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A newly listed
company focused
on exploration
in Peru, and a
member of the
Grosso Group
Worldwide
Airborne Geophysical Surveys
AirMt Gravity Radiometrics
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Goldcorp
TSX-V:GLL www.goldenalliancecorp.com
Grupo Mexico
Invests $15.6M
in Evolving Gold
3
$3.50 • AUGUST 2 - 8, 2010 • VOL. 96, NO. 24 • SINCE 1915
North Country rises 45%
on Nunavut gold hits
To merge Asarco and
Southern Copper
NORTH COUNTRY GOLD
Vancouver — When the first results from the first drill program of
a newly-listed company include
hits like 42 metres of 5.88 grams
gold per tonne, the market usually
responds. And that is exactly what
happened to North Country Gold
(ncg-v), which shot up 45% in a day
on news of its results at the Three
Bluffs gold project in Nunavut.
The Three Bluffs project is
roughly 300 km northeast of Baker
Lake, in the centre of North Country’s 2,256-sq.-km land package.
The northeast-striking property
covers a large segment of the
Committee Bay greenstone belt,
which North Country says is underexplored and home to at least
five drill-ready gold targets.
Three Bluffs is the most advanced target within North Coun-
try’s property and consists of a
near-surface, high-grade hinge
structure that is already home to 2.7
million indicated tonnes grading
5.85 grams gold as well as 1.3 million
inferred tonnes averaging 5.98
grams gold. In a recent spring drill
program, shortened by unusually
warm weather, North Country extended the known mineralization
See NORTH COUNTRY, Page 2
5
hole 53 returned 114 metres of 0.42%
copper from 100 metres to the west.
These results confirm the presence
of higher-grade enriched copper
mineralization in the eastern half
of the zone.
Hole 61, drilled 250 metres farther east and slightly south, intercepted 78 metres grading 0.58%
copper and 0.08 gram gold, leaving
the east end of the zone open to
the south.
The other 10 new holes are from
the west end of the zone, which
keeps expanding. Hole 54 cut 135.4
metres grading 0.63% copper and
Diamonds have been kind to
Kinross Gold (k-t, kgc-n).
Last year Kinross paid about
US$104.4 million for a 22.5% interest in Harry Winston Diamond’s (hw-t, hwd-n) 40% stake
in the Diavik joint venture
(Kinross’s 9% indirect stake in the
Diavik mine). Now it plans to sell
it to Harry Winston for US$220
million, making a profit of about
US$115.6 million.
Under the proposed deal, Harry
Winston will pay Kinross US$50
million in cash, roughly 7.1 million
Harry Winston shares valued at
about US$100 million, and a 12month US$70-million note. The
note will bear an annual interest
rate of 5%. The boards of both
companies have yet to approve the
agreement.
Kinross is also arranging to sell
its 19.9% direct stake in Harry
Winston to a group of financial institutions through a block trade.
Kinross acquired its stake in
March 2009, buying 15.2 million
shares for US$3 apiece at a cost of
about US$45.6 million. The transaction hands Kinross a profit of
roughly US$150 million.
Back of the envelope calculations suggest that after investing a
total of US$150 million last year in
Harry Winston and Diavik, Kinross
walks away with a gain this year of
about US$268 million.
“Our initial investment has pro-
0.05 gram gold from 46 metres
downhole; nearby, hole 57 returned
65 metres of 0.72% copper and 0.03
gram gold. Farther west, hole 59 hit
three mineralized intercepts: 48.5
metres of 0.42% copper, 24 metres
of 0.54% copper and 14 metres of
0.31% copper. And hole 55 returned
45 metres grading 0.81% copper.
AQM will continue to grid-test
the Main zone while searching for
strike extensions to the east and
west. The company also plans to
drill a few deep holes to probe the
nature of the mineralized zone at
See AQM, Page 2
Sage Gold explores Nevada, Timmins
BY TRISH SAYWELL
Three years ago Sage Gold
(sgx-v) had a market capitalization
of about $40 million. Today the
figure stands at about $6 million
but the junior’s president and chief
executive Nigel Lees believes
that’s about to change with the help
of two option agreements the company has inked this year on properties in Timmins, Ont., and Nevada.
In March, Sage Gold signed an
option agreement with Gryphon
Gold (ggn-t) to earn a 50% interest in Borealis, a fully permitted
gold project and past-producing
open-pit mining operation, about a
three-hour drive south of Reno in
the Walker Lane gold belt of western Nevada.
If all goes according to plan,
Sage Gold will have a feasibility
study completed on Borealis before
the end of this year, a bankable
feasibility completed early next
year and be in production by the
end of 2011.
“Getting permitting in Nevada
isn’t easy and we are fully permitted,” Lees told a group of investment advisors and investors at a
recent luncheon at the Albany Club
in Toronto.
Sage Gold’s strategy is straightforward. “We thought it might be
tough to raise money for a small
exploration company so we wanted
to acquire near-term production
(two years), compliant resources, in
Adds West Virginia
coal mines to stable
11
Kinross Gold sells
Diavik stake
AQM, Teck re-jig Zafranal deal
Vancouver — The long
intercepts carrying at
copper hits coming out
least 0.6% copper for 100
of the Zafranal project in
metres or more. Hole 39,
southern Peru are startcollared in the middle of
ing to define a sizable
the eastern half of the
zone of mineralization
Main zone, returned 188
and the success has
metres grading 0.73%
prompted its owners
copper and 0.13 gram
AQM Copper (aqm-v)
gold per tonne from 104
and Teck Resources
metres downhole, folBY GWEN
PRESTON
(tck.b-t, tck-n) to relowed by 92 metres of
negotiate their joint-ven0.29% copper and 0.06
ture agreement and form a com- gram gold. Two nearby holes previpany dedicated to the project.
ously returned similar intercepts:
The latest results from Zafranal hole 25 cut 132 metres of 0.42% copadd two new holes to the list of per from 80 metres to the north and
30 Aug – 3 Sept in Belo Horizonte
Email: [email protected]
Cliffs
BY TRISH SAYWELL
An aerial view of the camp at North Country Gold’s Three Bluffs gold project in Nunavut, 300 km northeast of
Baker Lake.
Professional Development courses
Resource Estimation
good jurisdictions,” Lees added.
In a 2009 prefeasibility study,
Gryphon Gold reported that the
proposed Borealis mine would produce about 247,000 oz. gold and
741,000 oz. silver over five primary
production years, followed by one
year of additional leaching. (The
prefeasibility study did not contemplate mining sulphide gold
mineralization on the property
underlying the oxide gold.)
See SAGE, Page 2
vided us with a great return and
now is a good time to realize gains
from that initial investment for our
shareholders,” Steve Mitchell,
Kinross’s vice-president of corporate communications, told The
Northern Miner.
“The share price has had a very
nice ride since we first made our
investment at US$3. We decided to
take our profits on that initial investment but we took an equity
share in Harry Winston as part of
the consideration, so we continue
to have a lot of confidence in diamonds and in Harry Winston.”
In a note to clients, UBS Research writes that Kinross could
use some of its profits to help fund
its recent 9.4% stake ($600 million)
in Red Back Mining (rbi-t) and
that there is potential for the gold
producer to raise its stake in Harry
Winston from 7.1 million shares
after the closing of the two transactions, should Harry Winston
elect to settle the 12-month note
payable in shares.
UBS has a 12-month share price
target on Kinross Gold of US$25.50.
(At presstime in New York, Kinross
was trading at US$16.34 per share.)
Diavik, Canada’s second diamond mine, began producing diamonds in the Northwest Territories
in January 2003. The mine is based
on four diamond-bearing kimberlite pipes within Lac de Gras. Today,
the Diavik mine is Canada’s largest
diamond producer and one of the
most profitable diamond mines in
the world.
The mine is a joint venture
between Harry Winston and Diavik Diamond Mines, a wholly
See KINROSS, Page 2
PM40069240 – PAP Registration #09263
2 AUGUST 2-8, 2010 THE NORTHERN MINER
Kinross Gold sells Diavik stake
KINROSS, From Page 1
owned subsidiary of London-based
Rio Tinto (rtp-n, rio-l).
Under the joint-venture agreement, Harry Winston Diamond
pays 40% of the operating and
capital costs and has the right to
receive and market 40% of Diavik’s
diamond production; it does not
operate the mine.
In Toronto, Harry Winston
shares fell $1.55 or 10.65% on the
news to close at $13 per share,
with 4.5 million shares trading
hands.
Over the last year, Harry Winston has traded in a range of $5.36$14.95, with 76.6 million shares
outstanding. UBS Research has a
12-month target price on the stock
of $15.50 per share.
Kinross is also buying B2Gold’s
(bto-t) right to acquire an interest
in the Kupol East and West li-
cences in Russia for an upfront
payment of US$33 million and
subsequent payments of US$15
million for each incremental million-oz. of gold reserves contained
in the licence areas, up to a maximum of 9 million oz. gold.
B2Gold will also receive payments equal to 1.5% of a net
smelter return royalty from the
start of production, subject to a
right for Kinross to repurchase
the royalty for US$30 million.
Under the terms of a previous
agreement, Kinross had undertaken to secure a 37.5% joint-venture interest for B2Gold in the
Kupol East and West exploration
licences areas.
Under the new agreement,
Kinross is no longer obligated to
enter into a joint-venture arrangement with B2Gold.
The Kupol East and West li-
cences are adjacent to the Kupol
gold mine and will remain 100%owned by the Chukotka Mining &
Geological Co. (CMCG), which
also owns 100% of the Kupol mine.
CMGC is owned 75% by Kinross
and 25% by the State Unitary Enterprise of the Chukotsky Autonomous Okrug (Chukotsnab).
Clive Johnson, Vancouver-based
B2Gold’s president and chief executive, said proceeds from the
sale would help the company chase
additional acquisitions, while at the
same time the terms of the transaction allow the company to benefit
from the exploration upside at
Kupol through contingent payments and royalties, making it a
win-win.
B2Gold currently has two mines
in Nicaragua and development and
exploration assets in Nicaragua,
Colombia and Costa Rica.
The other two areas that will see
drilling in the coming weeks are
separate targets. The Antler zone is
about 2 km to the southwest and
has seen some limited drilling. The
Hayes target, which lies another
kilometre to the southwest along
the traceable banded iron formation, has not been previously
drilled. North Country has four
drill rigs on site and plans to complete 20,000 metres of drilling.
In addition, North Country is
working through a Titan induced
polarization survey that will cover
7 km of the prospective trend, from
east of the Three Bluffs to west of
the Hayes target. The survey will
test for additional blind mineralization potential in an area that has
limited bedrock exposure.
North Country was born in
April as a spin off from CBR Gold,
which has since renamed itself
Niblack Gold (nib-v) in honour
of its flagship asset, the Niblack
volcanogenic massive sulphide
project in Alaska.
As part of the spinout, Niblack
transferred roughly $4.7 million
into North Country.
The company recently boosted
that working capital with a
$1.7-million private placement,
selling 1.2 million flow-through
shares at 32¢ apiece as well as 4.3
million units at 30¢ apiece. Each
unit comprised a share and half a
warrant, exercisable at 40¢ for
two years.
And investors certainly liked the
company’s first drill results from
Three Bluffs as North Country’s
share price gained 11.5¢ to close at
37¢. The company has 60 million
shares outstanding.
REGULAR
DEPARTMENTS
COMPANY INDEX
Careers............................. 11
Classified.......................... 15
Drillers.............................. 15
Editorial.............................. 4
Events............................... 15
Meetings.......................... 15
Metal Prices........................ 7
Professional Directory.... 12-14
Stock Tables................ 6-9,11
Web Directory.................. 15
AQM Copper..................... 1
Asarco................................ 5
Aurizon Mines.................... 3
Avalon Rare Metals............ 3
B2Gold............................... 2
Brigus Gold......................... 2
Cabo Drilling...................... 5
China Gold International
Resource Corp............... 5
China National Gold........... 5
Cliffs Natural Resources.... 11
Energizer Resources.......... 16
Evolving Gold..................... 3
Goldcorp...................... 2,3,5
Golden Phoenix Minerals.. 15
Great Western Minerals...... 3
Grupo Mexico.................... 5
Gryphon Gold..................... 1
Harry Winston Diamond..... 1
Jinshan Gold Mines............. 5
Kaminak Gold................... 11
Kinross Gold.................. 1,11
Luiri Gold.......................... 16
Lynas Corp......................... 3
Marathon PGM................ 15
Molycorp............................ 3
Mountain Lake Res........... 15
Neo Material Tech.............. 3
New Gold........................... 3
Newmont Mining............... 3
Niblack Gold....................... 2
NioGold Mining.................. 3
North Country Gold............ 1
Red Back Mining................ 1
Rio Tinto............................. 2
Sage Gold........................... 1
Salares Lithium................... 3
Scorpio Gold..................... 15
Southern Copper................ 5
St Andrew Goldfields.......... 2
Talison Minerals.................. 3
Teck Resources................... 1
STORIES WE’RE WORKING ON. . .
Since 1915
Be sure to check out our upcoming special themed
sections: Quebec and Labrador (August 23), and
China, Mongolia & Southeast Asia (Sept. 6).
North Country rises on Nunavut gold hits
NORTH COUNTRY, From Page 1
to the west when all six holes hit
gold.
The best result came from hole
82, which hit 42.1 metres grading
5.88 grams gold from 7 metres
depth. The hit in hole 82 included
15 metres averaging 10.2 grams
gold.
Hole 83 cut 3.5 metres grading
10.2 grams gold from 38 metres
downhole, followed 15 metres later
by 19 metres of 2.41 grams gold.
Hole 87 produced a 25-metre intercept grading 4.17 grams gold, starting 19 metres downhole. And hole
88 returned 31.9 metres carrying
2.27 grams gold, starting at 14 metres depth.
Mineralization at Three Bluffs
appears to be controlled by a
steeply dipping, folded iron formation that can be traced on surface
for 10 km and of which only about 1
km has been explored. The spring
drill holes all targeted the shallow,
western, updip portion of the
hinge, an area that was undercut in
previous drilling.
North Country plans to follow up
on these hits with 11 more holes
into the shallow western hinge,
which will be part of a summer
drill program that recently got underway. The company will also
probe three other areas this summer, one of which is farther west
along strike from Three Bluffs.
Vancouver, British Columbia:
Edgewater Exploration Ltd.
NORTH COUNTRY GOLD
In a recent spring drill program, North Country Gold extended the known
mineralization at Three Bluffs to the west when all six holes hit gold. The best
result came from hole 82, which hit 42.1 metres grading 5.88 grams gold
from just 7 metres depth. The hit in hole 82 included 15 metres averaging
10.2 grams gold.
AQM, Teck re-jig Zafranal deal
AQM, From Page 1
depth and drill a few holes on several satellite targets before the end
of the year.
AQM’s drilling success brought
joint-venture partner Teck back to
the negotiating table. The two companies recently amended the terms
of AQM’s earn-in in order to move
the project quickly along.
Under the new deal, AQM is immediately gaining a 50% stake in
Zafranal for having spent US$7.5
million on exploration over the
last year. AQM is the project operator and will solely fund the next
US$10.7 million in project work,
after which Teck will start contributing its half of costs. If Zafranal
reaches a positive development
decision, Teck can elect to become
operator.
For AQM, the key changes in the
new deal include: AQM no longer
has to make cash payments to Teck.
And Teck no longer holds the right
to back in for a 60% stake or hold a
net smelter return royalty. Instead,
the companies will be 50-50 partners in owning a new Zafranalfocused company.
Teck discovered Zafranal in
2003, during a regional exploration
program in southern Peru. The
major outlined an interesting conceptual resource through limited
drilling. In early 2009, after a bidding process, AQM won the right
to back in to Zafranal.
The junior soon kicked off a
40,000-metre drill program focused primarily on the central 2
km of the 3.5-km long, east-west
trending Main zone, which is one
of six porphyry copper-gold
targets identified at Zafranal. To
date, the program has defined
mineralized zone that covers 3.3
km along strike, 600 metres in
width and varies between 50 and
150 metres in thickness.
Other strong results from the
program include 118 metres of
1% copper, 358 metres of 0.7%
copper, 132 metres of 0.92% copper and 145 metres of 1.21% copper.
Mineralization at Zafranal is
zoned, with a leached zone atop an
immature secondary enrichment
blanket covering a little-explored
hypogene sulphide zone at depth.
AQM is currently awaiting results
from an initial metallurgical testwork program.
The Zafranal project is 90 km
northwest of Arequipa, 60 km
from the Panamerican Highway,
along a gravel road.
AQM gained 10¢ on Zafranal’s
latest drill results and the amended
joint-venture deal news to reach
81¢.
The company has a 52-week trading range of 50¢-$1.10 and 97 million
shares outstanding.
Sage Gold explores Nevada, Timmins
SAGE, From Page 1
(EDW: TSX-V), is pleased to announce
the appointment of Mr. George Salamis as President and Chief Executive
Officer. Mr. Salamis has over 20 years
of experience in mineral exploration,
mine development and mine operations
and was formerly President of Rusoro
Mining Limited, a TSX Venture-listed
junior gold producer, and CEO of Caledon Resources plc, a metallurgical coal
producer in Australia. Mr. Salamis has
previously held senior management
positions with a number of major mining companies including Placer Dome
Inc. and Cameco Corporation.
Edgewater Exploration Ltd. is a
mineral exploration company focused
principally on the acquisition, advancement and development of precious
metal properties on a world-wide basis.
For Further information contact:
Ryan King, Vice President (778) 9983700 or visit our website at: www.
edge-water.com
Sage Gold believes that there is
“significant opportunity” to expand
both the sulphide and the oxide resource at Borealis.
“When (the previous operators)
Echo Bay Mines hit sulphides, they
stopped,” Bill Love, a geologist and
Sage Gold’s vice-president of business development, said. “But there
are tremendous high-grade pods
of sulphide material. We are permitted to drive a ramp into the
higher grade core.”
In their presentation, Sage Gold’s
managers noted that they expect
the Borealis deposit to yield 50,000
oz. gold per year but there is the
opportunity to expand to 75,000 oz.
per year in oxide production.
Miners operated Borealis from
1981 through 1990 and produced
gold from eight open pits. The
mined ore contained about
635,000 oz. gold, of which about
500,000 oz. was recovered through
a heap-leach operation.
Under Sage Gold’s option agreement, it can earn a 50% stake in
Borealis through a $400,000-private placement in Gryphon Gold
and by spending $9 million in project finance before June 2011. A
drill program is underway to expand and upgrade the oxide resource. Sage Gold estimates capital
expenditure will amount to about
US$17.2 million.
Meanwhile, in northeastern Ontario, Sage Gold signed an option
agreement in February with St
Andrew Goldfields (sas-t) to
earn a 60% interest for $3 million
in the ground and $200,000 in
cash and shares over three years,
in the Clavos property in the Tim-
mins gold camp.
Clavos is 10 km from Brigus
Gold’s (brd-t, brd-x) 2,000-tonneper-day mill and 20 km from Goldcorp’s (g-t, gg-n) Hoyle Pond
mine, which has produce more
than 2.4 million oz. gold since 1985
and still operates today.
Clavos has existing infrastructure including an underground
ramp access to the 300-metre level,
underground levels developed
every 25 metres, power to site, a
surface ventilation system and
fully permitted waste water management. It also has a mining permit valid until 2019. About $72
million has been spent on Clavos,
of which $46 million went into underground workings.
The deposit was mined briefly
between 2005 until August 2006
and again until May 2007.
Scott Wilson RPA prepared a National Instrument 43-101 compliant
resource estimate in October 2006.
At a cutoff grade of 4 grams gold
per tonne, Clavos has measured
and indicated resources of 143,000
tonnes grading 8.07 grams gold per
tonne for contained gold of 37,100
oz. and inferred resources of
529,000 tonnes of 6.49 grams gold
for 110,300 oz. contained gold. (The
resource was not reduced to reflect
mining from October 2006 to May
2007).
Sage Gold also has exploration
properties in Ontario’s BeardmoreGeraldton gold camp.
At presstime in Toronto, Sage
Gold shares were 19¢, trading
within a 52-week range of 17¢-75¢.
In July 2008, Sage Gold was trading
at $1.60 per share. The company has
30.4 million shares outstanding.
THE NORTHERN MINER AUGUST 2-8, 2010 3
Aurizon Mines gets
busy in July
July has been a busy month at
Aurizon Mines (arz-t, azk-n). On
July 5, the Vancouver-based gold
producer unveiled that it had significantly updated its resource for
the Hosco gold deposit on its Joanna property in Quebec. And a day
later, it announced a joint venture
and option agreement with NioGold Mining (nox-v, noxgf-o) on
its Marban Block property in the
Malartic gold camp in Quebec’s
Abitibi region.
The Joanna property, which is
about 20 km east of RouynNoranda, now has measured and
indicated resources at a 0.5 gram
gold per tonne cutoff grade of
40.44 million tonnes averaging
1.33 grams gold per tonne for 1.73
million oz. gold, up from a November 2009 estimate of 30.08 million
tonnes at 1.33 grams gold for 1.29
million oz. gold.
The increase comes from outside the pit outline used in the December 2009 prefeasibility study
and the lateral extensions between
surface and a depth of 100 metres.
Inferred resources gained 11%
or 91,000 oz., and now stand at
23.17 million tonnes of 1.19 grams
gold for contained gold of 887,000
oz., up from the previous estimate
of 20.81 million tonnes of 1.19
grams gold for 796,000 oz. contained gold.
Separately, Aurizon’s agreement
with NioGold allows it to earn a
50% interest in the Marban Block,
subject to underlying royalties, by
spending $20 million over three
years, of which $5 million must
be spent in the first year. Aurizon
also has to complete an updated
resource estimate and based on
that, make resource payments
equal to $30 (or $40 if the price of
gold is above US$1,560 per oz.)
multiplied by half the number of
gold oz. in the measured and indicated category, and a further $20
(or $30 if the price of gold is
above US$1,560 per oz.) multiplied by half the number of gold
oz. in the inferred category, based
on the updated resource estimate.
Aurizon can then earn an additional 10% interest by completing a
feasibility study and a further 5%
for a total of 65% by arranging financing to bring the project into
production.
See AURIZON, Page 10
Goldcorp invests
$15.6M in Evolving Gold
BY SUSAN KIRWIN
Although the Evolving Gold
(evg-v) team consists of several
former Newmont Mining
(nmc-t, nem-n) people, it’s Goldcorp (g-t, gg-n) that has decided
to invest $15.6 million in the junior
gold explorer.
Goldcorp is buying 19 million
Evolving shares at 82¢ apiece in a
private placement — a significant
stake in a company that currently
has 107.2 million shares outstanding and a market cap of $85.8 million.
Evolving president and chief geologist Quinton Hennigh, who used
to work for Newmont, says Goldcorp had no prior interest in Evolving until now.
“I can’t speak on behalf of Goldcorp but I would say there was a lot
of intrigue with the fact that we
have a large land position in the
Carlin trend,” Hennigh says.
Evolving will use the funds to
explore its Rattlesnake Hills gold
project in Wyoming and its Carlin
and Humboldt gold projects in
Nevada. Rattlesnake Hills is a former Newmont project and Evolving has a lease and sublease agree-
Molycorp to raise $240M
in IPO for REE mine
Molycorp, owner of the Mountain
Pass rare earth element (REE) mine
in California, is going ahead with
an initial public offering (IPO) topping US$420 million so it can ramp
up North America’s only current
source of the metals needed for
hybrid cars, wind power turbines
and other high-tech applications.
Developing new sources of REEs
is becoming more important with
time because China, which produces about 95% of the world’s
REE supply, is continually cutting
its export quotas.
Molycorp, based in Greenwood
Village, Colo., is looking at issuing
28.13 million shares at a price between US$15 and US$17 per share
with an overallotment option for
an additional 4.2 million shares.
The company’s subsidiary, Molycorp Minerals, will use the funds to
modernize and expand the Mountain Pass mine and production facility. After restarting production
at Mountain Pass in early 2009,
(mining stopped in 2002), Molycorp said it wanted to ramp up production to 40 million lbs. of rare
earth products per year by 2012.
Molycorp spokesman Jim Sims
was unable to comment on any aspect of the IPO or the development
of the mine restoration.
The plan as of last summer was
to dewater the mine over a span of
a year and then remove overburd–
en for another year to expose an
area of fresh ore that will be
needed to meet Molycorp’s 2012
production goals.
In June, Molycorp announced
that it had signed a letter of intent
with Toronto-based Neo Material
Technologies (nem-t), which
produces neodymium-iron-boron
magnetic powders and other rareearth-based engineered materials
to customers in China, the U.S.,
Japan and Europe. The companies
have agreed to cooperate on a rare
earth “mine to magnets” supply
chain to their mutual benefit. Neo
will provide Molycorp with technical assistance and know-how
with respect to production of rare
earth metals, alloys and magnets
and Molycorp will consider potential supply agreements.
Neo has been reliant on China for
its rare earth products, however,
the company set up shop in China
years ago to secure its supply for
products manufactured there. The
Chinese government limits how
much rare earth products Neo can
export for use elsewhere, so having
a source outside of China would
be advantageous.
There are several other REE
projects outside of China that are
being developed in addition to
Mountain Pass.
Avalon Rare Metals (avl-t) is
developing the Nechalacho project
near Thor Lake, N.W.T. A prefeasibility study recently put development costs at $889.7 million with
production starting in 2015.
Two of Great Western Minerals’ (gwg-v) more advanced projects are the Hoidas Lake project
near Uranium City, Sask., and the
Steenkampskraal mine in South
Africa.
Australia’s Lynas Corp. (lyc-a)
is developing the Mt. Weld rare
earth oxide deposit in Western
Australia, complete with an advanced materials plant located in
Malaysia. The company says the
project has the capacity to supply
up to 20% of the global REE market for 30 years. Production is supposed to start in 2011.
BY SUSAN KIRWIN
Some of the funds Evolving Gold will receive from its private placement with
Goldcorp will go towards its Rattlesnake Hills project in Wyoming (above).
ment with Newmont for the Carlin
property. Humboldt was acquired
from private landholders and has
no connection to Newmont.
On the private placement news,
Evolving shares closed at 86¢ with
2 million shares changing hands.
Once the money comes from
Goldcorp, Evolving will have $27
million in the bank, giving the company enough cash to stretch well
beyond this year’s $8-million-or-so
budget.
See GOLDCORP, Page 10
Talison, Salares
Lithium to merge
Vancouver — Australian producer Talison Minerals and Vancouver-based Salares Lithium
(lit-v) are joining forces to create
the world’s largest publicly traded
lithium production and exploration company.
Talison is already the largest
lithium producer in the world,
based on its hard-rock mine in the
Greenbushes area of Western
Australia. Lithium mining at
Greenbushes dates to 1983; the processing plant was built in 1985 and
has been expanded several times
since, to now produce roughly
260,000 tonnes of lithium concentrate annually.
That production level has enabled Talison to position itself as
one of the largest suppliers of lithium in the key Chinese lithium
market. Now the Perth-based
company is taking over Salares
Lithium and listing on the Venture
Exchange.
Salares is a lithium explorer with
a large, prospective brine project
portfolio focused exclusively on
Chile, which produces more lithium than any other country. Salares’ 400-sq.-km land package in
northern Chile’s Atacama Desert is
home to five salares, or brine lakes,
and the company’s recent geophysical work has increased its
confidence that those lakes host a
significant lithium resource.
The proposed merger would see
Talison handing over 2.81 shares
for each Salares share, resulting in
a new company owned 80% by
Talison current shareholders and
20% by current Salares shareholders.
The offer values a Salares share
at $1.25, a 98% premium based on
the company’s 20-day volumeweighted average share price. The
merged entity will be known as
Talison Lithium and will have offices in Perth and Vancouver.
As Salares and Talison work
through the merger requirements,
including obtaining approval from
Salares shareholders, Salares is undertaking a $40-million private
placement of subscription receipts. Talison’s major shareholder,
Resource Capital Fund, has fully
subscribed for the private placement but will scale back its commitment to allow other investors
See TALISON, Page 5
New Gold produces 90,000 oz. in Q2
New Gold (ngd-t, ngd-x) shares
were up nearly 5% to $5.25 apiece
on July 20 on news the company
was able to increase gold production by 62% in the second quarter,
due mostly to its Mesquite gold
mine in California.
New Gold produced about
90,000 oz. gold from its mines in
California, Mexico and Australia,
up from 56,000 oz. during the same
period last year.
“With further increases in gold
production and decreases in cash
cost, we expect the second half of
2010 to be an exciting one for New
Gold,” said Robert Gallagher, New
Gold’s president and CEO, in a
statement.
A decrease in cash costs would
be welcomed after a rise to an average of US$490 per oz. in the sec-
ond quarter from US$468 per oz.
in the same period last year.
The company expects to produce 330,000 oz. to 360,000 oz.
gold in total over the course of
2010 with cash costs between
US$445 and US$465 per oz. sold,
net of byproduct sales.
Gold sales from the Mesquite
mine rose 42% in the second quarter to 39,000 oz. gold from 27,000
oz. while actual production was
39,000 oz. compared to 26,000 oz.
New Gold said it was able to increase production because it used
a lower waste mining requirement and was therefore able to
increase tonnage compared to
last year. There was also an improvement in gold recoveries,
though some of the benefits were
offset by mining ore below reserve
grade.
For the first half of 2010, gold
sales at Mesquite increased by
47% to 88,000 oz. gold with production at 83,000 oz., up from
60,000 oz.
While New Gold was busy
fighting with Mexico’s environmental authority to keep its Cerro
San Pedro gold-silver mine in
San Luis Potosi state open, the mining team was able to increase production at the mine by 22% to
29,000 oz. Gold sales increased
just 6% to about 25,000 oz. while
cash costs dropped substantially
to US$288 per oz. compared to
US$429 per oz.
New Gold said higher byproduct
revenues helped lower cash costs
and an increase in tonnes of ore
mined boosted production.
The lower production in the
first quarter of 2010 was due to the
company’s explosive permit being
delayed. In the first two quarters,
New Gold produced a total of
42,000 oz. at Cerro San Pedro,
compared to about 45,000 oz.
during the first half of 2009.
New Gold has been in court
trying to undo the Mexican environmental regulatory agency’s
move to cancel the company’s environmental impact statement.
The company has appealed
against the court’s recent decision
in favour of the agency. An evaluation by the judge is expected to
take four to six months. The mine
remains in operation for the time
being as a result of an injunction
granted in New Gold’s favour in
late 2009.
Finally, New Gold’s Peak goldcopper mine in New South Wales,
Australia, was basically unchanged hovering around the
22,000-oz. mark. Cash costs rose
significantly to US$459 per oz.
from US$364 per oz. The company
said the increase was due to the
timing of concentrate shipments
and related inventory charges, an
increase in salary costs and the appreciation of the Australian dollar.
The company noted that its average realized copper price had risen
significantly from US$2.07 per
lb. to US$3.09 per lb.
During the first half of the year,
production at the Peak mine was
about 42,000 oz. gold, down from
43,000 oz., while copper production was about 4 million lbs., down
from 4.3 million lbs.
4 AUGUST 2-8, 2010 THE NORTHERN MINER
EDITORIAL
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Shrewd Kinross
reaps windfall
When it comes to adversity, some people just rise above it all.
• That’s certainly the case with Kinross Gold and its brief but very
profitable dabbling in the diamond market in the form of exquisitely
timed investments in Harry Winston Diamond and the Diavik
diamond mine in the Northwest Territories.
At the onset of the global recession, the rough diamond market
virtually dried up, putting Harry Winston in a very vulnerable
position as it and partner Rio Tinto were simultaneously looking at
suspending mining and raising large sums of cash to finance
underground mine expansion.
Flush with cash from its profitable gold mines, Kinross stepped in
early last year with purchases of minority interests in both Harry
Winston and the Diavik mine for about US$150 million in total.
Of course, the diamond sector bounced back faster than many
predicted, thanks mainly to De Beers’ deep production cuts,
allowing Kinross this week to announce it is unwinding its various
diamond investments for a tidy profit of about US$268 million.
• Looks like there’s still a healthy appetite for new junior gold-silver
plays, as shown by the closing of a $300-million offering by
Vancouver-based Mala Noche Resources.
Money will be used to close the acquisition of Goldcorp’s San
Dimas gold-silver mining complex in the historic San Dimas
epithermal mining district located on the border of Mexico’s
Durango and Sinaloa states. The three mines Mala Noche is buying
produced 113,000 oz. gold and 5.1 million oz. silver last year.
