TSX VENTURE EXCHANGE – NOVEMBER 4-10

The mood prevailing over the S&P/TSX Venture Composite Index for the Nov. 4-10 trading period was a wary one. Although the index climbed from 935.59 points to as high as 975.27, the board nonetheless ended the trading session down 21.57 points overall at 914.02. The average daily trading volume was a modest 71.1 million shares.

With 266 new lows, about half as many companies hit bottom during this round compared with the last, when 496 did (and 692 before that). Although perhaps not a sure sign of a market that has bottomed out, the trend suggests the downward-spiralling share prices of past weeks may have, in part, settled down.

Despite lacklustre performance in the price of gold, it was a good week for some companies with gold assets. Exeter Resource posted a 42 gain to close the week out at $1.92. Its share price was in part buoyed by drill results showing good gold mineralization. During the trading session, Exeter announced hitting as much as 14 metres grading 5.7 grams gold per tonne and 20 grams silver at its Cerro Moro gold-silver property in Santa Cruz province, Argentina. It also hit 4 metres grading 1,510 grams silver and 9.8 grams gold.

Silverstone Resources also got a boost from its move into buying and selling gold. News that it had secured Sherwood Copper’s gold and silver byproduct from its Minto copper mine in the Yukon bumped its share price up 15. It closed the session at 70. Silverstone had previously focused its sales on silver, but with the Sherwood contract, gold will account for about half of the value of its sales in 2009. Silverstone forecasts silver-equivalent sales will double next year.

Likewise, although it released no news, a gold affiliation may have helped Maudore Minerals during the trading session. The company, which owns the 120-sq.-km Comtois property, in the Abitibi greenstone belt, in Quebec, saw its share price jump by 22 to close the session at $1.86. Comtois hosts an inferred resource of about a half million oz. gold.

It was uranium, not gold, that boosted Strathmore Minerals, which climbed 11 to close at 41. Though it didn’t release news of significance, the company is in the permitting stage at the Gas Hills uranium project, in Wyoming. Currently, the company says it is working on the engineering design of the project’s open pits.

And despite its allure this week, being in gold was no guarantee. After a good round for its share price during the previous trading session, Chesapeake Gold lost 25 to close at $3.28 on no news.

SouthGobi Energy Resources also had a rough ride during the session after posting solid gains a week before. SouthGobi lost 80 to close at $8.20 despite announcing it had confirmed the high-quality nature of coking coal at its Mamahak project, in Indonesia.

TSX-V most active issues
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Probe Res	PBR	8175	0.22	0.14	0.15	-0.04
US Silver	USA	7142	0.08	0.05	0.06	+ 0.01
Rusoro Mng	RML	5049	0.65	0.40	0.54	+ 0.04
Terrane Metals	TRX	4251	0.22	0.17	0.17	-0.04
Crowflight Mnl	CML	4220	0.17	0.11	0.13	-0.02
Arctic Star Di	ADD	3965	0.05	0.03	0.03	0.00
KWG Res	KWG	3869	0.02	0.01	0.02	0.00
Solitaire Mnls	SLT	3858	0.04	0.03	0.03	+ 0.01
Eaglecrest Ex	EEL	3785	0.05	0.02	0.04	0.00
Axmin Inc	AXM	3745	0.12	0.09	0.10	-0.02

TSX-V greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
E-Energy Vent	EEV	379	0.08	0.05	0.05	+400.0
Astral Mining	AST	79	0.12	0.06	0.06	+200.0
Teuton Res	TUO	246	0.08	0.05	0.05	+150.0
CZM Capital	CZM	244	0.05	0.03	0.05	+150.0
Thunder Sword	THU	31	0.10	0.09	0.10	+150.0
TNR Gold	TNR	832	0.09	0.05	0.05	+150.0
Pebble Ck Mng	PEB	16	0.17	0.09	0.09	+125.0
Cue Res	CUE	998	0.27	0.10	0.18	+125.0
Gleichen Res	GRL	113	0.28	0.15	0.28	+115.3
Ringbolt Vent	RBV	388	0.23	0.14	0.17	+112.5
African Aura	AAZ	21	0.05	0.01	0.01	-80.0
Gold World Res	GDW	67	0.03	0.01	0.01	-66.6
La Quinta Res	LAQ	771	0.06	0.01	0.01	-66.6
Sultan Mnrls	SUL	178	0.04	0.01	0.01	-66.6
Softrock Mnrl	SFT	34	0.03	0.01	0.01	-66.6
Icon Industrs	ICN	84	0.08	0.03	0.03	-62.5
Gold Canyon	GCU	267	0.06	0.02	0.02	-60.0
Savant Expl	SVT	52	0.04	0.04	0.04	-60.0
Finlay Minrls	FYL	300	0.02	0.02	0.02	-60.0
Eureka Res	EUK	51	0.10	0.03	0.05	-58.3

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Grizzly Diamnd	GZD	35050	0.70	+ 0.29
Macarthur Mnl	MMS	30006	1.20	+ 0.24
Exeter Res	XRC	1059100	1.92	+ 0.24
Maudore Minls	MAO	65009	1.86	+ 0.22
Silverstone Rs	SST	374910	0.70	+ 0.21
Strathmore Min	STM	621625	0.41	+ 0.18
Northern Star	NSM	1434921	0.62	+ 0.18
Dejour Enterp	DEJ	71825	0.68	+ 0.16
Penteco Res	PEN	163000	0.35	+ 0.15
Gleichen Res	GRL	113000	0.28	+ 0.15
SouthGobi Engy	SGQ	185650	8.20	-0.70
Chesapeake Gld	CKG	90836	3.28	-0.49
Clifton Star	CFO	71750	1.30	-0.47
Roca Mines	ROK	1741100	0.43	-0.41
Whitemud Res	WMK	14584	2.80	-0.40
Antares Minls	ANM	33900	0.93	-0.22
Goldsource Min	GXS	1211095	1.76	-0.19
Duran Vent	DRV	298252	0.22	-0.18
Western Uran	WUC	68000	0.58	-0.18
Underworld Res	UW	47500	0.32	-0.18