The second week of December was a sideways one for the S&P/TSX Venture Composite Index, as it alternated between small gains and small losses to end the session up just 0.66 point at 1,183.62. Trading volumes were average, ranging between 70 million and 95 million trades per day.
Copper inventories in London climbed to their highest levels since September 2008, but the spot price remained steady near US$3.65 per lb. Gold was not so steady: anxiety over the looming fiscal cliff pushed investors to U.S. bonds, dragging down the gold price by US$20 to US$1,693 per oz. gold by the week’s end.
The spot price of uranium, by contrast, inched upwards. It ended the week at US$43.50 per lb. uranium oxide, up from its early November drop below US$41. Coal prices also gained ground.
Kaminak Gold turned around a two-month share price decline with the release of the maiden resource estimate for its Coffee gold project in the Yukon. The project holds 64 million inferred tonnes grading 1.56 grams gold per tonne for 3.2 million contained oz. gold, using cut-off grades of 0.5 gram gold for oxide and transitional material, and 1 gram gold for sulphide mineralization. The company says there is expansion potential along strike from the current resource and elsewhere. News of the resource came out on Dec. 10, and by Dec. 14, shares had gained 42¢ to reach $1.43.
Mirasol Resources also had a good week, with its share price gaining 10% on news that the company is selling its 49% stake in the Joaquin silver-gold project in Argentina to partner Coeur d’Alene Mines. Mirasol will receive US$60 million for its stake, split between cash and Coeur shares. With the divestment, Mirasol can maintain its focus on exploration.
Also gaining ground was Sierra Metals, which discovered another high-grade vein at its development-stage Cusi silver property in Mexico. The previously unknown vein, located in a deeper portion of the deposit’s disseminated zone, returned 49 metres grading 753 grams silver per tonne, including 33.8 metres grading 1,058 grams silver. The company described the intercept as the most impressive result in its history for its combination of core length and silver grade.
The market was not similarly impressed with the latest drill results from Reservoir Minerals. Reservoir is exploring its Timok project in eastern Siberia, and announced a new set of drill results, including 100 metres averaging 3.17% copper and 1.91 grams gold. The drill hit mineralization 584 metres below surface. Unhappy investors pushed the company’s share price from $2.80 to $2.30 over the week.
TSX-V most active issues, December 10 – 14
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| EastCoal | ECX | 14994 | 0.22 | 0.19 | 0.21 | – | 0.03 |
| RPT Uranium | RPT | 10090 | 0.01 | 0.01 | 0.01 | + | 0.01 |
| Unigold | UGD | 8934 | 0.42 | 0.32 | 0.41 | + | 0.09 |
| Fire River Gol | FAU | 8632 | 0.09 | 0.06 | 0.07 | + | 0.01 |
| Sandspring Res | SSP | 7989 | 0.43 | 0.35 | 0.38 | – | 0.03 |
| Castillian Res | CT | 7918 | 0.03 | 0.02 | 0.03 | + | 0.01 |
| GoldQuest Mng | GQC | 6974 | 0.68 | 0.39 | 0.64 | + | 0.2 |
| Kaminak Gold | KAM | 6666 | 1.47 | 0.98 | 1.43 | + | 0.43 |
| Atlanta Gold | ATG | 6320 | 0.04 | 0.02 | 0.03 | – | 0.01 |
| Catalyst Coppr | CCY | 5514 | 0.05 | 0.04 | 0.04 | – | 0.01 |
TSX-V greatest percentage change, December 10 – 14
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Goldstar Mnls | GDM | 1117 | 0.07 | 0.03 | 0.07 | + | 133.3 |
| Wildcat Expl | WEL | 74 | 0.23 | 0.08 | 0.16 | + | 128.5 |
| BE Res | BER | 928 | 0.03 | 0.01 | 0.02 | + | 100 |
| Stealth Mnls | SML | 178 | 0.03 | 0.02 | 0.03 | + | 100 |
| Dawson Gold | DYU | 174 | 0.01 | 0.01 | 0.01 | + | 100 |
| RPT Uranium | RPT | 10090 | 0.01 | 0.01 | 0.01 | + | 100 |
| August Mtl | AGP | 377 | 0.02 | 0.02 | 0.02 | + | 100 |
| Secova Mtls | SEK | 152 | 0.01 | 0.01 | 0.01 | + | 100 |
| Kirrin Res | KYM | 1550 | 0.01 | 0.01 | 0.01 | + | 100 |
| Alexander Mng | AXD | 42< /td> | 0.06 | 0.06 | 0.06 | + | 100 |
| Arcturus Res | AZN | 34 | 0.01 | 0.01 | 0.01 | – | 50 |
| Gold World Res | GDW | 766 | 0.01 | 0.01 | 0.01 | – | 50 |
| Regent Vents | REV | 480 | 0.01 | 0.01 | 0.01 | – | 50 |
| Actus Mnls | AAC | 150 | 0.01 | 0.01 | 0.01 | – | 50 |
| Mukuba Res | MKU | 1481 | 0.03 | 0.01 | 0.02 | – | 50 |
| Mill City Intl | MC | 4145 | 0.02 | 0.01 | 0.01 | – | 50 |
| Arco Res | ARR | 352 | 0.01 | 0.01 | 0.01 | – | 50 |
| Infinito Gold | IG | 470 | 0.02 | 0.01 | 0.01 | – | 50 |
| La Quinta Res | LAQ | 75 | 0.01 | 0.01 | 0.01 | – | 50 |
| Takara Res | TKK | 3317 | 0.02 | 0.01 | 0.01 | – | 50 |
TSX-V greatest value change, December 10 – 14
| Company | Symbol | Change | Close | Change | |
| Pac Booker Min | BKM | 35984 | 6.33 | + | 1.1 |
| Kaminak Gold | KAM | 6666044 | 1.43 | + | 0.43 |
| Tsodilo Res | TSD | 52981 | 1.06 | + | 0.21 |
| GoldQuest Mng | GQC | 6973535 | 0.64 | + | 0.2 |
| Gold Reserve | GRZ | 60949 | 2.89 | + | 0.19 |
| Probe Mines | PRB | 2709864 | 2.08 | + | 0.18 |
| Palladon Vent | PLL | 707065 | 1.5 | + | 0.15 |
| Tasman Metals | TSM | 270369 | 1.3 | + | 0.12 |
| Mirasol Res | MRZ | 467204 | 2.21 | + | 0.11 |
| Bear Creek Mng | BCM | 573541 | 2.93 | + | 0.11 |
| Reservoir Mnls | RMC | 1225315 | 2.3 | – | 0.58 |
| Bralorne Gold | BPM | 37500 | 0.55 | – | 0.25 |
| Chesapeake Gld | CKG | 353895 | 8.64 | – | 0.21 |
| SilverCrest Mn | SVL | 652650 | 2.38 | – | 0.19 |
| Santacruz Silv | SCZ | 361610 | 2.16 | – | 0.14 |
| Maudore Minls | MAO | 294940 | 1.65 | – | 0.14 |
| Newstrike Cap | NES | 589181 | 1.85 | – | 0.13 |
| Solvista Gold | SVV | 295717 | 0.76 | – | 0.11 |
| Highvista Gold | HVV | 57925 | 0.17 | – | 0.1 |
| Esperanza Res | EPZ | 247906 | 1.32 | – | 0.08 |
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