The S&P/TSX Venture Composite Index inched upwards in the four-day week following the Victoria Day long weekend, adding 13.64 points, or 1.5%, to end at 948.32. Trading volumes for the period were down, averaging 53.5 million trades per day, perhaps indicating that the market is slowing down before the summer doldrums.
Neither of the week’s most actively traded stocks — Revolver Resources and Mustang Minerals — issued any news, and both share prices remained almost unchanged. Third on the top-traders list was Metals Creek Resources, which did have news: the junior announced a high-grade gold intercept from its Ogden gold project in Timmins, Ont., including 210.19 grams gold per tonne over 12.5 metres. The project is a joint venture with Goldcorp.
Anfield Nickel was the biggest value gainer of the week, adding 65¢ — or 25% — to reach $3.21. There was no obvious reason for the jump, as Anfield has been quiet since announcing a $3-million loan from Lumina Capital at the beginning of May.
The Venture’s second-biggest gainer did have news. A ground electromagnetic survey at Zenyatta Ventures’ high-grade Albany graphite discovery in Ontario confirmed the project’s potential, outlining two conductive zones coincident with the East and West breccias. To date Zenyatta has focused its drills on the East zone, tracking it along 300 metres strike, across 150 metres width and to 500 metres depth. The West zone anomaly is larger and more conductive. Zenyatta will drill there once it has defined an East zone resource. The junior gained 32¢ over the week to close at $2.07.
Solvista Gold saw its share price double on news of a long gold-copper intercept at its Caramanta project in Colombia. The intercept carried 1.01 grams gold, 0.21% copper and 2.3 grams silver per tonne over 457 metres, starting almost at surface and finishing with 74 metres of mineralization from a second, deeper porphyry phase. The Middle Cauca Belt south of Medellin is known for large, multi-phase porphyries. Solvista gained 25¢ to reach 50¢.
A show of faith — and money — from Agnico Eagle Mines gave the market cause to buy into Probe Mines, which rose 25¢ to reach $1.48. Agnico is investing $11.3 million in Probe, for which the miner will get 7.5 million shares and 5.6 million warrants exercisable at $2.10 for two years. Agnico is eyeing Probe’s Borden gold project in Ontario, which has been producing promising intercepts such as 4.6 grams gold over 25 metres.
Not every Venture-listed company fared so well. Aurcana started the week by adopting a shareholder rights plan “in response to, or in anticipation of, an offer or takeover bid,” but the news sparked a sell-off, and no such offer or bid has yet materialized.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Revolver Res | RZ | 7522 | 0.06 | 0.04 | 0.04 | 0 | |
| Mustang Minls | MUM | 7463 | 0.03 | 0.02 | 0.02 | – | 0.01 |
| Metals Ck Res | MEK | 7217 | 0.08 | 0.05 | 0.05 | 0 | |
| Colorado Res | CXO | 6795 | 1.74 | 1.38 | 1.53 | + | 0.05 |
| Pac Potash | PP | 5747 | 0.18 | 0.13 | 0.15 | – | 0.03 |
| Conway Res | CWY | 5734 | 0.01 | 0.01 | 0.01 | + | 0.01 |
| Doubleview Cap | DBV | 4599 | 0.17 | 0.12 | 0.16 | + | 0.04 |
| Woulfe Mng | WOF | 4340 | 0.16 | 0.1 | 0.13 | – | 0.06 |
| Northern Gld M | NGM | 3562 | 0.09 | 0.08 | 0.08 | – | 0.01 |
| Opawica Expl | OPW | 3355 | 0.01 | 0.01 | 0.01 | 0 | |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Aldershot Res | ALZ | 176 | 0.02 | 0.01 | 0.02 | + | 200 |
| MPH Vent | MPS | 20 | 0.01 | 0.01 | 0.01 | + | 100 |
| Trillium North | TNM | 79 | 0.02 | 0.02 | 0.02 | + | 100 |
| Solvista Gold | SVV | 1374 | 0.54 | 0.35 | 0.5 | + | 100 |
| Whetstone Mnls | WMI | 134 | 0.02 | 0.02 | 0.02 | + | 100 |
| Hunt Mng | HMX | 389 | 0.08 | 0.05 | 0.08 | + | 100 |
| Bell Copper | BCU | 159 | 0.01 | 0.01 | 0.01 | + | 100 |
| Cascade Res | CC | 10 | 0.01 | 0.01 | 0.01 | + | 100 |
| Conway Res | CWY | 5734 | 0.01 | 0.01 | 0.01 | + | 100 |
| Ashburton Vent | ABR | 2523 | 0.08 | 0.04 | 0.07 | + | 75 |
| Red Rock Enrgy | RRK | 430 | 0.01 | 0.01 | 0.01 | – | 66.6 |
| Kincora Copper | KCC | 20 | 0.08 | 0.04 | 0.04 | – | 52.9 |
| Manson Creek | MCK | 40 | 0.01 | 0.01 | 0.01 | – | 50 |
| Aura Silver Rs | AUU | 2962 | 0.01 | 0.01 | 0.01 | – | 50 |
| Netco Silver | NEI | 965 | 0.02 | 0.01 | 0.01 | – | 50 |
| Mill City Intl | MC | 56 | 0.01 | 0.01 | 0.01 | – | 50 |
| Honey Badger E | TUF | 15 | 0.02 | 0.01 | 0.01 | – | 50 |
| Pac Casc Minls | PCV | 70 | 0.01 | 0.01 | 0.01 | – | 50 |
| Playfair Mng | PLY | 117 | 0.01 | 0.01 | 0.01 | – | 50 |
| Red Pine Expl | RPX | 46 | 0.01 | 0.01 | 0.01 | – | 50 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Anfield Nickel | ANF | 71127 | 3.21 | + | 0.65 |
| Zenyatta Vent | ZEN | 2498293 | 2.08 | + | 0.32 |
| Kennady Diam | KDI | 66195 | 1.5 | + | 0.3 |
| Solvista Gold | SVV | 1374044 | 0.5 | + | 0.25 |
| Probe Mines | PRB | 367292 | 1.48 | + | 0.25 |
| Cayden Res | CYD | 914799 | 0.96 | + | 0.24 |
| Bear Creek Mng | BCM | 271246 | 1.95 | + | 0.21 |
| Afferro Mng | AFF | 96300 | 1.2 | + | 0.19 |
| Tasman Metals | TSM | 192932 | 0.9 | + | 0.19 |
| Energold Drill | EGD | 207829 | 1.8 | + | 0.16 |
| Aurcana Corp | AUN | 2046477 | 2.11 | – | 0.69 |
| Tsodilo Res | TSD | 19790 | 0.7 | – | 0.16 |
| Great Quest Me | GQ | 52305 | 0.69 | – | 0.11 |
| Amarillo Gold | AGC | 309553 | 0.24 | – | 0.1 |
| Gold Reserve | GRZ | 44198 | 3.4 | – | 0.1 |
| Sarama Res | SWA | 23818 | 0.55 | – | 0.09 |
| Callinan Royal | CAA | 692275 | 2.11 | – | 0.09 |
| Brazil Res | BRI | 94925 | 0.86 | – | 0.09 |
| Abitibi Royalt | RZZ | 13500 | 0.52 | – | 0.08 |
| Lion One Mtls | LIO | 38400 | 0.51 | – | 0.07 |
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