Today: Gold, Silver Prices in India
Silver zooms, gold declines
Mumbai, Jan 6 (UNI) Speculative demand today saw Silver zoom by Rs 310 to settle at Rs 28,285 per kg, while Gold declined by Rs 55 to Rs 16,805 per ten gm on sluggish demand from industrial users, traders at the Bombay Bullion Association (BBA) said.
The white metal has surged by Rs 900 in the last three days.
Silver opened at Rs 28,300 per kg, soaring by Rs 325 against its overnight close. At the end of the day, it stood at Rs 28,285 per kg with a gain of Rs 310.
Standard gold and Pure gold resumed down by Rs 25 per ten gm each. Later, this gap widened and Standard gold and Pure gold settled at Rs 16,805 and Rs 16,885, declining by Rs 55 and Rs 60 per ten gm respectively, traders added.
In London and Asian markets, Gold was quoted low at USD 1123.00/1123.02 per troy ounce and Silver was up a USD 17.90/17.92 per troy ounce from their previous close, traders said. Read more
Orvana Completes 2009 Drill Program at Copperwood Project in Michigan
Orvana Minerals Corp.announced today that it has completed an 82-hole, 13,000-metre drill program and received assays for the first 23 holes at its Copperwood Project in Michigan. Orvana also has hired two key management personnel to assist in advancing the Copperwood Project.”This drilling has adequately delineated the deposit and we plan to provide a resource estimate early in 2010,” said Bill Williams, VP Corporate Development. “Given the favourable results to date, we have hired two experienced professionals to advance Copperwood’s engineering studies and to manage public policy matters. Read more
Provides Notice of Early Expiry of Warrants
Colossus Minerals Inc.announced today that it will be providing notice to all registered holders of the unexercised common share purchase warrants issued in connection with Colossus’ March 2009 public offering, of the Company’s decision to accelerate the expiry date of such Warrants from 4:00 p.m. on March 10, 2011 to 4:00 p.m. on November 27, 2009, in accordance with their terms. Each Warrant entitles the holder thereof to acquire one common share of the Company at CDN$2.70. Read more
Kinross Provides the following Update on its Paracatu Mine
Kinross today provided the following update on its Paracatu expansion project in Paracatu, Minas Gerais State, Brazil:
Based on the expansion plant’s current operating levels and an expected production run rate of approximately 35,000 gold equivalent ounces per month in the fourth quarter of 2009, the Company expects full-year 2009 gold equivalent production at the Paracatu operation to be approximately 340,000-360,000 ounces, at an average cost of sales per ounce of $700-735. Read more
NI 43-101 Technical Report on Its 100% Owned El Toro Polymetallic Project
Lions Gate Energy Inc. announced today that it has completed a National Instrument 43-101 technical report for the Company’s El Toro Polymetallic Project in Telkwa, British Columbia. The report has been prepared by company’s independent geologist Jean Pautler, P.Geo. The 2008 program involved mapping, prospecting, rock and soil geochemical sampling, GPS surveying of previous diamond drill hole collars and underground and surface workings, an evaluation of the property, followed by a 1495 line km airborne magnetic and electromagnetic geophysical survey. Read more
Endeavour Silver Corp. Reports Production Results for Third Quarter, 2009
Endeavour Silver Corp. announced today that silver production for the Third Quarter, 2009 from the Company’s two operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Guanajuato Mine in Guanajuato State, totalled 661,903 ounces silver, up 6percen compared to Q3, 2008.
Gold production also rose in the Third Quarter, 2009, up 46percen to 3,604 oz compared to Q3, 2008, resulting in silver-equivalent production rising 14percen to 878,143 oz compared to Q3, 2008. Read more
