Updates the King-king Project - More
- November 16, 2011 | Item | ShareThis
Pancontinental Uranium Corporation: Charley Creek Project Update-Potential for Large Alluvial Ree Deposits - More
- November 16, 2011 | Item | ShareThis
Canadian Zinc Corporation: Additional Assays From Prairie Creek Exploration Drilling - More
- November 16, 2011 | Item | ShareThis
Gold Bullion Releases Significant Historic Hole With Granada Drilling Update - More
- November 16, 2011 | Item | ShareThis
i-minerals Completes Drilling of Bovill Kaolin Project - More
- November 16, 2011 | Item | ShareThis
Cameco Investor Webcast Advisory - More
- November 16, 2011 | Item | ShareThis
Threegold Resources Inc.: Drilling to Begin at Standard Gold - More
- November 16, 2011 | Item | ShareThis
Xmet Announces Above Market Private Placement Financings for Gross Proceeds of $1,000,000 - More
- November 16, 2011 | Item | ShareThis
WestStar Completes the First Phase Exploration Program on the La Paloma Property, Mexico - More
- November 16, 2011 | Item | ShareThis
Archean Star Announces a Diamond Drill Program Has Commenced at Gnaweeda - More
- November 16, 2011 | Item | ShareThis
Ryan Gold Identifies Significant Gold-in-Soil Anomalies, Up to 3.4 g/t Au, at the Pluto and Venus Prospects, Kluane Project Area in the Yukon Territory - More
- November 16, 2011 | Item | ShareThis
Afri-Can to Acquire 20% of EPL 3403 Marine Diamond Concession and Amends Acquisition Agreement - More
- November 16, 2011 | Item | ShareThis
South American Silver Appoints Phillip Brodie-Hall as Chief Operating Officer - More
- November 16, 2011 | Item | ShareThis
Ryan Gold Provides Exploration Update on Conclusion of a Very Successful Exploration Season - More
- November 16, 2011 | Item | ShareThis
Erdene Announces Private Placement through Mongolian International Capital Corporation - More
- November 16, 2011 | Item | ShareThis
Bison Gold Resources Inc. Exploration Update: A New Phase of Drilling to Commence on the Central Manitoba Property - More
- November 16, 2011 | Item | ShareThis
Troitsa Property Drilling Discovers 82.06 Meters 0f 0.326% Copper - More
- November 16, 2011 | Item | ShareThis
Independence Resources Announces Highly Positive Results From Iron Creek Geophysics - More
- November 16, 2011 | Item | ShareThis
CuOro Resources Names Exploration Manager - More
- November 16, 2011 | Item | ShareThis
Marban High Grade Western Zone Returns 9.8 g/t Au Over 5.8 Metres - More
- November 16, 2011 | Item | ShareThis
Riverside Resources and Partner Sierra Madre Developments Outline High Grade Silver in Drilling and Trench Results From Jesus Maria Mine Area, Penoles Project - More
- November 16, 2011 | Item | ShareThis
Metanor Intersects 5.07 g/t Over 17.08 m Including 10.30 g/t Over 7.89 m at Bachelor Lake - More
- November 16, 2011 | Item | ShareThis
International Enexco Updates Progress at Contact Copper Project, NV - More
- November 16, 2011 | Item | ShareThis
Oromin Explorations Ltd.: OJVG Identifies Additional New Gold Discoveries to Compliment Existing Deposit Resources - More
- November 16, 2011 | Item | ShareThis
Metals Creek Extends High Grade Gold Mineralization to Depth at Thomas Ogden Zone in Timmins, Ontario - More
- November 16, 2011 | Item | ShareThis
Rye Patch Expands Cortez Gold Trend Holdings; Acquires Joint Venture Option in the Patty Project - More
- November 16, 2011 | Item | ShareThis
Solitaire Minerals Acquires Platinum-Group Property in Northwest Ontario - More
- November 16, 2011 | Item | ShareThis
Choice Gold Corp. Releases Gold Results From Phase 1A Drilling Campaign on Its Sugarloaf Peak Gold Project - More
- November 16, 2011 | Item | ShareThis
Sierra Madre Developments and Partner Riverside Resources Outline High Grade Silver in Drilling and Trench Results From Jesus Maria Mine Area, Penoles Project - More
- November 16, 2011 | Item | ShareThis
Soldi Ventures Inc. Has Commenced Drilling on the Golden Bullet Project, Newfoundland - More
- November 16, 2011 | Item | ShareThis
Toron Inc. introduces its new management team and board of directors - More
- November 16, 2011 | Item | ShareThis
