Toronto Stock Exchange – April 7-13

Canadian equity indexes posted gains during the April 7-13 reporting period, in tandem with firming U. S. markets. The S&P/TSX composite index was up 269 points or 3% to 9,286, a three-month high. The Capped Metals and Mining index surged 57 points, or 14.4%, to 451, and the Capped Materials index added 3.5 points, or 1.4%, to 249.

The market advanced despite a less-than-rosy outlook for the Canadian economy. The Conference Board of Canada forecasts the nation’s gross domestic product will shrink 1.7% this year.

Mining stocks posted solid gains on firm base metal prices. Copper prices rose above US$2 per lb. on lower inventories, and nickel prices also gained ground.

TD Bank economist Dina Cover attributes the gains to rising car sales in China and higher orders for machinery in Japan. But she forecasts that nickel prices will remain low for the rest of the year on weak demand for stainless steel.

Precious metal prices were mostly flat, as gold failed to break the US$900-per-oz. barrier. But platinum continued to rally to a six-month high above US$1,200 per oz. Brokerage Canaccord Adams attributes the advance to high car sales in China, and a new platinum exchange-traded fund (ETF).

The white metal’s strength helped Eastern Platinum, which mines platinum at the Crocodile River mine in South Africa, add 15¢ to its share price to close at 58¢.

First Quantum Minerals climbed $3.93 to $43.43 after raising $346 million in a share issue. The company operates a number of copper-gold mines in Africa.

Aurizon Mines lost 7¢ to $5.14 after announcing a $50-million bought-deal private placement. The company holds the Casa Berardi gold mine and two other projects in Quebec.

The price of uranium continued to fall, dropping US$2 to US$40 per lb. of uranium oxide, but Denison Mines added 10¢ to $1.30. After the reporting period, Denison announced that Korea Electric Power Corp.

(KEPCO) is buying a 19.9% stake in Denison for $75 million, while entities controlled by Denison’s chairman, mining entrepreneur Lukas Lundin, will buy shares for about $20 million. KEPCO will also buy 20% of Denison’s uranium production.

Gold miner Iamgold added 89¢ to $9.89. In March, the company raised $345 million in an equity issue, and filed annual financial statements.

Equinox Minerals, which is mining copper at the Lumwana mine in Zambia, dropped 5¢ to $2.12. Equinox has announced a $160-million equity financing.

Mercator Minerals vaulted 68¢ to $1.52 after announcing an 11,000 oz. silver shipment to Silver Wheaton from its Mineral Park mine in Arizona. Mercator says that tonnage milled at the mine is exceeding design parameters.

TSX most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Teck B	TCKB	59251	11.12	7.87	10.99	+ 2.59
Mercator Mnls	ML	35716	1.54	0.71	1.52	+ 0.68
Equinox Minls	EQN	30541	2.18	1.80	2.12	-0.05
Breakwater Res	BWR	29654	0.12	0.09	0.12	+ 0.02
HoriznsGBull	HGU	24960	11.66	10.33	10.57	-0.25
Eastern Platin	ELR	22803	0.61	0.42	0.58	+ 0.15
Lundin Mng	LUN	21390	2.26	1.98	2.24	+ 0.18
Farallon Res	FAN	19531	0.23	0.18	0.22	+ 0.04
Yamana Gold	YRI	19437	10.49	9.85	10.07	+ 0.08
KinrossGold	K	17878	19.75	17.96	18.02	-1.10

TSX greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Virgin Metals	VGM	13675	0.04	0.01	0.04	+100.0
Zaruma Res	ZMR	1611	0.06	0.03	0.06	+100.0
Mercator Mnls	ML	35716	1.54	0.71	1.52	+ 80.9
Petaquilla Mnl	PTQ	784	0.65	0.36	0.65	+ 75.6
Fletcher Nicke	FL	96	0.05	0.02	0.05	+ 66.6
Stingray Coppr	SRY	869	0.38	0.25	0.38	+ 52.0
Niocan Inc	NIO	14	0.40	0.31	0.40	+ 48.1
Coro Mining	COP	213	0.22	0.14	0.22	+ 46.6
Timminco	TIM	3708	3.50	2.35	3.49	+ 42.4
Ursa Major Min	UMJ	136	0.11	0.08	0.11	+ 37.5
Arehada Mining	AHD	29	0.05	0.05	0.05	-28.5
African Copper	ACU	3997	0.04	0.03	0.03	-25.0
TVI Pacific	TVI	2356	0.04	0.03	0.03	-25.0
Copper Mesa	CUX	15	0.03	0.03	0.03	-25.0
BRC DiamondCr	BCD	498	0.08	0.06	0.06	-25.0
Atlanta Gold	ATG	26	0.28	0.22	0.22	-21.4
Tanz Roy Exp	TNX	954	5.39	3.90	4.16	-20.7
StrataGold	SGV	3931	0.04	0.03	0.04	-20.0
Carlisle Goldf	CGJ	100	0.05	0.04	0.04	-20.0
Armistice Res	AZ	213	0.22	0.19	0.20	-16.6

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Inmet Mining	IMN	1438258	38.61	+ 4.23
First Quantum	FM	3354910	43.43	+ 3.93
Potash Cp Sask	POT	4694002	107.44	+ 3.91
Major Drilling	MDI	406531	16.10	+ 2.80
Teck B	TCKB	59251015	10.99	+ 2.59
Teck A	TCKA	30594	12.84	+ 1.83
Seabridge Gold	SEA	105298	26.39	+ 1.40
Russell Metals	RUS	2452475	11.90	+ 1.27
Silver Std Res	SSO	398390	20.43	+ 1.23
FNX Mining	FNX	3712911	5.95	+ 1.13
Royal Gold	RGL	44381	45.21	-5.09
Agnico-Eagle	AEM	3614029	59.66	-2.16
Newmont Mng	NMC	27989	51.46	-1.59
Kinross Gold	K	17877650	18.02	-1.10
Tanz Roy Exp	TNX	954086	4.16	-1.09
Central Gold-T	GTU_U	10123	51.78	-0.73
Goldcorp	G	12331306	36.80	-0.60
Barrick Gold	ABX	14771001	35.10	-0.51
Central Fund	CEFA	2389482	13.47	-0.49
Athabasca Pota	API	1082676	2.75	-0.30