FREE ARTICLE PREVIEW: You are enjoying a free sample of exclusive
subscriber content. There is a limit of three free articles per week.

TABLE OF CONTENTS Dec 16 - 22, 2013 Volume 99 Number 44 - 0 comments

TSX Venture Exchange, Dec. 2-6

TEXT SIZE bigger text smaller text
2013-12-11

The S&P/TSX Venture Composite Index lost 2%, or 18.24 points, during the week before closing at 916.65. Markets finished in the red despite rising energy and metals futures, with promising jobs data out of Canada and the U.S. fuelling concerns that the Federal Reserve would cut stimulus spending.

January contracts for West Texas Intermediate crude oil jumped 5.4%, or US$4.97 during trading, before closing out the period at US$97.77 per barrel. Copper was also up, as March contracts rose US3.9¢ en route to a US$3.24 per lb. close. Struggles continue in the gold market, where February contracts dropped US$19.20 before closing at US$1,228.40 per oz.

Graphite explorer Zenyatta Ventures’ failed to impress the market with a maiden resource estimate at its Albany deposit in northeastern Ontario. Zenyatta topped the value-lost category after releasing its news on Dec. 2. The company fell 77¢ on 5.7 million shares traded before closing the week at $2.31 per share. Albany’s resource includes 25 million indicated tonnes grading 3.89% graphitic carbon for 977,000 contained tonnes. Inferred resources tack on another 20 million tonnes averaging 2.2% graphitic carbon for 441,000 contained tonnes. Calculations assume a 0.6% graphitic carbon cut-off grade.

Meanwhile, copper explorer Reservoir Minerals led the value-added category after it announced results from its Timok joint venture in eastern Serbia, which the company holds in a partnership with operator Freeport-McMoRan Copper & Gold. Reservoir jumped 81¢ during weekly trading before closing at $5.42 per share.

The company released assays from five drill holes collared at Timok, which demonstrated strong copper-equivalent grades. Results were highlighted by two holes that intersected copper–gold mineralization in a high-sulphidation epithermal zone at the company’s Cukaru Peki target. Hole 1341 cut 166 metres grading 6.65% copper and 7.75 grams gold per tonne from 557 metres down hole, while hole 1344 intersected 129 metres of 5.76% copper and 4.42 grams gold from 625 metres depth.

Shareholders of Sandstorm Metals & Energy experienced the pitfalls of metal-stream financings when developer Colossus Minerals announced it has halted development at its 75%-owned Serra Pelada gold–palladium–platinum project in Brazil. Sandstorm forwarded Colossus US$60 million for an amount equal to 1.5% of the gold and 35% of the platinum produced from Serra Pelada.

Sandstorm will now review its investment for a partial or full impairment charge. The news triggered an 18¢ drop in Sandstorm’s share price, which closed at $1.08.

TSX-V most active issues


    Volume  
Company Symbol (000s) High Low Close Change
Midlands Minls MEX 35230 0.02 0.01 0.01 + 0.01
IBC Adv Alloys IB 28959 0.22 0.05 0.17 + 0.11
Corsa Coal CSO 12057 0.17 0.13 0.15 + 0.02
African Queen AQ 7385 0.08 0.02 0.04 + 0.02
Unigold UGD 6783 0.07 0.06 0.06 - 0.02
Red Pine Expl RPX 6454 0.05 0.04 0.05 + 0.01
Barisan Gold BG 6368 0.37 0.23 0.28 - 0.08
Zenyatta Vent ZEN 5674 3.35 1.93 2.31 - 0.77
Selwyn Res SWN 4765 0.09 0.08 0.08 - 0.01
WestStar Res WER 4354 0.03 0.02 0.02   0

TSX-V greatest percentage change


    Volume  
Company Symbol (000s) High Low Close Change
Tajiri Res TAJ 114 0.05 0.01 0.05 + 400
Aguila Am Res AGL 140 0.06 0.04 0.05 + 400
IBC Adv Alloys IB 28959 0.22 0.05 0.17 + 200
Valhalla Res VH 150 0.02 0.01 0.02 + 200
Gold Ridge Exp GEA 10 0.05 0.05 0.05 + 125
Rocmec Mining RMI 730 0.11 0.06 0.11 + 110
Goldrea Res GOR 116 0.01 0.01 0.01 + 100
Hornby Bay Mnl HBE 196 0.12 0.06 0.12 + 100
Habanero Res HAO 194 0.01 0.01 0.01 + 100
Canyon Copper CNC 47 0.01 0.01 0.01 + 100
Strike Minls STK 801 0.01 0.01 0.01 - 66.6
Canuc Res CDA 948 0.03 0.02 0.02 - 57.1
Hinterland Mtl HMI 105 0.02 0.02 0.02 - 55.5
El Condor Mnls LCO 460 0.01 0.01 0.01 - 50
Jet Gold JAU 60 0.01 0.01 0.01 - 50
Honey Badger E TUF 50 0.01 0.01 0.01 - 50
La Quinta Res LAQ 37 0.01 0.01 0.01 - 50
Amanta Res AMH 53 0.01 0.01 0.01 - 50
GMV Minerals GMV 200 0.02 0.01 0.01 - 50
Aldershot Res ALZ 330 0.01 0.01 0.01 - 50

TSX-V greatest value change


Company Symbol Change Close Change
Reservoir Mnls RMC 811429 5.42 + 0.81
Lumina Copper LCC 149428 5.39 + 0.27
Intl Enexco IEC 48400 0.43 + 0.13
IBC Adv Alloys IB 28959033 0.17 + 0.11
Afferro Mng AFF 80160 1.54 + 0.11
Mason Graphite LLG 3331352 0.48 + 0.11
Tsodilo Res TSD 15700 0.75 + 0.1
Gold Reserve GRZ 34316 3.65 + 0.09
Pac Booker Min BKM 23064 4.19 + 0.09
Nordex NXX 266285 0.47 + 0.07
Zenyatta Vent ZEN 5673617 2.31 - 0.77
Alpha Mnls AMW 582846 5.45 - 0.7
Probe Mines PRB 668772 2.11 - 0.36
Sandstorm Mt&E SND 1326612 1.08 - 0.18
Energold Drill EGD 1636493 1.55 - 0.17
Kennady Diam KDI 73535 5.25 - 0.15
Arianne Phosph DAN 632625 1.32 - 0.15
Aurcana Corp AUN 800260 1.24 - 0.14
Bear Creek Mng BCM 571530 1.56 - 0.13
Gold Reach Res GRV 74800 0.85 - 0.12


© 1915 - 2014 The Northern Miner. All Rights Reserved.

Related News
Better days await the junior sector, PwC reports
Rick Rule sees 'lustrous return' ahead
Lundin to buy Candelaria from Freeport
Related Press Releases
Reservoir Minerals Provides an Update on Exploration Activities in Cameroon
Reservoir Minerals Online Presentation and Conference Call
Reservoir Minerals Reports High-Grade Silver Mineralization at the Parlozi Project, and Midlands Fulfil Initial Expenditure and Drilling Commitment
 



Horizontal ruler
Horizontal Ruler

Post A Comment

Disclaimer
Note: By submitting your comments you acknowledge that Northern Miner has the right to reproduce, broadcast and publicize those comments or any part thereof in any manner whatsoever. Please note that due to the volume of e-mails we receive, not all comments will be published and those that are published will not be edited. However, all will be carefully read, considered and appreciated.

Your Name (this will appear with your post) *

Email Address (will not be published) *

Comments *



* mandatory fields