TSX Venture Exchange – Oct. 20-26

After several strong months that lifted the S&P/TSX Venture composite index some 300 points since mid-July, the board faltered over the week of Oct. 20-26, losing 32.85 points to close at 1,305.95. Daily trading volumes did not fade, though, coming in at an average of 139 million shares.

And the Venture board’s weakness did not run deep enough to dampen the ratio of juniors reaching new 52-week highs against those falling to new lows. Over the week, 112 Venture-listed companies reached new peaks, while only 17 sunk to new lows.

Fortuna Silver’s rising share price broke through to a new high after the company increased indicated resources at the San Jose mine in Mexico by 112%. The Trinidad zone at San Jose now hosts 2.69 million indicated tonnes grading 295 grams silver per tonne and 2.27 grams gold, as well as 2.41 million inferred tonnes averaging 262 grams silver and 2.11 grams gold.

Castle Gold gained 17¢ to reach 93¢ on news that production ramp-up at its new El Castillo gold mine exceeded expectations in the third quarter. The mine produced 7,655 oz. gold, a 19% increase from the previous quarter, and mined 2.6 million tonnes, a 39% increase from the previous three months. El Castillo is currently home to 94 million measured and indicated tonnes grading 0.39 gram gold.

A boardroom battle has driven New Guinea Gold shares down to a new low. In mid-October, a group of concerned investors representing 5% of the company’s outstanding shares requisitioned a special shareholder meeting to try to oust the current board, which it says is the “only means to ultimately realize the potential of the company’s assets.” New Guinea’s president has since responded with arguments against the group’s concerns. The company’s shares closed the week down 2¢ at 12¢.

A 309-metre intercept starting at surface and grading 2.25 grams gold from the Santa Fe gold project in Nevada lifted Victoria Gold’s share price 18¢ to close the week at 79¢. The news also boosted Victoria’s trading volume significantly; more than 17 million Victoria shares changed hands in one day. The results came from the company’s second hole at the project, in which it is earning a 70% interest from Barrick Gold. Santa Fe is home to a historic open-pit mine that produced 350,000 oz. gold in the 1980s and 1990s.

Despite announcing a 41-metre intercept grading 3.32 grams gold, Canaco Resources shares fell 20¢ over the week to 39¢. Canaco is exploring the Magambazi project in Tanzania, where sulphide gold is hosted in a structurally controlled and steeply plunging alteration zone. Investor disappointment likely stemmed from three holes collared north of the zone that hit a fault, bounding mineralization in that direction.

And Blue Sky Uranium’s share price almost doubled, gaining 21¢ to reach 48¢, after Ross Beaty’s Lumina Capital spent $1 million to pick up 4.6 million shares, bringing its interest in the company to 12%. Blue Sky is exploring the ANIT uranium project in Argentina.

TSX-V most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Canasia Indust	CAJ	36284	0.27	0.14	0.16	-0.07
Victoria Gold	VIT	21567	0.84	0.48	0.72	+ 0.18
Garson Gold	GG	19127	0.12	0.10	0.11	+ 0.01
Amador Gold	AGX	18661	0.09	0.06	0.07	+ 0.01
North Am Gem	NAG	18370	0.19	0.09	0.15	+ 0.07
Canaco Res	CAN	17769	0.62	0.37	0.39	-0.20
Sola Res	SL	13147	0.03	0.01	0.02	+ 0.01
Northrock Res	NRK	12831	0.26	0.10	0.10	+ 0.03
Terrane Metals	TRX	12253	0.96	0.70	0.74	-0.19
Network Expl	NET	11674	0.06	0.05	0.06	+ 0.01

TSX-V Greatest Percentage Change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Prophecy Res	PCY	2798	0.20	0.07	0.19	+280.0
New Dimen Res	NDR	5467	0.20	0.06	0.16	+220.0
African Metals	AFR	714	0.35	0.17	0.34	+126.6
Pac Coast Nikl	NKL	60	0.08	0.04	0.08	+100.0
Sola Res	SL	13147	0.03	0.01	0.02	+100.0
Global Minls	CTG	1201	0.03	0.02	0.02	+100.0
Searchgold Res	RSG	1356	0.04	0.03	0.04	+100.0
Tr-River Vent	TVR	25	0.29	0.15	0.29	+ 93.3
Solid Res	SRW	197	0.15	0.07	0.15	+ 87.5
North Am Gem	NAG	18370	0.19	0.09	0.15	+ 87.5
CZM Capital	CZM	43	0.04	0.03	0.03	-57.1
Intl Kirkland	IKI	556	0.02	0.01	0.01	-50.0
Gee-Ten Vent	GTV	585	0.03	0.01	0.01	-50.0
MountainBoyM	MTB	7551	0.33	0.16	0.17	-45.1
Decade Res	DEC	7863	1.42	0.66	0.70	-44.8
Kettle River	KRR	191	0.06	0.04	0.04	-42.8
Teuton Res	TUO	2120	0.29	0.17	0.17	-37.0
Totem Mnls	TTM	21	0.17	0.16	0.16	-36.0
Zinco Mng	ZIM	27	0.10	0.09	0.09	-35.7
Iciena Vent	IIE	5280	0.13	0.09	0.09	-35.7

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
SouthGobi Engy	SGQ	147751	12.80	+ 0.80
Blue Sky Uran	BSK	6488617	0.48	+ 0.21
Galway Res	GWY	5036977	1.18	+ 0.20
African Metals	AFR	714290	0.34	+ 0.19
Victoria Gold	VIT	21567461	0.72	+ 0.18
Castle Gold	CSG	2258990	0.93	+ 0.17
Eurasian Minls	EMX	187837	1.61	+ 0.15
Tr-River Vent	TVR	24600	0.29	+ 0.14
Prophecy Res	PCY	2797700	0.19	+ 0.14
Rocky Mtn Res	RKY	18641	0.49	+ 0.14
Decade Res	DEC	7863461	0.70	-0.57
Quest Uranium	QUC	3173723	1.88	-0.57
Pac Booker Min	BKM	17793	7.76	-0.53
Intl Tower Hil	ITH	824779	5.40	-0.49
Rare Elemnt Rs	RES	911466	3.03	-0.38
San Gold Res	SGR	8704374	2.70	-0.38
Intl Wayside G	WYG	2633086	1.21	-0.34
Goldsource Min	GXS	338179	1.90	-0.28
Hathor Expl	HAT	3560305	1.99	-0.24
Atac Res	ATC	2207537	1.02	-0.23