Silver Wheaton (NYSE:SLW) has stepped up to the plate and is offering up 0.185 of its shares for each share of Silverstone Resources. The proposal values Silverstone at C$1.59 per share. In return, Silver Wheaton gains Silverstone’s silver stream agreements with Capstone Mining’s Minto copper-gold-silver mine in Yukon and its Cozamin copper-silver-lead-zinc mine in Mexico. Silver Wheaton closed the day at C$8.08 for a C$0.14 gain and Silverstone closed C$0.20 higher at C$1.45.

Largo Resources came out with an updated resource model for the Northern Dancer tungsten-molybdenum project in the Yukon. The latest tally shows measured resources of 30.8 million tonnes grading 0.114% WO3 and 0.030% molybdenum, indicated resources of 192.6 million tonnes grading 0.100% WO3 and 0.029% molybdenum and an inferred resource of 201.2 million tonnes grading 0.089% WO3 and 0.024% molybdenum. Largo ended the session down C$0.005 at C$0.075.

Donner Metals discovered massive sulphide mineralization in the Daniel-1 area just 16 kilometres northwest of Xstrata’s operating Perseverance mine and 26 kilometres northwest of the Matagami mill in Quebec. The discovery hole returned 3.95 metres grading 2.20 per cent copper, 0.09 per cent zinc, 8.8 grams silver per tonne and 0.25 gram gold per tonne. Donner closed flat at C$0.16.

Optimism that the worst of the economic turmoil is over had investors bidding up equities for the third straight session. We will see what Friday trading has in store.

Source: Resource Stock Roundup: Friday, March 13th, 2009

Silverstone Resources sold 1,669,000 ounces of silver in 2008. The silver-gold royalty company recently purchased all of the payable gold and silver from the Minto mine in the Yukon and received advance payments on approximately 3,700 ounces of payable gold and 33,000 ounces of payable silver from the Minto mine as at Dec. 31, 2008, which will be recorded in the first quarter. Silverstone ended the day up C$0.09 at C$0.94.

Coming off of more hot results from its Caspiche gold copper project in Chile, Exeter Resources (AMEX:XRA) locked in a bought deal financing of C$25.2 million by issuing 10.5 million shares at C$2.40 a piece. Exeter ended the day down C$0.07 at C$2.80.

Finally a flash from the bull market past with Can Alaska Uranium reporting grab samples of up to 46.9 grams gold, 19.7 grams platinum and 20.8 grams palladium on its Poplar project in the Athabasca Basin of Saskatchewan and its share price surged C$0.045 to C$0.17.

Speculation is that the United States will unveil a very positive economic stimulus package on Monday. After a three-day rally, if the market is disappointed with the outcome, look out below. We will see what Monday trading has in store.

Source: Resource Stock Roundup: Monday, February 9th, 2009

It was a good day for Peregrine Diamonds after the company reported that it discovered a gem quality 2.01 carat stone from a 2.28 tonne sample collected from the CH-1 kimberlite on the Chidliak property in Canada’s north. Peregrine ended the session at C$0.395, for a C$0.06 gain.

Rolling Rock Resources bounced off the mat to close at C$0.035 for a C$0.015 gain. The junior announced that its Monument Bay deposit in Manitoba hosts just over 1.2 million ounces of gold.

Firestone Ventures came out with a 1.89 million tonne measured and indicated resources grading 10.55% zinc equivalent at its Torlon deposit in Guatemala. Firestone ended the session up C$0.025 at C$0.085.

Silverstone Resources sold 386,000 ounces of silver in the third quarter from its royalty stream. The cost of the ounces tallied $3.97. Silverstone ended the day up C$0.015 at C$0.48.

Western Prospector Group has officially launched legal proceeding against Tinpo Holdings Industrial Company Limited and others in connection with the failure of Tinpo to perform its obligations under the Support Agreement dated July 15, 2008 that called for Tinpo to acquire Western Prospector at C$1.34 per share. Western ended the day up C$0.005 at C$0.17.

Partners Astral Mining and Kootenay Gold tagged 21.04 grams gold per tonne over 4 metres at the Jumping Josephine project in south-eastern British Columbia. Astral ended the session up C$0.03 at C$0.095, while cash-rich Kootenay closed unchanged at C$0.46.

The intraday volatility continues at an extreme level with sentiment still pushing to the downside. We will see what Wednesday trading has in store.

Source: Resource Stock Roundup: Wednesday, November 19th, 2008