TSX VENTURE EXCHANGE -June 14-18

The S&P/TSX Venture composite index almost managed to gain every day over the June 14-18 period, ending the week up 27.8 points at 1,488.18. Daily trading volumes returned to stronger levels, averaging 98.5 million.

Despite the overall gain, far more junior companies fell to new 52-week share price lows than those reaching new highs: only 23 Venture-listed companies attained new share price peaks while 177 fell to new lows.

The week’s two top traders started the week by signing a definitive merger agreement, which was soon trumped. KWG Resources and Spider Resources, which already share a 53% stake in the Big Daddy chromite deposit in northwest Ontario, inked a deal to exchange each Spider share for 1.21 KWG shares. But the third stakeholder in Big Daddy, Cliffs Natural Resources, then upped its bid for Spider to 16.5¢ per share, a superior offer to the KWG merger. KWG now has until June 24 to decide whether to match Cliff’s offer.

Terrane Metals had a high-volume week on news the company has hired contractors and started building its Mt. Milligan copper-gold project in north-central B.C. The $912-million mine could take 30 months to build. The company moved 15.2 million shares over the week to close up 9¢ at $1.04.

Golden Hope Mines and Atac Resources should both announce drill results soon and investors must be expecting good things, as both companies saw considerable share price gains. Golden Hope added 12¢ to reach 53¢; the company just completed a 5,000-metre drill program at its Bellechasse-Timmins property in Ontario, in which many holes intersected quartz veining in breccia zones up to 50 metres wide. Atac has five drills at its Rau project in the Keno Hill area of the Yukon, where the company plans to complete more than 100 holes. Atac gained 31¢ to close at $1.76, a new share price high.

A reality check from new CEO George Pirie sent Northern Star Mining’s share price down 10¢ to 8¢, a far cry from the 50¢ average it maintained a year ago. Pirie, who took over in April, said the previous goal of achieving production from two of the deposits at the company’s Malartic-Midway project in Quebec this year is not credible or realizable. He also called the company’s $43-million debt balance, due in 14 months, an “unsustainable obligation” and said Northern Star would restructure and reduce its near-term debt.

In happier news from Quebec, Maudore Minerals announced the best intercept to date from its Comtois gold project. A drill probing between the Bell and Osbourne deposits hit 239 grams gold per tonne over 1.5 metres. Maudore rose 60¢ to $4.20.

Recovery of a 53.5-carat diamond in the first week of production at the Mothae mine in Lesotho sent Lucara Diamond shares up 19¢ in a day to reach 98¢ apiece. The white Type IIA diamond is more than twice the size of any stone previously recovered at Mothae.

TSX-V most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
KWG Res KWG 33658 0.13 0.10 0.12 0.00
Spider Res SPQ 27724 0.17 0.16 0.17 + 0.02
Terrane Metals TRX 15172 1.15 0.94 1.04 + 0.09
Northern Star NSM 14621 0.18 0.08 0.08 -0.10
Medoro Res MRS 13644 0.78 0.71 0.78 + 0.05
Lucara Diam LUC 10286 0.98 0.77 0.82 + 0.02
Golden Hope GNH 9711 0.56 0.36 0.53 + 0.13
RomarcoMnrls R 8879 2.07 1.79 1.96 + 0.06
Logan Copper LC 8798 0.02 0.01 0.01 -0.01
Fire River Gol FAU 8326 0.65 0.40 0.60 + 0.19
TSX-V greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Max Res MXR 74 0.22 0.16 0.19 + 111.1
Totem Mnls TTM 138 0.55 0.31 0.55 + 77.4
Passport Metal PPI 2536 0.08 0.05 0.07 + 75.0
Golconda Res GA 64 0.08 0.07 0.08 + 60.0
Wolverine Mnls WLV 101 0.22 0.15 0.22 + 57.1
Sanatana Diam STA 260 0.11 0.09 0.11 + 57.1
Knick Expl KNX 95 0.28 0.18 0.25 + 56.2
Mazarin MAZH 127 0.05 0.03 0.03 + 50.0
Star Uranium SUV 1456 0.04 0.03 0.03 + 50.0
Fire River Gol FAU 8326 0.65 0.40 0.60 + 46.3
Northern Star NSM 14621 0.18 0.08 0.08 -55.5
Logan Copper LC 8798 0.02 0.01 0.01 -50.0
Menika Mining MML 100 0.02 0.02 0.02 -33.3
Appleton Expl AEX 3150 0.17 0.11 0.11 -31.2
Astorius Res ASQ 35 0.09 0.09 0.09 -30.7
Teslin Rvr Res TLR 255 0.06 0.05 0.05 -28.5
Micrex Devel MIX 43 0.20 0.13 0.13 -27.7
First Pursuit FPV 63 0.18 0.16 0.16 -27.2
Energizer Res EGZ 303 0.30 0.24 0.24 -27.2
Silver Fields SF 76 0.16 0.11 0.11 -26.6
TSX-V greatest value change
WEEK
VOLUME CLOSE CHANGE
Bear Creek Mng BCM 743407 4.72 + 0.63
Maudore Minls MAO 109707 4.20 + 0.60
Rainy River Rs RR 6111924 6.83 + 0.58
Antares Minls ANM 424963 2.50 + 0.38
East Asia Mnls EAS 3143591 6.57 + 0.33
Hana Mng HMG 1356640 1.74 + 0.32
Atac Res ATC 1566982 1.76 + 0.31
Energold Drill EGD 611542 2.25 + 0.26
Brett Res BBR 389196 4.03 + 0.26
Clifton Star CFO 2386101 4.51 + 0.24
Alderon Res ADV 579577 1.13 -0.31
Lithium One LI 892286 1.05 -0.26
Merit Mng MEM 38414 0.80 -0.25
Universal Powr UNX 669599 1.83 -0.16
Loncor Res LN 43800 0.87 -0.13
Lions Gate Mtl LGM 11325 0.90 -0.12
St Elias Mns SLI 392583 1.39 -0.11
Northern Star NSM 14620707 0.08 -0.10
Orko Silver OK 792998 1.53 -0.10
Minaurum Gold MGG 62000 0.62 -0.10
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