Toronto Stock Exchange August 8-14

The TSX finished the Aug. 8-14 period down 86.52 points to 11,850.16 with falling metal and oil prices labelled the main culprit.

The gold index tracked the price of gold, falling 4.6% or 13.82 points to 298.99. The price of gold was down 4% for the period as a ceasefire between Hezbollah and Israeli forces took hold, effectively taking away the safe-haven momentum, which analysts say has been driving the price of the yellow metal up.

The diversified miners followed the downward trend, if only to a lesser extent, falling 3 points to 569.93. The price of copper, zinc, silver and platinum all fell for the period, while nickel managed to make a 5% gain to US$13.24 per lb.

Vancouver-based EuroZinc Mining was the most actively traded mining company on the exchange. The owner of copper and zinc assets in Portugal, EuroZinc reported second-quarter financials that showed a three-fold increase in earnings — to 14 per share from 4 per share for the same period last year.

Bema Gold’s shares were the next most popular on the announcement of second-quarter financial results and drilling results from its 75%-owned Kupol project in Russia. Second-quarter financials were highlighted by record quarterly revenue and record mine operating cash flows. Highlights from Kupol included an intercept of 6.3 metres grading 50.62 grams gold per tonne gold and 1,701.3 grams silver per tonne.

The Falconbridge and Inco saga kept the two miners near the top of the most-active list. Xstrata now owns 92.1% of Falconbridge after nearly 258 million shares were tendered to its offer. The Swiss miner has extended its bid until Aug. 25, and will thereafter compulsorily acquire any shares still outstanding. Xstrata says it has already begun integration of the two businesses.

As for Inco, the company says it remains committed to its planned union with U.S.-based copper miner Phelps Dodge, but would be open to talks with Companhia Vale do Rio Doce. Inco says the Brazilian diversified miner’s recent all-cash bid of $86.00 per share could ultimately lead to a superior offer to Phelps cash-and-scrip offer.

Blue Pearl Mining showed the biggest percentage gain for the period — swelling 33.8% to $2.43 on no news. The company’s Davidson project in B.C. has measured and indicated resources of 588 million lbs. molybdenum.

Lead-producer Ivernia suffered the biggest percentage decline in share price for the period. The Toronto-based company reported a net loss of $3.8 million and a 24% decline in revenue for the second quarter, compared with the previous quarter. The company blamed weaker lead prices for the decline as well as lower volumes of lead concentrates shipped. Ivernia shares were off roughly 21% for the period, and were trading at $1.21 at presstime.

Aber Diamond was one of the biggest gainers by value for the period. The company, which has a joint venture with Rio Tinto for the Diavik mine, was up $3.55 to $40.32 for the period. Aber projects an increase in this year’s production to roughly 11 million carats — a 3 million carat increase over last year’s 8 million carat production.

TSX greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Blue Pearl wt	BLE.WT	117	2.43	1.67	2.41	+33.8
Blue Pearl Mng	BLE	1791	3.11	2.35	3.09	+23.6
Gitennes Expl	GIT	135	0.33	0.26	0.32	+20.7
Yorbeau Res A	YRB.A	216	0.36	0.265	0.36	+20.0
Imperial Metal	III	435	11.43	9.65	11.39	+18.6
Brazilian Diam	BDY	382	0.245	0.20	0.245	+16.6
Moydow Mns Int	MOY	31	0.27	0.23	0.27	+14.8
Frontera Cp wt	FCC.WT	194	2.00	1.65	1.86	+12.7
BrazMin	BZM	135	1.35	1.09	1.32	+10.9
UEX Corp	UEX	1425	3.76	3.25	3.68	+10.8
Ivernia	IVW	886	1.67	1.27	1.34	-20.7
Taseko Mines	TKO	5006	3.22	2.45	2.45	-20.4
Northgate M wt	NGX.WT	799	1.52	1.13	1.20	-20.0
Northgate wtA	NGX.WT.A	187	1.51	1.15	1.24	-18.9
Glencairn G wt	GGG.WT	178	0.34	0.28	0.28	-16.4
Alamos Gold	AGI	3228	10.10	8.00	8.37	-16.1
Nevsun Res Wt	NSU.WT	20	1.60	1.26	1.27	-15.3
Zaruma Res	ZMR	835	0.14	0.115	0.115	-14.8
Pine Valley Mg	PVM	85	1.05	0.89	0.90	-14.2
Jaguar Nickel	JNI	1477	0.29	0.24	0.24	-14.2

TSX greatest value change

		VOLUME	CLOSE	CHANGE
Potash Cp Sask	POT	1095574	108.50	+3.59
First Quantum	FM	1641758	55.85	+3.55
Aber Diamond	ABZ	980868	40.32	+3.52
Imperial Metal	III	435268	11.39	+1.79
Vista Gold	VGZ	85905	12.50	+1.09
Fording C C T	FDG.UN	1397164	33.40	+0.96
Blue Pearl wt	BLE.WT	116500	2.41	+0.61
Blue Pearl Mng	BLE	1791450	3.09	+0.59
Anvil Mining	AVM	671843	8.85	+0.53
Skye Res	SKR	269906	11.88	+0.43
Agnico-Eagle	AEM	2683543	39.14	-2.47
ISh COMEX G Tr	IGT	18875	70.50	-2.19
Glamis Gold	GLG	3754791	40.00	-2.16
Teck Comin B	TCK.B	13882325	79.00	-2.15
Gammon Lk Res	GAM	1443124	14.43	-2.07
Agnico-Eag wt*	AEM.WT.U	48775	18.10	-1.90
Alcan	AL	7039713	51.40	-1.65
Newmont Mng	NMC	268940	57.37	-1.62
Alamos Gold	AGI	3228137	8.37	-1.61
Barrick Gold	ABX	12857167	34.35	-1.58

TSX most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
EuroZinc Mng	EZM	29164	3.21	2.92	3.16	+0.06
Bema Gold	BGO	27125	6.57	5.95	5.98	-0.45
Inco Ltd	N	25677	89.25	83.25	88.80	-0.42
Falconbridge	FAL	19802	62.44	62.20	62.37	+0.13
Kinross Gold	K	17002	14.56	13.46	13.79	+0.20
Breakwater Res	BWR	14384	1.40	1.22	1.30	+0.06
Teck Comin B	TCK.B	13882	81.04	72.42	79.00	-2.15
Barrick Gold	ABX	12857	36.96	34.30	34.35	-1.58
Eastern Platin	ELR	12099	1.40	1.20	1.25	-0.05
HudBay Minls	HBM	10837	17.05	14.84	15.10	-1.49