Gold and silver prices are rocking again after remaining level for some time on unjustified optimism which has resulted in silver miners such as
Endeavour Silver (AMEX:EXK), Silver Standard Resources (NASDAQ:SSRI),
Hecla Mining (NYSE:HL) and Coeur d'Alene Mines (NYSE:CDE) soaring with the precious metals.
On Friday Silver prices increased to a 31-year high, closing at 40.60 an ounce after reaching a high of $40.63 an ounce during the session. gold prices rose to another new record, rising to a high of $1,476 an ounce.
Most of this is based upon the collapsing U.S. dollar, pullback in China, sovereign debt crisis in Europe, unrest in the Middle East, worsening inflation and consequences of the Japanese earthquake are just some of the negative factors hitting the markets.
Strangely, many investors are acting as if these are some parenthetical events that have little bearing on the markets and commodity prices.
Coeur d'Alene Mines closed Friday at $36.69, gaining $0.63, or 1.75 percent. Hecla Mining closed at $9.76, rising $0.21, or 2.20 percent. Silver Standard Resources closed at $35.08, rising $0.79, or 2.30 percent. Endeavour Silver closed at $12.37, up $0.47, or 3.95 percent.
Showing posts with label Silver. Show all posts
Showing posts with label Silver. Show all posts
Monday, April 11, 2011
Monday, March 7, 2011
Ivanhoe (IVN) Says 'Hi Ho Silver' at Oyu Tolgoi
While most investors know about the copper and gold reserves at Ivanhoe Mines' (NYSE:IVN) Oyu Tolgoi project in Mongolia, it extent of the silver reserves at the mine haven't been talked about much, until now.
According to Ivanhoe Chief Executive Robert Friedland, the project should produce an average of 3 million ounces of silver a year at the mine.
Friedland said, "The buoyant global silver market has fueled the interests of investors and has prompted us to more widely circulate the projections for silver production.
"Oyu Tolgoi will rank as a very substantial silver producer when commercial production begins in 2013."
Over the 27-year life of the mine, the miner said Oyu Tolgoi should produce about 78 million ounces of silver.
The company has said in the past that annual production of copper willl come in at 1.2 billion pounds, and gold at 650,000 ounces. Also being mined will be molybdenum.
Ivanhoe owns a 66 percent stake in the project, while the Mongolian government owns the rest. Rio Tinto (NYSE:RIO) has a 48.4 percent stake in Ivanhoe.
According to Ivanhoe Chief Executive Robert Friedland, the project should produce an average of 3 million ounces of silver a year at the mine.
Friedland said, "The buoyant global silver market has fueled the interests of investors and has prompted us to more widely circulate the projections for silver production.
"Oyu Tolgoi will rank as a very substantial silver producer when commercial production begins in 2013."
Over the 27-year life of the mine, the miner said Oyu Tolgoi should produce about 78 million ounces of silver.
The company has said in the past that annual production of copper willl come in at 1.2 billion pounds, and gold at 650,000 ounces. Also being mined will be molybdenum.
Ivanhoe owns a 66 percent stake in the project, while the Mongolian government owns the rest. Rio Tinto (NYSE:RIO) has a 48.4 percent stake in Ivanhoe.
Tuesday, February 22, 2011
Is Silver Rally Real of Just a Tease?
Silver seems to be exceptionally good at taking as few people along for the ride as it can. This can be frustrating for silver investors, but is great for the health of the long-term bull market in silver. The only way bull markets sustain themselves over the long term is to rebalance sentiment along the way, to prevent overwhelming bullishness from extinguishing the long-term rally.
Silver bucks investors off its bull run by trading in the following three ways: First, it has long and flat consolidations that shake off investor confidence and eventually cause them to bailout of their positions, often at the wrong time. Second, when it does rally, it does so in a non-stop runaway-train manner, right from the start to finish into a spike high. Third, once the spike high is over, silver immediately has a big correction, temporarily wiping out a big portion of the previous gains.
Although silver recently had a down month in January, it has recovered to a new high so far in February. This is a good sign that silver could be in rally mode still, and not ready for another long multi-month consolidation. Whatever the future holds for silver, it will do its best to take as few people with it as it can.
Rest of Story...
Silver bucks investors off its bull run by trading in the following three ways: First, it has long and flat consolidations that shake off investor confidence and eventually cause them to bailout of their positions, often at the wrong time. Second, when it does rally, it does so in a non-stop runaway-train manner, right from the start to finish into a spike high. Third, once the spike high is over, silver immediately has a big correction, temporarily wiping out a big portion of the previous gains.
Although silver recently had a down month in January, it has recovered to a new high so far in February. This is a good sign that silver could be in rally mode still, and not ready for another long multi-month consolidation. Whatever the future holds for silver, it will do its best to take as few people with it as it can.
Rest of Story...
Monday, November 29, 2010
Freeport's (NYSE:FCX) Debt, Margins, and Earnings
Freeport-McMoRan has exploded in share price since it bottomed out at $16.80 a share on December 1, 2008, and it's worth looking briefly at their current situation as it relates to debt, margins and earnings, which may challenge the company going forward.
The one thing to keep in mind concerning Freeport and all companies with heavy exposure to the right commodities, is rising prices can forgive a lot of weaknesses, but weaknesses still affect the bottom line of a company, and performances can be better even in the best of times.
Higher commodity prices have been the norm recently, but macroeconomic circumstances are dividing up the sector some, with particular commodities sure to continue doing well, but others falling by the wayside or reaching top price levels.
As far as Freeport or any commodity company, one must continue to closely watch debt levels and their costs, operational costs, margins, and that ultimately all leads to earnings.
Over the last several years Freeport has taken on more debt even as their equity increased. The problem is the debt-to-equity ratio has also increased, which isn't a good thing for the company. That means even in a bull commodity market their debt is increasing at higher levels. This doesn't mean Freeport is in danger, but the trend isn't good. Their debt-to-equity is a little over 41 percent at this time.
This has resulted in the gross margins of Freeport being under pressure, which is something that needs to be closely watched over the next year.
Other situations to watch is the China story as it relates to commodities, as they're in the midst of battling an inflation challenge, and that will probably result in slower growth and lower imports. That could cause lower sales for companies like Freeport, although China will still grow strongly, but not at the rate they have in the recent past.
Freeport can't do anything about the macroeconomic situation, but the things they can control like debt and operational costs need to be watched closely, along with the price trends of specific commodities.
It seems the period where the majority of commodities could be counted on to rise on general demand are over, and specific commodities will have to be watched in order to determine whether or not commodity prices will overcome elements which could result in lower margins and earnings.
For Freeport, they primarily mine copper, gold, silver, molybdenum and cobalt. Of those, copper is probably the most important to watch, as gold and silver in the current economic environment could help them overcome higher debt and costs, as prices will continue rising for some time.
Copper isn't necessarily guaranteed that anymore because of the probably cutbacks in places like China, and the ongoing weakness in building of new homes in the West, including the United States.
The one thing to keep in mind concerning Freeport and all companies with heavy exposure to the right commodities, is rising prices can forgive a lot of weaknesses, but weaknesses still affect the bottom line of a company, and performances can be better even in the best of times.
Higher commodity prices have been the norm recently, but macroeconomic circumstances are dividing up the sector some, with particular commodities sure to continue doing well, but others falling by the wayside or reaching top price levels.
As far as Freeport or any commodity company, one must continue to closely watch debt levels and their costs, operational costs, margins, and that ultimately all leads to earnings.
Over the last several years Freeport has taken on more debt even as their equity increased. The problem is the debt-to-equity ratio has also increased, which isn't a good thing for the company. That means even in a bull commodity market their debt is increasing at higher levels. This doesn't mean Freeport is in danger, but the trend isn't good. Their debt-to-equity is a little over 41 percent at this time.
This has resulted in the gross margins of Freeport being under pressure, which is something that needs to be closely watched over the next year.
Other situations to watch is the China story as it relates to commodities, as they're in the midst of battling an inflation challenge, and that will probably result in slower growth and lower imports. That could cause lower sales for companies like Freeport, although China will still grow strongly, but not at the rate they have in the recent past.
