Vancouver — Canada’s junior exchange lost ground over the week ended Feb. 13 as a modest gain in the oil and gas index failed to offset a downturn in the tech sector. The Canadian Venture Exchange lost 68.73 points, or 2.1%, to finish the period at 3,218.47. The mining index remained steady, losing only 0.37 of a point, to close at 6115.17.
Shares in Navigator Explorations posted solid gains, closing the week up 18 at 85 with 1.5 million shares traded. The junior announced that kimberlite had been intersected in the first hole of an ongoing drill program at the Kat property in the James Bay lowlands of Ontario. The company’s partner in the project, Canabrava Diamonds, ended the week at 93, up 3 on 463,600 shares.
Gold Summit Mines found a dime and closed at 30 on a volume of 1.3 million shares. The junior had been focusing on information technology but recently began considering several interesting resource exploration opportunities.
North American Tungsten added a penny to its value and closed at 52, with 1.2 million shares traded. The stock has rallied strongly over recent weeks, owing to higher tungsten prices. The junior hired Roscoe Postle Associates to prepare an updated report on the company’s tungsten assets, in particular the CanTung mine in northern Canada. At current prices, the junior believes CanTung could make money.
Shares in Poplar Resources closed down 5 to 14 on a volume of 875,000 shares. The company’s subsidiary, North Star Diamonds, has begun a re-evaluation of its Bottenbacken palladium project in central Sweden.
A nice percentage gainer, Emerging Africa Gold climbed 10 to 36 on 811,000 shares. The junior recently purchased an 8.8% stake in KWG Resources and is working the Property 1000 diamond claims in Brazil.
Cantex Mine Development lost 2 and closed the week at 15, with just over 1 million shares changing hands. The Charles Fipke-led company holds the Suwar massive-sulphide project in Yemen and is seeking a joint-venture partner to replace Falconbridge, which terminated its partnership agreement.
Sparked by the latest trench results from the El Tambor property in Guatemala, shares in Radius Explorations continued to move higher. The company ended the week up 10 to $1.12 with 769,000 shares changing hands.
Kensington Resources closed at 63, up 5 on 606,000 shares. Investors are eagerly awaiting macrodiamond counts from last year’s drill program over the Fort la Corne diamond property in Saskatchewan. Joint-venture partner DeBeers Canada Exploration was expected to table the results in mid-February.
Getting a boost on news that joint-venture partner Falconbridge has launched a ground geophysical survey over the Footwall nickel-copper-platinum-palladium project, Aurora Platinum tacked on 75 and closed at $5.40.
Rockwell Ventures slumped 7 to 80 on light volume. The company is working the Pedra Branca platinum-palladium-rhodium-gold property in northeastern Brazil.
Be the first to comment on "CDNX catches breath after bull run"