TSX Venture Exchange February 6-12

As market attention continues to focus on merger activity in the global uranium sector, the S&P-TSX Venture Composite Index rose 29.59 points to 3,004.39 over the Feb. 6-12 trading session. Average daily trading volume also rose to 97.8 million from last week’s 92 million.

Not surprisingly, UrAsia Energy was among the most actively traded stocks, following news that the company is to be swept up in a $3.1-billion all-stock takeover by Toronto-based SXR Uranium One.

Shares of UrAsia rose 64 to $6.48 on trading volume of 41 million amid reports that the combined entity will rival uranium industry leader Cameco for production, once its five mines are fully operational.

However, with uranium prices trading at all-time highs, and poised to go even higher, speculation has surfaced in published reports that SXR Uranium One may face a competing offer from the likes of BHP Billiton, or Rio Tinto.

Also active was First Narrows Resources, which traded over 13 million shares after releasing assay results last week from its Chester Copper-Polymetallic Feeder deposit in New Brunswick. The stock rose 4 to 69 apiece.

Meanwhile, after raising $6 million from a bought-deal private placement for uranium exploration in Argentina, Wealth Minerals ranked among the top-10 value gainers. The stock rose 56 to $2.75 on trading volume of more than 380,000 shares.

Eyeing uranium projects in Saskatchewan, Purepoint Uranium has secured a deal with a syndicate of underwriters to raise up to $20 million from the sale of flow-through and common shares. Purepoint shares rose 25 to $1.75 during the session. The company recently signed a joint-venture deal with UEM, permitting Purepoint to acquire up to a 50% stake in the Hook Lake uranium project in the Athabasca basin. UEM is owned equally by AREVA Resources Canada (a subdivision of French energy giant Areva) and Cameco, the world’s two largest uranium exploration, mining and milling companies.

News of a sharp increase in potential resources at its British Columbia nickel project sparked active trading in Hard Creek Nickel, sending the stock up 60 to $1.61 on volume of almost 2 million.

The company said measured and indicated resources at the Turnagain property near Dease Lake have increased by 235% from earlier estimates. The company is hoping to develop a large, low-grade, open-pit mining operation at the site.

Hard Creek is planning to spend another $7 million on drilling this year before considering whether to put itself up for sale or find a joint-venture partner.

Also active was Yukon Zinc, which closed unchanged at 25 cents. The company has just arranged a $2-million non-brokered private placement financing earmarked for advanced exploration at its Wolverine polymetallic project in the Finlayson District of southeastern Yukon.Two weeks ago, the junior released an “optimized feasibility study,” suggesting that the project is economically viable.

TSX-V greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Boss Gold Intl	BOG.H	25	1.15	0.90	0.90	+	157.1
Tribune Res	TCB	249	1.56	0.86	1.56	+	83.5
Norwood Res	NRS	5605	2.57	1.33	2.30	+	72.9
Hard Creek Ni	HNC	1905	1.92	0.98	1.61	+	59.4
Snowfield Res	SNO	6063	0.34	0.22	0.33	+	57.1
Panoro Minls	PML	1044	0.37	0.20	0.33	+	53.4
Quinto Tech	QU	1528	0.79	0.495	0.72	+	50.0
Union Gold	UN	20	0.50	0.445	0.50	+	47.0
KWG Res	KWG	7183	0.075	0.045	0.065	+	44.4
EurOmax Res	EOX	403	0.69	0.47	0.65	+	44.4
Azteca Gold	AZG	173	0.43	0.315	0.315	–	29.2
Silver Grail R	SVG	268	0.68	0.50	0.52	–	24.6
Redstar Gold	RGC	282	0.25	0.185	0.185	–	22.9
Endurance Gold	EDG	55	0.30	0.24	0.24	–	22.5
Canadn Imp Vnt	CQV	10630	0.195	0.14	0.14	–	22.2
Terra Nova Gld	TGC	33	0.08	0.07	0.07	–	22.2
Nevgold Res	NDG	57	0.51	0.45	0.51	–	21.5
Shear Minls	SRM	2648	1.28	0.88	0.98	–	20.3
Discovery-Corp	DCY	32	0.25	0.20	0.20	–	20.0
Odin Mining	ODN	84	0.31	0.24	0.24	–	20.0

TSX-V greatest value change

		VOLUME	CLOSE		CHANGE
Norwood Res	NRS	5605304	2.30	+	0.97
Intl Enexco	IEC	517727	4.01	+	0.78
Tribune Res	TCB	248999	1.56	+	0.71
UrAsia Energy	UUU	41013486	6.48	+	0.64
Hard Creek Ni	HNC	1904605	1.61	+	0.60
Wealth Minls	WML	381104	2.75	+	0.56
Boss Gold Intl	BOG.H	24899	0.90	+	0.55
Western Prospc	WNP	1306450	5.70	+	0.51
Triex Minerals	TXM	491470	5.75	+	0.50
Oromin Expl	OLE	1656813	3.50	+	0.49
Aurelian Res	ARU	962922	25.00	–	1.60
Bear Creek Mng	BCM	609720	7.90	–	0.80
Arizona Star	AZS	65950	14.00	–	0.51
Chesapeake Gld	CKG	141085	6.37	–	0.47
Northland Res	NAU	968520	2.27	–	0.39
Osisko Explora	OSK	291668	11.63	–	0.37
Rainy River Rs	RR	777186	4.40	–	0.35
Mag Silver	MAG	412998	8.15	–	0.31
Pac Booker Min	BKM	28485	7.70	–	0.30
U3O8 Corp	UWE	741480	4.70	–	0.30

TSX-V most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
UrAsia Energy	UUU	41013	7.00	5.85	6.48	+	0.64
First Narrows	UNO	13379	1.02	0.65	0.69	–	0.04
Canadn Imp Vnt	CQV	10630	0.195	0.14	0.14	–	0.04
Gravity West	GRW	9531	0.165	0.11	0.11	–	0.025
Solitaire Mnls	SLT	7469	0.355	0.285	0.32	–	0.005
Purepoint U	PTU	7200	2.30	1.49	1.75	–	0.25
KWG Res	KWG	7183	0.075	0.045	0.065	+	0.02
Alexis Minls	AMC	7151	1.40	1.02	1.25	+	0.24
Yukon Zinc	YZC	6422	0.26	0.235	0.255		0.00
Snowfield Res	SNO	6063	0.34	0.22	0.33	+	0.12