TORONTO STOCK EXCHANGE -July 12-16

The TSX composite index fell slightly for the July 16-20 period, ending 20 points lower at 11,580. The fall came as global markets continue to digest debt concerns in Europe and weak employment numbers in the U.S.

While oil managed to hold value and stop the index from falling too drastically, the miners were unable to do their part as both gold and base metals prices were softer for the period.

With the situation in Europe improving, gold fell by roughly US$16 to finish up at US$1,189.25 per oz. Silver, however, did not follow suit, and gained US19¢ to finish at US$18.25.The Global Gold index was off 9 points to 355.58.

The Capped Metals & Mining index mirrored the Global Gold index’s performance as it was off 10 points to 886.09, despite the price of copper rising slightly to US$3.02 per lb. The price of aluminum saw a marginal gain unlike nickel, which was flat, and the prices for tin, lead and zinc all fell.

Getting its feasibility study done on its Oromin Joint Venture Group project in Senegal had Oromin Exploration up 19% to $1.06 per share. The study outlined a project with reserves of 1.42 million oz. gold and resources of 3.27 million oz. In the first three years of operation, the mine is expected to produce 196,000 oz. gold per year at cash costs of US$409 per oz. The project has a net present value of US$182 million and a 21.6% internal rate of return using a US$1,000 per oz. gold price and a low discount rate of 3%.

Investors applauded Ivanhoe Mines’ move to gain more freedom from Rio Tinto at its Oyu Tolgoi copper-gold project. Ivanhoe exercised its right to end restrictions on it issuing stock to other investors. In two months, Ivanhoe will be free to issue shares to third-party investors, which could include major mining companies. Ivanhoe shares climbed 18% to $17.12 apiece on the news. While Rio did not respond to Ivanhoe’s move, it may still hold a trump card through the arbitration proceedings it launched against Ivanhoe’s new shareholder rights plan.

Word that it was launching a drill program at its Sergipe potash project in Brazil had a positive effect on Talon Metals’ share price as the company climbed 20% to 36¢. Talon said it has identified seven potash target areas that will be tested at 12 different drill sites.

Polo Resources closed a $25-million deal and saw its shares climb as a result. Polo, which invests in undervalued resource companies, sold 3.9 million shares it held in Extract Resources.

Quarterly results from Lithium Americas failed to inspire investors as the company’s shares fell 15% to $1.19 after announcing it had lost $1.8 million. The company only did its initial public offering in May and still has $44 million in cash, along with its significant lithium brine deposit.

TSX most active issues
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Uranium One	UUU	55807	2.94	2.81	2.85	+ 0.08
Lundin Mng	LUN	17919	3.88	3.50	3.58	-0.20
Teck B	TCKB	17504	35.74	33.00	33.44	-2.16
New Gold	NGD	15862	5.49	5.05	5.13	-0.27
Eastern Platin	ELR	15785	1.01	0.92	0.94	-0.03
Equinox Minls	EQN	15536	4.54	4.07	4.15	-0.26
Western Coal	WTN	15112	4.32	3.92	3.96	-0.26
Yamana Gold	YRI	14633	10.31	10.01	10.06	-0.12
Barrick Gold	ABX	14524	46.14	43.77	44.00	-1.04
Eldorado Gold	ELD	13922	17.86	16.55	16.76	-1.01

TSX greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Polo Res	POL	143	0.11	0.06	0.11	+ 57.1
Bannerman Res	BAN	268	0.45	0.29	0.37	+ 42.3
Entree Gold	ETG	1100	2.50	1.88	2.30	+ 22.3
Talon Metals	TLO	46	0.36	0.30	0.36	+ 20.0
Oromin Expl	OLE	944	1.08	0.80	1.06	+ 19.1
Ivanhoe Mines	IVN	7460	17.95	14.60	17.12	+ 17.9
VG Gold	VG	2111	0.39	0.31	0.34	+ 17.2
Aeroquest Intl	AQL	83	0.53	0.46	0.50	+ 16.2
Orvana Mnrls	ORV	1019	1.44	1.14	1.37	+ 16.1
Petaquilla Mnl	PTQ	1091	0.39	0.32	0.37	+ 15.6
TriAusMin	TOR	40	0.05	0.05	0.05	-58.3
Starfield Res	SRU	1622	0.07	0.06	0.06	-25.0
Crescent Gold	CRA	92	0.15	0.12	0.12	-20.0
Alexis Minls	AMC	7853	0.20	0.16	0.17	-19.0
DynacorGoldM	DNG	109	0.32	0.27	0.27	-18.1
Gryphon Gold	GGN	158	0.11	0.09	0.09	-18.1
Lithium Americ	LAC	261	1.32	1.19	1.19	-15.0
Grandview Gld	GVX	207	0.06	0.06	0.06	-14.2
South Am Silvr	SAC	693	0.66	0.55	0.55	-14.0
Aura Mnls	ORA	2690	3.97	3.48	3.49	-12.0

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
PotashCpSask	POT	4872491	102.06	+ 5.81
Ivanhoe Mines	IVN	7459973	17.12	+ 2.60
Agrium	AGU	6347194	61.94	+ 1.78
Cameco Corp	CCO	6248683	25.32	+ 1.72
Centerra Gold	CG	3043552	13.48	+ 1.27
Detour Gold	D GC	1946050	23.63	+ 1.11
Europn Goldfld	EGU	1864463	7.17	+ 0.69
Osisko Mng	OSK	10511592	11.79	+ 0.65
Entree Gold	ETG	1099960	2.30	+ 0.42
North Am En Pa	NOA	42164	9.48	+ 0.37
First Quantum	FM	1972227	61.50	-2.32
Teck B	TCKB	17504391	33.44	-2.16
Newmont Mng	NMC	21348	62.09	-2.11
Allied Nevada	ANV	727318	18.13	-1.81
Seabridge Gold	SEA	114261	28.60	-1.52
Major Drilling	MDI	161350	22.25	-1.35
Labdr I-Ore Ro	LIF_U	259158	43.70	-1.34
Red Back Mng	RBI	5817196	24.95	-1.23
Inmet Mining	IMN	1373752	46.19	-1.06
Barrick Gold	ABX	14524408	44.00	-1.04