TSX VENTURE EXCHANGE JUNE 3-9

The S&P-TSX Venture Composite Index managed a small gain over the June 3-9 trading session, inching up 15.42 points to close at 2,667.31. Trading was strong, with daily volume averaging 101.9 million.

Bears continued to dominate the junior board. Over the session, 23 juniors managed new 52-week price highs while 160 sunk to new lows.

Largo Resources had a phenomenal week on no news. The Toronto-based junior — which, in an average day moves fewer than 500,000 shares — moved almost 33 million shares over the session to close up 26 at $1.10, a new high. Largo is advancing a 5,000-metre drill program at Maracas, its vanadiumplatinum group metals project in Brazil. With production at the project targeted for 2010, the company recently signed an offtake agreement with Glencore International for all vanadium produced there. Largo is also exploring the Northern Dancer tungstenmolybdenum project in the Yukon.

Another large volume mover this week was Canasia Industries, which traded 31 million shares to close up 9 at 49. Canasia has been very active in Saskatchewan of late, applying for coal permits in the wake of Goldsource Mines’ coal hit. The company has just received potash permits in the province.

Saskatchewan is also proving bountiful for North American Gem. The company received a letter during the session indicating its coal permit applications had been given priority status. The junior had slightly more direction than other area players in claiming its coal ground — partner Adamas hit a coal seam 14 months ago when looking for kimberlite and North American Gem recently had the short intercept graded. The company traded 30 million shares to close up 6 at 28.

Cash Minerals’ plan to reassess the potential in its Division Mountain coal property in the Yukon lifted its share price 7 to 29 and boosted its trading volume to 17.6 million. The project has sat inactive for two years, after a feasibility study found the 25-milliontonne coal project uneconomic. A 95-metre intercept of semi-to near-massive sulphides at the Anomaly 5.01 project in the James Bay lowlands lifted Metalex Ventures 6 over the session to close at 41 on 12.3 million shares traded. The project, a joint venture with Arctic Star Diamond and WSR Gold, is on the Ring of Fire that includes Noront Resources’ discovery. WSR gained 25 on the hit to close at 84.

Goldsource Mines, the Saskachewan coalfinder, continued its astronomical share price climb this week, gaining another $2.75 to close at $9.20. The junior was trading at 25 in April.

Ringbolt Ventures, busy exploring its Utah potash property, gained 56 to close at $1.84.

And Northern Freegold Resources’ first hole of the season into its large Freegold Mountain project in the Yukon was a doozy: 100 grams gold over 3.3 metres, within 38 metres averaging 10.4 grams gold. The news lifted the company’s share price 85% — it closed up 35 at 85.

TSX-V most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Largo Res	LGO	32945	1.15	0.80	1.10	+ 0.26
Canasia Indust	CAJ	31028	0.56	0.31	0.49	+ 0.09
North Am Gem	NAG	30083	0.35	0.23	0.28	+ 0.06
Cash Minerals	CHX	17587	0.31	0.20	0.29	+ 0.07
Metalex Vent	MTX	12327	0.52	0.33	0.41	+ 0.06
San Gold Res	SGR	11682	1.89	1.56	1.80	+ 0.12
X-Terra Res	XT	11118	3.00	1.75	2.17	+ 0.69
WSR Gold	WSR	9816	1.00	0.60	0.84	+ 0.25
Pac Ridge Expl	PEX	8643	0.30	0.12	0.24	+ 0.07
Opact Res	OPA	8586	0.29	0.19	0.22	+ 0.03

TSX-V greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Stelmine Can	STH	5106	1.29	0.12	1.27	+1311.1
Explor Res	EXS	5216	0.58	0.19	0.58	+190.0
Alturas Minls	ALT	4486	0.32	0.17	0.28	+86.6
Stellar Pac Vt	SPX	3003	0.14	0.07	0.13	+85.7
Northern Freeg	NFR	1284	0.85	0.46	0.85	+84.7
Solitaire Mnls	SLT	2879	0.19	0.10	0.18	+80.0
Network Expl	NET	814	0.11	0.08	0.09	+80.0
Cadillac Mng	CQX	422	0.13	0.09	0.12	+71.4
West Hawk Dev	WHD	8268	0.47	0.27	0.43	+65.3
Trigon Uran	TEL	3980	0.60	0.33	0.58	+61.1
Tanqueray Res	TQY	262	0.10	0.05	0.08	-33.3
Goldbrook Vent	GBK	4060	0.13	0.09	0.09	-30.7
Majestic Gold	MJS	2989	0.12	0.08	0.09	-30.7
Compliance Eny	CEC	2337	0.65	0.41	0.44	-30.1
Golden Goose	GGR	377	0.60	0.43	0.44	-29.0
CMQ Res	CMQ	12	0.11	0.05	0.05	-28.5
Roxgold	ROG	30	0.19	0.16	0.16	-27.2
Golden Dawn Ml	GOM	1062	0.14	0.10	0.11	-26.6
Radisson Mng	RDS	128	0.19	0.15	0.17	-26.0
Canaf Group	CAF	19	0.09	0.06	0.09	-25.0

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Goldsource Min	GXS	1345968	9.20	+ 2.75
Stelmine Can	STH	5105543	1.27	+ 1.18
Pan Oce Exp	POE	2276562	11.28	+ 0.76
X-Terra Res	XT	11118327	2.17	+ 0.69
Rainy River Rs	RR	882342	4.65	+ 0.56
Ringbolt Vent	RBV	1226888	1.84	+ 0.56
Seabridge Gold	SEA	30985	23.18	+ 0.52
Northern Freeg	NFR	1283530	0.85	+ 0.39
Explor Res	EXS	5215859	0.58	+ 0.38
Dundarave Res	DDX	31667	0.94	+ 0.34
Pac Booker Min	BKM	53443	6.45	-1.07
Altai Res	ATI	1736541	2.99	-0.60
Hathor Expl	HAT	2524271	2.62	-0.34
Vulcan Mnrls	VUL	383600	1.20	-0.25
Sherwood Coppr	SWC	138426	5.21	-0.23
Copper Mtn Mng	CUM	1124231	2.02	-0.22
Bear Creek Mng	BCM	421303	6.32	-0.22
Xemplar Energy	XE	429975	1.19	-0.21
Compliance Eny	CEC	2337168	0.44	-0.19
Golden Goose	GGR	377114	0.44	-0.18