Demonstrating some resilience to the recent Asian stock market flu, the S&P-TSX Venture Composite Index gained back more than half the ground lost the previous week over the March 6-12 trading session. The index rallied 6% to close up 179.69 points at 3,135.08 for the period, with average daily trading volume relaxing somewhat at 87.6 million shares.
The junior market showed a bullish slant with 48 junior miners touching new 52-week highs versus 32 companies that dropped to yearly lows on the trading session.
Bard Ventures continued to garner market attention following a couple of recent molybdenum-mineralized drill intercepts from its Lone Pine project near Houston, B.C. The company traded 30.8 million shares over the week, but shed 1.5 to close at 32.5 per share. Assay results from five remaining holes are pending.
International Arimex Resources saw almost 20 million shares change hands, gaining 7 to close the week at 24.5 per share. Market speculation rests on pending results from an initial 3-hole drill program on the company’s Key Lake uranium project in the Athabasca basin under option from CanAlaska Uranium.
Uranium market darling UrAsia Energy traded 15.4 million shares on the week with a gain of 50 to close at $7.15 per share. With U3O8 production coming from operations in Kazakhstan, it has become the takeover target of SXR Uranium One under a friendly deal that would see 0.45 of an SXR share issued for each UrAsia share.
Searchgold Resources came surging back following a recent slip to close up 11 at 37 per share on trading volume of 10.5 million shares. Investors speculated on upcoming results from a recently completed 15-hole drill program at the company’s Bakoudou gold project in Gabon, West Africa.
Junior Ontario nickel producer Liberty Mines saw its shares rally 30% to close up 75 at $3.25 apiece on trading volume of 2.6 million shares. Underground drilling at its Redstone mine, near Timmins, Ont., continues to return high-grade nickel values. The company is also awaiting drill assays from its Hart project, 6.5 km east, where massive sulphides were encountered.
Shares of Monster Copper soared 58% to close at $1.12 apiece following a friendly takeover offer by Mega Uranium. The deal sees Mega offering one share and half-warrant for every six Monster shares.
Yamiri Gold and Energy dropped 25% on trading volume of 1.5 million shares following the announcement of a ban on open-pit mining in La Rioja province, in Argentina. The company is exploring its Famatina project through a joint venture with Barrick Gold in La Rioja. A local referendum on the issue has been proposed for late July.
TTM Resources continued to capture market interest based on its recent drill intercept of 198 metres grading 0.132% molybdenum from the Chu project, near Vanderhoof, in northern British Columbia. The company traded almost 9.2 million shares on the session to close up 14 at 66 per share.
TSX-V most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Bard Vent | CBS | 30838 | 0.39 | 0.25 | 0.325 | -0.015 |
| Intl Arimex R | IEA | 19684 | 0.305 | 0.175 | 0.245 | +0.07 |
| Pac Comox | PCM | 17578 | 0.125 | 0.085 | 0.09 | 0.00 |
| UrAsia Energy | UUU | 15369 | 7.49 | 6.76 | 7.15 | +0.50 |
| Searchgold Res | RSG | 10560 | 0.375 | 0.27 | 0.37 | +0.11 |
| Gravity West | GRW | 10323 | 0.185 | 0.13 | 0.17 | +0.04 |
| Appalaches Res | APP | 9419 | 0.225 | 0.135 | 0.195 | +0.06 |
| TTM Res | TTQ | 9179 | 0.70 | 0.52 | 0.66 | +0.14 |
| Crowflight Mnl | CML | 9170 | 0.67 | 0.56 | 0.62 | +0.06 |
| Global Uran | GU | 7205 | 0.66 | 0.42 | 0.45 | +0.02 |
TSX-V greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Cons AGX Res | CSX | 24 | 2.60 | 0.40 | 0.70 | +337.5 |
| Amex Expl | AMX | 96 | 0.49 | 0.26 | 0.49 | +88.4 |
| Monster Copper | MNS | 6709 | 1.20 | 0.71 | 1.12 | +57.7 |
| Amarillo Gold | AGC | 810 | 1.40 | 0.92 | 1.30 | +52.9 |
| Royal Roads | RRO | 373 | 0.68 | 0.50 | 0.65 | +51.1 |
| Castillian Res | CT | 1461 | 0.95 | 0.59 | 0.86 | +50.8 |
| Dios Expl | DOS | 1239 | 1.03 | 0.68 | 0.99 | +45.5 |
| Torch Rvr Res | TCR | 1087 | 0.29 | 0.20 | 0.29 | +45.0 |
| Appalaches Res | APP | 9419 | 0.225 | 0.135 | 0.195 | +44.4 |
| Tenajon Res | TJS | 5654 | 0.38 | 0.23 | 0.335 | +42.5 |
| Tiger Intl | TGR | 60 | 0.90 | 0.51 | 0.62 | -32.6 |
| Golden Arch | GAI | 321 | 0.095 | 0.065 | 0.065 | -27.7 |
| Yamiri Gold &E | YGI | 1478 | 0.43 | 0.25 | 0.30 | -25.0 |
| Tom Expl | TUM | 324 | 0.13 | 0.09 | 0.10 | -23.0 |
| Zeox | ZOX | 393 | 0.72 | 0.50 | 0.54 | -22.8 |
| Altai Res | ATI | 104 | 0.20 | 0.16 | 0.16 | -21.9 |
| Ballad Gld & S | BGS | 47 | 0.135 | 0.10 | 0.12 | -20.0 |
| Superior Can R | CAD | 66 | 0.115 | 0.095 | 0.10 | -20.0 |
| Duncan Park H | DPH | 123 | 0.50 | 0.20 | 0.32 | -20.0 |
| Intl KRL Res | IRK | 1408 | 0.395 | 0.305 | 0.31 | -18.4 |
TSX-V greatest value change
| WEEK VOLUME | CLOSE | CHANGE | ||
| Northern Dyn M | NDM | 1879856 | 12.45 | +0.94 |
| Asia Gold | ASG | 362843 | 3.29 | +0.94 |
| Triex Minerals | TXM | 255293 | 5.73 | +0.84 |
| Liberty Mines | LBE | 2592086 | 3.25 | +0.75 |
| Azimut Expl | AZM | 200360 | 4.60 | +0.75 |
| Dynasty Met&Mn | DMM | 370808 | 4.62 | +0.72 |
| Strathmore Min | STM | 3667435 | 4.50 | +0.69 |
| JNR Res | JNN | 2908412 | 3.26 | +0.67 |
| Western Prospc | WNP | 1303312 | 4.84 | +0.66 |
| Wealth Minls | WML | 687185 | 4.13 | +0.66 |
| Pac Booker Min | BKM | 48083 | 7.55 | -0.45 |
| Chesapeake Gld | CKG | 155474 | 6.24 | -0.41 |
| Tiger Intl | TGR | 59857 | 0.62 | -0.30 |
| Zeox | ZOX | 392500 | 0.54 | -0.16 |
| Andina Mnls | ADM | 741877 | 3.75 | -0.15 |
| Merrex Gold | MXI | 164900 | 0.79 | -0.15 |
| Cons Puma Minl | CPW | 89320 | 1.60 | -0.15 | Oromin Expl | OLE | 412204 | 3.65 | -0.15 |
| Callinan Mns | CAA | 518950 | 1.18 | -0.15 |
| Golden Arrow R | GRG | 21342 | 0.75 | -0.14 |
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