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TABLE OF CONTENTS May 26 - Jun 1, 2014 Volume 100 Number 15 - 0 comments

TSX dips a little, May 12-16

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2014-05-21

The S&P/TSX Composite Index has risen by more than 7% so far this year, but Canada’s main stock index fell 19.32 points to 14,514.74 during the trading week. The S&P/TSX Capped Diversified Metals & Mining Index rose 22.08 points to 863.26, while the S&P/TSX Global Gold Index fell 2.69 points to 177.01. The New York spot price of gold slid US$2.60 to finish at US$1,290.10 per oz.

Shares of Hudbay Minerals climbed 82¢ to $10 per share. After markets closed on May 16, the company extended its offer for Augusta Resource to May 27, 2014. Hudbay said it is “assessing, among other things, the potential implications of a letter dated May 13, 2014, that the U.S. Army Corps of Engineers (UACE) is reported to have sent to Augusta.” Hudbay said the USACE letter “advises Augusta that, in the context of its Clean Water Act Section 404 permit application, Augusta’s proposed compensatory mitigation is inadequate, and USACE staff is changing its focus from compensatory mitigation to preparing a final permit decision.”

Balmoral Resources surged 25.5% to $1.08 after the junior explorer released intercepts from the winter drill program at its Martiniere gold project in Quebec. The results included an intercept of 1,138 grams gold per tonne over 4.9 metres from the Bug Lake footwall zone, which included a record intercept of 9,710 grams gold per tonne over 0.6 metre.

Yamana Gold was the most traded stock, climbing 17¢ to $8.04. The company announced the appointment of industry veteran Daniel Racine as senior vice-president of Canadian operations and mine planning and development. Racine was previously president and chief operating officer for Brigus Gold, and served as president of mining at Agnico Eagle Mines. In April, Yamana Gold and Agnico Eagle agreed to acquire 100% of Osisko Mining in a deal worth $3.9 billion, trumping an earlier bid for the company from Goldcorp.  

Coalspur Mines was the second most actively traded of the week, down 53.1% to 8¢ after the company announced mid-week that it would no longer start building its Vista coal project in Alberta’s Hinton region in June, due to delays in securing needed financing and permits for developing phase one. The company said it was in “advanced discussions with potential strategic investors.” The Alberta Energy Regulator approved Vista in February and issued a mine permit, processing plant approval, and pit and dump licences. Coalspur said it is working to get its remaining permits and licences.

Shares of First Nickel fell 30% to 4¢. The company reported a first-quarter net loss of $9.3 million on $16.8 million in revenue. Total cash production costs were $12.8 million. Its Lockerby mine produced 2.7 million contained lb. nickel and 1.7 million contained lb. copper in the first quarter.  Two drillers were killed at Lockerby in May, and mining was suspended for two days.

TSX most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Yamana Gold YRI 15020 8.32 7.8 8.04 + 0.17
Coalspur Mines CPT 11956 0.16 0.06 0.08 - 0.09
Lundin Mng LUN 10906 5.9 5.55 5.6 + 0.09
Osisko Mng OSK 10175 8.2 7.99 8.05 + 0.05
Luna Gold LGC 9822 1.14 0.99 1.07 + 0.08
Goldcorp G 8732 27.55 26.61 26.74 - 0.3
First Quantum FM 8642 22.87 21.46 22.63 + 1.62
Barrick Gold ABX 8559 19.17 17.95 18.06 - 0.73
Teck Res B TCKB 8103 25.89 24.4 24.63 + 0.25
Romarco Mnrls R 7458 0.8 0.73 0.74 - 0.02

TSX greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
CaNickel Mng CML 22 0.22 0.16 0.22 + 37.5
Hard Creek Ni HNC 396 0.06 0.04 0.06 + 33.3
EMC Metals EMC 1613 0.09 0.07 0.09 + 28.5
Balmoral Res BAR 5364 1.09 0.93 1.08 + 25.5
MagIndustries MAA 162 0.22 0.18 0.22 + 22.8
MDN Inc MDN 569 0.08 0.06 0.06 + 20
Cardero Res CDU 483 0.1 0.08 0.09 + 20
Elgin Mng ELG 431 0.29 0.22 0.26 + 18.1
Jayden Res JDN 74 0.13 0.11 0.13 + 18.1
Serabi Gold SBI 515 0.1 0.09 0.1 + 17.6
Coalspur Mines CPT 11956 0.16 0.06 0.08 - 53.1
Cerro Grande M CEG 416 0.06 0.03 0.04 - 46.1
Evolving Gold EVG 249 0.02 0.01 0.01 - 33.3
First Nickel FNI 7027 0.06 0.04 0.04 - 30
BioteQ Env BQE 1291 0.06 0.04 0.04 - 27.2
American Bonan BZA 222 0.02 0.02 0.02 - 20
Petaquilla Mnl PTQ 1659 0.2 0.14 0.15 - 19.4
Ratel Grp RTG 1085 0.13 0.11 0.11 - 18.5
Verde Potash NPK 277 1.06 0.84 0.88 - 16.9
Carpathian Gld CPN 5392 0.03 0.03 0.03 - 16.6

TSX greatest value change


Company Symbol Change Close Change
First Quantum FM 8642294 22.63 + 1.62
Potash Cp Sask POT 5239947 40.13 + 0.87
HudBay Minls HBM 3687416 10 + 0.82
Pretium Res PVG 1190457 7.86 + 0.68
Pan Am Silver PAA 888062 14.29 + 0.6
Virginia Mines VGQ 38802 12.04 + 0.43
Horizns G Bear HGD 1072288 15.31 + 0.42
Major Drilling MDI 515611 8.54 + 0.38
Agrium AGU 3804414 99.61 + 0.32
Thompson Creek TCM 3680746 3.15 + 0.29
Franco-Nevada FNV 1048964 52.29 - 1.25
Royal Gold RGL 16522 69.45 - 0.81
Silver Std Res SSO 1226482 8.37 - 0.8
Barrick Gold ABX 8559177 18.06 - 0.73
Cameco Corp CCO 4787149 21.44 - 0.71
Altius Mnrls ALS 225909 13.4 - 0.6
Labdr I-Ore Ro LIF 908488 29.25 - 0.47
Seabridge Gold SEA 39925 7.92 - 0.37
Alamos Gold AGI 1340501 9.29 - 0.37
North Am En Pa NOA 329288 8.15 - 0.34


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Related News
Gold majors lose their shine
US stocks soar, Oct. 27-31
TSX clings to tiny gain, Oct. 14-17
Related Press Releases
Hudbay to Attend Upcoming December Investor Conferences
First Nickel Reports Financial and Operating Results for the Three and Nine Month Periods Ended September 30, 2014
Balmoral Announces Closing of $10.0 Million Flow-Through Private Placement
 



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