Goldsource Mines Inc GXSFF

Primary Symbol: V.GXS

Metals & Mining Gold

Goldsource Mines Inc. is a Canada-based resource company, which is engaged in exploration activities. The Company is focused on the Eagle Mountain Gold Project (Eagle Mountain) for which it has a 100% interest in the Eagle Mountain Prospecting License (EMPL) and the Kilroy Mining Permit (collectively, the Property). The Property is located approximately seven kilometers (km) south of Mahdia Township (population approximately 3000). Mahdia Township can be accessed by road from Georgetown, a driving distance of approximately 325 km, or via air by a commercial flight. The Property consists of an area of approximately 5,050 hectares (ha) (12,480 acres) in central Guyana, South America. 4,784 hectares (11,820 acres) of the Eagle Mountain Property relate to the EMPL while 266 ha (660 acres) relate to the Medium Scale Mining Permit held by Kilroy Mining Inc. (Kilroy), on which the Company has a long-term lease with a 2% net smelter return royalty.

TSXV:GXS - Post by User

Goldsource Mines Inc

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Post by marketminoron Jan 21, 2009 3:52pm

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Post# 15719243

Wow this is BAD!!!

Price drops hit low mark
Winnipeg Sun, Canada -
The most significant price drops were in the petroleum and coal industry, down 18.5%.Markets hit hard North American markets tumbled yesterday as financial ...

Price drops hit low mark

Manufacturing sales fell 6.4% to $48.4 billion in November, their lowest level since December 2004 and fourth straight monthly decline. Constant dollar manufacturing sales, which are measured in 2002 prices, decreased 3% in November -- meaning about half the drop in current dollar series reflected price declines from October. The most significant price drops were in the petroleum and coal industry, down 18.5%.Markets hit hard

North American markets tumbled yesterday as financial stocks sold off on the banking sector's latest woes, while the Toronto market was also hit by sharp slides in energy stocks amid lower oil prices. "Until we gain confidence in large financial institutions, it's going to be a choppy market," said Ian Nakamoto of MacDougall, MacDougall and MacTier. U.S. President Barack Obama's inauguration did nothing to calm concerns about worsening economic conditions. New York's Dow Jones industrial average dropped 332.13 points to 7,949.09. The TSX tumbled 336.55 points to 8,504.93.

SMELTER TO CLOSE

Rio Tinto Alcan is permanently closing its Beauharnois smelter in Quebec and curtailing production at the Vaudreuil alumina refinery. The moves are part of a new 6% reduction in aluminum production, which will cost 1,100 jobs worldwide at the international metal giant.

BELL SEEKS MORE CUTS

Bell Canada says it wants to cut its workforce another 1,500 jobs through a retirement incentive to qualifying unionized employees, the latest move by Canada's largest telecom operator to streamline and cut operating costs.

Bell said the offer affects workers represented by the Communications, Energy and Paperworkers' Union of Canada.