News! Research Reports Initiated on Basic Materials Stocks Eldorado Gold, Gran Colombia Gold, Nemaska Lithium, and IAMGOLD
LONDON, UK / ACCESSWIRE / May 1, 2017 / Active Wall St. announces the list of stocks for today's research reports. Pre-market the Active Wall St. team provides the technical coverage impacting selected stocks trading on the Toronto Exchange and belonging under the Metals & Mining industry. Companies recently under review include Eldorado Gold, Gran Colombia Gold, Nemaska Lithium, and IAMGOLD. Get all of our free research reports by signing up at:
At the closing bell on Friday, April 28, 2017, the Toronto Exchange Composite index edged 0.51% higher to finish the trading session at 15,586.13 with a total volume of 323,365,781 shares exchanging hands for the day.
Active Wall St. has initiated research reports on the following equities: Eldorado Gold Corporation (TSX: ELD), Gran Colombia Gold Corporation (TSX: GCM), Nemaska Lithium Inc. (TSX: NMX), and IAMGOLD Corporation (TSX: IMG). Register with us now for your free membership and research reports at:
Vancouver, Canada headquartered Eldorado Gold Corp.'s stock gained 8.95%, to finish Friday's session at $4.99 with a total volume of 3.48 million shares traded. Over the last one month and the previous three months, Eldorado Gold's shares have gained 6.85% and 11.63%, respectively. Shares of the Company, which together with its subsidiaries, engages in the exploration, development, and mining of gold properties in Turkey, Greece, Brazil, Serbia, and Romania, are trading above its 50-day and 200-day moving averages. Eldorado Gold's 50-day moving average of $4.53 is above its 200-day moving average of $4.35. See our research report on ELD.TO at:
On Friday, shares in Toronto, Canada headquartered Gran Colombia Gold Corp. recorded a trading volume of 86,176 shares. The stock ended the day 1.29% higher at $1.57. Gran Colombia Gold's stock has advanced 4.67% in the last one month and 16.30% in the past one year. The Company's shares are trading above its 50-day and 200-day moving averages. The stock's 200-day moving average of $1.55 is above its 50-day moving average of $1.46. Shares of the Company, which together with its subsidiaries, operates as a gold and silver exploration, development, and production company in Colombia, are trading at PE ratio of 5.27. The complimentary research report on GCM.TO at:
On Friday, shares in Quebec City, Canada headquartered Nemaska Lithium Inc. ended the session 0.84% lower at $1.18 with a total volume of 285,671 shares traded. Shares of the Company, which engages in the exploration and evaluation of hard rock lithium mining properties and related processing of spodumene into lithium compounds in Canada, are trading below its 50-day and 200-day moving averages. Furthermore, the stock's 200-day moving average of $1.32 is greater than its 50-day moving average of $1.30. Register for free and access the latest research report on NMX.TO at:
Toronto, Canada headquartered IAMGOLD Corp.'s stock closed the day 3.68% higher at $5.64. The stock recorded a trading volume of 2.57 million shares. IAMGOLD's shares have gained 6.21% in the last one month and 33.65% in the past one year. The company's shares are trading above their 50-day and 200-day moving averages. Moreover, the stock's 50-day moving average of $5.47 is greater than its 200-day moving average of $5.41. Shares of the Company, which explores for, develops, and operates gold mining properties in North and South America, and West Africa, are trading at a PE ratio of 47.00. Get free access to your research report on IMG.TO at:
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NEWS! Gran Colombia Gold Continues to Repurchase 2020 Debentures and Provides Details for Its First Quarter 2017 Results Webcast
May 02, 2017 TORONTO, ON --(Marketwired - May 02, 2017) - Gran Colombia Gold Corp. (TSX: GCM) announced today that it used funds available in the sinking fund for the 2020 Debentures (TSX: GCM.DB.V) to complete a block purchase at a discount under its normal course issuer bid of US$246,831 aggregate principal amount of 2020 Debentures for cancellation. As of today's date, the aggregate principal amount of the 2020 Debentures issued and outstanding is US$100,463,254.
First Quarter 2017 Results Webcast
The Company also confirmed today that it will release its financial results for the first quarter of 2017 after market close on Monday, May 15, 2017 and will host a conference call and webcast on Tuesday, May 16, 2017 at 9:30 a.m. Eastern Time to discuss the results.
