The last full week of November saw the S&P-TSX Venture composite index bounce back above the 2,000-point threshold after slipping below it the week before. The index ended up 61.13 points at 2,057.
Daily trading volume was quite high at an average of 162 million shares traded. The volume was good for juniors, as 159 Venturelisted companies hit 52-week highs while 43 juniors fell to new lows.
Richfield Ventures saw the biggest value gains, climbing $1.75 to $4.99 on 3.2 million shares traded. The company released drill results from its Blackwater gold-silver project in central British Columbia that included 171 metres grading 3.13 grams gold per tonne from 8 metres depth and 148 metres averaging 1.77 grams gold from 70 metres that pushed mineralization south and east respectively. Richfield also released preliminary metallurgical results that showed an average 92% gold recovery from whole ore cyanidation tests.
Juniors in the potash market saw heightened activity after K+S Aktiengesellschaft made a bid for Potash One, proving that interest in the resource is still high. Encanto Potash saw its share price double to 44¢ on 26.8 million shares traded, boosted also by drill results from its Muskowekwan property. Passport Potash climbed 9¢ to 23¢ on 23.6 million shares traded, Western Potash jumped 30¢ to $1.21 and Allana Potash rose 12¢ to 59¢.
For the second week in a row, Tasman Metals saw big gains as it advances its Norra Karr rare earth elements project in Sweden. Since Nov. 16, the company’s share price has climbed $2.25 or 168% to $3.59. While the company started metallurgical testing on a 100-kg sample, completed the final tranche of a $7.5-million financing and expects a resource report on the project shortly, Tasman has partially attributed the gain to a positive write-up in a “prestigious stock newsletter.”
Shares of Avion Gold climbed to new heights as the company released better-than-expected third quarter results. The company’s stock price jumped 39¢ to $1.41 on 14.6 million shares traded, having climbed fairly steadily from around 40¢ in late July. The last quarter saw the company earn US$13.6 million and sell 25,700 oz. gold, while the company expects to be producing 200,000 oz. gold annually from its Mali operations by 2012.
Infinito Gold saw its share price drop 51.8% to 13¢ after a Costa Rican tribunal cancelled the company’s exploitation concessions and environmental approvals for its Crucitas gold project in the country. The Crucitas project hosts 1.2 million indicated oz. and a further 1.2 million inferred oz., and a feasibility study put its after-tax internal rate of return at 35%.
Earlier this year the Supreme Court of Costa Rica had confirmed the validity of the same concessions and approvals. Full details of the decision are not yet available but the company is considering an appeal.
TSX-V most active issues | |||||
VOLUME | WEEK | ||||
(000s) | HIGH | LOW | CLOSE | CHANGE | |
IBC Adv Alloys IB | 39431 | 0.16 | 0.11 | 0.14 | + 0.02 |
Encanto Potash EPO | 26772 | 0.48 | 0.23 | 0.44 | + 0.22 |
Passprt Potash PPI | 23587 | 0.27 | 0.14 | 0.23 | + 0.09 |
Victoria Gold VIT | 23417 | 1.34 | 0.98 | 1.00 | -0.28 |
Candorado Oper CDO | 19927 | 0.09 | 0.06 | 0.07 | + 0.01 |
Western Potash WPX | 17450 | 1.23 | 0.99 | 1.21 | + 0.30 |
Allana Res AAA | 16402 | 0.61 | 0.47 | 0.59 | + 0.13 |
Forum Uranium FDC | 15713 | 0.31 | 0.16 | 0.28 | + 0.12 |
Northern Tiger NTR | 14838 | 0.74 | 0.34 | 0.34 | -0.29 |
Avion Gold AVR | 14575 | 1.42 | 1.01 | 1.41 | + 0.39 |
TSX-V greatest percentage change | ||||||
VOLUME | WEEK | |||||
(000s) | HIGH | LOW | CLOSE | CHANGE | ||
Aldershot Res | ALZ | 6968 | 0.12 | 0.05 | 0.10 | + 150.0 |
Valdez Gold | VAZ | 7090 | 1.04 | 0.51 | 0.52 | + 108.0 |
Admiral Bay Rs | ADB | 81 | 0.40 | 0.22 | 0.31 | + 106.6 |
Encanto Potash | EPO | 26772 | 0.48 | 0.23 | 0.44 | + 100.0 |
Jazz Res | JZR | 28 | 0.39 | 0.24 | 0.38 | + 100.0 |
Dawson Gold | DYU | 208 | 0.39 | 0.23 | 0.35 | + 84.2 |
Tasman Metals | TSM | 6727 | 3.88 | 2.38 | 3.59 | + 84.1 |
Parlane Res | PPP | 711 | 0.25 | 0.14 | 0.25 | + 78.5 |
Troymet Expl | TYE | 8779 | 0.41 | 0.22 | 0.37 | + 76.1 |
Pac Bay Mnrls | PBM | 3142 | 0.14 | 0.08 | 0.14 | + 75.0 |
Infinito Gold | IG | 2209 | 0.29 | 0.12 | 0.13 | -51.8 |
Northern Tiger | NTR | 14838 | 0.74 | 0.34 | 0.34 | -46.0 |
Darnley Bay | DBL | 2824 | 0.24 | 0.12 | 0.13 | -45.8 |
Luiri Gold | LGL | 13 | 0.12 | 0.12 | 0.12 | -40.0 |
Whitemud Res | WMK | 726 | 0.09 | 0.06 | 0.07 | -30.0 |
Amanta Res | AMH | 1322 | 0.21 | 0.12 | 0.14 | -30.0 |
Avrupa Mnls | AVU | 397 | 0.52 | 0.39 | 0.39 | -26.4 |
Manitou Gold | MTU | 51 | 0.38 | 0.31 | 0.31 | -26.1 |
Advance Gold | AAX | 36 | 0.11 | 0.09 | 0.09 | -25.0 |
Augen Gold | GLD | 4380 | 0.61 | 0.36 | 0.42 | -25.0 |
TSX-V greatest value change | ||||
WEEK | ||||
VOLUME | CLOSE | CHANGE | ||
Richfield Vent | RVC | 3247766 | 4.99 | + 1.75 |
Tasman Metals | TSM | 6726840 | 3.59 | + 1.64 |
Lumina Copper | LCC | 458758 | 4.50 | + 1.15 |
RareElemntRs | RES | 708672 | 10.80 | + 0.80 |
Mirasol Res | MRZ | 1780329 | 4.40 | + 0.73 |
Quest Rare Mnl | QRM | 4545552 | 5.24 | + 0.69 |
Probe Mines | PRB | 1070260 | 1.91 | + 0.58 |
Bear Creek Mng | BCM | 931763 | 9.07 | + 0.53 |
Callinan Mns | CAA | 976054 | 3.12 | + 0.48 |
Valley High Vt | VHV | 3164608 | 1.74 | + 0.42 |
NinetyNineCp | WDG | 893214 | 2.08 | -0.54 |
Pac Booker Min | BKM | 15788 | 8.60 | -0.30 |
Rainy River Rs | RR | 1218084 | 11.45 | -0.30 |
Northern Tiger | NTR | 14837903 | 0.34 | -0.29 |
Victoria Gold | VIT | 23417131 | 1.00 | -0.28 |
Maudore Minls | MAO | 116655 | 6.06 | -0.24 |
CrazyHorseRs | CZH | 289124 | 1.20 | -0.19 |
Prophecy Res | PCY | 2954593 | 0.98 | -0.17 |
Avrupa Mnls | AVU | 397000 | 0.39 | -0.14 |
Infinito Gold | IG | 2208916 | 0.13 | -0.14 |
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