BAYSTREET RSS FEED http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2014 Baystreet.ca Inc. All rights reserved. 4/24/2014 6:08:08 AM <![CDATA[Africa Oil Corp. "OVERWEIGHT"]]>Wed, 23 Apr 2014 07:39:04 ESThttp://baystreet.ca/articles/analyst_ratings.aspx?17876<![CDATA[Crude supplies up, oil futures sink ]]>Wed, 23 Apr 2014 12:00:00 ESThttp://baystreet.ca/articles/commodities.aspx?id=485Wednesday, April 23, 2014


Crude supplies up, oil futures sink


Oil futures demurred on Wednesday following weekly data that showed a slightly bigger-than-expected climb in crude supplies.

The U.S. Energy Information Administration said crude stockpiles rose 3.5 million barrels for the week ended April 18. Analysts polled by Platts were looking for a climb of 3.1 million barrels.

Gasoline supplies fell by 300,000 barrels, while distillate stockpiles rose 600,000 barrels, according to the EIA. Gasoline stockpiles were expected to fall by 1.7 million barrels, while distillates, which include heating oil, were projected to retreat 900,000 barrels, according to the Platts poll.

June crude traded at $101.61 U.S. a barrel, down 14 cents, or 0.1%, on the New York Mercantile Exchange. Before the report, prices traded higher at $101.90 U.S.

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<![CDATA[Netflix subscriber list climbs, to raise rates ]]>Tue, 22 Apr 2014 12:00:00 ESThttp://baystreet.ca/articles/techinsider.aspx?id=442Tuesday, April 22, 2014

Netflix subscriber list climbs, to raise rates


Video streaming service Netflix Inc (NASDAQ: NFLX) said it intends to raise the monthly subscription price for new customers by $1 or $2 U.S. a month to help the company buy more movies and TV shows and improve service for its 48 million global subscribers.

Investors welcomed the announcement by Netflix, which had suffered from a consumer exodus and stock plunge after it announced an unpopular price increase in July 2011. The company's shares jumped $29.08, or 8.4% in early Tuesday trading to $377.57 U.S., after the company released plans for a price hike and posted a rise in first-quarter profit that beat Wall Street expectations.

Chief Executive Reed Hastings said Netflix had improved its selection of TV shows and movies and added original series like critically acclaimed Kevin Spacey thriller "House of Cards."

With added revenue from higher prices, "we will be able to license much more content and deliver it in very high quality video," Hastings said on a webcast.

The company, in a quarterly letter to shareholders, said it plans to impose "a one or two dollar increase, depending on the country, later this quarter for new members only." It did not name the countries. Existing customers would keep their current price "for a generous time period," it said.

Netflix has "room to raise prices," FBN Securities analyst Shebly Seyrafi said, because "they're still seeing a lot of demand" for the service.

The company said in its earnings report it added 2.25 million customers to its U.S. streaming business during the quarter that ended in March, in line with the company's earlier guidance, for a total of 35.7 million. In international markets, its customer base reached 12.7 million, a gain of 1.8 million during the quarter.

Net income for the quarter reached $53 million U.S., an increase from $3 million U.S. a year earlier. Earnings-per-share came in at 86 cents, topping the average forecast of 83 cents U.S., according to analysts surveyed by Thomson Reuters I/B/E/S.