Mala Noche is changing its downer name to a more upbeat
“Primero Mining” soon.
• The mineral-rich Sahel desert region of French-speaking West
Africa is getting much more dangerous, with the killing of
kidnapped 78-year-old French aid worker and retired engineer
Michel Germaneau by Al Qaeda in the Islamic Maghreb (AQIM),
who number about 400 fighters. The killing followed a FrenchMauritanian commando raid in late July on an Al-Qaeda camp in
Mali where Germaneau was mistakenly believed to have been held.
Germaneau had been kidnapped in Niger in April while helping to
build local schools.
The Germaneau killing has outraged the French public and
French Prime Minister Francois Fillon announced for the first time,
in unusually blunt language for the French, that “France is at war
with Al-Qaeda.” The French and U.S. governments are already
supporting a joint military headquarters opened in April in southern
Algeria by the governments of Algeria, Mauritania, Mali and Niger.
A British ex-pat was beheaded by AQIM in the region last year,
and two Spanish nationals kidnapped in Mauritania in November
remain unfound.
• The juniors exploring for Arctic gold are providing a lot of the
buzz for penny stock enthusiasts in 2010. This week it was North
Country Gold’s turn, as its stock popped on the back of long, highgrade gold intercepts at its wholly-owned Three Bluffs gold deposit
in Nunavut’s Committee Bay greenstone belt.
The Edmonton-based, John Williamson-led company has been
successful in drilling out an extension of a known high-grade hinge
zone. Existing indicated and inferred resources at Three Bluffs total
752,000 oz. gold at around 5.9 grams gold per tonne, and these latest
results hint there’s more to come.
The junior plans to drill 20,000 metres this year at Three Bluffs
using four rigs, and has already discovered a new gold-rich zone
named Antler, situated 1.5 km west of Three Bluffs.
• While the gold fever generated by Underworld Resources at its
White Gold project in the Yukon was cut short in March by the
junior’s $140-million acquisition by Kinross Gold, Kaminak Gold is
picking up the slack with enticing early results from its Coffee
property in the White Gold district.
This year Kaminak has extended Coffee’s newly discovered Latte
gold zone, with hits such as 2.35 grams gold over 51 metres and 1.27
grams gold over 78 metres. Upcoming work is being helped along by
a recent $10-million financing.
• Among the junior miners in Canada’s North, a couple of
milestones were met.
Consolidated Thompson Iron Mines celebrated the maritime
departure from its new port facilities in Sept-Îles, Que., of its first
shipment of iron ore concentrate to its Chinese clients, with product
mined from its now fully operational Bloom Lake mine in Quebec.
And North American Tungsten announcing it would reopen the
suspended Cantung tungsten mine in the Nahanni region of the
Northwest Territories, thanks to a rebound in tungsten prices. The
first full month of production will likely be October.
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FA C T S ’ N ’ F I G U R E S
Canadian M&As
hit 5-year low
Canadian merger and acquisition (M&A)
activity fell 30% in the first half of 2010,
according to a new report issued by mergermarket.
The report, H1 2010 Canadian M&A
Round-Up, which was released mid-July,
compiles data based on transactions over
US$5 million announced between January 1
and June 30, 2010.
The following is a condensed version of
the findings. To download a copy, visit
www.mergermarket.com.
In Canada, money spent on M&As totaled US$29.6 billion for the first half of 2010,
down from US$42.5 billion spent in the
same period of 2009. This is the lowest halfyear period since 2005.
Mega deals, which constitute a deal over
US$500 million, followed the downward
trend, with only US$18.1 billion changing
hands in the first half of 2010. Despite this,
M&A activity saw a spike in deals with 210
ral resources. Energy, mining and utilities
represented 65% of the total value of inbound deals.
Energy deals dominated M&A activity, in
terms of value, representing 49% in the first
half 2010. The industry saw 57 energy sectorrelated transactions.
Deals in energy, mining and utilities together represented 66% of overall Canadian deal value in the first half of 2010.
About 37% or 77 deals were attributed to
these sectors.
On the back of a stronger Canadian dollar,
the industry has set its sight on the U.S.,
with 51 M&A outbound deals worth US$10.6
billion taking place between the neighbouring nations.
A weakened Sterling also garnered Canadian companies’ interest with 10 deals taking place between the commonwealth siblings worth US$866 million.
Although the largest outbound invest-
In Canada, money spent on M&As totaled
US$29.6 billion for the first half of 2010, down from
US$42.5 billion spent in the same period of 2009.
This is the lowest half-year period since 2005.
announced in the first half of 2010 in Canada.
The fragile economy of the first half of
2009 saw 153 M&As.
Goldman Sachs and TD Securities battled
for the top financial advisor by value — with
Goldman Sachs coming on top with US$9.8
billion worth of deals, while TD Securities
completed 28 transactions worth US$8.1
billion. This put TD Securities in first place
for rakings by volume, up seven places
from the first half of 2009.
Blake, Cassels & Graydon held steady as
the most active law firm, with 36 deals
worth US$18.36 million. While Osler,
Hoskin & Harcourt racked up US$18.4
billion worth of deals.
Mergermarket also noticed a clear trend
in investments in Canadian resources, with
the United States and China being first in
line to get a hold of Canadian companies
and properties.
Some 78% of the money spent on inbound
M&As came from China and the U.S. in the
first half of 2010 as the two countries jockeyed for a stake in Canada’s array of natu-
ments were in the pharma, medical and
biotech sectors (US$3.8 billion or 27.8%
worth) in the first half of 2010 — energy,
mining and utilities came in second, with
19.5% of the value spent on deals being attributed to these sectors.
Overall, the first half of 2010 saw 89 Canadian outbound deals worth US$13.7 billion,
the highest in value and volume since the
second half of 2007.
Among the firm’s findings was the shift
from investments in energy, mining and
utilities towards alternative energy over the
past two years. M&A activity in alternative
energy rose from US$319 million in 2008 (a
mere 0.7% of Canadian Energy deals) to
US$3.9 billion or 7% in 2009. The first half
of 2010 alone has already seen seven deals
worth US$711 million.
The report also noted that between 2004
and 2009, the alternative energy sector
represented 4.8% of all energy-related
transactions in Canada. From 2009 to the
end of the first half of 2010, that average
increased to 11.5%.
THE NORTHERN MINER AUGUST 2-8, 2010 5
OP-ED
MATTERS OF GENERAL INTEREST
PEOPLE
SUPPLIERS NEWS
Goldcorp enlists Cabo Drilling for Hollinger
North Vancouver-based Cabo Dril­
ling (cbe-v) has snagged a contract
with Goldcorp (g-t, gg-n) to drill
5,000 metres at the company’s Hollinger gold mine in Timmins, Ont.
The contract, which is for reverse circulation (RC) hammer
drilling, will help Goldcorp establish potential open-pit mineralization at Hollinger, which is part of
it’s Porcupine project.
Cabo has a fleet of RC drills at
its disposal including large diameter downhole reverse hammer
precision rigs and Acker longstroke drills, which can be
mounted on Flex Trac Nodwell
carriers or Fly skids to minimize
the environmental footprint.
A press release emphasized both
companies’ focus on safety.
“We are pleased to join the Goldcorp team at the Porcupine project,
where they truly believe that safety
is the priority under all circumstances. Every employee, of both
companies, is encouraged to work
safely and promote safety as a main
part of their job,” said John Versfelt, chairman, president and CEO
of Cabo Drilling, in a statement.
In addition to Hollinger, the Porcupine gold mines area hosts the
Dome mine and mill, the Hoyle
Pond mine and a large land package
in the Timmins gold camp.
Cabo also recently participated
in Northern College’s Surface Diamond Driller Assistant Common
Core Program graduation luncheon in Timmins, using the opportunity to hire new grads.
Grupo Mexico to merge
Asarco, Southern Copper
One of Mexico’s biggest natural
resource company’s, Grupo
Mexico, wants to unite two of its
affiliates to create a behemoth in
the copper world.
The company is proposing to
merge Asarco and Southern
Copper (scco-n) to usher in
greater efficiency and rationalize
its mining division.
The two companies would be
brought together under the Americas Mining Corp. banner — which
is also a subsidiary of Grupo Mexico — in a deal that would give
Southern Copper shareholders
1.24 Americas Mining shares for
each Southern share held. The
shares of the merged company
would then trade in both the U.S.
and Peru.
The deal values Asarco at
US$5.9 billion and would leave
Southern Copper’s minority
shareholders with 16.6% of the
new company.
Southern Copper has a strong
Peruvian focus and boasts the
largest copper reserves in the
world. It is 80% held by Grupo
Mexico.
Asarco is the third-largest copper producer in the U.S., producing roughly 400 million lbs. of
copper per year. Both companies
are integrated miners with smelting and refining facilities.
Grupo Mexico regained full
control of Asarco late last year
when it pulled it out of a four-year
bankruptcy protection.
By bringing the two mining units
together, investors would have a
single stock through which to access the conglomerate’s mining
division. Grupo also has railroad
and oil-drilling units. It is considering doing a separate initial public offering for its rail division. As for the increased efficiency
that Grupo believes the merger
would bring, the company says
transportation costs and capital
investments would be lowered if
the two companies were merged.
Word of the proposed merg–
er had yet to unleash a positive
impact on Southern Copper’s
share price as the company was
off a percentage point to US$31.72
in New York on July 23. The stock
has, however, climbed from
US$29.33 on July 16.
BY TRISH SAYWELL
shareholders approved the name
change at the company’s annual
general meeting on June 17 and its
shares began trading under the
new ticker symbol on July 19.
“The strategy is to become
global,” Frank Lagiglia, head of
investor relations at China Gold
International, explained in a telephone interview from Vancouver.
“They (China National Gold) want
to use us as a vehicle to go out
and start acquiring projects and
the TSX listing helps them do that
because we have access to North
American markets.”
In theory, of course, that makes
a lot of sense, industry observers
say. But China Gold International
could also become a vehicle for
what some might argue are politically unattractive “internal” assets
such as the Jiama copper-goldsilver-molybdenum property in
Tibet.
In September 2009, Jinshan an-
Talison-Salares merger
TALISON, From Page 3
to participate.
The $40 million raised in the
placement will be used to finance
the growth strategies of the
merged group, including another
expansion of the Greenbushes
mine, a new round of exploration
around the operating mine aimed
at upgrading and increasing
r e sources, further feasibility
studies into developing a lithium
carbonate plant to further process concentrates from the mine,
and acceleration of the exploration work at Salares’ projects in
Chile.
Lithium applications fall within
two broad categories: technical
and chemical.
Technical applications include
glass and ceramics as well as
mould fluxes for steel casings, and
these uses require low iron concentrates. Chemical applications include batteries, lubricants,
aluminum smelting and pharmaceuticals.
Salares remained halted for several days after the merger news,
keeping its share price at 62¢. The
company has a 52-week trading
range of 46¢-$1.22 and 36 million
shares outstanding.
Universal Uranium — Richard
Walters resigned as a director;
Bert Jeffries appointed a director.
Viking Gold Exploration —Robert Ginn retired as president and a
director; John Hansuld appointed
interim CEO.
Virgin Metals — Lucas Ewart resigned as CEO, but remains chairman; Chris Carmichael resigned as
CFO; Chris Frostad appointed
president and CEO.
Western Coal — John Conlon
resigned as a director; David R.
Beatty appointed chairman; Neil
Winkelmann appointed COO.
West Kirkland Mining — Michael Allen appointed VP of exploration; Frank Hallam appointed
CFO.
WGI Heavy Minerals — Vic Alboini resigned as a director; Patrick
Hodgson elected a director.
Wildcat Silver — Don Taylor appointed VP of exploration.
Yale Resources — Cary Martin
appointed manager of investor relations.
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Jinshan goes native
The largest shareholder in Vancouver-based J i n s h a n G o l d
Mines with a nearly 40% stake is
China National Gold, a stateowned Chinese enterprise and the
country’s biggest gold producer.
The partnership has brought
with it many perks for Jinshan —
from seemingly endless supply of
inexpensive credit to access to the
Chinese mining giant’s technical
expertise and pipeline of assets.
China National Gold’s general
manager — Sun Zhaoxue — is Jinshan’s chairman and chief executive, while Zhanming Wu, Jinshan’s director and vice-president
of business development, is the
head of capital markets at China
National Gold.
Recently, Jinshan has changed
its name to China Gold Interna­
tional Resources Corp. (cgg-t)
to better reflect its relationship
with China National Gold. Jinshan
Sinchao Metals — Bruce Ramsden
appointed VP of finance and CFO.
Stonegate Agricom — Michelle
Stone appointed VP of exploration;
Wayne Cheveldayoff appointed
VP of investor relations.
Tarsis Resources — Adrian Fleming appointed a director.
Thompson Creek Metals —
Carol Banducci elected director;
Ian McDonald and Kerry Knoll resigned as directors.
Tiex — Steven Sobolewski resigned as a director; Terry Severs
appointed a director.
Tirex Resources — William Weymark resigned as a director; Fred
Sveinson appointed a director.
Torex Gold Resources — Terry
MacGibbon appointed non-executive chairman.
Toro Resources — Anthony
(Tony) Floyd appointed a director.
Treasury Metals — James Fairbairn resigned as CFO; Dennis
Gibson appointed CFO.
TVI Pacific — Queenie Lung resigned as CFO.
nounced in a press release that it
had signed a memorandum of
understanding with China National Gold and another partner to
acquire a 100% stake in the Jiama
property. (China National Gold
owns 51% of the project.)
But, nowhere in the press release did it mention that Jiama is
80 km outside of Lhasa, the Tibetan
capital.
The Beijing government and the
Tibetan government-in-exile disagree over the definition of Tibet
and whether its incorporation
into China is legitimate according
to international law.
“Leaving aside the (geo-political) sensitivity, if you’re talking
about it as a vehicle to go international, they’re not achieving
what they said they’re going to
do,” says a mining executive familiar with the company who request–
ed anonymity. “Just jamming
through an internal asset doesn’t
make much sense. . . A more modern state-owned enterprise would
say, ‘What is out there that would
be attractive and make us a serious
gold platform,’ but unfortunately
they don’t think like that. They’re
not particularly sophisticated.”
Lagiglia noted that China Gold
International is also looking at
other possible acquisitions around
the globe — from Russia and
Mongolia to North America, Africa and Australia. “Whatever
makes sense,” he says. “They’re not
looking at exploration or anything
greenfield, it has to be very advanced stage.”
Jiama is slated to become an
u n derground mining opera tion with a production capacity
See JINSHAN, Page 15
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6 AUGUST 2-8, 2010 THE NORTHERN MINER
MARKET NEWS
Mine Safety and Security
www.westernalliance.ca
TORONTO STOCK EXCHANGE
The markets were positive around the
globe over the July 19-23 trading period and
Toronto was no exception. The TSX composite index rose 1.4%, or 160.35 points, to
11,730. Strong economic reports in Europe
added some positivity amidst some forecasts for slowing growth in North America.
This was evident with mining stocks as investors pushed up base metals stocks while
the gold stocks were relatively flat.
The Capped Metals & Mining index
jumped 9.5%, or 83.44 points, to 959.8, while
the Global Gold index was basically unchanged at 355.19 points.
Looking at the most actively traded stocks
of the week, Lundin Mining was at the
top, with 27.1 million shares changing
hands, giving shares a 34¢ boost to close at
$3.92. The company plans to release its second quarter earnings on July 28.
Andean Resources shares were the second most actively traded, after a busy week
that included a huge $234.5-million bought
deal financing led by BMO Capital Markets
and RBC Capital Markets at $3.35 per share.
Andean will largely use the funds to advance its Cerro Negro gold project in Santa
Cruz province, Argentina. The company
reported finding “bonanza-grade” mineralization at its Mariana Central vein at Cerro
J U LY 1 9 - 2 3
Negro. Highlights include 8.5 metres grading 46.1 grams gold per tonne, 9 metres of
127.1 grams gold and 14.5 metres of 55.3 grams
gold.
Teck Resources was one of the top gainers by value, up $3.56 to $37 a share, and one
of the most actively traded stocks, with 21.1
million shares changing hands. The company is still investigating the cause of an explosion at its Greenhills coal mine near Elkford, B.C., on June 28. The mine was
supposed to produce 4.3 million tonnes of
coal this year, or about 2% of world’s coal
supply.
Khan Resources saw its shares rise
52.1% to 35¢ apiece, following a victory in a
Mongolian courtroom and the postponement of another case. The court ruled that
TSX most active issues
VOLUME
(000s) HIGH
Lundin Mng
Andean Res
Teck B
Western Coal
Kinross Gold
B2Gold
Eldorado Gold
Yamana Gold
Barrick Gold
Osisko Mng
LUN
AND
TCKB
WTN
K
BTO
ELD
YRI
ABX
OSK
27082
22586
21081
19895
15994
13735
12530
12388
12262
10565
3.99
3.78
37.25
4.40
17.36
1.63
16.90
10.02
44.50
12.26
WEEK
LOW CLOSE CHANGE
3.41
3.07
32.67
3.76
16.08
1.41
16.06
9.68
42.84
11.64
3.92
3.40
37.00
4.39
17.05
1.58
16.90
9.88
43.86
11.83
+
+
+
+
+
+
+
-
-
+
0.34
0.36
3.56
0.43
0.45
0.11
0.14
0.18
0.14
0.04
to sell its 9% indirect stake to Harry for
US$220 million. Last year, when diamond
prices had dropped and the Diavik mine
faced uncertainty, Kinross paid US$104
million to Harry for the stake. Kinross is
also selling its 19.9% stake in Harry Winston
to some financial institutions, after acquiring the interest through a private placement at US$3 a share, netting about
US$150 million.
the Mongolian Nuclear Energy Agency’s decision to invalidate Khan’s mining licence
on the Dornod uranium project was invalid
and illegal.
Harry Winston Diamond was one of the
top losers based on value, down $1.43 to
close at $13 apiece. Harry announced an
agreement to increase its ownership in the
Diavik diamond mine, joint venture with
Rio Tinto, to 40%. Kinross Gold agreed
TSX greatest percentage change
VOLUME
(000s) HIGH
Khan Res
Yukon-Nev Gold
Petaquilla Mnl
Mega Uranium
Anaconda Mng
TriAusMin
Augusta Res
Forsys Metals
Energy Fuels
Avalon Rare Mt
Canarc Res
First Uranium
Freegold Vent
PC Gold
BRC DiamondCr
Inter-Citic Mn
Nautilus Minls
WGI Heavy Mnl
Alexis Minls
Geologix Ex
KRI
YNG
PTQ
MGA
ANX
TOR
AZC
FSY
EFR
AVL
CCM
FIU
ITF
PKL
BCD
ICI
NUS
WG
AMC
GIX
2424
8215
1012
4872
271
62
1608
1221
550
1062
185
4205
116
1798
681
918
3067
29
8381
1704
0.47
0.34
0.52
0.47
0.29
0.06
1.78
1.86
0.20
2.74
0.08
1.08
0.06
1.29
0.10
1.33
2.14
0.49
0.17
0.28
TSX greatest value change
WEEK
LOW CLOSE CHANGE
VOLUME
WEEK
CLOSE CHANGE
0.25
0.25
0.37
0.38
0.25
0.05
1.50
1.46
0.16
2.27
0.06
0.87
0.05
0.92
0.06
1.13
1.71
0.44
0.14
0.22
First Quantum
Labdr I-Ore Ro
Teck B
Teck A
Inmet Mining
Major Drilling
HudBay Minls
Ivanhoe Mines
SouthGobi Res
Agrium
Central Gold-T
Harry Winston
Pan Am Silver
Allied Nevada
Seabridge Gold
Newmont Mng
Richmont Mines
Silver Std Res
Central Fund
Labdr Iron Mns
67.78
48.05
37.00
37.95
48.35
24.04
13.18
18.35
13.66
62.96
48.20
13.00
24.15
17.10
27.70
61.41
4.30
16.72
15.01
3.92
0.35
0.33
0.47
0.46
0.29
0.06
1.77
1.84
0.19
2.70
0.06
0.89
0.05
0.95
0.06
1.16
1.83
0.44
0.15
0.23
+
+
+
+
+
+
+
+
+
+
-
-
-
-
-
-
-
-
-
-
52.1
32.0
30.5
21.0
20.8
20.0
19.5
19.4
18.7
16.8
25.0
17.5
16.6
14.4
14.2
12.1
12.0
12.0
11.7
11.5
FM
LIF_U
TCKB
TCKA
IMN
MDI
HBM
IVN
SGQ
AGU
GTU_U
HW
PAA
ANV
SEA
NMC
RIC
SSO
CEFA
LIM
TSX VENTURE EXCHANGE
The S&P/TSX Venture composite index
managed four days of straight gains following an early week dip to close up 15.49
points at 1,394.98. Daily trading volumes increased for another week, averaging 95.3
million.
Despite the overall gain, the market is still
decidedly bearish: 18 juniors hit new highs
while 230 fell to new lows.
North Country Gold’s share price shot
up 11.5¢ or 45.1% to close at 37¢, following
some impressive initial drill results from its
Three Bluffs gold project in Nunavut. The
company went public in April and has since
been busy drilling on its 2,256-sq.-km land
package, 300 km northeast of Baker Lake.
The best drill result to date from Three
Bluffs is 42.1 metres grading 5.88 grams gold
per tonne from 7 metres depth.
Rare earth element-based companies
Rare Element Resources and Quest Rare
Minerals both saw the biggest share price
gains a week after China announced measures to restrict the supply of rare earth elements. On no news released by the companies, Rare Element Resources shares
climbed 66¢ or 27.4% to $3.07 and Quest Rare
Minerals shares rose 57¢ or 27.4% to $2.69.
Antares Minerals saw strong gains following the release of a preliminary eco-
+
+
+
+
+
+
+
+
+
+
-
-
-
-
-
-
-
-
-
-
6.28
4.35
3.56
2.83
2.16
1.79
1.39
1.23
1.21
1.02
1.53
1.43
1.17
1.03
0.90
0.68
0.37
0.36
0.30
0.29
J U LY 1 9 - 2 3
nomic assessment (PEA) for its Haquira
copper-molybdenum-gold project in southern Peru. The PEA outlined a mine with a
net present value of US$1.07 billion, producing 4.25 million lbs. copper, 5 million lbs.
moly and 27,000 oz. gold a year for 20
years. The 130,000-tonnes-per-day operation has an after-tax internal rate of return
of 16.4% using a long-term copper price
of US$2.25 per lb. and a discount rate of 8%.
Shares were up 30¢ to $2.59.
Creso Exploration continued to see significant stock activity and price swings as
the company released preliminary results
from its Minto gold project in Ontario. It
shares gained 9¢ or 20.4% to close at 58¢, on
9.1 million trades. The company, which
changed its name from Willowstar Capital
TSX-V most active issues
VOLUME
(000s) HIGH
Terrane Metals TRX
Sidon Intl Res SD
KWG Res
KWG
Cons Spire Vnt CZS
Admiral Bay Rs ADB
Canaco Res
CAN
Chris James Gl CJG
Creso Expl
CXT
Canadn Arrow CRO
Ashburton Vent ABR
63420
20321
16262
15269
14783
11105
9123
9066
8031
6499
1.38
0.16
0.13
0.05
0.03
1.74
0.09
0.62
0.04
0.09
WEEK
LOW CLOSE CHANGE
1.33
0.09
0.10
0.02
0.01
1.48
0.05
0.44
0.03
0.07
1.38 +
0.12 +
0.13 +
0.05 +
0.02 +
1.66 +
0.08 +
0.58 +
0.04
0.09 +
0.03
0.02
0.01
0.01
0.01
0.10
0.01
0.08
0.00
0.01
in June, has extended two holes on its property. The extension of hole 2, which earlier
hit 65.7 metres of 18.2 grams gold and 79.6
metres of 4.61 grams gold, hit a further 7.6
metres grading 5.82 grams gold at 423 metres depth; the extension of hole 1 still
awaits assaying.
The first three reported holes in a 10,000metre drill program helped propel Premium Exploration’s shares up 12.5¢ or
38.5% to 45¢. The company is working
through a drill program on its Friday-Petsite
gold project in central Idaho, with the latest
results extending the strike length by 200
metres in the Lower Block. Drill results included 203 metres grading 0.98 gram gold
from surface, 275 metres carrying 1.84
grams gold from 14.6 metres and 157.9 metres of 2.23 grams gold from 221 metres
depth.
TSX-V greatest percentage change
VOLUME
(000s) HIGH
Admiral Bay Rs
Bison Gold Res
Metropolitn Mg
Avanti Mng
Mainstream Mnl
Gold Summit
Tournigan Engy
Taku Gold
Eureka Res
Augen Capital
Mazorro Res
Star Uranium
Silver Spruce
Savant Expl
Mesa Uran
Intl Northair
Tumi Res
Killdeer Mnls
Knick Expl
Galantas Gold
ADB
BGE
MNZ
AVT
MJO
GSM
TVC
TAK
EUK
AUG
MZO
SUV
SSE
SVT
MSA
INM
TM
KMI
KNX
GAL
14783
1635
274
5817
206
123
1468
1542
22
179
420
22
1811
259
51
345
31
107
15
1343
0.03
0.17
0.15
0.16
0.08
0.11
0.19
0.33
0.09
0.06
0.10
0.04
0.05
0.09
0.28
0.08
0.13
0.14
0.22
0.04
TSX-V greatest value change
WEEK
LOW CLOSE CHANGE
VOLUME
0.01
0.10
0.13
0.09
0.06
0.09
0.10
0.20
0.09
0.04
0.08
0.03
0.04
0.06
0.18
0.06
0.10
0.10
0.20
0.03
Rare Elemnt Rs
Quest Rare Mnl
Clifton Star
Antares Minls
Hana Mng
Maudore Minls
Fission Energy
Mayen Mnls
Premium Expl
Andean Am Mng
Centurion Mnls
Bear Creek Mng
Eurasian Minls
Orko Silver
St Elias Mns
Grayd Res
Avino Silver
Mesa Uran
Spanish Mtn Gd
Foundation Res
0.02
0.14
0.15
0.16
0.08
0.11
0.17
0.32
0.09
0.06
0.08
0.03
0.04
0.06
0.23
0.07
0.10
0.10
0.22
0.03
+100.0
+ 75.0
+ 66.6
+ 60.0
+ 60.0
+ 57.1
+ 54.5
+ 52.3
+ 50.0
+ 50.0
- 46.6
- 40.0
- 33.3
- 33.3
- 32.3
- 30.0
- 28.5
- 28.5
- 26.6
- 25.0
RES
QRM
CFO
ANM
HMG
MAO
FIS
MYM
PEM
AAG
CTN
BCM
EMX
OK
SLI
GYD
ASM
MSA
SPA
FDN
U.S. MARKETS
U.S. equities were looking a little rosier during the July 19-23 trading week. The Dow
Jones industrial average climbed 326.73
points or 3.24% to close at 10,424.62, while
the S&P 500 index advanced 37.78 points or
3.55% to finish at 1,102.66.
The Nasdaq rose 90.42 points or 4.15% to
2,269.47. The Philadelphia Gold and Silver
index added 6.03 points or 3.6% to finish at
173.42. The price of gold edged down slightly
from its open in New York on July 19 at
US$1,193 per oz. to close on July 23 at
US$1,189.70 per oz.
Strong second-quarter and half-year results sent Freeport-McMoRan Copper &
Gold’s shares soaring US$11 to US$71.08
per share, and making it the second most actively traded stock of the week. Net income
in the second quarter reached US$649 million, or US$1.40 per share, up from US$588
million, or US$1.38 per share, in the second
quarter of 2009. Net income for the first six
months was US$1.5 billion compared to
US$631 million for the first half of 2009.
News that Kinross Gold was selling its
9% stake in the Diavik diamond mine to
2764152
485160
21080805
21739
1640860
122676
4409928
5819626
178387
4131206
15319
4985083
1142045
1517904
166774
50769
87517
418525
344718
360030
701099
739271
783514
502878
341174
49608
550968
58900
5928541
2875884
304082
860360
128164
443565
467954
115450
59000
50908
2043735
242260
WEEK
CLOSE CHANGE
3.07
2.69
4.11
2.59
1.56
3.54
0.63
0.84
0.45
0.69
1.48
3.60
1.70
1.33
1.32
0.79
0.71
0.23
0.38
0.32
+
+
+
+
+
+
+
+
+
+
-
-
-
-
-
-
-
-
-
-
0.66
0.57
0.46
0.30
0.23
0.19
0.16
0.13
0.13
0.13
0.21
0.20
0.17
0.15
0.15
0.13
0.11
0.11
0.10
0.09
J U LY 1 9 - 2 3
Harry Winston Diamond for US$220
million sent Harry Winston shares down
US$1.04 to US$12.58. Harry Winston will pay
Kinross US$50 million in cash, 7.1 million in
shares valued at US$100 million, and a
US$70-million note. Kinross also announced
it was selling 15.2 million Harry Winston
shares through a block trade to a group of
financial institutions.
Cliffs Natural Resources gained
US$9.35 to US$55.90 per share. On July 19,
the company announced it had increased its
ownership stake in Spider Resources to
about 81.8%, up from 52.1%. Cliffs has ex-
U.S. most active issues
VOLUME
(000s) HIGH
WEEK
LOW CLOSE CHANGE
Alcoa*
AA
Freeport McMo*FCX
Vale*
VALE
Cliffs Nat Rs* CLF
Newmont Mng*NEM
Barrick Gold* ABX
Mosaic*
MOS
Teck B*
TCK
Peabody Enrgy* BTU
Hecla Mining* HL
131348
82216
39415
37119
36885
35672
30638
30027
29911
28561
10.31
60.01
24.43
45.18
56.27
40.58
43.20
30.94
41.37
4.52
11.12
71.38
27.80
56.37
59.62
42.83
47.10
35.92
45.56
4.98
11.05
71.08
27.72
55.90
59.05
42.37
46.80
35.66
45.43
4.95
+ 0.64
+11.00
+ 3.38
+ 9.35
+ 0.15
+ 0.62
+ 2.04
+ 4.02
+ 3.62
+ 0.25
tended its offer of 19¢ per Spider share until
July 26. The junior’s main asset is a 26.5% interest in the Big Daddy chromite project in
the McFaulds Lake area of northern Ontario.
Cliffs now has effective control of 73.5% of
Big Daddy, (Cliffs’ directly held 47% interest
and Spider’s 26.5% interest).
The end of a 12-month strike at Vale’s operations in Sudbury and Port Colborne, Ont.,
drove the company’s shares up US$3.38
to US$27.72 apiece. Unionized employees
voted yes to a five-year collective agreement.
