Mamboni's Metal Mania!!!

[osoab]

With the USD down big the last two days, it does not make a lick of sense to me. CDE got pounded hard after a big run-up. Anyhow, I'm holding.


I'm thinking the lack of a POMO day helped a lot. The carnage occurred during NY time. We had the same dip-ounce today as occurred yesterday with the LBMA sets.

I am thinking of taking a postion in ZSL (silver short etf) with the rest of my ammo as a hedge. The miners really tanked late in the day.

I am glad you posted LG, I keep thinking I may be talking to myself. :D


Or for less leverage, GLL ultra short gold.


I will stay out of the double and triple etf's. I am not that nimble and the degredation would kill a non-nimble newbie.

[mike88]

In SXRZF since wed. uranium play. Aunff down, Ussif up . pnpff sold for small gain.

[osoab]

http://tfmetalsreport.blogspot.com/2011/01/that-was-then-this-is-now.html

This a blog by Turd Fergusson over @ ZeroHedge. Good stuff. This post is about the movement today and yesterday in the pm's.

[osoab]

http://tfmetalsreport.blogspot.com/2011/01/that-was-then-this-is-now.html

This a blog by Turd Fergusson over @ ZeroHedge. Good stuff. This post is about the movement today and yesterday in the pm's.


He was speculating that China was the one shorting metals yesterday ahead of their rate hike.

If we close below 28 today (which has passed for NYMEX) lookout below on the miners for Monday.

[osoab]

http://tfmetalsreport.blogspot.com/2011/01/that-was-then-this-is-now.html?showComment=1295032453402#c71129381077520 65948


Interesting comment at turds site.


Quintus said...
Bullionvault.com today updating clients that AGAIN (Second time in as many weeks) their deliveries of 1000oz Silver bars from the LBMA have been unexpectedly delayed.

Anyone know how to validate this?

[osoab]

http://tfmetalsreport.blogspot.com/2011/01/that-was-then-this-is-now.html?showComment=1295032453402#c71129381077520 65948


Interesting comment at turds site.


Quintus said...
Bullionvault.com today updating clients that AGAIN (Second time in as many weeks) their deliveries of 1000oz Silver bars from the LBMA have been unexpectedly delayed.

Anyone know how to validate this?


Confirmation?

BullionVault.com Runs Out Of Silver In Germany (http://www.zerohedge.com/article/bullionvaultcom-runs-out-silver-germany)

[Libertarian_Guard]

Let’s see, more and more people are taking silver delivery rather than accepting cash settlement. Bullion sales are up. And mining output peaked long ago?

I think I know how this will play out!


http://i52.tinypic.com/302qpt0.jpg

[osoab]

Let’s see, more and more people are taking silver delivery rather than accepting cash settlement. Bullion sales are up. And mining output peaked long ago?

I think I know how this will play out!


http://i52.tinypic.com/302qpt0.jpg



I'm glad you got a vertical takeoff this time. ;D

It won't happen Monday. We have MLK holiday, or you could call it payoff day for public employees.

[osoab]

So what was the metal dump reasoning today. Not bonds and not oil. Bucky started to trend up @ the moment Au and Ag started down near the pm fix still didn't account for the weakness. Seems like 29 Ag is getting resistance. Miners were up nicely early and took it on the chin late in the day with the metal sell off.

KBX is still a downer, not happy with this guy. URZ has fared much better.

Starfield had a down day after another up day yesterday (I think). Kudos to R.i.a.b. again.

SHZ had a nice day down around 18%. This is probably the reason. This is more than a 10% dilution. Sitting @ 6.61 currently. Even though Chinese, it still is a working REE mine. I had been looking for a swing like this to get into it, but I will need to research if any new mines are coming online.


