For the tale of the tape, the TSX Exchange lost 1.18%, while the TSX Gold Index gave back 0.3% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 0.60% with the declining issuers beating out the advancers by a 472 to 355 margin on pathetic volume of only 90 million shares traded.

Hathor Exploration (HAT) reported that a drill hole intersected 5.3 metres of basement-hosted uranium mineralization having off-scale radioactivity readings at its 90% owned Midwest NorthEast property in Saskatchewan. This marks the longest continuous off scale reading hit so far. It was an opportunity for liquidity as Hathor ended the day down C$0.15 at C$3.35, while 10% owner Terra Ventures added C$0.01 to close at C$0.83.

Verena Minerals (VML) added C$0.05 to close at C$0.19 after reporting that it hit 7.1 grams gold per tonne over 14.3 metres at its Volta Grande project in Brazil.

Beaten up zinc miner Blue Note Mining (BN) managed to tack on C$0.005 to close at C$0.055 after announcing that it is trying to reduce costs at its Caribou zinc mines in New Brunswick.

The final trading week of August is now underway and so far little has changed for the Canadian markets as selling continues to dominate the day. We will see what Tuesday trading has in store.

Source: Resource Stock Roundup Tuesday August 26, 2008