Resource Stock Roundup: Friday, March 6th, 2009
Mar 6th, 2009 | By Doug Casey | Category: Financial NewsIt was another sea of red during Thursday trading on the Canadian markets with only the gold guys attracting buy side interest. For the tale of the tape; the TSX Exchange fell 2.38%, while the TSX Gold Index added 1.1% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, gave back 0.15% with the decliners swamping the advancers by a 435 to 300 margin on 105 million shares traded.
Excellon Resources and Silver Eagle Mines are looking to wed in a transaction that would see Silver Eagle shareholders getting 0.2704 of an Excellon share for each Silver Eagle share held. Excellon ended the day up C$0.01 at C$0.235, while Silver Eagle lost C$0.025 at C$0.08.
Despite cutting 15 meters of 12.03% U308 at its 90 percent owned Midwest NorthEast uranium property in Saskatchewan, shares of Hathor Exploration continued to fall, dropping C$0.13 to close at C$2.16.
The PDAC Conference in Toronto is now officially over with most of the talk revolving around pending deals. We will see what Friday trading has in store.
Source: Resource Stock Roundup: Friday, March 6th, 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.