TSX VENTURE EXCHANGE JUNE 10-16

The S&P-TSX Venture Composite Index fell slowly but surely over the June 10-16 trading session, accumulating a 31.24-point loss to close at 2,636.07. Average daily treading volumes were also down slightly, at 91.6 million.

Bears dominated the junior market, with 175 companies sinking to new share price lows. Only 27 juniors managed new highs.

Largo Resources was the week’s top trader, moving 41.6 million shares to close up a penny at $1.09. The company is advancing a drill program at its Maracas vanadium project in Brazil and in April announced a large tungsten-molybdenum resource at its Northern Dancer project in the Yukon. Largo’s massive trading volumes came in the days before the company closed an $11.5-million financing.

Another major mover was Solitaire Minerals, which traded 41 million shares to gain 12, closing at 31. The Vancouver-based junior holds interests in some dozen base and precious metal properties in Canada. The company usually trades less than 200,000 shares a day and issued a release stating it didn’t know why its trading volume and share price were up.

The Saskatchewan coal craze is not over. One of the juniors awaiting coal permits in that province, Cloudbreak Resources, traded almost 30 million shares over the session to gain 4 without releasing any news of importance. And Saskatchewan is not only crazy for coal — the province is also in the midst of a potash rush. News that Geo Minerals and Alix Resources purchased 56.7 sq. km of potash rights in Saskatchewan boosted Geo 22.5 or 85% and upped Alix 18 or 56%. Geo’s trading volume on the news tripled its previous volume high.

Gold Hawk Resources almost hit a new low this session, sinking to just 7.5. In May, the company had to stop mining at its Coricancha mine in Peru because of unexplained ground movement in and around the tailings area. The mine is still shut down; this week the company announced it will not use the Southern Extension area for tailings but will seek another solution. This time last year Gold Hawk was trading at 70.

Almost two months after announcing coal intercepts in Saskatchewan, Goldsource Mines’ shares are still climbing, this week gaining $1.80 to $11. In late April, the stock was trading at 20.

News that Bear Creek Mining had to negotiate a payment extension in its buyout of Rio Tinto’s remaining 30% ownership in the Corani project prompted an 84 loss for the junior, which closed the session at $5.48. Bear Creek now has until September 2009 to make the last $15-million payment for the silver and base metal deposit, located in Peru, instead of December 2008; in exchange for the extension, Bear Creek issued 120,000 shares to Rio Tinto.

Advanced Exploration gained a healthy 43 to close the session at $1.79 following news of a signed development agreement for the Roche Bay iron ore deposit. The involved parties agreed on an infrastructure plan that now awaits regulatory approval.

TSX-V most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Largo Res	LGO	41606	1.28	1.07	1.09	-0.01
Solitaire Mnls	SLT	41060	0.31	0.15	0.31	+ 0.12
Cloudbreak Res	CDB	29214	0.14	0.08	0.11	+ 0.04
Vast Expl	VST	24361	1.16	0.70	1.03	+ 0.28
Geo Minerals	GM	20287	0.88	0.22	0.39	+ 0.15
Gold Hawk Res	CGK	17115	0.18	0.06	0.09	-0.08
KWG Res	KWG	16149	0.06	0.05	0.05	+ 0.01
Westcan Uran	WCU	16069	0.17	0.10	0.14	+ 0.05
West Hawk Dev	WHD	13429	0.62	0.41	0.50	+ 0.06
North Am Gem	NAG	12861	0.31	0.26	0.29	0.00

TSX-V greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
RJK Explor	RJXA	7595	0.51	0.06	0.24	+242.8
Golden Reign R	GRR	282	0.12	0.08	0.11	+ 83.3
Westar Res	WER	246	0.25	0.14	0.20	+ 81.8
Alix Res	AIX	8187	0.84	0.24	0.41	+ 78.2
Sidon Intl Res	SD	164	0.07	0.05	0.07	+ 75.0
Solitaire Mnls	SLT	41060	0.31	0.15	0.31	+ 63.1
Geo Minerals	GM	20287	0.88	0.22	0.39	+ 62.5
Cloudbreak Res	CDB	29214	0.14	0.08	0.11	+ 57.1
Lateegra Gold	LRG	6355	0.44	0.23	0.36	+ 56.5
Troymet Expl	TYE	248	0.18	0.12	0.14	+ 55.5
Stelmine Can	STH	4625	1.16	0.44	0.44	-65.3
Gold Hawk Res	CGK	17115	0.18	0.06	0.09	-47.0
Cadillac Mng	CQX	97	0.09	0.08	0.09	-43.7
Quest Uranium	QUC	56	0.16	0.13	0.15	-40.0
Goldmember Mnl	GMV	42	0.14	0.09	0.09	-35.7
Silver Grail R	SVG	23	0.30	0.22	0.25	-34.2
Intl Wayside G	WGM	415	0.06	0.04	0.06	-33.3
Adroit Res	ADT	662	0.24	0.12	0.18	-33.3
First Gold Exp	EFG	81	0.35	0.28	0.28	-31.7
Pencari Mng	PMC	762	0.19	0.13	0.13	-31.5

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Pac Booker Min	BKM	42860	8.55	+ 2.10
Goldsource Min	GXS	5253 57	11.00	+ 1.80
Advanced Expl	AXI	426454	1.79	+ 0.43
SouthGobi Engy	SGQ	108679	16.95	+ 0.40
Western Potash	WPX	4283817	2.15	+ 0.33
Vast Expl	VST	24361437	1.03	+ 0.28
Dejour Enterp	DEJ	863595	2.14	+ 0.26
Riverside Res	RRI	1107015	1.23	+ 0.26
Diamonds North	DDN	1345022	1.23	+ 0.25
Grizzly Diamnd	GZD	842224	1.16	+ 0.23
Seabridge Gold	SEA	21462	21.31	-1.87
Bear Creek Mng	BCM	448659	5.48	-0.84
Stelmine Can	STH	4625072	0.44	-0.83
Azimut Expl	AZM	117131	2.75	-0.48
Pan Oce Exp	POE	1632757	10.80	-0.48
X-Terra Res	XT	1523780	1.75	-0.42
Maudore Minls	MAO	155342	1.95	-0.40
Kodiak Expl	KXL	873848	2.47	-0.33
Aldridge Minls	AGM	22500	2.89	-0.31
Canplats Res	CPQ	732037	4.43	-0.29