Although the TSX Composite Index had its worst January since 1990, falling 4.9% over the month, Canada’s benchmark index started February off on a better note.
The index rose 2% over the Jan. 29-Feb. 4 trading period, finishing 271.26 points higher at 13,258.16.
The Capped Metals and Mining Index, also stronger, jumped 9%, or 65.12 points, to 760.13 points.
But the Global Gold Index fell more than 7%, or 26.8 points, to 336.6 as the price of gold fell 3%, or US$28 per oz., to US$893.75 per oz.
The big gold companies felt it — Newmont Mining saw the greatest loss over the period, falling $4.82 per share to $50.65, followed by Barrick Gold, down $44.71 to $49.06. Agnico- Eagle Mines shares slid $3.64 to $59.98 and Goldcorp stock was off $3.25 at $28.41.
Breakwater Resources was the most actively traded stock over the period, up 26 to $1.53 on volume of nearly 44 million shares.
Platinum, up US$245 since Jan. 1, continued its steep ascent, climbing US$93 per oz. to US$1,786 per oz. over the period. That kept Eastern Platinum on investors’ radars, as the second most active stock for the week rose 21 to $3.12 per share on 36 million shares traded.
Third in line was Yamana Gold, with its shares $1.41 higher at $15.05 each on 34 million shares traded. Silver Wheaton, which saw almost 33 million shares traded, fell $1.41 over the session to $15.01, after Goldcorp sold its entire 48% stake in the company for $1.57 billion — or 108 million shares at $14.50 apiece.
First Quantum Minerals shares saw the highest value change over the period, up $6.32 to $79.62. Earlier in the month, the company forecast that 2008 copper production would rise to 310,000 tonnes.
Next was Fording Canadian Coal Trust shares, up $5.25 to $48.35, followed by Inmet Mining shares, which gained $5.17 to close at $74.22.
Caledonia Mining saw the biggest increase on a percentage basis; the stock was up 90% — though only to 19 each — on a trading volume of almost 32 million. The com-
pany signed a cobalt offtake agreement with a Chinese refiner, locking in a minimum of 21,000 tonnes of cobalt hydroxide from its Nama project, in northern Zambia, over the next six years.
Cline Mining shares climbed 50% on no news to 28.5 each, while Extract Resources saw its stock pushed up 50% on some good intersections from its Husab uranium project in Namibia. The company cut 125 metres grading
0.134% U3O8 and 31 metres grading 4.46% U3O8 from its Garnet Valley deposit.
Ascendant Copper shares have continued to fall, down 29% to 12 over the period, as the company deals with the loss of its Junin property in Ecuador. The government revoked Ascendant’s concessions along with hundreds of others on Jan. 25 as it works to change mining laws and acquire greater control over the industry.
TSX most active issues | ||||||
VOLUME | WEEK | |||||
( 000s) | HIGH | LOW | CLOSE | CHANGE | ||
Breakwater Res | BWR | 43628 | 1.56 | 1.29 | 1.53 | + 0.26 |