Freeport can't do anything about the macroeconomic situation, but the things they can control like debt and operational costs need to be watched closely, along with the price trends of specific commodities.
It seems the period where the majority of commodities could be counted on to rise on general demand are over, and specific commodities will have to be watched in order to determine whether or not commodity prices will overcome elements which could result in lower margins and earnings.
For Freeport, they primarily mine copper, gold, silver, molybdenum and cobalt. Of those, copper is probably the most important to watch, as gold and silver in the current economic environment could help them overcome higher debt and costs, as prices will continue rising for some time.
Copper isn't necessarily guaranteed that anymore because of the probably cutbacks in places like China, and the ongoing weakness in building of new homes in the West, including the United States.
Wednesday, November 10, 2010
Alexco Resource (AMEX:AXU) Doubles Over Last Year
Alexco Resource Corp. (AMEX:AXU) is worth taking a look at, as the mineral exploration and development company has doubled its share price over the last 12 months, and seems to have continual support under the current levels.
The company mines, for the most part, in the Yukon Territory of Canada, and its properties are thought to hold gold, silver, lead and zinc ores.
They also generate secondary revenue from project management services and consulting on environmental permitting.
Alexco was trading at $6.42, up by $0.11, or 1.74 percent. Trading volume is above its 3-month daily average.
The company mines, for the most part, in the Yukon Territory of Canada, and its properties are thought to hold gold, silver, lead and zinc ores.
They also generate secondary revenue from project management services and consulting on environmental permitting.
Alexco was trading at $6.42, up by $0.11, or 1.74 percent. Trading volume is above its 3-month daily average.
iShares Silver Trust (NYSE:SLV) Adds 113 Metric Tons
iShares Silver Trust (NYSE:SLV) added 113 metric tons of silver to its holdings, bringing their total to 10,366.03 metric tons.
The price of silver and gold plunged Tuesday as the market took a breather and the U.S. dollar temporarily strengthened. Silver futures prices fell to $26.86 an ounce on the Comex division of the New York Mercantile Exchange for December delivery.
iShares Silver Trust participated in that drop, closing at $26.18, losing $0.97, or 3.57 percent.
iShare is the largest exchange-traded fund backed by silver.
The price of silver and gold plunged Tuesday as the market took a breather and the U.S. dollar temporarily strengthened. Silver futures prices fell to $26.86 an ounce on the Comex division of the New York Mercantile Exchange for December delivery.
iShares Silver Trust participated in that drop, closing at $26.18, losing $0.97, or 3.57 percent.
iShare is the largest exchange-traded fund backed by silver.
Tuesday, October 19, 2010
Yamana (NYSE:AUY) Still Struggles to Gain Respect, Traction
Although there have been a lot of positive comments and data presented on the future of Yamana Gold (NYSE:AUY), it continues to struggle to gain respect and traction in a gold investment climate that should result in a much better price movement for the gold miner.
Scotia interrupted the attempted party again, downgrading Yamana from "Sector Outperform" to "Sector Perform."
With analysts having eight "strong buy" ratings, six "buys," and four holds" on Yamana, we will probably see more downgrades for them in the near future.
Most people continue to hold out hope that Yamana will take off, and yet it continues to linger, even though it does seem to have a number of reasons to be a solid investment and outperformer.
Their extremely low production costs alone make it a desirable company, coming in at a little over $100 a gold-equivalent ounce.
That gives them a lot of flexibility and enables them to operate in weak and strong markets when competitors would flounder.
Yamana also has significant metal resources like zinc, copper, molybdenum and silver, all of which are positioned to move up nicely in price, especially copper and silver.
From last year at this same time, Yamana has generated a loss for its share price, closing Monday at $11.17, losing $0.10, or 0.89 percent.
Scotia interrupted the attempted party again, downgrading Yamana from "Sector Outperform" to "Sector Perform."
With analysts having eight "strong buy" ratings, six "buys," and four holds" on Yamana, we will probably see more downgrades for them in the near future.
Most people continue to hold out hope that Yamana will take off, and yet it continues to linger, even though it does seem to have a number of reasons to be a solid investment and outperformer.
Their extremely low production costs alone make it a desirable company, coming in at a little over $100 a gold-equivalent ounce.
That gives them a lot of flexibility and enables them to operate in weak and strong markets when competitors would flounder.
Yamana also has significant metal resources like zinc, copper, molybdenum and silver, all of which are positioned to move up nicely in price, especially copper and silver.
From last year at this same time, Yamana has generated a loss for its share price, closing Monday at $11.17, losing $0.10, or 0.89 percent.
Tuesday, September 14, 2010
Goldcorp (NYSE:GG) Announces Commercial Production Hit at Penasquito
Although the first lead and zinc concentrates were produced by Goldcorp (NYSE:GG) at their Penasquito project in Mexico in 2009, the company decided to wait until the second 50 000-t/d mill and flotation line was operational before making the declaration it had officially hit commercial production, which they now have done.
Goldcorp is on track to finish construction on high-pressure grinding roll circuit in October, which will produce 30,000 tons a day, which will reach as high as 130,000 tons a day in early part of 2011.
The company's estimate of 180,000 ounces of production from the project remains in place for 2010.
COO Steve Reid said, “Peñasquito has achieved every significant operational milestone on schedule, culminating in today’s declaration of commercial production.”
The Penasquito project, which is estimated to have a 23-year lifespan, should produce 500,000 ounces of gold, 28 million ounces of silver, 450 million pounds of zinc, and 200 million pounds of lead on an annual basis.
Goldcorp is on track to finish construction on high-pressure grinding roll circuit in October, which will produce 30,000 tons a day, which will reach as high as 130,000 tons a day in early part of 2011.
The company's estimate of 180,000 ounces of production from the project remains in place for 2010.
COO Steve Reid said, “Peñasquito has achieved every significant operational milestone on schedule, culminating in today’s declaration of commercial production.”
The Penasquito project, which is estimated to have a 23-year lifespan, should produce 500,000 ounces of gold, 28 million ounces of silver, 450 million pounds of zinc, and 200 million pounds of lead on an annual basis.
Thursday, September 9, 2010
Allied Nevada's (NYSE:ANV) Hycroft Mine Production Profile Larger Than Thought
An updated scoping study of the Hycroft mine of Allied Nevada (NYSE:ANV) found it can support a much larger production facility than the original study indicated.
CEO Scott Caldwell said, "This mine is expected to support an operation with a much greater production profile than was originally presented in the April scoping study."
Allied said in August it had a measured and indicated resource of eight million ounces of gold and 259.2 million ounces of silver at Hycroft mine.
Annually the gold miner projects gold production of 610,000 ounces, and silver production of 27 million ounces.
The enlarged project will now cost Allied about $1.1 billion.
They should be able to generate $500 million of that on their own by 2015, with the remaining $600 million to be raised.
CEO Scott Caldwell said, "This mine is expected to support an operation with a much greater production profile than was originally presented in the April scoping study."
Allied said in August it had a measured and indicated resource of eight million ounces of gold and 259.2 million ounces of silver at Hycroft mine.
Annually the gold miner projects gold production of 610,000 ounces, and silver production of 27 million ounces.
The enlarged project will now cost Allied about $1.1 billion.
They should be able to generate $500 million of that on their own by 2015, with the remaining $600 million to be raised.
Friday, April 23, 2010
TD Newcrest Upgrades Goldcorp (TSE:G) to 'Action List Buy'
TD Newcrest analyst Greg Barns has upgraded Goldcorp (TSE:G) (NYSE:GG) to 'Action List Buy' this week, and increased the target price to $55 a a share from $50 a share.
Barnes said the reasoning behind the upgrade was this, "We believe Goldcorp has the best growth profile among its senior peers. We use higher multiples for Goldcorp than Barrick (TSE:ABX) (NYSE:ABX) or Kinross (TSE:K) (NYSE:KGC), given our view that it has a better growth outlook, lower costs and lower political risk."
