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TABLE OF CONTENTS Jan 27 - Feb 2, 2014 Volume 99 Number 50 - 0 comments

TSX Venture Exchange, Jan. 13-17

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2014-01-22

The S&P/TSX Venture Composite Index extended its rally during the trading sessions, with a 9.79-point gain leading to a 976.34-point weekly close, which marks the Venture’s highest close since April 2011. Market enthusiasm was fuelled by stronger commodity futures, with gold and oil prices leading the weekly charge. A bullish report by the World Bank also provided mid-week optimism, as the international institution raised its global growth forecast for the first time in three years.

Gold futures hit a four-week high during the trading period, as February contracts for bullion jumped US$5.40 before closing at US$1,253.60 per oz. Crude oil also finished in the green, with March contracts for West Texas Intermediate rising around 1.4%, or US$1.29, en route to a US$94.32-per-barrel weekly close. March contracts for copper closed relatively flat at US$3.34 per lb.

Anfield Nickel led the value-added category during the week following macroeconomic news that triggered a boost in nickel pricing. Shares jumped 51¢ before closing out the trading period at $2.06 per share. Anfield has a 100% stake in the development-stage Mayaniquel nickel–laterite project, 250 km northeast of Guatemala City. Mayaniquel holds 70 million proven and probable tonnes grading 1.41% nickel for 2.2 million contained lb.

On Jan. 12 Indonesia instituted a ban on the exports of unprocessed materials that include commodities such as nickel and bauxite. The event triggered a nickel price rally, since Indonesia is the world’s foremost producer of the metal, which is used in making stainless steel.

Following the news, nickel prices hit an 11-week high, with the Goldman Sachs Group bumping its 12-month price target 7% to US$16,000 per tonne.

Junior Excelsior Mining garnered positive market attention after it released a strong prefeasibility study on its Gunnison copper-skarn project, 105 km southeast of Tucson, Ariz. The company registered a 44¢, or 400%, gain during weekly trading, en route to a 55¢ close.

On Jan. 17 Excelsior unveiled a US$285-million mine plan that uses copper extraction through in-situ recovery and a solvent extraction–electrowinning plant. The operation would produce 110 million lb. copper annually in its first 14 years, at a cash cost of US68¢ per lb.

Assuming US$2.75 per lb. copper, Gunnison’s “acid plant” model would feature a US$826-million after-tax net present value  at a 7.5% discount rate, along with a 45% internal rate of return and a 2.4-year payback period.

TSX-V most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Great Western GWG 15760 0.12 0.07 0.1 + 0.03
Excelsior Mng MIN 13335 0.55 0.12 0.55 + 0.44
Fission Uran FCU 9542 1.15 1.02 1.15 + 0.06
PNG Gold PGK 8491 0.06 0.03 0.05 + 0.02
Geomega Res GMA 4794 0.35 0.11 0.23 + 0.12
Metanor Res MTO 4556 0.18 0.14 0.18 + 0.05
Unigold UGD 4370 0.07 0.06 0.06 + 0.01
Anglo Swiss ASW 4178 0.01 0.01 0.01   0
Temex Res TME 3986 0.1 0.08 0.09 + 0.01
Kincora Copper KCC 3830 0.06 0.03 0.06 + 0.03

TSX-V greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Auracle Res AAL 2485 0.05 0.01 0.04 + 700
Excelsior Mng MIN 13335 0.55 0.12 0.55 + 400
Angel Gold ANG 182 0.26 0.09 0.22 + 266.6
Pac North West PFN 26 0.05 0.04 0.05 + 233.3
Volcanic Mtls VOL 27 0.15 0.08 0.15 + 233.3
Bravada Gold BVA 878 0.02 0.01 0.02 + 200
Rainy Mtn Royl RMO 127 0.04 0.03 0.04 + 166.6
Stikine Energy SKY 3778 0.03 0.01 0.03 + 150
Thunder Mtn Gd THM 10 0.13 0.13 0.13 + 150
Signature Res SGU 62 0.07 0.04 0.07 + 133.3
Rio Silver RYO 1046 0.04 0.02 0.02 - 55.5
Aben Res ABN 108 0.01 0.01 0.01 - 50
Frontline Gold FGC 363 0.01 0.01 0.01 - 50
Hudson River M HRM 100 0.01 0.01 0.01 - 50
Phoenix Copper PHC 837 0.03 0.02 0.02 - 42.8
Sunset Cove Mg SSM 690 0.02 0.02 0.02 - 40
Westcore Energ WTR 129 0.03 0.02 0.03 - 40
Dynasty Gold DYG 249 0.02 0.01 0.02 - 40
Emgold Mng EMR 228 0.04 0.03 0.03 - 37.5
Vangold Res VAN 15 0.03 0.03 0.03 - 37.5

TSX-V greatest value change


Company Symbol Change Close Change
Anfield Nickel ANF 57106 2.06 + 0.51
Chesapeake Gld CKG 96878 3.55 + 0.44
Excelsior Mng MIN 13335296 0.55 + 0.44
Selwyn Res SWN 62142 2.12 + 0.34
SilverCrest Mn SVL 756806 2.22 + 0.29
Callinan Royal CAA 348262 2.05 + 0.29
Bear Creek Mng BCM 437363 1.79 + 0.27
Pac Booker Min BKM 14335 6.95 + 0.26
Great Quest Me GQ 259619 0.99 + 0.26
Aurcana Corp AUN 894378 0.95 + 0.25
Zenyatta Vent ZEN 1106420 1.92 - 0.27
Focus Graphite FMS 1215658 0.46 - 0.17
Atacama Pac Gd ATM 42900 0.75 - 0.15
Banks Island G BOZ 841870 0.47 - 0.14
Gold Reserve GRZ 43136 4.1 - 0.11
Energold Drill EGD 148363 1.68 - 0.07
Gold Reach Res GRV 54700 1.05 - 0.07
Arian Silver AGQ 89000 0.42 - 0.06
Lumina Copper LCC 68659 6.11 - 0.06
Alphamin Res AFM 74300 0.22 - 0.06


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