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 Apr 28 - May 4, 2014 Volume 100 Number 11 - 0 comments

TSX nears six-year high before Easter, April 14-17

TEXT SIZE bigger text smaller text
2014-04-23

The Toronto stock market had a strong run heading into the Easter holiday, with the S&P/TSX Composite Index gaining 24 points to 14,500.39, nearing a six-year high on the back of positive Chinese and U.S. economic data.

The S&P/TSX Capped Diversified Metals & Mining Index advanced nearly 23 points to 837.72. But gold miners lost some lustre during the holiday shortened week, as the S&P/TSX Global Gold Index slumped 4 points to 180.15 and the spot price for gold plunged US$25.50 per oz. to US$1,292.90.

A recent Federal Reserve survey shows that the U.S. economy has improved in the past two months. U.S. jobless claims have also sunk to an almost seven-year low, while reports reveal better-than-expected economic growth in China during the last quarter.

Marathon Gold was the week’s top percentage gainer, soaring 83% to 42¢. The Toronto-based explorer published the final drill holes from its winter 2014 program at its Valentine Lake gold property in central Newfoundland. Most of the drilling was finished on the property’s new Sprite zone, which returned several wide, high-grade, near-surface gold hits, including 2.80 grams gold per tonne over 18.4 metres, and 5.36 grams gold over 6 metres. Both widths are true thickness.

The Sprite zone has a strike length of over 500 metres and is open in all directions. It will be the focus of the company’s upcoming mid-year drill program and could become the third open-pit resource on the property, after Valentine Lake’s Leprechaun and Victory gold deposits.

Revolution Resources had a good week, rising nearly 29% to 5¢. The firm reported that it signed an option agreement with Seabridge Gold to earn 100% of the Red Mountain gold project near Stewart, B.C. Under the agreement, Revolution will provide Seabridge 29.7 million shares and $2 million cash in staged payments. It will also invest $7.5 million in expenditures at Red Mountain over three years, but could extend the deadline by a year by paying $250,000. When Red Mountain reaches commercial production, Seabridge will collect another $1.5 million in cash and retain a gold stream on the property. Seabridge could also opt for $4 million in cash and drop the gold stream.

Revolution also intends to complete a 6-for-1 share consolidation and rename ­itself IDM Mining. It has lined up a concurrent $5-million private placement with Haywood Securities.

Vancouver-based miner Imperial Metals topped the value-added chart, gaining $1.02 to end at $14.62. On April 5 the company announced it had restarted the mill at its Huckleberry copper mine in B.C. The mill shut down on Feb. 26, after a semi-autogenous grinding mill failure from a broken tooth in the bull gear.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Osisko Mng OSK 60169 8.06 7.54 8 + 0.66
Yamana Gold YRI 15224 9.54 8.74 8.76 - 0.42
B2Gold BTO 9078 3.15 2.96 3.01 + 0.06
Goldcorp G 8294 26.97 25.98 26.01 + 0.14
Sherritt Intl S 7446 4.88 4.41 4.84 + 0.51
Torex Gold TXG 7258 1.19 1.05 1.15 + 0.2
Eastern Platin ELR 7178 0.08 0.07 0.08   0
Barrick Gold ABX 7147 20.86 19.75 19.81 - 0.38
Lundin Mng LUN 7017 5.49 5.2 5.25 - 0.02
Agnico-Eagle AEM 6731 35.12 30.67 31.26 - 1.61

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Marathon Gold MOZ 739 0.43 0.28 0.42 + 82.6
Rio Novo Gold RN 57 0.12 0.09 0.12 + 35.2
Revolution Res RV 545 0.05 0.04 0.05 + 28.5
Mediterrn Res MNR 54 0.03 0.03 0.03 + 25
Chalice Gold M CXN 38 0.18 0.18 0.18 + 25
Royal Nickel RNX 1739 0.75 0.59 0.71 + 24.5
Harte Gold HRT 2586 0.1 0.06 0.08 + 23
Ratel Grp RTG 450 0.11 0.1 0.11 + 22.2
Torex Gold TXG 7258 1.19 1.05 1.15 + 21
Mawson West MWE 1728 0.53 0.43 0.53 + 17.7
Evolving Gold EVG 331 0.02 0.01 0.02 - 25
Carlisle Goldf CGJ 827 0.06 0.05 0.05 - 23
Cerro Grande M CEG 147 0.04 0.03 0.03 - 16.6
EMC Metals EMC 148 0.03 0.03 0.03 - 16.6
Emed Mining EMD 1476 0.17 0.15 0.16 - 16.2
Rockwell Diam RDI 159 0.32 0.28 0.28 - 15.1
Coro Mining COP 20 0.1 0.09 0.09 - 15
Carpathian Gld CPN 2185 0.04 0.03 0.03 - 14.2
Oracle Mng OMN 101 0.22 0.15 0.15 - 14.2
Canarc Res CCM 22 0.1 0.09 0.1 - 13.6

TSX greatest value change


Company Symbol Change Close Change
Imperial Metal III 344784 14.62 + 1.02
Altius Mnrls ALS 65761 15.35 + 0.99
Franco-Nevada FNV 1088502 50.95 + 0.97
First Quantum FM 4161103 21.05 + 0.96
Agrium AGU 715491 102.56 + 0.89
Russell Metals RUS 225034 30.66 + 0.7
Osisko Mng OSK 60168610 8 + 0.66
Potash Cp Sask POT 3962236 38.45 + 0.61
Sherritt Intl S 7445791 4.84 + 0.51
Labdr I-Ore Ro LIF 223468 31.07 + 0.49
Agnico-Eagle AEM 6731480 31.26 - 1.61
Yamana Gold YRI 15223714 8.76 - 0.42
Tahoe Res THO 439218 23.11 - 0.4
Mag Silver MAG 427822 7.33 - 0.4
Primero Mng P 1922176 6.69 - 0.39
Argonaut Gold AR 2567354 3.8 - 0.39
Barrick Gold ABX 7146852 19.81 - 0.38
Pretium Res PVG 386205 6.04 - 0.33
Energy Fuels EFR 153776 8.85 - 0.29
Pan Am Silver PAA 719449 14.14 - 0.23


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

Related News
Imperial counting on smooth Red Chris startup; pegs Mt. Polley cleanup at $67.4M
Imperial agrees to First Nations review of Red Chris
Letter to the editor: Why Mount Polley's tailings are not toxic
Related Press Releases
Marathon Zone Expanding with 2.74 g/t Au over 24.2m (TT), 2.71 g/t Au over 16.5 m (TT), and 2.58 g/t Au over 15.4 m (TT), Valentine Gold Camp
Imperial Reports 2014 Third Quarter Financial Results
Marathon Gold Announces Q3 2014 Financial Results
 



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