The junior mining-dominated TSX Venture Composite Index continued to build on recent gains to close at a new high of 2,770.56 over the March 21-27 session, up 95.23 points, or 3.6%. Average daily trading volumes also strengthened to 78 million shares over the period.
The number of junior explorers reaching new 52-week highs soared to 165 over the week while just 16 companies slipped to new annual lows.
Yukon Zinc took the week’s top trading honours, gaining 12, or 23%, to close at 64 on volume of almost 22 million shares. Having recently arranged project financing agreements for its planned development of the Wolverine zinc-copper-lead deposit in the eastern Yukon, the company is benefiting from record high zinc prices that are closing in on US$1.20 per lb.
Second-most-active trader was Forsys Metals, which soared 78%, or $1.05, to close the session at $2.40 per share on 18.4 million shares. The explorer, focused on Namibian uranium, recently reported initial drill results from its Valencia project with intercepts of up to 0.046% U3O8 over 15.8 metres.
Solitaire Minerals notched up a nickel to close at 28.5 on 10.6 million shares. The company is gearing up for a 20-hole drill program on its Red Lake, Ont.-area Chukuni gold project and also recently acquired an iron oxide-copper-gold project in the Great Bear Lake region of the Northwest Territories.
Shares of North American Gem traded up 2.5 to close at 23 on volume of 10.5 million. Drilling on the company’s southern-Alberta Whiskey Gap uranium project returned anomalous radioactivity within sandstones from the first 10 holes of the minimum 40-hole program. The company also awaits results from a recently completed 12-hole drill program on its Louise Lake copper-gold-molybdenum project, in northwestern B.C., where a resource study is under way.
Antoro Resources continued to enjoy a trading bubble, posting over 10 million shares of volume, but shedding a penny to close at 9; the company is optioning a couple of Quebec uranium projects.
Spider Resources saw almost 10 million shares change hands, closing up a half-penny at 7.5 per share. Drilling near its McFaulds Lake VMS project, in the James Bay region, encountered high-grade chrome along with some PGMs. The company is reviewing an independent report on its Wawa, Ont., diamond project with partner KWG Resources.
With environmental approvals now in hand for its San Jose gold-silver project in Argentina, Minera Andes traded 8.9 million shares on the week and gained 31, or over 27%, to close at $1.44. The company and partner Mauricio Hochschild are now moving to get the project to production.
Following initial drill assays from its Caribou Lake property in the Northwest Territories, Kodiak Exploration’s share price was essentially halved, down $1.16 to close the week at $1.19 on volume of over 6.7 million shares. Hole 06-01 returned 5.4 metres of 0.5% copper, 0.36% nickel and 0.05% cobalt.
TSX-V greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Sedex Mng | SDN | 2505 | 0.285 | 0.11 | 0.21 | +90.9 |
| NFX Gold | NFX | 2420 | 3.00 | 1.41 | 2.80 | +85.4 |
| Carpathian Gld | CPN | 4187 | 0.79 | 0.39 | 0.76 | +85.3 |
| Forsys Metals | FSY | 18428 | 2.54 | 1.13 | 2.40 | +77.7 |
| Abitibi Mng | ABB.H | 915 | 0.12 | 0.065 | 0.12 | +71.4 |
| Aurcana Corp | AUN | 3187 | 0.57 | 0.34 | 0.57 | +67.6 |
| Alhambra Res | ALH | 974 | 2.10 | 1.28 | 2.10 | +59.0 |
| Red Lake Res | RL | 4205 | 0.145 | 0.08 | 0.135 | +58.8 |
| Klondike Gold | KG | 6015 | 0.225 | 0.12 | 0.195 | +56.0 |
| Mena Res | MEA | 265 | 1.20 | 0.78 | 1.20 | +53.8 |
| Colibri Res wt | CBI.WT | 55 | 0.035 | 0.03 | 0.03 | -57.1 |
| Kodiak Expl | KXL | 6778 | 3.37 | 1.13 | 1.19 | -49.3 |
| Penteco Res | PEN | 306 | 0.375 | 0.275 | 0.275 | -27.6 |
| Northern Hemis | NHD | 822 | 0.49 | 0.35 | 0.36 | -26.5 |
| Northern Conti | NCR | 4004 | 0.44 | 0.31 | 0.32 | -25.5 |
| Solid Res | SRW | 125 | 1.10 | 0.85 | 0.86 | -21.8 |
| Northern Crown | CXP | 1673 | 0.10 | 0.075 | 0.075 | -21.0 |
| Sutter Gold | SGM | 154 | 0.26 | 0.23 | 0.23 | -20.6 |
| Forest Gate | FGT | 1790 | 0.34 | 0.26 | 0.27 | -19.4 |
| Stellar Pac Vt | SPX | 2801 | 0.29 | 0.20 | 0.21 | -19.2 |
TSX-V greatest value change
| VOLUME | CLOSE | CHANGE | ||
| Palmarejo Gold | PJO | 85186 | 10.30 | +1.50 |
| Mega Uranium | MGA | 1645211 | 10.10 | +1.49 |
| Seabridge Gold | SEA | 129410 | 10.26 | +1.31 |
| NFX Gold | NFX | 2420062 | 2.80 | +1.29 |
| Forsys Metals | FSY | 18428168 | 2.40 | +1.05 |
| Alhambra Res | ALH | 973981 | 2.10 | +0.78 |
| Primary Metals | PMI | 171175 | 4.74 | +0.74 |
| Dynasty Met&Mn | DMM | 280265 | 4.20 | +0.67 |
| Bear Creek Mng | BCM | 1306319 | 6.25 | +0.66 |
| Northern Dyn M | NDM | 857981 | 7.25 | +0.64 |
| Kodiak Expl | KXL | 6778011 | 1.19 | -1.16 |
| Sacre-Coeur Ml | SCM | 1532314 | 2.50 | -0.49 |
| Arizona Star | AZS | 608647 | 10.20 | -0.45 |
| Cardero Res | CDU | 254833 | 3.40 | -0.35 |
| Solid Res | SRW | 125210 | 0.86 | -0.24 |
| Norsemont Mng | NOM | 168710 | 3.35 | -0.23 |
| Mosquito Cons | MSQ | 126070 | 1.35 | -0.23 |
| Keegan Res | KGN | 475978 | 1.84 | -0.19 |
| TLC Vent | TLV | 29033 | 1.05 | -0.18 |
| Metalcorp | MTC | 658382 | 1.91 | -0.17 |
TSX-V most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | ||
| Yukon Zinc | YZC | 21950 | 0.68 | 0.48 | 0.64 | +0.12 |
| Forsys Metals | FSY | 18428 | 2.54 | 1.13 | 2.40 | +1.05 |
| Solitaire Mnls | SLT | 10598 | 0.33 | 0.255 | 0.285 | +0.05 |
| North Am Gem | NAG | 10493 | 0.325 | 0.20 | 0.23 | +0.025 |
| Antoro Res | ORE | 10084 | 0.095 | 0.075 | 0.09 | -0.01 |
| Spider Res | SPQ | 9924 | 0.075 | 0.06 | 0.075 | +0.005 |
| Minera Andes | MAI | 8928 | 1.50 | 1.10 | 1.44 | +0.31 |
| Kodiak Expl | KXL | 6778 | 3.37 | 1.13 | 1.19 | -1.16 |
| Plexmar Res | PLE | 6353 | 0.19 | 0.14 | 0.18 | +0.025 |
| Klondike Gold | KG | 6015 | 0.225 | 0.12 | 0.195 | +0.07 |
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