BAYSTREET RSS FEED http://www.baystreet.ca/rss/MasterRSS.aspx en-us Copyright (c) 2014 Baystreet.ca Inc. All rights reserved. 10/22/2014 3:56:31 AM <![CDATA[Intertain Group "OUTPERFORM"]]>Tue, 21 Oct 2014 07:28:53 ESThttp://baystreet.ca/articles/analyst_ratings.aspx?19698<![CDATA[Oil rebounds out of gully ]]>Fri, 17 Oct 2014 12:00:00 ESThttp://baystreet.ca/articles/commodities.aspx?id=531Friday, October 17, 2014


Oil rebounds out of gully


Crude-oil futures on Thursday bounced from a two-year low and from a dip under $80 U.S. a barrel, scoring their highest one-day dollar gain in three weeks.

On the New York Mercantile Exchange, light, sweet crude futures for delivery in November rose 92 cents, or 1.1%, to settle at $82.70 U.S. a barrel. It earlier touched below $80 U.S. a barrel for the first time since late June 2012.

November Brent crude on London’s ICE Futures exchange rose 69 cents, or 0.8%, to end at $84.47 U.S. a barrel. That was Brent’s largest one-day percentage gain in a month.

Both benchmarks snapped a three-session losing streak that took them to multi-year lows for most of the week, on ongoing concerns about tepid demand amid rising output. Wednesday’s carnage: Oil ends at two-year low; earlier rebound short lived

Earlier Thursday, the Energy Information Administration said U.S. crude inventories rose 8.9 million barrels on the week ended Oct. 10.

Analysts polled by Platts had expected an increase of 2.5 million barrels. The bearish rise in crude inventories was due to reduced refinery demand, analysts at UBS said in a note Thursday.

The EIA added that gasoline inventories declined four million barrels on the week, and stockpiles of distillates, which include heating oil, decreased 1.5 million barrels. The report was out a day later than usual due to Monday’s Columbus Day holiday in the U.S.

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<![CDATA[Sony buys into Israeli channels ]]>Tue, 21 Oct 2014 12:00:00 ESThttp://baystreet.ca/articles/techinsider.aspx?id=496Tuesday, October 21, 2014

Sony buys into Israeli channels


Sony Pictures Television agreed to buy 50% stakes in two Israeli telenovela cable TV channels from Dori Media Group, the companies said on Tuesday.

Financial details were not disclosed.

In June, Sony acquired the U.K.'s CSC Media Group.

The two channels in Israel - VIVA and VIVA Plus - show telenovelas and are highly popular.

Sony Pictures Television, a unit of Sony Entertainment , also agreed to buy 50% of the VIVA Walla online free video on demand service in Israel as well as half of Dori Media's Baby TV operations in Indonesia.

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<![CDATA[Economic Calendar]]>Wed, 22 Oct 2014 03:56:31 ESThttp://baystreet.ca/articles/econ_calendar.aspx?id=18125October 2014
 

