Today was not a good day for gold. After hovering around the US$935-40 level, gold plummeted at about 9 AM ET. 935 was definitively broken through, and gold spent late morning at around 925. Early afternoon was worse: 920 was broken right after noon ET, and the next range was itself broken at about 2. The low of the day was about 911. After that final drop, though, gold began to recover. It was back above 920 by 4 PM ET, at which it dawdled until the end of regular trading saw it at about US$922/oz. No wonder why the AMEX Gold Bugs Index plopped today.
Given the stormy market conditions, the performance of the fifteen Canadian gold stocks with news releases, before the market closed, wasn't that bad. In terms of point gain, the best performer was Ivanhoe. The news on it came before market open: Ivanhoe's Oyu-Tougou Project goes before Mongloian Parliament for final approval. Ivanhoe spent the entire day up from Friday's close, and closed today at $5.60 for a gain of 33 cents. Not bad in the midst of a mostly down day for gold.
Up far less on a point basis, but similarly on a percentage basis, was Cypress Development Corp. Cypress was up 1.5 cents, closing at 29 cents. Before market open, it and Skyharbour announced that their mother drill hole in their jointly-owned Broulan Reef was being braced for the drilling of daughter holes. The drill-core rock from the mother hole was being prepared for analysis and assaying. Unlike Cypress, Skyharbour didn't fare that well today; it closed unchanged at 9.5 cents.
The stock that was up the most on a percentage basis was Hawk Uranium, up 1 cent to close at 4.5 cents to re-nestle into a trading range. This leap started before Hawk's news release, which announced that Noront Resources chairman emeritus Richard Nemis had joined Hawk's board. Given that Hawk had abandoned its McFaulds property on Feb. 25th, there was a certain irony in this announcement: Noront had been the star of the McFaulds Lake "amazing race."
Not all the stocks went up or stayed unchanged, of course. Far West Mining was down before it announced its acquisition of the Iris properties, containing some areas that look good for gold and molybdenum. The spread of this news accompanied a halt in its decline. Far West closed at 86 cents, down 4 cents on the day.
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. Until that time, thanks for stopping by - and best chances, as it's still stormy out there.
Stocks Mentioned: Ivanhoe Mines, Cypress Development, Skyharbour Resources, Hawk Uranium, Far West Mining.
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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.
Monday, March 9, 2009
IAMGOLD Equity Financing, To The Tune of $275 Million
IAMGOLD Corporation has announced a secondary offering done by prospectus. The preliminary red-herring prospectus has been filed, and the secondary will be done through Canaccord and TD Securities. A 15% Over-Allotment has been granted; if exercised by TD and/or Canaccord, the gross proceeds will jack up to $316,250,000. The funds are planned to be used to pay down the debt associated with the developing of the Essakane project, and any overage will be plowed into that project. The pricing of the shares will be determined a little before the day they're offered. The offering is expected to close on March 26th.
This item hit the wires after the market closed. Nevertheless, IAMGOLD shares were halted for its release. Before the halt, the shares closed at $9.43 for a drop of 47 cents.
IAMGOLD Corporation'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 wires after the market closed. Nevertheless, IAMGOLD shares were halted for its release. Before the halt, the shares closed at $9.43 for a drop of 47 cents.
IAMGOLD Corporation'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.
Garson Gold Adopts Takeover Defense
Garson Gold, Inc. announced that it has adopted a shareholder-rights provision, "similar to those of other Canadian public companies." Under its operation, any takeover bid that does not fall into the category of a "Permitted Bid" may trigger the separation of rights from the shares held on the close of business on March 9th. A "takeover bid," a term unused in the news release, means the acquisition of 20% or more of Garson shares. The rights separate at the option of the Board of Directors, once the 20% threshold is crossed; the Board can permit the exercise price of the rights to be a discount from market value. The announcement notes that there are fairness tests to be used when determining whether or not a bid is to be Permitted, and that this takeover-defense plan was not adopted because of takeover fears.
