TSX Venture Exchange May 29 – June 4

A bump-up in the bullion price prompted a modest increase in the S&P-TSX Venture Composite Index over the May 29-June 4 trading session, gaining 52.88 points to close at 3,279.01. Average daily trading volumes retreated over the week, coming in at 72.8 million shares.

The market pulse showed a slightly bearish trend with 47 junior explorers managing new 52-week highs over the week, while 56 companies slumped to new annual lows.

Goldcrest Resources rocketed to the top-trader position for the period following initial drill results from its Gaoua project, in Burkina Faso. Highlights included 106 metres averaging 0.66% copper and 0.5 gram gold per tonne. The stock gained 90%, closing up 27 at 57 per share on volume of almost 13 million shares.

Penny trader IBI Corp. saw 12.5 million shares change hands on the week, posting a 0.5 gain to close at a nickel per share. IBI is launching a new private gold company focused on Uganda and East Africa.

On a gain of 64%, Golden Chalice Resources remained a strong trader over the session, closing up $1.13 at $2.90 per share on trading volume of 12.4 million shares. The Timmins, Ont.-area explorer has resumed drilling at its Langmuir property, where it recently cut 72.5 metres of 1.14% nickel.

Emerging producer Peak Gold traded more than 11 million shares, notching up two pennies to close at 79 per share. Recently acquiring the Peak mine, in Australia, and Amapari, in Brazil, from Goldcorp, the company forecasts 2007 gold output of 215,000 oz.

Amador Gold traded weekly volume of almost 8.4 million shares and posted a 5.5 gain to close up 21% at 32 per share. The company recently lined up a modest $1.1-million financing at a dime per unit.

Aspiring nickel producer Crowflight Minerals moved up 6 to $1.09 per share on volume of 8.1 million shares. Its latest drilling cut 10 metres of 1.35% nickel at Halfway Lake, in northern Manitoba’s Thompson Nickel Belt, about 20 km north of its Bucko Lake nickel deposit. Construction of a mine at Bucko Lake is under way, with startup anticipated in early 2008.

On trading volume of 7.9 million shares, Sparton Resources closed up 57% to post a 16 gain to 44 per share. The company plans to boost its interest to 80% in a secondary uranium recovery program eyeing amounts of the metal in waste coal ash in China.

Posting a 23% gain on trading volume of 7.4 million shares, Starcore International Ventures closed up 16 at 85 per share. Earlier this year, the company purchased the San Martin gold-silver mine, in Mexico, from Goldcorp subsidiary Luismin.

A 104.9-metre intercept grading 283 grams silver and 2.5 grams gold from Continuum Resources’ 24%-owned San Jose project, in Mexico, lifted the company’s stock 16%, closing up 8 at 58 per share. The project is a joint venture with Fortuna Silver Mines, which holds 76%.

TSX-V greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Sedex Mng	SDN	5150	0.29	0.135	0.29	+	123.0
Silverstone wt	SST_T	717	1.35	0.56	1.35	+	114.2
Coronation Mnl	CMV	5958	0.37	0.165	0.335	+	103.0
Goldcrest Res	GCL	12947	0.85	0.285	0.57	+	90.0
Darnley Bay	DBL	858	0.445	0.24	0.44	+	83.3
Golden Chalice	GCR	12454	3.00	1.57	2.90	+	63.8
Sparton Res	SRI	7910	0.485	0.285	0.44	+	57.1
Verdstone Gold	VGC	796	0.195	0.11	0.17	+	54.5
Pac Casc Minls	PCV	299	0.45	0.33	0.45	+	50.0
Dajin Res	DJI	671	0.43	0.26	0.40	+	48.1
Redhawk Res	RDK	464	0.74	0.62	0.62	–	58.1
Kent Expl	KEX	1723	0.375	0.24	0.24	–	33.3
Luxor Ind	LRL	20	0.065	0.045	0.045	–	30.7
Erin Ventures	EV	1417	0.145	0.09	0.105	–	27.5
Intl Green Ice	IGC	23	0.55	0.47	0.55	–	24.6
Kodiak Expl	KXL	2883	0.85	0.57	0.61	–	23.7
Gold World Res	GDW	302	0.12	0.10	0.10	–	23.0
Pac Comox	PCM	683	0.125	0.10	0.10	–	23.0
Great Sthn Ent	GSR	215	0.11	0.08	0.085	–	22.7
Goldminco	GCP	252	0.095	0.055	0.09	–	21.7

TSX-V greatest value change

		VOLUME	CLOSE		CHANGE
Azimut Expl	AZM	377965	8.10	+	1.69
MBMI Res	MBR	3509451	4.62	+	1.44
Seabridge Gold	SEA	109379	17.10	+	1.34
Northern Dyn M	NDM	867899	14.23	+	1.28
Golden Chalice	GCR	12454301	2.90	+	1.13
Columbia Yukon	CYU	2411700	2.70	+	0.85
Pan Oce Exp	POE	878109	4.85	+	0.75
Silverstone wt	SST_T	716611	1.35	+	0.72
SilverStone Rs	SST	804627	3.24	+	0.70
Northland Res	NAU	1050626	4.10	+	0.70
Redhawk Res	RDK	464100	0.62	–	0.86
Arizona Star	AZS	24402	12.37	–	0.63
U3O8 Corp	UWE	462045	2.80	–	0.60
Pac Booker Min	BKM	14616	10.00	–	0.50
Rome Res	RMR	17500	1.74	–	0.45
Powertech Uran	PWE	717042	2.86	–	0.43
Commerce Res	CCE	1482477	1.39	–	0.36
Amarillo Gold	AGC	262200	1.25	–	0.34
Salazar Res	SRL	118960	2.83	–	0.34
Inca Pac Res	IPR	321780	1.72	–	0.32

TSX-V most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Goldcrest Res	GCL	12947	0.85	0.285	0.57	+	0.27
IBI Corp	IBI	12466	0.06	0.045	0.05	+	0.005
Golden Chalice	GCR	12454	3.00	1.57	2.90	+	1.13
Peak Gold	PIK	11190	0.80	0.72	0.79	+	0.02
Amador Gold	AGX	8384	0.335	0.26	0.32	+	0.055
Crowflight Mnl	CML	8127	1.10	0.93	1.09	+	0.06
Sparton Res	SRI	7910	0.485	0.285	0.44	+	0.16
Cypress Dev	CYP	7487	0.48	0.36	0.45	+	0.015
Starcore Int V	SAM	7400	0.89	0.68	0.85	+	0.16
Continuum Res	CNU	6666	0.59	0.48	0.58	+	0.08