Toronto Stock Exchange
The S&P/TSX Composite Index slid for the seventh week, down 63 points at 12,040.39 as investors assessed China’s growth data and Europe’s continuing debt crisis.
During the week, China reported its gross domestic product grew by 8.1% in the first quarter, down from 8.9% in the fourth quarter of 2011 and below economists’ growth predictions of 8.4%. This marks China’s weakest period since the second quarter of 2009.
On April 13, news of higher bond yields in Spain and Italy stirred concerns about whether the countries could pay their debts.
As a result, investors drove the spot price of gold to US$1,658.50, up US$27.20 per oz. in New York. This helped bolster the S&P/TSX Global Gold Index, which moved up 10 points to close at 320.96.
The diversified miners followed the same trend, posting a 37-point gain as the S&P/TSX Capped Diversified Metals & Mining Index closed at 1,059.06 points.
Gran Colombia Gold gained 34% during the session to close at 45¢. It announced that its chairman, Serafino Iacono, recently bought over 2 million shares in the company at an average price of 36.7¢ a share. This brings Iacono’s total shares to 7.2 million, representing 1.9% of the company’s outstanding shares.
On April 15, Gran Colombia reported a new resource estimate for its Carla mine in Colombia. The mine has 59,000 oz. gold from 250,000 tonnes grading 7.5 grams gold per tonne in the indicated category. It has another 54,000 oz. from 340,000 tonnes at 4.9 grams gold in inferred.
Drill results boosted Marathon Gold up 29% to close at 98¢. On April 10, the company reported eight new holes from this year’s 40,000-metre program at its Leprechaun gold deposit in Valentine Lake, N.L. Highlights include 21 metres returning 7.23 grams gold per tonne, with a 2-metre intercept of 48.99 grams gold and 14 metres carrying 9.19 grams, including 2 metres of 34.92 grams gold.
The deposit is part of the Valentine Lake project, which is equally held by Marathon and Mountain Lake Resources.
Two days later, Marathon reported its most significant intercept to date from the 20,000-metre program at its jointly held Golden Chest mine in Idaho. The standout intercept returned 5 metres of 12.4 grams gold from 74 metres, and 7.74 grams gold over 3 metres from 107 metres.
The property is held equally by the company and partner New Jersey Mining, which is the operator.
Eldorado Gold was the second most traded stock of the week, following Cline Mining. The gold producer saw 19.3 million shares change hands as it reported its five-year growth plans. Eldorado expects to produce 1.7 million oz. gold a year by 2016, a 160% increase over five years. Cash costs for 2012 to 2016 are pegged at US$350 per oz. Eldorado gained $1.65 on the news and closed at $14.40 per share.
TSX most active issues
VOLUMEWEEK
(000s)HIGHLOWCLOSECHANGE
Cline MngCMK448311.370.921.01-0.38
Eldorado GoldELD1934014.6712.4914.40+1.65
First QuantumFM1587523.1819.0321.61+2.05
Silvermex ResSLX154780.580.540.56+0.02
Kinross GoldK145709.629.139.49+0.34
Eastern PlatinELR132080.400.360.38-0.02
Orbite AlumnaeORT126222.502.102.33-0.01
Avion GoldAVR125061.030.880.96+0.10
B2GoldBTO123944.323.934.13+0.09
Lake Shore GldLSG117840.960.870.91-0.04
TSX greatest percentage change
VOLUMEWEEK
(000s)HIGHLOWCLOSECHANGE
Velocity MinlsVLC1030.1850.130.185+37.0
Gran ColombiaGCM88830.510.340.455+33.8
Marathon GoldMOZ2711.000.740.98+28.9
Augusta ResAZC6372.982.112.76+26.0
Cobriza MtlsCZA650.250.150.22+22.2
Mariana ResMRY100.130.130.13+18.1
MagIndustriesMAA4090.150.120.145+16.0
Dynacor Gold MDNG1500.750.630.74+15.6
South Am SilvrSAC9341.711.431.64+13.8
Coro MiningCOP390.440.380.43+13.1
Nuinsco ResNWI15550.070.050.05-28.5
Cline MngCMK448311.370.921.01-27.3
Gabriel ResGBU86383.612.502.74-22.3
Goldgroup MngGGA38730.900.700.70-22.2
Red Cresc ResRCB4950.1250.080.10-20.0
Diamond FieldsDFI1950.110.0850.085-19.0
Wallbridge MngWM6650.190.150.155-18.4
Victory NickelNI84010.060.040.045-18.1
Macarthur MnlMMS2370.820.700.70-17.6
Dalradian ResDNA4141.331.111.11-16.5
TSX greatest value change
WEEK
VOLUMECLOSECHANGE
Walter EnergyWLT1859264.35+6.00
Royal GoldRGL3618463.96+2.75
Franco-NevadaFNV222251042.39+2.32
Inmet MiningIMN156270056.30+2.08
First QuantumFM1587470421.61+2.05
Eldorado GoldELD1933975114.40+1.65
Teck Res ATCKA1059938.58+1.58
Labdr I-Ore RoLIF_U39144435.85+1.51
Teck Res BTCKB1167234736.61+1.45
Detour GoldDGC352930224.79+1.44
Potash Cp SaskPOT753400642.70-2.04
AgriumAGU300547585.16-1.64
Ivanhoe MinesIVN494074212.75-1.01
Horizns G BearHGD201126211.15-0.81
Gabriel ResGBU86377292.74-0.79
Jaguar MngJAG38212513.53-0.56
Cline MngCMK448314451.01-0.38
North Am En PaNOA352004.30-0.35
Golden MnlsAUM1287916.92-0.33
Karnalyte ResKRN1194209.94-0.32
TSX Venture Exchange
There was no end to the S&P/TSX Venture Composite Index decline in the period, with the index dropping 21.11 points to 1,459.93. The continued decline has left investors hesitant, with average daily trading volume dropping 17 million shares from the week before to an average of 72.5 million shares traded per day.
