TSX Venture Exchange January 16-22

Despite some modest strengthening in gold, the junior mining-dominated S&P-TSX Venture Composite Index shed 45.35 points over the Jan. 16-22 session to close at 2,846.88. Average daily trading volumes continued to rise over the period to 77.2 million shares.

Market sentiment remained bullish on the week with 56 junior board explorers rising to new 52-week highs over the trading session versus 22 that slipped to yearly lows.

First Narrows Resources jumped to top-trading honours, rallying 118%, or 39 to close at 72 per share on volume of 25.7 million shares. Drilling on its Chester project in New Brunswick’s Bathurst mining camp returned wide, high-grade copper intersections including 25 metres of 3.43% copper and 20.3 metres of 4.37% copper. The company recently lined up a $1.5-million brokered financing.

Pele Mountain Resources saw more than 13.1 million shares change hands on the session, gaining 4 to close at $1.32. A resource estimate tabled for its Elliot Lake uranium project reviewed just over 30 million inferred tonnes averaging 0.05% U3O8 or about 33 million contained pounds U3O8.

Shares of uranium producer UrAsia Energy dropped 45 on the week to close at an even $5.00 on trading volume of 12.8 million. A recent uranium supply contract with a North American nuclear utility will see about 4 million lbs. U3O8 delivered over five years. The company also recently announced quarterly earnings of US$25.9 million generated from production at its Akdala uranium mine in Kazakhstan.

Trading in Plexmar Resources perked up on the session with 12.3 million shares changing hands and closing up a couple of pennies at 64 per share. Surface channel sampling of vein structures on its Bolsa del Diablo project in northern Peru delivered further high-grade gold values.

Simberi Mining shed 3 to close at 9 per share for the week on trading volume of more than 10.7 million shares. The company is reviewing progress of a joint-venture agreement with Democratic Republic of the Congo state-owned mining company Gcamines regarding development of the Kakanda copper-cobalt project.

Appalaches Resources traded almost 10.4 million shares over the session, notching up a half-penny to 14 per share. Exploration on its Ashini project in Quebec turned up additional uranium-bearing pegmatite veins.

Mexico-focused explorer Continuum Resources gained 35% on the week to close up 12 at 46 per share with volume of almost 6.9 million shares. Drilling on its Natividad project in Oaxaca state recently cut high-grade, vein-hosted gold and silver values in a newly discovered extension zone. The company also recently closed a $7.5-million brokered private placement.

Hudson Resources rallied 54% on the trading session to close up 41 at $1.17 per share on volume of 3.4 million shares. Preliminary mini-bulk sample results from its western Greenland diamond project returned a number of macro-sized diamonds from a 350-kg kimberlite sample.

TSX-V greatest percentage change

VOLUME(000s) HIGH LOW CLOSE CHANGE
First Narrows UNO 25717 0.78 0.27 0.72 +118.1
Strait Gold wt SRD.WT 213 0.34 0.24 0.30 +76.4
Hudson Res HUD 3396 1.60 0.78 1.17 +53.9
Sanatana Diam STA 22 0.95 0.65 0.95 +46.1
Arctic Star Di ADD 3904 0.36 0.24 0.35 +45.8
Finlay Minrls FYL 87 0.14 0.11 0.14 +40.0
RJK Explor RJX.A 428 0.26 0.12 0.16 +39.1
Geodex Mnrls GXM 2330 0.53 0.355 0.50 +38.8
Advanced Expl AXI.H 89 0.25 0.205 0.25 +38.8
Stikine Gold SKY 243 0.34 0.23 0.34 +38.7
Marifil Min wt MFM.WT 26 0.05 0.03 0.03 -40.0
Odin Mining ODN 143 0.37 0.27 0.27 -34.1
Acrex Vent AKV 474 0.265 0.14 0.17 -33.3
Happy Ck Minls HPY 918 1.34 0.62 0.69 -33.0
Typhoon Expl TOO 4839 0.46 0.265 0.29 -27.5
Alpha Gold ALQ 197 1.11 0.76 0.83 -27.1
Menika Mining MML 43 0.11 0.095 0.095 -26.9
Fancamp Expl FNC 21 0.22 0.17 0.17 -26.0
Young-Shan Gld GYS 42 0.16 0.12 0.12 -25.0
Simberi Gold SAU 10748 0.115 0.08 0.09 -25.0

TSX-V greatest value change

VOLUME CLOSE CHANGE
Mansfld Mnrls MDR 700050 3.01 +0.51
Intl Enexco IEC 1631552 2.71 +0.51
Chesapeake Gld CKG 53644 5.25 +0.46
Pitchstone Exp PXP 879761 3.19 +0.44
Franconia Mnls FRA 522072 1.80 +0.43
Western Uran WUC 2011410 2.47 +0.41
Hudson Res HUD 3396279 1.17 +0.41
Palmarejo S&G PJO 433982 9.00 +0.40
U3O8 Corp UWE 1234524 4.48 +0.40
Northland Res NAU 3254704 1.99 +0.39
Aurelian Res ARU 1209913 30.05 -2.55
Seabridge Gold SEA 108250 13.89 -1.55
Coral Gold CGR 25730 2.77 -0.89
Rainy River Rs RR 890306 4.20 -0.55
UrAsia Energy UUU 12820888 5.00 -0.45
Bear Creek Mng BCM 253568 8.55 -0.39
Cons Thomp Irn CLM 2370133 3.07 -0.38
Happy Ck Minls HPY 917900 0.69 -0.34
Ucore Uranium UCU 165075 1.03 -0.34
Esperanza Silv EPZ 448822 3.38 -0.34

TSX-V most active issues

VOLUME(000s) HIGH LOW CLOSE CHANGE
First Narrows UNO 25717 0.78 0.27 0.72 +0.39
Pele Mtn Res GEM 13129 1.62 1.16 1.32 +0.04
UrAsia Energy UUU 12821 5.45 4.87 5.00 -0.45
Plexmar Res PLE 12301 0.76 0.57 0.64 +0.02
Simberi Gold SAU 10748 0.115 0.08 0.09 -0.03
Appalaches Res APP 10356 0.18 0.13 0.14 +0.005
Canadn Imp Vnt CQV 8129 0.18 0.135 0.16 +0.015
East
West Res
EWR 7082 0.15 0.10 0.115 -0.015
Continuum Res CNU 6868 0.56 0.33 0.46 +0.12
Solitaire Mnls SLT 6778 0.255 0.185 0.255 +0.055
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