As banking woes and automaker bailouts continued to heap uncertainty on the world economy over the March 24-30 reporting period, the S&P/TSX Venture composite index saw another week of small gains moderated by losses. The index finished the week up 21.17 points at 945.2 points and daily trading volumes averaged 63.4 million.
Seven Venture-listed companies attained new share price highs over the trading week, while 69 juniors fell to new share price lows.
A takeover agreement from Hong Konglisted CNNC International propelled Western Prospector Group to top-trader status. CNNC is paying 56¢ per share, valuing the junior at $31 million. On news of the deal, investors moved 13.5 million Western Prospector shares, which gained 15¢ to close at 53¢.
Dynamite Resources also had a good week stemming from takeover talk. In mid-March, Avion Resources signed on to acquire Dynamite in an all-share deal that allows the companies to consolidate their holdings in the Tabakoto-Segala gold mine in Africa. Dynamite gained 9¢ to reach 24¢.
American Creek Resources reached a new share price high on news of an updated resource for Seabridge Gold’s KSM gold-copper project. To develop KSM, Seabridge has proposed building a 21.5-km underground tunnel from the deposit, which is south of American Creek’s Treaty property, to a facility site north of Treaty. Some 13 km of the tunnel would pass through American Creek’s land, intersecting multiple mineralized zones. The junior gained 18¢ on the news to reach 31¢.
An updated reserve and resource estimate for the Haile gold project in South Carolina also lifted Romarco Minerals to a new share price high. Haile now hosts 27.8 million measured and indicated tonnes grading 1.81 grams gold per tonne, plus 57.5 million inferred tonnes averaging 0.89 gram gold. Romarco gained 14¢ to close the week at 53¢.
An initial inferred resource adding up to 8.7 million oz. gold and 2 billion lbs. copper for the Caspiche project in Chile lifted Exeter Resource’s share price 63¢ to $3.91.
The calculation came just ahead of some significant drill results, such as 1,214 metres grading 0.9 gram gold, and the company is still drilling, so an updated estimate is expected in September.
Without releasing any news, Chesapeake Gold’s share price jumped considerably over the week, closing up $1.19 at $5.29. Similarly, Pacific Booker Minerals gained 50¢ on no news to close at $6.30. On the other end of market swings, Midway Gold stayed quiet but lost 22¢ to close at 56¢.
Patience does not seem to be a virtue for Hathor Exploration investors, who pummelled Hathor’s share price down 36¢ to $2 over the week. The junior is currently drilling its Roughrider uranium discovery in Saskatchewan and 10 drill holes are in the lab for assay. Expectations are high because the zone produced some spectacular results last year, such as 23 metres of 11.23% U3O8 and 46 metres of 3.25% U3O8.
| TSX-V most active issues | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Western Prospc | WNP | 13519 | 0.55 | 0.37 | 0.53 | + 0.15 |
| SilverstoneRs | SST | 8516 | 1.94 | 1.73 | 1.81 | + 0.01 |
| Yankee Hat Ind | KHT | 8129 | 0.05 | 0.03 | 0.04 | -0.01 |
| Century Mining | CMM | 6321 | 0.15 | 0.09 | 0.13 | + 0.01 |
| Dynamite Res | DNR | 6231 | 0.25 | 0.14 | 0.24 | + 0.09 |
| San Gold Res | SGR | 5406 | 1.96 | 1.68 | 1.80 | + 0.07 |
| North Am Gem | NAG | 4976 | 0.09 | 0.07 | 0.08 | 0.00 |
| Probe Res | PBR | 4272 | 0.14 | 0.09 | 0.11 | -0.01 |
| Searchgold Res | RSG | 4022 | 0.05 | 0.03 | 0.03 | 0.00 |
| Buffalo Gold | BUF | 3909 | 0.02 | 0.01 | 0.01 | 0.00 |
| TSX-V greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Portal Res | PDO | 21 | 0.09 | 0.06 | 0.06 | +500.0 |
| Intl Millm Mng | IMI | 17 | 0.07 | 0.04 | 0.04 | +300.0 |
| Lorraine Coppr | LLC | 16 | 0.05 | 0.04 | 0.05 | +150.0 |
| Bonanza Res | BRS | 24 | 0.05 | 0.05 | 0.05 | +150.0 |
| Jazz Res | JZR | 15 | 0.32 | 0.32 | 0.32 | +146.1 |
| Am Creek Res | AMK | 1726 | 0.35 | 0.12 | 0.31 | +138.4 |
| Medoro Res | MRS | 50 | 0.14 | 0.09 | 0.14 | +133.3 |
| Blackstone Res | BLV | 347 | 0.09 | 0.05 | 0.09 | +125.0 |
| Dundarave Res | DDX | 109 | 0.51 | 0.30 | 0.51 | +112.5 |
| Grenville Gold | GVG | 745 | 0.08 | 0.05 | 0.06 | +100.0 |
| Valencia Vent | VVI | 101 | 0.04 | 0.01 | 0.01 | -92.3 |
| Adroit Res | ADT | 243 | 0.08 | 0.04 | 0.06 | -57.1 |
| Intl Chalice R | IRI | 20 | 0.01 | 0.01 | 0.01 | -50.0 |
| Lomiko Res | LMR | 219 | 0.03 | 0.01 | 0.01 | -50.0 |
| Luzon Minls | LZN | 18 | 0.01 | 0.01 | 0.01 | -50.0 |
| Mineral Hill | MHI | 100 | 0.04 | 0.04 | 0.04 | -50.0 |
| Northern Lion | NL | 10 | 0.05 | 0.03 | 0.03 | -50.0 |
| Pencari Mng | PMC | 146 | 0.14 | 0.06 | 0.06 | -50.0 |
| ICS Copper Sys | ICX | 43 | 0.02 | 0.01 | 0.01 | -50.0 |
| Pac Bay Mnrls | PBM | 36 | 0.05 | 0.03 | 0.03 | -50.0 |
| TSX-V greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| Chesapeake Gld | CKG | 231584 | 5.2 9 |
+ 1.19 |
| Exeter Res | XRC | 871633 | 3.91 | + 0.63 |
| Pac Booker Min | BKM | 17800 | 6.30 | + 0.50 |
| Dundarave Res | DDX | 108525 | 0.51 | + 0.27 |
| Louvem Mines | LOV | 270300 | 1.40 | + 0.25 |
| Orko Silver | OK | 3516243 | 1.03 | + 0.23 |
| Energold Drill | EGD | 1701495 | 1.20 | + 0.20 |
| Anooraq Res | ARQ | 217900 | 0.82 | + 0.20 |
| Jazz Res | JZR | 15000 | 0.32 | + 0.19 |
| Am Creek Res | AMK | 1726350 | 0.31 | + 0.18 |
| Hathor Expl | HAT | 2606017 | 2.00 | -0.36 |
| Midway Gold | MDW | 14750 | 0.56 | -0.22 |
| Bear Creek Mng | BCM | 142332 | 1.55 | -0.20 |
| Quaterra Res | QTA | 39734 | 0.68 | -0.15 |
| East Asia Mnls | EAS | 156000 | 0.45 | -0.14 |
| Noront Res | NOT | 1111299 | 0.72 | -0.12 |
| Valencia Vent | VVI | 101460 | 0.01 | -0.12 |
| Eurasian Minls | EMX | 37450 | 0.98 | -0.10 |
| Abbastar Uran | ABA | 137500 | 0.20 | -0.10 |
| Goldsource Min | GXS | 2021834 | 2.26 | -0.09 |
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