Market wrap: Winners and losers
Aug 23, 2012 / 4:00 pm
Some of the most active companies traded Thursday on the Toronto Stock Exchange and the TSX Venture Exchange:
Toronto Stock Exchange (12,062.51 down 56.48points):
Talison Lithium Ltd. (TSX:TLH). Miner. Up $2.26, or 53.30 per cent, at $6.50 on 23,489,397 shares. The stock rose at its highest level since February 2011 on news Rockwood Holdings Inc. will acquire the Australia-based company for $724 million, a 53 per cent premium to the stock's Wednesday close.
Eastern Platinum Ltd. (TSX:ELR). Miner. Up 2.5 cents, or 13.16 per cent, at 21.5 cents on 12,773,202 shares.
Kinross Gold Corp. (TSX:K). Miner. Up six cents, or 0.69 per cent, at $8.78 on 6,148,131 shares. The gold sector led the advancers, up 0.50 per cent to 315.41 points, as the price of the December gold contract jumped US$32.30 to $1,672.80 per ounce on the New York Mercantile Exchange. That's its highest close since spring.
Advantage Oil and Gas Ltd. (TSX:AAV). Oil and gas. Up 42 cents, or 12.84 per cent, at $3.69 on 6,129,737 shares. The company announced Wednesday it hired RBC Capital Markets to sell its non-core assets and is expecting to explore strategic alternatives by the end of the year.
Yamana Gold Inc. (TSX:YRI). Miner. Up 16 cents, or 0.97 per cent, at $16.58 on 4,623,194 shares. The gold producer completed its acquisition of Extorre Gold Mines Ltd. (TSX:XG) Wednesday and provided an update on its project near the Chapada mine pit in Brazil. Yamana said it completed 20,000 metres of diamond drilling, out of a total planned program of 27,000 metres.
B2Gold Corp. (TSX:BTO). Miner. Down 17 cents, or 4.29 per cent, at $3.79 on 4,593,806 shares.
TSX Venture Exchange (1,248.08 up 2.42 points):
Rusoro Mining Ltd. (TSXV:RML). Miner. Unchanged at two cents, or 20,985,273 shares.
Sandstorm Gold Ltd. (TSXV:SSL). Miner. Down $1.20, or 11.20 per cent, at $9.51 on 3,229,558 shares.
Companies reporting major news:
Nexen (TSX:NXY). Oil and gas. Down 15 cents, or 0.58 per cent, at $25.54 on 1,258,617 shares. Prime Minister Stephen Harper said the US$15.1-billion proposed takeover bid of the Canadian oil-and-gas producer by The China National Offshore Oil Company, a Chinese state-owned firm, must be in the best long-term interest of Canada.
Yellow Media Inc. (TSX:YRI). Directories publisher. Up 16 cents, or 0.97 per cent, at $16.58 on 4,623,194 shares. The management of the directory publisher warned its debtholders and shareholders that it will pursue other "less favourable" options if the company's plan to cut nearly $2 billion in debt is not approved.
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