Toronto Stock Exchange June 26-29

The TSX Composite Index was up 64.71 points to 13,906.57 for the holiday-shortened June 26-29 trading period. Gains in the technology and financial sectors offset weaker performances in the materials and energy sectors.

But the news wasn’t all bad for commodities. A falling U.S. dollar and rising physical demand were seen as the drivers behind the rising price of gold. The yellow metal gained US$4 to US$654.75 per oz. over the session. The gain, however, wasn’t yet reflected in the Global Gold Index, which fell roughly 2 points to 267.98.

The Capped Metals and Mining Index came off as well, falling 7.45 points to 819.14 as nickel and zinc prices dropped. Copper, aluminum, lead and tin, however, all made gains.

A 3-way deal set up by Yamana Gold — which agreed to buy Northern Orion Resources on the condition that it can acquire two-thirds of Meridian Gold — made all three companies hot commodities on the market.

Northern Orion was the second most actively traded miner with roughly 32 million shares changing hands, and ending 23 higher at $6.07. Yamana traded over 27 million shares but lost $1.30 to finish the period at $11.83. For its part, Meridian was the period’s biggest gainer by value as it added $2.25 to close at $29.15.

While the Yamana, Northern Orion and Meridian trio grabbed most of the headlines, it was Vancouver-based Eastern Platinum that quietly occupied the top spot as the period’s most actively traded miner. Some 52 million shares of the company changed hands as its share price went up 18 to $2.39 for the session on no news.

Fronteer Development Group’s bid for Denver, Colo.-based gold explorer NewWest Gold made NewWest the period’s largest gainer by percentage. Shares in the company shot up over 32% to $3.11 after the all-paper bid was announced.

Fronteer is offering 0.26 of a share for each NewWest share, valuing NewWest at $3.20 per share, based on Fronteer’s price before the offer. NewWest shareholders would hold 18% of the merged company.

The June 26 announcement that Duluth Metals had issued a resource estimate that exceeded expectations lifted the Toronto-based company’s stock 30% to $3.00.

On the losing side was Strateco Resources. The company’s stock fell 25% to $2.24 after it announced disappointing results from its Matoush uranium project in Quebec’s Otish Mountains.

Also losing ground after announcing drill results was Vancouver-based Golden Peaks Resources. It lost 18%, closing at $2.38 on results from its La Fortuna gold project, in Argentina.

TSX greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Andean Res	AND	1031	1.40	0.67	1.05	+	61.5
Zaruma Res	ZMR	24223	0.225	0.115	0.19	+	52.0
Dynacor Mns	DYN	1887	0.85	0.58	0.82	+	41.3
Timminco	TIM	14794	6.24	4.01	5.51	+	32.7
Duluth Metals	DM	1049	2.30	1.67	2.30	+	31.4
Sterlite Gold	SGD	23	0.19	0.16	0.18	+	28.5
Grandview Gld	GVX	175	0.57	0.43	0.52	+	28.4
Starfield Res	SRU	12349	1.50	1.16	1.50	+	27.1
Sulliden Expl	SUE	1619	0.67	0.50	0.60	+	20.0
Altius Mnrls	ALS	981	19.00	15.15	18.50	+	19.6
Coalcorp wt	CCJ_T	12	1.45	1.25	1.30	–	36.5
Ascendant C wt	ACX_T	57	0.06	0.05	0.05	–	23.0
Kinross Gld wt	K_T	81	0.69	0.53	0.53	–	22.0
Carlisle Goldf	CGJ	312	0.245	0.21	0.215	–	18.8
New Gold wt	NGD_T	27	0.26	0.20	0.26	–	18.7
Glencairn G wt	GGG_T	284	0.12	0.10	0.10	–	16.6
Intl Royalty	IRC	680	7.55	6.43	6.47	–	13.7
Armistice Res	AZ	67	0.93	0.84	0.84	–	13.4
Aquila Res	AQA	352	1.70	1.46	1.46	–	13.1
GLR Res	GRS	167	0.55	0.48	0.48	–	12.7

TSX greatest value change

		VOLUME	CLOSE		CHANGE
Altius Mnrls	ALS	980767	18.50	+	3.04
Major Drilling	MDI	1361470	45.05	+	2.78
Fording C C T	FDG_U	1945862	34.22	+	1.42
Timminco	TIM	14794347	5.51	+	1.36
Laramide Res	LAM	2262084	10.60	+	1.03
Mountain Prov	MPV	384323	5.49	+	0.64
Duluth Metals	DM	1048668	2.30	+	0.55
Polaris Minls	PLS	506482	12.99	+	0.53
Russell Metals	RUS	1192708	31.42	+	0.42
Andean Res	AND	1031192	1.05	+	0.40
First Quantum	FM	1983521	93.50	–	5.87
Cameco Corp	CCO	5521339	55.08	–	3.05
FNX Mining	FNX	5733059	31.85	–	2.84
Teck Comin B	TCKB	10624813	46.63	–	2.66
Inmet Mining	IMN	1198771	83.25	–	2.23
HudBay Minls	HBM	6330544	22.90	–	2.15
Silver Std Res	SSO	321553	37.58	–	1.94
Agnico-Eagle	AEM	2890127	37.61	–	1.86
Alcan	AL	4991941	87.66	–	1.84
Potash Cp Sask	POT	4543157	83.18	–	1.80

TSX most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Breakwater Res	BWR	32990	2.93	2.68	2.93	+	0.08
UraMin	UMN	32470	8.58	8.30	8.40	–	0.23
Eastern Platin	ELR	26547	2.50	2.21	2.21	–	0.25
Zaruma Res	ZMR	24223	0.225	0.115	0.19	+	0.065
LionOre Mng In	LIM	23641	27.31	27.15	27.21		0.00
Equinox Minls	EQN	19574	3.54	3.18	3.28	–	0.27
South Am Gld&C	SAG	17810	0.045	0.035	0.045	+	0.005
Kinross Gold	K	17568	14.17	13.11	13.15	–	0.96
Uranium One	SXR	15392	15.17	13.89	14.00	–	0.96
Timminco	TIM	14794	6.24	4.01	5.51	+	1.36

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