The S&P/TSX Venture Composite Index saw little movement during the trading sessions, dropping 4.6 points before closing out the week at 946.10. The Venture was affected after gold and crude oil futures struggled in early trading before rebounding later in the week.
Gold futures had declined since the previous week, with December contracts for bullion dropping to a low of US$1,306.40 per oz. on Sept. 17 before rebounding to close the trading period down US$3.70 at US$1,326.10 per oz. Crude oil futures also declined for the second straight week, with November contracts for West Texas Intermediate (WTI) closing down 1.7%, or US$1.76, at US$104.86 per barrel. But copper was a bright spot, as December contracts for the red metal jumped US6.7¢ before closing at US$3.30 per lb.
Uranium explorer Alpha Minerals registered a 63¢ gain during the week en route to a $6.83-per-share close. On Sept. 18 the company announced it had signed a definitive agreement under which it will be acquired by joint-venture partner Fission Uranium. The two companies have fifty-fifty interests in the hot new Patterson Lake South play in Saskatchewan. With the deal Alpha shareholders would get 5.725 Fission shares and a cash payment of $0.0001 for each share held. The offer represents a 14.5% premium to Alpha’s share price as of Aug. 23.
Shares in Yukon-focused explorer Prophecy Platinum rose after the company releasing initial results from a 2013 field program at its wholly owned Wellgreen platinum group metals project, 317 km northwest of Whitehorse. Shares jumped 31%, or 18¢, after Prophecy newly interpreted mineralization towards the eastern end of the Wellgreen deposit. Prophecy says that its Far East zone shows potential for more high-grade mineralization, which could connect the main Wellgreen deposit with zones to the east and north. Highlights from drilling at Far East include 216 metres grading 1.48 grams platinum equivalent per tonne from surface in hole 154, and 91 metres grading 1.85 grams platinum equivalent from surface in hole 160.
Falling precious metal prices took a toll on junior explorers, headlining the value-lost category with three smaller-cap gold and silver outfits. Chesapeake Gold — which is approaching the development stage at its Metates bulk-tonnage, gold-silver project in Mexico’s Durango state — lost 31¢ during the week, as 110,800 of its 44 million outstanding shares traded hands, en route to a $3.61-per-share close.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Donner Metals | DON | 12723 | 0.01 | 0.01 | 0.01 | 0 | |
| Columbus Gold | CGT | 12457 | 0.45 | 0.3 | 0.34 | + | 0.03 |
| Caribou King R | CKR | 9551 | 0.11 | 0.07 | 0.08 | – | 0.01 |
| Unigold | UGD | 7295 | 0.08 | 0.08 | 0.08 | + | 0.01 |
| Northern Gld M | NGM | 6532 | 0.05 | 0.04 | 0.05 | – | 0.01 |
| Macusani Yello | YEL | 5722 | 0.07 | 0.06 | 0.06 | 0 | |
| Fission Uran | FCU | 5395 | 1.26 | 1.14 | 1.23 | + | 0.1 |
| Habanero Res | HAO | 5275 | 0.02 | 0.01 | 0.01 | – | 0.01 |
| Canada Carbon | CCB | 4802 | 0.35 | 0.29 | 0.35 | + | 0.07 |
| Redhill Res | RHR | 4799 | 0.03 | 0.02 | 0.02 | – | 0.01 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Duncastle Gold | DUN | 99 | 0.04 | 0.03 | 0.04 | + | 166.6 |
| Cascade Res | CC | 250 | 0.01 | 0.01 | 0.01 | + | 100 |
| Millstream Min | MLM | 87 | 0.01 | 0.01 | 0.01 | + | 100 |
| Superior Mng | SUI | 102 | 0.01 | 0.01 | 0.01 | + | 100 |
| Red Pine Expl | RPX | 70 | 0.01 | 0.01 | 0.01 | + | 100 |
| Rainbow Res | RBW | 1575 | 0.07 | 0.04 | 0.07 | + | 100 |
| Celeste Copper | C | 705 | 0.01 | 0.01 | 0.01 | + | 100 |
| Deer Horn Mtls | DHM | 91 | 0.01 | 0.01 | 0.01 | + | 100 |
| Baroyeca Go&Si | BGS | 52 | 0.01 | 0.01 | 0.01 | + | 100 |
| MacMillan Mnls | MMX | 206 | 0.02 | 0.01 | 0.02 | + | 100 |
| Green Swan Cap | GSW | 69 | 0.06 | 0.05 | 0.05 | – | 58.3 |
| BCM Res | B | 102 | 0.06 | 0.05 | 0.05 | – | 55 |
| Newton Gold | NWG | 47 | 0.01 | 0.01 | 0.01 | – | 50 |
| Inform Res | IRR | 376 | 0.01 | 0.01 | 0.01 | – | 50 |
| Majescor Res | MJX | 53 | 0.01 | 0.01 | 0.01 | – | 50 |
| Golden Dory Rs | GDR | 139 | 0.01 | 0.01 | 0.01 | – | 50 |
| North Am Pot D | NPD | 924 | 0.03 | 0.02 | 0.02 | – | 50 |
| Animas Res | ANI | 42 | 0.07 | 0.04 | 0.04 | – | 50 |
| Northern Abiti | NAI | 16 | 0.01 | 0.01 | 0.01 | – | 50 |
| Hudson River M | HRM | 83 | 0.01 | 0.01 | 0.01 | – | 50 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Reservoir Mnls | RMC | 740576 | 4.94 | + | 0.74 |
| Alpha Mnls | AMW | 581787 | 6.83 | + | 0.63 |
| Kennady Diam | KDI | 94861 | 5.08 | + | 0.37 |
| Teras Res | TRA | 813700 | 0.75 | + | 0.3 |
| Cayden Res | CYD | 480232 | 1.73 | + | 0.25 |
| Avino Silver | ASM | 74779 | 1.59 | + | 0.19 |
| Prophecy Plat | NKL | 424298 | 0.76 | + | 0.18 |
| Atacama Pac Gd | ATM | 23400 | 1.42 | + | 0.17 |
| North Am Nickl | NAN | 3320206 | 0.42 | + | 0.15 |
| Asher Res | ACN | 825100 | 0.35 | + | 0.11 |
| Chesapeake Gld | CKG | 110817 | 3.9 | – | 0.31 |
| Atac Res | ATC | 878320 | 0.89 | – | 0.16 |
| Kootenay Gold | KTN | 134159 | 0.62 | – | 0.13 |
| Anfield Nickel | ANF | 35073 | 2.03 | – | 0.12 |
| Senator Minls | SNR | 33000 | 0.14 | – | 0.11 |
| Maudore Minls | MAO | 476130 | 0.24 | – | 0.1 |
| Red Eagle Mng | RD | 430787 | 0.21 | – | 0.08 |
| Eurasian Minls | EMX | 54896 | 1.25 | – | 0.08 |
| Green Swan Cap | GSW | 68500 | 0.05 | – | 0.07 |
| Astur Gold | AST | 36700 | 0.41 | – | 0.07 |
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