Veteran miner Kerry Knoll bets on moly renaissance

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HECLA MINING
Offers US$37M for Mines Management / 3
CENTERRA GOLD
Faces $320M in fines at Kumtor / 5
ENDEAVOUR SILVER
To buy Oro Silver for $10.5M / 13
JUNE 6-12, 2016 / VOL. 102 ISSUE 17 / GLOBAL MINING NEWS · SINCE 1915 / $3.99 / WWW.NORTHERNMINER.COM
Veteran miner Kerry Knoll
bets on moly renaissance
BIOGRAPHY | Darnley Bay options Thompson Creek's former Davidson project
BY TRISH SAYWELL
[email protected]
S
ince leaving his job as a journalist at The Northern Miner
in 1987, Kerry Knoll has cofounded four companies and built
four mines with his business partner
Ian McDonald.
Their first company, Glencairn
Gold, went on to become Central Sun Mining before getting
snapped up by B2Gold (TSX: BTO;
NYSE-MKT: BTG). Their second
company, Wheaton River Minerals, was eventually taken over by
Goldcorp (TSX: G; NYSE: GG), and
their third, Blue Pearl Mining, is
now known as Thompson Creek
Metals (TSX: TCM).
Today the entrepreneurs are still
involved in projects together, such
as the Paris Hills phosphate property in Idaho, owned by Stonegate
Agricom (TSX: ST), a company they
set up in 2006 and took public in
2010. McDonald serves as chairman
of the board and CEO, and Knoll
is a director.
Lately, however, Knoll has become enamoured once again with
molybdenum — a metal that he and
McDonald profited from handsomely during their stewardship
of Blue Pearl Mining.
Within three months of acquiring the Davidson property near
Smithers, B.C., in late 2004, the
price of molybdenum oxide doubled
from US$6–7 per lb. to US$14 per lb.
moly. The company’s shares soared
from 6¢ at the time of optioning
Davidson to $3 — a “50-bagger,”
in the industry lingo.
“Our timing was fortunate,”
Knoll recalls in an interview during a recent business trip to Toronto.
“Suddenly we were the hot stock
on the street.”
Knoll says the timing could be
right for a spike in molybdenum
prices once again, and in March,
Darnley Bay Resources (TSXV:
DBL), a junior exploration company where he serves on the board
of directors, optioned the same
Davidson project that Blue Pearl
owned a decade ago.
To support his instincts, Knoll
likes to point to a research report
Roskill Consulting released on
March 1 that forecasts rising de-
Golden
Predator
attracts
heavy
hitters
YUKON GOLD | Shares
rocket 47% following
high-profile investments
BY TRISH SAYWELL
[email protected]
A
lbert Friedberg and his
Friedberg Mercantile Group
were listed among the top40, highest-earning hedge fund
managers in the world by Forbes
magazine in 2011.
More recent rankings weren’t
immediately available, but when
the Toronto-based trader with billions of dollars under management
invests in a junior mining company,
its stock tends to take off.
That’s precisely what happened
when Golden Predator Mining
(TSXV: GPY) announced that an
entity controlled by Friedberg and
members of his immediate family
See GOLDEN PREDATOR / 11
PM40069240
Ian McDonald (left) and Kerry Knoll in 1993, holding the first gold bar produced at the Golden Bear heap-leach mine in British
Columbia. PHOTO COURTESY OF KERRY KNOLL
“THE FACT THAT WE ACCOMPLISHED
SOMETHING MOST JUNIOR COMPANIES
ONLY DREAM OF WAS THE TRUE
SUCCESS STORY.”
KERRY KNOLL
MINING ENTREPRENEUR
mand for molybdenum-bearing
steel and chemicals will support
a recovery in ferro molybdenum
prices to US$13 to $US15 per lb.,
starting from 2017. Prices for
ferro molybdenum plunged from
US$35.39 per lb. in June 2014 to
US$4.70 per lb. in November 2015,
and sit at US$5.50 per lb. ferro
molybdenum.
“That’s a big, bold prediction,”
Knoll says. “That’s not saying it is
going up 20%, that’s saying it’s going
to go up two and a half times … we
know Davidson is not economic at
US$5.50 per lb., but at US$15 per
lb., it probably is.”
Under the Davidson option
agreement, Darnley Bay made an
initial payment of $50,000 to Roda
Holdings in April. Subsequent payments of $100,000 are due on the
anniversary of the agreement until
the project starts commercial production — defined as a minimum
500,000 tonnes of molybdenum
over 12 months.
“It’s really rare that you can buy
something this cheap — our down
payment is the cost of one drill
hole,” Knoll says, adding that when
Blue Pearl owned Davidson and
molybdenum prices were at their
peak, the project was probably
worth $250 million.
Darnley Bay is also getting a
project that has had quite a lot
of work done already. Previous
See KERRY KNOLL / 2
FILM: POINTING THE LENS AT BC'S GOLDEN TRIANGLE / 4
1 2 3 4 5 11 13 14 16_Jun6_Main .indd 1
2016-05-31 7:12 PM
2
WWW.NORTHERNMINER.COM
JUNE 6–12, 2016 / THE NORTHERN MINER
KNOLL From 1
owners completed 62,000 metres
of diamond drilling from surface
and underground. It also undertook 2,600 metres of underground
excavation, primarily a 2 km long
exploration adit driven into the
heart of Hudson Bay Mountain,
where the deposit lies.
After Thompson Creek Metals
optioned the Davidson property in
2005, it completed another 12,000
metres of diamond drilling from
surface and underground, as well
as some metallurgical test work.
In 2006, Blue Pearl raised $700
million ($400 million in debt and
$300 million in equity) to acquire
Thompson Creek Metals, which at
the time was the largest privately
owned mining company in the
United States.
“I’m not positive, but that’s the
largest raise by a junior mining
company ever,” Knoll says. “When
I say a ‘junior mining company,’ I
am referring to a company with no
actual production. That was Ian — he
did it. I was busy running Glencairn
at the time.”
In 2007, Blue Pearl changed its
name to Thompson Creek Mining.
McDonald, Blue Pearl’s co-founder and Knoll’s long-time business
partner, reminisces in a telephone
interview from the Bahamas that
“the stars and the moon were aligned
with Blue Pearl.”
The valuations were certainly
sky-high. When Blue Pearl bought
Thompson Creek, it was making a
million-dollar-a-day profit at US$30
per lb. moly. “But the street valued
it at US$2 billion, and that is where
our market cap went, and the shares
reached $24 by 2007 — by now a
400-bagger — and again we were
the best performing stock on the
TSX,” Knoll says. “Just raising the
$700 million made us heroes again.
But the fact that we accomplished
something most junior companies
could only dream of doing was the
true success story.”
Thompson Creek disposed of the
Davidson project in 2013 when it got
out of the molybdenum business
— giving Knoll the opportunity to
jump back into the project.
“They were closing their moly
mines,” Knoll says, adding that
Thompson Creek is “in difficult
straits right now because of their
debt.”
Now Darnley Bay has access to
the Davidson drill core, which has
been preserved in Smithers.
“We’re getting a property at exactly the point I like a property to
be — it’s at the stage where you can
do a feasibility study,” Knoll says,
adding that Thompson Creek Metals
did a feasibility study on Davidson
in 2008, but never filed it on SEDAR.
(The study envisioned moving the
ore 200 km by truck to the privately
owned Endako mill. The trip alone
accounted for half the production
costs of US$9.46 per lb. molybdenum
— and was a non-starter.)
If the numbers in Darnley Bay’s
upcoming feasibility study on Davidson look good, the company would
consider building a stand-alone mill
for the project.
For Knoll, the downturn in the
commodities market and the fact
that so many companies are staggering under piles of debt and, like
Thompson Creek, have had to shed
assets, makes it the perfect time for
lucrative deals.
“This is the best time in the history
of our business to get involved in a
deal, and that’s why we’re doing it,”
he says of Darnley Bay’s Davidson
option. “But we’re not going to stick
with just this one property. We want
to get three or four properties and
different commodities.”
His first preference is for projects
in British Columbia.
“We still think B.C. is one of the
best places to be,” he says. “It has
never ranked high on the Fraser
Institute’s lists, but there have been
more mines built there over the last
20 years than any other province
or state.”
One of those was Canada’s first
heap-leach operation at the Golden
Bear mine, 145 km west of Dease
Lake.
Knoll and McDonald acquired
Golden Bear in 1997 and turned it
into a heap-leach operation. (The
mine eventually ended up in the
hands of Goldcorp after its merger
with Wheaton River.)
Knoll says he became fascinated
by heap-leach mines while covering
them as a reporter at The Northern
Miner.
“I wrote a long article about heap
leaching and I started asking why
there weren’t any heap leach mines
in Canada, and everybody had their
reasons, but none of them added
up,” he recalls.
The Davidson molybdenum project near Smithers, B.C., which Darnley Bay
Resources optioned in March. DARNLEY BAY RESOURCES
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Interested? Call 867-333-3888.
1 2 3 4 5 11 13 14 16_Jun6_Main .indd 2
The Glencairn Gold team at the Bellavista gold mine under construction in Costa Rica in 2004, including Kerry Knoll (front,
second from right) and Ian McDonald (standing, third from right). PHOTO BY JOHN CUMMING
Glencairn Gold’s El Limon gold mine in Nicaragua, as seen in 2004. PHOTO BY JOHN CUMMING
“One theory reasoned that it was
because of Canada’s cold temperatures. I called up a company called
‘Pegasus,’ which operated five heapleach mines in Montana, which is
as cold as Canada, and they said the
cold wasn’t a problem at all. They said
all it does is slow down the leaching
process a little bit. So I thought, I’m
going to leave The Northern Miner,
and I’m going to find a heap-leach
deposit in Canada and be the first.
Well, we were the first.”
Knoll estimates that the Golden
Bear mine had about a year left
of reserves when the company
he co-founded with McDonald,
called “Wheaton River,” bought it
for $500,000 from Homestake, a
large mining company in the U.S.
(Homestake merged with Barrick
Gold in December 2001.)
“Homestake also posted a bond to
pay off all the severance and clean
up all the environmental stuff, so we
got it in pretty good shape for next
to nothing,” Knoll says. “We started
drilling and found two deposits and
switched it to a heap-leach mine.
Even though gold was US$275 per oz.
at the time, we were able to produce
gold for US$125 per oz., so we were
pretty profitable.”
McDonald adds that “we mined
the whole thing out at sub-US$300
per oz. gold, so it was only a five-year
mine life. We learned how risky
mining is, but how rewarding it can
be too. The stock went from 20¢ to
$5, twice — all within two years.”
After Wheaton River finished
mining out Golden Bear in 2002,
Knoll was approached by a group
of people led by Frank Giustra that
included Pierre Lassonde and Ian
Telfer, who wanted to buy the company and use it as a vehicle to buy
gold assets. After turning the keys
over to them, Knoll stayed on for
another year or so, before leaving
permanently.
Telfer took over as president and
embarked on an acquisition spree.
“Their timing was brilliant,” Knoll
recalls. “Telfer was able to raise a lot
of money and his timing was great
… so Wheaton River turned out
well. Then they spun off the concept
with Silver Wheaton. It worked out
very well for me.”
Indeed, when the first company
Knoll co-founded with McDonald,
Glencairn Gold, sold its shares of
Wheaton River, the profits allowed
management to turn Glencairn into
an operating company. By the mid2000s, Glencairn had built three
mines in Central America: El Limon
and La Libertad in Nicaragua, now
owned by B2Gold, and the Bellavista
mine in Costa Rica.
Unfortunately, Bellavista was not
a success. After entering production
in December 2005, the troubled
mine was shut down in May 2007
when cracks were found in corners
of the leach pad, which contained
cyanide, and an avalanche of waste
slid down a hill. Knoll recounts that
period of his career as “stressful,”
although he had left Glencairn at
that point. (Litigation on the waste
spill continues.)
Ironically, it was also Glencairn
that ended up acquiring a nickel
mine in Lynn Lake, Man., formerly
owned by Sherritt Gordon, where
Knoll had worked doing odd jobs
one summer as a 20-year-old.
One of his memories from that
summer was playing baseball for one
of the teams at the mine. “The playing field was on one of the original
tailings deposits, and you couldn’t
get the muck out of your clothing
at the laundry,” he recalls. “I looked
around one day thinking, ‘I can’t
believe they are allowed to make
such a mess.’ Then 30 years later my
company Glencairn owned it and
was expected to clean it up, which
we helped to do.”
The summer job at the nickel mine
was just one of 55 jobs Knoll held
before joining The Northern Miner
in 1981 at the age of 26.
The first was a paper route in
Edmonton. (He was 10 years old,
and perhaps one of the youngest in
Albertan history to develop frostbite
delivering newspapers at 42 degrees below zero.) Subsequent jobs
“THE STARS AND
THE MOON WERE
ALIGNED WITH
BLUE PEARL.”
IAN MCDONALD
BUSINESS PARTNER AND
CO-FOUNDER, BLUE PEARL
(often as many as three at a time)
included flipping burgers, pumping
gas, packing groceries, delivering
pizza, paving roads, driving a food
truck to construction sites, cleaning
industrial waste out of steel drums,
guiding fish tours north of the Arctic
Circle, driving a backhoe at a National Park, and painting houses in
the Northwest Territories.
But The Northern Miner, he says,
was “the best job I ever had,” and still
jokes that after leaving the newspaper, it took him six years before he
managed to get his income back up
to the $36,000 a year he made as a
salaried reporter.
Among the most exciting stories
he covered for the newspaper was
the Hemlo discovery. After interviewing David Bell, the geologist
credited with finding the deposit,
Knoll called McDonald (a stockbroker at the time whom he had
met by chance in an elevator while
covering an event for the newspaper)
and bought 200 shares on his credit
card at $1 apiece.
By the time he got back to the
office, the price had doubled. McDonald advised him to sell it and
take the profit, which he did. Shortly
afterward, the stock jumped to $32
per share. “I thought, ‘Well, I won’t
be keeping him as a client anymore,’”
McDonald says.
Looking back, Knoll and McDonald are the first to admit that not
every company they have created
or been involved with has done well.
In 2006, Knoll and McDonald
founded Stonegate Agricom, which
has invested $42 million developing
See KERRY KNOLL / 11
2016-05-31 7:12 PM
GLOBAL MINING NEWS
THE NORTHERN MINER / JUNE 6–12, 2016
3
Mines Management’s Montanore silver-copper project, 37 km south of the town of Libby in northwestern Montana. MINES MANAGEMENT
Hecla bids for Mines Management
and its Montanore deposit
SILVER-COPPER BY MATTHEW KEEVIL
[email protected]
VANCOUVER
H
ecla Mining (NYSE: HL)
is hoping to fortify its silver development portfolio in the U.S. Northwest with a
US$37-million, all-share acquisition
of Mines Management (TSX: MGT;
NYSE-MKT: MGN) and its large
Montanore silver-copper deposit
in northwestern Montana.
The friendly deal would see Mines
Management shareholders receive
0.2218 of a share of Hecla, or a 41%
premium based on the companies’
10-day, volume-weighted average
trading prices at the time of signing.
Montanore is one of the largest
undeveloped silver and copper
deposits in North America. The
project lies 16 km from Hecla’s
Rock Creek silver project and 80 km
north of its prolific Lucky Friday
silver-lead-zinc operation in Idaho.
The U.S. Forest Service and the
Montana Department of Environmental Quality conditionally approved an operation at Montanore
of up to 18,143 tonnes per day under
an environmental impact statement
(EIS) tabled in December.
“This opportunity emerged for
us and we think it makes good
business sense to control both Rock
Creek and Montanore, and advance
the two projects under common
ownership,” Hecla’s vice-president
of external affairs Luke Russell said
during an interview.
“We’ll definitely explore potential
project synergies after this transaction closes early in the third quarter. We’ll take a hard look at our
strategy, but we see these as two
independent projects. That being
said, we can provide consistency
in technical approach, agency and
permitting, and in the community,”
he added.
The stratabound, sedimenthosted deposit has measured and
indicated resources of 166.3 million oz. silver and 1.2 billion lb.
1 2 3 4 5 11 13 14 16_Jun6_Main .indd 3
| Purchase would complement nearby Rock Creek, Lucky Friday silver assets
“THESE ARE
TWO LONG-LIFE
ASSETS THAT FIT
OUR PROFILE.
WE’RE LOOKING
AT OUR NEXT 100
YEARS, AND SEE
THESE AS TWO
GREAT POTENTIAL
ASSETS.”
LUKE RUSSELL
VICE-PRESIDENT OF EXTERNAL
AFFAIRS, HECLA MINING
copper, within 73.9 million tonnes
of 63.5 grams silver per tonne and
0.8% copper, using a 31.1-gram
silver cut-off. Inferred resources
include 65.1 million oz. silver and
497.5 million lb. copper, within
31.8 million tonnes of 57.5 grams
silver and 0.7% copper.
Mines Management has steadily
advanced project engineering since
Montanore’s discovery in 1983,
by completing 70,000 metres of
diamond drilling, excavating a
4,300-metre evaluation adit and
filing a preliminary economic assessment in 2011.
The study models a US$552-million underground mine that would
crank out 6.4 million oz. silver and
51 million lb. copper over a 15-year
mine life. Based on US$15 per oz.
silver and US$2.50 per lb. copper,
the mine would feature a US$229million pre-tax net present value at
a 5% discount rate and an 11.5%
internal rate of return.
“Part of the evaluation at Montanore is completing the additional
drift necessary to get down into the
orebody,” Russell said.
After more metallurgical and
geotechnical testing, Hecla will
update the mine plan and feasibility
study, he said.
Down the road, Hecla acquired
Rock Creek in early 2015 for US$20
million by buying junior Revett
Mining.
Hecla wrapped up the public
comment period on its draft EIS at
Rock Creek during the first quarter,
and hopes the U.S. Forest Service
will issue the final supplemental
EIS and draft record of decision
within the next year.
Rock Creek has had a few social
licence issues, namely court challenges from regional environmental
groups concerned the mine could
harm the local water supply, and
fish and bear populations.
“We have really good relationships
with the agencies and communities
in and around Rock Creek. Montanore is a similar situation for us,
so having the two projects together
under one owner provides oppor-
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tunity for consistency that could
help streamline the permit process
moving forward,” Russell said.
“These are two long-life assets
that fit our profile. We’re looking
at Hecla’s next 100 years, and see
these as two great potential assets.”
Rock Creek has inferred resources
of 229 million oz. silver and 2 billion lb. copper, within 124.3 million
tonnes of 51.9 grams silver and
0.7% copper.
Hecla estimates an underground
room-and-pillar mine at Rock Creek
could produce 6 million oz. silver
and 50 million lb. copper annually
over a 35-year mine life.
But next up for Hecla at Rock
Creek is an evaluation phase that
would involve digging a 1,900-metre decline to access the orebody,
which could take up to 36 months
to complete.
Hecla shares have traded in a 52week range of US$1.45 to US$4.73,
and closed at US$3.93 per share at
press time. The company has 384
million shares outstanding for a
$1.5-billion market capitalization.
Mines Management shares have
traded in a range of US11¢ to US91¢
over the past year, and last closed
at US87¢ per share. The company
has 31.6 million shares outstanding for a US$27-million market
capitalization. TNM
Public Auction
Silver Concentrate
Prince Rupert, British Columbia
Under the Warehouse Lien Act of the Province of British Columbia,
Quickload CEF Inc., doing business as Quickload Logistics, claims a
lien against 105 Super Sacks, each with a capacity of 1.5 metric tons,
containing silver concentrate (the “Goods”), located at Quickload’s
warehouse at #1 Regina Road, Prince Rupert, British Columbia, owned
by CMC Metals Ltd. and deposited at Quickload’s warehouse by Can-Ship
Overseas Inc. between November 27 and 29, 2012. This lien is claimed in
respect of arrears of storage fees and other charges in relation to the Goods. The Goods will be sold at an online public auction, to be held from
June 20, 2016 at 8:30 AM PST to July 20, 2016 at 1 PM PST.
The auction is open to qualified bidders only. In order to qualify, prospective
bidders must send a short description of their organization and contact
information to [email protected]. Applications to
qualify will be accepted until 5 PM PST on Friday, June 17, 2016.
Qualified bidders will receive a tender package including an assay of the
Goods, but bidders are encouraged to satisfy themselves of the quality of
the Goods. Site visits and opportunity to sample the Goods will be made
available to qualified bidders upon request. Quickload does not offer any
warranty regarding the quality of the Goods.
The contact information for submission of bids will be included in the
tender package sent to qualified bidders. No bids will be accepted after
1 PM PST on Wednesday, July 20, 2016. The auction results will be
announced on Thursday, July 21, 2016 at 3 PM PST.
Quickload reserves the right to reject any bid.
RIGHT SOLUTIONS RIGHT PARTNER
2016-05-31 7:13 PM
4
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1 2 3 4 5 11 13 14 16_Jun6_Main .indd 4
E D I T O R IA L
O P- E D
Northern Andean
economies groan as
oil revenues dry up
GOLD | Stunted minerals sector
can’t make up the difference
T
here’s nothing quite like a fall in oil
prices to expose the cracks in the
economies and politics of countries
highly dependent on oil exports. And such
is the case with South America’s largest
oil exporters — Venezuela, Colombia and
Ecuador — all three of which have suffered
BY JOHN CUMMING
through three years of recession, and have
[email protected]
chronically underperforming mining
sectors that can’t pick up much of the slack.
Venezuela has taken a particular turn for the worse in recent
weeks. There are shortages of just about every basic necessity, from
toiletries and food staples to medicines and electricity — despite
the deeply unpopular Venezuelan President Nicolas Maduro asking
women in the country to stop using hairdryers to save electricity, as
droughts hamper hydroelectric power generation.
Most companies still active in country have halted or curtailed
production, with even Coca-Cola having stopped producing its iconic
drink owing to sugar shortages caused in part by the government’s
inability to pay for fertilizer imports.
As a symptom of the lousy business environment Venezuela offers
these days, two of the world’s top airlines — Latam Airlines (Latin
America’s biggest carrier) and Germany’s Lufthansa — are cancelling
or indefinitely suspending flights to the country. Two months ago,
American Airlines (the top North American airline serving Latin
America) scrapped its New York–Caracas route only three months
after reinstating it.
And it’s not just because of the dwindling volume of passengers.
Reuters reports that Lufthansa has had difficulty repatriating profits
from Venezuela due to onerous currency-exchange controls, and is
owed at least US$100 million by the Venezuelan government, and
that the International Air Transport Association has been lobbying
the Venezuelan government to free all trapped airline revenue, which
likely amounts to billions of U.S. dollars.
Even with the recent rise in oil prices back to the US$50-per-barrel
range, the International Monetary Fund (IMF) estimates Venezuela’s
economy will contract by 8% in 2016, after having already contracted
5.7% in 2015, with an inflation rate expected to surge to almost 500%
this year.
Despite its enormous mineral endowment — especially gold in
the southeast — the Venezuelan government decisively turned its
back on foreign miners’ investment in 2008, when president Hugo
Chavez, who died in 2013, started talking about nationalizing
gold and cement assets in the country, and strengthened ties with
China, Iran and Russia. Top miners such as Hecla Mining and
Gold Fields quietly packed up and left the country for good, and
potential gold mega-projects such as Las Cristinas and Brisas
have f loundered due to domestic politics, more than the projects’
technical deficiencies.
With its more mixed and free-market economy, Colombia is
faring better. The IMF sees the country’s growth easing to 2.5% in
2016 from 3.1% in 2015 due to low oil prices, as well as tightening
macroeconomic policies and financial conditions.
Colombia’s export numbers from the minerals sector has
benefitted from years of output from large coal and nickel mines,
complemented by smaller-scale gold and emerald output, even if new
gold-mine development in the country is hampered by bureaucratic,
political, security and social-licence issues.
The IMF describes Ecuador’s outlook as “highly uncertain,” and
says it depends on the availability of external financing. Under the
IMF’s baseline scenario, Ecuador’s economy is expected to contract
this year by 4.5%, due to “lower oil prices, a loss of competitiveness
on the back of an appreciating dollar, fiscal consolidation and tight
financing conditions.”
Ecuador is not a traditional mining nation and has had chaotic
experiences in decades past with artisanal miners, such as at Nambija
in the south.
But nonetheless the Ecuadorian government has renewed efforts
over the past couple of years to woo foreign miners back to the
country — with real progress seen such as the restart of development
of the spectacular Fruta del Norte gold deposit, now under the
direction of Lundin Gold. TNM
DEPARTMENTS
Careers. . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Editorial. . . . . . . . . . . . . . . . . . . . . . . . . . . . 4
Metal Prices. . . . . . . . . . . . . . . . . . . . . . . . . 7
Mining Jobs. . . . . . . . . . . . . . . . . . . . . . . . 15
Professional Directory. . . . . . . . . . . . . . . 12
Stock Tables. . . . . . . . . . . . . . . . . . . . . . 6-10
COMPANY INDEX
B2Gold. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Capstone Mining. . . . . . . . . . . . . . . . . . . . . . 13
Centerra Gold. . . . . . . . . . . . . . . . . . . . . . . . . . 5
Darnley Bay Resources. . . . . . . . . . . . . . . . . . 1
Endeavour Silver. . . . . . . . . . . . . . . . . . . . . . 13
Focus Ventures. . . . . . . . . . . . . . . . . . . . . . . . 16
Goldcorp. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1
Golden Predator Mining . . . . . . . . . . . . . . . . 1
Hecla Mining. . . . . . . . . . . . . . . . . . . . . . . . . . 3
McEwen Mining . . . . . . . . . . . . . . . . . . . . . . 11
Mines Management. . . . . . . . . . . . . . . . . . . . . 3
Penoles. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
Stonegate Agricom . . . . . . . . . . . . . . . . . . . . . 1
Thompson Creek Metals . . . . . . . . . . . . . . . . 1
Trevali Mining. . . . . . . . . . . . . . . . . . . . . . . . 14
Uranium One. . . . . . . . . . . . . . . . . . . . . . . . . 11
The Northern Lights above a tower on the Northwest Transmission Line in B.C., in
a still from the documentary KONELĪNE: Our land beautiful. CANADA WIDE PRODUCTIONS
Film finds drama in
BC's Golden Triangle
REVIEW | Award-winning documentary captures
the complexity of life in northwest BC
BY DAVID PERRI
[email protected]
N
orthwest B.C. is a land of
abundance and beauty.
Teeming with wildlife,
the mountains, rivers and valleys
are also home to the Tahltan First
Nation. Riches below the surface
have inspired miners to call the
region the “Golden Triangle.”
This landscape is the focus
for Nettie Wild’s documentary
KONELĪNE: Our land beautiful.
The film-maker points a lens at the
people who live and pass through
this remarkable land, capturing the intersection of natural
beauty, development and a native
homeland.
tailings spill in mid-2014.
Lacking overt narration or a
heavy-handed agenda, the film,
which was shot over a full year,
delivers some truly fascinating
scenes.
The camera follows a pair of
Tahltan hunters in the autumn
as they stalk, shoot and butcher
a moose. Another segment sees
a guide outfitter ferry 17 horses,
one by one, across the f lowing
Stikine River.
The region’s natural beauty is in
full view, with breathtaking wide
shots, but Wild also finds beauty
in unexpected places, artfully
capturing diamond drillers pulling up core at Pretium Resources’
Brucejack gold project.
“THERE ARE JUST
SO MANY FILMS
OUT THERE WITH
PEOPLE TELLING
OTHER PEOPLE
WHAT TO THINK.”
NETTIE WILD
DIRECTOR, WRITER, CO-PRODUCER,
KONELĪNE: OUR LAND BEAUTIFUL
Konelīne (pronounced koe-nelee-neh) is a Tahltan world that
means “our land beautiful.” Wild
says the one thing everyone in the
region shares — from Tahltan
elders to prospectors — is a love
of the land.
Mineral development in the area
can quickly turn controversial, as
locals, developers, government
and non-governmental organizations enter the mix. Wild captures
these tensions over development
while trying to stay above the
fray by focusing on the people in
the region.
“There are just so many films
out there with people telling other
people what to think,” Wild said in
a phone interview from her home
in Vancouver. “This film is not in
my voice.”
Viewers meet Tahltan members who are employed by the
development industry, as well
as those opposed to and unsure
about it. The film also documents
the Tahltan blockade at Imperial
Metals’ Red Chris project (now
a mine), as fears spiked in the
aftermath of the Mount Polley
In one of the film’s most gripping scenes, a helicopter delivers
a power transmission tower to a
crew that struggles to secure it to
the ground. Shot in slow motion
as the helicopter hovers overhead,
Wild calls it an “extraordinary
choreographed dance, with linemen, the biggest helicopter in the
world and a 16,000 lb. tower.”
She hopes the documentary will
challenge stereotypes and stop
people on all sides from “writing
off” those with differing opinions
about development, environmentalism and aboriginal issues.
“My role as a film-maker was to
go up there and listen really hard
to the people in the North. And
then, as best as I could, ref lect
the poetry of their lives and their
voices.”
Wild inherited a love of the bush
from her grandfather, a doctor
who caught the mining bug and
came to own a tungsten mine near
Revelstoke. “The only thing he
loved more than fishing and being
in the bush was chasing anything
that glittered in rock,” she said. The
mine never amounted to much,
2016-05-31 7:13 PM
GLOBAL MINING NEWS
5
Centerra appeals
Kumtor fines
KYRGYZSTAN | Gold miner faces
more than US$320M in fines
BY SALMA TARIKH
C
[email protected]
enterra Gold’s (TSX: CG)
subsidiary has been fined
US$98 million for environmental damages at the Kumtor gold
mine, and faces another US$225
million in environmental fines, all
of which the firm intends to appeal.
On May 25, the Bishkek interdistrict court in Kyrgyzstan ruled
that the Kumtor Operating Company (KOC) would have to pay a
US$98.4-million environmental
fine for Kumtor’s waste rock. The
ruling follows a claim that the state
inspectorate office for environmental
and technical safety (SIETS) — filed
along with others in 2012 — alleging
that the company should pay tariffs
for placing waste rock on Kumtor’s
waste dumps. The tariffs normally
apply to industrial or domestic waste.
“The agency is interpreting that
the waste rock should have a fee …
but you see our 2009 [investment]
agreements outline a complete set
of taxes, fees and other charges applicable to the Kumtor project. So we
have been arguing that the waste rock
is covered under our mine plan and
shouldn’t be subjected to this tariff,”
the firm’s vice-president of investor
relations John Pearson explains.
“We are obviously appealing that.”
Centerra is also appealing a May
24 inter-district court ruling against
its subsidiary in another SIETS
claim alleging unrecorded wastes
from Kumtor’s effluent and sewage treatment plants, amounting
to US$10,000 in damages.
The company intends to appeal
both decisions to the Bishkek city
court, and if required, to Kyrgyzstan’s Supreme Court. On May 30,
it delivered a notice of arbitration
to the government regarding other
ongoing disputes at Kumtor.
The inter-district court is set to
hear two more SIETS claims that
charge KOC has caused land damage and failed to pay for water use.
The two claims total US$5 million.
In addition, KOC faces a US$220million claim made by the state
agency for environment and forestry
protection (SAEPF) for alleged en-
vironmental pollution, which was
filed in 2013.
Court hearints on the SIETS and
SAEPF claims have been postponed
to May 31 and June 3.
Pearson says Centerra has dealt
with the two environmental agencies
in court for some time.
“As we stated before, we dispute
the allegations in their claims and
consider the claims to be without
merit. So they will be automatically
appealed.”
Meanwhile, Centerra is working
with the government to resolve other
matters surrounding its sole producing mine, including a criminal case
by the general prosecutor’s office
(GPO) and outstanding approvals
for its annual mine plan.
The GPO alleges the company’s
Kumtor Gold Co. subsidiary made
a financial violation by paying a
US$200-million, inter-corporate
dividend to Centerra in 2013.
In late April, the GOP and other
officers raided Kumtor Gold’s Bishkek offices to collect documents
related to the dispute.
