For the tale of the tape, the TSX Exchange lost 0.96%, while the TSX Gold Index plunged 5.9% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 1.79% with the declining issuers beating out the advancers by a 587 to 348 margin on volume of 138 million shares traded.

It was a good day for shareholders of Sinchao Metals (CVE:SMZ) as the company recently tallied a 188.55 metre drill intercept running 2.02% copper on the Breccia zone at the Sinchao property in Peru. The junior ended the day up C$0.135 at C$0.34.

A sign of the times, Birch Mountain Resources (AMEX:BMD) reported that it is imperative to pursue an immediate sale of the company to unlock maximum value for its shareholders because its share price is below its underlying value. Birch Mountain added C$0.07 at C$0.335.

Ontex Resources (TSE:ONT) reported a 21 metre intercept averaging 17.41 grams gold per tonne at its Brookbank gold deposit in Ontario. Nobody cared as Ontex ended the day down C$0.01 at C$0.32.

Well, there appears to be no end in sight for an end to the current bear market but remember it is always darkest before the dawn. We will see what Thursday trading has in store.

Source: Resource Stock Roundup: Thursday, July 24th, 2008