Contrarian Stock Market Investing News - Featuring Bargain Stocks » TA 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 Round Up Tuesday July 22, 2008 http://www.contrarianprofits.com/articles/resource-stock-round-up-tuesday-july-22-2008/3980 http://www.contrarianprofits.com/articles/resource-stock-round-up-tuesday-july-22-2008/3980#comments Tue, 22 Jul 2008 17:41:57 +0000 Doug Casey http://www.contrarianprofits.com/articles/resource-stock-round-up-tuesday-july-22-2008/3980 It was more of the same during Monday trading on the resource-rich Canadian markets as the big board stocks continued to recover, while the junior bourse continued to sink. For the tale of the tape, the TSX Exchange added 1.19%, while the TSX Gold Index added 1.3% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 0.48% with the declining issuers beating out the advancers by a 552 to 356 margin on volume of 156 million shares traded.

It was a rough day for high flying Goldsource (GXS) as the diamond explorer turned accidental coal finder released results of its first drill hole following the April discovery of coal in Saskatchewan. Having rocketed from around C$0.20 to over C$19…

]]> It was more of the same during Monday trading on the resource-rich Canadian markets as the big board stocks continued to recover, while the junior bourse continued to sink. For the tale of the tape, the TSX Exchange added 1.19%, while the TSX Gold Index added 1.3% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 0.48% with the declining issuers beating out the advancers by a 552 to 356 margin on volume of 156 million shares traded.

It was a rough day for high flying Goldsource (GXS) as the diamond explorer turned accidental coal finder released results of its first drill hole following the April discovery of coal in Saskatchewan. Having rocketed from around C$0.20 to over C$19 bucks a share on two drill holes perhaps a correction was warranted. The latest result was collared 1.3-km south of the initial holes and essentially duded. Goldsource ended the day down C$6.75 to close at C$6 even.

The area players also sold off, with Bitterroot Resources dropping C$0.175 to close at C$0.405.

On the takeover front, TransAlta (TA) received a C$39 per share takeover offer from LS Power Equity Partners and Global Infrastructure Partners. TransAlta ended the day up C$4.87 at C$37.12.

Western Copper (WRN) completed the first permitting step for its Carmacks copper project in the Yukon with the Environmental and Socio-economic Assessment Board final screening report and recommendation. Western ended the day up C$0.03 at C$1.29.

The junior board has lost ground for six consecutive weeks and based on the start of this trading week it looks like its losing streak could well remain intact. We will see what Tuesday trading has in store.

Source: Resource Stock Round Up Tuesday July 22, 2008

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