The specifics of that are related to production at Peñasquito, which has a projected increase in production for all four metals there, including gold, lead, silver and zinc.
Annual payable production, according to TD Newcrest, for each metal is estimated at 470,000 ounces of gold, 28 million ounces of silver, 450 million pounds of zinc, and 200 million pounds of lead; all on an annual basis.
gold could go far beyond that, with it reaching 800,000 ounces of annual production from 2010 - 2015, based on increased quality of grades.
Barnes said the reasoning behind the upgrade was this, "We believe Goldcorp has the best growth profile among its senior peers. We use higher multiples for Goldcorp than Barrick (TSE:ABX) (NYSE:ABX) or Kinross (TSE:K) (NYSE:KGC), given our view that it has a better growth outlook, lower costs and lower political risk."
The specifics of that are related to production at Peñasquito, which has a projected increase in production for all four metals there, including gold, lead, silver and zinc.
Annual payable production, according to TD Newcrest, for each metal is estimated at 470,000 ounces of gold, 28 million ounces of silver, 450 million pounds of zinc, and 200 million pounds of lead; all on an annual basis.
gold could go far beyond that, with it reaching 800,000 ounces of annual production from 2010 - 2015, based on increased quality of grades.
Tuesday, April 6, 2010
Jim Rogers: Don't Buy Gold
Jim Rogers who is a bull on commodities throughout the next decade or possibly more, has stated recently that he wouldn't acquire any more gold at this time, as the price has surged and could go sideways for awhile.
At the same time, Rogers said he won't be selling any of his gold for some time either.
Along with the high price, speculators have now entered the gold and oil markets, and they could drive prices up for no reason, and those investing in gold could take a hit as a result, as it may not be market forces but speculation moving the prices.
Rogers advises commodity investors to invest in commodities at lower price levels like natural gas and silver.
At the same time, Rogers said he won't be selling any of his gold for some time either.
Along with the high price, speculators have now entered the gold and oil markets, and they could drive prices up for no reason, and those investing in gold could take a hit as a result, as it may not be market forces but speculation moving the prices.
Rogers advises commodity investors to invest in commodities at lower price levels like natural gas and silver.
Saturday, April 3, 2010
Silver Manipulated to Protect Dollar?
Silver Short Squeeze Could Be Imminent
PR Newswire
FORT LEE, N.J., April 3
FORT LEE, N.J., April 3 /PRNewswire/ — The National Inflation Association today issued a silver update to its http://inflation.us members:
On December 11th, 2009 NIA declared silver the best investment for the next decade. In our December 11th article, we said that it wasn't a coincidence that the very day Bear Stearns failed was the same day silver reached its multi-decade high of over $21 per ounce. We went on to say, "The reason why we believe the Federal Reserve was so eager to orchestrate a bailout of Bear Stearns, is because Bear Stearns was on the verge of being forced to cover their silver short position."
JP Morgan took over the concentrated short position in silver from Bear Stearns and gained complete control over the paper price of silver. Within weeks, JP Morgan was able to manipulate the price of silver down to below $9 per ounce. NIA believes they were able to drive the price of silver down through "naked short selling," selling paper silver that is unbacked by physical silver.
On February 5th, we witnessed another sharp decline in silver prices, which NIA described on February 7th as being "just a temporary wash out, before a huge surge in silver prices later in 2010." Since then, silver prices have rebounded by 18%. The temporary wash out that occurred on February 5th was predicted by independent metals trader Andrew Maguire, who came out this week exposing the fraud that is taking place in the paper silver market.
On February 3rd, Andrew Maguire wrote Eliud Ramirez, a senior investigator for the CFTC's Enforcement Division, giving him the "heads up" for a "manipulative event" signaled for February 5th. He warned the CFTC that JP Morgan was about to manipulate down the price of silver after the release of non-farm payroll data on February 5th. Andrew said that the takedown would happen regardless of if employment was better or worse than expected and the price of silver would be flushed to below $15 per ounce. During the next couple of days, silver was crushed from $16.17 per ounce down to a low of $14.62 per ounce.
Despite all of the evidence given by Andrew Maguire to the CFTC of gold and silver manipulation, Andrew wasn't allowed to speak at last week's CFTC hearing on limiting gold and silver positions held by banks like JP Morgan. Bill Murphy of the Gold Anti-Trust Action Committee (GATA) was allowed to speak (within a five-minute time constraint) and present some of Andrew Maguire's evidence, but right when his presentation began there was a technical failure of the live television broadcast, which was mysteriously fixed as soon as he was done speaking. Bill Murphy was scheduled for several mainstream media television interviews after the CFTC hearings, but they were all abruptly cancelled at once.
A couple of days after the CFTC meeting, Andrew Maguire and his wife were involved in a bizarre hit-and-run car accident in London where a second car coming out of a side street struck their vehicle, which resulted in a police chase using helicopters and patrol cars before the suspect was nabbed. Andrew and his wife were released from the hospital with minor injuries. (NIA does not believe in conspiracy theories but when you consider that this is a potential multi-trillion dollar fraud that could bring down the world's financial system, it really makes you think.)
The silver market provides a window into what is happening in the gold market. Because the silver market is very small and its short position is so concentrated, its price is easier to manipulate than gold, but the same manipulation is taking place in gold on a much larger but less noticeable scale. In our opinion, the CFTC is under pressure not to do anything about the manipulation because the lower gold and silver prices are, the stronger the U.S. dollar appears to be. If we saw an explosion to the upside in gold and silver prices, it would result in a complete loss of confidence in the U.S. dollar.
NIA believes the precious metals markets are currently being artificially suppressed by paper gold and silver that doesn't physically exist. At last week's CFTC hearings, Jeffrey Christian of the CPM Group admitted that banks have leveraged their physical bullion by 100 to 1. This means for every 100 ounces of paper gold/silver that trade, there could be as little as 1 ounce of physical gold/silver in the vaults backing it. However, Mr. Christian sees no problem with this because he says "it has been persistently that way for decades" and there are "any number of mechanisms allowing for cash settlements."
What Mr. Christian fails to realize is, most investors around the world holding paper gold/silver believe they own physical gold/silver. There will come a time when these investors don't want cash settlements in U.S. dollars, but they will want the physical precious metals themselves. When investors around the globe eventually call for physical delivery of their precious metals, NIA believes it will result in the biggest short squeeze in the history of all commodities.
The physical silver market is now more tight than ever before. In the first quarter of 2010, the U.S. mint sold 9,023,500 American Silver Eagles, the most since the coin debuted in 1986 and up from 8,299,000 sold in the fourth quarter of 2009. All U.S. silver mines combined are currently producing only 40 million ounces of silver annually. This means the U.S. needs to use almost all of its silver production just to keep up with the demand for American Silver Eagle coins.
Silver closed this week at a 10-week high of $17.89 per ounce and a major short squeeze to the upside could be imminent. With the spotlight now on JP Morgan, NIA believes they will be less likely to naked short silver at these levels and manipulate the price down like in February. With the mainstream media blackout, it is important for NIA members to work harder than ever to spread the word and help expose what could be the largest fraud in the history of the world.
To receive NIA's latest updates about inflation and the economy, sign-up for the free NIA newsletter at: http://inflation.us
About us:
The National Inflation Association is an organization that is dedicated to preparing Americans for hyperinflation. The NIA offers free membership at http://www.inflation.us and provides its members with articles about the economy and inflation, news stories, important charts not shown by the mainstream media; YouTube videos featuring Jim Rogers, Marc Faber, Ron Paul, Peter Schiff, and others; and profiles of gold, silver, and agriculture companies that we believe could prosper in an inflationary environment.
