The S&P/TSX Venture composite index remained largely on positive ground over the July 12-16 trading period to end the week up 9.94 points at 1,379.49. Daily trading volumes were also slightly up, averaging 85.4 million.
But the bears still outpaced the bulls in the second trading week of July: only 13 Venturelisted companies reached new 52-week share price highs while 209 fell to new lows.
Terrane Metals was the far-and-away leader on the volume board after news broke that molybdenum miner Thompson Creek Metals is set to buy the junior in a cash-and-stock deal worth $650 million, to get its hands on the construction-ready Mt. Milligan copper-gold project near Prince George, B.C. Goldcorp holds 58% of Terrane and voiced its approval for the deal, which still needs a go-ahead from Terrane shareholders. In addition, Thompson Creek lined up a gold stream deal with Royal Gold for 25% of the future production from Mt. Milligan. Terrane moved 74 million shares on the news to gain 32¢, reaching $1.35 apiece.
Another junior having a good week was Canaco Resources, which gained 63¢ or 68% to reach $1.56, a new all-time high. The company is exploring its Handeni gold project in Tanzania and recent drilling returned one whopper intercept: 37 metres grading 12.45 grams gold per tonne. The high-grade hit came from the northernmost section drilled at the project to date. Other parts of the zone produced lower-grade intercepts such as 30 metres of 1.64 grams gold.
Also in Tanzania, Sidon Resources received approval from the Venture Exchange for its deal to acquire 80% of the Morogoro East gold project in that country. The approval alone was enough to lift Sidon’s share price from 6¢ to 10¢ on 9 million trades.
News of a new drill program at its flagship Roughrider uranium deposit in Saskatchewan coupled with increased rumblings of a long-awaited recovery in the uranium market lifted Hathor Resources’ share price by 18¢ over the week to close at $1.61. The recent drill program at Roughrider returned such intercepts as 7.5 metres of 43.6% U3 O8 and 26.5 metres of 3.55% U3O8, with many hits bridging gaps between zones or proving mineralization in deposit areas previously considered barren.
Taking advantage of a share price strengthened by good gold hits at its Coffee project in the Yukon, Kaminak Gold announced a $10-million bought-deal financing. Soon after, the company increased the overallotment allowance, which if fully exercised will now raise the gross proceeds to $14.5 million.
In contrast, San Gold saw its share price fall 23¢ to $3.88 after announcing a $130-million bought-deal financing and then, a day later on July 14, reduced the offer to $80 million. The financing share price remained unchanged at $4 per share, as did the syndicate of underwriters.
| TSX-V most active issues | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Terrane Metals | TRX | 73798 | 1.38 | 1.01 | 1.35 | + 0.32 |
| Sidon Intl Res | SD | 29674 | 0.12 | 0.06 | 0.10 | + 0.02 |
| Canaco Res | CAN | 26361 | 1.79 | 1.05 | 1.56 | + 0.63 |
| Fortress Mnls | FST | 12106 | 0.13 | 0.10 | 0.11 | -0.02 |
| Canadn Arrow | CRO | 11032 | 0.04 | 0.03 | 0.03 | -0.02 |
| Creso Expl | CXT | 9373 | 0.50 | 0.29 | 0.49 | + 0.18 |
| KWG Res | KWG | 8743 | 0.13 | 0.12 | 0.12 | 0.00 |
| Woulfe Mng | WOF | 8639 | 0.10 | 0.08 | 0.09 | + 0.01 |
| Calibre Mng | CXB | 6980 | 0.12 | 0.10 | 0.12 | 0.00 |
| Spider Res | SPQ | 6637 | 0.19 | 0.19 | 0.19 | 0.00 |
| TSX-V greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Pac Coast Nikl | NKL | 1726 | 0.08 | 0.04 | 0.05 | + 400.0 |
| Tanqueray Res | TQY | 275 | 0.02 | 0.01 | 0.02 | + 100.0 |
| Mazorro Res | MZO | 171 | 0.14 | 0.08 | 0.14 | + 75.0 |
| Canaco Res | CAN | 26361 | 1.79 | 1.05 | 1.56 | + 67.7 |
| NMC Res | NRC | 197 | 0.20 | 0.13 | 0.20 | + 66.6 |
| Creso Expl | CXT | 9373 | 0.50 | 0.29 | 0.49 | + 58.0 |
| Z-Gold Expl | ZGG | 539 | 0.24 | 0.13 | 0.17 | + 54.5 |
| Firesteel Res | FTR | 52 | 0.09 | 0.08 | 0.09 | + 50.0 |
| Cangold | CLD | 1002 | 0.04 | 0.03 | 0.03 | + 50.0 |
| Star Uranium | SUV | 25 | 0.04 | 0.03 | 0.03 | + 50.0 |
| Merit Mng | MEM | 12 | 0.89 | 0.62 | 0.62 | -57.2 |
| Canadn Arrow | CRO | 11032 | 0.04 | 0.03 | 0.03 | -40.0 |
| Vangold Res | VAN | 67 | 0.20 | 0.14 | 0.14 | -39.1 |
| AndeanGold | AAU | 13 | 0.18 | 0.13 | 0.13 | -35.0 |
| Eureka Res | EUK | 40 | 0.06 | 0.06 | 0.06 | -33.3 |
| Volcanic Mtls | VOL | 123 | 0.15 | 0.13 | 0.14 | -33.3 |
| Zinco Mng | ZIM | 43 | 0.20 | 0.20 | 0.20 | -33.3 |
| Nanika Res | NKA | 282 | 0.05 | 0.04 | 0.05 | -28.5 |
| Laurion Mnl Ex | LME | 357 | 0.06 | 0.05 | 0.05 | -28.5 |
| Los Andes Copp | LA | 30 | 0.12 | 0.09 | 0.12 | -25.0 |
| TSX-V greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| Canaco Res | CAN | 26361380 | 1.56 | + 0.63 |
| Tsodilo Res | TSD | 360497 | 1.67 | + 0.44 |
| Centurion Mnls | CTN | 275032 | 1.69 | + 0.43 |
| Terrane Metals | TRX | 73798201 | 1.35 | + 0.32 |
| Brett Res | BBR | 313837 | 3.99 | + 0.24 |
| St Elias Mns | SLI | 511313 | 1.47 | + 0.23 |
| Ascot Res | AOT | 651233 | 0.88 | + 0.18 |
| Hathor Expl | HAT | 1106071 | 1.61 | + 0.18 |
| Creso Expl | CXT | 9372902 | 0.49 | + 0.18 |
| Salazar Res | SRL | 260024 | 1.16 | + 0.18 |
| Merit Mng | MEM | 11630 | 0.62 | -0.83 |
| RareElemntRs | RES | 283924 | 2.41 | -0.27 |
| San Gold Res | SGR | 5780519 | 3.88 | -0.23 |
| Bear Creek Mng | BCM | 2586673 | 3.80 | -0.19 |
| East Asia Mnls | EAS | 596545 | 5.76 | -0.19 |
| Eurasian Minls | EMX | 99008 | 1.87 | -0.17 |
| Rainy River Rs | RR | 5305254 | 5.95 | -0.13 |
| Titanium Corp | TIC | 144445 | 1.35 | -0.13 |
| Dundarave Res | DDX | 81500 | 0.52 | -0.12 |
| Colombian Mins | CMJ | 240550 | 0.68 | -0.12 |
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