The S&P-TSX Composite Index fell 107.67 points to close the April 25-May 1 report period at 12,234.56. Bank of Canada head David Dodge hinted at further modest interest rate hikes, which helped push the loonie to a 14-year high against the greenback.
The gold index climbed 3.6% to 324.55 points. Silver led the shiny metals, jumping 9% to US$13.92 per oz. on the launch of a silver-backed exchange-traded fund in the U.S. The diversified miners shed 3.62 points to 493.46 as the base metals ended mixed after China raised interest rates to rein in its booming economy.
Junior potash developer Asia Pacific Resources topped the volume board, but ended unchanged at 13.5 on 41 million shares. The high volume is attributed to arbitrage action. The company recently agreed to a 14.25-per-share friendly takeover bid from a subsidiary of Italian-Thai Development based in New Brunswick.
Recently listed Perth-based Crescent Gold more than doubled to 55 after reverse-circulation drilling returned up to 27 metres running 5.4 grams gold and 2 metres of 26.5 grams from the Castaway prospect in Western Australia.
First Silver Reserve jumped $1.30, or 63%, to $3.36 on 2.2 million shares. Venture Exchange-listed First Majestic Resource recently agreed to acquire a 63% stake in the company for $53.4 million. The deal is slated to close by June 2.
Nuinsco Resources made a dime, or 34%, to hit 39 after throwing a $15.5-million lifesaver to drag Campbell Resources out of creditor protection. Nuinsco will take over management of Campbell’s Joe Mann mine, and Copper Rand and Corner Bay copper projects.
Aquiline Resources advanced 81, or 29%, to $3.56. Drilling at the Castro Sur target on the Calcatreu project in Argentina yielded up to 5.3 grams gold and 36.7 grams silver over 12 metres. The company was also reportedly recommended by newsletter writer James Dines. A court ruling over ownership of the large Navidad silver deposit in Argentina is still outstanding.
On the minus side, Zaruma Resources surrendered much of its recent gains to end 4 or 19% cheaper at 17. The shares had jumped on confirmation of a resource estimate of the Luz del Cobre copper deposit in Mexico.
Pacific North West Capital fell 8, or nearly 19%, to 37 after it dropped an option on the Agnew Lake platinum group metal project, near Sudbury, Ont. The move follows Anglo Platinum’s decision to cut exploration funding. The project was under option from Platinum Group Metals, which lost 3 to $2.10.
Cameco fell 73 to $46.52 despite more than quadrupling its earnings to $117 million. The uranium giant warned the pace would not be sustained into the second quarter. Likewise, a forecast of lower second-quarter coking coal prices saw Fording Canadian Coal Trust units slip $2.84 to $41.82, even after its net income more than doubled to $165 million.
TSX greatest percentage change
| Volume(000s) | High | Low | Close | Change | ||
| Crescent Gold | CRA | 2374 | 0.55 | 0.24 | 0.55 | +129.1 |
