Toronto Stock Exchange – NOVEMBER 17-23

The S&P/TSX composite index continued to show resilience over the Nov. 17-23 reporting period, warding off the previous week’s minor slump to finish at 11,624.03 points — a gain of more than 100 points.

The resource-heavy index was helped along by higher precious and base metal prices.

With the price of gold finishing the period at US$ 1,164.10 per oz., the Global Gold index managed to etch out a gain of 4 points, closing at 373.53.

Agnico-Eagle Mines, up $1.93 to $66.68; Detour Gold, up $1.69 to $15.98; and Newmont Mining, $1.64 higher at $56.39, were the chief beneficiaries of gold’s bullish move.

The diversified miners also benefited from higher prices for their products as illustrated by the rise of the Capped Metals and Mining index, up roughly 30 points to 1,004.78. The price of copper, aluminum, nickel, tin, lead and zinc were all slightly higher for the period.

New Gold found itself one of the period’s most actively traded stocks, but could have done without all the attention. The company’s shares finished the week off 13.3% at $3.87 on 38 million shares traded after news broke that its Mexican gold mine, Cerro San Pedro, was being shut down. Mexican authorities suspended mining after New Gold’s 2006 environmental impact statement was nullified in a court decision. The company says it has been in compliance with environmental regulations and blames a “group of individuals” opposed to the mine for the court action. It says it will appeal the decision.

As one mine was suspended, another geared up for opening. Petaquilla Minerals announced that the Panamanian government authorized commercial production at its Molejon gold mine. The mine has already produced 26,000 oz. of gold since its first pour in April, and it represents Panama’s first modern, large-scale mine. Petaquilla’s shares responded favourably to the announcement, climbing 131% to 51¢.

In a not often seen twist, Mines Management announced that it was withdrawing a proposed public offering of 6 million shares, and the market applauded the decision. The company’s shares rose 23% to $2.94 over the period after it said the terms presented by the underwriters weren’t good enough. Mines Management said it still has roughly US$14 million in cash, making the dilution unnecessary.

The market didn’t, however, respond positively to Crowflight Minerals’ announcement that it was suspending production at its Bucko Lake nickel mine, in Manitoba. The company says the suspension is temporary and will last for just three months, but that didn’t stave off a 29% drop in its share price to 15¢. The move came after the mine had difficulties turning out consistent production.

TSX most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Tiomin Res	TIO	39164	0.04	0.03	0.04	+ 0.01
New Gold	NGD	37915	4.64	3.61	3.87	-0.60
Yamana Gold	YRI	30292	14.66	13.48	14.40	+ 0.68
HoriznsGBear	HGD	26152	4.15	3.70	3.88	-0.12
Petaquilla Mnl	PTQ	23041	0.62	0.21	0.51	+ 0.29
Eastern Platin	ELR	22523	1.02	0.89	1.00	+ 0.09
Great Basin Go	GBG	20098	1.80	1.57	1.63	-0.08
Coalcorp Mng	CCJ	19369	0.25	0.14	0.22	+ 0.08
Barrick Gold	ABX	19081	48.33	45.52	46.25	+ 0.10
Farallon Res	FAN	18920	0.47	0.41	0.44	-0.03

TSX greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Petaquilla Mnl	PTQ	23041	0.62	0.21	0.51	+131.8
Kimber Res	KBR	701	1.16	0.70	1.14	+ 70.1
Coalcorp Mng	CCJ	19369	0.25	0.14	0.22	+ 57.1
Northland Res	NAU	244	1.59	1.10	1.55	+ 47.6
American Bonan	BZA	2604	0.19	0.13	0.17	+ 41.6
Starcore Int V	SAM	2109	0.20	0.12	0.19	+ 35.7
Tiomin Res	TIO	39164	0.04	0.03	0.04	+ 33.3
Arehada Mining	AHD	347	0.19	0.15	0.19	+ 26.6
Mines Managmnt	MGT	11	2.94	2.52	2.94	+ 23.5
Contl Precious	CZQ	3093	0.85	0.64	0.81	+ 22.7
Crowflight Mnl	CML	11424	0.18	0.12	0.15	-28.5
Aquila Res	AQA	3503	0.34	0.26	0.27	-20.5
Richview Res	RVR	1408	0.05	0.03	0.04	-20.0
Velocity Minls	VLC	108	0.22	0.19	0.22	-18.5
Australn Solom	SGA	56	0.30	0.27	0.27	-18.1
Firstgold	FGD	552	0.05	0.05	0.05	-16.6
Genco Res	GGC	734	0.59	0.44	0.50	-15.2
Delta Uran	DUR	578	0.08	0.06	0.06	-14.2
New Gold	NGD	37915	4.64	3.61	3.87	-13.4
Intrepid Mnrl	IAU	1252	0.31	0.23	0.26	-13.3

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Potash Cp Sask	POT	6410008	120.30	+ 11.46
First Quantum	FM	2160658	80.11	+ 5.11
IShCOMEXGTr	IGT	28852	120.82	+ 3.91
Agrium	AGU	5178964	59.71	+ 3.31
Teck B	TCKB	17001314	37.36	+ 2.40
Teck A	TCKA	33355	37.38	+ 1.95
Agnico-Eagle	AEM	2975139	66.68	+ 1.93
Detour Gold	DGC	3013760	15.98	+ 1.69
Newmont Mng	NMC	113635	56.39	+ 1.64
Seabridge Gold	SEA	175933	27.31	+ 1.46
HudBay Minls	HBM	7933816	15.16	-1.17
Inmet Mining	IMN	1727972	67.72	-0.86
Comaplex Mnrl	CMF	107976	6.27	-0.73
New Gold	NGD	37914852	3.87	-0.60
Thompson Creek	TCM	3662384	12.35	-0.37
Uranium One	UUU	18084670	3.20	-0.36
Paladin Energy	PDN	6217180	4.06	-0.27
Altius Mnrls	ALS	337103	7.89	-0.26
Corriente Res	CTQ	780787	6.42	-0.25
Intl Minls Crp	IMZ	296985	4.39	-0.22