While the TSX Composite Index fell slightly over the Apr. 8-14 trading period, stronger commodity prices had it moving in the right direction. The large number of resourcerelated companies listed on the exchange has helped it skirt the pullback hitting other global indexes. Overall, the index was off roughly 7 points to 13,738.6.
With the price of gold finishing the session where it began — at US$926.50 per oz. — the Global Gold Index lost some ground, shedding roughly 4 points to finish at 335.93. Silver prices also fell to US$17.45 per oz. from US$17.96, while platinum came down to US$1,955.00 per oz. from US$2,034, leaving palladium the only gainer in the precious metal group as it climbed to US$456 per oz. from US$453.
Despite platinum’s slight fall, Eastern Platinum remained the most actively traded miner with 41 million shares changing hands. It gained 6 to finish the period at $3.09.
The top three was rounded out by Yamana Gold, with 34 million shares traded and a $14.43 closing price, and Uranium One with 29 million shares traded and a closing price of $4.24 — up 43.
Increased activity in Uranium One shares came with news that China National Nuclear was looking to forge partnerships with or make acquisitions of Canadian uranium min-ing companies. The news also bolstered Cameco shares as they climbed $2.12 to finish at $37.20 apiece.
The Capped Mining and Metals Index had a rough period as well, dropping to 846.88 from 854.95 as the price of copper and zinc fell. Aluminum, nickel and lead, however, made marginal gains.
Moly Mines made the largest percentage gain for the week as its shares jumped 61% to $2.92. The company announced a more than 100% increase in resources at its Spinifex Ridge molybdenum-copper project in Australia. Measured and indicated resources stand at 658 million tonnes grading 0.045% molybdenum, 0.08% copper and 1.3 grams silver per tonne and inferred resources at 390 million tonnes averaging 0.04% molybdenum, 0.07% copper and 1.2 grams silver.
Teck Cominco’s move to lock up more copper deposits via a $394.3-million acquisition of Global Copper drew attention to both companies. Teck shares were heavily traded but lost 80 to finish at $45.70 on 15 million shares traded, while Global Copper shares shot up 45% to finish at $13.91 apiece.
Teck is most interested in Global Copper’s Relincho copper and molybdenum deposit in Chile and says it will spin off the company’s other copper deposits.
Word that the Nunatsiavut government voted to implement a three-year moratorium on uranium mining on Labrador Inuit Lands hit Aurora Energy Resources. The company’s shares lost 25% to finish the period at $3.95. Exploration, however, is still being allowed in the area and Aurora says it plans to continue drilling and will proceed with a prefeasibility study on its Michelin uranium project. Aurora is 42% owned by Fronteer Development Group.
| TSX most active issues | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Eastern Platin | ELR | 41301 | 3.27 | 2.80 | 3.09 | + 0.06 |
| Yamana Gold | YRI | 34090 | 15.00 | 14.20 | 14.43 | -0.31 |
| Uranium One | UUU | 29381 | 4.48 | 3.75 | 4.24 | + 0.43 |
| Barrick Gold | ABX | 18919 | 45.70 | 42.90 | 43.85 | -0.84 |
| Teck Comin B | TCKB | 15379 | 48.30 | 45.26 | 45.70 | -0.80 |
| KinrossGold | K | 13128 | 24.28 | 23.00 | 23.26 | -0.40 |
| Paladin Energy | PDN | 11731 | 4.82 | 4.05 | 4.09 | -0.71 |
| Equinox Minls | EQN | 11657 | 4.94 | 4.57 | 4.66 | -0.24 |
| Goldcorp | G | 11466 | 41.75 | 39.73 | 40.81 | -0.14 |
| Lundin Mng | LUN | 10747 | 8.03 | 7.34 | 7.37 | -0.51 |
| TSX greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Moly Mines | MOL | 7385 | 3.12 | 1.90 | 2.92 | + 61.3 |
| Global Copper | GLQ | 4843 | 13.98 | 9.30 | 13.91 | + 44.9 |
| TVI Pacific | TVI | 7173 | 0.07 | 0.05 | 0.065 | + 44.4 |
| Arehada Mining | AHD | 1294 | 0.29 | 0.20 | 0.275 | + 37.5 |
| Atlanta Gold | ATG | 576 | 0.99 | 0.60 | 0.83 | + 36.0 |
| Energem Res | ENM | 131 | 0.30 | 0.165 | 0.22 | + 33.3 |
| Western Areas | WSA | 18 | 7.00 | 6.10 | 7.00 | + 33.3 |
| Thundermin Res | THR | 562 | 0.24 | 0.17 | 0.23 | + 21.0 |
| Linear Metals | LRM | 143 | 1.03 | 0.80 | 0.95 | + 18.7 |
| Pac NW Cap | PFN | 575 | 0.375 | 0.295 | 0.375 | + 17.1 |
| Ascendant C wt | ACX_T | 251 | 0.02 | 0.01 | 0.01 | -50.0 |
| Aurora Energy | AXU | 8355 | 5.20 | 3.26 | 3.95 | -25.0 |
| European Ml wt | EPM_T | 17 | 0.27 | 0.21 | 0.21 | -22.2 |
| Bannerman Res | BAN | 411 | 1.75 | 1.35 | 1.40 | -20.9 |
| Franc-Or Res | FOR | 438 | 0.125 | 0.10 | 0.10 | -20.0 |
| Petaquilla Cop | PTC | 1086 | 1.58 | 1.25 | 1.30 | -17.7 |
| Australn Solom | SGA | 31 | 0.60 | 0.44 | 0.495 | -17.5 |
| Goldstake Exp | GXP | 224 | 0.12 | 0.095 | 0.095 | -17.3 |
| North Am Pall | PDL | 600 | 6.68 | 5.44 | 5.45 | -17.1 |
| Lydian Intl | LYD | 177 | 0.55 | 0.46 | 0.46 | -14.8 |
| TSX greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| Potash Cp Sask | POT | 6804292 | 185.35 | + 9.70 |
| Agrium | AGU | 7184726 | 78.09 | + 7.44 |
| Global Copper | GLQ | 4842734 | 13.91 | + 4.31 |
| Fording C C T | FDG_U | 4674945 | 63.60 | + 2.34 |
| Cameco Corp | CCO | 9216775 | 37.20 | + 2.12 |
| First Quantum | FM | 1604936 | 90.32 | + 1.78 |
| Western Areas | WSA | 17800 | 7.00 | + 1.75 |
| Agnico-Eagle | AEM | 2626933 | 71.57 | + 1.65 |
| Central Gold-T | GTU_U | 13066 | 36.79 | + 1.48 |
| Quadra Mng | QUA | 4062606 | 22.96 | + 1.41 |
| Major Drilling | MDI | 351266 | 52.21 | -2.16 |
| Silver Std Res | SSO | 538889 | 30.05 | -1.61 |
| FNX Mining | FNX | 2759330 | 28.20 | -1.48 |
| Aurora Energy | AXU | 8355220 | 3.95 | -1.32 |
| Altius Mnrls | ALS | 523172 | 13.00 | -1.22 |
| Newmont Mng | NMC | 196871 | 46.12 | -1.22 |
| North Am Pall | PDL | 599907 | 5.45 | -1.13 |
| Aquiline Res | AQI | 564744 | 8.19 | -1.00 |
| Uranium Partic | U | 6117777 | 8.30 | -0.96 |
| Teck Comin A | TCKA | 11043 | 50.55 | -0.95 |
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