The Hudbay takeover saga just got a tad more interesting after Jaguar Financial announced that it would offer Hudbay shareholders the cash value of Hudbay, less a 1% fee estimated at C$5.40 per share, plus the cash from the remaining assets of Hudbay under a sale. HudBay Minerals and Lundin Mining (NYSE:LMC) have inked a friendly deal that would have Lundin shareholders getting 0.3919 of a Hudbay share for each Lundin share held. Hudbay ended the day up C$0.15 at C$3.31, while Lundin lost C$0.10 to close at C$0.95 and Jaguar Financial closed down C$0.005 at C$0.07.

Sherwood Copper made C$12.1 million in the third quarter after excluding adjustments to unrealized forward sales and other non-cash adjustments. Copper production from its Minto operation tallied 7.3 million pounds of payable copper with total cash costs ringing in at $2.10. Sherwood, which became Capstone Mining as of Monday, ended the session up C$0.22 at C$0.90.

NovaGold Resources (AMEX:NG) hit the wall after announcing that it has to repay a $20 million loan by December 29 and has only $10 million in the bank. The part owner of the Donlin Creek project in Alaska and the Galore Creek project in British Columbia will pony up its cash call for Donlin but not Galore. NovaGold closed down C$1.48 at C$0.72.

Canplats Resources tallied a measured and indicated resource of 3.445 million ounces grading 0.66 gram gold per tonne at its Represa zone in Mexico. Canplats ended the day up C$0.15 at C$1.39.

The junior board appears to be forming some sort of bottom at around the 700 point mark. Let’s hope that tax loss selling does not prompt a serious breach of this already beaten down level. We will see what Tuesday trading has in store.

Source: Resource Stock Roundup: Tuesday, November 25th, 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