The S&P/TSX Venture Composite Index jumped 2.4%, or 22.61 points, before closing out the period at 973.58. Precious-metal futures rose, while energy and base-metal prices remained relatively static. Markets were bolstered by strong earnings results from Canadian gold producers, and a report that China’s manufacturing growth hit a seven-month high in October.
Gold futures rallied, with December contracts for bullion jumping 2.7%, or US$35.50, en route to a US$1,350.70 close. Copper futures treaded water, with December contracts for the red metal dropping US2.7¢ en route to a US$3.27 per lb. weekly close.
Explorer Kennady Diamonds was on the rise after news of raising $14 million with two financings. Kennady jumped 43¢ before closing at $5.73 per share.
The company announced a $7-million, non-brokered private placement in early October, but increased the offering twice over the past two weeks. Kennady ended up raising $9 million by issuing 247,100 flow-through shares at $5.50 per share, and 1.6 million non-flow-through shares at $4.75 per share.
Kennady raised another $5 million through a bought-deal private placement wherein underwriters sold 910,000 flow-through shares at $5.50 per share. The underwriters exercised an option to increase the private placement by $1 million.
Montreal-based Arianne Phosphate gained 20¢ during the week on 1.23 million shares traded, after releasing a feasibility study at its Lac à Paul project, north of Saguenay–Lac-Saint-Jean, Que. The company closed at $1.44 per share.
Arianne’s study models an open-pit mine that would annually produce 3 million tonnes of phosphate concentrate at an average grade of 38.6% P2O5. The US$1.2-billion project would run at 55,000 tonnes per day, and features a US$1.9-billion pre-tax net present value at an 8% discount rate, as well as a 20.7% internal rate of return and 4.4-year payback period.
Drill results boosted Mexico-focused explorer Newstrike Capital, which released assays from a program at its Ana Paula gold project in Guerrero state. During weekly trading the company was up 20%, or 16¢, en route to a 97¢-per-share close.
On Oct. 23 Newstrike announced results from hole 13-215, which cut 72 metres grading 3.92 grams gold per tonne from 748 metres downhole, including 39 metres of 6.42 grams gold from 677 metres depth. The hole was drilled north across the plunge of Ana Paula’s breccia zone to test the continuity of the breccia body and associated high-grade mineralization below Newstrike’s existing open-pit resource.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Mindoro Res | MIO | 9761 | 0.03 | 0.02 | 0.03 | 0 | |
| KWG Res | KWG | 7844 | 0.06 | 0.05 | 0.05 | 0 | |
| Selwyn Res | SWN | 7798 | 0.09 | 0.09 | 0.09 | 0 | |
| Bitterroot Res | BTT | 7449 | 0.09 | 0.03 | 0.04 | – | 0.04 |
| Helio Res | HRC | 6228 | 0.12 | 0.05 | 0.1 | + | 0.05 |
| Unigold | UGD | 5674 | 0.09 | 0.06 | 0.09 | + | 0.02 |
| Spanish Mtn Gd | SPA | 5438 | 0.06 | 0.06 | 0.06 | 0 | |
| Auriga Gold | AIA | 4002 | 0.02 | 0.01 | 0.01 | – | 0.01 |
| Azincourt Res | AAZ | 3813 | 0.29 | 0.21 | 0.29 | + | 0.04 |
| Discovery Vent | DVN | 3436 | 0.23 | 0.18 | 0.22 | + | 0.01 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Crazy Horse Rs | CZH | 16 | 0.09 | 0.03 | 0.09 | + | 240 |
| RockBridge Res | RBE | 147 | 0.04 | 0.01 | 0.03 | + | 150 |
| Bonterra Res | BTR | 675 | 0.03 | 0.02 | 0.03 | + | 100 |
| Firestone Vent | FV | 549 | 0.01 | 0.01 | 0.01 | + | 100 |
| AM Gold | AMG | 233 | 0.04 | 0.02 | 0.04 | + | 100 |
| Canadn Arrow | CRO | 1404 | 0.01 | 0.01 | 0.01 | + | 100 |
| Pac Comox Res | PCM | 50 | 0.01 | 0.01 | 0.01 | + | 100 |
| Deer Horn Mtls | DHM | 324 | 0.01 | 0.01 | 0.01 | + | 100 |
| Duncastle Gold | DUN | 440 | 0.03 | 0.03 | 0.03 | + | 100 |
| Stikine Energy | SKY | 777 | 0.02 | 0.01 | 0.01 | + | 100 |
| Adroit Res | ADT | 138 | 0.02 | 0.01 | 0.01 | – | 66.6 |
| Bravada Gold | BVA | 303 | 0.02 | 0.01 | 0.01 | – | 50 |
| Acrex Vent | AKV | 25 | 0.01 | 0.01 | 0.01 | – | 50 |
| Actus Mnls | AAC | 134 | 0.01 | 0.01 | 0.01 | – | 50 |
| Bitterroot Res | BTT | 7449 | 0.09 | 0.03 | 0.04 | – | 50 |
| Canyon Copper | CNC | 100 | 0.01 | 0.01 | 0.01 | – | 50 |
| Decade Res | DEC | 542 | 0.06 | 0.02 | 0.04 | – | 50 |
| Auracle Res | AAL | 166 | 0.01 | 0.01 | 0.01 | – | 50 |
| Cobalt Coal | CCF | 617 | 0.01 | 0.01 | 0.01 | – | 50 |
| Aldershot Res | ALZ | 100 | 0.01 | 0.01 | 0.01 | – | 50 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Lumina Copper | LCC | 164595 | 6.55 | + | 0.61 |
| Kennady Diam | KDI | 20627 | 5.73 | + | 0.43 |
| Barkerville Go | BGM | 3112176 | 0.92 | + | 0.33 |
| Reservoir Mnls | RMC | 379134 | 4.82 | + | 0.25 |
| Bear Creek Mng | BCM | 196680 | 2.7 | + | 0.21 |
| Arianne Phosph | DAN | 1227330 | 1.44 | + | 0.2 |
| Chesapeake Gld | CKG | 49481 | 3.37 | + | 0.19 |
| Athabasca Mnls | ABM | 447569 | 1.47 | + | 0.16 |
| Newstrike Cap | NES | 397596 | 0.97 | + | 0.16 |
| Palladon Vent | PLL | 345844 | 1.17 | + | 0.15 |
| Alpha Mnls | AMW | 221827 | 5.6 | – | 0.27 |
| Teras Res | TRA | 343500 | 0.62 | – | 0.25 |
| Tasman Metals | TSM | 262059 | 0.81 | – | 0.14 |
| Red Eagle Mng | RD | 109990 | 0.26 | – | 0.14 |
| Cayden Res | CYD | 223687 | 1.37 | – | 0.11 |
| Northern Vertx | NEE | 11000 | 0.53 | – | 0.09 |
| Colombian Mins | CMJ | 131100 | 0.26 | – | 0.08 |
| Fission Uran | FCU | 2311520 | 1.04 | – | 0.07 |
| Anfield Nickel | ANF | 59275 | 1.97 | – | 0.07 |
| Golden Reign R | GRR | 207400 | 0.19 | – | 0.07 |
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