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Nope. I will do that on certain stocks from time to time but not with GPXM or MMRSF.
Kevin, I am watching very carefully and am watching the outstanding shares. I am going to wait until the next 10Q and make a decision. The company's quarter ended on 3-31-07 and they were just starting to ship molybdenum. I believe that the next 10Q will be much better. If not I will probably get out. I am a bad one to ask about GPXM because I can wait without too much concern as I am in at .12.
Today gold closed down $3.80 at $658.80 and silver closed down .14 at$12.89. The Canadian Dollar is now at .9205.
Today gold closed up $2.00 at $662.60 and silver closed up .14 at $13.03.
A lot of unexplained things happening this week. The US dollar gained slightly against the euro so why did the Canadian dollar do so well by going from .8981 to .9176 this week against the US dollar.�
Today gold closed up $4.50 at $660.60 and silver closed up .13 at $12.89. For the week gold is down $9.50 and silver is down .31.
Kevin, this is the news which should be considered very good for both companies.
Buffalo and Madison Move Forward Aggressively at Mt. Kare
VANCOUVER, BRITISH COLUMBIA, May 18, 2007 (MARKET WIRE via COMTEX) -- Buffalo Gold Ltd. (TSX VENTURE: BUF.U)(OTCBB: BYBUF)(FRANKFURT: B4K) and Madison Minerals Inc. (TSX VENTURE: MMR)(OTCBB: MMRSF) are pleased to announce that they have amended the terms of the earn-in to the Mt. Kare Gold Project. Under the amended agreement, Buffalo vests a 60% interest in the project immediately and will focus ongoing work on exploring for new resources throughout the property.
To date, Buffalo has focused the majority of its work at Mt. Kare on infill drilling of the known zones of mineralization predominantly at the Western Roscoelite Zone in order to complete a Type 2 Preliminary Economic Feasibility Study previously specified to earn a 49% interest in the project, per the original agreement with Madison. While that work increased the understanding and confidence in the mineralization in those zones, the other exploration work that has been completed on the property has led Buffalo to believe that there is potential for significant additional mineralization outside of the known zones. The Buffalo-Madison Joint Venture Management Committee has recommended to the companies that the preliminary Feasibility Study should be deferred until detailed exploration work is conducted on the many targets throughout the property and the full extent of possible resources understood.
As such, Buffalo and Madison have agreed to new earn-in terms for the Mt. Kare project. Buffalo will immediately earn a 60% interest in Madison's interest in the Mt. Kare property by issuing $500,000 in cash or shares and issuing an additional 3,000,000 Buffalo shares to Madison, with these shares subject to a four-month hold period. Buffalo will earn a further 15% interest, totalling 75%, by completing a Bankable Feasibility Study covering all areas with significant potential within four years, with a provision for an additional 1-year extension. Should Buffalo acquire a 75% interest, Buffalo retains the right to acquire the balance of Madison's interest, based on an independent valuation of Madison's remaining interest, for cash or shares of Buffalo or a combination of both. The new terms are subject to approval by the TSX Venture Exchange.
"Buffalo's management is extremely pleased that we now have a majority interest in the Mt. Kare project. We have been very happy with the results of the infill drilling, but we believe that the property has much more to offer in exploration potential," commented Buffalo Chairman and CEO, Damien Reynolds. "We continue to expand our holdings in the project based on geological and geophysical evidence of significant gold targets and we are looking forward to stepping up exploration to expand the project resources."
"Madison is impressed with the efforts and the progress achieved by Buffalo," stated Chet Idziszek, CEO of Madison, "And we believe extending the timeframe for a bankable feasibility study allows for the systematic examination of the multiple additional mineral targets known to exist, and of others perhaps yet to be found."
Today gold closed down $4.00 at $656.10 and silver closed down .07 at $12.76.
Today gold closed down $12.60 at $660.10 and silver closed down .36 at $12.83.
GA, Great! Glad that you got in today. It does look like there was no reason for the drop and the turnaround has started to take place.
I have never seen a dividend have an adverse affect on a good stock. In this case I'm not sure. That dividend money could be used for further exploration. The company is in solid financial condition but I don't believe a cash dividend is warranted.
Today gold closed up $4.20 at $672.70 and silver closed up .06 at $13.19.
GrandAnalyst, I am familiar with Vista Gold and believe that they will do very well in the PM bull market. I like the low outstanding shares and the strong balance sheet. The company is nearly debt free. The company had a net loss last quarter of $776,000 but that is typical with exploration companies.
I could see no reason for the more than 30% drop in the stock price in the past few days. It certainly looks over sold to me.
Tsafi, the only one that I know that sold any stock was Kenneth Ripley and I believe that he needed the money. I believe that he sold somewhere between 125,000 and 200,000 shares.
