Timberline Resources Corp. [OTC-BB: TBLC] Upside Through Discovery • Record Revenues - Drilling Services

The Markets:

Charts Courtesy of http://finance.yahoo.com/

Oil fell after the Saudi Arabian oil minister indicated there will be no further production cuts at OPEC’s next meeting as he called the oil market in “much, much better health and balance.”  Mild weather forecasts and easing worries over Iran also had traders selling.

The U.S. dollar index rose as the G7 meeting did not address weakness in the yen as some had hoped for, but gains were somewhat limited as traders looked ahead to a plethora of economic data later in the week and fed chairman Ben Bernanke's testimony before the Senate Banking Committee on Wednesday and the House Financial Services Committee on Thursday.

Treasuries continued Friday’s fall on speculation Bernanke will talk tough on inflation before congress and push interest rates higher.

The Dow, Nasdaq, and S&P fell on disappointments over acquisitions as traders took caution ahead of a busy economic week.

Among the big names making news in the market today were Four Seasons, Home Depot, Thomas Cook and MyTravel, LSE and Nasdaq, Vodafone and Hutch Essar, Merrill Lynch, GE, HP, Lilly, MFS, Deutsche Bank, REIT, Blackstone, Ford, Occidental, and Pulte.

The Commentary:

“April Gold finished down 5 at 667.3, 4 off the high and 3 up from the low.

March Silver closed down 0.2 at 13.715. This was 0.2 up from the low and 0.165 off the high.

The gold market mostly finished moderately lower on the day but enough above the lows of the session to partially discount the steep slide in oil prices. In fact, with crude oil prices at times $2.60 per barrel lower the gold bulls might have been fortunate to have avoided a real drubbing. With the recent overly long COT report positioning, the slide in the energy complex and the rally in the Dollar conditions were so bearish that the bears might even be a little disappointed in the action. As suggested in the mid day coverage, news of a possible terrorist incident in Japan also failed to support gold prices and that would seem to leave the market with some form of underlying support. With the US economic report slate thin again on Tuesday, the gold market will probably continue to be heavily influenced by the ebb and flow of oil prices.

The silver market finished moderately lower but did manage to reject a test of the critical $13.51 level. With the Press late on Monday trumpet the potentially overextended spec long positioning in silver from the COT report, one has to be watchful of the potential for stop loss selling activity. With the copper market failing to hold at critical support and the US equity market also giving off the impression of macro economic slowing, it is likely that the silver market is under the influence of physical commodity and fund related selling pressure.” - The Hightower Report, Futures Analysis and Forecasting

GATA Posts:

Ted Butler: Time frames

James Turk: Gold pulling away from $600

Gene Arensberg's 'Got Gold Report' at Resource Investor

Bloomberg columnist may not know as much about gold as he thinks

MorganChase executive considered for Treasury's international job

Qatar will keep riyal's peg to dollar

G7 asks finance ministers to talk with hedge fund managers

Markets can handle hedge funds by themselves, treasury secretary tells G7

How to profit most from $1,000 gold: juniors and self-publicists

G-7 presses China on yuan flexibility, wants hedge funds watched

South African president pledges to hasten land redistribution

Fed Reserve's Bies, policy centrist, to step down March 30

Miners are dangerous foes for Bolivia's president

Doug Hornig: About those IMF gold sales

The Statistics:

As of close of business: 2/9/2007

Global Gold ETF Holdings

[WGC Sponsored ETF’s]

Note: Change in Total Tonnes from yesterday’s data: The NYSE subtracted 0.13 tonnes and the ASX added 0.15 tonnes.

COMEX Gold Trust (IAU)

Note: No change in Total Tonnes from yesterday’s data.

Silver Trust (SLV)

Note: No change in Total Tonnes from yesterday’s data.

The Stocks:

U.S. Gold’s (UXG) commenced tender offers, Newmont’s (NEM) chairman, International Royalty’s (ROY) bought-deal financing, IAMGOLD’s (IAG) Rosebel work stoppage update, Almaden’s (AAU) drill results, Solitario’s (XPL) drill results, Fortuna’s (FVI.V) and Continuum’s (CNU.V) optioned mining concessions, and Silver Dragon’s (SDRG.OB) assay results were among the big stories in the gold and silver mining industry making headlines today.

WINNERS

LOSERS

Winners & Losers tracks NYSE and AMEX listed gold and silver mining stocks that trade over $1.

All of today's gold and silver stock news:

Aurus Obtains Advantageous Financial Package - More
- February 12, 2007 | Item | E-mail

Newmont Announces Seymour Schulich to Continue as Chairman of Newmont Capital but Will Not Stand for Re-Election to Newmont Board - "Newmont Mining Corporation (NYSE: NEM - News) today announced that Mr. Seymour Schulich will remain as Chairman of Newmont Capital Limited (a Newmont subsidiary) and will continue to serve as a consultant to the Company, but will not stand for re-election to the Newmont Board of Directors at the Company's Annual Meeting of Stockholders in April 2007. Mr. Schulich was the Chairman and Co-Chief Executive Officer of Franco-Nevada Mining Corporation Limited, which was acquired by Newmont in 2002 in connection with the three-way merger of Newmont, Franco-Nevada and Normandy Mining Corporation." More
- February 12, 2007 | Item | E-mail

International Royalty completes fully subscribed bought-deal financing - "International Royalty Corporation ("IRC") (TSX:IRC, AMEX: ROY) is pleased to announce that it has closed its offering of 7,408,000 units (the "Units") of IRC at a price of $5.40 per unit for total gross proceeds of Cdn.$40,003,200 (the "Offering"). Each Unit is composed of one common share (each, a "Common Share") of IRC and one-half of one common share purchase warrant of IRC, with each whole common share purchase warrant entitling the holder thereof to acquire a further Common Share at an exercise price of $6.50 per share until November 12, 2007, and at $7.00 per share from November 13, 2007 until August 12, 2008." More
- February 12, 2007 | Item | E-mail

IAMGOLD Corporation: Update on Work Stoppage at Rosebel - "IAMGOLD Corporation ("IAMGOLD" or "the Company") (Toronto:IMG.TO - News)(NYSE:IAG - News)(ASX:IGD.AX - News)(Boston:IAMGOLD - News) has announced today that effort continues to resolve the current work stoppage at Rosebel Gold Mine in Suriname. An offer was made to employees last week, that includes a substantial wage increase, increased vacation and benefits, and a lump sum payment to employees to reward the good work thus far on the project. The offer resulted from consultations and meetings between the Union, the Mediation Board, and Rosebel Management." More
- February 12, 2007 | Item | E-mail

Bellhaven Signs Definitive US$4.0 Million/5 Yr. JV Agreement with Western Troy Capital Resources for 70% Stake in Its Viento Frio Concession - More
- February 12, 2007 | Item | E-mail

Almaden Minerals Ltd.: 2006 Results From the Skoonka Creek Project, B.C. - "Almaden Minerals' partner Strongbow Exploration Ltd. has reported extremely encouraging results from their 2006 exploration program on the Skoonka Creek Project. Strongbow's 18 hole 4,545 m drill program on the JJ Showing confirmed the presence of well developed gold bearing quartz veins at depth. Highlights from the program include 16.3 g/t over 0.23 meters and 17.0 g/t gold over 0.5 meters." More
- February 12, 2007 | Item | E-mail

American Creek enters into further earn-in agreement on the Tide Project - More
- February 12, 2007 | Item | E-mail

Rochester Closes $2.22 Million Private Placement - More
- February 12, 2007 | Item | E-mail