A modicum of confidence managed to infiltrate the TSX Venture Exchange during the Dec. 9-15 trading session. The Venture board climbed 18.73 points out of the high 600s to close at 716.81 points. Higher than usual volumes helped it muscle through the week and away from a low not seen in over a decade. Two days during the session broke 100 million shares traded and the average daily volume was a strong 95 million.
Still, many companies reached new lows. The week saw 467 companies scratch bottom while only two, African Queen Mines and Venture board newcomer Pachamama Resources, reached highs.
Exploration results paid off this week. News of the potential for diamonds beneath the sands of Botswana’s Kalahari Desert lifted African Queen’s share price 150% to close up 16¢ at 25¢. Operating in the country’s northwest on an extension of the Archean Congo craton at its Okavango property, African Queen announced it had sampled G10 garnets and other kimberlitic indicators from bull’s-eye targets developed through aeromagnetics. The company says it will start drilling next year.
On the last day of the session, Exeter Resource’s share price got a 32¢ bump to $1.95. Drill results from the Escondida vein on its Cerro Moro property in Argentina excited investors. One hole hit 3 metres grading 72.76 grams gold per tonne and 6,471 grams silver. Exeter says it is set to release a resource estimate in the second quarter of 2009. Overall, the company was up 48¢ during the week.
Likewise, drill results from its Million Mountain property in Guyana buoyed Sacre-Coeur Minerals, lifting it 30¢ to 55¢ per share. Among the highlights was a 309-metre section grading 0.22 gram gold, 0.07% copper, 0.01% molybdenum and 1.3 grams silver in Zone 3. So far, Sacre-Coeur has calculated a resource estimate for Zone 1 of the property that comes in at 12.1 million measured tonnes grading 1 gram gold and 2.2 million indicated tonnes grading 0.9 gram gold.
And International Tower Hill Mines also benefited from drill results. It hit 127 metres grading 1.2 grams gold at its Livengood property in Alaska. That helped Tower Hill gain 21¢ to close at $1.38.
Some other notable movers on the plus side, though without news, were SouthGobi Energy Resources, gaining 39¢ to $5.69, Chesapeake Gold, up 38¢ to $2.95 and Rainy River Resources, adding 33¢ to finish at $1.10.
Of notables on the minus side were: PacificBooker Minerals, down 30¢ to $4; Tatmar Ventures, sinking 23¢ to 20¢; and Northern Platinum, dropping from 50¢ to 17¢. Northern Platinum fell on an announcement that it would try and raise $1.5 million through a non-brokered private placement consisting of 10 million units at 15¢ a unit. Each unit consists of one common share and a purchase warrant for an additional share at 25¢ in the first year and 40¢ in the second.
DECEMBER 9-15
TSX-V most active issues | |||||
VOLUME | WEEK | ||||
(000s) | HIGH | LOW | CLOSE | CHANGE | |
Andina Mnls ADM | 11398 | 0.92 | 0.67 | 0.89 | + 0.22 |
Gold Hawk Res CGK | 8654 | 0.02 | 0.01 | 0.01 | 0.00 |
MBMI Res MBR | 8435 | 0.04 | 0.03 | 0.04 | 0.00 |
Terrane Metals TRX | 7109 | 0.13 | 0.10 | 0.12 | -0.01 |
San Gold Res SGR | 6909 | 1.23 | 0.91 | 1.20 | + 0.25 |
MacDonald Mns BMK | 5910 | 0.06 | 0.03 | 0.06 | + 0.03 |
Normabec Inc NMB | 5630 | 0.06 | 0.03 | 0.06 | + 0.03 |
Axmin Inc AXM | 5397 | 0.07 | 0.04 | 0.06 | + 0.01 |
Dumont Nickel DNI | 4987 | 0.01 | 0.01 | 0.01 | 0.00 |
Tribute Minls TBM | 4793 | 0.01 | 0.01 | 0.01 | 0.00 |
TSX-V greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Aura Silver Rs | AUU | 331 | 0.11 | 0.03 | 0.06 | +200.0 |
Golden Harp | GHR | 39 | 0.12 | 0.07 | 0.11 | +175.0 |
Lund Gold | LGD | 268 | 0.05 | 0.03 | 0.05 | +150.0 |
African Queen | AQ | 1146 | 0.25 | 0.09 | 0.25 | +150.0 |
Hansa Res | HRL | 63 | 0.05 | 0.03 | 0.05 | +150.0 |
Terraco Gold | TEN | 666 | 0.07 | 0.03 | 0.07 | +133.3 |
Pro-Or Mng Res | POI | 487 | 0.21 | 0.10 | 0.20 | +122.2 |
Sacre-Coeur Ml | SCM | 599 | 0.68 | 0.23 | 0.55 | +120.0 |
Barker Mnrls | BML | 570 | 0.03 | 0.01 | 0.02 | +100.0 |
Copper Ridge | KRX | 1089 | 0.02 | 0.01 | 0.02 | +100.0 |
Superior Can R | CAD | 80 | 0.05 | 0.01 | 0.01 | -90.0 |
Diamond Frank | DOD | 14 | 0.10 | 0.04 | 0.05 | -77.2 |
Northrock Res | NRK | 948 | 0.05 | 0.01 | 0.03 | -76.9 |
Island Arc Exp | IAX | 118 | 0.04 | 0.01 | 0.01 | -75.0 |
Lomiko Res | LMR | 265 | 0.05 | 0.01 | 0.01 | -75.0 |
Alder Res | ALR | 24 | 0.06 | 0.05 | 0.06 | -73.9 |
Nevgold Res | NDG | 70 | 0.08 | 0.05 | 0.05 | -68.7 |
Thunder Sword | THU | 38 | 0.10 | 0.03 | 0.03 | -66.6 |
Orsa Vent | ORN | 171 | 0.03 | 0.01 | 0.01 | -66.6 |
Celeste Copper | C | 22 | 0.07 | 0.01 | 0.01 | -66.6 |
TSX-V greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
Exeter Res | XRC | 1306639 | 1.95 | + 0.48 |
SouthGobi Engy | SGQ | 754115 | 5.69 | + 0.39 |
Chesapeake Gld | CKG | 97055 | 2.95 | + 0.38 |
Rainy River Rs | RR | 747951 | 1.10 | + 0.33 |
Pediment Expl | PEZ | 1011464 | 0.78 | + 0.31 |
Sacre-Coeur Ml | SCM | 599021 | 0.55 | + 0.30 |
Bear Creek Mng | BCM | 446165 | 1.20 | + 0.27 |
San Gold Res | SGR | 6908973 | 1.20 | + 0.25 |
Andina Mnls | ADM | 11397782 | 0.89 | + 0.22 |
Intl Tower Hil | ITH | 607839 | 1.38 | + 0.21 |
Northern Plat | NTH | 16000 | 0.17 | -0.33 |
Pac Booker Min | BKM | 24550 | 4.00 | -0.30 |
Tatmar Vent | TAT | 87000 | 0.20 | -0.23 |
Alder Res | ALR | 24000 | 0.06 | -0.17 |
Diamond Frank | DOD | 13871 | 0.05 | -0.17 |
Western Uran | WUC | 441170 | 0.52 | -0.12 |
Nevgold Res | NDG | 70000 | 0.05 | -0.11 |
Belvedere Res | BEL | 1065560 | 0.08 | -0.11 |
Grizzly Diamnd | GZD | 38700 | 0.40 | -0.11 |
Polar Star Mng | POS | 144368 | 0.28 | -0.11 |
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