TSX Venture Exchange (February 14, 2011)

The S&P-TSX Venture composite index posted robust gains in the Jan. 31-Feb. 4 trading week, surging 354.27 points to close at 13,791.85. Some 128 juniors reached new 52-week highs, while the number of companies sinking to new lows climbed to 40. 

Rainy River Resources topped the list of value gains on news of final assay results from phase 1 of its 2010 drill program at the Rainy River joint-venture gold project it has with Northern Superior Resources, 190 km northeast of Pickle Lake in Ontario. Highlights from the drilling include 6.9 grams gold over 0.8 metre, 1.8 grams gold over 2.5 metres, and 1 gram gold over 2.4 metres. The news sent Rainy River’s share price rising $1.35 to $13 per share.

African Aura Minerals jumped $1.25 to $3.90 per share on the back of two separate news releases. On Feb. 1, the sub-Saharan Africa-focused explorer published a maiden resource estimate for its Nkout iron ore project in southern Cameroon, and on Feb. 3 drill results from its Ndablama gold prospect in western Liberia. Its 100%-owned Nkout project has an inferred resource of 1.04 billion tonnes of iron ore at 34% iron. The estimate covers a 3 km section of a 20-km-long magnetic anomaly and the company continues to drill east and west along strike. Separately, results from the first eight holes of reconnaissance drilling at the Ndablama gold prospect on its 100%-owned Bea Mountain licence, included 8 metres of 6.04 grams gold and 16 metres of 2.38 grams gold. Results from the final 7 holes of the company’s 2,500-metre drill program are expected in the first quarter of this year.

Four of the top ten companies this week in terms of value gains were rare earth companies and none of them posted any significant news. Tasman Metals, with rare-earth projects in Sweden, Finland and Norway, rose 99¢ to $5.34, while Rare Element Resources rose 98¢ to $13.88. Stans Energy advanced 92¢ to $3.20 and Quest Rare Minerals climbed 61¢ to $6.26 per share.

Allana Potash, which holds potash properties in Ethiopia, was the most actively traded stock with 37.9 million shares changing hands. On Feb. 4 the junior amended the terms of a bought-deal financing, announced the day earlier, to $27.9 million from $20 million. If the underwriters exercise their over-allotment option the proceeds will rise to $32.1 million. The funds will be used to continue exploration and development work at the company’s previously explored Dallol potash property. The junior advanced 40¢ to $1.80 per share.

High copper prices, meanwhile, helped drive Hana Mining shares up 68¢ to $5 apiece. Exploration at its Ghanzi copper-silver project in the Kalahari copper belt of northwestern Botswana has outlined a mineralized area extending 152 km in length. The project is estimated to have a global resource of 4.5 billion lbs. copper and 68.5 million oz. silver from 233.9 million tonnes.

TSX-V most active issues

VOLUMEWEEK

(000s)HIGHLOWCLOSECHANGE

Allana ResAAA378821.901.261.80+0.40

Great WesternGWG295551.230.871.06+0.17

Passprt PotashPPI192680.840.360.74+0.36

Encanto PotashEPO161900.560.410.51+0.08

Orbite Expl AORTA148342.081.181.60-0.17

Stans EnergyRUU129173.302.263.20+0.92

ESO UraniumESO110760.180.120.17+0.03

Northern Sup RSUP104691.050.820.83-0.01

Ashburton VentABR103510.230.160.21+0.05

Trade Winds VtTWD100160.340.280.320.00

TSX-V greatest percentage change

VOLUMEWEEK

(000s)HIGHLOWCLOSECHANGE

Ringbolt VentRBV17800.350.150.31+158.3

Passprt PotashPPI192680.840.360.74+94.7

Softrock MnrlSFT18150.090.040.07+75.0

Red Rock EnrgyRRK2220.270.130.22+69.2

Tearlach ResTEA200.050.050.05+66.6

Forum UraniumFDC81470.440.250.42+61.5

Pinestar GoldPNS14860.210.100.16+60.0

Caribou CopperCKR1320.160.110.16+60.0

D Arianne ResDAN31960.780.480.75+53.0

African Aura MAUR3164.002.653.90+47.1

Pac Casc MinlsPCV16860.060.050.05-28.5

Pro MineralsPRM38150.080.050.05-28.5

Aroway MnlsARW3460.470.350.36-28.0

Diamcor MngDMI4320.440.300.31-27.9

Altair VentAVX10750.140.100.11-26.6

Knight ResKNP48610.030.020.03-25.0

Volcanic MtlsVOL3200.400.310.31-22.5

Wildcat ExplWEL16040.090.070.07-22.2

Wescan GoldfieWGF7670.170.140.14-22.2

West High YldWHY820.420.320.32-21.9

TSX-V greatest value change

WEEK

VOLUMECLOSECHANGE

Rainy River RsRR118937213.00+1.35

African Aura MAUR3164223.90+1.25

Tasman MetalsTSM9811175.34+0.99

Bear Creek MngBCM9594688.98+0.98

Rare Elemnt RsRES99464413.88+0.98

Stans EnergyRUU129174343.20+0.92

Ninety Nine CpWDG11124383.00+0.70

Hana MngHMG25313295.00+0.68

Hathor ExplHAT43761793.42+0.67

Quest Rare MnlQRM20090536.26+0.61

Chesapeake GldCKG7079813.70-1.00

Sandspring ResSSP7189282.83-0.36

Lumina CopperLCC2377825.45-0.30

Pac Booker MinBKM330948.94-0.21

Loncor ResLN1311002.50-0.18

Orbite Expl AORTA148340311.60-0.17

Cayden ResCYD1113704.33-0.16

Kestrel GoldKGC2449791.07-0.16

Aldridge MinlsAGM2022331.50-0.15

Goldsource MinGXS4582270.80-0.15