It was a day of profit taking during Wednesday trading on the Canadian Markets. For the tale of the tape; the TSX Exchange lost 1.40%, while the TSX Gold Index dropped 1.80% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 0.38% with the decliners beating out the advancers by a 417 to 404 margin on 182 million shares traded.
Shares of Underworld Resources soared C$0.36 to close at C$1.41 on good volumes after the junior tabled results from the first three holes from the 2009 drilling program from the Golden Saddle zone at the White Gold property. Highlights included 3.39 grams gold per tonne over 104 metres.

Golden Band Resources got ministerial approval for its La Ronge gold project in Saskatchewan. The junior closed at C$0.25 for a C$0.04 gain.

It was a rough day for Uranium One as the miner reported that Kazakhstan authorities are conducting an investigation into certain of the activities of Kazatomprom, the Kazakh state-owned uranium mining company. Uranium One’s Kazakh assets were acquired in November, 2005, from a group of Kazakh investors by UrAsia Energy, which became a subsidiary of Uranium One in April, 2007. Kazatomprom owns 30% of the Kyzylkum joint venture. Uranium One ended the day down C$1.30 at C$1.99.

The energy and information technology sectors of the index were the only ones to end the day in the black. We shall see what Thursday trading has in store.

Source: Resource Stock Roundup:Thursday, May 28th, 2009