Toronto Stock Exchange – Sept. 8-14

The S&P/TSX composite index gained 226.74 points or 2.04% over the Sept. 8-14 reporting period, closing at 11,332.04. The Capped Metals and Mining index increased 14.93 points or 1.78% to finish at 853.09.

Inmet Mining posted the largest value gain for the week after announcing a strategic alliance agreement with well-heeled Korea Resources Corp. Under the agreement, the two companies will “pursue common shared interests” and will be preferred partners for the “co-operative development of opportunities.” Inmet jumped $4.21 per share to close at $57.14.

Labrador Iron Ore Royalty Income Fund experienced the second-biggest value gain (on no news) with a rise of $3.20 per share to $37.25. The fund holds a 15.1% stake in the Iron Ore Company of Canada and receives a 7% gross overriding royalty and a 10¢-per-tonne commission on all iron ore products that IOC produces, sells and ships.

First Quantum Minerals turned in the third-largest value gain (rising $2.85 to $72.10 per share), despite a Bloomberg article on Sept. 14 that quoted the deputy mines minister of the Democratic Republic of the Congo as saying the government’s decision to cancel the company’s mining contract was “final.” The government cancelled the contract for First Quantum’s 65%-owned Kolwezi copper-cobalt project in Katanga province in August. When contacted at presstime, First Quantum’s investor relations spokeswoman Sharon Loung, said she couldn’t comment on the report, but noted that “arbitration is still a right under our contract.”

Rising precious metal prices lifted the stock of Coeur d’Alene Mines by $2.68 apiece to $21.33 on no news, while Agnico-Eagle Mines climbed $2.10 to $75.25. The gold miner released an exploration update for the year on Sept. 8, noting that new discoveries had increased the size of the mineralized envelopes of several of its deposits and that the company expects to increase its total gold reserves and resources by yearend — over and above the amount mined during the year. Under its $54-million 2009 exploration program, Agnico plans to complete about 221 km of drilling using more than 35 rigs.

Cameco Corp. rose $1.65 to $30.75 despite news that unionized employees at Cameco Fuel Manufacturing went on strike Sept. 5 after failing to reach a new collective agreement. The last contract for CFM’s plants in Port Hope and Cobourg, in Ontario, expired on June 1. The strike does not involve Cameco’s conversion facility in Port Hope.

Finally, Fletcher Nickel posted the biggest percentage gain — leaping 75% to 7¢ per share on news that a geological assessment of drilling and metallurgical data has determined that a potentially large-tonnage nickel deposit, which may be minable by open pit, has been identified on its Texmont property.

TSX most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
First Metals	FMA	40007	0.03	0.01	0.03	-0.01
Yamana Gold	YRI	35305	12.10	10.83	11.60	+ 0.15
Equinox Minls	EQN	34685	3.14	2.90	3.00	+ 0.12
Barrick Gold	ABX	30706	45.07	39.51	40.51	-2.99
Eastern Platin	ELR	29923	0.61	0.51	0.60	+ 0.03
Uranium One	UUU	23264	2.58	2.26	2.30	-0.20
Eldorado Gold	ELD	23152	12.97	11.80	12.45	+ 0.23
HoriznsGBull	HGU	22037	14.77	12.42	13.59	-0.24
Silver Wheaton	SLW	20695	13.87	12.21	13.25	+ 0.60
KinrossGold	K	20459	24.92	22.67	23.92	+0.12

TSX greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Fletcher Nicke	FL	452	0.08	0.05	0.07	+ 75.0
Katanga Mng	KAT	14604	1.07	0.61	0.86	+ 56.3
Stornoway Diam	SWY	2419	0.17	0.13	0.17	+ 54.5
Shore Gold	SGF	7562	1.00	0.67	0.98	+ 44.1
Crescent Gold	CRA	14	0.14	0.14	0.14	+ 40.0
Australn Solom	SGA	1566	0.38	0.28	0.37	+ 37.0
Etruscan Res	EET	2736	0.34	0.28	0.34	+ 36.0
Longview Cap	LV	530	0.09	0.06	0.08	+ 33.3
Great Panther	GPR	6846	1.25	0.79	0.93	+ 32.8
Orbit Garant D	OGD	227	3.03	2.17	2.90	+ 32.4
Opawica Expl	OPW	525	0.06	0.05	0.05	-91.6
Atlanta Gold	ATG	1105	0.19	0.09	0.12	-42.8
First Metals	FMA	40007	0.03	0.01	0.03	-25.0
Lydian Intl	LYD	446	0.76	0.60	0.63	-19.2
Petaquilla Mnl	PTQ	661	0.46	0.37	0.37	-17.7
Jaguar Mng	JAG	4442	12.82	9.75	10.30	-15.8
Sulliden Expl	SUE	2071	1.06	0.75	0.79	-13.1
Thundermin Res	THR	510	0.18	0.15	0.15	-11.7
Avnel Gold	AVK	365	0.17	0.15	0.15	-11.7
AuEx Vent	XAU	153	2.88	2.48	2.48	-11.7

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Inmet Mining	IMN	2743884	57.14	+ 4.21
Labdr I-Ore Ro	LIF_U	449535	37.25	+ 3.20
First Quantum	FM	3613557	72.10	+ 2.85
Coeur d Alene	CDM	391205	21.33	+ 2.68
Teck B	TCKB	15646999	28.75	+ 2.25
Teck A	TCKA	14107	29.31	+ 2.16
Agnico-Eagle	AEM	5638220	75.25	+ 2.10
Cameco Corp	CCO	4207538	30.75	+ 1.65
Extract Res	EXT	26152	10.30	+ 1.28
Harry Winston	HW	2251201	8.69	+ 1.28
Barrick Gold	ABX	30706458	40.51	-2.99
Jaguar Mng	JAG	4441513	10.30	-1.94
Major Drilling	MDI	489467	21.67	-1.35
Newmont Mng	NMC	68781	49.29	-0.96
Kirkland Lk Gd	KGI	961137	9.60	-0.89
Potash Cp Sask	POT	4953863	96.47	-0.71
Goldcorp	G	17148092	44.25	-0.70
Opawica Expl	OPW	525100	0.05	-0.55
Alamos Gold	AGI	1630774	10.16	-0.54
Central Gold-T	GTU_U	15302	43.33	-0.51