Resource Stock Roundup: Saturday, July 26th, 2008
Jul 26th, 2008 | By Doug Casey | Category: Gold MarketAfter getting beaten down the first four trading days of the week, investors finally elected to do some buying during Friday’s session on the Canadian markets.
For the tail of the tape; the TSX Exchange added 1.31%, while the TSX Gold Index tacked on 1.4% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, gained 0.16% with the declining issuers beating out the advancers by a 443 to 355 margin on volume of 130 million shares traded.
Shares of Roscan Minerals (CVE:ROS) lost C$0.35 to close at C$0.35 after the company announced that it will not proceed with the acquisition of the Prognoz silver project.
Goldsource Mines (CVE:GXS) managed a modest recovery as some optimism that economic coal could still be found on its coal permits of the Border Property near Hudson Bay, Saskatchewan. Goldsource ended the day up C$4.74 at C$8.89.
Equal partners Thundermin Resources (TSE:THR) and Cornerstone Resources (CVE:CGP) continue to hit the goods on the Little Deer property in Newfoundland. The latest results include 2.2% copper over 16.8 metres. Cornerstone ended the day down C$0.01 at C$0.22, while Thundermin added C$0.015 at C$0.29.
The sellers apparently elected to take a rare day off but indications are they will be back. We will see what Monday trading has in store.
Source: Resource Stock Roundup: Saturday, July 26th, 2008
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