Metals, mining and money markets

Spot prices
Courtesy of Scotiabank
Tuesday, December 24, 2013
Precious Metals	Price (US$/oz.)	Change
Gold	$1,196.50	-40.75
Silver	$19.40	-0.62
Platinum	$1,327.00	-34
Palladium	$696.00	-22
Base Metals	Price (US$/tonne)	Change
Nickel	$14,213.00	-140
Lead	$2,247.50	15.5
Copper	$7,282.75	42
Zinc	$2,074.00	18

LME warehouse levels
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, December 19, 2013 (change from December 12, 2013 in brackets):
Aluminium Alloy	56580	(-1860)
Aluminium	5467825	(-1640)
Copper	383925	(+55725)
Lead	217475	(-12150)
Nickel	255120	(-5775)
Tin	10210	(+96)
Zinc	900100	(-23025)

Producer and dealer prices

Antimony FOB China: Mid-mkt US$9,400/t
Bismuth: Mid-mkt US$8.90/lb.
Cadmium 99.9: Mid-mkt US$0.93/lb.
Coal: CME Group Central Appalachian Coal Futures
Jan. 2014: US$54.89; Feb. 2014: US$55.20
Cobalt 99.8: US$12.50/lb.
Copper: Comex Copper Futures Jan. 2014: US$3.346/lb.; Comex Feb. 2014: $3.333/lb.
Germanium: US$1,350/kg.
Indium: NY Dealer Mid-mkt US$650.00/kg.
Iridium: Mid-mkt US$415.00/tr. oz.
Magnesium FOB China: Mid-mkt US$2,900.00/t.
Manganese FOB China: Mid-mkt US$2,350.00/t.
Molybdenum Oxide: US$9.75/lb.
Rhodium: Mid-mkt US$920.87/tr. oz.
Ruthenium: Mid-mkt US$57.00/tr. oz.
Selenium: Mid-mkt US$28.00/lb.
Silver: Base: US$19.91; Fabricated: US$23.89; Sterling: US$18.46
Tungsten: APT Tungstate FOB China mid-mkt: US$390.00 per mtu
Uranium: U3O8, Trade Tech spot price: US$34.50/lb.; Uranium Exchange Co. spot price: N.A.
Ferrovanadium: US$25.00/kg; Vanadium-Pentoxide: US$6.00/lb.
Prices current Dec. 18, 2013

Daily metal prices
Date	19-Dec	18-Dec	17-Dec	16-Dec	13-Dec
BASE METALS	(London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)
Al Alloy	1780/1810	1795/1830	1790/1825	1795/1830	1780/1810
Aluminum	1735/1781	1749/1796.50	1745/1790	1745/1790	1735/1781
Copper	7218/7216.50	7228/7226.50	7285.50/7270	7325/7305	7218/7216.50
Lead	2137/2162.50	2131/2160	2149.50/2175	2151/2170	2137/2162.50
Nickel	14065/14140	14030/14100	13910/13965	14055/14135	14065/14140
Tin	22845/22825	22740/22700	22750/22750	22845/22845	22845/22825
Zinc	1976/1987.50	1994.50/1995.50	1989/1993	1992/1990	1976/1987.50
PRECIOUS METAL PRICES (London fix, US$ per troy oz.)
Gold AM	1205.25	1233.25	1237.25	1229.5	1222.75
Gold PM	1196	1230.5	1231.75	1234.75	1232
Silver	19.34	19.94	20.02	19.5	19.55
Platinum	1321	1354	1254	1355	1367
Palladium	700	709	713	717	723

Exchange rates
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)
Date	19-Dec	18-Dec	17-Dec	16-Dec	13-Dec
US$ in C$	1.0676	1.0645	1.061	1.0577	1.0595
C$ in US$	0.9367	0.9394	0.9425	0.9454	0.9438
EXCHANGE RATES (Bank of Canada, Dec 19, 2013)
Currency	Aus $	Euro	Japan	Mex P	SA Rand	UK £
In C$	0.9457	1.459	0.01025	0.08232	0.1028	1.7488
In US$	0.8858	1.3666	0.0096	0.07711	0.9629	1.6381

