For the tale of the tape, the TSX Exchange added 1.24%, while the TSX Gold Index surged 10% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, rallied 2.8% with the advancing issuers actually outpacing the decliners by a 512 to 337 margin on volume of 125 million shares traded.

Uruguay Mineral Exploration (CVE:UME) cut 4.68 grams gold per tonne over 19.25 metres at the Arenal Deep target near the San Gregorio mine southern Uruguay. In the first quarter ended August 31, the company produced 16,439 ounces of gold by treating 335,832 tonnes grading 1.67 grams gold per tonne with recovery of 91.4%. The beaten down miner closed up C$0.05 at C$1.25.

It was a good session for shareholders of Energy Fuels (NASDAQ:CLNE) as the company reported that the U.S. Bureau of Land Management jointly issued a Record of Decision with a Finding of No Significant Impact for the company’s Whirlwind mine, which has surface facilities in Mesa county, Colorado, and additional mining claims in Grand county, Utah. Energy Fuels (TSE:EFR) ended the day up C$0.18 at C$0.61.

In the face of a market crumble, Potash Corp. of Saskatchewan (NYSE:POT) has increased its share repurchase program to 10%. The company ended the day up C$10.11 at C$172.11.

Shares of Odyssey Resources added C$0.08 to close at C$0.20 following news that Nassau Capital Management Partners acquired 5.2 million shares of Odyssey at a price of C$0.25 and now holds 5.2 million shares in the junior.

The junior board continues to trade at levels last seen in mid-2004 and this has many pundits calling it a major buying opportunity. We will see what Monday trading has in store.

Source: Resource Stock Roundup: Saturday, September 13th, 2008