News

September 06, 2008

That Was The Week That Was … In Canada

By Our Canadian Correspondent

Minews. Now over to our Canadian Correspondent to see how the Canadian Markets performed over the past week.

CC. It was a downright ugly holiday-shortened trading week as investors elected to start off the trading month of September by selling equities across the board. The commodity stocks were amongst the hardest hit. Once all the trading was done, the TSX Ventures Exchange, home to more junior exploration companies than anywhere else in the world, had fallen 8.67 per cent, while the TSX Gold Index had plunged an eye popping 13.1 per cent.

Shareholders in Waratah Coal felt the impact of government decision-making after the Australian federal Minister for Environment, acting under the auspices of the Environment Protection and Biodiversity Act, rejected Waratah’s proposal to establish a rail line and coal port in the Shoalwater Bay military training area to service the company’s Galilee basin project in Queensland. Chairman Nick Mather, who also runs Solomon Gold, isn’t having much luck at the moment. The news sent investors...