First Quantum Minerals saw its first-quarter profit plunge 94 per cent to $10.9 million or $0.16 per share from $182 million or $2.68 per share in the first quarter of 2008. Lower copper prices resulted in a 48 percent drop in revenues to $268.2 million. Copper production came in at 89,440 tonnes, up some 18 percent and gold output hit 50,425 ounces. Cash costs were an enviable $0.97 per pound. First Quantum ended the day down C$4.39 at C$45.11.

Gammon Gold (NYSE:GRS) reported first quarter earnings of $2.6 million, or $0.02 per share, compared with the $8.5 million, or $0.07 per share booked in the same period in 2008. The earnings were hit by one-time charges. Gold production came in at 36,829 ounces and silver output tallied 1,351,300 ounces. Gammon ended the day down C$0.77 at C$8.35.

Every single subsector of the exchange closed in the red suggesting a very broad based selloff. We shall see what Thursday trading has in store.

Source: Resource Stock Roundup:Thursday, May 14th, 2009

Paramount Energy Trust went shopping and agreed to buy Profound Energy in a friendly cash-and-stock deal valued at $112.9 million. Paramount ended the day down C$0.10 at C$3.09, while Profound added C$0.54 to close at C$1.19.

Meanwhile, Capital Gold has left Gammon Gold (NYSE:GRS) standing at the altar. The board of directors of Capital Gold have decided not to sign a definitive merger agreement and are walking away. Capital ended the day down C$0.05 at C$0.70, while Gammon added C$0.20 at C$8.16.

Forsys Metals is continuing to try to get its C$7 per share takeover offer from George Forrest International Afrique SPRL completed, but so far no definitive deal on the agreement has been reached. Forsys ended the day down C$0.84 at C$4 even.

Capstone Mining tabled 2008 earnings of $131.8 million or $1.46 per share on sales of 42 million pounds of copper, 2 million pounds of zinc, 24,344 ounces of gold and 132,465 ounces of silver. Capstone ended the day up C$0.03 at C$1.67.

Shareholders of NEMI Northern Energy & Mining voted 2 to 1 to elect concerned shareholder Michael Cooney and his slate of nominees as NEMI’s new board of directors at the company’s annual and special general meeting. NEMI ended the day up C$0.04 at C$0.36.

The schizophrenic nature of the market is continuing and for those quick and nimble some profits are probably being made. Those with a buy and hold strategy are treading water at best. We will see what Wednesday trading has in store.

Source: Resource Stock Roundup: Wednesday, April 1st, 2009

Gammon Gold (NYSE:GRS) and Capital Gold are looking to team up with Capital Gold in an all share transaction that would see Capital Gold shareholders get 0.1028 Gammon Gold share for each Capital Gold share. Capital Gold also came out with second quarter earnings of $3.19 million or C$0.02 per share. Gammon ended the day down C$0.46 at C$9.13, while Capital Gold added C$0.06 at C$0.87.

Fronteer Development Group (AMEX:FRG) and 49 per cent holder AuEx Ventures tabled an indicated resource of 4.81 million tonnes grading 2.35 grams gold per tonne and an inferred resource of 8.78 million tonnes at an average grade of 1.63 grams gold per tonne for the Long Canyon deposit in northeastern Nevada. That tallies 822,000 contained ounces of gold. Fronteer ended the day up C$0.05 at C$2.91, while AuEx added C$0.07 to close at C$2.52.

The take over of Forsys Metals has hit a bump as the company extended the closing date for its proposed takeover offer from George Forrest International Afrique SPRL. The new date has not been determined, but no later than July 31. The purchase price remains at C$7 per share but the break fee jumps to $20 million. Forsys ended the day down C$1.55 to C$3.70.

The broader markets look very stable right now and appear to want to inch themselves higher. That said, we have been here before over the past 18 months and the end results proved to be lower-lows. We will see what Monday trading has in store.

Source: Resource Stock Roundup: Monday, March 16th, 2009

Hathor Exploration (CVE:HAT) came out with ore stellar numbers from its Roughrider zone on the Midwest NorthEast property in northern Saskatchewan. The latest included 23 metres running 11.23% U308. Hathor ended the day up C$0.05 at C$2.29, while 10% owner Terra Ventures was unchanged at C$0.43.

Sherwood Copper (CVE:SWC) discovered a new high grade copper-gold zone at its Minto Mine in the Yukon. Located only 800 metres from the open pit and 200 metres from the proposed area 2 open pit area, the Copper Keel discovery yielded 2.07% copper and 0.86 gram gold per tonne over 24.5 metres. Sherwood ended the day at C$2.07 for a C$0.38 gain.

Romarco Minerals (CVE:R) cut 4.9 grams gold per tonne over 98 metres at its Haile Mine in South Carolina. The news sent Romarco shares up C$0.015 at C$0.165.

Gammon Gold (NYSE:GRS) produced 34,096 ounce of gold and just over 1.37 million ounce of silver from its Ocampo operation in Mexico during the third quarter. The company, which added C$0.81 to close at C$4.51, also discovered a new underground vein, dubbed San Amado.

It was a good day for shareholders of Iamgold as the mid-tier gold miner added C$0.66 to close at C$4.60 on the rising gold price.

That’s six winning sessions in a row for the junior bourse with buyers starting to line up on the more beaten down speculative issues. We will see what Wednesday trading has in store.

Source: Resource Stock Roundup…Wednesday, November 05th, 2008

For the tale of the tape, the TSX Exchange lost 1.22%, while the TSX Gold Index plunged 4.4% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 2.84% with the declining issuers swamping the advancers by a 612 to 254 margin on volume of 119 million shares traded.

Gammon Gold (GRS) cut 12.25 grams gold over 1.2 metres at its Guadalupe y Calvo property in Mexico’s Chihuahua state. Shares of Gammon however followed the bullion price by ending the day down C$0.60 at C$9.05.

Financially troubled Geoinformatics Exploration (GXL) added C$0.005 to close at C$0.40 after reporting that the first hole of its 2008 drill program on the Whistler zone in Alaska cut 726.8 metres running 0.48 gram gold per tonne.

NovaGold (NG)and its long time shareholders must be shaking their heads about rebuffing the $16 per share takeover bid from Barrick Gold (ABX) in late 2006. Well, Barrick may get another chance only this time at a cheaper price because NovaGold announced that it was considering selling all or part of itself to unlock shareholder value. NovaGold, which closed down C$0.33 at C$6.20, holds a 50% stake in the Donlin Creek gold project in Alaska and a 50% interest in the Galore Creek copper-gold property in British Columbia.

The junior bourse has once again taken out its yearly low and is now trading some 45% off its high hit in May 2007. The next key down stop is at 1650, which is still a long way off the 890 point bottom encountered in 2002. We will see what Thursday trading has in store.

Source:  Resource Stock Roundup Thursday, September 4th, 2008