TORONTO STOCK EXCHANGE -May 4-10

It was a wild ride for the TSX composite index over the May 4-10 period.

The index fell sharply with global markets on May 6 owing to jitters over Greece’s debt situation and perhaps a mistaken sell order in New York. The events had the TSX composite down to a low of 11,422.73 on that day.

A massive financial package for Greece announced on May 10, however, had markets rebounding and the TSX regained more than half of what it had lost, finishing the period at 12,001.15 — down roughly 195 points from where it began the period.

Fears over European debt were, however, positive for gold. The yellow metal was seen as one of the few safe havens during the tumultuous period and its value rose by roughly US$10 to finish at US$1,196.50. It did, however, break through the US$1,200 mark on May 7. The Global Gold index tracked the metal’s price as it was up roughly 24 points to 375.71.

But European debt and its negative ramifications for the global economy took its toll on other resources. The prices of aluminum, nickel, tin, lead and zinc all took haircuts and the Capped Metals & Mining index fell 33 points to finish at 972.14.

Drill results from Sabina Gold & Silver’s Back River gold project in southwest Nunavut had the company’s shares up by more percentage points than any other miner for the period. Sabina was up 41% to $1.92 after releasing assays from holes drilled under Llama Lake that were highlighted by 53.6 metres grading 2.3 grams gold per tonne and 22.2 metres grading 7.61 grams gold.

A construction permit for a key railway line helped lift Labrador Iron Mines Holdings fortunes for the period. The company was up 16% after announcing it could start building a 4.5 km railway spur line from its Schefferville, Que., iron ore project to the existing Tshiuetin Rail line in Labrador.

Third quarter results highlighted by gold production of 36,621 oz., an average sale price of US$1,105 per oz. and cash operating costs of US$403 per oz. had Centamin Egypt’s shares up 11% to $2.37 for the period. The results are from the company’s Sukari gold mine in Egypt where the company also announced that the processing plant reached nameplate capacity of 4 million tonnes per year with metallurgical recovery averaging 90%. Reserves at the mine were also increased and now stand at 7.1 million oz. gold.

Investors appeared to be anticipating negative financial results from SouthGobi Energy. The company, which has its board stocked with key members of Ivanhoe Mine’s team, saw its share price fall by 17% to $11.40 for the period. SouthGobi has significant coal assets in Mongolia and said that it would release financial results from its first quarter on May 14.

TSX most active issues
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Eastern Platin	ELR	50739	1.40	1.16	1.26	-0.17
Western C Coal	WTN	49586	5.87	4.99	5.66	+ 0.02
Lundin Mng	LUN	46658	4.60	3.87	4.20	-0.46
Breakwater Res	BWR	38694	0.40	0.31	0.35	-0.06
Yamana Gold	YRI	34226	11.36	10.42	10.97	+ 0.09
Barrick Gold	ABX	31476	46.55	42.95	44.95	+ 1.61
Teck B	TCKB	31205	39.55	34.67	39.53	+ 0.73
Eldorado Gold	ELD	29716	17.02	15.30	16.56	+ 0.87
New Gold	NGD	29078	6.25	5.40	5.93	+ 0.13
KinrossGold	K	26839	19.20	17.57	17.85	-1.03

TSX greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Sabina Silver	SBB	3250	1.93	1.35	1.92	+ 41.1
Crescent Gold	CRA	60	0.17	0.12	0.16	+ 33.3
Crystallex Int	KRY	1213	0.51	0.39	0.49	+ 22.5
Malaga	MLG	706	0.14	0.11	0.14	+ 16.6
Inter-Citic Mn	ICI	2939	1.76	1.34	1.75	+ 16.6
Labdr Iron Mns	LIM	1395	6.77	5.40	6.60	+ 15.7
Nord Res	NRD	33	0.30	0.24	0.30	+ 15.3
Starfield Res	SRU	1975	0.09	0.08	0.09	+ 12.5
Diamond Fields	DFI	93	0.09	0.09	0.09	+ 12.5
Centamin Egypt	CEE	17326	2.42	1.98	2.37	+ 11.2
TriAusMin	TOR	20	0.10	0.10	0.10	-23.0
INV Metals	INV	513	0.93	0.72	0.77	-23.0
Mega Uranium	MGA	4538	0.54	0.43	0.44	-20.0
Treasury Metal	TML	600	0.70	0.50	0.54	-19.4
Zazu Metals	ZAZ	482	0.22	0.16	0.17	-19.0
Goldstone Res	GRC	3382	0.58	0.40	0.47	-18.9
Katanga Mng	KAT	5720	1.26	0.98	1.02	-17.7
Niocan Inc	NIO	45	0.47	0.40	0.43	-17.3
SouthGobi Engy	SGQ	723	13.76	10.96	11.40	-17.2
Golden Peaks	GL	360	0.71	0.57	0.58	-17.1

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
IShCOMEXGTr	IGT	49791	120.91	+ 3.86
Red Back Mng	RBI	11729795	26.88	+ 2.48
CentralGold-T	GTU_U	26404	50.50	+ 2.29
Barrick Gold	ABX	31475619	44.95	+ 1.61
Newmont Mng	NMC	71419	56.82	+ 1.48
Goldcorp	G	23495138	44.60	+ 1.44
Agnico-Ea gle	AEM	6328615	64.76	+ 1.41
Detour Gold	DGC	3172628	21.91	+ 1.33
Inmet Mining	IMN	3031756	52.15	+ 1.23
Ivanhoe Mines	IVN	5975151	16.54	+ 0.93
PotashCpSask	POT	6579698	106.27	-3.74
Agrium	AGU	5475651	60.45	-2.55
SouthGobi Engy	SGQ	723333	11.40	-2.37
Russell Metals	RUS	1548592	19.42	-1.61
HudBay Minls	HBM	14809687	11.52	-1.27
Imperial Metal	III	487623	19.22	-1.14
Quadra Mng	QUA	9506450	13.83	-1.03
Kinross Gold	K	26838550	17.85	-1.03
Major Drilling	MDI	658682	24.82	-0.88
FNX Mining	FNX	9254228	11.98	-0.87