TSX Venture Exchange July 31-August 3

Despite a modest upswing in precious metals prices over the holiday-shortened July 31-Aug. 3 trading session, the S&P-TSX Venture Composite Index again followed the general market downtrend to slip 3.1%, closing 98.42 points lower at 3,081.54. Average daily trading volumes were also down at 61 million shares.

The bearish trend on the junior board gained momentum over the session with 50 companies setting new 52-week lows and only 13 that touched new annual highs.

Blue Note Mining was top volume trader for the week with volume of just more than 8 million shares, but the junior shed 3 to 65 per share. The new producer has begun processing ore at its recently reactivated Caribou lead-zinc mine in New Brunswick and is due to sell its first concentrates.

Remaining a strong trader with 5.9 million shares changing hands, Peak Gold slipped further over the session to close down four pennies at 56 per share. The company produces gold at its Peak mine in Australia and the Amapari mine in Brazil, both acquired earlier this year from Goldcorp.

Shares of Donner Metals almost doubled, closing up 30 at 63 apiece on trading volume of 5.3 million. Drilling at the junior’s Bracemac and McLeod projects in Quebec’s Matagami mining camp returned high-grade massive sulphide intercepts grading up to 22.95% zinc over 19.75 metres.

Despite recently drilling high-grade intervals of up to 6 metres of 2,191 grams silver at its Galena mine, in northern Idaho, U.S. Silver saw its shares drop 9 to 90 on trading volume of more than 4.2 million shares.

With nickel prices almost approaching a 1-year low, shares in Crowflight Minerals dropped 5 to 77 apiece on trading volume of 3.8 million shares. The company is building a mine at its Bucko Lake nickel deposit, in northern Manitoba, where it anticipates an early 2008 startup.

Knight Resources shares pulled back from their 3-year high to close the week off 7 at 70 apiece on trading volume of 3.2 million shares. Recent drilling at the company’s 49%-held West Raglan project, in northern Quebec, cut a 28.7-metre interval of 1.06% nickel. The project is a joint venture with Anglo American, which holds 51%.

Dynamite Resources closed the session up a dime at 65 per share on trading volume of more than 3 million shares. The company is moving to close its acquisition of Tau Mining, which holds a pair of mineral licences in Kyrgyzstan.

Northern Dynasty Minerals closed the week down more than 9% at $14.82 on trading volume of 2.6 million shares. The dip follows news the company will bring in Anglo American as an equal partner on its Pebble copper-gold-molybdenum project in southwestern Alaska.

Tamerlane Ventures gave back a bit of its recent gains to close the session off 44 at $2.50 per share, with more than 1 million shares changing hands. The company continues to advance the Pine Point lead-zinc deposit in the Northwest Territories, and recently acquired the Los Pinos copper project in southern Peru.

TSX-V greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Donner Metals	DON	5299	0.80	0.43	0.63	+	90.9
Louvem Mines	LOV	33	0.37	0.245	0.34	+	70.0
Mengold Res	MNI	119	0.32	0.24	0.32	+	33.3
Mexican Silver	MSM	193	2.20	1.65	2.05	+	32.2
Intl Millm Mng	IMI	38	0.30	0.21	0.21	+	31.2
Minterra Res	MTR	285	0.195	0.15	0.195	+	30.0
Winfield Res	WWF	4023	0.60	0.47	0.57	+	29.5
Azteca Gold	AZG	160	0.67	0.455	0.65	+	25.0
Verdstone Gold	VGC	148	0.15	0.12	0.125	+	25.0
Maudore Minls	MAO	506	3.16	1.75	2.00	+	25.0
Ripple Lk Diam	RLD	201	0.05	0.03	0.03	–	50.0
Admiral Bay Rs	ADB	934	0.35	0.25	0.24	–	26.1
Spider Res	SPQ	443	0.04	0.035	0.035	–	22.2
Landdrill Int	LDI	137	0.295	0.22	0.25	–	21.8
Getty Copper	GTC	165	0.34	0.26	0.26	–	21.2
Odin Mining	ODN	15	0.24	0.235	0.225	–	21.0
Affinor Res	AFI	128	0.155	0.12	0.14	–	20.0
Radar Acquistn	RAC	127	0.43	0.38	0.40	–	20.0
Apoquindo Mnls	AQM	30	0.41	0.40	0.40	–	20.0
Goldbrook Vent	GBK	1039	0.50	0.38	0.385	–	19.7

TSX-V greatest value change

		VOLUME	CLOSE		CHANGE
Azimut Expl	AZM	117341	7.14	+	0.50
Mexican Silver	MSM	192920	2.05	+	0.50
Maudore Minls	MAO	505662	2.00	+	0.40
Donner Metals	DON	5298566	0.63	+	0.30
Dynasty Met&Mn	DMM	82892	7.95	+	0.25
Asian Minl Res	ASN	47644	2.20	+	0.24
Selkirk Metals	SLK	677982	1.46	+	0.22
Win Eldrich Mn	WEX	24500	2.65	+	0.22
Antares Minls	ANM	259710	3.25	+	0.22
Aldridge Minls	AGM	19000	2.97	+	0.20
Northern Dyn M	NDM	2600495	14.82	–	1.51
Seabridge Gold	SEA	93446	30.60	–	0.65
Mag Silver	MAG	431705	14.26	–	0.60
Aranka Gold	ARK	15800	3.45	–	0.45
Tournigan Gold	TVC	750916	3.05	–	0.44
Tamerlane Vent	TAM	1005849	2.50	–	0.44
Quaterra Res	QTA	277446	3.20	–	0.40
Cons Thomp Irn	CLM	1262033	5.60	–	0.35
Sacre-Coeur Ml	SCM	23900	1.70	–	0.33
Rainy River Rs	RR	150375	5.10	–	0.30

TSX-V most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Blue Note Mng	BN	8033	0.69	0.59	0.65	–	0.03
Peak Gold	PIK	5920	0.63	0.55	0.56	–	0.04
Donner Metals	DON	5299	0.80	0.43	0.63	+	0.30
US Silver	USA	4 240	1.03	0.89	0.90	–	0.09
Winfield Res	WWF	4023	0.60	0.47	0.57	+	0.13
Crowflight Mnl	CML	3787	0.88	0.76	0.77	–	0.05
Knight Res	KNP	3182	0.79	0.64	0.70	–	0.07
Dynamite Res	DNR	3058	0.69	0.50	0.65	+	0.10
Yukon Zinc	YZC	2832	0.295	0.26	0.27	–	0.01
Goldnev Res	GNZ	2703	0.18	0.14	0.14	–	0.025