Take physic, pomp

Trading Post (miners only edition)

Western Goldfields (WGW) up 8% at U$1.60 on the back of a buyout (well, they call it “fusion”) offer from New Gold (NGD). Here’s the Bloomie version of the story. Just to toot a little, back in the October ’08 when WGW stood at U$0.99 in a NOBS report I put a valuation of U$1.58 on the stock at U$900/oz gold. Oh well, that’s another one I’ll never get to sell again…….

Southern Copper up 8% at $14.74 and Freeport (FCX) up 13.5% at $32.55. PCU goes up and down and up and down and up. FCX goes up then down a bit then up a lot and has beaten out PCU these last three months quite easily. It’s the gold in the mix that wot done it, but both loving copper today.

Minera Andes (MAI.t)o up 11% at $0.71. Yep, that McEwen puts on a good party all right.

Fortuna Silver (FVI.v) up 5.75% at $0.92. So far so good and the buy spotted yesterday is already 8.5% up. Not shabby, but no counting chickens yet. Anyone else buy yesterday? Hope so. Volume low.

Great Washbasin Gold (GBG) down 1% at U$0.99. No need to tell shareholders of this one that the debt market is tight. The offering of a cool 100m shares (as reported last week) was priced at an unsurprising C$1.30 this morning. Sad to see such a good prospect hammered by a combo of frozen credit and all-too-trusting mgmt.

Gold Reserve (GRZ) down 1% at U$0.53. Check out the chart (three month comparring GRZ and RML.v) and work it out for yourself.
That Belanger sure knows how to add shareholder value, eh? Worth your loyalty, eh? Any IKN hatemailers feeling plain stupid yet, eh? Volumes are not low; volumes are pathetically low.

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