Toronto Stock Exchange December 5-11

The TSX was up 29.51 points to 12,878.18 over the Dec. 5-11 trading session, with the financial sector, aided by the Bank of Canada’s decision to leave its benchmark interest rate unchanged at 4.25%, leading the charge.

With a fall in the price of gold, the gold index trended downward; the gold miners were off 12.59 points to 333.11 as gold retreated US$19.25 to US$626.75.

The diversified miners fared better, if only slightly, rising just 14.28 points to 660.42, as advances in the prices of nickel, lead and palladium offset minor pullbacks in silver, copper, aluminum and zinc.

Gold miners were the most actively traded companies on the exchange, as Campbell Resources — with gold and gold copper properties in Quebec — led all miners with over 26 million shares traded. However, the Montreal-based company was also the largest loser by percentage, as its shares fell roughly 19% to 10 on no news.

Bema Gold and Goldcorp rounded out the top three with roughly 24 million and 21 million shares traded, respectively. Bema was off 14 at $6.16, while Goldcorp fell $1.76 to $33.79.

Golden Queen Mining was the largest gainer by percentage for the period. The Vancouver-based company is proposing to develop a gold and silver open-pit mine at its Soledad Mountain property in southern California. Its shares gained nearly 30%, closing the trading period at $1.05.

Tenke Mining climbed nearly 18% to $8.10 over the session after announcing that Phelps Dodge had agreed to fund the first phase of construction at the massive Tenke Fungurume copper and cobalt project in the Democratic Republic of the Congo. Phelps will be the operator with just over 57% of the project, while Tenke holds close to 25%. The project is slated to begin production in late 2008 or early 2009, churning out roughly 250 million lbs. copper and 18 million lbs. cobalt over the first 10 years.

Globex Mining’s Nov. 28 announcement regarding the Fabie Bay and Magusi River copper, zinc, gold, silver deposits continued to resonate well with the markets. The company’s shares gained 16% over the period, closing at $7.25. Globex recently reported that metallurgical testing of drill core from Fabie Bay yielded 93% copper recoveries in a plus 24% copper concentrate. A power line for the project is also nearly complete. Globex has a 2% net metal royalty and 10% net profit royalty in the property, which is operated by First Metals. First Metals’ shares were flat at $1.03 on the week.

Shares of Vancouver-based Endeavour Silver continued to slide due to delays at its Guanacevi Mines project in Durango state, Mexico. The company lost over 14% during the session, closing at $4.31 on news that it was terminating the local mining contractor that had been in charge of construction at the project.

TSX greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
HMZ Metals wt	HMZ.WT	642	0.025	0.015	0.015	+50.0
Frontera Cp wt	FCC.WT	637	2.50	1.85	2.45	+29.6
Golden Queen	GQM	584	1.08	0.80	1.05	+29.6
Nevsun Res Wt	NSU.WT	128	1.10	0.85	1.10	+22.2
Capital Gold	CGC	367	0.43	0.36	0.43	+19.4
Blue Pearl wt	BLE.WT	180	9.12	7.75	9.05	+18.9
Tenke Mining	TNK	2480	18.10	15.25	18.10	+17.9
Globex Mng	GMX	123	7.30	6.49	7.25	+16.0
Blue Pearl Mng	BLE	4850	9.87	8.45	9.77	+15.4
Eastern Pla wt	ELR.WT	15	0.75	0.70	0.75	+15.3
Ascendant C wt	ACX.WT	89	0.185	0.15	0.15	-25.0
Golden Str wtA	GSC.WT.A	79	0.26	0.21	0.225	-19.6
Campbell Res	CCH	26464	0.13	0.10	0.105	-19.2
Armistice Res	AZ	103	0.63	0.50	0.51	-19.0
Global Alumina	GLA.U	898	1.07	0.85	0.88	-16.1
Freegold Vent	ITF	368	0.58	0.46	0.48	-15.7
Corriente Res	CTQ	2057	5.45	4.38	4.52	-15.6
Ascendant Copp	ACX	26	0.73	0.73	0.73	-15.1
Endeavr Silver	EDR	955	5.09	4.31	4.32	-14.6
Moydow Mns Int	MOY	86	0.20	0.18	0.18	-14.2

TSX greatest value change

		VOLUME	CLOSE	CHANGE
Labdr I-Ore Ro	LIF.UN	455713	27.72	+3.10
Fording C C T	FDG.UN	2979816	26.78	+2.99
Tenke Mining	TNK	2480236	18.10	+2.75
First Quantum	FM	2691578	66.36	+2.16
Denison Mn wt	DEN.WT	13950	17.70	+1.98
Major Drilling	MDI	279381	25.40	+1.96
Denison Mines	DEN	984624	31.25	+1.90
Blue Pearl wt	BLE.WT	179860	9.05	+1.44
Silvercorp Mtl	SVM	1134074	18.39	+1.39
Blue Pearl Mng	BLE	4850174	9.77	+1.31
Potash Cp Sask	POT	1149523	161.00	-3.01
Agnico-Eagle	AEM	5171011	48.71	-2.65
Goldcorp	G	21152981	33.79	-1.76
Agnico-Eag wt*	AEM.WT.U	23304	24.80	-1.71
ISh COMEX G Tr	IGT	25580	71.95	-1.36
Meridian Gold	MNG	1390491	34.18	-1.07
HudBay Minls	HBM	10109263	21.44	-1.06
Guyana Gldflds	GUY	573397	10.52	-0.99
Barrick Gold	ABX	9640565	34.91	-0.98
Vista Gold	VGZ	87790	10.35	-0.85

TSX most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Campbell Res	CCH	26464	0.13	0.10	0.105	-0.025
Bema Gold	BGO	24641	6.33	6.04	6.16	-0.14
Goldcorp	G	21153	35.85	33.33	33.79	-1.76
Eastern Platin	ELR	21003	1.44	1.22	1.28	-0.08
Kinross Gold	K	20685	14.67	13.94	14.29	-0.21
Breakwater Res	BWR	19166	2.05	1.87	1.95	-0.06
Eldorado Gold	ELD	16833	7.01	6.53	6.62	-0.35
Paladin Res	PDN	15547	6.84	6.10	6.40	-0.13
Coalcorp Mng	CCJ	11370	0.52	0.48	0.50	0.00
Yamana Gold	YRI	11212	15.70	14.39	14.80	-0.68