TSX Venture Exchange -July 21-27

The S&P/TSX Venture composite index started the July 21-27 reporting period with a small loss and then managed four days of gains to close up 28.95 points at 1,147.04. Daily trading volumes remained strong, averaging 83.8 million.

The bulls and the bears had a tight race over the period but the bears came out on top: 32 Venture-listed companies achieved new 52-week share price highs, but 35 fell to new lows.

Romarco Minerals was the week’s volume leader, moving 44.8 million shares to gain 9¢ and close at 89¢. The company announced a $30-million financing; three hours later, it increased the bought deal to $40 million. The proceeds will fund development, continued exploration, and land purchases at Romarco’s Haile gold mine in South Carolina, which has been returning strong underground intercepts of late.

A week after Evolving Gold announced a bonanza intercept at its Rattlesnake Hills project in Wyoming — 67 metres grading 10.8 grams gold per tonne — the company remained a top trader, moving 6.7 million shares to climb 11¢ to $1.28. Evolving added a fourth drill rig to the project and plans to drill 25,000 metres this year.

Junior uranium explorer Hathor Exploration beat uranium producer Denison Mines in the battle to acquire Northern Continental Resources. In early May, Denison offered 0.092 of a share for every Northern Continental share, a deal the junior accepted. But in mid-July, Hathor offered 0.1389 of a share for each share of the junior — representing a 36% premium over the Denison bid. Northern Continental owns 60% of the exploration-stage Russell Lake project, which is on strike between Cameco’s high-grade, historic Key Lake mine and its producing McArthur River mine. Hathor already owns the other 40% of Russell Lake.

The Kinbauri Gold saga continued this week, with original suitor Orvana Minerals (listed on the main board) raising its takeover bid to 75¢ per share from 55¢ and late-coming suitor ATW Gold announcing a $50-million credit facility, $40 million of which is earmarked for acquiring Kinbauri. ATW and Kinbauri signed an all-share merger agreement in mid-July, after Kinbauri withdrew from a joint-venture deal with Glen Eagle Resources. Kinbauri’s board opposed the original Orvana offer and has not yet commented on the new deal, but now Jaguar Financial, Kinbauri’s largest shareholder, has found friends and locked up 23.6% of Kinbauri’s shares in support of the all-cash Orvana bid.

And exploration in the Yukon’s Tintina gold belt continued to heat up this week as Northern Freegold Resources announced an initial 1-million-oz. gold resource at its Freegold Mountain project. The inferred resource, which grades 0.5 gram gold per tonne, is from the Nucleus zone where two drills are working to expand the east-west-striking high-grade component of the north-south-trending disseminated gold zone. Freegold Mountain is near Capstone Mining’s Minto copper mine.

TSX-V most active issues
	VOLUME		WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
RomarcoMnrls R	44817	0.94	0.78	0.89	+ 0.09
KWG Res KWG	22485	0.05	0.03	0.05	+ 0.01
Noront Res NOT	18121	1.68	1.27	1.60	+ 0.10
Great Western GWG	10101	0.20	0.14	0.16	+ 0.04
MacDonald Mns BMK	9705	0.17	0.12	0.14	-0.04
West Hawk Dev WHD	7471	0.02	0.01	0.02	0.00
Evolving Gold EVG	6660	1.39	1.01	1.28	+ 0.11
Spider Res SPQ	6258	0.05	0.03	0.04	0.00
Emgold Mng EMR	6244	0.20	0.05	0.08	-0.05
Medoro Res MRS	6188	0.75	0.42	0.67	+ 0.19

TSX-V greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Savant Expl	SVT	50	0.08	0.04	0.07	+250.0
ICS Copper Sys	ICX	49	0.08	0.05	0.08	+166.6
Pebble Ck Mng	PEB	137	0.16	0.08	0.10	+150.0
Crescent Res	CRC	3169	0.24	0.14	0.23	+130.0
Noble Metal Gr	NMG	79	0.06	0.04	0.06	+100.0
Kernow Res	KRD	903	0.05	0.03	0.04	+100.0
Puma Expl	PUM	4143	0.18	0.08	0.17	+ 88.8
Antioquia Gold	AGD	1124	0.18	0.12	0.18	+ 80.0
Gold Port Res	GPO	326	0.07	0.05	0.05	+ 66.6
HoneyBadgerE	TUF	657	0.06	0.03	0.05	+ 66.6
Thunder Sword	THU	79	0.08	0.04	0.04	-66.6
Cons Fortress	CFR	37	0.13	0.05	0.05	-64.2
Dot Res	DOT	47	0.10	0.05	0.05	-61.5
Hansa Res	HRL	76	0.10	0.07	0.07	-50.0
Getty Copper	GTC	197	0.06	0.03	0.04	-42.8
Crown Mnls	CWM	540	0.04	0.04	0.04	-42.8
IGC Res	IGC	483	0.04	0.03	0.03	-40.0
African Metals	AFR	18	0.08	0.07	0.08	-38.4
Emgold Mng	EMR	6244	0.20	0.05	0.08	-38.4
Viking Gold	VGC	37	0.06	0.05	0.05	-37.5

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
SouthGobi Engy	SGQ	203785	13.00	+ 0.82
Pac Booker Min	BKM	16587	6.54	+ 0.46
Anfield Vent	ANF	229000	2.25	+ 0.45
Chesapeake Gld	CKG	54195	4.32	+ 0.31
Animas Res	ANI	607923	0.83	+ 0.30
Titanium Corp	TIC	249052	1.00	+ 0.28
Maudore Minls	MAO	247250	2.45	+ 0.25
RareElemntRs	RES	1293920	2.72	+ 0.25
Roca Mines	ROK	5875563	0.65	+ 0.24
Quest Uranium	QUC	2738598	0.89	+ 0.19
Aldridge Minls	AGM	34200	1.34	-0.55
Exeter Res	XRC	486400	3.02	-0.23
Fancamp Expl	FNC	2398385	0.63	-0.22
Rainy River Rs	RR	170148	1.98	-0.18
Bear Creek Mng	BCM	182910	1.65	-0.18
Coniagas Res	CNY	186100	1.41	-0.15
Macarthur Mnl	MMS	17000	0.70	-0.15
Coral Gold	CLH	106350	0.52	-0.13
Universal Powr	UNX	2104162	0.67	-0.12
Hathor Expl	HAT	1183273	1.83	-0.11