“There was nothing illegal done,”
Pearson says. “It was an inter-corporate dividend. It’s done all the
time. It was done within Kyrgyz law,
business law and within corporate
governance rules.”
In a separate matter, Centerra
cautions that if it does not receive
the outstanding permits and approvals for its 2016 mine plan by
the end of June, it will have to shut
down operations on July 1.
Historically the annual permits
have been “somewhat delayed,” but
Centerra has “always received them,”
Pearson says.
BMO analyst Andrew Breichmanas notes that Kumtor has operated
since 1997, producing more than 10
million oz. gold and paying over
US$1 billion to the country’s budget
and social fund.
“Given the importance of the
mine to the country’s economy …
sustaining operations would appear
to be a priority,” he writes.
Despite the outstanding matters,
Kumtor is on track to meet its 2016
production guidance of 480,000 to
530,000 oz. gold, Pearson says. TNM
Scenes from the documentary KONELĪNE: Our land beautiful, from top: hunters skin a moose; a guide outfitter swims a horse
across the Stikine River; a Tahltan man runs his dogs across the land (left); Tahltan members play a stick gambling game; and
linemen struggle to secure a transmission tower to the ground. CANADA WIDE PRODUCTIONS
but “as a kid growing up, I had this
mythology of what we referred to
as ‘the family mine.’
Getting access to film the various
regional actors was a challenge,
Wild says. Resistance initially came
from all sides and threatened to
kill the project.
It was Hy-Tech Drilling founder
and chairman Harvey Tremblay
who first granted filming access,
which snowballed into a wider acceptance from people in the region.
Tremblay admits he was taken
aback when he had to sign a document granting full access and independence for the film-maker.
But he said doing so helped ensure the film accurately showed
what his drillers do. “We do good
1 2 3 4 5 11 13 14 16_Jun6_Main .indd 5
work and I feel good about the
way we do our work,” he said in
an interview.
“If nobody participates, they’ll
make up our part,” he said. “We’re
going to be a player in [the film]
whether we participate or not.”
Tremblay said the industry
should be more transparent about
what it does and why, and that
informing people about the mining industry will help the public
understand its importance. “We
should be proud in the mining industry of what we do. We shouldn’t
hide what we do — that does us a
disfavour.”
Tremblay watched the documentary at its opening in Whitehorse
and is pleased with the finished
product. He praises Wild for her
“balanced hand,” which he believes
will promote conversation between
concerned groups. “It’s a beautiful
film. She did a great job of bringing real poetry to the land. It’s an
absolutely stunning, visual movie.”
Tremblay isn’t the only one who
was impressed. In May, KONELĪNE
won the Best Canadian Feature
Documentary Award in May at the
Hot Docs 2016 Festival in Toronto.
The film will play in Toronto
from June 10 to 16, and in major
cities and mining towns across
Canada this year.
To view the trailer, show times
and more information, please visit
www.canadawildproductions.com/
film/koneline. TNM
2016-05-31 7:13 PM
6
M A R K E T N EWS
TORONTO STOCK EXCHANGE / MAY 23–27
The Bank of Canada kept its target for the
overnight lending rate at 0.5% and estimated
that the wildfires in Alberta would knock
1.25 percentage points from real gross domestic product in the three months ended
June 30. Canada’s benchmark stock exchange
advanced 1.3% to finish at 14,105.23, while
the S&P/TSX Capped Diversified Metals &
Mining Index climbed 0.95% to 511.74. Spot
gold fell 3.1% to US$1,212.80 per oz., and
the S&P/TSX Global Gold Index dropped
7.96% to 204.37.
Suncor Energy announced that there
had been no damage to its assets from the
Alberta blaze and that it had remobilized its
employees to support the staged restart of
its operations in the Regional Municipality
of Wood Buffalo. Suncor also said it was
ramping up construction at its Fort Hills
mine. Suncor’s shares jumped $1.40 to $35.90.
Shares of Globex Mining Enterprises
climbed 39% to 45¢ after announcing it had
optioned two of its Quebec lithium projects
(Chubb and Bouvier) to Great Thunder Gold
Corporation. Great Thunder will pay Globex
$60,000 over six months and deliver 2.4 million shares. Globex receives a 2% gross metal
royalty on all production from the properties
and an underlying 1% net smelter return
royalty. Separately, Globex also acquired 11
new lithium exploration projects.
A bid for Mines Management by U.S.listed silver miner Hecla Mining sent Mines
Management up 35% to $1.12 per share.
Under the deal, each outstanding share of
Mines Management will be exchanged for
0.2218 of a Hecla share. The offer is a 41%
premium using both companies’ 10-day,
volume-weighted average price on May 20.
Mines Management’s Montanore silvercopper project in Montana is 80 km from
Hecla’s Lucky Friday mine in Idaho and 16
km from its Rock Creek project.
Cameco’s shares rose 34¢ to $15.26. Cameco and Kazatomprom — Kazakhstan’s
state-owned importer and exporter of uranium and nuclear fuel for power plants
— signed an agreement to restructure and
enhance their joint-venture Inkai project, an
TSX MOST ACTIVE ISSUES
Kinross Gold
B2Gold
Yamana Gold
First Quantum
Barrick Gold
Teck Res
Eldorado Gold
Lithium Amer
IAMGOLD
Suncor Energy
VOLUMEWEEK
(000s) HIGH LOW CLOSECHANGE
K
BTO
YRI
FM
ABX
TCK.B
ELD
LAC
IMG
SU
45296 6.57 5.50 5.52 - 0.98
31539 2.69 2.28 2.31 -0.33
31524 6.35 5.35 5.44 - 0.78
30639 9.04 8.18 8.92 + 0.30
25642 24.17 21.30 21.67 - 2.20
21908 13.30 12.08 12.43 - 0.50
20040 6.07 5.41 5.50 - 0.39
18096 0.91 0.76 0.85 - 0.03
16546 4.91 4.14 4.14 -0.59
15552 36.00 34.32 35.90 + 1.40
in situ recovery uranium mine in southern
Kazakhstan. Cameco owns 60% of the JV
and Kazatomprom owns the rest. Under the
agreement, the JV could ramp up production
to 10.4 million lb. uranium oxide (U3O8) per
year, which is up from 5.2 million lb. U3O8.
Subject to adjustments, Cameco’s ownership
would change to 40% and Kazatomprom’s
to 60%. The partners will also complete
a feasibility study on building a uranium
refinery in Kazakhstan capable of producing 6,000 tonnes of uranium per year, as
uranium trioxide. Kazatomprom will also
have the option to obtain UF6 conversion
services at Cameco’s Port Hope facility for 10
years. Depending on Cameco’s commercial
support, Cameco’s interest in JV Inkai may
be increased to 44% and its ownership stake
in the refinery would also be adjusted from
28.3% to 29.3%. TNM
TSX GREATEST PERCENTAGE CHANGE
Namibia Rare E
Globex Mng
Mines Manage
Prophecy Coal
AZ Mining
Verde Potash
Redhawk Res
Yorbeau Res
Formation Mtls
Gabriel Res
Mawson West
Erdene Res Dev
Silvercorp Met
Atlatsa Res
Coro Mining
Timmins Gold
Stonegate Agri
New Milln Iron
Vista Gold
Argonaut Gold
NRE
GMX
MGT
PCY
AZ
NPK
RDK
YRB.A
FCO
GBU
MWE
ERD
SVM
ATL
COP
TMM
ST
NML
VGZ
AR
126
1040
54
292
2507
108
22
1189
650
810
658
2239
3828
66
3337
10883
651
1586
298
6719
0.12
0.45
1.23
0.02
1.68
0.37
0.04
0.09
0.38
0.24
0.01
0.47
2.88
0.10
0.13
0.42
0.03
0.08
1.10
3.21
0.08
0.31
0.77
0.02
1.21
0.30
0.04
0.08
0.33
0.21
0.01
0.31
2.20
0.07
0.09
0.30
0.02
0.06
0.85
2.56
0.12
0.45
1.12
0.02
1.57
0.37
0.04
0.09
0.37
0.24
0.01
0.33
2.23
0.07
0.09
0.32
0.02
0.06
0.85
2.60
+
+
+
+
+
+
+
+
+
+
-
-
-
-
-
-
-
-
-
-
TSX GREATEST VALUE CHANGE
VOLUMEWEEK
Agrium
Suncor Energy
TMAC Resources
Orocobre
Cameco Corp
AZ Mining
First Quantum
Mines Manage
Lundin Mng
Lucara Diam
Franco-Nevada
Detour Gold
Agnico Eagle
MAG Silver
Barrick Gold
Seabridge Gld
Osisko Gold
First Majestic
Endeavour Mng
Pan Am Silver
60.0
39.1
34.9
33.3
24.6
15.6
14.3
12.5
12.1
11.6
50.0
28.3
22.6
22.2
21.7
21.0
20.0
20.0
19.0
19.0
VOLUMEWEEK
(000s) CLOSECHANGE
AGU
SU
TMR
ORL
CCO
AZ
FM
MGT
LUN
LUC
FNV
DGC
AEM
MAG
ABX
SEA
OR
FR
EDV
PAA
1355118.88
15552 35.90
188 13.90
468 4.15
3910 15.26
2507 1.57
30639 8.92
54 1.12
12330 4.40
3747 4.03
3137 81.80
5193 25.15
4749 57.72
1665 15.58
25642 21.67
622 15.67
2272 14.87
8754 13.49
2813 16.84
3255 17.83
+ 3.59
+ 1.40
+ 0.63
+0.37
+ 0.34
+ 0.31
+ 0.30
+ 0.29
+ 0.26
+ 0.24
-4.20
- 3.01
- 2.72
- 2.36
- 2.20
- 1.68
- 1.57
- 1.55
- 1.54
- 1.44
TSX VENTURE EXCHANGE / MAY 23–27
The S&P/TSX Venture Composite Index fell
2.6%, or 17.6 points, to a 668.54-point close
over the trading period.
Spot gold hit a three-month low, falling
3.2%, or US$39.60, to US$1,212.38 per oz.
gold, while stronger oil prices boosted threemonth London Metal Exchange copper contracts, rising US$78 per tonne, or 1.7%, to a
US$4,700-per-tonne close.
American Lithium led the value-added
category, gaining 24¢ to a $1.27-per-share
close, after an all-share deal to acquire a
privately held company and its Colorado
and San Emidio lithium brine joint-venture
projects in Nevada. The B.C.-based explorer
will acquire the private company in exchange
for 6 million shares.
The Colorado project increases American
Lithium’s land position to a contiguous 74.9
sq. km in Esmeralda County’s Fish Lake
Valley, whereas the San Emidio project, 100
km northeast of Reno, brings the company’s
total land holdings in Nevada to 84.1 sq. km.
Previous explorers on the San Emidio
target defined a lithium-in-brine anomaly
1 km wide and more than 5 km long, with
concentrations ranging from trace up to 23.7
milligrams of lithium per litre at 24 to 39
metres deep from sample wells.
Alset Energy saw 27.8 million shares traded
before closing up 23¢ to 36¢-per-share on
news of initial sampling results at its Wisa
Lake spodumene lithium project, 80 km east
of Fort Frances, Ont.
The company reported grab samples of 1.4%
and 0.95% lithium oxide from the project’s
North zone. Samples collected 900 metres
south and parallel to the North zone returned
1.75%, 1.47% and 1.45% lithium oxide. The
property hosts a historic resource of 330,000
tonnes grading 1.15% lithium oxide.
Alset also identified multiple conductive
zones associated with flake graphite on its
newly acquired Champion graphite project,
north of Kenora, Ont. Several 1-metre-deep
holes dug over 1.3 km on the property graded
1.7% to 9% carbon.
Shares of Great Thunder Gold jumped
TSX-V MOST ACTIVE ISSUES
Alset Energy
Nemaska Lith
Great Thunder
Ashburton Vent
Standard Toll
Critical Elem
Graphite One
Spearmint Res
Benton Res
Integra Gold
VOLUMEWEEK
ION
NMX
GTG
ABR
TON
CRE
GPH
SRJ
BEX
ICG
27844
17489
12962
12300
11858
11766
10906
10004
8831
6920
0.52
1.97
0.24
0.07
0.02
0.70
0.18
0.04
0.10
0.71
0.12
1.48
0.06
0.05
0.01
0.44
0.14
0.03
0.06
0.60
0.36
1.75
0.15
0.06
0.01
0.59
0.14
0.04
0.07
0.63
+
+
+
+
+
+
-
-
+
-
0.23
0.14
0.09
0.01
0.01
0.01
0.03
0.01
0.01
0.07
6¢, or 150%, to a 15¢-per-share close after
announcing intentions to option the Chubb
and Bouvier spodumene lithium properties
near Val-d’Or, Que.
Great Thunder must pay $60,000 to a vendor
over the next six months to exercise the option, along with 2.4 million shares and a 2%
gross metal royalty. The company will also
grant a finder’s fee equal to 7% of the option’s
number of issuable shares.
Nemaska Lithium closed up 14¢ to
$1.75-per-share after receiving the first $5-million tranche from Ressources Québec — a
subsidiary of provincial government-owned
Investissement Québec.
The company will receive the remaining
$5-million balance after meeting construction milestones. TNM
TSX-V GREATEST PERCENTAGE CHANGE
MillenMin Vent
Tolima Gold
Alset Energy
Great Thunder
Astur Gold
Cdn Arrow
Standard Toll
MacDonald Mns
Montero Mg&Ex
Barker Mnrls
Balto Res
Romulus Res
CB Gold
Kings Bay Gold
Stroud Res
Dynasty Gold
Plato Gold
Cerro Mng
Stratabd Mnr
Lakeside Mnrls
MVM
TOM
ION
GTG
AST
CRO
TON
BMK
MON
BML
BAL.H
ROM.H
CBJ
KBG
SDR
DYG
PGC
CRX
SB
LAK
423
4913
27844
12962
2311
608
11858
1169
1695
1754
10
7
193
571
477
227
206
5
434
90
0.02
0.03
0.52
0.24
0.08
0.01
0.02
0.01
0.08
0.02
0.03
0.16
0.15
0.01
0.01
0.02
0.01
0.02
0.02
0.01
0.01
0.01
0.12
0.06
0.02
0.01
0.01
0.00
0.00
0.01
0.01
0.08
0.08
0.01
0.01
0.00
0.01
0.00
0.01
0.01
0.02
0.02
0.36
0.15
0.06
0.01
0.01
0.01
0.04
0.01
0.01
0.08
0.08
0.01
0.01
0.01
0.01
0.02
0.01
0.01
TSX-V GREATEST VALUE CHANGE
VOLUMEWEEK
+300.0
+200.0
+176.9
+150.0
+120.0
+100.0
+100.0
+100.0
+100.0
+100.0
- 60.0
- 53.1
- 50.0
- 50.0
- 50.0
- 50.0
- 50.0
- 50.0
- 50.0
- 50.0
VOLUMEWEEK
(000s) CLOSECHANGE
American Lith
Alset Energy
Regulus Res
Bacanora Mnls
Wealth Mnrls
Abitibi Royalt
Kennady Diam
Nemaska Lith
Gldn Predator
Falco Res
Gold Reserve
Novo Res
Anfield Nickel
Chesapeake Gld
Altair Gold
Mirasol Res
Cordoba Mnls
ATAC Res
Orezone Gold
Avino Silver
LI
ION
REG
BCN
WML
RZZ
KDI
NMX
GPY
FPC
GRZ
NVO
ANF
CKG
AVX
MRZ
CDB
ATC
ORE
ASM
895
27844
1143
368
2609
119
150
17489
769
4066
166
348
1271
179
76
406
469
1230
1624
367
1.27
0.36
0.93
1.86
0.84
6.05
4.25
1.75
0.59
0.93
3.47
0.86
1.36
3.51
0.50
1.62
0.57
0.70
0.85
1.77
+
+
+
+
+
+
+
+
+
+
-
-
-
-
-
-
-
-
-
-
0.24
0.23
0.23
0.23
0.19
0.15
0.15
0.14
0.13
0.12
2.33
0.32
0.20
0.20
0.18
0.17
0.16
0.16
0.15
0.15
U.S. MARKETS / MAY 23–27
U.S. indexes gained ahead of the Memorial
Day weekend, after U.S. Federal Reserve Chair
Janet Yellen hinted at a possible interest rate
hike in the coming months.
The Dow Jones Industrial Average advanced
2.1% to 17,873.22, and the S&P 500 Index rose
2.3% to 2,099.06 — the best performance for
both since March. The Nasdaq Composite
climbed 3.4% to 4,933.50, in its best week
since February. The July contract for crude oil
hit an intraday high of US$50.21 per barrel,
before closing at US$49.33 — a 1.3% weekly
gain. The July contract for Brent crude also
popped above US$50 per barrel to US$49.32.
Pittsburgh-based natural gas producer
Consol Energy rose 12.8%, or US$1.68 per
share, to close at US$14.85, on no new news. In
late April, it reported a first-quarter adjusted
net loss attributable to continuing operations
of US$16 million, or US7¢ per share. This
compares to last year’s adjusted net income of
US$85 million, or US37¢ per share. On April
1, Consol closed the US$420-million sale of
its Buchanan mine and other metallurgical
coal assets to Coronado IV LLC.
Hecla Mining shares slipped US33¢ to
US$3.91 on 43.2 million shares traded, after
6_JUN6_MarketNews.indd 6
announcing a US$37-million, all-share acquisition of Mines Management for its large
Montanore silver-copper deposit in northwest
Montana. Hecla is offering 0.2218 of its share
for each Mines Management share held. The
transaction should close in the third quarter.
Gold companies saw the biggest value
drop, as spot gold fell US$39.10, or 3.1%, to
US$1,212.80 per ounce. Franco Nevada led the
value losers, dropping US$2.71 to US$62.81
per share. Shares in Agnico Eagle Mines and
Newmont Mining retreated US$2.04 and
US$1.77 to finish at US$44.14 and US$31.96,
both on no news.
U.S. MOST ACTIVE ISSUES
VOLUMEWEEK
Freeport McMo*FCX 185596 12.04 10.72 11.14 + 0.06
Vale*
VALE 128890 4.33
3.85 3.98unch 0.00
Alcoa*
AA 92528 9.81 9.13 9.35 +0.24
Barrick Gold* ABX 90169 18.21 16.24 16.62 - 1.58
United States S*X
74252 15.35 13.00 14.38 + 1.02
Kinross Gold* KGC 70499 5.02 4.22 4.23 - 0.74
Yamana Gold* AUY 65232 4.74 4.08 4.17 - 0.55
Goldcorp*
GG 4658917.64 16.0316.60 -0.77
Newmont Mng*NEM 46190 34.30 30.86 31.96 - 1.77
Hecla Mining* HL
43158 4.33 3.83 3.91 - 0.33
Kinross Gold tumbled 14.9% to US$4.23 per
share, after a strike by its unionized employees
at the Tasiast gold mine in Mauritania. Kinross
said it is open to resume negotiations with
union representatives, and does not expect
the strike to affect expansion.
Seabridge Gold gave back US$1.12 per share
to finish at US$12.03, after outlining its 2016
exploration plans at the KSM gold-copper
project in northwestern B.C. The 10,000-metre
drill program could extend Deep Kerr’s block
cave resource 800 metres south. TNM
U.S. GREATEST PERCENTAGE CHANGE
CONSOL Energy*
United States S*
Trecora Res*
Yanzhou Coal*
Suncor Energy*
Vedanta*
Agrium*
NACCO Ind*
Cameco Corp*
Alcoa*
DRDGOLD*
Kinross Gold*
McEwen Mng*
Endeavr Silver*
Gold Fields*
Pretium Res*
Cloud Peak En*
IAMGOLD*
Harmony Gold*
Yamana Gold*
CNX
X
TREC
YZC
SU
VEDL
AGU
NC
CCJ
AA
DRD
KGC
MUX
EXK
GFI
PVG
CLD
IAG
HMY
AUY
VOLUMEWEEK
29807 15.61 12.69 14.85 + 12.8
74252 15.35 13.00 14.38 + 7.6
149 11.38 10.45 11.34 + 6.9
56 5.32 4.92 5.27 + 6.3
20141 27.82 25.98 27.54 + 4.7
6346.22 5.71 6.12+4.3
659192.05 87.86 91.28 + 3.9
150 55.01 51.33 53.42 + 3.2
5933 11.96 11.28 11.71 + 2.8
925289.81 9.13 9.35+2.6
3214 5.35 4.34 4.53 -16.9
70499 5.02 4.22 4.23 - 14.9
11754 2.63 2.15 2.21 - 14.3
9637 3.60 3.03 3.05 - 13.6
33931 4.09 3.45 3.50 - 13.2
6724 7.98 7.01 7.04 - 12.5
3397 1.90 1.64 1.68 - 12.5
34254 3.64 3.16 3.17 -12.4
20656 3.41 2.88 2.92 - 12.0
65232 4.74 4.08 4.17 - 11.7
U.S. GREATEST VALUE CHANGE
MartinMarietta* MLM
Agrium*
AGU
Chevron*
CVX
CONSOL Energy*CNX
NACCO Ind*
NC
Suncor Energy* SU
Black Hills*
BKH
United States S* X
Trecora Res*
TREC
Rio Tinto*
RIO
Franco-Nevada* FNV
Agnico Eagle*
AEM
Newmont Mng* NEM
Barrick Gold*
ABX
Seabridge Gld* SA
First Majestic*
AG
AngloGold Ash* AU
Pretium Res*
PVG
Silver Wheaton* SLW
DRDGOLD*
DRD
VOLUMEWEEK
(000s) CLOSECHANGE
3358191.83
6591 91.28
23192102.02
29807 14.85
150 53.42
20141 27.54
1879 59.81
74252 14.38
149 11.34
19177 28.73
3817 62.81
10494 44.14
46190 31.96
90169 16.62
5307 12.03
25859 10.35
19097 13.38
6724 7.04
24221 18.20
3214 4.53
+ 4.65
+3.41
+ 2.23
+ 1.68
+ 1.67
+ 1.24
+ 1.19
+ 1.02
+ 0.73
+ 0.42
-2.71
- 2.04
- 1.77
- 1.58
- 1.17
- 1.12
- 1.08
- 1.01
- 0.93
-0.92
2016-05-31 7:20 PM
7
M E TA L S , M I N I N G A N D M O N EY M A R K E T S
SPOT PRICES COURTESY OF SCOTIABANK
Tuesday, May 30, 2016
Precious Metals
Gold
Silver
Platinum
Palladium
Base Metals
Nickel
Copper
Lead
Zinc
Price (US$/oz.)
Change
$1210.50-32.15
$16.06-0.21
$993.00-26.00
$543.00-18.00
Price (US$/tonne)
Change
$8445.00+15.00
$4650.50-24.00
$1694.00+1.00
$1924.00+24.00
LME WAREHOUSE LEVELS
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, May 27, 2016 (change from May 20, 2016
in brackets):
Aluminium Alloy
14400(-280)
Aluminium
2534000(-26550)
Copper
153750(-1975)
Lead
185250(+5150)
Nickel
402744(-1812)
Tin
7115(+380)
Zinc
383000(-3750)
TSX SHORT POSITIONS
PRODUCER AND DEALER PRICES
TSX WARRANTS
Thermal Coal CAPP: US$43.63 per short ton
Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W:
US$40.50
Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$9.35
Coal: CME Group Central Appalachian Futures July 2016:
US$44.80 Aug. 2016: US$44.80
Cobalt: US$10.66/lb.
Copper: US$2.14/lb.
Copper: CME Group Futures July 2016: US$2.111/lb.; Aug.
2016: US$2.110/lb
Ferro-Chrome: US$1.77/kg
Ferro Titanium: US$3.50/kg
FerroTungsten: US$23.12/kg
Ferrovanadium: US$14.70/kg
Iridium: NY Dealer Mid-mkt US$520/tr oz.
Iron Ore 62% Fe CFR China-S: US$50.90/tonne
Iron Ore Fines: US$56.46/tonne
Iron Ore Pellets: US$72.89/tonne
Lead: US$0.77/lb.
Magnesium: US$2.03/kg
Manganese: US$2.01/kg
Molybdenum Oxide: US$6.94/lb.
Phosphate Rock: US$115.00/tonne
Potash: US$269.00/tonne
Rhodium: Mid-mkt US$665.00/tr. oz.
Ruthenium: Mid-mkt US$42.00/tr. oz.
Silver: Handy & Harman Base: US$16.29 per oz.; Handy &
Harman Fabricated: US$20.36 per oz.
Tantalite Ore: US$191.35/kg
Tin: US$7.37/lb.
Uranium: U3O8, Trade Tech spot price: US$28.85; The UX
Consulting Company spot price: US$28.50/lb.
Zinc: US$0.86/lb.
Prices current May 31, 2016
Alamos Gold (AGI.WT) - Wt buys sh @ $28.47 to Aug 30/18
Coeur Mining (CDM.WT) - Exercisable on a cashless basis. See
TSX Bulletin 2013-0377 for calculation. To Apr 16/17
Dalradian Resources (DNA.WT.A) - Wt buys sh @ $1.5 to Jul
31/17
Dundee Precious Metals (DPM.WT.A) - Wt buys sh @ $3.25 to
Nov 20/15
Franco Nevada (FNW.WT.A) - Wt buys sh @ $75 to Jun 16/17
Gran Colombia Gold (GCM.WT.A) - Wt buys sh @ $3.25 to Mar
18/19
HudBay Minerals (HBM.WT) - Wt buys sh @ $15 to Jul 20/18
Ivanhoe Mines (IVN.WT) - Wt buys sh @ $1.8 to Dec 10/15
MBAC Fertilizer (MBC.WT) - Wt buys sh @ $1 to Apr 17/19
New Gold A J (NGD.WT.A) - Wt buys sh @ $15 to Jun 28/17
Newmarket Gold (NMI.WT) - Wt buys 4.07 sh @ $9.17 to Mar
24/16
Oban Mining J (OBM.WT) - Wt buys 20 sh @ $3 to Aug 25/18
Osisko Gold Royalties (OR.WT) - Wt buys sh @ $36.5 to Feb
18/22
Quest Rare Minerals (QRM.WT) - Wt buys sh @ $0.4 to Jul
17/17
Royal Nickel (RNX.WT) - Wt buys sh @ $0.8 to Jul 11/16
Sandstorm Gold (SSL.WT.A) - Wt buys sh @ US$5 to Oct 19/15
(SSL.WT.B) - Wt buys sh @ US$14 to Sep 07/17
Vista Gold (VGZ.WT.U) - Wt buys sh @ $5 to Oct 22/15
Short positions outstanding as of May 27, 2016 (with
changes from Apr 18, 2016)
Largest short positions
Gold Std Vents
GSV
19100
-600
CB Gold
CBJ
3000
1000
Largest increase in short position
CBJ
3000
1000
CB Gold
Gold Std Vents
GSV
19100
-600
Largest decrease in short position
GSV
19100
-600
Gold Std Vents
CB Gold
CBJ
3000
1000
DAILY METAL PRICES
Daily Metal Prices
Date
May 30
May 27
May 26
May 25
May 24
BASE METALS(London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne)
Al Alloy
N/A
1530/1560 1530/1560 1530/15601530/1555
Aluminum
N/A
1550/1558 1552.50/1558.504635.50/4615
1552/1561
Copper
N/A
4725/4700 4705/4686 1645/16484636/4609
Lead
N/A 1693.50/1695 1666/1668 8335/83751651/1652
Nickel
N/A
8370/8420 8370/8430 15490/154508335/8385
Tin
N/A
16225/16150 15700/15690
1820/1825.5015765/15700
Zinc
N/A
1902/1898 1882/1878 1665/16951826/1833
PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.)
Gold AM
N/A1221.25 1226.65 1220.75 1242.65
N/A1216.25 1223.85 1220.60 1236.85
Gold PM
Silver
N/A16.30 16.46 16.21 16.27
Platinum N/A 984.00 1003.00 994.001006.00
Palladium N/A546.00 545.00 523.00 544.00
EXCHANGE RATES
May 27
May 26
May 25
May 24
May 23
Date
US$ in C$
1.29791.29791.30201.3123 1.3143
C$ in S$
0.77060.77060.76800.7621 0.7609
Exchange rates (Quote Media, May 27, 2016)
C$ to AUS
C$ to EURO
1.0666
0.6886
C$ to UK Pound
C$ to China Yuan
0.5254
5.0528
US to AUS
US to EURO
1.3839
0.8933
US to UK Pound
US to China Yuan
0.6817
6.5570
C$ to YEN
C$ to Mex Peso
C$ to SA Rand
84.570014.2182
11.9566
C$ to India RupeeC$ to Swiss Franc
C$ to S. Korea Won
51.57300.7623
908.7500
US to YEN
US to Mex Peso
US to SA Rand
109.770018.4571
US to India RupeeUS to Swiss Franc
US to S. Korea Won
66.92650.9893
1179.9000
Financial information provided by Fundata Canada Inc. ©Fundata Canada Inc. All rights reserved
LEGEND
A –Australian Stock Exchange
C –CNSX Canadian National
Stock Exchange
J –Johannesburg Stock
Exchange
L –London Stock Exchange
M –Mexico Stock Exchange
N –New York Stock Exchange
O –U.S. over-the-counter
Q –NASDAQ or U.S. OTC
T –Toronto Stock Exchange
V –TSX Venture Exchange
X –NYSE Alternext U.S.
* –Denotes price in U.S.$
7_JUN6_MMMM.indd 7
STAFF INVESTMENT POLICY
The Northern Miner does not permit any editorial employee to file stories about
companies in which the writer owns shares. Editorial employees are also not
permitted to take part in initial public offerings or to engage in short selling.
