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Resource Stock Roundup: Thursday, December 4th, 2008
Doug Casey (December 4th, 2008) Writes:
There was no rest for the sellers during Wednesday trading on the Canadian Markets with back door political moves creating government chaos in Ottawa. For the tale of the tape, the TSX Exchange dropped 0.37%, while the TSX Gold Index gave back 3.7% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 2.63% with the declining issuers outpacing the advancers by a 452 to 294 margin on volume of 160 million shares traded.
The big news of the day came from Freeport-McMoRan Copper & Gold (NYSE:FCX), which announced a reduction in copper production and sales for 2009 along with a 50% cut in estimated capital expenditures for 2009. The major eliminated its stock dividend. Oooch. Freeport ended the day at $18.05 down $3.77 in New York trading.
Duran Ventures tagged 146.75 metres running 0.93% copper and 0.04% molybdenum, within a broader zone of 458.1 averaging 0.497% copper and
...Baffin island, CAD, Canada, contrarian profits, Duran Ventures;, Exchange, Freeport, Freeport-McMoRan Copper & Gold, Garson Gold;, Manitoba, Market Commentary, New Britannia Mine;, New York, Nunavut, Ottawa, Peru, Tsx, TSX Venture Exchange, USD
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