Resource stocks mixed as broad market coasts
The Toronto Stock Exchange slipped a mild 6.81 points over the May 30-June 5 report period to end the week at 8,258.82.The yellow metal sank US$6.70 to land at a London fix of US$266.95 per oz. on the…
Sherritt International Corporation
Gold rally fizzles (sigh)
Gold bugs had little time to celebrate during the May 23-29 report period, as the mid-May gold rally quickly fizzled after a few exhilarating days. Coming off an earlier peak exceeding US$290 per oz.,…
Gold prices move up to new range
Gold bugs enjoyed an invigorating rally in the yellow metal over the May 16-22 report period, as the London gold price broke out of a long-held, sub-US$270-per-oz. range to spend a few hours above US$…
Gold companies show signs of life after auction
Gold staged a bit of a rally during the May 9-15 report period, as the yellow metal climbed US$3.90 to trade at US$269.10 per oz. in London on the morning of May 16.Amid the price rise, the Bank of En…
Noranda reworks Lomas Bayas deal with Falco
The biggest news among Canada’s base metal producers over the May 2-8 report period was the revelation by Noranda that it is shuffling off its stake in the proposed purchase of the Lomas Bayas open-pi…
Golds picking up in quiet market
The report period ended May 1 was a quiet one for the Toronto Stock Exchange, with the TSE 300 composite index up fractionally at 7,946.33 points for a gain of 54.66 points, or 0.7% of value.What was …
Final bells ring on takeovers
Sherritt International (S-T) and the Labrador Iron Ore Royalty Income Fund (LIF.UN-T) emerged victorious in the industry’s two most recent takeover battles.Sherritt and its partner, the Ontario Teache…
No white knights in Labrador and Luscar fights
In two quiet corners of the mining industry — the iron ore and coal businesses — takeover battles for income funds have enlivened the profitable, but otherwise dry, business of cashing royalty chequ…
Anglo seeks to boot Anaconda management
Anaconda Nickel’s controlling shareholder, Anglo American (AAUK-Q), has finally blown a fuse over the slow progress of Anaconda’s Murrin Murrin nickel project in Western Australia, and is seeking a sh…
TSE wipes brow after recent debacle
Easing its downward spiral of late, the broad market fell less than a point over the March 21-27 report period, to finish the week at 7,751.33.Even gold has regained its composure, trading unchanged a…
Sherritt makes bid for Luscar coal fund
In partnership with the Ontario Teachers’ Pension Plan, a unit of Sherritt International (S-T) has made an offer to acquire all of the outstanding shares of the Luscar Coal Income Fund (LUS-T).The tot…
Golds enjoy relief from usual slump
The plunging technology stocks led the Toronto Stock Exchange downward over the report period Feb. 21-27, even as most other sectors moved higher. The TSE 300 composite index lost 170.99 points, or 2….