The TSX composite index was up 30.42 over the Aug. 22-28 period to 12,167.35. The gain came in spite of declines in the energy and mining sectors, as the index was buoyed by strength in the tech sector.
Gold fell US$8.15 per oz. during the period with lower oil prices and the approaching deadline for the UN’s response to Iran’s nuclear stance seen as the main culprits. The gold index was down 6.68 points to 308.09 over the session.
The diversified miners didn’t fare much better. The sector fell 16.47 points as the price of copper, silver and platinum fell, while zinc, lead and nickel made gains.
While EuroZinc Mining’s massive float ensured that it remained in its habitual place atop the most-active list, Equinox Minerals jumped into second spot. Equinox increased its liquidity through a bought-deal that saw a syndicate of underwriters buy 75 million Equinox shares for a total of $105 million in proceeds. The company will use the funds to build its Lumwana copper project in Zambia.
Ascendant Copper’s common shares were the biggest gainers for the period — up 33.3% to 68 for the period on news that it was preparing a drill program for its Chaucha copper, molybdenum, gold, and silver project in Ecuador. The property is divided into six targets. A historical estimate by BHP Billiton for one area was 516 million lbs. copper at a cutoff grade of 0.4% copper, and 28 million lbs. molybdenum. Another target has a historical estimate of 120 million tonnes of copper mineralization averaging 0.4-0.5% copper and 0.02-0.03% molybdenum.
Wolfden Resources’ shares were the biggest losers by percentage for the period, dropping 40% to $1.80 after the company released guidance on its new share structure. A deal with its newly listed spinoff company, Premier Gold Mines, gives Wolfden shareholders one new Wolfden share and 0.7 of a Premier share for each old Wolfden share. The company says its shareholders’ cost base has been adjusted so that one new Wolfden share is valued at 78.4% of the old share with each Premier share worth 21.6%. Premier recently absorbed Wolfden’s interest in the Bonanza and East Bay gold projects, both in the Red Lake area of Ontario, as well as other mineral interests in Ontario and received $2 million in startup cash from Wolfden.
Barrick Gold’s $1.5-billion hostile takeover bid for NovaGold Resources continues to make news, with NovaGold accusing Barrick of violating American securities law. NovaGold claims Barrick misrepresented facts about the Donlin Creek project in Alaska; NovaGold holds a majority 70% interest in the project with Barrick holding a 30% stake. Both companies are trying to acquire Pioneer Metals. Shares in each company were relatively flat for the period with NovaGold falling 3 to $19.07 and Barrick shedding 66 to $36.25.
TSX greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Gabriel Res wt | GBU.WT | 161 | 1.75 | 1.25 | 1.65 | +43.4 |
| Ascendant Copp | ACX | 52 | 0.68 | 0.53 | 0.68 | +33.3 |
| Cancor Mines | KCR | 73 | 0.32 | 0.25 | 0.32 | +30.6 |
| Chariot Res wt | CHD.WT | 4148 | 0.325 | 0.20 | 0.285 | +29.5 |
| Anatolia Minls | ANO | 949 | 4.15 | 3.24 | 3.88 | +21.2 |
| Grande Cache C | GCE | 634 | 1.32 | 1.06 | 1.32 | +21.1 |
| Gabriel Res | GBU | 18104 | 4.15 | 3.30 | 3.98 | +20.6 |
| Guyana Gldflds | GUY | 966 | 9.39 | 7.60 | 9.10 | +18.9 |
| Nevsun Res Wt | NSU.WT | 27 | 1.54 | 1.30 | 1.52 | +15.1 |
| Skye Res | SKR | 882 | 13.95 | 12.15 | 13.85 | +14.7 |
| Wolfden Res | WLF | 1896 | 2.93 | 1.77 | 1.80 | -40.0 |
| Diamond Fields | DFI | 591 | 0.135 | 0.105 | 0.105 | -16.0 |
| Entree Gold | ETG | 215 | 1.37 | 1.21 | 1.21 | -13.5 |
| Pelangio Mines | PLG | 607 | 1.58 | 1.27 | 1.32 | -13.1 |
| Red Back Mng | RBI | 279 | 3.42 | 3.01 | 3.04 | -12.8 |
| HMZ Metals | HMZ | 438 | 0.08 | 0.06 | 0.07 | -12.5 |
| Coalcorp wt | CCJ.WT | 465 | 0.31 | 0.24 | 0.245 | -12.5 |
| StrataGold | SGV | 244 | 1.17 | 0.97 | 1.00 | -12.2 |
| Northgate wtA | NGX.WT.A | 110 | 1.29 | 1.10 | 1.17 | -12.0 |
| QGX | QGX | 302 | 1.70 | 1.46 | 1.50 | -10.7 |
TSX greatest value change
| VOLUME | CLOSE | CHANGE | ||
| Dundee Bancrp | DBC.A | 142768 | 43.50 | +4.00 |
| Skye Res | SKR | 882326 | 13.85 | +1.78 |
| Guyana Gldflds | GUY | 965663 | 9.10 | +1.45 |
| Vista Gold | VGZ | 70913 | 13.96 | +0.90 |
| Greystar Res | GSL | 126628 | 9.89 | +0.69 |
| Anatolia Minls | ANO | 948517 | 3.88 | +0.68 |
| Gabriel Res | GBU | 18103594 | 3.98 | +0.68 |
| Corriente Res | CTQ | 676976 | 5.47 | +0.62 |
| Gabriel Res wt | GBU.WT | 160870 | 1.65 | +0.50 |
| Fronteer Dev G | FRG | 1950901 | 6.27 | +0.44 |
| Teck Comin B | TCK.B | 6093620 | 76.16 | -5.00 |
| First Quantum | FM | 1162506 | 59.40 | -3.10 |
| Agnico-Eagle | AEM | 2016035 | 39.22 | -2.30 |
| Meridian Gold | MNG | 2279952 | 30.17 | -1.83 |
| ISh COMEX G Tr | IGT | 17165 | 67.82 | -1.71 |
| Agnico-Eag wt* | AEM.WT.U | 125500 | 18.40 | -1.68 |
| Potash Cp Sask | POT | 938636 | 108.99 | -1.60 |
| Newmont Mng | NMC | 101555 | 57.23 | -1.42 |
| Cameco Corp | CCO | 4298559 | 43.67 | -1.24 |
| Silver Std Res | SSO | 288344 | 25.20 | -1.20 |
TSX most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| EuroZinc Mng | EZM | 109632 | 3.42 | 3.23 | 3.27 | -0.10 |
| Equinox Minls | EQN | 20660 | 1.68 | 1.43 | 1.53 | +0.08 |
| Kinross Gold | K | 19294 | 15.49 | 14.58 | 14.85 | +0.03 |
| Gabriel Res | GBU | 18104 | 4.15 | 3.30 | 3.98 | +0.68 |
| Bema Gold | BGO | 14566 | 6.01 | 5.63 | 5.64 | -0.32 |
| Chariot Res | CHD | 14139 | 0.68 | 0.56 | 0.64 | +0.07 |
| Yamana Gold | YRI | 12019 | 11.60 | 10.83 | 10.98 | -0.22 |
| Inco Ltd | N | 11059 | 86.90 | 85.95 | 86.10 | -0.42 |
| Breakwater Res | BWR | 9447 | 1.41 | 1.31 | 1.34 | -0.02 |
| Goldcorp | G | 9342 | 34.46 | 32.78 | 33.09 | -0.93 |
Be the first to comment on "Toronto Stock Exchange August 22-28"