TSX Venture Exchange – Sept. 8-14

The first half of September has been kind to the S&P/TSX Venture composite index. Over the Sept. 8-14 reporting period, the Venture board added to gains made earlier in the month, closing up 24.58 points at 1,253.83. Not only did trading volume show stamina over the period, never less than 100 million shares on any given day and averaging 116 million shares, but it began the five-day period with a sprint of 136 million, the highest single-day volume since May.

Not surprisingly, the strong performance on the Venture board was matched by bullish commodity prices. Gold, for example, broke the benchmark of US$1,000 per oz. The resurgent interest in metals funnelled cash into a slew of companies, pumping up many of their share prices to yearly records. The number of companies reaching 52-week highs outnumbered those sinking to lows by nearly 4 to 1.

Exeter Resource was one of those rising to a yearly record. Exeter gained 55¢ to $4.60, largely propelled by an updated inferred resource at its Caspiche project in Chile. That grew to 1.1 billion tonnes grading 0.55 gram gold per tonne and 3.81 grams silver in both the oxide and sulphide categories. Copper in sulphides, which predominate the deposit, were up to 1 billion tonnes grading 0.22%. With such a massive inferred resource, Exeter says it is currently conducting both expansion and infill drilling to upgrade and grow the resource estimate.

Quest Uranium continued on a remarkable trajectory. As recently as May, Quest was trading below 10¢, but during the five-day reporting period its shares gained 53¢ to $2.16. The interest in the company is related to its Strange Lake property in Quebec and Labrador where this summer it collected compelling rare earth element grab samples from the B zone, a 2-km-long geophysical anomaly. Quest sampled as much as 14.43% total rare earth oxides.

Decade Resources also found its shares on an incredible run. Not only was its stock up 26¢ to 69¢, but as recently as the end of August it was trading below 10¢. The stellar end to summer for Decade was fuelled by gold-mineralized intercepts it drilled at the Red Cliff project in northwestern B. C. Decade’s drill program returned as much as 28 metres grading 7.3 grams gold starting 74 metres down-hole.

Noront Resources’ shares were back on the rise, up 21¢ to $2.19, after a slow August. Spurring gains were chromite drill results from its Blackbird project in Ontario’s James Bay lowlands.

Other notables on the rise were Argentex Mining, up 30¢ to 90¢, Animas Resources, up 25¢ to $1.05, and Centurion Minerals, up 21¢ to 46¢.

On the minus side, Evolving Gold experienced the harshest loss in absolute terms, down 42¢ to $1.16. Others joining it in negative territory were Constantine Metal Resources, off 13¢ to 21¢, Rainy River Resources, down 21¢ to $2.19, and Eurasian Minerals, down 15¢ to $1.40.

TSX-V most active issues
	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Great Western GWG	50092	0.39	0.28	0.29	+ 0.01
San Gold Res SGR	11379	3.30	2.94	3.04	-0.13
RomarcoMnrls R	10700	1.20	1.00	1.17	+ 0.06
Mountain Boy MMTB	9781	0.17	0.09	0.14	+ 0.04
Decade Res DEC	9029	0.87	0.34	0.69	+ 0.26
Avion Res AVR	9026	0.40	0.34	0.38	+ 0.05
Canasia Indust CAJ	8522	0.14	0.12	0.14	+ 0.01
Strategic Res UVR	8451	0.06	0.03	0.05	+ 0.02
Canada Lithium CLQ	7904	0.68	0.54	0.56	-0.05
Sage Gold SGX	7651	0.07	0.06	0.06	+ 0.01

TSX-V greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Curlew Lke Res	CWQ	461	0.07	0.04	0.06	+200.0
Orsa Vent	ORN	31	0.08	0.05	0.08	+166.6
Pac Comox	PCM	4580	0.06	0.01	0.05	+150.0
Bard Vent	CBS	3718	0.17	0.08	0.16	+128.5
Hawkeye Gold	HKO	862	0.02	0.01	0.02	+100.0
Win Eldrich Mn	WEX	152	0.38	0.20	0.35	+ 94.4
Centurion Mnls	CTN	351	0.47	0.30	0.46	+ 84.0
Pac Bay Mnrls	PBM	1234	0.10	0.04	0.09	+ 80.0
Boxxer Gold	BXX	3656	0.10	0.05	0.09	+ 80.0
Galahad Mtls	GAX	376	0.16	0.08	0.12	+ 71.4
Intl Gold Mng	IGL	1917	0.03	0.01	0.01	-66.6
Mazarin	MAZH	17	0.06	0.04	0.04	-50.0
Softrock Mnrl	SFT	30	0.05	0.04	0.04	-42.8
Constant Mtl R	CEM	1333	0.34	0.21	0.21	-38.2
Rio Cristal Zn	RCZ	82	0.05	0.05	0.05	-37.5
Tr-River Vent	TVR	14	0.15	0.15	0.15	-34.7
Horseshoe Gld	HSX	85	0.03	0.02	0.02	-33.3
Lakewood Mng	LKW	33	0.02	0.02	0.02	-33.3
C2C Gold	CCN	3107	0.06	0.03	0.04	-33.3
Devonshire Res	DSH	10	0.09	0.09	0.09	-30.7

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Exeter Res	XRC	1544497	4.60	+ 0.55
Quest Uranium	QUC	3658562	2.16	+ 0.53
Argentex Mng	ATX	228900	0.95	+ 0.3 0
Intl Tower Hil	ITH	821404	4.50	+ 0.27
Decade Res	DEC	9029120	0.69	+ 0.26
Animas Res	ANI	1096465	1.05	+ 0.25
Centurion Mnls	CTN	350700	0.46	+ 0.21
Midway Gold	MDW	132475	1.05	+ 0.21
Noront Res	NOT	4925310	2.19	+ 0.21
Magellan Minls	MNM	395994	0.85	+ 0.20
Evolving Gold	EVG	7012730	1.16	-0.42
Corsa Capital	CSO	34000	0.60	-0.25
Rainy River Rs	RR	454790	2.19	-0.21
Anfield Vent	ANF	55700	3.01	-0.19
Clifton Star	CFO	188771	2.13	-0.17
Salazar Res	SRL	86300	1.02	-0.16
Rare Elemnt Rs	RES	1440283	3.54	-0.16
Eurasian Minls	EMX	128220	1.40	-0.15
Amazon Mng	AMZ	187785	0.55	-0.13
Constant Mtl R	CEM	1333000	0.21	-0.13