Eastern Platin | ELR | 36116 | 3.21 | 2.80 | 3.12 | + 0.21 |
Yamana Gold | YRI | 34425 | 17.02 | 15.04 | 15.05 | – 1.41 |
Silver Wheaton | SLW | 32502 | 16.67 | 14.85 | 15.01 | – 1.88 |
Caledonia Mng | CAL | 31592 | 0.22 | 0.11 | 0.19 | + 0.09 |
Kinross Gold | K | 27120 | 22.81 | 21.15 | 21.37 | – 1.20 |
Uranium One | UUU | 26048 | 7.59 | 6.81 | 7.21 | + 0.13 |
Barrick Gold | ABX | 24635 | 53.85 | 48.35 | 49.06 | – 4.71 |
Teck Comin B | TCKB | 24627 | 37.82 | 32.28 | 36.81 | + 4.02 |
Paladin Energy | PDN | 24623 | 4.75 | 3.88 | 4.62 | + 0.15 |
TSX greatest percentage change | ||||||
VOLUME | WEEK | |||||
( 000s) | HIGH | LOW | CLOSE | CHANGE | ||
Caledonia Mng | CAL | 31592 | 0.22 | 0.11 | 0.19 | + 90.0 |
Cline Mng | CMK | 628 | 0.285 | 0.175 | 0.285 | + 50.0 |
Extract Res | EXT | 44 | 1.20 | 1.15 | 1.20 | + 50.0 |
Sulliden Expl | SUE | 1275 | 0.45 | 0.28 | 0.40 | + 48.1 |
Stornoway Diam | SWY | 4108 | 0.75 | 0.54 | 0.71 | + 42.0 |
Western Areas | WSA | 15 | 5.19 | 3.70 | 5.00 | + 35.1 |
Coalcorp Mng | CCJ | 17724 | 2.70 | 1.71 | 2.45 | + 34.6 |
Grande Cache C | GCE | 7370 | 2.15 | 1.51 | 2.14 | + 27.3 |
Sprott Res | SCP | 1173 | 2.35 | 1.65 | 2.18 | + 26.7 |
Erdene Gold | ERD | 311 | 1.10 | 0.80 | 0.97 | + 24.3 |
New Gold wt | NGD_ T | 152 | 0.12 | 0.04 | 0.06 | – 50.0 |
Ascendant Copp | ACX | 1460 | 0.175 | 0.12 | 0.12 | – 29.4 |
North Atlc Res | NAC | 174 | 0.475 | 0.365 | 0.365 | – 23.1 |
Euro Res | EUR | 10 | 1.30 | 1.05 | 1.18 | – 21.3 |
Yukon Gold | YK | 492 | 0.355 | 0.21 | 0.24 | – 20.0 |
IAMGold Corp | IMG | 15473 | 9.52 | 7.59 | 7.69 | – 19.3 |
StrataGold | SGV | 1002 | 0.18 | 0.14 | 0.15 | – 16.6 |
Skye Res | SKR | 3703 | 6.55 | 3.85 | 5.45 | – 16.4 |
Bannerman Res | BAN | 140 | 3.00 | 2.15 | 2.15 | – 15.6 |
European Ml wt | EPM_ T | 21 | 0.58 | 0.50 | 0.50 | – 15.2 |
TSX greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
First Quantum | FM | 2608555 | 79.62 | + 6.32 |
Fording C C T | FDG_ U | 5496721 | 48.35 | + 5.25 |
Inmet Mining | IMN | 2318477 | 74.22 | + 5.17 |
Teck Comin A | TCKA | 12749 | 44. 00 |
+ 4.78 |
Teck Comin B | TCKB | 24627311 | 36.81 | + 4.02 |
Potash Cp Sask | POT | 8848034 | 144.15 | + 3.95 |
Quadra Mng | QUA | 2352694 | 20.12 | + 2.61 |
FNX Mining | FNX | 2757983 | 27.54 | + 2.46 |
Timminco | TIM | 13386578 | 15.27 | + 1.88 |
Thompson Creek | TCM | 5946619 | 16.73 | + 1.69 |
Newmont Mng | NMC | 232740 | 50.65 | – 4.82 |
Barrick Gold | ABX | 24635351 | 49.06 | – 4.71 |
Horizns G Bull | HGU | 2139625 | 27.95 | – 4.57 |
Agnico- Eagle | AEM | 4529014 | 59.98 | – 3.64 |
ISh COMEX G Tr | IGT | 27135 | 88.82 | – 3.63 |
Royal Gold | RGL | 19207 | 28.41 | – 3.25 |
Goldcorp | G | 20215122 | 35.89 | – 2.55 |
Central Gold- T | GTU_ U | 39699 | 35.10 | – 2.36 |
Pan Am Silver | PAA | 2363759 | 34.50 | – 2.15 |
Silver Wheaton | SLW | 32501680 | 15.01 | – 1.88 |
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