• Gold: 1,289.21 -0.01
  • Silver: 19.56 0.05
  • Euro: 1.318 -0.000
  • USDX: 82.477 0.001
  • Oil: 94.65 0.12

Santacruz Silver Reports Second Quarter 2014 Financial Results

4 hours 11 min ago

"During the second quarter we have been successful in reducing our operating costs significantly while keeping on-track with our 2014 mine plan, in particular we have reduced our all-in sustaining cost per silver equivalent ounce sold by more than 28% from the first quarter of 2014,"

July 22: Gold Falls While Silver Holds Firm

Gold fell $10.81 to $1302.09 at about 8:20AM EST before it jumped up to $1315.45 in the next 20 minutes of trade, but it then fell back off again in midmorning trade and ended with a loss of 0.49%. Silver slipped to as low as $20.743 before it climbed to $21.058 and then also fell back off, but it still ended at unchanged on the day.

Calling Rush Limbaugh

If we gold and silver “stackers” are correct, very bad times are ahead for the global economy, developments that will almost certainly negatively impact the standard of living of virtually all people who live on our planet.

Silver Market Morning

The gold price closed at $1,312.90 up $2.40 on Monday in New York. In Asia and early London, prices fell back to $1,306. The gold price was Fixed at $1,307 down $5.75 and in the euro at €969.441 down €1.313, while the euro was slightly weaker at $1.3482 down nearly half a cent. Ahead of New York’s opening, gold was trading at $1,306.60 and in the euro at €969.22.

July 21: Gold and Silver Gain With Bonds and Oil

Gold edged down to $1307.96 in early Asian trade before it jumped up to $1318.17 at about 8AM EST and then fell back to $1310.44 by late morning in New York, but it then bounced back higher in afternoon trade and ended with a gain of 0.18%. Silver rose to as high as $21.105 and ended with a gain of 0.43%.

"Something" is likely to give soon.

It's all closing in on TPTB, as Treasury yields are now in freefall assuming global QE to Infinity - sooner rather than later. Moreover, as more info emerges, the odds that the Malaysian plane was NOT shot down by Russia mount, whilst the Israeli war escalates exponentially.

Silver Market Morning

The gold price closed at $1,310.50 down $9.10 on Friday in New York. In Asia and early London, prices rose to $1,315. The gold price was Fixed at $1,312.75 up $2.50 and in the euro at €970.754 up €2.35, while the euro was slightly weaker at $1.3523. Ahead of New York’s opening, gold was trading at $1,315.10 and in the euro at €972.20.

Gold and Silver Disaggregated COT Report (DCOT) for July 18

HOUSTON – The Commodity Futures Trading Commission (CFTC) released data for the disaggregated commitments of traders (DCOT) and Legacy “COT” reports for the week ending July 18, 2014. Our recap of the net positioning for large reporting futures traders is below, compared to the prior week’s data.

July 18: Gold and Silver Fall About 2% on the Week

Gold fell $14.99 to $1304.61 in early New York trade before it bounced back higher in afternoon trade, but it still ended with a loss of 0.69%. Silver slipped to as low as $20.733 and ended with a loss of 1.37%.

Sharp consolidation

Before yesterday's (Thursday) rise in bullion prices, precious metals were in corrective mode this week after recent rises. There were two big stand-out sales of gold contracts on Monday, estimated to be about 5,000 contracts at the European opening, and 15,000 on the US opening. The combination of the two sales drove gold down over $30, and on Tuesday a further sale of 15,000 contracts drove the price down to a low of $1293 for a total fall of $45.

Silver Market Morning

The gold price closed at $1,319.60 up $21.10 on Thursday in New York. In Asia and early London, prices retreated to $1,312 ahead of London’s opening. The gold price was Fixed at $1,310.25 up $7.50 and in the euro at €968.404 up €5.757, while the euro was slightly weaker at $1.3530. Ahead of New York’s opening, gold was trading at $1,311.30 and in the euro at €969.46.

