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 |
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