TSX Venture Exchange January 9 – 15

After ringing in the new year with a major dip, the S&P-TSX Venture Composite Index took back some ground on the back of gold’s recovery, gaining a couple of per cent to close the Jan. 9-15 session up 60.58 points at 2,892.23. Average daily trading volumes strengthened over the period at 71.2 million shares.

The market’s bullish trend was more moderate than the previous week, with 44 junior board explorers touching new 52-week highs while 23 slumped to yearly lows over the trading session.

Penny-trader IBI Corp. captured top-volume honours with more than 22.6 million shares changing hands on the week, notching up a half-cent to 5.5 per share. After recently announcing the sale of its Ugandan vermiculite mine to Rio Tinto, it has begun exploration on its gold and uranium projects, also in Uganda.

Acadian Gold posted trading volume of 13 million shares over the session and gained 13%, or 14, to close at $1.22 per share. The East Coast explorer is readying its Scotia zinc-lead mine in Nova Scotia for production over the next couple of months.

Deep, high-grade gold intercepts at its Cove-McCoy project in Nevada pushed shares of Victoria Resource to trading volume of almost 11 million; the stock gained 83%, closing up 54 at $1.19 per share. A hole collared northwest of the Cove pit cut 38.4 metres averaging 10.95 grams gold per tonne, including a 10.4-metre section of 22 grams gold.

Consolidated Gold Win Ventures gave up 1.5 to close at 14.5 per share on trading volume of nearly 10.5 million shares. Drilling on its South Dolly Varden gold-copper project in Nevada returned 22.9 metres (from 134.5 metres down-hole depth) grading 0.66% copper and 8.2 grams silver.

Shares of First Narrows Resources rallied 89% on the week, closing up 15.5 at 33 apiece on volume of 9.1 million. Drilling on the company’s Chester project in New Brunswick’s Bathurst mining camp cut 25 metres of 3.43% copper.

Kalahari Resources posted volume of 8.4 million shares on the session to inch up 1.5 at 9.5 per share on no news, however the company did log a couple of large market crosses. It recently began a drill program on its Lamaque gold property near Val d’Or, Que.

Uranium producer UrAsia Energy saw a 15% gain to close up 72 at $5.45 on volume of 7.8 million shares. The company has signed a uranium supply contract with a North American nuclear utility for about 4 million lbs. U3O8 over five years. UrAsia recently announced quarterly earnings of US$25.9 million generated from production at its Akdala uranium mine in Kazakhstan.

Shares of Serengeti Resources soared 107% on trading volume of 6.4 million to close up 62 at $1.20 apiece. Drilling on the company’s Kwanika porphyry copper project in north-central British Columbia returned a 111-metre intercept grading 0.69% copper and 0.54 gram gold. Serengeti subsequently announced a planned private placement to raise up to $5 million.

TSX-V greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
Serengeti Res	SIR	6437	1.20	0.55	1.20	+106.9
First Narrows	UNO	9110	0.365	0.16	0.33	+88.5
Melkior Res	MKR	5735	0.275	0.14	0.27	+86.2
Victoria Res	VIT	10840	1.32	0.68	1.19	+83.0
Buchans River	BUV	96	0.60	0.39	0.60	+71.4
Starcore Int V	SAM	2630	1.03	0.65	1.02	+59.3
Millstream Min	MLM	2021	0.26	0.17	0.26	+48.5
Strategic Nev	SNS	1025	1.27	0.82	1.18	+47.5
NFX Gold	NFX	4061	0.56	0.365	0.54	+45.9
RJK Explor	RJX.A	246	0.13	0.105	0.115	+43.7
Telkwa Gold	TKW	1461	0.15	0.07	0.08	-50.0
Luxor Ind	LRL	48	0.11	0.07	0.07	-36.3
Nortec Vent	NVT	2061	0.22	0.135	0.145	-30.9
EurOmax Res	EOX	543	0.465	0.38	0.38	-26.9
Normiska	NNC	20	0.21	0.21	0.21	-25.0
Bearcat Expl	BEA	801	0.35	0.26	0.26	-23.5
Pac Imp Mines	PPM	31	0.20	0.18	0.18	-21.7
Resolve Vent	RSV	13	0.19	0.185	0.185	-21.2
Gold Reach Res	GRH	2117	0.185	0.14	0.15	-21.0
Petromin Res	PTR	128	0.25	0.20	0.245	-20.9

TSX-V greatest value change

		VOLUME	CLOSE	CHANGE
Aurelian Res	ARU	952702	32.60	+4.14
Seabridge Gold	SEA	74811	15.44	+1.41
Mag Silver	MAG	559288	7.23	+1.03
UrAsia Energy	UUU	7808152	5.45	+0.72
Coral Gold	CGR	10515	3.66	+0.66
Serengeti Res	SIR	6437342	1.20	+0.62
Mishibishu Gol	MGO	867560	4.13	+0.61
Marathon PGM	MAR	86925	3.89	+0.61
Pan Oce Exp	POE	930527	3.49	+0.54
Victoria Res	VIT	10839860	1.19	+0.54
Crosshair E&Mg	CXX	3677002	3.05	-0.60
Northern Dyn M	NDM	269603	8.75	-0.34
Ultra Uranium	ULU	925248	1.49	-0.34
Esperanza Silv	EPZ	602049	3.72	-0.31
Triex Minerals	TXM	318122	4.35	-0.28
Intl Tower Hil	ITH	191000	2.45	-0.28
Arizona Star	AZS	93508	13.75	-0.25
Gobimin	GMN	164100	2.05	-0.25
Asia Gold	ASG	33064	1.80	-0.25
Oromin Expl	OLE	87041	1.90	-0.24

TSX-V most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE	CHANGE
IBI Corp	IBI	22661	0.065	0.05	0.055	+0.005
Canadn Imp Vnt	CQV	18094	0.20	0.125	0.145	+0.02
Acadian Gold	ADA	12999	1.30	1.01	1.22	+0.14
Victoria Res	VIT	10840	1.32	0.68	1.19	+0.54
Cons Gold Win	CGW	10459	0.165	0.13	0.145	-0.015
First Narrows	UNO	9110	0.365	0.16	0.33	+0.155
Kalahari Res	KLA	8392	0.11	0.07	0.095	+0.015
UrAsia Energy	UUU	7808	5.49	4.72	5.4 5	+0.72
Serengeti Res	SIR	6437	1.20	0.55	1.20	+0.62
Melkior Res	MKR	5735	0.275	0.14	0.27	+0.125