Toronto Stock Exchange october 3-6

The TSX Composite Index fell over the Thanksgiving holiday-shortened Oct. 3-6 trading period, dropping 96.5 points to 112,690.89 following the previous week’s rally.

The gold index followed the overall trend, shedding 13.12 points to 268.6; the price of gold was off 7% at US$560.75 per oz. by the end of the session. However, the yellow mellow had recovered partially, rising by 2.5%, and was selling for US$575.25 per oz. in London at presstime.

The diversified miners fared better than their cousins in the gold sector as nickel, lead and zinc all made gains, and copper began to recover from an early period dip. The group was up 3.95 points to 528.06 over the session.

Chariot Resources was the week’s most actively traded company, fuelled by news that its Mina Justa copper project in Peru returned intercepts of 44 metres grading 2.09% copper, including a shorter interval of 16 metres averaging 4.16% copper, and 22 metres of 1.93% copper, including 14 metres of 2.82% copper.

The company also announced it is in the process of a resource estimate update based on the 60,000 metres of drilling it has completed this year. The resource at Mina Justa had previously been estimated at 132.4 million tonnes averaging 0.74% copper with inferred resources pegged at 279.7 million tonnes averaging 0.57% copper.

Perth, Australia-based Paladin Resources was the second most actively traded miner on the week. The uranium pure play was no doubt bolstered by rising uranium prices. The metal’s spot price pushed up into the US$57-per-lb. range in early October trading. Paladin recently announced the commissioning of its Langer Heinrich uranium mine in Namibia, on schedule and on budget.

A busy week for Wallbridge Mining saw the Lively, Ont.-based miner become the biggest percentage gainer for the period. The company was up nearly 16% on the session to 25 after announcing a financing of $2.1 million for its 2007 work program at the Wallbridge/Lonmin Sudbury, Ont., joint-venture properties.

Wallbridge also announced the completion of a deal to acquire Xstrata Nickel’s 36% interest in the Broken Hammer Resource on the Wisner property, as well as the Parkin Offset property. The deal gives Wallbridge a 98.5% interest in both properties.

Broken Hammer has an inferred resource of 251,000 tonnes grading 1% copper and 0.1% nickel. Parkin Offset has an indicated resource of 264,000 tonnes grading 0.7% copper and 0.65% nickel.

Financial woes at Denver, Colo.-based Queenstake Resources’ Jerritt Canyon operation sent the company’s stock down nearly 18% to 25 for the period. On Oct. 4, the company said it would have to cut production at the mine in order to reduce costs.

Production from higher-cost portions of Jerritt Canyon’s three underground mines will be deferred, bringing production for the year down to 160,000 oz. gold at a cash cost of roughly US$420 per oz. in the fourth quarter.

Jerritt has a measured and indicated resource of 8.8 million tonnes containing 2.1 million oz. gold, including roughly 878,000 oz. in reserves.

TSX greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Wallbridge Mng	WM	196	0.255	0.20	0.255	+15.9
Almaden Mnls	AMM	187	2.89	2.51	2.82	+13.7
Armistice Res	AZ	137	0.41	0.335	0.375	+13.6
Mega Uranium	MGA	3191	4.43	3.68	4.33	+13.6
Fronteer Dev G	FRG	1869	6.70	5.70	6.70	+13.5
South Am Gld&C	SAG	1374	0.05	0.04	0.045	+12.5
Aquiline Res	AQI	1009	5.05	4.34	4.92	+11.5
Augusta Res	AZC	2365	2.43	2.00	2.43	+10.4
Kirkland Lk Gd	KGI	358	8.69	7.50	8.49	+9.8
Birim Goldfl	BGI	134	0.42	0.365	0.42	+7.6
Northgate wtA	NGX.WT.A	711	0.63	0.31	0.50	-26.4
Northgate M wt	NGX.WT	850	0.60	0.40	0.50	-24.2
Nevsun Res Wt	NSU.WT	20	1.26	1.01	1.15	-23.3
Goldstake Exp	GXP	301	0.14	0.095	0.105	-19.2
Queenstake Rs	QRL	8522	0.30	0.255	0.255	-17.7
Rio Narcea wt	RNG.WT	64	0.25	0.21	0.24	-17.2
Pine Valley Mg	PVM	100	0.51	0.41	0.44	-16.9
New Gold wt	NGD.WT	11	1.35	1.11	1.30	-16.1
Campbell Res	CCH	12633	0.10	0.07	0.08	-15.7
Glencairn G wt	GGG.WT	259	0.275	0.20	0.23	-14.8

TSX greatest value change

		VOLUME	CLOSE	CHANGE
Potash Cp Sask	POT	1527131	121.88	+6.34
First Quantum	FM	1863986	57.26	+2.36
Dundee Bancrp	DBC.A	131186	50.34	+1.85
Teck Comin B	TCK.B	5831891	71.00	+1.50
Fronteer Dev G	FRG	1869195	6.70	+0.80
Russell Metals	RUS	2302911	27.11	+0.76
Kirkland Lk Gd	KGI	358478	8.49	+0.76
HudBay Minls	HBM	5823306	14.64	+0.67
Mega Uranium	MGA	3191227	4.33	+0.52
Aquiline Res	AQI	1009047	4.92	+0.51
Glamis Gold	GLG	6801675	40.70	-2.68
ISh COMEX G Tr	IGT	15985	63.87	-2.20
Agnico-Eag wt*	AEM.WT.U	23811	13.00	-2.03
Barrick Gold	ABX	13699665	32.80	-1.80
Agnico-Eagle	AEM	4704845	33.47	-1.67
Fording C C T	FDG.UN	1722984	27.11	-1.61
Goldcorp	G	22214188	24.46	-1.36
Labdr I-Ore Ro	LIF.UN	269457	25.46	-1.34
Newmont Mng	NMC	694568	46.87	-1.25
Alcan	AL	6848379	44.34	-1.06

TSX most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Chariot Res	CHD	42081	0.65	0.495	0.52	+0.01
Paladin Res	PDN	26572	4.33	3.91	4.22	+0.22
Bema Gold	BGO	22783	4.95	4.49	4.69	-0.20
Goldcorp	G	22214	25.20	22.97	24.46	-1.36
Kinross Gold	K	19160	13.72	12.26	13.13	-0.85
Equinox Minls	EQN	15874	1.61	1.39	1.51	-0.05
Chariot Res wt	CHD.WT	14308	0.30	0.155	0.18	-0.01
Barrick Gold	ABX	13700	33.85	31.15	32.80	-1.80
Yamana Gold	YRI	13498	10.05	8.81	9.54	-0.72
Campbell Res	CCH	12633	0.10	0.07	0.08	-0.015