TORONTO STOCK EXCHANGE -May 4-10

It was a wild ride for the TSX composite index over the May 4-10 period.

The index fell sharply with global markets on May 6 owing to jitters over Greece’s debt situation and perhaps a mistaken sell order in New York. The events had the TSX composite down to a low of 11,422.73 on that day.

A massive financial package for Greece announced on May 10, however, had markets rebounding and the TSX regained more than half of what it had lost, finishing the period at 12,001.15 — down roughly 195 points from where it began the period.

Fears over European debt were, however, positive for gold. The yellow metal was seen as one of the few safe havens during the tumultuous period and its value rose by roughly US$10 to finish at US$1,196.50. It did, however, break through the US$1,200 mark on May 7. The Global Gold index tracked the metal’s price as it was up roughly 24 points to 375.71.

But European debt and its negative ramifications for the global economy took its toll on other resources. The prices of aluminum, nickel, tin, lead and zinc all took haircuts and the Capped Metals & Mining index fell 33 points to finish at 972.14.

Drill results from Sabina Gold & Silver’s Back River gold project in southwest Nunavut had the company’s shares up by more percentage points than any other miner for the period. Sabina was up 41% to $1.92 after releasing assays from holes drilled under Llama Lake that were highlighted by 53.6 metres grading 2.3 grams gold per tonne and 22.2 metres grading 7.61 grams gold.

A construction permit for a key railway line helped lift Labrador Iron Mines Holdings fortunes for the period. The company was up 16% after announcing it could start building a 4.5 km railway spur line from its Schefferville, Que., iron ore project to the existing Tshiuetin Rail line in Labrador.

Third quarter results highlighted by gold production of 36,621 oz., an average sale price of US$1,105 per oz. and cash operating costs of US$403 per oz. had Centamin Egypt’s shares up 11% to $2.37 for the period. The results are from the company’s Sukari gold mine in Egypt where the company also announced that the processing plant reached nameplate capacity of 4 million tonnes per year with metallurgical recovery averaging 90%. Reserves at the mine were also increased and now stand at 7.1 million oz. gold.

Investors appeared to be anticipating negative financial results from SouthGobi Energy. The company, which has its board stocked with key members of Ivanhoe Mine’s team, saw its share price fall by 17% to $11.40 for the period. SouthGobi has significant coal assets in Mongolia and said that it would release financial results from its first quarter on May 14.

TSX most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Eastern Platin ELR 50739 1.40 1.16 1.26 -0.17
Western C Coal WTN 49586 5.87 4.99 5.66 + 0.02
Lundin Mng LUN 46658 4.60 3.87 4.20 -0.46
Breakwater Res BWR 38694 0.40 0.31 0.35 -0.06
Yamana Gold YRI 34226 11.36 10.42 10.97 + 0.09
Barrick Gold ABX 31476 46.55 42.95 44.95 + 1.61
Teck B TCKB 31205 39.55 34.67 39.53 + 0.73
Eldorado Gold ELD 29716 17.02 15.30 16.56 + 0.87
New Gold NGD 29078 6.25 5.40 5.93 + 0.13
KinrossGold K 26839 19.20 17.57 17.85 -1.03
TSX greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Sabina Silver SBB 3250 1.93 1.35 1.92 + 41.1
Crescent Gold CRA 60 0.17 0.12 0.16 + 33.3
Crystallex Int KRY 1213 0.51 0.39 0.49 + 22.5
Malaga MLG 706 0.14 0.11 0.14 + 16.6
Inter-Citic Mn ICI 2939 1.76 1.34 1.75 + 16.6
Labdr Iron Mns LIM 1395 6.77 5.40 6.60 + 15.7
Nord Res NRD 33 0.30 0.24 0.30 + 15.3
Starfield Res SRU 1975 0.09 0.08 0.09 + 12.5
Diamond Fields DFI 93 0.09 0.09 0.09 + 12.5
Centamin Egypt CEE 17326 2.42 1.98 2.37 + 11.2
TriAusMin TOR 20 0.10 0.10 0.10 -23.0
INV Metals INV 513 0.93 0.72 0.77 -23.0
Mega Uranium MGA 4538 0.54 0.43 0.44 -20.0
Treasury Metal TML 600 0.70 0.50 0.54 -19.4
Zazu Metals ZAZ 482 0.22 0.16 0.17 -19.0
Goldstone Res GRC 3382 0.58 0.40 0.47 -18.9
Katanga Mng KAT 5720 1.26 0.98 1.02 -17.7
Niocan Inc NIO 45 0.47 0.40 0.43 -17.3
SouthGobi Engy SGQ 723 13.76 10.96 11.40 -17.2
Golden Peaks GL 360 0.71 0.57 0.58 -17.1
TSX greatest value change
WEEK
VOLUME CLOSE CHANGE
IShCOMEXGTr IGT 49791 120.91 + 3.86
Red Back Mng RBI 11729795 26.88 + 2.48
CentralGold-T GTU_U 26404 50.50 + 2.29
Barrick Gold ABX 31475619 44.95 + 1.61
Newmont Mng NMC 71419 56.82 + 1.48
Goldcorp G 23495138 44.60 + 1.44
Agnico-Ea
gle
AEM 6328615 64.76 + 1.41
Detour Gold DGC 3172628 21.91 + 1.33
Inmet Mining IMN 3031756 52.15 + 1.23
Ivanhoe Mines IVN 5975151 16.54 + 0.93
PotashCpSask POT 6579698 106.27 -3.74
Agrium AGU 5475651 60.45 -2.55
SouthGobi Engy SGQ 723333 11.40 -2.37
Russell Metals RUS 1548592 19.42 -1.61
HudBay Minls HBM 14809687 11.52 -1.27
Imperial Metal III 487623 19.22 -1.14
Quadra Mng QUA 9506450 13.83 -1.03
Kinross Gold K 26838550 17.85 -1.03
Major Drilling MDI 658682 24.82 -0.88
FNX Mining FNX 9254228 11.98 -0.87
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