TORONTO STOCK EXCHANGE MAY 27-JUNE 2

The TSX Composite Index held steady over the May 27-June 2 trading period, rising 55.61 points to 14,814.18, but still ended the week 1.5% off its May 20 record of 15,047 points.

The Capped Metals & Mining Index edged up 3.33 points to 861.26, while the Global Gold Index showed a stronger gain of 7.96 points, or 2.4%, to 321.89 as the price of gold recovered to US$888.25 per oz. after falling as low as US$879.50 on May 30.

Emerging coal producer Cline Mining saw the greatest percentage increase over the period, up nearly 75% to $1.78 per share. The company plans to bring the New Elk metallurgical coal mine, in Colorado, back into production and bought all of the property’s surface assets for US$1.6 million in May. Cline stock has since risen more than 300% — but all is not sunshine and roses for the company. U. S. Democratic presidential nominee Barack Obama has announced his opposition to Cline’s Lodgepole project, in southern B. C., for environmental reasons.

Arehada Mining shares rose 25% over the period to 45 each. The company, which produces zinc, lead and silver in Inner Mongolia, China, has finally finished the first phase of construction of a 50,000-tonne-per-year plant to produce zinc oxide and sulphuric acid from concentrate. The company’s first-quarter results show that production has increased to 1,434 tonnes per day from 1,340 — still short of the 1,500-tonne-per-day target. Arehada is working toward mining at a rate of up to 3,000 tonnes per day.

Energem Resources was the top loser on a percentage basis, down 28.5% to 25 per share. The company signed a memorandum of understanding to take on a 40% interest in a 900-megawatt hydroelectric project in Tanzania, starting with US$1.2 million to update engineering and feasibility studies done in the 1980s. Unofficial projections have put the project cost at US$2 billion.

Potash Corp. of Saskatchewan continued to prove it had not yet hit a ceiling, earning the spot as the top value gainer over the period, followed by fellow fertilizer maker Agrium. Potash Corp. shares advanced $7.49 to $203.37 apiece, while Agrium shares rose $3.52 to $487.34.

Inmet Mining saw the biggest dollar loss over the period, falling $4.92 to $66.30 per share. Inmet has had its fair share of trouble lately, with the latest crisis at its Las Cruces project in Spain, where the water authority suspended a permit needed for production. Development at Inmet’s 48%-owned Petaquilla project, in Panama, could also be delayed due to infighting between its jointventure partners, Petaquilla Copper and Teck Cominco. And in March, development at Inmet’s Cerattepe copper project in Turkey was halted by a court injunction; two NGOs are challenging the project’s operating licences, alleging the government granted the licences without following environmental assessment regulations.

TSX most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Yamana Gold	YRI	24562	15.77	14.57	15.50	-0.20
Eastern Platin	ELR	21780	2.86	2.65	2.74	-0.08
Uranium One	UUU	21274	4.99	4.61	4.87	+ 0.06
Silver Wheaton	SLW	18397	14.68	13.84	14.60	+ 0.11
Kinross Gold	K	17051	20.35	19.30	20.12	-0.02
Cline Mng	CMK	16981	1.95	1.00	1.78	+ 0.76
WesternCCoal	WTN	16554	8.68	6.72	8.49	+ 1.32
Equinox Minls	EQN	15077	4.76	4.55	4.59	-0.24
Barrick Gold	ABX	14557	41.16	38.65	40.40	-1.20
Goldcorp	G	12705	41.17	39.00	40.73	-0.57

TSX greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Cline Mng	CMK	16981	1.95	1.00	1.78	+ 74.5
High Desert Gd	HDG	2619	0.22	0.15	0.20	+ 25.0
Arehada Mining	AHD	246	0.50	0.33	0.45	+ 25.0
Grandview Gld	GVX	200	0.30	0.24	0.29	+ 20.8
Tiomin Res	TIO	4357	0.08	0.05	0.06	+ 20.0
Nautilus Minls	NUS	1519	2.98	2.18	2.70	+ 20.0
Franc-Or Res	FOR	75	0.12	0.10	0.12	+ 20.0
Nevsun Res	NSU	2565	1.99	1.54	1.96	+ 19.5
Western C Coal	WTN	16554	8.68	6.72	8.49	+ 18.4
Contl Precious	CZQ	459	1.41	1.14	1.40	+ 17.6
Energem Res	ENM	1145	0.37	0.24	0.25	-28.5
Malaga	MLG	183	0.28	0.21	0.23	-20.6
Adanac Moly	AUA	2283	0.90	0.69	0.72	-20.0
Blue Note Mng	BN	9095	0.22	0.16	0.16	-20.0
Vaaldiam Res	VAA	1822	0.38	0.31	0.31	-18.4
Coalcorp wt	CCJ_T	98	0.13	0.09	0.10	-16.6
San Anton Res	SNN	580	0.38	0.31	0.32	-15.7
Laramide Res	LAM	636	4.89	4.02	4.19	-14.3
Mawson Res	MAW	165	1.20	1.00	1.01	-13.6
Cardero Res	CDU	863	2.96	2.55	2.61	-13.0

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Potash Cp Sask	POT	7415846	203.37	+ 7.49
Agrium	AGU	6911935	87.34	+ 3.52
Fording C C T	FDG_U	32131 14	80.52	+ 3.02
Timminco	TIM	11865828	30.45	+ 2.75
Harry Winston	HW	856315	30.35	+ 2.49
MMXMineMet	XMM	15921	34.75	+ 1.73
CIC Energy	ELC	1323197	12.62	+ 1.62
WesternCCoal	WTN	16553961	8.49	+ 1.32
GrandeCacheC	GCE	12245268	9.52	+ 1.22
Major Drilling	MDI	381875	56.28	+ 1.07
Inmet Mining	IMN	2717392	66.30	-4.92
IShCOMEXGTr	IGT	23040	88.02	-2.17
Horizns G Bull	HGU	2311081	23.74	-1.36
Pan Am Silver	PAA	631535	32.85	-1.31
Teck Comin A	TCKA	125772	51.25	-1.26
Barrick Gold	ABX	14557310	40.40	-1.20
Centerra Gold	CG	558182	8.30	-1.20
Altius Mnrls	ALS	700170	13.08	-1.03
Central Gold-T	GTU_U	29101	34.44	-0.81
Detour Gold	DGC	523504	19.29	-0.73