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TABLE OF CONTENTS Sep 2 - 8, 2013 Volume 99 Number 29 - 0 comments

Toronto Stock Exchange, Aug. 19-23

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2013-08-28

The S&P/TSX Composite Index was up 46 points to 12,762.30 for the period, with gold miners supporting the index’s strength.

After taking a mid-year beating, gold stocks are again showing signs of life, as economic concerns persist and traders look for more clarity from the Federal Reserve regarding a possible cutback on quantitative easing.

The latest minutes from the Fed point to a winding down of its bond-purchasing program later this year.

The price for gold was up US$18 to US$1,395.80 per oz., while the S&P/TSX Global Gold Index was up 7 points to 211.94.

Investor’s renewed enthusiasm for the yellow metal didn’t, however, spill over to the base metal camp. Despite some good economic reports out of China and the eurozone, the S&P/TSX Capped Diversified Metals & Mining Index was down 10 points to 803.52, and the price for copper was down a cent to US$3.35 per lb.

B2Gold was the most actively traded for the period. The activity comes after a strong run on its share price, which has gained more than 50% over the last few months. Such attention may have come from investors anticipating the gold miner would draw attention from potential acquirers.

The company recently raised US$259 million via a senior notes offering. Given that it was already well financed, some onlookers speculate that it is boosting its cash position to accommodate an acquisition. A potential suitor may be drawn to the company’s ability to turn a profit even under the sector’s tight conditions, as B2Gold generated net earnings of US$33 million, or 5¢ per share, for the second quarter. B2Gold shares were off 34¢ to $3.06 for the period on more than 45 million shares traded.

Wesdome Gold Mines generated some enthusiasm from the markets after releasing results from an underground drill program at its wholly owned Eagle River mine, which sits 50 km west of Wawa, Ont. Wesdome has been drilling to extend its 811 zone at the site, and a recent hole shows the zone persists to 1,200 metres. That hole returned 1.7 metres true width grading 78.43 grams gold. It also discovered two new gold structures — named the 7 and 300 zones — that could indicate a potential for parallel zones. Eagle River turned out 20,655 oz. gold over the past six months at cash costs of $1,066 per oz. The company’s stock was the largest gainer by percentage points for the period, as it was up 75% to 69¢ for the period.

And Royal Gold was up $3.03 to $67.07 after flashing positive technical signs. The company’s stock broke through its 200 moving-day average, an important threshold for investors looking for signs of positive momentum behind a stock. The company’s shares closed as low as $41.34 in late June, but have been on a steady climb ever since.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
B2Gold BTO 45316 3.3 2.95 3.06 - 0.34
Kinross Gold K 29581 6.21 5.79 6.15 + 0.02
Barrick Gold ABX 19549 21.33 19.66 21.11 + 1.1
San Gold Res SGR 19125 0.19 0.13 0.16 + 0.02
Iamgold IMG 17563 7.13 6.31 7.06 + 0.53
Yamana Gold YRI 16056 12.77 11.46 12.6 + 0.96
Goldcorp G 15611 33.13 31.54 32.6 + 0.56
Energy Fuels EFR 13098 0.23 0.19 0.23 + 0.04
Teck Res B TCKB 12323 28.62 26.25 27.59 - 1.11
Osisko Mng OSK 12307 5.57 4.98 5.52 + 0.32

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Wesdome Gold WDO 629 0.81 0.4 0.69 + 74.6
Stockport Expl SPT 159 0.08 0.05 0.08 + 50
Inova Res IVA 142 0.24 0.24 0.24 + 50
Azumah Res AZR 50 0.03 0.02 0.03 + 50
Inspiration Mg ISM 310 0.07 0.05 0.06 + 37.5
Thundermin Res THR 200 0.02 0.02 0.02 + 33.3
Corvus Gold KOR 626 1.09 0.76 1.04 + 33.3
Lexam VG Gold LEX 1078 0.16 0.11 0.15 + 31.8
Volta Res VTR 2960 0.25 0.18 0.24 + 30.5
Amara Mng AMZ 17 0.3 0.3 0.3 + 30.4
Jayden Res JDN 132 0.15 0.1 0.1 - 33.3
Cerro Grande M CEG 16 0.09 0.07 0.07 - 27.7
New Dawn Mng ND 24 0.3 0.22 0.25 - 24.2
Carpathian Gld CPN 10165 0.21 0.14 0.16 - 23.8
Kimber Res KBR 265 0.14 0.1 0.11 - 21.4
Evolving Gold EVG 493 0.06 0.05 0.05 - 16.6
Revolution Res RV 273 0.07 0.06 0.06 - 15.3
Rio Novo Gold RN 1789 0.07 0.06 0.06 - 15.3
Contl Precious CZQ 346 0.09 0.07 0.09 - 15
Opta Minls OPM 19 2.31 2.01 2.01 - 14.8

TSX greatest value change


Company Symbol Change Close Change
Royal Gold RGL 24525 67.07 + 3.03
Agrium AGU 1416376 91.04 + 2.19
Agnico-Eagle AEM 3714005 34.18 + 2.18
Seabridge Gold SEA 238219 16.82 + 1.97
Silver Wheaton SLW 7092127 29.13 + 1.37
Barrick Gold ABX 19549269 21.11 + 1.1
Yamana Gold YRI 16056010 12.6 + 0.96
Coeur Mng CDM 66739 17.38 + 0.93
First Majestic FR 2599470 16.18 + 0.85
Franco-Nevada FNV 2878661 48.57 + 0.83
Teck Res B TCKB 12323326 27.59 - 1.11
Labdr I-Ore Ro LIF 646684 31.9 - 0.95
Horizns G Bear HGD 4276595 14.44 - 0.94
First Quantum FM 11765613 18.35 - 0.61
Alamos Gold AGI 4926804 16.86 - 0.39
Opta Minls OPM 18675 2.01 - 0.35
B2Gold BTO 45315685 3.06 - 0.34
Sierra Metals SMT 10056 1.96 - 0.29
Karnalyte Res KRN 601678 1.98 - 0.29
Argonaut Gold AR 3406971 7.76 - 0.28


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