Toronto stocks recovered from the previous report period’s slip, with the S&P-TSX Composite Index grabbing 176.84 points to hit 111,883.31 by the end of the Feb. 28-March 6 trading period. The golds advanced 10.08 points to 275.47, as the diversified brethren climbed 13.86 points to 439.28. All of the shinnies and base metals finished higher.
Bema Gold put gold’s US$12-per-oz. jump to US$565.26 to best use, busily trading nearly 62 million shares 38 higher to $5.06. The mid-tier producer expects to pour 381,000 oz. gold at US$356 apiece in 2006. EuroZinc Mining placed a distant second on a volume basis, tacking on 8 to make $1.72 with 33.6 million shares on the go. The company ended 2005 with record earnings of US$88.3 million and revenues of US$314.9 million. Eldorado Gold grabbed the bronze, with more than 25 million shares making their way 17 higher to $4.94.
Meanwhile, silver producers fared well as their metal advanced 5.7% to a long-time high of $10.22 per oz. Minco Silver stood out, jumping $1.39, or 47.1%, to $4.34. Drilling on its Fuwan project in southern China yielded 168-1,183 grams silver per tonne over 2.4-8.7 metres. The company bought out its Chinese partner earlier this year in return for $1.6 million in cash and a 10% net profit interest. Minco’s parent Minco Mining & Metals, with a 56% stake, jumped 28.7% to $2.78.
Silver Standard Resources owns around 19% of Minco Silver with an option for up to 30%; its shares gained $1.25 to $20.27. Silver Standard recently boosted resources at its Pitarrilla silver project in Mexico by 30%. In Peru, trenching at its San Luis property returned up to 4.2 metres of 134 grams gold and 2,246 grams silver per tonne.
Vancouver-based Silvercorp Metals finished 31% better at $13.10 amid heavier-than-normal traffic. An updated resource estimate for the Ying silver-lead-zinc project in China is expected by the end of April. The company plans to spend around $15 million building a 600-tonne-per-day-mill in 2006. The funds will also go toward exploration, mine development, mining and processing.
Also rising on silver’s good fortune were Silver Wheaton’s warrants, with the A-series up 25% to $1.15, and regular warrants 22.7% better at $1.35. The company’s common shares finished $1.40, or 15.5% better, at $10.43. A recently agreed up-front payment of US$285 million to Swiss commodities trader Glencore International will allow Sliver Wheaton to buy some 95 million oz. of Peruvian silver at a starting rate of US$3.90 per oz. over 20 years.
Canada’s lone primary palladium producer North American Palladium used a 6% increase in the silvery-white metal to recover from its recent stumble. The issue finished 66, or 5.7% higher, at $12.26. A sharp drop in production at the Lac des les mine, near Thunder Bay, Ont., pushed NAP into the red to the tune of $53.6 million during 2005.
