U.S. MARKETS -August 23-27

The U.S. Commerce Department revised its second-quarter gross domestic product growth figure from 2.4% to 1.6% just hours before U.S. Federal Reserve Chairman Ben Bernanke said that the economic recovery had softened more than expected. In a speech on Aug. 27, Bernanke said the Fed would take additional steps if necessary to help theeconomy. The prospect of further quantitative easing seemed to reassure U.S. equity investors. For the week of Aug. 23-27, the Dow Jones industrial average slipped 62.97 points or 0.62% to finish at 10,150.65, while the S&P 500 index lost 7.1 points or 0.67% to close at 1,064.59.

Persistent economic uncertainty is continuing to support gold’s safe-haven appeal. The New York spot price for gold rose 0.82% to US$1,238.10 per oz. on Aug. 27, keeping gold in positive territory for the fourth week in a row. The Philadelphia Gold and Silver index advanced 6.01 points or 3.37% to 184.14.

Buenaventura, Peru’s largest publicly traded precious metals company, topped the list of value gains with an advance of US$2.54 to US$40.47 per share, despite a fall in second-quarter net income to US$110.9 million, down 17% from US$134.4 million in the same quarter of 2009. Goldcorp claimed the No. 2 spot, gaining US$2.45 to US$44.34, while Seabridge Gold rose US$1.99 to US$30.35. Seabridge announced in mid-August that new metallurgical test-work has confirmed that a higher-grade copper concentrate can be produced at its 100%-owned KSM project, near Stewart, B.C. Altogether the improvements are estimated to cut the prefeasibility base case average annual operating costs by US$12.8 million (about US$20 per oz. gold produced) or about US$465 million over the nearly 37-year projected mine life. Newmont Mining, meanwhile, climbed US$1.93 to US$59.95, Agnico-Eagle Mines added US$1.92 to US$65.10, and Barrick Gold edged up US$1.84 to US$46.50.

Energy stocks, by contrast, generally headed south. Alpha Natural Resources lost US$4.50 per share to close the week at US$36.19, while Massey Energy fell US$3.11 to US$28.95. Peabody Energy slid US$1.74 to US$43.18 and Arch Coal lost US$1.48 to close at US$22.63.

U.S. most active issues
	VOLUME	WEEK
	(000s) HIGH	LOW	CLOSE	CHANGE
Alcoa* AA	104375 10.69	9.92	10.32	-0.25
Freeport McMo* FCX	58793 72.15	65.71	71.20	-0.17
Potash C Sask* POT	52438 153.29	144.50	147.73	-1.94
Mosaic* MOS	37204 59.88	54.41	58.27	+ 1.63
Barrick Gold* ABX	36570 46.54	42.80	46.50	+ 1.84
Hecla Mining* HL	33888 5.49	4.75	5.49	+ 0.54
Kinross Gold* KGC	32822 16.47	14.84	16.47	+ 1.04
Newmont Mng* NEM	30020 60.00	55.81	59.95	+ 1.93
Silverado* SLGLF	27201 0.00	1.0E8	0.00	0.00
Goldcorp* GG	27019 44.46	40.08	44.34	+ 2.45

U.S. greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Apolo Gold*	APLL	57	0.02	0.01	0.02	+ 100.0
America West*	AWSR	55	0.10	0.07	0.10	+ 42.8
Radius Gold*	RDUFF	429	0.56	0.39	0.54	+ 38.4
Oromin Expl*	OLEPF	612	1.17	0.83	1.17	+ 37.6
Grandview Gld*	GVGDF	10	0.07	0.05	0.05	+ 25.0
Samex Mng*	SMXMF	335	0.29	0.22	0.29	+ 20.8
Alexco Res*	AXU	2046	4.26	3.34	4.13	+ 20.4
Augusta Res*	AZC	248	2.45	1.99	2.41	+ 18.7
SinoCoking Cl*	SCOK	2305	16.00	13.00	14.62	+ 18.5
Crosshair E&M*	CXZ	365	0.15	0.12	0.14	+ 16.6
Commerce Grp*	CGCO	39	0.05	0.02	0.02	-33.3
National Coal*	NCOC	109	0.85	0.60	0.64	-25.5
El Capitan Pr*	ECPN	929	0.56	0.37	0.45	-19.6
Cream Mnrls*	CRMXF	165	0.06	0.05	0.05	-16.6
Linux Gold*	LNXGF	138	0.05	0.04	0.05	-16.6
Dejour Enterp*	DEJ	110	0.38	0.30	0.31	-13.8
Tri-Valley*	TIV	346	0.74	0.58	0.64	-11.1
Alpha Nat Res*	ANR	13267	41.21	34.53	36.19	-11.0
Bullion Monar*	BULM	248	0.65	0.57	0.58	-10.7
Strata O&G*	SOIGF	406	0.22	0.15	0.17	-10.5

U.S. greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Buenaventura*	BVN	5379292	40.47	+ 2.54
Goldcorp*	GG	27018505	44.34	+ 2.45
SinoCoking Cl*	SCOK	2304680	14.62	+ 2.29
Seabridge Gld*	SA	1488469	30.35	+ 1.99
Newmont Mng*	NEM	30019759	59.95	+ 1.93
Agnico-Eagle*	AEM	11103980	65.10	+ 1.92
Barrick Gold*	ABX	36569906	46.50	+ 1.84
Randgold Res*	GOLD	2650374	92.45	+ 1.82
Silver Wheatn*	SLW	26685046	22.80	+ 1.77
AllianceRsP*	ARLP	574954	55.22	+ 1.72
Alpha Nat Res*	ANR	13266717	36.19	-4.50
Massey Energy*	MEE	19629048	28.95	-3.11
Potash C Sask*	POT	52437905	147.73	-1.94
Peabody En rgy*	BTU	23199797	43.18	-1.74
Arch Coal*	ACI	21953037	22.63	-1.48
Consol Energy*	CNX	19440350	32.78	-1.33
AngloGold Ash*	AU	9718610	42.68	-1.17
AlumCpChina*	ACH	653100	19.99	-1.12
Cliffs Nat Rs*	CLF	21262074	60.22	-1.06
Vale*	VALE	24167400	27.16	-1.00