The S&P/TSX composite index was off slightly during the Sept. 22-28 reporting period, falling just over 100 points to 11,338.72 as investors continued to meet recent gains with caution.
Good news such as rising consumer confidence in Canada was tempered by a drop in consumer confidence south of the border, and gold’s recent run to over US$1,000 came off as the yellow metal fell to US$991 per oz.
That drop in price was reflected in the Global Gold index, which lost 13 points to 325 points. Agnico-Eagle Mines, Goldcorp and Franco-Nevada were the biggest decliners of the gold plays by dollar value.
The diversified miners fared better despite slumping base metal prices. The price for copper, aluminum, nickel, lead, zinc and tin all fell, if only slightly, but that failed to translate into bad news for the sector as the Capped Metals and Mining index gained 25 points to finish the period at 873.22.
West African gold explorer Volta Re-sources was the period’s biggest success story, gaining 106% to finish at 35¢. The company released a flurry of news over the last two weeks, the most significant being its Sept. 15 announcement of a new gold discovery at its Gaoua project in southwestern Burkina Faso.
It was also a good period for diamond explorer Peregrine Diamonds. The company’s shares shot up 83% to finish at $3.40 on two excellent news releases. First, Peregrine announced the discovery of seven additional kimberlites at its Chidliak project on Baffin Island and then reported that a 398.8-kg sample from its CH-6 kimberlite yielded 2,730 diamonds larger than the 0.075-mm sieve size, including 131 diamonds larger than the 0.6-mm sieve size.
BioteQ Environmental Technologies also had a solid period. The company, which extracts minerals from mine waste and purifies water at the same time, announced a new contract with Koza Gold for its Mastra gold mine in Turkey. It also said it would restart operations at the Mt. Gordon mine site in Australia. Operations were suspended in January after a storm damaged plant equipment.
Klondex Mines fell 29% to $1.29 after it axed a proposed merger with Paramount Gold and Silver. Klondex says its due-diligence review revealed that Paramount’s public disclosure record contained material misstatements and omissions regarding the inferred resource at its San Miguel gold-silver project in Mexico. Paramount denies the allegations.
First Uranium shares plummeted over the period by 21%. The company had to suspend operations at its Ezulwini uranium mine in South Africa after a worker was killed at the site. But after an investigation by the South African government, the mine was reopened after just one week. Uranium prices have not enjoyed the same rally that other minerals have in last eight months, and at presstime, the spot price for U3O8 was US$42 per lb.
TSX most active issues | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Barrick Gold | ABX | 38742 | 40.56 | 38.89 | 39.54 | + 0.22 |
Peregrine Diam | PGD | 27577 | 4.65 | 1.57 | 3.40 | + 1.55 |
Yamana Gold | YRI | 27373 | 12.00 | 10.91 | 10.99 | -0.58 |
HudBay Minls | HBM | 27111 | 13.47 | 10.11 | 13.03 | + 3.66 |
WesternCCoal | WTN | 27033 | 3.44 | 2.83 | 2.97 | -0.29 |
Uranium One | UUU | 25310 | 2.54 | 2.28 | 2.54 | + 0.05 |
Shore Gold | SGF | 23090 | 1.31 | 1.00 | 1.10 | -0.14 |
Denison Mines | DML | 22473 | 2.32 | 1.97 | 2.14 | + 0.09 |
Mercator Mnls | ML | 20881 | 3.18 | 2.76 | 2.80 | -0.15 |
Teck B | TCKB | 20342 | 31.06 | 28.16 | 29.47 | + 0.16 |
TSX greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Volta Res | VTR | 16805 | 0.47 | 0.17 | 0.35 | +105.8 |
Peregrine Diam | PGD | 27577 | 4.65 | 1.57 | 3.40 | + 83.7 |
BioteQ Env | BQE | 2568 | 0.95 | 0.55 | 0.83 | + 56.6 |
Stornoway Diam | SWY | 13176 | 0.28 | 0.12 | 0.23 | + 53.3 |
Yukon Gold | YK | 2814 | 0.15 | 0.03 | 0.06 | + 50.0 |
HudBay Minls | HBM | 27111 | 13.47 | 10.11 | 13.03 | + 39.0 |
Yorbeau Res A | YRBA | 2493 | 0.34 | 0.19 | 0.25 | + 31.5 |
Sierra Minls | SIM | 844 | 0.31 | 0.17 | 0.28 | + 27.2 |
Zincore Mtls | ZNC | 3268 | 0.19 | 0.14 | 0.19 | + 26.6 |
Globex Mng | GMX | 169 | 1.69 | 1.28 | 1.56 | + 25.8 |
Klondex Mns | KDX | 1703 | 1.85 | 1.25 | 1.29 | -29.1 |
Velocity Minls | VLC | 21 | 0.25 | 0.19 | 0.19 | -24.0 |
Atlanta Gold | ATG | 165 | 0.12 | 0.10 | 0.10 | -23.0 |
Colombia Goldf | GOL | 588 | 0.24 | 0.18 | 0.18 | -21.7 |
First Uranium | FIU | 6744 | 3.70 | 2.71 | 2.91 | -21.3 |
Anaconda Mng | ANX | 273 | 0.31 | 0.25 | 0.25 | -19.3 |
Moly Mines | MOL | 3206 | 1.19 | 0.87 | 0.94 | -16.8 |
Rockwell Diam | RDI | 5861 | 0.05 | 0.05 | 0.05 | -16.6 |
BRC DiamondCr | BCD | 20 | 0.05 | 0.05 | 0.05 | -16.6 |
Platmin | PPN | 201 | 1.50 | 1.22 | 1.25 | -16.1 |
TSX greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
First Quantum | FM | 3005322 | 68.86 | + 5.38 |
HudBay Minls | HBM | 27110777 | 13.03 | + 3.66 |
Peregrine Diam | PGD | 27577329 | 3.40 | + 1.55 |
Mag Silver | MAG | 564903 | 6.33 | + 0.95 |
Aquiline Res | AQI | 1167884 | 4.27 | + 0.78 |
Golden Mnls | AUM | 26100 | 5.99 | + 0.75 |
Major Drilling | MDI | 960013 | 22.00 | + 0.70 |
Ivanhoe Mines | IVN | 6442548 | 13.64 | + 0.67 |
Colossus Minls | CSI | 3445230 | 4.85 | + 0.50 |
Sprott Res | SCP | 1668438 | 3.52 | + 0.45 |
Agnico-Eagle | AEM | 4826247 | 69.97 | -4.04 |
Silver Std Res | SSO | 697874 | 21.84 | -2.34 |
Goldcorp | G | 12659905 | 41.81 | -2.22 |
Franco-Nevada | FNV | 2352358 | 27.71 | -1.90 |
Agrium | AGU | 3910002 | 54.11 | -1.56 |
Kinross Gold | K | 17456311 | 22.35 | -1.52 |
Cameco Corp | CCO | 4779454 | 30.17 | -1.49 |
Newmont Mng | NMC | 47499 | 46.32 | -1.47 |
Seabridge Gold | SEA | 162011 | 29.19 | -1.46 |
Pan Am Silver | PAA | 1120523 | 23.58 | -1.30 |
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