The TSX Venture Exchange slipped nearly 2% over the June 21-25 trading period, down 29.46 points, to close at 1,458.72.
KWG Resources and Spider Resources were the most actively traded stocks over the period with 9.3 million shares and 8.1 million shares traded, respectively. KWG shares were up 1¢ to 12¢ apiece while Spider shares remained flat at 16¢.
KWG has found itself in a bidding war with Cliffs Natural Resources. Cliffs originally made separate offers of 13¢ a share for KWG and Spider in a bid to gain control of the Big Daddy chromite deposit in the McFaulds Lake area of northwestern Ontario. KWG and Spider, which together hold 53% of the project, then announced a merger to keep control of the project. But subsequently Cliffs increased its offer for Spider to 16.5¢ a share. KWG matched that and at presstime, Cliffs had upped its offer for Spider to 19¢, leaving KWG with five days to match it.
Clifton Star Resources was the biggest loser by value over the period, dropping 51¢ to $4 apiece after failing to impress investors with drill results at its Duparquet gold project in the Abitibi region of Quebec. The company and its joint-venture partner Osisko Mining released results from 22 drill holes from the Beattie, Donchester and Duquesne properties. Highlights include 27.5 metres grading 4.19 grams gold per tonne and 58 metres of 1.12 grams gold. Osisko is the operator after agreeing last November to spend more than $109 million on exploration over four years.
Titanium Corp., a company that aims to process waste material in Canada’s oilsands into valuable products, was the top gainer by value, rising 30¢ to $1.56 per share on no news. Titanium was followed by Bralorne Gold with no news and Golden Hope Mines, up 17¢ to 70¢, with news of drill results intersecting quartz-bearing structures with some visible gold at its Beland anomaly near the Bellechasse-Timmins deposit in southeastern Quebec.
Copper-cobalt explorer El Nino Ventures shares rose 1¢ to 5¢ apiece after having some positive news in the Democratic Republic of the Congo (DRC). The Tribunal of Commerce of Lubumbashi dismissed litigation, ruling that the claims should be tried in British Columbia, not the DRC. The company has filed an $850,000-counter action against Georges Kavvadias and GCP Group for breach of agreement for a joint-venture agreement.
And finally, Fortress Minerals shares fell 1¢ to 14¢ following news that Russian gold and silver producer JSC Polymetal trumped an earlier offer by MacRitchie Metals for a 100% stake in Fortress’s Svetloye gold project in Russia’s Far East. JSC will pay US$9.25 million in cash. Fortress, accepted the superior bid and will pay MacRitchie a break fee of US$250,000.[
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TSX-V most active issues | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Bonaventure En | BVT | 12256 | 0.01 | 0.01 | 0.01 | 0.00 |
Northern Star | NSM | 11936 | 0.10 | 0.06 | 0.09 | + 0.01 |
Golden Hope | GNH | 11667 | 0.73 | 0.55 | 0.70 | + 0.17 |
KWG Res | KWG | 9331 | 0.13 | 0.12 | 0.12 | + 0.01 |
Gold Bulln Dev | GBB | 8948 | 0.71 | 0.53 | 0.70 | + 0.13 |
Excel Gold Mng | EGM | 8529 | 0.15 | 0.09 | 0.12 | + 0.03 |
Spider Res | SPQ | 8152 | 0.17 | 0.16 | 0.16 | 0.00 |
Medoro Res | MRS | 7213 | 0.83 | 0.70 | 0.71 | -0.07 |
Fire River Gol | FAU | 6804 | 0.69 | 0.54 | 0.66 | + 0.06 |
Sparton Res | SRI | 5144 | 0.14 | 0.09 | 0.12 | + 0.01 |
TSX-V greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Spruce Ridge R | SHL | 68 | 0.17 | 0.17 | 0.17 | + 70.0 |
GoldQuest Mng | GQC | 456 | 0.14 | 0.09 | 0.14 | + 55.5 |
Searchgold Res | RSG | 657 | 0.03 | 0.01 | 0.03 | + 50.0 |
Silver Lake Rs | SKZ | 27 | 0.15 | 0.14 | 0.15 | + 50.0 |
Santa Fe Metls | SFM | 29 | 0.12 | 0.09 | 0.09 | + 50.0 |
Foran Mng | FOM | 1155 | 0.12 | 0.09 | 0.11 | + 37.5 |
Falkirk Res | FLK | 58 | 0.12 | 0.12 | 0.12 | + 33.3 |
Radisson Mng | RDS | 134 | 0.13 | 0.10 | 0.12 | + 33.3 |
Los Andes Copp | LA | 1559 | 0.12 | 0.09 | 0.12 | + 33.3 |
Aurion Res | AU | 31 | 0.28 | 0.22 | 0.28 | + 33.3 |
Crescent Res | CRC | 4937 | 0.05 | 0.02 | 0.02 | -60.0 |
Savant Expl | SVT | 37 | 0.10 | 0.08 | 0.08 | -46.6 |
Golconda Res | GA | 37 | 0.05 | 0.05 | 0.05 | -37.5 |
Touchdown Cap | TDW | 110 | 0.06 | 0.06 | 0.06 | -33.3 |
Metals Ck Res | MEK | 2098 | 0.22 | 0.17 | 0.17 | -29.1 |
Paragon Minls | PGR | 226 | 0.12 | 0.08 | 0.08 | -27.2 |
MacDonald Mns | BMK | 3014 | 0.20 | 0.14 | 0.14 | -26.3 |
GoldenDoryRs | GDR | 325 | 0.12 | 0.09 | 0.09 | -25.0 |
Portal Res | PDO | 16 | 0.10 | 0.09 | 0.09 | -25.0 |
Aldershot Res | ALZ | 607 | 0.04 | 0.03 | 0.03 | -25.0 |
TSX-V greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
Titanium Corp | TIC | 867154 | 1.56 | + 0.30 |
Bralorne Gold | BPM | 238530 | 1.20 | + 0.21 |
Golden Hope | GNH | 11666553 | 0.70 | + 0.17 |
Great Quest Me | GQ | 1080582 | 0.88 | + 0.15 |
Atac Res | ATC | 1304821 | 1.89 | + 0.13 |
GBB | 8948325 | 0.70 | + 0.13 | |
East Asia Mnls | EAS | 526233 | 6.69 | + 0.12 |
Alderon Res | ADV | 466355 | 1.24 | + 0.11 |
Edgewater Expl | EDW | 10000 | 0.90 | + 0.10 |
Midland Expl | MD | 21053 | 1.40 | + 0.08 |
Clifton Star | CFO | 426090 | 4.00 | -0.51 |
Maudore Minls | MAO | 100102 | 3.90 | -0.30 |
Chesapeake Gld | CKG | 49731 | 7.72 | -0.26 |
Quest Rare Mnl | QRM | 348073 | 2.15 | -0.25 |
RareElemntRs | RES | 316770 | 2.22 | -0.24 |
Mirasol Res | MRZ | 276008 | 1.57 | -0.21 |
Rainy River Rs | RR | 1443200 | 6.63 | -0.20 |
Quaterra Res | QTA | 97928 | 1.31 | -0.19 |
Universal Powr | UNX | 333693 | 1.70 | -0.13 |
Mosquito Cons | MSQ | 462981 | 1.09 | -0.12 |
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