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<![CDATA[Economic Calendar]]>Thu, 24 Apr 2014 06:08:07 ESThttp://baystreet.ca/articles/econ_calendar.aspx?id=94April 2014
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Thursday, April 03, 2014 Canadian international merchandise trade: 8:30am Feb Statistics Canada reported this morning that Canada's merchandise exports grew 3.6% and imports were up 2.1% in February. As a result, our trade balance with the world swung from a deficit of $337 million in January to a surplus of $290 million in February. Canada's merchandise imports declined 1.6% while exports edged up 0.2% in January. As a result, Canada's trade deficit with the world narrowed from $922 million in December to $177 million in January.
Friday, April 04, 2014 IVEY purchasing managers index: 10:00am Mar Western University’s Ivey School of Business reported that its Purchasing Managers’ Index stood at 55.2 for March, compared to 57.2 in February and 61.6 for March 2013. The index asks purchasing managers if their buying activity increased or slumped the month before. A figure above 50 shows an increase while below 50 shows a decrease. The Ivey Purchasing Managers Index (PMI) by the end of February 2014 stood at 57.2, ahead of the 56.8 figure for January, 51.1 for February 2013 and 66.5 for February 2012
Friday, April 04, 2014 Labour Force Survey: 7:00am Mar Employment increased by 43,000 in March, driven by gains among youths. The unemployment rate declined 0.1 percentage points to 6.9%. Employment was little changed in February, and the unemployment rate remained at 7.0%. There has been little overall employment growth in Canada since August 2013.
Tuesday, April 08, 2014 Housing Starts: 8:15am Mar Housing starts in Canada were trending at 184,476 units in March compared to 191,126 in February, according to Canada Mortgage and Housing Corporation (CMHC). Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts rose to 192,094 units last month from a upwardly revised 180,481 in January, topping economists' forecast for 189,500.
Tuesday, April 08, 2014 Building Permits: 8:30am Feb Municipalities issued building permits worth $6.1 billion in February, down 11.6% from January. This decrease followed an 8.1% gain the previous month and was mainly driven by lower construction intentions for multi-family dwellings in all provinces. The total value of building permits issued by Canadian municipalities rose 8.5% to $7.0 billion in January, following a 4.8% decrease in December.
Thursday, April 10, 2014 New Housing Price Index: 8:30am Feb The New Housing Price Index rose 0.2% in February, following a 0.3% increase in January. The New Housing Price Index rose 0.3% in January, following a 0.1% gain in December. The national increase was the largest since May 2012 and mainly the result of strong gains in the Prairie region.
Tuesday, April 15, 2014 CREAstats - MLS sales: 8:30am Mar According to figures released this morning by the Canadian Real Estate Association, national home sales rose 1% from February to March. Actual (not seasonally-adjusted) activity stood 4.9% above levels of March of last year. CREA also says the number of newly-listed homes edged up 0.5% between February and March. The Canadian Real Estate Association revealed that national home sales activity was little changed in February 2014 on a month-over-month basis. National home sales edged up 0.3% from January to February. Actual (not seasonally adjusted) activity stood 1.9% above February 2013 levels.
Tuesday, April 15, 2014 Monthly Survey of Manufacturing: 8:30am Feb Canadian manufacturing sales increased 1.4% to $51.2 billion in February. Manufacturing sales rose 1.5% to $50.4 billion in January, the largest gain since February 2013.
Wednesday, April 16, 2014 Canada's International Transactions in securities: 8:30am Feb Foreign investment in Canadian securities advanced $6.1 billion in February and was focused on corporate instruments. Canadian acquisitions of foreign securities came in at $6.0 billion. Canadian investors added $2.3 billion of foreign securities to their holdings in January, a fourth straight month of such investment. At the same time, foreign investors acquired $1.1 billion of Canadian securities, led by equities.
Wednesday, April 16, 2014 BoC rate announcement: 9:00am -- The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1%. The Bank Rate is correspondingly 1 1/4% and the deposit rate is 3/4 of 1% The Bank of Canada today announced that it is maintaining its target for the overnight rate at 1%. The Bank Rate is correspondingly 1 ¼% and the deposit rate is 3/4 of 1%.
Thursday, April 17, 2014 Consumer Price Index: 7:00am Mar The Consumer Price Index rose 1.5% in the 12 months to March, following a 1.1% increase in February. Consumer prices rose 1.1% in the 12 months to February, following a 1.5% increase in January. On a seasonally adjusted monthly basis, the Consumer Price Index rose 0.3% in February, following a 0.2% gain in January.
Thursday, April 17, 2014 Employment Insurance: 8:30am Feb Following a decline in January, the number of people receiving regular Employment Insurance benefits was little changed in February at 506,500. Compared with 12 months earlier, the number of beneficiaries was down 4.9%. In January, 502,500 people received regular Employment Insurance (EI) benefits, down 1.9% (-9,900) from the previous month.
Tuesday, April 22, 2014 Wholesale trade: 8:30am Feb Wholesale sales rose for a second consecutive month in February, up 1.1% to $50.7 billion. Sales in all subsectors increased, led by motor vehicle and parts. Excluding this subsector, wholesale sales rose 0.8%. Wholesale sales rose 0.8% to $50.0 billion in January, following a decline in December. Gains were recorded in all subsectors except motor vehicle and parts. Excluding this subsector, wholesale sales rose 1.4%.
Wednesday, April 23, 2014 Retail Trade: 8:30am Feb Retail sales rose 0.5% to $41.0 billion in February. Gains were reported in seven of 11 sub-sectors, representing 56% of total retail sales. Excluding sales at gasoline stations and motor vehicles and parts dealers, sales advanced 0.8%. Retail sales rose 1.3% to $40.7 billion in January, partially offsetting the decline in December. Gains were reported in seven of 11 subsectors, representing 83% of total retail sales.
Wednesday, April 30, 2014 Raw Materials Price Index: 8:30am Mar --- The Raw Materials Price Index (RMPI) increased 5.7%, led by crude energy products.
Wednesday, April 30, 2014 Industrial Product Price Index: 8:30am Mar --- The Industrial Product Price Index (IPPI) rose 1.0% in February, mainly because of higher prices for energy and petroleum products.
Wednesday, April 30, 2014 GDP: 8:30am Feb --- Real gross domestic product rose 0.5% in January. This follows a 0.5% decline in December after five consecutive monthly increases.
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<![CDATA[Retail sales spike, though below Nov. peak]]>Wed, 23 Apr 2014 12:00:00 ESThttp://baystreet.ca/articles/economiccommentary.aspx?id=1115Retail sales spike, though below Nov. peak


