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TABLE OF CONTENTS Apr 21 - 27, 2014 Volume 100 Number 10 - 0 comments

TSX dips, April 7-11

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2014-04-16

The S&P/TSX Composite Index fell 135.41 points during the trading week to close at 14,257.69. The S&P/TSX Capped Diversified Metals & Mining Index jumped 12.55 points to 814.81. The S&P/TSX Global Gold Index slipped 1.07 points to 184.19, despite the spot gold price advancing US$16.10 per oz. to US$1,318.40. 

Thompson Creek Metals was one of the week’s top percentage gainers, up 19.5% to $3.12. On April 9, the company reported its first-quarter production results. It churned out 28.2 dry tonnes, containing 14.2 million lb. copper and 39,200 oz. gold from its Mt. Milligan copper–gold mine in B.C. Its other two molybdenum mines, Endako in B.C. and Thompson Creek in Idaho, generated 7.9 million lb. moly during the quarter. Sales totalled 10.8 million lb. copper, 23,900 oz. gold and 8.6 million lb. moly.

Royal Gold, a precious metals royalty and stream company, dominated the value-added chart, moving up $2.37 per share to $72.67. The Denver-based firm also has a right to buy 52% of the gold produced from Thompson Creek’s Mt. Milligan for the lesser of US$435 per oz., or the prevailing gold price. It received 4,780 oz. gold in the first quarter from the Mt. Milligan mine, and expects to receive another 13,000 oz. from shipments that occurred in the first quarter.

North American Palladium, which operates the Lac des Îles palladium mine near Thunder Bay, Ont., was the biggest percentage loser, down 38.6% to 33¢. The firm reported that it closed the second tranche of its previously announced public offering of 7.5% convertible unsecured subordinated debentures and warrants, raising $30 million in gross proceeds. The funds will help cover expenses at the Lac des Îles mine, including exploration, as well as for generate corporate purposes. The mine produced 42,500 payable oz. palladium during the three months ended March 31, 2014. 

Montreal-based Osisko Mining was the most actively traded stock, with 66.4 million shares traded after Goldcorp, the second-largest gold miner by market value, bumped up its hostile takeover offer for the junior by $1 billion to $3.6 billion, beating Yamana Gold’s $3.4-billion bid. Goldcorp is offering its smaller rival 0.17 of its share and $2.92 in cash for each share held. The offer expires April 22 and requires 50.1% of Osisko shareholders to approve the deal. 

Earlier in the week, Osisko reported record first-quarter gold production of 140,029 oz. from the Canadian Malartic mine in Quebec, its sole producing asset that has attracted the acquisitive eye of senior producers. The firm milled 4.3 million tonnes grading 1.13 grams gold per tonne during the quarter. 

Osisko closed the week up 16¢ at $7.54, while Goldcorp lost 91¢ to $26.45, on 13.8 million shares traded.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Osisko Mng OSK 66403 7.77 7.21 7.54 + 0.16
B2Gold BTO 18870 3.26 3.01 3.02 - 0.07
Yamana Gold YRI 18087 9.86 9.34 9.37 - 0.13
North Am Pall PDL 17933 0.5 0.33 0.33 - 0.21
Lundin Mng LUN 14910 5.47 5.08 5.3 + 0.16
Goldcorp G 13848 28.1 26.35 26.45 - 0.91
Kinross Gold K 13662 4.78 4.54 4.58 - 0.15
Barrick Gold ABX 13374 20.97 19.99 20.45 + 0.15
Eldorado Gold ELD 10473 6.66 6.4 6.46 - 0.09
Carpathian Gld CPN 9688 0.04 0.03 0.04 + 0.01

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Niocan Inc NIO 34 0.15 0.15 0.15 + 30.4
Powertech Uran PWE 2437 0.09 0.07 0.09 + 28.5
EMC Metals EMC 1782 0.03 0.03 0.03 + 20
Thompson Creek TCM 3230 3.46 2.49 3.12 + 19.5
Harte Gold HRT 1709 0.07 0.05 0.07 + 18.1
Carpathian Gld CPN 9688 0.04 0.03 0.04 + 16.6
Ram Power RPG 2887 0.08 0.07 0.08 + 15.3
Inspiration Mg ISM 178 0.14 0.11 0.12 + 14.2
Strateco Res RSC 8915 0.13 0.07 0.08 + 14.2
Freegold Vent FVL 168 0.25 0.2 0.23 + 12.5
North Am Pall PDL 17933 0.5 0.33 0.33 - 38.6
Red Cresc Res RCB 46 0.01 0.01 0.01 - 33.3
Redzone Res REZ 316 0.03 0.03 0.03 - 25
Mawson Res MAW 728 0.42 0.35 0.35 - 23.9
Candente Gold CDG 196 0.06 0.05 0.05 - 23
Chieftain Mtls CFB 297 0.32 0.27 0.27 - 20.5
Moly Mines MOL 5921 0.1 0.07 0.08 - 20
Xinergy XRG 143 0.67 0.52 0.53 - 18.4
Erdene Res Dev ERD 120 0.18 0.14 0.15 - 16.6
Stockport Expl SPT 77 0.06 0.05 0.05 - 16.6

TSX greatest value change


Company Symbol Change Close Change
Royal Gold RGL 34076 72.67 + 2.37
North Am En Pa NOA 648073 8.61 + 0.61
Tahoe Res THO 771256 23.84 + 0.53
Thompson Creek TCM 3229597 3.12 + 0.51
First Quantum FM 7179654 20.15 + 0.48
Seabridge Gold SEA 163952 8.26 + 0.36
Teck Res B TCKB 9453046 24.64 + 0.2
NGEx Res NGQ 428059 1.91 + 0.17
Osisko Mng OSK 66403437 7.54 + 0.16
Sherritt Intl S 7030148 4.3 + 0.16
Agrium AGU 1437733 100.62 - 2.84
Cameco Corp CCO 6096753 25.22 - 1.66
Goldcorp G 13847566 26.45 - 0.91
Walter Energy WLT 113325 8.09 - 0.91
Energy Fuels EFR 258896 9.3 - 0.83
Potash Cp Sask POT 6720443 36.63 - 0.81
Franco-Nevada FNV 1816778 50.86 - 0.74
Primero Mng P 2624520 7.34 - 0.55
Silver Wheaton SLW 6181373 24.49 - 0.52
Alamos Gold AGI 1714175 10.12 - 0.39

 

 

 



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