Resource Stock Roundup:Wednesday, July 01st, 2009
Jul 1st, 2009 | By Doug Casey | Category: Gold MarketInvestors heading for the exits ahead of the Canada Day holiday as a sea of red engulfed the Canadian Markets during Tuesday’s session. For the tale of the tape, the TSX Exchange down 0.97%, while the TSX Gold Index fell 2.8% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, lost 1.23% with the decliners edging out the advancers by a 413 to 361 margin on 151 million shares traded.
Shares of Denison Mines (AMEX:DNN) failed to get a lift after reporting a drill intercept of 55% U308e over 6 metres from its Phoenix East target on the Wheeler River property in northern Saskachewan. Denison ended the day down C$0.04 at C$1.93.
Shares of Western Prospector Group added C$0.18 to close at C$0.53 after the company reported that 69 per cent of its shares were tenders to the C$0.56 per share offer from CNNC International.
With holidays in both Canada and the United States taking place over the next few days, trading action is expected to remain on the light side. We will see what Thursday trading has in store.
Source: Resource Stock Roundup:Wednesday, July 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.