TORONTO STOCK EXCHANGE – OCT 7-11

Despite touching new lows, the TSX Composite Index showed renewed signs of life at presstime. For the shortened Oct. 7-10 period, the index had fallen more than 1,165 points to 9,065.16, but as global markets rebounded on Monday, the TSX played catchup after the Thanksgiving holiday on Monday and reached 10,234.66 on Oct. 14.

While Tuesday’s rally saw the greatest gains going to the financial sectors, the much-maligned minerals sector also saw some benefit. Still, the gains could not undo all the harm inflicted on miners in recent months as metal prices continue to decline amidst fears of a global recession.

Not even gold could benefit from the recent market turmoil as it finished the period at US$831.50 per oz., down roughly US$45, although a rising Global Gold Index pointed to possible brighter days ahead for gold miners. The index was up roughly 7 points to 228.75, with Goldcorp, Barrick Gold and Kinross Gold all finishing higher on heavy volumes.

The diversified miners didn’t fare so well. The Capped Metals and Mining Index was down roughly 60 points to 365.31, as copper, aluminum, nickel, tin, lead and zinc prices weakened. The spot price of uranium oxide also continued to slide, falling to US$49 per lb. for the period.

Large base metal producers like Inmet Mining, First Quantum Minerals and Teck all felt the pinch, with Inmet losing $12.40 to finish at $28.65, First Quantum losing $10.83 to finish at $22.01 and Teck losing $6.02 to close at $16.36.

Royal Gold was the period’s largest gainer by value as it added $7.50 to its share price to end at $45. The Denver, Colo.-based company with a portfolio of gold royalties completed the acquisition of Barrick’s royalties. The deal will see Royal land 72 of Barrick’s royalties and brings the company’s portfolio up to 22 producing royalties, 6 development-stage properties, 27 evaluation-stage properties and 64 exploration projects.

After a large sell-off, Potash Corp. ofSaskatchewan made a comeback as its shares gained $7.25 to $102.50 and still climbing. Market pundits blamed the barring of short selling on financial institutions for much of the company’s recent woes, as short sellers turned to Potash Corp. in lieu of the financials. The company’s shares closed as high as $174 in mid-September before falling all the way to $92.25 at the beginning of the period. They were trading at $115.38 at presstime.

International Minerals was also a winner for the period. The Vancouver-based company gained 33% to finish at $4.15. It announced a deal with Radius Gold on its Rubi project in Peru. Rubi is an undrilled gold and silver property, and the deal with Radius allows International to earn into up to 60% of the project, provided it meets certain funding requirements.

TSX most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Yamana Gold YRI 35564 8.45 6.25 6.46 -0.56
Uranium One UUU 31005 1.64 0.85 0.91 -0.61
Goldcorp G 28809 36.45 28.04 29.69 + 2.71
Barrick Gold ABX 28264 41.75 33.08 35.22 + 2.42
Kinross Gold K 27796 18.75 14.30 15.02 + 0.30
Breakwater Res BWR 27013 0.19 0.09 0.10 -0.08
TeckCominB TCKB 21706 23.83 15.82 16.36 – 6.02
Eastern Platin ELR 18020 0.57 0.42 0.50 + 0.01
HoriznsGBull HGU 16690 13.99 9.50 10.20 +0.46
Cameco Corp CCO 14671 20.20 14.33 16.00 -3.75
TSX greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Diamond Fields DFI 31 0.15 0.06 0.09 +350.0
Mawson Res MAW 212 0.40 0.17 0.40 + 73.9
US Gold Can Ac UXE 17 0.90 0.44 0.80 + 53.8
Yukon Gold YK 30 0.10 0.06 0.09 + 50.0
Silver Wtn wtA SLW_TA 29 1.00 0.51 0.68 + 36.0
Golden Queen GQM 286 0.36 0.24 0.36 + 33.3
Intl Minls Crp IMZ 159 4.15 2.80 4.15 + 32.5
Mediterrn Res MNR 647 0.09 0.05 0.05 + 25.0
Vaaldiam Res VAA 4617 0.07 0.02 0.05 + 25.0
Tanz Roy Exp TNX 1416 3.65 2.20 2.60 + 20.9
Bannerman Res BAN 18 0.29 0.14 0.14 -68.1
Atlanta Gold ATG 1037 0.36 0.20 0.20 -62.2
St Andrew Gldf SAS 9861 0.21 0.08 0.11 -56.0
Frontera Coppr FCC 6278 0.70 0.25 0.30 -55.8
Klondex Mns KDX 242 0.62 0.31 0.31 -55.7
Sulliden Expl SUE 25 0.59 0.43 0.50 -53.2
Strateco Res RSC 2666 1.20 0.43 0.53 -52.6
Australn Solom SGA 27 0.20 0.10 0.10 -52.3
Genco Res GGC 568 0.89 0.30 0.41 -51.1
Golden Predatr GP 930 0.60 0.25 0.27 -50.9
TSX greatest value change
WEEK
VOLUME CLOSE CHANGE
Royal Gold RGL 14473 45.00 + 7.50
Potash Cp Sask POT 13189727 102.50 + 7.25
IShCOMEXGTr IGT 122452 100.00 + 7.15
Central Gold-T GTU_U 70554 45.50 + 4.78
Goldcorp G 28809089 29.69 + 2.71
Barrick Gold ABX 28264236 35.22 + 2.42
Central Fund CEFA 1322034 12.46 + 1.11
Intl Minls Crp IMZ 158665 4.15 + 1.02
Fording C C T FDG_U 7216690 85.00 + 0.99
Horizns G Bull HGU 16689556 10.20 + 0.46
Inmet Mining IMN 1610075 28.65 -12.40
First Quantum FM 2988284 22.01 -10.83
Teck Comin B TCKB 21705878 16.36 -6.02
Major Drilling MDI 1006078 17.47 -4.18
Timminco TIM 2239097 9.25 -4.00
Teck Comin A TCKA 40034 21.50 -3.99
Cameco Corp CCO 14670938 16.00 -3.75
Newmont Mng NMC 161646 34.00 -3.59
Horizns G Bear HGD 7219032 10.76 -3.24
Pan Am Silver PAA 1319929 15.65 -3.14
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