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Silverado Gold Mines Ltd. - Big gold nugget found in underground mining work - A 13.78 troy ounce gold nugget found in Mary's East Tunnel - Many other gold nuggets
A 13.78 troy ounce gold nugget has been found in the Mary's East underground workings during sampling and grade control work.
You could be right Tsafi although the new gold discoveries could keep it going for a while. This is still a hard management to trust.
Apolo Signs L.O.I. for Nevada Mining Projects
VANCOUVER, BC, Feb 26, 2007 (MARKET WIRE via COMTEX) -- Apolo Gold & Energy Inc. (OTCBB: APLL) has executed a Letter of Intent with Great American Minerals, Inc. (GAM) of Salt Lake City Utah, for the acquisition of all of the outstanding shares of GAM in return for a yet to be determined number of restricted shares of common stock of Apolo. GAM is a private company located in Salt Lake City, Utah and the holder of numerous mining claims primarily in Nevada.
The number of restricted shares to be issued by Apolo, which would be delivered upon the closing of the Definitive Agreement, will be determined by mutual consent of the parties only after an independent value has been determined for the assets of GAM being acquired by Apolo. Both parties will use their best efforts to execute a Definitive Agreement by April 20, 2007, and close by June 20, 2007.
As a condition of execution of the Definitive Agreement, the most significant GAM properties shall be evaluated at Apolo's cost for geological and economic value by a qualified independent third party prior to a final determination of the number of Apolo shares to be issued to GAM shareholders.
GAM currently owns over 900 unpatented mining claims, and has Joint Ventures with Madison Minerals Ltd and Platte River Gold. There are 6 prominent properties located in Nevada and include a diverse asset base of properties hosting gold and silver, to strategic metal mineral resources such as vanadium and copper. The properties range from advanced exploration/development drilling projects to promising exploration targets. All properties are located in the prolific Battle Mountain - Eureka Trend in Nevada, also known as the Cortez Trend.
Through a Joint Venture with Madison Minerals, Inc., GAM and Madison have acquired control of claims and patents for over 5,500 acres on the Battle Mountain - Eureka Trend in Nevada. GAM has a 40% interest in the joint venture which has the option of acquiring the property. This Joint Venture known as the Phoenix Joint Venture is strategically located directly north of and contiguous with Newmont Mining Corp.'s Phoenix/Fortitude Mine Development complex which is reported to host significant mineable reserves of gold.
Other projects owned by GAM include the Treasure Hill Project, located in White Pine County between Ely and Eureka, Nevada; Black Kettle Vanadium Project located 8 miles south of Carlin in Elko County, Nevada; Modoc Project, located 3 miles from Newmont's Phoenix-Fortitude property and directly adjacent to the Phoenix JV Property; UNR Project, located in the Eureka Mining District; and the Platte River JV Project.
GAM also owns claims in the High Grade District in the Warner Mountains, approximately 30 miles northeast of Alturas in Modoc County, in the northeast corner of California. This is a gold occurrence that has had very little exploration to date.
Regarding the Treasure Hill Project, current drilling data indicates significant silver bearing mineralization of high grade material. Additional drilling will be required on this property to determine its potential.
Prior to the closing of the Definitive Agreement, GAM will provide evidence of a firm commitment of financing in the amount of $8,000,000. A portion of these funds would be allocated to the retirement of debentures currently outstanding in GAM. The balance will provide sufficient financing to retire all outstanding obligations of both Apolo and GAM, and provide working capital of almost $4,000,000 for work program commitments and general working capital. As a further condition to closing, the parties have agreed to the election of a revised board of directors.
Apolo also advises that it has signed an Agreement with Atna Resources Ltd wherein Apolo will execute a quit claim and return its rights regarding the Beowawe property in Nevada to Atna Resources Ltd. As a condition of this Agreement, Apolo has agreed to reimburse Atna $113,520 of expenditures made on its behalf and to issue to Atna 2,200,000 restricted common shares in lieu of unfulfilled work commitments for the past year. Upon settlement of the foregoing, Apolo will be released from further obligations regarding the Beowawe property.