CONVERSIONS OF WEIGHTS & MEASURES
1 troy ounce = 31.1 grams
1 kilogram = 32.15 troy ounces
1 kilogram = 2.2046 pounds
1 (metric) tonne = 1,000 kilograms
1 (metric) tonne = 2,204.6 pounds
1 (short) ton = 2,000 pounds
1 (metric) tonne = 1.1023 (short) tons
1 gram per (metric) tonne = 0.02917 troy
ounces per (short) ton
= 0.03215 troy ounces per (metric)
tonne
1 kilometre = 0.6214 miles
1 hectare = 2.47 acres
Atlantic Gold (AGB.WT) - Wt buys sh @ $0.6 to Aug 20/18
Brazil Resources (BRI.WT) - Wt buys sh @ $0.75 to Dec 31/18
Jet Metal (JET.WT) - Wt buys sh @ $0.25 to Sep 16/19
Kilo Goldmines (KGL.WT) - Wt buys sh @ $0.15 to Mar 20/16
Mission Gold (MGL.WT) - Wt buys sh @ $0.17 to Sep 13/17
Monarques Gold (MQR.WT.A) - Wt buys sh @ $0.18 to Dec
15/17
Monarques Gold (MQR.WT) - Wt buys sh @ $0.2 to Dec 14/15
NexGen Energy (NXE.WT) - Wt buys sh @ $0.65 to Mar 26/16
Oceanic Iron Ore (FEO.WT.A) - Wt buys sh @ $0.65 to Nov
30/15
Oceanic Iron Ore (FEO.WT.B) - Wt buys sh @ $1 to Nov 30/15
Sunridge Gold (SGC.WT) - Wt buys sh @ $0.35 to Oct 18/17
West African Resources (WAF.WT) - Wt buys sh @ $0.4 to Jan
17/17
West Kirkland Mining (WKM.WT) - Wt buys sh @ $0.3 to Apr
17/19
NORTH AMERICAN STOCK EXCHANGE INDICES
52-week
IndexName
May 27
May 26
May 25
S&P/TSX Composite
14105.23 14049.20 14053.74
S&P/TSXV Composite
668.54 679.93 677.08
S&P/TSX 60
824.87 821.38 821.33
S&P/TSX Global Gold
204.37 209.40 210.50
S&P/TSX Metals & Mining 511.74 509.29 508.08
TSX VENTURE SHORT POSITIONS
Short positions outstanding as of May 27, 2016 (with
changes from Apr 18, 2016)
Largest short positions
Lundin Mng
LUN
46405998
2031242
Kinross Gold
K
45115997
-1156579
Potash Corp SK
POT
33865225
-91286
First Quantum
FM
27273583
-3969150
B2Gold
BTO25948611 3489468
New Gold
NGD
20924215
28685
Eldorado Gold
ELD
18609395
-79313
Teck Res
TCK.B 15530345
663460
Barrick Gold
ABX
11750478
292564
IAMGOLD
IMG10772065 -460476
Suncor Energy
SU
10695054
-657747
Silver Std Res
SSO
9633458
1563923
Detour Gold
DGC
9329551
-162837
Yamana Gold
YRI
9018038
1552222
Goldcorp
G8663566 71710
Largest increase in short position
Golden Star
GSC
7638100
4399900
Nevsun Res
NSU
3836485
3718090
B2Gold
BTO25948611 3489468
Americas Silvr
USA
3071992
2294992
Asanko Gold
AKG
3371940
2185486
Largest decrease in short position
FM
27273583
-3969150
First Quantum
Semafo
SMF 642420-3509635
K
45115997
-1156579
Kinross Gold
Centerra Gold
CG
3354062
-763810
Suncor Energy
SU
10695054
-657747
TSX VENTURE WARRANTS
May 24
May 23
High
Low
13952.85 13919.5815527.30 12400.15
675.31 686.141050.26 883.52
815.58 812.64896.74 709.99
207.46 222.04218.90 149.29
490.58 506.91954.68 691.69
NEW 52-WEEK HIGHS AND LOWS MAY 23–27, 2016
145 New Highs
TMAC Resource*
Abitibi Royalt
Acme Res Inc
Africo Res
Algold Res
Alphamin Res
Alset Energy
Alset Energy*
Altair Gold
Altiplano Mnls
Alto Vent
American Lith
Anfield Res*
Argus Metals*
Asanko Gold*
AsiaBaseMetals
Astur Gold
Atacama Res*
Athabasca Nclr
Aurvista Gold*
Auryn Res*
AZ Mining
Barker Mnrls
Barsele Min*
Battle Mtn Gld
Battle Mtn Gld*
Benton Res
Berkeley Egy*
Black Mam Mtls
Black Mam Mtls*
Bluestone Res
Bravada Gold
Bravada Gold*
Bravura Vent
Bullfrog Gold*
Cairo Res
Candelaria Mg
Canuc Res*
Castle Mtn Mng
Cda Strtgc Met *
Chilean Metals
Chilean Metals*
Critical Elem
Critical Elem*
Darnley Bay
Darnley Bay*
Eagle Plains
Ecuador Gold
Ecuador Gold*
Emerita Res
Eskay Mng
Europn Uran Rs*
Falco Res
Four River
Gem Intl Res
Gldn Predator
Gldn Predator*
Globex Mng
Globex Mng*
Gold Bulln Dev
Gold Bulln Dev*
Gold Ridge Exp
Gold Std Vents
Gold Std Vents*
Goldbank Mng
Golden Harp
Golden Valley
Goldsource Min
Goldsource Min*
GoldTrain Res
Granite Ck Gld
Great Thunder
Green Swan Cap
Iconic Mnls
IMX Res*
Kincora Copper
Klondike Gold
Klondike Gold*
Lancaster Cap
Lucara Diam
Magellan Gold*
Majescor Res
Majescor Res*
Manitou Gold
MartinMarietta*
Mason Graphite
Mason Graphite*
MDN Inc
Mexus Gold*
MillenMin Vent
Mines Manage
Mines Manage*
Monarques Res
Monarques Res*
Monster Mng
Montero Mg&Ex
Mountain Prov
Mountain Prov*
Mundoro Cap*
Nemaska Lith
Nemaska Lith*
New Dimen Res
New Dimen Res*
Northisle C&G
Nouveau Monde
Nrthn Shield
Nrthn Vertex
NV Gold
NV Gold*
Orezone Gold*
Oriental Non F
Orocobre
Oroplata Res*
Palamina Corp*
Pancontinental*
Pedro Res
Precipitate Gl
Prism Res
Pure Gold Mg*
Rainforest Res*
Regulus Res
Reva Res
Rio Novo Gold*
Romios Gold Rs*
Rusoro Mng
Rusoro Mng*
Savary Gold*
Scientific Mts
Signature Res
Strikepoint Gd*
Telferscot Res
Telson Res *
Tembo Gold*
Tiller Res
TMAC Resources
Tolima Gold
Valterra Res*
Vantex Res
Viscount Mng
Wealth Mnrls
Wealth Mnrls*
Wildcat Expl*
Wolverine Mnls
X-Terra Res
Zephyr Mnls
14 New Lows
Castle Res*
Central Rand*
Comstock Mtls *
Duran Vent *
Hycroft Mg*
Intact Gold
Intact Gold*
Nautilus Mnrls*
Noble Mnl Expl
Portex Mnrls
Royal Nickel*
Silver Mtn Mns*
Spada Gold
XLI Tech Inc*
CANADIAN GOLD MUTUAL FUNDS
Fund
May 27 ($) May 20 ($) Change ($) Change (%) YTDChange (%) MER (%) TotalAssets (M$)
AGF Prec Mtls Fd MF
22.93
24.67
-1.74
-7.05
60.20
2.80
192.66
BMO Prec Mtls Fd A
18.36
19.72
-1.37
-6.92
64.92
2.40
72.79
10.16
11.23
-1.06
-9.46
74.67
0.63
119.06
BMO ZGD
BMO ZJG
7.95
8.99
-1.04
-11.62
78.14
0.60
69.55
11.58
12.48
-0.90
-7.21
54.93
2.62
64.04
CIBC Prec Metal Fd A
Dyn Prec Metls Fd A
6.66
7.18
-0.52
-7.24
69.53
2.66
388.68
Horizons HEP
29.34
-0.98
-3.37
62.89
0.80
IGMacGloPrecMetCl A
8.54
9.23
-0.69
-7.48
76.18
2.75
90.56
iShares XGD
12.77
13.88
-1.10
-7.94
76.60
0.61
744.60
Mac Prec Met Cl A
47.57
51.55
-3.98
-7.72
77.58
2.51
133.58
12.70
13.71
-1.01
-7.37
72.90
2.46
43.37
NB Prec Met Fd Inv
RBC GblPreMetFd A
31.40
33.69
-2.30
-6.81
70.62
2.13
426.25
Sentry Pre Met Fd A
38.83
43.04
-4.21
-9.77
72.84
2.92
249.29
Sprott Gold&PrMinFdA
39.92
-2.14
-5.40
68.27
3.19
249.04
6.26
-0.24
-3.89
87.92
3.23
58.46
Sprott SilverEquCl A
TD PreciousMetals-I
37.46
40.97
-3.51
-8.57
67.34
2.26
160.54
Reprints
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are available. We will provide them
in a PDF format for $350.
Contact: [email protected] or 416-510-6768
2016-05-31 5:35 PM
8
S T O C K TA B L E S
MINING STOCKS listed on
CANADIAN and U.S. EXCHANGES
TRADING: MAY 23–27, 2016
(100s)
Stock
Week
12-month
ExcVolume High Low Last Change HighLow
A
92 ResourcesV2410 0.090.06
0.08+0.010.13
0.03
0.05 0.04 0.04 - 0.01 0.09 0.04
Abacus Mng &Ex V 1644
Abcourt Mines*
O 87 0.070.07
0.07+0.000.09
0.02
Abcourt MinesV 343 0.100.09
0.09+0.010.11
0.03
ABE Res V 20 0.030.00
0.03+0.010.08
0.02
Aberdeen IntlT2101 0.170.15
0.16-0.010.24
0.10
0.12-0.020.16
0.07
Aberdeen Intl*O 50 0.140.12
Abitibi RoyaltV 119 6.235.50
6.05+0.155.95
1.53
0.60-0.060.90
0.05
ABT Holdings*O 5 0.660.60
Acme Res Inc V
116
0.06 0.04 0.06 + 0.01 0.06 0.02
Active GrowthV 96 0.060.04
0.04-0.010.10
0.02
0.06-0.010.07
0.01
Adamera MnlsV 960 0.070.06
Adventure Gold
V1072 0.330.29
0.30-0.010.35
0.06
0.03-0.010.04
0.01
African QueenV1579 0.040.03
0.95+0.020.96
0.30
Africo Res T 202 0.960.93
O 5 0.000.00
0.00+0.000.00
0.00
Aftermath Slvr*
Agave Silver V 109 0.070.06
0.06-0.010.09
0.01
Agnico Eagle T 4749 60.7456.03
57.72 -2.7262.56
27.63
Agnico Eagle* N10494 46.6542.71
44.14 -2.0448.47
21.00
T 1355 120.00114.83
118.88 + 3.59139.99104.70
Agrium
N 6591
92.05 87.86 91.28 + 3.41 109.4679.94
Agrium*
Aguila Amer Gd V
26
0.08 0.07 0.07 - 0.01 0.12 0.03
Alabama Graph*
O 29 0.130.11
0.13-0.010.22
0.08
V 856 0.170.15
0.17+0.010.28
0.11
Alabama Graph
2.94-0.363.57
2.08
Alacer Gold T4334 3.312.93
Alamos Gold T5944 9.277.68
8.12-1.039.73
3.27
11002 6.975.85
6.24-0.807.53
2.27
Alamos Gold*N
Alberta Star* O 3 0.170.16
0.16+0.000.20
0.12
0.07+0.020.08
0.01
Alchemist Mng 3200 0.070.05
Alcoa*
N 92528
9.81 9.13 9.35 + 0.24 12.806.14
0.11-0.010.30
0.07
Alderon Iron T 795 0.120.10
0.08-0.020.24
0.05
Alderon Iron*O 25 0.100.08
Aldever Res V1002 0.130.11
0.11-0.020.32
0.09
0.08-0.010.20
0.08
Aldever Res*O 33 0.090.08
Aldridge MnrlsV 227 0.190.16
0.19+0.030.20
0.12
V 704 0.060.05
0.05-0.010.18
0.04
Alexander Nubi
Alexandria Min*
O 138 0.060.05
0.05-0.010.06
0.01
Alexandria Min
V3446 0.070.06
0.06-0.010.07
0.02
Alexco Res T 938 1.671.35
1.42-0.161.84
0.35
Alexco Res* X2697 1.251.02
1.09-0.131.42
0.22
0.25+0.040.29
0.07
Algold Res V1447 0.290.21
0.16-0.000.24
0.07
Alianza Min* O 24 0.160.15
Alix Res
V3468 0.090.07
0.09+0.020.10
0.04
Alliance Res* D 1204 15.0414.25
14.44 -0.4630.909.95
0.09-0.010.50
0.05
Alloycorp MngV 141 0.100.08
Almaden Mnls*
X1727 1.151.00
1.03-0.051.42
0.48
Almaden MnlsT 137 1.441.31
1.35-0.091.80
0.65
Almadex MinV 222 0.390.35
0.37-0.010.43
0.13
Almadex Min*O 147 0.310.26
0.29-0.010.34
0.01
0.37+0.020.86
0.21
Almonty Ind V 49 0.370.33
0.02 0.01 0.02 + 0.00 0.57 0.01
Alpha Nat Res* O 2720
0.20-0.080.28
0.11
Alphamin ResV1108 0.280.20
ALQ Gold V 29 0.070.05
0.06-0.010.07
0.03
0.36+0.230.52
0.02
Alset Energy V27844 0.520.12
Alset Energy*O 46 0.360.10
0.28+0.180.36
0.01
Alta Vista Vnt
599
0.06 0.00 0.06 + 0.01 0.25 0.01
0.08-0.010.09
0.05
Altai Res V 152 0.080.08
Altair Gold V 76 0.700.50
0.50-0.180.70
0.06
O 1 0.040.00
0.04+0.000.06
0.02
Alternative ER*
Altiplano MnlsV 86 0.220.17
0.22+0.050.22
0.04
10.56 +0.1615.477.39
Altius Mnrls T 163 10.6110.22
Alto Vent V 350 0.090.05
0.05-0.010.09
0.02
Alumina Inc* O 21 4.124.05
4.07-0.025.40
2.70
ALX UraniumV1941 0.100.08
0.08-0.020.15
0.06
ALX Uranium*O 88 0.070.06
0.07-0.000.10
0.03
412
0.08 0.06 0.08 + 0.01 0.12 0.04
Am CuMo Mng* O
Am CuMo Mng V
664
0.10 0.08 0.09 - 0.01 0.15 0.06
0.25+0.020.45
0.07
AM Gold V 46 0.250.00
Am Manganese
V 701 0.030.02
0.02-0.010.05
0.01
O 217 0.010.01
0.01-0.000.04
0.01
Am Manganese*
Amador GoldV 212 0.010.00
0.01+0.010.02
0.01
Amarc Res V 363 0.080.06
0.06-0.020.14
0.04
Amarillo GoldV 757 0.330.25
0.28-0.040.41
0.04
Amazing OG*O 2 0.390.00
0.38+0.011.21
0.29
O 559 0.070.00
0.02-0.030.08
0.00
Amer Vanadium*
Amer Vanadium
V2300 0.030.02
0.03-0.010.10
0.02
1.27+0.241.25
0.05
American LithV 895 1.270.93
American Pot 177 0.100.00
0.10+0.020.70
0.03
V 749 0.260.24
0.25+0.010.33
0.15
Americas Petro
Americas SilvrT8345 0.350.30
0.31-0.020.40
0.09
Americas Silvr*
O 968 0.260.23
0.24-0.010.32
0.04
0.14-0.010.45
0.10
Amerigo Res T 457 0.150.13
Amerigo Res*O 33 0.100.09
0.10+0.010.36
0.07
0.06+0.010.08
0.02
Amex Expl V 297 0.070.06
AMI Res
V 335 0.060.04
0.06+0.010.06
0.03
0.00-0.001.00
0.00
Andes Gold* O 238 0.010.00
Anfield NickelV1271 1.681.32
1.36-0.201.79
0.52
Anfield Res* O 34 0.160.10
0.16+0.060.16
0.06
Angel Gold* O 26 0.060.00
0.05-0.010.07
0.01
Angkor Gold V 234 0.450.43
0.44-0.010.61
0.38
Anglo American*
O 279 4.744.19
4.44+0.145.76
1.57
Anglo American* O
5
8.92 8.79 8.92 + 0.07 16.12 3.13
Anglo-Can Mng
V 26 0.020.01
0.02+0.010.02
0.01
AngloGold Ash*N19097 14.7413.18
13.38 -1.0816.635.64
Antioquia Gold
V 86 0.100.08
0.09+0.010.11
0.02
Antofagasta* O 13
6.30 6.00 6.30 + 0.30 11.535.24
0.30-0.010.65
0.11
Apogee SilverV 64 0.340.29
Apogee Silver*
O 2 0.260.00
0.26-0.000.45
0.08
Applied Mrnls*
O 322 0.180.15
0.16+0.010.66
0.11
AQM CopperV1011 0.120.07
0.09-0.030.15
0.03
Aquila Res* O 200 0.190.16
0.17-0.010.20
0.09
Aquila Res T 230 0.250.20
0.21-0.030.27
0.12
Arch Coal*
O
325
0.44 0.35 0.40 + 0.04 10.35 0.11
Arco Res V 17 0.080.05
0.08+0.040.09
0.03
Arcus Dev Grp V
187
0.06 0.04 0.04 - 0.02 0.06 0.01
Arena Mnls V 401 0.330.28
0.30-0.020.34
0.15
Argentex MngV 153 0.120.08
0.09-0.010.13
0.02
Argentex Mng*
O 151 0.080.06
0.07+0.010.10
0.01
Argentum Silvr
V 129 0.060.05
0.05-0.010.12
0.02
T1785 0.040.03
0.03-0.010.43
0.02
Argex Titanium
Argonaut Gold*
O 379 2.531.98
1.98-0.432.56
0.53
Argonaut GoldT6719 3.212.56
2.60-0.613.30
0.78
Argus Metals*O 1 0.060.06
0.06+0.010.06
0.01
Argus MetalsV 67 0.100.00
0.07-0.020.11
0.02
0.01-0.010.05
0.01
Arian Res V 593 0.020.01
Arian Silver* O 190 0.040.01
0.02-0.010.50
0.00
Arianne Phosph*
O 30 0.840.79
0.81-0.000.98
0.52
Arianne Phosph
V 106 1.101.03
1.07-0.031.25
0.68
Asanko Gold*X3031 3.733.08
3.11-0.443.73
1.27
4.06-0.594.72
1.77
Asanko Gold T4697 4.654.02
Asante Gold*O 30 0.130.10
0.10-0.030.13
0.05
Ascot Res V 97 1.111.02
1.10+0.052.00
0.80
Ashburton Vent
V12300 0.070.05
0.06+0.010.07
0.01
Ashburton Vent*
O 109 0.050.04
0.04+0.010.06
0.00
AsiaBaseMetals
V 59 0.210.17
0.20+0.040.20
0.04
Asian Minl Res V
91
0.03 0.00 0.03 + 0.01 0.08 0.02
Aston Bay V 192 0.400.35
0.37-0.020.42
0.10
Astur Gold V2311 0.080.02
0.06+0.030.08
0.01
ATAC Res V1230 0.860.70
0.70-0.160.88
0.26
Atacama Pac Gd V
6
0.38 0.34 0.38 + 0.04 0.49 0.14
Atacama Res*O 69 0.100.05
0.10+0.050.10
0.05
Athabasca Mnls*
O 30 0.230.20
0.23+0.030.54
0.12
Athabasca Mnls
V 222 0.320.25
0.28+0.010.70
0.15
Athabasca Nclr
V3886 0.170.08
0.17+0.080.15
0.02
Atico Mng V 579 0.400.35
0.39-0.010.65
0.16
Atico Mng* O 160 0.300.29
0.29-0.010.51
0.12
0.07+0.000.09
0.03
Atlanta Gold*O 46 0.070.07
Atlanta Gold V 125 0.100.09
0.09-0.010.11
0.05
Atlantic GoldV2178 0.610.57
0.59-0.010.73
0.17
Atlatsa Res T 66 0.100.07
0.07-0.020.16
0.03
Atlatsa Res* O 43 0.070.06
0.06+0.010.14
0.02
Atna Res Ltd* O
406
0.01 0.00 0.00 + 0.00 0.09 0.00
Augustine Vent 320 0.080.07
0.07-0.010.09
0.03
Aura Mnls T 828 0.260.25
0.26+0.010.31
0.06
Auramex ResV 87 0.030.00
0.02-0.010.03
0.01
Aurania Res V 39 0.450.41
0.44+0.030.60
0.30
Aurcana Corp*
O 48 0.230.20
0.20-0.030.32
0.07
Aurcana CorpV 352 0.300.25
0.26-0.040.41
0.09
Aureus Mng T6369 0.070.06
0.07-0.010.83
0.05
8-10_JUN6_StockTables.indd 8
(100s)
Stock
Week
12-month
Aureus Mng*O4592
AuRico Metals * O
334
AuRico MetalsT1525
Aurion Res V 226
Aurvista GoldV1941
Aurvista Gold*O 98
Auryn Res* O 565
Avalon Adv Mat T 4993
313
Avalon Adv Mat* O
Avino Silver* X2943
Avino Silver V 367
Avnel Gold T2836
Avrupa Mnls V 48
Axmin Inc* O 32
AZ Mining T2507
Azarga Uranium
T 87
O 27
Azarga Uranium*
Azimut Expl V 450
Azincourt Uran
V 150
Azincourt Uran*
O 19
Azteca Gold*O 102
0.050.00
0.05-0.000.68
0.03
0.85 0.67 0.67 - 0.13 0.90 0.34
1.090.85
0.87-0.201.15
0.47
0.170.14
0.16+0.030.19
0.03
0.160.13
0.13-0.030.16
0.03
0.110.10
0.10-0.010.11
0.02
2.131.50
1.61+0.012.13
0.70
0.28 0.23 0.24 - 0.01 0.33 0.10
0.21 0.18 0.18 - 0.01 0.26 0.07
1.601.33
1.37-0.091.69
0.71
2.001.75
1.77-0.152.16
1.03
0.360.29
0.30-0.060.36
0.18
0.120.11
0.12+0.010.17
0.07
0.020.01
0.01-0.000.06
0.00
1.681.21
1.57+0.311.68
0.22
0.340.00
0.30-0.040.40
0.24
0.260.26
0.26-0.000.29
0.18
0.330.27
0.28-0.030.44
0.10
0.070.05
0.06-0.010.10
0.04
0.050.04
0.05-0.000.07
0.02
0.000.00
0.00-0.000.00
0.00
B2Gold*
X
11667
B2Gold
T31539
Bacanora Mnls
V 368
Baja Mng* O 254
Balmoral Res*O 647
Balmoral ResT2569
Balto Res V 10
Bama Gold 71
Bandera GoldV 93
Bannerman Res*
O 82
Banro
T1028
X8257
Banro*
Banyan GoldV 89
Bard Vent V 22
Barker Mnrls V1754
Barkerville Go*
O 125
Barkerville GoV1600
V 310
Baroyeca Go&Si
Barrick Gold T25642
Barrick Gold* N90169
Barsele Min V 820
Barsele Min* O 7
Batero Gold V 414
Battle Mtn Gld V
228
Battle Mtn Gld* O
39
Bayhorse Silvr*
O 95
Bayhorse SilvrV 74
Bayswater Uran*
O 363
BCM Res V 29
Bear Creek Mng V
690
Beaufield ResV 271
Beaufield Res*
O 18
Bell Copper V
10
Bell Copper* O 36
Bellhaven Cp&G*
O 11
Belmont Res V 30
Belo Sun Mng T 5098
Belvedere ResV 211
Benton Res V8831
Besra Gold* O 56
Big North Grap V
258
Bison Gold Res V
17
Bitterroot ResV 124
Black Hills* N 1879
250
Black Isle Res V
Black Mam Mtls* O
1
Black Mam Mtls V
99
Black Widow Rs V
618
Blind Crk Res V
13
Blue Rvr Res V 1569
Blue Sky Uran V
27
Bluestone ResV 15
Bold Vent V 372
BonTerra ResV1090
BonTerra Res*O 32
Borneo Res Inv* O 37351
Bowmore ExplV 263
Bravada GoldV 251
Bravada Gold*O 66
Braveheart Res
V 325
Bravo Multinat*
O1234
Bravura Vent 2210
Brazil Mnrls* O
263300
BrightRock Gld*
O 138
Brionor Res V 266
Brixton Mtls V 87
Brixton Mtls*O 15
Buenaventura* N 9433
Buffalo Coal V 291
Bullfrog Gold*O1041
13
Bullion Gld Res V
2.031.75
1.75-0.242.31
0.60
2.692.28
2.31-0.332.93
0.86
1.941.53
1.86+0.232.05
1.16
0.010.00
0.01-0.010.03
0.00
0.700.59
0.61-0.050.76
0.23
0.890.76
0.80-0.050.96
0.33
0.030.01
0.01-0.020.03
0.01
0.120.00
0.12-0.010.20
0.07
0.010.01
0.01-0.010.02
0.01
0.030.02
0.02-0.010.05
0.01
0.450.36
0.37-0.060.48
0.21
0.320.27
0.28-0.040.39
0.15
0.080.07
0.07-0.010.09
0.02
0.020.01
0.01-0.010.03
0.01
0.020.01
0.01+0.010.02
0.01
0.420.37
0.41+0.030.51
0.15
0.540.48
0.50+0.020.63
0.20
0.010.01
0.01-0.010.02
0.01
24.1721.30
21.67 -2.2025.447.89
18.2116.24
16.62 -1.5819.735.91
0.840.66
0.71-0.090.84
0.08
0.580.39
0.58+0.190.58
0.05
0.140.12
0.13-0.010.16
0.05
0.68 0.56 0.64 + 0.02 0.68 0.09
0.52 0.41 0.49 - 0.00 0.52 0.06
0.110.08
0.10+0.000.13
0.03
0.140.11
0.11-0.010.20
0.05
0.020.01
0.02+0.010.04
0.00
0.300.26
0.30-0.010.32
0.02
2.22 1.95 2.08 - 0.10 2.68 0.50
0.100.09
0.10+0.010.11
0.03
0.080.07
0.07-0.010.09
0.02
0.05 0.00 0.04 - 0.01 0.06 0.01
0.020.02
0.02-0.020.04
0.00
0.160.16
0.16+0.000.33
0.02
0.080.07
0.07-0.010.12
0.02
0.94 0.81 0.88 - 0.06 1.05 0.15
0.080.06
0.06-0.020.09
0.01
0.100.06
0.07+0.010.10
0.03
0.010.00
0.01+0.000.08
0.00
0.04 0.03 0.03 - 0.01 0.08 0.02
0.17 0.00 0.17 + 0.03 0.63 0.12
0.040.03
0.04+0.010.10
0.03
59.8357.85
59.81 +1.1962.26
36.81
0.05 0.04 0.05 + 0.01 0.05 0.03
0.07 0.05 0.07 + 0.02 0.05 0.03
0.12 0.08 0.12 + 0.04 0.10 0.02
0.04 0.03 0.04 + 0.01 0.08 0.01
0.05 0.00 0.05 - 0.02 0.07 0.03
0.07 0.04 0.05 - 0.01 0.08 0.03
0.08 0.00 0.08 + 0.02 0.19 0.04
0.170.15
0.17+0.010.17
0.05
0.050.04
0.05-0.010.06
0.02
0.410.36
0.37-0.040.51
0.09
0.330.28
0.29-0.020.37
0.08
0.00 0.00 0.00 + 0.00 0.02 0.00
0.130.11
0.12-0.020.15
0.03
0.250.13
0.19+0.020.25
0.02
0.170.10
0.14-0.000.17
0.01
0.060.05
0.05-0.010.08
0.02
0.050.04
0.05+0.010.12
0.02
0.200.07
0.19+0.120.16
0.02
0.000.00
0.00+0.000.00
0.00
0.000.00
0.00-0.000.00
0.00
0.030.02
0.03+0.010.03
0.01
0.400.35
0.38-0.030.45
0.05
0.310.27
0.27-0.050.35
0.03
10.21 9.27 9.52 - 0.45 11.503.30
0.020.01
0.02-0.010.05
0.01
0.070.05
0.07+0.020.07
0.01
0.08 0.00 0.08 - 0.05 0.15 0.05
Cadan Res V 84
Cadillac VentV 610
Cairo Res V 51
Caledonia Mng
T 69
Caledonia Mng*
Q 79
Calibre Mng V2033
Calico Res* O 74
Calico Res V 312
California GldV 215
Callinex MinesV 400
Callinex Mines*
O 393
Cameco Corp*N 5933
Cameco Corp T 3910
Cameo Res V1254
Camino MnlsV 40
Canada CoalV 59
O 52
Canadian Zeol*
Canadian ZeolV 93
CanAlaska Uran
V 555
CanAlaska Uran*
O 68
Canamex Res*
O 69
Canarc Res* Q1832
Canarc Res T4261
Canasil Res V 831
Cancana ResV 87
Candelaria MgV 75
Candente Coppr
T 189
Canex Energy*
O 20
CaNickel Mng*
O 2
CaNickel MngV 12
440
Canoe Mng Vent V
Canstar Res V 77
Canuc Res* O 13
Canuc Res V 49
Canyon Copper
V 20
Canyon Gold*O 218
Capstone Mng
T3178
Cardero Res T 95
Cardero Res*O 56
Cariboo RoseV 225
Carlin Gold V 985
Carmax Mng V 363
Carpathian Gld12693
Carpathian Gld*
O 543
Cartier Res V 349
Carube Copper
V 217
Castle Mtn Mng V 2246
Castle Res 38
Catalyst Coppr
V 117
Cava Res V 45
Caza Gold V 237
CB Gold
V 193
Cda Carbon*O 276
0.080.00
0.07-0.010.09
0.03
0.040.03
0.04+0.010.04
0.01
0.290.24
0.25-0.040.29
0.08
1.271.18
1.23+0.041.45
0.66
0.970.87
0.94+0.021.12
0.48
0.140.12
0.12-0.020.16
0.06
0.100.07
0.08-0.010.12
0.05
0.120.10
0.11-0.010.16
0.06
0.070.06
0.07+0.010.18
0.02
0.470.40
0.42-0.040.54
0.23
0.370.30
0.33-0.030.44
0.17
11.9611.28
11.71 +0.3215.74
10.31
15.5914.86
15.26 +0.3419.54
14.56
0.050.04
0.05+0.010.10
0.02
0.180.00
0.18+0.020.25
0.07
0.020.02
0.02-0.010.03
0.01
0.090.07
0.07+0.000.09
0.05
0.110.10
0.11+0.010.12
0.06
0.650.57
