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TABLE OF CONTENTS Sep 1 - 7, 2014 Volume 100 Number 29 - 0 comments

TSX posts small increase, Aug. 18-22

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2014-08-27

The S&P/TSX Composite Index rose 1.51% to 15,535.55 while the S&P/TSX Capped Metals & Mining Index advanced 0.63% to 890.66. The S&P/TSX Global Gold Index fell 2.76% to 198.41 and the gold spot price fell 1.8% or US$23.70 per oz. to US$1,280.80.

Orocobre shares rose 53¢ to $3.10 as the company provided an update on its 60%-owned Olaroz lithium mine project in Argentina’s Jujuy province. Construction of the US$229 million mine began in November 2012. About 95% of the construction work is now done and anticipated to be completed on budget. Orocobre expects to start commissioning the lithium carbonate plant at the end of August, followed by the purification circuit and the drying and micronizing circuits in the period to mid-October. Full automatic operation is expected to be achieved during October. Gas-fired electricity generation was commissioned in July as scheduled and the company is nearing completion of the evaporation pond lining. Orocobre’s partners on the project are Toyota Tsusho Corp. of Japan and Jujuy Energia y Mineria Sociedad del Estado, a mining investment company owned by the Jujuy provincial government.  

First Quantum completed its acquisition of Lumina Copper and its Taca Taca copper project in a cash and share deal valued at $470 million. Taca Taca is in the Puna region of northwestern Argentina’s Salta province, 120 km east of Escondida, the world’s largest producing copper mine. First Quantum’s shares climbed 45¢ to end the trading week at $24.50.

Shares of Russel Metals advanced 30¢ to $36.78 on the back of strong second-quarter results. One of the largest metals distribution and processing companies in North America (it primarily distributes steel products and conducts its distribution business in metals service centres, energy products and steel distributors), Russel reported earnings of $31 million or 50¢ per share on revenues of $893 million, up from earnings of $20 million or 33¢ per share on revenues of $758 million in the same quarter last year.  Revenues in its metals service centre segment jumped 11% year-on-year to $419 million due to stronger demand and higher steel prices.

Alamos Gold received the final signatures approving the environmental impact assessment (EIA) for its Agi Dagi gold mine project in Turkey. The company is also amending the EIA for its Kirazli gold mine project and expects to submit the revised documents by the end of September. Gold production from Kirazli, the first of its Turkish projects, is expected within 18 months of receiving outstanding forestry and operating permits. Alamos has about US$390 million in cash and no debt, and expects to fund development of its Turkish projects internally. Alamos owns the Mulatos mine and has exploration and development activities in Mexico. Shares of Alamos fell 69¢ to $9.93.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Mercator Mnls ML 29690 0.05 0.02 0.03 - 0.03
Banro BAA 23704 0.33 0.19 0.28 + 0.08
Carpathian Gld CPN 18560 0.03 0.02 0.02   0
Torex Gold TXG 17242 1.75 1.6 1.66 - 0.01
B2Gold BTO 12080 2.87 2.73 2.73 - 0.14
Romarco Mnrls R 10218 0.85 0.78 0.79 - 0.05
Ram Power RPG 9285 0.02 0.01 0.02   0
Yamana Gold YRI 7971 9.58 9.08 9.17 - 0.29
Barrick Gold ABX 7783 20.83 19.9 19.97 - 0.67
Goldcorp G 7100 31.34 29.7 29.83 - 1.26

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Prophecy Coal PCY 2333 0.09 0.06 0.08 + 60
Contl Precious CZQ 415 0.75 0.43 0.65 + 52.9
Mediterrn Res MNR 1729 0.03 0.02 0.03 + 50
Banro BAA 23704 0.33 0.19 0.28 + 40
St Augustine SAU 666 0.21 0.16 0.2 + 37.9
Oban Mng OBM 20 0.16 0.16 0.16 + 28
CaNickel Mng CML 61 0.33 0.27 0.3 + 27.6
Oracle Mng OMN 117 0.1 0.07 0.1 + 25
Starcore Int V SAM 3339 0.22 0.16 0.21 + 23.5
Niocan Inc NIO 501 0.2 0.11 0.16 + 23
Mercator Mnls ML 29690 0.05 0.02 0.03 - 50
Jayden Res JDN 208 0.26 0.17 0.17 - 37
Duluth Metals DM 2385 0.45 0.23 0.28 - 34.8
Avnel Gold AVK 146 0.17 0.13 0.13 - 23.5
Loncor Res LN 16 0.12 0.1 0.1 - 23
Xinergy XRG 71 0.37 0.31 0.31 - 20.5
EMC Metals EMC 1476 0.12 0.09 0.1 - 16.6
Redhawk Res RDK 134 0.22 0.18 0.19 - 15.5
Zincore Mtls ZNC 87 0.13 0.1 0.11 - 15.3
Victory Nickel NI 2356 0.07 0.06 0.06 - 14.2

TSX greatest value change


Company Symbol Change Close Change
Agrium AGU 1324118 101.82 + 1.56
Labdr I-Ore Ro LIF 980316 31.44 + 0.61
Horizns G Bear HGD 1807972 11.51 + 0.59
Orocobre ORL 152453 3.1 + 0.53
First Quantum FM 6371749 24.5 + 0.45
Potash Cp Sask POT 3333071 38.54 + 0.41
Allied Nevada ANV 481791 3.71 + 0.38
Centerra Gold CG 1789426 6.43 + 0.33
Russell Metals RUS 895906 36.78 + 0.3
HudBay Minls HBM 2885897 11.2 + 0.26
Royal Gold RGL 34565 82.81 - 3.28
Franco-Nevada FNV 2255309 61.17 - 2.24
Agnico-Eagle AEM 2639020 40.86 - 2.1
Goldcorp G 7099622 29.83 - 1.26
Imperial Metal III 1099997 9.03 - 1.08
Alamos Gold AGI 1393484 9.93 - 0.69
Barrick Gold ABX 7783439 19.97 - 0.67
Silver Wheaton SLW 4452073 27.23 - 0.65
Cameco Corp CCO 3959979 21.8 - 0.6
Mag Silver MAG 424293 9.63 - 0.58


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Related News
TSX declines, Sept. 22-26
Alamos scores Agi Dagi EIA approval, but Kirazli in limbo
Eric Roth's Aegean Metals sees upside in Turkey
Related Press Releases
First Quantum Minerals Announces Resumption of Operations at Its Guelb Moghrein Mine
Alamos Gold Declares Semi-Annual Dividend
First Quantum Minerals Suspends Operations at Its Guelb Moghrein Mine
 



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