Resource Stock Roundup:Wednesday, November 26th, 2008
Nov 26th, 2008 | By Doug Casey | Category: Financial NewsAfter two strong sessions, the Canadian Markets took a breather during Tuesday trading to digest the recent gains. For the tale of the tape, the TSX Exchange added a modest 0.02%, while the TSX Gold Index fell back 0.7% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, lost 0.39% with the declining issuers outpacing the advancers by a 445 to 314 margin on volume of 145 million shares traded.
Bravo Venture Group cut 24.9 grams gold and 1,042.9 grams silver per tonne at its Homestake Ridge project in northwestern British Columbia. Bravo ended the day up C$0.04 at C$0.48.
Not as well received was Dynamite Resources’ 75.89 metres running 2.86 grams gold per tonne and 0.69% copper at its Upper Scorn Ridge target on the Mike Lake project in west-central Yukon. Shareholders are concerned about the continuity because Dynamite ended the day down C$0.02 at C$0.04.
Knight Resources’ tagged 3.21% nickel and 1.32% copper over 28.28 metres at its West Raglan project in northern Quebec but ended the day down C$0.01 at C$0.04.
Hopefully the markets are now moving two steps forward and one step backwards but given the current economic climate I would not want to take that bet. We will see what Wednesday trading has in store.
Source: Resource Stock Roundup:Wednesday, November 26th, 2008
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.