"The history of Eureka lies in its future." - Lambert Molinelli, 1878


The author/editor of the Eureka Miner owns common shares of local mining stocks, General Moly (GMO) and Newmont Mining (NEM); together with benchmark miner Freeport-McMoRan (FCX). Please do your own research, markets can turn on you faster than a feral cat.

Wednesday, December 23, 2009

The Colonel Wishes You A Merry Christmas!

***BREAKING NEWS*** General Moly closed the day with a greater than 10% gain at $2.14, the Eureka Miner's Grubstake portfolio jumped 2.13% to close at $1,280,939.41. Thanks Santa!

Morning Miners!

It is 7:38 AM and time for the ole Colonel to wish you all a very Merry Christmas! We're going to pull the plug on the break room coffee pot today, tomorrow is just a half-day on the exchanges. Looks like Santa is being good to miners, no sense in pressing our luck. Gold has bounced to $1093.0 on the COMEX halting its slide, Barrick is over $40 again and General Moly is only 3 pennies away from $2.

If the miner rally continues today, the readers (yup, that's you) have stuffed nearly $270,000 in their Christmas stocking from a million dollar investment in Eureka's future last May. A 27% gain for a little more than a half-year's work is not all bad. If you are new to the Report, the Eureka Miner's Grubstake portfolio is a collection of 12 stocks that directly or indirectly influence Eureka County. You can check it out here:

The Eureka Miner's Million Dollar Grubstake

The Colonel will be back bright and early Monday, December 28.

Put a little Christmas brandy in your coffee and let's walk the walk:

4-WD is OFF - the VIX or "fear index" remains below 25; smoother road market conditions expected to continue (what's this?)

Yellow light is ON for possible adverse regulation/legislation: Cortez Hills & mercury emissions

Otherwise, all lights are green on the Eureka Outlook Dashboard (upper right, what's this?)

Oil is up 2.00 in early trading to $76.40 (February contract, most active); Gold is up $6.3 to $1093.0 (February contract, most active); Silver is up 0.150 to $17.180 (March contract); Copper is up $0.0430 to $3.1810 (March contract); Molybdenum is steady at $11.62.

The DOW is down 11.79 points to 10452.31; the S&P 500 is down 0.13 points to 1117.89. The miners are stuffing their Christmas stockings:

Barrick (ABX) $40.26 up 3.52%
Newmont (NEM) $48.10 up 2.90%
General Moly (Eureka Moly, LLC) (GMO) $1.97 up 1.55%
Freeport McMoran (FCX) $80.22 up 2.26% (a bellwether mining stock spanning gold, copper & molybdenum)

The Steels are mixed, (a "tell" for General Moly):

Nucor (NUE) $45.66 up 0.71% - domestic steel manufacturing
ArcelorMittal (MT) $44.36 down 0.54% - global steel producer
POSCO (PKX) $128.63 up 1.18% - South Korean integrated steel producer

The Eureka Miner's Grubstake Portfolio is is up 1.17% to $1,269,003.97 (what is this?).


Colonel Possum

Headline Photograph by Mariana Titus

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