This item was released after the market closed, so it has not had an effect on the stock. Garson did not trade at all today.
Garson Gold 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.
This item was released after the market closed, so it has not had an effect on the stock. Garson did not trade at all today.
Garson Gold 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.
Wildcat Exploration Completes First Tranche of Flow-Through Private Placement
Wildcat Exploration, Inc. has placed two million units at 5 cents each for proceeds of $100,000. In addition to a share, each unit has half a purchase warrant with exercise price of 15 cents. The warrants expire a year after the close of the deal. No finder's fees were paid for this tranche, even though finder fees are allocated for the entire offering of 8 million shares. Gross proceeds are expected to be $400,000. The net proceeds from this offering are earmarked for exploring Wildcat's gold properties near Bisset Manitoba and base metal/PGE projects near Flin Flon. Also noted in the news release is a belt-tightening initiative, which includes 50% pay cuts for management.
The price of the units was well above the price Wildcat shares have traded so far today. Two trades went at 3.5 cents, unchanged since Friday's close. Both trades took place in the early morning. As of 3 PM ET, the ask is the same as the trades and the bid is 0.5 cents lower.
Wildcat Exploration Inc.'s 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.
The price of the units was well above the price Wildcat shares have traded so far today. Two trades went at 3.5 cents, unchanged since Friday's close. Both trades took place in the early morning. As of 3 PM ET, the ask is the same as the trades and the bid is 0.5 cents lower.
Wildcat Exploration Inc.'s 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.
Fortuna Takes Over Continuum And San Jose Project
Fortuna Silver Mines Inc. has completed its planned acquisition of Continuum Resources, buying up all Continuum's shares for 6,786,706 shares of Fortuna. This buyout puts Continuum's stake in the San Jose Project into Fortuna's hands. Fortuna was already responsible for the NI 43-101 compliant resource estimate for the project: Indicated Mineral Resources were comped out as 1.47 million tonnes grading 262.6 g/t silver plus 2.19 g/t gold; Inferred were 3.9 million tonnes grading 260.6 g/t silver plus 2.57 g/t gold. The estimates in the news release also specify oz. silver equivalent, and notes that a revised estimate (which will contain measured and indicated) should be completed around July.
This news didn't help Fortuna's price all that much, even though it's been a hard day for silver. Fortuna opened up slightly below Friday's close, but quickly dove further. After climbing back to almost unchanged late in the morning (ET), it continued to slide - a drop that continued after the above item was released. As of 2:50 PM ET, Fortuna was at 91 cents, down 7 cents on the day.
Fortuna Silver Mines Inc.'s 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.
This news didn't help Fortuna's price all that much, even though it's been a hard day for silver. Fortuna opened up slightly below Friday's close, but quickly dove further. After climbing back to almost unchanged late in the morning (ET), it continued to slide - a drop that continued after the above item was released. As of 2:50 PM ET, Fortuna was at 91 cents, down 7 cents on the day.
Fortuna Silver Mines Inc.'s 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.
Far West Picks Up Properties Inside Its Santo Domingo Project
Far West Mining Inc. has picked up the Iris properties, which is located within its Santo Domingo project. The process has been completed with a final payment of $2.5 million to the vendor, Empresa Nacional de Mineria (ENAMI.) The combined project, including the Iris, has an estimated 240M tonnes of resource at 0.54% copper, 24.3% iron and 0.07 g/t of gold. Far West was responsible for delineating this resource, which is not specified as being NI 43-101 compliant. Further details, and a sketch-out of a planned geophysical program, can be found in the news release.
This news didn't keep Far West stock from dropping, although it may have softened the drop. After jumping up 8 cents to 98 cents just before noon ET, Far West plummeted down to 82 cents a little before 1 PM ET. It partially recovered to 85 cents, after the news was released, but was still down 5 cents as of 2:30 PM ET.
Far West Mining Ltd.'s 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.
