TSX Venture Exchange – June 9-15

The S&P/TSX Venture composite index’s slow, steady climb from its December low of just 684 points continued over the week of June 9-15 as the board gained 1.13 points to close at 1,132.95. Daily trading volumes remained strong, averaging 95.5 million.

For the third week running, more Venturelisted companies reached new 52-week share price highs than dropped to new lows: 27 juniors peaked while 16 fell.

Coming out of nowhere, Appleton Exploration grabbed top trader status and managed the second-highest absolute gain over the week, moving 24 million shares to close up 45¢ or 280% at 63¢. Drills at the company’s Manalo gold project in Mali hit 192 grams gold per tonne over 10 metres in a new zone. The new zone is just 50 metres east of the main zone, which two weeks earlier returned 15.6 grams gold over 16 metres.

A deep silver-gold intercept helped Underworld Resources’ share price continue its steep climb. Following earlier news that hole 31 hit 98 metres grading 3.59 grams gold from 106 metres down-hole, Underworld announced that at 402 metres depth, the drill cut 10.5 metres of 4.8 grams gold and 38.2 grams silver per tonne. The company’s share price gained 39¢ to reach $2.07.

Expectations are high for Exeter Resource: the company announced an 876-metre intercept grading 0.75 gram gold and 0.29% copper from its Caspiche project in Chile but still watched its share price lose 44¢ to close at $3.15. Investors were likely displeased that another hole in the release, designed to test the southeastern limits of mineralization, instead hit a younger porphyry unit grading just 0.11 gram gold and 0.03% copper.

Investors also expected a lot from Oro Gold Resources. A new set of results from the Taunus target on the Trinidad project near Mazatlan, Mexico, included 30 metres carrying 6.3 grams gold and 13.4 metres of 5.3 grams gold but the company’s share price still lost 20¢ to close at 74¢.

Red Hill Energy should soon be $30 million richer, having inked a deal to sell its Ulaan Ovoo coal project in northern Mongolia to Falcon Mining of Switzerland. The project comes with an environmental assessment already approved by the Mongolian government and a long-term mining licence. Red Hill’s shares, halted several days before the announcement, were still halted at presstime.

News that drills are again turning on the Livengood gold project in Alaska was enough to propel International Tower Hill Mines’ share price up 38¢ to $3.76 over the week. The company plans to drill 35,000 metres over three months, focusing on the higher-grade core of the system and its possible depth extensions. In addition, updated resource estimate for Livengood is due out within the month and the company plans to use the new estimate to complete a preliminary economic assessment, due out in July.

And Rare Element Resources’ share price shot up so unexpectedly — adding 40¢ to reach $1.70 on no news — that the company issued a release clarifying that no material news was forthcoming.

TSX-V most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Appleton Expl	AEX	24286	0.67	0.16	0.63	+ 0.45
Alix Res	AIX	18320	0.12	0.06	0.10	+ 0.03
Red Pine Expl	RPX	15849	0.10	0.03	0.06	+ 0.03
Emgold Mng	EMR	15237	0.06	0.04	0.05	+ 0.01
Dumont Nickel	DNI	14616	0.05	0.03	0.04	+ 0.01
Strike Minls	STK	13957	0.06	0.03	0.04	0.00
Star Uranium	SUV	12926	0.08	0.03	0.04	-0.04
Acero-MartinE	ASD	12027	0.08	0.04	0.07	+ 0.03
Western Potash	WPX	11217	0.84	0.59	0.64	+ 0.01
Forest Gate	FGT	10245	0.03	0.02	0.02	0.00

TSX-V greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Savant Expl	SVT	42	0.06	0.04	0.05	+400.0
Appleton Expl	AEX	24286	0.67	0.16	0.63	+250.0
Arcus Dev Grp	ADG	703	0.26	0.08	0.19	+216.6
Gold Summit	GSM	70	0.25	0.14	0.25	+127.2
Mesa Uran	MSA	122	0.19	0.12	0.16	+100.0
Red Pine Expl	RPX	15849	0.10	0.03	0.06	+100.0
Manson Creek	MCK	2044	0.13	0.03	0.06	+100.0
Alder Res	ALR	225	0.35	0.24	0.33	+ 94.1
Pebble Ck Mng	PEB	49	0.12	0.06	0.09	+ 80.0
Pac Casc Minls	PCV	37	0.09	0.07	0.09	+ 80.0
Star Uranium	SUV	12926	0.08	0.03	0.04	-50.0
Archangel Dia	AAD	97	0.12	0.07	0.07	-41.6
Roxgold	ROG	119	0.05	0.03	0.03	-40.0
Vanstar Mng Rs	VSR	39	0.13	0.13	0.13	-35.0
Newcastle Mnls	NCM	469	0.02	0.02	0.02	-33.3
IGC Res	IGC	41	0.10	0.09	0.10	-33.3
Sea Green Cap	SGS	20	0.03	0.02	0.02	-33.3
Nevgold Res	NDG	18	0.20	0.13	0.13	-31.5
Rambler Mg&Mtl	RAB	201	0.37	0.32	0.34	-30.6
Premium Expl	PEM	2489	0.27	0.17	0.19	-29.6

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TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
SouthGobi Engy	SGQ	707817	10.50
Appleton Expl	AEX	24285852	0.63	+ 0.45
Rare Elemnt Rs	RES	2781076	1.70	+ 0.40
Underworld Res	UW	3596733	2.07	+ 0.39
Intl Tower Hil	ITH	398756	3.76	+ 0.38
GoldenArrowR	GRG	1510510	0.58	+ 0.23
Helio Res	HRC	720100	0.75	+ 0.23
Western Uran	WUC	270000	1.00	+ 0.18
Contintl Nickl	CNI	14600	0.57	+ 0.17
Nevada Geo Pow	NGP	1602283	0.89	+ 0.17
Exeter Res	XRC	357123	3.15	-0.44
Rainy River Rs	RR	857463	1.94	-0.29
Chesapeake Gld	CKG	87414	4.18	-0.27
Bear Creek Mng	BCM	645256	2.00	-0.27
Oro Gold Res	OGR	2662433	0.74	-0.20
Tirex Res	TXX	809547	1.25	-0.20
Clifton Star	CFO	54314	2.77	-0.18
Midway Gold	MDW	58200	0.73	-0.18
Sacre-Coeur Ml	SCM	164724	0.53	-0.17
Intl Wayside G	WYG	122952	0.55	-0.15