The Dec. 16-18 trading session may have been short, but it was full of surprises. A technical glitch linked to data feeds closed the TSX all day on Wed. Dec. 17 — the same day the Organization of the Petroleum Exporting Countries promised to remove 2.2 million barrels per day from the marketplace to stop the slide in oil prices. And in a television interview, Canadian Prime Minister Stephen Harper conceded his government would likely run a $30-billion deficit next year to pay for a stimulus package.
The S&P/TSX composite index fell 36.4 points, or 0.43%, to finish the abbreviated trading session at 8,425.35. (Since the beginning of the year, the index has plunged 39%.)
The Capped Metals and Mining index, meanwhile, fell 6.87 points, or 3%, to close the trading session at 224.36, while the Global Gold index dropped 12.74 points, or 4.4%, to 273.94.
Potash Corp. of Saskatchewan posted the biggest gain, despite an announcement on Dec. 18 that it was cutting its full-year earnings outlook from its previous guidance by 10%, or $10.75 per share.
In the same press release, the company said it still expects its fourth-quarter earnings to be the third highest in its history. Shares in the world’s biggest fertilizer company rose $4.41 to close the trading session at $90 apiece. Potash producer Agrium also fared well, rising $1.16 to $39 per share.
On the gold front, Central Gold-Trust, which primarily invests in long-term holdings of gold bullion, climbed $3.19 per share to $45.30. Seabridge Gold gained $1.86 to $15.15 on news that it had completed the sale of its 100%-owned Noche Buena gold project in Sonora, Mexico, to a joint venture between Fresnillo and Newmont Mining.
At closing, Seabridge was paid US$25 million in cash, with another US$5 million due when commercial production begins. A 1.5% net smelter royalty return is payable on all production sold for US$800 per oz. gold or greater. The cash will allow Seabridge to advance its core projects (KSM and Courageous Lake) towards feasibility without share dilution.
Finally, Teal Exploration & Mining topped the charts with the greatest percentage change over the period. Its shares soared 300%, rising $2.10 per share to close at $2.80, on news of a possible takeover by a 50-50 joint venture between African Rainbow Minerals, which currently owns about 65% of Teal, and Vale.
The offer for Teal represents a 400% premium over the company’s Dec. 12 closing price of 60¢ per share on the Toronto Stock Exchange and an 831% premium over the 30-day volume weighted average price of Teal shares.
Teal has a suite of projects in Africa, including copper deposits in Zambia, gold deposits in Namibia and copper-cobalt deposits in the Democratic Republic of the Congo.
TSX most active issues | |||||
VOLUME | WEEK | ||||
(000s) | HIGH | LOW | CLOSE | CHANGE | |
Uranium One UUU | 23995 | 1.63 | 1.31 | 1.45 | + 0.03 |
Yamana Gold YRI | 19146 | 8.84 | 7.66 | 7.84 | -0.24 |
Teck B TCKB | 18012 | 6.42 | 5.24 | 5.38 | -0.27 |
Goldcorp G | 14435 | 39.55 | 33.50 | 34.49 | -1.89 |
Kinross Gold K | 13350 | 22.38 | 19.37 | 19.68 | -1.07 |
Barrick Gold ABX | 13210 | 43.00 | 38.95 | 40.50 | -0.14 |
Eldorado Gold ELD | 12814 | 9.40 | 7.79 | 7.96 | -0.22 |
Blue Note Mng BN | 11384 | 0.03 | 0.02 | 0.02 | 0.00 |
HoriznsGBull HGU | 10946 | 12.78 | 10.12 | 10.60 | -0.99 |
Thompson CreekTCM | 9145 | 4.55 | 4.08 | 4.36 | -0.03 |
TSX greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Teal Expl & Mg | TL | 838 | 2.90 | 2.76 | 2.80 | +300.0 |
Ursa Major Min | UMJ | 18 | 0.06 | 0.04 | 0.06 | +100.0 |
Zazu Metals | ZAZ | 190 | 0.09 | 0.06 | 0.07 | + 75.0 |
Dynasty Met&Mn | DMM | 243 | 2.50 | 1.31 | 2.25 | + 53.0 |
Faircourt Gold | FGX | 18 | 8.52 | 5.70 | 8.52 | + 50.5 |
Cancor Mines | KCR | 345 | 0.03 | 0.02 | 0.03 | + 50.0 |
Copper Mesa | CUX | 326 | 0.03 | 0.01 | 0.03 | + 50.0 |
Anatolia Minls | ANO | 802 | 1.59 | 1.10 | 1.50 | + 42.8 |
Coeur d Alene | CDM | 425 | 1.20 | 0.80 | 1.20 | + 41.1 |
US Gold Can Ac | UXE | 77 | 1.10 | 0.75 | 1.00 | + 35.1 |
Avnel Gold | AVK | 33 | 0.04 | 0.02 | 0.03 | -40.0 |
Australn Solom | SGA | 1028 | 0.04 | 0.03 | 0.03 | -40.0 |
Golden Peaks | GL | 66 | 0.49 | 0.29 | 0.29 | -38.3 |
Coalcorp Mng | CCJ | 1516 | 0.25 | 0.14 | 0.16 | -36.0 |
South Am Gld&C | SAG | 1339 | 0.03 | 0.01 | 0.02 | -33.3 |
BRC DiamondCr | BCD | 109 | 0.30 | 0.24 | 0.24 | -29.4 |
Africo Res | ARL | 345 | 0.60 | 0.39 | 0.60 | -28.5 |
Mawson Res | MAW | 149 | 0.28 | 0.20 | 0.20 | -28.5 |
Opawica Expl | OPW | 124 | 0.14 | 0.10 | 0.10 | -28.5 |
BioteQ Env | BQE | 181 | 0.74 | 0.41 | 0.47 | -27.6 |
TSX greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
Potash Cp Sask | POT | 5989716 | 90.00 | + 4.41 |
Central Gold-T | GTU_U | 61971 | 45.30 | + 3.19 |
Faircourt Gold | FGX | 18446 | 8.52 | + 2.86 |
Teal Expl & Mg | TL | 838468 | 2.80 | + 2.10 |
Seabridge Gold | SEA | 21931 | 15.15 | + 1.86 |
Inmet Mining | IMN | 704434 | 18.67 | + 1.18 |
Agrium | AGU | 3985019 | 39.00 | + 1.16 |
Minefinders | MFL | 648264 | 5.78 | + 1.03 |
Silver Std Res | SSO | 287415 | 16.60 | + 1.02 |
Detour Gold | DGC | 538620 | 6.75 | + 0.95 |
Newmont Mng | NMC | 129295 | 44.99 | -1.90 |
Goldcorp | G | 14435443 | 34.49 | -1.89 |
Centerra Gold | CG | 1172682 | 3.55 | -1.20 |
Kinross Gold | K | 13349858 | 19.68 | -1.07 |
Horizns G Bull | HGU | 10945702 | 10.60 | -0.99 |
Altius Mnrls | ALS | 209784 | 4.58 | -0.88 |
Uranium Partic | U | 729470 | 6.74 | -0.81 |
Aurizon Mines | ARZ | 2852709 | 3.50 | -0.53 |
Cameco Corp | CCO | 4001407 | 19.80 | -0.45 |
IShCOMEXGTr | IGT | 18019 | 101.45 | -0.43 |
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