Toronto Stock Exchange May 16-19

A continuing slump in commodity prices dragged Toronto stocks down another 285.96 points to 11,545.77 during the holiday-shortened May 16-19 report period. The gold index had 5.8% of its value carved away, ending at 296.23. A lone rising nickel price helped offset the damage for the diversified miners, which finished 4.39 points lighter at 497.72.

EuroZinc Mining was the busiest miner, with just shy of 49 million shares sliding another 39 to $2.42. Portugal recently awarded the company four exploration concessions, giving the company the largest single-owner land package in the Iberian pyrite belt. A US$10-million surface exploration program is planned.

Falconbridge jumped another $3.15 to $55.50 after major shareholder Xstrata launched a widely anticipated bid for the 80% stake of the company it doesn’t already own. The all-cash offer trumps a recently sweetened bid by Inco. Inco slid $1.32 to $70.18, while its predator, Teck Cominco, fell $4.30 to $65.69.

Bema Gold rounded out the top three traders with nearly 31 million shares drifting 29 lower to $5.33.

Pure Gold Minerals was unusually busy, with 19.4 million shares advancing 1.5 to 8.5. The company can earn up to an 85% stake in six Nunavut projects from De Beers Canada by spending $15 million on exploration over three years. The work will be funded via private placements with De Beers involving a total of 17.5 million shares. Gordon Keevil has replaced Donald Sheldon as president; Sheldon remains a director and chairman.

Also busy was Northgate Minerals, which fell 18 to $4.05 on volume of around 14.8 million shares. Subsequent to the period’s end, the company tabled a $435-million share-swap bid for Aurizon Mines. Aurizon finished the period 8 cheaper at $2.30, but jumped to a 52-week high of $3.14 in the afternoon following the news on May 23.

Other gainers were: Brazillian Diamonds, up 20% to 30; Campbell Resources, plus 10.8% to 20.5; Tiberon Minerals, 7.4% better at $2.60; and Peru Copper, which finished 6.6% higher at $4.50.

Campbell plans to sell the Eastmain mine property to Eastmain Resources for $2.5 million in cash accompanied by 2 million shares and 1 million warrants. It will retain a 2% net smelter return royalty. Subsequent to the period’s end, Peru awarded Peru Copper water rights for the Toromocho project in the central Andes. The company must now apply for a water usage licence.

The period’s biggest percentage loser was Blue Pearl Mining; the company’s warrants fell 38% to $1.39, while its common shares slipped 30.6% to $2.04. There was no recent news from the company, which is drilling the Davidson molybdenum project, near Smithers, B.C.

Cambior shed 35, or 9%, ending at $3.50 after a strike forced the temporary suspension of operations at its flagship Rosebel gold mine in Suriname. The weeklong pause could affect the Quebec-based miner’s gold production goals for May.

TSX greatest percentage change

		Volume (000s)	High	Low	Close	Change
Pure Gld Mnr	PUG	19388	0.11	0.07	0.085	+21.4
Brazilian Diam	BDY	98	0.33	0.27	0.30	+20.0
Campbell Res	CCH	1604	0.205	0.185	0.205	+10.8
Teck Comin A	TEK.MVA	47	79.46	70.00	79.46	+8.0
Tiberon Mnrls	TBR	126	2.80	2.50	2.60	+7.4
Peru Copper	PCR	2317	5.00	4.24	4.50	+6.6
General Mnrls	GNM	189	1.68	1.55	1.65	+6.4
Cancor Mines	KCR	71	0.34	0.30	0.33	+6.4
CIC Energy	ELC	71	6.60	6.15	6.60	+6.4
Canarc Res	CCM	703	0.70	0.60	0.67	+6.3
Blue Pearl wt	BLE.WT	477	2.19	1.10	1.39	-38.2
Sterlite Gold	SGD	479	0.12	0.085	0.085	-34.6
Lumina Res	LUR	471	1.20	0.70	0.71	-32.3
Blue Pearl Mng	BLE	2867	2.92	1.70	2.04	-30.6
European Ml wt	EPM.WT	192	0.55	0.405	0.42	-30.0
HMZ Metals wt	HMZ.WT	185	0.015	0.015	0.015	-25.0
Grandview Gld	GVX	22	1.20	0.90	0.90	-21.7
Mundoro Mng	MUN	242	2.59	2.15	2.15	-20.0
Endeavr Silver	EDR	1650	4.34	3.18	3.50	-18.7
Mercator Mnls	ML	1080	2.65	1.95	2.17	-18.1

TSX greatest value change

		Volume	Close	Change
Teck Comin A	TEK.MVA	47060	79.46	+5.94
Falconbridge	FAL.LV	37423588	55.50	+3.15
Cameco Corp	CCO	6623176	43.54	+0.43
CIC Energy	ELC	70850	6.60	+0.40
Central Gold-T	GTU.UN	46225	27.50	+0.38
Dundee Prec Mt	DPM	522681	12.97	+0.31
Peru Copper	PCR	2316590	4.50	+0.28
Fronteer Dev G	FRG	1375885	5.72	+0.27
Tiberon Mnrls	TBR	125785	2.60	+0.18
Anatolia Minls	ANO	370031	3.40	+0.16
Goldcorp wt*	G.WT.U	17120	42.24	-8.26
Lundin Mng	LUN	377813	30.21	-4.81
Potash Cp Sask	POT	1005191	103.39	-4.36
Teck Comin B	TEK.SVB	22372718	65.69	-4.30
First Quantum	FM	1563196	49.31	-3.82
Goldcorp	G	18293362	33.88	-3.715
Alcan	AL	8073952	55.05	-3.63
Boliden AB	BLS	19087	18.75	-3.50
Newmont Mng	NMC	376061	57.37	-3.24
Inmet Mining	IMN	2361021	36.50	-3.16

TSX most active issues

		Volume(000s)	High	Low	Close	Change
EuroZinc Mng	EZM	48886	3.01	2.08	2.42	-0.39
Falconbridge	FAL.LV	37424	56.71	51.90	55.50	+3.15
Bema Gold	BGO	30761	5.84	4.99	5.33	-0.29
Teck Comin B	TEK.SVB	22373	71.94	64.06	65.69	-4.30
Breakwater Res	BWR	21784	1.28	0.99	1.21	-0.05
Pure Gld Mnr	PUG	19388	0.11	0.07	0.085	+0.015
Goldcorp	G	18293	38.45	32.02	33.88	-3.715
Inco Ltd	N	15539	76.27	68.09	70.18	-1.32