The bloodletting on North American equity markets did not miss the S&P-TSX Venture Composite Index over the Aug. 7-13 trading session with the junior board posting a 6.3% decline to finish the session off 195.66 points at 2,885.88. Average daily trading volumes picked up a bit at 74.8 million shares.
A roaring bearish wave overtook the junior market with 126 companies sinking to new 52-week lows versus only 14 explorers managing new annual highs.
The highly liquid Peak Gold grabbed top trader status with 12 million shares changing hands to close off two pennies at 54 per share. Earlier this year it acquired the Peak mine in Australia and the Amapari mine in Brazil from Goldcorp.
Slumping nickel prices took their toll on Crowflight Minerals, which slumped 11 to 66 per share on the session on volume of almost 11.3 million shares. It is building a mine at the Bucko Lake nickel deposit, in northern Manitoba, where an early 2008 startup is expected.
Despite recently beginning operations at its Caribou lead-zinc mine in New Brunswick, shares of Blue Note Mining dropped 7 to close the week at 58 apiece on volume of almost 8.3 million.
With a modest slip in zinc prices over the past few weeks Yukon Zinc closed off a nickel at 22 per share on trading volume of over 7.6 million shares. It is developing a road to get to its Wolverine zinc-copper-lead-silver-gold deposit in southeastern Yukon where a feasibility study was done last year.
Despite putting out high-grade nickel intercepts from its 49%-held West Raglan project in northern Quebec, Knight Resources saw its shares pull back from a multi-year high to close the week down 18, or 26%, at 52 apiece on volume of 5.7 million shares. It is joint ventured with Anglo American, which holds the remaining 51%.
A $3.65 per share takeover offer rallied trading in Primary Metals which closed the week up 86, or 32%, to $3.51 per share on volume of over 675,000 shares. Japanese-based Sojitz tabled an offer to acquire the Panasqueira tungsten mine in central Portugal.
Antares Minerals rallied to a new high, gaining 75 to close the session at $4.00 per share volume of almost 1.6 million shares. The second hole in its current program on the Haquira copper-gold porphyry project in southern Peru returned 384.8 metres of 0.74% copper and 0.042% molybdenum.
Nautilus Minerals shed 22% on the week, closing down 88 at $3.12 per share on over 850,000 shares of volume. The prospective sea-floor miner has been in a sharp decline since early July when a tentative agreement with its Belgium-based ship building partner lapsed.
Shares of Titan Uranium plummeted 35%, or 58, to close at $1.07 apiece on trading volume of 1.2 million shares. Drill results from its Carlson Creek project in the eastern Athabasca basin failed to meet expectations, only showing slightly anomalous uranium values.
TSX-V greatest percentage change
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | |||
| Anglo-Bomarc | ANB | 48 | 0.27 | 0.20 | 0.27 | + | 35.0 |