0.60+0.010.65
0.09
0.480.45
0.46+0.010.50
0.06
0.040.03
0.03-0.010.07
0.02
0.050.04
0.05-0.010.12
0.03
0.070.06
0.06-0.010.15
0.04
0.270.23
0.23-0.030.28
0.03
0.200.18
0.18-0.020.32
0.13
0.210.14
0.14-0.070.21
0.06
0.100.09
0.09-0.010.11
0.03
0.020.02
0.02-0.010.12
0.02
0.060.05
0.05-0.000.09
0.01
0.080.00
0.08-0.020.14
0.03
0.06 0.04 0.06 + 0.02 0.06 0.02
0.090.07
0.07-0.010.12
0.03
0.130.13
0.13+0.000.13
0.05
0.200.16
0.18+0.020.30
0.05
0.020.01
0.01-0.010.06
0.01
0.460.30
0.35-0.100.54
0.02
0.690.60
0.67+0.041.34
0.27
0.180.14
0.16+0.020.26
0.08
0.140.10
0.12+0.010.15
0.05
0.070.06
0.06-0.010.08
0.03
0.030.02
0.02-0.010.04
0.01
0.030.00
0.03-0.010.06
0.02
0.070.05
0.06-0.010.07
0.01
0.050.04
0.04-0.000.05
0.00
0.150.12
0.13-0.010.16
0.04
0.100.00
0.10+0.010.21
0.05
0.62 0.49 0.56 + 0.01 0.61 0.18
0.020.00
0.02+0.010.15
0.01
0.540.49
0.53+0.030.56
0.10
0.070.06
0.06-0.010.25
0.04
0.050.03
0.03-0.010.07
0.02
0.150.08
0.08-0.080.15
0.03
0.220.00
0.22-0.010.28
0.18
B
C
(100s)
Stock
Week
12-month
Cda Carbon V 426 0.300.28
0.30+0.010.42
0.23
Cda Strtgc Met V 3083
0.12 0.08 0.09 - 0.01 0.12 0.03
156
0.15 0.14 0.14 - 0.01 0.25 0.10
Cda Zinc Mtls V
Cdn Arrow V 608 0.010.01
0.01+0.010.01
0.01
0.36+0.060.44
0.06
Cdn Metals 375 0.380.30
Cdn Silvr Hunt V
182
0.04 0.03 0.03 - 0.01 0.05 0.01
Cdn Zinc* Q 696 0.160.13
0.14+0.000.23
0.04
Centamin T 254 2.191.79
1.79-0.362.30
1.07
Centaurus Diam*
O 46 0.280.24
0.27+0.020.34
0.01
V 11 0.150.15
0.15-0.010.16
0.02
Centenera Mng
6.77-0.908.67
5.51
Centerra GoldT4080 7.766.72
Centurion Mnls
V 141 0.100.07
0.09-0.010.20
0.04
Cerro Grande 72 0.050.04
0.05+0.010.05
0.01
Cerro Mng V 5 0.020.00
0.02-0.020.03
0.01
Chalice Gold M T
364
0.15 0.14 0.14 - 0.02 0.21 0.09
O 25 0.170.14
0.14-0.030.23
0.09
Champion Iron*
Champion Iron
T1301 0.240.17
0.18-0.030.30
0.08
Chesapeake Gld*
O 64 2.852.65
2.72-0.133.20
1.05
Chesapeake Gld
V 179 3.783.44
3.51-0.204.00
1.39
Chevron*
N 23192 102.37 99.07102.02 + 2.23 104.26 69.58
Chieftain MtlsV 101 0.060.06
0.06+0.010.11
0.03
Chilean Metals
V 155 0.150.10
0.14+0.050.15
0.02
O 178 0.120.08
0.11+0.020.12
0.00
Chilean Metals*
China Gold Int T 2462
2.45 2.06 2.10 - 0.31 2.72 1.52
Cibolan Gold*O 143 0.080.07
0.08+0.000.15
0.03
CKR Carbon V 335 0.090.07
0.07-0.010.20
0.06
2.08-0.252.38
0.51
Claude Res T3633 2.352.08
Claude Res* O 899 1.781.58
1.62-0.161.85
0.39
Clifton Mng* O 65 0.130.13
0.13-0.020.20
0.05
Cloud Peak En* N 3397
1.90 1.64 1.68 - 0.24 6.06 1.08
CMC Metals V 206 0.120.10
0.10-0.010.53
0.05
Coeur Mng* N
21340 8.206.98
7.28-0.668.73
1.62
Colibri Res* O 13 0.090.09
0.09+0.010.12
0.02
V1170 0.010.01
0.01-0.010.01
0.01
Colombia Crest
Colorado Res*O 161 0.300.24
0.25-0.040.32
0.02
Colorado ResV2879 0.400.31
0.32-0.030.40
0.05
Columbus Gold*
O 561 0.550.42
0.45-0.090.58
0.23
T 608 0.730.55
0.57-0.130.75
0.31
Columbus Gold
Commerce Res
V 603 0.080.07
0.08-0.010.13
0.06
Comstock Mng*
X1508 0.390.35
0.35-0.030.75
0.35
Comstock Mtls
V 92 0.170.00
0.14-0.030.25
0.05
Comstock Mtls * O
140
0.14 0.10 0.10 - 0.05 0.20 0.10
Condor Res V 196 0.100.08
0.08-0.010.10
0.02
Confedertn Mls*
O 44 0.060.05
0.06-0.000.06
0.01
CONSOL Energy*
N29807 15.6112.69
14.85 +1.6829.424.54
Constant Mtl V 255 0.080.08
0.08+0.010.17
0.05
Contintl GoldT3984 2.782.40
2.41-0.243.28
1.28
1.85-0.142.65
0.88
Contintl Gold*O 329 2.131.83
Copper Ck Gold V
117
0.07 0.00 0.07 - 0.01 0.10 0.05
Copper Fox Mtl V 1553
0.13 0.12 0.12 - 0.01 0.24 0.11
Copper Fox Mtl* O
38
0.10 0.00 0.10 - 0.00 0.19 0.08
Copper Mtn Mng*O
21
0.36 0.34 0.36 + 0.00 1.07 0.23
Copper Mtn Mng T
866
0.48 0.45 0.47 + 0.01 1.36 0.33
0.02 0.02 0.02 + 0.01 0.06 0.02
Copper North M V 1027
Copper One V 170 0.040.00
0.03-0.010.15
0.03
Copperbank Res*
O 8 0.040.02
0.04+0.000.05
0.01
Corazon GoldV 49 0.270.00
0.27+0.070.30
0.18
Cordoba MnlsV 469 0.750.57
0.57-0.161.00
0.10
Cornerstone Ca*
O 243 0.040.03
0.03-0.010.06
0.01
Cornerstone Ca
V 978 0.050.04
0.04-0.010.08
0.02
0.09-0.030.21
0.02
Coro Mining T3337 0.130.09
Coronet MtlsV 58 0.080.07
0.08+0.010.12
0.03
Corsa Coal V 90 0.080.07
0.07+0.010.12
0.02
Corvus Gold T 165 0.990.85
0.85-0.111.12
0.33
Corvus Gold*O 59 0.790.65
0.65-0.080.89
0.25
Crazy Horse Res V
30
0.02 0.02 0.02 + 0.01 0.07 0.01
Critical Elem V11766 0.700.44
0.59+0.010.70
0.14
0.46+0.060.53
0.10
Critical Elem*O 918 0.530.42
Crown MiningV 150 0.180.13
0.13-0.050.20
0.03
Crystal Pk Min V
69
0.40 0.39 0.39 - 0.01 0.42 0.13
Crystal Pk Min* O
86
0.31 0.29 0.29 - 0.02 0.32 0.11
Cypress Dev*O 30 0.110.10
0.11+0.010.16
0.01
0.16+0.010.20
0.02
Cypress Dev V 333 0.160.13
D-F
Daleco Res* O 25
Dalradian Res*
O 711
Dalradian ResT2263
Danakali* O 190
Darnley Bay V 837
Defiance Silvr*O 78
Defiance SilvrV1235
Denison Mines*
X 846
Denison Mines
T2849
Desert Star V 687
Detour Gold T 5193
Diamante Min*
O 441
Diamcor MngV 66
Diamcor Mng*O 41
Dios Expl V 291
Discovery Mnls*
O3600
Discovery Vent*
O 158
Discovery Vent
V3391
Discovery-Corp
V 131
DNI Metals 719
Dolly Vard Sil* O
62
Dolly Vard Sil V
49
Dominion Diam* N 1056
Dominion DiamT 601
Double Crn Res* O 1485
Doubleview Cap
V1437
DRDGOLD* N3214
Dundee Prec Mt T
844
Durango Res*O 25
Durango ResV2720
DuSolo FertilV 165
Dynacor Gld Mn T
362
O 5
DynaResource*
Dynasty GoldV 227
Dynasty Met&Mn
T 252
East Africa V
404
O 6
Eastern Platin*
Eastern PlatinT2481
Eastfield ResV 49
Eastmain ResT6594
Eco Oro Mnls T
117
Ecuador GoldV 192
V 68
Edgewater Expl
El Capitan Prc* O 1285
El Nino Vent
V
182
Elcora Res V 146
Elcora Res* O 15
Eldorado Gold*
N
33312
Eldorado GoldT20040
Ely Gold & Mnl* O
331
Ely Gold & Mnl V
191
Emerita Res V4260
Emgold Mng*O 91
Empire Rock V 36
Encanto Potash*
O 285
Encanto Potash
V2062
Endeavour MngT 2813
Endeavour Mng*
O 118
Endeavr Silver*
N9637
Endeavr SilverT1297
Endurance Gold
V 173
O 517
Energizer Res*
Energizer ResT 797
Energy FuelsT 221
Energy Fuels*X 729
Ensurge* O 327
Entree Gold* X 357
Entree Gold T 199
Equitas Res*O 949
Equitorial Ex V 792
Era Res Inc
V
128
Erdene Res Dev T 2239
Erdene Res Dev* O
65
Erin Ventures*O 41
Erin VenturesV 766
0.050.04
0.04-0.010.10
0.01
0.880.74
0.75-0.071.04
0.45
1.100.96
0.99-0.091.32
0.62
0.230.20
0.22-0.010.40
0.17
0.180.08
0.14+0.060.18
0.01
0.170.15
0.16-0.010.20
0.04
0.240.19
0.20-0.020.27
0.06
0.510.48
0.48-0.020.85
0.35
0.660.61
0.61-0.051.05
0.48
0.070.05
0.06+0.020.17
0.03
28.4424.96
25.15 -3.0130.50
10.62
0.280.20
0.28+0.050.95
0.17
1.141.05
1.14+0.061.45
0.65
0.870.80
0.87+0.061.15
0.46
0.150.10
0.12-0.010.19
0.04
0.000.00
0.00-0.000.00
0.00
0.100.09
0.10+0.010.20
0.07
0.140.13
0.14+0.010.25
0.10
0.040.03
0.04+0.010.11
0.03
0.070.04
0.06+0.020.10
0.04
0.22 0.15 0.17 - 0.03 0.30 0.08
0.30 0.23 0.30 + 0.03 0.45 0.11
10.62 9.99 10.28 + 0.11 19.50 7.27
13.7813.07
13.37 -0.0124.279.96
0.02 0.01 0.02 - 0.00 0.02 0.01
0.120.07
0.10+0.030.18
0.06
5.354.34
4.53-0.926.05
1.10
3.11 2.35 2.50 - 0.56 3.14 0.84
0.090.09
0.09-0.000.15
0.02
0.130.09
0.10-0.010.21
0.03
0.050.04
0.05+0.010.22
0.03
2.11 1.86 1.96 - 0.12 2.32 1.30
1.371.30
1.35-0.022.00
0.80
0.020.00
0.01-0.010.03
0.01
0.160.14
0.15-0.010.78
0.10
0.15 0.12 0.12 - 0.03 0.16 0.03
0.850.78
0.79-0.061.60
0.47
1.171.01
1.15+0.062.03
0.61
0.030.03
0.03-0.010.05
0.02
0.590.46
0.46-0.090.63
0.28
0.39 0.28 0.32 - 0.07 0.81 0.25
0.420.33
0.42+0.090.40
0.10
0.040.03
0.03-0.010.04
0.01
0.04 0.03 0.04 + 0.01 0.11 0.03
0.03 0.02 0.02 - 0.01 0.03 0.01
0.440.40
0.42-0.020.75
0.15
0.330.31
0.33+0.010.55
0.20
4.644.13
4.23-0.285.16
1.87
6.075.41
5.50-0.396.65
2.67
0.11 0.09 0.10 + 0.01 0.12 0.02
0.14 0.12 0.14 + 0.02 0.17 0.03
0.100.08
0.09+0.010.09
0.02
0.020.01
0.02+0.010.03
0.00
0.220.00
0.20-0.020.27
0.04
0.090.07
0.08-0.010.14
0.03
0.110.10
0.11+0.010.18
0.05
18.4216.75
16.84 -1.5419.634.35
13.9012.81
12.88 -1.0915.234.40
3.603.03
3.05-0.484.28
1.00
4.633.95
3.99-0.625.36
1.46
0.050.04
0.05+0.010.08
0.02
0.070.06
0.07-0.010.10
0.03
0.100.09
0.09-0.010.13
0.03
3.082.86
2.87-0.016.59
2.47
2.382.19
2.21+0.015.35
1.81
0.030.02
0.03+0.010.09
0.01
0.350.29
0.32+0.010.41
0.17
0.420.39
0.40-0.020.53
0.25
0.050.05
0.05+0.000.17
0.02
0.060.05
0.05-0.010.19
0.02
0.29 0.11 0.29 + 0.04 0.50 0.09
0.47 0.31 0.33 - 0.13 0.55 0.11
0.34 0.27 0.29 - 0.02 0.42 0.08
0.040.03
0.04+0.010.08
0.03
0.050.04
0.05-0.010.11
0.04
(100s)
Stock
Week
12-month
Eskay Mng V 352
Ethos Gold V 250
X 142
Eurasian Mnls*
Eurasian MnlsV 47
Eureka Res V 190
EurOmax ResV 107
22
Europn Uran Rs* O
40
Europn Uran Rs V
Everton Res V1830
Everton Res*O 56
Evolving Gold 244
O 26
Evolving Gold*
Evrim Res V 313
O 455
Excalibur Res*
Excellon Res*O 132
Excellon ResT 865
O 101
Excelsior Mng*
Excelsior MngV 432
Exeter Res* X 863
Exeter Res T 147
O 1
Expedition Mng*
Explor Res* O 100
Explor Res V 912
Explorex Res 28
Fairmont ResV6140
Falco Res V4066
Fancamp ExplV1013
Far Res 1011
Fieldex Expl V5831
Finlay Minrls V 149
2
Fire River Gol* O
O 57
Firma Holdings*
First Liberty* O2832
First Majestic*N25859
First Majestic T 8754
First MexicanV 438
V 4484
First Mg Fin
First Mg Fin * O 5111
First Point T 136
First Quantum T 30639
Fission Uran*O 425
Fission Uran T2231
Fjordland ExpV2193
Flinders Res V 147
Flinders Res*O 230
V1230
Focus Graphite
O 257
Focus Graphite*
Focus Vent V 603
Foran Mng V 174
T 650
Formation Mtls
Forsys MetalsT 223
O 14
Fortescue Mtls*
Fortuna Silvr T2555
Fortuna Silvr*N4111
Fortune Bay T 4
Fortune MnrlsT1608
O 31
Fortune Mnrls*
V 249
Forum Uranium
O 433
Forum Uranium*
Four River V 20
8
Fox River Res* O
7904
Fox River Res
N 3817
Franco-Nevada*
Franco-NevadaT 3137
Franklin Mng*O 40
Freegold VentT 302
185596
N
Freeport McMo*
Fresnillo plc* O 6
Frontline GoldV 272
35
Full Metal Mnl V
0.01
0.20+0.010.21
0.210.17
0.11
0.26-0.030.34
0.300.23
0.35
0.87-0.051.03
0.940.85
0.48
1.13-0.081.34
1.291.13
0.04
0.11-0.010.13
0.120.09
0.21
0.46-0.040.62
0.510.46
0.02 0.00 0.02 + 0.01 0.02 0.00
0.02 0.00 0.02 - 0.01 0.02 0.01
0.01
0.05-0.010.08
0.060.04
0.00
0.04-0.000.06
0.050.03
0.02
0.22+0.040.25
0.220.00
0.02
0.16+0.000.23
0.160.13
0.10
0.25-0.060.35
0.320.25
0.00
0.03-0.010.06
0.060.03
0.14
0.85-0.091.13
0.980.85
0.20
1.11-0.151.40
1.271.05
0.12
0.30+0.020.31
0.310.28
0.19
0.39+0.030.39
0.390.35
0.29
0.77-0.051.07
0.950.76
0.39
1.04-0.041.34
1.240.99
0.14
0.14-0.010.22
0.140.14
0.03
0.16+0.010.18
0.160.13
0.04
0.19-0.020.24
0.210.17
0.05
0.13-0.020.19
0.150.13
0.02
0.08+0.020.19
0.120.06
0.21
0.93+0.121.00
1.000.73
0.02
0.04-0.010.05
0.050.04
0.02
0.11-0.020.15
0.130.09
0.01
0.04+0.010.05
0.040.02
0.02
0.04-0.010.05
0.040.04
0.04 0.00 0.04 + 0.04 0.77 0.00
0.02
0.04-0.010.25
0.040.04
0.00
0.00+0.000.00
0.000.00
10.35 -1.1212.232.40
11.6810.07
13.49 -1.5515.783.50
15.4013.22
0.02
0.05+0.020.07
0.050.04
0.76 0.61 0.64 - 0.11 0.84 0.25
0.59 0.46 0.49 - 0.08 0.67 0.19
0.04
0.07+0.010.10
0.080.07
9.04 8.18 8.92 + 0.30 18.56 2.15
0.39
0.47-0.020.94
0.510.46
0.53
0.63-0.011.16
0.640.60
0.01
0.06-0.020.08
0.080.05
0.12
0.45+0.060.60
0.450.37
0.09
0.34+0.040.47
0.350.29
0.07
0.15-0.010.30
0.170.14
0.04
0.11+0.000.23
0.130.10
0.05
0.08-0.010.24
0.090.08
0.05
0.16+0.010.24
0.180.15
0.09
0.37+0.040.47
0.380.33
0.06
0.07+0.010.23
0.070.06
1.00
2.11-0.042.80
2.172.08
2.65
7.14-0.948.60
8.147.07
2.00
5.49-0.686.69
6.195.40
0.25
0.32-0.010.43
0.340.00
0.02
0.11-0.010.14
0.120.10
0.01
0.07-0.010.11
0.100.00
0.04
0.13-0.020.20
0.170.13
0.03
0.12+0.010.14
0.140.10
0.05
0.33+0.030.33
0.330.00
0.04 0.03 0.03 + 0.00 0.04 0.02
0.05 0.04 0.05 + 0.01 0.06 0.03
38.20
62.81 -2.7171.48
65.9760.77
49.96
81.80 -4.2091.61
86.2979.82
0.00
0.00+0.000.00
0.000.00
0.05
0.18-0.020.27
0.190.17
11.14 +0.0621.173.52
12.0410.72
14.63 -1.1416.928.70
15.6814.63
0.01
0.02-0.010.03
0.020.02
0.05 0.04 0.05 + 0.01 0.07 0.02
G&S Minerals*O 5
Gabriel Res T 810
Gainey CapitalV 198
Galane Gold V 342
Galantas GoldV 15
Galway Gold V 936
Galway Mtls V 121
Garibaldi ResV 497
GB Minerals V 31
497
V
Gem Intl Res
General MolyT 8
General Moly*X 238
Genesis MtlsV 103
Genesis Mtls*O 5
Genius Props 1261
Geodex MnrlsV 169
Geologix ExplV 836
O 340
Geologix Expl*
O 381
Geomega Res*
Geomega ResV 479
757
Gespeg Cop Res V
Getty CopperV 108
O 32
Gldn Predator*
Gldn PredatorV 769
30
Glen Eagle Res V
Glencore Plc*O 924
Global Gold* O 829
Global HunterV 191
Global Mnrls V 11
O 1
GlobalMin Vent*
Globex Mng*O 56
Globex Mng T1040
GMCI Corp* O 4
GMV MineralsV 166
V 29
GobiMin
GoGold Res T1304
Gold & Silver* O 2733
488
Gold Bulln Dev* O
Gold Bulln Dev V 5237
O 133
Gold Dynamics*
33931
Gold Fields* N
273
Gold Jub Cap V
902
Gold Mng USA* O
164
Gold Mtn Mng V
79
Gold Reach Res V
Gold Reserve*O2037
Gold ReserveV 166
X4301
Gold Resource*
610
Gold Ridge Exp V
Gold Std Vents* X 5113
Gold Std Vents V 2066
V 170
Goldbank Mng
Goldbelt EmpV 270
Goldcliff Res V 229
T14345
Goldcorp
Goldcorp* N46589
Golden ArrowV1945
53
Golden Dawn Ml*O
Golden Dawn Ml V 2107
Golden Harp V 41
Golden HopeV 56
Golden Matrix* O 1682
Golden Mnls*X1475
Golden Mnls T 391
135
Golden Peak Mn V
O 924
Golden Queen*
Golden QueenT 298
Golden SecretV 243
83
Golden Sh Mng V
Golden Star T1231
11080
Golden Star* X
Golden Tag V 95
Golden ValleyV1591
Goldex Res V 70
O1770
Goldgroup Mng*
T2805
Goldgroup Mng
GoldON Res*O 4
GoldON Res V 126
0.00
0.00-0.000.00
0.000.00
0.12
0.24+0.030.48
0.240.21
0.10
0.15+0.020.30
0.180.13
0.03
0.04-0.010.13
0.050.04
0.07
0.11-0.020.18
0.120.11
0.04
0.05-0.010.11
0.060.05
0.09
0.12-0.020.18
0.140.00
0.05
0.08-0.010.18
0.090.08
0.02
0.09+0.010.12
0.100.09
0.12 0.09 0.10 + 0.02 0.12 0.04
0.22
0.43-0.021.00
0.460.43
0.15
0.35+0.000.82
0.370.31
0.05
0.19-0.010.22
0.200.18
0.10
0.12-0.030.15
0.150.12
0.02
0.05+0.010.12
0.050.04
0.05
0.08-0.030.30
0.100.08
0.02
0.06-0.010.07
0.070.06
0.01
0.05-0.010.06
0.050.05
0.03
0.14+0.010.15
0.140.00
0.06
0.18+0.020.21
0.190.15
0.05 0.03 0.05 + 0.02 0.05 0.02
0.02
0.02-0.010.05
0.030.02
0.06
0.45+0.130.42
0.460.32
0.07
0.59+0.130.63
0.630.43
0.11 0.10 0.10 - 0.01 0.16 0.03
1.95
3.89+0.239.15
4.063.61
0.00
0.01-0.010.05
0.020.01
0.01
0.02-0.010.07
0.030.02
0.02
0.09+0.020.15
0.100.00
0.07
0.08+0.010.20
0.080.07
0.13
0.34+0.100.33
0.340.24
0.17
0.45+0.130.45
0.450.31
0.20
2.46+0.082.50
2.460.00
0.05
0.13-0.040.20
0.170.12
0.27
0.40-0.020.46
0.460.40
0.94
0.051.67
1.12-
1.221.06
0.01 0.01 0.01 - 0.00 3640.00 0.00
0.11 0.10 0.10 - 0.00 0.11 0.01
0.16 0.12 0.14 - 0.01 0.16 0.02
0.00
0.00-0.000.01
0.000.00
2.04
3.50-0.534.76
4.093.45
0.17 0.16 0.16 - 0.02 0.28 0.07
0.02 0.02 0.02 - 0.00 0.19 0.01
0.11 0.10 0.10 - 0.01 0.18 0.02
0.19 0.16 0.19 + 0.03 0.25 0.08
2.19
2.55-1.845.90
4.552.48
3.06
3.47-2.338.00
6.003.28
1.14
2.98-0.523.88
3.612.90
0.10 0.05 0.10 + 0.02 0.09 0.01
1.89 1.48 1.62 - 0.01 1.89 0.26
2.35 1.95 2.06 - 0.08 2.35 0.40
0.03
0.13+0.030.13
0.130.10
0.02
0.04-0.040.10
0.070.04
0.01
0.03+0.010.03
0.030.02
13.55
21.65 -1.1225.35
22.9621.03
16.60 -0.7720.249.46
17.6416.03
0.17
0.62-0.130.83
0.750.59
0.11 0.10 0.11 + 0.00 0.14 0.06
0.15 0.13 0.15 + 0.01 0.21 0.07
0.03
0.25+0.050.25
0.250.13
0.13
0.16-0.010.64
0.170.00
0.05 0.02 0.03 - 0.02 3000.00 0.01
0.13
0.37-0.010.94
0.420.36
0.19
0.50-0.021.22
0.550.49
0.08 0.06 0.08 + 0.01 0.09 0.04
0.48
1.14-0.141.56
1.271.01
0.65
1.48-0.192.00
1.701.34
0.02
0.42-0.120.67
0.540.41
0.20 0.17 0.17 - 0.01 0.26 0.03
0.21
0.68-0.101.05
0.790.62
0.14
0.52-0.060.84
0.580.47
0.02
0.06-0.010.09
0.060.06
0.07
0.23+0.010.23
0.230.20
0.10
0.55+0.050.65
0.600.46
0.03
0.14+0.000.17
0.160.12
0.05
0.18+0.010.22
0.190.18
0.03
0.09-0.060.15
0.150.09
0.03
0.13-0.050.36
0.180.12
G-H
2016-05-31 3:56 PM
GLOBAL MINING NEWS
9
(100s)
Stock
Week
12-month
GoldQuest Mng
V2303
Goldrea Res 405
Goldrock Mines
V 601
Goldsource Min*
O 548
Goldsource Min
V1138
Goldstar MnlsV 36
Goldstrike Res
V 402
GoldTrain Res 4
Gonzaga ResV 128
GoviEx Uranium 450
Gowest Gold*O 705
Gowest GoldV2067
GPM Metals*O 170
GPM Metals V 416
Gran Colombia*
O 261
Gran Colombia
T1151
Grande Portage
V 18
Granite Ck Gld V
93
Graniz MondalV 24
Graphite Corp*
O1729
Graphite OneV10906
Graphite One*O 767
Great Bear Res V
458
Great Lakes Gr* O
143
Great PantherT2035
X6435
Great Panther*
34
Great Quest Fe V
Great Rock Dev* O
608
Great ThunderV12962
Great Western*
O 425
310
Green Valley M V
Greenland M&En*
O 253
Greenshield Ex
V 4
Grenville GoldV 59
Grizzly DiscvrV 48
Grizzly Gold*O 99
Group Ten Mtls V 1218
GTA Res & Mng V
276
Guerrero Vents
V 199
Gungnir Res V 680
Gungnir Res*O 388
Gunpoint ExplV 63
Guyana Gldflds
T4483
Harmony Gold*
N
20656
Harte Gold T3131
V 442
Heatherdale Rs
Hecla Mining*N
43158
Helio Res V 865
Hellix Vent* O 393
Hemcare Health*
O 2
Heron Res T 70
HFX Holding V 9
Highbank ResV1270
Highland Copp
V 230
Highway 50 Gld V
80
O 14
Hochschild Mg*
Homestake Res*
O 74
Homestake Res
V1583
T1475
Horizonte Mnls
Hornby Bay Mnl V
191
HudBay Mnls*N 995
HudBay Mnls T 7421
Hudson Res V 137
Hudson Res*O 12
Hunt Mng* O 35
Hunt Mng V 77
0.370.31
0.31-0.040.39
0.09
0.070.05
0.07+0.010.11
0.02
0.620.52
0.54-0.080.64
0.15
0.330.29
0.32-0.000.33
0.11
0.430.39
0.41-0.010.43
0.13
0.050.00
0.05-0.010.07
0.01
0.180.17
0.18+0.010.21
0.07
0.090.00
0.09+0.010.20
0.08
0.030.03
0.03-0.010.04
0.01
0.090.07
0.08+0.010.19
0.04
0.070.05
0.06-0.010.10
0.04
0.090.08
0.08-0.010.12
0.05
0.180.16
0.16-0.030.21
0.07
0.270.21
0.27+0.020.33
0.08
0.080.06
0.08+0.010.30
0.04
0.100.09
0.09-0.010.41
0.06
0.130.00
0.13+0.060.14
0.04
0.04 0.02 0.04 + 0.02 0.03 0.01
0.030.02
0.03+0.010.03
0.01
0.010.00
0.01-0.000.02
0.00
0.180.14
0.14-0.030.18
0.07
0.140.11
0.12-0.020.14
0.05
0.04 0.03 0.04 + 0.01 0.08 0.01
0.06 0.05 0.06 + 0.00 0.12 0.04
2.211.87
1.90-0.242.82
0.40
1.721.44
1.44-0.212.25
0.30
0.20 0.16 0.17 - 0.03 0.63 0.11
0.00 0.00 0.00 - 0.00 0.02 0.00
0.240.06
0.15+0.090.24
0.01
0.000.00
0.00-0.000.01
0.00
0.02 0.02 0.02 + 0.01 0.03 0.01
0.040.02
0.04+0.010.17
0.01
0.040.00
0.04-0.010.05
0.01
0.100.08
0.09-0.020.15
0.05
0.070.06
0.07+0.010.10
0.01
0.100.06
0.06-0.020.20
0.01
0.04 0.03 0.03 - 0.01 0.06 0.01
0.07 0.05 0.06 + 0.01 0.08 0.02
0.020.02
0.02-0.010.05
0.01
0.030.03
0.03-0.010.04
0.01
0.020.02
0.02+0.000.03
0.00
0.280.27
0.27-0.010.30
0.13
8.226.97
7.08-1.148.47
2.48
3.412.88
2.92-0.404.19
0.53
0.220.19
0.21-0.010.35
0.05
0.040.03
0.03-0.010.04
0.01
4.333.83
3.91-0.334.73
1.45
0.070.05
0.05-0.010.07
0.02
0.020.01
0.02+0.010.06
0.00
0.120.07
0.07-0.060.80
0.01
0.130.11
0.12+0.010.14
0.07
0.070.05
0.05-0.030.15
0.01
0.070.05
0.06+0.010.21
0.04
0.090.08
0.09+0.010.20
0.07
0.24 0.24 0.24 + 0.01 0.24 0.05
2.152.07
2.09-0.072.30
0.59
0.070.06
0.06+0.010.11
0.01
0.090.08
0.08-0.010.15
0.01
0.050.04
0.04-0.010.06
0.02
0.04 0.04 0.04 + 0.01 0.10 0.03
4.143.74
3.96+0.109.92
1.56
5.34 4.92 5.15 + 0.10 12.37 2.26
0.460.44
0.45+0.010.55
0.34
0.340.33
0.34+0.000.41
0.26
0.140.10
0.10-0.040.14
0.01
0.180.13
0.15-0.030.18
0.02
I-Minerals* O 84
I-Minerals V1289
IAMGOLD T16546
IAMGOLD* N
34254
Iberian MnrlsV4333
IC Potash* O 204
IC Potash T1174
Iconic Mnls V 994
IDM Mining* O 809
IDM Mining V2773
IMPACT SilverV 917
O 270
Impala Platnm*
Imperial Metal*
O 12
Imperial Metal T
149
IMX Res* O 72
Inca One Gold V 5638
96
Inception Mng * O
V 265
Independence G
Indico Res V1971
Infrastructure*O 319
Intact Gold V3600
Intact Gold* O 88
Integra Gold V6920
Integra Gold*O2528
Inter-Rock Mnl
V 256
Intgr Egy Sol* O 89417
Intigold MinesV 288
Intl Bethl Mng V
192
Intl Lithium* O 145
Intl Lithium V 791
Intl Montoro*O 56
Intl Tower Hil
T
408
Intl Tower Hil* X 1038
INV Metals T 334
Inventus Mg V 226
Ireland*