July 17: Gold and Silver Gain Almost 2%

Gold gained almost $10 to $1308.21 in Asia before it fell back to $1299.65 in London, but it then jumped to as high as $1323.23 in New York and ended with a gain of 1.62%. Silver surged to as high as $21.18 and ended with a gain of 1.88%.

Huffing and Puffing

This week's blatant propaganda scheme is miserably failing; as despite all the Fed's "huffing and puffing" about market overvaluation, (PPT and QE-supported) stocks remain at all time highs, whilst volatility is at all-time lows and Treasury yields are threatening to do the same.

SilverCrest Announces Q2 Production; 173,000 Ounces Silver and 3,995 Ounces Gold

SilverCrest Mines Inc. (SVL.TO)(NYSE MKT:SVLC) (the "Company") is pleased to announce silver and gold production results from its 100% owned Santa Elena Mine located in Sonora, Mexico, for the second quarter (Q2) of 2014. The Santa Elena Mine is currently transitioning from an open pit heap leach to a conventional 3,000 tonne per day (tpd) mill facility and underground operation. As a result, projected and actual production for the quarter were lower than that of the comparable quarter of 2013. An update on the commissioning activities is provided below

Santacruz Silver Announces Second Quarter 2014 Production Results

Santacruz Silver Mining Ltd. (SCZ.V) (the "Company" or "Santacruz") is pleased to announce second quarter 2014 production of 169,800 payable silver equivalent ounces from the Company's Rosario Mine in San Luis Potosi, Mexico . This production represents a 40% quarter over quarter increase as compared with Q1 2014 payable silver equivalent ounces and the Company remains on schedule to meet its production target of between 850,000 to 1,100,000 silver equivalent ounces by the year-end 2014.

Silver Market Morning

The gold price closed at $1,298.50 up $4.40 on Wednesday in New York. In Asia and early London, prices recovered to over $1,305 ahead of London’s opening. The gold price was Fixed at $1,302.75 up $5.25 and in the euro at €962.647 up €4.517, while the euro was weaker at $1.3533. Ahead of New York’s opening, gold was trading at $1,304.10 and in the euro at €964.00.

July 16: Gold and Silver Gain With Stocks, Bonds, Dollar, and Oil

Gold saw slight gains in Asia and London before it rose to $1303.62 at about 10:45AM EST and then fell back off into the close, but it still ended with a gain of 0.34%. Silver rose to as high as $20.825 and ended with a gain of 0.19%.

Sean Rakhimov: Upward Trend a Silver Investor's Friend

An upward trend is afoot in the silver space, says Sean Rakhimov, editor of SilversStrategies.com. Rakhimov believes that at $26/ounce the reversal of the downward trend in silver will be confirmed and silver investors should set their sights on the next resistance level—$32/ounce. And if that threshold is breached, silver will test $50/ounce and more. In this interview with The Gold Report, Rakhimov talks about trends in the silver space and what makes silver special.

Excellon reports second quarter 2014 production

TORONTO, July 16, 2014 /CNW/ - Excellon Resources Inc. (TSX:EXN; OTC:EXLLF) ("Excellon" or the "Company"), Mexico's highest grade silver producer, is pleased to announce second quarter 2014 production results from the La Platosa Mine in Durango, Mexico.

Silver Market Morning

The gold price closed at $1,294.10 down $12.60 on Tuesday in New York. In Asia and early London, prices again began to recover rising to $1,298 ahead of London’s opening. The gold price was Fixed at $1,297.50 down $14.50 and in the euro at €958.130 down €7.073, while the euro was weaker at $1.3542 and still falling. Ahead of New York’s opening, gold was trading at $1,298.20 and in the euro at €959.43.

July 15: Gold and Silver Fall About 1% More

Gold climbed $6.97 to $1313.67 by a little after 5AM EST before it plunged down to $1292.203 shortly after 11AM EST and then bounced back higher at times, but it still ended with a loss of 0.96%. Silver edged up to $21.051 before it fell to $20.719 and then also rallied back higher, but it still ended with a loss of 1.00%.

Silver, Gold and Living by the Sword

It is said that, “If you live by the sword, you die by the sword.” Let’s expand the concept and confirm that ancient bit of wisdom. If you depend upon your sword for self-defense and aggression, you can reasonably expect that someday you will meet another swordsman who will slice your body and kill you.

