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TABLE OF CONTENTS Apr 28 - May 4, 2014 Volume 100 Number 11 - 0 comments

U.S. markets make up for previous losses, April 14-17

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2014-04-23

U.S. markets bounced back over the holiday shortened period after two straight periods of giving up ground. A modest surprise to the upside in China’s growth domestic product drove gains for the Dow Jones Industrial Average, which was up 380 points to 16,408.54 points. The S&P 500 Index spiked 46 points to 1,864.85 points and the Nasdaq gave back 57 points to land at 4,095.52 points.

The big news in the mining sector wasn’t really news at all — just rumours. But the whiff of a possible merger between gold giants Barrick Gold and Newmont Mining made the companies some of the sector’s most actively traded stocks. Barrick shares came in at 27.9 million, with its stock off 35¢ to US$17.98; and Newmont shares were off 12¢ to US$23.54, on 17.3 million shares traded. While the deal was expected as early as April 22, talks between the world’s number-one and number-two gold producers were said to have broken down over which assets would be put into a spin-off company. Lower gold prices have forced miners to consider consolidation as a way to unlock synergies and drive down costs. The miners have neighbouring operations in Nevada, and operations in proximity in both Peru and Australia. Newmont has generated close to US$600 million from selling assets since mid-2013, while Barrick has done more than US$1 billion in divestitures. Combined, the two companies’ market cap would top US$30 billion.

Fellow gold miners Yamana Gold and Agnico Eagle Mines went further down the mergers and acquisitions road as they reached an agreement to buy Osisko Mining for US$3.5 billion, beating out a previous hostile offer from Goldcorp.

Rumours were also behind Mechel’s strong market performance. Word that China could help finance the steel and coal producer’s Elga coal project in Russia had Mechel’s stock climbing 11% to US$1.99 for the period. Mechel has US$9.4 billion in debt but is seeking to develop Elga, which has one of the biggest coking coal reserves in the world, but could cost $2 billion to $4 billion to build. The deal will likely see China supply equipment in exchange for coal.

U.S. most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Alcoa* AA 107435 13.68 12.5 13.56 + 0.83
Barrick Gold* ABX 27980 19 17.95 17.98 - 0.35
Alpha Nat Res* ANR 26821 4.51 4.21 4.4 - 0.03
Kinross Gold* KGC 25747 4.26 4.04 4.07 - 0.07
Freeport McMo* FCX 22273 33.36 32.65 33.01 + 0.74
Arch Coal* ACI 20040 5.09 4.79 5.01 + 0.09
Peabody Enrgy* BTU 19539 17.27 16.45 16.71 - 0.12
Newmont Mng* NEM 17316 24.74 23.5 23.54 - 0.12
Goldcorp* GG 15211 24.63 23.6 23.6 + 0.1
North Am Pall* PAL 14993 0.34 0.31 0.31 + 0.01

U.S. greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Tasman Mtls* TAS 533 1.45 1.23 1.4 + 19.6
Turquoise HIl* TRQ 2697 3.88 3.49 3.84 + 12.2
General Moly* GMO 2003 1.12 0.9 1.11 + 12.1
Mechel* MTL 501 2 1.76 1.99 + 10.5
Uranium Res* URRE 584 3.04 2.77 2.98 + 7.9
Mines Managem* MGN 118 1.23 1.1 1.13 + 7.6
Uranerz Energ* URZ 817 1.66 1.54 1.61 + 6.6
Alcoa* AA 107435 13.68 12.5 13.56 + 6.5
US Silica Hld* SLCA 686 42.45 38.72 42.26 + 5.1
New Gold* NGD 6929 5.16 4.93 4.99 + 4.8
Loncor Res* LON 23 0.13 0.1 0.1 - 9
McEwen Mng* MUX 4604 2.5 2.25 2.26 - 7.7
Exeter Res* XRA 123 0.67 0.59 0.6 - 7.4
Timmins Gold* TGD 749 1.46 1.27 1.28 - 7.2
Gold Std Vnt* GSV 195 0.59 0.51 0.53 - 6.5
Solitario Ex&* XPL 178 1.29 1.15 1.15 - 6.5
Tanz Roy Exp* TRX 531 2.41 2.05 2.07 - 6.3
Vista Gold* VGZ 933 0.55 0.47 0.48 - 6.2
Mag Silver* MVG 12 7.46 6.55 6.55 - 6
Primero Mng* PPP 319 6.72 6.06 6.07 - 5.8

U.S. greatest value change


Company Symbol Change Close Change
Randgold Res* GOLD 1948989 78.7 + 2.52
US Silica Hld* SLCA 685654 42.26 + 2.07
BHP Billi-BHP* BHP 4331354 71.15 + 1.92
BHP Billi-BBL* BBL 1269893 64.37 + 1.89
Cabot Corp* CBT 523164 59.11 + 1.59
Compass Mnls* CMP 159690 85.84 + 1.5
Consol Energy* CNX 5228555 41.81 + 1.34
Hi-Crush Part* HCLP 142651 39.39 + 1.25
Alliance Rs P* ARLP 208828 84.6 + 1.2
Soc Quim&M Ch* SQM 1460581 32.32 + 1.15
Agnico-Eagle* AEM 11485309 28.39 - 1.51
Cliffs Nat Rs* CLF 14710971 18.65 - 0.69
Cloud Peak En* CLD 820590 20.75 - 0.57
Central GoldT* GTU 73559 45 - 0.42
Mag Silver* MVG 12173 6.55 - 0.42
Tahoe Res* TAHO 73524 21 - 0.41
Yamana Gold* AUY 5612059 7.96 - 0.38
Primero Mng* PPP 318840 6.07 - 0.38
Barrick Gold* ABX 27979581 17.98 - 0.35
Pretium Res* PVG 1162118 5.48 - 0.32


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Related Press Releases
Goldcorp Announces Strong Second Quarter Financial Results
/C O R R E C T I O N from source -- Agnico Eagle Mines Limited/
Agnico Eagle reports second quarter 2014 results - Increased 2014 guidance on the back of continued strong operating results and completion of the Osisko acquisition
 



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