TSX Venture Exchange February 13 – 19

In spite of a strengthening gold price, market attention continues to focus on uranium, helping to drive the TSX Venture Exchange Composite Index up 118.64 points to 3,122.93 over the Feb. 13-19 trading session. Average daily volume rose to slightly more than 100 million shares from 97.8 million last week.

For the second week in a row, UrAsia Energy led the most-active list, rising 96 to $7.44 on trading volume of 6.2 million shares. UrAsia is the target of a $3.1-billion all-stock takeover by Toronto-based SXR Uranium One, a move that will allow the combined entity to rival uranium industry leader Cameco for production once its five mines are fully operational.

Majescor Resources was also active, after agreeing to option up to a two-thirds (just over 66%) interest in the uranium rights on its Lac Laparre property to a joint venture comprised of Santoy Resources and Melkior Resources. The project is located in Quebec’s Otish Mountains.

The terms of the deal call for an exploration work commitment of $2.5 million over five years (with a guaranteed minimum of $300,000 in the first year) and an upfront cash payment of $50,000. It will also see the issuance of 200,000 shares by Melkior and 60,000 Santoy shares in tranches over a 1-year period. Majescor rose 13 to 27 on the news, on trading volume of 3.5 million shares.

On the precious metals front, spot gold rose to US$671.10 per oz. from US$662.10 during the session. Active stocks, included Searchgold Resources, which rose 7 to 26 after releasing initial results from a 54-hole (4,300-metre) drill program on its Mandiana gold property in Guinea, West Africa.

Highlights from the first 12 holes included a 22-metre intercept grading 9.76 grams gold per tonne (from 50 metres below surface) in hole NDI-002.

Aurelian Resources led the list of value gainers, rising $4.59 to $29.59 even though the company had no news to report during the period, aside from the filing of its 2006 financial statements. Last November, when the company raised $75 million for exploration and development in Ecuador, Aurelian’s stock price was approaching $40.00. Drill results from the Fruta Del Norte (FDN) zone at its Condor gold-silver project suggested that it could be one of the best discoveries of the past decade, according to analyst Don Poirier of Blackmont Capital.

However, enthusiasm has been tempered by Ecuador’s political switch to the left following the election of 43-year-old economist Rafael Correa as president of the South American country.

In Mexico, First Majestic Silver is promising to produce 5 million oz. silver this year, with the lion’s share coming from its La Parrilla and San Martin mines. The stock rose $1.13 to $5.98. Two weeks ago, First Majestic said construction of a new 800 tonne-per-day mill at La Parrilla was complete. It said two different circuits had been installed and commissioned: a 400-tonne-per-day cyanidation circuit and a 400-tonne-per-day flotation circuit.

TSX-V greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Majescor Res	MAJ	35377	0.285	0.14	0.275	+	89.6
Odyssey Res	ODX	9442	0.245	0.12	0.20	+	66.6
Baltic Res	BLR	1267	0.39	0.23	0.37	+	54.1
J.A.G. Mines	JML	905	0.245	0.14	0.245	+	53.1
Coniagas Res	CNY	90	0.35	0.225	0.34	+	51.1
Cantex Mn Dev	CD	13088	0.14	0.08	0.12	+	50.0
Golden Hope	GNH	1229	0.74	0.49	0.74	+	48.0
Monster Copper	MNS	1731	0.78	0.485	0.71	+	47.9
Geologix Ex	GIX	1870	1.16	0.80	1.12	+	40.0
Millstream Min	MLM	6580	0.415	0.245	0.39	+	39.2
Northern Crown	CXP	3926	0.08	0.05	0.06	–	36.8
Luxor Ind	LRL	22	0.065	0.045	0.045	–	35.7
Terra Nova Gld	TGC	61	0.075	0.045	0.045	–	35.7
Ultra Uranium	ULU	2994	1.63	1.01	1.10	–	31.2
Orsa Vent	ORN	105	0.295	0.255	0.255	–	29.1
Carlin Gold	CGD	27	0.275	0.24	0.255	–	29.1
Tanqueray Res	TQY	223	0.11	0.085	0.11	–	24.1
Vault Minerals	VMI	604	0.38	0.24	0.28	–	23.2
Tsodilo Res	TSD	11	0.60	0.60	0.60	–	20.0
Dajin Res	DJI	190	0.27	0.22	0.25	–	19.3

TSX-V greatest value change

		VOLUME	CLOSE		CHANGE
Aurelian Res	ARU	1079215	29.59	+	4.59
First Majestic	FR	1108512	5.98	+	1.13
UrAsia Energy	UUU	61878994	7.44	+	0.96
Mishibishu Gol	MGO	1248843	5.30	+	0.91
Sabina Silver	SBB	4504321	3.25	+	0.89
Northland Res	NAU	1153565	3.05	+	0.78
Liberty Mines	LBE	3040729	3.50	+	0.70
Strathmore Min	STM	2214118	4.82	+	0.70
Strateco Res	RSC	5885084	3.70	+	0.67
Tournigan Gold	TVC	8462807	3.50	+	0.65
Mansfld Mnrls	MDR	295743	3.20	–	0.55
Ultra Uranium	ULU	2993674	1.10	–	0.50
Dynasty Met&Mn	DMM	399633	3.96	–	0.34
Pan African Mg	PAF	94650	2.65	–	0.32
Rainy River Rs	RR	590651	4.19	–	0.21
Aurcana Corp	AUN	3797779	1.33	–	0.20
Asia Gold	ASG	43700	2.10	–	0.20
Columbus Gold	CGT	257931	1.55	–	0.20
Norwood Res	NRS	4085597	2.10	–	0.20
Callinan Mns	CAA	398375	1.23	–	0.20

TSX-V most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
UrAsia Energy	UUU	61879	7.45	6.31	7.44	+	0.96
Searchgold Res	RSG	46993	0.29	0.19	0.26	+	0.07
Majescor Res	MAJ	35377	0.285	0.14	0.275	+	0.13
Tribute Minls	TBM	16455	0.42	0.285	0.35	+	0.065
Alexis Minls	AMC	13112	1.45	1.06	1.15	–	0.10
Cantex Mn Dev	CD	13088	0.14	0.08	0.12	+	0.04
Golden Cariboo	GCC	10028	0.12	0.07	0.085	+	0.02
Odyssey Res	ODX	9442	0.245	0.12	0.20	+	0.08
Tournigan Gold	TVC	8463	3.50	2.83	3.50	+	0.65
Millstream Min	MLM	6580	0.415	0.245	0.39	+	0.11