Shares of Gold Reserve (AMEX:GRZ) have stabilized after reports came in that Venezuela terminated Gold Reserve’s concession for the large Brisas project. Rumours are now that Rusoro, which launched a failed takeover bid for Gold Reserve last year, may now end up in partnership with the Venezuelan government on the property. Gold Reserve ended the day flat at C$0.65.

Rimfire Minerals and Geoinformatics Exploration are looking to wed. Geoinformatics is coming off a failed merger with Southwestern Resources. Under the Rimfire deal, Geoinformatics will acquire Rimfire on the basis of 2.6 of Geoinformatic shares for each Rimfire share. Rimfire lost C$0.02 to close at C$0.40, while Geoinformatics added C$0.055 at C$0.225.

Linear Gold went shopping and bought the Goldfields project in Saskatchewan from financially plagued GLR Resources. The roughly 600,000 ounce reserve of 10.9 million tonnes grading 1.7 grams gold per tonne will cost $5.0 million in cash and 727,273 Linear Gold shares, plus Linear with will reimburse GLR for deposits made in connection with the equipment contracts in the amounts of $3 million and C$1.2 million. Linear Gold closed up C$0.23 at C$1.44.

Denison Mines (AMEX:DNN) went to the market and inked a C$82 million bought deal financing priced at C$2.05 per share. That was well below market so the uranium producer closed down C$0.28 to C$2.11.

A stock to watch is Underworld Resources. After the bell, the junior reported the results from the first three holes from the 2009 drilling program from the Golden Saddle zone at the White Gold property. Highlights included 3.39 grams gold per tonne over 104 metres. Underworld ended the day up C$0.11 at C$1.05.

The interest in commodity stocks continues to be strong and that has pushed Canada’s big board well above the 10,000 point mark. We shall see what Wednesday trading has in store.

Source: Resource Stock Roundup:Wednesday, May 27th, 2009

Exeter Resource (AMEX:XRA) tagged an impressive 488 metres running 1.3 grams gold per tonne and 0.44% copper at its Caspiche project in Chile. Exeter ended the session up C$0.03 at C$2.78.

Shares of beaten-down Gold Hawk Resources added C$0.015 at C$0.035 after the company announced it has inked a deal to restructure its debt. Gold Hawk signed an indicative term sheet with one of its lenders to provide the Company with $2 million of new funds, repay the existing bank debt and restructure all of the loans under one new $13 million loan facility.

Central Sun Mining (AMEX:SMC) agreed to be bought by B2Gold and agreed to pay C$1 million as termination fee to Linear Gold, which had made an earlier offer. Central Sun ended the session down C$0.03 at C$0.82, B2Gold closed down C$0.09 at C$0.74 and Linear Gold added C$0.02 at C$0.97.

Mirabela Nickel got a boost after reporting that its Santa Rita project in Brazil holds proven and probable reserves of 121 million tonnes grading 0.60% nickel. Mirabela ended the day up C$0.23 at C$1.27.

Strong sell side sentiment dominated the first trading day of February, which suggests that new lows may be forthcoming. We will see what Tuesday trading has in store.

Source: Resource Stock Roundup:Tuesday, February 3rd, 2009