Vantex Resources, Ltd. will begin a minimum 1,000 m drilling program on its Galloway property in Quebec. The program will confirm earlier historical drill results on the property, several of which showed 0.75 g/t - 1.34 g/t over 100.55 m - 42.98 m. The news release itemizes those findings, from Kerr-Addison in the 1980s and '90s, and gives a capsule geology.
Vantex closed yesterday at 4.5 cents, down half a penny on very light volume. Current bid-ask is 4.5 - 5 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Thursday, March 12, 2009
Blue Note Mining Appoints Two Directors, Announces Loss Of One
Blue Note Mining, Inc. has announced the appointment of two new independent directors, David Crevier and John Anderson, plus the resignation of Robert Therriault from the board. Mr. Therriault will continue as the CFO of Blue Note. The news release has capsule biographies of the new directors.
Blue Note closed at 1 cent yesterday, on light volume. As of the time of this post, the bid-ask is 1 cent - 1.5 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Blue Note closed at 1 cent yesterday, on light volume. As of the time of this post, the bid-ask is 1 cent - 1.5 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Alhambra Loses Case In Kazakhstan's Supervisory Chamber
The Supervisory Chamber of Eastern Kazakhstan's Oblast Court has ruled against Alhambra, in a dispute with Marsa Aktiengesellschaft (Lichtenstein) and Teragol Investment Limited (Cyprus). The two companies wanted a reversal of Alhambra's purchase of Saga Creek Gold Company LLP, and that's what they got from the Supervisory Chamber. Alhambra, which has not received a copy of the decision yet, can appeal to Kazakhstan's Supreme Court. The news release has further details.
The decision was announced early this morning. As of the time of this post, Alhambra is 4.5 cents bid, 8 cents asked. Yesterday's clsoe was at 6 cents, up 1.5 cents on relatively heavy volume.
Alhambra's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
The decision was announced early this morning. As of the time of this post, Alhambra is 4.5 cents bid, 8 cents asked. Yesterday's clsoe was at 6 cents, up 1.5 cents on relatively heavy volume.
Alhambra's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Ventana Closes $3.36 Million Private Placement
Ventana Gold Corp. has closed a non-brokered private placement for six million units at 56 cents a unit, yielding gross proceeds of $3.36 million. Each unit contains one share and an entire warrant, with exercise price of 90 cents and life of two years. The money is earmarked for exploration spending at Venata'a La Bodega project, as the news release recounts. Also noted is the fees on the deal.
This announcement was put on the web after trading ended yesterday. Ventana ended yesterday at $1.03, up 6 cents on light-moderate volume.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This announcement was put on the web after trading ended yesterday. Ventana ended yesterday at $1.03, up 6 cents on light-moderate volume.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
African Aura board urges shareholders to reject now-extended takeover offer
The board of African Aura Resources, Ltd., after having learned that Northern Financial has extended an extant unsolicited takeover bid, has reaffirmed their recommendation that shareholders not tender their shares. As the news release states, "the Board of Directors as a whole: - unanimously determined that the Northern Offer is NOT fair from a financial point of view to the African Aura Shareholders; - unanimously determined that the Northern Offer is NOT in the best interests of African Aura; and - unanimously recommended that shareholders REJECT the Offer and NOT tender their African Aura Shares to the Offer."
In trading yesterday, African Aura shareholders and would-be buyers did not make any transactions, leaving the stock unchanged at 10 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
In trading yesterday, African Aura shareholders and would-be buyers did not make any transactions, leaving the stock unchanged at 10 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Moneta's Windjammer South's Resources Upped To 305,379 Oz Indicated + 211,951 Inferred
Moneta Porcupine Mines Inc. has announced that the old estimate of 154,000 ounces of gold inferred on its wholly-owned Windjammer property has now been upped. It's now 305,379 oz. indicated and 211,951 inferred, using a 0.7 g/t cutoff in the Windjammer South zone. The news release goes into further detail, and also mentions a historical inferred-resource estimate for Windjammer Southwest.
This item hit the web right after trading began yesterday. At trading's end, Moneta closed at 10 cents, down a penny on the day with heavy volume.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This item hit the web right after trading began yesterday. At trading's end, Moneta closed at 10 cents, down a penny on the day with heavy volume.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Aginco-Eagle Invests $2.15 Million In AuEx Ventures
Aginco-Eagle has acquired 1 million units of AuEx Ventures in a private placement, at $2.15 per unit. Each unit contains one common share and half a purchase warrant. This warrant has an expiry date of two years, but the exercise price is $2.75 in the first year and $3.25 in the second. There's also an unspecified expiry-acceleration option attached to the warrants. As the news release specifies, these units will bump up Aginco's holdings in AuEx to 3,202,100 shares: 12.4% on a partially-diluted basis.
This item was released after the close of trading yesterday. Aginco was up $4.34 to close at $63.50, on heavy trading, while AuEx was down a nickel to close at $2.20 on light trading.
Aginco's Google Finance web page is here, and AuEx's is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This item was released after the close of trading yesterday. Aginco was up $4.34 to close at $63.50, on heavy trading, while AuEx was down a nickel to close at $2.20 on light trading.
Aginco's Google Finance web page is here, and AuEx's is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Dorato Resources Lands $5 Million Private Placement
Dorato Resources Inc. has cut a deal with Canaccord for a private placement of 10 million units, at 50 cents each, for gross proceeds of $5 million. Each unit contains one common share and half a purchase warrant. The exercise price of the warrants is 65 cents, and they last for two years. They also have an early-expiry provision; the news release spells out the conditions.. Canaccord was also granted a 20% over-allotment option, which is good for an extra million dollars if taken up on.
This item was released yesterday before trading began. At market's close, Dorato ended up unchanged at 54 cents on moderate-to-heavy volume.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This item was released yesterday before trading began. At market's close, Dorato ended up unchanged at 54 cents on moderate-to-heavy volume.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Aurizon Announces Net Earning Of 3 Cents For FY '08, Two Records Set
Aurizon Mines Inc. has announced its fourth-quarter and FY 2008 earnings. 4Q '08 showed a 3 cent loss per share, but full-year earnings were a 3-cent gain. The two records set in FY '08 were in revenues and in cash flow from operations. More details can be found in the release.
This report was disseminated yesterday, in late morning ET. Aurizon closed up 22 cents to reach $4.42, on moderate volume, and most of the day's gain had already been realized by the time the report hit the web.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This report was disseminated yesterday, in late morning ET. Aurizon closed up 22 cents to reach $4.42, on moderate volume, and most of the day's gain had already been realized by the time the report hit the web.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Banro's Resource Estimate For Namoya Project Now 1.124 Million Ounces Gold M + I
Banro Resources Inc. has released a new resource estimate for its wholly-owned Namoya project in the Democratic Republic of the Congo. Instead of 938,800 indicated resources and 621,500 inferred, Namoya now has 376,100 gold ounces measured, 748,300 indicated, and 407,700 inferred. Measured plus Indicated went up by 217,200 oz., or 23.1%. The news release announcing it goes into further detail.
Banro sent this item to the web just before yesterday's market open. In trading yesterday, it closed at $1.42, up 7 cents on light volume.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Banro sent this item to the web just before yesterday's market open. In trading yesterday, it closed at $1.42, up 7 cents on light volume.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Premier Gold gets 8.6 g/t gold across 7.5 m in Hardrock drill hole
Premier Gold Mines Ltd. has announced the results of a thirteen-hole drilling program on its Hardrock property in Ontario. The highlights mentioned in the news release were: 7.65 g/t of gold across 7.8 m in hole EP-020, 3.60 g/t across 10.0 m in hole EP-016, and 8.60 g/t across 7.5 m in hole EP-015. The first two holes are in the South End, the third is in the North. Premier expects that the current drilling program will encompass 50,000 metres' worth of exploration and definition drilling.
