The S&P/TSX Venture composite index made modest gains over the Civic Holidayshortened Aug. 3-6 period to close up 38.12 points at 1,465.48. Daily trading volumes were average at 100 million.
The balance between the bulls and bears slightly improved compared to recent weeks, with 32 Venture-listed companies reaching new 52-week highs while 158 fell to new lows.
Edgewater Exploration released a substantial resource increase for its Malpica-Tuy gold project, in northern Spain, soon after acquiring the project from Lundin Mining. Edgewater used existing drill results not yet included in a resource to more than triple the contained gold. Measured and indicated resources now stand at 5.66 million tonnes grading 1.73 grams gold per tonne while inferred resources add 16.5 million tonnes averaging 1.66 grams gold. The company gained 22¢ to hit a high of $1.18 a share.
Avion Gold saw strong trading volumes of 5.8 million shares as it released drill results from its Hounde gold project in Burkina Faso and gold production numbers for July. The company extended the Vindaloo zone at Hounde with all nine holes intersecting gold mineralization, including hits of 7.5 metres grading 7.96 grams gold and 6.9 metres averaging 9.77 grams gold. Gold production for July was 8,770 oz., while the company expects to produce between 75,000 and 85,000 oz. in 2010. Avion’s share price was up 4¢ to close at 48¢.
San Gold Resources had big value gains, climbing 36¢ to $4.10 on 5.7 million shares traded. The company closed an $84.5-million short-form prospectus, including $4.5 million from an overallotment option. The funds will be used to further explore and develop on its Rice Lake gold project in southeastern Manitoba.
Shares of Harvest Gold jumped 4.5¢ or 45% to 14.5¢ on drill results from its Rosebud gold property in Pershing Cty., Nev. The first results from the company’s first phase drill program include 114.3 metres of 0.49 gram gold and 4.7 grams silver per tonne from 98 metres depth, and 35.1 metres of 0.82 gram gold and 238.1 grams silver from 316 metres downhole.
Atac Resources had an interesting week. The company first released results from the East zone of its Yukon-based Rau gold project that showed a number of non-mineralized holes. Two days later, on Aug. 5, it released strong infill results at Rau that included 58.9 metres of 8.7 grams gold and 38.8 metres averaging 17.11 grams gold, which pushed its share price up 25¢ to hit a high of $2.05. A day later, Atac announced the closing of a private placement and its shares dropped 11¢ to end at $1.94.
Canaco Resources released several drill results from its Magambazi gold project in Tanzania that extend known mineralization by 120 metres. The company’s stock price dropped 15¢ on the results before making modest recoveries to end down 4¢ or 2% at $1.95 on 4.7 million shares traded.
| TSX-V most active issues | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Sidon Intl Res | SD | 16341 | 0.18 | 0.13 | 0.15 | -0.02 |
| Woulfe Mng | WOF | 9450 | 0.12 | 0.08 | 0.10 | + 0.02 |
| Kalahari Res | KLA | 9267 | 0.05 | 0.04 | 0.05 | -0.01 |
| Amador Gold | AGX | 7443 | 0.02 | 0.01 | 0.02 | 0.00 |
| Terrane Metals | TRX | 7267 | 1.40 | 1.35 | 1.39 | + 0.03 |
| Encanto Potash | EPO | 5837 | 0.14 | 0.10 | 0.13 | + 0.02 |
| Avion Res | AVR | 5821 | 0.50 | 0.44 | 0.48 | + 0.03 |
| Creso Expl | CXT | 5778 | 0.86 | 0.66 | 0.82 | + 0.12 |
| San Gold Res | SGR | 5733 | 4.12 | 3.76 | 4.10 | + 0.36 |
| Copper Fox Mtl | CUU | 5604 | 0.37 | 0.28 | 0.35 | + 0.07 |
| TSX-V greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Golden Harp | GHR | 196 | 0.12 | 0.06 | 0.12 | + 100.0 |
| Tarsis Res | TCC | 1344 | 0.25 | 0.15 | 0.23 | + 76.9 |
| Westcan Uran | WCU | 269 | 0.16 | 0.11 | 0.16 | + 60.0 |
| Bold Vent | BOL | 389 | 0.28 | 0.18 | 0.28 | + 55.5 |
| Midasco Cap | MGC | 465 | 0.03 | 0.01 | 0.03 | + 50.0 |
| Crown Mnls | CWM | 111 | 0.09 | 0.07 | 0.09 | + 50.0 |
| VVC Expl | VVC | 279 | 0.17 | 0.12 | 0.17 | + 41.6 |
| Wildcat Expl | WEL | 1893 | 0.08 | 0.05 | 0.07 | + 40.0 |
| Harvest Gold | HVG | 2670 | 0.15 | 0.10 | 0.14 | + 40.0 |
| Macusani Yello | YEL | 923 | 0.29 | 0.20 | 0.25 | + 38.8 |
| Zeox | ZOX | 1723 | 0.05 | 0.03 | 0.04 | -63.6 |
| Randsburg Intl | RGZ | 38 | 0.05 | 0.04 | 0.04 | -33.3 |
| Luiri Gold | LGL | 87 | 0.11 | 0.10 | 0.11 | -31.2 |
| Lithic Res | LTH | 1633 | 0.10 | 0.06 | 0.07 | -30.0 |
| Cue Res | CUE | 245 | 0.06 | 0.05 | 0.05 | -28.5 |
| NorthernGldM | NGM | 1784 | 0.20 | 0.14 | 0.14 | -26.3 |
| Skyharbour Res | SYH | 3284 | 0.04 | 0.03 | 0.03 | -25.0 |
| Rochester Res | RCT | 535 | 0.12 | 0.09 | 0.09 | -25.0 |
| Challenger Dev | CDQ | 808 | 0.28 | 0.21 | 0.21 | -25.0 |
| Diamonds North | DDN | 701 | 0.22 | 0.17 | 0.18 | -25.0 |
| TSX-V greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| Bear Creek Mng | BCM | 1231913 | 4.03 | + 0.38 |
| San Gold Res | SGR | 5733141 | 4.10 | + 0.36 |
| Eurasian Minls | EMX | 78850 | 2.08 | + 0.27 |
| Quest Rare Mnl | QRM | 202723 | 2.89 | + 0.26 |
| Nor ont Res |
NOT | 3602320 | 1.38 | + 0.23 |
| Brett Res | BBR | 187255 | 4.62 | + 0.23 |
| Esperanza Silv | EPZ | 202279 | 1.52 | + 0.22 |
| Edgewater Expl | EDW | 955606 | 1.18 | + 0.22 |
| AfricanAuraM | AUR | 10064 | 1.40 | + 0.21 |
| Anfield Nickel | ANF | 154795 | 3.20 | + 0.20 |
| East Asia Mnls | EAS | 3952042 | 5.02 | -0.93 |
| Tsodilo Res | TSD | 28550 | 1.51 | -0.35 |
| Clifton Star | CFO | 2374021 | 4.48 | -0.34 |
| Centurion Mnls | CTN | 84300 | 1.25 | -0.15 |
| Zimtu Capital | ZC | 37529 | 1.00 | -0.15 |
| James Bay Res | JBR | 71550 | 0.62 | -0.12 |
| Explor Res | EXS | 780194 | 0.35 | -0.10 |
| Western Troy C | WRY | 123155 | 0.25 | -0.08 |
| Kaminak Gold | KAM | 1294105 | 1.57 | -0.08 |
| Challenger Dev | CDQ | 807600 | 0.21 | -0.07 |
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