The S&P/TSX Venture Composite Index took a breather during the trading sessions following a month-long run that saw it close near a three-year high last week. The Venture dropped 9.03 points during the trading period en route to a 967.34-point close, as emerging-market shares continued the worst start to a year since 2009, while China indicated its factory output could contract this month.
Gold futures hit more highs to start the year, with April contracts for bullion jumping US$13.90 during weekly trading en route to a US$1,269.80 per oz. close. Crude oil futures also finished in the green for a second straight week, as March contracts for West Texas Intermediate closed up 3%, or US$2.55, at US$96.89 per barrel. Copper was the weak spot during the trading period, with March contracts for the red metal dropping 2.4% before closing at US$3.26 per lb.
Africa-focused explorer Tsodilo Resources had a strong week after an exploration update at its Xaudum iron-ore project located in the northern portion of the Ngamiland region in Botswana. Shares gained 58%, or 40¢ during weekly trading, before closing out the period at $1.10 per share.
On Jan. 22 Tsodilo reported a “conservative exploration target” of between 5 billion and 7 billion tonnes of iron ore at Xaudum, with average grades between 15% and 40% iron. The company calculated its exploration target based on drill-hole data to the larger project area covered by the ground-magnetic–geophysical data by using a ground-magnetic–inversion model.
Athabasca-focused junior Fission Uranium led the Venture in shares traded during the week, with 12 million shares changing hands following an exploration update from its Patterson Lake South (PLS) project in northern Saskatchewan. The company finished the trading period near a four-month high at $1.24 per share. On Jan. 20 Fission announced it had initiated a US$20-million exploration program at PLS, with 90 drill holes to delineate seven shallow-depth zones.
Falco Pacific Resource Group soared 51%, or 21¢, on 1.2 million shares traded, before closing near a 10-week high at 62¢ per share. The jump came after mining engineer Paul-Henri Girard was appointed to the junior’s technical team. Girard spent 25 years with Agnico Eagle Mines, most recently as vice-president of Canadian operations.
The company reports that Girard was brought aboard to oversee the next phase of work at its historic Horne mine complex in Rouyn-Noranda, Que.
TSX-V most active issues
| Volume | Week | ||||||
| (000s) | High | Low | Close | Change | |||
| Fission Uran | FCU | 11848 | 1.25 | 1.13 | 1.19 | – | 0.01 |
| Great Western | GWG | 9602 | 0.14 | 0.1 | 0.13 | + | 0.02 |
| Excelsior Mng | MIN | 9461 | 0.48 | 0.36 | 0.4 | – | 0.08 |
| Calibre Mng | CXB | 9315 | 0.05 | 0.04 | 0.04 | – | 0.01 |
| Lomiko Mtls | LMR | 8160 | 0.17 | 0.12 | 0.12 | – | 0.03 |
| Corazon Gold | CGW | 7911 | 0.01 | 0.01 | 0.01 | 0 | |
| Red Pine Expl | RPX | 6539 | 0.1 | 0.08 | 0.09 | + | 0.01 |
| Aldrin Res | ALN | 6254 | 0.1 | 0.08 | 0.08 | + | 0.01 |
| Unigold | UGD | 6195 | 0.09 | 0.06 | 0.08 | + | 0.01 |
| RPT Uranium | RPT | 4857 | 0.01 | 0.01 | 0.01 | + | 0.01 |
TSX-V greatest percentage change
| Volume | Week | ||||||
| (000s) | High | Low | Close | Change | |||
| Cassius Vent | CZ | 91 | 0.02 | 0.01 | 0.02 | + | 300 |
| La Quinta Res | LAQ | 67 | 0.02 | 0.01 | 0.02 | + | 200 |
| Navasota Res | NAV | 113 | 0.12 | 0.08 | 0.12 | + | 140 |
| Stakeholdr Gld | SRC | 1053 | 0.09 | 0.05 | 0.09 | + | 112.5 |
| Arrowhead Gold | AWH | 55 | 0.01 | 0.01 | 0.01 | + | 100 |
| Altan Rio Mnls | AMO | 35 | 0.07 | 0.05 | 0.07 | + | 100 |
| Bear Lake Gold | BLG | 2756 | 0.04 | 0.02 | 0.04 | + | 100 |
| Ditem Explor | DIT | 1516 | 0.01 | 0.01 | 0.01 | + | 100 |
| Amerix Pr Mtls | APM | 448 | 0.01 | 0.01 | 0.01 | + | 100 |
| Celeste Copper | C | 37 | 0.01 | 0.01 | 0.01 | + | 100 |
| Pinestar Gold | PNS | 69 | 0.06 | 0.05 | 0.05 | – | 55 |
| Angel Gold | ANG | 137 | 0.2 | 0.11 | 0.11 | – | 50 |
| Northern Lion | NL | 1567 | 0.07 | 0.02 | 0.03 | – | 50 |
| QIA | 1070 | 0.01 | 0.01 | 0.01 | – | 50 | |
| Reservoir Capt | REO | 2049 | 0.02 | 0.01 | 0.01 | – | 50 |
| Tribute Res | TRB | 12 | 0.06 | 0.06 | 0.06 | – | 45 |
| Cresval Cap | CRV | 25 | 0.03 | 0.02 | 0.02 | – | 42.8 |
| Eastfield Res | ETF | 12 | 0.06 | 0.04 | 0.04 | – | 42.8 |
| Bell Copper | BCU | 34 | 0.02 | 0.02 | 0.02 | – | 40 |
| Shield Gold | SHG | 164 | 0.09 | 0.05 | 0.06 | – | 38.8 |
TSX-V greatest value change
| Week | |||||
| Change | Close | Change | |||
| Pac Booker Min | BKM | 12220 | 6.92 | + | 0.67 |
| Tsodilo Res | TSD | 97575 | 1.1 | + | 0.4 |
| Bullman Mnls | BUL | 70000 | 0.75 | + | 0.3 |
| Probe Mines | PRB | 726698 | 2.74 | + | 0.24 |
| Falco Pac Res | FPC | 1152200 | 0.62 | + | 0.21 |
| Atacama Pac Gd | ATM | 16000 | 0.92 | + | 0.2 |
| Gold Std Vnt | GSV | 1163127 | 0.87 | + | 0.16 |
| Mirasol Res | MRZ | 130011 | 1.33 | + | 0.13 |
| Volcanic Mtls | VOL | 173800 | 0.27 | + | 0.12 |
| Gold Reserve | GRZ | 30311 | 4.22 | + | 0.11 |
| Selwyn Res | SWN | 16776 | 1.74 | – | 0.71 |
| Kennady Diam | KDI | 157236 | 4.32 | – | 0.52 |
| Reservoir Mnls | RMC | 351207 | 5.68 | – | 0.17 |
| Tasman Metals | TSM | 324198 | 1.19 | – | 0.17 |
| Newmac Res | NER | 16870 | 0.35 | – | 0.15 |
| Angel Gold | ANG | 136539 | 0.11 | – | 0.11 |
| SilverCrest Mn | SVL | 663723 | 2.18 | – | 0.09 |
| Palladon Vent | PLL | 43824 | 1.7 | – | 0.09 |
| Athabasca Mnls | ABM | 303800 | 1.62 | – | 0.08 |
| Excelsior Mng | MIN | 9461112 | 0.4 | – | 0.08 |
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