In wrapping up a banner year for commodity prices, the junior mining-dominated TSX Venture Composite Index closed 2006 on a rally, surging 140.8 points, or almost 5%, to 2,987.08 over the holiday shortened Dec. 21-29 trading session. Average daily trading volumes quieted slightly over the period at 67.5 million shares.
Bulls trampled bears at the year’s close with 80 junior board explorers reaching new 52-week highs versus just 23 that slipped to yearly lows over the abbreviated trading session.
Noront Resources grabbed top-trader honours with almost 25.4 million shares changing hands, but shed 11 to close at 63. Following a previous high-grade 4.8-metre intercept of 1,792.9 grams gold from the company’s Windfall project in Quebec, additional drill results returned lower grades, including 5.1 grams gold over 10 metres. Noront also recently closed a $15-million brokered financing.
Santoy Resources continued its meteoric rise, gaining 41% to close up 29 at 99 per share on trading volume of 12 million shares. The uranium-focused junior recently delivered U3O8 assays from its Fish Hawk Lake project in Labrador’s Central Mineral Belt and closed a $1.1-million financing.
Another uranium-focused junior, Gravity West Mining, saw trading volume of 10.7 million shares and gained three pennies to close at 12 per share. The company is exploring its Voltaire project in the Sibley basin of northern Ontario.
Consolidated Gold Win Ventures notched up a half-penny to close at 18 per share on trading volume of over 10.1 million shares. Selected drill core assays from its South Dolly Varden gold-copper project, in Elko Cty., Nev., returned up to 2 metres of 5.2% copper. The stock recently saw a market boost following the release of visual core descriptions.
With 9.3 million shares of trading volume, Yukon Zinc gained 3 to close the week at 30. A robust zinc price has stimulated renewed interest in the company’s Wolverine project in the Yukon.
Shares of Independent Nickel closed up 85% on the session, gaining 29 to 63 apiece on volume of 7.5 million. The company recently closed a $2.8-million flow-through financing for its Lynn Lake nickel project in northern Manitoba.
Uranium producer UrAsia Energy continued to new highs, gaining 37 to close at $5.37 per share on volume of 7.4 million. It recently announced earnings of US$25.9 million in its latest quarter. The company operates the Akdala uranium mine and holds the South Inkai deposit and 30% of the Kharassan project, all in Kazakhstan.
Following drill results of 12.4 metres of 2.1% U3O8 from its Matoush project in Quebec’s Otish Mountain region, Strateco Resources slipped 14% to close the session down 41 at $2.55 per share on volume of almost 7 million shares. With some final results pending from its 2006 drill program, the company has tabled a $12-million budget for 2007.
Shares of Ultra Uranium doubled over the trading session to close at $1.56 apiece on volume of almost 2.9 million. It received a draft qualifying report for its past-producing Kalnica-Selec uranium project in the Czech Republic.