O 247
Irving Res* O 6
Itoco Mg Corp* O
51
Ivanhoe Mines*
O 916
Ivanhoe MinesT5699
Jaguar Mng*O 469
Jaguar Mng V1283
Jasper Mng V 53
Jaxon Mnls V 22
Jayden Res V 58
Kaizen Discvry
V 431
Kaminak GoldV4386
Kaminak Gold*
O 996
Karmin Expl V 5
Karnalyte ResT 89
KAT Expl* O
74283
Katanga MngT 425
Kennady DiamV 150
Kesselrun ResV 604
Khalkos ExplV 280
V 879
Kilo Goldmines
Kincora Copper
V3360
Kings Bay Gold V
571
Kingsmen Res*
O 40
Kinross Gold*N
70499
Kinross Gold T45296
Kirkland Lk Gd* O
178
Kirkland Lk Gd T 3472
Kiska Metals*O 164
Kiska Metals V 997
Kivalliq EnrgyV 522
Klondex MnsT1596
Klondike GoldV1242
Klondike Gold*
O 190
Klondike SilvV 313
Kombat Copper
V 946
Kootenay SilvrV1466
KWG Res 5197
0.190.17
0.19+0.020.28
0.14
0.270.22
0.27+0.030.37
0.16
4.914.14
4.14-0.595.22
1.50
3.643.16
3.17-0.454.05
1.15
0.070.05
0.06+0.010.11
0.04
0.060.04
0.04-0.010.23
0.03
0.070.06
0.06-0.010.29
0.04
0.360.26
0.31-0.020.36
0.03
0.160.13
0.14-0.020.19
0.04
0.210.17
0.18-0.020.24
0.07
0.720.55
0.59-0.040.80
0.11
3.303.00
3.11-0.165.09
1.45
4.684.12
4.29-0.278.81
2.81
6.10 5.34 5.66 - 0.41 11.01 3.92
0.020.00
0.00-0.000.02
0.00
0.06 0.05 0.05 - 0.01 0.22 0.04
0.17 0.09 0.15 - 0.57 1.65 0.50
0.150.13
0.14-0.020.17
0.06
0.080.04
0.05-0.020.16
0.03
0.010.01
0.01+0.000.02
0.01
0.110.09
0.09-0.010.18
0.02
0.080.07
0.07-0.010.14
0.07
0.710.60
0.63-0.070.74
0.23
0.560.46
0.49-0.050.59
0.18
0.130.10
0.10-0.030.14
0.01
0.00 0.00 0.00 - 0.00 0.00 0.00
0.080.06
0.08+0.010.26
0.06
0.04 0.03 0.03 - 0.01 0.10 0.02
0.220.18
0.20+0.020.55
0.01
0.280.24
0.26+0.020.38
0.03
0.010.00
0.01-0.000.05
0.01
0.76 0.57 0.63 - 0.09 0.95 0.26
0.56 0.40 0.45 - 0.10 0.75 0.18
0.690.52
0.52-0.100.80
0.08
0.300.26
0.28-0.020.30
0.02
0.230.13
0.21-0.030.51
0.13
0.120.10
0.12-0.000.15
0.09
0.12 0.08 0.10 - 0.02 1.10 0.11
0.850.73
0.76-0.051.00
0.36
1.060.96
0.99-0.061.24
0.53
0.280.25
0.25-0.010.32
0.07
0.370.33
0.33-0.030.40
0.12
0.080.00
0.05-0.030.08
0.02
0.080.07
0.08+0.010.09
0.01
0.080.00
0.08-0.030.14
0.03
0.250.20
0.21-0.040.28
0.08
2.472.27
2.32-0.142.61
0.61
1.901.71
1.78-0.102.02
0.47
0.320.30
0.30-0.020.40
0.15
2.051.86
1.90-0.104.15
0.52
0.000.00
0.00-0.000.00
0.00
0.160.14
0.16+0.010.26
0.13
4.403.79
4.25+0.155.95
2.35
0.150.10
0.12-0.010.18
0.02
0.150.13
0.13-0.010.26
0.05
0.140.10
0.10-0.030.17
0.04
0.050.03
0.04+0.020.05
0.02
0.01 0.01 0.01 - 0.01 0.02 0.01
0.080.07
0.07-0.010.09
0.02
5.024.22
4.23-0.745.82
1.31
6.575.50
5.52-0.987.49
1.79
8.39 7.62 7.63 - 0.73 9.24 3.12
11.00 9.84 9.99 - 1.01 11.97 4.49
0.040.04
0.04+0.000.04
0.01
0.060.04
0.05+0.010.06
0.01
0.090.08
0.08-0.010.13
0.06
4.594.07
4.15-0.404.90
2.56
0.370.31
0.33-0.030.37
0.08
0.280.25
0.25+0.000.28
0.06
0.040.03
0.04+0.010.06
0.01
0.070.06
0.07-0.010.10
0.02
0.480.40
0.44-0.010.50
0.17
0.030.03
0.03-0.010.04
0.01
Labdr Iron Mns* O
92
Labrador Iron T 1096
Lakeside Mnrls
V 90
Lamelee IronV6193
Lancaster CapV 12
Lara Expl V 927
0.01 0.00 0.00 - 0.00 0.02 0.00
12.3111.22
11.54 -0.5017.456.85
0.010.01
0.01-0.010.02
0.01
0.020.01
0.02+0.010.04
0.01
0.320.28
0.28-0.040.32
0.06
0.980.83
0.86-0.071.04
0.20
I-J-K
L
(100s)
Stock
Week
12-month
Laramide ResT 442
Largo Res* O 57
Largo Res V 384
Laurion Mnl Ex V
91
Leeta Gold V 97
Legend Gold*O 13
Legend GoldV 129
Lepanto Con Mg*O
50
Levon Res Ltd T
316
Levon Res Ltd * O
66
820
Lexam VG Gold T
Lexam VG Gold* O
481
Li3 Energy* O 537
30533
Liberty Star* Q
Lincoln Mng V 593
132
Lion One Mtls V
Lion One Mtls* O
30
Lions Gate Mtl
48
Lithium AmerT18096
Lithium Amer*O3092
Lithium Corp*O1471
14878
Lithium Expl*O
LKA Gold* O 5
Lomiko Mtls*O 102
Loncor Res* O 29
Loncor Res T 51
Lonmin plc*
O
1
Lowell CopperV 72
Lucara Diam T3747
Luna Gold* O 149
Luna Gold T 184
Lundin Gold T 160
Lundin Mng T12330
Lupaka Gold V 420
Lydian Intl* O 282
Lydian Intl T2342
Lynas Corp* O 310
0.260.24
0.26+0.010.38
0.15
0.500.40
0.45+0.040.68
0.08
0.660.53
0.61+0.020.87
0.11
0.02 0.01 0.01 - 0.01 0.03 0.01
0.050.04
0.04-0.020.07
0.03
0.030.03
0.03-0.000.05
0.01
0.060.04
0.04-0.010.06
0.02
0.01 0.01 0.01 + 0.01 0.02 0.00
0.28 0.25 0.27 + 0.02 0.34 0.09
0.21 0.17 0.20 + 0.01 0.26 0.07
0.25 0.21 0.24 + 0.01 0.29 0.05
0.20 0.16 0.17 - 0.01 0.23 0.04
0.020.02
0.02+0.000.04
0.01
0.000.00
0.00+0.000.01
0.00
0.060.05
0.05-0.010.10
0.02
0.64 0.53 0.58 - 0.04 0.74 0.24
0.46 0.41 0.44 - 0.01 0.59 0.18
0.05 0.00 0.04 - 0.01 0.06 0.01
0.910.76
0.85-0.031.00
0.26
0.700.59
0.64-0.020.80
0.34
0.100.08
0.08-0.010.13
0.02
0.010.00
0.01+0.000.45
0.00
0.440.00
0.44+0.000.53
0.10
0.040.03
0.03-0.000.05
0.02
0.130.11
0.11-0.020.15
0.01
0.180.14
0.15-0.030.18
0.02
2.73 0.00 2.58 - 0.20 224.00 0.55
0.240.23
0.24+0.010.43
0.12
4.073.73
4.03+0.244.07
1.42
0.150.13
0.13+0.000.16
0.02
0.190.17
0.19+0.010.21
0.03
5.805.50
5.72-0.066.51
3.46
4.444.08
4.40+0.266.03
2.98
0.170.15
0.17-0.010.19
0.04
0.280.24
0.25-0.020.48
0.13
0.380.32
0.32-0.030.58
0.19
0.060.04
0.05+0.010.10
0.02
M
Macarthur MnlV5739 0.160.12
0.13-0.010.18
0.02
Macarthur Mnl*
O 173 0.110.10
0.10-0.010.14
0.02
MacDonald Mns
V1169 0.010.00
0.01+0.010.01
0.01
Mag Copper 3250 0.010.01
0.01+0.010.08
0.01
MAG Silver T 1665 17.9715.30
15.58 -2.3618.588.13
11.95 -1.7714.406.12
MAG Silver* X 743 13.7911.73
Magellan Gold*
O 68 0.290.08
0.12+0.010.29
0.04
Magnus Intl* O 100 0.000.00
0.00-0.000.00
0.00
Majescor ResV1663 0.140.07
0.14+0.050.14
0.02
Majescor Res*O 37 0.090.00
0.08+0.050.09
0.01
Makena Res*O 6 0.020.02
0.02-0.000.03
0.01
0.28+0.010.55
0.10
Malbex Res V 317 0.300.27
Mandalay ResT2693 1.101.03
1.04-0.031.14
0.59
Manitou GoldV 577 0.050.04
0.05+0.010.05
0.02
0.02-0.010.03
0.01
Manson CreekV 9 0.020.00
Marathon Gold
T1349 0.310.26
0.28-0.020.33
0.11
Marlin Gold V 427 0.450.35
0.39+0.010.69
0.15
Marlin Gold* O 89 0.310.29
0.29+0.000.52
0.10
MartinMarietta*N 3358 193.87186.70
191.83 + 4.65193.87108.31
Mason Graphite
V 708 0.760.63
0.76+0.120.73
0.30
Mason Graphite*
O 89 0.570.49
0.55+0.090.55
0.21
V 40 0.050.04
0.04-0.010.08
0.03
Masuparia Gold
Matamec Expl*
O 157 0.050.04
0.04-0.010.06
0.01
Matica Ent 1566 0.020.01
0.02-0.010.08
0.01
Matica Ent* O 110 0.020.02
0.02-0.000.06
0.01
Mawson ResT 182 0.290.24
0.24-0.050.30
0.16
Mawson Res*O 23 0.220.19
0.22+0.020.25
0.12
Mawson WestT 658 0.010.01
0.01-0.010.05
0.01
0.01-0.000.07
0.00
Maxwell Res*O 40 0.010.01
Maya Gold &Sil V
727
0.15 0.14 0.15 + 0.01 0.30 0.10
Mazarin
V 20 0.020.01
0.02+0.010.04
0.01
McEwen Mng*N
11754 2.632.15
2.21-0.372.78
0.65
McEwen MngT1613 3.462.83
2.88-0.493.58
0.84
MDN Inc V2178 0.060.04
0.05+0.020.06
0.01
827
0.11 0.08 0.09 - 0.01 0.27 0.06
Meadow Bay Gd T
Meadow Bay Gd*O
295
0.09 0.06 0.07 - 0.01 0.20 0.04
N 354 1.921.77
1.79-0.102.64
1.23
Mechel*
Medinah Mnrls*
O3635 0.020.01
0.01-0.000.03
0.01
Mega Uranium*
O 205 0.110.10
0.10-0.010.15
0.04
Mega UraniumT1450 0.150.13
0.14-0.020.20
0.05
0.05+0.010.06
0.01
Melkior Res V 449 0.050.04
Mercator Mnls*
O 20 0.000.00
0.00+0.000.03
0.00
Merrex Gold V 969 0.270.20
0.24-0.030.31
0.10
0.18-0.030.24
0.10
Merrex Gold*O 67 0.200.16
Meryllion Res 67 0.020.02
0.02-0.010.03
0.01
Metalex VentV 790 0.090.07
0.07-0.010.11
0.04
0.20-0.030.23
0.01
Metallis Res V 80 0.220.20
Metals Creek*O 8 0.120.12
0.12-0.000.14
0.05
Metals CreekV 171 0.150.14
0.14+0.010.19
0.05
Metals X* O 8 0.820.82
0.82-0.011.08
0.68
0.09-0.010.13
0.03
Metanor Res V5360 0.100.08
Mexus Gold*O
10577 0.070.04
0.05+0.020.07
0.00
0.03+0.010.04
0.01
Micrex Dev V 382 0.030.02
Midas Gold* O1088 0.610.52
0.57+0.010.66
0.16
Midas Gold T1474 0.770.67
0.71-0.040.84
0.25
0.69-0.030.80
0.45
Midland ExplV 101 0.720.65
Midway Gold*O1173 0.000.00
0.00+0.000.13
0.00
MillenMin VentV 423 0.020.01
0.02+0.020.02
0.01
Millrock Res*O 351 0.310.25
0.25-0.050.35
0.11
Millrock Res V 667 0.400.32
0.32-0.070.45
0.15
Milner Con Slv V
120
0.02 0.02 0.02 + 0.01 0.04 0.02
Minco Gold T 58 0.380.35
0.35-0.030.55
0.12
Minco Gold* X 395 0.300.27
0.28-0.020.40
0.10
Minco Silver T 437 1.241.01
1.04-0.161.48
0.32
Minco Silver*O 131 0.940.78
0.81-0.101.16
0.26
Minera Alamos
V 410 0.130.11
0.12+0.010.18
0.07
Mineral Mtn V 193 0.300.28
0.30+0.010.37
0.08
Mines Manage*
X6065 0.910.62
0.87+0.230.91
0.11
Mines ManageT 54 1.230.77
1.12+0.291.23
0.17
0.02-0.010.05
0.01
Minfocus ExplV 525 0.030.02
0.07-0.010.09
0.07
Minsud Res V 425 0.070.07
Miranda GoldV 529 0.100.09
0.09-0.010.12
0.06
Mirasol Res V 406 1.841.60
1.62-0.171.93
0.72
Molycorp* O1075 0.050.04
0.04-0.000.62
0.02
O 60 0.210.00
0.21+0.070.13
0.04
Monarques Res*
Monarques Res
V2022 0.280.18
0.28+0.090.21
0.06
Moneta Porcpn*
O 151 0.200.17
0.17-0.010.22
0.05
Monster Mng*O 216 0.020.02
0.02-0.190.20
0.01
Montero Mg&Ex
V1695 0.080.00
0.04+0.020.08
0.01
Monument Mng
V 236 0.130.12
0.12-0.010.16
0.08
Morro Bay V 319 0.020.01
0.02+0.010.06
0.01
Mosaic*
N23279 26.8125.61
25.69 -0.2547.13
22.02
Mountain ProvT 538 6.455.91
6.23-0.056.45
3.38
Mountain Prov*
D 161 4.924.67
4.78+0.014.92
2.47
Mundoro Cap*
O 25 0.120.09
0.12+0.010.12
0.03
Mundoro CapV 79 0.150.12
0.13-0.020.18
0.04
Murchison Min 1761 0.030.02
0.03+0.010.03
0.01
0.03-0.010.18
0.00
Myson Group*O 243 0.040.02
N-O
NACCO Ind* N 150
Namibia Rare E T
126
Napier Vent* O 13
Napier Vent V 12
Natural Res Pt* N
171
Nautilus Mnrls*
O 707
Navis Res Corp* O
93
Nemaska Lith*O 645
Nemaska LithV17489
Nevada Clean M*O
562
Nevada Copper
T 381
Nevada Egy Mtl* O 1307
Nevada Egy Mtl V 4684
Nevada Expl * O
313
Nevada Expl V 225
Nevada Sunrise
V1411
Nevada Sunrise*
O 508
Nevada Zinc V 181
Nevado Res V2381
Nevsun Res* X2241
55.0151.33
53.42 +1.6762.96
40.04
0.12 0.08 0.12 + 0.05 0.19 0.04
0.230.23
0.23+0.010.26
0.19
0.290.27
0.27-0.010.34
0.15
11.62 10.43 11.15 - 0.17 43.60 5.00
0.120.10
0.12+0.010.39
0.10
0.01 0.01 0.01 + 0.00 0.03 0.01
1.501.21
1.35+0.131.50
0.13
1.971.48
1.75+0.141.97
0.16
0.02 0.01 0.02 + 0.00 0.05 0.00
0.750.62
0.66-0.091.93
0.45
0.14 0.11 0.12 - 0.01 0.20 0.06
0.18 0.14 0.16 - 0.02 0.26 0.01
0.42 0.34 0.39 + 0.01 0.61 0.08
0.530.44
0.48-0.010.94
0.05
0.280.20
0.25+0.030.33
0.13
0.200.17
0.18+0.010.25
0.09
0.380.33
0.35-0.020.43
0.19
0.030.02
0.02-0.010.05
0.01
3.453.22
3.35+0.014.36
2.27
(100s)
Stock
Week
12-month
New Carolin Gd V 1959
New Carolin Gd* O
177
New Colombia*
O3719
New Dimen Res V
547
New Dimen Res* O
19
New Gold* O 74
New Gold T10386
New Gold* X
27098
New Jersey Mng*O
60
New Milln Iron T 1586
New Nadina V 26
New Pac Metals T
34
NewCastle Gold*
O 69
Newmarket Gold
T4486
Newmarket Gold*
O 557
Newmont Mng*N46190
Newport ExplV 75
V2446
Nexgen Energy
Nexgen Energy*
O 209
25
Next Gen Mtls* O
Next Gen Mtls
791
Nexus Gold V 798
NGEx Res T 360
Nicola Mg Inc* O
33
Nicola Mg Inc V
694
V 391
Nighthawk Gold
Nikos Expl V 261
Niocorp Dev*O 294
Niocorp Dev T 369
Nippon Dragon
V 311
V 203
Nomad Ventures
Noram Vent V5136
Noranda Alum* O
190
Noront Res V 956
North Am Nickl* O
98
North Am Nickl V 1456
North Am Pall T
11
North Am Pall* O
5
82
North Am Ptash V
North Arrow Mn V
152
North Springs* O
46
Northcliff ResT1590
Northern UranV1329
Northisle C&GV1143
Northn EmpireV 469
Northquest V1107
Norvista CapV 318
Nouveau Monde
V 726
NovaCopper*X 599
NovaCopper T 86
NovaGold ResT2165
NovaGold Res*
X
13196
Novo Res V 348
Novo Res* O 246
NRG Metals*O 42
NRG Metals V 441
Nrthn Abitibi V2092
Nrthn Freegold*
O 51
Nrthn Freegold
V 694
O 147
Nrthn Graphite*
Nrthn Graphite
V 146
Nrthn Iron V 80
Nrthn Shield V5986
Nrthn SuperiorV 349
Nrthn Vertex*O 7
NSGold
V 75
Nthn Dynasty*X1386
Nthn DynastyT1037
NuLegacy Gold
V1684
O 504
NuLegacy Gold*
NV Gold* O 20
O.T. Mining* O1768
OceanaGold T10334
OceanaGold*O 26
Oceanic Iron O V
47
Oceanus ResV 111
Oceanus Res*O 24
15
Odin Mng & Exp*O
Odin Mng & Exp V
148
Olivut Res* O 305
Opawica ExplV 437
Orbite Tech T1852
Orbite Tech* O 9
Orca Gold V 266
Orefinders Res
V 460
Oremex SilverV 257
Orezone Gold*
O 513
Orezone GoldV1624
Oriental Non F
50
Orla Mng Ltd V
167
Oro East Mg* Q
133
Oroco Res V 280
Orocobre T 468
Oroplata Res*Q 37
Orosur Mng T 227
Orvana Mnrls*O 208
Orvana MnrlsT 843
Osisko Gold T 2272
Osisko Gold * O
101
Otis Gold* O 135
Otis Gold V 321
Otterburn ResV4603
OZ Minerals*O 51
0.13 0.10 0.10 - 0.03 0.15 0.04
0.10 0.07 0.07 - 0.02 0.12 0.03
0.020.01
0.01-0.000.05
0.00
0.18 0.13 0.16 + 0.02 0.16 0.04
0.14 0.12 0.14 + 0.02 0.12 0.03
0.080.05
0.07+0.000.28
0.03
5.744.85
4.87-0.676.25
2.52
4.373.70
3.73-0.484.85
1.76
0.09 0.08 0.08 - 0.01 0.12 0.02
0.08 0.06 0.06 - 0.02 0.15 0.05
0.160.12
0.12-0.020.30
0.05
0.35 0.33 0.34 - 0.01 0.35 0.15
0.450.00
0.44+0.040.47
0.14
3.953.45
3.48-0.474.00
0.80
3.112.66
2.68-0.293.12
0.61
34.3030.86
31.96 -1.7735.75
15.39
0.330.30
0.33+0.020.45
0.19
2.422.16
2.24-0.132.78
0.51
1.801.66
1.71-0.122.14
0.41
0.11 0.08 0.11 + 0.03 0.14 0.08
0.15 0.13 0.14 + 0.01 0.18 0.01
0.050.05
0.05-0.010.14
0.04
0.940.85
0.94+0.090.96
0.44
0.08 0.06 0.06 - 0.02 0.11 0.03
0.10 0.08 0.09 - 0.02 0.15 0.04
0.190.15
0.17-0.010.19
0.04
0.100.08
0.08-0.010.19
0.02
0.680.61
0.63-0.010.87
0.37
0.850.80
0.83-0.011.14
0.51
0.090.00
0.08+0.010.15
0.03
0.010.01
0.01+0.010.06
0.01
0.050.03
0.05+0.020.07
0.01
0.06 0.04 0.05 - 0.01 14.21 0.02
0.320.30
0.32-0.010.51
0.28
0.07 0.05 0.06 + 0.00 0.20 0.05
0.10 0.07 0.09 + 0.02 0.24 0.07
5.10 4.80 5.00 - 0.09 22.00 3.85
3.90 0.00 3.75 - 0.14 17.20 2.71
0.11 0.00 0.10 - 0.01 0.15 0.03
0.17 0.12 0.17 + 0.02 1.10 0.12
1.00 0.00 0.65 - 0.10 40.00 0.15
0.140.11
0.13-0.010.16
0.06
0.030.02
0.03+0.010.06
0.01
0.070.04
0.07+0.030.07
0.02
0.200.16
0.17-0.010.22
0.06
0.260.24
0.26+0.010.32
0.07
0.190.16
0.17-0.010.24
0.08
0.290.24
0.27+0.020.29
0.12
0.630.50
0.54-0.020.86
0.15
0.820.65
0.70-0.041.08
0.20
7.946.60
6.66-1.168.43
3.42
5.845.03
5.10-0.886.57
2.65
1.290.82
0.86-0.321.30
0.40
0.900.64
0.65-0.281.00
0.29
0.090.00
0.08-0.020.11
0.01
0.130.11
0.11-0.010.18
0.02
0.020.02
0.02-0.010.02
0.01
0.180.14
0.14-0.010.20
0.02
0.230.14
0.15-0.060.28
0.04
0.400.34
0.36-0.010.62
0.12
0.500.45
0.47-0.030.75
0.16
0.020.01
0.02+0.010.04
0.01
0.180.12
0.14-0.030.18
0.01
0.030.03
0.03-0.010.04
0.01
0.330.31
0.32-0.010.33
0.15
0.090.05
0.09-0.010.10
0.03
0.380.31
0.32-0.020.53
0.20
0.460.41
0.43-0.020.67
0.28
0.310.26
0.26-0.040.39
0.08
0.250.20
0.21-0.030.32
0.06
0.020.02
0.02-0.070.11
0.03
0.050.02
0.03-0.020.09
0.02
4.233.92
3.93-0.224.64
1.79
3.203.02
3.14-0.073.66
1.43
0.13 0.12 0.13 + 0.01 0.20 0.08
0.300.25
0.28-0.020.35
0.14
0.220.22
0.22-0.000.26
0.18
0.53 0.44 0.53 + 0.08 0.58 0.17
0.74 0.62 0.65 - 0.09 0.85 0.21
0.150.12
0.15+0.000.17
0.05
0.140.11
0.14+0.030.15
0.02
0.280.27
0.28+0.010.53
0.20
0.210.00
0.21+0.010.40
0.15
0.310.27
0.28-0.020.33
0.12
0.040.04
0.04+0.010.08
0.01
0.040.03
0.04+0.010.06
0.01
0.820.63
0.65-0.110.82
0.16
1.050.82
0.85-0.151.05
0.22
0.31 0.27 0.31 + 0.02 0.30 0.27
0.18 0.14 0.18 + 0.04 0.32 0.07
0.03 0.02 0.03 + 0.00 0.06 0.01
0.040.03
0.03-0.010.05
0.01
4.203.55
4.15+0.373.94
1.33
1.500.25
0.90+0.650.50
0.25
0.210.19
0.19-0.010.24
0.10
0.140.12
0.13-0.010.26
0.07
0.190.17
0.18-0.010.33
0.11
16.5614.77
14.87 -1.5718.64
12.39
12.47 11.32 11.39 - 1.11 14.97 8.88
0.140.11
0.13+0.030.15
0.03
0.180.14
0.18+0.040.19
0.04
1.180.87
1.06+0.061.18
0.87
4.330.00
3.99-0.344.33
2.29
Pac Booker Min V
3
Pac Booker Min* O
4
Pac Imperial V2328
Pac Iron Ore
V
15
Pac North West* O
154
Pac Potash V 71
Pac Ridge Expl* O
51
Pac Ridge Expl V
253
Pac Topaz V 137
V 152
Palamina Corp
Palamina Corp*
O 15
Pan Am Silver* D 13477
Pan Am Silver T 3255
Pancontinental
V 529
Panex Res* O2221
Pangolin Dia V 211
Panoro MnrlsV 94
Parallel Mng V 14
Paramount Gold*
X 176
Paringa Res*O 265
Parlane Res V 45
Passprt Potash*
O 160
Patriot Gold*O 516
Peabody Enrgy* O 2021
Pedro Res V 132
Pelangio Expl*O 6
Pele Mtn Res V 1889
Pele Mtn Res* O
107
Peregrine Diam
T1081
Perseus MngT4969
Pershing Gold*
D1007
Pershing Res*O 60
Peruvian Prc M* O
33
Petaquilla Mnl*
O 324
Pilot Gold* O 676
Pilot Gold T1526
Pine Cliff En* O
46
Pine Cliff En
T
967
Pinecrest ResV 172
Pistol Bay Mng V
195
PJSC Polyus Gd*O
5
Plata Latina V 18
Plate Res V 182
Plateau Uran*O 28
Platinum Gp Mt* X 1339
0.86 0.00 0.86 - 0.06 5.67 0.63
0.65 0.00 0.64 - 0.05 4.39 0.45
0.040.02
0.04+0.020.05
0.01
0.22 0.18 0.22 + 0.04 0.39 0.11
0.05 0.04 0.05 + 0.00 0.06 0.00
0.040.03
0.03-0.010.10
0.03
0.06 0.04 0.04 - 0.03 0.06 0.01
0.07 0.05 0.05 - 0.02 0.10 0.02
0.180.16
0.16-0.010.29
0.06
0.180.15
0.18-0.010.18
0.06
0.140.09
0.14+0.050.13
0.08
14.98 13.46 13.67 - 0.96 16.49 5.38
19.47 17.67 17.83 - 1.44 21.27 7.77
0.040.00
0.03+0.010.04
0.01
0.000.00
0.00+0.000.01
0.00
0.110.09
0.11+0.020.12
0.03
0.200.17
0.18-0.020.21
0.09
0.080.07
0.07-0.010.09
0.05
1.561.43
1.45-0.081.66
0.93
0.150.14
0.15+0.010.25
0.14
0.160.15
0.15-0.020.21
0.01
0.010.00
0.00-0.000.27
0.00
0.110.10
0.11+0.020.15
0.02
0.99 0.77 0.95 + 0.03 52.50 0.55
0.090.08
0.09+0.010.09
0.01
0.040.03
0.04+0.010.04
0.01
0.04 0.03 0.03 - 0.01 0.06 0.03
0.03 0.00 0.03 - 0.00 0.04 0.02
0.200.17
0.19+0.010.31
0.09
0.530.45
0.46-0.070.62
0.27
4.503.93
4.09-0.376.30
3.04
0.030.03
0.03-0.000.15
0.02
0.04 0.03 0.03 - 0.01 0.10 0.02
0.010.01
0.01-0.000.03
0.00
0.580.49
0.51-0.060.64
0.06
0.760.64
0.66-0.090.83
0.22
0.57 0.53 0.54 - 0.03 1.20 0.52
0.71 0.67 0.69 - 0.01 1.51 0.61
0.210.15
0.15-0.050.24
0.03
0.05 0.04 0.04 - 0.01 0.07 0.01
35.75 35.15 35.45 - 0.60 37.59 12.67
0.050.05
0.05-0.010.07
0.01
0.050.04
0.04-0.010.17
0.03
0.240.20
0.21-0.030.40
0.18
3.09 2.78 2.79 - 0.10 4.51 0.96
P-Q
(100s)
Stock
Week
12-month
Platinum Gp Mt T
285
Plato Gold V 206
Playfair Mng V 379
PNG Gold V 166
Polaris MaterT 60
PolyMet Mng*X 559
PolyMet MngT 52
Portage Res*O4972
Portex Mnrls21245
Portofino ResV 110
Potash Corp SK* N 40408
Potash Corp SK T 9616
Potash RidgeT3691
Potash Ridge*O 281
Precipitate GlV1235
Premier Gold M T 3890
Premium Expl*
O 285
Pretium Res*N6724
Pretium Res
T 2420
Primero Mng T4968
Primero Mng*N5393
Prism Res V 33
Probe Metals*O 50
Probe MetalsV 281
Prophecy Coal
T 292
O 136
Prophecy Coal*
Prospect Glob*
O 19
Prosper GoldV 228
PUF Vent Inc * O
82
Puma Expl V 274
Pure Energy*O1315
Pure Energy V 5366
Pure Gold Mg* O
452
Pure Gold Mg V 5437
QMX Gold* O 425
QMX Gold V1351
Quaterra ResV 465
Quaterra Res*O 246
Quest Rare Mnl* O
7
Quest Rare Mnl T
300
Quinto Real V
157
3.92 3.63 3.65 - 0.12 5.50 1.35
0.010.01
0.01-0.010.02
0.01
0.060.05
0.05-0.010.08
0.02
0.010.01
0.01-0.010.01
0.01
1.401.26
1.35-0.052.75
1.12
0.840.79
0.83+0.021.33
0.55
1.081.04
1.08+0.011.71
0.76
0.000.00
0.00+0.000.01
0.00
0.010.00
0.01-0.010.01
0.01
0.080.07
0.07-0.010.13
0.06
17.18 16.21 16.57 + 0.04 32.39 14.64
22.23 21.30 21.59 - 0.09 40.47 20.03
0.330.26
0.32+0.020.50
0.03
0.270.21
0.24+0.010.38
0.02
0.300.20
0.27+0.060.29
0.06
3.32 2.78 2.82 - 0.50 3.80 1.65
0.010.00
0.01+0.000.04
0.00
7.987.01
7.04-1.018.74
4.00
10.64 9.15 9.17 - 1.42 11.25 5.57
2.502.16
2.17-0.265.51
1.94
1.931.65
1.66-0.194.49
1.41
0.150.11
0.15+0.040.15
0.04
0.620.58
0.60-0.020.72
0.24
0.830.77
0.77-0.030.94
0.33
0.020.02
0.02+0.010.08
0.01
0.020.02
0.02-0.000.06
0.01
0.070.00
0.07-0.010.20
0.02
0.280.24
0.25-0.030.36
0.06
0.02 0.02 0.02 - 0.00 0.05 0.01
0.080.06
0.08+0.010.13
0.03
0.470.39
0.43-0.020.91
0.18
0.60 0.47 0.56 - 0.03 1.15 0.21
0.51 0.44 0.46 - 0.04 0.51 0.01
0.72 0.55 0.60 - 0.12 0.72 0.07
0.060.05
0.05-0.000.08
0.01
0.080.06
0.06-0.020.11
0.01
0.080.07
0.07-0.010.15
0.05
0.060.05
0.05-0.000.11
0.04
0.14 0.12 0.14 + 0.00 0.20 0.03
0.18 0.16 0.17 - 0.01 0.25 0.06
0.11 0.07 0.08 - 0.01 0.16 0.01
Rackla Mtls V 159
Radisson MngV 327
