U.S. MARKETS -July 12-16

The U.S. Congress may have passed a landmark reform bill to overhaul the country’s financial regulatory system during the July 12-16 trading week, but President Barack Obama still faces a minefield of problems in his battle to get the economy back on track including a relentless unemployment rate of 9.5% and souring consumer sentiment.

U.S. equities remained fragile with the Dow Jones industrial average losing 100.13 points or 0.98% to close at 10,097.90, and the S&P 500 index falling 13.08 points or 1.2% to finish at 1,064.88.

Potash Corp. of Saskatchewan, Ivanhoe Mines and Cameco Corp. posted the top three value gains. Potash Corp. jumped US$3.69 to US$96.59 per share on no news but ahead of second-quarter earnings results due out July 29.

Ivanhoe Mines advanced US$2.34 to US$16.34 per share following news that it was starting to flex its muscles with majority shareholder Rio Tinto. On July 13, Ivanhoe said it would terminate restrictions on potential new investors that had been part of a five-year investment agreement it had signed with Rio Tinto, which allows the latter to acquire up to, but no more than, 46.25% of Ivanhoe. The agreement also bars Ivanhoe from issuing more than 5% of its shares to anyone else. Ivanhoe also declared on July 12 that it planned to continue to support a shareholder rights plan unveiled in April.

Cameco gained US$1.15 to US$23.99 per share. In late June, the Canadian uranium producer announced it had signed its first long-term supply agreement with a major Chinese nuclear utility. Under the deal, China National Energy Industry Corp., a subsidiary of China National Nuclear Corp. will receive 23 million lbs. of uranium concentrate under a long-term agreement through 2020.

Entre Gold was up US31¢ to US$2.15 -still basking in news it received a mining licence for its Nomkhon Bohr coal discovery in Mongolia’s Gobi Desert.

On the gold front, the Philadelphia Gold and Silver index was down 4.4% to 167.39 points. Junior explorer Elray Resources was one of the few gold companies to end the week in positive territory, recording a 75% jump to US7¢ per share, on no news.

U.S. most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Alcoa* AA 171856 11.34 10.41 10.41 -0.53
Freeport McMo* FCX 63819 65.44 59.91 60.08 -5.60
Mosaic* MOS 46024 46.23 41.26 44.76 -1.37
Barrick Gold* ABX 44288 44.78 41.56 41.75 -1.82
Newmont Mng* NEM 33715 62.99 58.76 58.90 -3.03
Cliffs Nat Rs* CLF 29309 50.62 46.35 46.55 -4.52
Vale* VALE 28352 25.84 24.31 24.34 -1.97
Hecla Mining* HL 24217 5.10 4.52 4.70 -0.37
Potash C Sask* POT 24092 98.99 90.88 96.59 + 3.69
Ivanhoe Mines* IVN 23494 17.38 14.22 16.34 + 2.34
U.S. greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Elray Res* ELRA 199 0.07 0.04 0.07 + 75.0
Amazon Goldsd* AZNG 11 0.35 0.25 0.35 + 40.0
Shoshone Silv* SHSH 32 0.14 0.10 0.13 + 30.0
Radius Gold* RDUFF 30 0.29 0.27 0.29 + 20.8
Lake Vict Mng* LVCA 284 0.32 0.22 0.29 + 20.8
Grandview Gld* GVGDF 24 0.06 0.05 0.06 + 20.0
Petaquilla Mn* PTQMF 1124 0.38 0.31 0.37 + 19.3
Oromin Expl* OLEPF 508 1.00 0.79 1.00 + 17.6
Entree Gold* EGI 1712 2.39 1.77 2.15 + 16.8
Ivanhoe Mines* IVN 23494 17.38 14.22 16.34 + 16.7
Commerce Grp* CGCO 68 0.05 0.04 0.04 -42.8
Affinity Gold* AFYG 273 0.05 0.04 0.04 -20.0
Golden Phoen* GPXM 466 0.05 0.04 0.04 -20.0
Tombstone Exp* TMBXF 375 0.09 0.07 0.08 -20.0
Tara Gold* TRGD 316 0.53 0.40 0.40 -16.6
Starfield Res* SRFDF 269 0.07 0.05 0.06 -14.2
Thompson Crk* TC 3456 9.85 8.71 8.75 -11.6
Madison Minls* MMRSF 48 0.09 0.07 0.08 -11.1
Arch Coal* ACI 22486 22.05 19.57 19.65 -10.9
Northern Dyn* NAK 686 7.16 6.31 6.37 -10.5
U.S. greatest value change
WEEK
VOLUME CLOSE CHANGE
Potash C Sask* POT 24091965 96.59 + 3.69
Ivanhoe Mines* IVN 23493765 16.34 + 2.34
Cameco Corp* CCJ 12626618 23.99 + 1.15
Alliance Rs P* ARLP 296813 48.07 + 0.69
Agrium* AGU 3684700 58.64 + 0.47
Mesabi Trust* MSB 329226 18.81 + 0.41
Intrepid Pots* IPI 1043100 22.48 + 0.38
Entree Gold* EGI 1712464 2.15 + 0.31
Mountain Prov* MDM 88187 2.89 + 0.25
Stillwater Mg* SWC 9418584 12.68 + 0.20
Freeport McMo* FCX 63818823 60.08 -5.60
Cliffs Nat Rs* CLF 29309466 46.55 -4.52
Alpha Nat
Res*
ANR 15428228 33.99 -3.76
Newmont Mng* NEM 33714922 58.90 -3.03
Teck B* TCK 22970772 31.64 -2.72
Rio Tinto* RTP 12308171 45.76 -2.53
Arch Coal* ACI 22486191 19.65 -2.41
BHP Billi-BHP* BHP 18180733 65.53 -2.31
Randgold Res* GOLD 3926807 91.15 -2.15
Massey Energy* MEE 14282386 28.15 -2.10
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