TSX VENTURE EXCHANGE FEB 5-11

Despite further strengthening in base and precious metal prices, the S&P-TSX Venture Composite Index retreated 26.2 points over the Feb. 5-11 trading session, closing at 2,541.53. The junior board posted an average daily trading volume of 80.2 million shares over the week.

A bearish cloud continued to hang over the junior mining market with 15 explorers rising to new 52-week share price highs, while 177 slumped to new annual lows.

Coal and energy company West Hawk Development grabbed top trading honours for the week on volume of almost 60 million shares. It posted a 50% gain — closing up 6.5 at 19.5 per share — on news of higher than expected natural gas production at its Figure Four property, in Colorado. The company also holds coal projects in B.C., the Northwest Territories and Nunavut.

Majescor Resources saw more than 31 million shares change hands over the session, closing up a penny at 16.5 per share, following a wide uranium-mineralized intercept from its Mistassini property, in the Otish Mountains of Quebec. Drilling cut 17 metres of 0.2% U₃O₈ on the Lac Mantouchiche showing.

Shares of Xemplar Energy slipped further during the session, closing down 13 to $3.82 apiece on 15.8 million shares traded. Recent drilling on uranium-mineralized granites at the company’s Warmbad project, in Namibia, returned low-grade U₃O₈ values.

More than 10 million shares in Pacific Comox Resources changed hands on news of a near-surface, high-grade molybdenum intercept from the Ryan Lake project, near Matachewan, Ont. The stock added 2 to 10.5 on assays of up to 15 metres grading 0.49% molybdenum from the North zone, which hosts a past-producing open-pit moly operation.

Romarco Minerals posted a 2 gain on the week, closing at 17.5 per share on trading volume of 8.7 million shares. Recent drilling at the company’s Haile gold mine project, in South Carolina, returned 46 metres of 5.7 grams gold per tonne.

First Narrows Resources saw more than 7.5 million shares change hands over the session — closing down a penny at 24.5 per share. The company announced further high-grade copper intercepts from its Chester project, in New Brunswick, where drilling cut up to 22 metres of 1.5% copper, including a 5.4- metre section grading 4.3% copper.

Molybdenum producer Roca Mines posted a 12% gain on the trading session, closing up 33 at $3.01 on 3.5 million shares

of volume. Underground drilling at the company’s Max mine, in southeastern B.C., cut wide mineralized intervals, boosting the depth potential of the deposit. Hole MX07-01 cut 186 metres of 0.27% molybdenum in the lower portion of the deposit, including higher-grade sections of up to 12.2 metres at 0.68% molybdenum.

Shares of Tres-Or Resources closed the week up 56%, or 9 higher at 25 apiece, on trading volume of 1.5 million. .