| Northern Plat | NTH | 18 | 0.84 | 0.61 | 0.83 | + | 33.8 |
| Cascadero Copp | CCD | 85 | 0.24 | 0.18 | 0.24 | + | 33.3 |
| Primary Metals | PMI | 676 | 3.60 | 3.47 | 3.51 | + | 32.4 |
| Prospctr C Res | PRR | 432 | 0.20 | 0.13 | 0.175 | + | 29.6 |
| Diagem Intl | DGM | 3559 | 0.10 | 0.06 | 0.08 | + | 23.0 |
| Antares Minls | ANM | 1593 | 4.00 | 2.93 | 4.00 | + | 23.0 |
| Blackstone Res | BLV | 2492 | 0.87 | 0.66 | 0.87 | + | 20.8 |
| Wellstar Enrgy | WST | 60 | 0.21 | 0.18 | 0.21 | + | 20.0 |
| Action Minls | ATM | 1091 | 0.16 | 0.135 | 0.155 | + | 19.2 |
| Rockgate Cap | RGT | 837 | 2.06 | 0.95 | 1.14 | – | 44.6 |
| Adroit Res | ADT | 14 | 0.25 | 0.195 | 0.195 | – | 43.4 |
| Diadem Res | DRL | 17 | 0.20 | 0.13 | 0.165 | – | 43.1 |
| Zinco Mng | ZIM | 13 | 0.73 | 0.39 | 0.73 | – | 39.6 |
| Cooper Mnls | CQ | 712 | 0.56 | 0.365 | 0.365 | – | 39.1 |
| Titan Uranium | TUE | 1208 | 1.62 | 1.04 | 1.07 | – | 35.1 |
| Thunder Sword | THU | 32 | 0.52 | 0.415 | 0.415 | – | 35.1 |
| Westar Res | WER | 100 | 0.315 | 0.205 | 0.205 | – | 34.9 |
| Columbia Yukon | CYU | 734 | 1.55 | 0.92 | 1.00 | – | 33.3 |
| Orsa Vent | ORN | 10 | 0.25 | 0.21 | 0.21 | – | 32.2 |
TSX-V greatest value change
| VOLUME | CLOSE | CHANGE | |||
| Seabridge Gold | SEA | 96855 | 34.01 | + | 3.41 |
| Pac Booker Min | BKM | 15443 | 12.40 | + | 1.20 |
| Primary Metals | PMI | 675948 | 3.51 | + | 0.86 |
| Antares Minls | ANM | 1593238 | 4.00 | + | 0.75 |
| Palmarejo S&G | PJO | 358779 | 10.40 | + | 0.54 |
| Anooraq Res | ARQ | 1028260 | 3.07 | + | 0.45 |
| Azimut Expl | AZM | 274499 | 7.45 | + | 0.31 |
| Northern Plat | NTH | 17500 | 0.83 | + | 0.21 |
| Mansfld Mnrls | MDR | 250697 | 3.16 | + | 0.16 |
| Blackstone Res | BLV | 2492245 | 0.87 | + | 0.15 |
| Arizona Star | AZS | 84634 | 10.72 | – | 1.48 |
| Northern Dyn M | NDM | 1302511 | 13.50 | – | 1.32 |
| Rockgate Cap | RGT | 836872 | 1.14 | – | 0.92 |
| Nautilus Minls | NUS | 852794 | 3.12 | – | 0.88 |
| Geovic Mng | GMC | 1186587 | 2.31 | – | 0.74 |
| Zeox | ZOX | 566468 | 2.40 | – | 0.70 |
| Wealth Minls | WML | 303143 | 2.51 | – | 0.67 |
| Genco Res | GGC | 260050 | 3.30 | – | 0.60 |
| Pearl Ex & Pr | PXX | 585346 | 4.36 | – | 0.59 |
| Titan Uranium | TUE | 1208027 | 1.07 | – | 0.58 |
TSX-V most active issues
| VOLUME(000s) | HIGH | LOW | CLOSE | CHANGE | |||
| Peak Gold | PIK | 12006 | 0.60 | 0.50 | 0.54 | – | 0.02 |
| Crowflight Mnl | CML | 11282 | 0.77 | 0.60 | 0.66 | – | 0.11 |
| Blue Note Mng | BN | 8280 | 0.65 | 0.53 | 0.58 | – | 0.07 |
| Yukon Zinc | YZC | 7686 | 0.27 | 0.195 | 0.22 | – | 0.05 |
| Knight Res | KNP | 5733 | 0 .72 |
0.44 | 0.52 | – | 0.18 |
| Spider Res | SPQ | 4461 | 0.04 | 0.03 | 0.035 | 0.00 | |
| Montello Res | MEO | 4406 | 0.165 | 0.14 | 0.16 | + | 0.01 |
| Brazalta Res | BRX | 4148 | 1.05 | 0.90 | 0.99 | – | 0.06 |
| US Silver | USA | 4131 | 0.90 | 0.80 | 0.89 | – | 0.01 |
| Uracan Res | URC | 3815 | 1.05 | 0.70 | 0.93 | – | 0.15 |
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