Tricks and treats mark Venture trading

Vancouver — The trading session Oct. 25-31 was more chills than thrills as gold prices bounced around and then fell from recent highs, clipping the share prices of some junior companies in the process. While trading was relatively active, the overall trend was down, with the S&P-TSX Venture Composite Index shedding 16.43 points to close at 1,990.44 over the session.

Diagem International Resource was the most active trader over the session, but remained flat at a dime. The junior has a number of diamond properties in Brazil, including one covering the Collier-04 kimberlite. Earlier this summer, the company received an environmental licence that allows it to advance the project toward production.

Solitaire Minerals was the second most active trader, up 2 to close at 14. The junior is getting market attention for its newly acquired Alberta permits, reported to be prospective for roll-front type uranium mineralization.

Southern Silver Exploration was treated to a 20 gain, closing at 55. The junior recently completed a non-brokered $1-million private placement for various exploration projects in Mexico and Arizona, but got its market boost after announcing it had acquired a “potential high-grade” copper prospect in Jalisco, Mexico. Previous surface sampling and limited drilling have revealed three mineralized breccias. Several areas of high-grade mineralization within these breccias are viewed as prime targets.

Arizona Star Resource was the largest value gainer over the report period, up 71 to $5.01. The company and partner Bema Gold have resolved their dispute with Placer Dome over development of the Cerro Casale gold-copper project in Chile. Placer agreed to bow out of its 51% interest, on the promise of cash down the road, leaving Bema and Arizona Star free to pursue financing options for the project on their own, or perhaps with a new senior partner.

AuEx Ventures jumped 62 to $1.19, despite mixed drill results from its Pequop property in Nevada’s Elko Cty. One hole returned 80 ft. of 0.072 oz. gold; others returned anomalous values. The company has 11 other properties in Nevada.

Oil-and-gas company Bison Resources gained 61 to $8.26, showing that energy companies continue to give mining-related companies a run for their money.

Seymour Exploration, the new owner of the dormant Lynn Lake nickel mine in Manitoba, climbed 9 to 41. Former partner Wallbridge Mining elected to take an equity position in Seymour instead of participating in the project directly. Seymour says it is now free to deal with the property as it sees fit, and “may entertain arrangements with other parties interested in developing a new nickel mine in North America.” The project is the subject of a scoping study expected to be released shortly.

Montreal-based Gold Hawk Resources got a 3 boost to 11 after announcing the acquisition of a past-producing mine property in Peru. The Tamboraque mine project hosts silver-lead-zinc-copper resources that the company plans to bring up to National Instrument 43-101 reporting standards.

After months of steady gains, Birch Mountain Resources fell back 21 to $5.85. The company holds industrial minerals permits in Alberta.

Coal producer Pine Valley Mining took a 50 hit to $3.70. Coal companies on the senior boards are also experiencing a mini-correction after months of steady market gains.