Magellan Minerals Ltd. (TSX-V: MNM) is a well-financed, Canadian-based junior exploration company focused on mineral exploration and development in the state of Para in northern Brazil. The Company has interests in a number of properties in the Tapajos region which has a historic gold production estimated at 20-30Moz of gold. The Company has two advanced gold projects, Cuiu Cuiu and Coringa, a 1.7Moz gold resource, and is currently drilling with six rigs. More
The Metals:
Gold fell $14.65 to $1749.25 by about 11AM EST before it bounced back higher into the close, but it still ended with a loss of 0.47%.Silver dropped down to $33.793 before it also bounced back higher into the close, but it still ended with a loss of 1.13%.
Euro gold fell to about €1275, platinum lost $7.25 to $1628.50, and copper fell a couple of cents to about $3.57.
Gold and silver equities fell about 3% in the first hour of trade, but they then rallied back higher for most of the rest of trade and ended with less than 1% losses.
Next week’s economic highlights include Consumer Credit on Monday, Wholesale Inventories on Wednesday, Initial Jobless Claims, Import and Export Prices, the Trade Balance, and the Treasury Budget on Thursday, and Michigan Sentiment on Friday.
New York Stock Exchange Arca (NYSE Arca) AND Singapore Exchange (SGX) AND Tokyo Stock Exchange (TSE) AND Hong Kong Stock Exchange (HKEx)
SPDR® Gold Shares
1243.551
39,981,398
US$69,901m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra)
Gold Bullion Securities
115.35
3,708,632
US$6,503m
London Stock Exchange (LSE) AND NYSE Euronext Paris AND Borsa Italiana AND Frankfurter Wertpapierbörse (Deutsche Börse - Xetra) AND NYSE Euronext Amsterdam
ETFS Physical Gold
126.23
4,058,350
US$7,133m
Australian Stock Exchange (ASX)
Gold Bullion Securities
14.21
473,345
US$802m
Johannesburg Securities Exchange (JSE)
New Gold Debentures
42.47
1,365,480
US$2,380m
NASDAQ Dubai
Dubai Gold Securities
0.154
4,946
US$9m
Note: No change in Total Tonnes from yesterday’s data.
COMEX Gold Trust (IAU) Total Tonnes in Trust: 165.36: No change from yesterday’s data.
Silver Trust (SLV) Total Tonnes in Trust: 9,770.09: -6.05 change from yesterday’s data.
Entree Gold’s (EGI) third quarter results, New Gold’s (NGD) third quarter results, and Timberline’s (TLR) new director were among the big stories in the gold and silver mining industry making headlines Friday.
WINNERS
1.Extorre
XG +4.63% $8.36
2.Minefinders
MFN+3.77% $15.70
3.Ivanhoe
IVN +3.37% $22.38
LOSERS
1.Golden Minerals
AUMN -4.77% $8.39
2.Minco Gold
MGH -3.67% $1.05
3.Banro
BAA -3.66% $4.22
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:
Source Announces Grant of Options - More - November 04, 2011 | Item | ShareThis
Tiex Inc. - Exploration Update on its Quesnel Trough Properties, central British Columbia, Canada - More - November 04, 2011 | Item | ShareThis
CaNickel Announces Third Quarter 2011 Financial Results - More - November 04, 2011 | Item | ShareThis
MBMI Announces Resignation of Director - More - November 04, 2011 | Item | ShareThis
Arianne Resources Acquires Pourvoirie du Lac-Paul - More - November 04, 2011 | Item | ShareThis
Rare Earth Metals Extends 2 Million $0.60 Warrants to November 2012 - More - November 04, 2011 | Item | ShareThis
Entree Gold Announces Third Quarter 2011 Results - "During the three months ended September 30, 2011, the Company incurred a net loss of US$3,506,238 ($0.03 per share) compared to a net loss of US$6,547,970 ($0.06 per share) in the three months ended September 30, 2010. The decrease in net loss is primarily due to the combination of decreased mineral exploration activities in Mongolia as the Company continues to focus on its Yerington copper porphyry projects, the gain on sale of its asset backed commercial paper and a deferred income tax recovery. As at September 30, 2011, the Company had working capital of US$10,321,520, including cash of US$10,477,360." More - November 04, 2011 | Item | ShareThis
Northquest Ltd. Announces Investor Relations Manager & Grant of Stock Options - More - November 04, 2011 | Item | ShareThis
Ivernia to Announce 2011 Third Quarter Earnings and Host Conference Call - More - November 04, 2011 | Item | ShareThis
Commander's Partner Receives Encouraging Hammerdown Report - More - November 04, 2011 | Item | ShareThis
Maritime Receives Encouraging Hammerdown Report - More - November 04, 2011 | Item | ShareThis
