Toronto Stock Exchange (February 07, 2011)

The resource-laden TSX composite index rose 179 points, or 1.4%, over the Jan. 24-28 report period as unrest in the Middle East sent gold and oil higher at the end of the week.

The price of crude oil slipped to the mid-80s before recovering to US$89.34 per barrel, up US23¢ on the week. Gold fell through the US$1,320 per oz. level before shooting up to US$1,340.70 per oz., marking a US30¢ loss for the period. The Canadian dollar was down 0.57 of a cent to US99.89¢.

The Global Gold index gained 5.18 points over the week to finish at 377.04, up 1.4%. Barrick Gold, one of the stocks that moved the index the most, tacked on $1.06 to close at $47.39. The spot price of silver was up US50¢ at US$27.96 per oz. 

Spooked by protests in Egypt, investors drove Centamin Egypt down 12¢ to close at $2.21. Its flagship project, the Sukari gold mine, is located in Egypt’s Eastern Desert, some 25 km from the Red Sea. 

Gold production at Sukari commenced in June 2009, making it one of the first new mines in the country. The mine was scheduled to produce upwards of 170,000 oz. in 2010. The deposit is home to gold reserves of 9.1 million oz. and has another 11 million oz. in the measured and indicated categories.  

With copper also on an upward move at US$4.44 per lb., for a gain of US4¢, the Capped Metals & Mining index rose 13.3 points, or 0.9%, to 1,470.84. First Quantum Minerals closed up $2.75 at $114.49 after announcing plans to invest US$2 billion expanding many of its mining operations through to 2014, excluding the potential development of the Haquira deposit in Peru and the building of a copper smelter in Zambia.

Potash Corp. of Saskatchewan reported strong fourth quarter earnings for 2010 of $1.61 per share, more than double the previous year’s quarter, on growing global food demand. This raised full-year earnings to $1.8 billion, or $5.95 per share – the second highest total in company history – and beating the $981 million, or $3.23 per share, earned in 2009. The company also announced a three-for-one stock split and an increase in the quarterly dividend to 21¢ per share, up from 10¢, on a presplit basis. PotashCorp closed at $173.99, for a gain of $14.22.

Uranium producer Cameco jumped $2.18 to end at $39.96. The company’s year-end results will be announced after markets close on Friday, Feb. 11.

B2Gold finished at $2.40, up 9¢. The junior announced that its La Libertad and Limon mines in Nicaragua produced 37,000 oz. gold in the fourth quarter of 2010, bringing production for last year to 109,000 oz.

After agreeing to merge with Lundin Mining to create a $9-billion valued base metal miner to be named Symterra Corp., Inmet Mining was off 9¢ on the week to finish at $75. Inmet shareholders will receive 3.4918 Symterra shares, while Lundin shareholders will get 0.3333 of a Symterra share for each share held.

TSX most active issues

VOLUMEWEEK

(000s)HIGHLOWCLOSECHANGE

Eastern PlatinELR600101.781.611.63-0.09

Equinox MinlsEQN342576.155.635.85+0.30

Uranium OneUUU340836.125.706.03+0.34

Baffinland IrnBIM295741.511.491.50-0.01

Kinross GoldK2556717.1615.9816.99+0.24

Centamin EgyptCEE234132.332.022.21-0.12

Cons Thomp IrnCLM2267917.3017.2317.25-0.01

B2GoldBTO210182.442.252.40+0.09

Barrick GoldABX2018948.3845.5747.39+1.06

Lundin MngLUN177357.467.227.29-0.09

TSX greatest percentage change

VOLUMEWEEK

(000s)HIGHLOWCLOSECHANGE

Zazu MetalsZAZ21441.190.701.05+45.8

Pac NW CapPFN25880.200.140.19+35.7

Diamond FieldsDFI16750.460.230.31+34.7

Khan ResKRI20410.640.480.62+26.5

Strateco ResRSC21411.170.941.14+22.5

South Am SilvrSAC18351.981.551.84+16.4

Pac Rim MiningPMU15880.220.180.22+15.7

Nautilus MinlsNUS30923.642.783.23+15.3

Thundermin ResTHR10500.230.190.23+15.0

Mandalay ResMND6220.500.400.48+14.2

Velocity MinlsVLC13190.160.110.12-25.0

Polar Star MngPSR13301.831.361.40-24.3

Tiger ResTGS2270.570.430.44-24.1

First UraniumFIU108081.290.990.99-22.6

Karnalyte ResKRN33912.009.7410.00-15.3

Ursa Major MinUMJ19940.220.170.17-15.0

Forsys MetalsFSY15863.192.692.70-14.8

Avnel GoldAVK2410.570.430.47-14.5

Adanac MolyAUA39730.100.060.06-14.2

Africo ResARL701.631.351.36-13.9

TSX greatest value change

WEEK

VOLUMECLOSECHANGE

Potash Cp SaskPOT5102864173.99+14.22

First QuantumFM3583010114.49+2.75

Major DrillingMDI33567642.59+2.30

Cameco CorpCCO482011839.96+2.18

Ivanhoe MinesIVN624186827.35+2.05

Detour GoldDGC401516126.58+1.78

Agnico-EagleAEM502186569.16+1.51

Allied NevadaANV100033826.03+1.23

Royal GoldRGL4637746.74+1.22

AgriumAGU480479688.02+1.19

Karnalyte ResKRN33911310.00-1.81

Labdr I-Ore RoLIF_U13051169.28-1.32

Franco-NevadaFNV231331328.66-1.05

Inmet MiningIMN144078675.00-0.92

Teck BTCKB1340505357.86-0.80

Anvil MiningAVM49223435.88-0.65

Harry WinstonHW109590410.58-0.51

Newmont MngNMC4919955.14-0.50

Forsys MetalsFSY15862202.70-0.47

Altius MnrlsALS13522913.39-0.45