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.
Record attributable silver production of 38.6 million ounces, up 1.7%
LIMA -(Dow Jones)- Peru and Mexico are again jockeying for bragging rights as the world’s largest silver miner.
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.
Shares of Coeur d Alene Mines Corp (CDE) saw unusually high trading volume on Monday. Approximately 4,026,256 shares changed hands during mid-day trading, an increase of 64.17% from the previous session. The stock last traded at $30.93.
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