Resource Stock Roundup: Friday, June 12th, 2009
Jun 12th, 2009 | By Doug Casey | Category: Gold MarketThe Canadian markets continued to fire on almost all cylinders with only the gold sector bucking the positive trend. For the tale of the tape, the TSX Exchange added 1.10%, while the TSX Gold Index lost another 0.8% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, gained 0.52% with the advancers swamping the decliners by a 498 to 389 margin on a robust 233 million shares traded.
Oro Gold Resources (CVE:OGR)tagged 30 metres grading 6.3 grams gold per tonne from the latest batch of results at its Taunus target on its Trinidad property in Mexico. Oro ended the day down C$0.07 at C$0.83.
It was a good day for shareholders of Olympus Pacific Minerals (OTC:OLYMF) as the miner poured 2,574 ounces of gold from its Vietnam operation in the month of May. Olympus ended the session up C$0.045 at C$0.295.
Shares of US Gold (AMEX:UXG) added C$0.15 to close at C$2.93 after the company tabled drill results from its El Gallo project in Mexico’s Sinaloa state. Highlights included 1,082.4 grams silver per tonne over 31.7 metres and 352.7 grams silver per tonne over 43.7 metres
Exploration drill results are starting to attract buyers and that is good news for the cash-starved junior exploration companies. We shall see what Friday trading has in store.
Source: Resource Stock Roundup: Friday, June 12th, 2009
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Doug Casey is a contrarian investor, sought-after public speaker and author of several books. His work "Crisis Investing" held the position of # 1 bestseller on the New York Times list for 26 consecutive weeks. Doug's unusual views on the economy - and just about everything else - have gained a huge following in the investment community, and it certainly helps that his stock recommendations of undervalued junior exploration companies have made his subscribers millions. Now in its 27th year, Doug's monthly newsletter, the International Speculator, is one of the most established and esteemed publications on gold, silver and other natural resource investments. Together with the Casey Energy Speculator, it covers a broad range of carefully selected stocks with the very real potential of double- and triple-digit returns within 12 to 24 months.