Toronto Stock Exchange – November 24-30

Reports that Dubai was seeking to restructure its debt had a ripple effect across the world over the Nov. 23-30 reporting period.

The S&P/TSX composite index retreated 1.5%, or 176.82 points to close at 11,447.20.

The loss for the Capped Metals and Mining index was more severe, down 2.6%, or 26.44 points to close at 978.34.

And the Global Gold index fell 2.2%, or 8.28 points, to 365.25.

As such, miners with the greatest positive value change over the period did not show impressive gains. Centerra Gold, the Cameco spinout with projects in Central Asia and Russia, was at the top of the list, rising 71¢ over the period to close at $13 a share on no news.

Khan Resources shares were up 52.5% to 61¢ apiece after Russian uranium producer Atomredmetzoloto JSC made a $35.1-million cash bid for the company. Khan’s main project is the Dornod uranium property in northeastern Mongolia, the site of a former Russian open-pit uranium mine.

The losses were more substantial. Inmet Mining shares dropped $4.54 to $63.35 after news that the Papua New Guinea (PNG) government had consented to exchange Inmet’s 18% stake in the company that holds the Ok Tedi copper-gold mine (Ok Tedi Mining) for a 5% net smelter return royalty on production revenues. Inmet will no longer have representatives on the board of directors of Ok Tedi Mining, nor will it have further funding obligations toward the mine.

Goldcorp, Canada’s second-largest gold producer, saw its shares drop $3.46 apiece to close at $44.07.

Potash Corp. of Saskatchewan shares slid $3.30 apiece to finish the period at $117.90, and Agrium shares fell $2.18 to $58.74, still suffering from a decline in fertilizer demand.

Ventana Gold, operator of the hot La Bodega gold project in Colombia, saw shares fall $2.34 to $9.66 over the period, a nearly 20% drop. Socieded Minera La Bodega, which optioned La Bodega to Ventana, is seeking arbitration to receive more compensation for the project. Ventana shares have soared 27-fold this year. The company says its been having talks with a potential buyer that could lead to a takeover, but the dispute is creating much uncertainty for the company. Analysts say it could take up to a year to settle the dispute.

Crystallex International shares fell 33% to 38¢ apiece after rising for no apparent reason. The company put out a statement prompted by the TSX to confirm that it was not aware of any material undisclosed corporate developments that would explain the increase. Crystallex has been involved in an ongoing dispute with the government of Venezuela over ownership of the Las Cristinas gold project.

TSX most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Coalcorp Mng	CCJ	21726	0.62	0.20	0.49	+ 0.13
B2Gold	BTO	15239	1.30	0.97	1.22	+ 0.06
Yamana Gold	YRI	13828	14.51	13.80	13.99	-0.65
Kinross Gold	K	12113	21.32	20.04	21.02	-0.36
HoriznsGBear	HGD	11960	4.13	3.83	4.00	+0.26
Eastern Platin	ELR	11937	1.00	0.90	0.93	-0.05
New Gold	NGD	11695	3.94	3.70	3.70	-0.19
Eldorado Gold	ELD	11519	14.59	13.70	14.05	-0.43
Starfield Res	SRU	11403	0.13	0.10	0.11	0.00
Barrick Gold	ABX	10836	46.86	44.70	44.86	-1.85

TSX greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Khan Res	KRI	7893	0.62	0.33	0.61	+ 52.5
Longview Cap	LV	1124	0.12	0.08	0.12	+ 50.0
Crew Gold	CRU	1221	0.32	0.18	0.25	+ 47.0
Virgin Metals	VGM	1796	0.08	0.05	0.07	+ 40.0
Aquila Res	AQA	6749	0.37	0.24	0.37	+ 37.0
Coalcorp Mng	CCJ	21726	0.62	0.20	0.49	+ 36.1
Victory Nickel	NI	10179	0.19	0.12	0.19	+ 35.7
Pediment Gold	PEZ	1262	1.66	1.10	1.66	+ 30.7
Liberty Mines	LBE	1468	0.29	0.16	0.26	+ 30.0
Kimber Res	KBR	495	1.80	1.09	1.65	+ 25.0
Copper Mesa	CUX	469	0.01	0.01	0.01	-50.0
Crystallex Int	KRY	3211	0.42	0.28	0.28	-33.3
Ventana Gold	VEN	8391	12.21	9.00	9.66	-19.5
Treasury Metal	TML	219	0.44	0.37	0.40	-16.6
Peregrine Diam	PGD	1855	1.69	1.38	1.42	-16.4
Moneta Porcpn	ME	1907	0.35	0.28	0.31	-16.2
Uranerz Energy	URZ	69	1.79	1.45	1.45	-15.2
Golden Queen	GQM	486	1.19	1.04	1.09	-14.1
Zazu Metals	ZAZ	180	0.20	0.19	0.19	-13.6
Excellon Res	EXN	2195	0.65	0.51	0.57	-13.6

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Centerra Gold	CG	1741928	13.00	+ 0.71
IShCOMEXGTr	IGT	16651	122.20	+ 0.53
Intl Royalty	IRC	628339	4.60	+ 0.45
Central Gold-T	GTU_U	30827	49.06	+ 0.44
Nevsun Res	NSU	1710189	3.45	+ 0.39
Pediment Gold	PEZ	1262466	1.66	+ 0.39
Kimber Res	KBR	495456	1.65	+ 0.33
Gabriel Res	GBU	10302381	4.09	+ 0.28
Queenston Mng	QMI	427414	5.97	+ 0.27
Foraco Intl	FAR	46400	2.25	+ 0.26
Inmet Mining	IMN	918721	63.35	-4.54
Goldcorp	G	9134996	44.07	-3.46
Potash Cp Sask	POT	2942781	117.90	-3.30
Ventana Gold	VEN	8390837	9.66	-2.34
Agrium	AGU	2654991	58.74	-2.18
Teck B	TCKB	10056023	36.49	-2.06
First Quantum	FM	1323353	82.33	-2.00
Agnico-Eagle	AEM	3045873	65.80	-2.00
Barrick Gold	ABX	10835759	44.86	-1.85
Franco-Nevada	FNV	934268	28.42	-1.78