The S&P/TSX Venture Composite Index managed a 1.5% — or 14.82-point gain — during the trading sessions before closing at a four-week high of 1,013.59 points. Gains were underpinned by rising precious and base-metal prices despite reports that China’s economic growth had slowed for a fourth straight month in April. Statistics Canada reported that the country’s retail sales jumped in February, while the Canadian dollar closed the week at US90.63¢.
Gold futures jumped late in the week amid rising tensions in Ukraine, with June contracts for bullion closing up US$8.30 at US$1,303.20 per oz. Copper futures also finished in the green, as July contracts for the red metal gained US7.4¢ en route to a US$3.12 per lb. weekly close. Meanwhile, June contracts for West Texas Intermediate oil lost US$3.93 during the trading period before closing at US$100.65 per barrel.
Val-d’Or based Abitibi Royalties led the value-added category, courtesy of producer Osisko Mining. Abitibi rose 75¢ during weekly trading en route to a $1.50 close, on 94,361 shares traded.
Abitibi Royalties holds a 30% stake in the CHL property — which hosts Odyssey North as well as the resource-stage Barnat expansion and Jeffrey zone — under a joint-venture agreement with Osisko. Abitibi also owns a 2% net smelter return royalty on the Gouldie deposit south of Canadian Malartic, which Osisko recently put into production.
Streaming outfit Sandstorm Metals and Energy also had a strong week after a takeover bid from sister company Sandstorm Gold. Sandstorm Metals gained 46¢ during the trading period on 2.4 million shares traded before closing at $1.42 per share.
On April 21 the companies announced a deal that would see Sandstorm Gold acquire Sandstorm Metals for 0.178 of a share and 35¢ in cash for each Sandstorm Metals share. The offer values Sandstorm Metals at $49 million, or a 43% premium.
Nevada Sunrise Gold also jumped 28¢ on 1.6 million shares traded during the week, en route to a $1.16-per-share close.
On April 23 Pilot Gold released assays from an infill and step-out program at the Kinsley Mountain gold project 160 km southeast of Elko, Nev. Nevada Sunrise holds 29% in the asset, where Pilot reported results from the final five holes of 3,500-metre year-end drill campaign.
Step-out hole 133C cut 30 metres of 10.6 grams gold, while infill drilling highlighted 29 metres of 21.3 grams gold in hole 137C. Pilot reported that the upper part of the intercept in 137C — including an interval grading 46.4 grams gold over 4.9 metres — is oxidized, similar to nearby targets.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Malbex Res | MBG | 13585 | 0.06 | 0.03 | 0.04 | + | 0.02 |
| Paget Mnls | PGS | 8859 | 0.02 | 0.01 | 0.01 | – | 0.01 |
| Mukuba Res | MKU | 8333 | 0.01 | 0.01 | 0.01 | 0 | |
| KWG Res | KWG | 8166 | 0.08 | 0.07 | 0.07 | 0 | |
| MacMillan Mnls | MMX | 8104 | 0.06 | 0.01 | 0.03 | + | 0.02 |
| Fission Uran | FCU | 7417 | 1.47 | 1.3 | 1.31 | – | 0.09 |
| Golden Tag | GOG | 7191 | 0.05 | 0.03 | 0.04 | – | 0.02 |
| EurOmax Res | EOX | 6830 | 0.15 | 0.09 | 0.14 | + | 0.05 |
| Argentum Silvr | ASL | 6655 | 0.04 | 0.02 | 0.02 | – | 0.03 |
| Satori Res | BUD | 6636 | 0.08 | 0.05 | 0.06 | + | 0.01 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Cassius Vent | CZ | 151 | 0.11 | 0.01 | 0.11 | + | 950 |
| Manson Creek | MCK | 157 | 0.08 | 0.02 | 0.08 | + | 300 |
| MacMillan Mnls | MMX | 8104 | 0.06 | 0.01 | 0.03 | + | 200 |
| Green Valley M | GVY | 2391 | 0.02 | 0.01 | 0.02 | + | 200 |
| Inlet Res | INL | 70 | 0.3 | 0.19 | 0.3 | + | 118.5 |
| Frontline Gold | FGC | 11 | 0.01 | 0.01 | 0.01 | + | 100 |
| African Metals | AFR | 236 | 0.01 | 0.01 | 0.01 | + | 100 |
| Celeste Copper | C | 14 | 0.01 | 0.01 | 0.01 | + | 100 |
| Hudson River M | HRM | 120 | 0.01 | 0.01 | 0.01 | + | 100 |
| Goldspike Expl | GSE | 60 | 0.1 | 0.08 | 0.1 | + | 100 |
| Thunder Mtn Gd | THM | 44 | 0.1 | 0.04 | 0.04 | – | 72 |
| Argentum Silvr | ASL | 6655 | 0.04 | 0.02 | 0.02 | – | 60 |
| Sultan Mnrls | SUL | 10 | 0.01 | 0.01 | 0.01 | – | 50 |
| Bonterra Res | BTR | 95 | 0.01 | 0.01 | 0.01 | – | 50 |
| Paget Mnls | PGS | 8859 | 0.02 | 0.01 | 0.01 | – | 50 |
| Gentor Res | GNT | 25 | 0.16 | 0.15 | 0.16 | – | 38 |
| Gold Ridge Exp | GEA | 27 | 0.04 | 0.04 | 0.04 | – | 33.3 |
| Copper One | CUO | 316 | 0.07 | 0.06 | 0.06 | – | 33.3 |
| Gossan Res | GSS | 27 | 0.03 | 0.02 | 0.02 | – | 33.3 |
| Orestone Mng | ORS | 32 | 0.02 | 0.02 | 0.02 | – | 33.3 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Abitibi Royalt | RZZ | 94361 | 1.5 | + | 0.75 |
| Kennady Diam | KDI | 28137 | 5 | + | 0.67 |
| Sandstorm Mt&E | SND | 2387288 | 1.42 | + | 0.46 |
| Reservoir Mnls | RMC | 322620 | 6.63 | + | 0.38 |
| Gold Reserve | GRZ | 19031 | 3.5 | + | 0.3 |
| Nevada Sunrise | NEV | 1598836 | 1.16 | + | 0.28 |
| Titanium Corp | TIC | 3773416 | 1.97 | + | 0.25 |
| Zenyatta Vent | ZEN | 475960 | 3.32 | + | 0.25 |
| Atac Res | ATC | 809538 | 1.3 | + | 0.2 |
| Avino Silver | ASM | 61933 | 1.84 | + | 0.19 |
| Athabasca Mnls | ABM | 154057 | 1.78 | – | 0.14 |
| Tasman Metals | TSM | 94944 | 1.44 | – | 0.13 |
| Brazil Res | BRI | 719372 | 0.89 | – | 0.11 |
| Transition Mtl | XTM | 156527 | 0.39 | – | 0.11 |
| Midland Expl | MD | 11650 | 0.8 | – | 0.1 |
| Gentor Res | GNT | 25000 | 0.16 | – | 0.1 |
| Huakan Intl Mg | HK | 40067 | 0.38 | – | 0.1 |
| Thunder Mtn Gd | THM | 44000 | 0.04 | – | 0.09 |
| Fission Uran | FCU | 7417161 | 1.31 | – | 0.09 |
| Lumina Copper | LCC | 99078 | 4.94 | – | 0.08 |
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