Contrarian Stock Market Investing News - Featuring Bargain Stocks » Baja Mining 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, March 18th, 2009 http://www.contrarianprofits.com/articles/resource-stock-roundup-wednesday-march-18th-2009/15051 http://www.contrarianprofits.com/articles/resource-stock-roundup-wednesday-march-18th-2009/15051#comments Wed, 18 Mar 2009 19:41:28 +0000 Doug Casey http://www.contrarianprofits.com/?p=15051 Equities continued to march higher during Tuesday’s session on the Canadian Markets as investors smell an economic recovery in the making. For the tale of the tape, the TSX Exchange gained 2.06%, while the TSX Gold Index gave back 1.8% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.68% with the decliners beating out the advancers by a 358 to 343 margin on pathetic volume of 90 million shares traded.

Merger mania resumed with Lucara Diamond proposing to marry Motapa Diamonds in an all-share deal that would see Motapa getting 0.9055 of a Lucara share for each Motapa share. The move would consolidate the advanced Mothae project in Lesotho. Lucara ended the day flat at C$0.50, while Motapa added C$0.04…

]]> Equities continued to march higher during Tuesday’s session on the Canadian Markets as investors smell an economic recovery in the making. For the tale of the tape, the TSX Exchange gained 2.06%, while the TSX Gold Index gave back 1.8% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.68% with the decliners beating out the advancers by a 358 to 343 margin on pathetic volume of 90 million shares traded.

Merger mania resumed with Lucara Diamond proposing to marry Motapa Diamonds in an all-share deal that would see Motapa getting 0.9055 of a Lucara share for each Motapa share. The move would consolidate the advanced Mothae project in Lesotho. Lucara ended the day flat at C$0.50, while Motapa added C$0.04 to close at C$0.35.

Shares of Baja Mining jumped C$0.075 to C$0.33 after the company tabled a 12 per cent decrease in capital costs for its Boleo copper-cobalt-zinc-manganese project in Mexico. The new number is $767 million, around $100 million less than the 2008 estimate.

Western Canadian Coal kept the good news rolling by reporting that its Belcourt property in British Columbia hosts 86 million tonnes of proven reserves in two deposits. The potential production profile is four million tonnes per year of metallurgical coal for a 15 year period. Western ended the day up C$0.13 at C$0.57.

Despite signs that the recent rally is running out of gas, investors keep jumping in to buy more of the beaten-down financial stocks. We will see what Wednesday trading has in store.


Source: Resource Stock Roundup: Wednesday, March 18th, 2009

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