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Post by maxi on Mar 8, 2012 22:24:10 GMT -5
Wow, emini futures are slightly negative but gold is up pretty good. Wonder if there was news, like China is going to stockpile gold instead of copper. Hey, come to think of it.... You need a nap! Remember a LONG time ago when you knew the futures did not mean anything until _o'clock?
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Post by tendermyshares on Mar 8, 2012 22:33:12 GMT -5
Well I don't think technical patterns in the overnight futures mean much. But the futures themselves mean something, maybe we'll start opposite day again soon. Wow, emini futures are slightly negative but gold is up pretty good. Wonder if there was news, like China is going to stockpile gold instead of copper. Hey, come to think of it.... You need a nap! Remember a LONG time ago when you knew the futures did not mean anything until _o'clock?
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Post by Clinton SPX on Mar 8, 2012 22:52:27 GMT -5
a wise man once said the fed is in the fiat business
so its in their best interest to smack down the PMs at every opportunity.
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Post by tendermyshares on Mar 8, 2012 23:32:26 GMT -5
You'd think the Fed would be purchasing American cars. a wise man once said the fed is in the fiat business so its in their best interest to smack down the PMs at every opportunity.
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Post by maxi on Mar 9, 2012 0:34:33 GMT -5
You'd think the Fed would be purchasing American cars. a wise man once said the fed is in the fiat business so its in their best interest to smack down the PMs at every opportunity. I know no one got that but me!
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Post by ask2lern on Mar 9, 2012 7:56:39 GMT -5
Nicola Duke þ @nictrades Gold Bulls Strengthening as Bullion Wagers Reach $131 Billion: Commodities bloom.bg/zn8iBW via @bloombergnews
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Post by Clinton SPX on Mar 9, 2012 8:35:35 GMT -5
silver smackdown was at 830 today
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Post by timber on Mar 9, 2012 8:41:08 GMT -5
the jobs report was pretty good
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Post by timber on Mar 9, 2012 8:41:37 GMT -5
and govt jobs fell also....that should delight teabaggers
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Post by Clinton SPX on Mar 9, 2012 9:49:57 GMT -5
They better beat! GREAT PANTHER SILVER LIMITED (TSX: GPR.TO - News)(AMEX: GPL - News) (the "Company") announces that it plans to release its 2011 fourth quarter and year-end consolidated financial results on Monday, March 12, 2012 after market close. A conference call to discuss the results has been scheduled for Tuesday, March 13, 2012 at 7:00 AM Pacific Standard Time, 10:00 AM Eastern Standard Time. Hosting the call will be Mr. Robert Archer, President and Chief Executive Officer and Mr. Martin Carsky, Executive Vice President and Chief Financial Officer. Monday is a big day for me Mondays have tended to suck lately
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Post by jack on Mar 9, 2012 10:03:54 GMT -5
They better beat! GREAT PANTHER SILVER LIMITED (TSX: GPR.TO - News)(AMEX: GPL - News) (the "Company") announces that it plans to release its 2011 fourth quarter and year-end consolidated financial results on Monday, March 12, 2012 after market close. A conference call to discuss the results has been scheduled for Tuesday, March 13, 2012 at 7:00 AM Pacific Standard Time, 10:00 AM Eastern Standard Time. Hosting the call will be Mr. Robert Archer, President and Chief Executive Officer and Mr. Martin Carsky, Executive Vice President and Chief Financial Officer. Monday is a big day for me Mondays have tended to suck lately I like their liquid silver panther logo - sorta reminds me of Terminator 2 They don't have an ADR - how'd you acquire them? directly on the Toronto Exchange like I've bought CNL???
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Post by Clinton SPX on Mar 9, 2012 10:08:18 GMT -5
:shrug: I just type in GPL Jack it works
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Post by novice08 on Mar 9, 2012 10:08:56 GMT -5
Just GPL on the Amex.
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Post by jack on Mar 9, 2012 10:10:57 GMT -5
Ahhhhh - thanks I'm waiting for CNL to be registered on one of ours - will be an instant +10%
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Post by novice08 on Mar 9, 2012 11:06:06 GMT -5
Ok by me if they want to do this with the PMs for awhile...$38 swing on gold so far, $1.23 on silver.
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Post by jack on Mar 9, 2012 11:13:04 GMT -5
Ok by me if they want to do this with the PMs for awhile...$38 swing on gold so far, $1.23 on silver. Feb 29th's GLD crash worrisome....
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Post by tendermyshares on Mar 9, 2012 13:23:50 GMT -5
Today is the first day since the big drop last Wednesday that they haven't driven gold up hard in the 30 minutes prior to the 1:30 floor trading close. In fact they're taking it down into the close.
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Post by Clinton SPX on Mar 12, 2012 7:28:33 GMT -5
Silvercorp Metals has been churning, and now the bulls are looking for a rally over the next month.
OptionMonster’s tracking systems show that the April 6 calls traded heavily in the silver miner on Friday as more than 3,000 changed hands for $1.30 and $1.35 against open interest of just 72 contracts. This means that new money was definitely being put to work on the long side.
