Concerns over continued interest rate hikes south of the border pushed the TSX Composite Index down another 4.3 percent to 11,197.58 during the June 6-12 report period. Metals of all varieties took on a red tinge; gold was off another 32.60 US dollars to 609.20 US dollars per oz.; it slipped below 600 US dollars subsequent to the period's end. No surprise, the gold index plummeted nearly 13 percent to 259.53 points, while the diversified miners slipped another 6.2 percent to 467.7. With copper and zinc on the slide, Equinox Minerals and Euro Zinc Mining took dubious honours as the two most-traded miners. Equinox saw more than 27.7 million shares trade 34 cents or 20 percent lower to 1.33 dollars, while Euro-Zinc slipped 14 cents, or 5.5 percent, to 2.39 dollars on nearly 25 million shares. Recent infill drilling by Euro-Zinc at the Neves-Corvo mine in Portugal recently outlined a new high-grade copper and zinc zone on the Zambujal orebody. Production there is scheduled for 2007.
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