TORONTO STOCK EXCHANGE OCTOBER 18-22

With the Bank of Canada holding rates at 1%, the TSX composite managed to hold on to much of its recent gains for the Oct. 18-22 period. The index fell a mere 11 points for the week, to 12,641.93.

The Bank of Canada’s move marked a pause down the path of gradual increases which it had embarked on since June. The halt came due to downgrades to the economic and inflation outlook

The Global Gold index, which had been falling while gold prices were rising over the last few periods, proved to be a leading indicator for where gold prices were going. The yellow metal finally began to fall off a bit, as it was down US$38 to US$1,322.50, and the Global Gold index finally moved in-step with its underlying commodity as it was off 11 points to end at 392.4.

The Capped Metals & Mining index continued on its torrid pace as it rose another 16 points to 1,248.97. That rise came despite the price of copper falling two pennies to US$3.76 per lb. The prices for aluminum, nickel and tin were also down, while the prices for lead and zinc were higher.

Acquiring a stake in the King-king copper-gold project in the Philippines helped to bolster Ratel Gold’s fortunes. The company was up 57% to 72¢ after announcing it will acquire Russell Mining & Minerals’ interest in King-king. The acquisition will cost Ratel a total of 155 million shares if it exercises all of its options on the project. King-king has a measured and indicated equivalent copper-gold resource of 791.5 million tonnes grading 0.82 gram equivalent gold for 20.7 million equivalent gold oz.

But Ratel wasn’t the only one feeling the market’s enthusiasm. Orezone Gold received a big lift to its share price after updating the resources estimate at its Bombore gold deposit in Burkina Faso. The company’s shares were up 56% to $2.41 after announcing that indicated resources now stand at 60.9 million tonnes grading 0.81 gram gold for 1.6 million oz. gold and inferred resources are at 60.6 million tonnes grading 0.96 gram gold for 1.9 million oz. gold.

The increase makes Bombore the largest undeveloped gold deposit in Burkina Faso. The company says it will embark on an infill and expansion drill program as it pushes to get a preliminary economic assessment on the project done.

Rockgate Capital managed to partake in the run up in uranium stock prices. With the price of uranium oxide finally getting into gear -it approached the US$50 per lb. mark -Rockgate’s recent drill results from its Falea project in Mali had a delayed but desirable effect. While the results came out on Oct. 14, the company’s shares only began to climb this week and were up 26% to $1.08. The drill results were highlighted by an intercept of 6 metres grading 1.24% U₃O₈ and 34.8 grams silver.

TSX most active issues
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Lundin Mng	LUN	40785	6.98	5.45	6.75	+ 1.11
Eastern Platin	ELR	32457	1.61	1.46	1.61	+ 0.03
KinrossGold	K	26752	19.17	17.83	18.06	-1.14
Western Coal	WTN	26617	7.13	5.94	7.07	+ 0.57
Yamana Gold	YRI	25778	11.38	10.82	11.01	-0.41
B2Gold	BTO	22040	2.22	1.95	2.15	+ 0.12
Farallon Res	FAN	20940	0.61	0.51	0.59	+ 0.03
Denison Mines	DML	17498	2.28	1.97	2.22	+ 0.20
Orezone Gold	ORE	17398	2.49	1.47	2.41	+ 0.87
Eldorado Gold	ELD	16030	18.35	16.79	17.27	-1.15

TSX greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Ratel Gold	RTL	8173	0.78	0.36	0.72	+ 56.5
Orezone Gold	ORE	17398	2.49	1.47	2.41	+ 56.4
Aquila Res	AQA	3129	0.89	0.54	0.88	+ 35.3
Peregrine Mtls	PGM	3637	0.90	0.69	0.88	+ 35.3
South Am Silvr	SAC	2600	1.47	1.03	1.40	+ 33.3
Bannerman Res	BAN	2677	0.49	0.40	0.48	+ 26.3
Rockgate Cap	RGT	2646	1.15	0.84	1.08	+ 25.5
SouthGobi Res	SGQ	779	12.80	9.82	12.07	+ 23.0
Golden Peaks	GL	250	0.60	0.44	0.60	+ 22.4
Strateco Res	RSC	2282	0.74	0.57	0.68	+ 21.4
Argonaut Gold	AR	3957	4.10	3.40	3.44	-17.1
Liberty Mines	LBE	1117	0.22	0.19	0.20	-16.6
Anaconda Mng	ANX	452	0.24	0.20	0.21	-16.0
Ursa Major Min	UMJ	579	0.12	0.10	0.11	-15.3
Treasury Metal	TML	278	0.65	0.54	0.57	-14.9
Genco Res	GGC	1710	0.52	0.45	0.46	-14.8
Polo Res	POL	27	0.06	0.06	0.06	-14.2
Timminco	TIM	4373	0.37	0.28	0.30	-14.2
Potash One	KCL	8616	3.90	3.30	3.39	-14.1
MInera IRL	IRL	94	1.45	1.20	1.27	-14.1

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Golden Mnls	AUM	326595	25.80	+ 4.32
SouthGobi Res	SGQ	779310	12.07	+ 2.26
Europn Goldfld	EGU	4031546	14.02	+ 1.60
Labdr I-Ore Ro	LIF_U	495367	57.43	+ 1.53
Lundin Mng	LUN	40784617	6.75	+ 1.11
Boliden AB	BLS	12681	17.99	+ 1.04
Agrium	AGU	3994924	89.16	+ 1.01
Orezone Gold	ORE	17397885	2.41	+ 0.87
Anvil Mining	AVM	4579269	4.84	+ 0.76
Cons Thomp Irn	CLM	9547816	10.22	+ 0.70
Seabridge Gold	SEA	160671	27.09	-3.03
Allied Nevada	ANV	2703204	23.75	-2.05
Newmont Mng	NMC	28655	60.58	-2.03
Goldcorp	G	11802687	43.19	-1.80
PotashCpSask	POT	2875089	145.08	-1.70
Osisko Mng	OSK	10079204	14.06	-1.50
CentralGold-T	GTU_U	39612	51.34	-1.34
Agnico-Eagle	AEM	3095690	72.17	-1.32
Alamos Gold	AGI	4213180	15.42	-1.28
Barrick Gold	ABX	15089960	47.26	-1.27