TomaGold was the trading week’s standout stock, jumping 54¢ to 80¢ and trading as high as 96¢ per share on almost 2 million shares traded after releasing a whopper of a hit from its Monster Lake project near Chibougamau, Que. The hole in question, 12-60, returned 6 metres grading 237.6 grams gold per tonne from 69 metres downhole. The hole is part of an 18-hole drill program, but was rush assayed on account of its visible gold. Stellar Pacific Ventures, which sold the Monster property to TomaGold in January for $3.3 million in shares, saw 8.7 million shares traded as it climbed 2¢ to 11¢. Stellar already had plans in place to distribute 16.5 million TomaGold shares to shareholders and keep 5.5 million on its books.
Great Quest Metals saw some share price recovery after getting hit hard by the coup in Mali. With encouraging signs coming from the country, Great Quest’s share price climbed up 44¢ to end at $1.85 apiece. The company is still well off the $3.87 high it briefly reached in mid-March after a strong climb starting in January. In early April Great Quest appointed Joel Jeangrand as president and CEO, who has 20 years of experience in natural resources and renewable energy.
Chesapeake Gold was again the biggest value climber in the period, rising up $1.29 to hit $13.59 while still releasing no news. The company should be releasing a prefeasibility study shortly on its Metates gold-silver project in Mexico, which hosts 1.18 billion measured and indicated tonnes grading 0.5 gram gold, 13.7 grams silver per tonne and 0.16% zinc for 19 million contained oz. gold, 519 million oz. silver and 4.2 billion lbs. zinc.
Graphite stocks also bucked the overall market trend, with Flinders Resources climbing 28¢ to $2.77 on a little under 900,000 shares traded, and
TSX-V most active issues
VOLUMEWEEK
(000s)HIGHLOWCLOSECHANGE
Orko SilverOK158621.421.041.21-0.24
Stellar Pac VtSPX86480.130.080.10+0.02
Zenyatta VentZEN78860.520.270.44+0.10
Great WesternGWG73370.480.410.41-0.06
Visible Gold MVGD71640.1050.0850.095+0.01
Trelawney M&ExTRR70792.642.212.56+0.19
Aurcana CorpAUN67350.860.800.83-0.02
Sandstorm GldSSL58411.881.631.78+0.07
Abacus Mng&ExAME51690.2450.2150.23-0.03
Northern GraphNGC49093.152.322.95+0.21
TSX-V greatest percentage change
VOLUMEWEEK
(000s)HIGHLOWCLOSECHANGE
Azteca GoldAZG4300.010.0050.01+100.0
Northcore ResNCR25890.030.0150.025+66.6
Abzu GoldABS19310.260.180.26+62.5
Artha ResAHC5780.080.0550.08+60.0
China Mnls MngCMV9140.080.050.08+60.0
JiminexJIM17410.080.0350.07+55.5
Randsburg IntlRGZ4660.150.0550.09+50.0
Soho ResSOH11780.0450.0250.045+50.0
Mill Bay VentMBV910.0750.0650.075+50.0
Belvedere ResBEL1030.160.090.16+45.4
MBMI ResMBR8120.020.010.01-50.0
Meritus MnlsMER3540.0250.020.02-42.8
Abbastar ResABA270.0550.0550.055-38.8
Canadn PlatCPC7340.090.0550.06-36.8
NV GoldNVX2130.150.130.13-35.0
Blackstone ResBLV520.0150.010.01-33.3
Red Pine ExplRPX1390.0250.020.02-33.3
Teslin Rvr ResTLR540.060.0350.04-33.3
New Shoshoni VNSV1260.0150.010.01-33.3
Cascade ResCC3380.020.0150.02-33.3
TSX-V greatest value change
WEEK
VOLUMECLOSECHANGE
Chesapeake GldCKG8427813.59+1.29
Lumina CopperLCC31370316.29+0.93
Great Quest MeGQ3003091.81+0.40
Flinders ResFDR8573972.77+0.28
