TORONTO STOCK EXCHANGE (May 05, 2008)

The TSX Composite Index finished the Apr. 22-28 period down 235.31 points at 14,085.85, with the key culprit being seen as investors taking profits from the recent big gains in stocks within the agricultural sector.

The gold price broke down through the US$900-per-oz. mark, finishing the period at US$890.50. That was bad news for gold miners and the Global Gold Index reflected their pain, falling roughly 25 points to finish at 305.46.

Gold miners Yamana Gold, Kinross Gold, Goldcorp and Barrick Gold continued to be the most popular gold plays for investors, trading 30.2 million, 25.6 million, 17 million and 16.7 million shares respectively.

The diversified miners also had a tough period as evidenced by the Capped Metals & Mining Index falling 33 points to 842.52. That dip came despite rising copper (to US$3.96 per lb.), nickel (US$13.17 per lb.) and tin (US$10.84 per lb.) prices. The prices of aluminum and lead fell while zinc prices were relatively flat.

A mandate suspending all mining activity for 180 days in Ecuador forced Aurelian Resources to cut operations and its workforce. Aurelian says it will keep its surface and mineral rights during the suspension, but all drilling has stopped and 80% of its workforce has been let go. The company also said its scoping study and resource update will be deferred until the new mining law is in place — which the government plans to have finished within the 180 days period. After a massive sell-off when the news of the mandate was announced last week, Aurelian shares rebounded over the period and finished 22% higher at $4.56.

Investors also reasoned that Dynasty Metals & Mining was over-sold on the negative news out of Ecuador. It too rebounded after heavy selling the week previous and gained nearly 50% for the period to finish at 3.98.

A highlight intersect of 2.09 grams gold over 94.5 metres at its Caballo Blanco gold project in Mexico helped Canadian Gold

Hunter gain 35% for the period to touch $1.42. The intercept occurred between the 77 and 171 metre marks.

Independent Nickel also climbed on drill results — even if the results weren’t its own. The company finished the period 33% higher at 32 after announcing that a new zone of high grade nickel had been found on what it claims is its wholly owned Lynn Lake property in Manitoba.

Drilling was done by neighbour Western Areas and was highlighted by an 18 metre intersect grading 1.5% nickel. While Independent says the drill hole is close to a property boundary between it and Western Areas, it claims it falls on its property. The two companies have agreed to commission an independent land survey to resolve the matter. Western Areas shares gained $1.00 to finish at $8.50.

TSX most active issues
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Eastern Platin	ELR	35019	3.06	2.54	2.78	-0.29
Yamana Gold	YRI	30203	14.44	12.93	13.40	-0.73
Timminco	TIM	27091	22.40	14.83	18.85	-3.30
Kinross Gold	K	25621	23.30	19.50	19.51	-3.36
Aurelian Res	ARU	22705	4.61	3.11	4.56	+ 0.83
HudBay Minls	HBM	20890	20.47	17.45	19.70	+ 2.27
Uranium One	UUU	19602	5.18	4.77	4.94	+ 0.10
Goldcorp	G	17075	41.94	36.47	36.47	-4.97
Barrick Gold	ABX	16748	44.19	39.41	39.52	-3.73
Equinox Minls	EQN	15893	4.95	4.59	4.67	-0.23

TSX greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Ascendant C wt	ACX_T	49	0.02	0.02	0.02	+100.0
Energem Res	ENM	6737	0.19	0.11	0.19	+ 58.3
Dynasty Met&Mn	DMM	1510	4.05	2.30	3.98	+ 49.6
Canadn Gld Hun	CGH	1073	1.69	1.13	1.42	+ 35.2
Independent Ni	INI	1435	0.39	0.23	0.32	+ 33.3
Aurelian Res	ARU	22705	4.61	3.11	4.56	+ 22.2
Globex Mng	GMX	143	3.77	2.88	3.57	+ 20.6
Caldera Res	CDR	576	0.06	0.05	0.06	+ 20.0
Duluth Metals	DM	306	2.82	2.25	2.80	+ 19.6
WestTimminsM	WTM	1298	0.63	0.47	0.63	+ 18.8
European Ml wt	EPM_T	13	0.20	0.20	0.20	-28.5
VG Gold	VG	358	0.22	0.19	0.20	-23.0
Centerra Gold	CG	996	11.09	8.50	8.92	-18.7
Stornoway Diam	SWY	3773	0.43	0.34	0.35	-18.6
Nevoro	NVR	735	0.62	0.49	0.49	-18.3
Guyana Gldflds	GUY	1388	6.15	4.70	5.03	-17.9
Inspiration Mg	ISM	499	2.34	1.85	1.94	-17.0
Peregrine Diam	PGD	193	0.28	0.24	0.25	-16.6
Revett Mnls	RVM	300	0.77	0.60	0.60	-16.6
Khan Res	KRI	241	1.20	0.99	1.01	-16.5

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
HudBay Minls	HBM	20890491	19.70	+ 2.27
Horizns G Bear	HGD	3206781	11.84	+ 1.69
Dynasty Met&Mn	DMM	1509950	3.98	+ 1.32
Migao	MGO	2575757	8.19	+ 1.22
Russell Metals	RUS	2509096	29.39	+ 1.03
Western Areas	WSA	164106	8.50	+ 1.00
Aurelian Res	ARU	22705284	4.56	+ 0.83
Thompson Creek	TCM	4423940	22.28	+ 0.66
Cons Thomp Irn	CLM	3305436	8.14	+ 0.64
Globex Mng	GMX	142755	3.57	+ 0.61
Potash Cp Sask	POT	12650114	195.60	-15.50
Agnico-Eagle	AEM	4871302	61.81	-8.90
Agrium	AGU	11047936	84.36	-8.34
Goldcorp	G	17075233	36.47	-4.97
Horizns G Bull	HGU	2468092	21.80	-4.00
Fording C C T	FDG_U	3093337	63.59	-3.92
Pan Am Silver	PAA	806979	34.12	-3.80
Barrick Gold	ABX	16747807	39.52	-3.73
First Quantum	FM	3191322	86.45	-3.69
Kinross Gold	K	25621375	19.51	-3.36