TSX Venture Exchange, Feb. 25 – Mar. 1

The S&P/TSX Venture Composite Index curbed its decline despite tepid economic data from China, and concern over U.S. government spending cuts. The index dropped 11 points, or roughly 1%, en route to close at 1,133.36.

U.S. politicians pointed fingers over the pending sequester, which would cut US$85 billion in government spending over the next 10 months, with defence programs slated to be cut by 13% and non-defence programs by 9% in 2013.

April contracts for copper dropped 5¢ during the week en route to a US$3.51 per lb. weekly close, while contracts for gold bullion fell US$2.70 per oz. before settling at around US$1575 per oz. to end the trading period. Oil markets were also on the decline, with April contracts for crude losing US$2.36 before closing at US$90.92 per barrel.

Toronto-based junior Lakeland Resources jumped 150% before finishing the week at 14 per share. The company announced it was dropping its focus on precious and base metals in favour of uranium, and is in the picking up eight uranium prospects in the Athabasca basin of northern Saskatchewan and Alberta. Assuming the deal closes, Lakeland will have bought eight projects totalling 1,900 sq. km from a private Alberta-based company for 7.5 million shares, plus undisclosed cash considerations. Interest in Athabasca-style uranium deposits has picked up recently, as the commodity has enjoyed a renaissance over the past six months. Lakeland has until the end of April to finalize the transaction, pending a technical review of the properties.

B.C.-based junior Yellowjacket Resources is also aiming to cash-in on a uranium upswing, announcing on Feb. 28 that it had entered into an agreement to acquire a 1,300 sq. km portfolio of mineral claims in the western Athabasca basin region. The company saw its share price rise 122% before closing out the week at 10. No terms were released, though the company reports that “the claims were acquired at acquisition cost in part from a non-arm’s-length director, and in part from an arm’s-length third-party.” The company had previously focused on the Yellowjacket gold project 9 km east of Atlin, B.C., but now expects its uranium assets to be its primary exploration target. Both Lakehead and Yellowjacket are focusing on the Patterson Lake region, where Alpha Minerals and Fission Energy are working on the Patterson Lake South uranium discovery.

TSX-V most active issues

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		Volume
Company	Symbol	(000s)	High	Low	Close	Change
TomaGold	LOT	12588	0.38	0.21	0.33	+	0.1
Midlands Minls	MEX	11269	0.01	0.01	0.01		0
Electra Gold	ELT	10003	0.03	0.01	0.02	+	0.01
Northern Sup R	SUP	8771	0.06	0.05	0.05	+	0.01
New Guinea Gld	NGG	8168	0.01	0.01	0.01	+	0.01
Dolly Vard Sil	DV	7725	0.2	0.18	0.19		0
Northcore Res	NCR	7186	0.02	0.01	0.02	+	0.01
Cerro Res	CJO	6474	0.14	0.13	0.13	–	0.01
Brilliant Res	BLT	5910	0.07	0.05	0.07	+	0.01
Zenyatta Vent	ZEN	5717	2.35	1.89	2.14	–	0.02

TSX-V greatest percentage change

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		Volume
Company	Symbol	(000s)	High	Low	Close	Change
Arcturus Res	AZN	155	0.04	0.01	0.04	+	700
Tumi Res	TM	19	0.19	0.19	0.19	+	236.3
Regent Vents	REV	350	0.02	0.01	0.02	+	200
Lakeland Res	LK	2369	0.14	0.04	0.1	+	150
Yellowjacket R	YJK	333	0.1	0.05	0.1	+	122.2
Bell Copper	BCU	30	0.01	0.01	0.01	+	100
RPT Uranium	RPT	415	0.01	0.01	0.01	+	100
Pantheon Vent	PVX	141	0.1	0.06	0.1	+	100
Electra Gold	ELT	10003	0.03	0.01	0.02	+	100
New Guinea Gld	NGG	8168	0.01	0.01	0.01	+	100
Canstar Res	ROX	4004	0.1	0.06	0.08	–	55.5
Transition Mtl	XTM	30	0.11	0.07	0 .07	–	51.7
Kincora Copper	KCC	1093	0.04	0.02	0.02	–	50
Duncan Park H	DPH	3735	0.01	0.01	0.01	–	50
Copper Ck Gold	CPV	195	0.01	0.01	0.01	–	50
Samaranta Mng	SAX	3743	0.03	0.02	0.02	–	42.8
Bravura Vent	BVQ	403	0.06	0.03	0.04	–	41.6
Mill Bay Vent	MBV	77	0.02	0.01	0.02	–	40
Cantex Mn Dev	CD	251	0.02	0.02	0.02	–	40
Dawson Gold	DYU	28	0.07	0.06	0.06	–	40

TSX-V greatest value change

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Company	Symbol	Change	Close	Change
Chesapeake Gld	CKG	67623	7.82	+	0.17
Plata Latina M	PLA	61200	0.45	+	0.15
Northern Vertx	NEE	50000	0.98	+	0.15
Tumi Res	TM	19002	0.19	+	0.13
Tasman Metals	TSM	180391	1.05	+	0.11
Diamcor Mng	DMI	55400	1.5	+	0.1
TomaGold	LOT	12588455	0.33	+	0.1
Reservoir Mnls	RMC	334178	2.34	+	0.09
Tinka Res	TK	585031	1.03	+	0.08
Huldra Silver	HDA	1080399	0.78	+	0.08
Lumina Copper	LCC	137382	8.3	–	0.4
Atacama Pac Gd	ATM	61250	2.26	–	0.33
Sarama Res	SWA	168900	0.5	–	0.28
Bear Creek Mng	BCM	566824	2.72	–	0.27
Atac Res	ATC	2132230	1	–	0.2
Great Quest Me	GQ	87230	0.66	–	0.19
Gold Canyon	GCU	5215987	0.47	–	0.15
Almonty Ind	AII	35500	0.85	–	0.15
Pac Booker Min	BKM	23152	4.15	–	0.13
Afferro Mng	AFF	16700	1.08	–	0.12