TSX Venture Exchange Aug. 29 – Sept. 1

Solid metal prices coupled with further mining mergers continued to buoy the S&P-TSX Venture Composite Index, which gained 68.41 points to close up 2.5% at 2,761.29 over the Aug. 29-Sept. 1 session. Average daily trading volumes remained strong over the Labour Day holiday-shortened week, at 55.4 million.

Market pulse stayed bullish over the period with 38 companies touching new annual highs and 25 explorers sliding to 52-week lows.

Volume frontrunner Plexmar Resources traded 22.3 million shares to close the week up 15 at $1.12. The market is still enamoured with its Bolsa del Diablo gold project in northern Peru and its recent acquisition of the Escondida project across the border in southern Ecuador.

Shares of Searchgold Resources gained 35% to 13.5 apiece on over 12 million shares; the company recently received a second cash payment of $400,000 from African-based mining company Managem for the Bakoudou-Magnima joint venture in Gabon.

Trading 10.8 million shares, Sage Gold closed up 2.5 at 14 over the session. A 60-kg composite sample from the Cane gold zone at its recently optioned Onaman property, in northern Ontario’s Geraldton-Beardmore greenstone belt, returned high-grade silver values in addition to significant gold, lead and zinc assays. In addition, 15 channel samples from the Lynx No. 2 zone returned an average of 5.6% copper and 53 grams silver per tonne over 15 metres of strike and across 2.5 metres of width.

Further high-grade gold intercepts at Mount Kare propelled Madison Minerals to a gain of 117% on the week, closing at $1.17 per share on volume of almost 8.7 million. Drilling by Buffalo Gold on the Papua New Guinea joint-venture project recently returned up to 40 metres of 15.3 grams gold per tonne.

Venezuelan-focused junior gold explorer Truimph Gold saw 8.1 million shares change hands, gaining 4.5 to close at 12. The company reports it is reviewing a recently completed preliminary economic assessment on its Guariche project in Bolivar state.

UrAsia Energy rebounded from a recent decline to close up a quarter at $3.00 per share on trading volume of more than 5 million. With U3O8 production on-stream from its Akdala mine in Kazakhstan, the company was recently listed on the London Stock Exchange’s AIM exchange and has been touted by a well-known newsletter writer.

Discovery of a new gold zone at its Baffin Island project boosted Commander Resources 31% to close at 92 per share on volume of over 4.3 million.

Shares of Anglo-Canadian Uranium gained 21 to close the trading session at $1.03 apiece on volume of over 3.8 million. The company recently acquired the Wild Steer claims in Colorado, which host two past-producing uranium and vanadium mines.

PolyMet Mining rallied $1.03 to close the week at $3.98 per share on volume of 2.9 million. The company is completing a feasibility study on its NorthMet copper-nickel-precious metals project and recently added an AMEX listing.

TSX-V greatest percentage change

VOLUME(000s) HIGH LOW CLOSE CHANGE
Madison Minls MMR 8670 1.23 0.65 1.17 +116.6
Sutter Gold SGM 2439 0.66 0.27 0.62 +110.1
Triumph Gold TAU 8102 0.13 0.07 0.12 +60.0
New Shoshoni V NSV 707 0.25 0.16 0.25 +56.2
Golden Tag GOG 1156 0.54 0.305 0.54 +50.0
Happy Ck Minls HPY 432 0.91 0.57 0.84 +47.3
Orient Res ORR 3345 0.97 0.67 0.86 +43.3
Sacre-Coeur Ml SCM 198 1.80 1.22 1.70 +41.6
Horseshoe Gld HSX 104 0.40 0.30 0.40 +37.9
Noront Res NOT 489 0.22 0.145 0.22 +37.5
San Telmo Res STA 120 0.75 0.50 0.50 -37.5
Glen Hawk Minl GHM 486 0.16 0.105 0.11 -26.6
Altima Res ARH 675 0.47 0.36 0.37 -26.0
West High Yld WHY 19 0.45 0.40 0.45 -25.0
Silverstone wt SST.WT 86 0.12 0.065 0.09 -25.0
Panoro Minls PML 58 0.26 0.23 0.23 -23.3
Golden Oasis GOT 20 0.355 0.35 0.35 -23.0
Colibri Res CBI 16 0.12 0.105 0.105 -22.2
Marifil Min wt MFM.WT 40 0.14 0.14 0.14 -20.0
Midlands Minls MEX 18 0.23 0.20 0.20 -20.0

TSX-V greatest value change

VOLUME CLOSE CHANGE
Polymet Mng POM 2915095 3.98 +1.03
First Majestic FR 573393 4.90 +0.90
Madison Minls MMR 8670247 1.17 +0.63
Seabridge Gold SEA 75150 16.00 +0.62
McChip Res MCS 10375 3.15 +0.55
Win Eldrich Mn WEX 44133 2.17 +0.51
Sacre-Coeur Ml SCM 197865 1.70 +0.50
Northern Dyn M NDM 200009 9.40 +0.50
Keegan Res KGN 173920 2.03 +0.43
Midway Gold MDW 228425 2.90 +0.42
Altius Mnrls ALS 187989 7.65 -0.35
San Telmo Res STA 120000 0.50 -0.30
Mishibishu Gol MGO 14000 3.10 -0.29
Osisko Explora OSK 298431 6.88 -0.27
Tiger Intl TGR 26569 1.52 -0.26
Bravo Vent BVG 2908532 1.18 -0.17
AuEx Vent XAU 133144 2.09 -0.16
Azimut Expl AZM 54606 1.90 -0.15
Messina Minls MMI 168425 1.44 -0.15
Aurelian Res ARU 1293257 29.75 -0.15

TSX-V most active issues

VOLUME(000s) HIGH LOW CLOSE CHANGE
Plexmar Res PLE 22314 1.27 1.03 1.12 +0.15
Searchgold Res RSG 12032 0.145 0.095 0.135 +0.035
Sage Gold SGX 10845 0.17 0.115 0.14 +0.025
Madison Minls MMR 8670 1.23 0.65 1.17 +0.63
Triumph Gold TAU 8102 0.13 0.07 0.12 +0.045
UrAsia Energy UUU 5022 3.00 2.71 3.00 +0.25
Cypress Dev CYP 4341 0.27 0.18 0.255 +0.065
Commander Res CMD 4336 0.95 0.63 0.92 +0.22
Skyharbour Res SYH 4069 0.145 0.10 0.13 +0.02
Anglo-Can Uran URA 3822 1.04 0.84 1.03 +0.21
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