The S&P/TSX Venture Composite Index capped off a month-long rally with big gains during the trading period, jumping 2.5%, or 21.97 points, en route to a seven-week high of 920.39 points to end the week. Gains were underpinned by surging commodity prices — with crude oil leading the way — as China announced it planned to remove the floor on its lending rates.
Gold futures rode positive momentum for a second week, with September contracts for bullion up US$6.90, en route to a US$1,295.05 per oz. close. Crude oil continues to hit yearly highs, as September contracts for West Texas Intermediate (WTI) jumped to US$108.23 per barrel to end the week. WTI futures are up 14.9%, or US$23.31 per barrel since early January. Copper remained relatively static, with September contracts for the red metal declining 0.1% to US$3.146 per lb.
Vancouver-based copper junior Pacific Booker Minerals had a strong week after news of a non-brokered private placement it completed on July 15. The company jumped $1.05 during the trading period before closing at $4 per share. Pacific Booker has been hit hard since the B.C. government refused to issue an environmental assessment certificate for its Morrison Lake copper project, 65 km north of Smithers.
The company announced it had completed a 70,000-unit placement at $4 per share, as well as one warrant to buy another half share at $4, exercisable any time before July 2014, and at $5 exercisable any time prior to July 2015. Total proceeds from the placement will amount to around $280,000, which will likely be put towards Pacific Booker’s dispute with the provincial government over revisiting Morrison Lake’s permitting potential.
Athabasca-focused outfit Fission Uranium enjoyed an 11¢ gain on 4.9 million shares traded before finishing up the week at 91¢ per share. On July 19 the company released maiden results from a mid-year drill program at its Patterson Lake South (PLS) project in the southwest part of Saskatchewan’s Athabasca basin. Fission operates PLS under a fifty-fifty partnership with Alpha Minerals.
Fission announced partial results from hole 13-072, which was collared to test for a western extension of the R390E zone. Drilling is progressing, but the company reported an 85-metre interval from 62 metres depth of variably radioactive mineralization, including a total of 19 metres of off-scale radioactivity in narrower intervals throughout. The hole is still in progress at a depth of around 185 metres, but is on hold for mechanical reasons. Alpha did even better, closing the week up 12% to an even $5.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Brookemnt Cpt | BKT | 18994 | 0.07 | 0.04 | 0.04 | – | 0.01 |
| TAD Mnl Expl | TJ | 14374 | 0.04 | 0.03 | 0.04 | + | 0.01 |
| Rockcliff Res | RCR | 6740 | 0.03 | 0.01 | 0.02 | + | 0.01 |
| Cavan Vent | CVN | 6442 | 0.07 | 0.05 | 0.05 | – | 0.02 |
| EastCoal | ECX | 6340 | 0.03 | 0.02 | 0.03 | 0 | |
| Fission Uran | FCU | 4868 | 0.93 | 0.8 | 0.91 | + | 0.11 |
| Habanero Res | HAO | 4523 | 0.02 | 0.02 | 0.02 | + | 0.01 |
| Castle Res | CRI | 4502 | 0.04 | 0.03 | 0.04 | – | 0.01 |
| Unigold | UGD | 4080 | 0.08 | 0.07 | 0.07 | – | 0.02 |
| Caribou King R | CKR | 3559 | 0.05 | 0.04 | 0.04 | + | 0.01 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Valhalla Res | VH | 442 | 0.05 | 0.03 | 0.03 | + | 200 |
| Central Res | CBC | 17 | 0.06 | 0.06 | 0.06 | + | 200 |
| Red Pine Expl | RPX | 3274 | 0.02 | 0.01 | 0.02 | + | 200 |
| Duncastle Gold | DUN | 90 | 0.02 | 0.02 | 0.02 | + | 100 |
| Acrex Vent | AKV | 21 | 0.01 | 0.01 | 0.01 | + | 100 |
| Electra Gold | ELT | 309 | 0.01 | 0.01 | 0.01 | + | 100 |
| Elm Tree Mnls | ETM | 320 | 0.21 | 0.1 | 0.2 | + | 100 |
| Golden Dory Rs | GDR | 402 | 0.01 | 0.01 | 0.01 | + | 100 |
| Fire River Gol | FAU | 46 | 0.01 | 0.01 | 0.01 | + | 100 |
| Cream Mnrls | CMA | 282 | 0.01 | 0.01 | 0.01 | + | 100 |
| Minfocus Expl | MFX | 95 | 0.01 | 0.01 | 0.01 | – | 66.6 |
| Playfair Mng | PLY | 79 | 0.01 | 0.01 | 0.01 | – | 66.6 |
| Adroit Res | ADT | 335 | 0.01 | 0.01 | 0.01 | – | 50 |
| Pac Comox Res | PCM | 25 | 0.01 | 0.01 | 0.01 | – | 50 |
| Nevada Clean M | NVM | 932 | 0.01 | 0.01 | 0.01 | – | 50 |
| Red Rock Enrgy | RRK | 31 | 0.01 | 0.01 | 0.01 | – | 50 |
| Celeste Copper | C | 160 | 0.01 | 0.01 | 0.01 | – | 50 |
| Lounor Expl | LO | 178 | 0.01 | 0.01 | 0.01 | – | 50 |
| Midlands Minls | MEX | 110 | 0.01 | 0.01 | 0.01 | – | 50 |
| Lakewood Mng | LKW | 22 | 0.01 | 0.01 | 0.01 | – | 50 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Chesapeake Gld | CKG | 144344 | 4.53 | + | 1.37 |
| Pac Booker Min | BKM | 36997 | 4 | + | 1.05 |
| Aurcana Corp | AUN | 1157191 | 1.86 | + | 0.23 |
| Lumina Copper | LCC | 124709 | 4.9 | + | 0.2 |
| Probe Mines | PRB | 258149 | 1.92 | + | 0.17 |
| Reservoir Mnls | RMC | 393801 | 3.31 | + | 0.16 |
| Atac Res | ATC | 880410 | 0.98 | + | 0.14 |
| Santacruz Silv | SCZ | 497386 | 1.13 | + | 0.13 |
| Fission Uran | FCU | 4867705 | 0.91 | + | 0.11 |
| Panoro Minls | PML | 626447 | 0.34 | + | 0.1 |
| Sandstorm Mt&E | SND | 3206786 | 1.92 | – | 0.31 |
| Zenyatta Vent | ZEN | 1977561 | 3.72 | – | 0.22 |
| Atacama Pac Gd | ATM | 11300 | 1.25 | – | 0.15 |
| Orogrande Res | ORG | 1204713 | 0.44 | – | 0.15 |
| Colorado Res | CXO | 529161 | 0.83 | – | 0.11 |
| Palladon Vent | PLL | 26130 | 1.04 | – | 0.09 |
| Gold Reach Res | GRV | 157420 | 1.17 | – | 0.08 |
| Ascot Res | AOT | 17710 | 0.75 | – | 0.08 |
| Gold Reserve | GRZ | 21159 | 3.02 | – | 0.08 |
| Mkango Res | MKA | 13570 | 0.13 | – | 0.08 |
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