TSX Venture Exchange May 9-15

Sharp corrections in commodity prices precipitated a major drop in the S&P-TSX Venture Composite Index, which shed 4.7%, or 150.24 points, to close at 3,029.49 over the May 9-15 trading session. Average daily trading volumes of 128.8 million shares reached a more than 5-year high over the week.

Despite the decline, 146 junior mining companies rose to new 52-week highs while just 11 explorers dipped to new annual lows.

Yukon Zinc grabbed top-trader honours for the week, with almost 97 million shares changing hands; shares in the company plummeted 45.5, or 48%, to close at 49.5.

The company released a feasibility study on its Wolverine zinc-copper-lead deposit in the eastern Yukon, outlining a 10-year mining plan for the production of zinc and silver with byproduct copper, lead and gold. Investors were taken aback by the project’s economics, including a royalty structure whereby Atna Resources holds a 10% royalty on silver at current price levels.

Coalcorp Mining rose to second place among volume leaders, trading 33.6 million shares and notching up three pennies to close at 89. The coal developer recently closed its acquisition of three projects and a port facility in northern Colombia.

Shares of Plexmar Resources rallied 13%, to close up 4.5 at 40 on volume of 14.3 million. Recent trench sampling at its Bolsa del Diablo project in Peru returned significant intervals of high-grade gold along veins hosted in the altered volcanics.

Aspiring gold producer Galantas Gold traded almost 13 million shares over the week, remaining even at 28. The company plans development of an open-pit mine at its Omagh gold project in Northern Ireland.

Strateco Resources saw volume of 12.8 million shares, dropping 37%, or 64, to close at $1.11. Drilling at its Matoush uranium project, in Quebec’s Otish Mountain region, recently returned up to 5.2 metres of 2% U3O8.

Closing up a dime at $2.89 per share, ECU Silver Mining posted trading volume of almost 11.6 million shares on the session. High-grade silver values plus gold were encountered in an underground crosscut driven between two vein sets at the company’s Santa Juana mine in Mexico’s Durango state.

Searchgold Resources dropped 1.5 to close at 14.5 on volume of 10 million shares. The company updated exploration activity on its Mandala-Ouria diamond project, in the Bouro diamond district of southeastern Guinea, West Africa, a joint venture with Mano River Resources.

Shares of Inspiration Mining soared 88%, closing the week up 60 at $1.28 on volume of 3.1 million. Drilling at the company’s Timmins, Ont.-area Langmuir project returned intercepts of up to 15.4 metres grading 3.1% nickel, including higher-grade intervals up to 9% nickel.

Upstart gold miner San Gold saw its shares rally 34%, gaining 50 to close at $1.98 on volume of almost 3.9 million. The mill at its Rice Lake mine in eastern Manitoba recently began commercial operation.

TSX-V greatest percentage change

		VOLUME(000S)	HIGH	LOW	CLOSE	CHANGE
Waymar Res	WYM	173	1.00	0.45	0.61	+103.3
Huntington Exp	HEI	503	0.30	0.21	0.30	+66.6
Inspiration Mg	ISM	3133	1.32	0.78	1.28	+60.0
Mandorin Goldf	MGD	9373	0.16	0.07	0.125	+56.2
North Am Metal	NAM	147	0.50	0.35	0.48	+43.2
Galway Res	GWY	130	1.05	0.64	1.00	+42.8
Orbite Expl A	ORT.A	1239	0.20	0.10	0.17	+41.6
Golden Tag	GOG	523	0.65	0.39	0.55	+41.0
Golconda Res	GA	735	0.49	0.22	0.33	+40.4
Mediterrn Res	MNR	183	0.53	0.395	0.49	+36.1
Yukon Zinc	YZC	96733	1.01	0.45	0.495	-47.8
Colibri Res wt	CBI.WT	40	0.04	0.035	0.035	-41.6
Firestone Vent	FV	3541	0.85	0.50	0.51	-38.5
Strateco Res	RSC	12832	1.77	1.02	1.11	-36.5
United Reef	URP	590	0.08	0.055	0.065	-31.5
Marifil Min wt	MFM.WT	41	0.19	0.13	0.13	-31.5
Royal Roads	RRO	71	0.165	0.14	0.14	-28.2
Sennen Res	SN	936	0.27	0.17	0.18	-28.0
Superior Mng	SMP	250	0.075	0.06	0.065	-27.7
Colibri Res	CBI	289	0.17	0.13	0.13	-27.7

TSX-V greatest value change

		VOLUME	CLOSE	CHANGE
Rockvale Res	RR	913039	3.30	+0.52
San Gold Res	SGR	3887485	1.98	+0.50
Inspiration Mg	ISM	3132960	1.28	+0.48
Chesapeake Gld	CKG	64195	5.86	+0.44
Polymet Mng	POM	2103656	4.79	+0.44
Eagle Rock Ex	ERX	437550	1.45	+0.35
Waymar Res	WYM	173125	0.61	+0.31
Galway Res	GWY	129800	1.00	+0.30
Northland Res	NAU	2412165	1.69	+0.29
Aldridge Minls	AGM	193520	2.27	+0.27
Seabridge Gold	SEA	318312	11.11	-1.24
Northern Dyn M	NDM	1628269	8.24	-1.21
Laramide Res	LAM	1065261	5.70	-1.20
Palmarejo Gold	PJO	423410	8.76	-1.04
Mega Uranium	MGA	2088944	6.60	-0.95
Western Prospc	WNP	1853440	3.00	-0.89
Asia Gold	ASG	246259	2.21	-0.81
Pac Booker Min	BKM	53601	6.20	-0.80
Avino Silver	ASM	256442	3.16	-0.79
Cardero Res	CDU	398435	3.00	-0.75

TSX-V most active issues

		VOLUME(000S)	HIGH	LOW	CLOSE	CHANGE
Yukon Zinc	YZC	96733	1.01	0.45	0.495	-0.45
Coalcorp Mng	CCJ	33581	1.05	0.81	0.89	+0.03
Plexmar Res	PLE	14314	0.53	0.36	0.40	+0.04
Galantas Gold	GAL	12951	0.365	0.275	0.28	0.00
Strateco Res	RSC	12832	1.77	1.02	1.11	-0.64
ECU Silver Mng	ECU	11592	3.40	2.83	2.89	+0.10
Antoro Res	ORE	10360	0.225	0.145	0.18	+0.03
Searchgold Res	RSG	10043	0.17	0.135	0.145	-0.01
Mandorin Goldf	MGD	9373	0.16	0.07	0.125	+0.04
Cons Gold Win	CGW	8864	0.235	0.17	0.185	-0.04