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 mans 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 years GDP growth forecast for the worlds largest economy is three per cent and the dollar rally is finally on.
Xtierra (TSX.V:XAG) has to rank among the TSX Ventures 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.
New Gold Inc. (USA) (AMEX:NGD) fell 3.47% to $8.63.
Never mind the correction in the price of silver, says Silver Strategies Editor Sean Rakhimov; better things are ahead. “It may be volatile; it may be steep; but it should be short-lived,” he says, adding that he expects silver to rise well above its 2010 high at some point in 2011. Some of that price support could come from governments entering the silver market. Find out all the reasons for this and read about some of Sean’s favorite silver plays in this exclusive interview with The Gold Report.
Sonoma Resources Inc. announces that it will proceed with a non-brokered Private Placement of up to 4,000,000 units of Sonoma at a price of $0.05 per unit for proceeds to the Company of up to $200,000. Each Unit consists of one common share of Sonoma and one non-transferable share purchase warrant entitling the holder to acquire one additional common share of Sonoma at a price of $0.10 per common share for a period of eighteen months from the date of the issuance of the purchase warrant with a forced exercise provision attached to each warrant commencing on the day following the expiry of any applicable hold period on the underlying Common Share, stating that if, for ten consecutive trading days, the closing price of the listed shares of the Company exceeds $0.40 then the exercise period of the warrants will be reduced to a period of 10 days following such trading days.
RENO, NV–(Marketwire – January 12, 2011) – Gold Bag, Inc. (OTCBB: GBGI) announced that the company’s common shares have been approved for electronic quotation on the OTC Bulletin Board. The Financial Industry Regulatory Authority (“FINRA”) approved the request as submitted in Form 15c211 by Burt Martin Arnold Securities.
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