For the tale of the tape, the TSX Exchange gained 0.68%, while the TSX Gold Index rallied 1% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 0.19% with the declining issuers inching past the advancers by a 554 to 520 margin on robust volume of nearly 291 million shares traded.

Shares of Solex Resources got a boost after the company announced that its Princesa project in Peru hosts an inferred resource of 4.6 million tonnes running 90.88 grams silver per tonne, plus 1.66% lead and 1.69% zinc. Solex ended the day up C$0.05 at C$0.315.

Crystallex International got word from the Director General in the Administrative Office of Permits at the Ministry of the Environment and Natural Resources of Venezuela that their legal rebuttal has been denied. The news was already priced into the stock however as Crystallex ended the day up C$0.04 at C$0.84.

Antares Minerals rallied following news that the company cut 0.6% copper and 0.57 gram gold per tonne over 146 metres at the Rio Grande copper-gold project in northwestern Argentina. Antares ended the session up C$0.13 at C$3.88.

News that Stealth Ventures closed a C$22 million financing to fund work on its shale gas project helped propel its stock C$0.15 higher to close at C$0.98.

Brett Resources closed its deal with Kinross to earn 100% of the Hammond Reef gold project in Ontario. Brett issued 14 million shares and Kinross gets to keep a 2% net smelter royalty. Brett closed up C$0.06 at C$0.95, while Kinross added C$0.30 to close at C$20.12.

It was a lackluster start to June for the more speculative stocks but with the price of bullion once again showing signs of life it is only a matter of time before there is a feed down effect. We will see what Tuesday trading has in store.

Source: Resource Stock Roundup Tuesday, June 3, 2008

For the tale of the tape, the TSX Exchange tacked on another 1.05%, while the TSX Gold Index gained 2.9% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 1.37% with the advancing issuers beating the decliners by a 584 to 434 margin on volume of over 223 million shares traded.

Shares of Crystallex International continued to slide after comments made by the Minister of the Environment and Natural Resources of Venezuela that call for a ban on open pit mining in Venezuela. Crystallex maintains that the Minister’s comments “are in conflict with the Las Cristinas environmental impact study approval, construction compliance guarantee bond request and environmental tax request issued by the same ministry.” Welcome to Venezuela. Crystallex ended the day flat at C$0.84.

Sprott Inc’s second day of trading proved to be similar to the first as shares in the well-known resource investment firm fell C$0.14 to close at C$9.70. The company, whose mutual funds and hedge funds made C$42.3 million last year, completed its $200 million initial public offering at C$10 each.

Shares of Southern Hemisphere Mining got a modest boost after reporting a 78 metre drill intercept running 0.96% copper and 0.4 grams silver per tonne at its El Arrayan project in Chile. Southern ended the day up C$0.035 at C$0.25.

Beleaguered Southwestern Resources has inked a deal to sell its troubled Boka gold project in China to Hong Kong East China Non-Ferrous International Mineral Development Co. for $9.4 million and a 2.7% net smelter return on production is excess of 6.5 tonnes. Southwestern ended the day down C$0.02 at C$0.53.

Rumours are circulating that Hathor Exploration is about to table some good news for shareholders. No word on what that news is. The company recently discovered the Roughrider zone on its 90% owned Midwest NorthEast uranium property in Saskatchewan’s Athabasca Basin. Hathor ended the day up C$0.16 at C$2.76.

Given the strong run up in Canadian equities, the Monday holiday in Canada may well give investors pause and a correction may be in the offing. We will see what Tuesday trading has in store.

Source: Resource Stock Roundup: Saturday, May 17th, 2008