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TABLE OF CONTENTS Aug 4 - 10, 2014 Volume 100 Number 25 - 0 comments

TSX climbs, July 21-25

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2014-07-30

The S&P/TSX Composite Index gained 188.47 points to close the trading week at 15,455.04. The S&P/TSX Capped Diversified Metals & Mining Index advanced 32.39 points to 924.02, while the S&P/TSX Global Gold Index stayed relatively flat at 200.79 points. The spot price for gold fell US$2.60 per oz. to US$1,308.30.

Romarco Minerals was one of the week’s most actively traded stocks after a permitting milestone at its Haile gold project in South Carolina. On July 24, the U.S. Army Corps of Engineers released its environmental impact statement for the project. This sent Romarco shares up 8¢ to 91¢ on 21.5 million shares traded.

On July 28, Romarco noted that the Corps would issue its record of decision on the Clean Water Act Section 404 wetlands permit application in November 2014. The 404 permit is the only federal environmental permit that the project needs.

“The November timing falls within our planned schedule for funding and preparing for construction activities at the Haile gold mine,” company CEO Diane Garrett said.

Shares of Marathon Gold rose 30% to 52¢ after the company discovered new gold mineralized trends at the Sprite and Rainbow zones on its Valentine Lake property in central Newfoundland. Marathon found the trends through trenching and bedrock sampling and says 70% of the combined 2 km long trend has never been drilled.

Petaquilla Minerals jumped 28.5% to 9¢ after closing its commercial agreement with a subsidiary of First Quantum Minerals. The agreement, dated May 23, 2013, and executed about a year later, ensures the complete separation of the Petaquilla’s Molejon gold mine in Panama from First Quantum’s nearby Cobre Panama’s copper project.

Upon closing Petaquilla received US$50 million, and should rake in another US$10 million from the agreement in the near future. First Quantum added $1.37 to end at $26.19.

London-based Serabi Gold had a good run. It climbed nearly 24% to 11¢ after reporting that its Palito gold mine in Brazil reached commercial production on July 1. The mine produced 3,242 gold oz. in the second quarter and 5,542 oz. for the year to date.

On the flipside, Pretium Resources plunged 15% to $7.55 after the Vancouver-based firm entered into an underwriting agreement with a syndicate of underwriters, led by Scotia Capital. The underwriters have agreed to buy 8.3 million Pretium shares at US$7.25 apiece from the junior and its largest shareholder Silver Standard Resources.

Under the offering, Pretium will issue 6.8 million shares for gross proceeds of US$49.5 million, and Silver Standard, which holds 18% of Pretium, will sell 1.5 million shares for gross proceeds of US$10.5 million. The underwriters also have an over-allotment option to buy 1.2 million shares at the same price.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
B2Gold BTO 21978 3.01 2.76 3.01 + 0.07
Romarco Mnrls R 21509 0.95 0.85 0.91 + 0.08
Mercator Mnls ML 16136 0.05 0.04 0.05 - 0.01
Teck Res B TCKB 11523 26.87 25.03 25.36 + 0.13
Lundin Mng LUN 9605 6.38 5.99 6.3 + 0.21
Torex Gold TXG 9559 1.64 1.5 1.53 - 0.07
Yamana Gold YRI 9410 9.01 8.6 8.99 + 0.08
Barrick Gold ABX 9170 20.68 19.59 20.2 - 0.42
HudBay Minls HBM 8446 11.79 10.58 11.49 + 0.89
Trevali Mng TV 7715 1.39 1.18 1.31 + 0.13

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Liberty Silver LSL 562 0.13 0.09 0.12 + 50
TriAusMin TOR 674 0.08 0.06 0.07 + 40
Marathon Gold MOZ 690 0.56 0.4 0.52 + 30
Petaquilla Mnl PTQ 2163 0.1 0.07 0.09 + 28.5
Serabi Gold SBI 586 0.11 0.09 0.11 + 23.5
Bannerman Res BAN 72 0.08 0.08 0.08 + 23
Rio Novo Gold RN 20 0.12 0.1 0.12 + 21
Opta Minls OPM 65 2.1 1.79 2.1 + 20
Carpathian Gld CPN 2971 0.04 0.03 0.04 + 16.6
Stonegate Agri ST 854 0.19 0.16 0.19 + 15.6
Loncor Res LN 25 0.1 0.09 0.09 - 43.3
CaNickel Mng CML 11 0.25 0.2 0.2 - 37.1
Horizonte Mnls HZM 76 0.12 0.1 0.11 - 26.6
New Milln Iron NML 473 0.33 0.28 0.29 - 16.1
Xtra-Gold Res XTG 129 0.27 0.24 0.24 - 15.7
Pretium Res PVG 3840 8.96 7.36 7.55 - 15.2
Victory Nickel NI 1305 0.07 0.06 0.06 - 14.2
New Pac Metals NUX 11 0.3 0.3 0.3 - 14.2
Mawson Res MAW 36 0.37 0.31 0.32 - 13.7
Black Iron BKI 1206 0.12 0.1 0.1 - 13

TSX greatest value change


Company Symbol Change Close Change
Franco-Nevada FNV 1385130 62.4 + 1.95
Agrium AGU 1331524 99.61 + 1.39
First Quantum FM 6320318 26.19 + 1.37
Royal Gold RGL 24013 84.3 + 1.3
Major Drilling MDI 1145532 8.92 + 1.11
HudBay Minls HBM 8446145 11.49 + 0.89
Altius Mnrls ALS 438915 14.7 + 0.75
Potash Cp Sask POT 6047719 39.42 + 0.69
Cameco Corp CCO 5246467 22.57 + 0.67
Goldcorp G 7613717 30.51 + 0.52
Pretium Res PVG 3840075 7.55 - 1.36
Seabridge Gold SEA 213627 8.97 - 0.72
Detour Gold DGC 4094686 13.52 - 0.47
Barrick Gold ABX 9169935 20.2 - 0.42
Pan Am Silver PAA 765967 16.23 - 0.28
Kirkland Lk Gd KGI 2295553 3.65 - 0.27
North Am En Pa NOA 224567 7.8 - 0.26
Allied Nevada ANV 783993 3.48 - 0.21
Alamos Gold AGI 1228023 10.1 - 0.19
Contintl Gold CNL 2026298 3.97 - 0.18


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Related News
Juniors optimistic at the Precious Metals Summit
S&P 500 on a roll, Aug. 25-29
TSX posts small increase, Aug. 18-22
Related Press Releases
First Quantum Minerals Suspends Operations at Its Guelb Moghrein Mine
Marathon's Summer Drilling in the Sprite Zone Confirms Near Surface Gold Mineralization
More Positive Results from Marathon's Rainbow and Sprite Zones: 1.80 g/t Au over 16.0 m and 1.37 g/t Au over 15.0 m
 



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