Toronto Stock Exchange -Feb. 23-March 1

Positive economic indicators out of both the U.S. and Canada helped to keep the TSX composite index at respectable levels for the Feb. 23 -March 1 period. Canada reported that gross domestic product grew by 5% in the fourth quarter, but the Bank of Canada maintained historic low interest rates at 0.25%, providing support for the market.

And while the index still finished off just slightly for the period — it was down 31 points at 11,732.12 — markets were beginning to rally at presstime.

Positive economic indicators, however, hadn’t yet worked there way through to commodity prices. Gold finished the period flat in the US$1,115.00 range, and the Global Gold index was mostly flat as it finished the period down a single point to 325.02.

As for base metals, only the price of nickel made significant gains as it finished the period trading for US$9.69 per lb. The prices for copper, aluminum, tin, lead and zinc were all relatively flat. The lack of activity in metals pricing was reflected in the indexes with the Capped Metals & Mining index finishing the period at 1,047 points (down three points) while the Global Mining index was off just 0.27 point to 99.29.

A takeover offer from Russian steel giant Severstal had Crew Gold leap to the top of the biggest gainers by percentage for the period. Crew’s shares jumped 73% to finish at 38¢ after Severstal announced that it was looking to acquire the rest of the company — Severstal already has a 27% stake in Crew — for 20¢ a share. Crew’s key asset is the LEFA mine in Guinea, which is expected to produce 250,000 oz. gold per year.

Severstal’s interest also had a positive spillover effect for Endeavour Financial. Endeavour has a 37% stake in Crew after making a shrewd move roughly a month ago. Endeavour was able to purchase Crew shares at an average price of 12¢ per share. Endeavour shares were up 32% for the period to finish at $2.50.

Two new resource estimates grabbed positive market attention for Powertech Uranium. First the Vancouver-based company released results from its Centennial project where it put 6.8 million tons averaging 0.09% U3O8 for 10.3 million lbs. U3O8 in the indicated category. Then, just a week later on March 1, the company released an estimate for its Dewey-Burdock project in South Dakota. There the company says it has outlined 1.5 million tons averaging 0.214% U3O8 for 6.7 million lbs. of U3O8 in the indicated category. Powertech shares climbed 25% to finish the period at 35¢.

It was also a good period for Chariot Resources. The Toronto-based company, with a key copper asset in Peru, announced that its search for a suitor could well be over as Hong Kong-based China Sci-Tech made a 67¢ per share offer for the company. The news had Chariot shares up 18% to 65¢ for the period.

TSX most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
First Uranium FIU 32838 1.87 1.16 1.45 + 0.24
Crew Gold CRU 28747 0.39 0.22 0.38 + 0.16
Chariot Res CHD 25708 0.66 0.56 0.65 + 0.10
Barrick Gold ABX 20610 40.19 38.21 40.05 -0.02
Eastern Platin ELR 18409 1.34 1.26 1.34 + 0.03
Yamana Gold YRI 17676 11.24 10.53 11.19 + 0.29
Lundin Mng LUN 17575 4.52 4.27 4.38 -0.12
Endeavour Finl EDV 16632 2.55 1.81 2.50 + 0.61
Equinox Minls EQN 16565 3.45 3.22 3.38 -0.07
Teck B TCKB 13840 39.97 36.80 39.94 + 0.22
TSX greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Crew Gold CRU 28747 0.39 0.22 0.38 + 72.7
BRC DiamondCr BCD 29 0.16 0.12 0.15 + 36.3
Endeavour Finl EDV 16632 2.55 1.81 2.50 + 32.2
Powertech Uran PWE 153 0.36 0.31 0.35 + 25.0
First Uranium FIU 32838 1.87 1.16 1.45 + 19.8
Coro Mining COP 773 0.55 0.42 0.55 + 19.5
Northland Res NAU 76 2.07 1.70 2.02 + 18.8
Chariot Res CHD 25708 0.66 0.56 0.65 + 18.1
Tri Origin Mnl TOR 10 0.14 0.14 0.14 + 16.6
Arehada Mining AHD 700 0.20 0.12 0.15 + 15.3
Zazu Metals ZAZ 672 0.34 0.23 0.23 -30.3
PolyMet Mng POM 1267 3.15 2.40 2.53 -22.1
Niocan Inc NIO 12 0.34 0.28 0.28 -17.6
X-Cal Res XCL 275 0.14 0.12 0.12 -14.2
Allied Gold ALG 67 0.28 0.25 0.25 -13.7
Khan Res KRI 5790 1.08 0.88 0.92 -13.2
Pac NW Cap PFN 154 0.17 0.14 0.14 -12.5
Acadian Mng ADA 1099 0.08 0.06 0.07 -12.5
Crescent Gold CRA 11 0.16 0.14 0.14 -12.5
Talon Metals TLO 10 0.35 0.34 0.35 -12.5
TSX greatest value change
WEEK
VOLUME CLOSE CHANGE
Newmont Mng NMC 37827 52.40 + 2.40
Red Back Mng RBI 9449529 21.19 + 2.27
Royal Gold RGL 56443 47.31 + 1.45
Agrium AGU 3524731 68.67 + 1.20
Imperial Metal III 238698 14.71 + 1.01
Major Drilling MDI 223624 27.52 + 0.85
Agnico-Eagle AEM 3395971 61.26 + 0.84
IShCOMEXGTr IGT 11549 114.30 + 0.72
FNX Mining FNX 4906121 12.89 + 0.68
Endeavour Finl EDV 16632311 2.50 + 0.61
Inmet Mining IMN 1898199 55.92 -4.33
Cameco Corp CCO 5449732 29.05 -1.41
First Quantum FM 2461492 80.35 -0.80
PolyMet Mng POM 1267197 2.53 -0.72
SouthGobi Engy SGQ 511995 16.31 -0.69
Golden Mnls AUM 16790 9.90 -0.60
Far West Mng FWM 49544 4.15 -0.41
PotashCpSask POT 3818907 117.83 -0.38
Russell Metals RUS 1257790 18.60 -0.35
Detour Gold DGC 939573 17.04 -0.30
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