Friday, June 17, 2011

Mining newswire of the day

To give you an idea of the current atmosphere for junior mining companies and how much their news releases affect their share prices, here's one from Reuters this morning:

New York, June 17 (Reuters) UPDATE 4 - Junior exploration mining company Wonderful Resources Inc ( today announced it had discovered the lost city of El Dorado in the middle of the Brazilian Amazon rain forest.  Wonderful Resources' CEO George Bloggs remarked in the company press release that bullion gold and jewelry found in an initial reconnaissance of the location is estimated at 56 metric tonnes of pure gold.

Shares of Wonderful Resources fell in late afternoon thin trading to 56 cents (Canadian).

And yeah I made all that up, but you get the picture right?