Weakening metal prices gave the junior mining-dominated S&P-TSX Venture Composite Index a 281.2-point haircut over the June 6-12 trading session, closing down 10% at 2,549.03. Average daily trading volumes further evaporated over the week at just 47.5 million shares.
Just 17 companies managed new annual highs over the week while those reaching new lows numbered 33, marking a significant shift in the bull versus bear battle.
Goldmarca continued at top spot amongst volume traders with 37 million shares changing hands, holding even at 59 apiece. A wide intercept from the company’s Condor Gold project in southeastern Ecuador returned bonanza grades of up to 16.7 grams gold per tonne and 222 grams silver per tonne over 48 metres. Goldmarca also recently acquired an adjacent land package across the border in northern Peru and lined up a $10.3-million financing.
Plexmar Resources shed a penny to close at 29 after churning through 13.4 million shares in volume. Trenching continues at its Bolsa del Diablo project in Peru, where significant high-grade gold values were encountered.
Shares in Oromonte Resources gained 12 to round out the week at 85 per share on volume of 6.9 million. Initial results from underground drilling at the company’s Gold Star mine on the Nambija project in southern Ecuador returned up to 4.5 metres of 23.3 grams gold in a skarn environment.
Results from a pair of drill programs failed to impress Beaufield Resources investors; shares in the company lost a nickel to close at 50 on volume of 5.4 million shares. The best core hole from its Opinaca project in Quebec delivered a 20-metre interval averaging 1.1 grams gold. Meanwhile, a program on its northern Ontario Hemlo-area project cut weakly anomalous gold in a 400-metre-deep hole.
Shares of Yukon Zinc lost 4.5 to close at 24.5 over the week on volume of more than 5.2 million shares. A recently completed feasibility study on the company’s Wolverine zinc-copper-lead deposit in the Yukon showed elevated cost estimates coupled with an onerous precious metals royalty structure.
Tyhee Development traded almost 5 million shares, closing the session off a penny at 36. A revised resource estimate on its Yellowknife, N.W.T., gold project reviews 8 million measured and indicated tonnes averaging 3.8 grams gold plus an additional 2.8 million inferred tonnes at 3.75 grams gold.
UrAsia Energy lost 54 to finish the week at $2.36 per share on volume of 3.7 million. This year’s production from its Akdala uranium mine in Kazakhstan is expected at 2.6 million lbs. U3O8, which will feed recently secured supply contracts.
Quebec-focused junior Strateco Resources dropped 21 to close at 84 with 3.6 million shares traded. A recent $9-million financing is earmarked primarily for its Otish Mountain-area Matoush uranium project.
Aurelian Resources rallied over 34% on the week to close at $19.00 on volume of 3.1 million. The company released a second high-grade intercept of 24 grams gold over 189 metres from its Condor project in southeastern Ecuador.
