The TSX Composite Index rose 220.73 points to set a new all-time high of 13,166.69 for the Jan. 30-Feb. 5 trading period. The rise came as commodity prices gained momentum on signs that the U.S. economy is expanding — which would feed demand for Canadian resource exports. The index’s previous record, set on Dec. 14, was 13,021 points.
Energy shares led the charge as crude oil prices hovered around US$60 a barrel and natural gas made gains on the back of cold winds blowing into the eastern U.S.
The price of gold continued its steady climb; it set a 6-month high, reaching US$660 per oz., before finishing the period at US$649.40. The Global Gold Index was up nearly 3% at 324.10 points.
The Capped Metals & Mining Index didn’t fare as well. Copper, tin and zinc all weakened, while gains made in the prices of aluminum and nickel weren’t enough to save the diversified miners from an 8.5-point drop to 622.81.
Campbell Resources enjoyed the market’s attention, despite having released no news. The Montreal-based junior with gold and copper projects in Quebec was up 32% to 17 on 46 million shares traded.
Tiomin Resources was the period’s next most popular miner, but didn’t enjoy the attention as much. The Toronto-based company, which holds the Kwale mineral sands project in Kenya, announced that ATW Venture would not bail it out of its financial troubles by buying 50% of its Kenyan assets as it originally announced on Jan. 26. Tiomin was the period’s biggest loser, down 36% to 9 on 36 million shares.
Moving its Tanjianshan mine in China into commercial production as gold prices continued to strengthen helped push Eldorado Gold up 51 to $6.95 on roughly 29 million shares traded.
Also rising on positive news was Minires du Nord (MDN). The Montreal-based gold miner was up nearly 32% to $1.00 after announcing drill results from its Tulawaka gold project in Tanzania. MDN holds a 30% stake in Tulawaka while Barrick Gold holds the remainder. Barrick was up $1.53 to $35.99 for the period.
Fellow gold companies Gold Reserve and NewWest Gold also rose with the price of the yellow metal. Gold Reserve was up 41% at $5.77 despite continued political worries in Venezuela, where its Brisas gold property is located.
New West Gold rose nearly 40% to 49 after announcing that a drill program had extended near-surface mineralization by 700 ft. at its Silica Ridge deposit in Nevada.
Other gold miners making significant gains were Meridian Gold, up $2.10 to $34.71, and Agnico-Eagle Mines, up $1.42 to $47.50.
The decline in copper — it finished the period at US$2.39 per lb. — brought Aur Resources down 78 to $21.67; First Quantum Minerals down 72 to $60.02; and Quadra Mining, down 68 to $8.05.
TSX most active issues
VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Campbell Res | CCH | 45717 | 0.165 | 0.115 | 0.165 | +0.04 |
Tiomin Res | TIO | 36467 | 0.145 | 0.085 | 0.09 | -0.05 |
Eldorado Gold | ELD | 28609 | 7.05 | 6.36 | 6.95 | +0.51 |
Kinross Gold | K | 22933 | 16.00 | 15.00 | 15.52 | +0.12 |
Bema Gold | BGO | 22283 | 7.00 | 6.63 | 6.82 | +0.04 |
Chariot Res | CHD | 21655 | 0.80 | 0.70 | 0.79 | +0.10 |
Goldcorp | G | 18326 | 33.42 | 31.79 | 32.38 | +0.53 |
Nuinsco Res | NWI | 15894 | 1.54 | 1.25 | 1.47 | +0.01 |
Breakwater Res | BWR | 13397 | 1.81 | 1.65 | 1.66 | -0.05 |
LionOre Mng In | LIM | 12998 | 13.94 | 13.05 | 13.20 | -0.46 |
TSX greatest percentage change
VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Peregrine D wt | PGD.WT | 80 | 0.35 | 0.10 | 0.27 | +200.0 |
HMZ Metals wt | HMZ.WT | 595 | 0.015 | 0.005 | 0.015 | +50.0 |
Gold Reserve | GRZ | 588 | 6.10 | 4.00 | 5.77 | +41.4 |
NEMI Nor En&Mg | NNE.A | 1523 | 0.51 | 0.33 | 0.485 | +40.5 |
NewWest Gold | NWG | 33 | 2.45 | 1.75 | 2.45 | +39.2 |
Campbell Res | CCH | 45717 | 0.165 | 0.115 | 0.165 | +32.0 |
Minieres duNrd | MDN | 4301 | 1.07 | 0.75 | 1.00 | +31.5 |
Franc-Or Res | FOR | 558 | 0.34 | 0.26 | 0.335 | +31.3 |
Apollo Gold | APG | 3643 | 0.73 | 0.55 | 0.72 | +26.3 |
Twin Mining | TWG | 12544 | 0.12 | 0.085 | 0.10 | +25.0 |
Tiomin Res | TIO | 36467 | 0.145 | 0.085 | 0.09 | -35.7 |
SouthernEra wt | SDM.WT | 111 | 0.08 | 0.06 | 0.06 | -25.0 |
Golden China R | GCX | 430 | 1.13 | 0.91 | 0.92 | -19.3 |
Glencairn G wt | GGG.WT | 1554 | 0.18 | 0.15 | 0.15 | -16.6 |
Ontex Res | ONT | 322 | 0.23 | 0.18 | 0.20 | -16.6 |
Richview Res | RVR | 2324 | 0.225 | 0.17 | 0.185 | -15.9 |
Golden Str wtA | GSC.WT.A | 722 | 0.055 | 0.03 | 0.03 | -14.2 |
Wallbridge Mng | WM | 1063 | 0.59 | 0.49 | 0.50 | -13.7 |
Canadn Zinc | CZN | 1688 | 0.82 | 0.68 | 0.69 | -13.7 |
Thundermin Res | THR | 442 | 0.115 | 0.095 | 0.10 | -13.0 |
TSX greatest value change
VOLUME | CLOSE | CHANGE | ||
Silvercorp Mtl | SVM | 1015097 | 18.93 | +2.18 |
Meridian Gold | MNG | 1893431 | 34.71 | +2.10 |
Aber Diamond | ABZ | 870875 | 45.95 | +1.91 |
CIC Energy | ELC | 419241 | 15.60 | +1.75 |
Gold Reserve | GRZ | 588395 | 5.77 | +1.69 |
Barrick Gold | ABX | 10984901 | 35.99 | +1.63 |
Pan Am Silver | PAA | 871677 | 34.35 | +1.53 |
Pan Am Silv wt | PAA.WT | 32151 | 22.63 | +1.42 |
Agnico-Eagle | AEM | 3781869 | 47.50 | +1.42 |
Alcan | AL | 8988505 | 59.60 | +1.40 |
Potash Cp Sask | POT | 1878681 | 177.46 | -5.79 |
Lundin Mng | LUN | 3251443 | 12.49 | -1.195 |
FNX Mining | FNX | 3991759 | 16.98 | -1.12 |
Labdr I-Ore Ro | LIF.UN | 255251 | 27.24 | -1.07 |
Forsys Metals | FSY | 2955538 | 6.70 | -0.80 |
Aur Res | AUR | 3521080 | 21.67 | -0.78 |
First Quantum | FM | 2828631 | 60.02 | -0.72 |
Quadra Mng | QUA | 1154375 | 8.05 | -0.68 |
Skye Res | SKR | 636231 | 12.20 | -0.60 |
Tanz Roy Exp | TNX | 1290277 | 6.04 | -0.56 |
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