U.S. greatest percentage change
Tornado Gold*
National Coal*
Global Gold*
Mesabi Trust*
Caledonia Mng*
Mechel*
Petaquilla Mn*
Augusta Res*
Cliffs Nat Rs*
Freeport McMo*
Shoshone Silv*
Grandview Gld*
Elray Res*
Canarc Res*
Tombstone Exp*
Strata O&G*
Am Engy Field*
Pac Rim Minin*
Li3 Energy*
New Jersey Mg*
VOLUME
(000s) HIGH
TOGI
NCOC
GBGD
MSB
CALVF
MTL
PTQMF
AZC
CLF
FCX
SHSH
GVGDF
ELRA
CRCUF
TMBXF
SOIGF
AEFI
PMU
LIEG
NJMC
221
359
80
950
306
6979
972
285
37119
82216
150
50
129
13
726
587
20
286
386
152
0.02
1.14
0.14
24.22
0.06
22.33
0.51
1.73
56.37
71.38
0.13
0.05
0.05
0.06
0.08
0.23
0.46
0.18
0.45
0.22
WEEK
LOW CLOSE CHANGE
0.01
0.71
0.06
18.85
0.05
17.79
0.34
1.43
45.18
60.01
0.09
0.05
0.04
0.06
0.05
0.15
0.30
0.16
0.38
0.11
0.02
1.04
0.14
24.21
0.05
22.23
0.46
1.73
55.90
71.08
0.09
0.05
0.05
0.06
0.06
0.19
0.40
0.17
0.40
0.22
+100.0
+ 52.9
+ 40.0
+ 28.7
+ 25.0
+ 22.0
+ 21.0
+ 20.9
+ 20.0
+ 18.3
- 25.0
- 16.6
- 16.6
- 14.2
- 14.2
- 13.6
- 13.0
- 10.5
- 9.0
- 8.3
U.S. greatest value change
VOLUME
WEEK
CLOSE CHANGE
Freeport McMo* FCX
Cliffs Nat Rs*
CLF
Rio Tinto*
RTP
BHP Billi-BHP* BHP
BHP Billi-BBL*
BBL
Mesabi Trust*
MSB
Alpha Nat Res* ANR
OM Group*
OMG
Teck B*
TCK
Mechel*
MTL
Harry Winston* HWD
Pan Am Silver* PAAS
Allied Nevada* ANV
Alliance Rs P*
ARLP
Seabridge Gld* SA
AngloGold Ash* AU
Harmony Gold* HMY
Richmont Mine* RIC
Mines Managem*MGN
Nevsun Res*
NSU
71.08
55.90
51.95
71.67
60.70
24.21
39.28
27.61
35.66
22.23
12.58
23.20
16.49
47.37
26.66
39.95
10.02
4.17
1.61
3.54
82215875
37119364
16429489
22083564
12457770
949647
18220217
1525070
30026991
6978700
358800
5558527
853900
578826
2519637
8826583
11996988
171465
258798
1507650
+11.00
+ 9.35
+ 6.19
+ 6.14
+ 5.67
+ 5.40
+ 5.29
+ 4.19
+ 4.02
+ 4.02
- 1.04
- 0.79
- 0.76
- 0.70
- 0.54
- 0.46
- 0.29
- 0.19
- 0.14
- 0.13
THE NORTHERN MINER AUGUST 2-8, 2010 7
STOCK TABLES
MINING STOCKS listed on
NORTH AMERICAN EXCHANGES
Trading: July 19 - July 23, 2010
Stock
(100s)
Exc Volume
Week
High
Low
Last Change
12-month
High Low
Stock
A
Abacus Mng&Ex V 18489
Abbastar Res V 2600
Abcourt Mines V 6270
Aberdeen Intl
T 2336
Abitex Res
V 1245
Abitibi Mng
V
800
Acadian Mng
T 5433
Acrex Vent
V
870
Actus Mnls
V
200
Adanac Moly
T 10173
Adex Mining
V 7959
Admiral Bay Rs V 147832
Adriana Res
V 2674
Adroit Res
V
0
Advanced Expl V 4676
Advanced Prima V
236
Adventure Gold V 4040
Aeroquest Intl T
408
Affinity Gold*
Q
679
Afri-Can Marin V 9541
African Aura M V
20
African Gold G V 3735
African Metals V 7195
African Queen V
362
Africo Res
T
43
Agnico-Eagle* N 108190
Agnico-Eagle
T 40759
Agrium*
N 30500
Agrium
T 41312
Aguila Am Res V
3
Alamos Gold
T 16532
Alberta Star D V 1081
Alberta Star * Q
333
Alcoa*
N 1313475
Alder Res
V 8493
Alderon Res
V 3446
Aldershot Res V 4615
Aldridge Minls V
66
Aldrin Res
V 2894
Alexandria Mnl V 5560
Alexco Res
T 1713
Alexco Res*
X 5491
Alexis Minls
T 83811
Alhambra Res V 4995
Alix Res
V 15815
Allana Res
V 16706
Alliance Rs P* Q 5788
Allied Gold
T 1388
Allied Nevada T 15179
Allied Nevada* X 8539
Almaden Mnls* X 4672
Almaden Mnls T 1669
Alpha Gold
V
280
Alpha Nat Res* N 182202
Altai Res
V
838
Altair Vent
V 2659
Altima Res
V 2962
Altius Mnrls
T 1753
Alto Vent
V 31590
Altoro Gold
V 2534
Alturas Minls
V
821
Alum Cp China* N 10906
Alumina Inc*
N 17262
Am Cons Minls V 35493
Am Creek Res V 2019
Am Engy Field* Q
203
AM Gold
V 2579
Amador Gold
V 48826
Amanta Res
V 2450
Amarc Res
V 1029
Amarillo Gold V
322
Amato Expl
V 1080
Amazon Goldsd* Q
52
Amazon Mng
V 2268
America West* Q
745
American Bonan T 6119
American Manga V 4975
Amerigo Res
T 3425
Amerix Pr Mtls V 1795
Amex Expl
V
535
AMI Res
V
220
Amseco Expl
V 3000
Anaconda Mng T 2705
Anatolia Minls T 23522
Andean Am Mng V 28758
Andean Res
T 225863
AndeanGold
V
141
Andina Mnls
V 2465
Andover Vent
V 2095
Anfield Nickel V
188
Anglo Swiss
V 5037
Anglo-Can Uran V
565
AngloGold Ash* N 88265
Animas Res
V 1750
Anooraq Res* X 6459
Anooraq Res
V 1327
Ansell Capital V
700
Antares Minls V 5028
Antioquia Gold V 2947
Anvil Mining
T 14706
Apella Res
V 6173
Apogee Minls V 2677
Apolo Gold*
Q
245
Apoquindo Mnls V 2051
Appalaches Res V 2886
0.23
0.09
0.09
0.38
0.12
0.02
0.04
0.05
0.08
0.04
0.10
0.03
0.37
0.07
0.21
0.15
0.16
0.53
0.04
0.08
1.25
0.31
0.22
0.34
0.80
58.62
60.77
61.13
63.48
0.05
14.93
0.42
0.40
11.12
0.35
1.10
0.03
0.54
0.69
0.18
3.32
3.14
0.17
0.39
0.02
0.37
49.74
0.33
18.09
17.39
0.97
1.00
0.09
39.75
0.38
0.09
0.05
10.18
0.06
0.19
0.11
21.69
5.67
0.25
0.10
0.46
0.35
0.02
0.15
0.45
0.74
0.20
0.26
1.49
0.12
0.17
0.22
0.74
0.05
0.22
0.11
0.15
0.29
6.12
0.74
3.78
0.17
1.21
0.25
3.05
0.22
0.09
40.64
0.33
1.00
1.05
0.11
2.70
0.25
3.02
0.13
0.08
0.02
0.72
0.06
0.17
0.08
0.07
0.35
0.10
0.01
0.04
0.05
0.05
0.03
0.09
0.01
0.28
0.07
0.17
0.12
0.13
0.48
0.04
0.07
1.25
0.28
0.19
0.32
0.80
54.13
57.13
57.00
60.25
0.05
14.10
0.40
0.38
10.31
0.28
1.05
0.03
0.52
0.56
0.16
3.06
2.90
0.14
0.35
0.01
0.32
46.60
0.31
16.90
16.19
0.86
0.90
0.08
33.24
0.34
0.06
0.04
9.91
0.05
0.14
0.10
18.97
5.07
0.17
0.09
0.30
0.32
0.01
0.12
0.38
0.71
0.15
0.25
1.39
0.09
0.15
0.17
0.71
0.05
0.18
0.09
0.09
0.25
5.50
0.55
3.07
0.14
1.12
0.23
3.00
0.17
0.07
38.55
0.27
0.93
0.98
0.11
2.31
0.22
2.71
0.12
0.07
0.02
0.65
0.05
0.20 + 0.03
0.08 0.00
0.09 + 0.02
0.36 - 0.03
0.12 0.00
0.01 0.00
0.04 0.00
0.05 0.00
0.05 - 0.01
0.04 0.00
0.10 0.00
0.02 + 0.01
0.32 - 0.05
0.07 0.00
0.17 - 0.01
0.15 0.00
0.16 + 0.02
0.53 + 0.03
0.04 0.00
0.08 0.00
1.25 0.00
0.30 0.00
0.19 - 0.04
0.34 + 0.02
0.80 + 0.02
57.28 + 1.28
59.38 + 0.23
60.77 + 2.13
62.96 + 1.02
0.05 0.00
14.84 + 0.16
0.42 0.00
0.39 + 0.01
11.05 + 0.64
0.35 + 0.03
1.10 0.00
0.03 0.00
0.52 - 0.13
0.65 0.00
0.17 - 0.01
3.25 + 0.08
3.14 + 0.13
0.15 - 0.02
0.37 - 0.01
0.01 0.00
0.37 + 0.01
47.37 - 0.70
0.32 0.00
17.10 - 1.03
16.49 - 0.76
0.96 + 0.07
0.98 + 0.05
0.09 + 0.01
39.28 + 5.29
0.34 - 0.03
0.09 + 0.01
0.04 0.00
9.96 - 0.09
0.06 0.00
0.16 - 0.01
0.11 0.00
21.58 + 2.47
5.67 + 0.63
0.19 - 0.05
0.09 0.00
0.40 - 0.06
0.33 0.00
0.02 0.00
0.15 + 0.02
0.45 + 0.04
0.72 - 0.06
0.15 - 0.01
0.25 - 0.10
1.42 0.00
0.10 + 0.01
0.16 0.00
0.22 + 0.02
0.73 0.00
0.05 + 0.01
0.22 + 0.01
0.09 0.00
0.10 -0.00
0.29 + 0.05
5.56 - 0.11
0.69 + 0.13
3.40 + 0.36
0.17 + 0.04
1.12 - 0.09
0.23 0.00
3.05 0.00
0.20 - 0.02
0.07 0.00
39.95 - 0.46
0.32 + 0.01
0.98 + 0.01
1.00 - 0.01
0.11 0.00
2.59 + 0.30
0.23 + 0.02
2.97 + 0.17
0.13 + 0.01
0.07 0.00
0.02 0.00
0.70 - 0.04
0.06 0.00
0.38
0.37
0.22
0.52
0.22
0.05
0.10
0.09
0.14
0.16
0.19
0.12
0.72
0.15
0.27
0.52
0.22
0.85
6.25
0.29
1.49
0.95
0.55
0.74
1.49
74.00
77.32
73.76
74.60
0.10
17.61
1.27
1.25
17.60
0.46
2.75
0.08
1.79
0.99
0.29
4.45
4.09
0.49
0.62
0.10
0.60
52.45
0.45
23.74
22.92
1.39
1.42
0.15
55.70
0.94
0.23
0.19
11.34
0.09
0.27
0.25
34.26
7.74
0.29
0.39
1.04
0.50
0.14
0.17
0.72
1.06
0.93
0.50
3.00
0.25
0.22
0.49
0.98
0.08
0.56
0.22
0.21
0.34
6.14
0.74
3.78
0.90
2.18
0.38
3.75
0.48
0.14
47.52
1.30
1.78
1.80
0.40
3.12
0.69
4.27
0.35
0.17
0.04
1.10
0.12
0.14
0.08
0.07
0.25
0.10
0.01
0.03
0.03
0.05
0.03
0.08
0.001
0.24
0.05
0.14
0.11
0.09
0.34
0.03
0.07
0.56
0.12
0.07
0.28
0.70
49.64
53.16
39.55
43.25
0.04
8.53
0.36
0.32
9.81
0.12
0.05
0.02
0.52
0.22
0.05
2.05
1.85
0.14
0.08
0.01
0.16
32.15
0.24
8.59
7.79
0.59
0.65
0.05
28.56
0.25
0.06
0.04
5.56
0.03
0.09
0.10
18.17
4.76
0.04
0.09
0.23
0.12
0.01
0.06
0.17
0.50
0.15
0.12
0.32
0.05
0.06
0.10
0.41
0.04
0.14
0.06
0.04
0.15
2.01
0.19
1.56
0.10
1.05
0.17
1.80
0.17
0.06
34.11
0.22
0.72
0.78
0.10
1.00
0.12
1.56
0.10
0.05
0.01
0.51
0.05
(100s)
Exc Volume
Appleton Expl
Aquila Res
Arch Coal*
Archon Mineral
Arco Res
Arctic Star Di
Arcturus Res
Arcus Dev Grp
Arehada Mining
Argentex Mng*
Argentex Mng
Argex Silver C
Argonaut Expl
Argonaut Gold
Argus Metals
Arian Silver
Armadillo Res
Armistice Res
Artha Res
ASA (Bermuda)*
Ascot Res
Ashburton Vent
Asia Now Res
AsiaBaseMetals
Asian Minl Res
Astorius Res
Astral Mining
Atac Res
Atacama Min
Athabasca Mnls
Atna Res Ltd
Atocha Res
ATW Gold
AuEx Vent
Augen Capital
Augen Gold
Augusta Res
Augusta Res*
Augyva Mng
Aura Mnls
Aura Silver Rs
Aurcana Corp
Aurion Res
Aurizon Mines
Aurizon Mines*
Avalon Rare Mt
Avanti Mng
Avino Silver
Avion Res
Avnel Gold
Axmin Inc
Azimut Expl
Azteca Gold
V
T
N
V
V
V
V
V
T
Q
V
V
V
T
V
V
V
T
V
N
V
V
V
V
V
V
V
V
V
V
T
V
V
T
V
V
T
X
V
T
V
V
V
T
X
T
V
V
V
T
V
V
V
3530
2583
255584
35
2053
23530
3
6838
307
1892
1706
9390
255
494
12973
15285
645
457
3216
2627
2069
64991
150
600
105
650
113
5058
1615
480
4674
1540
17281
2218
1785
560
16078
2849
103
17370
2523
10795
675
12344
13707
10618
58168
590
10843
470
7958
1371
4479
Week
High
Low
0.10
0.31
22.69
1.50
0.05
0.04
0.09
0.28
0.14
0.60
0.64
0.28
0.18
2.59
0.12
0.12
0.09
0.26
0.10
26.80
0.90
0.09
0.24
0.16
0.14
0.07
0.26
1.95
0.50
0.24
0.53
0.09
0.08
3.45
0.06
0.17
1.78
1.73
0.20
3.76
0.19
0.23
0.25
5.21
5.02
2.74
0.16
0.80
0.47
0.20
0.08
0.65
0.05
0.08
0.28
19.31
1.50
0.05
0.04
0.09
0.25
0.14
0.53
0.55
0.22
0.18
2.32
0.10
0.10
0.09
0.23
0.09
25.33
0.76
0.07
0.19
0.16
0.14
0.07
0.23
1.83
0.50
0.21
0.48
0.08
0.05
3.17
0.04
0.15
1.50
1.43
0.20
3.32
0.09
0.22
0.25
5.00
4.73
2.27
0.09
0.71
0.45
0.18
0.07
0.55
0.04
Last Change
0.09 -
0.31 +
22.54 +
1.50
0.05
0.04
0.09 +
0.26 +
0.14 -
0.59
0.60 -
0.27 +
0.18
2.45 -
0.10
0.10 -
0.09 -
0.24 -
0.09 -
26.41 +
0.80 -
0.09 +
0.19 -
0.16 -
0.14
0.07 -
0.26 +
1.89 -
0.50
0.24 +
0.50 -
0.08 -
0.06 -
3.17 -
0.06 +
0.16 +
1.77 +
1.73 +
0.20
3.67 +
0.16 -
0.22 -
0.25 +
5.17 +
4.93 +
2.70 +
0.16 +
0.71 -
0.46 -
0.20 -
0.07 -
0.59 -
0.04
0.01
0.01
2.89
0.00
0.00
0.00
0.03
0.02
0.01
0.00
0.01
0.04
0.00
0.15
0.00
0.01
0.01
0.03
0.01
0.21
0.08
0.01
0.05
0.01
0.00
0.01
0.02
0.07
0.00
0.02
0.02
0.02
0.01
0.27
0.02
0.01
0.29
0.30
0.00
0.18
0.01
0.01
0.03
0.12
0.14
0.39
0.06
0.11
0.03
0.01
0.01
0.06
0.00
12-month
High Low
Stock
0.35
0.45
28.52
1.94
0.12
0.09
0.10
0.30
0.36
1.01
1.12
0.50
0.30
3.75
0.25
0.21
0.25
0.53
0.25
28.79
1.02
0.17
0.38
0.50
0.23
0.20
0.68
2.06
0.84
0.35
0.91
0.20
0.67
3.81
0.13
0.26
3.78
3.61
0.34
5.17
0.60
0.47
0.41
5.98
5.85
4.24
0.32
0.99
0.83
0.29
0.17
0.92
0.19
Brett Res
Brigadier Gold
Brigus Gold
Brigus Gold*
Brilliant Mng
Brionor Res
Britannica Res
Buenaventura*
Bullion Monar*
0.08
0.17
15.73
0.95
0.03
0.03
0.01
0.08
0.07
0.53
0.55
0.12
0.08
0.90
0.08
0.05
0.07
0.12
0.08
20.01
0.25
0.05
0.13
0.13
0.08
0.07
0.20
0.45
0.38
0.15
0.48
0.08
0.05
2.42
0.04
0.06
1.30
1.30
0.06
2.31
0.06
0.09
0.15
3.76
3.46
1.74
0.09
0.49
0.27
0.10
0.06
0.40
0.04
B
B2Gold
Bacanora Mnls
BacTech Mining
Baffinland Irn
Baja Mng
Bandera Gold
Bannerman Res
Banro Res
Banro Res*
Bard Vent
Barker Mnrls
Barrick Gold*
Barrick Gold
Bayfield Vent
Bayswater Uran
BCM Res
BE Res
Bear Creek Mng
Bear Lake Gold
Beaufield Res
Beeston Ent*
Bellhaven Cp&G
Belmont Res
Belvedere Res
Benton Res
Berkley Res
BHP Billi-BBL*
BHP Billi-BHP*
Big Red Diam
BioteQ Env
Bison Gold Res
Bitterroot Res
Black Bull Res
Black Panther
Blackstone Res
Blue Note Mng
Blue Sky Uran
BMO Jr Gld ETF
Bold Vent
Bolero Res
Boliden AB
Bonanza Res
Bonaventure En
Bonterra Res
Bowmore Expl
Boxxer Gold
Bralorne Gold
Bravada Gold
Bravo Gold
BRC DiamondCr
Breakwater Res
T
V
V
T
T
V
T
T
X
V
V
N
T
V
V
V
V
V
V
V
Q
V
V
V
V
V
N
N
V
T
V
V
V
V
V
V
V
T
V
V
T
V
V
V
V
V
V
V
V
T
T
137352
570
2960
15910
8308
122
697
21172
3132
851
3420
356722
122618
2071
1455
300
1705
8603
4782
3255
46385
2900
1458
2566
805
60
124577
220835
5135
1065
16352
4057
1480
105
1160
7363
7079
819
1720
4182
6
177
2683
4986
407
7940
1018
969
9459
6810
8077
1.63 1.41 1.58 +
0.29 0.23 0.29 +
0.06 0.05 0.06
0.41 0.35 0.37 -
0.80 0.71 0.79 +
0.19 0.16 0.19
0.35 0.31 0.35 -
2.06 1.84 1.90 -
1.98 1.78 1.82 -
0.06 0.05 0.06
0.04 0.03 0.04 +
42.83 40.58 42.37 +
44.50 42.84 43.86 -
0.41 0.36 0.39 +
0.46 0.36 0.45 +
0.14 0.13 0.13
0.33 0.28 0.32 +
3.85 3.60 3.60 -
0.20 0.17 0.20 +
0.13 0.11 0.12 +
0.00 1.0E8 0.00
0.24 0.20 0.23 +
0.05 0.04 0.04
0.15 0.12 0.14 +
0.45 0.38 0.43 +
0.05 0.05 0.05
60.79 54.88 60.70 +
71.80 65.35 71.67 +
0.06 0.05 0.06
0.78 0.68 0.71 +
0.17 0.10 0.14 +
0.05 0.05 0.05
0.02 0.01 0.01
0.19 0.18 0.19
0.06 0.05 0.06
0.10 0.09 0.09 -
0.28 0.24 0.24 -
15.60 15.07 15.60 -
0.22 0.16 0.17 -
0.24 0.18 0.24 +
12.36 12.00 12.36 -
0.02 0.02 0.02
0.01 0.01 0.01
0.09 0.08 0.09 +
0.58 0.53 0.58
0.14 0.12 0.13
1.10 1.02 1.02 -
0.17 0.14 0.17 +
0.17 0.16 0.17
0.10 0.06 0.06 -
3.02 2.50 2.88 +
0.11
0.01
0.00
0.02
0.09
0.00
0.01
0.12
0.12
0.00
0.01
0.62
0.14
0.03
0.08
0.00
0.03
0.20
0.02
0.01
0.00
0.01
0.00
0.02
0.01
0.00
5.67
6.14
0.00
0.01
0.06
0.00
0.00
0.00
0.00
0.01
0.01
0.01
0.02
0.06
0.19
0.00
0.00
0.01
0.00
0.00
0.08
0.01
0.00
0.01
0.32
1.92
0.45
0.09
0.77
0.97
0.33
1.32
3.37
3.20
0.17
0.09
48.02
50.53
0.58
2.15
0.23
0.45
5.38
0.30
0.19
0.02
0.40
0.12
0.26
0.77
0.12
71.27
83.20
0.10
1.56
0.39
0.18
0.04
0.28
0.35
0.30
0.94
17.55
0.30
0.69
16.10
0.06
0.04
0.68
1.09
0.17
1.20
0.32
0.67
0.21
5.20
0.63
0.19
0.05
0.35
0.45
0.10
0.23
1.67
1.61
0.05
0.03
32.17
35.50
0.10
0.36
0.05
0.16
1.61
0.15
0.10
0.001
0.05
0.01
0.05
0.32
0.03
48.86
58.16
0.03
0.38
0.07
0.05
0.01
0.14
0.05
0.07
0.15
12.57
0.07
0.16
9.50
0.01
0.01
0.08
0.41
0.04
0.65
0.14
0.16
0.04
2.09
(100s)
Week
Exc Volume
High
Low
V 5207
V
455
T 13674
X 4514
V
477
V
262
V
158
N 27713
Q 1227
4.15
0.14
1.27
1.23
0.05
0.18
0.05
40.32
0.65
3.90
0.10
1.21
1.11
0.04
0.17
0.05
37.06
0.56
Last Change
12-month
High Low
Stock
Commerce Grp* Q
Commerce Res V
Compass Mnls* N
Compliance Eny V
Condor Res
V
Confedertn Mls V
Conquest Res V
Cons Abaddon R V
Cons Fortress V
Cons Spire Vnt V
Cons Thomp Irn T
Consol Energy* N
Constant Mtl R V
Constittn Mng* Q
Contintl Gold
T
Contintl Mnls
V
Contintl Mnls* Q
Contintl Nickl
V
Contl Precious T
Conway Res
V
Cooper Mnls
V
Copper Canyon V
Copper Fox Mtl V
Copper Mtn Mng T
Copper One
V
Copper Ridge V
Coral Gold
V
Corex Gold
V
Cornerstone C* Q
Cornerstone Ca V
Coro Mining
T
Corona Gold
T
Corriente Res T
Corsa Capital V
Cortez Gold
V
Cream Mnrls
V
Crescent Gold T
Crescent Res V
Creso Expl
V
Creston Moly
V
Crew Gold
T
Crocodile Gold T
Crosshair E&M* X
Crosshair E&Mg T
Crowflight Mnl T
Crystallex In*
X
Crystallex Int
T
Cue Res
V
Curlew Lke Res V
Currie Rose Rs V
Cypress Dev
V
D Arianne Res V
Dajin Res
V
Dalton Res Ltd V
Darnley Bay
V
Decade Res
V
Dejour Enterp T
Dejour Enterp* X
Deloro Res
V
Delta Uranium V
Denison Mines T
Denison Mines* X
Dentonia Res V
Detour Gold
T
Dia Bras Expl V
Diadem Res
V
Diagnos
V
Diamcor Mng V
Diamond Expl V
Diamond Fields T
Diamond Frank V
Diamonds North V
Dianor Res
V
Dios Expl
V
Discovery Vent V
Ditem Explor
V
DNI Metals
V
Dolly Varden R V
Donner Metals V
Dorato Res
V
Dorex Minls
V
Dot Res
V
Douglas Lk Ml* Q
DRDGOLD*
Q
Duluth Metals T
Dundarave Res V
Dundee Mines V
Dundee Prec Mt T
Duran Vent
V
Dynacor Gold M T
Dynasty Gold V
Dynasty Met&Mn T
E-Energy Vent V
Eagle Hill Exp V
Eagle Plains
V
Eaglecrest Ex V
East Asia Mnls V
Eastern Platin T
Eastfield Res
V
Eastmain Res T
ECU Silver Mng T
Edgewater Expl V
El Capitan Pr* Q
El Nino Vent
V
4.05 +
0.10 -
1.27 +
1.22 +
0.05
0.17 -
0.05
39.59 +
0.64 -
0.06
0.01
0.02
0.03
0.00
0.01
0.00
1.27
0.01
4.19
0.35
2.48
2.36
0.13
0.29
0.16
42.69
0.97
0.76
0.10
1.12
1.05
0.03
0.09
0.04
23.84
0.32
27.00 +
0.04 +
0.19
0.30 -
0.16 -
0.05
0.05 +
0.12
1.40 -
0.12 -
24.64 +
25.52 +
0.25 -
1.66 +
0.39 +
0.58 +
0.04
0.05
0.06
0.44
0.37
0.01
0.10
0.06 -
0.06 -
0.14 +
0.09
0.34 +
0.70
0.04 -
0.03
0.07 -
0.12 -
0.07
0.23 +
0.12
3.85 +
2.47 +
1.14 -
1.10 -
0.22 +
0.03
0.01
0.29
0.34 -
0.06 +
0.14 +
0.05
0.05 -
0.20 +
0.14 -
0.19 +
0.14
0.04
2.51 +
13.61 +
14.48 -
15.01 -
48.20 -
0.09
1.48 -
0.47 -
2.14 +
0.02
0.49 +
0.16
0.81 -
0.09
7.45 -
0.42
0.75
0.08 +
1.40 +
0.11 -
1.03 -
1.06 -
0.25 -
55.90 +
4.11 +
1.59 -
0.35 -
0.08 -
0.14 +
0.11
15.47 +
16.01 +
0.20 -
0.05
0.65 -
6.60 -
0.85 +
0.12 -
0.16 -
0.08 -
0.31
1.68
0.01
0.00
0.06
0.01
0.00
0.01
0.00
0.07
0.02
0.65
0.20
0.01
0.10
0.09
0.08
0.00
0.00
0.00
0.00
0.00
0.00
0.00
0.02
0.01
0.03
0.00
0.04
0.00
0.01
0.00
0.01
0.01
0.00
0.03
0.00
0.06
0.14
0.06
0.02
0.01
0.00
0.00
0.00
0.03
0.01
0.04
0.00
0.01
0.01
0.01
0.01
0.00
0.00
0.10
0.13
0.05
0.30
1.53
0.00
0.21
0.04
0.12
0.00
0.07
0.00
0.03
0.00
0.07
0.00
0.00
0.01
0.15
0.03
0.03
0.04
0.02
9.35
0.46
0.01
0.01
0.01
0.01
0.00
1.08
0.86
0.01
0.00
0.03
0.25
0.09
0.01
0.01
0.01
0.00
34.00
0.06
0.45
0.61
0.25
0.10
0.10
0.25
2.40
0.27
33.74
35.00
0.49
1.79
0.40
0.89
0.12
0.14
0.25
2.45
0.56
0.08
0.23
0.20
0.20
0.41
0.16
0.61
1.20
0.13
0.06
0.20
0.50
0.18
0.32
0.70
4.52
3.30
1.66
1.62
0.23
0.08
0.03
0.47
0.46
0.19
0.25
0.11
0.14
0.28
0.26
0.28
0.25
0.12
2.64
15.10
15.50
16.15
54.12
0.40
1.95
0.87
2.54
0.06
0.50
0.45
1.45
0.14
10.00
0.70
1.96
0.09
2.74
0.55
1.38
1.46
0.70
76.17
8.25
2.75
1.10
0.62
0.16
0.25
24.86
25.79
0.37
0.08
1.62
8.68
0.85
0.31
0.35
0.23
0.43
14.76
0.02
0.15
0.20
0.10
0.05
0.04
0.09
0.66
0.10
20.70
21.64
0.23
0.06
0.24
0.26
0.03
0.05
0.03
0.41
0.22
0.01
0.09
0.06
0.06
0.06
0.04
0.29
0.46
0.03
0.03
0.06
0.12
0.06
0.13
0.10
2.48
2.05
1.02
0.93
0.11
0.01
0.01
0.23
0.12
0.05
0.05
0.03
0.05
0.08
0.05
0.09
0.09
0.03
1.42
5.98
11.44
12.46
39.17
0.09
0.10
0.11
1.40
0.01
0.10
0.15
0.23
0.05
3.91
0.12
0.71
0.05
1.18
0.11
0.54
0.61
0.15
23.67
1.85
0.30
0.13
0.05
0.05
0.08
12.10
13.20
0.12
0.03
0.09
2.47
0.12
0.10
0.14
0.07
0.09
C
Cabot Corp*
N
Cadillac Mng
V
Cadillac Vent
V
Caerus Res
V
Caldera Res
V
Caledonia Mng T
Caledonia Mng* Q
Calibre Mng
V
Callinan Mns
V
Calypso Uran V
Cameco Corp* N
Cameco Corp T
Camino Mnls
V
Canaco Res
V
Canada Fluorsp V
Canada Lithium T
Canadn Arrow V
Canadn Mining V
Canadn Orebods V
Canadn Shield V
Canadn Zinc
T
Canaf Group
V
CanAlaska Uran V
Canarc Res
T
Canarc Res*
Q
Canasia Indust V
Canasil Res
V
Candente Coppr T
Candente Gold T
Candorado Oper V
Cangold
V
Canstar Res
V
Canterra Mnls V
Cantex Mn Dev V
Canuc Res
V
Capella Res
V
Capital Gold
T
Capstone Mng T
Cardero Res
T
Cardero Res* X
Cariboo Rose V
Carlin Gold
V
Carmax Expl
V
Carpathian Gld T
Cartier Res
V
Cascade Res V
Cascadero Copp V
Cascadia Res V
Castillian Res V
Castle Res
V
Catalyst Coppr V
Cavan Vent
V
Cedar Mtn Expl V
Celeste Copper V
Centamin Egypt T
Centerra Gold T
Central Fund* X
Central Fund
T
Central Gold-T T
Central Res
V
Centurion Mnls V
Century Mining V
CGA Mining
T
Chalice Diam
V
Challenger Dev V
Champion Bear V
Champion Minls V
Channel Res
V
Chesapeake Gld V
Chilean Gold
V
China Shen Zh* X
Chris James Gl V
CIC Energy
T
Claim Post Res V
Claude Res*
X
Claude Res
T
Cliffmont Res V
Cliffs Nat Rs*
N
Clifton Star
V
Cline Mng
T
Cloudbreak Res V
Coalcorp Mng T
Coastport Cap V
Cobalt Coal
V
Coeur d Alene* N
Coeur d Alene T
Cogitore Res
V
Colibri Res
V
Colombian Mins V
Colossus Minls T
Colstar Vent
V
Columbia Yukon V
Columbus Gold V
Columbus Silv V
Commander Res V
27671
4720
655
1363
125
1641
3062
14587
926
1130
66825
41939
5983
111047
5027
19634
80313
2538
195
403
3505
400
6293
1847
130
30292
1542
8979
2594
2065
1745
735
4204
2871
1806
2890
656
31080
835
1507
1045
2000
4920
6566
530
11270
1200
3
1212
1666
28774
105
175
1975
91640
19015
38922
3447
153
100
3040
13506
24169
5025
2156
375
4912
5262
279
290
115
91231
7133
490
6671
7444
632
371193
7835
57189
1096
27871
10848
600
86103
546
250
22
1931
7428
255
1370
912
5652
4307
27.13
0.04
0.20
0.33
0.17
0.06
0.06
0.12
1.46
0.13
24.81
25.74
0.26
1.74
0.40
0.62
0.04
0.05
0.06
0.44
0.38
0.01
0.10
0.08
0.06
0.14
0.09
0.34
0.75
0.05
0.03
0.09
0.14
0.07
0.23
0.12
3.86
2.49
1.20
1.14
0.22
0.03
0.01
0.31
0.35
0.06
0.14
0.05
0.06
0.20
0.15
0.19
0.16
0.04
2.52
13.70
14.68
15.25
49.47
0.09
1.71
0.52
2.14
0.02
0.49
0.17
0.84
0.09
7.65
0.43
0.75
0.09
1.43
0.12
1.06
1.11
0.26
56.37
4.27
1.65
0.38
0.09
0.15
0.12
15.52
16.10
0.22
0.05
0.68
6.85
0.85
0.15
0.18
0.08
0.33
25.05
0.03
0.19
0.30
0.16
0.05
0.05
0.10
1.38
0.12
23.58
24.87
0.25
1.48
0.32
0.49
0.03
0.05
0.06
0.44
0.34
0.01
0.09
0.06
0.06
0.10
0.07
0.29
0.65
0.04
0.03
0.06
0.12
0.07
0.19
0.10
3.71
2.15
1.14
1.08
0.15
0.03
0.01
0.29
0.31
0.05
0.10
0.05
0.05
0.17
0.12
0.17
0.14
0.03
2.38
12.68
14.24
14.94
48.20
0.09
1.38
0.47
1.95
0.01
0.40
0.16
0.70
0.08
7.45
0.33
0.72
0.05
1.21
0.11
1.02
1.06
0.23
45.18
3.45
1.44
0.35
0.05
0.13
0.11
14.02
14.82
0.20
0.04
0.62
6.50
0.76
0.12
0.15
0.07
0.31
(100s)
Week
Exc Volume
High
Low
56
3325
4079
1535
1796
900
230
3510
745
152687
71704
217969
940
20599
4962
4706
1976
287
1928
2087
650
600
11107
29063
1650
711
6261
1455
97
1540
2642
85
229
145
705
107
461
5891
90655
2710
22273
21833
1484
4780
17898
22706
73323
3450
1550
800
19979
0.04
0.27
78.00
0.25
0.31
0.09
0.15
0.05
0.10
0.05
7.87
39.83
0.16
0.86
3.40
1.94
1.87
0.44
0.43
0.05
0.10
0.23
0.31
2.79
0.19
0.23
0.38
0.70
0.12
0.14
0.36
0.46
8.59
0.52
0.31
0.08
0.13
0.03
0.62
0.19
0.29
1.33
0.13
0.14
0.14
0.43
0.44
0.06
0.07
0.04
0.15
0.02
0.25
74.77
0.22
0.25
0.08
0.13
0.05
0.09
0.02
6.76
34.62
0.14
0.75
3.20
1.74
1.67
0.38
0.37
0.05
0.06
0.20
0.28
2.33
0.17
0.22
0.28
0.67
0.11
0.12
0.31
0.42
8.57
0.50
0.26
0.07
0.10
0.02
0.44
0.17
0.25
1.23
0.12
0.12
0.12
0.37
0.39
0.05
0.05
0.04
0.12
1322
233
49
13319
6075
1089
580
180
2750
30153
4843
215
13744
36949
2571
1041
2590
873
630
6921
6903
43303
599
300
2828
314
130
12038
5700
100
358
1758
2104
8860
299
6036
6230
7477
792
5
1881
1110
8208
4201
246
4172
88768
1100
2126
17461
586
3846
5557
0.13
0.15
0.10
0.39
0.38
0.35
0.34
0.16
0.02
1.28
1.23
0.05
24.05
0.21
0.17
0.34
0.33
0.05
0.19
0.12
0.22
0.08
0.29
0.16
0.05
0.14
0.20
0.27
0.67
0.17
0.06
0.15
4.28
1.63
0.57
0.04
4.25
0.14
0.29
0.03
3.52
0.05
0.23
0.13
0.42
5.99
0.97
0.05
1.23
0.60
0.95
0.50
0.04
12-month
Last Change
High Low
0.04
0.25 -
77.71 +
0.23
0.26 -
0.09
0.13
0.05
0.10 +
0.05 +
7.86 +
39.02 +
0.14 -
0.83 +
3.30 +
1.93 -
1.87
0.42
0.41 -
0.05
0.06 +
0.22 +
0.28 -
2.76 +
0.17 -
0.22 -
0.35 +
0.67 -
0.11 +
0.12
0.34 +
0.42 -
8.59
0.50 -
0.26 -
0.08
0.13 +
0.03
0.58 +
0.18
0.28 +
1.29
0.12 -
0.12 -
0.14 +
0.43 +
0.44 +
0.05 -
0.06 -
0.04
0.12 +
0.00
0.01
2.49
0.00
0.03
0.00
0.00
0.00
0.02
0.01
0.76
3.93
0.01
0.09
0.05
0.01
0.00
0.00
0.01
0.00
0.01
0.04
0.01
0.24
0.01
0.01
0.06
0.02
0.01
0.00
0.02
0.04
0.00
0.03
0.04
0.00
0.01
0.00
0.08
0.00
0.01
0.00
0.01
0.01
0.01
0.05
0.02
0.01
0.01
0.00
0.01
0.16
0.82
82.65
0.44
0.48
0.20
0.25
0.14
0.22
0.06
10.32
58.00
0.41
1.92
3.50
2.48
2.43
1.20
1.47
0.08
0.10
0.41
0.44
3.58
0.63
0.90
1.00
1.06
0.18
0.19
0.73
0.55
8.59
0.85
0.78
0.14
0.28
0.38
0.70
0.35
0.90
2.40
0.30
0.32
0.25
0.77
0.82
0.14
0.09
0.20
0.28
0.02
0.20
46.56
0.14
0.10
0.08
0.12
0.05
0.05
0.02
3.56
32.25
0.14
0.60
0.21
0.99
0.85
0.34
0.37
0.03
0.04
0.13
0.09
1.11
0.17
0.21
0.28
0.27
0.05
0.05
0.18
0.35
5.63
0.44
0.16
0.06
0.08
0.02
0.28
0.09
0.10
0.44
0.10
0.10
0.12
0.19
0.21
0.05
0.01
0.04
0.11
0.13
0.15 -
0.10
0.38 +
0.38 -
0.35 +
0.34 +
0.16 -
0.02
1.26 +
1.23 +
0.04
24.00 +
0.20 +
0.17 +
0.31 -
0.32
0.04
0.17 -
0.09 -
0.20 +
0.08
0.28 -
0.16
0.05
0.12
0.20 +
0.24 -
0.64
0.17
0.06 -
0.15 +
4.21 +
1.61 +
0.57 +
0.04
4.19 -
0.14 -
0.25 -
0.02 -
3.45 +
0.04
0.21 -
0.13 +
0.34 -
5.85 +
0.96 +
0.05 +
1.19 -
0.58 -
0.95 +
0.47 +
0.04
0.00
0.02
0.00
0.10
0.03
0.02
0.05
0.02
0.00
0.05
0.09
0.00
0.37
0.01
0.04
0.04
0.00
0.00
0.02
0.01
0.02
0.00
0.03
0.00
0.00
0.00
0.02
0.03
0.00
0.00
0.01
0.01
0.07
0.11
0.05
0.00
0.04
0.01
0.02
0.01
0.04
0.00
0.01
0.01
0.02
0.09
0.02
0.01
0.04
0.02
0.10
0.01
0.00
0.22
0.31
0.21
0.64
1.72
0.65
0.64
0.27
0.10
2.32
2.16
0.08
24.94
0.28
0.28
0.54
0.45
0.22
0.30
0.25
0.40
0.12
0.38
0.20
0.09
0.24
0.31
0.37
1.35
0.20
0.21
0.49
9.00
3.99
0.74
0.19
5.16
0.22
0.40
0.12
6.38
0.10
0.62
0.26
0.75
8.73
1.72
0.14
1.75
0.93
1.12
0.76
0.17
0.10
0.04
0.06
0.10
0.06
0.24
0.21
0.11
0.01
1.15
1.09
0.01
8.81
0.09
0.03
0.07
0.17
0.04
0.04
0.04
0.12
0.05
0.12
0.15
0.04
0.12
0.18
0.17
0.35
0.08
0.04
0.11
4.00
0.47
0.25
0.03
1.81
0.05
0.15
0.02
2.95
0.04
0.09
0.11
0.34
1.01
0.46
0.04
1.03
0.46
0.06
0.07
0.04
D-F
0.12
0.14
0.10
0.27
0.35
0.31
0.29
0.16
0.01
1.17
1.10
0.04
22.75
0.20
0.12
0.30
0.29
0.04
0.17
0.09
0.17
0.06
0.25
0.16
0.04
0.12
0.20
0.22
0.55
0.17
0.06
0.14
4.00
1.41
0.52
0.03
4.03
0.12
0.25
0.02
3.34
0.04
0.20
0.11
0.34
5.40
0.89
0.04
1.15
0.56
0.88
0.43
0.04
METALS, MINING AND MONEY MARKETS
SPOT PRICES
PRODUCER AND DEALER PRICES
COURTESY OF SCOTIABANK
Antimony: Mid-mkt US$9,233.33 /t.
