Northgate Minerals (AMEX:NXG) posted a first quarter profit of $21.41 million, or $0.08 per share on production of 107,477 ounces of gold. Cash costs rang in at $396 per ounce. Northgate ended the day up C$0.06 at C$1.98.

Eldorado Gold (AMEX:EGO) earned $13.1 million or $0.04 per share in the first quarter of 2009 down from the $20.7 million or $0.06 per share tallied in the first quarter of 2008. Total production hit 61,426 ounces at an average cash cost of $296 per ounce. Expected output for 2009 is 330,000 ounces of gold. Eldorado ended the day down C$0.30 at C$9.75.

Zincorp cut 5.36 percent zone, 16.36 percent lead and 152 grams silver per tonne over 9.4 metres at its wholly owned Michelle property in central Yukon Territory. Zincorp closed at C$0.06 for a C$0.02 gain.

Investors elected to overlook the fact that the job numbers are still terrible and that several of the big banks in the United States still need to raise capital. We shall see what Monday trading has in store.

Source: Resource Stock Roundup:Monday, May 11th, 2009

The controversial C$762.4 million proposed take over of Lundin Mining (NYSE:LMC) by HudBay Minerals is now over. HudBay officially gave into shareholder revolt by terminating the transaction without either party paying a break fee. HudBay ended the session up C$0.60 at C$5.38, while Lundin dropped C$0.07 at C$0.73.

Eldorado Gold Corporation (AMEX:EGO) announced plans for a C$275 million financing but then abruptly cancelled the offering after failing to get satisfactory terms. Eldorado ended the day down C$1.34 at C$10.24.

Disappointing results from the Tuktu-1, 2 and 3, as well as the Qavvik-4, 5 and 6 kimberlites in Nunavut had shares of Diamonds North Resources fall C$0.14 to C$0.12.

Take profits where you can was the name of the game as gold stocks took one on the chin. On the plus side, energy and financials showed some strength. We will see what Wednesday trading has in store.

Source: Resource Stock Roundup: Wednesday, February 25th, 2009

Southwestern Resources and Geoinformatics Exploration are looking to merge in a deal that would see Geoinformatics get 0.6 of a Southwestern share for each Geoinformatics share held. Southwestern ended the session down C$0.015 at C$0.235, while Geoinformatics closed unchanged at C$0.18.

On the drill front, cash rich IMA Exploration (AMEX:IMR) tabled the results from the Island Copper project in British Columbia. Highlights included 238 metres running 0.61 gram gold and 0.08% copper. IMA ended the day down C$0.02 at C$0.30.

North American Tungsten added C$0.03 to close at C$0.175 after the company announced that a bankable feasibility study over its MacTung deposit in the Yukon generates an internal rate of return of 23.5% and has a pretax net present value at an 8% discount of $277 million.

Eldorado Gold (AMEX:EGO) is a company to watch, having its shares halted from trading at C$11.64 pending news. Financing or takeover?

Hold onto your hat because it looks like the next leg down has started and the bottom appears to be nowhere in sight. We will see what Tuesday trading has in store.

Source: Resource Stock Roundup: Tuesday, February 24th, 2009

• Toyota Motor Corp. (ADR: TM) plans to drop more than $1 billion on a new factory in Sao Paulo, Brazil, Valor Economico reported without citing a source. The new factory would be a bid to capture a share of the economic growth and rising incomes in South America.

• A pair of mortgage executives in India said the country’s five-year property boom is coming to an end as the number of available homes increases along with interest rates. “Due to the state of the equity markets, many investors who would have bought a second or a third house are abstaining from doing so,” Keki Mistry, vice chairman of Housing Development Finance Corp., India’s largest provider of home loans, told Bloomberg News. “Genuine home buyers who are looking to buy a house for self occupation will continue to buy.”

• The economy turned in a better, though still unimpressive, performance in the first quarter of 2008, edging up a full 1%, the Associated Press reported. The Commerce Department had originally estimated a growth rate of 0.9% for the January-to-March quarter.

• Existing home sales picked up in May, but home values continued their decline, according to a report from the Associated Press. The National Association of Realtors reported that sales of existing single-family homes and condominiums rose by 2% to 4.99 million units last month. However, the median price of an existing home sold in May dropped to $208,600, down 6.3% from a year go.

• Anheuser-Busch Cos. Inc. (BUD) is expected to reject InBev NV’s unsolicited $46.3 billion offer, saying it undervalues the company, and announce its own restructuring plan, the Wall Street Journal reported. The company will then outline its own restructuring, which includes the sale of nonessential assets such its theme parks in an effort to boost its stock price.

• Bank of America Corp. (BAC) announced it would cut approximately 7,500 jobs after its merger with Countrywide Financial Corp. (CFC), Reuters reported. The second largest U.S. bank will let go of 3% of the combined workforce after its acquisition of the largest U.S. mortgage lender.

• Kinross Gold Corp. (KGC) stock gained almost 12% yesterday (Thursday) on the back of a gold increase, which saw a 4% gain to $915 an ounce. The gold miner’s shares gained $2.35 to close at $22.34. Canada-based Eldorado Gold Corp. (EGO) saw a similar gain, with shares climbing over 10% with a 77-cent increase to close at $8.02.

• Oshkosh Corp. (OSK) shares plunged over 33% yesterday (Thursday) after the aerial work platforms manufacturer forecast a loss of as much as $1.32 per share in the third quarter, Bloomberg News reported. Shares plunged $11.22 to close at $22.29.

Source: Global Investing Roundups Friday, June 27th, 2008