Resource Stock Roundup Wednesday, October 8, 2008
Oct 8th, 2008 | By Doug Casey | Category: Financial News, Gold MarketThe blood bath continued during Tuesday trading on the Canadian Markets, as investors ran for the exits in every sector but gold. For the tale of the tape, the TSX Exchange lost 3.92%, while the TSX Gold Index bucked the trend by gaining 1.2% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, dropped 3.50% with the declining issuers swamping the advancers by a 645 to 348 margin on good volume of 167 million shares traded.
San Gold (SGR) reported a 1.8 metre intercept running 103 grams gold per tonne at the Hinge No. 4 zone on its Rice Lake project in Manitoba. San Gold ended the day down C$0.03 at C$0.90.
Lucara Diamond (LUC) and partner Motapa Diamonds (MTP) recovered a 23.4 carat, type IIA diamond in the initial stage of phase 2 bulk sampling at the Mothae project in Lesotho. Lucara ended the day down C$0.10 at C$0.40, while Motapa closed up C$0.085 at C$0.355.
Gold-Ore Resources added C$0.03 to close at C$0.23 after reporting that is Bjorkdal mine is Sweden produced 2,692 ounces of gold in September.
Great Panther Resources (GPR) posed record production of 444,686 ounces of silver equivalent from its operations in Mexico. Great Panther ended the day down C$0.045 at C$0.45.
The junior bourse is another step closer to its 2002 low with the sell side volume increasing as investors run for the exits. We will see what Wednesday trading has in store.
Source: Resource Stock Roundup Wednesday, October 8, 2008
Advertisement
Find out what stocks they’re buying right now... and how you can profit from what they know!
(Some folks have already had the chance to see gains of over 40% after reading this report, so don't wait!)
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.