Wow, what a shock! for Whirlybird Janet

Wow, what a shock! Gold and silver attacked on the year's thinnest trading day, one day ahead of the historic "key attack event" of Whirlybird Janet's semi-annual Congressional economic testimony.

Silver Market Morning

The gold price closed at $1,306.70 down $31 on Monday in New York. In Asia and early London, prices began to recover rising to $1,310 ahead of London’s opening. The gold price was Fixed at $1,312.00 down $9.60 and in the euro at €965.203 down €4.664, while the euro was weaker at $1.3593. Ahead of New York’s opening, gold was trading at $1,311.60 and in the euro at €964.80.

Brazen

Brazen. This is the first word that came to mind when I checked today’s silver prices on Silverseek.com, Synonyms for “brazen” include “bold” or “fearless.” To me the word connotes an attitude that one is going to do what one wants and doesn’t care what anyone else thinks. There’s an arrogance, a cockiness or perhaps even an air of desperation I associate with brazen acts and those who commit them.

July 14: Gold and Silver Fall Over 2%

Gold dropped $34.39 to $1303.31 at about 9:30AM EST before it stabilized, but it still ended with a loss of 2.32%. Silver slipped to as low as $20.849 and ended with a loss of 2.38%.

First Majestic Elects Not to Exercise Right to Match Coeur's Offer for Orko

First Majestic Silver Corp. (FR.TO)(AG)(FMV.F) ("First Majestic" or the "Company") announces that it has today notified the Board of Directors of Orko Silver Corp. that it is not matching the offer made by Coeur d''Alene Mines Corporation ("Coeur") and will not be increasing the consideration under First Majestic''s offer to acquire all of the issued and outstanding Orko shares.

COMEX Silver Inventory Update: +396,820.320 ounces

COMEX Silver Inventory Update: +396,820.320 ounces

February 26: Gold and Silver Gain Over 1% More

Gold bumped up to $1601.89 in Asia before it fell to see a $10.26 loss at $1584.34 at about 10:15AM EST, but it then shot to as high as $1619.40 in the next hour of trade and ended with a gain of 1.21%. Silver surged to as high as $29.456 and ended with a gain of 1.19%.

March 5: Gold and Silver End Slightly Higher

Gold climbed up to $1586.04 at about 8:30AM EST before it fell back to $1571.75 over the next five hours, but it then bounced back higher in afternoon trade and ended with a gain of 0.08%. Silver surged to as high as $29.065 before it fell back to $28.513, but it still ended with a gain of 0.42%.

March 6: Gold and Silver Rise, Miners Jump Higher

Gold dropped to $1567.40 at about 9:45AM EST before it rebounded to $1584.58 in the next hour of trade and then fell back to about unchanged by early afternoon in New York, but it then rallied back higher in the last few hours of trade and ended with a gain of 0.53%. Silver slipped to $28.54 before it jumped up to $29.067 and then also fell back off, but it still ended with a gain of 1.33%.

COMEX Silver Inventory Update: -702,570.770 ounces

COMEX Silver Inventory Update: -702,570.770 ounces

COMEX Silver Inventory Update: -353,754.450 ounces

COMEX Silver Inventory Update: -353,754.450 ounces

Endeavour Silver Reports Record Earnings, Cash Flow and Revenue in 2012, Conference Call at 10 am PDT (1 pm EDT) on March 13, 2013

Endeavour Silver Corp. (EDR.TO)(EXK)(EJD.F) announced today record earnings, cash flow and revenue for the year ended December 31, 2012, thanks to the Company''s eighth consecutive year of growing silver and gold production. Endeavour owns and operates three underground silver-gold mines in Mexico: the Guanacevi mine in Durango state, and the Bolanitos and El Cubo mines in Guanajuato state.