This item was released just before trading opened yesterday. At the end of the day, Premier closed up 4 cents to reach $2.04 on light volume.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This item was released just before trading opened yesterday. At the end of the day, Premier closed up 4 cents to reach $2.04 on light volume.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Guyana Goldfields Undertakes Full Feasibility Study For Aurora Project, Awards Contract To AMEC
Guyan Goldfields Inc. has announced a two-phase, full feasibility study for its Guyana-located Aurora project, and that AMEC is going to be doing it for them. The pre-feasibility study, normally used to convert resources into reserves, is scheduled to end in August. The Definitive (bankable) Feasibility Study is slated to be ready in February of 2010. The news release also notes that another feasibility study, for a hydroelectric power station, has also been commissioned by Guyana Gold.
This item was put on the web before trading opened yesterday. Guyana closed at $2.63, down 2 cents on the day, in moderate trading.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This item was put on the web before trading opened yesterday. Guyana closed at $2.63, down 2 cents on the day, in moderate trading.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Aurizon Increases M + I Resource Estimate By 900,000 Oz. For Joanna
Aurizon Mines Ltd. has reported a new resource estimate for its Joanna property in Quebec, which increases the gold in the resource by 900,000 ounces measured and indicated. SGS Geostat completed the update. The increase came in the indicated category, for both the Hosco and Heva sub-properties. The news release also has a capsule summary of the Joanna geology.
This release hit the Web before trading opened yesterday. Aurizon closed at $4.42 at the end of yesterday, up 22 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This release hit the Web before trading opened yesterday. Aurizon closed at $4.42 at the end of yesterday, up 22 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Boxxer Gold Extends Mineralized Shear Zone By 1.5 km
Boxxer Gold has reported that a shear zone has been extended, on its wholly-owned Gordon Lake project in the Northwest Territories. The bulk of the news release compares it to shear zones that have produced gold mines, and speculates that the discovered Syn zone is part of a shear that has yielded good assays from channel and drill sampling. Future plans include trench sampling along the Syn.
This news item was released yesterday morning, before the market opened. Boxxer's trading yesterday was very light, with one trade, leaving the stock unchanged at 3.5 cents. Current bid is 3 cents, and current ask is 3.5 cents.
Boxxer's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This news item was released yesterday morning, before the market opened. Boxxer's trading yesterday was very light, with one trade, leaving the stock unchanged at 3.5 cents. Current bid is 3 cents, and current ask is 3.5 cents.
Boxxer's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Wednesday, March 11, 2009
Daily Roundup - March 11, 2009
Spot gold had a bit of a respite today from the previous two days' declines. Late last night and the earliest part of the morning was spent in a US$893-900 range, with the price inching upwards to the ceiling starting at 9 PM ET. The range was edged through on the upside as of 4 AM ET, and subsequent early-morning action re-established 900 as the floor. Although breaking down after 8 AM ET, gold still centred around 900 in mid-late morning. By 11, 900 was re-established as a floor as gold re-climbed up, reaching over 910 by 1 PM ET. The rally then fizzled down to about 904 before resuming in late afternoon. By the end of the regular trading day, gold had closed at US$907.90, up $10.60. The AMEX Gold Bugs Index followed suit, closing up 4.75% on the day.
The biggest point gainer of all the Canadian gold stocks followed on today's blog was a major in a joint venture, Barrick, whose gain was comparable to the HUI's. Barrick finalized a joint venture with Midway Gold Corp, which didn't trade at all today. The only change in Midway was a rise in the bid from 52 to 58 cents; the ask stayed unchanged at 65 cents. Barrick, on the other hand, traded briskly if moderately; it gained $2.04 to close at $35.34. Its 6.1% gain slightly bettered the HUI's.
The second-biggest point gainer was also the biggest percentage gainer: Alamos Gold, which reported its earnings before the opening of trading today. Alamos earned 31 cents per share, a record for the company, and also reported a 42% increase in production and an 80% increase in revenue. The stock closed at $8.05, for a gain of 66 cents, or 8.9%, in moderate-to-heavy trading.
One stock with a run that partially fizzled was Seabridge, which reported an 89% increase in estimated resources (measured and indicated) for the Mitchell zone on its 100%-owned KSM project. This item also hit the Web before trading opened, and the stock got a real boost right from the open. The day's high, $23.22, was within $1.25 of its 52-week high. Its gain partially evaporated as the day wore on, though, and Seabridge closed at $22.58 for a day's gain of 63 cents on heavy trading.
The biggest fizzler of the day was Rusaro Mining, Inc. Last night, Rusaro issued a statement clarifying/redacting some remarks made by its CEO, which had jumped the gun a bit. After opening at 59 cents, also its high of the day, it slid down to 50 cents. A one-trade spill at 45 cents was quickly reversed, leaving Rusaro to close at 50 cents for a drop of 6 cents on the day in heavy trading.
That's it for the Canadian Gold Stock News Watch daily wrapup. This post will stay at the header until early tomorrow morning, when the items that came in overnight will be put up. Also, I'll put up any items from yesterday that came through the CNW Group wire. (For whatever reason, my filter there leaves me a day behind.) Until that time, thanks for stopping by - and watch out for the financials.
Stocks Mentioned: Barrick Inc., Midway Gold Corp., Alamos Gold, Inc., Seabridge Gold, Inc., Rusaro Mining, Inc.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
The biggest point gainer of all the Canadian gold stocks followed on today's blog was a major in a joint venture, Barrick, whose gain was comparable to the HUI's. Barrick finalized a joint venture with Midway Gold Corp, which didn't trade at all today. The only change in Midway was a rise in the bid from 52 to 58 cents; the ask stayed unchanged at 65 cents. Barrick, on the other hand, traded briskly if moderately; it gained $2.04 to close at $35.34. Its 6.1% gain slightly bettered the HUI's.
The second-biggest point gainer was also the biggest percentage gainer: Alamos Gold, which reported its earnings before the opening of trading today. Alamos earned 31 cents per share, a record for the company, and also reported a 42% increase in production and an 80% increase in revenue. The stock closed at $8.05, for a gain of 66 cents, or 8.9%, in moderate-to-heavy trading.
One stock with a run that partially fizzled was Seabridge, which reported an 89% increase in estimated resources (measured and indicated) for the Mitchell zone on its 100%-owned KSM project. This item also hit the Web before trading opened, and the stock got a real boost right from the open. The day's high, $23.22, was within $1.25 of its 52-week high. Its gain partially evaporated as the day wore on, though, and Seabridge closed at $22.58 for a day's gain of 63 cents on heavy trading.
The biggest fizzler of the day was Rusaro Mining, Inc. Last night, Rusaro issued a statement clarifying/redacting some remarks made by its CEO, which had jumped the gun a bit. After opening at 59 cents, also its high of the day, it slid down to 50 cents. A one-trade spill at 45 cents was quickly reversed, leaving Rusaro to close at 50 cents for a drop of 6 cents on the day in heavy trading.
That's it for the Canadian Gold Stock News Watch daily wrapup. This post will stay at the header until early tomorrow morning, when the items that came in overnight will be put up. Also, I'll put up any items from yesterday that came through the CNW Group wire. (For whatever reason, my filter there leaves me a day behind.) Until that time, thanks for stopping by - and watch out for the financials.
