For the tale of the tape, the TSX Exchange added 0.20%, while the TSX Gold Index was the big winner by jumping 2.8% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, dropped 0.71% with the declining issuers beating out the advancers by a 504 to 350 margin on pathetic volume of 84 million shares traded.

Shares of Yukon-Nevada Gold (YNG) got hammered for the second time in as many weeks as the company faces a liquidity issue at its Jerritt Canyon gold mine in Nevada. On August 8 Yukon Nevada Gold suspended underground mining. The junior ended the session down C$0.15 at C$0.13.

Aquila Resources (AQA) moved higher thanks to results from its Back Forty Project in Michigan. Highlights included 14.6 grams gold and 285.8 grams silver per tonne over 2.1 metres. Aquila ended the day up C$0.01 at C$0.28.

Longview Capital Partners (LV) lost C$3.9 million or C$0.04 per share in the three-month period ended June 30, compared to a loss of C$17.1 million or C$0.16 per share in the same period of 2007. The investor in junior exploration plays held stock valued at C$72.6 million, down from C$105.6 million at the end of 2007. Longview ended the session at C$0.155, down C$0.005

A stock to watch is ATAC Resources (ATC). The junior was halted from trading pending news at C$0.32. The news is that all the holes reported to date at its wholly owned Rau property in the Keno Hill district of central Yukon have hit the goodies. The latest includes 78.54 metres grading 1.71 grams gold per tonne. The discovery drill hole returned 1.24 grams gold per tonne over 68.69 metres.

Most of the junior companies appear to be keeping their heads down on the news front these days because even good results are getting treated with distaste. This is often the sign of a bottom but we will see what Tuesday trading has in store.
Source: Resource Stock Roundup Tuesday, August 19, 2008