TORONTO STOCK EXCHANGE -August 23-27

While the market was digesting mixed signals from the broader economy the TSX composite index managed to scratch out a 161 point gain to finish the Aug. 23-27 period at 11,879.72.

The stronger period came despite Canadian retail sales sliding and corporate profits being off for the first time in four quarters. That bad news, however, was buttressed by word that home prices showed a 14% year-over-year gain and a growing consensus that the Bank of Canada will not raise rates as much as originally expected over the coming 12 months.

Gold continued its strong run, as risk aversion kept investors seeking the store of value that the yellow metal represents. Such sentiment had gold up another US$10 to finish the period at US$1,235. That good news helped spur gold miners as evidenced by the Global Gold index, which was up 20 points to 394.54.

While it wasn’t the strongest week for base metal prices the Capped Metals and Mining index still managed to carve out a modest gain of 20 points as it finished at 931.71. Concerns over global economic growth prospects kept the price of copper and lead flat while the price for aluminum, nickel and zinc were all lower than where they were the period previous.

Word that Goldstone Resources had halted its drilling program at Key Lake actually had a positive impact on the company’s share price. The company said drilling had to stop after its geologists resigned in response to a requisition at a shareholders meeting. Goldstone didn’t give any information as to why such news would send its share price up 58% to 63¢, on heavier than usual volume.

The faith of HudBay Minerals in Augusta Resource sent the latter’s share price up 19% to $2.52 for the period. HudBay subscribed to roughly 11 million Augusta units in a private placement at a price of $2.75 per unit, securing $30 million for Augusta. The deal will give HudBay a 13.6% stake in the company on a fully diluted basis. HudBay shares were up 67¢ to $15.03 apiece.

A water use licence from the Yukon Water Board had Alexco Resource’s shares climbing 21% to $4.32. The licence is for its Bellekeno silver mine and mill project, located within the Keno Hill silver district. The licence is the last permit Alexco needed to eventually reach commercial production at the project. The company said it is nearing construction completion.

Securing the rights to Real Del Limon Ejido’s project had Torex Gold Resources in positive territory as its shares jumped 19% to $1.28. The signing of the agreement was the final step in Torex’s attempt to consolidate the exploration areas of the Morelos gold project, which sits 180 km southwest of Mexico City. The company said the agreement will allow it to conduct exploration work for one year after which time it will seek to negotiate a permanent agreement.

TSX most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Kinross Gold K 32587 17.36 15.80 17.36 + 1.20
Eastern Platin ELR 28220 1.13 1.02 1.07 -0.01
Lundin Mng LUN 28111 4.36 3.97 4.30 + 0.18
Western Coal WTN 19907 3.91 3.47 3.71 -0.09
Torex Gold TXG 16278 1.32 1.10 1.28 + 0.20
Uranium One UUU 16122 3.50 3.13 3.44 -0.06
Yamana Gold YRI 16032 10.95 10.37 10.81 + 0.32
Barrick Gold ABX 15516 49.24 45.55 48.98 + 2.21
Teck B TCKB 15030 35.25 32.26 35.11 + 0.76
Eldorado Gold ELD 13690 20.68 18.82 20.67 + 1.33
TSX greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Goldstone Res GRC 6315 0.66 0.37 0.63 + 57.5
Oromin Expl OLE 2226 1.27 0.89 1.27 + 41.1
Gryphon Gold GGN 154 0.14 0.09 0.14 + 40.0
Velocity Minls VLC 180 0.11 0.08 0.11 + 37.5
Talon Metals TLO 969 0.49 0.35 0.45 + 32.3
Acadian Mng ADA 380 0.05 0.04 0.05 + 25.0
CIC Energy ELC 3040 2.72 1.85 2.42 + 24.7
Alexco Res AXR 1258 4.50 3.56 4.32 + 20.6
Augusta Res AZC 1967 2.61 2.10 2.52 + 18.8
Torex Gold TXG 16278 1.32 1.10 1.28 + 18.5
Polaris Minls PLS 481 1.33 0.88 0.90 -34.7
Silver Bear Rs SBR 34 0.29 0.26 0.26 -18.7
Dejour Enterp DEJ 432 0.36 0.31 0.32 -17.9
Yukon-Nev Gold YNG 9248 0.59 0.47 0.53 -13.1
Bannerman Res BAN 426 0.38 0.32 0.33 -13.1
Golden Predatr GPD 710 0.55 0.47 0.48 -12.7
Hard Creek Ni HNC 192 0.23 0.20 0.21 -12.5
Ursa Major Min UMJ 112 0.09 0.07 0.07 -12.5
GoldWheatonG GLW 3551 3.70 3.15 3.20 -12.0
Energy Fuels EFR 1727 0.26 0.20 0.22 -12.0
TSX greatest value change
WEEK
VOLUME CLOSE CHANGE
Detour Gold DGC 2050125 32.60 + 2.85
First Quantum FM 2491244 58.68 + 2.73
Goldcorp G 12407163 46.65 + 2.71
Agnico-Eagle AEM 3642920 68.60 + 2.37
Seabridge Gold SEA 183053 31.86 + 2.28
Red Back Mng RBI 9483824 30.65 + 2.25
Barrick Gold ABX 15516187 48.98 + 2.21
Newmont Mng NMC 27175 62.87 + 2.06
Silver Wheaton SLW 8166994 23.94 + 1.89
Inmet Mining IMN 748949 51.44 + 1.44
PotashCpSask POT 8446048 154.99 -2.07
HoriznsGBear HGD 2822567 11.04 -0.90
Labdr I-Ore Ro LIF_U 257832 47.61 -0.89
Osisko Mng OSK 6706753 13.99 -0.75
Cameco Corp CCO 6077656 25.97 -0.71
Harry Winston HW 1064486 10.92 -0.69
North Am En Pa NOA 44941 9.00 -0.59
Major Drilling MDI 244954 23.71 -0.56
Polaris Minls PLS 481077 0.90 -0.48
GoldWheatonG GLW 3550511 3.20 -0.44
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