Canadian retail sales in February rose by 0.5% from January, but still have not fully regained December's weather-induced losses, according to Statistics Canada data on Wednesday.

The value of sales was $41.03 billion, still a shade lower than November's $41.05 billion. The volume of sales rose 0.1% in February from January but remained a full 0.8% below November's peak.

Gains were reported in February in seven of 11 sectors, representing 56% of retail trade, led by health and personal care stores and general merchandise stores.

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<![CDATA[Asia shares mixed]]>Wed, 23 Apr 2014 12:00:00 ESThttp://baystreet.ca/articles/foreignmarketwrap.aspx?id=1856Wednesday, April 23, 2014

Asia shares mixed



Stocks in Hong Kong fell on signs of further contraction in China’s manufacturing sector, while a rally on Wall Street bolstered Japan in a quiet, holiday-shortened week for regional markets.

Japan’s Nikkei 225 recovered 157.50 points, or 1.1%, to 14,546.27

Hong Kong’s Hang Seng Index stumbled 221.04 points, or 1%, to 22,509.64

Gains came as the U.S. dollar was little changed against the yen, trading at ¥102.53 versus ¥102.61 late Tuesday in New York. The beginning of U.S. President Barack Obama’s three-day state visit to Japan was on the radar in Tokyo as traders watched for any progress on trade talks.

Japanese railroad and hotel-chain operator Seibu Holdings Inc. traded higher in its return as a public company, gaining 10.6% over its initial public offering price. The company’s core entity, Seibu Railway Co., was de-listed from the Tokyo Stock Exchange in December 2004 for doctoring its financial statements.

Disappointing earnings from blue-chip Chinese companies also weighed on stocks in Hong Kong and Shanghai. Shares of China Mobile Ltd. , the world’s largest telecom carrier by subscribers, fell 2.6% in Hong Kong after the company said intensifying competition and handset subsidies for Apple Inc.’s iPhones hurt its first-quarter earnings.

CHINA
The Shanghai CSI 300 docked 2.13 points, or 0.1%, to 2,194.67.

Negative economic data from China weighed on markets, as manufacturing activity in the region’s largest economy showed another month of contraction. A preliminary report from HSBC on China’s manufacturing sector in April came out at 48.3 from a final reading of 48.0 in March, remaining below the 50 mark that distinguishes expansion from contraction.

In other markets;

Taiwan’s Taiex Index subtracted 17.79 points, or 0.2%, to 8.956.92

Singapore’s Straits Times Index eased 19.52 points, or 0.6%, to 3,258.01

Korea’s Kospi Index drifted lower 3.85 points, or 0.2%, to 2,000.37

New Zealand NZX 50 index strengthened 37.98 points, or 0.7%, to 5,142.92

Australia’s S&P/ASX 200 improved 38.46 points, or 0.7%, to 5,517.77



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<![CDATA[Obama, Abe pressured to forge Pacific pact ]]>Wed, 23 Apr 2014 12:00:00 ESThttp://baystreet.ca/articles/globalmarkets.aspx?id=1117A meeting between U.S. President Barack Obama and Japanese Prime Minister Shinzo Abe this week in Tokyo may not seal one of the world's biggest trade pacts, but it could give it a much-needed boost.

