Toronto Stock Exchange

The S&P/TSX Composite Index gained in four straight sessions during the trading week before dipping on July 20 to end at 11,622.91 points, up 108.38 from where it began. The S&P/TSX Capped Diversified Metals & Mining Index also eked out a 9.19-point gain to close at 835.60 points.

Over the week, the spot price of gold advanced US$5.40 per oz. to US$1,584. But this didn’t lift the gold miners, and the S&P/TSX Global Gold Index slipped 6.26 points to 282.75.

Meadow Bay Gold was the week’s biggest percentage gainer, up 40% to close at 58¢. The boost came after the company reported a small resource estimate for its Atlanta gold project in Nevada’s Lincoln County.Using a cut-off of 0.5 gram gold, the estimate calculated that the project’s Main and East-West zones contain a combined 1.46 million tonnes grading 1.56 grams gold per tonne and 4.52 grams silver per tonne for 77,074 equivalent oz. gold in indicated, plus another 753,674 tonnes grading 1.34 grams gold and 7.84 grams silver for 36,065 equivalent oz. gold in inferred. The company says the estimate excludes most of the results from its 2011 drill program, and is working on updating the resource.

TriAusMin is still basking in the glow of the drill results released on July 12. Shares rose 33% to 10¢ after reporting that the drill program at its Woodlawn polymetallic property near Sydney, Australia,  demonstrates that the previously mined lenses extend below the past-producing underground mine. It also located a new mineralized lens closer to surface. Highlights include: 15 metres grading 3.66% copper, 3.71% lead, 11.72% zinc, 121 grams silver and 1.92 grams gold per tonne, and 10 metres of 1.64% copper, 1.22% lead, 6.09% zinc, 14 grams silver and 0.72 gram gold. TriAusMin says the next step is to delineate a resource to support a prefeasibility study.

Baja Mining was the week’s biggest loser, dropping 36% to 9¢ a share after it said on July 13 that it did not receive funding proposals to help cover the cost overruns at its Boleo copper-cobalt-zinc project in Mexico. Most analysts say it’s unlikely that Baja will announce a financing before Aug. 1, the deadline set by its lenders to raise more funds so it can continue accessing its project loans.

Following reports that the drought in the U.S. could increase corn prices, fertilizer producers Agrium and Potash Corp. of Saskatchewan became the week’s biggest value gainers, advancing $5.46 to $96.72 per share, and $1.52 to $46.01 per share, respectively. During the week, Agrium also upped its second-quarter earnings guidance for the second time since May. The major expects earnings per share of $5.40–$5.50 for the quarter, which is up from its original $4.18–$4.78 range in May. BMO Research reckons that the increase will come from better retail sales.

TSX most active issues

Volume Week
  (000s) High Low Close Change
Kinross Gold K 19697 8.59 7.94 8.16 -0.35
High River Gol HRG 17549 1.44 1.18 1.43 +0.22
Potash Cp Sask POT 12066 46.70 43.85 46.01 +1.52
AuRico Gold AUQ 11778 7.87 6.18 6.42 -1.42
Barrick Gold ABX 11662 35.67 34.41 34.95 -0.38
Yamana Gold YRI 11352 15.40 14.21 14.55 -0.52
Lundin Mng LUN 11194 4.27 3.92 4.15 +0.04
First Quantum FM 11174 18.43 16.46 17.95 +0.42
Goldcorp G 9379 34.75 32.83 34.04 -0.44
Avion Gold AVR 8750 0.51 0.41 0.46 -0.06

TSX greatest percentage change

Volume Week
  (000s) High Low Close Change
Meadow Bay Gd MAY 695 0.59 0.43 0.58 +39.7
TriAusMin TOR 66 0.10 0.08 0.10 +33.3
New Dawn Mng ND 37 1.05 0.75 0.95 +26.6
Northcliff Res NCF 34 0.59 0.43 0.56 +24.4
Black Iron BKI 111 0.25 0.18 0.25 +22.5
Rockwel Diam RDI 54 0.43 0.37 0.37 +21.3
Oromin Expl OLE 269 0.59 0.48 0.58 +20.8
Red Cresc Res RCB 147 0.09 0.07 0.09 +20.0
UEX Corp UEX 1228 0.63 0.51 0.62 +19.2
High River Gol HRG 17549 1.44 1.18 1.43 +18.1
Baja Mng BAJ 7904 0.13 0.08 0.09 -35.7
Intrepid Mns IAU 1059 0.62 0.34 0.39 -26.4
EMC Metals EMC 669 0.06 0.05 0.05 -25.0
Rockgate Cap RGT 287 0.40 0.31 0.31 -22.5
Homeland Enrgy HEG 93 0.02 0.02 0.02 -20.0
Mediterm Res MNR 34 0.09 0.09 0.09 -19.0
White Tigr Gld WTG 503 0.08 0.07 0.07 -18.7
AuRico Gold AUQ 11778 7.87 6.18 6.42 -18.1
Western Lithiu WLC 1309 0.17 0.14 0.14 -17.6
Solitario Ex&R SLR 15 1.33 1.16 1.16 -17.1

TSX greatest value change

  Week
  Volume Close Change
Agrium AGU 5266652 96.72 +5.46
Potash Cp Sask POT 12065728 46.01 +1.52
Tahoe Res THO 1499250 14.13 +1.26
First Majestic FR 1909795 15.52 +0.93
HudBay Minls HBM 2303069 8.53 +0.81
Russell Metals RUS 434910 25.17 +0.79
Dundee Prec Mt DPM 1842691 7.16 +0.76
New Gold NGD 4609228 10.22 +0.68
Silver Wheaton SLW 4028616 26.78 +0.57
Major Drilling MDI 841885 11.33 +0.53
Labdr I-Ore Ro LIF_U 626583 30.65 -1.89
Franco-Nevada FNV 3068500 46.35 -1.82
AuRico Gold AUQ 11777513 6.42 -1.42
Allied Nevada ANV 389072 26.90 -1.22
Centerra Gold CG 1466262 6.49 -0.80
Detour Gold DGC 1827214 20.95 -0.74
Alamos Gold AGI 1489361 15.01 -0.73
Royal Gold RGL 34457 75.20 -0.56
Yamana Gold YRI 11352017 14.55 -0.52
Eldorado Gold ELD 6521121 10.44 -0.48
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