Kevin, it looks like GPXM is on the way and the variable production at the moment should not be a problem. The company is moving forward to full production in the near future. GPXM still looks like a very good medium term hold.
Today gold closed down $1.60 at $668.50 and silver closed down .07 at $13.13. The gold silver ratio is now 50.9.
Today gold closed up $5.10 at $670.10 and silver closed up .19 at $13.20. For the week gold is down $16.80 and silver is down.22.
Just one of the reasons that I believe that Goldcorp is extremely well managed.
Friday, May 11, 2007
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Goldcorp Q1 earnings increase 32% to US$124.9M as sales double to $418.9M
VANCOUVER (CP) - Goldcorp Inc. (TSX:G) has reported a 32 per cent rise in first-quarter profit as revenue rose 77 per cent over a year ago thanks largely to last November's acquisition of Glamis Gold.
Goldcorp, which reports in U.S. dollars, said January-March revenue was $505.6 million, up from $286.3 million a year earlier but off from $513.3 million in the final three months of 2006.
Production was 558,000 ounces, up from 295,100 a year earlier. Total cash costs were $181 per ounce, up from minus $88 an ounce a year ago including copper and silver byproducts.
Net income of $124.9 million or 18 cents per share, compared with $92.4 million or 27 cents per share in the first quarter of 2006.
"Solid mine performance in the first quarter has laid the groundwork for a good year," stated CEO Kevin McArthur.
"Our cornerstone Red Lake mine in Canada is off to a strong start, and production at Marlin mine in Guatemala continues to gain momentum. Another cornerstone asset, the Penasquito project in Mexico, remains on track."
McArthur added that Goldcorp's production is scheduled to ramp up through 2007, totalling 2.5 million ounces for the year, "and we continue to expect our total cash cost to be approximately $150 per gold ounce."
Absolutely Kevin. But it does appear that the ability for the Central Banks to continue is diminishing.
Kevin, it certainly looks like it. This is still part of the current manipulation. I said a week before it started that I expected silver to drop to the $11.75 to $11.85 level before it started back up. When I look at past manipulations that is about the amount (percentage) that the Central Banks took it down before.
Today gold closed down $15.10 at $665.00 and silver closed down .34 at $13.01.
Thursday, 03 May 2007
When assessing the outlook for the economy, Mary Anne and Pamela Aden note, “The bottom line is that a tug of war is going on with inflation and recession pressures both pulling on the markets.”
“Investors need to be prepared for anything,” they note in The Aden Forecast. One sector they believe remains firmly in a long term bull market is gold, which they believe could remain strong for years come.
“Amazingly, the amount of mortgage debt created in the past six years has been equal to the mortgage debt created the last 50 years. There’s also concern the housing squeeze will mean less consumer spending and, therefore, a recession.
“One thing is fairly certain… with housing on thin ice and a recession or slowdown more of a possibility, interest rates are not going higher and that’s why we’re recommending bonds again. But inflation is moving up too. Producer prices have risen nearly 10% annualized over the past four months.
“As you know, inflation is bad for bonds but it’s good for gold. So these conflicting signs could mean future stagflation, which is a combination of a weak economy along with inflation.
“In previous booms, one market would usually move up while another declined. But since 2003, the markets have all been rising and that’s unusual. The main reason why is because of massive global liquidity.
“Overall and most important, you want to stay invested with the major trends in the strongest markets. That still means gold, silver, and the stronger gold, silver, and resource shares. These markets have been stronger than stocks or bonds over the years and that continues to be the case.
“Other positive signs that reinforce a powerful bull market are when gold is strong in all currencies, and when all of the precious metals are rising in major uptrends. This is happening today.
“We often discuss the reasons why gold will stay on track to rise in the years, and more likely decades ahead. Aside from growing global monetary inflation, price inflation, out of sight deficits and debt and the war, we also have a growing shortage.
“In fact, there’s currently a shortage in many commodities. Gold production is down around the world. South African gold production, for instance, fell to its lowest level in 84 years last year.
“For now, keep an eye on the February highs near $690. Above that level, then $722 will become an easy target. Gold would be impressive above this level as it would confirm a very strong bull market. The downside is just as important to watch because if $639 is broken, gold’s current rise will be over.
“Silver looks good in spite of its recent set back. Its major trend remains solidly up above $12.00, it’s holding near the highs and silver is still stronger than gold. We continue to recommend keeping a balance between gold, silver, their shares.
“Keep more in silver and gold itself or their ETFs. In particular, for gold we recommend streetTRACKS Gold (NYSE: GLD) and iShares Comex Gold (ASE: IAU). For silver, we recommend iShares Silver Trust (ASE: SLV).
Several GPXM trades at .515 this morning.
Today gold closed down $2.50 at $685.00 and silver closed down .05 at $13.44.
