Toronto Stock Exchange – Jan. 27 -Feb. 2

Canadian equity indices were down during the Jan. 27-Feb. 2 trading period. The S&P/ TSX composite index dropped 32 points, or 0.4%, to 8,625; the Capped Metals and Mining index was 27 points, or 10% lower, at 239; and the Capped Materials index was down 7 points, or 2.9%, at 242.

Zinc prices fell for the third consecutive week, owing to a 15% increase in London Metal Exchange inventories to a three-year peak. Meanwhile, gold prices hit US$900 per oz. as the largest exchange-traded fund backed by bullion reached record levels, and silver prices rose 6.6% during the week.

Scotiabank projects the Canadian economy will contract by 1.6% this year, while the U. S. economy is projected to shrink by 2.6%, and the global economy will decline by 1.1%. The bank forecasts a rebound next year, with Canada’s GDP growing 1.6%, U. S. GDP growing by 1.7%, and the world economy expanding 2%.

National Bank economist Yanick Desnoyers sounds an optimistic note on the U. S. economy, saying that “financial conditions should improve and lead the economy back to recovery before the end of the year.”

The uranium sector came under pressure during the trading period, as spot prices for uranium oxide slid 6% to US$48 per lb. Uranium One fell 38¢ to $1.69; Denison Mines lost 29¢ to $1.37; and heavyweight Cameco fell 75¢ to $19.70. But Strateco Resources managed to gain 22¢ to 94¢.

Molybdenum miner Thompson Creek Metals was off 94¢ at $4.65 after announcing production cutbacks.

Central Sun Mining jumped 37¢ to 82¢ on a takeover bid by B2Gold, while B2Gold shares gained 23¢ to 74¢.

Andean Resources vaulted 37¢ to $1.09 after intersecting 32 metres of 34.6 grams gold per tonne on its Cerro Negro project in Argentina.

ECU Silver Mining fell 24¢ to 59¢ after a flurry of announcements, including resource estimates for two properties, the purchase of a gold and silver plant, and a financing.

Allied Nevada Gold, which started producing gold in Nevada a few weeks ago, rose $1.47 to $6.30.

NovaGold Resources continued to rise, this week gaining 77¢ to $4 after its recent successes on the financing front.

PC Gold gained 20¢ to 70¢ after announcing short high-grade gold intercepts from its Pickle Crow project, in northern Ontario.

Osisko Mining jumped 74¢ to $5.30 on heavy volume after announcing the acceptance of its environmental impact study for the Canadian Malartic gold project, near Val d’Or, Que. After the trading period, the company announced a $220-million bought-deal financing.

And Guyana Goldfields added 76¢ to $2.97 after completing the acquisition of Aranka Gold, a fellow explorer of the South American country.

TSX most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Uranium One	UUU	48417	2.08	1.66	1.69	-0.38
Teck B	TCKB	41328	6.19	4.45	4.54	-1.15
Yamana Gold	YRI	37984	10.26	9.01	9.48	-0.39
Eldorado Gold	ELD	27445	9.90	8.51	9.53	-0.29
Kinross Gold	K	23998	22.82	20.17	21.35	-0.13
Barrick Gold	ABX	23901	48.62	42.96	44.79	-1.72
Silver Wheaton	SLW	20882	8.43	7.55	8.00	-0.53
Goldcorp	G	20499	37.50	33.06	35.42	-0.00
HoriznsGBull	HGU	18443	13.95	11.23	12.32	-0.73
IAMGold Corp	IMG	16074	8.92	7.81	8.30	-0.05

TSX greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Central Sun Mg	CSM	2540	0.89	0.54	0.82	+ 82.2
New Dawn Mng	ND	14	0.65	0.44	0.65	+ 62.5
Energem Res	ENM	790	0.20	0.14	0.16	+ 60.0
Foraco Intl	FAR	16	1.30	0.85	1.17	+ 56.0
Australn Solom	SGA	462	0.15	0.09	0.14	+ 55.5
Andean Res	AND	4071	1.29	0.71	1.09	+ 51.3
Freegold Vent	ITF	738	0.34	0.20	0.34	+ 47.8
B2Gold	BTO	5200	0.87	0.47	0.74	+ 45.1
PC Gold	PKL	232	0.75	0.40	0.70	+ 40.0
Olympus Pacif	OYM	296	0.16	0.10	0.14	+ 40.0
Tiger Res	TGS	17	0.20	0.03	0.03	-70.0
ECU Silver Mng	ECU	4678	0.87	0.57	0.59	-28.9
Genco Res	GGC	173	0.55	0.38	0.42	-26.3
Dioro Expl	DIO	150	0.15	0.15	0.15	-25.0
Linear Metals	LRM	61	0.09	0.08	0.09	-25.0
Virgin Metals	VGM	193	0.04	0.03	0.03	-25.0
Stingray Coppr	SRY	174	0.27	0.22	0.22	-24.1
Sherritt Intl	S	13210	3.45	2.47	2.60	-23.3
Endeavour Finl	EDV	3712	1.99	1.50	1.53	-22.3
BioteQ Env	BQE	251	0.70	0.48	0.48	-21.3

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
IShCOMEXGTr	IGT	35500	110.84	+ 7.34
Franco-Nevada	FNV	3203248	26.27	+ 1.87
Royal Gold	RGL	34279	58.07	+ 1.64
Allied Nevada	ANV	394084	6.30	+ 1.47
First Uranium	FIU	4452631	4.25	+ 1.09
Labdr I-Ore Ro	LIF_U	334798	22.60	+ 1.00
NovaGold Res	NG	10636386	4.00	+ 0.77
Guyana Gldflds	GUY	429343	2.97	+ 0.76
Osisko Mng	OSK	8703879	5.30	+ 0.74
US Gold	UXG	712798	2.28	+ 0.59
Newmont Mng	NMC	207530	48.52	-4.79
Agnico-Eagle	AEM	5937407	62.65	-4.10
Potash Cp Sask	POT	6560657	91.65	-2.50
Barrick Gold	ABX	23900596	44.79	-1.72
Major Drilling	MDI	613452	12.76	-1.24
Teck B	TCKB	41328119	4.54	-1.15
Seabridge Gold	SEA	41782	16.20	-1.12
Thompson Creek	TCM	8523758	4.65	-0.94
Sherritt Intl	S	13210137	2.60	-0.79
First Quantum	FM	2129416	22.13	-0.78