Daily Roundup - March 12, 2009

Spot gold had a mild upsurge today, building on yesterday's more modest gain. After flatlining late last evening, gold rose above US$910 at about 8:30 PM ET. A saucer-like descent ended with a reversal and continuance of the uptrend, which stopped by midnight ET at about 915. From then until about 7, gold churned between 915 and 910, followed by an aborted rise above 915; the reaction took gold down below 910 briefly. Right after 9 AM ET, though, gold went on a tear right up to 930, its high in the last 24-hour period. Another, downward-inclining churn followed between 930 and 924, followed by a brief breakdown that came to a stop above 920. After a double bottom, made after 2 PM ET, gold inched upwards and flattened to close at US$927.10 for a gain of $19.20. The Amex Gold Bugs Index joined in, rising 4.48%.

The biggest point gainer, of all gold stocks this blog has followed today, was a new gold producer, Minefinders, Inc. The item that set it off was its 2008 annual results, released before market open, with the news that the company is finally cash-flow positive. Most of its gain came in the morning, as consistent with the price of gold itself, but there was some gain left for the afternoon too. Minefinders closed at $7.67, up 62 cents on the day for a rise of 8.8%.

The biggest percentage gainer today was a company that completed a preliminary assessment study, or scoping study, for its project down in Sierra Leone. AXMIN Inc. announced that the scoping study projected a 50,000 oz/year underground mine for its Komahun project. It also said that the net present value of the mine, if a 5% discount were used and if no further reserves were eventually unearthed, would be about 29 cents per share. The news was good for a 2.5 cent jump in the stock, for a close at 12 cents, giving a gain of 26.3% on the day.

Third largest in point gain, and second in percentage terms, was AuEx Ventures, Inc. AuEx was the beneficiary of a major investment by major producer Aginco-Eagle, which acquired 1 million shares of AuEx in exchange for a $2.15 million injection on a private-placement basis. The associated warrants were a hybrid of the standard one-year and more generous two-year term: once the first year turns into the second, the exercise price changes from $2.75 to $3.25. From a down day yesterday, AuEx had a 25-cent up day today to close at $2.45.

Optimistic news didn't save First Gold Exploration Inc. from being the biggest dropper today. Although it expressed hope for its Matchi-Manitou project, and an electromagnetic anomaly therein, the stock still fell 2 cents on the day, although it recovered somewhat from its early morning 3-cent plunge. First Gold closed at 14 cents, and was left with a bid of 13 cents and ask of 15 cents. Evidently, not all optimistic news is taken as good news (at first, anyway.)

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 take comfort in the fact that physical gold can't be Ponzi'd, only debased.

Stocks Mentioned: Minefinders, Inc., AXMIN, Inc., AuEx Ventures, Inc., Agnico-Eagle Mines Ltd., First Gold Explorations, 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.

Hathor Releases Timetable For MAX Minerals Spin-Off

Hathor Exploration, Ltd. expects the spin-off of daughter corporation MAX Resources to be executed by the end of Friday, April 3rd. If that timetable is held, MAX will begin trading the following Monday. Hathor shareholders of record, as of April 3rd, will get one share of MAX for every ten they hold of Hathor. MAX will be holding the Eskay properties in B.C.; the news release contains a capsule description of them.

Prior to the above release, Hathor closed at $2.18, for a gain of 30 cents. The current bid is $2.18, and the current ask is $2.20.

The Google Finance web page for Hathor 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.

Lake Shore Gold Releases Annual Results, Comes In Under Budget Overall

Lake Shore Gold lost 4 cents per share in fiscal year 2008, as compared with a 1 cent/share loss in FY 2007, but came under budget overall and well under budget in project spending. Exploration expenses, though, were over budget. The company expects to produce 30,000 oz. of gold from its soon-to-be developed Timmins Mine by the end of 2009. A full picture of how Lake Shore has done can be found in the news release, which hit the web after the end of today's trading.