9:15AM China Shen Zhou Mining announces registered direct placement of ~$20 million of common stock and warrants (SHZ) 8.11 : Co announces that it has entered into a securities purchase agreement with several institutional investors for a registered direct placement of ~$20 million of common stock at a price of $7.05 per share. The Company will issue a total of 2,836,883 shares to these institutional investors. In addition, the Company will issue warrants to the institutional investors to purchase up to 851,066 shares of common stock, which, if fully exercised for cash, would provide an additional $7.2 million in gross proceeds to the Company. The three-year warrants have an exercise price of $8.46 per share and are exercisable immediately following the closing date. The net proceeds from this offering will be used for general corporate purposes and working capital, including general and administrative expenses, and potential ordinary course acquisitions that complement our business. In addition, the Company will use ~$5 million of the net proceeds from this offering for the acquisition and renovation of the mining facilities of the Xinyi Fluorite Company, Ltd.

[RUSH.IS.A.BAND]

Thanks. I think STARFIELD RES INC. is gonna be a solid one. Everything looked too good for it not to move, glad I got in at .07 . Personally, based on my research, AREM is a russian money laundering scheme or something of that matter. . Plus, look at their chart, it looks like a EKG monitor screen with heart arithmea. :D...... Now Ag, hmmmm, Im holding some SLV until the 16:1 correction, or somewhere close to it, and the way metals have been acting recently, it only makes sense that it's gonna spike up again shortly after this bribed out beatdown. Another no brainer at this time for steady, fast growth in the next year, IMO, is big food corp. stocks like CONAGRA. (unfortunately for most) . Just my .02 ;)

R.A.I.B.

[Libertarian_Guard]

Let’s see, more and more people are taking silver delivery rather than accepting cash settlement. Bullion sales are up. And mining output peaked long ago?

I think I know how this will play out!


http://i52.tinypic.com/302qpt0.jpg



I'm glad you got a vertical takeoff this time. ;D

It won't happen Monday. We have MLK holiday, or you could call it payoff day for public employees.


And nothing happened this week . . . so far as the upside.

The game isn't over just yet.

Give it time.

[osoab]

Alright, what was going on yesterday. Bucky down, bonds were muted, oil down, gold down, silver down.

I can understand the overnight weakness with the bucky rising nicely, but yesterday makes no sense.

Opex is on Wednesday.

[Neuro]

A few weeks ago I switched some of my pension funds from gold miners fund (40%) to a forestry fund, gold miners went down 12% and forestry went up 2%, today I sold the forestry fund and bought back the gold miners. 100% in gold miners now! Maybe a bit early, but I think we hit bottom this week...

[osoab]

A few weeks ago I switched some of my pension funds from gold miners fund (40%) to a forestry fund, gold miners went down 12% and forestry went up 2%, today I sold the forestry fund and bought back the gold miners. 100% in gold miners now! Maybe a bit early, but I think we hit bottom this week...


I'm thinking a little early. I didn't dump, so I am riding this wave wherever she goes. We may see the DOW rocket past 12,000 where the miners are taking it on the chin. Cyclist over @ kitco dumped everything the 1st week and is looking for a dump. URZ (uranium) has been the best performer the last couple of weeks for me.

I'm not calling a bottom and I can't complain with cheaper physical. ;D

[Libertarian_Guard]

Maybe a bit early, but I think we hit bottom this week...


Now that I'll second!

The bottom is in, before the week is out.


http://i56.tinypic.com/2qvbhjl.jpg

[osoab]

Opex today. What will we see?

[osoab]

Wow no rockets on the site anywhere today.
Since there is something to write home about today....


Some coincidence with the metal uptick and the dollars plunge.

Bond yields spiked a bit too.


Maturity LastYield PreviousYield
3 Month 0.16% 0.15%
2 Year 0.52% 0.49%
5 Year 2.00% 1.93%
10 Year 3.43% 3.32%
30 Year 4.60% 4.47%
Data as of 4:00pm E

URZ had a nice day, up damn near 10%. URRE was up almost 16%. Uranium seems to be chugging along. Write up on the radioactive metal in 321gold today (http://www.321energy.com/editorials/energyreport/energyreport012711.html). I haven't read it yet.


