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This week the euro is up .0021 against the US dollar and the CAD is up .0039.
For the week gold is up $17.50 and silver is up .26.
Today gold closed up $6.80 at $683.50 and silver closed up .03 at $13.28.
Here are some Friday gold closing prices to show how many rallies have been followed by significant drops. These prices are not as large as the true rallies and drops but are an indication of weekly moves.
5-12-06---$710.50
6-16-06---$578.40
7-14-06---$666.30
10-6-06---$572.20
12-1-06---$645.10
1-5-07----$605.10
2-23-07---$682.90
3-9-07----$650.20
4-20-07---$691.60
6-8-07----$645.60
currently-$684.50
The current price of gold is lower that it was 14 months ago. I have absolutely no trust in the Central Banks. They are the world's greatest manipulators of wealth the world has ever seen.
Today gold closed up $4.60 at $676.70 and silver closed up .05 at $13.25.
OTTAWA (Reuters) - NovaGold Resources Inc. (NG.TO: Quote) said on Thursday that a district court in Alaska had dismissed its lawsuit against Barrick Gold (ABX.TO: Quote), saying it was too early to assess if Barrick can meet the requirements to boost its stake in the Donlin Creek gold-mining project.
NovaGold filed the suit in August 2006, alleging breach of contract and breach of fiduciary duty. It also sought a judgment clarifying the conditions for Barrick to earn an additional 40 percent stake in the project and Barrick's ability to satisfy those requirements.
NovaGold owns a 70 percent share of Donlin Creek, and Barrick the remaining 30 percent of the project, located 280 miles west of Anchorage, Alaska. Barrick inherited its stake when it took over gold miner Placer Dome in 2006.
In granting Barrick's motion to dismiss, Judge Timothy Burgess said a ruling must await the November 2007 deadline for Barrick to meet the requirements.
These include completion of a final, bankable feasibility study and a board decision on construction of a mine that will produce not less than 600,000 ounces of gold a year, NovaGold said.
Environmental approval and permitting for Donlin Creek will not start until after the November deadline, NovaGold added, and will likely not be completed for an additional two to three years.
The euro is currently 1.3804 and the CAD is .9589.
Today gold closed down .90 at $664.40 and silver closed down .04 at $12.90
Today gold closed down .70 at $665.30 and silver closed down .08 at $12.94.
Gold and silver Friday closing prices:
6-8-07---gold $645.69...silver $12.99
6-15-07--gold $654.50...silver $13.19
6-22-07--gold $653.60...silver $13.03
6-29-07--gold $647.59...silver $12.30
7-6-07---gold $652.50...silver $12.64
7-13-07--gold $666.00...silver $13.02
The euro is now 1.3777 and the Canadian dollar is .9591. I believe that this is an all time high for the euro and a multi-year high for the CAD.
GOLD RECOVERY STARTED AT NOLAN
JULY 16 , 2007- Fairbanks , Alaska – USA - Vancouver, BC – Canada
SILVERADO - OTCBB: SLGLF / Frankfurt : SLGL / Berlin : SLGL
Gold Recovery and Processing Operation
Over 670 ounces of nugget gold have already been recovered since the start of sluicing operations in late June of this year. These nuggets were pulled from the top two nugget traps alone of the wash plant and ranged in size from 1/10 ounce to 12.4 ounces per piece. Over 18,000 loose cubic yards of pay dirt (stockpiled from the past winter’s mining of the Mary’s East and Swede Channel) will be processed through the wash plant by the end of August, 2007. Total gold recoveries and related financial numbers will be released as available during the balance of the season.
Placer Gold Exploration
During March and April, company drilling on the Nolan property discovered an entirely new zone of placer gold which has been named the Jack London bench. Additional drilling later this year will test the viability of actual open pit mining of this new bench. Further drilling was also conducted in an area between the Mary’s East/Swede Channel Deposits and the Top Notch Prospect. Out of the 130 drill holes completed during this year’s first-phase of placer exploration, 40% show the presence of gold, ranging from 0.001 to 0.055 troy ounces of gold per bank cubic yard. The company intends to do more placer drilling later this summer.
