With investors’ heads swimming with visions of double-doubles and Timbits, the S&P-TSX Composite Index eased back from a record high to end the March 21-27 report period 149.2 points better at 12,078.52. The base and shiny metals all enjoyed robust gains, pushing the gold index 5% higher to 288.06, while their diversified brethren advanced 4.7% to 459.72.
Tahera Diamond was the most traded miner, with more than 35.1 million shares clawing back 7 to hit 71. Diamond processing and production at the company’s Jericho mine should remain unaffected for the next 10 months despite the early closure of a seasonal ice road used to supply Arctic projects.
Likewise, mining at Aber Diamond’s 40%-owned Diavik mine should avoid suspension as the company shipped about 11 months worth of fuel to Diavik before the closure. Aber regained $2.78 to $47.53 in thinner action.
Eldorado Gold finished a distant second to Tahera, volume-wise, with just short of 23 million, recovering earlier losses to finish up a quarter at $5.30. Eldorado’s loss more than tripled to US$49.1 million in 2005.
A recently inked deal that will see state-owned Zambia Consolidated Copper Mines buy some US$30 million worth of shares sent Equinox Minerals 25 higher to $1.60. The funds will go toward development of the Lumwana copper project in Zambia.
Crystallex International rocketed $1.02, or 30%, to $4.43, after Venezuela’s Ministry of Basic Industry and Mining approved the company’s feasibility study for the Las Cristinas gold project in Bolivar state. The project still requires a final environmental permit before construction can begin.
Also soaring was Aquiline Resources, which jumped 73, or 32%, to $3.00. The company was recently issued 625,000 units of Columbia Metals in a settlement of ownership issues at the La Jojoba property in Mexico. Columbia subsequently acquired the property outright for US$1.5 million. A court ruling over ownership of the large Navidad silver deposit in Argentina, currently held by Venture exchange-listed IMA Exploration, is expected by quarter’s end.
Other nice percentage gainers were: Golden Star Resources’ warrants, which rose 43% to 80; Cusac Gold’s common shares, which climbed 35% to 31; Golden Queen Mining, up 27% to 84; and Rubicon Minerals, which tacked on 26% to hit $1.66.
Golden Star recently sold its 6 million shares in Moto for $45 million. The company’s annual report will be filed late, as it needs more time to analyze some derivative contracts. Cusac plans to raise up to $6 million to resume gold production at the Table Mountain mine in B.C. Golden Queen delivered a National Instrument 43-101-compliant technical report for its Soledad Mountain project in southern California. Measured and indicated resources total 90.5 million tonnes averaging 0.74 gram gold and 13 grams silver per tonne.
TSX greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Ascendant C wt | ACX.WT | 18 | 0.20 | 0.18 | 0.20 | +81.8 |
| Golden Str wtA | GSC.WT.A | 168 | 0.81 | 0.55 | 0.80 | +42.8 |
| Band-Ore Res | BAN | 1050 | 0.39 | 0.265 | 0.38 | +35.7 |
| Cusac Gold | CQC | 3417 | 0.33 | 0.21 | 0.31 | +34.7 |
| Aquiline Res | AQI | 523 | 3.25 | 2.16 | 3.00 | +32.1 |
| Crystallex Int | KRY | 10479 | 5.10 | 3.36 | 4.43 | +29.9 |
| Agnico-Eag wt* | AEM.WT.U | 36 | 12.40 | 9.40 | 12.30 | +28.1 |
| Golden Queen | GQM | 527 | 0.88 | 0.62 | 0.84 | +27.2 |
| Franc-Or Res | FOR | 278 | 0.24 | 0.19 | 0.24 | +26.3 |
| Rubicon Mnrls | RMX | 2300 | 1.66 | 1.22 | 1.66 | +25.7 |
| HMZ Metals | HMZ | 6406 | 0.17 | 0.07 | 0.10 | -44.4 |
| Vaaldiam Res | VAA | 1100 | 1.35 | 1.18 | 1.20 | -34.7 |
| HMZ Metals wt | HMZ.WT | 1291 | 0.04 | 0.01 | 0.025 | -16.6 |
| WGI Heavy Mnl | WG | 11 | 1.37 | 1.20 | 1.20 | -14.2 |
| Yorbeau Res A | YRB.A | 120 | 0.46 | 0.38 | 0.39 | -13.3 |
| Candente Res | DNT | 1135 | 1.02 | 0.82 | 0.90 | -12.6 |
| Thundermin Res | THR | 338 | 0.12 | 0.105 | 0.11 | -12.0 |
| Pine Valley Mg | PVM | 781 | 1.86 | 1.52 | 1.53 | -10.0 |
| First Nickel | FNI | 1686 | 1.21 | 1.07 | 1.10 | -9.0 |
| Sulliden Expl | SUE | 563 | 0.66 | 0.58 | 0.61 | -8.9 |
TSX greatest value change
| VOLUME | CLOSE | CHANGE | ||
| Royal Gold | RGL | 36821 | 40.11 | +7.06 |
| Goldcorp wt | G.WT | 63950 | 51.58 | +6.58 |
| First Quantum | FM | 1682376 | 45.00 | +6.15 |
| Meridian Gold | MNG | 1757343 | 34.00 | +4.30 |
| Pan Am Silver | PAA | 1394279 | 30.86 | +3.74 |
| Glamis Gold | GLG | 4419375 | 35.58 | +3.57 |
| Major Drilling | MDI | 536280 | 27.60 | +3.40 |
| Inco Ltd | N | 6170950 | 57.62 | +3.36 |
| Inco wt | N.WT | 55352 | 27.85 | +3.35 |
| Goldcorp wt* | G.WT.U | 34700 | 35.01 | +3.01 |
| Potash Cp Sask | POT | 1321135 | 95.54 | -4.47 |
| Vaaldiam Res | VAA | 1099707 | 1.20 | -0.64 |
| Shore Gold | SGF | 3747508 | 6.90 | -0.35 |
| Peru Copper | PCR | 1153617 | 3.32 | -0.31 |
| Linear Gold | LRR | 540001 | 6.14 | -0.26 |
| Globex Mng | GMX | 178382 | 5.09 | -0.21 |
| WGI Heavy Mnl | WG | 11200 | 1.20 | -0.20 |
| Pine Valley Mg | PVM | 780840 | 1.53 | -0.17 |
| Sherritt Intl | S | 1966918 | 10.70 | -0.15 |
| Candente Res | DNT | 1135083 | 0.90 | -0.13 |
TSX most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Tahera Diam | TAH | 35106 | 0.73 | 0.60 | 0.71 | +0.07 |
| Eldorado Gold | ELD | 22896 | 5.33 | 4.55 | 5.30 | +0.30 |
| Equinox Minls | EQN | 21936 | 1.70 | 1.33 | 1.60 | +0.25 |
| EuroZinc Mng | EZM | 21332 | 2.10 | 1.85 | 2.05 | +0.19 |
| Bema Gold | BGO | 20240 | 5.25 | 4.87 | 5.24 | +0.08 |
| Breakwater Res | BWR | 19143 | 1.43 | 1.20 | 1.38 | +0.16 |
| Chariot Res | CHD | 17694 | 0.41 | 0.37 | 0.385 | -0.01 |
| Asia Pac Res | APQ | 15932 | 0.14 | 0.125 | 0.135 | +0.01 |
| Ur-Energy | URE | 15563 | 2.17 | 1.80 | 2.09 | +0.20 |
| Barrick Gold | ABX | 14804 | 31.20 | 29.76 | 30.96 | +0.01 |
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