TSX Venture Exchange – July 14-20

The S&P-TSX Venture composite index managed to gain every day but one during the week of July 14-20, leaving the board up 70.46 points at 1,118.09 by the end of the week. And daily trading volumes picked up significantly, averaging 88 million trades.

The bears still led the way, though, as 40 junior companies fell to new 52-week share-price lows. By comparison, 29 Venture-listed companies reached new highs.

Noront Resources was the week’s volume leader, moving 51.5 million shares to climb 89¢ to $1.50. The company did not release any news; in fact, it issued a release stating it did not know why its share price and volume were up, as it had no news pending.

Evolving Gold, on the other hand, moved 37 million shares to gain 72¢ or 160% on significant news: drilling at the company’s Rattlesnake Hills project in Wyoming returned 67 metres grading 10.8 grams gold per tonne in a stepout hole collared 145 metres southwest of earlier drilling. Other holes also cut promising intervals. Evolving Gold’s share price closed at $1.17.

Other companies with projects in the area also benefited; Endurance Gold, for example, gained 10¢ to reach 15¢ on its highest-volume week ever.

News of a resource at its Magpie titaniferous magnetite property lifted Fancamp Exploration’s share price 69¢ or 430% to 85¢ over the week. Based on just three holes, Fancamp delineated 84,000 indicated tonnes grading 42.4% iron, 10.7% TiO₂, and 1.6% chromium as well as 201,000 inferred tonnes averaging 42.1% iron, 10.6% TiO₂, and 1.5% chromium.

Rare Element Resources investors showed they understand the importance of metallurgy when they lifted the company’s share price 87¢ to $2.47 on news that initial test work shows 70% to 90% recovery of rare earth elements from samples of the Bull Hill Southwest oxide deposit. The Wyoming deposit hosts 9.8 million tons averaging 4.07% rare earth oxides.

SNS Silver has given up on the Sunshine mine in Idaho. The company took over most of a 20-year lease on the property in February when the previous leaser, Sterling Mining, went bankrupt and has since been funding and overseeing care and maintenance, including continuous water pumping. But in May, a judge ruled that Sterling did not officially vacate the lease before declaring bankruptcy and thus has title to cure it, which is significant because Sterling owed money supposedly guaranteed against the property to a list of creditors.

Last week, SNS decided to give up on its claim to the property in the face of a lengthy bankruptcy case.

And keeping its share price on a slow, steady climb, Romarco Minerals released assays from two holes drilled at Haile, the company’s gold project in South Carolina. One cut 37 metres of 8 grams gold; the other hit 34 metres of 5.3 grams gold.

Romarco gained 8¢ on the news to reach 80¢.

TSX-V most active issues
	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Noront Res NOT	51501	1.54	0.60	1.50	+ 0.89
Evolving Gold EVG	36786	1.35	0.57	1.17	+ 0.72
MacDonald Mns BMK	35236	0.19	0.05	0.16	+ 0.11
West Hawk Dev WHD	22452	0.03	0.01	0.02	-0.03
Fancamp Expl FNC	8363	0.98	0.16	0.85	+ 0.69
KWG Res KWG	8245	0.04	0.03	0.03	+ 0.01
US Silver USA	7338	0.16	0.12	0.14	+ 0.02
Endurance Gold EDG	5944	0.19	0.05	0.15	+ 0.10
RomarcoMnrls R	5767	0.87	0.69	0.80	+ 0.08
Azteca Gold AZG	5233	0.21	0.12	0.16	+ 0.02

TSX-V greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Fancamp Expl	FNC	8363	0.98	0.16	0.85	+431.2
MacDonald Mns	BMK	35236	0.19	0.05	0.16	+220.0
Endurance Gold	EDG	5944	0.19	0.05	0.15	+200.0
Rolling Rock	RLL	58	0.13	0.08	0.08	+166.6
Remstar Res	REM	149	0.12	0.08	0.08	+166.6
Evolving Gold	EVG	36786	1.35	0.57	1.17	+160.0
Noront Res	NOT	51501	1.54	0.60	1.50	+145.9
Glen Hawk Minl	GHM	2043	0.03	0.02	0.02	+100.0
Mazarin	MAZH	115	0.04	0.02	0.04	+100.0
Medoro Res	MRS	2613	0.48	0.25	0.48	+ 92.0
West Hawk Dev	WHD	22452	0.03	0.01	0.02	-60.0
Asbestos Corp	ABH	33	0.25	0.17	0.17	-57.5
Brigadier Gold	BRG	482	0.03	0.01	0.01	-50.0
Highbank Res	HBK	457	0.05	0.03	0.03	-50.0
Bonaventure En	BVT	1949	0.02	0.01	0.01	-50.0
Hawkeye Gold	HKO	694	0.02	0.01	0.01	-50.0
Agau Res	AGS	22	0.07	0.04	0.04	-42.8
Radisson Mng	RDS	86	0.12	0.07	0.07	-41.6
Cascade Res	CC	60	0.10	0.06	0.06	-40.0
Icon Industrs	ICN	10	0.10	0.10	0.10	-37.5

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Noront Res	NOT	51501439	1.50	+ 0.89
Rare Elemnt Rs	RES	1502197	2.47	+ 0.87
Evolving Gold	EVG	36786001	1.17	+ 0.72
Fancamp Expl	FNC	8363318	0.85	+ 0.69
East Asia Mnls	EAS	3291825	1.14	+ 0.43
Rainy River Rs	RR	749360	2.16	+ 0.37
Pac Booker Min	BKM	16500	6.08	+ 0.33
Coral Gold	CLH	454640	0.64	+ 0.29
Bear Creek Mng	BCM	139085	1.83	+ 0.28
Quest Uranium	QUC	4611091	0.70	+ 0.28
SouthGobi Engy	SGQ	176814	12.18	-0.57
Asbestos Corp	ABH	33147	0.17	-0.23
Nordex	NXX	42200	0.30	-0.17
Nevada Geo Pow	NGP	1109406	0.63	-0.12
Carat Expl	CRZ	134000	0.38	-0.10
Underworld Res	UW	2134230	1.58	-0.10
Gleichen Res	GRL	10000	0.50	-0.08
Midway Gold	MDW	16065	0.77	-0.07
Romulus Res	ROM	33000	0.36	-0.07
Mountain Lake	MOA	238000	0.18	-0.06