TORONTO STOCK EXCHANGE -October 11-15

The TSX composite index continued to show strength on the back of strong commodity prices as the index rose 28 points for the holiday-shortened Oct. 12-15 period to finish at 12,609.07 points.

The rise came as the Canadian economy showed some positive growth signs with exports up 3%, and manufacturing sales up 2% for August. Future growth, however, is expected to be hampered by a higher loonie, which will strain exports. The Canadian dollar moved into near parity with the U.S. greenback over the week.

The continued softening of the U.S. dollar had the yellow metal up US$19 to US$1,367.50. For the most part, however, gold miners failed to participate in the upswing as evidenced by the Global Gold index finishing where it began at 402 points.

Unlike their cousins in the gold sector, diversified miners represented in the Capped Metals & Mining index continued to rise in step with growing metal prices. The index was up 20 points to 1,232.35 in a week that saw copper up a penny to US$3.79 per lb. The price of tin and lead were also higher and zinc finished up US3¢ at US$1.08 per lb. Aluminum fell a penny to US$1.07 per lb.

Marengo Mining is one step closer to getting its Yandera copper-molybdenum-gold project into production. The company announced it had signed a memorandum of understanding with a Chinese firm that covers financing and construction of the project, which sits in the Madang province of Papua New Guinea. Marengo is currently completing a feasibility study on the project and said the Chinese firm would be responsible for arranging 70% of the required funding from Chinese banks. Marengo expects to start construction in the first half of 2012. The company’s shares were up 35% to 23¢.

Aquila Resources and HudBay Minerals updated the market on the Back Forty project in the Upper Peninsula of Michigan, saying the project now has 18.1 million tonnes of measured and indicated resources and 3.2 million tonnes of inferred. The partners also announced results from the first deep holes drilled at the project, which returned 6.02 metres of 8.14 grams gold, 312.2 grams silver and 8% zinc; and 69.7 metres of 1.1 grams gold, 27 grams silver, 0.41% copper and 1.3% zinc. Aquila shares rose 33% to 65¢ while HudBay shares climbed 7% to $16.65.

Zincore Metals saw its share price fall after it announced that a director, Ignacio Rosado, was resigning from the company’s board. Zincore shares were off 22% to 47¢. Dalradian Resources disappointed the market with results from its Curraghinalt deposit in Northern Ireland. The highlight intercept came from infill drilling, which intercepted 1 metre grading 59.88 grams gold. Not enough to stop the market from sending its shares down 16% to $2.29.

TSX most active issues
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Eastern Platin	ELR	80568	1.70	1.47	1.58	+ 0.07
KinrossGold	K	30978	19.98	18.93	19.20	-0.05
Great Basin Go	GBG	21255	2.94	2.60	2.68	+ 0.11
Yamana Gold	YRI	19999	11.90	11.37	11.42	-0.29
Uranium One	UUU	19554	3.98	3.66	3.85	+ 0.21
Teck B	TCKB	17513	46.60	43.59	46.01	+ 1.00
Crowflight Mnl	CML	16142	0.06	0.05	0.06	0.00
Lundin Mng	LUN	15735	5.83	5.32	5.64	+ 0.14
Barrick Gold	ABX	15180	49.77	48.19	48.53	-0.55
Farallon Res	FAN	15173	0.57	0.49	0.56	+ 0.07

TSX greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Energy Fuels	EFR	3871	0.63	0.34	0.62	+ 82.3
Homeland Enrgy	HEG	8825	0.10	0.08	0.09	+ 50.0
EMC Metals	EMC	3241	0.14	0.07	0.10	+ 42.8
Powertech Uran	PWE	958	0.35	0.22	0.34	+ 36.0
Marengo Mng	MRN	2456	0.26	0.18	0.23	+ 35.2
South Am Gld&C	SAG	8738	0.04	0.03	0.04	+ 33.3
Aquila Res	AQA	2675	0.68	0.47	0.65	+ 32.6
Ur-Energy	URE	2410	1.28	1.07	1.27	+ 30.9
Ivernia	IVW	1528	0.42	0.32	0.40	+ 25.0
Vena Res	VEM	814	0.32	0.27	0.32	+ 23.0
Zincore Mtls	ZNC	3048	0.58	0.44	0.47	-21.6
Adanac Moly	AUA	1429	0.05	0.04	0.04	-20.0
Dalradian Res	DNA	1760	2.65	2.14	2.29	-16.1
Olympus Pacif	OYM	2393	0.61	0.50	0.50	-15.2
Carpathian Gld	CPN	8793	0.68	0.54	0.54	-14.2
Thundermin Res	THR	492	0.14	0.12	0.12	-14.2
PolyMet Mng	POM	1776	2.18	1.62	1.73	-13.0
Gold Reserve	GRZ	161	1.63	1.36	1.41	-11.8
Talison Lithm	TLH	942	5.48	4.62	4.80	-10.9
DynacorGoldM	DNG	517	0.88	0.71	0.75	-10.7

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Agrium	AGU	4383812	88.15	+ 6.03
Inmet Mining	IMN	1349998	64.01	+ 4.00
Silver Std Res	SSO	812402	24.55	+ 2.30
Golden Mnls	AUM	380620	21.48	+ 2.10
Major Drilling	MDI	252973	33.60	+ 1.94
Pan Am Silver	PAA	1264653	3 1.65	+ 1.41
Labdr I-Ore Ro	LIF_U	207397	55.90	+ 1.37
Silver Wheaton	SLW	8305072	28.08	+ 1.11
Osisko Mng	OSK	10276795	15.56	+ 1.07
Teck B	TCKB	17512907	46.01	+ 1.00
First Quantum	FM	2386406	83.07	-1.56
Allied Nevada	ANV	2672389	25.80	-1.05
Newmont Mng	NMC	52346	62.61	-0.94
CIC Energy	ELC	1672717	5.79	-0.66
PotashCpSask	POT	3024743	146.78	-0.62
Talison Lithm	TLH	942144	4.80	-0.59
Grande Cache C	GCE	10465921	6.77	-0.58
Barrick Gold	ABX	15180196	48.53	-0.55
Dalradian Res	DNA	1760437	2.29	-0.44
PremierGoldM	PG	774219	5.44	-0.39