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TABLE OF CONTENTS Feb 17 - 23, 2014 Volume 100 Number 1 - 0 comments

Toronto Stock Exchange, Feb. 3-7

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2014-02-12

Signs of strength in the Canadian economy coincided with an up period for the S&P/TSX Composite Index, which gained 86 points to 13,786.50 points over the week.

Statistics Canada said the economy created 29,400 jobs — beating the 20,000 economists were expecting — and the unemployment rate fell 0.2% to 7%. The numbers marked a turnaround from December when the Canadian economy lost 44,000 jobs. With jobs numbers south of the border missing expectations, the loonie was in favour again, reversing its recent downward trajectory and gaining 0.26 of a cent to reach US90.59¢.

The gold price held strong, as it was up US$20 to US$1,262.70 per oz. But the gains failed to flow through to the miners represented in the S&P/TSX Global Gold Index, falling flat at 183 points.

It was a different story in the base-metal sector, as stronger copper prices — up 5¢ to US$3.24 per lb. — complemented a gain for the diversified miners in the S&P/TSX Capped Diversified Metals and Mining Index, which was up 20 points to 830.

Augusta Resource  shares shot up 26% to finish the period at $2.51, one trading day before Hudbay Minerals launched an unsolicited, $540-million all-stock bid for Augusta. The offer values Augusta shares at $2.96 apiece and was announced on Feb. 9. With the deal Hudbay could secure one of the world’s biggest undeveloped copper projects in the form of Augusta’s Rosemont project in Arizona. Augusta has recently gained traction in its permitting process and had expected to begin construction later this year. Hudbay already owns 16% of Augusta’s shares.

The market responded well to some moves at Gran Colombia Gold. The company appointed a new CEO, Lombardo Paredes Arenas, and raised $4 million for its restructuring plan to curb costs at its Segovia gold mine in Colombia. The money comes by way of interest-free bridge loan from shareholders that have told Gran Colombia that they intend to purchase US$5-million worth of units connected to its offering last November. Gran Colombia said it was looking to raise between US$7 million and US$15 million by issuing units. The money is slated to go towards restructuring the Segovia and driving costs down to US$950 per oz. compared to last year’s US$1,300 per oz. Gran Colombia shares were up 48% to $1.45 for the period.

Assays from its Clearwater gold project gave Eastmain Resources a boost, as the company’s stock was up 24% to 52¢ for the period. The results were from the Eau Claire deposit, which is part of Clearwater in the James Bay region of Quebec. Highlights included 9.68 grams gold and 15.8 grams tellurium per tonne over 10 metres and 131.48 grams gold and 224.75 grams tellurium over 2 metres.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
B2Gold BTO 20277 2.89 2.63 2.82 + 0.19
Osisko Mng OSK 19779 6.81 6.45 6.67 - 0.01
Detour Gold DGC 16961 8.02 6.67 7.85 + 0.69
Barrick Gold ABX 16540 21.84 20.34 20.88 - 0.58
Goldcorp G 16288 28.45 27.12 28.24 + 0.45
Lundin Mng LUN 16285 5.19 4.6 5.13 + 0.26
Kinross Gold K 16152 5.38 5 5.33 + 0.22
Baja Mng BAJ 15601 0.06 0.03 0.04 - 0.02
First Quantum FM 14490 20.55 19.2 20.54 + 0.61
Potash Cp Sask POT 12484 37.4 34.81 37.13 + 2.21

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Gran Colombia GCM 284 1.46 0.99 1.45 + 47.9
Renaissance Gd REN 357 0.49 0.32 0.48 + 37.1
QMX Gold QMX 1218 0.02 0.01 0.02 + 33.3
Minco Gold MMM 713 0.65 0.45 0.62 + 31.9
Inspiration Mg ISM 176 0.11 0.08 0.11 + 31.2
Augusta Res AZC 848 2.59 1.96 2.51 + 25.5
Eastmain Res ER 1375 0.55 0.41 0.52 + 23.8
Entree Gold ETG 225 0.44 0.36 0.44 + 20.8
Argex Titanium RGX 861 0.8 0.62 0.78 + 20
Foraco Intl FAR 122 0.68 0.55 0.68 + 19.3
TriAusMin TOR 6757 0.04 0.03 0.03 - 45.4
Baja Mng BAJ 15601 0.06 0.03 0.04 - 33.3
Verde Potash NPK 767 0.56 0.35 0.38 - 29.6
Lithium Americ LAC 263 0.39 0.26 0.28 - 25.3
Aquila Res AQA 2474 0.11 0.09 0.09 - 25
Red Cresc Res RCB 95 0.02 0.02 0.02 - 25
South Am Silvr SAC 262 0.35 0.28 0.28 - 24.3
Powertech Uran PWE 2056 0.09 0.07 0.07 - 23.5
Freegold Vent FVL 237 0.27 0.2 0.21 - 21.1
American Bonan BZA 430 0.03 0.02 0.02 - 20

TSX greatest value change


Company Symbol Change Close Change
Royal Gold RGL 51407 68.02 + 5.78
Potash Cp Sask POT 12483520 37.13 + 2.21
Tahoe Res THO 1254952 21.17 + 1.39
Silver Std Res SSO 2194404 10.08 + 1.34
Agnico-Eagle AEM 5208038 35.67 + 1.01
Silver Wheaton SLW 5825815 24.97 + 0.78
Mag Silver MAG 851905 7.58 + 0.74
Franco-Nevada FNV 3552000 54.77 + 0.72
Labdr I-Ore Ro LIF 476975 33.25 + 0.7
Detour Gold DGC 16961090 7.85 + 0.69
Walter Energy WLT 39374 11.8 - 0.85
Agrium AGU 2118081 96.26 - 0.85
Dominion Diam DDC 395694 15.47 - 0.75
Barrick Gold ABX 16539809 20.88 - 0.58
Yamana Gold YRI 11319173 10.11 - 0.32
Horizns G Bear HGD 2344646 15.31 - 0.3
New Gold NGD 5122177 6.1 - 0.29
Corvus Gold KOR 397827 1.68 - 0.28
Cameco Corp CCO 7421280 23.43 - 0.24
Coeur Mng CDM 51709 11.13 - 0.21


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Related News
Eastmain's Eau Claire deposit grows in Éléonore's shadow
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Related Press Releases
Four High-Grade Gold Targets Confirmed at Eastmain Mine
Hudbay and Augusta Announce Completion of Amalgamation
Hudbay to Attend Upcoming September Conferences
 



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