TORONTO STOCK EXCHANGE -August 16-20

After enduring a couple of tough weeks, the TSX composite index rebounded slightly for the Aug. 16-20 period, carving out a gain of 200 points to finish at 11,722.

The Global Gold index managed a marginal uptick of 8 points to 379.63 points as gold held on to its value finishing the week where it began at US$1,223.50. A weaker U.S. dollar and uncertainty over the global economy were seen as keys to the yellow metal’s continued strength.

The diversified miners enjoyed a stronger period as the Capped Metals and Mining index was up 18 points to 914.11. The move came with the price of copper flat at US$3.26 per lb., and tin up slightly to US$9.45 per lb. The price of aluminum and nickel fell slightly, while lead and zinc prices were flat.

BHP Billiton’s bid for Potash Corp. of Saskatchewan was the big mining story of the week and made Potash Corp. the largest gainer by value. The company’s shares were up $41.05 to $157.06, signaling that investors believe a sweeter offer will arrive. BHP’s offer is for US$130 per share — a 20% premium to Potash Corp.’s closing price on Aug. 11, the day before BHP made its pitch.

And while the offer values Potash Corp. at about US$40 billion, making it the second-largest offer in Canadian history behind Rio Tinto’s US$43-billion acquisition of Alcan in 2007, Potash Corp.’s board rejected it unanimously.

Vista Gold shares jumped 33% to $2.04 after releasing a resource update as part of its prefeasibility study for its Mt. Todd gold project in Australia. The company managed to put 190.9 million tonnes into the measured and indicated category grading 0.84 gram gold for 5.13 million oz. gold. Operating costs for a future mine were estimated at US$507 per oz. over a mine life of 8.9 years. The mill is expected to turn out 187,500 oz. gold per year.

It was a busy period for Yukon-Nevada Gold with the company announcing second quarter results, closing a US$25-million financing and reporting drill results from its Ketza River gold project in the Yukon. The net affect of all the news was positive as the company’s shares finished 30% higher at 61¢. Drill highlights from Ketza River include 2.4 metres grading 20.8 grams gold and 3.2 metres of 12.2 grams gold. The company also reported that its troubled Jerritt Canyon gold mine in Nevada is almost back on track.

TSX most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Lundin Mng LUN 37294 4.14 3.72 4.12 + 0.34
Eastern Platin ELR 29766 1.10 0.99 1.08 + 0.10
KinrossGold K 2916916.44 15.34 16.21 +0.40
Great Basin Go GBG 25896 2.24 1.94 2.12 + 0.20
Yukon-Nev Gold YNG 21945 0.65 0.45 0.61 + 0.14
PotashCpSask POT 17101157.19 115.56 157.06 +41.05
Western Coal WTN 15640 3.96 3.70 3.80 -0.09
Teck B TCKB 14971 36.35 33.05 34.35 + 0.80
Red Back Mng RBI 14455 28.72 26.84 28.40 + 0.47
B2Gold BTO 13821 1.97 1.76 1.90 + 0.15
TSX greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
PotashCpSask POT 17101213 157.06 + 41.05
Royal Gold RGL 16652 51.34 + 3.71
Seabridge Gold SEA 274942 29.58 + 3.25
Allied Nevada ANV 1700019 23.06 + 2.76
Goldcorp G 12127081 43.94 + 2.61
Barrick Gold ABX 10568363 46.90 + 2.12
Coeur d Alene CDM 94164 17.19 + 2.02
Agrium AGU 8503780 72.03 + 1.96
Agnico-Eagle AEM 3134104 66.23 + 1.90
Newmont Mng NMC 28673 60.81 + 1.87
First Quantum FM 2303164 56.15 -3.80
SouthGobi Res SGQ 252698 10.81 -1.12
HoriznsGBear HGD 2953250 11.94 -0.99
Imperial Metal III 121993 15.75 -0.65
Crew Gold CRU 168221 4.42 -0.28
PlatinumGpMt PTM 2017897 1.86 -0.24
Virginia Mines VGQ 66607 7.50 -0.24
Harry Winston HW 837413 11.61 -0.19
Volta Res VTR 8888819 1.40 -0.14
Capital Gold CGC 118573 3.53 -0.13
TSX greatest value change
WEEK
VOLUME CLOSE CHANGE
PotashCpSask POT 17101213 157.06 + 41.05
Royal Gold RGL 16652 51.34 + 3.71
Seabridge Gold SEA 274942 29.58 + 3.25
Allied Nevada ANV 1700019 23.06 + 2.76
Goldcorp G 12127081 43.94 + 2.61
Barrick Gold ABX 10568363 46.90 + 2.12
Coeur d Alene CDM 94164 17.19 + 2.02
Agrium AGU 8503780 72.03 + 1.96
Agnico-Eagle AEM 3134104 66.23 + 1.90
Newmont Mng NMC 28673 60.81 + 1.87
First Quantum FM 2303164 56.15 -3.80
SouthGobi Res SGQ 252698 10.81 -1.12
HoriznsGBear HGD 2953250 11.94 -0.99
Imperial Metal III 121993 15.75 -0.65
Crew Gold CRU 168221 4.42 -0.28
PlatinumGpMt PTM 2017897 1.86 -0.24
Virginia Mines VGQ 66607 7.50 -0.24
Harry Winston HW 837413 11.61 -0.19
Volta Res < /td>

VTR 8888819 1.40 -0.14
Capital Gold CGC 118573 3.53 -0.13
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