For the tale of the tape, the TSX Exchange tacked on 1.74%, while the TSX Gold Index climbed 2.2% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.38% with the declining issuers beating out the advancers by a 427 to 419 margin on volume of 119 million shares traded.

Venezuelan gold miner Rusoro Mining (CVE:RML) went shopping and elected to put a bid in on Gold Reserve. The offer is two Rusoro shares for each Gold Reserve (AMEX:GRZ) share for a value of about $90 million. Gold Reserve came out swinging saying that the offer is inadequate given its cash position and its 10.2 million ounces of gold and 1.4 billion pounds of copper at its Brisas project in Venezuela. Rusoro ended the day unchanged at C$0.80, while Gold Reserve closed up C$0.10 at C$1.58.

A state clean water initiative aimed to stop development of the huge Pebble copper-gold project in Alaska has gone down to defeat. This is good news for all Alaskan explorers and especially for shares of Northern Dynasty Minerals (AMEX:NAK), which rallied C$1.14 to close at C$6.67.

On the energy front, shares of Transeuro Energy (CVE:TSU) added C$0.125 to close at C$0.395 after the junior reported that joint operations are under way to test the deeper shales in the Liard basin in northeast British Columbia.

More rough earnings came out from the Canadian banks during Wednesday and indications are the financial crisis for the banks are far from over. We will see what Thursday trading has in store.

Source: Resource Stock Roundup: Thursday, August 28th, 2008

For the tale of the tape, the TSX Exchange rallied 0.98%, while the TSX Gold Index added 2.7% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, tacked on a modest 0.47% with the declining issuers continuing to swamp the advancers this time by a 549 to 397 margin on abysmal volume of only 116 million shares traded.

Another problem hit Inmet Mining (IMN) at its 70% owned Las Cruces copper project in Spain, as an unexpected ground movement occurred at its newly constructed storage site for dried residue from the process plant. This will more than likely delay the development of the mine, which already faced problems in May when Spanish authorities suspended authorization for the dewatering and groundwater reinjection system. Investors did not mind the news on an up market day as Inmet closed up C$0.99 at C$64.14.

Tamerlane Ventures (TAM) cut 40.7% combined lead-zinc over 34 metres on its Pine Point property in the Northwest Territories and ended the day up C$0.05 at C$0.60.

Belvedere Resources (BEL) hit 61.49 metres running 0.59% nickel and 0.17% copper at its Hitura nickel mine in central Finland. The junior ended the day at C$1.25 for a C$0.12 gain.

Shares of Rusoro Mining (RML) added C$0.15 to C$1.20 after the company announced that it has been selected as the partner of choice by the Venezuelan Government for gold mining opportunities in that country. The Venezuelan Government also approved its previously announced acquisition of Hecla Mining’s Venezuelan assets.

Bottle roll testing of nine composite samples from the Los Planes gold zone in Mexico have returned decent values for Pediment Exploration. The average gold recovery for all the composites after 96 hours of testing was 78.5%. Not stellar but not bad either. Pediment ended the day down a penny at C$1.50.

On the uranium front, Uracan Resources (URC) added C$0.035 to close at C$0.465 after cutting 12.7 metres running 0.142% U308 from its 100-per-cent-owned Pipewrench Lake property in Saskatchewan.

Volatility seems to be the name of the game with the bears firmly in control of the longer term trend. Gold is showing signs of potentially breaking out and if so, will that be the catalyst for the beleaguered junior exploration stocks? We will see what Friday trading has in store.

Source: Resource Stock Roundup Friday July 11, 2008