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Resource Stock Roundup:Monday, July 27, 2009

Doug Casey — Mon, 27 Jul 2009 22:01:52 +0000

After posting nice returns earlier in the week, the Canadian markets took a well deserved rest during Friday trading. For the tale of the tape: the TSX Exchange tacked on 0.11%, while the TSX Gold Index fell 0.60%, and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.50% with the advancers beating out the decliners by a 415 to 373 margin on a modest 137 million shares traded.
Silvercorp Metals has terminated its unsolicited offer to acquire Klondex Mines but Paramount Gold and Silver (AMEX:PZG) is offering up 1.45 of its shares for each Klondex share. This would value the transaction at around C$80 million. Silvercorp ended the day down C$0.08 at C$3.85, Klondex closed up C$0.04 at C$1.90 and Paramount closed up C$0.02 at C$1.47.

Nevgold Resource announced that the drill rig will be turning on its Cordero gold project in Nevada. The junior is targeting high-grade feeders at around 450 meters depth. Nevgold ended the day unchanged at C$0.15.

The Evolving Gold story continued to evolve. The junior mobilized a fourth core drill rig to its Rattlesnake Hills property in Wyoming. Evolving Gold closed at C$1.29, for a C$0.18 gain.

The markets appear to be at a pivotal turning point with signs that an economic recovery is at hand driving buyers back into equities. We shall see what Monday trading has in store.

Source: Resource Stock Roundup:Monday, July 27, 2009

Resource Stock Roundup: Tuesday, December 2nd, 2008

Doug Casey — Tue, 02 Dec 2008 19:55:29 +0000

The Canadian Markets started off the month of December on a sour note with the bears once again coming out of hibernation to maul the bulls. For the tale of the tape, the TSX Exchange plunged 9.32%, while the TSX Gold Index fell 13.8% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, dropped 3.55% with the declining issuers outpacing the advancers by a 543 to 253 margin on volume of 144 million shares traded.

Waratah Coal added C$0.26 to close at C$1.51 after the company and Mineralogy Pty. Ltd. entered into a definitive support agreement, in conjunction with a revised offer by Mineralogy or a wholly owned subsidiary of Mineralogy to buy Waratah at C$1.60 per share in cash.

Animas Resources managed to add C$0.015 to close at C$0.415 after reporting an 8.5 metre drill intercept running 2.98 grams gold per tonne at its Berta area on its Santa Teresa project in Mexico.

Shares of Nuinsco Resources added C$0.005 to close at C$0.04 after Rainy River Resources bought the bonus payment and a royalty on claims that cover Rainy River’s core holdings in northwestern Ontario. The price tag was C$50,000 in cash and 200,000 shares. Rainy River ended the day down C$0.02 at C$0.68.

Paramount Gold and Silver (AMEX:PZG) reported that the Clavos 66 and 99 targets have inferred resources of 1.5 million ounces of gold equivalent on the San Miguel project in Chihuahua, Mexico. Paramount ended the day down C$0.01 at C$0.63.

A stock to watch during Tuesday trading is Mag Silver. After the close the company announced that a subsidiary of Fresnillo PLC, intends to make a formal offer to Mag Silver shareholders for all of the outstanding shares of Mag for $4.54 is cash. Mag closed at C$4.96, down C$0.96 on the day.

Not a good start to the tax loss selling month of December. We will see what Tuesday trading has in store.

Source: Resource Stock Roundup: Tuesday, December 2nd, 2008

Resource Stock Roundup Wednesday, September 3rd, 2008

Doug Casey — Wed, 03 Sep 2008 19:02:33 +0000

Investors came off the Labour Day weekend in a selling mood as a sharp drop in the price of bullion and oil propelled the resource-rich Canadian markets lower during Tuesday trading. For the tale of the tape, the TSX Exchange lost 3.23%, while the TSX Gold Index plunged 6.5% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 2.72% with the declining issuers swamping the advancers by a 588 to 312 margin on volume of 104 million shares traded.

Minera Andes (MAI) cut 63.63 grams gold per tonne and 1,158 grams silver per tonne over 1.94 metres at its producing San Jose mine in southern Argentina. Shares in Minera however followed the gold price lower by closing down C$0.10 at C$1.10.

Paramount Gold and Silver (PZG) lost C$0.05 to close at C$1.11 despite announcing a 2.2 metre interval running 26 grams gold per tonne at its San Miguel project in Mexico.

Paragon Minerals (PGR) added C$0.05 to close at C$0.24 after announcing that a geophysical survey on its South Tally Pond base metal project in Newfoundland identified several targets.

The resource stocks took it on the chin wiping out all the optimism that surrounded last week’s modest rally on the junior bourse. Not a good start to the trading month of September. We will see what Wednesday trading has in store.

Source: Resource Stock Roundup Wednesday September 3, 2008