CDNX keeps the faith

Vancouver — Canada’s junior exchange fared better than the major bourses, closing the period Jan. 23-29 in the black. The Standard & Poor’s-CDNX composite index tacked on 17.41 points, or 1.5%, to finish at 1,115.43.

Seahawk Minerals jumped 3 and closed at 6 with 3.3 million shares traded. The cash-strapped company recently arranged a non-brokered private placement at 5 per share for a total of $100,000. The company’s Piteiras emerald project in Brazil is suspended until development funding can be secured.

Majescor Resources added 7 to its value and closed at $1.68 on 2.6 million shares. The junior’s share price has soared over the past few months on its large package of prospective diamond properties in the Otish Mountains region of northern Quebec.

Spider Resources closed up 2 to 7 on 2.1 million shares. The company holds a stake in the Spider 1 diamond property in the James Bay Lowlands of northern Ontario.

Holmer Gold Mines added 2 to close at 22 with just over 2 million shares changing hands. The company is focused on advancing the Loma Hierro silver project in Cuba. An independent feasibility study is complete, and a joint-venture operating agreement is being arranged with its Cuban partner. The junior also holds the Timmins project in Ontario, where drilling has outlined a mineral resource estimated at 2.1 million tons averaging 0.23 oz. gold per ton.

Plexmar Resources closed up a nickel to 33 on 1.7 million shares. The company just announced its intention to sell 1.6 million units at 30 per unit for gross proceeds of $500,000. The proceeds will be used to develop Plexmar’s newly acquired Discovery property, 25 km from the Ashton-Soquem diamond discovery in northern Quebec.

Shares in Starfield Resources soared 21 and closed at 99 on a volume of 1.6 million. The company is gearing up to resume drilling on its Ferguson Lake nickel-copper-platinum-palladium property in Nunavut.

International Chalice Resources closed at 5, up 2, with just over 1.6 million shares traded. No new news was announced, but late last year the junior’s joint-venture partner, Samex Mining, cut two narrow zones of anomalous polymetallic mineralization at the Core zone of the Eskapa property in Bolivia. Hole 11 intersected two intervals (2.1 and 0.25 metres long) of sulphide-veinleted vuggy silica rock containing anomalous gold, copper, silver, bismuth and antimony. Samex closed at 8, up 1 on 219,000 shares.

On the back of a $203,000 financing, First Point Minerals added 4 to close at 24 on a volume of 1.5 million shares. The junior has started trenching on its Cacamuya gold property in Honduras.

Marum Resources tacked on 2 and closed at 15 on 1.4 million shares. Partners APEX Geoscience, Marum and Shear Minerals have reviewed the aeromagnetic data on the Birch Mountain diamond project in Alberta. The companies have selected 16 anomalies to explore. Nine of these are considered high-priority and have been targeted for drilling. Shear Minerals closed up 3 to 30 on 107,000 shares.

Mandorin Goldfields added 2 to its value and closed at 3 with 1.3 million shares crossing the floor. The company has a joint venture with a subsidiary of London-based Lonmin on and around the Tafuna Hill area in the Shamva district of Zimbabwe.