With talk of record high debt levels for Canadians and fraud charges against Goldman Sachs pitted against news of 11% growth in China last quarter, the S&P/TSX Venture composite index was mixed over the April 13-19 trading week, with early gains more than offset by late losses. The board closed the week down 19.71 points at 1653.96. Daily trading volumes remained high, averaging 123 million.
Despite an overall loss, 72 Venture-listed companies reached new 52-week highs over the week while 64 fell to new lows.
Avion Gold was the week’s volume leader, trading more than 25 million shares to climb 4¢ to 74¢. At its Tabakoto project in Mali, the junior is probing for additional mineralization along two parallel trends striking southwest from its two producing open pits and the effort has recently returned such grades as 12 metres of 14.86 grams gold per tonne and 14 metres of 21.77 grams gold. Avion also announced a brokered $25-million financing.
A high-grade gold hit at the Haile gold mine project in South Carolina and a $120-million financing propelled Romarco Minerals’ share price up 12¢ to close the week at $2.05. Romarco is testing the Horseshoe zone, a new area of mineralization discovered earlier in the year through condemnation drilling, and recently hit 1.5 metres carrying 929 grams gold at 148 metres depth.
Esperanza Silver hit a new share price high on the back of drill results from its Cerro Jumil gold project in Morelos state, Mexico. Drills are working to update the current resource at Cerro Jumil and have returned such intercepts as 93 metres of 1.81 grams gold from 55 metres depth and 24 metres of 2.04 grams gold from 39 metres downhole. Last year a preliminary economic assessment of the deposit determined that a US$72.2-million investment could support development of a mine producing 52,000 oz. gold annually for 7.6 years, at a cash cost of US$418 per oz.
News of a 157-metre intercept grading 3.94 grams gold did nothing for Victoria Gold’s share price, which finished the week down a penny at 89¢. The company is exploring the Santa Fe project in Nevada, a past-producing site within the prolific Walker Lane trend, and has focused of late on understanding the local postmineral faulting and its relationship to mineralization.
Calypso Uranium doubled its share price, adding 13¢ to reach 26¢ before settling to 22.5¢, after announcing a deal with Cameco to explore and potentially develop Calypso’s Argentinean projects. The letter of intent outlines a deal where Cameco can earn 51% of Calypso’s Argentinean subsidiary by investing $10 million in exploration over four years, of which the first $2.5 million is a firm commitment.
And a ruling from the Costa Rican Supreme Court allowing Infinito Gold to resume development of its Crucitas gold mine immediately added 15¢ to the company’s share price, lifting it to 40¢. Work at Crucitas has been suspended since late 2008 when environmental groups challenged the validity of Infinito’s development permits.
TSX-V most active issues | |||||
VOLUME | WEEK | ||||
(000s) | HIGH | LOW | CLOSE | CHANGE | |
Avion Res AVR | 25302 | 0.83 | 0.67 | 0.74 | + 0.04 |
RomarcoMnrlsR | 19300 | 2.09 | 1.85 | 2.05 | +0.12 |
Medoro Res MRS | 17839 | 0.70 | 0.58 | 0.62 | -0.05 |
Logan Res LGR | 13384 | 0.10 | 0.05 | 0.09 | + 0.04 |
Skyline Gold SK | 12552 | 0.17 | 0.10 | 0.12 | -0.02 |
Spider Res SPQ | 12547 | 0.14 | 0.12 | 0.13 | + 0.01 |
Great Western GWG | 12322 | 0.22 | 0.17 | 0.20 | + 0.02 |
First Point FPX | 11718 | 1.08 | 0.68 | 0.88 | + 0.17 |
Majestic Gold MJS | 11713 | 0.19 | 0.12 | 0.16 | -0.07 |
Manicouagan MlMAM | 10216 | 0.08 | 0.05 | 0.06 | 0.00 |
TSX-V greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Global Uran | GU | 733 | 0.59 | 0.24 | 0.57 | +185.0 |
Tiex | TIX | 10 | 0.09 | 0.09 | 0.09 | +125.0 |
Logan Res | LGR | 13384 | 0.10 | 0.05 | 0.09 | + 80.0 |
Calypso Uran | CLP | 4423 | 0.27 | 0.18 | 0.22 | + 69.2 |
Mainstream Mnl | MJO | 901 | 0.11 | 0.06 | 0.10 | + 66.6 |
Merit Mng | MEM | 102 | 1.20 | 0.70 | 1.20 | + 66.6 |
Aldershot Res | ALZ | 5472 | 0.08 | 0.03 | 0.05 | + 66.6 |
IC Potash | ICP | 4349 | 0.62 | 0.35 | 0.60 | + 62.1 |
Infinito Gold | IG | 1620 | 0.47 | 0.23 | 0.41 | + 57.6 |
Diadem Res | DRL | 2321 | 0.28 | 0.14 | 0.22 | + 57.1 |
Pinnacle Mines | PNL | 2900 | 0.22 | 0.14 | 0.14 | -39.1 |
Berkley Res | BKS | 948 | 0.08 | 0.05 | 0.05 | -37.5 |
Woulfe Mng | WOF | 1297 | 0.19 | 0.14 | 0.14 | -36.3 |
Radar Acquistn | RAC | 2980 | 0.14 | 0.09 | 0.09 | -35.7 |
Northern Plat | NTH | 34 | 0.48 | 0.30 | 0.32 | -34.6 |
Module Res | MLE | 314 | 0.08 | 0.06 | 0.06 | -33.3 |
Majestic Gold | MJS | 11713 | 0.19 | 0.12 | 0.16 | -30.4 |
Mala Noche Res | MLA | 712 | 0.24 | 0.15 | 0.17 | -29.1 |
Mineral Hill | MHI | 1575 | 0.06 | 0.05 | 0.05 | -28.5 |
Diamcor Mng | DMI | 28 | 0.35 | 0.31 | 0.31 | -27.9 |
TSX-V greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
Pac Booker Min | BKM | 57156 | 9.85 | + 0.90 |
Chesapeake Gld | CKG | 133390 | 8.45 | + 0.64 |
Merit Mng | MEM | 101548 | 1.20 | + 0.48 |
Global Uran | GU | 733003 | 0.57 | + 0.37 |
Hana Mng | HMG | 7128235 | 2.32 | + 0.30 |
IC Potash | ICP | 4348896 | 0.60 | + 0.23 |
First Point | FPX | 11717696 | 0.88 | + 0.17 |
Manitou Gold | MTU | 55600 | 0.51 | + 0.15 |
Infinito Gold | IG | 1620100 | 0.41 | + 0.15 |
Lovitt Res | LRC | 91300 | 0.72 | + 0.14 |
Clifton Star | CFO | 307297 | 5.69 | -0.50 |
Macarthur Mnl | MMS | 137375 | 1.61 | -0.47 |
Alderon Res | ADV | 122770 | 2.15 | -0.44 |
Quest Uranium | QUC | 1273260 | 3.30 | -0.38 |
Amazon Mng | AMZ | 373330 | 1.81 | -0.28 |
RareElemntRs | RES | 571988 | 3.28 | -0.22 |
Noront Res | NOT | 1763681 | 1.59 | -0.21 |
Zimtu Capital | ZC | 14721 | 1.41 | -0.18 |
Northern Plat | NTH | 34000 | 0.32 | -0.17 |
Andina Mnls | ADM | 823345 | 1.19 | -0.17 |
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