Stocks Mentioned: Barrick Inc., Midway Gold Corp., Alamos Gold, Inc., Seabridge Gold, Inc., Rusaro Mining, Inc.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Ontex Names George Harrison As New CFO
Ontex Resources Ltd. has named George Harrison as its new Chief Financial Officer, replacing the now-resigned Peter Pistor. The news release contains a capsule biography of Harrison as well as a welcome from CEO Gary Conn.
This item hit the Internet after trading had ended. Ontex had closed at 24 cents, up 4 cents from yesterday's close on very light volume. The current bid and ask are 20 cents and 24 cents, respectively.
Ontex's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This item hit the Internet after trading had ended. Ontex had closed at 24 cents, up 4 cents from yesterday's close on very light volume. The current bid and ask are 20 cents and 24 cents, respectively.
Ontex's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Yorbeau Issues Clarification For Two Earlier Resource Estimates
Yorbeau Resources Ltd. issued a correction to an earlier resource estimate, issued Feb. 11th, for the Lac Gamble and Cinderella targets According to NI 43-101 requirements, the estimates should have been in a range because the exploration-derived information on hand was too scanty to give a precise number. This later news release contains the correction and gives ranges. For Lac Gamble, 1.5 to 1.7 million tonnes at grades varying between 9 and 10 g/t Au, containing an estimated 500,000 to 525,000 ounces of gold. For Cinderella, 250,000 to 270,000 tonnes at 15 to 16 g/t Au and containing an estimated 120,000 to 140,000 ounces of gold. Both estimates are classified as conceptual, and both corrections lower the minimum figures slightly. At the end of the news release, an earlier NI 43-101 compliant resource estimate for Yorbeau's Astora block is summarized.
This item hit the Web after the market closed. Yorbeau ended today's trading unchanged, at 15 cents. The bid-ask is currently 14 cents - 16.5 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This item hit the Web after the market closed. Yorbeau ended today's trading unchanged, at 15 cents. The bid-ask is currently 14 cents - 16.5 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Gold Wheaton Reports Net Loss Of A Penny A Share
Gold Wheaton has reported a 1 cent per share net loss for a stretched-out FY 2008. In that fifteen-month period, lengthened due to a change in the fiscal year end-date, Gold Wheaton's EBITDA was $4 million, or less than a cent per share. The loss for the quarter, though, was $2 million - about half of the entire loss for the entire 15-month period. In the news release that goes through its activities, Gold Wheaton ascribed the $2 million deficit primarily to foreign-exchange losses.
This news hit the Net after the close of regular trading today. Gold Wheaton ended the day at 21.5 cents, up a penny from yesterday's close. The bid-ask is 21 cents - 25 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This news hit the Net after the close of regular trading today. Gold Wheaton ended the day at 21.5 cents, up a penny from yesterday's close. The bid-ask is 21 cents - 25 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Azteca Gold Announces $2.5 Million Private Placement, Exercise of Warrants, Resignation Of Director
Azteca Gold Corp. has announed a non-brokered private placement, consisting of 12.5 million units at 20 cents each, for gross proceeds of $2.5 million. Unlike the typical unit, this one contains a share and a full warrant, which will be good for two years after the close. The exercise price for these warrants will be 35 cents. This deal is subject to regulatory approval. The funds are slated for drilling/assaying expenditures for Azteca's Two Mile Creek, and for general corporate purposes. The news release also announces that the earlier reduction in the exercise price of an earlier warrant issue garnered $658,687.50 from exercises in the amount of 4,391,250 shares. It also notes that Ed Schiller has resigned for personal reasons, and adds a brief thanks for his services.
Azteca is currently up a cent in relatively light trading. As of the time of this post, it last traded at 15 cents - the same price as the current ask.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Azteca is currently up a cent in relatively light trading. As of the time of this post, it last traded at 15 cents - the same price as the current ask.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Tinka Gets 1.6 g/t Over 70 m, 1.9 g/t Over 56 m At Golden Mountain
Tinka Resources Ltd. has finished assaying the core from its two-hole drilling program in its Golden Mountain property, in Australia. Both holes had wide regions of anomalous gold values: hole GMDDH24 had 56 m at 1.9 g/t, from 163 m to 219 m, and hole GMDDH25 had 70 m at 1.6 g/t Au, from 59 m to 129 m. The news release contains context and geological information, and itemizes two subintervals in hole GMDDH25's interval, each 17 m width with 3.1 and 2.3 g/t of gold.
Tinka has not traded at all today; it closed yesterday at 5.5 cents. Current bid is at the same level, and the current ask is 10 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Tinka has not traded at all today; it closed yesterday at 5.5 cents. Current bid is at the same level, and the current ask is 10 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Fortuna Gets 6.75 g/t Gold over 14.2 m From One Hole, 7.84 g/t Over 13.5 m For Another
Fortuna Silver Mines Inc. has released the results from its 2008 drilling program on its San Jose silver-gold project in Mexico. Twelve holes were drilled: hole SJO-127 got 6.75 g/t of gold over an estimated true width of 14.2 m. SJO-137 got 7.84 g/t over est. true width of 13.5 metres. The full report (covering both gold and silver findings) is contained in the news release, as well as contextual information and the geology of the property.
Fortuna opened up with a gain of 2 cents, and that gain is currently doubled. As of the time of this post, it's up to 85 cents.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Fortuna opened up with a gain of 2 cents, and that gain is currently doubled. As of the time of this post, it's up to 85 cents.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Nuinsco Resources To Issue Rights, Four Of Which Will Get A Share + 1/2 Warrant For A Nickel
Nuinsco Resources Ltd. has announced the terms of a rights offering. Said rights will be issued to every shareholder of record as of March 24th, one per share held. Four rights will entitle the holder of them to purchase one unit for a nickel. Each unit contains a common share of Nuinsco and half a purchase warrant, with exercise price of 10 cents. The warrants cannot be exercised until April 23, 2010, and they expire on April 23, 2011. The rights will expire on April 23rd of this year. More details are available in the news release announcing the offering. The proceeds of the offering will be used to pay down a bridge loan and for "general corporate purposes."
As of the time of this post, Nuinsco's shares are at 5 cents, unchanged on the day. The bid-ask spread is currently lower, though: 4 cents bid, 4.5 cents asked.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
As of the time of this post, Nuinsco's shares are at 5 cents, unchanged on the day. The bid-ask spread is currently lower, though: 4 cents bid, 4.5 cents asked.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Altai Extends Warrants Term
Altai Resources Inc. has extended the term of warrants for 1 million of its shares by one year, to May 4, 2010. The exercise price of $1.25 remains the same. As disclosed in the news release, a director owns 100,000 of the warrants and a company controlled by him owns another 100,000.
Altai is currently up three cents at 23 cents. At market's open, about the same time at which the news was webbed, it reached 24 cents.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Altai is currently up three cents at 23 cents. At market's open, about the same time at which the news was webbed, it reached 24 cents.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Gossam's Joint Venture Partner Gets 2.8 m of 2.03 g/t Gold in Polymetallic Strike
The joint-venture partner of Gossan Resources Ltd., Marathon PGM Corporation, has gotten a 2.03 g/t gold finding over 2.8 m as part of a polymetallic strike on their Bird Venture project in Manitoba. The hole was sunk into a nickel-copper-platinum group metal lens. As the news release documents, there were ample findings of base and platinum-group metals too.
