The junior mining-dominated TSX Venture Composite Index rang in the new year with a bit of a hangover, shedding the previous week’s gains to close down 5.2%, or 155.43 points, at 2,831.65 for the Jan. 2-8 session. Average daily trading volumes remained about the same over the period at 68.5 million shares.
Despite the market drop, sentiment remained bullish over the trading session with 72 junior board explorers rising to new 52-week highs against just 15 that slid to yearly lows.
Shares of uranium producer UrAsia Energy gave back some ground to close down 56 at $4.81 apiece on trading volume of almost 11 million. The company recently announced earnings of US$25.9 million for its latest quarter. UrAsia operates the Akdala uranium mine and holds the South Inkai deposit and 30% of the Kharassan project, all in Kazakhstan.
Noront Resources continued to trade strong volume with 9.7 million shares changing hands and gaining 6 to close at 69. Recent drill results from its Windfall project in Quebec returned 10 metres of 5.1 grams gold following an earlier high-grade 4.8-metre intercept of 1,792.9 grams gold per tonne. The company recently closed a $15-million brokered financing.
A high-grade nickel intercept propelled Starfire Minerals to trade almost 9.7 million shares and gain 6 to close at 25.5 per share. Drilling at its Langmuir project near Timmins, Ont., returned up to 5.5 metres of 4.5% nickel.
Uranium-focused junior Santoy Resources set a new high, touching $1.13 per share during the week but closing down 8 at 91 on volume of 8.8 million shares. The company recently returned U3O8 assays from its Fish Hawk Lake project in Labrador’s Central Mineral Belt and closed a $1.1-million financing.
On trading volume of over 8.5 million shares, Yukon Zinc shed two pennies on the session to close at 28. The prospective zinc developer has seen some renewed market interest in its Wolverine project, in the Yukon, with strengthened prices for the metal.
Recent newsletter coverage helped boost shares of Pele Mountain Resources by 34%, closing up 34 at $1.34 apiece on volume of 8 million. The company recently acquired the Pardee uranium project in northern Ontario’s Elliot Lake area from CanAlaska Uranium. Pardee saw work by Rio Algom in the mid-1970s and has a historical estimate of about 24.7 million tonnes grading 0.052% U3O8.
Following drill results from its Bjorkdal gold mine in Sweden, shares of Gold-Ore Resources gained 42% to close up 23 at 78 apiece on volume of 7.7 million. The program returned intercepts of up to 7.3 metres of 18.6 grams gold per tonne.
Shares in Uranium City Resources dropped 25% after drilling from the east target at the company’s northern Saskatchewan uranium project returned grades of up to 0.32% U3O8 over 4 metres. The stock closed down 16 at 49 per share on trading volume of 3.3 million shares. Other holes in the initial program cut 0.5- to 6-metre intercepts ranging from 0.04% to 0.1% U3O8.
