High Desert Gold is continuing to put out exploration results despite the fact that shareholders have a C$0.19 per share takeover offer on one hand and a C$0.27 per share purchase offer from the company itself. High Desert re-analyzed gold assays from the drill core at its Canasta Dorada project in Mexico with results coming in 42% to 151% higher. The results are still generally less than 1 gram gold per tonne. High Desert ended the day unchanged at C$0.24.

Eurasian Minerals reported that 11 metres grading 5.48% zinc, 7.45% lead ad 79.56 grams silver per tonne were hit by the owner and operator of its Balya royalty property in Turkey. Eurasian ended the day down C$0.03 at C$0.51.

The junior bourse closed a new multi-year lows and looks set to test the 650 point mark. We will see what Monday trading has in store.

Source: Resource Stock Roundup: Monday, December 6th, 2008

For the tale of the tape, the TSX Exchange rallied 1.15%, while the TSX Gold Index added 0.5% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, lost 0.08% with the declining issuers inching past the advancers by a 533 to 497 margin on volume of 182 million shares traded.

It was a good session for shareholders of VMS Ventures. The company recently announced another hot drill hole at its Reed Lake base metal project in Manitoba and adopted a shareholder rights plan. VMS ended the day up C$0.12 at C$0.85.

B2Gold tabled some nice numbers from its Quebradona joint venture property in Colombia. Highlights included hole 2, which returned 52.7 metres grading 1.36 grams gold per tonne, 2.1 grams silver and 0.144% copper. By funding the 5,000-metre drill program, B2Gold will earn a 51% stake in the property from AngloGold Ashanti. B2Gold closed unchanged at C$1.40.

High Desert Gold, which is trading at a value of around half its cash in the bank, fought off the sellers by announcing a normal course issuer bid paving the way for the company to buy back up to 10% of its public float or about 3.4 million shares. High Desert ended the day up C$0.035 at C$0.185, which is still well off its C$0.30 cash value.

As we wind down the month of May, knowledge once again looks key to making money on the Canadian markets as only select issues are moving higher. We will see what Thursday trading has in store.

Source: Resource Stock Roundup: Thursday, May 29th, 2008