TORONTO STOCK EXCHANGE – DECEMBER 2-8

After four straight days of decline, the S&P/TSX composite index managed to regain its feet on Friday, Dec. 5, continuing to build momentum at the start of the new week and saving an otherwise bleak Dec. 2-8 trading period.

Sinking oil prices had been blamed for earlier period declines and the index fell below 8,000 points at one point. But a bounce in commodity prices at the end of the session helped the index get back above 8,000 and finish the period roughly 160 points higher than where it began at 8,567.12.

Despite the late rally, the gold price still finished the period down at US$767.25 per oz., but the yellow metal’s resilience relative to other metals continued to bolster faith in gold miners as evidenced by a 20-point rise in the Global Gold index to 244.32.

The bigger names in Canadian gold mining — Barrick Gold, Kinross Gold, Goldcorp and Yamana Gold — all made gains on heavy volumes. Barrick and Kinross led the charge, gaining $1.70 and $1.90 per share, respectively.

If only base metal producers could enjoy the same privileged status. The Metals and Mining index finished the period down 13 points at 204.20 as the prices of copper, aluminum, nickel, tin, lead and zinc all fell.

Burdened with debt and producing metals that have become unpopular in the current economic downturn, Teck continued its monumental slide. Its class B shares lost 71¢ to finish at $4.25 on a heavy trading volume of roughly 49 million shares. Those same shares fetched more than $50 apiece in May.

Perhaps sensing that Potash Corp. of Saskatchewan — a well-regarded company that produces a still-essential commodity — had simply lost too much market value, the market began to rally around the company. Potash shares recovered somewhat from recent losses as its shares gained $6.24 to finish at $76.99 for the period.

On the other end of the market cap spectrum, the much smaller West Timmins Mining also enjoyed a recovery of sorts. The company began the month by announcing it had struck 1.5 metres of 25.3 grams gold and 1 metre of 12.75 grams gold at its wholly owned Thorne property, in Timmins, Ont. That news helped bolster its shares by 78%, finishing at 25¢.

On the losing side was BRC Diamond-Core. The company lost roughly 48% of its share value and finished the period at just 23¢ after announcing it was suspending bulk sampling at some of its South African projects because of depressed diamond prices.

While it said all plant and equipment would be maintained, it cited a short-term need to conserve cash in light of current market conditions as the key motive for the decision. The company said it expected rough diamond prices to recover in 2009.

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Potash Cp Sask	POT	13526683	76.99	+ 6.24
Kinross Gold	K	30962034	18.87	+ 1.90
Newmont Mng	NMC	596277	39.28	+ 1.73
Barrick Gold	ABX	21470019	34.35	+ 1.70
IShCOMEXGTr	IGT	27999	95.67	+ 1.32
Allied Nevada	ANV	703960	4.01	+ 1.27
Migao	MGO	1884855	3.96	+ 1.21
Goldcorp	G	29713532	30.30	+ 1.15
Horizns G Bull	HGU	20335602	8.48	+ 1.14
Aurizon Mines	ARZ	3637431	3.45	+ 0.96
Harry Winston	HW	2373800	4.05	-1.35
Major Drilling	MDI	778287	10.96	-1.11
Agrium	AGU	9647200	33.35	-1.10
Minefinders	MFL	1427118	3.46	-1.04
Seabridge Gold	SEA	45529	11.60	-0.93
Quadra Mng	QUA	15603020	2.50	-0.81
Horizns G Bear	HGD	9867811	3.94	-0.81
First Quantum	FM	3213836	15.05	-0.75
Teck B	TCKB	48587421	4.25	-0.71
Intl Minls Crp	IMZ	1291600	1.25	-0.64

TSX most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Teck B	TCKB	48587	5.17	3.76	4.25	-0.71
Uranium One	UUU	41370	1.25	0.98	1.10	-0.10
Yamana Gold	YRI	40479	6.83	5.76	6.57	+ 0.57
Kinross Gold	K	30962	18.99	15.80	18.87	+ 1.90
Goldcorp	G	29714	31.25	25.57	30.30	+ 1.15
Eastern Platin	ELR	26759	0.28	0.22	0.26	+ 0.02
Barrick Gold	ABX	21470	35.25	29.46	34.35	+ 1.70
HoriznsGBull	HGU	20336	8.67	6.37	8.48	+1.14
Lundin Mng	LUN	19574	1.17	0.97	1.14	+ 0.05
Blue Note Mng	BN	19116	0.01	1.0E8	0.00	0.00

TSX greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Minco Silver	MSV	1286	0.85	0.34	0.85	+142.8
Colombia Goldf	GOL	2454	0.05	0.02	0.04	+100.0
WestTimminsM	WTM	729	0.28	0.15	0.25	+ 78.5
Golden Queen	GQM	47	0.20	0.14	0.17	+ 70.0
Volta Res	VTR	821	0.10	0.06	0.10	+ 66.6
Stingray Coppr	SRY	1744	0.30	0.16	0.28	+ 64.7
Mineral Depost	MDM	10	0.47	0.40	0.47	+ 56.6
Carlisle Goldf	CGJ	268	0.03	0.02	0.03	+ 50.0
American Bonan	BZA	990	0.03	0.02	0.03	+ 50.0
Allied Nevada	ANV	704	4.25	2.75	4.01	+ 46.3
Vaaldiam Res	VAA	797	0.02	0.01	0.01	-50.0
Ursa Major Min	UMJ	45	0.04	0.04	0.04	-50.0
Asbestos Corp	AB	13	0.16	0.10	0.16	-48.3
BRC DiamondCr	BCD	15	0.23	0.23	0.23	-47.7
Treasury Metal	TML	238	0.25	0.08	0.10	-44.4
Linear Metals	LRM	878	0.06	0.04	0.04	-42.8
Silver Bear Rs	SBR	1133	0.36	0.19	0.19	-40.6
Avnel Gold	AVK	1581	0.04	0.02	0.03	-40.0
African Copper	ACU	3750	0.05	0.03	0.03	-40.0
Energem Res	ENM	106	0.08	0.05	0.05	-37.5