TORONTO STOCK EXCHANGE MARCH 25-31

The TSX Composite Index climbed 2.5% over the March 25-31 trading period to 13,350.13 points. The benchmark’s gains were largely, though not exclusively, boosted by the commodity sector.

The Capped Metals and Mining Index surged 4.5% to 791.28 points, while the Global Gold Index rose 2.8% to 326.57 points.

Yamana Gold was the most actively traded stock over the trading session with more than 80 million shares changing hands on the release of the company’s 2007 financial results. Net income for the year was US$47.1 million, up from US$6.14 million the previous year, but analysts downgraded their Yamana ratings citing rising costs and doubts over the company’s production guidance. The company’s share price fell 98 to $15.06.

Yamana also advised shareholders to reject a “mini-tender” offer from TRC Capital for 3 million shares at $15.75 each — a 1.87% discount to its share price on March 24.

Eastern Platinum was a distant second for activity with 49 million shares changing hands. Shares rose 8 to $3.24 after reaching a mid-week high of $3.51. The company posted a net loss of US$12.2 million for the six months ended Dec. 31, compared with a net income of US$4.36 million a year ago.

On a trading volume of 32.8 million shares, Uranium One shares fell 97 each to $3.38. The company narrowed its net loss in the fourth quarter to $2.2 million, compared with a loss of $6.2 million in the same period of 2006. The company has been ramping up production at its two key projects but still warned of a $490-million accounting loss for the first quarter of 2008 for the sale of its stake in Aflease Gold.

Following Timminco, Potash Corp. of Saskatchewan saw the second-largest value change over the period, gaining $5.49 per share to $159.50, up about 150% over the last 12 months. Teck Cominco gained $3.26 to $42.09. Teck and Inmet Mining, down $1.60 per share to $75, agreed to develop the US$3.5-billion Petaquilla copper project in Panama.

Jaguar Mining was the top loser for the week, falling $1.70 per share to $10.90. The company reported a loss of US$14.8 million for the fourth quarter, up from US$6.2 million a year earlier as a result of higher operating costs and US$9.7 million in charges for stock-based compensation, despite a 137% rise in quarterly sales. Banro Resources fell $1.10 to $8.41, while Gammon Gold shares dropped 99 to $7.89. Gammon released its year-end operational outlook and reserve and resource estimate — the company expects to produce 245,000- 275,000 gold-equivalent oz. this year, increasing to 355,000-385,000 oz. by 2010.

StrataGold shares lost the most on a percentage basis, falling more than 25% to close at 19 each after releasing drill results from its Tassawini deposit in Guyana. Highlights include a 32.4-metre intersection from surface grading 1.26 grams gold per tonne, including 16.05 metres of 2.25 grams gold, and a 54.8-metre section grading 0.87 gram gold.