The S&P/TSX Venture Composite Index bounced back during the trading sessions after seven days in the red, as it closed up 1.8%, or 17.41 points, en route to a 1,007.16-point weekly close. Markets were buoyed by rising precious metal prices, while Statistics Canada reported a rebound in Canadian exports that pushed the country’s trade balance to a $290-million surplus in February.
Gold futures rebounded late in the week after disappointing U.S. jobs data, with June contracts for bullion finishing the trading period up 1.5%, or US$18.70, at US$1,303.70 per oz. Crude oil futures traded relatively flat, as May contracts for West Texas Intermediate dropped US30¢ en route to a US$101.11-per-barrel close. May contracts for copper dropped US11¢ before closing the week at US$3.02 per lb.
Newfoundland-based Canada Fluorspar jumped 15¢ during the week en route to a 35¢ close. On April 2 Canada Fluorspar announced a court-approved plan of arrangement that will see San Francisco-based private equity firm Golden Gate Capital acquire all outstanding shares of the company for 35¢ per share. The all-cash takeover offer represents an 87% premium on Canada Fluorspar’s 20-day, volume-weighted average.
Canada Fluorspar had been working to re-start existing underground fluorspar mines near the town of St. Lawrence on the Burin peninsula. In January 2013 the company released a $154-million plan to reactivate operations that carried a $124-million pre-tax net present value at a 5% discount rate, along with a 16.4% internal rate of return. In early December the company released an updated resource estimate for the project, which hosts 2.1 million indicated tonnes grading 51% CaF2, as well as 8.5 million inferred tonnes grading 42.2% CaF2.
Greenland-focused True North Gems released a letter to shareholders after a busy trading week that saw 22.2 million of its shares change hands. The company reported that it was “evident from recent insider trading reports that one of its larger shareholders took the positive news of the granting of our permit to liquidate a substantial portion of their holdings.” True North closed the week flat at 8¢ per share.
In March True North announced the government of Greenland had awarded the company an exclusive, 30-year mining licence for its wholly owned Aappaluttoq ruby deposit. True North has identified more than 30 ruby occurrences in the Fiskenaesset district so far, and removed a total of 165 tonnes of material for processing over the past four years. From the material processed, over 65,000 grams of gems and over 129,700 grams of near-gem rubies and pink sapphires have been recovered.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| True North Gem | TGX | 22169 | 0.09 | 0.06 | 0.08 | 0 | |
| Thelon Cap | THC | 16099 | 0.15 | 0.1 | 0.13 | + | 0.01 |
| MacDonald Mns | BMK | 13004 | 0.03 | 0.01 | 0.02 | + | 0.01 |
| KWG Res | KWG | 11668 | 0.09 | 0.06 | 0.09 | + | 0.03 |
| Satori Res | BUD | 9785 | 0.11 | 0.08 | 0.08 | – | 0.01 |
| China Mnls Mng | CMV | 8034 | 0.03 | 0.01 | 0.02 | + | 0.01 |
| Gem Intl Res | GI | 6683 | 0.03 | 0.01 | 0.01 | + | 0.01 |
| Cavan Vent | CVN | 6681 | 0.05 | 0.04 | 0.05 | + | 0.01 |
| Fission Uran | FCU | 6584 | 1.71 | 1.6 | 1.62 | – | 0.01 |
| Frontline Gold | FGC | 6218 | 0.01 | 0.01 | 0.01 | + | 0.01 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Green Swan Cap | GSW | 1228 | 0.16 | 0.06 | 0.16 | + | 220 |
| Proam Expl | PMX | 645 | 0.04 | 0.02 | 0.02 | + | 100 |
| Threegold Res | THG | 411 | 0.01 | 0.01 | 0.01 | + | 100 |
| Celeste Copper | C | 1398 | 0.01 | 0.01 | 0.01 | + | 100 |
| Frontline Gold | FGC | 6218 | 0.01 | 0.01 | 0.01 | + | 100 |
| Gem Intl Res | GI | 6683 | 0.03 | 0.01 | 0.01 | + | 100 |
| Killdeer Mnls | KMI | 20 | 0.01 | 0.01 | 0.01 | + | 100 |
| Canada Fluorsp | CFI | 4425 | 0.35 | 0.2 | 0.35 | + | 76.9 |
| Pan Global Res | PGZ | 90 | 0.16 | 0.04 | 0.16 | + | 72.2 |
| American Manga | AMY | 1308 | 0.07 | 0.04 | 0.06 | + | 71.4 |
| Tasca Res | TAC | 1042 | 0.03 | 0.01 | 0.01 | – | 60 |
| Artha Res | AHC | 5248 | 0.01 | 0.01 | 0.01 | – | 50 |
| Stroud Res | SDR | 158 | 0.01 | 0.01 | 0.01 | – | 50 |
| Silver Shield | SSR | 76 | 0.01 | 0.01 | 0.01 | – | 50 |
| Reliance Res | RI | 74 | 0.01 | 0.01 | 0.01 | – | 50 |
| Northern Abiti | NAI | 71 | 0.01 | 0.01 | 0.01 | – | 50 |
| Blackstone Ven | BLV | 3046 | 0.01 | 0.01 | 0.01 | – | 50 |
| Ross River Mnl | RRM | 505 | 0.01 | 0.01 | 0.01 | – | 50 |
| Remington Res | RGM | 11 | 0.04 | 0.04 | 0.04 | – | 41.6 |
| CB Gold | CBJ | 3916 | 0.18 | 0.08 | 0.1 | – | 41.1 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Lumina Copper | LCC | 91984 | 5.23 | + | 0.53 |
| Kennady Diam | KDI | 17603 | 4.7 | + | 0.42 |
| Zenyatta Vent | ZEN | 1102139 | 3.33 | + | 0.31 |
| Selwyn Res | SWN | 35740 | 2.5 | + | 0.21 |
| Probe Mines | PRB | 518646 | 3.39 | + | 0.19 |
| Palladon Vent | PLL | 83032 | 1.88 | + | 0.19 |
| Canada Fluorsp | CFI | 4424689 | 0.35 | + | 0.15 |
| Tinka Res | TK | 489538 | 0.49 | + | 0.14 |
| Tasman Metals | TSM | 184475 | 1.65 | + | 0.12 |
| Falco Pac Res | FPC | 1744909 | 0.58 | + | 0.11 |
| Chesapeake Gld | CKG | 109980 | 2.89 | – | 0.23 |
| Great Quest Me | GQ | 332332 | 1.44 | – | 0.21 |
| Reservoir Mnls | RMC | 736328 | 6.59 | – | 0.19 |
| Titanium Corp | TIC | 1124388 | 1.04 | – | 0.14 |
| Diamcor Mng | DMI | 45620 | 1.33 | – | 0.12 |
| Anfield Nickel | ANF | 96261 | 1.72 | – | 0.1 |
| Barisan Gold | BG | 2143525 | 0.17 | – | 0.1 |
| Forum Uranium | FDC | 570852 | 0.37 | – | 0.08 |
| Gold Reserve | GRZ | 17599 | 3.49 | – | 0.07 |
| CB Gold | CBJ | 3915840 | 0.1 | – | 0.07 |
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