Webcast and call-in details are as follows:
Live Event link: http://edge.media-server.com/m/p/5m34rv2o Toronto & International: 1 (514) 841-2157 North America Toll Free: 1 (866) 215-5508 Colombia Toll Free: 01 800 9 156 924 Conference ID: 44833416 A replay of the webcast will be available at www.grancolombiagold.com from Tuesday, May 16, 2017 until Thursday, June 15, 2017.
About Gran Colombia Gold Corp.
Gran Colombia is a Canadian-based gold and silver exploration, development and production company with its primary focus in Colombia. Gran Colombia is currently the largest underground gold and silver producer in Colombia with several underground mines in operation at its Segovia and Marmato Operations. Gran Colombia is continuing an expansion and modernization project at its Segovia Operations.
Additional information on Gran Colombia can be found on its website at www.grancolombiagold.com and by reviewing its profile on SEDAR at www.sedar.com.
For Further Information, Contact: Mike Davies Chief Financial Officer (416) 360-4653 investorrelations@grancolombiagold.com
NEWS! Gran Colombia Gold Receives Consent to Extend Maturity of US$47 Million of Senior Secured Convertible Debentures to 2024
May 12, 2017 TORONTO, ON --(Marketwired - May 12, 2017) - Gran Colombia Gold Corp. (TSX: GCM) announced today that its consent solicitation process (the "Consent Solicitation") concluded yesterday and holders of 77.4% of the total principal amount of the Company's issued and outstanding 2020 Debentures consented to the Company's proposal to amend the Amended and Restated Indenture dated as of January 20, 2016, as amended January 1, 2017, (the "Indenture") to provide holders the option to extend the maturity date of their 2020 Debentures to January 2, 2024 (the "Extended Debentures"). In addition, holders of a total of US$47.0 million of 2020 Debentures elected to extend their 2020 Debentures to 2024.
Commenting on the results of the Consent Solicitation, Serafino Iacono, Executive Co-Chairman of Gran Colombia said "we are very pleased with the strong support we have received from the holders of our 2020 Debentures in this process to improve our capital structure. As we move ahead, we will continue to execute our strategy and we remain committed to systematically reducing our issued and outstanding senior secured debt with our excess cash flow."
The Company expects to enter into a supplemental Indenture with its trustee shortly to implement the amendments described in the Consent Solicitation. It is also expected that the extension of the 2020 Debentures will be made effective May 31, 2017. Interest on the Extended Debentures will be paid monthly at an annual rate of 8% over the then remaining term of the Extended Debentures with the first full monthly interest payment to be paid on June 30, 2017.
The Company has received conditional listing approval from the Toronto Stock Exchange for the listing of Extended Debentures and it is anticipated that the Extended Debentures will be posted for trading under the symbol "GCM.DB.X", subject to satisfaction of the listing conditions.
Gold And Gold Miners - Gold Price's Run Will Start This Week
May 15, 2017
Summary
After three weekly drops in a row, gold prices will start their next round of running this week.
Gold miners once again served as an early indicator as to where gold prices will go next.
A review of my recent calls on the direction of gold and gold miners.
Gold Prices Dropped Three Weeks in A Row. But They Bottomed Last Week And Will Have A Run From This Week
Gold prices closed at 1,227.70 last Friday, up 0.28% for the day but still down 0.15% for the week. On weekly basis, gold has been down three weeks in a row. On the other hand, gold gained two days in a row after being down for the first three days last week. Last week's low was 1,214.30.
My view is that last week’s low will be the so-called “deeper correction” bottom and that gold will start its run from this week.
There are several reasons I made such a bullish call:
Gold touched the bottom of its recent uptrend trend line then bounced back last week. See its daily chart below:
2. Gold and gold miners are all falling into my downside target zones.
In my article “Gold & Gold Miners - A Small Pullback Or A Deeper Correction?”, published on April 23, I said:
gold price may face a deeper correction in coming weeks In order for it to be defined as a deeper correction, as I noted in my article, the drop in gold has to be more than $50 from its recent high.
As gold's recent high is $1,296, it was my view that gold would drop to below $1,246 during the pullback.
I did not give the exact pullback target in that article but gave my expectations later on in the article’s comments section.
Gold will drop to 1,200 – 1,210 or SPDR Gold Trust ETF (GLD) 115 level. VanEck Vectors Gold Miners ETF (GDX) may see bottom at 21.00 level and VanEck Vectors Junior Gold Miners ETF (GDXJ) may dip to 29-30 deep or Direxion Daily Junior Gold Miners Index Bull 3x Shares ETF (JNUG) drops to 3.00 – 3.50 (12.00 – 14.00 after 1:4 RS) level.
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