Toronto Stock Exchange July 4-10

The S&P-TSX Composite Index managed to recover from an early fall to tack on 41.86 points during the July 4-10 report period, hitting 11,654.73. Investors remained timid ahead of earnings season and an upcoming interest rate decision by the Bank of Canada. The gold index edged 2.14 points higher to 298.42, as the yellow metal regained US$3.05 per oz. to US$626. The diversified miners grabbed 6.05 points to hit 519.16, with all but aluminum finishing higher.

New zinc producer EuroZinc Mining enjoyed brisk trade, finishing as the most-active miner with more than 23.3 million shares advancing 6 to $2.75. Zinc production at the Neves-Corvo copper-zinc mine in Portugal began on July 3. Annual zinc production is forecast at 25,000 tonnes, with 12,500 tonnes expected during the balance of the year.

Falconbridge was next in line, with a handful fewer shares falling a dime to $58.70. Swiss-based Xstrata extended its bid for the company by two weeks until July 21. The all-cash bid was boosted to $59.00 per share subsequent to the period’s end. Most of the remaining merger combatants saw heavy trading: LionOre Mining International rose 44 to $6.50 on volume of 12.5 million shares, and Inco dropped 12 to $73.38 on 8.4 million shares, while Teck Cominco gained $2.89 to $69.87 on about 6.5 million shares. The European Commission recently approved Inco’s planned acquisition of Falco, and Teck’s competing bid for Inco.

Updated capital cost estimates for Equinox Minerals’ Lumwana copper project in Zambia sent shares on a roller coaster ride. Forecast costs are up 39% but include a maximum price guarantee on construction and financing for a mining fleet. The shares recovered from earlier losses to end off a penny at $1.29.

Coalcorp Mining ended unchanged at 72 on an unusually high 13.1 million shares to put in a rare appearance on the most-traded miners’ list. The company has recently seen significant movement in the short position of its shares.

The biggest percentage gain was seen by the warrants of HMZ Metals. The notes gained 50% to 1.5; the company’s common shares rose 18.7% to 9.5. HMZ recently added two members with extensive Chinese business experience and fluency in Mandarin to its advisory board. The company continues with a forensic audit of its Chinese operations. It has also raised $600,000 via a private placement of units.

Entre Gold jumped 25.7% to $1.32. The company owns nearly 1,800 sq. km of land surrounding Ivanhoe Mines’ Oyu Tolgoi copper-gold project in Mongolia. Ivanhoe expects to resume talks with the Mongolian government aimed at securing a tax and infrastructure framework for development of Oyu Tolgoi now that a revised minerals bill has been enacted as law. The project is expected to begin producing in 2008. Ivanhoe slipped 36 to $7.20.

Some impressive gold grades from the Manto zone at the Ketza River project in the Yukon sent shares in YGC Resources 14% higher to $1.14. The drilling is highlighted by an 8.75-metre interval running 81.4 grams gold per tonne.

TSX greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
HMZ Metals wt	HMZ.WT	636	0.02	0.015	0.015	+50.0
Entree Gold	ETG	363	1.34	1.09	1.32	+25.7
Blue Pearl wt	BLE.WT	83	1.82	1.37	1.80	+24.1
HMZ Metals	HMZ	1670	0.13	0.08	0.095	+18.7
Western Copper	WRN	371	1.50	1.11	1.34	+18.5
Sulliden Expl	SUE	953	1.03	0.80	0.99	+16.4
Almaden Mnls	AMM	246	2.85	2.45	2.74	+14.1
YGC Res	YGC	280	1.19	0.95	1.14	+14.0
Wallbridge Mng	WM	134	0.35	0.295	0.35	+12.9
UEX Corp	UEX	2674	3.96	3.40	3.75	+12.9
BrazMin	BZM	161	1.79	1.25	1.25	-28.1
Brazilian Diam	BDY	30	0.26	0.20	0.205	-21.1
Eurasia Gold	EGX	17	1.95	1.65	1.80	-20.0
Far West Mng	FWM	209	4.45	3.25	3.65	-19.0
South Am Gld&C	SAG	773	0.055	0.045	0.045	-18.1
Eastern Pla wt	ELR.WT	54	1.20	0.85	0.99	-15.3
Revett Mnls	RVM	21	1.10	1.05	1.05	-15.3
Apollo Gold	APG	603	0.62	0.50	0.50	-15.2
NEMI Nor En&Mg	NNE.A	279	1.15	0.85	0.94	-14.5
Glencairn G wt	GGG.WT	252	0.35	0.29	0.30	-11.7

TSX greatest value change

		VOLUME	CLOSE	CHANGE
Aber Diamond	ABZ	383664	37.40	+3.19
First Quantum	FM	725509	52.50	+2.46
Newmont Mng	NMC	442616	61.26	+2.10
Alcan	AL	5779765	54.02	+1.73
Centerra Gold	CG	662176	12.75	+1.25
ISh COMEX G Tr	IGT	15512	69.55	+1.01
Agnico-Eag wt*	AEM.WT.U	16480	17.29	+0.94
Barrick Gold	ABX	7958621	33.87	+0.90
Agnico-Eagle	AEM	2189197	37.75	+0.74
Aur Res	AUR	1433086	18.43	+0.63
Silvercorp Mtl	SVM	286120	12.85	-1.55
Meridian Gold	MNG	2232599	34.03	-1.19
Lundin Mng	LUN	96503	31.74	-1.12
Far West Mng	FWM	208756	3.65	-0.86
Greystar Res	GSL	32600	10.30	-0.70
Gold Reserve	GRZ	111154	5.75	-0.66
NovaGold Rs wt	NG.WT	60845	7.99	-0.56
Endeav Mng Cap	EDV	222500	7.33	-0.54
Inmet Mining	IMN	684263	41.20	-0.50
BrazMin	BZM	161200	1.25	-0.49

TSX most active issues

+0.10

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
EuroZinc Mng	EZM	23360	2.96	2.70	2.75	+0.06
Falconbridge	FAL	22421	59.78	57.84	58.70	-0.10
Bema Gold	BGO	21972	6.03	5.55	5.71	+0.14
Equinox Minls	EQN	20111	1.40	1.20	1.29	-0.01
Coalcorp Mng	CCJ	13113	0.76	0.71	0.72	0.00
LionOre Mng In	LIM	12513	6.74	6.10	6.50	+0.44
Kinross Gold	K	9201	12.76	11.94	12.27
Goldcorp	G	9117	35.08	33.02	33.84	+0.19
Inco Ltd	N	8446	74.92	72.00	73.38	-0.12
Barrick Gold	ABX	7959	34.04	32.73	33.87	+0.90