Bismuth: Mid-mkt US$8.55/lb.
Cadmium: Mid-mkt US$1.94/lb.
Coal: EIA Central Appalachian thermal, US$67.85/T; Powder
River Basin thermal, US$14.05/T; Northern Appalachian,
US$62.75; US EIA Sept. metallurgical, US$156.65/t. CME
Group Central Appalachian Coal Futures Aug. 2010:
US$67.08; Sept. 2010: US$67.92
Cobalt: Recent trades US$18.25-21.90/lb.
Copper: Comex Copper Futures Aug. 2010: US$3.206/lb.;
Comex Sept. 2010: $3.206/lb.
Indium: Indium Corp., ingot, US$566.66/kg.
Iridium: Mid-mkt US$712.50/tr. oz.
Magnesium: Mid-mkt US$2,900.00/t.
Manganese: Mid-mkt US$2,750.00/t.
Mercury: Mid-mkt US$983.33/flask (76 lb.).
Molybdenum: Oxide, recent trades US$14.00-14.50/lb.
Rhodium: Mid-mkt US$2,200.00/tr. oz.
Ruthenium: Mid-mkt US$192.50/tr. oz.
Selenium: Mid-mkt US$37.33/lb.
Silver: Base: US$17.65; Fabricated: US$21.18; Sterling:
US$16.37
Tantalum: Ta2O5 ore, mid-mkt US$39.50/lb.
Tin: Kuala Lumpur Tin Market, US$19.07/kg.
Tungsten: WO3 ore, mid-mkt US$14,685.00/t
Uranium: U3O8, Uranium Exchange Co. spot price US$41.75/
lb.; Trade Tech spot price US$43.50/lb.
Ferrovanadium: Free Market V2O5, recent trades US$6.006.35/lb.
Tuesday, July 27, 2010
Precious Metals
Gold
Price (US$/oz.)
Change
$1184.00
+2.50
$18.16
-0.61
Platinum
$1558.00
+47.00
Palladium
$476.00
+31.00
Silver
Base Metals
Price (US$/lb.)
Change
Nickel
$9.43
+0.87
Lead
$0.91
+0.10
Copper
$3.23
+0.26
Zinc
$0.88
+0.05
LME WAREHOUSE LEVELS
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, July 27, 2010 (change from July 20 in
brackets):
Aluminium Alloy
Aluminium
Copper
Lead
Nickel
Tin
Zinc
67720
4399775
413800
183175
115950
15150
620300
(-260)
(-17325)
(-5800)
(-2600)
(-2256)
(-680)
(+1375)
Prices current July 27, 2010
FOR DAILY MINING NEWS, VISIT WWW.NORTHERNMINER.COM
DAILY METAL PRICES
Date
July 26
July 23
July 22
July 21
BASE METALS(London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne)
Al Alloy
2035/2035
2070/2020
2110/2040
2020/1985
Aluminum
2021/2040.50
2008.50/2024
2006.50/2025
1975.50/1995
Copper
6995.50/7027
6995/7021
6920.50/6942
6771/6791
Lead
1960/1980
1930.50/1953.50
1894/1915
1844/1868
Nickel
20415/20515
20380/20500
19825/19875
19215/19325
Tin
19235/19270
18635/18700
18395/18400
18280/18325
Zinc
1883.50/1917.50
1891/1921
1902.50/1930
1869/1900
1995/1952
1930.50/1952
6526/6548
1762/1783
18810/18865
17925/17950
1810/1837
PRECIOUS METAL PRICES (London fix, US$ per troy oz.)
Gold AM
1189.00
1198.75
Gold PM
1183.50
1190.50
Silver
18.01
18.17
Platinum
1546.00
1541.00
Palladium
477.00
468.00
1181.50
1183.00
17.55
1502.00
438.00
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.$
1187.00
1199.50
17.82
1519.00
453.00
1191.25
1191.50
17.88
1524.00
453.00
July 20
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
8 AUGUST 2-8, 2010 THE NORTHERN MINER
Stock
(100s)
Exc Volume
Week
High
Low
15.22
16.06
0.02
1.25
0.06
0.04
0.08
0.22
0.14
0.12
2.09
3.30
3.14
0.05
0.20
2.00
0.16
2.05
2.15
4.15
0.26
0.07
0.20
0.05
1.23
0.38
0.41
1.68
0.09
0.11
6.81
0.05
0.19
0.77
0.12
0.73
5.44
5.75
0.06
0.41
0.46
2.52
5.95
9.35
0.27
0.10
0.36
4.80
0.35
0.11
0.07
0.63
0.07
0.08
0.28
3.69
0.01
0.10
0.45
0.11
59.00
0.35
0.87
0.02
0.48
0.10
0.07
2.10
0.41
0.78
1.46
0.11
1.99
0.60
0.08
0.32
0.21
30.02
0.24
0.05
60.01
0.09
6.08
5.75
0.17
Eldorado Gold*
Eldorado Gold
Electra Gold
Elgin Mng
Eloro Minls
Elray Res*
EMC Metals
Emerick Res
Emgold Mng
Encanto Potash
Endeavour Finl
Endeavr Silver
Endeavr Silvr*
Endurance Gold
Energizer Res
Energold Drill
Energy Fuels
Entree Gold*
Entree Gold
Equinox Minls
Erdene Res Dev
Erin Ventures
Eskay Mng
ESO Uranium
Esperanza Silv
Ethos Cap
Etruscan Res
Eurasian Minls
Eureka Res
EurOmax Res
Europn Goldfld
Everett Minls
Everton Res
Evolving Gold
Excel Gold Mng
Excellon Res
Exeter Res*
Exeter Res
Expedition Mng
Explor Res
Explorator Res
Extorre Gold M
Extract Res
Faircourt Gold
Fairmont Res
Falkirk Res
Fancamp Expl
Far West Mng
Farallon Res
Fieldex Expl
Finlay Minrls
Fire River Gol
Firesteel Res
Firestone Vent
First Gold Exp
First Majestic
First Metals
First Nickel
First Point
First Pursuit
First Quantum
First Star Res
First Uranium
Fischer-W Gld*
Fission Energy
Fjordland Exp
Focus Metals
Foraco Intl
Foran Mng
Formation Mtls
Forsys Metals
Fortress Mnls
Fortuna Silver
Fortune Mnrls
Forum Uranium
Foundation Res
Fox Res
Franco-Nevada
Franconia Mnls
Freegold Vent
Freeport McMo*
Freeport Res
Fronteer Gold
Fronteer Gold*
Full Metal Mnl
N
T
V
T
V
Q
T
V
V
V
T
T
X
V
V
V
T
X
T
T
T
V
V
V
V
V
T
V
V
V
T
V
V
V
V
T
X
T
V
V
V
T
T
T
V
V
V
T
T
V
V
V
V
V
V
T
T
T
V
V
T
V
T
Q
V
V
V
T
V
T
T
V
T
T
V
V
V
T
T
T
N
V
T
X
V
33834
125304
290
2689
4725
1290
5796
255
692
5842
5713
2544
1646
1335
3175
2226
5497
11365
3003
99509
1441
1880
2469
1317
1694
1718
27550
1281
223
1225
8907
13550
12941
23345
22465
7537
2770
7230
194
3415
1170
6842
43
65
250
274
1628
352
12630
1040
310
28763
324
368
15332
5919
6283
3750
2879
200
27641
3113
42048
25
5509
1673
807
289
279
1118
12205
1365
6713
520
9769
2422
100
20540
9329
1161
822158
120
14688
13928
3706
16.30
16.90
0.02
1.33
0.09
0.05
0.10
0.22
0.19
0.14
2.23
3.53
3.42
0.06
0.25
2.12
0.20
2.30
2.41
4.69
0.30
0.08
0.25
0.05
1.34
0.44
0.43
1.95
0.09
0.11
7.49
0.06
0.22
0.82
0.15
0.76
5.93
6.19
0.08
0.46
0.48
2.77
6.10
9.60
0.30
0.12
0.41
5.00
0.40
0.13
0.09
0.72
0.09
0.09
0.32
3.99
0.01
0.12
0.51
0.11
68.73
0.43
1.08
0.05
0.63
0.14
0.09
2.35
0.43
0.97
1.86
0.12
2.14
0.66
0.09
0.40
0.21
31.97
0.29
0.06
71.38
0.09
6.48
6.17
0.19
G4G Res
Gabriel Res
Galahad Mtls
Galantas Gold
Galena Capital
Galloway Enrg*
Galore Res
Galway Res
Gammon Gold
Garibaldi Res
Garrison Intl
Genco Res
General Moly*
Geo Minerals
Geocom Res*
Geodex Mnrls
Geologix Ex
Georox Res
Geovic Mng
Geovic Mng*
Getty Copper
GGL Res
Ginguro Expl
Gitennes Expl
Glass Earth
Global Gold*
Global Hunter
Global Minls
Global Ur Fund
Global Uran
Globestar Mng
Globex Mng
GMV Minerals
Gobimin
Golconda Res
Gold Bulln Dev
Gold Canyon
Gold Fields*
Gold Port Res
Gold Reserve
Gold Reserve*
Gold Summit
Gold Wheaton G
Gold World Res
Gold-Ore Res
Goldbank Mng
Goldbrook Vent
Goldcliff Res
Goldcorp
Goldcorp*
Golden Alli Rs
Golden Arrow R
Golden Band
V
T
V
V
V
Q
V
V
T
V
V
T
X
V
Q
V
T
V
T
Q
V
V
V
V
V
Q
V
V
T
V
T
T
V
V
V
V
V
N
V
T
X
V
T
V
T
V
V
V
T
N
V
V
V
890
14142
1454
13429
1090
181
3127
7496
19574
944
3460
28200
18138
3588
2501
12343
17038
1453
4722
1169
7060
1217
455
280
694
796
130
1868
330
262
1304
132
985
329
1671
32762
2716
189571
4340
333
856
1225
7994
1198
3240
11
4896
834
103466
224592
276
1783
15250
0.20
4.99
0.04
0.04
0.05
0.01
0.22
0.84
5.95
0.14
0.10
0.30
3.31
0.06
0.02
0.08
0.28
0.16
0.62
0.60
0.09
0.04
0.40
0.07
0.31
0.14
0.03
0.14
2.10
0.19
0.96
1.53
0.14
0.80
0.05
0.53
0.28
13.22
0.09
0.90
0.88
0.11
2.38
0.05
0.57
0.15
0.23
0.08
42.88
41.25
0.78
0.36
0.34
Last Change
12-month
High Low
Stock
(100s)
Exc Volume
Week
High
Low
Last Change
0.13
0.05
0.04
0.09
0.15
0.17
0.06
0.53
7.51
0.06
0.33
0.03
0.50
1.29
0.15
0.05
4.06
3.83
0.25
0.25
0.05
0.08
0.33
0.61
0.02
0.12
0.07
0.12
0.80
1.21
0.44
0.09
0.18
4.82
0.12
0.05
0.05
0.05
0.75
1.79
0.69
0.84
0.17
0.12
0.03
3.44
0.25
0.31
0.09
0.15
6.49
0.11
0.08
0.07
0.03
1.33
0.24
0.24
9.72
12.76
12.25
0.14
0.10
1.57
0.07
0.08
0.71
4.52
0.35
0.63
0.15
0.75
0.06
0.05
0.05
0.05
13.56
12.27
0.09
0.12
11.40
0.50
0.30
0.03
0.04
12-month
High Low
Stock
Kent Expl
Kermode Res
Kettle River
Khan Res
Killdeer Mnls
Kilo Goldmines
Kimber Res
Kimber Res*
Kings Bay Gold
Kingsman Res
Kinross Gold
Kinross Gold*
Kirkland Lk Gd
Kirrin Res
Kiska Metals
Kivalliq Enrgy
Klondex Mns
Klondike Gold
Klondike Silv
Knick Expl
Knight Res
Kodiak Expl
Kokanee Mnls
Kootenay Gold
Kria Res
KWG Res
V
V
V
T
V
V
T
X
V
V
T
N
T
V
V
V
T
V
V
V
V
V
V
V
V
V
La Mancha Res
La Quinta Res
Labdr I-Ore Ro
Labdr Iron Mns
Lake Shore Gld
Lake Vict Mng*
Lakewood Mng
Landdrill Int
Lara Expl
Laramide Res
Largo Res
Lateegra Gold
Latin Am Mnls
Laurion Mnl Ex
Leeward Capitl
Legend Intl H*
Lexam Explor
Li3 Energy*
Liberty Mines
Lincoln Mng
Linux Gold*
Lithic Res
Lithium Americ
Lithium One
Logan Copper
Logan Res
Lomiko Res
Loncor Res
Lorraine Coppr
Los Andes Copp
Lounor Expl
Lovitt Res
Lucara Diam
Luiri Gold
Lumina Copper
Luna Gold
Lund Gold
Lundin Mng
Lydian Intl
16.30 + 0.41 19.07 9.03
16.90 + 0.14 19.73 9.82
0.02 0.00 0.08 0.02
1.30 - 0.01 1.65 0.48
0.09 + 0.01 0.22 0.06
0.05 - 0.01 0.40 0.02
0.09 - 0.01 0.28 0.07
0.22 - 0.01 0.50 0.20
0.19 + 0.04 2.00 0.12
0.12 - 0.02 0.34 0.12
2.12 - 0.10 2.85 1.35
3.45 - 0.01 4.57 1.90
3.34 + 0.06 4.46 1.75
0.05 0.00 0.29 0.05
0.23 + 0.03 0.50 0.15
2.07 + 0.02 2.82 1.67
0.19 + 0.03 0.38 0.13
2.19 + 0.04 3.49 1.15
2.28 - 0.02 3.59 1.26
4.64 + 0.49 4.69 2.47
0.28 - 0.01 0.70 0.19
0.08 + 0.01 0.14 0.04
0.25 + 0.06 0.38 0.08
0.05 0.00 0.10 0.04
1.31 + 0.06 1.95 0.75
0.41 0.00 0.79 0.17
0.43 0.00 0.61 0.20
1.70 - 0.17 2.80 1.12
0.09 + 0.03 0.35 0.06
0.11 0.00 0.55 0.11
7.24 + 0.07 7.80 2.79
0.05 0.00 0.13 0.04
0.22 + 0.03 0.32 0.14
0.77 - 0.03 1.94 0.69
0.12 + 0.01 0.15 0.04
0.75 - 0.04 1.25 0.30
5.87 + 0.13 8.30 1.96
6.08 + 0.01 8.35 2.40
0.06 - 0.01 0.09 0.04
0.43 - 0.01 1.62 0.21
0.46 - 0.01 0.73 0.19
2.74 + 0.07 3.25 1.30
6.05 - 0.40 10.65 5.60
9.60 + 0.25 10.44 7.33
0.27 + 0.01 0.40 0.17
0.12 + 0.02 0.25 0.07
0.40 0.00 1.03 0.30
4.99 - 0.01 6.00 1.76
0.39 + 0.02 0.65 0.27
0.11 0.00 0.29 0.06
0.07 - 0.02 0.14 0.02
0.67 - 0.05 0.75 0.34
0.09 + 0.01 0.14 0.04
0.09 0.00 0.20 0.08
0.29 - 0.02 1.03 0.07
3.97 + 0.13 4.58 2.12
0.01 0.00 0.04 0.001
0.10 + 0.01 0.17 0.09
0.48 - 0.03 1.08 0.06
0.11 0.00 0.28 0.09
67.78 + 6.28 100.32 48.20
0.38 - 0.03 0.50 0.16
0.89 - 0.19 4.20 0.87
0.05 0.00 0.07 0.02
0.63 + 0.16 1.20 0.15
0.11 - 0.03 0.16 0.06
0.09 + 0.01 0.15 0.05
2.30 + 0.02 3.08 1.22
0.41 - 0.09 0.57 0.08
0.93 + 0.12 2.52 0.65
1.84 + 0.30 6.70 1.40
0.11 - 0.01 0.51 0.10
2.11 -0.00 3.01 0.90
0.65 + 0.03 1.04 0.50
0.09 + 0.01 0.24 0.06
0.32 - 0.09 0.90 0.13
0.21 0.00 0.35 0.12
31.69 + 0.47 34.40 25.37
0.25 - 0.02 0.79 0.18
0.05 - 0.01 0.17 0.05
71.08 + 11.00 90.55 54.45
0.09 + 0.01 0.15 0.05
6.28 - 0.18 7.27 3.75
6.01 - 0.10 7.08 3.42
0.19 + 0.01 0.29 0.17
Golden Cariboo
Golden Chalice
Golden Dawn Ml
Golden Dory Rs
Golden Goliath
Golden Goose
Golden Harp
Golden Hope
Golden Mnls
Golden Odyss M
Golden Peaks
Golden Phoen*
Golden Predatr
Golden Queen
Golden Reign R
Golden Share M
Golden Star
Golden Star*
Golden Tag
Golden Val Min
Goldex Res
Goldeye Expl
Goldfield*
Goldgroup Mng
Goldminco
GoldQuest Mng
Goldrea Res
Goldrush Res
Goldsource Min
Goldspring*
Goldstone Res
Gossan Res
Gowest Amalg
Grande Cache C
Grande Portage
Grandview Gld*
Grandview Gld
Gray Rock Res
Grayd Res
Great Basin Go
Great Panther
Great Quest Me
Great Western
Greencastle Rs
Grenville Gold
Greystar Res
Grizzly Diamnd
Groundstar Res
Gryphon Gold
Gulfside Mnls
Guyana Gldflds
GWR Res
Habanero Res
Habanero Res*
Halo Res
Hana Mng
Happy Ck Minls
Hard Creek Ni
Harmony Gold*
Harry Winston
Harry Winston*
Harte Res
Harvest Gold
Hathor Expl
Hawk Uranium
Hawthorne Gold
Heatherdale Rs
Hecla Mining*
Helio Res
Hellix Vent
High Desert Gd
High River Gol
Highbank Res
Hinterland Mtl
Homeland Enrgy
Honey Badger E
Horizns G Bear
Horizns G Bull
Horseshoe Gld
Houston Lake
HudBay Minls
Hudson Res
Hunt Mng
Huntington Exp
HuntMountain*
V
V
V
V
V
V
V
V
T
V
T
Q
T
T
V
V
T
X
V
V
V
V
X
T
V
V
V
V
V
Q
T
V
V
T
V
Q
T
V
V
T
T
V
V
V
V
T
V
V
T
V
T
V
V
Q
V
V
V
T
N
T
N
V
V
V
V
V
V
N
V
V
V
T
V
V
T
V
T
T
V
V
T
V
V
V
Q
75
8566
6115
990
1871
748
1250
16509
187
2050
2014
6547
8477
2331
133
1055
23477
147128
2310
2618
3204
20227
2476
8064
920
3335
525
291
708
207
4046
1350
4318
82390
6077
500
1659
1500
1154
61435
7417
5858
12188
3435
3539
12780
2875
3830
1577
1079
4729
1082
6821
4
13249
3411
508
989
119969
49850
3588
32607
5265
13434
5573
16828
732
285611
2179
299
1219
13021
4505
1675
13794
530
26966
83136
7583
780
44099
1410
520
1
87
0.14
0.06
0.04
0.10
0.17
0.19
0.08
0.60
7.90
0.08
0.40
0.04
0.60
1.47
0.17
0.06
4.30
4.15
0.27
0.27
0.06
0.09
0.38
0.65
0.03
0.15
0.08
0.12
0.85
1.28
0.47
0.10
0.19
6.00
0.14
0.05
0.06
0.06
0.90
1.85
0.73
0.92
0.19
0.12
0.03
4.00
0.32
0.35
0.10
0.17
6.85
0.12
0.09
0.07
0.04
1.56
0.28
0.26
10.30
14.60
14.07
0.20
0.12
1.77
0.08
0.11
0.75
4.98
0.40
0.68
0.17
0.79
0.08
0.06
0.05
0.06
14.56
13.18
0.12
0.14
13.24
0.56
0.31
0.03
0.08
0.13 0.00
0.05 0.00
0.04 0.00
0.10 + 0.01
0.17 0.00
0.19 - 0.01
0.06 0.00
0.56 - 0.02
7.68 + 0.04
0.06 0.00
0.38 - 0.02
0.04 0.00
0.50 - 0.04
1.38 - 0.09
0.17 + 0.01
0.06 0.00
4.30 + 0.09
4.15 + 0.13
0.27 + 0.01
0.25 0.00
0.06 0.00
0.09 0.00
0.36 - 0.01
0.64 + 0.02
0.03 0.00
0.12 - 0.03
0.07 0.00
0.12 0.00
0.80 - 0.04
1.25 0.00
0.44 - 0.02
0.10 0.00
0.19 0.00
5.96 + 0.84
0.13 + 0.01
0.05 - 0.01
0.06 0.00
0.05 0.00
0.79 - 0.13
1.82 - 0.03
0.71 - 0.01
0.91 + 0.01
0.17 + 0.01
0.12 0.00
0.03 0.00
3.86 - 0.05
0.30 + 0.06
0.34 - 0.01
0.09 - 0.01
0.17 + 0.01
6.71 + 0.18
0.12 0.00
0.09 0.00
0.07 - 0.02
0.03 0.00
1.56 + 0.23
0.28 0.00
0.25 - 0.03
10.02 - 0.29
13.00 - 1.43
12.58 - 1.04
0.19 + 0.05
0.10 - 0.02
1.73 + 0.12
0.07 - 0.01
0.09 - 0.01
0.75 + 0.03
4.95 + 0.25
0.38 + 0.01
0.63 -0.00
0.16 + 0.02
0.77 - 0.03
0.08 0.00
0.06 0.00
0.05 0.00
0.05 0.00
13.84 + 0.10
12.93 - 0.11
0.10 - 0.02
0.14 0.00
13.18 + 1.39
0.53 + 0.03
0.30 - 0.08
0.03 0.00
0.04 - 0.04
0.21
0.15
0.12
0.18
0.32
0.51
0.30
0.74
15.50
0.24
1.19
0.09
0.88
1.55
0.27
0.12
5.02
4.91
0.29
0.43
0.06
0.13
0.49
1.15
0.05
0.19
0.17
0.16
2.38
3.00
1.30
0.27
0.40
8.75
0.18
0.15
0.14
0.09
1.01
2.09
1.25
1.00
0.46
0.25
0.07
7.17
0.55
0.69
0.32
1.47
8.34
0.17
0.19
0.17
0.10
2.57
0.35
0.65
12.05
14.95
14.56
0.22
0.19
2.34
0.13
0.55
1.94
7.47
0.91
1.06
0.25
0.98
0.12
0.14
0.15
0.09
29.96
17.33
0.15
0.33
17.00
1.67
0.69
0.05
0.29
0.05
0.05
0.03
0.04
0.10
0.17
0.05
0.03
3.08
0.06
0.32
0.02
0.40
0.55
0.04
0.05
2.28
2.09
0.14
0.18
0.02
0.03
0.33
0.37
0.02
0.09
0.07
0.04
0.72
1.20
0.39
0.08
0.09
2.15
0.04
0.05
0.05
0.04
0.33
1.36
0.52
0.03
0.09
0.10
0.03
3.03
0.18
0.28
0.09
0.15
3.49
0.08
0.07
0.06
0.03
0.30
0.09
0.16
8.63
5.36
4.95
0.04
0.05
1.30
0.04
0.08
0.71
2.76
0.33
0.16
0.12
0.24
0.03
0.05
0.04
0.03
11.45
9.34
0.02
0.12
7.65
0.20
0.29
0.03
0.04
0.20
4.78 -
0.04
0.03 -
0.04
0.01
0.22 +
0.77 -
5.81 +
0.14
0.10 +
0.28
3.30 +
0.06
0.02
0.07 +
0.23 -
0.15 -
0.60 -
0.59 +
0.09
0.04
0.40 +
0.07
0.29 +
0.14 +
0.03
0.12 +
2.04 +
0.17 -
0.94 -
1.46 -
0.14 +
0.80
0.04
0.49 -
0.25 -
13.11 +
0.09
0.90 -
0.88 +
0.11 +
2.37 +
0.04
0.52 -
0.15
0.23 +
0.07
42.24 -
40.74 +
0.77 -
0.36 +
0.32 +
I-Minerals
IAMGold Corp
IBC Adv Alloys
Iberian Mnls
IBI Corp
IC Potash
Iciena Vent
Icon Industrs
ICS Copper Sys
IGC Res
IMPACT Silver
Imperial Metal
Inca Pac Res
Indicator Minl
Indico Res
Indigo Expl
Infinito Gold
Inmet Mining
Inspiration Mg
Inter-Citic Mn
Intl Coal Gp*
Intl Enexco
Intl Millm Mng
Intl Minls Crp
Intl Montoro R
Intl Northair
Intl PBX Vent
Intl Samuel Ex
Intl Tower Hi*
Intl Tower Hil
Intrepid Mnrl
Intrepid Pots*
INV Metals
ISh COMEX G Tr
Island Arc Exp
Ivanhoe Mines*
Ivanhoe Mines
Ivernia
J.A.G. Mines
Jaguar Mng
James Bay Res
Jasper Mng
Jaxon Mnls
Jazz Res
Jiminex
JNR Res
Journey Res
Kalahari Res
Kaminak Gold
Katanga Mng
Keegan Res
Keegan Res*
Kenai Res
V
T
V
V
V
V
V
V
V
V
V
T
V
V
V
V
V
T
T
T
N
V
V
T
V
V
V
V
X
T
T
N
T
T
V
N
T
T
V
T
V
V
V
V
V
V
V
V
V
T
T
X
V
398
81332
5793
1968
860
1294
706
351
360
250
2902
1268
1338
1202
155
1500
1210
16408
3454
9176
89129
418
4890
854
2300
3451
1715
1632
5227
4660
23646
10488
20
865
4
108558
58196
6751
10
21733
140
55
600
5
40
1939
7975
13807
5783
34493
3080
421
49
0.22 0.20 0.22 0.00
17.34 16.13 17.15 + 0.37
0.15 0.14 0.14 0.00
0.45 0.42 0.45 + 0.02
0.01 1.0E8 0.01 0.00
0.45 0.33 0.41 + 0.06
0.03 0.03 0.03 0.00
0.14 0.10 0.10 - 0.01
0.04 0.04 0.04 + 0.01
0.03 0.03 0.03 0.00
0.94 0.87 0.87 - 0.08
17.00 15.89 16.80 + 0.48
0.22 0.19 0.19 - 0.01
0.12 0.10 0.11 0.00
0.49 0.43 0.49 + 0.05
0.19 0.16 0.18 0.00
0.27 0.21 0.21 - 0.04
50.75 45.05 48.35 + 2.16
0.28 0.24 0.25 - 0.02
1.33 1.13 1.16 - 0.16
4.63 3.95 4.61 + 0.57
0.29 0.23 0.25 0.00
0.05 0.04 0.05 0.00
4.28 4.12 4.19 - 0.11
0.04 0.04 0.04 - 0.01
0.08 0.06 0.07 - 0.03
0.20 0.17 0.19 + 0.01
0.25 0.20 0.20 -0.00
6.14 5.80 6.13 + 0.13
6.40 6.05 6.38 + 0.07
0.58 0.49 0.56 + 0.08
23.72 21.87 23.67 + 1.19
0.67 0.61 0.67 + 0.02
12.30 12.02 12.06 - 0.24
0.04 0.04 0.04 0.00
17.68 16.19 17.62 + 1.28
18.35 17.10 18.35 + 1.23
0.28 0.26 0.27 0.00
0.14 0.12 0.14 0.00
8.23 7.56 8.00 - 0.18
0.65 0.65 0.65 + 0.03
0.08 0.08 0.08 0.00
0.09 0.09 0.09 0.00
0.34 0.34 0.34 - 0.03
0.10 0.10 0.10 0.00
0.15 0.13 0.15 + 0.02
0.04 0.04 0.04 0.00
0.05 0.04 0.05 0.00
1.62 1.49 1.60 + 0.01
0.82 0.73 0.82 + 0.07
5.35 5.04 5.27 + 0.07
5.10 4.76 5.10 + 0.14
0.20 0.18 0.20 0.00
0.50
21.95
0.30
0.73
0.02
0.69
0.22
0.33
0.15
0.07
1.49
21.00
0.44
0.20
0.75
0.24
0.47
78.00
0.95
1.89
5.71
0.70
0.11
4.70
0.10
0.21
0.30
0.42
8.08
8.35
0.58
34.20
1.25
13.00
0.12
18.94
18.98
0.55
0.26
14.18
0.85
0.15
0.25
0.52
0.19
0.34
0.09
0.09
1.70
1.66
7.98
7.54
0.30
0.20
10.80
0.10
0.38
0.001
0.29
0.02
0.10
0.03
0.03
0.63
3.80
0.16
0.06
0.14
0.15
0.14
41.61
0.24
0.59
2.88
0.23
0.04
3.13
0.03
0.05
0.04
0.10
2.85
3.12
0.22
19.08
0.32
9.88
0.04
7.09
7.73
0.20
0.09
7.56
0.17
0.06
0.09
0.20
0.06
0.13
0.03
0.02
0.30
0.53
2.76
2.50
0.09
I-J-K
G-H
0.20
4.76
0.04
0.03
0.04
0.01
0.19
0.75
5.53
0.12
0.07
0.27
2.86
0.05
0.01
0.05
0.22
0.15
0.58
0.56
0.08
0.03
0.36
0.05
0.28
0.06
0.03
0.11
1.92
0.14
0.89
1.44
0.13
0.80
0.04
0.46
0.21
12.32
0.08
0.85
0.80
0.09
2.25
0.04
0.52
0.15
0.20
0.06
41.19
39.00
0.72
0.35
0.28
0.00
0.17
0.00
0.01
0.00
0.00
0.02
0.04
0.18
0.00
0.02
0.00
0.30
0.00
0.00
0.01
0.03
0.01
0.03
0.03
0.00
0.00
0.01
0.00
0.01
0.04
0.00
0.01
0.10
0.02
0.02
0.02
0.01
0.00
0.00
0.01
0.02
0.16
0.00
0.03
0.04
0.04
0.12
0.00
0.06
0.00
0.02
0.00
0.20
0.60
0.01
0.01
0.02
0.50
5.55
0.17
0.13
0.13
0.05
0.41
1.87
13.19
0.37
0.10
0.83
4.45
0.18
0.02
0.19
0.32
0.24
0.97
0.93
0.09
0.08
0.80
0.12
0.32
0.29
0.12
0.48
3.18
0.65
1.43
2.03
0.28
1.18
0.15
0.71
0.60
15.88
0.15
1.79
1.73
0.26
4.05
0.08
0.72
0.20
0.43
0.25
48.37
47.41
0.90
0.45
0.38
0.16
1.52
0.03
0.03
0.04
0.001
0.12
0.25
5.42
0.09
0.01
0.26
1.85
0.05
0.001
0.05
0.14
0.10
0.54
0.48
0.03
0.03
0.07
0.04
0.16
0.02
0.03
0.11
1.71
0.13
0.78
1.03
0.06
0.75
0.04
0.04
0.05
10.88
0.03
0.50
0.47
0.07
1.95
0.03
0.36
0.06
0.09
0.06
35.12
32.84
0.22
0.26
0.20
CANADIAN GOLD MUTUAL FUNDS
Fund name
AGF Pr Mtl
Altamira Pr & Str Mtl
BMG Bullion Fund A
BMG Bullion Fund F
BMO Pr Mtl
CIBC Pr Mtl
Dynamic Can Pr Mtl
iShares Can Gold Sector Index
London Life Pr Mtl (MX)
Mackenzie Un Pr Mtl C$
Mackenzie Un Pr Mtl US$
Mackenzie Un Wld Pr Mtl Cap
Quadrus Mack Un Pr Mtl
RBC Global Pr Mtl
Sentry Pr Mtl Growth
Sprott Gold and Pr Minls
Sprott Gold and Pr Minls F
TD Pr Mtl
July 26
($)
31.27
15.04
9.89
10.54
22.38
20.24
8.56
21.77
35.40
16.99
16.46
59.86
19.51
52.06
50.18
53.28
55.21
57.37
July 19
($)
31.40
15.04
9.97
10.63
22.64
20.32
8.55
22.38
35.18
17.02
16.47
59.97
19.55
52.32
50.38
53.44
55.35
57.73
Change
Change
($)
(%)
-0.13
-0.4
0.00
0.0
0.12
4.3
0.13
4.3
-0.26
-1.1
-0.08
-0.4
0.01
0.1
-0.61
-2.7
0.22
-0.03
-0.2
-0.01
-0.1
-0.11
-0.2
-0.04
-0.2
-0.26
-0.5
-0.20
-0.4
-0.16
-0.3
-0.14
-0.3
-0.36
-0.6
YTD
(%)
5.75
6.36
2.80
3.41
5.94
6.91
16.15
4.73
2.97
3.53
5.33
3.6
3.4
5.3
19.1
3.7
4.3
1.5
MER*
(%)
2.56
2.32
2.98
1.94
2.29
2.44
2.75
0.55
3.37
2.44
2.44
2.50
2.70
2.04
2.75
2.84
1.78
2.15
Assets*
(M$)
614.8
62.4
208.8
n/a
99.1
125.8
811.6
1255.8
158.7
456.2
n/a
93.5
48.7
1003.6
504.6
565
n/a
268
*as of June 30/10
Featured Fund:Dynamic Precious Metals as of 03/31/10 (in weighted order): Osisko Mining, San Gold, Red Back Mining, Aurizon
Mines, Agnico-Eagle Mines, Alamos Gold, Kinross Gold, Allied Nevada Gold, Eldorado Gold, Andean Resources.