Contact: Gerard Adams, 1-888-99-NIA US (1888-996-4287), editor@inflation.us
SOURCE National Inflation Association
Contact
Gerard Adams, +1-888-99-NIA US (+1-888-996-4287), editor@inflation.us
PR Newswire
FORT LEE, N.J., April 3
FORT LEE, N.J., April 3 /PRNewswire/ — The National Inflation Association today issued a silver update to its http://inflation.us members:
On December 11th, 2009 NIA declared silver the best investment for the next decade. In our December 11th article, we said that it wasn't a coincidence that the very day Bear Stearns failed was the same day silver reached its multi-decade high of over $21 per ounce. We went on to say, "The reason why we believe the Federal Reserve was so eager to orchestrate a bailout of Bear Stearns, is because Bear Stearns was on the verge of being forced to cover their silver short position."
JP Morgan took over the concentrated short position in silver from Bear Stearns and gained complete control over the paper price of silver. Within weeks, JP Morgan was able to manipulate the price of silver down to below $9 per ounce. NIA believes they were able to drive the price of silver down through "naked short selling," selling paper silver that is unbacked by physical silver.
On February 5th, we witnessed another sharp decline in silver prices, which NIA described on February 7th as being "just a temporary wash out, before a huge surge in silver prices later in 2010." Since then, silver prices have rebounded by 18%. The temporary wash out that occurred on February 5th was predicted by independent metals trader Andrew Maguire, who came out this week exposing the fraud that is taking place in the paper silver market.
On February 3rd, Andrew Maguire wrote Eliud Ramirez, a senior investigator for the CFTC's Enforcement Division, giving him the "heads up" for a "manipulative event" signaled for February 5th. He warned the CFTC that JP Morgan was about to manipulate down the price of silver after the release of non-farm payroll data on February 5th. Andrew said that the takedown would happen regardless of if employment was better or worse than expected and the price of silver would be flushed to below $15 per ounce. During the next couple of days, silver was crushed from $16.17 per ounce down to a low of $14.62 per ounce.
Despite all of the evidence given by Andrew Maguire to the CFTC of gold and silver manipulation, Andrew wasn't allowed to speak at last week's CFTC hearing on limiting gold and silver positions held by banks like JP Morgan. Bill Murphy of the Gold Anti-Trust Action Committee (GATA) was allowed to speak (within a five-minute time constraint) and present some of Andrew Maguire's evidence, but right when his presentation began there was a technical failure of the live television broadcast, which was mysteriously fixed as soon as he was done speaking. Bill Murphy was scheduled for several mainstream media television interviews after the CFTC hearings, but they were all abruptly cancelled at once.
A couple of days after the CFTC meeting, Andrew Maguire and his wife were involved in a bizarre hit-and-run car accident in London where a second car coming out of a side street struck their vehicle, which resulted in a police chase using helicopters and patrol cars before the suspect was nabbed. Andrew and his wife were released from the hospital with minor injuries. (NIA does not believe in conspiracy theories but when you consider that this is a potential multi-trillion dollar fraud that could bring down the world's financial system, it really makes you think.)
The silver market provides a window into what is happening in the gold market. Because the silver market is very small and its short position is so concentrated, its price is easier to manipulate than gold, but the same manipulation is taking place in gold on a much larger but less noticeable scale. In our opinion, the CFTC is under pressure not to do anything about the manipulation because the lower gold and silver prices are, the stronger the U.S. dollar appears to be. If we saw an explosion to the upside in gold and silver prices, it would result in a complete loss of confidence in the U.S. dollar.
NIA believes the precious metals markets are currently being artificially suppressed by paper gold and silver that doesn't physically exist. At last week's CFTC hearings, Jeffrey Christian of the CPM Group admitted that banks have leveraged their physical bullion by 100 to 1. This means for every 100 ounces of paper gold/silver that trade, there could be as little as 1 ounce of physical gold/silver in the vaults backing it. However, Mr. Christian sees no problem with this because he says "it has been persistently that way for decades" and there are "any number of mechanisms allowing for cash settlements."
What Mr. Christian fails to realize is, most investors around the world holding paper gold/silver believe they own physical gold/silver. There will come a time when these investors don't want cash settlements in U.S. dollars, but they will want the physical precious metals themselves. When investors around the globe eventually call for physical delivery of their precious metals, NIA believes it will result in the biggest short squeeze in the history of all commodities.
The physical silver market is now more tight than ever before. In the first quarter of 2010, the U.S. mint sold 9,023,500 American Silver Eagles, the most since the coin debuted in 1986 and up from 8,299,000 sold in the fourth quarter of 2009. All U.S. silver mines combined are currently producing only 40 million ounces of silver annually. This means the U.S. needs to use almost all of its silver production just to keep up with the demand for American Silver Eagle coins.
Silver closed this week at a 10-week high of $17.89 per ounce and a major short squeeze to the upside could be imminent. With the spotlight now on JP Morgan, NIA believes they will be less likely to naked short silver at these levels and manipulate the price down like in February. With the mainstream media blackout, it is important for NIA members to work harder than ever to spread the word and help expose what could be the largest fraud in the history of the world.
To receive NIA's latest updates about inflation and the economy, sign-up for the free NIA newsletter at: http://inflation.us
About us:
The National Inflation Association is an organization that is dedicated to preparing Americans for hyperinflation. The NIA offers free membership at http://www.inflation.us and provides its members with articles about the economy and inflation, news stories, important charts not shown by the mainstream media; YouTube videos featuring Jim Rogers, Marc Faber, Ron Paul, Peter Schiff, and others; and profiles of gold, silver, and agriculture companies that we believe could prosper in an inflationary environment.
Contact: Gerard Adams, 1-888-99-NIA US (1888-996-4287), editor@inflation.us
SOURCE National Inflation Association
Contact
Gerard Adams, +1-888-99-NIA US (+1-888-996-4287), editor@inflation.us
Wednesday, March 31, 2010
Bank of America (NYSE:BAC) Upgrades Hecla Mining (NYSE:HL)
Bank of America Upgrades Hecla Mining
Hecla Mining (NYSE:HL) enjoyed an uptick today as Bank of America (NYSE:BAC) upgraded the mining company from Neutral from Underperform.
Hecla has actually had a good year as far as share price goes, starting off at $1.85 twelve months ago to $5.42 as of the last trade.
They've reached as high as $7.47 a share during that time.
Hecla Mining (NYSE:HL) enjoyed an uptick today as Bank of America (NYSE:BAC) upgraded the mining company from Neutral from Underperform.
Hecla has actually had a good year as far as share price goes, starting off at $1.85 twelve months ago to $5.42 as of the last trade.
They've reached as high as $7.47 a share during that time.
Friday, July 17, 2009
US Mint Launches 2009 Silver Proof Set
US Mint 18-coin 2009 Silver Proof Set
The US Mint just launched the 18-coin 2009 Silver Proof Set for $52.95. The annual set is a favorite with collectors, highlighted by the no longer available 2008 Silver Proof Set with sales of 774,874 as of Sunday.
The 2009 set is actually $8 more than last year’s offering, but it also includes an additional silver quarter and four bicentennial 2009 Lincoln cents specially struck in 95% copper, 3% zinc and 2% tin — the same alloy used in the original 1909 penny.
Similar to the fast-selling 2009 clad proof set that was issued by the Mint in June, the silver set contains collector proof versions of circulating 2009 coinage. All coins bear the "S" mint mark denoting they were minted at the United States Mint in San Francisco. Additionally, the dime, half-dollar, and six quarters are struck in lustrous 90 percent silver. The set has an intrinsic silver value of $19.99 at Friday’s silver spot price of $13.16 an ounce.
The following 18 coins are included in the set:
Four 2009-S Lincoln Cents: Lincoln Birthplace Penny, Lincoln Formative Years Penny, Lincoln Professional Life Penny and Lincoln Presidency Penny
2009-S Jefferson nickel
2009-S Roosevelt dime
Six 2009-S Quarters: DC quarter, Puerto Rico quarter, Guam quarter, American Samoa quarter, US Virgin Islands quarter and Northern Mariana Islands quarter
2009-S Kennedy half-dollar
2009-S Native American $1 Coin
Four 2009-S Presidential Dollar Coins: Harrison $1 Coin, Tyler $1 Coin, Polk Presidential $1 and Taylor Presidential $1
What are proof sets? As described by the Mint, they are:
"Proof coins are extraordinarily brilliant, with sharp relief and a mirror-like background. Their frosted, sculpted foregrounds give them a special cameo effect. Proof blanks are specially treated, polished and cleaned to ensure high-quality strikes. The blanks are then fed into presses fitted with specially polished dies and struck at least twice to ensure sharp relief."