| First Silver | FSR | 2195 | 3.62 | 2.15 | 3.36 | +63.1 |
| YGC Res | YGC | 745 | 1.90 | 1.30 | 1.80 | +38.4 |
| Nuinsco Res | NWI | 7738 | 0.45 | 0.28 | 0.39 | +34.4 |
| Northgate M wt | NGX.WT | 2588 | 1.82 | 1.34 | 1.70 | +32.8 |
| Aquiline Res | AQI | 1676 | 4.50 | 2.57 | 3.56 | +29.4 |
| Northgate wtA | NGX.WT.A | 932 | 1.78 | 1.32 | 1.70 | +28.7 |
| Rio Narcea wt | RNG.WT | 248 | 0.43 | 0.33 | 0.43 | +28.3 |
| Gabriel Res wt | GBU.WT | 2105 | 1.40 | 1.15 | 1.40 | +27.2 |
| Petaquilla Mnl | PTQ | 1344 | 2.49 | 1.96 | 2.45 | +24.3 |
| Zaruma Res | ZMR | 4129 | 0.195 | 0.165 | 0.165 | -19.5 |
| Pac NW Cap | PFN | 642 | 0.495 | 0.365 | 0.365 | -18.8 |
| Pure Gld Mnr | PUG | 3732 | 0.08 | 0.06 | 0.065 | -18.7 |
| Caldera Res | CDR | 1047 | 0.09 | 0.075 | 0.075 | -16.6 |
| Franc-Or Res | FOR | 250 | 0.31 | 0.26 | 0.26 | -16.1 |
| Freegold Vent | ITF | 654 | 0.56 | 0.46 | 0.48 | -14.2 |
| Canadn Zinc | CZN | 1536 | 1.58 | 1.30 | 1.33 | -13.6 |
| South Am Gld&C | SAG | 4758 | 0.075 | 0.065 | 0.065 | -13.3 |
| Ontex Res | ONT | 44 | 0.205 | 0.20 | 0.20 | -13.0 |
| Contact Diam | CO | 281 | 0.50 | 0.415 | 0.435 | -13.0 |
TSX greatest value change
| Volume | Close | Change | ||
| Goldcorp wt* | G.WT.U | 24858 | 53.75 | +8.53 |
| Goldcorp wt | G.WT | 30396 | 66.52 | +4.57 |
| Glamis Gold | GLG | 5326032 | 43.70 | +2.70 |
| ISh COMEX G Tr | IGT | 56913 | 72.80 | +2.60 |
| Goldcorp | G | 10545313 | 40.11 | +2.52 |
| Potash Cp Sask | POT | 1526068 | 105.60 | +2.42 |
| Western Silver | WTC | 1020925 | 31.65 | +2.12 |
| Central Gold-T | GTU.UN | 56343 | 27.75 | +2.00 |
| Agnico-Eag wt* | AEM.WT.U | 13050 | 19.50 | +1.75 |
| Lundin Mng | LUN | 617883 | 36.25 | +1.75 |
| Teck Comin A | TEK.MVA | 28108 | 79.24 | -5.37 |
| Teck Comin B | TEK.SVB | 9619789 | 78.12 | -3.88 |
| Aber Diamond | ABZ | 919274 | 43.01 | -2.44 |
| Labdr I-Ore Ro | LIF.UN | 379088 | 28.78 | -1.21 |
| Royal Gold | RGL | 12804 | 37.50 | -0.93 |
| Major Drilling | MDI | 366519 | 25.90 | -0.82 |
| Southwstrn Res | SWG | 598656 | 13.95 | -0.80 |
| Cameco Corp | CCO | 5454342 | 46.52 | -0.73 |
| Central Fund | CEF.NVA | 950225 | 10.02 | -0.58 |
| Gold Reserve | GRZ | 499833 | 10.07 | -0.55 |
TSX most active issues
| Volume(000s) | High | Low | Close | Change | ||
| Asia Pac Res | APQ | 40662 | 0.14 | 0.135 | 0.135 | 0.00 |
| EuroZinc Mng | EZM | 34823 | 2.70 | 2.49 | 2.56 | +0.07 |
| Bema Gold | BGO | 27066 | 6.64 | 5.88 | 6.38 | +0.08 |
| Cambior Inc | CBJ | 20738 | 4.71 | 4.19 | 4.47 | -0.13 |
| HudBay Minls | HBM | 20419 | 13.80 | 12.73 | 13.80 | +1.03 |
| Yamana Gold | YRI | 18991 | 12.60 | 11.59 | 12.50 | +0.63 |
| Kinross Gold | K | 15786 | 14.21 | 13.15 | 13.97 | +0.74 |
| Eldorado Gold | ELD | 15096 | 6.07 | 5.62 | 6.02 | +0.17 |
| TVI Pacific | TVI | 13584 | 0.25 | 0.195 | 0.225 | -0.005 |
| Northgate Mnls | NGX | 11697 | 4.66 | 4.13 | 4.61 | +0.44 |
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