Toronto Stock Exchange August 26-29

The TSX Composite Index enjoyed a slight rally over the Labour Day-shortened Aug. 25-29 trading period, gaining 482.29 points to finish at 13,771.25.

Both the precious and base metals sectors contributed to the rally, despite shaky metal prices.

The Global Gold Index was up roughly 8 points to 282.64 although gold continued to trade on the lower side of the US$800-peroz. range, finishing the period at US$822.25.

As for the diversified miners: while copper, aluminum, nickel and tin prices were all down, the Capped Metals and Mining Index still managed a 30-point gain to 740.93.

The uptick came in the context of better than expected GDP figures in both Canada and the U. S., although at presstime the resource sector was dropping on lower oil prices as hurricane Gustav failed to wreak the anticipated havoc on oil supplies.

Inmet Mining’s sweetened offer for Petaquilla Copper won the favour of Petaquilla’s board and also made its stock the most traded for the week. Petaquilla was up 28 to $2.17 on roughly 54 million shares traded, as Inmet increased its all-cash offer to $2.20 a share. If successful, Inmet would have a 74% stake in the massive Petaquilla copper project in Panama.

Uranium One and GBS Gold rounded out the top three most actively traded companies with 43 million and 19.6 million shares changing hands, respectively.

The heavy volume associated with Uranium One came with a $1.03 gain in its share price to $4.55. In mid-August, the company announced record production in its second quarter that coincided with uranium prices recovering from the summer doldrums. At presstime, the spot price for uranium oxide was US$64.50 per lb.

As for GBS Gold, the Toronto-based miner with mines in Australia announced a reshuffling of its executive management team and a new approach to its underground mines that will see lower production in the coming year, but less mining risk. The news sent the miner’s shares down 67 to 21 for the period.

Outcropping diamonds in Baffin Island made Peregrine Diamonds the session’s big gainer. The Vancouver-based diamond explorer added 75% to finish at 42. Since it announced the discovery of a 6-hectare kimberlite in July, Peregrine has found a second, 3-hectare outcropping just 1.5 km away from the first.

Cost reductions at its zinc and lead Caribou mine in New Brunswick brought Blue Note Mining some respite. The Montrealbased miner announced a cost reduction to $89.68 per tonne in the second quarter compared with costs of $93.09 per tonne in the first quarter. The company says increased mill throughput coupled with further cost reductions will put total costs into the $75-to $78-per-tonne range during the third quarter.

TSX most active issues

TSX greatest percentage change

TSX greatest value change

	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Petaquilla Cop PTC	54001	2.20	2.17	2.17	+ 0.28
Uranium One UUU	43071	4.55	3.53	4.55	+ 1.03
GBS Gold Intl GBS	19624	0.87	0.19	0.21	-0.67
Blue Note Mng BN	18077	0.07	0.05	0.07	+ 0.02
Eastern Platin ELR	17937	1.64	1.48	1.57	-0.01
Homeland Enrgy HEG	17589	1.40	0.89	1.28	+ 0.31
Sherritt Intl S	16347	9.58	8.85	9.55	+ 0.30
Gold Eagle Mns GEA	14836	12.15	11.78	12.05	+ 0.21
Yamana Gold YRI	13793	11.84	11.17	11.53	+ 0.14
Goldcorp G	11709	37.25	34.80	36.12	+ 0.96

		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Peregrine Diam	PGD	4274	0.63	0.23	0.42	+ 75.0
Diamond Fields	DFI	280	0.05	0.04	0.05	+ 66.6
Volta Res	VTR	64	0.34	0.23	0.33	+ 43.4
Cline Mng	CMK	3570	1.33	0.90	1.26	+ 40.0
Blue Note Mng	BN	18077	0.07	0.05	0.07	+ 40.0
Bannerman Res	BAN	136	0.82	0.62	0.82	+ 36.6
Yukon-Nev Gold	YNG	2164	0.24	0.17	0.23	+ 35.2
Rubicon Mnrls	RMX	4612	2.00	1.35	1.84	+ 35.2
Atlanta Gold	ATG	24	0.70	0.56	0.70	+ 32.0
Homeland Enrgy	HEG	17589	1.40	0.89	1.28	+ 31.9
GBS Gold Intl	GBS	19624	0.87	0.19	0.21	-76.1
Arehada Mining	AHD	11	0.20	0.15	0.15	-25.0
Tiger Res	TGS	40	0.37	0.35	0.35	-22.2
Sterling Mng	SMQ	54	0.66	0.53	0.53	-22.0
Colombia Goldf	GOL	59	0.40	0.37	0.37	-21.2
Labdr Iron Mns	LIR	15	3.66	2.96	2.96	-19.1
Gryphon Gold	GGN	431	0.35	0.25	0.29	-17.1
Powertech Uran	PWE	151	0.92	0.74	0.75	-15.7
Gitennes Expl	GIT	35	0.13	0.11	0.11	-15.3
High River Gol	HRG	7793	0.82	0.64	0.69	-14.8

< td>+ 2.19

WEEK
		VOLUME	CLOSE	CHANGE
Labdr I-Ore Ro	LIF_U	408253	55.72	+ 5.20
Teck Comin B	TCKB	6578396	44.36	+ 2.90
Major Drilling	MDI	151454	43.00	+ 2.90
Teck Comin A	TCKA	13107	45.25	+ 2.34
Inmet Mining	IMN	1708461	63.95	+ 2.20
Katanga Mng	KAT	584478	11.50
IShCOMEXGTr	IGT	18757	86.90	+ 1.84
Newmont Mng	NMC	21561	47.68	+ 1.77
First Quantum	FM	2315940	68.50	+ 1.70
Fording C C T	FDG_U	4132675	94.45	+ 1.57
Potash Cp Sask	POT	4125165	184.76	-1.34
Timminco	TIM	2184242	14.90	-1.00
Boliden AB	BLS	10500	6.79	-0.71
Labdr Iron Mns	LIR	14700	2.96	-0.70
GBS Gold Intl	GBS	19624129	0.21	-0.67
Horizns G Bear	HGD	2002723	11.61	-0.66
GrandeCacheC	GCE	5240598	5.24	-0.51
Banro Res	BAA	203487	3.68	-0.35
Comaplex Mnrl	CMF	60802	6.00	-0.25
Moto Gold Mine	MGL	653130	2.23	-0.24