The S&P/TSX Venture composite index fell slightly over the Aug. 9-13 trading week, ending down 8.44 points to close at 1,457.05, after two days of losses outweighed three days of gains. The daily trading volume average was roughly the same as last week at 74 million.
The bears-versus-bulls balance improved slightly, but still remains skewed with 31 Venture-listed companies hitting new highs while 159 hit new lows.
A single hole extension sent Creso Exploration stocks into a frenzy with more than 12 million shares traded. The single assay result from hole 1 at its Minto gold project in northeastern Ontario returned 82.5 metres grading 13.3 grams gold per tonne uncut (11 grams gold cut at 31.1 grams) from 509 metres depth, including 8.3 metres averaging 35.2 grams gold. The result indicates a deeper area of significant gold mineralization than previous holes. Its shares were up 5¢ to close at 87¢.
Kaminak Gold had a breakout week, jumping 92¢ in four days before dropping 19¢ to end at an all-time high of $2.30 on 4.3 million shares traded. Kaminak released the latest results from its Coffee gold project that included several high-grade intercepts and newly identified targets from sampling. Results included 35 metres grading 6.3 grams gold on the Double Double zone. It was trading as low as 33¢ a year ago.
Maudore Minerals saw strong gains after releasing an updated resource for its Comtois gold project near Val d’Or, Que. The new inferred estimate more than doubles the contained gold after the company factored in deeper drilling and lowered the grade cutoff because of higher gold prices. From surface to 150 metres depth, the resource contains 4.89 million inferred tonnes of 3.2 grams gold. Below that, sits a further 3.25 million inferred tonnes of 6.8 grams gold, bringing the total to 1.2 million contained ounces. The company’s stock price rose 62¢ to $4.22 on 89,000 shares traded in the three days following the resource news.
Probe Mines stock price doubled after news broke that it and joint-venture partner Noront Resources will split their property in northern Ontario’s “Ring of Fire.” The two had become joint-venture partners in early 2009 as a solution to a dispute about property ownership from an earlier joint venture. Noront will get properties around its Eagle’s Nest nickel-copper deposit while Probe will retain the Black Creek chromite deposit. Probe Mines’ stock price jumped 35¢ to 70¢.
Avion Gold, active in Mali, had 5.6 million shares traded to end up 6¢ at 54¢, after releasing July production numbers. Avion produced roughly 8,770 oz. gold in July from its Tabakoto/Segala operations and expects to produce a total of 46,700 oz. this year. The company awarded a contract to double plant throughput to 4,000 tonnes per day with an expected completion in 2012.
TSX-V most active issues | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Goldeye Expl | GGY | 25247 | 0.14 | 0.10 | 0.12 | + 0.02 |
Creso Expl | CXT | 12021 | 1.00 | 0.76 | 0.87 | + 0.05 |
Axmin Inc | AXM | 9148 | 0.12 | 0.09 | 0.09 | 0.00 |
Rusoro Mng | RML | 6989 | 0.22 | 0.17 | 0.20 | + 0.01 |
Slam Exploratn | SXL | 6634 | 0.14 | 0.11 | 0.12 | + 0.02 |
Avion Res | AVR | 6229 | 0.58 | 0.47 | 0.54 | + 0.06 |
Rocmec Mining | RMI | 6229 | 0.05 | 0.03 | 0.04 | + 0.02 |
Sidon Intl Res | SD | 5392 | 0.16 | 0.13 | 0.16 | + 0.01 |
Great Western | GWG | 5323 | 0.25 | 0.20 | 0.23 | + 0.05 |
Helio Res | HRC | 5236 | 0.35 | 0.30 | 0.30 | -0.05 |
TSX-V greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Alix Res | AIX | 23 | 0.20 | 0.15 | 0.17 | + 750.0 |
Probe Mines | PRB | 2659 | 0.76 | 0.39 | 0.70 | + 100.0 |
Rocmec Mining | RMI | 6229 | 0.05 | 0.03 | 0.04 | + 100.0 |
Goldbank Mng | GLB | 23 | 0.19 | 0.16 | 0.17 | + 88.8 |
Kingsman Res | KSM | 1136 | 0.09 | 0.05 | 0.07 | + 75.0 |
Silvermet | SYI | 1088 | 0.12 | 0.09 | 0.12 | + 71.4 |
Logan Res | LGR | 201 | 0.07 | 0.05 | 0.05 | + 66.6 |
Savant Expl | SVT | 361 | 0.10 | 0.08 | 0.10 | + 66.6 |
Zinco Mng | ZIM | 14 | 0.24 | 0.24 | 0.24 | + 60.0 |
Brigadier Gold | BRG | 29 | 0.19 | 0.12 | 0.19 | + 58.3 |
Cobalt Coal | CBT | 3104 | 0.08 | 0.04 | 0.05 | -44.4 |
Millstream Min | MLM | 220 | 0.04 | 0.03 | 0.03 | -40.0 |
Pinestar Gold | PNS | 31 | 0.05 | 0.05 | 0.05 | -37.5 |
Cypress Dev | CYP | 3485 | 0.10 | 0.07 | 0.07 | -36.3 |
Cascadero Copp | CCD | 101 | 0.12 | 0.10 | 0.10 | -33.3 |
NMC Res | NRC | 70 | 0.14 | 0.11 | 0.11 | -31.2 |
Manitou Gold | MTU | 50 | 0.37 | 0.32 | 0.32 | -30.4 |
SouthernAndE | SUR | 50 | 0.21 | 0.17 | 0.17 | -29.1 |
Intl Samuel Ex | ISS | 18 | 0.20 | 0.17 | 0.17 | -29.1 |
Golden Alli Rs | GLL | 106 | 0.78 | 0.55 | 0.59 | -28.9 |
TSX-V greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
Kaminak Gold | KAM | 4278475 | 2.30 | + 0.73 |
Maudore Minls | MAO | 226300 | 4.22 | + 0.73 |
Bear Creek Mng | BCM | 687554 | 4.40 | + 0.37 |
Probe Mines | PRB | 2659010 | 0.70 | + 0.35 |
Universal Powr | UNX | 2801304 | 2.39 | + 0.29 |
Great Quest Me | GQ | 1588641 | 1.31 | + 0.27 |
Antares Minls | ANM | 670685 | 3.07 | + 0.24 |
Canaco Res | CAN | 2550099 | 2.15 | + 0.20 |
Amazon Mng | AMZ | 706723 | 2.20 | + 0.20 |
Aldridge Minls | AGM | 89750 | 0.93 | + 0.18 |
Golden Alli Rs | GLL | 106350 | 0.59 | -0.24 |
Rainy River Rs | RR | 2867620 | 5.90 | -0.22 |
Grayd Res | GYD | 93250 | 0.80 | -0.15 |
Manitou Gold | MTU | 50000 | 0.32 | -0.14 |
Anooraq Res | ARQ | 165100 | 0.98 | -0.13 |
Alderon Res | ADV | 268550 | 1.36 | -0.13 |
Lithium One | LI | 434717 | 0.96 | -0.12 |
Macarthur Mnl | MMS | 45500 | 1.75 | -0.12 |
Corex Gold | CGE | 180450 | 0.58 | -0.10 |
Galway Res | GWY | 742708 | 0.69 | -0.10 |
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