U. S. MARKETS – NOV. 25-DEC. 1

U. S. markets were down during the Nov. 25-Dec. 1 trading session on continued signs of a recession, both stateside and around the world. The Dow Jones Industrial Average was down 330 points, or 3.9%, to 8,149; the S&P 500 index fell 41 points, or 4.8%, to 816; and the Nasdaq declined 67 points, or 4.6%, to 1,398. Precious metal issues gave up some of their gains from the last session on falling gold and silver prices. The Amex Gold Bugs index was down 18 points, or 7.8%, to 212, and the Philadelphia Gold and Silver index was down 6 points, or 6.3%, to 89.

Scotia Economics expects the world economy to grow by only 1.5% in 2009. Scotia predicts the U. S. economy will contract by 1.8% next year, with U. S. unemployment reaching an average of 8.2%. The bank forecasts “a very modest rebound” in the second half of 2009. China’s economy will slow down, but it is still projected to grow by an average of 8% next year.

The biggest news in the mining sector this week was the withdrawal of the hostile takeover bid by BHP Billiton for Rio Tinto. Following the withdrawal, shares of mega-miner Rio Tinto fell by no less than 44% to US$81.05. Conversely, the market cheered BHP on the news, pushing up its shares by US$2.35 to US$35.77.

Shares in Ivanhoe Mines gained US36 to US$2.32. The company is advancing its Oyu Tolgoi copper-gold project in Mongolia with partner Rio Tinto, while majority-owned subsidiary South Gobi Energy Resources has started coal deliveries. One of the attractions of Ivanhoe is its liquidity, having reported US$427 million in consolidated working capital on Sept. 30.

Silver Wheaton reversed the decline in the precious metal sector, adding US14 to US$2.96. Earlier in November, the company reported earnings of US$20 million for the third quarter.

The potash sector continued to lose ground, with leader Potash Corp. of Saskatchewan falling US$3.17 to US$56.47 despite firm potash prices.

The coal sector fell on continued economic weakness, with major Peabody Energy declining US$2.02 to US$19.55.

U. S. most active issues
	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Vale* RIO	106450	12.61	10.40	10.46	-0.77
Alcoa* AA	79179	10.80	9.04	9.31	+ 0.16
Freeport McMo*FCX	61323	25.60	20.79	20.91	-1.01
Goldcorp* GG	51261	27.37	23.15	23.21	-2.39
Barrick Gold* ABX	45708	29.65	26.05	26.31	-1.60
PotashCSask*POT	41661	63.85	56.47	56.47	– 3.17
BHP Billi-BHP* BHP	37850	40.40	35.77	35.77	+ 2.35
Newmont Mng* NEM	36511	33.73	30.01	30.19	-1.30
Kinross Gold* KGC	35291	14.99	13.08	13.61	-0.67
Peabody Enrgy* BTU	28903	24.50	19.41	19.55	-2.02

U. S. greatest percentage change
		VOLUME	WEEK
		(000s) HIGH	LOW	CLOSE	CHANGE
Zoro Mng*	ZORO	141 0.12	0.06	0.09	+125.0
Global Gold*	GBGD	46 0.20	0.10	0.20	+122.2
Linux Gold*	LNXGF	386 0.08	0.02	0.08	+100.0
Colombia Gldf*	CGDF	24693 0.03	0.01	0.02	+100.0
Grandview Gld*	GVGDF	33 0.06	0.03	0.05	+ 66.6
Paramount Gld*	PZG	357 0.51	0.29	0.50	+ 56.2
Yellowcake Mg*	YCKM	26 0.07	0.05	0.07	+ 40.0
Cornerstone C*	CTNXF	19 0.04	0.04	0.04	+ 33.3
Beeston Ent*	BESE	395 0.08	0.03	0.08	+ 33.3
Tombstone Exp*	TMBXF	1608 0.09	0.06	0.09	+ 28.5
Raven Gold*	RVNG	111 0.02	0.01	0.01	-66.6
AmMex Gold*	AMXG	337 0.01	0.01	0.01	-50.0
Silver Res*	SLVV	227 0.16	0.09	0.09	-47.0
Rio Tinto*	RTP	9578108.32	81.05	81.05	-44.4
Samex Mng*	SMXMF	248 0.16	0.10	0.10	-44.4
Aspire Intl*	APIT	106 0.23	0.09	0.13	-35.0
Claude Res*	CGR	468 0.30	0.20	0.20	-33.3
Denison Mines*	DNN	195 1.20	0.71	0.76	-30.9
APEX Silver*	SIL	1941 0.81	0.53	0.53	-28.3
Minera Andes*	MNEAF	179 0.56	0.41	0.43	-25.8

U. S. greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
BHP Billi-BHP*	BHP	37850174	35.77	+ 2.35
BHP Billi-BBL*	BBL	10004346	31.39	+ 1.09
OM Group*	OMG	3014772	16.44	+ 1.04
North Am En P*	NOA	316300	2.97	+ 0.43
Ivanhoe Mines*	IVN	3547575	2.32	+ 0.36
Teck B*	TCK	16669057	3.93	+ 0.32
Paramount Gld*	PZG	357072	0.50	+ 0.18
Alcoa*	AA	79179079	9.31	+ 0.16
Silver Wheatn*	SLW	25946456	2.96	+ 0.14
Cameco Corp*	CCJ	10909262	16.03	+ 0.13
Rio Tinto*	RTP	9578308	81.05	-64.94
Royal Gold*	RGLD	2457125	34.84	-3.25
Potash C Sask*	POT	41661329	56.47	-3.17
Randgold Res*	GOLD	3641741	32.22	-2.62
ASA (Bermuda)*	ASA	269944	38.00	-2.59
Goldcorp*	GG	51260686	23.21	-2.39
Peabody Enrgy*	BTU	28902603	19.55	-2.02
Patriot Coal*	PCX	2478600	6.44	-1.96
Cleveland-Cli*	CLF	17278824	18.78	-1.90
Mosaic*	MOS	21781800	25.40	-1.76