Though trading volumes remained high, the S&P/TSX Venture composite index rang in the beginning of December cautiously, with a modest 19.34-point gain over the Dec. 1-7 reporting period. The Venture board closed out the week at 1,434.4 points. But as has been the case for much of the final quarter of 2009, average daily trading volumes came in at a clip of about 137 million shares.
Metal prices helped hold the Venture board steady. Gold glided just below US$1,200 per oz., silver skirted US$18 per oz. and copper skipped along just above US$3 per lb. The bulk of 52-week highs and lows were in the former category — and with 116 companies hitting new yearly peaks, the high-fliers outnumbered the 52-week bottom dwellers by around 4.5 to 1.
One of the best performers was Dorato Resources. Gaining 42¢ to $1.22, investors are likely getting excited about the potential of the company’s Taricori gold-silver vein system in the Condor gold-silver belt of northern Peru. Condor, the same district that holds Kinross Gold’s Fruta del Norte deposit in neigbouring Ecuador, has yielded high grades of gold and silver for Dorato. Most recently, the company reported sampling in the range of 6.2 grams gold to 103.4 grams gold per tonne and 0.9 gram silver to 338 grams silver.
Eurasian Minerals saw its share price jump 48¢ to $2.38. Its drills on the Grand Bois property in Haiti hit as much as 28 metres grading 20.45 grams gold per tonne and 21 metres at 10.19 grams gold as part of a 17-hole drilling campaign designed to confirm a historic resource and extend mineralization. The results suggest it is achieving both. So far, Eurasian has outlined a 300 by 350-metre mineralized area at Grand Bois. Eurasian’s joint-venture partner, major Newmont Mining, has an option to earn a 65% interest in the project.
Clifton Star Resources extended its meteoric rise during November into December. It was up 50¢ to $4.40 for the first week of December, adding to a near doubling of its share price the month before. For Clifton, Osisko Mining is Santa Claus bearing cash gifts as part of a joint-venture agreement the two signed in mid-November; the deal could see as much as $70 million going Clifton’s way in exchange for a 50% interest in its Duparquet gold project, in Quebec. The project has a measured and indicated resource of 307,850 oz. gold at a cutoff grade of 2.4 grams gold per tonne.
It was clear skies for Rainy River Resources, up 41¢ to $2.63. Rainy River announced at the start of the reporting period drill results from its exploration project in northern Ontario. Intercepts included 4.5 metres grading 25.33 grams gold per tonne in the ODM deep zone and 34.6 metres at 5.31 grams gold in the Beaver Pond area.
Finally, goodbye to SouthGobi Energy Resources, which is moving to Toronto’s main board from the Venture exchange. In terms of value, its shares climbed the most of any during the week, gaining 60¢ to $15.20.
| TSX-V most active issues | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Freewest Res | FWR | 22860 | 0.92 | 0.76 | 0.90 | + 0.14 |
| Avion Res | AVR | 17944 | 0.52 | 0.43 | 0.46 | 0.00 |
| RomarcoMnrls | R | 17641 | 1.81 | 1.41 | 1.46 | -0.28 |
| Terrane Metals | TRX | 9874 | 1.64 | 1.34 | 1.49 | -0.03 |
| San Gold Res | SGR | 9338 | 4.13 | 3.48 | 3.60 | -0.18 |
| Victoria Gold | VIT | 8777 | 0.82 | 0.67 | 0.71 | + 0.04 |
| Noront Res | NOT | 8644 | 2.67 | 2.21 | 2.47 | + 0.18 |
| Alto Vent | ATV | 7166 | 0.06 | 0.04 | 0.04 | -0.01 |
| Galore Res | GRI | 7133 | 0.31 | 0.14 | 0.16 | -0.13 |
| Andina Mnls | ADM | 6763 | 2.18 | 1.67 | 1.95 | + 0.29 |
| TSX-V greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Oro Nevada Res | ONV | 13 | 0.10 | 0.10 | 0.10 | +900.0 |
| Prominex Res | PXR | 171 | 0.05 | 0.03 | 0.05 | +150.0 |
| Dot Res | DOT | 13 | 0.06 | 0.05 | 0.06 | +100.0 |
| Duncan Park H | DPHH | 424 | 0.04 | 0.02 | 0.04 | +100.0 |
| Tanqueray Res | TQY | 556 | 0.04 | 0.01 | 0.04 | +100.0 |
| Royal Roads | RRO | 354 | 0.11 | 0.09 | 0.11 | + 83.3 |
| Remstar Res | REM | 2114 | 0.11 | 0.06 | 0.09 | + 80.0 |
| Portal Res | PDO | 135 | 0.09 | 0.06 | 0.08 | + 60.0 |
| Dorato Res | DRI | 2400 | 1.25 | 0.83 | 1.22 | + 52.5 |
| Goldbank Mng | GLB | 75 | 0.12 | 0.07 | 0.12 | + 50.0 |
| Galore Res | GRI | 7133 | 0.31 | 0.14 | 0.16 | -44.8 |
| Kernow Res | KRD | 1003 | 0.14 | 0.09 | 0.09 | -35.7 |
| Whitemud Res | WMK | 890 | 0.44 | 0.27 | 0.28 | -34.8 |
| East West Res | EWR | 2066 | 0.03 | 0.02 | 0.02 | -33.3 |
| Finlay Minrls | FYL | 233 | 0.10 | 0.08 | 0.08 | -33.3 |
| Intl Northair | INM | 347 | 0.17 | 0.12 | 0.12 | -29.4 |
| Cascadia Res | CCR | 129 | 0.06 | 0.05 | 0.05 | -28.5 |
| Laurion Mnl Ex | LME | 1756 | 0.06 | 0.05 | 0.05 | -28.5 |
| Augen Capital | AUG | 128 | 0.08 | 0.05 | 0.05 | -28.5 |
| Nebu Res | NBU | 3343 | 0.52 | 0.37 | 0.38 | -28.3 |
| TSX-V greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| SouthGobi Engy | SGQ | 168325 | 15.20 | + 0.60 |
| Maudore Minls | MAO | 308448 | 4.50 | + 0.50 |
| Clifton Star | CFO | 704326 | 4.40 | + 0.50 |
| Eurasian Minls | EMX | 1265238 | 2.38 | + 0.48 |
| East Asia Mnls | EAS | 4539721 | 2.63 | + 0.42 |
| Dorato Res | DRI | 2399793 | 1.22 | + 0.42 |
| Rainy River Rs | RR | 1583673 | 2.63 | + 0.41 |
| Anfield Vent | ANF | 302100 | 3.30 | + 0.36 |
| Andina Mnls | ADM | 6763333 | 1.95 | + 0.29 |
| Mansfld Mnrls | MDR | 838200 | 1.46 | + 0.21 |
| RareElemntRs | RES | 659313 | 3.23 | -0.40 |
| Quest Uranium | QUC | 935527 | 2.39 | -0.28 |
| RomarcoMnrls | R | 17640653 | 1.46 | -0.28 |
| Bear Creek Mng | BCM | 2095220 | 4.27 | -0.22 |
| Aldridge Minls | AGM | 529535 | 1.05 | -0.19 |
| Hana Mng | HMG | 1644566 | 0.65 | -0.19 |
| San Gold Res | SGR | 9337837 | 3.60 | -0.18 |
| Magellan Minls | MNM | 204026 | 0.79 | -0.18 |
| Sacre-Coeur Ml | SCM | 307417 | 0.87 | -0.16 |
| Nebu Res | NBU | 3342698 | 0.38 | -0.15 |
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