Fund Manager:Robert Cohen.
(100s)
Exc Volume
Week
High
Low
4213
5375
318
24244
1070
9380
448
2534
3192
1000
159942
227657
3233
520
45134
10474
2876
20957
2751
145
9755
2572
837
1802
7417
162617
0.12
0.14
0.04
0.47
0.14
0.23
0.75
0.67
0.05
0.05
17.36
16.70
8.43
0.05
0.90
0.34
1.82
0.03
0.04
0.22
0.09
0.21
0.12
0.51
0.13
0.13
0.11
0.12
0.04
0.25
0.10
0.21
0.65
0.61
0.04
0.05
16.08
15.23
7.91
0.05
0.79
0.30
1.68
0.01
0.04
0.20
0.08
0.20
0.12
0.47
0.11
0.10
T
V
T
T
T
Q
V
V
V
T
V
V
V
V
V
Q
V
Q
T
V
Q
V
T
V
V
V
V
V
V
V
V
V
V
V
V
V
V
T
T
4634
8920
4851
3600
16772
582
80
260
664
8886
17108
5248
2009
460
8283
6038
560
3863
5752
4214
150
463
2548
3314
417
610
10043
1060
450
550
6890
130
5478
3467
396
13875
2354
270817
3391
1.66
0.05
48.19
4.35
3.18
0.35
0.03
0.15
0.71
1.05
0.19
0.33
0.14
0.06
0.03
1.03
0.41
0.45
0.17
0.22
0.05
0.10
1.25
0.90
0.10
0.05
0.04
0.75
0.05
0.12
0.09
0.46
0.80
0.18
1.29
0.68
0.05
3.99
1.25
Macarthur Mnl V
MacDonald Mns V
Macusani Yello V
Madison Minls V
Madison Minls* Q
Mag Silver
T
Mag Silver*
X
Magellan Minls V
MagIndustries T
Magma Metals T
Mainstream Mnl V
Majescor Res V
Majestic Gold V
Major Drilling
T
Mala Noche Res V
Malaga
T
Malbex Res
V
Mandalay Res T
Manicouagan Ml V
Manitou Gold
V
Mansfld Mnrls V
Manson Creek V
Mantra Res
T
Marathon PGM T
Marifil Mines
V
Marklnd AGF PM T
Massey Energy* N
Matamec Expl V
Maudore Minls V
Mawson Res
T
Max Minls
V
Max Res
V
Maxim Res
V
Maya Gold & Si V
Mayen Mnls
V
Mazarin
V
Mazorro Res
V
MBAC Fertilizr T
MBMI Res
V
715
12088
1092
2106
227
3570
513
2778
30328
3410
2060
2145
3602
1226
41357
2272
395
113
2065
175
2515
782
726
1324
4335
251
194040
640
496
1462
1596
108
5535
4949
589
508
4195
457
2332
1.69
0.19
0.20
0.09
0.09
6.68
6.45
0.74
0.30
0.50
0.08
0.23
0.09
24.04
0.27
0.13
0.35
0.34
0.05
0.36
1.55
0.06
3.96
1.60
0.06
10.25
31.39
0.14
3.54
0.49
0.40
0.16
0.05
0.22
0.85
0.03
0.10
1.65
0.21
Last Change
12-month
High Low
Stock
McVicar Res
V
MDN Inc
T
MDU Res*
N
Mechel*
N
Medallion Res V
Mediterrn Res T
Medoro Res
V
Medusa Mng
T
Mega Copper V
Mega Precs Mtl V
Mega Uranium T
Megastar Dev V
Melkior Res
V
Mengold Res
V
Merc Intl Mnls V
Mercator Mnls T
Merit Mng
V
Meritus Mnls
V
Merrex Gold
V
Mesa Uran
V
Mesabi Trust* N
Messina Minls V
Metalcorp
V
Metalex Vent
V
Metalline Mng* X
Metalore Res
T
Metals Ck Res V
Metanor Res
V
Metropolitn Mg V
Mexivada Mng V
Micrex Devel
V
Midasco Cap
V
Midland Expl
V
Midlands Minls V
Midway Gold
V
Midway Gold* X
Migao
T
Mill Bay Vent
V
Mill City Intl
V
Millrock Res
V
Millstream Min V
Minco Gold*
X
Minco Gold
T
Minco Silver
T
Mindoro Res
V
Minefinders
T
Minefinders*
X
Minera Andes T
Minera Andes* Q
MInera IRL
T
Mineral Depost T
Mineral Hill
V
Mineral Mtn Rs V
Mines Managem* X
Mines Managmnt T
Mirabela Nickl T
Miranda Gold V
Miranda Gold* Q
Mirasol Res
V
Module Res
V
Moly Mines
T
Molycor Gold
V
Moneta Porcpn T
Monument Mng V
Mosaic*
N
Mosquito Cons V
Moss Lake Gld V
Mountain Boy M V
Mountain Captl V
Mountain Lake V
Mountain Prov* X
Mountain Prov T
Mountain-Wst R V
MPH Vent
V
Mukuba Res
V
Mundoro Cap T
Murgor Res
V
Mustang Minls V
Nanika Res
V
National Coal* Q
Natural Rs Pt* N
Nautilus Minls T
Nayarit Gold
V
Nebu Res
V
Nemaska Expl V
Network Expl
V
Nevada Copper T
Nevada Expl
V
Nevada Geo Pow V
Nevada Sunrise V
Nevgold Res
V
Nevsun Res
T
Nevsun Res*
X
New Dawn Mng T
New Dimen Res V
New Global Vnt V
New Gold
T
New Gold*
X
New Guinea Gld V
New Island Res V
New Jersey Mg* Q
New Millen Cap V
New Nadina
V
New Pac Metals V
New Shoshoni V V
New World Res V
Newcastle Mnls V
0.12 +
0.12
0.04
0.35 +
0.10 -
0.22 -
0.67
0.64 +
0.04
0.05
17.05 +
16.43 +
8.30 +
0.05
0.79 -
0.33
1.73 +
0.03
0.04
0.22 -
0.08
0.21
0.12
0.47 -
0.12
0.13 +
0.01
0.00
0.00
0.12
0.04
0.02
0.00
0.01
0.00
0.00
0.45
0.72
0.27
0.00
0.07
0.00
0.03
0.00
0.00
0.08
0.00
0.00
0.00
0.03
0.00
0.01
0.25
0.16
0.07
1.08
0.44
0.73
1.83
1.80
0.14
0.08
25.22
23.91
10.96
0.17
1.26
0.55
2.12
0.07
0.09
0.43
0.18
0.84
0.20
1.25
0.39
0.15
0.08
0.05
0.03
0.17
0.10
0.19
0.54
0.45
0.04
0.04
16.08
15.23
6.25
0.05
0.54
0.11
1.15
0.01
0.04
0.16
0.04
0.19
0.10
0.47
0.07
0.03
1.62 +
0.05
48.05 +
3.92 -
3.15 +
0.30 +
0.02
0.15 +
0.70 -
0.94 +
0.19 +
0.31
0.13 +
0.05 -
0.03
0.96 +
0.39
0.40 -
0.15 -
0.19 -
0.04
0.10 -
1.20 +
0.89 -
0.09 +
0.04
0.03
0.75 +
0.05
0.12
0.09
0.46 +
0.78 +
0.18
1.26 +
0.59 -
0.05
3.92 +
1.22 -
0.02
0.00
4.35
0.29
0.08
0.01
0.00
0.01
0.02
0.13
0.02
0.00
0.01
0.01
0.00
0.05
0.00
0.04
0.01
0.01
0.00
0.01
0.01
0.01
0.01
0.00
0.00
0.05
0.00
0.00
0.00
0.04
0.03
0.00
0.01
0.03
0.00
0.34
0.03
2.25
0.12
55.80
7.65
4.37
1.49
0.06
0.20
1.10
1.98
0.34
0.50
0.33
0.10
0.05
1.60
0.77
1.12
0.38
0.34
0.11
0.49
1.87
2.03
1.05
0.10
0.19
1.60
0.09
0.17
0.20
1.35
1.20
0.40
1.65
0.81
0.14
5.77
1.57
0.74
0.01
33.26
1.36
2.48
0.21
0.01
0.07
0.55
0.71
0.09
0.19
0.10
0.03
0.02
0.57
0.32
0.03
0.15
0.14
0.02
0.05
1.04
0.73
0.05
0.03
0.03
0.60
0.04
0.08
0.06
0.15
0.44
0.07
0.66
0.34
0.04
2.91
0.40
1.63 +
0.17
0.20
0.09 +
0.09 +
6.30 -
6.07 -
0.73 +
0.30
0.41 +
0.08 +
0.22 +
0.09
24.04 +
0.25 -
0.12
0.35
0.32 +
0.05
0.36 -
1.50 +
0.05 +
3.80 +
1.60 +
0.06
10.25 +
31.25 +
0.14 +
3.54 +
0.47 +
0.38 +
0.16
0.05
0.21 +
0.84 +
0.03
0.08 -
1.63
0.19 -
0.03
0.00
0.00
0.01
0.01
0.19
0.08
0.07
0.00
0.02
0.03
0.02
0.00
1.79
0.01
0.00
0.00
0.01
0.00
0.02
0.04
0.01
0.04
0.09
0.00
0.15
3.10
0.01
0.19
0.05
0.06
0.00
0.00
0.01
0.13
0.00
0.07
0.00
0.02
2.99
0.29
0.40
0.20
0.23
8.26
8.25
1.20
0.70
0.81
0.23
0.43
0.27
30.66
0.41
0.19
1.10
0.50
0.09
0.66
1.99
0.14
6.09
2.65
0.14
10.45
54.80
0.28
4.95
0.49
0.78
0.66
0.19
0.56
0.87
0.07
0.34
3.95
0.37
0.65
0.11
0.15
0.08
0.06
4.85
4.45
0.52
0.28
0.36
0.05
0.17
0.02
19.50
0.10
0.09
0.28
0.20
0.04
0.35
0.45
0.03
3.35
0.59
0.05
6.31
20.50
0.05
2.02
0.26
0.19
0.12
0.04
0.18
0.15
0.02
0.08
1.45
0.06
L
1.50
0.04
43.50
3.80
2.99
0.23
0.02
0.12
0.68
0.81
0.16
0.28
0.12
0.05
0.02
0.88
0.38
0.38
0.15
0.18
0.04
0.09
1.04
0.85
0.08
0.04
0.03
0.65
0.05
0.10
0.06
0.46
0.74
0.18
1.25
0.58
0.05
3.41
1.21
M
1.50
0.17
0.20
0.08
0.07
6.24
6.00
0.64
0.28
0.40
0.06
0.18
0.08
22.05
0.25
0.10
0.33
0.32
0.05
0.36
1.42
0.05
3.60
1.42
0.05
10.11
26.94
0.13
3.13
0.42
0.33
0.16
0.05
0.20
0.79
0.03
0.08
1.60
0.18
(100s)
Exc Volume
Week
High
Low
86
2159
28248
69787
180
4043
37448
947
161
397
48721
3681
5207
200
1365
95393
100
5730
2115
509
9496
2100
1124
1372
3064
3
3055
13990
2740
2044
300
2330
199
3271
1415
1845
3187
50
602
2881
1615
2573
271
2941
1340
6108
18221
5683
4719
5
2924
3180
2980
2587
125
18818
2736
2304
3537
400
6215
1499
2858
12471
306382
3838
290
41795
4488
3490
508
2041
928
2090
7
1645
1010
890
0.42
0.42
19.80
22.33
0.12
0.12
0.61
3.82
0.24
0.51
0.47
0.09
0.19
0.02
0.14
1.87
0.62
0.12
0.50
0.28
24.22
0.08
0.10
0.54
0.70
7.45
0.13
0.62
0.15
0.14
0.10
0.03
1.35
0.19
0.50
0.49
6.29
0.22
0.04
0.44
0.04
0.85
0.87
3.03
0.19
9.04
8.68
0.79
0.75
0.99
0.79
0.04
0.27
1.74
1.73
2.10
0.46
0.44
1.60
0.06
0.56
0.06
0.23
0.28
47.10
1.08
0.17
0.24
0.08
0.55
2.94
3.11
0.35
0.03
0.26
0.79
0.10
0.09
0.40
0.36
18.82
17.79
0.11
0.11
0.49
3.45
0.20
0.47
0.38
0.08
0.17
0.02
0.12
1.56
0.54
0.09
0.41
0.18
18.85
0.06
0.09
0.44
0.59
7.45
0.11
0.53
0.13
0.13
0.10
0.02
1.24
0.17
0.42
0.39
6.05
0.19
0.04
0.38
0.03
0.77
0.82
2.65
0.17
8.63
8.24
0.71
0.68
0.99
0.73
0.04
0.23
1.49
1.60
1.93
0.38
0.36
1.51
0.06
0.50
0.05
0.21
0.25
43.20
0.90
0.16
0.17
0.07
0.49
2.64
2.77
0.30
0.03
0.18
0.75
0.10
0.07
3980
3591
2839
30673
1163
4706
5230
416
8297
366
7154
6955
275
11372
15076
89
1248
586
94544
103907
3257
10066
1520
12131
735
2334
3120
525
13051
0.05
1.14
25.38
2.14
0.52
0.12
0.40
0.09
2.35
0.06
0.60
0.13
0.26
3.90
3.76
1.20
0.09
0.12
5.44
5.24
0.09
0.12
0.22
0.93
0.08
0.89
0.11
0.18
0.10
12-month
Last Change
High Low
0.42 -
0.42 +
19.75 +
22.23 +
0.11 -
0.12
0.60 +
3.82 +
0.24 +
0.48 -
0.46 +
0.09 -
0.18 +
0.02
0.12 -
1.87 +
0.60 -
0.12 +
0.45 -
0.23 -
24.21 +
0.07
0.10 -
0.48
0.70 +
7.45
0.12 -
0.57 -
0.15 +
0.14 -
0.10 -
0.02
1.35 +
0.17 -
0.47 +
0.45 +
6.19 +
0.19 -
0.04
0.44 +
0.04
0.83 +
0.87 -
2.86 -
0.17 -
8.85 +
8.45 +
0.76 +
0.73 +
0.99 +
0.73 +
0.04
0.24 +
1.61 -
1.63 -
2.09 +
0.46 +
0.44 +
1.51 -
0.06 -
0.56 +
0.05 -
0.23
0.28 +
46.80 +
1.00 +
0.16
0.24 +
0.08
0.54 +
2.90 +
3.02 -
0.33 +
0.03
0.26 -
0.76 -
0.10 -
0.08 -
0.01
0.05
0.77
4.02
0.01
0.00
0.01
0.12
0.04
0.03
0.08
0.01
0.01
0.00
0.01
0.26
0.02
0.01
0.03
0.11
5.40
0.00
0.01
0.00
0.05
0.00
0.01
0.04
0.06
0.01
0.01
0.00
0.05
0.01
0.02
0.02
0.01
0.03
0.00
0.01
0.00
0.01
0.02
0.07
0.02
0.01
0.04
0.01
0.01
0.18
0.01
0.00
0.01
0.14
0.16
0.15
0.04
0.06
0.02
0.01
0.04
0.01
0.00
0.02
2.04
0.12
0.00
0.05
0.00
0.03
0.01
0.03
0.08
0.00
0.11
0.03
0.01
0.01
0.70
0.71
24.22
31.78
0.30
0.19
0.94
5.68
0.25
0.85
1.39
0.19
0.45
0.06
0.59
3.45
1.65
0.16
0.95
0.45
27.22
0.14
0.27
1.38
1.59
9.75
0.28
0.89
0.19
0.55
0.28
0.05
1.54
0.59
1.09
1.03
8.19
0.90
0.06
0.50
0.09
1.50
1.55
3.19
0.34
12.49
11.90
1.20
1.20
1.29
1.10
0.20
0.30
3.50
3.57
3.16
0.84
0.80
3.15
0.14
1.81
0.09
0.44
0.42
68.28
1.69
0.31
0.49
0.34
0.67
9.84
3.31
0.40
0.12
0.52
1.40
0.24
0.25
0.23
0.32
17.11
8.81
0.05
0.08
0.32
2.50
0.13
0.28
0.34
0.04
0.14
0.01
0.12
1.27
0.17
0.03
0.19
0.10
8.00
0.06
0.08
0.43
0.27
6.30
0.09
0.40
0.06
0.06
0.001
0.01
0.67
0.10
0.42
0.39
5.60
0.19
0.03
0.17
0.02
0.55
0.60
1.55
0.09
8.51
7.67
0.59
0.54
0.80
0.56
0.04
0.23
1.49
1.60
1.72
0.32
0.27
0.25
0.05
0.44
0.05
0.13
0.23
37.68
0.48
0.09
0.04
0.07
0.14
1.41
1.51
0.12
0.03
0.18
0.53
0.09
0.07
0.05
1.04 +
25.15 +
1.83 -
0.50 -
0.12 -
0.36 -
0.09 -
2.30 +
0.06
0.55 -
0.13 +
0.26
3.73 -
3.54 -
1.16 -
0.08 -
0.10
5.27 +
5.03 +
0.09
0.12 +
0.22 -
0.90 +
0.08 +
0.89 +
0.10 +
0.18 +
0.09
0.00
0.36
0.70
0.25
0.01
0.01
0.03
0.01
0.20
0.00
0.05
0.02
0.00
0.13
0.13
0.04
0.02
0.00
0.14
0.16
0.00
0.02
0.02
0.03
0.01
0.06
0.02
0.01
0.00
0.22
6.08
27.56
2.76
0.73
0.60
0.60
0.54
3.57
0.28
1.30
0.20
0.34
4.21
4.12
1.72
0.29
0.31
6.97
6.85
0.18
0.12
0.34
1.48
0.14
1.10
0.29
0.36
0.23
0.04
0.45
17.02
1.01
0.40
0.10
0.26
0.06
0.90
0.05
0.53
0.05
0.12
1.61
1.45
0.71
0.05
0.09
2.93
2.68
0.09
0.05
0.11
0.41
0.05
0.60
0.06
0.15
0.03
N-O
0.04
0.71
24.15
1.71
0.47
0.10
0.33
0.09
2.10
0.06
0.53
0.10
0.26
3.66
3.47
1.15
0.08
0.10
4.92
4.66
0.09
0.09
0.11
0.79
0.06
0.84
0.10
0.15
0.08
NORTH AMERICAN STOCK EXCHANGE INDICES
52-week
Date
S&P/TSX-Ven Comp
TSX Composite
S&P TSX 60
Global Gold
TSX Metals & Mining
Gold & Silver XAU
Amex Gold Bugs
July 26
1403.46
11746.67
685.87
349.84
961.92
171.82
447.33
July 23
1394.98
11714.21
683.67
355.45
959.80
173.42
451.85
July 22
1388.42
11667.76
681.17
354.57
945.02
172.34
449.89
TSX SHORT POSITIONS
July 21
1365.56
11513.33
673.15
350.00
908.62
168.69
440.70
July 20
1363.20
11629.88
681.76
354.28
894.81
169.08
445.12
High
1691.10
12321.76
723.04
395.46
1168.83
198.32
516.16
Low
1123.64
10384.64
629.22
289.69
707.43
137.56
333.23
TSX VENTURE SHORT POSITIONS
Short positions outstanding at July 15/10 (with changes from
June 30/10).
Largest short positions
Lundin Mining
LUN
20005030
2204374
Great Basin Gold GBG
19348737
1327841
Red Back Mining RBI
16777928
-916874
Equinox Minerals EQN
14599068
2485399
Silver Wheaton SLW
13479762
-1187255
Hudbay Minerals HBM
12933850
-697801
Thompson Creek
Metals TCM
12548059
357171
Eldorado Gold
ELD
9578978
-3530139
Ivanhoe Mines
IVN
9558894
-54483
New Gold
NGD
8359195
1995222
Quadra FNX Mining QUX
8232146
785823
Osisko Mining
OSK
7487740
-459784
Kinross Gold
K
6614151
-693462
Uranium One
UUU
6605622
-212826
Cameco Corporation CCO
6191346
3464479
Short positions outstanding at July 15/10 (with changes from
June 30/10).
