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Contact David Danziger at 416.641.4940
General Moly
Releases prefeasibility
study for Liberty
$3.50 • AUGUST 11-17, 2014 • VOL. 100, NO. 26 • SINCE 1915
Giants of mining
share wisdom at
Sprott symposium
BY GWEN PRESTON
VANCOUVER — The Sprott Natural Resource Symposium in Vancouver in late July gathered a remarkable group of industry success
stories. Robert Friedland, the legendary founder and chairman of
Ivanhoe Mines (TSX: IVN; USOTC: IVPAF), opened the conference. Sprott U.S. Holdings chairman Rick Rule, another serially
successful investor, spoke several
times. And a selection of the sector’s best fund managers, newsletter writers, explorers and corporate execs took turns at the podium.
But the best panel brought together nine industry heavyweights
to field some big-picture questions.
Panellist Robert Quartermain is
president and CEO of Pretium Resources (TSX: PVG; NYSE: PVG),
which is advancing the high-grade
Brucejack project in northwest B.C.
to production. Before Pretium he
presided over Silver Standard
Resources (TSX: SSO; NASDAQ:
SSRI) for 25 years, growing the
company from a junior explorer to
a substantial producer with a
$2-billion market capitalization.
Ronald Netolitzky has been associated with three major gold discoveries in Canada that have since
been put into production — Eskay
Creek, Brewery Creek and Snip —
as well a series of domestic uranium
discoveries and major international gold finds. He continues as a
director and manager of several
exploration companies.
Ronald Parratt is credited with
discovering more than 15 million oz.
gold in Nevada, which culminated
in Fronteer Gold’s acquisition of
Parratt’s AuEx Ventures. He continues to search for Nevada gold as
president of Renaissance Gold
(TSX: REN; US-OTC: RNSGF).
Ross Beaty is known as the exploration world’s ‘broken slot machine’ for his ability to repeatedly
produce huge returns for his shareholders. Over the last 25 years he
has started 12 public companies and
sold most of them, converting
about $1 billion of investment capital into shareholder wealth of more
than $5 billion. His biggest wins
came because Beaty recognized a
market bottom in the early 2000s
and filled companies’ portfolios
with large copper deposits, which
he grew as the copper price climbed
and sold for huge returns.
Andy Wallace is president of
Columbus Gold (TSXV: CGT;
US-OTC: CBGDF), which has a
suite of properties in Nevada and
See SPROTT, Page 17
San Gold to merge
with Kerr Mines
BY SALMA TARIKH
Winnipeg-based junior miner San
Gold (TSX: SGR; US-OTC:
SGRCF) is merging with Torontobased explorer and developer
Kerr Mines (TSX: KER; US-OTC:
AISDC). San Gold intends to use
the skills it honed turning around
its Rice Lake gold mine complex in
Manitoba on Kerr’s recently acquired Copperstone gold mine in
Arizona.
The proposed all-share combination reflects San Gold’s strategy
of running its Rice Lake complex
near Bissett, Man., at its highest
level to “match the geometry of the
orebodies,” the company’s president Gestur Kristjansson said in a
release.
Not too long ago, San Gold suffered from setting its production
targets too high and not meeting
them at its Rice Lake. This frustrated investors, as the junior operated the complex — consisting of
the 007, Hinge and Rice Lake mines
— at a loss.
To fix this problem San Gold
TNM Aug 11 2014 Issue.indd 1
changed its management team, hiring Kristjansson as president and
CEO and Mandeep Rai as chief financial officer in March. It later
gave the CEO role to mining veteran Greg Gibson in June.
Gibson initially joined San Gold
as a director last September and is
the CEO of Kerr Mines. He told
The Northern Miner that the operation is running at its proper run
rate and not as an annual 100,000
oz. producer.
“Rice Lake has basically figured
out what it wants to be when it
grows up, or what it has to be
when it grows up. It’s a 50,000 to
60,000 oz. producer of moderate
grade, and that’s what it is. It’s no
more or no less. It has taken this
long to figure it out, and that’s the
way we are going to mine it. If we
continue mining it to that recipe
it will be successful.”
Given Rice Lake was previously
envisioned as a bigger mine, it has
extra equipment and engineering,
and geology manpower available
See SAN GOLD, Page 2
Seabridge Gold
3
B.C. gives environmental
approval for KSM
5
Canad
a’s Eas
t
Pages
11-
14
Anaconda
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.WOL
TNM Aug
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Minco
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Complete tailings dam failure at
Imperial’s Mount Polley
Telephone
647 925
9457
14-08-0
6 6:49
PM
CARIBOO REGIONAL DISTRICT
Toxic waste flows through the breached wall of the tailings pond at Imperial Metals’ Mount Polley gold–copper mine,
140 km southeast of Quesnel, B.C.
BY SALMA TARIKH
Shares of Imperial Metals (TSX:
III; US-OTC: IPMLF) dropped 40%
after a dam for the tailings pond at
its Mount Polley gold–copper mine
in B.C.’s Cariboo region failed, spilling millions of cubic metres of waste
water and suspended mine waste
into nearby waterways.
The tailings dam breach happened on Aug. 4 and sent an “estimated 10 million cubic metres of
water and 4.5 million cubic metres
of fine sand into Polley Lake,” B.C.’s
Minister of Energy and Mines Bill
Bennett said. He added that “Hazeltine Creek flows out of Polley Lake,
and the flow may have continued
into Quesnel Lake.”
In an Aug. 5 news conference,
company president Brian Kynoch
said: “I apologize for what happened. If you’d asked me two weeks
ago if this could have happened, I
would have said it couldn’t.”
The dam was operating within
Centerra’s Atkinson
talks Kumtor,
M&A opportunities
BY MATTHEW KEEVIL
VANCOUVER — Centerra
Gold’s (TSX: CG; US-OTC:
CAGDF) wholly owned Kumtor
gold mine in the Kyrgyz Republic
— 350 km southwest of the capital
of Bishkek — is an ample cash generator, and president and CEO Ian
Atkinson says the company is now
able to explore more acquisition
opportunities thanks to its strong
balance sheet.
In fact, the only potential overhang for Centerra is the ongoing
restructuring of its ownership deal
with the Kyrgyz government,
though Atkinson adds that the parties have outlined a “road map forward” that could lead to a resolution.
“The [agreement] would bring
immediate benefits to the Kyrgyz
treasury through a direct interest
in Centerra, so they start to share
in the profits from Kumtor on an
annual basis. The government has
stated it is in their best interest to
move the process forward,” Atkinson says during an interview.
Kumtor is Centerra’s cornerstone, with proven and probable
reserves of 85.2 million tonnes
grading 3.1 grams gold per tonne
for 8.5 million contained oz.
Company-wide during the second quarter the company cranked
out 92,124 oz. gold at cash costs of
US$608 per oz. Kumtor accounted
for 77,860 oz. of that total, and with
the company hitting the high-grade
SB zone in mid-September, it estimates that half of its annual guidance will occur during the fourth
quarter. Centerra expects to produce between 550,000 and 600,000
oz. gold this year.
“We’re definitely still on track in
regards to our 2014 plan,” Atkinson
says. “Like so many companies
we’ve been maintaining a focus on
lowering our operating costs, and
we’ve had lower sustaining capital
design limits, and Kynoch doesn’t
know why it failed. “Until we do an
investigation, I’d be just speculating,” he says.
The company notes that the
dam’s monitoring instruments gave
no warning of a pending breach.
Aerial footage from the area
showed the extent of the massive
spill. Sludge and murky water
gushed down a creek. Debris and
logs floated at the water’s surface.
One road was washed away.
“The main slurry flow went down
Hazeltine Creek where it meets
Quesnel Lake. The slurry and a large
debris pile appear to be stationary
at this point,” the Cariboo Regional
District reported. Hazeltine Creek,
originally a metre wide, has now
swollen in size to 46 metres.
Imperial says the breach has been
stabilized, and no fatalities or injuSee IMPERIAL, Page 3
PM40069240 – PAP Registration #09263
See CENTERRA, Page 2
14-08-06 8:00 PM
2 AUGUST 11-17, 2014 THE NORTHERN MINER
Centerra CEO talks Kumtor
REGULAR
DEPARTMENTS
COMPANY INDEX
Careers............................. 11
Drillers.............................. 15
Editorial.............................. 4
Events................................. 5
Meetings............................ 5
Metal Prices........................ 7
Professional Directory.. 12-13
Stock Tables................... 6-10
Alderon Iron Ore.............. 14
AngloGold Ashanti........... 20
AQM Copper................... 20
Asanko Gold..................... 20
Atac Resources................. 19
Canterra Minerals............. 19
Centerra Gold..................... 1
Cliffs Natural Resources.... 13
Coeur Mining................... 18
Columbus Gold................... 1
Curis Resources................ 17
Endeavour Mining............ 20
General Moly...................... 3
Glencore................. 11,13,14
Gold Fields.......................... 2
Golden Star Resources...... 20
Imperial Metals................... 1
Ivanhoe Mines.................... 1
Kennady Diamonds.......... 19
Kerr Mines.......................... 1
Kinross Gold..................... 20
Labrador Iron Mines......... 14
Lincoln Mining.................. 17
Marathon Gold................. 14
Margaret Lake Diamonds. 19
Minco PLC........................ 11
Mountain Province
Diamonds.................... 19
Newmont Mining........ 17,20
Odin Mining and
Exploration.................. 17
Perseus Mining................. 20
Pilot Gold......................... 17
Premier Gold Mines.......... 13
Pretium Resources.............. 1
Pure Gold Mining............. 17
Rambler Metals & Mining.11
Renaissance Gold................ 1
San Gold............................. 1
Seabridge Gold................... 5
Silver Standard Resources... 1
Tata Steel Ltd.................... 14
Teck Resources................. 20
Trevali Mining.............. 11,13
Troy Resources................. 18
True Gold Mining............. 17
Wellgreen Platinum.......... 15
Wolfden Resources........... 13
STORIES WE’RE WORKING ON. . .
Since 1915
Our August 25 issue will include a special section focussed on
mining and exploration activity in Asia.
San Gold
CENTERRA GOLD
Centerra Gold’s flagship Kumtor gold mine in the Kyrgyz Republic, 350 km southwest of the capital Bishkek.
CENTERRA GOLD
Gold doré from Centerra Gold’s Kumtor gold mine in the Kyrgyz Republic.
CENTERRA, From Page 1
expenditures as well. Our two biggest on-site costs are labour and
diesel. In terms of our mining fleet
we completed a combination of expansion and replacement, which
really improved operating efficiency. We are seeing the benefits
of lower prices on tires and fuel as
well, so our unit costs have been
down.”
Cash provided by operations increased to US$72 million compared to US$41 million in the second quarter of 2013, though
Centerra recorded a US$29.6-million net loss in the first half of 2014,
compared to net earnings of US$53
million in the comparative period
of 2013. The decrease in earnings
is blamed on lower realized gold
prices, higher share-based compensation and an inventory impairment charge at Kumtor.
Centerra has a good capital po-
sition, however, as the company
finished the second quarter with
US$313 million in cash, US$179
million in short-term investments
and US$74 million in a revolvingcredit facility.
“We have a strong balance sheet,
and one of the uses we’re exploring
is to use that to grow the company,”
Atkinson says. “We are looking for
an additional operating platform
through merger-and-acquisition
activities, and that could take the
form of a currently operational
mine or an advanced-development
project. If we can find the right
asset that adds value to our portfolio, we’d certainly look at moving
forward on that front. We have
been Asia-focused since we went
public ten years ago, but the past
year and a half we’ve started to expand the regions where we’re looking for opportunities.”
In terms of organic growth opportunities Centerra is nearing the
permitting stages on a pair of advanced-staged gold assets: its
Oksut project in Turkey and Gat-
suurt property in Mongolia. The
company tabled a preliminary
economic assessment (PEA) on
Oksut in mid-February that modelled an open-pit, heap-leach mine
with a 19% internal rate of return
(IRR) that would produce 893,000
oz. gold over an 11-year life.
Atkinson comments that feasibility work is proceeding well at Oksut,
and that the company has filed paperwork with relevant government
agencies in Turkey to set dates for
the public-consultation meetings.
Meanwhile, Centerra is asking
the Mongolian government to advantageously label Gatsuurt a
“strategic project.” The country
has undergone some shifts in mining law recently following a moratorium on exploration licences
and permitting delays, but Atkinson says the company is “encouraged” by its talks with the government. Gatsuurt lies 35 km from
Centerra’s Boroo mine, which
produced 14,300 oz. during the
second quarter.
Atkinson says that the government “needs to get Gatsuurt on
the agenda for the parliamentary
session that starts in late September. If parliament accepts the recommendation to label the project
‘strategic,’ it will allow us to move
everything forward,” Atkinson
explains. “Over the past twelve
months there has been recognition in Mongolia of the need to
address the drop in foreign investment, especially in the resource
sector. The government and parliament are taking steps to do that,
and we’re optimistic about our
opportunities in the country.”
Centerra shares have a 52-week
range of $2.82 to $7.20, and fell 8%,
or 51¢, after its second-quarter
results, en route to a $5.81 close at
press time. There are 237 million
shares outstanding for a $1.4-billion market cap, and the company
declared a quarterly dividend of
4¢ per share.
Global Leader
Your Technical Services Partner in Geochemistry and Metallurgy
For more information, scan this QR
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RIGHT SOLUTIONS RIGHT PARTNER
KERR MINES
Equipment at Kerr Mines’ past-producing Copperstone gold mine in Arizona.
SAN GOLD, From Page 1
to operate another asset, which
explains why San Gold is eager to
merge with Kerr.
“The Rice Lake complex was
just way overbuilt, and you have
to support it with production,”
Gibson says. “And the focus of
both Kerr and San Gold is to produce ounces and not tonnes, so we
need the additional ounces, and
Copperstone delivers that in a
higher-grade operation that’s 85%
developed, with the full infrastructure in place.”
Gibson says the merger is a perfect way to grow San Gold and
reduce its debt. He notes the turnaround at Rice Lake is 80% complete, with the operation meeting
its monthly production guidance.
While more work is needed, Gibson stresses that the company has
reduced costs and increased recoveries.
During the first quarter, San Gold
reported a net loss of 2¢ per share,
up slightly from a 3¢-per-share loss
in the same period last year. Some
highlights during the period included putting in a new mine plan
and transitioning to long-hole mining. It slightly brought down the
total cost per ton to $106 and increased mill recoveries to 94%.
Gibson adds that the operation is
on track to produce positive cash
flow by year-end.
“San Gold has made tremendous
strides in its turnaround over the
past three months,” Kerr’s chairman Stephen McIntyre said in the
release. “The next step to creating
a mid-tier producer will be applying the same principles to the Copperstone property,” he added.
Kerr received the past-producing
Copperstone mine through its ac-
quisition of American Bonanza in
June. San Gold notes the property
is similar in size to the Rice Lake
mine, and could restart production
for little capital under a combined
management team.
Under the terms of the non-binding letter of intent, each Kerr shareholder will receive a number of San
Gold shares for every Kerr share
held, based on an exchange ratio
that will be determined shortly. The
companies will sign a definitive
agreement before September.
Along with Copperstone, Kerr
holds several gold properties near
Virginiatown, Ont., on the 200 km
long Cadillac–Larder break that
straddles the Ontario–Quebec border. These assets include the McGarry and Cheminis gold mines,
which it is exploring and developing in the Kirkland Lake area.
In May, Kerr received the Larder
Lake gold project through its acquisition of Bear Lake Gold. The project sits just west of the McGarry
mine and is under an option and
joint-venture agreement with Gold
Fields Abitibi Exploration, a subsidiary of Gold Fields (NYSE: GFI).
Kerr also has a five-year option
to buy the past-producing Kerr–Addison property, next to McGarry.
The Kerr–Addison gold mine was
one of Canada’s largest gold producers, generating more than 11 million oz. gold over its 58-year operating life that ended in 1996.
The proposed merger will have a
reciprocal break fee of $1 million.
San Gold has 373 million shares
outstanding, while Kerr plans to
consolidate its 1.3 billion shares to
88.2 million.
On the merger news, San Gold
closed July 21 up 3.4% at 15¢, while
Kerr fell 16.7% to 2.5¢.
14-08-06 8:00 PM
THE NORTHERN MINER
AUGUST 11-17, 2014
3
General Moly aims to restart
Liberty moly–copper mine in Nevada
VANCOUVER — Molybdenum
oxide prices have been on the rise
over the past six months — jumping
40% to sit at US$13.40 per lb. at press
time — and that’s good news for
U.S.-based General Moly (TSX:
GMO; NYSE-MKT: GMO) and its
portfolio of advanced-stage assets
in Nevada.
The company recently resolved
legal issues surrounding the Bureau
of Land Management (BLM) permits at its Mt. Hope moly project,
and on July 24 released a prefeasibility study (PFS) on its Liberty
moly–copper project that models a
long-life operation with relatively
reasonable capital requirements.
General Moly announced an upcoming preliminary economic assessment (PEA) at Liberty in April.
At the time the company outlined
an open-pit mine plan focusing on
early stage starter pits that would
target the project’s historic copper
resources.
According to technical reports
the highest-grade copper resources
are located in three satellite deposits southeast of the main moly orebody. Based on historic resource
calculations the deposits could
host 45 million to 91 million tonnes
of material averaging between
0.3% to 0.35% copper contained
mostly in chalcocite–digenite,
chalcopyrite and covellite mineralization, which is amenable to standard froth flotation.
Since that time, things have
changed for the company: moly
prices are still on the rise, and with
the quality of underlying data, General Moly has elevated its study to
the PFS level. The company’s concept subsequently transitioned to a
broader mine plan underpinned by
“maximizing upfront value based
on reasonable long-term copper
and molybdenum prices.”
“Optimization of the mine plan
includes incorporating a portion of
the shallow sulphide chalcocite
copper mineralization later in the
mine sequence, as its net realizable
value per [tonne] is less than some
of the existing resources containing high-grade molybdenum with
copper by-product mineralization,” CEO Bruce Hansen noted in
July.
What has emerged is a mine plan
that aims to leverage Liberty’s production history — which has left
General Moly with pre-existing
infrastructure and open-pit operations — to minimize development
costs. And based on the updated
PFS, it looks like the company has
succeeded.
Compared to an original PFS filed
in 2011, Liberty’s capital expenditures (capex) are down around
40%, or US$234 million, to US$366
million. The smaller operation
drops nameplate throughput capacity at the mill by 27% to 24,000
tonnes per day and drops mine life
by a decade to 32 years.
Complete tailings dam failure
CARIBOO REGIONAL DISTRICT
A bulldozer beside the breached portion of the tailings pond wall at Imperial Metals’ Mount Polley gold–copper mine.
IMPERIAL, From Page 1
ries have been reported.
The company is working with
government officials for equipment
to collect the debris from Quesnel
Lake.
Kynoch says Polley Lake is 1.5 metres above its normal level and that
steps are being taken to bring down
the water level, adding that no elevation is visible in Quesnel Lake.
Asked about the water’s quality,
Kynoch said the tailings are “not acid
generating,” but that the suspended
solids in the water contained low
arsenic and metal content.
Creek, as well as the Quesnel and
Cariboo River systems up to the
Fraser River. It impacts 300 to 400
residents and excludes those in Williams Lake, and other towns along
the Fraser River.
Imperial has placed the Mount
Polley mine on care and maintenance, putting the jobs of the operation’s 380 employees at stake.
“We need a few more days to see
what’s going to happen. But the
crews have been asked to stay at
home because we’re not operating
a mine,” Kynoch told concerned
residents at the conference.
Imperial has placed the Mount Polley mine
on care and maintenance, putting the jobs
of the operation’s 380 employees at stake.
Government officials are taking
water samples from Quesnel Lake,
with results expected out shortly.
As a precaution, the Cariboo regional district has issued a water
ban, advising people not to drink or
bathe in the water, or let their pets
or livestock drink the water.
The waterways affected by the
ban include Quesnel Lake, Polley
Lake, Hazeltine Creek and Cariboo
The company does not know
when operations would resume or
how many employees it will dismiss,
but Kynoch says Imperial accepts
full responsibility for the disaster.
Raymond James analyst Adam
Low estimates that the Mount Polley open-pit mine will remain
closed for at least the rest of the year
to provide “time for investigations,
reclamation of the damage and re-
GENERAL MOLY
General Moly’s Liberty moly–copper project near Tonopah, Nevada.
construction of the tailings dam.”
Looking at past mine-waste
spills, Low estimates it could cost
Imperial US$25 million to repair
the dam, and another US$50 million in environmental remediation
expenses. Legal costs to defend
potential environmental lawsuits
would be extra.
Low has reduced his target price
to $11.75 from $17.50, but kept his
“market perform” rating.
Meanwhile, the B.C. Ministry of
Environment says it had warned the
company about the mine’s tailings
pond levels several times before the
breach. Why the miner supposedly
ignored these warnings is unclear.
Imperial lost 40% or $6.82 to close
the day at $9.98, on more than 2 million shares traded.
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The updated mine plan results
in a total of 402 million lb. moly
and 308 million lb. copper production over life-of-mine, with grades
pegged at 0.078% moly and 0.098%
copper. This compares to original
production estimates of 598 million lb. moly and 534 million lb.
copper over a 42-year mine life,
with average mill grades of 0.068%
moly and 0.077% copper.
Anticipated on-site cash costs are
down US69¢ over the mine life to
US$6.29 per lb. moly, with copper
assumed as a by-product credit.
Total cash costs are estimated at
US$7.94 per lb. moly, which includes off-site roasting, smelting
and shipping.
Proven and probable “reserves” have declined, though
the decrease comes with a higher
grade. Total reserve-quality material is pegged at 280 million
tonnes grading 0.078% moly and
0.098% copper for 482 million
contained lb. moly and 606 million contained lb. copper. General Moly’s original mine plan
contemplated “reserves” of 490
million tonnes at 0.068% moly
and 0.08% copper for 739 million
contained lb. moly and 893 million contained lb. copper.
Moly price assumptions remain
unchanged at US$15 per lb., while
modelled copper prices have increased by US75¢ to US$3.25 per
lb. Liberty generates a US$325million after-tax net present value
(NPV) at an 8% discount rate and
a 17.4% internal rate of return
(IRR), assuming toll roasting. That
compares to a US$538-million
NPV and a 19.7% IRR under the
original model.
“The updated mine plan allows
us to leverage significant existing
infrastructure to reduce initial
capital costs while retaining the
capability to expand post start-up
and reduce operating costs. Liberty provides significant optionality and flexibility to develop at
a low entry capital investment
relative to its NPV,” Hansen
stated in the release, noting that
the project could begin construction in 2017 pending Nevada state
permits. He added that a “less favourable” economic plan could be
used for private lands if permitting is delayed.
General Moly shares have traded
within a 52-week range of 90¢ and
$3.60, and closed up 3% at $1.14 per
share at press time.
The company has 92 million
shares outstanding for a $102-million market capitalization, and reported US$17 million in cash at the
end of March.
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Northern Miner – May 26, 2014
1/8 page black and white – 4" × 5"
14-08-06 8:00 PM
EDITORIAL
EDITOR-IN-CHIEF:
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Mount Polley
tailings spill:
Imperial’s best not
good enough
The complete failure of the tailings dam at Imperial Metals’ Mount
Polley copper–gold mine in Central B.C.’s Cariboo region on Aug. 4
is the most depressing thing to have happened in Canadian mining
since the Bre-X Minerals debacle in 1997. It’s the worst tailings dam
failure tied to a Canadian company since the Los Frailes disaster in
Spain in 1998 (5 million cubic metres spilled) and the Omai spill in
Guyana in 1995 (2.3 million cubic metres spilled).
It’s about as big a tailings dam failure as you can get: some 15
million cubic metres of tailings muck has so far flowed out of the
mine’s tailings-impoundment area through a gaping hole in an
obliterated eastern portion of a huge dam wall.
To see the jaw-dropping scale of the devastation, watch the full
video of a helicopter survey of the affected area at http://youtu.be/
M1YgX2jXnpA, posted by the Cariboo Regional District authority.
The video takes 37 minutes, because the affected area is so huge:
the massive tailings facility itself, Polley Lake immediately to the
east and the deeply messed-up Hazeltine Creek, which empties
into the western reaches of the formerly pristine Quesnel Lake,
where there are critical salmon-spawning grounds.
In the video, huge amounts of material is actively flowing out of
the tailings facility in great, muddy torrents into Hazeltine Creek.
Have you ever seen a waterfall of mine tailings? It’s here in this
video, in the middle of Hazeltine Creek — a formerly 1-metre wide
trickle of wending water that is now a scoured-out 45 metres wide.
The trees that were ripped out from either side of the creek,
along with many tonnes of tailings, have been dumped at the
creek’s mouth into Quesnel Lake. The whole tailings area looks
abandoned in the video, with the only people visible being a few
stunned civilians in boats or on the shores of Quesnel Lake.
Quesnel Lake flows to the northwest into the Quesnel River,
which continues westward to the town of Quesnel, where it
empties into the mighty Fraser River, 80 km northwest of the
Mount Polley mine.
Mount Polley had been on track to produce 47,000 oz. gold, 44
million lb. copper and 120,000 oz. silver this year, but is now closed,
and will likely remain so for at least the rest of the year. The mine
cannot reopen until the current tailings facility is completely rebuilt
or a new one is created next door. Considering that the mine was
already running out of space to put its tailings, and there are no
obvious quick fixes, the mine will not reopen anytime soon. The
mine was slated to close in 2016, but Imperial had been working this
year to extend the mine’s life to 2023 by going underground.
A more pertinent question is whether Imperial will even survive
this setback in its current corporate form, as it gets caught in a
three-way crunch: disaster costs at Mount Polley rising into the
hundreds of millions; a loss of cash flow from Mount Polley; and
the continuing cash drain of completing the construction of its
wholly owned Red Chris copper–gold mine in northwest B.C.
But what makes all this particularly depressing is that Imperial
Metals is one of the class acts of Canadian mining, and the mine was
built by highly skilled Canadian miners to modern technical standards
in our own backyard. And the tailings were flowing uncontrolled
through the breach on a beautiful sunny summer day, not after some
catastrophic tsunami or once-a-century storm or flood.
And all that Imperial — representing the very best in Canadian
mining — could come up was this on the day of the disaster: “The
cause of the breach is unknown at this time. The dam . . . operated
within design limits and specifications. Monitoring instruments
and on-site personnel had no indication of an impending breach.”
In other words, “We ain’t got a clue, folks.”
The meeting the next day between Imperial president Brian Kynoch
and affected residents in Likely, B.C., had its moment of dark comedy,
too, when a feckless Kynoch told worried residents that of course he
would drink the water from the tailings facility, “once the solids come
out.” It’s about as meaningful as saying that of course you’d play
Russian roulette — once the bullets are taken out of the gun.
Send your Letters-to-the-Editor and op-ed submissions to the Editor-in-Chief at: [email protected],
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C O M M E N TA R Y
The Tsilhqot’in decision:
A view from Quebec
BY ERIK RICHER LA FLECHE
SPECIAL TO THE NORTHERN MINER
On June 26, 2014 the Supreme Court of
Canada recognized for the first time a First
Nation’s aboriginal title over an area outside
a reserve in Tsilhqot’in Nation vs. British
Columbia.
Since then much has been written on
whether the decision would have an adverse
impact on natural and infrastructure development across Canada, with some columnists and think tanks being alarmed at the
consequences the decision may have on
projects.
In Quebec, the decision has been taken in
stride by government and business. It is now
generally accepted in Quebec that natural
resource and infrastructure development
requires local acceptance, particularly
north of the 49th parallel in the territory
covered by Plan Nord. As such, Quebec is
emphasizing consensus building and, in the
final analysis, a sharing of the benefits of
development.
or decreases depending on the strength of the
claim. The more serious the claim, the more
onerous is the duty to consult and accommodate. The Tsilhqot’in decision should
strengthen many claims and as such impose
on governments a stronger duty to consult
and accommodate.
3. More comprehensive territorial agreements — In previous decisions the Supreme
Court placed the burden of negotiating
comprehensive treaties and territorial
agreements on governments. At this time
Quebec has comprehensive territorial
agreements with the Crees, Quebec’s largest First Nation. Three Innu First Nations
are currently negotiating with Quebec: the
Mashteuiatsh, the Essipit and the Natashquan. Quebec hopes that others will
follow. Quebec views these agreements favourably, as they appear to have been generally beneficial for all concerned.
— Based in Montreal and qualified to practice
in Quebec and Ontario, Erik Richer La Flèche
is a transaction lawyer at the law firm Stike-
In Quebec, the Tsilhqot’in decision has been taken
in stride by government and business.
In this light it is expected that the
Tsilhqot’in decision will have the following
limited consequences in Quebec:
1. Claim expansion — The Tsilhqot’in case
clarifies the criteria for recognition of aboriginal title over an area. These criteria are
more culturally sensitive and better reflect
the manner in which territory was historically
occupied by First Nations. As a result it is
expected that claims will cover larger areas,
including submerged lands and maritime
areas (see for example the recent statements
made by First Nations in Halifax over Gulf of
Saint Lawrence areas, including the Old
Harry offshore oil area).
2. Stronger duty to consult and accommodate — The Supreme Court previously held
that the duty to consult and accommodate
First Nations interests on land over which
aboriginal title or rights are claimed increases
man Elliott. He has advised corporations,
lenders and governments on M&A transactions and large capital projects (e.g., infrastructure, mining, energy and electricity) in
more than 35 countries.
Since 1999 he has been a founding shareholder, director and investment committee
member of Cordiant Capital Inc., an adviser to
funds lending to emerging-market private sector
corporations. He is also co-head of the India,
Japan and P3 Practice groups and a member of
the Energy and First Nations Practice groups.
Stikeman Elliott is one of Canada’s leading
business law firms, with core practice areas
of corporate finance, M&A, real estate, corporate-commercial law, banking, structured
finance, tax, insolvency, competition and
foreign investment, employment and business litigation. See www.stikeman.com for
more details.
14-08-06 8:00 PM
THE NORTHERN MINER AUGUST 11-17, 2014 5
OP-ED
MATTERS OF GENERAL INTEREST
BC gov’t approves Seabridge’s KSM project
BY SALMA TARIKH
Seabridge Gold (TSX: SEA; NYSE:
SA) has received a provincial environmental approval for its KSM
gold–copper project in northwestern B.C., putting it closer to “becoming a reality,” the company’s vicepresident of environmental affairs
Brent Murphy says.
Seabridge reported that B.C.’s Environment Minister Mary Polak and
Energy and Mines Minister Bill Bennett approved the company’s application for an environmental assessment certificate on July 30, 2014.
“This decision confirms that
KSM is a well-designed, environmentally responsible project which
is technically feasible,” Seabridge’s
chairman and CEO Rudi Fronk said
in a statement.
The approval reflects over six
years of economic and environmental studies that the junior has completed, along with its efforts building and fostering community,
government and aboriginal relations.
“It’s exciting news for the company, and I think it’s a testament to
the work of the entire team at
Seabridge, as well as at our consulting team. For that, we thank everybody for their efforts,” Murphy said
in an interview.
The KSM project is located in the
Iskut–Stikine River region, 65 km
northwest of the town of Stewart. It
consists of four large, gold–copper
porphyry deposits: Kerr, Sulphurets, Mitchell and Iron Cap.
Seabridge acquired a 100% stake
in the project in 2000. From 2006 to
2013, it has invested over $176 million in exploration, engineering and
environmental work to advance the
proposed mine. This year it intends
to spend another $29 million on the
sizable property.
The four main deposits at KSM
contain reserves of 38.2 million oz.
gold and 9.8 billion lb. copper grad-
ing 0.55 gram gold and 0.21% copper,
along with silver and molybdenum
by-product credits, making it one of
the largest undeveloped gold–copper deposits in the world.
The cost to put the Mitchell deposit into production, which contains most of the reserves, is US$5.3
billion. A 2012 prefeasibility study
envisions Mitchell as a combined
open-pit and underground mine
operating for 55 years, with annual
output averaging 508,000 oz. gold,
147 million lb. copper, 2.2 million oz.
silver and 1.1 million lb. molybdenum.
Given the hefty price tag, Fronk
noted in a June interview that
Seabridge is looking for a joint-venture partner at KSM to do the “heavy
lifting” in terms of financing. At that
time, he said the company had
signed several confidentiality
agreements and would finish a partnership in the next year.
The project’s ability to provide
employment and generate wealth
for the province and Canada makes
it quite attractive.
During its five-year construction
period, the mine could create 1,800
direct jobs and 4,770 indirect jobs
across Canada each year. While in
full production for 52 years, it would
provide 1,040 on-site jobs and 5,620
indirect jobs in B.C. and Canada
each year.
During the construction period,
Seabridge will spend $3.5 billion in
B.C., generating an estimated $3.4
billion in gross domestic product
(GDP) for the province. Over its 52-
year mine life, it should generate
$400 million in annual GDP for B.C.
and $800 million in annual GDP for
Canada.
Murphy says that the Canadian
environmental assessment agency
(CEAA) has published its final comprehensive report on the KSM project for a 30-day public comment
period. The report concluded the
project “is not likely to cause significant adverse environmental effects.”
