TSX Venture Exchange April 10-16

The 5-day trading session ended April 16 was another period of furious gains in the junior resource sector, as evidenced by the TSX Venture Exchange Index closing at a strong 3,348.73, up 66.1 points from April 9.

The bulls overran the bears during the period, with 106 new 52-week highs versus only 21 new lows registered on the junior board.

The formerly obscure Vancouver-based explorer GGL Diamond spent another week atop the most-active list on the back of the early April announcement that it had locked up much of an 80-km-long nickel-mineralized belt situated 260 km northeast of Yellowknife, N.W.T. After trading in the low teens a couple of weeks ago and soaring as high as $1.50 last period, GGL shares settled down 18 to close at 55 with 27.3 million shares trading hands.

Another diamond explorer, Olivut Resources, topped the percentage gainer list, rising 119% to $1.75 on 5.5 million shares traded, but said it couldn’t explain the market activity. Based in Hinton, Alta., and led by president and CEO Leni Keough, Olivut has spent $7 million evaluating its new HOAM diamond project, south of Great Bear Lake in the Northwest Territories. In January, Olivut changed its name from Arrabbiata Capital Corp. and its ticker to OLV from ABC.H.

Commerce Resources shot up 49, or 74%, to $1.15 on heavy volume as it received environmental approval for its Upper Fir tantalum-niobium project near Blue River, B.C. The company is set to proceed later this year with a prefeasibility study that will incorporate metallurgical test results expected in May.

Another heavy trader was UrAsia Energy, which dropped 15 to $7.99 as 18 million shares crossed the floor. On April 12, the company obtained a final order from the Supreme Court of British Columbia, paving the way for a shareholder-approved merger with TSX-listed SXR Uranium One in late April. Under a plan of arrangement, UrAsia shareholders will receive 0.45 of an SXR share for every UrAsia share, with the resulting company to be renamed Uranium One.

Although the company hasn’t made a public filing since February, Vancouver-based Cangold surfaced as a big gainer, rising 59% to 17.5. In its most recent filing the Robert A. Archer-led company stated that, while its activities have been focused on the exploration and development of precious and base metals in Canada, principally in Ontario and B.C., it will “also be concentrating on acquiring gold and copper exploration and production properties in Mexico.”

On the down side, shares of Silver Spruce Resources dropped 50 to $1.39 as the company reported a second round of uranium drill results from the Two Time zone, a radioactive anomaly located on the CMBNW claim block, east of Snegamook Lake in central Labrador. Based in Bridgewater, N.S., Silver Spruce is exploring the property in a joint venture with Vancouver’s Universal Uranium, which ended the period similarly off 40 at $1.35.

Another loser was Triex Minerals, which sank 80 to $5.70 as it announced it was kicking off a C$1.5-million uranium exploration program this year at the Boulder Creek project in Alaska, a joint venture with Full Metal Minerals. Full Metal was up a penny to $2.49.

TSX-V most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
GGL Diamond	GGL	27342	0.74	0.48	0.55	-0.18
UrAsia Energy	UUU	18029	8.25	7.46	7.99	-0.15
Cypress Dev	CYP	16673	0.70	0.48	0.66	+0.185
Electra Gold	ELT	15680	0.24	0.09	0.11	+0.02
Skyharbour Res	SYH	15575	0.25	0.17	0.245	+0.075
Plexmar Res	PLE	15074	0.54	0.315	0.49	+0.175
Bard Vent	CBS	14901	0.295	0.21	0.235	-0.055
Pac Comox	PCM	14437	0.22	0.15	0.185	+0.03
Commerce Res	CCE	10606	1.44	0.62	1.15	+0.49
Tamerlane Vent	TAM	10542	1.70	0.89	1.35	+0.48
TSX-V greatest percentage change
VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Olivut Res	OLV	5564	1.78	0.83	1.75	+118.7
Commerce Res	CCE	10606	1.44	0.62	1.15	+74.2
Cangold	CLD	4051	0.20	0.115	0.175	+59.0
Plexmar Res	PLE	15074	0.54	0.315	0.49	+55.5
Tamerlane Vent	TAM	10542	1.70	0.89	1.35	+55.1
West High Yld	WHY	1426	0.78	0.45	0.72	+53.1
Radisson Mng	RDS	685	0.35	0.23	0.35	+52.1
VMS Vent	VMS	6385	0.32	0.185	0.30	+50.0
Newport Expl	NWX	2641	0.58	0.39	0.55	+48.6
Midasco Gold	MGC	120	0.25	0.21	0.25	+47.0
Northern Abiti	NAI	4892	0.24	0.15	0.165	-29.7
Silver Spruce	SSE	1594	1.88	1.30	1.39	-26.4
GGL Diamond	GGL	27342	0.74	0.48	0.55	-24.6
Normiska	NNC	24	0.165	0.16	0.16	-23.8
Gray Rock Res	GRK	190	0.16	0.145	0.145	-23.6
Universal Uran	UUL	2501	1.78	1.07	1.35	-22.8
Verona Dev	VDC	182	0.325	0.235	0.24	-22.5
Micrex Devel	MIX	16	0.40	0.21	0.24	-22.5
Winslow Res	WLR	111	0.10	0.09	0.09	-21.7
Dumont Nickel	DNI	7395	0.235	0.145	0.165	-21.4

TSX-V greatest value change

		VOLUME	CLOSE	CHANGE
Seabridge Gold	SEA	154329	20.50	+2.46
Dynasty Met&Mn	DMM	550201	6.70	+2.10
Wealth Minls	WML	909265	5.89	+1.59
Northern Dyn M	NDM	2452850	13.50	+1.13
Pac Booker Min	BKM	106094	11.15	+1.10
Olivut Res	OLV	5564193	1.75	+0.95
Genco Res	GGC	503797	4.75	+0.95
Geologix Ex	GIX	3097989	2.77	+0.72
Bear Creek Mng	BCM	911275	7.66	+0.71
BRC Diamond	BRC	62920	6.61	+0.71
Triex Minerals	TXM	909274	5.70	-0.80
Silver Spruce	SSE	1593910	1.39	-0.50
Keegan Res	KGN	248159	4.14	-0.49
Aranka Gold	ARK	609 75	3.50	-0.45
Mag Silver	MAG	1059093	8.06	-0.44
New Pac Metals	NUX	140105	2.95	-0.40
Universal Uran	UUL	2501185	1.35	-0.40
Norwood Res	NRS	1557705	2.78	-0.40
Hard Creek Ni	HNC	721174	2.46	-0.38
Strateco Res	RSC	5607538	3.55	-0.37