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TABLE OF CONTENTS Mar 3 - 9, 2014 Volume 100 Number 3 - 0 comments

TSX stays up, Feb. 18-21

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2014-02-26

The S&P/TSX Composite rose 150.96 points during the week to end at 14,205.72. The spot price for gold rose US$7 per oz. to $1,326.10, pushing up the gold miners. The S&P/TSX Global Gold Index added 4.03 points to 204.82, while the S&P/TSX Capped Diversified Metals & Mining index stayed relatively flat at 832.86 points.

Verde Potash was the week’s top percentage gainer, soaring 78.5% to $1. The boost came after the company said on Feb. 18 that it could receive up to 90% of the funds needed to build the first phase of its Cerrado Verde potash project in Brazil. The company submitted its business plan to Inova Agro — the Brazilian government’s program to financially support agriculture-related projects — last August, where it requested US$105 million to help develop the initial US$115-million, 1,000-tonne-per-day operation. In September, the company found out it will advance to the next round of evaluations, which it passed. The government will meet with the selected companies starting March 19 to define the funding structure, Verde says. 

Labrador Iron Mines topped the percentage losers, dropping 27% to close at 14¢. Shares in the Toronto-based miner started declining Feb. 14, after it revealed it would need to secure more funds to stay in business this year. The company estimates it will need $20 million to fund working capital to continue its operations in 2014 and another $30 million to develop its Huston growth project.

“The company continues to deplete its existing mines and we do not believe it will be able to raise the capital required to develop new operations,” cautions Desjardins analyst Jackie Przybylowski. She has reduced her target to 25¢ from 30¢ previously.

The troubled miner posted an adjusted loss of 25¢ per share for the third quarter ended Dec. 31, 2013, missing the consensus estimate of a 14¢-per-share loss. It exited the year with a $7.6-million cash balance and working capital deficit of $27.1 million.

Detour Gold was the most actively traded stock, with 17.8 million changing hands. The gold miner named Paul Martin as its new president and CEO. Martin was the interim CEO since the company’s founder and previous CEO Gerald Panneton abruptly exited late last November. Detour also appointed James Mavor as its chief financial officer. The single-asset company operates the Detour Lake gold mine in northeastern Ontario. It closed the week at 20¢ apiece. 

Agriculture nutrients giant Agrium was the top dollar gainer for the trading period, advancing $3.85 per share to $100.80. The Calgary-based firm posted adjusted fourth-quarter earnings of US$126 million, or US87¢ per share, slightly beating analyst estimates of US86¢. For 2013 the major reported earning of US$1.08 billion  or US$7.31 per share, down from US$1.52 billion or US$9.67 per share in 2012.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Detour Gold DGC 17825 10.35 9.32 10.09 + 0.2
B2Gold BTO 17052 3.23 2.97 3.18 + 0.13
Barrick Gold ABX 15788 23.64 21.81 23.29 + 0.93
Turquoise Hill TRQ 14600 4.04 3.56 4 + 0.44
Goldcorp G 13947 31.18 29.44 30.67 + 0.35
Rubicon Mnrls RMX 13804 1.95 1.45 1.51 - 0.27
Torex Gold TXG 13709 1.27 1.12 1.25   0
Carpathian Gld CPN 13231 0.07 0.05 0.06 - 0.02
Kinross Gold K 13160 5.98 5.51 5.82 + 0.1
Osisko Mng OSK 12547 7.08 6.78 7.03 + 0.07

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Verde Potash NPK 1976 1.09 0.55 1 + 78.5
Aura Mnls ORA 2675 0.18 0.12 0.18 + 50
Western Potash WPX 3295 0.53 0.36 0.52 + 46.4
Jayden Res JDN 27 0.15 0.11 0.15 + 42.8
Cerro Grande M CEG 267 0.04 0.02 0.04 + 40
Inspiration Mg ISM 164 0.12 0.1 0.11 + 29.4
Oracle Mng OMN 84 0.25 0.2 0.24 + 27
Hard Creek Ni HNC 70 0.05 0.04 0.05 + 25
Baja Mng BAJ 3574 0.05 0.04 0.05 + 25
Strateco Res RSC 1021 0.05 0.04 0.05 + 25
Besra Gold BEZ 3587 0.04 0.03 0.03 - 33.3
Labdr Iron Mns LIM 4496 0.18 0.13 0.14 - 27
TVI Pacific TVI 95 0.02 0.02 0.02 - 25
Polar Star Mng PSR 291 0.1 0.08 0.08 - 23.8
Carpathian Gld CPN 13231 0.07 0.05 0.06 - 21.4
Dejour Enterp DEJ 239 0.2 0.16 0.16 - 20
Stockport Expl SPT 217 0.05 0.04 0.04 - 20
EMC Metals EMC 231 0.03 0.02 0.02 - 20
Coro Mining COP 183 0.17 0.13 0.14 - 17.6
MDN Inc MDN 267 0.06 0.05 0.05 - 16.6

TSX greatest value change


Company Symbol Change Close Change
Agrium AGU 2063888 100.8 + 3.78
Franco-Nevada FNV 1611140 58.51 + 1.5
Russell Metals RUS 831144 30 + 1.39
Pan Am Silver PAA 2075348 16.84 + 1.2
Royal Gold RGL 42946 74.56 + 1.15
Agnico-Eagle AEM 7124201 38.13 + 1.03
Barrick Gold ABX 15788134 23.29 + 0.93
Dominion Diam DDC 1166542 16.53 + 0.92
Silver Wheaton SLW 6343101 28.74 + 0.86
North Am En Pa NOA 1125786 7.35 + 0.63
Labdr I-Ore Ro LIF 301811 32.16 - 0.76
Horizns G Bear HGD 2527359 12.01 - 0.59
Walter Energy WLT 42347 11.5 - 0.58
Altius Mnrls ALS 74626 14.94 - 0.56
Sherritt Intl S 12529366 2.93 - 0.5
Teck Res B TCKB 8373314 25.77 - 0.48
Alamos Gold AGI 3599557 11.04 - 0.43
Virginia Mines VGQ 194867 12.86 - 0.43
Cameco Corp CCO 5219409 23.53 - 0.31
Rubicon Mnrls RMX 13803601 1.51 - 0.27


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Related News
U.S. equities end the week higher, Oct. 20-24
Detour gets a handle on head grades, struggles with mill rates
S&P 500 on a roll, Aug. 25-29
Related Press Releases
Verde to Expand ThermoPotash Market Development Under Brazil's Agricultural Innovation Program
Detour Gold Provides Notice of Third Quarter 2014 Results and Conference Call
Public Funding Received to Expand ThermoPotash Development Activities
 



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