TSX VENTURE EXCHANGE – OCT. 28 -NOV. 3

Market winds finally reversed direction during the Oct. 28-Nov. 3 trading week on the S&P-TSX Venture Composite Index. The board posted five consecutive gains to close up 126.6 points at 935.6. Trading volume matched some of the tentative confidence invested this past week; the blistering pace was set on the session’s first day, which saw about 147 million shares exchanged, the highest level of trading in eight months. Overall, the average daily trading volume was strong at 91.6 million.

Although 496 companies reached new lows and there were no new highs, that is to be expected given the Mariana Trenchlike depths to which the Venture board has sunk.

For a fair number of companies, no news was necessary to post gains. SouthGobi Energy Resources ended the week $1.74 higher to close at $8.40. It has been three months since coal deliveries to China from the company’s Ovoot Tolgoi coal mine in Mongolia began. Chesapeake Gold was another to rise without news. It posted a $1.05 gain to close at $3.31. Chesapeake’s updated resource for its flagship Metates property, in Mexico, is pending. A historic resource estimates Metates hosts 786 million tonnes grading 0.81 gram gold per tonne, 15.6 grams silver and 0.16% zinc. The updated resource depends on getting results from the junior’s 2008 drill program, completed in September.

In B. C., Terrane Metals rode good news about its Mt. Milligan property. It announced awarding its engineering design and procurement project to Wardrop Engineering. In its feasibility study of the planned 60,000-tonne-per-day project, the copper-porphyry deposit weighed in at 334 million proven and probable tonnes grading 0.217% copper and 0.426 gram gold. Pending financing, construction is scheduled to begin in the third quarter of 2009. Terrane saw 12.7 million shares trade hands, pushing the stock up 12 to 22.

Some other notable lifts during the trading session were Digger Resources, up 70 to close at $1, Goldsource Mines, up 66 to close at $1.69, and Pacific Booker Minerals, up 65 to close at $4.15.

It was a hard week for others. Archangel Diamond had posted a 37 gain on the last day of the previous trading session, closing at 61. But on Oct. 28, it plummeted back down, dropping 27 to close at 34.

The buffeting extends from a mixed bag of good and bad news for Archangel. On the one hand it had to return about US$174 million in private-placement subscription receipts, but on the other, it received substantive information regarding conditions to the Russian government’s consent of its 49.99% stake in the Verkhotina diamond project, 115 km northeast of Arkhangelsk. Archangel may proceed so long as it processes diamonds in Russia at a volume agreed by the government. Given the return of escrowed funds, Archangel expects to draw on a US$115-million standby credit facility extended by De Beers.

TSX-V most active issues
	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Terrane Metals TRX	12669	0.24	0.10	0.22	+ 0.13
US Silver USA	10537	0.10	0.06	0.09	+ 0.01
Everton Res EVR	8108	0.06	0.05	0.06	-0.01
MacDonald Mns BMK	6614	0.08	0.05	0.08	+ 0.03
KWG Res KWG	6330	0.02	0.01	0.02	0.00
Axmin Inc AXM	6160	0.16	0.09	0.12	+ 0.01
Ecometals EML	5764	0.05	0.04	0.04	-0.01
NWT Uranium NWT	5068	0.04	0.02	0.03	0.00
Metalex Vent MTX	4989	0.05	0.03	0.04	0.00
Atacama Min AAM	4964	0.35	0.33	0.35	-0.02

TSX-V greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Lakota Res	LAK	284	0.17	0.09	0.17	+240.0
Digger Res	DIG	15	1.00	0.40	1.00	+233.3
Capella Res	CPS	1043	0.05	0.02	0.03	+200.0
Solid Res	SRW	28	0.10	0.08	0.09	+200.0
Dorex Minls	DOX	463	0.06	0.03	0.05	+150.0
Terrane Metals	TRX	12669	0.24	0.10	0.22	+144.4
Oriental Mnls	OTL	274	0.12	0.05	0.12	+140.0
Milner Con Slv	MCA	25	0.45	0.45	0.45	+125.0
Queensland Mnl	QML	428	0.09	0.04	0.09	+125.0
Eloro Minls	ELO	14	0.10	0.05	0.09	+125.0
First Pursuit	FPV	25	0.06	0.04	0.05	-78.2
Castle Res	CRI	50	0.05	0.04	0.04	-69.2
Puget Vent	PVS	109	0.30	0.24	0.25	-68.7
Archangel Dia	AAD	1235	0.34	0.20	0.23	-62.3
Soltoro	SOL	73	0.05	0.02	0.02	-60.0
Northern Plat	NTH	21	0.31	0.17	0.17	-57.5
Viking Gold	VGC	74	0.03	0.03	0.03	-57.1
Colombian Mins	CMJ	52	0.05	0.04	0.04	-55.5
New World Res	NW	130	0.11	0.04	0.08	-55.5
Inlet Res	INL	15	0.07	0.05	0.05	-50.0

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
SouthGobi Engy	SGQ	10100	8.40	+ 1.74
Chesapeake Gld	CKG	102357	3.31	+ 1.05
Digger Res	DIG	14500	1.00	+ 0.70
Goldsource Min	GXS	1453666	1.69	+ 0.66
Pac Booker Min	BK M	26091	4.15	+ 0.65
Hathor Expl	HAT	2709678	1.80	+ 0.50
Antares Minls	ANM	71000	1.15	+ 0.50
Maudore Minls	MAO	77624	1.70	+ 0.45
Exeter Res	XRC	1252330	1.59	+ 0.43
Bralorne Gold	BPM	30500	0.85	+ 0.40
Puget Vent	PVS	109000	0.25	-0.55
Archangel Dia	AAD	1234900	0.23	-0.38
Northern Plat	NTH	20500	0.17	-0.23
Sacre-Coeur Ml	SCM	58300	0.45	-0.19
WinEldrichMn	WEX	38000	0.37	-0.18
First Pursuit	FPV	24572	0.05	-0.18
Helio Res	HRC	665600	0.20	-0.17
Oromin Expl	OLE	110002	0.75	-0.15
EurOmax Res	EOX	17500	0.15	-0.14
Golden Goose	GGR	16674	0.14	-0.13