Toronto Stock Exchange Sept 15-21

The S&P/TSX composite index continued its rise over the Sept. 15-21 reporting period from a low reached last March (7,566.94 points), gaining 92.57 points to close at 11,424.61 — but not before hitting 11,555.6 points a few days earlier.

And while gold continued to hover above the captivating US$1,000-per-oz. mark, gold stocks were not the movers and shakers of the period. The Global Gold index slipped 6.22 points to 338.87 and even the Capped Metals and Mining index was down, shaving 6.77 points to close at 846.32.

Peregrine Diamonds shares skyrocketed an astounding 193% to close at $1.85 per share. The company discovered some large diamonds at its Chidliak project on Baffin Island, in Nunavut, calling the results some of the best finds since the discovery of the Diavik mine in the Northwest Territories. A 398.8-kg sample yielded 2,730 diamonds larger than the 0.075-mm sieve size, including 131 diamonds larger than the 0.6-mm sieve size.

Silver Standard Resources was a top gainer over the period thanks to some new drill results from the Snowfield project in northwestern B. C. Shares were up $1.31, closing at $24.18 apiece. Of note were some bonanza grades from the Galena zone, where hole S-12 intersected four bands of mineralization. Highlights include 20.6 metres grading 5.33 grams gold per tonne and 159 grams silver (cut), including 1.5 metres grading 16.95 kg of gold per tonne and 8.7 kg of silver (uncut). Assays in excess of 31.1 grams gold per tonne were cut off at that level.

Cameco shares were up 97¢ over the period to $31.72. The company laid off 79 employees at its fuel manufacturing facility in Port Hope, Ont., during the week due to a strike that began in early September. The company is not offering a wage increase for the first year of a proposed two-year contract, with a 2% increase in the second. It’s also seeking to cut long-term disability benefits and hold the line on retirement benefits.

Harry Winston Diamond shares were on the move upwards, gaining 86¢ to close at $9.55 per share on news the company will cancel a planned winter shutdown at the Diavik diamond mine, in the Northwest Territories. Diamond prices drastically fell last year with the onset of the global recession, putting Harry Winston and 60% Diavik partner and operator Rio Tinto in a tight spot. The mine was closed this summer for six weeks but now that things are looking up, it’s full steam ahead for the miners.

On the losing end was First Quantum Minerals, which saw shares plummet $8.62 to $63.48 apiece. Government officials in the Democratic Republic of the Congo say that First Quantum has no chance of bringing its Kolwezi tailings project there into production. The company says its legal team is fighting the decision.

TSX most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
IAMGold Corp	IMG	49073	16.97	14.52	15.09	-0.31
Shore Gold	SGF	37870	1.68	1.05	1.24	+ 0.26
Yamana Gold	YRI	33360	12.29	11.15	11.58	-0.02
Uranium One	UUU	31835	2.74	2.28	2.49	+ 0.19
Mercator Mnls	ML	27763	3.08	2.55	2.95	+ 0.40
Farallon Res	FAN	27693	0.46	0.40	0.44	+ 0.01
Eldorado Gold	ELD	25686	13.09	11.84	12.35	-0.10
New Gold	NGD	25385	4.41	3.75	3.81	-0.15
Equinox Minls	EQN	24632	3.33	2.96	3.22	+ 0.22
Lundin Mng	LUN	24558	4.18	3.77	3.81	-0.21

TSX greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Peregrine Diam	PGD	9302	2.04	0.60	1.85	+193.6
Copper Mesa	CUX	326	0.03	0.01	0.02	+100.0
Revett Mnls	RVM	2460	0.17	0.09	0.16	+ 60.0
Anaconda Mng	ANX	2377	0.34	0.20	0.31	+ 47.6
Gold Reserve	GRZ	1614	1.07	0.64	0.99	+ 45.5
Mountain Prov	MPV	928	3.21	1.70	2.50	+ 39.6
Zaruma Res	ZMR	1743	0.05	0.03	0.04	+ 33.3
Zazu Metals	ZAZ	330	0.24	0.18	0.22	+ 29.4
Denison Mines	DML	17779	2.07	1.64	2.05	+ 26.5
Shore Gold	SGF	37870	1.68	1.05	1.24	+ 26.5
Linear Metals	LRM	990	0.38	0.25	0.27	-27.0
CIC Energy	ELC	391	2.47	1.80	1.92	-20.0
Fortune Mnrls	FT	1019	0.72	0.60	0.60	-16.6
Opawica Expl	OPW	851	0.05	0.04	0.05	-16.6
Great Panther	GPR	3977	1.03	0.75	0.79	-15.0
US Gold Can Ac	UXE	52	3.65	3.05	3.05	-14.5
Delta Uran	DUR	891	0.07	0.05	0.06	-14.2
Fletcher Nicke	FL	26	0.08	0.06	0.06	-14.2
Spur Ventures	SVU	229	0.31	0.26	0.27	-12.9
First Quantum	FM	6736	75.92	62.18	63.48	-11.9

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Potash Cp Sask	POT	7396717	100.21	+ 3.74
Agrium	AGU	5556304	55.67	+ 2.09
Quadra Mng	QUA	6238784	14.27	+ 1.71
Inmet Mining	IMN	3150542	58.51	+ 1.37
Silver Std Res	SSO	1369513	24.18	+ 1.31
Peregrine Diam	PGD	9302315	1.85	+ 1.22
Cameco Corp	CCO	5994638	31.72	+ 0.97
Harry Winston	HW	2331905	9.55	+ 0.86
Corriente Res	CTQ	1667008	7.31	+ 0.82
Russell Metals	RUS	1128774	17.53	+ 0.76
First Quantum	FM	6735762	63.48	-8.62
Seabridge Gold	SEA	263155	30.65	-2.81
Royal Gold	RGL	15457	48.19	-2.20
Newmont Mng	NMC	37436	47.79	-1.50
Agnico-Eagle	AEM	5122208	74.01	-1.24
Barrick Gold	ABX	24528903	39.32	-1.19
Central Gold-T	GTU_U	29383	42.41	-0.92
Jaguar Mng	JAG	3326324	9.56	-0.74
Extract Res	EXT	17132	9.60	-0.70
Horizns G Bull	HGU	17391291	13.01	-0.58