For the tale of the tape, the TSX Exchange gave back a modest 0.09%, while the TSX Gold Index surged 2.6% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.93% with the advancing issuers beating the decliners by a 571 to 447 margin on good volume of nearly 248 million shares traded.

It was a good day for shareholders of Cash Minerals as the company announced a strategic review to reassess the economic potential of the Division Mountain coal property in the Yukon, which hosts a measured resource of 52.5 million tonnes of high-volatile B bituminous thermal coal. Cash ended the day up C$0.055 at C$0.27.

Shares in Potash North Resource rallied for the third straight day following news that the Saskatchewan Mines Branch has issued a potash permit covering 91,000 acres. The company added C$0.48 to close at C$2.55.

Canplats Resources moved C$0.02 higher to close at C$4.92 after investors digested the latest results from the Represa zone on the Camino Rojo project in Mexico. Highlights included 292 metres running 1.16 gram gold, 11.65 grams silver per tonne, plus 0.4% zinc.

X-Terra Resources remained halted at C$2.21 but the company did table news that Brownstone Ventures will acquire a 50 percent interest in applications for some 150,000 hectares of land in the Quebec lowlands, prospective for gas shales. Brownstone will issue two million shares and two million warrants, which are exercisable at a price of C$2 for two years. Brownstone also agreed to purchase 850,000 units in X-Terra.

It was a strong end to the trading week as investors are banking that the junior market is ready for a Summer rally. We will see what Monday trading has in store.

Source: Resource Stock Roundup: Saturday, June 7th, 2008

For the tale of the tape, the TSX Exchange lost 0.58%, while the TSX Gold Index gave back 1.6% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 0.44% with the declining issuers swamping the advancers by a 562 to 466 margin on volume of nearly 218 million shares traded.

Silver Wheaton stepped up to the plate and has agreed to buy 50% of the life of mine silver at Aurcana’s 80% owned La Negra mine in Mexico. The price tag is an upfront cash payment of $25 million. Aurcana ended the day up C$0.06 at C$0.64.

It was a good session for shareholders of X-Terra Resources as the junior applied for shale licenses in Quebec. The junior received a letter from the Ministry of Natural Resources to confirm the application permits for over 120,000 hectares. X-Terra ended the day up C$0.73 at C$2.21.

Shares of Buchans River added C$0.04 to close at C$0.225 after the company announced a drill intercept of 6.64% zinc, 3.01% lead, 0.65% copper, 15.06 grams silver and 0.11 grams gold per tonne on the Lundberg zone in Newfoundland.

Radius Gold has inked a deal with Kappes, Cassiday & Associates to develop the high-grade Tambor gold deposit in Guatemala. The agreement envisions an initial 150 tonne per day operation from both underground and surface pits. Kappes can earn a 51% interest in the project by spending $6.5 million over four years or by putting the project into production. Radius ended the day up C$0.05 at C$0.32.

Newmont Mining put itself on the brink of bidding for Gabriel Resources after buying an additional 1.5% equity stake in the company on the open market. That gives Newmont 19.9%, just a tad less than the 20% threshold that would trigger a mandatory offer. Gabriel ended the day down C$0.04 at C$2.86.

Gold took one on the chin as it made a run at the $900 per ounce mark but failed to break through. We will see what Wednesday trading has in store.
Source: Resource Stock Roundup Wednesday, June 4, 2008