U.S. MARKETS -August 2-6

Markets rose during the Aug. 2-6 trading period, with some of the major mining companies making some significant gains and gold rising back over the US$1,200-per-oz. level.

But first, looking at the indexes, the Dow Jones industrial average was up 1.8%, or 187.62 points, to close at 10,653.56.

The S&P 500 index climbed 1.8%, or 20.04 points, to close at 1,121.64 while the Nasdaq increased 1.5%, or 33.77 points, to 2,254.70.

Gold prices rose 3.3% or US$38.75 to US$1,207.75 per oz., which helped push the Philadelphia Gold and Silver index up 3.4%, or 5.77 points, to 175.49 while the Amex Gold Bugs index jumped 3.9%, or 17.3 points, to finish at 459.94.

Major gold miners on the rise included Agnico-Eagle Mines, up US$3.94 to US$59.69 per share, Barrick Gold, up US$2.29 to US$43.39 apiece and Newmont Mining, up US$1.14 to US$57.04.

However, Randgold Resources was the top loser by value, falling US$3.66 to US$86.62 per share, after the West Africa-focused miner announced that costs had risen 39% to US$665 per oz. gold while power cuts reduced output over the last quarter. The company still said that it would be within 5% of its 2010 production goal of 477,000 oz. gold.

Peruvian miner Minas Buenaventura’s shares fell US$2.17 to US$36.44 apiece. The Peruvian government gave Buenaventura and Newmont the final nod for starting operations at their La Zanja gold mine, which will produce 100,000 oz. gold per year. Buenaventura owns 53% of the mine while Newmont holds the remainder.

Kinross Gold was down slightly after announcing plans to buy Red Back Mining in a friendly US$7.1-billion deal. Kinross shares fell US63¢ to US$15.76.

Potash Corp. of Saskatchewan shares saw a dramatic rise over the period, gaining US$8.67 to US$113.54 after profit more than doubled in the second quarter due to higher potash prices. Potash Corp. reported net earnings of US$472 million, up from US$186.2 million in the second quarter of 2010.

Mountain Province Diamonds was one of the most significant gainers on a percentage basis with shares rising 23% to US$3.63 apiece after valuation results were released from its Gahcho Kue diamond project in Canada’s Northwest Territories. WWW International Diamond Consultants valued 8,243.56 carats at US$134.06 per carat for a total of US$1.1 million.

The company plans to complete a feasibility study by the end of August.

U.S. most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Alcoa* AA 109121 11.78 11.33 11.59 + 0.45
Freeport McMo* FCX 53540 76.25 73.05 74.61 + 3.07
Kinross Gold* KGC 52725 16.72 15.27 15.76 -0.63
Potash C Sask* POT 38621 116.49 105.75 113.54 + 8.67
Mosaic* MOS 34856 52.78 46.28 51.19 + 3.59
Barrick Gold* ABX 34325 43.97 40.66 43.39 + 2.29
Newmont Mng* NEM 30498 58.00 54.98 57.04 + 1.14
Hecla Mining* HL 30056 5.22 4.91 5.12 + 0.18
Peabody Enrgy* BTU 27143 48.98 45.46 48.64 + 3.56
Cliffs Nat Rs* CLF 26700 62.48 58.25 60.03 + 3.46
U.S. greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Affinity Gold* AFYG 152 0.08 0.05 0.07 + 40.0
Tombstone Exp* TMBXF 593 0.07 0.05 0.07 + 40.0
Linux Gold* LNXGF 262 0.04 0.03 0.04 + 33.3
Cream Mnrls* CRMXF 63 0.08 0.06 0.08 + 33.3
Fischer-W Gld* FWGO 62 0.05 0.04 0.05 + 25.0
Habanero Res* HBNRF 50 0.10 0.10 0.10 + 25.0
Mountain Prov* MDM 297 3.69 2.99 3.63 + 23.0
Elray Res* ELRA 7179 0.13 0.09 0.12 + 20.0
Caledonia Mng* CALVF 157 0.06 0.05 0.06 + 20.0
Starfield Res* SRFDF 22 0.06 0.06 0.06 + 20.0
DouglasLkMl* DLKM 166 0.15 0.10 0.10 -37.5
Tara Gold* TRGD 56 0.41 0.35 0.35 -12.5
Canarc Res* CRCUF 25 0.08 0.08 0.08 -11.1
Madison Minls* MMRSF 14 0.09 0.07 0.08 -11.1
Patriot Gold* PGOL 23 0.20 0.16 0.17 -10.5
Alberta Star * ASXSF 56 0.41 0.38 0.38 -9.5
America West* AWSR 44 0.11 0.10 0.10 -9.0
New Jersey Mg* NJMC 41 0.23 0.20 0.22 -8.3
Anooraq Res* ANO 848 1.24 1.05 1.05 -7.8
Dejour Enterp* DEJ 203 0.42 0.34 0.37 -7.5
U.S. greatest value change
WEEK
VOLUME CLOSE CHANGE
Potash C Sask* POT 38621068 113.54 + 8.67
Alpha Nat Res* ANR 16848630 43.82 + 5.49
Compass Mnls* CMP 385800 75.12 + 4.43
Agnico-Eagle* AEM 9379931 59.69 + 3.94
Mosaic* MOS 34855714 51.19 + 3.59
Massey Energy* MEE 22782928 34.15 + 3.57
Peabody Enrgy* BTU 27143294 48.64 + 3.56
Cliffs Nat Rs* CLF 26700274 60.03 + 3.46
Agrium* AGU 5210500 66.29 + 3.29
BHP Billi-BBL* BBL 7537251 64.82 + 3.28
Randgold Res* GOLD 4745289 86.22 -3.66
Buenaventura* BVN 5315695 36.44 -2.17
Kinross Gold* KGC 52724826 15.76 -0.63
Teck B* TCK 19713674 34.63 -0.62
AlumCpChina* ACH 854600 21.60 -0.56
North Am En P* NOA 155800 9.29 -0.37
Mesabi Trust* MSB 555735 23.97 -0.35
Harry Winston* HWD 157400 12.07 -0.25
Uranium Ener* UEC 302600 2.61 -0.16
Intl Tower Hi* THM 130800 6.05 -0.15
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