As gold moved in on US$1,000 per oz. and other metals remained strong, the junior mining- dominated S&P-TSX Venture Composite Index climbed 108.33 points to close the Feb. 26-March 3 trading session at 2,794.57. Daily trading volumes made significant gains over the session, averaging 123.8 million shares.
Market sentiment improved over the week with 29 explorers rising to new annual highs against 88 that dropped to new 52-week lows.
On more than 30 million shares traded, Hathor Exploration was the week’s most active junior, posting a whopping 290% gain to close the session up $1.44 at $1.94 per share. Drilling on its 90%-owned Midwest Northeast uranium project, located in the northeastern section of Saskatchewan’s Athabasca basin, returned 11.9 metres of 5.29% U3O8, including narrow intervals of up to 40.2% U3O8 across 20 cm.
Buoyed by the rise in bullion, Peak Gold saw 27 million shares change hands during the session and posted a 12% gain, closing up 7 at 67 per share. The company operates the Peak mine in Australia and the Amapari mine in Brazil.
Beartooth Platinum traded more than 15.4 million shares, dropping a penny to 13 per share. Recent drilling at the company’s Stillwater project in Montana returned wide intervals of low-grade platinum group metal mineralization in the Chrome Mountain zone, including 231 metres of 0.7 gram combined gold-platinum-palladium per tonne. Narrow intervals (0.3 metre) of up to 11.9 grams gold-platinum-palladium were also encountered. South African supply disruptions have triggered a strong surge in platinum group metal prices.
Sage Gold traded 14.3 million shares over the week, closing unchanged at 31 per share. Drilling on the company’s Onaman project, in Ontario’s Beardmore-Geraldton greenstone belt, returned 12.1 metres grading 3.2% copper, 87.6 grams silver per tonne and 1.3 grams gold.
Word that Noront Resources had discovered a second massive sulphide occurrence near its Eagle One zone, in the McFauld’s Lake area of northeastern Ontario, boosted its stock 30% for a gain of $1.53 to $6.57 per share on 13.7 million shares traded.
After reporting a high-grade nickel intercept from its Kenbridge project, near Kenora in northwestern Ontario, Canadian Arrow Mines posted an 84% gain for the session, closing up 21 at 46 per share on over 13.5 million shares traded. Drilling cut 21.5 metres of 2.95% nickel, 0.82% copper and 0.07% cobalt, including a 5.5-metre section running 7.2% nickel and 0.67% copper.
With trading volume of almost 13.1 million shares, VMS Ventures gained 29% on the week to close up 22 at 97 per share. Drilling on its Reed Lake project, near Snow Lake in northern Manitoba, recently returned intercepts of up to 52 metres grading 2.25% copper, 3.2% zinc, 17.4 grams silver and 1.4 grams gold, including a 4.6-metre section of 8.5% copper, 5.1% zinc, 58.3 grams silver and 4.9 grams gold.