2009 US Mint Silver Proof Set order information
No limits are in place and ordering is available directly on the US Mint page:
United States Mint 2009 Silver Proof Set™
Sets may also be purchased through the Mint’s toll-free number, 1-800-USA-MINT (872-6468). Hearing and speech-impaired customers may order by calling 1-888-321-MINT (6468).
The Mint indicates domestic orders will include a $4.95 shipping and handling charge.
US Mint 18-coin 2009 Silver Proof Set
The US Mint just launched the 18-coin 2009 Silver Proof Set for $52.95. The annual set is a favorite with collectors, highlighted by the no longer available 2008 Silver Proof Set with sales of 774,874 as of Sunday.
The 2009 set is actually $8 more than last year’s offering, but it also includes an additional silver quarter and four bicentennial 2009 Lincoln cents specially struck in 95% copper, 3% zinc and 2% tin — the same alloy used in the original 1909 penny.
Similar to the fast-selling 2009 clad proof set that was issued by the Mint in June, the silver set contains collector proof versions of circulating 2009 coinage. All coins bear the "S" mint mark denoting they were minted at the United States Mint in San Francisco. Additionally, the dime, half-dollar, and six quarters are struck in lustrous 90 percent silver. The set has an intrinsic silver value of $19.99 at Friday’s silver spot price of $13.16 an ounce.
The following 18 coins are included in the set:
Four 2009-S Lincoln Cents: Lincoln Birthplace Penny, Lincoln Formative Years Penny, Lincoln Professional Life Penny and Lincoln Presidency Penny
2009-S Jefferson nickel
2009-S Roosevelt dime
Six 2009-S Quarters: DC quarter, Puerto Rico quarter, Guam quarter, American Samoa quarter, US Virgin Islands quarter and Northern Mariana Islands quarter
2009-S Kennedy half-dollar
2009-S Native American $1 Coin
Four 2009-S Presidential Dollar Coins: Harrison $1 Coin, Tyler $1 Coin, Polk Presidential $1 and Taylor Presidential $1
What are proof sets? As described by the Mint, they are:
"Proof coins are extraordinarily brilliant, with sharp relief and a mirror-like background. Their frosted, sculpted foregrounds give them a special cameo effect. Proof blanks are specially treated, polished and cleaned to ensure high-quality strikes. The blanks are then fed into presses fitted with specially polished dies and struck at least twice to ensure sharp relief."
2009 US Mint Silver Proof Set order information
No limits are in place and ordering is available directly on the US Mint page:
United States Mint 2009 Silver Proof Set™
Sets may also be purchased through the Mint’s toll-free number, 1-800-USA-MINT (872-6468). Hearing and speech-impaired customers may order by calling 1-888-321-MINT (6468).
The Mint indicates domestic orders will include a $4.95 shipping and handling charge.
US Mint 18-coin 2009 Silver Proof Set
Friday, February 6, 2009
Silver Falcon Mining, (SFMI) Expanding Milling Circuit
Silver Falcon Mining, Inc. (PINKSHEETS: SFMI) announces additional equipment to boost gold and silver production at its Melba, ID. mill.
The engineers of RMS-Ross, the suppliers of the equipment for the mill finished an on site inspection. The Company, under RMS' direction, began relocating certain pieces of equipment in the mill circuit for maximum output; also allowing for the installation of a parallel wet-line circuit. This additional circuit equipment and realignment of the current mill components should quadruple planned gold and silver production at the Company's Melba, ID. mill. The Company believes these changes should be completed within the next 2-3 weeks.
Mr. Pierre Quilliam, President of Silver Falcon Mining, Inc., said, "An increase in the demand for the gold/silver concentrates, motivated SFMI to undertake an expansion of planned output production at the Melba mill. This installation of the wet-line circuit should allow SFMI to quadruple precious metals output and, further advance, by at least two years, the underground mining developments on War Eagle Mountain."
Silver Falcon Mining, Inc., is an exploration and development Company specializing in high-grade Gold and Silver mining properties in North America.
Further Information contact Rich Kaiser, Investor Relations, YES INTERNATIONAL, 800-631-8127 and/or the Company at 941-761-7819, www.silverfalconmining.com.
Silver Falcon Mining, Inc. cautions that the statements made in this press release constitute forward-looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
The engineers of RMS-Ross, the suppliers of the equipment for the mill finished an on site inspection. The Company, under RMS' direction, began relocating certain pieces of equipment in the mill circuit for maximum output; also allowing for the installation of a parallel wet-line circuit. This additional circuit equipment and realignment of the current mill components should quadruple planned gold and silver production at the Company's Melba, ID. mill. The Company believes these changes should be completed within the next 2-3 weeks.
Mr. Pierre Quilliam, President of Silver Falcon Mining, Inc., said, "An increase in the demand for the gold/silver concentrates, motivated SFMI to undertake an expansion of planned output production at the Melba mill. This installation of the wet-line circuit should allow SFMI to quadruple precious metals output and, further advance, by at least two years, the underground mining developments on War Eagle Mountain."
Silver Falcon Mining, Inc., is an exploration and development Company specializing in high-grade Gold and Silver mining properties in North America.
Further Information contact Rich Kaiser, Investor Relations, YES INTERNATIONAL, 800-631-8127 and/or the Company at 941-761-7819, www.silverfalconmining.com.
Silver Falcon Mining, Inc. cautions that the statements made in this press release constitute forward-looking statements, and not guarantees of future performance and actual results or developments may differ materially from the projections in the forward-looking statements. Forward-looking statements are based on the estimates and opinions of management at the time the statements are made.
Sunday, January 25, 2009
Gold and Gold Mining Companies: Prices to Soar?
The term rally and bullish should continue for gold and gold futures over the next year or so, as it shouldn't have any problem breaking above the $900 an ounce barrier and soaring from there. Gold and silver mining producers or companies will also do great this year, not only from demand, but operations will cost much less as energy costs, which are a key cost for gold mining companies, will remain down this year, while gold prices continue to rise. That should produce a banner year for gold mining companies.
Much of what has held gold prices down during these tough economic times has been the forced liquidation and deleveraging major funds had to do in order to raise cash to cover their debt and expenses. That forced them to sell their positions in gold and other commodities in order to do that. That's the reason commodities struggled for some time, especially some of the precious metals. It's also the reason the US dollar was inflated far beyond its underlying fundamentals.
Now that it looks like gold is back as the haven of safety it always has been, we'll start to see it grow in a much larger way and respond as it should have been all along. The bulls are out of the pen and we'll see the yellow metal soar in 2009.
Many financial experts are turning into bulls now, as the reason they were so unsure is no one know how long big funds and investment firms would take to unwind their positions and be ready to go back to the commodity markets. It seems we have the answer now, and that answer is a bull market.
This of course means that quality gold companies will enjoy good times going forward, as they lead commodities and other precious metals forward. I don't think the grain markets will participate in the bull market, but most many metals will, including silver, which according to percentages could even outperform gold.
Another reason gold will do well for some time is the terrible ideas of the government to bailout every industry that runs their companies poorly. That will force them to keep printing money into oblivion, and that fiat money has a bad ring to it, as it'll definitely push inflation much higher because there's no one to buy U.S. debt to pay for these extraordinarly expensive initiatives.
That's good news for gold investors, as inflation will be another arrow in the quiver that will keep gold prices rising, and the gold rally extending.
Foreign governments will ease out of the untrustworthy U.S Treasury bonds, and so that will leave the U.S. and Federal Reserve with no option to keep the money printing presses humming, and they will.
That will also bring the value of the U.S. dollar down, and will make gold even more attractive.
Similar to the forced liquidation period of funds and investment firms, it'll be impossible to know how long the bull gold rally will last, but I think it'll be much longer than the forced liquidation period that helped the dollar remain strong, although the fundamentals were so off.
