U.S. MARKETS -March 23-29

U.S. equity markets were relatively subdued in the week following the successful passage of U.S. President Barack Obama’s landmark healthcare plan through Congress. While a falling dollar boosted commodities as they became cheaper for other currency holders, overall the markets remained little changed during the March 23-29 reporting period. The Dow Jones industrial average edged up 7.03 points or 0.07% to finish at 10,895.86, while the S&P 500 index lost 0.95 point or 0.08% to close at 1,173.22 and the Nasdaq dropped 10.88 points or 0.5% to 2,404.36. U.S. economic reports on better consumer data and improved home prices put a slight damper on gold with the Philadelphia Gold and Silver index slipping 2.48 points or 1.5% to finish at 164.54. In New York the price of gold was up US$6.20 per oz. or 0.6% to US$1,109 per oz. on March 29.

Iron ore negotiations topped the news with signs that fixed-price annual contracts may soon become a thing of the past. Reuters news agency reported that BHP Billiton and Brazil’s Vale said they had convinced steel mills in Japan to buy iron ore based on a quarterly pricing system as of April 1. Shares of BHP Billiton closed US$2.08 per share higher at US$80.77, while Cliffs Natural Resources, the largest producer of iron ore pellets in North America, mounted US$7.61 to US$72.85. Rio Tinto scored the largest value gain, advancing US$9.45 to US$235.60 per share.

Rio Tinto also made headlines with the sentencing in China of four of its employees to between seven and 14 years in prison. The four employees, including Stern Hu, an Australian national, were convicted of bribery and stealing commercial secrets during iron ore negotiations. After a 2.5-day trial, during which charges related to stealing state secrets were held behind closed doors, the Shanghai No. 1 People’s Intermediate Court concluded that the four accused had passed on sensitive information. Rio Tinto sacked the four employees but the court ruling may poison diplomatic relations between China and Australia.

Coal producers Alpha Natural Resources and Massey Energy were both up with gains of US$3.60 to US$50.62 and US$3.42 to US$54.27, respectively.

On the negative side of the ledger were potash producers. Potash Corp. of Saskatchewan slipped US$2.43 to US$120.53 per share while Intrepid Potash dropped US$1.75 to US$28.95 per share.

U.S. most active issues
	VOLUME		WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Alcoa* AA	161755	14.67	14.08	14.44	+ 0.10
CONSOL Energy*CNX	69863	46.32	42.05	42.66	-2.03
Freeport McMo*FCX	65752	82.99	77.74	82.88	+ 3.08
Barrick Gold* ABX	60272	39.76	36.69	37.81	-1.60
Hecla Mining* HL	50468	5.69	5.17	5.42	0.00
Massey Energy* MEE	47572	54.66	49.04	54.27	+ 3.42
Goldcorp* GG	43817	39.12	36.35	37.51	-1.06
Cliffs Nat Rs* CLF	41383	73.95	65.72	72.85	+ 7.61
Peabody Enrgy* BTU	38852	47.96	43.84	46.07	-0.53
Newmont Mng* NEM	37669	52.06	48.20	50.37	-1.03

U.S. greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Metalline Mng*	MMG	488	1.02	0.77	1.02	+ 30.7
Habanero Res*	HBNRF	18	0.09	0.09	0.09	+ 28.5
Dejour Enterp*	DEJ	468	0.46	0.35	0.45	+ 28.5
El Capitan Pr*	ECPN	769	0.20	0.15	0.19	+ 26.6
Tombstone Exp*	TMBXF	1408	0.10	0.08	0.10	+ 25.0
New Jersey Mg*	NJMC	106	0.29	0.25	0.29	+ 16.0
Seabridge Gld*	SA	3610	25.02	20.85	24.46	+ 14.4
Constittn Mng*	CMIN	1087	1.01	0.83	0.96	+ 12.9
Uranerz Energ*	URZ	1475	1.90	1.69	1.87	+ 11.9
Cliffs Nat Rs*	CLF	41383	73.95	65.72	72.85	+ 11.6
Patriot Gold*	PGOL	206	0.38	0.25	0.30	-18.9
America West*	AWSR	141	0.16	0.11	0.11	-15.3
Legend Intl H*	LGDI	1022	1.39	1.15	1.15	-14.8
Samex Mng*	SMXMF	145	0.31	0.26	0.27	-12.9
Grandview Gld*	GVGDF	11	0.08	0.07	0.07	-12.5
Puda Coal*	PUDA	271	10.05	8.53	8.67	-11.5
Starfield Res*	SRFDF	55	0.09	0.08	0.08	-11.1
Radius Gold*	RDUFF	74	0.42	0.34	0.34	-10.5
Pac Rim Minin*	PMU	542	0.20	0.17	0.18	-10.0
Tri-Valley*	TIV	232	2.04	1.85	1.90	-9.0

U.S. greatest value change
WEEK
	VOLUME	CLOSE	CHANGE
Rio Tinto* RTP	4573901	235.60	+ 9.45
Cliffs Nat Rs* CLF	41383050	72.85	+ 7.61
Alpha Nat Res* ANR	26939582	50.62	+ 3.60
Massey Energy* MEE	47572481	54.27	+ 3.42
Seabridge Gld* SA	3609832	24.46	+ 3.09
Freeport McMo* FCX	65752058	82.88	+ 3.08
Teck B* TCK	24359414	42.32	+ 2.56
Mesabi Trust* MSB	750896	24.33	+ 2.13
Mechel* MTL	4717100	28.75	+ 2.10
BHP Billi-BHP* BHP	19357490	80.77	+ 2.08
Potash C Sask* POT	27599587	120.53	-2.43
SinoCoking Cl* SCOK	186036	33.49	-2.26
CONSOL Energy* CNX	69862679	42.66	-2.03
Intrepid Pots* IPI	1165500	28.95	-1.75
Barrick Gold* ABX	60272432	37.81	-1.60
Agnico-Eagle* AEM	12503049	56.11	-1.38
Puda Coal* PUDA	270600	8.67	-1.13
Compass Mnls* CMP	568000	79.88	-1.11
Royal Gold* RGLD	2207033	46.23	-1.08
Goldcorp* GG	43816701	37.51	-1.06