This news didn't keep Far West stock from dropping, although it may have softened the drop. After jumping up 8 cents to 98 cents just before noon ET, Far West plummeted down to 82 cents a little before 1 PM ET. It partially recovered to 85 cents, after the news was released, but was still down 5 cents as of 2:30 PM ET.
Far West Mining Ltd.'s 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.
Asia Now Resources' Noel White Kicked Upstairs To CTA
Asia Now Resources has reported that Dr. Noel White is no longer on the board. He's one of the founders of the company, and has been active in its management for the last five years. Henceforth, though, he'll hold the position of Chief Technical Advisor, a non-board position. The news release makes clear that Dr. White hasn't jumped ship.
There have been no trades in Asia Now so far today. The bid-ask spread is wide: lowest ask is double the highest bid. The last trade went last Friday, at 9 cents, one cent above the current bid.
Asia Now Resources' 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.
There have been no trades in Asia Now so far today. The bid-ask spread is wide: lowest ask is double the highest bid. The last trade went last Friday, at 9 cents, one cent above the current bid.
Asia Now Resources' 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.
Sierra Minerals Closes First Tranche of Private Placement
Sierra Minerals, Inc. has announced the closing of the first tranche of its private placement. 8 million units went at a price of 20 cents each, so Sierra got 1.6 million gross from the deal. Details in this news release, which also has the terms of a new debt agreement with Warman Investments, Pty. The new loan is for $500,000 less than the old one from Warman, which has been closed with this new deal, principal repayment of $500,000, and payment of accrued and unpaid interest of $190,000. The proceeds wll go to expanding production at its Cerro Colorado mine in Mexico.
Unusually for a private placement, this one went for higher than the current stock price. Sierra last traded on Friday at 19 cents, and currently has 15 cents bid, 19 cents asked. The last time it got above the 20-cent PP price was on February 13th, and that level didn't hold.
Sierra Minerals Inc.'s 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.
Unusually for a private placement, this one went for higher than the current stock price. Sierra last traded on Friday at 19 cents, and currently has 15 cents bid, 19 cents asked. The last time it got above the 20-cent PP price was on February 13th, and that level didn't hold.
Sierra Minerals Inc.'s 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.
NQ Exploration Appoints Jacquelin Gauthier as VP for Exploration
NQ Exploration, Inc. announced that it has appointed Mr. Jacquelin Gauthier as its new Vice President for Exploration. He's been an exploration manager for four major mining companies, including Noranda and Kinross Gold. Mr. Gauthier got 600,000 stock options, with exercise price of 20 cents per share. 200,000 of them vest immediately, and the other 400,000 vest one and two years after the contract was signed: 200,000 in a year and the rest in two years. The news release has futher details on Mr. Gauthier's distinguished career.
This item had little effect on the stock, which has not traded in more than a week. The bid-ask spread is wide: 3 cents bid, 8.5 cents asked, as of 12:30 PM ET. The last full trade, on Feb. 20th, was at 4 cents. The last time the stock was above 20 cents was in last September.
Google Finance's page for NQ Exploration 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 had little effect on the stock, which has not traded in more than a week. The bid-ask spread is wide: 3 cents bid, 8.5 cents asked, as of 12:30 PM ET. The last full trade, on Feb. 20th, was at 4 cents. The last time the stock was above 20 cents was in last September.
Google Finance's page for NQ Exploration 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.
Hawk Uranium Announces Re-Election of Board of Directors
In a cakewalk, Hawk Uranium's board of directors slate was elected. All previous directors were returned; new director Richard Nemis, chairman emeritus of Noront Resources, was added. The same near-unanimity prevailed for all of managements' resolutions. Hawk Uranium, although not primarily a gold stock, does have the Holdsworth gold property in Northern Ontario.
Although the news hit at about 11 AM, Hawk was nonetheless higher right after trading began. Its first trade went at 4.5 cents, up a penny from Friday's close. It stayed at 4.5 cents until just before noon, when it bumped up to 5 cents. Friday's close, though, marked a monthly low for the stock.
The Google Finance page for Hawk Uranium 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.
