The S&P TSX Venture Composite Index continued its rally to start the new year, with a late-December run fueling a 2.8% or 25.7 point gain during the Dec. 27-Jan. 3 trading sessions en route to a 944.71 point close. Gains were driven by rising commodity prices, though both energy and base metal futures lost ground towards the end of the week. Markets enjoyed a relatively strong finish to 2013, with global industrials and consumer spending tracking positively.
Gold futures gained during late-week trading, as February contracts for bullion jumped US$27.60 before closing out the period at US$1,236.20 per oz. March contracts for copper briefly hit a four-month high of US$3.40 per lb. during mid-week trading before finishing down US2.9¢ at US$3.35 per lb. Crude oil futures also started off the week strong before losing momentum, with February contracts for West Texas Intermediate closing down 5.9% or US$5.89 at US$94.22 per barrel.
Junior copper explorer Gold Reach Resources has caught market attention via the ongoing release of assays from a 35-hole drill program at its wholly-owned Ootsa polymetallic porphyry target 120 km southwest of Houston, B.C. The company jumped 24¢ with 121,110 shares changing hands during the week before closing near a three-month high at $1.20 per share. In late December Gold Reach released results from four holes collared at its East and West Steel deposits. Hole S13-166 cut 118 metres grading 0.65% copper equivalent from 61 metres depth at East Steel. At West Steel, hole S13-169 cut 26 metres of 1.5% copper equivalent from 18 metres depth, while hole S13-167 intersected 355 metres grading 0.48% copper equivalent from 55 metres down hole.
Diamond explorer Metalex Ventures received a boost when its chairman — namely well-known diamond magnate Chuck Fipke — made an additional investment in the company. Metalex jumped 88% or 14¢ on 663,660 share trade volumes before closing the week at 30¢ per share. Fipke subscribed for 2.6 million flow-through shares at a price of 12.5¢ per share. The company controls a portfolio of diamond prospects across Ontario and Quebec, including assets in the James Bay Lowlands near De Beers’ Victor mine.
Metalex had previously announced it intends to raise roughly $400,000 via flow-through financing, with Fipke’s contribution accounting for gross proceeds of around $320,000.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Dunav Res | DNV | 15566 | 0.09 | 0.05 | 0.07 | + | 0.02 |
| Lomiko Mtls | LMR | 14064 | 0.18 | 0.1 | 0.11 | – | 0.01 |
| Berkwood Res | BKR | 8183 | 0.07 | 0.02 | 0.04 | + | 0.02 |
| Red Pine Expl | RPX | 7067 | 0.12 | 0.1 | 0.11 | + | 0.01 |
| Big North Grap | NRT | 6604 | 0.1 | 0.06 | 0.09 | + | 0.04 |
| Mason Graphite | LLG | 5903 | 1.08 | 0.77 | 0.8 | + | 0.11 |
| Great Western | GWG | 5046 | 0.08 | 0.07 | 0.07 | – | 0.01 |
| EastCoal | ECX | 4836 | 0.02 | 0.01 | 0.01 | – | 0.01 |
| Nevada Clean M | NVM | 4405 | 0.14 | 0.1 | 0.11 | + | 0.02 |
| Cavan Vent | CVN | 4389 | 0.06 | 0.04 | 0.05 | + | 0.02 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Honey Badger E | TUF | 2049 | 0.02 | 0.01 | 0.02 | + | 200 |
| Intl Bethl Mng | IBC | 632 | 0.02 | 0.01 | 0.02 | + | 200 |
| New Destiny Mg | NED | 100 | 0.02 | 0.01 | 0.02 | + | 200 |
| Acme Res | ARI | 61 | 0.15 | 0.09 | 0.15 | + | 150 |
| Huntington Exp | HEI | 20 | 0.03 | 0.03 | 0.03 | + | 150 |
| Ferrum Am Mng | FEM | 277 | 0.03 | 0.01 | 0.03 | + | 150 |
| Blind Crk Res | BCK | 696 | 0.03 | 0.01 | 0.03 | + | 150 |
| Olympic Res | OLA | 67 | 0.06 | 0.03 | 0.06 | + | 140 |
| Berkwood Res | BKR | 8183 | 0.07 | 0.02 | 0.04 | + | 133.3 |
| Cartier Res | ECR | 37 | 0.16 | 0.1 | 0.16 | + | 100 |
| Ross River Mnl | RRM | 81 | 0.01 | 0.01 | 0.01 | – | 66.6 |
| Donner Metals | DON | 171 | 0.25 | 0.14 | 0.15 | – | 51.6 |
| Acrex Vent | AKV | 30 | 0.01 | 0.01 | 0.01 | – | 50 |
| Plato Gold | PGC | 50 | 0.01 | 0.01 | 0.01 | – | 50 |
| Amanta Res | AMH | 25 | 0.01 | 0.01 | 0.01 | – | 50 |
| EastCoal | ECX | 4836 | 0.02 | 0.01 | 0.01 | – | 50 |
| Gitennes Expl | GIT | 10 | 0.01 | 0.01 | 0.01 | – | 50 |
| Manson Creek | MCK | 69 | 0.01 | 0.01 | 0.01 | – | 50 |
| Aldershot Res | ALZ | 52 | 0.01 | 0.01 | 0.01 | – | 50 |
| Orex Expl | OX | 164 | 0.02 | 0.01 | 0.01 | – | 50 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Atacama Pac Gd | ATM | 64700 | 1 | + | 0.27 |
| Gold Reach Res | GRV | 12110 | 1.2 | + | 0.24 |
| Eurasian Minls | EMX | 62150 | 1.19 | + | 0.23 |
| Chesapeake Gld | CKG | 30496 | 3 | + | 0.17 |
| Probe Mines | PRB | 473869 | 2.33 | + | 0.16 |
| Lumina Copper | LCC | 85575 | 6.3 | + | 0.16 |
| Avino Silver | ASM | 81725 | 1.33 | + | 0.16 |
| Aurcana Corp | AUN | 701649 | 0.7 | + | 0.14 |
| Metalex Vent | MTX | 663660 | 0.3 | + | 0.14 |
| Barkerville Go | BGM | 561070 | 0.54 | + | 0.12 |
| Kennady Diam | KDI | 23132 | 4.82 | – | 0.18 |
| Donner Metals | DON | 171034 | 0.15 | – | 0.16 |
| Midland Expl | MD | 13300 | 0.66 | – | 0.13 |
| Diamcor Mng | DMI | 44400 | 1.63 | – | 0.08 |
| Reservoir Mnls | RMC | 164068 | 5.23 | – | 0.07 |
| Focus Graphite | FMS | 1985161 | 0.57 | – | 0.07 |
| Tinka Res | TK | 295310 | 0.37 | – | 0.06 |
| Sama Res | SME | 89000 | 0.24 | – | 0.06 |
| Archean Star R | ASP | 825500 | 0.11 | – | 0.06 |
| Gonzaga Res | GN | 250000 | 0.1 | – | 0.05 |
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