Toronto Stock Exchange – July 7-13

The downward slide persisted for the S&P/TSX composite index over the July 7-13 reporting period, thanks to slumping commodity prices. The index shed nearly 136 points, or about 1.4%, to close at 9,892.

The Capped Metals and Mining index dropped 1% or 7 points to 606; the Global Gold index lost 2.3%, or 7 points, closing at 299 points; but the new Global Base Metals index was up 1.2% to nearly 98 points.

Amidst the losses, Ivanhoe Mines was the top gainer over the period, up $1.16 to $9.77. Ivanhoe shares got a lift after the Mongolian parliament voted in favour of a draft profit-sharing agreement for the Oyu Tolgoi copper-gold project, clearing the way for its first official reading.

Potash Corp. of Saskatchewan was the top loser with shares plunging $12.55 to close at $98.05 apiece. Investors fled after the fertilizer giant warned that its earnings for the second quarter would be at least 45% lower at US70¢ per share than an earlier forecast range of US$1.10-1.50 per share. Potash miners have been cutting back on production to keep prices high, but consumers have responded by not buying. Recently Russian fertilizer firm OAO Silvinit agreed to sell potash to India at US$460 per tonne, down from US$625 per tonne last year, and analysts say other price contracts could drop significantly in the coming months.

Following Potash Corp. was Agrium, down $2.32 to $42.80 per share. The company has extended a US$4-billion bid for New Yorklisted CF Industries Holdings to July 22. CF has nitrogen, phosphate and crop nutrient distribution assets. Agrium made its original offer in February, but has been continually rejected by CF’s board.

Shore Gold shares increased nearly 28% over the period to 55¢ apiece. The company has made draft project guidelines for its Star-Orion South open-pit diamond project, near Prince Albert, Sask., available for public review and comment as it waits for approval under the Environmental Assessment Act.

Kirkland Lake Gold shares lost nearly 22%, falling to $7.50 per share after the company announced that an unexpected obstruction had blocked the paste-fill borehole above the 34th level of the Macassa gold mine, near Kirkland Lake, Ont. Mining has been suspended in certain areas until the problem can be fixed.

Teck shares were the most actively traded over the period with 43.2 million shares changing hands. The stock closed up 54¢ at $19.03, continuing its recovery from financial uncertainty. This time, Teck announced it will save about $70 million after a decision by a federal arbitrator allowed it to secure shipping deals with both Canadian Pacific Railway and Canadian National Railway to transport coal from its mines in southern British Columbia to ports around Vancouver. The outcome of the arbitration could set a precedent for lower rates across Canada.

TSX most active issues
	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Teck B TCKB	43229	19.69	17.27	19.03	-0.54
Mercator Mnls ML	29651	1.32	1.03	1.21	-0.11
WesternCCoalWTN	23941	1.82	1.44	1.78	+0.12
Lundin Mng LUN	23736	3.18	2.65	2.99	-0.10
Yamana Gold YRI	22232	10.46	9.60	10.16	+ 0.06
Uranium One UUU	22109	2.77	2.33	2.69	+ 0.11
Breakwater Res BWR	21759	0.25	0.19	0.20	-0.04
Equinox Minls EQN	19368	2.29	1.98	2.08	-0.16
HoriznsGBull HGU	17258	11.50	9.62	10.37	-0.65
GrandeCacheCGCE	16673	1.85	1.53	1.85	+0.16

TSX greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
San Anton Res	SNN	288	0.34	0.19	0.28	+ 33.3
North Atlc Res	NAC	859	0.09	0.06	0.09	+ 28.5
Shore Gold	SGF	1485	0.57	0.41	0.55	+ 27.9
Wallbridge Mng	WM	834	0.10	0.08	0.10	+ 25.0
Firstgold	FGD	333	0.05	0.04	0.05	+ 25.0
Diamond Fields	DFI	640	0.08	0.05	0.05	+ 25.0
Great Panther	GPR	1406	0.56	0.46	0.56	+ 21.7
Victory Nickel	NI	4978	0.06	0.05	0.06	+ 20.0
Entree Gold	ETG	1825	1.70	1.42	1.67	+ 17.6
Forsys Metals	FSY	491	5.15	4.42	5.07	+ 17.3
Avnel Gold	AVK	110	0.12	0.10	0.10	-44.4
BRC DiamondCr	BCD	845	0.06	0.02	0.04	-42.8
Carlisle Goldf	CGJ	86	0.03	0.02	0.03	-25.0
Gryphon Gold	GGN	706	0.16	0.10	0.12	-25.0
CIC Energy	ELC	368	2.38	1.49	1.59	-24.2
Powertech Uran	PWE	78	0.49	0.38	0.38	-24.0
Genco Res	GGC	216	0.31	0.25	0.25	-21.8
Kirkland Lk Gd	KGI	744	9.58	7.37	7.50	-21.8
Phoenix Coal	PHC	4011	0.33	0.22	0.25	-21.8
Uranerz Energy	URZ	63	2.23	1.57	1.73	-20.2

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Ivanhoe Mines	IVN	12142287	9.77	+ 1.16
Forsys Metals	FSY	490799	5.07	+ 0.75
Horizns G Bear	HGD	8369183	7.20	+ 0.40
Athabasca Pota	API	830601	4.01	+ 0.35
Pan Am Silver	PAA	614172	20.78	+ 0.34
Seabridge Gold	SEA	101402	31.21	+ 0.32
Cons Thomp Irn	CLM	4735967	3.43	+ 0.30
Entree Gold	ETG	1825306	1.67	+ 0.25
HudBay Minls	HBM	4708355	7.34	+ 0.25
Mag Silver	MAG	418696	5.42	+ 0.19
Potash Cp Sask	POT	6891804	98.05	-12.55
Agrium	AGU	5367246	42.80	-2.32
Inmet Mining	IMN	1610805	38.49	-2.11
Kirkland Lk Gd	KGI	743824	7.50	-2.10
Franco-Nevada	FNV	1703856	25.44	-2.02
Newmont Mng	NMC	38560	44.16	-1.59
Barrick Gold	ABX	15540960	36.87	-1.42
IShCOMEXGTr	IGT	17042	104.21	-1.26
Russell Metals	RUS	1889131	13.55	-1.10
Quadra Mng	QUA	5756049	7.57	-1.00