Kinross Gold (NYSE:KGC) tabled a fourth quarter loss of $968.8 million, or $1.47 per share thanks to a writedown associated with its $3 billion acquisition of Bema Gold two years ago. That’s down from the $173.1 million or $0.028 per share profit hit in the same period a year earlier. The major produced 550,221 gold equivalent ounces in the fourth quarter at cash costs of $375 per ounce. Kinross ended the day up C$0.04 at $24.43.

Agnico-Eagle Mines (NYSE:AEM) posted a profit of $21.9 million, or $0.15 per share for the fourth quarter. That is less than the $65.2 million or $0.46 per share recorded in the same period of 2007. The company had record gold production of 89,360 ounces in the fourth quarter and posted record annual gold production of 276,762 ounces. Agnico ended the day down C$1.30 at C$67.30.

It was a rough day for shareholders of Redcorp Ventures as the junior reported that construction activities at the Tulsequah Chief mine project in British Columbia will remain suspended. The suspension is a result of rising capital costs and falling metal prices. Redcorp ended the session down C$0.03 at C$0.01.

Gold miner La Mancha Resources added C$0.04 to close at C$0.44 after the company said it expected to produce between 85,000 and 100,000 ounces in 2009 at a cash cost of $497 per ounce.

Condor Resources added C$0.03 to C$0.13 after the company reported that a drill hole, completed by a major international mining company without the knowledge or consent of Condor on its Austral property in Chile, collared within an adjacent mineral claim and terminated in claims staked and owned 100 per cent by Condor cut 266 metres running 0.25% copper.

The financial stocks hit new 52-week lows and appeared poised to move lower ahead of the release of fourth quarter earnings. We will see what Thursday trading has in store.

Source: Resource Stock Roundup: Thursday, February 19th, 2009

For the tale of the tape, the TSX Exchange fell 0.69%, while the TSX Gold Index gave back 2% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, dropped 0.16% with the declining issuers out pacing the advancers by a 534 to 471 margin on more normal volume of 222 million shares traded.

Shares in Potash North Resource finally took a rest after a string of positive sessions. The company dropped C$0.86 to close at C$3.20.

Another potash player, Raytec Metals announced a C$17 million financing comprising 10 million units at C$1.20 per unit and 3,571,500 flow-through common shares at a price of C$1.40 per flow-through share. A unit holds one share and one warrant, which is exercisable at C$1.60 for a period of two years. Raytec ended the day down C$0.20 at C$1.62.

On a percentage basis, it was a good day for the beleaguered shareholders of Constellation Copper. The financially troubled company got a boost after Jaguar Financial and an unidentified partner announced that they now hold a 9.9% equity position in Constellation and that they had made a restructuring proposal. Constellation ended the day up C$0.03 at C$0.06.

Hathor Exploration closed its C$15 million bought deal financing at C$3 per share and is now cashed up to advance the roughrider uranium zone in Saskatchewan. Hathor ended the day up C$0.27 at C$2.90.

A stock to watch is Redcorp Ventures. Shares in the junior, best known for its advanced Tulsequah Chief massive sulphide project in British Columbia and its problems with getting trapped in the asset backed commercial paper market, was halted pending news at C$0.205.

The junior bourse is feeling a little overextended with good trading volumes not pushing the market higher. Is it the calm before the storm? We will see what Friday trading has in store.

Source: Resource Stock Roundup Friday, June 13, 2008