A modest bullion price pullback coupled with swings in the U.S. dollar prompted an 85.91-point drop on the S&P-TSX Venture Composite Index over the April 24-30 trading session, closing at 3,265.92. Average daily trading volumes on the junior board also retracted slightly on the week at 88.8 million shares.
The number of companies hitting new 52-week highs also relaxed over the week at 56, but still outstripped the 28 junior explorers that slipped to new annual lows.
On strengthening zinc and silver prices, prospective developer Yukon Zinc grabbed top trading honours with 18.3 million shares changing hands, closing the week up 3.5 at 23.5 per share. The company recently closed a $10.2-million brokered private-placement financing earmarked for its Wolverine zinc-silver project in southwestern Yukon.
U.S. Silver saw over 14.5 million shares change hands to close at $1.19 per share, posting a 9 gain. The company recently boosted silver reserves at its Galena mine complex, in northern Idaho, by about 40%.
Resampling of old drill core from its Maracas platinum-palladium project in Bahia, Brazil, boosted shares of Largo Resources by 25%; the company’s stock closed the session up 16 at 80 apiece on trading volume of 11.6 million shares. Intervals of up to 9 metres averaging 1.1 grams platinum per tonne were encountered.
GGL Diamond continued to post strong volume with 10.9 million shares changing hands, but slipped 11 to close the week at 62 per share. The junior expects to resume exploration by July on its large prospective nickel belt landholdings in the Northwest Territories.
Following a takeover offer by TSX-listed Mega Uranium, shares of Nu Energy Uranium shot up 39% on the week to post a $1.25 gain; the stock closed at $4.45 per share on trading volume of over 3.8 million shares.
Shares of Franconia Minerals posted a 28% gain over the session, closing up 50 at $2.30 apiece. The company recently closed a pair of financings totalling about $17.7 million to advance prefeasibility studies on the Maturi-Birch Lake platinum group element-nickel-copper project in northeastern Minnesota.
Surface sampling results from Southern Arc Minerals’ J3 prospect, in Indonesia, rallied the company’s stock 90% to close at 74 per share on trading volume of almost 5.3 million shares. Channel sampling returned 3.6 metres grading 6.8 grams gold and 123 grams silver per tonne. Sampling on another of its Indonesian projects, Mencanggah, returned up to 2 metres of 95 grams gold.
Prospective iron ore developer New Millennium Capital posted a 43% gain on the week, closing at 70 per share on 3.2 million shares of volume. The junior is advancing the LabMag iron ore project in Labrador.
Shares of Olivut Resources rallied 24%, closing up 46 at $2.36 apiece on trading volume of 3.4 million. The company has lined up an $8.05-million financing for exploration of its Hoam diamond project in the southwestern Northwest Territories.
TSX-V most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Yukon Zinc | YZC | 18351 | 0.25 | 0.20 | 0.235 | +0.035 |
| US Silver | USA | 14564 | 1.35 | 1.03 | 1.19 | +0.09 |
| Largo Res | LGO | 11601 | 0.89 | 0.66 | 0.80 | +0.16 |
| GGL Diamond | GGL | 10890 | 0.77 | 0.59 | 0.62 | -0.11 |
| Cloudbreak Res | CDB | 10706 | 0.235 | 0.17 | 0.195 | +0.015 |
| Afri-Can Marin | AFA | 8786 | 0.325 | 0.27 | 0.29 | +0.005 |
| Skyharbour Res | SYH | 8113 | 0.23 | 0.20 | 0.21 | -0.015 |
| Cypress Dev | CYP | 8015 | 0.64 | 0.52 | 0.57 | -0.04 |
| Beartooth Plat | BTP | 7556 | 0.175 | 0.15 | 0.17 | 0.00 |
| TNR Gold | TNR | 7382 | 0.25 | 0.195 | 0.21 | -0.045 |
TSX-V greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Argent Mng | AMG | 30 | 0.175 | 0.13 | 0.15 | +172.7 |
| Southern Arc | SA | 5281 | 0.76 | 0.385 | 0.74 | +89.7 |
| Lucky Stk Res | LKY | 317 | 0.34 | 0.12 | 0.22 | +76.0 |
| Inter-Rock Mnl | IRO | 37 | 0.15 | 0.08 | 0.15 | +50.0 |
| Black Bull Res | BBS | 1434 | 0.19 | 0.115 | 0.17 | +47.8 |
| New Millen Cap | NML | 3196 | 0.79 | 0.49 | 0.70 | +42.8 |
| Nu Energy Uran | NU | 3843 | 5.02 | 3.06 | 4.45 | +39.0 |
| Pac Imp Mines | PPM | 35 | 0.275 | 0.23 | 0.275 | +34.1 |
| Noble Metal Gr | NMG | 180 | 0.24 | 0.17 | 0.24 | +33.3 |
| McVicar Res | MCV | 233 | 1.02 | 0.75 | 1.00 | +29.8 |
| Arcturus Res | AZN | 115 | 0.10 | 0.08 | 0.085 | -39.2 |
| Mano River Res | MNO | 38 | 0.20 | 0.17 | 0.17 | -32.0 |
| Dynasty Gold | DYG | 894 | 0.35 | 0.215 | 0.235 | -30.8 |
| Medallion Res | MDL | 33 | 0.405 | 0.345 | 0.345 | -29.5 |
| Huntington Exp | HEI | 75 | 0.13 | 0.095 | 0.11 | -29.0 |
| Tiger Intl | TGR | 16 | 0.40 | 0.365 | 0.385 | -28.7 |
| Zappa Res | ZPA | 736 | 0.24 | 0.18 | 0.185 | -26.0 |
| Micrex Devel | MIX | 23 | 0.47 | 0.24 | 0.415 | -25.8 |
| Jantar Res | JR | 140 | 0.16 | 0.12 | 0.12 | -25.0 |
| Finlay Minrls | FYL | 40 | 0.21 | 0.165 | 0.165 | -25.0 |
TSX-V greatest value change
| VOLUME | CLOSE | CHANGE | ||
| Nu Energy Uran | NU | 3843380 | 4.45 | +1.25 |
| Franconia Mnls | FRA | 413687 | 2.30 | +0.50 |
| Olivut Res | OLV | 3389388 | 2.36 | +0.46 |
| Mishibishu Gol | MGO | 615932 | 7.05 | +0.45 |
| Southern Arc | SA | 5280586 | 0.74 | +0.35 |
| Atacama Min | AAM | 381400 | 1.36 | +0.29 |
| Icon Industrs | ICN | 1396720 | 1.29 | +0.29 |
| Salazar Res | SRL | 1101488 | 3.65 | +0.25 |
| Azimut Expl | AZM | 255104 | 6.25 | +0.25 |
| Pac Booker Min | BKM | 26142 | 12.10 | +0.24 |
| Seabridge Gold | SEA | 99599 | 17.97 | -1.92 |
| Dynasty Met&Mn | DMM | 412655 | 5.66 | -0.97 |
| Powertech Uran | PWE | 1052237 | 3.30 | -0.77 |
| Nautilus Minls | NUS | 412868 | 4.75 | -0.75 |
| Liberty Mines | LBE | 2979468 | 3.94 | -0.71 |
| First Majestic | FR | 2078168 | 4.51 | -0.69 |
| Sacre-Coeur Ml | SCM | 259200 | 2.81 | -0.66 |
| Triex Minerals | TXM | 468698 | 4.80 | -0.60 |
| Strathmore Min | STM | 946094 | 4.35 | -0.59 |
| JNR Res | JNN | 1303907 | 3.37 | -0.58 |
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