Following the comment period,
the CEAA will forward its final recommendation to the federal minister of environment.
Seabridge expects to receive a
positive federal decision shortly.
The company gained 37¢ to close
July 31 at $10.21.
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(Canada): 1-866-249-0649 Email:
[email protected]
Website: http://quebecmines.mrn.gouv.
qc.ca/
Nov 19-21 Manitoba Mining and Minerals
Winnipeg, MAN Tel: (204) 945-2691 Tollfree: 1-800-223-5215 Email: convention@
gov.mb.ca Website: http://www.
manitoba.ca/iem/mrd/minerals/
convention/index.html
Nov 30-Dec 1 Metals & Minerals Investment
Conference San Francisco Marriott
Marquis, San Francisco, CA Toll free: 800831-8333 (u.S.) 859-746-5700 (Int’l)
Email: M&[email protected]
Website: www.metalsandmineralsevents.com
Dec 1-5 American Exploration & Mining
Association’s Annual Meeting &
Exposition Reno, NEV Tel: (509) 6241158 Email: [email protected]
Website: http://www.miningamerica.org/
annual-meeting-exposition/
To order by phone, call:
1-800-668-2374
or
Visit EduMine for more information:
www.EduMine.com/courses/online-courses/mining-explained
Order online by visiting
www.NorthernMiner.com
The Northern Miner, 80 Valleybrook Drive, Toronto, ON M3B 2S9
To order by phone, call 1-800-668-2374 • Find us online at www.NorthernMiner.com
14-08-06 8:00 PM
MARKET NEWS
TORONTO STOCK EXCHANGE
Canada’s main stock index tumbled during
the trading week, posting its biggest drop
since early May.
Investors worried that the U.S. Federal Reserve would hike up interest rates following
signs of economic growth, despite a recent
U.S. jobs report showing the unemployment
rate edged up 0.1 of a point to 6.2% in July.
Global markets also took a hit as Argentina
again defaulted on its debt, and war in
Ukraine and the Middle East continued.
The spot price for gold tumbled US$14.10
per oz. to US$1,294.20, while the S&P/TSX
Global Gold Index gave back 2 points to close
at 198.52. The diversified miners followed suit,
with the S&P/TSX Capped Diversified Metals & Mining Index dropping nearly 5 points
to 919.27.
Harte Gold jumped nearly 35% to 33¢
after raising gross proceeds of $750,000
in a non-brokered private placement,
where it issued 3.33 million units for 22.5¢
apiece. Each unit consists of one share and
a half warrant, with a full warrant exercisable at 30¢ within 18 months of closing.
Harte Gold will use the proceeds to fund
current exploration as well as development work on its 100% owned Sugar Zone
high-grade gold property in Ontario.
J U LY 2 8 - A U G U S T 1
Sugar Zone sits 60 km east of the Hemlo
gold camp.
Junior developer Seabridge Gold was
the week’s value winner, adding $1.22 per
share to $10.19. The boost came after the
B.C. government has given the company’s
KSM gold–copper project an environmental approval, after more than six years of
environmental and economic studies.
Seabridge expects to receive a federal approval for its flagship project in the coming months.
Senior gold miner Agnico Eagle Mines
was the biggest value loser, dropping $4.08 a
share to $41.15, despite reporting decent second-quarter results. Its adjusted secondquarter profit was US28¢ per share, in-line
with analysts’ expectations. Agnico produced
TSX most active issues
Yamana Gold
B2Gold
Mercator Mnls
Teck Res B
First Quantum
Eldorado Gold
Lundin Mng
Barrick Gold
Goldcorp
Torex Gold
VOLUMEWEEK
(000s) HIGH LOW CLOSECHANGE
YRI
BTO
ML
TCKB
FM
ELD
LUN
ABX
G
TXG
21847 9.63 8.91 9.47 + 0.48
12793 3.02 2.81 2.88 -0.13
12621 0.06 0.05 0.06 + 0.01
11059 26.98 25.39 25.99 + 0.63
10424 27.29 24.96 25.06 - 1.13
10390 8.73 8.06 8.65 + 0.24
10381 6.56 6.19 6.42 + 0.12
9467 20.31 19.66 19.89 - 0.31
801830.91 29.8630.28 -0.23
7661 1.56 1.48 1.51 - 0.02
45% more gold at significantly lower cash
costs compared to a year ago. Second-quarter
production was 326,059 oz. gold at total cash
costs of US$626 per oz.
Yamana Gold was the most actively
traded stock after revealing its adjusted
second-quarter earnings of US5¢ per share
beat analysts’ average estimates of US3¢ per
share, but came in below the US7¢ per share
earned in the same period last year. The
decline in profit resulted from lower realized metals prices and higher costs of sales.
Quarterly production was 331,765 equivalent oz. gold, up 12% from the year ago period. By-product cash costs also grew 10%
over the same period to US$523 per equivalent oz. gold, partially due to lower by-product revenues. Yamana advanced 48¢ to end
the week at $9.47, on 21.8 million shares
traded.
TSX greatest percentage change
Harte Gold
Emed Mining
MDN Inc
Eco Oro Mnls
Black Iron
Western Lithiu
Mercator Mnls
Northcliff Res
U3O8 Corp
Balmoral Res
Liberty Silver
Troy Res
Polar Star Mng
Zincore Mtls
TVI Pacific
Rio Novo Gold
Ram Power
First Point
Renaissance Gd
Banro
TSX greatest value change
VOLUMEWEEK
HRT
EMD
MDN
EOM
BKI
WLC
ML
NCF
UWE
BAR
LSL
TRY
PSR
ZNC
TVI
RN
RPG
FPX
REN
BAA
5862
160
875
536
1192
6566
12621
789
874
1981
30
149
53
64
441
21
4497
350
118
4214
0.34
0.16
0.09
0.30
0.13
0.70
0.06
0.26
0.11
1.85
0.08
1.19
0.07
0.18
0.02
0.11
0.03
0.16
0.54
0.30
0.24
0.13
0.06
0.24
0.10
0.54
0.05
0.21
0.10
1.58
0.06
0.80
0.06
0.13
0.02
0.09
0.02
0.12
0.39
0.23
0.33
0.16
0.08
0.30
0.13
0.70
0.06
0.25
0.11
1.84
0.06
0.81
0.06
0.13
0.02
0.09
0.02
0.13
0.46
0.25
+ 34.6
+ 29.1
+ 25.0
+ 25.0
+ 25.0
+ 25.0
+ 22.2
+ 16.6
+ 16.6
+ 16.4
- 54.1
- 30.1
- 26.6
- 25.7
- 25.0
- 21.7
- 20.0
- 18.7
- 17.2
-16.6
TSX VENTURE EXCHANGE
The S&P/TSX Venture Composite Index
had a rough week during the trading period,
as it lost 1.7%, or 16.81 points, en route to a
1,000.63-point close. Commodity futures
were down across the board, with global
economic concerns — including a weakerthan-expected U.S. jobs report and the Argentine debt default — contributing to investor concerns.
December contracts for gold bullion lost
US$13.50 during weekly trading en route to
a US$1,294.80 per oz. close. Meanwhile,
crude oil futures also finished in the red, with
September contracts for West Texas Intermediate dropping 3.8%, or US$3.85, before
closing out the trading period at US$97.88
per barrel. September contracts for copper
lost US2.8¢ before finishing the week at
US$3.22 per lb.
Industrial raw materials outfit Athabasca
Minerals was on the rise after releasing its
second-quarter results. The company gained
18¢ during weekly trading before closing at
$2.55 per share on 1.1 million shares. On July
30 Athabasca announced it had sold 1.4 million tonnes of aggregate during the quarter
and registered total revenue of $3.5 million.
The company reported that aggregate sales
had picked up “significantly,” with ramped
Seabridge Gold
Teck Res B
Yamana Gold
Kirkland Lk Gd
Alamos Gold
First Majestic
Horizns G Bear
Balmoral Res
Uranium Partic
Eldorado Gold
Agnico-Eagle
Cameco Corp
Potash Cp Sask
First Quantum
Royal Gold
Agrium
Centerra Gold
Franco-Nevada
Russell Metals
Dominion Diam
SEA
TCKB
YRI
KGI
AGI
FR
HGD
BAR
U
ELD
AEM
CCO
POT
FM
RGL
AGU
CG
FNV
RUS
DDC
408704 10.19
11058994 25.99
21847479 9.47
2820746 4.04
1783869 10.46
1384442 11.62
2346212 11.56
1980577 1.84
2062137 5.18
10390180 8.65
6187118 41.15
7518225 21.13
5895250 38.23
10424029 25.06
31513 83.25
2066311 98.97
2989417 5.83
1408875 61.94
395504 34.94
272236 15.22
+ 1.22
+ 0.63
+ 0.48
+ 0.39
+ 0.36
+ 0.27
+ 0.26
+ 0.26
+ 0.25
+ 0.24
-4.08
- 1.44
- 1.19
- 1.13
- 1.05
-0.64
- 0.48
-0.46
- 0.42
- 0.41
J U LY 2 8 - A U G U S T 1
up construction after slow demand during
the first half of fiscal 2014.
The company has 426,000 tonnes of
gravel and 437,000 tonnes of sand at five
inventory locations, which it expects to sell
during the second half. Athabasca also
began aggregate production at its Cowper
aggregate operation, which is its fourth
corporate-owned pit.
Bacanora Minerals trended downward following its excursion onto the
London Stock Exchange. The company
lost 20¢ during the week before closing
at $1.25 per share. On July 25 the company announced it had been admitted
to the Alternative Investment Market
(AIM) of the London Stock Exchange,
TSX-V most active issues
Red Pine Expl RPX
Fieldex Expl
FLX
Nemaska Lith NMX
Corsa Coal
CSO
Seafield Res
SFF
Fission Uran
FCU
El Tigre Silvr
ELS
Prime Merid Rs PMR
New MillenniumPGM
Canterra Mnls CTM
VOLUMEWEEK
8087
5969
5511
5027
4911
4569
4063
4030
3821
3540
0.02
0.01
0.20
0.29
0.01
1.34
0.50
0.02
0.44
0.14
0.01
0.01
0.16
0.24
0.01
1.23
0.14
0.02
0.34
0.08
0.01 -
0.01
0.17 +
0.26 +
0.01
1.28 +
0.39 +
0.02
0.44 +
0.13 +
0.01
0.00
0.01
0.02
0.00
0.04
0.24
0.00
0.07
0.06
where it closed an $8.7-million brokered financing of 14.4 million shares at
a price of 60.5¢ per share. U.K.-based
Rare Earth Minerals picked up 1.4 million
shares on the AIM, which brought the
company’s interest in Bacanora to 12%.
Bacanora is advancing its Magdalena borate project and Sonora lithium project
in Mexico.
Red Pine Exploration led the volume
category after saying it would likely pull
the plug on its Cayenne polymetallic project, 110 km southwest of Timmins, Ont. The
company traded 8.1 million shares before
closing at 1¢ per share. On July 31 Red Pine
reported that 11 drill holes completed early
this year at Cayenne hit no significant mineralization.
TSX-V greatest value change
TSX-V greatest percentage change
VOLUMEWEEK
El Tigre Silvr
ELS
E-Energy Vent
EEV
Frontline Gold
FGC
Tri Origin Exp
TOE
China Mnls Mng CMV
Terra Firma Rs
TFR
Canadn Plat
CPC
Greenflag Vent
GFV
Geodex Mnrls
GXM
Canterra Mnls
CTM
Red Mile Mnls
RDM
Brookemnt Cpt BKT
Plato Gold
PGC
Blind Crk Res
BCK
Orefinders Res
ORX
Mainstream MnlMJO
NQ Expl
NQE
Red Pine Expl
RPX
Saville Res
SRE
Electra Gold
ELT
4063 0.50 0.14
50 0.01 0.01
419 0.01 0.01
1103 0.03 0.02
81 0.01 0.01
60 0.01 0.01
485 0.01 0.01
206 0.08 0.05
2789 0.10 0.03
3540 0.14 0.08
319 0.03 0.01
10 0.01 0.01
15 0.01 0.01
302 0.01 0.01
100 0.09 0.08
120.01 0.01
305 0.02 0.01
8087 0.02 0.01
56 0.07 0.05
97 0.07 0.06
0.39 +160.0
0.01 +100.0
0.01 +100.0
0.02 +100.0
0.01 +100.0
0.01 +100.0
0.01 +100.0
0.08 + 87.5
0.07 + 85.7
0.13 + 78.5
0.01 - 60.0
0.01 - 50.0
0.01 - 50.0
0.01 - 50.0
0.08 - 50.0
0.01-
50.0
0.01 - 50.0
0.01 - 50.0
0.06 - 45.0
0.06 - 45.0
U.S. M ARKETS
Argentina’s second debt default in 13 years
— combined with more fighting in the
Ukraine and Gaza, and uncertainty over Federal Reserve policy — pushed U.S. equity
markets into negative territory. The S&P 500
suffered its biggest weekly loss since June
2012, plunging 2.7% to 1,925.15. The Dow Jones
Industrial Average fell 2.8% to 16,493.37, and
the Philadelphia Gold and Silver Index lost
2.1% to close the week at 99.49.
Shares of Cliffs Natural Resources
jumped US$1.26, or 7.8%, to US$17.36 per
share after activist hedge fund Casablanca
Capital elected six of its nominees to the board
of directors. New York-based Casablanca
owns a 5.2% stake in Cliffs and had waged a
six-month battle for control of the board. Next
it will remove the company’s current CEO.
Cliffs recorded a net loss attributable to common shareholders of US$2 million, or US1¢
per diluted share, compared with net income
of US$133 million, or US82¢ per diluted share,
in the second quarter of 2013.
News that Alderon Iron Ore had signed
a second offtake agreement for iron ore
from its 75%-owned Kami project in the
WEEK
VOLUMECLOSECHANGE
WEEK
VOLUMECLOSECHANGE
Bear Creek Mng
Kennady Diam
El Tigre Silvr
Athabasca Mnls
Reservoir Capt
Northern Graph
Bullman Mnls
New Millennium
Iron Tank Res
Metalex Vent
Lumina Copper
Marlin Gold
Bacanora Mnls
Arian Silver
Probe Mines
Atac Res
Gold Reserve
Great Quest Me
Lara Expl
Callinan Royal
BCM
KDI
ELS
ABM
REO
NGC
BUL
PGM
TNK
MTX
LCC
MLN
BCN
AGQ
PRB
ATC
GRZ
GQ
LRA
CAA
208039 3.49
104989 6.05
4063260 0.39
1086666 2.55
564680 0.36
1779233 1.18
136000 0.30
3820912 0.44
1176097 0.19
87500 0.14
1410126 10.37
12102 1.15
2798232 1.25
10850 0.60
107656 2.32
531556 1.06
72565 4.25
215764 1.84
181667 0.74
195715 1.82
+
+
+
+
+
+
+
+
+
+
-
-
-
-
-
-
-
-
-
-
0.45
0.25
0.24
0.18
0.11
0.11
0.10
0.07
0.07
0.06
0.30
0.20
0.20
0.18
0.13
0.13
0.11
0.11
0.09
0.09
J U LY 2 8 - A U G U S T 1
Labrador Trough sent its shares up 7.4% to
US$1.28. A subsidiary of Glencore will buy
40% of the iron-ore concentrate produced
at Kami, up to a maximum of 3.2 million
tonnes. The agreement will stay in place
until Glencore receives 48 million tonnes
of concentrate, which is expected to be in
the project’s fifteenth year of production.
Alderon’s first offtake agreement is with
Hebei Iron and Steel Group Co., its 25%
partner at Kami and China’s largest steelmaker. Hebei has the right to buy 60% of
Kami’s annual production, and owns nearly
20% of Alderon’s shares.
U.S. most active issues
Alcoa*
AA
Cliffs Nat Rs* CLF
Freeport McMo*FCX
Barrick Gold* ABX
Kinross Gold* KGC
Alpha Nat Res* ANR
Arch Coal*
ACI
Hecla Mining* HL
Peabody Enrgy* BTU
Newmont Mng*NEM
VOLUMEWEEK
8846617.14 16.1216.44 -0.12
43532 18.33 16.18 17.35 + 1.26
39193 38.26 36.47 36.78 - 1.21
35213 18.78 18.02 18.21 - 0.47
34683 4.18 3.94 3.98 - 0.14
33485 3.62 3.23 3.37 + 0.08
32671 3.12 2.82 2.95 + 0.06
31228 3.37 3.07 3.09 - 0.22
30797 15.79 14.99 15.13 + 0.14
29817 25.76 24.77 25.20 + 0.05
Newmont Mining gained US5¢ to
US$25.20. The company announced plans to
invest US$1 billion in its Merian gold project
in Suriname, with production expected to
start in late 2016. In a release, Newmont said
its divestment of nearly US$800 million in
non-core assets would help fund the next generation of lower-cost projects in its portfolio.
Newmont also reported adjusted earnings of
US$101 million, or US20¢ per share, in the
second quarter. Before adjustments, its earnings were US$182 million, or US37¢ per share.
U.S. greatest percentage change
Seabridge Gld*
Silver Bull R*
Revett Mnls*
Midway Gold*
Tanz Roy Exp*
Cliffs Nat Rs*
Golden Star*
Alderon Irn O*
Oxford Res P*
NovaCopper*
Alexco Res*
Mines Managem*
OM Group*
Banro*
North Am Pall*
Golden Mnls*
Hi-Crush Part*
Quest Rare Mn*
Agnico-Eagle*
CVR Partners*
VOLUMEWEEK
SA
SVBL
RVM
MDW
TRX
CLF
GSS
AXX
OXF
NCQ
AXU
MGN
OMG
BAA
PAL
AUMN
HCLP
QRM
AEM
UAN
2418 9.62 8.15 9.36 + 12.6
2047 0.28 0.26 0.28 + 12.0
785 1.30 1.09 1.24 + 11.7
435 0.94 0.84 0.94 + 7.9
1115 2.45 2.20 2.44 + 7.9
43532 18.33 16.18 17.35 + 7.8
3816 0.56 0.51 0.55 + 7.8
788 1.49 1.19 1.28 + 7.4
14 0.93 0.85 0.91 + 6.9
5661.05 0.98 1.02+6.2
3674 1.28 1.01 1.03 - 16.2
499 0.91 0.79 0.80 - 15.4
1751 29.68 24.08 25.17 - 15.2
7027 0.28 0.22 0.23 -13.5
19414 0.32 0.26 0.26 - 13.3
1005 1.29 1.12 1.13 - 12.1
263 66.09 56.66 58.59 - 10.5
569 0.23 0.20 0.20 - 10.3
1024942.41 36.60 37.62 -10.0
295 19.15 16.30 17.13 - 9.6
U.S. greatest value change
WEEK
VOLUMECLOSECHANGE
Cliffs Nat Rs*
Seabridge Gld*
Alliance Rs P*
Intrepid Pots*
Minas Buenavn*
Yamana Gold*
Teck Res B*
Yanzhou Coal*
Alamos Gold*
Nevsun Res*
Compass Mnls*
Hi-Crush Part*
OM Group*
US Silica Hld*
Cabot Corp*
Agnico-Eagle*
BHP Billi-BBL*
BHP Billi-BHP*
CVR Partners*
Royal Gold*
CLF
SA
ARLP
IPI
BVN
AUY
TCK
YZC
AGI
NSU
CMP
HCLP
OMG
SLCA
CBT
AEM
BBL
BHP
UAN
RGLD
43532207 17.35
2417976 9.36
1229999 49.54
1089836 15.11
6773156 12.06
6103563 8.66
11402234 23.77
745717 8.32
1228517 9.57
1389456 3.94
652777 86.01
262802 58.59
1751411 25.17
1772903 56.08
2454803 52.87
10249318 37.62
2792655 67.71
7472790 70.95
295197 17.13
2235280 76.33
+ 1.26
+ 1.05
+ 0.89
+ 0.55
+ 0.53
+ 0.35
+ 0.34
+ 0.26
+ 0.19
+ 0.19
- 8.61
- 6.92
- 4.52
- 4.37
- 4.24
-4.20
- 2.84
- 2.28
- 1.83
- 1.74
14-08-06 8:00 PM
STOCK TABLES
MINING STOCKS listed on
NORTH AMERICAN EXCHANGES
Trading: July 28-August 1, 2014
(100s)
Stock
Week
12-month
ExcVolume High Low Last Change HighLow
A
Abacus Mng&Ex
V7302 0.080.06
0.06-0.010.12
0.05
Abcourt MinesV6141 0.080.07
0.080.000.10
0.06
ABE Res V 580 0.060.05
0.06+0.010.15
0.03
Aben Res V 899 0.060.05
0.05-0.010.15
0.05
Aberdeen IntlT6779 0.170.16
0.16+0.010.18
0.11
Abington ResV 100 0.070.07
0.07-0.020.12
0.04
Abitibi RoyaltV 224 2.722.65
2.72+0.022.90
0.30
Abzu Gold V 379 0.150.12
0.13-0.020.40
0.05
Actus Mnls V 200 0.010.01
0.010.000.02
0.01
Adamera MnlsV 558 0.090.08
0.090.000.11
0.03
Adanac MolyV 250 0.200.20
0.200.000.28
0.13
Adex Mining V1501 0.020.02
0.020.000.05
0.02
Adriana Res V1047 0.180.17
0.18+0.010.25
0.16
Advance GoldV 100 0.010.01
0.01-0.010.04
0.01
Advanced Expl
V2355 0.050.04
0.050.000.13
0.04
Adventure Gold
V 945 0.210.19
0.200.000.25
0.10
Aegean Metals
V1130 0.050.04
0.05-0.030.15
0.04
Afri-Can MarinV4125 0.020.02
0.020.000.09
0.02
African Gold G V 3910
0.14 0.12 0.12 - 0.01 0.23 0.06
African MetalsV 70 0.010.01
0.010.000.05
0.01
Africo Res T 186 0.430.42
0.420.000.57
0.32
Aftermath SilvV4995 0.050.04
0.04-0.020.09
0.03
Agnico-Eagle*N
102493 42.4136.60
37.62 -4.2042.41
23.77
Agnico-Eagle T61871 45.9239.89
41.15 -4.0845.92
24.66
AgriMinco V3337 0.010.01
0.010.000.05
0.01
Agrium*
N 3653 92.8490.08
90.54 -1.6097.96
80.40
Agrium
T 20663 100.74 98.31 98.97 - 0.64 108.2883.46
Aguila Am Res V
77
0.14 0.14 0.14 + 0.02 0.20 0.03
Alabama Graph
V35274 0.210.18
0.21+0.030.33
0.06
Alacer Gold T22438 2.692.46
2.50-0.113.65
1.98
Alamos Gold* N 12285
9.68 8.85 9.57 + 0.19 17.38 8.00
Alamos Gold
T 17838
10.50 9.64 10.46 + 0.36 17.86 8.70
Alberta Star V 127 0.070.06
0.07+0.010.27
0.06
Alberta Star D V
454
0.17 0.17 0.17 + 0.01 0.26 0.15
Alcoa*
N
884659 17.1416.12
16.44 -0.1217.227.68
Alder Res V1928 0.030.03
0.030.000.05
0.01
Alderon Irn O* X 7879
1.49 1.19 1.28 + 0.09 1.95 0.95
Alderon Iron O T 14640
1.61 1.28 1.37 + 0.10 2.13 0.97
Aldridge MinlsV 123 0.300.29
0.29-0.010.40
0.15
Aldrin Res V24735 0.040.04
0.04-0.010.17
0.04
Alexander Nubi
V 320 0.030.03
0.030.000.07
0.01
Alexandria Mnl
V3249 0.070.06
0.06-0.010.12
0.03
Alexco Res T13116 1.381.10
1.12-0.212.55
0.98
Alexco Res* X
36735 1.281.01
1.03-0.202.43
0.91
Alhambra ResV 815 0.090.08
0.09-0.010.18
0.05
Alix Res
V3306 0.030.02
0.030.000.06
0.02
Allana PotashT12712 0.370.35
0.35-0.010.58
0.27
Alliance MngV2020 0.040.04
0.04+0.010.10
0.02
Alliance Rs P* Q 12299
53.84 48.00 49.54 + 0.89 53.84 34.00
Allied NevadaT4847 3.633.35
3.39-0.097.42
2.86
Allied Nevada*X
11159 3.363.08
3.10-0.147.11
2.63
Almaden Mnls*
X3854 1.441.34
1.40+0.042.10
1.01
Almaden MnlsT 500 1.561.46
1.54+0.082.17
1.08
Almonty Ind V 10 0.720.72
0.720.001.10
0.52
Alpha Nat Res* N 334853
3.62 3.23 3.37 + 0.08 8.30 3.10
Alphamin ResV 525 0.250.20
0.25+0.060.42
0.10
Alta Vista Vnt V
150
0.14 0.10 0.10 - 0.01 0.22 0.04
Altai Res V 470 0.090.08
0.09+0.010.15
0.06
Altair Vent V2106 0.070.05
0.05-0.020.09
0.03
Altan Nev Mnls V
173
0.07 0.05 0.05 + 0.01 0.07 0.02
Altan Rio Mnls V
140
0.07 0.06 0.06 + 0.01 0.11 0.02
Altima Res V2253 0.070.07
0.070.000.16
0.05
Altius Mnrls T 3304 14.8714.49
14.69 -0.0116.32
10.26
Alto Vent V 209 0.070.06
0.06-0.010.09
0.02
Alum Cp China* N 4551
12.60 11.18 11.25 + 0.09 12.60 7.67
Am Cons Minls V
100
0.04 0.04 0.04 - 0.01 0.15 0.04
Am Creek Res V
80
0.05 0.05 0.05 - 0.01 0.09 0.05
AM Gold V 460 0.100.09
0.09-0.010.40
0.05
Amador GoldV 25 0.020.02
0.020.000.04
0.01
Amarc Res V 833 0.090.07
0.08-0.010.12
0.04
Amarillo GoldV4479 0.130.09
0.11-0.010.24
0.08
Amato Expl V 570 0.020.02
0.02-0.010.08
0.02
American Manga
V 656 0.030.03
0.030.000.07
0.02
