Resource Stock Roundup…Wednesday, November 05th, 2008
Nov 5th, 2008 | By Doug Casey | Category: Financial NewsIt was green lights across the board during Tuesday trading on the Canadian markets as investors placed bets that the conclusion of the United States presidential election would prompt a stock rally. For the tale of the tape, the TSX Exchange surged 4.07%, while the TSX Gold Index added 11.5% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, climbed 4.24% with the advancing issuers swamping the decliners by a 560 to 306 margin on volume of 176 million shares traded.
Hathor Exploration (CVE:HAT) came out with ore stellar numbers from its Roughrider zone on the Midwest NorthEast property in northern Saskatchewan. The latest included 23 metres running 11.23% U308. Hathor ended the day up C$0.05 at C$2.29, while 10% owner Terra Ventures was unchanged at C$0.43.
Sherwood Copper (CVE:SWC) discovered a new high grade copper-gold zone at its Minto Mine in the Yukon. Located only 800 metres from the open pit and 200 metres from the proposed area 2 open pit area, the Copper Keel discovery yielded 2.07% copper and 0.86 gram gold per tonne over 24.5 metres. Sherwood ended the day at C$2.07 for a C$0.38 gain.
Romarco Minerals (CVE:R) cut 4.9 grams gold per tonne over 98 metres at its Haile Mine in South Carolina. The news sent Romarco shares up C$0.015 at C$0.165.
Gammon Gold (NYSE:GRS) produced 34,096 ounce of gold and just over 1.37 million ounce of silver from its Ocampo operation in Mexico during the third quarter. The company, which added C$0.81 to close at C$4.51, also discovered a new underground vein, dubbed San Amado.
It was a good day for shareholders of Iamgold as the mid-tier gold miner added C$0.66 to close at C$4.60 on the rising gold price.
That’s six winning sessions in a row for the junior bourse with buyers starting to line up on the more beaten down speculative issues. We will see what Wednesday trading has in store.
Source: Resource Stock Roundup…Wednesday, November 05th, 2008
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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.