Vancouver — Canada’s junior exchange entered the Christmas season on a bullish note, posting gains on all indices during the week ended Dec. 4. The Canadian Venture Exchange composite index added 15.81 points (or 0.5%) to its value and closed at 3080.43. The mining index climbed 72.42 points (0.9%) and finished the period at 7,918.49.
Getty Copper tacked on 6 to close the week at 11 with 3.1 million shares crossing the floor. The junior intends to develop its Highland Valley copper deposits in British Columbia using solvent extraction-electro-winning. New variations of this technology are being studied in order to improve projected copper recoveries.
FoxPoint Resources shares failed to benefit from the signing of an agreement with Kinross Gold for the acquisition of the Macassa mine and mill and four adjacent properties. The company remained flat at $1.25 on a volume of 1.2 million shares.
Cantex Mine Development ended the week steady at 6 on just over 1 million shares. The Charles Fipke-led junior is evaluating gold and base metal projects in Yemen and has an interest in a promising diamond project in Greenland.
Harambee Mining came back to life after being declared inactive by the exchange on Sept. 7. Its shares climbed 3 to 5 on a volume of 1 million. The cash-strapped junior recently wrote off its investment in exploration ground in the Democratic Republic of Congo and is seeking financing to seek out other exploration opportunities.
Shares in Radius Explorations failed to get a boost on news that South African-based Gold Fields has inked a deal to earn up to 70% in Radius’s Tambor gold property in Guatemala. The Simon Ridgway-led company flat lined at 23 on the exchange of 1 million shares. At last report, the diamond drill rig was being mobilized to the Lupita zone, where five of seven previously reported reverse-circulation holes bottomed in phyllite-hosted gold mineralization.
Orko Gold dropped 9 to close at 21 on 909,000 shares. The company is shifting focus from mineral exploration to an investment issuer.
Seahawk Minerals cut its value in half, dropping 4 and closing at 4 on 852,000 shares. The company reported a loss of $719,000 in the first nine months of the year. During that time, the company spent $940,000 on its 75%-owned Piteiras emerald property in Brazil’s Minas Gerais state.
Boulder Mining jumped 12 and closed at 14 on 709,000 shares. In April, the junior picked up the El Fuerte property in Sinaloa state, Mexico, for US$1,000 in cash and 100,000 shares.
Silver Standard Resources jumped 32 and closed at $3.33 after Toronto-listed Pacific Rim Mining announced it had agreed to sell its Diablillos silver-gold project to the junior. Silver Standard will pay US$3.4 million in cash and stock for the asset.
Leader Mining International dropped 15 to close at $2.40. The junior has turned the Cogburn nickel property, near Hope, B.C., into a magnesium project. Leader also plans to drill on its nearby, newly acquired Andy and Roman claims, another magnesium prospect.
Aurora Platinum added 21 to its value and closed at $2.65. The junior continues to explore for nickel-copper-platinum-palladium mineralization in Ontario and Quebec. On the Foy project in the Sudbury area, Aurora launched a second round of drilling on the Nickel Lake discovery.
Atacama Minerals added 8 to end the week at 60. The junior holds a half-stake in the Aguas Blancas iodine project in Chile.
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