Toronto Stock Exchange May 30-June 5

It was a bearish week for investors, as the TSX composite fell by 5.92 points to 11,699.49 over the May 30-June 5 period. The gold index followed the price of the yellow metal downward, ending off 1% or 2.96 points lower at 297.69. The commodity itself lost US$17.65 on the week as concerns that the U.S. Federal Reserve may continue to strengthen the greenback with higher interest rates stole some of the metal’s lustre.

But it was the diversified miners who took the biggest loss as a group, falling roughly 2% or 10.59 points to 498.64 as the prices of copper, zinc, lead and aluminum all dropped over the session.

Despite the downward trend, a few companies did manage an up-tick. The largest percentage gains were made by Moneta Porcupine Mines, up 21.4% to 18 on no news. The company has projects in the Porcupine and Golden Highway Gold camps of northeastern Ontario.

Formation Capital rebounded from the previous week’s losses, moving up 20%. The company announced last week that it was redesigning its cobalt mine near Salmon, Idaho, so that discharges will not affect streams in the surrounding area.

Other winners during the session were Pacific North West Capital, up 19% to 50, and HMZ Metals, up 18.7% at 9.5.

On the downside, news that the TSX is reviewing Rex Diamond Mining sent the company’s shares down 25% to 12. The TSX says Rex has 120 days to comply with its requirements, but would not divulge what those requirements were. Rex issued no release on the matter.

Other losers on the week were Stornoway Diamond, down 18.1% at $1.31, and Oriel Resources, which dropped 17.3% to close at 60.

In terms of value, Vista Gold was the largest gainer, up $1.41 to $9.86. The Littleton, Colo.-based company is in the business of acquiring gold projects with defined gold resources. It has holdings in Nevada, California, Idaho, Mexico, Bolivia, and Australia.

Saskatoon, Sask.-based Cameco was up $1.23 to $47.93 as uranium prices gained a dollar to US$44 per lb.

Inmet Mining was up $1.14 to $36.00 after announcing an increase in capacity at its La Cruces copper project in Spain to 72,000 tonnes of copper per year from 66,000 tonnes. The company also updated its capital costs to 380 million euros (US$487 million).

Rounding out the session’s biggest movers by value, First Quantum Minerals was down $3.35 to $53.68, while Aber Diamond lost $2.34 to close at $37.58. Goldcorp also suffered with the falling price of gold; The Vancouver-based company was off $1.84 at $33.32.

TSX greatest percentage change

Volume(000s) High Low Close Change
Moneta Porcpn ME 294 0.18 0.15 0.17 +21.4
Formation Cap FCO 1243 0.38 0.29 0.36 +20.0
Pac NW Cap PFN 391 0.50 0.42 0.50 +19.0
HMZ Metals HMZ 600 0.095 0.08 0.095 +18.7
Canadn Gld Hun CGH 82 1.05 0.92 1.05 +17.9
Vista Gold VGZ 51 10.50 9.10 9.86 +16.6
Energem Res ENM 274 1.35 1.02 1.22 +16.1
Intl Nickel Vt NVC 410 1.23 1.04 1.23 +16.0
European Ml wt EPM.WT 220 0.47 0.38 0.45 +15.3
Peru Copper PCR 3213 6.03 4.22 5.80 +13.5
Rex Diamond RXD 147 0.135 0.115 0.12 -25.0
HMZ Metals wt HMZ.WT 100 0.015 0.015 0.015 -25.0
Stornoway Diam SWY 163 1.54 1.20 1.31 -18.1
Oriel Res ORL 26 0.67 0.60 0.62 -17.3
Western Copper WRN 1201 1.55 1.31 1.31 -17.0
Chariot Res wt CHD.WT 465 0.26 0.21 0.21 -16.0
Crescent Gold CRA 114 0.32 0.265 0.27 -15.6
Ascendant Copp ACX 80 0.65 0.55 0.55 -15.3
Caldera Res CDR 888 0.10 0.085 0.085 -15.0
Timminco TIM 29 0.32 0.25 0.30 -14.2

TSX greatest value change

Volume Close Change
Vista Gold VGZ 51273 9.86 +1.41
Cameco Corp CCO 3735062 47.93 +1.23
Meridian Gold MNG 1299353 36.00 +1.14
Inmet Mining IMN 674048 42.00 +0.98
Peru Copper PCR 3213275 5.80 +0.69
Teal Expl & Mg TL 11900 5.19 +0.52
Endeav Mng Cap EDV 319877 7.56 +0.48
Central Gold-T GTU.UN 11474 26.60 +0.45
IAMGold Corp IMG 3114945 10.81 +0.42
Guyana Gldflds GUY 1688137 9.50 +0.42
Lundin Mng LUN 346163 31.65 -4.64
Potash Cp Sask POT 580645 99.12 -3.53
Teck Comin B TEK.SVB 5359905 67.63 -3.45
First Quantum FM 1700969 53.68 -3.35
Aber Diamond ABZ 393070 37.58 -2.34
ISh COMEX G Tr IGT 23107 69.89 -1.86
Goldcorp G 8525503 33.32 -1.84
Major Drilling MDI 387639 26.50 -1.40
NovaGold Res NG 1075444 14.28 -1.31
Tenke Mining TNK 100647 12.85 -1.29

TSX most active issues

Volume(000s) High Low Close Change
Bema Gold BGO 16190 5.99 5.61 5.90 -0.22
Cambior Inc CBJ 9548 3.63 3.29 3.54 -0.02
Coalcorp Mng CCJ 9450 0.90 0.81 0.86 +0.02
EuroZinc Mng EZM 9289 2.82 2.43 2.65 -0.17
Goldcorp G 8526 35.21 32.35 33.32 -1.84
Yamana Gold YRI 7864 11.45 10.59 11.24 -0.53
Breakwater Res BWR 7773 1.42 1.16 1.21 -0.16
Kinross Gold K 7272 12.56 11.63 12.46 +0.10
Eldorado Gold ELD 6966 5.63 5.27 5.49 -0.15
HudBay Minls HBM 6778 14.79 13.07 14.06 -0.57
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