Toronto Stock Exchange August 8-14

The TSX finished the Aug. 8-14 period down 86.52 points to 11,850.16 with falling metal and oil prices labelled the main culprit.

The gold index tracked the price of gold, falling 4.6% or 13.82 points to 298.99. The price of gold was down 4% for the period as a ceasefire between Hezbollah and Israeli forces took hold, effectively taking away the safe-haven momentum, which analysts say has been driving the price of the yellow metal up.

The diversified miners followed the downward trend, if only to a lesser extent, falling 3 points to 569.93. The price of copper, zinc, silver and platinum all fell for the period, while nickel managed to make a 5% gain to US$13.24 per lb.

Vancouver-based EuroZinc Mining was the most actively traded mining company on the exchange. The owner of copper and zinc assets in Portugal, EuroZinc reported second-quarter financials that showed a three-fold increase in earnings — to 14 per share from 4 per share for the same period last year.

Bema Gold’s shares were the next most popular on the announcement of second-quarter financial results and drilling results from its 75%-owned Kupol project in Russia. Second-quarter financials were highlighted by record quarterly revenue and record mine operating cash flows. Highlights from Kupol included an intercept of 6.3 metres grading 50.62 grams gold per tonne gold and 1,701.3 grams silver per tonne.

The Falconbridge and Inco saga kept the two miners near the top of the most-active list. Xstrata now owns 92.1% of Falconbridge after nearly 258 million shares were tendered to its offer. The Swiss miner has extended its bid until Aug. 25, and will thereafter compulsorily acquire any shares still outstanding. Xstrata says it has already begun integration of the two businesses.

As for Inco, the company says it remains committed to its planned union with U.S.-based copper miner Phelps Dodge, but would be open to talks with Companhia Vale do Rio Doce. Inco says the Brazilian diversified miner’s recent all-cash bid of $86.00 per share could ultimately lead to a superior offer to Phelps cash-and-scrip offer.

Blue Pearl Mining showed the biggest percentage gain for the period — swelling 33.8% to $2.43 on no news. The company’s Davidson project in B.C. has measured and indicated resources of 588 million lbs. molybdenum.

Lead-producer Ivernia suffered the biggest percentage decline in share price for the period. The Toronto-based company reported a net loss of $3.8 million and a 24% decline in revenue for the second quarter, compared with the previous quarter. The company blamed weaker lead prices for the decline as well as lower volumes of lead concentrates shipped. Ivernia shares were off roughly 21% for the period, and were trading at $1.21 at presstime.

Aber Diamond was one of the biggest gainers by value for the period. The company, which has a joint venture with Rio Tinto for the Diavik mine, was up $3.55 to $40.32 for the period. Aber projects an increase in this year’s production to roughly 11 million carats — a 3 million carat increase over last year’s 8 million carat production.

TSX greatest percentage change

VOLUME(000s) HIGH LOW CLOSE CHANGE
Blue Pearl wt BLE.WT 117 2.43 1.67 2.41 +33.8
Blue Pearl Mng BLE 1791 3.11 2.35 3.09 +23.6
Gitennes Expl GIT 135 0.33 0.26 0.32 +20.7
Yorbeau Res A YRB.A 216 0.36 0.265 0.36 +20.0
Imperial Metal III 435 11.43 9.65 11.39 +18.6
Brazilian Diam BDY 382 0.245 0.20 0.245 +16.6
Moydow Mns Int MOY 31 0.27 0.23 0.27 +14.8
Frontera Cp wt FCC.WT 194 2.00 1.65 1.86 +12.7
BrazMin BZM 135 1.35 1.09 1.32 +10.9
UEX Corp UEX 1425 3.76 3.25 3.68 +10.8
Ivernia IVW 886 1.67 1.27 1.34 -20.7
Taseko Mines TKO 5006 3.22 2.45 2.45 -20.4
Northgate M wt NGX.WT 799 1.52 1.13 1.20 -20.0
Northgate wtA NGX.WT.A 187 1.51 1.15 1.24 -18.9
Glencairn G wt GGG.WT 178 0.34 0.28 0.28 -16.4
Alamos Gold AGI 3228 10.10 8.00 8.37 -16.1
Nevsun Res Wt NSU.WT 20 1.60 1.26 1.27 -15.3
Zaruma Res ZMR 835 0.14 0.115 0.115 -14.8
Pine Valley Mg PVM 85 1.05 0.89 0.90 -14.2
Jaguar Nickel JNI 1477 0.29 0.24 0.24 -14.2

TSX greatest value change

VOLUME CLOSE CHANGE
Potash Cp Sask POT 1095574 108.50 +3.59
First Quantum FM 1641758 55.85 +3.55
Aber Diamond ABZ 980868 40.32 +3.52
Imperial Metal III 435268 11.39 +1.79
Vista Gold VGZ 85905 12.50 +1.09
Fording C C T FDG.UN 1397164 33.40 +0.96
Blue Pearl wt BLE.WT 116500 2.41 +0.61
Blue Pearl Mng BLE 1791450 3.09 +0.59
Anvil Mining AVM 671843 8.85 +0.53
Skye Res SKR 269906 11.88 +0.43
Agnico-Eagle AEM 2683543 39.14 -2.47
ISh COMEX G Tr IGT 18875 70.50 -2.19
Glamis Gold GLG 3754791 40.00 -2.16
Teck Comin B TCK.B 13882325 79.00 -2.15
Gammon Lk Res GAM 1443124 14.43 -2.07
Agnico-Eag wt* AEM.WT.U 48775 18.10 -1.90
Alcan AL 7039713 51.40 -1.65
Newmont Mng NMC 268940 57.37 -1.62
Alamos Gold AGI 3228137 8.37 -1.61
Barrick Gold ABX 12857167 34.35 -1.58

TSX most active issues

VOLUME(000s) HIGH LOW CLOSE CHANGE
EuroZinc Mng EZM 29164 3.21 2.92 3.16 +0.06
Bema Gold BGO 27125 6.57 5.95 5.98 -0.45
Inco Ltd N 25677 89.25 83.25 88.80 -0.42
Falconbridge FAL 19802 62.44 62.20 62.37 +0.13
Kinross Gold K 17002 14.56 13.46 13.79 +0.20
Breakwater Res BWR 14384 1.40 1.22

1.30 +0.06
Teck Comin B TCK.B 13882 81.04 72.42 79.00 -2.15
Barrick Gold ABX 12857 36.96 34.30 34.35 -1.58
Eastern Platin ELR 12099 1.40 1.20 1.25 -0.05
HudBay Minls HBM 10837 17.05 14.84 15.10 -1.49
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