American Vanad
V2165 0.580.50
0.51-0.050.75
0.29
Amerigo Res T1349 0.470.44
0.45-0.010.54
0.31
Amex Expl V 240 0.120.11
0.12+0.020.22
0.09
AMI Res
V1000 0.020.02
0.020.000.06
0.02
Anaconda Mng
T20898 0.090.07
0.08-0.010.13
0.06
Anconia Res V 600 0.050.04
0.05-0.010.18
0.04
AndeanGold V 170 0.040.03
0.04+0.010.06
0.02
Anfield NickelV1865 0.970.85
0.91+0.042.60
0.78
Angel Gold V 422 0.070.06
0.07-0.010.95
0.05
Angkor Gold V1080 0.330.30
0.31-0.010.37
0.27
Anglo-Can Mng
V 698 0.020.02
0.02+0.010.05
0.01
AngloGold Ash*N86765 18.3316.73
17.09 -0.9619.53
11.14
Angus Mng Nami V 3530
0.03 0.03 0.03 - 0.01 0.10 0.03
Antioquia Gold
V 260 0.030.03
0.03-0.010.05
0.03
Antofagasta Gd
V1225 0.250.23
0.25+0.050.50
0.17
Apogee SilverV7102 0.020.01
0.02+0.010.05
0.01
Appalaches Res
V2263 0.070.06
0.07+0.010.13
0.06
AQM CopperV1585 0.120.10
0.100.000.16
0.05
Aquila Res T2549 0.120.11
0.12+0.010.17
0.08
Arch Coal* N
326708 3.122.82
2.95+0.065.37
2.82
Archon Mineral
V 74 1.501.40
1.40+0.101.65
0.60
Arco Res V 50 0.080.08
0.08+0.010.30
0.07
Arctic Hntr Ur V 1610
0.05 0.04 0.05 + 0.01 0.08 0.04
Arctic Star Rs V 25690
0.20 0.16 0.16 - 0.02 0.20 0.08
Arcus Dev Grp V
520
0.05 0.04 0.05 + 0.01 0.08 0.01
Argentex MngV1289 0.080.07
0.07+0.010.16
0.07
Argex Titanium
T9251 0.730.59
0.61-0.101.11
0.56
Argonaut ExplV 20 0.010.01
0.010.000.02
0.01
(100s)
Stock
Week
12-month
Argonaut GoldT28973
Arian Silver V 108
Arianne Phosph
V2780
Aroway MnlsV4743
ASA (Bermuda)*
N 3188
Asanko Gold T18636
Asanko Gold*X1194
Ascot Res V2413
Ashburton Vent
V2065
Asher Res V 475
Asian Minl Res V
10
Aston Bay V 330
Astur Gold V 709
Atac Res V5315
Athabasca Mnls
V10866
Athabasca Uran
V2735
Atico Mng V2743
Atlanta Gold V25192
Atlatsa Res* X1478
Atna Res Ltd
T 15307
Augen Gold V 950
Augusta Res T3983
Augusta Res*X 712
Augyva Mng V 300
Aura Mnls T3616
Aura Silver Rs V 6002
Auramex ResV3000
Aurania Res V 25
Aurcana CorpV5486
AurCrest GoldV2650
Aureus Mng T 45
AuRico Gold*N
11924
AuRico Gold T23411
Aurion Res V1675
Aurvista GoldV3810
Avala Res V28590
Avalon Rare M* X 7023
Avalon Rare Mt T 5643
Avanti Mng V17293
Avino Silver V 887
Avino Silver* X6831
Avnel Gold T1084
Avrupa Mnls V2703
Axmin Inc V 160
Azimut Expl V 129
Azincourt ResV21775
4.143.91
4.02-0.068.50
3.43
0.700.60
0.60-0.181.55
0.35
1.010.94
0.96-0.041.69
0.93
0.250.20
0.24+0.040.37
0.16
14.9114.37
14.53 -0.2215.36
11.39
2.822.60
2.65-0.153.35
1.67
2.602.38
2.43-0.123.23
1.56
1.020.89
0.89-0.051.10
0.59
0.040.04
0.040.000.10
0.03
0.090.07
0.080.000.36
0.06
0.06 0.06 0.06 - 0.02 0.11 0.02
0.230.19
0.19-0.020.45
0.13
0.320.27
0.27-0.010.55
0.21
1.221.04
1.06-0.131.73
0.52
2.712.10
2.55+0.183.20
0.74
0.030.02
0.02-0.010.11
0.02
0.810.76
0.76-0.050.89
0.44
0.040.04
0.04+0.010.06
0.02
0.360.32
0.350.000.67
0.23
0.14 0.12 0.13 0.00 0.24 0.09
0.050.04
0.05+0.010.07
0.02
4.183.94
4.03+0.054.18
0.48
3.823.62
3.63-0.043.82
0.45
0.100.10
0.100.000.15
0.08
0.140.13
0.14-0.010.23
0.08
0.04 0.04 0.04 0.00 0.08 0.01
0.020.02
0.020.000.05
0.02
0.450.45
0.45+0.010.45
0.30
0.610.52
0.56-0.023.16
0.49
0.050.04
0.050.000.06
0.01
0.500.45
0.50+0.070.69
0.44
4.284.03
4.08-0.175.36
3.33
4.634.39
4.46-0.135.91
3.56
0.060.05
0.05-0.010.12
0.04
0.050.04
0.050.000.10
0.03
0.040.03
0.03-0.010.13
0.03
0.47 0.44 0.44 - 0.01 1.07 0.44
0.51 0.48 0.49 + 0.01 1.09 0.46
0.080.07
0.08+0.010.14
0.04
2.432.31
2.34-0.013.13
0.93
2.232.12
2.17-0.052.84
0.85
0.220.16
0.18+0.030.44
0.11
0.340.26
0.27-0.060.35
0.05
0.020.02
0.02+0.010.09
0.02
0.310.29
0.29-0.020.43
0.13
0.120.09
0.10-0.020.35
0.09
B
B2Gold*
X
48372
B2Gold
T
127926
Bacanora Mnls
V27982
Baja Mng V12559
Balmoral ResT19805
Bandera GoldV 605
Banks Island G V 4982
Bannerman Res
T 95
Banro
T42137
Banro*
X
70274
Banyan GoldV 556
Bard Vent V 210
Barisan GoldV1576
Barker Mnrls V2550
Barkerville GoV9380
Baroyeca Go&Si
V 750
Barrick Gold* N
352132
Barrick Gold T94667
Batero Gold V2465
Bayfield VentV2260
Bayswater Uran
V 437
BCGold
V 484
BCM Res V 280
BE Res
V 63
Bear Creek Mng V 2080
Bearclaw CapV 540
Bearing Res V3041
Beaufield ResV3664
Bell Copper V 810
Bellhaven Cp&G
V1866
Belmont Res V1000
Belo Sun Mng T 26036
Belvedere ResV 59
Benton Res V2124
Berkwood Res
V1129
Besra Gold T2859
BHP Billi-BBL*N27926
BHP Billi-BHP*N74727
Big North Grap V 5399
BioteQ Env T 733
Bison Gold Res V
805
Bitterroot ResV4668
Black Iron T11920
Black PantherV 233
Blackstone Ven
V5470
Blind Crk Res V 3020
Blue Rvr Res V 7950
Blue Sky Uran V 1200
Bluestone ResV 465
BMO Jr Gld ETF T 1829
Bold Vent V2905
Boss Power V 692
Bowmore ExplV1690
Boxxer Gold V 830
Brades Res V2280
2.802.58
2.64-0.153.58
1.85
3.022.81
2.88-0.133.69
1.98
1.601.14
1.25-0.201.60
0.13
0.060.05
0.060.000.07
0.01
1.851.58
1.84+0.261.85
0.30
0.020.02
0.020.000.05
0.01
0.50 0.46 0.49 - 0.01 0.82 0.43
0.080.07
0.07-0.010.12
0.04
0.300.23
0.25-0.051.20
0.23
0.280.22
0.23-0.041.13
0.22
0.050.04
0.04-0.010.12
0.03
0.060.05
0.05-0.010.12
0.02
0.140.12
0.130.000.45
0.06
0.030.02
0.020.000.07
0.02
0.480.37
0.42-0.041.00
0.30
0.020.02
0.020.000.03
0.01
18.7818.02
18.21 -0.4721.45
15.26
20.3119.66
19.89 -0.3123.78
16.19
0.110.10
0.11+0.010.22
0.09
0.230.20
0.220.000.41
0.19
0.090.08
0.08-0.010.23
0.03
0.050.04
0.05+0.010.09
0.02
0.050.05
0.050.000.12
0.02
0.400.35
0.35-0.030.45
0.07
3.49 2.95 3.49 + 0.45 3.97 1.19
0.050.05
0.050.000.06
0.03
0.040.03
0.04+0.010.10
0.03
0.090.06
0.08+0.020.13
0.04
0.030.02
0.03-0.010.08
0.01
0.050.04
0.04-0.010.14
0.03
0.100.06
0.080.000.18
0.05
0.25 0.21 0.24 + 0.01 0.93 0.15
0.170.17
0.170.000.63
0.05
0.070.06
0.070.000.09
0.05
0.100.06
0.070.000.20
0.03
0.040.03
0.040.000.07
0.02
71.4467.37
67.71 -2.8471.44
56.24
73.9170.58
70.95 -2.2873.91
62.49
0.05 0.04 0.05 0.00 0.10 0.03
0.060.05
0.050.000.15
0.04
0.03 0.03 0.03 0.00 0.05 0.02
0.030.03
0.03-0.010.14
0.03
0.130.10
0.13+0.030.25
0.10
0.040.04
0.040.000.07
0.02
0.010.01
0.010.000.02
0.01
0.01 0.01 0.01 - 0.01 0.03 0.01
0.06 0.05 0.05 - 0.01 0.14 0.05
0.03 0.03 0.03 + 0.01 0.11 0.03
0.030.03
0.03+0.010.05
0.02
8.60 8.12 8.25 - 0.20 10.00 5.76
0.070.06
0.06-0.010.09
0.03
0.260.25
0.26+0.010.27
0.12
0.100.10
0.100.000.25
0.02
0.030.03
0.030.000.06
0.02
0.140.11
0.11-0.010.25
0.08
(100s)
Stock
Week
12-month
Bralorne GoldV 221
Brandenburg En
V1000
Bravada GoldV 270
Bravura Vent V 300
Brazil Res V5632
Brixton Mtls V 588
Brookemnt Cpt V
100
Bullman MnlsV1360
Burnstone Vent
V1772
0.320.30
0.32+0.030.45
0.21
0.030.02
0.02-0.010.10
0.02
0.060.06
0.060.000.25
0.05
0.020.02
0.02+0.010.02
0.01
0.900.84
0.89-0.011.44
0.43
0.330.28
0.29-0.041.60
0.26
0.01 0.01 0.01 - 0.01 0.06 0.01
0.300.23
0.30+0.100.75
0.14
0.040.03
0.04+0.010.05
0.01
Cabot Corp* N24548
Cache Expl V 120
Cadan Res V1845
Cadillac MngV5347
Cadillac VentV 70
Caledonia Mng
T1225
Calibre Mng V7588
Calico Res V 100
Callinan RoyalV1957
Callinex MinesV2306
Cameco Corp*N84127
Cameco Corp T75182
Camino MnlsV 20
Canada Carbon
V6668
Canada Rare Ea V 8025
Canada Zinc Mt V 5706
Canadn ArrowV1277
Canadn Int Mnl V 4364
Canadn Mining
V4830
Canadn Orebods
V3815
Canadn Plat V4850
Canadn Zinc T9154
Canaf Group V 335
CanAm Coal V11750
Canamex ResV8952
Canarc Res T2272
Canasil Res V2642
Cancana ResV1606
Candente Coppr
T1548
Candente Gold
T1295
Cangold
V 163
CaNickel MngT 15
Canoe Mng Vnt V
834
Canstar Res V 15
Canterra MnlsV35403
Cantex Mn Dev V
506
Canuc Res V 111
Canyon Copper
V 70
Cap-Ex Vent V 400
Capstone Mng
T40274
Caracara SilvrV1610
Cardero Res T4896
Cariboo RoseV 67
Caribou King R V 24611
Carlin Gold V1597
Carlisle GoldfT8723
Carmax Mng V2295
Carpathian Gld
T15017
Cartier Res V 500
Cascadero Copp
V1575
Cascadia ResV 10
Cassidy GoldV3023
Cassius Vent V 200
Castle Res V27200
Catalyst Coppr
V2237
Cavan Vent V2565
Cayden Res V2797
CB Gold
V4878
Centamin T3839
Centerra GoldT29894
Central Fund* X26185
Central Fund T 1411
Central Gold-TT 3
Central GoldT*X 748
Centurion Mnls
V 720
Century Iron M T
40
Cerro Grande M T
326
Chalice DiamV 526
Chalice Gold M T
75
Challenger Dee
V 540
Champion Bear
V 994
Champion Iron
T2101
Chesapeake Gld
V1013
Chiboug Ind Mn V
340
Chieftain MtlsT 130
Chimata GoldV1165
China Gold Int T 13495
China Mnls Mng V
810
Claim Post Res V 3995
Claude Res T6630
Cliffmont ResV1130
Cliffs Nat Rs* N 435322
Clifton Star V 310
Cloud Peak En* N 18429
CMC Metals V2020
Coalspur Mines
T5426
Codrington Res
V 60
Coeur Mng*
N 58803
Cogitore ResV 100
Colibri Res V1040
Colombian Mins
V 180
Colonial CoalV1550
57.1051.53
52.87 -4.2461.46
39.00
0.080.07
0.08+0.030.65
0.05
0.020.02
0.020.000.09
0.02
0.210.19
0.20+0.010.25
0.02
0.020.02
0.020.000.07
0.01
1.141.11
1.120.001.20
0.60
0.080.07
0.08+0.010.14
0.03
0.180.18
0.180.000.26
0.07
1.911.81
1.82-0.092.20
1.40
0.260.17
0.26+0.050.66
0.17
21.0519.24
19.33 -1.5325.84
17.27
22.7521.03
21.13 -1.4428.57
17.95
0.080.04
0.04-0.040.65
0.04
0.180.17
0.180.000.37
0.10
0.09 0.08 0.09 0.00 0.12 0.03
0.46 0.41 0.44 + 0.01 0.60 0.19
0.020.02
0.020.000.03
0.01
0.06 0.05 0.06 + 0.01 0.55 0.05
0.040.03
0.04+0.010.04
0.01
0.020.01
0.020.000.05
0.01
0.010.01
0.01+0.010.03
0.01
0.320.30
0.31-0.010.73
0.29
0.080.08
0.08+0.010.14
0.06
0.060.05
0.06+0.010.08
0.03
0.190.17
0.19+0.020.22
0.05
0.100.09
0.090.000.13
0.04
0.090.08
0.080.000.14
0.05
0.270.23
0.27+0.020.40
0.13
0.270.23
0.240.000.32
0.15
0.040.04
0.04-0.010.10
0.03
0.130.10
0.13+0.030.19
0.03
0.220.22
0.22+0.020.31
0.06
0.20 0.15 0.18 + 0.01 0.40 0.12
0.070.07
0.070.000.14
0.06
0.140.08
0.13+0.060.14
0.04
0.09 0.07 0.09 + 0.02 0.22 0.04
0.040.04
0.04+0.010.06
0.01
0.060.06
0.06-0.050.30
0.05
0.020.02
0.020.000.10
0.01
3.082.86
2.94-0.103.35
1.89
0.020.02
0.020.000.07
0.02
0.100.07
0.08-0.010.27
0.05
0.040.04
0.04-0.010.05
0.03
0.03 0.02 0.02 - 0.01 0.11 0.01
0.020.02
0.020.000.05
0.02
0.050.04
0.050.000.09
0.04
0.110.08
0.08-0.010.12
0.02
0.040.03
0.03-0.010.23
0.02
0.120.11
0.12+0.010.16
0.06
0.010.01
0.010.000.04
0.01
0.040.04
0.04-0.010.06
0.01
0.030.02
0.02-0.010.05
0.02
0.040.04
0.040.000.30
0.03
0.030.02
0.020.000.08
0.02
0.500.36
0.45+0.050.75
0.06
0.040.04
0.040.000.07
0.03
2.402.33
2.40+0.022.51
0.96
0.090.08
0.08-0.020.30
0.08
1.371.27
1.31-0.031.38
0.52
6.375.64
5.83-0.487.20
2.82
14.2413.98
14.05 -0.1316.69
12.19
15.4715.23
15.36 +0.0217.54
13.77
49.7449.70
49.70 +1.2054.25
43.97
46.0045.10
45.36 -0.5450.25
40.92
0.070.06
0.07+0.010.15
0.04
0.50 0.50 0.50 - 0.01 0.65 0.36
0.05 0.04 0.05 - 0.01 0.24 0.01
0.020.02
0.020.000.05
0.01
0.15 0.15 0.15 0.00 0.19 0.11
0.060.06
0.060.000.15
0.03
0.200.08
0.09-0.070.21
0.03
0.320.29
0.31+0.010.58
0.29
3.703.33
3.50-0.055.43
2.50
0.08 0.06 0.06 - 0.02 0.14 0.04
0.250.24
0.240.000.79
0.11
0.060.05
0.06+0.020.20
0.03
3.23 3.02 3.20 + 0.11 4.10 2.54
0.01 0.01 0.01 + 0.01 0.03 0.01
0.11 0.10 0.10 - 0.01 0.19 0.03
0.280.24
0.26+0.010.37
0.12
0.040.03
0.03-0.010.18
0.03
18.33 16.18 17.35 + 1.26 28.98 13.60
0.220.21
0.21-0.010.44
0.16
16.33 15.29 15.53 - 0.32 22.41 14.28
0.070.06
0.06-0.010.09
0.03
0.070.06
0.06-0.010.44
0.05
0.100.07
0.07+0.010.45
0.02
8.27 7.49 7.55 - 0.78 16.95 6.62
0.030.03
0.030.000.07
0.02
0.010.01
0.010.000.04
0.01
0.200.16
0.17-0.030.46
0.16
0.180.15
0.16-0.030.57
0.15
C
(100s)
Stock
Week
12-month
Colorado ResV3921
Colt Res
V2480
Columbia Yukon
V 33
Columbus Gold
V2411
Commander Res
V 813
Commerce Res
V11638
Compass Mnls*N 6527
Compliance Eny
V2099
Comstock Mng*
X2949
Comstock Mtls
V3902
Condor Res V11058
Confedertn Mls
V4222
Conquest ResV 59
Cons RichlandV1000
Cons Woodjam CV
316
Consol Energy*N
126308
Constant Mtl R V 18515
Contintl GoldT21576
Contl PreciousT 100
Copper Ck Gold V
850
Copper Fox Mtl V 6615
Copper Mtn Mng T 15055
Copper North M V
771
Copper One V1300
Coral Gold V 534
Corazon GoldV 51
Cordoba MnlsV 487
Corex Gold V 670
Cornerstone Ca
V3485
Coro Mining T12367
Corona Gold T 532
Coronet MtlsV8538
Corsa Coal V50271
Cortez Gold V 105
Corvus Gold T 288
Cosigo Res V1200
Cougar Mnls V 70
Crazy Horse Rs V 4001
Critical Elem V21502
Crocodile Gold
T12852
Crown Gold V 111
Curis Res T1842
Currie Rose Rs V
47
CVR Partners*N 2951
Cypress Dev V11828
0.230.18
0.19-0.030.86
0.15
0.230.20
0.23+0.030.44
0.17
0.120.12
0.12-0.010.40
0.07
0.460.43
0.43-0.030.63
0.18
0.040.04
0.04+0.010.08
0.03
0.240.20
0.21-0.010.35
0.06
93.0085.26
86.01 -8.6197.43
64.24
0.050.03
0.05+0.020.05
0.02
1.621.54
1.60+0.012.27
1.47
0.030.02
0.030.000.16
0.02
0.110.09
0.09-0.020.17
0.05
0.080.07
0.080.000.33
0.07
0.020.02
0.02+0.010.03
0.01
0.040.03
0.04+0.020.07
0.02
0.05 0.05 0.05 + 0.01 0.08 0.05
40.8838.46
38.95 -1.0648.30
30.18
0.25 0.20 0.21 - 0.01 0.25 0.04
4.143.81
3.88-0.095.92
2.39
0.460.44
0.46+0.011.08
0.32
0.07 0.06 0.07 + 0.02 0.07 0.01
0.24 0.23 0.24 0.00 0.74 0.22
3.00 2.66 2.67 - 0.15 3.15 1.36
0.08 0.06 0.06 - 0.01 0.09 0.03
0.040.04
0.040.000.11
0.04
0.250.20
0.23+0.020.31
0.07
0.160.12
0.12+0.011.13
0.11
0.700.61
0.63-0.071.60
0.56
0.090.08
0.08-0.010.10
0.02
0.120.11
0.110.000.24
0.04
0.070.06
0.06-0.010.20
0.06
0.490.43
0.49+0.030.55
0.38
0.020.02
0.02+0.010.10
0.01
0.290.24
0.26+0.020.29
0.10
0.520.47
0.47-0.050.59
0.10
1.361.30
1.300.002.18
0.67
0.050.05
0.05-0.010.30
0.04
0.030.03
0.030.000.34
0.03
0.04 0.03 0.03 - 0.01 0.21 0.03
0.290.23
0.28+0.040.29
0.11
0.260.23
0.24-0.010.35
0.07
0.110.10
0.11+0.010.30
0.05
0.870.78
0.87+0.040.99
0.51
0.02 0.02 0.02 0.00 0.05 0.01
19.1516.30
17.13 -1.8322.73
15.11
0.040.03
0.040.000.04
0.01
Dacha Str Mtls V 1922
Dajin Res V 591
Dalradian ResT8620
Dalton Res Ltd V
330
Decade Res V5339
Defiance SilvrV 100
Dejour EnterpT9593
Dejour Enterp*X
19432
Delrand Res T 10
Denison Mines
T60429
Denison Mines*
X6746
Desert Star V 172
Detour Gold T71529
Diagnos
V4017
Diamcor MngV 339
Diamond Fields
V 39
Dios Expl V2500
Discovery Harb
V 33
Discovery Vent
V13790
Discovery-Corp
V 178
Ditem ExplorV1227
DNI Metals V1771
Dolly Vard Sil V
703
Dominion Diam*
N 2402
Dominion DiamT 2722
Donner MetalsV1980
Dorex Minls V 10
Dot Res
V4040
Doubleview Cap
V3260
Duluth MetalsT8090
Dunav Res V1793
Duncastle Gold
V1555
Dundarave Res
V 33
Dundee Prec Mt T 18700
Duran Vent V4417
Durango ResV1552
Dynacor Gold M T 1331
Dynasty GoldV1060
Dynasty Met&Mn
T 343
E-Energy VentV 500
Eagle Hill Exp V 12991
Eagle Plains V 115
East Asia Mnls V
847
Eastern MeridV 530
Eastern PlatinT15669
Eastfield ResV 100
Eastmain ResT1561
Eco Oro Mnls T 5356
Ecuador G & C V 10481
Edgewater Expl
V 231
El Nino Vent
V
50
El Tigre Silvr
V 40632
Eldorado Gold*
N
34603
Eldorado Gold T 103901
Electra Gold V 973
Elgin Mng T32950
0.25 0.18 0.22 + 0.03 0.25 0.10
0.050.04
0.04-0.010.16
0.04
0.910.82
0.85-0.051.08
0.50
0.42 0.41 0.41 - 0.01 0.51 0.28
0.160.14
0.16+0.020.19
0.03
0.100.10
0.10+0.020.15
0.03
0.350.29
0.29+0.020.35
0.10
0.320.25
0.27+0.010.32
0.09
0.550.55
0.550.000.65
0.24
1.531.41
1.41-0.041.95
1.01
1.401.29
1.29-0.061.76
0.97
0.190.18
0.19+0.010.25
0.10
13.8511.96
13.35 -0.1715.622.88
0.070.06
0.070.000.15
0.06
1.251.10
1.10-0.081.90
1.09
0.010.01
0.010.000.05
0.01
0.030.03
0.030.000.09
0.03
0.050.05
0.050.000.13
0.03
0.270.23
0.24-0.030.32
0.12
0.120.12
0.12-0.030.19
0.06
0.020.01
0.02+0.010.02
0.01
0.060.05
0.05-0.010.08
0.03
0.12 0.11 0.12 0.00 0.22 0.10
14.5013.76
13.91 -0.5715.15
11.83
15.7715.02
15.22 -0.4116.83
12.31
0.080.07
0.080.002.70
0.07
0.090.09
0.09-0.010.13
0.07
0.030.02
0.03+0.010.08
0.02
0.160.15
0.15+0.010.40
0.04
0.500.45
0.48+0.011.46
0.44
0.030.03
0.030.000.14
0.03
0.040.04
0.04-0.010.06
0.02
0.110.11
0.11+0.010.19
0.05
5.57 5.04 5.20 - 0.14 7.00 2.50
0.020.02
0.020.000.04
0.01
0.120.08
0.10+0.020.22
0.06
1.87 1.76 1.83 + 0.01 2.20 1.35
0.020.01
0.02+0.010.04
0.01
1.741.54
1.67+0.061.80
0.53
0.010.01
0.01+0.010.02
0.01
0.04 0.04 0.04 - 0.01 0.15 0.04
0.080.08
0.080.000.12
0.07
0.04 0.04 0.04 + 0.01 0.20 0.03
0.020.02
0.02-0.010.03
0.01
1.050.97
1.01-0.051.20
0.55
0.030.03
0.030.000.07
0.03
0.400.39
0.39-0.010.56
0.21
0.30 0.24 0.30 + 0.06 0.65 0.24
0.07 0.06 0.06 - 0.01 0.14 0.05
0.080.07
0.070.000.22
0.04
0.05 0.05 0.05 0.00 0.09 0.02
0.50 0.14 0.39 + 0.24 0.50 0.12
8.007.39
7.91+0.129.58
5.35
8.73 8.06 8.65 + 0.24 10.08 5.73
0.070.06
0.06-0.050.10
0.05
0.440.40
0.42+0.030.44
0.09
D-F
METALS, MINING AND MONEY MARKETS
SPOT PRICES
PRODUCER AND DEALER PRICES
COURTESY OF SCOTIABANK
Antimony FOB China: Mid-mkt US$9,350/t
Bismuth: Mid-mkt US$10.60/lb.
Cadmium 99.9: Mid-mkt US$0.92/lb.
Coal: CME Group Central Appalachian Coal Futures
Sept. 2014: US$59.90; Oct. 2014: US$59.30
Cobalt 99.8: US$16.25/lb.
Copper: Comex Copper Futures Sept. 2014: US$3.18/lb.;
Comex Sept. 2014: $3.18/lb.
Germanium: US$1,950/kg.
Germanium Dioxide: US$1,350/kg
Gallium: US$290/kg
Indium: NY Dealer Mid-mkt US$720.00/kg.
Iridium: Mid-mkt US$620.87/tr. oz.
Magnesium FOB China: Mid-mkt US$2,700.00/t.
Manganese FOB China: Mid-mkt US$2,250.00/t.
Mercury (flask): US$3,000
Molybdenum Oxide: US$13.50/lb.
Rhodium: Mid-mkt US$1,210.43/tr. oz.
Ruthenium: Mid-mkt US$68.00/tr. oz.
Selenium: Mid-mkt US$26.00/lb.
Silver: Base: US$19.83; Fabricated: US$23.79; Sterling: N.A.
Tungsten: APT Tungstate FOB China mid-mkt: US$370.00 per
mtu
Uranium: U3O8, Trade Tech spot price: US$28.50/lb.; Uranium Exchange Co. spot price: US$28.75/lb.
Ferrovanadium: US$27.50/kg; Vanadium-Pentoxide:
US$6.30/lb.
Prices current Aug. 6, 2014
Tuesday, August 5, 2014
Precious Metals
Price (US$/oz.)
Change
Gold
$1292.75-14.75
Silver
$20.20-0.44
Platinum
$1463.00-25.00
Palladium
$855.00-3.00
Base Metals
Nickel
Lead
Copper
Zinc
Price (US$/tonne)
Change
$18452.00-39.00
$2240.00-38.25
$7048.00-80.00
$2374.25-19.50
LME WAREHOUSE LEVELS
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, July 28, 2014 (change from July 21, 2014
in brackets):
33620(-520)
Aluminium Alloy
Aluminium
4954550(-22675)
Copper
146175(-4725)
Lead
215650(+1225)
Nickel
317544(+5742)
Tin
11780(+5)
Zinc
655675(+3225)
FOR DAILY MINING NEWS, VISIT WWW.NORTHERNMINER.COM
DAILY METAL PRICES
Date
Aug 4
Aug 1
July 31
July 30
July 29
BASE METALS(London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne)
Al Alloy
1955/1970 1950/1970 1965/1984 1975/19901980/1990
Aluminum
1978/2003
1964/1970
2016/2020
1982/19931973.50/1985
Copper
7102/7095 7077.50/7059
7135/7119.50 7089/70607115.50/7102
Lead
2239.50/2251.50 2196/22062236.50/2245.50 2217/2231 2264/2276
Nickel
18360/18475 18275/18350 18760/18775 18675/1880018520/18590
Tin
22350/22400 22475/22460 22925/22925 22525/2257522575/22725
Zinc
2358.50/2359
2346.50/2335
2399/2369.50 2357.50/2348.502387.50/2380.50
PRECIOUS METAL PRICES (London fix, US$ per troy oz.)
1307.50
1305.00
1292.50
1300.00
Gold AM1297.50
Gold PM1294.50
1299.25
1304.50
1294.75 1292.75
Silver20.54 20.64 20.63 20.4620.84
Platinum1480.00
1485.00
1486.00
1473.00 1469.00
Palladium878.00
884.00
884.00
876.00
869.00
LEGEND
A – Australian Stock Exchange
C – CNSX Canadian National
Stock Exchange
J – Johannesburg Stock
Exchange
L – London Stock Exchange
M– Mexico Stock Exchange
N – New York Stock Exchange
O – U.S. over-the-counter
Q – NASDAQ or U.S. OTC
T – Toronto Stock Exchange
V – TSX Venture Exchange
X – NYSE Alternext U.S.
* – Denotes price in U.S.$
STAFF INVESTMENT POLICY
The Northern Miner does not permit any editorial employee to file stories about
companies in which the writer owns shares. Editorial employees are also not
permitted to take part in initial public offerings or to engage in short selling.
