For the tale of the tape, the TSX Exchange added 1.03%, while the TSX Gold Index fell 4.1% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, lost 4.73% with the declining issuers out pacing the advancers by a 650 to 266 margin on volume of 190 million shares traded.

Teck Cominco (NYSE:TCK) tabled earnings of C$432 million, or C$0.97 per share in the third quarter of 2008, compared with C$495 million, or C$1.16 per share tallied in the same period a year earlier. The bottom line was hit by lower copper and zinc prices with higher coal operating profits limiting the impact. Teck ended the day down C$1.78 at C$12.54.

Potash Corp. of Saskatchewan (NYSE:POT) saw its third quarter earnings increase five fold to C$1.24 billion, or C$3.93 per share. To put things in perspective, that exceeded the C$1.1-billion earned in the entire 2007. Potash ended the day up C$3.07 at C$85.99.

Shares of one time high-flyer Noront Resources (CVE:NOT) continued to free fall, dropping C$0.28 to close at C$0.66. The company is in the midst of a proxy fight and just tabled a positive scoping study for development of its Eagle One copper-nickel-platinum deposit in Ontario.

Augusta Resource (AMEX:AZC) tabled a new resource calculation and better metallurgy results from its Rosemont copper project in Southern Arizona. The recovery for molybdenum came in at 70-75%, silver recovery was 80-82% and copper recoveries tallied 84-86%. Augusta closed down C$0.06 at C$1.45.

New Gold produced 68,801 ounces of gold at total cash costs of $566 per ounce in the third quarter. Silver output hit 282,055 ounces and copper production was 2.37 million pounds. New Gold ended the day down C$0.45 at C$1.28.

Things could get awfully dicey for the junior exploration stocks with tax loss season drawing ever closer in a weak liquidity environment. Keep your hard hats on and we will see what Friday trading has in store.

Source: Resource Stock Roundup: Friday, October 24th, 2008

For the tale of the tape, the TSX Exchange lost 0.25%, while the TSX Gold Index (TSE:XGD) surged 5.1% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, gained 0.34% with the declining issuers continuing to swamp the advancers this time by a 536 to 414 margin on weak volume of only 125 million shares traded.

Shares of Noront Resources (CVE:NOT) surged C$0.40 to close at C$2.72. The company recently tabled initial resource calculations for its Eagle One project in Ontario’s James Bay Lowlands. Indicated resources tally 1.834 million tonnes running 1.96% nickel, 1.18% copper, 3.91 grams palladium, 1.12 grams platinum and 0.15 gram gold per tonne. The inferred resource came in at 1.087 million tonnes grading 2.39% nickel, 1.27% copper, 4.5 grams palladium, 1.37 grams platinum and 0.13 gram gold per tonne.

Newly minted Zinccorp Resources came out of the trading gate by announcing a silver discovery at its wholly owned Michelle property in the central Yukon. The hot hole returned 22.72% zinc, 17.38% lead and 510.7 grams silver per tonne over 7.94 metres. A 2,500 metre drill program is underway. Zinccorp ended the week up C$0.09 at C$0.32.

The big board gold miners posted a stellar day with Barrick Gold (NYSE:ABX) surging C$2.81 to close at C$50, Goldcorp (NYSE:GG) added C$2.66 to close at C$49, Kinross Gold (NYSE:KGC) ended the day up C$1.09 at C$23.77, Agnico Eagle (NYSE:AEM) added C$3.15 to close at C$77 and Yamana Gold (NYSE:AUY) tacked on C$1.04 to close at C$15.10.

The equities markets are looking ugly as we head into the middle of July. The gold producers got a lift on rising bullion prices but the exploration companies continue to struggle. We will see what Monday trading has in store.

Source: Resource Stock Roundup: Saturday, July 12th, 2008

The big news of the day was Inmet (IMN) Mining’s C$320 million all-cash bid for Petaquilla Copper (PTQLF). The move allows the advancement of the Petaquilla copper property in Panama where Petaquilla Copper says it owns 52 per cent of the project but Teck Cominco  (TCK) says it earned 26% of that in March after delivering a final commitment to participate in the mine. Inmet held a 48% stake. Inmet ended the day up C$0.99 at C$64.51, while Petaquilla added C$0.98 to close at C$1.94 and Teck Cominco fell C$0.94 to C$43.38.

Shares of Noront Resources (NOT) lost C$0.08 to close at C$2.62 after investors digested the initial resource calculations for its Eagle One project in Ontario’s James Bay Lowlands. Indicated resources tally 1.834 million tonnes running 1.96% nickel, 1.18% copper, 3.91 grams palladium, 1.12 grams platinum and 0.15 gram gold per tonne. The inferred resource came in at 1.087 million tonnes grading 2.39% nickel, 1.27% copper, 4.5 grams palladium, 1.37 grams platinum and 0.13 gram gold per tonne.

Is this the beginning of a rather nasty correction in resource stocks or simply a buying opportunity? Either way the current markets are not for the faint of heart. We will see what Tuesday trading has in store.

Source: Resource Stock Roundup Tuesday, July 8, 2008

For the tale of the tape, the TSX Exchange lost 0.90%, while the TSX Gold Index (XGD) fell 1.1% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, managed to gain 0.13% with the advancing issuers out pacing the decliners by a 438 to 415 margin on inconsequential volume of only 96 million shares traded.

Noront Resources (NOT) tabled the initial resource calculations for its Eagle One project in Ontario’s James Bay Lowlands. Indicated resources tally 1.834 million tonnes running 1.96% nickel, 1.18% copper, 3.91 grams palladium, 1.12 grams platinum and 0.15 gram gold per tonne. The inferred resource came in at 1.087 million tonnes grading 2.39% nickel, 1.27% copper, 4.5 grams palladium, 1.37 grams platinum and 0.13 gram gold per tonne. Small as expected but investors will have the week end to think about because the stock was halted from trading pending this news at C$2.70.

African Aura Resources (AAZ) gained C$0.235 to close at C$0.39. The company reported that visible gold has been seen in drill core at the Kambele project in Cameroon.

Coal continued to attract interest with shares of Gold Star Resources (GDR) adding C$0.07 to C$0.49 on news that it has received confirmation of priority status from the Saskatchewan Ministry of Energy and Resources regarding its recent coal permit applications.

The Canadian equity markets continue to struggle with a notable drop off in trading volume. The weak period for the more speculative resource stocks appears to be upon us and the next six weeks could well be a challenge. We will see what Monday trading has in store.

Source: Resource Stock Roundup: Monday, July 7th, 2008