Gold producers Goldcorp Inc (Toronto:G.TO) (NYSE:GG) announced on 7 May its fifth monthly dividend of USD0.015 per share for 2007.
The dividend will be payable to shareholders of record at the close of business on 18 May 2007 on 25 May 2007.
Utcheevis, thanks for a great laugh. :)
I hope that you got out with a nice profit near the top. Up 700% in less than a week should be enough. :)
Today gold closed up $5.10 at $686.90 and silver closed up .03 at $13.42. For the week gold is up $8.00 and silver is down .01.
I agree Tsafi. It seems as thought here are more gray stocks around now than there used to be.
Bobby, you would also get out today with a nice profit. This stock is being pumped by organizations that are paid to do so. The Pink Sheets will not quote this stock.
Currently platinum is up $25.00 at $1,331.
Gold rises, as dollar declines after job growth data
By Polya Lesova, MarketWatch
Last Update: 9:12 AM ET May 4, 2007
NEW YORK (MarketWatch) -- Gold futures rose Friday, extending their prior-session gains, as the dollar fell against major currencies after Labor Department data for April showed the smallest increase in payroll employment since November 2004.
Gold for June delivery gained $2.20 to $686.60 an ounce on the New York Mercantile Exchange. On Thursday, gold futures closed up $9.30 at $684.40 an ounce.
"Look for continued strength as the day wears on, but keep a keen eye on next week as all market participants will be back in full force and as the Fed watching gets underway," said Jon Nadler, analyst at Kitco Bullion Dealers. "A test, if it comes, of the $695 area may succeed this time around."
Other metals prices were also mostly higher. July silver added 1.5 cents to $13.525 an ounce, July platinum rose $1.70 to $1,312.50 an ounce and July copper was up 0.6 cent to $3.7330 a pound. June palladium fell 25 cents to $376.25 an ounce.
The dollar edged lower after the Labor Department said that nonfarm payrolls expanded by 88,000 in April, lower than the 100,000 expected by economists surveyed by MarketWatch. See full story.
The euro was last up 0.2% at $1.3571, while the dollar was down 0.2% at 120.25 yen. See Currencies.
Crude-futures extended their recent losses early Friday with the June contract heading back toward $63 a barrel with traders still focused on rising crude supplies and news that the government will hold off on buying oil for its Strategic Petroleum Reserve until later in the year.
Crude for June delivery was down 11 cents at $63.08 a barrel in electronic trade. See Futures Movers.
On the supply side, gold warehouse inventories rose by 268,962 troy ounces to stand at 7.9 million troy ounces as of late Wednesday, according to Nymex data. Silver supplies fell by 1,040 troy ounces to stand at 131.3 million troy ounces as of late Thursday, while copper supplies fell by 68 short tons to 33,003 short tons.
AngloGold headline earnings rocket
04 May 2007
In what is traditionally a challenging quarter for South African gold companies, we have delivered results close to our market guidance
South African miner AngloGold Ashanti (ANG) reported adjusted headline earnings of US$97m in the quarter ended March compared with $46m in the previous quarter, which was affected by once-off accounting adjustments.
Adjusted headline earnings per share amounted to 249 cents - or 34 US cents - compared with 124 cents, or 17 US cents in the December quarter.
Operational performance saw production down 10% to 1.33Moz compared with the prior quarter, primarily as a result of the year-end break and associated fewer production shifts in South Africa and Mali during the first quarter, the group said.
Total cash costs for the company were 7% higher at $332/oz and were also affected by a reduction in by-product revenue from uranium in South Africa and to a lesser extent, sulphuric acid in Brazil.
The company continued to deliver into maturing hedge contracts, reducing the hedge delta by 570,000 ounces to 9.59Moz, despite a spot price that was $27/oz higher at the close of the quarter. The price received increased 4% to $602/oz, or 7% below the average spot price, it said.
Today gold closed up $9.20 at $681.80 and silver closed up .16 at $13.39.
I agree Kevin. It looks like the Central Banks may be weakening a bit but we will see. Barrick just spent 100's of millions getting out of their hedges. Maybe the paper players are getting ready to accept the inevitable.
"Barrick reported a net loss of $159 million (U.S.) in the first quarter – its first quarterly loss in five years – after taking a hit of $557 million to unwind its hedge book.
Barrick is now free to sell all production from its 27 mines at spot prices. Gold fell by $2.10 to close at $672.30 yesterday in New York".
Today gold closed down $1.20 at $672.60 and silver closed up .02 at $13.23. For two days gold is down $6.30 and silver is down .20.
Very possible. I never short stocks so I don't think of that aspect very often.
I agree but thought that it might have something to do with a pump that I am not seeing.
Tsafi, maybe it has something to do with the assets of a clothing store that they purchased recently.