The S&P/TSX Venture Composite Index registered modest gains throughout the trading week, jumping 6.76 points before closing the week at 952.86.
Market gains were underpinned by rising base and precious metal futures despite a decline in crude oil prices and uncertainty surrounding ongoing debt and budget negotiations in the U.S. Congress.
December contracts for gold bullion jumped US$10.80 during the trading period before finishing the week at US$1,336.90 per oz. Copper futures were also on the rise, with December contracts for the red metal up US3.1¢ en route to a US$3.32 per lb. weekly close.
Crude oil continued its decline for a third straight week, as November contracts for West Texas Intermediate dropped 1.6%, or US$1.69, before closing out at US$102.84 per barrel.
Peruvian-focused junior Bear Creek Mining led the value-added category during the week following good news out of its wholly owned Corani silver-lead-zinc project, 160 km southeast of Cusco. Shares jumped 37¢ before closing at $2.22. On Sept. 25 the company announced that Peru’s Ministry of Energy and Mines had approved Corani’s environmental and social impact assessment, paving the way for development at the project. Bear Creek completed Corani’s public hearings in April, which culminated in a life-of-mine investment agreement with the Carabaya district, as well as five surrounding communities: Corani, Chacaconiza, Quelcaya, Isivilla and Aymana.
Strong drill results are generating market momentum for joint-venture partners Fission Uranium and Alpha Minerals at the Patterson Lake South project in the Athabasca basin. Alpha jumped 33¢ the week before and closed at $7.16 per share, while Fission was up 11¢ en route to a $1.34-per-share close. The companies began the week by announcing that they had discovered a fifth high-grade uranium mineralization zone at PLS. Hole 13-098 — the first target on Line 585E — intersected 76 metres of total composite mineralization, including 7.6 metres of total composite off-scale radioactivity. The new R585E zone is located halfway between PLS’ R390E and R780E zones. On Sept. 25 the companies released assay results from hole 13-072, which cut 34 metres grading 8.15% uranium oxide at R390E. With a new strike length of 255 metres, R390E has quadrupled in length during the latest program at PLS.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Donner Metals | DON | 13997 | 0.01 | 0.01 | 0.01 | 0 | |
| Fission Uran | FCU | 8946 | 1.38 | 1.24 | 1.34 | + | 0.11 |
| Graphite One R | GPH | 6887 | 0.2 | 0.16 | 0.17 | + | 0.01 |
| Caribou King R | CKR | 4924 | 0.09 | 0.07 | 0.09 | + | 0.01 |
| Canada Carbon | CCB | 4917 | 0.37 | 0.26 | 0.27 | – | 0.08 |
| Mindoro Res | MIO | 4499 | 0.03 | 0.02 | 0.03 | + | 0.01 |
| Encanto Potash | EPO | 4494 | 0.24 | 0.19 | 0.21 | + | 0.03 |
| Pac Coal Res | PAK | 4353 | 0.45 | 0.3 | 0.3 | – | 0.15 |
| KWG Res | KWG | 3925 | 0.06 | 0.05 | 0.06 | 0 | |
| Kilo Goldmines | KGL | 3761 | 0.03 | 0.03 | 0.03 | – | 0.01 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Nikos Expl | NIK | 475 | 0.03 | 0.02 | 0.03 | + | 400 |
| Northcore Res | NCR | 711 | 0.01 | 0.01 | 0.01 | + | 100 |
| Greenock Res | GKR | 128 | 0.01 | 0.01 | 0.01 | + | 100 |
| Northern Abiti | NAI | 54 | 0.01 | 0.01 | 0.01 | + | 100 |
| Highpointe Exp | HIP | 283 | 0.03 | 0.02 | 0.02 | + | 100 |
| Playfair Mng | PLY | 50 | 0.01 | 0.01 | 0.01 | + | 100 |
| Phoenix Copper | PHC | 1106 | 0.03 | 0.02 | 0.03 | + | 100 |
| Augyva Mng | AUV | 707 | 0.14 | 0.08 | 0.14 | + | 80 |
| Vantex Res | VAX | 1463 | 0.1 | 0.05 | 0.08 | + | 77.7 |
| Peat Res | PET | 561 | 0.04 | 0.02 | 0.04 | + | 75 |
| Deer Horn Mtls | DHM | 436 | 0.01 | 0.01 | 0.01 | – | 50 |
| Celeste Copper | C | 64 | 0.01 | 0.01 | 0.01 | – | 50 |
| Asia Now Res | NOW | 157 | 0.04 | 0.03 | 0.03 | – | 50 |
| Knick Expl | KNX | 138 | 0.04 | 0.02 | 0.02 | – | 50 |
| Ditem Explor | DIT | 84 | 0.01 | 0.01 | 0.01 | – | 50 |
| Dorato Res | DRI | 515 | 0.01 | 0.01 | 0.01 | – | 50 |
| Cascade Res | CC | 408 | 0.01 | 0.01 | 0.01 | – | 50 |
| Amanta Res | AMH | 77 | 0.01 | 0.01 | 0.01 | – | 50 |
| El Condor Mnls | LCO | 233 | 0.01 | 0.01 | 0.01 | – | 50 |
| Cream Mnrls | CMA | 125 | 0.01 | 0.01 | 0.01 | – | 50 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Bear Creek Mng | BCM | 456981 | 2.22 | + | 0.37 |
| Alpha Mnls | AMW | 841075 | 7.16 | + | 0.33 |
| Terrax Minls | TXR | 1380270 | 0.64 | + | 0.2 |
| Gold Reserve | GRZ | 60105 | 3.37 | + | 0.17 |
| Tasman Metals | TSM | 604677 | 0.9 | + | 0.14 |
| Lumina Copper | LCC | 124369 | 5.05 | + | 0.13 |
| Fission Uran | FCU | 8946158 | 1.34 | + | 0.11 |
| Tsodilo Res | TSD | 23500 | 0.81 | + | 0.1 |
| West High Yld | WHY | 41625 | 0.5 | + | 0.1 |
| Ascot Res | AOT | 23200 | 1.04 | + | 0.09 |
| Chesapeake Gld | CKG | 86545 | 3.29 | – | 0.61 |
| Zenyatta Vent | ZEN | 1956483 | 3.27 | – | 0.45 |
| Avino Silver | ASM | 89991 | 1.21 | – | 0.38 |
| Pac Coal Res | PAK | 4353474 | 0.3 | – | 0.15 |
| Callinan Royal | CAA | 169664 | 1.6 | – | 0.15 |
| Gold Reach Res | GRV | 42670 | 1 | – | 0.12 |
| Midland Expl | MD | 18625 | 0.85 | – | 0.12 |
| Arian Silver | AGQ | 12728 | 0.8 | – | 0.12 |
| Aurcana Corp | AUN | 569829 | 2.09 | – | 0.11 |
| IMPACT Silver | IPT | 256445 | 0.72 | – | 0.1 |
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