Rainforest Res*
O 19
Rambler Ml &Mg V
267
Randgold Res* D 4077
Rapier Gold V 126
Raptor Res* O 41
Rare Element*O 374
RB Energy* O 618
Red Eagle Mng* O
328
Red Eagle Mng V 2593
Red Hut
V 161
5
Red Moon Potsh V
Red Pine Expl V
580
Redhawk ResT 22
Redstar GoldV 281
Regulus Res V1143
Reliant Gold V 150
O 53
Renaissance Gd*
Renaissance Gd
V 56
Reservoir Mnls*
O 107
V1038
Reservoir Mnls
Resolve VentV 83
Resource CapV 44
Revolver ResV 9
Rheingold Expl 445
Rhyolite Res V 12
Richmont Mines T 1468
X2173
Richmont Mines*
Rio Novo Gold* O
174
Rio Novo Gold T
285
Rio Silver V 163
Rio Tinto* O 5
Rio Tinto* N19177
Rise Res Inc
42
O 43
Riverside Res*
Robex Res V 427
Rochester Res
V 19
Rock Tech Lith* O
9
Rockcliff CopV 595
Rockex Mng 58
V 243
Rockhaven Res
V 148
Rockland Mnls
Rockridge Cap
V 141
Rockwell Diam*
O 104
Rockwell Diam
T 77
Rojo Res V 47
Rojo Res* O 6
Romios Gold Rs V
215
Romios Gold Rs*O
2
Romulus ResV 7
RosCan MrnlsV 99
Rouge Res V 318
Roughrider Exp
V 84
Roxgold* O 267
Roxgold
V3101
Royal Gold T 97
Royal Gold* D 3932
Royal Nickel*O 51
Royal Nickel T4582
Royal Std Mnrl* O
323
RT Minerals V 315
Rubicon Mnrls*
O1777
Rubicon MnrlsT 997
Rugby Mng V 191
Running Fox Rs V
37
Rupert Res V 350
Rusoro Mng*O 102
Rusoro Mng V 430
Rye Patch Gold* O
549
Rye Patch Gold V 1393
0.080.00
0.06-0.020.13
0.05
0.140.12
0.13-0.010.16
0.09
1.500.00
1.50+0.501.50
0.30
0.08 0.00 0.08 + 0.02 0.25 0.05
89.32 82.85 83.51 - 5.81 101.60 54.88
0.100.06
0.06-0.040.10
0.02
0.000.00
0.00-0.000.00
0.00
0.110.09
0.09+0.000.64
0.06
0.010.00
0.00-0.000.01
0.00
0.62 0.46 0.51 - 0.07 0.91 0.18
0.77 0.56 0.66 - 0.11 0.89 0.25
0.080.07
0.08-0.010.15
0.01
0.03 0.00 0.03 - 0.01 0.05 0.02
0.09 0.08 0.09 + 0.01 0.13 0.03
0.040.04
0.04+0.010.10
0.04
0.050.05
0.05-0.010.07
0.03
1.050.62
0.93+0.231.05
0.19
0.030.02
0.02-0.010.04
0.01
0.320.24
0.25-0.040.38
0.08
0.410.32
0.33-0.070.48
0.11
6.816.29
6.61+0.067.46
2.25
8.718.25
8.60+0.039.35
3.26
0.200.18
0.18-0.010.30
0.04
0.060.00
0.06+0.010.08
0.02
0.180.17
0.17-0.010.23
0.07
0.040.03
0.04+0.010.05
0.01
0.170.13
0.17+0.040.18
0.09
10.98 9.18 9.65 - 1.33 11.54 3.14
8.607.01
7.38-1.008.97
2.27
0.12 0.00 0.12 + 0.01 0.12 0.06
0.16 0.14 0.16 + 0.01 0.16 0.07
0.040.04
0.04+0.010.05
0.01
29.5727.95
28.35 +0.4044.18
21.90
29.7427.86
28.73 +0.4245.00
21.89
0.15 0.13 0.15 + 0.02 0.20 0.11
0.240.21
0.21-0.020.27
0.08
0.140.13
0.13-0.010.17
0.05
0.050.00
0.05+0.010.08
0.03
0.25 0.19 0.19 - 0.06 0.27 0.02
0.050.04
0.04-0.010.06
0.02
0.300.00
0.20-0.010.75
0.01
0.190.17
0.17-0.010.24
0.10
0.080.07
0.07-0.010.11
0.01
0.070.06
0.06-0.010.08
0.05
0.080.06
0.06-0.020.20
0.05
0.100.09
0.09-0.020.25
0.07
0.100.08
0.08-0.030.14
0.04
0.080.06
0.06-0.020.09
0.03
0.08 0.07 0.08 + 0.01 0.08 0.02
0.07 0.05 0.07 + 0.00 0.07 0.01
0.160.08
0.08-0.090.16
0.07
0.010.01
0.01+0.010.01
0.01
0.420.34
0.35-0.060.48
0.03
0.130.09
0.12+0.010.16
0.05
0.920.81
0.86-0.071.10
0.42
1.271.06
1.14-0.081.44
0.54
73.9069.19
71.77 -1.0281.52
35.46
57.3852.69
55.02 -0.4365.79
24.68
0.370.00
0.34-0.000.50
0.10
0.470.41
0.44-0.030.63
0.12
0.00 0.00 0.00 - 0.00 0.00 0.00
0.290.22
0.25-0.040.30
0.05
0.040.03
0.04+0.001.20
0.01
0.050.05
0.05-0.011.49
0.02
0.170.15
0.15-0.020.25
0.03
0.03 0.02 0.02 - 0.01 0.03 0.01
0.670.58
0.58-0.060.67
0.02
0.130.00
0.11+0.020.11
0.02
0.160.12
0.14+0.020.15
0.03
0.22 0.18 0.21 + 0.02 0.23 0.08
0.28 0.22 0.26 + 0.03 0.28 0.11
Sabina Gd&Slvr*
O1450
Sabina Gd&Slvr
T7308
Sage Gold* O 113
Saint Jean* O 37
Saint Jean V1036
Salazar Res V1371
Sama Res V 37
Samco Gold V 63
Samex Mng*O 283
234
San Gold Corp* O
San Marco Res V
287
Sanatana Diam
V 855
Sandspring Res*
O 431
Sandspring Res
V 587
Sandstorm Gold
T8924
Sandstorm Gold*
X5999
Santa Fe Gold* O 2921
Santacruz SilvV 1150
Sarama Res V 733
Satori Res V 45
Saturn Mnrls V4457
Savant Expl V 26
Scandium Int M* O
545
Scientific MtsV5841
ScoZinc Mg V 1
Seabridge GldT 622
Seabridge Gld*N 5307
Search Mnls V 277
Searchlight* O 315
Sego Res V 75
Select SandsV 253
Semafo
T10491
Senator MnrlsV 27
1.291.03
1.09-0.171.55
0.24
1.681.36
1.43-0.211.87
0.32
0.060.05
0.06-0.010.07
0.03
0.050.05
0.05-0.000.05
0.01
0.060.05
0.06+0.010.07
0.01
0.120.00
0.09-0.030.16
0.03
0.110.10
0.10-0.010.20
0.07
0.080.00
0.08-0.010.35
0.02
0.000.00
0.00-0.000.00
0.00
0.00 0.00 0.00 - 0.00 0.01 0.00
0.09 0.08 0.08 - 0.01 0.10 0.02
0.020.01
0.01-0.010.05
0.01
0.400.33
0.34-0.050.51
0.08
0.520.43
0.44-0.070.63
0.11
5.444.51
4.55-0.675.83
2.82
4.073.47
3.49-0.444.52
1.94
0.00 0.00 0.00 - 0.00 0.12 0.00
0.49 0.370.40 -0.07 0.630.09
0.160.13
0.13-0.030.20
0.05
0.080.07
0.08+0.010.15
0.02
0.120.09
0.11+0.020.22
0.09
0.020.01
0.01-0.010.02
0.01
0.13 0.12 0.12 - 0.00 0.17 0.06
0.130.09
0.13+0.030.12
0.01
0.580.00
0.58-0.031.25
0.40
18.0215.42
15.67 -1.6819.934.34
14.1411.75
12.03 -1.1715.503.31
0.090.06
0.07-0.020.11
0.04
0.090.08
0.08-0.000.42
0.06
0.040.03
0.03-0.010.05
0.01
0.280.23
0.23-0.060.50
0.20
5.554.83
4.93-0.596.01
2.46
0.390.23
0.38+0.080.37
0.03
R
S
2016-05-31 3:56 PM
10
(100s)
Stock
Week
12-month
Serengeti ResV 225
Sherritt Intl T2236
Sibanye Gold*N 7057
O 640
Sidney Resrces*
Sienna Res V5984
Sienna Res* O 302
Sierra Iron Or V
39
31
Sierra Iron Or* O
Sierra Metals*O 10
Sierra MetalsT 28
Signature ResV 266
Silver Bear Rs T
563
Silver Bull Re* O
763
767
Silver Bull Re T
Silver Dragon*O 172
Silver Grail V 72
9
Silver Mtn Mns* O
Silver PredatrV 68
Silver PursuitV 83
Silver Range V 151
Silver Shield 208
Silver Std Res T 2952
Silver Std Res* D 9032
Silver Stream*O 160
Silver WheatonT 6828
Silver Wheaton*
N24221
Silvercorp MetT3828
Silvercorp Met*
O1344
Silvermet V 170
SinoCoking Cl*
D 148
Sirios Res* O 240
Sirios Res V1064
Skeena Res V 289
Sky Ridge V 182
Slam Explor V 143
SnipGold V 193
Solitario Ex&RT 124
Solitario Ex&R*
X 334
159
Sonora Gld & S V
Sonoro Mtls V1480
Sonoro Mtls*O1406
Southern Arc*O 12
Southern Copp*
N 6046
Southern SilvrV1473
Southern Silvr*
O 342
Spada Gold V 3
Spanish Mtn Gd* O
141
Sparton Res V 846
Sparton Res*O 82
V10004
Spearmint Res
Spruce Ridge R V
17
Squire Mg Ltd
89
St Augustine T 282
Stakeholdr Gld*
O 5
V 45
Stakeholdr Gld
Standard Graph*
O 5
Standard Graph
V1143
Standard Metal*
O 99
Standard TollV11858
Stans EnergyV 803
Stans Energy*O 103
Starcore Intl T 517
Sterling Grp*O 521
Stillwater Mg* N 6675
Stina Res 412
Stina Res* O 84
Stockport Expl
V 66
0.090.07
0.08+0.010.11
0.02
0.800.72
0.73-0.052.64
0.53
12.4711.28
11.53 -0.8216.634.07
0.010.01
0.01-0.010.02
0.00
0.180.15
0.15-0.020.19
0.01
0.130.12
0.12-0.010.15
0.01
0.37 0.31 0.37 + 0.06 0.62 0.22
0.28 0.25 0.25 - 0.01 0.42 0.15
1.271.06
1.09-0.111.40
0.69
1.671.37
1.41-0.231.80
0.84
0.090.06
0.06-0.010.08
0.01
0.18 0.15 0.16 - 0.02 0.21 0.02
0.09 0.09 0.09 - 0.00 0.15 0.02
0.13 0.11 0.12 - 0.01 0.18 0.04
0.030.02
0.02-0.000.05
0.01
0.100.09
0.10+0.020.11
0.02
0.01 0.01 0.01 - 0.01 0.02 0.02
0.030.03
0.03-0.010.04
0.01
0.070.07
0.07+0.010.13
0.02
0.160.12
0.13-0.020.18
0.02
0.140.11
0.12-0.020.17
0.01
12.79 11.29 11.35 - 1.34 12.96 5.28
9.81 8.62 8.71 - 0.96 10.06 3.66
0.010.01
0.01+0.000.04
0.00
25.3523.44
23.74 -1.3826.46
14.51
19.4117.87
18.20 -0.9321.14
10.04
2.882.20
2.23-0.653.10
0.60
2.201.68
1.70-0.432.45
0.41
0.040.04
0.04+0.010.09
0.02
0.430.33
0.38+0.052.44
0.26
0.330.30
0.33-0.000.39
0.07
0.440.40
0.41-0.010.51
0.07
0.090.08
0.08-0.010.13
0.06
0.300.26
0.26-0.010.30
0.03
0.060.05
0.06+0.010.12
0.01
0.290.24
0.26-0.010.30
0.04
0.630.00
0.61-0.020.95
0.57
0.500.45
0.47-0.010.81
0.40
0.06 0.04 0.04 - 0.02 0.08 0.01
0.100.07
0.07-0.030.16
0.04
0.060.04
0.06-0.010.12
0.03
0.360.29
0.36+0.070.41
0.17
27.3726.17
26.61 -0.0931.35
21.55
0.290.21
0.25-0.020.32
0.03
0.210.17
0.19-0.020.24
0.02
0.300.20
0.20-0.100.60
0.20
0.07 0.07 0.07 - 0.00 0.08 0.01
0.040.03
0.04+0.010.05
0.01
0.030.02
0.03+0.010.04
0.00
0.040.03
0.04-0.010.05
0.01
0.05 0.04 0.05 + 0.02 0.06 0.01
0.19 0.11 0.11 - 0.08 0.19 0.10
0.130.12
0.12-0.010.14
0.07
0.420.35
0.35-0.050.46
0.05
0.590.46
0.50-0.011.00
0.04
0.050.05
0.05+0.010.06
0.00
0.070.06
0.06-0.010.08
0.01
0.210.13
0.16+0.010.94
0.01
0.020.01
0.01+0.010.15
0.01
0.030.02
0.02-0.010.07
0.01
0.020.01
0.02-0.000.06
0.01
0.800.67
0.70-0.080.89
0.25
0.040.03
0.04+0.010.04
0.01
10.35 9.40 9.77 - 0.11 14.75 4.99
0.160.15
0.15-0.010.19
0.11
0.130.11
0.11-0.020.20
0.06
0.030.03
0.03-0.010.05
0.01
(100s)
Stock
Week
12-month
Stonegate Agri*
O 8
Stonegate Agri
T 651
T2035
Stornoway Diam
Stratabd MnrV 434
Strategic MetlV 401
Stratton Res V 20
Strikepoint GdV 112
O 3
Strikepoint Gd*
Strongbow Expl
V 286
Stroud Res V 477
Sulliden MngT 442
Suncor EnergyT15552
Suncor Energy*N20141
Sunridge Gold*
O1638
Sutter Gold* O 56
Sutter Gold V 182
Syrah Res* O 30
0.020.01
0.01-0.000.03
0.00
0.030.02
0.02-0.010.04
0.01
0.980.95
0.98+0.011.08
0.65
0.020.01
0.01-0.010.02
0.01
0.480.41
0.42-0.050.50
0.24
0.240.23
0.24+0.010.30
0.07
0.250.21
0.21-0.030.75
0.05
0.190.16
0.19+0.030.19
0.08
0.150.14
0.14-0.010.23
0.05
0.010.01
0.01-0.010.01
0.01
0.400.38
0.39-0.010.45
0.19
36.0034.32
35.90 +1.4040.35
27.32
27.8225.98
27.54 +1.2430.70
18.71
0.150.01
0.03-0.020.29
0.01
0.090.05
0.07-0.020.13
0.02
0.110.07
0.07-0.040.16
0.04
3.833.50
3.76-0.074.01
1.81
Tahoe Res T 5601
Tahoe Res* N 9008
Taku Gold 17
Tantalex Res 686
Tanzania RltyT 96
Tanzania Rlty*X 840
Tartisan Res 478
Tasca Res V 40
Taseko Mines*X 576
Taseko MinesT 183
Tasman Metals*
O 86
Tasman Metals
V 105
Teck Res
T 9
Teck Res*
N 38485
Teck Res
T21908
TECO Enrgy* N 9313
Telson Res *
O
23
Tembo Gold*O 18
Tembo Gold V 631
Teranga GoldT10219
Teras Res V 178
Terraco Gold V 496
Terrax Mnrls*O 39
Terrax Mnrls V 910
Teryl Res Corp* O
60
Teslin Rvr Res V 1323
Teuton Res V 662
Teuton Res* O 55
Themac Res V 43
O1046
Thompson Creek*
Thompson Creek
T 988
Thunder Mtn Gd*O
186
ThunderstruckV1072
Till Capital* D 13
Timberline Res
V 214
Timberline Res*
O 310
Timmins GoldT10883
Timmins Gold*X6535
Tinka Res* O 125
Tinka Res V 455
Tintina Res V 76
Tirex Res V 117
Tirex Res* O 49
Titanium CorpV 99
TMAC Resource*O
34
TMAC Resources
T 188
Tolima Gold V4913
16.4215.30
15.37 -0.7518.659.45
12.7611.66
11.81 -0.5215.146.48
0.150.08
0.08-0.060.22
0.02
0.040.03
0.04+0.010.07
0.01
0.660.55
0.56-0.100.76
0.24
0.500.40
0.43-0.070.57
0.17
0.040.04
0.04-0.010.07
0.01
0.060.00
0.06+0.020.06
0.01
0.520.45
0.50+0.010.73
0.23
0.660.62
0.66+0.020.91
0.35
0.210.17
0.18-0.000.68
0.06
0.270.23
0.25+0.010.84
0.09
15.1814.06
14.08 -1.0117.505.69
10.17 9.20 9.53 - 0.32 12.57 2.56
13.3012.08
12.43 -0.5015.683.65
27.6327.49
27.53 +0.0427.83
17.60
0.17 0.00 0.17 + 0.06 0.17 0.07
0.030.02
0.03+0.010.03
0.01
0.040.03
0.03-0.010.04
0.01
1.080.89
0.89-0.191.18
0.38
0.160.14
0.16+0.010.16
0.03
0.140.12
0.14-0.010.15
0.07
0.260.25
0.26-0.000.32
0.17
0.370.33
0.34-0.010.43
0.23
0.01 0.01 0.01 - 0.01 0.01 0.00
0.37 0.35 0.36 - 0.01 0.43 0.20
0.280.19
0.27-0.010.33
0.04
0.220.15
0.20-0.020.25
0.03
0.060.05
0.06+0.010.06
0.01
0.370.32
0.33-0.021.13
0.07
0.460.41
0.43-0.031.43
0.16
0.09 0.06 0.06 - 0.03 0.15 0.02
0.030.02
0.02-0.010.06
0.01
3.280.00
3.10+0.076.23
2.76
0.400.28
0.40+0.070.84
0.16
0.340.21
0.30+0.060.78
0.08
0.420.30
0.32-0.090.85
0.11
0.320.23
0.25-0.060.68
0.07
0.200.17
0.19-0.010.24
0.07
0.260.22
0.22-0.020.29
0.09
0.090.08
0.09-0.010.11
0.04
0.130.10
0.12+0.010.24
0.07
0.100.08
0.09+0.010.19
0.05
0.400.35
0.36-0.041.55
0.31
10.92 9.92 10.68 + 0.56 10.92 9.26
14.1513.00
13.90 +0.6314.154.85
0.030.01
0.02+0.010.01
0.01
T
(100s)
Stock
Week
12-month
TomaGold V 196
Tonogold Res*O 62
Torex Gold* O 438
Torex Gold T14409
Tower Res V 44
V 630
Transatlan Mng
Transition MtlV 333
Treasury MetalT 257
Trecora Res* N 149
Trevali Mng* O 539
Trevali Mng T6047
Tri Origin Exp V
779
O 184
TriMetals Mng*
TriMetals Mng*
O 224
TriMetals MngT 641
TriStar Gold* O 100
TriStar Gold V 74
Troy Res* O 38
Troymet ExplV4787
True North Gem V 3207
Tudor Gold V 218
O2308
Tungsten Corp*
Turquoise HIl*N9473
Turquoise HIlT6237
TVI Pacific* O 41
Tyhee Gold* O 41
0.100.08
0.08-0.020.10
0.04
0.030.01
0.03+0.010.08
0.01
1.541.35
1.42-0.121.89
0.67
2.021.78
1.83-0.192.32
0.85
0.050.04
0.04-0.010.07
0.01
0.060.04
0.04-0.030.15
0.04
0.130.12
0.13+0.010.18
0.06
0.520.47
0.48-0.020.62
0.32
11.3810.45
11.34 +0.7316.508.17
0.390.34
0.34-0.020.84
0.18
0.490.44
0.45-0.031.06
0.25
0.05 0.05 0.05 - 0.01 0.07 0.02
0.250.20
0.24-0.000.27
0.03
0.240.20
0.22-0.030.32
0.06
0.320.27
0.31-0.010.36
0.04
0.260.25
0.26+0.020.28
0.10
0.320.00
0.30-0.020.38
0.10
0.500.42
0.44-0.080.56
0.13
0.040.03
0.03-0.010.05
0.01
0.12 0.10 0.10 - 0.01 0.20 0.07
1.110.95
0.99-0.091.26
0.03
0.000.00
0.00+0.000.00
0.00
2.962.71
2.81+0.044.43
1.55
3.833.58
3.65+0.035.51
2.30
0.020.02
0.02-0.000.03
0.00
0.010.00
0.01+0.010.03
0.00
Ucore Rare Mtl* O
319
Ucore Rare Mtl V 1298
UEX Corp T1147
Ultra Lithium*O 34
Ultra Lithium V 290
Umbral Enrgy 8808
V 296
Unigold
Unigold* O 30
United Res Hdg* O
59
205
United States A* X
United States S* N 74252
Unity Energy V 208
Ur-Energy* X 747
Ur-Energy T 180
Uracan Res* O1043
Uragold Bay Rs V
879
Uranium Energy*
X2466
O1399
Uranium Hunter*
Uranium Res* D
217
US Energy* D 382
US Rare Earths* O
79
Vale*
N
40305
Valterra Res V 155
Vanadiumcorp*
O 175
VanadiumcorpV 415
Vantex Res V 555
Vedanta*
N 634
Vendetta MngV 133
Venture Mnrls*O 61
Verde PotashT 108
Verde Res* O 25
Veris Gold* O 381
Victoria GoldV6525
Victory Nickel*O 40
Victory Res V 287
Virginia Enrgy*
O 25
Viscount MngV 376
Visible Gold M V 1542
0.31 0.26 0.30 + 0.02 0.35 0.15
0.41 0.35 0.38 + 0.03 0.44 0.20
0.240.22
0.22-0.020.29
0.11
0.220.18
0.18-0.030.27
0.06
0.290.24
0.29+0.010.35
0.05
0.060.04
0.06+0.020.07
0.02
0.350.29
0.33-0.010.42
0.08
0.310.25
0.25-0.060.31
0.06
0.04 0.04 0.04 + 0.01 0.11 0.01
0.28 0.23 0.25 - 0.01 0.93 0.16
15.35 13.00 14.38 + 1.02 26.95 6.15
0.300.21
0.28+0.050.48
0.05
0.490.45
0.46+0.010.93
0.44
0.640.60
0.62+0.021.16
0.60
0.040.02
0.03-0.000.04
0.00
0.16 0.14 0.14 - 0.02 0.23 0.02
0.790.70
0.77+0.053.00
0.65
0.000.00
0.00+0.000.00
0.00
1.63 1.39 1.49 - 0.04 16.56 1.46
0.380.35
0.36+0.011.04
0.11
0.15 0.05 0.15 + 0.02 1.83 0.01
3.563.07
3.14-0.065.86
1.55
0.020.02
0.02-0.010.02
0.01
0.040.04
0.04+0.000.05
0.01
0.050.04
0.05+0.010.05
0.02
0.040.03
0.04+0.010.04
0.01
6.22 5.71 6.12 + 0.25 12.663.52
0.100.09
0.09-0.010.17
0.05
0.040.03
0.04-0.000.04
0.01
0.370.30
0.37+0.050.48
0.13
0.050.05
0.05-0.010.15
0.05
0.010.00
0.00-0.000.03
0.00
0.510.41
0.44-0.040.54
0.11
0.020.02
0.02-0.010.06
0.01
0.050.04
0.04-0.010.09
0.02
0.050.03
0.04-0.010.08
0.02
0.640.51
0.64+0.060.63
0.16
0.04 0.00 0.04 - 0.01 0.09 0.02
U-V
(100s)
Stock
Week
12-month
X3030
T 298
V 185
V1639
0.24
0.67-0.120.89
0.840.65
0.31
0.85-0.201.15
1.100.85
0.03
0.34+0.090.52
0.340.25
0.01
0.03+0.010.04
0.030.02
T 365
Wallbridge Mng
O 726
Walter Energy*
WCB Res V 360
Wealth Mnrls*O 450
Wealth MnrlsV2609
O 103
Wellgreen Plat*
Wellgreen PlatT 301
T2518
Wesdome Gold
153
V
West Af Res
69
West High Yld V
West KirklandV 641
790
West Red Lake
50
West Red Lake* O
X 123
Western Copper*
T 318
Western Copper
22
Western Pac Rs* O
160
Western Troy C V
Western Uran 10
Western Uran*O 18
O 10
Westhaven Vent*
V2479
Westkam Gold
O 163
Westkam Gold*
V2974
Westminster Rs
Westmoreland*D 1532
Whistler GoldV 5
70
White Mtn Engy* O
Wildcat Expl V 47
Wolfden Res V 664
V 721
Wolverine Mnls
V 17
Worldwide Res
WPC Res V 752
X-Terra Res V 736
Xander Res V 54
Ximen Mng V 446
Ximen Mng* O 100
XLI Tech Inc* O 1046
V 251
Xtierra
O 36
Xtra-Gold Res*
Xtra-Gold ResT 365
Yamana GoldT31524
65232
Yamana Gold*N
Yanzhou Coal*N 56
Yorbeau Res T1189
Zadar Vent V1074
Zazu Metals*O 109
Zazu Metals T 30
Zenyatta VentV 63
O 17
Zenyatta Vent*
Zephyr Mnls V 51
Zimtu CapitalV 131
Zincore Mtls V 7
Zonte Mtls V 131
0.02
0.09-0.010.10
0.100.08
0.01
0.08+0.010.51
0.090.06
0.02
0.05+0.010.15
0.060.04
0.10
0.60+0.090.71
0.710.47
0.14
0.84+0.190.92
0.920.60
0.12
0.22-0.010.35
0.240.21
0.16
0.29-0.010.43
0.320.28
0.89
1.65-0.011.82
1.741.55
0.20 0.16 0.17 - 0.04 0.22 0.05
0.25 0.22 0.25 + 0.03 0.41 0.17
0.04
0.10-0.020.14
0.120.09
0.28 0.22 0.25 - 0.01 0.34 0.01
0.21 0.18 0.18 - 0.02 0.25 0.02
0.20
0.60+0.020.66
0.620.56
0.29
0.80+0.050.87
0.800.73
0.01 0.01 0.01 - 0.00 0.02 0.00
0.04 0.03 0.04 + 0.01 0.05 0.01
1.20
1.55-0.055.00
2.161.53
1.19
1.20+0.001.80
1.451.19
0.10
0.11+0.000.12
0.110.11
0.02
0.04-0.010.06
0.050.04
0.01
0.04+0.000.05
0.040.03
0.01
0.10-0.020.18
0.140.09
8.53 7.46 8.13 + 0.48 28.423.44
0.01
0.02-0.010.02
0.020.00
0.10 0.09 0.10 + 0.01 0.46 0.07
0.02
0.09+0.010.16
0.130.09
0.05
0.13-0.010.15
0.140.12
0.08
0.15+0.030.38
0.150.02
0.01
0.03-0.010.06
0.040.00
0.03
0.08-0.020.12
0.100.08
0.06
0.25+0.100.22
0.250.12
0.19
0.42-0.020.46
0.440.40
0.02
0.08-0.010.15
0.100.08
0.01
0.08+0.010.11
0.080.07
0.09 0.07 0.09 - 0.00 1.50 0.07
0.01
0.02-0.010.04
0.030.02
0.12
0.36+0.010.38
0.360.32
0.18
0.47+0.010.50
0.470.42
1.89
5.44-0.786.70
6.355.35
1.38
4.17-0.555.19
4.744.08
3.66
5.27+0.319.54
5.324.92
0.06
0.09+0.010.17
0.090.08
0.01
0.22-0.010.26
0.260.21
0.08
0.18-0.020.24
0.220.17
0.09
0.23+0.010.33
0.240.22
0.63
0.80-0.052.50
0.850.80
0.47
0.64+0.011.99
0.640.60
0.08
0.25+0.060.24
0.250.19
0.12
0.18+0.010.34
0.180.17
0.01
0.02+0.010.03
0.020.01
0.02
0.07-0.020.15
0.090.07
Vista Gold*
Vista Gold
Voltaic Min
VVC Expl
W-Z
BID-ASK — MAY 23–27, 2016
STOCK
37 Capital One
Acme Res Corp
Adex Mining
Advance Gold
Afrasia Mnls
African Metals
Aftermath Slvr
Aida Minerals
Alberta Star
Alderon Iron*
Aldershot Res
Alexandra Cap
Allante Potash
Almo Capital
Alpha Nat Res*
Amanta Res
Anglo Pac Grp
Anthem United
APAC Res Inc
Apple Cap Inc
Arak Res
Arch Coal*
Archon Mineral
Arcturus Vents
Ardonblue Vent
Arrowhead Gold
Arrowstar Res
Artha Res
Asbestos Corp Asher Res
Asia Now Res
Ateba Res
Atlantic Ind
Atlatsa Res*
Banks Island
BC Moly
BCGold
BE Res
Bearing Res
Benz Cap
BHK Mining
Big Bar Res
Bird River Res
Black Bull Res
BlackEagle Dev
Bluenose Gold
Boss Power
Carrie Arran
Cascade Res
Cassidy Gold
Cataca Res*
Cdn Platinum
Celeste Mng
Celtic Minrls
Chantrell Vent
Chimata Gold
Chinapintza Mg
Claim Post Res
Cliffs Nat Res*
Clydesdale Res
CMX Gold & Sil
Comet Inds
Compliance Egy
Contintl Prec
Copper Lake Rs
Copper Reef Mg
Cougar Mnls
Crestwell Res
Cresval Cap
Cricket Res
CWN M’g Acq
Cyprium Mng
Damara Gold
Delrand Res
Deveron Res
DGS Mnls
DV Resources
E-Energy Vent
Enfield Expl
European Metal
Fire River Gol
Firesteel Res
First Idaho
Freeport Res
G4G Res
GAR Limited
GFM Res
12-MONTH
EXC BID ASK LASTHIGH
C
V
V
V
V
V
V
C
V
X
V
C
V
V
N
V
T
V
C
V
V
N
V
V
V
C
V
V
V
V
V
C
V
X
V
V
V
V
V
V
V
V
C
V
C
V
V
V
V
V
O
V
V
C
V
V
V
V
N
V
C
V
V
T
V
C
V
C
V
V
V
V
V
V
V
C
V
V
C
C
V
V
V
V
V
C
V
0.12
0.40
0.01
0.03
0.01
0.02
0.04
0.05
0.03
0.08
0.06
0.10
...
0.01
0.06
0.15
0.20
0.22
...
0.40
0.03
0.04
0.03
...
0.02
0.10
0.09
0.16
0.23
0.24
0.01
0.02
1.48
2.50
0.16
0.21
0.03
0.10
0.02
0.06
0.04
0.04
...
...
1.71
1.90
0.01
0.02
0.05
0.09
0.01
...
0.05
0.06
0.13
0.15
0.18
0.30
0.01
0.02
0.01
0.02
...
0.01
...
0.01
...
...
0.01
0.01
0.05
0.10
0.050.07
...
0.34
0.01
0.05
0.03
0.04
0.03
0.04
0.08
0.50
...
0.07
...
0.01
0.03
...
0.01
0.03
0.17
0.20
0.05
...
0.02
0.04
0.01
0.02
...
...
0.01
0.02
...
0.01
...
...
0.09
0.20
0.03
0.04
0.01
0.02
0.03
0.03
1.45
3.20
0.01
0.02
...
0.10
1.32
1.75
0.03
0.03
0.33
0.38
0.04
0.04
0.02
0.03
0.01
0.01
0.04
0.10
0.04
0.05
0.01
0.04
0.13
0.50
0.08
0.08
0.05
0.10
0.50
0.60
0.20
0.22
0.04
0.09
0.03
0.04
...
0.01
...
...
...