In this case, the trillions being promised and spent by the US government could keep gold as a solid investment for quite some time, as the U.S. dollar continues on its road to collapse.
As far as gold and silver mining companies, we'll see quite a number of them enjoy some of the best years they ever have, assuming they're already well run companies and positioned to take advantage of the haven of safety investors will be looking for in 2009.
Much of what has held gold prices down during these tough economic times has been the forced liquidation and deleveraging major funds had to do in order to raise cash to cover their debt and expenses. That forced them to sell their positions in gold and other commodities in order to do that. That's the reason commodities struggled for some time, especially some of the precious metals. It's also the reason the US dollar was inflated far beyond its underlying fundamentals.
Now that it looks like gold is back as the haven of safety it always has been, we'll start to see it grow in a much larger way and respond as it should have been all along. The bulls are out of the pen and we'll see the yellow metal soar in 2009.
Many financial experts are turning into bulls now, as the reason they were so unsure is no one know how long big funds and investment firms would take to unwind their positions and be ready to go back to the commodity markets. It seems we have the answer now, and that answer is a bull market.
This of course means that quality gold companies will enjoy good times going forward, as they lead commodities and other precious metals forward. I don't think the grain markets will participate in the bull market, but most many metals will, including silver, which according to percentages could even outperform gold.
Another reason gold will do well for some time is the terrible ideas of the government to bailout every industry that runs their companies poorly. That will force them to keep printing money into oblivion, and that fiat money has a bad ring to it, as it'll definitely push inflation much higher because there's no one to buy U.S. debt to pay for these extraordinarly expensive initiatives.
That's good news for gold investors, as inflation will be another arrow in the quiver that will keep gold prices rising, and the gold rally extending.
Foreign governments will ease out of the untrustworthy U.S Treasury bonds, and so that will leave the U.S. and Federal Reserve with no option to keep the money printing presses humming, and they will.
That will also bring the value of the U.S. dollar down, and will make gold even more attractive.
Similar to the forced liquidation period of funds and investment firms, it'll be impossible to know how long the bull gold rally will last, but I think it'll be much longer than the forced liquidation period that helped the dollar remain strong, although the fundamentals were so off.
In this case, the trillions being promised and spent by the US government could keep gold as a solid investment for quite some time, as the U.S. dollar continues on its road to collapse.
As far as gold and silver mining companies, we'll see quite a number of them enjoy some of the best years they ever have, assuming they're already well run companies and positioned to take advantage of the haven of safety investors will be looking for in 2009.
Wednesday, January 14, 2009
Nevada Sunrise Intercepts 0.571 oz/ton Gold and 6.791 oz/ton Silver
VANCOUVER, BC - Nevada Sunrise Gold Corporation (TSX-V: NEV) has released its results from the 2008 exploration drill program on the Golden Arrow property located in Nye County, Nevada. Highlights include hole GA08-307 returning 30 feet at 0.446 oz/ton Au and 6.791 oz/ton Ag, and hole GA08-311 returning 9 feet at 0.571 oz/ton Au and 3.500 oz/ton Ag. CEO Bill Henderson stated, "It is exciting that the results from our 2008 drill program back up the geologic model developed by company geologists over the past year and support new geophysical and geochemical targets that may become additional centers of gold and silver mineralization on the property." A new resource estimate, presently being computed by Mine Development Associates of Reno, Nevada, is expected during Q1 2009. Extensive metallurgical tests being conducted at McClelland Laboratories of Sparks, Nevada, are expected to be completed in Q2 2009.
The table lists selected intercepts from the 2008 Golden Arrow drill program.
The company's primary focus is the exploration and development of precious metal properties in Nevada. The first phase of exploration drilling at Golden Arrow was completed in September 2008, and included 3,584 feet in 5 diamond core holes, and 16,880 feet in 28 reverse circulation (RC) drill holes. The company completed 8 holes in the Hidden Hill mineral zone and 18 holes in the Gold Coin mineral zone, as well as 7 holes testing new exploration targets. A map showing drill hole locations is included in our NI 43-101 Technical Report entitled Technical Report on Golden Arrow Project, Nye County, Nevada, U.S.A. dated February 18, 2008, available on SEDAR (the "Technical Report").
The volcanic-rock-hosted precious metal mineralization at Golden Arrow is best described as consisting of low-sulfidation epithermal quartz and precious metal veins overprinted by hot-springs style, high-sulfidation epithermal alteration and precious metal mineralization. The property is situated along the northeastern margin of the Walker Lane Structural Belt. The discovery of near surface high grade gold bearing quartz veins led to early development of the district.
The current resource as reported in the Technical Report is shown in the table below.
Au Grade Ounces Ag Grade Ounces
(oz/ton) Gold (oz/ton) Silver
Total Indicated: 0.025 239,000 0.35 3,366,000
Total Inferred: 0.015 98,000 0.29 1,846,000
About Nevada Sunrise
For the latest details on the Company, its properties, management team and philosophy, please visit our website at www.nevadasunrise.com.
All data, as reported to the company by McClelland Laboratories, Inc., American Assay Laboratories and ALS Chemex have been reviewed by Dr. Odin D. Christensen. Dr. Christensen, a Qualified Person under Canadian National Instrument 43-101 and Senior Geologist and a director of the Company, is the Qualified Person responsible for the preparation of the technical information included in this document and for supervision of field activities related to the Company's projects.
CAUTIONARY NOTE
This release contains forward-looking statements which may include, but is not limited to, statements with respect to the timing of our exploration and drilling programs; geological models; expectations related to enhancing resource grades; financing plans and availability of future financing for our projects; anticipated results of our exploration, mineral resource estimates and other plans, projections, estimates and expectations. Forward-looking statements address future events and conditions which are subject to various risks and uncertainties which are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. For details of the Company, its business and properties, including risks relating to an investment in securities of the Company, see the Company's prospectus dated June 25, 2008, as amended by an amendment dated August 22, 2008, both of which are available on SEDAR at www.sedar.com, or directly from the Company.
Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources: This news release uses the terms "Indicated" and "Inferred" Resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable.
The TSX Venture exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The Securities of Nevada Sunrise Gold Corporation have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to the account or benefit of any U.S. person.
FOR FURTHER INFORMATION:
William B. Henderson
President and Chief Executive Officer
Telephone: (530) 887-9901
Facsimile: (530) 884-3822
© MarketWire 2009
The table lists selected intercepts from the 2008 Golden Arrow drill program.
The company's primary focus is the exploration and development of precious metal properties in Nevada. The first phase of exploration drilling at Golden Arrow was completed in September 2008, and included 3,584 feet in 5 diamond core holes, and 16,880 feet in 28 reverse circulation (RC) drill holes. The company completed 8 holes in the Hidden Hill mineral zone and 18 holes in the Gold Coin mineral zone, as well as 7 holes testing new exploration targets. A map showing drill hole locations is included in our NI 43-101 Technical Report entitled Technical Report on Golden Arrow Project, Nye County, Nevada, U.S.A. dated February 18, 2008, available on SEDAR (the "Technical Report").
The volcanic-rock-hosted precious metal mineralization at Golden Arrow is best described as consisting of low-sulfidation epithermal quartz and precious metal veins overprinted by hot-springs style, high-sulfidation epithermal alteration and precious metal mineralization. The property is situated along the northeastern margin of the Walker Lane Structural Belt. The discovery of near surface high grade gold bearing quartz veins led to early development of the district.
The current resource as reported in the Technical Report is shown in the table below.
Au Grade Ounces Ag Grade Ounces
(oz/ton) Gold (oz/ton) Silver
Total Indicated: 0.025 239,000 0.35 3,366,000
Total Inferred: 0.015 98,000 0.29 1,846,000
About Nevada Sunrise
For the latest details on the Company, its properties, management team and philosophy, please visit our website at www.nevadasunrise.com.
