(MENAFN- ProactiveInvestors) Toronto's main market seesawed as losses among energy producers following a drop in oil prices countered data showing the Chinese economy expanded faster than estimated.
In corporate activity () slumped 6.3 percent to C$6.25 after lowering its 2015 spending budget guidance to C$52 million from C$215 million and reducing its output view by 3 percent to 16600 barrels of oil equivalent a day.
() fell 3.6 percent to C$6.44 after the oil and natural gas company cut its 2015 capital spending and production guidance and sold non-core assets in response to the rapid deterioration of oil and gas commodity prices.
Revett Mining (NYSE MKT:RVM)() shares plummeted over 32.5 percent to 56 Canadian cents after announcing plans to place its Troy mine in Montana on care and maintenance citing low metal prices.
Pan American Silver (TSE:PAA) the world's fourth-largest silver producer gained 3.6 percent to C$13.75 after saying silver production for 2014 was a record 26.11 million ounces up slightly from a year earlier and gold production was a record 161500 ounces up 8 percent year-over-year. The miner said it expects similar consolidated silver production a “modest” rise in gold production and largely flat cash costs for 2015.
(TSE:KDX) says it expects to increase production by about 15 percent this year from 2014 confident of its ability to execute its growth plans. The company's fourth quarter capped a stellar year for the Nevada-focused gold miner which recovered a total of 107860 gold equivalent ounces in 2014 of which 30460 ounces were produced in the final quarter. Shares rose 3.8 percent to C$2.46 on Tuesday.
Elsewhere (TSE:CP) rose 1.8 percent to C$219.62 after the nation's second-largest rail operator said it has formed a joint venture with real-estate firm Dream Unlimited () to unlock the value of the railroad company’s surplus real-estate assets.
Moving to junior markets in Canada () has identified high grades of uranium niobium and tantalum at its Thambani project from a re-evaluation of surface work at the southern Malawi project. A trenching program carried out across the Thambani Massif focused on two sites of historical uranium exploration Chikoleka and Little Ngona targets.
Stria Lithium () said it is progressing with the development of its lithium ore processing technologies with its pilot plant now at the design stage having hired a third-party engineering firm to audit its proprietary process.
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