(Street Life is a regular feature that profiles what's playing in the stock market.)
ACT I: PINK IS THE NEW GOLD
* The Player: Potash Corp. of Saskatchewan (TSX:POT)
* Action: Up 14 per cent or $22.04 in a month (from $153.71 March 7)
* Recent Price: $175.75
* 52-Week High/Low: $179.98/$64.45 The secret's out and the Americans are in: Saskatchewan's the place to be.
Minnesota-based potash producer Mosaic Co.
announced plans to boost its operations in three centres in Canada's fastest-growing province (Colonsay, Esterhazy and Belle Plaine). The expansion, which will cost the company around US$3.15 billion, will boost annual capacity by 5.1 million tonnes to 15.5 million tonnes.
Mosaic shares rose 10 per cent on the news (to US$115.07 on the NYSE), but the fun didn't stop there: Canadian agriculture stocks got a lift as well.
Calgary's Agrium Inc. closed up four per cent to $69.86, and Potash Corp. of Saskatchewan hit yet another 52-week high, bolstered not only by Mosaic's announcement, but by ever-increasing global fertilizer demand and strong potash prices.
ACT II: HOLY-Y WAR
* The Player: Fission Energy Corp. (TSXV:FIS)
* Action: Up 26 per cent or $0.23 in a month (from $0.88 March 7)
* Recent Price: $1.11
* 52-Week High/Low: $1.59/$0.46 Sure there is potash, oil and potential diamonds under Saskatchewan's dirt, but it's uranium that has triggered a turf war between two B.C. companies.
Fission Energy Corp., a uranium exploration and development company based in Kelowna, along with its partner (a Korean consortium of companies), is claiming Vancouver-based Hathor Exploration Ltd. and partner Terra Ventures Inc. (also of Vancouver) are currently drilling on Fission's property.
In recent weeks, Hathor has announced significant uranium mineralization finds in several holes on the property, which is in the Athabasca Basin of Saskatchewan, and says its claim to the property is supported by a survey by a Saskatchewan-registered land surveyor.
But Fission says it is asking Hathor to cease drilling, and will file a dispute with the province's Ministry of Energy and Resources as well as pursuing "any other means available to it in law."
Fission's stock is up 26 per cent in a month and has fallen only slightly from a close of $1.25 on April 2. Hathor shares (TSXV:HAT) are down nine per cent in the month (to $2.22 April 7 from $2.44 March 7) and Terra stock (TSXV:TAS) is down 20 per cent in the month (to $0.56 April 7 from $0.70 March 7).
ACT III: KEEPING IT CANADIAN
* The Player: MacDonald, Dettwiler and Associates Ltd. (TSX:MDA) · Action: Down eight per cent or $3.88 in a day (from $46.85 April 9) · Recent Price: $42.97 (mid-day April 10) · 52-Week High/Low: $53.82/$37.38 It may be OK for Americans to access our natural resources (see Act I), but hands off our technology, says the federal government.
Conservative Industry Minister Jim Prentice has announced he is rejecting a US$1.325- billion deal in which MacDonald, Dettwiler and Associates Ltd. (MDA), a B.C.-based information systems and products company, would sell technology for the Radarsat 2 satellite along with land-based data processing centres.