Gossan has not traded so far today. It last traded on March 6, when it closed at 7 cents, and its current bid-ask spread is 7-11 cents.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Gossan has not traded so far today. It last traded on March 6, when it closed at 7 cents, and its current bid-ask spread is 7-11 cents.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Niogold Brings In First Canadian Capital For Investor Relations
Niogold Mining Corporation has hired First Canadian Capital, for $4,500 a month and a grant of 400,000 stock options, to undertake investor relations for Niogold. Also announced in the news release is Niogold's intention to update its resource estimate for its Marban Block property, to square with results from more recent drilling.
Niogold opened up a penny at 15 cents, where it is currently trading. The ask is the same as the last-trade price.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Niogold opened up a penny at 15 cents, where it is currently trading. The ask is the same as the last-trade price.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Sabina Silver Has Increase In Gold, Other Resources At Hackett River
Sabina Silver Corp. announced an increase in its resource estimate for its Hackett River silver-zinc project. In addition to increases of 7.1 million ounces of silver, 448,000 tonnes of zinc, 57,000 tonnes of copper and 12,000 tonnes of lead, there is also an additional 24,000 ounces of gold. Details can be found in the news release.
As of the time of this posting, Sabina is up 5 cents on the day, at 68 cents. The bid-ask spread shows somewhat of a cool-off: 63 cents bid, 67 cents asked.
Sabina's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
As of the time of this posting, Sabina is up 5 cents on the day, at 68 cents. The bid-ask spread shows somewhat of a cool-off: 63 cents bid, 67 cents asked.
Sabina's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Rimfire Minerals And Inmet Start Four-Hole Drilling Program On Barmedman Project
Rimfire Minerals Corporation announced that it and Inmet Mining will commence a four-hole, 1200-m drilling project on an induced-polarization anomaly in the Bardeman Project. The news release goes into the geology of the area, and notes why Rimfire expects to find a copper-gold deposit there. There's also details on the joint venture agreement between the two companies.
Rimfire opened 0.5 cents below yesterday's closing price of 22 cents. As of the time of this post, it's back to 22 cents. Inmet is at $31.81, up 74 cents.
Rimfire's Google Finance web page is here. Inmet's is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Rimfire opened 0.5 cents below yesterday's closing price of 22 cents. As of the time of this post, it's back to 22 cents. Inmet is at $31.81, up 74 cents.
Rimfire's Google Finance web page is here. Inmet's is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
ATW Gold Corp. Commissions Scoping Study For Deflector Deposit
ATW Gold Corp. has commissioned Mining Plus, Pty. of Perth, Australia, to complete an NI 43-101 compliant preliminary-assessment (scoping) study of ATW's Deflector Deposit in its 100%-owned Gullewa gold project in Australia. In addition, an independent geological firm will audit the resource model, and a mine plan, life-of-mine projection and anticipated cash-flow model will be produced. Mining Plus will also supply an opinion on plant upgrading and capital costs. The news release also notes that the study is expected to take about 90 days.
As trading started today, ATW opened at 76 cents, up a penny from yesterday's close. The current bid is 73 cents and the current ask is 76, same as the opening price.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
As trading started today, ATW opened at 76 cents, up a penny from yesterday's close. The current bid is 73 cents and the current ask is 76, same as the opening price.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Norther Star Gets 46.9 m Of 1.10 g/t Gold From Hole On Malarctic-Midway Project
Northern Star Mining Corp. announced the results from a hole drilled on the Osisko and Goldex sub-zones in its Malarctic-Midway gold project in Quebec. Hole MC-08-142 hit a 46.9 m interval of gold graded at 1.10 g/t. There was a sub-interval of 1.5 m with 8.90 g/t. The news release also details the results from assaying four other holes on Osisko and Goldex, and notes that the true width of the zone is approximately 75% of the core length. There's also four drill hole results from the Chabela zone: hole MC-08-140 had 1.2 m of 10.70 g/t gold. No true-width estimate was specified for the Chabela results.
Northern Star closed at 59 cents yesterday. As of the time of this posting, the bid-ask spread was 54-60 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Northern Star closed at 59 cents yesterday. As of the time of this posting, the bid-ask spread was 54-60 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Midway Gold And Barrick Sign Joint Venture Deal For Spring Valley Gold Project
Midway Gold Corp. has finalized a joint venture exploration agreement with Barrick Exploration (a wholly-owned subsidiary of Barrick Gold) for its Spring Valley project in Nevada. Barrick will have the right to earn 60% ownership of Spring Valley by spending US$30 million on the property within five years, and $4 million within a year. If Barrick spends $8 million more after it earns the 60%, then it will earn an additional 10%. An additional 5% comes with bringing the project to a "production decision" at Midway's election. The news release mentions that there's already an NI 43-101 compliant resource estimate for the project, with only inferred resources of 87.75 million tons grading 0.65 g/t per ton gold using a cut-off grade of 0.187 g/t.
Midway's stock closed at 64 cents yesterday. As of the time of this posting, the bid-ask is 52-65 cents.
Midway's Google Finance web page is here. Barrick's is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Midway's stock closed at 64 cents yesterday. As of the time of this posting, the bid-ask is 52-65 cents.
Midway's Google Finance web page is here. Barrick's is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Seabridge Gold New Mitchell Zone Resource Estimate With 89% Increase In Resources, Now 30 Million Ounces Gold
Seabridge Gold, Inc. has filed an updated resource estimate for the Mitchell zone of its wholly-owned KSM project in B.C. Measured and indicated gold resources have been upped by 89%, and M + I copper by 105%. There's now more than 30 million ounces of gold and 6 billion pounds of copper estimated as resource. The news release spells out the details of the new report, and notes that it will be filed within 45 days. The report was prepared for Seabridge by a third party.
Seabridge closed yesterday at $21.95. As of the time of this posting, the bid-ask is $21.01-$23.00.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Seabridge closed yesterday at $21.95. As of the time of this posting, the bid-ask is $21.01-$23.00.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Rainy River Hits 29.2 m Of 2.35 g/t Gold With Drill Hole
Rainy River Resources Ltd. has announced that the first drill hole in its reverse-circulation drilling program, designed to test Zone 1 on its property in Richardson Township, Ontario, hit 29.2 m of 2.35 g/t core. Within this interval were two higher-grade subintervals: 7.5 m of 5.46 g/t Au and 3.7 m of 5.69 g/t Au; these lengths seem to be close to true width. The news release in which this finding was announced sketches out the geology of Target 1 and current exploration efforts.
Rainy River closed at $1.76 yesterday. The current bid-ask is $1.78-$2.00, indicating a higher open.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Rainy River closed at $1.76 yesterday. The current bid-ask is $1.78-$2.00, indicating a higher open.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Aquila Resources NI 43-101 Report Estimates 582,000 Oz Gold M + I
Aqulia Resources Inc. has filed an NI 43-101 compliant resource estimate for its Back Forty project in Michigan. Estimated resources are 8.5 million tonnes, measured and indicated, of 2.13 g/t gold, 5.61% zinc, 30.6 g/t silver and 0.51% copper. Inferred resources make up 1.17 million tonnes of 2.9 g/t gold, 4.4% zinc, 41.7 g/t silver and 0.21% copper. The news release also mentions the granting of 1.85 million stock options with five-year terms and 15 cent strike price, and outlines efforts by Aquila to seek financing for the Back Forty.
Aquila closed at 20.5 cents yesterday. As of the time of this posting, the bid-ask was 21-23.5 cents, indicating a higher open.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Aquila closed at 20.5 cents yesterday. As of the time of this posting, the bid-ask was 21-23.5 cents, indicating a higher open.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Radisson Mining Grants Incentive Stock Options
Radisson Mining Resources Inc. has granted 980,000 Class A shares' worth of incentive options to its directors. The strike price is 10 cents, and the options expire on March 9, 2014.
