FREE ARTICLE PREVIEW: You are enjoying a free sample of exclusive
subscriber content. There is a limit of three free articles per week.

TABLE OF CONTENTS Jan 20 - 26, 2014 Volume 99 Number 49 - 0 comments

Toronto Stock Exchange, Jan. 6-10

TEXT SIZE bigger text smaller text
2014-01-15

Canada’s benchmark index gained during the week, as prices of gold and other commodities rose following poor North American jobs data.

The S&P/TSX Composite Index ended up 198.66 points at 13,747.52. The spot price for gold rose US$10.60 to $1,248.60, pushing up the gold miners. The S&P/TSX Global Gold Index added 5.14 points to end at 166.69. The S&P/TSX Capped Diversified Metals & Mining Index stayed relatively flat at 779.75.

Statistics Canada reported Canada shed 45,900 jobs in December, well below the expected gain of 14,000. The unemployment rate climbed to 7.2% from 6.9% in November.

Meanwhile the Labor Department said the U.S. created 74,000 jobs last month, falling short of the predicted 200,000. But the jobless rate fell from 7% to 6.7%, the lowest level since October 2008, as more Americans simply stopped looking for jobs.

Macarthur Minerals led the week’s percentage gainers, jumping 93% to 29¢ after updating investors on its Ularring hematite project in Western Australia’s Yilgarn iron-ore district. Australia-based Macarthur reported that the Esperance Port Authority received two development proposals for a multi-user iron ore facility. Obtaining a developer this year will allow the company to move forward on project financing, partner contracting and off-take agreements.

Goldgroup Mining tacked on 33% to end at 18¢, after announcing on Jan. 9 that it started production on its Cerro Prieto heap-leach gold mine in Sonora, Mexico. The mine generated 285 oz. gold in December. However, the Vancouver-based firm warned it was not basing its production decision on a preliminary economic assessment or feasibility study, noting this increases the “multiple technical and economic risks of failure.” 

On the flip side, United Silver lost 50% to close at 2¢ after trading in its shares was halted on Jan. 10 pending a delisting. The delisting review was announced on Jan. 7, but expedited a day after United Silver reported a court-appointed receiver and manager for its assets and company.

Similarly Brazil-focused Colossus Minerals dropped 38% to end the week at 4¢, after the TSX reduced its delisting review from 120 days starting Dec. 20, 2013, to 30 days beginning Jan. 8, 2014.

On Jan. 14 the cash-strapped company said it would file for protection under the Bankruptcy and Insolvency Act. It wasn’t able to make a Dec. 31 interest payment on its convertible gold-linked notes before the end of Jan. 10.

Following the bankruptcy news, the TSX expedited its review process and suspended trading in Colossus’ securities.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
B2Gold BTO 32304 2.42 2.2 2.3 - 0.01
Colossus Minls CSI 22736 0.08 0.03 0.04 - 0.03
Lundin Mng LUN 15471 4.8 4.57 4.69 + 0.05
Barrick Gold ABX 14830 20.08 19.17 19.82 + 0.51
Goldcorp G 14689 25.59 23.51 25.29 + 1.58
Yamana Gold YRI 13756 10.02 9.39 9.92 + 0.51
Baja Mng BAJ 13304 0.02 0.01 0.01 + 0
Potash Cp Sask POT 12910 36.75 34.67 36.34 + 1.6
Osisko Mng OSK 12824 5.25 4.85 5.17 + 0.24
Kinross Gold K 12605 4.96 4.8 4.91 + 0.1

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Macarthur Mnl MMS 976 0.35 0.15 0.29 + 93.3
Verde Potash NPK 526 0.83 0.45 0.82 + 86.3
Silver Predatr SPD 1015 0.07 0.04 0.07 + 75
Contl Precious CZQ 107 0.15 0.1 0.15 + 52.6
Nuinsco Res NWI 268 0.02 0.02 0.02 + 33.3
Evolving Gold EVG 455 0.04 0.04 0.04 + 33.3
Goldgroup Mng GGA 855 0.21 0.14 0.18 + 33.3
PC Gold PKL 280 0.04 0.03 0.04 + 33.3
Polaris Minls PLS 1031 2.5 1.9 2.5 + 32.9
Dejour Enterp DEJ 371 0.21 0.14 0.17 + 30.7
United Silver USC 579 0.03 0.02 0.02 - 50
Colossus Minls CSI 22736 0.08 0.03 0.04 - 38.4
CaNickel Mng CML 12 0.16 0.13 0.14 - 33.3
Chieftain Mtls CFB 360 0.23 0.16 0.17 - 22.7
Geologix  Ex GIX 1006 0.09 0.07 0.07 - 22.2
Hard Creek Ni HNC 68 0.06 0.04 0.05 - 16.6
South Am Silvr SAC 676 0.3 0.23 0.25 - 16.6
Freegold Vent FVL 673 0.25 0.19 0.21 - 16
MagIndustries MAA 463 0.21 0.19 0.19 - 15.5
Aureus Mng AUE 70 0.56 0.51 0.51 - 15

TSX greatest value change


Company Symbol Change Close Change
Agrium AGU 2375087 99.8 + 3.27
Royal Gold RGL 32962 55.42 + 3.21
Franco-Nevada FNV 1983838 45.9 + 1.78
Potash Cp Sask POT 12909851 36.34 + 1.6
Goldcorp G 14689390 25.29 + 1.58
Agnico-Eagle AEM 4916476 29.68 + 0.87
Silver Wheaton SLW 5996415 23.26 + 0.79
First Majestic FR 2933219 11.51 + 0.77
Cameco Corp CCO 5013581 22.09 + 0.7
Polaris Minls PLS 1030611 2.5 + 0.62
Walter Energy WLT 69052 15.03 - 1.98
Horizns G Bear HGD 1970393 19.08 - 1.28
Labdr I-Ore Ro LIF 557993 32.54 - 1.16
Teck Res B TCKB 7900267 25.91 - 0.98
Imperial Metal III 303484 15.1 - 0.67
First Quantum FM 9177068 18.55 - 0.56
Contintl Gold CNL 3393520 3.03 - 0.41
Kirkland Lk Gd KGI 2193659 2.65 - 0.35
Russell Metals RUS 608364 30.7 - 0.25
Orbit Garant D OGD 33909 1.2 - 0.2

 



© 1915 - 2014 The Northern Miner. All Rights Reserved.

Related News
[Update] Colossus proposes costly debt-equity deal to stay alive, then Arias cancels deal
Colossus ceases underground development at Serra Pelada
TSX Venture Exchange, Dec. 2-6
Related Press Releases
Goldgroup Announces the Results of its 2014 Annual and Special Meeting of Shareholders
Macarthur Minerals announces AUD$2.24 million private placement financing
Goldgroup Refutes Groundless Claim by Sonoran Resources
 



Horizontal ruler
Horizontal Ruler

Post A Comment

Disclaimer
Note: By submitting your comments you acknowledge that Northern Miner has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that due to the volume of e-mails we receive, not all comments will be published and those that are published will not be edited. However, all will be carefully read, considered and appreciated.

Your Name (this will appear with your post) *

Email Address (will not be published) *

Comments *



* mandatory fields