Resource Stock Roundup: Monday, February 9th, 2009
Feb 9th, 2009 | By Doug Casey | Category: Financial NewsPoor employment data out of both the United States and Canada failed to stymie investor sentiment as the Canadian markets rallied for a third straight day during Friday trading. For the tale of the tape, the TSX Exchange surged 1.66%, while the TSX Gold Index rallied 1.4% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 1.24% with the advancing issuers edging out the decliners by a 390 to 315 margin on 133 million shares traded.
Silverstone Resources sold 1,669,000 ounces of silver in 2008. The silver-gold royalty company recently purchased all of the payable gold and silver from the Minto mine in the Yukon and received advance payments on approximately 3,700 ounces of payable gold and 33,000 ounces of payable silver from the Minto mine as at Dec. 31, 2008, which will be recorded in the first quarter. Silverstone ended the day up C$0.09 at C$0.94.
Coming off of more hot results from its Caspiche gold copper project in Chile, Exeter Resources (AMEX:XRA) locked in a bought deal financing of C$25.2 million by issuing 10.5 million shares at C$2.40 a piece. Exeter ended the day down C$0.07 at C$2.80.
Finally a flash from the bull market past with Can Alaska Uranium reporting grab samples of up to 46.9 grams gold, 19.7 grams platinum and 20.8 grams palladium on its Poplar project in the Athabasca Basin of Saskatchewan and its share price surged C$0.045 to C$0.17.
Speculation is that the United States will unveil a very positive economic stimulus package on Monday. After a three-day rally, if the market is disappointed with the outcome, look out below. We will see what Monday trading has in store.
Source: Resource Stock Roundup: Monday, February 9th, 2009
Advertisement
But shouldn't a high-yielding checking account be a must-have too? At EverBank®, we believe that your money should earn a great rate—including the money in your checking account.
That's why we created our FreeNet© Checking Account. You'll earn a high yield—at opening and as long as you have your account. Plus, you'll be entitled to all of the extras a FreeNet account offers. Optional Online Bill Pay. Free online account management—view your EverBank and non-EverBank accounts. Unlimited check writing—and so much more.
Come to EverBank and experience the difference. You'll be amazed by how quickly our FreeNet account becomes a must-have for you.Visit us
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.