Western Prospector Group reported the China-based CNNC International Limited is offering up C$0.56 in cash for all the outstanding shares of Western. Of interest to CNNC are Western’s uranium assets in Mongolia. Western closed up C$0.16 at C$0.53.

Meanwhile, Ivernia is being offered C$0.15 per share in cash from London-based Griffin Mining. Ivernia ended the session up C$0.035 at C$0.155.

Greystar Resources came out with a prefeasibility study for its Angostura gold project located in northeastern Colombia. Using a base case gold price of $700 per ounce in the first three years of operation and $650 per ounce thereafter, the study envisions average annual production of 511,000 ounces of gold and 2.3 million ounces of silver over a 15-year mine life generating a net present value of $558 million and an internal rate of return of 19 per cent all at a 6 per cent discount. Greystar ended the day up C$0.34 at C$4.05.

The board room brawls are continuing with NEMI Northern Energy & Mining engaging the services of Vancouver lawyer Leon Getz, QC, to serve as independent chair for its annual and special meeting of shareholders next Monday. Michael Cooney, a concerned shareholder of NEMI with around 10.6 per cent interest, has nominated a new slate of directors for election to the board of directors. NEMI closed up C$.03 at C$0.33.

The unemployment news continues to be very weak and that suggests another re-test of the lows is possible so gains made best be made with quick trades. We will see what Thursday trading has in store.

Source: Resource Stock Roundup:Thursday, March 26th, 2009