CONVERSIONS OF WEIGHTS & MEASURES
1 troy ounce = 31.1 grams
1 kilogram = 32.15 troy ounces
1 kilogram = 2.2046 pounds
1 (metric) tonne = 1,000 kilograms
1 (metric) tonne = 2,204.6 pounds
1 (short) ton = 2,000 pounds
1 (metric) tonne = 1.1023 (short) tons
1 gram per (metric) tonne = 0.02917 troy
ounces per (short) ton
= 0.03215 troy ounces per (metric)
tonne
1 kilometre = 0.6214 miles
1 hectare = 2.47 acres
14-08-06 8:00 PM
(100s)
Stock
Week
12-month
Elissa Res V 10
Eloro Minls V 100
Ely Gold & Mnl V
523
EMC Metals T7609
Emed MiningT1597
Emgold Mng V 655
Encanto Potash
V6363
Endeavour Mng
T33889
Endeavr SilverT8324
Endeavr Silve*N
10398
Endurance Gold
V1370
Energizer ResT5534
Energold DrillV1084
Energy Fuels
T 2935
Entourage Mtls
V 54
Entree Gold* X2341
Entree Gold T1752
EPM Mng Vent V 1713
Equitas Res V 500
Equitorial ExpV2070
Erdene Res Dev T 1190
Erin VenturesV6825
Eskay Mng V4477
Estrella Gold V 127
Ethos Gold V 937
Eurasian MinlsV2607
Eurasian Mnls*
X4850
EurOmax ResV 672
Europn Uran Rs V
125
Eurotin
V1420
Everton Res V 271
Evrim Res V 774
Excalibur ResC2050
Excellon ResT1418
Excelsior MngV7047
Exeter Res* X1040
Exeter Res T 850
Expedition Mng
V 798
Explor Res V5919
Faircourt GoldT 327
Fairmont ResV 285
Falco Pac Res V 3499
Falcon Gold V16506
Fancamp ExplV13428
Feronia
V 97
Ferrum Am Mng V 1500
Fieldex Expl V59692
Firestone VentV 680
First Bauxite V 260
First Lithium V 76
First Majesti* N34393
First Majestic T13844
First Mexican V 3638
First Nickel T7229
First Point T3499
First QuantumT104240
Fission 3.0 V17484
Fission Uran V45688
Fjordland ExpV1100
Flinders Res V4520
Focus Graphite
V10811
Focus Vnt V1527
Foraco Intl T 152
Foran Mng V17587
Formation Mtls
T2129
Forsys MetalsT 168
Fort St J Nick V
211
Fortuna SilverT14501
Fortuna Silvr*N8245
Fortune Bay T2757
Fortune MnrlsT6121
Forum Uranium
V7421
Franco-Nevada*
N19042
Franco-NevadaT14088
Freegold VentT 437
Freeport McMo*
N
391933
Frontier Rr Er T
78
Frontline GoldV4187
Full Metal Mnl V
556
0.020.02
0.020.000.04
0.02
0.020.02
0.020.000.03
0.01
0.11 0.10 0.10 - 0.02 0.17 0.06
0.120.12
0.12-0.010.16
0.02
0.160.13
0.16+0.040.20
0.09
0.030.02
0.030.000.05
0.02
0.120.11
0.11-0.010.26
0.10
0.930.86
0.88-0.041.02
0.44
6.646.33
6.48+0.066.69
3.34
6.145.82
5.92-0.016.28
3.12
0.090.08
0.08-0.010.13
0.04
0.130.11
0.12-0.010.32
0.11
1.701.61
1.62-0.042.25
1.36
8.50 8.02 8.22 - 0.05 13.03 4.75
0.150.15
0.15+0.020.66
0.06
0.310.26
0.28-0.020.51
0.24
0.320.29
0.31-0.020.52
0.25
0.31 0.28 0.31 + 0.05 0.38 0.10
0.030.03
0.030.000.09
0.02
0.160.15
0.15-0.010.36
0.14
0.16 0.14 0.15 - 0.03 0.26 0.07
0.060.05
0.05-0.010.09
0.05
0.110.08
0.11+0.010.13
0.03
0.070.06
0.06-0.010.09
0.03
0.200.18
0.19-0.010.26
0.14
0.880.81
0.85+0.021.56
0.69
0.810.76
0.770.001.50
0.65
0.360.33
0.35+0.020.75
0.09
0.04 0.04 0.04 0.00 0.23 0.03
0.100.07
0.07-0.010.10
0.02
0.110.11
0.11-0.010.38
0.07
0.450.31
0.36+0.040.45
0.21
0.080.05
0.07-0.030.26
0.05
1.441.26
1.37+0.012.11
0.90
0.250.23
0.25+0.030.63
0.10
0.790.75
0.78+0.021.12
0.49
0.850.80
0.85+0.031.15
0.53
0.060.06
0.060.000.20
0.04
0.060.05
0.06-0.010.28
0.03
4.804.52
4.64-0.055.50
3.58
0.160.13
0.13-0.010.20
0.04
0.57 0.50 0.57 + 0.02 0.87 0.23
0.120.09
0.10+0.010.12
0.02
0.070.06
0.070.000.12
0.04
0.810.80
0.800.001.15
0.45
0.03 0.03 0.03 0.00 0.05 0.01
0.010.01
0.010.000.02
0.01
0.020.02
0.020.000.04
0.01
0.100.08
0.10+0.030.22
0.07
0.500.50
0.50-0.020.60
0.10
10.8710.45
10.64 +0.1316.468.19
11.8511.30
11.62 +0.2717.268.90
0.03 0.03 0.03 + 0.01 0.09 0.01
0.040.03
0.040.000.06
0.01
0.160.12
0.13-0.030.29
0.10
27.2924.96
25.06 -1.1327.29
15.63
0.100.08
0.090.000.30
0.08
1.341.23
1.28+0.041.73
0.93
0.030.02
0.020.000.05
0.01
0.900.79
0.81-0.011.01
0.32
0.600.55
0.58+0.050.69
0.25
0.290.27
0.280.000.35
0.07
0.590.55
0.59+0.011.08
0.48
0.200.18
0.20+0.020.32
0.14
0.230.21
0.23+0.020.26
0.07
0.380.35
0.38+0.010.61
0.32
0.03 0.03 0.03 - 0.02 0.07 0.02
6.245.88
6.01-0.016.59
2.71
5.775.39
5.50-0.086.19
2.58
0.360.31
0.32-0.030.50
0.23
0.420.34
0.35-0.050.46
0.23
0.170.14
0.15-0.010.68
0.14
59.0056.15
56.66 -1.0360.45
36.92
64.0361.28
61.94 -0.4664.41
39.41
0.210.19
0.19-0.030.44
0.17
38.2636.47
36.78 -1.2139.32
27.92
0.28 0.28 0.28 + 0.01 0.47 0.27
0.010.01
0.01+0.010.02
0.01
0.03 0.03 0.03 0.00 0.04 0.01
Gabriel Res T2988
Galane Gold V 430
Galantas GoldV 14
Galaxy Cap V 150
Galena Intl Rs V
500
Galore Res V2500
Galway Gold V2336
Galway Mtls V 524
GAMCO Glb Gld*X 19675
Garibaldi ResV1582
General Moly*X7638
Gensource Pot
V 710
Gentor Res V 100
Geodex MnrlsV27892
Geodrill
T 438
Geologix Ex
T 1891
Geomega ResV17395
Geonovus Mnls
V13810
Getty CopperV5308
GFK Res V 47
GGL Res V1481
Ginguro ExplV11899
Giyani Gold V3964
Glen Eagle Res V 5022
Glenmark CapV 272
Global Met Cl V
230
Global Minls V6279
Globex Mng T5153
GMV MineralsV 95
Gobimin
V1283
GoGold Res T1986
Golconda ResV 221
Gold Bulln Dev V 8161
Gold CanyonV12551
Gold Fields* N
121159
Gold Mtn Mng V 1390
Gold Reach Res V
140
Gold ReserveV 725
Gold Resource*
X
35181
Gold Ridge Exp V
100
Gold Std Vnt
V 2765
Gold Std Vnt* X 4481
Goldcliff Res V 80
Goldcorp
T80184
Goldcorp* N
182911
Golden Arrow R V
935
Golden Dawn Ml V
110
Golden Goliath
V1905
Golden HopeV 440
Golden Mnls T 441
Golden Mnls*X
10054
Golden Peak Mn V
635
Golden Predatr
V 173
Golden QueenT 858
Golden Reign R V 1216
Golden Share M V
420
Golden Star T1891
Golden Star* X
38158
Golden Tag V 185
0.920.87
0.90-0.011.87
0.41
0.240.24
0.24+0.020.29
0.07
0.050.05
0.05+0.010.25
0.04
0.020.02
0.02-0.010.08
0.01
0.04 0.04 0.04 + 0.01 0.06 0.03
0.030.02
0.020.000.03
0.01
0.060.05
0.06+0.010.16
0.05
0.130.12
0.13+0.010.17
0.09
11.08 10.66 10.86 - 0.15 11.38 8.72
0.300.28
0.30+0.010.33
0.08
1.131.04
1.04-0.071.99
0.82
0.040.04
0.04-0.010.05
0.03
0.060.06
0.060.000.25
0.02
0.100.03
0.07+0.030.10
0.02
0.920.90
0.91-0.011.15
0.60
0.08 0.07 0.08 + 0.01 0.18 0.05
0.340.28
0.29-0.011.06
0.08
0.050.05
0.05+0.010.06
0.04
0.060.03
0.04-0.020.08
0.02
0.210.17
0.19-0.020.43
0.16
0.020.01
0.020.000.03
0.01
0.270.18
0.18-0.050.40
0.03
0.420.36
0.37+0.010.90
0.16
0.16 0.14 0.15 - 0.01 0.24 0.14
0.350.29
0.29-0.010.40
0.05
0.02 0.02 0.02 - 0.01 0.06 0.02
0.220.20
0.20-0.030.63
0.16
0.250.23
0.24-0.010.63
0.23
0.140.14
0.140.000.35
0.10
0.460.42
0.46+0.020.48
0.29
1.491.39
1.41-0.031.75
0.89
0.040.03
0.030.000.08
0.03
0.06 0.06 0.06 0.00 0.08 0.03
0.420.35
0.41+0.030.53
0.19
4.103.88
3.98-0.066.64
2.92
0.19 0.15 0.19 + 0.02 0.21 0.09
0.72 0.67 0.68 - 0.07 1.45 0.57
4.894.20
4.25-0.114.89
3.00
5.705.20
5.37+0.059.43
3.52
0.03 0.03 0.03 0.00 0.06 0.02
0.79 0.72 0.74 - 0.05 1.04 0.51
0.74 0.66 0.68 - 0.07 1.01 0.49
0.020.02
0.020.000.03
0.01
30.9129.86
30.28 -0.2333.80
21.87
28.5727.39
27.72 -0.4832.15
20.54
0.27 0.24 0.27 + 0.01 0.29 0.18
0.03 0.03 0.03 + 0.01 0.08 0.02
0.030.03
0.03-0.010.06
0.02
0.020.01
0.02+0.010.04
0.01
1.401.22
1.22-0.141.74
0.44
1.291.12
1.13-0.161.64
0.42
0.15 0.11 0.15 - 0.01 0.16 0.04
0.180.16
0.160.000.32
0.07
1.711.53
1.59+0.091.99
0.62
0.20 0.18 0.18 - 0.02 0.39 0.12
0.04 0.04 0.04 + 0.01 0.23 0.03
0.610.55
0.61+0.050.96
0.39
0.560.51
0.55+0.040.89
0.39
0.100.09
0.090.000.13
0.02
G-H
(100s)
Stock
Week
12-month
Golden Val Min V
950
Goldex Res V 465
Goldeye ExplV1133
Goldfield* X3202
Goldgroup Mng
T3003
GoldQuest Mng
V23372
Goldrea Res V1620
Goldrock Mines
V1140
Goldrush ResV1250
Goldsource Min
V1872
Goldspike Expl
V1204
Goldstar MnlsV 350
Goldstrike Res
V5894
Gossan Res V 485
Gowest GoldV1770
Gran Colombia
T 593
Grande Portage
V 65
Graphite One R V 28759
Gray Rock Res V
50
Great AtlanticV 165
Great Bear Res V
162
Great Panther*
X
14550
Great PantherT5507
Great Quest Me V 2157
Great WesternV16340
Green Swan Cap V 3000
Greencastle Rs
V 580
Greenflag VentV2059
Gresham ResV17013
Grizzly DiscvrV 220
Groundstar Res
V4345
GTA Res & Mng V 2660
Gunpoint ExplV 405
Guyana Frntr M V
500
Guyana Gldflds
T13755
Guyana Prec Mt V 15167
GWR Res V3895
Handa CopperV5710
Hansa Res V 150
Happy Ck Minls V
771
Hard Creek Ni T 1888
Harmony Gold*
N
70945
Harte Gold T58616
Harvest GoldV 10
Hawkeye Gld&Di
V 930
Heatherdale Rs
V2370
Hecla Mining*N
312281
Helio Res V10026
Hellix Vent V 10
Hi-Crush Part*N 2628
Highbank ResV14926
Highland ResV 611
Highvista GoldV 55
Highway 50 Gld V
330
HiHo Silver C4530
Hinterland MtlV 301
Homestake Res
V10477
Honey Badger E V 3275
Horizns G Bear T 23462
Horizns G Bull T 37934
Horizonte Mnls
T 250
Hornby Bay Mnl V 1111
Houston LakeV 78
HudBay Minls T47045
HudBay Mnls*N 582
Hudson Res V1675
Hudson River M V
10
Huldra Silver V1778
Hunt Mng V 130
0.18 0.17 0.17 - 0.01 0.23 0.03
0.040.04
0.04+0.010.15
0.03
0.080.07
0.08+0.010.19
0.04
1.621.55
1.55-0.062.61
1.45
0.210.18
0.18-0.010.32
0.04
0.270.22
0.22-0.040.45
0.22
0.010.01
0.010.000.02
0.00
0.480.44
0.45-0.010.62
0.30
0.020.02
0.020.000.04
0.01
0.260.23
0.23-0.030.36
0.12
0.150.14
0.14-0.010.20
0.02
0.040.04
0.040.000.18
0.04
0.090.06
0.08+0.020.31
0.04
0.030.03
0.030.000.05
0.02
0.090.08
0.08+0.010.10
0.03
1.661.55
1.57-0.093.95
0.74
0.020.02
0.020.000.06
0.02
0.14 0.12 0.13 - 0.01 0.25 0.08
0.04 0.04 0.04 0.00 0.05 0.02
0.290.17
0.27+0.051.00
0.17
0.07 0.07 0.07 - 0.01 0.23 0.07
1.371.24
1.26-0.001.49
0.66
1.491.34
1.40+0.031.60
0.70
1.96 1.65 1.84 - 0.11 2.54 0.53
0.080.07
0.080.000.18
0.07
0.08 0.06 0.08 - 0.01 0.18 0.02
0.090.09
0.090.000.11
0.05
0.080.05
0.08+0.040.08
0.04
0.790.70
0.72+0.020.79
0.38
0.070.07
0.070.000.12
0.02
0.170.17
0.170.000.25
0.07
0.11 0.07 0.09 - 0.03 0.33 0.07
0.250.23
0.23-0.020.45
0.20
0.01 0.01 0.01 0.00 0.02 0.01
3.172.96
3.09-0.013.33
1.46
0.18 0.14 0.17 - 0.02 0.19 0.06
0.040.03
0.04+0.010.09
0.02
0.030.03
0.03+0.010.08
0.03
0.040.04
0.04+0.010.05
0.02
0.17 0.14 0.17 + 0.02 0.19 0.10
0.05 0.04 0.04 0.00 0.07 0.02
3.233.02
3.07-0.144.35
2.35
0.340.24
0.33+0.090.34
0.05
0.030.03
0.030.000.06
0.03
0.020.02
0.02-0.010.05
0.01
0.090.08
0.080.000.11
0.03
3.373.07
3.09-0.223.98
2.63
0.080.05
0.07+0.030.12
0.04
0.050.05
0.050.000.10
0.03
66.0956.66
58.59 -6.9269.18
20.26
0.340.26
0.30-0.040.38
0.05
0.480.42
0.48-0.020.68
0.12
0.030.03
0.03+0.010.06
0.02
0.43 0.36 0.40 0.00 0.48 0.16
0.020.02
0.020.000.05
0.01
0.040.04
0.04+0.010.06
0.01
0.090.07
0.08+0.020.09
0.02
0.04 0.04 0.04 - 0.01 0.06 0.01
11.93 11.03 11.56 + 0.26 24.69 10.73
10.78 9.93 10.24 - 0.26 14.00 6.17
0.110.11
0.110.000.17
0.10
0.08 0.07 0.08 + 0.01 0.15 0.06
0.070.07
0.070.000.11
0.04
11.8511.33
11.62 +0.1311.856.02
10.8610.43
10.62 +0.0210.965.78
0.370.31
0.33+0.020.43
0.26
0.01 0.01 0.01 - 0.01 0.02 0.01
0.110.08
0.08-0.030.40
0.04
0.040.03
0.04+0.010.06
0.01
I-Minerals V 715
Iamgold* N
35293
Iamgold
T53920
IBC Adv Alloys V 7910
IC Potash T3142
Iconic Mnls V 201
IEMR Res V1850
IMPACT SilverV 799
Imperial MetalT 732
Inca One Res V 3056
Independence G
V1984
Indico Res V1050
Infinito Gold V2035
Inform Res V 870
Inlet Res V 405
Inspiration MgT 517
Integra Gold V19964
Intigold MinesV1941
Intl Lithium V 425
Intl Montoro R V 28305
Intl Northair V2418
Intl Tower Hi* X
577
Intl Tower Hil
T
987
Intrepid Pots* N10898
INV Metals T2719
Iron South Mng V
10
Iron Tank Res V 11760
ISh COMEX G Tr T
131
Ivanhoe MinesT43296
Ivernia
T6996
J.A.G. Mines V 330
Jaguar Mng
V
168
Jaxon Mnls V 150
Jayden Res T 183
Jet Gold
V 700
Josephine Mng
V1000
Jourdan Res V2010
Kaminak GoldV25379
Karmin Expl V 95
Karnalyte ResT 684
Katanga MngT5314
Kazax Mnls V 72
Kenieba GoldfV 66
Kennady DiamV1049
Kermode ResV 100
Kestrel Gold V 593
Kettle River V 220
Khalkos ExplV3428
Khan Res C2120
Kilo Goldmines
V 280
Kincora Copper
V 200
Kings Bay Gold V 1475
Kinross Gold T67823
Kinross Gold*N
346834
Kirkland Lk Gd T 28207
Kiska Metals V2725
Kivalliq EnrgyV4200
Klondex MnsT6393
Klondike GoldV 427
Klondike SilvV2360
Knick Expl V6020
Kobex Mnls V 739
Kola Mng V 152
Kombat Copper
V8745
Kootenay Gold
V2029
KWG Res V12187
0.280.23
0.23-0.010.38
0.10
3.833.63
3.74-0.027.06
3.00
4.153.95
4.09+0.027.45
3.25
0.16 0.13 0.16 0.00 0.27 0.05
0.300.28
0.29+0.010.49
0.24
0.060.06
0.060.000.26
0.04
0.010.01
0.010.000.03
0.01
0.610.56
0.56-0.021.02
0.44
16.9916.25
16.80 -0.0118.63
10.10
0.16 0.15 0.16 + 0.01 0.18 0.06
0.130.12
0.12-0.020.17
0.10
0.100.09
0.09-0.020.19
0.05
0.010.01
0.010.000.01
0.01
0.040.03
0.04+0.010.16
0.03
0.170.16
0.16+0.010.30
0.12
0.090.07
0.08-0.010.22
0.04
0.240.21
0.21-0.030.42
0.15
0.110.07
0.08-0.010.18
0.05
0.040.04
0.04-0.010.06
0.01
0.11 0.09 0.11 + 0.01 0.11 0.02
0.140.11
0.14+0.020.25
0.08
0.73 0.67 0.68 - 0.03 1.18 0.30
0.80 0.72 0.76 + 0.01 1.30 0.31
15.1414.40
15.11 +0.5519.51
10.60
0.280.26
0.26-0.010.50
0.15
0.09 0.09 0.09 0.00 0.09 0.01
0.19 0.12 0.19 + 0.07 0.19 0.04
13.70 13.53 13.70 + 0.03 14.91 12.24
1.581.48
1.48-0.062.70
1.25
0.140.13
0.14-0.010.17
0.11
0.050.05
0.050.000.11
0.04
0.87 0.76 0.76 - 0.06 28.08 0.50
0.070.07
0.07+0.010.15
0.06
0.110.10
0.100.000.20
0.05
0.050.04
0.050.000.20
0.04
0.030.03
0.03+0.010.05
0.01
0.030.03
0.03+0.010.07
0.02
1.020.88
0.92-0.061.19
0.46
0.300.28
0.28-0.010.55
0.16
1.281.17
1.20-0.035.70
1.05
0.540.43
0.43-0.040.62
0.35
0.040.04
0.04+0.010.22
0.03
0.140.13
0.13-0.020.18
0.02
6.205.70
6.05+0.258.74
1.66
0.020.02
0.020.000.07
0.02
0.060.05
0.06-0.010.24
0.02
0.020.02
0.02+0.010.03
0.01
0.120.11
0.12+0.020.14
0.03
0.380.34
0.36+0.020.45
0.14
0.200.19
0.20-0.010.55
0.15
0.080.07
0.08+0.010.09
0.02
0.02 0.01 0.02 0.00 0.03 0.01
4.524.30
4.34-0.116.44
3.97
4.183.94
3.98-0.146.23
3.66
4.05 3.58 4.04 + 0.39 5.05 2.21
0.090.08
0.09-0.010.15
0.04
0.200.19
0.19-0.010.29
0.18
2.061.97
2.03-0.022.25
1.30
0.250.19
0.19-0.010.45
0.15
0.070.06
0.06-0.010.10
0.02
0.020.02
0.02-0.010.05
0.01
0.550.53
0.54-0.020.66
0.48
0.070.07
0.07+0.010.13
0.02
0.090.07
0.08+0.010.19
0.07
0.350.31
0.33-0.010.82
0.28
0.060.06
0.060.000.10
0.04
I-J-K
L
CANADIAN GOLD MUTUAL FUNDS
Fund name
Aug. 5
July 29
Change
Change
YTD
MER*
Assets*
($)
($) ($) (%) (%) (%)(M$)
AGF Pr Mtl
22.23
22.71
-0.48
-0.021
31.69
2.76
242.39
Altamira Pr & Str Mtl
11.47
11.73
-0.26
-0.022
34.15
2.44
n/a
BMO Junior Gold Index ETF
8.18
8.47
-0.29
-0.034
32.87
0.62
67.93
BMO Pr Mtl
16.17
16.57
-0.40
-0.024
24.38
2.41
72.85
CIBC Pr Mtl
12.32
12.57
-0.25
-0.020
34.33
2.48
65.05
Dynamic Pr Mtl
4.42
4.49
-0.07
-0.016
48.32
2.65
276.22
London Life Precious Mtl
24.39
24.78
-0.39
-0.016
40.41
3.55
133.53
Mackenzie Pr Mtl-A
44.16
44.86
-0.70
-0.016
41.29
2.61
329.59
RBC Global Pr Mtl
29.2
29.9
-0.70
-0.023
30.91
2.13
598.57
Sentry Pr Mtl Growth
37.06
37.74
-0.68
-0.018
43.28
2.77
547.44
Sprott Gold and PM-F
4.5
4.56
-0.06
-0.013
39.26
2.50
n/a
Sprott Gold and Pr Minls
33.35
33.81
-0.46
-0.014
37.98
2.93
242.14
TD Pr Mtl-A
7.8
7.94
-0.14
-0.018
30.84
2.45
n/a
TD Pr Mtl-I
36.96
37.63
-0.67
-0.018
30.97
2.27
144.23
iShares TSX Global Gold Index
12.39
12.57
-0.18
-0.014
27.60
0.55
704.29
Featured fund: TD Pr Mtl-A top holdings as of 08/31/13 (in weighted order): Goldcorp, Franco-Nevada, Silver Wheaton,
Freeport McMoRan Copper & Gold, iShares Gold Bullion ETF, Barrick Gold, Yamana Gold, Agnico Eagle Mines, Osisko Mining,
Kinross Gold, B2Gold, Torex Gold Resources, Fortuna Silver Mines, New Gold. Fund manager: Anish Chopra.
(100s)
Stock
Week
12-month
Labdr I-Ore Ro T 9470
Labdr Iron Mns T 11893
Lachlan Star T1366
Lago Dourado M V 3000
Lake Shore Gd* X 23445
Lake Shore Gld T 67956
Lakeland ResV19965
Lara Expl V1816
Laramide ResT13419
Largo Res V25451
Latin Am Mnls V 1320
Laurion Mnl Ex V 6200
Legend GoldV4271
Levon Res T32471
Lexam VG Gold T 3237
Liberty SilverT 295
Lincoln Mng V 120
Lion One Mtls V 1038
Lions Gate Eng V 3970
Lithium Americ
T2820
Lomiko Mtls V11681
Loncor Res T 40
Lorraine Coppr
V 84
Los Andes Copp V
245
Lowell CopperV 135
Lucara Diam T14643
Lucky Mnls V 5
Lucky Strike R V
40
Lumina CopperV14101
Luna Gold T30577
Lundin Mng T
103805
Lupaka Gold T2239
Lydian Intl T5433
31.80 30.38 30.68 + 0.14 34.53 27.63
0.09 0.07 0.08 + 0.01 0.58 0.06
0.100.10
0.100.000.39
0.09
0.02 0.02 0.02 0.00 0.05 0.01
1.18 1.08 1.09 - 0.01 1.19 0.30
1.28 1.18 1.22 0.00 1.28 0.32
0.130.09
0.10-0.020.30
0.09
0.840.73
0.74-0.091.18
0.64
0.550.44
0.48+0.040.91
0.32
0.350.31
0.34-0.010.35
0.19
0.19 0.15 0.17 - 0.01 0.25 0.06
0.02 0.02 0.02 0.00 0.06 0.01
0.270.22
0.22-0.070.35
0.19
0.330.28
0.31-0.020.49
0.17
0.14 0.12 0.13 - 0.01 0.18 0.09
0.080.06
0.06-0.070.13
0.02
0.150.14
0.14-0.010.60
0.05
0.49 0.40 0.40 - 0.02 0.51 0.25
0.04 0.03 0.03 + 0.01 0.05 0.02
0.270.25
0.27+0.020.52
0.19
0.060.06
0.06-0.010.19
0.05
0.100.09
0.090.000.27
0.05
0.030.03
0.03-0.010.05
0.01
0.25 0.20 0.25 + 0.05 0.31 0.15
0.620.57
0.61+0.051.00
0.35
2.662.52
2.61-0.052.80
0.75
0.250.25
0.25+0.020.50
0.10
0.03 0.03 0.03 0.00 0.16 0.03
10.8810.36
10.37 -0.3010.883.86
1.080.98
0.99-0.091.97
0.92
6.566.19
6.42+0.126.57
3.99
0.220.19
0.19-0.030.32
0.12
1.201.12
1.17+0.011.48
0.55
Macarthur MnlT3070
MacDonald Mns
V 966
Macusani Yello
V5328
Mag Silver
T 7530
Mag Silver*
X
263
MagIndustriesT 628
Mahdia GoldC
39190
Mainstream Mnl
V 115
Majescor ResV 10
Majestic GoldV1870
Major DrillingT8933
Makena Res V3799
Malbex Res V 345
Manado GoldV 350
Mandalay ResT60798
Manitou GoldV 550
Manson CreekV 236
Marathon Gold
T3191
Marengo MngT29065
Margaret Lk Di V
612
Marifil Mines V1735
Maritime ResV2830
Marlin Gold V 121
Mason Graphite
V5815
Matamec ExplV7496
Maudore Minls
V2421
Mawson ResT 403
Mawson WestT4920
Max Res V 840
Maya Gold & Si V 1120
MBAC FertilizrT6789
McEwen Mng*N
83793
McEwen MngT6529
MDN Inc T8745
MDU Res* N28742
Mechel*
N7469
Medallion ResV12361
Mega Precs Mtl V 5465
Mega UraniumT45314
Megastar DevV1177
Melior Res V2025
Melkior Res V1008
Mercator MnlsT
126207
Merrex Gold V10171
Mesa Expl V 100
Mesabi Trust* N 2000
Metalcorp V 760
Metalex VentV 875
Metallis Res V 330
Metalore ResT 12
Metals Ck Res V 2306
Metanor Res V14070
Micrex DevelV 150
Midas Gold T4884
Midland ExplV 236
Midlands Minls
V8975
Midnight Sun M V 2833
Midway GoldT 359
Midway Gold*X4345
Migao
T 674
Mill City Intl
V
417
Millrock Res V16251
Millstream MinV1000
Minas Buenavn*
N67731
Minaurum Gold
V 935
Minco Gold* X2853
Minco Gold T 564
Minco Silver T 935
Mindoro Res V7086
Minemakers T 70
Minera IRL T6677
Mineral Mtn Rs V 23716
Mines Managem*
X4990
Mines Managmnt
T 69
Minfocus ExplV 300
Minsud Res V 25
0.250.18
0.19+0.010.35
0.10
0.020.02
0.02+0.010.04
0.01
0.070.06
0.070.000.16
0.06
10.12 9.68 9.93 + 0.03 11.42 5.15
9.36 8.93 9.07 - 0.07 10.60 4.87
0.170.16
0.170.000.29
0.10
0.060.03
0.05-0.020.10
0.01
0.010.01
0.01-0.010.03
0.01
0.070.07
0.070.000.15
0.04
0.060.06
0.060.000.15
0.04
9.348.86
9.02+0.109.78
6.41
0.040.04
0.040.000.25
0.04
0.030.03
0.030.000.06
0.01
0.060.06
0.06+0.010.10
0.03
1.191.11
1.16+0.051.19
0.71
0.040.04
0.04+0.010.10
0.03
0.090.08
0.08-0.010.15
0.03
0.630.50
0.520.000.63
0.13
0.020.01
0.020.000.03
0.01
0.50 0.37 0.41 + 0.06 0.50 0.06
0.030.02
0.030.000.06
0.01
0.190.13
0.18-0.010.38
0.13
1.351.15
1.15-0.201.70
0.50
0.800.72
0.80+0.021.08
0.26
0.080.08
0.08-0.010.26
0.07
0.070.06
0.070.000.51
0.06
0.370.33
0.33+0.020.76
0.27
0.370.34
0.34-0.010.63
0.32
0.090.08
0.080.000.12
0.04
0.45 0.41 0.43 - 0.02 0.55 0.18
0.400.36
0.39+0.032.48
0.36
2.962.80
2.88+0.023.74
1.70
3.223.03
3.14+0.054.13
1.81
0.090.06
0.08+0.020.09
0.04
33.2730.53
31.34 -1.6236.05
25.94
2.101.86
1.87-0.173.94
1.57
0.130.10
0.11-0.030.43
0.10
0.12 0.11 0.11 + 0.01 0.27 0.09
0.250.20
0.23+0.020.42
0.06
0.060.05
0.05-0.010.13
0.05
0.120.08
0.11+0.010.16
0.07
0.030.03
0.030.000.05
0.02
0.060.05
0.06+0.010.16
0.04
0.150.12
0.12-0.030.15
0.02
0.050.05
0.05+0.010.09
0.02
19.1518.49
18.53 -0.4324.84
17.95
0.010.01
0.010.000.02
0.01
0.150.08
0.14+0.060.30
0.07
0.180.16
0.17-0.020.19
0.08
2.912.71
2.71-0.093.70
2.33
0.04 0.03 0.04 + 0.01 0.05 0.02
0.140.13
0.13-0.010.28
0.08
0.030.03
0.03-0.010.08
0.02
0.810.72
0.74-0.011.32
0.63
0.880.77
0.88+0.051.14
0.58
0.030.02
0.03+0.010.04
0.01
0.19 0.15 0.19 + 0.03 0.25 0.10
1.010.92
1.01+0.081.60
0.76
0.940.84
0.94+0.071.44
0.72
1.551.40
1.40-0.071.56
0.91
0.19 0.15 0.16 - 0.01 0.54 0.02
0.070.05
0.06-0.010.17
0.05
0.020.01
0.010.000.03
0.01
12.1611.30
12.06 +0.5315.039.75
0.110.09
0.09-0.010.15
0.03
0.430.39
0.39-0.030.62
0.12
0.470.43
0.43-0.020.68
0.16
1.100.98
1.06+0.031.38
0.65
0.050.04
0.04-0.010.05
0.02
0.090.09
0.09+0.020.16
0.02
0.210.18
0.19-0.030.33
0.13
0.08 0.06 0.06 - 0.01 0.10 0.03
0.910.79
0.80-0.151.80
0.48
1.000.89
0.94-0.061.98
0.50
0.030.02
0.02-0.010.05
0.01
0.060.06
0.060.000.13
0.05
M
(100s)
Stock
Week
12-month
Miranda GoldV 541
Mirasol Res V1419
Mkango Res V 250
Molycorp* N
193857
Monarques Res
V1641
Moneta Porcpn
T2255
Monster MngV 100
Montero Mg&Ex
V 910
Monument Mng
V3961
Mosaic*
N
112806
Mountain Boy M V 10975
Mountain Prov*
X 553
Mountain ProvT2612
MPH Vent V 55
MPVC
V2673
Mundoro CapV10615
Murgor Res V27764
Musgrove Mnls
V 27
Mustang MinlsV 200
0.160.16
0.16-0.010.21
0.11
1.391.28
1.31+0.011.81
0.79
0.130.13
0.13+0.010.25
0.05
2.292.06
2.08-0.067.78
1.61
0.120.11
0.12+0.010.15
0.09
0.090.08
0.08-0.010.19
0.05
0.020.02
0.020.000.02
0.01
0.020.02
0.020.000.07
0.02
0.230.20
0.21-0.020.37
0.20
47.6545.65
46.04 -1.0653.52
39.75
0.02 0.02 0.02 - 0.01 0.03 0.01
5.264.99
5.07+0.115.58
4.46
5.725.38
5.50+0.105.87
4.87
0.070.06
0.06-0.010.30
0.05
0.110.09
0.100.000.30
0.06
0.250.21
0.25+0.040.36
0.18
0.030.02
0.03+0.010.03
0.01
0.180.13
0.18+0.060.30
0.10
0.030.03
0.03+0.010.05
0.02
Namibia Rare E T 1992
Natural Rs Pt* N 1998
Nautilus MinlsT1889
Nebu Res V 497
Nemaska LithV55114
Network ExplV 16
Nevada Clean M V 2340
Nevada Copper
T1744
Nevada Expl V2838
Nevada Sunrise
V 835
Nevado Res V1178
Nevsun Res T16132
Nevsun Res* X
13894
New Carolin Gd V 2481
New Gold T36837
New Gold* X
126411
New Millennium
V38209
New Milln Iron T 6809
New Pac Metals T
50
New World Res V
355
Newmont Mng*N
298174
Newport ExplV4993
Newstrike CapV1341
Newstrike ResV 500
NGEx Res T2401
Nighthawk Gold
V 262
Nikos Expl V 398
Niocan Inc T 26
Niocorp Dev V19791
Niogold Mng V6182
Nippon Dragon
V1209
Nitinat Mnls V 10
NMC Res V 70
Noble Mnl Expl V
300
Noka Res V1520
Nomad Ventures
V1353
Nordex
V 512
Noront Res V3979
North Am En P* N
890
North Am En Pa T 5312
North Am Nickl V 1762
North Am Pall* X 194144
North Am Pall T 34929
North Am Tung V 1669
North Arrow Mn V 2444
North CountryV4162
Northcliff ResT7890
Northcore ResV5720
Northern Dyn*X4187
Northern Dyn M T 1126
Northern Freeg
V3430
Northern Gld M V
581
Northern Graph
V17792
Northern IronV 300
Northern LionV 25
Northern ShielV1167
Northern Sun M V
39
Northern Sup R V 7898
Northern VertxV1970
Northisle C&GV 213
Northquest V7466
NovaCopper T 507
NovaCopper*X5656
NovaGold ResT4936
NovaGold Res*
X
45183
NQ Expl
V3050
Nubian Res V1432
Nuinsco Res T61474
NuLegacy Gold
V14017
Nunavik Nickel
V 5
NV Gold
V 20
NWM Mng V3697
Oban Mng T 539
OceanaGold T48253
Oceanic Iron O V
803
Oceanus ResV2514
Odin Mng & Exp V 2226
Olivut Res V 480
OM Group* N17514
Omineca Mg&Mtl
V 155
Opta Minls T 117
Oracle Mng T 616
Orbit Garant D T
198
Orbite Alumnae
T36879
Orca Gold V2188
Orefinders Res
V1002
Orestone MngV 430
Orex Expl V 500
Orex Minls V1160
Orezone GoldT4342
0.11 0.09 0.11 0.00 0.23 0.09
16.89 16.02 16.22 - 0.01 22.08 12.78
0.550.52
0.55+0.010.79
0.20
0.090.08
0.09+0.010.10
0.05
0.200.16
0.17+0.010.20
0.08
0.050.05
0.050.000.10
0.05
0.06 0.06 0.06 - 0.01 0.14 0.01
2.482.26
2.26-0.142.83
1.23
0.040.04
0.040.000.13
0.04
0.920.85
0.88+0.011.50
0.12
0.040.04
0.04-0.010.11
0.04
4.344.03
4.29+0.234.74
3.14
3.973.70
3.94+0.194.33
3.00
0.04 0.04 0.04 - 0.01 0.06 0.01
7.156.66
6.77-0.208.52
4.99
6.616.10
6.20-0.268.10
4.68
0.440.34
0.44+0.070.50
0.03
0.32 0.28 0.31 + 0.03 0.92 0.28
0.27 0.27 0.27 - 0.04 0.62 0.24
0.04 0.04 0.04 - 0.01 0.24 0.04
25.7624.77
25.20 +0.0534.27
20.79
0.570.44
0.48+0.010.70
0.04
1.010.90
1.00+0.061.16
0.53
0.050.05
0.050.000.10
0.05
2.222.05
2.18+0.032.38
1.26
0.600.60
0.60-0.050.70
0.30
0.090.06
0.06-0.040.15
0.03
0.200.19
0.190.000.28
0.11
0.670.54
0.58-0.070.79
0.10
0.300.27
0.280.000.35
0.06
0.090.08
0.080.000.15
0.06
0.010.01
0.010.000.16
0.01
0.070.06
0.07-0.010.12
0.04
0.02 0.02 0.02 0.00 0.06 0.02
0.050.04
0.040.000.41
0.04
0.050.04
0.050.000.05
0.01
0.420.40
0.40-0.010.59
0.38
0.530.48
0.510.000.70
0.15
7.41 6.95 7.17 - 0.06 8.49 4.64
8.10 7.52 7.86 + 0.06 9.22 4.80
0.50 0.46 0.47 - 0.02 0.65 0.17
0.32 0.26 0.26 - 0.04 1.27 0.23
0.34 0.28 0.29 - 0.04 1.30 0.25
0.09 0.07 0.07 - 0.01 0.17 0.06
0.80 0.71 0.75 0.00 0.84 0.34
0.070.06
0.060.000.11
0.03
0.260.21
0.25+0.040.38
0.17
0.010.01
0.010.000.01
0.01
0.890.81
0.85+0.012.54
0.61
0.95 0.86 0.90 0.00 2.62 0.67
0.040.03
0.030.000.06
0.02
0.04 0.04 0.04 0.00 0.08 0.02
1.441.03
1.18+0.111.44
0.60
0.040.03
0.030.000.05
0.01
0.030.03
0.03-0.010.08
0.01
0.040.04
0.040.000.27
0.02
0.32 0.30 0.32 + 0.04 1.00 0.20
0.04 0.04 0.04 0.00 0.06 0.03
0.300.27
0.27-0.040.84
0.25
0.040.03
0.04+0.010.05
0.02
0.170.13
0.15-0.020.40
0.09
1.161.06
1.11+0.082.18
0.96
1.050.98
1.02+0.062.08
0.85
4.323.99
4.04-0.185.11
2.12
3.983.65
3.70-0.234.62
2.04
0.020.01
0.01-0.010.03
0.01
0.030.03
0.03-0.010.09
0.03
0.030.02
0.020.000.04
0.01
0.130.10
0.12-0.010.18
0.07
0.130.13
0.130.000.17
0.03
0.170.17
0.17+0.010.21
0.01
0.010.01
0.010.000.02
0.01
0.170.17
0.170.000.44
0.16
3.673.05
3.20-0.313.74
1.28
0.30 0.22 0.24 - 0.01 1.80 0.22
0.520.42
0.42-0.020.52
0.17
0.70 0.55 0.55 - 0.07 0.70 0.05
0.240.20
0.22+0.010.45
0.14
29.6824.08
25.17 -4.5237.58
24.08
0.060.04
0.050.000.10
0.04
2.001.90
1.91-0.192.81
1.48
0.100.09
0.09-0.010.51
0.08
1.56 1.50 1.50 - 0.01 1.94 0.99
0.570.50
0.51-0.010.72
0.19
0.630.57
0.60-0.030.70
0.34
0.090.08
0.08-0.080.38
0.05
0.020.02
0.020.000.05
0.02
0.020.02
0.020.000.04
0.01
0.360.32
0.34+0.010.37
0.19
0.880.77
0.80-0.050.93
0.33
N-O
NORTH AMERICAN STOCK EXCHANGE INDICES
52-week
Date
Aug 4
Aug 1
July 31
July 30
July 29
High
Low
TSX Composite
N/A 15215.2615330.7415524.8215446.55
15527.30
12400.15
S&P/TSX-Ven CompN/A 1000.631001.521011.101016.50
1050.26883.52
S&P TSX 60
N/A 876.34884.33896.57890.56
896.74
709.99
Global Gold
N/A 198.52195.94200.44201.69
218.90
149.29
TSX Metals & Mining
N/A 919.27928.43949.97942.69
954.68
691.69
Gold & Silver XAU 98.31 99.49 98.87 100.91 101.86115.21 79.73
Amex Gold Bugs 234.57237.03233.89239.07241.80
283.23
188.39
TSX SHORT POSITIONS
TSX VENTURE SHORT POSITIONS
Short positions outstanding at July 31/14 (with changes from
July 15/14).
Short positions outstanding at July 31/14 (with changes from
July 15/14).