TSX-V most active issues | |||||
VOLUME | WEEK | ||||
(000s) | HIGH | LOW | CLOSE | CHANGE | |
Hathor Expl HAT | 30048 | 2.45 | 0.69 | 1.94 | + 1.44 |
Peak Gold PIK | 27080 | 0.69 | 0.59 | 0.67 | + 0.07 |
KWG Res KWG | 19801 | 0.115 | 0.09 | 0.105 | 0.00 |
MacDonald Mns BMK | 18943 | 0.60 | 0.50 | 0.54 | -0.02 |
Beartooth Plat BTP | 15464 | 0.195 | 0.12 | 0.13 | -0.01 |
Sage Gold SGX | 14343 | 0.405 | 0.29 | 0.31 | 0.00 |
Noront Res NOT | 13739 | 7.42 | 5.40 | 6.57 | + 1.53 |
Canadn Arrow CRO | 13580 | 0.57 | 0.255 | 0.46 | + 0.21 |
VMS Vent VMS | 13095 | 1.13 | 0.69 | 0.97 | + 0.22 |
Spider Res SPQ | 11974 | 0.15 | 0.115 | 0.145 | + 0.015 |
TSX-V greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Hathor Expl | HAT | 30048 | 2.45 | 0.69 | 1.94 | +288.0 |
Terra Vent | TAS | 4791 | 0.65 | 0.225 | 0.58 | +176.1 |
Wellstar Enrgy | WST | 668 | 0.135 | 0.065 | 0.10 | +100.0 |
African Metals | AFR | 184 | 0.70 | 0.42 | 0.70 | +100.0 |
G4G Res | GXG | 126 | 0.19 | 0.105 | 0.19 | + 90.0 |
Universal Powr | UNX | 3334 | 0.92 | 0.42 | 0.75 | + 87.5 |
Canadn Arrow | CRO | 13580 | 0.57 | 0.255 | 0.46 | + 84.0 |
BCM Res | B | 78 | 0.415 | 0.28 | 0.415 | + 72.9 |
Lyra Res | LYR | 741 | 0.075 | 0.035 | 0.05 | + 66.6 |
Champion Minls | CHM | 65 | 0.50 | 0.31 | 0.50 | + 66.6 |
Manson Creek | MCK | 47 | 0.105 | 0.06 | 0.09 | -47.0 |
Zinco Mng | ZIM | 10 | 0.20 | 0.15 | 0.15 | -42.3 |
Sidon Intl Res | SD | 203 | 0.07 | 0.06 | 0.07 | -41.6 |
Trivalence Mng | TMI | 150 | 0.20 | 0.14 | 0.15 | -34.7 |
Hudson Res | HUD | 2877 | 1.20 | 0.60 | 0.60 | -33.3 |
Tanqueray Res | TQY | 11 | 0.07 | 0.05 | 0.065 | -31.5 |
Evolving Gold | EVG | 2648 | 2.45 | 1.55 | 1.70 | -30.8 |
Q-Gold Res | QAU | 130 | 0.115 | 0.085 | 0.09 | -30.7 |
Glen Hawk Minl | GHM | 25 | 0.09 | 0.05 | 0.05 | -28.5 |
Majestic Gold | MJS | 1123 | 0.25 | 0.145 | 0.18 | -28.0 |
TSX-V greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
SouthGobi Engy | SGQ | 376505 | 13.67 | + 1.98 |
Noront Res | NOT | 13739316 | 6.57 | + 1.53 |
Hathor Expl | HAT | 30048366 | 1.94 | + 1.44 |
Clifton Star |
CFO | 150040 | 3.05 | + 0.90 |
Bear Creek Mng | BCM | 1214093 | 8.36 | + 0.76 |
Tirex Res | TXX | 1227144 | 3.70 | + 0.60 |
Keegan Res | KGN | 583993 | 5.45 | + 0.58 |
Fancamp Expl | FNC | 3268557 | 2.73 | + 0.58 |
SilverStone Rs | SST | 1254883 | 3.50 | + 0.57 |
Waratah Coal | WCI | 1794407 | 3.70 | + 0.55 |
Seabridge Gold | SEA | 103704 | 25.55 | -2.73 |
Evolving Gold | EVG | 2647696 | 1.70 | -0.76 |
Digger Res | DIG | 57350 | 2.76 | -0.74 |
Pan Oce Exp | POE | 492783 | 13.19 | -0.61 |
Kodiak Expl | KXL | 3427788 | 2.68 | -0.51 |
Pac Booker Min | BKM | 37416 | 9.90 | -0.40 |
Canplats Res | CPQ | 1140605 | 3.20 | -0.37 |
Antares Minls | ANM | 125895 | 3.69 | -0.31 |
Titanium Corp | TIC | 3075021 | 1.70 | -0.30 |
Hudson Res | HUD | 2877074 | 0.60 | -0.30 |
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