The S&P/TSX Venture Composite Index racked up a week of straight losses totalling 2.3%, or 23.4 points, before closing at 991.1. Statsistics Canada reported that the country lost 28,900 jobs in April. Meanwhile, commodity futures were relatively flat despite positive inflation news out of China, where consumer prices rose 1.8% year-on-year, which could give the central government more room to apply stimulus measures.
June contracts for gold bullion dropped US$11.90 during the week and closed at US$1,288.80 per oz. Copper rose on the positive Chinese economic data late in the week, as July contracts for the red metal gained US3.2¢ before closing at US$3.09 per lb.
Explorer Kennady Diamonds led the value-added category after updating shareholders on its exploration efforts at its wholly owned Kennady North project in the Northwest Territories. Shares jumped 80¢ before closing out the week at $5.95. On May 8 Kennady released results from delineation drilling at its Faraday kimberlite, which found a kimberlite “blow” in the Faraday 3 area. The company says that the discovery could increase the tonnage of the target, with the Faraday kimberlite mapped over a 1 km strike length.
Calgary-based Bacanora Minerals had a strong trading week following exploration results from its Sonora Lithium project, 180 km northeast of Hermosillo, Mexico. The company gained 28¢ on 1.4 million shares traded before closing at 72¢ per share. Bacanora released drill results from concessions at Sonora held under a joint venture with London-listed Rare Earth Minerals. Results from 11 holes on the El Sauz and Fleur concessions returned “significant lithium intercepts,” including: 15 metres grading 1.93% lithium carbonate from 44 metres depth in hole ES-31, and 17 metres of 0.91% Li2CO3 from 107 metres depth in hole ES-35.
Junior Brilliant Resources led the volume-traded column during the week after Toronto-based private equity firm Salida Capital International acquired 2.7% of the company’s shares via funds it manages and advises. Salida picked up 4 million shares of Brilliant at 8.5¢ each to bring its equity stake up to 19.67%. Brilliant saw 13 million of its shares change hands during the trading period, as it dropped 3¢ en route to a 6¢ close.
Brilliant is collaborating with the government of Equatorial Guinea to develop the country’s mineral assets. The company is running airborne geophysics and geological interpretation in return for first rights to mineral concessions equal to 15% of the area flown. To date surveying has found over 3,000 geophysical anomalies and generated 234 exploration targets.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Brilliant Res | BLT | 13142 | 0.1 | 0.06 | 0.06 | – | 0.03 |
| Temex Res | TME | 10669 | 0.08 | 0.07 | 0.07 | – | 0.01 |
| Largo Res | LGO | 8869 | 0.29 | 0.26 | 0.27 | – | 0.02 |
| Fission Uran | FCU | 8853 | 1.28 | 1.04 | 1.13 | – | 0.15 |
| Red Pine Expl | RPX | 7000 | 0.05 | 0.04 | 0.05 | + | 0.01 |
| Gold Canyon | GCU | 6368 | 0.29 | 0.25 | 0.27 | – | 0.03 |
| WestStar Res | WER | 5769 | 0.06 | 0.04 | 0.04 | 0 | |
| Guyana Prec Mt | GPM | 5685 | 0.09 | 0.07 | 0.07 | – | 0.01 |
| Lomiko Mtls | LMR | 5679 | 0.08 | 0.06 | 0.07 | – | 0.01 |
| Papuan Prec Mt | PAU | 5330 | 0.15 | 0.1 | 0.11 | – | 0.02 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Bard Vent | CBS | 367 | 0.04 | 0.02 | 0.03 | + | 150 |
| Auracle Res | AAL | 1297 | 0.02 | 0.01 | 0.01 | + | 100 |
| Bonterra Res | BTR | 577 | 0.01 | 0.01 | 0.01 | + | 100 |
| Cascadero Copp | CCD | 100 | 0.01 | 0.01 | 0.01 | + | 100 |
| Thor Expl | THX | 75 | 0.07 | 0.05 | 0.07 | + | 75 |
| Northern Iron | NFE | 1743 | 0.04 | 0.03 | 0.04 | + | 75 |
| Running Fox Rs | RUN | 382 | 0.04 | 0.03 | 0.04 | + | 75 |
| Anconia Res | ARA | 226 | 0.1 | 0.06 | 0.1 | + | 72.7 |
| Seafield Res | SFF | 1984 | 0.03 | 0.02 | 0.03 | + | 66.6 |
| Noble Mnl Expl | NOB | 3677 | 0.03 | 0.02 | 0.03 | + | 66.6 |
| MPH Vent | MPS | 482 | 0.01 | 0.01 | 0.01 | – | 50 |
| Anglo Swiss | ASW | 254 | 0.01 | 0.01 | 0.01 | – | 50 |
| Plato Gold | PGC | 140 | 0.01 | 0.01 | 0.01 | – | 50 |
| Sennen Res | SN | 75 | 0.09 | 0.07 | 0.07 | – | 50 |
| Baroyeca Go&Si | BGS | 83 | 0.02 | 0.02 | 0.02 | – | 40 |
| Laurion Mnl Ex | LME | 258 | 0.03 | 0.02 | 0.02 | – | 40 |
| Copper Ck Gold | CPV | 11 | 0.02 | 0.02 | 0.02 | – | 40 |
| Zonte Mtls | ZON | 78 | 0.08 | 0.06 | 0.06 | – | 38.8 |
| Corazon Gold | CGW | 17 | 0.23 | 0.12 | 0.13 | – | 37.5 |
| Fort St J Nick | FTJ | 97 | 0.06 | 0.04 | 0.04 | – | 33.3 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Kennady Diam | KDI | 105814 | 5.95 | + | 0.8 |
| Lumina Copper | LCC | 131525 | 5.9 | + | 0.63 |
| Bacanora Mnls | BCN | 1411545 | 0.72 | + | 0.28 |
| Reservoir Mnls | RMC | 140501 | 6.41 | + | 0.17 |
| Great Quest Me | GQ | 173989 | 1.54 | + | 0.14 |
| Gold Reserve | GRZ | 22489 | 3.61 | + | 0.11 |
| Nevada Sunrise | NEV | 426890 | 1.15 | + | 0.1 |
| Doubleview Cap | DBV | 2124483 | 0.35 | + | 0.09 |
| Taipan Res | TPN | 3280291 | 0.49 | + | 0.09 |
| Cordoba Mnls | CDB | 50000 | 0.4 | + | 0.06 |
| Pac Booker Min | BKM | 25678 | 5 | – | 0.75 |
| Tasman Metals | TSM | 90388 | 1.38 | – | 0.23 |
| Probe Mines | PRB | 1483207 | 2.26 | – | 0.19 |
| American Vanad | AVC | 1253505 | 0.54 | – | 0.16 |
| Fission Uran | FCU | 8853331 | 1.13 | – | 0.15 |
| Flinders Res | FDR | 948200 | 0.83 | – | 0.13 |
| Eurasian Minls | EMX | 47506 | 0.9 | – | 0.12 |
| Anfield Nickel | ANF | 742389 | 0.91 | – | 0.12 |
| Abitibi Royalt | RZZ | 20919 | 1.5 | – | 0.1 |
| Astur Gold | AST | 63040 | 0.28 | – | 0.09 |
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