The S&P/TSX Venture Composite Index lost 9.35 points during weekly trading en route to a 1,033.64-point close. Reports out of China indicated growth rates across industrial sectors had dropped to multi-year lows, while markets also monitored the ongoing Russia–Ukraine stand-off.
April contracts for gold bullion jumped 3.4%, or US$44.80 during the trading period, before closing at US$1,383.20 per oz. Crude oil lost ground for a second straight week, as May contracts for West Texas Intermediate dropped 3.3%, or US$3.36, en route to a US$99.05-per-barrel close. Copper futures got pummelled, with May contracts for the red metal closing down US7¢ at US$2.94 per lb.
Gold junior Nevada Sunrise Gold soared 93% during the week thanks to strong drill results from its joint-venture partner at the Kinsley Mountain project, 160 km southeast of Elko, Nev. The company closed up 41¢ at 85¢ per share on 1.2-million shares traded.On March 12 operator Pilot Gold — which holds a 79% interest in Kinsley alongside Nevada Sunrise — released results from stepout drilling that supported Pilot’s theory that Kinsley could host “significant high-grade gold mineralization” below historically tested depths. Results are highlighted by hole 131C at the Western Flank target, which cut 43 metres of 10.5 grams gold per tonne. Meanwhile, drilling 500 metres south at the Right Spot target returned a near-surface, oxide gold interval of 3.57 grams gold over 11.5 metres in hole 130C.
Peru-focused Panoro Minerals shot up the volume-traded ranks during the week after producer Hudbay Minerals increased its equity stake in the junior. Panoro traded 10.2 million shares during the trading period, as Hudbay picked up 10 million shares at 28¢ per share. The purchase was made on the TSX Venture Exchange pursuant to a private agreement and represents 4.9% of Panoro’s outstanding shares. Hudbay now owns 23 million shares of Panoro for an 11% stake. Hudbay is completing construction at its Constancia copper mine in southeastern Peru, while Panoro controls more than 10 early stage projects in the region, with its resource-stage Cotabambas and Antilla projects being the most advanced.
Project-generator Reservoir Minerals enjoyed a 30¢ jump during weekly trading en route to a $7.43-per-share close. On March 12 the company announced it had augmented its board of directors and adopted a shareholder-rights plan, pursuant to any potential takeover bid for the company.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Satori Res | BUD | 42655 | 0.14 | 0.05 | 0.12 | + | 0.08 |
| Fission Uran | FCU | 11775 | 1.7 | 1.56 | 1.59 | – | 0.08 |
| Panoro Minls | PML | 10180 | 0.3 | 0.28 | 0.28 | 0 | |
| Big North Grap | NRT | 9320 | 0.09 | 0.07 | 0.08 | + | 0.01 |
| Thelon Cap | THC | 8994 | 0.11 | 0.06 | 0.09 | + | 0.03 |
| Midlands Minls | MEX | 8292 | 0.04 | 0.03 | 0.03 | 0 | |
| Brookemnt Cpt | BKT | 8093 | 0.04 | 0.03 | 0.03 | 0 | |
| True North Gem | TGX | 7777 | 0.12 | 0.09 | 0.1 | – | 0.04 |
| Graphite One R | GPH | 6729 | 0.25 | 0.19 | 0.23 | – | 0.01 |
| Metanor Res | MTO | 6244 | 0.28 | 0.23 | 0.26 | + | 0.03 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Zinco Mng | ZIM | 204 | 0.07 | 0.04 | 0.07 | + | 1300 |
| Satori Res | BUD | 42655 | 0.14 | 0.05 | 0.12 | + | 228.5 |
| Cassius Vent | CZ | 38 | 0.02 | 0.02 | 0.02 | + | 200 |
| Reliant Gold | REC | 344 | 0.03 | 0.02 | 0.03 | + | 150 |
| Grizzly Discvr | GZD | 1571 | 0.12 | 0.04 | 0.09 | + | 142.8 |
| Tanqueray Expl | TQY | 10 | 0.05 | 0.03 | 0.05 | + | 125 |
| Nikos Expl | NIK | 443 | 0.15 | 0.09 | 0.12 | + | 118.1 |
| Canadn Plat | CPC | 217 | 0.01 | 0.01 | 0.01 | + | 100 |
| Rockland Mnls | RL | 463 | 0.06 | 0.02 | 0.06 | + | 100 |
| Murgor Res | MGR | 2357 | 0.03 | 0.02 | 0.02 | + | 100 |
| Electra Gold | ELT | 79 | 0.01 | 0.01 | 0.01 | – | 50 |
| Network Expl | NET | 12 | 0.01 | 0.01 | 0.01 | – | 50 |
| Regent Vents | REV | 20 | 0.01 | 0.01 | 0.01 | – | 50 |
| Silver Spruce | SSE | 2202 | 0.01 | 0.01 | 0.01 | – | 50 |
| Bonterra Res | BTR | 80 | 0.01 | 0.01 | 0.01 | – | 50 |
| Stroud Res | SDR | 433 | 0.01 | 0.01 | 0.01 | – | 50 |
| Goldex Res | GDX | 57 | 0.08 | 0.05 | 0.06 | – | 40 |
| White Pine Res | WPR | 26 | 0.14 | 0.1 | 0.11 | – | 38.8 |
| Endurance Gold | EDG | 150 | 0.08 | 0.05 | 0.05 | – | 37.5 |
| Great Atlantic | GR | 2386 | 0.03 | 0.03 | 0.03 | – | 37.5 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Probe Mines | PRB | 1237394 | 3.76 | + | 0.41 |
| Nevada Sunrise | NEV | 1248640 | 0.85 | + | 0.41 |
| Tasman Metals | TSM | 1246589 | 1.77 | + | 0.34 |
| Reservoir Mnls | RMC | 207764 | 7.43 | + | 0.3 |
| Anfield Nickel | ANF | 238995 | 2.12 | + | 0.17 |
| Cayden Res | CYD | 257993 | 1.85 | + | 0.15 |
| Gold Reserve | GRZ | 16749 | 3.53 | + | 0.14 |
| Newstrike Cap | NES | 314573 | 1 | + | 0.13 |
| Kennady Diam | KDI | 25600 | 4.8 | + | 0.12 |
| Sandspring Res | SSP | 1146631 | 0.42 | + | 0.11 |
| Great Quest Me | GQ | 190731 | 1.75 | – | 0.24 |
| Lumina Copper | LCC | 114390 | 5 | – | 0.2 |
| Falco Pac Res | FPC | 904939 | 0.59 | – | 0.11 |
| Bullman Mnls | BUL | 10000 | 0.3 | – | 0.1 |
| Callinex Mines | CNX | 274376 | 0.5 | – | 0.1 |
| Aurcana Corp | AUN | 938696 | 1.05 | – | 0.09 |
| Brazil Res | BRI | 1089374 | 1.21 | – | 0.09 |
| Geomega Res | GMA | 1768615 | 0.66 | – | 0.08 |
| Fission Uran | FCU | 11775314 | 1.59 | – | 0.08 |
| Forum Uranium | FDC | 545493 | 0.44 | – | 0.07 |
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