The third week of November saw the S&PTSX Venture composite index lose more than it gained for the first time since July: the board lost 84.22 points in the first two days of the week, but recovered somewhat to end down 11.22 points at 1,995.87. The loss disrupted a four-month ascent during which the board climbed from 1,343 to above 2,000.
Daily trading volumes remained very strong, averaging 140 million. And despite the overall loss, 96 juniors reached new 52-week highs while only 47 fell to new lows.
BonTerra Resources moved 22 million shares to fall 19¢ to 50¢. BonTerra is exploring its Eastern Extension property, on the Abitibi greenstone belt in Quebec, and earlier in the month reported a 13.5-metre intercept grading 17.06 grams gold per tonne in hole 1 and a 7.7-metre hit in hole 2 averaging 25.36 grams gold. This week hole 3, collared 20 metres away, returned two intercepts: 1.8 metres of 39.49 grams gold and 6.8 metres of 12.7 grams gold. In October, BonTerra shares were trading around 13¢.
Metalex Ventures saw its share price almost double on news a 15-metre drill intercept from the T1 kimberlite at its Kyle Lake project in Quebec contained 800 diamonds, ranging in size from 0.425 to 0.85 mm. The intercept is now being processed further to recover any additional stones. The news pushed Metalex shares up 38.5¢ to 80¢. Arctic Star Diamond, a 5.8% joint-venture partner, saw its share price remain unchanged despite 14 million shares traded.
A 520-metre hit averaging 1.44 grams gold at the Chester project in northern Ontario propelled Trelawney Mining and Exploration up 64¢ to $2.54. Trelawney says the hit supports the company’s belief that Chester has the potential to host as much as 6 million oz. gold. Following the news, Trelawney announced a $50-million bought-deal offering, which it increased to $55 million the next day.
Two sets of drill results revealing three new zones and the closing of a $12-million financing were not enough for Kaminak Gold shareholders, who pushed the company’s share price down 14¢ to $2.98. Drills at the Coffee project in the Yukon first discovered two new zones in the Latte area, which produced such intercepts as 5.5 grams gold over 11 metres and 2.6 grams gold over 13 metres, and then returned 2.4 grams gold over 18 metres and 6.53 grams gold over 3 metres in the new Americano zone.
BHP Billiton’s failed bid to acquire Potash Corp. of Saskatchewan has been a boon for potash juniors, as investors gamble on where the world’s potash money might flow next. Some have bet on Western Potash, lifting its share price from 45¢ to more than $1 since mid-August. In September, the company completed a scoping study for its Milestone project in Saskatchewan, which pegged potash resources at 174 million measured and indicated tonnes plus 560 million inferred tonnes.
TSX-V most active issues | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Bonterra Res | BTR | 22116 | 0.71 | 0.38 | 0.49 | -0.19 |
KWG Res | KWG | 16256 | 0.12 | 0.10 | 0.11 | 0.00 |
Arctic Star Di | ADD | 14168 | 0.05 | 0.04 | 0.05 | + 0.01 |
Iberian Mnls | IZN | 12883 | 0.82 | 0.65 | 0.80 | + 0.04 |
US Silver | USA | 12816 | 0.71 | 0.53 | 0.66 | -0.04 |
Sheltered Oak | OAK | 11183 | 0.14 | 0.10 | 0.13 | + 0.03 |
North Am Gem | NAG | 10368 | 0.12 | 0.09 | 0.12 | + 0.01 |
Sandstorm Res | SSL | 9935 | 0.74 | 0.67 | 0.69 | -0.04 |
La Quinta Res | LAQ | 9033 | 0.09 | 0.06 | 0.08 | + 0.01 |
Passprt Potash | PPI | 9018 | 0.16 | 0.09 | 0.14 | + 0.04 |
TSX-V greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Augen Gold | GLD | 7802 | 0.65 | 0.28 | 0.56 | + 86.6 |
Metalex Vent | MTX | 1023 | 0.90 | 0.41 | 0.80 | + 86.0 |
Tri Origin Exp | TOE | 838 | 0.17 | 0.11 | 0.17 | + 70.0 |
Roscan Minls | ROS | 34 | 0.10 | 0.09 | 0.10 | + 66.6 |
Olivut Res | OLV | 1535 | 1.35 | 0.76 | 1.18 | + 57.3 |
Augen Capital | AUG | 815 | 0.12 | 0.06 | 0.11 | + 57.1 |
NMC Res | NRC | 983 | 0.25 | 0.15 | 0.23 | + 53.3 |
Confedertn Mls | CFM | 418 | 0.29 | 0.19 | 0.29 | + 52.6 |
Midasco Cap | MGC | 90 | 0.06 | 0.05 | 0.06 | + 50.0 |
Candorado Oper | CDO | 2660 | 0.06 | 0.04 | 0.06 | + 50.0 |
Whitemud Res | WMK | 4094 | 0.22 | 0.08 | 0.09 | -64.0 |
Indicator Minl | IME | 5364 | 0.12 | 0.08 | 0.09 | -40.0 |
Meritus Mnls | MER | 1514 | 0.28 | 0.18 | 0.18 | -35.7 |
El Nino Vent | ELN | 1388 | 0.10 | 0.07 | 0.07 | -30.0 |
Pac Coast Nikl | NKL | 114 | 0.08 | 0.05 | 0.07 | -30.0 |
Atocha Res | ATT | 5238 | 0.17 | 0.11 | 0.12 | -29.4 |
Tosca Mng | TSQ | 59 | 0.25 | 0.17 | 0.18 | -28.0 |
Bonterra Res | BTR | 22116 | 0.71 | 0.38 | 0.49 | -27.9 |
Stealth Mnls | SML | 614 | 0.04 | 0.03 | 0.03 | -25.0 |
Teslin Rvr Res | TLR | 144 | 0.07 | 0.06 | 0.06 | -25.0 |
TSX-V greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
Trelawney M&Ex | TRR | 7683897 | 2.54 | + 0.57 |
Cayden Res | CYD | 102297 | 4.76 | + 0.54 |
Tasman Metals | TSM | 4829359 | 1.95 | + 0.49 |
Olivut Res | OLV | 1534725 | 1.18 | + 0.43 |
Clifton Star | CFO | 1379064 | 4.92 | + 0.39 |
Metalex Vent | MTX | 1022910 | 0.80 | + 0.37 |
Quest Rare Mnl | QRM | 2971971 | 4.55 | + 0.34 |
NinetyNineCp | WDG | 1424302 | 2.62 | +0.32 |
Mirasol Res | MRZ | 410705 | 3.67 | + 0.32 |
Iron Creek Cap | IRN | 253320 | 0.95 | + 0.27 |
RareElemntRs | RES | 1037547 | 10.00 | -1.25 |
Chesapeake Gld | CKG | 299766 | 11.73 | -0.45 |
Strategic Metl | SMD | 2411388 | 2.01 | -0.40 |
Polar Star Mng | PSR | 444386 | 1.90 | -0.40 |
Pac Booker Min | BKM | 20168 | 8.90 | -0.35 |
Atac Res | ATC | 1833178 | 7.70 | -0.30 |
Kaminak Gold | KAM | 2439156 | 2.98 | -0.22 |
Bonterra Res | BTR | 22115693 | 0.49 | -0.19 |
Eurasian Minls | EMX | 80244 | 2.51 | -0.18 |
RomarcoMnrls | R | 4479504 | 2.44 | -0.18 |
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