Toronto Stock Exchange February 20-26

The TSX Composite Index just won’t settle for a record high — it keeps breaking them. After posting all-time highs for the previous period, the index finished the Feb. 20-26 trading period with a new benchmark of 13,404.46 — up 112.91 points over the previous week’s close.

The surge was led by the information technology sector, which was the biggest gainer, but it was followed by the materials, financial and telecommunication sectors, respectively.

The energy sector also rose on a jump in crude oil and natural gas prices. Renewed concerns over Iran’s stubbornness regarding its nuclear program created fears of a disruption in Middle East supplies.

A 2% gain in the price of gold to US$685 an oz. — a 9-month high — pushed the Global Gold Index up nearly 3%. The group was up to 337.96 points.

Stronger prices for copper, aluminum, nickel, tin, lead and zinc brought the Metals & Mining Index up 22.72 points to 683.24.

Breakwater Resources gained 24 to $2.09 after announcing tasty profits and an increase in its reserves for 2006 of 3% over the previous year. Reserves of 15.6 million tonnes averaging 7.3% zinc replace all that the company mined last year and then some. The news helped make Breakwater the period’s most popular miner, as the company with zinc mines in Canada, Chile and Honduras saw roughly 73 million shares trade hands.

A resurgence in copper prices — the red metal gained 11% to US$2.84 per lb. — brought renewed attention to its miners. Equinox Minerals was the period’s second most traded miner, posting a 14 gain to $2.19 on volume of 49 million shares, while Constellation Copper rounded out the top three with a 13 gain to $1.45 on 47 million shares traded.

Rubicon Minerals was the period’s largest gainer by percentage. News that Rob McEwen of Goldcorp fame was set to acquire 35% of the Vancouver-based company with its 728 sq. km of exploration ground in Red Lake, Ont., gave its shares a 54% spike to $1.33 on Feb. 26. Rubicon’s flagship project is the McFinley Red Lake drilling project. For McEwen, the move represents a return to the area where deep gold discoveries at the old Dickenson mine made Goldcorp a big player.

Precious metals miners topped the largest gainers by value list, lifted by stronger gold and silver prices. Royal Gold gained $4.81 to $40.81, while Pan American Silver was up $3.75 to $36.85, and Agnico-Eagle Mines continued its steady climb, ending the week $2.36 higher at $48.47.

Diamond Fields International gained 35% to 23 on the period after it announced it would continue its joint venture with Bonaparte Diamond Mines on its underwater diamond concessions in Namibia. The company announced that the first 18 days of mining yielded 2,612 stones weighing 1,343 carats with the average stone size being 0.53 carat.

TSX greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Rubicon Mnrls	RMX	8686	1.34	0.65	1.33	+	95.5
Diamond Fields	DFI	19478	0.275	0.175	0.23	+	35.2
QGX	QGX	309	2.70	1.95	2.60	+	30.0
Cardero Res	CDU	990	2.40	1.80	2.40	+	29.7
Kinross Gld wt	K_T	889	1.15	0.78	1.15	+	29.2
Candente Res	DNT	10502	1.78	1.08	1.40	+	27.2
Aquiline Res	AQI	1281	9.39	7.30	9.30	+	25.6
Olympus Pacif	OYM	8894	0.72	0.50	0.64	+	25.4
Minco Mng & Me	MMM	1137	2.40	1.71	2.15	+	25.0
Cusac Gold	CQC	3817	0.315	0.24	0.30	+	25.0
Coalcorp wt	CCJ_T	4323	0.31	0.22	0.23	–	25.8
Twin Mining	TWG	6093	0.09	0.075	0.075	–	21.0
Grande Cache C	GCE	2175	0.67	0.50	0.53	–	20.9
Capital Gold	CGC	290	0.58	0.47	0.50	–	16.6
Niocan Inc	NIO	73	0.60	0.55	0.57	–	16.1
Coalcorp Mng	CCJ	26775	0.78	0.62	0.64	–	13.5
Opawica Expl	OPW	2365	0.125	0.105	0.11	–	12.0
Carlisle Goldf	CGJ	408	0.345	0.27	0.31	–	8.8
Gold Reserve	GRZ	190	6.18	5.56	5.56	–	8.8
Corriente Res	CTQ	1493	2.93	2.61	2.71	–	8.1

TSX greatest value change

		VOLUME	CLOSE		CHANGE
Royal Gold	RGL	24579	40.81	+	4.81
Pan Am Silver	PAA	931770	36.85	+	3.75
Pan Am Silv wt	PAA_T	41120	24.99	+	3.74
FNX Mining	FNX	8398446	21.35	+	3.52
Cameco Corp	CCO	9390831	45.73	+	3.08
Potash Cp Sask	POT	1170423	191.20	+	2.94
Fording C C T	FDG_U	2238717	29.13	+	2.57
First Quantum	FM	2725613	72.38	+	2.40
Agnico-Eagle	AEM	6113471	48.47	+	2.36
LionOre Mng In	LIM	13084052	16.99	+	2.35
Meridian Gold	MNG	1940209	34.04	–	1.78
Teck Comin B	TCKB	6046979	85.51	–	1.72
Aber Diamond	ABZ	945704	43.25	–	0.61
Gold Reserve	GRZ	190031	5.56	–	0.54
Altius Mnrls	ALS	348374	10.35	–	0.40
Mines Managmnt	MGT	31225	6.79	–	0.39
IAMGold Corp	IMG	18011460	10.32	–	0.36
Platmin	PPN	91774	7.20	–	0.30
Barrick Gold	ABX	19027201	36.36	–	0.25
Inmet Mining	IMN	1858715	62.14	–	0.24

TSX most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Breakwater Res	BWR	73188	2.09	1.73	2.09	+	0.24
Equinox Minls	EQN	48842	2.24	2.02	2.19	+	0.14
Constel Copper	CCU	46842	1.46	1.30	1.45	+	0.13
Dynatec Corp	DY	40372	2.77	2.21	2.70	+	0.48
Kinross Gold	K	38318	16.99	15.01	16.99	+	1.49
Coalcorp Mng	CCJ	26775	0.78	0.62	0.64	–	0.10
Bema Gold	BGO	22807	7.51	6.57	7.46	+	0.67
Paladin Res	PDN	22599	9.80	9.01	9.22	–	0.16
Goldcorp	G	21362	33.58	31.66	33.25	+	0.59
Diamond Fields	DFI	19478	0.275	0.175	0.23	+	0.06