TSX down, Sept. 13-17

The S&P/TSX Composite Index fell 142.7 points or 0.69% to finish the September 13-17 trading week at 20,490.41. The S&P/TSX Global Mining Index fell 4.83 points or 4.76% to 96.75 and the S&P/TSX Base Metals Index dropped 8.07 points or 4.77% % to 161.18. The S&P/TSX Global Gold Index fell 7.03 points or 2.50% to 274.05 and spot gold fell US$33 per oz. or 1.85% to US$1,753.80 per ounce.

Lithium Americas jumped $1.56 per share to $30.09 per share. The company announced the election of Kelvin Dushnisky and Jinhee Magee to its board of directors. Dushnisky was previously the CEO and a member of the board of AngloGold Ashanti and prior to that the president and executive director of Barrick Gold. Magee is currently the chief financial officer and senior vice president of Lundin Mining. The company has development-stage projects in Argentina’s Jujuy province and in Nevada.

Shares of Kirkland Lake Gold rose $1.12 to $52.54. The company announced a quarterly dividend payment for the third quarter of US$0.1875 per common share, which will be paid on October 13 to shareholders of record as of the close of business on September 29. The payment is the 18^th quarterly dividend payment since the company adopted its dividend policy in March 2017. The company is targeting production of 1.3 million oz. to 1.4 million ounces this year. In 2020 the company achieved its guidance and produced 1.369 million oz. gold at all-in sustaining costs of US$800 per ounce.

Gran Colombia Gold gained 63¢ to $5.25 per share. The company reported August production of 17,377 oz. gold and 17,915 oz. silver at its Segovia operations, bringing its total from Segovia for the first eight month of the year to 133,891 oz. gold and 144,796 oz. silver, up from 129,082 oz. gold and 118,570 oz. silver in the first eight months of 2020. Gran Colombia also announced that commissioning of the new polymetallic recovery plant at Segovia has begun and said it expects to begin producing concentrate including zinc, lead, gold and silver from its tailings in the fourth quarter of 2021. The Segovia operations in Colombia’s mining district of Antioquia, consist of several mines, including El Silencio, Sandra K, Providencia and Carla. The company said Segovia is on track to produce between 200,000 and 220,000 oz. gold this year. In addition, Gran Colombia declared the next monthly dividend of 1.5¢ per common share will be paid to shareholders of record at the close of business on September 30.

Shares of SilverCrest Metals advanced 43¢ to $9.90. The Mexico-focused company has been included in the Toronto Stock Exchange’s 2021 TSX30, a flagship program recognizing the 30 top-performing TSX stocks over a three-year period based on dividend-adjusted share price appreciation. SilverCrest’s shares over the three year period rose 286%, ranking it ninth on the 2021 TSX30 list.