The stock closed at an unchanged $1.30 today, on moderate volume. Current bid is $1.29, current ask is $1.33.

Lakeshore'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.

Plato Gold Ups Nordeau West Resources To 30,212 Oz. Indicated, 146,305 Oz. Inferred

Plato Gold Corp. has upped the resource count of its Nordeau West property, and completed an NI 43-101 compliant estimate. There are now indicated resources of 30,212 oz gold, with average grade of 4.17 g/t, and inferred resources of 146,315 oz with average grade of 4.09 g/t. The news release contains the assumptions used in the resource calculation, as well as context and more details. Plato now intends to focus upon Nordeau East, with a much larger historical, non-NI 43-101-compliant, resource estimate than Nordeau West's.

The results were released after market's close. Plato Gold didn't trade today; its last close was 2.5 cents, on March 4. The current bid - ask is 1.5 cents - 3 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.

Donner Metals Announces Copper-Silver-Gold Strike, With 0.35 g/t Gold Over 3.5 m

Donner Metals, Ltd. has intersected 3.95 metres of massive sulphides, with assays of 2.20% copper, 0.09% zinc, 8.8 g/t silver and 0.25 g/t gold. The interval started at 345.13 metres, a level that's about 320 metres below ground. The news release has more details, including an in-depth discussion of the geology and previous exploration work.

This item was disseminated after market's close. Donner ended the day at 16 cents, unchanged from yesterday's close, 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.

Sirios Takes Over Magmax Exploration, Gains 100% Control Of ESCALE Gold Property

Sirios Resources, Inc. has acquired all the shares of private company Magmax Exploration, giving Sirios complete ownership of the ESCALE gold property in Quebec. Sirios had already optioned off 50% of the property to Magmax, so the takeover will effectively annul the agreement. Sirios used 2.52 million shares to acquire the company, at a deemed price of 9 cents, making the cost of acquisition $226,000. The Escale property has already yielded several grab and other samples showing gold, gold-moly and zinc. The news release has further details, including disclosure that two of Magmax's shareholders are directors of Sirios.

Trading in Sirios has been relatively light today, leaving it unchanged from yesterday's close. Sirios last traded at 5.5 cents; the current bid - ask is 5 - 5.5.

Sirios' 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.

Andina Minerals Adds Patrick Downey, Melvyn Williams To Board

Patrick Downey and Melvyn Williams have joined Andina's Board of Directors. The news release announcing it has career biographies for both, and notes that 250,000 stock options have been granted with strike price of $1.52 and life of five years.

Andina is solidly up to $1.57, for a gain of five cents on the day, but is also a little off its highs. Current bid is the same as the last trade, while current ask is $1.60.

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.

Rocher Deboule Private Placement: Price Set, Amount Unspecified, Max. $500,000

Rocher Deboule Minerals Corp. is going to be raising up to $500,000 in a private placement, by issuing up to 5 million units at a set price of 10 cents per unit. Each unit will contain a share plus a whole purchase warrant; the warrants will have a 15 cent strike price and life of two years. Like all private placements, it has to be approved by the exchange. The news release also mentions a possible finder's fee of 10%.

Rocher has not traded so far today; it last closed Tuesday at 10.5 cents. The current bid is 9 cents, and the ask is 10.5 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.

Galantas Produces 405.7 Tonnes Concentrate at Omagh Gold Mine, Expects 1371.6 Oz Gold

Through its wholly-owned subsidiary Omagh Minerals Ltd., Galantas Gold Corp. has produced an estimated 434.4 wet tonnes (405.7 dry tonnes) of concentrate, which is expected to yield 1,371.6 ounces of gold, 3,695.1 ounces of silver and 50.19 tonnes of lead. Production of dry concentrate was up 21.7%, and figures indicate better yields per tonne this last quarter. The rest of the news release, which also specifies that the above figures are provisional, explains operational developments at the mine.

Galantas has not traded so far today. Its last close was on March 4th, when it reached 6 cents. Current bid - ask is 4.5 - 5.5 cents.

