On Wednesday, the top TSX mover was Kinross Gold Corp. (TSX: T.K, Stock Forum). It gained 5% and was trading at $5.54 on volume of 4.7 million shares.
After the bell on May 7, the gold mining company announced adjusted net earnings of $170.5 million, or $0.15 per share, compared with $196.1 million, or $0.17 per share, in the first quarter of 2012.
IAMGOLD Corp. (TSX: T.IMG, Stock Forum) was the second most active stock on the TSX. The stock was up 6% and trading at $5.72 on volume of 3.8 million.
After the bell on May 7, the mining and exploration company reported adjusted net earnings attributable to shareholders for the first quarter 2013 were $57.7 million, or $0.15 per share, down 37% from the same prior year period.
As part of a cost cutting program IAMGOLD also reported total cash costs of $787 an ounce, $63 below the bottom of guidance.
"With the initiation of our $100 million cost reduction program before the drop in gold prices and our history of disciplined capital allocation, IAMGOLD was well ahead of the curve in responding to the challenges in our industry," said Steve Letwin, President and CEO.
Ashburton Ventures Inc. (TSX: V.ABR, Stock Forum) was the volume leader on the TSX Venture Exchange. It soared 27.3% and was trading at $0.07 on volume of four million.
Today the junior exploration company said it has acquired the right to earn a 100% interest in additional mineral tenures adjacent to the Colorado Resources Ltd. (TSX: T.CXO, Stock Forum) North Rok property located near Iskut, B.C.
Colorado Resources recently announced a drill hole intercept over 333 meters averaging 0.5% copper and 0.67 grams per tonne gold, and the new tenure is positioned roughly six kilometers north-northwest along the highway from that discovery.
The second most active stock on the TSX Venture was Zodiac Exploration Inc. (TSX: V.ZEX, Stock Forum) It rose 12.5% and was trading at $0.045 after 2.9 million shares changed hands.
On May 1, the exploration and production company said it was advised by Aera Energy LLC, an oil and gas producer, that drilling of the Aera - Mortgage 881D-15 well successfully reached its final vertical depth of 15,362 feet on the company's Mortgage block in the San Joaquin basin, California, and electric evaluation logs have been run.
Subsequently, Aera has informed Zodiac that the well will be temporarily suspended and remain on a tight-hole status. Aera has further advised that it will make a decision in due course on drilling the horizontal well section, as required by the farm-out agreement between Zodiac and Aera dated October 2013.