Resource Stock Roundup: Monday, December 8th, 2008
Dec 8th, 2008 | By Doug Casey | Category: Financial NewsThe Canadian markets ended a terrible trading week by posting mixed results during Friday trading. For the tale of the tape, the TSX Exchange added 0.74%, while the TSX Gold Index gave back 0.4% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 1.94% with the declining issuers outpacing the advancers by a 455 to 296 margin on volume of 144 million shares traded.
High Desert Gold is continuing to put out exploration results despite the fact that shareholders have a C$0.19 per share takeover offer on one hand and a C$0.27 per share purchase offer from the company itself. High Desert re-analyzed gold assays from the drill core at its Canasta Dorada project in Mexico with results coming in 42% to 151% higher. The results are still generally less than 1 gram gold per tonne. High Desert ended the day unchanged at C$0.24.
Eurasian Minerals reported that 11 metres grading 5.48% zinc, 7.45% lead ad 79.56 grams silver per tonne were hit by the owner and operator of its Balya royalty property in Turkey. Eurasian ended the day down C$0.03 at C$0.51.
The junior bourse closed a new multi-year lows and looks set to test the 650 point mark. We will see what Monday trading has in store.
Source: Resource Stock Roundup: Monday, December 6th, 2008
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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.