The S&P/TSX Venture Composite Index took a breather this week after posting two consecutive periods of gains to start 2013, dropping 4.93 points, or 0.4%, en route to a 1,235.32-point close on Jan. 18.
Markets rallied later in the week following further signs that China was moving towards economic recovery, with the world’s second-largest economy posting a 7.9% growth during the fourth quarter of 2012. Though the growth figures were an improvement from the 7.4% seen during the second quarter, China posted its weakest annual growth rate since 1998 at 7.8%.
Commodity prices were a mixed bag this week with February contracts for gold bullion dropping US$3.80 to US$1,687 per oz., while February crude contracts jumped 7¢ to US$95.56 per barrel on the New York Mercantile Exchange. Copper rallied on the back of the Chinese economic figures, with March contracts rising 2¢ to close the week at US$3.68 per lb.
Kelowna-based Fission Energy had a busy week after announcing it had agreed to a US$70-million acquisition by Denison Mines. Fission saw 2 million shares trade hands this week, as the company’s stock jumped 21¢ before closing at 76¢ on Jan 18. Denison has been targeting a larger presence in Saskatchewan’s prolific Athabasca basin, and Fission’s 60% interest in its 402-sq.-km Waterbury Lake uranium project seems to fit the bill, with 13 million indicated and inferred lb. uranium resources. As part of the transaction, Fission shareholders will receive 0.355 of a Denison share and one share of a new spin-out company for each share held. The offer represents a 49% premium to Fission’s Jan. 15 close and a 42% premium to the 20-day, volume-weighted average price. If the deal is closed, Fission shareholders would own 11% of the Toronto-based firm.
Vancouver-based Great Quest Metals found out how socio-political events can trigger a share-price rally, after news of French troops stepping up their presence in the troubled African nation of Mali saw the company’s shares jump 28¢, en route to a 97¢ weekly close. CEO Joel Jeangrand states that the developments “signal a turn in the geopolitical crisis that has affected the country for the past ten months.” In mid-December Great Quest released a preliminary economic assessment on its 1,206 sq. km Tilemsi phosphate project — located in Mali — that demonstrated a US$649-million net present value and a 34% internal rate of return at a 10% discount rate. The US$143-million project would produce 1.18 million tonnes of fertilizer products annually over a 20-year mine life.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Fission Energy | FIS | 20284 | 0.78 | 0.56 | 0.76 | + | 0.21 |
| RPT Uranium | RPT | 19245 | 0.02 | 0.01 | 0.01 | 0 | |
| Cantex Mn Dev | CD | 11942 | 0.03 | 0.01 | 0.02 | – | 0.01 |
| Kivalliq Enrgy | KIV | 9278 | 0.46 | 0.36 | 0.39 | + | 0.03 |
| Canaco Res | CAN | 9058 | 0.45 | 0.38 | 0.43 | + | 0.04 |
| Metals Ck Res | MEK | 7726 | 0.07 | 0.05 | 0.06 | + | 0.01 |
| Conway Res | CWY | 7677 | 0.01 | 0.01 | 0.01 | – | 0.01 |
| Malbex Res | MBG | 6546 | 0.14 | 0.1 | 0.1 | 0 | |
| Unigold | UGD | 6280 | 0.42 | 0.34 | 0.4 | + | 0.04 |
| Apogee Silver | APE | 5511 | 0.09 | 0.08 | 0.08 | – | 0.01 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Nevada Geo Pow | NGP | 1480 | 0.02 | 0.01 | 0.02 | + | 300 |
| Supreme Res | SPR | 472 | 0.02 | 0.01 | 0.02 | + | 200 |
| Reva Res | RVA | 23 | 0.07 | 0.07 | 0.07 | + | 100 |
| Endurance Gold | EDG | 92 | 0.05 | 0.04 | 0.05 | + | 100 |
| Abitex Res | ABE | 1208 | 0.02 | 0.01 | 0.01 | + | 100 |
| Santa Fe Metls | SFM | 928 | 0.03 | 0.02 | 0.02 | + | 100 |
| Arcturus Res | AZN | 3741 | 0.01 | 0.01 | 0.01 | + | 100 |
| Midlands Minls | MEX | 127 | 0.01 | 0.01 | 0.01 | + | 100 |
| Cassius Vent | CZ | 125 | 0.1 | 0.05 | 0.1 | + | 100 |
| Unity Energy | UTY | 108 | 0.09 | 0.08 | 0.09 | + | 80 |
| Kenieba Goldf | KEN | 31 | 0.02 | 0.01 | 0.01 | – | 50 |
| Copper Ck Gold | CPV | 200 | 0.01 | 0.01 | 0.01 | – | 50 |
| Infinito Gold | IG | 3250 | 0.04 | 0.02 | 0.02 | – | 50 |
| Bell Copper | BCU | 137 | 0.01 | 0.01 | 0.01 | – | 50 |
| Conway Res | CWY | 7677 | 0.01 | 0.01 | 0.01 | – | 50 |
| Silver Shield | SSR | 150 | 0.01 | 0.01 | 0.01 | – | 50 |
| Global Hunter | BOB | 3038 | 0.02 | 0.01 | 0.01 | – | 50 |
| Duncan Park H | DPH | 334 | 0.02 | 0.01 | 0.01 | – | 50 |
| Gold World Res | GDW | 15 | 0.01 | 0.01 | 0.01 | – | 50 |
| Simba Gold | SGD | 413 | 0.05 | 0.03 | 0.03 | – | 45.4 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Chesapeake Gld | CKG | 367744 | 10.09 | + | 0.86 |
| Great Quest Me | GQ | 635345 | 0.97 | + | 0.28 |
| Pac Booker Min | BKM | 38267 | 5.6 | + | 0.24 |
| Northern Graph | NGC | 2122519 | 1.36 | + | 0.22 |
| Fission Energy | FIS | 20283746 | 0.76 | + | 0.21 |
| D Arianne Res | DAN | 1200728 | 1.29 | + | 0.17 |
| Tasman Metals | TSM | 451532 | 1.27 | + | 0.17 |
| EurOmax Res | EOX | 13234 | 0.69 | + | 0.15 |
| Sona Res | SYS | 17553 | 0.43 | + | 0.12 |
| Esperanza Res | EPZ | 600042 | 1.4 | + | 0.12 |
| Lumina Copper | LCC | 211722 | 9.55 | – | 0.4 |
| Maudore Minls | MAO | 56479 | 1.35 | – | 0.22 |
| Afferro Mng | AFF | 89850 | 1.37 | – | 0.19 |
| Atac Res | ATC | 602281 | 1.65 | – | 0.18 |
| Archon Mineral | ACS | 18900 | 0.66 | – | 0.18 |
| Huldra Silver | HDA | 582033 | 1.18 | – | 0.16 |
| Prophecy Plat | NKL | 2074377 | 1.01 | – | 0.12 |
| GoldQuest Mng | GQC | 1724614 | 0.57 | – | 0.11 |
| Mineral Mtn Rs | MMV | 1077030 | 0.27 | – | 0.11 |
| Ascot Res | AOT | 165690 | 1.35 | – | 0.1 |
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