The S&P/TSX Venture composite index fell again during the shortened May 18 to 21 trading period, losing 132.87 points in three days before recovering with a 31.58-point gain on the last day to close at 101.29 points. Trading volumes were down compared with recent weeks, averaging 116 million.
Continued market uncertainty hit junior stocks hard over the period, with 166 Venturelisted companies falling to new share price lows while 14 achieved new highs.
Gold Bullion Development was the volume leader for the week. The company briefly hit a high of 46¢ on May 18, before closing that day at 42¢ and ending the week at 39¢ on a total volume of 8.9 million shares. The heavy activity came despite the company not releasing news. The price of gold saw a dramatic swing downwards, dropping from around US$1,220 per oz. to around US$1,180 per oz.
Rocmec Mining released an updated resource estimate for its Rocmec 1 gold property that added nearly 23,000 oz. gold to the project. The measured and indicated resources now stand at 570,000 tonnes grading 6.52 grams gold per tonne for 120,000 oz. gold using a 3 grams gold cutoff grade. The inferred resource has 1.5 million tonnes grading 7.4 grams gold for 360,000 oz. gold. The company managed not to drop, gaining a penny to close at 5¢ on 1.7 million shares traded
New Guinea Gold released impressive gold hits at its Sinivit gold mine in Papua New Guinea that extend the known mineralization of the mine’s central oxide zone. Drill results include 8 metres grading 12.82 grams gold, 6 metres grading 10.45 grams gold and 4 metres grading 19.6 grams gold. The company also announced plans to move from a vat leaching operation to heap leaching in order to lower operating costs and allow for faster ore processing. The company ended down half a cent at 10.5¢ on 1.2 million shares traded.
Merc International Minerals released several good-grade gold hits from its property in the Northwest Territories. The company is exploring a new zone called BIF Island that lies northeast of where it drilled last year. The new zone yielded 15.9 metres grading 2.43 grams gold, 4.3 metres averaging 3.24 grams gold and 22.5 metres carrying 5.81 grams gold, all from less than 100 metres depth. The company was down 1.5¢ to close at 21.5¢ on 348,000 shares traded.
Rainy River Resources released assay results from its Rainy River gold project in northwestern Ontario that included some very high-grade hits, but it was not enough to stop the company’s share price from falling 75¢ to close at $5.43 on 981,000 shares traded. Drill results included a 1.5-metre section grading 121.2 grams gold in a previously untested portion of the 433 zone. In the Beaver Pond zone, the company hit 12 metres of 3.4 grams gold and 1.5 metres of 6.17 grams gold deeper down the same hole. In the western extension of the beaver pond zone the company cut 1.5 metres at 9.32 grams gold.
| TSX-V most active issues | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Gold Bulln Dev | GBB | 8980 | 0.46 | 0.35 | 0.39 | -0.01 |
| Dia Bras Expl | DIB | 7454 | 0.19 | 0.14 | 0.17 | + 0.01 |
| Afri-Can Marin | AFA | 6860 | 0.14 | 0.10 | 0.13 | + 0.01 |
| San Gold Res | SGR | 6772 | 4.48 | 3.75 | 4.22 | -0.26 |
| RomarcoMnrls | R | 6520 | 2.04 | 1.70 | 1.82 | -0.20 |
| Diamond Frank | DOD | 6106 | 0.22 | 0.12 | 0.14 | -0.06 |
| Copper Fox Mtl | CUU | 5946 | 0.36 | 0.20 | 0.27 | -0.06 |
| Canadn Arrow | CRO | 5805 | 0.06 | 0.05 | 0.05 | 0.00 |
| KWG Res | KWG | 5778 | 0.08 | 0.06 | 0.08 | + 0.01 |
| Spider Res | SPQ | 5556 | 0.09 | 0.06 | 0.08 | 0.00 |
| TSX-V greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Brigadier Gold | BRG | 37 | 0.19 | 0.16 | 0.17 | + 750.0 |
| Midasco Cap | MGC | 129 | 0.05 | 0.03 | 0.05 | + 150.0 |
| High Desert Gd | HDG | 351 | 0.21 | 0.17 | 0.19 | + 35.7 |
| Pro Minerals | PRM | 235 | 0.09 | 0.06 | 0.08 | + 33.3 |
| Caribou Copper | CKR | 10 | 0.08 | 0.08 | 0.08 | + 33.3 |
| Waseco Res | WRI | 100 | 0.12 | 0.09 | 0.12 | + 33.3 |
| NQ Expl | NQE | 44 | 0.12 | 0.10 | 0.12 | + 33.3 |
| Pebble Ck Mng | PEB | 47 | 0.13 | 0.10 | 0.13 | + 30.0 |
| Mandalay Res | MND | 133 | 0.40 | 0.31 | 0.38 | + 26.6 |
| Mountain-WstR | MWR | 26 | 0.24 | 0.19 | 0.24 | + 26.3 |
| Gee-Ten Vent | GTV | 220 | 0.02 | 0.01 | 0.01 | -50.0 |
| Tiex | TIX | 242 | 0.16 | 0.08 | 0.09 | -43.7 |
| Teslin Rvr Res | TLR | 46 | 0.07 | 0.05 | 0.05 | -37.5 |
| Blue Sky Uran | BSK | 3586 | 0.61 | 0.37 | 0.41 | -35.9 |
| Tinka Res | TK | 1895 | 0.28 | 0.17 | 0.19 | -34.4 |
| Pac Comox | PCM | 2251 | 0.03 | 0.02 | 0.02 | -33.3 |
| Central Res | CBC | 64 | 0.13 | 0.12 | 0.12 | -33.3 |
| Argex Silver C | RGX | 484 | 0.29 | 0.20 | 0.20 | -33.3 |
| Stikine Gold | SKY | 280 | 0.25 | 0.18 | 0.18 | -30.7 |
| Typhoon Expl | TYP | 1580 | 0.97 | 0.57 | 0.67 | -30.2 |
| TSX-V greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| Brigadier Gold | BRG | 37100 | 0.17 | + 0.15 |
| Wealth Minls | WML | 338133 | 0.56 | + 0.09 |
| Canaco Res | CAN | 3998885 | 0.69 | + 0.08 |
| Mandalay Res | MND | 133254 | 0.38 | + 0.08 |
| X -Terra Res |
XT | 42000 | 0.36 | + 0.05 |
| Mountain-WstR | MWR | 26016 | 0.24 | + 0.05 |
| Tirex Res | TXX | 387600 | 0.27 | + 0.05 |
| HighDesertGd | HDG | 351000 | 0.19 | + 0.05 |
| Indico Res | IDI | 123777 | 0.55 | + 0.05 |
| Infinito Gold | IG | 249506 | 0.35 | + 0.05 |
| Chesapeake Gld | CKG | 133709 | 8.00 | -0.80 |
| Rainy River Rs | RR | 980211 | 5.43 | -0.75 |
| RareElemntRs | RES | 868926 | 2.42 | -0.67 |
| Quest Rare Mnl | QRM | 1200823 | 2.25 | -0.50 |
| Clifton Star | CFO | 229377 | 4.63 | -0.45 |
| Merit Mng | MEM | 10871 | 1.05 | -0.41 |
| Mansfld Mnrls | MDR | 615030 | 1.59 | -0.35 |
| Bear Creek Mng | BCM | 609350 | 4.41 | -0.34 |
| Typhoon Expl | TYP | 1580414 | 0.67 | -0.29 |
| Eurasian Minls | EMX | 208357 | 1.93 | -0.27 |
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