With bullion straddling the US$800-per-oz. level over the Dec. 4-10 trading session, the S&P-TSX Venture Composite Index eked out a modest gain of 33.87 points to close at 2,751.27. Daily trading volumes averaged 88.6 million shares for the week.
A powerful bearish trend again dominated the junior mining market over the period with a paltry nine companies managing new annual share price highs while 213 slumped to 52-week lows.
Gravity West Mining grabbed top trading honours for the week with almost 39 million shares changing hands — posting a 3 gain to close at 20 per share. Assays are pending from the company’s Voltaire Lake project in northwester Ontario’s Sibley basin region, where recent drilling cut massive sulphides.
News that Yukon Zinc has withdrawn plans to raise $130 million due to weak market conditions further depressed its shares. The stock shed two pennies to close the session at 11.5 on 22.9 million shares traded. Subsequently, an $8-million financing was arranged to maintain development and engineering activities at the company’s Wolverine zinc-silver project in the Yukon.
Shares of penny trader Simberi Mining climbed 2 on the week to close at 8 on trading volume of 12.5 million shares. The company is planning a drill program at its Lambina project in South Australia and is working at settling title issues at its Kakanda copper-cobalt project in the Democratic Republic of the Congo.
Shares of Sanatana Diamonds soared more than 620%, up $1.93 to $2.24 apiece, on trading volume of over 11 million shares after a sample from its Dharma kimberlite in the Northwest Territories confirmed it is diamond-bearing.
Another penny junior, Patrician Diamonds, saw its share price almost double to 12.5 per share — up 5.5 — on 10.4 million shares traded. Planned drilling on its Sahtu project in the Northwest Territories has been delayed until spring.
Peak Gold posted a 7 gain to close the week at 55 per share on 10.3 million shares of volume. It has closed a $110-million financing and also recently boosted the resource tally at its Amapari gold mine in Brazil.
After drilling on its Red Willow project in the Athabasca basin turned up significant uranium intercepts, Purepoint Uranium added 7 to its stock price to close the week at 44 on nearly 10 million shares traded.
Tournigan Gold rallied 30% on the trading session — closing up 31 at $1.35 per share after delivering a resource boost at its Curraghinalt gold project in Northern Ireland. It also updated the resource at its Kuriskova uranium project in Slovakia.
Snowfield Development posted a 75% gain for the week, closing up 15 to 35 per share, on news it delivered the first 100 tonnes of a 500-tonne kimberlite mini-bulk sample to De Beers’ facility in Saskatchewan for testing. The kimberlite is from the company’s Ticho project, located just southeast of Yellowknife in the Northwest Territories.
TSX-V greatest percentage change
VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | |||
Sanatana Diam | STA | 11375 | 2.65 | 0.30 | 2.24 | + | 622.5 |
Patrician Diam | PXC | 10453 | 0.165 | 0.08 | 0.125 | + | 78.5 |
Snowfield Res | SNO | 3223 | 0.39 | 0.185 | 0.35 | + | 75.0 |
Cariboo Rose | CRB | 793 | 0.38 | 0.22 | 0.36 | + | 71.4 |
Dianor Res | DOR | 1986 | 0.54 | 0.285 | 0.495 | + | 59.6 |
Lithic Res | LTH | 259 | 0.63 | 0.385 | 0.63 | + | 57.5 |
Clifton Star | CFO | 34 | 2.00 | 1.40 | 2.00 | + | 51.5 |
Carlin Gold | CGD | 200 | 0.12 | 0.085 | 0.12 | + | 50.0 |
Maxy Gold | MXD | 238 | 0.61 | 0.42 | 0.61 | + | 41.8 |
Metco Res | MKO | 2292 | 0.07 | 0.045 | 0.07 | + | 40.0 |
Golconda Res | GA | 216 | 0.17 | 0.115 | 0.14 | – | 34.8 |
Great Sthn Ent | GSR | 124 | 0.045 | 0.04 | 0.04 | – | 33.3 |
Big Bar Res | BBK | 296 | 0.38 | 0.24 | 0.24 | – | 31.4 |
Wellstar Enrgy | WST | 24 | 0.10 | 0.07 | 0.07 | – | 30.0 |
Noble Metal Gr | NMG | 107 | 0.24 | 0.17 | 0.17 | – | 29.1 |
Nikos Expl | NIK | 327 | 0.14 | 0.10 | 0.10 | – | 28.5 |
Buchans River | BUV | 196 | 0.42 | 0.36 | 0.36 | – | 28.0 |
Global Uran | GU | 323 | 0.21 | 0.14 | 0.17 | – | 27.6 |
Western Prospc | WNP | 2081 | 1.28 | 1.05 | 1.07 | – | 27.7 |
Gold World Res | GDW | 500 | 0.085 | 0.055 | 0.055 | – | 26.6 |
TSX-V greatest value change
VOLUME | CLOSE | CHANGE | |||
Seabridge Gold | SEA | 77684 | 29.50 | + | 3.15 |
Sanatana Diam | STA | 11374622 | 2.24 | + | 1.93 |
Azimut Expl | AZM | 256315 | 4.36 | + | 0.74 |
Pan Oce Exp | POE | 1468306 | 10.65 | + | 0.73 |
Kodiak Expl | KXL | 6419800 | 4.61 | + | 0.69 |
Clifton Star | CFO | 33559 | 2.00 | + | 0.68 |
Exeter Res | XRC | 137192 | 5.06 | + | 0.59 |
Anooraq Res | ARQ | 356917 | 4.33 | + | 0.58 |
Antares Minls | ANM | 264441 | 4.05 | + | 0.50 |
Palmarejo S&G | PJO | 2004527 | 11.80 | + | 0.50 |
Xemplar Energy | XE | 1689822 | 6.69 | – | 0.56 |
Belvedere Res | BEL | 60000 | 1.47 | – | 0.47 |
Tirex Res | TXX | 1729804 | 2.89 | – | 0.43 |
Western Prospc | WNP | 2081195 | 1.07 | – | 0.41 |
Fortress Minls | FST | 389700 | 1.31 | – | 0.38 |
Triex Minerals | TXM | 148112 | 2.75 | – | 0.35 |
Pediment Expl | PEZ | 941420 | 2.71 | – | 0.33 |
Rainy River Rs | RR | 237425 | 3.97 | – | 0.28 |
AuEx Vent | XAU | 297880 | 2.15 | – | 0.26 |
Blackstone Res | BLV | 1185000 | 0.71 | – | 0.17 |
TSX-V most active issues
VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | |||
Gravity West | GRW | 38918 | 0.22 | 0.165 | 0.20 | + | 0.03 |
Yukon Zinc | YZC | 22925 | 0.15 | 0.115 | 0.115 | – | 0.02 |
Simberi Gold | SAU | 12524 | 0.10 | 0.055 | 0.08 | + | 0.02 |
Sanatana Diam | STA | 11375 | 2.65 | 0.30 | 2.24 | +< /td> | 1.93 |
Patrician Diam | PXC | 10453 | 0.165 | 0.08 | 0.125 | + | 0.055 |
Peak Gold | PIK | 10320 | 0.55 | 0.475 | 0.55 | + | 0.07 |
Purepoint U | PTU | 9948 | 0.62 | 0.40 | 0.44 | + | 0.07 |
Gold Hawk Res | CGK | 9125 | 0.55 | 0.38 | 0.55 | + | 0.145 |
Tournigan Gold | TVC | 8402 | 1.35 | 0.96 | 1.35 | + | 0.31 |
Sage Gold | SGX | 8324 | 0.54 | 0.455 | 0.52 | + | 0.02 |
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