Silver Wheaton (NYSE:SLW) has stepped up to the plate and is offering up 0.185 of its shares for each share of Silverstone Resources. The proposal values Silverstone at C$1.59 per share. In return, Silver Wheaton gains Silverstone’s silver stream agreements with Capstone Mining’s Minto copper-gold-silver mine in Yukon and its Cozamin copper-silver-lead-zinc mine in Mexico. Silver Wheaton closed the day at C$8.08 for a C$0.14 gain and Silverstone closed C$0.20 higher at C$1.45.

Largo Resources came out with an updated resource model for the Northern Dancer tungsten-molybdenum project in the Yukon. The latest tally shows measured resources of 30.8 million tonnes grading 0.114% WO3 and 0.030% molybdenum, indicated resources of 192.6 million tonnes grading 0.100% WO3 and 0.029% molybdenum and an inferred resource of 201.2 million tonnes grading 0.089% WO3 and 0.024% molybdenum. Largo ended the session down C$0.005 at C$0.075.

Donner Metals discovered massive sulphide mineralization in the Daniel-1 area just 16 kilometres northwest of Xstrata’s operating Perseverance mine and 26 kilometres northwest of the Matagami mill in Quebec. The discovery hole returned 3.95 metres grading 2.20 per cent copper, 0.09 per cent zinc, 8.8 grams silver per tonne and 0.25 gram gold per tonne. Donner closed flat at C$0.16.

Optimism that the worst of the economic turmoil is over had investors bidding up equities for the third straight session. We will see what Friday trading has in store.

Source: Resource Stock Roundup: Friday, March 13th, 2009

For the tale of the tape, the TSX Exchange fell 1.88%, while the TSX Gold Index gave back 0.8% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, dropped 0.58% with the declining issuers once again outpacing the advancers, this time by a 644 to 430 margin on big volume of nearly 262 million shares traded.

Kadywood Capital increased its C$200 million financing to C$260 million. The private placement will fund the purchase of 50% of the contained gold, platinum and palladium metal in ore mined and shipped from multiple FNX Mining operations in Ontario. Kadywood intends to change its name to Gold Wheaton. Kadywood ended the day down C$0.09 at C$1.10, while FNX added C$0.43 to close at C$25.70.

Largo Resources continued to benefit from its exploration exposure to vanadium as well as news that it has launched a scoping study over the Northern Dancer tungsten-molybdenum project in the Yukon. Largo can earn a 70% stake by issuing 4 million shares and spending C$5 million on exploration. Largo can then purchase the remaining interest from Strategic Metals for C$5 million in cash or stock at Strategic’s election. Largo ended the day up C$0.19 at C$1.40, while Strategic gained C$0.01 at C$0.52.

Pediment Exploration got a modest boost after reporting a 13.7 metre drill intercept running 16.3 grams gold per tonne at its Los Planes deposit in Mexico. Pediment closed out the day at C$1.54, up C$0.03.

Inflationary pressure continues to be a concern to the equity markets with rising interest rates typically bad for stocks. We will see what Friday trading has in store.

Source: Resource Stock Roundup: Friday, June 20th, 2008