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TABLE OF CONTENTS Jun 30 - Jul 6, 2014 Volume 100 Number 20 - 0 comments

TSX hits record high, June 16-20

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2014-06-25

Canada’s benchmark index gained for the third straight week. The S&P/TSX Composite Index climbed 107.36 points to finish the week at 15,108.97, before reaching an all-time closing high of 15,112.22 points a day earlier.

The S&P/TSX Global Gold Index moved up 10.28 points to 193.85, as the spot gold price gained US$38.80 per oz. to end at US$1,314.70. The S&P/TSX Capped Diversified Metals & Mining Index rose 17.04 points to 848.21.

Golden Minerals advanced 76% to 73¢ after reporting it would restart mining in July on its Velardena properties in Mexico. The company placed its Velardena silver–gold mine on care and maintenance last June due to falling precious metal prices. Golden Minerals intends to reopen the underground mine as a smaller operation that would process 285 tonnes per day by mid-2015. Once the ramp up is complete, production should total 1 million to 1.2 million equivalent oz. silver a year, at cash costs of US$12 to US$15 per silver oz., net of gold credits.

Struggling miner Besra Gold rose 60% to 4¢. It announced a US$14.3-million private placement agreement with Victory Corp. Group of Switzerland. Victory is set to buy 40% of Besra, or 250 million shares priced at US5.7¢. The miner intends to use the US$13.9 million in net proceeds to pay the outstanding interest under its convertible and gold-linked notes, as well as restore production at its Vietnamese mines Bong Mieu and Phuoc Son. The financing should close on July 10, pending board and regulatory approvals.

Under the agreement, Besra will also sell up to 50,000 oz. gold each year at spot to one of Victory’s related companies. Victory is a consortium of companies involved in oil and oil production, retailing and commodities, to name a few industry sectors.

Shares in Perseus Mining added nearly 27% after the miner reported several high-grade gold intercepts from the recent drilling on the Bokitsi South deposit at its Edikan gold mine in Ghana. Highlights include 11 metres of 7.4 grams gold per tonne, including 4 metres of 14.3 grams gold; and 13 metres of 5.7 grams gold, including 5 metres of 12.5 grams gold.

So far, the company has received results for 15 of the 37 recent holes drilled at Bokitsi South. The drilling targeted areas containing inferred resources and tested the lode’s southern extent. The company intends to include the 37 holes in an updated resource estimate for Bokitsi South due early in the third quarter. It will also publish a maiden reserve estimate for the deposit later that quarter.

B2Gold was the week’s most actively traded stock, finishing at $3.07, as 53.5 million shares changed hands on no news. The week before the miner announced that construction of the US$244-million Otjikoto gold mine in Namibia remains on budget and on track for completion by year-end.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
B2Gold BTO 53530 3.12 2.71 3.07 + 0.23
Belo Sun Mng BSX 37461 0.27 0.19 0.22 - 0.01
INV Metals INV 25623 0.04 0.02 0.03   0
Yamana Gold YRI 24857 9.57 8.72 9.19 + 0.19
Eastern Platin ELR 21372 0.11 0.1 0.1   0
Barrick Gold ABX 20358 19.52 18.16 19.12 + 0.68
Centerra Gold CG 19737 5.76 4.86 5.68 + 0.93
Primero Mng P 18808 8.6 7.4 8.31 + 0.58
Kinross Gold K 16499 4.81 4.38 4.65 + 0.17
Goldcorp G 15248 29.83 26.64 29.17 + 1.89

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Golden Mnls AUM 761 1.7 0.73 1.27 + 76.3
Rio Novo Gold RN 303 0.14 0.09 0.13 + 62.5
Besra Gold BEZ 2091 0.05 0.03 0.04 + 60
Evolving Gold EVG 1475 0.02 0.01 0.02 + 50
Talon Metals TLO 3187 0.28 0.19 0.28 + 37.5
Dynasty Met&Mn DMM 67 1.69 1.28 1.69 + 30
Eastmain Res ER 1205 0.47 0.32 0.44 + 29.4
Perseus Mng PRU 3858 0.46 0.32 0.43 + 26.8
Alexco Res AXR 775 1.49 1.1 1.49 + 26.2
Harte Gold HRT 3305 0.17 0.13 0.17 + 25.9
Osisko Mng OSK 420 8.71 8.63 8.64 - 90
American Bonan BZA 146 0.02 0.02 0.02 - 25
Oracle Mng OMN 39 0.16 0.13 0.13 - 23.5
Inspiration Mg ISM 573 0.12 0.08 0.09 - 19
Prophecy Coal PCY 928 0.06 0.04 0.05 - 18.1
Loncor Res LN 97 0.09 0.07 0.07 - 17.6
Gabriel Res GBU 3424 1.02 0.81 0.88 - 16.1
CaNickel Mng CML 28 0.23 0.2 0.22 - 15.6
Emed Mining EMD 726 0.14 0.12 0.12 - 14.8
Ram Power RPG 3291 0.04 0.03 0.03 - 14.2

TSX greatest value change


Company Symbol Change Close Change
Royal Gold RGL 37135 78.78 + 5.58
Franco-Nevada FNV 2890407 59.26 + 4.47
Agnico-Eagle AEM 10360804 40.12 + 3.87
Silver Wheaton SLW 8635367 26.69 + 2.13
Potash Cp Sask POT 12100450 41.2 + 2.09
Tahoe Res THO 1196200 26.86 + 2.03
Agrium AGU 2075946 100.36 + 1.96
Goldcorp G 15247775 29.17 + 1.89
Detour Gold DGC 7942933 15 + 1.48
Mag Silver MAG 2149438 10.94 + 1.41
Osisko Mng OSK 419529 8.64 - 77.86
Horizns G Bear HGD 3193864 12.38 - 1.68
Altius Mnrls ALS 263894 12.42 - 0.5
Energy Fuels EFR 162760 7.83 - 0.35
Sierra Metals SMT 48197 1.62 - 0.27
China Gold Int CGG 4011003 3.06 - 0.27
Pretium Res PVG 1811723 8.05 - 0.2
Thompson Creek TCM 1618417 2.89 - 0.18
Gabriel Res GBU 3423864 0.88 - 0.17
Sherritt Intl S 5297748 4.39 - 0.16


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