The S&P/TSX Venture composite index dropped during the May 4-10 trading period, following jitters about Greek sovereign debt and wild market trading, possibly caused by runaway computer trading. The Venture Exchange fell 116.2 points in the first four days, before adding 41.41 points to close at 74.79. Daily trading volumes were high, averaging 135 million.
The board was bearish as 122 Venture-listed companies fell to new 52-week lows while only 45 juniors rose to new highs.
A new property acquisition in Indonesia sent Centurion Minerals up 21% or 33¢ to $1.89 per share before settling at $1.70. The company has secured an 80% interest in the Banda Raya and Halimon properties in Sumatra. The 100-sq.-km properties are next to East Asia Minerals’ Miwah gold discovery.
East Asia completed an $18.85-million nonbrokered financing by issuing 2.5 million shares at $7.54 apiece. The company has wasted no time in using the funds, announcing that it would add a third drill rig to the site. East Asia traded 2.4 million shares, closing the period down 20¢ at $7.70 apiece.
Junior partners Spider Resources and KWG Resources saw heavy trading as an initial resource estimate was released for the Big Daddy chromite deposit in the McFaulds Lake area in northern Ontario. Spider and KWG each hold a 26.5% interest in the project while Freewest Resources, a subsidiary of Cliffs Natural Resources, holds the remainder. Big Daddy now hosts 23.2 million indicated tonnes grading 40.66% Cr203 and 16.3 million inferred tonnes averaging 39.09% Cr203. Both juniors fell 2¢ per share despite the activity, with Spider closing at 9.5¢ and KWG settling at 9¢.
Lithium One kept steady in the turmoil after a Bay Street brokerage house released a positive report on the company and upped the target price following a site visit. Lithium One continues to advance its 100%-owned Sal de Vida project in northwest Argentina, with ongoing trenching and drilling, lab tests and a resource estimate expected soon. The company’s share price jumped 17¢ or 11.6% to end the period at $1.63.
Intriguing drill results from Belvedere Resources’ Kopsa gold project in Finland helped keep the company’s stock price afloat. Drill results included 92.2 metres grading 3.16 grams gold per tonne, 15.9 metres averaging 0.87 gram gold and 27.2 metres carrying 1.26 grams gold. The stock rose 15.6% or 2.5¢ to 18.5¢ on the news before dipping to 17.5¢.
After an encouraging late-2009 drill program, Novus Gold got a boost when it announced the start of this year’s drill program at its Ren gold project in the Northwest Territories. Previous results include 21.3 metres grading 2.09 grams gold and 32.1 metres averaging 2.39 grams gold. The company’s share price climbed 4.5¢ or 17.3% to 30.5¢ on the drill news, before ending the period up a penny at 30¢ on 1.2 million shares traded.
| TSX-V most active issues | |||||
| VOLUME | WEEK | ||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | |
| Foran Mng FOM | 70992 | 0.12 | 0.03 | 0.09 | + 0.07 |
| Halo Res HLO | 18989 | 0.05 | 0.04 | 0.04 | 0.00 |
| Spider Res SPQ | 17533 | 0.12 | 0.09 | 0.09 | 0.00 |
| Woulfe Mng WOF | 14111 | 0.15 | 0.12 | 0.14 | -0.01 |
| KWG Res KWG | 13404 | 0.11 | 0.08 | 0.09 | -0.01 |
| Arctic Star Di ADD | 13063 | 0.05 | 0.04 | 0.05 | -0.01 |
| Palladon Vent PLL | 12973 | 0.04 | 0.02 | 0.04 | + 0.01 |
| Cash Minerals CHX | 8606 | 0.04 | 0.03 | 0.03 | + 0.01 |
| Gold Bulln Dev GBB | 8530 | 0.39 | 0.34 | 0.36 | -0.03 |
| Abacus Mng&Ex AME | 8226 | 0.34 | 0.22 | 0.26 | -0.08 |
| TSX-V greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Foran Mng | FOM | 70992 | 0.12 | 0.03 | 0.09 | +350.0 |
| G4G Res | GXG | 1398 | 0.29 | 0.19 | 0.28 | + 55.5 |
| Cash Minerals | CHX | 8606 | 0.04 | 0.03 | 0.03 | + 50.0 |
| BacTech Mining | BM | 1488 | 0.06 | 0.05 | 0.06 | + 50.0 |
| Westcan Uran | WCU | 171 | 0.16 | 0.01 | 0.16 | + 45.4 |
| Cloudbreak Res | CDB | 693 | 0.25 | 0.13 | 0.20 | + 42.8 |
| Excel Gold Mng | EGM | 3348 | 0.07 | 0.04 | 0.07 | + 40.0 |
| SGX Res | SXR | 120 | 0.50 | 0.25 | 0.35 | + 40.0 |
| AMI Res | AMU | 53 | 0.14 | 0.10 | 0.14 | + 40.0 |
| StoneShield Ca | STS | 562 | 0.18 | 0.13 | 0.15 | + 36.3 |
| Caribou Copper | CKR | 58 | 0.15 | 0.06 | 0.06 | -40.0 |
| Dalton Res Ltd | DAL | 17 | 0.10 | 0.10 | 0.10 | -37.5 |
| Golconda Res | GA | 82 | 0.09 | 0.05 | 0.05 | -37.5 |
| Silver Fields | SF | 200 | 0.17 | 0.01 | 0.14 | -33.3 |
| Proam Expl | PMX | 44 | 0.17 | 0.08 | 0.08 | -33.3 |
| Universal Uran | UUL | 829 | 0.08 | 0.05 | 0.06 | -33.3 |
| Dianor Res | DOR | 5532 | 0.12 | 0.08 | 0.08 | -33.3 |
| Altoro Gold | ATG | 437 | 0.24 | 0.17 | 0.17 | -32.0 |
| Savant Expl | SVT | 237 | 0.12 | 0.08 | 0.09 | -30.7 |
| Wolverine Mnls | WLV | 20 | 0.20 | 0.14 | 0.14 | -30.0 |
| TSX-V greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| San Gold Res | SGR | 8067387 | 4.54 | + 0.17 |
| Centurion Mnls | CTN | 742556 | 1.70 | + 0.14 |
| Brazauro Res | BZO | 567553 | 0.64 | + 0.13 |
| Titanium Corp | TIC | 88188 | 1.22 | + 0.12 |
| G4G Res | GXG | 1397750 | 0.28 | + 0.10 |
| Minaurum Gold | MGG | 390390 | 0.85 | + 0.10 |
| SGX Res | SXR | 119510 | 0.35 | + 0.10 |
| AfricanAuraM | AUR | 27982 | 1.19 | + 0.09 |
| Dagilev Capitl | DCC | 394730 | 0.95 | + 0.09 |
| Lithium One | LI | 995730 | 1.63 | + 0.09 |
| Pac Booker Min | BKM | 17068 | 8.00 | -0.53 |
| Clifton Star | CFO | 511153 | 4.90 | -0.46 |
| Quest Rare Mnl | QRM | 360442 | 3.08 | -0.43 |
| Antares Minls | ANM | 845221 | 2.60 | -0.38 |
| Bear Creek Mng | BCM | 685078 | 4.80 | -0.33 |
| Chesapeake Gld | CKG | 59560 | 8.81 | -0.33 |
| Macarthur Mnl | MMS | 36000 | 1.48 | -0.26 |
| Hana Mng | HMG | 2138927 | 1.90 | -0.25 |
| Alderon Res | ADV | 199315 | 1.80 | -0.24 |
| Mirasol Res | MRZ | 417214 | 1.70 | -0.24 |
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