Radisson closed at that same 10 cents yesterday. As of the time of this post, bid-ask is 8-10 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Radisson closed at that same 10 cents yesterday. As of the time of this post, bid-ask is 8-10 cents.
The company's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Silver Standard Announces Increase In Gold Reserves In Annual Report
Within a report detailing Silver Standard Inc.'s fourth-quarter and year-end results for 2008, in which it reported a net loss of 28 cents/share for the quarter and 17 cents/share for the year, it also disclosed an increase in its gold resources. Drilling in its northern B.C. Snowfield project revealed more resources, a five-fold increase, and measured plus indicated reserves for its San Luis project in Peru increased by 31%. Measured and indicated gold reserves at Snowfield are now 4.362 million ounces; M + I for San Luis are now 348,000 ounces of gold. There's also potential for a returned off-option property, the San Augustin in Mexico.
This report was released after the market closed yesterday, when Silver Standard finished at $15.59. As of the time of this posting, bid-ask is $15.50-$16.70.
Silver Standard's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This report was released after the market closed yesterday, when Silver Standard finished at $15.59. As of the time of this posting, bid-ask is $15.50-$16.70.
Silver Standard's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Rusoro Mining Redacts Recent CEO Statements, Clarifies
Rusoro Mining, Inc. issued a press release that retracted certain statements made by its CEO in a recent interview. He referred to San Rafael/El Placer "'commercial gold production', 'ore' and 'orebodies'", which are not yet appropriate because exploration of the property isn't sufficiently advanced yet. In addition, a hope expressed about expanding production at Rusoro's Choco 10 property is not yet supported by a required scoping and feasibility study. The news release goes into further detail, and notes that Rusoro is in the middle of a $40-60 million equity financing.
This redaction was released after trading finished yesterday, when Rusoro closed at 56 cents on light volume. As of the time of this post, the bid-ask is 50-61 cents.
Rusoro's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This redaction was released after trading finished yesterday, when Rusoro closed at 56 cents on light volume. As of the time of this post, the bid-ask is 50-61 cents.
Rusoro's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Alamos Gold Reports FY 2008 Results, Earns 31 Cents Per Share
Alamos Gold has reported a record year in FY 2008, with 151,000 oz of gold produced and 31 cents per share earnings. Gold production went up 42% from FY '07 and revenue went up 80%. Cash flow was 68 cents/share. The news release contains the results, and activity highlights for the year.
This report was released after trading closed yesterday, during which Alamos closed at $7.39. As of the time of this posting, the bid-ask is $7.45-$7.79.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This report was released after trading closed yesterday, during which Alamos closed at $7.39. As of the time of this posting, the bid-ask is $7.45-$7.79.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Mineral Deposits Announces Sabodala First Pour "Imminent"
Mineral Deposits Limited has announced that the first gold pour from its Sabodala project should be taking place by mid-March. All links in the production chain, according to the news release, are operating as scheduled.
This announcement was issued after the market closed yesterday. As of the time of this posting, Mineral Deposits' bid-ask is 25-58 cents. It last traded yesterday, closing at 55 cents.
Its Yahoo! Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
This announcement was issued after the market closed yesterday. As of the time of this posting, Mineral Deposits' bid-ask is 25-58 cents. It last traded yesterday, closing at 55 cents.
Its Yahoo! Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Mantis Minerals Grants Stock Options
After the close of trading yesterday, Mantis Minerals announced that "certain directors and consultants of the company" have been granted options for acquiring 2,450,000 shares of Mantis. The options have a strike price of 5 cents, and expire on March 10, 2014. This release was put out after the close of trading yesterday, when Mantis closed at 7.5 cents for a gain of 2.5.
It trades on the Canadian National Stock Exchange; Google Finance only has a Web page for its pink sheet listing. CSNX's page for Mantis is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
It trades on the Canadian National Stock Exchange; Google Finance only has a Web page for its pink sheet listing. CSNX's page for Mantis is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Robex Resources Announces Work Going Well, Sample Results Coming Soon
Robex Resources, Inc. reported yesterday morning that their work on the N'Golola Zone of its Mininko property, located in Mali, is going along "very well." Pit and trench samples have been dug, and the samples are being sent away for assaying. In addition, more methodical sampling work on its contiguous Kamasso property is about to start. Robex has also gotten a three-year extension on its exploration permits for Wili-Wili and Wili-Wili West, and it plans to resume work there in April. The news release with these items has further details.
Yesterday's trading in Robex was relatively heavy, but left the stock unchanged at 8.5 cents. As of the time of this posting, the bid-ask is 8 - 9 cents.
Robex's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Yesterday's trading in Robex was relatively heavy, but left the stock unchanged at 8.5 cents. As of the time of this posting, the bid-ask is 8 - 9 cents.
Robex's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
MAX Resources Gets 4.9 g/t Gold In 793 lb. Bulk Sample
Yesterday morning, MAX Resources reported that a bulk sample taken on its East Manhatten Wash property, in Nevada, yielded 4.9 g/t of gold per ton and 1.2 g/t ton silver. What got them moving from a previous outcrop sample to 793 lb's worth of bulk was a sighting of free gold. The news release explains the metholology used to assay the sample, and announces plans to take soil and auger drill samples in the immediate area. More land around the East Manhattan Wash property has been staked.
MAX didn't trade at all yesterday; its last close was at 11 cents on March 5th. As of the time of this posting, the bid-ask is 11.5 - 14 cents.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
MAX didn't trade at all yesterday; its last close was at 11 cents on March 5th. As of the time of this posting, the bid-ask is 11.5 - 14 cents.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Mantis Minerals Scores On Trench Sampling
Yesterday morning, Mantis Minerals, Inc. released a compliation of a trench sample on its Cree Lake property. The trenching took place over a 100 metre strike length and 2 metre width. The twelve samples whose values are disclosed in the news release ranged from 19.03 g/t to 196 g/t over a 20 cm width. The best sample, although not tabulated in the trench report, had a value of 1,300 g/t. The rest of the report goes into the geology of the areas of interest on the property, which include capsule descriptions of earlier prospectors' and companies' sample efforts.
Mantis shot up to 7.5 cents, for a gain of 2.5 cents, on moderate trading yesterday. This jump put the stock at the top of a trading range that has held since mid-January.
It trades on the Canadian National Stock Exchange; Google Finance only has a Web page for its pink sheet listing. CSNX's page for Mantis is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Mantis shot up to 7.5 cents, for a gain of 2.5 cents, on moderate trading yesterday. This jump put the stock at the top of a trading range that has held since mid-January.
It trades on the Canadian National Stock Exchange; Google Finance only has a Web page for its pink sheet listing. CSNX's page for Mantis is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Tuesday, March 10, 2009
Daily Roundup - March 10, 2009
Spot gold had another rough day today. After remaining flat overnight, it sunk to about US$910 early this morning and stayed in the 910-915 range until a little after 9:30 AM ET. Then, it broke the bottom of the range and sunk to a little below 900 by about 10:15. The 900 resistance level holding, it bounced between 900 and 905 until about 11:30, when the 900 level was breached. The next range was between 893 and 897, and even that range was poked through just before 2 PM ET. Gold then trundled back up to about 900, and spent the rest of the regular trading day stuck between 896 and 900. It closed the regular trading day at US$897.30, for a loss of $24.20. Again, the Amex Gold Bugs Index was down - this day, by more than 5%.
