TORONTO STOCK EXCHANGE MAY 13-16

The TSX Composite Index soared to an alltime high of 14,984.2 points over the holidayshortened May 13-16 trading period, up 2.2%, beating the previous record of 14,627 set about 10 months ago.

The Capped Metals and Mining Index rose 3.2%, up about 28 points to nearly 889, while the Global Gold Index gained 3.7%, or nearly 11.8 points, to 327.5.

Eastern Platinum Resources was the most traded stock over the period with 30.6 million shares changing hands, adding 14 to close at $3.04 per share. With platinum up 37% this year, the company has projected that it could produce 130,000 oz. in 2008, up from 112,000 oz. last year — but that’s if there are no power shortages at its Crocodile mine in South Africa.

Uranium One shares fell 4 to $4.52 each on a trading volume of 21.9 million shares, followed by Yamana Gold, up 63 to $15.02 with 21.1 million shares changing hands.

Kirkland Lake Gold shares climbed almost 28% higher over the period to $9.64 apiece after releasing some promising gold grades from its South Mine Complex on the Macassa Mine property. Assays from the New South zone include 4.9 metres grading 132.3 grams gold per tonne and 2.5 metres grading 111.1 grams gold. The zone is located close to newly developed mining infrastructure, which will allow the company to permit and mine the zone within the next year and a half, Kirkland Lake Gold says.

North American Palladium shares were up 26% over the session to $6.71 per share. The company reported earnings of $12.6 million in the first quarter compared with $5.5 million for the same period in 2007. North American Palladium achieved an average palladium price of US$455 per oz. compared with US$352 per oz. a year earlier. The company is considering a southern extension of its openpit mine, Lac des Iles, located 85 km north of Thunder Bay, Ont. The expansion would extend the pit life by two years.

Cline Mining shares saw the greatest percentage drop for the week, retreating 28.2% to $1.04 per share, after an 80% gain in the previous period. Cline has bought the surface assets at the New Elk coal mine in Colorado.

Protests at OceanaGold’s Didipio project in the Philippines put the company in the No. 2 spot with shares dropping 27.6% to $1.52. Oceana has failed to come to an agreement on taxes with the provincial government but the federal Department of the Environment and Natural Resources has given the company the go ahead for Didipio. The 2.5-million-tonne per year operation is expected to produce about 120,000 oz. gold and 15,000 tonnes of copper in concentrate over the first 10 years of production.

First Quantum Minerals shares fell $7.41 to $85.09 each after the company announced net earnings of $182 million for the first quarter, compared with $78.3 million during the same period last year.

TSX most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Eastern Platin	ELR	30607	3.20	2.83	3.04	+ 0.14
Uranium One	UUU	21867	4.62	4.05	4.52	-0.04
Yamana Gold	YRI	21091	15.15	13.86	15.02	+ 0.63
Cline Mng	CMK	20228	1.50	0.97	1.04	-0.41
Equinox Minls	EQN	20102	4.99	4.45	4.99	+ 0.38
Timminco	TIM	20083	28.95	23.27	28.50	+ 5.50
Crystallex Int	KRY	18876	1.31	0.67	0.84	-0.06
Kinross Gold	K	15586	20.98	19.23	20.66	+ 0.89
Barrick Gold	ABX	14291	40.59	37.87	40.18	+ 1.23
Breakwater Res	BWR	14238	0.94	0.80	0.84	+ 0.04

TSX greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Energem Res	ENM	360	0.45	0.29	0.43	+ 43.3
Kirkland Lk Gd	KGI	537	9.68	7.54	9.64	+ 27.5
North Am Pall	PDL	696	6.75	5.38	6.71	+ 25.8
Timminco	TIM	20083	28.95	23.27	28.50	+ 23.9
Adanac Moly	AUA	955	0.84	0.65	0.83	+ 23.8
Cardero Res	CDU	6145	3.16	2.45	3.16	+ 22.9
Arehada Mining	AHD	410	0.38	0.30	0.33	+ 22.2
Nord Res	NRD	57	0.88	0.81	0.88	+ 22.2
Nevoro	NVR	208	0.44	0.35	0.44	+ 22.2
Colombia Goldf	GOL	19	0.94	0.75	0.94	+ 20.5
Cline Mng	CMK	20228	1.50	0.97	1.04	-28.2
OceanaGold	OGC	1268	2.10	1.38	1.52	-27.6
Mawson Res	MAW	76	1.24	0.90	0.90	-26.2
Cancor Mines	KCR	15	0.12	0.12	0.12	-25.0
Mediterrn Res	MNR	692	0.22	0.19	0.19	-20.8
Zaruma Res	ZMR	3460	0.41	0.29	0.34	-19.0
Blue Note Mng	BN	6798	0.29	0.23	0.24	-17.2
San Anton Res	SNN	397	0.54	0.39	0.39	-17.0
Caldera Res	CDR	222	0.05	0.04	0.05	-16.6
Frontera Coppr	FCC	2581	4.67	3.65	3.77	-16.0

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Potash Cp Sask	POT	6117237	207.29	+ 5.54
Timminco	TIM	20083223	28.50	+ 5.50
Teck Comin A	TCKA	13605	55.91	+ 3.99
Teck Comin B	TCKB	11788776	51.71	+ 3.72
Newmont Mng	NMC	138072	48.80	+ 3.27
Agnico-Eagle	AEM	2515874	69.30	+ 3.00
Agrium	AGU	4182035	89.56	+ 2.67
Fording C C T	FDG_U	1723540	72.31	+ 2.31
Kirkland Lk Gd	KGI	537417	9.64	+ 2.08
Katanga Mng	KAT	2517065	13.46	+ 1.98
First Quantum	FM	2426203	85.09	-7.13
Inmet Mining	IMN	3488171	73.25	-4.21
Quadra Mng	QUA	5282274	25.09	-1.22
Polaris Minls	PLS	709331	7.00	-1.09
Harry Winston	HW	622375	29.34	-1.07
Horizns G Bear	HGD	1419692	10.05	-0.82
Mag Silver	MAG	724922	12.09	-0.76
Frontera Coppr	FCC	2581419	3.77	-0.72
OceanaGold	OGC	1267582	1.52	-0.58
Sherritt Intl	S	2797084	15.05	-0.55