TSX greatest percentage change
VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Minco Silver | MSV | 670 | 4.50 | 3.00 | 4.34 | +47.1 |
Opawica Expl | OPW | 18369 | 0.19 | 0.115 | 0.165 | +32.0 |
Globex Mng | GMX | 632 | 4.34 | 2.90 | 4.18 | +31.8 |
Silvercorp Mtl | SVM | 3064 | 13.49 | 9.65 | 13.10 | +31.0 |
Minco Mng & Me | MMM | 2071 | 2.94 | 2.06 | 2.78 | +28.7 |
Golden Queen | GQM | 262 | 0.68 | 0.49 | 0.62 | +25.2 |
Sulliden Expl | SUE | 980 | 0.79 | 0.57 | 0.75 | +25.0 |
Silver Wtn wtA | SLW.WT.A | 2053 | 1.34 | 0.88 | 1.15 | +25.0 |
Silver Whtn wt | SLW.WT | 3536 | 1.49 | 1.08 | 1.35 | +22.7 |
Ashtn Mng Cda | ACA | 738 | 1.60 | 1.25 | 1.53 | +22.4 |
Gabriel Res wt | GBU.WT | 118 | 1.15 | 0.80 | 0.80 | -23.8 |
Asia Pac Res | APQ | 2002 | 0.13 | 0.105 | 0.105 | -22.2 |
Zaruma Res | ZMR | 1675 | 0.135 | 0.11 | 0.11 | -21.4 |
Cline Mng | CMK | 385 | 0.70 | 0.55 | 0.55 | -17.9 |
Blue Pearl wt | BLE.WT | 425 | 2.66 | 2.01 | 2.06 | -17.2 |
Rex Diamond | RXD | 86 | 0.14 | 0.12 | 0.12 | -14.2 |
Goldstake Exp | GXP | 215 | 0.17 | 0.15 | 0.15 | -14.2 |
Blue Pearl Mng | BLE | 4193 | 3.37 | 2.68 | 2.71 | -14.2 |
Stornoway Diam | SWY | 1177 | 1.21 | 0.99 | 1.03 | -14.1 |
Jaguar Nickel | JNI | 1534 | 0.345 | 0.28 | 0.295 | -13.2 |
TSX greatest value change
VOLUME | CLOSE | CHANGE | ||
Teck Comin B | TEK.SVB | 5878506 | 73.31 | +3.31 |
Goldcorp | G | 12013881 | 32.00 | +3.12 |
Silvercorp Mtl | SVM | 3063738 | 13.10 | +3.10 |
Aber Diamond | ABZ | 861485 | 46.00 | +2.93 |
First Quantum | FM | 1165209 | 38.05 | +2.80 |
Gammon Lk Res | GAM | 3872737 | 20.30 | +1.93 |
Pan Am Silv wt | PAA.WT | 33274 | 16.03 | +1.63 |
Pan Am Silver | PAA | 1140478 | 27.36 | +1.53 |
Meridian Gold | MNG | 2839974 | 30.09 | +1.48 |
Agnico-Eagle | AEM | 3192260 | 30.90 | +1.465 |
Newmont Mng | NMC | 780829 | 57.99 | -4.355 |
Royal Gold | RGL | 31770 | 34.20 | -2.57 |
Potash Cp Sask | POT | 1542720 | 106.67 | -2.25 |
New Gold | NGD | 745658 | 9.20 | -0.50 |
Blue Pearl Mng | BLE | 4193324 | 2.71 | -0.45 |
Blue Pearl wt | BLE.WT | 425255 | 2.06 | -0.43 |
Jaguar Mng | JAG | 1094509 | 5.25 | -0.37 |
Linear Gold | LRR | 345182 | 6.90 | -0.37 |
Gabriel Res | GBU | 3090097 | 2.47 | -0.29 |
Greystar Res | GSL | 293070 | 8.55 | -0.25 |
TSX most active issues
VOLUME | WEEK HIGH | LOW | CLOSE | CHANGE | |||
Bema Gold | BGO | 61991 | 5.29 | 4.63 | 5.06 | + | 0.38 |
EuroZinc Mng | EZM | 33623 | 1.88 | 1.59 | 1.72 | + | 0.08 |
Eldorado Gold | ELD | 25452 | 5.36 | 4.75 | 4.94 | + | 0.17 |
Kinross Gold | K | 21474 | 11.61 | 10.37 | 10.71 | + | 0.05 |
Opawica Expl | OPW | 18369 | 0.19 | 0.115 | 0.165 | + | 0.04 |
Breakwater Res | BWR | 17131 | 1.12 | 0.96 | 1.06 | + | 0.06 | Barrick Gold | ABX | 16535 | 32.25 | 30.57 | 31.26 | + | 0.04 |
Cambior Inc | CBJ | 16519 | 3.70 | 3.21 | 3.44 | + | 0.23 |
Yamana Gold | YRI | 16331 | 10.70 | 9.85 | 10.44 | + | 0.24 |
Paladin Res | PDN | 13613 | 3.30 | 2.92 | 3.18 | + | 0.35 |
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