DATE

STATISTIC FOR CURRENT MONTH PREVIOUS MONTH
Friday, October 03, 2014 Canadian international merchandise trade: 8:30am Aug Canada's merchandise imports rose 3.9% in August, while exports decreased 2.5%. As a result, Canada's trade balance with the world went from a surplus of $2.2 billion in July to a deficit of $610 million in August. Canada's merchandise exports increased 1.4% in July, while imports edged down 0.3%. As a result, Canada's trade surplus with the world widened from $1.8 billion in June to $2.6 billion in July.
Monday, October 06, 2014 IVEY purchasing managers index: 10:00am Sept Western University’s Ivey PMI data for September came in at 58.6, compared to 50.9 in August, and 51.9 in September 2013. Western University’s IVEY Purchasing Managers’ Index stood at 50.9 by the end of August, down from July’s reading of 54.1, and the 51 reading in August of last year.
Tuesday, October 07, 2014 Building Permits: 8:30am Aug The total value of building permits issued by Canadian municipalities fell 27.3% to $6.7 billion in August, following three months of double-digit increases. Canadian municipalities issued building permits worth $9.2 billion dollars in July, up 11.8% from June and the fourth consecutive monthly advance.
Wednesday, October 08, 2014 Housing Starts: 8:15am Aug A report from the Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts climbed to 197,343 units last month from an upwardly revised 196,283 units in August. That topped analysts' forecasts for 196,100. August was originally reported as 192,368. Canada Mortgage and Housing Corp showed the seasonally adjusted annualized rate of housing starts slipped to 192,368 last month from a downwardly revised 199,813 units in July.
Thursday, October 09, 2014 New Housing Price Index: 8:30am Aug The New Housing Price Index rose 0.3% in August, following no change in July. The New Housing Price Index was unchanged in July, following a 0.2% increase in June.
Friday, October 10, 2014 Labour Force Survey: 7:00am Sept Employment increased by 74,000 in September, nearly all in full-time work. This pushed the unemployment rate down 0.2 percentage points to 6.8%, the lowest since December 2008. Employment was little changed in August and the unemployment rate remained at 7.0%. Compared with 12 months earlier, employment increased by 81,000 (+0.5%), mostly in part-time work. Over the same period, the total number of hours worked was virtually unchanged.
Wednesday, October 15, 2014 CREAstats - MLS sales: 8:30am Sept Figures released by the Canadian Real Estate Association showed that national home sales fell 1.4% from August to September. Actual (not seasonally adjusted) activity stood 10.6% above September 2013 levels. CREA also said the number of newly listed homes declined by 1.6% from August to September. The average price of a Canadian home increased by more than 5% in the past year, according to the Canadian Real Estate Association, which adds the average home sold went for $398,618 in August.
Thursday, October 16, 2014 Canada's International Transactions in securities: 8:30am Aug Foreign investment in Canadian securities totaled $10.3 billion in August and included both debt and equity instruments. Canadian investment in foreign securities decelerated from July Canadian investors added $9.7 billion of foreign securities to their portfolios in July, the largest such investment since April 2007. Meanwhile, foreign investors acquired $5.3 billion of Canadian securities, mainly instruments from the corporate sector.
Thursday, October 16, 2014 Monthly Survey of Manufacturing: 8:30am Aug Canadian manufacturing sales fell 3.3% in August to $52.1 billion, the first decline in 2014. Canadian manufacturing sales increased 2.5% to $53.7 billion in July, largely as a result of higher sales in the transportation equipment and primary metal industries.
Friday, October 17, 2014 Consumer Price Index: 7:00am Sept Consumer prices rose 2.0% in the 12 months to September, following a 2.1% increase in August. On a seasonally adjusted monthly basis, the Consumer Price Index increased 0.2% in September, after rising 0.1% in August. Consumer prices rose 2.1% in the 12 months to August, matching the increase in July. On a seasonally adjusted monthly basis, the Consumer Price Index increased 0.1% in August, after decreasing 0.1% in July.
Monday, October 20, 2014 Wholesale trade: 8:30am Aug Wholesale sales edged up 0.2% to $53.1 billion in August. Following three consecutive monthly gains, wholesale sales decreased 0.3% to $52.9 billion in July.
Wednesday, October 22, 2014 BoC Rate Announcement: 9:00am -- --- The Bank of Canada maintains its target for the overnight rate at 1%.
Wednesday, October 22, 2014 Retail Trade: 8:30am Aug --- Following six consecutive monthly gains, retail sales paused in July, edging down 0.1% to $42.5 billion.
Thursday, October 23, 2014 Employment Insurance: 8:30am Aug --- The number of people receiving regular Employment Insurance benefits in July totaled 499,300, little changed from the previous month. Compared with 12 months earlier, the number of beneficiaries decreased 2.9% or 14,900.
Wednesday, October 29, 2014 Industrial Product Price Index: 8:30am Sept --- The Industrial Product Price Index increased 0.2% in August, mainly because of higher prices for motorized and recreational vehicles.
Wednesday, October 29, 2014 Raw Materials Price Index: 8:30am Sept --- The Raw Materials Price Index declined 2.2%, largely as a result of lower prices for crude energy products.
Friday, October 31, 2014 GDP: 8:30am Aug --- Real gross domestic product was essentially unchanged in July, following six consecutive monthly gains.
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<![CDATA[Trudeau would reverse Harper income-splitting]]>Tue, 21 Oct 2014 12:00:00 ESThttp://baystreet.ca/articles/economiccommentary.aspx?id=1236Trudeau would reverse Harper income-splitting


Should the Conservatives make good on their promise to introduce income splitting for couples with children under 18 before the next federal election, Justin Trudeau says a Liberal government would move to reverse that decision.

Trudeau, who was in Toronto to promote his newly published memoir Common Ground, which he's released ahead of next year's federal election, spoke to the media Monday morning.

