Metals, mining and money markets

Spot prices
Courtesy of Scotiabank
Tuesday, November 20, 2012
Precious Metals	Price (US$/oz.)	Change
Gold	$1,734.00	9.25
Silver	$33.19	0.61
Platinum	$1,574.00	-4
Palladium	$641.00	28
Base Metals	Price (US$/tonne)	Change
Nickel	$16,463.00	-5
Lead	$2,184.25	-5.75
Copper	$7,770.50	-30.25
Zinc	$1,933.75	-11.25

LME warehouse levels

Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, November 19, 2012 (change from November 12 in brackets):
Aluminium Alloy	88940	(-1140)
Aluminium	5107300	(+1500)
Copper	254050	(+8550)
Lead	339000	(+7975)
Nickel	132636	(+2844)
Tin	11455	(-225)
Zinc	1176675	(+18325)

Producer and Dealer Prices

Antimony: Mid-mkt US$12,350.00/t
Bismuth: Mid-mkt US$9.25/lb.
Cadmium: Mid-mkt US$0.875/lb.
Coal: CME Group Central Appalachian Coal Futures
December 2012: US$60.67; January 2013: US$62.28
Cobalt: Recent trades US$11.50-12.25/lb.
Copper: Comex Copper Futures December 2012: US$3.529/lb.; Comex January 2013: $3.530/lb.
Indium: Mid-mkt US$520.00/kg.
Iridium: Mid-mkt US$1,025.00/tr. oz.
Magnesium: Mid-mkt US$3,300.00/t.
Manganese: Mid-mkt US$2,655.00/t.
Mercury: Mid-mkt US$1,850.00/flask (76 lb.).
Molybdenum: Oxide, recent trades US$10.85-11.00/lb.
Rhodium: Mid-mkt US$1,175.00/tr. oz.
Ruthenium: Mid-mkt US$105.90/tr. oz.
Selenium: Mid-mkt US$45.00/lb.
Silver: Base: US$33.13; Fabricated: US$39.76.; Sterling: US$30.72
Tantalum: Ta2O5 ore, mid-mkt US$125/lb. CIF China
Tin: Kuala Lumpur Tin Market, US$20.38/kg
Tungsten: APT Tungstate FOB China mid-mkt: US$335.00 per mtu
Uranium: U3O8, Trade Tech spot price: US$41.00/lb.; Uranium Exchange Co. spot price: US$41.25/lb.
Ferrovanadium: Free Market V2O5, recent trades US$5.00-5.25/lb.; US Ferrovanadium: US$12.00-12.25
Prices current Nov. 20, 2012

Daily metal prices

Date	19-Nov	16-Nov	15-Nov	14-Nov	13-Nov
BASE METALS	(London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)
Al Alloy	1860/1885	1879/1895	1850/1875	1868.50/1885	1815/1840
Aluminum	1927.50/1946	1921/1941.50	1931.50/1953	1965/1987	1943.50/1960
Copper	7670/7693	7572.50/7583	7605/7615	7634.50/7642	7606/7613
Lead	2174/2167	2179/2162	2187/2176	2187.50/2166	2163/2148
Nickel	16055/16125	15875/15945	16010/16050	15980/16100	15905/15995
Tin	20570/20495	20500/20450	20405/20425	20575/20550	20375/20400
Zinc	1891.50/1922	1895/1923	1906.50/1934	1921/1946	1892/1919.50

PRECIOUS METAL PRICES (London fix, US$ per troy oz.)
Gold AM	1679	1708.25	1723.25	1718	1713.5
Gold PM	1683.5	1685	1716.25	1719	1710
Silver	30.91	31.92	32.66	32.28	31.98
Platinum	1544	1552	1575	1570	1545
Palladium	598	608	614	606	593.5

Exchange rates
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)
Date	19-Nov	16-Nov	15-Nov	14-Nov	13-Nov
US$ in C$	0.9964	1.0028	1.0025	1.0018	1.0016
C$ in US$	1.0036	0.9972	0.9975	0.9982	0.9984

Currency	Aus $	Euro	Japan	Mex P	SA Rand	UK £
In C$	1.0367	1.276	0.01227	0.07628	0.113	1.5851
In US$	1.0404	1.2806	0.01231	0.07656	0.1134	1.5908

