Toronto Stock Exchange – DEC. 16-18

The Dec. 16-18 trading session may have been short, but it was full of surprises. A technical glitch linked to data feeds closed the TSX all day on Wed. Dec. 17 — the same day the Organization of the Petroleum Exporting Countries promised to remove 2.2 million barrels per day from the marketplace to stop the slide in oil prices. And in a television interview, Canadian Prime Minister Stephen Harper conceded his government would likely run a $30-billion deficit next year to pay for a stimulus package.

The S&P/TSX composite index fell 36.4 points, or 0.43%, to finish the abbreviated trading session at 8,425.35. (Since the beginning of the year, the index has plunged 39%.)

The Capped Metals and Mining index, meanwhile, fell 6.87 points, or 3%, to close the trading session at 224.36, while the Global Gold index dropped 12.74 points, or 4.4%, to 273.94.

Potash Corp. of Saskatchewan posted the biggest gain, despite an announcement on Dec. 18 that it was cutting its full-year earnings outlook from its previous guidance by 10%, or $10.75 per share.

In the same press release, the company said it still expects its fourth-quarter earnings to be the third highest in its history. Shares in the world’s biggest fertilizer company rose $4.41 to close the trading session at $90 apiece. Potash producer Agrium also fared well, rising $1.16 to $39 per share.

On the gold front, Central Gold-Trust, which primarily invests in long-term holdings of gold bullion, climbed $3.19 per share to $45.30. Seabridge Gold gained $1.86 to $15.15 on news that it had completed the sale of its 100%-owned Noche Buena gold project in Sonora, Mexico, to a joint venture between Fresnillo and Newmont Mining.

At closing, Seabridge was paid US$25 million in cash, with another US$5 million due when commercial production begins. A 1.5% net smelter royalty return is payable on all production sold for US$800 per oz. gold or greater. The cash will allow Seabridge to advance its core projects (KSM and Courageous Lake) towards feasibility without share dilution.

Finally, Teal Exploration & Mining topped the charts with the greatest percentage change over the period. Its shares soared 300%, rising $2.10 per share to close at $2.80, on news of a possible takeover by a 50-50 joint venture between African Rainbow Minerals, which currently owns about 65% of Teal, and Vale.

The offer for Teal represents a 400% premium over the company’s Dec. 12 closing price of 60¢ per share on the Toronto Stock Exchange and an 831% premium over the 30-day volume weighted average price of Teal shares.

Teal has a suite of projects in Africa, including copper deposits in Zambia, gold deposits in Namibia and copper-cobalt deposits in the Democratic Republic of the Congo.

TSX most active issues
	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Uranium One UUU	23995	1.63	1.31	1.45	+ 0.03
Yamana Gold YRI	19146	8.84	7.66	7.84	-0.24
Teck B TCKB	18012	6.42	5.24	5.38	-0.27
Goldcorp G	14435	39.55	33.50	34.49	-1.89
Kinross Gold K	13350	22.38	19.37	19.68	-1.07
Barrick Gold ABX	13210	43.00	38.95	40.50	-0.14
Eldorado Gold ELD	12814	9.40	7.79	7.96	-0.22
Blue Note Mng BN	11384	0.03	0.02	0.02	0.00
HoriznsGBull HGU	10946	12.78	10.12	10.60	-0.99
Thompson CreekTCM	9145	4.55	4.08	4.36	-0.03

TSX greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Teal Expl & Mg	TL	838	2.90	2.76	2.80	+300.0
Ursa Major Min	UMJ	18	0.06	0.04	0.06	+100.0
Zazu Metals	ZAZ	190	0.09	0.06	0.07	+ 75.0
Dynasty Met&Mn	DMM	243	2.50	1.31	2.25	+ 53.0
Faircourt Gold	FGX	18	8.52	5.70	8.52	+ 50.5
Cancor Mines	KCR	345	0.03	0.02	0.03	+ 50.0
Copper Mesa	CUX	326	0.03	0.01	0.03	+ 50.0
Anatolia Minls	ANO	802	1.59	1.10	1.50	+ 42.8
Coeur d Alene	CDM	425	1.20	0.80	1.20	+ 41.1
US Gold Can Ac	UXE	77	1.10	0.75	1.00	+ 35.1
Avnel Gold	AVK	33	0.04	0.02	0.03	-40.0
Australn Solom	SGA	1028	0.04	0.03	0.03	-40.0
Golden Peaks	GL	66	0.49	0.29	0.29	-38.3
Coalcorp Mng	CCJ	1516	0.25	0.14	0.16	-36.0
South Am Gld&C	SAG	1339	0.03	0.01	0.02	-33.3
BRC DiamondCr	BCD	109	0.30	0.24	0.24	-29.4
Africo Res	ARL	345	0.60	0.39	0.60	-28.5
Mawson Res	MAW	149	0.28	0.20	0.20	-28.5
Opawica Expl	OPW	124	0.14	0.10	0.10	-28.5
BioteQ Env	BQE	181	0.74	0.41	0.47	-27.6

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Potash Cp Sask	POT	5989716	90.00	+ 4.41
Central Gold-T	GTU_U	61971	45.30	+ 3.19
Faircourt Gold	FGX	18446	8.52	+ 2.86
Teal Expl & Mg	TL	838468	2.80	+ 2.10
Seabridge Gold	SEA	21931	15.15	+ 1.86
Inmet Mining	IMN	704434	18.67	+ 1.18
Agrium	AGU	3985019	39.00	+ 1.16
Minefinders	MFL	648264	5.78	+ 1.03
Silver Std Res	SSO	287415	16.60	+ 1.02
Detour Gold	DGC	538620	6.75	+ 0.95
Newmont Mng	NMC	129295	44.99	-1.90
Goldcorp	G	14435443	34.49	-1.89
Centerra Gold	CG	1172682	3.55	-1.20
Kinross Gold	K	13349858	19.68	-1.07
Horizns G Bull	HGU	10945702	10.60	-0.99
Altius Mnrls	ALS	209784	4.58	-0.88
Uranium Partic	U	729470	6.74	-0.81
Aurizon Mines	ARZ	2852709	3.50	-0.53
Cameco Corp	CCO	4001407	19.80	-0.45
IShCOMEXGTr	IGT	18019	101.45	-0.43