For the tale of the tape, the TSX Exchange added 1.03%, while the TSX Gold Index fell 4.1% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, lost 4.73% with the declining issuers out pacing the advancers by a 650 to 266 margin on volume of 190 million shares traded.

Teck Cominco (NYSE:TCK) tabled earnings of C$432 million, or C$0.97 per share in the third quarter of 2008, compared with C$495 million, or C$1.16 per share tallied in the same period a year earlier. The bottom line was hit by lower copper and zinc prices with higher coal operating profits limiting the impact. Teck ended the day down C$1.78 at C$12.54.

Potash Corp. of Saskatchewan (NYSE:POT) saw its third quarter earnings increase five fold to C$1.24 billion, or C$3.93 per share. To put things in perspective, that exceeded the C$1.1-billion earned in the entire 2007. Potash ended the day up C$3.07 at C$85.99.

Shares of one time high-flyer Noront Resources (CVE:NOT) continued to free fall, dropping C$0.28 to close at C$0.66. The company is in the midst of a proxy fight and just tabled a positive scoping study for development of its Eagle One copper-nickel-platinum deposit in Ontario.

Augusta Resource (AMEX:AZC) tabled a new resource calculation and better metallurgy results from its Rosemont copper project in Southern Arizona. The recovery for molybdenum came in at 70-75%, silver recovery was 80-82% and copper recoveries tallied 84-86%. Augusta closed down C$0.06 at C$1.45.

New Gold produced 68,801 ounces of gold at total cash costs of $566 per ounce in the third quarter. Silver output hit 282,055 ounces and copper production was 2.37 million pounds. New Gold ended the day down C$0.45 at C$1.28.

Things could get awfully dicey for the junior exploration stocks with tax loss season drawing ever closer in a weak liquidity environment. Keep your hard hats on and we will see what Friday trading has in store.

Source: Resource Stock Roundup: Friday, October 24th, 2008