Although the news hit at about 11 AM, Hawk was nonetheless higher right after trading began. Its first trade went at 4.5 cents, up a penny from Friday's close. It stayed at 4.5 cents until just before noon, when it bumped up to 5 cents. Friday's close, though, marked a monthly low for the stock.
The Google Finance page for Hawk Uranium 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-Ore Announces First Quarter Results For Its Bjorkdal Mine
Gold-Ore has announced that production from its wholly-owned Bjorkdal mine in Sweden has increased from the same quarter a year ago. For the first quarter of '09, ending Feb. 28th, 10,361 ounces of gold were recovered. For the first quarter of '08, 6,026 ounces were produced. Despite a winter production slowdown, production is on track to be significantly higher than in FY '08. The report pre-dates Gold-Ore's financial statements for 1Q '09, which will be released before the end of this month.
The market took well to it, although not immediately. The first trade, more than a half an hour after market's open, went at 44 cents, unchanged from Friday's close. The next trade pushed the stock up a penny, and Gold-Ore shares continued on the upside for the rest of the morning. As of 12:00 PM ET, it had hit its high of the day at 46.5 cents.
The Google Finance page for Gold-Ore Resources 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 market took well to it, although not immediately. The first trade, more than a half an hour after market's open, went at 44 cents, unchanged from Friday's close. The next trade pushed the stock up a penny, and Gold-Ore shares continued on the upside for the rest of the morning. As of 12:00 PM ET, it had hit its high of the day at 46.5 cents.
The Google Finance page for Gold-Ore Resources 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.
Nortec Ventures Announces Results From Phase IV Of Kaukua Drilling Program
Nortec Ventures has announced the latest results from the drilling of its 70%-owned Kaukua project in Finland, from hole Kua-09-039. A 52 metre interval, starting at 123.0 m, got results of 1.06 g/t Platinum Group Elements plus gold. The drill core samples also contained 0.15% copper and 0.11% nickel. The results from this hole are consistent with earlier drill results fleshing out a mineralized zone about 25 metres thick. Phase IV drilling, comprising 2000 m total, is continuing. The news release has the results spelled out, as well as previous relevant results.
Although the news was released before the market opened, it has had no discernable effect on the thinly-traded stock. More than two hours into the trading day, Nortec has not traded at all. As of 11:40 AM ET, the bid price is the same as Friday's close price - 8.5 cents - and the ask is at 10 cents.
Nortec Ventures' 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.
Although the news was released before the market opened, it has had no discernable effect on the thinly-traded stock. More than two hours into the trading day, Nortec has not traded at all. As of 11:40 AM ET, the bid price is the same as Friday's close price - 8.5 cents - and the ask is at 10 cents.
Nortec Ventures' 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.
Tirex Resources Draws Down Funding From World Bank Loan
Tirex Resources Inc. has drawn down 1 million Euros from a loan to it by the International Bank for Reconstruction and Development, or the World Bank, secured last October 9th. The funds are earmarked for exploring/developing Tirex's Mirdita Project in Albania - specifically, for more intensive drilling of the property. Some of the holes will be sunk into defined geophysical anomalies, and others will be put into already-drilled areas for further exploration. The news release points out that Tirex secured this funding in the teeth of the credit crunch.
This announcement didn't benefit Tirex's stock price all that much. It opened at 48 cents, down two cents from Friday's close, but climbed back to unchanged five minutes after the open. As of 10:40 AM ET, Tirex was up a penny.
Tirex Resources' 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.
This announcement didn't benefit Tirex's stock price all that much. It opened at 48 cents, down two cents from Friday's close, but climbed back to unchanged five minutes after the open. As of 10:40 AM ET, Tirex was up a penny.
Tirex Resources' 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.