EXK finished 9.75% up in the afterhours.

MGH up 10% too. MGH (http://www.321gold.com/editorials/moriarty/moriarty012411.html) had a write up over at 321 gold the other day. Moriarty is talking his book, but he does bring up some valid points. It still is a Chinese mining operation. Since they just nationalized 11 REE mines, some care with Chinese miners is warranted more now than ever imho.

Today still hasn't erased the losses from the 1st of the year for me. I held before, but I will think real hard about dumping when we seem to get toppy again. Granted this could just be a one day dance and we resume the path down tomorrow.

[mike88]

USSIF< AUNFF<PNPFF....all green today. Sold Uranium 1 position for gain. in hold mode now, looking at CHIM, AG,EGY for next holdings. Physical seems to be on the uptrend again. Will be in Vegas 14 to 17 feb for 60th birthday, will check out the vending machine @ Golden Nugget, staying next door@ 4 Queens, 3 day comped room. Good start on new gardenplot, planting here in about 8 weeks. Stock market should do well next two years, tptb will keep er pumped i think in anticipation of 2010 elections. Food, energy, metals will be thrust of investment strategy for this timeframe.

[osoab]

USSIF< AUNFF<PNPFF....all green today. Sold Uranium 1 position for gain. in hold mode now, looking at CHIM, AG,EGY for next holdings. Physical seems to be on the uptrend again. Will be in Vegas 14 to 17 feb for 60th birthday, will check out the vending machine @ Golden Nugget, staying next door@ 4 Queens, 3 day comped room. Good start on new gardenplot, planting here in about 8 weeks. Stock market should do well next two years, tptb will keep er pumped i think in anticipation of 2010 elections. Food, energy, metals will be thrust of investment strategy for this timeframe.


Happy early birthday Mike. I had better say it now, I will probably forget in a few days.

[mike88]

thanx Osoab, will report on the gold vending machine upon return. The very idea blows my mind.

[osoab]

thanx Osoab, will report on the gold vending machine upon return. The very idea blows my mind.


I would like to know the markup for the machine. Look to see how many cameras and security guards are near it.

[osoab]

I think Blythe didn't take the day off today. I am surprised by the move down in gold. Au kept pace with Ag.

The gap down in Au and Ag preceded the up move in the bucky this morning. The move down in the metals and the move up in the dollar seems to have coincided tonight. The Asians no likey the metal this evening.

Did have one in the green today KBX. Still down though.

ZeroHedge had an article Here It Comes: US Suspends New Issuance Under Supplementary Financing Program, $200 Billion Liquidity Gusher Imminent (http://Here It Comes: US Suspends New Issuance Under Supplementary Financing Program, $200 Billion Liquidity Gusher Imminent) that they updated with confirmation.

ZH seems to think that the extra 25 billion is going to run the stock market up. I keep thinking the market ramp will be smaller than expected and the smash of the metals will end up being magnified with the new bullets available.

This is the silver March and May options chart respectively. Triple top?

[osoab]

Hours of Commodities Trading, Oil (http://www.liveoilprices.co.uk/oil_market/hours_of_commodities_trading.html)


NYMEX Light Crude Oil Trading Hours

Trading Hours (All times are New York time).

Open outcry trading is conducted from 9:00 AM until 2:30 PM.

Electronic trading is conducted from 6:00 PM until 5:15 PM via the CME Globex® trading platform, Sunday through Friday.

There is a 45-minute break each day between 5:15PM (current trade date) and 6:00 PM (next trade date).

Trading for oil and metals start in about 2 hours. Which way do we go?

Talked to local gas station owner.
He is saying 87 octane @ $3.29 sometime tomorrow. In my area 87 octane is currently sitting around $3.02. close enough to a 10% increase on the heals of the $5ish move in oil on Friday.

[osoab]

I have been watching Egypt too closely here. I am truly fascinated by the events.

Dumped HL last Friday before the spike. Crap. Well off the price I had in early January.

