TSX rises, Aug. 2-6

The S&P/TSX Composite Index rose 0.93% to finish the August 2-6 trading week at 20,475.40. The Global Mining Index fell 2.64% and the S&P/TSX Global Base Metals Index dropped 1.11%. The S&P/TSX Global Gold Index lost 4.42% to 295.18 and spot gold fell US$50.70 to US$1,763.10 per ounce.

Nutrien jumped 56¢ to $74.74 per share. The company announced that it had signed a collaboration agreement with EXMAR to jointly develop and build a l0w-carbon, ammonia-fueled vessel. The collaboration aims to reduce Nutrien’s maritime transportation emissions. Nutrien is one of the world’s largest producers of low-carbon ammonia and EXMAR is a leading player and innovator in the transportation of liquefied gas products.

Shares of SSR Mining rose 48¢ to $20.79. The company reported second-quarter production of 199,673 gold-equivalent ounces at all-in sustaining costs of US$961 per ounce and generated US$100 million in free cash flow. The company reported a quarterly cash dividend of US5¢ per common share payable on September 3. In the first six months of the year, SSR Mining produced 395,750 gold-equivalent oz. at AISCs of US$983 per ounce. The company reported second-quarter attributable net income of US$54 million, or US25¢ per share. SSR Mining has four producing assets in the United States (Marigold), Turkey (Copler), Canada (Seabea) and Argentina (Puna). In 2020 the company produced 711,000 gold-equivalent ounces. It also has a pipeline of development assets in the U.S., Turkey, Mexico, Peru and Canada.

Lithium Americas rose 35¢ to $18.57 per share. The company reported that construction activities at its Cauchari-Olaroz project in Argentina remain on track to achieve first production by mid-2022 on the initial operation, producing 40,000 tonnes of lithium-carbonate equivalent (LCE) per year. The company said the solid-liquid separation plant is over 73% complete; the solvent extraction (SX) plant is 65% complete; and the potassium chloride plant over 67% complete. In May, the company in partnership with Ganfeng Lithium, approved development planning for a second stage expansion of at least an additional 20,000 tonnes of LCE a year. Lithium Americas also said it expected the results of its feasibility study on the first phase of the Thacker Pass project in Nevada (for at least 30,000-35,000 tonnes of LCE per year) before the end of the year. At the end of June, the company had US$505 million in cash and equivalents and US$156 million in undrawn credit.

Shares of B2Gold fell 37¢ to $4.86. The company reported total gold production in the second quarter of 211,612 oz. of gold (including 14,232 oz. of attributable production from Calibre Mining Corp.), and consolidated gold production of 197,380 oz. gold from its three operating mines. Total all-in sustaining costs came in at US$1,016 per oz. sold and consolidated AISCs from the company’s three operating mines was US$1,011 per oz. sold.