Contrarian Stock Market Investing News - Featuring Bargain Stocks » Glen Eagle Resources http://www.contrarianprofits.com Access market-beating ideas from the world's top investment gurus on stock market investing, the gold market, ETFs, Forex trading and real estate values. Mon, 10 May 2010 15:10:45 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Resource Stock Roundup:Monday, June 08th, 2009 http://www.contrarianprofits.com/articles/resource-stock-roundupmonday-june-08th-2009/17644 http://www.contrarianprofits.com/articles/resource-stock-roundupmonday-june-08th-2009/17644#comments Mon, 08 Jun 2009 19:25:52 +0000 Doug Casey http://www.contrarianprofits.com/?p=17644 Job losses in the United States slowed during the month of May but the overall unemployment rate came in higher at 9.4 per cent. The bulls took the news to mean that the glass is half full, while the bears think the glass is half empty and in the end it was the bulls that prevailed during Friday’s session on the Canadian Markets. For the tale of the tape, the TSX Exchange rallied 0.88%, while the TSX Gold Index was the big loser by falling 3.1% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.43% with the advancers beating out the decliners by a 451 to 390 margin on a respectable 197 million shares traded.
Much like its…

]]> Job losses in the United States slowed during the month of May but the overall unemployment rate came in higher at 9.4 per cent. The bulls took the news to mean that the glass is half full, while the bears think the glass is half empty and in the end it was the bulls that prevailed during Friday’s session on the Canadian Markets. For the tale of the tape, the TSX Exchange rallied 0.88%, while the TSX Gold Index was the big loser by falling 3.1% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.43% with the advancers beating out the decliners by a 451 to 390 margin on a respectable 197 million shares traded.
Much like its move against the HudBay Mining – Lundin Mining proposed merger, it looks like Jaguar Financial through legal threats has stopped the proposed Glen Eagle Resources investment in Kinbauri Gold. You see, Glen Eagle has been advised by Kinbauri that it has terminated the subscription agreement dated May 8, 2009. For its part, Glen Eagle believes that Kinbauri’s termination is a breach of the agreement and is considering its options. Meanwhile, Orvana Minerals all-cash offer of C$0.55 per share for Kinbauri is on the table. As it stands now, it will all come down to a court decision slated for June 17. Kinbauri ended the day unchanged at C$0.58, Glen Eagle fell C$0.01 to C$0.09 and Orvana closed up C$0.01 at C$0.74.

Harry Winston Diamond (NYSE:HWD) tabled a net loss of US$45.1 million, or US$0.68 per share, in the first quarter ended April 30, compared to earnings of US$21.3 million in the corresponding period a year earlier. The 30 per cent holder of the Diavik diamond mine in the Northwest Territories is being impacted by falling diamond prices and the ongoing global financial woes. Harry Winston ended the day down C$0.03 at C$7.30.

Despite a major plunge in the price of bullion, the junior market showed surprising strength with solid strength on the buy side. We shall see what Monday trading has in store.


Source: Resource Stock Roundup:Monday, June 08th, 2009

]]> http://www.contrarianprofits.com/articles/resource-stock-roundupmonday-june-08th-2009/17644/feed 0 Resource Stock Roundup: Monday, April 20th, 2009 http://www.contrarianprofits.com/articles/resource-stock-roundup-monday-april-20th-2009/15770 http://www.contrarianprofits.com/articles/resource-stock-roundup-monday-april-20th-2009/15770#comments Mon, 20 Apr 2009 20:12:43 +0000 Doug Casey http://www.contrarianprofits.com/?p=15770 The bulls once again showed their strength during Friday trading on the Canadian markets, with investors laying down bets that the worst of the economic storm has now passed. For the tale of the tape, the TSX Exchange added 1.01%, while the TSX Gold Index lost another 3% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, tacked on 0.72%, with the advancers edging out the decliners by a 390 to 352 margin on volume of 133 million shares traded.

Despite the rebound in the overall equity markets, Vale Inco is shutting down all of its nickel operations in Ontario’s Sudbury Basin for two months this summer. In response to this news, FNX Mining is considering several possible production alternatives…

]]> The bulls once again showed their strength during Friday trading on the Canadian markets, with investors laying down bets that the worst of the economic storm has now passed. For the tale of the tape, the TSX Exchange added 1.01%, while the TSX Gold Index lost another 3% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, tacked on 0.72%, with the advancers edging out the decliners by a 390 to 352 margin on volume of 133 million shares traded.

Despite the rebound in the overall equity markets, Vale Inco is shutting down all of its nickel operations in Ontario’s Sudbury Basin for two months this summer. In response to this news, FNX Mining is considering several possible production alternatives for its Sudbury mining operations, including stockpiling its ore for processing when Vale Inco resumes operations; temporarily suspending some or all production; and exploring the possibility of sending ore to other processing facilities. FNX ended the day down C$0.25 at C$6.10.

Glen Eagle Resources has stepped up to the plate by investing C$32 million in return for a 45 per cent stake in Kinbauri Gold’s El Valle-Carles gold-copper project in northwestern Spain. Glen Eagle also has the right to buy another 5 per cent by investing another $5 million. Glen Eagle closed down C$0.035 at C$0.145, while Kinbauri added C$0.02 to C$0.47.

The markets now appear to be poised to move higher even in the face of rather dire economic numbers. We shall see what Monday trading has in store.


Source: Resource Stock Roundup: Monday, April 20th, 2009

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