Silvore Fox Grants Option to New Director - More - November 04, 2011 | Item | ShareThis
Orosur Mining Inc Exercise of Share Options - More - November 04, 2011 | Item | ShareThis
Decade Resources Ltd.: 33.6 g/t Gold Obtained in Exploration on Properties in the Flin Flon Area of Manitoba - More - November 04, 2011 | Item | ShareThis
Robex Appoints a New Investor Relations Firm - More - November 04, 2011 | Item | ShareThis
Pershimco's Step-out Drilling Results Validate Deeper Copper-gold Potential to the North and Below the La Pava Oxide Gold Mineralization - More - November 04, 2011 | Item | ShareThis
Salmon River Signs Memorandum of Understanding With Chinese Steel Producer Providing Financing and Off-Take Private Placement for Up to C$1.5 Million Announced - More - November 04, 2011 | Item | ShareThis
Lago Dourado Appoints Frederico Marques to the Board of Directors and Grants Stock Options - More - November 04, 2011 | Item | ShareThis
Galore Announces Flow-Through Offering - More - November 04, 2011 | Item | ShareThis
Mexus Gold US Announces Submarine Cable and Mine Operations Updates - More - November 04, 2011 | Item | ShareThis
Creso Announces Commencement of Drilling Program, Renewal of Matona Option and Resignation of President and CEO - More - November 04, 2011 | Item | ShareThis
Highbank Completes Phase 1 Drill Program in the Highland Valley - More - November 04, 2011 | Item | ShareThis
Goldenway Precious Metals Ltd. Announces Acquisition With Cyber Informatix Inc. - More - November 04, 2011 | Item | ShareThis
Mercer Gold Corporation Changes Its Name to Tresoro Mining Corp. and Begins Trading Under New Symbol TSOR-OTC - More - November 04, 2011 | Item | ShareThis
Newcastle Begins Pickle Lake Prospecting Program - More - November 04, 2011 | Item | ShareThis
New Gold Announces 2011 Third Quarter Results with 105% Increase in Net Cash Generated from Operations to $71 million - "New Gold Inc. ("New Gold") (TSX:NGD.to - News)(NYSE AMEX:NGD) today announces financial and operational results for the third quarter of 2011. The company finished the third quarter with gold sales of 93,028 ounces at a total cash cost(1) per ounce sold, net of by-product sales, of $528 per ounce. The combination of increased gold sales and the continued strength of the gold price led to another quarter of strong financial results, despite certain temporary operational challenges resulting in higher total cash cost(1). During the quarter, the company's earnings from mine operations increased by 61% to $76 million, resulting in net earnings of $41 million, or $0.09 per share. Net cash generated from operations increased by 105% to $71 million when compared to the third quarter of 2010." More - November 04, 2011 | Item | ShareThis
Miranda Gold Reports Final Drill Results from Red Hill and Coal Canyon Projects - More - November 04, 2011 | Item | ShareThis
Douglas Lake Releases Drilling Progress Update on Their Kwandege Target - More - November 04, 2011 | Item | ShareThis
Intrepid Mines-Change of Share Registry - More - November 04, 2011 | Item | ShareThis
Vaaldiam Begins Strategic Review - More - November 04, 2011 | Item | ShareThis
Primero Reports Third Quarter 2011 Results; Record Revenue, Earnings & Cash Flow - More - November 04, 2011 | Item | ShareThis
St. Elias Mines Ltd. - Annual and Special General Meeting and Corporate Presentation - More - November 04, 2011 | Item | ShareThis
American Manganese Inc.: Clarification of Resource Estimates - More - November 04, 2011 | Item | ShareThis
Timberline Resources Appoints New Independent Director to Its Board of Directors - "Timberline Resources Corporation (TSX-V: TBR.V - News)(AMEX: TLR - News) ("Timberline" or the "Company") is pleased to announce the appointment of Troy J. Fierro to the Company's Board of Directors. Mr. Fierro is a successful mining engineer with over 25 years of industry experience. He was the Chief Operating Officer with Fronteer Development Group Inc., and has held executive positions with Metallica Resources Inc., and Coeur d'Alene Mines where he has overseen the development, construction and management of mines in Nevada, Mexico, Argentina, Chile and Alaska." More - November 04, 2011 | Item | ShareThis
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Gold Seeker Weekly Wrap-Up: Gold and Silver End Mixed on the Week
Magellan Minerals
