Unsettled trading saw the S&P-TSX Venture Composite Index bounce off its recent drop and recover 92.9 points over the May 23-29 session to close at 2,863.63. Average daily trading volumes dried up dramatically over the period at just 56 million shares.
Fewer companies cracked new annual highs over the week, with just 23 juniors managing to rally to new 52-week peaks while 19 explorers slid to new yearly lows.
Once again, top volume trader for the week was Yukon Zinc with over 21 million shares. The stock gained a modest three pennies to close at 31 following its recent precipitous drop. Recent feasibility study results for its Wolverine zinc-copper-lead deposit, in the Yukon, have indicated relatively high cost estimates coupled with a royalty structure on silver that is viewed as quite lofty.
Kazakhstan-focused uranium producer UrAsia Energy grabbed second place in trading volume with 7.5 million shares changing hands, tacking on 27 to close at $2.95. Anticipated production from its Akdala mine this year is pegged at 2.6 million lbs. U3O8. The company recently secured a couple of uranium supply contracts.
ECU Silver Mining closed up 12 at $3.07 per share, posting volume of 6 million on the session. Further underground sampling at its Santa Juana mine, in Mexico’s Durango state, delivered high-grade silver plus gold values.
Shares of Quebec-focused junior Strateco Resources gained 11 to close at $1.13 on 5 million shares. Drilling at the company’s Matoush uranium project recently returned uranium values of up to 2% U3O8 over 5.2 metres. The company is also selling off a couple of its gold projects to a subsidiary and plans to spin out shares in a new company.
Volcanic Metals Exploration posted a 67% gain on the week, trading up 40 at $1.00 on volume of 2.9 million shares. It recently acquired a portfolio of several uranium projects in western Colorado, some of which contains historic resources.
On trading volume of 1.6 million shares, Foran Mining gained 59% to close up 8.5 at 23. The company reached a settlement in disputes with its former chairman and a property joint-venture partner.
Aurelian Resources rallied $2.26 to round out the week at $7.15 per share on volume of over 1.3 million. It recently closed a $20-million financing and announced mobilization of a second drill rig to its Fruta del Norte epithermal gold-silver project in Ecuador.
Shares in Sienna Gold gained 88%, or 44, to close at 94 on volume of almost 1.1 million. Additional drilling on the company’s Igor gold project in northern Peru cut up to 96 metres averaging 2.6 grams gold per tonne and 65.8 grams silver per tonne.
With a large, second-phase drill program under way on its Constancia copper-gold project in Peru, shares of Norsemont Mining dropped 38 to close at $2.29 apiece on volume of 240,000.
TSX-V greatest percentage change
| VOLUME(000S) | HIGH | LOW | CLOSE | CHANGE | ||
