U.S. Markets -Dec. 15-17

Investors continued to unwind some of their positions during the abbreviated Dec. 14-17 reporting period, sending the Dow Jones Industrial Average down 192.79 points or 1.84% to finish at 10,308.26, while the S&P 500 index fell 18.03 points or 1.62% to 1,096.08. The Nasdaq lost 32.05 points or 1.45% to 2,180.05.

Gold lost some of its appeal during the three-day reporting period and could continue to correct through the end of the year as investors take profits and the U.S. dollar shows more vigorous signs of life.

The spot price for gold fell US$29.30 per oz. or 2.6% to US$1,097.10 per oz. Companies like Agnico-Eagle Mines, Randgold Resources, and Newmont Mining are all feeling the chill.

Agnico lost US$6.32 per share to close at US$53.99, Randgold fell US$4.82 to US$77.79, and Newmont slid US$3.94 to US$47.63.

The Amex Gold Bugs index tumbled 28.86 points or 6.42% to 420.7, while the Philadelphia Gold and Silver index dropped 9.85 points or 5.65% to finish at 164.53.

Higher oil prices, supported in part by the prospect of greater winter demand, helped lift shares of major coal companies such as Alpha Natural Resources, Consol Energy, and Peabody Energy. Alpha Natural Resources, a leading Central Appalachian coal producer, jumped US$2.57 to US$43.38, topping the list of value gains, while Consol Energy, the largest underground coal producer in the U.S., advanced US$1.02 per share to US$46.07. Peabody edged up US96¢ to US$44.11 per share.

Even juniors in the coal sector performed well, like L&L International Holdings, a U.S. company operating coal businesses in China, which increased 11.2% to US$6.05 per share on the back of strong financial results for the quarter ended Oct. 31.

Revenues increased about 139% year-over-year to US$24.48 million and net income jumped 195% year-over-year to US$6.94 million.

Quaterra Resources posted the largest percentage gain with a 15.4% surge to US$1.57 per share on news that it would join forces with Goldcorp to explore central Mexico.

U.S. most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Alcoa* AA 70210 15.15 14.45 14.50 -0.32
Barrick Gold* ABX 49799 40.38 38.18 38.39 -1.51
Hecla Mining* HL 36269 6.84 6.21 6.21 -0.43
Freeport McMo*FCX 31429 80.29 75.76 75.96 -2.88
Goldcorp* GG 31166 40.44 37.42 37.51 -2.57
Silverado* SLGLF 27746 0.01 0.01 0.01 0.00
Newmont Mng* NEM 27512 51.98 47.50 47.63 -3.94
Silver Wheatn* SLW 23724 15.95 14.57 14.63 -0.99
Potash C Sask* POT 22536 119.80 111.26 111.84 -4.72
Kinross Gold* KGC 22248 19.24 17.89 17.93 -1.24
U.S. greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Quaterra Res* QMM 138 1.68 1.31 1.57 + 15.4
Elray Res* ELRA 142 0.26 0.20 0.25 + 13.6
L&L Intl Hldg* LLFH 982 6.45 5.31 6.05 + 11.2
DRDGOLD* DROOY 1384 6.85 5.43 6.11 + 11.0
US Energy* USEG 3212 5.78 5.17 5.48 + 8.7
Crystallex In* KRY 3398 0.42 0.34 0.39 + 8.3
Exeter Res* XRA 659 7.48 6.48 7.00 + 8.0
Legend Intl H* LGDI 1573 1.21 1.04 1.12 + 7.6
Constittn Mng* CMIN 2108 1.76 1.62 1.75 + 6.7
Alpha Nat Res* ANR 12604 43.59 40.31 43.38 + 6.3
Canarc Res* CRCUF 426 0.13 0.10 0.10 -28.5
Dejour Enterp* DEJ 245 0.42 0.28 0.28 -26.3
Samex Mng* SMXMF 510 0.38 0.30 0.31 -16.2
Radius Gold* RDUFF 38 0.18 0.16 0.16 -15.7
Linux Gold* LNXGF 372 0.07 0.06 0.06 -14.2
Pediment Gold* PEZGF 337 1.38 1.16 1.20 -13.0
Seabridge Gld* SA 1146 25.38 22.16 22.16 -12.2
Aurizon Mines* AZK 4970 4.93 4.29 4.32 -11.2
Geovic Mng* GVCM 237 0.64 0.57 0.57 -10.9
Agnico-Eagle* AEM 16991 61.30 53.76 53.99 -10.4
U.S. greatest value change
WEEK
VOLUME CLOSE CHANGE
Alpha Nat Res* ANR 12603670 43.38 + 2.57
CONSOL Energy* CNX 6841936 46.07 + 1.02
Peabody Enrgy* BTU 15415461 44.11 + 0.96
DRDGOLD* DROOY 1384345 6.11 + 0.61
L&L Intl Hldg* LLFH 981744 6.05 + 0.61
Exeter Res* XRA 658700 7.00 + 0.52
US Energy* USEG 3212432 5.48 + 0.44
Cabot Corp* CBT 1554061 25.98 + 0.39
Corriente Rs* ETQ 818923 6.85 + 0.27
Westmoreland* WLB 87942 8.26 + 0.24
Rio Tinto* RTP 2457140 202.60 -7.33
Agnico-Eagle* AEM 16991318 53.99 -6.32
Randgold Res* GOLD 4635929 77.79 -4.82
Potash C Sask* POT 22535894 111.84 -4.72
Newmont Mng* NEM 27511791 47.63 -3.94
Royal Gold* RGLD 1967418 47.00 -3.79
Seabridge Gld* SA 1146127 22.16 -3.09
Mosaic* MOS 17231356 56.03 -2.95
Freeport McMo* FCX 31429247 75.96 -2.88
BHP Billi-BHP* BHP 7994159 72.30 -2.85
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