The S&P/TSX Venture Composite Index returned to positive territory during the shortened trading week. It registered a gain of 1.7%, or 15.6 points, and closed at 954.92 points — its highest valuation since early July. Markets maintained gains despite declining precious and base-metal futures, as well as disappointing U.S. jobs data.
Gold futures pared early week gains to finish in the red for a second straight week, as December contracts for gold bullion lost US$2 before closing at US$1,391.70 per oz. December contracts for copper fell 1.4%, or US4.7¢, en route to a US$3.26 per lb. close.
Volatile equity and metal markets have taken a toll on Vancouver-based junior Donner Metals. The company closed the week at 1¢ per share on 12 million shares traded after it had to forfeit a 35% interest in Glencore Xstrata’s Bracemac-McLeod zinc-copper mine in Quebec’s Matagami camp. Donner had been trying to scrape together a $4.3-million payment owed to Glencore, but only raised $3 million.
Missing the payment also put Donner in default of a metal-purchase agreement signed with Sandstorm Gold in 2011. Sandstorm assumed Donner’s interest in the mining operation, though the company exchanged its newly acquired stake for a 3% net smelter return royalty on all production at Bracemac-McLeod.
Arctic explorer Kennady Diamonds took a big step back during the week — putting an end to a sustained rally that saw the company jump to all-time highs over the past month. Kennady led the value-lost category with a $1.21 drop before it closed out the trading period at $4.99 per share.
On Sept. 3 the company released results from the last two stepout holes on strike and northwest of its main Kelvin kimberlite. Kennady intersected kimberlite in 14 of 15 holes collared during the program, with its latest results including 22.8 metres of kimberlite from 180 metres depth in hole 13-044, and 29 metres of kimberlite from 105 metres depth in hole 13-045. The company reported that “these holes define the northwest limit of the Kelvin kimberlite emplacement.”
Joint-venture partners Fission Uranium and Alpha Minerals agreed to a $185-million, all-share deal that would see Fission take over Alpha’s 50% stake in the Patterson Lake South uranium project in southern Saskatchewan. According to the deal, Alpha shareholders would get 5.725 shares of Fission for each share held, which represents a 14.5% premium on Aug. 23, compared to an initial 11% premium under a takeover offer Fission made on Aug. 26.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Fission Uran | FCU | 16659 | 1.39 | 1.22 | 1.24 | – | 0.1 |
| Donner Metals | DON | 12130 | 0.02 | 0.01 | 0.01 | – | 0.02 |
| Matamec Expl | MAT | 10635 | 0.26 | 0.15 | 0.15 | – | 0.06 |
| Habanero Res | HAO | 7182 | 0.02 | 0.02 | 0.02 | 0 | |
| Canada Carbon | CCB | 5768 | 0.28 | 0.16 | 0.27 | + | 0.11 |
| Unigold | UGD | 4933 | 0.09 | 0.07 | 0.08 | 0 | |
| Caribou King R | CKR | 4414 | 0.06 | 0.04 | 0.06 | + | 0.02 |
| Graphite One R | GPH | 4324 | 0.14 | 0.13 | 0.14 | 0 | |
| Metanor Res | MTO | 4221 | 0.21 | 0.18 | 0.21 | + | 0.01 |
| Pelangio Expl | PX | 4006 | 0.1 | 0.09 | 0.09 | – | 0.01 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Goldstar Mnls | GDM | 25 | 0.15 | 0.09 | 0.15 | + | 2899.9 |
| Red Mile Mnls | RDM | 312 | 0.03 | 0.01 | 0.03 | + | 500 |
| Prominex Res | PXR | 337 | 0.04 | 0.02 | 0.04 | + | 250 |
| Abington Res | ABL | 52 | 0.12 | 0.06 | 0.12 | + | 140 |
| Green Swan Cap | GSW | 360 | 0.12 | 0.03 | 0.12 | + | 140 |
| Iconic Mnls | ICM | 203 | 0.05 | 0.02 | 0.05 | + | 125 |
| New Dimen Res | NDR | 615 | 0.03 | 0.02 | 0.03 | + | 100 |
| Granite Ck Gld | GCX | 13 | 0.09 | 0.08 | 0.09 | + | 100 |
| Lounor Expl | LO | 552 | 0.01 | 0.01 | 0.01 | + | 100 |
| Greenock Res | GKR | 78 | 0.01 | 0.01 | 0.01 | + | 100 |
| Donner Metals | DON | 12130 | 0.02 | 0.01 | 0.01 | – | 80 |
| Iron South Mng | IS | 44 | 0.02 | 0.02 | 0.02 | – | 62.5 |
| Fire River Gol | FAU | 272 | 0.01 | 0.01 | 0.01 | – | 50 |
| Menika Mining | MML | 15 | 0.01 | 0.01 | 0.01 | – | 50 |
| Canadn Arrow | CRO | 1311 | 0.02 | 0.01 | 0.01 | – | 50 |
| Next Gen Mtls | N | 235 | 0.01 | 0.01 | 0.01 | – | 50 |
| Corazon Gold | CGW | 531 | 0.01 | 0.01 | 0.01 | – | 50 |
| Hudson River M | HRM | 22 | 0.01 | 0.01 | 0.01 | – | 50 |
| Northern Abiti | NAI | 50 | 0.01 | 0.01 | 0.01 | – | 50 |
| Troymet Expl | TYE | 117 | 0.01 | 0.01 | 0.01 | – | 50 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Lumina Copper | LCC | 113769 | 4.22 | + | 0.25 |
| Astur Gold | AST | 402000 | 0.55 | + | 0.17 |
| Cordoba Mnls | CDB | 976791 | 0.75 | + | 0.16 |
| Avino Silver | ASM | 88896 | 1.62 | + | 0.15 |
| Goldstar Mnls | GDM | 24600 | 0.15 | + | 0.15 |
| Banks Island G | BOZ | 307355 | 0.82 | + | 0.13 |
| Ascot Res | AOT | 92455 | 0.97 | + | 0.12 |
| Bullman Mnls | BUL | 430000 | 0.32 | + | 0.12 |
| Canada Carbon | CCB | 5768246 | 0.27 | + | 0.11 |
| Cayden Res | CYD | 469027 | 1.55 | + | 0.11 |
| Kennady Diam | KDI | 243252 | 4.99 | – | 1.21 |
| Reservoir Mnls | RMC | 126284 | 4.15 | – | 0.2 |
| Alpha Mnls | AMW | 1696365 | 6.73 | – | 0.18 |
| Newstrike Cap | NES | 154215 | 0.88 | – | 0.15 |
| Zenyatta Vent | ZEN | 1175118 | 3.78 | – | 0.13 |
| Gold Reach Res | GRV | 39303 | 1.19 | – | 0.11 |
| Timberline Res | TBR | 45900 | 0.21 | – | 0.1 |
| Gold Std Vnt | GSV | 141965 | 0.6 | – | 0.1 |
| Fission Uran | FCU | 16658860 | 1.24 | – | 0.1 |
| Colorado Res | CXO | 1302517 | 0.35 | – | 0.09 |
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