TSX Venture Exchange – JULY 28-31

On the last day of the truncated July 28-31 trading period, the S&P/TSX Venture composite index had one of its best showings in several months. It gained 32.53 points to close at 1,179.57. The gain came on news that the North American economy was shrinking less quickly than anticipated. Strong metal prices also reigned. Lead and zinc topped US80¢ per lb.; copper hovered at US$2.75 per lb.; silver was more than US$14 per oz.; and gold pushed above US$950 per oz.

Not surprisingly, then, average daily trading volume was brisk at 83.5 million and a greater number of companies (35) achieved 52-week highs than lows (27) during the four-day period. Overall, the Venture board gained 35.53 points.

Drill-hole results or news of pending results sustained much of the heavy lifting. Noront Resources was up 91¢ to $2.51 after it announced drilling lengthy vanadium intercepts at its Thunderbird property in the James Bay area of Ontario, in the “Ring of Fire” district. It has outlined mineralization over 900 metres of strike and recently drilled as much as 241 metres grading 0.37% vanadium.

East Asia Minerals gained 68¢ to $1.98 on news that it drilled 66 metres grading 3.29 grams gold per tonne at its Miwah project in Indonesia. Further results are pending.

San Gold’s shares climbed 49¢ to $2.94. The company hit 2 metres grading 60.3 grams gold as it was drilling underground at the Hinge mine, 1.5 km northeast of its operating Rice Lake mine and mill.

Hints of exploration results to come also boosted the stock of several juniors. Meritus Minerals, for instance, jumped 6.5¢ to 10¢ on news of receiving exploration licences in Mongolia. It also closed a private placement of 1.2 million shares at 10¢ a share and 600,000 warrants, each redeemable for a share at 15¢ for two years. Evolving Gold made strong gains just before it announced that it had finished 20 drill holes at its Rattlesnake Hills gold property in Wyoming. It was up 47¢ to $1.75. Evolving Gold says four more holes are under way and that results are forthcoming.

While the last week of July ended on a high note for many, it packed a wallop for others, such as Bear Lake Gold. Its share price had recently climbed above 70¢ a share from below 30¢ in May, largely propelled by good news at its Larder Lake property in northeastern Ontario. In mid-July, for example, it reported intercepting as much as 7.5 metres grading 10.4 grams gold.

However, a few days after that release, Bear Lake Gold halted trading to release what would be bad news: It reported that there were inconsistencies in the results from its drill holes. To investigate the matter, the company said it had retained Scott Wilson RPA, but that so far, it was too early to say what exactly was wrong with the data. While the investigation is under way, Bear Lake said it would suspend work at Larder.

After resuming trading, shares in the junior plummeted 44¢ to 26¢.

TSX-V most active issues
	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Noront Res NOT	25601	2.65	1.56	2.51	+ 0.91
MacDonald Mns BMK	22984	0.19	0.13	0.18	+ 0.03
East Asia Mnls EAS	15287	2.12	1.17	1.98	+ 0.68
Evolving Gold EVG	12551	1.94	1.15	1.75	+ 0.47
Red Pine Expl RPX	10135	0.10	0.06	0.10	+ 0.03
San Gold Res SGR	7682	3.01	2.27	2.94	+ 0.49
KWG Res KWG	7620	0.05	0.04	0.05	0.00
West Hawk Dev WHD	6416	0.02	0.01	0.01	0.00
Bear Lake Gold BLG	5648	0.30	0.23	0.26	-0.44
Endurance Gold EDG	5004	0.29	0.12	0.22	+ 0.10

TSX-V greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Bolero Res	BRU	27	0.39	0.22	0.31	+933.3
Meritus Mnls	MER	13	0.11	0.08	0.10	+233.3
Atlas Minls	AMR	779	0.05	0.01	0.05	+150.0
Cons Fortress	CFR	52	0.17	0.16	0.17	+142.8
Lomiko Res	LMR	1977	0.14	0.05	0.12	+140.0
Global Hunter	BOB	193	0.06	0.04	0.06	+100.0
Curlew Lke Res	CWQ	13	0.04	0.03	0.04	+100.0
Altima Res	ARH	1514	0.10	0.04	0.10	+100.0
African Metals	AFR	19	0.15	0.15	0.15	+ 87.5
Blackstone Res	BLV	1394	0.31	0.16	0.28	+ 86.6
Bear Lake Gold	BLG	5648	0.30	0.23	0.26	-62.8
Midasco Cap	MGC	13	0.03	0.01	0.01	-50.0
Threegold Res	THG	29	0.12	0.09	0.10	-37.5
Devonshire Res	DSH	113	0.12	0.07	0.07	-36.3
Gowest Amalg	GWA	26	0.12	0.09	0.09	-35.7
Zinccorp Res	ZN	135	0.05	0.04	0.04	-33.3
Verbina Res	VUR	10	0.25	0.20	0.20	-33.3
Stellar Pac Vt	SPX	658	0.03	0.02	0.02	-33.3
Redhawk Res	RDK	175	0.14	0.11	0.11	-31.2
Arcus Dev Grp	ADG	41	0.14	0.11	0.12	-29.4

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Tribune Uranm	TCB	23342	0.60	+ 1.36
SouthGobi Engy	SGQ	35950	14.00	+ 1.00
Noront Res	NOT	25600600	2.51	+ 0.91
East Asia Mnls	EAS	15286811	1.98	+ 0.68
San Gold Res	SGR	7681573	2.94	+ 0.49
Evolving Gold	EVG	12551200	1.75	+ 0.47
Amazon Mng	AMZ	785541	0.80	+ 0.29
Bolero Res	BRU	26703	0.31	+ 0.28
Exeter Res	XRC	220035	3.30	+ 0.28
Intl Tower Hil	ITH	482315	3.74	+ 0.24
Bear Lake Gold	BLG	5647923	0.26	-0.44
Anfield Vent	ANF	73600	1.95	-0.30
Pac Booker Min	BKM	20550	6.26	-0.28
Rare Elemnt Rs	RES	755311	2.50	-0.22
Mantra Mng	MAN	31490	0.90	-0.18
Clifton Star	CFO	81750	2.50	-0.15
Hathor Expl	HAT	1876748	1.70	-0.13
Helio Res	HRC	960200	0.78	-0.12
Quest Uranium	QUC	1370076	0.77	-0.12
Caerus Res	CA	58260	0.55	-0.11