Barrick Gold (NYSE:ABX) saw its first-quarter profit fall 28 percent thanks to higher costs and weaker copper prices. The world’s top gold producer posted a profit of $371 million, or $0.42 a share in the three months that ended March 31. Gold production came in at 1.76 million ounces with cash costs soaring to $484 per ounce from $395 per ounce recorded in the same period a year earlier. Copper production tallied 95 million pounds and revenues hit $1.8 billion. Barrick ended the day up C$0.05 at C$35.65.

Diversified miner and energy player, Sherritt International posted a loss of $42.9 million or $0.15 per share in the first quarter down from a $89 million profit recorded in the first quarter of 2008. Sherritt ended the session at C$4.95 for a C$0.02 gain.

Minera Andes’ 49 per cent owned San Jose mine in Argentina produced 1,299,000 ounces of silver at a cash cost of $4.99 per ounce and 16,560 ounces of gold at a cash operating cost of $357 per ounce in the first quarter. Minera ended the day down C$0.05 at C$0.65.

Capstone Mining tabled more impressive drill results from areas south of its Minto open pit mine in the Yukon. Highlights included 2.7 per cent copper and 7.8 grams gold per tonne over 8.1 metres. Capstone ended the day up C$0.04 at C$1.89.

Shares of Kootenay Gold added C$0.12 to close at C$0.62 after the junior reported that grab samples returned up to 45.6 grams gold and 298 grams silver per tonne along strike on the Dorotea structure on its Promontorio property in Mexico.

Premier Gold Mines cut 15.97 grams gold per tonne over 32.1 metres at its Hardrock project in Ontario. Premier ended the day up C$0.31 at C$2.38.

The junior board continues to hurdle the 1,000 point mark with the future direction remaining uncertain. However, abnormally strong trading activity bodes well for the near term. We shall see what Thursday trading has in store.

Source: Resource Stock Roundup: Thursday, April 30th, 2009

It was a good day for Peregrine Diamonds after the company reported that it discovered a gem quality 2.01 carat stone from a 2.28 tonne sample collected from the CH-1 kimberlite on the Chidliak property in Canada’s north. Peregrine ended the session at C$0.395, for a C$0.06 gain.

Rolling Rock Resources bounced off the mat to close at C$0.035 for a C$0.015 gain. The junior announced that its Monument Bay deposit in Manitoba hosts just over 1.2 million ounces of gold.

Firestone Ventures came out with a 1.89 million tonne measured and indicated resources grading 10.55% zinc equivalent at its Torlon deposit in Guatemala. Firestone ended the session up C$0.025 at C$0.085.

Silverstone Resources sold 386,000 ounces of silver in the third quarter from its royalty stream. The cost of the ounces tallied $3.97. Silverstone ended the day up C$0.015 at C$0.48.

Western Prospector Group has officially launched legal proceeding against Tinpo Holdings Industrial Company Limited and others in connection with the failure of Tinpo to perform its obligations under the Support Agreement dated July 15, 2008 that called for Tinpo to acquire Western Prospector at C$1.34 per share. Western ended the day up C$0.005 at C$0.17.

Partners Astral Mining and Kootenay Gold tagged 21.04 grams gold per tonne over 4 metres at the Jumping Josephine project in south-eastern British Columbia. Astral ended the session up C$0.03 at C$0.095, while cash-rich Kootenay closed unchanged at C$0.46.

The intraday volatility continues at an extreme level with sentiment still pushing to the downside. We will see what Wednesday trading has in store.

Source: Resource Stock Roundup: Wednesday, November 19th, 2008