Resource Stock Roundup: Monday, April 27th, 2009
Apr 27th, 2009 | By Doug Casey | Category: Stock Market InvestingIt was another quiet Friday news day on the Canadian Markets with investors laying down bets that the worst of the economic news is now behind us.
For the tale of the tape, the TSX Exchange climbed 1.49%, while the TSX Gold Index tacked on 4.4% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 1.91% with the advancers beating out the decliners by a 499 to 313 margin on volume of 152 million shares traded.
Centerra Gold reached an agreement with the government of the Kyrgyz Republic and Cameco (NYSE:CCJ) that resolves all of the existing disputes with respect to the Kumtor gold project. Centerra ended the week up C$1.03 at C$7.26.
Belvedere Resources remained halted for a second straight day. Shares in the nickel player were halted pending news at C$0.12.
The market continues to move higher in the face of weak economic data with the junior bourse breaking the crucial 1,000 point mark. We shall see what Monday trading has in store.
Source: Resource Stock Roundup: Monday, April 27th, 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.