TORONTO STOCK EXCHANGE -November 1-5

The TSX composite index responded well to quantitative easing south of the border. The index was up 219 points for the Nov. 1-5 period, finishing at 12,944.92.

But while the second round of quantitative easing improved market sentiment, without U.S. demand picking up, pundits fear that economic growth in Canada will be difficult.

More American dollars in the system made for a stronger Canadian dollar, which hurt Canadian exporters.

Quantitative easing also had the expected effect on gold price as it climbed US$34 to US$1,395.50 per oz. That move carried the Global Gold index up 11 points to 415.96.

But investors didn’t only have gold on their minds. The base metal complex also continued its strong run with higher prices for copper, aluminum, nickel, tin, lead and zinc, and the Capped Metals & Mining index gained 80 points to finish at 1,327.40.

The big news of the period was the federal government blocking BHP Billiton’s attempted takeover of Potash Corp. of Saskatchewan. The government effectively deemed potash a strategic asset, and as such sided with the Saskatchewan government, which opposed the bid.

Taseko Mines’ share price was hit hard when the federal government said no to an open-pit mine at its Prosperity copper-gold project in central British Columbia. The government said a mine could jeopardize a nearby lake. The move overruled the provincial government’s support for the $815-million project. Local native groups have been strongly lined up against the mine. Taseko’s shares fell 28% to $4.65.

When the market is hot, as it is now for rare earth metals, sometimes all a company has to do is announce a drill program to get a lift. That was the case for Nuinsco Resources which climbed 31% to finish at 17¢. The company announced it had begun a drill program at its Prairie Lake rare earths project near Marathon, Ont., to increase the known tonnage and better understand the project’s mineralization.

Staying with hot commodities, word that Great Panther Silver had expanded high grade silver-gold-lead-zinc mineralization at its Topia mine in Mexico, had the company’s shares up 28% to $1.55. The results came from 9,000 metres of surface drilling and underground development. The company believes the drilling will add to its reserves and thus help it increase production by 20% per year by 2012.

The drill also helped the share prices of Goldstone Resources and Premier Gold Mines at their Hardrock gold project in northwestern Ontario. Goldstone holds a 30% carried interest in the project and saw its share price rise 30% to $1.01 on the back of highlight intercepts of 7.92 grams gold per tonne over 114.5 metres and 18.49 grams gold over 20.5 metres. As for Premier, its shares rose by 19% to $6.69.

TSX most active issues
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Eastern Platin	ELR	45877	1.93	1.70	1.85	-0.01
Uranium One	UUU	37062	5.14	4.19	5.00	+ 0.83
Denison Mines	DML	28288	2.84	2.16	2.49	+ 0.35
Farallon Res	FAN	26583	0.68	0.56	0.68	+ 0.11
Yamana Gold	YRI	24207	11.84	10.76	11.69	+ 0.47
Eldorado Gold	ELD	22308	19.41	17.30	18.86	+ 1.59
Andean Res	AND	21523	6.58	6.23	6.50	+ 0.19
KinrossGold	K	19537	19.20	17.64	18.82	+0.47
Lundin Mng	LUN	18672	6.92	6.17	6.75	+ 0.29
Taseko Mines	TKO	18112	6.72	4.36	4.65	-1.80

TSX greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Canarc Res	CCM	2289	0.19	0.15	0.19	+ 46.1
Candente Coppr	DNT	7068	1.03	0.67	0.89	+ 43.5
Uranerz Energy	URZ	974	3.36	2.26	3.20	+ 43.5
Timminco	TIM	5536	0.40	0.28	0.40	+ 37.9
Nuinsco Res	NWI	3248	0.17	0.13	0.17	+ 30.7
Rio Novo Gold	RN	8112	2.65	2.00	2.60	+ 30.6
Goldstone Res	GRC	6496	1.01	0.69	1.01	+ 29.4
Great Panther	GPR	6201	1.58	1.21	1.55	+ 28.1
Forsys Metals	FSY	2424	2.54	1.86	2.54	+ 27.6
First Majestic	FR	5845	10.47	7.38	9.96	+ 27.3
Taseko Mines	TKO	18112	6.72	4.36	4.65	-27.9
Diamond Fields	DFI	450	0.29	0.20	0.22	-18.5
Auryx Gold	AYX	4014	1.30	1.01	1.03	-18.2
TriAusMin	TOR	397	0.11	0.08	0.09	-18.1
EMC Metals	EMC	1245	0.11	0.09	0.10	-16.6
AvalonRareMt	AVL	5538	4.64	3.78	3.92	-13.8
Crescent Gold	CRA	33	0.16	0.14	0.14	-12.5
Malaga	MLG	4761	0.40	0.24	0.25	-10.7
Gryphon Gold	GGN	1072	0.28	0.22	0.25	-10.7
NGEx Res	NGQ	195	0.95	0.86	0.87	-10.3

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
First Quantum	FM	2989505	95.36	+ 6.05
Teck B	TCKB	12218489	49.71	+ 4.11
Teck A	TCKA	16005	49.80	+ 4.10
Inmet Mining	IMN	1449198	64.87	+ 3.89
Silver Wheaton	SLW	7994409	32.97	+ 3.65
Alamos Gold	AGI	3791300	18.99	+ 3.20
Labdr I-Ore Ro	LIF_U	415722	64.10	+ 2.90
Coeur d Alene	CDM	130237	23.50	+ 2.45
Seabridge Gold	SEA	171415	30.10	+ 2.39
Silvercorp Mtl	SVM	6249363	11.90	+ 2.36
PotashCpSask	POT	9678973	141.32	-6.18
Agrium	AGU	5965565	85.21	-5.01
Franco-Nevada	FNV	2327392	33.19	-1.99
Taseko Mines	TKO	18112193	4.65	-1.80
Centerra Gold	CG	7349003	18.87	-1.48
Newmont Mng	NMC	58409	61.54	-0.71
AvalonRareMt	AVL	5537952	3.92	-0.63
HoriznsGBear	HGD	6305218	9.60	-0.53
Auryx Gold	AYX	4013910	1.03	-0.23
Faircourt Gold	FGX	163082	10.28	-0.15