The Dec. 6-10 period saw the S&P TSX Venture composite index end up 14.37 points at 2124.30. Volume was in line with recent weeks, averaging 175 million shares traded daily. The bears-to-bulls ratio also kept roughly steady, with 159 juniors hitting 52-week highs, while 49 fell to new lows.
Leading both the percentage gain and volume categories, Ashburton Ventures saw 95 million shares traded as its share price tripled from 6.5¢ to 19.5¢. The company reported silver assay results from samples taken at its Deep Creek project near Elko, Nev., which had already shown to contain some high gold grades. Sample highlights included 828 grams silver per tonne, 249 grams silver and 123.5 grams silver, with vein widths estimated at under a metre for the highest grade and 20 cm for the other two samples. The company also announced a $600,000-financing with Premier Gold Mines of 7.5 million units at 8¢ each.
Seafield Resources saw 92 million shares traded after it released more news from its Quinchia gold project in Colombia. The company has moved drills from where it hit 449 metres grading 1.29 grams gold to a porphyry target 3 km northwest. Trenching on the target has returned 94 metres of 1.75 grams gold from surface, including 8 metres averaging 5.51 grams gold. Seafield’s share price climbed 9¢ to 68¢, a week after jumping 35¢ to 57¢. The company also announced a $15-million non-brokered private placement of 30 million units at 50¢ each.
Canaco Resources had a second big week, climbing $1.22 to $5.97 after releasing drill results from its Magambazi gold discovery in Tanzania. Results included 48.6 metres carrying 14.81 grams gold, 8.4 metres averaging 80.9 grams gold and 13.4 metres at 13.54 grams gold in infill drilling. The results came a week after a licensing issue was resolved at the project in Canaco’s favour.
Antares Minerals was the highest value gainer, climbing $1.47 to $9.15. The jump came as security holders approved a November plan of arrangement that involvesFirst Quantum Minerals acquiring Antares’ large Haquira polymetallic project in Peru for roughly $460 million, or $6.35 per share. Antares’ other assets are to be spun out into Regulus Resources, which will be largely owned by Antares shareholders. The Alberta court also gave final approval for the deal.
Alderon Resource’s share price got a boost after the company exercised its option right for a 100% interest in the Kamistiatusset iron ore project in western Labrador. The company’s shares were up 65¢ to $2.95, a new 52-week high. To secure the project, Alderon issued 32.3 million shares to Altius Minerals and nominated Altius’ chairman John Baker and its CEO Brian Dalton to the Alderon board. Alderon has also completed a 26,000-metre drill program on the project.
|TSX-V most active issues|
|Ashburton Vent||ABR||95312||0.25||0.06||0.19||+ 0.12|
|Seafield Res||SFF||92152||0.77||0.53||0.68||+ 0.11|
|Sidon Intl Res||SD||43507||0.26||0.17||0.19||+ 0.02|
|Geo Minerals||GM||32366||0.16||0.06||0.10||+ 0.04|
|Encore Ren Res||EZ||27802||0.08||0.06||0.07||0.00|
|Brookemnt Cpt||BKT||14910||0.24||0.14||0.18||+ 0.04|
|Eagle Plains||EPL||13855||1.28||0.82||1.00||+ 0.26|
|Am Cons Minls||AJC||13510||0.10||0.05||0.09||+ 0.02|
|TSX-V greatest percentage change|
|Ashburton Vent||ABR||95312||0.25||0.06||0.19||+ 171.4|
|Pac Casc Minls||PCV||2528||0.07||0.05||0.06||+ 100.0|
|Cadillac Mng||CQX||7760||0.33||0.17||0.33||+ 94.1|
|Gee-Ten Vent||GTV||588||0.47||0.25||0.45||+ 87.5|
|Pac Coast Nikl||NKL||1248||0.16||0.09||0.14||+ 75.0|
|Pebble Ck Mng||PEB||1426||0.19||0.11||0.17||+ 70.0|
|Actus Mnls||AAC||230||0.10||0.09||0.10||+ 66.6|
|United Reef||URP||1347||0.05||0.04||0.05||+ 66.6|
|Geo Minerals||GM||32366||0.16||0.06||0.10||+ 66.6|
|Superior Mng||SUI||937||0.26||0.18||0.26||+ 62.5|
|TSX-V greatest value change|
|Antares Minls||ANM||671245||9.15||+ 1.47|
|Canaco Res||CAN||9937311||5.97||+ 1.22|
|Alderon Res||ADV||1779944||2.95||+ 0.65|
|Universal Powr||UNX||2042226||3.63||+ 0.51|
|Rome Res||RMR||170438||1.45||+ 0.43|
|Reservoir Capt||REO||3913049||1.36||+ 0.41|
|Amazon Mng||AMZ||985484||4.96||+ 0.40|
|Timmins Gold||TMM||3976653||2.49||+ 0.38|
|Rainy River Rs||RR||1681047||12.30||-0.35|
|Quest Rare Mnl||QRM||1217355||4.76||-0.30|