For the tale of the tape, the TSX Exchange lost 0.95%, while the TSX Gold Index fell 6.80% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 4.04% with the advancing issuers swamping the decliners by a 483 to 368 margin on volume of 161 million shares traded.

Goldcorp tabled third quarter earnings of $297 million or $0.42 per share thanks to a big foreign exchange gain and stronger gold prices. Taking out the $240 million foreign exchange gain, profit fell to $64.7 million or $0.09 a share, from $82.3 million, or $0.12 a share in the same period in 2007. Goldcorp ended the day down C$1.98 at C$22.54.

High River Gold Mines (HRG) moved a step closer to bankruptcy after announcing that delays in getting its Taparko-Bouroum mine into commercial production has put one of its subsidiaries in breach of its financial covenants. Financial problems also put plans to purchase remaining 50 per cent of Prognoz silver project in Russia off until at least the end of November. High River ended the day down C$0.03 at C$0.11.

It was a good day on no news for Midway Gold (MDW). The company is currently raising C$2.75 million priced at C$0.22 per unit, which holds one share and one C$0.28 warrant. Midway ended the day up C$0.17 at C$0.47.

Investors in the more speculative exploration stocks are breathing a sigh of relief because buyers appear to be back bottom feeding in the sector. We will see what Monday trading has in store.

Source: Resource Stock Roundup Monday, November 3, 2008

Fording Canadian Coal Trust (FDG) continued to slide on worries that the credit crunch will put a crimp in Teck Cominco’s takeover offer set to close in October. Fording ended the day down C$0.67 at C$81.16, while Teck closed at C$35.38, down C$1.26.

Speaking of takeover flops, Midway Gold’s (MDW) proposed merger with Golden Predator Mines has been shelved. No reason was given. Midway ended the session down C$0.18 at C$0.82, while Golden Predator lost C$0.15 at C$0.80.

Happy Creek Minerals (HPY) managed to lose C$0.01 to close at C$0.28 despite reporting a 135 metre drill intercept running 0.43% copper at its Rateria property in British Columbia.

Inca Pacific Resources (IPR) fell C$0.10 to close at C$0.55 with more then 3 million shares traded. The company is moving forward with its Magistral copper molybdenum project in Peru.

Meanwhile, shares in Dynamite Resources saw action on no news. The company has been drilling the Mike Lake copper-gold project in the Yukon with two rigs all summer and recently added a third but has yet to release results. Dynamite ended the day down C$0.02 at C$0.0115.

VMS Ventures (VMS) managed to tack on C$0.055 to close at C$0.42 after tabling a 53.19 metre drill intercept running 3.08% copper at its Reed Lake Discovery zone in Manitoba.

Liquidation is the name of the game with even cash rich companies getting the punt from investors’ portfolios. We will see what Wednesday trading has in store.

Source: Resource Stock Roundup Wednesday, September 17th, 2008

For the tale of the tape, the TSX Exchange fell 0.32%, while the TSX Gold Index (TSE:XGD) dropped 1.6% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, lost 1.10% with the declining issuers continuing to swamp the advancers this time by a 523 to 414 margin on volume of 136 million shares traded.

Golden Predator Mines (TSE:GP) and Midway Gold (AMEX:MDW) have inked a deal to merge. Under the initial terms, Golden Predator shareholders would receive one Midway share for each Golden Predator share held. Midway would then change its name to Golden Predator. The move would create a company with numerous advanced projects in Nevada. Midway ended the day down C$0.03 at C$1.87, while Golden Predator was unchanged at C$1.70.

Latin American Minerals got a boost after discovering 10 diamonds, ranging in size from 0.002 to 0.04 carat, on its Capiibary diamond exploration property in northeastern Paraguay. Latin ended the day up C$0.18 at C$0.45.

Tyhee Development (CVE:TDC) says that its Yellowknife gold project in the Northwest Territories has a pre-tax net present value of $145 million and would generate a pre-tax internal rate of return of 21.3% using a gold price of $750 per oz. and a 5% discount rate. The proposed 3,000 tonne per day combined open pit and underground operation would produce 165,000 ounces of gold annually for the first seven years. Tyhee ended the day flat at C$0.415.

Shares of Medoro Resources (CVE:MRS) added C$0.01 to close at C$0.21 after the junior tabled 16.5 grams gold per tonne over 11.9 metres at its Lo Increible gold project in Venezuela.

Thoughts that the worst is over for the more speculative stocks was short lived after Thursday trading. We will see what Friday trading has in store.

Source: Resource Stock Roundup: Friday, July 18th, 2008