The S&P/TSX Venture Composite Index closed up 1.12 points during the trading sessions at 1,034.76. Concern surrounding Chinese economic growth depressed base-metal prices, while precious metal futures also lost ground. Markets took a break after the tense referendum vote in Crimea, while the U.S. Conference Board’s leading indicator index of future economic performance increased by the largest amount in three months.
Gold futures hit a three-week low, with June contracts for bullion dropping 3.7% or US$51.70, en route to a US$1,335.30 per oz. close. May contracts for copper remained unchanged at US$2.95 per lb.
Shares in uranium explorer International Enexco shot up 16¢ on news of an all-share bid from uranium outfit Denison Mines. Enexco shareholders would receive 0.26 of a Denison share for each share held, which values Enexco’s uranium assets at US$16 million. Enexco shares closed out the week at 53¢ per share on 746,000 shares traded. Enexco’s uranium portfolio includes a 30% interest in the Mann Lake exploration project, and a 20% interest in the Bachman Lake joint venture.
Enexco signed a related, secondary agreement with Full Metal Minerals and Choice Gold, whereby Enexco would spin out its Contact copper project in Elko County, Nev. into Choice, while Full Metal would move its Pyramid copper project on the Alaska Peninsula into the new vehicle.
Explorer Huakan International Mining led the value-added category during the week with a 283%, or 34¢ gain, en route to a 46¢ close on 94,500 shares traded. On March 17 Huakan said it would go private under the ownership of Hong Kong Huakan Investment, Sun Luck Asia Investment and Power Best Resources. The acquirers would pay 50¢ per share in cash, which values Huakan at US$1.6 million — or a 294% premium — on a 20-day, volume-weighted average share price. Huakan’s portfolio is highlighted by three polymetallic properties in B.C.
Nevada Sunrise Gold rose 16¢ on 762,550 shares traded before closing at $1 per share after financing news. The company has enjoyed positive market momentum due to drill results from its Kinsley Mountain joint venture in Nevada, where it holds a 21% interest alongside operator Pilot Gold. Nevada Sunrise has just closed a US$1.05-million non-brokered private placement, wherein it placed 3 million units for 35¢ each.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Terra Firma Rs | TFR | 34247 | 0.04 | 0.02 | 0.04 | + | 0.02 |
| Satori Res | BUD | 25734 | 0.17 | 0.08 | 0.15 | + | 0.04 |
| Thelon Cap | THC | 13410 | 0.17 | 0.07 | 0.16 | + | 0.07 |
| Fission Uran | FCU | 6375 | 1.65 | 1.54 | 1.61 | + | 0.02 |
| Aurcana Corp | AUN | 6129 | 1.08 | 0.9 | 0.9 | – | 0.15 |
| Full Metal Mnl | FMM | 5959 | 0.04 | 0.02 | 0.03 | + | 0.01 |
| Metanor Res | MTO | 5779 | 0.27 | 0.2 | 0.2 | – | 0.06 |
| EPM Mng Vent | EPK | 5348 | 0.2 | 0.11 | 0.19 | + | 0.08 |
| Kilo Goldmines | KGL | 5092 | 0.03 | 0.02 | 0.02 | – | 0.01 |
| Robex Res | RBX | 4792 | 0.25 | 0.23 | 0.24 | + | 0.01 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Reservoir Capt | REO | 89 | 0.18 | 0.12 | 0.18 | + | 1650 |
| Red Rock Enrgy | RRK | 3520 | 0.03 | 0.01 | 0.03 | + | 400 |
| Huakan Intl Mg | HK | 95 | 0.48 | 0.41 | 0.46 | + | 283.3 |
| Huntington Exp | HEI | 347 | 0.04 | 0.02 | 0.04 | + | 250 |
| Reliant Gold | REC | 4001 | 0.09 | 0.05 | 0.06 | + | 140 |
| Terra Firma Rs | TFR | 34247 | 0.04 | 0.02 | 0.04 | + | 133.3 |
| Regent Vents | REV | 50 | 0.01 | 0.01 | 0.01 | + | 100 |
| Open Gold | OPG | 242 | 0.03 | 0.02 | 0.03 | + | 100 |
| Glass Earth | GEL | 1324 | 0.01 | 0.01 | 0.01 | + | 100 |
| Amanta Res | AMH | 32 | 0.01 | 0.01 | 0.01 | + | 100 |
| Tanqueray Expl | TQY | 17 | 0.03 | 0.02 | 0.02 | – | 55.5 |
| Northern Abiti | NAI | 167 | 0.01 | 0.01 | 0.01 | – | 50 |
| NWM Mng | NWM | 391 | 0.01 | 0.01 | 0.01 | – | 50 |
| Randsburg Intl | RGZ | 51 | 0.01 | 0.01 | 0.01 | – | 50 |
| Monster Mng | MAN | 46 | 0.02 | 0.01 | 0.01 | – | 50 |
| BE Res | BER | 48 | 0.16 | 0.1 | 0.11 | – | 44.7 |
| Atlanta Gold | ATG | 1879 | 0.04 | 0.03 | 0.03 | – | 44.4 |
| Zinco Mng | ZIM | 94 | 0.05 | 0.04 | 0.04 | – | 42.8 |
| Nitinat Mnls | NZZ | 3808 | 0.03 | 0.01 | 0.02 | – | 40 |
| Camino Mnls | COR | 2646 | 0.02 | 0.02 | 0.02 | – | 40 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Huakan Intl Mg | HK | 94515 | 0.46 | + | 0.34 |
| Gold Reserve | GRZ | 17254 | 3.83 | + | 0.3 |
| Tasman Metals | TSM | 697419 | 2.02 | + | 0.25 |
| Reservoir Capt | REO | 88626 | 0.18 | + | 0.17 |
| Intl Enexco | IEC | 746050 | 0.53 | + | 0.16 |
| Nevada Sunrise | NEV | 762552 | 1 | + | 0.15 |
| Newstrike Cap | NES | 576023 | 1.15 | + | 0.15 |
| Titanium Corp | TIC | 360915 | 0.8 | + | 0.15 |
| Selwyn Res | SWN | 10671 | 2 | + | 0.15 |
| Karmin Expl | KAR | 283245 | 0.48 | + | 0.13 |
| Reservoir Mnls | RMC | 246387 | 6.8 | – | 0.63 |
| Tsodilo Res | TSD | 37002 | 1.25 | – | 0.5 |
| Chesapeake Gld | CKG | 183775 | 3.32 | – | 0.3 |
| Probe Mines | PRB | 468426 | 3.52 | – | 0.24 |
| Atac Res | ATC | 1385432 | 1.35 | – | 0.22 |
| Pac Booker Min | BKM | 12108 | 6 | – | 0.2 |
| Anfield Nickel | ANF | 93785 | 1.92 | – | 0.2 |
| Bear Creek Mng | BCM | 871198 | 2.08 | – | 0.17 |
| Mirasol Res | MRZ | 125614 | 1.48 | – | 0.17 |
| Aurcana Corp | AUN | 6129403 | 0.9 | – | 0.15 |
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