The TSX composite index slid 36.96 points over the Jan. 26-Feb. 1 trading period to close at 11,317.55 points, despite news that Canada’s largest trading partner experienced its fastest growth rate in six years.
China’s plan to cool its surging economy, which would lessen the country’s need for resources, is being blamed for the benchmark’s decline. This was evident in the Capped Metals and Mining index, which pulled down the TSX by 4.4%, or 45.99 points, to close at 998.97, a substantial loss for the second week running.
The Global Gold index barely moved, up less than a point, to close at 315.65 points.
Athabasca Potash was the top gainer over the period, up 30%, or $1.93, to $8.31 apiece after news it had agreed to be taken over by BHP Billiton for $341 million in cash. Athabasca’s Burr potash project is right next to BHP’s Jansen project, a proposed underground potash mine in east-central Saskatchewan. BHP will pay $8.35 for each Athabasca share, which is a decent premium for Athabasca shareholders — the 52-week trading range, before the offer fluctuated between $1.44 and $7.06.
Another takeover offer pushed up uranium-focused Khan Resources shares by about 28% to close at an even $1 per share over the period. The company announced on Feb. 1, that it had made and agreement with CNNC Overseas Uranium Holding, a Beijing-based Chinese nuclear energy corp., to be acquired for 96¢ per share. The CNNC offer contains far fewer conditions than a recent 65¢-per share bid by Atomredmetzoloto JSC. Khan’s main project is the Dornod uranium property in northeastern Mongolia, the site of a former Russian open-pit uranium mine.
Results of a 49.6-tonne sample of surface material at Peregrine Diamond’s Childliak project on Baffin Island, Nunavut did not please investors this time around. Peregrine shares plummeted by nearly 30% over the period to close at $1.53 per share, although the company did find that the CH-1 kimberlite returned 20.25 carats of commercial-sized diamonds larger than 0.85 mm for a diamond content of 0.41 carat per tonne.
Potash Corp. of Saskatchewan reported that annual earnings fell to $987.8 million in 2009, or $3.25 per share, compared to $3.5 billion, or $11.01 per share in 2008. Potash Corp.’s stock fell $6.06 to $110.07 apiece. However, the company says the fourth quarter marked the beginning of a recovery in global demand for fertilizers.
First Quantum Minerals’ share price fell $7.02 to $81.28. The company has restarted operations at its Bwana Mkubwa copper plant in Zambia after a shutdown related to a dispute with the Democratic Republic of the Congo, located next door. It also started international arbitration with its partners against Gcamines and the DRC related to its Kolwezi tailings exploitation permit in the DRC.
| TSX most active issues | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Eastern Platin | ELR | 35912 | 1.28 | 1.16 | 1.27 | + 0.02 |
| Yamana Gold | YRI | 24570 | 11.49 | 10.75 | 11.35 | + 0.20 |
| Teck B | TCKB | 22372 | 39.52 | 34.84 | 36.70 | -2.44 |
| Barrick Gold | ABX | 20515 | 38.98 | 37.03 | 38.80 | + 0.73 |
| Lundin Mng | LUN | 20426 | 4.62 | 4.12 | 4.47 | -0.22 |
| Breakwater Res | BWR | 19386 | 0.46 | 0.39 | 0.43 | 0.00 |
| Athabasca Pota | API | 18204 | 8.31 | 6.41 | 8.31 | + 1.93 |
| HoriznsGBull | HGU | 17505 | 11.16 | 9.77 | 10.74 | -0.04 |
| First Metals | FMA | 16995 | 0.03 | 0.02 | 0.02 | 0.00 |
| Vaaldiam Res | VAA | 16958 | 0.06 | 0.03 | 0.05 | + 0.03 |
| TSX greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Vaaldiam Res | VAA | 16958 | 0.06 | 0.03 | 0.05 | +150.0 |
| Crew Gold | CRU | 11544 | 0.19 | 0.12 | 0.15 | + 36.3 |
| Athabasca Pota | API | 18204 | 8.31 | 6.41 | 8.31 | + 30.2 |
| Khan Res | KRI | 5621 | 1.02 | 0.78 | 1.00 | + 28.2 |
| Freegold Vent | ITF | 48 | 0.10 | 0.09 | 0.10 | + 25.0 |
| Adanac Moly | AUA | 3468 | 0.14 | 0.09 | 0.12 | + 20.0 |
| Crystallex Int | KRY | 2868 | 0.34 | 0.26 | 0.34 | + 17.2 |
| Ventana Gold | VEN | 2672 | 7.44 | 6.14 | 7.36 | + 15.3 |
| Jinshan Gold M | JIN | 2569 | 2.88 | 2.40 | 2.86 | + 14.4 |
| Globex Mng | GMX | 128 | 1.65 | 1.10 | 1.50 | + 13.6 |
| Peregrine Diam | PGD | 4097 | 2.19 | 1.40 | 1.53 | -29.8 |
| VG Gold | VG | 1325 | 0.35 | 0.26 | 0.27 | -27.0 |
| Franconia Mnls | FRA | 1148 | 0.71 | 0.56 | 0.56 | -21.1 |
| PC Gold | PKL | 824 | 0.62 | 0.49 | 0.49 | -20.9 |
| DynacorGoldM | DNG | 424 | 0.22 | 0.16 | 0.17 | -19.0 |
| Powertech Uran | PWE | 1486 | 0.43 | 0.33 | 0.35 | -18.6 |
| Western Areas | WSA | 1706 | 4.60 | 3.62 | 3.75 | -18.4 |
| Tanz Roy Exp | TNX | 1310 | 4.93 | 3.67 | 4.19 | -15.6 |
| Linear Metals | LRM | 525 | 0.26 | 0.21 | 0.22 | -15.3 |
| Stornoway Diam | SWY | 4677 | 0.61 | 0.49 | 0.52 | -14.7 |
| TSX greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| Athabasca Pota | API | 18204194 | 8.31 | + 1.93 |
| IShCOMEXGTr | IGT | 23044 | 115.24 | + 1.42 |
| Newmont Mng | NMC | 36517 | 48.05 | + 1.41 |
| Agnico-Eagle | AEM | 3688910 | 57.22 | + 1.12 |
| Allied Nevada | ANV | 1884970 | 14.63 | + 1.10 |
| Ventana Gold | VEN | 2672396 | 7.36 | + 0.98 |
| Detour Gold | DGC | 4054834 | 15.72 | + 0.88 |
| Barrick Gold | ABX | 20515291 | 38.80 | + 0.73 |
| Europn Goldfld | EGU | 3187960 | 6.08 | + 0.62 |
| CentralGold-T | GTU_U | 12055 | 45.59 | + 0.57 |
| First Quantum | FM | 3506359 | 81.28 | -7.02 |
| PotashCpSask | POT | 5900522 | 110.07 | -6.06 |
| Teck B | TCKB | 22372141 | 36.70 | -2.44 |
| Teck A | TCKA | 23525 | 37.50 | -2.21 |
| SouthGobi Engy | SGQ | 1534535 | 16.18 | -1.89 |
| Quadra Mng | QUA | 4899485 | 15.06 | -1.37 |
| Golden Mnls | AUM | 34635 | 11.58 | -1.22 |
| Seabridge Gold | SEA | 197902 | 27.59 | -1.21 |
| Inmet Mining | IMN | 3537529 | 55.91 | -1.10 |
| Western Areas | WSA | 1705640 | 3.75 | -0.85 |
Be the first to comment on "Toronto Stock Exchange -Jan. 26-Feb. 1"