Asked what tax measures he would specifically look to reverse, Trudeau pointed to Stephen Harper's proposal to introduce income splitting once the deficit is eliminated.

"It doesn't help the people who need it most and it costs Canadians an awful lot to do. It doesn't make sense," Trudeau said.

Trudeau made it clear during an interview on Sunday he would not reverse pension splitting for seniors — a separate tax measure the Conservatives introduced in 2007.

Trudeau has already said a Liberal government would reverse the Harper government's decision to raise the age of eligibility for Old Age Security from 65 to 67.

On Monday, he also left the door open to reversing other tax relief measures.

The Conservatives first promised to bring in income splitting for couples with children under 18 during the 2011 federal election campaign, but have since seen their caucus divided on the issue.

The late finance minister Jim Flaherty backed away from the proposal in February when he said it would appear to only benefit a small number of Canadians.

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<![CDATA[Stocks fade as yen hikes]]>Tue, 21 Oct 2014 12:00:00 ESThttp://baystreet.ca/articles/foreignmarketwrap.aspx?id=1980Tuesday, October 21, 2014

Stocks fade as yen hikes



The yen strengthened against rival currencies in Asian trade Tuesday, with a setback in the stock market prompting investors to fly to the relative safety of the Japanese currency.

In Tokyo, the Nikkei 225 lost 306.95 points, or 2%, to 14,804.28, after yesterday’s climb of more than 570 points.

In Hong Kong, the Hang Seng index gained 18.32 points, or 0.1%, to 23,088.58,

The U.S. dollar-yen trading pair showed a muted reaction to better than expected third-quarter gross domestic product data from China in the mid morning.

Moreover, Japan downgraded its overall assessment of the economy in October for the second consecutive month, citing a slowdown in production, likely adding to concerns over whether the government will go ahead with a second sales tax increase next year.

The report is the latest acknowledgment that the economy is continuing to struggle after a higher sales tax rate introduced earlier this year weakened the momentum of a recovery jump-started by Prime Minister Shinzo Abe ’s pro-growth policies.

CHINA

Shanghai’s CSI 300 index faded 21.32 points, or 0.9%, to 2,433.39

China posted a 7.3% year-over-year quarterly growth rate, marking growth at its slowest pace in five years amid a slumping real-estate market and weak domestic demand and industrial production. But that was slightly faster than a median 7.2% gain forecast by 15 economists in a Wall Street Journal survey.

In other markets;

The Taiex index in Taiwan dipped 8.50 points, or 0.1%, to 8,654.64

Korea’s Kospi index moved down 14.78 points, or 0.8%, to 1,915.28

In Singapore, the Straits Times STI index gained 21.69 points, or 0.7%, to 3,202.74

In New Zealand, the NZX 50 picked up 35.24 points, or 0.7%, to 5,233.12

Australia’s S&P/ASX 200 added 5.59 points, or 0.1%, to 5,325.03


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<![CDATA[China growth hits 5-yr. low]]>Tue, 21 Oct 2014 12:00:00 ESThttp://baystreet.ca/articles/globalmarkets.aspx?id=1236China's economic growth waned to a five-year low of 7.3% last quarter, raising concerns of a spillover effect on the global economy but falling roughly in line with Chinese leaders' plans for a controlled slowdown.

The third quarter figures, released Tuesday, put China on course for annual growth somewhat lower than the 7.5% targeted by leaders, though they have indicated there is wiggle-room in their plan. The world's number-two economy grew 7.5% from a year earlier in the previous quarter and 7.4% in the first quarter.

Communist leaders are trying to steer China toward growth based on domestic consumption instead of over-reliance on trade and investment. But the slowdown comes with the risk of politically dangerous job losses and policymakers bolstered growth in the second quarter with mini-stimulus measures.

Employment, however, remained strong through the third quarter and the service industries such as retailing that leaders want to promote have done well this year despite the downturn, which has been focused largely in the property market, said one expert.

A further slowdown in China's economy would likely cause some damage to the U.S. economy, the world's largest, as well as commodity producers such as Australia, Indonesia and Brazil that have grown accustomed to strong Chinese demand.

Still, the third-quarter figure beat expectations by many economists of about 7.2%, or lower, which could have increased calls for a new round of major stimulus measures that the government can ill afford after a debt fueled investment binge in response to the 2009 global recession. Asian stock markets took the data largely in stride, ending the day with unspectacular gains or losses.