Lode Gold Exploration
Since May 2007, Silverado Gold Mines has been aggressively exploring for a lode gold and antimony deposit on its Nolan property using an extensive soil sampling and geophysical campaign. Over 420 soil samples have been sent to ALS Chemex in Fairbanks for analysis. The 229 samples analyzed to date show a distinct arsenic and antimony anomaly on the eastern part of the Solomon Shear trend. Arsenic anomalies are strong indicators for the presence of gold. The highest concentration of gold in these soil anomalies exists in the area north of Smith Creek where soils are much thinner than other parts of the Solomon’s Shear Trend and therefore gold is more readily detectable. Here, Silverado Gold Mines undertook backhoe trenching in 2006 and discovered 16 antimony-quartz veins over a width of 192 feet. The highest gold result was 0.83 ounces gold per ton and the highest antimony assay was 46% (see press releases from January 22, 2007 and January 29, 2007). Silverado Exploration teams will continue with the soil sampling campaign until September.
We will be leaving tomorrow morning at 4 am and will not be back until Saturday. We will be in the Salt Lake City area. Everyone have a great week!
Today gold closed up $8.00 at $660.50 and silver closed up .05 at $12.69.
This morning the US dollar is down slightly against nearly every currency known to man.
'Gold has been a physical asset for 5,700 years. The very tangible nature and high "fondle-factor" that is associated with gold has traditionally made it an investment that people tend to actually hold in coin or bar form.'
— Jon Nadler, Kitco Bullion Dealers
Today gold closed up $4.30 at $652.50 and silver closed up .20 at $12.64. For the week gold is up $5.00 and silver closed up .34.
Newmont Eliminates Gold Hedges, Creating the World's Largest Unhedged Gold Company, and Announces Strategic Initiatives
DENVER, Jul 5, 2007 (Canada NewsWire via COMTEX) -- Newmont Mining Corporation (NYSE: NEM) today announced the elimination of its entire 1.85 million ounce gold hedge position, establishing the Company as the world's largest unhedged gold producer. Newmont also announced plans to monetize components of its royalty and equity portfolio in the next twelve months, resulting in the discontinuation of the Company's Merchant Banking Segment as a separate business unit.
Commenting on the Company's strategic initiatives, newly appointed Chief Executive Officer, Richard O'Brien, said, "With the elimination of our gold hedge book, we have renewed our commitment to maximizing gold price leverage for our shareholders. In addition, we are focused on delivering improvements in our operating performance and cost structure going forward. We intend to realize the value from a significant portion of our non-core, Merchant Banking portfolio and use the proceeds to fund the development and growth of our core gold business."
During June 2007, the Company spent $578 million to eliminate its entire 1.85 million ounce price-capped forward sales contracts. The Company will report a pre-tax loss of approximately $531 million on the early settlement of these contracts, after a $47 million reversal of previously recognized deferred revenue.
In addition, as a result of the Company's decision to discontinue its Merchant Banking Segment and monetize components of its equity and royalty portfolio, the carrying value of the Merchant Banking Segment goodwill was impaired as of June 30, 2007. Consequently, the Company expects to incur a non-cash impairment charge of approximately $1.7 billion, to be recorded as part of discontinued operations, in the second quarter of 2007. The Company has engaged financial and legal advisors to evaluate alternatives to maximize the realized value of the discontinued Merchant Banking portfolio. Potential alternatives include, among others, a public offering and/or private sale transactions.
Commenting on the Company's path forward, Mr. O'Brien said, "These transactions form the foundation of a renewed focus on our core gold business. Looking forward, we intend to maximize gold price leverage for our shareholders, establish a sustainable and reliable production base at competitive operating and capital costs, maintain our financial strength and flexibility, and capitalize on our exploration portfolio and land position."
Currently the euro is up .0092 against the US dollar and the Canadian dollar is up .0135.
Today gold closed down $4.80 at $648.20 and silver closed down .13 at $12.44. For the week gold is up .70 and silver is up .14.
Today gold closed down $3.30 at $653.00 and silver closed down .03 at $12.57.
Kevin, there are a few people on here that believed in that crook and would not listen but that happens to the best of us. I have been posting about his business practices for about four years. What has happened was inevitable.
Today gold closed up $8.80 at $656.30 and silver closed up .30 at $12.60.
Today gold closed down .40 at $647.50 and silver closed down .06 at $12.30. For the week gold is down $6.10 and silver is down .73.
Madison Minerals Inc.: Drill Contract Signed for Lewis Property
VANCOUVER, BRITISH COLUMBIA, Jun 28, 2007 (MARKET WIRE via COMTEX) -- Madison Minerals Inc. (TSX VENTURE: MMR)(OTCBB: MMRSF) is pleased to announce the signing of a drill contract with Major Drilling Ltd to undertake the core drilling component of the US$2.5 million 2007 exploration program planned for its Lewis Property in Nevada. The Lewis Property, located immediately adjacent to Newmont Mining's operating 8-million ounce Phoenix Mine, is being explored by the Phoenix Joint Venture comprised of Madison Minerals Inc. (60%) and Great American Minerals (40%).
