TSX Venture Exchange Feb. 27-Mar. 5

The Asian stock market correction prompted a major retraction in the resource sector over the Feb. 27-March 5 trading session as investors wondered if the region’s hunger for commodities would wane. The S&P-TSX Venture Composite Index plummeted almost 10% over the week, shedding 319.25 points to close at 2,955.39. Average daily trading volumes remained strong, at almost 110 million shares, as investors scrambled to crystallize earlier gains.

Market sentiment was reflected in the weekly measure of bulls versus bears, with a diminished 49 junior miners managing new 52-week highs against 44 companies that slumped to yearly lows on the trading session.

One of the market’s favourite uranium vehicles, UrAsia Energy, saw over 30 million shares change hands during the period with a drop of $1.25 to close at $6.65 per share. The company has production from operations in Kazakhstan and recently entered an agreement to merge with SXR Uranium One to form a new uranium major.

Bard Ventures remained among the trading leaders over the session with volume of more than 26 million shares; the stock shed 30%, however, closing down 14.5 at 34 per share. Drilling at its Lone Pine project near Houston, B.C., recently pulled a 490-metre intercept of 0.05% MoS2, including a 102.3-metre interval of 0.08% MoS2.

Another B.C. molybdenum-focused junior, TTM Resources, also turned in heavy volume, gaining 19.5 to close at 52 per share on 9.7 million shares traded. Initial drilling from the company’s Chu project, near Vanderhoof, B.C., pulled 198 metres of 0.132% molybdenum.

Trading in Skyharbour Resources perked up over the week; shares in the company closed up 1.5 at 17 on trading volume of 18 million shares. The company recently closed a 3-million-share private placement at a dime apiece and remains focused on projects in the Red Lake and Rainy River areas of northwestern Ontario.

Shares of Universal Uranium posted a 175% gain, closing up $1.03 at $1.62 apiece on volume of 16.7 million shares. The company, along with joint-venture partner Silver Spruce Resources, drilled a 30-metre intercept grading 0.11% U3O8 on its Northwest claim package in Labrador’s Central Mineral Belt.

Searchgold Resources gave back some recent gains to close down 12 at 26 per share on volume of 15.7 million shares. Recent high-grade gold values from its Mandiana project in Guinea, West Africa excited investors.

With 15.3 million shares changing hands, uranium hunter Ditem Explorations continued to post strong volume but slipped 45 to close at $1.85 per share. It recently began geophysics programs on its Athabasca basin projects.

Trading was strong in Vantex Resources following a high-grade gold intercept from its Guillet property in northwestern Quebec. Drilling cut a 3.3-metre interval of 62 grams gold.

TSX-V most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
UrAsia Energy	UUU	30276	7.65	6.50	6.65	-1.25
Bard Vent	CBS	26245	0.57	0.325	0.34	-0.145
Skyharbour Res	SYH	17997	0.225	0.145	0.17	+0.015
Universal Uran	UUL	16739	1.70	0.51	1.62	+1.03
Searchgold Res	RSG	15675	0.37	0.215	0.26	-0.12
Ditem Explor	DIT	15269	2.55	1.76	1.85	-0.45
Vantex OG&Mnls	VTX	13855	0.29	0.175	0.175	-0.025
Cypress Dev	CYP	13042	0.51	0.315	0.40	+0.02
Cons Pac Bay	CBP	12130	0.70	0.50	0.50	-0.21
Freewest Res	FWR	10545	0.23	0.185	0.20	-0.00

TSX-V greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Universal Uran	UUL	16739	1.70	0.51	1.62	+174.5
Southampton Vn	SV	1029	1.76	0.99	1.33	+98.5
TTM Res	TTQ	9749	0.62	0.29	0.52	+60.0
Abington Vent	ABV	221	0.255	0.17	0.20	+42.8
Palladon Vent	PLL	2494	0.43	0.30	0.39	+36.8
Gobimin	GMN	799	3.50	2.30	3.27	+35.6
Doublestar Res	DSR	985	0.415	0.25	0.38	+33.3
Windarra Minls	WRA	17	0.19	0.14	0.19	+31.0
Waseco Res	WRI	6815	1.05	0.58	0.85	+30.7
Anglo Swiss	ASW	1821	0.085	0.06	0.085	+30.7
Mandorin Goldf	MGD	130	0.05	0.02	0.02	-50.0
Hudson Res	HUD	4051	1.90	1.04	1.15	-40.4
JNR Res	JNN	5418	4.14	2.59	2.59	-38.0
Bayswater Uran	BAY	6506	2.35	1.54	1.61	-33.4
Mawson Res	MAW	1680	3.30	2.26	2.28	-32.3
Searchgold Res	RSG	15675	0.37	0.215	0.26	-31.5
Novawest Res	NVE	2285	0.36	0.24	0.24	-31.4
Alberta Star D	ASX	5771	2.65	1.77	1.80	-31.3
Coastport Cap	CPP	841	0.80	0.52	0.55	-31.2
New Dimen Res	NDR	152	0.40	0.265	0.29	-30.1

TSX-V greatest value change

		VOLUME	CLOSE	CHANGE
Universal Uran	UUL	16739304	1.62	+1.03
Gobimin	GMN	799480	3.27	+0.86
Southampton Vn	SV	1029001	1.33	+0.66
Arizona Star	AZS	42100	14.10	+0.44
Cons AGX Res	CSX	24475	2.39	+0.38
Mag Silver	MAG	1014964	9.10	+0.36
Pan African Mg	PAF	144627	3.00	+0.25
Rome Res	RMR	12500	2.49	+0.22
Waseco Res	WRI	6815164	0.85	+0.20
TTM Res	TTQ	9749104	0.52	+0.195
Seabridge Gold	SEA	347313	16.22	-3.18
Aurelian Res	ARU	204303	29.01	-1.96
Osisko Explora	OSK	603189	10.49	-1.84
Bear Creek Mng	BCM	506650	6.70	-1.80
JNR Res	JNN	5417530	2.59	-1.59
Western Prospc	WNP	868042	4.18	-1.39
Pitchstone Exp	PXP	1784654	3.40	-1.35
First Majestic	FR	1016370	4.90	-1.35
UrAsia Energy	UUU	30275623	6.65	-1.25
Triex Minerals	TXM	649341	4.89	-1.24