Contrarian Stock Market Investing News - Featuring Bargain Stocks » Anfield Ventures http://www.contrarianprofits.com Access market-beating ideas from the world's top investment gurus on stock market investing, the gold market, ETFs, Forex trading and real estate values. Mon, 10 May 2010 15:10:45 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Resource Stock Roundup: Wednesday, April 22nd, 2009 http://www.contrarianprofits.com/articles/resource-stock-roundup-wednesday-april-22nd-2009/15813 http://www.contrarianprofits.com/articles/resource-stock-roundup-wednesday-april-22nd-2009/15813#comments Wed, 22 Apr 2009 20:55:37 +0000 Doug Casey http://www.contrarianprofits.com/?p=15813 A 0.25 per cent cut in interest rates by the Bank of Canada helped propel the big board issues on the Canadian Markets into the black during Tuesday trading. For the tale of the tape, the TSX Exchange climbed 1.33%, while the TSX Gold Index fell 2.6% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, gave back 0.11% with the decliners beating out the advancers by a 349 to 325 margin on volume of 145 million shares traded.

Teck Cominco (NYSE:TCK) posted a first quarter profit ofC$241 million or C$0.50 per share. That is a 30 percent drop from the C$345 million or C$0.78 per share in the same period a year earlier. Much more importantly, the company entered…

]]> A 0.25 per cent cut in interest rates by the Bank of Canada helped propel the big board issues on the Canadian Markets into the black during Tuesday trading. For the tale of the tape, the TSX Exchange climbed 1.33%, while the TSX Gold Index fell 2.6% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, gave back 0.11% with the decliners beating out the advancers by a 349 to 325 margin on volume of 145 million shares traded.

Teck Cominco (NYSE:TCK) posted a first quarter profit ofC$241 million or C$0.50 per share. That is a 30 percent drop from the C$345 million or C$0.78 per share in the same period a year earlier. Much more importantly, the company entered into a commitment letter to amend its existing $4-billion senior term loan facility and $5.81-billion senior bridge loan facility. The $4.4 billion has been deferred and the $3.5 billion of the Bridge Facility due October 29, 2009 has been stretched out to October 30, 2011. Teck ended the day up C$3.25 at C$12.36.

Anfield Ventures jumped ahead of the commodity curve by purchasing all of the outstanding shares of Mayaniquel, S.A. from BHP Billiton (NYSE:BHP) for $2.5 million and the issuance of a 1.5% net smelter royalty. Mayaniquel holds 21 mineral exploration licenses totaling approximately 83,430 hectares in the nickel laterite belt that surrounds Lake Izabal adjacent to the HudBay Mineral’s Fenix project in Guatemala. Anfield also announced plans to sell 10.15 million shares at a price of C$0.35 per share to Lumina Capital Limited Partnership, an investment partnership held principally by Vancouver mining entrepreneur Ross Beaty. Anfield ended the day up C$0.685 at C$1.05.

Shares of Salazar Resources added C$0.13 to C$0.48 after the junior announced that it received official notice from the Minister of Mines and Petroleum of Ecuador authorizing the restart of its field operations.

Despite facing weakening economic data, the current market clearly does not want to go down. Can it continue to swim against the tide? We shall see what Wednesday trading has in store.


Source: Resource Stock Roundup: Wednesday, April 22nd, 2009

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