0.01
0.03
0.07
0.02
0.02
0.07
0.14
0.01
0.02
0.06
0.10
0.03
0.04
0.02
0.10
0.20
0.20
0.02
0.04
0.02
0.02
0.04
0.06
0.03
0.05
0.06
0.11
0.01
0.03
0.15
0.23
0.20
0.23
0.14
0.52
0.04
0.04
0.03
0.03
0.01
0.06
0.09
0.14
0.24
4.16
0.01
1.48
2.05
0.16
0.46
0.03
0.11
0.09
0.09
0.04
0.09
0.58
15.00
1.71
2.10
0.02
0.02
0.05
0.07
0.03
0.07
0.05
0.11
0.12
0.20
0.16
0.30
0.02
0.05
0.02
0.03
0.01
0.01
0.01
0.01
0.06
0.45
0.01
0.17
0.05
0.23
0.05 0.13
0.35
0.03
0.03
0.12
0.04
0.10
0.10
0.10
0.06
0.07
0.01
0.03
0.03
0.01
0.03
0.17
0.19
0.05
0.07
0.02
0.05
0.02
0.04
0.20
0.51
0.01
0.02
0.01
0.01
0.01
0.09
0.14
0.04
0.13
0.01
0.01
0.03
0.03
1.43
7.17
0.01
0.08
0.10
0.10
1.32
1.75
0.03
0.25
0.33
0.45
0.04
0.09
0.03
0.04
0.05
0.08
0.13
0.15
0.05
0.06
0.01
0.04
0.13
0.44
0.08
0.19
0.05
0.13
0.60
0.60
0.24
0.31
0.04
0.06
0.03
0.06
0.01
0.01
0.01
0.01
0.01
0.09
0.75
0.02
0.03
0.06
0.15
0.01
0.02
0.06
0.10
0.03
0.10
0.02
0.03
LOW
0.14
0.01
0.01
0.01
0.01
0.02
0.01
0.08
0.16
0.12
0.01
0.03
0.01
0.05
0.20
1.07
0.14
0.03
0.09
0.02
0.58
1.30
0.01
0.05
0.03
0.04
0.01
0.13
0.02
0.01
0.01
0.01
0.06
0.01
0.03
0.03
0.01
0.03
0.10
0.02
0.03
0.01
0.17
0.05
0.02
0.01
0.20
0.01
0.01
0.06
0.01
0.01
0.01
0.98
0.01
0.09
1.05
0.03
0.25
0.03
0.01
0.03
0.08
0.01
0.01
0.11
0.06
0.04
0.10
0.17
0.02
0.03
0.01
0.01
0.03
0.01
0.06
0.01
0.03
0.01
0.02
STOCK
Giyani Gold
Global Cobalt
God’s Lake Res
Golden Band
Golden Cariboo
Gossan Res
Gravis Energy
Gray Rock Res
Greatbanks Res
Green Arrow
Greywacke Expl
GWR Res
Hard Creek Ni
Harvest Gold
Highvista Gold
HiHo Silver
Homeland Egy
Icon Explor
IEMR Res
IGC Res
Interconnect
Intl Samuel Ex
Iron South Mng
Jazz Res
JDF Explor Inc
Jet Gold
Jet Metal
Jiulian Res
Jubilee Gold
Kairos Cap
Karoo Expl
Kazax Mnls
Kenna Res
Kermode Res
Kestrel Gold
La Imperial
Lago Dourado
Lateral Gold
Lions Bay Cap
Los Andes Copp
Lovitt Res
Lucky Mnls
Lund Enterpr
MacMillan Mnls
Madeira Mrnls
Mainstream Mnl
Manado Gold
Maritime Res
Matachewan Con
Match Capital
MAX Res
MaxTech Vent
McLaren Res
Mega Copper
Megastar Dev
Mesa Expl
Metallum Res
Metalo Manuf
Metalore Res
Mezzotin Mnrls
Midasco Cap
Midnight Star
Millstream Min
Mistango River
Mitchell Res
Moag Copper
Montego Res
Morgan Res
Morumbi Res
Mountain Lake
Mountainstar
Natan Res
Navy Res
Nebu Res
Network Expl
New Klondike
New Oroperu
Newmac Res
Nickel North Nitinat Mnls
Noble Metal Gr
Norsemont Cap
NSS Res Inc
Nthrn Sphere
Nubian Res
Omineca Mg &Ml
Open Gold
Oracle Mng
12-MONTH
EXC BID ASKLASTHIGH LOW
V
V
C
V
V
V
C
V
V
V
C
V
V
V
V
C
V
V
V
V
V
V
V
V
C
V
V
V
V
V
V
V
V
V
V
C
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
C
C
V
V
V
V
C
T
V
V
C
V
C
V
C
C
V
V
C
C
V
V
V
V
V
V
V
V
V
V
C
C
C
V
V
V
V
0.04
0.04
0.09
0.11
0.05
0.02
0.02
0.02
0.08
0.01
0.01
...
0.08
0.10
0.01
...
0.01
0.01
0.01
0.01
0.06
0.07
0.06
0.08
0.03
0.03
0.04
0.03
0.05
0.02
...
0.02
0.01
0.04
0.09
0.04
0.04
0.02
0.01
0.02
0.01
0.14
0.01
0.03
0.04
0.03
0.10
0.03
0.04
...
0.04
0.04
0.01
0.04
0.05
0.05
0.08
0.02
0.03
0.05
0.03
0.08
0.01
0.04
0.12
0.04
0.05
0.01
...
0.16
0.17
0.17
0.17
...
0.02
0.01
0.01
0.01
...
0.01
0.01
0.01
0.01
0.02
0.03
0.02
0.03
0.01
0.01
0.02
0.01
0.01
0.01
0.01
0.01
0.01
0.02
0.01
0.090.14 0.09 0.10 0.05
0.02
0.14
0.10
0.30
0.05
0.05
0.06
0.05
0.08
0.04
0.09
0.13
0.13
0.23
0.08
...
0.02
0.02
0.02
0.02
0.04
0.08
0.06
0.06
0.03
0.10
0.10
0.09
0.16
0.04
0.02
0.06
0.03
0.03
0.01
0.39
0.74
0.38
0.61
0.30
0.02
0.04
0.03
0.03
0.01
0.01
0.02
0.01
0.02
0.01
0.01
0.03
0.01
0.06
0.01
0.10
0.15
0.12
0.17
0.08
0.01
0.02
0.01
0.02
0.01
0.02
0.02
0.02
0.07
0.01
0.01
0.05
0.01
0.01
0.01
0.09
0.13
0.12
0.15
0.05
0.11
0.16
0.14
0.28
0.07
0.01
0.03
0.01
0.02
0.01
0.15
0.20
0.20
0.20
0.05
0.03
0.10
0.03
0.05
0.02
0.05
0.06
0.06
0.14
0.05
0.11
0.14
0.13
0.13
0.02
0.21
0.27
0.27
0.30
0.05
0.03
...
0.03
0.03
0.02
...
0.01
0.01
0.01
0.01
0.03
0.08
0.01
0.17
0.23
0.21
0.23
0.08
0.24
0.32
0.38
0.49
0.17
0.01
0.02
0.01
0.01
0.01
0.06
0.08
0.07
0.11
0.04
0.26
0.28
0.26
0.26
0.05
...
0.01
0.01
0.01
0.01
0.02
0.03
0.02
0.05
0.02
0.05
0.08
0.08
0.08
0.02
0.03
0.04
0.03
0.04
0.01
0.03
0.06
0.12
0.80
1.10
1.10
1.50
0.30
1.95
2.10
2.00
3.72
1.26
0.01
0.01
0.01
0.01
0.01
0.05
0.13
0.08
0.13
0.07
0.06
0.15
0.06
0.10
0.06
0.07
0.09
0.08
0.16
0.01
0.02
0.04
0.02
0.07
0.01
0.03
0.04
0.03
0.05
0.01
...
...
0.08
0.12
0.07
0.07
0.10
0.10
0.13
0.09
0.01
0.02
0.02
0.03
0.01
0.03
0.03
0.03
0.04
0.02
...
0.01
0.01
0.01
0.01
... ... 0.100.30 0.09
0.09
0.33
0.10
0.20
0.05
0.20
0.30
0.21
0.29
0.06
0.01
0.02
0.01
0.03
0.01
0.17
0.23
0.17
0.22
0.02
0.01
0.01
0.01
0.02
0.01
0.32
0.43
0.38
0.43
0.07
0.09
0.14
0.12
0.20
0.05
0.01
0.02
0.01
0.02
0.01
0.04
0.05
0.05
0.08
0.03
0.01
0.01
0.01
0.01
0.01
0.25
0.32
0.25
0.31
0.07
...
...
0.20
0.20
0.20
0.35
0.98
0.43
0.53
0.10
0.01
0.02
0.01
0.02
0.01
0.06
0.07
0.06
0.11
0.01
0.01
0.01
0.01
0.01
0.01
0.01
0.07
0.01
STOCK
Organic Potash
Orofino Mnrls
Oronova Res
Oxford Res
Pac Bay Mnrls
Pac Cascade
Pac Link Mng
Pantheon Vent
Phoenix Gold
Phoenix Metals
Planet Mng
Prize Mng
ProAm Expl
Q-Gold Res
Rare Element*
Ravencrest Res
Razore Rock Res
Red Oak Mg
Red Rock Enrgy
Red Tiger Mng
Redzone Res
Remington Res
Remo Res
Rift Valley
River Wild Exp
Rodinia Lithm
Rotation Mnls
Royal Sapphire
RTG Mining
Rubicon Mnrls*
Saville Res
Savoy Vent
Scavo Res
Serabi Gold
SG Spirit Gold
SGX Res
Shamrock Ent
Shoshoni Gold
Signal Expl
Silver Phoenix
Sniper Res
SouthGobi Res
Starr Peak Exp
Stellar Africa
Stelmine Can
Stone Ridge Ex
Strata Mnls
Strategic Res
Sunrise Res
Sunset Cove Mg
Superior Mng
Swift Res
Tajiri Res
Tanager Energy
Tanzania Mnls
Taranis Res
Tarku Res
Tearlach Res
Teryl Res Corp
Theia Res
Thor Expl
Thunder Mtn Gd
Tiger Intl
Toachi Mg Inc
Tri-River Vent
Trident Gold
Trigen Res
Troy Enrgy
True Grit Res
Tsodilo Res
UC Res
United Coal
Universal Vent
Uranium Valley
Vangold Res
Vela Minerals
Velocity Mnrls
Venerable Vent
Victory Vent
Wabi Expl
War Eagle Mg
Weststar Res
White Metal Rs
Wolfeye Res
Zena Mng
Zinco Mng 12-MONTH
EXC BID ASKLASTHIGH LOW
C
V
V
V
V
V
V
V
V
V
V
V
V
V
X
C
C
V
V
V
V
V
V
C
C
V
V
V
T
X
V
V
C
T
V
V
C
V
V
C
V
T
V
V
V
C
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
V
C
V
V
V
V
V
V
V
C
V
C
V
V
V
V
0.01
0.19
0.04
0.02
0.06
0.01
0.02
0.11
...
0.19
0.05
0.01
0.01
0.10
0.11
0.01
...
0.01
0.01
0.05
0.12
0.05
0.09
0.01
0.01
0.02
0.03
0.04
0.48
...
0.02
...
0.36
0.08
0.11
0.02
0.02
0.01
0.03
0.01
0.01
0.25
0.10
0.01
0.01
0.11
0.01
0.02
0.01
0.01
0.01
0.01
0.04
0.09
0.01
0.10
0.05
0.08
0.01
0.10
0.04
0.08
0.13
0.22
0.03
0.01
0.06
0.01
0.01
0.59
0.01
...
0.40
0.05
0.01
0.03
0.08
0.01
0.03
0.04
0.01
0.04
0.05
0.25
0.08
0.05
0.06
0.75
0.06
0.03
0.07
0.02
0.10
0.11
0.01
0.20
0.07
0.02
0.02
0.13
0.16
...
0.05
0.03
0.03
0.09
0.25
0.08
0.15
0.05
0.10
0.02
0.25
0.07
0.60
...
0.04
...
0.57
0.10
...
0.02
0.03
0.01
...
0.24
0.01
0.32
0.19
0.02
0.02
0.15
0.02
0.03
0.02
0.01
0.01
0.03
0.04
0.09
0.01
0.12
0.06
0.15
0.02
0.14
0.08
...
0.25
0.30
0.09
0.01
0.20
0.04
0.05
0.69
0.02
0.01
...
0.06
0.02
0.04
0.15
0.04
0.04
0.05
0.02
0.06
0.06
...
0.09
0.07
0.02
0.09
0.19
0.23
0.04
0.04
0.03
0.06
0.10
0.01
0.02
0.02
0.03
0.10
0.13
0.01
0.02
0.21
0.21
0.05
0.08
0.02
0.05
0.02
0.02
0.13
0.13
0.15
0.89
0.01
0.01
0.05
0.08
0.01
0.03
0.01
0.04
0.07
0.10
0.11
0.30
0.04
0.05
0.09
0.10
0.01
0.04
0.01
0.01
0.01
0.05
0.04
0.15
0.04
0.07
0.68
0.75
0.03
1.35
0.04
0.05
0.16
0.36
0.54
0.08
0.10
0.09
0.20
0.02
0.05
0.03
0.04
0.01
0.01
0.03
0.04
0.10
0.10
0.01
0.07
0.26
1.00
0.10
0.19
0.01
0.04
0.01
0.04
0.11
0.14
0.01
0.05
0.02
0.04
0.01
0.05
0.01
0.03
0.01
0.01
0.01
0.07
0.04
0.06
0.09
0.10
0.01
0.02
0.10
0.15
0.05
0.10
0.08
0.16
0.02
0.02
0.10
0.12
0.06
0.06
0.08
0.12
0.13
0.25
0.25
0.27
0.03
0.17
0.01
0.02
0.07
0.07
0.01
0.03
0.01
0.04
0.65
1.10
0.02
0.03
0.01
0.45
0.45
0.05
0.13
0.02
0.02
0.04
0.08
0.08
0.20
0.02
0.02
0.04
0.04
0.05
0.06
0.02
0.03
0.06
0.06
0.05
0.08
0.25
0.35
0.07
0.10
0.05
0.08
0.01
0.05
0.03
0.03
0.01
0.01
0.09
0.01
0.02
0.02
0.02
0.01
0.01
0.06
0.01
0.01
0.01
0.01
0.02
0.06
0.01
0.04
0.01
0.01
0.01
0.02
0.02
0.33
0.03
0.01
0.26
0.04
0.05
0.01
0.01
0.01
0.01
0.01
0.01
0.21
0.05
0.01
0.01
0.10
0.01
0.02
0.01
0.01
0.01
0.01
0.01
0.02
0.01
0.03
0.02
0.02
0.01
0.05
0.02
0.05
0.12
0.03
0.03
0.01
0.03
0.01
0.01
0.54
0.01
0.42
0.04
0.01
0.02
0.05
0.01
0.01
0.03
0.01
0.01
0.02
0.19
0.05
0.01
2016-05-31 3:56 PM
GLOBAL MINING NEWS
11
Golden Predator attracts heavy hitters
GOLDEN PREDATOR From 1
at FCMI Parent Co. had bought 4
million shares and 4 million warrants as part of a larger $4.3-million
private placement of 27 million
units priced at 16¢ apiece, with
each unit comprised of a share and
a warrant entitling the holder to
buy another share for 21¢ within
two years..a
It gives Friedberg 6% of the junior
exploration company’s shares, or a
fu11y diluted 11.3%.
News of the financing sent Golden
Predator’s shares rocketing 47%
to 63¢.
“Friedberg typically doesn’t invest
in companies with small market
caps, so we’re honoured to have
gained his attention,” Golden Predator’s chairman William Sheriff says.
Friedberg wasn’t the only big
name to come into the financing,
however. Mining mogul Rob McEwen’s McEwen Mining (TSX: MUX;
NYSE: MUX) also took part, taking slightly over 3 million shares
and an equal number of warrants,
giving the mining company a 4.7%
stake, or 8.95% upon exercise of
the warrants.
Pat DiCapo, a founder of Torontobased merchant bank PowerOne
Capital Markets Ltd., took part,
and now owns 3.5 million shares
and 4 million warrants for a 5.3%
interest, or a fully diluted 10.6%,
while PowerOneCapital acquired
ownership and control of 1.27 million broker warrants.
“Friedberg, McEwen and DiCapo
will really help us advance our two
premier projects in the Yukon,”
Sheriff says. (Sheriff himself took the
opportunity to increase his personal
“FRIEDBERG,
MCEWEN AND
DICAPO WILL
REALLY HELP US
ADVANCE OUR TWO
PREMIER PROJECTS
IN THE YUKON.”
WILLIAM SHERIFF
CHAIRMAN, GOLDEN PREDATOR
stake in the junior’s common shares,
adding 1.9 million units for 17.5%.)
“We think we’ve got some pretty
exciting properties,” says Sheriff,
who is no stranger to successful
projects, having cofounded Energy
Metals Corp., which was acquired
by Uranium One (TSX: UUU) in
2008 for $1.8 billion.
Golden Predator’s flagship asset
is 3 Aces, an orogenic gold deposit
in the southeastern Yukon, 160 km
north of Watson Lake. The highgrade discovery is located along the
all-season Nahanni Range Road,
which leads to the Cantung tungsten
mine, 40 km north.
Since 2010, the junior has drilled
11,400 metres — mainly on the
Main and Sleeping Giant zones —
and conducted airborne and ground
geophysics, stream sediment and
soil sampling, as well as prospecting
and geological mapping.
Exploration results include
highlights such as drill hole 3A10-1, which intersected 30.3 metres
grading 4.3 grams gold per tonne
from 49 metres deep, and drill
hole 3A-10-2, which returned 10.9
metres of 14.8 grams gold from 25
An excavator in action at Golden Predator Mining’s 3 Aces gold project in the
Yukon. GOLDEN PREDATOR MINING
metres deep.
High-grade mineralized shoots
are seen in outcrops, and the company has grab samples of up to 4,820
grams gold per tonne, with multiple
specimens over 1,000 grams per
tonne from the deposit’s Main and
Sleeping Giant zones. Channel
samples include 5.2 metres of 448
grams gold per tonne.
Golden Predator has identified
extensive gold anomalies over 9
sq. km, and Sheriff and his team
are confident there is potential for
more discoveries on the 225 sq.
km property.
“An anomaly of that size certainly
indicates an opportunity to find a
number of quartz veins, and we
view this as a district-size potential
opportunity,” he says. “Given the
large anomaly that we know of in the
soils, coupled with an even larger
area with these untested streamsediment anomalies, it’s virtually
virgin territory, with these gold
quartz veins outcropping.”
“Saying it’s just the tip of the
iceberg is not a good analogy,” he
continues. “It’s better than that.
We’ve looked at maybe 1% of the
property in any sort of detail, so
it’s in its infancy, and the results
so far have been nothing short of
spectacular.”
Golden Predator has just completed a 680-tonne bulk sample of
high-grade gold-quartz veining at
3 Aces, and is awaiting results. The
sample, taken from the Sleeping
Giant vein, was originally intended
to be 500 tonnes, but the company’s
geologists are expanding the program, after noting vein continuity
and visible gold within the quartz
vein’s down-dip continuation.
“We had to cut if off somewhere,
but there was still visible gold when
we left, so the mineralization continues,” Sheriff says of the bulk-
sampling.
“We are early at 3 Aces and the
evidence we are finding is encouraging, which makes it an awfully
exciting project.”
Golden Predator also owns Brewery Creek, a past-producing, heap
leach gold mine that operated from
1996 to 2002, when it closed during
low gold prices.
The company completed a preliminary economic assessment on
the project in the fourth quarter of
2014, and will advance it through
feasibility and permitting.
At a base case of US$1,250 per
oz. gold, the 2014 PEA outlined a
nine-year mine life.
Since 2009, the company has
spent $30 million on drilling
100,000 metres, and increasing
indicated and inferred resources
400% and 200%.
Indicated resources stand at 17.6
million tonnes averaging 1.27 gram
gold for 719,000 contained oz. gold.
Inferred resources add 21.7 million
tonnes grading 1.18 grams gold for
825,000 contained oz. gold.
Sheriff notes that the company
has probably only explored 15% of
the Brewery Creek property, and the
company hit 80% success rates on
its exploration holes before the financial crisis and capital constraints
threw junior mining companies
like his off balance.
“Brewery Creek’s oxide resource
is a little over 1 gram gold per tonne,
so it may not have the pizzazz of the
high-grade visible gold in quartz
veins that we have at 3 Aces,” Sheriff
says. “But it is an economically
important asset, as there are few
oxide heap-leach projects remaining
in first-world jurisdictions.” TNM
“THE DOWNS ARE
HARD ON YOU,
HARD ON YOUR
FRIENDS AND
FAMILY WHO ARE
LIKELY INVESTED
AS WELL, HARD
ON THE WORKERS
— AND EVEN THE
TOWNS THAT THE
MINES SUPPORT.”
KERRY KNOLL From 2
a phosphate project in Idaho. The
company has lost 99% of its value
since going public six years ago and
is trading at 1¢ per share.
“Phosphate prices are low, so we
can’t do anything with that one,”
Knoll says.
Among their worst experiences,
however, was Canada Lithium,
which Knoll describes as a “spectacular” failure. “It was disappointing and a failure, and we lost a lot of
money personally,” he says.
Knoll didn’t create the company,
but he was a fairly large shareholder
and joined management as interim
president in 2009. After bringing
in Peter Secker as president, Knoll
became chairman of the board, and
together they raised $250 million in
debt and equity to build the mine,
mill and a hydromet plant. Initial
capex was set at $209 million, but
it ran slightly over that before commissioning began.
The mine and mill were pretty
straightforward, though there were
some problems with having the
crusher outdoors in the winter, Knoll
says. It was the hydromet plant, however, that the company had problems
with. (Hydromet plants are used to
convert concentrate into nearly pure
lithium carbonate for batteries.) The
plant had to operate continuously
in order to function, so every time
one of its components went offline,
the whole plant would have to shut
down and it took several days to
restore production, Knoll says.
“There were many operating and
maintenance issues, probably poor
training, and especially the roaster
presented a lot of problems,” he says.
“Initially the CSA wouldn’t certify
the roaster, and when they finally
did, it broke down frequently —
all of this with a full payroll and
consultants everywhere.”
The company brought in new
1 2 3 4 5 11 13 14 16_Jun6_Main .indd 11
KERRY KNOLL
MINING ENTREPRENEUR
The Canada Lithium plant under construction in Quebec in 2012. CANADA LITHIUM
management, former managers from
FMC Lithium in North Carolina,
raised more money to keep going,
but in the end just couldn’t raise any
more. Canada Lithium then merged
with a Lundin company to form RB
Energy, and their management took
over. But it encountered more of
the same problems until it ran out
of money, too.
“In the end it cost well over $300
million,” Knoll says. “The RB Energy
guys [under the leadership of Rick
Clark, who was part of the management team at Lundin Group’s Red
Back Mining Inc., which sold to
Kinross in 2010 for US$7.1 billion]
got the plant operating for a few days
and produced some remarkably good
product — better than expected.
There have only been two such plants
of this size ever built in the world,
Canada Lithium’s, and one in China,
by Galaxy, an Australian company,
which had pretty much the same
problems and was eventually sold
to a Chinese company.”
McDonald is philosophical about
the failures. “They can’t all be winners, and as for the timing — no one
has a crystal ball or the bell doesn’t
ring when you’re at the top or the
bottom of the market. It isn’t for the
faint of heart.”
Still, McDonald has no regrets.
“It’s been fantastic,” he says. “The
reason I love this business is that I’m
not smart enough to invent a new
vaccine or an app that everyone has
to buy, but you can create wealth
where there wasn’t any before. If a
mine gets built, you’ve got governments getting taxes, shareholders making money on successful
building and you’ve got all these
employees who get jobs, and locals
do all the contracting living in the
community. It’s a win-win situation.”
Knoll makes the point that every
company the pair have founded has
built a mine, which is no small feat
in an industry where only a small
fraction of projects make it into
production.
He says the thrill of success outweighs the disappointment over the
failures, and he is thankful he found
his way into the industry.
“There have been such huge ups
and downs — you need to fasten a
seatbelt sometimes,” he says. “The
downs are hard on you and hard
on your friends and family, who
are likely invested as well, hard on
the workers — and even the towns
that the mines support.
“But there is little in life comparable to having a stock go from a
few cents to $5 or $24, as it did in
the case of Thompson Creek, and
building a mine, or pulling 15 metres of core grading half an ounce
of gold,” he continues. “The people
you meet and work with are often
sheer entertainment and brilliant
as well. The travel is phenomenal,
whether you are in a mosquitoinfested tent above the treeline or
the Ritz in Paris, you go to so many
places hardly anybody ever sees. I
don’t think I could have picked a
better career than this one.”
These days, Knoll divides his time
between a home in Florida on the
Gulf of Mexico, a cottage in Muskoka, Ont., wine country north of
Kelowna, B.C., where he is building
a place, and a condo in downtown
Toronto. He and his wife bought
the condo in Toronto to be close to
family. His wife has three children
and he has two, and they all live in
the heart of the city.
He’s also channelling much of
his time and energy into reviving the fortunes of Darnley Bay, a
company in which he first became
a shareholder in 2009.
The company’s early claim to
fame was a huge gravity anomaly
in the Northwest Territories near
Paulatuk, a hamlet along the shores
of Darnley Bay in the Inuvialuit
Settlement Region. The company
was founded by Leon LaPrairie,
one of Knoll’s early acquaintances.
(It was LaPrairie who encouraged
Knoll to consider working for The
Northern Miner after he graduated
from Ryerson University’s journalism program, and after Knoll
completed an internship at the
Globe and Mail.)
Darnley Bay’s early exploration
program in the Arctic was a failure because none of the holes were
drilled deep enough to test key
targets. Knoll hopes to revive the
company and has hired Toronto
financier Jamie Levy as president
and CEO to get Darnley Bay back on
its feet by doing more work on the
anomaly, advancing the Davidson
project and looking at new acquisitions. Currently the company is
evaluating projects across Canada.
Knoll is confident that commodity
prices will turn, and when they do,
he says Davidson could become one
of the success stories of his career.
“There have been two events over
the course of history that have kickstarted the mining business into
high gear,” he says. “One thing that
can do it is a big discovery — like a
Hemlo or a Voisey’s Bay — but that’s
pretty hard to predict. The other is
an increase in commodity prices,
and that happens in cycles … it’s
imminent … within the next year
or two, I can see that happening.
“People keep buying cars and
houses and computers, and at some
point things will turn, and we want
Darnley Bay ready to turn when
they do,” he continues. “You also
need some luck on timing — there’s
no substitute for that.” TNM
2016-05-31 5:39 PM
12
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12_JUN6_ProDirectory .indd 12
2016-05-31 3:53 PM
GLOBAL MINING NEWS
13
Endeavour Silver to buy
Canarc's Oro Silver for $10.5M
M&A | Endeavour CEO Bradford Cooke wants to expand resources and consolidate district
BY TRISH SAYWELL
E
[email protected]
ndeavour Silver’s (TSX: EDR;
NYSE: EXK) search for development opportunities to shore
up its portfolio of three producing
silver mines in Mexico has resulted
in an agreement to acquire Oro
Silver Resources and its El Compas
gold-silver project in Zacatecas,
Mexico, in an all-share deal valued
at $10.5 million.
Oro Silver is a wholly owned
subsidiary of Canarc Resource
(TSX: CCM), a company Endeavour
Silver founder and CEO Bradford
Cooke created in 1998 focused on
exploring and developing gold prospects in the Americas. (Cooke set
up Endeavour Silver in 2003, to
acquire high-grade silver projects
in Mexico.)
A preliminary economic assessment of the permitted El Compas
project that Canarc completed in
February contemplated a sevenyear underground mine using a
local contractor to produce 18,000
equivalent oz. gold a year.
Mineralized material would be
trucked 20 km from El Compas
to the government-owned La Plata
processing plant. Canarc has already
secured a five-year renewable lease
option with the government to use
the 500-tonne-per-day plant.
The plant was built in September
2013 by the state government of
Zacatecas to process minerals from
local small miners. It last operated
in October 2014.
Endeavour says it would take
less than a year to develop the
mine and refurbish the plant at a
US$10-million capital cost. (The
refurbishment would include adding a 50-tonne-per-day-leach and
Merrill-Crowe recovery circuit to
the plant to make doré bars.) If all
went according to plan, El Compas
could be in production in 2017.
“El Compas is a high-quality —
albeit small — gold-silver mining
project,” Endeavour’s CEO Cooke
said in a telephone interview. “Canarc was quite nimble to acquire the
property cheaply and add significant value in such a short period
of time — not only in terms of
acquiring the fully permitted mine
and leasing an existing plant, but
also in re-estimating the resource,
completing a preliminary economic
assessment and hiring a general
manager. That was work well done.”
According to the PEA, payable
production over the mine’s life
would add up to 115,000 oz. gold
and 886,000 oz. silver for a total
126,000 equivalent oz. gold. Cash
costs in the study were estimated at
US$523 per equivalent oz. gold, with
all-in sustaining costs of US$614
per oz. gold.
At metal prices of US$1,100 per
equivalent oz. gold and US$14 per
oz. silver, the high-grade operation
could deliver a US$32.9-million
after-tax net present value and an
84.3% post-tax internal rate of return at a 5% discount rate.
Canarc has estimated a
552,000-tonne indicated resource
grading 6.55 grams gold per tonne
and 66.2 grams silver for 116,000 oz.
gold and 1.18 million oz. silver. Inferred resources add another 421,000
tonnes at 4.18 grams gold and 59.9
grams silver for 57,000 contained
oz. gold and 812,000 oz. silver.
“The resource is small, so Endeavour probably wouldn’t have
done this deal unless we thought
there was good exploration and
consolidation potential,” Cooke
1 2 3 4 5 11 13 14 16_Jun6_Main .indd 13
Canarc Resource CEO Catalin Chiloflischi (left) and project manager Louis Garcia at the El Compas gold-silver project in
Zacatecas, Mexico. Canarc Resources
“ENDEAVOUR
SILVER HAS DEEPER
MANAGEMENT AND
DEEPER POCKETS
THAN CANARC,
SO IT IS BETTER
POSITIONED TO
UNFOLD THE FULL
POTENTIAL AT EL
COMPAS.”
BRADFORD COOKE
FOUNDER AND CEO,
ENDEAVOUR SILVER
said. “Endeavour Silver has deeper
management and deeper pockets
than Canarc, so it is better positioned to unfold the full potential at
El Compas, and therein lies Endeavour’s rationale for the transaction.”
Cooke points out that Zacatecas
is one of Mexico's largest historic
silver districts and that a number of
companies are active in the region,
including Capstone Mining (TSX:
CS) and its Mala Noche mine, 20 km
from El Compas, Penoles’ Francisco
Madero copper-zinc mine, 30 km
northwest, and the Fresnillo silver
mine, 50 km northwest.
“Satellite imagery shows a northwest-trending major structure that
goes from El Compas right through
the Francisco Madero mine, and
some geologists postulate it may
be responsible for the emplacement
of the volcanic rocks and two ore
deposits,” Cooke says.
The Zacatecas district is full of
historic silver mines, he adds, and
property ownership in the district
is highly fragmented. “There are
junior companies holding small
resources scattered throughout
the district, all of which are within
trucking distance of our plant,” he
continues. “If we could pick up some
of these smaller resources, we may
get production from several sources
in the district. We’d have to do deals
to get them, but we think this is an
opportunity.”
Cooke is confident that the 39.9
sq. km property itself — which hosts
multiple gold-silver veins with a
history of small scale, underground
mining from two old mine workings — offers potential for more
discoveries.
So far, exploration efforts have
focused on near-surface gold mineralization, but the company believes
there may be more mineralization
at depth in the El Compas and El
Orito veins, and near-surface in
several other prospective veins
hosted within the Mesozoic volcanic
rocks typical of the district.
“There are another dozen or so
exploration targets previously identified on the El Compas property
— early-stage targets, but with alteration or mineralization that have
never been drilled — and around
the resource there are parallel veins
that appear prospective,” Cooke
says. “There are also some areas
of the resource that need work to
upgrade them for a mine plan.”
Under the transaction with Oro
Silver, Endeavour will issue the
junior 2.2 million of its shares at
$4.89 per share (the 10-day, volumeweighted average price of Endeavour’s shares on the Toronto Stock
Exchange).
In addition, Endeavour will assume Canarc’s obligation to pay a
total 165 troy oz. gold production
to Marlin Gold Mining Ltd. Three
payments of 55 troy oz. are due in
October 2016, 2017 and 2018.
Of the 28 concessions on the land
package, 22 are subject to a 1.5% net
smelter return royalty (NSR), and
six are subject to a 3% NSR.
Endeavour says its short-term
goals at El Compas will be investing in exploration to upgrade and
expand the resource, consolidate
properties in the district to extend
the project’s mine life and refurbish the plant, and re-evaluate the
economics of developing the mine.
As for Canarc, Cooke says, the
junior turned a good profit on El
Compas. “In less than a year, Canarc
acquired the El Compas project,
did a lot of value-added work and
received five times as much as it had
invested,” he says. “Their $2-million
acquisition and development cost
netted the company a $10.5-million
return. Canarc’s enhanced treasury
allows the company to actively seek
substantial merger and acquisition
opportunities to create even more
value for our shareholders.”
Cooke says both companies will
continue to look for new acquisi-
tions.
“Endeavour Silver is focused
preferably on bigger opportunities, and that’s primarily my job,
and at Canarc, their CEO is also
working hard to build out Canarc’s
portfolio — thankfully with a much
larger treasure chest than it had
before the deal.”
Last year, Endeavour’s three
mines produced a total of 7.2 million oz. silver and 60,000 oz. gold.
Its Guanacevi mine in Durango
state, and the Bolanitos and El Cubo
mines in Guanajuato state, are all
high-grade, underground mines.
Elsewhere in Mexico, Endeavour
is advancing its high-grade Terronera project in a historic silver and
gold mining district in southwestern
Jalisco state, 155 km southwest of
Guadalajara and 40 km northeast
of the coastal resort town of Puerto
Vallarta.
