Today on Stockhouse
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Peter Kennedy reports from PDAC, where visitors are told to expect metal shortages.
Top Bullboards post: “1. TRR have identified the start of Cote Lake, it’s the SW edge, and mineralization moves NW from there…with the grade getting better…so as we move N/NW, TRR expects stronger grades.
2. Costs should be around $700/tonne.
3. It is profitable to mine the 0.3 g/t at current gold prices, so it should be included in resource calc'n as it will add to total profits in long run…i.e. better economics even if grade is diminished somewhat. This might not be the case at $800 gold.
4. TRR definitely believes has a mine.” From letsgetready on the Trelawney Mining and Exploration (TSX: V.TRR, Stock Forum) board.
Top Bullboard: Intertainment Media(TSX: V.INT, Stock Forum) received the most reads and posts.
Top blog:ghost11 suggests members buy this uranium junior on pullbacks in the GHOST TRADER2 blog.
For news about small stocks that made big moves Monday’s trading, please read the Stockhouse Canadian Small and Micro-cap Stock Report.
Word on Wall Street
"Even though China only lowered its target by half a percentage point, it's a telegraph to the rest of the world that the second largest economy is slowing," said Tom Schrader, managing director at Stifel Nicolaus, in an interview with CNNMoney.
| Selected expected U.S. earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| American Vanguard (NYSE: AVD) |
Q4 |
$0.17 vs. $0.06 |
|
| Blount International (NYSE: BLT) |
Q4 |
$0.33 vs. $0.25 |
|
| China New Borun (NASDAQ: BORN) |
Q4 |
$0.44 vs. $0.41 |
|
| Outdoor Channel Holdings (NASDAQ: OUTD) |
Q4 |
$0.11 vs. $0.06 |
|
| Standard Motor Products (NYSE: SMP) |
Q4 |
$0.14 vs. $0.12 |
|
| United Natural Foods (NASDAQ: UNFI) |
Q2 |
$0.44 vs. $0.39 |
|
| Selected expected Canadian earnings releases for Tuesday |
| (Consensus Estimates vs. Last Year) |
|
| Aecon Group (TSX: T.ARE) |
Q4 |
$0.39 vs. $0.16 |
|
| First Quantum Minerals (TSX: T.FM) |
Q4 |
$0.20 vs. $0.38 |
|
| Scotiabank ( TSX: T.BNS) |
Q4 |
$1.15 vs. $1.09 |
|
|
Today In The Markets
TSX closes lower, resource stocks back off on Chinese growth concerns
|
| DJIA |
12,962.81 |
-14.76 |
 |
|
| NASDAQ |
2,950.48 |
-25.71 |
|
|
| S&P500 |
1,364.33 |
-5.30 |
|
|
| S&P/TSX |
12,523.95 |
-119.87 |
|
|
| S&P/TSX Venture |
1,655.83 |
-23.07 |
|
|
TORONTO-NEW YORK (The Canadian Press) - Resource companies led the way to a negative session on the Toronto stock market Monday amid lower growth forecasts from China.
The S&P/TSX composite index lost 119.87 points to 12,523.95 while the TSX Venture Exchange slipped 23.07 points to 1,655.83.
The Dow Jones industrial average lost 14.76 points to 12,962.81, the Nasdaq composite index was down 25.71 points to 2,950.48 and the S&P 500 index dipped 5.3 points to 1,364.33.
Please click here for the complete U.S. and Canadian market summaries.
After-Hours News
Avion Gold (TSX: T.AVR, Stock Forum)
After Monday’s close, the junior miner released an updated mineral resource estimate at the Kofi Project in Mali. The current resource estimate represents a 71% increase in Open Pit Indicated Mineral Resources from 3.24 million Indicated Mineral Resource tonnes at 2.55 g/t gold, totaling 293,000 ounces gold, to 6.9 million tonnes grading 2.25 g/t gold totaling 500,000 ounces.
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