Toronto Stock Exchange June 30-July 6

After rebounding in the previous period, the S&P/TSX Composite index fell back into its prior downward trend, retreating nearly 450 points to finish the June 30-July 6 period at 10,027.

Worse than expected bankruptcy and unemployment numbers fed investor fears that the global economic recovery will be slower than most had recently come to believe. That turn in sentiment caused commodity prices to drop and took the index along for the ride.

Both the price of oil and gold fell, with gold down roughly US$10 to finish in the US$924-per-oz. range. That weighed down the Global Gold index, as it fell roughly 20 points to finish at 305.99.

The base metal producers didn’t fare much better. With copper, aluminum, nickel, tin, lead and zinc prices all softer, the Capped Metals and Mining index fell 5 points to finish at 612.56.

Lower prices didn’t hurt Ivanhoe Mines, however. The Vancouver-based company that holds one of the world’s largest copper-gold deposits through its stake in the Oyu Tolgoi project in Mongolia, surged 35% to finish the period at $8.61. The company’s share price has fluctuated wildly of late, as speculation continues to swirl over when the government will sign off on the investment agreement it needs to begin construction. There were rumours out of Mongolia that the deal could be approved by parliament before it adjourns for holidays in mid-July.

Teck shares were the most actively traded with roughly 36 million shares changing hands, and the company managed a gain in market cap as well. The stock finished the period 99¢ higher at $19.57 after Teck announced that a state-run Chinese sovereign wealth fund, known as China Investment Corp. (CIC), was investing $1.7 billion in the company. The money gets CIC roughly 17% of Teck, but only 6% of voting rights due to Teck’s dual-class share structure. The diversified miner will use the money to pay down a significant portion of its term loan. The size of its debt — taken on to buy Fording Canadian Coal Trust in 2008, just before coal prices fell and cash flows were crimped — had caused concern on the market over the last year.

Gabriel Resources saw its shares fall 27% to finish the period at $1.40. The fall came after the company experienced yet another setback at its Rosia Montana gold project in Romania. The latest news was that a Romanian court of appeals had ruled against the company in connection with the suspension of its environmental review process. The company had argued that it was not legally required to produce an urbanism certificate — a document detailing the legal, economic and technical regime for a project — as part of its environmental assessment. The court, however, upheld a previous decision requiring the company to do so. The environmental review process was suspended in 2007 after opposition from non-governmental organizations.

TSX most active issues
	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Teck B TCKB	36456	21.03	18.05	19.57	+ 0.99
Equinox Minls EQN	24033	2.83	2.20	2.24	-0.60
WesternCCoalWTN	22465	1.99	1.61	1.66	-0.29
Lundin Mng LUN	14404	3.41	3.08	3.09	-0.30
Yamana Gold YRI	13073	10.77	10.06	10.10	-0.51
GrandeCacheCGCE	12326	2.00	1.68	1.69	-0.21
Denison Mines DML	12249	2.02	1.78	1.84	-0.13
Eastern Platin ELR	11227	0.55	0.49	0.50	-0.02
Ivanhoe Mines IVN	9115	8.70	6.40	8.61	+ 2.25
Tiomin Res TIO	8800	0.03	0.01	0.02	0.00

TSX greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Firstgold	FGD	594	0.05	0.03	0.05	+ 66.6
Colombia Goldf	GOL	4718	0.09	0.04	0.06	+ 50.0
Ivanhoe Mines	IVN	9115	8.70	6.40	8.61	+ 35.3
Entree Gold	ETG	2026	1.74	1.09	1.42	+ 30.2
Anaconda Mng	ANX	182	0.23	0.19	0.23	+ 27.7
Crystallex Int	KRY	891	0.31	0.25	0.30	+ 25.0
Mundoro Cap	MUN	545	0.75	0.58	0.72	+ 24.1
PC Gold	PKL	952	0.74	0.52	0.74	+ 23.3
Jinshan Gold M	JIN	627	1.12	0.89	1.09	+ 22.4
Erdene Res Dev	ERD	57	0.29	0.23	0.28	+ 21.7
Gabriel Res	GBU	8410	1.95	1.12	1.40	-27.4
North Atlc Res	NAC	1286	0.09	0.06	0.06	-25.0
Gryphon Gold	GGN	314	0.19	0.15	0.15	-25.0
Goldstake Exp	GXP	168	0.04	0.03	0.03	-25.0
Silver Wtn wtA	SLW_TA	24	0.85	0.73	0.73	-23.1
Equinox Minls	EQN	24033	2.83	2.20	2.24	-21.1
Athabasca Pota	API	767	4.60	3.59	3.66	-20.4
Keegan Res	KGN	555	3.42	2.60	2.79	-20.2
Breakwater Res	BWR	7099	0.30	0.24	0.24	-20.0
Treasury Metal	TML	399	0.22	0.16	0.16	-20.0

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Ivanhoe Mines	IVN	9115228	8.61	+ 2.25
Seabridge Gold	SEA	66889	30.89	+ 1.09
Teck B	TCKB	36455836	19.57	+ 0.99
Horizns G Bear	HGD	5767471	6.80	+ 0.70
Tec k A	TCKA	19467	20.57	+ 0.39
Entree Gold	ETG	2025628	1.42	+ 0.33
US Gold Can Ac	UXE	24830	2.81	+ 0.32
Potash Cp Sask	POT	3124226	110.60	+ 0.25
JinshanGoldM	JIN	627015	1.09	+ 0.20
Minefinders	MFL	475406	8.40	+ 0.18
Agnico-Eagle	AEM	1506025	59.33	-3.67
Newmont Mng	NMC	55776	45.75	-3.38
Goldcorp	G	7077153	39.10	-2.75
Agrium	AGU	2953622	45.12	-2.50
Cameco Corp	CCO	2830222	27.81	-2.42
Barrick Gold	ABX	7753133	38.29	-2.07
First Quantum	FM	2205843	53.83	-1.72
Inmet Mining	IMN	1213714	40.60	-1.49
IShCOMEXGTr	IGT	12711	105.40	-1.41
Horizns G Bull	HGU	7840244	11.02	-1.38