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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 Geovic Mining Corp. GMC 28-07-2014 01 Communique Laboratory Inc. ONE 31-07-2014 Leucrotta Exploration Inc. LXE 19-08-2014 Cluny Capital Corp CLN 20-08-2014 Maestro Capital Corporation MCP 21-08-2014 Manera Capital Corp. MEA 28-08-2014 Mediterranean Resources Ltd. MNR 02-09-2014 Eastwood Bio-Medical Canada Inc. EBM 05-09-2014 Orletto Capital Inc. OLE 09-09-2014 Rodeo Capital III Corp. ROP 17-09-2014 Mira IV Acquisition Corp. MRY 24-09-2014 Xander Resources Inc. XND 25-09-2014 Maple Peak Investments Inc. MAP.P 01-10-2014]]><![CDATA[Big jump for TSX]]>Tue, 21 Oct 2014 12:00:00 ESThttp://baystreet.ca/articles/marketupdates.aspx?id=3684Tuesday, October 21, 2014

04:23 PM EST
Big jump for TSX

Metals lead charge




Canada's main stock index climbed for a fourth straight session on Tuesday as natural resource shares rose on the back of higher commodity prices and investors digested data showing slower yet better-than-expected economic growth in China.

The S&P/TSX composite index exploded 209.94 points, or 1.5%, to finish out the day at 14,547.71

The Canadian dollar moved higher 0.46 cents at 89.07 cents U.S.

The benchmark TSX has rebounded nearly 6% since hitting an eight-month low last week, and hit a one-week high on Tuesday.

Shares of energy producers jumped as Canadian Natural Resources added 2.2% to $39.09, and Suncor Energy climbed 2% to $38.86.

The materials sector, which includes mining stocks, advanced as Teck Resources rose 3.1% to $18.07, and Potash Corporation was up 0.7% at $36.93.

Canadian Pacific Railway Ltd gained 1.3% to $224.58. The carrier reported higher third-quarter earnings and revenue but the results fell short of analysts' expectations.

ON BAYSTREET

The TSX Venture Exchange spiked 10.93 points to 822.28.

All but one of the 14 Toronto subgroups were higher on the day, with metals and mining sprinting 3.1%, health-care advancing 2.5%, and consumer discretionary stocks zooming 2.3%.

Only gold kept things from being unanimous, losing 0.9%.

ON WALLSTREET

U.S. stocks rallied on Tuesday, with the S&P 500 on track for a fourth straight session of gains boosted by strong corporate results, including Apple's.

The Dow Jones Industrials raced ahead 215.14 points, or 1.3%, to 16,614.81.

The S&P 500 gained 37.27 points, or nearly 2%, to 1,941.28. The NASDAQ index gained 103.41 points, or 2.4%, to 4,419.48.

Apple Inc rose 2.6% to $102.39 U.S. a day after revenue topped expectations, helped by strong iPhone sales. It also gave a strong outlook for the holiday quarter.

The largest percentage gainer and decliner on the S&P 500 were both related to earnings. The largest gainer on the S&P 500 was Waters Corp., which rose 8.7%, while the largest decliner was Chipotle, down 6.7%.

The largest percentage gainer on the NASDAQ 100 was Illumina Inc., which rose 9.3%, while the largest percentage decliner was Starbucks down 0.3%.

In the sole item of economic news, sales of existing homes rose in September, hitting the fastest pace in one year and rebounding from an unexpected drop in August, the National Association of Realtors reported Tuesday. The annual rate of 5.17 million was better than expected.

Prices for 10-year U.S. Treasuries slid, raising yields to 2.21% from Monday’s 2.17%. Treasury prices and yields move in opposite directions.

Oil prices regained 54 cents to $83.25 U.S. a barrel.

Gold prices gained $3.50 to $1,248.20 U.S. an ounce.




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<![CDATA[Stocks in Play: Exchange Income Corporation]]>Tue, 21 Oct 2014 09:59:09 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16679Tuesday, October 21, 2014

10:1 AM EST - Exchange Income Corporation : announced that its subsidiary, Regional One, Inc. has entered into an agreement to acquire, over a 12- to 15-month period, 12 Bombardier CRJ700 aircraft equipped with CF34-8C5B1 engines from Lufthansa CityLine. Exchange Income Corporation (T.EIF) shares were $2.55 at 20.

