The TSX composite index was off 39 points to 12,892 points for the Nov. 22-26 trading period despite solid data on retail spending and signs of inflation. Along with such bullish indicators came increased sentiment that the Bank of Canada may begin raising rates as early as the first quarter of 2011.
That possibility led to a bolstering of the Canadian dollar against most major currencies, with the exception of the U.S. greenback.
The relative strength in the U.S. dollar wasn’t good news for gold as it fell by US$2 to US$1,355 for the period. Lower prices for the yellow metal had the Global Gold index down just a single point to 410.71.
Higher prices for nickel and lead weren’t enough to bolster the Capped Metals & Mining index, which was off 24 points to 1,281.32. Copper, aluminum, tin and zinc prices were all lower.
Early-stage exploration results were enough to give Mawson Resources a significant boost. The company’s shares climbed 44% to $2.24 after releasing channel sample results from its Rompas gold-uranium project in northern Finland. Highlights include 30 cm grading 1,866 grams gold and 8% uranium and 26 cm grading 1,510 grams gold and 3.95% uranium.
Solid exploration results were behind Almaden Minerals’ market surge. The company gained 40% to finish at $3.90 after releasing two sets of results from the Ixtaca gold-silver zone at its Tuligtic project in Mexico’s Puebla state. First came word of 94.6 metres grading 1.33 grams gold and 79.9 grams silver, then a day later, on Nov. 24, the company announced a highlight intercept of 126.2 metres of 0.86 gram gold and 61.7 grams silver.
Ixtaca is a blind discovery with little surface manifestation. The zone lies within the Trans Mexican volcanic belt, about 120 km from the Pachuca gold-silver project, which historically produced 1.4 billion oz. silver and 7 million oz. gold.
But the most impressive results for the week came from Continental Gold, which continued its torrid pace with a 36% gain. The company, with key gold assets in Colombia, only began trading in late April, and has already climbed from the $2.30 range it began trading at to above $10. The latest buying frenzy followed the release of drill results from the company’s Buritica gold project that were highlighted by 17.9 metres grading 113.82 grams gold and 112 grams silver.
Word that Alexis Minerals had hit visible gold in the first hole at its Noralex property near Rouyn-Noranda in Quebec lifted the company’s shares up 38% to 22¢. The company also announced that it had acquired more gold prospective ground at its Snow Lake project in Manitoba. The new claims cover 38 sq. km of the Herblet Lake area. Alexis will have to spend $3 million over five years to earn a full interest in the ground.
| TSX most active issues | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Eastern Platin | ELR | 58647 | 1.80 | 1.56 | 1.59 | -0.21 |
| Potash One | KCL | 56773 | 4.62 | 4.50 | 4.52 | + 0.90 |
| Farallon Res | FAN | 26436 | 0.79 | 0.78 | 0.78 | 0.00 |
| Western Coal | WTN | 25176 | 10.69 | 10.19 | 10.40 | -0.36 |
| Canada Lithium | CLQ | 24784 | 1.48 | 1.05 | 1.30 | + 0.28 |
| Uranium One | UUU | 22810 | 5.49 | 4.64 | 5.41 | + 0.63 |
| Andean Res | AND | 22611 | 6.54 | 6.35 | 6.39 | -0.11 |
| Cline Mng | CMK | 22409 | 3.37 | 2.81 | 2.92 | -0.22 |
| Denison Mines | DML | 21329 | 3.38 | 2.50 | 3.30 | + 0.69 |
| Equinox Minls | EQN | 19931 | 5.85 | 5.46 | 5.74 | -0.15 |
| TSX greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Talon Metals | TLO | 1413 | 1.31 | 0.75 | 1.27 | + 62.8 |
| Rockgate Cap | RGT | 4562 | 1.92 | 1.10 | 1.85 | + 54.1 |
| Corona Gold | CRG | 1156 | 1.30 | 0.85 | 1.22 | + 43.5 |
| Mawson Res | MAW | 3636 | 2.68 | 1.60 | 2.24 | + 43.5 |
| Almaden Mnls | AMM | 2197 | 4.30 | 2.78 | 3.90 | + 40.2 |
| Alexis Minls | AMC | 16385 | 0.22 | 0.17 | 0.22 | + 37.5 |
| Contintl Gold | CNL | 5316 | 10.55 | 7.59 | 10.35 | + 36.1 |
| Mandalay Res | MND | 1449 | 0.35 | 0.26 | 0.35 | + 34.6 |
| Crosshair E&Mg | CXX | 7356 | 0.48 | 0.33 | 0.47 | + 34.2 |
| Mega Uranium | MGA | 16673 | 1.05 | 0.75 | 1.05 | + 32.9 |
| Mineral Depost | MDM | 869 | 10.80 | 1.11 | 5.30 | -49.3 |
| Opta Minls | OPM | 29 | 1.65 | 1.35 | 1.53 | -20.3 |
| Pediment Gold | PEZ | 2515 | 2.37 | 1.84 | 1.97 | -15.8 |
| Niocan Inc | NIO | 25 | 0.35 | 0.33 | 0.33 | -15.3 |
| Liberty Mines | LBE | 1771 | 0.15 | 0.12 | 0.12 | -14.2 |
| Crescent Gold | CRA | 97 | 0.14 | 0.11 | 0.12 | -14.2 |
| Franconia Mnls | FRA | 578 | 0.64 | 0.56 | 0.56 | -12.5 |
| Eastern Platin | ELR | 58647 | 1.80 | 1.56 | 1.59 | -11.6 |
| Crowflight Mnl | CML | 8587 | 0.09 | 0.07 | 0.08 | -11.1 |
| Grandview Gld | GVX | 758 | 0.08 | 0.06 | 0.08 | -11.1 |
| TSX greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| Labdr I-Ore Ro | LIF_U | 238833 | 67.50 | + 3.00 |
| Contintl Gold | CNL | 5315707 | 10.35 | + 2.75 |
| PotashCpSask | POT | 3641967 | 145.40 | + 2.57 |
| Golden Mnls | AUM | 189637 | 27.80 | + 2.25 |
| Tahoe Res | THO | 456437 | 12.00 | + 1.83 |
| Centerra Gold | 3116418 | 18.14 | + 1.64 | |
| KirklandLkGd | KGI | 1439235 | 13.69 | + 1.55 |
| OrbitGarantD | OGD | 461454 | 6.81 | + 1.54 |
| Cameco Corp | CCO | 5149397 | 37.54 | + 1.52 |
| Labdr Iron Mns | LIM | 1674293 | 9.58 | + 1.51 |
| Mineral Depost | MDM | 869431 | 5.30 | -5.17 |
| Teck A | TCKA | 27153 | 49.25 | -1.86 |
| Inmet Mining | IMN | 506760 | 61.60 | -1.81 |
| Teck B | TCKB | 10247558 | 49.24 | -1.69 |
| Pan Am Silver | PAA | 1189424 | 36.80 | -0.98 |
| IAMGold Corp | IMG | 6246878 | 16.72 | -0.70 |
| Goldcorp | G | 8030066 | 46.00 | -0.65 |
| Franco-Nevada | FNV | 613371 | 33.15 | -0.60 |
| Lundin Mng | LUN | 11093951 | 6.18 | -0.57 |
| Russell Metals | RUS | 312160 | 21.06 | -0.56 |
Be the first to comment on "TORONTO STOCK EXCHANGE -Novenber 22-26"