COMEX Silver Inventory Update: -162,359.980 ounces

COMEX Silver Inventory Update: -162,359.980 ounces

March 12: Gold and Silver Gain Almost 1%

Gold held near unchanged in Asia, but it then jumped higher at about 7AM EST and ended near its late morning New York high of $1598.21 with a gain of 0.77%. Silver surged to as high as $29.35 and ended with a gain of 0.59%.

Industrial Uses Forecast to Boost Demand for Silver

Industrial demand for silver has increased substantially over the past two decades and is expected to soar to a new record level in the coming year. Speaking last week at the annual Prospectors & Developers Association of Canada convention in Toronto, Michael DiRienzo, Executive Director of the Silver Institute, said that demand for silver is broadening in many directions. Industry’s widening use of the precious metal is expected to average more than 483 million ounces (Moz.) from 2012 to 2014, a level 53 percent greater than the average annual industrial fabrication demand of 313.4 Moz from 1992-2001.

iShares Silver Trust Subtracts 150.30 Tonnes

iShares Silver Trust Subtracts 150.30 Tonnes

Fortuna reports record net income, operating cash flow, and sales for 2012

VANCOUVER , March 20, 2013 /CNW/ - Fortuna Silver Mines Inc. (FSM) (FVI.TO) (FVI.TO) (F4S.F) today announces 2012 revenue of $161 million and net income of $31.5 million for the year. For the fourth quarter revenue totaled $37.9 million with net income of $8.5 million . Record silver and gold production for the year increased to a record 3,987,757 ounces and 20,699 ounces, respectively, at a consolidated cash cost per ounce, net of by-product credits, of $5.96.

March 21: Gold and Silver Gain Roughly 1%

Gold climbed to as high as $1616.42 at about 10AM EST before it chopped back lower at times, but it still ended with a gain of 0.54%. Silver surged to as high as $29.312 and ended with a gain of 1.29%.

Silver Wheaton reports record 2012 results

"2012 was another exceptional year for Silver Wheaton, anchored by a fourth quarter that saw record production, sales, revenue, net income, and cash flow for the company," said Randy Smallwood, President and Chief Executive Officer of Silver Wheaton. "With the addition of production from Hudbay's 777 mine midway through the year, plus growing production from Peñasquito, San Dimas and Zinkgruvan, 2012 production exceeded our forecast by over one and a half million ounces." "This translated into sales of over 27 million ounces, with the fourth quarter coming in at over nine million ounces, and full year cash flows of over $719 million. Given our dividend policy of paying out 20% of the trailing quarter's cash flow, Silver Wheaton's strong production growth profile directly translates into higher dividends, with $0.35 per common share paid during 2012, almost double what was paid in 2011, and our strong fourth quarter resulted in our first dividend in 2013 being $0.14 per share." "With the recently announced acquisition of gold streams from Vale S.A.'s Salobo and Sudbury mines, we are confident that 2013 and beyond will bring further growth and many new records to Silver Wheaton. While our organic growth profile now forecasts roughly an 80% increase of silver equivalent production over the next five years, we firmly believe there are yet more accretive opportunities for us to further add to our world-class portfolio of precious metals streams."

SilverCrest Files La Joya Technical Report Updated Resources & Positive Preliminary Metallurgy

SilverCrest Files La Joya Technical Report Updated Resources & Positive Preliminary Metallurgy; Potential For High Grade Cu-Ag-Au Concentrate With Over 30% Copper

Notice: All US and Canadian markets will be closed on Friday

Please note: All US and Canadian markets will be closed on Friday. This will result in large spreads between the silver bid and ask prices.

COT Report - March 29, 2013

...

April 1: Gold Edges Up While Silver Slips

Gold chopped around in a tight range of $1595.00 to $1600.90 in lackluster post-holiday trade and ended with a gain of 0.06%. Silver slipped to as low as $27.87 and ended with a loss of 1.44%.

Prophecy Platinum: enormous upside potential with low risk at the Yukon’s emerging Wellgreen PGM Ni-Cu district, and beyond

Prophecy Platinum (NKL: TSX-V, PNIKF: OTCQX) is a Canadian-based PGM-Ni-Cu company that is focused on developing their district-scale Wellgreen project in the Yukon and fully permitted Shakespeare mine in Ontario. The company is well positioned with respect to fundamental supply and demand changes in the PGM market, and recently appointed managers are helping their team expedite growth.