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<![CDATA[Stocks in Play: Nordex Explosive Ltd.]]>Tue, 21 Oct 2014 09:59:09 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16680Tuesday, October 21, 2014

10:3 AM EST - Nordex Explosive Ltd. : announced the implementation of a new initiative designed to assist existing and new clients identify potential cost savings through the use of Nordex products in blasting operations. All facilities, personnel and support mechanisms under this program are being finalized and will enable customers to have the ability to measure results through efficiency reports prepared under the Nordex brand. Nordex Explosive Ltd. (V.NXX) shares were unchanged at 0.41.

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<![CDATA[Stocks in Play: Spectra7 Microsystems Inc.]]>Tue, 21 Oct 2014 09:59:09 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16681Tuesday, October 21, 2014

10:4 AM EST - Spectra7 Microsystems Inc. : announced preliminary selected unaudited financial results for the three months ended September 30. Unaudited financial statements for the fiscal third quarter will be released in November 2014. All amounts in this release are expressed in U.S. dollars. The Company expects to report record quarterly revenue of approximately $1.7 million for the three months ended September 30. This represents an increase of 45% over the prior quarter and an increase of 170% compared to the same period last year. Gross margins for the three-month period ended September 30, will exceed 80%, up from 76% in the previous quarter and from 69% in the same period last year. Spectra7 Microsystems Inc. (V.SEV) shares were up $0.06 at 0.75.

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<![CDATA[Stocks in Play: Critical Outcome Technologies Inc.]]>Tue, 21 Oct 2014 09:59:09 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16682Tuesday, October 21, 2014

10:5 AM EST - Critical Outcome Technologies Inc. : announced today that it recently executed a material transfer agreement with Dr. Jeffery Myers, MD, PhD, FACS of The University of Texas MD Anderson Cancer Center for the continued evaluation of COTI-2 in the potential treatment of patients with head and neck squamous cell cancer. Critical Outcome Technologies Inc. (V.COT) shares were unchanged at 0.27.

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<![CDATA[Stocks in Play: Quattro Exploration and Production Ltd.]]>Tue, 21 Oct 2014 09:59:09 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16683Tuesday, October 21, 2014

11:47 AM EST - Quattro Exploration and Production Ltd. : announced the completion of its evaluation well at Wood Mountain, Saskatchewan. The well was drilled, cored, logged and cased to a total depth of 1,950 metres, successfully intersecting the Bakken, Torquay and Birdbear zones and terminating in the Duperow, at an aggregate cost of $1,200,000. Quattro Exploration and Production Ltd. (V.QXP) shares were up $0.01 at 0.46.

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<![CDATA[Stocks in Play: Cineplex Inc.]]>Tue, 21 Oct 2014 09:59:09 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16684Tuesday, October 21, 2014

11:48 AM EST - Cineplex Inc. : announced today its cash dividend of $0.125 per share for the month of October, payable on November 28, to shareholders of record on October 31. Cineplex Inc. (T.CGX) shares were up $0.57 at 41.59.

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<![CDATA[Stocks in Play: Amorfix Life Sciences Ltd.]]>Tue, 21 Oct 2014 09:59:09 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16685Tuesday, October 21, 2014

11:50 AM EST - Amorfix Life Sciences Ltd. : announced today that it has closed the first tranche of a non-brokered private placement pursuant to which 1,260,000 common shares of Amorfix and 1,260,000 Warrants were issued for gross proceeds of $352,800. The Company intends to use the net proceeds of the Offering to continue the development of its research programs including its cancer therapeutic program, ProMIS™ and its Alzheimer's disease and for general corporate purposes including the completion of ongoing discussions with multiple partners for a variety of business deals focused on the formation of strategic alliances and partnerships to advance the Company's therapeutic and diagnostic programs. Amorfix Life Sciences Ltd. (T.AMF) shares were unchanged at 0.2.

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<![CDATA[Stocks in Play: Canadian Pacific Railway Limited]]>Tue, 21 Oct 2014 09:59:09 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16686Tuesday, October 21, 2014

03:34 PM EST - Canadian Pacific Railway Limited : announced record Q3 2014 financial results. Net income in the third quarter rose to a record $400 million, or $2.31 per diluted share, from $324 million, or $1.84 per share, in the third quarter of 2013. This represents an increase of 26 percent in earnings per share year-over-year. Canadian Pacific Railway Limited (T.CP) shares were up $3.65 at 225.3.

