TSX Venture Exchange – June 16-22

The S&P/TSX Venture composite index followed other stock markets around the world over the week of June 16-22, sliding backwards and losing some of the optimistic gains of recent months. The Venture board lost 54.29 points to close the week at 1,078.66, ending a three-week stint above 1,100 points.

More Venture-listed companies still achieved new 52-week highs than sank to new lows but not by much: 19 juniors reached new heights while 17 fell to new lows. Daily trading volumes weakened, averaging 83 million.

Appleton Exploration was the most heavily traded stock on the Venture board, moving 33.9 million shares to fall 15¢ to 47¢. The junior gained 270% the previous week on a strong drill result from the company’s gold project in Mali, but this week its share price settled considerably. Investor confidence may have been influenced by the resignation of a director the day after the massive share price jump.

Another junior company that traded heavily to a loss was Western Potash. Initial drill results from the company’s Milestone property in Saskatchewan failed to move investors, who are likely also unimpressed by the current price of potash. From its peak of US$1,000 per tonne last year, potassium chloride is now selling for US$750 per tonne.

The acquisition of a private exploration company with properties in Colombia was enough to propel Caerus Resource to the largest absolute gain of the week on the Venture index. Even though that gain was only 21¢, it almost doubled Caerus’s share price to 47¢. One of the company’s new properties is near TSX-listed Greystar Resources’ 11.5-million-oz. Angostura gold deposit.

Closing a $13.5-million financing pushed Andina Minerals’ share price down 29¢ to $1.40. The company will use the funds to advance its Volcan project, a 6.6-million oz. gold deposit in Chile’s Maricunga gold belt.

Similarly, San Gold received $36.9 million from the exercise of $2 and $1.50 warrants and will use the funds to continue exploring and developing the high-grade Hinge and newly discovered Cohiba zones at its Rice Lake mine. But the company’s share price fell 18¢ on the news to close at $2.10.

Cloudbreak Resources has seen its trading volume spike after picking up several mineral claims in the Yukon adjacent to Underworld Resources’ White Gold project. Over the week, Cloudbreak moved 20 million shares to close up a penny at 8¢.

The Antilla copper-molybdenum property in southern Peru is now home to a significant inferred resource, thanks to the exploration efforts of owner Panoro Minerals. The resource came in at 154.4 million tonnes grading 0.47% copper and 0.009% molybdenum.

And Axmin boosted resources at its Passendro project in the Central African Republic by 30%. Passendro now hosts 31.5 million measured and indicated tonnes grading 2 grams gold and 21.7 million inferred tonnes averaging 1.6 grams gold, for 2.3 million contained ounces gold.

TSX-V most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Appleton Expl	AEX	33864	0.61	0.40	0.47	-0.15
Cloudbreak Res	CDB	19945	0.13	0.08	0.08	+ 0.01
Q-Gold Res	QAU	10466	0.05	0.02	0.04	+ 0.01
Sage Gold	SGX	9186	0.09	0.06	0.06	-0.01
NWM Mining	COL	9138	0.06	0.04	0.05	+ 0.01
Western Potash	WPX	8452	0.69	0.42	0.43	-0.21
Goldbrook Vent	GBK	7897	0.13	0.08	0.10	+ 0.02
UraniumBayRs	UBR	7503	0.04	0.03	0.03	0.00
RomarcoMnrls	R	7238	0.90	0.74	0.78	-0.09
San Gold Res	SGR	6836	2.36	2.07	2.10	-0.18

TSX-V greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Fortune Valley	FVX	612	0.06	0.01	0.06	+500.0
Antioquia Gold	AGD	52	0.25	0.19	0.25	+150.0
PMI Gold	PMV	408	0.10	0.06	0.09	+125.0
Intl KRL Res	IRK	546	0.02	0.01	0.02	+100.0
Troymet Expl	TYE	2327	0.03	0.02	0.02	+100.0
Caerus Res	CA	2561	0.68	0.46	0.47	+ 80.7
Tribute Res	TRB	567	0.14	0.08	0.14	+ 75.0
Abington Vent	ABV	198	0.06	0.05	0.05	+ 66.6
Kalahari Res	KLA	1145	0.03	0.02	0.03	+ 50.0
MetalQuest Mnl	MQ	877	0.12	0.07	0.12	+ 50.0
Lorraine Coppr	LLC	47	0.06	0.05	0.05	-54.5
Golden Arrow R	GRG	2910	0.35	0.27	0.27	-53.4
Santa Fe Metls	SFM	513	0.20	0.09	0.09	-52.6
Micrex Devel	MIX	24	0.11	0.08	0.08	-42.8
Allyn Res	ARR	190	0.05	0.03	0.03	-40.0
Advanced Prima	APD	107	0.05	0.03	0.03	-40.0
Nebu Res	NBU	448	0.12	0.09	0.09	-35.7
Gold Summit	GSM	11	0.20	0.17	0.17	-34.6
Rupert Res	RUP	50	0.26	0.22	0.23	-34.2
Karmin Expl	KAR	28	0.29	0.23	0.23	-34.2

2.00

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Caerus Res	CA	2561443	0.47	+ 0.21
Maudore Minls	MAO	141630	+ 0.20
Mantra Mng	MAN	63100	1.08	+ 0.16
Antioquia Gold	AGD	51625	0.25	+ 0.15
Canadn Shield	EXP	59660	1.29	+ 0.13
Jazz Res	JZR	15000	0.50	+ 0.10
Tirex Res	TXX	865752	1.35	+ 0.10
Northern Rand	NRR	167000	0.24	+ 0.08
Atac Res	ATC	1580950	0.43	+ 0.08
Midway Gold	MDW	52662	0.81	+ 0.08
Intl Tower Hil	ITH	992889	3.26	-0.50
Canplats Res	CPQ	788242	1.78	-0.31
GoldenArrowR	GRG	2909695	0.27	-0.31
Andina Mnls	ADM	1895529	1.40	-0.29
Hathor Expl	HAT	2288085	1.88	-0.26
Western Potash	WPX	8451760	0.43	-0.21
Bear Creek Mng	BCM	81769	1.80	-0.20
Rare Elemnt Rs	RES	861765	1.51	-0.19
San Gold Res	SGR	6836264	2.10	-0.18
Chesapeake Gld	CKG	77160	4.01	-0.17