Canadian gold mutual funds

< td class="xl65" align="right" width="64">-6.43

Fund name	Nov. 19	Nov. 12	Change	Change	YTD	MER*	Assets*
	($)	($)	($)	(%)	(%)	(%)	(M$)
AGF Pr Mtl	30.53	31.66	-5.67	-17.9	-10.73	2.56	698.9
Altamira Pr & Str Mtl	23.2	15.93	-5.71	-35.8	-9.64	2.35	83.5
BMO Junior Gold Index ETF	14.8	15.67	-2.78	4.3	-12.74	0.58	108.4
BMO Pr Mtl	17.86	24.31	-2.75	-11.3	-12.65	2.29	133.6
CIBC Pr Mtl	13.54	18.78	-4.62	-24.6	-12.98	2.4	141.8
Dynamic Can Pr Mtl	19.45	14.01	-45.9	-13.44	1.65	811.6
London Life Pr Mtl (MX)	34.98	36.45	-8.38	-23	-14.17	3.37	259.2
Mackenzie Un Pr Mtl C$	19.16	17.33	-7.63	-44	-13.49	2.44	569.9
Middlefield Precious Metals	16.63	13.46	-12.38	-92	-13.39	2.48	8.5
Quadrus Mack Un Pr Mtl	12.63	19.96	-7.72	-38.7	-16.3	2.7	66.7
RBC Global Pr Mtl	15.16	43.34	-3.19	-7.4	-10.8	2.04	1380.4
Sentry Pr Mtl Growth	54.99	58.53	2.76	4.7	-4.9	2.75	731.5
Sprott Gold and Pr Minls	41.29	53.42	-11.45	-21.4	-9.2	2.84	854
Sprott Gold and Pr Minls F	50.98	56.47	-10.69	-18.9	-17.3	1.78	n/a
TD Pr Mtl	53.89	53.12	-7.05	-13.3	-16.5	2.15	313.9
TD Pr Mtl-A	10.61	11.23	-7.18	-63.9	-14.2	2.31	n/a
iShares Can Gold Sector Index	50.2	20.35	-5.17	-25.4	-14.06	0.55	1063.3
Featured Fund: Sprott Gold and Precious Minerals as of 06/30/12 (in weighted order): Goldcorp, Barrick Gold, Franco-Nevada, Silver Wheaton, Freeport McMoran, Iamgold, Kinross Gold, Agnico-Eagle Mines, Osisko Mining, Perseus Mining, Newcrest Mining, Yamana Gold, Romarco Minerals. Fund Manager: Diana Racanelli.

North American stock exchange indices
						52-week
Date	19-Nov	16-Nov	15-Nov	14-Nov	13-Nov	High	Low
TSX Composite	12040.4	11877.72	11811.38	11929.79	12134.66	12788.63	11209.55
S&P/TSX-Ven Comp	1249.96	1235.34	1222.7	1258.69	1286.89	1696.14	1153.9
S&P TSX 60	688.14	679.49	675.76	681.9	694.88	728.03	637.7
Global Gold	314.24	307.99	305.15	313.46	326.45	423.82	265.99
TSX Metals & Mining	919.59	909.48	908.17	917.34	940.79	1258.22	781.13
Gold & Silver XAU	170.58	165.67	164.36	168.49	176.72	210.11	140.94
Amex Gold Bugs	452.65	440.85	437.05	447.96	469.51	590.72	372.74

TSX short positions
Short positions outstanding at Nov. 15/12 (with changes from Oct. 31/12).
Largest short positions
New Gold	NGD	60921343	-447412
Lundin Mining	LUN	47085340	519362
Osisko Mining	OSK	30056292	-980943
Kinross Gold	K	26435809	11071791
Yamana Gold	YRI	24425313	6646246
Argonaut Gold	AR	22907510	875549
Thompson Creek	TCM	21984464	-537446
Eldorado Gold	ELD	18624341	4309524
Dundee Prec.	DPM	15797190	-149122
Uranium One	UUU	14986296	-1300110
Aurico Gold	AUQ	14670731	-2152420
B2gold	BTO	14128916	1790681
Tahoe Res.	THO	13732050	51656
First Quantum	FM	12770650	5264635
Potash Corp.	POT	12500096	3971379
Largest increase in short position
Kinross Gold	K	26435809	11071791
Yamana Gold	YRI	24425313	6646246
First Quantum	FM	12770650	5264635
Eldorado Gold	ELD	18624341	4309524
Potash Corp.	POT	12500096	3971379
Largest decrease in short position
Labrador Iron	LIM	252300	-3941207
Barrick Gold	ABX	2870970	-2946696
Teck Resources	TCK.B	7884478	-2195825
Aurico Gold	AUQ	14670731	-2152420
Rainy River	RR	793105	-1913366

TSX Venture short positions
Short positions outstanding at Nov. 15/12 (with changes from Oct. 31/12).
Largest short positions
Sandstorm Gold	SSL	3827687	-303120
Barkerville Gold	BGM	2666417	331800
Aurcana	AUN	1690005	1371600
Goldquest Mining	GQC	1226472	-238944
Great Western	GWG	1154035	28180
Los Andes Copper	LA	693500	693500
Argex Titanium	RGX	564253	38613
Galway Resources	GWY	502002	369863
Kaminak Gold	KAM	499471	407100
Probe Mines	PRB	450147	252700
Bear Creek Mining	BCM	439939	-98300
Fire River Gold.	FAU	439000	89000
Andina Minerals	ADM	421300	421300
Sandstorm Metals	SND	411091	182500
TNR Gold	TNR	402000	402000
Largest increase in short position
Aurcana	AUN	1690005	1371600
Los Andes Copper	LA	693500	693500
Andina Minerals	ADM	421300	421300
Kaminak Gold	KAM	499471	407100
TNR Gold	TNR	402000	402000
Largest decrease in short position
Sarama Resources	SWA	0	-2000000
Tolima Gold	TOM	0	-1000000
ATAC Resources	ATC	19517	-816500
Robex Resources	RBX	401	-815031