Across the board selling continued during Monday trading on the Canadian markets, with investors betting that the economic outlook will get worse before it gets better. For the tale of the tape, the TSX Exchange fell 2.88%, while the TSX Gold Index plunged 3.6% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, lost 1.97% with the declining issuers outpacing the advancers by a 489 to 264 margin on volume of 121 million shares traded.

Management of Forsys Metals approved the C$7 per share takeover offer tabled by George Forrest International Afrique SPRL. The advanced uranium player added C$1.36 to close at C$6 even.

Shares of Northern Abitibi Mining lost C$0.015 to close at C$0.075 after the company reported a 3.7 metre intercept running 50.05 grams gold per tonne at the Viking property in Newfoundland. Northern is earning a majority interest in the project from Altius Resources, which closed unchanged at C$4.70.

Sprott Resource tabled earnings of C$67.15-million or C$0.76 per share in the third quarter and C$73.84 million or $1.13 per share in the first nine months of the year. At the end of the quarter, the company had C$155 million in cash and subsequently sold its remaining stake in PBS Coals for another C$140.82 million. Sprott ended the day down C$0.06 at C$1.98.

The junior board hit fresh multi-year lows and appears poised to move ever lower. We will see what Tuesday trading has in store.

Source: Resource Stock Roundup: Tuesday, November 18th, 2008

Last 5 posts by Doug Casey

• Resource Stock Roundup:Monday, July 27, 2009 - July 27th, 2009
• Base Metals Higher - July 27th, 2009
• Crude Continues to Climb - July 27th, 2009
• Dollar Moves Lower - July 27th, 2009
• Gold Pushes Through $950 - July 27th, 2009