Following a mixed week of metals prices and market sentiment, the S&P-TSX Venture Composite Index shed 46.43 points over the June 13-19 trading session to close at 2,502.6. Average daily trading volumes strengthened slightly over the period at 52.8 million shares.
Indicative of the market’s continued bearish attitude, just 11 companies rallied to new annual highs over the week while 56 experienced new lows.
With 8 million shares changing hands, Plexmar Resources grabbed top-trader honours, notching up a penny to close at 30. The company continues to trench its Bolsa del Diablo project in Peru, where significant high-grade gold values have been encountered.
Shares of ECU Silver Mining closed up 17 at $2.60 apiece, posting volume of just over 7 million on the session. Metallurgical testing on gold-pyrite concentrates produced from the company’s Santa Juana mine, in Mexico’s Durango state, indicates gold recoveries of more than 90% from pressure oxidation followed by cyanidation.
Beleaguered Yukon Zinc lost 2 to close the week at 22.5 on volume of over 6.5 million shares. The company continues to battle investor fallout from a recent feasibility study on its Wolverine zinc-copper-lead deposit indicating elevated cost estimates coupled with a high precious metals royalty structure.
Goldmarca continued to be a volume leader with almost 5.2 million shares changing hands, but gave up 3 to close at 56. A recent 48-metre drill intercept grading 16.7 grams gold per tonne and 222 grams silver from the company’s Condor gold project, in southeastern Ecuador, fired up investors enamoured with the results. The company also grabbed an adjacent land package across the border in northern Peru and has lined up a $10.3-million financing.
With spot uranium prices hitting all-time highs, UrAsia Energy posted volume of almost 4.7 million but lost two pennies to close at $2.34 per share. The company expects this year’s production from its Akdala uranium mine in Kazakhstan to come in at 2.6 million lbs. U3O8, which will be used to meet recently secured supply contracts.
Birch Mountain Resources lost almost 10% on the week, down 65 at $6.28 per share on volume of more than 4 million. The company recently filed an application and environmental impact assessment with the Alberta government for its Hammerstone project, a planned limestone aggregate quarry in the province’s Athabasca region.
International Tower Hill Mines gained a whopping 279% on the week — albeit on a paltry 35,000 shares — closing up 95 at $1.29. The tightly held, sparsely traded company announced a deal to acquire AngloGold Ashanti’s entire Alaskan property portfolio.
Aurelian Resources continued to capture investor attention, rising $2.40 on the week to close at $21.49 per share on volume of almost 1.2 million. Wide, high-grade gold intercepts from its Condor project in southeastern Ecuador have ignited a buying frenzy in the stock, which has seen a recent rise from the $5.00 level.
