U. S. markets reeled after word came out of Dubai that some of its state-run conglomerates had to delay massive debt repayments. And while markets bounced back after a mid-period selloff that followed the U. S. Thanksgiving holiday on Nov. 26, the major U. S. indexes still finished the Nov. 24-30 reporting period down.
The Dow Jones Industrial Average was off 150 points to 10,344, the S&P 500 index dropped 10 points to 1,095.63, the Nasdaq ended the week 32 points lower at 2,144.6, and the small-cap Russell 2000 index saw a 15-point decline to 579.73.
And while the bad news from Dubai initially prompted a drop in the price of gold as investors fled to the greenback, the yellow metal regained its lustre by the end of the reporting period. Gold was trading at US$1,196.80 per oz. at presstime. Such strength was transmitted into the Dow Jones UBS Precious Metals index, which gained a point to finish at 174.47. The Amex Gold Bugs index, however, failed to reflect the metal’s power as it was down 7 points to 474.68.
The Dubai-driven market slump hit big-name base metal producers the hardest, with Rio Tinto down US$10.22 to US$204.10; Freeport-McMoRan Copper & Gold falling US$4.26 to US$82.80; and BHP Billiton coming off US$2.97 to US$75.30.
Kimber Resources, however, climbed 19% higher over the reporting period to finish at US$1.55. The company began its ascent after announcing a mineral estimate and improved metallurgical recoveries at its Carmen gold-silver deposit on Nov. 18. The company’s shares were up another 8% at presstime after upgrading its gold and silver resource at the Veta Minitas deposit, which sits just 250 metres southwest of Carmen. Both Carmen and Veta Minitas are part of Kimber’s Monterde project in northwestern Mexico.
Interest in Crystallex Internationalstory picked up again in the period, though for no apparent reason. The company saw its shares suddenly jump 75% to close at 45¢ on Nov. 16, only to see them come back down to 28¢ on Nov. 30th. On Dec. 1, however, the stock was rolling again, climbing 37% to 38¢.
U. S. most active issues | |||||
VOLUME | WEEK | ||||
(000s) | HIGH | LOW | CLOSE | CHANGE | |
Alcoa* AA | 71228 | 13.06 | 12.46 | 12.52 | -0.62 |
Hecla Mining* HL | 41635 | 6.62 | 6.00 | 6.61 | -0.01 |
Freeport McMo*FCX | 34246 | 85.89 | 82.14 | 82.80 | -4.26 |
Barrick Gold* ABX | 30589 | 44.25 | 41.70 | 42.69 | -1.96 |
Goldcorp* GG | 24270 | 44.56 | 41.20 | 42.00 | -3.34 |
Silver Wheatn* SLW | 21458 | 16.35 | 15.30 | 16.07 | -0.87 |
Kinross Gold* KGC | 20350 | 20.18 | 18.69 | 20.02 | -0.38 |
Newmont Mng* NEM | 19997 | 54.15 | 52.18 | 53.64 | -1.25 |
Gold Fields* GFI | 17216 | 14.86 | 14.26 | 14.78 | -0.39 |
Silverado* SLGLF | 14951 | 0.01 | 0.01 | 0.01 | 0.00 |
U. S. greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Pediment Gold* | PEZGF | 308 | 1.60 | 1.08 | 1.56 | + 26.8 |
Yellowcake Mg* | YCKM | 39 | 0.05 | 0.03 | 0.05 | + 25.0 |
Kimber Res* | KBX | 1610 | 1.80 | 1.00 | 1.55 | + 19.2 |
Cornerstone C* | CTNXF | 53 | 0.16 | 0.13 | 0.15 | + 15.3 |
Constittn Mng* | CMIN | 1541 | 1.52 | 1.13 | 1.52 | + 14.2 |
Nevsun Res* | NSU | 2614 | 3.20 | 2.73 | 3.19 | + 11.5 |
Metalline Mng* | MMG | 109 | 0.78 | 0.66 | 0.76 | + 8.5 |
Intl Tower Hi* | THM | 91 | 7.50 | 6.02 | 7.26 | + 8.3 |
Petaquilla Mn* | PTQMF | 1237 | 0.56 | 0.41 | 0.54 | + 8.0 |
Bullion Monar* | BULM | 123 | 0.81 | 0.70 | 0.80 | + 6.6 |
NWT Uranium* | NWURF | 41 | 0.13 | 0.09 | 0.09 | -35.7 |
Crystallex In* | KRY | 4834 | 0.40 | 0.27 | 0.28 | -31.7 |
Brookmount Ex* | BMXI | 101 | 0.10 | 0.02 | 0.08 | -20.0 |
Silver Dragon* | SDRG | 776 | 0.47 | 0.40 | 0.44 | -15.3 |
Alberta Star * | ASXSF | 394 | 0.18 | 0.16 | 0.17 | -15.0 |
Uranerz Energ* | URZ | 838 | 1.70 | 1.38 | 1.38 | -14.8 |
Global Gold* | GBGD | 313 | 0.22 | 0.17 | 0.18 | -14.2 |
Patriot Gold* | PGOL | 19 | 0.24 | 0.20 | 0.21 | -12.5 |
America West* | AWSR | 444 | 0.09 | 0.07 | 0.07 | -12.5 |
Alumina Inc* | AWC | 744 | 6.10 | 5.51 | 5.60 | -12.3 |
U. S. greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
Intl Tower Hi* | THM | 91100 | 7.26 | + 0.56 |
Pediment Gold* | PEZGF | 307748 | 1.56 | + 0.33 |
Nevsun Res* | NSU | 2613690 | 3.19 | + 0.33 |
Natural Rs Pt* | NRP | 107100 | 23.81 | + 0.31 |
Kimber Res* | KBX | 1609508 | 1.55 | + 0.25 |
MDU Res* | MDU | 1746533 | 22.60 | + 0.20 |
Intl Royalty* | ROY | 555174 | 4.20 | + 0.20 |
Constittn Mng* | CMIN | 1540987 | 1.52 | + 0.19 |
Golden Star* | GSS | 12823445 | 3.86 | + 0.18 |
L&L Intl Hldg* | LLFH | 220066 | 4.78 | + 0.15 |
Rio Tinto* | RTP | 3016663 | 204.10 | -10. 22 |
Freeport McMo* | FCX | 34246104 | 82.80 | -4.26 |
Potash C Sask* | POT | 14400374 | 112.42 | -3.43 |
Goldcorp* | GG | 24269935 | 42.00 | -3.34 |
BHP Billi-BHP* | BHP | 10869716 | 75.30 | -2.97 |
AngloGold Ash* | AU | 7176945 | 44.04 | -2.83 |
Agrium* | AGU | 1613900 | 55.86 | -2.70 |
Mosaic* | MOS | 11017951 | 54.45 | -2.41 |
Alpha Nat Res* | ANR | 9276212 | 37.00 | -2.40 |
Seabridge Gld* | SA | 652213 | 25.21 | -2.40 |
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