Toronto Stock Exchange – November 3-9

Mining stocks rallied on the Toronto Stock Exchange over the Nov. 3-9 reporting period as the price of gold topped a record-setting US$1,106.75 per oz. At the same time, finance ministers from the Group of 20 countries agreed to keep interest rates low and maintain record budget deficits until the economic recovery takes hold.

The S&P/TSX composite index surged 5.6%, or 608.5 points, to close at 11,486.88, following two weeks of declines, nearly returning to levels reached last month.

The Capped Metals and Mining index rose 9.2%, or 81.49 points, to 9,970.57.

At the same time, the Global Gold index jumped 13.3%, or 42.3 points, to 361.08 in response to the increase in demand from central banks now buying up the yellow metal in response to weakness in the U. S. dollar and rising long-term inflation expectations.

The big gold miners led the advances in value and volume over the period. Newmont Mining shares increased the most on a dollar basis, rising $6.50 to $53.40. Goldcorp shares were up $6.37 to $46.49, while Royal Gold climbed $6.30 to $53.93, and Barrick Gold was $5.94 higher at $45.33.

Potash Corp. of Saskatchewan also made a significant gain, rising $6 to $105.50.

On the losing side of the list, the moves were less pronounced. Linear Gold, for example, was down 14¢ to $2. The company announced an equity offering at a 10% discount to its closing price the day before. Linear is raising $20.3 million by issuing 9.05 million units at $2.10 apiece, plus about 520,000 flow-through shares at $2.40 apiece. The funds will be used to help fund the development and construction of its Goldfields development project, near Uranium City, Sask. The project hosts reserves of 10.9 million tonnes grading 1.7 grams gold per tonne for 601,000 oz., and measured resources of 16.9 million tonnes at 1.39 grams gold for 753,000 oz. gold.

Greystar Resources was one of the top gainers on a percentage basis, jumping 45% to $6.40 a share. The company is going to do metallurgical testing to investigate using agitation leach and/or pre-oxidation as processing methods for intermediate sulphide ore at its Angostura silver-gold deposit, in northeastern Colombia. Current reserves at the project could support a mine producing 511,000 oz. gold and 2.3 million oz. silver annually for 15 years.

Dynasty Metals & Mining shares jumped 44% to $5.81 over the period. The company closed a $6-million financing with shares priced at $4 apiece. The funds will be used to develop the company’s properties in Ecuador, where a new mining law was signed on Nov. 5.

Kinross Gold, which holds the prized Fruta del Norte project in Ecuador, didn’t do as well as its peers, rising only 84¢ to $20.60. The company reported a surprise net loss of $21.5 million for the third quarter, blaming problems with the expansion at its Paracatu mine in Brazil.

TSX most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Yamana Gold	YRI	39127	13.45	11.41	13.40	+ 1.75
Kinross Gold	K	37580	21.00	18.82	20.60	+ 0.84
Centamin Egypt	CEE	30645	2.56	2.18	2.46	+ 0.26
Eldorado Gold	ELD	28298	14.31	11.85	13.86	+ 1.81
Barrick Gold	ABX	26504	45.93	38.85	45.33	+ 5.94
HoriznsGBull	HGU	26290	14.88	11.12	14.51	+ 3.08
Osisko Mng	OSK	23619	7.96	7.25	7.80	+ 0.51
New Gold	NGD	23159	4.52	3.95	4.48	+ 0.48
Lake Shore Gld	LSG	22473	4.20	3.54	4.07	+ 0.57
HoriznsGBear	HGD	22206	5.62	4.08	4.20	-1.30

TSX greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Arehada Mining	AHD	30	0.17	0.12	0.13	+ 85.7
BRC DiamondCr	BCD	322	0.08	0.05	0.08	+ 60.0
Greystar Res	GSL	10414	7.07	4.35	6.40	+ 45.4
Dynasty Met&Mn	DMM	5347	6.20	3.99	5.81	+ 44.1
St Andrew Gldf	SAS	2169	0.69	0.48	0.66	+ 40.4
Ventana Gold	VEN	6868	12.91	9.35	12.05	+ 34.6
Contl Precious	CZQ	509	0.63	0.46	0.63	+ 34.0
Moneta Porcpn	ME	3340	0.27	0.18	0.24	+ 33.3
Katanga Mng	KAT	1690	0.82	0.61	0.80	+ 31.1
Witwatersrand	WGR	17	13.92	11.00	13.50	+ 30.8
Horizns G Bear	HGD	22206	5.62	4.08	4.20	-23.6
North Atlc Res	NAC	137	0.06	0.05	0.05	-16.6
Crew Gold	CRU	763	0.23	0.19	0.20	-16.6
Crescent Gold	CRA	43	0.24	0.19	0.21	-16.0
Solitario Res	SLR	59	2.33	2.05	2.05	-14.5
Revett Mnls	RVM	1239	0.22	0.18	0.19	-13.6
Delta Uran	DUR	150	0.09	0.07	0.07	-12.5
South Am Silvr	SAC	221	0.53	0.44	0.45	-11.7
Zazu Metals	ZAZ	176	0.22	0.19	0.20	-9.0
Baja Mng	BAJ	603	0.80	0.70	0.71	-8.9

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Newmont Mng	NMC	172068	53.40	+ 6.50
Goldcorp	G	19829608	46.49	+ 6.37
Royal Gold	RGL	20321	53.93	+ 6.30
Potash Cp Sask	POT	3919127	105.50	+ 6.00
Barrick Gold	ABX	26503540	45.33	+ 5.94
Inmet Mining	IMN	1609239	63.68	+ 5.78
Seabridge Gold	SEA	367029	26.91	+ 4.72
Agnico-Eagle	AEM	6919729	63.24	+ 4.54
IAMGold Corp	IMG	19710497	18.49	+ 4.18
HudBay Minls	HBM	10304113	16.97	+ 3.35
Horizns G Bear	HGD	22206436	4.20	-1.30
Solitario Res	SLR	59050	2.05	-0.35
Global Ur Fund	GUR	30240	2.52	-0.21
Linear Gold	LRR	3471754	2.00	-0.14
US Gold Can Ac	UXE	22129	2.88	-0.12
DundeePrecMt	DPM	1601698	3.49	-0.11
Foraco Intl	FAR	146600	2.00	-0.10
Norsemont Mng	NOM	237900	1.99	-0.09
Gold Reserve	GRZ	342482	1.26	-0.08
Peregrine Diam	PGD	1430335	2.31	-0.07