Despite some weakness in gold, silver and copper spot prices, the S&P-TSX Venture Composite Index eked out a 15.53-point gain over the Dec. 12-18 trading session to close at 2,821.05. However, average daily trading volumes retracted over the week to around 73 million shares.
A continued bullish market sentiment was evident in the weekly tally of new highs versus lows: 53 junior board mineral companies touched new 52-week highs compared with 39 that dropped to yearly lows.
Record high uranium prices spurred UrAsia Energy to new highs on strong volume of over 19.1 million shares over the week, closing up 60 at $4.80 per share. The company recently boosted resources by 69% at its South Inkai uranium project in Kazakhstan, where it also operates the Akdala uranium mine.
IBI Corp saw 18.2 million shares change hands on the week to close down a penny at 4 per share. The company is selling its Ugandan vermiculite mine to Rio Tinto and is gearing up to explore its gold and uranium projects, also in Uganda.
Shares of Consolidated Gold Win Ventures continued their rally, up 34% to 19.5 apiece on trading volume of over 14 million. After an initial market boost based on positive visual description of drill core from its South Dolly Varden gold-copper project, in Elko Cty., Nev., the company’s president confirmed he would invest $1 million into Consolidated Gold Win.
Surface grab sampling by King’s Bay Gold returned extremely high-grade values up to 2,942.7 grams gold per tonne from its Bobjo mine project in northwestern Ontario’s Red Lake area. It traded down 9 at 63 on volume of almost 13.3 million shares.
Noront Resources remained an active trader with 13 million shares of volume, but shed 21% to close at 76 per share. Recent drilling at its Windfall project in Quebec returned a high-grade 4.8-metre intercept of 1,792.9 grams gold. It has also recently arranged a $15-million brokered financing.
Uranium junior Ditem Explorations posted trading volume of over 10 million shares on the week, gaining 13 to close at 78 per share. It recently closed almost $3 million in financing for its projects in Quebec’s Otish Mountain area and in the Athabasca basin.
Plexmar Resources notched up a couple of pennies to close the week at 56 per share on volume of 8.8 million shares. The company is awaiting surface assay results from sampling on its recently acquired claims in southern Ecuador.
Shares of Phoenix Matachewan Mines gained 29%, closing up 4.5 at 16 apiece on volume of almost 7.2 million. It recently optioned its Swanson gold project in northwestern Quebec to Agnico-Eagle Mines.
Trading in Blue Note Mining perked up, with its shares gaining 3 to close at 45 apiece on volume of over 7.1 million. The company acquired the Caribou and Restigouche lead-zinc mines in New Brunswick earlier this year and is advancing them back towards production.
TSX-V greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Serengeti Res | SIR | 4973 | 0.67 | 0.27 | 0.62 | +93.7 |
| Midasco Gold | MGC | 100 | 0.25 | 0.19 | 0.25 | +72.4 |
| Trigon Expl Cn | TEL | 6424 | 0.85 | 0.51 | 0.80 | +68.4 |
| Noble Metal Gr | NMG | 271 | 0.22 | 0.16 | 0.22 | +46.6 |
| Lakewood Mng | LKW | 73 | 0.10 | 0.08 | 0.10 | +42.8 |
| Menika Mining | MML | 75 | 0.10 | 0.075 | 0.10 | +42.8 |
| Sparton Res | SRI | 1580 | 0.21 | 0.135 | 0.185 | +42.3 |
| Torch Rvr Res | TCR | 925 | 0.245 | 0.14 | 0.21 | +40.0 |
| Beta Minerals | BMI | 403 | 0.105 | 0.08 | 0.105 | +40.0 |
| Phoenix Mat | PMM | 7192 | 0.18 | 0.105 | 0.16 | +39.1 |
| Kettle River | KRR | 1223 | 0.24 | 0.11 | 0.135 | -44.9 |
| Exeter Res | XRC | 1490 | 3.02 | 1.71 | 1.90 | -36.6 |
| Discovery-Corp | DCY | 49 | 0.275 | 0.18 | 0.18 | -35.7 |
| Marifil Min wt | MFM.WT | 54 | 0.06 | 0.06 | 0.06 | -33.3 |
| Verona Dev | VDC | 826 | 0.36 | 0.21 | 0.24 | -29.4 |
| New Cantech Vn | NCV | 3472 | 0.90 | 0.62 | 0.66 | -29.0 |
| Cream Mnrls | CMA | 416 | 0.64 | 0.40 | 0.46 | -26.9 |
| Nautilus Minls | NUS | 1655 | 6.50 | 4.66 | 4.85 | -25.3 |
| Newstrike R wt | NR.WT | 15 | 0.10 | 0.06 | 0.06 | -25.0 |
| Canadn Imp Vnt | CQV | 6404 | 0.14 | 0.10 | 0.105 | -25.0 |
TSX-V greatest value change
| VOLUME | CLOSE | CHANGE | ||
| Aurelian Res | ARU | 2035058 | 32.25 | +4.25 |
| Altius Mnrls | ALS | 485941 | 10.80 | +1.74 |
| Triex Minerals | TXM | 289798 | 4.85 | +1.08 |
| UrAsia Energy | UUU | 19129114 | 4.80 | +0.60 |
| Aquila Res | AQA | 1292409 | 2.42 | +0.51 |
| Sutcliffe Res | SR | 1606639 | 1.88 | +0.48 |
| Powertech Uran | PWE | 2283971 | 2.59 | +0.44 |
| Urbana Corp | URB | 19600 | 3.15 | +0.44 |
| Aranka Gold | ARK | 117533 | 3.70 | +0.44 |
| Nevada Copper | NCU | 119370 | 1.60 | +0.42 |
| Nautilus Minls | NUS | 1655265 | 4.85 | -1.65 |
| Bear Creek Mng | BCM | 535417 | 8.91 | -1.63 |
| Seabridge Gold | SEA | 44955 | 14.95 | -1.43 |
| Exeter Res | XRC | 1490016 | 1.90 | -1.10 |
| Arizona Star | AZS | 53090 | 14.20 | -0.50 |
| Coral Gold | CGR | 13500 | 3.55 | -0.48 |
| Thunder Sword | THU | 132300 | 1.75 | -0.46 |
| Macarthur Mnl | MMS | 19827 | 2.15 | -0.36 |
| Keegan Res | KGN | 218224 | 2.85 | -0.35 |
| Midway Gold | MDW | 167053 | 2.85 | -0.35 |
| TSX-V most active issues | ||||||
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| UrAsia Energy | UUU | 19129 | 4.80 | 3.81 | 4.80 | +0.60 |
| IBI Corp | IBI | 18201 | 0.055 | 0.035 | 0.04 | -0.01 |
| Cons Gold Win | CGW | 14090 | 0.20 | 0.145 | 0.195 | +0.05 |
| Kings Bay Gold | KBG | 13286 | 0.77 | 0.58 | 0.63 | -0.09 |
| Noront Res | NOT | 13063 | 0.92 | 0.71 | 0.76 | -0.20 |
| Ditem Explor | DIT | 10349 | 0.82 | 0.56 | 0.78 | +0.13 |
| Plexmar Res | PLE | 8827 | 0.61 | 0.52 | 0.56 | +0.02 |
| Phoenix Mat | PMM | 7 192 |
0.18 | 0.105 | 0.16 | +0.045 |
| Blue Note Mng | BN | 7156 | 0.49 | 0.41 | 0.45 | +0.03 |
| Novawest Res | NVE | 6721 | 0.28 | 0.21 | 0.245 | +0.015 |
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