PotashCorp’s profits rise on greater potash demand
Potash Corp. of Saskatchewan (POT-T, POT-N) says renewed potash demand has lifted its first-quarter profits to $556 million, or 63¢ per share, up 13% from the same period last year.
News
TSX makes gains in May, Apr. 29 – May 3
The S&P/TSX Composite Index shrugged off fears that this May would be like the last two and bring about a sell-off. Rather than sliding, the Index headed into the month looking strong, posting a 155-point gain to climb to 12,438.03 for the…
Allana closes in on Ethiopian potash development
VANCOUVER — Toronto-based junior Allana Potash (AAA-T) sees 2013 as a pivotal year for its wholly owned Dallol potash project in Ethiopia’s northeastern Danakil Depression, and since filing its last mining application in late April,…
Metals, mining and money markets
Spot pricesCourtesy of ScotiabankTuesday, May 7, 2013 Precious MetalsPrice…
Argonaut unveils Veta Madre resource at La Colorada
The La Colorada deposit in Sonora Mexico has come a long way since Jesuit missionaries first staked the ground and mined the Minas Prietas zone in the mid-1700s. From 1860 to 1914 the deposit was mined from underground (production was shut…
TSX Venture stays the course, Apr. 29 – May 3
The S&P/TSX Venture Composite Index had trouble mustering momentum during the trading week despite promising economic news out of Canada and the U.S., as well as a surge in crude oil prices driven by heightened conflict in the Middle East….
Glencore Xstrata promises fiscal discipline
VANCOUVER — It was not always a smooth process and it took a year to gel, but Glencore International has completed its US$29-billion takeover of Xstrata, with the merged company trading as Glencore Xstrata (GLEN-L) and boasting a…
First Majestic to join top-tier silver miners
First Majestic Silver (FR-T, AG-N) is eyeing senior producer status as it expands Del Toro — its fifth silver mine in Mexico — and improves operations at its four other mines in the country to drive its annual silver production…
Yamana’s Q1 profits plunge as costs rise
Despite producing more gold than a year ago, Toronto-based Yamana Gold (YRI-T, AUY-N) wasn’t able to buck the trend of miners posting shrinking first-quarter profits amidst dipping metal prices. Profit for the first quarter of…
Commentary: How to pick gold stocks in a falling gold price environment
BMO Capital Markets’ recent report entitled “Flight to Quality” is perfectly timed for investors who have had their emotions roiled by the latest downswing in the gold price.
Short Position Report
TSX Short Positions Short positions outstanding at Apr. 30/13 (with changes from Apr….
Lac Lamle off to a good start
Fancamp Exploration’s (FNC-V) first resource estimate on its Lac Lamêlée South iron project in the Fermont mining district of Quebec has outlined 520 million tonnes grading 39.5% iron at a 22% iron cut-off grade—about…