The S&P/TSX Venture Composite took another tumble during the trading period, as it lost 6.31%, or 55.69 points, en route 827.13-point weekly close. Markets were impacted by falling energy futures after a dim outlook on oil demand growth weighed on the commodity’s price. Meanwhile, Statistics Canada reported that the Canadian unemployment rate declined to 6.8% last month, which is the lowest level since late 2008.
November contracts for West Texas Intermediate crude oil dropped 4.4%, or US$3.92 during the trading period, before closing at US$85.82 per barrel. December contracts for gold bullion gained 3%, or US$35, en route to a US$1,221.70 per oz. close. Copper futures were also on the rise, with December contracts for the red metal rising 1.5%, or US4.4¢, before closing out the week at US$3.04 per lb.
Explorer Kennady Diamonds received a cold response from investors after releasing diamond-recovery results from a 25-tonne mini-bulk sample at its wholly owned Kennady North project in the Northwest Territories. The company lost $2.52 on 253,000 shares traded before closing out the week at $5.47.
Kennady reported a total grade at the Kelvin kimberlite of 1.79 carats per tonne from the sample, which returned 751 commercial-sized diamonds at a total weight of 44.64 carats. The results reportedly fell within the company’s guidance estimates, but underwhelmed markets based on previous samples that hinted at higher grades. For example, a 4.3-tonne sample taken in 2013 yielded 18.57 carats of diamonds for a grade of 4.32 carats per tonne.
Junior Premium Exploration caused a buzz after releasing assay results from a 15-hole drill program at its wholly owned Idaho gold project located near Elk City, Idaho. The company topped the volume-traded column during the week after nearly 25 million of its shares changed hands. Premium gained 125% before closing at 5¢ per share.
Drilling began at the high-grade section of the Friday deposit, which hosts 21.5 million indicated tonnes grading 0.91 gram gold for 629,000 contained oz. at a 0.4 gram gold cut-off. Mineralization at Friday is hosted in sheared and altered granodiorite-quartz monzonite breccias and muscovite-sericite schists.
Highlights of Premium’s results include: 113 metres grading 5.22 grams gold from 24.4 metres deep in hole 2014-6; 98 metres averaging 2.1 grams gold from 20 metres deep in hole 2014-8; and 92.6 metres of 2.43 grams gold from 26 metres deep in hole 2014-10.
Shares of Pacific Coal Resources were on the rise after a joint-operation agreement with Sloane Mining Services to produce, buy and sell coal at the Cerro Largo mine in eastern Colombia. The company gained 11¢ during the week on 106,353 shares traded before closing at 25¢ per share.
TSX-V most active issues
| Volume | Week | ||||||
| (000s) | High | Low | Close | Change | |||
| Premium Expl | PEM | 24870 | 0.08 | 0.02 | 0.05 | + | 0.03 |
| Baja Mng | BAJ | 6901 | 0.05 | 0.03 | 0.05 | + | 0.01 |