| Sienna Gold | SGP | 1083 | 0.95 | 0.45 | 0.94 | +88.0 |
| Emerald Isle | EIR | 90 | 0.55 | 0.305 | 0.54 | +77.0 |
| Volcanic Mtl E | VME | 2905 | 1.06 | 0.57 | 1.00 | +66.6 |
| Stralak Res | SRK | 213 | 0.46 | 0.25 | 0.40 | +60.0 |
| Foran Mng | FOM | 1569 | 0.24 | 0.19 | 0.23 | 58.6 |
| Aurelian Res | ARU | 1336 | 7.50 | 4.51 | 7.15 | +46.2 |
| Southern Silvr | SSV | 3151 | 1.33 | 0.75 | 1.00 | +42.8 |
| Coastport Cap | CPP | 1023 | 1.45 | 1.25 | 1.43 | +36.1 |
| Tanqueray Res | TQY | 78 | 0.27 | 0.17 | 0.27 | +35.0 |
| Bravo Vent | BVG | 1156 | 0.68 | 0.47 | 0.66 | +34.6 |
| Big Red Diamnd | DIA | 234 | 0.145 | 0.08 | 0.09 | -28.0 |
| Intl Arimex R | IEA | 705 | 0.18 | 0.12 | 0.13 | -27.7 |
| Fancamp Expl | FNC | 1072 | 0.22 | 0.15 | 0.19 | -26.9 |
| Nova Uranium | NUC | 721 | 3.00 | 1.75 | 1.80 | -25.6 |
| Newfld Goldbar | NGB | 53 | 0.06 | 0.055 | 0.06 | -25.0 |
| Luxor Ind | LRL | 16 | 0.155 | 0.15 | 0.15 | -25.0 |
| Golden Oasis | GOT | 25 | 0.52 | 0.455 | 0.455 | -24.1 |
| Intl Kirkland | IKI | 308 | 0.135 | 0.10 | 0.10 | -23.0 |
| Orex Expl | OX | 455 | 0.27 | 0.20 | 0.20 | -23.0 |
| Dynamite Res | DNR | 42 | 0.30 | 0.27 | 0.27 | -22.8 |
TSX-V greatest value change
| VOLUME | CLOSE | CHANGE | ||
| Aurelian Res | ARU | 1336233 | 7.15 | +2.26 |
| Seabridge Gold | SEA | 92149 | 11.20 | +1.45 |
| Mexgold Res | MGR | 331635 | 6.50 | +1.00 |
| Northern Dyn M | NDM | 763383 | 8.95 | +0.92 |
| Altius Mnrls | ALS | 146018 | 6.80 | +0.65 |
| Laramide Res | LAM | 1030219 | 6.05 | +0.60 |
| Leroy Vent | LRV | 320650 | 2.22 | +0.47 |
| Polymet Mng | POM | 387771 | 4.40 | +0.45 |
| Sienna Gold | SGP | 1083250 | 0.94 | +0.44 |
| Mishibishu Gol | MGO | 222691 | 3.42 | +0.43 |
| Nova Uranium | NUC | 720992 | 1.80 | -0.62 |
| Pac Booker Min | BKM | 86978 | 5.10 | -0.50 |
| Golden Peaks | GL | 329366 | 2.60 | -0.46 |
| Coral Gold | CGR | 16645 | 3.56 | -0.44 |
| Thunder Sword | THU | 20100 | 1.51 | -0.41 |
| Norsemont Mng | NOM | 238461 | 2.29 | -0.38 |
| Peregrine Diam | PGD | 119927 | 3.49 | -0.36 |
| San Telmo Res | STA | 30686 | 1.40 | -0.30 |
| TLC Vent | TLV | 44467 | 1.14 | -0.26 |
| Marathon PGM | MAR | 69000 | 4.25 | -0.25 |
TSX-V most active issues
| VOLUME(000S) | HIGH | LOW | CLOSE | CHANGE | ||
| Yukon Zinc | YZC | 21330 | 0.36 | 0.29 | 0.31 | +0.03 |
| UrAsia Energy | UUU | 7503 | 3.09 | 2.56 | 2.95 | +0.27 |
| ECU Silver Mng | ECU | 5996 | 3.23 | 2.84 | 3.07 | +0.12 |
| Strateco Res | RSC | 5030 | 1.22 | 0.88 | 1.13 | +0.11 |
| Plexmar Res | PLE | 4019 | 0.385 | 0.32 | 0.335 | -0.005 |
| Cons Gold Win | CGW | 3849 | 0.185 | 0.15 | 0.17 | +0.005 |
| Solitaire Mnls | SLT | 3273 | 0.24 | 0.18 | 0.24 | +0.03 |
| North Am Tung | NTC | 3271 | 1.06 | 0.92 | 1.03 | -0.02 |
| Southern Silvr | SSV | 3151 | 1.33 | 0.75 | 1.00 | +0.30 |
| Tournigan Gold | TVC | 3092 | 2.49 | 1.90 | 2.40 | +0.15 |
Be the first to comment on "TSX Venture Exchange May 23-29"