Toronto Stock Exchange July 31-August 3

The bears began to lick their chops as the TSX Composite Index fell with international markets, losing 299.48 points for the July 31-Aug. 3 trading period.

Although the price of gold rose US$10 to US$671.50 per oz., the Global Gold Index fell, in line with the market as a whole. It was down 11.4 points to 278.62.

The Capped Metals & Mining Index was off 43.08 points as copper, aluminum, nickel and zinc prices all fell. Tin and lead prices, however, continued to climb. Tin finished the period at US$7.34 per lb. while lead hit US$1.47 per lb.

Uranium producer Paladin Resources vaulted into the position of second most actively traded for the period, although it likely could have done without all the attention. The Perth, Australia-based company lost 13% of its share price, tumbling to $5.76 on volume of roughly 14 million shares. The sell-off came on news that its Langer-Heinrich project in Namibia missed its production target due to a dryer problem, which, the company says, has since been resolved. The lower production coincided with falling uranium prices, giving the company a one-two punch.

Equinox Minerals was again the most actively trade of the miners, while Canada’s second-largest gold producer, Goldcorp, rounded out the top three with 12.5 million shares traded.

Intervals of 1.25 grams gold over 80 metres and 27.9 grams over 5.5 metres were enough to send Cusac Gold Mines to the top of the gainers by percentage list. The Vancouver-based junior added nearly 17% to its share price, rising to 21 for the period.

New zones of copper, gold and silver mineralization found at Gitennes Exploration’s TokoRoko project, in Peru, sent the company’s shares up 16% to 51 apiece. An update on the project from the company highlighted an interval at the project of 1,230 grams silver per tonne over 3 metres.

A completed feasibility study for Formation Capital’s Idaho cobalt project failed to impress the markets. The company lost close to 16% of its share price as it finished the period at 65. The project has proven and probable reserves of 2.4 million tonnes grading 0.559% cobalt, 0.596% copper and 0.5 gram gold based on a cutoff grade of 0.2% cobalt for a 10-year mine life.

Skye Resources announced that it will pay additional royalties to the Guatemalan government for its Fenix nickel project. The new deal is based on a sliding scale depending on nickel prices, but could be as high as 4% if nickel hits US$22 per lb. The company will pay the new royalty in addition to its existing 1% royalty. The company’s shares fell 11% to $13.41 for the period.

TSX greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Cusac Gold	CQC	2591	0.215	0.175	0.21	+	16.6
Gitennes Expl	GIT	3098	0.53	0.45	0.51	+	15.9
Glencairn G wt	GGG_T	85	0.08	0.06	0.075	+	15.3
South Am Gld&C	SAG	372	0.04	0.035	0.04	+	14.2
Corriente Res	CTQ	1170	5.95	5.17	5.52	+	13.5
New Gold wt	NGD_T	58	0.255	0.18	0.21	+	13.5
Timminco	TIM	4079	6.35	5.64	7.00	+	12.0
Jaguar Nickel	JNI	123	0.20	0.18	0.20	+	11.1
Klondex Mns	KDX	265	2.48	2.20	2.44	+	10.4
BioteQ Env	BQE	470	4.50	3.76	4.08	+	10.2
Carlisle Goldf	CGJ	40	0.26	0.23	0.245	–	18.3
Kinross Gld wt	K_T	46	0.60	0.50	0.455	–	18.0
South Am Silvr	SAC	572	1.20	0.99	1.00	–	17.3
Formation Cap	FCO	8458	0.80	0.52	0.65	–	15.5
Virgin Metals	VGM	518	0.69	0.58	0.58	–	13.4
Paladin Res	PDN	13908	7.03	5.91	5.76	–	12.9
Western C Coal	WTN	3085	2.83	2.21	2.24	–	12.5
Skye Res	SKR	709	16.49	14.05	13.41	–	11.4
General Mnrls	GNM	157	2.85	2.50	2.62	–	11.1
Centamin Egypt	CEE	3308	1.30	1.14	1.19	–	11.1

TSX greatest value change

		VOLUME	CLOSE		CHANGE
Potash Cp Sask	POT	3810447	89.92	+	1.62
MMX Min e Met	XMM	167675	15.90	+	0.90
FNX Mining	FNX	2513842	30.42	+	0.82
Timminco	TIM	4078980	7.00	+	0.75
Corriente Res	CTQ	1169928	5.52	+	0.66
Taseko Mines	TKO	1971174	5.40	+	0.42
Aurora Energy	AXU	364505	14.47	+	0.41
Allied Nevada	ANV	39227	6.39	+	0.40
BioteQ Env	BQE	469740	4.08	+	0.38
Far West Mng	FWM	65729	4.15	+	0.33
Altius Mnrls	ALS	825100	19.80	–	2.46
First Quantum	FM	1951269	94.60	–	2.03
Silvercorp Mtl	SVM	799796	20.79	–	1.84
Skye Res	SKR	708846	13.41	–	1.74
Alcan	AL	4464833	100.93	–	1.72
Meridian Gold	MNG	2524516	28.53	–	1.60
Inmet Mining	IMN	998872	87.75	–	1.44
Aber Diamond	ABZ	403446	38.59	–	1.40
Silver Std Res	SSO	323253	37.38	–	1.36
Northern Peru	NOC	499230	10.00	–	1.24

TSX most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Equinox Minls	EQN	24860	4.32	3.92	3.95	–	0.13
Paladin Res	PDN	13908	7.03	5.91	5.76	–	0.86
Goldcorp	G	12498	27.85	25.94	26.00	–	1.17
Uranium One	SXR	12068	13.15	11.72	11.85	–	0.84
Breakwater Res	BWR	11313	3.48	3.07	3.04	–	0.15
Kinross Gold	K	11230	14.47	13.15	13.36	–	0.95
Eldorado Gold	ELD	10673	5.05	4.61	5 .07	+	0.07
Chariot Res	CHD	10167	1.27	1.09	1.17	–	0.04
Eastern Platin	ELR	9713	2.57	2.42	2.45	–	0.01
Yamana Gold	YRI	9680	12.17	11.08	11.24	–	0.69