Today on Stockhouse
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Ticker Trax’s Thom Calandra outlines a source of skarn for this gold junior.
Top Bullboards post: “We've got a great iron asset, less than 20 million shares outstanding, and a team finalizing a plan to aggressively advance the project to bring its valuation in line with our peers in the iron market. The historical resource gives an indication to the potential size of the project and our focus is now to upgrade the historic resources to 43-101 compliancy," comments Company President, Steve de Jong. "The Technical Report completed on Radio Hill in April 2010 outlined the program required to upgrade the historical resources and the Company is now taking the necessary steps to make this program a reality." Presumably they have been working on a financing plan with an intent on initiating the developmental recommendations from the MICON report which called for ~$3.5 million in expenditures for a 12,000m drilling program to occur over a 12 month period. I suppose a PP of 10 million shares would just do the trick....or say 5 million share PP and partner with a senior to fund the other 50% project cost for a 30% earn-in (my speculation only)... ..hopefully they will more fully elucidate their plan in a timeframe which is consistent with what they stated above.” From luker222 on the Rogue Resources (TSX: V.RRS, Stock Forum) board.
Top Bullboard:Intertainment Media (TSX: V.INT, Stock Forum) received the most reads and posts on a day its share price slipped more than 16%.
Top blog: WesternRookie believes this junior is fast tracking copper production in Colombia in The Western Investor blog.
For news about small stocks that made big moves in Wednesday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
“The Fed wants to present itself as having a plan, being consistent and not adding to the uncertainty in the market. You may not like the track it’s on, but you can be confident of where it’s going, and that consistency translates into a positive for the market,” said Marc Pado, U.S. market strategist at Cantor Fitzgerald, in an interview with MarketWatch.
| Selected expected U.S. earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Cliffs Natural Resources (NYSE: CLF) |
Q1 |
$2.25 vs. $0.55 |
|
| Exxon Mobil (NYSE: XOM) |
Q1 |
$2.07 vs. $1.33 |
|
| Hecla Mining Co. (NYSE: HL) |
Q1 |
$0.12 vs. $0.07 |
|
| Microsoft (NASDAQ: MSFT) |
Q3 |
$0.56 vs. $0.45 |
|
| Procter & Gamble (NYSE: PG) |
Q3 |
$0.97 vs. $0.83 |
|
| VeriSign (NASDAQ: VRSN) |
Q1 |
$0.32 vs. $0.22 |
|
| Selected expected Canadian earnings releases for Thursday |
| (Consensus Estimates vs. Last Year) |
|
| Agnico-Eagle Mines (TSX: T.AEM) |
Q1 |
$0.58 vs. $0.31 |
|
| Inmet Mining (TSX: T.IMN) |
Q1 |
$1.61 vs. $1.42 |
|
| Potash Corporation (TSX: T.POT) |
Q1 |
$0.76 vs.$0.49 |
Today In The Markets
Toronto stock market trims losses after US Fed gives positive outlook
|
| DJIA |
12,690.96 |
+95.59 |
 |
|
| NASDAQ |
2,869.88 |
+22.34 |
|
|
| S&P500 |
1,355.66 |
+8.42 |
|
|
| S&P/TSX |
13,892.57 |
-16.53 |
 |
|
| S&P/TSX Venture |
2,251.34 |
+18.84 |
|
|
Toronto & New York (The Canadian Press) - The Toronto stock market regained some ground Wednesday after the U.S. Federal Reserve said it expects a moderate economic recovery to continue but will leave interest rates "exceptionally low" for "an extended period."
The S&P/TSX composite index was down 16.53 points to 13,892.57 after earlier posting triple-digit losses. The TSX Venture Exchange added 18.84 points to 2,251.34.
Wall Street markets rebounded into positive territory after the Fed announcement that ended a two-day meeting.
The Dow Jones industrial average gained 95.59 points to 12,690.96, while the Nasdaq index added 22.34 points to 2,869.88 and the broader S&P 500 index gained 8.42 points to 1,355.66.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
TC PipeLines, LP (NASDAQ: TCLP, Stock Forum)
TC PipeLines, LP announced the commencement of an offering of 6,300,000 common units in an underwritten public offering. The Partnership plans to grant the underwriters a 30-day option to purchase up to 945,000 additional common units. The Partnership intends to use the net proceeds of the offering to partially fund the previously announced acquisition of a 25 per cent interest in both Gas Transmission Northwest LLC and Bison Pipeline LLC from TransCanada Corporation(NYSE:TRP, Stock Forum , Stock Forum).
North American Palladium Ltd. (TSX: T.PDL, Stock Forum)
North American Palladium Ltd. released an updated mineral reserve and mineral resource estimate for its Vezza gold project and Sleeping Giant gold mine, located in the Abitibi gold district in Quebec. Vezza's measured and indicated resource increased by 12% to 321,000 contained ounces. Inferred resources total 102,000 ounces. 2010 drilling at the Sleeping Giant mine increased the contained ounces in the measured and indicated category giving a higher level of confidence in the mineral resource.