Rising tension in the Middle East was the main fear factor driving up prices for energy and gold over the report period April 11-17. Investors bid up shares of gold, oil and copper producers, but gave coal companies the cold shoulder. The Standard & Poor’s 500 Index see-sawed over the period, shedding 11.29 points to close at 1,285.33, while the Dow Jones Industrial Average lost almost 100 points to close at 11,073.78 over the Easter holiday-shortened trading session.
Bargain-hunters pushed several relatively unknown junior companies onto the most-active list, with most up a few pennies from a few pennies. One solid junior churning out steady news on the exploration front is GeoCom Resources, which holds the Illiama copper-gold porphyry project in Alaska, and various gold and base metal prospects in Chile and Argentina. The company’s shares gained 52% in active trading to close at US58.
Newmont Mining, always a favourite with gold bugs, rose with the gold price and closed at US$56.07, up US$3.17 from a week earlier.
Diversified miner Rio Tinto was the biggest value gainer, up US$5.29 to US$223.19. The highly profitable company has been an enduring investor’s favourite in recent years.
Freeport-McMoRan Copper & Gold rallied after the government of Indonesia voiced support for the company’s rights to the vast Grasberg copper-gold mine on the island of Papua. Recent demonstrations near the mine had led to speculation that the company was no longer welcome by local citizens. Few people realize that only a handful of people lived in the remote highlands before the huge deposit was discovered and explored decades ago. Freeport shares finished at US$65.19, up US$3.42.
Copper giant Phelps Dodge has been rolling in profits and rolling out hefty dividends to shareholders in recent quarters. The company’s shares closed at US$87.48, up US$3.34.
On the down side, Potash Corp. of Saskatchewan lost US$4.77 to close at US$86.86, while Chinese coal producer Yangzhou Coal was off $1.24 at $43.86.
U.S. greatest percentage change
Volume(000s) | High | Low | Close | Change | ||
AuGrid* | AUGC | 12043 | 0.002 | 0.001 | 0.002 | +100.0 |
Geocom Res* | GOCM | 747 | 0.60 | 0.374 | 0.58 | +52.6 |
Lafayette Mng* | LYMGF | 52 | 0.12 | 0.08 | 0.12 | +33.3 |
Northgate Mnl* | NXG | 8486 | 3.56 | 2.77 | 3.54 | +27.8 |
Alberta Star * | ASXSF | 1424 | 2.40 | 1.86 | 2.32 | +25.4 |
Sterling Mini* | SRLM | 1031 | 5.99 | 4.75 | 5.90 | +24.2 |
Pac Gold* | PCFG | 15430 | 0.74 | 0.40 | 0.59 | +20.4 |
Grand Cen Sil* | GSLM | 21 | 0.75 | 0.63 | 0.75 | +19.0 |
Fischer-W Gld* | FWGO | 644 | 0.10 | 0.084 | 0.10 | +17.6 |
El Capitan Pr* | ECPN | 1229 | 2.845 | 2.33 | 2.82 | +16.0 |
Goldspring* | GSPG | 53608 | 0.016 | 0.013 | 0.013 | -18.7 |
US Antimony* | UAMY | 56 | 0.80 | 0.60 | 0.61 | -12.8 |
Halo Res* | HLOSF | 18 | 0.525 | 0.525 | 0.525 | -12.5 |
Tara Gold* | TRGD | 3243 | 0.44 | 0.335 | 0.37 | -11.9 |
Coral Gold* | CGREF | 103 | 5.12 | 4.00 | 4.63 | -9.7 |
World Vent* | WVNTF | 202 | 0.42 | 0.37 | 0.38 | -9.5 |
Pine Valley M* | PVMCF | 242 | 1.56 | 1.40 | 1.41 | -9.0 |
New Jersey Mg* | NJMC | 276 | 0.73 | 0.59 | 0.65 | -8.4 |
CanAlaska Ven* | CVVLF | 656 | 0.69 | 0.561 | 0.60 | -7.4 |
Madison Minls* | MMRSF | 422 | 0.439 | 0.309 | 0.40 | -6.9 |
U.S. greatest value change
Volume | Close | Change | ||
Rio Tinto* | RTP | 1068800 | 223.19 | +5.29 |
Freeport McMo* | FCX | 9693700 | 65.19 | +3.42 |
Phelps Dodge* | PD | 11245600 | 87.48 | +3.34 |
Newmont Mng* | NEM | 21966200 | 56.07 | +3.17 |
Southern Peru* | PCU | 3843100 | 94.50 | +3.08 |
Inco Ltd* | N | 6834200 | 55.82 | +2.85 |
Cameco Corp* | CCJ | 3088500 | 39.89 | +2.44 |
Randgold Res* | GOLD | 1629281 | 22.45 | +2.30 |
Gold Fields* | GFI | 7447500 | 24.00 | +2.11 |
Falconbridge* | FAL | 474400 | 38.86 | +1.95 |
Potash C Sask* | POT | 2452200 | 86.86 | -4.77 |
Cleveland-Cli* | CLF | 1384700 | 88.28 | -2.07 |
Yanzhou Coal* | YZC | 101900 | 43.86 | -1.24 |
Westmoreland* | WLB | 70800 | 28.05 | -1.15 |
Peabody Enrgy* | BTU | 6952500 | 51.36 | -0.97 |
Massey Energy* | MEE | 5830500 | 35.81 | -0.77 |
Cabot Corp* | CBT | 865300 | 33.14 | -0.73 |
FNX Mining* | FNX | 124500 | 11.68 | -0.69 |
Foundatn Coal* | FCL | 1980700 | 41.90 | -0.57 |
Buenaventura* | BVN | 2947700 | 25.40 | -0.55 |
U.S. most active issues
Volume(000s) | High | Low | Close | Change | ||
UNICO Inc* | UNCN | 951574 | 0.002 | 0.001 | 0.002 | 0.00 |
Goldspring* | GSPG | 53608 | 0.016 | 0.013 | 0.013 | -0.003 |
Alcoa* | AA | 33509 | 35.30 | 33.42 | 34.00 | +1.17 |
Newmont Mng* | NEM | 21966 | 56.08 | 51.39 | 56.07 | +3.17 |
Coeur d Alene* | CDE | 16913 | 6.99 | 6.48 | 6.97 | +0.31 |
Pac Gold* | PCFG | 15430 | 0.74 | 0.40 | 0.59 | +0.10 |
Silverado* | SLGLF | 13326 | 0.14 | 0.121 | 0.139 | +0.004 |
Barrick Gold* | ABX | 12898 | 30.18 | 28.37 | 30.12 | +0.73 |
AuGrid* | AUGC | 12043 | 0.002 | 0.001 | 0.002 | +0.001 |
Crystallex In* | KRY | 11691 | 6.20 | 5.15 | 6.00 | +0.34 |
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