After weeks on the up-and-up, the S&P-TSX Venture Composite Index turned slightly bearish during the Oct. 2-5 trading session, losing 15.09 points to close at 2,857.57. Average daily trading volume also sank to 77.7 million shares.
Continuing the bearish trend, more than twice as many companies fell to new lows over the week as climbed to new highs. On the junior board, 59 explorers sank to new share price lows, while only 25 posted new highs.
Despite being halted for most of the week, VMS Ventures dominated trading activity. In the one day plus one hour that the stock was up for grabs, more than 43 million VMS shares changed hands. The share price peaked at $1.29 then fell 23 to close at $1.06, still a 43% gain. The activity followed results from the second hole at the company’s volcanogenic massive sulphide discovery at Reed Lake in Manitoba.
More than 38 million shares of Hawkeye Gold & Diamond were traded over the session, moving the penny stock up 2 by the end of the week. The company has speculated that increased trading volume since mid-September is due to good drill results from Grandview Gold’s Dixie Lake property, which is adjacent to Hawkeye’s Dedee Rhode and Dixie Bell gold properties in northern Ontario.
Another volume and value-gain leader was TTM Resources, which traded 13.9 million shares to close the session up 34 at $1.32. There was no obvious reason for TTM’s activity.
Noront Resources and neighbours MacDonald Mines Exploration and Spider Resources continued to trade high volumes, however news out of the companies’ properties, in the James Bay lowlands of Ontario, was slow.
Shares of Kodiak Exploration moved up 24% to close the session at $1.23 apiece on trading volume of 11.1 million. The company released assay results from the 2007 drill program at the Hercules project, in the Beardmore-Geraldton gold camp in southern Ontario. All 10 drill holes at Hercules hit gold mineralization.
Northern Dynasty Minerals climbed 96 on good volume after announcing significant new drill results from Pebble East, and Exeter Resource moved up 60 on drill results from the Cerro Moro gold project, in Argentina.
SouthGobi Energy Resources lost 46 per share over the week, closing at $6.22, and Salazar Resources saw its stock fall 32 to close at $2.88 per share. Neither company put out any news over the trading session.
Nickel-sulphide intercepts from Liberty Mines’ Hart project, in Ontario, did not seem to impress investors. The stock fell 28, or 11%, to close at $2.37 per share. Similarly, drill results from Full Metal Minerals’ Mount Andrew copper-silver-gold target, on Prince of Wales Island in Alaska, failed to stop a 27 slide over the session; the stock closed at $2.63. And following results from Knight Resources’ West Raglan project, in Quebec, the company’s share price lost 14, closing at 25 apiece.
TSX-V greatest percentage change
VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | |||
Westward Expl | WWE | 90 | 0.155 | 0.14 | 0.155 | + | 93.7 |
Threegold Res | THG | 1511 | 0.83 | 0.38 | 0.75 | + | 80.7 |
Kettle River | KRR | 1180 | 0.31 | 0.18 | 0.30 | + | 66.6 |
Sanatana Diam | STA | 920 | 0.52 | 0.39 | 0.40 | + | 60.0 |
Absolut Res | ABS | 2212 | 1.05 | 0.92 | 0.96 | + | 60.0 |
Wildcat Expl | WEL | 5550 | 0.43 | 0.22 | 0.32 | + | 48.8 |
VMS Vent | VMS | 45180 | 1.52 | 1.00 | 1.06 | + | 43.2 |
E-Energy Vent | EEV | 7387 | 0.275 | 0.155 | 0.235 | + | 42.4 |
Hawkeye Gold | HKO | 38148 | 0.095 | 0.045 | 0.07 | + | 40.0 |
Northern Shiel | NRN | 3390 | 1.10 | 0.58 | 0.76 | + | 38.1 |
Knight Res | KNP | 6029 | 0.425 | 0.225 | 0.255 | – | 35.4 |
VG Gold | VG | 22 | 0.31 | 0.25 | 0.29 | – | 32.5 |
Latin Am Mnls | LAT | 427 | 0.45 | 0.32 | 0.32 | – | 29.6 |
Superior Mng | SUI | 72 | 0.45 | 0.385 | 0.385 | – | 28.7 |
Bishop Gold | BSG | 165 | 0.03 | 0.005 | 0.025 | – | 28.5 |
Beta Minerals | BMI | 179 | 0.11 | 0.09 | 0.09 | – | 28.0 |
Grande Portage | GPG | 176 | 0.40 | 0.29 | 0.305 | – | 27.3 |
Great Sthn Ent | GSR | 95 | 0.045 | 0.04 | 0.04 | – | 27.2 |
Teryl Res Corp | TRC | 97 | 0.235 | 0.20 | 0.20 | – | 27.2 |
Solomon Res | SRB | 257 | 0.30 | 0.225 | 0.24 | – | 27.2 |
TSX-V greatest value change
VOLUME | CLOSE | CHANGE | |||
Northern Dyn M | NDM | 944811 | 11.87 | + | 0.96 |
Exeter Res | XRC | 189160 | 3.75 | + | 0.60 |
Ascot Res | AOT | 392027 | 2.40 | + | 0.50 |
Keegan Res | KGN | 419670 | 3.45 | + | 0.45 |
Energold Drill | EGD | 2057038 | 3.90 | + | 0.40 |
AuEx Vent | XAU | 211437 | 2.23 | + | 0.37 |
Absolut Res | ABS | 2211820 | 0.96 | + | 0.36 |
Andina Mnls | ADM | 1025470 | 3.85 | + | 0.35 |
TTM Res | TTQ | 13887282 | 1.32 | + | 0.34 |
Threegold Res | THG | 1511357 | 0.75 | + | 0.335 |
SouthGobi Engy | SGQ | 60267 | 6.22 | – | 0.46 |
Salazar Res | SRL | 692518 | 2.88 | – | 0.32 |
Mag Silver | MAG | 94049 | 13.49 | – | 0.31 |
Tournigan Gold | TVC | 734711 | 2.40 | – | 0.29 |
Liberty Mines | LBE | 410998 | 2.37 | – | 0.28 |
Osisko Explora | OSK | 739730 | 5.23 | – | 0.28 |
Full Metal Mnl | FMM | 363390 | 2.63 | – | 0.27 |
U3O8 Corp | UWE | 212449 | 1.61 | – | 0.25 |
Mansfld Mnrls | MDR | 802425 | 4.00 | – | 0.25 |
Rockgate Cap | RGT | 483677 | 1.02 | – | 0.23 |
TSX-V most active issues
VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | |||
VMS Vent | VMS | 45180 | 1.52 | 1.00 | 1.06 | + | 0.32 |
Hawkeye Gold | HKO | 38148 | 0.095 | 0.045 | 0.07 | + | 0.02 |
MacDonald Mns | BMK | 14357 | 0.30 | 0.24 | 0.28 | + | 0.015 |
TTM Res | TTQ | 13887 | 1.59 | 0.97 | 1.32 | + | 0.34 |
Noront Res | NOT | 12411 | 4.00< /td> | 3.28 | 3.55 | – | 0.05 |
Plato Gold | PGC | 11323 | 0.135 | 0.10 | 0.12 | + | 0.025 |
Kodiak Expl | KXL | 11105 | 1.45 | 1.05 | 1.23 | + | 0.24 |
Spider Res | SPQ | 9191 | 0.105 | 0.09 | 0.09 | – | 0.01 |
Yukon Zinc | YZC | 9103 | 0.255 | 0.21 | 0.225 | – | 0.025 |
Sage Gold | SGX | 8186 | 0.235 | 0.16 | 0.215 | + | 0.045 |
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