Many of the Canadian gold stocks with news items today were down too, but not all of them. The biggest gainer, both in percentage and point terms, was a takeover target. Southwestern Resources shot right up to 43 cents at the open, and stayed between 42 and 43 for most of the first hour. After briefly touching 44, it drifted down to 42, dawdled awhile, and sunk down to 40 by noon ET. It quickly rebounded to a range of 41-41.5, closing at a straight 41 cents for an exact double on the day. Trading was extremely heavy, and no wonder: before the market opened, Hochschild plc bid 50 cents a share for the company. That bid got okayed by Southwestern's board.
The next biggest gainer on a percentage basis was Alexandria Minerals, which picked up after it announced that it is pursuing an NI 43-101 compliant resource estimate for its Orenada and Sleepy properties in its Cadillac Break property group. The stock had picked up a little before the news hit the Net, but the announcement gave it a little extra kick. Alexandria closed at 4.5 cents, up a penny on the day, in moderate trading. This gain, though, put the stock back in the middle of a trading range that was cut to the downside yesterday.
In point terms, the next biggest gainer behind Southwestern was Amex Exploration, Inc. Amex announced that it had landed $250,000 of a planned $500,000 financing: Visible Gold, Inc. committed to take the entire tranche. Visible Gold is the same company which optioned Amex's Cameron property. Amex closed at 23.5 cents, up 1.5 cents on somewhat heavy trading. Visible Gold itself closed unchanged at 8 cents, on moderate trading.
An unchanged close could be considered pretty good, given how the typical gold stock fared today. The stock that was the worst performer in the posts below was IAMGOLD. The company announced that its planned secondary offering, increased to $300 million gross proceeds, was to be priced at $8.75. That pricing made it a bargain at yesterday's close of $9.43, but not at today's close at $8.30.
That's it for the Canadian Gold Stock News Watch daily wrapup. This post will stay at the header until early tomorrow morning, when the items that came in overnight will be put up. Also, I'll put up any items from yesterday that came through the CNW Group wire. (For some reason, my filter there leaves me a day behind.) Until that time, thanks for stopping by - and best chances through the gold slump.
Stocks Mentioned: Southwestern Resources, Alexandria Minerals Corp., Amex Exploration, Inc., Visible Gold Mines, Inc., IAMGOLD.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Many of the Canadian gold stocks with news items today were down too, but not all of them. The biggest gainer, both in percentage and point terms, was a takeover target. Southwestern Resources shot right up to 43 cents at the open, and stayed between 42 and 43 for most of the first hour. After briefly touching 44, it drifted down to 42, dawdled awhile, and sunk down to 40 by noon ET. It quickly rebounded to a range of 41-41.5, closing at a straight 41 cents for an exact double on the day. Trading was extremely heavy, and no wonder: before the market opened, Hochschild plc bid 50 cents a share for the company. That bid got okayed by Southwestern's board.
The next biggest gainer on a percentage basis was Alexandria Minerals, which picked up after it announced that it is pursuing an NI 43-101 compliant resource estimate for its Orenada and Sleepy properties in its Cadillac Break property group. The stock had picked up a little before the news hit the Net, but the announcement gave it a little extra kick. Alexandria closed at 4.5 cents, up a penny on the day, in moderate trading. This gain, though, put the stock back in the middle of a trading range that was cut to the downside yesterday.
In point terms, the next biggest gainer behind Southwestern was Amex Exploration, Inc. Amex announced that it had landed $250,000 of a planned $500,000 financing: Visible Gold, Inc. committed to take the entire tranche. Visible Gold is the same company which optioned Amex's Cameron property. Amex closed at 23.5 cents, up 1.5 cents on somewhat heavy trading. Visible Gold itself closed unchanged at 8 cents, on moderate trading.
An unchanged close could be considered pretty good, given how the typical gold stock fared today. The stock that was the worst performer in the posts below was IAMGOLD. The company announced that its planned secondary offering, increased to $300 million gross proceeds, was to be priced at $8.75. That pricing made it a bargain at yesterday's close of $9.43, but not at today's close at $8.30.
That's it for the Canadian Gold Stock News Watch daily wrapup. This post will stay at the header until early tomorrow morning, when the items that came in overnight will be put up. Also, I'll put up any items from yesterday that came through the CNW Group wire. (For some reason, my filter there leaves me a day behind.) Until that time, thanks for stopping by - and best chances through the gold slump.
Stocks Mentioned: Southwestern Resources, Alexandria Minerals Corp., Amex Exploration, Inc., Visible Gold Mines, Inc., IAMGOLD.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Gryphon Gold Corp. Signs LOI For Joint Venture With Piedmont Mining
Through its wholly-owned subsidiary, Nevada Eagle Resources, Gryphon Gold has signed a Letter of Intent for a joint venture with Piedmont Mining Company, Inc. The venture pertains to Gryphon's Argentite property in Nevada. Piedmont will pay US$8,000 to Gryphon on done-deal day, and will earn a 51% interest in Argentite by committing US$750,000 of exploration work over a five-year period. Coming up with a bankable feasibility study, whether or not the work committment has been filled, will get Piedmont up to a 70% interest in the property. Subsequent payments to Gryphon will be counted against the work committment. The news release has further details on the JV deal, and contains a capsule description of what's been found so far on the property.
Gryphon's traded down today. As of the time of this post, it's dropped a penny to 14 cents. The current bid is at the same price as the last trade.
Gryphon's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Gryphon's traded down today. As of the time of this post, it's dropped a penny to 14 cents. The current bid is at the same price as the last trade.
Gryphon's Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
International Tower Hill Drills 100 Metres Of 1.11 g/t Gold
International Tower Hill Mines Inc. got results from the two holes it drilled earlier this year on its Livengold Project. Hole MK-RC-0112 intersected 100 metres of 1.11 g/t gold and 17 metres of 0.97 g/t. The second hole, MK-RC-0111, intersected 68 metres of 0.59 g/t gold. A recently-completed bought deal will allow International Tower to double its 2009 drilling program for the property. The news release also has details on the project itself, including the most current resource estimate. (3.41 million ounces indicated, 3.39 million inferred, using a cutoff grade of 0.5 grams per ton.)
Like many other gold stocks, International Tower is down today. Before the news was disseminated, the stock was at about $2.50; dissemination gave it a bump-up to almost $2.60. After briefly re-slumping down to $2.51 at 2:48 PM ET, International got back up to $2.56 as of 3 PM ET.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Like many other gold stocks, International Tower is down today. Before the news was disseminated, the stock was at about $2.50; dissemination gave it a bump-up to almost $2.60. After briefly re-slumping down to $2.51 at 2:48 PM ET, International got back up to $2.56 as of 3 PM ET.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Rocher Deboule Announces Intent To Drill On Iron Oxide-Copper-Gold Project
As part of its 2008 review and statement of 2009 plans, Rocher Deboule Minerals Corp. announced that they plan to drill on their Victoria adit area, where an earlier miner got 112.6 grams of gold per ton of ore plus economic percentages of molybdenum and cobalt. 90 tons were mined back then. Rocher has applied for drilling permits for the area. The bulk of the news release discusses what they've done and what they intend to do on their Artillery Peak manganese property.
