TSX VENTURE EXCHANGE February 14-18

The S&P-TSX Venture composite index made respectable gains in the Feb. 14-18 week, up 66.12 points to close at 2,423.68. Volume averaged 202 million shares traded daily, while 143 companies hit 52-week highs and 37 reached new lows.

Proving that the iron ore sector is still hot, Canadian Orebodies had the highest volume and percentage gain after announcing it had secured the 27-sq.-km Haig Inlet iron ore project in Nunavut. Orebodies’ share price doubled from 19¢ to 38¢ on the news. The company is acquiring a full legal and beneficial interest in the project in an Inuit-owned mineral exploration agreement with Nunavut Tunngavik in a staged share-based deal. To secure full ownership, Orebodies will eventually have to issue 14 million shares and grant a 3% gross overriding royalty. 

Orbite Exploration VSPA shot up after announcing it had produced its first ton of high-purity alumina from a patented, proprietary process at its Cap-Chat Quebec facility. The company’s share price gained $1.19 to close at $2.82, while it hit a trading high of $3.23. Almost 19 million shares were traded in the company that had been trading at 20¢ in September. Orbite stated that the successful first ton proves the viability of the process and also provides an opportunity to validate cost assumptions. The company is planning to produce alumina for the $3-billion aluminum production industry in Quebec.

Batero Gold had the week’s highest value gain, up $1.39 to $4.19 after releasing especially long drill holes from its Colombian Batero-Quinchia gold-copper project. Hole 8 hit 591.5 metres grading 0.72 gram gold per tonne and 0.13% copper from 8 metres depth and hole 5 cut 398.9 metres carrying 0.46 gram gold and 0.09% copper from 105 metres. The company continues to drill on the La Cumbre porphyry target with two rigs and is adding a third, while it is exploring the La Lenguita and Matecana targets.

Geomega Resources had a second big week after releasing another long drill hole from its Montviel rare-earth element property in the Abitibi region of Quebec. The hole returned 512.7 metres grading 1.38% total rare earth oxides, with neodymium oxide coming in at an average grade of 0.24%. The hit follows up on the first result from the company’s phase one drill program, which returned 480 metres grading 1.24% TREO. Geomega’s share price climbed 87¢ to close at $3.65, while the company first started trading at 35¢ in September.

Canaco Resources got a boost after announcing that the dispute about mineral rights on a tiny portion of its Handeni gold project had been settled in Tanzania. The company’s share price climbed 86¢ to $6.10. The final settlement has Canaco paying the former mineral lease holder US$2 million for previous development work and a 2% net smelter return royalty on minerals produced from the area.

TSX-V most active issues

VOLUMEWEEK

(000s)HIGHLOWCLOSECHANGE

Canadn OrebodsCO291350.440.240.38+0.20

Seafield ResSFF237850.470.310.42+0.02

Allana ResAAA230702.051.721.74+0.05

Passprt PotashPPI220531.190.810.89-0.06

Great WesternGWG214181.010.780.80-0.20

Encanto PotashEPO201250.610.500.52-0.01

Canadn Int MnlCIN198690.740.300.34-0.26

Canadn ArrowCRO192410.140.080.12+0.05

Orbite Expl AORTA189833.231.622.82+1.19

Ucore UraniumUCU158731.220.761.07+0.30

TSX-V greatest percentage change

VOLUMEWEEK

(000s)HIGHLOWCLOSECHANGE

Canadn OrebodsCO291350.440.240.38+111.1

Orbite Expl AORTA189833.231.622.82+73.0

Canadn ArrowCRO192410.140.080.12+71.4

Orestone MngORS72380.110.050.08+60.0

PMI GoldPMV65760.800.500.80+53.8

GWR ResGWQ30400.440.280.43+53.5

Red Mile MnlsRDM730.160.120.15+50.0

Trillium NorthTNM13520.060.040.06+50.0

Batero GoldBAT71224.442.694.19+49.6

Expedition MngEXU30820.310.160.25+47.0

Canadn Int MnlCIN198690.740.300.34-43.3

Garrison IntlGAU36430.120.050.07-41.6

Advanced PrimaAPD130.260.220.23-32.3

Jazz ResJZR250.300.250.25-28.5

Galena CapitalFYI22080.080.050.05-28.5

Yankee Hat IndKHT38810.060.050.05-28.5

Saturn MinlsSMI16830.290.200.21-27.5

Claim Post ResCPS990.190.150.16-27.2

Augen CapitalAUG750.100.080.08-27.2

Cascadia ResCCR920.160.120.12-25.0

TSX-V greatest value change

WEEK

VOLUMECLOSECHANGE

Batero GoldBAT71220794.19+1.39

Orbite Expl AORTA189833702.82+1.19

Geomega ResGMA28359553.65+0.87

Canaco ResCAN35156066.10+0.86

Mirasol ResMRZ3446206.51+0.86

Loncor ResLN3871003.75+0.85

St Elias MnsSLI37030482.41+0.67

Atacama Pac GdATM1353644.25+0.60

Richfield VentRVC10049065.40+0.54

New Millen CapNML49708384.10+0.51

Rare Elemnt RsRES81408812.68-0.82

Rainy River RsRR91035112.74-0.38

Hana MngHMG27747064.00-0.32

Amazon MngAMZ3400447.70-0.30

Canadn Int MnlCIN198691210.34-0.26

Quest Rare MnlQRM18767016.00-0.24

Hathor ExplHAT16936303.09-0.21

Andina MnlsADM23145481.70-0.20

Great WesternGWG214177330.80-0.20

Stans EnergyRUU68727182.38-0.20