Investors remained active and optimistic over the period of Oct. 13-19, pushing the S&P-TSX Venture Composite Index higher four of five days to close the period up 31.42 points at 1338.77. Daily trading volumes were strong, averaging 136 million.
That investor optimism lifted 128 Venturelisted companies to new 52-week share price highs over the week. Only 19 juniors fell to new lows.
A revamped feasibility study for the Mt. Milligan copper-gold project in central B. C. put Terrane Metals on the new-share-price-high list, lifting the company 23¢ to 93¢.The project’s reserves grew by more than 30% to 482 million tonnes grading 0.2% copper and 0.39 gram gold per tonne, enough to support a 22-year mine life at 60,000 tonnes per day. Capital costs to develop the project are estimated at $915 million. Goldcorp has until mid-January to decide whether to convert its 60% stake in Terrane into a direct stake in the Mt. Milligan project.
Canplats Resources gained 19¢ to reach $2.45 on news of a positive preliminary economic assessment of its Camino Rojo project in Zacatecas state, Mexico. An open pit, heap leach mine tapping into 74.9 million oxide and transitional tonnes grading 0.71 gram gold and 14.2 grams silver per tonne would support a 10.4-year mine life and produce gold at a net cash cost of US$340 per oz. A US$133.8-million capital investment would bring the operation on line. The study did not assess treating the project’s considerable sulphide mineralization.
More high-grade gold intercepts from the Rau project in the Yukon’s Keno Hill district added 18¢ to Atac Resources’ share price, bringing it to a new high of $1.25. Investors were pleased with intercepts from the Tiger zone at Rau, which included 31.5 grams gold over 72 metres, 4.06 grams gold over 42.7 metres, and 3.71 grams gold over 36.8 metres.
Despite losing 50¢ per oz. over the period, the price of silver remained strong, closing at US$17.50 per oz. And silver producers such as Fortuna Silver Mines continue to benefit. Fortuna started the year at 38¢ and last week hit a high of $1.68 on third quarter production numbers showing the Caylloma mine in Peru is on track to meet its production forecast of 1.6 million oz. this year.
The gold count at the Livengood project in Alaska grew yet again for International Tower Hill Mines, which gained 25¢ over the week to close at $5.89.
The Money Knob deposit at Livengood now hosts 297 million indicated tonnes grading 0.85 gram gold and 164 million inferred tonnes averaging 0.84 gram gold for a total of 12.5 million oz. gold. Tower Hill plans to use the latest resource estimate to conduct a preliminary economic assessment for the project over the winter.
And apparently 107 metres grading just over 1 gram gold is not enough for investors in East Asia Minerals, which lost 45¢ over the week despite releasing another good hole from its Miwah project in Northern Sumatra, Indonesia.
| TSX-V most active issues | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Bayswater Uran | BAY | 19246 | 0.22 | 0.12 | 0.14 | 0.00 |