Dumped EXK and MGH today. About 50% gains on both.

Metals acted well even with the margin increases and the dollars rally for the past 2 days.

URZ and URRE along with some other uranium miners spiked late in the trading session.
I cant find a good reason as of yet. Dennison Mines DNN didn't get the spike.
Damn near sold URZ earlier today. Holding through the weekend.

I am surprised by the bounce back in the metals. The commodities complex has been all over the place. Cocoa, Cotton, and Rice have been moving in large swings lately.

[Libertarian_Guard]

Osoab

You may be right, sitting it out on the sidelines, but I'm a bit hard headed, still riding it out with much of what you sold and others.

Good Luck

[osoab]

Osoab

You may be right, sitting it out on the sidelines, but I'm a bit hard headed, still riding it out with much of what you sold and others.

Good Luck


Looking at the topiness and what I consider an overbought status on the main markets, I am getting squeamish.

Would have been smarter to sell out at the top in January. I thought hard then. I had near 100% gains in HL and EXK. I didn't sell near at those gains though.

Frontier Gold was bought out by Newmont mining yesterday. They had a 41% pop. I will be concentrating on finding some juniors that would be ripe for the picking. Sitting about 1/2 cash now.

[Libertarian_Guard]

Something strange is going on with orzcf.pk (Orezone res.)

Also CDE has a big (I hope) earnings report out at the end of the month. I'm holding.

[osoab]

I couldn't wait for earnings to come out. I probably dumped too early.

[osoab]

I couldn't wait for earnings to come out. I probably dumped too early.


I dumped too early. :'( Crap happens.

Picked up some Brigus Gold this morning after the pop. Still looking for juniors that could be bought out.

AREM is not performing.

Starfield had a 21% up day. R.i.a.b. are you still holding?



Oh and the obligatory rocket. We didn't have one today that I know of.
Maybe this goading will bring the good Doctor back to handout a tongue lashing. :D


http://www.w3.org/2005/Incubator/mmsem/XGR-image-annotation-20070814/Apollo7.jpg

[osoab]

Looking at some base metal miners.

MGN (http://www.metallinemining.com/s/home.asp) is one I am looking at. Looking at the chart below, look at the bounces with the 15, 20, & 50 dma's. Finviz is showing only 23 MM shares outstanding. I am having issues nailing down the shares. Their website shows the possibility of up to 300 MM to be issued. However, they don't have a current working mine, just drilling programs in Gabon and Mexico.


I believe these are good drill results, especially at today's prices.

Jan 06, 2011
CORRECTED - Metalline Reports on Final Drill Results from 2010 at the Sierra Mojada Project (http://www.metallinemining.com/s/NewsReleases.asp?ReportID=436514&_Type=News-Releases&_Title=CORRECTED-Metalline-Reports-on-Final-Drill-Results-from-2010-at-the-Sierra-...)


I don't see how soon a working mine is going to be up and running. I am wondering if this would be a good takeover target.

[mike88]

Precious metal showing gain against inflated fiat currencies. heading on vacation with sugar pants, back friday. report on the gold vending machine in Vegas to follow. Holding Pinetree, AUNFF in stock account. Last bullion purchase was roll of 90% halves. Good trading to all.

[Libertarian_Guard]

http://i51.tinypic.com/z4dw6.jpg

[mike88]

