TSX Venture Exchange January 16-22

Despite some modest strengthening in gold, the junior mining-dominated S&P-TSX Venture Composite Index shed 45.35 points over the Jan. 16-22 session to close at 2,846.88. Average daily trading volumes continued to rise over the period to 77.2 million shares.

Market sentiment remained bullish on the week with 56 junior board explorers rising to new 52-week highs over the trading session versus 22 that slipped to yearly lows.

First Narrows Resources jumped to top-trading honours, rallying 118%, or 39 to close at 72 per share on volume of 25.7 million shares. Drilling on its Chester project in New Brunswick’s Bathurst mining camp returned wide, high-grade copper intersections including 25 metres of 3.43% copper and 20.3 metres of 4.37% copper. The company recently lined up a $1.5-million brokered financing.

Pele Mountain Resources saw more than 13.1 million shares change hands on the session, gaining 4 to close at $1.32. A resource estimate tabled for its Elliot Lake uranium project reviewed just over 30 million inferred tonnes averaging 0.05% U3O8 or about 33 million contained pounds U3O8.

Shares of uranium producer UrAsia Energy dropped 45 on the week to close at an even $5.00 on trading volume of 12.8 million. A recent uranium supply contract with a North American nuclear utility will see about 4 million lbs. U3O8 delivered over five years. The company also recently announced quarterly earnings of US$25.9 million generated from production at its Akdala uranium mine in Kazakhstan.

Trading in Plexmar Resources perked up on the session with 12.3 million shares changing hands and closing up a couple of pennies at 64 per share. Surface channel sampling of vein structures on its Bolsa del Diablo project in northern Peru delivered further high-grade gold values.

Simberi Mining shed 3 to close at 9 per share for the week on trading volume of more than 10.7 million shares. The company is reviewing progress of a joint-venture agreement with Democratic Republic of the Congo state-owned mining company Gcamines regarding development of the Kakanda copper-cobalt project.

Appalaches Resources traded almost 10.4 million shares over the session, notching up a half-penny to 14 per share. Exploration on its Ashini project in Quebec turned up additional uranium-bearing pegmatite veins.

Mexico-focused explorer Continuum Resources gained 35% on the week to close up 12 at 46 per share with volume of almost 6.9 million shares. Drilling on its Natividad project in Oaxaca state recently cut high-grade, vein-hosted gold and silver values in a newly discovered extension zone. The company also recently closed a $7.5-million brokered private placement.

Hudson Resources rallied 54% on the trading session to close up 41 at $1.17 per share on volume of 3.4 million shares. Preliminary mini-bulk sample results from its western Greenland diamond project returned a number of macro-sized diamonds from a 350-kg kimberlite sample.

TSX-V greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
First Narrows	UNO	25717	0.78	0.27	0.72	+118.1
Strait Gold wt	SRD.WT	213	0.34	0.24	0.30	+76.4
Hudson Res	HUD	3396	1.60	0.78	1.17	+53.9
Sanatana Diam	STA	22	0.95	0.65	0.95	+46.1
Arctic Star Di	ADD	3904	0.36	0.24	0.35	+45.8
Finlay Minrls	FYL	87	0.14	0.11	0.14	+40.0
RJK Explor	RJX.A	428	0.26	0.12	0.16	+39.1
Geodex Mnrls	GXM	2330	0.53	0.355	0.50	+38.8
Advanced Expl	AXI.H	89	0.25	0.205	0.25	+38.8
Stikine Gold	SKY	243	0.34	0.23	0.34	+38.7
Marifil Min wt	MFM.WT	26	0.05	0.03	0.03	-40.0
Odin Mining	ODN	143	0.37	0.27	0.27	-34.1
Acrex Vent	AKV	474	0.265	0.14	0.17	-33.3
Happy Ck Minls	HPY	918	1.34	0.62	0.69	-33.0
Typhoon Expl	TOO	4839	0.46	0.265	0.29	-27.5
Alpha Gold	ALQ	197	1.11	0.76	0.83	-27.1
Menika Mining	MML	43	0.11	0.095	0.095	-26.9
Fancamp Expl	FNC	21	0.22	0.17	0.17	-26.0
Young-Shan Gld	GYS	42	0.16	0.12	0.12	-25.0
Simberi Gold	SAU	10748	0.115	0.08	0.09	-25.0

TSX-V greatest value change

		VOLUME	CLOSE	CHANGE
Mansfld Mnrls	MDR	700050	3.01	+0.51
Intl Enexco	IEC	1631552	2.71	+0.51
Chesapeake Gld	CKG	53644	5.25	+0.46
Pitchstone Exp	PXP	879761	3.19	+0.44
Franconia Mnls	FRA	522072	1.80	+0.43
Western Uran	WUC	2011410	2.47	+0.41
Hudson Res	HUD	3396279	1.17	+0.41
Palmarejo S&G	PJO	433982	9.00	+0.40
U3O8 Corp	UWE	1234524	4.48	+0.40
Northland Res	NAU	3254704	1.99	+0.39
Aurelian Res	ARU	1209913	30.05	-2.55
Seabridge Gold	SEA	108250	13.89	-1.55
Coral Gold	CGR	25730	2.77	-0.89
Rainy River Rs	RR	890306	4.20	-0.55
UrAsia Energy	UUU	12820888	5.00	-0.45
Bear Creek Mng	BCM	253568	8.55	-0.39
Cons Thomp Irn	CLM	2370133	3.07	-0.38
Happy Ck Minls	HPY	917900	0.69	-0.34
Ucore Uranium	UCU	165075	1.03	-0.34
Esperanza Silv	EPZ	448822	3.38	-0.34

TSX-V most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
First Narrows	UNO	25717	0.78	0.27	0.72	+0.39
Pele Mtn Res	GEM	13129	1.62	1.16	1.32	+0.04
UrAsia Energy	UUU	12821	5.45	4.87	5.00	-0.45
Plexmar Res	PLE	12301	0.76	0.57	0.64	+0.02
Simberi Gold	SAU	10748	0.115	0.08	0.09	-0.03
Appalaches Res	APP	10356	0.18	0.13	0.14	+0.005
Canadn Imp Vnt	CQV	8129	0.18	0.135	0.16	+0.015
East West Res	EWR	7082	0.15	0.10	0.115	-0.015
Continuum Res	CNU	6868	0.56	0.33	0.46	+0.12
Solitaire Mnls	SLT	6778	0.255	0.185	0.255	+0.055