TSX-V most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| UrAsia Energy | UUU | 10985 | 5.50 | 4.58 | 4.81 | -0.56 |
| Noront Res | NOT | 9717 | 0.74 | 0.63 | 0.69 | +0.06 |
| Starfire Mnrls | SFR | 9689 | 0.38 | 0.24 | 0.255 | +0.06 |
| Santoy Res | SAN | 8802 | 1.13 | 0.86 | 0.91 | -0.08 |
| Yukon Zinc | YZC | 8553 | 0.325 | 0.27 | 0.28 | -0.02 |
| Pele Mtn Res | GEM | 8014 | 1.49 | 1.01 | 1.34 | +0.34 |
| Canadn Imp Vnt | CQV | 7968 | 0.14 | 0.105 | 0.125 | +0.01 |
| Gold Ore Res | GOZ | 7754 | 0.85 | 0.56 | 0.78 | +0.23 |
| Cons Gold Win | CGW | 7641 | 0.175 | 0.15 | 0.16 | -0.02 |
| Shear Minls | SRM | 5083 | 1.45 | 0.92 | 1.00 | -0.04 |
TSX-V greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Great Sthn Ent | GSR | 2952 | 0.10 | 0.045 | 0.09 | +125.0 |
| Colibri Res wt | CBI.WT | 21 | 0.08 | 0.05 | 0.08 | +60.0 |
| Newport Expl | NWX | 1462 | 0.50 | 0.235 | 0.405 | +58.8 |
| Orbite Expl A | ORT.A | 131 | 0.175 | 0.095 | 0.155 | +55.0 |
| RJK Explor | RJX.A | 383 | 0.10 | 0.08 | 0.10 | +42.8 |
| Gold Ore Res | GOZ | 7754 | 0.85 | 0.56 | 0.78 | +41.8 |
| Highbank Res | HBK | 645 | 0.35 | 0.24 | 0.31 | +40.9 |
| Aurea Mng | MXA | 304 | 0.23 | 0.155 | 0.21 | +40.0 |
| Marifil Min wt | MFM.WT | 150 | 0.12 | 0.07 | 0.07 | +40.0 |
| Argent Mng | AMG | 118 | 0.19 | 0.135 | 0.185 | +37.0 |
| Morgain Mnls | MGM | 360 | 0.40 | 0.31 | 0.31 | -35.4 |
| Strait Gold wt | SRD.WT | 15 | 0.17 | 0.17 | 0.17 | -32.0 |
| Goldmark | GMK | 20 | 0.28 | 0.275 | 0.275 | -31.2 |
| Rupert Res | RUP | 261 | 0.51 | 0.39 | 0.40 | -29.8 |
| Jetcom | JTM | 904 | 0.245 | 0.175 | 0.175 | -27.0 |
| Uranium City R | UCR | 3345 | 0.72 | 0.49 | 0.49 | -24.6 |
| Williams Creek | WCX | 229 | 0.31 | 0.25 | 0.265 | -24.2 |
| Freeport Res | FRI | 35 | 0.59 | 0.49 | 0.49 | -23.4 |
| Novawest Res | NVE | 2001 | 0.28 | 0.205 | 0.215 | -23.2 |
| Orex Expl | OX | 94 | 0.17 | 0.15 | 0.15 | -23.0 |
TSX-V greatest value change
| VOLUME | CLOSE | CHANGE | ||
| Osisko Explora | OSK | 1544617 | 12.44 | +1.37 |
| Esperanza Silv | EPZ | 1052330 | 4.03 | +0.83 |
| Pele Mtn Res | GEM | 8014376 | 1.34 | +0.34 |
| Crosshair E&Mg | CXX | 2357198 | 3.65 | +0.33 |
| Full Metal Mnl | FMM | 738557 | 2.45 | +0.29 |
| Ultra Uranium | ULU | 2227117 | 1.79 | +0.23 |
| Gold Ore Res | GOZ | 7753894 | 0.78 | +0.23 |
| Mosquito Cons | MSQ | 88700 | 1.57 | +0.21 |
| Arizona Star | AZS | 185275 | 14.00 | +0.20 |
| First Majestic | FR | 771211 | 5.15 | +0.20 |
| Aurelian Res | ARU | 805384 | 28.46 | -2.54 |
| Seabridge Gold | SEA | 54775 | 14.25 | -2.30 |
| Marathon PGM | MAR | 56417 | 3.43 | -0.73 |
| Rainy River Rs | RR | 943746 | 4.82 | -0.73 |
| Nautilus Minls | NUS | 403919 | 4.55 | -0.65 |
| Northern Dyn M | NDM | 619663 | 8.88 | -0.62 |
| ECU Silver Mng | ECU | 2207600 | 2.88 | -0.58 |
| UrAsia Energy | UUU | 10984547 | 4.81 | -0.56 |
| Western Prospc | WNP | 319193 | 4.90 | -0.55 |
| Azimut Expl | AZM | 127096 | 4.40 | -0.51 |
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