Following its recent meltdown, the junior mining-dominated S&P-TSX Venture Composite Index clawed back a bit of ground over the Aug. 21-27 trading session to post a 3.3% gain, up 84.28 points at 2,632.68. Average daily trading volumes relaxed from the previous week’s frantic selloff to come in at 82.4 million shares.
A slow market pulse was again evident in the lopsided tally of new annual highs versus lows for the week. A paltry three companies managed new 52-week highs over the session, while 148 junior explorers sank to new yearly lows.
Blue Note Mining saw its shares rally almost 25% over the week, closing up 12 to 61 per share on trading volume of 20.7 million shares. The company recently delivered the first lead concentrate produced from its Caribou lead-zinc mine in New Brunswick to Xstrata’s Belledune smelter.
Continuing to post gains, Celtic Minerals added a dime to its share price to close the session at $1.03 per share on trading volume of 12.3 million shares. The company recently announced a nickel-copper-cobalt-palladium massive sulphide discovery at its Kingurutik project in Labrador.
Yukon Zinc posted a modest gain of 3 to close the week at 22 per share on trading volume of 9.3 million shares. The company has locked down a US$140-million loan from Barclays Capital to develop its Wolverine polymetallic deposit in the Yukon.
The move by Mongolia’s Mineral and Petroleum Resources Authority to invalidate a pair of licences at Western Prospector Group‘s Saddle Hills uranium project sent the junior’s stock reeling by 39%; the company’s shares closed the week down $1.08 at $1.71 per share on trading volume of more than 6.1 million shares. One licence covers some of the company’s flagship Gurvanbulag deposit.
Excellon Resources saw a rise from drilling near its Platosa mine project, in Durango state, Mexico. The stock notched up 18 to close the session at $1.38 per share on almost 5.5 million shares of volume. One hole intersected up to 41.2 grams silver per tonne, 0.64% lead and 0.44% zinc over 16.3 metres.
Shares of Northland Resources got a 27% boost over the week on an iron-copper-gold resource estimate at its Hannukainen project, in Finland. The stock closed up 90 at $4.20 apiece. Northland has reviewed 84.6 million measured and indicated tonnes averaging 34.6% iron, 0.2% copper and 0.093 gram gold per tonne. Another 81.6 million inferred tonnes graded 35.7% iron, 0.13% copper and 0.036 gram gold.
Seabridge Gold continued to retreat off recent highs, closing the trading session down $2.35 at $23.85 per share. The company is drilling at its Kerr-Sulphurets project, in northwestern B.C., and its Noche Buena project, in Mexico.
Consolidated Thompson Iron Mines posted a more that 10% gain on the week, closing up 50 at $4.90 per share on trading volume of more than 2.4 million shares. It recently closed a $200-million financing earmarked for development of the Bloom Lake iron ore deposit in Quebec.
TSX-V most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Blue Note Mng | BN | 20758 | 0.63 | 0.455 | 0.61 | +0.12 |
| Peak Gold | PIK | 12926 | 0.54 | 0.47 | 0.50 | +0.005 |
| Celtic Mnrls | CME | 12337 | 1.24 | 0.83 | 1.03 | +0.10 |
| Yukon Zinc | YZC | 9341 | 0.245 | 0.18 | 0.22 | +0.03 |
| Western Prospc | WNP | 6143 | 1.80 | 0.87 | 1.71 | -1.08 |
| Excellon Res | EXN | 5470 | 1.45 | 1.13 | 1.38 | +0.18 |
| NFX Gold | NFX | 5148 | 0.50 | 0.35 | 0.39 | -0.01 |
| TTM Res | TTQ | 4668 | 1.04 | 0.73 | 0.77 | -0.04 |
| Spider Res | SPQ | 4277 | 0.045 | 0.03 | 0.04 | +0.01 |
| Dia Bras Expl | DIB | 4235 | 0.95 | 0.80 | 0.95 | +0.05 |
TSX-V greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Stratabd Mnr | SB | 368 | 0.30 | 0.24 | 0.30 | +66.6 |
| Superior Mng | SUI | 270 | 0.41 | 0.25 | 0.41 | +57.6 |
| Apoquindo Mnls | AQM | 149 | 0.55 | 0.37 | 0.55 | +57.1 |
| Adriana Res | ADI | 971 | 1.15 | 0.70 | 1.10 | +57.1 |
| Midland Expl | MD | 69 | 0.77 | 0.55 | 0.77 | +50.9 |
| Tanqueray Res | TQY | 85 | 0.10 | 0.09 | 0.10 | +42.8 |
| Unor Inc | UNI | 956 | 0.30 | 0.205 | 0.29 | +41.4 |
| New Nadina | NNA | 333 | 0.25 | 0.17 | 0.225 | +40.6 |
| Titan Uranium | TUE | 977 | 1.33 | 0.82 | 1.17 | +37.6 |
| Garrison Intl | GAU | 166 | 0.115 | 0.095 | 0.115 | +35.2 |
| Wind River Res | WRR | 237 | 0.105 | 0.065 | 0.085 | -39.2 |
| Western Prospc | WNP | 6143 | 1.80 | 0.87 | 1.71 | -38.7 |
| Adroit Res | ADT | 39 | 0.185 | 0.155 | 0.155 | -38.0 |
| Penteco Res | PEN | 525 | 0.45 | 0.28 | 0.33 | -37.7 |
| MacDonald Mns | BMK | 262 | 0.07 | 0.04 | 0.065 | -31.5 |
| Indico Res | IDI | 33 | 0.32 | 0.25 | 0.255 | -29.1 |
| Sienna Gold | SGP | 244 | 0.72 | 0.51 | 0.51 | -28.1 |
| Louvem Mines | LOV | 13 | 0.40 | 0.25 | 0.25 | -26.4 |
| BCM Res | B | 25 | 0.43 | 0.365 | 0.38 | -26.2 |
| Getty Copper | GTC | 144 | 0.24 | 0.18 | 0.18 | -25.0 |
TSX-V greatest value change
| WEEK VOLUME | CLOSE | CHANGE | ||
| Northland Res | NAU | 1416932 | 4.20 | +0.90 |
| Northern Dyn M | NDM | 962619 | 11.00 | +0.75 |
| JNR Res | JNN | 1301648 | 2.68 | +0.58 |
| Strathmore Min | STM | 1551862 | 2.84 | +0.56 |
| Keegan Res | KGN | 178237 | 3.05 | +0.54 |
| Anooraq Res | ARQ | 910185 | 3.23 | +0.53 |
| MBMI Res | MBR | 248291 | 2.00 | +0.50 |
| Mag Silver | MAG | 430179 | 12.35 | +0.50 |
| Cons Thomp Irn | CLM | 2423166 | 4.90 | +0.50 |
| Liberty Mines | LBE | 796817 | 2.60 | +0.50 |
| Seabridge Gold | SEA | 183747 | 23.85 | -2.35 |
| Western Prospc | WNP | 6143242 | 1.71 | -1.08 |
| Coral Gold | CGR | 23200 | 2.15 | -0.33 |
| Zeox | ZOX | 308812 | 1.80 | -0.30 |
| Fortress Base | FBM | 23000 | 0.90 | -0.29 |
| Esperanza Silv | EPZ | 337858 | 1.72 | -0.28 |
| Wealth Minls | WML | 142405 | 2.97 | -0.28 |
| SouthGobi Engy | SGQ | 23100 | 6.25 | -0.25 |
| Whitemud Res | WMK | 12385 | 10.25 | -0.25 |
| Quaterra Res | QTA | 280423 | 2.46 | -0.24 |
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