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 Sep 30 - Oct 6, 2013 Volume 99 Number 33 - 0 comments

Toronto Stock Exchange, Sept. 16-20

TEXT SIZE bigger text smaller text
2013-09-25

The U.S. Federal Reserve’s surprise announcement to maintain its stimulus program helped lift Toronto markets during the trading week.

The S&P/TSX Composite Index gained 83.07 points to 12,806.47 after the U.S. central bank said it would keep its US$85-billion-per-month bond buying policy, pushing out tapering concerns.

The S&P/TSX Capped Metals & Mining Index edged up 10.27 points to 811.91. However, the S&P/TSX Global Gold Index stayed flat at 178.20 points, as the New York spot price for gold slipped US$2.30 per oz. to US$1,325.60.

Nevada-based EMC Metals jumped 40% to 4¢ after it signed a letter of intent to sell its wholly owned subsidiary, the Springer Mining Co. — including the related mine, mill and tungsten assets, along with two other Nevada properties — to Americas Bullion Royalty Corp. for US$5 million in cash. The other assets include the Copper King tungsten project and the Carlin vanadium property. EMC says the proceeds would be used to repay a matured US$3-million loan and help develop its scandium projects in Australia and Norway.

Rockwell Diamonds rose 38% to 40¢ after it recovered four large diamonds from its Middle Orange River projects in South Africa. Of the four stones, two weighing 126 carats and 169 carats were discovered at the Saxendrift Hill complex, while the other two, weighing 116 carats and 138 carats, were retrieved from gravels at the Saxendrift extension pit. The company says the new mining areas and X-ray technology have increased diamond recoveries. 

EMED Mining had an interesting week. On Sept. 16, it shares rose after it said it should receive two long-awaited permits for its past-producing Rio Tinto copper project in southern Spain by year-end, after which it could start a refurbishing site, with production expected in 2015. Three days later, EMED abruptly announced the resignation of its CEO and managing director Harry Anagnostaras-Adams, partially erasing those gains. However, it reassured investors that Rio Tinto is still on track and appointed Rod Halliday, the current CEO of its subsidiary, EMED Tartessus, as interim CEO. Its shares eked out a 28.5% gain to close at 14.5¢.

Mali-focused uranium explorer Rockgate Capital leaped 28.1% to 21¢ after receiving an unsolicited takeover offer from Denison Mines. Denison is offering 2.2 of its shares for each Rockgate share, implying a value of $26.7 million, or 23¢ a share. The bid came a week before Rockgate shareholders were slated to vote on a merger announced in early June with Mega Uranium. Rockgate has acknowledged Denison’s offer and advised shareholders to wait for details before taking action. Denison’s proposed offer remains open until Oct. 25.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Osisko Mng OSK 49725 5.77 4.96 5.41 + 0.36
Iamgold IMG 42833 6.22 5.21 5.21 - 0.35
Semafo SMF 32854 2.47 2 2.35 + 0.42
Alacer Gold ASR 27678 3.57 2.87 3.25 + 0.37
Barrick Gold ABX 26483 20.83 18.52 19.11 + 0.77
Kinross Gold K 23176 5.91 5.27 5.27 - 0.09
B2Gold BTO 22405 3.01 2.58 2.69 + 0.06
Goldcorp G 21810 29.46 26.63 26.96 - 0.34
Eldorado Gold ELD 19814 8.14 7.04 7.15 - 0.13
Detour Gold DGC 18534 10.91 9.3 9.77 - 0.24

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
First Nickel FNI 695 0.03 0.02 0.03 + 50
Armistice Res AZ 1777 0.05 0.04 0.05 + 42.8
EMC Metals EMC 735 0.04 0.03 0.04 + 40
Rockwell Diam RDI 693 0.56 0.31 0.4 + 37.9
Emed Mining EMD 7256 0.14 0.11 0.14 + 28.5
Rockgate Cap RGT 7992 0.22 0.15 0.21 + 28.1
Orbite Alumnae ORT 5160 0.5 0.34 0.42 + 25.7
Geovic Mng GMC 207 0.08 0.06 0.08 + 25
Volta Res VTR 1668 0.25 0.19 0.25 + 22.5
Semafo SMF 32854 2.47 2 2.35 + 21.7
Western Lithiu WLC 3341 0.35 0.21 0.26 - 42.2
Northern Dyn M NDM 1948 1.7 1.36 1.45 - 37.7
Redzone Res REZ 16 0.06 0.06 0.06 - 33.3
Crosshair Engy CXX 1493 0.04 0.02 0.02 - 33.3
First Point FPX 924 0.28 0.21 0.21 - 25.4
Centerra Gold CG 7427 5.85 4.83 4.85 - 22.6
CaNickel Mng CML 20 0.16 0.15 0.15 - 21.6
Belo Sun Mng BSX 1469 0.73 0.5 0.51 - 21.5
Stockport Expl SPT 109 0.06 0.06 0.06 - 20
Coro Mining COP 354 0.09 0.08 0.08 - 20

TSX greatest value change


Company Symbol Change Close Change
Franco-Nevada FNV 5322620 45.99 + 1.82
Labdr I-Ore Ro LIF 401822 31.52 + 1.52
Barrick Gold ABX 26483353 19.11 + 0.77
HudBay Minls HBM 3630844 8.61 + 0.69
First Quantum FM 10697174 18.97 + 0.49
Intl Minls Crp IMZ 165851 2.64 + 0.44
Altius Mnrls ALS 88728 11.2 + 0.44
Primero Mng P 2103917 5.78 + 0.44
Rare Elemnt Rs RES 329042 3 + 0.43
Semafo SMF 32853762 2.35 + 0.42
Royal Gold RGL 26149 51.54 - 2.2
Centerra Gold CG 7426799 4.85 - 1.42
Tahoe Res THO 1337022 17.3 - 1.05
Seabridge Gold SEA 346985 13 - 1.02
Northern Dyn M NDM 1947889 1.45 - 0.88
Mag Silver MAG 487770 6.24 - 0.82
Horizns G Bear HGD 4741240 18.69 - 0.79
Cameco Corp CCO 5995517 19.92 - 0.68
Pretium Res PVG 2115746 7.19 - 0.54
China Gold Int CGG 5541356 2.8 - 0.52


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

Related News
Denison builds up Wheeler River's potential as Gryphon expands
U.S. equities edge higher, July 14-18
Campbell pilots Rockwell to new riches on Orange River
Related Press Releases
EMED Mining Public Limited: Notice of EGM Requisition
IIROC Trade Resumption - EMC
Results of Preliminary Economic Assessment on Nyngan Scandium Project in Australia
 



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