BAYSTREET RSS FEED http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2014 Baystreet.ca Inc. All rights reserved. 7/26/2014 1:04:32 AM <![CDATA[Torstar Corp. "HOLD"]]>Fri, 25 Jul 2014 07:28:19 ESThttp://baystreet.ca/articles/analyst_ratings.aspx?18830<![CDATA[Gold bounces off 5-wk. low]]>Fri, 25 Jul 2014 12:00:00 ESThttp://baystreet.ca/articles/commodities.aspx?id=511Friday, July 25, 2014


Gold bounces off 5-wk. low


Gold futures edged higher Friday, bouncing off a five-week low but remaining below $1,300 U.S. an ounce as a record run for U.S. equities continued to curb safe-haven demand for the yellow metal.

Gold for August delivery rose $4.40, or 0.3%, to $1,295.20 U.S. an ounce. September silver added seven cents, or 0.3%, to $20.485 U.S. an ounce.

Data on Chinese gold imports released by Hong Kong’s statistics department on Thursday showed only 40.5 tons of gold were imported on a net basis from Hong Kong to China in June, down 23% from May and 61% year-on-year, according to some media outlets. That’s the fourth straight month of declines and the lowest level in 17 months.

While some gold imports via a free-trade zone established in Shanghai might not be captured in the figures, it still appears that overall demand is much weaker than had been anticipated.

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<![CDATA[ECB website hacked]]>Thu, 24 Jul 2014 12:00:00 ESThttp://baystreet.ca/articles/techinsider.aspx?id=469Thursday, July 24, 2014

ECB website hacked


The European Central Bank said on Thursday its website had been hacked and some e-mail addresses and other contact information stolen but insisted no market-sensitive data were affected.

The theft came to light after the central bank received an anonymous email on Monday night demanding money in exchange for the stolen addresses.

The hackers broke into a database storing details of people who had registered for ECB conferences, visits and other events, the bank said.

That database, which held about 20,000 email addresses and a much smaller number postal addresses and phone numbers, was kept physically separate from internal systems, it added.

"No internal systems or market sensitive data were compromised," the ECB said in a statement.

The ECB is currently running a particularly sensitive review of the euro-zone's top lenders, collecting streams of data to gauge whether banks have valued loans and other assets correctly, before it starts supervising them.

German police were investigating the breach and all people who might have had their details stolen had been contacted, said the bank.

