In another wonderful day for gold bugs, the yellow metal was able to maintain a spot price above US$400 per oz. throughout most of the day’s trading in London and New York, deftly fighting off an hour-long attack in early Comex trading.
While the S&P/TSX composite index was virtually unchanged at 7,927.60 points, the gold shares saw a round of profit taking that lowered the S&P/TSX gold index by 0.46 points, or 0.19%, to 243.46 points.
Gold miner Wheaton River Minerals was the most active TSX stock once again, jumping 17 cents, or 4.3%, to $4.14, generating a market capitalization of $2.1 billion.
The second-highest net gainer on the TSX was red-hot Southwestern Resources, which climbed another $1.85 to hit $38.35. The company continues to explore its promising grassroots Boka gold project in China.
Leading the miners on the negative side was Potash Corp. of Saskatchewan, which slipped $2.28 to $106.08 — the second-highest net loser on the TSX.
The base metal stocks had a better day, with the S&P/TSX capped diversified metals & mining index popping up 0.91 to 204.06. The top performing index component was Aur Resources, up 20 cents, or 3.5%, to $5.85.
Canada’s junior exchange gained ground for the second straight session. The S&P-TSX Venture Exchange composite index added 1.86 points, or 0.11%, and closed at 1,711.79.
Akrokeri-Ashanti Gold Mines gave back half a penny to close at 10.5 on nearly 2.7 million shares traded. The alluvial miner holds an 85% stake in the Bonte gold mine and a 90% interest in the Goldenrae Mining properties, both in Ghana, West Africa.
JNR Resources lost 3.5 to close at 26 on 2.2 million shares traded. The junior recently dealt an option on its Moore Lake and Lazy Edward Bay uranium properties to International Uranium. The prospective project lie in the Athabasca Basin of northern Saskatchewan.
A big percentage gainer, Mandorin Goldfields surged 3.5 to close at 10.5 on 2.2 million shares traded. The junior is exploring diamond target areas in Queensland, Australia and is evaluating potential gold projects in China.
Oasis Diamond Exploration dropped a penny to close at 10 on 1.6 million shares traded. The company is awaiting the sample results from the Wawa diamond project in Ontario. Some 2,000 kg of kimberlitic core samples from the Sigma property and surface samples from the Enigma site were sent to C.F. Mineral Research in Kelowna, B.C. Six large samples of heterolytic volcanic breccias from the Magpie project have also been sent to Lakefield Research lab for diamond analysis.