For the tale of the tape, the TSX Exchange fell 0.42%, while the TSX Gold Index was the big winner by jumping 2% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, dropped 1.14% with the declining issuers beating out the advancers by a 570 to 302 margin on volume of 111 million shares traded.

It was a rough day for shareholders of Goldsource Mines (CVE:GXS) after the company reported that one hole returned 41.1 metres of coal, while another hit 6.7 metres and a third had no coal at the Border Property near Hudson Bay, Saskatchewan. Drilling is now complete until after freeze up. Goldsource ended the day at C$4.50, down C$1.38.

Shares of ATAC Resources (CVE:ATC) managed to gain C$0.02 to close at C$0.34 after reporting a 78.54 metre intercept running 1.71 grams gold per tonne at its wholly owned Rau property in the Keno Hill district of central Yukon.

Gateway Gold (TSE:GTQ) and Victoria Gold (CVE:VIT) are looking to merge in a transaction that would see Victoria acquire Gateway for 0.5 Victoria share for each Gateway share. At the end of the day, Victoria would have nearly 113 million shares outstanding. Gateway ended the day up C$0.01 at C$0.18, while Victoria added C$0.02 at C$0.36.

Anatolia Minerals Development (TSE:ANO) has been granted the forestry permit for its Copler gold mine project in Turkey. The permit is the final preconstruction permit needed. Anatolia ended the session up C$0.16 at C$2.32.

A notable lack of buyers is driving to junior bourse to new multi-year lows. We will see what Wednesday trading has in store.

Source: Resource Stock Roundup: Wednesday, August 20th, 2008

For the tail of the tape; the TSX Exchange gained 0.32%, while the TSX Gold Index (TSE:XGD) lost 3% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 0.84% with the declining issuers beating out the advancers by a 525 to 339 margin on pathetic volume of 105 million shares traded.

In the it’s about time camp, Teck Cominco (NYSE:TCK) finally stepped to the plate and agreed to buy out the remaining stake it does not already own in Fording Canadian Coal Trust in a total cash and stock deal worth C$14.1 billion. Under the proposal, Fording unitholders get C$82 in cash and 0.245 of a Teck Class B subordinate voting share for each Fording unit. Teck will finance the cash portion of its bid primarily with C$9.8 billion in loans arranged with a syndicate of banks, as well as with proceeds of a sale of Fording units that Teck holds. Teck ended the day up C$2.44 at C$42.85, while Fording added C$6.55 to close at C$90.35.

It was a good day for Exeter Resources (CVE:XRC) as the company reported the highest-grade intersection to date from its Cerro Moro gold-silver project in Argentina. The hot hole yielded a mind numbing 471.9 grams gold per tonne over 3.6 metres. Exeter ended the session up C$0.27 at C$3.49.

Hathor Exploration (CVE:HAT) hit basement-hosted uranium mineralization in the second and third diamond drill holes completed during the summer 2008 drill program on the Roughrider zone on its 90% owned Midwest NorthEast project. Assay results still pending. Hathor ended the day up C$0.05 at C$2.96, while 10% owner Terra Ventures (CVE:TAS) added C$0.06 at C$0.70.

Northern Freegold Resources (CVE:NFR) tagged 46.96 metres averaging 9.6 grams gold per tonne at its Freegold Mountain project in the Yukon. No one cared as Freegold ended the day unchanged at C$0.60.

With no rest for the sellers with the underlying commodity prices weakening, one has to wonder what it will take to get some serious buying back into resource stocks We will see what Wednesday trading has in store.

Source: Resource Stock Roundup: Wednesday, July 30th, 2008

For the tail of the tape; the TSX Exchange lost 0.59%, while the TSX Gold Index (TSE:XGD) was the lone winner by adding 1.1% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 0.08% with the declining issuers beating out the advancers by a 518 to 412 margin on volume of 128 million shares traded.

Well let’s see. On Friday we reported that shares of Goldsource Mines (CVE:GXS) added C$4.74 to C$8.89 on optimism that economic coal could still be found on its coal permits of the Border property near Hudson Bay, Saskatchewan. Now I am not one to call out the dogs but on Monday the company reported that it hit 23.2 metres of coal in its fifth hole on the project. Pure luck or a little leakage ahead of the news and perhaps the regulators should decide which. Goldsource ended the day up C$0.99 at C$9.88 after hitting an intraday high of C$14.65.

On the area play front, shares of Geo Minerals (CVE:GM) added C$0.055 to close at C$0.255 after the company received a letter from Saskatchewan Energy and Resources stating that of the coal permit applications will be given priority sequence.

Stocks to watch for Tuesday’s session include Hathor Exploration (CVE:HAT) and Terra Ventures (CVE:TAS). The 90-10% partners on the Roughrider uranium discovery zone in Saskatchewan were halted from trading pending news. Hathor closed at C$2.91 up C$0.06 before the halt, while Terra closed at C$0.64 for a C$0.02 loss. More drill results coming so stay tuned.

