Another week, another healthy gain for the junior mining-dominated TSX Venture Composite Index as metal prices showed continued strength, spurring an influx of investors, and closing up 49.74 points at 3,179.73 over the May 2-8 session. Average daily trading volumes remained strong at 93.2 million shares over the period.
Market strength was evident as 136 junior explorers reached new 52-week highs, while just eight dropped to new annual lows.
Rising to the top rung of volume traders was Consolidated Gold Win Ventures, which saw 17.3 million shares change hands, but shed 2.5 to close at 22.5. Market interest in the company’s Mud Lake diamond project, southeast of Yellowknife, N.W.T., has seen a resurgence following the recent intersection of a kimberlite sill in drilling.
Coalcorp Mining re-entered the volume leaders list, trading 14.8 million shares and surging 34%, or 22, to close at 86. The Colombian coal developer recently acquired three projects and a port facility in the northern section of the country.
Upstart uranium producer UrAsia Energy came in third amongst most actives, largely due to a couple of large market crosses, inching up 4 to close at $3.44 per share.
Shares of Strateco Resources soared 70%, closing up 72 at $1.75 on volume of almost 11.6 million. Drill results from the company’s Matoush uranium project, in Quebec’s Otish Mountain region, delivered up to 9.1 metres grading 1.4% U3O8, including 5.2 metres of 2% U3O8.
Trading up 14 to close at $2.79 per share, ECU Silver Mining posted volume of over 8.2 million on the week. An underground crosscut driven between two vein sets at its Santa Juana mine, in Mexico’s Durango state, encountered significant silver and gold mineralization.
Prospective mine developer Yukon Zinc traded almost 8 million shares, rallying 16 to close at 95 per share. The company released a feasibility study for its Wolverine zinc-copper-lead deposit in the eastern Yukon.
Bolivian-focused junior Eaglecrest Explorations shed 13.5 to close at 47.5 per share on trading volume of over 6 million. The company is feeling the fallout of the South American country’s recent agenda of nationalization of its oil and gas facilities — and the looming possibility that minerals could follow suit. It recently began an independent resource estimate on the Dona Amelia gold zone at its San Simon project in northeastern Bolivia.
Shares of Apogee Minerals lost 35% to close at 91 apiece on volume of 5.1 million, following market skittishness over Bolivia’s plans. The company has been drilling on its Buena Vista project, in the southwestern area of the country, delivering high-grade silver with significant gold, zinc and lead values.
Cardero Resource gained 99 on the week to close at $3.75 on almost 1 million shares of volume. Plans to acquire a dozen properties in a new gold district in northwestern Argentina excited investors.
TSX-V greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Hyder Gold | HGI | 5662 | 0.17 | 0.09 | 0.155 | +121.4 |
| Motapa Diam wt | MTP.WT | 30 | 0.03 | 0.02 | 0.02 | +100.0 |
| Tearlach Res | TEA | 576 | 0.42 | 0.24 | 0.40 | +86.0 |
| Terraco Gold | TEN | 2576 | 0.25 | 0.125 | 0.22 | +76.0 |
| Augyva Mng | AUV | 576 | 1.15 | 0.65 | 1.10 | +71.8 |
| Strateco Res | RSC | 11586 | 1.80 | 0.99 | 1.75 | +69.9 |
| Goldminco | GCP | 3831 | 0.165 | 0.095 | 0.16 | +68.4 |
| BacTech Mining | BM | 2661 | 0.52 | 0.22 | 0.445 | +67.9 |
| Saturn Minls | SMI | 688 | 0.25 | 0.165 | 0.25 | +66.6 |
| Golden Hope | GNH | 2217 | 0.17 | 0.08 | 0.135 | +50.0 |
| Gowest Amalg | GWA | 177 | 0.26 | 0.19 | 0.20 | -50.0 |
| Apogee Minls | APE | 5169 | 1.37 | 0.88 | 0.91 | -35.0 |
| Millstream Min | MLM | 2835 | 0.30 | 0.155 | 0.19 | -32.1 |
| Vault Minerals | VMI | 139 | 0.26 | 0.19 | 0.20 | -31.0 |
| Strategic Metl | SMD | 373 | 0.53 | 0.38 | 0.38 | -28.3 |
| Fortuna Silver | FVI | 2424 | 2.38 | 1.62 | 1.70 | -27.6 |
| Electra Gold | ELT | 749 | 0.28 | 0.18 | 0.21 | -27.5 |
| Laurion Gold | LAG | 133 | 0.17 | 0.14 | 0.14 | -26.3 |
| Cons Gulfside | CGL | 208 | 0.295 | 0.22 | 0.22 | -25.4 |
| Ivory O&M | IVY | 42 | 0.50 | 0.41 | 0.41 | -25.4 |
TSX-V greatest value change
| VOLUME | CLOSE | CHANGE | ||
| Cardero Res | CDU | 955665 | 3.75 | +0.99 |
| Altius Mnrls | ALS | 298878 | 7.20 | +0.81 |
| Northern Dyn M | NDM | 1154444 | 9.45 | +0.77 |
| Strateco Res | RSC | 11585928 | 1.75 | +0.72 |
| Skye Res | SKR | 844169 | 9.41 | +0.69 |
| Birch Mountn | BMD | 1110926 | 8.80 | +0.63 |
| Southern Star | SSR | 686900 | 3.65 | +0.60 |
| Raymor Ind | RAR | 6447795 | 2.61 | +0.56 |
| Maxy Gold | MXD | 1405912 | 1.90 | +0.50 |
| Nova Uranium | NUC | 366014 | 3.40 | +0.47 |
| Mega Uranium | MGA | 1464607 | 7.55 | -1.78 |
| Laramide Res | LAM | 749291 | 6.90 | -1.34 |
| Pac Booker Min | BKM | 140367 | 7.00 | -1.25 |
| Fortuna Silver | FVI | 2423511 | 1.70 | -0.65 |
| Energy Metals | EMC | 2258352 | 7.01 | -0.49 |
| Apogee Minls | APE | 5169011 | 0.91 | -0.49 |
| Bear Creek Mng | BCM | 1216305 | 4.60 | -0.49 |
| Dianor Res | DOR | 2943766 | 1.20 | -0.40 |
| Contl Precious | CZQ | 1626918 | 4.00 | -0.40 |
| Avino Silver | ASM | 239164 | 3.95 | -0.37 |
TSX-V most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Cons Gold Win | CGW | 17276 | 0.285 | 0.185 | 0.225 | -0.025 |
| Copper Creek V | CPV | 15199 | 0.21 | 0.10 | 0.15 | +0.03 |
| Coalcorp Mng | CCJ | 14778 | 0.88 | 0.65 | 0.86 | +0.22 |
| UrAsia Energy | UUU | 13922 | 3.57 | 3.34 | 3.44 | +<0.04 |
| Strateco Res | RSC | 11586 | 1.80 | 0.99 | 1.75 | +0.72 |
| ECU Silver Mng | ECU | 8261 | 3.14 | 2.64 | 2.79 | +0.14 |
| Yukon Zinc | YZC | 7980 | 0.95 | 0.76 | 0.95 | +0.16 |
| Raymor Ind | RAR | 6448 | 2.75 | 1.82< /td> | 2.61 | +0.56 |
| Eaglecrest Ex | EEL | 6066 | 0.60 | 0.425 | 0.475 | -0.135 |
| Appalaches Res | APP | 5847 | 0.165 | 0.10 | 0.13 | +0.025 |
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