UTS Energy shareholders have rejected the C$1.75 cash per share offer tabled by Total E&P Canada. As a result, Total has terminated the offer. UTS ended the session down C$0.06 at C$1.52.

Petro-Canada (NYSE:PCZ), which is in the midst of merger with Suncor (NYSE:SU), reported a first quarter loss of $47 million or $0.10 per share. Petro-Canada ended the day up C$0.07 at C$37.65.

NovaGold Resources (AMEX:NG) tabled a feasibility study for its 50 percent owned Donlin Creek project in Alaska. The study envisions a 53,500 tonne per day operation producing 1.6 million ounces of gold at a cash cost of $394 per ounce over the first five years of a 21 year mine life. At $900 per ounce for gold, the net present value at a 5 per cent discount rate is $1.5-billion with an internal rate of return of 9.4 per cent. NovaGold ended the day up C$0.05 at C$3.29.

Timminco managed to tack on C$0.19 to close at C$1.77 after the solar silicon supplier inked a financing deal with its controlling shareholder, AMG Advanced Metallurgical Group N.V. Under the proposal, AMG will purchase about 7.4 million common shares at a price of C$2.02 per share for a cool C$15 million.

Western Canadian Coal announced that it has secured enough sales contracts for the fiscal year ending March 31, 2010 to continue mining operations at the Wolverine operation and Brule mine in British Columbia. Western added C$0.18 to close at C$0.96.

Romarco Minerals failed to get a lift despite hitting more goodies at its Haile mine project in South Carolina. The latest included 5.1 grams gold per tonne over 54.9 metres. Romarco ended the session down C$0.02 at C$0.53.

The junior board failed to stay above the 1,000 point resistance mark and with the summer doldrums fast approaching trading volumes should start declining. We shall see what Wednesday trading has in store.

Source: Resource Stock Roundup: Wednesday, April 29th, 2009

Romarco Minerals says that its Haile Gold Mine project in South Carolina boosts a net present value of $250 million at $750 per ounce gold and could generate 128,000 ounces of gold per year at cash costs of $450 per ounce. Capital costs ring in at $153 million. Romarco ended the session unchanged at C$0.275.

Verena Minerals boosted the resources at its Volta Grande project in Brazil. The indicated resources tally 11 million tonnes grading 1.48 grams gold per tonne, while the inferred resources hit 23.5 million tonnes grading 1.29 grams gold per tonne. Verena was flat on the session at C$0.095.

Sanu Resources tabled an indicated resource of 10.7 million tonnes grading 2.25 per cent zinc, 0.98 per cent copper, 6.84 grams silver and 0.2 gram gold per tonne and an inferred resource of 17 million tonnes grading 1.74 per cent zinc, 0.85 per cent copper, 5.89 grams silver and 0.19 gram gold per tonne on its Hambok project located in western Eritrea. Sanu closed up a penny at C$0.19.

Relevant news flow has been a little bit light during these first few days of February. Let’s hope the trading action picks up. We will see what Wednesday trading has in store.

Source: Resource Stock Roundup:Wednesday, February 04th, 2009

Shares of Andean Resources added C$0.24 to close at C$0.94 after the company announced a 32 metre drill intercept running 34.6 grams gold and 214 grams silver per tonne from its Cerro Negro project in Argentina.

International Tower Hill Mines (AMEX:THM) tabled an updated resource for its Livengood gold project in Alaska. The indicated resource tallies 128.6 million tonnes running 0.83 grams gold per tonne and the inferred resource came in at 142.1 million tonnes grading 0.74 grams gold per tonne. Despite the 70% jump over the earlier resource, International ended the day up a modest C$0.02 at C$2.45.

Romarco Minerals tagged 6.9 grams gold per tonne over 60.6 metres at its Haile Mine property in South Carolina. Romarco ended the session down C$0.035 at C$0.295.

Optimism is coming back into the overall markets and that has been a negative for the gold guys. We will see what Thursday trading has in store.

