Kinross Gold (K) tabled earnings of $26 million or $0.04 per share in the second quarter, a sharp decline from the $53 million or $0.09 per share earned in the same period a year ago. The bottom line was crushed by higher costs and lower revenues with the cost to produce an ounce of gold hitting $466. Despite the shortfall a strong gold price helped Kinross end the day up C$1.51 at C$17.75.

Aura Minerals (ORA) came out and said that it expects to see a steady state throughput of 1,200 tonnes per day for its Aranzazu project in Mexico by the fourth quarter. Aura ended the session up C$0.10 at C$1.15.

It was a good day for shareholders of Uranium One (UUU) as the company announced record production of 767,100 pounds of U308 in the second quarter with earnings ringing in at $32.9 million. Uranium One also confirmed its 2008 production target of 3.1 million pounds U3O8 and appointed Jean Nortier as president and chief executive officer. The company ended the day up C$0.43 at C$3.73.

Is it merely a dead cat bounce or is it the emergence of some strength for the beaten down resource sector? We will see what Thursday trading has in store.

Source: Resource Stock Roundup Thursday August 14, 2008