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To: ms.smartest.person who wrote (2549)	6/6/2007 9:29:48 PM
From: ms.smartest.person	Respond to of 3198

June 03, 2007 That Was The Week That Was … In Canada By Our Canadian Correspondent minesite.com Minews. Now over to Canada where the markets resumed their upward trajectory, I belive. CC. For the first time in months, it was a rather slow trading week with none of the big blockbuster deals we have grown accustomed to. That said, mixed economic data out of the United States and the Bank of Canada all but stating that it will increase interest rates down the road did not deter investors from putting new money to work. When all was said and done, the TSX Ventures Exchange, home to the most junior exploration stocks, broke its four week losing streak by posting a 1 per cent gain. It was a good week to be a shareholder of WSR Gold as the junior tabled some high-grade gold intersects at its Peter’s mine property in Guyana. So far, eight holes have been punched to test for extensions of the main mineralized zone. One hole returned 1.22 grams gold per tonne over 118 metres from surface, while another yielded 2.70 grams gold across 76 metres, including 13 metres of 11.45 grams gold and 7 metres of 19.42 grams gold. Of course gold is nothing new to the property because the Peter’s Mine was the first significant gold producer in Guyana, put into production back in 2004. Guyana Goldfields acquired the project in 1996 and in 2006 WSR Gold struck a deal to earn a 50 per cent interest in the project for 5 million shares to Guyana Goldfields and a US$5 million commitment toward exploration over a three-year period. WSR ended the week up C$0.145 at C$0.51 on over 6 million shares traded. Carpathian Gold also attracted interest after the company tabled an official resource for its Rovina copper-gold property in Romania. Based on drilling completed up until the end of 2006, the Colnic porphyry has an indicated resource of 68 million tonnes grading 0.64 g/t gold and 0.12% copper, or 1.41 million ozs gold and 175 million lbs copper. The inferred resource for Colnic is 9.4 million tonnes grading 0.47 g/t gold gram and 0.47% copper, or 140,000 ozs gold and 20 million lbs copper. Rovina’s inferred resource is currently 144 million tonnes grading 0.33 g/t gold and 0.24% copper, or 1.38 million ozs gold and 829 million lbs copper. Carpathian ended the week up C$0.28 at C$1.70. Tournigan Gold has elected to join the spin-out parade by planning to reorganize into two companies, one based on uranium and the other focused on gold. Tournigan’s Kremnica and Curraghinalt advanced-stage gold projects, in Slovakia and Northern Ireland respectively, will form the principal assets in the planned new public company that will have its own separate management group. For its part, Tournigan will look to advance the Kuriskova uranium project in eastern Slovakia. Tournigan recently tabled a revised resource estimate for Kuriskova that almost tripled the previous contained uranium tally to about 9 million inferred tonnes grading 0.255% U3O8 (50.5 million contained lbs. U3O8) within three zones on the deposit using a 0.035% U3O8 cut-off grade. Tournigan ended the week up C$0.20 at C$4 even. Moly mania may be cooling its heels as BCM Resources tabled a 190.6 metre drill intercept grading 0.103% molybdenum on the Shan project near Terrace, British Columbia but despite hitting an intra day high of C$1.55, ended the week down C$0.02 at C$1.19. Linear Metals tagged a hot hole at its Cobre Grande project in Oaxaca, Mexico. The hole cut 130 metres of 0.62% copper, 0.51% zinc, 0.01% molybdenum, and 29 grams silver per tonne, plus another 7 metre section grading 0.91% copper, 0.05% zinc, 0.01% molybdenum, and 19.14 g/t silver. Linear ended the week up C$0.23 at C$1.63. On the downside, Peru Copper announced that an exclusivity agreement with an un-named third party has terminated without a deal. The news sent investors running for the exits, as shares in Peru Copper closed at C$5.75, down C$0.91. Peru Copper says it’s looking at alternatives to further its Toromocho copper project which is situated roughly 140 km east of Lima. On the generally ignored front was news that Greystar Resources has received a positive scoping study on its multi-million ounce gold resource in Colombia. The study, which for some unexplained reason only used a pit optimized price of US$500 per ounce, indicates that the Angostura deposit would produce roughly 395,000 ounces of gold and 1.3 million ounces of silver over an 11 year period and generate a 14.2% internal rate of return. Given the large, low-grade resource, the deposit must be highly leveraged to the gold price, so it would be interesting to see the economics at $400 per ounce gold and $650 per ounce gold. Perhaps investors were equally perplexed because shares in Greystar ended the week at C$8.05. down C$0.10 on low volume. A late week binge of buying propelled the junior stocks higher with drill results once again being the share driver. As we head into June, the prospects of a rather protracted pull back on the junior market seem less and less likely.