Strong contributions from the energy and materials sectors led the TSX Composite Index up 240.19 points to 12,945.96 over the Jan. 23-29 trading period.
A rebound in the price of crude oil and merger-and-acquisition activity boosted the energy sector. Colder weather in high-consumption areas of the U.S. and possible cuts in production by OPEC caused prices to rise.
The yellow metal was up with oil, gaining US$5.75 and finishing the period at US$644.75 per oz. — a move that brought the Global Gold Index up 9.99 points to 315.18.
Indications that demand for copper is increasing in Asia and fears that labour problems in Chile might hit global copper supplies brought copper prices back up for the week. Those gains, combined with rallies in the price of nickel and tin, helped the Capped Metals & Mining Index gain 19.45 points to 631.31.
The adoption of a shareholder’s rights plan had the street wondering about takeover bids for Chariot Resources and it made the company, with assets in Peru, the session’s most popular miner. Nearly 40 million Chariot shares changed hands, pushing the company up 8 to 69 for the period.
Next on the most-active list was Opawica Explorations. The Vancouver-based company was the period’s largest gainer by percentage, up 73% on 30.5 million shares to finish the week at 13. It traded close to 15 million shares on one day alone, after announcing that a backhoe exposed a copper- and gold-bearing 40-ft.-wide trench on a claim that borders Northgate Minerals’ Young-Davidson gold property, near Matachewan, Ont.
The Tiomin Resources saga continued, ensuring high volumes for the Toronto-based junior. It traded close to 29 million shares and rebounded a penny to 14 after announcing that it was going ahead with its mineral sands project in Kenya. The company announced that Vancouver-based ATW Venture could earn up to 50% of its financially troubled Kwale project in Kenya by contributing $35 million to all of Tiomin’s Kenyan projects.
News that shareholders had approved an arrangement that will see Nuinsco Resources hold a 25% interest in newly created Victory Nickel made Nuinsco the second-highest gainer by percentage. Shares in the company were up 45% to $1.46 on trading volume of 16 million shares.
Another big gainer was Wallbridge Mining. It gained 35% to finish the period at 58 after announcing that Xstrata Nickel was paying it close to $900,000 to gain a 50% stake in the Frost Lake platinum group elements-copper property in the eastern range of the Sudbury Igneous Complex.
On the losing side was Gateway Gold, which fell 19% to 65. The Vancouver-based company has been on the decline since announcing results in mid-January from its Gold Dome project, in Nevada. The best interval was 20 ft. grading 2.75 grams gold.
TSX greatest percentage change
| VOLUME | (000s) | HIGH | LOW | CLOSE | CHANGE | |
| Opawica Expl | OPW | 30504 | 0.155 | 0.07 | 0.13 | +73.3 |
| Richview Res | RVR | 10258 | 0.22 | 0.135 | 0.22 | +46.6 |
| Nuinsco Res | NWI | 16181 | 1.46 | 1.02 | 1.46 | +44.5 |
| Thundermin Res | THR | 1499 | 0.13 | 0.09 | 0.115 | +35.2 |
| Wallbridge Mng | WM | 1458 | 0.58 | 0.425 | 0.58 | +34.8 |
| Duluth Metals | DM | 1067 | 1.21 | 0.93 | 1.19 | +29.3 |
| West Timmins M | WTM | 5983 | 0.69 | 0.50 | 0.67 | +28.8 |
| Inter-Citic Mn | ICI | 1057 | 1.30 | 0.96 | 1.25 | +27.5 |
| Moneta Porcpn | ME | 644 | 0.18 | 0.135 | 0.165 | +26.9 |
| Niocan Inc | NIO | 73 | 0.70 | 0.53 | 0.63 | +26.0 |
| HMZ Metals wt | HMZ.WT | 327 | 0.01 | 0.01 | 0.01 | -33.3 |
| Gateway Gold | GTQ | 735 | 0.80 | 0.65 | 0.65 | -18.7 |
| Cross Lake Mnr | CRN | 605 | 0.55 | 0.455 | 0.455 | -17.2 |
| Cline Mng | CMK | 2138 | 0.51 | 0.40 | 0.41 | -16.3 |
| Pure Gld Mnr | PUG | 902 | 0.295 | 0.225 | 0.24 | -14.2 |
| NEMI Nor En&Mg | NNE.A | 4234 | 0.41 | 0.32 | 0.345 | -13.7 |
| Corriente Res | CTQ | 2391 | 3.65 | 2.80 | 3.08 | -13.7 |
| BrazMin | BZM | 37 | 1.17 | 1.08 | 1.08 | -12.9 |
| Aura Gold | ORA | 1958 | 0.80 | 0.67 | 0.70 | -12.5 |
| Intl Nickel Vn | INV | 772 | 2.00 | 1.62 | 1.71 | -12.3 |
TSX greatest value change
| VOLUME | CLOSE | CHANGE | |||
| Potash Cp Sask | POT | 1717649 | 183.25 | + | 0.04 |
| First Quantum | FM | 2390823 | 60.74 | +4.54 | |
| Silver Std Res | SSO | 573305 | 38.92 | +3.80 | |
| Aber Diamond | ABZ | 828598 | 44.04 | +3.21 | |
| Agnico-Eagle | AEM | 4075972 | 46.08 | +3.19 | |
| Pan Am Silver | PAA | 1082417 | 32.82 | +2.92 | |
| Pan Am Silv wt | PAA.WT | 87375 | 21.21 | +2.80 | |
| Teck Comin B | TCK.B | 5813705 | 84.60 | +2.60 | |
| Goldcorp | G | 20367084 | 31.85 | +2.05 | |
| Alcan | AL | 5278404 | 58.20 | +1.99 | |
| Guyana Gldflds | GUY | 672146 | 11.60 | -0.73 | |
| Moto Gold Mine | MGL | 3222646 | 6.90 | -0.60 | |
| Corriente Res | CTQ | 2391114 | 3.08 | -0.49 | |
| Globex Mng | GMX | 42538 | 6.50 | -0.44 | |
| IAMGold Corp | IMG | 18084239 | 9.80 | -0.43 | |
| Dundee Prec Mt | DPM | 206823 | 10.86 | -0.37 | |
| UEX Corp | UEX | 6169880 | 4.78 | -0.37 | |
| Aquiline Res | AQI | 218372 | 7.28 | -0.30 | |
| Teal Expl & Mg | TL | 24075 | 3.95 | -0.30 | |
| YGC Res | YGC | 884830 | 1.95 | -0.27 |
TSX most active issues
| VOLUME | HIGH | LOW | CLOSE | CHANGE | ||
| Chariot Res | CHD | 39368 | 0.73 | 0.62 | 0.69 | +0.08 |
| Opawica Expl | OPW | 30504 | 0.155 | 0.07 | 0.13 | +0.055 |
| Tiomin Res | TIO | 28850 | 0.195 | 0.125 | 0.14 | +0.015 |
| Coalcorp Mng | CCJ | 26334 | 0.73 | 0.62 | 0.65 | +0.03 |
| Bema Gold | BGO | 26212 | 6.95 | 6.52 | 6.78 | +0.31 |
| Kinross Gold | K | 21308 | 15.73 | 14.71 | 15.40 | +0.82 |
| Goldcorp | G | 20367 | 33.17 | 30.51 | 31.85 | +2.05 |
| Campbell Res | CCH | 19078 | 0.135 | 0.095 | 0.125 | +0.02 |
| Eldorado Gold | ELD | 18456 | 6.84 | 6.42 | 6.44 | -0.00 |
| IAMGold Corp | IMG | 18084 | 10.57 | 9.79 | 9.80 | -0.43 |
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