Resource Stock Roundup:Monday, June 01st, 2009
Jun 1st, 2009 | By Doug Casey | Category: Gold MarketThe junior bourse continued to gain traction, while the bigger board took a breather during Friday trading on the Canadian markets. For the tale of the tape, the TSX Exchange gave back 0.22%, while the TSX Gold Index tacked on 0.5% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, rallied 1.71% with the advancers beating out the decliners by a 528 to 358 margin on a robust 226 million shares traded.
Great Western Minerals Group is riding the rare earth train by announcing that it has applied for a new mining license and that its updated feasibility study for the Steenkampskraal underground mine in the Western Cape, South Africa, originally due by the end of March, is in progress. Great Western added C$0.03 to close at C$0.15.
Copper Ridge Explorations has been put out of its financial misery by inking a subscription and distribution agreement with Platoro West Holdings. Platoro will take down up to 100,000,000 shares of Copper Ridge at a price of C$0.03 per share. The move will give Platoro control of Copper Ridge and its assets. Copper Ridge closed up C$0.01 at C$0.035.
This may be the biggest head fake in modern stock market history but the usual quiet summer time trading is showing no signs of emerging; at least not yet. We shall see what Monday trading has in store.
Source: Resource Stock Roundup:Monday, June 01st, 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.