TSX Venture Exchange – Jan. 20-26

As Barack Obama was inaugurated in the United States and the price of gold gained more than US$70 per oz., the S&P/TSX Venture composite index saw another week of small gains and losses. At the end of the Jan. 20-26 trading session, the index was down 5.79 points to close at 867.16. Daily trading volumes were on the low side, averaging 49.3 million.

Two companies on the junior board climbed to new share price highs over the week — International Tower Hill Mines and Romarco Minerals–while 78 juniors fell to new share price lows.

In achieving its new high, International Tower Hill’s share price also saw the Venture board’s biggest gain of the week. Shares in the gold explorer rose 67¢ to close the week at $2.52. The company did not release any news, but is expected to announce a new resource for its Livengood gold deposit in Alaska soon.

Eurasian Minerals also had a good week, closing up 21¢ at $1.19. The company, which is exploring for precious and base metals in Haiti, Eastern Europe, Turkey, and Kyrgyzstan, picked up another large chunk of land in Haiti. It now holds close to 3,000 sq. km of land in northern Haiti, along strike from Peublo Viejo, the massive gold-silver-copper project in the neighbouring Dominican Republic being developed by Barrick Gold and Goldcorp.

Top trader status for the week went to Gold Hawk Resources, where the saga that ensued after monitors detected ground movement at its Coricancha mine in Peru continues. The cause — excessive irrigation — has been dealt with and the company recently received permission to leave the mill in place and move the tailings facility to another location. On that news, debt payments were extended to the end of January, but that time is approaching and the company has not yet pinned down a new financing arrangement. Gold Hawk is currently trading near 2¢.

When Goldsource Mines first hit metallurgical coal in Saskatchewan last summer, investors couldn’t get enough of the junior, pushing its share price up 6,000% to $19. Now the company is back drilling the coal discovery and investors are wary. Goldsource lost 36¢ over the week to close at $2.18.

Another play of which investors have become wary is Macarthur Minerals, which lost 31¢ during the session to close at $1.80. In early 2008, Macarthur signed a deal to sell its 70% interest in the Lake Giles iron ore project in Australia to Minmetals Mining for $100 million and promised to dividend out “the bulk” of the payment. First the deal deadlines were extended and now the British Columbia Securities Commission has hammered Macarthur for disclosure inadequacies. If Minmetals does not hand over $5 million to Macarthur by the end of the month, the deal is likely dead.

News that San Gold closed a second tranche to its $8.8-million financing, adding another $1.1 million to its coffers, lifted its share price 17¢ to $1.42.

TSX-V most active issues
	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Gold Hawk Res CGK	12315	0.04	0.01	0.01	-0.01
Century Mining CMM	10915	0.07	0.03	0.05	-0.04
San Gold Res SGR	8284	1.58	1.25	1.42	+ 0.17
Vantex OG&Mnls VTX	7421	0.08	0.03	0.06	+ 0.04
Noront Res NOT	6864	1.36	1.11	1.11	-0.01
US Silver USA	6320	0.12	0.07	0.12	+ 0.04
KWG Res KWG	5890	0.04	0.03	0.04	0.00
Canasia Indust CAJ	5043	0.12	0.09	0.12	+ 0.02
Cloudbreak Res CDB	4971	0.06	0.05	0.05	-0.01
MacDonald Mns BMK	4487	0.09	0.07	0.07	0.00

TSX-V greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Solomon Res	SRB	154	0.07	0.04	0.05	+400.0
Madison Minls	MMR	249	0.17	0.09	0.16	+220.0
Vantex OG&Mnls	VTX	7421	0.08	0.03	0.06	+200.0
Channel Res	CHU	91	0.06	0.03	0.06	+200.0
Amex Expl	AMX	324	0.24	0.08	0.19	+171.4
Reunion Gold	RGD	128	0.13	0.05	0.13	+160.0
Gowest Amalg	GWA	12	0.05	0.04	0.05	+150.0
Artha Res	AHC	94	0.10	0.05	0.10	+150.0
Mill Bay Vent	MBV	11	0.05	0.05	0.05	+150.0
EurOmax Res	EOX	20	0.17	0.17	0.17	+142.8
Stikine Gold	SKY	21	0.03	0.01	0.01	-80.0
Intl Chalice R	IRI	30	0.01	0.01	0.01	-75.0
Cascadero Copp	CCD	35	0.04	0.02	0.02	-71.4
Savant Expl	SVT	15	0.05	0.01	0.05	-66.6
Oro Silver Res	OSR	292	0.06	0.03	0.04	-55.5
Tinka Res	TK	94	0.11	0.05	0.05	-54.5
Chilean Gold	CHN	26	0.08	0.04	0.08	-52.9
Western Troy C	WRY	51	0.12	0.09	0.09	-52.6
ESO Uranium	ESO	58	0.05	0.03	0.03	-50.0
Gold Hawk Res	CGK	12315	0.04	0.01	0.01	-50.0

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TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Intl Tower Hil	ITH	354122	2.52	+ 0.67
Chesapeake Gld	CKG	194838	2.76	+ 0.25
Eurasian Minls	EMX	100080	1.19	+ 0.21
Midway Gold	MDW	0.71	+ 0.21
Louvem Mines	LOV	25000	0.53	+ 0.21
Pac Booker Min	BKM	32710	6.60	+ 0.20
San Gold Res	SGR	8284033	1.42	+ 0.17
IMPACT Silver	IPT	320265	0.63	+ 0.16
Troon Vent	TVN	13000	0.66	+ 0.16
New Pac Metals	NUX	155031	0.65	+ 0.15
Goldsource Min	GXS	167970	2.18	-0.36
Macarthur Mnl	MMS	37149	1.80	-0.31
Hathor Expl	HAT	1977700	3.20	-0.24
Lions Gate Mtl	LGM	22500	0.60	-0.20
SouthGobi Engy	SGQ	17048	7.00	-0.20
Animas Res	ANI	396948	0.47	-0.18
Karmin Expl	KAR	42375	0.19	-0.18
Fission Energy	FIS	1420907	0.35	-0.17
Dundarave Res	DDX	18126	0.22	-0.17
Energold Drill	EGD	504310	1.00	-0.15