U.S. Markets August 22-28

With consumer confidence falling to 9-month lows and summer winding to a close, trading activity on U.S. markets was relatively flat over the report period Aug. 22-28. The Standard & Poor’s 500 Index eked out a gain of 4.26 points to close at 1,301.78, with many resource stocks under downward pressure over the session.

Goldspring was the most active trader, albeit in below-penny-stock territory. The only news released by the company of late seems more focused on a legal battle with former insiders than with progress at the Plum gold project near Reno, Nev.

Among the senior players, Brazil’s Companhia Vale do Rio Doce (CVRD) lost US98 to close at US$21.28 after being rebuffed by Inco, which has urged its shareholders to support a merger with its partner of choice, Phelps Dodge. Not all shareholders of Phelps Dodge favour the multibillion-dollar deal, and the stock took an even bigger hit than CVRD and lost US$3.34 to US$87.82.

Precious metals companies enjoyed a good run over the past year, with some rain on that parade over the recent session. Gold and silver producer Coeur d’Alene Mines shed US30 to US$5.07. It doesn’t help that environmental groups are lobbying hard to stop construction of the company’s Kensington gold mine north of Juneau, Alaska.

On the gold front, senior producer Barrick Gold lost US43 to US$32.57, while rival Newmont Mining shed US$1.16 to close at US$51.39. Goldcorp also came under pressure and was off US76 to US$29.72.

The largest value gainer was Anglo American Platinum, which posted a hefty gain of US$7.50 to US$118.50. The company reported a 117% gain in net earnings for its latest quarter ended June 30, and record earnings for its 2006 first half. The improved performance was attributed to “ongoing robust demand” for platinum group metals at current prices. The company aims to produce between 2.7-2.8 million oz. of refined platinum this year.

OM Group was ahead US$1.06 to US$40.04 over the session, reflecting investor interest in the company’s unique position in the metals industry. OM Group is the world’s largest producer of cobalt-based specialty chemicals and a leading producer of nickel-based chemicals.

U.S. greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Lafayette Mng*	LYMGF	88	0.07	0.07	0.07	+75.0
Madison Minls*	MMRSF	296	0.52	0.35	0.51	+42.0
Colombia Gldf*	CGDF	293	1.41	1.05	1.40	+33.3
Newgold*	NGLD	545	0.40	0.33	0.40	+28.2
Commerce Grp*	CGCO	46	0.11	0.09	0.10	+25.0
New Jersey Mg*	NJMC	140	0.70	0.51	0.65	+25.0
Shoshone Silv*	SHSH	128	0.29	0.20	0.255	+15.9
Corriente Rs*	ETQ	248	4.90	4.05	4.90	+13.9
Samex Mng*	SMXMF	495	1.003	0.855	0.96	+13.0
Geocom Res*	GOCM	197	0.29	0.20	0.28	+12.0
McKenzie Bay*	MKBY	660	0.17	0.091	0.138	-18.8
Michigan Gold*	MGGV	859	0.032	0.025	0.026	-13.3
Cusac Gold Mn*	CUSIF	475	0.26	0.225	0.226	-13.0
Trend Mng*	TRDM	770	0.13	0.10	0.105	-12.5
Entree Gold*	EGI	45	1.22	1.08	1.10	-12.0
Equitable Mng*	EQBM	5979	0.01	0.008	0.009	-10.0
Apolo Gold*	APLL	334	0.094	0.081	0.081	-10.0
Gold Reserve*	GRZ	248	4.76	4.33	4.33	-9.2
Stillwater Mg*	SWC	2094	10.02	9.03	9.05	-8.9
Little Squaw*	LITS	187	1.67	1.15	1.55	-8.8

U.S. greatest value change

		VOLUME	CLOSE	CHANGE
Anglo Am Plat*	AGPPY	10562	118.50	+7.50
OM Group*	OMG	2346300	40.04	+1.06
Vista Gold*	VGZ	449000	12.53	+0.82
Corriente Rs*	ETQ	247500	4.90	+0.60
Cabot Corp*	CBT	1226200	32.14	+0.44
Fronteer Dev*	FRG	1304600	5.64	+0.41
Fording C C T*	FDG	1684000	30.73	+0.38
Colombia Gldf*	CGDF	292532	1.40	+0.35
Solitario Res*	XPL	17700	3.22	+0.22
Rio Narcea Gd*	RNO	905000	2.52	+0.17
Rio Tinto*	RTP	879500	200.43	-9.48
Teck Comin B*	TCK	260000	68.38	-4.31
AngloGold Ash*	AU	2719900	46.38	-3.70
Phelps Dodge*	PD	10737400	87.82	-3.34
Peabody Enrgy*	BTU	9926300	45.19	-2.79
Foundatn Coal*	FCL	2232400	36.65	-2.61
Arch Coal*	ACI	6782800	34.26	-2.29
Buenaventura*	BVN	2206500	26.92	-2.25
Agnico-Eagle*	AEM	3612900	35.23	-2.03
BHP Billi-BBL*	BBL	292100	38.16	-2.00

U.S. most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Goldspring*	GSPG	48100	0.007	0.005	0.006	0.00
CVRD*	RIO	30442	22.35	20.49	21.28	-0.98
Newmont Mng*	NEM	14276	53.55	51.29	51.39	-1.16
Alcoa*	AA	13685	29.29	28.61	28.85	+0.08
Silverado*	SLGLF	12995	0.595	0.057	0.061	+0.001
Barrick Gold*	ABX	10875	34.09	32.41	32.57	-0.43
Phelps Dodge*	PD	10737	91.67	86.71	87.82	-3.34
Peabody Enrgy*	BTU	9926	48.20	44.90	45.19	-2.79
Coeur d Alene*	CDE	9217	5.58	5.04	5.07	-0.30
Goldcorp*	GG	8740	31.15	29.64	29.72	-0.76