Toronto Stock Exchange -Jan. 26-Feb. 1

The TSX composite index slid 36.96 points over the Jan. 26-Feb. 1 trading period to close at 11,317.55 points, despite news that Canada’s largest trading partner experienced its fastest growth rate in six years.

China’s plan to cool its surging economy, which would lessen the country’s need for resources, is being blamed for the benchmark’s decline. This was evident in the Capped Metals and Mining index, which pulled down the TSX by 4.4%, or 45.99 points, to close at 998.97, a substantial loss for the second week running.

The Global Gold index barely moved, up less than a point, to close at 315.65 points.

Athabasca Potash was the top gainer over the period, up 30%, or $1.93, to $8.31 apiece after news it had agreed to be taken over by BHP Billiton for $341 million in cash. Athabasca’s Burr potash project is right next to BHP’s Jansen project, a proposed underground potash mine in east-central Saskatchewan. BHP will pay $8.35 for each Athabasca share, which is a decent premium for Athabasca shareholders — the 52-week trading range, before the offer fluctuated between $1.44 and $7.06.

Another takeover offer pushed up uranium-focused Khan Resources shares by about 28% to close at an even $1 per share over the period. The company announced on Feb. 1, that it had made and agreement with CNNC Overseas Uranium Holding, a Beijing-based Chinese nuclear energy corp., to be acquired for 96¢ per share. The CNNC offer contains far fewer conditions than a recent 65¢-per share bid by Atomredmetzoloto JSC. Khan’s main project is the Dornod uranium property in northeastern Mongolia, the site of a former Russian open-pit uranium mine.

Results of a 49.6-tonne sample of surface material at Peregrine Diamond’s Childliak project on Baffin Island, Nunavut did not please investors this time around. Peregrine shares plummeted by nearly 30% over the period to close at $1.53 per share, although the company did find that the CH-1 kimberlite returned 20.25 carats of commercial-sized diamonds larger than 0.85 mm for a diamond content of 0.41 carat per tonne.

Potash Corp. of Saskatchewan reported that annual earnings fell to $987.8 million in 2009, or $3.25 per share, compared to $3.5 billion, or $11.01 per share in 2008. Potash Corp.’s stock fell $6.06 to $110.07 apiece. However, the company says the fourth quarter marked the beginning of a recovery in global demand for fertilizers.

First Quantum Minerals’ share price fell $7.02 to $81.28. The company has restarted operations at its Bwana Mkubwa copper plant in Zambia after a shutdown related to a dispute with the Democratic Republic of the Congo, located next door. It also started international arbitration with its partners against Gcamines and the DRC related to its Kolwezi tailings exploitation permit in the DRC.

TSX most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Eastern Platin ELR 35912 1.28 1.16 1.27 + 0.02
Yamana Gold YRI 24570 11.49 10.75 11.35 + 0.20
Teck B TCKB 22372 39.52 34.84 36.70 -2.44
Barrick Gold ABX 20515 38.98 37.03 38.80 + 0.73
Lundin Mng LUN 20426 4.62 4.12 4.47 -0.22
Breakwater Res BWR 19386 0.46 0.39 0.43 0.00
Athabasca Pota API 18204 8.31 6.41 8.31 + 1.93
HoriznsGBull HGU 17505 11.16 9.77 10.74 -0.04
First Metals FMA 16995 0.03 0.02 0.02 0.00
Vaaldiam Res VAA 16958 0.06 0.03 0.05 + 0.03
TSX greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Vaaldiam Res VAA 16958 0.06 0.03 0.05 +150.0
Crew Gold CRU 11544 0.19 0.12 0.15 + 36.3
Athabasca Pota API 18204 8.31 6.41 8.31 + 30.2
Khan Res KRI 5621 1.02 0.78 1.00 + 28.2
Freegold Vent ITF 48 0.10 0.09 0.10 + 25.0
Adanac Moly AUA 3468 0.14 0.09 0.12 + 20.0
Crystallex Int KRY 2868 0.34 0.26 0.34 + 17.2
Ventana Gold VEN 2672 7.44 6.14 7.36 + 15.3
Jinshan Gold M JIN 2569 2.88 2.40 2.86 + 14.4
Globex Mng GMX 128 1.65 1.10 1.50 + 13.6
Peregrine Diam PGD 4097 2.19 1.40 1.53 -29.8
VG Gold VG 1325 0.35 0.26 0.27 -27.0
Franconia Mnls FRA 1148 0.71 0.56 0.56 -21.1
PC Gold PKL 824 0.62 0.49 0.49 -20.9
DynacorGoldM DNG 424 0.22 0.16 0.17 -19.0
Powertech Uran PWE 1486 0.43 0.33 0.35 -18.6
Western Areas WSA 1706 4.60 3.62 3.75 -18.4
Tanz Roy Exp TNX 1310 4.93 3.67 4.19 -15.6
Linear Metals LRM 525 0.26 0.21 0.22 -15.3
Stornoway Diam SWY 4677 0.61 0.49 0.52 -14.7
TSX greatest value change
WEEK
VOLUME CLOSE CHANGE
Athabasca Pota API 18204194 8.31 + 1.93
IShCOMEXGTr IGT 23044 115.24 + 1.42
Newmont Mng NMC 36517 48.05 + 1.41
Agnico-Eagle AEM 3688910 57.22 + 1.12
Allied Nevada ANV 1884970 14.63 + 1.10
Ventana Gold VEN 2672396 7.36 + 0.98
Detour Gold DGC 4054834 15.72 + 0.88
Barrick Gold ABX 20515291 38.80 + 0.73
Europn Goldfld EGU 3187960 6.08 + 0.62
CentralGold-T GTU_U 12055 45.59 + 0.57
First Quantum FM 3506359 81.28 -7.02
PotashCpSask POT 5900522 110.07 -6.06
Teck B TCKB 22372141 36.70 -2.44
Teck A TCKA 23525 37.50 -2.21
SouthGobi Engy SGQ 1534535 16.18 -1.89
Quadra Mng QUA 4899485 15.06 -1.37
Golden Mnls AUM 34635 11.58 -1.22
Seabridge Gold SEA 197902 27.59 -1.21
Inmet Mining IMN 3537529 55.91 -1.10
Western Areas WSA 1705640 3.75 -0.85
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