With gold rising to a 28-year high around US$790 per oz., junior miners strongly rallied over the Oct. 23-29 trading session. The S&P-TSX Venture Composite Index posted an almost 6% gain to close up 171.81 points at 3,150.62, while average daily trading volume for the week was a robust 142.5 million shares.
The margin between new yearly share price lows and highs continued to narrow over the period with 63 companies slipping to new annual lows and 57 posting 52-week highs.
McFaulds Lake VMS joint-venture partners Spider Resources and KWG Resources remained strong traders on the week with volume of 65.3 million and 27.7 million shares, respectively. Spider closed off 3.5 at 14 and KWG was down a half a penny at 14 per share. Recent drilling by Spider on a project in the area partnered with KWG and UC Resources returned up to 4.4 metres of 0.84% copper in semi-massive sulphides.
Hawkeye Gold & Diamond saw almost 52 million shares change hands to post a 3 gain, closing the session at 10.5 per share. It recently boosted its land position in the Red Lake area of northwestern Ontario.
Continued speculation on pending Eaglehead project assays kept Carmax Explorations an active trader with volume of 50.6 million shares, closing up 2.5 at 30. The company also expanded its holdings around the north-central B.C. property.
Sage Gold and Alto Ventures — neighbours to Kodiak Exploration’s Hercules gold discovery in the northwestern Ontario Beardmore-Geraldton greenstone belt — both captured investor interest during the period. Sage saw 45.4 million shares change hands, closing down 3 at 45, while Alto gave up 2.5 to close at 24 per share on trading volume of 19.5 million shares.
MacDonald Mines Exploration remained a strong trader on the week, closing up 2 at 82 per share on volume of 42 million shares. The company has a $10-million financing in the works earmarked for its McFaulds Lake-area VMS projects in the James Bay lowlands.
Shares of International Samuel posted a 7 gain to close at 23 apiece on weekly trading volume of 33 million shares. The junior expanded its landholdings in the Snow Lake area of northern Manitoba, near VMS Ventures’ Reed Lake project.
VMS Ventures itself pulled back 2 to close at $1.42 per share on volume of 27.5 million shares. Recent Reed Lake drilling intersected further massive sulphides grading up to 5% zinc and 2% copper over 2.7 metres.
Noront Resources added 20 to its share price on the week, closing at $6.08 on trading volume of 19.8 million shares. Drilling continues at the company’s Double Eagle project in the James Bay lowlands.
On a takeover offer by Barrick Gold, shares of Arizona Star Resource shot up $3.26 to $17.84 apiece on trading volume of 18 million. The gold major is bidding $18 per share to secure the junior’s 51% interest in the Cerro Casale gold-copper project in Chile.
TSX-V greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | |||
| Maximus Vent | MXV | 7290 | 0.86 | 0.41 | 0.85 | + | 93.1 |