A central element of Obama's strategic shift towards Asia, the Trans-Pacific Partnership (TPP) would connect a dozen Asia-Pacific economies by eliminating trade barriers and harmonizing regulations in a pact covering two-fifths of the world economy and a third of all global trade.

After four years of talks and missed deadlines, negotiators from several TPP countries say they hope Thursday's summit will lay the groundwork for tough concessions, including a possible easing in Japan's protectionist stance on beef, sugar, dairy and wheat — a step that could breathe into the struggling TPP.

The White House had hoped to complete the deal last year but has faced disagreements over barriers such as Japanese import duties on agricultural products. Tokyo is fighting to maintain import tariffs in five agricultural categories: rice, wheat, dairy, sugar, and beef and pork products.

Washington, meanwhile, has sought ways to protect U.S. car makers from their Japanese rivals.

Experts are looking for signs of concessions, especially from Japan given its staunch protection of its beef, sugar, dairy and wheat industries. Under one optimistic scenario, the leaders could announce they expect concrete outcomes soon, perhaps next month, when TPP negotiators meet in Vietnam.

A senior U.S. official said the summit would likely produce a statement giving a nudge for the negotiations to move to the next stage, a view shared by some industry groups.

The stakes are high for both Obama and Abe.

Failure to unveil a significant advance could stall the ambitious pact, undermining the trade-policy arm of Obama's so-called "pivot" of U.S. military, diplomatic and trade resources to the Asia-Pacific region.

An agreement between the United States and Japan is crucial for setting the tone for other countries engaged in the TPP: Australia, Brunei, Chile, Canada, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

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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]]><![CDATA[TSX flat by close]]>Wed, 23 Apr 2014 12:00:00 ESThttp://baystreet.ca/articles/marketupdates.aspx?id=3191Wednesday, April 23, 2014

04:37 PM EST
TSX flat by close

Gold shines brightest




The Toronto stock market was slightly lower Wednesday amid positive earnings news and signs of weakening Chinese growth.

The S&P/TSX composite index docked 22.58 points to end Wednesday’s session at 14,533.39

The Canadian dollar dropped 0.05 cents at 90.64 cents U.S.

In Canada, Canadian National Railways increased its first-quarter profit 12.2% to $623 million despite severe winter weather, beating analyst expectations on both revenue and profit.

Excluding gains from asset sales, CN earned $551 million or 66 cents per share, three cents ahead of estimates. Revenue grew 9% to $2.69 billion, ahead of estimates of $2.64 billion and its shares faded 19 cents to $63.38.

Those results followed a well-received earnings report Tuesday from Canadian Pacific Railway that showed the company handily beat expectations. CP stock dipped $2.12 to $170.50.

Aslo on Wednesday, electronics manufacturer Celestica Inc. said it had $47.1 million U.S. of adjusted net earnings in the first quarter, or $37.3 million U.S. under standard accounting, both up substantially from the same time last year -- despite soft demand from customers in the communications equipment sector. Celestica's revenue of $1.312 billion U.S. missed expectations of $1.36 billion.

But adjusted earnings amounted to 26 cents per share against analyst expectations for 20 cents and its shares gained 19 cents to $12.25.

The TSX base metals sector drifted lower as data showed that factory activity in China shrank for the fourth consecutive month in April, though the decline was slightly slower. The preliminary version of HSBC's purchasing managers' index edged up 48.3 from March's 48.0.

May copper was up a cent at $3.06 U.S. a pound. Teck Resources hiked nine cents to $24.67.

The energy sector was ahead and Suncor Energy was up $1.05 to $41.37, while rival Imperial Oil was ahead 45 cents to $52.61.

The gold sector was up as Barrick Gold spiked 22 cents to $19.59.

In the economic docket, Statistics Canada reported that retail sales moved higher 0.5% to $41.0 billion in February. Gains were reported in seven of 11 sub-sectors, representing 56% of total retail sales.
ON BAYSTREET

The TSX Venture Exchange added 6.10 points to 1,010.98

Nine of the 14 Toronto subgroups were lower on the day, as health-care dove 1.4%, consumer discretionary stocks were off 0.9% and utilities were 0.8% to the bad.

The five gainers were led by gold, up 2.1%, consumer staples, up 1%, and information technology, up 0.8%.


ON WALLSTREET

Wall Street's six-day win streak came to an end on Wednesday as the bulls hit the pause button after disappointing housing data and mixed earnings reports.

