Month: February 2011

Options in Play: Coeur d’Alene Mines and Silver Standard Resources

Traders are taking aim at commodity stocks today, with option activity ramping up on sector peers Coeur d’Alene Mines Corporation (CDE) and Silver Standard Resources Inc. (SSRI). CDE is in the spotlight after a solid showing on the earnings front, while SSRI is also attracting some bullish attention.

Agnico-Eagle: Value for the Risk-Averse Investor

Agnico-Eagle (AEM) is a Toronto based Gold producer with operating mines in North America and Finland. Formed in 1972 from the merger of Agnico Mines and Eagle Gold Mines, Agnico-Eagle is focused on a strategy of acquiring and developing quality projects in low risk regions of the world.

Mexico’s December Mining Production Up 6.3% On Year

Mexico’s mining production rose 6.3% in December from the same month a year earlier, led by a rise in copper output as production resumed at the country’s largest copper mine after a three-year shutdown.

Gold Resource Corporation Declares Eighth Special Cash Dividend

DENVER, CO–(Marketwire – 02/28/11) – Gold Resource Corporation (GORO) (AMEX:GORO) is pleased to announce it has declared its eighth Special Cash Dividend of $0.03 per common share to its shareholders of record March 18, payable March 25, 2011. Gold Resource Corporation is a low-cost gold producer with operations in southern Mexico.

Valley High Ventures Sets Date for Meeting to Consider Levon Offer

Valley High Ventures Ltd. is pleased to announce that on February 18, 2011 it obtained an interim order of the Supreme Court of British Columbia authorizing, among other things, the holding of an annual and special meeting of holders of its common shares and options on March 22, 2011 in Vancouver, British Columbia. Meeting materials have been mailed to Valley High’s shareholders of record as at February 16, 2011. Notice of the meeting and record dates have been filed with the appropriate regulatory authorities and are available on SEDAR at www.sedar.com.

2010 Audited Financial Results show Record Earnings & Cash Flows A Breakout Year for First Majestic

FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the “Company” or “First Majestic”) is pleased to announce the audited consolidated financial results for the Company for the year ending and fourth quarter ending December 31, 2010. The full version of the financial statements and the management discussion and analysis can be viewed on the Company’s web site at www.firstmajestic.com, on SEDAR at www.sedar.com and EDGAR at www.sec.gov.

2010 HIGHLIGHTS

Goldcorp Beats Estimates

Goldcorp Inc. (GG) reported solid fourth-quarter 2010 results. Reported net earnings in the quarter were $331.8 million compared with $66.7 million in the fourth quarter of 2009. Adjusted net earnings were $417.1 million, or 57 cents per share compared with $182.7 million, or 25 cents per share in the fourth quarter of 2009. Results exceeded the Zacks Consensus Estimate of 49 cents.

Excellon Resources Inc. (TSE:EXN), (PINK:EXLLF) Is Worth Less Than a Dollar Again

Yesterday, the stock of Excellon Resources Inc. (TSE:EXN, EXN message board), (PINK:EXLLF) fell below the psychological barrier of $1 again. It seems that presently EXN is not very attractive for those who bet on the long position. In case you are investor, it would be probably wise to wait for a better time before taking the firm decision to go for buying.

Musgrove Minerals Corp. Joins OTCQX

NEW YORK, Feb. 25, 2011 /PRNewswire/ — OTC Markets Group Inc. (OTCQX: OTCM), the financial information and technology services company that provides the world’s largest electronic marketplace for broker-dealers to trade unlisted stocks, today announced that Musgrove Minerals Corp. (TSX.V: MGS; OTCQX: MGSGF), a Canadian-based mining and exploration company, is now trading on the OTC market’s highest tier, OTCQX®.

Hecla Reports 2010 Record Operating Cash Flow of $198 Million and Updates Basin Litigation

Hecla Mining Company (“Hecla”) (NYSE:HL) today announced record operating cash flow of $197.8 million, net income applicable to common shareholders of $35.4 million, or $0.14 per basic share, and adjusted net income applicable to common shareholders of $82.6 million1 or $0.33 per basic share for the year. Full year silver production was 10.6 million ounces at a total cash cost of negative $1.46 per ounce, net of by-products.2

Hecla Announces Increased Silver Reserves & Resources and Provides Exploration Update

COEUR D’ALENE, Idaho–(BUSINESS WIRE)–Hecla Mining Company (“Hecla”)(NYSE:HL) today reported silver reserves and resources as at December 31, 2010 of 142 million ounces and 248 million ounces respectively, the highest in the company’s history. Hecla is also pleased to provide an exploration update on its four large silver districts.

Primero posts Q4 profit, sees April/May US listing

TORONTO (miningweekly.com) – Junior Primero Mining posted a profit in the fourth quarter, after revenues increased significantly, and plans to list in the US in the coming months, CEO Joseph Conway said on Thursday.

Yamana Gold Declares Quarterly Dividend

YAMANA GOLD INC. today announced its first quarter 2011 dividend of US$0.03 per share. Shareholders of record at the close of business on Thursday, March 31, 2011 will be entitled to receive payment of this dividend on Thursday, April 14, 2011. The dividend is an “eligible dividend” for Canadian tax purposes.

Linear Metals Announces Completion of Private Placement

Linear Metals Corporation is pleased to announce that it has closed its previously announced non-brokered private placement consisting of 3,333,333 common shares priced at $0.30 per share, for total gross proceeds of $1,000,000. There were no warrants issued in connection with the private placement.

Newmont Mining shines in Q4 on soaring gold prices

Greenwood Village-based Newmont (NYSE: NEM), the largest U.S. gold producer and the second-largest in the world, Thursday posted attributable net income for the most recent quarter of $812 million, or $1.61 a share, up from $558 million, or $1.13 a share, in the final quarter of 2009.

Agnico-Eagle Mines Stock To Go Ex-dividend Tomorrow (AEM)

NEW YORK (TheStreet) — The ex-dividend date for Agnico-Eagle Mines (NYSE:AEM) is tomorrow, February 25, 2011. Owners of shares as of market close today will be eligible for a dividend of 16 cents per share. At a price of $71.94 as of 9:31 a.m. ET, the dividend yield is 0.9%.

US Gold Announces the Closing of Public Offering of Common Stock and Underwriters Exercise Over-Allotment Option

US GOLD CORPORATION an exploration company focused on gold and silver in the United States and Mexico, announced today the closing of its previously announced underwritten offering in the United States and Canada. The company sold 17,250,000 shares of common stock, including 2,250,000 shares pursuant to the underwriters’ full exercise of their over-allotment option at $6.50 per share for aggregate gross proceeds of $112.12 million, or net proceeds of $105.3 million after commissions and expenses.

High Desert Gold Corporation Joins the OTCQX in the U.S.

High Desert Gold Corporation is pleased to announce that the Company’s common shares have commenced trading on the OTCQX, the top tier of the broker-dealer quotation services operated by OTC Markets Inc., using the ticker symbol, HDGCF. HDG’s common shares continue to trade on the TSX.V under the symbol, HDG.

Dia Bras Reports Fourth Quarter and Full Year 2010 Volumes

Dia Bras Exploration Inc. (TSX VENTURE:DIB) reports results from its Bolivar pilot-mining and Cusi advanced development programs in Chihuahua, Mexico, for the fourth quarter ending December 31, 2010 and cumulative results for the full year.

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