Yamana Gold Inc. (YRI)TSX (AUY)NYSE, a stock I like released their first quarter results today. Wow what a difference one year has made for this gold mining company.

Investors will be pleased to note earnings and revenue hit record levels for the quarter. earnings for the quarter were $134.7 million, an increase of 185 % from the first quarter last year, and a stunning 282% increase from the previous quarter.

Revenues jumped to $356.1 million, a 145% increase over last years first quarter, and a 63% increase over the previous quarter.

As always Good luck to all Yamana Gold investors.

I’ve provided a link to the official news release below

Photo Credit : Covilha

http://www.marketwire.com/mw/release.do?id=853656&k=yri

A surge in the price of oil helped fuel Toronto’s TSX 554 point gain this week. South of the border Citigroup Inc.’s  earnings were not as bad as many investors had expected, this helped the American markets post a strong gains for the week.

Friday saw Toronto’s TSX jump 121 pts. to 14,237 pts. for a gain of 554 pts. on the week.

The TSX Venture Exchange was down 18 points to 2,572 pts., a gain of 215 pts. on the week.

In New York, the Dow Jones industrials were up 228 pts. to 12,849 pts.  up 524 pts. on the week.

The Nasdaq was up 61 points to 2,402 pts. finishing the week 112 pts. in the black.

The S&P 500 finished 24 pts. higher on Friday to 1,390 pts. finishing the week 58 pts. higher.

It was a mostly down week for the stocks I like,with the exception of Connacher Oil and gas Ltd. posting an impressive  16% gain on the week.

-Connacher Oil And Gas Ltd. (CLL)TSX $3.50to $4.07

-Canoro Resources Ltd (CNS)TSX:V $1.44 to $1.436

- Montello Resources Ltd. (MEO)TSX:V  $.19 to $.19

-Roca Mines Inc. (ROK)TSX:V $ 2.68 to $2.78

-Street TRACKS Gold E.T.F. (GLD)NYSE $ 91.30(USD) to $90.62(USD)

- Timminco Ltd (TIM)TSX $26.33 t0 $22.95

-Yamana Gold Inc. (YRI)TSX $14.54 to $14.54

Anyway that’s my two cents on this weeks markets.

photo credit: unaesthetic

Further proof of just how nervous investors are, was seen across the markets  Friday, as markets sold off in response to General Electric Co.’s first quarter results.

Friday saw  Toronto’s TSX lose 226 pts. to 13,683 pts. for a gain of 15 pts. on the week.

The TSX Venture Exchange was down 10 points to 2,557 pts., a gain of 25pts. on the week.

In New York, the Dow Jones industrials were down 256 pts. to 12,325 pts.  down 284 pts. on the week.

The Nasdaq was down 61 points to 2,290 pts. finishing the week 80 pts. in the red.

The S&P 500 finished 27 pts. lower on Friday to 1,332 pts. finishing the week 538 pts. lower.

It was a mixed week for the stocks I like,

-Connacher Oil And Gas Ltd. (CLL)TSX $3.37 to $3.50

-Canoro Resources Ltd (CNS)TSX:V $1.55 to $1.44

- Montello Resources Ltd. (MEO)TSX:V  $.18 to $.19

-Roca Mines Inc. (ROK)TSX:V $ 2.70 to $2.68

-Street TRACKS Gold E.T.F. (GLD)NYSE $ 90.25(USD) to $91.30(USD)

- Timminco Ltd (TIM)TSX $26.49 t0 $26.33

-Yamana Gold Inc. (YRI)TSX $15.04 to $14.54

Anyway that’s my two cents on this weeks markets.

photo credit: unaesthetic

Montello Resources Ltd. a stock I like, announced that they have received approval to drill the Morgan Highpoint test well #5. Montello expects to spud the well on Monday April 14th, weather permitting.

Investors will be pleased to note that Montello has logged the Morgan Highpoint test well #4, and is performing the well logging on the John Bowen #1 and #2 wells today. Completion plans will be finalized once the well logs have been analyzed.

I have provide a link to the official news release below.

Good luck to all Montello resources Ltd. investors

http://www.montello.com/s/NewsReleases.asp?ReportID=295464&_Type=News-Releases&_Title=Montello-Resources-et-al-Ramp-up-To-Drill-Morgan-Highpoint-5-Test-Well-Comm…

It was a positive week for North American markets, as investors seemed to shrug off negative economic data. The U.S. labor department released their jobs report on Friday, showing the jobless rate increasing to 5.1 %.

This week saw the end of the first quarter and the beginning of the second quarter. Many investors are bracing themselves for the first quarter earnings reports starting next week. The U.S. economy has definitely slowed down, but investors are still buying stocks at what is thought to be bargain basement prices.

Friday saw  Toronto’s TSX gain 116 pts. to 13,668 pts. for a gain of 435 pts. on the week.

The TSX Venture Exchange was up 23 points to 2,532 pts., a gain of 6 pts. on the week.

