The S&P/TSX Venture Composite had another rough week during the trading period after it lost 4.43%, or 42.30 points, en route to a 912.76-point close. Commodity futures struggled, while markets responded to reports out of China that industrial company profits fell 0.6% in August. Meanwhile, pro-democracy protests in Hong Kong fuelled socio-political concerns in the Asian business hub.
December contracts for gold bullion lost US$1.30 to close the week at US$1,215.40, while November contracts for West Texas Intermediate crude oil gained 2.2%, or US$1.98, en route to a US$93.54-per-barrel close. December contracts for copper dropped 1.5%, or US4.7¢, before closing the week at US$3.04 per lb.
Explorer Kennady Diamonds had a second strong week, as the company led the value-added category with a 19¢ gain en route to a $7.79-per-share close. Kennady followed up a $5-million non-brokered private placement on Sept. 16 with an announcement that it would extend a drill program at its Kennady North project in the Northwest Territories.
The company has drilled 12,500 metres at its Kelvin kimberlite to date, and will increase the program to 14,000 metres. The expanded drill initiative will increase the kimberlite recovered from 24 tonnes to 28 tonnes.
The company also announced that over 129 metres of kimberlite had been intersected in hole 14-55 at the far north of the Kelvin kimberlite, which is the widest intersect to date. Kennady is now reviewing its tonnage target on the Kelvin-Faraday kimberlite corridor, which stands at between 7 million and 10 million tonnes.
Columbus Gold had an active week topping the volume-traded column with 10.2 million shares traded. The junior gained 5¢ to 45¢. On Sept. 22 Columbus said that a “prominent U.S. resource investor” would buy 9.9% of the company through a private placement.
Afterwards Columbus closed a US$5.36-million private placement wherein it issued 13.4 million shares at 40¢ per share. The net proceeds will fund a drill program at its Eastside gold discovery in Nevada.
Nighthawk Gold rose 15¢ to 54¢ on drill results from its Indin Lake gold project in the Northwest Territories. Nighthawk is in the midst of a 14,000-metre expansion drill program there to boost inferred resources that total 40 million tonnes grading 1.67 grams gold per tonne for 2.1 million contained oz. Highlights at Goldcrest include hole 14-5 cutting 20.3 metres of 4.83 grams gold from 127 metres deep, and hole 14-4 hitting 19.6 metres of 4.19 grams gold from 103 metres deep. At Colomac Main, hole 14-2 cut 25 metres grading 2.38 grams gold from 254 metres deep.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Columbus Gold | CGT | 10178 | 0.51 | 0.38 | 0.45 | + | 0.05 |
| CB Gold | CBJ | 8383 | 0.09 | 0.08 | 0.09 | + | 0.01 |
| KWG Res | KWG | 6632 | 0.07 | 0.06 | 0.06 | + | 0.01 |
| Great Western | GWG | 5313 | 0.06 | 0.04 | 0.05 | – | 0.01 |
| Fission Uran | FCU | 5230 | 1.12 | 0.97 | 1 | – | 0.12 |
| Alabama Graph | ALP | 5053 | 0.3 | 0.25 | 0.27 | + | 0.01 |
| Kings Bay Gold | KBG | 4803 | 0.01 | 0.01 | 0.01 | – | 0.01 |
| Terra Firma Rs | TFR | 4606 | 0.01 | 0.01 | 0.01 | 0 | |
| Calibre Mng | CXB | 4581 | 0.15 | 0.11 | 0.14 | + | 0.01 |
| Caribou King R | CKR | 4440 | 0.01 | 0.01 | 0.01 | + | 0.01 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Kalimantan Gld | KLG | 4425 | 0.08 | 0.01 | 0.08 | + | 433.3 |
| Arrowstar Res | AWS | 28 | 0.25 | 0.1 | 0.1 | + | 280 |
| Dynasty Gold | DYG | 17 | 0.01 | 0.01 | 0.01 | + | 100 |
| Apogee Silver | APE | 589 | 0.01 | 0.01 | 0.01 | + | 100 |
| Red Rock Enrgy | RRK | 15 | 0.01 | 0.01 | 0.01 | + | 100 |
| New Dimen Res | NDR | 377 | 0.01 | 0.01 | 0.01 | + | 100 |
| Caribou King R | CKR | 4440 | 0.01 | 0.01 | 0.01 | + | 100 |
| Westhaven Vent | WHN | 945 | 0.14 | 0.08 | 0.13 | + | 73.3 |
| African Queen | AQ | 54 | 0.03 | 0.02 | 0.03 | + | 66.6 |
| Gold Ridge Exp | GEA | 400 | 0.05 | 0.04< /td> | 0.05 | + | 66.6 |
| Opawica Expl | OPW | 273 | 0.04 | 0.03 | 0.03 | – | 58.3 |
| Rokmaster Res | RKR | 716 | 0.09 | 0.04 | 0.04 | – | 57.8 |
| Asian Minl Res | ASN | 1395 | 0.07 | 0.03 | 0.03 | – | 57.1 |
| Manson Creek | MCK | 1464 | 0.07 | 0.03 | 0.03 | – | 57.1 |
| ABE Res | ABE | 264 | 0.07 | 0.05 | 0.05 | – | 50 |
| Amador Gold | AGX | 1815 | 0.01 | 0.01 | 0.01 | – | 50 |
| Minfocus Expl | MFX | 101 | 0.01 | 0.01 | 0.01 | – | 50 |
| Cadillac Vent | CDC | 617 | 0.02 | 0.01 | 0.01 | – | 50 |
| Kings Bay Gold | KBG | 4803 | 0.01 | 0.01 | 0.01 | – | 50 |
| Mainstream Mnl | MJO | 325 | 0.01 | 0.01 | 0.01 | – | 50 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Kennady Diam | KDI | 54856 | 7.79 | + | 0.19 |
| Energold Drill | EGD | 92059 | 1.56 | + | 0.15 |
| Nighthawk Gold | NHK | 107900 | 0.54 | + | 0.15 |
| Gold Std Vnt | GSV | 813726 | 0.75 | + | 0.09 |
| Titanium Corp | TIC | 463847 | 1.69 | + | 0.09 |
| Tasman Metals | TSM | 214295 | 0.78 | + | 0.09 |
| Midnight Sun M | MMA | 167140 | 0.25 | + | 0.08 |
| Mkango Res | MKA | 481737 | 0.2 | + | 0.08 |
| Arrowstar Res | AWS | 27501 | 0.1 | + | 0.07 |
| Bear Creek Mng | BCM | 1159532 | 1.95 | + | 0.07 |
| Abitibi Royalt | RZZ | 62763 | 3.09 | – | 0.41 |
| Reservoir Mnls | RMC | 168819 | 5.05 | – | 0.4 |
| Avino Silver | ASM | 91234 | 1.63 | – | 0.27 |
| Atacama Pac Gd | ATM | 38700 | 0.5 | – | 0.17 |
| Athabasca Mnls | ABM | 1342524 | 2.22 | – | 0.16 |
| Probe Mines | PRB | 449756 | 2.25 | – | 0.16 |
| West High Yld | WHY | 117644 | 0.23 | – | 0.12 |
| Fission Uran | FCU | 5229603 | 1 | – | 0.12 |
| Ascot Res | AOT | 196355 | 1.86 | – | 0.12 |
| Marlin Gold | MLN | 43061 | 0.86 | – | 0.11 |
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