FREE ARTICLE PREVIEW: You are enjoying a free sample of exclusive
subscriber content. There is a limit of three free articles per week.

TABLE OF CONTENTS Aug 25 - 31, 2014 Volume 100 Number 28 - 0 comments

US stocks climb, Aug. 11-15

TEXT SIZE bigger text smaller text
2014-08-20

It was a good week for U.S. equities. The Dow Jones Industrial Average advanced 109 points to 16,662.91, while the broader S&P 500 Index jumped 23 points to 1,955.06. The tech-heavy Nasdaq Composite Index added 94 points to 4,464.93.

China’s SinoCoking Coal and Coke Chemical Industries rose nearly 17% on no news to close at US$2.29 after reaching a 52-week high of US$2.38. In mid-July, it started a 60-day testing and calibration phase at its green facility, which will convert carbon dioxide into a clean-burning synthetic gas. At full capacity, the facility should generate 25,000 cubic metres of syngas per hour. It expects syngas sales to generate up to 50% more gross profit margin than any other SinoCoking product. The firm intends to change its name to Clean Synthetic Technologies Corp., pending shareholder approval. 

Seabridge Gold rose 13% to US$10.68 after reporting its second-quarter financials. The junior posted a $3.8-million net loss, or 8¢ per share, down from a net loss of $5.7 million, or 13¢ per share, a year ago. During the quarter, it spent $6.3 million on its projects, namely the KSM gold–copper project in B.C. and the Courageous Lake gold project in the Northwest Territories, compared to $8.2 million during the same period last year. It ended June with a working capital of $18.7 million.

Junior gold miner Banro fell nearly 21% to a new 52-week low of US18¢, after reporting a second-quarter loss of US$3 million, or negative US1¢ per share, relatively in line with the loss experienced in the same period last year. It ended the quarter with US6.5 million in cash and equivalents.

On Aug. 18, Banro revealed a financing plan to increase its liquidity and reach full production capacity at Namoya, its second gold mine in the Democratic Republic of the Congo, after Twangiza.

Under the plan it closed a US$35.5-million liquidity backstop facility, and signed a memorandum of understanding with a private gold group for a US$41-million gold-forward sale and a US$80-million gold-streaming deal. Both should close in October 2014. Banro also named Kevin Jennings as its new CFO, effective Sept. 1.

U.S. most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Gold Fields* GFI 59287 4.28 4.04 4.16 + 0.03
Alcoa* AA 51726 16.41 16.02 16.11 + 0.01
Alpha Nat Res* ANR 40883 4.07 3.66 3.85 + 0.09
Barrick Gold* ABX 37997 19.36 18.56 18.95 + 0.26
Kinross Gold* KGC 37051 4.16 3.87 4.02 + 0.14
Freeport McMo* FCX 33647 37.07 35.7 36.1 - 0.39
Molycorp* MCP 30262 2.36 2 2.04 - 0.32
Newmont Mng* NEM 27415 27.4 26.3 26.89 + 0.5
Cliffs Nat Rs* CLF 24070 18.41 16.33 16.77 - 0.59
Arch Coal* ACI 24031 3.25 3.07 3.14 + 0.03

U.S. greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
SinoCoking Cl* SCOK 937 2.38 1.98 2.29 + 16.2
Goldfield* GV 2353 1.95 1.52 1.77 + 13.4
Seabridge Gld* SA 1415 11.63 9.55 10.86 + 13
Richmont Mine* RIC 3478 2.62 2.06 2.41 + 12
NovaCopper* NCQ 1070 1.14 1.01 1.11 + 8.8
Rio Alto Mng* RIOM 176 2.77 2.52 2.73 + 8.7
Midway Gold* MDW 1087 1 0.88 0.97 + 8.1
Iamgold* IAG 4736 4.09 3.66 4.03 + 7.7
General Moly* GMO 624 1.02 0.93 1.02 + 7.3
Gold Resource* GORO 4251 6.24 5.5 6.14 + 6.7
Banro* BAA 9596 0.24 0.18 0.18 - 20.6
Molycorp* MCP 30262 2.36 2 2.04 - 13.5
Dejour Enterp* DEJ 1256 0.33 0.26 0.26 - 12.8
First Majesti* AG 5463 11.22 9.66 9.86 - 8.4
Fortuna Silvr* FSM 1674 5.9 5 5.15 - 8
Endeavr Silve* EXK 1195 6.3 5.53 5.71 - 6.8
Northern Dyn* NAK 485 0.8 0.73 0.73 - 6.5
Tahoe Res* TAHO 184 27.55 25.48 25.74 - 5.3
Entree Gold* EGI 449 0.29 0.25 0.28 - 5.1
Pan Am Silver* PAAS 6057 15.34 14.01 14.22 - 5

U.S. greatest value change


Company Symbol Change Close Change
US Silica Hld* SLCA 1034221 60.56 + 1.72
Agrium* AGU 491571 92.06 + 1.62
BHP Billi-BBL* BBL 2699793 69.2 + 1.52
BHP Billi-BHP* BHP 7146228 72.45 + 1.41
Cameco Corp* CCJ 6713731 20.56 + 1.3
Seabridge Gld* SA 1414546 10.86 + 1.25
Compass Mnls* CMP 164352 87.26 + 1.2
OM Group* OMG 881643 25.81 + 1.13
Alliance Rs P* ARLP 642036 48.11 + 1.06
Agnico-Eagle* AEM 8451812 39.47 + 0.99
Tahoe Res* TAHO 183851 25.74 - 1.44
Hi-Crush Part* HCLP 1356445 61.87 - 1.38
Silver Wheatn* SLW 18075313 25.61 - 0.96
First Majesti* AG 5463032 9.86 - 0.91
Pan Am Silver* PAAS 6057429 14.22 - 0.76
Cliffs Nat Rs* CLF 24070122 16.77 - 0.59
Fortuna Silvr* FSM 1674123 5.15 - 0.45
AngloGold Ash* AU 10033912 17.37 - 0.43
Endeavr Silve* EXK 1194514 5.71 - 0.42
Consol Energy* CNX 8464651 39.7 - 0.4


© 1915 - 2014 The Northern Miner. All Rights Reserved.

Related News
TSX clings to tiny gain, Oct. 14-17
Volatility hits US stocks, Oct. 13-17
Banro finds 'relief' in new financing plan
Related Press Releases
Seabridge Gold Expects Substantial Expansion of Deep Kerr Resource at KSM
Seabridge Gold Files Third Quarter Report to Shareholders and its Financial Statements and MD&A
Banro Announces Q3 2014 Financial Results
 



Horizontal ruler
Horizontal Ruler

Post A Comment

Disclaimer
Note: By submitting your comments you acknowledge that Northern Miner has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that due to the volume of e-mails we receive, not all comments will be published and those that are published will not be edited. However, all will be carefully read, considered and appreciated.

Your Name (this will appear with your post) *

Email Address (will not be published) *

Comments *



* mandatory fields