Lake Victoria%u2019s New Drill Rig to Undertake Soil Sampling Programs on Its Gold Projects in the Lake Victoria Gold Belt of Tanzania - More
- November 16, 2011 | Item | ShareThis
Sinchao Reports Financial Results for the Quarter Ended September 30, 2011 - More
- November 16, 2011 | Item | ShareThis
Andean American Reports Financial Results for the Quarter Ended September 30, 2011 and Provides a Corporate Update - More
- November 16, 2011 | Item | ShareThis
Gold Canyon Intersects 310 Meters at 1.87 Grams per Tonne Gold Including 129 Meters at 3.30 Grams at Springpole Gold Project - More
- November 16, 2011 | Item | ShareThis
Robex Resources Inc./Nampala: Complete Feasibility Study Report Available on SEDAR - More
- November 16, 2011 | Item | ShareThis
Rare Earth Metals Completes In-Fill Drilling on Its Two Tom Deposit in the Red Wine Belt, Labrador - More
- November 16, 2011 | Item | ShareThis
Fancamp Exploration Ltd. Announces Private Placement - More
- November 16, 2011 | Item | ShareThis
Nevado Announces the First Phase of Intensive Exploration on Its Properties Near Fermont - More
- November 16, 2011 | Item | ShareThis
Avanti Intersects 85.4 Meters Averaging 0.378% Molybdenum at Roundy Creek Prospect on the Kitsault Mine Property - More
- November 16, 2011 | Item | ShareThis
White Tiger Gold Reports 2011 Third Quarter and Nine Month Financial Results - More
- November 16, 2011 | Item | ShareThis
Midlands Minerals Hires Kinross Chief Exploration Geologist Craig Pearman as President and Chief Executive Officer - More
- November 16, 2011 | Item | ShareThis
International Northair Mines Ltd. Initiates Exploration Program at Sierra Rosario Project, Mexico - More
- November 16, 2011 | Item | ShareThis
F.D.G. Mining Announces New Assay Results from Trenching on the Topacio Concession, Nicaragua - More
- November 16, 2011 | Item | ShareThis
Great Western Minerals Group Appoints Mine Manager at Steenkampskraal Rare Earth Project - More
- November 16, 2011 | Item | ShareThis
Beaufield Contracts Two Exploration Drills for the Troilus Project and Comments on Opinaca Eleonore Developments - More
- November 16, 2011 | Item | ShareThis
American Consolidated Provides Update on Sierra Rosario Property - More
- November 16, 2011 | Item | ShareThis
Bralorne Gold Mines Ltd. Joins OTCQX - More
- November 16, 2011 | Item | ShareThis
Challenger Announces Tabang Project Exploration Results - More
- November 16, 2011 | Item | ShareThis
Integra Gold Corp: Triangle Zone Adds High-Grade Ounces to Lamaque Gold Project, Increases Resource by 40% - More
- November 16, 2011 | Item | ShareThis
Victory Gold Mines Inc. Announces Initial Phase of the 2012 Exploration Program - More
- November 16, 2011 | Item | ShareThis
Alto Identifies District Scale Gold and Base Metal Potential at Oxford Lake, Manitoba; Plans 5,000 m of Drilling - More
- November 16, 2011 | Item | ShareThis
Mercator Minerals Completes 90-Day Performance Test at Mineral Park Mine - More
- November 16, 2011 | Item | ShareThis
Horizonte Minerals Reports Positive Initial Drill Results at Falcao Gold Project, Brazil - More
- November 16, 2011 | Item | ShareThis
Meadow Bay Gold Reports New Drill Results from the Atlanta Gold Mine in Nevada - More
- November 16, 2011 | Item | ShareThis
Firestone Ventures Provides Update and Overview on Metallurgical Testwork on Firestone's Torlon Hill Zinc-Lead-Silver Deposit - More
- November 16, 2011 | Item | ShareThis
Torex Receives $83 Million from Warrant Exercises - More
- November 16, 2011 | Item | ShareThis
Coronet Signs Agreement to Re-Process Gold Tailings - More
- November 16, 2011 | Item | ShareThis
Carpathian Files an Amended Technical Report on the RDM Gold Project, Brazil - More
- November 16, 2011 | Item | ShareThis
Continental Nickel Files the NI 43 101 Technical Report for Its Ntaka Hill Nickel Project - More
- November 16, 2011 | Item | ShareThis
Shandong Gold offers $1 billion for Jaguar Mining - "China's Shandong Gold Group, the parent of Shandong Gold Mining Co Ltd (600547.SS) and a big gold producer, has made a $1 billion offer to acquire Brazil's Jaguar Mining Inc (JAG.N)(JAG.TO), two sources close to the deal told Reuters on Wednesday.
