The S&P/TSX Venture Composite Index fell 38.1 points, or 3%, before closing the week at 1,220.90. Global economic news was mixed, with ongoing negotiations over the U.S. fiscal cliff and uncertainty surrounding a eurozone recovery limiting market movement.
The Royal Bank of Canada provided some buoyancy when it beat expectations by recording annual profits of $7.5 billion, though Statistics Canada painted a less promising picture when it reported no growth in gross domestic product during September, which marked a second consecutive monthly slowdown for the Canadian economy.
Commodities also remained mixed, with spot gold dropping US$36.70 per oz. to US$1,715.20, while March contracts for copper jumped 4¢ to US$3.65 per lb. Crude oil rose, with January contracts up 84¢ to US$88.91 per barrel on the New York Mercantile Exchange.
Astur Gold rose 21¢ before closing at 94¢ per share. On Nov. 29, the company announced that Spanish authorities had issued a positive environmental impact statement on its 100%-owned Salave gold project. Astur plans on building an underground mine holding 17.95 million measured and indicated tonnes grading 2.92 grams gold per tonne for 1.68 million contained oz. gold.
Goldquest Mining took another tumble this week following news from an ongoing drill program at the company’s Romero gold-copper target on the Las Tres Palmas trend in the Dominican Republic. Goldquest led the value-lost category by dropping 33¢ before closing out the week at 49¢ per share. Goldquest cut dual low-grade gold mineralized zones south of Romero in 110, including 11.8 metres grading 0.55 gram gold per tonne from 98 metres depth and 24.4 metres averaging 0.43 gram gold from 186 metres depth.
Pacific Booker Minerals is fighting back after the B.C. government denied the company environmental permits for its Morrison Lake copper-gold project in early October. Pacific Booker led the value-added category this week when it gained $2.08 en route to a $6.58 weekly close. The company plummeted from a 2012 high of $14.95 per share to a 52-week low of $2.90 after the permit denial, and it has spent the past eight weeks preparing responses to the concerns listed in the rejection letter. On Nov. 28, Pacific Booker released information regarding the project’s effect on Morrison Lake’s water quality. The company said its plant design could treat the water quality estimates in the proposed mine. The company also said that according to the Morrison Lake effects assessment report, any chance in predicted lake metal concentrations are “below B.C. water quality guidelines, and nominally above baseline.”
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| GoldQuest Mng | GQC | 14032 | 0.83 | 0.47 | 0.49 | – | 0.33 |
| Oceanic Iron O | FEO | 8019 | 0.16 | 0.14 | 0.15 | – | 0.01 |
| NWM Mng | NWM | 7403 | 0.05 | 0.03 | 0.04 | – | 0.02 |
| Castillian Res | CT | 7259 | 0.03 | 0.03 | 0.03 | 0 | |
| KWG Res | KWG | 7148 | 0.06 | 0.05 | 0.05 | 0 | |
| Unigold | UGD | 5924 | 0.35 | 0.26 | 0.35 | + | 0.1 |
| Bell Copper | BCU | 5531 | 0.01 | 0.01 | 0.01 | + | 0.01 |
| Cascadero Copp | CCD | 5212 | 0.14 | 0.12 | 0.14 | + | 0.01 |
| Sandstorm Mt&E | SND | 5114 | 0.55 | 0.5 | 0.5 | – | 0.01 |
| Great Western | GWG | 4945 | 0.29 | 0.25 | 0.26 | – | 0.01 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Torch Rvr Res | TCR | 298 | 0.02 | 0.02 | 0.02 | + | 100 |
| Silver Fields | SF | 134 | 0.01 | 0.01 | 0.01 | + | 100 |
| Arcturus Res | AZN | 50 | 0.01 | 0.01 | 0.01 | + | 100 |
| Bell Copper | BCU | 5531 | 0.01 | 0.01 | 0.01 | + | 100 |
| Randsburg Intl | RGZ | 403 | 0.07 | 0.05 | 0.07 | + | 85.7 |
| Goldspike Expl | GSE | 31 | 0.14 | 0.1 | 0.1 | + | 66.6 |
| Snowfield Dev | SNO | 419 | 0.03 | 0.02 | 0.03 | + | 66.6 |
| Pac Coal Res | PAK | 1151 | 0.18 | 0.11 | 0.18 | + | 63.6 |
| San Marco Res | SMN | 622 | 0.18 | 0.13 | 0.17 | + | 54.5 |
| Am Creek Res | AMK | 1164 | 0.09 | 0.06 | 0.09 | + | 54.5 |
| Alexander Mn g |
AXD | 29 | 0.04 | 0.03 | 0.03 | – | 53.8 |
| Brandenburg En | BBM | 817 | 0.04 | 0.03 | 0.03 | – | 50 |
| Secova Mtls | SEK | 249 | 0.01 | 0.01 | 0.01 | – | 50 |
| Aurtois Expl | EXA | 408 | 0.01 | 0.01 | 0.01 | – | 50 |
| Touchdown Res | TDW | 1525 | 0.01 | 0.01 | 0.01 | – | 50 |
| New Guinea Gld | NGG | 632 | 0.01 | 0.01 | 0.01 | – | 50 |
| Meritus Mnls | MER | 365 | 0.01 | 0.01 | 0.01 | – | 50 |
| Victory Vent | VVN | 232 | 0.05 | 0.03 | 0.03 | – | 45.4 |
| Thelon Cap | THC | 63 | 0.03 | 0.02 | 0.02 | – | 42.8 |
| Ross River Mnl | RRM | 1040 | 0.04 | 0.02 | 0.02 | – | 42.8 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Pac Booker Min | BKM | 184316 | 6.58 | + | 2.08 |
| Comet Inds | CMU | 52000 | 3.25 | + | 0.25 |
| Amarillo Gold | AGC | 74448 | 0.99 | + | 0.22 |
| Astur Gold | AST | 568804 | 0.94 | + | 0.21 |
| Challenger Dee | CDE | 110035 | 0.38 | + | 0.12 |
| Midland Expl | MD | 12300 | 1.33 | + | 0.1 |
| Unigold | UGD | 5923671 | 0.35 | + | 0.1 |
| Gold Reserve | GRZ | 88156 | 3.15 | + | 0.09 |
| Argex Silver C | RGX | 1924879 | 1.34 | + | 0.09 |
| Flinders Res | FDR | 130968 | 1.05 | + | 0.08 |
| GoldQuest Mng | GQC | 14031880 | 0.49 | – | 0.33 |
| Kaminak Gold | KAM | 1802831 | 1.2 | – | 0.26 |
| Chesapeake Gld | CKG | 52186 | 9 | – | 0.25 |
| Athabasca Mnls | ABM | 514687 | 1.77 | – | 0.25 |
| Lumina Copper | LCC | 163362 | 8.89 | – | 0.23 |
| Atacama Pac Gd | ATM | 107195 | 3.05 | – | 0.21 |
| Probe Mines | PRB | 2141216 | 1.94 | – | 0.19 |
| Energold Drill | EGD | 829570 | 3.02 | – | 0.17 |
| Bear Creek Mng | BCM | 311527 | 3.34 | – | 0.16 |
| Dia Bras Expl | DIB | 26727 | 2.5 | – | 0.14 |
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