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TABLE OF CONTENTS Jan 6 - 12, 2014 Volume 99 Number 47 - 0 comments

Toronto Stock Exchange, Dec. 16-20

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2014-01-01

The S&P/TSX Composite Index jumped 273.90 points, or 2%, to 13,399.60 during the  trading week after the U.S. Federal Reserve said it would trim its monthly bond-buying program by US$10 billion to US$75 billion, starting in January. The S&P/TSX Capped Diversified Metals & Mining Index advanced 36.88 points, or 5%, to 751.89. However, the proposed stimulus cut didn’t help the gold price. The yellow metal tumbled US$35.20 per oz. to US$1,203.50 per oz. This pushed the S&P/TSX Global Gold Index down 3 points, or 2%, to 151.36.

Brigus Gold was the week’s most traded stock after Mexico-focused Primero Mining tabled a friendly $220-million bid for the junior that operates the Black Fox gold mine near Timmins, Ont.  Brigus’ investors would receive 0.175 of a Primero share for each share held, and a 0.1 share of a new spinout company that would hold Brigus’ Goldfields project in Saskatchewan and the Ixhuatan and Huizopa assets in Mexico. The deal values Brigus’ shares at 91¢, a 45% premium to its Dec. 13 closing price. The transaction should close in February. Brigus jumped 18¢ to 81¢ on 29.3 million shares traded, while Primero lost 60¢ to finish at $4.62.

On Dec. 17, Asanko Gold said it intends to buy PMI Gold by late January, causing heavy trading in shares of PMI. Asanko estimates it could save US$100 million in costs by co-developing its Esasse gold project with PMI’s neighbouring Obotan gold deposit, both in Ghana.

Asanko is offering 0.21 of its share for each PMI share. The proposal values PMI at $183 million, or 44¢ a share. Asanko made a similar move for PMI in 2012, which failed. However, analysts believe this time the business combination should succeed. The combined company would have US$280 million in cash and a US$150-million debt facility. PMI climbed 7¢ to end the week at 34¢, on 25.3 million shares traded.

Agnico Eagle Mines was one of the biggest value losers, dropping 97¢ per share to $26.92. The gold producer announced a $9.3-million investment in Panama-focused junior explorer Pershimco Resources, where it would buy 19.8 million units of the company in a private placement for 47¢ apiece. Each unit consists of a share and a warrant. Each warrant allows the holder to buy a share at 54¢ within two years of the transaction closing.

The deal should wrap up around Jan. 10, 2014, after which Agnico will hold a 9.9% stake in Pershimco. The junior’s existing shareholder Sentient Group has agreed to subscribe to another 4 million units to maintain its 16.9% interest in Pershimco.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Brigus Gold BRD 29374 0.87 0.8 0.81 + 0.18
Sirocco Mng SIM 26281 0.4 0.35 0.37 - 0.01
PMI Gold PMV 25335 0.41 0.28 0.34 + 0.07
Colossus Minls CSI 24082 0.18 0.11 0.11 - 0.06
TriAusMin TOR 24036 0.04 0.02 0.03   0
Barrick Gold ABX 20157 18.5 17.58 17.84 + 0.08
Dundee Prec Mt DPM 18778 3.09 2.51 2.74 + 0.08
Kinross Gold K 17742 4.97 4.52 4.69 - 0.19
B2Gold BTO 17741 2.3 2.06 2.12 - 0.11
Osisko Mng OSK 17677 4.83 4.37 4.48 + 0.04

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Inspiration Mg ISM 145 0.1 0.05 0.08 + 100
Oracle Mng OMN 232 0.3 0.18 0.3 + 68.5
Northern Dyn M NDM 336 1.78 1.23 1.78 + 47.1
Marathon Gold MOZ 1002 0.22 0.17 0.22 + 41.9
CaNickel Mng CML 25 0.14 0.1 0.14 + 40
Wallbridge Mng WM 1283 0.07 0.05 0.07 + 40
Golden Queen GQM 656 0.99 0.66 0.87 + 38.1
Erdene Res Dev ERD 244 0.14 0.1 0.14 + 35
Pac NW Cap PFN 124 0.02 0.02 0.02 + 33.3
Stockport Expl SPT 150 0.07 0.04 0.04 + 33.3
South Am Silvr SAC 3398 1.19 0.5 0.5 - 58.3
Redzone Res REZ 16 0.05 0.04 0.04 - 56.2
QMX Gold QMX 653 0.03 0.02 0.02 - 40
Gabriel Res GBU 16764 1.29 0.76 0.76 - 35.5
Colossus Minls CSI 24082 0.18 0.11 0.11 - 35.2
Jaguar Mng JAG 2217 0.08 0.05 0.06 - 26.6
Hard Creek Ni HNC 140 0.04 0.03 0.03 - 25
First Nickel FNI 936 0.02 0.02 0.02 - 25
Banro BAA 3228 0.6 0.44 0.44 - 21.4
Endeavour Mng EDV 11691 0.59 0.44 0.44 - 21.4

TSX greatest value change


Company Symbol Change Close Change
Teck Res B TCKB 10519188 26.31 + 1.9
Russell Metals RUS 1354735 29.86 + 1.62
Agrium AGU 2448249 96.05 + 1.21
Potash Cp Sask POT 10293710 33.77 + 1.11
First Quantum FM 7318976 18.01 + 1.01
Horizns G Bear HGD 2063114 23.7 + 0.95
Franco-Nevada FNV 2406655 42.8 + 0.78
Virginia Mines VGQ 48863 11.67 + 0.7
Northern Dyn M NDM 335989 1.78 + 0.57
Walter Energy WLT 45317 15.76 + 0.46
Royal Gold RGL 38349 46.26 - 1.79
Agnico-Eagle AEM 5797497 26.92 - 0.97
Newmont Mng NMC 61009 24.07 - 0.75
Pretium Res PVG 2809971 5.28 - 0.71
South Am Silvr SAC 3398034 0.5 - 0.7
Tahoe Res THO 1162940 16.8 - 0.68
Alamos Gold AGI 1919356 12.12 - 0.65
Primero Mng P 5790262 4.62 - 0.6
Coeur Mng CDM 67637 10.45 - 0.6
Silver Wheaton SLW 7529383 20.98 - 0.58


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