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TABLE OF CONTENTS Jun 9 - 15, 2014 Volume 100 Number 17 - 0 comments

TSX Venture hit by lower commodity prices, May 26-30

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2014-06-04

The S&P/TSX Venture Composite Index spent much of the week in the red before closing down 4 points at 983.99. Markets were hit by declining commodity futures, while Statistics Canada reported that the nation’s gross domestic product rose 0.3% in the first quarter, in the smallest gain since the fourth quarter of 2012.

August contracts for gold bullion lost 3.5% — or US$45.70 during weekly trading — before closing at US$1,246 per oz. July contracts for copper declined US3.3¢ before finishing the trading period at US$3.13 per lb.

Graphite explorer Xmet led the volume-traded category after filing its first-quarter financial statements and updating its Blackflake West target, 60 km northwest of Hearst, Ont. The company traded 11.3 million shares during the week, as it lost 5¢ before closing at 3¢ per share.

On May 30 Xmet announced it had positive working capital of $678,000, which is enough to fund its plans to drill test an “all-channel VTEM response graphite target” at Blackflake West. 

Nevada-focused explorer Gold Standard Ventures jumped 14¢ on 1.6 million shares traded after selling its non-core, early stage exploration assets — namely the Crescent Valley, East Camp Douglas and East Bailey projects — to Tanqueray Exploration. Gold Standard will receive 60 million shares in Tanqueray and $150,000 in cash for the property package.

 Gold Standard president and CEO Jonathan Awde stated that the company will focus on its resource-stage Railroad–Pinion gold project along the Carlin Trend. Tanqueray rose 300% en route to a 4¢-per-share close.

Solvista Gold gained 200%, or 12¢ during the week, before closing at 18¢ per share after releasing an exploration update from its Caramanta project, which lies along the the central Middle Cauca gold belt in Colombia. The company optioned the asset to Iamgold in late December, with the producer entitled to earn a 70% interest through US$36 million in “qualifying expenditures” over eight years.

On May 26 Solvista announced that Iamgold had assigned a dedicated exploration team to Caramanta, with the goal of resuming drilling by the third quarter. Work currently includes: a mobile metal ion soil-sampling program focused on ridges and spurs across the property; a 27 line km ground-magnetic survey within the area of the Caramanta porphyry cluster; and detailed geological mapping and sampling at the Malabrigo and Casa Verde targets.

TSX-V most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Xmet XME 11303 0.09 0.03 0.03 - 0.05
Unigold UGD 8815 0.05 0.03 0.04   0
RPT Uranium RPT 7674 0.02 0.02 0.02   0
Fancamp Expl FNC 6699 0.07 0.05 0.06 - 0.01
Ecuador G & C EGX 6598 0.12 0.06 0.07 - 0.03
Temex Res TME 5224 0.08 0.07 0.07   0
True Gold Mng TGM 5214 0.38 0.36 0.38   0
Aldrin Res ALN 4072 0.08 0.07 0.07 + 0.01
Noble Mnl Expl NOB 3839 0.05 0.03 0.04 + 0.01
KWG Res KWG 3631 0.08 0.06 0.07 + 0.01

TSX-V greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
SG Spirit Gold SG 16 0.05 0.05 0.05 + 350
Tanqueray Expl TQY 210 0.05 0.04 0.04 + 300
Solvista Gold SVV 60 0.18 0.12 0.18 + 200
Global Hunter BOB 24 0.06 0.04 0.06 + 120
Trio Gold Corp TGK 268 0.01 0.01 0.01 + 100
Adroit Res ADT 27 0.01 0.01 0.01 + 100
Prime Merid Rs PMR 2417 0.02 0.02 0.02 + 100
Alta Vista Vnt AVV 56 0.14 0.13 0.14 + 100
Copper North M COL 70 0.09 0.06 0.09 + 88.8
Deer Horn Mtls DHM 49 0.09 0.07 0.08 + 87.5
Intl Bethl Mng IBC 539 0.01 0.01 0.01 - 75
Xmet XME 11303 0.09 0.03 0.03 - 62.5
Prima Fluorspr PF 177 0.06 0.04 0.04 - 60
Tajiri Res TAJ 10 0.04 0.04 0.04 - 52.9
Noble Metal Gr NMG 200 0.01 0.01 0.01 - 50
Acrex Vent AKV 51 0.01 0.01 0.01 - 50
Rio Grande Mng RGV 44 0.02 0.01 0.01 - 50
MPH Vent MPS 142 0.01 0.01 0.01 - 50
Sendero Mng SM 400 0.01 0.01 0.01 - 50
Canadn Plat CPC 478 0.01 0.01 0.01 - 50

TSX-V greatest value change


Company Symbol Change Close Change
Lumina Copper LCC 520332 8.15 + 1.58
Pac Booker Min BKM 23362 5.65 + 0.57
Athabasca Mnls ABM 996856 2.21 + 0.24
Diamcor Mng DMI 87466 1.45 + 0.18
Flinders Res FDR 221226 0.9 + 0.16
Gold Std Vnt GSV 1611482 0.73 + 0.14
Mirasol Res MRZ 87029 1.31 + 0.14
Energold Drill EGD 150994 1.69 + 0.13
Jaguar Mng JAG 234252 0.75 + 0.12
North Arrow Mn NAR 56678 0.83 + 0.12
Kennady Diam KDI 18075 5.5 - 0.64
Great Quest Me GQ 58768 1.25 - 0.26
Reservoir Mnls RMC 164609 6.19 - 0.18
Tasman Metals TSM 87530 1.08 - 0.15
Selwyn Res SWN 10957 1.86 - 0.15
Niocorp Dev NB 879102 0.53 - 0.13
Anfield Res ARY 80500 0.28 - 0.13
Abitibi Royalt RZZ 55161 2.18 - 0.11
West High Yld WHY 75700 0.35 - 0.11
Gold Reach Res GRV 11508 0.68 - 0.1


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Related News
US stocks finish strong, May 27-30
Xmet grabs land around Zenyatta's Albany graphite play
Iamgold options into Solvista Gold's Caramanta project
Related Press Releases
Gold Standard Closes US$6.3 Million Public Offering
Xmet's Blackflake Update: Ground Magnetics Concluded
IIROC Trading Resumption - GSV
 



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