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Kevin, I was not impressed with the 10Q either. The prior report was much better. I'm not sure why the company did not show a profit. I still hold GPXM but if I do not see improvement by the next 10Q then I am gone also. I bought in at .12 so I should not be in danger of losing. I read a report on the slowdown of molybdenum production for 2008 and if this does not help Golden Phoenix I don't see what will. Hopefully they will get the gold mine up and running. If it drops to .24 which is a double I will probably sell.
Exactly, Kevin. As I stated, the pullback was over due.
Today gold closed down .30 at$785.40 and silver closed up .01 at $14.43. For the week gold is down $46.70 and silver is down $1.05. This took place with very little change in the euro, euro down .0017.
Today gold closed up $15.40 at $812.40 and silver closed up .44 at $14.99.
Gold closed down $8.90 at $797.00 and silver closed down .18 at $14.55. Silver is still up .02 more than it was seven trading days ago when it closed higher than it had in over 17 years.
Tsafi, I hold more silver than gold and I did take some profit. I decided to take some of my money out and enjoy the rest. While there are pullbacks from time to time I still have every reason to believe that we are still at the beginning of a long bull market in precious metals.
As the NY market opens gold is down $19.10 at $813.00 and silver is down .47 at $15.01
Today gold closed down $3.10 at $832.10 and silver closed up .01 at 15.48. For the week gold is up $26.10 and silver is up .95.
Thanks Tsafi. I was 71 on 10-28-07.
MXOM has received gold assay readings that are rarely seen in mining. If the report is true and they are getting the equipment together to start production this is a plus as they are, up to this point, an exploration company.I would be careful here. I have a hard time trusting a company with only one active officer. I took a look at the last 10Q and came up with the following:
Current Assets----------$339,078
Total assets------------$705,526
Current Liabilities-----$1,615,570
Total Liabilities-------$1,682,914
This means that the company owes 2.4 times as much as the entire company is worth and most of it is due in the current year. The company will need to continue to issue shares to survive until production starts. There were 23,071,101 O/S on 10-9-07 so there is plenty of room to proceed in this manner. On 2-15-06 the company had a reverse split of 1 for 50.
There could be some very good money made here but I would watch it closely. In the current precious metal environment nearly all mining company stocks will appreciate in value and if this company is for real and the assay readings are for real the share price could increase geometrically. Good luck!
Jerry
Goldcorp Reports Third Quarter Earnings
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 9, 2007) - All Amounts in $US unless stated otherwise.
GOLDCORP INC. (TSX:G)(NYSE:GG) today reported adjusted net earnings of $82.3 million(1), or $0.12 per share, for the quarter ended September 30, 2007.
Third Quarter 2007 Highlights:
- Gold production increases 28% to 556,200 ounces(2)
- Gold sales increase 29% to 537,200 ounces(2)
- Realized gold price of $685 per ounce
- Total cash costs of $140 per gold ounce(2,3), net of by-product credits
- Strong margin growth to $545 per gold ounce on a by-product basis
- Net earnings of $75.8 million or $0.10 per share
- Operating cash flow of $208.6 million (before working capital adjustments)(4)
- Dividends of $31.7 million paid during the quarter
- Agreement to acquire 100% ownership of key Canadian gold mines
- Reaffirms 2007 production guidance of 2.2 to 2.3 million ounces of gold at a total cash cost of $150 per ounce
Today gold closed up $4.50 at $835.20 and silver closed up .18 at $15.47. For the week gold is up $29.20 and silver is up .94.
For the week gold currently up $33.70 and silver up $1.09.
Today gold closed up $10.00 at $830.70 and silver closed up .05 at $15.29 after opening at $15.89.
GG hit another 52 week high today.
On 10-12-07 SHSH closed at .21, Currently trading at .43.
Drooy up $1.19 (14.4%) in less than two days.
NY metals market knocked silver back .58 in the first hour when silver opened in NY at $15.89, up .65.
Currently gold is up $19.30 at $840.00 in London and silver is up .60 at $15.85.
Someone released the slingshot. If the Central Banks do not intervene we will be hearing some 30 story windows open.
Gold currently $833.80 and silver $15.82
Right, Kevin. This could be the slingshot that I have been talking about but I still don't trust the Central Banks or the people that they do business with. The silver price just jumped to $15.53.
Current base metal prices:
Aluminum -------$1.1650
Copper-----------$3.4143
Lead-------------$1.7211
Nickel------------$14.2443
Uranium---------$85.00
Zinc--------------$1.2762
Doc, there is nothing wrong with a profit.
Today gold closed up $13.60 at $820.70 and silver closed up .57 at $15.24.
So far today silver hit a high of $15.48 which is a sixteen year high compared with the $16.29 high of 1981.
New CAD all time high, $1.0810.
GG hits a new 52 week high this morning by over $1.00.
DROOY was up 7% in the first few minutes.
It might be good to watch DROOY for the 1st few minutes today.
Kevin, that is true. There will be a sling shot affect in silver but I am not sure that this is it. It will depend on the Central Banks and their willingness or lack there of to allow the paper players to sink into the sunset. One thing that I notice today is that this is a very unusual event on a Tuesday. Tuesday has been a day of pullback for the PM's on about 95% of the time over the past few years.
Gold currently $821.30, silver $15.15.
This morning gold opened up $11.90 in New York at $819.00 and silver opened up .36 at $15.03.
CAD, new all time high, $1.0787.
Gold and silver are on the move in London this morning with gold up $12.70 at $819.80 and silver up .30 at $14.97.
Today gold closed up $1.10 at $807.10 and silver closed up .14 at $14.67.
Gold and silver have come out of their morning sleep with gold currently up$2.90 at $808.90 and silver up .20 at $14.73.
The CAD is currently trading at $1.0707.
Happy birthday youngster!
Today GG set another 52 week high. In the middle of August GG could be purchased for about $20.50 and is currently trading at $35.86.
Today gold and silver closed strongly with gold closing up $15.80 at $806.00 and silver closing up .30 at $14.53. For the week gold is up $22.50 and silver is up .36.