TSX Venture Exchange Feb. 27-Mar. 5

The Asian stock market correction prompted a major retraction in the resource sector over the Feb. 27-March 5 trading session as investors wondered if the region’s hunger for commodities would wane. The S&P-TSX Venture Composite Index plummeted almost 10% over the week, shedding 319.25 points to close at 2,955.39. Average daily trading volumes remained strong, at almost 110 million shares, as investors scrambled to crystallize earlier gains.

Market sentiment was reflected in the weekly measure of bulls versus bears, with a diminished 49 junior miners managing new 52-week highs against 44 companies that slumped to yearly lows on the trading session.

One of the market’s favourite uranium vehicles, UrAsia Energy, saw over 30 million shares change hands during the period with a drop of $1.25 to close at $6.65 per share. The company has production from operations in Kazakhstan and recently entered an agreement to merge with SXR Uranium One to form a new uranium major.

Bard Ventures remained among the trading leaders over the session with volume of more than 26 million shares; the stock shed 30%, however, closing down 14.5 at 34 per share. Drilling at its Lone Pine project near Houston, B.C., recently pulled a 490-metre intercept of 0.05% MoS2, including a 102.3-metre interval of 0.08% MoS2.

Another B.C. molybdenum-focused junior, TTM Resources, also turned in heavy volume, gaining 19.5 to close at 52 per share on 9.7 million shares traded. Initial drilling from the company’s Chu project, near Vanderhoof, B.C., pulled 198 metres of 0.132% molybdenum.

Trading in Skyharbour Resources perked up over the week; shares in the company closed up 1.5 at 17 on trading volume of 18 million shares. The company recently closed a 3-million-share private placement at a dime apiece and remains focused on projects in the Red Lake and Rainy River areas of northwestern Ontario.

Shares of Universal Uranium posted a 175% gain, closing up $1.03 at $1.62 apiece on volume of 16.7 million shares. The company, along with joint-venture partner Silver Spruce Resources, drilled a 30-metre intercept grading 0.11% U3O8 on its Northwest claim package in Labrador’s Central Mineral Belt.

Searchgold Resources gave back some recent gains to close down 12 at 26 per share on volume of 15.7 million shares. Recent high-grade gold values from its Mandiana project in Guinea, West Africa excited investors.

With 15.3 million shares changing hands, uranium hunter Ditem Explorations continued to post strong volume but slipped 45 to close at $1.85 per share. It recently began geophysics programs on its Athabasca basin projects.

Trading was strong in Vantex Resources following a high-grade gold intercept from its Guillet property in northwestern Quebec. Drilling cut a 3.3-metre interval of 62 grams gold.

TSX-V most active issues

VOLUME(000s) HIGH LOW CLOSE CHANGE
UrAsia Energy UUU 30276 7.65 6.50 6.65 -1.25
Bard Vent CBS 26245 0.57 0.325 0.34 -0.145
Skyharbour Res SYH 17997 0.225 0.145 0.17 +0.015
Universal Uran UUL 16739 1.70 0.51 1.62 +1.03
Searchgold Res RSG 15675 0.37 0.215 0.26 -0.12
Ditem Explor DIT 15269 2.55 1.76 1.85 -0.45
Vantex OG&Mnls VTX 13855 0.29 0.175 0.175 -0.025
Cypress Dev CYP 13042 0.51 0.315 0.40 +0.02
Cons Pac Bay CBP 12130 0.70 0.50 0.50 -0.21
Freewest Res FWR 10545 0.23 0.185 0.20 -0.00

TSX-V greatest percentage change

VOLUME(000s) HIGH LOW CLOSE CHANGE
Universal Uran UUL 16739 1.70 0.51 1.62 +174.5
Southampton Vn SV 1029 1.76 0.99 1.33 +98.5
TTM Res TTQ 9749 0.62 0.29 0.52 +60.0
Abington Vent ABV 221 0.255 0.17 0.20 +42.8
Palladon Vent PLL 2494 0.43 0.30 0.39 +36.8
Gobimin GMN 799 3.50 2.30 3.27 +35.6
Doublestar Res DSR 985 0.415 0.25 0.38 +33.3
Windarra Minls WRA 17 0.19 0.14 0.19 +31.0
Waseco Res WRI 6815 1.05 0.58 0.85 +30.7
Anglo Swiss ASW 1821 0.085 0.06 0.085 +30.7
Mandorin Goldf MGD 130 0.05 0.02 0.02 -50.0
Hudson Res HUD 4051 1.90 1.04 1.15 -40.4
JNR Res JNN 5418 4.14 2.59 2.59 -38.0
Bayswater Uran BAY 6506 2.35 1.54 1.61 -33.4
Mawson Res MAW 1680 3.30 2.26 2.28 -32.3
Searchgold Res RSG 15675 0.37 0.215 0.26 -31.5
Novawest Res NVE 2285 0.36 0.24 0.24 -31.4
Alberta Star D ASX 5771 2.65 1.77 1.80 -31.3
Coastport Cap CPP 841 0.80 0.52 0.55 -31.2
New Dimen Res NDR 152 0.40 0.265 0.29 -30.1

TSX-V greatest value change

VOLUME CLOSE CHANGE
Universal Uran UUL 16739304 1.62 +1.03
Gobimin GMN 799480 3.27 +0.86
Southampton Vn SV 1029001 1.33 +0.66
Arizona Star AZS 42100 14.10 +0.44
Cons AGX Res CSX 24475 2.39 +0.38
Mag Silver MAG 1014964 9.10 +0.36
Pan African Mg PAF 144627 3.00 +0.25
Rome Res RMR 12500 2.49 +0.22
Waseco Res WRI 6815164 0.85 +0.20
TTM Res TTQ 9749104 0.52 +0.195
Seabridge Gold SEA 347313 16.22 -3.18
Aurelian Res ARU 204303 29.01 -1.96
Osisko Explora OSK 603189 10.49 -1.84
Bear Creek Mng BCM 506650 6.70 -1.80
JNR Res JNN 5417530 2.59 -1.59
Western Prospc WNP 868042 4.18 -1.39
Pitchstone Exp PXP 1784654 3.40 -1.35
First Majestic FR 1016370 4.90 -1.35
UrAsia Energy UUU 30275623 6.65 -1.25
Triex Minerals TXM 649341 4.89 -1.24
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