Energy and metals stocks lifted the S&P-TSX Composite Index 286.77 points to 12,136.93 over the Aug. 15-21 session. Gold rose as high as US$630 per oz. during the period, ahead of Iran’s declaration that it would pursue its uranium enrichment program in spite of a United Nations appeal. A rise in crude and a fall in the U.S. dollar combined to lift the yellow metal; overall, gold was up just 40 for the period, to $625 per oz. , but the capped gold index outpaced its pricing, climbing 5.2% to 314.77.
The diversified miners also gained, moving up 9.51 points to 578.81. Nickel made the strongest gains of the base metals, climbing roughly 13% to US$14.99 per lb. While zinc and lead were up for the week, copper was off 2.
EuroZinc Mining was perched in its familiar spot atop the most-active list — only this time, its position was backed up by big news. Looking to become a global producer of copper and zinc, EuroZinc bought Lundin Mining. Each EuroZinc share will be exchanged for 0.0952 of a Lundin share. The new company will be called Lundin Mining Corp., and will have a capitalization of $3.3 billion. Shares in EuroZinc were up 21 for the period to $3.37.
Yamana Gold entered the leader’s fray, coming in fourth in volume traded. The Toronto-based company announced a planned friendly takeover of Viceroy Exploration. If successful, it would be Yamana’s third acquisition of the year, and would add Viceroy’s advanced exploration project, Gualcamayo, in Argentina, to a portfolio that is currently heavy on Brazil.
Investors responded positively to news from Wyoming-based High Plains Uranium. While it isn’t exactly clear whether a merger with Energy Metals will be a takeover, plan of arrangement or an amalgamation, High Plains says Energy Metals has agreed to buy between $6 and $8 million worth of High Plains’ debentures. There is also a joint-venture agreement between the companies on High Plains’ interests in the Gas Hills and North Platte Complex properties in Wyoming. High Plains was up roughly 27% to $1.03 for the period.
Shore Gold was the second-largest gainer, up 27% to $5.92. On Aug. 22, the company announced that legal proceedings between it and De Beers were over, with a decision in favour of Shore and Cameco. The key issue was an agreement between Shore Gold, which owns 42.245% of the joint venture, and Cameco, which controls 15.51%, to vote together on operational issues at the Fort la Corne diamond project.
Grande Cache Coal continued on its downward slide. After reaching $1.60 on Aug. 2 — shortly after releasing its second-quarter results — the Alberta-based company has fallen roughly 47%. It closed at $1.09.
The week’s largest loser by percentage, Ivernia, also fell. The lead producer lost nearly 15% over the period, closing at $1.14. The company recently said that it would not meet its production guidance of 100,000 tonnes of lead for the year, instead, coming closer to 60,000 tonnes.
TSX greatest percentage change
VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Rio Narcea wt | RNG.WT | 594 | 0.40 | 0.285 | 0.40 | +42.8 |
High Plains Ur | HPU | 7240 | 1.08 | 0.92 | 1.03 | +27.1 |
Shore Gold | SGF | 3567 | 6.00 | 4.87 | 5.92 | +27.0 |
Globex Mng | GMX | 231 | 4.00 | 3.31 | 3.94 | +25.0 |
Exall Res | EXL | 2056 | 2.34 | 1.78 | 2.31 | +24.8 |
Revett Mnls | RVM | 1895 | 1.35 | 1.00 | 1.30 | +23.8 |
Viceroy Expl | VYE | 13184 | 10.87 | 8.55 | 10.75 | +21.7 |
Twin Mining | TWG | 2681 | 0.15 | 0.115 | 0.14 | +21.7 |
Pure Gld Mnr | PUG | 12772 | 0.09 | 0.065 | 0.085 | +21.4 |
Rio Narcea Gld | RNG | 16680 | 2.73 | 2.20 | 2.65 | +21.0 |
Grande Cache C | GCE | 946 | 1.36 | 1.07 | 1.09 | -19.8 |
Ivernia | IVW | 4634 | 1.28 | 1.11 | 1.14 | -14.9 |
Brazilian Diam | BDY | 130 | 0.225 | 0.205 | 0.21 | -14.2 |
Ascendant Copp | ACX | 69 | 0.56 | 0.51 | 0.51 | -13.5 |
BrazMin | BZM | 175 | 1.30 | 1.15 | 1.15 | -12.8 |
Lumina Res | LUR | 119 | 0.71 | 0.62 | 0.62 | -12.6 |
Rex Diamond | RXD | 194 | 0.085 | 0.065 | 0.07 | -12.5 |
Gitennes Expl | GIT | 25 | 0.315 | 0.28 | 0.28 | -12.5 |
Richmont Mines | RIC | 159 | 3.91 | 3.48 | 3.50 | -10.4 |
Khan Res | KRI | 329 | 1.33 | 1.11 | 1.13 | -9.6 |
TSX greatest value change
VOLUME | CLOSE | CHANGE | ||
First Quantum | FM | 2850307 | 62.50 | +6.745 |
Cameco Corp | CCO | 5692851 | 44.91 | +2.58 |
Silver Std Res | SSO | 611436 | 26.40 | +2.57 |
Barrick Gold | ABX | 10644922 | 36.91 | +2.56 |
Dundee Bancrp | DBC.A | 101264 | 39.50 | +2.48 |
Glamis Gold | GLG | 3640450 | 42.41 | +2.41 |
Agnico-Eagle | AEM | 1945016 | 41.52 | +2.38 |
Lundin Mng | LUN | 733427 | 33.75 | +2.25 |
Teck Comin B | TCK.B | 13115163 | 81.16 | +2.16 |
Tenke Mining | TNK | 713981 | 12.50 | +2.10 |
Inco wt | N.WT | 51828 | 56.40 | -2.35 |
Inco Ltd | N | 28775814 | 86.52 | -2.28 |
Major Drilling | MDI | 112870 | 20.40 | -1.40 |
ISh COMEX G Tr | IGT | 25124 | 69.53 | -0.97 |
Gammon Lk Res | GAM | 1521527 | 13.72 | -0.71 |
Quadra Mng | QUA | 1602580 | 11.75 | -0.65 |
Dundee Prec Mt | DPM | 188429 | 10.50 | -0.56 |
Richmont Mines | RIC | 158545 | 3.50 | -0.41 |
Jaguar Mng | JAG | 126830 | 4.60 | -0.40 |
aramide Res | LAM | 298699 | 5.25 | -0.35 |
TSX most active issues
VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | |||
EuroZinc Mng | EZM | 69166 | 3.49 | 3.06 | 3.37 | +0.21 | |
Bema Gold | BGO | 34665 | 6.08 | 5.60 | 5.96 | -0.02 | |
Inco Ltd | N | 28776 | 90.47 | 86.29 | 86.52 | -2.28 | |
Yamana Gold | YRI | 22386 | 11.50 | 10.43 | 11.20 | +0.11 | |
Falconbridge | FAL | 19413 | 62.53 | 62.39 | 62.43 | +0.06 | |
Rio Narcea Gld | RNG | 16680 | 2.73 | 2.20 | 2.65 | +0.46 | |
Equinox Minls | EQN | 14638 | 1.45 | 1.24 | 1.45 | +0.15 | |
Kin ross Gold |
K | 14610 | 14.85 | 13.56 | 14.82 | +1.03 | |
Viceroy Expl | VYE | 13184 | 10.87 | 8.55 | 10.75 | +1.92 | |
Ivanhoe Mines | IVN | 13135 | 7.15 | 6.67 | 7.07 | +0.27 |
Be the first to comment on "Toronto Stock Exchange August 15-21"