Weekly Round-Up: Gold Shakes Some Safe-haven Appeal; Silver, Copper Unchanged

Weekly Round-Up: Gold Shakes Some Safe-haven Appeal; Silver, Copper Unchanged

Gold moved down during the second half of the week as a stronger dollar offset some safe-haven gains. Meanwhile, silver remained unchanged. On the copper front, concerns about falling Chinese data kept prices at a standstill. Oil was down $1 on Friday on oversupply concerns.

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Company News

Agrium Rises Most in Five Years

Potash – Agrium Inc. (TSX:AGU), a Canadian fertilizer and seeds company, rose the most in five years after it was revealed that ValueAct Capital Management LLC disclosed that it has a 5.7 percent stake in the company.

NGEx Resources to Acquire 100 Percent of Filo Del Sol

Copper – NGEx Resources Inc. (TSX:NGQ) has entered an agreement to purchase a 40 percent interest in the Filo del Sol project, currently held by its partner Pan Pacific Copper Co., Ltd., for a 100 percent interest in the project. Under the terms of the agreement, NGEx will pay a total cash consideration of US$7.0 million to pan pacific.

CanAm Coal Explores Strategic Alternatives

Coal – CanAm Coal Corp. (TSXV:COE) announced it is considering a diversification strategy and alternative opportunities in order to generate additional shareholder value.

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Company Videos

Strata Minerals CEO Jason Bahnsen Talks Phosphate in Utah

Potash – Strata Minerals Inc. (TSXV:SMP) CEO Jason Bahnsen provided this video update on what investors can look forward to after the company recently announced its maiden Resource Estimate for the Diamond Mountain phosphate project in Utah.

Market News

Japan Warns of Volcano Activity near a Nuclear Plant

Uranium – Japan issued a warning on Friday that a volcano located about 64 kilometers away from a nuclear plant in southern Japan was showing signs of increased activity, raising concern that a small explosion could be on its way.

Copper to Gain on Seasonal China Demand

Copper – Reuters reported that LME copper is headed for weekly gains, even though prices dipped slightly on Friday. Copper for three month delivery dipped 0.2 percent to $6,680 a tonne by 0227 GMT. Prices could rise by 0.6 percent this week.

72 Ounce Gold Nugget On Sale in California for $400,000

Gold – Reuters reported that a 72 ounce gold nugget, which is bigger than a human palm and is believed to be the largest privately held nugget of its kind, went on sale in San Francisco on Thursday.

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