TSX-V greatest percentage change
| Volume(000s) | High | Low | Close | Change | ||
| Colibri Res | CBI | 170 | 0.165 | 0.13 | 0.165 | +50.0 |
| Tiger Intl | TGR | 128 | 0.75 | 0.56 | 0.75 | +44.2 |
| Agau Res | AGS | 190 | 0.66 | 0.465 | 0.66 | +43.4 |
| Atapa Mnrls | AML | 14 | 0.15 | 0.10 | 0.15 | +42.8 |
| United Reef | URP | 412 | 0.09 | 0.055 | 0.085 | +41.6 |
| Castillian Res | CT | 60 | 0.48 | 0.36 | 0.48 | +41.1 |
| Odin Mining | ODN | 114 | 0.35 | 0.265 | 0.35 | +40.0 |
| Aurelian Res | ARU | 3113 | 21.30 | 15.45 | 19.00 | +34.3 |
| Coniagas Res | CNY | 24 | 0.115 | 0.10 | 0.115 | +27.7 |
| Terra Nova Gld | TGC | 319 | 0.095 | 0.07 | 0.095 | +26.6 |
| New Nadina | NNA | 444 | 0.82 | 0.42 | 0.43 | -46.2 |
| Kaminak Gold | KAM | 174 | 0.60 | 0.365 | 0.365 | -37.0 |
| Tagish Lk Gold | TLG | 294 | 0.195 | 0.12 | 0.12 | -36.8 |
| Hawkeye Gold | HKO | 1517 | 0.115 | 0.07 | 0.07 | -33.3 |
| Mano River Res | MNO | 35 | 0.18 | 0.175 | 0.175 | -32.6 |
| Great Quest Me | GQ | 62 | 0.70 | 0.54 | 0.54 | -32.5 |
| Hinterland Mtl | HMI | 196 | 0.14 | 0.095 | 0.095 | -32.1 |
| Golden Goose | GGR | 343 | 0.62 | 0.44 | 0.50 | -31.5 |
| MacDonald Mns | BMK | 889 | 0.21 | 0.12 | 0.14 | -30.0 |
| Golconda Res | GA | 72 | 0.30 | 0.21 | 0.21 | -30.0 |
TSX-V greatest value change
| Volume | Close | Change | ||
| Aurelian Res | ARU | 3113339 | 19.00 | +4.86 |
| Osisko Explora | OSK | 433694 | 3.99 | +0.53 |
| Rome Res | RMR | 11600 | 2.06 | +0.26 |
| Verona Dev | VDC | 157400 | 1.37 | +0.26 |
| Northern Dyn M | NDM | 895756 | 9.00 | +0.24 |
| Tiger Intl | TGR | 128000 | 0.75 | +0.23 |
| Groundstar Res | GSA | 1501373 | 1.71 | +0.21 |
| Inspiration Mg | ISM | 737070 | 1.05 | +0.20 |
| Agau Res | AGS | 189800 | 0.66 | +0.20 |
| Hudson Res | HUD | 940378 | 1.00 | +0.18 |
| Mega Uranium | MGA | 1349571 | 5.85 | -1.35 |
| Birch Mountn | BMD | 951687 | 6.93 | -1.34 |
| Altius Mnrls | ALS | 181918 | 5.85 | -1.25 |
| First Majestic | FR | 441025 | 3.89 | -1.23 |
| Laramide Res | LAM | 687909 | 5.65 | -1.19 |
| Mexgold Res | MGR | 178053 | 5.58 | -0.77 |
| Energy Metals | EMC | 852635 | 5.40 | -0.76 |
| Polymet Mng | POM | 523948 | 3.20 | -0.75 |
| Pearl Ex & Pr | PXX | 419482 | 4.80 | -0.75 |
| Marathon PGM | MAR | 40700 | 3.50 | -0.74 |
TSX-V most active issues
| Volume(000s) | High | Low | Close | Change | ||
| Goldmarca | GML | 37062 | 0.84 | 0.46 | 0.59 | 0.00 |
| Plexmar Res | PLE | 13417 | 0.32 | 0.25 | 0.29 | -0.01 |
| Orient Res | ORR | 6918 | 1.30 | 0.73 | 0.85 | +0.12 |
| Beaufield Res | BFD | 5404 | 0.62 | 0.48 | 0.50 | -0.05 |
| Yukon Zinc | YZC | 5237 | 0.30 | 0.24 | 0.245 | -0.045 |
| Tyhee Dvlpmnt | TDC | 4943 | 0.375 | 0.34 | 0.36 | -0.01 |
| UrAsia Energy | UUU | 3690 | 2.87 | 2.3 5 |
2.36 | -0.54 |
| Strateco Res | RSC | 3616 | 1.02 | 0.81 | 0.84 | -0.21 |
| ECU Silver Mng | ECU | 3570 | 2.84 | 2.42 | 2.43 | -0.45 |
| Staccato Gold | CAT | 3326 | 0.84 | 0.61 | 0.73 | +0.05 |
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