TSX Venture Exchange Sept 4-10, 2007

A rally in gold through the US$700-per-oz. spot price level prompted modest gains in the S&P-TSX Venture Composite Index over the Sept. 4-10 trading session, with the index inching up 20.56 points to close at 2,668.37. Average daily trading volumes also saw a slight boost to 74.2 million shares.

Despite the strong bullion price, the junior market remained bearish, with only 13 exploration companies managing new 52-week highs over the session, while 105 slipped to new annual lows.

Noront Resources remained top trader on the week after it released initial assay results from its Double Eagle project in northern Ontario’s James Bay Lowlands. The stock more than doubled, closing up 89 at $1.74 per share on volume of over 28.5 million shares. Partial results from the first hole returned 36 metres averaging 1.84% nickel and 1.53% copper, with further results pending.

The surge in gold prompted an 8% rise in Peak Gold, which closed the week up four pennies at 54 per share on trading volume of more than 17 million shares. Earlier this year, the company acquired the Peak mine, in Australia, and the Amapari mine, in Brazil, from Goldcorp.

Both Spider Resources and KWG Resources remained strong traders on the session, posting trading volumes of 14 million shares and 6.1 million shares, respectively. The joint-venture partners hold the McFaulds Lake VMS project, which is adjacent to Noront’s recent discovery.

Shares of Tamerlane Ventures closed down 35%, off 63 at $1.18 apiece on trading volume of almost 7.7 million. The company recently received a positive feasibility study for its Point lead-zinc deposit in the Northwest Territories.

San Gold posted a 27% gain to close up 30 at $1.40 per share on trading volume of 5.6 million shares. Recent deep drilling at its Rice Lake gold mine, in eastern Manitoba, discovered multiple new mineralized zones with intercepts of up to 6.5 metres grading 30.7 grams gold per tonne.

Seabridge Gold posted a strong gain of $7.57 on the week to close at $32.27 per share. Recent drilling on its Kerr-Sulphurets project, near Stewart, in northwestern B.C., returned intercepts of up to 469.6 metres grading 0.83 gram gold and 0.26% copper, and has expanded the Mitchell porphyry zone.

Bell Resources and Grandcru Resources both posted drops of 32% on the trading session, closing at 34 and 8.5 per share, respectively. The companies tabled merger plans along with private company Rogue River Resources to consolidate the trio’s copper projects in Canada, U.S., Mexico and Chile.

Osisko Exploration posted a 13% gain on the week to close up 65 at $5.60 per share on trading volume of 915,000 shares. The company has been growing the resource at its Malartic gold deposit, in Quebec, and evaluating other nearby mineralized zones. The company recently contracted an engineering firm to complete a feasibility study on the large gold deposit.

TSX-V greatest percentage change

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Probe Mines	PRB	1260	0.40	0.17	0.39	+	105.2
Noront Res	NOT	28524	1.82	0.76	1.74	+	104.7
Hellix Vent	HEL	760	0.60	0.39	0.59	+	55.2
MacDonald Mns	BMK	8243	0.14	0.075	0.12	+	50.0
Fancamp Expl	FNC	159	0.38	0.18	0.35	+	45.8
Royal Standard	RSM	1595	0.66	0.45	0.64	+	43.8
SNS Silver	SNS	507	1.05	0.69	0.99	+	43.4
ATW Venture	ATW	198	0.58	0.45	0.58	+	43.2
Rockgate Cap	RGT	454	1.77	1.11	1.60	+	39.1
Ruby Red Res	RRX	76	0.28	0.20	0.25	+	38.8
Hawkeye Gold	HKO	286	0.04	0.015	0.035	–	46.1
Spruce Ridge R	SHL	121	0.35	0.25	0.25	–	44.4
Zappa Res	ZPA	923	0.195	0.12	0.12	–	36.8
Tamerlane Vent	TAM	7679	1.81	1.06	1.18	–	34.8
Grandcru Res	GR	3008	0.115	0.08	0.085	–	32.0
Bell Res	BL	465	0.47	0.34	0.34	–	32.0
Mexican Silver	MSM	451	1.25	0.80	0.87	–	30.4
Gee-Ten Vent	GTV	913	0.275	0.195	0.195	–	26.4
Lounor Expl	LO	67	0.19	0.145	0.145	–	25.6
Verdstone Gold	VGC	163	0.105	0.09	0.09	–	25.0

TSX-V greatest value change

		VOLUME	CLOSE		CHANGE
Seabridge Gold	SEA	245316	32.27	+	7.57
Noront Res	NOT	28523770	1.74	+	0.89
Mag Silver	MAG	450056	13.84	+	0.84
Aranka Gold	ARK	67908	3.24	+	0.69
Chesapeake Gld	CKG	155623	5.90	+	0.65
Osisko Explora	OSK	914909	5.60	+	0.65
Salazar Res	SRL	615466	2.95	+	0.57
Andina Mnls	ADM	369654	3.17	+	0.53
Uruguay Mnl Ex	UME	70400	3.25	+	0.53
Mawson Res	MAW	891124	1.96	+	0.49
Azimut Expl	AZM	348802	4.20	–	1.30
SouthGobi Engy	SGQ	14600	5.50	–	1.00
Tamerlane Vent	TAM	7679079	1.18	–	0.63
Whitemud Res	WMK	49850	10.00	–	0.50
Northland Res	NAU	207107	3.67	–	0.49
Palmarejo S&G	PJO	326695	9.25	–	0.49
Anooraq Res	ARQ	1923356	2.87	–	0.48
Triex Minerals	TXM	139197	2.80	–	0.40
Mexican Silver	MSM	451480	0.87	–	0.38
Zeox	ZOX	381610	2.19	–	0.37

TSX-V most active issues

		VOLUME(000s)	HIGH	LOW	CLOSE		CHANGE
Noront Res	NOT	28524	1.82	0.76	1.74	+	0.89
Peak Gold	PIK	17039	0.59	0.48	0.54	+	0.04
Spider Res	SPQ	14014	0.06	0.035	0.055	+	0.015
Rockwell Diam	RDI	9376	0.71	0.58	0.58	–	0.12
MacDonald Mns	BM K	8243	0.14	0.075	0.12	+	0.04
Yukon Zinc	YZC	7705	0.24	0.195	0.205	–	0.01
Tamerlane Vent	TAM	7679	1.81	1.06	1.18	–	0.63
Montello Res	MEO	7642	0.16	0.14	0.15	+	0.005
KWG Res	KWG	6157	0.055	0.04	0.05	+	0.005
San Gold Res	SGR	5604	1.50	1.09	1.40	+	0.30