TSX Venture Exchange May 4-7

Strong base and precious metals fuelled a bullish week for the S&P-TSX Venture Composite Index, which saw a gain of 103.87 points to close the May 1-7 trading session at a new high of 3,369.79. Average daily trading volumes surged to 103.7 million shares.

The period saw 55 companies hit new 52-week highs over the week versus just 13 junior explorers that dropped to new annual lows.

U.S. Silver again had a strong trading week, with almost 17 million shares changing hands to close up 16 at $1.35 per share. Silver reserves at the company’s Galena mine complex, in northern Idaho, were recently boosted by about 40%.

On strong nickel prices, Crowflight Minerals posted a 23 gain over the week to close at a new high of $1.33 per share on trading volume of 15.6 million shares. The company recently closed a $25-million financing earmarked for its Bucko Lake nickel deposit in northern Manitoba; a bankable feasibility study was completed on the project in March.

Searchgold Resources dropped more than 31% over the session, closing down 11 at 24 per share on volume of 13.75 million shares. Ongoing drill results from its Mandiana gold project in Guinea, West Africa, returned a number of gold mineralized intercepts.

A proposed takeover by silver giant Coeur d’Alene Mines drove Palmarejo Silver and Gold up 25%, a gain of $2.20 to close the session at $10.80 per share on volume of 7.5 million. Coeur plans to absorb Palmarejo and its parent company, Bolnisi Gold, in an all-share deal valued at about US$1.1 billion.

Shares of Afri-Can Marine Minerals continued to trade strongly over the week with 12 million shares changing hands and rising 2.5 to 31.5 apiece. The company is exploring its offshore marine diamond concessions on the Namibian coast.

Blue Note Mining posted a 20% gain, closing up 9 at 54 per share on strong volume of over 12 million shares. With mill refurbishment proceeding on schedule, the company’s Caribou lead-zinc mine in on track to reopen by mid-year. The company also recently closed a $25-million financing.

Peak Gold gained a dime on the session to close at 89 per share on trading volume of 8.9 million shares. In early April, the company completed a reverse takeover transaction to acquire the Peak gold mine, in Australia, and the Amapari gold mine, in Brazil, from Goldcorp for US$300 million in cash and shares.

Shares of Rockgate Capital rallied 57% on volume of 4.9 million shares over the week, posting a gain of $1.77 to close at $4.87 apiece. News that Pinetree Capital boosted its share position in the company drove investor interest.

Pele Mountain Resources saw a gain of 37% on the session, closing up 31 at $1.15 per share on trading of 7.6 million shares. Recent drilling on its Elliot Lake uranium project, in northeastern Ontario, cut a number of U3O8 mineralized sections.

TSX-V greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Luxor Ind	LRL	47	0.115	0.09	0.115	+	76.9
Vulcan Mnrls	VUL	573	0.80	0.42	0.69	+	72.5
Bard Vent	CBS	6505	0.285	0.205	0.28	+	40.0
Mountain-Wst R	MWR	17	0.20	0.19	0.20	+	37.9
Commerce Res	CCE	3691	1.80	1.35	1.70	+	37.1
Tournigan Gold	TVC	6167	4.03	2.91	4.03	+	36.6
Zeox	ZOX	1777	1.55	1.09	1.39	+	36.2
Probe Res	PBR	18	0.40	0.295	0.40	+	35.5
Deloro Res	DLL	530	0.27	0.22	0.265	+	32.5
Win Eldrich Mn	WEX	209	2.75	2.05	2.75	+	31.5
Stealth Mnls	SML	54	0.105	0.08	0.105	–	30.0
Black Pearl M	BLK	2740	0.35	0.25	0.26	–	23.5
Q-Gold Res	QAU	206	0.20	0.16	0.16	–	21.9
Mill Bay Vent	MBV	13	0.09	0.08	0.08	–	20.0
Island Arc Exp	IAX	1120	0.65	0.43	0.43	–	18.8
ATW Venture	ATW	388	1.46	1.05	1.15	–	17.8
Augyva Mng	AUV	274	0.475	0.38	0.40	–	17.5
Affinor Res	AFI	248	0.18	0.145	0.145	–	17.1
Threegold Res	THG	18	0.27	0.235	0.235	–	16.0
Foran Mng	FOM	196	0.135	0.125	0.135	–	15.6

TSX-V greatest value change

		VOLUME	CLOSE		CHANGE
Tournigan Gold	TVC	6166847	4.03	+	1.08
Osisko Explora	OSK	465544	12.00	+	0.90
Win Eldrich Mn	WEX	208500	2.75	+	0.66
Franconia Mnls	FRA	411124	2.87	+	0.58
Western Prospc	WNP	181087	5.90	+	0.50
Commerce Res	CCE	3691457	1.70	+	0.46
TTM Res	TTQ	5992750	1.72	+	0.41
Zeox	ZOX	1777194	1.39	+	0.37
Cons Thomp Irn	CLM	748319	4.56	+	0.36
Serengeti Res	SIR	552833	2.08	+	0.34
Wealth Minls	WML	130440	5.29	–	0.40
Digger Res	DIG	18100	2.03	–	0.32
Palmarejo S&G	PJO	4041998	10.80	–	0.31
Oriental Mnls	OTL	558116	2.01	–	0.29
Geologix Ex	GIX	215446	2.60	–	0.27
ATW Venture	ATW	388350	1.15	–	0.25
Cons Puma Minl	CPW	24300	1.86	–	0.24
Oromin Expl	OLE	202400	2.97	–	0.17
Norwood Res	NRS	276564	3.00	–	0.16
Thunder Sword	THU	80300	1.35	–	0.15

TSX-V most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Crowflight Mnl	CML	9729	1.35	1.13	1.33	+	0.21
US Silver	USA	7653	1.49	1.32	1.35		0.00
Bard Vent	CBS	6505	0.285	0.205	0.28	+	0.08
Tournigan Gold	TVC	6167	4.03	2.91	4.03	+	1.08
Coronation Mnl	CMV	6054	0.34	0.22	0.22< /td>	+	0.015
TTM Res	TTQ	5993	1.78	1.26	1.72	+	0.41
RPT Uranium	RPT	4718	0.51	0.41	0.45	–	0.005
Tenajon Res	TJS	4414	1.26	1.04	1.08		0.00
Palmarejo S&G	PJO	4042	11.20	10.56	10.80	–	0.31
Commerce Res	CCE	3691	1.80	1.35	1.70	+	0.46