The TSX composite index lost momentum over the April 13-20 trading period, retreating 3.74 points to close at 12,144.92. The loss was largely due to a mild sell-off after regulators in the United States alleged that Goldman Sachs Group misled investors in the U.S. as the housing market was beginning to falter.
Mining stocks took the brunt of the hit — the Capped Metals and Mining index fell 2.7%, or 30.55 points, to close at 1,119.46, while the Global Gold index dropped 2%, or 7.32 points, to close at 327.54.
Marathon PGM shares gained the most on a percentage basis over the period reaching a new 52-week high of $2.65. Marathon shares rose almost 40% and closed the period at $2.21 per share. The company has reported some strong drill results from its Leprachaun gold deposit in central Newfoundland. The best interval contained 9 metres grading 38.32 grams gold per tonne. The company also reported its highest-grade mineralization yet — a short 80-cm intercept grading 321.05 grams gold.
Khan Resources ‘ share price fell the most losing 43% to close at 49¢ apiece after the company announced that its licence for its Dornod uranium project in Mongolia had been invalidated. Khan was told that its subsidiary had failed to address violations of Mongolian law stemming from a July 2009 report issued by an inspection team appointed by the Mongolian government. The company has been dealing with the government over the issue for some time and includes a detailed summary in an April 13 press release.
Red Back Mining was one of the top gainers by value, rising $1.56 per share to $23.90. Over the period, the company updated shareholders on first quarter exploration activities at its Tasiast gold mine in Mauritania and the Chirano gold mine in Ghana. The company has had some successful drill results at Tasiast, where it’s trying to extend mineralization of the Greenschist zone beyond the current 5-million-oz. pit shell with nine drill rigs in action. At Chirano, the company is focusing on updating resources of the Paboase underground discovery. The last resource in October 2009 was 1.74 million tonnes grading 4.43 grams gold for 248,000 oz. gold, plus inferred resources totaling 610,000 oz. gold.
Potash Corp. of Saskatchewan was the top loser by value over the period, plunging $5.94 per share to close at $108.42. Its competitor, Agrium, was next in line, falling $5.18 per share to $63.30. The shares dropped following news of weaker price outlooks for fertilizer. Analysts said price increases in fertilizer likely wouldn’t happen until the summer, when new export orders are expected from South America.
North American Palladium rose 79% to $5.30 apiece. The company restarted operations at its Lac des les palladium mine near Thunder Bay, Ont., and expects to produce 140,000 oz. palladium per year.
| TSX most active issues | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Eastern Platin | ELR | 28654 | 1.65 | 1.42 | 1.46 | -0.13 |
| Western C Coal | WTN | 27318 | 6.94 | 6.17 | 6.78 | + 0.50 |
| Mirabela Nickl | MNB | 24127 | 2.78 | 2.46 | 2.53 | -0.00 |
| First Metals | FMA | 23957 | 0.02 | 0.01 | 0.01 | 0.00 |
| Lundin Mng | LUN | 22314 | 5.53 | 5.08 | 5.20 | -0.36 |
| Yamana Gold | YRI | 19206 | 10.48 | 9.99 | 10.16 | -0.32 |
| Eldorado Gold | ELD | 18672 | 14.28 | 13.42 | 13.97 | -0.09 |
| Crowflight Mnl | CML | 18660 | 0.22 | 0.19 | 0.21 | 0.00 |
| Equinox Minls | EQN | 18373 | 4.30 | 3.98 | 4.24 | -0.13 |
| Katanga Mng | KAT | 18068 | 1.66 | 1.04 | 1.34 | + 0.19 |
| TSX greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Marathon PGM | MAR | 5785 | 2.65 | 1.69 | 2.21 | + 39.8 |
| Gryphon Gold | GGN | 515 | 0.19 | 0.14 | 0.19 | + 35.7 |
| Liberty Mines | LBE | 1236 | 0.29 | 0.22 | 0.28 | + 33.3 |
| Niocan Inc | NIO | 193 | 0.60 | 0.39 | 0.49 | + 28.9 |
| DynacorGoldM | DNG | 340 | 0.27 | 0.23 | 0.27 | + 22.7 |
| Zincore Mtls | ZNC | 964 | 0.38 | 0.28 | 0.36 | + 20.0 |
| Scorpio Mining | SPM | 6554 | 0.99 | 0.76 | 0.95 | + 18.7 |
| Inter-Citic Mn | ICI | 1739 | 1.35 | 1.02 | 1.30 | + 18.1 |
| North Am Pall | PDL | 4217 | 5.36 | 4.42 | 5.30 | + 17.5 |
| Katanga Mng | KAT | 18068 | 1.66 | 1.04 | 1.34 | + 16.5 |
| Khan Res | KRI | 5122 | 0.71 | 0.43 | 0.49 | -43.0 |
| San Anton Res | SNN | 604 | 0.22 | 0.14 | 0.18 | -25.0 |
| Inspiration Mg | ISM | 1013 | 0.41 | 0.32 | 0.32 | -21.9 |
| Crew Gold | CRU | 8587 | 0.36 | 0.29 | 0.29 | -21.6 |
| Anaconda Mng | ANX | 824 | 0.34 | 0.23 | 0.26 | -18.7 |
| X-Cal Res | XCL | 561 | 0.18 | 0.14 | 0.14 | -17.6 |
| Zazu Metals | ZAZ | 48 | 0.25 | 0.22 | 0.23 | -14.8 |
| Mundoro Cap | MUN | 614 | 0.94 | 0.80 | 0.80 | -13.9 |
| Augusta Res | AZC | 1290 | 2.90 | 2.46 | 2.50 | -12.8 |
| Armistice Res | AZ | 1557 | 0.32 | 0.25 | 0.28 | -12.5 |
| TSX greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| Labdr I-Ore Ro | LIF_U | 334811 | 53.94 | + 1.80 |
| Red Back Mng | RBI | 9716301 | 23.90 | + 1.56 |
| North Am Pall | PDL | 4217365 | 5.30 | + 0.79 |
| HudBay Minls | HBM | 8213883 | 13.94 | + 0.71 |
| Marathon PGM | MAR | 5785275 | 2.21 | + 0.63 |
| Western C Coal | WTN | 27318413 | 6.78 | + 0.50 |
| Imperial Metal | III | 644662 | 19.91 | + 0.43 |
| Centerra Gold | CG | 4439918 | 11.55 | + 0.40 |
| Andean Res | AND | 5059416 | 3.12 | + 0.33 |
| Russell Metals | RUS | 937485 | 21.40 | + 0.30 |
| PotashCpSask | POT | 4984187 | 108.42 | -5.94 |
| Agrium | AGU | 5342407 | 63.30 | -5.18 |
| Royal Gold | RGL | 11423 | 48.20 | -3.49 |
| Teck B | TCKB | 14663568 | 42.42 | -3.02 |
| First Quantum | FM | 2487842 | 79.96 | -2.28 |
| Inmet Mining | IMN | 1541753 | 57.90 | -1.25 |
| Newmont Mng | NMC | 16701 | 52.62 | -1.20 |
| Barrick Gold | ABX | 14779529 | 39.76 | -1.14 |
| Cameco Corp | CCO | 6341526 | 26.37 | -1.00 |
| Altius Mnrls | ALS | 234691 | 9.88 | -0.83 |
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