Apart from a slight slide on the last day, the April 6-12 trading week was a healthy one for the S&P/TSX Venture composite index: the board gained 42.21 points to close at 1673.67. Daily trading volumes remained very strong, averaging 129 million.
The board’s rising average lifted 92 junior companies to new 52-week share price highs. Only 59 Venture-listed companies fell to new lows during the week.
Despite not releasing any news, Copper Fox Metals moved more shares than any other company on the Venture board over the week. The junior gained 19¢, doubling its share price to reach 38¢, on 20.8 million trades. Copper Fox is nearing completion of a feasibility study on its flagship Schaft Creek copper-molybdenum-gold-silver project in northwest British Columbia, investigating the merits of a 100,000-tonne-per-day open-pit mine operating for at least 22 years.
After almost tripling its share price on some impressive early gold intercepts at its Coldstream gold project in Ontario the previous week, Foundation Resources’ share price settled significantly, losing 32¢ to close at 54¢. The fall occurred despite another set of drill results from Coldstream that included such intercepts as 111 metres grading 1.12 grams gold per tonne.
News that the historic Lamaque gold mine in Quebec will soon be producing gold again, lifted Century Mining’s share price 21¢ to reach 63¢ by the end of the week. Century reopened the old mine in January and, with 115 employees now at work, is mining on two stopes and preparing a third. The company expects to pour its first Lamaque gold before July.
Antares Minerals rose on news that initial metallurgical studies on rock samples from the company’s Haquira project in Peru indicate good copper recoveries using conventional grinding and flotation. The Haquira porphyry hosts copper, molybdenum, gold and silver; testwork showed reasonable recoveries for the latter three minerals as well. Antares expects to release an updated Haquira scoping study soon.
Callinan Mines’ share price continued its sustained climb, adding another 13¢ to reach $1.70. The company holds a 6.67% net profits interest in HudBay Minerals’ 777 mine in Flin Flon, Man., which results in quarterly payments of between $2 million and $3 million. Callinan also won a small step in its legal battle with HudBay in February, allowing it to continue fighting for access to the major’s book and an order compelling HudBay to recalculate the net profits payments based on a larger amount.
Another set of high-grade gold hits from the Miwah gold project in Indonesia is propelling East Asia Minerals to yet another share price high: the junior gained $1.13 in five days to close at $7.53. East Asia’s drills probed north of the Miwah Main zone, towards a prospect known as Moon River, and encountered 111 metres grading 3.96 grams gold, including 22 metres of 15.74 grams gold, indicating potential for the zone to increase in both grade and thickness to the north.
TSX-V most active issues | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Copper Fox Mtl | CUU | 20795 | 0.44 | 0.19 | 0.38 | + 0.19 |
Majestic Gold | MJS | 20674 | 0.27 | 0.09 | 0.22 | + 0.16 |
Arian Silver | AGQ | 17509 | 0.17 | 0.09 | 0.16 | + 0.08 |
Skyline Gold | SK | 12507 | 0.15 | 0.09 | 0.14 | + 0.06 |
Foundation Res | FDN | 11442 | 0.88 | 0.53 | 0.54 | -0.32 |
Sage Gold | SGX | 11210 | 0.04 | 0.03 | 0.04 | 0.00 |
Canada Lithium | CLQ | 10798 | 0.74 | 0.63 | 0.69 | 0.00 |
KWG Res | KWG | 10573 | 0.13 | 0.12 | 0.12 | 0.00 |
Medoro Res | MRS | 10091 | 0.69 | 0.58 | 0.67 | + 0.05 |
Century Mining | CMM | 10084 | 0.64 | 0.43 | 0.63 | + 0.21 |
TSX-V greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Majestic Gold | MJS | 20674 | 0.27 | 0.09 | 0.22 | +266.6 |
Northern Plat | NTH | 6792 | 0.49 | 0.16 | 0.49 | +250.0 |
Copper Fox Mtl | CUU | 20795 | 0.44 | 0.19 | 0.38 | +100.0 |
Arian Silver | AGQ | 17509 | 0.17 | 0.09 | 0.16 | +100.0 |
GMV Minerals | GMV | 366 | 0.09 | 0.06 | 0.09 | + 80.0 |
Skeena Res | SKE | 2987 | 0.08 | 0.04 | 0.07 | + 75.0 |
Skyline Gold | SK | 12507 | 0.15 | 0.09 | 0.14 | + 75.0 |
Altair Vent | AVX | 469 | 0.17 | 0.10 | 0.17 | + 70.0 |
Horseshoe Gld | HSX | 995 | 0.10 | 0.06 | 0.10 | + 66.6 |
Micrex Devel | MIX | 193 | 0.23 | 0.12 | 0.17 | + 54.5 |
Foundation Res | FDN | 11442 | 0.88 | 0.53 | 0.54 | -37.2 |
Manitou Gold | MTU | 135 | 0.53 | 0.35 | 0.36 | -34.5 |
OroAndes Res | OAR | 1165 | 0.12 | 0.10 | 0.10 | -33.3 |
Sanatana Diam | STA | 438 | 0.17 | 0.12 | 0.12 | -29.4 |
Ross River Mnl | RRM | 359 | 0.07 | 0.05 | 0.05 | -28.5 |
Tiex | TIX | 51 | 0.07 | 0.05 | 0.05 | -28.5 |
Island Arc Exp | IAX | 130 | 0.07 | 0.05 | 0.05 | -28.5 |
Solex Res | SOX | 62 | 0.14 | 0.10 | 0.11 | -26.6 |
Gulfside Mnls | GMG | 47 | 0.38 | 0.31 | 0.31 | -26.1 |
Leeward Capitl | LWC | 5008 | 0.04 | 0.03 | 0.03 | -25.0 |
TSX-V greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
East Asia Mnls | EAS | 4666927 | 7.53 | + 1.13 |
Pac Booker Min | BKM | 65026 | 8.95 | + 0.95 |
Centurion Mnls | CTN | 1457015 | 1.36 | + 0.47 |
Antares Minls | ANM | 459125 | 3.00 | + 0.45 |
San Gold Res | SGR | 7787381 | 3.62 | + 0.42 |
Quest Uranium | QUC | 2460154 | 3.68 | + 0.41 |
Universal Powr | UNX | 1783601 | 2.35 | + 0.36 |
Northern Plat | NTH | 6791500 | 0.49 | + 0.35 |
Lumina Copper | LCC | 466020 | 1.53 | + 0.35 |
Anfield Nickel | ANF | 101220 | 3.00 | + 0.30 |
St Elias Mns | SLI | 7311012 | 1.38 | -0.42 |
Foundation Res | FDN | 11441533 | 0.54 | -0.32 |
Chesapeake Gld | CKG | 85604 | 7.81 | -0.31 |
Sunward Res | SWD | 142650 | 1.25 | -0.24 |
Merit Mng | MEM | 14972 | 0.72 | -0.21 |
Manitou Gold | MTU | 135100 | 0.36 | -0.19 |
Tsodilo Res | TSD | 475011 | 1.92 | -0.18 |
CBR Gold | CBG | 834513 | 0.59 | -0.18 |
Salazar Res | SRL | 36164 | 1.04 | -0.14 |
Northquest | NQ | 45000 | 0.50 | -0.13 |
Be the first to comment on "TSX Venture Exchange April 6-12"