Largest increase in short position
Cameco
CCO
6191346 Equinox Minerals EQN
14599068
Lundin Mining
LUN
20005030
New Gold
NGD
8359195 Great Basin Gold GBG
19348737
3464479
2485399
2204374
1995222
1327841
Largest increase in short position
Terrane Metals TRX
9714508
Sidon International SD
1273400
Midway Gold
MDW
890700
San Gold
SGR
3260430
KWG Resources
KWG
511349
8448858
1186100
860800
802909
409247
Largest decrease in short position
Eldorado Gold
ELD
9578978
Crystallex Inter KRY
420173
Torex Gold
TXG
231557
Barrick Gold
ABX
5121166
Iamgold
IMG
1974659
-3530139
-2892035
-2314743
-1852671
-1361407
Largest decrease in short position
Golden Dory
GDR
21500
Spider Resources SPQ
754057
Lithium One
LI
13000
Adventure Gold
AGE
0
Carlin Gold
CGD
0
-1051100
-978647
-814000
-432700
-389000
Largest short positions
Terrane Metals TRX
9714508
San Gold
SGR
3260430
Romarco Minerals R
1717600
Sidon International SD
1273400
Midway Gold
MDW
890700
Spider Resources SPQ
754057
Metanor Resources MTO
733772
Victoria Gold
VIT
568000
Taku Gold
TAK
514500
KWG Resources
KWG
511349
Andina Minerals ADM
453000
Catalyst Copper CCY
436800
Rainy River Resources RR
422900
Sandstorm Resources SSL
418316
Amerix Precious
Metals APM
406000
8448858
802909
-194000
1186100
860800
-978647
335551
500
352000
409247
58900
186800
3300
-12500
406000
THE NORTHERN MINER AUGUST 2-8, 2010 9
Stock
(100s)
Exc Volume
Week
High
Low
0.04
56.27
59.34
0.12
0.38
0.27
0.50
0.40
0.23
0.21
0.18
0.03
0.16
1.03
2.06
0.12
8.76
9.30
0.12
2.98
3.15
0.17
0.17
0.24
0.27
0.18
6.03
6.50
0.28
0.14
0.14
0.24
0.26
0.11
0.08
0.16
0.17
2.88
3.03
1.95
0.04
0.21
6.37
6.01
0.19
0.09
0.05
0.26
0.19
2.88
0.05
0.15
0.52
0.30
23.25
0.09
1.30
3.30
0.14
0.06
0.05
0.09
0.08
0.80
1.29
0.37
0.08
0.09
0.21
1.49
0.95
0.91
0.06
1.35
11.64
0.39
0.06
Newmac Res
Newmont Mng*
Newmont Mng
Newport Expl
Newstrike Cap
Newstrike Res
NGEx Res
Niocan Inc
Niogold Mng
Nitinat Mnls
NMC Res
Noble Metal Gr
Nomad Ventures
Noront Res
Norsemont Mng
Nortec Mnls
North Am En P*
North Am En Pa
North Am Gem
North Am Pall*
North Am Pall
North Am Tung
North Arrow Mn
North Atlc Res
North Country
Northern Abiti
Northern Dyn*
Northern Dyn M
Northern Freeg
Northern Gld M
Northern Lion
Northern Plat
Northern Rand
Northern Shiel
Northern Star
Northern Sup R
Northern Tiger
Northgate Mnl*
Northgate Mnls
Northland Res
Northrock Res
Novadx Vent
NovaGold Res
NovaGold Res*
Novus Gold
NQ Expl
Nuinsco Res
Nuukfjord Gold
NWT Uranium
OceanaGold
Odin Mining
Odyssey Res
Olivut Res
Olympus Pacif
OM Group*
Opawica Expl
Opta Minls
Orbit Garant D
Orbite Expl A
Oremex Res
Orestone Mng
Orex Expl
Orex Minls
Orezone Gold
Orko Silver
Oro Gold Res
Oro Silver Res
OroAndes Res
Oroco Res
Orocobre
Oromin Expl
Oromin Expl*
Orsa Vent
Orvana Mnrls
Osisko Mng
Otis Capital
Otish Energy
V
N
T
V
V
V
T
T
V
V
V
V
V
V
T
V
N
T
V
X
T
V
V
V
V
V
X
T
V
V
V
V
V
V
V
V
V
X
T
T
V
V
T
X
V
V
T
T
V
T
V
V
V
T
N
V
T
T
V
V
V
V
V
T
V
V
V
V
V
T
T
Q
V
T
T
V
V
250
368846
507
656
2939
40
800
45
3467
55
1100
2836
100
14924
86
1095
3351
86
9805
55310
7247
12210
866
1464
54159
5364
6382
1816
609
2560
2618
182
300
2036
7235
6124
4971
48870
13421
547
378
1571
23584
107017
6355
9
6962
2210
24667
22666
30
1085
1395
6457
15250
2655
203
5231
1475
7330
125
4009
13531
2253
4435
5022
3230
1052
2206
1597
7970
2396
78
9813
105648
3506
5470
0.04
59.62
62.07
0.12
0.42
0.27
0.55
0.40
0.26
0.22
0.24
0.04
0.16
1.14
2.17
0.15
9.65
10.00
0.14
3.38
3.50
0.19
0.20
0.27
0.40
0.23
6.99
7.24
0.32
0.14
0.19
0.30
0.26
0.13
0.09
0.19
0.20
3.02
3.14
2.09
0.04
0.22
6.76
6.50
0.24
0.09
0.06
0.30
0.22
3.14
0.05
0.15
0.59
0.38
27.72
0.09
1.69
3.60
0.15
0.06
0.05
0.09
0.09
0.86
1.46
0.41
0.09
0.11
0.22
1.65
1.07
1.02
0.07
1.58
12.26
0.49
0.08
Pac Bay Mnrls
Pac Booker Min
Pac Booker Mn*
Pac Coast Nikl
Pac Comox
Pac NW Cap
Pac Ridge Expl
Pac Rim Minin*
Pac Rim Mining
Pac Wildcat Re
V
V
X
V
V
T
V
X
T
V
665
231
5
2910
3289
956
828
2855
848
587
0.05
8.24
8.10
0.05
0.03
0.12
0.14
0.18
0.18
0.19
Last Change
12-month
High Low
Stock
Pachamama Res V
Paget Mnls
V
Paladin Energy T
Palladon Vent V
Pan Am Lithium V
Pan Am Silver T
Pan Am Silver* Q
Pancontl Uran V
Panorama Res V
Panoro Minls
V
Panthera Expl V
Paragon Minls V
Parallel Res
V
Paramount Gld* X
Paramount Gold T
Parlane Res
V
Passport Metal V
Patriot Coal*
N
Patriot Gold*
Q
PC Gold
T
Peabody Enrgy* N
Peat Res
V
Pebble Ck Mng V
Pediment Gold T
Pediment Gold* Q
Pelangio Expl V
Pele Mtn Res
V
Penteco Res
V
Peregrine Diam T
Peregrine Mtls T
Perseus Mng
T
Pershimco Res V
Petaquilla Mn* Q
Petaquilla Mnl T
Petro Horizon V
Petromin Res V
Philippine Mtl
V
Pinestar Gold V
Pinetree Cap
T
Pitchstone Exp V
Planet Expl
V
Platinex
V
Platinum Gp M* X
Platinum Gp Mt T
Platmin
T
Plato Gold
V
Playfair Mng
V
Plexmar Res
V
PMI Gold
V
Polaris Minls
T
Polo Res
T
PolyMet Mng* X
PolyMet Mng
T
Portal Res
V
Potash C Sask* N
Potash Cp Sask T
Potash One
T
Powertech Uran T
Premier Gold M T
Premium Expl V
Prize Mng
V
Pro Minerals
V
Pro-Or Mng Res V
Probe Mines
V
Probe Res
V
Prominex Res V
Prospctr C Res V
Prospero Silve V
Puda Coal*
X
Puget Vent
V
Puma Expl
V
Pure Nickel
T
Purepoint U
V
Q-Gold Res
V
Quantum RE Dev V
Quaterra Res* X
Quaterra Res V
Quattro Res
V
Queenston Mng T
Quest Rare Mnl V
0.04
59.05 +
61.41 -
0.12
0.39
0.27
0.54 +
0.40 -
0.24
0.21 +
0.18 -
0.03
0.16
1.08 -
2.10 +
0.12 -
9.60 +
9.95 +
0.13
3.38 +
3.47 +
0.19 +
0.18 +
0.27 +
0.37 +
0.20 -
6.97 +
7.23 +
0.29 -
0.14
0.17
0.30 +
0.26
0.12
0.08 +
0.19 +
0.19 +
2.97 +
3.12 -
2.06 +
0.04
0.21 -
6.67 -
6.42 -
0.21 -
0.09 -
0.06
0.28
0.22
3.10 +
0.05
0.15 -
0.59 +
0.37 +
27.61 +
0.09
1.64 +
3.35 -
0.14 +
0.06
0.05 +
0.09 -
0.09
0.81 -
1.33 -
0.39 +
0.09
0.11 +
0.22
1.64 +
0.95 -
0.92 -
0.07
1.51 +
11.83 +
0.43 +
0.06
0.00
0.15
0.68
0.00
0.00
0.00
0.03
0.05
0.00
0.01
0.02
0.00
0.00
0.04
0.04
0.01
0.64
0.47
0.00
0.28
0.19
0.01
0.01
0.02
0.11
0.02
0.60
0.56
0.03
0.00
0.00
0.07
0.00
0.00
0.01
0.04
0.02
0.02
0.01
0.06
0.00
0.01
0.08
0.06
0.02
0.03
0.00
0.00
0.00
0.10
0.00
0.04
0.04
0.05
4.19
0.00
0.14
0.20
0.01
0.00
0.01
0.01
0.00
0.03
0.15
0.02
0.00
0.03
0.00
0.08
0.11
0.08
0.00
0.14
0.04
0.04
0.00
0.13
63.38
66.12
0.18
0.60
0.70
0.84
0.60
0.43
0.44
0.25
0.06
0.35
3.01
2.64
0.20
11.68
11.76
0.20
5.35
5.36
0.25
0.40
0.37
0.40
0.34
10.38
10.38
0.60
0.36
0.21
0.49
0.36
0.32
0.57
0.24
0.30
3.59
3.70
3.60
0.26
0.42
9.25
9.18
0.65
0.26
0.14
0.58
0.23
3.49
0.11
0.28
0.95
0.40
39.06
0.25
1.80
4.25
0.19
0.24
0.21
0.19
0.23
1.05
1.86
0.88
0.28
0.19
0.35
2.35
1.43
1.30
0.18
1.58
12.45
0.82
0.22
0.04
38.53
42.54
0.09
0.11
0.24
0.35
0.21
0.17
0.18
0.09
0.03
0.16
1.03
1.18
0.09
5.04
5.50
0.05
2.32
2.51
0.12
0.12
0.03
0.20
0.10
5.58
6.25
0.25
0.04
0.05
0.12
0.17
0.09
0.06
0.09
0.06
2.02
2.25
0.76
0.04
0.10
3.70
3.33
0.15
0.09
0.04
0.25
0.10
0.82
0.05
0.15
0.13
0.20
21.97
0.04
1.08
1.62
0.07
0.06
0.04
0.09
0.08
0.46
0.58
0.36
0.06
0.05
0.14
1.35
0.59
0.56
0.04
0.67
6.42
0.35
0.05
0.04 -
8.05 -
7.75
0.05 -
0.03
0.10
0.14
0.17 -
0.17 -
0.17 -
0.01
0.07
0.00
0.01
0.00
0.00
0.00
0.02
0.01
0.01
0.10
10.00
9.90
0.09
0.06
0.25
0.22
0.34
0.40
0.26
0.03
5.74
5.07
0.03
0.01
0.08
0.12
0.15
0.16
0.16
P-Q
0.04
8.01
7.75
0.04
0.03
0.10
0.12
0.16
0.17
0.17
DIVIDENDS
Company
Potash Corp Ssk
Kaiser Aluminum
Mosaic
Alcoa
Peabody Energy
Arch Coal
Div.
($)
0.10
0.24*
0.05
0.03*
0.07*
0.10*
Pay
Date
Aug 6
Aug 13
Aug 19
Aug 26
Aug 27
Sept 15
Record
Date
July 16
July 26
Aug 6
Aug 6
Aug 6
Sept 1
Note: Vale will pay $0.24* per outstanding common or prf sh
on Oct 20. Alcoa will pay a $0.9375* div on it $3.75* cmltv
pr stock on Oct 1, rec Sept 10. Franco-Nevada monthly div of
0.025 starting in July.
(100s)
Exc Volume
808
795
23081
488
1773
11420
55585
2764
350
3057
1063
1030
713
25340
2927
230
3831
52581
232
17979
299106
2220
2530
2269
943
4380
11077
1581
5760
225
20200
4377
9718
10116
3862
1625
1439
300
10308
704
1070
25943
574
9421
3889
1380
600
4544
2887
1424
30
8297
707
270
166612
38708
7317
853
5787
59285
4876
1070
330
422
7545
2200
1116
50
605
2235
870
1223
455
114
2260
562
475
660
1080
7392
Week
High
0.27
0.19
3.48
0.05
0.19
24.99
23.75
0.10
0.09
0.24
0.10
0.09
0.16
1.43
1.46
0.13
0.08
13.66
0.21
1.29
45.56
0.21
0.06
1.16
1.10
0.24
0.12
0.16
1.92
0.73
2.16
0.30
0.51
0.52
0.22
0.12
0.32
0.05
1.21
0.29
0.16
0.14
1.87
1.94
1.08
0.05
0.08
0.06
0.15
1.80
0.08
1.42
1.49
0.08
99.64
103.77
2.40
0.19
4.82
0.53
0.01
0.07
0.17
0.37
0.05
0.04
0.01
0.30
8.30
0.35
0.05
0.16
0.12
0.12
0.25
1.22
1.25
0.15
3.54
2.80
Low
Last Change
0.25 0.27 +
0.17 0.17 -
3.20 3.48 +
0.05 0.05
0.15 0.19 +
23.44 24.15 -
22.21 23.20 -
0.08 0.09 +
0.09 0.09
0.19 0.23 +
0.09 0.09
0.07 0.09 +
0.13 0.16 +
1.20 1.40 +
1.27 1.44 +
0.13 0.13
0.06 0.08 +
11.25 13.64 +
0.19 0.21 +
0.92 0.95 -
41.37 45.43 +
0.14 0.15 -
0.05 0.06 +
1.06 1.10 -
1.00 1.05 -
0.20 0.23 +
0.09 0.10 +
0.14 0.14 -
1.68 1.72 +
0.64 0.73 +
1.97 2.15 +
0.25 0.29 +
0.34 0.46 +
0.37 0.47 +
0.16 0.22 +
0.09 0.09 -
0.25 0.25 -
0.05 0.05
1.04 1.17 +
0.24 0.27 +
0.14 0.16 +
0.11 0.12 +
1.67 1.87 +
1.71 1.93 +
0.96 0.97 -
0.05 0.05
0.08 0.08
0.05 0.06
0.12 0.14 +
1.55 1.71 +
0.08 0.08 -
1.33 1.40 +
1.40 1.43 +
0.08 0.08
94.22 98.38 +
99.50 101.96 -
2.26 2.36 -
0.16 0.18 -
4.59 4.71 -
0.30 0.45 +
0.01 0.01
0.05 0.06 +
0.14 0.17 +
0.35 0.37 -
0.04 0.04 -
0.03 0.03 -
0.01 0.01
0.30 0.30 -
7.13 8.30 +
0.30 0.33 +
0.05 0.05
0.15 0.16
0.09 0.09 -
0.10 0.10
0.22 0.24 -
1.13 1.20 +
1.18 1.25 +
0.15 0.15
3.36 3.40 -
2.07 2.69 +
12-month
High Low
Stock
0.02 0.49 0.13
0.02 0.36 0.08
0.18 5.15 2.94
0.00 0.12 0.02
0.02 0.82 0.14
1.17 28.97 19.50
0.79 28.41 18.11
0.01 0.25 0.07
0.00 0.25 0.09
0.02 0.32 0.17
0.00 0.26 0.09
0.01 0.27 0.05
0.02 0.35 0.12
0.13 2.02 1.09
0.12 2.08 1.18
0.00 0.35 0.12
0.01 0.18 0.04
1.91 24.25 7.20
0.02 0.45 0.13
0.16 1.90 0.48
3.62 52.14 31.46
0.03 0.26 0.09
0.01 0.23 0.05
0.05 1.98 0.72
0.07 1.90 0.61
0.03 0.76 0.15
0.01 0.31 0.09
0.01 0.34 0.14
0.03 4.65 0.59
0.05 1.16 0.61
0.13 2.29 1.50
0.04 0.30 0.04
0.08 0.95 0.20
0.11 0.98 0.20
0.05 0.47 0.06
0.01 0.27 0.06
0.08 0.55 0.25
0.00 0.26 0.05
0.12 2.41 1.04
0.03 0.52 0.21
0.02 0.26 0.12
0.01 0.20 0.03
0.13 2.89 0.89
0.11 2.92 0.99
0.05 1.94 0.90
0.00 0.09 0.04
0.00 0.17 0.05
0.00 0.16 0.05
0.01 0.25 0.08
0.11 2.30 1.28
0.03 0.15 0.05
0.06 3.79 1.20
0.02 3.89 1.33
0.00 0.27 0.05
1.79 128.42 83.75
0.10 130.69 88.68
0.05 3.39 1.98
0.01 0.51 0.14
0.03 5.42 2.47
0.13 0.67 0.17
0.00 0.12 0.001
0.02 0.13 0.03
0.01 0.30 0.12
0.01 0.68 0.26
0.01 0.13 0.03
0.01 0.08 0.02
0.00 0.05 0.01
0.05 0.57 0.30
0.95 11.89 4.83
0.01 0.59 0.20
0.00 0.19 0.04
0.00 0.25 0.12
0.01 0.20 0.07
0.00 0.68 0.10
0.01 0.64 0.15
0.03 2.42 0.52
0.07 2.50 0.55
0.00 0.24 0.12
0.14 6.70 3.36
0.57 4.26 0.61
R
Radisson Mng
Radius Gold
Radius Gold*
Rainy Mtn Royl
Rainy River Rs
Ram Power
Rambler Mg&Mtl
Randgold Res*
Randsburg Intl
Rare Elemnt Rs
Raven Gold*
Rec Minerals
Red Back Mng
Red Mile Mnls
Red Pine Expl
Red Rock Enrgy
Redhawk Res
Redstar Gold
Redzone Res
Regent Vents
Remstar Res
Reservoir Capt
Resolve Vent
Reunion Gold
Revett Mnls
Rhyolite Res
Richmond Mnls
Richmont Mines
Richmont Mine*
Ringbolt Vent
Rio Alto Mng
Rio Cristal Rs
Rio Grande Mng
V
V
Q
V
V
T
V
Q
V
V
Q
V
T
V
V
V
V
V
T
V
V
V
V
V
T
V
V
T
X
V
V
V
V
370
1237
379
234
22763
4039
224
32727
20
7010
621
200
53011
400
13400
50
1050
200
10
402
520
458
13
2232
5790
685
1365
875
1714
62
26524
3297
55
0.10 0.10 0.10 +
0.31 0.29 0.31 +
0.29 0.25 0.28 -
0.06 0.06 0.06
6.03 5.77 5.90 -
2.47 2.25 2.27 -
0.45 0.40 0.44 +
93.32 89.05 92.29 +
0.05 0.05 0.05
3.08 2.20 3.07 +
0.01 1.0E8 0.00
0.10 0.10 0.10
26.26 23.77 25.83 +
0.09 0.07 0.07 -
0.07 0.06 0.07
0.10 0.10 0.10
0.40 0.34 0.35 -
0.09 0.09 0.09
0.51 0.51 0.51
0.09 0.09 0.09
0.08 0.08 0.08
0.65 0.61 0.65 +
0.16 0.16 0.16
0.25 0.22 0.23 -
0.28 0.25 0.28 +
0.38 0.28 0.38 +
0.05 0.05 0.05
4.64 4.12 4.30 -
4.38 3.91 4.17 -
0.10 0.09 0.10
0.84 0.68 0.82 +
0.09 0.06 0.08 +
0.24 0.24 0.24 -
0.01
0.01
0.01
0.00
0.05
0.08
0.02
1.14
0.00
0.66
0.00
0.00
0.88
0.01
0.00
0.00
0.05
0.00
0.00
0.00
0.00
0.03
0.00
0.01
0.01
0.08
0.00
0.37
0.19
0.00
0.12
0.01
0.04
0.18
0.46
0.43
0.17
6.85
4.23
0.74
99.67
0.12
4.69
0.01
0.25
28.94
0.19
0.12
0.25
0.49
0.35
0.75
0.14
0.15
1.07
0.49
0.25
0.52
0.65
0.07
5.46
5.25
0.15
0.92
0.10
0.52
0.06
0.14
0.10
0.06
1.90
2.10
0.23
55.06
0.04
1.91
0.001
0.10
9.17
0.07
0.05
0.06
0.11
0.05
0.37
0.05
0.05
0.60
0.15
0.05
0.09
0.25
0.02
2.80
2.57
0.08
0.19
0.04
0.24
* = US funds, ** = Australian funds, f=formula, e = estimate
INTERNATIONAL QUOTES
LENDING RATES
as of 9 a.m. ET. July 27, 2010
Bank of Canada
Target overnight rate
Canadian Prime
U.S. Discount Primary
U.S. Fed Funds market rate
U.S. Prime
LIBOR US$ 3-month
LIBOR US$ 6-month
LIBOR US$ 1-year
Gold lease 3-month
Gold lease 6-month
Gold lease 1-year
Silver lease 3-month
Silver lease 1-year
Platinum lease 3-month
Platinum lease 1-year
Metal lease rates from www.kitco.com
(%)
1.00
0.75
2.50
0.75
0-0.25
3.25
0.51
0.71
1.13
-0.0007
0.15
0.47
-0.27
-0.27
0.09
0.93
Australia (A$)
Aquila Resources
Bendigo Mining
Centennial Coal
Fortescue Res
Iluka Resources
Kingsgate Cons.
MacArthur Coal
St. Barbara
Newcrest Mining
Zimplats
July 27
7.58
0.19
6.00
4.27
5.50
9.73
12.92
0.32
33.06
10.00
July 20
7.27
0.20
5.93
4.13
5.41
9.40
12.20
0.34
33.50
10.00
Change
0.31
-0.01
0.07
0.14
0.09
0.33
0.72
-0.02
-0.44
0.00
Britain (pound)
Antofagasta
10.14
9.36
0.78
Lonmin
15.54
14.47
1.07
Oxus Gold
6.54
6.36
0.18
Xstrata
10.37
9.52
0.85
Mexico (peso)
Grupo Mexico
34.10
31.20
Indust. Penoles
278.74
264.88
South Africa (R) Aquarius Plat
32.50
30.00
African Rainbow
173.70
164.15
Harmony Gold
74.13
77.50
Impala Platinum
206.00
186.35
Metorex
3.69
3.60
Northam Plat
45.70
43.95
2.90
13.86
2.50
9.55
-3.37
19.65
0.09
1.75
July 22
1.0376
0.9638
July 21
1.0427
0.9590
July 20
1.0526
0.9500
EXCHANGE RATES (Bank of Canada, July 19, 2010)
Currency
Aus $
Euro
In C$
0.9279
1.3387
In US$
0.8998
1.2982
Japan
0.0118
0.0114
Mex P
0.0812
0.0787
SA Rand
0.1401
0.1359
Rio Novo Gold
Rio Tinto*
Riverside Res
Riverstone Res
Robex Res
Roca Mines
Rochester Res
Rock Tech Res
Rockbridge Enr
Rockcliff Res
Rockgate Cap
Rockhaven Res
Rockland Mnls
Rockwell Diam
Rocmec Mining
Rodinia Minls
Romarco Mnrls
Rome Res
Romios Gold Rs
Romulus Res
Roscan Minls
Ross River Mnl
Roxgold
Royal Gold
Royal Gold*
RPT Uranium
Rubicon Mnls*
Rubicon Mnrls
Ruby Red Res
Rugby Mng
Running Fox Rs
Rupert Res
Rusoro Mng
Russell Metals
Rye Patch Gold
Week
High
Low
1.10
46.02
0.55
0.49
0.12
0.29
0.10
0.08
0.09
0.13
0.47
0.20
0.14
0.06
0.03
0.28
1.59
0.28
0.12
0.71
0.06
0.04
0.14
45.14
42.75
0.18
3.31
3.43
0.04
0.50
0.08
0.23
0.17
18.55
0.14
Last Change
12-month
High Low
Stock
Teck A
T
Teck B*
N
Teck B
T
Temex Res
V
Terra Vent
V
Terraco Gold
V
Terrane Metals V
Terrax Minls
V
Teryl Res Corp V
Teslin Rvr Res V
Teuton Res
V
Thelon Cap
V
Thompson Creek T
Thompson Crk* N
Threegold Res V
Thundermin Res T
Tiex
V
Timminco
T
Timmins Gold V
Tinka Res
V
TintinaGold Rs V
Tirex Res
V
Titan Uranium V
Titanium Corp V
TNR Gold
V
Tombstone Exp* Q
Torch Rvr Res V
Torex Gold
T
Tornado Gold* Q
Tosca Mng
V
Totem Mnls
V
Tournigan Engy V
Trade Winds Vt V
Treasury Metal T
Trelawney M&Ex V
Tres-Or Res
V
Tri Origin Exp V
Tri-Star Gold
V
Tri-Valley*
X
TriAusMin
T
Tribune Uranm V
Tribute Minls
V
Tribute Res
V
Trijet Mining
V
Trio Gold Corp V
Troon Vent
V
Troy Res
T
Troymet Expl
V
True North Gem V
Trueclaim Expl V
Tsodilo Res
V
TTM Res
V
Tumi Res
V
TVI Pacific
T
Tyhee Dvlpmnt V
Typhoon Expl V
U3O8 Corp
UC Res
Ucore Uranium
UEX Corp
Ultra Lithium
Ultra Uranium
Unigold
United Reef
Universal Powr
Upper Can Gold
Ur-Energy
Ur-Energy*
Uracan Res
Uragold Bay Rs
Uranerz Energy
Uranerz Energ*
Uranium Ener*
Uranium North
Uranium One
Uranium Partic
Uranium Res*
Uravan Minls
Ursa Major Min
US Antimony*
US Energy*
US Gold
US Gold*
US Gold Can Ac
US Silver
Vaaldiam Res
Valdez Gold
Vale*
Valencia Vent
ValGold Res
Valley High Vt
Vangold Res
Vanstar Mng Rs
Velocity Minls
Vena Res
Ventana Gold
VG Gold
Victoria Gold
Victory Nickel
Viking Gold
Vior Mining
Virgin Metals
Virginia Engy Virginia Mines
Visible Gold M
Vista Gold
Vista Gold*
VMS Vent
Volcanic Mtls
Volta Res
Vulcan Mnrls
VVC Expl
Wallbridge Mng
War Eagle Mg
Waseco Res
Waymar Res
Wealth Minls
Wescan Goldfie
Wesdome Gold
West High Yld
Westar Res
Westcan Uran
Western Areas
Western Coal
Western Copper
Western Pac Rs
Western Potash
Western Std Mt
Western Troy C
Western Uran
Westminster Rs
Westmoreland*
Westridge Res
WGI Heavy Mnl
White Bear Res
Whitemud Res
Wildcat Expl
Wildcat Silver
Williams Creek
Win Eldrich Mn
Windarra Minls
Witwatersrand
Woulfe Mng
WPC Res
X-Cal Res
X-Terra Res
Xemplar Energy
Xinergy
Xmet
Xtierra
Xtra-Gold Res*
Yale Res
Yamana Gold*
Yamana Gold
Yankee Hat Ind
Yanzhou Coal*
Yellowcake Mg*
Yorbeau Res A
Yukon-Nev Gold
Z-Gold Expl
Zazu Metals
Zimtu Capital
Zinccorp Res
Zinco Mng
Zincore Mtls
T
N
V
V
V
V
V
V
V
V
T
V
V
T
V
V
V
V
V
V
V
V
V
T
Q
V
X
T
V
V
V
V
V
T
V
15878
164294
7236
5740
4536
8440
3017
5377
3025
400
2750
400
2565
15169
2987
1538
44650
936
5610
60
2
3172
1
75
29528
8100
15220
19999
10
115
2733
52
5429
5981
3614
1.23
51.98
0.71
0.55
0.15
0.34
0.12
0.09
0.10
0.13
0.55
0.20
0.17
0.07
0.04
0.32
1.75
0.48
0.15
0.71
0.06
0.04
0.15
46.31
44.64
0.19
3.46
3.59
0.04
0.50
0.09
0.28
0.19
19.75
0.16
1.20
51.95 +
0.68 +
0.51 -
0.14
0.31 -
0.11 -
0.08 -
0.10
0.13 -
0.55 +
0.20 +
0.16 +
0.06
0.04
0.31
1.69 -
0.39 -
0.14 +
0.71
0.06 -
0.04
0.15 +
45.60 -
44.08 +
0.19 -
3.35 -
3.46 -
0.04
0.50 +
0.09
0.24 +
0.18 -
19.73 +
0.15 -
0.00
6.19
0.12
0.03
0.00
0.02
0.01
0.02
0.00
0.02
0.02
0.02
0.01
0.00
0.00
0.00
0.06
0.09
0.03
0.00
0.01
0.00
0.01
0.67
0.26
0.01
0.02
0.11
0.00
0.05
0.00
0.01
0.01
0.84
0.01
1.60
62.24
0.77
1.01
0.19
0.89
0.27
0.47
0.28
0.38
0.80
0.35
0.18
0.09
0.11
0.80
2.20
0.75
0.35
0.89
0.18
0.09
0.18
58.35
55.96
0.25
5.24
5.41
0.23
0.60
0.34
0.45
0.61
22.25
0.49
1.10
36.35
0.34
0.16
0.05
0.29
0.10
0.08
0.09
0.08
0.45
0.12
0.14
0.03
0.03
0.28
0.74
0.14
0.09
0.38
0.05
0.03
0.08
41.71
38.04
0.14
2.42
2.67
0.03
0.26
0.08
0.21
0.17
14.90
0.14
Sabina Silver
T
Sable Res
V
Sacre-Coeur Ml V
Sage Gold
V
Salazar Res
V
Samex Mng*
Q
Samex Mng
V
San Anton Res T
San Gold Res V
San Marco Res V
Sanatana Diam V
Sandstorm Mt&E V
Sandstorm Res V
Santa Fe Gold* Q
Santa Fe Metls V
Saturn Minls
V
Savant Expl
V
Scorpio Mining T
Sea Green Cap V
Seabridge Gld* X
Seabridge Gold T
Seafield Res
V
Search Mnls
V
Searchgold Res V
Secova Mtls
V
Sedex Mng
V
Sego Res
V
Selwyn Res
V
Semafo
T
Senator Minls V
Sennen Res
V
Sentry Sl PrmM T
Serengeti Res V
SGX Res
V
Shear Minls
V
Sherritt Intl
T
Shore Gold
T
Shoreham Res V
Shoshone Silv* Q
Sidon Intl Res V
Sienna Gold
V
Silver Bear Rs T
Silver Dragon* Q
Silver Fields
V
Silver Grail R
V
Silver Lake Rs V
Silver Quest R V
Silver Shield
V
Silver Spruce
V
Silver Std Res T
Silver Std Re* Q
Silver Wheatn* N
Silver Wheaton T
Silverado*
Q
Silvercorp Mt* N
Silvercorp Mtl T
SilverCrest Mn V
Silvermet
V
Silvermex Res V
Silvore Fox Ml V
Sinchao Mtls
V
SinoCoking Cl* Q
Sirios Res
V
Skeena Res
V
Skyharbour Res V
Skyline Gold
V
Slam Exploratn V
SNS Silver
V
Soc Quim&M Ch* N
Softrock Mnrl
V
Soho Res
V
Sola Res
V
Solid Res
V
Solitaire Mnls V
Solitario Res
T
Solitario Res* X
Solomon Res V
Soltoro
V
Source Expl
V
South Am Gld&C T
South Am Silvr T
Southern And E V
Southern Arc
V
Southern Silvr V
SouthGobi Res T
Spanish Mtn Gd V
Sparton Res
V
Spider Res
V
Sprott Res
T
Spruce Ridge R V
Spur Ventures T
St Andrew Gldf T
St Elias Mns
V
St Eugene Mng V
Stans Energy V
Star Uranium
V
Starcore Int V T
Starfield Res* Q
Starfield Res
T
Starfire Mnrls
V
Stealth Mnls
V
Stellar Pac Vt
V
Stelmine Can V
Stikine Gold
V
Stillwater Mg* N
Stina Res
V
StoneShield Ca V
Stornoway Diam T
Strait Gold
V
Strata O&G*
Q
Strateco Res
T
Strategic Metl V
Strategic Res V
Strathmore Min V
Strike Minls
V
StrikePoint Gd V
Strongbow Expl V
Stroud Res
V
Sulliden Expl
T
Sultan Mnrls
V
Sunridge Gold V
Sunward Res V
Superior Mng V
Supreme Res V
Sutter Gold
V
Swift Res
V
14016
178
14206
7124
837
1282
1090
531
38754
590
985
465
3936
1373
550
6680
2590
9022
105
25196
1667
10045
685
6565
4384
875
240
5006
81313
601
1055
1036
2889
1066
43824
36965
8143
3071
1499
203211
1988
170
2238
100
2286
420
21227
1640
18113
4185
27303
209866
65193
169955
7975
15413
3880
450
5659
4770
2810
2901
885
4411
5393
15454
15472
7734
22141
323
360
9692
1662
4740
71
309
1340
1059
20
10050
7713
50
7292
6028
1783
20437
7743
17991
2262
575
1227
6707
4679
5321
39600
215
5373
16491
47634
356
8096
46305
104
6009
76749
2979
170
7325
1030
5869
13163
2287
6201
4194
400
18958
207
110
19709
2954
1207
1695
2125
255
450
2026
2.83 2.65 2.76 -
0.14 0.13 0.14 -
0.76 0.66 0.76 +
0.20 0.17 0.19
1.15 1.07 1.10 -
0.26 0.21 0.25 +
0.26 0.23 0.25
0.16 0.16 0.16
3.94 3.62 3.81 -
0.30 0.30 0.30
0.09 0.08 0.09 +
0.39 0.35 0.35 -
0.64 0.59 0.63
0.88 0.83 0.86 +
0.08 0.06 0.06 -
0.06 0.05 0.06
0.09 0.06 0.06 -
0.65 0.61 0.65 +
0.01 0.01 0.01
27.19 24.20 26.66 -
28.60 25.60 27.70 -
0.17 0.16 0.17
0.42 0.38 0.42 +
0.03 0.02 0.03
0.14 0.12 0.14
0.02 0.01 0.01
0.08 0.07 0.08
0.20 0.18 0.19 -
7.38 6.70 7.20 -
0.04 0.04 0.04
0.31 0.31 0.31
8.20 7.97 8.15 +
0.26 0.23 0.25 -
0.34 0.32 0.34 +
0.07 0.05 0.06 +
6.95 6.17 6.93 +
0.62 0.58 0.62 +
0.15 0.13 0.13 -
0.13 0.09 0.09 -
0.16 0.09 0.12 +
0.17 0.14 0.15 -
0.23 0.22 0.22
0.19 0.16 0.17
0.10 0.10 0.10
0.17 0.14 0.16 +
0.15 0.12 0.12 -
0.57 0.48 0.52 -
0.04 0.03 0.03
0.05 0.04 0.04 -
17.42 16.49 16.72 -
16.69 15.61 16.14 -
19.04 17.64 18.77 +
19.83 18.63 19.53 -
0.00 1.0E8 0.00
6.67 5.89 6.63 +
6.90 6.21 6.87 +
0.99 0.88 0.93 -
0.10 0.09 0.10
0.34 0.30 0.31 -
0.09 0.08 0.09
0.22 0.16 0.20 +
14.57 12.50 14.55 +
0.05 0.05 0.05
0.06 0.05 0.06 +
0.05 0.04 0.05
0.15 0.12 0.14
0.10 0.09 0.09 +
0.06 0.05 0.06
37.13 34.30 37.10 +
0.03 0.03 0.03
0.05 0.05 0.05
0.08 0.06 0.06
0.26 0.19 0.20 -
0.06 0.05 0.06 +
2.19 1.97 2.11 +
2.14 1.86 2.00 -
0.16 0.13 0.15 +
0.21 0.20 0.20 -
0.10 0.10 0.10 -
0.04 0.03 0.03
0.57 0.49 0.49 -
0.13 0.13 0.13
0.80 0.74 0.80