Pac Booker MinBKM216229.60+0.27
Northern GraphNGC49087512.95+0.21
Trelawney M&ExTRR70790662.56+0.19
GTA Res & MngGTA3124100.80+0.17
Argex Silver CRGX26795481.02+0.16
Esperanza ResEPZ1130401.43+0.15
Verde PotashNPK711745.51-0.24
Orko SilverOK158618711.21-0.24
West KirklandWKM659250.56-0.19
Hana MngHMG11393711.68-0.15
Probe MinesPRB11626771.10-0.15
Abitibi RoyaltRZZ116020.85-0.15
Cliffmont ResCMO1641000.85-0.14
RoxgoldROG19615521.44-0.14
Olivut ResOLV1118541.40-0.14
Batero GoldBAT10148830.64-0.13
U.S. markets
Chesapeake GldCKG8427813.59+1.29
Lumina CopperLCC31370316.29+0.93
Great Quest MeGQ3003091.81+0.40
Flinders ResFDR8573972.77+0.28
Pac Booker MinBKM216229.60+0.27
Northern GraphNGC49087512.95+0.21
Trelawney M&ExTRR70790662.56+0.19
GTA Res & MngGTA3124100.80+0.17
Argex Silver CRGX26795481.02+0.16
Esperanza ResEPZ1130401.43+0.15
Verde PotashNPK711745.51-0.24
Orko SilverOK158618711.21-0.24
West KirklandWKM659250.56-0.19
Hana MngHMG11393711.68-0.15
Probe MinesPRB11626771.10-0.15
Abitibi RoyaltRZZ116020.85-0.15
Cliffmont ResCMO1641000.85-0.14
RoxgoldROG19615521.44-0.14
Olivut ResOLV1118541.40-0.14
Batero GoldBAT10148830.64-0.13
U.S. most active issues
VOLUMEWEEK
(000s)HIGHLOWCLOSECHANGE
Alcoa*AA21185110.249.319.85+0.22
Alpha Nat Res*ANR9232116.3013.8015.66+1.46
Freeport McMo*FCX8883438.0135.7336.94-0.55
Arch Coal*ACI7258410.759.889.99-0.16
Peabody Enrgy*BTU4261129.4327.1128.38+0.11
Kinross Gold*KGC410109.659.119.51+0.32
Newmont Mng*NEM4003849.9047.8048.68+0.95
Barrick Gold*ABX3543842.4440.7141.61+0.88
Potash C Sask*POT2983744.8542.5142.82-2.17
Mosaic*MOS2939052.4949.5150.24-2.72
U.S. greatest percentage change
VOLUMEWEEK
(000s)HIGHLOWCLOSECHANGE
America West*AWSR28430.370.140.31+90.1
Augusta Res*AZC3542.972.162.76+23.2
Radius Gold*RDUFF1040.3520.3310.331+17.7
Linux Gold*LNXGF230.040.030.04+14.2
Eldorado Gold*EGO591614.7112.4414.45+12.5
Gold Reserve*GRZ2263.993.373.96+12.1
Alderon Irn O*AXX1543.833.113.47+11.9
Walter Energy*WLT337864.9456.3464.44+11.4
Fischer-W Gld*FWGO270.0390.0360.039+11.4
Alpha Nat Res*ANR9232116.3013.8015.66+10.2
Habanero Res*HBNRF250.0610.0510.052-20.0
Samex Mng*SMXMF1790.470.360.379-19.3
Cream Mnrls*CRMXF3280.1980.160.176-16.1
Elray Res*ELRA29780.0070.0060.006-14.2
Geovic Mng*GVCM1930.1320.110.112-13.8
Silver Dragon*SDRG47220.0430.0320.035-10.2
Uranerz Energ*URZ21522.252.052.07-9.6
Oromin Expl*OLEPF1080.8550.7980.798-9.1
Anooraq Res*ANO4920.390.350.355-8.9
Golden Star*GSS114271.771.581.60-8.0
U.S. greatest value change
WEEK
VOLUMECLOSECHANGE
Randgold Res*GOLD612728989.04+7.60
Walter Energy*WLT337830964.44+6.62
Buenaventura*BVN654218141.50+2.84
Royal Gold*RGLD245858763.93+2.45
Cliffs Nat Rs*CLF2025240069.31+2.26
Franco-Nevada*FNV64758742.42+2.10
Eldorado Gold*EGO591554714.45+1.61
Alliance Rs P*ARLP205756357.42+1.50
Alpha Nat Res*ANR9232146915.66+1.46
Teck Res B*TCK1598557036.67+1.36
Mosaic*MOS2938971550.24-2.72
Potash C Sask*POT2983680642.82-2.17
Agrium*AGU72782885.34-1.89
Soc Quim&M Ch*SQM166297257.39-1.47
Ivanhoe Mines*IVN1613853912.79-1.05
Intrepid Pots*IPI77307822.69-0.87
OM Group*OMG102978725.30-0.61
Freeport McMo*FCX8883410636.94-0.55
Molycorp*MCP2372821132.72-0.47
Harmony Gold*HMY117356149.79-0.43
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