TSX-V greatest percentage change
| VOLUME(000S) | HIGH | LOW | CLOSE | CHANGE | ||
| Intl Tower Hil | ITH | 35 | 1.29 | 0.54 | 1.29 | +279.4 |
| Tiger Intl | TGR | 18 | 1.80 | 0.80 | 1.80 | +140.0 |
| TTM Res | TTQ | 893 | 0.50 | 0.30 | 0.445 | +53.4 |
| Kakanda Dev | KDC | 51 | 0.24 | 0.16 | 0.24 | +50.0 |
| Getty Copper | GTC | 167 | 0.13 | 0.09 | 0.13 | +44.4 |
| Amerix Pr Mtls | APM | 2485 | 1.15 | 0.62 | 1.02 | +36.0 |
| Intl Chalice R | IRI | 94 | 0.58 | 0.42 | 0.58 | +34.8 |
| Tagish Lk Gold | TLG | 540 | 0.17 | 0.145 | 0.16 | +33.3 |
| Volcanic Mtl E | VME | 1141 | 1.14 | 0.72 | 1.13 | +32.9 |
| Green Valley | GVY | 19 | 0.125 | 0.10 | 0.125 | +31.5 |
| Ivory O&M | IVY | 149 | 0.38 | 0.25 | 0.25 | -44.4 |
| Britannica Res | BRR | 119 | 0.50 | 0.36 | 0.40 | -31.0 |
| RJK Explor | RJX.A | 216 | 0.075 | 0.035 | 0.045 | -30.7 |
| New Guinea Gld | NGG | 2678 | 0.41 | 0.29 | 0.30 | -30.2 |
| Atapa Mnrls | AML | 273 | 0.12 | 0.10 | 0.105 | -30.0 |
| Aurea Mng | MXA | 157 | 0.29 | 0.22 | 0.22 | -27.8 |
| Lakewood Mng | LKW | 49 | 0.11 | 0.08 | 0.08 | -27.2 |
| Young-Shan Gld | GYS | 837 | 0.18 | 0.13 | 0.135 | -27.0 |
| Aquila Res | AQA | 1193 | 0.85 | 0.69 | 0.70 | -26.3 |
| Gold World Res | GDW | 167 | 0.245 | 0.20 | 0.20 | -25.9 |
TSX-V greatest value change
| VOLUME | CLOSE | CHANGE | ||
| Aurelian Res | ARU | 1176524 | 21.49 | +2.49 |
| Northern Dyn M | NDM | 1198517 | 10.10 | +1.10 |
| Tiger Intl | TGR | 17900 | 1.80 | +1.05 |
| Intl Tower Hil | ITH | 34500 | 1.29 | +0.95 |
| Mega Uranium | MGA | 1628173 | 6.45 | +0.60 |
| Aranka Gold | ARK | 62732 | 3.00 | +0.50 |
| Pac Booker Min | BKM | 14370 | 5.75 | +0.50 |
| AuEx Vent | XAU | 378916 | 1.93 | +0.39 |
| First Majestic | FR | 356565 | 4.25 | +0.36 |
| Palmarejo Gold | PJO | 93915 | 8.20 | +0.35 |
| Arizona Star | AZS | 116847 | 11.09 | -1.41 |
| Birch Mountn | BMD | 4084195 | 6.28 | -0.65 |
| Polymet Mng | POM | 955586 | 2.80 | -0.40 |
| Uruguay Mnl Ex | UME | 116700 | 4.10 | -0.40 |
| Dynasty Met&Mn | DMM | 185348 | 4.79 | -0.40 |
| Chesapeake Gld | CKG | 55479 | 4.74 | -0.36 |
| Triex Minerals | TXM | 125406 | 2.00 | -0.35 |
| NFX Gold | NFX | 823103 | 1.11 | -0.34 |
| Sunridge Gold | SGC | 349633 | 1.81 | -0.32 |
| Asia Gold | ASG | 31250 | 2.15 | -0.30 |
TSX-V most active issues
| VOLUME(000S) | HIGH | LOW | CLOSE | CHANGE | ||
| Plexmar Res | PLE | 8006 | 0.335 | 0.255 | 0.30 | +0.01 |
| ECU Silver Mng | ECU | 7057 | 2.92 | 2.01 | 2.60 | +0.17 |
| Yukon Zinc | YZC | 6559 | 0.245 | 0.195 | 0.225 | -0.02 |
| Goldmarca | GML | 5168 | 0.65 | 0.51 | 0.56 | -0.03 |
| UrAsia Energy | UUU | 4675 | 2.65 | 1.95 | 2.34 | -0.02 |
| Birch Mountn | BMD | 4084 | 6.95 | 5.30 | 6.28 | -0.65 |
| KWG Res | KWG | 3451 | 0.05 | 0.035 | 0.04 | -0.05 |
| Tyhee Dvlpmnt | TDC | 3353 | 0.39 | 0.32 | 0.38 | +0.02 |
| Strateco Res | RSC | 3025 | 1.00 | 0.71 | 0.90 | +0.06 |
| Tournigan Gold | TVC | 2994 | 1.80 | 1.43 | 1.68 | -0.07 |
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