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<![CDATA[Economic Calendar]]>Sat, 26 Jul 2014 01:04:32 ESThttp://baystreet.ca/articles/econ_calendar.aspx?id=18125July 2014
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Thursday, July 03, 2014 Canadian international merchandise trade: 8:30am May Canada's merchandise exports advanced 3.5% and imports grew 1.6% in May. As a result, Canada's trade deficit with the world narrowed from $961 million in April to $152 million in May. Canada's merchandise exports declined 1.8% while imports increased 1.4% in April. As a result, Canada's trade balance with the world went from a surplus of $766 million in March to a deficit of $638 million in April.
Monday, July 07, 2014 IVEY purchasing managers index: 10:00am June Western University's Richard Ivey School of Business said its Purchasing Managers Index (PMI) by the end of June 2014 stood at 46.9. The corresponding Ivey PMI figure for May 2014 was 48.2, compared to 55.3 for June 2013, and 49.0 for June 2012 Western University's Richard Ivey School of Business said its purchasing managers’ index fell to 48.2 last month from a reading of 54.1 in April. Analysts had expected the index to increase to 56.0 in May. A figure above 50.0 indicates industry expansion, below indicates contraction.
Monday, July 07, 2014 Building Permits: 8:30am May Statistics Canada reported that municipalities issued building permits worth $6.9 billion in May, up 13.8% from April. This followed a 2.2% rise in the previous month. Following two consecutive monthly declines, the total value of building permits issued by Canadian municipalities rose 1.1% to $6.0 billion in April.
Wednesday, July 09, 2014 Housing Starts: 8:15am Jun Canada Mortgage and Housing Corporation said that the seasonally adjusted annual rate of housing starts rose to 198,200 units last month from May’s total of 197,000 units. A report from the Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts rose to 198,324 in May from an upwardly revised 196,687 units in April. That surpassed analysts’ expectations for a May reading of 185,000.
Thursday, July 10, 2014 New Housing Price Index: 8:30am May The New Housing Price Index rose 0.1% in May, following five months of gains ranging from 0.1% to 0.3%. The New Housing Price Index rose 0.2% in April, following identical increases in both February and March.
Friday, July 11, 2014 Labour Force Survey: 7:00am June Employment was little changed in June and the unemployment rate rose by 0.1 percentage points to 7.1% as more people were searching for work. Employment edged up by 26,000 in May, driven by gains in part-time work. The unemployment rate increased 0.1 percentage points to 7.0% as there were more people in the labour market.
Tuesday, July 15, 2014 CREAstats - MLS sales: 8:30am Jun The Canadian Real Estate Association reported this morning that national home sales activity edged up 0.8% on a month-over-month basis in June 2014. Actual (not seasonally adjusted) activity stood 11.2% above June 2013 levels. According to statistics released today by The Canadian Real Estate Association (CREA), national home sales activity posted a sizable month-over-month increase in May 2014. National home sales rose 5.9% from April to May. Actual (not seasonally adjusted) activity stood 4.8% above May 2013 levels.
Wednesday, July 16, 2014 BoC rate announcment: 10:00 a.m. --- The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1%. The Bank Rate is correspondingly 1.25% and the deposit rate is 0.75% The Bank of Canada is maintaining its target for the overnight rate at 1%. The Bank Rate is correspondingly 1.25% and the deposit rate is 0.75%
Wednesday, July 16, 2014 Monthly Survey of Manufacturing: 8:30am May Manufacturing sales rose 1.6% to $51.6 billion in May, the fourth increase in five months. Manufacturing sales edged down 0.1% in April to $50.9 billion, the first decrease in four months.
Thursday, July 17, 2014 Canada's International Transactions in securities: 8:30am May Foreign investors acquired $21.4 billion of Canadian securities in May, mainly government bonds. Canadian investors added $2.0 billion of foreign securities to their holdings in the month, largely non-U.S. instruments. Foreign investment in Canadian securities resumed in April as non-residents added $10.1 billion to their holdings, marking the highest such acquisition in a year. Meanwhile, Canadian investment in foreign securities slowed to $2.5 billion.
Friday, July 18, 2014 Wholesale trade: 8:30am May Wholesale sales rose 2.2% to $52.6 billion in May, a second consecutive increase. Wholesale sales rose 1.2% to $51.2 billion in April following a decline in March. Higher sales were recorded in all subsectors except for food, beverage and tobacco.
Friday, July 18, 2014 Consumer Price Index: 7:00am June Consumer prices rose 2.4% in the 12 months to June, following a 2.3% increase in May. On a seasonally adjusted monthly basis, the Consumer Price Index increased 0.3% in June, after rising 0.2% in May. Consumer prices rose 2.3% in the 12 months to May, following a 2.0% increase in April.
Wednesday, July 23, 2014 Retail Trade: 8:30am May Retail sales rose 0.7% to $42.0 billion in May. Retail sales increased for the fourth consecutive month in April, advancing 1.1% to $41.6 billion.
Thursday, July 24, 2014 Employment Insurance: 8:30am May In May, the number of people receiving regular Employment Insurance benefits fell by 12,100 or 2.3%, after a year of little change. The total number of beneficiaries for the month was 504,100. The number of people receiving regular Employment Insurance benefits totaled 517,100 in April, up slightly (+1.1% or +5,600) from March.
Wednesday, July 30, 2014 Industrial Product Price Index: 8:30am June --- The Industrial Product Price Index was down 0.5% in May, mainly because of lower prices for energy and petroleum products.
Wednesday, July 30, 2014 Raw Materials Price Index: 8:30am June --- The Raw Materials Price Index declined 0.4%, mostly as a result of lower prices for animals and animal products.
Thursday, July 31, 2014 GDP: 8:30am May --- Real gross domestic product grew 0.1% in April, the same pace as in March. The output of service industries increased 0.3%, while the output of goods-producing industries declined 0.3%.
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<![CDATA[IMF downgrades Canada's '14 economic growth]]>Fri, 25 Jul 2014 12:00:00 ESThttp://baystreet.ca/articles/economiccommentary.aspx?id=1177IMF downgrades Canada's '14 economic growth