Source: Resource Stock Roundup:Thursday, January 29th, 2009

It was a rough day for two of the world’s largest undeveloped gold deposits. First off, Gabriel Resources announced that the Romanian Supreme Court annulled the Rosia Montana Archaeological Discharge Certificate. This decision of the court is final, is not appealable and brings to a close a series of court challenges that started in 2004. Gabriel, which closed down C$0.20 at C$1.05, must now seek a new certificate.

Next was Greystar Resources. The company reported a 13.8% increase in measured and indicated resources for its wholly-owned, multi-million ounce Angostura gold-silver project in northeastern Colombia. The measured and indicated categories now hold 11.55 million ounces of contained gold. That said, an early morning trading “situation” drove the stock down to C$0.05. These trades were subsequently wiped out and were reset at C$0.72. By the end of the session Greystar added C$0.03 to close at C$0.89 on more than 2 million shares traded.

Romarco Minerals managed to gain C$0.01 to close at C$0.14 after reporting a 71 metre intercept running 2.8 grams gold per tonne at its Haile gold mine property in South Carolina.

The winning streak ends at two and economic uncertainty suggests that we will go lower before moving higher. That said, several well-known pundits have called a bottom. We will see what Wednesday trading has in store.

Source: Resource Stock Roundup: Wednesday, December 10th, 2008

Hathor Exploration (CVE:HAT) came out with ore stellar numbers from its Roughrider zone on the Midwest NorthEast property in northern Saskatchewan. The latest included 23 metres running 11.23% U308. Hathor ended the day up C$0.05 at C$2.29, while 10% owner Terra Ventures was unchanged at C$0.43.

Sherwood Copper (CVE:SWC) discovered a new high grade copper-gold zone at its Minto Mine in the Yukon. Located only 800 metres from the open pit and 200 metres from the proposed area 2 open pit area, the Copper Keel discovery yielded 2.07% copper and 0.86 gram gold per tonne over 24.5 metres. Sherwood ended the day at C$2.07 for a C$0.38 gain.

Romarco Minerals (CVE:R) cut 4.9 grams gold per tonne over 98 metres at its Haile Mine in South Carolina. The news sent Romarco shares up C$0.015 at C$0.165.

Gammon Gold (NYSE:GRS) produced 34,096 ounce of gold and just over 1.37 million ounce of silver from its Ocampo operation in Mexico during the third quarter. The company, which added C$0.81 to close at C$4.51, also discovered a new underground vein, dubbed San Amado.

It was a good day for shareholders of Iamgold as the mid-tier gold miner added C$0.66 to close at C$4.60 on the rising gold price.

That’s six winning sessions in a row for the junior bourse with buyers starting to line up on the more beaten down speculative issues. We will see what Wednesday trading has in store.

Source: Resource Stock Roundup…Wednesday, November 05th, 2008

For the tale of the tape, the TSX Exchange added 0.78%, while the TSX Gold Index gained 1.2% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, rallied 1.63% with the advancing issuers inching past the decliners by a 492 to 483 margin on modest volume of 142 million shares traded.

Phoenix Coal (PHC) surged out of the gate having completed its merger with capital pool company, Marimba Capital (MRA.P). The United States coal miner raised C$110 million and ended the day up C$1.46 at C$2.04 on more than 16 million shares traded.

Romarco Minerals cut 17.8 metres of 3.1 grams gold per tonne at the Haile mine in South Carolina. The junior ended the day up C$0.015 at C$0.215.

Shares of San Gold rallied on no new developments. The Manitoba gold miner is drilling off the high-grade Hinge deposit. San Gold ended the session up C$0.13 at C$2.22.

It was a good day for the uranium producers with Cameco (CCO) leading the charge with a C$3.10 gain to close at C$43.80.

Well, the month of June is now in the review mirror, and after a rough month the last day offered some solace to investors. The Canadian markets are closed on Tuesday, so we will see what Wednesday trading has in store.

Source: Resource Stock Roundup Tuesday July 1, 2008