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TABLE OF CONTENTS Aug 18 - 24, 2014 Volume 100 Number 27 - 0 comments

TSX Venture declines for a second week, Aug. 5-8

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2014-08-13

The S&P/TSX Venture Composite lost ground during the shortened trading sessions, dropping 3.16 points en route to a 997.47-point close. Investors seemed to favour safe-haven instruments like gold and government bonds. Statistics Canada reported that the economy generated 200 jobs in July, while consensus economist estimates showed 20,000 jobs would be created. Four days later StatsCan retracted the number, saying it was mistaken.

Gold futures were on the rise, as December contracts for bullion jumped 1.7%, or US$22.10, before closing out the trading period at US$1,311 per oz. West Texas Intermediate crude oil traded relatively flat, with September contracts losing US64¢ before closing at US$97.65 per barrel. September contracts for copper dropped 2.1%, or US6.8¢, en route to a US$3.18 per lb. close.

Abitibi Royalties led the value-added category after augmenting its executive team and updating a royalty at Agnico-Eagle Mines and Yamana Gold’s Canadian Malarctic mine in Quebec. The company gained $1.28 during the week before closing out the trading period at $4 per share.

On Aug. 5 Abitibi announced that Ian Ball would be the company’s new president. Ball has worked with Rob McEwen at Goldcorp and McEwen Mining, and most recently served as McEwen Mining’s president, where he was responsible for overseeing production, construction and exploration activities throughout North and South America.

Abitibi provided an update on a 2% net smelter return royalty it holds on the Gouldie deposit, which lies 300 metres south of the main Canadian Malartic pit. Agnico Eagle and Yamana recently gave an update on Gouldie in their second-quarter results, announcing they are accelerating activities at the deposit to increase mine flexibility by building a lower-grade stockpile. The partners are spending $13 million on mining in order to access the deposit.

Kennady Diamonds had a strong week after releasing diamond-recovery results from an early 2014 drill program at its wholly owned Kennady North project in the Northwest Territories. Shares rose 46¢ to $6.51 per share. On Aug. 5 Kennady revealed results from 933 kilograms of kimberlite from Faraday, with a sample grade of 5.10 carats per tonne. Besides the high sample grade, almost all the commercial-sized diamonds are described as transparent and either white-colourless or off-white. The company reports that 75% have zero or minor inclusions.

Industrial metal outfit Largo Resources was near the top of the volume-traded category after changing the amortization and covenants on an outstanding debt facility. The company saw 5.14 million shares traded, as it lost 2¢ before closing at 32¢ per share.

TSX-V most active issues

    Volume Week
    (000s) High Low Close Change
Bullman Mnls BUL 5328 0.3 0.28 0.29 - 0.01
Largo Res LGO 5143 0.36 0.31 0.32 - 0.02
Alabama Graph ALP 4889 0.29 0.2 0.26 + 0.05
Zenyatta Vent ZEN 4446 1.99 1.83 1.84 - 0.06
Satori Res BUD 3496 0.07 0.06 0.07 + 0.02
Goldstrike Res GSR 3250 0.2 0.08 0.16 + 0.08
True Gold Mng TGM 3071 0.43 0.39 0.42 - 0.02
Pershimco Res PRO 3015 0.37 0.34 0.34 - 0.01
Fission Uran FCU 2643 1.35 1.25 1.35 + 0.07
New Millennium PGM 2458 0.5 0.42 0.47 + 0.03

TSX-V greatest percentage change

    Volume Week
    (000s) High Low Close Change
Goldstrike Res GSR 3250 0.2 0.08 0.16 + 106.6
Greenflag Vent GFV 311 0.15 0.08 0.15 + 100
Mainstream Mnl MJO 256 0.01 0.01 0.01 + 100
Champion Bear CBA 30 0.18 0.14 0.18 + 100
African Metals AFR 20 0.01 0.01 0.01 + 100
Bravada Gold BVA 74 0.1 0.08 0.1 + 66.6
Electra Gold ELT 10 0.09 0.07 0.09 + 63.6
Camino Mnls COR 10 0.06 0.05 0.06 + 50
Cassidy Gold CDX 82 0.03 0.02 0.03 + 50
Copper One CUO 1619 0.07 0.04 0.06 + 50
Pac Imp Mines PPM 86 0.05 0.03 0.03 - 50
Paget Mnls PGS 22 0.01 0.01 0.01 - 50
Pantheon Vent PVX 235 0.02 0.01 0.01 - 50
Frontline Gold FGC 150 0.01 0.01 0.01 - 50
Bonterra Res BTR 66 0.01 0.01 0.01 - 50
Green Valley M GVY 20 0.01 0.01 0.01 - 50
Sunset Cove Mg SSM 45 0.01 0.01 0.01 - 50
Rome Res RMR 66 0.1 0.09 0.09 - 40
Sacre-Coeur Ml SCM 1815 0.03 0.01 0.02 - 40
Alturas Minls ALT 63 0.02 0.02 0.02 - 40

TSX-V greatest value change

 

    Week
    Change Close Change
Abitibi Royalt RZZ 70532 4 + 1.28
Kennady Diam KDI 48394 6.51 + 0.46
Gold Reserve GRZ 48922 4.6 + 0.35
Cayden Res CYD 417601 2.6 + 0.2
Bacanora Mnls BCN 415101 1.41 + 0.16
Reservoir Mnls RMC 144504 6.14 + 0.14
Kaminak Gold KAM 1020063 1.02 + 0.1
Champion Bear CBA 30000 0.18 + 0.09
Marlin Gold MLN 34510 1.24 + 0.09
Zimtu Capital ZC 79801 0.62 + 0.09
Lumina Copper LCC 821709 9.97 - 0.4
Pac Booker Min BKM 11647 4.95 - 0.15
RPT Uranium RPT 124280 0.5 - 0.09
Jaguar Mng JAG 74309 0.67 - 0.09
Great Atlantic GR 23500 0.19 - 0.08
Athabasca Mnls ABM 176406 2.48 - 0.07
Glenmark Cap GLM 10000 0.22 - 0.07
Atac Res ATC 641974 0.99 - 0.07
Newstrike Cap NES 57720 0.93 - 0.07
Antofagasta Gd AN 165915 0.19 - 0.07


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Related News
Largo ships first vanadium
Ian Ball jumps into the void, lands at Abitibi Royalties
Kennady climbs on more high-grade diamond results
Related Press Releases
Kennady Diamonds Announces $5M Non-Brokered Private Placement
Kennady Diamonds Drills 215 meters of Kimberlite at Kelvin: Drill Hole Still in Kimberlite
Largo makes first shipment of vanadium pentoxide
 



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