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TABLE OF CONTENTS Oct 14 - 20, 2013 Volume 99 Number 35 - 0 comments

U.S. markets, Sept. 30-Oct.4

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2013-10-09

The partial shutdown of the U.S. government did not affect markets the way many prognosticators had predicted. The period saw Democrats and Republicans fail to reach a budget deal, but the Dow Jones Industrial Average was only down 177 points to 15,072 points, while the S&P 500 Index was up 8 points to 1,690 points, and the Nasdaq was up 70 points to 3,807 points.

The government shutdown had a bearish impact on gold, as the yellow metal fell below US$1,300 per oz. The move was attributed to a political impasse where investors lost faith in the U.S. political system, and sold U.S. bonds. As a result, bond prices sunk and real yields moved higher. Gold prices often move inverse to real yields.  

Some miners outside of the gold sector, however, performed well over the period. In particular, U.S. Silica Holdings continued its run, as Wall Street analysts upgraded their price targets for the company that mines and produces industrial-grade silica. The company’s shares were up 13% to $28.31 for the period — a far cry from the US$16 they traded at early in the year. Analysts at BB&T Corp., Morgan Stanley, Sidoti & Co. and Howard Weil all either initiated coverage or upgraded their ratings of the company’s equity. U.S. Silica supplies silica sand for the oil and gas, wind, solar and geothermal energy industries, as well for paint and electronics. Its most recent financial statements showed earnings of 38¢ per share from US$129.8 million in revenue for the quarter.

Platinum Group Metals also enjoyed a strong period thanks to securing prospecting rights from the South African government. The company’s shares jumped 19% to US$1.24 for the period. With the permits, the company can begin exploring the Waterberg extension. The area lies adjacent and north of its recently discovered Waterberg platinum and palladium deposit, which has 167 million tonnes of inferred ore grading 3.26 grams platinum group metals. Seven drills have been mobilized to test the possible extension zone.

U.S. most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Alcoa* AA 127597 8.2 7.82 7.96 - 0.24
Barrick Gold* ABX 59961 18.82 17.85 18.03 - 0.5
Freeport McMo* FCX 58019 34.05 32.33 33.78 + 0.36
Arch Coal* ACI 53893 4.25 3.95 4.06 - 0.19
Kinross Gold* KGC 52316 5.06 4.73 4.81 - 0.18
Newmont Mng* NEM 43941 28.39 26.57 26.8 - 1.18
Alpha Nat Res* ANR 42584 6.05 5.75 5.93 - 0.15
Molycorp* MCP 40618 7.59 6.46 7.32 + 0.59
Goldcorp* GG 34630 26.43 24.92 25 - 0.76
Potash C Sask* POT 34448 33.21 31.17 32.91 + 1.3

U.S. greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Entree Gold* EGI 1193 0.41 0.27 0.39 + 41.3
Platinum Gp M* PLG 147 1.24 1 1.24 + 19.2
US Silica Hld* SLCA 1196 29.06 24.54 28.31 + 13.4
Northern Dyn* NAK 2389 1.93 1.45 1.61 + 11
Atlatsa Res* ATL 276 0.42 0.35 0.42 + 10.2
Loncor Res* LON 45 0.18 0.14 0.17 + 9.6
Molycorp* MCP 40618 7.59 6.46 7.32 + 8.7
Consol Energy* CNX 13313 36.58 32.96 36.33 + 8.4
Gold Std Vnt* GSV 549 0.68 0.53 0.67 + 8
Uranerz Energ* URZ 1493 1.04 0.9 0.97 + 7.7
Cardero Res* CDY 1625 0.17 0.13 0.13 - 22.4
Gold Resource* GORO 4288 6.79 5.41 5.5 - 18.2
Rio Alto Mng* RIOM 25 2.03 1.73 1.73 - 15.2
Alexco Res* AXU 1020 1.45 1.25 1.28 - 14.6
Quaterra Res* QMM 43 0.16 0.13 0.13 - 13.3
Timberline Rs* TLR 560 0.21 0.18 0.18 - 12.4
Allied Nevada* ANV 2166 4.29 3.74 3.84 - 10.7
Tanz Roy Exp* TRX 2644 2.68 2.3 2.35 - 10.3
Seabridge Gld* SA 1874 10.64 9.5 9.57 - 9.8
Timmins Gold* TGD 785 1.7 1.51 1.56 - 9.8

U.S. greatest value change


Company Symbol Change Close Change
US Silica Hld* SLCA 1195740 28.31 + 3.36
Consol Energy* CNX 13312505 36.33 + 2.83
Mosaic* MOS 33300659 46.1 + 2.67
Agrium* AGU 884709 87.32 + 2.4
Potash C Sask* POT 34448116 32.91 + 1.3
Alliance Rs P* ARLP 299205 75.85 + 1.12
Cabot Corp* CBT 2228174 43.33 + 0.8
SunCoke Engy* SXC 584703 17.45 + 0.75
Walter Energy* WLT 3996351 14.89 + 0.7
Molycorp* MCP 40618089 7.32 + 0.59
Randgold Res* GOLD 3141967 69.72 - 2.01
Franco-Nevada* FNV 2866301 43.07 - 1.92
BHP Billi-BBL* BBL 2488009 58.41 - 1.25
Gold Resource* GORO 4288272 5.5 - 1.23
Central GoldT* GTU 256566 45.39 - 1.2
Silver Wheatn* SLW 20685730 23.74 - 1.19
Newmont Mng* NEM 43940755 26.8 - 1.18
Hi-Crush Part* HCLP 71142 25.92 - 1.06
Seabridge Gld* SA 1874156 9.57 - 1.05
Soc Quim&M Ch* SQM 3968156 30.08 - 0.93


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Related News
Platinum Group boosts resources at Waterberg
Platinum Group unveils Waterberg PEA
Platinum Group Metals raises $175M
Related Press Releases
Platinum Group Metals Updates the Waterberg Joint Venture and Waterberg Extension Projects
Platinum Group Announces Favourable Award on All Matters in Arbitration with Wesizwe Platinum Limited
Platinum Group Metals Files Report on Revised and Updated Mineral Resource Estimate for the Waterberg Joint Venture and Waterberg Extension Projects
 

Companies in This Story

Platinum Group Metals Ltd



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