The S&P/TSX Venture Composite Index posted its second consecutive gain during the trading period, rising 0.98% to 1,240.25 points for a 12.02-point weekly jump.
Markets were buoyed by further signs of an economic recovery in China. The world’s second-largest economy saw exports rise 14.1% in December — compared to a 2.9% jump in November.
Meanwhile, the European Union is struggling to emerge from widespread recession, with European Central Bank president Mario Draghi predicting a gradual recovery through 2013, as Spain’s government bond yields dropped below 5% to a 10-month low.
Commodity prices had a bit of a rough week, with February contracts for gold falling US$17.40 to US$1,660.60 per oz., and March contracts for copper dropping US4¢ to US$3.66 per lb. Crude oil also posted a loss, closing Jan. 11 down US26¢ to US$93.56 per barrel for February contracts on the New York Mercantile Exchange.
Toronto-based explorer Probe Mines wrapped up a strong week with a 29¢ gain, en route to a $2.18-per-share close. The company released additional assays from an ongoing drill program at its Borden gold project outside of Chapleau, Ont., on Jan. 8.
Probe says the results expand Borden’s gold zone to depth, with drilling identifying new mineralization along the northeast hangingwall of its main zone. The company drilled four expansion holes at depth, as well as 11 infill holes and two holes targeting the hangingwall in search of parallel gold zones.Highlights from the depth-extension drilling include: 5.3 metres grading 6.4 grams gold per tonne from 365 metres depth in hole 112-303; 13 metres averaging 2.5 grams gold from 438 metres in hole 112-305; and 10.6 metres carrying 1.4 grams gold from 369 metres depth in hole 112-313.
Probe has completed over 94,000 metres at Borden to date, with the deposit remaining open in all directions. The Borden gold zone contains an in-pit resource totalling 82 million indicated tonnes grading 1.04 grams gold for 2.7 million contained oz. at a 0.6-gram gold cut-off.
British Columbian explorer Gold Reach Resources enjoyed a similar gain when it jumped 23¢ on the week before closing at $1.49 per share. The company released updated drill results from its Ootsa copper-gold-silver property in northwest B.C. on Jan. 10. Ootsa sits alongside Imperial Metals’ operational Huckleberry copper mine and hosts four mineralized zones. The largest deposit, the Seel zone, hosts 28.1 million indicated tonnes grading 0.22% copper, 0.21 gram gold and 1.1 grams silver, plus 214.8 million inferred tonnes averaging 0.17% copper, 0.13 gram gold and 2.17 grams silver.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Castillian Res | CT | 14356 | 0.03 | 0.03 | 0.03 | – | 0.01 |
| Cerro Res | CJO | 10017 | 0.16 | 0.14 | 0.16 | + | 0.01 |
| Fire River Gol | FAU | 6025 | 0.08 | 0.06 | 0.06 | 0 | |
| Copper Fox Mtl | CUU | 5460 | 1.02 | 0.61 | 0.93 | + | 0.12 |
| Great Western | GWG | 5265 | 0.34 | 0.24 | 0.32 | + | 0.08 |
| Sandstorm Mt&E | SND | 3769 | 0.52 | 0.48 | 0.5 | + | 0.03 |
| Atlanta Gold | ATG | 3748 | 0.05 | 0.04 | 0.04 | + | 0.01 |
| Northern Graph | NGC | 3488 | 1.34 | 1.02 | 1.14 | + | 0.11 |
| Aurcana Corp | AUN | 3414 | 0.98 | 0.93 | 0.93 | – | 0.05 |
| Habanero Res | HAO | 3316 | 0.04 | 0.03 | 0.03 | + | 0.01 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Dunav Res | DNV | 303 | 0.29 | 0.15 | 0.29 | + | 123 |
| Conway Res | CWY | 313 | 0.01 | 0.01 | 0.01 | + | 100 |
| Metalcorp | MTC | 329 | 0.04 | 0.03 | 0.04 | + | 100 |
| Duncan Park H | DPH | 1740 | 0.03 | 0.02 | 0.02 | + | 100 |
| Copper Ck Gold | CPV | 12 | 0.01 | 0.01 | 0.01 | + | 100 |
| Revolver Res | RZ | 880 | 0.06 | 0.03 | 0.06 | + | 100 |
| Meritus Mnls | MER | 565 | 0.02 | 0.01 | 0.02 | + | 100 |
| Killdeer Mnls | KMI | 68 | 0.05 | 0.03 | 0.03 | + | 100 |
| Greenock Res | 45 | 0.03 | 0.02 | 0.02 | + | 100 | |
| Plato Gold | PGC | 97 | 0.01 | 0.01 | 0.01 | + | 100 |
| Auracle Res | AAL | 53 | 0.06 | 0.04 | 0.04 | – | 61.9 |
| Gitennes Expl | GIT | 382 | 0.03 | 0.02 | 0.02 | – | 50 |
| Abitex Res | ABE | 183 | 0.01 | 0.01 | 0.01 | – | 50 |
| Driven Capital | DVV | 474 | 0.02 | 0.01 | 0.01 | – | 50 |
| Leeward Capitl | LWC | 43 | 0.02 | 0.01 | 0.01 | – | 50 |
| Nevada Geo Pow | NGP | 78 | 0.01 | 0.01 | 0.01 | – | 50 |
| Midlands Minls | MEX | 356 | 0.01 | 0.01 | 0.01 | – | 50 |
| Northcore Res | NCR | 23 | 0.01 | 0.01 | 0.01 | – | 50 |
| Romulus Res | ROM | 10 | 0.21 | 0.21 | 0.21 | – | 46.7 |
| Pantheon Vent | PVX | 16 | 0.1 | 0.07 | 0.07 | – | 46.1 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Anfield Nickel | ANF | 96688 | 3.8 | + | 0.4 |
| Lumina Copper | LCC | 510842 | 9.95 | + | 0.35 |
| Probe Mines | PRB | 1116587 | 2.18 | + | 0.29 |
| Gold Reach Res | GRV | 108785 | 1.49 | + | 0.23 |
| Cayden Res | CYD | 1398656 | 1.58 | + | 0.19 |
| Dunav Res | DNV | 303000 | 0.29 | + | 0.16 |
| D Arianne Res | DAN | 987153 | 1.12 | + | 0.15 |
| Atac Res | ATC | 712573 | 1.83 | + | 0.14 |
| Copper Fox Mtl | CUU | 5459691 | 0.93 | + | 0.12 |
| Avino Silver | ASM | 58644 | 1.88 | + | 0.12 |
| Pac Booker Min | BKM | 23058 | 5.36 | – | 0.84 |
| Reservoir Mnls | RMC | 266954 | 2.23 | – | 0.25 |
| Newstrike Cap | NES | 297610 | 1.85 | – | 0.21 |
| Romulus Res | ROM | 10000 | 0.21 | – | 0.18 |
| Gold Reserve | GRZ | 72058 | 2.95 | – | 0.16 |
| Gold Canyon | GCU | 987348 | 0.86 | – | 0.14 |
| Athabasca Mnls | ABM | 379028 | 1.54 | – | 0.11 |
| West High Yld | WHY | 40410 | 0.5 | – | 0.1 |
| Northquest | NQ | 135300 | 0.58 | – | 0.1 |
| Northern Vertx | NEE | 78300 | 1.21 | – | 0.09 |
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