The initial stage of the 2007 Lewis Property exploration program will be a detailed Induced Polarization (IP) geophysical survey designed to assist in defining mineralized strike extensions to both the Buena Vista and Virgin Structural Zones. The IP survey will also be focusing on outlining sulphide bearing cross structures as recently identified in drill hole MAD-81:
-------------------------------------------------------------
Hole # From - To (m) Interval (m) Gold (g/t)
-------------------------------------------------------------
MAD-81 85.4-99.1 13.7 9.43
149.4-160.1 10.7 9.21
182.9-228.7(1) 45.7 2.16
-------------------------------------------------------------
(1) MAD-81 ended within the mineralized zone at 228.7 metres.
Presently, an independent review of all previous drilling at the Lewis Property is being undertaken by Lions Gate Geological Consulting Inc. This evaluation will include detailed 3-D computer modeling to assist with future in-fill and step-out drill planning to facilitate a preliminary resource evaluation.
The 2007 25,000-foot reverse circulation and 10,000-foot core drilling programs will begin as soon as drill rigs and crews become available. This program will be a continuation of the combined in-fill and step-out drilling programs which have successfully tested the Virgin Structural Zone along a 1,600-foot strike extent and to 600 feet down-dip. Additional drilling will also be directed at the Buena Vista Structural Zone, a sub-parallel target located 1,500-feet west of the Virgin Structural Zone.
Madison's initial drilling at Buena Vista was conducted during the 2006 exploration campaign and comprised seven widely spaced RC holes along a 1,700-foot strike extent which included previously released results of 5.44 g/t gold over 7.6 metres in hole MAD-64 and 2.82 g/t gold over 10.7 metres in hole MAD-70.
Tsafi, I am a little familiar with them but have never invested in them.
Atotalbum. lol! Apparently it was caused by doing 425 pound short presses. This is what the surgeon thinks.
I know that it can get quite hot. I spent 7 months in the Negev Desert and the trip to Eilat takes in it's entire length.
Country
Anguilla
Antigua & Barbuda
Australia
Bahamas
Bangladesh
Barbados
Bermuda
Bhutan
Bophuthatswana
Botswana
British Virgin Islands
Brunei
Cayman Islands
Channel Islands
Ciskei
Cyprus
Dominica
Falkland Islands
Fiji
Grenada
Guyana
Hong Kong
India
Indonesia
Ireland
Jamaica
Japan
Kenya
Lesotho
Macau
Malawi
Malaysia
Malta
Mauritius
Montserrat
Mozambique
Namibia
Nepal
New Zealand
Pakistan
Papua New Guinea
St. Vincent & Grenadines
Seychelles
Sikkim
Singapore
Solomon Islands
Somalia
South Africa
Sri Lanka
St Kitts & Nevis
St. Helena
St. Lucia
Surinam
Swaziland
Tanzania
Thailand
Tonga
Trinidad & Tobago
Uganda
United Kingdom
US Virgin Islands
Venda
Zambia
Zimbabwe
Wow. I just looked it up. 64 countries drive on the left side.
Israel and the Arabic countries drive on the right side of the road but New Zealand drives on the left. There are only a very few that drive on the left side.
Can you fly to Eilat or do you have to drive across the entire length of the Negev Desert?
Yup. I will pay more attention to the next 10Q than anything else.
Today gold closed up $6.10 at $647.90 and silver closed up .17 at $12.36. For the week gold is down $5.70 and silver is down .67
I still plan to wait until the next 10Q comes out then I will make a decision. The 10Q should be out during the third week of August.
Steve and Kevin. The meeting has been postponed until later next week.
Steve, I am right handed. When I was very young it was not acceptable by some to be left handed. My mother was one of them. When I was eating she would hit my left hand with a spoon and make me eat with mt right.
Steve, sorry about the disappearance. I had my left arm operated on and am now just getting back. LOL! You should see me trying to type with one hand. I am trying to confirm tomorrow's meeting with BC now. Will post it here as soon as I know.
Kevin, Pink Sheet stocks are not required to announce a reverse split but I believe the the rest of the exchanges do.
Today gold closed down $9.00 at $642.20 and silver closed down .59 at $12.24.