The S&P/TSX Venture Composite took a step back during the shortened trading period, as it lost 2.8%, or 29.1 points, en route to a 994.89-point weekly close. Precious metal and commodity futures were on the decline, and Statistics Canada reported that the Canadian economy lost a net 11,000 jobs in August. Meanwhile, the European Central Bank announced it was cutting its key interest rate and putting in place a new stimulus program to help Europe’s weak economic recovery.
December contracts for gold bullion dropped 1.6%, or US$20.10, before closing out the trading period at US$1,267.30 per oz. Crude oil futures were also on the decline, as October contracts for West Texas Intermediate declined 2.5%, or US$2.54, en route to a US$93.29-per-barrel close. December contracts for copper closed relatively flat at US$3.17 per lb.
Big North Graphite topped the volume-traded category after announcing a takeover offer from Flinders Resources. Big North saw 21.6 million of its shares traded, as they gained 1¢ before closing out the week at 8.5¢ per share. Flinders shares dropped 9¢ to 96¢ on 446,100 shares traded.
Under the offer, Big North shareholders would receive one Flinders share for each nine Big North shares held, which would result in the issuance of 9 million Flinders shares for 81 million Big North shares.
Flinders announced earlier that production restarted at its wholly owned Woxna graphite mine in central Sweden.
Big North had focused on a similar strategy at the past-producing El Tejon flake graphite project in the Sierra Madre del Sur province of southern Mexico.
It appears that San Antonio Ventures is entering the shale gas market after wrapping up a reverse takeover of R2 Energy. The company closed the deal on Sept. 4 and jumped 10¢ on 9.7 million shares traded on the news, before closing at 23¢ per share. Under terms of the deal R2 shareholders were issued two shares of San Antonio for each share held. In late July R2 completed a US$5.8-million private placement, where it issued 19.2 million shares.
R2 is looking to develop a diversified shale gas and shale oil land portfolio in Europe, Mexico and other strategic countries, with its present focus on gas and oil land prospects in Mexico and Spain. Goldcorp chairman Ian Telfer — who owns an 18% stake in the combined company following the deal — will be joining San Antonio’s board of directors.
Zenyatta Ventures saw its shares get a boost after it completed a pilot plant and metallurgical testing at its Albany hydrothermal-style graphite deposit in northeastern Ontario. Shares gained 14¢ on 2.8 million traded before closing the week at $2.04 per share.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Big North Grap | NRT | 21639 | 0.1 | 0.07 | 0.09 | + | 0.01 |
| Lomiko Mtls | LMR | 10326 | 0.11 | 0.08 | 0.09 | – | 0.02 |
| San Antonio Vt | SAN | 9711 | 0.27 | 0.16 | 0.23 | + | 0.1 |
| Pershimco Res | PRO | 7991 | 0.35 | 0.32 | 0.35 | – | 0.02 |
| Integra Gold | ICG | 6358 | 0.36 | 0.22 | 0.29 | + | 0.06 |
| Decade Res | DEC | 6018 | 0.25 | 0.17 | 0.18 | – | 0.01 |
| Bullman Mnls | BUL | 5317 | 0.3 | 0.21 | 0.3 | + | 0.03 |
| Goldstrike Res | GSR | 4477 | 0.28 | 0.15 | 0.16 | – | 0.12 |
| Baja Mng | BAJ | 3847 | 0.05 | 0.04 | 0.05 | 0 | |
| Discovery Vent | DVN | 3491 | 0.42 | 0.37 | 0.38 | 0 | |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Millstream Min | MLM | 319 | 0.02 | 0.01 | 0.02 | + | 200 |
| Chilean Gold | CHN | 321 | 0.05 | 0.03 | 0.05 | + | 125 |
| Apogee Silver | APE | 275 | 0.01 | 0.01 | 0.01 | + | 100 |
| Caracara Silvr | CSV | 18 | 0.02 | 0.02 | 0.02 | + | 100 |
| Blind Crk Res | BCK | 271 | 0.01 | 0.01 | 0.01 | + | 100 |
| New Dimen Res | NDR | 20 | 0.01 | 0.01 | 0.01 | + | 100 |
| Elissa Res | ELI | 589 | 0.04 | 0.03 | 0.04 | + | 100 |
| Lincoln Mng | LMG | 140 | 0.2 | 0.12 | 0.2 | + | 81.8 |
| Alexander Nubi | AAN | 232 | 0.05 | 0.03 | 0.05 | + | 80 |
| Wildcat Expl | WEL | 410 | 0.16 | 0.09 | 0.16 | + | 77.7 |
| Augen Gold | GLD | 463 | 0.13 | 0.06 | 0.06 | – | 50 |
| Brookemnt Cpt | BKT | 112 | 0.02 | 0.01 | 0.01 | – | 50 |
| Fieldex Expl | FLX | 70 | 0.01 | 0.01 | 0.01 | – | 50 |
| Paget Mnls | PGS | 298 | 0.01 | 0.01 | 0.01 | – | 50 |
| Sedex Mng | SDN | 243 | 0.01 | 0.01 | 0.01 | – | 50 |
| Frontline Gold | FGC | 1272 | 0.01 | 0.01 | 0.01 | – | 50 |
| Goldstrike Res | GSR | 4477 | 0.28 | 0.15 | 0.16 | – | 42.5 |
| Vega Mng | VMI | 159 | 0.03 | 0.02 | 0.02 | – | 40 |
| Pac Coal Res | PAK | 53 | 0.24 | 0.18 | 0.18 | – | 40 |
| La Ronge Gold | LAR | 154 | 0.28 | 0.16 | 0.2 | – | 38.4 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Diamcor Mng | DMI | 296500 | 1.44 | + | 0.3 |
| Cayden Res | CYD | 337454 | 3.07 | + | 0.29 |
| Zenyatta Vent | ZEN | 2773300 | 2.04 | + | 0.14 |
| San Antonio Vt | SAN | 9710660 | 0.23 | + | 0.1 |
| Lincoln Mng | LMG | 139549 | 0.2 | + | 0.09 |
| Abitibi Royalt | RZZ | 31090 | 3.75 | + | 0.08 |
| Glenmark Cap | GLM | 113296 | 0.33 | + | 0.08 |
| Energold Drill | EGD | 150816 | 1.53 | + | 0.07 |
| Arian Silver | AGQ | 27594 | 0.68 | + | 0.07 |
| Catalyst Coppr | CCY | 117276 | 0.56 | + | 0.07 |
| Ascot Res | AOT | 307439 | 1.85 | – | 0.44 |
| Kennady Diam | KDI | 81567 | 7.5 | – | 0.31 |
| Chesapeake Gld | CKG | 24380 | 3 | – | 0.26 |
| Bear Creek Mng | BCM | 352008 | 3.3 | – | 0.23 |
| Reservoir Mnls | RMC | 153032 | 5.83 | – | 0.16 |
| Titanium Corp | TIC | 532678 | 1.87 | – | 0.16 |
| Palladon Vent | PLL | 47900 | 1.1 | – | 0.15 |
| Athabasca Mnls | ABM | 340728 | 2.5 | – | 0.14 |
| Avino Silver | ASM | 63499 | 2.16 | – | 0.13 |
| La Ronge Gold | LAR | 153650 | 0.2 | – | 0.13 |
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