The S&P/TSX Venture Composite Index continued to mount a bit of a rally during the trading sessions, posting a 14.09-point, or 1.5% increase, en route to a 962.41 weekly close. The index was boosted by stronger-than-expected economic reports in the U.S. and Canada during the first quarter, as well as firmer commodity prices.
Statistics Canada reported that the Canadian economy grew at its fastest pace since 2011 during the first quarter, with gross domestic product up by 2.5% on an annualized basis. The report also said Canada’s current account deficit had narrowed to $14 billion, with exports of energy products jumping 21.9% annually.
Though the U.S. economy posted a marginally lower growth rate at 2.4%, it did receive some underlying good news during its first-quarter report. Consumer spending — often cited as a major economic indicator — jumped 3.4% during the period, in its greatest increase in over two years.
Commodity prices remained relatively static, with August contracts for gold bullion rising US$1.50 before closing out the week at US$1,387.35 per oz. July contracts for crude oil declined 2% — or US$1.90, en route to a US$91.64 close — while copper fell US3.1¢ before closing at US$3.27 per lb.
Vancouver-based Energold Drilling had a strong week, with its share price jumping 26¢ en route to a $2.06 close. The company announced its first-quarter financial results at the beginning of the week, which were highlighted by record revenues of $54 million and net income of 13¢ per share.
Energold reported that despite weaker exploration markets its mineral division drilled 106,400 metres during the first quarter, which resulted in around $18.3 million in revenues. The company’s energy division sunk around 210,000 metres during the first three months of 2013, with revenues at $31.4 million.
It was not a great week for Sandstorm Metals & Energy, which led the Venture in the value-lost category with a 43¢ drop en route to a $2.83 close. Sandstorm is a streaming and royalty company that focuses on base metal and energy markets, and announced its acquisition of a net smelter return royalty (NSR) from Canadian Zinc for a cash payment of US$6.8 million on May 31.
Sandstorm bought a 1.2% NSR on Canadian Zinc’s Prairie Creek project in the Northwest Territories, which boasts reserves of 5.2 million tonnes grading 9.4% zinc, 9.5% lead and 151 grams per tonne silver. Canadian Zinc retains an option, over a period of 30 months, to repurchase up to 100% of Sandstorm’s NSR at face value if the two companies enter into a commodity stream agreement that has an upfront deposit of at least US$90 million.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Seafield Res | SFF | 15829 | 0.08 | 0.05 | 0.07 | + | 0.03 |
| Anglo Swiss | ASW | 7515 | 0.02 | 0.01 | 0.02 | 0 | |
| Selwyn Res | SWN | 6625 | 0.1 | 0.09 | 0.09 | + | 0.01 |
| Gold Bulln Dev | GBB | 5198 | 0.04 | 0.03 | 0.03 | – | 0.01 |
| Metanor Res | MTO | 4110 | 0.12 | 0.08 | 0.1 | + | 0.02 |
| Colorado Res | CXO | 3996 | 1.56 | 1.27 | 1.36 | – | 0.17 |
| Zenyatta Vent | ZEN | 3770 | 2.52 | 2.04 | 2.48 | + | 0.4 |
| Sniper Res | SIP | 3404 | 0.03 | 0.01 | 0.02 | 0 | |
| NWM Mng | NWM | 3367 | 0.02 | 0.01 | 0.01 | – | 0.01 |
| Midlands Minls | MEX | 3363 | 0.01 | 0.01 | 0.01 | 0 | |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Volcanic Mtls | VOL | 34 | 0.08 | 0.08 | 0.08 | + | 650 |
| Lorraine Coppr | LLC | 258 | 0.05 | 0.02 | 0.05 | + | 200 |
| Northcore Res | NCR | 350 | 0.01 | 0.01 | 0.01 | + | 100 |
| Arrowhead Gold | AWH | 1465 | 0.02 | 0.02 | 0.02 | + | 100 |
| Pac Casc Minls | PCV | 1955 | 0.02 | 0.01 | 0.01 | + | 100 |
| Mill City Intl | MC | 2031 | 0.01 | 0.01 | 0.01 | + | 100 |
| Duncan Park H | DPH | 35 | 0.01 | 0.01 | 0.01 | + | 100 |
| Lund Gold | LGD | 37 | 0.01 | 0.01 | 0.01 | + | 100 |
| Aura Silver Rs | AUU | 540 | 0.01 | 0.01 | 0.01 | + | 100 |
| Red P ine Expl |
RPX | 144 | 0.01 | 0.01 | 0.01 | + | 100 |
| Guyana Frntr M | GYG | 22 | 0.01 | 0.01 | 0.01 | – | 50 |
| Bell Copper | BCU | 127 | 0.01 | 0.01 | 0.01 | – | 50 |
| Infinito Gold | IG | 113 | 0.01 | 0.01 | 0.01 | – | 50 |
| Green Valley M | GVY | 53 | 0.01 | 0.01 | 0.01 | – | 50 |
| Duncastle Gold | DUN | 658 | 0.03 | 0.02 | 0.02 | – | 50 |
| La Quinta Res | LAQ | 384 | 0.04 | 0.02 | 0.03 | – | 50 |
| Celeste Copper | C | 518 | 0.02 | 0.01 | 0.01 | – | 50 |
| Plato Gold | PGC | 215 | 0.01 | 0.01 | 0.01 | – | 50 |
| Olympic Res | OLA | 54 | 0.03 | 0.03 | 0.03 | – | 45.4 |
| Masuparia Gold | MAS | 20 | 0.08 | 0.06 | 0.06 | – | 45.4 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Atacama Pac Gd | ATM | 932877 | 1.75 | + | 0.55 |
| Zenyatta Vent | ZEN | 3770398 | 2.48 | + | 0.4 |
| Aurcana Corp | AUN | 1131577 | 2.5 | + | 0.39 |
| Energold Drill | EGD | 294744 | 2.06 | + | 0.26 |
| Atac Res | ATC | 493640 | 1.25 | + | 0.23 |
| Bear Creek Mng | BCM | 309294 | 2.17 | + | 0.22 |
| Esperanza Res | EPZ | 193291 | 0.89 | + | 0.21 |
| Kootenay Gold | KTN | 105035 | 0.88 | + | 0.16 |
| Red Tiger Mng | RMN | 58000 | 0.3 | + | 0.15 |
| Georgetown Cap | GET | 502000 | 0.4 | + | 0.15 |
| Sandstorm Mt&E | SND | 376785 | 2.83 | – | 0.43 |
| Gold Reserve | GRZ | 24531 | 3.2 | – | 0.2 |
| Tasman Metals | TSM | 122990 | 0.72 | – | 0.18 |
| Athabasca Mnls | ABM | 636541 | 0.71 | – | 0.17 |
| Colorado Res | CXO | 3995753 | 1.36 | – | 0.17 |
| Coronado Res | CRD | 113450 | 0.35 | – | 0.11 |
| Reservoir Mnls | RMC | 131897 | 2.55 | – | 0.1 |
| Argex Silver C | RGX | 1159008 | 0.9 | – | 0.09 |
| Lumina Copper | LCC | 260958 | 6.89 | – | 0.09 |
| Bralorne Gold | BPM | 67000 | 0.43 | – | 0.08 |
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