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TABLE OF CONTENTS Jul 21 - 27, 2014 Volume 100 Number 23 - 0 comments

US stocks drop, July 7-11

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2014-07-16

The S&P 500 Index dropped 18 points to 1,967.57, marking its worst week since April, as European economic uncertainty continued. The Dow Jones Industrial Average fell 124 points to 16,943.81, while the Nasdaq Composite Index gave back 70 points to end at 4,415.49. However, the spot gold price climbed US$18.50 to US$1,339 per oz.

Decent preliminary second-quarter costs pushed Lake Shore Gold up 29% to US$1.19. The firm reported quarterly and six-month cash-operating costs of US$570 and US$600 per oz. sold — a 37% and 36% improvement from the same periods last year. Lake Shore expects all-in sustaining costs per ounce of US$810 for the quarter and US$890 for the half year, both below its full-year guidance. 

Banro tumbled 29% to US34¢ after updating investors on its Twangiza and Namoya gold mines in the Democratic Republic of the Congo. While Twangiza experienced heavy rainfall in April, it delivered 21,431 oz. gold in the second quarter — an 11% improvement over the same quarter of 2013.

At Namoya, Banro noted the plant cannot run at design capacity because of problems processing large amounts of fine material. As a result, Banro intends to downsize the Namoya operation until it upgrades its processing facilities, which could be complete within the next year or so.

Banro has halved Namoya’s 2014 production guidance to 25,000 to 30,000 oz. and lowered Twangiza’s output to 90,000 to 100,000 oz., from 100,000 oz. due to a “wet start to the year.”

Aluminum giant Alcoa saw heavy trading during the week after releasing positive second-quarter results. Alcoa, which is the first S&P 500 company to report its quarterly earnings, posted an adjusted profit of US$216 million, or US$18¢, 50% more than analysts had expected. Alcoa advanced US99¢ to US$15.97, on 141 million shares traded.

Randgold Resources jumped US$3.03 to US$89.34, on no major news. In early July, the firm’s CEO Mark Bristow and his “Boyz on Bikes” team completed a fundraising ride, covering 12 African countries and 10,000 km in 26 days. The team raised $1.6 million from sponsors and supporters, beating its $1-million target.

U.S. most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Alcoa* AA 141107 15.98 14.56 15.97 + 0.99
Barrick Gold* ABX 75919 19.49 18.02 19.29 + 0.85
Molycorp* MCP 67582 2.44 1.61 2.13 - 0.31
Freeport McMo* FCX 58525 39.32 38.29 38.71 + 0.51
Kinross Gold* KGC 52686 4.47 4.14 4.36 + 0.11
Newmont Mng* NEM 38850 26.17 24.48 25.93 + 0.74
Alpha Nat Res* ANR 36383 3.74 3.21 3.31 - 0.45
Hecla Mining* HL 32368 3.52 3.26 3.45 - 0.02
Peabody Enrgy* BTU 31326 16.37 15.7 15.93 - 0.68
Silver Wheatn* SLW 27242 27.66 26.19 27.25 + 0.7

U.S. greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Lake Shore Gd* LSG 4165 1.19 1 1.19 + 29.3
Timberline Rs* TLR 440 0.15 0.12 0.15 + 20.8
Great Panther* GPL 6169 1.49 1.19 1.47 + 19.5
Golden Mnls* AUMN 5322 1.59 1.01 1.3 + 18.1
SinoCoking Cl* SCOK 2820 2.1 1.15 1.56 + 17.2
Tasman Mtls* TAS 815 1.21 0.95 1.18 + 15.6
Alexco Res* AXU 1980 1.44 1.18 1.38 + 15
Exeter Res* XRA 194 0.87 0.73 0.86 + 14
Endeavr Silve* EXK 1885 6.28 5.32 6.21 + 13.5
Rio Alto Mng* RIOM 313 2.62 2.24 2.53 + 10.4
Banro* BAA 11113 0.48 0.33 0.34 - 29.1
Quest Rare Mn* QRM 4062 0.33 0.23 0.24 - 15.5
Molycorp* MCP 67582 2.44 1.61 2.13 - 12.7
Mechel* MTL 931 2.16 1.68 1.84 - 12.3
Alpha Nat Res* ANR 36383 3.74 3.21 3.31 - 11.9
Arch Coal* ACI 26446 3.62 3.16 3.2 - 11.6
Ur-Energy* URG 846 1.29 1.1 1.13 - 11
Uranium Res* URRE 898 2.73 2.45 2.45 - 10.2
Cliffs Nat Rs* CLF 23220 16.28 14.65 14.73 - 10.2
Uranerz Energ* URZ 1405 1.55 1.35 1.35 - 9.4

U.S. greatest value change


Company Symbol Change Close Change
Randgold Res* GOLD 3671270 89.34 + 3.03
Agnico-Eagle* AEM 11145904 40.84 + 2.55
Royal Gold* RGLD 3960614 78.35 + 2.16
Franco-Nevada* FNV 3542826 58.19 + 1.56
AngloGold Ash* AU 12327705 18.53 + 1.38
Tahoe Res* TAHO 166732 27.02 + 1.11
Alcoa* AA 1.41E+08 15.97 + 0.99
Barrick Gold* ABX 75918734 19.29 + 0.85
Goldcorp* GG 24406861 28.42 + 0.75
Newmont Mng* NEM 38849523 25.93 + 0.74
Hi-Crush Part* HCLP 199284 59.5 - 3.69
Agrium* AGU 659279 88.32 - 3.08
OM Group* OMG 975689 31.04 - 2.51
Consol Energy* CNX 11213593 43.29 - 2.41
Alliance Rs P* ARLP 685756 44.77 - 1.93
Mosaic* MOS 16156874 47.27 - 1.92
Potash C Sask* POT 26440232 35.73 - 1.91
Cliffs Nat Rs* CLF 23220343 14.73 - 1.69
Rio Tinto* RIO 1449572 55.16 - 1.51
Cabot Corp* CBT 1236808 57.15 - 1.47


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Properties in This Story

Namoya Mine
Twangiza Mine



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