TSX Venture Exchange – March 3-9

It was continued dreariness on the S&P/TSX Venture composite index for the March 3-9 reporting period. Since mid-February — and the end of a small rally on the Venture Exchange — there have only been three days with gains. In the latest five-day trading period, only one day was positive: March 4, with the board up 6.88 points.

Losses, at least, were as subdued as trading volume. The week began at 828.24 points and ended at 814.19 points, with average daily trading volume at 47.5 million. There were four new 52-week highs and 95 lows in the same timeframe.

After shedding about US$60 per oz. and slumping to US$910 per oz. in New York the previous week, the price of gold grappled up to as high as US$940 per oz. and ended the reporting period at around US$920 per oz.

The effect was apparent. In terms of absolute value, the top gainers for the period were companies that explore for the coveted yellow metal: International Tower Hill Mines, Louvem Mines, Chesapeake Gold, Rainy River Resources and ATW Gold.

Tower Hill, with its Livengood property in Alaska, made gains after closing a $10-million private placement. It gained 27¢ to close at $2.95 (not far off a 10-year high of $3.40).

Louvem Mines, which operates the Beaufor mine near Val-d’Or, Que., is riding solid fourth-quarter results announced at the end of February and gained 22¢ to close at 99¢. It had $4 million in revenues during the quarter on sales of 4,100 oz. gold, a 184% increase over the same period in 2007, when it sold 1,810 oz. gold. Cash costs were up to US$563 per oz. gold from US$381 in the same quarter a year earlier.

News of permitting approval for ATW Gold’s Burnakura gold mine in Western Australia gave shares a 15¢ boost to 78¢. The permit allows a 160,000-tonne-per-year carbon-in-leach operation at Burnakura, where ATW has pegged measured and indicated resources in a high-grade zone at 236,900 tonnes of 8.28 grams gold per tonne. A mine there would be an underground operation although the property hosts near-surface deposits that have been exploited in the past.

Chesapeake Gold was up 22¢ to $3.26, Rainy River Resources, up 19¢ to $1.92, and Nayarit Gold, up 10¢ to 65¢.

Radius Gold saw its share price jump 6¢ to 16¢. With gold properties throughout Latin America, it has production plans through a joint venture with engineering firm Kappes, Cassiday & Associates at its Tambor property in Guatemala, where it has outlined an indicated resource of 456,000 tonnes grading 3.94 grams gold per tonne.

With its Lustdust property 250 km northwest of Prince George, B. C., Alpha Gold gained 6.5¢ to 13¢. The property holds gold, copper, molybdenum and silver prospects and the company, with $3.5 million in working capital as of Jan. 22, plans on continuing exploration work.

Notable share-price losers were Hathor Exploration and Goldsource Mines, which, respectively, lost 67¢ to close at $1.92 and 58¢ to end at $1.82.

TSX-V most active issues
	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Manicouagan MlMAM	18267	0.05	0.04	0.04	0.00
Century Mining CMM	4373	0.15	0.08	0.13	+ 0.04
Hathor Expl HAT	4312	2.62	1.88	1.92	-0.67
Geo Minerals GM	3438	0.15	0.10	0.12	+ 0.01
Bonaventure En BVT	3131	0.04	0.03	0.03	0.00
KWG Res KWG	3076	0.03	0.03	0.03	0.00
Forest Gate FGT	2951	0.01	0.01	0.01	0.00
Cloudbreak Res CDB	2861	0.06	0.05	0.06	0.00
North Am Gem NAG	2716	0.09	0.06	0.06	-0.01
Sage Gold SGX	2632	0.07	0.05	0.06	0.00

TSX-V greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Matamec Expl	MAT	42	0.07	0.05	0.05	+150.0
Alpha Gold	ALQ	16	0.13	0.07	0.13	+116.6
Lomiko Res	LMR	148	0.04	0.02	0.02	+100.0
Cream Mnrls	CMA	77	0.15	0.10	0.12	+100.0
Silver Shield	SSR	53	0.06	0.03	0.06	+100.0
Sola Res	SL	276	0.06	0.04	0.06	+100.0
Yamiri Gold &E	YGI	16	0.09	0.09	0.09	+ 80.0
Radius Gold	RDU	918	0.16	0.10	0.16	+ 77.7
Southern Arc	SA	487	0.20	0.10	0.19	+ 72.7
Micrex Devel	MIX	30	0.10	0.07	0.10	+ 66.6
Diamond Frank	DOD	82	0.06	0.01	0.01	-90.0
Great Quest Me	GQ	246	0.05	0.01	0.01	-75.0
Midasco Cap	MGC	107	0.03	0.01	0.01	-66.6
Blackstone Res	BLV	281	0.05	0.03	0.03	-57.1
Acrex Vent	AKV	17	0.04	0.01	0.03	-50.0
Global Minls	CTG	2010	0.03	0.01	0.01	-50.0
Endurance Gold	EDG	387	0.05	0.03	0.03	-50.0
Beartooth Plat	BTP	794	0.03	0.01	0.01	-50.0
First Point	FPX	130	0.05	0.02	0.04	-50.0
Dynasty Gold	DYG	18	0.02	0.01	0.01	-50.0

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Intl Tower Hil	ITH	184373	2.95	+ 0.27
Louvem Mines	LOV	73300	0.99	+ 0.22
Chesapeake Gld	CKG	46262	3.26	+ 0.22
Rainy River Rs	RR	723492	1.92	+ 0.19
ATW Gold	ATW	1663045	0.78	+ 0.15
Whitemud Res	WMK	30957	1.64	+ 0.14
Lions Gate Mtl	LGM	45819	0.82	+ 0.12
Coniagas Res	CNY	403900	0.42	+ 0.12
Sabina Silver	SBB	292380	0.66	+ 0.12
Nayarit Gold	NYG	464740	0.65	+ 0.10
Hathor Expl	HAT	4312222	1.92	-0.67
Goldsource Min	GXS	1670585	1.82	-0.58
Clifton Star	CFO	73200	2.02	-0.23
Avino Silver	ASM	74550	0.64	-0.19
Maudore Minls	MAO	38176	1.50	-0.18
Terra Vent	TAS	890630	0.35	-0.14
Huldra Silver	HDA	14500	0.17	-0.14
Uruguay Mnl Ex	UME	145500	0.30	-0.13
Kootenay Gold	KTN	49500	0.70	-0.12
Eureka Res	EUK	44595	0.20	-0.12