Resource Stock Roundup: Thursday, April 23rd, 2009
Apr 23rd, 2009 | By Doug Casey | Category: Financial NewsThe bulls continued to run during Wednesday trading on the Canadian Markets as even lofty oil inventory numbers failed to damper to jubilant mode. For the tale of the tape, the TSX Exchange climbed 0.35%, while the TSX Gold Index tacked on 0.8% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.49% with the advancers beating out the decliners by a 360 to 352 margin on volume of 148 million shares traded.
Vantex Resources cut 0.52 grams gold per tonne over 245 metres at its Galloway project in the Rouyn-Noranda mining district. Vantex ended the day up C$0.01 at C$0.055.
Shares of Salazar Resources continued to move higher after the junior announced that it received official notice from the Minister of Mines and Petroleum of Ecuador authorizing the restart of its field operations. Salazar ended the day up C$0.13 at C$0.61.
Despite a lack of news, Titan Uranium added C$0.095 to close at C$0.47. the company recently tabled drill results from the Border block project in Saskatchewan where Japan Oil, Gas and Metals National can earn a 50-per-cent undivided interest in the project by financing $6-million in exploration over four years.
It was another green day across the board but investors took profits late in the session, which suggests the runup has come too far, too fast. We shall see what Thursday trading has in store.
Source: Resource Stock Roundup: Thursday, April 23rd, 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.