It was all about gold during Tuesday trading on the Canadian markets, with investors scurrying to bullion as a safe haven against the global economic melt down. For the tale of the tape, the TSX Exchange plunged 3.45%, while the TSX Gold Index surged 4.6% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 0.70%, with the decliners swamping the advancers by a 472 to 336 margin on 161 million shares traded.

It was a rough day for Teck Cominco (NYSE:TCK) after the world’s second-largest zinc producer posted a fourth quarter loss of C$607 million or C$1.28 per share compared to a profit of C$280 million or C$0.63 per share in the same period a year earlier. The debt-heavy miner took a C$844 million writedown in the quarter. Teck ended the session down C$0.48 at C$4.44.

Cameco (NYSE:CCJ), the world’s largest uranium miner posted a fourth quarter profit of C$31 million or C$0.08 per share, compared to a profit of C$61 million or C$0.17 per share in the fourth quarter of 2007. For the full year, Cameco’s profits jumped 8 per cent to C$450-million or C$1.28 a share. Shares in the company closed at C$18.17, for a C$1.03 loss.

Minera Andes solved its cash and regulatory problems with Robert McEwen electing to take down nearly 18.3 million shares at C$1 per share rather than the earlier 121 million shares at C$0.33. McEwen will also assume the Minera’s $17.5 million loan owing to Macquarie Bank. Minera ended the day up C$0.27 at C$0.75.

The only green seen these days is in the form of bullion. We will see what Wednesday trading has in store.

Source: Resource Stock Roundup: Wednesday, February 18th, 2009

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