Shares in Canadian Zinc shot up today, probably in response to Monday’s year end and first quarter results. CZN traded 1.3 million shares and gained 23, or 43%, to close at 77. The company is well financed, with $14.67 million in cash as of March 31st and is planning to carry out a major exploration program at its Prairie Creek property in western NWT, including initiating underground decline development and underground drilling.
The Toronto Stock Exchange S & P Composite closed up .42% or 34 points to close at 8,196.79. The diversified metals and mining index was up 8.3 points, or 4.13% to close at 209.38 points.
The TSE gold index closed up a modest 1.43%, just 2.74 points higher to close at 194.27 points. Gold closed in the afternoon in London at US$380.75, up $3.05.
Among the most active Eldorado Gold traded 7.7 million shares to close up 18 at $3.06. This seems to be in anticipation of an update that will be given tomorrow on their Kisladag gold project in Turkey.
Wheaton River once again traded in high volume, with 5.8 million shares trading, to close up 5 at $3.63.
Dynatec traded 2 million shares and was up 10%, or 13 to close at $1.38. Drill results from one of their copper-nickel-precious metal joint venture properties in the Sudbury area were released today.
Jaguar nickel is up by 11.3%, or 6, to close at 59 with a volume of 1.8 million shares traded on no news.
Thistle Mining continued its upward swing, trading 2.4 million shares to close 1 higher at 18.