TSX Venture Exchange May 23-29

Unsettled trading saw the S&P-TSX Venture Composite Index bounce off its recent drop and recover 92.9 points over the May 23-29 session to close at 2,863.63. Average daily trading volumes dried up dramatically over the period at just 56 million shares.

Fewer companies cracked new annual highs over the week, with just 23 juniors managing to rally to new 52-week peaks while 19 explorers slid to new yearly lows.

Once again, top volume trader for the week was Yukon Zinc with over 21 million shares. The stock gained a modest three pennies to close at 31 following its recent precipitous drop. Recent feasibility study results for its Wolverine zinc-copper-lead deposit, in the Yukon, have indicated relatively high cost estimates coupled with a royalty structure on silver that is viewed as quite lofty.

Kazakhstan-focused uranium producer UrAsia Energy grabbed second place in trading volume with 7.5 million shares changing hands, tacking on 27 to close at $2.95. Anticipated production from its Akdala mine this year is pegged at 2.6 million lbs. U3O8. The company recently secured a couple of uranium supply contracts.

ECU Silver Mining closed up 12 at $3.07 per share, posting volume of 6 million on the session. Further underground sampling at its Santa Juana mine, in Mexico’s Durango state, delivered high-grade silver plus gold values.

Shares of Quebec-focused junior Strateco Resources gained 11 to close at $1.13 on 5 million shares. Drilling at the company’s Matoush uranium project recently returned uranium values of up to 2% U3O8 over 5.2 metres. The company is also selling off a couple of its gold projects to a subsidiary and plans to spin out shares in a new company.

Volcanic Metals Exploration posted a 67% gain on the week, trading up 40 at $1.00 on volume of 2.9 million shares. It recently acquired a portfolio of several uranium projects in western Colorado, some of which contains historic resources.

On trading volume of 1.6 million shares, Foran Mining gained 59% to close up 8.5 at 23. The company reached a settlement in disputes with its former chairman and a property joint-venture partner.

Aurelian Resources rallied $2.26 to round out the week at $7.15 per share on volume of over 1.3 million. It recently closed a $20-million financing and announced mobilization of a second drill rig to its Fruta del Norte epithermal gold-silver project in Ecuador.

Shares in Sienna Gold gained 88%, or 44, to close at 94 on volume of almost 1.1 million. Additional drilling on the company’s Igor gold project in northern Peru cut up to 96 metres averaging 2.6 grams gold per tonne and 65.8 grams silver per tonne.

With a large, second-phase drill program under way on its Constancia copper-gold project in Peru, shares of Norsemont Mining dropped 38 to close at $2.29 apiece on volume of 240,000.

TSX-V greatest percentage change

VOLUME(000S) HIGH LOW CLOSE CHANGE
Sienna Gold SGP 1083 0.95 0.45 0.94 +88.0
Emerald Isle EIR 90 0.55 0.305 0.54 +77.0
Volcanic Mtl E VME 2905 1.06 0.57 1.00 +66.6
Stralak Res SRK 213 0.46 0.25 0.40 +60.0
Foran Mng FOM 1569 0.24 0.19 0.23 58.6
Aurelian Res ARU 1336 7.50 4.51 7.15 +46.2
Southern Silvr SSV 3151 1.33 0.75 1.00 +42.8
Coastport Cap CPP 1023 1.45 1.25 1.43 +36.1
Tanqueray Res TQY 78 0.27 0.17 0.27 +35.0
Bravo Vent BVG 1156 0.68 0.47 0.66 +34.6
Big Red Diamnd DIA 234 0.145 0.08 0.09 -28.0
Intl Arimex R IEA 705 0.18 0.12 0.13 -27.7
Fancamp Expl FNC 1072 0.22 0.15 0.19 -26.9
Nova Uranium NUC 721 3.00 1.75 1.80 -25.6
Newfld Goldbar NGB 53 0.06 0.055 0.06 -25.0
Luxor Ind LRL 16 0.155 0.15 0.15 -25.0
Golden Oasis GOT 25 0.52 0.455 0.455 -24.1
Intl Kirkland IKI 308 0.135 0.10 0.10 -23.0
Orex Expl OX 455 0.27 0.20 0.20 -23.0
Dynamite Res DNR 42 0.30 0.27 0.27 -22.8

TSX-V greatest value change

VOLUME CLOSE CHANGE
Aurelian Res ARU 1336233 7.15 +2.26
Seabridge Gold SEA 92149 11.20 +1.45
Mexgold Res MGR 331635 6.50 +1.00
Northern Dyn M NDM 763383 8.95 +0.92
Altius Mnrls ALS 146018 6.80 +0.65
Laramide Res LAM 1030219 6.05 +0.60
Leroy Vent LRV 320650 2.22 +0.47
Polymet Mng POM 387771 4.40 +0.45
Sienna Gold SGP 1083250 0.94 +0.44
Mishibishu Gol MGO 222691 3.42 +0.43
Nova Uranium NUC 720992 1.80 -0.62
Pac Booker Min BKM 86978 5.10 -0.50
Golden Peaks GL 329366 2.60 -0.46
Coral Gold CGR 16645 3.56 -0.44
Thunder Sword THU 20100 1.51 -0.41
Norsemont Mng NOM 238461 2.29 -0.38
Peregrine Diam PGD 119927 3.49 -0.36
San Telmo Res STA 30686 1.40 -0.30
TLC Vent TLV 44467 1.14 -0.26
Marathon PGM MAR 69000 4.25 -0.25

TSX-V most active issues

VOLUME(000S) HIGH LOW CLOSE CHANGE
Yukon Zinc YZC 21330 0.36 0.29 0.31 +0.03
UrAsia Energy UUU 7503 3.09 2.56 2.95 +0.27
ECU Silver Mng ECU 5996 3.23 2.84 3.07 +0.12
Strateco Res RSC 5030 1.22 0.88 1.13 +0.11
Plexmar Res PLE 4019 0.385 0.32 0.335 -0.005
Cons Gold Win CGW 3849 0.185 0.15 0.17 +0.005
Solitaire Mnls SLT 3273 0.24 0.18 0.24 +0.03
North Am Tung NTC 3271 1.06 0.92 1.03 -0.02
Southern Silvr SSV 3151 1.33 0.75 1.00 +0.30
Tournigan Gold TVC 3092 2.49 1.90 2.40 +0.15
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