The International Monetary Fund has downgraded its economic outlook for Canada, saying the economy will grow just 2.2% in 2014 and 2.4% in 2015.

It’s somewhat gloomier outlook puts it in line with the Bank of Canada, which has said the slow start to the year because of a bitter winter and weakness in China will mean less economic activity in Canada.

The Canadian dollar fell on the news, trading 0.19 of a cent lower at 93.02 cents U.S. on Thursday afternoon.

The IMF also forecasts slower growth in the rest of the world, saying the world economy will grow at 3.4% in 2014, picking up to 4% in 2015. That’s less than the 3.7% it had anticipated for this year.

The cold winter meant the U.S. economy slipped backwards, leading the IMF to downgrade its annual forecast for the U.S. to 1.7% in 2014.

The stall in the U.S. economy earlier this year, and reduced demand from China also are cutting into global growth, the IMF said.

Despite the downgrade, Canada is second among the G7 for the strength of its outlook.

The surprise leader is Britain, which has pulled ahead in both wage growth and employment in the last few months and seen an uptick in inflation. The IMF outlook for the U.K. was revised upwards to 3.2% from 2.8% growth.

The IMF underscored that although the global economy recovery is proceeding, trouble spots such as in the Ukraine and the Middle East are a downside risk, especially if tensions there affect oil and natural gas prices.

It downgraded its outlook for Russia, which is expected to grow just 0.2%.

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<![CDATA[Asia closes higher on earnings ]]>Fri, 25 Jul 2014 12:00:00 ESThttp://baystreet.ca/articles/foreignmarketwrap.aspx?id=1921Friday, July 25, 2014

Asia closes higher on earnings



Asian stocks rose, as earnings from companies including Fanuc Corp. boosted sentiment.

The Nikkei 225 in Tokyo hiked 173.45 points, or 1.1%, to 15,457.87.

The Hang Seng Index in Hong Kong kept its win streak alive, gaining 74.51 points, or 0.3%, to close out the week at 24,216.01

Fanuc jumped 5.3% after the Japanese maker of industrial robots reported quarterly profit that beat analyst estimates. Itochu Corp. rose 2.5% after Japan’s third-largest trading company announced a share buyback.

Treasury Wine Estates Ltd., owner of the Penfolds label, slipped 1.8% in Sydney after Credit Suisse Group AG said a proposed transaction with KKR & Co. is unlikely.

Kia Motors Corp. gained 1.6% in Seoul after South Korea’s second-largest carmaker reported second-quarter profit that beat analyst estimates.

Itochu added 2.5% after saying it will spend as much as 110 billion yen to buy back shares. Japan’s third-largest trading company also agreed a business tie-up with Thai agriculture group Charoen Pokphand to expand food supply in the world’s most populous region.

Among shares that fell, Adventest Corp., a maker of chip-testing equipment, plunged 6.7% after posting profit that missed estimates.

Economically speaking, Japan’s consumer prices excluding fresh food rose 3.3% from a year earlier after a 3.4% gain in May, the statistics bureau said today in Tokyo. The increase matched the projection in a survey of 32 economists.

