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TABLE OF CONTENTS Apr 7 - 13, 2014 Volume 100 Number 8 - 0 comments

Dow Jones rises and S&P 500 falls, March 24-28

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2014-04-02

Comments from Chinese Premier Li Keqiang that China would likely invest in infrastructure to bolster economic growth while the U.S. shows a strengthening economy — with consumer spending rising 0.3% in February after a 0.2% gain in January — put downward pressure on precious metals and lifted base metals.

Gold fell below its 200-day moving average, closing the trading week at US$1,294.90 per oz. in a 3% drop, while silver fell below US$20 per oz. to US$19.81 per oz.  Prices for copper and iron ore, by contrast, rose 3% and 1.5%. The Philadelphia Gold & Silver Index lost 5.23% to finish the week at 93.36. The Dow Jones Industrial Average inched up 0.13% to 16,323.06, while the S&P 500 Index fell 0.48% to 1,857.62.

Tension over Russia’s annexation of Crimea and sanction threats kept the pressure on Kinross Gold, making it the week’s second most actively traded stock and sending its shares down US52¢ to US$4.21 apiece. The company launched commercial production at Dvoinoye, a high-grade, low-cost underground mine in Russia’s Chukotka region in October 2013. Dvoinoye is the fourth mine the company has operated in Russia, and Kinross says it’s the company’s lowest-cost jurisdiction and a core operating region. Dvoinoye is 100 km north of Kinross’ Kupol mine, and at peak production is expected to produce 1,000 tonnes of ore per day, which will be moved to the mill at Kupol via an all-season road.

The correction in gold and silver prices hit many precious metal mining companies. Goldcorp dropped US$1.52 to US$25.11 per share, Agnico Eagle Mines lost US$1.33 to US$31.29 and Barrick Gold fell US$1.09 to US$18.30 per share, all on no company-related news. Silver producers like Hecla Mining — the largest and one of the lowest-cost U.S. silver producers — dropped US35¢ to US$3.11 per share, while Avino Silver & Gold Mines, which describes itself as one of the industry’s purest silver producers, dropped 20% to US$1.56 per share.

U.S. most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Alcoa* AA 127475 12.75 11.85 12.48 + 0.46
Kinross Gold* KGC 76312 4.76 4.01 4.21 - 0.52
Barrick Gold* ABX 55583 19.2 17.72 18.3 - 1.09
North Am Pall* PAL 45105 0.61 0.44 0.47 + 0.04
Arch Coal* ACI 42769 4.98 4.46 4.81 + 0.29
Newmont Mng* NEM 40033 24.6 22.66 23.92 - 0.66
Freeport McMo* FCX 38001 33.09 31.5 32.86 + 0.09
Alpha Nat Res* ANR 36508 4.63 4.12 4.26   0
Hecla Mining* HL 30191 3.38 3.04 3.11 - 0.35
Goldcorp* GG 25166 26.49 24.35 25.11 - 1.52

U.S. greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Dejour Enterp* DEJ 1496 0.29 0.25 0.26 + 12.8
Tanz Roy Exp* TRX 1105 2.4 2.12 2.39 + 12.7
North Am Pall* PAL 45105 0.61 0.44 0.47 + 10.3
Loncor Res* LON 96 0.18 0.13 0.16 + 10.3
Arch Coal* ACI 42769 4.98 4.46 4.81 + 6.4
North Am En P* NOA 41 7.25 6.74 7.2 + 5.7
Oxford Res P* OXF 25 1.41 1.25 1.34 + 5.5
PolyMet Mng* PLM 1044 1.45 1.31 1.36 + 5.4
Alcoa* AA 127475 12.75 11.85 12.48 + 3.8
Timberline Rs* TLR 567 0.16 0.15 0.15 + 3.4
Alexco Res* AXU 2151 2.05 1.53 1.61 - 22.9
Golden Mnls* AUMN 1761 1.07 0.84 0.89 - 21.1
Avino Silver* ASM 2262 1.96 1.38 1.56 - 20
Tasman Mtls* TAS 907 1.82 1.36 1.39 - 18.4
Intl Tower Hi* THM 215 0.99 0.74 0.84 - 17.3
Entree Gold* EGI 467 0.42 0.35 0.37 - 16.6
Mines Managem* MGN 800 1.38 1.02 1.11 - 16.5
Allied Nevada* ANV 2199 5.39 4.19 4.64 - 15
Northern Dyn* NAK 636 1.08 0.95 0.97 - 14.2
Uranium Ener* UEC 725 1.6 1.3 1.33 - 14.1

U.S. greatest value change


Company Symbol Change Close Change
Compass Mnls* CMP 245676 81.38 + 1.61
Agrium* AGU 540576 96.41 + 1.33
BHP Billi-BBL* BBL 2200547 61.7 + 1.05
BHP Billi-BHP* BHP 7752267 67.43 + 0.94
Potash C Sask* POT 16270684 35.56 + 0.81
Alcoa* AA 1.27E+08 12.48 + 0.46
Vale* VALE 16572837 13.68 + 0.44
Rhino Res* RNO 66249 13.5 + 0.44
Soc Quim&M Ch* SQM 2906091 30.93 + 0.44
North Am En P* NOA 40588 7.2 + 0.39
Royal Gold* RGLD 3746367 63.5 - 5.67
Randgold Res* GOLD 2705061 75.73 - 5.44
Silver Wheatn* SLW 21562654 23.15 - 2.08
Goldcorp* GG 25165853 25.11 - 1.52
Cabot Corp* CBT 772341 56.96 - 1.48
Consol Energy* CNX 10961863 39.75 - 1.48
Central GoldT* GTU 202549 45.58 - 1.37
Agnico-Eagle* AEM 8131181 31.29 - 1.33
Coeur Mng* CDE 11004116 9.63 - 1.26
Silver Std Re* SSRI 8368451 10.22 - 1.12


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