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

DISCLOSURE

The author/editor of the Eureka Miner owns common shares of local mining stocks, McEwen Mining (MUX) and General Moly (GMO). 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?).

Cheers,

Colonel Possum

Headline Photograph by Mariana Titus

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