U.S. Markets -Feb. 23-March 1

Data showing that the economy grew better than expected in the fourth quarter, combined with a weaker greenback, which boosts the shares of exporters and makes dollar-priced metals less expensive for non-U. S. investors, helped buoy U.S. equities during the Feb. 23-March 1 trading period. The U.S. government reported the economy grew at a 5.9% annual pace in the fourth quarter. The Dow Jones industrial average ended higher, up 156.67 points or 1.5% to 10,439.08, while the S&P 500 index edged up 21.11 points or 1.9% to close at 1,115.71.

The price of gold moved from its New York close of US$1,103.50 per oz. on Feb. 23 to US$1,118.00 per oz. on March 1, and with it the Philadelphia Gold & Silver index, which climbed 7.65 points or 4.9% to 164.11. However, gold stocks were eclipsed by base metals and energy stocks on the performance front, with the notable exception of Newmont Mining, which clocked the second-largest value gain, rising US$2.55 per share to close at US$50.28. Randgold Resources and Royal Gold also posted healthy performances, with advances of US$1.76 per share to US$74.20 and US$1.45 to US$45.46, respectively.

It was Cliffs Natural Resources, however, which stole the show, gaining US$4.59 to close at US$59.08. Cliffs is the largest producer of iron ore pellets in North America, a major supplier of direct-shipping lump and fines iron ore out of Australia and a significant producer of metallurgical coal. Consol Energy, the largest underground coal producer in the U.S., claimed the third-largest value gain, rising US$2.35 to US$52.29. Yanzhou Coal increased US$1.21 to US$22.02 and Alpha Natural Resources, a leading Central Appalachian coal producer with significant operations in northern Appalachia, advanced US$1.17 to US$48.11

On the negative side of the ledger, Rio Tinto shares were off US$2.08 per share, closing at US$210.66. The company suffered some negative publicity during the trading period after it locked out 600 workers from its Boron borax mine, 120 km north of Los Angeles, after five months of labour negotiations. Rio had tried unsuccessfully to sell the mine last year and had told the workers that concessions are required to stay competitive.

U.S. most active issues
	VOLUME		WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Alcoa* AA	166751	13.52	12.80	13.31	-0.23
Freeport McMo*FCX	84108	77.29	70.37	76.45	+ 0.21
Barrick Gold* ABX	57592	38.55	35.79	38.45	+ 0.08
Hecla Mining* HL	55473	5.34	4.80	5.33	+ 0.03
Newmont Mng* NEM	48968	50.43	45.58	50.28	+ 2.55
Silver Wheatn* SLW	44011	15.53	14.10	15.26	-0.33
Goldcorp* GG	39954	38.50	35.53	38.42	+ 0.38
Goldspring* GSPG	38200	0.01	0.01	0.01	0.00
Gold Fields* GFI	33540	11.75	10.94	11.56	-0.08
Arch Coal* ACI	31920	22.89	20.51	22.69	+ 0.34

U.S. greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Brookmount Ex*	BMXI	34	0.12	0.07	0.10	+ 25.0
Xtra-Gold Res*	XTGR	265	1.27	1.00	1.25	+ 23.7
Habanero Res*	HBNRF	120	0.08	0.08	0.08	+ 14.2
Argentex Mng*	AGXM	422	0.81	0.67	0.80	+ 14.2
Geovic Mng*	GVCM	271	0.81	0.70	0.80	+ 11.1
Gold Reserve*	GRZ	383	1.19	1.05	1.19	+ 10.1
Banro Res*	BAA	861	2.15	1.82	2.09	+ 10.0
Affinity Gold*	AFYG	657	1.31	0.85	1.11	+ 9.9
Crosshair E&M*	CXZ	402	0.23	0.20	0.23	+ 9.5
Northgate Mnl*	NXG	11781	2.88	2.50	2.88	+ 8.6
PolyMet Mng*	PLM	8144	3.13	2.26	2.43	-22.6
Starfield Res*	SRFDF	50	0.10	0.09	0.09	-18.1
NWT Uranium*	NWURF	32	0.19	0.15	0.15	-16.6
Golden Phoen*	GPXM	850	0.05	0.04	0.05	-16.6
Lake Vict Mng*	LVCA	216	0.46	0.35	0.35	-16.6
Canarc Res*	CRCUF	111	0.12	0.10	0.12	-14.2
Shoshone Silv*	SHSH	53	0.17	0.15	0.15	-11.7
Samex Mng*	SMXMF	183	0.37	0.30	0.32	-11.1
Grandview Gld*	GVGDF	20	0.08	0.06	0.08	-11.1
Augusta Res*	AZC	482	2.66	2.52	2.64	-8.9

U.S. greatest value change
WEEK
	VOLUME	CLOSE	CHANGE
Cliffs Nat Rs* CLF	31522222	59.08	+ 4.59
Newmont Mng* NEM	48967917	50.28	+ 2.55
CONSOL Energy* CNX	19459948	52.29	+ 2.35
Randgold Res* GOLD	6259962	74.20	+ 1.76
Royal Gold* RGLD	3645204	45.46	+ 1.45
AlumCpChina* ACH	974600	25.15	+ 1.45
ASA (Bermuda)* ASA	123285	72.56	+ 1.26
Yanzhou Coal* YZC	1724571	22.02	+ 1.21
Agrium* AGU	1821500	65.83	+ 1.17
Alpha Nat Res* ANR	12821185	48.11	+ 1.17
Rio Tinto* RTP	4721495	210.66	-2.08
Cameco Corp* CCJ	12007240	27.82	-1.43
Soc Quim&M Ch*SQM	4427761	36.57	-1.33
Mosaic* MOS	20075317	59.45	-1.23
PolyMet Mng* PLM	8143694	2.43	-0.71
Mechel* MTL	3461600	23.70	-0.49
Potash C Sask* POT	27481856	112.95	-0.48
Silver Wheatn* SLW	44011238	15.26	-0.33
Augusta Res* AZC	482400	2.64	-0.26
Richmont Mine* RIC	429004	3.97	-0.24