Short Position Report (November 25, 2008)

TSX Short Positions
Short positions outstanding at Nov. 15/08 (with changes from Oct. 31/08).
Largest Short Positions
Security Ticker Total Short Change
Lundin Mining  LUN 24903342 1487711
Eldorado Gold  ELD 15275670 260000
Ivanhoe Mines  IVN 13888195 -1556529
Yamana Gold  YRI 13663299 -4173132
Teck Cominco  TCK.B 13594764 2505698
Kinross Gold  K 11664553 1337583
Red Back Mining  RBI 7805450 1174495
Uranium One  UUU 7732686 1304539
Thompson Creek  TCM 7339079 -1800744
Sherritt International  S 5954424 -344163
FNX Mining  FNX 5620914 128556
Cameco  CCO 5135424 -19673
Hudbay Minerals  HBM 4241502 673402
Golden Star Resources  GSC 3989312 305523
Iamgold  IMG 3915235 262167
Largest Increase in Short Position
Security Ticker Total Short Change
Ivernia  IVW 3633400 3583400
Teck Cominco  TCK.B 13594764 2505698
Eastern Platinum  ELR 3479333 2481556
Lundin Mining  LUN 24903342 1487711
Kinross Gold  K 11664553 1337583
Largest Decrease in Short Position
Security Ticker Total Short Change
Yamana Gold  YRI 13663299 -4173132
Pinetree Capital  PNP 1049681 -2945019
Brazilian Diamonds  BDY 0 -2240000
Thompson Creek  TCM 7339079 -1800744
Ivanhoe Mines  IVN 13888195 -1556529
TSX Venture Short Positions
Short positions outstanding at Nov. 15/08 (with changes from Oct. 31/08).
Largest Short Positions
Security Ticker Total Short Change
Crowflight Minerals  CML 3860000 3635000
Nevada Exploration  NGE 1725000 -1176000
Gold Wheaton Gold  GLW 1249673 -2546367
Westernzagros  WZR 1124527 -6984
Hathor Exploration  HAT 466500 303600
Western Lithium  WLC 304500 -96667
Alturas Minerals  ALT 300000 233500
Southern Arc  SA 280200 0
Constellation Copper  CCU.H 270000 0
Whitemud Resources  WMK 244357 -177
Sherwood Copper  SWC 211810 -200850
African Queen Mines  AQ 158000 -537667
NWM Mining  COL 147000 147000
North American Tungsten  NTC 145000 -63000
West Hawk Development  WHD 139000 -749500
Largest Increase in Short Position
Security Ticker Total Short Change
Crowflight Minerals  CML 3860000 3635000
Hathor Exploration  HAT 466500 303600
Alturas Minerals  ALT 300000 233500
NWM Mining  COL 147000 147000
Potash North Resource  PON.WT 105000 105000
Largest Decrease in Short Position
Security Ticker Total Short Change
Gold Wheaton  GLW 1249673 -2546367
Calibre Mining  CXB 0 -2230000
Raytec Metals  RAY 66000 -1351000
Nevada Exploration  NGE 1725000 -1176000
West Hawk Development  WHD 139000 -749500          

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