All data, as reported to the company by McClelland Laboratories, Inc., American Assay Laboratories and ALS Chemex have been reviewed by Dr. Odin D. Christensen. Dr. Christensen, a Qualified Person under Canadian National Instrument 43-101 and Senior Geologist and a director of the Company, is the Qualified Person responsible for the preparation of the technical information included in this document and for supervision of field activities related to the Company's projects.
CAUTIONARY NOTE
This release contains forward-looking statements which may include, but is not limited to, statements with respect to the timing of our exploration and drilling programs; geological models; expectations related to enhancing resource grades; financing plans and availability of future financing for our projects; anticipated results of our exploration, mineral resource estimates and other plans, projections, estimates and expectations. Forward-looking statements address future events and conditions which are subject to various risks and uncertainties which are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. For details of the Company, its business and properties, including risks relating to an investment in securities of the Company, see the Company's prospectus dated June 25, 2008, as amended by an amendment dated August 22, 2008, both of which are available on SEDAR at www.sedar.com, or directly from the Company.
Cautionary Note to United States Investors Concerning Estimates of Measured, Indicated and Inferred Resources: This news release uses the terms "Indicated" and "Inferred" Resources. United States investors are advised that while such terms are recognized and required by Canadian regulations, the United States Securities and Exchange Commission does not recognize them. "Inferred Mineral Resources" have a great amount of uncertainty as to their existence, and as to their economic and legal feasibility. It cannot be assumed that all or any part of an Inferred Mineral Resource will ever be upgraded to a higher category. Under Canadian rules, estimates of Inferred Mineral Resources may not form the basis of feasibility or other economic studies. United States investors are cautioned not to assume that all or any part of Indicated Mineral Resources will ever be converted into Mineral Reserves. United States investors are also cautioned not to assume that all or any part of an Inferred Mineral Resource exists, or is economically or legally mineable.
The TSX Venture exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. The Securities of Nevada Sunrise Gold Corporation have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold within the United States or to the account or benefit of any U.S. person.
FOR FURTHER INFORMATION:
William B. Henderson
President and Chief Executive Officer
Telephone: (530) 887-9901
Facsimile: (530) 884-3822
© MarketWire 2009
Friday, November 21, 2008
Why Silver is Experiencing Such a Crisis
Adam Hamilton talks on why silver is in crisis:
Silver, an asset which many investors thought would thrive during a financial-market panic, has been scourged mercilessly. After briefly surging above $20 in March, it nonchalantly traded between $16 and $19 or so for the next 5 months. Silver was on top of the world, consolidating high, and all looked well.
Rest of story...
Silver futures for December delivery today dropped to 16 cents, or 1.7 percent, to $9.33 an ounce.
Silver, an asset which many investors thought would thrive during a financial-market panic, has been scourged mercilessly. After briefly surging above $20 in March, it nonchalantly traded between $16 and $19 or so for the next 5 months. Silver was on top of the world, consolidating high, and all looked well.
Rest of story...
Silver futures for December delivery today dropped to 16 cents, or 1.7 percent, to $9.33 an ounce.
Sunday, November 9, 2008
Silver Eagle Provides Financial and Operational Update
TORONTO, ONTARIO, Nov 07, 2008 (MARKET WIRE via COMTEX) -- Silver Eagle Mines Inc. (CA:SEG) ("Silver Eagle" or the "Company") announces that due to the steep decline in metal prices, it is reviewing and considering all options and strategic alternatives to enhance stakeholder value.
As a result of the significant downturn in silver, lead and zinc prices, the Company has experienced lower than planned cash flows from operations. These cash flows are insufficient to cover the operating and corporate costs of the Company and as a result, Silver Eagle has minimal available cash resources. Silver Eagle has taken and is continuing to take steps to reduce cash costs and expenses both at its operations and its corporate offices.
The Company had been engaged in extended negotiations in respect of an anticipated loan financing to stabilize the Company's cash position, which negotiations have now been terminated.
Silver Eagle has engaged Haywood Securities Inc. to act as its financial and strategic advisor, to perform a strategic review of the Company.
The Company is considering all potential alternatives, including potentially raising additional capital, completing a merger or acquisition transaction, selling assets, putting the mine on care and maintenance or ceasing operations at the mine.
There can be no assurance that the Company will complete any transaction that may arise in connection with any of the above.
Silver Eagle is a Canadian-based mining company, the primary asset of which is its wholly-owned Mexican subsidiary, San Pedro Resources, S.A. de C.V., which controls the fully-permitted Miguel Auza Mine and adjacent properties in Zacatecas, Mexico. Since the commissioning of the expanded mill in September, it has processed 18,613 tonnes of ore grading 1.82% Pb, 2.06% Zn and 205 gpt Ag, producing 467 tonnes of zinc concentrates, 460 tonnes of lead concentrates, with 89,302 ounces of Ag contained in the above mentioned concentrates. To date, November processing is averaging 513 tpd. Concentrates are being hauled to the Manzanillo port where they are being exported.
ON BEHALF OF THE BOARD OF DIRECTORS OF SILVER EAGLE MINES INC.
Terrence H. Byberg, President and CEO
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Silver Eagle Mines Inc.
Terrence H. Byberg
President and CEO
(416) 361-1101
(416) 361-9280 (FAX)
Email: info@silvereaglemines.com
Website: www.silvereaglemines.com
SOURCE: Silver Eagle Mines Inc.
mailto:info@silvereaglemines.com
http://www.silvereaglemines.com
Copyright 2008 Market Wire, All rights reserved.
As a result of the significant downturn in silver, lead and zinc prices, the Company has experienced lower than planned cash flows from operations. These cash flows are insufficient to cover the operating and corporate costs of the Company and as a result, Silver Eagle has minimal available cash resources. Silver Eagle has taken and is continuing to take steps to reduce cash costs and expenses both at its operations and its corporate offices.
The Company had been engaged in extended negotiations in respect of an anticipated loan financing to stabilize the Company's cash position, which negotiations have now been terminated.
Silver Eagle has engaged Haywood Securities Inc. to act as its financial and strategic advisor, to perform a strategic review of the Company.
The Company is considering all potential alternatives, including potentially raising additional capital, completing a merger or acquisition transaction, selling assets, putting the mine on care and maintenance or ceasing operations at the mine.
There can be no assurance that the Company will complete any transaction that may arise in connection with any of the above.
Silver Eagle is a Canadian-based mining company, the primary asset of which is its wholly-owned Mexican subsidiary, San Pedro Resources, S.A. de C.V., which controls the fully-permitted Miguel Auza Mine and adjacent properties in Zacatecas, Mexico. Since the commissioning of the expanded mill in September, it has processed 18,613 tonnes of ore grading 1.82% Pb, 2.06% Zn and 205 gpt Ag, producing 467 tonnes of zinc concentrates, 460 tonnes of lead concentrates, with 89,302 ounces of Ag contained in the above mentioned concentrates. To date, November processing is averaging 513 tpd. Concentrates are being hauled to the Manzanillo port where they are being exported.
ON BEHALF OF THE BOARD OF DIRECTORS OF SILVER EAGLE MINES INC.
Terrence H. Byberg, President and CEO
This news release contains "forward-looking information" which may include, but is not limited to, statements with respect to the future financial or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates", or "believes" or variations (including negative variations) of such words and phrases, or state that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements, whether as a result of new information, future events or results or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. The Company undertakes no obligation to update forward-looking statements if circumstances, management's estimates or opinions should change, except as required by securities legislation. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contacts:
Silver Eagle Mines Inc.
Terrence H. Byberg
President and CEO
(416) 361-1101
(416) 361-9280 (FAX)
Email: info@silvereaglemines.com
Website: www.silvereaglemines.com
SOURCE: Silver Eagle Mines Inc.
mailto:info@silvereaglemines.com
http://www.silvereaglemines.com
Copyright 2008 Market Wire, All rights reserved.
Wednesday, September 3, 2008
2Q Results for Sabina Silver
VANCOUVER, BRITISH COLUMBIA, Sep 03, 2008 (MARKET WIRE via COMTEX) -- Sabina Silver Corporation (the "Company") announced today the financial results for the period ended June 30, 2008. The Company ended the first half of 2008 with cash and security investment resources of $44,598,201.