Galantas' 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.

AXMIN Announces Scoping Study, Potential For 50,000 Oz/Year Mine For Kohamun Gold Project

AXMIN Inc. has completed a preliminary economic assessment, or scoping study, for its Komahun Gold Project in Sierra Leone. The study concluded that Komahun could be a 50,000 oz/year underground gold mine, and more if further exploration work is conducted adjacent to the known deposit. Estimated NPV at $750/oz gold is $US56 million, or US$0.228/share. (Approx. 29 cents Canadian per share.) The news release contains further details, and some pleased comments from the CEO.



Currently, AXMIN is at 11 cents, up 1.5 cents since yesterday's close on heavy volume. Bid - ask is 11 cents - 12 cents.



AXMIN'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.

Harte Gold Announces Private Placement Completed Nearly Four Months Ago

Harte Gold Corp. has filed a late announcement of the completion of a $44,500 private placement, which was announced as being in the works last December 17th. The placement was completed on December 19th. Details of the completion are in the news release.



Harte has not traded since Tuesday, when it closed at 9.5 cents on moderate volume. Its current bid-ask is 8.5 cents - 9.5 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.

Minefinders Announces FY 2008 Results, Start of Positive Cash Flow And Increased Production

Minefinders Corporation, Ltd. announced a 59 cent per share loss in FY 2008, compared with a 39 cent net loss in FY 2007, but also announced that production on its newly-started Dolores mine has increased and that cash flow has turned positive. Details are in the news release.

As of the time of this post, Minefinders is up 41 cents, reaching $7.46.

Minefinders' 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.

Golden Hope Recaps Exploration Efforts, Delineates 2009 Plans

Golden Hope Mines, Ltd., has issued a summary of its efforts to date on its several properties, and adds its plans for 2009. Among them are: looking for a partner to help explore its Timmins Gold Deposit property; completing the mapwork for, and some sampling of, some interesting ultrabasics intrusions on 600 claims adjacent to the Bellechase belt, on which its Timmins property is located; and, basic exploration work on its Chute du Bras property. The news release contains further details and the roundup of efforts to date.

Golden Hope is currently at 5.5 cents. up 0.5 cents since yesterday's close. Current bid - ask is 5 cents - 5.5 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.

Rye Patch Gold Completes $354,600 Private Placement

Rye Patch Gold Corp. has finshed a private placement, for 2,955,000 units at 12 cents per unit, with gross proceeds of $354,600. Each unit contains one share and one warrant; the warrants have strike price of 15 cents and life of two years. As is the case for all private placements, it's subject to TSX Venture final approval. Proceeds are to be used for exploration and development of Rye Patch's properties, acquisitions and working capital. The news release contains further details, including the $14,616 fee.

Rye Path has not traded yet today. It closed yesterday at 11.5 cents, down 2 cents on light volume. The current bid-ask is 12 cents - 13 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.

First Gold Initiating Winter Program, Investigating Electro-Magnetic Anomaly

First Gold Exploration, Inc., is beginning its winter program for exploring the Matchi-Manitou property it optioned in Quebec, concentrating upon further investigation of an electro-magnetic anomoly on the property. A grid is currently being constructed in the area, and First Gold plans to initate InfiniTEM and Mag surveys of the area. The news release contains further details, and notes that the Matchi-Manitou is a base metal project (as of now.)

First Gold last traded at 13 cents, down 3.5 cents on the day. The current bid - ask is 13 - 15.

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.

PC Gold Announces $2 Million Private Placement

PC Gold Inc. has signed a deal for a private placement, of 4 million units at 50 cents per unit. Each unit contains one common share plus half a purchase warrant, with strike price of 70 cents and March 12, 2010 expiry date. Gross proceeds will be $2 million, including an exercised over-allotment option. The deal was done through Canaccord, which accepted 50,000 units and 260,000 agent's warrants in addition to cash commission of 6.5% of total gross proceeds. The news release has further details on the deal, and notes that the funds will be used for exploring the Pickle Crow Gold Mine property plus general working capital purposes.

