Solid metal prices coupled with further mining mergers continued to buoy the S&P-TSX Venture Composite Index, which gained 68.41 points to close up 2.5% at 2,761.29 over the Aug. 29-Sept. 1 session. Average daily trading volumes remained strong over the Labour Day holiday-shortened week, at 55.4 million.
Market pulse stayed bullish over the period with 38 companies touching new annual highs and 25 explorers sliding to 52-week lows.
Volume frontrunner Plexmar Resources traded 22.3 million shares to close the week up 15 at $1.12. The market is still enamoured with its Bolsa del Diablo gold project in northern Peru and its recent acquisition of the Escondida project across the border in southern Ecuador.
Shares of Searchgold Resources gained 35% to 13.5 apiece on over 12 million shares; the company recently received a second cash payment of $400,000 from African-based mining company Managem for the Bakoudou-Magnima joint venture in Gabon.
Trading 10.8 million shares, Sage Gold closed up 2.5 at 14 over the session. A 60-kg composite sample from the Cane gold zone at its recently optioned Onaman property, in northern Ontario’s Geraldton-Beardmore greenstone belt, returned high-grade silver values in addition to significant gold, lead and zinc assays. In addition, 15 channel samples from the Lynx No. 2 zone returned an average of 5.6% copper and 53 grams silver per tonne over 15 metres of strike and across 2.5 metres of width.
Further high-grade gold intercepts at Mount Kare propelled Madison Minerals to a gain of 117% on the week, closing at $1.17 per share on volume of almost 8.7 million. Drilling by Buffalo Gold on the Papua New Guinea joint-venture project recently returned up to 40 metres of 15.3 grams gold per tonne.
Venezuelan-focused junior gold explorer Truimph Gold saw 8.1 million shares change hands, gaining 4.5 to close at 12. The company reports it is reviewing a recently completed preliminary economic assessment on its Guariche project in Bolivar state.
UrAsia Energy rebounded from a recent decline to close up a quarter at $3.00 per share on trading volume of more than 5 million. With U3O8 production on-stream from its Akdala mine in Kazakhstan, the company was recently listed on the London Stock Exchange’s AIM exchange and has been touted by a well-known newsletter writer.
Discovery of a new gold zone at its Baffin Island project boosted Commander Resources 31% to close at 92 per share on volume of over 4.3 million.
Shares of Anglo-Canadian Uranium gained 21 to close the trading session at $1.03 apiece on volume of over 3.8 million. The company recently acquired the Wild Steer claims in Colorado, which host two past-producing uranium and vanadium mines.
PolyMet Mining rallied $1.03 to close the week at $3.98 per share on volume of 2.9 million. The company is completing a feasibility study on its NorthMet copper-nickel-precious metals project and recently added an AMEX listing.
TSX-V greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Madison Minls | MMR | 8670 | 1.23 | 0.65 | 1.17 | +116.6 |
| Sutter Gold | SGM | 2439 | 0.66 | 0.27 | 0.62 | +110.1 |
| Triumph Gold | TAU | 8102 | 0.13 | 0.07 | 0.12 | +60.0 |
| New Shoshoni V | NSV | 707 | 0.25 | 0.16 | 0.25 | +56.2 |
| Golden Tag | GOG | 1156 | 0.54 | 0.305 | 0.54 | +50.0 |
| Happy Ck Minls | HPY | 432 | 0.91 | 0.57 | 0.84 | +47.3 |
| Orient Res | ORR | 3345 | 0.97 | 0.67 | 0.86 | +43.3 |
| Sacre-Coeur Ml | SCM | 198 | 1.80 | 1.22 | 1.70 | +41.6 |
| Horseshoe Gld | HSX | 104 | 0.40 | 0.30 | 0.40 | +37.9 |
| Noront Res | NOT | 489 | 0.22 | 0.145 | 0.22 | +37.5 |
| San Telmo Res | STA | 120 | 0.75 | 0.50 | 0.50 | -37.5 |
| Glen Hawk Minl | GHM | 486 | 0.16 | 0.105 | 0.11 | -26.6 |
| Altima Res | ARH | 675 | 0.47 | 0.36 | 0.37 | -26.0 |
| West High Yld | WHY | 19 | 0.45 | 0.40 | 0.45 | -25.0 |
| Silverstone wt | SST.WT | 86 | 0.12 | 0.065 | 0.09 | -25.0 |
| Panoro Minls | PML | 58 | 0.26 | 0.23 | 0.23 | -23.3 |
| Golden Oasis | GOT | 20 | 0.355 | 0.35 | 0.35 | -23.0 |
| Colibri Res | CBI | 16 | 0.12 | 0.105 | 0.105 | -22.2 |
| Marifil Min wt | MFM.WT | 40 | 0.14 | 0.14 | 0.14 | -20.0 |
| Midlands Minls | MEX | 18 | 0.23 | 0.20 | 0.20 | -20.0 |
TSX-V greatest value change
| VOLUME | CLOSE | CHANGE | ||
| Polymet Mng | POM | 2915095 | 3.98 | +1.03 |
| First Majestic | FR | 573393 | 4.90 | +0.90 |
| Madison Minls | MMR | 8670247 | 1.17 | +0.63 |
| Seabridge Gold | SEA | 75150 | 16.00 | +0.62 |
| McChip Res | MCS | 10375 | 3.15 | +0.55 |
| Win Eldrich Mn | WEX | 44133 | 2.17 | +0.51 |
| Sacre-Coeur Ml | SCM | 197865 | 1.70 | +0.50 |
| Northern Dyn M | NDM | 200009 | 9.40 | +0.50 |
| Keegan Res | KGN | 173920 | 2.03 | +0.43 |
| Midway Gold | MDW | 228425 | 2.90 | +0.42 |
| Altius Mnrls | ALS | 187989 | 7.65 | -0.35 |
| San Telmo Res | STA | 120000 | 0.50 | -0.30 |
| Mishibishu Gol | MGO | 14000 | 3.10 | -0.29 |
| Osisko Explora | OSK | 298431 | 6.88 | -0.27 |
| Tiger Intl | TGR | 26569 | 1.52 | -0.26 |
| Bravo Vent | BVG | 2908532 | 1.18 | -0.17 |
| AuEx Vent | XAU | 133144 | 2.09 | -0.16 |
| Azimut Expl | AZM | 54606 | 1.90 | -0.15 |
| Messina Minls | MMI | 168425 | 1.44 | -0.15 |
| Aurelian Res | ARU | 1293257 | 29.75 | -0.15 |
TSX-V most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Plexmar Res | PLE | 22314 | 1.27 | 1.03 | 1.12 | +0.15 |
| Searchgold Res | RSG | 12032 | 0.145 | 0.095 | 0.135 | +0.035 |
| Sage Gold | SGX | 10845 | 0.17 | 0.115 | 0.14 | +0.025 |
| Madison Minls | MMR | 8670 | 1.23 | 0.65 | 1.17 | +0.63 |
| Triumph Gold | TAU | 8102 | 0.13 | 0.07 | 0.12 | +0.045 |
| UrAsia Energy | UUU | 5022 | 3.00 | 2.71 | 3.00 | +0.25 |
| Cypress Dev | CYP | 4341 | 0.27 | 0.18 | 0.255 | +0.065 |
| Commander Res | CMD | 4336 | 0.95 | 0.63 | 0.92 | +0.22 |
| Skyharbour Res | SYH | 4069 | 0.145 | 0.10 | 0.13 | +0.02 |
| Anglo-Can Uran | URA | 3822 | 1.04 | 0.84 | 1.03 | +0.21 |
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