TSX VENTURE EXCHANGE – OCT. 21-27

The Oct. 21-27 trading session was another tough week for the S&P-TSX Venture Composite Index. The junior board lost 175.95 points to end the week at just 808.99 points. The Venture board hadn’t been below 900 points since late 2002 and hasn’t neared the 800-point mark since early 2000.

For the fourth week running, no junior companies reached new share price highs and over this week, 692 juniors fell to new share price lows. Daily trading volumes remained decent, averaging out to 76 million.

Noront Resources had a busy week. First, the junior released a preliminary economic assessment for the Eagle One deposit, which foresees an underground mine producing high-grade ore for just over a year to mill off-site. Disseminated material would be mined for another five years to mill onsite. Then, at the end of the period, the company’s president, CEO and founder, Richard Nemis, stepped down as part of a compromise to settle a heated proxy battle over control of the company. Noront lost 27 over the week to close at 97.

The week took a toll on Pacific Booker Minerals, which is working towards a feasibility study for its Morrison copper-gold-molybdenum deposit in central B. C. Without releasing any news, the junior lost $2 to close the week at $3.50. Talks between Pacific Booker and the Lake Babine First Nation, on whose land Morrison sits, recently broke down.

But Pacific Booker was far from alone: many juniors lost considerable share price value for no obvious reason other than market volatility. Cheaspeake Gold lost $1.67 to close at $2.26, SouthGobi Energy fell $1.48 to $6.66, Whitemud Resources dropped 95 to end at $3.50, Goldsource Mines lost 75 to close at $1.03, and Quaterra Resources fell 50 to 75, to name a few.

Cedar Mountain Exploration managed to gain slightly over the week on news that the company acquired additional mineral properties and an interest in an 800-ton-per-day production facility in Zacatecas state, Mexico, for less than $300,000. The company also arranged a $1.05-million private placement of units — a share and a full warrant — for 15 apiece. Cedar Mountain closed the week up 7 at 21.

Despite news that its 200-ton-per-day mill is now ready to begin processing material from the La Yesca tailings deposit, UC Resources lost 1 to close the week at just 4. The junior is still awaiting the environmental permit needed to operate the La Yesca mill, where it plans to process 220,000 tons of tailings grading 2 grams gold per tonne and 220 grams silver.

And it was a recovery week for Archangel Diamond. Last week the company was finally granted conditional consent from the Russian government to acquire half of the Verkhotina diamond project, but the news came after the deadline for a US$172.4-million private placement of subscription receipts, which it must now return. This week, the junior recovered some of its previous losses, gaining 37 to close at 61.

TSX-V most active issues
	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
TradeWindsVt TWD	12420	0.05	0.01	0.03	-0.02
MacDonald Mns BMK	12137	0.09	0.03	0.05	-0.04
Arctic Star Di ADD	10456	0.05	0.03	0.03	0.00
UC Res UC	6288	0.05	0.04	0.04	-0.01
San Gold Res SGR	6047	0.91	0.57	0.72	-0.07
Metalex Vent MTX	5923	0.07	0.03	0.04	-0.02
Spider Res SPQ	5833	0.04	0.03	0.03	-0.01
Soho Res SOH	5457	0.03	0.01	0.01	0.00
Noront Res NOT	5382	1.24	0.60	0.97	-0.27
Boxxer Gold BXX	5171	0.03	0.01	0.02	0.00

TSX-V greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
New Horizon Ur	NHU	307	0.07	0.07	0.07	+250.0
Trillium North	TNM	37	0.08	0.07	0.08	+166.6
Archangel Dia	AAD	306	0.61	0.25	0.61	+154.1
Diagem	DGE	888	0.08	0.01	0.05	+150.0
Garibaldi Res	GGI	237	0.10	0.06	0.10	+150.0
Spruce Ridge R	SHL	65	0.14	0.14	0.14	+133.3
Viking Gold	VGC	46	0.06	0.04	0.06	+100.0
Midasco Cap	MGC	77	0.04	0.04	0.04	+100.0
Prize Mng	PRZ	613	0.05	0.04	0.04	+100.0
Namex Expl	NME	130	0.11	0.03	0.11	+ 83.3
Orsa Vent	ORN	40	0.04	0.01	0.01	-91.6
Ginguro Expl	GEG	280	0.06	0.05	0.05	-77.2
Silvermet	SYI	112	0.03	0.01	0.01	-75.0
Cream Mnrls	CMA	235	0.14	0.06	0.06	-71.4
Teryl Res Corp	TRC	32	0.06	0.02	0.05	-68.7
Golden Harp	GHR	45	0.08	0.06	0.06	-68.4
Solomon Res	SRB	405	0.06	0.03	0.03	-66.6
Capella Res	CPS	176	0.04	0.01	0.01	-66.6
Tanqueray Res	TQY	55	0.04	0.01	0.01	-66.6
Santa Fe Metls	SFM	20	0.28	0.10	0.10	-65.5

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Archangel Dia	AAD	305700	0.61	+ 0.37
WinEldrichMn	WEX	21000	0.55	+ 0.09
Spruce Ridge R	SHL	65000	0.14	+ 0.08
Miranda Gold	MAD	1025130	0.25	+ 0.07
GWR Res	GWQ	2768000	0.40	+ 0.07
Cedar Mtn Expl	CED	30000	0.21	+ 0.07
Salazar Res	SRL	229715	0.24	+ 0.06
Garibaldi Res	GGI	236700	0.10	+ 0.06
Northern Plat	NTH	33000	0.40	+ 0.06
Dalton Res Ltd	DAL	66660	0.14	+ 0.05
Pac Booker Min	BKM	36640	3.50	-2.00
Chesapeake Gld	CKG	285905	2.26	-1.67
SouthGobi Engy	SGQ	120347	6.66	-1.48
Whitemud Res	WMK	38319	3.50	-0.95
Goldsource Min	GXS	723943	1.03	-0.75
Quaterra Res	QTA	170400	0.75	-0.50
Canplats Res	CPQ	887705	1.18	-0.46
Hathor Expl	HAT	3028296	1.30	-0.46
Antares Minls	ANM	1149572	0.65	-0.44
Keegan Res	KGN	508615	0.50	-0.40