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TABLE OF CONTENTS Jan 13 - 19, 2014 Volume 99 Number 48 - 0 comments

U.S. markets, Dec. 27-Jan. 3

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2014-01-08

U.S. equities slipped during the holiday-shortened trading week, but ended 2013 on a positive note.

The Dow Jones Industrial Average dropped 8.42 points to 16,469.99, after gaining 26% in 2013. The S&P 500 Index fell 10.03 points to 1,831.37, but soared nearly 30% in the past year. The Nasdaq Composite Index tumbled 24.68 points to 4,131.91. The tech-heavy index rose 37% in 2013.

Gold also added some lustre, advancing US$25 per oz. to end the week at US$1,238. The spot gold price lost nearly 28% in 2013, causing many gold explorers and miners to announce major writedowns, project delays and staff reductions.

Analysts predict another tough year for gold in 2014. “We are cautious over the near to intermediate term on gold as the current economic climate is one of low inflation and likely tapering by the U.S. government — both of which are negative for gold,” said Rob Chang, an analyst at Cantor Fitzgerald.

On Jan. 3, departing U,S. Federal Reserve chairman Ben Bernanke said he expects stronger growth in the U.S. economy this year. The Fed is set to trim its monthly bond buying program from US$85 billion to US$75 billion starting in January

Banro was one of the week’s percentage winners, up 21.5% to US62¢. The boost came after the company said it started production at its Namoya gold mine in the Democratic Republic of the Congo on Dec. 30, 2013. Namoya — Banro’s second gold mine — is slated to reach commercial production before the end of June. The mine should help boost Banro’s annual gold production from less than 100,000 oz. a year to 225,000 oz.

Turquoise Hill Resources fell nearly 6% to US$3.06. The company reported its rights offering will expire on Jan. 7. Roughly 1 billion shares should be issued under the rights offering. Recently a class action lawsuit alleging Turquoise Hill misled its investors over a three and half year period ending Nov. 8, 2013, has been filed in a U.S. district court in New York City. The lawsuit claims the firm overstated its revenue, among other things. Turquoise Hill argues the complaint lacks merit and intends to defend itself.

U.S. most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Molycorp* MCP 72836 6.45 5.31 6.01 + 0.48
Alcoa* AA 59886 10.77 10.31 10.57 - 0.12
Barrick Gold* ABX 56977 18.52 16.9 18.15 + 0.69
Kinross Gold* KGC 50580 4.62 4.23 4.51 + 0.11
Newmont Mng* NEM 42551 24.29 22.63 23.92 + 0.33
Alpha Nat Res* ANR 39575 7.51 6.91 7.04 - 0.17
Arch Coal* ACI 37324 4.7 4.39 4.41 - 0.18
Goldcorp* GG 36110 22.86 20.76 22.29 + 0.7
Freeport McMo* FCX 33087 38.09 37.24 37.32 - 0.18
Cliffs Nat Rs* CLF 29612 27.13 24.93 25.05 - 1.48

U.S. greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Vista Gold* VGZ 4560 0.48 0.37 0.48 + 30.8
Banro* BAA 6360 0.65 0.5 0.62 + 21.5
Eurasian Mnls* EMXX 640 1.18 0.87 1.11 + 21
Richmont Mine* RIC 1592 1.19 0.99 1.19 + 20.2
Dejour Enterp* DEJ 581 0.13 0.11 0.13 + 17.7
Golden Star* GSS 12839 0.52 0.43 0.51 + 17.4
Northern Dyn* NAK 1358 1.48 1.22 1.43 + 17.2
Golden Mnls* AUMN 4060 0.69 0.45 0.57 + 17
Western Coppr* WRN 261 0.78 0.63 0.78 + 16.9
Intl Tower Hi* THM 294 0.49 0.37 0.44 + 15.7
Yanzhou Coal* YZC 1017 9.24 8.13 8.18 - 12.5
Vale* VALE 16701 15.36 14.22 14.33 - 5.9
Turquoise HIl* TRQ 4522 3.32 3.02 3.06 - 5.8
Cliffs Nat Rs* CLF 29612 27.13 24.93 25.05 - 5.5
Paramount Gld* PZG 4574 0.96 0.81 0.87 - 4.5
Walter Energy* WLT 4311 17.41 15.95 15.98 - 4.4
Augusta Res* AZC 66 1.45 1.35 1.35 - 4.2
Denison Mines* DNN 709 1.25 1.16 1.17 - 4.1
Revett Mnls* RVM 360 0.75 0.71 0.71 - 3.9
Arch Coal* ACI 37324 4.7 4.39 4.41 - 3.9

U.S. greatest value change


Company Symbol Change Close Change
Royal Gold* RGLD 3650370 49.05 + 2.54
CVR Partners* UAN 308451 17.01 + 0.88
Goldcorp* GG 36109779 22.29 + 0.7
Barrick Gold* ABX 56977113 18.15 + 0.69
Seabridge Gld* SA 1310903 8.04 + 0.66
Silver Wheatn* SLW 19294058 21.12 + 0.62
Hi-Crush Part* HCLP 74270 36.22 + 0.61
Stillwater Mg* SWC 5459546 12.84 + 0.55
Central GoldT* GTU 380840 43.41 + 0.54
Molycorp* MCP 72835941 6.01 + 0.48
Compass Mnls* CMP 211979 79.28 - 2.09
Cliffs Nat Rs* CLF 29611783 25.05 - 1.48
Yanzhou Coal* YZC 1017409 8.18 - 1.17
Vale* VALE 16701192 14.33 - 0.9
SunCoke Engy* SXC 472931 22.38 - 0.78
Walter Energy* WLT 4311175 15.98 - 0.74
BHP Billi-BBL* BBL 1207826 60.84 - 0.7
Mesabi Trust* MSB 256796 21.76 - 0.65
Cloud Peak En* CLD 456023 17.52 - 0.63
Consol Energy* CNX 5082170 37.81 - 0.58


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Properties in This Story

Namoya Mine



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