U.S. Markets May 2-8

With the notable exception of companies developing projects in Bolivia and other politically volatile nations, resource companies listed on U.S. markets attracted increased investor attention over the report period May 2-8. The Standard & Poor’s 500 Index gained almost 20 points over the period, to close at 1,324.66.

Rio Tinto, a diversified miner with a geographic footprint on every continent except Antarctica, shot up another US$13.64 to US$240.34 and took top spot as highest value gainer.

Coeur d’Alene Mines posted record first-quarter earnings, but fell US84 to US$6.04 because of uncertainty about development of the company’s San Bartolome silver project in the South American nation.

President Evo Morales recently nationalized Bolivia’s gas sector, and is now threatening to exert greater state control over the mining industry through new legislation and higher taxes. The newly elected president is taking his cues from Venezuela’s militant Hugo Chavez, who nationalized that country’s oil-and-gas sector and disallowed foreign companies from directly owning mineral assets.

Companies can still operate mines in Venezuela, under state-imposed terms and conditions, but growing uncertainty has clipped the shares of companies active in the nation. Gold Reserve fell US$1.98 to US$7.10, while shares of Crystallex International lost 15% of their value to US$4.83. Both companies are developing gold projects in the Kilometre 88 district of Bolivar state.

Uncertainty about Bolivia’s investment climate also hit Apex Silver Mines, which shed US$4.00 to close at US$17.00. The company is continuing to develop its huge San Cristobal silver mine in the Potosi region after receiving government assurances that the mining sector will be spared from full-scale nationalization.

Pan American Silver also lost ground, off US$2.39 at US$21.86. The company’s exposure to Bolivia is limited to a 55% interest in the San Vincente silver mine project. The company holds a large portfolio of silver projects in Mexico and South America, Russia and North America.

U.S. greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Centrl Minera*	CENMF	174	0.05	0.025	0.05	+100.0
Metalline Mng*	MMGG	2036	3.87	2.45	3.74	+44.4
New Jersey Mg*	NJMC	1114	1.25	0.64	0.93	+38.8
Cardero Res*	CDY	758	3.47	2.40	3.40	+36.0
Lafayette Mng*	LYMGF	82	0.13	0.08	0.12	+33.3
Trend Mng*	TRDM	1838	0.285	0.195	0.28	+30.2
Tara Gold*	TRGD	7236	0.62	0.43	0.58	+28.8
Little Squaw*	LITS	782	1.25	0.95	1.25	+23.7
Taseko Mines*	TGB	4130	4.05	3.38	4.05	+20.1
Patriot Gold*	PGOL	155	0.27	0.24	0.27	+20.0
El Capitan Pr*	ECPN	3656	3.88	1.85	2.65	-31.7
Golden Eagle*	MYNG	36608	0.024	0.015	0.018	-28.0
Shoshone Silv*	SHSH	221	0.37	0.26	0.26	-23.5
Gold Reserve*	GRZ	1269	9.00	6.96	7.10	-21.8
APEX Silver*	SIL	12745	20.80	13.57	17.00	-19.0
Apolo Gold*	APLL	1193	0.15	0.121	0.125	-17.2
Silverado*	SLGLF	24391	0.171	0.14	0.142	-16.4
Crystallex In*	KRY	10638	5.73	4.53	4.83	-15.7
Contintl Mnls*	KMKCF	996	2.67	2.09	2.14	-13.8
Fischer-W Gld*	FWGO	240	0.105	0.095	0.095	-13.6

U.S. greatest value change

		VOLUME	CLOSE	CHANGE
Rio Tinto*	RTP	1269600	240.34	+13.64
Inco Ltd*	N	18724700	67.09	+10.24
Potash C Sask*	POT	4258600	103.81	+8.82
Cleveland-Cli*	CLF	2691500	96.33	+8.16
Arch Coal*	ACI	6504100	107.72	+7.55
Falconbridge*	FAL	1144300	45.23	+4.70
CONSOL Energy*	CNX	5647000	91.30	+4.45
Massey Energy*	MEE	9745500	43.68	+4.20
Yanzhou Coal*	YZC	234200	47.36	+3.91
Phelps Dodge*	PD	18398400	93.36	+3.56
APEX Silver*	SIL	12745000	17.00	-4.00
Pan Am Silver*	PAAS	12275656	21.86	-2.39
Newmont Mng*	NEM	28969700	55.73	-2.25
Royal Gold*	RGLD	3460585	31.38	-2.12
Gold Reserve*	GRZ	1269100	7.10	-1.98
Gold Fields*	GFI	8537900	23.42	-1.97
Fording C C T*	FDG	2045200	35.99	-1.52
Mesabi Trust*	MSB	343800	20.88	-1.49
El Capitan Pr*	ECPN	3655707	2.65	-1.23
Central Gld-T*	CLGLF	10870	24.87	-1.19

U.S. most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
AuGrid*	AUGC	387535	0.002	1.0E8	0.001	0.00
Goldspring*	GSPG	78264	0.014	0.011	0.012	0.00
Coeur d Alene*	CDE	42772	7.00	5.86	6.04	-0.84
Golden Eagle*	MYNG	36608	0.024	0.015	0.018	-0.007
Newmont Mng*	NEM	28970	58.47	54.78	55.73	-2.25
Barrick Gold*	ABX	28235	34.59	30.54	33.97	+2.97
Silverado*	SLGLF	24391	0.171	0.14	0.142	-0.028
Alcoa*	AA	24281	36.15	33.27	36.12	+2.20
DRDGOLD*	DROOY	23234	1.611	1.48	1.51	-0.10
Goldcorp*	GG	21179	39.14	36.33	38.32	+2.28