It was a bull week for the S&P-TSX Venture Composite Index as the junior board posted gains every day over the Oct. 9-15 trading session to close up 156.84 points at 3,014.41. Average daily trading volume was up considerably, at 99.2 million.
Once again, however, new highs and lows for the session did not reflect the bullish trend. A solid 43 junior explorers reached new high trading values, but 75 sunk to new lows.
Noront Resources and companies with projects near its Double Eagle discovery continued to dominate trading volumes. Noront posted a session trading volume of well over 38 million shares and closed up $2 at $5.55, an all-time high for a junior that just six weeks ago was trading around 40. Three companies working land around Double Eagle also made the top traders list: MacDonald Mines Exploration traded 43 million shares to close up 20 at 48; KWG Resources traded 22 million shares to close up 2.5 at 10.5; and Spider Resources traded 21 million shares to close up 3 at 12.
Despite having put out no news since mid-August, Blue Note Mining was also a volume leader, trading 12.3 million shares over the session to close up just 1 at 58. Similarly, Sage Gold traded over 11.5 million shares to close up 2.5 at 24; the company closed a non-brokered private placement to raise $760,000.
Reasonable copper-molybdenum grades over 371 metres from the first drill hole into the company’s Peruvian Aguila East project had Duran Ventures on a sustained climb. The drill results came out in early October but the gains kept coming through the second week, with Duran shares rising every day to close up $1.48 at $3.15, an all-time high. The company started trading on the Venture Exchange in early July, entering near $1.
Bear Creek Mining is on a similar ascent, having announced the results of 17 drill holes from the Santa Ana silver project in Peru early in the month. The company’s share price has seen a nice run since then, climbing each day to close up $1.07 at $8.45.
Good U3O8 grades in rock samples from the North Rae property in northern Quebec pushed Azimut Exploration up 84 over the trading session to close at $5.59 per share. NWT Uranium is earning a 50% interest in the project by acting as project operator and investing $2.9 million in exploration work.
Arkana Gold fell each day to close the session down 90 at $1.90. The company’s most recent news came out in June. And Wealth Minerals, which had been on a property acquisition spree over the summer, also lost ground, closing the session down 47 at $2.93.
Other movers and shakers: Waratah Coal moved up 78 to close at $2.38 after Jennings Capital analyst Ron Coll said in the Globe and Mail that he expected Waratah to peak at $5.70; and Kodiak Exploration gained 73 to close at $1.96 on the heels of significant drill results from the Hercules gold project in southern Ontario.
TSX-V greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | |||
| Golden Cariboo | GCC | 6179 | 0.08 | 0.04 | 0.08 | + | 100.0 |
| Duran Vent | DRV | 1603 | 3.33 | 1.69 | 3.15 | + | 88.6 |
| Forest Gate | FGT | 43135 | 0.30 | 0.095 | 0.20 | + | 81.8 |
| MacDonald Mns | BMK | 43211 | 0.49 | 0.27 | 0.48 | + | 71.4 |
| Intl Samuel Ex | SAZ | 3452 | 0.155 | 0.125 | 0.135 | + | 68.7 |
| Shoreham Res | SMH | 1995 | 0.60 | 0.35 | 0.59 | + | 63.8 |
| Kodiak Expl | KXL | 8438 | 1.98 | 1.29 | 1.96 | + | 59.3 |
| Condor Res | CN | 845 | 0.95 | 0.60 | 0.91 | + | 56.9 |
| Amerix Pr Mtls | APM | 1252 | 0.345 | 0.20 | 0.305 | + | 56.4 |
| Noront Res | NOT | 38881 | 5.55 | 3.01 | 5.55 | + | 56.3 |
| Boss Power | BPU | 120 | 0.76 | 0.60 | 0.60 | – | 38.1 |
| Aranka Gold | ARK | 125 | 2.80 | 1.85 | 1.90 | – | 32.1 |
| Black Bull Res | BBS | 54 | 0.105 | 0.06 | 0.085 | – | 32.0 |
| Centurion Mnls | CTN | 14 | 0.42 | 0.30 | 0.30 | – | 28.5 |
| Sidon Intl Res | SD | 401 | 0.15 | 0.11 | 0.11 | – | 26.6 |
| Rome Res | RMR | 15 | 1.00 | 0.82 | 0.88 | – | 26.6 |
| Zinco Mng | ZIM | 26 | 0.54 | 0.445 | 0.445 | – | 25.8 |
| Icon Industrs | ICN | 155 | 0.69 | 0.53 | 0.53 | – | 25.3 |
| Adroit Res | ADT | 61 | 0.20 | 0.16 | 0.18 | – | 25.0 |
| First Gold Exp | EFG | 243 | 0.245 | 0.18 | 0.20 | – | 24.5 |
TSX-V greatest value change
| VOLUME | CLOSE | CHANGE | |||
| Seabridge Gold | SEA | 210283 | 37.83 | + | 8.23 |
| Noront Res | NOT | 38881199 | 5.55 | + | 2.00 |
| Chesapeake Gld | CKG | 174190 | 8.15 | + | 1.50 |
| Duran Vent | DRV | 1602736 | 3.15 | + | 1.48 |
| SouthGobi Engy | SGQ | 221616 | 7.50 | + | 1.28 |
| Bear Creek Mng | BCM | 348439 | 8.45 | + | 1.07 |
| Pac Booker Min | BKM | 26650 | 11.20 | + | 0.90 |
| Azimut Expl | AZM | 136078 | 5.59 | + | 0.84 |
| Gobimin | GMN | 1380040 | 3.53 | + | 0.78 |
| Waratah Coal | WCI | 1171370 | 2.38 | + | 0.78 |
| Aranka Gold | ARK | 124900 | 1.90 | – | 0.90 |
| Wealth Minls | WML | 372940 | 2.93 | – | 0.47 |
| Boss Power | BPU | 120222 | 0.60 | – | 0.37 |
| Rome Res | RMR | 15000 | 0.88 | – | 0.32 |
| Rainy River Rs | RR | 713445 | 3.90 | – | 0.30 |
| Rusoro Mng | RML | 952543 | 2.18 | – | 0.26 |
| Win Eldrich Mn | WEX | 144655 | 1.89 | – | 0.21 |
| Uruguay Mnl Ex | UME | 241780 | 3.00 | – | 0.20 |
| Southern Arc | SA | 942094 | 1.49 | – | 0.20 |
| Alhambra Res | ALH | 51400 | 1.30 | – | 0.19 |
TSX-V most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | |||
| MacDonald Mns | BMK | 43211 | 0.49 | 0.27 | 0.48 | + | 0.20 |
| Forest Gate | FGT | 43135 | 0.30 | 0.095 | 0.20 | + | 0.09 |
| Noront Res | NOT | 38881 | 5.55 | 3.01 | 5.55 | + | 2.00 |
| Montello Res | MEO | 35848 | 0.265 | 0.17 | 0.225 | + | 0.055 |
| VMS Vent | VMS | 34729 | 1.27 | 0.84 | 1.20 | + | 0.14 |
| KWG Res | KWG | 22273 | 0.105 | 0.07 | 0.105 | + | 0.025 |
| Spider Res | SPQ | 20858 | 0.12 | 0.085 | 0.12 | + | 0.03 |
| Blue Note Mng | BN | 12278 | 0.60 | 0.56 | 0.58 | – | 0.01 |
| Sage Gold | SGX | 11592 | 0.255 | 0.205 | 0.24 | + | 0.025 |
| Searchgold Res | RSG | 10181 | 0.35 | 0.245 | 0.32 | + | 0.06 |
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