Toronto Stock Exchange April 3-9

Metals and gold prices set the TSX Composite Index sailing to new records during the holiday-shortened trading period April 3-9. After hitting a benchmark of 13,448.31 on April 4, the TSX rose 316.83 points, closing the week at 13,482.33.

The Global Gold Index was up 79.5 points over the period to 318.23 while the London gold fix climbed US$11.75 to US$673.50 before the Easter weekend.

The Capped Metals & Mining Index was also strong, closing 42.08 points higher at 731.79. The price of copper rose to US$3.33 per lb. from about US$3.10; and nickel rose to US$22.73 per lb. from US$21.00.

With a 280% gain in share price, Timminco made the greatest percentage change for the period. The company announced a 10-million-share, $26.5-million bought-deal financing to be used to expand the company’s silicon facility at its subsidiary, Becancour Silicon. Also high on the gainers-by-percentage list were gold companies Carlisle Goldfields, Yukon Gold and Corona Gold, which saw increases of between 45.4% and 48%.

On the losing side, StrataGold shares lost 17.3%, closing at 62 after the company released its first National Instrument 43-101 resource estimate for its Tassawini and Anaturi gold properties in Guyana. The projects have an indicated resource of 3.7 million tonnes grading 1.73 grams gold per tonne, or 208,000 oz. and an inferred resource of 3.7 million tonnes grading 1.27 grams gold, or 151,000 oz.

Ivernia shares also fell, shedding 15.7% due to a lead poisoning scare that has forced the company to close its Magellan mine, in Western Australia, while it looks for a new way ship its lead concentrate.

Rio Narcea Gold Mines saw the most activity over the week, trading nearly 77 million shares after reaching an agreement with Lundin Mining for a friendly all-cash takeover worth $993 million. Rio Narcea shares ended the period 50 higher at $5.10. Next on the list was Equinox Minerals, which saw 51 million shares traded and a 12 gain to $2.44. The company announced in March that it had begun a bankable uranium feasibility study for its Lumwana copper project in Zambia.

Potash Corp. of Saskatchewan recorded the biggest cash gain for the session, gaining $10.76 per share for a closing price of $195.52. The company recently announced it would bring back 360,000 tonnes of previously idled potash capacity at its Patience Lake mine, which is expected to produce 240,000 tonnes in 2007. The company plans to produce 13.5 million tonnes potash per year by 2011, up from 10 million tonnes last year.

Uranium giant Cameco also saw a significant gain of $5.98 per share, rising to $54.06, while First Quantum Minerals shares were boosted by $4.21 to $80.75 apiece. Shore Gold fell 97 to $6.69; New Gold dropped 91 to $8.15; and Royal Gold lost 86 over the period for a $34.00 close.

TSX greatest percentage change

TSX greatest value change

TSX most active issues