PC Gold has not traded so far today; its last close was on Tuesday, at 45 cents. Current bid is 41 cents. and current ask is 45 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.

Centurion Cuts Joint Venture Deal With Duran Ventures, Arranges Private Placement

Centurion Minerals Ltd. has carved out an option agreement with Duran Ventures, which entitles Centurion to earn up to 60% interest in the Corongo property in Peru. This ten-concession property contains several gold/silver/copper showings and historical mines. Centurion can earn 50% by spendng US$1 million on property exploration by Dec. 31, 2011, with $200,000 spent by the end of this year, and by issuing 1 million shares to Duran on a phased basis. Once the 50% is earned, Centurion can earn another 10% by $250,000 additional exploration spending within 12 subsequent months and issuance of 250,000 shares within 120 subsequent days. The news release has further details, and also spells out the details of a $200,000 private placement of 2 million shares and warrants.

Occasionally-traded Centurion has not traded so far today. It last traded yesterday, closing at 7 cents for a gain of 3 cents. Current bid is also 7 cents, while current ask is 30 cents. Duran has traded today, at 10 cents, leaving it unchanged from yesterday. Bid-ask for Duran is 9.5 - 11.

Centurion's Google Finance web page is here, and Duran'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.

Cash Minerals Buys Mike Lake Property, Four Others From Dynamite Resources

Both companies have announced that the Mike Lake property, in the Yukon, is being bought by Cash Minerals, Ltd. from Dynamite Resources, Ltd. The property comprises 319 claims. Also being bought are four 100%-indirectly-owned Kyrgyz properties. The payment is structured like a private placement: in exchange for the properties, Cash Minerals will issue 22,750,000 shares and 11,375,000 warrants. The warrants have an exercise price of 10 cents and are good for two years. As noted in the news release, this deal has yet to receive regulatory approval.

Cash Minerals has yet to trade so far. It last traded yesterday, closing at 4.5 cents for a drop of a penny on moderate volume. Its bid-ask is 5 cents - 5.5 cents. Dynamite hasn't traded either; it too traded yesterday, closing at 15 cents for a gain of a penny on heavy volume. Its bid - ask is 14 - 14.5.

Cash's Google Finance web page is here; Dynamite'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.

Troymet Find Four VMS Targets On The Key Project

Troymet Exploration Corp. has completed a helicopter-borne VTEM survey of its Key property in B.C., and has identified four geophysical targets from the results. These targets result from higher conductance electromagnetic anomalies. The news release itemizes each anomaly, and notes that the company is considering a field-exploration program this year.

Troymet has not traded so far today. It last closed on Monday, at 2 cents on very light volume, and its current bid-ask is 1.5 cents - 3 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.

Steve Aaker Joins International Tower Hill Board

International Tower Hills Mines Ltd. has welcomed Steve K. Aaker to its board. The news release contains Aaker's career biography, and also notes that an additional 885,000 incentive stock options have been granted pursuant to its 2006 Incentive Stock Option plan. The options have a life of five years and strike price of $2.66.

International Tower closed yesterday at that same $2.66. Current bid-ask is $2.66 and $2.75, respectively.

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.

Sage Gold Discovers Two New Gold Zones Through Prospecting In Paint Lake

After an extensive prospecting program, Sage Gold, Inc. has found two new zones on its Paint Lake property, as suggested by grab samples: one from the Southwest Showing, several from the Southeast showing. All the above-mentioned grab samples showed 1 or more g/t gold. Sage intends to strip, and channel sample, these two zones this year. The news release contains further details, and includes some historical drill results from the already-channel-sampled part of the property. Grab samples from another property, the King's Soloman's Pillars, showed two zones and better sample results, but exploration there is less advanced.

Sage closed yesterday at 6 cents, on heavy volume. As of the time of this post, the bid and ask were both 5.5 cents, indicating a lower 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.

Vantex Starts Drilling Program On Galloway Property

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.

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.