TSX-V most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Noront Res | NOT | 25374 | 1.00 | 0.62 | 0.63 | -0.11 |
| Santoy Res | SAN | 12048 | 1.03 | 0.70 | 0.99 | +0.29 |
| Gravity West | GRW | 10716 | 0.13 | 0.08 | 0.12 | +0.03 |
| Cons Gold Win | CGW | 10152 | 0.205 | 0.16 | 0.18 | +0.005 |
| Sea Green Cap | SGS | 9590 | 0.12 | 0.07 | 0.11 | +0.04 |
| Yukon Zinc | YZC | 9348 | 0.30 | 0.26 | 0.30 | +0.03 |
| Independent Ni | INI | 7515 | 0.76 | 0.40 | 0.63 | +0.29 |
| UrAsia Energy | UUU | 7424 | 5.56 | 4.73 | 5.37 | +0.37 |
| Canadn Imp Vnt | CQV | 7293 | 0.135 | 0.105 | 0.115 | +0.01 |
| Strateco Res | RSC | 6952 | 3.12 | 2.54 | 2.55 | -0.41 |
TSX-V greatest value change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Centurion Mnls | CTN | 173 | 1.10 | 0.45 | 0.90 | +200.0 |
| Jantar Res | JR | 303 | 0.87 | 0.22 | 0.25 | +127.2 |
| Luxor Ind | LRL | 65 | 0.145 | 0.07 | 0.145 | +123.0 |
| Ultra Uranium | ULU | 2866 | 1.68 | 0.75 | 1.56 | +100.0 |
| Independent Ni | INI | 7515 | 0.76 | 0.40 | 0.63 | +85.2 |
| New Nadina | NNA | 455 | 0.34 | 0.15 | 0.26 | +73.3 |
| Sanu Res | SNU | 448 | 1.07 | 0.64 | 1.05 | +72.1 |
| J.A.G. Mines | JML | 174 | 0.17 | 0.10 | 0.17 | +70.0 |
| SYMC Res | SY | 72 | 0.185 | 0.12 | 0.185 | +68.1 |
| Intl Kirkland | IKI | 1516 | 0.12 | 0.07 | 0.115 | +64.2 |
| New Shoshoni V | NSV | 499 | 0.27 | 0.205 | 0.21 | -25.0 |
| Southampton Vn | SV | 64 | 0.50 | 0.38 | 0.38 | -24.0 |
| Darnley Bay | DBL | 105 | 0.15 | 0.115 | 0.115 | -23.3 |
| Ripple Lk Diam | RLD | 45 | 0.12 | 0.105 | 0.11 | -21.4 |
| Piper Capital | PCL | 204 | 0.335 | 0.24 | 0.27 | -20.5 |
| Madison Energy | MDC | 37 | 0.345 | 0.29 | 0.29 | -19.4 |
| Prospctr C Res | PRR | 130 | 0.18 | 0.13 | 0.145 | -19.4 |
| Fancamp Expl | FNC | 109 | 0.26 | 0.18 | 0.19 | -17.3 |
| Radar Acquistn | RAC | 155 | 0.36 | 0.24 | 0.30 | -16.6 |
| Senator Minls | SNR | 115 | 0.18 | 0.145 | 0.15 | -16.6 |
TSX-V greatest value change
| VOLUME | CLOSE | CHANGE | ||
| Osisko Explora | OSK | 1730984 | 11.07 | +2.07 |
| Contl Precious | CZQ | 1347476 | 2.91 | +0.91 |
| Western Prospc | WNP | 726000 | 5.45 | +0.85 |
| Seabridge Gold | SEA | 109263 | 16.55 | +0.84 |
| Ultra Uranium | ULU | 2866120 | 1.56 | +0.78 |
| Mawson Res | MAW | 3418597 | 2.37 | +0.77 |
| Inspiration Mg | ISM | 1456252 | 2.17 | +0.75 |
| U3O8 Corp | UWE | 2117425 | 3.65 | +0.65 |
| Liberty Mines | LBE | 1249779 | 2.79 | +0.64 |
| Centurion Mnls | CTN | 173100 | 0.90 | +0.60 |
| Aurelian Res | ARU | 552261 | 31.00 | -0.87 |
| Nautilus Minls | NUS | 563248 | 5.20 | -0.70 |
| Strateco Res | RSC | 6952445 | 2.55 | -0.41 |
| Crosshair E&Mg | CXX | 2140692 | 3.32 | -0.36 |
| Pearl Ex & Pr | PXX | 1213346 | 5.08 | -0.28 |
| Aquila Res< /td> | AQA | 860302 | 2.37 | -0.24 |
| Titan Uran wtA | TUE.WT.A | 40300 | 1.21 | -0.23 |
| Keegan Res | KGN | 81838 | 3.00 | -0.22 |
| Win Eldrich Mn | WEX | 56675 | 1.67 | -0.21 |
| Arizona Star | AZS | 265280 | 13.80 | -0.20 |
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