TSX VENTURE EXCHANGE JULY 19-23

The S&P/TSX Venture composite index managed four days of straight gains following an early week dip to close up 15.49 points at 1,394.98. Daily trading volumes increased for another week, averaging 95.3 million.

Despite the overall gain, the market is still decidedly bearish: 18 juniors hit new highs while 230 fell to new lows.

North Country Gold’s share price shot up 11.5¢ or 45.1% to close at 37¢, following some impressive initial drill results from its Three Bluffs gold project in Nunavut. The company went public in April and has since been busy drilling on its 2,256-sq.-km land package, 300 km northeast of Baker Lake. The best drill result to date from Three Bluffs is 42.1 metres grading 5.88 grams gold per tonne from 7 metres depth.

Rare earth element-based companies Rare Element Resources and Quest Rare Minerals both saw the biggest share price gains a week after China announced measures to restrict the supply of rare earth elements. On no news released by the companies, Rare Element Resources shares climbed 66¢ or 27.4% to $3.07 and Quest Rare Minerals shares rose 57¢ or 27.4% to $2.69.

Antares Minerals saw strong gains following the release of a preliminary economic assessment (PEA) for its Haquira copper-molybdenum-gold project in southern Peru. The PEA outlined a mine with a net present value of US$1.07 billion, producing 4.25 million lbs. copper, 5 million lbs. moly and 27,000 oz. gold a year for 20 years. The 130,000-tonnes-per-day operation has an after-tax internal rate of return of 16.4% using a long-term copper price of US$2.25 per lb. and a discount rate of 8%. Shares were up 30¢ to $2.59.

Creso Exploration continued to see significant stock activity and price swings as the company released preliminary results from its Minto gold project in Ontario. It shares gained 9¢ or 20.4% to close at 58¢, on 9.1 million trades. The company, which changed its name from Willowstar Capital in June, has extended two holes on its property. The extension of hole 2, which earlier hit 65.7 metres of 18.2 grams gold and 79.6 metres of 4.61 grams gold, hit a further 7.6 metres grading 5.82 grams gold at 423 metres depth; the extension of hole 1 still awaits assaying.

The first three reported holes in a 10,000-metre drill program helped propel Premium Exploration’s shares up 12.5¢ or 38.5% to 45¢. The company is working through a drill program on its Friday-Petsite gold project in central Idaho, with the latest results extending the strike length by 200 metres in the Lower Block. Drill results included 203 metres grading 0.98 gram gold from surface, 275 metres carrying 1.84 grams gold from 14.6 metres and 157.9 metres of 2.23 grams gold from 221 metres depth.

TSX-V most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Terrane Metals TRX 63420 1.38 1.33 1.38 + 0.03
Sidon Intl Res SD 20321 0.16 0.09 0.12 + 0.02
KWG Res KWG 16262 0.13 0.10 0.13 + 0.01
Cons Spire Vnt CZS 15269 0.05 0.02 0.05 + 0.01
AdmiralBayRs ADB 14783 0.03 0.01 0.02 +0.01
Canaco Res CAN 11105 1.74 1.48 1.66 + 0.10
ChrisJamesGl CJG 9123 0.09 0.05 0.08 +0.01
Creso Expl CXT 9066 0.62 0.44 0.58 + 0.08
Canadn Arrow CRO 8031 0.04 0.03 0.04 0.00
Ashburton Vent ABR 6499 0.09 0.07 0.09 + 0.01
TSX-V greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Admiral Bay Rs ADB 14783 0.03 0.01 0.02 + 100.0
Bison Gold Res BGE 1635 0.17 0.10 0.14 + 75.0
Metropolitn Mg MNZ 274 0.15 0.13 0.15 + 66.6
Avanti Mng AVT 5817 0.16 0.09 0.16 + 60.0
Mainstream Mnl MJO 206 0.08 0.06 0.08 + 60.0
Gold Summit GSM 123 0.11 0.09 0.11 + 57.1
Tournigan Engy TVC 1468 0.19 0.10 0.17 + 54.5
Taku Gold TAK 1542 0.33 0.20 0.32 + 52.3
Eureka Res EUK 22 0.09 0.09 0.09 + 50.0
Augen Capital AUG 179 0.06 0.04 0.06 + 50.0
Mazorro Res MZO 420 0.10 0.08 0.08 -46.6
Star Uranium SUV 22 0.04 0.03 0.03 -40.0
Silver Spruce SSE 1811 0.05 0.04 0.04 -33.3
Savant Expl SVT 259 0.09 0.06 0.06 -33.3
Mesa Uran MSA 51 0.28 0.18 0.23 -32.3
Intl Northair INM 345 0.08 0.06 0.07 -30.0
Tumi Res TM 31 0.13 0.10 0.10 -28.5
Killdeer Mnls KMI 107 0.14 0.10 0.10 -28.5
Knick Expl KNX 15 0.22 0.20 0.22 -26.6
Galantas Gold GAL 1343 0.04 0.03 0.03 -25.0
TSX-V greatest value change
WEEK
VOLUME CLOSE CHANGE
RareElemntRs RES 701099 3.07 + 0.66
Quest Rare Mnl QRM 739271 2.69 + 0.57
Clifton Star CFO 783514 4.11 + 0.46
Antares Minls ANM 502878 2.59 + 0.30
Hana Mng HMG 341174 1.56 + 0.23
Maudore Minls MAO 49608 3.54 + 0.19
Fission Energy FIS 550968 0.63 + 0.16
Mayen Mnls MYM 58900 0.84 + 0.13
Premium Expl PEM 5928541 0.45 + 0.13
Andean Am Mng AAG 2875884 0.69 + 0.13
Centurion Mnls CTN 304082 1.48 -0.21
Bear Creek Mng BCM 860360 3.60 -0.20
Eurasian Minls EMX 128164 1.70 -0.17
Orko Silver OK 443565 1.33 -0.15
St Elias Mns SLI 467954 1.32 -0.15
Grayd Res GYD 115450 0.79 -0.13
Avino Silver ASM 59000 0.71 -0.11
Mesa Uran MSA 50908 0.23 -0.11
SpanishMtnGd SPA 2043735 0.38 -0.10
Foundation Res FDN 242260 0.32 -0.09
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