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Resource Stock Roundup:Tuesday, June 30th, 2009

Doug Casey — Tue, 30 Jun 2009 20:00:45 +0000

The bigger board resource stocks continued to ascend to higher levels but the more junior exploration stocks fell victim to a lack of buyers during Monday’s session on the Canadian Markets. For the tale of the tape, the TSX Exchange added 0.84%, while the TSX Gold Index tacked on 0.4% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, lost 0.54% with the decliners edging out the advancers by a 443 to 342 margin on 161 million shares traded.

North American Tungsten is temporarily suspending production form its CanTung tungsten mine in the Northwest Territories starting October 15 due to declining prices. North American ended the day down C$0.035 at C$0.125.

Fortress Minerals cut 40 metres of 3.68 grams gold per tonne at its Amy prospect in Russia. Fortress ended the day up C$0.03 at C$0.35.

Centamin Egypt has poured its first gold from the Sukari Hill gold mine in Egypt. The upstart miner is expected to produce 200,000 ounces of gold per year over a 15-year mine life. Centamin ended the day up C$0.02 at C$1.69.

B2Gold continued to ramp up its exploration presence in Nicaragua by optioning Radius Gold’s ground in that country. The company also announced a bought deal financing comprising 33.34 million shares at C$0.75 each. B2Gold closed down C$0.03 at C$0.77, while Radius added C$0.015 at C$0.20.

Shares of Sacre-Coeur Minerals added C$0.21 to close at C$0.91 after the junior reported that it is assessing the alluvial gold potential of its projects in Guyana.

Looks like the summer time doldrums may be taking hold of the exploration stocks. We will see what Tuesday trading has in store.

Source: Resource Stock Roundup:Tuesday, June 30th, 2009

Resource Stock Roundup: Wednesday, January 28th, 2009

Doug Casey — Wed, 28 Jan 2009 19:20:05 +0000

The Canadian budget came out with the expected batch of economic stimulus and that helped sustain the mini-rally during Tuesday trading on the Canadian markets. For the tale of the tape, the TSX Exchange tacked on 1.19%, while the TSX Gold Index gave back 1.3% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.08% with the advancing issuers equaling the decliners at 340 apiece on 117 million shares traded.

The takeover front in the junior exploration space may finally be starting to heat up as B2Gold has tabled a rival bid to Linear Gold’s offer for Central Sun Mining (AMEX:SMC). The B2Gold proposal calls for exchanging 1.28 B2Gold shares for each Central Sun share. That pegs the price at around C$0.65. Linear, which just announced a C$15 million bought deal financing at C$1.15 per share, has offered 0.4 Linear shares for each Central Sun share held. Central Sun’s board of directors has unanimously determined that the B2 transaction is superior to the Linear transaction and unless Linear ups the bid, the board will go with B2Gold. Linear ended the day down C$0.14 at C$0.95, Central Sun added C$0.18 to C$0.63 and B2Gold gained C$0.08 at C$0.59.

Falling molybdenum prices have prompted Thompson Creek Metals (NYSE:TC) to reduce molybdenum production in 2009 to 20 million to 24 million pounds from the previous estimate of 31.5 million to 34 million pounds. Thompson ended the day down C$0.67 at C$4.92.

The broader markets appear poised to march at least a little higher with Canada’s registered retirement savings plan season starting to hit full stride. We will see what Wednesday trading has in store.

Source: Resource Stock Roundup: Wednesday, January 28th, 2009