Silver Rises On ECB News
However, on Thursday it was quite a different story as both gold and the euro rose on upbeat news — including the decision to hold interest rates steady — from the ECB. Also boosting sentiment was news of a positive Spanish bond auction and positive trade data from China.
March silver on the COMEX ended floor trading Thursday near the session high at $30.90, with gains of $0.65. The New York spot market closed with silver at $30.86, up $0.50.
Company newsSilver Bear Resources (TSX:SBR) received a four-year extension for its exploration license for the Mangazeisky silver property in Yakutia, Russia. It allows the company to continue exploring until December 31, 2016. The company has also applied for a mining license on the Vertikalny portion of its territory. Silver Bear said it continues to consult with Russian authorities on the best way to obtain mining rights for the largest possible mineral resource base. Tinka Resources (TSXV:TK) resumed drilling at its Colquipucro and Ayawilca projects in West-Central Peru. NSX Silver (TSXV:NSY) commenced phase-two drilling at its Dios Padre silver project in Sonora, Mexico. The company's objectives are to expand the mineralized zone at depth following the plunge of the mineralized breccia intrusive body and to support a NI 43-101 compliant resource estimate. NSX also announced plans to conduct a trenching program at the Heurigo silver anomaly, which is located 5 kilometers from Dios Padre. The management of Apogee Silver (TSXV:APE) was encouraged by the level of support expressed for its Bolivia-based Pulacayo project during a community consultation meeting. The company said none of the concerns expressed are issues that cannot be reasonably addressed in due course. This important milestone allows the company to conclude its application for a new environmental permit for expanded production as well as the construction of a processing and tailings storage facility at Pulacayo, the press release states.
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