Morning to all. Vegas downtown coming out of recent coma, Binions remodeled, Plaza being remodeled. Stayed at 202 fremont, the 4 queens. 3 day comped room. Most of the employees say the slump is over, talked to pit bosses,dealers, and the waitresses. Sugerpants got the full monty spa treatment @ Golden Nugget, mani,pedi,hair,steam,massage. I visited the gold vending machine downstairs, bought a gram bar from it. It was the pamp design with the goddess. 2.5, 5 gram were sold out that day. There is a sales rep there nearby most of the time to help with purchases,etc. 60.00 cash for the bar, came in a nice box, sealed at the box opening and sealed also at the plastic sleeve inside the box. The 1 oz. were the best bang for the buck, about an 80.00 premium if i recall. They had the pamp design, and a golden nugget branded bar slightly higher, about 100.00 premium. Prices up date in real time on the display, shove money in the bill acceptor, select, and 5 secs. later recieve the goods. The machine is located near the "golden hand" nugget on display, that was worth seeing. Fuel was 3.11/gallon. Rented a car for 30.00/day while there. Brought home coffee mugs for the babysitters with the comp points, airline flights smooth. pdx has walkthru security, the las vegas airport has the backscatter scanners. They picked up the ankle wallet full of our jewerly on the trip home, re xrayed that item and we were on our way. picked up a peace dollar money clip[ 30.00] at ace pawn two blocks north of fremont, he had around 8 more available. The smaller pawn/jewerly stores were willing to deal if you paid cash. Got a nice sterling and lapis ring 1/3 off for cash.

[Libertarian_Guard]

Mike88

Sounds good, but how did you do at the tables? You play 21 or the dice table?

[mike88]

had 1,000 on monday eve. video poker machine 5 cents a hand, 100 hands at a time, about 3 hours, mix of double bonus and dueces wild, up 40.00 by 11 pm. Lost 200.00 on craps after that, went to bed. tues, bought 50.00 ring,60.00 gram bar, 90.00 tobacco products from the paiutes in north vegas,and 30.00 money clip with win at dice tues morning. wife @ spa until around 5 pm. spent 20.00 for steam,sauna,whirlpool at Nugget. net gambling bank avail. 800.00 tues evening. 50.00 thai dinner @ ballys, we drove down there, wife played slots, i hung with her. Back to fremont street, lost 150.00 dice table @ 4 queens. WED morning 650.00 total bank remaining, blackjack @ Binions with the Cowgirls, basically wering panties and bra , boots and a cowboy hat. Had nice Hungarian dealer, then a gal from Omaha area, net win up 20.00. Spent about 40.00 tips to drink girls,dinner staff, and dealer tokes. net bank 630.00 wed evening. Dinner, 30.00, bank600.00 wed nite, loaned wife 100.00, lost 300.00 dice @ Binions, wife hits and pays back, net bank 300.00 Sent 4 envelopes cash home in the mail during the two previous days, 220.00 total. net gambling loss 480.00 for this trip. 3 days, about 20.00/hour for the actual time at tables and machines. Lotta walking around between sessions, weather 60's and sunny.

[mike88]

Just got in from work, looks like Hong Kong is buying, silver up 3.00 + since thursday. Hang on for the ride, looks like another leg up.

[mike88]

only rocket pic i had saved. Gotta put an order together now................

[osoab]

So where do we start Tuesday?

Picked up GPL (Great Panther Silver) on the AMEX last Thursday. 10% gainer so far.
I also picked up some LBSR (penny uranium miner) go lucky there with a 39% gain.
Not so lucky with MMG down about 3%. CNYC (copper) is just above even.

MGN I was talking about above is up about 10% since that post. Didn't pick any up.

I probably dumped EXK and HL too early. EXK is just back to the high in early Jan. HL is still below its early Jan high.
MFN is still below from where I sold it in Dec.

Copper has not been riding the wave of Au and Ag.
Is JPM now just trying to hold Cu down?
Is there some news that I missed about the copper market?

http://www.finviz.com/fut_chart.ashx?t=HG&cot=085692&p=h1

http://www.finviz.com/fut_chart.ashx?t=SI&cot=084691&p=h1

http://www.finviz.com/fut_chart.ashx?t=GC&cot=088691&p=h1

[osoab]

Seems like you had a good time in LV mike. What was construction like in the area? Any gossip from the locals?

[JJ.G0ldD0t]

Well crap...

I figured TPTB would fight yesterday's rally alot harder than this and there would have been a bigger dip today - closer to 31.50.

