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TABLE OF CONTENTS Feb 10 - 16, 2014 Volume 99 Number 52 - 0 comments

U.S. markets, Jan. 27-31

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2014-02-05

A continued sell-off in emerging market currencies, worries about slowing growth in China and the U.S. Federal Reserve’s announcement that it would trim its monthly bond purchases by US$10 billion to US$65 billion, starting in February, had equities slipping further during the week. The Dow Jones Industrial Average slid 1.14% to 15,698.85 and the S&P 500 Index dipped 0.43% to 1,782.59. Spot gold touched US$1,270 per oz. mid-week, but closed at US$1,245.90 per oz. The Philadelphia Gold and Silver Index fell 2.13% to 90.71.

Newmont Mining shares fell US$3.28, or 13.1%, to US$21.60, and the company was the week’s fourth most actively traded stock, after disappointing guidance called for a 10% decline in gold production and 7% higher cash costs in 2014. Newmont expects consolidated 2014 gold-and-copper production between 5 million and 5.3 million oz., and 160,000 and 175,000 tonnes. All-in sustaining costs are pegged at US$1,075 to US$1,175 per gold oz. and US$2.75 to US$2.95 per lb. copper. The company added that it would use a US$1,300 per oz. gold price — down from US$1,400 per oz. — for asset-impairment testing and calculating its 2013 gold reserves. Last year Newmont’s attributable production came in at 5.1 million oz. gold and 144 million lb. copper.

Asanko Gold climbed 8.3% to US$1.76 per share. Shareholders of Asanko Gold and PMI Gold overwhelmingly approved Asanko acquiring PMI. Under the deal, each PMI shareholder receives 0.21 of an Asanko share for each PMI share held. Asanko’s Esaase gold project in Ghana is targeted to begin construction before April, with production of 200,000 oz. gold per year expected by the end of 2015, while PMI’s neighbouring Obotan project is set to produce another 200,000 oz. gold per year beginning in 2017.

Agrium shares were US$2.09 lower, finishing the week at US$87.10 apiece on no news, but weak nitrogen and phosphate prices dogged the stock. Nitrogen prices are down 11% and phosphate prices are down 15% from a year ago, according to an analysis by Raymond Goldie of Salman Partners.

U.S. most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Alcoa* AA 144626 12.23 11.37 11.51 + 0.07
Barrick Gold* ABX 79266 19.6 18.47 19.28 + 0.25
Cliffs Nat Rs* CLF 77292 21.9 18.72 19.32 - 0.01
Newmont Mng* NEM 72782 25.22 21.27 21.6 - 3.28
Freeport McMo* FCX 58591 33.06 31.93 32.41 - 0.36
Peabody Enrgy* BTU 51271 17.51 16.35 17.05 + 0.18
Alpha Nat Res* ANR 49411 5.98 5.58 5.68 - 0.15
Arch Coal* ACI 48752 4.4 4 4.24 + 0.13
Goldcorp* GG 46089 25.06 23.1 24.89 + 0.84
Potash C Sask* POT 40821 32.4 30.09 31.32 - 0.42

U.S. greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Dejour Enterp* DEJ 912 0.2 0.14 0.2 + 30.8
Minco Gold* MGH 1560 0.43 0.31 0.42 + 16.6
Augusta Res* AZC 173 1.91 1.56 1.8 + 13.9
Asanko Gold* AKG 199 1.76 1.56 1.76 + 8.6
Avino Silver* ASM 579 1.72 1.4 1.68 + 8.3
Alliance Rs P* ARLP 601 83.3 76 82.4 + 6.9
Denison Mines* DNN 1365 1.43 1.3 1.37 + 6.2
SunCoke Engy* SXC 585 22.27 19.92 22.18 + 5.5
Tasman Mtls* TAS 473 1.18 1.01 1.14 + 5.5
Vale* VALE 27051 13.79 12.69 13.6 + 5.4
North Am Pall* PAL 30500 0.71 0.38 0.42 - 33.5
Quaterra Res* QMM 330 0.08 0.04 0.06 - 21.4
Western Coppr* WRN 342 0.72 0.6 0.6 - 17.3
Loncor Res* LON 121 0.18 0.11 0.11 - 13.9
Newmont Mng* NEM 72782 25.22 21.27 21.6 - 13.1
Banro* BAA 3993 0.59 0.5 0.51 - 12.5
Golden Star* GSS 11757 0.7 0.58 0.61 - 11.9
Almaden Mnls* AAU 838 1.55 1.26 1.36 - 9.3
Timberline Rs* TLR 861 0.23 0.19 0.2 - 9.3
Gold Resource* GORO 2175 5.06 4.59 4.61 - 9

U.S. greatest value change


Company Symbol Change Close Change
Alliance Rs P* ARLP 600698 82.4 + 5.35
Rio Tinto* RIO 2238956 53.15 + 1.97
Franco-Nevada* FNV 4190200 48.45 + 1.4
SunCoke Engy* SXC 585273 22.18 + 1.16
Cabot Corp* CBT 1889847 48.67 + 1.03
MDU Res* MDU 3563308 32.04 + 0.98
BHP Billi-BHP* BHP 8922902 63.95 + 0.96
Goldcorp* GG 46088573 24.89 + 0.84
PVR Partners* PVR 319871 28.04 + 0.75
Vale* VALE 27050505 13.6 + 0.7
Newmont Mng* NEM 72781913 21.6 - 3.28
OM Group* OMG 728995 32.34 - 2.44
Agrium* AGU 748002 87.1 - 2.09
Compass Mnls* CMP 285645 78.62 - 1.7
Soc Quim&M Ch* SQM 3188205 24.91 - 1.49
Mesabi Trust* MSB 325099 20.09 - 1.34
Randgold Res* GOLD 3499755 68.9 - 1.21
Intrepid Pots* IPI 1045714 14.7 - 1.18
Minas Buenavn* BVN 9068222 12.4 - 0.91
Central GoldT* GTU 206925 43.65 - 0.85


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