Stocks and Mining news 02-23-06

[G-khan]

Option Agreement Signed With International Uranium Corporation on Sims Lake Property, West Central Labrador (http://biz.yahoo.com/pz/060223/94693.html)
8:30 am - PrimeZone Media Network

DUMONT commences core drilling of Kiewit Gold Zone and porphyry target (http://biz.yahoo.com/cnw/060223/dumont_kiewit_gold_pr.html?.v=1)
8:30 am - CNW Group

Great West Gold, Inc. - United Kingdom Listings (http://biz.yahoo.com/bw/060223/20060223005433.html?.v=1)
8:24 am - Business Wire

GlobeStar Reports Significant Increase in Copper and Gold Resources (http://biz.yahoo.com/cnw/060223/globestar_resrce_incr.html?.v=1)
8:02 am - CNW Group

Pan American Silver continues record growth in 2005 (http://biz.yahoo.com/prnews/060223/to285.html?.v=21)
8:00 am - PR Newswire

Kerr-McGee Celebrates 50 Years on the NYSE (http://biz.yahoo.com/prnews/060223/dath018.html?.v=46)
8:00 am - PR Newswire

African Gold Group, Inc: 48 Metres of 2.95 g/t Au Including 19.20 Metres of 5.91 g/t Au Confirms Gold Discovery at Kobada, Mali (http://biz.yahoo.com/bw/060223/20060223005291.html?.v=1)
8:00 am - Business Wire

Osisko Exploration Ltd: New Drilling Results at Canadian Malartic (http://biz.yahoo.com/bw/060223/20060223005173.html?.v=1)
8:00 am - Business Wire

Arcelor, Mittal to start new round in bid battle (http://us.rd.yahoo.com/finance/external/reuters/SIG=11vg30000/*http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh2232 7_2006-02-23_12-54-36_l23290415_newsml)
7:54 am - at Reuters

Rock of Ages to Release Fourth Quarter Results Wednesday, March 1, 2006 (http://biz.yahoo.com/bw/060223/20060223005148.html?.v=1)
7:30 am - Business Wire

UPDATE - Arcelor sees Erdemir partnership taking time (http://us.rd.yahoo.com/finance/external/reuters/SIG=11vg30000/*http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh2029 6_2006-02-23_11-32-23_l23562391_newsml)
6:32 am - at Reuters

UPDATE - Nippon Steel:Arcelor pact has control change clause (http://us.rd.yahoo.com/finance/external/reuters/SIG=11vg30000/*http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh1872 7_2006-02-23_10-16-14_t211893_newsml)
5:16 am - at Reuters

Freeport halts mining operations at Grasberg (http://us.rd.yahoo.com/finance/external/reuters/SIG=11vg30000/*http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh1867 2_2006-02-23_10-13-03_l22585490_newsml)
5:13 am - at ReutersWednesday February 22, 2006

UPDATE - Freeport's Papua mine stays shut, protesters remain (http://us.rd.yahoo.com/finance/external/reuters/SIG=11vg30000/*http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh1257 8_2006-02-23_04-58-28_jak26249_newsml)
11:58 pm - at Reuters

UPDATE - Angry relatives see negligence in Mexico mine blast (http://us.rd.yahoo.com/finance/external/reuters/SIG=11vg30000/*http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh1229 6_2006-02-23_04-17-05_n22172848_newsml)
11:17 pm - at Reuters

Copper concentrate still moving from Papua-Freeport (http://us.rd.yahoo.com/finance/external/reuters/SIG=11vg30000/*http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh1153 3_2006-02-23_02-52-21_jak6181_newsml)
9:52 pm - at Reuters

Feasibility design of tailings, waste dumps & site water management facilities received from Klohn Crippen Berger (http://biz.yahoo.com/prnews/060222/to283.html?.v=21)
9:32 pm - PR Newswire

Aberdeen Gould Inc. completes private placement financing for United Bolero Development Corp., a molybdenum exploration and development company (http://biz.yahoo.com/prnews/060222/to282.html?.v=21)
8:42 pm - PR Newswire

UPDATE - Barrick posts higher profit on strong gold prices (http://us.rd.yahoo.com/finance/external/reuters/SIG=11vg30000/*http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh0940 4_2006-02-22_23-50-07_n22342947_newsml)

[Scorpio]

On PAAS,

More production + lower costs + higher silver prices = Losses ??????

This is why I continue to believe the Jr's are the way to go. Don't have all the baggage. I have PAAS because fiat will flow to them.

They did replace all mined ounces in exploration + added to reserves.

All silver is unhedged, and they are debt free.
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In 2005, the loss included a non-cash write-down of the carrying value of the La Colorada silver mine in Mexico. Very high water inflows and the resulting pumping costs appear likely to render the deeper portion of La Colorada mineralization unrecoverable, thus decreasing the mine's ore reserves and carrying value. Excluding the write down, net earnings for the fourth quarter were $0.15 million or nil per share, including a $6.2 million charge to earnings for commodity and foreign-currency contracts. In 2004, earnings included a gain on the sale of the Company's 20% interest in the Dukat mine in Russia for $20.1 million. Consolidated revenue for the quarter was $37.9 million versus $30.0 million in 2004 due to higher production levels and higher metal prices.

or earnings of $1.1 million excluding the non-cash write-down of the La Colorada mine and including an $8.2 million charge to earnings for commodity and foreign-currency contracts.

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What is this major hit due to commodity and foreign currency. Didn't anyone over there plan for the dollar rebound? Hmmmmm, and what is this on commodities.............are they trying to hedge fuel costs or?????

[HistoryStudent]

On PAAS,

More production + lower costs + higher silver prices = Losses ??????

This is why I continue to believe the Jr's are the way to go. Don't have all the baggage. I have PAAS because fiat will flow to them.

They did replace all mined ounces in exploration + added to reserves.

All silver is unhedged, and they are debt free.
--------------------------------------------------------------------

In 2005, the loss included a non-cash write-down of the carrying value of the La Colorada silver mine in Mexico. Very high water inflows and the resulting pumping costs appear likely to render the deeper portion of La Colorada mineralization unrecoverable, thus decreasing the mine's ore reserves and carrying value. Excluding the write down, net earnings for the fourth quarter were $0.15 million or nil per share, including a $6.2 million charge to earnings for commodity and foreign-currency contracts. In 2004, earnings included a gain on the sale of the Company's 20% interest in the Dukat mine in Russia for $20.1 million. Consolidated revenue for the quarter was $37.9 million versus $30.0 million in 2004 due to higher production levels and higher metal prices.

or earnings of $1.1 million excluding the non-cash write-down of the La Colorada mine and including an $8.2 million charge to earnings for commodity and foreign-currency contracts.

-------------------------------------------------------------

What is this major hit due to commodity and foreign currency. Didn't anyone over there plan for the dollar rebound? Hmmmmm, and what is this on commodities.............are they trying to hedge fuel costs or?????


So right you are. Too many BIG companies playing with HEDGES going the wrong way.