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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