Toronto Stock Exchange April 17-23

After setting a benchmark close of 13,711.96 early in the trading period of April 17-23, the S&P-TSX Composite Index settled down and finished 31 points lower, at 13,628.97. The Capped Metals & Mining Index closed at 731.8 — a 2.5% decrease.

The Global Gold Index lost 16.88 points for a 306.95 close — a 5.2% drop, while gold itself managed a gain of US$2.20, bringing it to US$688.70 per oz. The energy sector was a little stronger, as crude oil climbed US$1.78 to US$65.89 per barrel. The rise came on concern that shipments from Nigeria may be disrupted as complaints about the fairness of the recent presidential election cause ongoing violence.

Dynatec saw the most action over the period after Sherritt International announced a $1.6-billion takeover of the company. Dynatec shares closed up 64 at $4.47 on a trading volume of 142 million shares. Eastern Platinum was next in terms of volume, with 43.4 million shares changing hands, moving the share price up 31 to $2.47.

Armistice Resources’ shares were bumped up over the week to $1.10 — a nearly 49% increase — giving it the biggest percentage gain for the period. Armstice has completed the dewatering phase of its $4-million exploration program at the McGarry gold property in northeastern Ontario, which is adjacent to the past-producing Kerr Addison gold mine, which produced more than 11 million oz. gold. Next, it will begin rehabilitation of the 2,250-ft. level, so diamond drilling can begin.

Spur Ventures was second on the list with a 34% gain, bringing its share price to 71, while Caledonia Mining was third with a 31% increase on news of a new resource estimate for its 100%-owned Nama project, composed of several cobalt and copper deposits in the northwestern portion of the Zambia copper belt. The new resource for the Anomaly C area is 78.2 million tonnes grading 0.043% cobalt, 0.012% copper and 0.019% nickel, bringing total resources to 121.9 million tonnes averaging 0.047% cobalt, 0.043% copper and 0.016% nickel.

Russell Metals topped the list for biggest value change, with a boost of $1.49 for a $31.90 close. FNX Mining followed closely behind, with a bump of $1.40 to $27.05 on trading volume of 11.3 million shares. The rise came on the news that Sherritt was taking over its 24.5% partner, Dynatec.

On the losing side, First Quantum saw the biggest value loss, backing up $4.33 and ending the period at $76.75.

Teck Cominco shares fell $4.06 to $84.75; the company released its first-quarter results on April 23. Teck’s net earnings totalled $390 million for the quarter or 1.67 per share, compared with $448 million, or $2.19 per share, in last year’s first quarter.

Shares of Agnico-Eagle Mines were off $2.88 for the period; Agnico said it had only acquired 81.1% of Cumberland Resources’ shares by its April 19 deadline to acquire 100% of the company. The deadline is now April 30.

TSX greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Armistice Res	AZ	572	1.15	0.67	1.10	+	48.6
Spur Ventures	SVU	2619	0.72	0.51	0.71	+	33.9
Caledonia Mng	CAL	12070	0.23	0.16	0.23	+	31.4
Inspiration Mg	ISM	1021	4.19	3.18	4.19	+	30.9
First Metals	FMA	1202	1.20	0.85	1.10	+	22.2
Ontex Res	ONT	233	0.23	0.16	0.23	+	21.0
First Nickel	FNI	17524	1.61	1.27	1.60	+	17.6
Timminco	TIM	9939	4.13	2.89	3.65	+	17.3
Intl Nickel Vn	INV	801	2.07	1.65	2.05	+	17.1
Dynatec Corp	DY	142241	4.57	3.68	4.47	+	16.7
Ascendant C wt	ACX_T	214	0.15	0.10	0.10	–	33.3
Goldstake Exp	GXP	658	0.195	0.16	0.16	–	21.9
New Gold wt	NGD_T	43	0.69	0.54	0.54	–	19.4
Ascendant Copp	ACX	48	0.79	0.66	0.69	–	17.8
Hillsborough	HLB	1105	0.62	0.48	0.52	–	16.1
San Anton Res	SNN	751	1.90	1.60	1.60	–	14.4
Yukon Gold	YK	100	0.71	0.59	0.60	–	14.2
Niocan Inc	NIO	219	0.95	0.71	0.80	–	13.9
NovaGold Res	NG	5188	20.03	17.18	17.26	–	13.6
HMZ Metals	HMZ	1339	0.075	0.065	0.065	–	13.3

TSX greatest value change

		VOLUME	CLOSE		CHANGE
Russell Metals	RUS	2398503	31.90	+	1.49
FNX Mining	FNX	11328435	27.05	+	1.40
Skye Res	SKR	3796575	14.44	+	1.21
Kirkland Lk Gd	KGI	1836417	13.10	+	1.20
Inmet Mining	IMN	1423646	67.34	+	1.14
Inspiration Mg	ISM	1020833	4.19	+	0.99
Scandinav Mnl	SGL	227091	8.02	+	0.83
Northern Peru	NOC	454606	8.59	+	0.75
Jaguar Mng	JAG	1216187	7.15	+	0.72
Quadra Mng	QUA	6192146	13.70	+	0.70
First Quantum	FM	2072210	76.75	–	4.33
Teck Comin B	TCKB	5237761	84.75	–	4.06
Agnico-Eagle	AEM	3467458	41.42	–	2.88
NovaGold Res	NG	5187978	17.26	–	2.73
Silver Std Res	SSO	610074	42.43	–	2.64
Pan Am Silv wt	PAA_T	16555	22.62	–	2.24
Pan Am Silver	PAA	803884	34.35	–	2.18
Sherritt Intl	S	22684972	15.38	–	2.02
Potash Cp Sask	POT	1034947	206.88	–	1.92
Meridian Gold	MNG	1376738	30.25	–	1.85

TSX most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Dynatec Corp	DY	142241	4.57	3.68	4.47	+	0.64
Eastern Platin	ELR	43477	2.54	2.14	2.47	+	0.31
Tiomin Res	TIO	36590	0.195	0.155	0.17		0.00
Breakwater Res	BWR	29363	2.33	2.04	2.15	–	0.1 8
Sherritt Intl	S	22685	17.60	15.00	15.38	–	2.02
Blue Pearl Mng	BLE	20321	17.87	16.11	17.45	+	0.40
Goldcorp	G	18725	30.32	28.31	28.51	–	1.71
Paladin Res	PDN	18580	9.38	8.30	8.99	–	0.68
First Nickel	FNI	17524	1.61	1.27	1.60	+	0.24
LionOre Mng In	LIM	17368	19.08	18.78	18.90	–	0.15