Contrarian Stock Market Investing News - Featuring Bargain Stocks » Victoria Gold 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. Wed, 25 Nov 2009 15:22:27 +0000 http://wordpress.org/?v=2.8.5 en hourly 1 Resource Stock Roundup: Tuesday, June 23rd, 2009 http://www.contrarianprofits.com/articles/resource-stock-roundup-tuesday-june-23rd-2009/18256 http://www.contrarianprofits.com/articles/resource-stock-roundup-tuesday-june-23rd-2009/18256#comments Tue, 23 Jun 2009 21:30:49 +0000 Doug Casey http://www.contrarianprofits.com/?p=18256 Investors bailed out of the equity markets in a big way during Monday’s session on the Canadian Markets. For the tale of the tape, the TSX Exchange plunged 4.41%, while the TSX Gold Index dropped 5.5% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 3.59% with the decliners beating out the advancers by a 632 to 213 margin on a lower than normal 156 million shares traded.
The real news of the day did not involve any Canadian listed companies but it was a doozy. Xstrata (LON:XTA) proposed an all-share merger of equals with Anglo American (NASDAQ:AAUK) in a move that would create the world’s third largest mining company. For its part, Anglo flat out rejected the proposal.…

]]> Investors bailed out of the equity markets in a big way during Monday’s session on the Canadian Markets. For the tale of the tape, the TSX Exchange plunged 4.41%, while the TSX Gold Index dropped 5.5% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 3.59% with the decliners beating out the advancers by a 632 to 213 margin on a lower than normal 156 million shares traded.
The real news of the day did not involve any Canadian listed companies but it was a doozy. Xstrata (LON:XTA) proposed an all-share merger of equals with Anglo American (NASDAQ:AAUK) in a move that would create the world’s third largest mining company. For its part, Anglo flat out rejected the proposal. Stay tuned.

Fresnillo PLC has withdrawn its offer to buy Mag Silver. Fresnillo has not been able to conclude the independent valuation of Mag required under applicable Canadian securities laws in order to permit the offer to proceed and it is not clear to Fresnillo when or if this will happen. Mag ended the day down C$0.23 at C$5.32.

Victoria Gold bucked the downward trend after reporting a drill intercept of 2.5 grams gold per tonne over 274.3 metres at is Helen zone on the Cove project in north-central Nevada. Victoria added C$0.01 to close at C$0.39.

Shares of Andean American Mining fell C$0.055 to C$0.235 after the company reported that its Invicta project has a projected capital cost of $65.3 million with a net present value at an 11 per cent discount rate of the five-year free cash flow net of debt amortization of $159-million. All this using a gold price of $900 per ounce and copper price of $2 per pound.

Worries that the global economic recovery will be slower than some had been anticipating put pressure on resource stocks. Will we get the usual rebound on Tuesday or will the selling continue? We will see.


Source: Resource Stock Roundup: Tuesday, June 23rd, 2009

]]> http://www.contrarianprofits.com/articles/resource-stock-roundup-tuesday-june-23rd-2009/18256/feed 0 Resource Stock Roundup: Friday, December 12th, 2008 http://www.contrarianprofits.com/articles/resource-stock-roundup-friday-december-12th-2008/10039 http://www.contrarianprofits.com/articles/resource-stock-roundup-friday-december-12th-2008/10039#comments Fri, 12 Dec 2008 19:59:21 +0000 Doug Casey http://www.contrarianprofits.com/?p=10039 The biggest proposed leveraged buyout in Canadian history has finally come to an end, with telecom giant BCE failing to met the solvency requirements. The collapsed deal, plus problems with a bailout of the auto sector in the United States, put a damper on the big board stocks during Thursday trading on the Canadian markets. For the tale of the tape, the TSX Exchange slumped 2.8%, while the TSX Gold Index gave back 3.4% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 1.12% with the advancing issuers beating out the decliners by a 424 to 416 margin on volume of 238 million shares traded.

Iamgold (NYSE:IAG) went shopping and picked up Orezone Resources (AMEX:OZN) in an all stock…

]]> The biggest proposed leveraged buyout in Canadian history has finally come to an end, with telecom giant BCE failing to met the solvency requirements. The collapsed deal, plus problems with a bailout of the auto sector in the United States, put a damper on the big board stocks during Thursday trading on the Canadian markets. For the tale of the tape, the TSX Exchange slumped 2.8%, while the TSX Gold Index gave back 3.4% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 1.12% with the advancing issuers beating out the decliners by a 424 to 416 margin on volume of 238 million shares traded.

Iamgold (NYSE:IAG) went shopping and picked up Orezone Resources (AMEX:OZN) in an all stock deal valued at C$139 million. Of interest to Iamgold is the advanced Essakane project in West Africa where full production is expected to begin in 2010. Iamgold ended the day down C$0.22 at C$5.88, while Orezone added C$0.345 to close at C$0.52.

Meanwhile, Avion Resources tagged 26.94 grams gold per tonne over 16.9 metres at its Tobakoto property in Mali. Avion ended the day up C$0.02 at C$0.07.

Shares of Rubicon Minerals (AMEX:RBY) added C$0.18 to close at C$1.18 after the company reported that a step out hole yielded 3,151.1 grams gold per tonne over 0.5 metre at its Phoenix property in Ontario.

Victoria Gold cut 16.75 grams gold per tonne over 29.6 metres on the Helen zone of its Cove project in Nevada. Shares in the company were halted from trading pending the news at C$0.20.

The junior market bucked the negative tone by posting a winning session. It looks like some investors finally stepped up to the plate to buy the undervalued exploration companies. We will see what Friday trading has in store.


Source: Resource Stock Roundup: Friday, December 12th, 2008

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