The TSX Composite Index held steady over the Feb. 26-March 3 trading period, thanks to solid gains from commodity producers.
Down 1%, the TSX closed the period 153 points lower at 13,544, while the Capped Metals and Mining Index rose 3% to 846 points.
Spot gold surged to an all-time high of US$983.50 per oz. on March 3, up nearly 5%, or US$45 over the period.
Strong gold meant a healthy Global Gold Index, which also reached a record 377 points, up almost 7%, or 24 points.
Silver and copper rose as well; silver closed at US$20.31 per oz. while copper surged to US$3.93 per lb.
In the markets, Breakwater Resources was the most actively traded stock. With an overall volume of 58 million shares, the company added 15 to its stock price to close at $1.28 apiece. Breakwater released the first set of drill results from its Dona Rosa deposit, located beneath its Aserradero deposit, in Chile. Highlights included 11 metres grading 3.4% zinc and 9.9 grams gold per tonne, 8.7 metres of 2.3% zinc and 14.6 grams gold, and 11.3 metres grading 2.6% zinc and 8.3 grams gold, all true widths. Breakwater also reported net earnings of $23.4 million over 2007, despite a loss of $38.3 million in the fourth quarter. The company plans to dole out $105.3 million in capital spending this year.
Lundin Mining was the second most actively traded stock. The company’s shares saw a 32-boost to $8.47 with nearly 48 million shares changing hands. Before impairment charges and income tax, the company earned US$453.6 million in 2007, an increase of 121%.
Eastern Platinum was also a hot stock as platinum reached US$2,232 per oz., up US$88 from the previous week. Eastern Platinum gained 23 for a close of $3.66 on nearly 40 million shares traded.
Great Panther Resourcessurged 63% over the period to $1.64 per share. The company confirmed the extension of high-grade gold-silver mineralization at its Guanajuato mine, in Mexico, by 170 metres to 600 metres depth.
Zincore Metals was lifted 33% to 36 a share on the release of a new resource estimate for its Yanque deposit — part of the Accha-Yanque belt in southern Peru. Inferred resources stand at 10.3 million tonnes grading 5.3% zinc and 5.3% lead for 1.2 billion lbs. zinc and 1.2 billion lbs. lead, using a cutoff of 4.5% combined zinc plus lead.
Australian Solomons Goldfell nearly 18% over the period to 60 apiece on no news.
Extract Resources dropped 17% to $1.25. The company gave a recent update on its Rossing South uranium deposit, part of the Husab uranium project in Namibia, where uranium mineralization is thought to extend over 3.2 km.
Agnico-Eagle Mines was the top gainer over the period, up $5.01 per share to $70.65. Agnico-Eagle invested $3 million in Forum Uranium through a private placement and now holds 12.75% of the company.
| TSX most active issues | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Breakwater Res | BWR | 58027 | 1.63 | 1.26 | 1.28 | -0.15 |
| Lundin Mng | LUN | 47548 | 9.35 | 7.89 | 8.47 | + 0.32 |
| Eastern Platin | ELR | 39771 | 3.69 | 3.35 | 3.66 | + 0.23 |
| Uranium One | UUU | 34410 | 5.47 | 4.83 | 5.03 | -0.02 |
| Yamana Gold | YRI | 32278 | 18.99 | 16.54 | 18.99 | + 2.05 |
| Silver Wheaton | SLW | 28202 | 17.93 | 16.16 | 17.50 | + 1.06 |
| TeckCominB | TCKB | 22740 | 41.69 | 37.00 | 40.97 | + 3.60 |
| KinrossGold | K | 22646 | 25.90 | 23.41 | 25.90 | +2.11 |
| Goldcorp | G | 22052 | 43.78 | 40.25 | 43.19 | + 2.24 |
| Chariot Res | CHD | 18722 | 1.06 | 0.94 | 1.00 | + 0.05 |
| TSX greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Great Panther | GPR | 4583 | 1.72 | 1.01 | 1.64 | + 62.3 |
| Zaruma Res | ZMR | 4035 | 0.235 | 0.165 | 0.235 | + 38.2 |
| Zincore Mtls | ZNC | 447 | 0.42 | 0.26 | 0.36 | + 33.3 |
| Liberty Mines | LBE | 1373 | 1.69 | 1.32 | 1.67 | + 30.4 |
| First Metals | FMA | 702 | 1.08 | 0.80 | 1.04 | + 30.0 |
| Independent Ni | INI | 814 | 0.36 | 0.24 | 0.31 | + 29.1 |
| Tiomin Res | TIO | 13107 | 0.09 | 0.065 | 0.09 | + 28.5 |
| Mediterrn Res | MNR | 2192 | 0.30 | 0.225 | 0.28 | + 27.2 |
| Gryphon Gold | GGN | 674 | 0.62 | 0.47 | 0.59 | + 26.8 |
| Carpathian Gld | CPN | 1299 | 0.55 | 0.40 | 0.53 | + 26.1 |
| New Gold wt | NGD_T | 6225 | 0.01 | 0.005 | 0.005 | -50.0 |
| Australn Solom | SGA | 343 | 0.70 | 0.59 | 0.60 | -17.8 |
| Extract Res | EXT | 65 | 1.40 | 1.25 | 1.25 | -16.6 |
| Amerigo Res | ARG | 1366 | 2.74 | 2.28 | 2.30 | -16.0 |
| Yukon Gold | YK | 88 | 0.29 | 0.22 | 0.245 | -15.5 |
| American Bonan | BZA | 1188 | 0.24 | 0.185 | 0.19 | -13.6 |
| Athabasca Pota | API | 1225 | 7.15 | 5.80 | 6.07 | -12.6 |
| Horizns G Bear | HGD | 3494 | 9.86 | 8.36 | 8.40 | -12.4 |
| Cline Mng | CMK | 803 | 0.355 | 0.28 | 0.29 | -12.1 |
| Timminco | TIM | 10298 | 23.05 | 19.30 | 19.75 | -11.6 |
| TSX greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| Agnico-Eagle | AEM | 4042979 | 70.65 | + 5.01 |
| Major Drilling | MDI | 654813 | 58.18 | + 4.30 |
| Silver Std Res | SSO | 704465 | 38.00 | + 4.29 |
| Teck Comin A | TCKA | 19810 | 47.67 | + 3.99 |
| Horizns G Bull | HGU | 2070463 | 34.26 | + 3.90 |
| IShCOMEXGTr | IGT | 34080 | 96.25 | + 3.65 |
| Barrick Gold | ABX | 14861961 | 52.92 | + 3.60 |
| Teck Comin B | TCKB | 22740194 | 40.97 | + 3.60 |
| Pan Am Silver | PAA | 1327331 | 41.10 | + 3.29 |
| Mag Silver | MAG | 719702 | 14.53 | + 2.43 |
| Potash Cp Sask | POT | 6932206 | 155.06 | -8.39 |
| Inmet Mining | IMN | 1949909 | 85.79 | -4.08 |
| Timminco | TIM | 10298108 | 19.75 | -2.60 |
| Russell Metals | RUS | 948650 | 25.05 | -1.67 |
| Agrium | AGU | 6103007 | 72.50 | -1.48 |
| Fording C C T | FDG_U | 4717472 | 49.87 | -1.45 |
| Horizns G Bear | HGD | 3494483 | 8.40 | -1.19 |
| First Quantum | FM | 2530653 | 89.98 | -0.97 |
| Athabasca Pota | API | 1225352 | 6.07 | -0.88 |
| Quadra Mng | QUA | 2827020 | 20.20 | -0.86 |

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