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Post by Clinton SPX on Mar 12, 2012 8:54:17 GMT -5
Silvercorp Metals has been churning, and now the bulls are looking for a rally over the next month. OptionMonster’s tracking systems show that the April 6 calls traded heavily in the silver miner on Friday as more than 3,000 changed hands for $1.30 and $1.35 against open interest of just 72 contracts. This means that new money was definitely being put to work on the long side. SVM bottom of my board so far LOL
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Post by maxi on Mar 12, 2012 15:51:07 GMT -5
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Post by maxi on Mar 12, 2012 15:52:43 GMT -5
I'm getting nervous about gold and silver. Is that a bullish sign?
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Post by jack on Mar 12, 2012 15:58:19 GMT -5
I'm getting nervous about gold and silver. Is that a bullish sign? After Feb 29's crash which did INCREDIBLE damage you probably have good cause to be. Next major support on the GLD is 148ish - that's 17 lower from where it is now.
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Post by Clinton SPX on Mar 12, 2012 17:25:36 GMT -5
They better beat! GREAT PANTHER SILVER LIMITED (TSX: GPR.TO - News)(AMEX: GPL - News) (the "Company") announces that it plans to release its 2011 fourth quarter and year-end consolidated financial results on Monday, March 12, 2012 after market close. A conference call to discuss the results has been scheduled for Tuesday, March 13, 2012 at 7:00 AM Pacific Standard Time, 10:00 AM Eastern Standard Time. Hosting the call will be Mr. Robert Archer, President and Chief Executive Officer and Mr. Martin Carsky, Executive Vice President and Chief Financial Officer. GREAT PANTHER SILVER LIMITED (TSX: GPR.TO - News)(AMEX: GPL - News) ("the Company") announces the financial results for the year ended December 31, 2011. Great Panther is pleased to report revenues for the year ended December 31, 2011 of $57.8 million, representing a 37% increase over 2010. The Company's gross profit or earnings from mining operations increased by 64% to $26.9 million for 2011, and net earnings increased 8% to $11.5 million. The Company also increased working capital to $53.8 million at December 31, 2011, from $18.8 million at the end of the prior year. "We are extremely pleased with our growth in revenues and the significant increase in our operating cash flow," stated Robert Archer, President and CEO. "The increase in our profitability and cash flow has enabled us to step up the investment in our properties and in exploration to drive growth in 2012 and beyond." "We are very excited about our growth prospects in 2012. The recent development of our Deep Cata and gold-rich Santa Margarita zones at Guanajuato are expected to contribute to higher grades and increased production in 2012," added Mr. Archer. "In addition, we have a very intensive exploration and development program for San Ignacio which we expect will contribute to production growth in 2013." Despite the significant increase in revenue and gross profit realized by the Company in 2011, the increase in net income for the year was limited by a number of primarily non-cash charges. These include deferred income tax expense of $1.9 million in the fourth quarter as a result of utilization of tax losses in Mexico and certain costs which have been depreciated faster for tax purposes than for accounting purposes; $2.2 million in non-cash share-based payments made in the fourth quarter and $4.6 million in foreign exchange losses which primarily relate to unrealized losses on loans made by the Company to its Mexican subsidiary. The full version of the Company's audited financial statements and Management Discussion and Analysis can be viewed on the Company's website at www.greatpanther.com or on SEDAR at www.sedar.com.
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Post by jack on Mar 12, 2012 17:29:35 GMT -5
WTG Clint!!!!
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Post by maxi on Mar 12, 2012 17:57:27 GMT -5
Just saw that earnings came out. Congrats. I hope this makes it go up from here.... I have never followed micro cap miners much...
