Hey everyone.  We’re getting ready for another big week in the stock market.  Although it’s pretty flat in futures trading at the time of writing this we’ll see what happens this week.  It’s great that TSX is above 12,000.  There is always a psychological level to break through these big numbers and may become a new resistance level.  That’s cool!

Check out this news release about Underworld Resources:
Kinross Gold Corporation Announces Proposed Acquisition of Underworld Resources Inc.
Underworld Resources Inc. (TSX VENTURE:UW) and Kinross Gold Corporation (TSX:K)(NYSE:KGC) announced today that their respective Boards of Directors have approved a business combination by way of a friendly offer (the “Offer”) by Kinross to acquire 100% of the outstanding common shares of Underworld (the “Common Shares”) not already owned by Kinross. Subject to the execution of definitive agreements, the board of directors of Underworld unanimously recommends the offer to its shareholders and the directors and management team have agreed to tender their shares to the offer. Pursuant to the terms of the letter agreement, Underworld has agreed to work exclusively with Kinross toward the conclusion of a definitive support agreement which is anticipated to be executed and delivered by the parties by March 15, 2010.

(source)

Great news for those of you in this stock!  Originally featured here at the Canadian Penny Stocks blog at $1.41

Technorati Tags: canadian penny stocks, penny stock picks, small cap stocks