TSX Venture Exchange, Nov. 18-22

The S&P/TSX Venture Composite Index dropped 1.92 points during the trading sessions before closing at 932.15, which marked the third straight weekly loss for the exchange. Uncertainty surrounding the U.S. Federal Reserve’s stimulus programs weighed on markets, though rising energy prices and positive American employment data drove gains later in the week.

Gold futures struggled during the trading period, with February contracts for bullion dropping 3.5%, or US$44.50, en route to a US$1,243 per oz. weekly close. January contracts for West Texas Intermediate crude oil fell early before rallying to close up US43¢ at US$93.93 per barrel. Meanwhile, March contracts for copper jumped US5.2¢ before closing out the week at US$3.22 per lb.

It was a strong week for Canada-based graphite juniors, with Zenyatta Ventures and Mason Graphite leading the Venture in value added and trade volume.

Zenyatta posted a 37¢ gain during the period, as 1.8 million shares of the company traded hands en route to a $3.03-per-share weekly close. Zenyatta announced on Nov. 19 that it had added former ConocoPhillips manager of graphite materials, Bharat Chahar, to its management team as vice-president of market development. Chahar will focus on marketing opportunities for high-purity graphite products from the company’s wholly owned Albany vein-type graphite deposit in northeastern Ontario.

Mason traded 7.2 million shares during the week, as the company jumped 7¢ before closing out the trading period at 38¢ per share. The company is focused on the exploration and development of its wholly owned Lac Guéret graphite property, which is located in northeastern Quebec near the main service center of Baie-Comeau.

Mason saw the most activity early in the week, with 5 million shares traded on Nov. 18. The company completed a $5-million private placement in late June, and is pursuing a 15,000-metre drill program at Lac Guéret to test for mineralization continuity at the GC and GR zones.

Cordoba Minerals saw 1.5 million shares traded, as it gained 6¢ en route to a 60¢ close after releasing results from the first four holes at its San Matias copper–gold project in Colombia. Cordoba is acquiring full ownership of San Matias.

Results were highlighted by hole 4, which cut 101 metres of 1% copper and 0.65 gram gold per tonne. Additional results include 46.6 metres of 1.31% copper and 0.86 gram gold, 48.6 metres grading 1% copper and 1.21 grams gold, and 73.3 metres of 0.84% copper and 0.74 gram gold. All intercepts started within 5 metres of surface.