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TABLE OF CONTENTS Oct 28 - Nov 3, 2013 Volume 99 Number 37 - 0 comments

Toronto Stock Exchange, Oct. 15-18

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2013-10-23

The S&P/TSX Composite Index was up 233 points to 13,136.09 for the holiday shortened period. But the gains paled in comparison to the momentum south of the border after a debt deal was reached. The performance gap between the S&P/TSX Composite and the U.S. S&P 500 Index has some experts optimistic for the Canadian index. CIBC analyst Benjamin Tal noted that the TSX is up only 6% this year compared to the 22% gain made by the U.S. index. Tal notes that whenever the TSX has lagged the S&P 500 by a wide margin, it has always rebounded by an average of no less than 16% in the following year.

The S&P/TSX Global Gold Index was up 9 points to 170.38, as the gold price was up US$41 per oz. to US$1314.60 per oz. Helping the metal was the view that quantitative easing would taper later than expected.

The S&P/TSX Capped Diversified Metals & Mining Index was up 27 points to 798.41 points, as the price of copper was flat at US$3.30 per lb.

New Dawn Mining was the week’s biggest gainer by percentage, with shares climbing 75% to 14¢ after its indigenization plan in Zimbabwe was approved. Indigenization was set-up by President Robert Mugabe, and in this case it calls for four indigenous investor groups to acquire an interest in New Dawn. The company will also transfer 15% of its equity to an employee-ownership scheme and a community trust. Indigenous investors will end up with 42% of the company. New Dawn shares fell 50% last month when it said it was considering a share-consolidation plan.

Brigus Gold shares were up 22% to 67¢ for the period after the company said drill testing extended the mineralization depth at its Black Fox mine to 700 metres from 300 metres. The hole returned a highlight intercept of 40.71 grams gold per tonne over 26.8 metres. That’s big news, as it indicates the deposit may go down below the 1,000-metre mark, as many other mines in the Timmins mining camp do. The deposit remains open along strike and at depth.

On the other side of things, Revett Minerals was down 40.7% to 70¢. The fall came as the company said it would have to build a new decline at its Troy mine in northwestern Montana. Revett said that dewatering and inspection of the Lower Quartzite haulage route showed it was structurally unstable and couldn’t be developed. Its underground crusher, conveyor system and surface mill will stay on a care and maintenance until production resumes. Revett said the Lower Quartzite haulage route would still be used as an access point for mine dewatering and ventilation. As for when mining will resume, the company said it could take a year to access the North C Bed area. It plans to build the $12-million decline once it obtains approval.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Eastern Platin ELR 20764 0.07 0.06 0.06   0
Energy Fuels EFR 16775 0.15 0.11 0.15 + 0.01
Eldorado Gold ELD 12626 6.53 5.84 6.27 + 0.27
Barrick Gold ABX 11117 19.39 17.75 19.07 + 1.26
Goldcorp G 10828 25.69 24.07 25.05 + 0.62
B2Gold BTO 10702 2.49 2.22 2.43 + 0.14
Orbite Alumnae ORT 8554 0.66 0.49 0.54 + 0.01
Yamana Gold YRI 8436 9.99 9.33 9.65 + 0.14
Carpathian Gld CPN 8221 0.08 0.05 0.06 - 0.02
Osisko Mng OSK 8220 5.39 4.87 5.22 + 0.23

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
New Dawn Mng ND 102 0.16 0.1 0.14 + 75
Strateco Res RSC 1653 0.16 0.07 0.11 + 75
Red Cresc Res RCB 296 0.04 0.03 0.04 + 40
Rockex Mng RXM 908 0.05 0.03 0.05 + 28.5
Harte Gold HRT 514 0.09 0.07 0.09 + 28.5
Silver Bear Rs SBR 10 0.15 0.15 0.15 + 25
TVI Pacific TVI 3189 0.03 0.02 0.03 + 25
Brigus Gold BRD 3430 0.68 0.54 0.67 + 21.8
Gabriel Res GBU 1826 0.99 0.78 0.93 + 20.7
Lexam VG Gold LEX 88 0.13 0.11 0.12 + 20
Revett Mnls RVM 295 1.3 0.62 0.62 - 49.5
Cerro Grande M CEG 178 0.05 0.03 0.03 - 40
Thundermin Res THR 203 0.04 0.03 0.03 - 25
First Point FPX 346 0.24 0.17 0.18 - 23.4
Northcliff Res NCF 458 0.34 0.25 0.26 - 22.3
Laramide Res LAM 955 0.5 0.38 0.39 - 22.2
Freegold Vent FVL 182 0.34 0.25 0.31 - 20.5
Zincore Mtls ZNC 76 0.19 0.15 0.18 - 20.4
Colossus Minls CSI 6509 0.71 0.52 0.55 - 20.2
Marengo Mng MRN 592 0.03 0.02 0.02 - 20

TSX greatest value change


Company Symbol Change Close Change
Royal Gold RGL 31810 50.93 + 3.26
Agrium AGU 1355791 89.29 + 3.17
Franco-Nevada FNV 2079291 44.14 + 1.79
Russell Metals RUS 658470 27.88 + 1.65
Barrick Gold ABX 11116675 19.07 + 1.26
Coeur Mng CDM 45052 12.68 + 1.23
Teck Res B TCKB 5665304 28.26 + 1.1
Dominion Diam DDC 401783 13.92 + 1.06
Tahoe Res THO 715074 18.6 + 0.98
Silver Wheaton SLW 4758156 23.73 + 0.83
Horizns G Bear HGD 2343695 19.99 - 2.21
Revett Mnls RVM 294860 0.62 - 0.61
Pretium Res PVG 2129486 4.68 - 0.25
Dundee Prec Mt DPM 2022861 4.54 - 0.23
Argonaut Gold AR 3420222 5.37 - 0.23
Rare Elemnt Rs RES 104710 2.15 - 0.2
MBAC Fertilizr MBC 641486 2.05 - 0.18
Platinum Gp Mt PTM 1444264 1.05 - 0.18
Alacer Gold ASR 3096121 2.79 - 0.15
Liberty Mines LBE 12260 0.66 - 0.14


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Related News
Toronto Stock Exchange, Dec. 16-20
U.S. markets, Dec. 16-20
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Related Press Releases
Revett Announces US $5 Million Loan Agreement
Revett Reports Q2 2014 Financial Results and provides Troy Mine Development Update
Primero and Brigus announce shareholders vote in favour of acquisition of Brigus
 



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