Toronto Stock Exchange -Jan. 26-Feb. 1

The TSX composite index slid 36.96 points over the Jan. 26-Feb. 1 trading period to close at 11,317.55 points, despite news that Canada’s largest trading partner experienced its fastest growth rate in six years.

China’s plan to cool its surging economy, which would lessen the country’s need for resources, is being blamed for the benchmark’s decline. This was evident in the Capped Metals and Mining index, which pulled down the TSX by 4.4%, or 45.99 points, to close at 998.97, a substantial loss for the second week running.

The Global Gold index barely moved, up less than a point, to close at 315.65 points.

Athabasca Potash was the top gainer over the period, up 30%, or $1.93, to $8.31 apiece after news it had agreed to be taken over by BHP Billiton for $341 million in cash. Athabasca’s Burr potash project is right next to BHP’s Jansen project, a proposed underground potash mine in east-central Saskatchewan. BHP will pay $8.35 for each Athabasca share, which is a decent premium for Athabasca shareholders — the 52-week trading range, before the offer fluctuated between $1.44 and $7.06.

Another takeover offer pushed up uranium-focused Khan Resources shares by about 28% to close at an even $1 per share over the period. The company announced on Feb. 1, that it had made and agreement with CNNC Overseas Uranium Holding, a Beijing-based Chinese nuclear energy corp., to be acquired for 96¢ per share. The CNNC offer contains far fewer conditions than a recent 65¢-per share bid by Atomredmetzoloto JSC. Khan’s main project is the Dornod uranium property in northeastern Mongolia, the site of a former Russian open-pit uranium mine.

Results of a 49.6-tonne sample of surface material at Peregrine Diamond’s Childliak project on Baffin Island, Nunavut did not please investors this time around. Peregrine shares plummeted by nearly 30% over the period to close at $1.53 per share, although the company did find that the CH-1 kimberlite returned 20.25 carats of commercial-sized diamonds larger than 0.85 mm for a diamond content of 0.41 carat per tonne.

Potash Corp. of Saskatchewan reported that annual earnings fell to $987.8 million in 2009, or $3.25 per share, compared to $3.5 billion, or $11.01 per share in 2008. Potash Corp.’s stock fell $6.06 to $110.07 apiece. However, the company says the fourth quarter marked the beginning of a recovery in global demand for fertilizers.

First Quantum Minerals’ share price fell $7.02 to $81.28. The company has restarted operations at its Bwana Mkubwa copper plant in Zambia after a shutdown related to a dispute with the Democratic Republic of the Congo, located next door. It also started international arbitration with its partners against Gcamines and the DRC related to its Kolwezi tailings exploitation permit in the DRC.

TSX most active issues
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Eastern Platin	ELR	35912	1.28	1.16	1.27	+ 0.02
Yamana Gold	YRI	24570	11.49	10.75	11.35	+ 0.20
Teck B	TCKB	22372	39.52	34.84	36.70	-2.44
Barrick Gold	ABX	20515	38.98	37.03	38.80	+ 0.73
Lundin Mng	LUN	20426	4.62	4.12	4.47	-0.22
Breakwater Res	BWR	19386	0.46	0.39	0.43	0.00
Athabasca Pota	API	18204	8.31	6.41	8.31	+ 1.93
HoriznsGBull	HGU	17505	11.16	9.77	10.74	-0.04
First Metals	FMA	16995	0.03	0.02	0.02	0.00
Vaaldiam Res	VAA	16958	0.06	0.03	0.05	+ 0.03

TSX greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Vaaldiam Res	VAA	16958	0.06	0.03	0.05	+150.0
Crew Gold	CRU	11544	0.19	0.12	0.15	+ 36.3
Athabasca Pota	API	18204	8.31	6.41	8.31	+ 30.2
Khan Res	KRI	5621	1.02	0.78	1.00	+ 28.2
Freegold Vent	ITF	48	0.10	0.09	0.10	+ 25.0
Adanac Moly	AUA	3468	0.14	0.09	0.12	+ 20.0
Crystallex Int	KRY	2868	0.34	0.26	0.34	+ 17.2
Ventana Gold	VEN	2672	7.44	6.14	7.36	+ 15.3
Jinshan Gold M	JIN	2569	2.88	2.40	2.86	+ 14.4
Globex Mng	GMX	128	1.65	1.10	1.50	+ 13.6
Peregrine Diam	PGD	4097	2.19	1.40	1.53	-29.8
VG Gold	VG	1325	0.35	0.26	0.27	-27.0
Franconia Mnls	FRA	1148	0.71	0.56	0.56	-21.1
PC Gold	PKL	824	0.62	0.49	0.49	-20.9
DynacorGoldM	DNG	424	0.22	0.16	0.17	-19.0
Powertech Uran	PWE	1486	0.43	0.33	0.35	-18.6
Western Areas	WSA	1706	4.60	3.62	3.75	-18.4
Tanz Roy Exp	TNX	1310	4.93	3.67	4.19	-15.6
Linear Metals	LRM	525	0.26	0.21	0.22	-15.3
Stornoway Diam	SWY	4677	0.61	0.49	0.52	-14.7

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Athabasca Pota	API	18204194	8.31	+ 1.93
IShCOMEXGTr	IGT	23044	115.24	+ 1.42
Newmont Mng	NMC	36517	48.05	+ 1.41
Agnico-Eagle	AEM	3688910	57.22	+ 1.12
Allied Nevada	ANV	1884970	14.63	+ 1.10
Ventana Gold	VEN	2672396	7.36	+ 0.98
Detour Gold	DGC	4054834	15.72	+ 0.88
Barrick Gold	ABX	20515291	38.80	+ 0.73
Europn Goldfld	EGU	3187960	6.08	+ 0.62
CentralGold-T	GTU_U	12055	45.59	+ 0.57
First Quantum	FM	3506359	81.28	-7.02
PotashCpSask	POT	5900522	110.07	-6.06
Teck B	TCKB	22372141	36.70	-2.44
Teck A	TCKA	23525	37.50	-2.21
SouthGobi Engy	SGQ	1534535	16.18	-1.89
Quadra Mng	QUA	4899485	15.06	-1.37
Golden Mnls	AUM	34635	11.58	-1.22
Seabridge Gold	SEA	197902	27.59	-1.21
Inmet Mining	IMN	3537529	55.91	-1.10
Western Areas	WSA	1705640	3.75	-0.85