Largest short positions
Lundin Mining LUN
56462980
-28230
Kinross K
37521199
17393070
New Gold NGD
31044604
252549
PotashCorp POT
25614663
14729289
B2gold BTO
22483248
1335758
Detour Gold DGC
22098041
-864351
Torex Gold TXG
19918831
6553271
Tahoe Res. THO
18383456
-69633
Teck TCK.B 14791182
3628344
Yamana YRI
13040190
770373
Argonaut Gold AR
12321451
404209
Cameco CCO
12231251
4969217
Thompson Creek TCM
12009980
-86108
Barrick Gold
ABX
11972760
-11210993
First Majestic FR
10776663
108846
Largest increase in short position
Kinross
K 3752119917393070
PotashCorp
POT25614663 14729289
Torex Gold
TXG
19918831
6553271
Cameco
CCO12231251 4969217
Teck TCK.B 14791182
3628344
Largest decrease in short position
Barrick Gold
ABX
11972760
-11210993
Hudbay Min. HBM
4849610
-4266079
Eldorado Gold ELD
5371311
-3345658
Dundee Precious Mtls DPM
10065494
-2116717
Pretium Res. PVG
1044792
-1712886
Largest short positions
Aurcana AUN
1333672
Azincourt Uran. AAZ
945900
Fission Uran. FCU
740257
Pure Gold Min. PGM
507500
Robex Res. RBX
477000
Zenyatta ZEN
455209
Nemaska Lit. NMX
397000
Arianne Phos. DAN
390800
Glen Eagle Res. GER
372500
Superior Copper SPC
303100
Makena Res. MKN
300000
Kaminak Gold KAM
294431
West African Res.
WAF
279500
Aftermath Sil. AAG
269800
Mason Graphite LLG
261500
Largest increase in short position
Azincourt Uran.
AAZ
945900
Pure Gold Min.
PGM
507500
Glen Eagle Res.
GER
372500
Makena Res.
MKN
300000
West African Res. WAF
279500
Largest decrease in short position
Commerce Res.
CCE
0
Atac Res.
ATC
37048
Kaminak Gold KAM
294431
Mindoro MIO
0
Lamelee Iron Ore
LIR
0
165571
911900
46857
507500
128000
39492
-7500
-26400
372500
-91000
300000
-781769
279500
269800
156500
911900
507500
372500
300000
279500
-1175000
-921152
-781769
-661100
-468500
14-08-06 8:00 PM
(100s)
Stock
Week
12-month
Oroco Res V 551
Orocobre T 519
Orosur Mng T22307
Orvana MnrlsT1057
Otis Gold V 790
Oxford Res P* N
142
0.040.03
0.030.000.12
0.03
2.872.67
2.72-0.182.91
1.60
0.270.23
0.27+0.020.33
0.12
0.530.49
0.49-0.010.77
0.37
0.060.06
0.060.000.12
0.04
0.93 0.85 0.91 + 0.06 2.85 0.73
Pac Bay Mnrls V
10
Pac Booker Min V
90
Pac Booker Mn* X
23
Pac Casc Minls V
640
Pac Coal Res V
40
Pac Imp Mines V
580
Pac Iron Ore
V
290
Pac North West V 2971
Pac Potash V2275
Pac Ridge Expl V
806
Paget Mnls V 600
Paladin Energy
T18631
Palladon VentV 248
Palmer Res V2080
Pan Am Silver T 4752
Pan Am Silver* Q 35645
Pancontl UranV 724
Panoro MinlsV4105
Pantheon VentV 650
Papuan Prec Mt V 5630
Parallel Mng V 273
Paramount Gld*
X
38614
Paramount Gold
T 516
Parlane Res V 215
Passprt Potash
V2851
PC Gold
V2047
Peabody Enrgy*
N
307973
Peat Res V 40
Pelangio ExplV3152
Pele Mtn Res V 4651
Peregrine Diam
T 597
Perseus MngT14498
Pershimco Res
V5129
Peruvian Prc M V
953
Petaquilla MnlT4208
Philippine MtlV 10
Phoenix Copper
V6095
Phoenix GoldV13214
Pilot Gold T4959
Pinestar GoldV 300
Pinetree CapT18642
Pitchblack Res
V 42
PJX Res
V 40
Planet Mng V 100
Plata Latina M V 5665
Plate Res V2685
Platinum Gp M* X 1407
Platinum Gp Mt T 12343
Plato Gold V 150
Playfair Mng V 158
PNG Gold V5327
Polar Star Mng T
530
Polaris Minls T 815
PolyMet Mng*X
13328
PolyMet MngT 920
Potash C Sask* N 188550
Potash Cp Sask T 58952
Powertech Uran
T7568
Precipitate GlV2725
Premier Gold M T 24017
Premium ExplV1137
Pretium Res* N 25028
Pretium Res
T 14822
Prime Merid Rs V 40300
Primero Mng T19154
Primero Mng*N7210
Probe Mines V1076
Prominex ResV 110
Prophecy Coal
T4057
Prosperity GdfV2742
Prospero SilveV 50
Providence Res
V 560
Puma Expl V3509
Purepoint U V2235
Q-Gold Res V 128
QMC Quantum MlV
855
QMX Gold V 188
Quadro Res V 14
Quaterra ResV 574
Quest Rare Mnl T 7053
Quest Rare Mn* X 5686
Quia Res V 26
0.04 0.04 0.04 - 0.01 0.10 0.02
5.15 4.80 5.10 + 0.20 8.38 3.80
4.70 4.43 4.50 - 0.22 8.18 3.55
0.04 0.03 0.04 + 0.01 0.05 0.01
0.38 0.36 0.36 + 0.03 0.62 0.20
0.07 0.05 0.05 0.00 0.08 0.01
0.02 0.02 0.02 0.00 0.05 0.01
0.06 0.05 0.06 - 0.01 0.15 0.03
0.030.02
0.020.000.18
0.02
0.04 0.04 0.04 0.00 0.08 0.02
0.010.01
0.010.000.04
0.01
0.420.37
0.38-0.020.95
0.28
1.491.29
1.49-0.011.88
1.00
0.060.05
0.06-0.010.19
0.03
16.49 15.77 15.99 - 0.24 17.41 10.18
15.24 14.44 14.63 - 0.37 15.97 9.78
0.030.03
0.03-0.010.09
0.02
0.420.41
0.420.000.60
0.25
0.020.02
0.020.000.10
0.01
0.06 0.05 0.06 0.00 0.16 0.01
0.080.07
0.070.000.15
0.04
1.070.95
0.97+0.011.72
0.78
1.161.03
1.07+0.021.79
0.85
0.050.05
0.05+0.010.11
0.02
0.040.04
0.040.000.32
0.04
0.080.06
0.080.000.09
0.02
15.7914.99
15.13 +0.1421.28
14.85
0.020.02
0.020.000.05
0.01
0.050.04
0.050.000.11
0.04
0.07 0.06 0.06 + 0.01 0.10 0.04
0.420.39
0.40-0.010.83
0.28
0.480.42
0.44-0.030.81
0.21
0.370.33
0.35-0.010.45
0.18
0.06 0.05 0.05 - 0.01 0.16 0.04
0.090.09
0.09-0.010.51
0.07
0.060.06
0.060.000.10
0.05
0.050.04
0.050.000.10
0.01
0.130.09
0.11+0.020.13
0.03
1.531.35
1.470.001.77
0.78
0.030.03
0.030.000.18
0.03
0.440.37
0.38-0.060.66
0.25
0.030.03
0.030.000.09
0.02
0.140.14
0.140.000.22
0.10
0.050.05
0.050.000.13
0.03
0.09 0.06 0.09 + 0.01 0.20 0.06
0.100.07
0.08-0.040.35
0.07
1.17 1.06 1.06 - 0.11 1.37 0.96
1.29 1.15 1.15 - 0.11 1.49 0.97
0.010.01
0.01-0.010.01
0.01
0.040.03
0.040.000.13
0.03
0.030.02
0.03+0.010.06
0.02
0.07 0.06 0.06 - 0.02 0.22 0.05
2.622.51
2.62+0.023.20
1.38
1.281.14
1.17-0.031.56
0.67
1.381.24
1.26-0.031.73
0.69
36.73 34.69 34.97 - 1.50 38.58 28.55
39.72 37.87 38.23 - 1.19 41.55 29.67
0.070.06
0.07+0.010.12
0.06
0.200.18
0.180.000.29
0.07
3.12 2.90 2.98 - 0.02 3.52 1.28
0.040.03
0.04+0.010.37
0.02
7.17 6.76 6.87 - 0.11 10.14 2.70
7.77 7.39 7.49 - 0.06 10.67 2.83
0.02 0.02 0.02 0.00 0.02 0.01
8.848.33
8.58-0.039.05
4.45
8.157.64
7.84-0.128.46
4.27
2.502.30
2.32-0.133.95
1.60
0.020.02
0.02-0.010.05
0.01
0.060.05
0.05-0.010.14
0.04
0.040.03
0.03-0.010.20
0.02
0.050.05
0.050.000.10
0.04
0.120.06
0.12+0.050.12
0.04
0.170.15
0.16-0.010.27
0.15
0.050.05
0.050.000.19
0.04
0.050.05
0.050.000.10
0.02
0.03 0.02 0.02 0.00 0.13 0.02
0.050.05
0.050.000.13
0.01
0.050.05
0.050.000.06
0.04
0.070.06
0.060.000.17
0.05
0.24 0.22 0.22 - 0.02 1.03 0.22
0.23 0.20 0.20 - 0.02 1.00 0.20
0.040.04
0.04-0.010.10
0.04
Rackla Mtls V 111
Radisson MngV 50
Radius Gold V1371
Rainbow ResV4980
Rainmaker Res
V 350
Rainy Mtn Royl V 4270
Ram Power T44972
Rambler Mg&Mtl
V 452
Randgold Res*Q20987
Randsburg Intl
V1070
Range Engy Res C 1620
Rapier Gold V 16
0.030.03
0.03-0.010.05
0.01
0.120.12
0.12+0.010.12
0.05
0.120.11
0.120.000.15
0.08
0.020.01
0.020.000.08
0.01
0.150.15
0.150.000.56
0.04
0.04 0.02 0.02 - 0.01 0.04 0.01
0.030.02
0.02-0.010.25
0.02
0.470.42
0.43-0.040.62
0.36
89.1885.01
85.86 -1.5189.89
59.19
0.020.02
0.02-0.010.03
0.01
0.10 0.06 0.07 0.00 0.12 0.01
0.020.02
0.020.000.11
0.02
P-Q
R
(100s)
Stock
Week
12-month
Rare Elemnt Rs T
764
Rare Elemt Re* X 5268
Ratel Grp T 985
Rathdowney Res
V 150
Red Eagle Mng V 3642
Red Mile Mnls V 3185
Red Moon Potsh V
216
Red Pine Expl V 80872
Red Tiger Mng V
147
Redhawk ResT5864
Redhill Res V 841
Redstar GoldV1645
Redzone ResV 230
Regal Res C1600
Regulus Res V1820
Reliance ResV 450
Renaissance Gd
T1181
Reservoir Capt
V5646
Reservoir Mnls
V2813
Reunion GoldV2884
Reva Res V 50
Revett Mnls T 621
Revett Mnls* X7848
1.48 1.29 1.30 - 0.02 3.60 1.24
1.29 1.20 1.22 - 0.01 3.50 1.10
1.091.06
1.09+0.011.40
0.50
0.330.32
0.330.000.42
0.20
0.30 0.27 0.30 + 0.03 0.41 0.17
0.03 0.01 0.01 - 0.02 0.03 0.01
0.05 0.05 0.05 + 0.01 0.09 0.01
0.02 0.01 0.01 - 0.01 0.12 0.01
0.15 0.13 0.13 - 0.03 0.31 0.12
0.230.19
0.22-0.010.35
0.16
0.450.37
0.40-0.070.47
0.13
0.050.05
0.050.000.17
0.04
0.040.04
0.04+0.010.09
0.02
0.090.09
0.090.000.12
0.01
0.190.16
0.18+0.010.19
0.08
0.010.01
0.010.000.06
0.01
0.540.39
0.46-0.100.67
0.17
0.400.26
0.36+0.111.10
0.10
6.095.91
6.000.007.54
2.86
0.100.07
0.10+0.030.17
0.06
0.090.09
0.09-0.010.13
0.02
1.421.17
1.37+0.171.54
0.61
1.301.09
1.24+0.131.48
0.60
Week
12-month
RT Minerals V 493
Rubicon Mnls*X
21713
Rubicon MnrlsT29768
Rugby Mng V 350
Running Fox Rs V
70
Rupert Res V 165
Rusoro Mng V2806
Russell MetalsT 3955
Ryan Gold V4923
Rye Patch Gold V 3098
0.080.07
0.07+0.010.13
0.02
1.551.45
1.50+0.051.90
0.65
1.671.58
1.65+0.041.99
0.69
0.200.20
0.200.000.31
0.10
0.03 0.03 0.03 - 0.02 0.06 0.01
0.140.10
0.12-0.020.23
0.07
0.030.03
0.030.000.05
0.02
35.5034.57
34.94 -0.4235.85
25.00
0.140.13
0.13-0.010.18
0.11
0.20 0.18 0.19 - 0.01 0.27 0.13
Sabina Gd&Slvr
T12908
Sacre-Coeur Ml
V2570
Sage Gold V 727
Saint Jean Car V 1722
Salazar Res V 234
Sama Res V 280
Samco Gold V 155
San Gold Res T 16606
San Marco Res V
110
Sanatana Diam
V 690
0.890.82
0.87+0.031.48
0.55
0.030.02
0.030.000.23
0.02
0.020.02
0.02-0.010.04
0.01
0.03 0.02 0.02 0.00 0.11 0.02
0.200.15
0.15-0.050.34
0.10
0.290.29
0.29-0.020.37
0.14
0.350.30
0.350.000.35
0.07
0.14 0.13 0.13 0.00 0.27 0.09
0.03 0.03 0.03 - 0.01 0.14 0.03
0.180.14
0.15-0.010.29
0.02
S
of T h e N o r t h e r n M i n e r
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Rhino Res* N 688
Rhyolite Res V 310
Richmond Mnls
V 372
Richmont Mines
T2476
Richmont Mine*
X2169
Rio Alto Mng
T 16367
Rio Alto Mng* N 1049
Rio Cristal Rs V
871
Rio Novo Gold T
210
Rio Tinto* N16922
Riverside ResV 740
Robex Res V11022
Rochester Res
V 150
RockBridge Res
V 82
Rockcliff ResV 220
Rockhaven Res
V6812
Rockland Mnls
V1850
Rockridge Cap
V 23
Rockwell Diam
T1331
Rodinia LithmV3258
Rogue Iron Ore V 4740
Rokmaster Res
V3589
Romarco Mnrls
T60195
Rome Res V 339
Romios Gold Rs V
576
Romulus ResV 100
Rotation MnlsV 5
Roxgold
V19052
Royal Cdn Mint T 5827
Royal Gold T 315
Royal Gold* Q22352
Royal Nickel T5506
RPT UraniumV1128
14.6513.06
13.52 -0.4614.659.81
0.360.30
0.30-0.020.38
0.07
0.070.07
0.07-0.010.09
0.02
1.611.51
1.61+0.052.07
1.00
1.471.38
1.47+0.031.85
0.89
2.70 2.51 2.54 - 0.06 3.06 1.33
2.50 2.30 2.30 - 0.10 2.90 1.26
0.02 0.02 0.02 0.00 0.10 0.01
0.11 0.09 0.09 - 0.03 0.19 0.03
59.3356.31
56.64 -1.6060.60
44.61
0.460.42
0.43-0.010.68
0.30
0.200.18
0.18-0.020.25
0.13
0.030.02
0.03+0.010.05
0.02
0.060.05
0.050.000.10
0.02
0.050.05
0.050.000.13
0.03
0.230.20
0.21+0.010.30
0.08
0.040.03
0.03+0.010.07
0.01
0.050.05
0.05-0.010.50
0.04
0.440.37
0.44+0.020.56
0.16
0.050.05
0.05-0.010.13
0.03
0.11 0.08 0.11 + 0.02 0.19 0.05
0.120.10
0.10-0.020.20
0.05
0.930.86
0.87-0.040.99
0.35
0.150.09
0.15+0.050.18
0.07
0.05 0.05 0.05 - 0.01 0.09 0.04
0.170.17
0.170.000.40
0.13
0.550.55
0.55-0.252.10
0.55
0.930.83
0.89+0.010.93
0.38
15.23 14.92 15.12 - 0.07 16.55 13.55
85.8382.35
83.25 -1.0585.83
45.75
78.9775.26
76.33 -1.7478.99
42.56
0.660.60
0.61+0.010.75
0.25
0.680.56
0.59-0.010.68
0.13
U.S. Silver (USA.WT) - Wt buys sh @ $0.155 to Jul 26/14.
Veris Gold (VG.WT) – Wt buys sh @ $2.35 to Dec 18/16.
Vista Gold (VGZ.WT.U) - Wt buys sh @ US$5 to Oct 22/15.
Supplied by TMX Group.
TSX VENTURE EXCHANGE WARRANTS
Brazil Resources (BRI.WT) - Wt buys sh @ $0.75 to Dec 31/18.
Delta Gold (DLT.WT) - Wt buys sh @ $0.17 to Sept 14/17.
Dunav Resources (DLT.WT) - Wt buys sh @ $0.50 to Mar 6/16.
Feronia (FRN.WT.A) - Wt buys sh @ $0.30 to Jul 24/14.
Kilo Goldmines (KGL.WT) - Wt buys sh @ $0.15 to Mar 30/16.
Monarques Resources (MQR.WT) - Wt buys sh @ $0.20 to Dec
14/15.
NexGen Energy (NXE.WT) – Wt buys sh @ $o.65 to Mar 26/16
Noront Resources (NOT.WT) - Wt buys sh @ $4 to Dec 16/14.
Northquest (NQ.WT) - Wt buys sh @ $0.50 to Dec 21/14.
Oceanic Iron Ore (FEO.WT.A) - Wt buys sh @ $0.65 to Nov
30/15. (FEO.WT.B) - Wt buys sh @ $1 to Nov 30/15.
Sendero Mining (SM.WT) - Wt buys sh @ $0.40 to Jul 9/14.
Sunridge Gold (SGC.WT) – Wt buys sh @ $0.35 to Oct 18/17.
Tembo Gold (TEM.WT) – Wt buys sh @ $1.75 to Dec 29/14.
True Gold Mining (TGM.WT) – Wt buys sh @ $0.47 to Aug
18/14.
West African Iron Ore (WAI.WT) - Wt buys sh @ $0.57 to Mar
31/16.
West African Resources (WAF.WT) - Wt buys sh @ $0.40 to Jan
17/17.
West Kirkland Mining (WKM.WT) - Wt buys sh @ $0.30 to Apr
17/19.
Supplied by TMX Group Inc.
EXCHANGE RATES
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)
Aug 4
Aug 1
July 31
July 30
July 29
Date
US$ in C$ N/A 1.09191.08901.09091.0851
C$ in US$ N/A 0.91580.91830.91670.9216
EXCHANGE RATES (Bank of Canada, August 1, 2014)
Aus $
Euro
Japan
Mex P
SA Rand
UK £
Currency
1.0158 1.46700.010660.082610.1020 1.8378
In C$
In US$
0.9303 1.3435 0.009760.075660.09342 1.6831
Stock
SPECIAL NOTICE FOR SUBSCRIBERS
TSX WARRANTS
Alamos Gold (AGI.WT) - Wt buys sh @ US$29.48 to Aug 30/18.
Coeur Mining (CDM.WT) - Exercisable on a cashless basis. See
TSX Bulletin 2013-0377 for calculation. To Apr 16/17
Crocodile Gold (CRK.WT) - Wt buys sh @ $2.25 to Mar 24/16.
Dalradian Resources (DNA.WT) - Wt buys sh @ $0.90 to Feb
19/15.
Dundee Precious Metals (DPM.WT.A) - Wt buys sh @ $3.25 to
Nov. 20/15.
Franco Nevada (FNV.WT.A) - Wt buys sh @ $75 to Jun 16/17.
Gran Colombia Gold (GCM.WT) - Wt buys sh @ $65.00 to Aug
24/15. (GCM.WT.A) - Wt buys sh @ $3.25 to Mar 18/19.
IMX Resources (IXR.WT) - Wt buys sh @ C$0.62 or A$0.60 to
Sep 14/15.
Kerr Mines (KER.WT) - Wt buys sh @ $0.35 to Oct. 31/14.
Kinross Gold (K.WT.D) - Wt buys sh @ US$21.30 to Sept 17/14.
Labrador Iron Mines (LIM.WT) - Wt buys sh @ $1.35 to Feb
13/16.
Lupaka Gold (LPK.WT) - Wt buys sh @ $2.25 to Jun 28/14.
MBAC Fertilizer (MBC.WT) - Wt buys sh @$1.00 to Apr 17/19.
Mega Uranium (MGA.WT.B) - Wt buys 1.11 sh @1.13 to Oct
26/14.
New Gold A (NGD.WT.A) - Wt buys sh @ $15 to June 28/17.
Pilot Gold (PLG.WT) - Wt buys sh @ $2.20 to Oct 31/14.
Primero Mining (P.WT) - Wt buys sh @ $8 to July 20/15. (P.WT.A)
- Wt buys 0.175 sh @ $2.20 and 0.1 sh Fortune Bay to Nov
19/14. (P.WT.B) - Wt buys 1 sh @ $0.2395 and 0.1369 sh Fortune
Bay to Nov 19/14.
Rio Novo Gold (RN.WT) - Wt buys sh @ $2.25 to Mar 8/15.
Rubicon Minerals (RMX.WT) – Wt buys sh @$2 to Mar 12/15.
Sandstorm Gold (SSI.WT.A) Wt buys 1/5 sh @ US$5 to Oct
19/15. (SSI.WT.B) Wt buys sh @ US$14 to Sep 7/17. (SSI.WT.C)
Wt entitles holder to receive 0.145 of a sh to Oct 7/14.
Stonegate Agricom (ST.WT.A) - Wt buys sh @ $0.40 to Jul 24/15.
Torex Gold (TXG.WT) – Wt buys sh @ $1.50 to Aug 12/14.
(100s)
Sandspring Res
V4887
Sandstorm Gld*
X
31774
Sandstorm Gold
T10236
Santa Barb Res V 1720
Santa Fe Metls V 2440
Santacruz SilvV 1660
Sarama Res V1030
Satori Res V8411
Saturn Minls V5506
Savant Expl V1113
Saville Res V 556
Scorpio GoldV5274
Scorpio Mining
T6514
Seabridge Gld* N 24179
Seabridge Gold T 4087
Seafield Res V49105
Search Mnls V14751
Secova Mtls V 750
Sego Res V3310
Selwyn Res V 46
Semafo
T40341
Sennen Res V1040
Sentry Sl PrmM T 1363
Serabi Gold T3281
Serengeti ResV 151
SGX Res V 50
Sherritt Intl T48521
Shore Gold T3559
Sienna Res V2387
Sierra Iron Or V
150
Sierra Madre D V
813
Sierra MetalsT37969
Signature ResV1300
Silver Bear Rs T
241
Silver Bull R*
X 20467
Silver Bull Re T
591
Silver PredatrV 210
Silver Range R V 1089
Silver Std Res T 14691
Silver Std Re* Q 56869
Silver Wheatn*N
154696
Silver WheatonT61151
Silvercorp Mt*N8976
Silvercorp MtlT5710
SilverCrest M*X7848
SilverCrest MnT4581
Silvermet V 521
Simba Gold V 80
SinoCoking Cl*
Q
13685
Sirios Res V2352
Skeena Res V 424
Skyharbour Res
V4548
Slam Exploratn
V1637
Sniper Res V 240
SnipGold V1865
Soc Quim&M Ch*N 14396
Softrock MnrlV 320
Solitario Ex&RT 11
Solitario Ex&*X1083
Solomon ResV 300
Soltoro
V2718
Solvista GoldV 967
Sonora Gld & S V
895
Sonoro Mtls V1500
Source Expl V9346
Southern ArcV1620
Southern SilvrV3400
SouthGobi Res
T3553
Spanish Mtn Gd V 4121
Sparton Res V 130
Sprott Ph Silv T
183
Sprott Res T5620
Spruce Ridge R V 1080
Spur Vent V1345
St Andrew Gldf T 5668
St Augustine T 553
St-Georges Plt
C5893
Stakeholdr Gld
V3778
Standard Graph
V 776
Stans EnergyV9563
Starcore Int V T 3964
Stellar Pac Vt V
315
Stelmine CanV 312
Stikine EnergyV2565
Stillwater Mg* N
144006
Stina Res V 765
Stonegate Agri
T1738
Stornoway Diam
T56487
Strait Mnls V1930
Strata Mnls V 98
Stratabd MnrV 140
Strateco ResT3811
Strategic MetlV1300
Stratton Res V 332
Strike Graph V 929
StrikePoint GdV2205
Sulliden GoldT22919
Sultan Mnrls V3570
SunCoke Engy*N 5085
Sunridge GoldV5040
Sunset Cove Mg V 6090
Sunward ResT1749
Suparna GoldV1300
Superior Coppr
V1582
Superior MngV 109
Sutter Gold V12194
0.300.25
0.27-0.010.44
0.18
7.076.62
6.85-0.037.69
3.94
7.637.21
7.51+0.088.19
4.17
0.02 0.02 0.02 0.00 0.13 0.02
0.06 0.05 0.05 - 0.01 0.10 0.03
0.90 0.840.85 -0.01 1.550.67
0.170.15
0.17+0.010.35
0.07
0.060.05
0.05+0.010.17
0.01
0.200.19
0.20-0.010.23
0.07
0.040.04
0.04-0.020.10
0.01
0.070.05
0.06-0.050.10
0.02
0.240.19
0.21-0.010.41
0.13
0.330.31
0.31-0.020.48
0.18
9.62 8.15 9.36 + 1.05 17.24 6.65
10.50 8.82 10.19 + 1.22 18.11 7.09
0.010.01
0.010.000.06
0.01
0.050.03
0.05+0.010.06
0.03
0.050.05
0.050.000.07
0.02
0.040.03
0.04-0.010.11
0.03
2.151.91
2.15+0.052.55
0.94
4.934.60
4.65-0.175.31
1.56
0.060.06
0.060.000.13
0.04
4.27 4.09 4.10 - 0.07 4.59 2.74
0.120.11
0.110.000.12
0.06
0.060.06
0.060.000.11
0.03
0.030.03
0.030.000.14
0.02
4.654.30
4.34-0.104.90
2.82
0.320.27
0.31+0.040.45
0.12
0.070.06
0.06-0.010.25
0.05
0.18 0.18 0.18 + 0.03 0.60 0.11
0.02 0.01 0.01 0.00 0.04 0.01
1.901.58
1.750.002.30
1.41
0.020.02
0.02-0.010.10
0.02
0.15 0.14 0.14 - 0.01 0.24 0.07
0.28 0.26 0.28 + 0.03 0.44 0.22
0.32 0.28 0.32 + 0.04 0.47 0.25
0.070.06
0.06-0.010.12
0.03
0.11 0.10 0.10 0.00 0.20 0.09
10.40 9.67 9.89 - 0.13 13.52 5.38
9.62 8.87 9.05 - 0.21 12.21 5.18
26.9425.89
26.08 -0.6329.17
19.23
29.1328.22
28.51 -0.3730.65
20.53
1.951.84
1.87+0.014.21
1.59
2.101.99
2.04+0.024.43
1.73
2.152.00
2.03-0.072.78
1.42
2.342.19
2.22-0.053.05
1.49
0.110.09
0.09-0.020.11
0.04
0.010.01
0.010.000.02
0.01
2.191.81
1.85-0.042.25
0.83
0.130.12
0.12-0.020.24
0.06
0.100.09
0.09-0.020.14
0.02
0.080.07
0.080.000.18
0.06
0.030.03
0.030.000.08
0.03
0.060.06
0.060.000.07
0.02
0.080.06
0.06-0.030.22
0.04
29.48 27.22 27.52 - 1.26 37.49 22.50
0.020.02
0.020.000.04
0.01
1.621.62
1.62+0.041.84
0.76
1.581.45
1.55+0.051.67
0.76
0.020.02
0.02-0.010.03
0.01
0.150.13
0.14-0.010.30
0.08
0.160.14
0.15-0.030.23
0.07
0.02 0.01 0.01 - 0.01 0.04 0.01
0.140.14
0.14+0.060.36
0.11
0.150.11
0.15+0.030.15
0.01
0.050.05
0.050.000.15
0.03
0.020.02
0.020.000.04
0.01
0.670.56
0.59-0.051.44
0.47
0.07 0.06 0.07 + 0.01 0.16 0.05
0.010.01
0.010.000.02
0.01
8.25 8.16 8.18 - 0.08 10.00 7.36
3.273.12
3.12-0.113.76
2.23
0.03 0.02 0.03 0.00 0.07 0.01
0.320.29
0.30+0.020.40
0.27
0.32 0.29 0.30 0.00 0.42 0.22
0.130.13
0.130.000.27
0.10
0.070.04
0.060.000.19
0.01
0.240.19
0.20-0.040.32
0.01
0.040.04
0.040.000.13
0.03
0.230.19
0.21-0.010.27
0.05
0.17 0.14 0.16 - 0.01 0.27 0.14
0.05 0.05 0.05 - 0.01 0.13 0.05
0.030.03
0.030.000.04
0.02
0.020.02
0.020.000.04
0.01
19.4216.96
17.95 -1.1119.42
10.42
0.110.09
0.09-0.020.30
0.08
0.180.16
0.18-0.010.30
0.13
0.700.65
0.68-0.021.22
0.49
0.020.01
0.01-0.010.11
0.01
0.130.13
0.13+0.010.35
0.05
0.050.04
0.04+0.010.09
0.02
0.050.05
0.050.000.16
0.04
0.430.40
0.43+0.010.50
0.32
0.150.14
0.15-0.010.20
0.07
0.080.06
0.080.000.16
0.03
0.020.02
0.020.000.05
0.01
1.461.36
1.40+0.021.52
0.60
0.020.01
0.010.000.02
0.01
23.4822.74
23.01 -0.2823.90
15.47
0.210.20
0.21+0.010.31
0.13
0.01 0.01 0.01 0.00 0.04 0.01
0.220.19
0.19-0.010.74
0.13
0.050.04
0.05+0.010.05
0.02
0.170.15
0.17+0.020.18
0.03
0.010.01
0.010.000.03
0.01
0.100.08
0.090.000.25
0.06
(100s)
Stock
Week
12-month
T
TAD Mnl Expl V
600
Tahoe Res* N 1455
Tahoe Res T12594
Taipan Res V10965
Tajiri Res V 990
Taku Gold V2240
Talon Metals T24828
Tanz Roy Exp T 1011
Tanz Roy Exp* X 11152
Tanzania MnlsV 400
Taranis Res V 920
Tarsis Res V 190
Tasca Res V 226
Taseko Mines*X
10551
Taseko MinesT5729
Tasman Metals
V 790
Tasman Mtls*X2535
Tawsho Mng V 160
Tearlach Res V1000
Teck Res A
T
37
Teck Res B*
N 114022
Teck Res B
T 110589
Tembo Gold V2072
Temex Res V15799
Teranga GoldT58723
Teras Res V 746
Terra Firma Rs V
600
Terraco Gold V2889
Terrax Minls V 514
Teryl Res Corp V 2050
Teuton Res V3489
Theia Res V 250
Themac Res V15871
Thompson Creek
T9951
Thompson Crk*
N
10750
Thor Expl V 400
Thunder Mtn Gd V
10
Tiller Res V 110
Timberline Res
V 282
Timberline Rs*X
11502
Timmins Gold*X
10665
Timmins GoldT29280
Tinka Res V2096
Tintina Res V1465
Tirex Res V7387
Titanium CorpV1122
TNR Gold V 777
Tolima Gold V 920
TomaGold V3805
Torex Gold T76608
Tosca Mng V1092
Transition MtlV 314
Treasury MetalT2226
Tres-Or Res V 506
Trevali Mng T71664
Tri Origin Exp V 11030
TriAusMin T2466
Tribute Res V 20
TriMetals MngT4316
Troy Res T1485
Troymet ExplV 400
True Gold Mng V 16847
True North Gem V 5085
Trueclaim ExplV 280
Tsodilo Res V 61
Turquoise HIl*N
21234
Turquoise HillT33628
TVI Pacific T4405
Tyhee Gold V7313
Typhoon ExplV 95
0.01 0.01 0.01 0.00 0.04 0.01
27.4826.19
26.76 -0.1427.48
14.06
29.8228.56
29.24 +0.1929.82
14.65
0.440.37
0.38-0.030.66
0.23
0.030.03
0.030.000.25
0.03
0.030.02
0.030.000.03
0.01
0.360.30
0.31-0.050.44
0.17
2.68 2.40 2.68 + 0.22 4.40 1.75
2.45 2.20 2.44 + 0.18 4.15 1.63
0.020.02
0.020.000.09
0.02
0.050.05
0.05-0.010.10
0.03
0.070.07
0.07+0.010.13
0.06
0.060.06
0.060.000.24
0.04
2.422.26
2.26-0.062.66
1.78
2.612.48
2.50-0.032.79
1.90
1.201.10
1.140.002.08
0.70
1.121.00
1.04-0.031.89
0.66
0.060.05
0.06-0.010.14
0.05
0.070.06
0.06-0.010.11
0.05
28.10 27.04 27.55 + 0.68 32.45 24.05
24.75 23.47 23.77 + 0.34 30.02 19.99
26.98 25.39 25.99 + 0.63 31.25 22.53
0.070.06
0.06-0.010.20
0.06
0.090.08
0.080.000.17
0.06
0.860.71
0.73-0.111.22
0.42
0.150.14
0.15-0.010.84
0.14
0.01 0.01 0.01 + 0.01 0.05 0.01
0.190.17
0.180.000.23
0.09
0.450.41
0.42-0.030.90
0.13
0.04 0.03 0.03 - 0.02 0.07 0.02
0.060.05
0.060.000.19
0.04
0.130.13
0.13+0.030.21
0.10
0.080.04
0.05-0.030.25
0.04
3.103.00
3.07+0.044.25
1.84
2.872.75
2.82+0.024.05
1.73
0.060.05
0.05+0.010.12
0.04
0.07 0.07 0.07 0.00 0.16 0.04
0.310.31
