The S&P/TSX Venture Composite Index returned to the black during the week, as it posted a 1.7%, or 17.6-point gain, en route to a 1,043.01-point weekly close. The political turmoil in the Ukraine is fuelling market volatility, with commodity futures struggling to gain traction. Markets were buoyed late in the week by positive jobs data out of the U.S.
Gold futures struggled early before a late-week rally saw April contracts for bullion close relatively flat at US$1,340.20 per oz. May contracts for copper hit a four-week low during weekly trading before closing down US10.5¢ at US$3.08 per lb.
Explorer Laurentian Goldfields was the week’s big winner, as the company led both the value-added and percentage-gain categories with a 480%, or 36¢ jump, en route to a 44¢-per-share close. On March 4 Laurentian announced a substantial financing along with the completion of its acquisition of the Madsen gold project in the Red Lake camp in northwestern Ontario. The company closed a private placement wherein it issued 74 million shares at 25¢ per share for gross proceeds of $18.6 million.
The financing will allow Laurentian to expedite payment on its Madison acquisition from Claude Resources, with $6.3 million paid to date. In mid-January the company announced a letter of intent with Sabina Gold & Silver that will see it consolidate a 50 sq. km property along the 12 km Madison mine trend.
Saskatchewan-focused Fission Uranium had another busy week, with the company releasing results from a drill program at its Patterson Lake South discovery in the Athabasca basin. Fission was a top performer in the trade-volume category, with 18.2 million of the company’s shares trading hands, as it gained 18¢ en route to a $1.59-per-share close.
On March 5 Fission announced it had connected its 780E and 945E zones, and extended the new, joined zone eastward with a high-grade hit. Fission labelled the entire area zone 780E. At the zone’s eastern end, hole 158 cut 86 metres of mineralization in a 205-metre section, including 11 metres of off-scale radioactivity.
Flinders Resources jumped by 24¢ on 2.5 million shares traded before closing the week at 62¢ per share. On March 3 the company provided an update on its past-producing Woxna graphite mine in Sweden, which has been on care and maintenance since 2001. The company is placing orders for items such as vertical regrind mills and process-control hardware. Product-handling systems are nearly refurbished. The refurbished plant equipment will help the project reach production by July 2014.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| RPT Uranium | RPT | 19067 | 0.02 | 0.01 | 0.02 | + | 0.01 |
| Midlands Minls | MEX | 18756 | 0.03 | 0.01 | 0.03 | + | 0.02 |
| Fission Uran | FCU | 18178 | 1.59 | 1.36 | 1.59 | + | 0.18 |
| Graphite One R | GPH | 13003 | 0.22 | 0.15 | 0.21 | + | 0.05 |
| True Gold Mng | TGM | 7989 | 0.44 | 0.39 | 0.41 | + | 0.03 |
| Klondike Gold | KG | 7152 | 0.03 | 0.02 | 0.02 | – | 0.01 |
| Roxgold | ROG | 6641 | 0.74 | 0.6 | 0.67 | + | 0.05 |
| Lomiko Mtls | LMR | 6452 | 0.14 | 0.11 | 0.12 | – | 0.02 |
| Anglo Swiss | ASW | 6310 | 0.03 | 0.01 | 0.02 | + | 0.01 |
| Alphamin Res | AFM | 6277 | 0.42 | 0.35 | 0.37 | – | 0.02 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Laurentian Glf | LGF | 485 | 0.49 | 0.35 | 0.44 | + | 480 |
| Jiminex | JIM | 809 | 0.04 | 0.02 | 0.02 | + | 300 |
| Crown Gold | CWM | 3962 | 0.03 | 0.01 | 0.02 | + | 300 |
| Guyana Frntr M | GYG | 396 | 0.02 | 0.01 | 0.02 | + | 200 |
| Advance Gold | AAX | 754 | 0.04 | 0.01 | 0.03 | + | 200 |
| Supreme Res | SPR | 995 | 0.02 | 0.01 | 0.02 | + | 200 |
| Midlands Minls | MEX | 18756 | 0.03 | 0.01 | 0.03 | + | 150 |
| Glenmark Cap | GLM | 321 | 0.27 | 0.12 | 0.27 | + | 125 |
| Signal Expl | SNL | 15 | 0.05 | 0.05 | 0.05 | + | 125 |
| Eastern Merid | EME | 57 | 0.03 | 0.03 | 0.03 | + | 100 |
| Corazon Gold | CGW | 2157 | 0.01 | 0.01 | 0.01 | – | 50 |
| Canadn Plat | CPC | 16 | 0.01 | 0.01 | 0.01 | – | 50 |
| Cascade Res | CC | 43 | 0.01 | 0.01 | 0.01 | – | 50 |
| Gem Intl Res | GI | 260 | 0.01 | 0.01 | 0.01 | – | 50 |
| Amerix Pr Mtls | APM | 10 | 0.01 | 0.01 | 0.01 | – | 50 |
| Fieldex Expl | FLX | 850 | 0.01 | 0.01 | 0.01 | – | 50 |
| Gitennes Expl | GIT | 24 | 0.02 | 0.01 | 0.01 | – | 50 |
| Green Valley M | GVY | 27 | 0.01 | 0.01 | 0.01 | – | 50 |
| Regent Vents | REV | 165 | 0.01 | 0.01 | 0.01 | – | 50 |
| Bonterra Res | BTR | 948 | 0.01 | 0.01 | 0.01 | – | 50 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Laurentian Glf | LGF | 484780 | 0.44 | + | 0.36 |
| Bear Creek Mng | BCM | 423860 | 2.3 | + | 0.32 |
| Zenyatta Vent | ZEN | 810110 | 2.74 | + | 0.3 |
| Tasman Metals | TSM | 473076 | 1.42 | + | 0.24 |
| Flinders Res | FDR | 2527584 | 0.62 | + | 0.24 |
| Tsodilo Res | TSD | 81379 | 1.76 | + | 0.22 |
| Atac Res | ATC | 1634494 | 1.54 | + | 0.21 |
| Terrax Minls | TXR | 399582 | 0.75 | + | 0.2 |
| Fission Uran | FCU | 18178464 | 1.59 | + | 0.18 |
| Glenmark Cap | GLM | 320997 | 0.27 | + | 0.15 |
| Reservoir Mnls | RMC | 240825 | 7.17 | – | 0.22 |
| Gold Reserve | GRZ | 27180 | 3.39 | – | 0.21 |
| Great Quest Me | GQ | 283427 | 1.95 | – | 0.17 |
| Aurcana Corp | AUN | 1328387 | 1.12 | – | 0.13 |
| Arian Silver | AGQ | 28400 | 0.87 | – | 0.13 |
| Lumina Copper | LCC | 80406 | 5.25 | – | 0.11 |
| Cortez Gold | CUT | 21710 | 0.45 | – | 0.11 |
| Santacruz Silv | SCZ | 795503 | 1.01 | – | 0.1 |
| Falco Pac Res | FPC | 1660272 | 0.72 | – | 0.09 |
| Zimtu Capital | ZC | 39783 | 0.42 | – | 0.08 |
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