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Resource Stock Roundup:Tuesday, June 02nd, 2009

Doug Casey — Tue, 02 Jun 2009 19:20:23 +0000

The Canadian Markets continued to surge like a runaway train during Monday trading. For the tale of the tape, the TSX Exchange added 2.21%, while the TSX Gold Index gave back 2.6% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, rallied 1.46% with the decliners beating out the advancers by a 468 to 443 margin on a robust 259 million shares traded.
Goldcorp is the latest major to go to the market looking to top up the till. The company announced a $750 million offering of convertible notes due 2014. The terms are yet to be reported. Goldcorp ended the day down C$2.20 at C$40.95.

Shares of Helio Resource added C$0.02 to close at C$0.52 after the junior announced two new gold zones on its Porcupine target in Tanzania. Highlights from the latest results included 72 metres running 0.6 gram gold per tonne.

Alamos Gold pulled a record intercept from the Mulatos pit in Mexico and announced that it has increased its exploration budget for 2009 to $10 million. The record results came in at 7.81 grams gold per tonne over 141.77 metres. Alamos ended the day down C$0.04 at C$9.71.

The first trading day of June was pretty much just like the month of May where investors gobbled up resource stocks. We shall see what Tuesday trading has in store.

Source: Resource Stock Roundup:Tuesday, June 02nd, 2009

Resource Stock Roundup: Tuesday, April 28th, 2009

Doug Casey — Tue, 28 Apr 2009 18:53:20 +0000

The Canadian Markets started the trading week in a sour mood with the bears coming out of retirement to rain on the bulls’ parade during Monday’s session.

For the tale of the tape, the TSX Exchange fell 1.62%, while the TSX Gold Index lost on 1.8% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, gave back 0.38% with the decliners beating out the advancers by a 439 to 355 margin on volume of 159 million shares traded.

Indian mining company Lakomasko BV has purchased 9.5 percent of HudBay Minerals, which announced late last week that it is evaluating its strategic options. HudBay ended the day up C$0.77 at C$8.35.

In the midst of a merger, Motapa Diamonds and Lucara Diamond recovered 715.79 carats from a 15,390 dry tonnes sample at the Mothae project in Lesotho. The sample produced 48 stones greater than two carats, 13 stones greater than five carats and one stone greater than 20 carats. Motapa ended the day up C$0.06 at C$0.31, while Lucara closed at C$0.50 for a C$0.02 gain.

Rubicon Minerals (AMEX:RBY) continued to hit the goodies at its F2 zone on the Phoenix gold project in Ontario’s prolific Red Lake mining camp. The latest results included 3.62 ounces of gold per ton over 9.8 feet and 6.96 ounces of gold per ton over 3.3 feet. Rubicon ended the day up C$0.05 at C$1.90.

Not to be outdone, Alamos Gold cut 12.2 metres grading 43.7 grams gold per tonne at its Mulatos gold project in Sonora, Mexico. Alamos ended the day up C$0.03 at C$8.25.

The junior board continues to straddle the crucial 1,000 point mark. Will it hold? We shall see what Tuesday trading has in store.

Source: Resource Stock Roundup: Tuesday, April 28th, 2009

Resource Stock Roundup: Thursday, March 12th, 2009

Doug Casey — Thu, 12 Mar 2009 16:02:42 +0000

It was green arrows across the board during Wednesday’s session on the Canadian Markets as optimism that the financial system will survive ruled the day. For the tale, of the tape, the TSX Exchange surged 1.66%, while the TSX Gold Index added 6% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, gained 0.65% with the advancers beating out the decliners by a 360 to 323 margin on 109 million shares traded.

Aurizon Mines (AMEX:AZK) posted a profit of $4.9 million or $0.03 per share in 2008 with gold production in the fourth quarter hitting 38,363 ounces. Aurizon ended the day up C$0.22 at C$4.42.

Not to be outdone, Alamos Gold earned $29.38 million or $0.31 per share in 2008 with gold sales reaching nearly $133 million. Alamos ended the session up C$0.66 at C$8.05.

Khan Resources tabled an internal rate of return of 29.1% for its Dornod uranium project in Mongolia. The study uses a $65 per pound U308 price and envisions a 3,500 tonne per day operation for a period of 15 years producing 3 million pounds of U308 per year. Khan ended the day up C$0.08 at C$0.39.

Shares of Rainy River added C$0.09 to close at C$1.85 after the company reported drill intercepts of 5.46 grams gold per tonne over 7.5 metres and 5.69 grams gold per tonne over 3.7 metres on its Target 1 in Ontario.

That’s two strong days in a row for the broader markets so perhaps the over due rally is now underway. That said, more weak economic data should be forthcoming and that may put a damper on the current mood. We will see what Thursday trading has in store.

Source: Resource Stock Roundup: Thursday, March 12th, 2009