0.31+0.030.50
0.06
0.130.10
0.12-0.030.38
0.09
0.140.12
0.13-0.010.35
0.09
1.941.77
1.82-0.092.26
0.97
2.091.93
2.00-0.062.33
1.00
0.310.28
0.28-0.040.78
0.25
0.140.10
0.14+0.030.33
0.10
0.330.27
0.29-0.050.47
0.15
1.701.62
1.650.002.02
0.38
0.040.03
0.040.000.06
0.02
0.030.03
0.03-0.010.08
0.02
0.100.09
0.100.000.22
0.09
1.561.48
1.51-0.021.99
0.85
0.020.02
0.020.000.12
0.02
0.370.33
0.34+0.010.49
0.03
0.450.40
0.44+0.040.63
0.28
0.020.02
0.020.000.03
0.01
1.371.27
1.32+0.011.39
0.62
0.03 0.02 0.02 + 0.01 0.05 0.01
0.080.06
0.070.000.08
0.02
0.100.10
0.10+0.030.14
0.05
0.200.18
0.20+0.021.38
0.17
1.190.80
0.81-0.351.93
0.68
0.020.01
0.01-0.010.03
0.01
0.46 0.43 0.44 - 0.02 0.49 0.24
0.10 0.09 0.10 - 0.01 0.17 0.06
0.170.10
0.17-0.010.75
0.10
1.301.20
1.20-0.101.85
0.53
3.613.35
3.39-0.124.35
2.94
3.913.65
3.71-0.085.68
3.20
0.020.02
0.02-0.010.03
0.01
0.090.08
0.080.000.12
0.06
0.120.11
0.12+0.010.27
0.08
U3O8 Corp T8743
UC Res
V 125
Ucore Rare Mtl V 5054
UEX Corp T23826
Ultra Lithium V8680
Unigold
V7427
Unity Energy V 10
Ur-Energy T2851
Ur-Energy* X5932
Uracan Res V1755
Uragold Bay Rs V
760
Uranerz Energy
T1104
Uranerz Energ*
X
34842
Uranium Ener*X
24261
Uranium Partic
T20621
Uranium Res*Q
10743
Uravan MinlsV 520
US Energy* Q6319
US Silica Hld* N 17729
US SIlver & Go T 2594
Vale*
N
219823
ValGold Res V3000
Valterra Res V 320
Vanstar Mng Rs V
310
Vantex Res V 600
Vatic Vent V 690
Vega Mng V 42
Vena Res T 871
Vendome ResV6660
Venerable Vent
V 270
Verde PotashT1194
Victoria GoldV7582
Victory NickelT29328
Victory Res V 780
Victory Vent V 110
Viking Gold V1150
Vior Mining V 30
Virginia EngyV 424
Virginia Mines T 386
Viscount MngV 550
Visible Gold M V 2465
Vista Gold T 226
Vista Gold* X7001
VMS Vent V2334
Volcanic MtlsV 70
Vulcan Mnrls V 120
VVC Expl V18249
0.110.10
0.11+0.020.26
0.08
0.040.04
0.04-0.010.25
0.04
0.39 0.35 0.35 0.00 0.50 0.18
0.460.42
0.43+0.010.64
0.31
0.030.02
0.03-0.010.08
0.02
0.040.03
0.040.000.11
0.03
0.090.09
0.09+0.010.26
0.07
1.291.20
1.21-0.062.21
0.96
1.191.10
1.11-0.071.99
0.92
0.080.07
0.08+0.010.18
0.04
0.06 0.05 0.06 + 0.01 0.11 0.04
1.321.22
1.27-0.052.18
0.84
1.231.11
1.13-0.091.97
0.80
1.771.60
1.62-0.072.65
0.94
5.254.90
5.18+0.255.99
4.70
2.702.48
2.56+0.035.53
2.21
0.130.12
0.12-0.030.15
0.04
4.303.93
4.00-0.275.08
1.82
63.25 55.05 56.08 - 4.37 63.25 21.67
0.59 0.55 0.58 - 0.01 0.84 0.25
14.9313.95
14.01 -0.5517.14
12.29
0.020.02
0.02-0.010.09
0.02
0.050.04
0.05+0.020.07
0.02
0.08 0.08 0.08 0.00 0.20 0.05
0.040.04
0.040.000.10
0.03
0.070.06
0.070.000.20
0.06
0.020.02
0.020.000.15
0.02
0.080.07
0.08-0.010.12
0.04
0.040.03
0.03-0.010.13
0.03
0.030.03
0.030.000.04
0.02
0.880.79
0.84+0.012.00
0.19
0.150.13
0.14-0.010.17
0.08
0.070.06
0.060.000.09
0.02
0.070.06
0.070.000.12
0.05
0.020.02
0.020.000.10
0.02
0.010.01
0.010.000.04
0.01
0.020.02
0.020.000.04
0.01
0.070.07
0.070.000.31
0.07
12.8212.50
12.51 -0.1914.459.51
0.250.23
0.25+0.020.28
0.11
0.08 0.07 0.07 - 0.01 0.12 0.02
0.520.49
0.50-0.021.16
0.36
0.480.45
0.47-0.001.15
0.33
0.310.30
0.310.000.34
0.16
0.150.15
0.15-0.040.29
0.04
0.040.04
0.04-0.010.07
0.03
0.040.04
0.040.000.08
0.03
Wallbridge Mng
T1265
Walter Energy* N 32854
Waseco Res V 212
WCB Res V2051
Wealth Minls V1127
Wescan Goldfie
V 10
Wesdome Gold
T2540
West Af Iron O V 22063
West High Yld V
260
West KirklandV4095
Western Copper
T 447
Western Coppr*
X 106
Western LithiuT65664
Western Melv M V 1305
Western Pac Rs V
565
Western Potash
T5129
Westhaven Vent
V 300
Westkam Gold
V4834
Westminster Rs
V3100
WestStar ResV 916
White Tiger Mg V
920
Wildcat Expl V 220
Wildcat SilverT2673
Williams Creek
V 370
Wolf Res Dev V
895
Wolfden Res V2405
Wolfpack Gold
V 110
Wolverine Mnls
V 192
WPC Res V 650
Xemplar Energy
V5614
Xinergy
T 620
Xmet
V14521
Xtierra
V 336
Xtra-Gold ResT 100
Yamana Gold* N 61035
Yamana Gold T 218474
Yanzhou Coal* N 7457
Yellowhead Mng
T 362
Zadar Vent V1417
Zazu Metals T 693
Zena Mng V 100
Zenyatta VentV5294
Zephyr Mnls V 590
Zimtu CapitalV 728
Zinco Mng V 580
Zincore Mtls T 641
Zone Res V1185
0.090.09
0.090.000.12
0.05
6.16 5.58 5.67 - 0.19 19.50 4.25
0.070.07
0.07-0.010.09
0.02
0.350.35
0.35-0.010.43
0.16
0.030.02
0.02-0.010.06
0.02
0.040.04
0.040.000.05
0.02
0.900.85
0.85-0.050.99
0.35
0.02 0.02 0.02 + 0.01 0.04 0.01
0.36 0.34 0.36 + 0.02 0.54 0.26
0.150.13
0.14+0.010.29
0.05
0.860.82
0.83-0.031.10
0.53
0.800.76
0.78-0.020.99
0.50
0.700.54
0.70+0.140.95
0.14
0.05 0.04 0.05 + 0.01 0.11 0.04
0.15 0.15 0.15 0.00 0.19 0.07
0.380.34
0.36-0.010.70
0.26
0.100.10
0.10-0.010.14
0.05
0.050.04
0.040.000.07
0.03
0.030.03
0.03+0.010.09
0.03
0.040.04
0.040.000.16
0.03
0.10 0.06 0.06 - 0.03 0.12 0.03
0.080.08
0.080.000.12
0.05
0.530.50
0.51-0.010.69
0.28
0.070.07
0.07-0.010.20
0.06
0.20 0.19 0.20 + 0.02 0.23 0.05
0.180.16
0.180.000.45
0.13
0.090.08
0.09+0.010.13
0.05
0.130.13
0.13-0.010.18
0.05
0.030.03
0.030.000.03
0.01
0.060.04
0.05+0.010.09
0.03
0.390.37
0.38+0.010.74
0.13
0.040.03
0.040.000.19
0.01
0.090.07
0.08+0.020.28
0.06
0.260.26
0.26+0.020.50
0.24
8.83 8.18 8.66 + 0.35 12.50 7.03
9.63 8.91 9.47 + 0.48 13.16 7.62
8.63 8.07 8.32 + 0.26 11.26 6.32
0.170.15
0.15-0.010.29
0.15
0.060.06
0.06-0.010.33
0.06
0.580.55
0.550.000.69
0.48
0.120.12
0.12-0.010.24
0.08
2.011.86
1.90-0.044.97
1.80
0.160.15
0.15+0.010.22
0.12
0.590.50
0.53-0.040.75
0.28
0.100.05
0.10+0.020.12
0.01
0.180.13
0.13-0.050.34
0.07
0.040.04
0.040.000.14
0.02
U-V
W-Z
STOCK MISSING OR INCORRECT? Let us know at
1-416-510-6764 or [email protected]. Data
supplied by Reuters Canada.
14-08-06 8:00 PM
10
AUGUST 11-17, 2014
THE NORTHERN MINER
NEW 52-WEEK
HIGHS AND LOWS
— JUL 28-AUG 1, 2014
71 New Highs
Agnico-Eagle*
Agnico-Eagle
Alliance Rs P*
Altan Nev Mnls
Alum Cp China*
Arctic Star Rs
Augusta Res
Augusta Res*
Aurania Res
Bacanora Mnls
Balmoral Res
BHP Billi-BBL*
BHP Billi-BHP*
Canadn Mining
Canterra Mnls
Compliance Eny
Constant Mtl R
Copper Ck Gold
Corsa Coal
Critical Elem
Cypress Dev
Dacha Str Mtls
Dejour Enterp
Dejour Enterp*
El Tigre Silvr
Elgin Mng
Eurotin
Evrim Res
Falcon Gold
First Quantum
Gold Reserve
Greenflag Vent
Gresham Res
Harte Gold
Homestake Res
HudBay Minls
Infinito Gold
Iron Tank Res
Lake Shore Gld
Largo Res
Lumina Copper
Mandalay Res
Marathon Gold
MDN Inc
Merrex Gold
Mindoro Res
Murgor Res
Nemaska Lith
Nomad Ventures
Northern Graph
Oceanus Res
Odin Mng & Exp
Phoenix Gold
Prime Merid Rs
Providence Res
Radisson Mng
Regulus Res
Rhino Res*
Roxgold
Royal Gold
RPT Uranium
Samco Gold
Serabi Gold
Silvermet
Source Expl
Stillwater Mg*
Sultan Mnrls
Tahoe Res*
Tahoe Res
TriAusMin
US Silica Hld*
140 New Lows
Aben Res
Adex Mining
Advance Gold
Aegean Metals
Afri-Can Marin
African Metals
AgriMinco
Alberta Star
Aldrin Res
Alix Res
Am Cons Minls
Amato Expl
AMI Res
Anconia Res
Angus Mng Nami
Antioquia Gold
Appalaches Res
Arch Coal*
Arctic Hntr Ur
Argentex Mng
Auramex Res
Avala Res
Avalon Rare M*
Azincourt Res
Banro
Banro*
Barker Mnrls
Bitterroot Res
Black Iron
Blackstone Ven
Blind Crk Res
Brookemnt Cpt
Cadan Res
Callinex Mines
Camino Mnls
Canadn Int Mnl
Canadn Orebods
Caracara Silvr
Carlisle Goldf
CB Gold
Champion Iron
Cliffmont Res
Colonial Coal
Comstock Mtls
Cons Woodjam C
Copper One
Coro Mining
Cougar Mnls
Crazy Horse Rs
Dajin Res
Diamond Fields
Dios Expl
Ditem Explor
Donner Metals
Dunav Res
Eagle Hill Exp
Eco Oro Mnls
Excalibur Res
Fieldex Expl
Forum Uranium
Frontline Gold
Glen Eagle Res
Global Met Cl
Globex Mng
Golden Hope
GoldQuest Mng
Great Atlantic
Great Bear Res
GTA Res & Mng
Handa Copper
Hudson River M
Infinito Gold
Inform Res
Jet Gold
Kermode Res
Lucky Strike R
Mainstream Mnl
Makena Res
Marengo Mng
Maritime Res
MBAC Fertilizr
Medallion Res
Megastar Dev
Millrock Res
Montero Mg&Ex
Monument Mng
Namibia Rare E
Network Expl
Nevada Expl
Nevado Res
New Milln Iron
New World Res
Newstrike Res
Nitinat Mnls
Northcore Res
Nubian Res
NWM Mng
Oceanic Iron O
OM Group*
Oroco Res
Passprt Potash
Plata Latina M
Plate Res
Plato Gold
Playfair Mng
PNG Gold
Puma Expl
QMC Quantum Ml
Quest Rare Mnl
Quest Rare Mn*
Quia Res
Rainbow Res
Ram Power
Rapier Gold
Rotation Mnls
Sacre-Coeur Ml
San Marco Res
Santa Barb Res
Seafield Res
Search Mnls
Simba Gold
Slam Exploratn
Strait Mnls
Sunset Cove Mg
Tajiri Res
Tanzania Mnls
Tawsho Mng
Teras Res
Tintina Res
Tosca Mng
Trueclaim Expl
UC Res
Ultra Lithium
ValGold Res
Vatic Vent
Vega Mng
Virginia Engy
Western Melv M
Westminster Rs
Zadar Vent
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BID-ASK — JUL 28-AUG 1, 2014
12-MONTH
STOCK
Acme Res
Adroit Res
Afferro Mng
African Queen
Aldershot Res
Alita Res
Allied Gold
Alpha Gold
Alpha Mnls
Altiplano Mnls
Altitude Res
Alturas Minls
Amanta Res
Amara Mng
Amcol Intl*
American Bonan
Amerix Pr Mtls
Amseco Expl
Anfield Res
Anglo Pac Grp
Anglo-Bomarc
Ansell Capital
Arcturus Res
Argentum Silvr
Argus Metals
Armadillo Res
Arrowhead Gold
Arrowstar Res
Artha Res
Asia Now Res
AsiaBaseMetals
Astar Mnls
Astorius Res
Atacama Pac Gd
Auracle Res
Azumah Res
Bama Gold
Bear Lake Gold
Benton Cap
Black Isle Res
Black Widow Rs
Blue Gold Mng
Bonaparte Res
Bonterra Res
Brazilian Gold
Brigadier Gold
Brilliant Res
Brionor Res
Buccaneer Gold
Calvista Gold
Canada Fluorsp
Canadn Silvr H
Cancor Mines
Cannon Pnt Res
Carrie Arran R
Castle Peak Mg
Caza Gold
Celeste Copper
Central Iron O
Central Res
Channel Res
Chilean Gold
CIC Energy
Citation Res
Clear Mtn Res
Cline Mng
CMQ Res
Cobalt Coal
Cobriza Mtls
Coeur Mng
Colombia Crest
Colossus Minls
Columbus Expl
Comet Inds
Contintl Nickl
Coronado Res
Creso Expl
Cresval Cap
Crosshair Eny*
Cuervo Res
Curlew Lke Res
Darnley Bay
Darwin Res
Deer Horn Mtls
Delta Gold
Desert Gold
Diamonds North
Dominion Mnls*
Duncan Park H
DV Res
Eagle Mtn Gold
Ecometals
El Condor Mnls
Elemental Mnls
Esperanza Res
Eureka Res
Evolving Gold
Extorre Gold M
Finlay Minrls
Fire River Gol
Firebird Res
Firesteel Res
Freeport Res
G4G Res
Gem Intl Res
Geocom Res*
Geomark Expl
Georox Res
Gitennes Expl
Global Hunter
Global Ur Fund
Gold Finder Ex
Goldbank Mng
Golden Band
Golden Bridge
Golden Harp
GoldMountain*
Gonzaga Res
Granite Ck Gld
Green Valley M
Grenville Gold
Gryphon Gold
GTO Res
Highbury Proj
Hunter Bay Mnl
Huntington Exp
ICN Res
Indigo Expl
Inform Expl
Inova Res
Inter-Citic Mn
Inter-Rock Mnl
Intl Bethl Mng
Intl Enexco
Intl Millm Mng
Intl Minls Crp
Intl Samuel Ex
Intrepid Mns
Invenio Res
Iron Creek Cap
James Bay Res
Jasper Mng
Jazz Res
Jiminex
Jiulian Res
Kalimantan Gld
Kesselrun Res
Killdeer Mnls
Kimber Res
Kingsman Res
La Quinta Res
La Ronge Gold
Letho Res
Lipari Energy
Lithium One
Logan Res
Long Harbour E
Lornex Cap
EXC
V
V
V
V
V
V
T
V
V
V
V
V
V
T
N
T
V
V
V
T
V
V
V
V
V
C
V
V
V
V
V
V
V
V
V
T
V
V
V
V
V
V
V
V
V
V
V
V
V
T
V
V
C
V
V
V
V
V
V
V
V
V
T
V
V
T
V
V
V
T
V
T
V
V
V
V
V
V
X
C
V
V
V
V
V
V
V
Q
V
V
V
V
V
T
V
V
T
T
V
V
V
V
V
V
V
Q
V
V
V
V
T
V
V
V
V
V
Q
V
V
V
V
T
V
V
V
V
V
V
V
T
T
V
V
V
V
T
V
T
V
V
V
V
V
V
V
V
V
V
T
V
V
V
V
T
V
V
V
V
BID
0.05
0.01
1.10
0.03
0.01
0.05
2.25
0.05
5.55
0.02
0.20
0.02
0.01
0.20
45.74
0.02
0.01
0.01
0.40
3.15
0.05
0.04
0.01
0.01
0.05
0.01
0.04
0.02
0.01
0.02
0.05
0.15
0.05
0.71
0.01
0.02
0.05
0.03
0.05
0.02
0.06
0.46
0.05
0.01
0.10
0.01
0.05
0.02
0.03
1.09
0.35
0.04
0.01
0.14
0.08
0.02
0.09
0.01
0.01
0.04
0.04
0.02
1.99
0.07
0.12
0.01
0.02
0.01
0.12
12.03
0.01
0.02
0.16
1.55
0.40
0.14
0.12
0.02
0.02
0.01
0.02
0.03
0.05
0.04
0.02
0.08
0.02
0.08
0.01
0.03
0.14
0.04
0.01
0.18
1.01
0.03
0.01
4.27
0.03
0.01
0.02
0.05
0.03
0.01
0.01
0.05
0.96
0.08
0.02
0.04
1.64
0.07
0.03
0.02
0.20
0.05
0.04
0.05
0.02
0.01
0.04
0.01
0.10
0.35
0.01
0.02
0.06
0.03
0.20
0.16
2.04
0.02
0.01
0.41
0.03
2.80
0.02
0.25
0.03
0.18
0.10
0.11
0.04
0.02
0.06
0.02
0.03
0.02
0.15
0.11
0.01
0.30
0.13
0.46
1.15
0.03
0.13
0.10
12-MONTH
ASK
LAST
HIGH
LOW
STOCK
0.05
0.01
2.50
0.03
0.01
0.10
2.29
0.06
5.68
0.04
0.22
0.04
0.02
0.29
45.75
0.02
0.01
0.04
0.67
3.52
0.08
0.04
0.02
0.02
0.10
0.05
0.05
0.03
0.01
0.03
0.10
0.20
0.09
0.90
0.01
0.03
0.06
0.04
0.05
0.03
0.08
0.49
0.12
0.01
0.10
0.01
0.06
0.03
0.04
1.10
0.35
0.05
0.02
0.20
0.10
0.02
0.12
0.01
0.01
0.06
0.06
0.03
2.00
0.08
0.15
0.01
0.04
0.01
0.13
12.64
0.01
0.02
0.23
2.00
0.90
0.18
0.12
0.03
0.03
0.01
0.03
0.03
0.05
0.05
0.03
0.10
0.03
0.18
0.01
0.08
0.17
0.05
0.01
0.25
1.03
0.07
0.02
4.28
0.03
0.02
0.02
0.06
0.04
0.01
0.01
0.09
1.00
0.09
0.02
0.05
1.67
0.08
0.05
0.02
0.30
0.09
0.05
0.25
0.04
0.01
0.05
0.01
0.16
0.50
0.01
0.03
0.07
0.03
0.30
0.20
2.05
0.04
0.01
0.41
0.03
2.83
0.03
0.26
0.05
0.20
0.54
0.15
0.20
0.02
0.10
0.02
0.05
0.03
0.16
0.24
0.02
0.30
0.16
0.49
1.18
0.04
0.25
0.18
0.05
0.01
1.57
0.06
0.01
0.10
2.25
0.05
5.45
0.03
0.22
0.03
0.01
0.21
45.74
0.02
0.01
0.05
0.38
3.10
0.06
0.05
0.01
0.01
0.10
0.02
0.04
0.03
0.01
0.02
0.04
0.15
0.06
0.90
0.01
0.02
0.05
0.04
0.06
0.02
0.08
0.47
0.05
0.01
0.11
0.02
0.05
0.02
0.03
1.09
0.35
0.04
0.01
0.21
0.10
0.02
0.08
0.01
0.01
0.03
0.05
0.03
1.99
0.07
0.10
0.01
0.02
0.01
0.12
12.09
0.01
0.04
0.19
1.55
0.40
0.18
0.12
0.02
0.02
0.01
0.02
0.03
0.05
0.05
0.02
0.08
0.02
0.01
0.01
0.04
0.13
0.05
0.01
0.20
1.01
0.03
0.01
4.27
0.03
0.01
0.02
0.06
0.04
0.01
0.01
0.02
0.98
0.09
0.02
0.05
1.64
0.12
0.03
0.02
0.28
0.05
0.05
0.10
0.03
0.01
0.04
0.01
0.11
0.50
0.01
0.03
0.06
0.03
0.16
0.15
2.04
0.03
0.01
0.41
0.04
2.83
0.02
0.26
0.04
0.18
0.54
0.02
0.09
0.02
0.07
0.02
0.04
0.02
0.15
0.25
0.01
0.33
0.18
0.47
1.15
0.03
0.12
0.10
0.17
0.02
2.40
0.08
0.02
0.10
3.70
0.25
7.60
0.06
0.62
0.08
0.03
1.72
47.09
0.06
0.02
0.06
1.10
4.00
0.09
0.10
0.04
0.09
0.17
0.02
0.18
0.07
0.01
0.05
0.07
0.30
0.15
1.52
0.05
0.11
0.10
0.06
0.09
0.03
0.13
0.95
0.11
0.04
0.25
0.04
0.11
0.05
0.04
1.10
0.35
0.08
0.05
0.31
0.14
0.06
0.26
0.02
0.02
0.30
0.09
0.17
2.45
0.10
0.14
0.84
0.05
0.03
0.16
20.14
0.03
3.40
0.30
2.30
1.12
0.30
0.13
0.04
0.26
0.06
0.04
0.05
0.20
0.10
0.07
0.13
0.08
0.09
0.02
0.07
0.42
0.05
0.02
0.55
1.70
0.09
0.07
11.27
0.06
0.01
0.04
0.11
0.05
0.01
0.05
0.03
1.00
0.11
0.03
0.09
2.05
0.12
0.06
0.08
0.35
0.40
0.35
0.15
0.10
0.02
0.12
0.13
0.11
0.65
0.05
0.05
0.30
0.04
0.16
0.60
2.05
0.03
0.04
0.55
0.05
4.92
0.07
0.31
0.04
0.42
0.52
0.64
0.22
0.04
0.08
0.06
0.08
0.04
0.40
0.25
0.03
0.35
0.49
0.49
1.46
0.07
0.30
0.20
0.04
0.01
0.00
0.02
0.01
0.06
0.00
0.04
0.00
0.02
0.21
0.02
0.01
0.00
0.00
0.00
0.01
0.02
0.20
2.50
0.04
0.02
0.01
0.01
0.03
0.01
0.02
0.02
0.01
0.01
0.04
0.14
0.05
0.57
0.01
0.00
0.01
0.00
0.03
0.01
0.06
0.00
0.00
0.01
0.00
0.02
0.05
0.02
0.03
0.00
0.00
0.03
0.00
0.13
0.05
0.01
0.06
0.01
0.01
0.09
0.00
0.03
0.00
0.00
0.07
0.00
0.00
0.01
0.00
0.00
0.01
0.00
0.05
1.55
0.00
0.13
0.00
0.01
0.00
0.01
0.02
0.03
0.00
0.04
0.02
0.07
0.00
0.00
0.01
0.01
0.00
0.02
0.01
0.00
0.00
0.03
0.00
0.00
0.02
0.01
0.01
0.03
0.03
0.01
0.01
0.00
0.00
0.04
0.01
0.04
0.00
0.07
0.02
0.01
0.24
0.05
0.00
0.07
0.03
0.01
0.03
0.00
0.03
0.50
0.01
0.01
0.00
0.02
0.07
0.00
0.00
0.01
0.01
0.00
0.02
0.00
0.02
0.00
0.01
0.14
0.52
0.12
0.07
0.01
0.05
0.02
0.03
0.01
0.00
0.02
0.01
0.08
0.12
0.00
0.00
0.03
0.06
0.00
Lovitt Res
MacMillan Mnls
Magellan Minls
Magma Metals
Mammoth Res
Marklnd AGF PM
Masuparia Gold
Matnic Res
McChip Res
McVicar Res
Meadow Bay Gd
Mediterrn Res
Mega Copper
Menika Mining
Messina Minls
Midasco Cap
Milner Con Slv
Mineral Depost
Mineral Hill
Miocene Mtls
Mirabela Nickl
Moly Mines
Monster Uran
Mountain Lake
Navasota Res
New Dawn Mng
New Destiny Mg
New Dimen Res
New Guinea Gld
New Nadina
New Oroperu Rs
Newcrest Mng
Newmac Res
Newmont Mng
Noble Metal Gr
Noram Vent
Nortec Mnls
North Am Pot D
Northern Abiti
Novadx Vent
NSGold
NSX Silver
NWT Uranium
Oakmont Mnls
Oceanside Cap
Opawica Expl
Open Gold
Oremex Silver
Orko Silver
Orofino Mnls
Oronova Res
Orsa Vent
Osisko Mng
Otterburn Res
Pac Arc Res
Pac Rim Mining
Pac Wildcat Re
Pan Global Res
Paragon Minls
Penteco Res
Pinecrest Res
Pitchstone Exp
Platinex
PMI Gold
Portage Mnls
Portola Res
Premier Roy
Proam Expl
Prospctr C Res
PVR Partners*
Quartz Mtn Res
Rainy River Rs
REBgold
Red Cresc Res
Red Rock Enrgy
Reliant Gold
Remington Res
Remo Res
Resolve Vent
Revolver Res
Ridgemont Ir O
Rio Silver
RJK Explor
Roca Mines
Rock Tech Lith
Rockex Mng
Rockgate Cap
Ross River Mnl
Royal Coal
RX Gold & Silv
Sable Res
San Antonio Vt
Sandstorm Mt&E
Sedex Mng
Senator Minls
Sendero Mng
Senior Gld Prd
SG Spirit Gold
Signal Expl
Silver Fields
Silver Grail R
Silver Mtn Mns
Silver Pursuit
Silver Shield
Silver Spruce
Silvermex Res
Silvore Fox Ml
Sirocco Mng
Slater Mng
Sona Res
Southern Hemis
St Elias Mns
Stockport Expl
Strategic Res
Strongbow Expl
Stroud Res
Swift Res
Takara Res
Tanqueray Expl
Terreno Res
Teslin Rvr Res
Thelon Cap
Threegold Res
Tiger Intl
Tigray Res
Tintina Mines
Toro Res
Trend Mng*
Tri-River Vent
Trio Gold Corp
TTM Res
Tumi Res
Unique Res
United Silver
Uranium One
Uranium Valley
Vaaldiam Mng
Valhalla Res
Vangold Res
Vendetta Mng
Veris Gold
Viper Gold
Volta Res
Walter Energy
War Eagle Mg
Waymar Res
West Cirque Rs
Westcore Energ
Western Areas
Western Troy C
Westridge Res
WGI Heavy Mnl
Whetstone Mnls
White Pine Res
Windarra Minls
Windfire Cap
Windstorm Res
Witwatersrand
World Vent*
Zonte Mtls
EXC
V
V
V
T
V
T
V
V
V
V
T
T
V
V
V
V
V
T
V
V
T
T
V
V
V
T
V
V
V
V
V
T
V
T
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
T
V
V
T
V
V
V
V
V
V
V
T
C
V
T
V
V
N
V
T
V
T
V
V
V
V
V
V
V
V
V
V
V
T
T
V
V
V
V
V
V
V
V
V
T
V
V
V
V
V
V
V
V
T
V
T
V
V
V
V
T
V
V
V
V
V
V
V
V
V
V
V
V
V
V
Q
V
V
V
V
V
T
T
V
T
V
V
V
T
V
T
T
V
V
V
V
T
V
V
T
V
V
V
V
V
T
Q
V
BID
0.06
0.01
0.11
0.09
0.03
5.86
0.08
0.33
1.40
0.47
0.17
0.03
0.07
0.09
0.06
0.01
0.05
5.00
0.08
0.02
0.02
0.06
0.02
0.32
0.07
0.10
0.03
0.01
0.01
0.01
0.24
12.10
0.25
26.37
0.01
0.03
0.02
0.02
0.01
0.01
0.03
0.01
0.02
0.04
0.05
0.04
0.02
0.02
1.94
0.04
0.04
0.10
8.62
0.15
0.01
0.07
0.02
0.10
0.06
0.05
0.04
0.09
0.01
0.48
0.01
0.21
0.74
0.02
0.05
27.44
0.06
3.37
0.13
0.02
0.01
0.02
0.05
0.09
0.11
0.01
0.02
0.01
0.01
0.03
0.01
0.03
0.30
0.01
0.03
0.23
0.01
0.13
1.20
0.01
0.09
0.01
4.78
0.04
0.04
0.03
0.03
0.03
0.07
0.01
0.01
0.50
0.04
0.34
0.04
0.09
0.04
0.02
0.06
0.01
0.11
0.01
0.04
0.03
0.06
0.02
0.02
0.07
0.01
0.31
0.09
0.05
0.01
0.05
0.08
0.01
0.03
0.13
0.14
0.01
2.85
0.09
0.26
0.01
0.02
0.20
0.10
0.01
0.33
7.10
0.04
0.09
0.23
0.02
3.75
0.02
0.06
0.59
0.01
0.05
0.05
0.09
0.04
1.08
0.01
0.06
ASK
LAST
HIGH
LOW
0.10
0.02
0.13
0.09
0.05
8.25
0.09
0.33
1.63
0.49
0.17
0.03
0.10
0.12
0.10
0.01
0.07
5.09
0.10
0.02
0.02
0.07
0.04
0.35
0.10
0.16
0.04
0.02
0.01
0.02
0.30
12.90
0.37
26.90
0.02
0.04
0.03
0.02
0.02
0.01
0.03
0.02
0.02
0.07
0.07
0.05
0.03
0.03
1.99
0.05
0.06
0.10
8.62
0.25
0.03
0.08
0.02
0.12
0.07
0.06
0.06
0.09
0.02
0.50
0.02
0.21
0.76
0.03
0.99
27.46
0.07
3.37
0.14
0.02
0.02
0.03
0.10
0.15
0.13
0.01
0.02
0.01
0.02
0.03
0.01
0.04
0.35
0.01
0.01
0.24
0.02
0.16
1.37
0.02
0.13
0.01
4.88
0.05
0.06
0.05
0.04
0.04
0.07
0.01
0.01
0.55
0.04
0.36
0.06
0.12
0.06
0.02
0.07
0.01
0.12
0.01
0.05
0.03
0.06
0.03
0.02
0.07
0.02
0.65
0.13
0.08
0.02
0.05
0.13
0.01
0.04
0.15
0.30
0.01
2.86
0.11
0.27
0.02
0.03
0.35
0.10
0.01
0.34
7.82
0.04
0.13
0.26
0.03
8.54
0.02
0.10
0.60
0.01
0.05
0.07
0.10
0.05
1.18
0.51
0.08
0.07
0.02
0.12
0.09
0.04
5.82
0.09
0.10
1.52
0.49
0.17
0.03
0.08
0.14
0.06
0.01
0.07
4.75
0.11
0.01
0.02
0.06
0.02
0.32
0.07
0.13
0.04
0.02
0.01
0.01
0.30
12.11
0.25
26.25
0.01
0.04
0.03
0.02
0.02
0.01
0.03
0.01
0.05
0.08
0.05
0.04
0.02
0.03
1.99
0.04
0.03
0.10
8.64
0.18
0.02
0.07
0.02
0.13
0.06
0.05
0.06
0.09
0.01
0.48
0.02
0.20
0.76
0.03
0.05
27.44
0.04
3.42
0.16
0.01
0.01
0.03
0.06
0.10
0.10
0.01
0.02
0.01
0.01
0.03
0.02
0.04
0.30
0.01
0.01
0.24
0.01
0.13
1.36
0.01
0.09
0.01
4.78
0.03
0.05
0.03
0.03
0.03
0.06
0.01
0.01
0.53
0.04
0.35
0.05
0.09
0.04
0.03
0.06
0.01
0.11
0.01
0.04
0.03
0.09
0.02
0.02
0.05
0.01
0.29
0.10
0.05
0.02
0.01
0.08
0.01
0.04
0.13
0.13
0.02
2.85
0.10
0.26
0.02
0.02
0.28
0.15
0.01
0.33
7.15
0.04
0.10
0.26
0.03
4.00
0.02
0.08
0.59
0.01
0.06
0.06
0.17
0.05
1.08
0.02
0.07
0.27
0.06
0.19
0.28
0.09
10.41
0.12
0.17
1.98
0.52
0.27
0.05
0.18
0.40
0.13
0.02
0.07
6.95
0.18
0.03
0.62
0.15
0.05
0.82
0.15
1.10
0.05
0.05
0.01
0.04
0.40
31.00
0.68
44.66
0.02
0.22
0.06
0.07
0.03
0.01
0.08
0.05
0.05
0.08
0.08
0.12
0.04
0.04
2.63
0.08
0.08
0.15
86.70
0.20
0.03
0.11
0.10
0.30
0.12
0.06
0.12
0.21
0.02
0.72
0.03
0.28
2.60
0.04
0.09
29.22
0.12
6.10
0.16
0.11
0.03
0.09
0.06
0.22
0.17
0.12
0.28
0.05
0.05
0.03
0.20
0.30
0.53
0.03
0.21
0.60
0.04
0.20
3.54
0.02
0.33
0.08
7.48
0.07
0.06
0.07
0.09
0.06
0.24
0.01
0.02
0.88
0.07
0.89
0.07
0.20
0.20
0.06
0.09
0.02
0.35
0.02
0.15
0.07
0.10
0.04
0.03
0.17
0.03
0.66
0.15
0.09
0.05
0.11
0.11
0.03
0.05
0.18
0.21
0.14
2.86
0.15
0.27
0.02
0.09
0.35
0.95
0.03
0.57
21.20
0.10
0.20
0.54
0.05
6.11
0.04
0.08
0.60
0.04
0.18
0.09
0.21
0.19
1.50
0.10
0.14
0.05
0.01
0.06
0.00
0.03
0.00
0.05
0.03
1.17
0.00
0.13
0.02
0.06
0.06
0.00
0.01
0.04
0.00
0.06
0.01
0.00
0.00
0.02
0.00
0.03
0.00
0.01
0.01
0.01
0.01
0.10
0.00
0.07
0.00
0.01
0.03
0.02
0.01
0.01
0.01
0.02
0.01
0.05
0.03
0.02
0.01
0.01
0.02
0.00
0.03
0.03
0.00
0.00
0.09
0.01
0.00
0.01
0.04
0.00
0.00
0.05
0.00
0.01
0.00
0.00
0.16
0.00
0.01
0.03
0.00
0.04
0.00
0.00
0.00
0.01
0.01
0.03
0.10
0.10
0.01
0.00
0.01
0.01
0.00
0.10
0.00
0.00
0.01
0.00
0.00
0.01
0.06
0.00
0.01
0.05
0.01
0.00
0.02
0.02
0.03
0.02
0.02
0.05
0.01
0.01
0.00
0.00
0.00
0.02
0.01
0.00
0.02
0.03
0.01
0.10
0.01
0.03
0.03
0.01
0.01
0.01
0.01
0.01
0.15
0.00
0.03
0.02
0.00
0.06
0.01
0.03
0.05
0.12
0.00
0.00
0.03
0.00
0.01
0.02
0.35
0.00
0.01
0.00
0.00
0.03
0.00
0.00
0.02
0.00
0.01
0.02
0.00
0.00
0.04
0.00
0.02
0.00
0.00
0.00
0.03
14-08-06 8:00 PM
Iron Ore
Experts
Canada’s East Coast
Pages 11-14
Trusted Worldwide
wgm.ca
August 11-17, 2014
Anaconda Mining’s Pine Cove gold mine in north-central Newfoundland.
