TSX VENTURE EXCHANGE – OCT. 14-20

The S&P-TSX Venture Composite Index bounced up and down over the Oct. 14-20 trading session. On the first day of the week, it broke through the 1,000-point mark but by the next day it was back down in the 900s again, and there it stayed. By the end of the week, the board had gained 9.13 points to close at 984.94.

For the third week running, no junior mining companies reached new share prices highs and a huge number — 619–fell to new lows. Daily trading volumes were ordinary, averaging out to 77.8 million.

Without releasing any news Manicouagan Mineralsgrabbed top trader status, moving 19.2 million shares to fall by a penny to 5. The Toronto-based junior holds several exploration-stage projects in Quebec and Saskatchewan.

Quaterra Resources enjoyed a reasonable rebound after losing considerably during the previous week. This week, the junior gained 35 to end at $1.25. Earlier in the month, Quaterra announced good drill intercepts from its Nieves silver property in Zacatecas, Mexico, including 13.5 metres grading 254 grams silver per tonne.

One company still feeling the wrath of international financial uncertainty was Exeter Resource, which lost 77 or 37% to close the week at $1.31. The junior announced the start of a drill program at its Caspiche gold-copper project in Chile, which it downsized to 9,300 metres from 15,000 metres in order to conserve its treasury in the face of the “global credit situation.” The company currently has $23 million in the bank.

Stu Blusson’s Archon Minerals, which is active near the Ekati diamond mine north of Yellowknife, also had a tough week. The company is working with partner BHP Billiton to find a way to mine the Jay kimberlite pipe, which is speculated to hold 40 to 70 million tonnes of kimberlite grading 2 carats per tonne. The problem is that Jay is underneath a small lake, making mining expensive. Archon says it’s planning to test out a “visionary new mining method” for lake-based pipes but refuses to divulge the details. Archon closed the week down 40 at $1.30.

Archon was not the only diamond junior having a rough go, so to speak. Archangel Diamond lost 20 to close at 30 and Diamcor Mining lost 27 to close at 28.

The Saskatchewan coal dream team, Goldsource Mines, has also been struggling of late. The team’s summer drilling program had some great hits, such as 37 metres of continuous coal, but after running the stock up to $19 in June, the market has cooled to Goldsource’s work. Over the week, the junior lost another 39 to close at $1.78.

Finally, the price of nickel is falling — in six months it has fallen from over US$13 per lb. to its just under US$4.70 — and it’s taking nickel juniors with it. For example, Continental Nickel released no news over the week, but still lost 34 or 27% to close at 90.

TSX-V most active issues
	VOLUME	WEEK
	(000s)	HIGH	LOW	CLOSE	CHANGE
Manicouagan MlMAM	19220	0.06	0.04	0.05	-0.01
Skygold Vent SKV	8885	0.17	0.03	0.11	-0.04
Largo Res LGO	6918	0.19	0.10	0.13	-0.01
Robex Res RBX	6687	0.04	0.02	0.04	+ 0.01
Committee Bay CBR	6057	0.07	0.05	0.06	+ 0.01
Dia Bras Expl DIB	5785	0.09	0.04	0.08	-0.02
Sage Gold SGX	4972	0.10	0.08	0.09	+ 0.01
Hathor Expl HAT	4957	2.30	1.40	1.76	-0.09
US Silver USA	4501	0.15	0.09	0.10	-0.03
Mansfld Mnrls MDR	4033	0.45	0.26	0.29	-0.11

TSX-V greatest percentage change
		VOLUME	WEEK
		(000s)	HIGH	LOW	CLOSE	CHANGE
Luiri Gold	LGL	21	0.13	0.12	0.13	+225.0
Northern Hemis	NHD	128	0.06	0.05	0.06	+200.0
Santa Fe Metls	SFM	81	0.30	0.10	0.30	+150.0
Firesteel Res	FTR	22	0.12	0.10	0.12	+140.0
Golden Harp	GHR	12	0.19	0.19	0.19	+137.5
Cream Mnrls	CMA	218	0.14	0.09	0.14	+133.3
Silver Shield	SSR	33	0.09	0.04	0.09	+125.0
Golden Goliath	GNG	186	0.11	0.06	0.09	+125.0
Admiral Bay Rs	ADB	2259	0.23	0.09	0.20	+122.2
Erin Ventures	EV	438	0.03	0.01	0.02	+100.0
Xtierra	XAG	73	0.25	0.10	0.10	-88.5
Royal Roads	RRO	105	0.05	0.01	0.01	-85.7
New Dimen Res	NDR	91	0.04	0.01	0.01	-83.3
Wildcat Expl	WEL	114	0.05	0.01	0.01	-75.0
Nikos Expl	NIK	100	0.03	0.01	0.01	-75.0
Klondike Gold	KG	136	0.04	0.01	0.01	-66.6
Amseco Expl	AEL	60	0.09	0.04	0.04	-66.6
Pencari Mng	PMC	249	0.03	0.01	0.01	-66.6
Roxgold	ROG	679	0.05	0.01	0.01	-66.6
Ballad Gld & S	BGS	156	0.03	0.01	0.01	-66.6

TSX-V greatest value change
WEEK
		VOLUME	CLOSE	CHANGE
Aldridge Minls	AGM	15000	3.15	+ 0.43
Quaterra Res	QTA	222128	1.25	+ 0.35
Chesapeake Gld	CKG	131704	3.93	+ 0.23
Dejour Enterp	DEJ	420894	0.64	+ 0.23
Apoquindo Mnls	AQM	22000	0.70	+ 0.20
Roca Mines	ROK	1092271	1.03	+ 0.19
Santa Fe Metls	SFM	81000	0.30	+ 0.18
JNR Res	JNN	1062572	0.44	+ 0.18
Brett Res	BBR	782343	0.71	+ 0.16
Northern Star	NSM	581450	0.44	+ 0.16
Xtierra	XAG	72500	0.10	-0.77
Exeter Res	XRC	1186386	1.31	-0.76
Pac Booker Min	BKM	20250	5.50	-0.50
Archon Mineral	ACS	18300	1.30	-0.40
Goldsource Min	GXS	681011	1.78	-0.39
Contintl Nickl	CNI	23700	0.90	-0.34
Diamcor Mng	DMI	10011	0.28	-0.27
Clifton Star	CFO	74530	1.70	-0.21
Archangel Dia	AAD	197000	0.30	-0.20
Fortuna Silver	FVI	737791	0.60	-0.19