For the tale of the tape, the TSX Exchange fell 1.88%, while the TSX Gold Index gave back 4.4% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, dropped 2.7% with the declining issuers beating out the advancers by a 569 to 281 margin on volume of 109 million shares traded.

Shares of Blue Note Mining (TSE:BN) added C$0.01 to close at C$0.05 after Jaguar Financial (TSE:JFC) reported that it had acquired over 30 million shares of the company and now holds an 11.3% equity stake.

Macusani Yellowcake (CVE:YEL) reported a 6.45 metre intercept running 0.203% U308 at its Colibri II property in southeastern Peru. Nobody cared, as Macusani ended the day unchanged at C$0.40.

Minera Andes (TSE:MAI) posted a second quarter profit of $8.9 million, or $0.05 per share thanks to its 49% owned San Jose mine in southern Argentina. Minera ended the day up C$0.01 at C$1.19.

It was another painful day for those investors with a steadfast belief that the commodity stocks will eventually recover. The sell-off is clearly testing the fortitude of even the seasoned optimist. We will see what Monday trading has in store.

Source: Resource Stock Roundup: Saturday, August 16th, 2008