| Intl Kirkland | IKI | 6788 | 0.145 | 0.075 | 0.13 | + | 73.3 |
| Moss Lake Gld | MOK | 451 | 0.37 | 0.245 | 0.36 | + | 71.4 |
| Knight Res | KNP | 19154 | 0.59 | 0.22 | 0.355 | + | 69.0 |
| Samex Mng | SXG | 1275 | 1.47 | 0.83 | 1.39 | + | 67.4 |
| Sinchao Mtls | SMZ | 928 | 0.68 | 0.40 | 0.66 | + | 55.2 |
| Odin Mining | ODN | 74 | 0.29 | 0.16 | 0.29 | + | 52.6 |
| NFX Gold | NFX | 3071 | 1.25 | 0.74 | 1.25 | + | 52.4 |
| Great Sthn Ent | GSR | 359 | 0.045 | 0.025 | 0.045 | + | 50.0 |
| Timmins Gold | TMM | 4448 | 1.14 | 0.70 | 1.02 | + | 47.8 |
| Intl Northair | INM | 24 | 0.31 | 0.21 | 0.24 | – | 46.6 |
| Diamcor Mng | DMI | 80 | 1.17 | 0.70 | 0.70 | – | 39.1 |
| Northern Conti | NCR | 1209 | 0.33 | 0.23 | 0.23 | – | 30.3 |
| Gulfside Mnls | GMG | 546 | 2.10 | 1.04 | 1.05 | – | 30.0 |
| Grid Capital | GID | 30 | 0.155 | 0.11 | 0.11 | – | 29.0 |
| Nikos Expl | NIK | 316 | 0.23 | 0.15 | 0.15 | – | 26.8 |
| Yamiri Gold &E | YGI | 18 | 0.22 | 0.155 | 0.21 | – | 26.3 |
| Getty Copper | GTC | 685 | 0.135 | 0.10 | 0.10 | – | 25.9 |
| Golden Odyss M | GOE | 597 | 0.18 | 0.14 | 0.14 | – | 24.3 |
| Tres-Or Res | TRS | 407 | 0.22 | 0.18 | 0.19 | – | 24.0 |
TSX-V greatest value change
| VOLUME | CLOSE | CHANGE | |||
| Arizona Star | AZS | 17992099 | 17.84 | + | 3.26 |
| Osisko Explora | OSK | 1633795 | 7.15 | + | 1.55 |
| Pan Oce Exp | POE | 2843609 | 9.95 | + | 1.30 |
| Xemplar Energy | XE | 3830964 | 4.10 | + | 1.13 |
| Anooraq Res | ARQ | 2096124 | 5.28 | + | 1.08 |
| Andina Mnls | ADM | 6219385 | 5.20 | + | 0.92 |
| Palmarejo S&G | PJO | 203189 | 9.95 | + | 0.70 |
| Geologix Ex | GIX | 3885629 | 2.78 | + | 0.68 |
| Waratah Coal | WCI | 869040 | 2.81 | + | 0.66 |
| Anglo Mnrls | ALM | 1237415 | 4.10 | + | 0.65 |
| Diamcor Mng | DMI | 80390 | 0.70 | – | 0.45 |
| Gulfside Mnls | GMG | 545745 | 1.05 | – | 0.45 |
| Clifton Star | CFO | 21150 | 2.12 | – | 0.38 |
| Tournigan Gold | TVC | 2434489 | 2.31 | – | 0.37 |
| Duran Vent | DRV | 567510 | 2.03 | – | 0.30 |
| Pearl Ex & Pr | PXX | 702313 | 3.43 | – | 0.30 |
| Fancamp Expl | FNC | 4323640 | 1.90 | – | 0.30 |
| Pac Booker Min | BKM | 23425 | 10.70 | – | 0.24 |
| Intl Northair | INM | 23935 | 0.24 | – | 0.21 |
| Reunion Gold | RGD | 27100 | 1.25 | – | 0.19 |
TSX-V most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | |||
| Spider Res | SPQ | 65314 | 0.22 | 0.13 | 0.14 | – | 0.035 |
| Hawkeye Gold | HKO | 51869 | 0.14 | 0.07 | 0.105 | + | 0.03 |
| Carmax Expl | CMX | 50585 | 0.35 | 0.195 | 0.30 | + | 0.025 |
| Sage Gold | SGX | 45409 | 0.61 | 0.405 | 0.45 | – | 0.03 |
| MacDonald Mns | BM K |
41951 | 0.94 | 0.72 | 0.82 | + | 0.02 |
| Intl Samuel Ex | SAZ | 33077 | 0.275 | 0.16 | 0.23 | + | 0.07 |
| KWG Res | KWG | 27677 | 0.175 | 0.13 | 0.14 | – | 0.005 |
| VMS Vent | VMS | 27507 | 1.70 | 1.26 | 1.42 | – | 0.02 |
| Noront Res | NOT | 19829 | 7.05 | 5.86 | 6.08 | + | 0.20 |
| Alto Vent | ATV | 19510 | 0.34 | 0.215 | 0.24 | – | 0.025 |
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