In New York, the Dow Jones industrials were down 16 pts. to 12,609 pts.  up 393 pts. on the week.

The Nasdaq was up 7 points to 2,370 pts. finishing the week 109 pts. in the black.

The S&P 500 finished 55 pts. higher on Friday to 1,370 pts. finishing the week 55 pts. higher.

It was a mixed week for the stocks I like, with Timminco Ltd, Roca Mines, and Connacher Oil and Gas amongst the gainers. I added Montello Resources Ltd. (MEO)TSX:V to the portfolio again, buying in at $.18

-Connacher Oil And Gas Ltd. (CLL)TSX $3.07 to $3.37

-Canoro Resources Ltd (CNS)TSX:V $1.62 to $1.55

- Montello Resources Ltd. (MEO)TSX:V bought at $.18

-Roca Mines Inc. (ROK)TSX:V $ 2.65 to $2.70

-Street TRACKS Gold E.T.F. (GLD)NYSE $ 91.88(USD) to $90.25(USD)

- Timminco Ltd (TIM)TSX $24.16 t0 $26.49

-Yamana Gold Inc. (YRI)TSX $15.35 to $15.04

Anyway that’s my two cents on this weeks markets.

photo credit: unaesthetic

After five consecutive positive days, the TSX was done sharply on Friday. The main culprits contributing to the losses were decreases in the price of oil and gold. Friday saw the price of bullion drop $17.50, to $936.50, and oil was off $1.96 to $105.62.

As if the drop off in commodity prices weren’t enough, more dire predictions regarding the U.S. financial sector, sent Canadian bank stocks tumbling.

Friday saw  Toronto’s TSX give up 171 pts. to 13,233 pts. for a gain of 458 pts. on the week.

The TSX Venture Exchange was up 5 points to 2,526 pts., a gain of 64 pts. on the week.

In New York, the Dow Jones industrials were down 86 pts. to 12,216 pts.  down 145 pts. on the week.

The Nasdaq was down 19 points to 2,261 pts. finishing the week 3 pts. in the black.

The S&P 500 finished 10 pts. lower on Friday to 1,315 pts. finishing the week 14 pts. lower.

It was a mostly positive week for the stocks I like, with Timminco Ltd up 50% on the week.

-Connacher Oil And Gas Ltd. (CLL)TSX $2.99to $3.07

-Canoro Resources Ltd (CNS)TSX:V $1.50 to $1.62

-Roca Mines Inc. (ROK)TSX:V $ 2.65 to $2.65

-Street TRACKS Gold E.T.F. (GLD)NYSE $ 89.91(USD) to $91.88(USD)

- Timminco Ltd (TIM)TSX $16.10 t0 $24.16

-Yamana Gold Inc. (YRI)TSX $16.34 to $15.35

Anyway that’s my two cents on this weeks markets.

photo credit: unaesthetic

Yamana Gold a stock I like, reported its q4 and year end results for 2007. Results were positive in comparison to the previous year.

Investors will be pleased to not a 324% increase in earnings over 2006.
During 2007 Yamana completed two acquisitions totaling $4.8 billion. Yamana picked up Reno-based Meridian Gold, and fellow Canadian miner Northern Orion Resources. Now Yamana is focusing its efforts on organic growth.

Yamana’s target is to lift out and refine 1.3 million gold equivalent ounces (GEO) this year, and progressively increase output to a sustained level of 2.2 million ounces of gold by 2012. Yamana plans a capital investment of $1.3 billion over the next three years. Yamana will fund this with cash on hand, and operating cash flow – which is all very positive news.”

I have posted a link to the official news release below.

Good luck to all Yamana Gold investors.

photo credit: covilha

http://www.yamana.com/News/PressReleases/2008/YamanaGoldReportsFourthQuarterandYearEndResults-Record2007RevenueandEarningsIncreasedMineralReservesOperationalandExplorationUpdate/default.aspx

Overall it was a bad week for Canadian markets as commodities experienced a sharp sell off, as a result the commodity laden Toronto stock exchange(TSX), and its junior board the venture exchange (TSX:V) experienced sell offs of their own.

The price of gold fell from a high of $1030/oz on Monday to $920/oz on Friday.

Oil peaked at $111.80/barrel early in the week, but settled at $101.84 by weeks end.It was a rebound week for the American markets. The week started out badly with the collapse of Bear Stearns. Shares of the beleaguered investment bank fell from $70 to $2 in five trading days, culminating in a federal reserve assisted buyout by J.P. Morgan.

Confidence in financials emerged as profits taken from commodities were reinvested in bank stocks.

Thursdays trading saw a slight rebound with Toronto’s TSX gaining 66 pts. to 12,775 pts. for a loss of 477 pts. on the week.

The TSX Venture Exchange was down 22 points to 2,462 pts., a loss of 180 pts. on the week.

In New York, the Dow Jones industrials were up 1261 pts. to 12,361 pts.  up 410 pts. on the week.