The Dow Jones Industrial Average subtracted 12.72 points to 16,501.65

The S&P 500 slipped 4.16 points to 1,875.39, and the NASDAQ composite index fell 34.39 to 4,126.97.

SodaStream International popped 14% after an Israeli paper said Starbucks is in advanced talks about taking a 10% stake in the household soda-machine maker. Starbucks fell almost 1% on the report, while Keurig Green Mountain, a rival to SodaStream, shed more than 4%.

Investors are sifting through the latest quarterly results in an effort to send the S&P 500 to a seventh consecutive day of gains.

On the upside, Dow Chemical reported a double-digit increase in net earnings per share compared to this time last year. Aircraft maker Boeing flew higher after exceeding profit forecasts and announcing an 8% revenue increase. Both stocks are up over 1%.

Procter & Gamble, a producer of household consumer goods like Crest, Tide and Gillette, also had solid quarterly gains, although its stock fell Wednesday.

Despite bad weather that caused thousands of flight cancellations, Delta Air Lines beat expectations with soaring profits. Investors bid up the airline 5% to an all-time high on the upbeat results.

There was mixed news late Tuesday when a slew of earnings came in just after the closing bell.

Gilead Sciences shares rose 3% after it blew past earnings estimates.

On the other hand, Amgen failed to live up to analysts' expectations and is one of the biggest losers today.

The biotech sector has taken a beating in recent weeks and was leading the NASDAQ lower on Wednesday after Amgen's miss. The tech sector was also dragged lower by selloffs from EMC and Juniper Networks following their quarterly results.

Shares of Yum! Brands fell 2% even after the parent of KFC and Taco Bell beat earnings expectations with especially good growth in Asia. They have also announced the return of the infamous KFC "Double Down" sandwich.

Apple, Facebook and Zynga are reporting after the close, along with consumer-focused companies Crocs andCheesecake Factory

Apple is down today, while Facebook is up ahead of their highly anticipated results.

U.K.-based chip designer ARM Holdings reported record revenue and profit in the first quarter, but results were slightly weaker than analysts were expecting.

Wall Street lost more ground after the government said new home sales tumbled 14.5% in March to the slowest pace since July. However, median prices of new homes sold rose to a record high of $290,000 U.S.

The weaker-than-expected housing numbers led investors to sell shares of home builders such as Lennar and KB Home, which lost 2% and 4%, respectively.

Stocks related to home construction also took a hit, including Home Depot and Owens Corning, which makes insulation products and roofing shingles.

Also on the economic front, research firm Markit said the speed of U.S. manufacturing expansion slowed slightly in April. The data is preliminary until the end of the month.

Prices for 10-year U.S. Treasuries gained strength, sending yields lower to 2.69% from Tuesday’s 2.73%. Treasury prices and yields move in opposite directions.

Oil prices slid 26 cents to $101.49 U.S. a barrel.

Gold prices took on $3.60 at $1,284.70 U.S. an ounce.





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<![CDATA[Stocks in Play: Pilot Gold Inc.]]>Wed, 23 Apr 2014 09:56:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=15520Wednesday, April 23, 2014

09:56 AM EST - Pilot Gold Inc. : announced that infill and step-out drilling at Kinsley Mountain's Western Flank target continues to intersect high grade gold mineralization, including 21.3 grams per tonne gold over 29.0 metres in PK137C. The upper portion of this intercept, including an interval grading 46.4 g/t Au over 4.9 metres, is oxidized, similar to other nearby drill holes with high grade zones of oxidation. Pilot Gold Inc. (T.PLG) shares were up $0.12 at 1.47.

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<![CDATA[Stocks in Play: Klondex Mines Ltd.]]>Wed, 23 Apr 2014 09:56:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=15521Wednesday, April 23, 2014

09:57 AM EST - Klondex Mines Ltd. : announced that its subsidiary, Klondex Midas Operations, today entered into a toll milling agreement with French Gulch Nevada Mining Corp. to process gravity concentrates produced from the Washington Mine at Klondex's Midas mill. Klondex Mines Ltd. (T.KDX) shares were unchanged at 1.82.

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<![CDATA[Stocks in Play: The Mint Corporation]]>Wed, 23 Apr 2014 09:56:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=15522Wednesday, April 23, 2014

09:58 AM EST - The Mint Corporation : announced that Mint North America has taken significant steps to restructure the North American operations, starting with closing down the Pennsylvania office and negotiating with creditors in North America to come to settlements of the amounts owed to them. Operations have been consolidated to the Greater Toronto Area. The company continues to look for further cost saving opportunities. The Mint Corporation (V.MIT) shares were down $0.01 at 0.05.