I was gonna pick up another 35 oz on the dip today.

maybe it'll happen by lunch time :D

[osoab]

Well crap...

I figured TPTB would fight yesterday's rally alot harder than this and there would have been a bigger dip today - closer to 31.50.

I was gonna pick up another 35 oz on the dip today.

maybe it'll happen by lunch time :D


Buy now and buy more later. ;D

[JJ.G0ldD0t]

Well crap...

I figured TPTB would fight yesterday's rally alot harder than this and there would have been a bigger dip today - closer to 31.50.

I was gonna pick up another 35 oz on the dip today.

maybe it'll happen by lunch time :D


Buy now and buy more later. ;D


yeah- kinda what Im thinkin' :D


I bet a lotta schmuks went into the coin shop yesterday and sold- oughtta be a great selection today

[osoab]

Well crap...

I figured TPTB would fight yesterday's rally alot harder than this and there would have been a bigger dip today - closer to 31.50.

I was gonna pick up another 35 oz on the dip today.

maybe it'll happen by lunch time :D


Buy now and buy more later. ;D


yeah- kinda what Im thinkin' :D


I bet a lot ta schmuks went into the coin shop yesterday and sold- oughtta be a great selection today


I might swing in to the local guy today. Closed on Mondays.

[osoab]

Slaughter across all sectors except oil and cocoa.

The grains were all lock limit down for all purposes.

The miners never really responded to the rise that occurred on Monday.
GPL did get up about 10% early today. It did not finish there.

I can't believe SLW was trading above 41 earlier today.

Opex is tomorrow for Au and Ag. I don't believe that Ag is that big of an issue, it is not a delivery month.

I guess Blythe earned her paycheck for today's action.

[mike88]

The Horseshoe got white ceilings in the table game area, the nicotine soaked dark wood ceiling is no more. One new casino going in just north of the Sahara, looked pretty slow other than that. The city busses are new tho, articulated, shaped like locomotives, gold in color. Plaza getting a makeover, ready by April. 6 people playing slots in the area still open, pretty quiet.

[mike88]

AUNFF green today, PNPFF green today. core bullion green today. IRS coming across with personal version of QE for the household.

[osoab]

http://www.youtube.com/watch?v=X34JarNjoIU

Well what a day. Gadaffi is rumored to be shot, oil gets some margin hikes, and the whole complex goes to the crapper.

URZ came back a bit today to buck the trend. The uranium miners have been taking it on the chin the last couple of weeks.

GPL got slaughtered, down +10%.

KBX another horrendous one. I had just started to get some nice green on this guy.

Didn't take long for SLW to fall below 41. I still can't believe mines sell their silver to SLW for pennies.

I was almost back to even on TGB. Today didn't help. :'(

So what can Blythe pull out of her crack tomorrow?

[mike88]

Pinetree Capital, AUNFF on a bit of a tear today. Not a bad uptick for silver bullion either, the slamdowns are less and less effective as time goes by..........

[Libertarian_Guard]

Something strange is going on with orzcf.pk (Orezone res.)

Also CDE has a big (I hope) earnings report out at the end of the month. I'm holding.


Regarding CDE, does 15% qualify as big?


:oo-->

[osoab]

Something strange is going on with orzcf.pk (Orezone res.)

Also CDE has a big (I hope) earnings report out at the end of the month. I'm holding.


Regarding CDE, does 15% qualify as big?


:oo-->


Looks like 14% finish in the afterhours. If that isn't big, I don't know what to call GPL's 17%+ gain today. ;D

That is about a 50% gain in GPL for 2 weeks. Dump it or wait for some silver weakness? When silver dumped last Thursday, GPL acted as if the world had ended. It was down 15% or so that day. Granted it did rebound 10% on Friday.

AREM is still going lower. I will hold on. If it gets real low, I will buy back in to reduce my share cost.

[osoab]

Looks like GPL finished 21%+ up for the day. I would expect a nice down tomorrow. ;D

HL got smashed even when silver touched 34.00.