The International Monetary Fund lowered its outlook for global growth this year as expansions weaken from China to the U.S. and military conflicts raise the risk of a surge in oil prices. The world economy will advance 3.4% in 2014, the IMF said, less than its 3.6% prediction in April and stronger than last year’s 3.2%. Growth next year will be 4%, compared with an April forecast for 3.9%, the fund said.

CHINA

The Shanghai CSI 300 index added 23.44 points, or 1.1%, to 2,260.45

China’s economy is seen expanding 7.4% this year, less than the 7.5% forecast in April, the IMF said. Next year, growth in the world’s second-largest economy with slow to 7.1%, the Washington-based fund said, less than its forecast in April for 7.3%

In other markets;

In Korea, the Kospi index picked up 7.23 points, or 0.4%, to 2,033.85

Singapore’s Straits Times Index deducted 3.72 points, or 0.1%, to 3,350.17

The Taiex Index in Taiwan slumped 88.25 points, or 0.9%, to 9,439.29

In New Zealand, the NZX 50 gained 19.56 points, or 0.4%, to 5,194.27

Australia’s S&P/ASX 200 slid 4.30 points, or 0.1%, to 5,583.50


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<![CDATA[Argentina near default]]>Fri, 25 Jul 2014 12:00:00 ESThttp://baystreet.ca/articles/globalmarkets.aspx?id=1179Argentina will default in just a few days unless the country can find a way to satisfy creditors that are owed roughly $1.5 billion U.S.

The country's only remaining option appears to be negotiations -- and a compromise. If a deal is not reached, the country could miss its next bond payment on July 30.

Argentina's problem is the result of a marathon legal battle with a small group of "holdout" creditors that have demanded full payment on bonds they picked up after the country's last default in 2001.

Most of the country's other bondholders agreed to debt restructurings, but the holdouts have waged a battle in court for full principal -- plus interest.

The countdown to default started in earnest last month when a U.S. judge ruled that if Argentina doesn't pay the holdouts, it can't make any more payments to its restructured bondholders.

The government of President Cristina Fernández de Kirchner is now playing a high-stakes game of chicken with the holdouts. The group says they're open to a compromise that would allow Argentina to avoid yet another default.

Argentina is worried that a deal with the holdouts could trigger billions of dollars in additional claims. The country's government also insists it doesn't have enough time to reach a fair resolution.

So far, the two groups appear to be making very little progress in the court-mandated negotiations. A court mediator said Thursday that Argentina had declined to enter direct talks with the holdouts, which include several American hedge funds.

Fernández, who has long opposed paying the holdouts, has said she won't accept any deal that threatens the country's future.

Still, there are powerful incentives pushing both sides toward a compromise.

Argentina is struggling through a recession that would almost certainly be made worse by a default. Foreign investment could dry up, and the government might be forced to devalue its currency further.

For the holdouts, a default would remove any leverage they have over Argentina to secure full payment.

If a deal does materialize, it's likely to happen at the last minute. The mediator said that he will be meeting with both parties in the coming days.

