FREE ARTICLE PREVIEW: You are enjoying a free sample of exclusive
subscriber content. There is a limit of three free articles per week.

TABLE OF CONTENTS Dec 31, 2012 - Jan 6, 2013 Volume 98 Number 46 - 0 comments

Market news: Toronto Stock Exchange

December 17-20

TEXT SIZE bigger text smaller text
2012-12-26

Optimism that politicians south of the border would come to a resolution regarding the impending fiscal cliff helped hold up equities north of the border during the trading week. The S&P/TSX Composite Index increased 107 points for the period and finished at 12,388.71 points, although fresh concerns that an agreement wouldn’t be reached in time put pressure on equities at press time.

Gold trended downward, with the yellow metal off US$53 to US$1,645.90 per oz. This movement affected the S&P/TSX Global Gold Index, which fell 8 points to 290.6 points. 

The diversified miners fared slightly better thanks to positive economic signs out of China, and the S&P/TSX Capped Diversified Metals & Mining Index was up 8 points to 996.62, in spite of copper dropping 14¢ to US$3.54 per lb. 

A big win for the pro-nuclear Liberal Democratic Party in Japan helped push uranium stocks higher. The party ran on a platform that argued for the partial reversal of the anti-nuclear energy policy implemented by the Democratic Party of Japan after the Fukushima disaster in March 2011. Uranium companies large and small took part in the rally, with Cameco shares up $1.32 to $20.60, Bannerman Resources’ share price climbing 36% to 10¢ and Paladin Energy up 20% to $1.13.

Mercator Minerals secured debt financing and saw its market capitalization climb. The company executed an agreement with RMB Australia Holdings for $30 million and drew down $27.3 million. Full payment is due at the end of 2015 and interest on the loan is Libor, plus 7%. The financing is the first step in its attempt at restructuring of its debt associated with the development of its El Pilar deposit in Mexico’s Sonora state. Mercator produces copper, molybdenum and silver at the Mineral Park mine in Arizona, and its shares finished the period 21% higher at 49¢.

It has been a turbulent time for Centamin and its Sukari mine in Egypt, but things are finally normalizing for the company.  After halting operations at the mine due to a lack of diesel and export issues, both of which involved disputes with the new political regime in the country, operations are back on track. Production at the mine has restarted, and the company’s shares were up 20% to 66¢ as a result. 

The news wasn’t so good for Cline Mining. The company’s share price was off 51% to 9¢ after the company couldn’t make a scheduled semi-annual interest payment. Affected bondholders are scrambling to reclaim their investment, as the payment was for $2.5-million and connected with a $50-million senior secured bond. Cline has metallurgical coal interests in Colorado and is suing the B.C. government for a loss of rights under coal licences in the province.


TSX most active issues, December 10 - 14


    Volume Week
Company Symbol (000s) High Low Close Change
Uranium One UUU 50777 2.37 2.06 2.3 + 0.29
Cline Mng CMK 29570 0.19 0.05 0.09 - 0.1
Aura Mnls ORA 14660 0.35 0.21 0.3 - 0.03
Yamana Gold YRI 14202 17.22 16.07 16.39 - 0.84
Eldorado Gold ELD 13505 13.45 12.25 12.48 - 0.81
Barrick Gold ABX 12231 34.01 32.43 33.22 - 0.7
First Quantum FM 11615 21.85 19.82 21.7 + 0.75
Goldcorp G 10894 36.53 34.64 35.17 - 1.32
B2Gold BTO 10397 3.78 3.36 3.46 - 0.16
Torex Gold TXG 10233 2.24 2.09 2.15 - 0.01

TSX greatest percentage change,  December 10 - 14


    Volume Week
Company Symbol (000s) High Low Close Change
Cerro Grande M CEG 94 0.29 0.19 0.29 + 38.1
Bannerman Res BAN 769 0.1 0.07 0.1 + 35.7
Mediterrn Res MNR 1479 0.11 0.08 0.1 + 33.3
Candente Coppr DNT 707 0.39 0.29 0.37 + 27.5
Victory Nickel NI 1171 0.03 0.02 0.03 + 25
Mercator Mnls ML 4901 0.49 0.41 0.49 + 20.9
Paladin Energy PDN 4592 1.16 1 1.13 + 20.2
Western Lithiu WLC 335 0.15 0.12 0.15 + 20
Centamin CEE 5243 0.71 0.63 0.66 + 20
Xinergy XRG 42 0.79 0.66 0.79 + 17.9
Cline Mng CMK 29570 0.19 0.05 0.09 - 51.3
Red Cresc Res RCB 474 0.04 0.03 0.03 - 28.5
Stockport Expl SPT 262 0.1 0.07 0.08 - 27.2
CaNickel Mng CML 52 0.15 0.13 0.13 - 23.5
Thundermin Res THR 273 0.05 0.04 0.04 - 22.2
Quest Rare Mnl QRM 874 1.26 0.99 1 - 21.8
Rockex Mng RXM 386 0.15 0.1 0.14 - 20.5
MagIndustries MAA 1312 0.11 0.09 0.09 - 18.1
Moneta Porcpn ME 792 0.32 0.25 0.26 - 17.4
Starcore Int V SAM 2616 0.28 0.23 0.24 - 17.2

TSX greatest value change, December 10 - 14


    Week
Company Symbol Change Close Change
Inmet Mining IMN 3078529 73.12 + 3.29
Agrium AGU 2265282 98.23 + 1.71
Cameco Corp CCO 5516808 20.6 + 1.32
First Quantum FM 11615289 21.7 + 0.75
Horizns G Bear HGD 607022 11.3 + 0.52
Sherritt Intl S 6652643 5.76 + 0.51
Thompson Creek TCM 6771234 3.86 + 0.47
Chieftain Mtls CFB 72741 2.99 + 0.39
Russell Metals RUS 804388 27.86 + 0.37
Altius Mnrls ALS 99767 10.05 + 0.3
Agnico-Eagle AEM 3536100 50.1 - 2.82
Walter Energy WLT 21985 34.5 - 2.62
First Majestic FR 5189206 20.21 - 2.43
Silver Wheaton SLW 5623038 34.39 - 2.26
Royal Gold RGL 17444 77.48 - 2.18
Franco-Nevada FNV 1731325 55.39 - 2.03
Goldcorp G 10894056 35.17 - 1.32
Allied Nevada ANV 417418 28.58 - 1.28
Alamos Gold AGI 1028915 17.35 - 1.26
Sprott Ph Silv PHSU 146648 11.61 - 1.15


© 1915 - 2014 The Northern Miner. All Rights Reserved.

Related News
GoviEx pitches Madaouela uranium project in Niger
TSX dragged lower by energy, jobs data, Dec. 1-5
Editorial: After three long years, uranium has its day
Related Press Releases
Paladin Energy Ltd.: Hopu Change in Substantial Shareholding
Paladin Energy Ltd.: Adjustment of Conversion Price of Convertible Bonds
Paladin Energy Ltd.: Successful Completion of A$94.6 Million Retail Entitlement Offer
 

Properties in This Story

Sukari Mine



Horizontal ruler
Horizontal Ruler

Post A Comment

Disclaimer
Note: By submitting your comments you acknowledge that Northern Miner has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that due to the volume of e-mails we receive, not all comments will be published and those that are published will not be edited. However, all will be carefully read, considered and appreciated.

Your Name (this will appear with your post) *

Email Address (will not be published) *

Comments *



* mandatory fields