TSX Venture Exchange -December 8-14

For a third consecutive five-day trading period, the S&P/TSX Venture composite index bounced around the 1,400 level. Between Dec. 8 and 14, the index lost 9.32 points to close at 1,425.08. A 32-point dip on the first day of the reporting period accounted for the overall loss. Otherwise, the Venture board incrementally regained about 13 points over four subsequent trading days.

An army of 52-week highs continued to outnumber 52-week lows, with 70 companies reaching the former and 27 the latter. Though precious metal prices dipped moderately, while base metals held more or less steady over the reporting period, it was still by and large gold projects propelling investor excitement.

A prime example was East Asia Minerals, which shot up $1.20 to close at $3.83. Happy news from a single drill-hole at its Miwah project in Indonesia fuelled East Asia’s latest gains.

Though it was only a lone intercept, it was a nice one. Hole 14 hit 101 metres grading 1.38 grams gold per tonne starting 76 metres down-hole. East Asia noted hole 14 was beyond Miwah’s main gold zone and signified “potential to expand considerably” the target’s mineralized area. So far, it has drill-tested 900 metres of strike length at the 85%-owned Miwah property, a high-sulphidation epithermal gold project.

Another on the gold list was Rainy River Resources. Its shares marched upwards 91¢ to $3.54. Rainy River’s fortunes stem from the potential of its Rainy River gold project in northwestern Ontario, not far from the provincial border with Manitoba. So far, Rainy River has outlined an indicated resource estimate of 55.6 million tonnes grading 1.24 grams gold for contained gold of 2.2 million oz.

However, the company recently noted it still has 110 holes with which to update that resource estimate.

Interest in its California gold project in Colombia boosted Galway Resources’ shares. Galway was up 33¢ to $1.66 on news it had started drilling at the project. The 4,500-metre drill program is following up on earlier sampling that showed high grades of gold and silver in historic adits on the project. Anaconda Mining operated a gold mine on the property for a year until 1947, when armed conflict intervened.

Bets were on for Canadian Shield, up 56¢ to $1.65. It announced it was going it alone in Peru with a database of mineral-related information it acquired through purchase of a 90% interest in Gallant Minerals Peru. Canadian Shield had earlier penned a non-binding agreement with Kinross Gold to generate precious metals prospects using the database. Given the metals market, however, Canadian Shield says it thinks it best to forge ahead on its own for a while.

In absolute terms, the two companies with the greatest losses over the five-day trading period were Maudore Minerals, down 55¢ to $3.95, and Anfield Ventures, off 45¢ to $2.85.

TSX-V most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Freewest Res FWR 70297 0.99 0.88 0.96 + 0.06
Gold Hawk Res CGK 13548 0.04 0.03 0.04 0.00
Svit Gold SDP 13355 0.22 0.12 0.18 + 0.04
Avion Res AVR 12157 0.47 0.38 0.46 0.00
Appleton Expl AEX 11660 0.19 0.13 0.17 + 0.03
Canasia Indust CAJ 11161 0.19 0.14 0.14 -0.02
Allana Res AAA 9427 0.37 0.26 0.31 + 0.04
TagishLkGold TLG 8437 0.04 0.02 0.03 +0.01
Noront Res NOT 7749 2.57 1.92 2.09 -0.38
Spider Res SPQ 7662 0.06 0.05 0.05 0.00
TSX-V greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Zinco Mng ZIM 439 0.31 0.12 0.27 +145.4
Firesteel Res FTR 10 0.10 0.05 0.10 +100.0
Rome Res RMR 371 0.42 0.28 0.42 + 82.6
Highbank Res HBK 4818 0.11 0.05 0.09 + 80.0
Diagnos ADK 3830 0.54 0.30 0.50 + 66.6
Dot Res DOT 63 0.12 0.06 0.10 + 66.6
Crazy Horse Rs CZH 190 0.50 0.31 0.41 + 51.8
Canadn Shield EXP 402 1.68 1.09 1.65 + 51.3
La Quinta Res LAQ 19 0.12 0.11 0.12 + 50.0
NewShoshoniV NSV 490 0.14 0.09 0.12 + 50.0
Chilean Gold CHN 43 0.38 0.22 0.22 -40.5
Tribute Res TRB 75 0.12 0.10 0.12 -40.0
Verbina Res VUR 11 0.29 0.21 0.21 -38.2
Taranis Res TRO 15 0.15 0.15 0.15 -37.5
Goldbank Mng GLB 47 0.08 0.07 0.07 -36.3
Deloro Res DLL 184 0.16 0.11 0.11 -35.2
Agau Res AGS 12 0.09 0.04 0.04 -33.3
C2C Gold CCN 494 0.03 0.02 0.02 -33.3
Oro Gold Res OGR 3829 0.60 0.40 0.41 -30.5
Nevgold Res NDG 29 0.25 0.17 0.17 -29.1
TSX-V greatest value change
WEEK
VOLUME CLOSE CHANGE
East Asia Mnls EAS 5682530 3.83 + 1.20
Rainy River Rs RR 2165972 3.54 + 0.91
Canadn Shield EXP 402125 1.65 + 0.56
Quest Uranium QUC 1277201 2.72 + 0.33
Galway Res GWY 4710368 1.66 + 0
.33
Metalex Vent MTX 56610 1.19 + 0.31
Diagnos ADK 3829655 0.50 + 0.20
Rome Res RMR 371480 0.42 + 0.19
Zinco Mng ZIM 439122 0.27 + 0.16
Lara Expl LRA 173500 0.91 + 0.15
Maudore Minls MAO 280118 3.95 -0.55
Anfield Vent ANF 141750 2.85 -0.45
Noront Res NOT 7748744 2.09 -0.38
Bear Creek Mng BCM 828436 4.05 -0.22
Oro Gold Res OGR 3828600 0.41 -0.18
Lovitt Res LRC 34500 0.65 -0.15
Chilean Gold CHN 43145 0.22 -0.15
James Bay Res JBR 126833 0.51 -0.13
Grayd Res GYD 1272500 0.61 -0.13
Dorato Res DRI 2331695 1.09 -0.13
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