Rocher's stock has dropped. As of the time of this posting, the last trade was at 10 cents, down a penny from yesterday's close.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Rocher's stock has dropped. As of the time of this posting, the last trade was at 10 cents, down a penny from yesterday's close.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Augen Gold Disputes Accuracy Of Earlier Augen Capital Release
Augen Gold Corp. has issued a rejoinder to last Friday's release from Augen Capital Corp, which deals with Augen Gold converting debt owed to Augen Capital to equity. Augen Gold says that: a) Augen Capital only offered to take shares at 12.5 cents for the swap, not the 15 cents claimed; b) Augen Gold's board never expressed approval of Augen Capital's terms; c) contrary to Augen Capital's claim to have been forced to call a special shareholder's meeting to deal with the matter, ACC had already planned to call the meeting in mid-January. The full rebuttal from Augen Gold is here.
Augen Gold's shares were down slightly this morning: one trade at 6.5 cents, for a drop of half a cent. Augen Capital's shares have not traded at all so far; it closed yesterday at 10 cents.
Augen Gold's Google Finance web page is here. Augen Capital's is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Augen Gold's shares were down slightly this morning: one trade at 6.5 cents, for a drop of half a cent. Augen Capital's shares have not traded at all so far; it closed yesterday at 10 cents.
Augen Gold's Google Finance web page is here. Augen Capital's is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Alexandria Minerals Intends To Complete Resource Estimate For Oreanda, Sleepy
Alexandria Minerals Corp. has announced it intends to complete an NI 43-101 compliant resource estimate for its Oreanda and Sleepy gold projects on its Cadillac Break property in Quebec. The news release has some details on its current four-hole drilling program in another area of the Cadillac Break, and goes further in describing what Alexandria has already got on Oreanda and Sleepy. The estimate is expected to be completed this summer.
Alexandria is up slightly in moderate morning trading: 4 cents as of the time of this post, for a gain of half a penny.
Its Google Finance page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Alexandria is up slightly in moderate morning trading: 4 cents as of the time of this post, for a gain of half a penny.
Its Google Finance page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Amex Exploration Lands $250,000 Financing From Visible Gold Inc.
Amex Exploration Inc. has announced that Visible Gold Mines, Inc. has picked up the entire first half of its planned $500,000 financing. Visible Gold acquired 1 million units, at a price of 25 cents each, with each unit containing a share and one warrant. (Most deals of this sort include half a warrant per unit.) Each warrant entitles its holder to purchase an Amex share at 35 cents for a period of one year after the distribution date. As disclosed in the news release, Visible Gold has already entered into a joint venture, by which Visible can earn a 50% interest in Amex's Cameron property. It also says that the proceeds will be used for further exploration on Amex's properties, and will also go "toward meeting short term operating working capital requirements."
Despite a generally lousy gold-stock market, Amex Exploration is up. As of the time of this post, it's gained a penny to reach 26 cents on fairly heavy trading. Visible Gold is currently unchanged at 8 cents on moderate trading.
Amex's Google Finance web page is here, and Visible's is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Despite a generally lousy gold-stock market, Amex Exploration is up. As of the time of this post, it's gained a penny to reach 26 cents on fairly heavy trading. Visible Gold is currently unchanged at 8 cents on moderate trading.
Amex's Google Finance web page is here, and Visible's is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Detour Gold Appoints Derek Teevan as Vice President for Aboriginal and Government Affairs
Detour Gold Inc. has appointed Mr. Derek Teevan as its Vice President for Aboriginal and Government Affairs. The news release delineates Mr. Teevan's accomplishments. Also, another news release acknowledges the appointment of Mr. Teevan by PDX Resources, which holds a 42.2% equity stake in Detour.
Unfortunately, a rough market for gold shares made for not the best welcome. Detour Gold was down 61 cents to $8.54 as of the time of this post, on fairly heavy trading. PDX Resources was down too, though by less: $2.13, for a drop on 9 cents on the day. Trading in PDX was relatively light.
Detour's Google Finance Web Page is here, and PDX's is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Unfortunately, a rough market for gold shares made for not the best welcome. Detour Gold was down 61 cents to $8.54 as of the time of this post, on fairly heavy trading. PDX Resources was down too, though by less: $2.13, for a drop on 9 cents on the day. Trading in PDX was relatively light.
Detour's Google Finance Web Page is here, and PDX's is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Castle Resources Suspends Exploration On San Ramon, May Sell It
Castle Resources, Inc. has provided an update on its San Ramon project. The company expresses optimism about the property's prospects, probably because Castle's now looking into selling it, but has suspended exploration on it for now. Although primarily a silver project, Castle has found some anomalous gold sample results on two claims in the property. The news release contains further details.
Castle hasn't traded so far today, and the spread is wide: 4 cents bid, 9.5 cents asked. It last traded on Feb. 27, at 5 cents.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Castle hasn't traded so far today, and the spread is wide: 4 cents bid, 9.5 cents asked. It last traded on Feb. 27, at 5 cents.
Its Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Colossus Minerals Secures $24.7 Million Gross In Bought Deal
Colossus Minerals Inc. announced that it has closed a bought deal for 11.5 million units, each unit going for $2.15. Total proceeds are $24.7 million. As is usual, each unit contains a share and half of a warrant. These warrants are good for purchasing a share of Colossus at $2.70 until March 11, 2011. The news release contains further details, including a special expiry-acceleration feature on the warrants. The funds will be used for exploration of Colussus' Serra Pelada project, other exploration initiatives, and for "general corporate purposes."
Colossus is currently trading at $1.65, well below the $2.15 unit price, although it's also above the early-morning low of $1.55.
Colossus Mineral Inc.'s Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Colossus is currently trading at $1.65, well below the $2.15 unit price, although it's also above the early-morning low of $1.55.
Colossus Mineral Inc.'s Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
IAMGOLD Prices Equity Financing, Now $300 Million Gross
IAMGOLD Corporation has announced the pricing of its offering today, rather than later on as my earlier summary expected. The shares will go for $8.75 each, and the offering will be for 34,300,000 common shares. The news release announcing it contains further details, including the full syndicate list.
Currently, IAMGOLD's shares are still halted, and will remain so until 10:15 AM ET. The current posted bid and ask prices are both the same as the secondary-offering price: $8.75.
IAMGOLD Corp.'s Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Currently, IAMGOLD's shares are still halted, and will remain so until 10:15 AM ET. The current posted bid and ask prices are both the same as the secondary-offering price: $8.75.
IAMGOLD Corp.'s Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Kinross To Announce First-Quarter Results On May 5, Day Before Shareholder Meeting
Kinross Gold will announce its first-quarter results on May 5, the day before the shareholder meeting. The news release announcing it also has the phone numbers for a planned conference call at 5:30 PM ET on the 5th. There's also a webcast planned.
Because gold itself has slumped, Kinross opened down 28 cents, at $20.05, and is currently down even more. As of 9:52 AM ET, it was at $19.42.
Kinross Gold Inc.'s Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Because gold itself has slumped, Kinross opened down 28 cents, at $20.05, and is currently down even more. As of 9:52 AM ET, it was at $19.42.
Kinross Gold Inc.'s Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Mantra Mining Acquires Two Gold Properties In Alaska From NovaGold Resources, Three Polymetallic
Mantra Mining Inc. has closed a deal to acquire five properties from NovaGold and a subsidiary for 3,125,000 shares of Mantra. Two of these properties, Colorado Creek and Tintina, are gold exploration properties; the other three are polymetallic. Both of the gold properties are in the early stage of exploration; the other three have some result that are historical in nature. The news release has details on them all, and notes that the share payment represents about 7% of Mantra's current shares.
Mantra's shares have not traded so far. The current bid is 40 cents, while the current ask is 54 cents. Yesterday's close was 50 cents.
