For the tale of the tape, the TSX Exchange gave back a modest 0.09%, while the TSX Gold Index surged 2.6% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.93% with the advancing issuers beating the decliners by a 571 to 447 margin on good volume of nearly 248 million shares traded.

It was a good day for shareholders of Cash Minerals as the company announced a strategic review to reassess the economic potential of the Division Mountain coal property in the Yukon, which hosts a measured resource of 52.5 million tonnes of high-volatile B bituminous thermal coal. Cash ended the day up C$0.055 at C$0.27.

Shares in Potash North Resource rallied for the third straight day following news that the Saskatchewan Mines Branch has issued a potash permit covering 91,000 acres. The company added C$0.48 to close at C$2.55.

Canplats Resources moved C$0.02 higher to close at C$4.92 after investors digested the latest results from the Represa zone on the Camino Rojo project in Mexico. Highlights included 292 metres running 1.16 gram gold, 11.65 grams silver per tonne, plus 0.4% zinc.

X-Terra Resources remained halted at C$2.21 but the company did table news that Brownstone Ventures will acquire a 50 percent interest in applications for some 150,000 hectares of land in the Quebec lowlands, prospective for gas shales. Brownstone will issue two million shares and two million warrants, which are exercisable at a price of C$2 for two years. Brownstone also agreed to purchase 850,000 units in X-Terra.

It was a strong end to the trading week as investors are banking that the junior market is ready for a Summer rally. We will see what Monday trading has in store.

Source: Resource Stock Roundup: Saturday, June 7th, 2008

For the tale of the tape, the TSX Exchange lost 0.26%, while the TSX Gold Index gave back 0.7% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.09% with the declining issuers beating the advancers by a 550 to 490 margin on robust volume of nearly 255 million shares traded.

Arctic Star Diamond Corp., WSR Gold Inc. and Metalex Ventures tabled visual estimates for their joint venture project some 45 kilometres north of Noront resource’s Eagle One discovery in Ontario’s James Bay lowlands. Of particular interest is hole 5.01-06 that cut 95 metres of near massive sulphide. Results are still pending. Arctic Star ended the day down C$0.01 at C$0.135, Metalex closed up C$0.02 at C$0.385 and WSR added C$0.13 to close at C$0.79. It is worth noting that WSR can earn 50% of the property by spending C$20 million over 4 years and currently Metalex, which is run by legendary Canadian diamond finder Charles Fipke, owns 91.5% and Arctic 8.5%.

Word that the Saskatchewan Mines Branch has issued a potash permit covering 91,000 acres to Potash North Resource drove the junior’s share price C$1.34 higher to C$1.54.

Despite the healthy volume, it was another generally quiet trading day. We will see what Thursday trading has in store.

Source: Resource Stock Roundup: Thursday, June 5th, 2008