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<![CDATA[IPO Center - TSX-V]]>Mon, 13 Jan 2014 12:00:00 ESThttp://baystreet.ca/articles/ipo_tsx.aspx?id=10023 Company Name Ticker Date RepliCel Life Sciences Inc. RP 13-01-2014 Cleantech Capital Inc. YES.P 14-01-2014 Jet Metal Corp. JET 20-01-2014 Reliance Resources Limited RI 22-01-2014 West African Resources Limited WAF 24-01-2014 Westcap Investments Corp. WI 12-02-2014 Sonde Resources Corp. SOQ 19-02-2014 QMX Gold Corporation QMX 20-02-2014 Knight Therapeutics Inc. GUD 28-02-2014 PC Gold Inc. PKL 11-03-2014 Silver Predator Corp. SPD 13-03-2014 Baja Mining Corp. BAJ 17-03-2014 IOU Financial Inc. IOU 17-03-2014 Rockefeller Hughes Corporation RHC 20-03-2014 Chrysalis Capital IX Corporation NYN 28-03-2014 Northern Sun Mining Corp. NSC 16-04-2014 Cliffside Capital Ltd. CEP 17-04-2014 Till Capital Ltd. TIL 24-04-2014 Redzone Resources Ltd. REZ 28-04-2014 Alabama Graphite Corp. ALP 05-05-2014 Jaguar Financial Corporation JFC 21-05-2014 Lingxian Capital Inc. LXC.P 23-05-2014 Tribute Pharmaceuticals Canada Inc. TRX 27-05-2014 Dataminers Capital Corp. DMC.P 29-05-2014 Transeastern Power Trust TEP.DB 02-06-2014 X-Terra Resources Inc. XTT 03-07-2014 Starlight U.S. Multi-Family (No.3) Core Fund SUS.UN 09-07-2014 Searchtech Ventures Inc. MJN.P 16-07-2014 Whiteknight Acquisitions III Inc. WKA 21-07-2014 Petro-Victory Energy Corp. VRY 24-07-2014]]><![CDATA[ Toronto gains as golds lead ]]>Fri, 25 Jul 2014 12:00:00 ESThttp://baystreet.ca/articles/marketupdates.aspx?id=3451Friday, July 25, 2014

04:33 PM EST
Toronto gains as golds lead

Visa takes thumping


WEEKLY MARKET WRAP UP



Canada's main stock index rose on Friday and was still on track for an 0.8% gain in a week of all-time highs, as financial stocks and some resource firms gained.

The S&P/TSX composite index grew 60.59 points, to close out Friday and the week at 15,455.04

The Canadian dollar faded 0.62 cents at 92.45 cents U.S.

Some of Canada's biggest banks led the way on Friday, with Toronto-Dominion Bank up 1% to $56.52, Royal Bank of Canada gaining 0.7% to $79.89, and Bank of Nova Scotia adding 0.3%, to $73.53.

Shares in TransForce jumped 10.5% to $27.82 after the transportation and logistics company said late on Thursday it planned to buy freight transport company Contrans Group for $495 million. Contrans stock gained 3.5% to $15.25.

Among resource stocks, Potash Corp gained 1.3% to $39.42 on evidence that fertilizer demand was improving.

Gold stocks shone brightly, as Argonaut Gold jumped 5.1% to $4.09, and B2Gold hiked 5.5% to $3.00.

ON BAYSTREET

The TSX Venture Exchange gained 5.79 points to 1,017.44.

All but four of the 14 Toronto subgroups were stronger on the day, most notably gold, up 3.3%, materials, surging 2.1%, and consumer staples, ahead 1%.

The four laggards were weighed most by telecoms, off 0.9%, energy, down 0.4%, and metals and mining, off 0.2%.

ON WALLSTREET

Stocks fell broadly on Friday, bringing the S&P 500 back from the threshold of 2,000.

The Dow Jones Industrials plummeted 123.23 points to close Friday at 16,960.57. Visa, which has the biggest weighting in the Dow, dragged down the blue chips with its 4% drop.

The S&P 500 dropped 9.64 points to 1,978.34. The NASDAQ composite slipped 22.55 points to 4,449.56, largely due to a more than 10% drop in Amazon following its latest earnings.

Despite Friday's drop, it wasn't that bad of a week. The NASDAQ is up about 0.4% this week and the S&P 500 is up slightly. The Dow is lower, though.

Amazon's sales jumped more than 20% but it also reported a $123-million U.S. loss. Some investors may be growing tired of Amazon's long history of quarters where it loses more than expected due to big investments.

The company has been spending a lot this quarter, unveiling products and services like the Fire TV, Fire Phone and Sunday delivery, but it seems that's not enough to keep some investors around until next quarter.

Today's the first day of trading for El Pollo Loco, whose shares priced at $15 U.S. per share, the higher end of its IPO range. The stock is up around 52% heading into the close.

The company has a lot of debt and isn't exactly Chipotle, but it has ambitious expansion plans and healthy IPO market behind it.

