Toronto Stock Exchange – Oct. 27-Nov. 2

The S&P/TSX composite index fell roughly 400 points for the Oct. 27-Nov. 2 reporting period as investors fretted over the possibility that American consumers may not get back to their spending ways for a long while.

The fall came despite a rally on Oct. 29 that was fuelled by news that the U. S. had officially come out of the recession. Despite the good news, however, many analysts are predicting anemic growth for the foreseeable future.

Investor trepidation extended to commodities as well, with copper, aluminum, nickel, tin, zinc and lead prices all moving lower for the period. That had the expected effect on the Capped Metals and Mining index, as it fell roughly 70 points to 889.

Despite some volatility, the price of gold did manage to finish higher than it began the period, up roughly US$10 to US$1,062 per oz. The move in the underlying commodity, however, was not mirrored by the Global Gold index as it was off roughly 8 points to 318.88.

A disappointing third quarter for usual market darling Agnico-Eagle Mines highlighted the sector’s troubles. Despite increased production and high gold prices, Agnico reported a net loss of US$17 million for the quarter. Higher production costs as a result of delays in the production schedule at three of its newest mines were blamed for the loss.

A strong intersection of 17 metres grading 2.83 grams gold was enough to start a buzz around Carpathian Gold. The results came from the company’s Riacho Dos Machados gold project in Brazil. Drilling is being carried out with an eye towards upgrading the open-pit inferred resource to the measured and indicated categories, as well as extending the strike length. The data will be used in a feasibility study Carpathian says will be done by the first quarter of 2010. Carpathian shares were up 25% to 35¢ for the period.

Other big gainers were Marathon PGM, up 22% to $1.10 after announcing increased reserves at its Marathon platinum group metals and copper project in Ontario; Crescent Gold, up 19% to 25¢ after announcing the first gold pour at the Granny Smith mill in Australia; and Keegan Resources, up 18.5% to $5.30 on news of positive metallurgical test results from its Esaase gold deposit in Ghana.

On the down side, Coalcorp Mining has been having a rough ride lately and its share price has told the story. The stock was down 35% during the period to 17¢ per share. The company is in a legal dispute with a customer who refuses to accept delivery of a coal shipment, and it was also recently issued a management cease-trade order from the Ontario Securities Commission for failing to file financial reports.

TSX most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Lundin Mng	LUN	43807	4.57	4.11	4.25	-0.20
Tiomin Res	TIO	39848	0.04	0.03	0.03	-0.01
Centamin Egypt	CEE	36801	2.45	2.11	2.20	+ 0.06
Yamana Gold	YRI	33323	12.13	11.05	11.65	-0.38
Kinross Gold	K	27661	21.20	19.25	19.76	-1.89
Teck B	TCKB	26851	33.99	30.20	31.14	-2.92
Barrick Gold	ABX	22868	39.97	37.04	39.39	+ 0.79
New Gold	NGD	22117	4.23	3.70	4.00	-0.07
Breakwater Res	BWR	22044	0.41	0.34	0.38	-0.03
Mercator Mnls	ML	20841	2.81	2.28	2.34	-0.25

TSX greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Richview Res	RVR	605	0.04	0.03	0.04	+ 33.3
Carpathian Gld	CPN	2242	0.36	0.28	0.35	+ 25.0
Marathon PGM	MAR	969	1.28	0.94	1.10	+ 22.2
Firstgold	FGD	615	0.06	0.05	0.06	+ 20.0
Crescent Gold	CRA	25	0.25	0.19	0.25	+ 19.0
Keegan Res	KGN	762	5.38	4.50	5.30	+ 18.5
Delta Uran	DUR	883	0.09	0.06	0.07	+ 16.6
South Am Silvr	SAC	217	0.51	0.43	0.51	+ 15.9
Crowflight Mnl	CML	16960	0.24	0.21	0.23	+ 15.0
Malaga	MLG	252	0.17	0.12	0.16	+ 14.2
Coalcorp Mng	CCJ	3277	0.26	0.16	0.17	-34.6
Arehada Mining	AHD	37	0.15	0.12	0.12	-33.3
Fletcher Nicke	FL	268	0.08	0.05	0.05	-28.5
Tiomin Res	TIO	39848	0.04	0.03	0.03	-25.0
Crew Gold	CRU	1667	0.31	0.17	0.24	-22.5
Moly Mines	MOL	10527	1.10	0.82	0.83	-22.4
Augusta Res	AZC	695	3.29	2.52	2.61	-20.9
Gryphon Gold	GGN	539	0.26	0.22	0.23	-20.6
Troy Res	TRY	321	2.55	1.95	2.10	-20.4
Contl Precious	CZQ	3623	0.59	0.48	0.48	-20.0

TSX greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
IShCOMEXGTr	IGT	16376	111.86	+ 2.77
Central Gold-T	GTU_U	59995	44.64	+ 0.94
Keegan Res	KGN	761912	5.30	+ 0.83
Barrick Gold	ABX	22868323	39.39	+ 0.79
Red Back Mng	RBI	10216333	13.75	+ 0.55
Newmont Mng	NMC	153818	46.90	+ 0.48
Europn Goldfld	EGU	4874190	6.38	+ 0.42
Lake Shore Gld	LSG	10451531	3.50	+ 0.40
Richmont Mines	RIC	136824	3.41	+ 0.40
Gammon Gold	GAM	3147505	9.16	+ 0.26
Agnico-Eagle	AEM	10133779	58.70	-11.20
Potash Cp Sask	POT	5593944	99.50	-5.36
Inmet Mining	IMN	3602363	57.90	-5.00
First Quantum	FM	2999870	72.91	-4.79
Teck A	TCKA	32678	31.46	-3.03
Teck B	TCKB	26851487	31.14	-2.92
Cameco Corp	CCO	6765441	29.84	-2.16
Kinross Gold	K	27661384	19.76	-1.89
Labdr I-Ore Ro	LIF_U	286730	38.50	-1.87
Coeur d Alene	CDM	138400	21.99	-1.74