The S&P/TSX Venture Composite Index took a step back for the second straight week, falling 1.7%, or 15.99 points, before closing the trading period at 951.32 points. Emerging markets and China’s increasing credit risk were concerns for investors, while underwhelming income growth in the U.S. in December cooled sentiment on the American recovery.
Metals futures finished the week in the red, though higher oil prices spiked energy stocks.
Gold futures tailed off this week after hitting a four-month high in the previous trading period, as April contracts lost 2.5%, or US$31.40, before closing at US$1,244.20 per oz. Copper futures also finished the week in the red, with March contracts closing down 2.1%, or US6.9¢, at US$3.19 per lb.
Project-generator Reservoir Minerals enjoyed a market boost after an exploration update from its Timok copper–gold joint venture in eastern Serbia. Shares rose 47¢ on 1.1 million traded during the week en route to $6.15-per-share close. On Jan. 27 Reservoir and partner Freeport-McMoRan Copper & Gold announced an initial resource estimate for Timok’s high-sulphidation epithermal Cukaru Peki zone.
Timok’s inferred resource totals 65.3 million tonnes grading 2.6% copper and 1.5 grams gold per tonne — or 3.5% copper equivalent — containing 1.7 million tonnes copper and 3.1 million oz. gold. The companies’ resource includes a high-grade massive-sulphide portion hosting 6.8 million tonnes at 9.6% copper and 5.9 grams gold. All resource estimates use a 1% copper-equivalent cut-off grade.
Graphite explorer Caribou King Resources led the shares-traded category after a series of press releases concerning its Mulloy project, 10 km west of Zenyatta Ventures’ Albany graphite discovery in Ontario. Caribou saw 1.23 million shares change hands during the trading sessions, as it rose 2¢ to 6¢.
Caribou struck an exploration agreement at Mulloy with the regional Constance Lake First Nation, and received drill permits to test seven electromagnetic (EM) conductors and confirm a historic graphite drill hole by Shell Canada Resources that found 90% visual graphite over 38 metres.
Caribou finished the trading period by arranging a non-brokered private placement with 4 million flow-through units and up to 3 million common units at 5¢ per unit, for gross proceeds of $350,000.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| MacDonald Mns | BMK | 15976 | 0.02 | 0.01 | 0.02 | 0 | |
| Caribou King R | CKR | 12291 | 0.07 | 0.04 | 0.06 | + | 0.02 |
| Fission Uran | FCU | 12075 | 1.26 | 1.17 | 1.23 | + | 0.04 |
| Apogee Silver | APE | 11472 | 0.02 | 0.01 | 0.01 | – | 0.01 |
| Bear Lake Gold | BLG | 11228 | 0.05 | 0.03 | 0.04 | – | 0.01 |
| NWM Mng | NWM | 10019 | 0.01 | 0.01 | 0.01 | 0 | |
| True Gold Mng | TGM | 8381 | 0.48 | 0.39 | 0.39 | – | 0.06 |
| Oroco Res | OCO | 7910 | 0.05 | 0.04 | 0.05 | + | 0.02 |
| RPT Uranium | RPT | 7269 | 0.01 | 0.01 | 0.01 | – | 0.01 |
| Corazon Gold | CGW | 7125 | 0.01 | 0.01 | 0.01 | 0 | |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Noble Metal Gr | NMG | 18 | 0.02 | 0.01 | 0.02 | + | 200 |
| QMC Quantum Ml | QMC | 151 | 0.1 | 0.04 | 0.1 | + | 122.2 |
| Transition Mtl | XTM | 440 | 0.26 | 0.12 | 0.21 | + | 110 |
| MacMillan Mnls | MMX | 10 | 0.02 | 0.02 | 0.02 | + | 100 |
| Acrex Vent | AKV | 282 | 0.01 | 0.01 | 0.01 | + | 100 |
| Gitennes Expl | GIT | 53 | 0.01 | 0.01 | 0.01 | + | 100 |
| Prominex Res | PXR | 139 | 0.04 | 0.03 | 0.04 | + | 100 |
| Advance Gold | AAX | 231 | 0.03 | 0.02 | 0.02 | + | 100 |
| Canadn Mining | CNG | 1244 | 0.03 | 0.01 | 0.02 | + | 100 |
| Proam Expl | PMX | 116 | 0.01 | 0.01 | 0.01 | + | 100 |
| Strongbow Expl | SBW | 1003 | 0.02 | 0.01 | 0.01 | – | 60 |
| Lucky Mnls | LJ | 16 | 0.25 | 0.15 | 0.15 | – | 57.1 |
| Kola Mng | KM | 92 | 0.08 | 0.04 | 0.04 | – | 55.5 |
| Infinito Gold | IG | 262 | 0.01 | 0.01 | 0.01 | – | 50 |
| Colombia Crest | CLB | 186 | 0.01 | 0.01 | 0.01 | – | 50 |
| Intl PBX Vent | PBX | 253 | 0.01 | 0.01 | 0.01 | – | 50 |
| Apogee Silver | APE | 11472 | 0.02 | 0.01 | 0.01 | – | 50 |
| Amerix Pr Mtls | APM | 81 | 0.01 | 0.01 | 0.01 | – | 50 |
| Galore Res | GRI | 4660 | 0.02 | 0.01 | 0.01 | – | 50 |
| Grande Portage | GPG | 2584 | 0.04 | 0.02 | 0.02 | – | 50 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Great Quest Me | GQ | 600835 | 1.65 | + | 0.59 |
| Reservoir Mnls | RMC | 1070458 | 6.15 | + | 0.47 |
| Kennady Diam | KDI | 47683 | 4.75 | + | 0.43 |
| Avino Silver | ASM | 216556 | 1.89 | + | 0.23 |
| McVicar Res | MCV | 141600 | 0.42 | + | 0.2 |
| Mill City Intl | MC | 852757 | 0.53 | + | 0.17 |
| Alphamin Res | AFM | 62201 | 0.4 | + | 0.16 |
| Santacruz Silv | SCZ | 425010 | 1.11 | + | 0.14 |
| Highland Res | HI | 389640 | 0.59 | + | 0.14 |
| Sarama Res | SWA | 187220 | 0.28 | + | 0.13 |
| Lucky Mnls | LJ | 16000 | 0.15 | – | 0.2 |
| Gold Reserve | GRZ | 40655 | 4.06 | – | 0.16 |
| Chesapeake Gld | CKG | 62992 | 3.29 | – | 0.16 |
| Kootenay Gold | KTN | 122848 | 0.5 | – | 0.14 |
| Anfield Nickel | ANF | 85505 | 2.16 | – | 0.14 |
| SilverCrest Mn | SVL | 772722 | 2.06 | – | 0.12 |
| Gold Reach Res | GRV | 28690 | 0.98 | – | 0.12 |
| Callinan Royal | CAA | 158995 | 1.92 | – | 0.11 |
| Altitude Res | ALI | 17500 | 0.3 | – | 0.1 |
| Lumina Copper | LCC | 103267 | 5.74 | – | 0.09 |
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