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Post by maxi on Mar 12, 2012 18:09:05 GMT -5
Apparently the mining industry can't find qualified engineers and geologists.. www.reuters.com/article/2012/03/07/canada-mining-pdac-labor-idUSL2E8E5DW920120307?feedType=RSS&feedName=industrialsSector&rpc=43PDAC-Miners tweak training, bonuses amid labor shortage Wed Mar 7, 2012 10:15am EST * Shortages from senior engineers to skilled trades * Sector faces aging workforce, retirements * Canada will need 100,000+ skilled hires over decade By Allison Martell TORONTO, March 6 (Reuters) - Anita Bertisen's family and friends thought she was crazy when she enrolled in a mining engineering program in 1998, when the notoriously volatile industry was struggling worldwide. As it turned out, Bertisen was just ahead of her time. A senior engineer at California-based consulting firm Tetra Tech Inc, she now deflects weekly pitches from headhunters. It's part of a broader trend, as a tight labor supply holds back growth across the mining sector, with shortages of skilled labor from senior engineers to welders. Firms are looking for creative ways to fill the gap, from more intensive and accelerated training to new bonus structures, and the subject is a hot topic at the Prospectors and Developers Association of Canada conference in Toronto. The mood at the conference is cautiously optimistic, and many businesses are expanding - Bertisen's office in Golden, Colorado, more than doubled its work force in the last 18 months. But firms need more workers, and a handle on labor costs, to keep growing. In the next decade Canada's mining sector will need more than 100,000 mostly skilled new hires to sustain even modest growth, the Mining Industry Human Resources Council, a non-profit funded by the federal government and the mining industry, said in September. It estimated that 201,000 people worked in the sector in 2011, many of whom are close to retirement age. Similar trends are seen around the world. Tetra Tech's approach is to hire 25-year-olds - or "kids," as some veterans call them - and train them. "Right now I'm an old-timer in my company. That's how many new people we have," said Bertisen, who joined in 2010 , when she was 30. Ideally, consulting firms would hire experienced staff, she said, but that's not possible right now. Jeff Wilson, the company's director of geology, sees training and higher pay as one way of filling in for a missing generation of engineers and geologists. "Most folks in the industry are (Bertisen's) age or below, and then 50 or above. There's very little in between," he said. "You've had a series of booms and busts, and in each of the busts we've let the kids go." That is why the sector will be hit particularly hard as baby boomers retire. Now when Wilson hires a junior geologist, the company shells out some $10,000 in the first year for things like software training. Bertisen's side of the business has had to develop mentorship and training programs for the first time. "The internal bottleneck is people, definitely," said Daniel Simoncini, chief executive of Foraco International, a French-based drilling company. "Everybody is developing his own solutions." Those initiatives are starting to pay off, Simoncini said. Foraco now trains drill operators in as little as 18 months, rather than two and a half years, as in the past. "We screen very carefully upfront," he said. "Then we send them on the rigs as a third man. It's an extra cost for us, but at least the guy gets full exposure." Foraco is also pushing its customers - mostly major mining companies - to sign longer contracts so it can put more operators on salary, rather than hiring freelancers, as they now do in North America. Diversified miner Thompson Creek Metals has managed to avoid delays associated with labor shortages, but Chief Executive Kevin Loughrey said it has paid in high turnover and somewhat lower productivity than he would like. "We try to make our workplace attractive and enter into deals that sometimes will have performance bonuses for people who do well, to try to get them to stay," he said. Indeed, wages are rising. In December, average weekly earnings in mining, quarrying and oil and gas extraction rose 8.5 percent year-over-year, according to Statistics Canada. For its part, Cabo Drilling Corp awards slightly higher bonuses than its competitors, but keeps half the money until the end of the year. The idea is to hold on to operators through the summer, when rivals are most likely to poach. Australia's AMC Consultants cannot compete with bigger outfits on salary, so the firm tries to offer a higher quality of life - allowing employees to work from home, for example. John Smith, chief executive of Silver Standard Resources Inc , agrees that retention is about more than money. "Nothing keeps people like excitement," he said. "Yes, you have to pay people a fair day's wages, but what I think keeps people is a sense of excitement, and the feeling that what they are doing is making a difference."
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Post by maxi on Mar 12, 2012 18:14:54 GMT -5
news.goldseek.com/GoldSeek/1331479620.phpLegacy Commitment of Traders -- Posted Sunday, 11 March 2012 | Share this article | Source: GoldSeek.com Wow, the commercial traders for this reporting period went NET long 8,797 contracts in silver and also went NET long 45,143 contracts in gold. This report covers last Wednesday through this past Tuesday. This report should fuel the conspiracy that there was manipulation on that smashdown last week, as the "informed money" covered their short positions like madmen, when the speculators were liquidated and sell stops triggered from their long positions. Open Interest in gold dropped 35,795 contracts and silver dropped 4,843 contracts. Open interest is reduced when longs liquidate by selling, and shorts cover their positions by buying from them. This report is a jaw dropping eye opener. I believe it is extremely doubtful that the bullion banks would have bought this many contracts if they felt gold and silver were over valued. These banks should thank their lucky stars for this gift. I am looking forward to Ed Steer's commentary this weekend at Casey Research's gold and silver daily. The link to his daily can be found here: www.caseyresearch.com/gsd/homeAlso, in the Dollar Index the Commercial traders went NET short an additional 4,367 contracts. They are now short 38,729 contracts and long 4,699. This is still a big time short position. The Dollar Index has broken up through the 80 level today. It will be interesting to see what takes place next week. There isn't a chance I would hold a trade in the Dollar Index at the end of electronic trading on a weekday, nevermind over a weekend with the structure of this COT report. In the Nasdaq 100 consolidated report the Commercials reduced their NET short position by only 512 contracts.
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Post by maxi on Mar 12, 2012 18:22:21 GMT -5
I hope I am not repeating stuff that has been mentioned in this thread already. But there is an index $HUI the goldbug index. It is a good indicator of what PM miners are doing.... Thought i would show u the chart....
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Post by maxi on Mar 12, 2012 18:23:49 GMT -5
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Post by Clinton SPX on Mar 12, 2012 22:56:58 GMT -5
Guy on Bloom just said the mid west is awash in oil and they need to get that pipeline done to convert this oil to gasoline and export it.
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