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<![CDATA[Stocks in Play: Yorbeau Resources Inc.]]>Tue, 21 Oct 2014 09:59:09 ESThttp://baystreet.ca/articles/stocksinplay.aspx?id=16687Tuesday, October 21, 2014

03:35 PM EST - Yorbeau Resources Inc. : announced that it has signed a Letter of Intent to purchase from Cogitore Resources Inc. substantially all of Cogitore's exploration assets in the provinces of Quebec and Ontario. The transaction is expected to close on or about December 22, once a meeting of Cogitore shareholders has approved the transaction. The consideration to be paid by Yorbeau under the transaction will be 25 million shares which will be subject to the statutory hold period of four months. Yorbeau Resources Inc. (T.YRB.A) shares were unchanged at 0.095.

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<![CDATA[Highbank Resources Ready for First Aggregate Production at Swamp Point North]]>Tue, 21 Oct 2014 03:02:06 ESThttp://baystreet.ca/articles/stockstowatch.aspx?id=803Tuesday, October 21, 2014

Highbank Resources Ready for First Aggregate Production at Swamp Point North



The Toronto Venture Composite Index has bounced about 50 points in the past four days after dropping in 20 of 22 trading days to levels not seen since the market collapse in late 2008. Safe to say, junior resource plays, which dominate the exchange, have faced significant headwinds throughout 2014 as the Venture index is off by about 12% this year, even with the rebound the past few days.

There have still been some bright spots on Venture-listed companies, including Highbank Resources Ltd. (TSX-Venture:HBK), which came off a double bottom technical chart pattern to hold its 200-day moving average around eight cents in January to bust loose to as high as 38 cents in July. For those keeping score, that’s a move of 375% from bottom to top. The stock has continued to hold the vast majority of the gains, finding support around 25 cents and resistance at 31 cents as the stock has been trading sideways since August.

Highbank, a Vancouver-based aggregate exploration and development company, has earned a 100% interest in, and has obtained a NI 43-101 Resources evaluation of a 72 million tonne tidewater aggregate gravel tenure called the Swamp Point North deposit in northwestern British Columbia. Highbank also holds a net smelter return interest in two molybdenum/copper properties in Ireland. When most people think of mining, metals like gold, silver and copper spring to mind, not aggregate (a wide category of particulate including gravel, sand, etc.), but aggregate is one of the most mined materials in the world for its litany of high-volume uses.

The Swamp Point North deposit is about 80 miles from the Port of Prince Rupert in British Columbia that is undergoing a massive infrastructure project, with the Canadian government spending $1.2 billion to expand the port. In 2013 alone, the Port of Prince Rupert expansion used $90 million in aggregate, according to Highbank consultant Greg Shafransky. Additionally, Highbank notes that there are more than $30 billion in liquid natural gas (LNG)-related projects announced for northern British Columbia that will require millions and millions of tons of aggregate for construction.

Highbank feels it has an edge on competition to capitalize on the rapid growth in B.C. because of the location of its property on the Portland Canal fjord at tidewater and year-round access to deep water ports. This means that while many other companies are forced to truck their aggregate, Highbank can ship product via high capacity barge.

Development at the Swamp Point North operation is progressing on pace, including the completion of the load-out conveyor and mooring dolphins earlier this month as well as the conveyor sections and receiving hopper being set in place. On Tuesday, Highbank said stripping above the gravel deposit is continuing and crushing, washing and screening equipment is being prepared, aligning the company to hit a milestone for the first production at Swamp Point North. Loading of the first barge with aggregate is expected within two weeks, sending one-inch crush the 72 miles to Prince Rupert.

The company said it has submitted quotes for one million tons of material related to pipeline construction, 600,000 tons related to harbor expansion and 600,000 tons for the first phase of LNG infrastructure. Looking to the future, Highbank says it’s in talks to supply two million tons of aggregate for a pipeline project slated for late 2016/early 2017.

Given the pending orders and other quotes submitted, Highbank provided guidance on October 14 that it sees gross revenue of $27 million in fiscal 2015 from Swamp Point North. Pre-tax profit for the first year of production is estimated at $11 million. The guidance didn’t do much for the stock price, but the corporate developments certainly seem to have generated quite a bit of attention for HBK shares. Trading at 28 cents per share on Tuesday equates to a market cap of $24.4 million for Highbank.

