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TABLE OF CONTENTS Aug 25 - 31, 2014 Volume 100 Number 28 - 0 comments

TSX up slightly, Aug. 11-15

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2014-08-20

The S&P/TSX Composite Index rose 0.71% to 15,304.24 while the S&P/TSX Capped Metals & Mining Index fell 2.06% to 885.07. The S&P/TSX Global Gold Index climbed 0.36% to 204.05 and the spot price for gold lost US$4.60 per oz., to close at US$1,304.50.

Torex Gold Resources was the most actively traded stock of the week with 31.9 million shares changing hands. Its share price rose 16¢ to $1.67. On Aug. 11 the company announced that its subsidiary had signed a credit agreement and other documentation giving effect to a syndicated US$375-million, 8.25-year senior secured project finance facility for developing its El Limon–Guajes project. More money became available on Aug. 13 when Torex received $84.8 million from the exercise of 56.5 million warrants at $1.50 apiece. Torex is developing its El Limon–Guajes mine 180 km southwest of Mexico City. The company reported on Aug. 14 that mining for the Guajes pit and contruction of a road to the El Limon pit are both on schedule. 

The second most actively traded stock with 20.9 million shares changing hands was B2Gold. Its shares fell 6¢ to $2.87. The gold producer reported its financial results on Aug. 14. Gold production in the second quarter reached 85,704 oz., which is 5% below budget, but a 4% increase over the second-quarter of 2013. Consolidated cash-operating costs were US$720 per oz. — in-line with the company’s budget — and US$12 per oz. lower than in the year-earlier period. Cash flow from operating activities before changes in non-cash working capital reached US$29.9 million, or 4¢ per share, and B2Gold held US$134.8 million in cash as of June 30. B2Gold reported that mine construction of its 90%-owned Otjikoto project in Namibia remains on budget and schedule, with production expected to start in the fourth quarter of this year.

The new 50-50 owners of Canadian Malartic — Agnico Eagle Mines and Yamana Gold — updated the mine’s reserves on Aug. 13. Proven and probable reserves total 263 million tonnes grading 1.06 gram gold per tonne for 8.9 million oz. gold using a US$1,300 per oz. gold price. Global resources, including reserves, total 314 million tonnes grading 1.07 grams gold for 10.8 million oz. gold.

The two companies reported that the addition of the 5% royalty payable to Osisko Gold Royalties increased the highest cut-off grade from 0.33 gram gold per tonne to 0.35 gram gold, which is a 60,000 oz. decrease to the reserve base from estimates published earlier by Osisko, the mine’s previous owner. The partners also announced that a US$100 per oz. decline in the gold price would only reduce Canadian Malartic’s reserves by 3.3%, or 310,000 oz. Agnico-Eagle shares advanced 73¢ to $42.96, while Yamana’s shares slipped 1¢ to $9.46.   

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Torex Gold TXG 31841 1.71 1.5 1.67 + 0.16
B2Gold BTO 20914 3.12 2.82 2.87 - 0.06
Carpathian Gld CPN 14325 0.03 0.02 0.02 - 0.01
Eldorado Gold ELD 11595 9.37 8.76 9 + 0.02
Ram Power RPG 10997 0.02 0.02 0.02 - 0.01
Yamana Gold YRI 9983 9.9 9.35 9.46 - 0.01
Capstone Mng CS 9411 2.74 2.6 2.68 - 0.02
Teck Res B TCKB 8541 26.04 24.75 25.04 - 0.62
Barrick Gold ABX 7408 21.14 20.32 20.64 + 0.13
Semafo SMF 7074 5.33 4.96 5.1 - 0.2

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Jayden Res JDN 158 0.27 0.15 0.27 + 80
TVI Pacific TVI 4105 0.03 0.02 0.03 + 66.6
Loncor Res LN 38 0.13 0.09 0.13 + 52.9
Victory Nickel NI 3347 0.07 0.06 0.07 + 27.2
Namibia Rare E NRE 352 0.18 0.12 0.15 + 26
Talon Metals TLO 2522 0.44 0.34 0.4 + 21.2
Kirkland Lk Gd KGI 3035 5 4.18 4.95 + 19.2
Macarthur Mnl MMS 22 0.23 0.18 0.23 + 18.4
Stockport Expl SPT 50 0.07 0.07 0.07 + 16.6
Mawson Res MAW 43 0.35 0.28 0.35 + 16.6
Mediterrn Res MNR 168 0.02 0.02 0.02 - 33.3
Mawson West MWE 505 0.37 0.25 0.27 - 28.9
MBAC Fertilizr MBC 2517 0.39 0.26 0.28 - 26.3
Ram Power RPG 10997 0.02 0.02 0.02 - 25
Western Lithiu WLC 3088 0.76 0.57 0.59 - 21.3
Banro BAA 3927 0.26 0.2 0.2 - 20
Carpathian Gld CPN 14325 0.03 0.02 0.02 - 20
Orvana Mnrls ORV 3549 0.53 0.35 0.41 - 15.4
Dejour Enterp DEJ 533 0.36 0.29 0.29 - 14.7
First Nickel FNI 299 0.04 0.03 0.03 - 14.2

TSX greatest value change


Company Symbol Change Close Change
Russell Metals RUS 1164139 36.86 + 1.63
Cameco Corp CCO 3740474 22.4 + 1.29
Seabridge Gold SEA 278630 11.8 + 1.27
Agrium AGU 1234515 100.26 + 1.1
Kirkland Lk Gd KGI 3034765 4.95 + 0.8
Agnico-Eagle AEM 4390716 42.96 + 0.73
Mag Silver MAG 1482836 10.21 + 0.37
Richmont Mines RIC 1679062 2.68 + 0.36
Goldcorp G 7053668 31.14 + 0.35
Pretium Res PVG 1227226 7.82 + 0.32
Tahoe Res THO 1346833 27.99 - 1.79
Silver Wheaton SLW 5774477 27.88 - 1.26
First Majestic FR 2010119 10.74 - 1.06
Royal Gold RGL 32685 86.09 - 1
Pan Am Silver PAA 1119586 15.48 - 0.93
First Quantum FM 5864730 24.05 - 0.79
Franco-Nevada FNV 1882354 63.41 - 0.69
Teck Res B TCKB 8541310 25.04 - 0.62
Labdr I-Ore Ro LIF 769979 30.83 - 0.6
Fortuna Silver FVI 2180194 5.61 - 0.53


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Related News
Agnico Eagle's 'exciting' Amaruq discovery in Nunavut
TSX down again, Sept. 29 - Oct. 3
Yamana keeps the drills close to home, as it looks for 'higher-quality ounces'
Related Press Releases
Yamana Gold Announces Signing of Memorandum of Understanding With Government of Catamarca
B2Gold Corp. and Papillon Resources Limited Complete Merger
Yamana Gold Provides Corporate Update
 



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