COMEX Silver Inventory Update: -81,395.465 ounces

COMEX Silver Inventory Update: -81,395.465 ounces

Endeavour Silver Reports Record Production in First Quarter, 2013; Produces 1,489,746 oz Silver (Up 39%) and 15,032 oz Gold (Up 138%)

Endeavour Silver Corp. (EDR.TO)(EXK)(EJD.F) announced today that the Company set new records for silver and gold production in the First Quarter, 2013 from the Company's three operating silver mines in Mexico, the Guanacevi Mine in Durango State and the Bolanitos and El Cubo Mines in Guanajuato State.

SilverCrest Continues to Expand Santa Elena Deposit More High Grade Intercepts; 21.6m @ 1.46 gpt Au and 169.1 gpt Ag

SilverCrest Mines Inc. (TSX VENTURE:SVL)(NYSE MKT:SVLC) (the "Company") is pleased to announce results of further delineation drilling at the Santa Elena Mine in Sonora, Mexico. Since mid 2012, 132 drill holes have been completed to further expand underground resources and reserves. This drill program continues to be extremely successful with the most recent holes identifying additional bonanza grades (as defined below) and providing further intercepts in the El Cholugo Zone. To date, resources at Santa Elena have been delineated along a strike length of over 1,200 metres and to a depth of 600 metres. The results of all holes included in this news release will be part of the ongoing resource expansion and reclassification to be included in the Pre-Feasibility Study for the Santa Elena Expansion Project which is nearing completion.

COMEX Silver Inventory Update: -978,339.568 ounces

COMEX Silver Inventory Update: -978,339.568 ounces

COMEX Silver Inventory Update: +1,434,531.165 ounces

COMEX Silver Inventory Update: +1,434,531.165 ounces

Silver rallies, but set for hefty drop on quarter

Silver futures led the rally among major metals Friday, but it was still poised for a loss of around 16% for the quarter.

Silver Market Update

Much of what is written for the Gold Market update applies equally to silver, so it will not be repeated here. There are, however, some important differences that we will focus on here, which suggest that silver now has really big upside potential from this point, despite its comparatively anemic reaction on Friday to the news out of Europe, compared to other commodities.

Capped at Round Numbers

Gold prices are AGAIN being capped at a round number, this time $1,590/oz despite a veritable cornucopia of gold bullish news, from steadily beating Middle East “war drums,” to FIVE separate pieces of weak U.S. economic data, to the implosion of the MOST IMPORTANT STOCK IN THE MARKET – “Margin Stanley” – following abysmal earnings that included the disclosure that it still needs to post $3 billion for collateral related to the recent Moody’s downgrade. Silver, too, is being heavily capped, at the same KEY ROUND NUMBER of $27.50/oz that has served as the Cartel’s line in the sand for roughly three weeks.

iShares Silver Trust: 9,742.43 tonnes

iShares Silver Trust: 9,742.43 tonnes

Silver Market Update

Some weeks ago in a Silver Market update we had noted that a large potential Head-and-Shoulders top area was completing in silver, but we got "...

First Majestic Completes Acquisition of Silvermex Resources

First Majestic Silver Corp. ("First Majestic") (FR.TO)(AG)(FMV.F) and Silvermex Resources Inc. ("Silvermex") (SLX.TO)(OTC.BB:GGCRF)(GSBN.F) are pleased to announce the completion of the plan of arrangement (the "Arrangement") previously announced in the joint news release of First Majestic and Silvermex dated April 3, 2012.

Real Money

The global economic meltdown continues, with the “President’s Working Group on Financial Markets” doing their best to support the “DOW JONES PROPAGANDA AVERAGE” while other (unnamed) forces attempt to cap the “barometers of bad tidings” – gold and silver.

Silver Market Morning

Gold closed in New York at $1,581.00 $4 higher, yesterday. London’s morning Fix today was set at $1,583.00 up $3 on yesterday and in the euro at €1,291.296, while the euro stood at €1: $1.2259 down nearly 20 cents on the dollar. Ahead of New York’s opening gold stood at $1,581.75 in the middle and in the euro at €1,293.28.

