The Jan. 17-21 period saw the S&P-TSX Venture composite index fall 5.38 points to end at 2,265.58. Volume was high at an average of 186 million shares traded daily. After all those trades, only 18 companies hit new 52-week lows while 136 hit new 52-week highs.
Empire Mining surged 20¢ or 48.8% to 61¢ after releasing results from the first drill hole at the Bursa project in Turkey. The hole returned 47.4 metres grading 2.02% copper, 0.96 gram gold per tonne and 21.64 grams silver per tonne, including 8 metres of 9.1% copper, 4.68 grams gold and 95.3 grams silver. The company announced it would add a second rig to accelerate the 1,000-metre drill program. Empire is earning a 65% interest in Bursa from Anatolia Minerals Development.
Reservoir Capital jumped 55¢ to $2.20 after announcing progress on two projects. A review of the company’s Deli Jovan gold project in Serbia showed that small-scale mining could be successful in producing 30,000 oz. gold per year if historic widths and grades can be sustained. Funding for the development of the project will come from Orogen Gold, which can earn a 75% interest in the project by spending $3.5 million on exploration within 42 months. Reservoir also released an update on feasibility work at its Brodarevo hydroelectric projects in Serbia.
KWG Resources had 26.5 million shares traded as its share price climbed 3¢ to 13.5¢. KWG issued an update on development at its Big Daddy chromite project in northern Ontario, including the start of an 8,640-metre drill program over 12 holes. KWG also reported that Xstrata‘s first test to evaluate the marketability of the ore showed a high yield of direct shipping-grade lumpy chromite ore. KWG also invited the chiefs of five First Nations in the Ring of Fire area to join the board of its subsidiary that controls the project.
Allana Potash had 26.9 million shares traded as the company swung up as much as 26¢ before ending up 4¢ at 94¢ on no news during the period. On Jan. 24, however, the company released significant drill results from its Ethiopian Dallol potash project for the second time in two weeks. Hole 8 hit 2 metres carrying 31.6% potassium chloride (KCl) and 7.5 metres averaging 22.1% KCl in two distinct intersections. The results follow up on hole 7 that hit 9.2 metres of 23.42% KCl, then 6.7 metres carrying 22.04% KCI.
Stans Energy was up 48¢ to $2.13 after announcing it would be buying a rare earth processing plant the week before. Stans has reached an agreement with the majority owners of the Kyrgyz chemical metallurgical plant to buy 100% of the rare-earth processing plant, including a rail terminal, for US$5.5 million. The plant historically produced 80% of the former Soviet Union’s rare earth products. Stans also wholly owns the nearby Kutessay II rare earth mine.
TSX-V most active issues
VOLUMEWEEK
(000s)HIGHLOWCLOSECHANGE
Allana ResAAA269361.180.920.94+0.04
KWG ResKWG265300.140.110.14+0.03
Bard VentCBS203580.200.090.12+0.02
Apogee MinlsAPE171640.460.320.40+0.07
Sirios ResSOI165530.130.060.09+0.02
Great WesternGWG163600.760.580.75+0.14
Galahad MtlsGAX147840.220.120.17+0.04
Encanto PotashEPO136340.560.470.500.00
War Eagle MgWAR124670.110.060.09+0.02
Axmin IncAXM112400.230.170.21+0.01
TSX-V greatest percentage change
VOLUMEWEEK
(000s)HIGHLOWCLOSECHANGE
Aurion ResAU15540.800.320.65+103.1
Golden GoliathGNG41350.750.260.50+85.1
Northrock ResNRK4170.420.230.42+82.6
Trillium NorthTNM7130.050.050.05+66.6
Verbina ResVUR890.350.190.32+60.0
Canaf GroupCAF3180.090.050.08+60.0
Empire MngEPC47980.720.530.61+52.5
Wescan GoldfieWGF26100.200.100.18+50.0
Orbite Expl AORTA61251.490.971.44+45.4
Caribou CopperCKR1340.100.090.10+42.8
AndeanGoldAAU2540.320.250.25-37.5
Sandstorm Mt&ESND22510.990.670.67-30.2
Cortez GoldCUT280.220.190.19-29.6
NV GoldNVX480.290.220.22-29.0
Huntington ExpHEI2950.140.100.14-26.3
Stina ResSQA4720.600.440.44-25.4
G4G ResGXG700.160.150.15-25.0
Jaxon MnlsJAX1710.220.160.16-23.8
Channel ResCHU24200.310.190.20-23.0
Molycor GoldMOR7100.090.070.07-22.2
TSX-V greatest value change
WEEK
VOLUMECLOSECHANGE
Atac ResATC15698786.36+0.91
Amazon MngAMZ7135078.60+0.75
Reservoir CaptREO35281472.20+0.55
Chesapeake GldCKG11142014.20+0.51
Stans EnergyRUU105394002.13+0.48
Orbite Expl AORTA61253261.44+0.45
Maudore MinlsMAO1229336.25+0.39
Yellowhead MngYMI8287151.39+0.39
Alderon ResADV22675683.73+0.38
Loncor ResLN959672.90+0.35
Clifton StarCFO6844924.11-0.48
Rare Elemnt RsRES138267012.71-0.46
Hana MngHMG25937254.15-0.45
Bear Creek MngBCM11921497.95-0.42
Rainy River RsRR231603511.20-0.40
Canaco ResCAN31889254.54-0.36
Eurasian MinlsEMX3959073.14-0.32
Orko SilverOK26688382.13-0.32
Pac Booker MinBKM129739.10-0.32
Sandspring ResSSP4719323.10-0.31
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