TSX gains, Nov. 14-18

Canada’s S&P/TSX Composite jumped 2.1% to 14,864.03, after gains in the energy sector and belief that U.S. president-elect Donald Trump would help boost the American economy. The S&P/TSX Global Mining Index, however, fell 1.7% to 63.09 and the S&P/TSX Global Gold Index plunged 5.9% to 193.72. Spot gold lost 1.6% to close at US$1,207.40 per ounce. The December contract for crude oil jumped 5.3% to US$45.69 per barrel.

Zazu Metals rose 25% to 20¢ per share after reporting that its shares would trade on the TSX Venture Exchange on Dec. 1, under the same trading symbol “ZAZ.” The exploration firm will voluntarily delist from the Toronto Stock Exchange at the end of November. Zazu has a 50% operating interest in the Lik zinc-lead-silver deposit in northern Alaska. It is moving the large-tonnage property to prefeasibility.

Anaconda Mining shares climbed 18.2% to 7¢ on the back of strong exploration results. The company completed the first exploration phase at its Viking gold project in Newfoundland, where it completed over 4,100 metres of diamond drilling and reassessed previous drilled core, among other activities. Anaconda hit gold-bearing alteration zones in 21 of 27 holes drilled, showing a widespread mineralizing system at Viking. The drilling extended the Thor deposit 100 metres along strike, for a total 650-metre strike length. Anaconda also intersected broad gold mineralization zones at the Viking trend and found new mineralization at Thor’s Cross.

Globex Mining shares gained 18.2% to close at 39¢, after the company optioned its Montalembert gold property in Quebec to Natan Resources. The agreement calls for Natan to pay $2.7 million and 8.5 million shares to Globex, along with $15 million in exploration to earn a 100% interest in the high-grade Montalembert property. Globex will receive a 6% gross metal royalty (9,000 oz.) of the first 150,000 oz. gold and silver recovered from the property, and a 3.5% gross metal royalty from all precious metal production thereafter.

NexGen Energy shares advanced 17.5% to $1.88. The uranium explorer reported strong exploration results from 38 holes drilled during the mid-year program on its Rook I property in Saskatchewan. NexGen continues to hit strong mineralization outside of the Arrow deposit’s A2 high-grade domain. For example, one hole hit 39 metres of total composite mineralization, including 9.1 metres of off-scale radioactivity below the grade shell of the A2 high-grade domain. In terms of infill drilling, the A2 shear continues to “exceed expectations,” while the A3 shear has also grown. Some 53 assays are pending from the 2016 program, including 33 from Arrow and 20 from the Harpoon discovery. Once NexGen receives all the assays from Arrow, it will incorporate them into the existing resource, with a resource update expected in first half of 2017.