TSX VENTURE EXCHANGE MAY 6-12

For the first time since February, the S&PTSX Venture Composite Index posted gains for five consecutive days over the May 6-12 trading session. The gains combined to boost the index 82.35 points over the week to close at 2,576.11. Daily trading volumes were consistent, averaging 97 million shares.

Despite overall gains, far more juniors sunk to news lows over the session than climbed to new highs: the Venture board saw 254 new share price lows and only 14 new highs.

The Saskatchewan coal craze continued to play a major role in trading volumes. The session’s volume leader was North American Gem, a small company focused until recently on every commodity but coal. North American Gem gained 17 or 212% to close at 25 on 47.5 million shares traded over the session, during which management applied for coal permits covering almost 1,416 sq. km near Goldsource Mines’ coal discovery.

Other coal craze traders included Goldsource, which continued its meteoric climb –adding another $2.20 to close at $6.75; Saturn Minerals, falling 6 on 18.3million trades; WestCan Uranium, trading 12.8 million shares to climb 10 to 17; and Canasia Industries, gaining a penny to close at 25 on 6.9 million trades.

Peak Gold managed a 13 gain over the session to close at 81 on a trading volume of 18.2 million. The company signed a definitive agreement for the previously announced merger with Metallica Resources and New Gold and announced first-quarter earnings of $9.8 million.

Cash Minerals, a Vancouver-based company exploring for uranium in the Yukon, climbed 12 over the session to close at 30 onno news. Similarly, Energold Drillingrose 61 on no news to close at $4.79.

The start of the summer drilling season at Reed Lake brought good news for VMS Ventures. The company’s first hole of the program at the Discovery zone returned a short, high-grade intercept; the second hole cut more than 100 metres of 1.09% copper. The news pushed VMS up 4 to close at 55 on 8.8 million shares traded.

A $1.9-million financing was enough to boost Altai Resources by 60 over the session. And news that a new model indicates increased nickel potential at the Langmuir project in Ontario boosted Golden Chalice Resources 43 to close at 96.

A host of companies, including Keegan Resources, Digger Resources, Canplats Resources, Clifton Star Resources and Consolidated Puma Minerals, lost considerable ground — 40 to 66 — without releasing any news.

Quaterra Resources lost 27 over the session, with more than half of the loss coming after news that the company’s drilling efforts at two of its Mexican properties — Mirasol and Crestones — failed to intersect significant amounts of precious metal mineralization.

TSX-V most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
North Am Gem	NAG	47563	0.25	0.08	0.25	+ 0.17
Yukon Zinc	YZC	25388	0.22	0.20	0.21	0.00
Saturn Minls	SMI	18308	0.44	0.27	0.38	-0.06
Peak Gold	PIK	18207	0.83	0.70	0.81	+ 0.13
Westcan Uran	WCU	12821	0.17	0.05	0.17	+ 0.10
Montello Res	MEO	11153	0.16	0.10	0.10	-0.04
Cash Minerals	CHX	9970	0.33	0.17	0.30	+ 0.12
VMS Vent	VMS	8778	0.63	0.50	0.55	+ 0.04
Universal Uran	UUL	7121	0.35	0.12	0.32	+ 0.15
Canasia Indust	CAJ	6924	0.25	0.20	0.25	+ 0.01

TSX-V greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
North Am Gem	NAG	47563	0.25	0.08	0.25	+212.5
Westcan Uran	WCU	12821	0.17	0.05	0.17	+142.8
Geo Minerals	GM	3836	0.34	0.12	0.23	+130.0
Universal Uran	UUL	7121	0.35	0.12	0.32	+ 88.2
Pac Link Mng	PKC	10	0.55	0.40	0.40	+ 81.8
Golden Chalice	GCR	2308	1.05	0.50	0.96	+ 81.1
Silver Fields	SF	1654	0.09	0.05	0.09	+ 80.0
Uranium Power	UPC	1542	0.46	0.26	0.44	+ 69.2
West Hawk Dev	WHD	4223	0.27	0.16	0.25	+ 66.6
Cash Minerals	CHX	9970	0.33	0.17	0.30	+ 66.6
Passport Metal	PPI	32	0.20	0.13	0.15	-48.2
Bayfield Vent	BYV	86	0.31	0.29	0.31	-38.0
RJK Explor	RJXA	127	0.07	0.05	0.05	-37.5
Mandalay Res	MLR	329	0.05	0.04	0.05	-37.5
Carlin Gold	CGD	61	0.07	0.05	0.06	-33.3
Nordic Diamond	NDL	261	0.09	0.06	0.08	-33.3
Cadillac Mng	CQX	115	0.08	0.05	0.08	-33.3
Ginguro Expl	GEG	15	0.34	0.31	0.31	-31.1
Wellstar Enrgy	WST	91	0.08	0.07	0.07	-30.0
Coniagas Res	CNY	10	0.29	0.21	0.21	-30.0

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Goldsource Min	GXS	4992116	6.75	+ 2.20
Pan Oce Exp	POE	696648	12.31	+ 0.91
Seabridge Gold	SEA	28700	22.39	+ 0.89
Energold Drill	EGD	955367	4.79	+ 0.61
Altai Res	ATI	4537161	1.84	+ 0.60
SouthGobi Engy	SGQ	23462	13.50	+ 0.51
Golden Chalice	GCR	2308415	0.96	+ 0.43
Intl Tower Hil	ITH	324418	1.70	+ 0.40
Belvedere Res	BEL	461200	1.40	+ 0.39
Exeter Res	XRC	316820	4.79	+ 0.39
Keegan Res	KGN	334102	3.74	-0.66
Digger Res	DIG	15275	2.40	-0.55
Canplats Res	CPQ	779342	3.11	-0.45
Clifton Star	CFO	58280	2.55	-0.40
Cons Puma Minl	CPW	37305	1.15	-0.40
Aranka Gold	ARK	18500	1.40	-0.35
Pac Booker Min	BKM	12283	8.41	-0.29
Quaterra Res	QTA	37580	3.35	-0.27
Noront Res	NOT	1030201	4.70	-0.25
Alhambra Res	ALH	38150	0.81	-0.20