Day: January 17, 2011

RTTNews) – Toronto’s main index edged down Monday from its highest level in more than two years, as base metal miners and energy producers retreated.

In line with many other commodities, including precious metals, silver, often described as poor man’s gold, has shed some gains from a 30-year high at $30 an ounce in December to trade now at a little less than $29.40 an ounce. Such correction is in order as the November US unemployment rate fell to 9.8 per cent, this year’s GDP growth forecast for the world’s largest economy is three per cent and the dollar rally is finally on.

Xtierra (TSX.V:XAG) has to rank among the TSX Venture’s best kept secrets. With the advanced Bilboa silver-zinc-lead project in Zacatecas, Mexico in feasibility with a 140 million ounce silver equivalent resource, and trading at a market cap of $14 million, the disparity between the reality and the should-be makes this a nearly too-good-to-be-true story. But while developing the understanding of the project and the company for this piece, the reasons for the low price become clear. (This is all of course my own speculation.)

Goldcorp Inc. (USA) (NYSE:GG) opened 0.64% lower than its previous closing price and went down 3.52% to close at $40.59.

Newmont Mining Corporation, NYSE:NEM percentage change fell 1.92% to close at $55.72 with the total traded volume during last trading session was 10.85 million shares.

Orofino Gold Corp (PINK:ORFG) closed on $0.160 with total traded volume 60,076.00, ofino Gold Corp.

COTTON & WESTERN MIN (PINK:CWRN) dropped by 41.18% to close on $0.0120 with day traded volume of 290.52M.