ANACONDA MINING
Trevali to restart
Caribou mine
BY GWEN PRESTON
VANCOUVER — With $51 million in new debt funding on hand,
Trevali Mining (TSX: TV; USOTC: TREVF) is finding that it’s
a good time to rehabilitate an
underground zinc mine in New
Brunswick.
The Caribou mine and
3,000-tonne-per-day mill complex,
located 50 km west of Bathurst, has
operated intermittently since 1970.
The owner before Trevali spent
more than $100 million rehabilitating the mill facility before restarting the mine. The operation ran for
13 months before the global recession and failing zinc prices forced
the mine into receivership.
Now zinc prices are at a threeyear high and Trevali is getting
ready to restart Caribou on its
own terms.
A preliminary economic assessment (PEA) of the restart released
in May outlines a mine producing
93 million lb. zinc, 32.5 million lb.
lead, 3.1 million lb. copper, 730,000
oz. silver and 1,500 oz. gold annually for six years.
Operating costs should average
US65¢ per lb. zinc, after by-products and royalties. Copper will be
a new by-product at Caribou, as
Trevali is adding a copper-recovery circuit to the mill.
That effort is already underway,
as is rehabilitation of the underground mine.
“The nice thing is that the sector
is still in the doldrums — zinc is
doing great, but all the contractors
are available,” president and CEO
of Trevali Mark Cruise said. “All
the big guys bid on the underground development and mining
contract and it came in under budget — that tells you how hungry
they are for work. And the really
nice thing is that you’re getting the
‘A’ teams, because not many of the
majors are doing anything.
“Then there’s all the staff available from the closure of Brunswick
12 — pretty much all of our staff
are former Xstrata staff who are
just incredibly experienced guys
and girls,” Cruise continued.
“They’re been doing it a long time,
they’re used to the rock type,
they’re used to the polymetallic
mineralization — it’s a huge derisker, really it is. We’ve got a great
ops team out there.”
Brunswick 12 is a nearby underground polymetallic mine that operated for almost 50 years until
Glencore (LSE: GLEN) shut it
down in early 2013.
Trevali is aiming to commission
the new-and-improved Caribou
mine before mid-2015. The company took a big step closer to that
goal in May when it closed a
$51.5-million debt facility. The
company sold 52,500 units at $980
a piece, with each unit comprising
See TREVALI, Page 12
Minco plans Maritime
manganese mine
VANCOUVER — Dublin-registered Minco PLC (LSE: MIO) is
planning to produce high-grade
manganese from its Woodstock
project in New Brunswick for 25%
below the industry’s average cost,
and supply the North American
and European steel markets that
rely on increasingly fragmented
Chinese and South African output
for the popular ingredient.
According to an independent
preliminary economic assessment
(PEA), for $864 million Minco
could turn Woodstock into an
open-pit mine churning through
3,000 tonnes of ore per day to produce 80,000 tonnes of electrolytic
manganese metal (EMM) per year
over a 40-year mine life.
The investment would give
Minco an operation with a
$461-million after-tax net present
value and a 14.4% after-tax internal
rate of return, helping the project
repay its capital costs in seven
years. Those estimates use a
US$1.38 per lb. manganese price
and an 8% discount rate.
The Woodstock mine could pro-
duce a pound of EMM for US68¢
over its 40-year mine life. By contrast, the reported average cost of
production in China, which accounts for 98% of the world’s
EMM output, is US91¢ per lb.
The Woodstock project is located 5 km west of the town of
Woodstock and the junction of
the Trans-Canada and U.S. I95
highways in west-central New
Brunswick, and 10 km from the
U.S. border.
Woodstock offers several advantages. First, the deposit is amenable to open-pit mining and offers a 1.34 strip ratio. This
translates to a mining cost of US4¢
per lb. EMM. In China, where
grades are declining and ore increasingly comes from underground mines, mining costs average US27¢ per lb. EMM.
Second, electricity rates in New
Brunswick are relatively low and
stable, which means power adds
US17¢ to the cost of producing each
pound of EMM. In China, power
adds an average of US30¢ to the
Rambler has big plans
for Atlantic Canada
RAMBLER METALS AND MINING
A vessel docked at Rambler Metals and Mining’s Goodyear’s Cove copper concentrate storage and shipping facility in
Newfoundland.
Since the start of commercial production in November 2012 at its
first mine — the Ming copper–
gold mine in Baie Verte, N.L. —
Rambler Metals & Mining
(TSXV: RAB; LSE: RMM) has generated $31 million in operating
cash flow and repaid a multi-million credit facility. In February the junior cleared
the remaining $1 million of its
credit facility with Sprott Resource Lending Corp. and is now
debt free and profitable. Its Ming
mine — based on an underground
volcanic massive sulphide style
copper deposit with anomalously
high gold grades — remains open
in multiple directions, including
at depth.
In the three months ended April
30, Rambler produced 6,238 dry
tonnes of copper concentrate (up
36% year-on-year) containing
1,829 tonnes copper metal, 1,608 oz.
gold and 13,196 oz. silver. Average
feed grades at Rambler’s Nugget
Pond mill were 3.84% copper, 1.62
grams gold per tonne and 11.70
grams silver, with mill-recovery
rates of 96.4% copper, 66.2% gold
and 79.2% silver.
Rambler shipped 8,301 dry
tonnes during the period via its
concentrate storage and shipping
facility at Goodyear’s Cove, 140
km from the Nugget Pond mill,
and posted a net profit of $2.3 million, or $0.016 per share, up from
$193,000 in the third quarter of
2013. (In this year’s second quarter Rambler’s net profit reached
$1.03 million, or $0.007 per
share.) As of April 30 Rambler
held $6.3 million in cash. This
amount grew to $8.7 million by
June 19.
Rambler’s Ming property contains the former producing Ming
and Ming West copper–gold mines.
The Ming mine last operated in 1982
and over a decade produced 2.1 mil-
lion tonnes at 3.5% copper, 2.5
grams gold per tonne and 11 grams
silver per tonne. The Ming West
mine operated for a short period in
1995–96, producing 271,000 tonnes
grading 4% copper and 5.8 grams
gold per tonne.
Ming consists of several zones
(1805 to 1807, the North and South
zones, and the Lower Footwall
zone). The 1806 zone is a highgrade gold zone grading over 4
grams gold per tonne and 1807 is a
copper-rich zone. Rambler has
also discovered the high-grade
Upper Footwall zone, which sits
stratigraphically between the
Ming deposit and the Lower Footwall zone.
In June 2013 Rambler received
funding from the Research & Development Corp. of Newfoundland and Labrador (RDC) to research two projects associated
with advancing the Ming mine.
See RAMBLER, Page 14
High Impact Projects
in New Brunswick
• Exploration for bedrock
source of recent Zn-Pb-Ag
boulder discoveries
• 5 historical Zn-Pb-Ag deposits
• Au-Sb Clarence Stream property
WWW.WOLFDENRESOURCES.COM
TSX-V WLF
Telephone 647 925 9457
See MINCO, Page 12
14-08-06 8:00 PM
12
AUGUST 11-17, 2014
C a n a d a ’s E a s t C o a s t
THE NORTHERN MINER
Trevali to restart Caribou mine
TREVALI MINING
The mill at Trevali Mining’s past-producing Caribou zinc–lead–copper–silver–gold mine, 50 km west of Bathurst, New Brunswick.
TREVALI, From Page 11
$1,000 worth of 12.5% senior-secured notes due in five years, and
123.2 warrants exercisable at $1.26
for five years.
“Construction and everything
was pending the close of the debt
facility, so from mid-June onward
we’ve been hard at it out east,”
Cruise said. (Trevali is based on
Vancouver.)
The debt facility provides more
than enough funding to get Caribou up and running. The PEA estimates the restart will cost just
$36.3 million. The semi-autogenous grinding mill will be installed soon over about three
months. The float cells that make
up the new copper circuit will be
installed simultaneously and
there is enough room within the
mill building to accommodate the
new copper system.
The underground is still being
dewatered and will need some
work, but Cruise says the mine is in
good condition.
“It was fully flooded,” Cruise
said. “We’re at about 45% dewatered. We dewatered all winter but
it was through the shaft, so it was
pretty slow. Now we’re down to
the second level, which is where
all the underground infrastructure
is installed . . . we’re going to be
reinstalling the dewatering pumps,
and that will ramp up the pace.”
The company is working from
the PEA for now, but Trevali is pursuing other options to enhance the
operation. For example, Cruise explained that the conservative PEA
assumed the mine would use dry
waste rock as backfill. An alternative is to grind the waste rock and
mix it with water to create a paste
that can backfill mined-out areas.
The paste hardens like concrete
and the added stability means miners can remove more of the pillars
of remnant ore that otherwise have
to be left behind to support the void.
“We’ve got over 9 million tonnes
of mineable resource at Caribou,
but only 6.1 million are in the mine
plan,” he said. “That means we’ve
got 3-million-plus tonnes that are
not creating value. One way to capture that is with paste backfill: we
could be able to recover 1.5 to 2 million additional tonnes, which
would extend the mine life one and
a half to two years.”
Trevali hopes to have the paste
backfill study complete by yearend. Provided the results are positive, the company will update the
PEA. Capital costs will rise slightly
to cover the expense of a paste
facility, but Cruise expects the
benefits will outweigh this.
“Operating costs are actually
cheaper — what you’re doing is
moving a slurry underground, so
you pump it down instead of using
trucks,” Cruise said. “You increase
your overall recovery of your deposit, it’s cheaper opex and you
decrease the amount of dilution in
any individual stope, so it actually
ups your head grade as well.”
The other way to enhance Caribou is to add resources. The deposit at Caribou, which comprises
a steeply dipping lens of volcanogenic massive sulphide mineralization, remains open at depth.
Trevali also owns the Halfmile
mine 20 km south, which for a
short time in 2012 sent ore to
Brunswick 12 for processing and
is home to 6.3 million indicated
tonnes grading 8.1% zinc, 2.6%
lead, 0.2% copper and 30.78 grams
silver per tonne, plus a similar
number of inferred tonnes at a
slightly lower grade.
And a few kilometres east of
Halfmile is Stratmat, another Trevali property with 5.5 million inferred tonnes averaging 6.1% zinc,
2.6% lead, 0.4% copper and 54.21
grams silver, plus considerable
exploration potential.
“Resources are not actually a
struggle, but we do like adding value
with the drill bit,” Cruise said.
Early this year Trevali drilled one
deep hole underneath the Caribou
deposit to test for depth extension.
The hole probed more than a kilo-
metre underground and as a proof
of concept it worked, returning 6
metres of mineralized massive sulphide from 450 metres below the
known resource.
“Later this year or early next year
we are planning an underground
drill program to chase that deeper,
but it doesn’t make sense to drill it
from surface,” Cruise said. “We’re
also pretty aggressively drilling at
Stratmat: we’re almost 20,000 metres through a 30,000-metre program. The rationale there is to con-
vert the current inferred resource
to a higher confidence category and
really to update our PEA, because
it is pretty outdated.”
Cruise says ideally Trevali
would like to see Stratmat and Halfmile support a second stand-alone
4,000- to 5,000-tonne-per-day
facility.
“The nice thing is, though, that
even if for whatever technical
reason it doesn’t make sense to
do that, we mine Caribou out and
then start bringing in Halfmile
and Stratmat, which would extend the Caribou mine life beyond thirty years.”
Trevali also owns and operates
the Santander zinc–lead–silver mine
inwest-centralPeru,whichachieved
commercial operation in February.
Trevali’s share price has climbed
in recent weeks, closing at $1.32 on
the last day of July to mark a 30%
gain in six weeks. The company has
a 52-week trading range of 62¢ to
$1.39, and 280 million shares outstanding.
Minco plans manganese mine
A drill site at Minco PLC’s Woodstock manganese project in New Brunswick, 10 km from the U.S. border.
MINCO, From Page 11
per-pound cost.
There are two types of mineralization at Woodstock: red and
grey. Both types of rock comprise
rhodochrosite, a manganese carbonate mineral, within an ironrich matrix.
The presence of manganese as
rhodochrosite is an advantage. The
carbonate mineral is readily soluble in acid. Many other manganese
deposits host oxide forms of the
metal, which are not acid soluble
and can only be recovered through
roasting and reduction.
The red-versus-grey difference
is because the iron at Woodstock
comes in two forms. The red mineralization contains iron that is
mostly oxide. The iron in the grey
rock is primarily in carbonate
form. This matters because the
carbonate iron is more readily
leachable and consumes more sul-
phuric acid, boosting operating
costs.
The open-pit resource considered in the PEA stands at 41.4 million tonnes grading 9.9% manganese. Of that 60% is red
mineralization, with grey rock making up the rest.
The Woodstock PEA describes
a 40-year mine life, with open-pit
mining for the first 13 years. During open-pit mining the highestgrade ore would be sent for processing, bearing an average
grade of 11.7% manganese. The
rest of the ore would be stockpiled to help feed the processing
plant for the next 27 years, during which time the head grade
would be 9.9% manganese.
There are several steps involved
in producing EMM. First the ore is
pre-concentrated: magnetic separation pulls out iron, which has the
bonus of upgrading the mill feed
MINCO PLC
to an average grade of 15.65% manganese and generating iron concentrate as a co-product. In fact,
the mine would also produce
23,200 tonnes of 62% iron-ore
fines annually.
The manganese ore is then
leached with sulphuric acid at a
controlled tempertature, which
optimizes acid consumption. Trace
heavy metals are removed and the
manganese sulphate solution is
subjected to electrolysis to produce EMM grading better than
99.7% manganese.
The process requires a steady
supply of sulphuric acid as well as
lime. To meet demand the PEA envisions a sulphuric acid plant and
a lime kiln on-site.
On news of the Woodstock PEA
Minco’s share price gained slightly
more than a pence to close at
£0.031. The company has 478 million shares outstanding.
14-08-06 8:00 PM
Wolfden strives for discoveries
in historic Bathurst camp
WOLFDEN RESOURCES
A high-grade zinc–lead–silver boulder at Wolfden Resources’ Tetagouche
polymetallic project in New Brunswick.
VANCOUVER — Base metals explorer Wolfden Resources
(TSXV: WLF) may hold a sizable
land package in the historically productive Bathurst mining camp, but
according to CEO George Topping
the company is all about new discoveries.
In early January Wolfden acquired a 100% stake in the 200 sq.
km Tetagouche property 20 km
from Glencore’s (LSE: GLEN)
shuttered Brunswick No. 12 zinc–
copper mine and mill. The land
package hosts five historic volcanogenic massive sulphide (VMS)
deposits, but the company’s efforts are focused on finding the
bedrock source of a series of highgrade polymetallic boulders on
the project’s eastern flank.
data that dates back to the 1960s.
Topping notes that the company
was drawn to the high-grade boulder samples that lie on the eastern
part of the project within a series
of valleys.
After the tabletop review
Wolfden set out on its own groundprospecting campaign in a bid to
nail down targets for a 3,000-metre
scout drill program scheduled for
September. The work led to discovering high-grade massive sulphide boulders near a large lead–
zinc soil anomaly and
moderate-strength airborne electromagnetic anomaly.
Prospecting samples were highlighted by 20.1% zinc, 4.2% lead,
0.33% copper and 623 grams silver
per tonne from boulder 10-2, and
‘The last bull market cycle in zinc was in
2007, and we think it’s time for the metal to
have another run.’
—George Topping, CEO, Wolfden Resources
Topping joined Wolfden’s management team in December after
a 25-year career in the industry,
which included time as managing
director and senior mining analyst at the Canadian arm of investment firm Stifel Nicolaus. The
company’s experienced team also
includes chairman Ewan Downie
— who helms Premier Gold
Mines (TSX: PG; US-OTC:
PIRGF) as president and CEO —
and president Donald Hoy, who
formerly served as vice-president
exploration and development for
Cliffs Natural Resources
(NYSE: CLF).
“I spent sixteen years as a mining analyst here in Canada, and
covered a lot of the senior companies during that time. I also have
some experience on the junior
side and had covered a good deal
of VMS deposits,” Topping recounts during an interview.
“When my firm decided to withdraw from Canada I explored opportunities in industry. I knew
Ewan previously from his work at
Premier, and he had a good reputation in Toronto.”
Wolfden’s first task was to tackle
a wealth of historic exploration
19.8% zinc, 3.88% lead, 0.33% copper and 595 grams silver from boulder 10-2. Taken in context of historic data Wolfden believes it may
have found a high-grade boulder
train that has yet to be sourced to
bedrock.
“The ground prospecting identified the new, promising boulders. Joining those up with the
boulders in Valley 5, we noted
they are pretty much identical in
terms of mineralogy,” Topping
says. “Following the train in a
straight line from the east through
the new boulders leads us to an
area of historic soil anomalies,
which is the principal target for
our [mid-year]exploration. We’re
currently completing a variety of
geophysics over that area of interest. We’re following the fold along
the Spruce Lake formation because that’s highly relevant to all
the significant VMS deposits in
the area.”
Geological evidence suggests
that the boulders have been
moved by glacial and melt-water processes, with the source
possibly situated within
Wolfden’s claim area. But the
polymetallic grades found dur-
WOLFDEN RESOURCES
Wolfden Resources president Don Hoy (left) and geologist Art Hamilton at the McMaster deposit, one of five VMS
deposits at the Tetagouche property in New Brunswick.
ing prospecting are higher than
those found in the historic, upice deposits.
The largest of the historic deposits is Canoe Landing Lake, which
consists of 22.8 million tonnes averaging 1.82% zinc, 0.64% lead,
0.56% copper, 32 grams silver and
1.17 grams gold. Wolfden’s current
interest — outside of the boulder
prospectivity — lies around its
Armstrong A and McMaster deposits. Armstrong A hosts 3.4 million tonnes grading 2.26% zinc,
0.42% lead, 0.29% copper, 25.4
grams silver and 0.4 gram gold.
McMaster holds 250,000 tonnes of
0.75% copper.
“We drilled three holes at Armstrong A that focus in on historic
induced-polarization (IP) targets.
Since it takes time to do the surface work to determine the bedrock source of the high-grade
boulders, we decided to look at
some of the historic areas,” Topping says. “Those targets are priority targets that we would need
to test at some point in time, so we
popped some holes there during
the interim. These are large stepouts away from the Armstrong A
resource. The deposit isn’t open,
so these are prospective holes
aimed at finding something new.”
Based on IP surveys and limited
diamond drilling Wolfden believes
that the stratigraphic horizon that
hosts Armstrong A could also host
massive-sulphide deposits.
Meanwhile, the company will
drill at McMaster to test targets that
are associated with a prominent IP
anomaly, which is continuous along
strike for close to 2 km. Previous
trenching 600 metres southwest of
the deposit uncovered massive sulphides over a 2-metre width assaying 5% lead–zinc.
“We would be willing to joint
venture some of the greater land
package to reduce the load on
ourselves. The historic deposits
are up for negotiation because
they are not key properties for
us,” Topping notes. “We’d talk to
a partner on those. What’s not
available is the prospective area
where the source of the highgrade boulders might originate.
We believe that’s a new discovery
and it’s definitely our focus moving forward.”
Wolfden began cutting line at the
new target area in late June, with
drilling for the bedrock source of
the high-grade boulders scheduled
for late September after mapping,
soil sampling, gravity, max–min and
magnetic surveys.
In order to fund its Tetagouche
program Wolfen closed a $1.3-million non-brokered private placement in early April. The company
issued 6.25 million flow-through
units at a price of 20¢ per unit.
Wolfden will spend $800,000 on
the project this year, with the remaining flow-through dollars earmarked to follow-up on any promising drill results.
Wolfden shares have traded in a
52-week range of 13¢ to 45¢, and
closed at 18¢ per share at press time.
The company has 57 million shares
outstanding — with ownership
jointly holding a 20% stake — for a
$10.2-million market capitalization.
“From the market point of view,
when the investment dollars start
to look at pure zinc opportunities,
there are very few available. Most
of the larger zinc mines are within
diversified portfolio, so they are
unsuitable for focused investment,” Topping says. “You
have Trevali Mining (TSX: TV;
US-OTC: TREVF) nearby, and
then you’re down into the smaller
companies. It’s difficult to get that
investment in zinc. The last bullmarket cycle in zinc was in 2007,
and we think it’s time for the metal
to have another run.”
A MINE OF SOLUTIONS
Technical, economic and feasibility studies
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Mine planning, design and simulation
Plant design and simulation
Project management
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Commissioning assistance
Power generation
Power transmission and distribution
Process optimization and control
14-08-06 8:00 PM
Alderon Iron Ore
signs offtake deal
with Glencore
Alderon Iron Ore (TSX: ADV;
NYSE-MKT: AXX) has secured a
second offtake agreement for iron
ore from its 75%-owned Kami
project in the Labrador Trough,
bringing it one step closer to a financing agreement for the US$1.3billion project.
Alderon’s latest offtake deal with
a subsidiary of resources giant
Glencore (LSE: GLEN) will obligate the commodities trader and
miner to buy 40% of the iron-ore
concentrate produced at Kami,
which would translate to 3.2 million tonnes per year. The agreement would remain in place until
Glencore receives 48 million
tonnes of concentrate, which is expected in the project’s fifteenth
year of commercial production.
Kami project,” Alderon president
and CEO Tayfun Eldem said in a
release.
“The offtake arrangement with
Glencore gives Kami concentrates
global exposure, and the multi-year
agreement serves as another significant de-risking milestone for
the Kami project.”
Alderon has finished other milestones toward development this
year, including signing a benefits
agreement with the province of
Newfoundland and Labrador, and
receiving the mining and surface
leases it needs to begin construction. The company has added
heavy hitters from BHP Billiton
Iron Ore and Shell Canada to its
board.
Capital costs to build Kami were
Capital costs to build an iron ore
mine at Kami were estimated at
US$1.3 billion in a December 2012
feasibility study.
The junior has lined up buyers
for 100% of future production.
Alderon already had an offtake
agreement with Hebei Iron and
Steel Group Co., its 25% partner at
Kami and China’s largest steelmaker. Hebei has the right to buy
60% of Kami’s annual production,
and owns nearly 20% of Alderon’s
shares.
Glencore will pay a market price
for Kami offtake based on Platts’
quoted monthly average price for
iron-ore sinter feed fines for 62%
iron content, minus a 2% discount.
(A premium will be paid for concentrate with greater than 62%
iron.)
The offtake with Hebei is under
the same pricing terms, except that
the steelmaker gets a steeper discount of 5% off the market price.
“With 100% of the initial production from the Kami project now
committed, we believe this enhances Alderon’s ability to obtain
the requisite financing required to
commence construction of the
estimated at US$1.3 billion in a December 2012 feasibility study. The
project is forecast to produce an
average 8 million tonnes of ironore concentrate annually — grading 65.2% iron — over a 30-year
mine life.
The feasibility study pegged
the project’s after-tax net present
value at US$1.9 billion and its internal rate of return at 23.1%,
using an 8% discount rate.
The study assumed Kami concentrate would sell at US$107 per
tonne for the first five years of
production, and US$102 per tonne
thereafter. Operating costs are
forecast at US$42.17 per tonne.
The Kami property is located
next to the towns of Wabush and
Labrador City, with rail access to a
deep-sea port.
Alderon shares climbed by 8¢,
or 6.2%, to $1.37 on the offtake
news. The company has 130.1 million shares outstanding, and has
traded in a 52-week range of 97¢
to $2.13.
LIM remains in limbo
Not much has happened at Labrador Iron Mines (TSX: LIM; USOTC: LBRMF) since the company
announced in June that it would
suspend operations at its directshipping iron ore Schefferville
projects in the Labrador Trough
region, partly due to dipping ironore prices.
The Schefferville projects sit in
the Menihek area in the provinces
of Newfoundland and Labrador
and Quebec, near the town of
Schefferville, Que. The projects
include the James mine and adjacent stage-one deposits and Silver
Yards processing plant, the stagetwo Houston property and the
stage-three Howse property. The
latter is a joint venture with Tata
Steel Minerals Canada (TSMC), a
subsidiary of Tata Steel Ltd.
LIM started commercial production at the James mine in June
2011 and wrapped up its third year
of mining last November. Over
that period, it sold 3.6 million dry
tonnes of iron ore into the Chinese
spot market.
The company’s operations are
seasonal, running from April to
November, and remain closed
from December to March each
year.
In late June, LIM revealed in its
fiscal year results ended in March
that it did not restart mining operations in April 2014, and had no
immediate plans to do so given the
weak iron-ore prices, among other
factors. The spot price declined
below US$90 per tonne that month
— a 30% drop from a US$131-pertonne average during the 2013 operating season.
Given the costs to extract the remaining resources at the James
mine and other stage-one deposits
were high, LIM plans to rein in costs
and finish developing its Houston
project.
The problem remains financing.
LIM ended March with negative
$8.7 million in working capital. The
deficit grew to $13 million by the
end of June, where it reported a net
loss of $4 million, or 3¢ per share.
In its latest management’s discussion and analysis, LIM noted it
would need $42 million to finance
development at Houston and cover
its working capital deficit, and other
corporate costs.
Depending on financing, LIM
Rambler has big plans
RAMBLER METALS AND MINING
Material is loaded inside a storage structure at Rambler Metals and Mining’s Goodyear’s Cove copper concentrate
storage and shipping facility in Newfoundland.
RAMBLER, From Page 11
The first is a study on liberating
gold from historic tailings and the
second is an investigation of preconcentration methods, with the
goal of improving the economic
viability of the Lower Footwall
zone.
The northwestern coast of the
island of Newfoundland has a his-
The Primary Zinc Producer, with
operations in New Brunswick and Peru
CARIBOU MINE
HALFMILE MINE
STRATMAT DEPOSIT
SANTANDER
MINE
604-638-5623 | www.trevali.com | TSX:TV
expects to complete construction
of the Houston haulage road, site
preparation and mine pre-stripping in 2014, with initial production
targeted for April 2015.
Desjardins analyst Jackie Przybylowski cautions that this year’s construction season is halfway done,
giving LIM little time to meet its
production target at Houston.
The company is negotiating
terms of its major contracts, and
is on the hook to deliver 1.8 million tonnes this year under an
offtake agreement with RBRG
Trading. It is working to defer this
until 2015.
The miner notes that its only ongoing capital project is the Silver
Yards rail-siding expansion,
funded by Tata Steel. The project
will extend the rail line from Silver
Yards to TSMC’s Timmins Area
plant.
On the exploration front, LIM has
resumed drilling on its jointly held
Howse deposit, where it plans to
complete 3,500 metres.
LIM is trading at 8¢ per share,
with a $10.1-million market capitalization. It has a 52-week trading
range of 6¢ to 58¢.
tory and culture of gold, base metals and industrial minerals dating
back to the mid-1800s, and Rambler Metals says its strategic vision
is to become Atlantic Canada’s
leading mine operator and resource developer. The company
listed in London in 2005 and in
Toronto in 2007.
In addition to its Ming property,
Rambler has strategic investments
in the former producing Hammerdown gold mine, the Little Deer
project (holding the past-producing Little Deer and Whalesback
deposits, 30 km from Rambler’s
port facilities at Goodyear’s Cove),
and in the advanced Valentine
Lake gold project in central Newfoundland, 57 km south of the mining town of Buchans.
The Valentine Lake property,
which is 100%-owned by Marathon Gold (TSX: MOZ; US-OTC:
MGDPF), consists of two gold deposits: Leprechaun and Victory
Gold. The gold deposits form part
of a 23 km long gold-bearing mineralized corridor along the Valentine Lake thrust fault. On Aug. 5, Rambler closed the
third tranche of a private placement of common shares in Marathon Gold, bringing its ownership
to 2.7 million shares, or 3.98% of
the company.
Over the last year, Rambler’s
shares have traded within a range
of 36¢ to 62¢.
14-08-06 8:00 PM
THE NORTHERN MINER
AUGUST 11-17, 2014
15
Wellgreen Platinum grows PGM resource in Yukon
WELLGREEN PLATINUM
Drillers at Wellgreen Platinum’s namesake polymetallic project in the Yukon, 300 km northwest of Whitehorse.
