In an up and down week, the TSX composite index managed to rebound to end the Oct. 25-29 trading period up at 12,676.24 on a modest gain of 75 points, or 0.6%.
Statistics Canada reported that gross domestic product in August increased by 0.3% following a 0.1% drop in July. The Canadian dollar closed at US98.02¢, up 0.64 of a cent on the week.
Bullion prices closed on a strong note, ahead US$32.50 at US$1,357.60 per oz. Reflecting higher gold prices, the TSX Global Gold index rose 14 points, or 3.6%, to finish at 404.04.
Barrick Gold was up $1.86 at $49.12 per share, Goldcorp tacked on $2.35 to close at $45.54 per share, Agnico-Eagle Mines jumped $6.93 to $79.10 apiece, while Eldorado Gold shares remained unchanged at $17.27. All reported positive third quarter results during the period.
While the spot price for copper was off 6¢ at US$3.71 per lb., the Capped Metals & Mining index went the other way, adding 11 points, or 0.9%, to finish at 1,235.28.
Shares of molybdenum companies advanced on news that China is preparing to classify the metal as a national mining resource, which could have limiting production implications. Thompson Creek Mines closed up $1.45 at $12.28 and Moly Mines added 10¢ to finish at 85¢.
Base metal producer Inmet Mining was up $1.97 at $60.98 after reporting third quarter results. Earnings were 32% higher over the same period a year ago, due to higher metal prices and the ramping up of operations at its 70%-owned Las Cruces open-pit copper mine in Spain.
Eastern Platinum (Eastplats) was among the most-active traders. It was up 25¢ at $1.86 per share on news that it arranged a US$100-million corporate debt financing with the UniCredit Bank of London and the Standard Bank of South Africa. Eastplats is South Africa’s sixth-largest platinum group metals producer.
Torex Gold Resources added 6¢ to finish at $1.37, after announcing a new underground gold resource for the El Limon deposit at the company’s Morelos gold project in Mexico’s Guerrero state. With 1.6 million oz. contained in an indicated resource of 7.4 million tonnes grading 6.8 grams, Torex is expanding the prefeasibility study to assess the project’s underground mining potential.
Montreal-based Dynacor Gold Mines closed at $1.47, for a 67% gain on the week. The junior says it is on target to sell 30,000 oz. gold in 2010 from a custom milling operation in Peru.
The operation buys gold ore sourced from small-and medium-size third parties. As part of its business model, cash flow generated by the milling operation is used to fund exploration on its Tumipampa copper-gold project, also in Peru.
TSX most active issues | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Eastern Platin | ELR | 54180 | 1.90 | 1.57 | 1.86 | + 0.25 |
Lundin Mng | LUN | 38791 | 7.04 | 6.17 | 6.46 | -0.29 |
Uranium One | UUU | 20262 | 4.20 | 3.82 | 4.17 | + 0.34 |
B2Gold | BTO | 20206 | 2.28 | 2.07 | 2.28 | + 0.13 |
KinrossGold | K | 20094 | 18.42 | 17.42 | 18.35 | +0.29 |
Torex Gold | TXG | 19635 | 1.68 | 1.31 | 1.37 | -0.06 |
Potash One | KCL | 19098 | 4.08 | 3.32 | 3.66 | + 0.27 |
Yamana Gold | YRI | 17021 | 11.22 | 10.76 | 11.22 | + 0.21 |
Eldorado Gold | ELD | 16615 | 17.73 | 16.94 | 17.27 | -0.00 |
Barrick Gold | ABX | 15064 | 49.18 | 46.47 | 49.12 | + 1.86 |
TSX greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
DynacorGoldM | DNG | 1555 | 1.56 | 0.89 | 1.47 | + 67.0 |
Diamond Fields | DFI | 1564 | 0.26 | 0.19 | 0.26 | + 62.5 |
Ratel Gold | RTL | 9615 | 1.34 | 0.69 | 1.12 | + 55.5 |
Malaga | MLG | 1234 | 0.29 | 0.20 | 0.28 | + 40.0 |
Nuinsco Res | NWI | 6226 | 0.15 | 0.12 | 0.14 | + 40.0 |
Orezone Gold | ORE | 6706 | 3.56 | 2.39 | 3.17 | + 31.5 |
Petaquilla Mnl | PTQ | 4963 | 0.85 | 0.62 | 0.83 | + 29.6 |
Golden Peaks | GL | 353 | 0.77 | 0.52 | 0.77 | + 28.3 |
Contl Precious | CZQ | 987 | 0.82 | 0.61 | 0.77 | + 28.3 |
Gryphon Gold | GGN | 1962 | 0.28 | 0.17 | 0.28 | + 27.2 |
Starfield Res | SRU | 6756 | 0.08 | 0.05 | 0.05 | -16.6 |
United Mng Grp | UMG | 887 | 1.05 | 0.86 | 0.88 | -15.3 |
Talison Lithm | TLH | 570 | 5.45 | 4.80 | 4.81 | -10.4 |
Baja Mng | BAJ | 7249 | 1.33 | 1.11 | 1.16 | -10.0 |
Niocan Inc | NIO | 14 | 0.40 | 0.36 | 0.36 | -10.0 |
Grandview Gld | GVX | 90 | 0.09 | 0.08 | 0.09 | -10.0 |
SouthGobi Res | SGQ | 275 | 12.30 | 10.50 | 10.94 | -9.3 |
Formation Mtls | FCO | 149 | 1.59 | 1.43 | 1.45 | -9.3 |
Ursa Major Min | UMJ | 378 | 0.10 | 0.09 | 0.10 | -9.0 |
Inspiration Mg | ISM | 345 | 0.24 | 0.21 | 0.22 | -8.3 |
TSX greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
Agnico-Eagle | AEM | 3812259 | 79.10 | + 6.93 |
First Quantum | FM | 2449509 | 89.31 | + 5.86 |
Labdr I-Ore Ro | LIF_U | 307386 | 61.20 | + 3.77 |
Centerra Gold | CG | 1698254 | 20.35 | + 2.73 |
PotashCpSask | POT | 3859780 | 147.50 | + 2.42 |
Goldcorp | G | 13926340 | 45.54 | + 2.35 |
Si lver Wheaton |
SLW | 6003986 | 29.32 | + 2.35 |
Royal Gold | RGL | 15306 | 50.90 | + 1.91 |
Detour Gold | DGC | 1422789 | 29.79 | + 1.89 |
Barrick Gold | ABX | 15064341 | 49.12 | + 1.86 |
Inmet Mining | IMN | 1389493 | 60.98 | -1.97 |
SouthGobi Res | SGQ | 274575 | 10.94 | -1.13 |
Russell Metals | RUS | 894222 | 20.08 | -1.09 |
HoriznsGBear | HGD | 6273089 | 10.13 | -0.82 |
North Am En Pa | NOA | 33548 | 8.85 | -0.58 |
Talison Lithm | TLH | 569539 | 4.81 | -0.56 |
Grande Cache C | GCE | 6310969 | 7.00 | -0.45 |
Cons Thomp Irn | CLM | 7828401 | 9.88 | -0.34 |
Lundin Mng | LUN | 38791466 | 6.46 | -0.29 |
Europn Goldfld | EGU | 3298576 | 13.78 | -0.24 |
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