Gold continued its recent surge and today settled at an all-time high of $1,431.20 per ounce. Gold continued to run after the settlement and reached an intra-day high of $1433.40. Gold is currently trading up $19.70 to $1429.60.
Shares of U.S. Gold Co. (UXG) saw unusually high trading volume on Tuesday. Approximately 2,759,569 shares changed hands during mid-day trading, an increase of 27.70% from the previous session. The stock last traded at $7.68.
March 1, 2011 (Investorideas.com Mining stocks newswire) Virgin Metals Inc. has refocused. In September 2010, new management was installed and immediately proclaimed an ambitious program for 2011. Later in 2010, shareholders supported the plans and invested $1.6 million into the Company. Its flagship Los Verdes project (copper-molybdenum-tungsten-silver) should get an updated review of the existing pre-feasibility study in 2011, and the Cuatro Hermanos project (copper-molybdenum) should be further explored in search of higher grade targets. New management and a viable action plan should spur investor interest. We believe that, once the market discovers this revitalized company, its stock will be a star performer.
MEXICO CITY, March 1 (Reuters) – Mexican mining company Penoles posted a 28 percent drop in fourth-quarter profit on Tuesday on higher costs, including investments in a new mine and more exploration.
NEW YORK (TheStreet) — Endeavour Silver Corporation (AMEX:EXK) hit a new 52-week high Tuesday as it traded at $7.79 compared with its previous 52-Week high of $7.69. Endeavour is changing hands at $7.79 with 476,202 shares traded as of 9:36 a.m. ET. Average volume has been 1.7 million shares over the past 30 days.
Silver has risen another 1.4% today to a high of $34.44/oz and above the 31-year interday high of $34.33/oz reached last Tuesday (February 22nd). Silver is higher in all currencies this morning, especially the Japanese yen. The news that Saudi Arabia may be sending tanks to crush anti-government protests in Bahrain saw buying of silver, gold and oil.
TORONTO, ONTARIO — (MARKET WIRE) — 03/01/11 — Oremex Resources Inc. (TSX VENTURE: ORM)(OTCQX: ORXRF)(FRANKFURT: OSI) is pleased to announce its plan to unlock the value within its enterprise by spinning out and publicly listing its gold assets. The proposed spin-out will be accomplished through a transaction with a capital pool company (CPC) and the resulting issuer is expected to be renamed Oremex Gold Inc. Oremex Gold plans a concurrent $3 million equity financing via private placement.
Intrepid Mines Limited (TSX:IAU)(ASX:IAU) (the “Company”) is pleased to announce the release of the Company’s Audited Financial Results as well as its Management’s Discussion and Analysis for the three and twelve month periods ended 31 December 2010.
“Coeur’s very strong fourth quarter performance demonstrates the powerful combination of our three new long-life silver and gold operations with exceptionally strong precious metals prices. The company materially outperformed the prior quarter and year during the fourth quarter and 2010,” Dennis E. Wheeler, chairman, president and chief executive officer, said in a press release.
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