Contrarian Stock Market Investing News - Featuring Bargain Stocks » Merc International Minerals http://www.contrarianprofits.com Access market-beating ideas from the world's top investment gurus on stock market investing, the gold market, ETFs, Forex trading and real estate values. Mon, 10 May 2010 15:10:45 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Resource Stock Roundup:Tuesday, June 16th, 2009 http://www.contrarianprofits.com/articles/resource-stock-rounduptuesday-june-16th-2009/17965 http://www.contrarianprofits.com/articles/resource-stock-rounduptuesday-june-16th-2009/17965#comments Tue, 16 Jun 2009 19:05:19 +0000 Doug Casey http://www.contrarianprofits.com/?p=17965 Profit-taking was the name of the game during Monday trading on the Canadian Markets. For the tale of the tape; the TSX Exchange fell 2.35%, while the TSX Gold Index lost another 1.9% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, dropped 1.89% with the decliners swamping the advancers by a 585 to 300 margin on a robust 204 million shares traded.
Uranium One went shopping and elected to buy a 50% interest in the Karatau uranium mine in Kazakhstan from the Russian state-owned uranium mining company. The price tag is 117 million shares of Uranium One and a cash payment of $90 million. The deal also provides for a contingent payment of up to $60 million, payable in three…

]]> Profit-taking was the name of the game during Monday trading on the Canadian Markets. For the tale of the tape; the TSX Exchange fell 2.35%, while the TSX Gold Index lost another 1.9% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, dropped 1.89% with the decliners swamping the advancers by a 585 to 300 margin on a robust 204 million shares traded.
Uranium One went shopping and elected to buy a 50% interest in the Karatau uranium mine in Kazakhstan from the Russian state-owned uranium mining company. The price tag is 117 million shares of Uranium One and a cash payment of $90 million. The deal also provides for a contingent payment of up to $60 million, payable in three tranches over the period between 2010 and 2012 subject to certain post-closing tax related adjustments. Uranium One ended the day up C$0.12 at C$2.95.

Shares of Merc International Minerals added C$0.035 to close at C$0.35. The junior is about to commence drilling on its high-grade Damoti gold project in the Northwest Territories.

Ventana Gold continued to defy gravity with the latest news indicating that mineralization from its La Mascota zone of the La Bodega project in northeastern Colombia is metallurgical challenged but recoverable. Ventana ended the day up C$0.38 to C$5.28.

Appleton Exploration added C$0.44 to close at C$0.64 after tabling a reverse circulation drill hole that returned 192 grams gold per tonne over 10 metres on the Manalo project in Mali, West Africa.

International Northair Mines sparked some interest after reporting surface sampling of 25.3 metres running 362.7 grams silver per tonne from the La Boracha zone on the La Cigarra project in Mexico. International ended the day up C$0.01 at C$0.075.

The second half of June started off on a sour note with the strength in the United States dollar hurting commodities. Is the selloff a one day wonder or the start of a trend? We shall see what Tuesday trading has in store.


Source: Resource Stock Roundup:Tuesday, June 16th, 2009

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