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<![CDATA[U.S. existing home sales await]]>Tue, 21 Oct 2014 09:51:42 ESThttp://baystreet.ca/articles/forex_trader.aspx?id=19705
With limited data and no U.S. Federal Reserve speakers, the markets focus will be shifting towards U.S. Consumer Price Index (Wednesday) followed by Bank of Canada Monetary Policy Report (10:00 a.m. ET) and Governor Stephen Poloz press conference (11:15 a.m. ET). Headline CPI is expected to be flat as falling energy prices will keep it in check and the core should rise by 0.1% on the month. Experts anticipate there to be little change to the message for our central bank with inflation in control, employment difficult to read and other central banks showing signs of pushing expectations for rate hikes further out into 2015 they will remain neutral.

Experts expect a range today of 1.1190 to 1.1260 Canadian

The euro is trading lower today on a report that the European Central Bank was considering buying corporate bonds as early as December within its asset purchasing program. There are no major data release until Thursday where we will get the October Purchasing Managers Index figures. The euro opened down to 1.4345 Canadian this morning.

Observers expect a range today of 1.4300 to 1.4452 Canadian

The pound is weak, down 0.63%, from yesterday’s close. The sterling failed to hold onto its two-month high, even though September’s Public Sector Net Borrowing printed better than expected. The next highlight will come tomorrow when Bank of England Minutes will be released. The pound is currently trading at 1.8124 Canadian.

The Australian dollar is essentially unchanged from yesterday’s close. The Reserve Bank of Australia’s October minutes reiterated that the Aussie is still too strong to help re-balance the economy and that the "members considered that the most prudent course was likely to be a period of stability in interest rates." On the bright side, RBA did state that moderate growth overall had continued into the September quarter. Most of the overnight gain was due to strong Chinese data peaking at 0.9947 Canadian until settling now at 0.9904 Canadian.

The New Zealand dollar is opening flat from yesterday’s close. The Kiwi rose to a four-week high peaking at 0.9051 Canadian before retracing most of its gains on the back of positive Chinese data. The Kiwi is currently trading at 0.8987 Canadian.

Data Releases

CAD: No data

AUD: CPI

EUR: No data

GBP: Public Sector Net Borrowing

JPY: Merchandise Trade Balance

NZD: No data

USD: Existing Home Sales]]>
<![CDATA[Top Analysts Action: TLM, REXX, OXY, KOS, HES]]>Tue, 21 Oct 2014 12:53:40 ESThttp://www.baystreet.ca/articles.aspx?id=28135Capital Mkts raises price target to $115.00 from $114.00 with outperform rating
Rambus (NASDAQ: RMBS) Topeka Capital Markets lowers price target to $15.00 from $17.00 with buy rating ]]>
<![CDATA[Shire (SHPG) flat as AbbVie gives up bid]]>Tue, 21 Oct 2014 10:58:23 ESThttp://www.baystreet.ca/articles.aspx?id=28134<![CDATA[AbbVie (ABBV) gains after giving up buying Shire]]>Tue, 21 Oct 2014 10:56:43 ESThttp://www.baystreet.ca/articles.aspx?id=28133<![CDATA[Trinity Industries (TRN) gains on court case]]>Tue, 21 Oct 2014 10:55:17 ESThttp://www.baystreet.ca/articles.aspx?id=28132<![CDATA[Apple (AAPL) moves forward on Q4 numbers]]>Tue, 21 Oct 2014 10:46:03 ESThttp://www.baystreet.ca/articles.aspx?id=28131<![CDATA[Intuitive Surgical (ISRG) down ahead of earnings]]>Tue, 21 Oct 2014 10:44:32 ESThttp://www.baystreet.ca/articles.aspx?id=28130<![CDATA[VMware (VWM) picks up ahead of earnings]]>Tue, 21 Oct 2014 10:43:13 ESThttp://www.baystreet.ca/articles.aspx?id=28129<![CDATA[Broadcom (BRCM) gains as earnings foreseen]]>Tue, 21 Oct 2014 10:41:23 ESThttp://www.baystreet.ca/articles.aspx?id=28128<![CDATA[E-Trade Financial (ETFC) set to declare earnings, stocks gain]]>Tue, 21 Oct 2014 10:34:28 ESThttp://www.baystreet.ca/articles.aspx?id=28127<![CDATA[Yahoo (YHOO) gains with earnings down the 'pike]]>Tue, 21 Oct 2014 10:32:48 ESThttp://www.baystreet.ca/articles.aspx?id=28126