A week of gains lifted the S&P TSX Venture composite index back close to 1,500 over the Feb. 9-12 trading period. Over the week, which was shortened by the Family Day holiday in Ontario, the board gained 38.15 points to close at 1,498.75. Daily trading volumes were down slightly from recent highs, averaging 94.8 million.
The rising market tide helped put bulls ahead of bears: 42 Venture-listed companies reached new 52-week share price highs over the week while 31 fell to new lows.
Riverstone Resources’ share price has climbed in recent weeks, reaching 70¢ in the second week of February from a low of 19.5¢ in January. The company holds six early-stage gold projects in Burkina Faso; its most advanced project, the Karma project, is home to 21.4 million indicated tonnes grading 1.2 grams gold, plus 12.2 million inferred tonnes averaging 0.82 gram gold. Riverstone recently completed a sampling program at the new Nami breccia-hosted gold prospect at Karma and is awaiting results.
An investment framework agreement with Goldcorp lifted Quaterra Resources’ share price 39¢ or 28% over the week to reach $1.80. Goldcorp is investing $10 million in Quaterra to fund exploration efforts in 12 properties covering 2,460-sq. km in central Mexico. In exchange, Goldcorp will have the right to acquire an interest in any of those properties. The agreement does not include Quaterra’s Nieves project.
Despite releasing promising initial drill results from its Condor gold project in northern Peru, Dorato Resources fell 20¢ over the week to close at 85¢. The company’s first drill effort at Condor probed the Taricori zone, where artisanal miners have tapped into structurally-controlled gold-bearing veins, and the work returned such intercepts as 32.2 metres grading 1.03 grams gold and 4 metres of 2.22 grams gold.
The week’s volume leader was First Gold Exploration, which was still attracting interest for its drill results from the week prior. The company is exploring the Lac Pivert-Rose property in Quebec and are returning promising results, such as 12.1 metres grading 1.46% Li2O, 3.257 grams rubidium per tonne, 228 grams Ta2O5 per tonne, and 132 grams beryllium per tonne. First Gold moved 11.8 million shares to end the week down 4¢ at 42.5¢.
A merger agreement with Nayarit Gold has Capital Gold set to grow into a Mexicofocused gold company. Capital owns the El Chanate open-pit, heap leach gold mine in Sonora state, which produces 60,000 oz. gold annually. Nayarit brings to the company its Animas-Del Norte gold project in Nayarit state, which recently produced a positive preliminary economic assessment. In the merger investors will receive 0.134 Capital Gold shares for each Nayarit share held.
And Andina Minerals continues to pull long mineralized intercepts from its Dorado deposit, part of the Volcan gold project in Chile. An infill program at Dorado is defining higher grade zones within the deposit; the longest intercept returned 450 metres grading 0.85 gram gold, starting at surface.
| TSX-V most active issues | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| First Gold Exp | EFG | 11776 | 0.47 | 0.37 | 0.43 | -0.03 |
| Victoria Gold | VIT | 11518 | 1.13 | 0.84 | 0.98 | + 0.11 |
| Soho Res | SOH | 11105 | 0.10 | 0.07 | 0.09 | + 0.01 |
| Appleton Expl | AEX | 9438 | 0.22 | 0.17 | 0.17 | -0.02 |
| Iberian Mnls | IZN | 8798 | 0.52 | 0.48 | 0.52 | + 0.04 |
| Arctic Star Di | ADD | 8010 | 0.08 | 0.05 | 0.08 | + 0.01 |
| RomarcoMnrls | R | 7262 | 1.59 | 1.39 | 1.58 | + 0.12 |
| IBC Adv Alloys | IB | 7087 | 0.26 | 0.17 | 0.23 | + 0.04 |
| United Reef | URP | 6946 | 0.06 | 0.04 | 0.06 | + 0.01 |
| Gleichen Res | GRL | 6676 | 1.03 | 0.96 | 1.03 | + 0.05 |
| TSX-V greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Atlantic Ind M | ANL | 10 | 0.10 | 0.10 | 0.10 | +150.0 |
| Solid Res | SRW | 750 | 0.80 | 0.22 | 0.49 | +145.0 |
| Pac Coast Nikl | NKL | 35 | 0.07 | 0.05 | 0.07 | + 75.0 |
| Olivut Res | OLV | 1358 | 0.34 | 0.20 | 0.34 | + 70.0 |
| Cascadero Copp | CCD | 833 | 0.25 | 0.14 | 0.20 | + 66.6 |
| Roxgold | ROG | 798 | 0.05 | 0.03 | 0.05 | + 66.6 |
| Ultra Uranium | ULU | 136 | 0.09 | 0.06 | 0.08 | + 60.0 |
| ESO Uranium | ESO | 196 | 0.08 | 0.05 | 0.06 | + 50.0 |
| Rugby Mng | RUG | 23 | 0.60 | 0.49 | 0.60 | + 46.3 |
| Canadn Orebods | CO | 670 | 0.10 | 0.07 | 0.10 | + 42.8 |
| Augen Capital | AUG | 12 | 0.06 | 0.06 | 0.06 | -33.3 |
| Max Res | MXR | 332 | 0.36 | 0.23 | 0.24 | -31.4 |
| Ross River Mnl | RRM | 343 | 0.05 | 0.05 | 0.05 | -28.5 |
| Aroway Mnls | ARW | 16 | 0.21 | 0.19 | 0.19 | -26.9 |
| Augyva Mng | AUV | 274 | 0.16 | 0.09 | 0.12 | -25.0 |
| Aguila Am Res | AGL | 40 | 0.06 | 0.06 | 0.06 | -25.0 |
| Menika Mining | MML | 100 | 0.03 | 0.03 | 0.03 | -25.0 |
| Star Uranium | SUV | 279 | 0.08 | 0.06 | 0.07 | -22.2 |
| Sienna Gold | SGP | 165 | 0.18 | 0.14 | 0.14 | -22.2 |
| Infinito Gold | IG | 61 | 0.28 | 0.22 | 0.22 | -21.4 |
| TSX-V greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| Mirasol Res | MRZ | 764135 | 2.87 | + 0.55 |
| Tsodilo Res | TSD | 297331 | 2.28 | + 0.43 |
| Quaterra Res | QTA | 1.80 | + 0.39 | |
| Universal Powr | UNX | 2027547 | 1.36 | + 0.36 |
| Solid Res | SRW | 750435 | 0.49 | + 0.29 |
| Chesapeake Gld | CKG | 112322 | 8.72 | + 0.26 |
| Clifton Star | CFO | 618426 | 5.95 | + 0.25 |
| Maudore Minls | MAO | 48706 | 3.64 | + 0.24 |
| San Gold Res | SGR | 2711177 | 3.68 | + 0.20 |
| Bear Creek Mng | BCM | 401455 | 3.75 | + 0.20 |
| Pac Booker Min | BKM | 21365 | 5.90 | -0.80 |
| Dorato Res | DRI | 2552238 | 0.85 | -0.20 |
| Canadn Shield | EXP | 25830 | 1.25 | -0.20 |
| Aldridge Minls | AGM | 54000 | 1.00 | -0.20 |
| Midland Expl | MD | 49470 | 1.30 | -0.15 |
| Max Res | MXR | 332216 | 0.24 | -0.11 |
| Bralorne Gold | BPM | 90752 | 0.85 | -0.11 |
| Tasman Metals | TSM | 23491 | 0.62 | -0.08 |
| RareElemntRs | RES | 274729 | 3.36 | -0.07 |
| Aroway Mnls | ARW | 16100 | 0.19 | -0.07 |
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