A few other companies debuted today, but none had El Pollo Loco's spark: Orion Engineered Carbons and Ocular Therapeutix shares were down slightly.Innocoll and Advanced Drainage Systems rose modestly.

Cynk Technology, the mysterious social network with no earnings, revenue or even assets, is once again trading after the SEC suspended trading two weeks ago following a from-nowhere 25,000% price increase. The stock was down more than 85%.

21st Century Fox merged its BSkyB cable assets in Germany and Italy with BSkyB in England, freeing up $8.3-billion U.S. in cash.

The market thinks that the money might be put to use to help Rupert Murdoch's Fox make a higher bid for Time Warner, which Fox has sought to buy for $80 billion U.S. Time Warner turned down the offer. Fox shares were flat and Time Warner shares were up 1.4%.

Several other stocks caught up in merger speculation were on the move as well. After rumours of a potential tie-up between Zillow and Trulia began swirling yesterday, both stocks surged. The rally continued Friday with Zillow up 7% and Trulia 2% higher.

SodaStream, which soared Thursday on reports it may look to go private, wasn't so lucky. The stock fell more than 1%.

Visa had one of the worst days in the S&P 500 behind Amazon. It had a great quarter that exceeded expectations and even spurred a number of price target upgrades from analysts. But it lowered its revenue growth forecast, and it's getting punished.

Rival MasterCard, whose earnings come out in a week, was down 2.1%.

Starbucks also reported a good quarter. But its shares were down 2%.

Prices for 10-year U.S. Treasuries gained ground, lowering yields to 2.47% from Thursday’s 2.51%. Treasury prices and yields move in opposite directions.

Oil prices fell 11 cents to $101.96 U.S. a barrel.

Gold prices jumped $17.20 to $1,290.80 U.S. an ounce.





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<![CDATA[Stocks in Play: PetroNova Inc.]]>Fri, 25 Jul 2014 09:44:14 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16127Friday, July 25, 2014

09:44 AM EST - PetroNova Inc. : announced that it has closed its previously announced non-brokered private placement of 28,571,428 million common shares of the Company at a purchase price of $0.28 per Common Share for total gross proceeds of $8 million. PetroNova Inc. (V.PNA) shares were unchanged at 0.33.

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<![CDATA[Stocks in Play: Shoreline Energy Corp.]]>Fri, 25 Jul 2014 09:44:14 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16128Friday, July 25, 2014

09:46 AM EST - Shoreline Energy Corp. : announced that it has entered into a purchase and sale agreement to sell its royalty interests in its Canadian land base to PrairieSky Royalty for total gross proceeds of $9 million. The Agreement contains customary closing conditions and the Transaction is expected to close in early August. Shoreline Energy Corp. (T.SEQ) shares were up $0.03 at 0.89.

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<![CDATA[Stocks in Play: PrairieSky Royalty Ltd]]>Fri, 25 Jul 2014 09:44:14 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16129Friday, July 25, 2014

09:47 AM EST - PrairieSky Royalty Ltd : announced that it has entered into a purchase and sale agreement with Shoreline Energy Corp. to sell its royalty interests in its Canadian land base to PrairieSky for total gross proceeds of $9 million. The Agreement contains customary closing conditions and the Transaction is expected to close in early August. PrairieSky Royalty Ltd (T.PSK) shares were down $0.12 at 41.3.

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<![CDATA[Stocks in Play: Vanoil Energy Ltd.]]>Fri, 25 Jul 2014 09:44:14 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16130Friday, July 25, 2014

09:48 AM EST - Vanoil Energy Ltd. : announced that the TSX Venture Exchange has consented today to the extension in the expiry date of the following share purchase warrants: (i) 4,025,818 Warrants expiring August 2, 2014; (ii) 4,291,666 Warrants expiring August 10, 2014; and (iii) 56,423 Warrants expiring August 21, 2014. The 8,373,937 Warrants exercisable at a price of $1.00 have all been extended to August 2, 2017. Vanoil Energy Ltd. (V.VEL) shares were unchanged at 0.04.