0.09 0.07 0.08 -
13.70 12.16 13.66 +
0.47 0.38 0.38 -
0.12 0.10 0.12 +
0.19 0.19 0.19
4.19 3.96 4.15 +
0.20 0.17 0.20 +
0.31 0.28 0.28 -
1.19 1.13 1.19
1.51 1.25 1.32 -
0.07 0.05 0.06 -
0.28 0.25 0.25 +
0.04 0.03 0.03 -
0.09 0.08 0.09
0.07 0.05 0.07 +
0.07 0.04 0.07 +
0.01 0.01 0.01
0.01 0.01 0.01
0.07 0.05 0.06 +
0.08 0.07 0.07
0.28 0.22 0.27 +
13.90 12.09 13.79 +
0.60 0.47 0.60 +
0.14 0.12 0.12 -
0.58 0.55 0.57 -
0.05 0.05 0.05
0.23 0.15 0.19 -
0.53 0.47 0.52 +
0.69 0.63 0.66 +
0.04 0.03 0.04 +
0.50 0.46 0.50 +
0.05 0.05 0.05
0.43 0.31 0.40 +
0.10 0.10 0.10 -
0.05 0.05 0.05
0.66 0.55 0.66 +
0.05 0.05 0.05
0.43 0.40 0.43 +
0.75 0.70 0.75 +
0.12 0.10 0.10 -
0.09 0.07 0.09 +
0.10 0.10 0.10
0.10 0.08 0.10 +
0.06
0.01
0.06
0.00
0.06
0.02
0.00
0.00
0.07
0.00
0.02
0.03
0.00
0.01
0.01
0.00
0.03
0.03
0.00
0.54
0.90
0.00
0.01
0.00
0.00
0.00
0.00
0.01
0.25
0.00
0.00
0.02
0.02
0.02
0.01
0.53
0.01
0.01
0.03
0.02
0.02
0.00
0.00
0.00
0.02
0.03
0.03
0.00
0.02
0.36
0.07
0.18
0.11
0.00
0.34
0.22
0.03
0.00
0.02
0.00
0.04
1.27
0.00
0.01
0.00
0.00
0.01
0.00
2.47
0.00
0.00
0.00
0.02
0.01
0.05
0.01
0.01
0.02
0.03
0.00
0.06
0.00
0.00
0.01
1.21
0.10
0.01
0.00
0.04
0.02
0.02
0.00
0.15
0.01
0.01
0.02
0.00
0.01
0.01
0.00
0.00
0.01
0.00
0.04
1.11
0.13
0.03
0.01
0.00
0.03
0.03
0.04
0.01
0.02
0.00
0.03
0.01
0.00
0.09
0.00
0.03
0.05
0.02
0.01
0.00
0.01
2.95
0.41
1.20
0.75
1.28
0.50
0.53
0.38
5.00
0.65
0.25
1.50
0.97
1.74
0.21
0.19
0.25
0.99
0.05
37.95
40.00
0.35
0.69
0.09
0.22
0.05
0.14
0.30
9.13
0.12
0.40
9.05
0.39
0.50
0.12
9.05
1.68
0.32
0.24
0.16
0.38
0.51
0.50
0.40
0.44
0.25
0.65
0.11
0.17
26.21
25.00
21.89
22.64
0.02
9.05
9.21
1.20
0.16
0.61
0.15
0.30
53.70
0.12
0.17
0.09
0.22
0.14
0.27
43.93
0.06
0.10
0.09
0.80
0.17
2.73
2.67
0.31
0.55
0.40
0.05
0.81
0.45
0.95
0.19
20.39
0.52
0.22
0.19
4.85
0.20
0.36
1.37
2.40
0.12
0.52
0.12
0.25
0.20
0.22
0.06
0.05
0.10
0.26
0.40
18.48
0.60
0.24
0.80
0.13
0.79
1.12
0.75
0.08
0.80
0.09
0.53
0.22
0.12
1.06
0.08
0.85
1.50
0.50
0.14
0.22
0.35
0.77
0.10
0.57
0.17
0.64
0.10
0.11
0.13
2.27
0.24
0.05
0.32
0.32
0.77
0.06
0.05
0.05
0.40
0.01
19.36
20.91
0.05
0.10
0.01
0.09
0.01
0.07
0.10
2.03
0.04
0.18
5.20
0.21
0.17
0.05
5.18
0.49
0.13
0.08
0.03
0.09
0.22
0.09
0.10
0.06
0.06
0.08
0.03
0.04
16.49
15.61
8.44
9.21
0.001
3.07
3.40
0.45
0.05
0.17
0.03
0.09
3.50
0.05
0.04
0.03
0.05
0.01
0.05
30.98
0.03
0.04
0.01
0.04
0.05
1.65
1.50
0.13
0.20
0.10
0.03
0.29
0.11
0.29
0.06
8.91
0.17
0.06
0.03
2.86
0.07
0.24
0.35
0.10
0.02
0.01
0.03
0.08
0.05
0.04
0.01
0.01
0.04
0.07
0.07
5.95
0.30
0.06
0.10
0.03
0.15
0.47
0.25
0.02
0.41
0.03
0.20
0.07
0.03
0.50
0.04
0.34
0.04
0.05
0.06
0.06
0.08
0.01
0.28
0.01
0.11
0.04
0.00
0.00
0.01
0.03
0.01
0.01
0.23
0.19
0.05
0.02
0.00
0.08
8.00
0.30
0.38
0.58
0.45
0.07
5.41
5.22
0.74
0.39
6.21
6.19
1.50
0.60
0.35
0.001
5.99
0.06
0.06
0.22
0.12
0.01
2.91
2.69
0.05
0.13
1.70
1.89
0.40
0.14
0.07
S
T
EXCHANGE RATES
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)
Date
July 26
July 23
US$ in C$
1.0312
1.0373
C$ in US$
0.9697
0.9640
(100s)
Exc Volume
UK £
1.5972
1.5489
Tagish Lk Gold
Tahoe Res
Takara Res
Taku Gold
Talon Metals
Tamerlane Vent
Tanqueray Res
Tanz Roy Exp
Tanz Roy Exp*
Tara Gold*
Tarsis Res
Taseko Mines*
Taseko Mines
Tasman Metals
Tatmar Vent
Tawsho Mng
V
T
V
V
T
V
V
T
X
Q
V
X
T
V
V
V
12517
2668
760
15424
5702
2710
245
1687
15967
2000
965
66492
17412
6028
20
494
0.08
7.75
0.11
0.33
0.35
0.14
0.01
5.30
5.10
0.51
0.16
4.16
4.32
0.80
0.48
0.29
0.06
7.15
0.10
0.20
0.32
0.12
0.01
5.02
4.74
0.40
0.14
3.71
3.93
0.64
0.48
0.25
0.07 +
7.63 +
0.10 -
0.32 +
0.32 -
0.13
0.01
5.17 -
4.95 +
0.41 +
0.16 +
4.15 +
4.32 +
0.68 -
0.48 -
0.29
(100s)
Exc Volume
Week
12-month
High
Low
Last Change
High Low
217
300269
210808
1452
6096
3144
634203
92
2923
103
1546
1885
79756
36401
481
559
730
3855
18553
2710
497
7410
7305
214
3090
7260
2090
8997
2213
180
917
14677
14938
772
5262
140
2808
5
2442
616
5
8898
1000
2600
6478
0
514
4795
3636
8105
845
1849
305
10634
5891
1091
37.95
35.92
37.25
0.25
0.32
0.09
1.38
0.30
0.19
0.08
0.45
0.12
9.74
9.40
0.06
0.10
0.05
0.54
1.43
0.12
0.45
0.15
0.14
1.41
0.22
0.08
0.03
0.99
0.02
0.14
0.50
0.19
0.16
0.34
0.76
0.08
0.05
0.29
0.95
0.06
0.61
0.08
0.11
0.13
0.17
0.52
2.39
0.05
0.09
0.13
1.75
0.33
0.13
0.09
0.16
0.52
34.06
30.94
32.67
0.22
0.28
0.08
1.33
0.26
0.17
0.05
0.39
0.10
9.04
8.55
0.05
0.09
0.04
0.50
1.33
0.11
0.40
0.12
0.12
1.35
0.19
0.05
0.02
0.90
0.01
0.11
0.45
0.10
0.13
0.31
0.67
0.08
0.04
0.29
0.82
0.05
0.61
0.06
0.11
0.10
0.15
0.52
2.26
0.05
0.08
0.11
1.45
0.29
0.10
0.09
0.14
0.48
37.95 + 2.83
35.66 + 4.02
37.00 + 3.56
0.22 - 0.01
0.30 + 0.02
0.09 - 0.01
1.38 + 0.03
0.30 - 0.01
0.18 + 0.01
0.05 - 0.01
0.41 - 0.02
0.11 - 0.01
9.70 + 0.45
9.36 + 0.61
0.06 0.00
0.10 0.00
0.04 - 0.01
0.53 + 0.02
1.41 - 0.03
0.12 0.00
0.40 - 0.04
0.14 0.00
0.14 + 0.01
1.40 + 0.05
0.20 0.00
0.06 - 0.01
0.03 - 0.01
0.98 + 0.01
0.02 + 0.01
0.14 + 0.03
0.49 - 0.01
0.17 + 0.06
0.14 0.00
0.31 0.00
0.71 - 0.03
0.08 0.00
0.04 0.00
0.29 - 0.94
0.94 + 0.03
0.06 + 0.01
0.61 + 0.01
0.08 + 0.01
0.11 + 0.02
0.13 - 0.01
0.17 0.00
0.52 - 0.03
2.39 + 0.11
0.05 0.00
0.09 - 0.01
0.12 0.00
1.67 -0.00
0.31 - 0.02
0.10 - 0.04
0.09 0.00
0.14 - 0.01
0.50 - 0.02
47.60
46.92
46.92
0.40
0.60
0.15
1.80
0.49
0.39
0.14
0.56
0.55
16.50
15.64
0.23
0.20
0.19
3.08
1.56
0.36
1.09
0.96
0.47
1.63
0.38
0.17
0.06
1.98
0.03
0.30
0.65
0.35
0.25
0.86
1.35
0.17
0.25
1.46
3.80
0.20
1.00
0.23
0.25
0.19
0.20
1.05
2.85
0.15
0.22
0.35
2.50
0.73
0.20
0.13
0.28
1.07
24.41
20.89
23.21
0.14
0.25
0.06
0.22
0.13
0.08
0.04
0.09
0.10
8.48
8.03
0.05
0.08
0.04
0.44
0.52
0.07
0.37
0.12
0.10
0.44
0.17
0.02
0.02
0.45
0.001
0.11
0.09
0.09
0.07
0.14
0.15
0.06
0.04
0.29
0.82
0.04
0.25
0.05
0.07
0.09
0.03
0.52
1.17
0.01
0.07
0.09
0.27
0.20
0.10
0.03
0.10
0.09
V
V
V
T
V
V
V
V
V
V
T
X
V
V
T
X
X
V
T
T
Q
V
T
Q
Q
T
X
T
V
T
V
N
V
V
V
V
V
T
T
T
T
V
T
V
V
V
V
T
V
T
X
V
V
T
V
V
17530
10631
12295
5058
11903
60
1992
363
10238
25
2855
283
15279
390
2426
11380
8582
1002
101648
10617
19830
130
1390
905
6257
1130
5780
157
10919
3278
500
394147
2352
238
388
2005
60
1011
1248
23604
3615
15771
3054
4558
1222
25895
1207
496
156
756
16217
3688
1640
25206
208
8091
0.37
0.10
0.31
0.85
0.05
0.05
0.20
0.03
1.79
0.18
0.83
0.79
0.14
0.03
1.15
1.12
2.45
0.09
2.88
6.25
0.53
0.16
0.09
0.50
4.90
5.00
4.81
5.18
0.22
0.27
0.14
27.80
0.09
0.17
0.37
0.16
0.16
0.12
0.23
6.96
0.35
0.76
0.10
0.08
0.08
0.04
0.17
7.25
0.15
1.65
1.59
0.24
0.14
1.28
0.45
0.16
0.31 +
0.10
0.31 +
0.84 +
0.04
0.04
0.19
0.03
1.66 +
0.18
0.81 +
0.78 +
0.14 +
0.03
1.12 +
1.07 +
2.45 +
0.09 +
2.82 -
6.24 +
0.45 -
0.12 -
0.09 +
0.49 +
4.90 +
4.95 +
4.80 +
4.69 +
0.20 -
0.27 +
0.12 -
27.72 +
0.08 +
0.16 -
0.37 +
0.16 +
0.16 +
0.11
0.23 +
6.92 +
0.33 -
0.73 -
0.09
0.07
0.08
0.03
0.14 -
7.19 -
0.15 +
1.43 -
1.39 -
0.23
0.10 -
1.20 -
0.42 -
0.12 -
0.06
0.00
0.05
0.05
0.00
0.00
0.00
0.00
0.11
0.00
0.02
0.04
0.02
0.00
0.08
0.07
0.24
0.01
0.03
0.33
0.02
0.03
0.01
0.04
0.35
0.15
0.25
0.02
0.01
0.01
0.03
3.38
0.01
0.02
0.03
0.02
0.03
0.00
0.03
0.10
0.01
0.04
0.00
0.00
0.00
0.00
0.02
0.01
0.01
0.11
0.09
0.00
0.03
0.10
0.03
0.04
0.63
0.16
1.00
1.38
0.16
0.12
0.37
0.08
2.58
0.65
1.14
1.07
0.49
0.05
2.66
2.50
4.16
0.17
3.62
7.70
1.45
0.25
0.14
0.60
7.39
5.63
5.43
6.00
0.26
0.45
0.17
34.71
0.25
0.28
0.83
0.76
0.21
0.45
0.44
12.91
0.59
1.13
0.24
0.15
0.12
0.10
0.60
8.60
0.28
3.59
3.38
0.44
0.40
1.79
0.93
0.37
0.20
0.07
0.20
0.64
0.04
0.04
0.14
0.01
0.56
0.15
0.76
0.73
0.10
0.01
0.93
0.87
2.10
0.06
1.97
5.08
0.38
0.12
0.07
0.25
1.94
2.16
2.02
2.00
0.12
0.001
0.07
18.53
0.05
0.05
0.15
0.14
0.08
0.10
0.20
4.60
0.12
0.31
0.06
0.02
0.06
0.03
0.14
3.56
0.10
1.42
1.35
0.19
0.10
0.14
0.36
0.12
T
V
V
V
V
V
T
V
V
V
T
T
T
V
V
V
V
V
V
X
V
T
V
V
V
V
V
V
V
T
V
V
T
V
V
T
V
V
Q
V
N
T
V
N
Q
T
T
V
T
V
V
V
T
770
10941
2175
90
167
3056
1542
627
43475
830
167
198946
6582
375
9671
10
70
5820
765
692
325
289
3180
1115
12109
1795
1360
5
500
3
13612
1050
9287
66
685
34550
1820
539
4311
10896
52998
123876
6346
16106
27
521
82151
140
567
194
3945
216
670
0.16
0.06
0.14
0.44
0.30
0.05
2.46
0.55
0.03
0.12
4.50
4.40
0.87
0.43
0.45
0.17
0.23
0.83
0.19
8.64
0.26
0.49
0.06
0.29
0.06
0.41
0.17
0.29
0.12
7.35
0.09
0.13
0.17
0.32
0.09
2.20
0.20
0.12
1.25
0.06
9.63
10.02
0.06
21.93
0.02
0.18
0.34
0.15
0.17
1.10
0.04
0.20
0.31
0.16
0.06
0.11 -
0.44 -
0.29 +
0.05
2.40 -
0.55 +
0.01
0.12 -
4.50 +
4.39 +
0.85 +
0.38 -
0.45 +
0.17
0.22 -
0.81 +
0.18 -
8.49 +
0.25 -
0.44 -
0.05 -
0.27 -
0.05 +
0.40 -
0.17
0.29 +
0.12 +
7.35 +
0.09
0.13
0.16 +
0.32
0.09
2.00 -
0.19
0.12 +
1.24 +
0.06
9.53 +
9.88 -
0.05
21.88 +
0.02
0.18
0.33 +
0.15 -
0.17
1.05 -
0.03
0.15 -
0.28
0.00
0.00
0.01
0.02
0.01
0.00
0.04
0.03
0.00
0.01
0.62
0.43
0.01
0.02
0.01
0.00
0.05
0.02
0.02
0.54
0.04
0.06
0.01
0.03
0.01
0.02
0.00
0.03
0.02
0.10
0.00
0.00
0.02
0.00
0.00
0.12
0.00
0.01
0.04
0.00
0.01
0.18
0.00
2.78
0.00
0.00
0.08
0.02
0.00
0.09
0.00
0.05
0.00
0.39
0.14
0.22
0.56
0.75
0.29
2.89
0.89
0.16
0.35
5.80
6.97
2.25
0.62
0.74
0.51
0.69
1.15
0.32
14.40
0.40
0.52
0.15
1.19
0.20
0.80
0.21
0.47
0.19
13.99
0.30
0.22
0.25
0.58
0.33
4.12
0.30
0.26
1.28
0.13
14.37
15.00
0.09
28.72
0.06
0.34
0.41
0.40
0.45
1.60
0.14
0.43
0.40
0.09
0.05
0.08
0.06
0.25
0.05
1.62
0.29
0.01
0.09
3.14
2.02
0.81
0.36
0.36
0.12
0.15
0.70
0.13
6.28
0.21
0.22
0.05
0.19
0.05
0.27
0.05
0.13
0.09
6.27
0.05
0.13
0.05
0.30
0.08
1.75
0.001
0.05
0.57
0.04
8.42
9.35
0.02
13.26
0.02
0.10
0.07
0.03
0.14
0.96
0.03
0.08
0.07
U-V
0.26
0.09
0.23
0.77
0.04
0.04
0.18
0.03
1.54
0.18
0.78
0.74
0.11
0.03
1.00
0.96
2.11
0.07
2.81
5.91
0.41
0.12
0.07
0.39
4.41
4.49
4.26
4.21
0.19
0.25
0.12
24.43
0.07
0.16
0.33
0.14
0.13
0.10
0.20
6.41
0.30
0.72
0.09
0.07
0.08
0.03
0.14
7.10
0.13
1.42
1.35
0.22
0.10
1.12
0.41
0.12
W-Z
0.14
0.05
0.11
0.44
0.28
0.05
2.29
0.52
0.01
0.12
3.90
3.76
0.83
0.38
0.43
0.17
0.22
0.79
0.18
7.92
0.21
0.44
0.05
0.27
0.05
0.37
0.16
0.29
0.12
7.35
0.08
0.13
0.14
0.30
0.08
2.00
0.19
0.12
1.15
0.05
9.17
9.68
0.05
19.50
0.02
0.17
0.25
0.14
0.16
1.01
0.03
0.15
0.28
STOCK MISSING OR INCORRECT? Let us know at
1-416-510-6764 or [email protected]. Data
supplied by Reuters Canada.
10 AUGUST 2-8, 2010 THE NORTHERN MINER
10 AUGUST 2-8, 2010 THE NORTHERN MINER
Career OppOrtunities
Rubicon Minerals Corporation is a well-funded, leading, gold exploration company with
major land holdings in Red Lake, Ontario, Alaska and Nevada. Rubicon is currently
seeking to fill the following positions to join our team in Red Lake, Ontario. Experience in
high-grade Archean gold exploration will be an asset, as well as a working knowledge of
various modeling software. Applicants must be legally authorized to work in Canada.
Senior Underground Geologist
The successful candidate will be responsible for managing ongoing underground
delineation drilling, zone interpretations and supervise the underground mapping, and will
work closely with both exploration and operations. The candidate must be a “hands on”
team leader with a proven track record. Strong communication and planning skills are
essential.
Requirements:
• must possess a minimum B.Sc. in Geology
• must be a registered Professional Geologist in North America
(or be eligible for registration)
• minimum of 10 years mineral exploration experience
Underground Geologist
The successful candidate will will be responsible for ongoing underground mapping and
sampling, provide input to zone interpretations and core logging as needed, and work
closely with both exploration and operations. Must have a strong understanding
underground mapping and best practices. The candidate must be a “hands-on” team
player with a proven track record. Strong communication and planning skills are essential.
Requirements:
• must possess a minimum B.Sc. in Geology
• must be a registered Professional Geologist in North America
(or be eligible for registration)
• minimum of 5 years experience working as a geologist in a mine
Manager of Investor Relations
Reporting to the CFO, and located in Vancouver, British Columbia,
the Investor Relations Manager will be responsible for clearly
articulating Greystar’s plans for the development of its Angostura
gold-silver deposit in Colombia. The successful candidate will be
responsible the development and execution of a communications
strategy for providing information regarding Greystar’s activities and
performance to a broad range of stakeholders, including investment
institutions, banks, analysts, retail brokers, shareholders and others.
The ideal candidate will be a professional with a post-secondary education or equivalent experience in business, finance or communications; 5 years experience in investor relations; with a strong knowledge of the mineral exploration/mining sector. The candidate must
have excellent written and verbal communication skills, be a selfstarter with good time management skills, and be able to comfortably multi-task in an environment of rapidly changing priorities. The
candidate must be proficient with most of the commercially available
software pertaining to the job including Word, Excel, Outlook, and
Powerpoint. Travel will be required for road shows and conferences.
We thank all applicants, but only those selected for an interview will be contacted.
www.rubiconminerals.com
$11.90 per agate line.
Minimum size 1" x 2 columns $333.20.
Closing date is 10 days prior to publication date.
All Cdn. orders subject to applicable taxes.
For further Careers advertising information contact:
Qualified candidates should send their resumes to
[email protected]
referencing “Manager-Investor Relations” in the subject line.
We thank all who apply but only candidates selected for interviews
will be contacted.
Aurizon Mines
NioGold will be the operator
during the initial earn-in period
and Aurizon will weigh in on the
exploration program. Aurizon will
become the operator after it earns
its half in the project.
David Hall, Aurizon’s chief executive, noted the arrangement
with NioGold was part of its
strategy to put together a portfolio
of properties at various stages of
development to complement the
company’s gold projects: Casa Berardi and Joanna.
Aurizon’s priority at Marban will
be extending resources that can
potentially be mined by open pit.
A December 2009 resource estimate on the Marban Block included
in a report prepared for NioGold in
March by Michael Gustin of Mine
Development Associates in Reno,
Nev., outlined indicated resourc–
es of 598,000 oz. gold and inferred
resources of 361,000 oz. gold.
According to Gustin’s report, resources have been defined along a
3-km portion of the NorbeniteMarbanite fault zone, in and
around the former Marban, Nor-
Please send your resume to email: [email protected]
CAREERS ADVERTISING RATES
An attractive compensation package will be offered to the successful
candidate.
AURIZON, From Page 3
Rubicon Minerals offers competitive wages and an attractive incentive package.
Remuneration will be commensurate with experience.
Reprints of any article published
in The Northern Miner or on our
website are available.
We will provide them in
a “PDF” format for $300.
[email protected]
416-510-6768
lartic and Kierens gold mines,
which collectively produced about
600,000 oz. gold.
The report divided Marban’s
resources between open pit and
underground. At a 0.5 gram gold
cutoff grade, Gustin estimated
open-pit indicated resources of 6
million tonnes grading 1.6 grams
gold for 303,000 oz. contained
gold, and inferred resources of 4.4
million tonnes at 1.3 grams gold
for 179,000 oz. contained gold.
Underground resources were
calculated using a 2.5-gram gold
cutoff grade and reached 2.1 million tonnes at 4.3 grams gold for
296,000 oz. contained gold in the
indicated category, and an additional 1.5 million tonnes grading
3.9 grams gold or 182,000 oz. gold
in the inferred category.
At presstime, Aurizon was trading at $5 per share. The company
has a 52-week trading range of
$3.63-$5.98 and 159.56 million
shares outstanding.
NioGold shares were 28¢, trading within a 52-week band of 17¢42.5¢. The junior has 72.87 shares
outstanding.
Michael Winter:
Tel: (416) 510-6824,
Fax: (416) 510-5138
ontario.ca/careers
REGIONAL LAND USE GEOLOGISTS
Southern & Northeastern Ontario
The Ministry of Northern Development, Mines and Forestry
seeks two professional geoscientists with APGO certification
(or equivalent) and demonstrated experience with geoscience
and mineral exploration principles and practices. Locations:
South Porcupine (1 position); Toronto or Tweed (1 position).
Please visit our website to view detailed job information,
including qualifications and salary, and to apply online, quoting
Job ID 27668, by Aug. 16, 2010.
Canada: 1-800-268-7742, ext. 6824,
USA: 1-800-387-0273, ext. 6824.
Email: [email protected]
Goldcorp invests
$15.6M in Evolving Gold
GOLDCORP, From Page 3
“We plan to do the hard work
and use this money effectively and
make what could be a very huge
discovery,” Hennigh says.
Located around and adjacent to
the Carlin property, the 93-sq.-km
Humboldt land was acquired by
Evolving in early May, bringing
the total Carlin-area land holdings
to 137 sq. km.
Evolving has the option to earn
a 100% interest in Humboldt by
spending US$9.7 million over
four years — a much better deal
for Evolving than the Carlin
property, which includes significant claw back provisions for
Newmont.
“It positions us better in terms
of any exploration done. We stand
to gain much more now,” Hennigh
says. “We know there is gold mineralization in this area and we feel
pretty good of our odds of finding
a discovery on the property.”
Evolving is currently drilling in
both Nevada and Wyoming. The
company has budgeted about $4
million for Nevada with five or six
holes planned for Humboldt and
two or three holes for the Carlin
property, each between 700 metres and 1,200 metres deep.
Last year, Evolving drilled about
5,000 metres spread across two
deep test holes and two mid-level
test holes.
For the rest of the drilling, Evolving plans to test some new targets
that were identified by surface
sampling and mapping in 2009.
All the targets are located within
a 2-km radius of North Stock and
Antelope Basin.
The company drilled 78 holes
there last year amounting to
nearly 30,000 metres and 15 holes
Evolving has the option to earn a
100% interest in Humboldt by spending
US$9.7 million over four years.
Evolving is drilling now at Humboldt. The company has outlined
16 targets based on a geophysical
survey.
In Wyoming, Evolving has also
started a 20,000-metre drill program at Rattlesnake Hills where
about 60% of the drill budget will
focus on infill and step-out drilling
around the North Stock and Antelope Basin zones.
(6,500 metres) in 2008.
Evolving is expecting a National
Instrument 43-101 technical report
update on Rattlesnake Hills to
come out shortly.
Much of the company’s exploration strategy comes from the
AMEC technical report that has
yet to be released. Hennigh expects the report will be complete
by the end of July.
THE NORTHERN MINER AUGUST 2-8, 2010 11
Cliffs adds new coal mines in W. Virginia
BY TRISH SAYWELL
Cliffs Natural Resources’ (clf-n)
US$757-million acquisition of INR
Energy, a private equity firm with
producing metallurgical and thermal coal mines in West Virginia, is
part of the company’s long-term
belief in metallurgical coal as a
scarce mined commodity and
“probable choke point” for global
steel production, president and
chief executive Joseph Carrabba
told mining analysts and investors
on a recent conference call.
“We believe this scarcity is
going to result in met coal pricing
for all grades staying strong for at
least the intermediate term,” he
said. “Nowhere is this trend becoming more evident than our current North American coal business, where a strong pricing
environment is expected to produce well over US$100 million of
sales margin for Cliffs in 2010 and
assuming a price rollover and our
expansion plans, possibly triple
that in 2011.”
INR Energy’s operations in
southern West Virginia consist of
the Toney Fork No. 2 thermal coal
open-pit mine and the Powellton
and Chilton-Dingess Branch underground metallurgical coal
mines. Two other underground
metallurgical mines are under development. In addition, there is the
Saunders wash plant (4 million
short tons per year built at a cost of
about US$42 million) and the Elk
Lick load-out facility, which accesses the CSX railroad. The coal
could be transported by rail to the
port of Norfolk, Va., or trucked to
a wholly-owned river-loading facility on the Big Sandy River and
barged along the Ohio River system to the port of New Orleans for
export.
“Over the last several years,
we’ve communicated to our shareholders and the investment community our desire to grow as a diversified mining company by
expanding our steel-making raw
materials portfolio,” Carrabba said,
adding that the company’s coal
acquisitions since 2007 bring “a
suite of products to sell throughout the steel cycle as different
grades of coal fall in and out of demand.”
Cliffs’ initial foray into seaborne
coking coal came in January 2007
with its purchase of a 45% stake in
the Sonoma coal project in Australia. Situated in the northern limit of
Queensland’s Bowen basin coalfields, the project is owned by privately-held QCoal, an Australian
coal company. Under that deal,
Cliffs agreed to invest about
US$109 million to build a wash
plant and acquire mining assets
and rights. Cliffs operates and
owns 100% of the wash plant and
8.3% of the mining leases, bringing
its total economic interest in the
NOTICE TO OUR READERS:
To make room for more stories, we will
no longer be printing a weekly list of
companies that reached new 52-week highs or lows.
Please note that the daily list of new 52-week highs and
lows remains available after 5 pm ET of each trading day
on our homepage at www.northernminer.com.
We apologize for any inconvenience.
