TSX VENTURE EXCHANGE -May 31-June 4

It was a week in the red for the S&P/TSX Venture composite index over the May 31-June 4 trading period, as investor uncertainty over everything from the Eurozone to the summer doldrums pushed the board down 34.77 points over the week to close at 1,453.23. And it seems many investors just stayed away: trading volumes were down considerably, averaging just 87 million.

Nowhere was the negative market sentiment clearer than in comparing juniors reaching new share price highs versus falling to new lows: only 25 Venture-listed companies rose to new 52-week highs, but 167 dropped to new lows.

One of those bears was Fire River Gold, which lost 2¢ to start the week at a new low of 36¢. But then the junior released more results from its Nixon Fork gold mine project in Alaska and news of intercepts such as 12.3 metres grading 23.2 grams gold per tonne and 5 metres of 19 grams gold prompted an 8¢ gain by the end of the week. Fire River is assaying drill cores from 2007, when a previous operator drilled 9,400 metres from underground drill stations but never reported the results.

The Ring of Fire in the James Bay lowlands of northern Ontario has been generating considerable news of late. Spider Resources, locked in a tug-of-war between merging with KWG Resources and being acquired by Cliffs Natural Resources, was the most traded exploration and mining stock on the Venture board, moving 26.8 million shares to gain a penny to close at 14¢. KWG also saw high trading volume, moving 14 million shares to remain unchanged at 14¢.

Sandspring Resources updated the resource estimate for its Toroparu gold-copper prospect in Guyana. Its president Abraham Drost describes it as sufficiently robust to consider advancing the project to a feasibility study. Toroparu is now home to 105 million indicated tonnes grading 0.86 gram gold and 0.12% copper plus 38.8 million inferred tonnes averaging 0.72 gram gold and 0.08% copper, all contained within an open-pit shell. The company’s share price fell 11¢ over the week to $1.26.

Western Potash investors were slightly more satisfied with their company’s new resource estimate, lifting the company’s share price 2¢ to 46¢. The Milestone potash project hosts 409 million measured tonnes of 31% potassium chloride (KCl), 1.4 billion indicated tonnes of 30.8% KCl, and 7 billion inferred tonnes of 30.9% KCl, in three intervals amenable to solution mining.

Another set of encouraging drill results from the Kenieba gold property in Mali could not save Avion Gold from the falling tide. Avion reported such intercepts as 12 metres of 5.79 grams gold, 2.3 metres of 29.8 grams gold, and 4.7 metres of 7.77 grams gold but still lost 9¢ to close at 51¢. Kenieba is adjacent to Avion’s producing Tabakoto gold project.

TSX-V most active issues
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Spider Res SPQ 26824 0.14 0.12 0.14 + 0.01
Medoro Res MRS 23134 0.81 0.67 0.71 -0.00
KWG Res KWG 13886 0.14 0.13 0.14 0.00
MacDonald Mns BMK 12863 0.25 0.16 0.20 + 0.05
Canaco Res CAN 10894 0.87 0.73 0.79 + 0.05
Habanero Res HAO 9761 0.16 0.12 0.15 + 0.04
NorthernGldMNGM 9608 0.16 0.12 0.14 +0.01
MountainBoyMMTB 8644 0.25 0.19 0.23 +0.01
Everett Minls EAR 6315 0.08 0.05 0.06 + 0.01
Great Western GWG 6077 0.22 0.18 0.19 0.00
TSX-V greatest percentage change
VOLUME WEEK
(000s) HIGH LOW CLOSE CHANGE
Landdrill Int LDI 195 0.15 0.09 0.14 + 75.0
New Island Res NIS 2032 0.09 0.05 0.08 + 60.0
Santa Fe Metls SFM 307 0.12 0.07 0.12 + 50.0
Colibri Res CBI 65 0.07 0.06 0.06 + 50.0
Canuc Res CDA 618 0.32 0.20 0.30 + 50.0
Zinco Mng ZIM 12 0.28 0.22 0.28 + 47.3
Jiminex JIM 111 0.11 0.08 0.10 + 42.8
Rome Res RMR 36 0.44 0.35 0.44 + 41.9
Golden Hope GNH 3252 0.29 0.20 0.28 + 40.0
Petro Horizon PHE 644 0.28 0.17 0.28 + 40.0
Savant Expl SVT 342 0.13 0.06 0.08 -52.9
Tanqueray Res TQY 102 0.05 0.02 0.02 -50.0
Upper Can Gold UCC 404 0.41 0.25 0.27 -44.9
Cadillac Mng CQX 11 0.04 0.03 0.03 -40.0
Mukuba Res MKU 81 0.37 0.22 0.32 -37.2
Waseco Res WRI 149 0.10 0.08 0.08 -33.3
Bonterra Res BTR 2283 0.14 0.08 0.08 -33.3
Pinestar Gold PNS 502 0.10 0.07 0.09 -30.7
Logan Res LGR 651 0.08 0.05 0.05 -28.5
Kent Expl KEX 3179 0.17 0.13 0.13 -27.7
TSX-V greatest value change
WEEK
VOLUME CLOSE CHANGE
AfricanAuraM AUR 17067 1.35 + 0.20
Kaminak Gold KAM 4271016 1.50 + 0.18
Atac Res ATC 1356700 1.56 + 0.17
Olivut Res OLV 1318893 0.70 + 0.15
Titanium Corp TIC 133900 1.30 + 0.15
Golden Alli Rs GLL 37230 0.83 + 0.13
Callinan Mns CAA 247200 1.73 < /td>

+ 0.13
Rome Res RMR 36000 0.44 + 0.13
Grayd Res GYD 130670 0.90 + 0.12
AM Gold AMG 1029789 0.46 + 0.11
Rainy River Rs RR 955225 6.04 -0.55
East Asia Mnls EAS 676692 7.13 -0.43
Alderon Res ADV 122300 1.30 -0.38
Quest Rare Mnl QRM 526835 2.20 -0.36
Clifton Star CFO 336647 4.42 -0.33
Tasman Metals TSM 262698 0.77 -0.23
Antares Minls ANM 714121 2.10 -0.22
Upper Can Gold UCC 403600 0.27 -0.22
Pac Booker Min BKM 18371 6.98 -0.21
Mukuba Res MKU 81497 0.32 -0.19
Print

 

Republish this article

Be the first to comment on "TSX VENTURE EXCHANGE -May 31-June 4"

Leave a comment

Your email address will not be published.


*


By continuing to browse you agree to our use of cookies. To learn more, click more information

Dear user, please be aware that we use cookies to help users navigate our website content and to help us understand how we can improve the user experience. If you have ideas for how we can improve our services, we’d love to hear from you. Click here to email us. By continuing to browse you agree to our use of cookies. Please see our Privacy & Cookie Usage Policy to learn more.

Close