TORONTO STOCK EXCHANGE JULY 2-7

It was nothing short of a bloodbath. The S&PTSX Composite Index crashed 754.23 points, or 5.3%, to 13,712.8 during the July 1-7 trading session, while the Capped Metals and Mining Index fell 94.28 points, or 10.9%, to 764.34. Markets were closed on July 1 to celebrate Canada Day.

Even stock market darlings like Potash Corp. of Saskatchewan, Agrium and Fording Canadian Coal Trust took major hits. Potash Corp. of Saskatchewan lost $25.32 to close at $211.25, Agrium dropped $10.73 to $99.22 and Fording Canadian Coal plummeted $19.33 to $78.17.

In the precious metals space, recent reports of wide gold intersects in northern Ontario at its Detour Lake gold property weren’t enough to prevent Detour Gold from sliding $4.68 to close at $19.90. Agnico-Eagle Mines also lost ground — despite recent opening ceremonies at its Goldex mine in the Abitibi region of northwestern Quebec. Agnico fell $4.28 to $72.21. Goldex, the company’s second producing mine, has about 23.1 million tonnes of proven and probable reserves grading 2.2 grams gold per tonne for a total of more than 1.6 million oz. gold.

Meanwhile, Barrick Gold fell $1.55 to $45.06, Goldcorp lost $2.04 to close at $44.97 and Kinross Gold was down $1.51 to $22.59. Yamana Gold fell $1.53 to $15.43.

News on July 4 that FNX Mininghad signed a landmark “mutual benefits agreement” with the Wahnapitae First Nation on how to collaborate during the life of the company’s Podolsky mine was not enough to buoy the company’s stock price. FNX was down $3.30 during the trading session to $20.80. The agreement paves the way for members of the community to participate with FNX in employment, business, education and training opportunities as well as environmental management, FNX said in a press release.

On other fronts, Uranerz Energy was down 54.5% or $3.52 to $2.95 on no news, while Uranium One was down 48 to $4.32 — despite signing a credit agreement on July 2 with the Bank of Montreal and the Bank of Nova Scotia to borrow up to US$100 million. The senior secured revolving credit facility is for a two-year term and can be extended for a further year. The money can be used for working capital requirements, capital spending and acquisitions.

One of the few bright spots was Petaquilla Copper, which was up 89, or 84.7%, to $1.94 on news of a takeover announced. On July 6, Inmet Mining announced a $345-million bid for its joint-venture partner. Petaquilla Copper holds a 52% stake in Minera Petaquilla, which is developing the large Petaquilla copper project in Panama; Inmet owns the remaining 48% interest. Teck Cominco is also involved with the project, although its position has been disputed by Petaquilla. The all-cash offer of $2 per share is a 108% premium to Petaquilla Copper’s closing price on July 4.

TSX most active issues
	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Yamana Gold YRI	21785	16.87	15.24	15.43	-1.53
Uranium One UUU	20308	5.04	4.11	4.32	-0.48
Eastern Platin ELR	17607	2.73	2.37	2.50	-0.30
Petaquilla Cop PTC	16635	1.96	0.95	1.94	+ 0.89
Kinross Gold K	14519	24.57	22.31	22.59	-1.51
GrandeCacheCGCE	12170	8.85	6.02	6.73	-1.84
Goldcorp G	11681	48.85	44.17	44.97	-2.04
Equinox Minls EQN	11363	4.59	3.90	4.19	-0.25
Eldorado Gold ELD	11104	9.01	7.92	7.95	-0.74
Barrick Gold ABX	10597	47.01	44.47	45.06	-1.55

TSX greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Petaquilla Cop	PTC	16635	1.96	0.95	1.94	+ 84.7
Crescent Gold	CRA	300	0.22	0.18	0.22	+ 37.5
Pure Diam Expl	PUG	6809	0.12	0.06	0.09	+ 28.5
Yukon Gold	YK	117	0.17	0.10	0.15	+ 25.0
Peregrine Diam	PGD	304	0.26	0.21	0.25	+ 19.0
Armistice Res	AZ	18	0.50	0.44	0.49	+ 16.6
Sulliden Expl	SUE	1618	1.18	0.95	1.12	+ 16.6
Canarc Res	CCM	121	0.30	0.24	0.29	+ 16.0
Velocity Minls	VLC	65	0.76	0.62	0.75	+ 15.3
Vista Gold	VGZ	40	4.72	4.01	4.31	+ 14.6
Uranerz Energy	URZ	17	3.14	0.01	2.95	-54.4
Pac Rim Mining	PMU	1789	0.82	0.48	0.51	-38.5
New Dawn Mng	ND	21	1.20	0.90	0.90	-30.7
Franc-Or Res	FOR	340	0.24	0.17	0.17	-26.0
Cline Mng	CMK	5076	2.39	1.71	1.76	-25.1
Sprott Res	SCP	2778	4.54	3.19	3.48	-23.5
Zazu Metals	ZAZ	63	0.59	0.50	0.50	-23.0
Lydian Intl	LYD	132	0.56	0.47	0.47	-21.6
GrandeCacheC	GCE	12170	8.85	6.02	6.73	-21.4
Niocan Inc	NIO	69	0.63	0.55	0.55	-21.4

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Royal Gold	RGL	57230	33.03	+ 1.10
Petaquilla Cop	PTC	16634850	1.94	+ 0.89
Horizns G Bear	HGD	2232323	9.03	+ 0.85
Tanz Roy Exp	TNX	550260	5.00	+ 0.59
Minefinders	MFL	554804	11.05	+ 0.55
Vista Gold	VGZ	40275	4.31	+ 0.55
MMXMineMet	XMM	45349	33.00	+ 0.50
Metallica Res	MR	833549	7.35	+ 0.41
Platmin	PPN	195620	7.48	+ 0.38
Jaguar Mng	JAG	835483	10.22	+ 0.37
Potash Cp Sask	POT	6144976	211.25	-25.32
Fording C C T	FDG_U	5011924	78.17	-19.33
Agrium	AGU	5914453	99.22	-10.73
Teck Comin B	TCKB	9513100	43.38	-5.79
Teck Comin A	TCKA	10953	45.60	-5.40
Major Drilling	MDI	408944	45.24	-4.76
Detour Gold	DGC	1252990	19.90	-4.68
Agnico-Eagle	AEM	2823674	72.21	-4.28
Uranerz Energy	URZ	17326	2.95	-3.52
FNX Mining	FNX	2572610	20.80	-3.30