Mantra Mining Inc.'s Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Mantra's shares have not traded so far. The current bid is 40 cents, while the current ask is 54 cents. Yesterday's close was 50 cents.
Mantra Mining Inc.'s Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Mexican Silver Mines Ltd. Moves Into Gold Through Takeover
Mexican Silver Mines Inc. has announced that it will be taking over Rio Alto Mines, Inc. Rio Alto is a privately-owned exploration company with a stake in the La Arena gold-copper project in Peru, which it was in the process of acquiring from IAMGOLD Inc. To secure 38.7% of the project, Rio Alto (and now Mexican Silver) is required to invest $30 million to develop a gold mine on La Arena. Acquiring a further 61.3% requires a cash payment of US$48.55 million to IAMGOLD, including the already-made initial payment of $1 million, within two years unless special exemptions are made. The news release contains further details, and notes that the terms of Mexican Silver warrants and stock options are unchanged as a result of this takeover.
As of the time of this post, Mexican silver shares are halted. Yesterday's close was 16 cents.
Mexican Silver Mines Inc.'s Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
As of the time of this post, Mexican silver shares are halted. Yesterday's close was 16 cents.
Mexican Silver Mines Inc.'s Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Southwestern Okays Takeover Bid By Hochschild Mining plc For 50 Cents
The board of directors of Southwestern Resources Corp. has given the "friendly" stamp on a 50 cents/share takeover offer from Hochschild Mining plc. The takeover offer is still subject to an independent fairness opinion and due diligence, and has yet to be approved by Southwest's shareholders. The news release specifies that March 23rd is the deadline for the offer, and that Geoinformatics Exploration Inc. lost out.
As of the time of this posting, the market hasn't opened for trading. Southwestern's current bid and ask is 36 cents, indicating an open there. The bid-ask is well above yesterday's closing price of 20.5 cents.
Southwestern Resource Corp.'s Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
As of the time of this posting, the market hasn't opened for trading. Southwestern's current bid and ask is 36 cents, indicating an open there. The bid-ask is well above yesterday's closing price of 20.5 cents.
Southwestern Resource Corp.'s Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
West Timmins Minerals Scores 60.50 Metres of 1.03 g/t Gold With Drill Hole
West Timmins Mining Inc. has hit a deep, if relatively low-grade, finding on its wholly-owned Thorne property in Ontario. Hole GW08-33 returned a 60.50 m interval which averaged 1.03 g/t gold. Included in this 60.5 metre stretch on the Golden River West Zone were three different high-grade intervals: 14.50 g/t over 1.10 metres, 15.80 g/t over 0.80 metres and 7.13 g/t over 1.20 metres. As the news release point out, the Golden River Trend (including Golden River West) already has a NI 43-101 complaint resource estimate, of 4.0 Mt of 3.03 g/t gold. That estimate does not include the announced GW08-33 hole results, which extends the Golden River West zone. The release also specifies the other areas that West Timmins is testing currently.
As of the time of this posting, the market has not opened yet. West Timmins is currently 30 cents bid, 43 cents asked; yesterday's close was at 40 cents.
The West Timmins Mining Inc. Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
As of the time of this posting, the market has not opened yet. West Timmins is currently 30 cents bid, 43 cents asked; yesterday's close was at 40 cents.
The West Timmins Mining Inc. Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Africo Resources Signs A Memorandum Of Understanding With Electricity Company SNEL
Africo Resources Ltd. has signed a Memorandum of Understanding with Société Nationale d'Electricité (SNEL), a government-owned power company in the Democratic Republic of Congo. SNEL has agreed to supply power to Africo's 75%-owned Kalkundi property. Africo has to finance a study that'll spell out what capacity upgrades (if any) SNEL will have to undertake, and also has to raise the capital for any upgrades needed. In addition to further details, the news release also specifies that SNEL has agreed to supply the electricity at official rates.
As of the time of this posting, the market has not opened. Africo is 55 cents bid, 64 cents asked; yesterday's close was at 63 cents.
Africo Resources Ltd.'s Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
As of the time of this posting, the market has not opened. Africo is 55 cents bid, 64 cents asked; yesterday's close was at 63 cents.
Africo Resources Ltd.'s Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Rimfire Minerals Gets 53.73 m Of 0.11% Copper And 0.19 g/t Gold In Grizzly Showing Drill Hole
Rimfire Minerals Corporation has announced the results from its Grizzly Property, from an eight-hole drilling program at the Grizzly Showing and three holes at the Mirko Grid. Hole GRZ08-11 on the Grizzly Showing assayed at 53.73 metres of 0.11% copper and 0.19 g/t gold, including 17.38 metres of 0.21% copper and 0.28 g/t gold. This hole is the only one to have yielded significant assay results on the Grizzly Showing. The news release provides geological context and details on the moly results on the Mirko Grid part of the Grizzly Property.
As of the time of this posting, the market hasn't opened yet. Rimfire is 23.5 cents bid, 26 cents asked; yesterday's close was at 26 cents, same as the ask.
The Rimfire Minerals Corp. Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
As of the time of this posting, the market hasn't opened yet. Rimfire is 23.5 cents bid, 26 cents asked; yesterday's close was at 26 cents, same as the ask.
The Rimfire Minerals Corp. Google Finance web page is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
Two Independent Proxy Firms Recommend B2Gold Acquisition Of Central Sun Mining
The takeover of Central Sun Mining Inc. by B2Gold Corp. has been recommended by two leading proxy-advisory firms. Both RiskMetrics-ISS Canada and Glass Lewis have okayed the arrangement to their subscribers, and have advised Central Sun shareholders to vote for it. Under the term of the deal, one share of Central Sun can be exchanged for 1.20 shares of B2Gold. "The special meeting of the shareholders of Central Sun with respect to the arrangement is scheduled for Friday March 20, 2009 at 10:00 a.m. at the head office of Central Sun at 6 Adelaide Street East, Suite 500, Toronto, Ontario M5C 1H6."
The rest of the news release detailing this recommendation notes that B2Gold has extended a new $8 million loan to Central Sun, replacing the old one of same principal value. This loan carries a 15% annualized rate, and is due on Mar. 31 (extendible to June 30th.) Central Sun paid $200,000 and 1 million common shares for the privilege.
As of the time of this posting, the market isn't open yet. B2Gold is 60 cents bid, 69 cents asked with yesterday's closing price being 65 cents; Central Sun is 69 cents bid, 70 cents asked, with yesterday's closing price of 69 cents.
The B2Gold Corp. Google Finance page is here. The Central Sun Mining Inc. one is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
The rest of the news release detailing this recommendation notes that B2Gold has extended a new $8 million loan to Central Sun, replacing the old one of same principal value. This loan carries a 15% annualized rate, and is due on Mar. 31 (extendible to June 30th.) Central Sun paid $200,000 and 1 million common shares for the privilege.
As of the time of this posting, the market isn't open yet. B2Gold is 60 cents bid, 69 cents asked with yesterday's closing price being 65 cents; Central Sun is 69 cents bid, 70 cents asked, with yesterday's closing price of 69 cents.
The B2Gold Corp. Google Finance page is here. The Central Sun Mining Inc. one is here.
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NOTE: This blog is confined to aggregating news relating to Canadian gold stocks, as well as to commenting on past and present price movements, and is intended as an informational resource. It is not intended to make recommendations, nor is it a tool for forecasting future price movements. Its author is not a qualified investment advisor, and as such cannot make any investment recommendations. Should you be interested in any stock that appears here, please consider carefully if it is suitable for you and your portfolio. Please also consider seeking advice from a professional investment advisor if you have not already done so.
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