The S&P/TSX Venture Composite Index overcame a slow start to register its second consecutive weekly gain during the trading period, finishing up 6.33 points en route to a 946.56-point close. Stronger commodity prices continue to drive market gains, with promising manufacturing reports from China and Europe underpinning rising natural resource stocks. Financials remained positive for the major Canadian banks ahead of upcoming earnings reports.
Gold futures are running back up to the US$1,400 per oz. level, with December contracts for bullion finishing the week up US$21 at US$1,397.40 per oz. Copper cooled off slightly after a three-week rally, as December contracts for the red metal dropped US1.4¢, en route to a US$3.35 per lb. weekly close. Crude oil also took a breather, with October contracts for West Texas Intermediate finishing down US45¢ at US$106.36 per barrel.
Stepout drill results drove market momentum for Kennady Diamonds, which led the value-added category during the week with a $1.25 jump, before closing at $5.35 per share. On Aug. 21 the company released more assays from a 3,000-metre drill program at its Kennady North project in the Northwest Territories. Kennady intersected 81 metres of kimberlite — in hole 13-039 — during stepout drilling along strike northwest of its Kelvin target. The company is continuing delineation drilling to determine the limits of the kimberlite emplacement northwest of the main Kelvin body. Kennady’s current drill program is expected to recover more than 2 tonnes of kimberlite before October, which is double the quantity recovered during a 5,000-metre drill program late last year. The company is scheduled to release diamond-recovery results from the project during the fourth quarter.
Political news out of Mexico triggered a 22¢-per-share fall for Esperanza Resources, which closed the week at 70¢ per share. On Aug. 22 the company commented on an amendment to Article 71 of the Law of Rural Sustainable Development in the State of Morelos. Esperanza’s wholly owned Esperanza gold project — which lies 110 km south of Mexico City in Morelos — was mentioned in a policy discussion regarding cyanide use in recovering gold and silver.
Esperanza points out that certain materials, including cyanide, are already restricted by Mexican legislation, and that the company intends to comply with current laws.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Fission Uran | FCU | 24028 | 1.45 | 1.23 | 1.37 | – | 0.05 |
| Eagle Hill Exp | EAG | 8311 | 0.14 | 0.1 | 0.12 | + | 0.01 |
| Castle Res | CRI | 8157 | 0.06 | 0.04 | 0.05 | 0 | |
| Oceanic Iron O | FEO | 7036 | 0.09 | 0.08 | 0.09 | + | 0.01 |
| Corsa Coal | CSO | 6804 | 0.13 | 0.1 | 0.12 | – | 0.01 |
| Metanor Res | MTO | 6584 | 0.22 | 0.16 | 0.21 | + | 0.04 |
| Habanero Res | HAO | 5637 | 0.02 | 0.02 | 0.02 | – | 0.01 |
| Trueclaim Expl | TRM | 5452 | 0.06 | 0.04 | 0.05 | – | 0.01 |
| Unigold | UGD | 5352 | 0.09 | 0.07 | 0.09 | + | 0.01 |
| Cache Expl | CAY | 4654 | 0.07 | 0.02 | 0.03 | + | 0.02 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Philippine Mtl | PHI | 17 | 0.05 | 0.01 | 0.05 | + | 400 |
| Transition Mtl | XTM | 15 | 0.23 | 0.16 | 0.23 | + | 283.3 |
| Bear Lake Gold | BLG | 3317 | 0.06 | 0.02 | 0.05 | + | 233.3 |
| Canadn Int Mnl | CIN | 2898 | 0.04 | 0.02 | 0.03 | + | 200 |
| Grenville Gold | GVG | 30 | 0.12 | 0.06 | 0.12 | + | 200 |
| Minfocus Expl | MFX | 349 | 0.04 | 0.02 | 0.04 | + | 133.3 |
| Windarra Minls | WRA | 930 | 0.07 | 0.04 | 0.07 | + | 133.3 |
| Zonte Mtls | ZON | 220 | 0.1 | 0.05 | 0.08 | + | 128.5 |
| North Am Pot D | NPD | 211 | 0.07 | 0.03 | 0.07 | + | 116.6 |
| Aldershot Res | ALZ | 39 | 0.01 | 0.01 | 0.01 | + | 100 |
| Rainmaker Mng | RMG | 2276 | 0.45 | 0.12 | 0.14 | – | 75.8 |
| Thelon Cap |
THC | 322 | 0.01 | 0.01 | 0.01 | – | 66.6 |
| Great Atlantic | GR | 1348 | 0.03 | 0.01 | 0.01 | – | 50 |
| RPT Uranium | RPT | 435 | 0.01 | 0.01 | 0.01 | – | 50 |
| Samex Mng | SXG | 2999 | 0.05 | 0.01 | 0.02 | – | 50 |
| Richmond Mnls | RMD | 108 | 0.02 | 0.01 | 0.01 | – | 50 |
| Prominex Res | PXR | 164 | 0.02 | 0.01 | 0.01 | – | 50 |
| Penteco Res | PEN | 876 | 0.02 | 0.01 | 0.01 | – | 50 |
| Goldrea Res | GOR | 333 | 0.01 | 0.01 | 0.01 | – | 50 |
| Prime Merid Rs | PMR | 50 | 0.01 | 0.01 | 0.01 | – | 50 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Kennady Diam | KDI | 301196 | 5.35 | + | 1.25 |
| Avino Silver | ASM | 88414 | 1.49 | + | 0.22 |
| Chesapeake Gld | CKG | 58567 | 4.73 | + | 0.21 |
| Sandstorm Mt&E | SND | 395968 | 1.48 | + | 0.19 |
| Bacanora Mnls | BCN | 1336387 | 0.38 | + | 0.18 |
| Archon Mineral | ACS | 13000 | 0.85 | + | 0.17 |
| Transition Mtl | XTM | 14502 | 0.23 | + | 0.17 |
| Midland Expl | MD | 88100 | 1 | + | 0.16 |
| Rathdowney Res | RTH | 16000 | 0.41 | + | 0.13 |
| Gold Reserve | GRZ | 22098 | 3.23 | + | 0.13 |
| Rainmaker Mng | RMG | 2276020 | 0.14 | – | 0.43 |
| Alpha Mnls | AMW | 935197 | 6.85 | – | 0.35 |
| Esperanza Res | EPZ | 3981208 | 0.7 | – | 0.22 |
| Athabasca Mnls | ABM | 313678 | 1 | – | 0.15 |
| Lumina Copper | LCC | 191203 | 4.45 | – | 0.13 |
| Lara Expl | LRA | 54994 | 1.04 | – | 0.13 |
| Santacruz Silv | SCZ | 472160 | 1.33 | – | 0.12 |
| Reservoir Mnls | RMC | 304775 | 4.1 | – | 0.1 |
| Anfield Nickel | ANF | 29000 | 2.28 | – | 0.09 |
| GoldQuest Mng | GQC | 1784389 | 0.36 | – | 0.09 |
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