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<![CDATA[Stocks in Play: Thermal Energy International Inc.]]>Wed, 23 Apr 2014 09:56:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=15523Wednesday, April 23, 2014

11:48 AM EST - Thermal Energy International Inc. : announced its financial results for the three months ended February 28, 2014. Revenue was $2.9 million for the quarter, and with net income of $57,000 for the quarter, year-to-date net loss narrowed to $63,000 compared to a net loss of $162,000 for the same period last year. Thermal Energy International Inc. (V.TMG) shares were down $0.015 at 0.08.

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<![CDATA[Stocks in Play: Celestica Inc.]]>Wed, 23 Apr 2014 09:56:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=15524Wednesday, April 23, 2014

11:49 AM EST - Celestica Inc. : announced financial results for the first quarter ended March 31, 2014. Revenue was $1.312 billion, which decreased 4% compared to the first quarter of 2013. IFRS net earnings came in at $37 million, compared to $10.5 million in the prior-year quarter. IFRS EPS: $0.20 per share, compared to $0.06 per share for the first quarter of 2013. All figures in U.S. dollars. Celestica Inc. (T.CLS) shares were up $0.10 at 12.16.

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<![CDATA[Stocks in Play: Norsat International Inc.]]>Wed, 23 Apr 2014 09:56:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=15525Wednesday, April 23, 2014

11:51 AM EST - Norsat International Inc. : has received a reduction in its previously announced order from Harris Corporation for its compact and efficient ATOM series Solid State Power Amplifiers from $6.3 million to $3.15 million. The reduction is due to the deferment of mission capabilities to a later date. Norsat International Inc. (T.NII) shares were unchanged at 0.5.

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<![CDATA[Stocks in Play: Jericho Oil Corporation]]>Wed, 23 Apr 2014 09:56:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=15526Wednesday, April 23, 2014

03:50 PM EST - Jericho Oil Corporation : announced it has contracted a 50% interest for 160 additional development Acres in Miami County, Kansas. This acquisition, named EKan-3, brings Jericho's total Kansas acreage position to over 2,800 acres. Jericho Oil Corporation (V.JCO) shares were down $0.01 at 0.44.

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<![CDATA[Stocks in Play: Duran Ventures Inc. ]]>Wed, 23 Apr 2014 09:56:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=15527Wednesday, April 23, 2014

03:50 PM EST - Duran Ventures Inc. : announced that its partner(“the optionee”) has advised the Company that drilling has commenced on the Don Pancho Polymetallic Silver-Lead-Zinc Project located in the Department of Lima, Perú. The optionee is a well-funded private Peruvian mining company and has the option to earn a 70% interest in the project for cash consideration of $2,030,000 U.S. ($280,000 U.S. paid to date) and incurring at least $3,500,000 U.S. of exploration costs within the first 36 months of the agreement. Duran Ventures Inc. (T.DRV) shares were up $0.005 at 0.02.

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<![CDATA[Stocks in Play: Scorpio Gold Corporation]]>Wed, 23 Apr 2014 09:56:43 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=15528Wednesday, April 23, 2014

03:51 PM EST - Scorpio Gold Corporation : announced its operating results for the first quarter of 2014 at its 70% owned Mineral Ridge project, located in Nevada. Production at Mineral Ridge in Q1 2014 totaled 10,294 ounces of gold and 5,113 ounces of silver. Scorpio Gold Corporation (V.SGN) shares were up $0.005 at 0.26.

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<![CDATA[Bralorne Gold Mines Production Surges in February as Gold Grade Rises]]>Wed, 23 Apr 2014 04:49:03 ESThttp://baystreet.ca/articles/stockstowatch.aspx?id=735Wednesday, April 23, 2014

Bralorne Gold Mines Production Surges in February as Gold Grade Rises




Plenty of junior miners are plunging holes in the ground looking for gold, but not many of them are generating revenue to help fund the exploration. After all, it’s no secret that exploration and drilling is expensive, no matter if the holes are cut with reverse circulation, diamond drilling or rotary air blast drilling. On that point, a company producing even limited amounts of gold as it explores helps mitigate investment risk some, but when production is increasing; it’s even better.