| Appalaches Res | APP | 6788 | 0.03 | 0.02 | 0.03 | + | 0.01 |
| Robex Res | RBX | 6706 | 0.16 | 0.06 | 0.06 | – | 0.09 |
| Mustang Minls | MUM | 6369 | 0.02 | 0.01 | 0.02 | + | 0.01 |
| Alix Res | AIX | 5850 | 0.02 | 0.01 | 0.01 | 0 | |
| True Gold Mng | TGM | 3901 | 0.34 | 0.29 | 0.32 | – | 0.01 |
| West Af Iron O | WAI | 3887 | 0.02 | 0.01 | 0.01 | 0 | |
| Confedertn Mls | CFM | 3477 | 0.12 | 0.07 | 0.08 | 0 | |
| Canada Carbon | CCB | 3065 | 0.25 | 0.21 | 0.24 | – | 0.01 |
TSX-V greatest percentage change
| Volume | Week | ||||||
| (000s) | High | Low | Close | Change | |||
| Premium Expl | PEM | 24870 | 0.08 | 0.02 | 0.05 | + | 125 |
| Lincoln Mng | LMG | 81 | 0.17 | 0.1 | 0.17 | + | 112.5 |
| Apogee Silver | APE | 174 | 0.01 | 0.01 | 0.01 | + | 100 |
| Artha Res | AHC | 32 | 0.02 | 0.01 | 0.01 | + | 100 |
| Afri-Can Marin | AFA | 83 | 0.01 | 0.01 | 0.01 | + | 100 |
| Brookemnt Cpt | BKT | 276 | 0.01 | 0.01 | 0.01 | + | 100 |
| Diamond Fields | DFI | 126 | 0.02 | 0.01 | 0.02 | + | 100 |
| Caribou King R | CKR | 70 | 0.01 | 0.01 | 0.01 | + | 100 |
| Azincourt Res | AAZ | 2529 | 0.09 | 0.04 | 0.06 | + | 100 |
| Blind Crk Res | BCK | 25 | 0.01 | 0.01 | 0.01 | + | 100 |
| Uravan Minls | UVN | 2840 | 0.12 | 0.03 | 0.04 | – | 70.3 | Actus Mnls | AAC | 25 | 0.03 | 0.03 | 0.03 | – | 70 |
| Robex Res | RBX | 6706 | 0.16 | 0.06 | 0.06 | – | 60.7 |
| Strata Mnls | SMP | 51 | 0.08 | 0.04 | 0.04 | – | 55.5 |
| Goldcliff Res | GCN | 74 | 0.01 | 0.01 | 0.01 | – | 50 |
| Golden Hope | GNH | 632 | 0.01 | 0.01 | 0.01 | – | 50 |
| Equitas Res | EQT | 114 | 0.07 | 0.05 | 0.05 | – | 50 |
| Kings Bay Gold | KBG | 14 | 0.01 | 0.01 | 0.01 | – | 50 |
| Coronet Mtls | CRF | 250 | 0.01 | 0.01 | 0.01 | – | 50 |
| Altair Vent | AVX | 1145 | 0.03 | 0.02 | 0.02 | – | 50 |
TSX-V greatest value change
| Week | |||||
| Change | Close | Change | |||
| Ascot Res | AOT | 962232 | 2.1 | + | 0.27 |
| Pac Coal Res | PAK | 106253 | 0.25 | + | 0.11 |
| Highway 50 Gld | HWY | 133500 | 0.41 | + | 0.1 |
| Lincoln Mng | LMG | 80787 | 0.17 | + | 0.09 |
| Palladon Vent | PLL | 92850 | 0.84 | + | 0.08 |
| Cayden Res | CYD | 798710 | 2.93 | + | 0.07 |
| Oceanic Iron O | FEO | 206010 | 0.24 | + | 0.07 |
| Mason Graphite | LLG | 637664 | 0.69 | + | 0.05 |
| Atac Res | ATC | 933067 | 0.65 | + | 0.05 |
| Fairmont Res | FMR | 30000 | 0.26 | + | 0.05 |
| Kennady Diam | KDI | 252967 | 5.47 | – | 2.52 |
| Athabasca Mnls | ABM | 979333 | 1.38 | – | 0.42 |
| Tsodilo Res | TSD | 19529 | 0.82 | – | 0.32 |
| Bacanora Mnls | BCN | 193715 | 0.88 | – | 0.27 |
| Gold Reserve | GRZ | 93338 | 4.3 | – | 0.21 |
| Tasman Metals | TSM | 333137 | 0.62 | – | 0.15 |
| Reservoir Mnls | RMC | 244243 | 4.03 | – | 0.15 |
| Energold Drill | EGD | 191980 | 1.35 | – | 0.15 |
| Great Quest Me | GQ | 95250 | 0.96 | – | 0.12 |
| Chesapeake Gld | CKG | 651396 | 2.67 | – | 0.11 |
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