TSX Venture Exchange April 10-16

The 5-day trading session ended April 16 was another period of furious gains in the junior resource sector, as evidenced by the TSX Venture Exchange Index closing at a strong 3,348.73, up 66.1 points from April 9.

The bulls overran the bears during the period, with 106 new 52-week highs versus only 21 new lows registered on the junior board.

The formerly obscure Vancouver-based explorer GGL Diamond spent another week atop the most-active list on the back of the early April announcement that it had locked up much of an 80-km-long nickel-mineralized belt situated 260 km northeast of Yellowknife, N.W.T. After trading in the low teens a couple of weeks ago and soaring as high as $1.50 last period, GGL shares settled down 18 to close at 55 with 27.3 million shares trading hands.

Another diamond explorer, Olivut Resources, topped the percentage gainer list, rising 119% to $1.75 on 5.5 million shares traded, but said it couldn’t explain the market activity. Based in Hinton, Alta., and led by president and CEO Leni Keough, Olivut has spent $7 million evaluating its new HOAM diamond project, south of Great Bear Lake in the Northwest Territories. In January, Olivut changed its name from Arrabbiata Capital Corp. and its ticker to OLV from ABC.H.

Commerce Resources shot up 49, or 74%, to $1.15 on heavy volume as it received environmental approval for its Upper Fir tantalum-niobium project near Blue River, B.C. The company is set to proceed later this year with a prefeasibility study that will incorporate metallurgical test results expected in May.

Another heavy trader was UrAsia Energy, which dropped 15 to $7.99 as 18 million shares crossed the floor. On April 12, the company obtained a final order from the Supreme Court of British Columbia, paving the way for a shareholder-approved merger with TSX-listed SXR Uranium One in late April. Under a plan of arrangement, UrAsia shareholders will receive 0.45 of an SXR share for every UrAsia share, with the resulting company to be renamed Uranium One.

Although the company hasn’t made a public filing since February, Vancouver-based Cangold surfaced as a big gainer, rising 59% to 17.5. In its most recent filing the Robert A. Archer-led company stated that, while its activities have been focused on the exploration and development of precious and base metals in Canada, principally in Ontario and B.C., it will “also be concentrating on acquiring gold and copper exploration and production properties in Mexico.”

On the down side, shares of Silver Spruce Resources dropped 50 to $1.39 as the company reported a second round of uranium drill results from the Two Time zone, a radioactive anomaly located on the CMBNW claim block, east of Snegamook Lake in central Labrador. Based in Bridgewater, N.S., Silver Spruce is exploring the property in a joint venture with Vancouver’s Universal Uranium, which ended the period similarly off 40 at $1.35.

Another loser was Triex Minerals, which sank 80 to $5.70 as it announced it was kicking off a C$1.5-million uranium exploration program this year at the Boulder Creek project in Alaska, a joint venture with Full Metal Minerals. Full Metal was up a penny to $2.49.

TSX-V most active issues

VOLUME(000s) HIGH LOW CLOSE CHANGE
GGL Diamond GGL 27342 0.74 0.48 0.55 -0.18
UrAsia Energy UUU 18029 8.25 7.46 7.99 -0.15
Cypress Dev CYP 16673 0.70 0.48 0.66 +0.185
Electra Gold ELT 15680 0.24 0.09 0.11 +0.02
Skyharbour Res SYH 15575 0.25 0.17 0.245 +0.075
Plexmar Res PLE 15074 0.54 0.315 0.49 +0.175
Bard Vent CBS 14901 0.295 0.21 0.235 -0.055
Pac Comox PCM 14437 0.22 0.15 0.185 +0.03
Commerce Res CCE 10606 1.44 0.62 1.15 +0.49
Tamerlane Vent TAM 10542 1.70 0.89 1.35 +0.48
TSX-V greatest percentage change
VOLUME(000s) HIGH LOW CLOSE CHANGE
Olivut Res OLV 5564 1.78 0.83 1.75 +118.7
Commerce Res CCE 10606 1.44 0.62 1.15 +74.2
Cangold CLD 4051 0.20 0.115 0.175 +59.0
Plexmar Res PLE 15074 0.54 0.315 0.49 +55.5
Tamerlane Vent TAM 10542 1.70 0.89 1.35 +55.1
West High Yld WHY 1426 0.78 0.45 0.72 +53.1
Radisson Mng RDS 685 0.35 0.23 0.35 +52.1
VMS Vent VMS 6385 0.32 0.185 0.30 +50.0
Newport Expl NWX 2641 0.58 0.39 0.55 +48.6
Midasco Gold MGC 120 0.25 0.21 0.25 +47.0
Northern Abiti NAI 4892 0.24 0.15 0.165 -29.7
Silver Spruce SSE 1594 1.88 1.30 1.39 -26.4
GGL Diamond GGL 27342 0.74 0.48 0.55 -24.6
Normiska NNC 24 0.165 0.16 0.16 -23.8
Gray Rock Res GRK 190 0.16 0.145 0.145 -23.6
Universal Uran UUL 2501 1.78 1.07 1.35 -22.8
Verona Dev VDC 182 0.325 0.235 0.24 -22.5
Micrex Devel MIX 16 0.40 0.21 0.24 -22.5
Winslow Res WLR 111 0.10 0.09 0.09 -21.7
Dumont Nickel DNI 7395 0.235 0.145 0.165 -21.4

TSX-V greatest value change

VOLUME CLOSE CHANGE
Seabridge Gold SEA 154329 20.50 +2.46
Dynasty Met&Mn DMM 550201 6.70 +2.10
Wealth Minls WML 909265 5.89 +1.59
Northern Dyn M NDM 2452850 13.50 +1.13
Pac Booker Min BKM 106094 11.15 +1.10
Olivut Res OLV 5564193 1.75 +0.95
Genco Res GGC 503797 4.75 +0.95
Geologix Ex GIX 3097989 2.77 +0.72
Bear Creek Mng BCM 911275 7.66 +0.71
BRC Diamond BRC 62920 6.61 +0.71
Triex Minerals TXM 909274 5.70 -0.80
Silver Spruce SSE 1593910 1.39 -0.50
Keegan Res KGN 248159 4.14 -0.49
Aranka Gold ARK 609
75
3.50 -0.45
Mag Silver MAG 1059093 8.06 -0.44
New Pac Metals NUX 140105 2.95 -0.40
Universal Uran UUL 2501185 1.35 -0.40
Norwood Res NRS 1557705 2.78 -0.40
Hard Creek Ni HNC 721174 2.46 -0.38
Strateco Res RSC 5607538 3.55 -0.37
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