News

July 06, 2008

That Was The Week That Was … In Canada

By Our Canadian Correspondent

Minews. Now over to our Canadian Correspondent to see how the Canadian Markets performed this past week.

CC. With the Canada Day holiday on Tuesday, and the United States market closed Friday for Independence Day, the past week on the Canadian Markets was rather uneventful. Once all the trading was done, the TSX Ventures Exchange, home to more junior exploration companies than anywhere else in the world, posted its fourth straight losing week by dropping 1.16 per cent, while the TSX Gold Index fell almost two per cent.

In the news, Eldorado Gold's revised bid for Frontier Pacific has paid off, as over 93 per cent of Frontier shares have been tendered. Eldorado ended the week down C$0.46 at C$8.22, while Frontier closed at C$0.99, down C$0.07.

Last year’s market darling Noront Resources tabled the initial resource calculations for its Eagle One project in Ontario’s James Bay Lowlands. Indicated resources tally 1.834 million tonnes running 1.96% nickel, 1.18% copper, 3.91 grams palladium, 1.12 grams platinum...