The Nasdaq was up 48 points to 2,258 pts. finishing the week 46 pts. in the black.

The S&P 500 finished 31 pts. higher on Thursday to 1,329 pts. finishing the week 48 pts. higher.

It was a bloodbath for the stocks I like, with all stocks in my portfolio down sharply. I have been trimming the size of my positions over the last two months, with the exception of Canoro Resources Ltd.

I could not resist adding to my position in Canoro with the stock trading below it’s net asset value. Another reason that I added to my Canoro position is that investors should be getting news soon regarding Canoro’s Amguri 13 well.

-Connacher Oil And Gas Ltd. (CLL)TSX $3.32 to $2.99

-Canoro Resources Ltd (CNS)TSX:V $1.68 to $1.50

-Roca Mines Inc. (ROK)TSX:V $ 2.70 to $2.65

-Street TRACKS Gold E.T.F. (GLD)NYSE $ 98.71(USD) to $89.91(USD)

- Timminco Ltd (TIM)TSX $18.50 t0 $16.10

-Yamana Gold Inc. (YRI)TSX $19.12 to $16.34

Anyway that’s my two cents on this weeks markets.

photo credit: unaesthetic

It was a week that saw Carlyle Capital Corp miss a $ 400 million margin call, forcing creditors to seize the funds assets. Friday saw Bear Sterns finally admit that it had serious liquidity issues. Bear’s issues are so bad in fact, that they had to run to the fed for a bail out.

The federal reserve’s decision to provide a socialist solution for wealthy bankers did not impress investors. Bear Sterns shares tumbled nearly 50% in the first 1/2 hour of trading Friday.

On Bay Street  and Wall Street, nervous investors continued to flock to the safety of oil and gold futures, with oil hitting $111/barrel, and gold briefly trading at $ 1002/oz.

Fridays trading reflected the Bear Sterns, with Toronto’s TSX giving up 190 pts. to 13,252 pts. for a loss of 29 pts. on the week.

The TSX Venture Exchange was down 38 points to 2,642 pts., a loss of 86 pts. on the week.

In New York, the Dow Jones industrials were down 194 pts. to 11,951 pts.  up 58 pts. on the week.

The Nasdaq was down 51 points to 2,212 breaking even on the week.

The S&P 500 finished 27 pts. lower on Friday to 1,288 finishing the week 5 pts. lower.

It was a mixed week for the stocks I like, with  Yamana Gold, Street TRACKS Gold, and Connacher Oil and Gas finishing the week in the black.

-Connacher Oil And Gas Ltd. (CLL)TSX $3.22 to $ 3.32

-Canoro Resources Ltd (CNS)TSX:V $1.76 to $1.68

-Roca Mines Inc. (ROK)TSX:V $ 2.84 to $2.70

-Street TRACKS Gold E.T.F. (GLD)NYSE $ 96.09(USD) to $98.71(USD)

- Timminco Ltd (TIM)TSX $19.70 t0 $18.50

-Yamana Gold Inc. (YRI)TSX $18.18 to $19.12

Anyway that’s my two cents on this weeks markets.

photo credit: unaesthetic

It was another bad week for North American markets as more bad credit news, and disappointing jobs data were released.

Cititgroup announced that they were trimming $45 billion of mortgage based assets.

The week finished with pessimistic jobs data, payroll losses in February were 63,000. The jobs numbers were just one more piece of evidence that the U.S. economy is in recession.

Oil continued it’s ascent, reaching a high of $106/barrel on Friday, but settled lower to $ 105.15/barrel.

It was a choppy week for the price of gold, trading as high as $989/oz, but closing the week out a t $ 974/0z.

Fridays trading reflected the bad news, with Toronto’s TSX giving up 78 pts. to 13,281 pts. for a loss of 301 pts. on the week.

The TSX Venture Exchange was down 41 points to 2,728 pts., a loss of 125 pts. on the week.

In New York, the Dow Jones industrials were down 146 pts. to 11,893 pts. down 373 pts. on the week.

The Nasdaq was down 8 points to 2,212 down 59 points on the week.

The S&P 500 finished 10 pts. lower on Friday to 1,293 finishing the week 37 pts. lower. Thats a 17 % haircut from the high of 2007.

It was mostly a down week for the stocks I like, with only Yamana Gold and Canoro Resources up on the week.

-Connacher Oil And Gas Ltd. (CLL)TSX $3.49 to $ 3.22

-Canoro Resources Ltd (CNS)TSX:V $1.68 to $1.76

-Roca Mines Inc. (ROK)TSX:V $ 3.05 to $2.84

-Street TRACKS Gold E.T.F. (GLD)NYSE $ 96.18(USD) to $96.09(USD)

- Timminco Ltd (TIM)TSX $21.37 t0 $19.70

-Yamana Gold Inc. (YRI)TSX $17.71 to $18.18

Anyway that’s my two cents on this weeks markets.

photo credit: unaesthetic