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Resource Stock Roundup: Friday, June 12th, 2009

Doug Casey — Fri, 12 Jun 2009 20:00:26 +0000

The Canadian markets continued to fire on almost all cylinders with only the gold sector bucking the positive trend. For the tale of the tape, the TSX Exchange added 1.10%, while the TSX Gold Index lost another 0.8% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, gained 0.52% with the advancers swamping the decliners by a 498 to 389 margin on a robust 233 million shares traded.
Oro Gold Resources (CVE:OGR)tagged 30 metres grading 6.3 grams gold per tonne from the latest batch of results at its Taunus target on its Trinidad property in Mexico. Oro ended the day down C$0.07 at C$0.83.

It was a good day for shareholders of Olympus Pacific Minerals (OTC:OLYMF) as the miner poured 2,574 ounces of gold from its Vietnam operation in the month of May. Olympus ended the session up C$0.045 at C$0.295.

Shares of US Gold (AMEX:UXG) added C$0.15 to close at C$2.93 after the company tabled drill results from its El Gallo project in Mexico’s Sinaloa state. Highlights included 1,082.4 grams silver per tonne over 31.7 metres and 352.7 grams silver per tonne over 43.7 metres

Exploration drill results are starting to attract buyers and that is good news for the cash-starved junior exploration companies. We shall see what Friday trading has in store.

Source: Resource Stock Roundup: Friday, June 12th, 2009

Resource Stock Roundup Tuesday, October 7, 2008

Doug Casey — Tue, 07 Oct 2008 14:54:49 +0000

The massive liquidation of equities resumed with a vengeance during Monday trading on the Canadian Markets. For the tale of the tape, the TSX Exchange lost 5.30%, while the TSX Gold Index fell 6.3% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, dropped 12.78% with the declining issuers swamping the advancers by a 1,008 to 129 margin on big volume of 235 million shares traded.

Shares of Pacific Iron Ore (POC) dropped C$0.20 to close at C$0.29. The junior recently tabled the results from seven diamond drill holes from its Pearson project on Vancouver Island, British Columbia.

Formation Capital (FCO) reported that the record of decision on its Idaho cobalt project has been remanded by the U.S. Forest Service. Formation closed down C$0.125 at C$0.24.

On a rare positive note, Oro Gold Resources (OGR) cut 61.1 metres running 8.5 grams gold per tonne at its Trinidad property some 110 kilometre east of Mazatlan, Mexico. Oro ended the day up C$0.09 at C$0.38.

ATW Venture (ATW) hit 23.7 metres grading 16 grams gold at its Burnakura gold mine in Western Australia. ATW ended the day up C$0.01 at C$0.445.

The market meltdown is continuing, with the junior bourse marking the hardest hit. The TSX Ventures is now within striking distance of its 2002 low of 890. We will see what Tuesday trading has in store.

Source: Resource Stock Roundup Tuesday, October 7, 2008