Toronto Stock Exchange -Jan. 19-25

Miners helped drag down the TSX composite index over the Jan. 19-25 trading period in a serious way. The TSX itself fell 3.3%, or 396.03 points, to 11,354.51 points while the Capped Metals and Mining index plunged 8.2%, or 93.34 points, to 1,044.96 and the Global Gold index dropped 6%, or 19.96 points to close at 314.77 points.

Contributing to the drop was the concern that surging growth in China may prompt the Peoples Bank of China to take measures to cool it down, thus limiting the country’s consumption of commodities.

The most actively traded mining stocks in Toronto were precious metals and energy companies, and most were down over the period. Eastern Platinum was the most actively traded stock by a long shot with 89.7 million shares changing hands to ultimately push the stock down 17¢ to $1.25.

First Uranium shares were the second most actively traded with 25.6 million shares traded as the stock fell 71¢ to $1.85. The company’s tailings permit for its MWS tailings recovery project in South Africa was withdrawn by the local government’s environmental authority.

The decision was unexpected and the company is seeking clarification on the decision before undertaking any action.

Seabridge Gold rose the most over the period by dollar value. Seabridge shares climbed $2.01 apiece to close at $28.80.

Earlier this month, the company announced a major resource boost for the Mitchell zone at its KSM property near Stewart, B.C. Measured and indicated resources stand at 33.7 million oz. gold and 6.5 million lbs. copper contained in 2.1 billion tonnes grading 0.57 gram gold per tonne and 0.17% copper.

Imperial Metals shares rose $1.55 to $16 apiece following a ruling by the Supreme Court of Canada regarding the company’s environmental permits.

The court ruled that the company would not need to repeat the environmental assessment process for its Red Chris copper gold project 80 km south of Dease Lake, B.C. A 2005 feasibility supported a 30,000-tonne-per-day operation over 25 years.

Inmet Mining was the top loser by value over the period, with shares sinking $12.66 to $57.01. The company is unable to reach commercial production at its Las Cruces project -in the fourth quarter the company produced only 3,300 tonnes of copper cathode compared to its estimate of 8,700 tonnes.

Inmet said the leach thickener’s corrosion protection failed, causing the drive mechanism to fail completely in October.

The company has since worked on improving the filtration and conveyor operation.

Heavy rain slowed down throughput in December by forcing the company to use the water treatment plant to reduce critically high water levels in the process ponds.

TSX most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Eastern Platin ELR 89692 1.50 1.13 1.25 -0.17
First Uranium FIU 25622 2.66 1.79 1.85 -0.71
Yamana Gold YRI 24454 12.12 11.15 11.15 -0.90
Breakwater Res BWR 23556 0.51 0.41 0.44 -0.03
Barrick Gold ABX 22786 40.94 38.07 38.07 -2.25
Eldorado Gold ELD 22740 15.19 13.56 13.67 -1.35
Western C Coal WTN 22399 4.04 3.31 3.46 -0.39
Uranium One UUU 22044 3.55 3.30 3.39 + 0.01
Homeland Enrgy HEG 17844 0.11 0.10 0.10 -0.01
IAMGold Corp IMG 17022 17.26 14.54 14.90 -2.35
TSX greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Tanz Roy Exp TNX 842 5.15 4.03 4.97 + 23.0
Polaris Minls PLS 180 2.25 1.85 2.18 + 21.7
Delta Uran DUR 487 0.07 0.06 0.06 + 20.0
DynacorGoldM DNG 212 0.22 0.17 0.22 + 15.7
Horizns G Bear HGD 11619 5.19 4.46 5.12 + 13.0
Corona Gold CRG 123 0.47 0.40 0.47 + 11.9
Khan Res KRI 1927 0.83 0.64 0.78 + 11.4
Adanac Moly AUA 2599 0.10 0.09 0.10 + 11.1
Imperial Metal III 1028 16.93 14.70 16.00 + 10.7
Linear Metals LRM 857 0.28 0.25 0.26 + 8.3
Copper Mesa CUX 13397 0.07 0.03 0.03 -57.1
First Uranium FIU 25622 2.66 1.79 1.85 -27.7
Contl Precious CZQ 2698 1.32 0.94 1.00 -25.9
Mundoro Cap MUN 290 1.26 0.95 0.95 -24.6
Pure Nickel NIC 557 0.17 0.13 0.13 -23.5
Coalcorp Mng CCJ 5282 0.19 0.14 0.15 -21.0
Jaguar Mng JAG 3600 13.28 10.53 11.00 -18.4
Detour Gold DGC 3385 18.12 14.78 14.84 -18.2
Inmet Mining IMN 3131 71.02 55.51 57.01 -18.1
Golden Peaks GL 75 0.95 0.74 0.78 -17.8
TSX greatest value change
WEEK
VOLUME CLOSE CHANGE
Seabridge Gold SEA 296157 28.80 + 2.01
Imperial Metal III 1027738 16.00 + 1.55
Tanz Roy Exp TNX 842123 4.97 + 0.93
HoriznsGBear HGD 11619136 5.12 + 0.59
Polaris Minls PLS 179880 2.18 + 0.39
FNX Mining FNX 12786388 12.89 + 0.20
Far West Mng FWM 206297 4.10 + 0.16
Mantra Res MRL 577800 5.05 + 0.12
Intl Minls Crp IMZ 343293 4.37 + 0.12
Copper Mtn Mng CUM 3492592 2.48 + 0.11
Inmet Mining IMN 3130830 57.01 -12.66
First Quantum FM 2865871 88.30 -11.49
Silver Std Res SSO 864244 19.95 -4.20
Agrium AGU 4631465 62.38 -3.41
Detour Gold DGC 3384551 14.84 -3.31
PotashCpSask POT 4510833 116.13 -3.07
Coeur d Alene CDM 125900 16.65 -2.71
Agnico-Eagle AEM 4844675 56.10 -2.70
Goldcorp G 16673398 38.26 -2.65
Franco-Nevada FNV 2369870 27.43 -2.58
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