The S&P/TSX Venture Composite finished in the green for the second straight week during the trading period, as it jumped 1.8%, or 18.41 points, en route to a 1,023.99-point close. Markets followed energy and precious metals futures upward, with Statistics Canada reporting gross domestic product growth at an annual rate of 3.1% in the second quarter. Meanwhile, European Union foreign ministers met to discuss the Ukraine crisis amid calls to boost economic sanctions against Russia.
December contracts for gold bullion gained US$7.20 before closing the trading period at US$1,287.40 per oz. Crude oil was also on the rise, as October contracts for West Texas Intermediate jumped 2.7%, or US$2.56, en route to a US$95.96-per-barrel weekly close. December contracts for copper dropped 2%, or US6.3¢, before closing at US$3.16 per lb.
Alberta-focused Athabasca Minerals saw its shares gain ground after approvals from Alberta Environment and Sustainable Resource Development (ESRD) that will allow it to remove silica sand from its Firebag project within the Wood Buffalo region of northeastern Alberta. The company gained 36¢ on 3 million shares traded during the week before closing at $2.64 per share.
Athabasca has received a 10-year permit to mine raw silica sand for the oil and gas industry. The company has finished a number of independent tests on Firebag’s sand , and has demonstrated its use as frac sand. President and CEO Dom Kriangkum said that based on “analysis and discussion with end users,” Athabasca believes it can become an industry leader by supplying “high-quality, local frac sand” to Canada’s oil and gas producers.
Greenflag Ventures experienced an uptick in trading activity after announcing a potential acquisition. The company saw 7.5 million shares change hands as it gained 1¢ en route to a 9¢-per-share close. On Aug. 27 Greenflag reported it was “considering” the acquisition of Bermuda-based specialty financial company 33 Ltd.
Greenflag specializes in capital investment and financial advisory, with a focus on the natural resource sector. The company’s current mineral exploration asset is the Kuyakuz gold property in central B.C. It has reportedly generated $3 million in revenues so far in 2014, and specializes in financing mining companies.
Explorer Atac Resources had a rough week after it released drill results from its 1,700 sq. km Rackla gold project, 55 km northeast of Keno City, Yukon. The company lost 14¢ on 2.2 million shares traded before closing out the trading period at 83¢ per share.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Lomiko Mtls | LMR | 10857 | 0.11 | 0.07 | 0.1 | + | 0.03 |
| Greenflag Vent | GFV | 7458 | 0.14 | 0.08 | 0.09 | + | 0.01 |
| Quaterra Res | QTA | 5935 | 0.07 | 0.04 | 0.06 | + | 0.02 |
| Canada Carbon | CCB | 5793 | 0.29 | 0.22 | 0.24 | – | 0.02 |
| Discovery Vent | DVN | 4851 | 0.38 | 0.33 | 0.38 | + | 0.06 |
| Boxxer Gold | BXX | 4631 | 0.05 | 0.04 | 0.05 | + | 0.01 |
| Red Pine Expl | RPX | 4604 | 0.02 | 0.01 | 0.01 | – | 0.01 |
| Seafield Res | SFF | 4563 | 0.01 | 0.01 | 0.01 | – | 0.01 |
| Merrex Gold | MXI | 4409 | 0.24 | 0.14 | 0.18 | + | 0.03 |
| Nemaska Lith | NMX | 4362 | 0.25 | 0.19 | 0.24 | – | 0.01 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Argentum Silvr | ASL | 41 | 0.09 | 0.07 | 0.09 | + | 800 |
| Augen Gold | GLD | 1167 | 0.12 | 0.05 | 0.12 | + | 166.6 |
| Mill City Intl | MC | 62 | 0.2 | 0.12 | 0.16 | + | 158.3 |
| Dundarave Res | DDX | 29 | 0.25 | 0.15 | 0.25 | + | 117.3 |
| Lorraine Coppr | LLC | 3144 | 0.12 | 0.04 | 0.09 | + | 112.5 |
| Eastern Merid | EME | 55 | 0.03 | 0.02 | 0.03 | + | 100 |
| Frontline Gold | FGC | 75 | 0.01 | 0.01 | 0.01 | + | 100 |
| Arcturus Res | AZN | 70 | 0.02 | 0.02 | 0.02 | + | 100 |
| Brookemnt Cpt | BKT | 734 | 0.01 | 0.01 | 0.01 | + | 100 |
| Bonterra Res | BTR | 849 | 0.01 | 0.01 | 0.01 | + | 100 |
| Millstream Min | MLM | 70 | 0.01 | 0.01 | 0.01 | – | 50 |
| Colibri Res | CBI | 74 | 0.01 | 0.01 | 0.01 | – | 50 |
| Green Valley M | GVY | 50 | 0.01 | 0.01 | 0.01 | – | 50 |
| Kazax Mnls | KZX | 937 | 0.03 | 0.02 | 0.02 | – | 50 |
| Apogee Silver | APE | 710 | 0.01 | 0.01 | 0.01 | – | 50 |
| Seafield Res | SFF | 4563 | 0.01 | 0.01 | 0.01 | – | 50 |
| Blind Crk Res | BCK | 55 | 0.01 | 0.01 | 0.01 | – | 50 |
| Metalcorp | MTC | 136 | 0.01 | 0.01 | 0.01 | – | 50 |
| Reliance Res | RI | 41 | 0.01 | 0.01 | 0.01 | – | 50 |
| Reliant Gold | REC | 27 | 0.03 | 0.03 | 0.03 | – | 50 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Kennady Diam | KDI | 131053 | 7.81 | + | 0.56 |
| Ascot Res | AOT | 921320 | 2.29 | + | 0.44 |
| Athabasca Mnls | ABM | 2974168 | 2.64 | + | 0.36 |
| Titanium Corp | TIC | 1613328 | 2.03 | + | 0.23 |
| Catalyst Coppr | CCY | 193214 | 0.49 | + | 0.14 |
| Dundarave Res | DDX | 28833 | 0.25 | + | 0.14 |
| Bear Creek Mng | BCM | 445995 | 3.53 | + | 0.12 |
| Geomega Res | GMA | 2437699 | 0.36 | + | 0.12 |
| Goldstrike Res | GSR | 3820245 | 0.27 | + | 0.11 |
| EPM Mng Vent | EPK | 523653 | 0.36 | + | 0.1 |
| Abitibi Royalt | RZZ | 33380 | 3.67 | – | 0.23 |
| Northern Sun M | NSC | 36783 | 0.18 | – | 0.15 |
| Atac Res | ATC | 2192264 | 0.83 | – | 0.14 |
| Cordoba Mnls | CDB | 512200 | 0.49 | – | 0.11 |
| EurOmax Res | EOX | 13750 | 0.32 | – | 0.1 |
| Midland Expl | MD | 26435 | 0.88 | – | 0.09 |
| Energold Drill | EGD | 134832 | 1.46 | – | 0.09 |
| Lara Expl | LRA | 39785 | 0.76 | – | 0.08 |
| Tasman Metals | TSM | 170929 | 1.03 | – | 0.08 |
| Gold Reach Res | GRV | 44530 | 0.57 | – | 0.07 |
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