TSX Venture Exchange November 13-19

With the price of bullion coming off hard following recent lofty levels, the junior mining-dominated S&P-TSX Venture Composite Index shed 97.79 points over the Nov. 13-19 trading session to close down at 2,854.83 amid strong selling. Daily trading volumes for the week averaged 91.8 million shares.

The market took a decidedly bearish direction on the session with a scant 12 junior explorers managing new annual share price highs while 104 slumped to 52-week lows.

Peak Gold grabbed top volume honours for the week with almost 22.5 million shares changing hands, but the upstart gold producer closed down 3 at 60 per share on retracting bullion prices. Earlier this year, it acquired the Peak mine in Australia and Amapari mine in Brazil from Goldcorp.

Shares of MacDonald Mines Exploration pulled back 17% on volume of 21.7 million shares to close off 16 at 76 apiece. The company recently closed a $10-million financing earmarked for its VMS projects in the McFaulds Lake-area of the James Bay lowlands.

Sage Gold saw a trading volume of 16.8 million shares on the week, slipping a penny to close at 42. It closed a $5.5-million financing earmarked for its projects in the Beardmore-Geraldton greenstone belt region of northern Ontario.

Gravity West Mining continued to entice investors with pending assays from its Voltaire Lake project, in northwestern Ontario’s Sibley basin. The junior traded almost 14.2 million shares on the week, inching up half a penny to 17.5 per share. Recent drilling cut massive sulphides comprised of pyrrhotite, pyrite and chalcopyrite.

McFaulds Lake-area explorer Spider Resources saw 12.1 million shares change hands while it slipped 2 to close the week down at 11.5 per share. The company recently closed a $2.76-million financing to fund exploration on its James Bay projects.

Shares of Carmax Explorations slipped 6 to 22 apiece on trading volume of 11.4 million shares. The junior is waiting for results from recent drilling on its Eaglehead property in northern B.C.’s Quesnel Trough.

Searchgold Resources watched its shares plunge almost 30% on the session to close down 7.5 at 18.5 apiece on a trading volume of 10.7 million. The company is spinning out a new public entity to hold its Canadian gold projects while it continues to focus on its African projects.

On weekly volume of more than 10 million shares, Noront Resources closed down a buck to $4.40 per share. Drills continue to spin on its Double Eagle project in the James Bay lowlands.

Geologix Explorations posted a gain of 43 per share, closing at $2.79 on 1.2 million shares of volume. Drilling at its San Agustin project in Durango state, Mexico, returned wide intervals of gold, silver and zinc mineralization.

Shares of Magnum Uranium moved up 58%, or 25, to 68 apiece on trading volume of almost 2.2 million. A second-phase drill program recently began at the company’s San Raphael uranium project in Emery Cty., Utah.

TSX-V greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Digger Res	DIG	121	2.30	1.70	2.25	+	80.0
Queensland Mnl	QML	3933	0.61	0.39	0.56	+	60.0
Magnum Uranium	MM	2190	0.69	0.435	0.68	+	58.1
Newmac Res	NER	1407	0.70	0.45	0.64	+	47.1
Indico Res	IDI	1050	2.00	0.95	1.47	+	42.7
Shear Minls	SRM	1748	0.75	0.55	0.70	+	40.0
Mainstream Mnl	MJO	967	0.59	0.36	0.56	+	34.9
Canplats Res	CPQ	1911	0.60	0.40	0.55	+	34.1
Canadn Shield	CSP	443	0.24	0.17	0.24	+	33.3
Pac Coast Nikl	NKL	77	0.17	0.12	0.17	+	30.7
CMQ Res	CMQ	1424	0.30	0.05	0.07	–	76.6
Huntington Exp	HEI	15	0.085	0.065	0.065	–	58.0
Lyra Res	LYR	306	0.05	0.03	0.04	–	50.0
Adroit Res	ADT	152	0.21	0.16	0.16	–	40.7
MBMI Res	MBR	512	1.75	1.26	1.29	–	35.5
Bishop Gold	BSG	914	0.03	0.02	0.02	–	33.3
Great Sthn Ent	GSR	62	0.055	0.045	0.045	–	30.7
Zinco Mng	ZIM	49	0.335	0.275	0.275	–	30.3
Mountain-Wst R	MWR	53	0.18	0.15	0.15	–	30.2
Menika Mining	MML	126	0.10	0.07	0.07	–	30.0

TSX-V greatest value change

		VOLUME	CLOSE		CHANGE
Digger Res	DIG	120900	2.25	+	1.00
Exeter Res	XRC	234408	4.94	+	0.72
Indico Res	IDI	1050139	1.47	+	0.44
Geologix Ex	GIX	1195160	2.79	+	0.43
Keegan Res	KGN	274727	4.25	+	0.40
Xemplar Energy	XE	1698292	5.57	+	0.40
Sacre-Coeur Ml	SCM	534299	2.32	+	0.37
Andina Mnls	ADM	770559	4.55	+	0.29
Magnum Uranium	MM	2189560	0.68	+	0.25
Belvedere Res	BEL	312100	1.70	+	0.25
Noront Res	NOT	10071897	4.40	–	1.00
Quaterra Res	QTA	295347	3.04	–	0.80
MBMI Res	MBR	511894	1.29	–	0.71
Whitemud Res	WMK	21150	9.65	–	0.65
Pac Booker Min	BKM	16030	11.50	–	0.59
SouthGobi Engy	SGQ	455583	8.20	–	0.59
Northland Res	NAU	150505	3.25	–	0.45
Advanced Mnls	AXI	432367	2.50	–	0.43
Palmarejo S&G	PJO	527000	10.10	–	0.42
Liberty Mines	LBE	1159876	1.66	–	0.39

TSX-V most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Peak Gold	PIK	22495	0.69	0.60	0.60	–	0.03
MacDonald Mns	BMK	21732	0.95	0.74	0.76	–	0.16
Sage Gold	SGX	16804	0.49	0.355	0.42	–	0.01
Gravity West	GRW	14162	0.195	0.155	0.175	+	0 .005
Spider Res	SPQ	12129	0.135	0.11	0.115	–	0.02
Carmax Expl	CMX	11438	0.28	0.21	0.22	–	0.06
Searchgold Res	RSG	10666	0.295	0.18	0.185	–	0.075
Noront Res	NOT	10072	5.48	4.17	4.40	–	1.00
Blue Note Mng	BN	9877	0.495	0.44	0.445	–	0.045
Opact Res	OPA	9285	0.27	0.22	0.25	+	0.025