That’s what’s been going on with Vancouver-based Bralorne Gold Mines Ltd. (TSX-Venture:BPM) in 2014 anyway. The company’s eponymous flagship gold property is located in the historic mining camp at Gold Bridge, British Columbia, an area with a rich heritage of gold mining. With a population of around 40 (yes, forty), Gold Bridge isn’t exactly a thriving metropolis, but it is home to the richest gold mine in Canada’s history with one of the deepest shafts anywhere in the world.

Bralorne Gold Mines took control of the property 12 years ago and has focused its exploration efforts on the undeveloped areas between the three historic mines that were abandoned, called "mine gap areas." Exploration has intercepted high grade gold in the mine gap areas, including cuts of 0.34 metres of 402.58 g/t gold, 2.1 metres grading 409.5 g/t gold and 0.37 metres grading 246.99 g/t gold.

After more exploration work, Bralorne brought the property back into production in 2010 with stope mining as it prepared for and began developing new mining blocks. Stope mining is a process of extracting ore and leaving a hole (the stope) where the ground is strong not to cave in the stope, although supports are generally still added for safety.

2014 has started off well for Bralorne with gold production increasing in the first two months as compared to the year prior periods. In January, metric tonnes milled increased from 2,553 tonnes in January 2013 to 3,133 tonnes. Total ounces recovered improved 25 percent from 322 ounces to 403.7 ounces.

On Wednesday, the company said that February was an even better month. Even though metric tonnes milled only improved about 10 percent compared to February 2013 to 2,532 tonnes, recovered gold amounts jumped substantially. Production surged 192 percent from 280.6 ounces a year earlier to 539.2 ounces this past February. Feed grade rose from 4.6 g/t gold last February to 7.5 g/t gold. That’s also up from 4.5 g/t gold in January.

"Mine grades are now showing up in the mill, resulting in a substantial improvement in ounces recovered compared to the same period last year," said Dr. Mathew Ball, President and COO of Bralorne Gold Mines, in a prepared statement.

Development of new mining blocks has exposed a vein with an average gold grade of 18.5 g/t gold over 0.7 metres. Over a nominal mining width of 1.5 metres, the average grade is 8.9 g/t gold. Dr. Ball added that more exploration is needed to define the boundaries of the zone.

The markets are a little sketchy towards miners of all sizes at the moment, but shares of BPM have edged ahead by 8% to 27 cents on limited volume of 30,000 shares in Wednesday trading.

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<![CDATA[Retail sales hit targets]]>Wed, 23 Apr 2014 10:25:06 ESThttp://baystreet.ca/articles/forex_trader.aspx?id=17885
Experts expect a range today of 1.1010 to 1.1090 Canadian

The euro is trading higher today on better than expected European Flash Purchasing Managers Index. French PMI came in lower than expected but was offset by strong German PMI. The euro traded up to 1.5274 Canadian in the North American open.

Observers expect a range today of 1.5230 to 1.5300 Canadian

The Bank of England minutes proved a non-event with little surprises to get the pound moving. Investors did, however, push it lower on the back of some other weaker-than-expected data, including those from the Confederation of British Industries. We currently find the sterling trading close to yesterday’s levels after earlier dipping as low as 1.8510 Canadian as the loonie also lost ground this morning.

The Australian dollar is noticeably weaker this morning after Australian inflation data failed to live up to investor expectations, with the yearly figure remaining within the Reserve Bank of Australia target at 2.9%. The Aussie fell nearly 1% overnight and is currently trading at a two-week low at 1.0245 Canadian.

The New Zealand dollar has also drifted lower on general risk aversion after some slightly weaker Chinese data and a failed bond auction in Russia. Tonight features the Reserve Bank of New Zealand rate announcement with many expecting an increase, meanwhile the kiwi is at 0.8575 Canadian.

Data Releases

CAD: Core Retail Sales, Retail Sales

AUD: No data today

EUR: French Flash Manufacturing PMI, French Flash Service PMI, German Flash Manufacturing PMI, German Flash Services PMI, Flash Manufacturing PMI, Flash Service PMI

GBP: MPC Asset Purchase Facility Votes, MPC Official Bank Rate Votes, Public Sector Net Borrowing, CBI Industrial Order Expectations

JPY: CSPI

NZD: Official Cash Rate, RBNZ Rate Statement

USD: New Home Sales, Crude Oil Inventories]]>
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