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TABLE OF CONTENTS Dec 16 - 22, 2013 Volume 99 Number 44 - 0 comments

Toronto Stock Exchange, Dec. 2-6

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2013-12-11

The S&P/TSX Composite Index fell 113 points to 13,280.72 for the period, despite positive news from Canada’s neighbour to the south.

The U.S. Labor Department reported 203,000 jobs were added in November, beating expectations. The news had investors worried the Federal Reserve could taper its monthly bond purchases sooner, which would be bad for gold.

As such the gold price fell US$21 to US$1,229 per oz., and the S&P/TSX Global Gold Index shed 9 points to finish at 150.96.

The diversified miners represented in the S&P/TSX Capped Diversified Metals & Mining Index didn’t fare much better, as the Index was down 19 points to 728.55, despite the copper price being up 5¢, to finish at US$3.25 per lb. 

Verde Potash told the market it had no idea why its stock was up 57% over the period, but the announcement only fuelled another round of buying, as its shares gained another 65% since the announcement and traded for 62¢ at press time. The company is planning to build a potash mine in Brazil.

Shares in Vancouver-based South American Silver also got a lift. This time the reason seems to be the return of founder Ralph Fitch to the helm. Fitch has been reappointed president and CEO, replacing Phillip Brodie-Hall — who served as interim president and CEO since August of last year. Brodie-Hall came in at a tough time, arriving after the company had its main mining operation, Malku Khota, nationalized in Bolivia. South American Silver shares were up 48% to $1.18 for the period.

A takeover offer from Australian-based Mamba Minerals lifted Champion Iron Mines’ market fortunes. The deal values Champion at 39¢ per share, or $59.8 million on a fully diluted basis, and represents a 72% premium to Champion’s 20-day, volume-weighted average price. Mamba will be getting the Fire Lake North project in the Labrador Trough, and the deal will leave Champion shareholders with 50.5% of Mamba on a fully diluted basis. The combined entity is to be called Champion Iron Ltd., with $25 million in cash to play with. The transaction is expected to close next April. Champion shares were up 33% to 29¢ for the period.

The news wasn’t so good for Colossus Minerals, which is again delaying production start-up at its Serra Pelada gold–platinum–palladium project in Brazil. Complications with dewatering caused the first delay in mid-November, pushing back its first-production date from late 2013 to the second quarter of 2014. Now the revised date is in jeopardy, as it has stopped underground development to de-risk the project. The company couldn’t raise the funds to close a US$70-million funding shortfall. Colossus shares were down 45% to 17¢.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Baja Mng BAJ 60525 0.02 0.01 0.01 - 0.01
Colossus Minls CSI 16870 0.32 0.12 0.17 - 0.14
B2Gold BTO 16689 2.17 1.98 2.13 - 0.09
Barrick Gold ABX 16335 17.52 16.33 16.38 - 1.23
Perseus Mng PRU 15511 0.27 0.22 0.22 - 0.06
Goldcorp G 15078 23.5 22.14 22.44 - 1.21
Kinross Gold K 13953 5.04 4.78 4.83 - 0.16
Detour Gold DGC 11327 4.2 3.55 3.58 - 0.55
Potash Cp Sask POT 11323 34.44 33.36 33.58 + 0.3
Osisko Mng OSK 10657 4.24 3.82 4.01 - 0.32

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Verde Potash NPK 1583 0.46 0.19 0.38 + 63
Xinergy XRG 770 0.46 0.2 0.37 + 60.8
South Am Silvr SAC 5325 1.38 0.71 1.18 + 47.5
Champion Iron CHM 3387 0.38 0.2 0.29 + 32.5
U3O8 Corp UWE 317 0.13 0.1 0.13 + 30
Gabriel Res GBU 1875 1.11 0.87 1.11 + 27.5
TVI Pacific TVI 684 0.03 0.02 0.03 + 25
Evolving Gold EVG 253 0.03 0.03 0.03 + 20
Peregrine Diam PGD 2929 0.75 0.4 0.48 + 20
Renaissance Gd REN 24 0.22 0.19 0.22 + 18.9
Baja Mng BAJ 60525 0.02 0.01 0.01 - 66.6
Colossus Minls CSI 16870 0.32 0.12 0.17 - 45
Chieftain Mtls CFB 609 0.17 0.11 0.11 - 38.2
Azumah Res AZR 32 0.04 0.03 0.03 - 37.5
Cerro Grande M CEG 30 0.03 0.02 0.02 - 33.3
Stockport Expl SPT 212 0.04 0.03 0.04 - 27.2
Liberty Silver LSL 271 0.04 0.03 0.03 - 25
Aura Mnls ORA 2085 0.12 0.09 0.09 - 25
Western Potash WPX 1051 0.35 0.27 0.27 - 22.8
Dundee Prec Mt DPM 3108 3.2 2.51 2.51 - 21.5

TSX greatest value change


Company Symbol Change Close Change
Horizns G Bear HGD 2833047 23.86 + 2.96
Walter Energy WLT 37882 16.14 + 0.94
Agrium AGU 2367777 96.39 + 0.78
Mountain Prov MPV 390199 5.65 + 0.53
South Am Silvr SAC 5324607 1.18 + 0.38
Potash Cp Sask POT 11322766 33.58 + 0.3
Imperial Metal III 195150 14.5 + 0.25
Gabriel Res GBU 1874919 1.11 + 0.24
Centerra Gold CG 4100230 3.42 + 0.24
Cameco Corp CCO 4291644 21.75 + 0.21
Franco-Nevada FNV 3365192 39.83 - 2.72
Agnico-Eagle AEM 6143867 27.07 - 1.9
Tahoe Res THO 1279255 17.23 - 1.53
Newmont Mng NMC 16629 24.5 - 1.36
Alamos Gold AGI 3324437 12.27 - 1.34
Barrick Gold ABX 16334831 16.38 - 1.23
Goldcorp G 15077868 22.44 - 1.21
Royal Gold RGL 15545 47 - 1.16
Silver Wheaton SLW 7441270 21.12 - 1.06
Central Gold-T GTU_U 18889 45 - 1


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