Daughter Hole Started For First Hole on Cypress/Skyharbour Joint Venture
The first drill hole on the Broulan Reef project, an 80%/20% joint venture between Cypress Development Corp. and Skyharbour Resources Ltd., has been deepened. The hole has now been sunk to a depth of 2742 metres. The core from the hole, labelled BR08-02, is being split and analyzed. The first of several daughter holes is being prepared, and assays of the core already extracted from BR08-02 are pending. More details, as well as a capsule geology of the property, are in the news release.
The stock of Cypress Development opened up higher, after the news was released, at 29 cents for a gain of 1.5 cents. Since then, it drifted downwards to its Friday closing price before rebounding half a cent to 28 cents, as of 10:25 AM ET. Shyharbour didn't fare as well: it opened down half a cent from Friday's close, and stayed there until about 10:13 AM ET. As of 10:25, it's even on the day.
The Google Finance page for Cypress Development is here, and the one for Skyharbour Resources 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 stock of Cypress Development opened up higher, after the news was released, at 29 cents for a gain of 1.5 cents. Since then, it drifted downwards to its Friday closing price before rebounding half a cent to 28 cents, as of 10:25 AM ET. Shyharbour didn't fare as well: it opened down half a cent from Friday's close, and stayed there until about 10:13 AM ET. As of 10:25, it's even on the day.
The Google Finance page for Cypress Development is here, and the one for Skyharbour Resources 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.
Ivanhoe Mines' Oyu Tolgoi Development Plan To Be Considered By Mongolian Parliament
Mongloia's national parliament is about to consider Ivanhoe Mineals Inc.'s Investment Plan for the development of its Oyu-Tolgoi copper-gold project. Mongolia's National Security Council has approved the investment/development agreement in principle, and there are no indications as yet that the project will be blocked. More detials are in the news release, found here.
Ivanhoe's stock went up after the news was announced, to about $5.40 shortly after the market opened. A run up to $5.48 was made at about 9:55 AM. At the time of this post, though, Ivanhoe setted back to about $5.35 before advancing up to $5.45 and falling back a little to $5.43. The previous day's close was $5.27.
The Google Finance page for Ivanhoe 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.
Ivanhoe's stock went up after the news was announced, to about $5.40 shortly after the market opened. A run up to $5.48 was made at about 9:55 AM. At the time of this post, though, Ivanhoe setted back to about $5.35 before advancing up to $5.45 and falling back a little to $5.43. The previous day's close was $5.27.
The Google Finance page for Ivanhoe is here.
----------
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.
Avion Resources Announces "First Pour"
Avion Resources Inc. has made the step from development company to producer by pouring a 21-kg gold bar from its Mali property, Segala/Tabotoko. According to the news release, the first pour took place on schedule and the current production rate is somewhat higher than forecast. Costs are expected to come in a little lower than previously forecast too, thanks to some recent savings through an updated mine plan.
Two hours after the news was announced, the stock opened one cent higher, at 21 cents. There have been two trades in the first fifteen minutes of trading, both at 21 cents - the same price as the ask at the time. Volume was 4,000 shares for both trades.
The Google Finance page for Avion Resources 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 hours after the news was announced, the stock opened one cent higher, at 21 cents. There have been two trades in the first fifteen minutes of trading, both at 21 cents - the same price as the ask at the time. Volume was 4,000 shares for both trades.
The Google Finance page for Avion Resources is here.
----------
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.
Vantex Resources Ltd. Acquires A Major Gold Project
Accoding to Marketwatch, Vantex Resources Inc. has picked up a project amalgamating several properties in Dasserat Township, Quebec, in the Abitibi region. Called the "Hurd-Perron Block," it contains two properties with historical drill results: the Galloway-Pitchvein and the Soaker Hill. The news release announcing the acquisition has the drill records.
This item has been over the wires since about 6 AM, but it's had little effect on Vantex's stock price. Indicated open of Vantex was 5 cents, the same price at which it closed last Friday.
The Google Finance page for Vantex 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 has been over the wires since about 6 AM, but it's had little effect on Vantex's stock price. Indicated open of Vantex was 5 cents, the same price at which it closed last Friday.
The Google Finance page for Vantex is here.
----------
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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