TSX Venture Exchange July 24-30

In unison with other major markets, the S&P-TSX Venture Composite Index dropped 4.3% over the July 24-30 trading session to close down 142.8 points at 3,179.96. Average daily trading volumes were 74 million shares.

The junior board took a decisively bearish swing on the week as 68 companies set new 52-week lows versus a depressed 35 junior explorers that managed new annual highs.

Additional high-grade nickel intercepts from its Jacobus project, near Beardmore in northwestern Ontario, boosted Sage Gold to top trader for the week. The stock gave up three pennies, however, to close at 17.5 per share on more than 20 million shares traded after the company announced drill intervals of up to 6.6 metres grading 2.12% nickel and 1% copper.

Blue Note Mining remained a strong trader on the week with volume of almost 17.4 million shares, but closed down 6 at 65 per share. The new producer has begun processing ore at its recently reactivated Caribou lead-zinc mine in New Brunswick and is due to begin selling concentrates.

A 28.65-metre intersection of 1.06% nickel from Knight Resources’ 49%-held West Raglan project, in northern Quebec, sent its stock soaring 50%, closing the week at 78 per share on volume of 12.7 million shares. The junior is joint ventured with Anglo American’s Canadian subsidiary, which holds 51%.

Gold Hawk Resources saw trading volume of 8.7 million shares on the session, but posted a 3 decline to close at 59 per share. It is advancing its Coricancha precious and base metal project in Peru, and has lined up a $10-million brokered financing to fund its effort.

Shares of Peak Gold pulled back on the week, closing down 13 at 60 apiece on trading volume of more than 7 million. The company operates the Peak gold mine in Australia and the Amapari gold mine in Brazil, both acquired earlier this year from Goldcorp.

Trading in Olivut Resources perked up on recent news it has started drilling its HOAM diamond project in the Northwest Territories. The stock gained 17 to close the session at $1.78 per share on trading volume of 4.1 million shares.

On weakened nickel prices, aspiring producer Crowflight Minerals saw its share price slip 6 to 85 apiece on trading volume of 3.6 million shares. The company is building a mine at its Bucko Lake nickel deposit, in northern Manitoba, where it anticipates an early 2008 startup.

Northern Dynasty Minerals rallied 20% on more that 2 million shares traded, closing the week up $2.65 at $16.15 per share before trading was halted pending news. It has been advancing its several-billion-tonne Pebble copper-gold-molybdenum deposits in southwestern Alaska, and is considering forming a consortium to permit, finance, develop and operate the proposed mine.

Pediment Exploration posted a gain of 55% to close up 56 at $1.57 per share after delivering wide, high-grade gold intercepts from drilling at its San Antonio project, in Mexico.

TSX-V greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Tearlach Res	TEA	77	0.45	0.25	0.45	+	63.6
Pediment Expl	PEZ	2325	1.75	0.97	1.57	+	55.4
Knight Res	KNP	12693	0.90	0.50	0.78	+	50.0
Gulfside Mnls	GMG	1687	1.70	1.10	1.64	+	46.4
Nevgold Res	NDG	11	0.68	0.53	0.68	+	41.6
Verona Dev	VDC	162	0.28	0.185	0.24	+	26.3
Wildcat Expl	WEL	139	0.295	0.245	0.25	+	25.0
Cascadia Intl	CJ	252	0.18	0.145	0.18	+	24.1
Gold Canyon	GCU	1186	0.87	0.67	0.83	+	23.8
Goldbrook Vent	GBK	2538	0.48	0.38	0.475	+	23.3
Fieldex Expl	FLX	349	0.67	0.32	0.55	–	86.7
Inter-Rock Mnl	IRO	52	0.115	0.11	0.11	–	35.2
Carlin Gold	CGD	33	0.17	0.13	0.13	–	35.0
Wind River Res	WRR	179	0.175	0.125	0.125	–	32.4
New Shoshoni V	NSV	47	0.29	0.23	0.23	–	32.3
Dynamite Res	DNR	1056	0.70	0.46	0.50	–	31.5
Lysander Minls	LYM	69	0.33	0.265	0.265	–	30.2
Los Andes Copp	LA	60	0.55	0.39	0.39	–	29.0
Endurance Gold	EDG	110	0.29	0.18	0.215	–	28.3
Running Fox Rs	RUN	424	1.20	0.85	0.89	–	28.2

TSX-V greatest value change

		VOLUME	CLOSE		CHANGE
Northern Dyn M	NDM	2092540	16.15	+	2.65
Seabridge Gold	SEA	141984	30.73	+	1.29
Pac Booker Min	BKM	35283	11.55	+	0.80
Pediment Expl	PEZ	2325141	1.57	+	0.56
Gulfside Mnls	GMG	1687175	1.64	+	0.52
East Asia Mnls	EAS	1375111	2.10	+	0.35
Intl Enexco	IEC	374394	3.29	+	0.35
Knight Res	KNP	12693127	0.78	+	0.26
Genco Res	GGC	95465	4.15	+	0.25
Salazar Res	SRL	601593	3.06	+	0.22
Fieldex Expl	FLX	348626	0.55	–	3.59
Azimut Expl	AZM	435201	6.28	–	2.20
Mag Silver	MAG	273812	14.70	–	1.10
SouthGobi Engy	SGQ	113050	6.60	–	1.05
Western Prospc	WNP	396131	5.00	–	0.89
Strathmore Min	STM	2535004	3.17	–	0.68
U3O8 Corp	UWE	467680	1.87	–	0.55
Uruguay Mnl Ex	UME	37300	3.15	–	0.55
Crosshair E&Mg	CXX	2436243	2.16	–	0.52
MBMI Res	MBR	274644	2.00	–	0.50

TSX-V most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Sage Gold	SGX	20341	0.28	0.17	0.175	–	0.03
Blue Note Mng	BN	17373	0.71	0.62	0.65	–	0.06
Knight Res	KNP	12693	0.90	0.50	0.78	+	0.26
Winfield Res	WWF	11574	0.73	0.445	0.465	–	0.145
Gold Hawk Res	CGK	8705	0.63	0.59	0.59	–	0.03
Peak Gold	PIK	7048	0.73	0.60	0.60	–	0.13
Yukon Zinc	YZC	5941	0.305	0.265	0.28	–	0.005
Olivut Res	OLV	4123	1.82	1.25	1.78	+	0.17
Montello Res	MEO	3896	0.145	0.13	0.13	–	0.005
Crowflight Mnl	CML	3593	0.92	0.80	0.85	–	0.06