TSX Venture Exchange Jan. 15-21

Fallout from U.S. economic woes triggered precipitous drops in Canadian markets over the Jan. 15-21 trading session with the S&P-TSX Venture Composite Index plummeting 13.5%, or 379.3 points, to 2,390.52. Daily trading volumes for the week averaged 95.7 million shares.

A decisively bearish trend overwhelmed the junior board with a paltry six companies managing new annual highs, while 273 dropped to 52-week lows.

With anxiously awaited assays in from its Voltaire Lake project in northwestern Ontario, Gravity West Mining plummeted 68% to close the week down 20.5 at 9.5 per share on trading volume of 60.3 million shares. Investors were not impressed with hole VL07-03A, which returned 10.8 metres of 0.34% copper and 0.08% nickel — including 2 metres of 0.87% copper and 0.15% nickel. A separate 1-metre interval assayed 1.2 grams palladium per tonne.

Sage Gold posted almost 20 million shares of trading volume and shed over 50% to close at 22.5 per share. Drilling at its Jacobus property, near Beardmore, in northern Ontario, returned up to 22.6 metres of 0.7% nickel and 0.74% copper, including 11.8 metres of 0.93% nickel and 0.92% copper.

Shares of Peak Gold fell a dime on trading volume of 13.3 million shares to close the week at 49 apiece. It closed a $110-million financing late last year.

Carmax Explorations slipped 1.5 to finish the week at 19 per share on more than 9 million shares traded. Recent drilling on the company’s Eaglehead property, in northern B.C.’s Quesnel Trough, intersected wide intervals of copper-molybdenum-gold mineralization.

Tyler Resources continued to be a strong trader over the week with 9 million shares changing hands — closing off two pennies at $1.53 per share. Chinese metals giant Jinchuan recently tabled a $1.60-per-share takeover bid for the junior. In mid-2007, Tyler released a significant resource estimate for its Bahuerachi polymetallic project, in northern Mexico.

MacDonald Mines Exploration dropped 16 on the session to close at 42 apiece on nearly 8.2 million shares traded. It closed a $10-million financing in November with drill plans for its VMS projects in the McFaulds Lake area of the James Bay Lowlands.

On 7.8 million shares traded, Geoinformatics Exploration slipped 2.5 to 24 per share after strong recent gains stemming from a resource estimate at its Whistler project, in Alaska. The project holds 840,000 contained ounces gold classified as indicated, plus 2.74 million oz. gold under the inferred category.

Shares of Sable Resources continued to soar on no news. The stock traded up 29 on the week to close at $1.07 on nearly 1 million shares traded. The company raised $1 million late last year for underground development work and processing equipment at its Shasta project in north-central B.C., where it plans small-scale gold and silver production.

TSX-V greatest percentage change

VOLUME(000s) HIGH LOW CLOSE CHANGE
St Eugene Mng SEM 69 0.12 0.07 0.10 + 66.6
Luxor Ind LRL 10 0.085 0.05 0.085 + 54.5
Resolve Vent RSV 45 0.195 0.195 0.195 + 39.2
Sable Res SAE 999 1.15 0.78 1.07 + 37.1
Plato Gold PGC 64 0.12 0.06 0.12 + 33.3
Cantex Mn Dev CD 2892 0.11 0.07 0.10 + 33.3
Jantar Res JR 150 0.09 0.07 0.09 + 28.5
Island Arc Exp IAX 55 0.195 0.155 0.195 + 25.8
Pac Casc Minls PCV 199 0.23 0.17 0.23 + 24.3
Diamcor Mng DMI 26 0.57 0.425 0.49 + 22.5
Gravity West GRW 60308 0.305 0.095 0.095 68.3
Northern Abiti NAI 2793 0.355 0.13 0.15 57.1
Sage Gold SGX 19777 0.46 0.195 0.225 50.5
Great Sthn Ent GSR 60 0.035 0.01 0.03 50.0
Goldmember Mnl GMV 47 0.37 0.20 0.20 45.9
Golden Arrow R GRG 165 0.85 0.55 0.55 43.8
Kodiak Expl KXL 5626 3.68 2.15 2.15 42.6
Rye Patch Gold RPM 69 0.39 0.24 0.24 41.4
Anglo Mnrls ALM 949 5.87 3.60 3.60 39.0
Mexican Silver MSM 719 0.57 0.35 0.355 37.7

TSX-V greatest value change

VOLUME CLOSE CHANGE
Sable Res SAE 998600 1.07 + 0.29
Digger Res DIG 17800 2.10 + 0.20
New Millen Cap NML 719042 0.85 + 0.15
Wealth Minls WML 102865 1.45 + 0.15
Asian Minl Res ASN 93380 1.69 + 0.14
Olivut Res OLV 13589 0.90 + 0.09
Polar Star Mng POS 134039 0.75 + 0.09
Diamcor Mng DMI 25500 0.49 + 0.09
Moss Lake Gld MOK 421500 0.48 + 0.08
New World Res NW 70500 0.43 + 0.06
Seabridge Gold SEA 312473 20.00 7.28
Pan Oce Exp POE 2336456 11.30 2.90
Anglo Mnrls ALM 948814 3.60 2.31
Kodiak Expl KXL 5625588 2.15 1.60
Chesapeake Gld CKG 124743 6.85 1.27
Whitemud Res WMK 25767 9.25 1.25
Noront Res NOT 4255585 2.70 1.14
Bear Creek Mng BCM 267960 7.13 1.12
Rainy River Rs RR 722528 4.01 1.09
Pediment Expl PEZ 1316947 2.05 1.07

TSX-V most active issues

VOLUME(000s) HIGH LOW CLOSE CHANGE
Gravity West GRW 60308 0.305 0.095 0.095 0.205
Sage Gold SGX 19777 0.46 0.195 0.225 0.23
Peak Gold PIK 13315 0.59 0.49 0.49 0.10
Opact Res OPA 9128 0.75 0.50 0.55 0.17
Carmax Expl CMX 9066 0.24 0.17 0.19 0.015
Tyler Res TYS 9030 1.56 1.52 1.53 0.02
MacDonald Mns BMK 8183 0.63 0.42 0.42 0.16
Geoinformatics GXL 7799 0.355 0.24 0.24 0.025
Blue Note Mng BN 7351 0.33 0.24 0.255 0.075
Yukon Zinc YZC 7034 0.13 0.11 0.11 0.015
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