The S&P/TSX Venture Composite Index continued to lose ground during the period, dropping roughly 3.47 points en route to close at 920.09. The Venture struggled mid-week over growing concerns over the expiry date of the U.S. Federal Reserve’s stimulus policies. Markets were buoyed later in the week by Chinese trade data that indicate exports and imports both increased in July.
Commodity futures generally closed the week in the black, with December contracts for gold bullion gaining US$10.35 before closing at US$13,13.50 per oz. Crude oil remained relatively static near a 52-week high, as September contracts for West Texas Intermediate dropped around US25¢ to close at US$106.17 per barrel. Copper jumped mid-week on the positive economic news from China, with September contracts finishing up US14.5¢ at US$3.31 per lb.
Toronto-based explorer Kennady Diamonds led the value-added category during the week after releasing two pieces of news from its Kennady North project, 280 km northeast of Yellowknife, N.W.T. Shares jumped $1.98 on 710,500 share trades en route to a $4 close.
On Aug. 6 Kennady announced diamond recovery results from a 5,000-metre drill program completed last winter. The company sampled drill core from its Kelvin and Faraday kimberlites. The largest three diamonds recovered include: a 2.48 carat off-white transparent octahedral, a 0.9 carat off-white transparent irregular, and a 0.75 carat off-white transparent octahedral. Kennady reports that roughly 64% of recovered diamonds are classified as white and transparent.
Kennady followed up on Aug. 7 when it announced maiden results from an on-going, in-fill drill program at Kelvin. The company intersected kimberlite over widths ranging from 21.5 metres to 116 metres in its first five holes, resulting in the recovery of over 1,200 kg of kimerlite.
Saskatchewan-focused Fission Uranium and Alpha Minerals continue to make headlines with a summer drill program at their Patterson Lake South (PLS) uranium joint venture in the Athabasca Basin. Fission jumped 13¢ as 17 million shares traded hands before the company closed at $1.10, while Alpha registered a 32¢ gain during the week on 504,400 share trade volumes en route to a $5.65 per share close,
On Aug. 8 the companies announced results from four holes at PLS’s R00E zone, which tested the targets central area and western extension. The announcement was highlighted by hole 79, which intersected 18.5 metres of mineralization with a composite total of 4.94 metres of “off-scale” radioactivity — including 4.63 metres of continuous “off-scale” radioactivity.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Fission Uran | FCU | 17596 | 1.1 | 0.94 | 1.1 | + | 0.13 |
| Esperanza Res | EPZ | 7288 | 0.9 | 0.88 | 0.89 | – | 0.01 |
| Guerrero Expl | GEX | 4993 | 0.04 | 0.02 | 0.02 | – | 0.03 |
| Sunridge Gold | SGC | 4881 | 0.22 | 0.18 | 0.22 | + | 0.03 |
| Castle Res | CRI | 4297 | 0.04 | 0.03 | 0.03 | 0 | |
| Columbus Expl | CLX | 4136 | 0.05 | 0.05 | 0.05 | 0 | |
| Reservoir Capt | REO | 3245 | 0.04 | 0.03 | 0.04 | + | 0.01 |
| Brookemnt Cpt | BKT | 2972 | 0.05 | 0.04 | 0.05 | + | 0.01 |
| True Gold Mng | TGM | 2861 | 0.31 | 0.24 | 0.27 | 0 | |
| Skyharbour Res | SYH | 2376 | 0.08 | 0.06 | 0.07 | 0 | |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Golden Share M | GSH | 131 | 0.2 | 0.04 | 0.2 | + | 400 |
| BE Res | BER | 289 | 0.27 | 0.08 | 0.26 | + | 240 |
| Red Rock Enrgy | RRK | 29 | 0.02 | 0.01 | 0.02 | + | 200 |
| Rainmaker Mng | RMG | 727 | 0.51 | 0.21 | 0.51 | + | 155 |
| Golden Band | GBN | 1398 | 0.08 | 0.03 | 0.07 | + | 116.6 |
| Fire River Gol | FAU | 102 | 0.01 | 0.01 | 0.01 | + | 100 |
| Messina Minls | MMI | 145 | 0.04 | 0.04 | 0.04 | + | 100 |
| Kola Mng | KM | 50 | 0.03 | 0.03 | 0.03 | + | 100 |
| Manson Creek | MCK | 332 | 0.01 | 0.01 | 0.01 | + | 100 |
| La Quinta Res | LAQ | 55 | 0.01 | 0.01 | 0.01 | + | 100 |
| Amanta Res | AMH | 123 | 0.01 | 0.01 | 0.01 | – | 66.6 |
| Guerrero Expl | GEX | 4993 | 0.04 | 0.02 | 0.02 | – | 62.5 |
| Pac Wildcat Re | PAW | 881 | 0.05 | 0.04 | 0.04 | – | 58.8 |
| Menika Mining | MML | 1000 | 0.01 | 0.01 | 0.01 | – | 50 |
| Electra Gold | ELT | 21 | 0.01 | 0.01 | 0.01 | – | 50 |
| Goldcliff Res | GCN | 20 | 0.01 | 0.01 | 0.01 | – | 50 |
| Northcore Res | NCR | 24 | 0.01 | 0.01 | 0.01 | – | 50 |
| Ditem Explor | DIT | 56 | 0.01 | 0.01 | 0.01 | – | 50 |
| Taranis Res | TRO | 49 | 0.07 | 0.04 | 0.04 | – | 42.8 |
| Pac Iron Ore | POC | 400 | 0.03 | 0.03 | 0.03 | – | 40 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Kennady Diam | KDI | 710478 | 4 | + | 1.98 |
| Reservoir Mnls | RMC | 520034 | 3.79 | + | 0.61 |
| Aurcana Corp | AUN | 734676 | 2.48 | + | 0.36 |
| Alpha Mnls | AMW | 504397 | 5.65 | + | 0.32 |
| Rainmaker Mng | RMG | 726580 | 0.51 | + | 0.31 |
| BE Res | BER | 288773 | 0.26 | + | 0.18 |
| Golden Share M | GSH | 131245 | 0.2 | + | 0.16 |
| Bear Creek Mng | BCM | 149851 | 2 | + | 0.15 |
| Maudore Minls | MAO | 109920 | 0.47 | + | 0.14 |
| Fission Uran | FCU | 17595735 | 1.1 | + | 0.13 |
| Sandstorm Mt&E | SND | 460992 | 1.31 | – | 0.31 |
| Chesapeake Gld | CKG | 15921 | 4.74 | – | 0.25 |
| Bralorne Gold | BPM | 110641 | 0.22 | – | 0.14 |
| Pac Coal Res | PAK | 13350 | 0.5 | – | 0.12 |
| Rathdowney Res | RTH | 64130 | 0.3 | – | 0.12 |
| Zenyatta Vent | ZEN | 1733002 | 3.9 | – | 0.11 |
| Anfield Nickel | ANF | 21213 | 2.4 | – | 0.1 |
| Orefinders Res | ORX | 35088 | 0.23 | – | 0.1 |
| Lumina Copper | LCC | 137407 | 4.62 | – | 0.08 |
| Flinders Res | FDR | 91293 | 0.55 | – | 0.08 |
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