Despite a U.S. Memorial Day-shortened May 22-28 trading session, the S&P-TSX Venture Composite Index posted strong average daily trading volume of 91 million shares, but gave up 48.55 points to close at 3,226.13.
With 48 junior explorers touching new 52-week highs over the week, and 41 sliding to new annual lows, the market’s recent bullish trend was muted.
On a major resource boost at its Bahuerachi project in northwestern Mexico, Tyler Resources soared 88% to close the week up 44 at 94 per share on trading volume of 28 million. The revised estimate on the project’s Main zone now shows a measured and indicated metal inventory of 4.56 billion lbs. copper, 96.2 million lbs. molybdenum, 68 million oz. silver, 550,000 oz. gold and 6.3 billion lbs. zinc.
Golden Chalice Resources continued to be a strong trader with more than 16.6 million shares changing hands over the session, notching up four pennies to $1.77 per share. The Timmins, Ont.-area explorer recently boosted its land position around its Langmuir property, where drilling has cut 72.5 metres of 1.14% nickel.
With trading volume of 11 million shares, Amador Gold rallied 39% to post a 7.5 gain on the week, closing at 26.5 per share. The company has lined up a $1.1-million financing at a dime per unit, earmarked for its Ontario property portfolio and potential acquisitions.
Western Uranium saw 8.3 million shares change hands over the session, closing even at $3.65 per share. The company announced a partnership with Cameco whereby the uranium giant will take a 10% position in the junior for about $20 million. Western Uranium is advancing its Kings Valley project in Nevada.
Klondike Gold closed the week up two pennies at 12 on volume of 7.9 million shares. Recent drilling on its Matarrow property, southwest of Kirkland Lake, Ont., returned a 4.1-metre intercept of 4.6% zinc and 0.6% lead. The company also acquired a lead-zinc property in southeastern B.C.
Despite continued strong nickel prices, Crowflight Minerals pulled back slightly from its recent highs, closing down 12 at $1.03 per share on trading volume of 5.3 million shares. Having recently closed a $25-million financing, the company continues to advance its Bucko Lake nickel deposit, in northern Manitoba, where it has completed a bankable feasibility study.
Shares of uranium explorer Uracan Resources posted a 69 gain on the week, closing up 72% at $1.65 apiece on trading volume of over 5 million shares. Drilling on the company’s North Shore project, in Quebec, has turned in a number of wide uranium-mineralized intercepts.
Mag Silver saw a slight share price correction, giving up $1.70 to close at $10.74 per share on volume of almost 1.5 million shares. Drilling on the Valdecanas vein at its Juanicipio joint venture in Zacatecas state, Mexico, has extended its strike length to 1 km and returned intercepts of up to 4.3 metres grading 271 grams silver and 2.8 grams gold per tonne.
TSX-V most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Fortress Minls | FST | 29302 | 1.48 | 1.25 | 1.35 | 0.00 |
| Tyler Res | TYS | 27998 | 1.03 | 0.77 | 0.94 | +0.44 |
| Peak Gold | PIK | 20686 | 0.79 | 0.67 | 0.77 | -0.02 |
| Golden Chalice | GCR | 16665 | 2.58 | 1.66 | 1.77 | +0.04 |
| Dumont Nickel | DNI | 15122 | 0.19 | 0.13 | 0.15 | +0.02 |
| Amador Gold | AGX | 11029 | 0.31 | 0.195 | 0.265 | +0.075 |
| Norwood Res | NRS | 9611 | 1.35 | 0.92 | 0.94 | -1.24 |
| Western Uran | WUC | 8309 | 4.15 | 3.52 | 3.65 | 0.00 |
| Klondike Gold | KG | 7934 | 0.15 | 0.10 | 0.12 | +0.02 |
| Crowflight Mnl | CML | 5296 | 1.20 | 0.97 | 1.03 | -0.12 |
TSX-V greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Kruger Expl | KGC | 105 | 0.46 | 0.19 | 0.46 | +100.0 |
| Tyler Res | TYS | 27998 | 1.03 | 0.77 | 0.94 | +88.0 |
| Uracan Res | URC | 5081 | 1.65 | 0.96 | 1.65 | +71.8 |
| Great Sthn Ent | GSR | 482 | 0.14 | 0.065 | 0.11 | +69.2 |
| Millstream Min | MLM | 2844 | 0.52 | 0.35 | 0.50 | +44.9 |
| Amador Gold | AGX | 11029 | 0.31 | 0.195 | 0.265 | +39.4 |
| Kent Expl | KEX | 2062 | 0.36 | 0.22 | 0.36 | +38.4 |
| Northern Abiti | NAI | 4661 | 0.25 | 0.15 | 0.195 | +34.4 |
| Black Bull Res | BBS | 929 | 0.27 | 0.175 | 0.23 | +31.4 |
| Rupert Res | RUP | 232 | 0.65 | 0.50 | 0.65 | +30.0 |
| Tom Expl | TUM | 1567 | 0.12 | 0.08 | 0.09 | -33.3 |
| Allyn Res | ARR | 17 | 0.075 | 0.05 | 0.07 | -30.0 |
| United Reef | URP | 2976 | 0.26 | 0.175 | 0.175 | -30.0 |
| Arcturus Res | AZN | 79 | 0.105 | 0.07 | 0.09 | -28.0 |
| Manson Creek | MCK | 1283 | 0.235 | 0.165 | 0.17 | -27.6 |
| Western Troy C | WRY | 489 | 1.35 | 0.94 | 0.95 | -26.9 |
| Lucky Stk Res | LKY | 30 | 0.205 | 0.17 | 0.17 | -26.0 |
| Young-Shan Gld | GYS | 76 | 0.11 | 0.08 | 0.10 | -25.9 |
| MacDonald Mns | BMK | 788 | 0.095 | 0.06 | 0.09 | -25.0 |
TSX-V greatest value change
| VOLUME | CLOSE | CHANGE | ||
| Uracan Res | URC | 5080820 | 1.65 | +0.69 |
| Asia Gold | ASG | 150170 | 5.00 | +0.55 |
| BRC Diamond | BRC | 39800 | 7.25 | +0.44 |
| Tyler Res | TYS | 27998021 | 0.94 | +0.44 |
| Columbia Yukon | CYU | 1419825 | 1.85 | +0.42 |
| Inca Pac Res | IPR | 547565 | 2.04 | +0.42 |
| Exeter Res | XRC | 395626 | 2.78 | +0.36 |
| Hard Creek Ni | HNC | 707400 | 2.55 | +0.36 |
| Commerce Res | CCE | 1640561 | 1.75 | +0.36 |
| MBMI Res | MBR | 1190732 | 3.18 | +0.34 |
| Mag Silver | MAG | 1454765 | 10.74 | -1.70 |
| Seabridge Gold | SEA | 88803 | 15.76 | -1.40 |
| Norwood Res | NRS | 9610780 | 0.94 | -1.24 |
| Pac Booker Min | BKM | 24219 | 10.50 | -1.01 |
| First Majestic | FR | 874889 | 4.15 | -0.51 |
| Wealth Minls | WML | 418629 | 5.10 | -0.49 |
| Anooraq Res | ARQ | 777978 | 2.46 | -0.48 |
| Triex Minerals | TXM | 223225 | 4.25 | -0.48 |
| Strathmore Min | STM | 1739602 | 4.72 | -0.46 |
| Andina Mnls | ADM | 2323999 | 3.10 | -0.40 |
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