Toronto Stock Exchange -January 5-11

Stronger gold and oil prices helped boost the TSX Composite Index for the Jan. 5-11 period, but some sobering data at a presstime were signaling a slight correction.

Monetary tightening in China, and worse than expected earnings for Alcoa, had investors selling a basket of commodities including gold and oil.

Still, the index managed to etch out an 80-point gain for the period, finishing at 11,947.13.

Gold had been sailing along nicely, gaining roughly US$30 to US$1,153.00, which in turn helped the Global Gold Index gain 14 points to finish at 355.16.

The Capped Metals & Mining Index also benefited from higher copper, aluminum, tin, zinc and lead prices as it climbed 100 points to finish at 1,148.01.

Armistice Resources gathered a head of steam from drill results at its McGarry project in Kirkland Lake, Ont. The company said drilling showed a gold zone for its proposed mine to be much larger than anticipated. Armistice followed up the news with word that it was acquiring the Kerr mine, which adjoins McGarry. The past-producing Kerr mine contains four miles of strike straddling the gold producing Larder Lake-Cadillac structural break. The company’s shares were up 81% to 40¢ for the period.

The aquatic-minded Nautilus Minerals announced it had received its environmental permit from the government of Papua New Guinea. The permit paves the way for the approval of its mining lease application. Nautilus is exploring the territorial waters of Papua New Guinea for gold and copper-bearing massive sulphide deposits, and is advancing its Solwara 1 project there.

Nautilus shares were up 50% to $2.50 for the period.

More money for Franconia Minerals meant a higher market valuation. The company is developing the Birch Lake copper-nickel-platinum-palladium project in northeastern Minnesota, and has announced a private placement that will raise $4.2 million by issuing shares and warrants.

Rounding out the good news club was Cline Mining, which announced new debt and equity financings totalling $6.9 million. Cline says the funds will let it finish the rehabilitation of the New Elk metallurgical coking coal mine in Colorado. Cline shares were up 40% to 56¢ for the period.

Inspiration Mining, however, wasn’t able to muster similar positive interest in its shares. After announcing a resource estimate for two of its deposits at its Langmuir property in Ontario, the company’s shares promptly fell by 26% to 56¢.

The estimate put 8.3 million tonnes grading 0.4% nickel into the indicated resource category for the North Langmuir deposit and 1.7 million tonnes of 0.51% nickel in the indicated category for the Langmuir No. 1 deposit. The company says both deposits can be mined as open pits.

TSX most active issues
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Eastern Platin	ELR	92790	1.39	0.96	1.32	+ 0.36
First Metals	FMA	76479	0.04	0.01	0.03	+ 0.02
Breakwater Res	BWR	43363	0.52	0.43	0.49	+ 0.03
Mercator Mnls	ML	33639	3.45	2.61	3.26	+ 0.56
New Gold	NGD	33608	5.19	3.88	4.94	+ 0.94
Uranium One	UUU	29433	3.41	2.98	3.33	+ 0.34
Yamana Gold	YRI	28920	13.48	12.19	13.13	+ 0.85
Western C Coal	WTN	28666	4.42	3.76	4.22	+ 0.47
Lundin Mng	LUN	24563	5.18	4.50	5.11	+ 0.64
Baffinland Irn	BIM	19867	0.67	0.52	0.62	+ 0.08

TSX greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
First Metals	FMA	76479	0.04	0.01	0.03	+200.0
Armistice Res	AZ	1331	0.45	0.25	0.40	+ 81.8
Nautilus Minls	NUS	1770	2.76	1.65	2.50	+ 50.6
Copper Mesa	CUX	8592	0.09	0.05	0.06	+ 50.0
Canarc Res	CCM	690	0.19	0.14	0.19	+ 46.1
Ursa Major Min	UMJ	95	0.13	0.09	0.13	+ 44.4
Cline Mng	CMK	5218	0.60	0.40	0.56	+ 40.0
Franconia Mnls	FRA	3868	0.60	0.38	0.51	+ 37.8
Eastern Platin	ELR	92790	1.39	0.96	1.32	+ 37.5
Mediterrn Res	MNR	2998	0.19	0.12	0.16	+ 33.3
Inspiration Mg	ISM	3733	0.87	0.54	0.56	-26.3
Coalcorp Mng	CCJ	19151	0.32	0.20	0.20	-16.6
Goldn Pred R&D	GPD	827	0.80	0.69	0.69	-13.7
Stornoway Diam	SWY	9570	0.67	0.57	0.59	-11.9
Arehada Mining	AHD	98	0.20	0.16	0.16	-11.1
Acadian Mng	ADA	1484	0.09	0.08	0.09	-10.0
South Am Silvr	SAC	250	0.43	0.39	0.40	-9.0
Nevsun Res	NSU	2670	2.63	2.36	2.39	-8.7
Horizns G Bear	HGD	7544	4.48	3.93	4.07	-7.7
Grandview Gld	GVX	228	0.13	0.11	0.12	-7.6

13850

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
First Quantum	FM	3235063	94.75	+ 12.57
PotashCpSask	POT	6393379	126.95	+ 10.26
Agrium	AGU	5324040	71.54	+ 6.00
Inmet Mining	IMN	1235256	71.05	+ 4.65
Teck B	TCKB	13519373	42.20	+ 3.19
Teck A	TCKA	42.89	+ 2.94
Agnico-Eagle	AEM	3503087	61.52	+ 2.87
Labdr I-Ore Ro	LIF_U	407503	46.80	+ 2.80
Golden Mnls	AUM	17500	14.35	+ 2.80
IShCOMEXGTr	IGT	12473	116.70	+ 2.39
Cameco Corp	CCO	4957637	32.95	-1.75
HoriznsGBear	HGD	7544335	4.07	-0.34
Ram Power	RPG	1999132	3.83	-0.25
Nevsun Res	NSU	2669951	2.39	-0.23
Queenston Mng	QMI	1470455	5.31	-0.23
Inspiration Mg	ISM	3733444	0.56	-0.20
KirklandLkGd	KGI	849865	8.98	-0.13
Colossus Minls	CSI	2239192	5.69	-0.13
JinshanGoldM	JIN	3253021	3.19	-0.12
Major Drilling	MDI	391458	29.78	-0.12