U. S. MARKETS JULY 18 -21

A week after the United States government announced it would help prop up mortgage buyers Fannie Mae and Freddie Mac, market anxiety has cooled a little, demonstrated by gains over the July 15-21 trading period.

As Treasury secretary Henry Paulson Jr. asked Americans to be patient as the economy repairs itself, the Dow Jones Industrial Average gained 3.7%, adding on 412 points to close out at 11,467 points.

The S&P 500 Index also recovered somewhat, rising 2.6%, or nearly 32 points to close at 1,260 points.

Gold fell US$7.50 to US$960.50 per oz. over the period, while big gold stocks made some gains. Newmont Mining shares rose US$1.97 to US$49.67 apiece and Randgold Resources shares were up 21 to US$51.59 per share. AngloGold Ashanti shares fell US$1.12 to US$34.74, making it the top loser by value over the period.

Base metals producers also experienced some gains.

Vale shares rose by US94 to close at US$29.90.The company completed a US$12.9- billion share offering during the session — despite the slump in financial markets that has pushed its share price lower. The offering, which fell short of Vale’s original US$15- billion target, will help fund its US$59-billion investment plan for acquisitions and expansions. The company also listed on the Euronext exchange in Paris during the period.

Freeport-McMoRan Copper & Gold shares jumped US$7.56 over the period to US$104.79 each, while Rio Tinto shares climbed the most by value, closing US$17 higher at US$421 apiece.

Other big gainers were the big fertilizer producers, Potash Corp. of Saskatchewan, up US$9.53 to US$222.75 and Mosaic Co., which climbed US$9.28 to finish at US$139.05.

North America’s largest iron ore producer, Cleveland-Cliffs, also saw its shares rise considerably, up US$7.54 to US$104.79. The company is working out the details of a US$10-billion cash-and-stock bid for metallurgical coal producer Alpha Natural Resources. The resulting company will have nine iron-ore facilities and more than 60 coal mines across North America, South America and Australia.

U. S. most active issues
	VOLUME	WEEK
	(000s) HIGH	LOW	CLOSE	CHANGE
Vale* RIO	68189 29.95	28.64	29.90	+ 0.94
Alcoa* AA	26951 34.36	33.06	33.96	+ 0.22
Freeport McMo*FCX	24450 108.49	97.07	107.01	+ 7.56
Peabody Enrgy* BTU	22074 69.43	62.74	69.23	+ 3.54
CoeurdAlene*CDE	19853 2.53	2.31	2.49	+0.14
PotashCSask* POT	16669222.75	207.00	222.75	+ 9.53
Silverado* SLGLF	14690 0.04	0.02	0.04	+ 0.02
Arch Coal* ACI	14545 57.06	52.48	57.06	+ 2.26
Goldcorp* GG	13952 46.68	45.24	46.12	+ 0.58
Barrick Gold* ABX	13519 48.37	46.74	48.28	+ 0.78

U. S. greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Silverado*	SLGLF	14690	0.04	0.02	0.04	+100.0
Diamond Discv*	DMDD	1762	0.03	0.01	0.02	+100.0
Global Gold*	GBGD	38	0.25	0.24	0.25	+ 66.6
Gemini Expl*	GXPI	1399	0.05	0.04	0.05	+ 25.0
APEX Silver*	SIL	2254	6.07	4.92	5.87	+ 19.3
Cream Mnrls*	CRMXF	25	0.20	0.20	0.20	+ 17.6
Mesabi Trust*	MSB	140	29.76	25.38	29.29	+ 13.9
America West*	AWSR	113	0.37	0.29	0.35	+ 12.9
Stillwater Mg*	SWC	3495	11.01	9.60	10.74	+ 11.4
Hecla Mining*	HL	5187	9.20	8.17	9.18	+ 9.8
Apolo Gold*	APLL	85	0.04	0.03	0.03	-25.0
Fischer-W Gld*	FWGO	21	0.04	0.04	0.04	-20.0
Buckingham Ex*	BUKX	20	0.12	0.12	0.12	-20.0
US Antimony*	UAMY	52	0.50	0.40	0.41	-14.5
Uranium Star*	URST	44	0.15	0.12	0.13	-13.3
NWT Uranium*	NWURF	57	0.15	0.11	0.13	-13.3
Radius Gold*	RDUFF	64	0.23	0.20	0.20	-13.0
El Capitan Pr*	ECPN	315	0.17	0.13	0.15	-11.7
Tombstone Exp*	TMBXF	217	0.38	0.34	0.35	-10.2
US Gold*	UXG	82	1.99	1.72	1.74	-9.8

U. S. greatest value change
WEEK
	VOLUME	CLOSE	CHANGE
Rio Tinto* RTP	926095	421.00	+ 17.00
Potash C Sask* POT	16668893	222.75	+ 9.53
Mosaic* MOS	12538435	139.05	+ 9.28
Patriot Coal* PCX	1148700	120.83	+ 7.76
Freeport McMo* FCX	24449889	107.01	+ 7.56
Cleveland-Cli* CLF	10794267	104.79	+ 7.54
CONSOL Energy* CNX	13059667	88.74	+ 6.25
Agrium* AGU	1488600	99.62	+ 5.01
Massey Energy* MEE	11532022	74.81	+ 4.88
Buenaventura* BVN	975503	67.92	+ 3.61
AngloGold Ash* AU	3021149	34.74	-1.12
Harry Winston* HWD	67900	20.04	-0.46
Harmony Gold* HMY	3188223	11.97	-0.30
Banro Res* BAA	3429 6	4.91	-0.29
Minefinders* MFN	1412374	10.80	-0.25
Fronteer Dev* FRG	746984	4.20	-0.23
US Gold* UXG	81500	1.74	-0.19
Vista Gold* VGZ	298715	4.07	-0.18
PolyMet Mng* PLM	327122	3.48	-0.12
Gold Fields* GFI	13291789	12.89	-0.11