Skeletons Emerge From Hecla's Closet (http://www.fool.com/investing/general/2011/02/28/skeletons-emerge-from-heclas-closet.aspx)


Hecla delayed its fourth-quarter earnings release in order to report on the progress of ongoing efforts to settle litigation brought by the Coeur d'Alene Indian Tribe and the federal government during the 1990s. The issue stems from the practices of multiple mining companies in Idaho's Coeur d'Alene River Basin prior to 1968, when some 100 million tons of waste rock carrying harmful heavy metals was reportedly introduced into the region's river system. Coeur d'Alene Mines (NYSE: CDE), for its part, settled its own liability in this case way back in 2001. With the federal government's remediation efforts expected to carry a final price tag above $2.2 billion, Hecla seeks to settle its share of the liability for $262 million.

The resulting accrual of $193.2 million for Hecla -- beyond its previously estimated liability -- polluted Hecla's quarterly result, converting a laudable operating performance into a deeply disappointing $13.1 million net loss! Now, rather than hailing the miner's impressive cash cost of negative $0.14 per ounce of silver produced -- still trailing only Silvercorp Metals (NYSE: SVM) among the industry's lowest-cost producers -- shareholders are instead left to consider the effect of a $262 million outlay upon this company's ability to fund growth in the near to medium term.

Although seemingly much smaller in scale by comparison, a close inspection of the company's filings will reveal that Hecla may face additional environmental liabilities. For example, Burlington Northern Santa Fe, the railroad acquired by Berkshire Hathaway (NYSE: BRK-B) (NYSE: BRK-A), is seeking compensation for clean-up costs for a historical mine site on the grounds of a BNSF rail yard. Although the company claims no liability, the Environmental Protection Agency is apparently scrutinizing two additional Superfund sites in South Dakota and Colorado, where a company that Hecla acquired in 1991 had previously operated.

Anyone in SVM?

[Libertarian_Guard]

Coeur's shares exploded as much as 15% higher Monday, after the miner posted solid fourth-quarter operating data boosted by this unrelenting bull market for both precious metals. Coeur's sales flew 75% higher, while cash flow rocketed 186% to reach $99.4 million for the period.

Keeping consolidated 2010 cash costs under control at $7.07 per ounce of silver, during a transitional year that saw the launch of Coeur's Kensington gold mine in Alaska, the miner is well-positioned to enjoy a further 59% expansion of gold output, to 250,000 ounces during 2011 (from 157,000 ounces in 2010). Silver volumes are seen rising 19%, to 20 million ounces.

http://www.fool.com/investing/general/2011/02/28/coeur-launches-on-the-gold-and-silver-rocket.aspx

[Libertarian_Guard]

Endeavour Silver (EXK) should take the checkerd flag today! It's up 7% just before noon time.

Endeavour plans to release its Fourth Quarter and Year-End 2010 financial results before the market open on Tuesday, March 22, 2010. A conference call to discuss the results will follow at 10:00 AM Pacific Time (1:00 PM Eastern Time) on the same day. Endeavour also plans to release its updated NI 43-101 reserves and resources next week.

http://finance.yahoo.com/news/Endeavour-Silver-Expands-iw-3954254254.html?x=0&.v=1

[osoab]

Endeavour Silver (EXK) should take the checkerd flag today! It's up 7% just before noon time.

Endeavour plans to release its Fourth Quarter and Year-End 2010 financial results before the market open on Tuesday, March 22, 2010. A conference call to discuss the results will follow at 10:00 AM Pacific Time (1:00 PM Eastern Time) on the same day. Endeavour also plans to release its updated NI 43-101 reserves and resources next week.

http://finance.yahoo.com/news/Endeavour-Silver-Expands-iw-3954254254.html?x=0&.v=1






I am seeing up 13.03% on the day for EXK. Very nice. I am disappointed that I dumped a few weeks back. Oh well.