BID-ASK — JULY 19-23, 2010
STOCK
Agau Res
Anglo-Bomarc
Aroway Mnls
Asbestos Corp
Atlantic Ind M
Boss Power
Brazauro Res
Cannon Pnt Res
Caribou Copper
Celtic Mnrls
Cluff Gold
Comaplex Mnrl
Comet Inds
Crazy Horse Rs
Cream Mnrls*
Crown Mnls
Defiance Captl
El Tigre Silvr
Empire Mng
Encore Ren Res
Escape Gold
First Source R
Gee-Ten Vent
Goldstake Exp
Hansa Res
Huldra Silver
Inlet Res
Inter-Rock Mnl
Iron Creek Cap
Jerico Expl
Karmin Expl
Lions Gate Mtl
Louvem Mines
Lucky Mnls
Lysander Minls
Marengo Mng
McChip Res
Menika Mining
Milner Con Slv
Minaurum Gold
Nord Res
Nordex
Northquest
NV Gold
NWT Uranium*
Nyah Res
Oro Nevada Res
Pac Casc Minls
Philex Gold
Proam Expl
Prophecy Res
Queensland Mnl
RJK Explor
Rocky Mtn Res
Rolling Rock
Salares Lithm
Sheltered Oak
Stratabd Mnr
Taranis Res
Tearlach Res
Tiger Intl
Tiger Res
Touchdown Cap
Tr-River Vent
Trillium North
Underworld Res
Urastar Energy
Vault Minerals
Verbina Res
Verona Dev
West Hawk Dev
Whetstone Mnls
White Canyon U
Wolverine Mnls
WorldStar Egy*
Zeox
Zoloto Res
12-MONTH
EXC
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BID
0.08
0.09
0.22
0.16
0.05
0.12
1.22
0.10
0.05
0.05
1.15
10.25
1.80
0.70
0.06
0.08
0.36
0.21
0.16
0.11
0.15
0.08
0.16
0.02
0.04
0.31
0.21
0.05
0.31
0.45
0.17
0.73
0.60
0.18
0.17
0.05
1.04
0.01
0.28
0.64
0.10
0.41
0.30
0.15
0.01
0.08
0.05
0.01
0.72
0.08
0.60
0.20
0.04
0.50
0.10
0.65
0.09
0.08
0.11
0.04
0.30
0.04
0.07
0.35
0.03
2.54
0.28
0.45
0.13
0.05
0.01
0.02
0.06
0.16
0.55
0.10
0.03
ASK
LAST
HIGH
LOW
0.12
0.10
0.23
0.20
0.09
0.14
1.30
0.14
0.12
0.06
1.49
10.70
2.25
0.94
1.01
0.09
0.45
0.25
0.20
0.12
0.20
0.14
0.24
0.03
0.05
0.37
0.26
0.06
0.39
0.60
0.19
0.82
1.11
0.35
0.23
0.16
1.12
0.03
0.40
0.70
0.12
0.55
0.46
0.21
0.77
0.10
0.07
0.01
0.75
0.12
0.62
0.35
0.05
0.57
0.12
0.66
0.09
0.09
0.17
0.04
0.55
0.23
0.08
0.45
0.03
2.73
0.37
0.48
0.18
0.06
0.01
0.03
0.16
0.22
1.01
0.12
0.04
0.12
0.09
0.22
0.15
0.06
0.12
1.23
0.10
0.12
0.05
1.35
10.34
1.50
0.69
0.07
0.09
0.36
0.25
0.17
0.12
0.17
0.07
0.24
0.03
0.05
0.31
0.21
0.04
0.33
0.45
0.19
0.76
0.90
0.34
0.20
0.08
1.14
0.02
0.30
0.64
0.12
0.46
0.40
0.21
0.20
0.08
0.06
0.06
0.74
0.09
0.60
0.26
0.04
0.50
0.12
0.62
0.08
0.09
0.11
0.04
0.41
0.20
0.07
0.35
0.03
2.58
0.35
0.46
0.16
0.05
0.01
0.03
0.14
0.22
0.05
0.12
0.03
0.18
0.16
0.30
0.34
0.12
0.20
1.46
0.19
0.17
0.07
1.40
11.44
2.25
1.75
0.17
0.22
0.48
0.35
0.27
0.22
0.22
0.10
0.55
0.06
0.15
0.40
0.47
0.09
0.50
0.60
0.40
1.43
0.95
0.37
0.55
0.28
1.60
0.06
0.54
0.95
0.65
0.61
0.79
0.45
0.50
0.14
0.14
0.06
0.75
0.17
0.99
0.60
0.09
0.93
0.25
1.22
0.15
0.24
0.30
0.05
0.55
0.30
0.26
0.54
0.07
2.95
0.55
0.49
0.41
0.08
0.03
0.12
0.25
0.28
0.55
0.35
0.03
0.04
0.05
0.10
0.11
0.04
0.10
0.47
0.10
0.06
0.05
0.90
0.001
1.10
0.28
0.03
0.03
0.20
0.19
0.10
0.05
0.06
0.05
0.10
0.001
0.05
0.12
0.20
0.04
0.26
0.31
0.15
0.60
0.001
0.12
0.14
0.05
1.00
0.02
0.20
0.25
0.001
0.30
0.40
0.20
0.01
0.01
0.06
0.06
0.001
0.07
0.001
0.09
0.04
0.25
0.08
0.46
0.07
0.05
0.08
0.01
0.20
0.10
0.06
0.14
0.03
0.001
0.02
0.001
0.11
0.05
0.001
0.03
0.13
0.14
0.01
0.09
0.001
project to 45%. Production is an
equal mix of hard coking coal and
thermal coal.
That investment was followed
in June 2007 with the purchase of
PinnOak Resources, a privately
owned U.S. producer of highquality, low-volatile metallurgical
coal. Cliffs acquired the operations for US$450 million in cash
plus about US$150 million in debt.
Pinn-Oak consists of two complexes comprised of three underground mines — the Pinnacle and
Green Ridge mines in southern
West Virginia and the Oak Grove
mine near Birmingham, Ala. Pinnacle has been in operation since
that are five year’s out.”
The purchase will be financed
with cash on hand and the company’s US$600-million credit facility.
While the acquisition “is slightly
dilutive to 2011-2012 valuation,”
says Mark Liinamaa of Morgan
Stanley, Cliffs “is an interesting
value play on a recovery of steel
fundamentals we see beginning
in 4Q.”
Liinamaa points out in a research
note that INR’s met coal mines
produce a mix of about one-third
“A” quality high volume and twothirds “B” (lower) grade, and that
the deal “expands Cliffs’ met coal
footprint to as much as 8 million
The INR purchase will be financed
with cash on hand and the company’s
US$600-million credit facility.
1969. The Green Ridge mine
opened in 2004, while the Oak
Grove mine has been in operation
since 1975.
The latest coal acquisition
brings with it new customers and
further exposure to the seaboard
market. More than half of INR
Energy’s coal production last year
was exported.
What’s more, the purchase did
not involve “taking on a legacy
of liabilities” that can be typical
in acquisitions of coal mines, management emphasized. Production
began in 2008 after an INR Energy
investment of US$200 million.
“INR acquired these assets in
2007 so everything here is new,”
says Donald Gallagher, president
of Cliffs’ North American business unit. “We’re coming into a
mine that is greenfield and what
you see is what you get, no legacies. There is no tail on this. . . so
we’re pretty confident on this one.”
In addition, a significant amount
of permitting work has been done
already. Says Carrabba: “About
one-third of reserves are under
permit so that gives us plenty of
time to start permitting processes
tonnes per year by 2012 from a
previous projection of 5.6 million
tonnes.” He estimates Cliffs’ earnings before interest, taxes, depreciation and amortization (or
EBITDA) from its coal segments
increases to 21% of total 2012
EBITDA from 18%.”
Cliffs forecasts that the volume
of INR Energy’s high-volatile
metallurgical coal in 2011 will
reach 1.7 million tons, of which
200,000 tons are committed and
priced at US$100 per ton FOB
(free on board) mine. Total 2011
production of thermal coal is expected to reach 1.2 million tons,
of which 500,000 tons are committed and priced at US$66 per ton
FOB mine.
“Assuming current market pricing of about US$140 and US$75
per ton FOB mine for uncommitted high-volatile metallurgical
and thermal coal production, respectively, and expected cash
costs of about US$70 per short
ton, the acquisition is expected to
contribute significantly to Cliffs’
revenue and EBITDA,” the company outlined in a statement announcing the acquisition.
In 2011, Cliffs expects the business will raise about US$300 million in revenue and US$100 million in EBITDA, and that those
numbers will rise to over US$400
million in revenue and about
U S$175 million in EBITDA in
2012.
Cliffs will expand INR Energy’s
production of high-volatile metallurgical coal to 2.4 million tons
by 2012, increasing the company’s
total global equity coal production
in the future to nearly 11 million
tons split between 8 million tons
metallurgical and 3 million tons
thermal. INR Energy’s reserves
bring Cliffs’ total global reserve
base to more than 175 million tons
of metallurgical coal and over 57
million tons of thermal coal.
Tony Robson, who covers Cliffs
for BMO Nesbitt Burns, believes
the impact of the acquisition is
mixed. “BMO Research estimates
Cliffs paid a full price for the INR
assets, with net present value increasing by only US$80 million or
US59¢ per share,” he wrote in a
note to clients. “The acquisition
logic appears to be highly dependent on strong met coal prices
going forward, as FOB cash costs
are estimated by BMO at a relatively high US$94 per tonne for
thermal coal and US$116 per tonne
for met coal. Cliffs, however, does
gain export capacity through
INR’s rail and port access, reducing its dependence on the North
American market.”
Robson asserted that the INR
acquisition is “generally neutral” to
the company’s valuation, which increased by less than 1% to US$82.69
per share from US$82.10 per share.
“A more accretive transaction,” he
continued, “would be to buy back
its own heavily discounted stock.”
Robson has a one-month target
price on the stock of US$90 per
share. At presstime, Cliffs was
trading at US$51.14 apiece. Over
the last year, the Cleveland-based
company has traded between a
low of US$19.91 (July 13, 2009) and
a high of US$76.17 (April 6, 2010).
Kaminak extends
Latte zone at Coffee
Results from four new step-out
holes drilled on the Latte zone at
Kaminak Gold’s (kam-v) Coffee
property in the Yukon returned
encouraging intercepts including
2.35 grams gold per tonne over 51
metres and 1.27 grams gold over 78
metres.
“It’s not very often you drill your
first seven holes and hit mineralization in every one, over a 400metre strike length and open in
every direction,” Robert Carpenter, Kaminak’s president and chief
executive, said during a live webcast in Vancouver following the
recent drill results. “And we
haven’t even gotten to drilling the
best soil anomaly on Latte yet.”
Hole 9 cut 1.12 grams gold over
40 metres with the hole beginning in mineralization, hole 10 returned 3.71 grams gold over 16 metres starting at a depth of 119
metres. Hole 11 yielded 2.35 grams
gold over 51 metres from a depth of
38 metres and hole 12 returned
1.27 grams gold over 78 metres
from 24 metres, plus a newly recognized high-grade deep zone
yielded 17.4 grams gold over 1
metre starting from 176 metres
depth.
Carpenter added that he believes mineralization at the Latte
zone, and the company’s nearby
Supremo gold zone, “is of the
same pedigree as the mineralization at Golden Saddle.” Underworld Resources discovered that
deposit and was later bought by
Kinross Gold (k-t, kgc-n) for
$140 million. “Underworld did
a great job of outlining a deposit…
and that bodes well for the greenfield nature of this area,” says Carpenter.
“We’ve been able to walk into
the Yukon and within a year make
several discoveries within two
months,” he continued, adding that
the company’s threshold is in the
million- oz. range and “if we didn’t
think there was that potential we
wouldn’t be here.”
Kaminak discovered the Latte
zone below a 1-km linear gold-insoil anomaly.
Ground magnetic surveys hint
that the mineralization continues
below deeper soil cover beyond
the 1-km soil anomaly. The structure is also coincident with strong
gold-in-soil anomalies at the Kona
zone, 6 km to the west of Latte,
Kaminak says and infill soil sampling between Kona and Latte is
now underway.
The Latte zone “is associated
with a regionally significant, eastwest trending structural corridor
coincident with a 1-km long by
100-metre wide gold-in-soil anomaly,” the company said in a press
release announcing the drill results.
The latest holes were drilled
facing north and tested the strike
extent of gold mineralization
that Kaminak discovered in the
spring. The gold at Latte is hosted
in ribbon-quartz mylonite, quartzfeldspar-muscovite schist and
breccia.
Kaminak believes the alteration
mineralogy and chemistry is consistent with other significant discoveries in the White District, including the Supremo zone.
So far, 21 holes have been drilled
on the Coffee property (seven of
them at Latte) and further assay
results from the Double-Double
zone and the Supremo zone are
pending.
Kaminak is mobilizing a second
drill for the Latte zone, which arrived at the property on July 7.
News of the drill results sent
Kaminak shares up 6¢ to $1.42.
Over the last year, the junior has
traded in a range of 30¢-$1.70, with
46.83 million shares outstanding.
Says Carpenter: “I own one million shares of the company and
have put a lot of my own money
into this. When you buy Kaminak,
you are buying Rob Carpenter.”
12 AUGUST 2-8, 2010 THE NORTHERN MINER
ProfessionalDirectory_111109.pdf
PROFESSIONAL DIRECTORY
11/11/09
9:43:12 AM
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5/31/10
C RONE G EOPHYSICS
1859 COFFEY Northern Miner Classified ad_final.indd 1
9:35 AM
6/8/08 11:44:59 AM
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THE NORTHERN MINER AUGUST 2-8, 2010 13
PROFESSIONAL DIRECTORY
Horizontal Magnetic Gradient
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Place YOUR
Professional Directory Ad Here In
The Northern Miner Professional Directory
Professional Directory continued on page 14
14 AUGUST 2-8, 2010 THE NORTHERN MINER
PROFESSIONAL DIRECTORY
RECRUITING
CONSTRUCTION MANAGEMENT
Project and
Construction
Management
New, Rebuilds
Fast Track
Greenfield
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LABORATOIRE D’ANALYSE BOURLAMAQUE LTÉE
BOURLAMAQUE ASSAY LABORATORIES LTD.
CORE SYSTEM
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148 Perreault Avenue
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Established
in 1993,
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METALLURGICAL SERVICES
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AVIATION
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Sudbury • Timmins • Chapleau
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Harrison Western Construction
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Mine Development
Underground Mine Construction
Mine Rehab & Repair
Newsstand Availability
MOST CHAPTERS/INDIGO
BOOK STORES SELL THE NORTHERN
MINER. IF YOUR LOCAL CHAPTERS/
INDIGO DOES NOT CARRY THE
NORTHERN MINER, SIMPLY REQUEST A
WEEKLY COPY AND IT WILL BE ORDERED
FOR YOU.
To reserve space for your advertisement in the
Professional Directory contact:
Brian Warriner: 416-510-6771,
Joe Crofts: 416-510-6816
Michael Winter: 416-510-6824
Canada Toll Free: 1-800-268-7742,
(ext. 6771 / 6816 / 6824)
U.S.A. Toll Free: 1-800-387-0273,
(ext. 6771 / 6816 / 6824)
Fax: 416-510-5138
THE NORTHERN MINER
Marathon PGM hits
more gold at Leprechaun
Marathon PGM (mar-t) shares
were up more than 10% on July 21
after the company posted results
from its latest round of drilling at
the Leprechaun gold deposit in
central Newfoundland.
The best intercept was hole 190
with 4 metres grading 33.5 grams
gold per tonne (uncut) demonstrating a new lens of high-grade mineralization (true width is 2.65 metres).
MEETINGS
Jul 28
Jul 28
Jul 29
Jul 29
Jul 30
Jul 30
Aug 04
Aug 05
Aug 06
Aug 06
Aug 06
Aug 06
Aug 09
Aug 09
Aug 10
Aug 10
Aug 10
Aug 11
Aug 11
Aug 11
Aug 11
Aug 11
Aug 11
Aug 12
Aug 12
Aug 12
Aug 12
Aug 12
Aug 12
Aug 12
Aug 13
Aug 15
Aug 16
Aug 17
Aug 17
Aug 17
Aug 17
Aug 17
Aug 17
Aug 19
Aug 19
Aug 19
Aug 19
Aug 19
MBMI Resources
Slam Exploration
Adex Mining
Horseshoe Gold Mining
First Source Resources
Lomiko Metals
Bold Ventures
New Oroperu Resources
Carmax Explorations
Orsa Ventures
Playfair Mining
Rupert Resources
First Metals
Starrex Mining
Condor Resources
Randsburg Int’l Gold
Taranis Resources
Brett Resources
CAE
Great Western Minerals
Linux Gold
Rugby Mining
White Bear Resources
G4G Resources
Gold Canyon Resources
Green Valley Mine
Hana Mining
Int’l Tower Hill Mines
Menika Mining
Rattlesnake Ventures
JNR Resources
Trio Gold
Megastar Development
Crown Minerals
Gold Summit
Grande Cache Coal
Quest Capital
Tiex
Vega Gold
Int’l Northair Mines
Mega Moly
Serengeti Resources
Tres-Or Resources
Victoria Gold
AG
A
AS
AG
S
AG
AGS
AG
S
AG
AG
AG
AS
AG
AG
AGS
AG
S
A
AGS
AG
A
S
AG
S
AG
S
S
AG
AS
A
AG
AGS
AGS
AS
AGS
S
AS
AGS
AG
AGS
AG
AG
AG
MEETINGS LEGEND
A – Annual
E – Extraordinary
G – General
S – Special
EVENTS
Aug. 15-18 Uranium 2010 -- Delta
Bessborough & Sheraton Cavalier Hotels,
Saskatoon, Sask. Tel. 514-939-2710 Email:
[email protected] Website: www.metsoc.
org/U2010
Sept. 22-23 5th Annual EU Iron Ore Insights
Conference -- The Bloomsbury Hotel,
London, U.K. Tel. 61 2 9080 4313 Email:
[email protected] Website:
http://www.immevents.com
Sept. 25-26 Toronto Resource Investment
Conference -- Metro Toronto Convention
Centre, Toronto Tel. 877-363-3356 Email:
[email protected] Website:
www.cambridgehouse.ca
Oct. 3-6 COM2010 -- Hyatt Regency
Vancouver, Vancouver Website: www.
metsoc.org/COM2010
Oct. 6-8 Colombia Mining 2010 - 6th
International Mining Show -Plaza Mayor Convention Centre, Medellin,
Colombia Tel: (57-4) 383-8636 / (57-4)
383-8632 Email: ana.aguilar@antioquia.
gov.co Website: http://www.
miningcolombia.com/
Oct. 25-26 Mining Matters 2010
Conference -- Westin Hotel, Halifax, N.S.
Tel: 902-424-3053 Email: webberde@gov.
ns.ca Website: http://www.tmans.ca/
Oct. 25-27 MENA Mining Congress 2010 -Shangri-La Hotel, Dubai, U.A.E Tel:
971(0)4440-2506 Email: prima.castelino@
terrapinn.com Website: http://www.
terrapinn.com/2010/miningme/
Nov. 8-9 Zinc Processing ‘10 -- Vineyard
Hotel, Cape Town, South Africa Tel.
00447768234121 Email: bwills@min-eng.
com Website: www.min-eng.com/
zincprocessing10/index.html
Nov. 10-12 Process Mineralogy ‘10 -Vineyard Hotel, Cape Town, South Africa
Tel. 00447768234121 Email: [email protected] Website: www.min-eng.com/
processmineralogy10/index.html
For more event information,
please go to:
www.northernminer.com/events/
Marathon PGM shares were up
16¢ to $1.60 apiece, basically mirroring recent share price movement from other Leprechaun drill
results. Recent drilling pushed
shares up 10¢ to $1.58 on July 5 and
25¢ to $1.70 apiece on June 15.
The company is in the middle of
an 8,000-metre drill program at
Leprechaun, which is a 300-metrewide by 2-km-long deposit with
inferred resources of 443,000 oz.
gold contained in 1.2 million
tonnes grading 10.5 grams gold.
The deposit is a part of the Valentine Lake gold project. Marathon
has an option to earn a 50% interest in the project from Mountain
Lake Resources (moa-v).
Other drilling highlights include
hole 184 with 14 metres (13.8 true
width) of 2 grams gold and hole 185
with 7 metres (both core and true
width) grading 5.79 grams gold.
Marathon PGM also noted that
grab samples had returned grades
between 49 grams and 79 grams
gold, confirming the 300-metrewide deposit is open to the southwest. The company has only done
detailed drilling for about 550 metres on strike.
Gold is hosted by sub-horizontal and steeply dipping quartz-tourmaline-pyrite veins that occur
within a major regional fault zone
that strikes for more than 30 km
across the Valentine Lake project.
The company says the best intervals occur at intersections of subhorizontal and steeply dipping vein
sets.
Directory
Website
Associations
E-Mail
Publications
PROSPECTORS AND DEVELOPERS
ASSOCIATION OF CANADA
CANADIAN MINING JOURNAL
www.canadianminingjournal.com
www.pdac.ca
[email protected]
The NATIONAL POST
www.nationalpost.com
Canadian Exploration and Development Voice
Governments
MANITOBA INNOVATION, ENERGY AND
MINES
Manitoba — Your Exploration Frontier
The Northern Miner
North America’s Mining Newspaper
www.northernminer.com
[email protected]
www.manitoba.ca/minerals
[email protected]
Mining Companies
SNIPER RESOURCES
From The People Who Brought You TONE Resources. Prospectus on SEDAR for New IPO
www.sniperresources.com
[email protected]
VINEYARD GULCH RESOURCES LLC
Historic Property Located Near Gibbonsville,
Idaho
To Place your Website/E-mail Directory
Listing here call:
Brian Warriner (416) 510-6771
Joe Crofts (416) 510-6816
Michael Winter (416) 510-6824
Canada Toll Free 1-800-268-7742
(ext. 6771 / 6816 / 6824),
U.S.A. Toll Free 1-800-387-0273,
(ext. 6771 / 6816 / 6824)
www.vineyardgulchllc.com
Vancouver — Scorpio Gold
(sgn-v) has released the first compliant resource estimate for its
Mineral Ridge gold project almost
a year after completing its initial
due diligence on the property.
Various owners operated the
southwest Nevada-based project
as an open pit between 1989 and
2005, while it was an underground
operation before that. So far, almost 575,000 oz. gold have been
produced from the site.
Scorpio is looking to restart Mineral Ridge. It’s working through a
drill program to confirm historic
data on the site, while both expanding and defining the resource.
The newly released resource
estimate on the project covers the
historic Drinkwater and Mary pits.
The estimate contains 4.23 million
indicated tonnes grading 1.46
grams gold per tonne for 221,000
contained ounces gold and 3.44
million inferred tonnes of 1.12
grams gold for 136,000 oz.
Scorpio owns 70% of the project
through a joint venture finalized in
January with Golden Phoenix
Minerals (gpxm-o). Scorpio is responsible for the cost of restarting
the project, and paid Golden
Phoenix US$7 million in cash and
shares.
The company also spent US$3
million buying an 8% net smelter
return royalty on the gold project
from Mary Mining Trust last
October.
Golden Phoenix has provided a
US$3-million bond, and the project
is permitted for heap-leach gold
processing and production. The
property has a heap-leach pad,
JINSHAN, From Page 11
of 6,000 tonnes per day. The
operation will produce a copper
concentrate with gold and silver
credits and a molybdenum concentrate.
According to a recent article by
the government-owned Xinhua
Directory
DIAMOND DRILLING CONTRACTOR
1275 Jules Brisebois
Val-d’Or, Quebec (Canada) J9P 6X3
Phone: (819) 825-4079 Fax: (819) 825-4028
Email: [email protected]
PAYMENT WITH ORDER. CHEQUES, VISA, AMEX OR MASTERCARD.
CORTEZ TREND NEVADA Two projects
available for lease. (1) Battle Mt style,
intrusive-hosted copper gold system with
geophysics and confirmatory drilling by
Major. (2) AuEx Long Canyon style sedhosted gold with geophysics and drilling.
Ken Brook – 775 825 0719 or k.brook@
att.net.
j
DIAMOND DRILLS FOR sale. 1-LY 38
-20’steel tower, rebuild 4239t JD engine,
hyd wire line, hyd 420 p pump, mud mixer, new steel shack, hyd wheels for ease
of moving. in new condition. 1-BBS56 -6
cyl JD engin, 12 HH, hyd 435 p pump,
30’ certified tower, LY break-out tool, new
steel shack with hyd wheels. In excellent
condition. ph #250-417-0058 Leclerc
Drilling Ltd
h
“KOREX” CORE RACKS. Treated lumber
and galvanised tubing for added durability. Core racks hold 140 boxes. Often
next day delivery with our own trucks
in all of Ontario. No freight charges on
large orders. Call Peter at Imexko Contracting, Geraldton ON. 807-854-0462 or
cell 807-854-7639. E-mail info@imexko.
ca or please visit our website www.
imexko.ca
f
Member of
www.g4drilling.com
STEEP TERRAIN, DANGEROUS terrain,
glaciated terrain sampling, mapping,
prospecting Field Crew available now for
projects worldwide, spanish speaking,
professional climber, high altitude experience Alpamayo Explorations 705-9466054 www.alpamayo.ca
h
The Northern Miner’s Box Service is available at the cost of
$22.60 Cdn per insertion
Branch Office: Boulevard de Las Galaxias 57
Parque Industrial, Hermosillo, Mexico
Phone: (662) 251-0627 Fax: (662) 251-0631
Email: [email protected]
Claude Laframboise
Earlton, ON P0J 1E0
705-563-8526 Office, 705-563-2803 Fax
705-648-0573 Mobile
[email protected]
Services
INTERNET SEARCHES OF assessment
records for unstaked high grade gold
and other minerals by computer science
graduate. Golden Canadian Ltd. Phone
(204) 488-4121. E-mail [email protected].
m
news agency, China National Gold
has reportedly completed the first
phase of the project. A subsidiary
of China National Gold, Tibet
Huatailong Mining Development
Co., started building the US$1.2billion project in 2008, the government-owned news agency said.
DRILLERS
Deadline for submission of classified ads is 5:00 pm Thursday the week prior to publication date.
500 TON LIQUIDS Terminal 5 tanks @
20,000 gal., 6 @ 6,000 Loading Rack,
Pumps, Filters, Electrics Truckable,
MINT condition 50 other tanks, at same
site www.801tanks.com 416 346 3940 h
crushing circuit and adsorptiondesorption-recovery plant, which
the company describes as in “fair
to good condition.” The site also
has road access, power lines and
water wells.
The land package currently
spans 41.2 sq. km over 351 claims
following an extensive expansion by Scorpio in February. The
known mineralization zones occur
over an area roughly 4.3 km northsouth and 4.6 km east-west, with
deposits consisting of structurally controlled epithermal gold
mineralization associated with
quartz veins and veinlets.
Scorpio has the option of earning a further 10% in the joint venture by taking the project to commercial production within 30
months of closing the agreement
with Golden. Scorpio can earn the
final 20% needed for full ownership by buying Golden’s remaining
stake within 2 years after starting
production. The price of Golden’s
share will be based on the net asset
value of the project minus a 10%
discount.
In March, Scorpio closed a
$12.5-million private placement,
selling 27.8 million units at 45¢
each. Each unit contains one share
and one half warrant, with a full
warrant redeemable at 60¢ until
Sept. 10, 2011.
In June, roughly 4.5 million warrants were exercised, bringing another $2.7 million to the company’s
coffers.
Scorpio’s stock price closed at
73¢ on news of the recent resource.
The company has 45 million
shares outstanding.
Jinshan goes native
Small Ads — One insertion $1.82 Cdn per printed word; three or more consecutive
insertions, same advertisement, $1.55 Cdn per printed word. Minimum charge $54.60
Cdn per insertion. Approximately five words to a printed line. Box service $22.60 Cdn
additional per insertion, replies mailed. All ads must be typed & submitted by fax or
email to: Michael Winter Fax 416-510-5138, [email protected].
Your Classified ad will also appear on our web site at no extra charge.
Properties Available
15
Scorpio gets Mineral
Ridge resource
CLASSIFIED
Equipment For Sale
AUGUST 2-8, 2010
Surface
diamond drilling
Experienced Drillers, Competitive Rates,
Professional Service
RR #6, 615 Hwy 130
Thunder Bay, Ontario P7C 5N5
Tel: 807-577-5399 Fax: 807-577-0558
Cell: 705-498-9056
email: [email protected]
website: www.northstardrilling.com
To advertise in the Drillers columns call:
Brian Warriner (416) 510-6771, Joe Crofts (416) 510-6816,
Michael Winter 416-510-6824,
Canada Toll Free 1-800-268-7742, (ext. 6771 / 6816 / 6824),
U.S.A. Toll Free 1-800-387-0273, (ext. 6771 / 6816 / 6824)
16 AUGUST 2-8, 2010 THE NORTHERN MINER
Luiri Gold ups resources
at Luiri Hill
As Luiri Gold (lgl-t, lgm-a)
awaits clarity on the future of the
mining licence it holds on its Luiri
Hill gold project in Zambia, it has
converted more inferred resources into the indicat–ed category at the project, 120 km northwest of the Zambian capital
Lusaka.
At a 0.5-gram-gold-per-tonne
cutoff, indicated resources at the
Matala and Dunrobin gold deposits
now tally a combined 5.4 million
tonnes grading 2.4 grams gold
per tonne for contained gold of
422,000 oz., and 5.01 million
tonnes of 2.4 grams gold for
386,000 oz. gold in the inferred
category.
The Matala deposit was mined
from 1928 to 1941, with an estim­
ated 6,751 oz. gold recovered over
that period from 12,421 tonnes with
an average grade of 16.9 grams gold
from underground operations.
The deposit lies within a tabular,
south-dipping zone extending
over a strike of 1,000 metres. The
average dip of the mineralization
zone is estimated to be 65 degrees
to the south and the width of the
mineralization ranges from a few
metres to over 40 metres.
Dunrobin was similarly mined
from 1928 to 1941, with an estimated 31,593 oz. gold recovered
from 91,173 tonnes grading 10.8
grams gold from a small open pit
and underground operations.
There was no change in the Dunrobin resource estimate in the
updated figures the company released on July 7.
The Dunrobin deposit is a shallow thick tabular plunging ore–
body dipping at about 30 degrees to
the southwest on the contact between the Matala Dome (schists
and quartzites) and the surrounding Lusaka Formation carbonates.
Over the last three years, exploration has increased the project’s
resource base at a discovery cost of
less than US$10 per oz., the company states on its website. Initial
metallurgical work suggests the
gold is recoverable through conventional gravity and carbon-inleach methods.
On June 14, Luiri Gold received
a letter from Zambia’s Director of
Mines alleging that it was in default
of provisions made in the granting
of mining licence (LM48), which
covers about 28 sq. km and includes the historic Dunrobin and
Matala mines.
Luiri Gold says according to its
records and legal counsel, it is in
compliance with all of the provisions of its mining licence. It has
60 days to show that it is not in
default.
In addition to its Zambian gold
assets, Luiri Gold owns 100% of
the Nambala iron project, 20 km
west of Luiri Hill. Nambala contains hematite iron with grades of
up to 70%. Nambala lies within a
belt including several iron-rich
hills that together form the Nambala Range, which is about 25 km
in length and rises to more than
260 metres above the surrounding plains.
On the update resource news,
Luiri Gold shares closed up 4¢ or
25% at 20¢. The company has a 52week trading range of 7¢-40¢ and
105.2 million shares outstanding.
Energizer’s vanadium
hunt at Green Giant
Energizer Resources
(egz-v) continues to
get promising results
from its Green Giant
vanadium project in
Madagascar as market
curiosity about the
metal grows.
The Toronto-based
company released results from X-ray fluorescence (XRF) tests
done on the latest
round of drill holes and
says the results confirm continued vanadium mineralization in
and along the main
trend.
Highlights from five
separate holes include:
0.70% V2O5 over 63 meENERGIZER RESOURCES
tres, 0.55% V2O5 over Energizer Resources personnel logging vanadium
84 metres, 0.58% V2O5 samples during a trenching program at the
over 54 metres, 0.56% Green Giant vanadium project in Madagascar.
V2 O 5 over 69 metres
and 0.76% V2O5 over 9 metres.
tres at Green Giant.
So far this year, the company
Assays from the core are due in
drilled 6,779 metres and in total the coming months after which
has drilled more than 19,000 me- Energizer will look to beef up its
current indicated resource of
21.74 million tonnes V2O5 and inferred resource of 4.15 million
tonnes V2O5.
XRF readings are not certifiable
or recognized in any National Instrument 43-101 compliant resource calculation and, the company admits, results do vary from
assay results.
But Energizer says it has ample
experience with the technology
and expects a strong correlation
with assays.
The company also announced
that it has brought a vanadium industry expert, Terrance Perles, on
board to help it discover future
market opportunities.
Perles has been involved in the
vanadium industry for 22 years,
and has held senior management
positions with Stratcor and Evraz
Group’s vanadium business unit.
Evraz is one of the world’s largest
vertically-integrated steel, mining
and vanadium businesses.
Currently, more than 90% of
vanadium demand comes from the
steel industry, where some experts expect demand to grow at
7% a year over the next 15 years
thanks to the metal’s steelstrengthening properties. But
many investors are curious about
the metal because of its role in
some new battery technologies.
The most significant users of
vanadium in the battery industry
are vanadium redox batteries
(VRB), which require between one
and five tonnes of V2O5, depending
on the size of the VRB.
VRBs are large-scale energy
storage systems, which are beginning to be put into use in some parts
of the world.
“Now that the vanadium redox
flow battery technology seems to
be on the cusp of mass commercialization, it could lead to an explosive
new demand for vanadium,” Perles
said in a statement. “Significant
supply shortages of V2O5 are possible in the coming years unless
significant additional production,
meeting battery application quality requirements, is brought online
in the next few years.
Energizer was known as Uranium Star Corp. up until the end
of last year.
In Toronto, on June 23 — the day
the results were released — Energizer shares closed flat at 24¢ on
29,000 shares traded.