The Company is awaiting a geological consultants report on its NUP property in Sumatra, Indonesia prior to determining its continuing program for 2007.
SLGLF has been on a steady rise from .07 six weeks ago to the current .135. It has been a very good short term play but I do not trust it for the long term.
2006 Gold Demand Record $65.3 Billion
(February 22, '07, 3:32 Edahn Golan)
Record high gold prices during the year drove 2006 demand for gold to a record of $65.3 billion. However, the high price also caused a drop in purchases of gold in terms of weight by central banks. At $44 billion, gold jewelry sales also set a record high.
In 2006 jewelry demand rose 14%
in value, but fell 16% in weight
Despite a fall in production and reduced supply, industrial demand was the highest ever at 458 tons, according to figures released by the World Gold Council. Supply fell 13 percent by weight.
Jewelry demand rose 14 percent in dollar terms in 2006 as a whole, but fell 16 percent in weight due to a volatile gold price in the first half of the year. Demand for investment gold increased 7 percent over 2005 to 637 tons and 45 percent in value.
The WGC reported that 2007 has begun with brisk demand in most jewelry markets in January, while investor interest has also remained positive. Market research findings show that sentiment towards gold jewelry in key markets remains strong. Prospects for both jewelry and investment demand in the first half of the year are good, WDC predicts, although any return of excessive price volatility could hinder jewelry purchases.
Silver is up .11 in the far east.
Bemilio, It appears to be a very well run company. Small but in very good financial condition.
That share count was as of 11-14-06 and should not have changed much given the strong financial condition of the company.
Friday gold and silver closed up for the seventh week in a row which is unprecedented in the last few years. Gold closed up $3.70 at $682.90 and silver closed up .27 at $14.49. This is the highest Friday close for silver in over a decade. For the week gold is up $14.40 and silver is up .54.
Today gold closed down .30 at $679.20 and silver closed down .04 at $14.22.
I am always skeptical when it comes to the Central Banks and the paper players. If gold and silver close up this week it will be the seventh straight week. The banks want the contracts covered and the paper players are scrambling to cover them but there are still hundreds of millions in short contracts. If recent history means anything there will be a correction by next week. This is one of the longest consecutive weekly raises in precious metals in recent history. If the Central Banks and funds do not take action this will cause a more aggressive rise in the PM prices as the shorts scramble to cover.
Today gold closed up $22.00 at $679.50 and silver closed up .45 at 14.26.
Right Steve. There is a video tape just out which shows some fantastic nuggets that have been recently found.
Gold and silver started upward right after the news came out. Gold is currently up $17.70 today and silver is up .28
REUTERS CORRECTED-(OFFICIAL)-NYMEX silver volume sets record on Globex [GTHPMQP]
NEW YORK, Feb 21 (Reuters) - NYMEX Holdings Inc.'s
New York Mercantile Exchange said on Wednesday it set a daily
volume record for silver futures contracts on the CME Globex
electronic trading platform on Tuesday.
COMEX silver futures volume reached 24,959 contracts,
surpassing the previous high of 18,608 contracts traded on Feb.
2.
The NYMEX also said that COMEX miNY gold futures traded a
record 297 contracts, exceeding the 217 contracts traded on
Feb. 9.
The NYMEX migrated COMEX electronic trading in gold,
silver, copper and aluminum futures contracts to the Chicago
Mercantile Exchange Globex platform on Dec. 3, retiring
the outdated NYMEX ACCESS electronic trade system.
Good morning Universal trader. That is right. There is over $100.00 change for every one cent change in silver.
During the past two days gold closed down $11.00 at $657.50 and silver closed down .14 at $13.81. The gold/silver ratio is now 47.61.
Eugi, that is not an opinion it is fact that can be verified by looking at the last filing.
Eugi, you started in on me on another board. I will only ask you once not to do it here. Madison has a very strong balance sheet and no debt. You have absolutely no basis for your statement.
Tsafi, the 20F should be filed by MMRSF by the end of this month.
MMRSF, Madison. Very volatile but a great long term exploration stock.
