The S&P/TSX Venture Composite Index lost 2.7%, or 26 points, before closing the trading week at 929.37 points. Metal and energy futures struggled as markets kept an eye on the U.S. debt impasse. Meanwhile, trade data out of China showed weak global demand, with September exports dropping 0.3% to US$186 billion.
Gold futures were hit hard by uncertainty in the U.S., with December contracts for bullion losing 3.9%, or US$51.50, en route to a US$1,271.90 per oz. close. Energy futures didn’t fare well either, as November contracts for West Texas Intermediate crude oil dropped 1.3%, or US$1.32, before closing at US$101.82 per barrel. Copper was a bright spot, with December contracts for the red metal declining US2.6¢, en route to a US$3.27 per lb. weekly close.
Junior explorer Kennady Diamonds topped the value-added category during the week after news of dual-financing deals showed market support for the company’s Kennady North diamond project in the Northwest Territories. Kennady finished the trading period up 60¢ at $5.50 per share.
The company increased a non-brokered private placement from $7 million to $8 million on Oct. 10, after “heavy demand” when it priced each common share at $4.75. Kennady also raised $4 million in flow-through shares after a bought-deal private placement with lead underwriter Dundee Securities. The company will issue 728,000 flow-through shares at $5.50 per share. Kennady intends to use the proceeds on a 10,000-metre drill program at Kennady North in the next few months, as well as on a 5,000-metre program in mid-2014.
Having had its trading suspended in August 2012, Vancouver-based Barkerville Gold Mines resumed trading on Oct. 9, and shares promptly dropped 72¢ before closing out the week at 50¢ per share on 3.5 million shares traded. The B.C. Securities Commission had stopped trading in Barkerville after a technical report on its Cow Mountain gold deposit was deemed inadequate. In early July the company amended its technical report, which resulted in a 90% drop in indicated-gold ounces at Cow Mountain. Shares could have been trading months ago, but Barkerville delayed trading until it completed a new $15-million gold loan facility with 2176423 Ontario Ltd., which is reportedly controlled by Eric Sprott.
Hunter Dickinson’s Rathdowney Resources lost 38%, or 15¢, before closing at 25¢. On Oct. 8 the company announced the results of a study on silver mineralization at its Olza project, 70 km northwest of Krakow, Poland. Metallurgical tests show standard zinc and lead flotation conditions with 83% silver recoveries to the zinc concentrate.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| RPT Uranium | RPT | 12893 | 0.01 | 0.01 | 0.01 | 0 | |
| East Asia Mnls | EAS | 8713 | 0.1 | 0.04 | 0.06 | – | 0.04 |
| Belvedere Res | BEL | 5519 | 0.04 | 0.03 | 0.04 | – | 0.02 |
| El Condor Mnls | LCO | 4962 | 0.02 | 0.01 | 0.01 | + | 0.01 |
| Aldrin Res | ALN | 4932 | 0.14 | 0.11 | 0.12 | 0 | |
| Northern Gld M | NGM | 4765 | 0.06 | 0.04 | 0.05 | + | 0.01 |
| North Am Nickl | NAN | 4126 | 0.44 | 0.34 | 0.34 | – | 0.06 |
| Appalaches Res | APP | 3979 | 0.12 | 0.11 | 0.11 | + | 0.01 |
| Northern Iron | NFE | 3790 | 0.02 | 0.01 | 0.01 | – | 0.01 |
| Fission Uran | FCU | 3668 | 1.21 | 1.16 | 1.18 | – | 0.02 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Pinestar Gold | PNS | 123 | 0.14 | 0.03 | 0.1 | + | 566.6 |
| Golden Dawn Ml | GOM | 190 | 0.02 | 0.01 | 0.02 | + | 200 |
| Regent Vents | REV | 200 | 0.02 | 0.01 | 0.02 | + | 200 |
| First Mexican | FMG | 222 | 0.09 | 0.03 | 0.06 | + | 200 |
| Alexander Nubi | AAN | 1549 | 0.05 | 0.02 | 0.05 | + | 200 |
| Softrock Mnrl | SFT | 133 | 0.03 | 0.02 | 0.03 | + | 200 |
| Noble Mnl Expl | NOB | 2819 | 0.06 | 0.03 | 0.06 | + | 175 |
| Amanta Res | AMH | 100 | 0.01 | 0.01 | 0.01 | + | 100 |
| El Condor Mnls | LCO | 4962 | 0.02 | 0.01 | 0.01 | + | 100 |
| Goldex Res | GDX | 550 | 0.01 | 0.01 | 0.01 | + | 100 |
| Mainstream Mnl | MJO | 128 | 0.02 | 0.01 | 0.01 | – | 66.6 |
| Cobalt Coal | CCF | 983 | 0.02 | 0.01 | 0.01 | – | 66.6 |
| Gem Intl Res | GI | 150 | 0.03 | 0.02 | 0.02 | – | 66.6 |
| Signature Res | SGU | 20 | 0.03 | 0.03 | 0.03 | – | 64.7 |
| Iconic Mnls | ICM | 52 | 0.04 | 0.03 | 0.03 | – | 61.5 |
| Barkerville Go | BGM | 3484 | 0.63 | 0.48 | 0.5 | – | 59 |
| Laurentian Glf | LGF | 99 | 0.06 | 0.04 | 0.04 | – | 52.9 |
| Canuc Res | CDA | 170 | 0.03 | 0.02 | 0.02 | – | 50 |
| Auracle Res | AAL | 2500 | 0.01 | 0.01 | 0.01 | – | 50 |
| Black Isle Res | BIT | 53 | 0.01 | 0.01 | 0.01 | – | 50 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Kennady Diam | KDI | 87247 | 5.5 | + | 0.6 |
| Gold Reach Res | GRV | 297773 | 1.45 | + | 0.53 |
| Athabasca Mnls | ABM | 461827 | 1.35 | + | 0.26 |
| Gold Std Vnt | GSV | 1929288 | 0.92 | + | 0.22 |
| Atacama Pac Gd | ATM | 15500 | 1.45 | + | 0.14 |
| Stina Res | SQA | 172000 | 0.3 | + | 0.1 |
| Taipan Res | TPN | 3449560 | 0.39 | + | 0.09 |
| Pinestar Gold | PNS | 122850 | 0.1 | + | 0.09 |
| Atlatsa Res | ATL | 24166 | 0.44 | + | 0.08 |
| Great Bear Res | GBR | 427273 | 0.15 | + | 0.08 |
| Lumina Copper | LCC | 293513 | 5.37 | – | 0.92 |
| Barkerville Go | BGM | 3483894 | 0.5 | – | 0.72 |
| Aurcana Corp | AUN | 430163 | 1.53 | – | 0.37 |
| Bear Creek Mng | BCM | 386397 | 2.19 | – | 0.31 |
| Alpha Mnls | AMW | 903411 | 6.13 | – | 0.16 |
| Mirasol Res | MRZ | 120916 | 1.08 | – | 0.16 |
| Reservoir Mnls | RMC | 247553 | 4.52 | – | 0.15 |
| Rathdowney Res | RTH | 212126 | 0.25 | – | 0.15 |
| Diamcor Mng | DMI | 13179 | 1.45 | – | 0.14 |
| Roxgold | ROG | 571793 | 0.57 | – | 0.13 |
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