TSX Venture Exchange, June 17-21
The S&P/TSX Venture Composite Index continued a three-week slide, dropping 4%, or 37.78 points, before closing out the week at 895.79.
News
Editorial: Building glass mines
Canada’s extractive industries got some high-profile international attention in mid-June. Prime Minister Stephen Harper used the lead-up to the G8 summit in London to announce that the federal government intends to establish new mandatory…
Metals, mining and money markets
Spot pricesCourtesy of ScotiabankTuesday, June 25, 2013 Precious MetalsPrice…
Mega Precious Metals adds ounces at Monument Bay
VANCOUVER — A lot has changed over the past 18 months for junior explorer Mega Precious Metals (MGP-V) and its Monument Bay gold-tungsten project located 570 km northeast of Winnipeg, Man. Though gold markets have taken a beating, Mega…
Barrick turns to layoffs to cut costs
VANCOUVER – With the price of gold down more than 20% this year, its share price down more than 50% in eight months, and setbacks piling ups at its operating and developing mines, Barrick Gold (ABX-T, ABX-N) is laying off 30% of its…
Lake Shore soars 56% on expected strong Q2
Lake Shore Gold (LSG-T, LSG-X), one of the weakest performers on the Toronto stock exchange last week losing over 45%, soared 56% when the company said it expects strong production and lower costs in the second quarter.
Open-pit mining resumes at Grasberg
The Indonesian government has given the go-ahead for Freeport-McMoRan Copper & Gold’s (FCX-N) to resume open-pit mining at its Grasberg complex after suspending operations there following the death of 28 workers in May.
Formation shareholders snub Dundee’s dissident efforts
VANCOUVER — Shareholders and a Supreme Court judge stymied an attempt by 17% shareholder Dundee (DC-T) to install new management and block an asset sale at Formation Metals (FCO-T), after a disagreement over how the cobalt-focused company…
Newstrike hits Ana Paula at depth
VANCOUVER — Vancouver-based explorer Newstrike Capital (NES-V) remains hard at work at its wholly-owned Ana Paula gold-silver project in Guerrero State, Mexico. After releasing Ana Paula’s maiden resource in late March — which…
Short Position Report
Short positions outstanding at June 15/13 (with changes from May 31/13).
Avanti locks down off-take agreement with ThyssenKrupp
VANCOUVER — Pitching a large-scale molybdenum mine is likely not an easy task in today’s market, but Vancouver-based junior Avanti Mining (AVT-V) has proven that there is still a global demand for the industrial metal. The company…
Ceasefire brings hope to Great Quest in Mali
For over a year, Great Quest Metals’ (GQ-V) Tilemsi phosphate project in Mali has been in limbo, waiting for peace to return to the remote northern corner of the troubled West African nation.