U.S. MARKETS -Sept. 13-17

Gold shone brightly over the Sept. 13-17 trading week, as individuals through to nations sought out a safe investment on the second anniversary of the collapse of Lehman Brothers and the rush pushed the yellow metal’s price to new all-time nominal highs. In fact, gold hit a new high three times in five days: US$1,269 per oz. on Tuesday, US$1,275 on Thursday, and then US$1,277 per oz. on Friday.

New global rules requiring banks to increase their core capital cushions to at least 4.5% of assets, up from 2%, helped banking stocks. But the U.S. dollar fell to a new 15-year low against the yen early in the week, prompting recently re-elected Japanese Prime Minister Naoto Kan to announce his nation will sell yen and buy dollars.

Generally, many investors remain cautious or confused, as data seem contradictory; for example, reports showed slight improvements in retail sales but decreases in consumer confidence. The looming midterm elections add to the uncertainty. By the end of the week the Dow Jones industrial average was up 145.1 points or 0.6% while the S&P 500 index advanced 7.17 points or 0.6%.

Kinross Gold shareholders approved its merger with Red Back Mining and the news prompted 60 million Kinross shares to change hands over the week, lifting its share price US$1.34 to US$18.20. Barrick Gold and Freeport McMoRan Copper & Gold also rose over the week, closing at US$45.99 and US$81.72, respectively.

Rio Tinto converted a maturing US$350-million convertible credit facility, plus accrued interest of US$50.8 million, into roughly 40.1 million Ivanhoe Mines shares. The move increased Rio’s stake in Ivanhoe to 34.9% from 29.6%; the major has now invested US$1.7 billion in Ivanhoe, aimed at advancing Oyu Tolgoi. Ivanhoe’s share price climbed US$2.02 to US$20.33.

Despite having acquired INR Energy’s coal operations, Cliffs Natural Resources lowered its 2010 North American coal sales volume and price outlook because of adverse geologic conditions at its main Pinnacle mine. The company now expects to sell 3.9 million tons of coal at US$115 to US$120 per ton. Cliffs slid US$6.17 to US$60.96.

U.S. most active issues
	VOLUME		WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Alcoa* AA	115637	11.59	11.10	11.17	-0.00
Silverado* SLGLF	60812	0.01	0.01	0.01	0.00
Kinross Gold* KGC	59805	19.00	16.53	18.20	+ 1.34
Barrick Gold* ABX	45650	46.75	44.09	45.99	+ 1.27
Freeport McMo* FCX	43713	82.57	80.02	81.72	+ 2.41
Hecla Mining* HL	40315	6.26	5.84	6.12	+ 0.32
Newmont Mng* NEM	35326	64.03	60.10	63.01	+ 2.33
Gold Fields* GFI	34959	15.84	14.74	14.83	+ 0.11
Silver Wheatn* SLW	32115	25.56	23.71	25.02	+ 1.13
AngloGold Ash* AU	31103	47.75	43.15	43.61	-0.68

U.S. greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
PolyMet Mng*	PLM	5488	2.10	1.46	2.10	+ 43.8
DouglasLkMl*	DLKM	1635	0.39	0.22	0.38	+ 40.7
Cream Mnrls*	CRMXF	12	0.07	0.07	0.07	+ 40.0
Silver Dragon*	SDRG	1827	0.25	0.17	0.25	+ 38.8
Argentex Mng*	AGXM	1426	0.82	0.59	0.79	+ 38.6
Shoshone Silv*	SHSH	650	0.12	0.10	0.11	+ 37.5
Tara Gold*	TRGD	2523	0.62	0.36	0.49	+ 36.1
Global Gold*	GBGD	113	0.12	0.09	0.12	+ 33.3
Uranium Res*	URRE	7364	1.09	0.75	0.95	+ 28.3
Gold Reserve*	GRZ	731	1.28	0.96	1.26	+ 23.5
Li3 Energy*	LIEG	1063	0.31	0.20	0.21	-32.2
Constittn Mng*	CMIN	6383	0.52	0.35	0.40	-32.2
HuntMountain*	HNTM	16	0.08	0.06	0.06	-25.0
SinoCoking Cl*	SCOK	5154	8.94	7.62	8.01	-21.9
Tri-Valley*	TIV	406	0.67	0.51	0.51	-21.5
Grandview Gld*	GVGDF	57	0.05	0.05	0.05	-16.6
Madison Minls*	MMRSF	13	0.13	0.10	0.10	-16.6
Vista Gold*	VGZ	6385	2.48	2.03	2.05	-15.2
America West*	AWSR	854	0.08	0.04	0.06	-14.2
Radius Gold*	RDUFF	160	0.73	0.61	0.62	-12.6

U.S. greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Randgold Res*	GOLD	3637434	98.17	+ 4.29
Agnico-Eagle*	AEM	12175483	67.68	+ 2.96
AllianceRsP*	ARLP	481948	59.51	+ 2.47
OM Group*	OMG	1488047	29.86	+ 2.45
Freeport McMo*	FCX	43712923	81.72	+ 2.41
Newmont Mng*	NEM	35326376	63.01	+ 2.33
Ivanhoe Mines*	IVN	15116440	20.33	+ 2.33
Royal Gold*	RGLD	3634181	50.41	+ 2.14
Intrepid Pots*	IPI	2303934	26.47	+ 2.04
Pan Am Silver*	PAAS	10327576	28.43	+ 1.91
Cliffs Nat Rs*	CLF	26009313	60.96	-4.57
SinoCoking Cl*	SCOK	5153516	8.01	-2.25
Massey Ener gy*	MEE	20362716	29.94	-1.84
Potash C Sask*	POT	24708140	147.28	-1.56
Patriot Coal*	PCX	4684959	10.89	-0.94
Mechel*	MTL	2521580	23.95	-0.88
Alpha Nat Res*	ANR	8417348	39.35	-0.83
AngloGold Ash*	AU	31102785	43.61	-0.68
North Am En P*	NOA	186675	8.25	-0.61
Puda Coal*	PUDA	77592	7.00	-0.59