With gold pulling back off new record highs, the S&P-TSX Venture Composite Index eked out a very modest 9.93-point gain over the Jan. 29-Feb. 4 trading session — closing at 2,567.73 on an average daily trading volume of 81.6 million shares.
The junior mining market continued to look bearish, with only eight explorers able to post new 52-week share price highs against 172 that slipped to new annual lows.
Shares ofSnowfield Developmentsoared 33% on market-leading volume of 14.3 million to close the week up a dime at 40 apiece. With no news other than a modest $525,000 planned financing, the company recently began a drill program at its Ticho diamond project, southeast of Yellowknife, in the Northwest Territories.
Carmax Explorations posted trading volume of more than 12.2 million shares on the session, inching up a penny to 12 per share. Additional drilling at its Eaglehead property in northern B.C.’s Quesnel Trough recently returned further copper-mineralized intervals in the porphyry system, plus molybdenum, gold and silver.
Lateegra Gold saw a 4 gain on the week, closing at 18 per share on 8.4 million shares traded. The junior is partnered with MPH Ventures on the M-10 concession in Ecuador and recently divested its interest in the Picacho project in Mexico.
Wide, high-grade lead-zinc intercepts from its Pine Point project in the Northwest Territories propelled Tamerlane Ventures to an 81% gain for the week. The junior’s stock closed up 38 at 85 per share on nearly 8.4 million shares traded. Drilling cut 32 metres of 23.9% zinc and 6.2% lead, including 19.8 metres of 33.2% zinc and 8.2% lead in the Z155 zone on the past-producing property.
GGL Diamond posted a 4 gain to close the week at 23 on trading volume of 8.2 million shares. The company is exploring diamond, gold and nickel projects in the Northwest Territories.
Tirex Resources closed the trading session up almost a dollar at $3.23 on more than 1.4 million shares of volume. The company recently began a drill program on its Mirdita
project in Albania, which covers part of a historic VMS base metal district.
Shares of Xemplar Energy continued to slide, closing the week down $1.75 at $3.95 apiece on trading volume of almost 7.2 million. Recent drilling on uranium-mineralized granites at its Warmbad project, in Namibia, returned low-grade U3O8 values. The junior saw its share price soar to as high as $8.50 late
last year on rumours of a possible takeover by mining giant Rio Tinto, or others.
Kaminak Gold posted a 52% gain over the session — closing up 21 at 60 per share on 1.3 million shares traded. The junior signed a land deal with Inuit corporation Nunavut Tunngavik and acquired a uranium deposit with historic resources of as much as 20 million contained pounds U3O8.
TSX- V most active issues | ||||||
VOLUME | WEEK | |||||
( 000s) | HIGH | LOW | CLOSE | CHANGE | ||
Snowfield Res | SNO | 14313 | 0.52 | 0.31 | 0.40 | + 0.10 |
Carmax Expl | CMX | 12268 | 0.15 | 0.105 | 0.12 | + 0.01 |
KWG Res | KWG | 9789 | 0.105 | 0.08 | 0.10 | 0.00 |
Lateegra Gold | LRG | 8431 | 0.27 | 0.13 | 0.18 | + 0.04 |
Tamerlane Vent | TAM | 8349 | 1.09 | 0.45 | 0.85 | + 0.38 |
GGL Diamond | GGL | 8246 | 0.23 | 0.18 | 0.23 | + 0.04 |
Gravity West | GRW | 7620 | 0.12 | 0.10 | 0.105 | – 0.01 |
VMS Vent | VMS | 7583 | 0.90 | 0.65 | 0.71 | – 0.08 |
Western Keltic | WKM | 7235 | 0.44 | 0.35 | 0.375 | + 0.035 |
Xemplar Energy | XE | 7185 | 5.68 | 3.56 | 3.95 | – 1.75 |
TSX- V greatest percentage change | ||||||
VOLUME | WEEK | |||||
( 000s) | HIGH | LOW | CLOSE | CHANGE | ||
Tamerlane Vent | TAM | 8349 | 1.09 | 0.45 | 0.85 | + 80.8 |
Mexican Silver | MSM | 426 | 0.79 | 0.485 | 0.70 | + 70.7 |
Athabasca Mnls | ABM | 279 | 0.49 | 0.25 | 0.49 | + 63.3 |
Karmin Expl | KAR | 38 | 1.24 | 0.75 | 1.24 | + 61.0 |
Gee- Ten Vent | GTV | 232 | 0.075 | 0.05 | 0.07 | + 55.5 |
Terra Nova Gld | TGC | 15 | 0.125 | 0.08 | 0.115 | + 53.3 |
Rodinia Minls | RM | 243 | 0.49 | 0.33 | 0.49 | + 53.1 |
Kaminak Gold | KAM | 1340 | 0.72 | 0.395 | 0.60 | + 51.9 |
Q- Gold Res | QAU | 198 | 0.13 | 0.08 | 0.09 | + 50.0 |
Explor Res | EXS | 1904 | 0.34 | 0.225 | 0.32 | + 45.4 |
Mountain- Wst R | MWR | 37 | 0.39 | 0.20 | 0.25 | – 40.4 |
Island Arc Exp | IAX | 37 | 0.17 | 0.15 | 0.15 | – 40.0 |
Iciena Vent | IIE | 193 | 0.055 | 0.03 | 0.03 | – 40.0 |
Chilean Gold | CHN | 53 | 0.54 | 0.38 | 0.38 | – 38.7 |
Gold World Res | GDW | 37 | 0.055 | 0.055 | 0.055 | – 35.2 |
Silvermet | SYI | 104 | 0.19 | 0.16 | 0.16 | – 33.3 |
Micrex Devel | MIX | 35 | 0.28 | 0.185 | 0.185 | – 32.7 |
Inter- Rock Mnl | IRO | 1384 | 0.15 | 0.135 | 0.135 | – 32.5 |
Starfire Mnrls | SFR | 455 | 0.15 | 0.12 | 0.12 | – 31.4 |
Regent Vents | REV | 381 | 0.08 | 0.045 | 0.045 | – 30.7 |
TSX- V greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
Tirex Res | TXX | 1460406 | 3.23 | + 0.99 |
Pan Oce Exp | POE | 597846 | 12.71 | + 0.97 |
SouthGobi Engy | SGQ | 129706 | 9.95 | + 0.55 |
Eurasian Minls | EMX | 1481529 | 2.15 | + 0.55 | Copper Mtn Mng | CUM | 314729 | 2.11 | + 0.51 |
Digger Res | DIG | 17415 | 2.25 | + 0.50 |
Evolving Gold | EVG | 1974215 | 1.55 | + 0.48 |
Karmin Expl | KAR | 38000 | 1.24 | + 0.47 |
Quaterra Res | QTA | 582359 | 3.80 | + 0.46 |
Canplats Res | CPQ | 1677307 | 2.73 | + 0.43 |
Seabridge Gold | SEA | 71369 | 23.07 | – 3.43 |
Xemplar Energy | XE | 7185178 | 3.95 | – 1.75 |
Azimut Expl | AZM | 219121 | 2.60 | – 0.45 |
Bear Creek Mng | BCM | 557099 | 7.60 | – 0.44 |
Exeter Res | XRC | 141240 | 4.05 | – 0.40 |
Antares Minls | ANM | 98200 | 3.15 | – 0.35 |
Anglo Mnrls | ALM | 404275 | 4.64 | – 0.31 |
Condor Res | CN | 638768 | 1.15 | – 0.29 |
Mansfld Mnrls | MDR | 461366 | 3.01 | – 0.29 |
Salazar Res | SRL | 81348 | 1.51 | – 0.29 |
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