After a bit of a rest on Friday, the sellers are back using any volume generated to sell stocks. We will see what Tuesday trading has in store.

Source: Resource Stock Roundup: Tuesday, July 29th, 2008

For the tail of the tape; the TSX Exchange added 1.31%, while the TSX Gold Index tacked on 1.4% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, gained 0.16% with the declining issuers beating out the advancers by a 443 to 355 margin on volume of 130 million shares traded.

Shares of Roscan Minerals (CVE:ROS) lost C$0.35 to close at C$0.35 after the company announced that it will not proceed with the acquisition of the Prognoz silver project.

Goldsource Mines (CVE:GXS) managed a modest recovery as some optimism that economic coal could still be found on its coal permits of the Border Property near Hudson Bay, Saskatchewan. Goldsource ended the day up C$4.74 at C$8.89.

Equal partners Thundermin Resources (TSE:THR) and Cornerstone Resources (CVE:CGP) continue to hit the goods on the Little Deer property in Newfoundland. The latest results include 2.2% copper over 16.8 metres. Cornerstone ended the day down C$0.01 at C$0.22, while Thundermin added C$0.015 at C$0.29.

The sellers apparently elected to take a rare day off but indications are they will be back. We will see what Monday trading has in store.

Source: Resource Stock Roundup: Saturday, July 26th, 2008

It was a rough day for high flying Goldsource (GXS) as the diamond explorer turned accidental coal finder released results of its first drill hole following the April discovery of coal in Saskatchewan. Having rocketed from around C$0.20 to over C$19 bucks a share on two drill holes perhaps a correction was warranted. The latest result was collared 1.3-km south of the initial holes and essentially duded. Goldsource ended the day down C$6.75 to close at C$6 even.

The area players also sold off, with Bitterroot Resources dropping C$0.175 to close at C$0.405.

On the takeover front, TransAlta (TA) received a C$39 per share takeover offer from LS Power Equity Partners and Global Infrastructure Partners. TransAlta ended the day up C$4.87 at C$37.12.

Western Copper (WRN) completed the first permitting step for its Carmacks copper project in the Yukon with the Environmental and Socio-economic Assessment Board final screening report and recommendation. Western ended the day up C$0.03 at C$1.29.

The junior board has lost ground for six consecutive weeks and based on the start of this trading week it looks like its losing streak could well remain intact. We will see what Tuesday trading has in store.

Source: Resource Stock Round Up Tuesday July 22, 2008

For the tale of the tape, the TSX Exchange gained 0.76%, while the TSX Gold Index added 1.3% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, dropped 0.48% with the declining issuers once again out pacing the advancers this time by a 577 to 470 margin on big volume of 250 million shares traded.

Canada’s third-biggest zinc and copper producer, HudBay Minerals (HBM) is offering up 0.61 of its shares for each Skye Resources (SKR) share. HudBay would also buy around 12.7 million shares of Skye at a price of C$7.51 per share in a private placement. At the end of the day, HudBay would have 160.9 million outstanding, of which Skye shareholders would have 20.3 percent. Skye has agreed to pay a break fee of $14 million to HudBay if another takeover offer prevails. Of interest is Skye’s Fenix nickel project in Guatemala. Fenix is slated to go into production in the second half of 2009 at a developing cost of C$1.1 billion and would mark HudBay’s first foray into nickel. HudBay ended the day down C$0.78 at C$14.01, while Skye added C$0.98 to close at C$8.70.

The big winner of the session was Weststar Resources (WER), which added C$0.73 to close at C$1.06. The junior inked a letter of intent to acquire 72 coal permit applications some 70 kilometres northwest of the recent coal discovery of Goldsource Mines (GXS), near Hudson Bay Saskatchewan.

Shares of Bitterroot Resources (BTT) continued to climb on speculation that the company is acquiring three coal permits in Manitoba. Bitterroot gained C$0.10 to close at C$0.93.

Meanwhile away from the red hot coal sector, Tarsis Capital (TCC) reported that the first hole drilled at the Discovery Horizon on its Mor property in the Yukon intersected massive, semi-massive and disseminated sulphide mineralization from 95.09 to 103.48 metres. Another narrow interval of intermittent semi-massive, disseminated and wispy sulphide bands comprising coarse pyrite and lesser chalcopyrite and magnetite was cut between 139.63 and 144.76 metres. Results pending and drill rig turning. Thinly traded Tarsis ended the day up C$0.06 to C$0.45.

The roller coaster ride continues for investors in the Canadian Markets. We will see what Tuesday trading has in store.

Source: Resource Stock Roundup Tuesday, June 24, 2008