Teck Resources (NYSE:TCK) cut its 2010 copper production forecast by 13 percent because of geotechnical issues at its Highland Valley mine in British Columbia. Copper production estimates for next year now stand at 755 million pounds down from the previous 870 million pounds, while this year’s output from Highland Valley drops by 12 percent and by 2010 output hits 187 million pounds, a 38 percent drop. Teck ended the day down C$0.07 at C$18.43.

In a case of tax dollars being put to work, Adroit Resources is set to receive C$603,633 from the Provincial Government of British Columbia as compensation for the 1995 expropriation of its Amber mineral claims to make way for a Park. The Supreme Court of British Columbia also ordered the Government to pay Adroit’s legal costs and to pay interest on the monetary award from July, 1995. The total award is expected to be more than C$1.4 million. Adroit ended the day unchanged at C$0.11.

International Tower Hill (AMEX:THM) tabled an updated resource for its Livengood project in Alaska. Using a 0.3 gram gold per tonne cutoff, the indicated resource tallies nearly 235 million tonnes grading 0.69 gram gold per tonne and the inferred camp tallies north of 280 million tonnes running 0.59 gram gold per tonne. International ended the day up C$0.13 at C$3.45

Shares of Sabina Silver added C$0.06 to close at C$0.99 after the company announced a drill intercept of 26.2 percent zinc and 457 grams silver per tonne over 8.8 metres at its Hackett River silver-zinc project in Nunavut.

Starfield Resources continued to get no trading action following word that it is taking over fellow junior Nevoro. The friendly all-share transaction would see each Nevoro share exchanged for a 0.87 of a Starfield share. Starfield ended the day down C$0.015 at C$0.16, while Nevoro cloased flat at C$0.125.

Weaker job numbers out of the United States failed to damper investor appetite for equities. We will see what Friday trading has in store.

Source: Resource Stock Roundup: Friday, June 26th, 2009

Shares of Andean Resources added C$0.24 to close at C$0.94 after the company announced a 32 metre drill intercept running 34.6 grams gold and 214 grams silver per tonne from its Cerro Negro project in Argentina.

International Tower Hill Mines (AMEX:THM) tabled an updated resource for its Livengood gold project in Alaska. The indicated resource tallies 128.6 million tonnes running 0.83 grams gold per tonne and the inferred resource came in at 142.1 million tonnes grading 0.74 grams gold per tonne. Despite the 70% jump over the earlier resource, International ended the day up a modest C$0.02 at C$2.45.

Romarco Minerals tagged 6.9 grams gold per tonne over 60.6 metres at its Haile Mine property in South Carolina. Romarco ended the session down C$0.035 at C$0.295.

Optimism is coming back into the overall markets and that has been a negative for the gold guys. We will see what Thursday trading has in store.

Source: Resource Stock Roundup:Thursday, January 29th, 2009