The S&P/TSX Venture Composite lost ground during the shortened trading sessions, dropping 3.16 points en route to a 997.47-point close. Investors seemed to favour safe-haven instruments like gold and government bonds. Statistics Canada reported that the economy generated 200 jobs in July, while consensus economist estimates showed 20,000 jobs would be created. Four days later StatsCan retracted the number, saying it was mistaken.
Gold futures were on the rise, as December contracts for bullion jumped 1.7%, or US$22.10, before closing out the trading period at US$1,311 per oz. West Texas Intermediate crude oil traded relatively flat, with September contracts losing US64¢ before closing at US$97.65 per barrel. September contracts for copper dropped 2.1%, or US6.8¢, en route to a US$3.18 per lb. close.
Abitibi Royalties led the value-added category after augmenting its executive team and updating a royalty at Agnico-Eagle Mines and Yamana Gold’s Canadian Malarctic mine in Quebec. The company gained $1.28 during the week before closing out the trading period at $4 per share.
On Aug. 5 Abitibi announced that Ian Ball would be the company’s new president. Ball has worked with Rob McEwen at Goldcorp and McEwen Mining, and most recently served as McEwen Mining’s president, where he was responsible for overseeing production, construction and exploration activities throughout North and South America.
Abitibi provided an update on a 2% net smelter return royalty it holds on the Gouldie deposit, which lies 300 metres south of the main Canadian Malartic pit. Agnico Eagle and Yamana recently gave an update on Gouldie in their second-quarter results, announcing they are accelerating activities at the deposit to increase mine flexibility by building a lower-grade stockpile. The partners are spending $13 million on mining in order to access the deposit.
Kennady Diamonds had a strong week after releasing diamond-recovery results from an early 2014 drill program at its wholly owned Kennady North project in the Northwest Territories. Shares rose 46¢ to $6.51 per share. On Aug. 5 Kennady revealed results from 933 kilograms of kimberlite from Faraday, with a sample grade of 5.10 carats per tonne. Besides the high sample grade, almost all the commercial-sized diamonds are described as transparent and either white-colourless or off-white. The company reports that 75% have zero or minor inclusions.
Industrial metal outfit Largo Resources was near the top of the volume-traded category after changing the amortization and covenants on an outstanding debt facility. The company saw 5.14 million shares traded, as it lost 2¢ before closing at 32¢ per share.
TSX-V most active issues
| Volume | Week | ||||||
| (000s) | High | Low | Close | Change | |||
| Bullman Mnls | BUL | 5328 | 0.3 | 0.28 | 0.29 | – | 0.01 |
| Largo Res | LGO | 5143 | 0.36 | 0.31 | 0.32 | – | 0.02 |
| Alabama Graph | ALP | 4889 | 0.29 | 0.2 | 0.26 | + | 0.05 |
| Zenyatta Vent | ZEN | 4446 | 1.99 | 1.83 | 1.84 | – | 0.06 |
| Satori Res | BUD | 3496 | 0.07 | 0.06 | 0.07 | + | 0.02 |
| Goldstrike Res | GSR | 3250 | 0.2 | 0.08 | 0.16 | + | 0.08 |
| True Gold Mng | TGM | 3071 | 0.43 | 0.39 | 0.42 | – | 0.02 |
| Pershimco Res | PRO | 3015 | 0.37 | 0.34 | 0.34 | – | 0.01 |
| Fission Uran | FCU | 2643 | 1.35 | 1.25 | 1.35 | + | 0.07 |
| New Millennium | PGM | 2458 | 0.5 | 0.42 | 0.47 | + | 0.03 |
TSX-V greatest percentage change
| Volume | Week | ||||||
| (000s) | High | Low | Close | Change | |||
| Goldstrike Res | GSR | 3250 | 0.2 | 0.08 | 0.16 | + | 106.6 |
| Greenflag Vent | GFV | 311 | 0.15 | 0.08 | 0.15 | + | 100 |
| Mainstream Mnl | MJO | 256 | 0.01 | 0.01 | 0.01 | + | 100 |
| Champion Bear | CBA | 30 | 0.18 | 0.14 | 0.18 | + | 100 |
| African Metals | AFR | 20 | 0.01 | 0.01 | 0.01 | + | 100 |
| Bravada Gold | BVA | 74 | 0.1 | 0.08 | 0.1 | + | 66.6 |
| Electra Gold | ELT | 10 | 0.09 | 0.07 | 0.09 | + | 63.6 |
| Camino Mnls | COR | 10 | 0.06 | 0.05 | 0.06 | + | 50 |
| Cassidy Gold | CDX | 82 | 0.03 | 0.02 | 0.03 | + | 50 |
| Copper One | CUO | 1619 | 0.07 | 0.04 | 0.06 | + | 50 |
| Pac Imp Mines | PPM | 86 | 0.05 | 0.03 | 0.03 | – | 50 |
| Paget Mnls | PGS | 22 | 0.01 | 0.01 | 0.01 | – | 50 |
| Pantheon Vent | PVX | 235 | 0.02 | 0.01 | 0.01 | – | 50 |
| Frontline Gold | FGC | 150 | 0.01 | 0.01 | 0.01 | – | 50 |
| Bonterra Res | BTR | 66 | 0.01 | 0.01 | 0.01 | – | 50 |
| Green Valley M | GVY | 20 | 0.01 | 0.01 | 0.01 | – | 50 |
| Sunset Cove Mg | SSM | 45 | 0.01 | 0.01 | 0.01 | – | 50 |
| Rome Res | RMR | 66 | 0.1 | 0.09 | 0.09 | – | 40 |
| Sacre-Coeur Ml | SCM | 1815 | 0.03 | 0.01 | 0.02 | – | 40 |
| Alturas Minls | ALT | 63 | 0.02 | 0.02 | 0.02 | – | 40 |
TSX-V greatest value change
| Week | |||||
| Change | Close | Change | |||
| Abitibi Royalt | RZZ | 70532 | 4 | + | 1.28 |
| Kennady Diam | KDI | 48394 | 6.51 | + | 0.46 |
| Gold Reserve | GRZ | 48922 | 4.6 | + | 0.35 |
| Cayden Res | CYD | 417601 | 2.6 | + | 0.2 |
| Bacanora Mnls | BCN | 415101 | 1.41 | + | 0.16 |
| Reservoir Mnls | RMC | 144504 | 6.14 | + | 0.14 |
| Kaminak Gold | KAM | 1020063 | 1.02 | + | 0.1 |
| Champion Bear | CBA | 30000 | 0.18 | + | 0.09 |
| Marlin Gold | MLN | 34510 | 1.24 | + | 0.09 |
| Zimtu Capital | ZC | 79801 | 0.62 | + | 0.09 |
| Lumina Copper | LCC | 821709 | 9.97 | – | 0.4 |
| Pac Booker Min | BKM | 11647 | 4.95 | – | 0.15 |
| RPT Uranium | RPT | 124280 | 0.5 | – | 0.09 |
| Jaguar Mng | JAG | 74309 | 0.67 | – | 0.09 |
| Great Atlantic | GR | 23500 | 0.19 | – | 0.08 |
| Athabasca Mnls | ABM | 176406 | 2.48 | – | 0.07 |
| Glenmark Cap | GLM | 10000 | 0.22 | – | 0.07 |
| Atac Res | ATC | 641974 | 0.99 | – | 0.07 |
| Newstrike Cap | NES | 57720 | 0.93 | – | 0.07 |
| Antofagasta Gd | AN | 165915 | 0.19 | – | 0.07 |
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