TSX VENTURE EXCHANGE JULY 29-AUG. 1

Despite another week that saw more than 300 new lows versus only four new highs, the S&P-TSX Venture Index managed to creep up 52 points during the truncated July 29-Aug. 1 trading session. The index ended up at 2,238 points on the first day of August with an average daily volume of 60 million.

After climbing last week, the coal roller coaster in Saskatchewan led by Goldsource Mines crested again and entered a light — though not stomach-churning — dip. Goldsource dropped $1.29 to close at $8.66. Sitting behind Goldsource, area players followed suit: North American Gem dropped 2 to close at 28 and Cloudbreak Resources fell 1 to close at 12.

In Manitoba, potash exploration junior Western Potash enjoyed a nice climb, gaining 23 to close at $1.50 on 3 million trades. The company announced results of the first drill hole at its 555-sq.-km Russell-Miniota property, hitting an intersection at 882 metres depth that resembles the Esterhazy member which, 13 km away in Saskatchewan, Potash Corp. of Saskatchewan mines for sylvite. And in Australia, Crescent Resources gained 5 to close at 18 after announcing it had signed a letter of agreement to acquire a potash property from the Australian Potash Co.

Bear Creek Mining jumped 50 to close at $4.20 on Aug. 1. It looked a bit like delayed reaction — the week before, it lost 61 on the release of drill results from 27 holes, including 116 metres grading 103 grams silver per tonne at its Santa Ana property, in Peru. Exeter Resource gained 53 on news of a 3.6-metre drill intersection grading 471 grams per tonne gold at its Cerro Moro project, in Argentina.

Zinccorp Resources enjoyed a 66.6% boost to close at 35 on news that it hit 7.9 metres grading 22.72% zinc, 17.4% lead and 510.7 grams silver per tonne at its central B. C. Michelle property. Nebu Resources also gained 66.6% to close at 15.

As for downs, the market didn’t like Rainy River Resources’ 10.5-metre drill interval grading 2.83 grams gold per tonne at its Richardson Twp. property, 80 km south of Kenora, Ont. It lost 25 to close at $2.76.

As Menika Mining’s drills turn at its Reliance gold project, in B. C., its share price lost 40% to close at 9. And as Antares Minerals drills at its Haquira property in Peru, its share price dropped 24 to close at $2.99.

Whitemud Resources also had a rough patch this week, dipping 26 to close at $5.73. The company announced it had shut down production at its metakaolin mine in Saskatchewan to replace refractory brick lining for a rotary kiln, and its share price shed 49. But at least it ended the week on a good note, gaining 33 on Aug 1.

TSX-V most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Century Mining	CMM	14184	0.07	0.04	0.07	+ 0.03
North Am Gem	NAG	9264	0.29	0.22	0.28	-0.02
Cloudbreak Res	CDB	7273	0.14	0.11	0.12	-0.01
Crescent Res	CRC	4484	0.28	0.12	0.18	+ 0.05
Cypress Dev	CYP	4312	0.39	0.23	0.34	+ 0.10
Largo Res	LGO	4171	0.87	0.75	0.84	+ 0.10
NorthernGldM	NGM	3454	0.34	0.26	0.31	0.00
Typhoon Expl	TOO	3364	0.07	0.03	0.05	-0.02
Atacama Min	AAM	3095	1.01	1.00	1.00	-0.04
Western Potash	WPX	3029	1.55	1.21	1.50	+ 0.23

TSX-V greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Goldrea Res	GOR	82	0.23	0.15	0.17	+112.5
Century Mining	CMM	14184	0.07	0.04	0.07	+ 75.0
Zinccorp Res	ZN	143	0.36	0.22	0.35	+ 66.6
Nebu Res	NBU	101	0.15	0.12	0.15	+ 66.6
Universal Uran	UUL	835	0.29	0.20	0.29	+ 52.6
Waymar Res	WYM	79	0.27	0.22	0.27	+ 50.0
Intl KRL Res	IRK	280	0.06	0.04	0.06	+ 50.0
Bonanza Res	BRS	80	0.13	0.10	0.12	+ 50.0
Midasco Cap	MGC	26	0.09	0.09	0.09	+ 50.0
ICS Copper Sys	ICX	360	0.57	0.35	0.52	+ 48.5
Menika Mining	MML	105	0.14	0.09	0.09	-40.0
Chilean Gold	CHN	20	0.35	0.28	0.32	-38.4
Resolve Vent	RSV	67	0.07	0.05	0.05	-37.5
Azteca Gold	AZG	650	0.08	0.04	0.06	-33.3
Viking Gold	VGC	19	0.08	0.05	0.06	-33.3
Aura Silver Rs	AUU	32	0.15	0.10	0.10	-33.3
Silver Grail R	SVG	30	0.27	0.17	0.19	-29.6
Windarra Minls	WRA	24	0.13	0.12	0.12	-29.4
Confedertn Mls	CFM	75	0.20	0.17	0.17	-29.1
Typhoon Expl	TOO	3364	0.07	0.03	0.05	-28.5

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
SouthGobi Engy	SGQ	16153	18.50	+ 1.00
Canplats Res	CPQ	653315	3.69	+ 0.58
Exeter Res	XRC	216427	3.75	+ 0.53
Bear Creek Mng	BCM	435569	4.20	+ 0.50
Potash North	PON	209 6366	1.80	+ 0.48
Hathor Expl	HAT	2478968	3.39	+ 0.48
Chesapeake Gld	CKG	33558	6.95	+ 0.34
Western Potash	WPX	3028823	1.50	+ 0.23
Noront Res	NOT	882255	3.36	+ 0.23
Terra Vent	TAS	992775	0.85	+ 0.21
Goldsource Min	GXS	494934	8.66	-1.29
Whitemud Res	WMK	26949	5.73	-0.26
Rainy River Rs	RR	461045	2.76	-0.25
Antares Minls	ANM	167378	2.99	-0.24
Chilean Gold	CHN	19525	0.32	-0.20
North Am Tung	NTC	21093	0.83	-0.16
Gobimin	GMN	71600	1.44	-0.16
Midway Gold	MDW	39207	1.60	-0.15
Lucara Diam	LUC	24480	0.95	-0.15
Kootenay Gold	KTN	79900	1.51	-0.14