VANCOUVER — It’s been a busy
couple of years for explorer Wellgreen Platinum (TSXV: WG; USOTC: WGPLF) as it develops its
wholly owned Wellgreen platinum
group metals (PGM) deposit in Yukon’s southwest corner. The company has been pushing to complete
an updated preliminary assessment (PEA) on the project, and has
just completed the first resource
update in over two years.
Wellgreen is a sizable PGM discovery that also hosts nickel, copper and cobalt mineralization. The
property has been explored as far
back as the 1950s, with a drill history that totals 231,000 metres. The
company’s updated resource incorporates historic core re-assaying and its own drilling conducted
since 2012, which adds up to nearly
40,000 metres.
Wellgreen consists of disseminated to semi-massive and massive
sulphide layers within the Quill
Creek ultramafic complex. The deposit is defined by 760 drill holes
that have tested 2.5 km of a system
that runs for 20 km. Wellgreen averages 100 to 200 metres thick at
surface in the Far West zone, expands to 500 metres thick in the
Central zone and nearly a kilometre wide in the Far East zone, where
the deposit remains open downdip
and along strike.
Wellgreen’s work has boosted
global resources at the project,
and a new model has increased
confidence in the company’s
ability to convert large-scale inferred resources into the indicated category.
Measured and indicated resources at Wellgreen total 330 million tonnes grading 0.24 gram
platinum per tonne, 0.24 gram palladium per tonne, 0.045 gram gold
per tonne, 0.26% nickel, 0.14% copper and 0.015% cobalt at a 0.57 gram
platinum equivalent cut-off grade.
Meanwhile, inferred resources
have nearly doubled to 846 million
tonnes grading 0.23 gram platinum,
0.23 gram palladium, 0.047 gram
gold, 0.24% nickel, 0.14% copper
and 0.015% cobalt.
The company also defined in-pit
resources at higher grades based on
a 1.9-gram platinum equivalent cutoff that totals 72 million measured
and indicated tonnes grading 0.455
gram platinum, 0.37 gram palladium, 0.09 gram gold, 0.33% nickel,
0.29% copper and 0.019% cobalt.
The higher-grade material also includes 174 million inferred tonnes
averaging 0.46 gram platinum, 0.35
gram palladium, 0.098 gram gold,
0.31% nickel, 0.3% copper and
0.018% cobalt.
In comparison, Wellgreen’s 2012
PEA was based on in-pit resources
of 14 million indicated tonnes
grading 0.99 gram platinum, 0.73
gram palladium, 0.5 gram gold,
0.68% nickel, 0.62% copper and
0.05% cobalt. Inferred resources
tacked on 446 million tonnes of 0.38
gram platinum, 0.33 gram palladium, 0.6% nickel, 0.25% copper
and 0.02% cobalt.
President and CEO Greg Johnson
noted in the release that the updated
resource makes Wellgreen one of
the “largest undeveloped PGM re-
sources,” with over 5.5 million oz.
platinum, palladium and gold (3E)
in the measured and indicated category, and 14 million oz. 3E in the
inferred category.
“The new [estimate] is an important component for completion of the updated PEA, and will
be followed by the conclusion of
the metallurgical program and engineering, which we expect to
complete over the next two
months,” Johnson added. “With
the successful closing of our equity
financing in June, the metallurgical and engineering programs are
progressing well.”
In late June the company closed
a $6.9-million bought-deal financing led by Dundee Securities,
Edgecrest Capital, Haywood Securities and Mackie Research,
wherein it placed 11 million units at
a cost of 65¢ per unit. Each unit
consists of a share and a warrant
exercisable at 90¢ within two years.
The financing included a full exercise of an over-allotment option
totalling 1.4 million units.
Also in June Wellgreen made
strides in addressing one of the
project’s biggest question marks:
power supply. Since the deposit
sits in an isolated area of the Yukon
300 km west of Whitehorse, the
company has been hoping to lock
down a supply of liquefied natural
gas (LNG).
In early June Wellgreen signed a
pair of agreements that could offer
a solution: a memorandum of understanding with Northern Lights
Energy for supplying LNG from
Alaska, and one with General Electric Canada for supplying LNG
power-generation equipment and
services.
Wellgreen shares trade within a
52-week range of 42¢ and $1.10, and
jumped 7% on 413,000 shares traded
after the resource update, en route
to 67¢ close at press time.
The company has a total of 94
million shares outstanding for
a $63-million market capitalization.
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Giants of mining share wisdom at Sprott symposium
SPROTT, From Page 1
French Guiana. Before Columbus,
Wallace spent several decades exploring for, expanding, permitting,
building and operating mines in
Nevada as a principal of privately
held Cordex Exploration. Cordex
is credited with no fewer than nine
gold discoveries in Nevada, several
under Wallace’s direct management, including the 5 million oz.
Marigold mine and the 12 million
oz. Stonehouse–Lone Tree and
Daisy mines.
discovering a raft of major deposits
and developing several mines.
Each of these exploration and
mining legends answered the questions posed to the panel. Some of the
highlights of that session are below.
What are the attributes that make
for a great geologist?
Robert Quartermain, Ronald
Netolitzky and Andy Wallace:
Perseverance.
Ronald Parratt: Multiple ideas.
Ross Beaty: Tremendous luck.
‘I’m agnostic as to where to look.
Everywhere is awful. It’s a tough business
and you just have to roll with the punches.’
— Ross Beaty, mining entrepreneur
Mark O’Dea grew Fronteer Gold
from a $2-million start-up into a
high profile, development-focused
company that was taken out by
Newmont Mining (TSX: NMC;
NYSE: NEM) in 2011 for $2.3 billion.
As founder of Oxygen Capital,
O’Dea now plays a leadership role
in all Oxygen companies, a list that
includes Pilot Gold (TSX: PLG;
US-OTC: PLGTF), True Gold
Mining (US-OTC: RVREF) and
Pure Gold Mining (TSXV: PGM;
US-OTC: LRTNF).
David Lowell is one of great exploration geologists of the past
century. In his 70-plus year career
he discovered 17 orebodies, including the deposit that underpins
the largest copper mine in the
world: Escondida.
Doug Casey is the chairman of
Casey Research, which publishes
several newsletters on resource
investing and manages several resource-oriented funds. Casey is
also the bestselling author of two
books about investing.
Ronald Thiessen is president
and CEO of Hunter Dickinson, a
group he has worked with since
1996 and led since 2000. Under his
leadership the group has closed
two dozen property deals and
raised well in excess of $500 million
in financings, and gets credit for
Mark O’Dea: Luck and perseverance.
David Lowell: Hard work, which
is another way of saying good luck.
Ronald Thiessen: Experience on
lots of properties, and patience.
What makes for a great mine
finder?
RT: Being the seventh guy on a
property. We have a saying in our
office: “We want to be the seventh
guy on a title, because the first six
do all the work.”
DL: I think a mine finder is somebody who always keeps in mind that
ore is rock that can be mined at a
profit, and so you need to use economics in your geologic position.
MO: A willingness to fail quickly
and move onto the next prospect.
RB: The harder you work, the luckier you get. You can’t win a lottery
unless you buy a ticket, and the
more you buy, the more likely you
are to win. The other thing is to really understand that what makes a
mine is sizes. For so many years in
my exploration career I was focused on size, because big deposits
make big shareholder gains. If you
go for small targets, you have small
returns — but there’s about the
same amount of risk in a small project as in a large one.
RN: The most important thing is to
take advantage of all the work that’s
been done ahead of you and look at
it seriously. You’re mining other
people’s rejects, but that’s where
you find lots of interesting things.
How much of the discovery process is science and how much is
serendipity?
RT: I think there’s a tremendous
amount of science. The serendipity
is more about the economics of the
time — what wasn’t a mine yesterday might be a mine tomorrow. It
takes a lot of science to evaluate
projects and select where you are
going to put your resource dollars.
DL: I have done some scientific
things, but I don’t concern myself
to be a scientist. I think my success
is based more on being practical
and being a good prospector, and
imagining what the other dimensions of the deposit are from seeing
a few scraggly outcrop patches. I
think one thing that is overused
now are high-tech presages like
geophysics and digital mapping,
and so forth. I think that boot
leather and drill rigs are the real
effective tools.
MO: There are few real discoveries
made in a year, or in a decade. We’ve
made a couple but the bulk of our
success as a group has been through
rediscovery — you get into a datarich environment where a property
has been explored several times that
really lends itself to science, because you attack it by standing on
the shoulders of giants.
AW: I often wonder why I drilled
a hole in one direction and not the
other direction, and often I don’t
have a good answer. I find it amazing that I have had 42 years of exploration and have found other
people to fund my work. If you
have good targets and have the
money and the time, I believe
you’re going to be successful and
I consider myself lucky to have
been able to do that.
RB: It’s not terribly difficult to
learn the science of discovery, but
serendipity is important too. You
have to be lucky. That doesn’t always mean drill discoveries — it
can also mean getting your timing
right. I bought my deposits at the
bottom of the cycle. Is that science?
Sort of. Is it serendipity? A bit. The
other thing that was not terribly
clever science is that large copper
deposits tend to cluster, so if you
have some mineralization you tend
to find more if you keep drilling.
That’s about as clever as it was. We
acquired large projects in good jurisdictions and hoped the copper
price would go up, and we drilled
nearby. So it was serendipity and
science with respect to success in
exploration and timing, but it was
science in knowing that if you find
one deposit you might find more of
the same, and knowing that if you
buy these things at the bottom of
the market you’re setting yourself
up for success.
RQ: Get out there, persevere and
create your own luck.
Is it true that we’re going to have to
move towards more bulk-tonnage
projects because the low-hanging
fruit has been picked?
RN: Whatever works, works.
RP: What we’re looking for are ore
deposits that can be mined. If it happens to be 0.7 gram gold per tonne
and it makes good money, that’s
great. If it happens to be 5 grams
gold, that’s also great. In the end
it’s economics.
RB: I think in the future there will
be lots of high-grade and low-grade
deposits discovered, and the difference will be what makes money.
found before I have no idea, but
they still exist.
DL: I think that we’ve all seen the
price of copper and gold steadily go
up and I think that in the future they
will have to go higher. There’s going
to be some kind of serious crisis
when we run for the first time in
the history of the world into an absolute lack of a given important
commodity. I think all of us that are
trying to find mines think about the
cycles, but we need to keep our eyes
open to the fact that these cycles
are going to be more pronounced.
Do you find yourself looking to
more politically risky jurisdictions?
MO: People generally associate risk
with geology, but the bulk of the
risks today are not subterranean,
they’re social and political. A lot of
the sense of security that people
have around projects in first-world
countries because of security of tenure — there’s not actually less risk
because of the challenge of getting
your mine permitted.
RB: I’m agnostic as to where to look.
Everywhere is awful. It’s a tough
business and you just have to roll
with the punches, but that also
means metal prices will stay higher
longer and that’s good for all of us.
Which company should investors be
looking at for near-term gains right
now?
‘I don’t think we have found all the easy
low-hanging fruit.’
— Andy Wallace, president, Columbus Gold
AW: You have to make the best of
what you’ve got. We went through
a period in our company when we
decided we were only going to look
for high grade and we kept finding
low grade, so we sold them off.
Many are now in production, so I
think that was a mistake. I also don’t
think we have found all the easy
low-hanging fruit. I’m working on
a discovery in Nevada with ore
grade outcrops at surface 20 miles
from Tonopah. Why it wasn’t
RQ: Pretium Resources.
RN: Lincoln Mining (TSXV:
LMG).
RP: Renaissance Gold.
RB: Odin Mining and Exploration (TSXV: ODN; US-OTC:
ODMEF).
MO: Pilot Gold.
DL: Lowell Copper.
DC: I don’t know what to buy, but
this is the time to buy.
RT: Curis Resources (TSX: CUV;
US-OTC: PCCRF).
14-08-06 8:00 PM
Troy fast tracks Karouni
with open-pit plan
VANCOUVER — Gold producer
Troy Resources (TSX: TRY; USOTC: TRYRF) acquired the
Karouni gold project located 180
km southwest of Georgetown, Guyana, US$200 million just over a year
ago, and now anticipates having a
mine in operation even earlier than
first anticipated. A new prefeasibility study (PFS) on a open-pit operation show Karouni could realistically be in production within the
next year.
The company had envisioned a
hybrid open-pit, underground
mine that would have produced
gold by the second half of 2015, but
permitting happened so quickly
that construction started in June.
Since more geological modelling
is needed on the underground components of Karouni’s Smarts and
Hicks deposits, Troy is opting to
proceed via a two-stage build with
its initial development focusing on
open-pit resources. The end result
is a mine that will operate at a
higher throughput, while processing around half of the mineralized
material compared to previous
models.
Under a preliminary economic
assessment released in January the
company suggested it would process 5.2 million tonnes of material
grading 4.13 grams gold per tonne,
with 42% originating from the
Smarts pit, 25% coming from the
Hicks pit and 33% from the Smarts
underground. At the time around
55% of that material was qualified
as inferred resources, while the remaining 45% sat in the indicated
category.
Infill drilling over the interim
has allowed Troy to bump all of its
open-pit material into the measured and indicated category.
Karouni could now process 2.6
million tonnes at 3.84 grams gold,
with 82% and 18% of those tonnes
in the measured and indicated categories.
Initial capital is roughly equal at
$85 million, with the operation expected to produce 101,000 oz. gold
annually over a three-year mine life.
Projected cash costs, however, have
dropped from US$805 per oz. to
US$602 per oz. Anticipated
throughput has been bumped from
750,000 tonnes per year to 1 million
tonnes per year, while gold recoveries have risen from 92% to 94%, with
cyanide consumption qualified as
“relatively low.”
The shift has resulted in a lower
payback period and higher internal
rate of return (IRR). At US$1,250 per
oz. gold Karouni’s new mine plan
carries a 50.2% IRR and a 1.2-year
payback period, along with a US$72million net present value at a 6%
discount rate. The carbon-in-leach
plant and gravity mill will also reportedly allow for “easy low-cost”
expansion at a later date.
In terms of Smarts Deep —
which was assumed in Karouni’s
underground mine plan — Troy
has determined that the deposit
has “a significantly more complex
geological environment than the
upper parts of the system.” Drilling
has revealed that the deeper mineralization is hosted in high-grade
pods that are structurally controlled by a series of sub-vertical
shear zones.
Drill results released in March —
including 8 metres grading 17.8
grams gold in hole 118 and 19 metres
of 5.2 grams gold in hole 128 — indicate that high-grade mineralization exists at depth, though is not
yet adequately understood.
“There are enough drill ready
targets within trucking distance of
the new plant site to keep the drills
busy over the next few years and
we are confident we will continue
to add to the resource ounces,”
noted CEO Paul Benson in the release. “The infill drilling of the
deeper Smarts zone, which had
been assumed to be mined from
underground, has proven the mineralization is structurally more
complex. Because of this we have
reduced the amount of material
classified as inferred resources
until further infill drilling has been
completed.”
Troy mobilized two drill rigs at
Karouni for the second half of the
year to complete infill programs at
Smarts Deep, as well as restart exploration on its extended concessions. The company expects the PFS
on the underground part of the development will be complete around
year-end.
Troy shares have traded between 68¢ and $1.93 over the past
year, and dropped 22%, or 26¢ following the release of Karouni’s
updated PFS, en route to a 93¢ close
at press time.
The company has 195 million
shares outstanding for a $232-million market capitalization, and
locked down a US$93-million revolving credit facility with Investec Bank in late April to fund
Karouni’s development.
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Coeur revamps
Palmarejo mine plan
COEUR MINING
Coeur Mining’s Palmarejo gold–silver mine, 420 km southwest of the city of
Chihuahua, Mexico.
VANCOUVER — It’s been almost
six years since U.S. producer
Coeur Mining (TSX: CDM; NSYE:
CDE) last released a mine plan for
its wholly owned Palmarejo gold–
silver operation, 420 km southwest
of Chihuahua, Mexico, and a lot has
changed in that time.
Palmarejo was an open-pit mine
when it was commissioned in 2009,
but Coeur is now aiming for what
it describes as a “lower-tonnage,
higher-grade, higher-margin underground operation” that prioritizes “cash flow over production
ounces.”
Expected capital expenditures
over the mine’s life include US$4
million each year for capitalized
drilling, with US$24 million of the
total to be spent on upgrading the
inferred mineral resources at Guadalupe. Spending for underground
mine development is expected to
ramp up to US$10 million per year
in 2016 and 2017, when the inferred
material is expected to come into
production.
Earlier this year Coeur commissioned a Merrill–Crowe facility to improve recovery rates.
Blending of a range of ore types
According to the new plan Palmarejo
would churn out 28.2 million oz. silver and
553,000 oz. gold by 2021.
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Dwindling open-pit reserves —
which the company now expects to
provide mill feed through mid-2015
— and volatile precious-metal
prices drove the decision to focus
on underground ounces at the
nearby Guadalupe deposit, which
could become Palmarejo’s main ore
source by 2016.
The end result is a mine schedule
that has a shorter life at lower
throughput levels. As such Coeur is
focusing on a “subset of reserves
based on economic prices” of US$20
per oz. silver and US$1,300 per oz.
gold.
The higher-grade material will
originate from 42% of Guadalupe’s
underground proven and probable
reserves, 42% of Guadalupe’s inferred underground resources,
57% from Palmarajo’s proven and
probable underground reserves,
and 65% from Palmarejo’s proven
and probable open-pit reserves.
The updated plan schedules Palmarejo’s production through 2021,
and would churn out 28.2 million
oz. silver and 553,000 oz. gold over
that period, with recoveries
pegged at 83% silver and 87% gold.
Coeur estimates the plan would
cost US$157 million and generate
operating cash flows of US$587
million over the mine’s life. Net
cash flows are estimated at
US$239 million, while the net
present value at a 10% discount
rate totals US$134 million.
has reportedly boosted both silver and gold. Recovery rates tend
to be higher for Palmarejo’s underground ore due to the lower
oxide content underground compared to near-surface material.
As Coeur feeds more underground sulphide ore to the mill,
recovery rates are expected to
further improve.
In a release president and
CEO Mitchell Krebs says that
the plan “demonstrates the significance of Guadalupe to Palmarejo’s future, which is why
our recent decision to place
Guadalupe into production next
year was so important . . . in addition, the modified economics
of the recently announced new
gold-stream agreement with
Franco-Nevada will help boost
Palmarejo’s future cash-flow
profile.”
Not surprisingly, the updated
mine plan estimates total production of 6.83 million oz. silver this
year, but a drop in production to
4.5 million oz. for 2015. Palmarejo’s
gold output for this year is pegged
at 86,000 oz., and will drop to
72,000 oz. gold in 2015.
Coeur has traded within a 52week range of $6.62 and $16.95,
and closed down 4.2% at press
time at $8.22 per share. The company has 103.5 million shares outstanding for an $851-million market
capitalization.
14-08-06 8:00 PM
Atac sees modest gold mine at Tiger in Yukon
Gold explorer Atac Resources
(TSXV: ATC) has wrapped up
the first economic study of its
Rackla gold project in the Yukon
— a positive preliminary economic
assessment of the oxide portion of
the project’s Tiger zone.
Such a mine at Tiger would be
modest, with a mine life of four
years producing a total of 221,560
oz. gold, or 55,400 oz. a year,
However, using a gold price of
US$1,250 per oz., the study shows
that the small operation could deliver a pre-tax net present value
(NPV) of $33.7 million after taxes,
and an internal rate of return
(IRR) of 21.5% after taxes. The figures are calculated using a 5%
discount rate.
Pre-production capital costs are
estimated at $92 million, while allin sustaining production costs are
projected at $626 per oz. gold, excluding general and administrative
costs.
At US$1,100 per oz. gold, Tiger’s
after-tax NPV would drop by more
than half to $12.6 million and its IRR
to 11.2%. However, at US$1,500
gold, the project’s post-tax NPV
would rise to $68 million and the
IRR to 37.2%.
Tiger is a limestone-hosted
replacement-style gold deposit,
and was Atac’s first discovery at
Rackla in 2007.
Since then, the company has
discovered larger-scale, Carlintype gold deposits 100 km east of
Tiger, along the 50 km long Nadaleen trend at Osiris, Conrad and other zones.
The preliminary economic assessment outlines a conventional
open-pit mine with single-stage,
low-intensity crushing followed by
size classification with a scrubber
ATAC RESOURCES
An aerial view of the Tiger gold deposit at Atac Resources’ Rackla gold project, 55 km northeast of Keno City in
central Yukon.
that would separate fine material
from coarse material.
The operation would combine
heap-leach and carbon-in-leach
(CIL) recovery, with 42% of the
material sent to the heap leach
and the rest — finer material representing 58% of the total amount
— sent to the CIL plant.
Overall gold recoveries would average 89.8% (87.8% from heap leaching and 91% from CIL treatment).
Although it would take one year
of pre-stripping to get to the ore
— the life-of-mine strip ratio is estimated at 5.6 to 1 — the highly
weathered, sandy mineralized material would not require blasting,
and could be mined using a hydraulic excavator.
Mining and stockpiling would
take place year-round, but the plant
would operate from May to September (158 days per year), processing 3,300 tonnes per day.
Over the mine’s life, the plant
would treat 2 million tonnes of
oxide material grading 3.72 grams
gold per tonne.
In a press release, Atac CEO Graham Downs notes that “although
we remain focused on the Carlintype gold targets 100 km to the
east, we are pleased with the results of the comprehensive Tiger
deposit PEA. It gives the company
a clear understanding of the potential viability and value of our
first Rackla gold project discovery, and highlights the advantages
of a rare high-grade, at-surface,
oxide gold deposit that is located
in one of the most favourable mining jurisdictions in the world.”
Downs adds that the economics
of the project could be improved
through infill drilling at Tiger and
more exploration drilling at six untested oxide targets nearby.
David Sadowski, a mining analyst at Raymond James, wrote
in a client note that although the
outlined operation would be
small, its economics are robust.
The study, he says, “paves the
way toward medium-term production, which should further
underline the viability of the
district.”
Sadowski has a $2 target price
for Atac and rates it as “outperform”. He recommends that investors add to their positions
ahead of exploration results from
the Nadaleen trend before the
fourth quarter.
Drill results from the Sunrise
zone and trenching and drilling
results from the Anubis zone at
Nadaleen are expected soon.
Sadowski notes that the PEA
considers only part of a resource
outlined in November 2011. The
resource itself is likely understated
due to poor recovery in shallow
sections of the deposit, he argues,
and follow-up auger drilling is expected to add ounces.
Using a cut-off grade of 1.6 grams
gold per tonne, the 2011 resource
estimate outlined indicated oxide
resources total 2.5 million tonnes
grading 4.25 grams gold per tonne
for 337,500 oz. Inferred resources
add 180,000 tonnes at 3 grams gold
for 17,400 oz.
The deposit also contains a
smaller amount of gold-bearing sulphide material.
Rackla is 55 km northeast of
Keno City in the Yukon. It is currently a fly-in project, but the
study anticipates access via a proposed 51.6 km winter road that
would use 24.6 km of the permitted
Wind River trail.
Atac shares saw a mild lift on
the PEA news, rising 5¢, or 4.3%,
to $1.22 on low volume of 120,000.
It has traded in a range of 52¢ to
$1.73 in the past 52 weeks, and has
115.2 million shares outstanding.
Kennady North diamond project
exceeds expectations
With positive results rolling in
from the mid-year exploration program at its Kennady North project
in the Northwest Territories, Kennady Diamonds (TSXV: KDI; USOTC: KDIAF) is rethinking its expectations for the project.
Kennady released yet another
set of high-grade drill results from
the project in early August, just two
weeks after drilling its longest intercept of kimberlite to date.
At the Faraday kimberlite, a 933
kg sample returned a total of 4,628
diamonds weighing 4.76 carats for
a grade of 5.1 carats per tonne.
If only the commercial-sized
diamonds (larger than 0.85 mm)
recovered from the sample are considered — 97 diamonds weighing a
total of 3.62 carats — the sample
grade shrinks to a still impressive
3.88 carats per tonne.
The three largest diamonds
weighed 0.4 carat, 0.25 carat and
0.22 carat. Almost all of the commercial-sized diamonds are described as transparent and either
white/colourless or off-white.
Meanwhile, drilling at the Kelvin
kimberlite hit a 183-metre interval
of kimberlite in July — the longest
yet at the project.
The interval, which was drilled
north of Kelvin and outside of the
geological model for the kimberlite, could expand the tonnage
Kennady is expecting from the
project, where a mini-bulk sample
is under way.
In a release, Kennady CEO Patrick Evans said the company is
rethinking its geological model at
the project, 280 km northeast of
Yellowknife. The company had
expected Kelvin and Faraday to
hold 5 million to 8 million tonnes
of kimberlite.
“Delineation drilling to the
north of the Kelvin kimberlite is
exceeding our expectations,”
Evans said in a release. “Based on
the results from the first three
Kelvin delineation drill holes, we
are currently reviewing our tonnage estimate for the Kelvin–
Faraday kimberlite corridor,
which we expect to increase beyond the current 5- to 8-milliontonne estimate.”
So far, the current program has
returned intervals of between 72.6
metres and 183 metres (not true
thicknesses) of kimberlite at Kelvin. The 183-metre interval started
at 151 metres depth and ended at
431 metres.
Kelvin and Faraday are both
kimberlite dykes of variable
width, with Kelvin ranging from
a couple of metres to 20 metres wide over a 1 km strike length.
The kimberlites are 3 km apart and
9 km northeast of the Gahcho Kué
mine being built by De Beers and
Mountain Province Diamonds
(TSX: MPV; NYSE-MKT: MDM).
Based on encouraging results,
Kennady has doubled its midyear drill program to 10,000 metres and added a third drill rig.
In addition to collecting drill
core for the mini-bulk sample,
the junior is conducting delineation drilling at Kelvin and
Faraday, and exploration drilling at the MZ and Doyle kimberlites, and at four new exploration targets.
Results from the mini-bulk
A driller at Kennady Diamonds’ Kennady North diamond project in the Northwest Territories.
sample at Kelvin are expected
early in the fourth quarter. So far,
7 tonnes of kimberlite have been
collected.
The company is hoping to outline
a resource of at least 10 million carats — 5 million tonnes grading 2
carats per tonne at a minimum —
before year-end.
Last year’s 8,500-metre drill program, however, hinted at much
higher grades than 2 carats per
tonne. A 4.3-tonne sample from
Kelvin returned a grade of 5.38 carats per tonne, while a 116 kg sample
from Faraday returned 11.23 carats
per tonne.
Shares in Kennady Diamonds
traded recently at $6.89. The stock
has traded in a 52-week range of
$1.76 to $8.74, with 22.9 million
shares outstanding.
KENNADY DIAMONDS
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14-08-06 8:00 PM
Teck boosts
stake in partner
AQM Copper
After loading up on shares of AQM
Copper (TSXV: AQM; US-OTC:
APQUF) in July, Teck Resources
(TSX: TCK.B; NYSE: TCK) now
owns just over 30% of the junior
— its partner at the Zafranal copper–gold project in Peru.
Teck made a deal to buy 14.6 million shares of AQM for $1.5 million,
or 10.37¢ per share, in July. After
the transaction, Teck will hold 42.3
million AQM shares, or 30.35% of
the company. Teck said the purchase was made for investment
purposes.
The miner already held 19.9% of
AQM shares after subscribing for
22.5 million shares in a private placement priced at 11¢ last November.
On news of Teck’s latest investment, shares in AQM rose by 2¢, or
22% to 11¢, on trading volume of
nearly 400,000. The junior’s market capitalization is only $15 million.
The prefeasibility study will
build on a preliminary economic
assessment (PEA) completed in
September 2013. The PEA outlined
a 44,000-tonne-per-day, open-pit
operation with initial capital costs
of $1.1 billion.
The project looks economic,
with the PEA projecting an aftertax net present value of US$616
million at an 8% discount rate, and
an 18.2% internal rate of return
using metal prices of US$3 per lb.
copper and US$1,274 per oz. gold.
Zafranal’s mine life was pegged
at 25 years, including two years of
prestripping and two years of stockpiled feed processing. The operation would include a conventional
mill and concentrator that would
produce 54,556 tonnes of copper in
concentrate per year, with another
heap-leach and electrowinning facility expected to produce 5,949
A $30-million prefeasibility study on the
Zafranal copper–gold project should take
18 months to complete.
Just two weeks earlier, the partners approved a US$30-million
prefeasibility study on Zafranal that
should take 18 months to complete.
AQM is the operator at Zafranal,
but Teck has the right to take over
once a production decision is
made. Both parties held 50% of the
project until last year.
Last August, AQM sold a 40%
interest in its Peruvian subsidiary,
Minera AQM Copper Peru, which
holds its interest in Zafranal. Mitsubishi Minerals paid US$37.7 million for the stake, which translates
to a 20% ownership in Zafranal. The
deal left AQM with 30% of Zafranal
and more than enough cash to fund
its share of the prefeasibility study
costs. (The junior received a
US$22.6-million investment right
away, plus a commitment for US$15
million more funding).
Asanko approves gold mine
construction in Ghana
tonnes of copper cathode a year
from oxide and secondary sulphide
copper material.
The September PEA was an updated and scaled-back version of
an earlier study that looked at an
80,000-tonne-per-day mine with
an initial capex of $1.5 billion.
At a 0.2% copper cut-off grade,
the Zafranal Main and Victoria
zones at the project hold 621 million
measured and indicated tonnes
grading 0.37% copper and 0.08
gram gold per tonne.
Zafranal was discovered by Teck
in 2003, with AQM winning a bidding process to earn in on the project in 2009. The project is located
90 km northwest of the city of
Arequipa.
AQM has 139.2 million shares
outstanding and has traded in a 52week range of 5¢ to 15.5¢.
Asanko Gold’s main office block at the Asanko gold project in Ghana.
Asanko Gold’s directors (TSX:
AKG; NYSE: AKG) have given
management the green light to
build the first phase of the Asanko
gold mine in Ghana for US$295 million, and the company expects to
break ground within a month.
The company is fully financed
with US$231 million in cash and a
US$150-million project debt facility, and expects to pour first gold
in the first quarter of 2016. The
company believes it can reach production of 200,000 oz. per year by
the second quarter of 2016.
The first phase involves developing the Obotan project, which it
acquired from PMI Gold Corp. earlier this year. The second phase
involves bringing the adjacent Esaase gold deposit into production.
Asanko says the first phase of the
open-pit mine would produce 2.25
million oz. gold over an 11.5-year
mine life. According to PMI Gold’s
definitive feasibility study in September 2012, cash-operating costs
&
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are estimated to come in at US$626
per oz. (US$722 per oz., including
royalty and refining costs). Feed
for the 3-million-tonne-per-year
carbon-in-leach processing circuit
will come primarily from the
Nkran pit, with satellite pits at
Adubiaso, Abore and Asuadai
being mined later in the mine life.
make impressive progress advancing Obotan towards production,”
and that Asanko “is now a fully
permitted, fully financed developer, advancing construction of a
quality project in an established
mining jurisdiction.” The analyst adds that the first phase of the
project “offers appeal as a rela-
The first phase involves developing the
Obotan project. Asanko expects to pour
first gold there in early 2016.
Phase two will see the expansion
to a 5-million-tonne-per-year facility
that is designed to handle material
from the Esaase deposit, 25 km from
the plant. A scoping study evaluating
phase two is under way and should
be completed in the fourth quarter.
Andrew Breichmanas of BMO
Capital Markets notes Asanko’s
management team “continues to
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ASANKO GOLD
tively simple project at a brownfield site, which is expected to
deliver an IRR of nearly 30% at
current gold prices.”
Asanko expects to put out an updated resource estimate in the fourth
quarter, but for now, the combined
measured and indicated resource
for the Obotan pits and the Esaase
deposit stand at 139.4 million tonnes
grading 1.68 grams gold per tonne for
7.52 million contained oz. gold and
inferred resources, and 55.5 million
tonnes grading 1.63 grams gold for
2.91 million contained oz. gold.
In his latest estimate for the combination of the two projects, mining analyst Geordie Mark of Haywood Securities estimates that “an
expanded single processing plant
could have the potential to deliver
fourteen years of production from
an open-pit mining operation that
feeds an up to 8-million-tonne-perannum processing plant . . . to deliver an average annual output of
320,000 oz. gold.”
He forecasts a US$580-million
total development capex and models average annual cash costs of
US$729 per oz.
Mark also points out that Ghana
has “an extensive mining heritage”
and ranks within the top-10 goldproducing countries. Other mining
companies in the country include
Newmont Mining (TSX: NMC;
NYSE: NEM), Kinross Gold (TSX:
K; NYSE: KGC), AngloGold
Ashanti (NYSE: AU), Perseus
Mining (TSX: PRU; ASX: PRU),
Endeavour Mining (TSX: EDV;
US-OTC: EDVMF) and Golden
Star Resources (TSX: GSC; NYSEMKT: GSS).
At press time Asanko’s shares
traded at $2.65, within a 52-week
range of $1.67 to $3.35.
14-08-06 8:00 PM

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