The S&P/TSX Venture Composite Index lost 1.4%, or 14.83 points, during the trading sessions before closing the week at 1,022.93 points. Markets were hit by falling energy futures and a report from Statistics Canada that indicated the Canadian job market unexpectedly struggled in June. Meanwhile, the U.S. Federal Reserve announced it would end its quantitative easing program by October.
Gold futures were a big winner on the week, as August contracts for bullion jumped 1.4%, or US$19, en route to a $1,337.40 per oz. close. Crude oil futures did not fare as well, with August contracts for West Texas Intermediate dropping 2.8%, or US$2.93, before closing at US$100.83 per barrel. September contracts for copper closed the week relatively flat at US$3.27 per lb.
Mexico-focused Cayden Resources led the value-added category during the trading period after releasing drill results from its El Barqueno project 130 km west of Guadalajara, Mexico.
The current drill program is at the Angostura target, which is the third of nine targets Cayden has identified on the property. Cayden finished the week up 50¢ on 742,000 shares traded at $2.40 per share.
On July 7 the company announced results from its Angostura program, highlighted by 13 metres grading 1.54 grams gold per tonne, 11.9 grams silver per tonne and 0.08% copper from 7 metres depth in hole 83; and 13 metres of 4.6 grams gold, 10.1 grams silver and 0.1% copper from surface in hole 85. The drilling covers 50 metres of the 500 metres of strike length of mineralized veins and stockwork mapped so far at Angostura.
Probe Mines fell 44¢ on 1 million shares traded before closing at $2.29 per share after releasing infill drill results from the High-Grade zone (HGZ) at its Borden Lake gold project in Ontario. On July 7 the company announced assays from the first five holes of a preliminary infill program within the recently expanded HGZ.
Probe said the program identified “grades similar” to those observed in previously delineated HGZ resources, with highlights including: 21 metres grading 7 grams gold from 579 metres depth in hole 14-621W; 14 metres of 2.8 grams gold from 636 metres depth in hole 14-620; and 10 metres averaging 2.5 grams gold from 540 metres depth in hole 14-624.
Explorer Canamex Resources saw heavy trading during the period, with nearly 10 million shares changing hands, as it gained 5¢ en route to a 22¢-per-share close. On July 7 Canamex announced drill results from its Bruner gold project in Nye County, Nev. Canamex is in the midst of a reverse-circulation drill program at Bruner aimed at confirming and expanding historic resources.
TSX-V most active issues
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Condor Res | CN | 14317 | 0.17 | 0.1 | 0.15 | + | 0.02 |
| Cap-Ex Vent | CEV | 11106 | 0.02 | 0.01 | 0.02 | – | 0.01 |
| Canamex Res | CSQ | 9725 | 0.22 | 0.15 | 0.18 | + | 0.05 |
| New Millennium | PGM | 5722 | 0.46 | 0.4 | 0.42 | 0 | |
| Gold Bulln Dev | GBB | 4554 | 0.07 | 0.04 | 0.07 | + | 0.03 |
| True Gold Mng | TGM | 4219 | 0.47 | 0.42 | 0.46 | + | 0.04 |
| SGX Res | SXR | 3737 | 0.04 | 0.02 | 0.03 | – | 0.01 |
| Metanor Res | MTO | 3532 | 0.16 | 0.13 | 0.14 | – | 0.01 |
| Calibre Mng | CXB | 3422 | 0.09 | 0.06 | 0.08 | + | 0.02 |
| Temex Res | TME | 3419 | 0.1 | 0.08 | 0.09 | + | 0.01 |
TSX-V greatest percentage change
| Volume | |||||||
| Company | Symbol | (000s) | High | Low | Close | Change | |
| Copper Ck Gold | CPV | 2414 | 0.06 | 0.02 | 0.06 | + | 266.6 |
| Bama Gold | BMA | 213 | 0.1 | 0.05 | 0.08 | + | 150 |
| Getty Copper | GTC | 164 | 0.08 | 0.05 | 0.08 | + | 128.5 |
| Orefinders Res | ORX | 84 | 0.16 | 0.08 | 0.11 | + | 120 |
| Trio Gold Corp | TGK | 253 | 0.01 | 0.01 | 0.01 | + | 100 |
| Abzu Gold | ABS | 3188 | 0.04 | 0.01 | 0.02 | + | 100 |
| Acrex Vent | AKV | 478 | 0.01 | 0.01 | 0.01 | + | 100 |
| Randsburg Intl | RGZ | 453 | 0.02 | 0.01 | 0.02 | + | 100 |
| African Metals | AFR | 30 | 0.01 | 0.01 | 0.01 | + | 100 |
| Sultan Mnrls | SUL | 635 | 0.01 | 0.01 | 0.01 | + | 100 |
| Sierra Madre D | SMG | 520 | 0.01 | 0.01 | 0.01 | – | 50 |
| Kings Bay Gold | KBG | 253 | 0.02 | 0.01 | 0.01 | – | 50 |
| Celeste Copper | C | 327 | 0.01 | 0.01 | 0.01 | – | 50 |
| Red Mile Mnls | RDM | 49 | 0.01 | 0.01 | 0.01 | – | 50 |
| Bonterra Res | BTR | 226 | 0.01 | 0.01 | 0.01 | – | 50 |
| Zone Res | ZNR | 94 | 0.04 | 0.03 | 0.03 | – | 50 |
| AgriMinco | ANO | 104 | 0.01 | 0.01 | 0.01 | – | 50 |
| Challenger Dee | CDE | 741 | 0.07 | 0.04 | 0.04 | – | 42.8 |
| Palmer Res | PMD | 20 | 0.07 | 0.06 | 0.06 | – | 40 |
| RockBridge Res | RBE | 30 | 0.05 | 0.05 | 0.05 | – | 37.5 |
TSX-V greatest value change
| Company | Symbol | Change | Close | Change | |
| Cayden Res | CYD | 741967 | 2.4 | + | 0.5 |
| Bear Creek Mng | BCM | 1080438 | 3.5 | + | 0.42 |
| Chesapeake Gld | CKG | 142674 | 3.77 | + | 0.37 |
| Lumina Copper | LCC | 2029508 | 10.61 | + | 0.29 |
| Feronia | FRN | 43354 | 0.82 | + | 0.26 |
| Tasman Metals | TSM | 213057 | 1.27 | + | 0.17 |
| Northern Vertx | NEE | 26850 | 0.5 | + | 0.17 |
| Bacanora Mnls | BCN | 614641 | 1.1 | + | 0.15 |
| Newstrike Cap | NES | 296024 | 1.01 | + | 0.15 |
| Great Quest Me | GQ | 134891 | 1.4 | + | 0.11 |
| Kennady Diam | KDI | 31009 | 5.01 | – | 0.59 |
| Probe Mines | PRB | 1007689 | 2.29 | – | 0.44 |
| Gold Reserve | GRZ | 55026 | 3.37 | – | 0.2 |
| Athabasca Mnls | ABM | 458288 | 2.9 | – | 0.18 |
| Nevada Sunrise | NEV | 464292 | 1.03 | – | 0.17 |
| Tsodilo Res | TSD | 24030 | 1.3 | – | 0.1 |
| Pac Booker Min | BKM | 11053 | 4.9 | – | 0.07 |
| Mason Graphite | LLG | 601094 | 0.6 | – | 0.07 |
| Geomega Res | GMA | 856025 | 0.37 | – | 0.07 |
| Brazil Res | BRI | 303846 | 0.94 | – | 0.06 |
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