Better Places to Keep Your Money than the Bank

My local bank in Colorado is literally offering to pay me no interest --just an offensive 0.05% annually, before taxes. The interest rate triples to 0.15% when the balance exceeds $50,000. Absolutely no incentive when one considers the risks the bank imposes on your capital, retaining only pennies on the dollar of your money, then leveraging your capital -- fractional banking. How can I be interested in a 0% savings rate deposited at a relatively risky institution while supporting the fractional banking system?

COMEX Silver Inventory Update: -287,542.774 ounces

COMEX Silver Inventory Update: -287,542.774 ounces

First Majestic Reports Second Quarter Financial Results

FIRST MAJESTIC SILVER CORP. (AG: NYSE; FR: TSX) (the "Company" or "First Majestic") is pleased to announce the unaudited condensed interim consolidated financial results for the Company for the second quarter ending June 30, 2012. The full version of the financial statements and the management discussion and analysis can be viewed on the Company's web site at www.firstmajestic.com or on SEDAR at www.sedar.com and on EDGAR at www.sec.gov.

COMEX Silver Inventory Update: +566,677.050 ounces

COMEX Silver Inventory Update: +566,677.050 ounces

The Arbitrageur: The Decline and Fall of Silver Backwardation

On Friday, I published an article...

Comex silver stocks hit highest in at least 28 mths

Silver stockpiles in Comex-monitored warehouses a re at their highest level since at least December 2009, s howing near-term supply of the metal...

Bull Hammer in Silver

There was some major downside price rejection yesterday in Silver which can be seen clearly in the bull "Hammer" daily candlestick pattern. This should make the bears think twice about their prospects. There is potential here for a near term change in trend, but it is important to remember Japanese Candlestick patterns are useless without confirmation.

iShares Silver Trust: +30.18 tonnes

iShares Silver Trust: +30.18 tonnes

Helicopter Ben Speaks

Another typical day in the land of “free markets.” Under an endless crush of “horrible headlines,” stocks are simply not allowed to decline. Of course, when Helicopter Ben speaks before Congress – as he did today in his bi-annual “Humphrey Hawkins” economic testimony – gold is viciously attacked, as if Bennie has EVER hinted of incremental monetary policy on Capital Hill. Just yesterday, gold was a (capped) safe haven, but all of a sudden, it’s not.

CFTC’s Chilton Sees Silver Probe Concluding This Year

A four-year probe of potential price manipulation in the silver market may be completed as early as September, according to Bart Chilton, a member of the U.S. Commodity Futures Trading Commission.

iShares Silver Trust: 9,639.42 tonnes

iShares Silver Trust: 9,639.42 tonnes

July 27: Gold and Silver Gain About 2% on the Week

Gold climbed almost 1% to $1629.31 at around 8:20AM EST before it drifted back lower at times in New York, but it then bounced back higher in late trade and ended with a gain of 0.48%. Silver surged to as high as $27.839 before it also fell back off at times, but it still ended with a gain of 0.98%.

COMEX Silver Inventory Update: -621,019.100 ounces

COMEX Silver Inventory Update: -621,019.100 ounces

August 1: Gold and Silver Fall With Stocks

Gold edged up to $1618.45 in Asia before it dropped down to $1592.17 after the FOMC announcement, but it then bounced back higher in late trade and ended with a loss of just 0.87%. Silver slumped to as low as $27.157 before it also rebounded, but it still ended with a loss of 2.04%.

iShares Silver Trust: 9,742.43 tonnes

iShares Silver Trust: 9,742.43 tonnes

Highest Voted

First Majestic Silver Corp., 100.0% (1 votes)
Bill Rice, Jr., 98.3% (12 votes)
James C. McShirley, 95.6% (9 votes)
Bill Holter, 98.3% (12 votes)
Bill Rice, Jr., 98.3% (12 votes)
Bill Rice, Jr., 100.0% (18 votes)
Bill Holter, 100.0% (11 votes)

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