TORONTO STOCK EXCHANGE -November 15-19

With investor mood dampened by concerns over China’s tightening fiscal policy and Europe’s woes with Ireland and Iceland, the Toronto Stock Exchange closed the Nov. 15-19 week higher, led by the financial sector.

The TSX composite index rose 206.09 points, or 1.6%, to 12,956.33, as banks advanced on prospects of earnings growth. Commodity prices softened as China ordered lenders to lock up more of their money with the Central Bank, stepping up efforts to pull excess cash out of the economy to combat inflation, which hit a 2-year high in October. Investors are concerned China’s move to slow inflation will stifle global economic growth.

While the spot price for copper declined 9¢ to finish at US$3.82 per lb., the Capped Metals & Mining index tacked on 32.84 points to close up 2.6% at 1,312.86. Gold was off US$13.20 an oz., or 1%, ending at US$1,352.30. The Global Gold index followed suite, slipping 0.8% to 412.64 points.

Shares in Ventana Gold rocketed to $13.59, up $3.43, after the EBX Group, owned by Brazilian billionaire Eike Batista, made an unsolicited $1.2-billion cash offer worth $12.63 per share. Ventana is a Vancouverbased exploration company with mineral rights to 46 sq. km of ground in northeastern Colombia. The company’s flagship La Bodega gold-silver discovery hosts 3.5 million oz. gold, 19.2 million oz. silver and 85 million lbs. copper, based on an inferred resource of 27.8 million tonnes grading 3.9 grams gold, 21.5 grams silver and 0.14% copper. EBX already owns 20% of Ventana.

Vancouver-based Western Coal jumped $3.49 to $10.76 on news of a potential merger with Walter Energy, a Florida-based coal producer. The proposal, subject to a two-week due diligence period and a definitive agreement, calls for Western shareholders to receive a mixture of cash and Walter shares valued at $11.50 per Western share.

Grande Cache Coal, an Alberta producer of metallurgical coal for the steel industry, closed up $1.11 at $9.08, while Cline Mining, a junior that is preparing to restart the New Elk coal mine in Colorado, tacked on 67¢ at $3.14. Cline recently closed a $57.6-million equity offering priced at $1.95 per share.

Farallon Mining, one of the most active stocks, jumped 13¢ to 78¢, after agreeing to a friendly $409-million takeover bid by Belgium-based Nyrstar. The 80¢-per-share cash offer represents a 32% premium to a 20-day average trading price.

Anatolia Minerals Development was down 86¢ at $7.44 after warning the market its scheduled first gold pour from the Copler gold mine in Turkey may be postponed until early in the New Year due to unforeseen delays in building critical path items. In order to ensure the company has sufficient liquidity on hand, it entered into a $25-million, three-year credit facility with Standard Bank.

TSX most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Farallon Res FAN 104239 0.79 0.78 0.78 + 0.13
Western Coal WTN 59995 11.05 6.79 10.76 + 3.49
Ventana Gold VEN 31805 14.13 9.93 13.59 + 3.43
Eastern Platin ELR 30491 1.95 1.66 1.80 -0.08
Uranium One UUU 26684 4.98 4.47 4.78 -0.01
Cline Mng CMK 25992 3.17 2.19 3.14 + 0.67
Grande Cache C GCE 17633 9.50 7.38 9.08 + 1.11
KinrossGold K 16031 18.58 17.66 18.23 -0.23
Lundin Mng LUN 15987 6.83 6.22 6.75 + 0.07
Equinox Minls EQN 15822 5.92 5.32 5.89 + 0.09
TSX greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Revett Mnls RVM 2126 4.25 0.60 4.14 + 590.0
TriAusMin TOR 2198 0.16 0.09 0.15 + 66.6
Polo Res POL 19 0.11 0.10 0.11 + 57.1
Mawson Res MAW 1241 1.56 0.95 1.56 + 48.5
Western Coal WTN 59995 11.05 6.79 10.76 + 48.0
Starcore Int V SAM 1466 0.11 0.09 0.10 + 42.8
Ventana Gold VEN 31805 14.13 9.93 13.59 + 33.7
Candente Coppr DNT 2736 0.98 0.76 0.98 + 30.6
Cline Mng CMK 25992 3.17 2.19 3.14 + 27.1
Crosshair E&Mg CXX 8770 0.39 0.24 0.34 + 25.9
Khan Res KRI 1984 0.45 0.35 0.41 -19.6
Africo Res ARL 107 0.92 0.83 0.83 -16.1
Alexis Minls AMC 12785 0.21 0.17 0.17 -15.0
Rockgate Cap RGT 1240 1.39 1.10 1.20 -14.2
Bannerman Res BAN 1765 0.67 0.55 0.58 -13.4
South Am Silvr SAC 3160 2.05 1.53 1.65 -11.7
PC Gold PKL 1013 0.77 0.66 0.68 -11.6
Powertech Uran PWE 474 0.45 0.36 0.38 -11.6
Revolution Res RV 639 0.44 0.38 0.38 -11.6
Katanga Mng KAT 2994 1.45 1.18 1.25 -10.7
TSX greatest value change
WEEK
VOLUME CLOSE CHANGE
Revett Mnls RVM 2126047 4.14 + 3.54
Western Coal WTN 59995409 10.76 + 3.49
Ventana Gold VEN 31804735 13.59 + 3.43
Labdr I-Ore Ro LIF_U 235670 64.50 + 3.23
PotashCpSask POT 4803669 142.83 + 1.46
Teck B TCKB 12864660 50.93 + 1.32
Teck A TCKA 10559 51.11 + 1.31
Franco-Nevada FNV 1576314 33.75 + 1.25
Labdr Iron Mns LIM 1037718 8.07 + 1.21
First Quantum FM 1989790 91.10 + 1.19
Detour Gold DGC 2004486 29.86 -2.62
Centerra Gold CG 3546277 16.50 -1.13
Newmont Mng NMC 14614 61.28 -0.91
Royal Gold RGL 10855 51.50 -0.90
Agnico-Eagle AEM 2622412 79.66 -0.89
Europn Goldfld EGU 2315937 14.13 -0.87
Anatolia Minls ANO 1811019 7.44 -0.86
Tahoe Res THO 926106 10.17 -0.76
Marklnd AGF PM MPM 13000 14.26 -0.75
Allied Nevada ANV 1064779 26.99 -0.66
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