Today gold closed up $1.90 at $668.50 and silver closed up .05 at $13.95. For the week gold is up $1.80 and silver is up .12. This is the sixth straight week that gold and silver has risen. The gold/silver ratio is now 47.92.
Today gold closed down .60 at $666.60 and silver closed unchanged at $13.90. So far for the week gold is down .10 and silver is up .07.
Today gold closed up $4.00 at $667.20 and silver closed up .05 at $13.90. Earlier in the session gold had reached $672.80 and silver $14.17.
That's a great turnaround but the company still had a net loss of $156,433. It looks like a great short term for tomorrow. Any long term investor needs to keep an eye on the O/S. 300 million authorized and 235 million outstanding. Good luck tomorrow.
Today gold closed up $1.00 at $663.20 and silver closed up .21 at $13.85.
Bobby, an sc 13G is a form that is used to show a 5% or more of beneficial ownership of a stock.
Tsafi, About a month ago China unveiled a plan to build 100 new cities of 1,000,000 people each. This will make investment in China even more meaningful. This is another reason to have part of any portfolio in hard money assets, silver. Silver is used in every household, ie: all appliances, wall switches, TV's, fuses and conductors of all kinds. All businesses that I can think of also use silver in many applications. This and short supply is why silver is by far my largest single investment.
Universal trader, I have mentioned before that day or short term traders should not pay much attention to my rants. I am a long term trader and have a real problem with CEO's that live off of the investors. I know that a lot of money can be made on that type of stock and to listen to me on a short term trade would be pure folly.
I had someone ask me how many pounds of silver I had. I took the ounces and figured out the pounds which came to over 800 pounds. Not enough to build many steps. LOL
I am not looking at any picks at the moment. I found out a few minutes ago that I have gall stones which is combined with an infection in my left leg and an intestinal infection. I will only be on from time to time. My long term favorites are still Silver bullion, MMRSF and SHSH.
Eugi, Altomare seems to have no conscience at all. He will have to initiate a reverse split in the near future or raise the authorized which is already nearly 13,000,000,000 shares. Where is the $700,000,000 in court awards that he talks about. I remember another company that had hundreds of millions in court awards but never received a dime in 7 years. The company continues to lose tens of millions but he does not tell anyone how he plans to cover those losses. The losses keep getting worse. There were 12 releases put out today on USXP and the stock went down over 20%. It appears to me that the investors have finally gotten wise to the Altomare fluff.
This does not make sense. From 60 cents to 90 cents on one trade and then from .87 to .57 on one trade. This takes place nearly every day and usually several times a day. The following is only a few of todays trades.
9:37:30 AM Bid 0.57 2500
9:36:06 AM Ask 0.87 10000
9:36:00 AM Ask 0.87 8000
9:35:58 AM Ask 0.87 4500
9:35:40 AM Ask 0.88 2500
9:34:38 AM Ask 0.87 10000
9:34:36 AM Ask 0.88 2500
9:32:42 AM Ask 0.89 10000
9:30:42 AM Ask 0.89 5000
9:30:42 AM Bid 0.55 9500
9:30:16 AM Trade 0.55 200
9:30:16 AM Trade 0.54 1800
8:10:48 AM Ask 0.9 2500
7:34:10 AM Ask 0.6
Gold and silver closing weekly prices:
1-5-07---gold $605.10---silver $12.12
1-12-07--gold $625.40---silver $12.78
1-19-07--gold $635.40---silver $12.81
1-26-07--gold $644.60---silver $13.26
2-2-07---gold $645.70---silver $13.29
2-9-07---gold $666.70---silver $13.83
During the PM bull market there has been about 3 1/2 weeks that gain for every week that PM prices fall. This would indicate that we are over due for a down week.
On 1-5-07 the gold/silver ratio was 49.93. On 2-9-07 the ratio was 48.21.
Boomer, I remember giving SCLL a thumbs down about a month ago when it was 20 or 21 cents. Today the company set a new 52 week low and I don't see much of a bounce here. SCLL is still in bad current condition and the losses continue to grow rapidly to nearly 1 1/2 million last quarter. The company has over a billion O/S and must continue to issue shares to survive. I wish you the best but I don't see it here. Hopefully something good will happen.