TORONTO STOCK EXCHANGE -Sept. 13-17

Despite the gold price setting new highs all week, the S&P-TSX composite index was unsettled over Sept. 13-17, chasing gains with losses to end the week up just 7.59 points at 12,164.56. Heavy trading on the last day of the week lifted the daily average to 244 million shares trade.

The overall market may have wavered but the bulls-versus-bears race painted a much more positive picture: 64 companies reached new 52-week share-price highs while only six fell to new lows.

The gold price may have taken the spotlight over the third week of September but silver also performed handsomely. Spot silver climbed almost US$1 over the week, closing at US$20.77 per oz., bringing the metal essentially back to its 2008 high of US$20.80 per oz.

Silver producers reaped the rewards of silver’s ascent. At least eight Toronto-listed silver producers hit new 52-week share price highs, from nascent producer Alexco Resource to established producers like First Majestic Silver, Mag Silver and Pan American Silver. Silver Wheaton, the main streaming company on the silver side, also hit a new high, climbing to $25.75.

Silver explorers also felt a push from the rising price of their target metal. The biggest story there was Golden Minerals, which is exploring the feasibility-stage El Quevar silver project in Argentina. Promising intercepts at the eastern and western ends of the current Yaxtch resource, such as 146 metres grading 317 grams silver per tonne and 2 metres of 970 grams gold, prompted the company to postpone completion of a feasibility study until more drilling can be completed. Golden Minerals gained $4.38 or 51% over the week to reach $13.34.

And gold producers responded to their metal’s increasing value. Gold closed at a new all-time nominal high three times during the week, including a Friday close of US$1,274.70 per oz. Centerra Gold and OceanaGold both rose new 52-week highs, as did Great Basin Gold.

Investors approved of Augusta Resource’s move to sell 20% of its flagship Rosemont copper-molybdenum project in Arizona to a Korean consortium. The Korean group will contribute US$176 million to project financing, in exchange for the ownership stake and an offtake agreement covering 30% of Rosemont’s copper concentrate and 20% of its copper cathode and moly concentrates. Augusta rose to $3.30.

Gabriel Resources got a healthy lift on news the Romanian government re-started the environmental permitting process for Gabriel’s 80.5%-owned Rosia Montana project, home to reserves calculated at 10 million oz. gold and 47 million oz. silver. A previous government suspended the process, which has been complicated by many political and environmental issues. Gabriel added 97¢ or 20% to reach $5.89.

TSX most active issues
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Kinross Gold	K	61217	19.55	16.99	18.93	+ 1.46
Eastern Platin	ELR	42858	1.50	1.28	1.38	+ 0.11
Alexis Minls	AMC	34715	0.22	0.14	0.18	+ 0.03
Uranium One	UUU	33851	3.47	3.13	3.13	-0.32
Andean Res	AND	30638	6.30	6.05	6.22	+ 0.10
New Gold	NGD	30585	6.50	5.79	6.50	+ 0.03
OceanaGold	OGC	26364	4.05	3.67	3.87	+ 0.32
Western Coal	WTN	24030	5.42	4.75	5.18	+ 0.48
Yamana Gold	YRI	21639	11.33	10.36	11.05	+ 0.53
Red Back Mng	RBI	20970	35.30	30.08	33.77	+ 2.85

TSX greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
CIC Energy	ELC	4900	7.25	2.81	6.04	+ 104.7
Marengo Mng	MRN	1930	0.16	0.08	0.15	+ 87.5
Golden Mnls	AUM	462	13.90	8.50	13.34	+ 56.9
South Am Silvr	SAC	4542	0.73	0.46	0.70	+ 55.5
INV Metals	INV	668	1.25	0.84	1.23	+ 44.7
PC Gold	PKL	1746	1.27	0.78	1.16	+ 43.2
Formation Mtls	FCO	450	1.52	1.04	1.43	+ 41.5
Gryphon Gold	GGN	1242	0.16	0.12	0.14	+ 40.0
PolyMet Mng	POM	1914	2.16	1.52	2.11	+ 38.8
MInera IRL	IRL	57	1.50	1.10	1.50	+ 36.3
Baffinland Irn	BIM	9074	0.68	0.55	0.56	-17.6
Grandview Gld	GVX	397	0.07	0.06	0.06	-14.2
Powertech Uran	PWE	456	0.22	0.18	0.19	-13.6
Vista Gold	VGZ	321	2.55	2.07	2.15	-12.9
Africo Res	ARL	231	0.90	0.82	0.90	-11.7
BRC DiamondCr	BCD	106	0.10	0.09	0.09	-10.0
First Nickel	FNI	2938	0.10	0.09	0.09	-10.0
Golden Predatr	GPD	1869	0.79	0.67	0.68	-9.3
Uranium One	UUU	33851	3.47	3.13	3.13	-9.2
Coro Mining	COP	794	0.55	0.50	0.50	-9.0

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Golden Mnls	AUM	461523	13.34	+ 4.84
Inmet Mining	IMN	1845782	57.07	+ 4.38
First Quantum	FM	2788298	67.45	+ 3.72
Imperial Metal	III	388154	20.40	+ 3.45
Agnico-Eagle	AEM	4413994	70.20	+ 3.10
CIC Energy	ELC	4899985	6.04	+ 3.09
Red Back Mng	RBI	20969540	33.77	+ 2.85
Ivanhoe Mines	IVN	4670283	20.99	+ 2.34
Newmont Mng	NMC	33903	65.01	+ 2.19
Royal Gold	RGL	15037	52.00	+ 1.90
PotashCpSask	POT	6560156	151.59	-2.61
HoriznsGBear	HGD	5453240	10.71	-0.71
North Am En Pa	NOA	28365	8.55	-0.64
SouthGobi Res	SGQ	257322	9.95	-0.61
Uranium One	UUU	33850981	3.13	-0.32
Vista Gold	VGZ	320738	2.15	-0.32
Crew Gold	CRU	685396	4.41	-0.31
Cons Thomp Irn	CLM	6882279	8.35	-0.29
Taseko Mines	TKO	2951083	4.44	-0.25
ExtorreGoldM	XG	2466556	4.45	-0.25