Toronto Stock Exchange May 29 – June 4

The S&P-TSX Composite Index finished the May 29-June 4 trading period 73 points higher, at 14,146.740.

The S&P-TSX Global Gold Index gained 6 points over the session for a 282.51 close, while the gold price rose 2.4%, or US$15.80, to US$671.10 per oz.

The Capped Metals and Mining Index saw a 23-point boost to 825.76 though the price of copper dropped US2 to US$3.37 per lb. Copper has fallen US39 per lb. over the past month, though analysts say the price is still strong; global stockpiles are down 40% since February, causing supply fears.

A 74% gain in share price for General Minerals over the period easily put the company at the top of the percentage gainers’ list; shares in the company closed at $3.14 apiece. General Minerals bought an option to earn up to 70% of the Batamote gold property, in the Sonora gold belt of Mexico. The company is looking to raise $60 million through a private placement.

Fortune Minerals was up 34% to $3.90. The company increased its stake in the Nico cobalt-gold-bismuth project in the Northwest Territories to 100%, after it bought the remaining 9.2% of the property from Candou Industries. Fortune also transferred its 30% minority interest in Formosa Environmental Aggregate to Federal White Cement.

Right behind Fortune, WGI Heavy Minerals gained 33.3%, bringing its share price up to $1.00 on no recent news, while Duluth Metals gained 33% to close the week at $1.73 on positive drill results from its Maturi Extension project, near Ely, Minn. One hole at Maturi intersected 265 ft. grading 0.64% copper, 0.21% nickel, 0.29 gram palladium, 0.13 gram platinum and 0.07 gram gold per tonne.

On the losing side, Opawica Explorations was down 25.9% to 10 per share. The company reported a $700,000 private placement and an option and joint-venture agreement that will allow Northgate Minerals to earn up to 55% in Opawica’s Matachewan, Ont., gold-copper-silver properties.

Shares in Africo Resources dropped 22.8% to $1.79 over the period after the company gave investors an update in its court battle over the ownership of the Kalukundi project, in Katanga province, in the Democratic Republic of the Congo.

Dynatec was the most active stock in the market, seeing trading volume of nearly 53 million shares, and a 5 increase to $5.18 per share. In April, Sherritt International announced a $1.6-billion takeover plan for Dynatec, the 45%-owner of the massive Ambatovy nickel project in Madagascar.

LionOre Mining International saw a lot of movement with nearly 46 million shares traded as its share price fell 78 to $27.30. Norilsk Nickel and Xstrata have been battling for LionOre in what turned into a high-stakes bidding war that Norilsk appears to have won with its latest $6.8-billion bid.

TSX greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
General Mnrls	GNM	238	3.20	1.65	3.14	+	79.4
Fortune Mnrls	FT	250	4.00	2.91	3.90	+	34.0
WGI Heavy Mnl	WG	33	1.15	0.85	1.00	+	33.3
Duluth Metals	DM	823	1.73	1.26	1.73	+	33.0
Tiomin Res	TIO	17565	0.165	0.125	0.165	+	32.0
Baffinland Irn	BIM	1803	3.41	2.60	3.41	+	29.6
Victory Nickel	NI	6135	0.99	0.72	0.98	+	28.9
New Gold wt	NGD_T	74	0.38	0.25	0.38	+	26.6
Teal Expl & Mg	TL	268	5.35	4.02	5.20	+	25.6
Capstone Mng	CS	1500	2.97	2.27	2.85	+	24.4
Opawica Expl	OPW	12197	0.12	0.09	0.10	–	25.9
Africo Res	ARL	383	2.60	1.68	1.79	–	22.8
BrazMin	BZM	82	1.24	1.10	1.18	–	15.1
CGA Mining	CGA	10	0.50	0.45	0.45	–	15.0
Starfield Res	SRU	38606	1.50	1.09	1.25	–	14.3
Peru Copper	PCR	959	6.17	5.10	5.74	–	13.8
Moydow Mns Int	MOY	459	0.21	0.19	0.19	–	13.6
Forsys Metals	FSY	2447	6.88	5.98	6.20	–	13.4
Coalcorp wt	CCJ_T	135	0.235	0.20	0.21	–	12.5
Cline Mng	CMK	442	0.345	0.285	0.305	–	10.2

TSX greatest value change

		VOLUME	CLOSE		CHANGE
Inmet Mining	IMN	1452609	80.50	+	6.85
Potash Cp Sask	POT	4551465	78.11	+	4.60
Agnico-Eagle	AEM	4872059	40.12	+	3.89
First Quantum	FM	1962043	90.44	+	3.85
Cameco Corp	CCO	9506119	57.86	+	2.82
Aur Res	AUR	5458226	31.75	+	2.71
Pan Am Silv wt	PAA_T	353636	19.30	+	2.55
FNX Mining	FNX	6739544	37.19	+	2.48
Pan Am Silver	PAA	767243	31.06	+	2.37
Altius Mnrls	ALS	720617	15.15	+	2.36
Alcan	AL	9562013	90.20	–	4.05
Aurelian Res	ARU	3365109	28.27	–	2.76
Boliden AB	BLS	15800	21.78	–	1.72
Forsys Metals	FSY	2447337	6.20	–	0.96
Peru Copper	PCR	959142	5.74	–	0.92
LionOre Mng In	LIM	45539685	27.30	–	0.78
Africo Res	ARL	382518	1.79	–	0.53
Vista Gold	VGZ	96478	5.71	–	0.44
Globex Mng	GMX	144437	4.62	–	0.43
Europn Goldfld	EGU	323760	4.85	–	0.39

TSX most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Dynatec Corp	DY	52798	5.29	4.91	5.18	+	0.05
LionOre Mng In	LIM	45540	28.74	27.22	27.30	–	0.78
Starfield Res	SRU	38606	1.50	1.09	1.25	–	0.21
Equinox Minls	EQN	35593	3.40	3.02	3.33	+	0.25
Eastern Platin	ELR	25165	2.50	2.02	2.40	+	0.04
SXR Uranm One	SXR	23917	17.03	15.65	16.10	–	0.28
Kinross Gold	K	22019	14.87	13.45	14.34	+	0.39
Breakwater Res	BWR	19665	2.55	2.24	2.50	+	0.08
Goldcorp	G	19057	26.44	24.01	25.90	+	1.35
Barrick Gold	ABX	17751	31.66	30.50	30.96	–	0.25