Avion Resources tabled an updated resource for its Segala and Tabakoto gold projects in Mali. The Segala zone hosts an open pit measured and indicated resource of 4.1 million tonnes grading 3.3 grams gold per tonne and an inferred resource of 2.5 million tonnes running 3.52 grams gold per tonne. The underground resources came in at nearly 2.7 million grading 3.73 grams gold per tonne in the measured and indicated camp, while the inferred section hit nearly 3.4 million tonnes grading 3.68 grams gold per tonne. Avion ended the day up C$0.35 at C$0.38.

One time highflying Katanga Mining reported a first quarter loss of US$52 million, or US$0.25 per share compared to a loss of US$17.4 million or US$0.10 per share in the same quarter last year. The company sold US$47 million of copper cathode, cobalt and cobalt concentrate from its Democratic Republic of Congo operation in the quarter. Katanga ended the session down C$0.02 at C$0.83.

It was a rough day for shareholders of Cardero Resource (AMEX:CDY). The company announced that a subsidiary of Nanjinzhao Group Co. Ltd. has declined to pay a US$10 million deposit due May 17 to purchase the Pampa de Pongo iron property in Peru. The US$200 million price tag is currently being negotiated. Cardero ended the day down C$0.32 at C$1.02.

Grayd Resource tagged a nice hole on its La India project in Mexico. The hole returned 89.9 metres grading 4.26 grams gold per tonne. Grayd ended the day up C$0.10 at C$0.45.

Despite more weak housing data out of the United States, investors continued to gobble up equities. We shall see what Wednesday trading has in store.

Source: Resource Stock Roundup:Wednesday, May 20th, 2009

Cash strapped Cadiscor Resources and cash-rich Tiomin Resources have agreed to merge in an all-share transaction that would see Tiomin consolidate its shares on a 10 old for 1 new basis, and then receive one Cadiscor share for each new Tiomin share. The move would allow Cadiscor to move forward into production at the Sleeping Giant mine in Northern Quebec. Cadiscor ended the day down C$0.18 at C$0.30, while Tiomin closed unchanged at C$0.03.

Uranium One inked a financing deal that would give a Japanese consortium a 19.95 per cent equity stake in the uranium miner. The company will sell 117 million shares at a price of C$2.30 to the consortium for a total of C$270 million. Uranium One also entered into an offtake agreement with the group that includes Tokyo Electric Power Toshiba, and the Japan Bank for International Cooperation. Uranium One ended the session up C$0.08 at C$2.03.

It was a good day for shareholders of Reservoir Capital, which added C$0.12 to close at C$0.35. The company announced that it has been awarded two energy licenses to develop hydroelectric projects in Serbia.

Grayd Resource tabled indicated resources of 17.2 million tonnes grading 1.01 grams gold per tonne and inferred resources of 9.4 million tonnes grading 1.05 grams gold per tonne at its La India gold project in Mexico. Gryad ended the day down C$0.015 at C$0.455.

The Ontario Superior Court of Justice has granted an injunction restraining Rusoro Mining from proceeding with any hostile takeover bid to acquire the shares of Gold Reserve (AMEX:GRZ) until the conclusion and disposition at trial of the action commenced by Gold Reserve. Shares of Rusoro were halted from trading at C$0.74, while Gold Reserve lost C$0.04 to close at C$1.24.

After a brief hiatus, all eyes are once again focused on bullion and its rosy prospects moving forward. We will see what Wednesday trading has in store.

Source: Resource Stock Roundup: Wednesday, February 11th, 2009