An extreme cold weather front that kept most Canadians indoors over the holiday period also sent a chill through equity markets. The S&P/TSX Composite Index fell 0.2% on the first day of trading in 2014, finishing the week down a total of 39.12 points or 0.29% at 13,548.86. The S&P/TSX Capped Diversified Metals & Mining Index also lost 5.1 points or 0.70% to settle at 779.05. In contrast the S&P/TSX Global Gold Index moved 3.7 points or 2.34% higher to close at 161.55.
Shares of Detour Gold advanced 75¢ to $4.94 on news Jan. 2 that repairs to the pre-leach thickener system at its 100%-owned Detour Lake mine had been completed. The processing plant resumed operations and is targeted to operate at a rate of 50,000 tonnes per day within a week of the restart. During the downtime the company completed a number of other mill-related repairs and improvements, including the installation of the second shuttle chute to the secondary crushers. The mine has proven and probable reserves of 15.6 million ounces of gold.
Barrick Gold shares were up 63¢ to $19.31 on no news. On Dec. 22 the gold major announced that it was divesting its Plutonic mine in Western Australia to Northern Star Resources for A$25 million (US$22 million). The deal is expected to close in February. The mine produced 86,000 oz. gold in the first nine months of 2013 at all-in sustaining costs of US$1,110 per oz.
Mediterranean Resources’ shares jumped 50% to $0.03 apiece after news Jan. 2 that Lionsbridge Pty., an Australian company controlled by the Wesson family, will raise up to C$7 million as a private placement into the company. The deal would see the junior’s antimony projects in Spain, currently in a subsidiary called International Antimony Mines, spun out as a separate listing on the TSX Venture Exchange and Mediterranean’s current management resign. Lionsbridge will take over management of the company and Westech, a consultancy owned by the Wesson family, will be retained for project engineering to complete the remaining requirements of the company’s projects in Turkey. Mediterranean Resources is developing two mines at its 100%-owned Red Mountain (Kizildag) project in northeastern Turkey. Tac is a gold-copper deposit and Corak a gold-zinc-lead deposit.
Regina’s Leader-Post reported Jan. 2 that the new owners of Russian potash producer Uralkali would rejoin the Belaruskali potash cartel, but the news didn’t seem to lift the spirits of investors in Potash Corp. of Saskatchewan as shares fell 62¢ to $34.74. In early December Canada’s largest potash producer announced that it will be cutting its workforce in Canada, the U.S. and Trinidad by 18% due to sluggish demand for its potash and phosphate fertilizer products in developing markets, where growth has been slowing.
TSX most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Colossus Minls | CSI | 32764 | 0.12 | 0.04 | 0.07 | – | 0.02 |
| Kinross Gold | K | 9286 | 4.91 | 4.5 | 4.81 | + | 0.1 |
| Barrick Gold | ABX | 8872 | 19.68 | 17.97 | 19.31 | + | 0.63 |
| Goldcorp | G | 8747 | 24.35 | 22.06 | 23.71 | + | 0.6 |
| B2Gold | BTO | 8651 | 2.32 | 2.11 | 2.31 | + | 0.02 |
| Osisko Mng | OSK | 7044 | 5.04 | 4.53 | 4.93 | + | 0.22 |
| Detour Gold | DGC | 6880 | 5.04 | 3.83 | 4.94 | + | 0.75 |
| Turquoise Hill | TRQ | 6112 | 3.51 | 3.2 | 3.24 | – | 0.25 |
| Yamana Gold | YRI | 5931 | 9.65 | 8.9 | 9.41 | + | 0.08 |
| Lundin Mng | LUN | 5872 | 4.7 | 4.51 | 4.64 | + | 0.07 |
TSX greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Hard Creek Ni | HNC | 703 | 0.06 | 0.04 | 0.06 | + | 140 |
| CaNickel Mng | CML | 69 | 0.31 | 0.1 | 0.21 | + | 75 |
| Goldgroup Mng | GGA | 385 | 0.15 | 0.08 | 0.14 | + | 68.7 |
| Mediterrn Res | MNR | 58 | 0.03 | 0.02 | 0.03 | + | 50 |
| Atna Res Ltd | ATN | 1119 | 0.17 | 0.11 | 0.15 | + | 45 |
| Carlisle Goldf | CGJ | 582 | 0.06 | 0.05 | 0.06 | + | 37.5 |
| TriAusMin | TOR | 1157 | 0.05 | 0.03 | 0.04 | + | 33.3 |
| Wallbridge Mng | WM | 183 | 0.08 | 0.07 | 0.08 | + | 33.3 |
| American Bonan | BZA | 832 | 0.02 | 0.02 | 0.02 | + | 33.3 |
| Revolution Res | RV | 26 | 0.02 | 0.02 | 0.02 | + | 33.3 |
| Cerro Grande M | CEG | 58 | 0.03 | 0.02 | 0.02 | – | 33.3 |
| South Am Silvr | SAC | 373 | 0.43 | 0.29 | 0.3 | – | 28.5 |
| Colossus Minls | CSI | 32764 | 0.12 | 0.04 | 0.07 | – | 18.7 |
| INV Metals | INV | 194 | 0.03 | 0.03 | 0.03 | – | 16.6 |
| Rio Novo Gold | RN | 882 | 0.08 | 0.06 | 0.06 | – | 15.3 |
| Silver Bear Rs | SBR | 86 | 0.09 | 0.08 | 0.09 | – | 15 |
| Witwatersrand | WGR | 20 | 0.91 | 0.84 | 0.9 | – | 12.6 |
| Sunward Res | SWD | 95 | 0.21 | 0.17 | 0.18 | – | 12.5 |
| Verde Potash | NPK | 64 | 0.49 | 0.44 | 0.44 | – | 12 |
| Canarc Res | CCM | 172 | 0.05 | 0.04 | 0.04 | – | 11.1 |
TSX greatest value change
| Company | Symbol | Change | Close | Change | |
| Royal Gold | RGL | 23578 | 52.21 | + | 2.43 |
| Altius Mnrls | ALS | 155777 | 12.78 | + | 0.78 |
| Detour Gold | DGC | 6879576 | 4.94 | + | 0.75 |
| Seabridge Gold | SEA | 134858 | 8.56 | + | 0.7 |
| Barrick Gold | ABX | 8872004 | 19.31 | + | 0.63 |
| Centerra Gold | CG | 1520050 | 4.79 | + | 0.61 |
| Goldcorp | G | 8747293 | 23.71 | + | 0.6 |
| Kirkland Lk Gd | KGI | 881325 | 3 | + | 0.54 |
| Silver Wheaton | SLW | 4233541 | 22.47 | + | 0.53 |
| Energy Fuels | EFR | 155651 | 6.58 | + | 0.53 |
| Horizns G Bear | HGD | 1434069 | 20.36 | – | 1.21 |
| Agrium | AGU | 774373 | 96.53 | – | 1.04 |
| Walter Energy | WLT | 34178 | 17.01 | – | 0.88 |
| Cameco Corp | CCO | 2422804 | 21.39 | – | 0.64 |
| Potash Cp Sask | POT | 3730271 | 34.74 | – | 0.62 |
| Teck Res B | TCKB | 4182250 | 26.89 | – | 0.55 |
| Turquoise Hill | TRQ | 6111776 | 3.24 | – | 0.25 |
| North Am En Pa | NOA | 10590 | 6.1 | – | 0.15 |
| Witwatersrand | WGR | 20000 | 0.9 | – | 0.13 |
| South Am Silvr | SAC | 372899 | 0.3 | – | 0.12 |
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