The S&P/TSX Venture Composite Index jumped 2.5%, or 25.31 points, en route to a 1,021.66-point close for the week. The Venture closed in the green for 11 straight trading days as it broke the 1,000-point barrier for the first time in nearly a year. Markets were driven by positive global economic data, with U.S. factory activity growing by its fastest pace in nearly four years and Japan announcing its intention to extend its extensive stimulus package.
Gold futures had a mixed week, as April contracts for bullion started strong before losing steam and closing down US$4.30 at US$1,324.20 per oz. May contracts for copper closed relatively flat at US$3.29 per lb.
Project generator Reservoir Minerals led the value-added category during the week after a substantial capital raise. The company closed up 66¢ on 613,000 shares traded at $6.90. On Feb. 20 Reservoir said it was planning to complete placements worth gross proceeds of $33 million.
The company intends on completing a non-brokered private placement for proceeds of $23 million, along with a brokered private placement worth $10 million with a syndicate of underwriters led by Scotiabank.
Reservoir says the funds will fund exploration at its Timok copper joint-venture in Serbia with Freeport-McMoRan Copper & Gold. The partners are delineating a resource on a porphyry body that lies northeast of the main Cukaru Peki deposit, which hosts 65.3 million inferred tonnes grading 2.6% copper and 1.5 grams gold per tonne.
Great Quest Metals finished a close second in value-added with a 57¢ gain on 613,300 shares traded en route to a $2.43 close. On Feb. 18 the company released quantitative results from product trials on direct application fertilizer from its flagship Tilemsi phosphate project in eastern Mali, West Africa. The company reported that the results show direct application fertilizer is an effective replacement for costly imported chemical phosphate across the full range of crops and regions of Mali.
Fission Uranium was by far the week’s most actively traded company, with 20.5 million shares trading hands, resulting in a 9¢ gain en route to a $1.28-per-share close. On Feb. 19 Fission released assay results from hole 14-129 at its Patterson Lake South (PLS) uranium project in Saskatchewan’s Athabasca basin. The hole was collared at PLS’ R585E zone, and “returned a number of wide and particularly high-grade intervals in 100 metres of total composite mineralization.” Results include: 38.49% U3O8 over 10.5 metres within 13.66% U3O8 over 38 metres; and 27.57% U3O8 over 12 metres within 11.19% U3O8 over 31.5 metres. Reported intercepts run from depths of 56 metres to 167 metres.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Fission Uran | FCU | 20577 | 1.33 | 1.19 | 1.28 | + | 0.09 |
| MacDonald Mns | BMK | 15913 | 0.02 | 0.01 | 0.01 | 0 | |
| Taipan Res | TPN | 10252 | 0.66 | 0.39 | 0.56 | + | 0.18 |
| Sacre-Coeur Ml | SCM | 8391 | 0.07 | 0.04 | 0.05 | – | 0.01 |
| Revolver Res | RZ | 7975 | 0.09 | 0.02 | 0.02 | – | 0.08 |
| Chalice Diam | COD | 6895 | 0.03 | 0.03 | 0.03 | – | 0.01 |
| Thelon Cap | THC | 6871 | 0.03 | 0.01 | 0.02 | + | 0.01 |
| Geomega Res | GMA | 5269 | 0.69 | 0.39 | 0.69 | + | 0.31 |
| Troymet Expl | TYE | 4917 | 0.01 | 0.01 | 0.01 | 0 | |
| IBC Adv Alloys | IB | 4830 | 0.27 | 0.2 | 0.22 | + | 0.05 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Goldspike Expl | GSE | 50 | 0.05 | 0.05 | 0.05 | + | 150 |
| Next Gen Mtls | N | 1199 | 0.03 | 0.02 | 0.03 | + | 100 |
| Auracle Res | AAL | 512 | 0.02 | 0.02 | 0.02 | + | 100 |
| Burnstone Vent | BVE | 202 | 0.05 | 0.03 | 0.04 | + | 100 |
| Firebird Res | FIX | 52 | 0.02 | 0.02 | 0.02 | + | 100 |
| Amerix Pr Mtls | APM | 64 | 0.01 | 0.01 | 0.01 | + | 100 |
| Platinex | PTX | 198 | 0.02 | 0.02 | 0.02 | + | 100 |
| Matnic Res | MIK | 59 | 0.07 | 0.04 | 0.07 | + | 100 |
| Pac Bay Mnrls | PBM | 60 | 0.03 | 0.03 | 0.03 | + | 100 |
| Tosca Mng | TSQ | 165 | 0.11 | 0.07 | 0.11 | + | 90.9 |
| Revolver Res | RZ | 7975 | 0.09 | 0.02 | 0.02 | – | 78.9 |
| Compass Gold | CVB | 1547 | 0.01 | 0.01 | 0.01 | – | 75 |
| Viking Gold | VGC | 197 | 0.02 | 0.02 | 0.02 | – | 50 |
| Goldex Res | GDX | 1050 | 0.01 | 0.01 | 0.01 | – | 50 |
| MacMillan Mnls | MMX | 57 | 0.01 | 0.01 | 0.01 | – | 50 |
| Midasco Cap | MGC | 2231 | 0.01 | 0.01 | 0.01 | – | 50 |
| Frontline Gold | FGC | 13 | 0.01 | 0.01 | 0.01 | – | 50 |
| Quia Res | QIA | 445 | 0.01 | 0.01 | 0.01 | – | 50 |
| Regent Vents | REV | 10 | 0.01 | 0.01 | 0.01 | – | 50 |
| Baroyeca Go&Si | BGS | 104 | 0.01 | 0.01 | 0.01 | – | 50 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Reservoir Mnls | RMC | 613317 | 6.9 | + | 0.66 |
| Great Quest Me | GQ | 453019 | 2.43 | + | 0.57 |
| Tsodilo Res | TSD | 43510 | 1.59 | + | 0.35 |
| Geomega Res | GMA | 5269399 | 0.69 | + | 0.31 |
| Almonty Ind | AII | 65498 | 0.95 | + | 0.21 |
| Brazil Res | BRI | 1968880 | 1.1 | + | 0.2 |
| Gresham Res | GRC | 270100 | 0.5 | + | 0.19 |
| Taipan Res | TPN | 10252207 | 0.56 | + | 0.18 |
| Avino Silver | ASM | 1788316 | 2.63 | + | 0.18 |
| Bear Creek Mng | BCM | 984459 | 2.05 | + | 0.12 |
| Gold Reserve | GRZ | 23497 | 3.62 | – | 0.18 |
| SilverCrest Mn | SVL | 3341387 | 2.66 | – | 0.18 |
| Probe Mines | PRB | 995861 | 3.13 | – | 0.12 |
| Transition Mtl | XTM | 20500 | 0.23 | – | 0.11 |
| Arianne Phosph | DAN | 746550 | 1.2 | – | 0.1 |
| Atacama Pac Gd | ATM | 28910 | 0.86 | – | 0.09 |
| Canada Zinc Mt | CZX | 356325 | 0.48 | – | 0.09 |
| Kaminak Gold | KAM | 992267 | 0.88 | – | 0.09 |
| Highland Res | HI | 157500 | 0.5 | – | 0.08 |
| Revolver Res | RZ | 7975354 | 0.02 | – | 0.08 |
Be the first to comment on "TSX Venture carries momentum, Feb. 18-21"