U.S. Markets -Feb. 23-March 1

Data showing that the economy grew better than expected in the fourth quarter, combined with a weaker greenback, which boosts the shares of exporters and makes dollar-priced metals less expensive for non-U. S. investors, helped buoy U.S. equities during the Feb. 23-March 1 trading period. The U.S. government reported the economy grew at a 5.9% annual pace in the fourth quarter. The Dow Jones industrial average ended higher, up 156.67 points or 1.5% to 10,439.08, while the S&P 500 index edged up 21.11 points or 1.9% to close at 1,115.71.

The price of gold moved from its New York close of US$1,103.50 per oz. on Feb. 23 to US$1,118.00 per oz. on March 1, and with it the Philadelphia Gold & Silver index, which climbed 7.65 points or 4.9% to 164.11. However, gold stocks were eclipsed by base metals and energy stocks on the performance front, with the notable exception of Newmont Mining, which clocked the second-largest value gain, rising US$2.55 per share to close at US$50.28. Randgold Resources and Royal Gold also posted healthy performances, with advances of US$1.76 per share to US$74.20 and US$1.45 to US$45.46, respectively.

It was Cliffs Natural Resources, however, which stole the show, gaining US$4.59 to close at US$59.08. Cliffs is the largest producer of iron ore pellets in North America, a major supplier of direct-shipping lump and fines iron ore out of Australia and a significant producer of metallurgical coal. Consol Energy, the largest underground coal producer in the U.S., claimed the third-largest value gain, rising US$2.35 to US$52.29. Yanzhou Coal increased US$1.21 to US$22.02 and Alpha Natural Resources, a leading Central Appalachian coal producer with significant operations in northern Appalachia, advanced US$1.17 to US$48.11

On the negative side of the ledger, Rio Tinto shares were off US$2.08 per share, closing at US$210.66. The company suffered some negative publicity during the trading period after it locked out 600 workers from its Boron borax mine, 120 km north of Los Angeles, after five months of labour negotiations. Rio had tried unsuccessfully to sell the mine last year and had told the workers that concessions are required to stay competitive.

U.S. most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Alcoa* AA 166751 13.52 12.80 13.31 -0.23
Freeport McMo*FCX 84108 77.29 70.37 76.45 + 0.21
Barrick Gold* ABX 57592 38.55 35.79 38.45 + 0.08
Hecla Mining* HL 55473 5.34 4.80 5.33 + 0.03
Newmont Mng* NEM 48968 50.43 45.58 50.28 + 2.55
Silver Wheatn* SLW 44011 15.53 14.10 15.26 -0.33
Goldcorp* GG 39954 38.50 35.53 38.42 + 0.38
Goldspring* GSPG 38200 0.01 0.01 0.01 0.00
Gold Fields* GFI 33540 11.75 10.94 11.56 -0.08
Arch Coal* ACI 31920 22.89 20.51 22.69 + 0.34
U.S. greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Brookmount Ex* BMXI 34 0.12 0.07 0.10 + 25.0
Xtra-Gold Res* XTGR 265 1.27 1.00 1.25 + 23.7
Habanero Res* HBNRF 120 0.08 0.08 0.08 + 14.2
Argentex Mng* AGXM 422 0.81 0.67 0.80 + 14.2
Geovic Mng* GVCM 271 0.81 0.70 0.80 + 11.1
Gold Reserve* GRZ 383 1.19 1.05 1.19 + 10.1
Banro Res* BAA 861 2.15 1.82 2.09 + 10.0
Affinity Gold* AFYG 657 1.31 0.85 1.11 + 9.9
Crosshair E&M* CXZ 402 0.23 0.20 0.23 + 9.5
Northgate Mnl* NXG 11781 2.88 2.50 2.88 + 8.6
PolyMet Mng* PLM 8144 3.13 2.26 2.43 -22.6
Starfield Res* SRFDF 50 0.10 0.09 0.09 -18.1
NWT Uranium* NWURF 32 0.19 0.15 0.15 -16.6
Golden Phoen* GPXM 850 0.05 0.04 0.05 -16.6
Lake Vict Mng* LVCA 216 0.46 0.35 0.35 -16.6
Canarc Res* CRCUF 111 0.12 0.10 0.12 -14.2
Shoshone Silv* SHSH 53 0.17 0.15 0.15 -11.7
Samex Mng* SMXMF 183 0.37 0.30 0.32 -11.1
Grandview Gld* GVGDF 20 0.08 0.06 0.08 -11.1
Augusta Res* AZC 482 2.66 2.52 2.64 -8.9
U.S. greatest value change
WEEK
VOLUME CLOSE CHANGE
Cliffs Nat Rs* CLF 31522222 59.08 + 4.59
Newmont Mng* NEM 48967917 50.28 + 2.55
CONSOL Energy* CNX 19459948 52.29 + 2.35
Randgold Res* GOLD 6259962 74.20 + 1.76
Royal Gold* RGLD 3645204 45.46 + 1.45
AlumCpChina* ACH 974600 25.15 + 1.45
ASA (Bermuda)* ASA 123285 72.56 + 1.26
Yanzhou Coal* YZC 1724571 22.02 + 1.21
Agrium* AGU 1821500 65.83 + 1.17
Alpha Nat Res* ANR 12821185 48.11 + 1.17
Rio Tinto* RTP 4721495 210.66 -2.08
Cameco Corp* CCJ 12007240 27.82 -1.43
Soc Quim&M Ch*SQM 4427761 36.57 -1.33
Mosaic* MOS 20075317 59.45 -1.23
PolyMet Mng* PLM 8143694 2.43 -0.71
Mechel* MTL 3461600 23.70 -0.49
Potash C Sask* POT 27481856 112.95 -0.48
Silver Wheatn* SLW 44011238 15.26 -0.33
Augusta Res* AZC 482400 2.64 -0.26
Richmont Mine* RIC 429004 3.97 -0.24
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