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To: LoneClone who wrote (72345)	12/13/2010 9:15:07 AM
From: LoneClone	Respond to of 194002

UPDATE 1-HudBay Minerals sees 2011 output at this year's levels reuters.com Mon Dec 13, 2010 6:50am EST * Sees 2011 gold production at 95,000-120,000 ounces * Sees '11 copper production at 40,000-55,000 tonnes * Sees '11 zinc output at 70,000-90,000 tonnes Dec 13 (Reuters) - Canada's HudBay Minerals Inc (HBM.TO) (HBM.N) said it sees 2011 gold, copper and zinc production to remain around this year's estimated levels. HudBay, said it expects to produce 95,000-120,000 gold equivalent ounces, while copper production is forecast at 40,000-55,000 tonnes. The company said zinc production next year will range from 70,000-90,000 tonnes. HudBay said in November it expects to produce 100,000 ounces of gold, around 50,000 tonnes of copper and about 80,000 tonnes of zinc in 2010. The company set its 2011 exploration budget at $59 million and capital expenditure budget at $289 million, including about $163 million at Lalor project in the western Canadian province of Manitoba. In August, the company decided to move its Lalor project into construction after discovering more gold and copper deposits on the property. Shares of the Toronto Ontario- based company closed at C$18.89 on Friday on the Toronto Stock Exchange. (Reporting by Aftab Ahmed in Bangalore; Editing by Roshni Menon) (aftab.ahmed@thomsonreuters.com; within U.S. +1 646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: aftab.ahmed.reuters.com@reuters.net))

To: LoneClone who wrote (72345)	12/13/2010 11:29:16 AM
From: LoneClone	1 Recommendation Read Replies (1) \| Respond to of 194002

Gold May Beat Silver, Lifting Ratio by as Much as 20%: Technical Analysis By Nicholas Larkin - Dec 12, 2010 4:00 PM PT bloomberg.com Gold May Outperform Silver An ounce of gold bought as little as 46.6 ounces of silver in London on Dec. 7. Photographer: Andrew Harrer/Bloomberg Gold may outperform silver, lifting the ratio between the two metals by as much as 20 percent, according to technical analysis by Societe Generale SA. The attached chart shows the ratio of gold to silver steadied after dropping as low as 46.6 last week, near a two- year channel support line and the lows of 2008 and 1999. The second chart shows the ratio may climb to between about 56 and 58, which are retracement levels of the decline from June that are singled out in so-called Fibonacci analysis. “The gold-silver ratio reached an important support at 47.5/46,” said Stephanie Aymes, a cross-commodity technical analyst with Societe Generale in London. “Gold will outperform silver to 56/58.” An ounce of gold bought as little as 46.6 ounces of silver in London on Dec. 7, the least in almost four years. Precious metals gained this year on demand for a protection of wealth and an alternative to currencies. Some investors betting that silver may benefit from an economic recovery pushed the metal’s 2010 advance to 70 percent, outperforming gold’s 26 percent gain. Silver is used more in industry than gold. The ratio’s 14-day relative strength index last month rebounded from a two-year falling trend support line and has been “posting bullish divergences,” Aymes said. The index fell to 14.7 on Nov. 8 and was at 36.66 on Dec. 10. Some analysts view a level of 30 as an indication of possible gains. Gold for immediate delivery reached a record $1,431.25 an ounce on Dec. 7 and traded at $1,386 at the end of last week. Silver last week climbed to a 30-year high of $30.7025 an ounce and was last at $28.6712. The ratio was at 48.3054 on Dec. 10. In technical analysis, investors and analysts study charts of trading patterns and prices to predict changes in a security, commodity, currency or index. Fibonacci analysis is based on the theory that prices tend to drop or climb by certain percentages after reaching a high or low. To contact the reporter on this story: Nicholas Larkin in London at nlarkin1@bloomberg.net. To contact the editor responsible for this story: Claudia Carpenter at ccarpenter2@bloomberg.net.