Had a few winners today. GPL up 13.24%, BRD up 16.15%, & MMG up 12.5%. Still had a few losers in the longshot miners.

Silver was up 21.3% month to date. How long are we running for? Until opex?

[osoab]

Got underwear? http://www.finviz.com/futures_performance.ashx?v=14

http://www.finviz.com/fut_image.ashx?relative_m3.png&rev=634345987897452500

[mike88]

silver around 1.15 "dollars" gram......................................

[mamboni]

Thursday, October 6, 2011


No Longer A "Barbarous Relic," Gold Is A "High Quality Liquid Asset" (http://truthingold.blogspot.com/2011/10/no-longer-barbarous-relic-gold-is-high.html)


The initiative is supported by the World Gold Council, who recently submitted evidence to the Basel Committee for gold to be included in banks' "Tier 1" assets by European banking regulators, recognising gold’s growing relevance as a high quality liquid asset.
The "initiative" refers to the decision by LCH.Clearnet (London Clearing House) - the world's largest clearing agency for fixed income securities - to accept gold as collateral for "clearing" trades. This is huge. Here's the press release: LINK (http://www.lchclearnet.com/Images/2011-10-06%20LCH.Clearnet%20to%20accept%20gold%20as%20coll ateral_tcm6-58735.pdf)

For those who don't know, every trade for every security needs to "cleared" - i.e. securities and cash need to be mechanically/electronically delivered and title to securities transferred. The clearing house steps in matches the buy-side and the sell-side, making sure that both the funds to pay for the trade and delivery of securities occurs (let's keep it simple and not introduce naked shorting and all the rule violations that go on, especially in the U.S. and Canada). If one side of the trade fails, the clearing house - in this case LCH - assumes the liability.

In other words, in exchange for guaranteeing both sides a trade, clearing firms require collateral deposits by anyone who wants to be a member of that particular clearing firm (i.e. these days anyone who wants to trade). And we're not talking about just 100 share lot daytrader trades. Typical institutional "block" bond trades are in the 10's of millions. Big money. Big counterparty risk. If you look at your own account, every security position in there will have the "fingerprints" of a clearing agency on it. This is big business with big dollars involved and big risk if a big counterparty to the trade fails before it clears.

The acceptance of gold as collateral (remember the term "good as gold?" It's back) is beginning to proliferate. JP Morgan announced several months ago that it would accept gold as collateral for loans; the CME - parent of the Comex and one of the largest futures trading exchanges in the world - started accepting gold a year ago. Another very large, global firm - ICE (Intercontinental Exchange, which trades futures, OTC securities and also functions as a clearing agency) made this move right after the CME did. And the Russian Central Bank, within the last year, announced that it would accept gold as collateral in its member bank lending transactions.

Everyone see the trend here? What is slowly creeping back into the mainstream business world is this idea of gold as a currency. It took about 40 years from the time Keynes declared gold to be irrelevant until the world went fully fiat in 1971. It's taking even longer for gold to be reinstated as the ultimate currency, but the truly sophisticated global market engineers are now moving in that direction (notwithstanding Donald Trump, who is not sophisticated but who recently announced that he would take gold as collateral in business deals - we all know he has plenty of worthless, bankrupt casino chips that no one will take). Surely everyone understands by now that Keynes' economic theories are a complete failure...

Myself and a colleague back in 2002 predicted that one of these days we would be able to buy a dream house for less than 10 ounces of gold. Based on what I'm seeing in the housing market and the developing markets in gold, I am still standing by that view. The question in my mind is not "if," but "how many ounces less than 10 it will take?"

At some point, I don't know when, there is going to be a global rush into gold - when the majority of businesses and the masses begin to understand why these wealthy, sophisticated financial operators are now using gold in their mix of business - that will make everyone understand why some very bright people are forecasting eventual prices for gold that are unimaginable to most people who refuse to believe or accept what is going on in the global financial system.

http://truthingold.blogspot.com/2011/10/no-longer-barbarous-relic-gold-is-high.html