There was no rest for the sellers during Wednesday trading on the Canadian Markets with back door political moves creating government chaos in Ottawa. For the tale of the tape, the TSX Exchange dropped 0.37%, while the TSX Gold Index gave back 3.7% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, fell 2.63% with the declining issuers outpacing the advancers by a 452 to 294 margin on volume of 160 million shares traded.

The big news of the day came from Freeport-McMoRan Copper & Gold (NYSE:FCX), which announced a reduction in copper production and sales for 2009 along with a 50% cut in estimated capital expenditures for 2009. The major eliminated its stock dividend. Oooch. Freeport ended the day at $18.05 down $3.77 in New York trading.

Duran Ventures tagged 146.75 metres running 0.93% copper and 0.04% molybdenum, within a broader zone of 458.1 averaging 0.497% copper and

The Canadian Markets finished out the trading week in fine form with buyers jumping back into equities with a vengeance. For the tale of the tape, the TSX Exchange added 5.9%, while the TSX Gold Index tacked on 2.6% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, rallied 2.42% with the advancing issuers outpacing the decliners by a 478 to 353 margin on volume of 139 million shares traded.

Cameco (NYSE:CCJ) is temporarily suspending uranium-processing at its Port Hope plant in Ontario because of a dispute over supplies of hydrofluoric acid used in the production of nuclear fuel. The world’s largest uranium producer closed down C$0.24 at C$21.41.

Stornoway Diamond and partner Shear Minerals recovered 54 diamonds from a 2.95 kilogram sample from the Kahuna Breccia and 176 diamonds from a 29.9 kilogram sample of the Killiq kimberlite both on the Churchill diamond project in Nunavut. Stornoway

The Canadian markets rebounded strongly from its second biggest one day percentage drop in history as investors went bargain hunting for select issues during Tuesday trading. For the tale of the tape, the TSX Exchange rallied 7.2%, while the TSX Gold Index surged 14% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, added 0.98% with the declining issuers out pacing the advancers by a 442 to 394 margin on big volume of 259 million shares traded.

Andean Resources came out with a prefeasibility study for its Cerro Negro high-grade gold and silver project in Argentina. The study envisions production of 350,000 ounces of gold per year with cash costs ringing in at $198 per ounce generating an internal rate of return of 40%. The probable reserves stand at 7.2 million tonnes running 6.4 grams gold and 75 grams silver per tonne. Andean ended the day down C$0.02 at

Two steps backwards and one step forward is the name of the game as the Canadian Markets recovered from Monday’s drubbing by posting solid gains during Tuesday trading. For the tale of the tape, the TSX Exchange rallied 4.15%, while the TSX Gold Index fell 0.8% and the TSX Venture Exchange, Canada’s largest junior exploration bourse, tacked on 2.39% with the advancing issuers inching past the decliners by a 474 to 460 margin on volume of 122 million shares traded.