Toronto Stock Exchange -February 9-12

The TSX composite index finished the Feb. 9-12 period higher despite a mid-period slump over concerns surrounding China’s decision to increase its bank reserve requirements. The move had investors worried that global economic growth could be curbed.

Markets were rebounding at presstime, however, on strong earning expectations. For the holiday-shortened period the TSX composite index was up 350 points to 11,469.81.

Commodities enjoyed a strong period after declining for several weeks. Gold finished US$30 higher at US$1,098.25, helping to move the Global Gold index upwards. The index finished the period 16 points higher at 319.70.

The news was also good for the base metals complex. Both the Capped Metals & Mining index and the Global Base Metals index finished the period higher on the back of stronger prices for copper, aluminum, nickel, tin, lead and zinc.

The prospect of more production for Erdene Resource Development had the Halifax-based company up 35% to 31¢ for the period. While the company announced two positive production developments, the more impactful news was that Xstrata would go ahead with opening the Donkin coal mine in Cape Breton, in which Erdene has a 25% stake. The junior also announced it would team up with a new partner to develop its Granite Hill aggregate project in Georgia in the U.S.

A deal with Silver Wheaton helped propel Augusta Resources up the market. The company finished the period trading 23% higher after announcing a forward sale of gold and silver from its Rosemont copper mine to Silver Wheaton. Augusta will use the upfront payment of US$230 million to build the mine. The company says it expects final permitting for Rosemont — which is near Tucson, Ariz. — to be completed in the fourth quarter of 2010.

Far West Mining also enjoyed a strong period. The company managed a 22% gain, finishing at $4.70 after updating its Santo Domingo project in Chile. The company said it drilled 32 holes for a total of 9,600 metres, and received favourable metallurgical results.

Bad news out of Zimbabwe took a toll on New Dawn Mining’s shares. The company saw its share price fall by 14%, finishing the period at $1.07, after the government of Zimbabwe announced it wants its indigenization plan to be in effect by April of this year. The indigenization plan calls for 51% of the company operating in Zimbabwe to be held by Zimbabwe nationals. New Dawn said it was weighing the implications of the government’s announcement.

MagIndustries announced a public offering and subsequently watched its share price fall. The company’s shares lost 19.2%, finishing at 42¢ as the market anticipated the coming dilution. The company said the offering would be done on a best-efforts basis, and that it would use the funds raised for working capital and general corporate purposes.

TSX most active issues
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Eastern Platin	ELR	21105	1.36	1.24	1.28	+ 0.03
TeckB	TCKB	20257	37.90	35.25	37.87	+3.37
Yamana Gold	YRI	17536	11.35	10.85	11.21	+ 0.49
Western C Coal	WTN	16194	3.75	3.26	3.71	+ 0.56
Barrick Gold	ABX	15501	39.00	37.33	38.74	+ 1.70
Lundin Mng	LUN	13809	4.41	4.09	4.30	+ 0.25
Crew Gold	CRU	13243	0.22	0.14	0.22	+ 0.07
Goldcorp	G	13074	39.43	37.50	39.35	+ 2.49
Amerigo Res	ARG	12394	0.73	0.66	0.67	-0.02
B2Gold	BTO	12273	1.27	1.23	1.25	0.00

TSX greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Crew Gold	CRU	13243	0.22	0.14	0.22	+ 46.6
Erdene Res Dev	ERD	1676	0.37	0.23	0.31	+ 34.7
Ursa Major Min	UMJ	3904	0.14	0.10	0.14	+ 27.2
Arehada Mining	AHD	105	0.14	0.12	0.14	+ 27.2
Hard Creek Ni	HNC	715	0.35	0.22	0.29	+ 26.0
Augusta Res	AZC	894	2.91	2.28	2.86	+ 22.7
Cline Mng	CMK	600	0.56	0.43	0.55	+ 22.2
Far West Mng	FWM	141	4.75	3.95	4.70	+ 22.0
Queenston Mng	QMI	131	5.25	4.33	5.25	+ 21.8
Silvercorp Mtl	SVM	4963	6.67	5.56	6.67	+ 21.4
Freegold Vent	ITF	1207	0.10	0.08	0.08	-20.0
MagIndustries	MAA	4577	0.51	0.41	0.42	-19.2
Delta Uran	DUR	261	0.06	0.05	0.05	-16.6
New Dawn Mng	ND	97	1.20	1.05	1.07	-14.4
Diamond Fields	DFI	501	0.07	0.05	0.06	-14.2
Malaga	MLG	646	0.15	0.12	0.13	-13.3
Zincore Mtls	ZNC	344	0.28	0.22	0.22	-12.0
South Am Silvr	SAC	171	0.34	0.30	0.30	-11.7
Zazu Metals	ZAZ	360	0.36	0.30	0.30	-11.7
Horizns G Bear	HGD	10611	5.15	4.72	4.79	-9.4

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
PotashCpSask	POT	4423446	117.90	+ 8.56
Agrium	AGU	4624042	67.60	+ 5.58
Agnico-Eagle	AEM	2535457	61.47	+ 5.36
Inmet Mining	IMN	1451207	58.05	+ 5.20
First Quantum	FM	2388917	74.40	+ 4.13
Teck B	TCKB	20256599	37.87	+ 3.37
Teck A	TCKA	11070	38.65	+ 2.95
Goldcorp	G	13073870	39.35	+ 2.49
Quadra Mng	QUA	3749399	15.22	+ 2.06
SouthGobi Engy	SGQ	510524	17.00	+ 1.90
HoriznsGBear	HGD	10611085	4.79	-0.50
Intl Royalty	IRC	1070303	6.81	-0.33
OrbitGarantD	OGD	572200	3.40	-0.25
New Dawn Mng	ND	96852	1.07	-0.18
Intl Minls Crp	IMZ	99297	4.16	-0.16
Uranerz Energy	URZ	20380	1.43	-0.12
MagIndustries	MAA	4576887	0.42	-0.10
Capital Gold	CGC	257207	3.55	-0.09
Forsys Metals	FSY	506838	3.99	-0.08
Africo Res	ARL	108533	0.87	-0.08