Resource Stock Roundup Friday August 1, 2008
Aug 1st, 2008 | By Doug Casey | Category: Financial News, Gold MarketIn a reversal of recent fortunes, the more speculative stocks actually showed signs of life and out performed their bigger brothers during Thursday trading on the Canadian Markets. For the tail of the tape; the TSX Exchange lost 0.66%, while the TSX Gold Index fell 0.6% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, tacked on 1.82% with the advancing issuers beating out the decliners by a 536 to 406 margin on pathetic volume of 146 million shares traded.
In a surprise move, Goldcorp (G) stepped up to the plate and agreed to buy Gold Eagle Mines (GEA) in a deal valued at C$1.5 billion. The major will pay C$6.80 in cash and 0.146 Goldcorp share for each Gold…