Canadian gold mutual funds
Fund name	Dec. 16	Dec. 9	Change	Change	YTD	MER*	Assets*
	($)	($)	($)	(%)	(%)	(%)	(M$)
AGF Pr Mtl	16.5	16.38	-5.67	-39.4	-44.35	2.56	698.9
Altamira Pr & Str Mtl	8.46	8.35	-5.71	-37.7	-42.57	2.35	83.5
BMO Junior Gold Index ETF	6.2	6.06	-2.78	-51.5	-56.05	0.58	108.4
BMO Pr Mtl	12.78	12.48	-2.75	-39.2	-43.15	2.29	133.6
CIBC Pr Mtl	8.98	8.98	-4.62	-41.1	-47.06	2.4	141.8
Dynamic Can Pr Mtl	5.34	5.24	-6.43	-52	-58.12	1.65	811.6
London Life Precious Mtl	17.14	17.01	-8.38	-44.2	-49.39	3.37	259.2
Middlefield Precious Metals	5.76	5.72	-12.38	-46.1	-51.59	2.48	8.5
RBC Global Pr Mtl	21.84	21.6	-3.19	-39.9	-45.16	2.04	1380.4
Sentry Pr Mtl Growth	25.24	24.77	2.76	-46.8	-52.6	2.75	731.5
Sprott Gold and Pr Minls	23.92	23.67	-11.45	-47.8	-51.55	2.84	854
Sprott Gold and Pr Minls F	25.54	25.28	-10.69	-47.4	-51.1	1.78	n/a
TD Pr Mtl	27.57	27.4	-7.05	-37.3	-42.8	2.15	313.9
TD Pr Mtl-A	5.82	5.78	-7.18	-37.4	-42.86	2.31	n/a
iShares TSX Global Gold Index	9.69	9.43	-5.17	-42.1	-48.12	0.55	802.1
Featured fund: CIBC Precious Metals top holdings as of 09/30/13 (in weighted order): Randgold, B2Gold, New Gold, Silver Wheaton, Primero Mining, Goldcorp, Agnico Eagle Mines, Tahoe Resources, Yamana Gold. Fund manager: Craig Porter.

81.59

North American stock exchange indices
						52-week
Date	19-Dec	18-Dec	17-Dec	16-Dec	13-Dec	High	Low
TSX Composite	13392.2	13334.73	13180.16	13184.41	13125.7	13517.02	11759.04
S&P/TSX-Ven Comp	887.17	890.77	886.07	890.66	894.47	1247.01	859.31
S&P TSX 60	770.21	766.43	756.18	757.02	752.92	780.25	677.55
Global Gold	151.52	154.4	155.21	155.63	154.45	307.67	149.96
TSX Metals & Mining	740.88	720.73	712.52	715.16	715.01	1050.76	662.2
Gold & Silver XAU	80.41	82.6	82.94	82.15	169.97	79.73
Amex Gold Bugs	190.17	193.5	196.4	197.32	195.57	455.35	188.39

TSX short positions
Short positions outstanding at Dec. 15/13 (with changes from Nov. 30/13).
Largest short positions
Lundin Mining	LUN	62894431	911969
New Gold	NGD	47205108	-1513935
Osisko Mining	OSK	43720790	7933936
Kinross Gold	K	34441544	-1.6E+07
Detour Gold	DGC	27411973	8765669
Eldorado Gold	ELD	25731228	-1.5E+07
Barrick Gold	ABX	24026847	19203343
Tahoe Res.	THO	19224544	-353367
B2gold	BTO	17441864	-1702194
Turquoise Hill	TRQ	16812183	-1.5E+07
Thompson Creek.	TCM	16376008	-2023183
Dundee Prec.	DPM	13637493	-78657
Potash Corp	POT	12593928	25417
First Majestic	FR	11433837	4333631
Argonaut Gold	AR	11114957	-20154
Largest increase in short position
Barrick Gold	ABX	24026847	19203343
Detour Gold	DGC	27411973	8765669
Turquoise Hill	TRQ.RT	8616118	8616118
Osisko Mining	OSK	43720790	7933936
First Majestic	FR	11433837	4333631
Largest decrease in short position
Yamana Gold	YRI	6745071	-1.7E+07
First Quantum	FM	6348683	-1.6E+07
Kinross Gold	K	34441544	-1.6E+07
Turquoise Hill	TRQ	16812183	-1.5E+07
Eldorado Gold	ELD	25731228	-1.5E+07

TSX Venture short positions
Short positions outstanding at Dec. 15/13 (with changes from Nov. 30/13).
Largest short positions
Fission Uranium	FCU	1579556	-2253980
Great Western	GWG	865500	29500
Tasman Metals	TSM	786905	-307000
Sirios Resources	SOI	477500	43500
Mason Graphite	LLG	422800	422300
Big North Graphite	NRT	355000	138000
Sunridge Gold	SGC	326000	-73000
Zenyatta Ventures	ZEN	317906	5243
New Destiny Mining	NED	300000	300000
Arianne Phosphate	DAN	297800	32300
Huldra Silver	HDA	255000	140000
Whetstone Minerals	WMI	230000	230000
Graphite One	GPH	200000	114000
First Bauxite	FBX	197700	197700
Mammoth Resources	MTH	190000	55000
Largest increase in short position
Mason Graphite	LLG	422800	422300
New Destiny	NED	300000	300000
Whetstone Minerals	WMI	230000	230000
First Bauxite	FBX	197700	197700
Mukuba Resources	MKU	169000	169000
Largest decrease in short position
Fission Uranium	FCU	1579556	-2253980
Revolver Resources	RZ	200	-2000800
Robex Resources	RBX	0	-1780000
Tasman Metals	TSM	786905	-307000
Passport Potash	PPI	111000	-248000