TSX Venture Exchange -Feb. 23-March 1

After a shaky start the S&P/TSX Venture composite index ended the Feb. 23 -March 1 period on the up-and-up, leaving the board 9.14 points higher at 1,537.61. It seems Canadians were too distracted by the Olympics to focus on the markets, as daily trading volumes averaged just under 90 million.

And despite an overall gain on the board, bears outweighed bulls over the week: 47 Venture-listed companies reached new share price highs while 55 fell to new lows.

One of those reaching a new high was New Millennium Capital, which gained 11¢ to reach $1.15. A feasibility study on the company’s direct shipping ore (DSO) properties in Quebec defined 64 million tonnes of proven and probable reserves. For a US$300-million capital investment, the mine would have an average strip ratio of just over 1 for the 10-year life of mine and generate a 29% pre-tax internal rate of return.

Clifton Star Resources continued its share price climb, adding another 69¢ to reach $7.80. The junior announced a deal to purchase a 2% net smelter return royalty on eventual production from the Central Duparquet portion of its Quebec project from a private owner, for $155,000 cash and 10,000 shares. Clifton and partner Osisko Mining are advancing a 120,000-metre drill program at Duparquet.

Investors are certainly interested in Colombia these days and that interest help lift Galway Resources’ share price 28¢ to reach $1.24. The junior recently acquired the Reina de Oro project in Vetas, Colombia, and announced results from a channel sampling program. Assays such as 1,375 grams gold per tonne over 5 metres and 223.8 grams gold over 25 metres defined a vein with 70 metres strike and 1 metre width.

After defining the 10-million oz. Dorado gold deposit at its Volcan project in Chile, Andina Minerals’ focus has shifted to identifying new areas of high-grade mineralization nearby to boost the project’s economics. Results from one target, Ojo de Agua East, failed to impress investors, who pushed the company’s share price down 58¢ to $1.32. The five holes drilled returned several low-grade intercepts and several barren cores.

An initial estimate for San Gold Resources’ producing Hinge gold deposit in Manitoba pegged resources at 612,600 measured and indicated tonnes grading 13.4 grams gold plus 1.4 million inferred tonnes of the same grade. San Gold discovered Hinge in early 2008, starting driving a decline to the deposit a few months later, and is now mining 350 tonnes from the deposit daily. Similarly, the company discovered the 007 zone in late 2009 and is already advancing a decline from Hinge towards the new zone, which now hosts 687,560 measured and indicated tonnes grading 21.6 grams gold plus 1.7 million inferred tonnes averaging 21.9 grams gold. San Gold fell 23¢ over the week, to $3.51.

A resource estimate that boosted the contained copper count at the Haquira project above 11 billion lbs. lifted Antares Minerals’ share price 34¢ to $2.14. Antares is working on a preliminary economic assessment for the Peruvian project.

TSX-V most active issues
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Western Potash	WPX	11304	0.74	0.55	0.67	+ 0.11
First Gold Exp	EFG	10632	0.43	0.29	0.41	+ 0.07
Allana Res	AAA	10366	0.48	0.37	0.46	+ 0.10
Fission Energy	FIS	7864	1.20	0.93	0.96	+ 0.03
Seafield Res	SFF	7560	0.35	0.23	0.31	+ 0.06
RomarcoMnrls	R	7426	2.12	1.57	2.07	+ 0.39
MPH Vent	MPS	7099	0.12	0.06	0.06	-0.06
Universal Powr	UNX	6482	2.58	1.75	1.88	-0.14
Altai Res	ATI	6362	0.94	0.57	0.64	+ 0.18
Arctic Star Di	ADD	6118	0.08	0.06	0.08	0.00

TSX-V greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Garrison Intl	GAU	1931	0.08	0.04	0.05	+150.0
Philex Gold	PGI	321	0.73	0.40	0.69	+ 72.5
Canaf Group	CAF	266	0.05	0.03	0.05	+ 66.6
Fjordland Exp	FEX	1670	0.11	0.07	0.10	+ 66.6
Gold World Res	GDW	628	0.05	0.04	0.05	+ 66.6
Abitex Res	ABE	2597	0.22	0.14	0.22	+ 57.1
Sheltered Oak	OAK	83	0.14	0.09	0.14	+ 55.5
Dios Expl	DOS	859	0.34	0.23	0.32	+ 52.3
Williams Creek	WCX	142	0.10	0.07	0.09	+ 50.0
First Pursuit	FPV	93	0.28	0.19	0.28	+ 47.3
MPH Vent	MPS	7099	0.12	0.06	0.06	-50.0
Eureka Res	EUK	27	0.16	0.10	0.10	-47.3
Hansa Res	HRL	40	0.08	0.06	0.07	-36.3
Orestone Mng	ORS	80	0.11	0.07	0.07	-36.3
Tasman Metals	TSM	478	0.64	0.40	0.41	-33.8
OroAndes Res	OAR	80	0.12	0.09	0.10	-33.3
Red Rock Enrgy	RRK	20	0.08	0.06	0.06	-33.3
AMI Res	AMU	191	0.17	0.13	0.13	-31.5
Champion Minls	CHM	1143	1.44	1.00	1.00	-31.0
Andina Mnls	ADM	4960	1.90	1.25	1.32	-30.5

< td>2.14

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Clifton Star	CFO	429254	7.80	+ 0.65
RomarcoMnrls	R	7425632	2.07	+ 0.39
Antares Minls	ANM	681384	+ 0.34
Philex Gold	PGI	321300	0.69	+ 0.29
Galway Res	GWY	4067701	1.24	+ 0.28
Salazar Res	SRL	36230	1.10	+ 0.27
Bear Creek Mng	BCM	386290	3.95	+ 0.20
Altai Res	ATI	6361727	0.64	+ 0.18
Hana Mng	HMG	2698672	1.72	+ 0.17
East Asia Mnls	EAS	940364	4.04	+ 0.16
Andina Mnls	ADM	4959556	1.32	-0.58
Maudore Minls	MAO	147285	3.71	-0.45
Champion Minls	CHM	1143482	1.00	-0.45
McChip Res	MCS	16900	1.03	-0.27
San Gold Res	SGR	5057280	3.51	-0.23
Tasman Metals	TSM	478189	0.41	-0.21
Anfield Nickel	ANF	160153	2.50	-0.20
Mirasol Res	MRZ	310741	2.45	-0.17
Canadn Shield	EXP	11975	1.10	-0.15
Chesapeake Gld	CKG	172239	9.70	-0.15