Mindoro Resources inked a deal allowing Gold Fields (NYSE:GFI) the right to earn up to a 75 per cent stake in Mindoro’s El Paso, Lobo and Talahib porphyry copper-gold projects in the Philippines. Gold Fields must fund all the exploration and produce a feasibility study for each project to earn the interest. Mindoro ended the day up C$0.01 at C$0.15.

Tenajon Resources tabled an updated resource for its Moly Brook zone in Newfoundland. At a cut-off of 0.04% molybdenum, the indicated resource tallies 86.8 million tonnes grading 0.065% molybdenum and the inferred resource came in at 31.3 million tonnes grading 0.056% molybdenum. Tenajon ended the day down C$0.02 at C$0.10.

HudBay Minerals lost $3.95 million in the first quarter, compared with a profit of $21.52 million in the same period of 2008. The lower earnings reflect significantly lower realized prices for copper and zinc in 2009. On the exploration front, HudBay cut 23.11 grams gold per tonne over 8.75 metres at its Lalor deposit in Manitoba. HudBay ended the day down C$0.18 at C$8.65.

The Canadian markets are showing exceptional resilience in the face of still-weak economic data. We shall see what Wednesday trading has in store.

Source: Resource Stock Roundup: Wednesday, May 06th, 2009

For the tale of the tape, the TSX Exchange fell 1.62%, while the TSX Gold Index lost on 1.8% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, gave back 0.38% with the decliners beating out the advancers by a 439 to 355 margin on volume of 159 million shares traded.

Indian mining company Lakomasko BV has purchased 9.5 percent of HudBay Minerals, which announced late last week that it is evaluating its strategic options. HudBay ended the day up C$0.77 at C$8.35.

In the midst of a merger, Motapa Diamonds and Lucara Diamond recovered 715.79 carats from a 15,390 dry tonnes sample at the Mothae project in Lesotho. The sample produced 48 stones greater than two carats, 13 stones greater than five carats and one stone greater than 20 carats. Motapa ended the day up C$0.06 at C$0.31, while Lucara closed at C$0.50 for a C$0.02 gain.

Rubicon Minerals (AMEX:RBY) continued to hit the goodies at its F2 zone on the Phoenix gold project in Ontario’s prolific Red Lake mining camp. The latest results included 3.62 ounces of gold per ton over 9.8 feet and 6.96 ounces of gold per ton over 3.3 feet. Rubicon ended the day up C$0.05 at C$1.90.

Not to be outdone, Alamos Gold cut 12.2 metres grading 43.7 grams gold per tonne at its Mulatos gold project in Sonora, Mexico. Alamos ended the day up C$0.03 at C$8.25.

The junior board continues to straddle the crucial 1,000 point mark. Will it hold? We shall see what Tuesday trading has in store.

Source: Resource Stock Roundup: Tuesday, April 28th, 2009

With Geoinformatics Exploration out of the merger talks, Southwestern Resources has inked a preliminary deal to be taken out by Hochschild Mining (LON:HOC) for C$0.50 per share in cash. Southwestern ended the day up C$0.205 at C$0.41.

In the wake of a failed merger with Lundin Mining (NYSE:LMC), HudBay Minerals’ Allen Palmiere has resigned as chief executive officer and as a director. Colin Benner has assumed the role on an interim basis. HudBay ended the day up C$0.19 at C$5.90.

Despite cutting 100 metres of 1.11 gram gold per tonne at its Livengood project in Alaska, International Tower Hill Mines followed the price of bullion lower. Shares in the company fell C$0.30 to close at C$2.65.

Despite the modest uptick, the junior board continues to look weak in the face of seasonally low trading volumes. We will see what Wednesday trading has in store.

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

The controversial C$762.4 million proposed take over of Lundin Mining (NYSE:LMC) by HudBay Minerals is now over. HudBay officially gave into shareholder revolt by terminating the transaction without either party paying a break fee. HudBay ended the session up C$0.60 at C$5.38, while Lundin dropped C$0.07 at C$0.73.

Eldorado Gold Corporation (AMEX:EGO) announced plans for a C$275 million financing but then abruptly cancelled the offering after failing to get satisfactory terms. Eldorado ended the day down C$1.34 at C$10.24.

Disappointing results from the Tuktu-1, 2 and 3, as well as the Qavvik-4, 5 and 6 kimberlites in Nunavut had shares of Diamonds North Resources fall C$0.14 to C$0.12.

Take profits where you can was the name of the game as gold stocks took one on the chin. On the plus side, energy and financials showed some strength. We will see what Wednesday trading has in store.

Source: Resource Stock Roundup: Wednesday, February 25th, 2009

The big news of the day was the Ontario Securities Commission’s ruling that HudBay Minerals has to give its shareholders a vote if it wants to complete a controversial merger with Lundin Mining (NYSE:LMC). The decision reverses the TSX position that HudBay did not require a shareholder vote. HudBay ended the session up C$0.85 at C$4.37, while Lundin closed at C$0.92 for a C$0.27 loss.

Noront Resources cut 4.21% nickel, 2.14% copper, 0.35 grams platinum and 6.3 grams palladium per tonne over 28.8 metres at its Eagle One deposit in the McFaulds Lake area of northern Ontario. Noront ended the day down C$0.09 at C$1.15.

Shore Gold recovered 398.38 carats from 4,405.69 dry tonnes of kimberlite processed form its 60% owned Orion South kimberlite in the Fort a la Corne joint venture in Saskatchewan. Thirty-eight diamonds came in at more than one carat with the largest weighing in at 3.61 carats. Shore ended the day down C$0.015 at C$0.335.

On the gold front, Barrick Gold (NYSE:ABX) led the gold miners higher by adding C$4.09 to close at C$48.79.

The schizophrenic nature of the equity markets is continuing with big gains posted one day only to be followed by big losses the next. We will see what Monday trading has in store.

Source: Resource Stock Roundup:Monday, January 26th, 2009

HudBay Minerals and Lundin Mining have agreed to join forces in an effort to fight the current downtrend. Under the proposal, Lundin shareholders will get 0.3919 of a Hudbay share for each Lundin share held. Hudbay ended the day down C$2.07 at C$3.16, while Lundin added C$0.04 to close at C$1.05.

Finally, a sign that there is equity financing out there for the right deal, Red Back Mining has entered into a bought deal comprising 17.15 million shares at C$3.50 a piece for a cool C$60.02 million. Red Back ended the day up C$0.60 at C$4.60.

Osisko Mining continues to hit the goods at the South Barnat zone near is its Canadian Malartic deposit in Quebec. The latest results included 185.2 metres grading 1.97 grams gold per tonne. Osisko ended the day up C$0.13 at C$1.70.

Shares of Katanga Mining added C$0.01 to C$0.39 after reporting that the depressed price of cobalt has resulted in the temporarily suspension of mining operations at the Tilwezembe open pit and ore processing at the Kolwezi concentrator in the Democratic Republic of the Congo.

The trading week ended on a positive note with news of a large equity financing indicating there is money out there that will to be put to work for the right assets. We will see what Monday trading has in store.

Source: Resource Stock Roundup Monday, November 24th, 2008