TSX VENTURE EXCHANGE -November 22-26

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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