Short Position Report (January 20, 2009)

TSX Short Positions
Short positions outstanding at Jan. 15/09 (with changes from Dec. 31/08).
Largest Short Positions
Security Ticker Total Short Change
Teck Cominco  TCK.B 31317518 1917323
Eldorado Gold  ELD 16059726 -47841
Cameco  CCO 14821824 460601
Lundin Mining  LUN 14794992 -407726
Red Back Mining  RBI 11216083 -707410
Ivanhoe Mines  IVN 10964237 -1037076
Uranium One  UUU 9573771 -998185
Thompson Creek  TCM 8594112 388383
Iamgold  IMG 7959888 796771
Sherritt International  S 7459134 142327
Yamana Gold  YRI 7047407 -973293
Kinross Gold  K 7035071 -4313588
Hudbay Minerals  HBM 6083181 1601389
Agnico-Eagle Mines  AEM 5537498 54781
FNX Mining  FNX 5109988 -150353
Largest Increase in Short Position
Security Ticker Total Short Change
Novagold Resources  NG 3816388 2521672
Mercator Minerals  ML 2597375 1919569
Teck Cominco  TCK.B 31317518 1917323
Hudbay Minerals  HBM 6083181 1601389
Denison Mines  DML 2236300 1409509
Largest Decrease in Short Position
Security Ticker Total Short Change
Kinross Gold  K 7035071 -4313588
Crystallex International  KRY 360726 -2031792
Ivanhoe Mines  IVN 10964237 -1037076
Uranium One  UUU 9573771 -998185
Yamana Gold  YRI 7047407 -973293
TSX Venture Short Positions
Short positions outstanding at Jan. 15/09 (with changes from Dec. 31/08).
Largest Short Positions
Security Ticker Total Short Change
Westernzagros  WZR 1124664 -2775
Rusoro Mining  RML 1088700 -223800
East Asia Minerals  EAS 500000 500000
Bravo Venture  BVG 459100 -163665
Cash Minerals  CHX 453000 453000
Alturas Minerals  ALT 433333 117000
Gold Wheaton Gold  GLW 268000 0
Sinchao Metals  SMZ 257108 257108
Anooraq Resources  ARQ 256800 76900
International Tower Hill  ITH 233500 -4200
Whitemud Resources  WMK 216795 -491
Constellation Copper  CCU.H 170000 0
Silvermet  SYI 155000 155000
Quaterra Resources  QTA 129500 67500
Noront Resources  NOT 111300 109500
Largest Increase in Short Position
Security Ticker Total Short Change
East Asia Minerals  EAS 500000 500000
Cash Minerals  CHX 453000 453000
Sinchao Metals  SMZ 257108 257108
Silvermet  SYI 155000 155000
Alturas Minerals  ALT 433333 117000
Largest Decrease in Short Position
Security Ticker Total Short Change
Fortuna Silver Mines  FVI 0 -650000
Nevada Exploration  NGE 0 -400000
First Gold Exploration  EFG 0 -287500
Rusoro Mining  RML 1088700 -223800
Cloudbreak Resources  CDB 0 -200000          
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