Toronto stock exchangeJanuary 4-7

The resource-heavy TSX composite index closed the holiday-shortened Jan. 4-7 week for a loss as commodity prices pulled back from record territory on generally positive U.S. economic news that sent gold into a tailspin.
The index fell 170.92 points to close at 13,272.3, as investors sold off resource stocks in the face of a stronger U.S. currency. Crude oil retreated to US$88.03 per barrel, down US$3.32.
With the price of gold shedding US$52.50 to finish at US$1,368.90 an oz., and the spot price of silver off 7.1% at US$28.73 per oz., the Global Gold index was down 7.7% at 388.43. Barrick Gold dropped $4.43 to end at $48.69, Goldcorp lost $3.38 at $42.50, Newmont Mining gave back $4.68 to finish at $56.55 and Agnico-Eagle Mines was down $6.80 at $69.80.
Silver stocks took a beating as well. Silver Wheaton ended at $33.19 for a loss of $5.79, Pan American Silver slipped $4.33 to $36.60 and Silver Standard Resources finished at $24.24, down $3.57.
Cline Mining, one of the most active issues, ended at $4.25, up 21¢. In December, the company received government approval to begin underground mining at its New Elk coal mine in southern Colorado. Production will increase steadily over 2011, with the goal of reaching a rate of 3 million tonnes coal annually by year-end.
After fending off BHP Billiton’s hostile $130-a-share bid, a growing demand for food and fertilizer is pushing Potash Corp. of Saskatchewan’s stock even higher. It closed up $11.37 to $165.82.
Shares in uranium producers and exploration companies alike reacted negatively to media reports that China has developed technology to better reprocess spent nuclear fuel, which if true, could potentially reduce future uranium demand and have a negative impact on prices. Uranium One slipped 23¢ in heavy trading to $4.53.
Vista Gold jumped 57¢ to $2.95 on news that it doubled reserves to 4.1 million oz. gold at its Mt. Todd gold project in Australia. An updated prefeasibility study shows reworked capital costs of US$590 million for a 30,000-tonne-per-day open-pit and milling scenario that would produce 240,000 oz. gold annually over a 14-year life at a cash cost of US$530 per oz. The project throws off an after-tax internal rate of return of 10.7%.
Newly-listed Emed Mining ended at 29¢ for a 61% gain. With 673 million shares outstanding, the junior recently closed a $32.5-million initial public offering in Canada and concurrent private placement in the U.K. priced at 13.5¢ per share. Emed is focused on its 100% owned Rio Tinto copper mine project in Spain and the Detva gold project in Slovakia, while owning 20% of Kefi Minerals, which is exploring for gold and copper in Turkey and Saudi Arabia.

TSX most active issues
    VOLUME    WEEK
    (000s)    HIGH    LOW    CLOSE    CHANGE
Cline Mng    CMK    24601    4.72    4.22    4.25    +    0.21
Canada Lithium    CLQ    23647    2.11    1.58    1.74    –    0.25
Equinox Minls    EQN    21701    6.20    5.99    6.09    –    0.02
Emed Mining    EMD    20332    0.32    0.18    0.29    +    0.11
MagIndustries    MAA    18862    0.28    0.24    0.27    +    0.03
Kinross Gold    K    18401    18.63    17.23    17.35    –    1.56
Eastern Platin    ELR    17425    1.81    1.73    1.77        0.00
Baffinland Irn    BIM    15719    1.46    1.42    1.42    –    0.01
Lundin Mng    LUN    15281    7.48    6.97    7.07    –    0.19
Uranium One    UUU    15133    4.88    4.46    4.53    –    0.23

TSX greatest percentage change
    VOLUME    WEEK
    (000s)    HIGH    LOW    CLOSE    CHANGE
Emed Mining    EMD    20332    0.32    0.18    0.29    +    61.1
Revolution Res    RV    3163    0.69    0.47    0.66    +    37.5
MBAC Fertilizr    MBC    2822    3.45    2.41    3.28    +    34.4
Dynacor Gold M    DNG    775    1.70    1.26    1.68    +    29.2
Golden Peaks    GL    211    0.67    0.55    0.67    +    24.0
Vista Gold    VGZ    682    3.25    2.53    2.95    +    23.9
TriAusMin    TOR    784    0.14    0.10    0.13    +    18.1
Timminco    TIM    4535    0.42    0.34    0.41    +    17.1
Energy Fuels    EFR    9529    1.37    0.81    1.04    +    16.8
Powertech Uran    PWE    1407    0.50    0.29    0.35    +    16.6
Noventa    NTA    378    0.44    0.19    0.19    –    51.2
Silver Bear Rs    SBR    508    0.71    0.48    0.54    –    26.0
Candente Coppr    DNT    4623    1.93    1.38    1.45    –    20.3
Crosshair E&Mg    CXX    1578    2.46    1.93    1.99    –    20.0
UEX Corp    UEX    4531    2.29    1.72    1.82    –    19.1
Greystar Res    GSL    2610    4.08    3.23    3.28    –    18.8
Extorre Gold M    XG    2316    6.65    5.27    5.49    –    18.4
Great Panther    GPR    7299    2.76    2.06    2.27    –    18.3
Inter-Citic Mn    ICI    1575&n
bsp;   2.37    1.93    1.93    –    18.2
Moly Mines    MOL    14924    1.77    1.28    1.34    –    17.2

TSX greatest value change
        WEEK
    VOLUME    CLOSE    CHANGE
Potash Cp Sask    POT    3404807    165.82    +    11.37
First Quantum    FM    3606280    114.65    +    6.65
Horizns G Bear    HGD    3228989    10.61    +    1.49
SouthGobi Res    SGQ    893021    13.50    +    1.32
Grande Cache C    GCE    11917404    11.74    +    1.27
Ivanhoe Mines    IVN    2200063    23.90    +    0.90
MBAC Fertilizr    MBC    2821674    3.28    +    0.84
Vista Gold    VGZ    681552    2.95    +    0.57
Xinergy    XRG    2301845    3.96    +    0.51
Migao    MGO    2228607    8.25    +    0.47
Agnico-Eagle    AEM    4623274    69.80    –    6.80
Silver Wheaton    SLW    11546721    33.19    –    5.79
Newmont Mng    NMC    35567    56.55    –    4.68
Royal Gold    RGL    18950    49.52    –    4.60
Barrick Gold    ABX    14059575    48.69    –    4.43
Pan Am Silver    PAA    1694722    36.60    –    4.33
Silver Std Res    SSO    712569    24.24    –    3.57
Goldcorp    G    13953484    42.50    –    3.38
Central Gold-T    GTU_U    15891    50.96    –    3.29
Coeur d Alene    CDM    129401    24.03    –    3.24