"Although the first half of 2008 was a challenging one for Sabina," said Tony Walsh, President and CEO, "the Company is now poised to deliver on its commitments to create further shareholder wealth. A strategic plan has been created that both pushes the large Hackett River Project forward, while at the same time looking for opportunities to provide solid share performance and create further value during the interim."
Hackett River is the Company's flag ship project in Nunavut Canada. Not only is it one of the largest undeveloped silver projects around, but it is in one of the world's most appealing mining jurisdictions. As announced earlier this month, the Company has added some key team members; is focusing on preserving cash; has completed this year's required work to push Hackett River forward; and is evaluating other projects and companies for merger and acquisition opportunities.
"We believe all these things are adding value to the Company, and put us in a great position with a great message when we start our major marketing campaign this month," said Mr. Walsh, "I have no doubt that Sabina has the elements of an attractive investment and that we will be able to communicate that to the investment community."
Financial Results
For the three months ended June 30, 2008, the Company reported a net loss of $6,778 as compared to net earnings of $4,543,187 for the same period in 2007. The earnings in fiscal 2007 were a result of sales of securities during that period. The Company's earnings are primarily derived from the interest, sales and changes in fair value on investments held for trading and sale. Expenses in the period were nearly offset by earnings in the same period.
The Company had cash and security investment resources of $44,598,201 at June 30, 2008 as compared with $50,632,747 at December 31, 2007. All security investment resources are held in guaranteed investment certificates at Canadian banks and in marketable Canadian securities. The decrease in cash and investment resources is primarily due to exploration expenditures of $8,936,422 in the six month period which was partially offset by an increase in fair market value of marketable Canadian securities held for resale. The Company is fully financed to reach its feasibility and permitting objectives on the Hackett River Project.
Subsequent to the end of the quarter, Mr. John Wakeford and Ms. Elaine Bennett were appointed Senior Vice-President, Corporate Development and Vice-President, Finance & Chief Financial Officer respectively (see News release dated August 20, 2008 on the Company's website).
Mr. Wakeford has been granted 700,000 stock options exercisable at a price of $0.99 per share for a period of five years; Ms. Bennett has been granted 500,000 stock options exercisable at a price of $0.90 per share for a period of five years.
For the full June 30, 2008 financial statements and Management's Discussion and Analysis, please see the Company website at www.sabinasilver.com.
SABINA SILVER CORPORATION is a Canadian public mineral exploration and development company with assets at the Hackett River silver-zinc project in the Canadian Arctic, the Del Norte project in the Stewart-Eskay Creek Mining District and several projects in the Red Lake gold camp.
Forward Looking Statements
Statements relating to permitting, feasibility and exploration work at the Hackett River project and the expected results of this work are forward-looking statements within the meaning of securities legislation of certain Provinces in Canada. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in the estimation of metal reserves and resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Sabina's operations and other risks and uncertainties, including those described in Sabina's Annual Report for the year ended December 31, 2007.
Forward-looking statements are based on the beliefs, estimates and opinions of Sabina's management on the date the statements are made. Sabina undertakes no obligation to update these forward-looking statements should management's beliefs, estimates or opinions, or other factors, should change.
This news release has been authorized by the undersigned on behalf of Sabina Silver Corporation.
Tony Walsh, President and CEO
Contacts:
Sabina Silver Corporation
Nicole Hoeller
Director, IR
1-888-648-4218
Email: nhoeller@sabinasilver.com
Website: www.sabinasilver.com
SOURCE: Sabina Silver Corporation
mailto:nhoeller@sabinasilver.com
http://www.sabinasilver.com
"Although the first half of 2008 was a challenging one for Sabina," said Tony Walsh, President and CEO, "the Company is now poised to deliver on its commitments to create further shareholder wealth. A strategic plan has been created that both pushes the large Hackett River Project forward, while at the same time looking for opportunities to provide solid share performance and create further value during the interim."
Hackett River is the Company's flag ship project in Nunavut Canada. Not only is it one of the largest undeveloped silver projects around, but it is in one of the world's most appealing mining jurisdictions. As announced earlier this month, the Company has added some key team members; is focusing on preserving cash; has completed this year's required work to push Hackett River forward; and is evaluating other projects and companies for merger and acquisition opportunities.
"We believe all these things are adding value to the Company, and put us in a great position with a great message when we start our major marketing campaign this month," said Mr. Walsh, "I have no doubt that Sabina has the elements of an attractive investment and that we will be able to communicate that to the investment community."
Financial Results
For the three months ended June 30, 2008, the Company reported a net loss of $6,778 as compared to net earnings of $4,543,187 for the same period in 2007. The earnings in fiscal 2007 were a result of sales of securities during that period. The Company's earnings are primarily derived from the interest, sales and changes in fair value on investments held for trading and sale. Expenses in the period were nearly offset by earnings in the same period.
The Company had cash and security investment resources of $44,598,201 at June 30, 2008 as compared with $50,632,747 at December 31, 2007. All security investment resources are held in guaranteed investment certificates at Canadian banks and in marketable Canadian securities. The decrease in cash and investment resources is primarily due to exploration expenditures of $8,936,422 in the six month period which was partially offset by an increase in fair market value of marketable Canadian securities held for resale. The Company is fully financed to reach its feasibility and permitting objectives on the Hackett River Project.
Subsequent to the end of the quarter, Mr. John Wakeford and Ms. Elaine Bennett were appointed Senior Vice-President, Corporate Development and Vice-President, Finance & Chief Financial Officer respectively (see News release dated August 20, 2008 on the Company's website).
Mr. Wakeford has been granted 700,000 stock options exercisable at a price of $0.99 per share for a period of five years; Ms. Bennett has been granted 500,000 stock options exercisable at a price of $0.90 per share for a period of five years.
For the full June 30, 2008 financial statements and Management's Discussion and Analysis, please see the Company website at www.sabinasilver.com.
SABINA SILVER CORPORATION is a Canadian public mineral exploration and development company with assets at the Hackett River silver-zinc project in the Canadian Arctic, the Del Norte project in the Stewart-Eskay Creek Mining District and several projects in the Red Lake gold camp.
Forward Looking Statements
Statements relating to permitting, feasibility and exploration work at the Hackett River project and the expected results of this work are forward-looking statements within the meaning of securities legislation of certain Provinces in Canada. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will," "would," "may," "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. These forward-looking statements are subject to a variety of risks and uncertainties which could cause actual events or results to differ materially from those reflected in the forward-looking statements, including, without limitation: risks related to fluctuations in gold prices; uncertainties related to raising sufficient financing to fund the planned work in a timely manner and on acceptable terms; changes in planned work resulting from weather, logistical, technical or other factors; the possibility that results of work will not fulfill expectations and realize the perceived potential of the Company's properties; uncertainties involved in the estimation of metal reserves and resources; the possibility that required permits may not be obtained on a timely manner or at all; the possibility that capital and operating costs may be higher than currently estimated and may preclude commercial development or render operations uneconomic; the possibility that the estimated recovery rates may not be achieved; risk of accidents, equipment breakdowns and labour disputes or other unanticipated difficulties or interruptions; the possibility of cost overruns or unanticipated expenses in the work program; the risk of environmental contamination or damage resulting from Sabina's operations and other risks and uncertainties, including those described in Sabina's Annual Report for the year ended December 31, 2007.
Forward-looking statements are based on the beliefs, estimates and opinions of Sabina's management on the date the statements are made. Sabina undertakes no obligation to update these forward-looking statements should management's beliefs, estimates or opinions, or other factors, should change.
This news release has been authorized by the undersigned on behalf of Sabina Silver Corporation.
Tony Walsh, President and CEO
Contacts:
Sabina Silver Corporation
Nicole Hoeller
Director, IR
1-888-648-4218
Email: nhoeller@sabinasilver.com
Website: www.sabinasilver.com
SOURCE: Sabina Silver Corporation
mailto:nhoeller@sabinasilver.com
http://www.sabinasilver.com
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