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TABLE OF CONTENTS Jan 27 - Feb 2, 2014 Volume 99 Number 50 - 0 comments

Toronto Stock Exchange, Jan. 13-17

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2014-01-22

Higher gold prices — up US$5.50 during the week to US$1,254.10 per oz. — helped lift the S&P/TSX Composite Index 1.02%, or 140.68 points, to 13,888.21. The S&P/TSX Global Gold Index climbed 6.67%, or 11.12 points, to 177.81; and the S&P/TSX Capped Metals & Mining Index rose 9.81%, or 76.46 points, to 856.21. The loonie weakened against the U.S. dollar, sliding 0.7% during the trading week, marking a four-year low against the U.S. currency.

Goldcorp’s $2.6-billion offer for Osisko Mining and its Malartic gold mine in Quebec sent Osisko’s shares up $1.31 to $6.47, and made it the week’s most actively traded stock, with 90 million shares changing hands. Under Goldcorp’s bid, Osisko shareholders would get 0.146 of a Goldcorp share, plus $2.26 in cash for each Osisko share held, for a total value of $5.95 per share — a 15% premium to Osisko’s Jan. 10 closing price, and a 28% premium over its 20-day, volume-weighted average price.  Goldcorp shares rose 84¢ to $25.43. Osisko’s directors recommended rejecting the bid on Jan. 20.

Teranga Gold was the second most active stock of the week with 38 million shares trading hands. The company announced that it has completed its US$135-million streaming transaction with Franco-Nevada Corp., and closed its acquisition of the balance of the shares it did not already own in the Oromin Joint Venture Group. Teranga also retired US$30 million of a US$60-million debt facility with Macquarie Bank. Teranga’s shares closed 6¢ higher at 65¢ per share.

A ban on nickel-ore exports from Indonesia effective Jan. 19 helped lift prices of the metal and the fortunes of nickel producers First Nickel, First Quantum Minerals and Lundin Mining. Shares of First Quantum advanced $1.70 to $20.21 on no company-related news, as did those of Lundin Mining, which climbed 32¢ to $5.04, also on no news. First Nickel jumped 60% to 4¢ per share on production results and 2014 guidance for its Lockerby mine in northern Ontario’s Sudbury basin, which reached full production in 2013. The company expects Lockerby to produce 14 million contained lb. nickel and 7 million contained lb. copper this year. Last year the mine turned out 12.8 million contained lb. nickel and 7.5 million contained lb. copper. As of Dec. 31, it had unrestricted cash of $3.5 million and total liquidity of $8.5 million, which includes a revolving-credit facility.

Capstone Mining advanced 28¢ to $3.19 per share. The company provided guidance for 2014 for its Cozamin copper–silver–zinc–lead mine in Mexico and its Minto copper–gold–silver mine in the Yukon. It will provide guidance for its third mine, Pinto Valley, a copper–molybdenum mine in Arizona, before March. Cozamin and Minto produced a 37,500 tonnes of copper concentrates in 2013, and the company forecasts that figure should rise to 38,500 tonnes in 2014.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Osisko Mng OSK 89428 6.48 6.12 6.47 + 1.31
Teranga Gold TGZ 38104 0.66 0.54 0.65 + 0.06
B2Gold BTO 17468 2.75 2.29 2.74 + 0.43
Goldcorp G 15424 25.52 23.97 25.43 + 0.84
Capstone Mng CS 14106 3.26 2.96 3.19 + 0.28
Kinross Gold K 13450 5.29 4.84 5.23 + 0.4
Lundin Mng LUN 13286 5.13 4.65 5.04 + 0.32
Teck Res B TCKB 13137 29 25.88 28.66 + 2.52
Potash Cp Sask POT 12892 38.87 36.29 37.49 + 0.04
Yamana Gold YRI 12478 10.61 9.82 10.54 + 0.47

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Revolution Res RV 1163 0.05 0.03 0.04 + 250
First Nickel FNI 9584 0.05 0.02 0.04 + 60
Nuinsco Res NWI 3299 0.03 0.02 0.03 + 50
Formation Mtls FCO 495 0.13 0.1 0.13 + 44.4
U3O8 Corp UWE 1650 0.17 0.1 0.17 + 43.4
Perseus Mng PRU 6746 0.39 0.32 0.39 + 36.8
Golden Queen GQM 307 1.34 0.99 1.34 + 36.7
Lydian Intl LYD 731 1.09 0.84 1.09 + 36.2
Elgin Mng ELG 2436 0.24 0.17 0.24 + 34.2
Guyana Gldflds GUY 1743 2.65 2 2.65 + 33.8
QMX Gold QMX 3902 0.03 0.01 0.02 - 40
Mediterrn Res MNR 48 0.03 0.03 0.03 - 37.5
Inspiration Mg ISM 203 0.1 0.07 0.07 - 30
Candente Gold CDG 362 0.09 0.08 0.08 - 25
Stockport Expl SPT 168 0.06 0.05 0.05 - 18.1
Western Potash WPX 794 0.38 0.28 0.33 - 15.5
Horizns G Bear HGD 1772 19.37 16.52 16.61 - 14.2
Goldgroup Mng GGA 781 0.2 0.16 0.18 - 14.2
Alamos Gold AGI 5885 13.86 11.02 11.15 - 13.8
Forbes & Man C FMC 557 0.15 0.12 0.13 - 13.7

TSX greatest value change


Company Symbol Change Close Change
Franco-Nevada FNV 1825868 49.36 + 4.05
Agnico-Eagle AEM 4890714 32.21 + 3.13
Royal Gold RGL 53415 58.7 + 2.81
Teck Res B TCKB 13136849 28.66 + 2.52
Labdr I-Ore Ro LIF 589340 33.68 + 1.85
First Quantum FM 8469023 20.21 + 1.7
Silver Wheaton SLW 4802216 24.49 + 1.52
Imperial Metal III 181759 16.5 + 1.39
Osisko Mng OSK 89428003 6.47 + 1.31
Tahoe Res THO 1608062 19.41 + 1.26
Horizns G Bear HGD 1771971 16.61 - 2.76
Alamos Gold AGI 5884827 11.15 - 1.79
Russell Metals RUS 486842 30.17 - 0.84
Polaris Minls PLS 293100 2.4 - 0.22
North Am En Pa NOA 17303 6.08 - 0.18
Lucara Diam LUC 1431357 1.58 - 0.18
MBAC Fertilizr MBC 911850 1.49 - 0.09
Sprott Res SCP 367750 2.58 - 0.08
Karnalyte Res KRN 291951 1.58 - 0.07
Excellon Res EXN 234492 1.18 - 0.06


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Related Press Releases
Teranga Gold Provides Details for Third Quarter 2014 Release of Financial and Operating Results
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Lundin Mining to Release Third Quarter 2014 Results Wednesday, October 29, 2014
 



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