Junior market shows staying power

Buoyed by strong metal prices, the S&P-TSX Venture Exchange continued its upward trend over the Nov. 22-28 trading session, gaining 18.57 points to close at 2050.11. Average daily trading volumes increased slightly to 37.9 million shares over the week.

The weekly score of new highs versus lows remained lopsided toward the bearish side, with 43 companies managing new 52-week highs against 108 companies dropping to annual lows.

Top volume honours went to Ecstall Mining with over 8.5 million shares trading hands over the week and gaining 7 to close at 17 per share. Option partner Mantle Resources received assay results from its initial drill hole on the Akie base metal project, in northeastern British Columbia, showing high-grade zinc mineralization. Mantle can earn an interest of up to 65% in the project from Ecstall, which currently holds a 40% stake and has an option-to-purchase agreement with Inmet Mining to acquire the remaining 60%. Mantle traded over 3.2 million shares and gained 18 to close at 92 per share.

Sea Green Capital traded over 6 million shares on the week, gaining 9 to close at 19 per share. The company recently inked an agreement acquiring an interest in the North project, in Casa Berardi Twp., Que., and in claims in Ogden Twp. in northern Ontario.

Tamerlane Ventures saw over 4.7 million shares change hands, dropping 2.5 to close at 17.5 per share. The company has aspirations of placing the old Pine Point lead-zinc project in the Northwest Territories back into production. Recent drilling has intersected a number of high-grade lead-zinc mineralized intercepts.

Beartooth Platinum saw volume of over 4.4 million shares in the trading session, gaining 1.5 to close at 13 per share. The explorer has been drilling its Stillwater Complex area project in southern Montana and announced financing plans to raise up to $1 million.

With production now on-stream from its Cantung mine, North American Tungsten posted volume of almost 4 million shares on the week, trading up 15 to close at $1.47 per share. The reactivated producer recently closed a $5-million financing.

Investors traded over 3.1 million shares of Cypress Development, which closed up a penny at 12.5 per share. The company has begun exploration on its McKenzie Island gold project in northwestern Ontario’s Red Lake camp.

Entre Gold churned through 3.1 million shares over the week, grabbing a penny to close at $1.69. The Mongolian-focused explorer underwent a flurry of trading following news of draft mineral policy amendments.

Following strong recent gains, investors took some profit in Birch Mountain Resources, which traded down almost one dollar to close at $8.05 per share on volume of 2.4 million shares.

Uranium hunter Laramide Resources posted gains of $1.84 to close at $7.20 on trading volume of 1.2 million. The explorer closed over $14 million in financings primarily earmarked for its flagship Westmoreland copper-gold-uranium project in Queensland, Australia. The company also recently acquired a number of uranium properties, mill sites, and mineral claims and interests in Colorado, New Mexico and Utah from subsidiaries of Barrick Gold.