Barring disaster, Canada's key stock market indexes will post very healthy gains for 2009.

As of Wednesday's close, Toronto's S&P/TSX Composite Index was up 29.5 per cent since Jan. 1, and the TSX Venture Index, which mainly tracks junior mineral exploration stocks, is up more than 80 per cent this year.

Not all stocks have rallied, of course. Some prominent names -- including Manulife, Telus, Husky, Loblaw, Imperial, Ritchie, Fairfax and Precision -- have fared poorly in 2009.

Meanwhile, a lot of lesser-known smallcap or microcap stocks are still light-years below their previous peaks. Even in good times, it's tough for small-fry players to get attention, but in bad times, many become stock-market orphans.

Here's a quick look at several local smallcap and microcap stocks that got clobbered over the past 18 months, but could rebound sharply if economic growth picks up steam in 2010:

Liberty Mines (TSX: LBE) is a junior nickel producer that owns two small mines near Timmins, Ont. When nickel soared to $24 US a pound in mid-2007, Liberty's shares touched almost $5.

But the boom soon turned to bust. When nickel prices sank to $4 a year ago, Liberty had to shut its mines and lay off its entire staff.

Company CEO Gary Nash forged ahead, though, cutting a $30-million financing deal with a major Chinese nickel producer last May.

With nickel prices back to the $7.50 range, Liberty's mines are gearing up again. If nickel stays above $7, Nash figures Liberty can return to growth in 2010. Liberty's shares currently trade for 24.5 cents.