Toronto Stock Exchange November 13-19

Late November brought grey skies for investors as the TSX Composite Index fell 256.72 points over the Nov. 13-19 period to finish at 13,348.24. Tighter credit — linked to the subprime mortgage crisis, and signs that the U.S. economy is slowing — led to declines in materials shares over fears that U.S. demand will be crimped.

The price of gold was down US$24.65 to US$778.85, taking the Global Gold Index down with it. The index fell roughly 7 points to 298.89 with big names feeling the hit. Kinross Gold was down 20 to $1.61, Goldcorp fell $1.24 to $30.13 and Barrick Gold dropped $2.26 to $38.27.

The Capped Metals and Mining Index didn’t fare much better. It fell roughly 38 points to 757.04 points as the price of lead, zinc, nickel and aluminum all came off. Copper, however, climbed US5 to US$3.12 per lb. and tin was up US10 to US$7.76.

Base metal miners First Quantum Minerals, down $4.65 to $84.01, Hudbay Minerals, off $2.48 at $20.45, and Teck Cominco, whose B shares fell $2.25 to $39.33, all reflected the decline.

Uranium One was the period’s most popular, with roughly 45 million shares changing hands. The company announced third-quarter results highlighted by revenues of $8 million from the sale of 70,000 lbs. U3O8 with an average selling price of US$115 per lb. The company said earnings from mine operations came in at US$6.3 million. Uranium One shares finished 53 higher at $9.

Ontex Resources was the period’s biggest gainer by percentage. The London, Ont.-based company reported third-quarter results and announced it would start a drill program at its Brookbank gold property in western Ontario. The project has an indicated and inferred resource of 2.6 million tonnes grading 7.4 grams gold for 629,900 oz. gold at a cutoff grade of 3 grams per tonne.

First drill results from High Desert Gold’s Canasta Dorada gold project, in Mexico, were good enough to give the exploration junior a 14% boost to 48. The Vancouver-based company reported that its first hole hit 17 metres of mineralization grading 0.47 gram gold per tonne starting from surface. Assays for the rest of the hole are pending.

Western Canadian Coal saw its shares get hammered after announcing third-quarter results. The company reported a $43.9-million quarterly loss and said it was in need of funds to meet near-term financial obligations. Majority owner Cambrian Mining is expected to provide the needed capital. Western Canadian Coal shares fell nearly 63% to 59.

A new resource estimate for Aquiline Resources makes its Navidad project one of the biggest silver deposits in the world. The update put measured and indicated resources at 127.7 million tonnes grading 110 grams silver per tonne and 1.06% lead, for 453 million oz. silver and 3 billion lbs. lead. Aquiline shares finished the period up 17 at $10.60 apiece.

TSX greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Ontex Res	ONT	2983	0.66	0.44	0.56	+	21.7
Caldera Res	CDR	246	0.075	0.065	0.075	+	15.3
High Desert Gd	HDG	2148	0.59	0.40	0.48	+	14.2
CGA Mining	CGA	351	1.35	1.19	1.33	+	10.8
Polaris Minls	PLS	595	13.50	12.00	13.35	+	10.7
Gitennes Expl	GIT	70	0.38	0.335	0.37	+	8.8
Apollo Gold	APG	953	0.495	0.43	0.49	+	8.8
Minco Silver	MSV	576	3.47	2.93	3.20	+	8.4
Africo Res	ARL	101	2.40	2.21	2.35	+	7.8
Detour Gold	DGC	469	10.20	9.10	10.00	+	7.6
Western C Coal	WTN	24383	1.75	0.47	0.59	–	62.6
Coalcorp wt	CCJ_T	119	0.52	0.26	0.27	–	46.0
Birch Mountn	BMD	2201	0.97	0.57	0.60	–	38.7
South Am Silvr	SAC	566	0.67	0.45	0.45	–	31.8
HMZ Metals	HMZ	1954	0.035	0.025	0.025	–	28.5
Glencairn G wt	GGG_T	616	0.035	0.025	0.025	–	28.5
Cancor Mines	KCR	174	0.26	0.195	0.20	–	24.5
Coalcorp Mng	CCJ	3175	2.68	1.97	1.97	–	22.7
Gabriel Res	GBU	9284	2.09	1.39	1.51	–	22.5
Malaga	MLG	509	0.45	0.34	0.35	–	20.4

TSX greatest value change

		VOLUME	CLOSE		CHANGE
Potash Cp Sask	POT	5303410	105.70	+	5.20
MMX Min e Met	XMM	259068	22.00	+	1.55
Polaris Minls	PLS	594832	13.35	+	1.30
Labdr I-Ore Ro	LIF_U	433301	42.00	+	0.95
Agnico-Eagle	AEM	3849564	47.80	+	0.80
Kirkland Lk Gd	KGI	440407	13.52	+	0.79
Detour Gold	DGC	469238	10.00	+	0.71
Horizns G Bear	HGD	2044607	15.00	+	0.68
First Uranium	FIU	1029841	10.60	+	0.65
Meridian Gold	MNG	776923	34.57	+	0.62
First Quantum	FM	2939908	84.01	–	4.65
Thompson Creek	TCM	13750663	17.20	–	3.03
Russell Metals	RUS	1496308	24.97	–	2.88
HudBay Minls	HBM	6190696	20.45	–	2.48
North Am En Pa	NOA	17607	13.85	–	2.48
Barrick Gold	ABX	14194618	38.27	–	2.26
Teck Comin B	TCKB	14934748	39.33	–	2.25
Cameco Corp	CCO	8940053	39.94	–	1.69
Skye Res	SKR	882983	9.88	–	1.55
Katanga Mng	KAT	1036982	15.01	–	1.51

TSX most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Uranium One	UUU	45216	9.20	7.90	9.00	+	0.53
Breakwater Res	BWR	36128	2.16	1.68	1.71	–	0.30
Yamana Gold	YRI	33381	13.34	12.25	12.37	+	0.12
Eastern Platin	ELR	28957	2.78	2.50	2.51	+	0.03
Constel Copper	CCU	28146< /td>	0.16	0.10	0.105	–	0.01
Western C Coal	WTN	24383	1.75	0.47	0.59	–	0.99
Kinross Gold	K	22589	17.66	16.48	16.61	–	0.20
Lundin Mng	LUN	21022	10.94	9.35	9.39	–	1.04
Goldcorp	G	18235	33.14	30.06	30.13	–	1.24
Equinox Minls	EQN	17982	5.14	4.46	4.48		-0.00