Toronto Stock Exchange – Oct. 20-26

Although many third-quarter earnings statements have beat expectations, the S&P/TSX composite index fell 2.6%, or 303.5 points, to 11,234.9 points over the Oct. 20-26 trading period as investors perhaps evaluated the rally that’s pushed the index up 50% since March.

The price of gold has stayed well above the US$1,000-per-oz. mark, but that didn’t stop the Global Gold index from dropping 5.3% over the period to 326.4 points. There wasn’t much change for the Capped Metals and Mining index, which slipped 3.8 points to 957.4.

Centamin Egypt, operator of the massive Sukari Hill gold project in Egypt, was the most actively traded stock over the period with 65.7 million shares changing hands. The shares advanced 16¢, closing at $2.14 apiece. The company is now ramping up the 4-million-tonne-per-year operation and has also applied to switch its AIM listing to the main market of the London Stock Exchange.

Specialty metals producer Timminco was next in line, with 32.2 million shares traded. The company recently announced that it’s ramping up production at its silicon operation in Becancour, Que., causing its shares to spike above the $3-mark. During the latest reporting period, the stock retreated 55¢ to $2.11 per share.

First Quantum Minerals shares increased the most on a dollar basis over the period, rising $4.71 to $77.70. The company produced 14% more copper in the third quarter than in the same period last year, and has produced 15% more copper for the entire year, at 275,300 tonnes.

Cameco shares rose $1.54 over the period to $32. The uranium giant is again trying to pump water from its flooded Cigar Lake development project in Saskatchewan. Cameco isn’t saying when it will be able to finally mine uranium, at least until it’s evaluated the underground conditions.

Anticipation of poor third-quarter results made Agrium the top loser by value over the period, its shares falling $6.02 apiece to $52.88. The fertilizer producer warned investors that its profits will fall as much as 95% this year — that would work out to earnings of about US$18.3 million compared with US$367 million in 2008. The company said plunging fertilizer prices and margins across the industry were to blame.

At least Agrium was not alone — Potash Corp. of Saskatchewan saw its third-quarter profits fall by 80% too, to $28.8 million.

And finally, although Canadian Royalties’ board and management have agreed to tender their shares to Jien Canada Mining’s improved $192-million takeover offer, not all is said and done. Jaguar Financial is trying to drum up enough opposition among debenture holders to quash the deal. Jaguar says debenture holders should get full value for their securities, rather than the $800 plus interest for each $1,000 debenture that is being offered.

TSX most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Centamin Egypt	CEE	65679	2.63	1.91	2.14	+ 0.16
Timminco	TIM	32202	3.04	1.85	2.11	-0.55
Uranium One	UUU	29650	3.38	2.97	2.98	-0.10
Yamana Gold	YRI	26692	12.99	12.03	12.03	-0.76
Lundin Mng	LUN	25050	4.77	4.42	4.45	-0.15
Paladin Energy	PDN	20699	5.15	4.49	4.51	-0.13
Teck B	TCKB	19335	35.75	33.74	34.06	+ 0.40
Denison Mines	DML	18600	1.98	1.69	1.72	-0.04
Eastern Platin	ELR	17907	0.82	0.71	0.78	-0.03
Breakwater Res	BWR	17865	0.44	0.39	0.41	-0.02

TSX Greatest Percentage Change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Delta Uran	DUR	2120	0.09	0.05	0.08	+ 60.0
Malaga	MLG	815	0.15	0.09	0.14	+ 55.5
Grandview Gld	GVX	510	0.10	0.08	0.09	+ 28.5
Powertech Uran	PWE	666	0.51	0.39	0.49	+ 25.6
Stornoway Diam	SWY	8959	0.37	0.24	0.31	+ 24.0
Anaconda Mng	ANX	1842	0.34	0.24	0.30	+ 20.0
Arehada Mining	AHD	153	0.18	0.15	0.18	+ 20.0
Rockwell Diam	RDI	8987	0.09	0.06	0.07	+ 16.6
Corona Gold	CRG	168	0.42	0.40	0.42	+ 16.6
Labdr Iron Mns	LIM	178	2.10	1.68	1.94	+ 15.4
Copper Mesa	CUX	3049	0.03	0.01	0.01	-50.0
Petaquilla Mnl	PTQ	4289	0.35	0.20	0.23	-32.3
Avnel Gold	AVK	30	0.15	0.12	0.12	-29.4
Moly Mines	MOL	6744	1.39	1.03	1.07	-26.2
Yukon-Nev Gold	YNG	8296	0.38	0.26	0.27	-25.0
Treasury Metal	TML	245	0.44	0.34	0.34	-24.4
Atlanta Gold	ATG	79	0.17	0.13	0.13	-23.5
Velocity Minls	VLC	192	0.31	0.20	0.20	-23.0
Genco Res	GGC	780	0.71	0.52	0.54	-21.7
Timminco	TIM	32202	3.04	1.85	2.11	-20.6

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
First Quantum	FM	3667031	77.70	+ 4.71
IShCOMEXGTr	IGT	25276	109.09	+ 1.78
Cameco Corp	CCO	6906474	32.00	+ 1.54
Quadra Mng	QUA	5856429	15.60	+ 1.07
Marklnd AGF PM	MPM	13570	8.80	+ 0.89
Imperial Metal	III	277275	6.17	+ 0.67
Uranium Partic	U	3201283	7.40	+ 0.61
Central Gold-T	GTU_U	22317	43.70	+ 0.53
Horizns G Bear	HGD	10439429	5.26	+ 0.48
Teck B	TCKB	19334901	34.06	+ 0.40
Agrium	AGU	5346293	52.88	-6.02
Agnico-Eagle	AEM	3356929	69.90	-3.55
Inmet Mining	IMN	1649526	62.90	-3.51
Seabridge Gold	SEA	265367	23.86	-2.94
Goldcorp	G	12089691	40.95	-2.85
Silver Std Res	SSO	688523	20.24	-2.29
Kinross Gold	K	15310768	21.65	-2.25
Potash Cp Sask	POT	5949113	104.86	-1.98
Newmont Mng	NMC	34495	46.42	-1.68
Franco-Nevada	FNV	1438461	26.85	-1.67