Market news: TSX Venture Exchange
The S&P/TSX Venture Composite Index lost 1.7%, or 20.16 points, en route to a 1,185.65-point close. Canadian stocks were weighed down by falling commodity prices, and further economic uncertainty in Europe.
2013
Market news: U.S. Markets
The S&P 500 Index rose for the seventh straight week with a small gain of 0.12% to 1,519.79. The last time the index enjoyed a seven-week run was between December 2010 and January 2011. The other indexes didn’t fare as well, however,…
Oyu Tolgoi’s feasibility study delayed
Turquoise Hill Resources (TRQ-T, TRQ-N) updated the market with good and bad news about its 66%-held Oyu Tolgoi copper-gold project in Mongolia’s South Gobi desert.
Lake Shore Gold sells Mexican assets to Revolution
Lake Shore Gold (LSG-T, LSG-X) is selling all of its Mexican properties to Revolution Resources (RV-T) so that it can keep its management team and finances focused on its Canadian assets.
Inca One helps artisanal miners – and itself
VANCOUVER — Artisanal mining has long been a part of Peru, but in the past 30 years, increasing numbers of people have turned to the rocks of their native land for income. Hundreds of thousands of rural Peruvians now scratch out a living…
HSBC’s sunny silver outlook
James Steel of HSBC in New York is raising his average price forecast for silver to US$33 per oz. for 2013 and to US$31 per oz. for 2014, up from US$32 per oz. and US$28 per oz. owing to improving industrial demand and investor appetite, and a…
San Gold sinks on higher costs, lower guidance
San Gold (SGR-T) shares tumbled 42% over three trading days after the gold miner missed market expectations with its 2012 production results, three-year guidance and updated reserve-and-resource estimate, all published on Feb. 8.
Coeur outbids First Majestic for Orko
Coeur d’Alene Mines (CDM-T, CDE-N) has trumped First Majestic Silver (FR-T, AG-N) in a contest to acquire Orko Silver (OK-V) for its coveted La Preciosa project, ranked as one of the world’s largest undeveloped silver deposits.
PMI, Keegan scrap merger, for now
VANCOUVER — Keegan Resources (KGN-T, KGN-X) and PMI Gold (PMV-T) have terminated a plan to merge after it became clear PMI shareholders were not going to approve the deal.
Editorial: Writedowns and the damage done
Another week, and we present yet another issue filled with talk of writedowns, dividend cuts and CEO exits among the majors. It’s been the theme of much of the producers’ side of the industry these past few months.
Beefing up Canada’s anti-corruption legislation
On Feb. 5, 2013, broad amendments to the Corruption of Foreign Public Officials Act (CFPOA) were tabled in the Canadian Senate through Bill S-14, which will effectively bring Canada’s anti-corruption regime more closely in-line with the…
Colombian violence hurts Continental despite high grades
VANCOUVER — Drills at Continental Gold’s (CNL-T) Buritica project in Colombia keep hitting new areas of high-grade gold and silver, but a resurgence of violence in the country following the end of a two-month FARC ceasefire is…