| Great Western | GWG | 17563 | 0.40 | 0.29 | 0.31 | -0.05 |
| Terrane Metals | TRX | 15484 | 0.93 | 0.69 | 0.93 | + 0.23 |
| Canaco Res | CAN | 13881 | 0.64 | 0.46 | 0.59 | + 0.01 |
| RomarcoMnrls | R | 12502 | 1.29 | 1.15 | 1.27 | + 0.03 |
| Appleton Expl | AEX | 12158 | 0.18 | 0.13 | 0.16 | + 0.02 |
| Freewest Res | FWR | 11438 | 0.56 | 0.45 | 0.51 | + 0.01 |
| KWG Res | KWG | 10077 | 0.08 | 0.06 | 0.08 | 0.00 |
| Spider Res | SPQ | 9661 | 0.06 | 0.05 | 0.05 | 0.00 |
| Northern Conti | NCR | 8690 | 0.28 | 0.24 | 0.28 | + 0.02 |
| TSX-V greatest percentage change | ||||||
| VOLUME | WEEK | |||||
| (000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Duncan Park H | DPHH | 3695 | 0.04 | 0.01 | 0.03 | +200.0 |
| Crown Mnls | CWM | 257 | 0.15 | 0.08 | 0.15 | +150.0 |
| Waymar Res | WYM | 1086 | 0.30 | 0.12 | 0.25 | +127.2 |
| Caldera Res | CDR | 318 | 0.02 | 0.01 | 0.02 | +100.0 |
| BCM Res | B | 72 | 0.14 | 0.06 | 0.14 | +100.0 |
| Blue Note Mng | BNT | 797 | 0.28 | 0.14 | 0.25 | + 78.5 |
| Goldrush Res | GOD | 576 | 0.09 | 0.05 | 0.07 | + 75.0 |
| G4G Res | GXG | 314 | 0.50 | 0.30 | 0.50 | + 72.4 |
| Cornerstone Ca | CGP | 7509 | 0.16 | 0.08 | 0.12 | + 71.4 |
| Intl Montoro R | IMT | 577 | 0.05 | 0.04 | 0.05 | + 66.6 |
| Meritus Mnls | MER | 490 | 0.05 | 0.04 | 0.04 | -55.5 |
| Trillium North | TNM | 30 | 0.05 | 0.04 | 0.04 | -42.8 |
| Midasco Cap | MGC | 106 | 0.04 | 0.03 | 0.03 | -40.0 |
| Harte Res | HRT | 229 | 0.06 | 0.05 | 0.05 | -37.5 |
| Argonaut Expl | AGA | 11 | 0.10 | 0.10 | 0.10 | -33.3 |
| Odyssey Res | ODX | 108 | 0.23 | 0.19 | 0.19 | -32.1 |
| Gulfside Mnls | GMG | 531 | 0.95 | 0.55 | 0.66 | -31.9 |
| Panorama Res | PRA | 25 | 0.17 | 0.17 | 0.17 | -32.0 |
| Bonterra Res | BTR | 787 | 0.35 | 0.21 | 0.22 | -31.2 |
| Ucore Uranium | UCU | 4043 | 0.83 | 0.51 | 0.56 | -30.8 |
| TSX-V greatest value change | ||||
| WEEK | ||||
| VOLUME | CLOSE | CHANGE | ||
| Pac Booker Min | BKM | 49847 | 8.29 | + 0.86 |
| Exeter Res | XRC | 2377163 | 6.07 | + 0.47 |
| Hathor Expl | HAT | 4606632 | 2.23 | + 0.35 |
| Maudore Minls | MAO | 328866 | 3.72 | + 0.32 |
| SouthGobi Engy | SGQ | 446623 | 12.00 | + 0.25 |
| Intl Tower Hil | ITH | 2377614 | 5.89 | + 0.25 |
| Kootenay Gold | KTN | 356600 | 1.03 | + 0.23 |
| Terrane Metals | TRX | 15483918 | 0.93 | + 0.23 |
| G4G Res | GXG | 314000 | 0.50 | + 0.21 |
| Canplats Res | CPQ | 967002 | 2.45 | + 0.19 |
| Rare Elemnt Rs | RES | 1959093 | 3.41 | -0.64 |
| Clifton Star | CFO | 70069 | 2.29 | -0.46 |
| East Asia Mnls | EAS | 3162068 | 2.00 | -0.45 |
| Gulfside Mnls | GMG | 530991 | 0.66 | -0.31 |
| Energold Drill | EGD | 276876 | 2.07 | -0.28 |
| Ucore Uranium | UCU | 4043063 | 0.56 | -0.25 |
| Quest Uranium | QUC | 3081709 | 2.45 | -0.24 |
| Lumina Copper | LCC | 309700 | 0.97 | -0.24 |
| Noront Res | NOT | 5130663 | 1.80 | -0.20 |
| Rainy River Rs | RR | 1077212 | 2.11 | -0.17 |
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