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TABLE OF CONTENTS Sep 8 - 14, 2014 Volume 100 Number 30 - 0 comments

TSX soars, Aug. 25-29

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2014-09-03

Canada’s main stock index kicked off the Labour Day weekend with a 90.18-point gain to 15,625.73. The S&P/TSX Global Gold Index edged up nearly 4 points to 202.10, helped by a US$6.40 per oz. jump in the gold spot price, which closed at US$1,287.20. The S&P/TSX Capped Diversified Metals & Mining Index, however, fell 11 points to 879.99.

Peru-focused, multi-commodity explorer Vena Resources advanced 57% to 11¢, becoming the week’s percentage winner. On Aug. 28, the company amended its terms to buy joint-venture partner Forrester Resources — a private exploration and development firm has an option to buy up to 85% of  Vena’s Las Princesas–La Reyna gold-siver-zinc properties in northern Peru.

Under the revised offer, Vena, which previously announced its intention to buy Forrester in late June, will provide 13.8 million of its shares, instead of 22.9 million. Once the acquisition closes, former Forrester shareholders will own 17% of Vena, instead of the previous 25%. Vena expects the transaction to conclude shortly, but notes it depends on several conditions, including Forrester having at least $300,000 of cash-on-hand, down from the previous $700,000 requirement.

After the transaction, Forrester will become a wholly owned subsidiary of Vena, and its current CEO Martin Walter will join Vena’s five directors. Dennis Gibson will become Vena’s new chief financial officer, replacing interim CFO Silvia Dedios. 

Junior Inspiration Mining gained 44% to end the week at 12¢ after a 53% spike in its share price on Aug. 29, as 1.5 million shares changed hands. In a statement that day, Inspiration said it is unaware of any “specific factors” that might have led to the heavy trading levels and jump in share price.

However, on Sept. 2, Inspiration noted it had become aware of an email campaign regarding its Langmuir nickel project near Timmins, Ont. Without divulging the content of the emails, likely containing unsubstantiated claims about Langmuir’s potential, Inspiration said it had no relations with the individuals behind the campaign or prior knowledge of the emails.

Vancouver-based Coalspur Mines jumped 40% to 7¢ after receiving provincial approvals and a licence for the first phase of its Vista thermal coal project in Alberta. The Alberta energy regulator approved the construction and operation of the project under the Environmental Protection and Enhancement Act and the Water Act. It also gave Coalspur a water licence to operate, as well as divert groundwater and surface water each year. The company is now waiting for a mineral surface lease from the province. First coal from phase one is expected by the end of 2016. The project should have an initial production rate of 6.5 million tonnes a year, before nearly doubling in phase two.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Teranga Gold TGZ 19932 0.86 0.76 0.86 + 0.08
B2Gold BTO 16607 2.84 2.63 2.8 + 0.07
Yamana Gold YRI 14320 9.28 8.97 9.26 + 0.09
Eldorado Gold ELD 8023 9.05 8.58 8.99 + 0.23
Kinross Gold K 6380 4.35 4.23 4.3 - 0.02
Goldcorp G 5909 30.56 29.32 30.53 + 0.7
Barrick Gold ABX 5776 20.03 19.62 19.99 + 0.07
MBAC Fertilizr MBC 5636 0.27 0.21 0.25   0
Teck Res B TCKB 5534 25.45 24.38 24.69 - 0.4
Trevali Mng TV 5393 1.38 1.29 1.32   0

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Vena Res VEM 915 0.13 0.07 0.11 + 57.1
Marengo Mng MRN 2141 0.02 0.01 0.02 + 50
Inspiration Mg ISM 1567 0.15 0.07 0.12 + 43.7
Coalspur Mines CPT 3246 0.07 0.05 0.07 + 40
Avnel Gold AVK 83 0.18 0.13 0.18 + 38.4
Ram Power RPG 4912 0.02 0.02 0.02 + 33.3
Lithium Americ LAC 1136 0.33 0.26 0.32 + 23
INV Metals INV 38 0.34 0.31 0.34 + 21.4
Excellon Res EXN 219 1.4 1.13 1.4 + 20.6
Orezone Gold ORE 2960 1.07 0.86 1.07 + 20.2
First Point FPX 609 0.15 0.11 0.11 - 30
Peregrine Diam PGD 2354 0.37 0.25 0.28 - 28.5
Contl Precious CZQ 207 0.61 0.51 0.51 - 21.5
First Nickel FNI 625 0.04 0.03 0.03 - 16.6
Cardero Res CDU 234 0.08 0.07 0.07 - 13.3
St Augustine SAU 117 0.18 0.18 0.18 - 12.5
Canarc Res CCM 123 0.09 0.08 0.08 - 11.1
Silver Bear Rs SBR 199 0.13 0.12 0.12 - 11.1
Strateco Res RSC 216 0.05 0.04 0.04 - 11.1
BioteQ Env BQE 104 0.06 0.04 0.05 - 10

TSX greatest value change


Company Symbol Change Close Change
Royal Gold RGL 20090 84.55 + 1.74
Agrium AGU 1847842 102.82 + 1
Seabridge Gold SEA 182388 12.69 + 0.87
Agnico-Eagle AEM 2650883 41.58 + 0.81
Kirkland Lk Gd KGI 2344835 5.97 + 0.77
Goldcorp G 5908750 30.53 + 0.7
Pretium Res PVG 788199 8.08 + 0.59
Richmont Mines RIC 1127642 3.01 + 0.45
Argonaut Gold AR 3236951 4.45 + 0.42
Allied Nevada ANV 489739 4.12 + 0.41
Labdr I-Ore Ro LIF 974735 29.99 - 1.45
Mag Silver MAG 1184742 8.9 - 0.73
Cameco Corp CCO 4633186 21.26 - 0.54
Horizns G Bear HGD 1280539 11.05 - 0.46
Teck Res B TCKB 5534374 24.69 - 0.4
Potash Cp Sask POT 3862010 38.19 - 0.35
Russell Metals RUS 737581 36.48 - 0.3
Semafo SMF 3618035 4.84 - 0.24
HudBay Minls HBM 1668281 11 - 0.2
Lundin Mng LUN 4948738 5.82 - 0.2


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Related News
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Related Press Releases
Inspiration Responds to Recent Email Campaign
IIROC Trade Resumption - ISM
TSX Delisting Review - Vena Resources Inc. (Symbol: VEM)
 

Properties in This Story

Langmuir Project
Vista Coal Project



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