Advanced Explorations drops on feasibility study
Shares of Advanced Explorations (AXI-V) plunged 37% following the results of its feasibility study on the Roche Bay iron project on the Melville Peninsula in Nunavut.
Volume 98 Number 28 Aug 27 - Sep 2, 2012
Honouring Timmins’ mine finders
Led by association president Dean Rogers, northern Ontario’s Porcupine Prospectors and Developers Association has erected three bronze statues to honour legendary gold mine finders (from left): Jack Wilson of the Dome mine, Sandy McIntyre…
Toronto Stock Exchange
The S&P/TSX Composite Index jumped 199 points, or 1.7% during the trading week, to close at 12,089.89. The boost came in part from positive economic data and Germany’s commitment to save the euro currency union. The S&P/TSX Global…
TSX Venture Exchange
The S&P/TSX Venture Composite Index rallied to its highest level since July during the period, rising 42 points, or 3.6%, en route to a 1,233.17 weekly close. Spot gold rose to US$1615.80 per oz. to finish the week, and silver continued to…
US markets
The Dow Jones Industrial Average and the S&P 500 Index posted gains for the sixth consecutive week, buoyed by comments from German Chancellor Angela Merkel that she supports the European Central Bank’s efforts to fight debt, and…
Metals, mining and money markets
SPOT PRICESCourtesy of ScotiaBankTuesday, August 7, 2012 Precious MetalsPrice…
Short position reports
TSX Short Positions Short positions outstanding at July 31/12 (with changes from July 15/12). Largest Short Positions…
Barkerville in the doghouse with BCSC
The British Columbia Securities Commission (BCSC) has halted trading in Barkerville Gold Mines (BGM-V) because a much-anticipated technical report on its Cow Mountain gold deposit is not up to standard.
Primero’s star rises in the west
The industry expected big things from Toronto-based Primero Mining (P-T, PPP-N) when it acquired the San Dimas gold-silver mine in Mexico for US$500 million from Goldcorp (G-T, GG-N) just over two years ago. But things did not always go…
Mexico buoys Pan American in stormy seas
Thanks to its acquisition earlier this year of the Dolores silver mine in northern Mexico, Pan American Silver (PAA-T, PAAS-X) set a new quarterly record for gold production and posted the second-highest silver production in…
Franco-Nevada, Inmet sign Cobre Panama deal
Inmet Mining (IMN-T) has closed a financing deal with streaming and royalty company Franco-Nevada (FNV-T, FNV-N) worth US$1 billion. It’s a bid to cover a funding shortfall at Inmet’s US$6.2-billion Cobre Panama copper-gold…
Palmarejo delivers for Coeur
Of Coeur d’Alene Mines’ (CDM-T, CDE-N) five producing precious metals mines, Palmarejo in northern Mexico is the largest contributor to the company’s sales and cash flow. Metal sales from the mine in Chihuahua state last year…