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<![CDATA[Stocks in Play: TransForce Inc.]]>Fri, 25 Jul 2014 09:44:14 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16131Friday, July 25, 2014

11:48 AM EST - TransForce Inc. : and Contrans Group Inc. ,a diverse provider of specialized transportation services, today announced that they have entered into a Support Agreement for the acquisition by TransForce, for $14.60 in cash per share, of all of the issued and outstanding Class A subordinate voting shares and Class B multiple voting shares of Contrans by way of a friendly, Board-approved takeover bid. The total equity purchase price is approximately $495 million. TransForce Inc. (T.TFI) shares were up $2.12 at 27.3.

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<![CDATA[Stocks in Play: Contrans Group Inc.]]>Fri, 25 Jul 2014 09:44:14 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16132Friday, July 25, 2014

11:49 AM EST - Contrans Group Inc. : and TransForce Inc. announced that they have entered into a Support Agreement for the acquisition by TransForce, for $14.60 in cash per share, of all of the issued and outstanding Class A subordinate voting shares and Class B multiple voting shares of Contrans by way of a friendly, Board-approved takeover bid The total equity purchase price is approximately $495 million. Contrans Group Inc. (T.CSS) shares were up $0.56 at 15.3.

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<![CDATA[Stocks in Play: SNC-Lavalin]]>Fri, 25 Jul 2014 09:44:14 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16133Friday, July 25, 2014

11:51 AM EST - SNC-Lavalin : announced that it has signed a formal memorandum of understanding with the China National Nuclear Corporation to jointly develop and pursue power generation, mining and metallurgy and nuclear-related environmental protection projects. SNC-Lavalin (T.SNC) shares were up $1.10 at 57.61.

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<![CDATA[Stocks in Play: Macarthur Minerals Limited ]]>Fri, 25 Jul 2014 09:44:14 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16134Friday, July 25, 2014

03:36 PM EST - Macarthur Minerals Limited : announced that the Company has closed its previously announced private placement of 11,200,000 shares of the Company at a price of $0.20 Australian per share to a private investor. The price per share is equal to approximately $0.204 Canadian per share, based on the Reserve Bank of Australia exchange rate on June 6, and represents approximately a 46% premium to the closing price of the Company's TSX-listed shares on June 6. Macarthur Minerals Limited (T.MMS) shares were up $0.01 at 0.18.

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<![CDATA[Stocks in Play: Ritchie Bros. Auctioneers]]>Fri, 25 Jul 2014 09:44:14 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16135Friday, July 25, 2014

03:37 PM EST - Ritchie Bros. Auctioneers : sold more than $49 million U.S. of equipment items and trucks at its unreserved public auction in Fort Worth, Texas on July 23 - 24, 2014. Equipment sale highlights included a 2012 Caterpillar D6T XW crawler tractor, which sold for $295,000 U.S.; three 2012 Kenworth T800 sleeper truck tractors that sold for $102,000 U.S. each; and three 2012 Kenworth T800 sleeper truck tractors that sold for $100,000 U.S. each. Ritchie Bros. Auctioneers (T.RBA) shares were up $0.06 at 26.97.

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<![CDATA[Barkerville Pours First Gold Dore Bar from Bonanza Ledge Mine]]>Fri, 25 Jul 2014 04:41:16 ESThttp://baystreet.ca/articles/stockstowatch.aspx?id=771Friday, July 25, 2014

Barkerville Pours First Gold Dore Bar from Bonanza Ledge Mine



Small-cap stock investors always have to be patient to see a company develop, but maybe none so much as those investing in the mining sector. Biotechs may be the only that rival miners, with both consuming millions of dollars and often taking more than a decade to bring their product, albeit a new drug candidate or a mine, to commercialization. However, the rewards can certainly be worth the wait.