Shandong Gold is offering $9.30 per share in cash, a 73 percent premium to Jaguar's Tuesday close in New York. Jaguar shares surged more than 47 percent to $7.94 in afternoon trading on the New York Stock Exchange." More
- November 16, 2011 | Item | ShareThis
Revett Receives Favorable Decision from Ninth Circuit Court of Appeals on Rock Creek Legal Proceedings - "Revett Minerals Inc. (AMEX: RVM.TO - News) (TSX: RVM.TO - News) ("Revett" or the "Company") is pleased to announce it has just received an affirmative decision from the United States Court of Appeals for the Ninth Circuit relating to the Endangered Species Act (ESA) appeal filed by the Rock Creek Alliance and other environmental groups. The Court affirmed that "the Fish and Wildlife Service's determination that the mine would entail "no adverse modification" to bull trout critical habitat and would result in "no jeopardy" to grizzly bears was not arbitrary, capricious, or in violation of the Endangered Species Act." The Company is currently reviewing the decision and its implications and will provide further updates and comments in due course." More
- November 16, 2011 | Item | ShareThis
Lake Shore Gold Announces Large, High-Grade Initial Resource at Thunder Creek - "Lake Shore Gold Corp. (TSX: LSG - News)(AMEX: LSG - News) ("Lake Shore Gold" or the "Company") today announced the completion of an initial National Instrument ("NI") 43-101 resource estimate for the Company's wholly owned Thunder Creek property located in Timmins, Ontario. The reported resource contains 521,600 contained ounces of gold ("Au") in the Indicated category and 510,000 ounces Au in the Inferred category as outlined below." More
- November 16, 2011 | Item | ShareThis
Harmony Gold suspends stoping ops at Kusasalethu mine - "South Africa's Harmony Gold said on Wednesday it had suspended stoping operations at its Kusasalethu mine in South Africa after a seismic event injured two people and trapped another." More
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Some 400 workers at miner Newmont Indonesia go on strike -official - "Newmont Mining Corp's Indonesian unit said on Wednesday that 400 workers were on strike due to disagreements over working shifts, but output was unaffected." More
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Royal Gold Increases Common Stock Dividend 36% to $0.60 per Share - "Royal Gold, Inc. (NASDAQ:RGLD - News)(TSX:RGL.TO - News), today announced that its Board of Directors increased the Company’s annual dividend for its shares of common stock from $0.44 to $0.60, payable on a quarterly basis of $0.15 per share. The newly declared dividend is 36% higher than the dividend paid in calendar year 2011. Royal Gold has steadily increased its annual dividend since 2001." More
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NovaGold Announces Major Changes to Its Organization - "Gregory A. Lang has accepted the position of President and Chief Executive Officer of NovaGold effective January 2012. Mr. Lang comes to NovaGold from Barrick Gold Corporation ("Barrick Gold") where most recently he was President of Barrick Gold of North America, Barrick Gold's wholly-owned subsidiary. In that capacity, Mr. Lang had executive responsibility for Barrick Gold's nine operations in the United States, Canada and the Dominican Republic, including the Donlin Gold project, equally owned by wholly-owned subsidiaries of NovaGold and Barrick Gold." More
- November 16, 2011 | Item | ShareThis
Aurizon Mines Ltd.: Marban High Grade Western Zone Returns 9.8 Grams of Gold per Tonne Over 5.8 Metres - "Aurizon Mines Ltd. (TSX: ARZ.TO - News)(AMEX: AZK - News) is pleased to report on the final drill results of the first phase program on the Marban Block property, located in the Malartic gold camp, Abitibi region of Quebec. A $5 million second phase program has been initiated, as reported in the news release dated November 1, 2011." More
- November 16, 2011 | Item | ShareThis
Shandong Gold Said to Make $785 Million Offer to Buy U.S. Producer Jaguar - "Shandong Gold Group Co., parent of China’s second-largest gold producer by market value, made a $785 million offer to buy Jaguar Mining Inc. (JAG), two people familiar with the deal said.
Shandong bid $9.30 for each Jaguar share, said the people, who asked not to be identified because the information is confidential. That’s 73 percent more than Jaguar’s closing price of $5.39 yesterday in New York. The company has 84.4 million shares issued, according to data compiled by Bloomberg. Jaguar rose 57 percent to $8.45 at 8:01 a.m. in New York." More
- November 16, 2011 | Item | - 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 16 November, 2011 | |
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