TSX VENTURE EXCHANGE MAY 25-31

For the first time in months the S&P/TSX Venture composite index managed a significant weekly gain, climbing 60.68 points to close at 1,514.07. In spite of the gain, daily trading volumes were down, averaging 106.5 million.

The board’s overall gain also sat in contrast with the outcome of the bulls versus bears contest — only 20 Venture-listed companies reached new 52-week highs over the week while 185 fell to new lows.

Kaminak Gold’s share price leapt on news of the first set of drill results from its Coffee project in the Yukon. The first hole of the program returned 15.5 metres of 17.07 grams gold per tonne from 15 metres depth and the second hole cut 12 metres of 3.95 grams gold from 19 metres downhole, followed by four other gold-bearing intersections. Drilled from the same collar, the hole probed the Supremo zone, one of eight priority targets at Coffee. Kaminak gained 43¢ in a day; over the week it rose 68¢ or 81% to reach $1.52, a new all-time high.

It was a busy week for KWG Resources and Spider Resources, which each own 26.5% of the high-grade Big Daddy chromite deposit in northwestern Ontario, as 47% partner Cliffs Natural Resources kicked off efforts to take over one or both of the juniors. Cliffs acquired its interest in Big Daddy and two adjacent chromite projects when it took over Freewest Resources in January. The major now wants to gain operatorship at Big Daddy so it can develop all three projects together. In response, KWG and Spider proposed a merger. The news lifted both companies’ share prices 5¢ to reach 13¢.

News that five of the first eight holes drilled at the Wedeene River property show strong chalcopyrite mineralization almost doubled Decade Resources’ share price, boosting it 22¢ to 50¢. The company says it intersected multiple zones of semi-massive copper mineralization from 1 to 10 metres wide in a porphyry environment at the project, which is in west-central British Columbia.

Canaco Resources added 11¢ to reach a new 52-week high of 80¢ on another set of promising drill results from its Handeni gold project in Tanzania. Step-out drills hit gold 200 metres north of the Magambazi North area, including 60 metres of 1.67 grams gold from 109 metres depth. The Magambazi zone now strikes for 700 metres along the Magambazi fault, still open to the north and down-plunge, and constitutes part of a 1.4-km-long trend of gold mineralization defined by drilling, artisanal workings and soil geochemistry.

A nice nickel intercept at the Mayaniquel project in Guatemala lifted Anfield Nickel 25¢ to close the week at $3. Anfield has five drills turning at Mayaniquel; the latest results came from a new area known as Chiis that returned thicker saprolite intercepts than expected, including 45 metres of 1.56% nickel starting just 9 metres downhole.

TSX-V most active issues
	VOLUME		WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
KWG Res KWG	44344	0.15	0.13	0.13	+ 0.05
Spider Res SPQ	36558	0.14	0.12	0.13	+ 0.05
MacDonald Mns BMK	10601	0.25	0.12	0.25	+ 0.12
MountainBoyMMTB	9827	0.24	0.15	0.22	+0.02
MetalsCkRes MEK	6527	0.19	0.10	0.19	+0.07
Canaco Res CAN	6085	0.82	0.63	0.80	+ 0.11
Century Mining CMM	6066	0.69	0.49	0.59	-0.17
San Gold Res SGR	6013	4.70	3.95	4.52	+ 0.30
Gold Bulln Dev GBB	5920	0.44	0.37	0.44	+ 0.06
Avion Res AVR	5821	0.61	0.50	0.60	+ 0.07

TSX-V greatest percentage change
		VOLUME		WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Sola Res	SL	2636	0.07	0.04	0.07	+ 133.3
Empire Mng	EPC	588	0.20	0.13	0.20	+ 100.0
MacDonald Mns	BMK	10601	0.25	0.12	0.25	+ 92.3
Decade Res	DEC	5244	0.63	0.25	0.50	+ 92.3
Olivut Res	OLV	2096	0.85	0.35	0.70	+ 84.2
Kaminak Gold	KAM	4655	1.61	0.79	1.52	+ 80.9
Solitaire Mnls	SLT	3023	0.09	0.05	0.09	+ 80.0
Arcus Dev Grp	ADG	257	0.23	0.12	0.22	+ 69.2
Alpha Gold	ALQ	161	0.15	0.09	0.15	+ 66.6
Arcturus Res	AZN	52	0.10	0.09	0.10	+ 66.6
Sea Green Cap	SGS	28	0.03	0.01	0.01	-50.0
Sandstorm Mt&E	SND	680	0.65	0.35	0.36	-50.0
Dot Res	DOT	10	0.08	0.08	0.08	-42.8
Upper Can Gold	UCC	119	0.49	0.30	0.31	-38.0
Jazz Res	JZR	10	0.31	0.25	0.25	-35.9
Abbastar Res	ABA	82	0.12	0.10	0.10	-33.3
Golconda Res	GA	56	0.06	0.04	0.04	-33.3
Electra Gold	ELT	13	0.02	0.02	0.02	-33.3
Northrock Res	NRK	2265	0.06	0.04	0.04	-33.3
Goldrush Res	GOD	138	0.12	0.12	0.12	-33.3

Amazon Mng

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Rainy River Rs	RR	4442793	6.51	+ 1.08
East Asia Mnls	EAS	1292668	7.60	+ 0.73
Kaminak Gold	KAM	4654747	1.52	+ 0.68
Olivut Res	OLV	2095871	0.70	+ 0.32
Merit Mng	MEM	12343	0.96	+ 0.31
San Gold Res	SGR	6012518	4.52	+ 0.30
AMZ	161030	1.45	+ 0.27
Anfield Nickel	ANF	155160	3.00	+ 0.25
Decade Res	DEC	5243969	0.50	+ 0.24
Mayen Mnls	MYM	129650	0.65	+ 0.24
Sandstorm Mt&E	SND	680046	0.36	-0.36
Upper Can Gold	UCC	118600	0.31	-0.19
Century Mining	CMM	6066387	0.59	-0.17
Goldsource Min	GXS	73692	1.10	-0.15
Jazz Res	JZR	10096	0.25	-0.14
Universal Powr	UNX	680454	1.89	-0.11
Colstar Vent	CTR	22000	0.46	-0.10
McVicar Res	MCV	63100	0.38	-0.10
Apoquindo Mnls	AQM	116300	0.70	-0.09
Tsodilo Res	TSD	51711	2.11	-0.09