TORONTO STOCK EXCHANGE -May 31-June 4

Global markets continued to be a study in volatility and the TSX composite index was no exception as the index fell over the May 31 -June 4 period. Still jittery over the near bankruptcy of Greece, Hungarian officials managed to stoke investor fears by comparing the country’s financial situation to Greece’s. And while experts contend that Hungary is in nowhere near as bad shape, markets still fell on the comments.

But just as the European situation was setting off a new round of selling in global markets, it continued to be good days for gold. The yellow metal rose higher in value taking the Global Gold index along for the ride. Gold plays like Franco-Nevada, Greystar Resources and Gabriel Resources, did especially well, the latter two thanks to some positive news releases.

Things, however, weren’t quite as rosy for diversified miners as evidenced by the slump in the Capped Metals & Mining index. Base metal prices and the stocks of companies that produce them continued to be hurt by fears that the global economic recovery has been stalled by the recent mess in Europe and signs that China’s growth is cooling.

The good news for Greystar Resources’ was the Colombian government reversing a recent decision to invalidate the environmental impact assessment for the company’s flagship Angostura gold project. Word of the reversal sent Greystar shares up 30% for the period to $4.87. Greystar were hit hard a few weeks earlier by the government’s initial decision to ban mining above the 3,200 metres — an elevation where Greystar needs to work to make Angostura an economic project.

An analyst upgrade and the announcement of a new chief executive officer coincided with renewed enthusiasm for Gabriel’s stock. The company, which is looking to develop the Rosia Montana gold project in Romania, saw its shares climb 15% to $4.52 after Macquarie Research upgraded it from “underperform” to “neutral.” The upgrade came on word that Gabriel had received safety permits for two dams needed for the project. Macquarie’s target price on Gabriel was increased to $4.75 from $4.00.

The company also announced it was replacing former president and chief executive Keith Hulley with Jonathan Henry. Henry most recently served as chief executive of U.K.-based gold miner Avocet Mining.

It was also a strong period for Mawson Resources as the company’s shares climbed 21% to 41¢ and were still moving up at press time. The company reported drill results from the Ostra Jarntjarnbacken uranium prospect in northern Sweden which included 17 metres grading 0.1% U₃0₈. At its Rompas property in Finland, bonanza-grade gold and uranium results from surface sampling that returned as much as 12,800 grams gold and 43.6% uranium.

TSX most active issues
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Eastern Platin	ELR	34110	1.30	1.11	1.23	+ 0.05
Western C Coal	WTN	32274	5.35	4.77	4.82	-0.42
Eldorado Gold	ELD	28269	18.46	17.48	17.84	-0.03
Lundin Mng	LUN	21366	4.16	3.75	3.82	-0.10
Teck B	TCKB	18966	36.54	32.51	32.77	-3.03
Barrick Gold	ABX	15889	45.78	43.19	43.92	-0.33
Yamana Gold	YRI	14243	11.59	11.05	11.10	-0.21
Equinox Minls	EQN	13904	3.95	3.54	3.60	-0.05
Silver Wheaton	SLW	13257	20.45	19.09	19.16	-0.80
Osisko Mng	OSK	13013	10.77	10.19	10.42	-0.14

TSX greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Diamond Fields	DFI	3436	0.30	0.09	0.25	+ 150.0
TriAusMin	TOR	3230	0.09	0.04	0.08	+ 60.0
Greystar Res	GSL	4935	5.80	4.76	4.87	+ 29.5
Mawson Res	MAW	239	0.41	0.28	0.41	+ 20.5
Uranium One	UUU	11148	2.62	2.21	2.57	+ 18.4
Minco Silver	MSV	856	2.70	2.38	2.56	+ 16.8
Gabriel Res	GBU	4426	4.86	3.77	4.52	+ 14.7
TVI Pacific	TVI	1641	0.10	0.09	0.09	+ 12.5
DynacorGoldM	DNG	502	0.28	0.25	0.28	+ 12.0
Yorbeau Res A	YRBA	381	0.20	0.17	0.19	+ 11.7
San Anton Res	SNN	37	0.16	0.14	0.14	-30.0
Petaquilla Mnl	PTQ	4514	0.45	0.29	0.34	-26.0
Freegold Vent	ITF	2144	0.09	0.06	0.06	-25.0
Moneta Porcpn	ME	1404	0.29	0.24	0.24	-20.0
Baja Mng	BAJ	655	0.74	0.61	0.61	-18.6
Canarc Res	CCM	771	0.12	0.09	0.09	-18.1
Crystallex Int	KRY	5806	0.81	0.54	0.55	-17.9
Hard Creek Ni	HNC	201	0.38	0.31	0.32	-17.9
Africo Res	ARL	20	0.86	0.78	0.78	-17.8
PolyMet Mng	POM	613	1.93	1.58	1.63	-15.9

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Franco-Nevada	FNV	1619002	31.75	+ 1.75
Greystar Res	GSL	4934712	4.87	+ 1.11
Labdr I-Ore Ro	LIF_U	223550	48.66	+ 1.06
Royal Gold	RGL	10971	52.34	+ 0.74
Gabriel Res	GBU	4426070	4.52	+ 0.58
KirklandLkGd	KGI	1362429	8.50	+ 0.45
Marklnd AGF PM	MPM	12400	10.20	+ 0.43
Uranium One	UUU	11147534	2.57	+ 0.40
HoriznsGBear	HGD	4259693	13.91	+ 0.37
Minco Silver	MSV	856305	2.56	+ 0.37
PotashCpSask	POT	4232264	100.56	-3.87
Inmet Mining	IMN	1300222	46.18	-3.83
Teck B	TCKB	18965901	32.77	-3.03
Agrium	AGU	3657531	54.67	-3.03
IShCOMEXGTr	IGT	15601	125.87	-2.91
Seabridge Gold	SEA	186868	33.79	-2.83
Teck A	TCKA	13156	34.61	-2.21
Major Drilling	MDI	258851	21.99	-1.40
Ivanhoe Mines	IVN	4278752	14.01	-1.32
First Quantum	FM	2916574	54.46	-1.28