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TABLE OF CONTENTS Jul 28 - Aug 3, 2014 Volume 100 Number 24 - 0 comments

TSX Venture loses ground for a second week, July 14-18

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2014-07-23

The S&P/TSX Venture Composite Index finished in the red for a second straight week after dropping 10.69 points en route to a 1,012.24-point close. Investors are monitoring geopolitical uncertainty in the Ukraine, as well as ongoing armed conflict in Gaza. Statistics Canada reporting that foreign investors bought up $21 billion of Canadian securities in May, most of them government bonds.

August contracts for gold bullion fell off a four-week high after losing US$30.40 and closing out the trading period at US$1,309.40 per oz. September contracts for West Texas Intermediate crude oil fell below US$100 mid-week, but finished relatively flat at US$101.95 per barrel. September contracts for copper lost US8.8¢ en route to a US$3.19 per lb. close.

Toronto-based Corsa Coal had a busy week after announcing what it said was a “transformative transaction” to buy low-volatile metallurgical coal producer PBS Coals for US$60 million. The company led the volume-traded category during the period after it saw its shares rise 10¢ before closing at 24¢ on 9.9 million shares traded.

Corsa has agreed to buy the PBS operations — which include two modern preparation plants and three active deep metallurgical coal mines in Somerset County, Pa. — from Severstal Resources, one of Russia’s largest producers of iron ore and coking coal, and a division of Severstal.

Corsa feels current met coal prices are “unsustainably low,” and sees potential synergies between PBS and its operations in Pennsylvania. In addition to the cash payment for the PBS assets, Corsa will assume reclamation and water-treatment liabilities totalling another US$60 million.

Explorer Kennady Diamonds finished atop the value-added category during the week after it gained 68¢ en route to a $5.69-per-share close. The company has started a drill program at its Kennady North diamond project in the Northwest Territories that will total at least 5,000 metres.

The program will comprise delineation drilling at the Kelvin and Faraday kimberlites, as well as exploration drilling at the MZ and Doyle kimberlites and at four new exploration targets. The company’s goal is to define a Kelvin–Faraday resource of between 5 million and 8 million tonnes with a grade of greater than 2 carats per tonne. Kennady is aiming to calculate a maiden resource by year-end.

Yukon-focused Kaminak Gold jumped 21¢ on 5 million shares traded before closing at $1 per share after it announced a $13.5-million non-brokered private placement with Ross Beaty and Zebra Holdings (the trust of the late Adolf H. Lundin). Each party is making a $6.8-million investment.

TSX-V most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Corsa Coal CSO 9868 0.24 0.14 0.23 + 0.1
Unigold UGD 9427 0.05 0.03 0.04 - 0.02
Gold Bulln Dev GBB 7473 0.08 0.05 0.05 - 0.02
Red Pine Expl RPX 7291 0.02 0.02 0.02 + 0.01
Nemaska Lith NMX 6804 0.17 0.12 0.14 + 0.02
Condor Res CN 5423 0.16 0.13 0.14 - 0.01
Kaminak Gold KAM 5040 1.19 0.86 1 + 0.21
Spur Vent SVU 4771 0.3 0.27 0.3   0
True Gold Mng TGM 4655 0.46 0.43 0.46 - 0.01
Highbank Res HBK 3918 0.36 0.24 0.33 + 0.1

TSX-V greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Cache Expl CAY 10 0.07 0.05 0.06 + 500
Red Mile Mnls RDM 706 0.02 0.01 0.02 + 200
Brookemnt  Cpt BKT 110 0.01 0.01 0.01 + 100
Reliance Res RI 2182 0.02 0.01 0.01 + 100
Frontline Gold FGC 164 0.01 0.01 0.01 + 100
Red Rock Enrgy RRK 10 0.01 0.01 0.01 + 100
Bonterra Res BTR 69 0.01 0.01 0.01 + 100
Sierra Madre D SMG 50 0.01 0.01 0.01 + 100
Running Fox Rs RUN 12 0.05 0.03 0.05 + 80
Wescan Goldfie WGF 25 0.05 0.03 0.05 + 80
Conquest Res CQR 22 0.02 0.01 0.01 - 50
Canadn Plat CPC 345 0.01 0.01 0.01 - 50
Viper Gold VPR 22 0.01 0.01 0.01 - 50
Sultan Mnrls SUL 31 0.01 0.01 0.01 - 50
Terra Firma Rs TFR 23 0.01 0.01 0.01 - 50
China Mnls Mng CMV 120 0.01 0.01 0.01 - 50
Caribou King R CKR 2236 0.02 0.01 0.02 - 40
Bell Copper BCU 301 0.04 0.02 0.02 - 40
Chimata Gold CAT 80 0.08 0.06 0.06 - 40
Coronet Mtls CRF 3013 0.02 0.01 0.02 - 40

TSX-V greatest value change


Company Symbol Change Close Change
Kennady Diam KDI 11118 5.69 + 0.68
Great Quest Me GQ 181418 1.81 + 0.41
Gold Reserve GRZ 10762 3.65 + 0.28
RPT Uranium RPT 317868 0.65 + 0.23
Kaminak Gold KAM 5039735 1 + 0.21
Marlin Gold MLN 57236 1.25 + 0.2
North Arrow Mn NAR 504431 0.81 + 0.11
Probe Mines PRB 406090 2.4 + 0.11
Highbank Res HBK 3918436 0.33 + 0.1
Corsa Coal CSO 9868062 0.23 + 0.1
Bear Creek Mng BCM 353149 3.23 - 0.27
Lumina Copper LCC 942986 10.35 - 0.26
Chesapeake Gld CKG 15848 3.52 - 0.25
Reservoir Mnls RMC 113896 5.98 - 0.2
Dalton Res Ltd DAL 66500 0.4 - 0.1
Diamcor Mng DMI 71866 1.2 - 0.1
Avino Silver ASM 121043 2.35 - 0.09
Flinders Res FDR 378287 0.77 - 0.09
Lincoln Mng LMG 41000 0.15 - 0.09
Atac Res ATC 542026 1.17 - 0.08


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Related News
TSX Venture trends downward, Oct. 14-17
Kennady Diamonds loses altitude on Kelvin results
TSX Venture finishes deeper in the red, Oct. 6-10
Related Press Releases
Corsa Files Techncial Report For PBS Coals
Kennady Diamonds Increases Kelvin - Faraday Tonnage Estimate to 9 - 12 million tonnes
Kennady Diamonds Announces Kelvin Diamond Recovery Results
 



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