Those that have put their time into Vancouver-based Barkerville Gold Mines Ltd. (TSX-Venture:BGM) got their patience rewarded a bit on Friday, not by a spike in share price, but by hearing that the first gold dore bar has been poured at the Bonanza Ledge Mine. The mine, which was dubbed a new discovery nearly a decade and a half ago when Barkerville was exploring a different target, is situated on the company’s Cariboo Gold Project near Wells, British Columbia.

Barkerville’s portfolio contains more than 1,100 square kilometres of land along a strike length of 60 kilometres that’s approximately 20 kilometres wide in central B.C. In addition to the Bonanza Ledge Mine, the Cariboo project includes seven former producing mines as well as the Cow Mountain, Barkerville Mountain and Island Mountain exploration targets. The company also owns an operating milling facility, called "QR," near Quesnel, British Columbia that it acquired early in 2010 as part of a package deal that included a permitted gold mine and another milling facility in Revelstoke, B.C. that is currently on care and maintenance. The QR mill has been processing ore from mining at the QR project as production from the Bonanza Ledge Mine neared.

As mentioned, it’s a slow grind to production. From discovery in March 2000, Barkerville brought the Bonanza Ledge Mine every step of the way, including resource estimates, pre-feasibility study, a 13,000-wet-tonne bulk sample (in 2005), permits and mine development to initiating production in March. A technical report from 2012 shows that the mine can produce about 73,500 tonnes at an average grade of 9 grams per metric tonne, equating to a mine life of four years and 661,500 grams of gold (23,334 ounces). At $1,300 per ounce, that’s roughly $30.3 million.

Barkerville hauls the ore and gold from the mine 110 miles up the road to its QR mill facility. The company began trucking ore from the mine for milling early this month. Barkerville chief executive Frank Callaghan said, "It’s a proud moment" for the company on July 7, when the shipment news was disclosed. He may be even happier today as the first gold dore bar poured from the Bonanza Ledge Mine had a total weight of 11,528 grams, or about 406 ounces. At $1,300 per ounce, that’s a $528,000 block of gold.

Shares of BGM started 2014 strong, rising to hit 74 cents in January after capping 2013 at 42 cents, but fell to a low of 30 cents each at the start of June. A slow and steady rise from the bottom, including a jump from 40 cents to touch 50 cents on Monday, has the stock back in positive territory by about 15 percent for the year. Shares are trading flat in Friday action at 47 cents.

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<![CDATA[Positive U.S. durable goods strengthens greenback]]>Fri, 25 Jul 2014 09:42:36 ESThttp://baystreet.ca/articles/forex_trader.aspx?id=18837
Experts have observed global momentum favouring the U.S. dollar gradually picking up through the month of July and positive Canadian domestic data will not be enough to keep the Canadian dollar supported at current levels.

Traders expect a range today of 1.0720 to 1.0760 Canadian

The euro is soft after German IFO came in below expectation. Next week’s flash Consumer Price Index will be critical to evaluating the path of European Central Bank policy. The market is looking for CPI to stay stable at 0.5% on headline and 0.8% on core. Bias continues to be on the downside for the euro, which opened at 1.4454 Canadian this morning.

Experts expect a range today of 1.4421 to 1.4525 Canadian

The British pound is strong this morning after Q2 Gross Domestic Product printed as expected. This is another development that supports an interest rate hike. The GBP is up 20 basis points and has rebounded from its monthly low after losing 225 bps since last Wednesday. The sterling is trading at 1.8271 Canadian this morning.

The Australian Dollar is strong and is still keeping its general uptrend, currently trading at 1.0133 Canadian. The New Zealand dollar is weak approaching its support levels and its two-month low, currently trading at 0.9205 Canadian heading into the last trading session of the week.

Data Releases

CAD: No data

AUD: No data

EUR: German IFO Business Climate

GBP: GDP

JPY: No data

NZD: No data

USD: Core Durable Goods Orders]]>
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