The S&P/TSX Venture Composite Index spent much of the week in the red before closing down 4 points at 983.99. Markets were hit by declining commodity futures, while Statistics Canada reported that the nation’s gross domestic product rose 0.3% in the first quarter, in the smallest gain since the fourth quarter of 2012.
August contracts for gold bullion lost 3.5% — or US$45.70 during weekly trading — before closing at US$1,246 per oz. July contracts for copper declined US3.3¢ before finishing the trading period at US$3.13 per lb.
Graphite explorer Xmet led the volume-traded category after filing its first-quarter financial statements and updating its Blackflake West target, 60 km northwest of Hearst, Ont. The company traded 11.3 million shares during the week, as it lost 5¢ before closing at 3¢ per share.
On May 30 Xmet announced it had positive working capital of $678,000, which is enough to fund its plans to drill test an “all-channel VTEM response graphite target” at Blackflake West.
Nevada-focused explorer Gold Standard Ventures jumped 14¢ on 1.6 million shares traded after selling its non-core, early stage exploration assets — namely the Crescent Valley, East Camp Douglas and East Bailey projects — to Tanqueray Exploration. Gold Standard will receive 60 million shares in Tanqueray and $150,000 in cash for the property package.
Gold Standard president and CEO Jonathan Awde stated that the company will focus on its resource-stage Railroad–Pinion gold project along the Carlin Trend. Tanqueray rose 300% en route to a 4¢-per-share close.
Solvista Gold gained 200%, or 12¢ during the week, before closing at 18¢ per share after releasing an exploration update from its Caramanta project, which lies along the the central Middle Cauca gold belt in Colombia. The company optioned the asset to Iamgold in late December, with the producer entitled to earn a 70% interest through US$36 million in “qualifying expenditures” over eight years.
On May 26 Solvista announced that Iamgold had assigned a dedicated exploration team to Caramanta, with the goal of resuming drilling by the third quarter. Work currently includes: a mobile metal ion soil-sampling program focused on ridges and spurs across the property; a 27 line km ground-magnetic survey within the area of the Caramanta porphyry cluster; and detailed geological mapping and sampling at the Malabrigo and Casa Verde targets.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Xmet | XME | 11303 | 0.09 | 0.03 | 0.03 | – | 0.05 |
| Unigold | UGD | 8815 | 0.05 | 0.03 | 0.04 | 0 | |
| RPT Uranium | RPT | 7674 | 0.02 | 0.02 | 0.02 | 0 | |
| Fancamp Expl | FNC | 6699 | 0.07 | 0.05 | 0.06 | – | 0.01 |
| Ecuador G & C | EGX | 6598 | 0.12 | 0.06 | 0.07 | – | 0.03 |
| Temex Res | TME | 5224 | 0.08 | 0.07 | 0.07 | 0 | |
| True Gold Mng | TGM | 5214 | 0.38 | 0.36 | 0.38 | 0 | |
| Aldrin Res | ALN | 4072 | 0.08 | 0.07 | 0.07 | + | 0.01 |
| Noble Mnl Expl | NOB | 3839 | 0.05 | 0.03 | 0.04 | + | 0.01 |
| KWG Res | KWG | 3631 | 0.08 | 0.06 | 0.07 | + | 0.01 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| SG Spirit Gold | SG | 16 | 0.05 | 0.05 | 0.05 | + | 350 |
| Tanqueray Expl | TQY | 210 | 0.05 | 0.04 | 0.04 | + | 300 |
| Solvista Gold | SVV | 60 | 0.18 | 0.12 | 0.18 | + | 200 |
| Global Hunter | BOB | 24 | 0.06 | 0.04 | 0.06 | + | 120 |
| Trio Gold Corp | TGK | 268 | 0.01 | 0.01 | 0.01 | + | 100 |
| Adroit Res | ADT | 27 | 0.01 | 0.01 | 0.01 | + | 100 |
| Prime Merid Rs | PMR | 2417 | 0.02 | 0.02 | 0.02 | + | 100 |
| Alta Vista Vnt | AVV | 56 | 0.14 | 0.13 | 0.14 | + | 100 |
| Copper North M | COL | 70 | 0.09 | 0.06 | 0.09 | + | 88.8 |
| Deer Horn Mtls | DHM | 49 | 0.09 | 0.07 | 0.08 | + | 87.5 |
| Intl Bethl Mng | IBC | 539 | 0.01 | 0.01 | 0.01 | – | 75 |
| Xmet | XME | 11303 | 0.09 | 0.03 | 0.03 | – | 62.5 |
| Prima Fluorspr | PF | 177 | 0.06 | 0.04 | 0.04 | – | 60 |
| Tajiri Res | TAJ | 10 | 0.04 | 0.04 | 0.04 | – | 52.9 |
| Noble Metal Gr | NMG | 200 | 0.01 | 0.01 | 0.01 | – | 50 |
| Acrex Vent | AKV | 51 | 0.01 | 0.01 | 0.01 | – | 50 |
| Rio Grande Mng | RGV | 44 | 0.02 | 0.01 | 0.01 | – | 50 |
| MPH Vent | MPS | 142 | 0.01 | 0.01 | 0.01 | – | 50 |
| Sendero Mng | SM | 400 | 0.01 | 0.01 | 0.01 | – | 50 |
| Canadn Plat | CPC | 478 | 0.01 | 0.01 | 0.01 | – | 50 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Lumina Copper | LCC | 520332 | 8.15 | + | 1.58 |
| Pac Booker Min | BKM | 23362 | 5.65 | + | 0.57 |
| Athabasca Mnls | ABM | 996856 | 2.21 | + | 0.24 |
| Diamcor Mng | DMI | 87466 | 1.45 | + | 0.18 |
| Flinders Res | FDR | 221226 | 0.9 | + | 0.16 |
| Gold Std Vnt | GSV | 1611482 | 0.73 | + | 0.14 |
| Mirasol Res | MRZ | 87029 | 1.31 | + | 0.14 |
| Energold Drill | EGD | 150994 | 1.69 | + | 0.13 |
| Jaguar Mng | JAG | 234252 | 0.75 | + | 0.12 |
| North Arrow Mn | NAR | 56678 | 0.83 | + | 0.12 |
| Kennady Diam | KDI | 18075 | 5.5 | – | 0.64 |
| Great Quest Me | GQ | 58768 | 1.25 | – | 0.26 |
| Reservoir Mnls | RMC | 164609 | 6.19 | – | 0.18 |
| Tasman Metals | TSM | 87530 | 1.08 | – | 0.15 |
| Selwyn Res | SWN | 10957 | 1.86 | – | 0.15 |
| Niocorp Dev | NB | 879102 | 0.53 | – | 0.13 |
| Anfield Res | ARY | 80500 | 0.28 | – | 0.13 |
| Abitibi Royalt | RZZ | 55161 | 2.18 | – | 0.11 |
| West High Yld | WHY | 75700 | 0.35 | – | 0.11 |
| Gold Reach Res | GRV | 11508 | 0.68 | – | 0.1 |
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