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TABLE OF CONTENTS May 26 - Jun 1, 2014 Volume 100 Number 15 - 0 comments

TSX Venture finishes in the red, May 12-16

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2014-05-21

The S&P/TSX Venture Composite Index had a tough run during the week, losing 14.55 points before closing at a four-month low of 976.55. Markets pulled back after the U.S. Federal Reserve revealed that U.S. industrial production had unexpectedly dropped by 0.6% in April after jumping 0.9% in March, while the European Union’s statistics office reported that the eurozone saw output grow by only 0.2% in the first quarter.

Gold futures started strong, as June contracts hit a mid-week high of US$1,309.20 per oz., before losing momentum and closing up US$5.80 at US$1,293.40 per oz. July contracts for copper jumped US5.7¢ before closing at US$3.145 per lb.

Peru-focused Bear Creek Mining led the value-added category during the week, as it gained 45¢ on 1.4 million shares traded, before closing at $1.95 per share. On May 13 the company announced a positive decision by the Lima First Constitutional Court that resolved conflict over ownership and mineral rights at its Santa Ana silver–lead–zinc property, 140 km south of the city of Puno. The decision follows a three-year constitutional appeal process after Peru’s previous government rescinded Bear Creek’s right to operate the project.

Mexico-focused explorer Cayden Resources sat atop the value-lost column during the week after the company dropped 30¢ on 338,000 shares traded, en route to a $1.66-per-share close. On May 14 Cayden announced assays from nine holes at the Pena de Oro target on its El Barqueno gold project in Jalisco State, Mexico.

Cayden reports that drilling is limited by existing permits to targeting only one of three identified mineralized structures. Drilling highlights include: 26 metres of 2.35 grams gold from 55 metres depth in hole 50; 30 metres of 1.61 grams gold from 9 metres depth in hole 49; and 38 metres of 1.47 grams gold and 0.67% copper from 77 metres depth in hole 52.

Red Pine Exploration led the volume-traded category after nearly 15 million shares changed hands, closing down 1.5¢ at 3¢ per share. On May 14 Red Pine released exploration results from a recent drill program at its Cayenne volcanogenic massive sulphide (VMS) project, 110 km southwest of Timmins, Ont.

Drilling identified lateral and depth extensions of the Jefferson VMS deposit, where Red Pine reports structural evidence indicates “larger polymetallic massive sulphide bodies.” Drilling highlights include: 35 metres grading 0.66% copper and 0.27% zinc from surface in hole 14-7; and 33 metres of 5.88 grams silver, 0.16% copper, 1.18% lead and 2.29% zinc from 68 metres depth in hole 14-5.

TSX-V most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Red Pine Expl RPX 14962 0.04 0.02 0.03 - 0.02
Lago Dourado LDM 7229 0.03 0.02 0.02 - 0.01
Geomega Res GMA 7204 0.69 0.37 0.47 - 0.16
Thelon Cap THC 7023 0.08 0.05 0.06 - 0.02
Brilliant Res BLT 6257 0.08 0.06 0.07 + 0.02
Midlands Minls MEX 6157 0.04 0.02 0.03   0
Fission Uran FCU 5838 1.26 1.13 1.23 + 0.1
Kenieba Goldf KEN 5247 0.02 0.01 0.01 + 0.01
Taipan Res TPN 4184 0.59 0.49 0.54 + 0.05
Nemaska Lith NMX 3919 0.13 0.1 0.11   0

TSX-V greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Alta Vista Vnt AVV 364 0.14 0.05 0.1 + 122.2
Monster Mng MAN 364 0.02 0.01 0.02 + 100
Electra Gold ELT 130 0.01 0.01 0.01 + 100
Central Iron O CIO 50 0.01 0.01 0.01 + 100
Kenieba Goldf KEN 5247 0.02 0.01 0.01 + 100
BE Res BER 91 0.3 0.2 0.3 + 100
Killdeer Mnls KMI 1537 0.03 0.02 0.03 + 100
Laurion Mnl Ex LME 234 0.03 0.02 0.03 + 100
Altan Rio Mnls AMO 138 0.09 0.05 0.09 + 88.8
RT Minerals RTM 112 0.11 0.06 0.11 + 75
Proam Expl PMX 635 0.02 0.01 0.02 - 62.5
Mill City Intl MC 59 0.3 0.22 0.24 - 55.6
Bonterra Res BTR 94 0.01 0.01 0.01 - 50
Acrex Vent AKV 95 0.01 0.01 0.01 - 50
Cascadero Copp CCD 222 0.01 0.01 0.01 - 50
GGL Res GGL 437 0.02 0.01 0.01 - 50
Pac Wildcat Re PAW 113 0.02 0.01 0.01 - 50
Celeste Copper C 305 0.01 0.01 0.01 - 50
SG Spirit Gold SG 57 0.04 0.03 0.03 - 45.4
Blue Sky Uran BSK 776 0.08 0.04 0.04 - 42.8

TSX-V greatest value change


Company Symbol Change Close Change
Bear Creek Mng BCM 1399532 1.95 + 0.45
Abitibi Royalt RZZ 20000 1.9 + 0.4
Probe Mines PRB 321083 2.65 + 0.39
BE Res BER 90956 0.3 + 0.15
Callinan Royal CAA 288228 1.87 + 0.11
Auriga Gold AIA 227700 0.48 + 0.1
Fission Uran FCU 5837818 1.23 + 0.1
Panoro Minls PML 242550 0.39 + 0.09
Lornex Cap LOM 28000 0.2 + 0.07
Avino Silver ASM 89852 1.8 + 0.06
Cayden Res CYD 337563 1.66 - 0.3
Mill City Intl MC 59113 0.24 - 0.3
Atac Res ATC 559070 1.05 - 0.19
Great Quest Me GQ 140050 1.35 - 0.19
Flinders Res FDR 482471 0.65 - 0.18
Geomega Res GMA 7203575 0.47 - 0.16
Doubleview Cap DBV 2670483 0.2 - 0.15
Arian Silver AGQ 10410 0.51 - 0.13
Bacanora Mnls BCN 761228 0.6 - 0.12
Reservoir Mnls RMC 97819 6.3 - 0.11


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