TSX VENTURE EXCHANGE -JUNE 7-11

The second week of June did not start well for the S&P/TSX Venture composite index, which fell for the first three days of the June 7-11 period, before managing two days of gains. By the end of the week, the board was off 4.52 points at 1460.4. Daily trading volumes remained soft, averaging 82.9 million.

Medoro Resources was the week’s top trader, moving 21 million shares to climb 2¢ to 73¢. The company amended its joint-venture acquisition of the assets of bankrupt Colombian miner Frontino Gold Mines, instead of splitting the US$200-million price tag evenly with privately-held Gran Colombia Gold.

Gran Colombia will now pay the entire amount to receive 95% ownership. Medoro could increase its stake from 5% to 50% by providing its half of the cost at any point within the next year. Medoro plans a 1-for-3 share rollback. The company has 414 million shares outstanding.

Rainy River Resources bucked the negative trend, gaining 21¢ to finish at $6.25 on news of further high-grade intercepts from the 433 zone at the company’s namesake project in northwest Ontario.

A hit returning 128.5 grams gold per tonne over 5.5 metres extended the zone’s plunge to 500 metres while an intercept grading 76 grams gold over 1.5 metres added 100 metres to the zone’s eastern strike extent.

Drill results from Indonesia extending the Miwah Main gold zone roughly 100 metres to the north did nothing for East Asia Minerals’ share price, which lost $1.09 over the week — more than any other junior company — to close at $6.04. Hole 29 cut 104 metres grading 1.07 grams gold, defining a 600-metre north-south width for the zone, which spans 1.2 km east to west.

ATW Gold closed the sale of its Burnakura gold mine in Western Australia, to Australian company Jinka Minerals, for A$5 million. ATW brought the mine into production in March 2009, two years after purchasing it from previous owners unable to make the operation run economically, but six months later put it on care and maintenance after a revised block model indicated mineralization much less consistent than previously thought.

At the time, ATW was also dealing with the legal fallout of a cancelled merger and the economic strains of a merger-contingent loan that the company had difficultly repaying.

In the last year, the company’s share price has fallen below 10¢ from 80¢.

After two years of suspended operations pursuant to Ecuador’s mining mandate, Salazar Resources received authorization to restart exploration activities and now has renewed title to its mining concessions. Now the company is embarking on an 18,000-metre drill campaign.

The news pushed Salazar’s share price up all week to finish up 40¢ at $1.12.

TSX-V most active issues
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Medoro Res	MRS	21156	0.84	0.71	0.73	+ 0.02
Golden Hope	GNH	13035	0.48	0.25	0.41	+ 0.13
KWG Res	KWG	10797	0.14	0.12	0.12	-0.01
Gold Bulln Dev	GBB	8232	0.52	0.43	0.49	+ 0.05
Spider Res	SPQ	8129	0.14	0.14	0.14	0.00
Avion Res	AVR	8091	0.53	0.49	0.51	0.00
Arctic Star Di	ADD	6978	0.05	0.04	0.04	0.00
Afri-Can Marin	AFA	6826	0.16	0.10	0.11	-0.01
Everett Minls	EAR	6735	0.07	0.05	0.05	-0.01
RainyRiverRs	RR	6001	6.66	5.93	6.25	+0.21

TSX-V greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Palladon Vent	PLL	2505	0.07	0.03	0.06	+ 200.0
Getty Copper	GTC	453	0.09	0.04	0.05	+ 150.0
Goldbank Mng	GLB	38	0.20	0.12	0.20	+ 66.6
Tawsho Mng	TAW	618	0.23	0.14	0.23	+ 64.2
Reunion Gold	RGD	806	0.24	0.16	0.19	+ 58.3
Asia Now Res	NOW	21	0.27	0.17	0.26	+ 52.9
Taranis Res	TRO	43	0.18	0.12	0.18	+ 50.0
Nevada Expl	NGE	444	0.08	0.06	0.06	+ 50.0
Golden Hope	GNH	13035	0.48	0.25	0.41	+ 46.4
Trio Gold Corp	TGK	1291	0.19	0.12	0.19	+ 46.1
Dolly Varden R	DLV	11	0.21	0.18	0.18	-40.0
Knick Expl	KNX	229	0.24	0.16	0.16	-38.4
Augyva Mng	AUV	45	0.22	0.14	0.14	-36.3
Lysander Minls	LYM	21	0.18	0.14	0.18	-35.7
Sable Res	SAE	69	0.14	0.11	0.12	-33.3
Lithic Res	LTH	548	0.15	0.09	0.10	-28.5
Silver Lake Rs	SKZ	29	0.10	0.09	0.10	-28.5
Terra Vent	TAS	1501	0.45	0.32	0.33	-26.6
Bison Gold Res	BGE	126	0.08	0.06	0.06	-25.0
Amador Gold	AGX	1984	0.04	0.03	0.03	-25.0

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Pac Booker Min	BKM	39310	7.99	+ 1.01
Macarthur Mnl	MMS	351475	1.92	+ 0.37
Universal Powr	UNX	2886066	1.99	+ 0.30
Salazar Res	SRL	750846	1.12	+ 0.30
Sunward Res	SWD	125500	1.20	+ 0.27
Brett Res	BBR	444950	3.77	+ 0.27
Ra iny River Rs	RR	6000604	6.25	+ 0.21
Mayen Mnls	MYM	94000	0.80	+ 0.19
Gee-Ten Vent	GTV	24101	0.17	+ 0.17
Eurasian Minls	EMX	176267	2.20	+ 0.15
East Asia Mnls	EAS	2187908	6.24	-0.89
Bear Creek Mng	BCM	549169	4.09	-0.35
Tsodilo Res	TSD	176720	1.89	-0.21
Aldridge Minls	AGM	68200	0.70	-0.21
Energold Drill	EGD	197775	1.99	-0.20
Amazon Mng	AMZ	249250	1.15	-0.17
Clifton Star	CFO	410450	4.27	-0.15
CrazyHorseRs	CZH	42600	0.70	-0.15
Chesapeake Gld	CKG	55533	7.85	-0.15
RareElemntRs	RES	345201	2.38	-0.15