TORONTO STOCK EXCHANGE (February 04, 2008)

The Federal Reserve Bank’s decision to make an emergency cut of 75 basis points to interest rates in the U.S. had the desired effect over the Jan. 22-28 trading period, with markets bouncing back from disturbing sell-offs. The TSX Composite Index followed the trend, recouping 854.77 points to finish the week at 12,986.90.

Gold also fared better than the previous period as it gained US$50.50 to US$921.75 per oz., causing the Global Gold Index to rally 31.17 points to 363.38.

The Capped Metals and Mining Index gained 80.87 points to 695.01 as base metals prices generally levelled off. Copper prices were down slightly to US$3.12 per lb., while aluminum, tin and lead made marginal gains.

Platinum’s re-found momentum — it surged US$67 to finish the period at US$1,644 per oz. — helped make Eastern Platinum the week’s most actively traded miner. Its shares gained 26 to $2.91 on roughly 62 million shares traded.

The usual crew of gold companies rounded out the top four most actively traded miners as investors chose to play the yellow metal via Yamana Gold, up $2.16 to $16.46; Kinross Gold, up $2.91 to $22.57; and Barrick Gold, up $7.30 to $53.77.

Grande Cache Coal was the period’s largest gainer by percentage, its shares shooting up 71% to $1.68 after announcing it had secured debt financing for up to $37.5 million.

Pelangio Mines also had a big week, its shares gaining 53% to $4.09. On Jan. 16, the gold explorer announced strong drill results from its partly owned Detour Lake property in northern Ontario. Pelangio holds a 49.4% interest in Detour Gold, which controls the property, but on Jan. 29 announced it would spin off that interest into a separate company so that its gold properties in Ghana would be better appreciated.

Detour Gold’s share price also got a healthy lift, gaining almost 40% to $2.55 for the period. The company announced a resource estimate for Detour Lake which put measured and indicated resources at 90 mil-

lion tonnes grading 1.67 grams gold for 4.8 million oz.

Drill results highlighted by 140 metres cutting 0.042% U308 and 0.76% copper at its Igor property in Labrador, helped Mega Uranium gain almost 50% to $3.26. Igor is described as an iron ore-copper-gold (IOCG) deposit, and the project is operated by joint-venture partner Cash Minerals, which is listed on the TSX Venture Exchange.

Problems at its Lisbon Valley copper project in Utah continue to haunt Constellation Copper. The company lost 21% of its share price during the period, finishing at 6. Mining at Lisbon Valley was stopped in late December due to problems with the leach pad. Third-quarter results out in mid-January showed the company has a history of operating losses and negative cash flows due to insufficient copper production at the project.

TSX most active issues
		VOLUME		WEEK
		( 000s)	HIGH	LOW	CLOSE	CHANGE
Eastern Platin	ELR	62143	2.98	2.43	2.91	+ 0.26
Yamana Gold	YRI	56176	16.64	14.47	16.46	+ 2.16
Kinross Gold	K	40059	23.95	19.41	22.57	+ 2.91
Barrick Gold	ABX	29866	54.11	46.47	53.77	+ 7.30
HudBay Minls	HBM	29116	18.49	13.70	18.46	+ 4.07
Breakwater Res	BWR	28826	1.38	1.06	1.27	+ 0.14
Paladin Energy	PDN	26058	4.77	3.65	4.47	+ 0.46
Teck Comin B	TCKB	25445	33.35	28.00	32.79	+ 3.81
Equinox Minls	EQN	23976	5.18	3.90	4.75	+ 0.49
Goldcorp	G	23729	39.88	32.90	38.44	+ 5.42

TSX greatest percentage change
		VOLUME		WEEK
		( 000s)	HIGH	LOW	CLOSE	CHANGE
New Gold wt	NGD_ T	305	0.155	0.01	0.12	+ 1100.0
Grande Cache C	GCE	11223	1.73	0.95	1.68	+ 71.4
Pelangio Mines	PLG	2579	4.23	2.50	4.09	+ 52.6
Richmont Mines	RIC	128	3.35	2.61	3.26	+ 48.1
Mega Uranium	MGA	6416	2.83	1.61	2.70	+ 45.9
Laramide Res	LAM	2325	5.57	3.00	4.90	+ 42.0
Birch Mountn	BMD	362	0.78	0.55	0.78	+ 41.8
Detour Gold	DGC	1820	19.75	13.00	18.50	+ 39.6
Central Sun Mg	CSM	379	1.66	1.07	1.66	+ 38.3
Paramount Gold	PZG	415	2.55	1.80	2.55	+ 37.8
Constel Copper	CCU	11688	0.07	0.055	0.055	– 21.4
Horizns G Bear	HGD	5419	12.00	9.05	9.29	– 20.8
Coalcorp wt	CCJ_ T	360	0.175	0.13	0.165	– 17.5
North Am En Pa	NOA	35	13.06	10.87	10.98	– 16.8
Powertech Uran	PWE	2117	1.01	0.84	0.86	– 15.6
VG Gold	VG	251	0.32	0.265	0.30	– 11.7
Gateway Gold	GTQ	484	0.35	0.30	0.30	– 11.7
Talon Metals	TLO	33	0.59	0.58	0.58	– 10.7
Carlisle Goldf	CGJ	142	0.20	0.18	0.18	– 10.0
Franc- Or Res	FOR	62	0.15	0.14	0.14	– 9.6

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Potash Cp Sask	POT	14073380	140.20	+ 20.63
Fording C C T	FDG_ U	5851538	43.10	+ 10.34
Agnico- Eagle	AEM	7044982	63.62	+ 9.07
Inmet Mining	IMN	2780822	69.05	+ 8.04
Barrick Gold	ABX	29865652	53.77	+ 7.30
Major Drilling	MDI	993779	56.36	+ 6.78
ISh COMEX G Tr	IGT	66984	92.45	+ 6.45
Horizns G Bull	HGU	3467716	32.52	+ 5.98
First Quantum	FM	3928663	73.30	+ 5.95
Agrium	AGU	10141170	63.32	+ 5.92
Horizns G Bear	HGD	5419370	9.29	– 2.45
North Am En Pa	NOA	34960	10.98	– 2.22
Katanga Mng	KAT	1675897	14.70	– 0.50
Aurora Energy	AXU	1275887	8.90	– 0.48
Banro Res	BAA	67846	10.70	– 0.40
Global Ur Fund	GUR	91118	5.04	– 0.35
Teal Expl & Mg	TL	44800	4.75	– 0.25
Bannerman Res	BAN	19300	2.55	– 0.20
Scandinav Mnl	SGL	32350	6.01	– 0.19
Powertech Uran	PWE	2116836	0.86	– 0.16