Contrarian Stock Market Investing News - Featuring Bargain Stocks » Sprott Resource http://www.contrarianprofits.com Access market-beating ideas from the world's top investment gurus on stock market investing, the gold market, ETFs, Forex trading and real estate values. Mon, 10 May 2010 15:10:45 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Resource Stock Roundup: Tuesday, December 16th, 2008 http://www.contrarianprofits.com/articles/resource-stock-roundup-tuesday-december-16th-2008/10196 http://www.contrarianprofits.com/articles/resource-stock-roundup-tuesday-december-16th-2008/10196#comments Wed, 17 Dec 2008 01:25:00 +0000 Doug Casey http://www.contrarianprofits.com/?p=10196 The Canadian markets started the trading week off by going on their usual roller coaster ride with gains seen at the open gradually eroding into solid losses by the close of Monday trading. For the tale of the tape, the TSX Exchange fell 0.63%, while the TSX Gold Index gained 3.7% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, lost 0.24% with the declining issuers beating out the advancers by a 458 to 399 margin on volume of 244 million shares traded.

After making a stink ball bid earlier in the year, Rusoro Mining has come back and is offering three of its share for every Gold Reserve (AMEX:GRZ) share. The move would alleviate Gold Reserve’s problem in Venezuela because…

]]> The Canadian markets started the trading week off by going on their usual roller coaster ride with gains seen at the open gradually eroding into solid losses by the close of Monday trading. For the tale of the tape, the TSX Exchange fell 0.63%, while the TSX Gold Index gained 3.7% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, lost 0.24% with the declining issuers beating out the advancers by a 458 to 399 margin on volume of 244 million shares traded.

After making a stink ball bid earlier in the year, Rusoro Mining has come back and is offering three of its share for every Gold Reserve (AMEX:GRZ) share. The move would alleviate Gold Reserve’s problem in Venezuela because Rusoro has the ears of the Chavez government. Rusoro ended the day down C$0.105 at C$0.255, while Gold Reserve soared C$0.28 to close at C$0.73.

Due to reduced metal demand and the persistent weakness in zinc prices, Teck Cominco (NYSE:TCK) is shutting down its Pend Oreille operations in Washington State. Teck ended the day up C$0.25 at C$5.70.

Exeter Resource (AMEX:XRA) tagged 72.76 grams gold and 6,471 grams silver per tonne over 3.36 metres at its Cerro Moro project in Argentina. Exeter ended the session up C$0.32 at C$1.95.

Sprott Resource added C$0.11 to close at C$2 after reporting that it acquired 40,475 ounces of gold bullion and 852,478 ounces of silver bullion.

It was a rather busy trading day, which suggests that the tax loss selling may be kicking in. That said, despite the modest losses, the resource sector appears to have found a floor. We will see what Tuesday trading has in store.


Resource Stock Roundup: Tuesday, December 16th, 2008

]]> http://www.contrarianprofits.com/articles/resource-stock-roundup-tuesday-december-16th-2008/10196/feed 0 Resource Stock Roundup: Tuesday, November 18th, 2008 http://www.contrarianprofits.com/articles/resource-stock-roundup-tuesday-november-18th-2008/8723 http://www.contrarianprofits.com/articles/resource-stock-roundup-tuesday-november-18th-2008/8723#comments Tue, 18 Nov 2008 20:06:53 +0000 Doug Casey http://www.contrarianprofits.com/?p=8723 Across the board selling continued during Monday trading on the Canadian markets, with investors betting that the economic outlook will get worse before it gets better. For the tale of the tape, the TSX Exchange fell 2.88%, while the TSX Gold Index plunged 3.6% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, lost 1.97% with the declining issuers outpacing the advancers by a 489 to 264 margin on volume of 121 million shares traded.

Management of Forsys Metals approved the C$7 per share takeover offer tabled by George Forrest International Afrique SPRL. The advanced uranium player added C$1.36 to close at C$6 even.

Shares of Northern Abitibi Mining lost C$0.015 to close at C$0.075 after the company reported a 3.7 metre intercept…

]]> Across the board selling continued during Monday trading on the Canadian markets, with investors betting that the economic outlook will get worse before it gets better. For the tale of the tape, the TSX Exchange fell 2.88%, while the TSX Gold Index plunged 3.6% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, lost 1.97% with the declining issuers outpacing the advancers by a 489 to 264 margin on volume of 121 million shares traded.

Management of Forsys Metals approved the C$7 per share takeover offer tabled by George Forrest International Afrique SPRL. The advanced uranium player added C$1.36 to close at C$6 even.

Shares of Northern Abitibi Mining lost C$0.015 to close at C$0.075 after the company reported a 3.7 metre intercept running 50.05 grams gold per tonne at the Viking property in Newfoundland. Northern is earning a majority interest in the project from Altius Resources, which closed unchanged at C$4.70.

Sprott Resource tabled earnings of C$67.15-million or C$0.76 per share in the third quarter and C$73.84 million or $1.13 per share in the first nine months of the year. At the end of the quarter, the company had C$155 million in cash and subsequently sold its remaining stake in PBS Coals for another C$140.82 million. Sprott ended the day down C$0.06 at C$1.98.

The junior board hit fresh multi-year lows and appears poised to move ever lower. We will see what Tuesday trading has in store.


Source: Resource Stock Roundup: Tuesday, November 18th, 2008

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