Endeavour acquired an option to buy the property in 2010,
kicked off exploration drilling in
2011, discovered the Terronera mineralized zone in 2012, established
an initial resource and bought the
property in 2013, and continued
infill drilling to delineate a more
substantial resource in 2014.
In late 2014, Endeavour received
approval from the Mexican government for its environmental impact
assessment (EIA) for a 500-tonneper-day project and initiated a
prefeasibility study to assess the
potential to amend the EIA, and
build a 1,000-tonne-per-day, highgrade underground silver gold mine
at Terronera.
In May 2015, Endeavour completed a preliminary economic
assessment that outlined a 10.3year mine life and $65.4-million,
pre-production capex.
The PEA was based on the company’s October 2014 resource estimate that outlined 2.9 million
tonnes grading 211 grams silver
per tonne and 1.65 grams gold per
tonne, for contained metal of 19.9
million oz. silver and 156,000 oz.
gold (30.8 million equivalent oz.
silver) in the indicated category.
Inferred resources measured 1.2
million tonnes grading 218 grams
silver, 1.39 grams gold for 8.5 million oz. silver and 54,000 oz. gold
(12.3 million equivalent oz. silver).
Terronera displays a classic lowsulphidation epithermal vein system, and, historically, more than
50 small mines have been been
developed within at least 20 veins
in the 16 sq. km land package.
While the Terronera silver mines
were first discovered in 1542 and
have seen several periods of smallscale mining over the last 450 years,
little modern exploration was ever
carried out in the district, the company says.
The Terronera property also surrounds an underground silver-gold
mine called Santa Quiteria, which
produces 100 tonnes of ore daily. TNM
CAREER OPPORTUNITIES
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2016-05-31 6:16 PM
14
Trevali cuts costs at Santander
ZINC | Junior's zinc-lead-silver mine in central Peru surprises on the upside
BY SALMA TARIKH
T
[email protected]
revali Mining’s (TSX: TV;
US-OTC: TREVF) Santander
zinc-lead-silver mine in Peru
keeps beating expectations, and the
company says it’s one of the lowestcost operating mines in the country’s
Central Mineral Belt.
Trevali acquired the past-producer — located 215 km northeast
of Lima — in 2007, and put it back
into production in January 2014.
The junior uses Glencore’s (LSE:
GLEN) 2,000-tonne-per-day mill,
which it bought on a lease-to-own
basis, to process Santander’s ore.
Glencore also has a life-of-mine
offtake agreement on Santander
and the firm’s 3,000-tonne-per-day
Caribou zinc-lead-copper-silver
mine in northern New Brunswick.
Caribou is currently undergoing
commissioning.
“Santander continues to improve,
with first-quarter record throughput
helping to reduce fixed costs —
beating our estimate — and down
The m a T eva M n ng s San ande z nc ead s ve m ne n Pe u 200 km no heas o L ma
a substantial 17% quarter-overquarter,” Raymond James analyst
Alex Terentiew writes.
Payable production for the first
quarter included 13.7 million lb.
zinc, 6.4 million lb. lead and 221,324
M N NG
oz. silver. Compared to the same
period of 2015, zinc output increased
9%, while lead and silver output
Trusted provider of global
mining & exploration
intelligence since 1915.
100
Years
Maiden Ag Resource Due Q2
Strong Cash Position
TSX.V: GRG
www.goldenarrowresources.com
Commentary
Rainforest reclamation
done right in Brazil
$3.50 • april 29-may 5, 2013 • VOl. 99, NO. 11 • SiNCE 1915
Barrick investors
revolt against
$11.9m bonus
TSX.V: GRG
THE WORLD’S FIRST SATELLITE MESSENGER.
www.findmespot.com
By Gwen Preston in vancouver
and trish saywell in toronto
In the last year Barrick Gold
(ABX-T, ABX-N) has announced a
multi-billion
MEXICdollar overrun at its
O
Commentary
El Tigre Silver
flagship development
project in
Sees a bright future
Chile, taken a $3.8-billion charge
in old tailings
on a highly criticized acquisition,
4
20 changed its11-15
chief executive officer
and seen its share price sliced in
half.
So it was no great surprise that
eight funds who are invested in the
gold major formally protested the
company’s decision to offer cochairman John Thornton an “unprecedented” signing bonus of
But Barrick founder and chairBy Gwen Preston in vancouver
man Peter Munk vigorously deand trish saywell in toronto
$11.9 million.
In the last year Barrick Gold fended Barrick’s decision at the
The group of seven Canadian
(ABX-T, ABX-N) has announced a company’s annual general meeting
multi-billion dollar overrun at its on April 24.
pension funds and one interna“I convinced the board,” he told
flagship development project in
Chile, taken a $3.8-billion charge the standing-room-only crowd at
tional investment fund say the
on a highly criticized acquisition, the Metro Toronto Convention
signing bonus, which would bring
changed its chief executive officer Centre. “If you want to give anyand seen its share price sliced in one hell, give it to me.”
Thornton’s total compensation
Munk argued that the new parhalf.
So it was no great surprise that adigm of mounting resource nafor 2012 to $17 million, is a Canaeight funds who are invested in the tionalism requires a brand-new
dian record.
gold major formally protested the approach to government concompany’s decision to offer co- tacts. And he said that the chal“This compensation is inconchairman John Thornton an “un- lenges of protecting the compasistent with the governance prinprecedented” signing bonus of ny’s assets — “90% of which, to
the tune of $40 billion, are in 23
$11.9 million.
ciple of pay-for-performance
The group of seven Canadian different countries” — meant that the past-producing pit at Paramount Gold and Silver’s Sleeper gold-silver project in Nevada.
pension funds and one interna- the company needed someone of
and is therefore disproportiontional investment fund say the Thornton’s exceptional calibre
ate
setstheawestern
troubling precesigning bonus, which would bring and “unique credentials,” leverSleeper was one of the lowest-cost
Sleeperand
lies within
Site ViSit
Thornton’s total compensation age and access to some of the
gold mines in the world, and Para- reaches
the northern
Nevada capital mardentof in
Canadian
for 2012 to $17 million, is a Cana- world’s most important power
mount believes the old mine has a rift, specifically along the SlumBy matthew keevil
kets,”
the consists
group
said in a
brokers.
dian record.
bering
Hills, which
of
WINNEMUCCA, NEV. — For Nev- robust future.
“We believe that pay should be ada-based explorer Paramount
“This compensation is inconSipping coffee inside Para- Mesozoic meta-sedimentary rocks
As a group these funds
sistent with the governance prin- tailored to achievements, that pay Gold and Silver (PZG-T, PZG-X), mount’s headquarters in the min- ofstatement.
the Auld Lang Syne group and
ciple of pay-for-performance should come after performance,” there’s a lot to be said for making ing town of Winnemucca, vice- Cretaceous
granitic intrusions.
collectively
manage over $900
and is therefore disproportion- Munk said. “It was hard to have something old new again. In mid- president of exploration Glen van Mineralization at Sleeper falls into
billion
in assets.
ate and sets a troubling prece- someone paid on performance if he 2010 the company picked up the Treek, who joined Paramount four
main categories,
including:
TSX-V:RRI
Pages
Newstrike
Knowledge
is Golden™
www.rivres.com
11-15
Capital’s
Ana Paula
gold project
in Mexico’s
Four muy
silver stockcaliente
picks
Guerrero
gold belt.
Endeavour
Bradford Silver’s
shares his Cooke
recipe
PICKS,
Barrick investors
revolt against
$11.9m bonus
How Mexico
mantle
as a top reclaimed its
mining
nation
April 29-May
BY ALISHA
To discern
HIYATE
the winners
crowded
Price target:
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Campbell ana- ing
$2.11; 52-week
range:
of CaDoulis Genuity and
$1.55 to
tradof
$2.96
Christos
for their Stonecap
Both analysts
Securities,
country. best stock
picked
nior SilverCrest
bets in
resilient
the SVLC-X)
While
juthe analysts’
Mines
have all
as one
(SVL-V,
price
Mexico-focused
of their
because been lowered targets
favourite
The company stocks.
recently
metals of the drop
heap-leach
in precious
prices,
put the
picks will
they believe
open-pit,
Santa
mine in
northwest Elena gold-silver
their
companies.outperform
state into
their peer
Mexico’s
production
Sonora
This year,
in July
SilverCrest
2011.
churn out SilverCrest
Mines
expects
Analysts:
2.4 million
silver (579,000
Christos
equivalent to
cap Securities;
Doulis,
oz. silver
oz. gold)
oz.
StoneNicholas
and 33,500
Canaccord
per oz. at a cash cost
Campbell,
Genuity
silver,
of US$8.50
with production
creasing
to 4.6 million
inSee STOCK equivalent
5, 2013
NEWSTRIKE
CAPITAL
Page 14
A drill site
at MAG
Silver’s
flagship
Juanicipio
silver property
BY
in Zacatecas
“There VIRGINIA HEFFERNAN
is
state, Mexico.
BY GWEN
litically, support for
VANCOUVER
PRESTON
more exploration
the geology mining poMAG SILVER
the people
CEO of
—
any other
is excellent,
Endeavour
spending
EndeavourAs founder
are incredibly
and the
and
T, EXK-N),
president
try in 2012,Latin American than is
food
Silver
ton are
friendly
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a big part Godfrey WalWith theseis delicious.”
according
a company Bradford Cooke(EDR- Earlier
counbased
to come.
producers
SNL Metals to Halifaxsuperlatives,
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that
At least
leads
this year, of the answer.
small,
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— Fortuna
three
defunct has turned
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capturing
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mines
Peter
Mexican
(FVI-T,
total
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in Mexicowhy he is still Megaw metalsworldwideabout 6% of the
silver
of how with Cooke to
erations large and profitable
a rural
ton,
working
after
in just
per; and Mining (CS-T),silver;
kid from get cades,
explorationnon-ferrous
op- izingAlta., became
eight
With the
$21.5 billion.
despite almost four
Hina leader
cop(AEM-T, Agnico-Eagle
budget
purchase years.
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derelated
derachieving
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of said
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silver sector.
of a third
protests.
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companies
gold —
they are
mine,
un- ‘I
plans to
pected
Endeavour
have
Megaw, anti-mining
repeat
got hooked’
panding
considering
to invest
were
International
potentially
the process
president
Mexico
their
In 1976,
$7.6 billion ex- ects
in 2012,
— and
Exploration Development of what
Cooke
in Mexico.portfolio of exsilver majorattract the attention
in
was
of a B.Sc.
projthey spentmore than double
and co-founderand
The attraction
with its
MAG
in geology in his final year
of a
and high-potential
ing to
Silver
growing
in
versity.
result
output
is an expert (MAG-T,
of ber. the Mexican 2010, accordis partly
The marketsat Queen’s
of
So how
land packages.
Uniologists
mining
Recent
the
prices. strong precious
on MexicanMVG-X),
did Endeavour
were hot.
and has
were in
chamsuch success?
mergers
Mexico
tions
been instrumental
Ge- discovery
near-term
metal
such demand
geology
and acquisitop s
achieve
(
is the
Bradford
il
includedM & A ) a c t
world’s
job offers grads were flooded that posits
Cooke
of several
cracked v e r p r o d u
in the
Primero i v i t y h a s
and
at Christmas.
cer
(P-T, PPP-N)
the list
there.
with
silver
producing
Mining’s
of top-10, a n d
de- Resources
His colleagues
takeover
See ENDEAVOUR,
goldfirst time countries
of Cerro
must agree
in the
(CJO-V)
d’Alene
Page 13
for the
industry
in 2011.
prices
and
is worth that the security
N) bestingMines (CDM-T,Coeur year, have fallen Although
it. Mexico
risk
First
CDEsilver
hard
(FR-T,
attracted
US$30
was tradingthis
AG-N) Majestic Silver
in
Silver
US$1,657per oz. and
at
(OK-V). its bid for Orko
gold
And more
per oz.
2012,
compared at the end at
M&A
of
to US$17
See MEXICO, and
paramount orchestrates a
golden revival at Sleeper
An Evolution
in High-Grade
Silver
ExcellonResources.com
• Mexico’s
Highest
Grade Producer
• Low Net
Cash Costs
800+ g/t
Ag
$5-7/oz
• Optimizing
net of by-products
Production
• CRD/Source-Style
Increase
Cash Flow
and Grow
Discovery
Mine Life
55M@130
Opportunity
g/t
Mexico’s
• Market
Excellon
TNM April
29 2013
Issue.indd
11
Yet to be
Resources
Inc. 20 Victoria
Street,
Valued
Suite 900,
Ag; 3.11%
Discovery
Toronto,
Ontario,
Highest
Page 12
La Platosa
Grade
Mine
Silver
Pb; 1.69%
in a Rising
Canada
Producer
Zn; 0.075
g/t Au
Silver Market
M5C 2N8
TSX:EXN
Contact:
Brendan
Cahill 416
[email protected]
364 1130
13-04-24
5:28 PM
Photo by MAtthew Keevil
dent in Canadian capital markets,” the group said in a
statement. As a group these funds
collectively manage over $900
billion in assets.
would not have been able to join to
perform. So we had a bit of a
chicken and an egg situation . . .
sometimes you have to do things
See Barrick, Page 3
Edgewater uncovers
gold at Corcoesto
in Galicia
Site ViSit
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1 2 3 4 5 11 13 14 16_Jun6_Ma n ndd 14
&
By matthew
keevil
LA CORUÑA, GALICIA, SPAIN —
It has been three years since Vancouver-based Edgewater Exploration (EDW-V) bought the
Corcoesto gold project from Lundin Mining (LUN-T) and embarked upon a journey in northwesternmost Spain’s La Coruna
province, where mining history
dates back more than 4,000 years.
Now Edgewater stands poised
on the development threshold,
having pulled together a gold re-
source in excess of 1 million oz. and
putting the finishing touches on a
feasibility study slated for release
in the fourth quarter.
Corcoesto lies at the end of a leisurely drive on well-maintained
roads, 36 km southwest of the port
city of La Coruna.
The route traces alongside the
deep blue of the Atlantic Ocean,
and through seasonal sandy beach
communities marked by the
colourful hulls of fishing crafts
that sway on the tide.
Edgewater’s project sits around
10 km inland from any local agricultural or tourist activities,
amongst green hills bristling with
thin-trunked eucalyptus trees.
“We have excellent government
and community support,” comments vice-president exploration
Greg Smith during the drive, pointing out that a local mayoral candidate recently won with a platform
See EdGEwatEr, Page 18
past-producing Sleeper gold-silver
mine, which operated from 1986 to
1996, and produced roughly 1.65 million oz. gold and 2.3 million oz. silver
during its mine life. At the time
after a 10-year stint with Teck Resources, stands to present his geological model and outline Paramount’s exploration strategy
going forward.
B2Gold hits new
gold at developing
Otjikoto mine
By Gwen Preston
VANCOUVER — With its list of
gold mines having just climbed
from two to three following the
takeover of CGA Mining and with
a fourth mine under construction,
B2Gold (BTO-T) expects to churn
out more than half a million ounces
of gold annually by 2015. It’s a feat
that is earning the company growing praise from an industry happy
to see an acquisition-based success
story amidst so many overpriced
and failed deals.
And in its latest news B2Gold
reports its drills are hitting highgrade gold at a satellite zone at
Otjikoto — the mine under construction in Namibia — that could
well add years and ounces to the
operation.
Otjikoto sits 300 km north of the
Namibian capital of Windhoek.
The project, which B2Gold holds a
92% stake in through a partnership
with Namibian EVI Gold, is home
to 29.4 million probable tonnes of
open-pit reserves grading 1.42
grams gold per tonne. Open-pit
mine construction at Otjikoto
kicked off in January, with initial
gold production expected in late
2014.
Otjikoto’s current reserves support 112,000 oz. gold production
annually for 12 years. However,
B2Gold believes there is much
more gold to discover at the burgeoning mine. To that end, the
company has already completed 47
drill holes at the project this year.
Thirteen of those holes were collared within the planned Otjikoto
open pit to better delineate certain
ore shoots, while another six holes
were drilled to inform civil engineering studies. The other 28 holes
all probed Wolfshag, a known but
little-explored gold zone, northeast of the planned pit.
Using historic data and a few drill
See B2GoLd, Page 3
But Barrick founder and chairman Peter Munk vigorously defended Barrick’s decision at the
company’s annual general meeting
on April 24.
“I convinced the board,” he told
the standing-room-only crowd at
the Metro Toronto Convention
Centre. “If you want to give anyone hell, give it to me.”
Munk argued that the new paradigm of mounting resource nationalism requires a brand-new
approach to government contacts. And he said that the challenges of protecting the company’s assets — “90% of which, to
different countries” — meant that
the company needed someone of
Thornton’s exceptional calibre
and “unique credentials,” leverage and access to some of the
world’s most important power
brokers.
“We believe that pay should be
tailored to achievements, that pay
should come after performance,”
Munk said. “It was hard to have
someone paid on performance if he
See Barrick, Page 3
early quartz-pyrite-marcasite
stockwork, intermediate silicapyrite-marcasite cemented breccias tied to zones of structural
weakness, late-stage zones of highgrade banded quartz veins and
post-alluvial, gold-silver deposits
in Pliocene gravels.
During previous operations all
four types of mineralization were
mined, with high-grade material
passing through a milling circuit,
while lower-grade ore was processed via heap leaching. What
made Sleeper so strong initially
Edgewater uncovers
gold at Corcoesto
in Galicia
4
Pages
Newstrike
Site ViSit
By matthew
keevil
city of La Coruna.
MEXICO
11-15
Capital’s
Ana Paula
gold project
in Mexico’s
Four muy
picks
Guerrero
STOCK
PICKS,
TSX-V:RRI
How Mexico
mantle
mining
nation
April 29-May
5, 2013
NEWSTRIKE
CAPITAL
11-15
SilverCrest
Mines
Analysts:
Christos
cap Securities;
Doulis,
StoneNicholas
Canaccord
Campbell,
Genuity
Endeavour
Bradford Silver’s
shares his Cooke
recipe
Knowledge
is Golden™
www.rivres.com
gold belt.
BY ALISHA
To discern
HIYATE
the winners
crowded
Price target:
field
from
holding
$3.55 (Doulis);
mines
projects
and
$4.25
Rating:
in Mexico, development
Miner
The Northern
asked
(Doulis);
buy (Campbell)
Recent
price:
naccord
Campbell ana- ing
$2.11; 52-week
range:
$1.55 to
tradof
$2.96
Christos
for their Stonecap
Both analysts
Securities,
country. best stock
picked
nior SilverCrest
bets in
resilient
the
While
SVLC-X)
juthe analysts’
Mines
have all
as one
(SVL-V,
price
Mexico-focused
of their
favourite
The company stocks.
recently
metals of the drop
heap-leach
in precious
prices,
put the
picks will
they believe
open-pit,
Santa
mine in
their
state into
their peer
Mexico’s
production
Sonora
This year,
in July
2011.
expects
2.4 million
silver (579,000
equivalent to
oz. silver
oz. gold)
oz.
and 33,500
silver,
of US$8.50
with production
creasing
to 4.6 million
inequivalent
See
20
Page 14
A drill site
at MAG
Silver’s
flagship
Juanicipio
silver property
BY
in Zacatecas
is
state, Mexico.
BY GWEN
VANCOUVER
PRESTON
more exploration
the people
CEO of
—
any other
is excellent,
Endeavour
spending
EndeavourAs founder
are incredibly
and the
and
T, EXK-N),
president
food
Silver
ton are
friendly
likely
according
counbased
to come.
producers
sulting
that
At least
leads
small,
Group,
geologist
Miner
— Fortuna
three
defunct has turned
Mines
Economics
The Northern
capturing
consums up
sat down
two
mines
Peter
Mexican
(FVI-T,
total
an idea
into
with Cooke
Capstone
FSM-N), Silver
in Mexicowhy he is still Megaw metalsworldwideabout 6% of the
silver
of how
to
a rural
ton,
working
after
in just
kid from get cades,
op- izingAlta., became
eight
With the
$21.5 billion.
Hindespite almost four
copa leader
(AEM-T, Agnico-Eagle
budget
Mexico’s
purchase years.
derelated
derachieving
in revitalAEM-N),
of said
violence frequent drugMines
Mining
silver sector.
of a third
protests.
companies
and
gold —
they are
mine,
un- ‘I
plans to
pected
Endeavour
have
Megaw, anti-mining
repeat
got hooked’
panding
considering
to invest
were
International
potentially
the process
president
Mexico
their
In 1976,
in 2012,
— and
Cooke
in
was
of a B.Sc.
and co-founderand
The attraction
with its
MAG
of a
and high-potential
ing to
Silver
growing
in
versity.
result
output
of ber. the Mexican 2010, accordis partly
The marketsat Queen’s
of
So how
land packages.
Uniologists
mining
Recent
the
on MexicanMVG-X),
did Endeavour
were hot.
and has
were in
chamsuch success?
mergers
Mexico
tions
been instrumental
Ge- discovery
near-term
metal
such demand
geology
and acquisitop s
achieve
(
is the
Bradford
il
world’s
Cooke
of several
in the
and
at Christmas.
cer
(P-T, PPP-N)
the list
there.
with
silver
producing
Mining’s
of top-10, a n d
de- Resources
His colleagues
takeover
See ENDEAVOUR,
of Cerro
must agree
in the
(CJO-V)
d’Alene
Page 13
for the
industry
in 2011.
prices
and
N) bestingMines (CDM-T,Coeur year, have fallen Although
it. Mexico
risk
First
CDEsilver
hard
(FR-T,
attracted
US$30
was tradingthis
in
Silver
US$1,657per oz. and
at
gold
per oz.
And more
2012,
M&A
of
to US$17
See MEXICO, and
An Evolution
in High-Grade
Silver
• Mexico’s
Highest
Grade Producer
• Low Net
Cash Costs
800+ g/t
Ag
$5-7/oz
• Optimizing
net of by-products
Production
Increase
Cash Flow
and Grow
Discovery
Mine Life
55M@130
Opportunity
g/t
Mexico’s
• Market
Excellon
TNM April
29 2013
Issue.indd
Yet to be
Resources
Inc. 20 Victoria
Street,
Valued
Suite 900,
Ag; 3.11%
Discovery
Toronto,
Ontario,
Canada
Highest
Page 12
La Platosa
Grade
Mine
Silver
Pb; 1.69%
in a Rising
Producer
TSX.V: GRG
Zn; 0.075
g/t Au
Silver Market
M5C 2N8
TSX:EXN
11
Contact:
Brendan
Cahill 416
[email protected]
364 1130
13-04-24
Commentary
But Barrick founder and chairman Peter Munk vigorously defended Barrick’s decision at the
company’s annual general meeting
on April 24.
“I convinced the board,” he told
the standing-room-only crowd at
the Metro Toronto Convention
Centre. “If you want to give anyone hell, give it to me.”
Munk argued that the new paradigm of mounting resource nationalism requires a brand-new
approach to government contacts. And he said that the challenges of protecting the company’s assets — “90% of which, to
different countries” — meant that
the company needed someone of
Thornton’s exceptional calibre
and “unique credentials,” leverage and access to some of the
world’s most important power
brokers.
“We believe that pay should be
tailored to achievements, that pay
should come after performance,”
Munk said. “It was hard to have
someone paid on performance if he
See Barrick, Page 3
El Tigre Silver
4
in old tailings
Pages
Newstrike
By matthew keevil
WINNEMUCCA, NEV. — For Nevada-based explorer Paramount
Gold and Silver (PZG-T, PZG-X),
there’s a lot to be said for making
something old new again. In mid2010 the company picked up the
B2Gold hits new
gold at developing
Otjikoto mine
By Gwen Preston
and failed deals.
operation.
2014.
Site ViSit
city of La Coruna.
By matthew
keevil
in Mexico’s
STOCK
Excellon
29 2013
Issue.indd
Yet to be
Resources
Inc. 20 Victoria
Street,
PICKS,
in High-Grade
Valued
Suite 900,
Ag; 3.11%
Discovery
Toronto,
Ontario,
Guerrero
TSX-V:RRI
Knowledge
is Golden™
www.rivres.com
gold belt.
How Mexico
mantle
mining
nation
April 29-May
5, 2013
NEWSTRIKE
CAPITAL
11-15
Page 14
Silver
Mexico’s
Highest
Page 12
La Platosa
Grade
Mine
Silver
Pb; 1.69%
in a Rising
Canada
11
Producer
Zn; 0.075
g/t Au
Silver Market
M5C 2N8
TSX:EXN
Contact:
Brendan
Cahill 416
[email protected]
364 1130
13-04-24
the past-producing pit at Paramount Gold and Silver’s Sleeper gold-silver project in Nevada.
Site ViSit
By matthew keevil
By Gwen Preston
and failed deals.
operation.
Sleeper lies within the western
reaches of the northern Nevada
rift, specifically along the Slumbering Hills, which consists of
Mesozoic meta-sedimentary rocks
of the Auld Lang Syne group and
Cretaceous granitic intrusions.
Mineralization at Sleeper falls into
four main categories, including:
gold project
Endeavour
Bradford Silver’s
shares his Cooke
recipe
An Evolution
• Mexico’s
Highest
Grade Producer
• Low Net
Cash Costs
800+ g/t
Ag
$5-7/oz
• Optimizing
net of by-products
Production
Increase
Cash Flow
and Grow
Discovery
Mine Life
55M@130
Opportunity
g/t
• Market
TNM April
Sleeper was one of the lowest-cost
gold mines in the world, and Paramount believes the old mine has a
robust future.
Sipping coffee inside Paramount’s headquarters in the mining town of Winnemucca, vicepresident of exploration Glen van
Treek, who joined Paramount
going forward.
B2Gold hits new
EdgewaterPhoto
uncovers
by MAtthew Keevil
gold at developing
Otjikoto mine
in Galicia
robust future.
going forward.
Ana Paula
BY ALISHA
SilverCrest
Mines
Analysts:
Christos
cap Securities;
Doulis,
StoneNicholas
Canaccord
Campbell,
Genuity
gold at Corcoesto
Site ViSit
MEXICO
11-15
Capital’s
Four muy
picks
To discern
HIYATE
the winners
crowded
Price target:
field
from
holding
$3.55 (Doulis);
mines
projects
and development
$4.25
Rating:
Miner in Mexico, The
asked
Northern
(Doulis);
buy (Campbell)
Recent
price:
naccord
Campbell ana- ing
$2.11; 52-week
range:
$1.55 to
tradof
$2.96
Christos
for their Stonecap
Both analysts
Securities,
country. best stock
picked
nior SilverCrest
bets in
resilient
the
While
SVLC-X)
juthe analysts’
Mines
have all
as one
price
Mexico-focused
of their (SVL-V,
favourite
The company stocks.
recently
metals of the drop
heap-leach
in precious
prices,
put the
picks will
they believe
open-pit,
Santa
mine in
their
state into
their peer
Mexico’s
production
Sonora
This year,
in July
2011.
expects
2.4 million
silver (579,000
equivalent to
oz. silver
oz. gold)
oz.
and 33,500
silver,
of US$8.50
with production
creasing
to 4.6 million
inequivalent
See
20
A drill site
at MAG
Silver’s
flagship
Juanicipio
silver property
BY
in Zacatecas
is
state, Mexico.
BY GWEN
VANCOUVER
PRESTON
more exploration
the people
CEO of
—
is excellent,
any other
Endeavour
spending
EndeavourAs founder
are incredibly
and the
and
T, EXK-N),
president
food
Silver
ton are
friendly
likely
With theseis delicious.”
a big part Godfrey Walaccording
counbased
to come.
producers
sulting
that
leads
At least
small,
Group,
geologist
Miner
— Fortuna
three
defunct has turned
Mines
Economics
The Northern
concapturing
sums up
sat down
two
mines
Peter
Mexican
(FVI-T,
total
an idea
into
with Cooke
Capstone
FSM-N), Silver
in Mexicowhy he is still Megaw metalsworldwideabout 6% of
silver
of
the per;
to get
Mining
silver;
ton, Alta., how a rural kid
working
after
in just
cades,
and
(CS-T),
eight
opfrom Hinbecame
With the
$21.5 billion.
despite almost four
izing Mexico’s
a leader
budget
purchase years.
derelated
derachieving
in revitalof said
AEM-N),
violence frequent drugMining
of a third
silver sector.
Mines
protests.
and
companies
gold —
mine,
they are
un- ‘I
plans to
pected
Endeavour
Megaw, anti-mining
have
got hooked’
repeat
panding
considering
to invest
were
International
potentially
the process
president
Mexico
their
In 1976,
in 2012,
— and
Cooke
in
was
of a B.Sc.
and co-founderand
with its
The attraction
MAG
of a
and high-potential
ing to
Silver
growing
in
versity.
result
output
of ber. the Mexican 2010, accordThe marketsat Queen’s
is partly
of
So how
land packages.
Uniologists
mining
Recent
the
on MexicanMVG-X),
did Endeavour
were hot.
and has
were in
such success?
chammergers
Mexico
tions
been instrumental
Ge- discovery
near-term
metal
such demand
geology
and acquisitop s
achieve
(
is the
Bradford
il
world’s
Cooke
of several
in the
and
at Christmas.
cer
(P-T, PPP-N)
the list
there.
silver
with
producing
Mining’s
deof top-10, a n d
His colleagues
See ENDEAVOUR,
Resources takeover
must agree
of Cerro
in the
(CJO-V)
d’Alene
Page 13
for the
industry
in 2011.
prices
and
Although
have
N) bestingMines (CDM-T,Coeur
it. Mexico
fallen
year,
risk
First
CDEsilver
hard
(FR-T,
attracted
U S$30
was tradingthis
in
Silver
per oz.
US$1,657
at
a
And more
per oz. nd gold
2012,
M&A
of
to US$17
See MEXICO, and
Barrick investors
revolt against
$11.9m bonus
multi-billion dollar overrun at its
flagship development project in
Chile, taken a $3.8-billion charge
on a highly criticized acquisition,
changed its chief executive officer
and seen its share price sliced in
half.
So it was no great surprise that
eight funds who are invested in the
gold major formally protested the
company’s decision to offer cochairman John Thornton an “unprecedented” signing bonus of
$11.9 million.
The group of seven Canadian
pension funds and one international investment fund say the
signing bonus, which would bring
Thornton’s total compensation
for 2012 to $17 million, is a Canadian record.
“This compensation is inconsistent with the governance principle of pay-for-performance
and is therefore disproportionate and sets a troubling precedent in Canadian capital markets,” the group said in a
statement. As a group these funds
collectively manage over $900
billion in assets.
www.findmespot.com
5:28 PM
See ParaMount, Page 2
PM40069240 – PAP Registration #09263
www.findmespot.com
El Tigre Silver
in old tailings
2014.
See B2GoLd, Page 3
5:28 PM
TSX.V: GRG
Commentary
Barrick investors
revolt against
$11.9m bonus
www.findmespot.com
El Tigre Silver
4
in old tailings
Pages
Newstrike
MEXICO
11-15
Capital’s
Ana Paula
gold project
in Mexico’s
Four muy
picks
Guerrero
STOCK
PICKS,
TSX-V:RRI
How Mexico
mantle
mining
nation
April 29-May
5, 2013
NEWSTRIKE
CAPITAL
11-15
SilverCrest
Mines
Analysts:
Christos
cap Securities;
Doulis,
StoneNicholas
Canaccord
Campbell,
Genuity
Endeavour
Bradford Silver’s
shares his Cooke
recipe
Knowledge
is Golden™
www.rivres.com
gold belt.
BY ALISHA
To discern
HIYATE
the winners
crowded
Price target:
from
field
holding
$3.55 (Doulis);
mines
projects
and
$4.25
Rating:
in Mexico, development
Miner
The Northern
asked
(Doulis);
buy (Campbell)
Recent
price:
naccord
Campbell ana- ing
$2.11; 52-week
range:
$1.55 to
tradof
$2.96
Christos
for their Stonecap
Securities, Both analysts
country. best stock
picked
nior SilverCrest
bets in
resilient
the
While
SVLC-X)
juthe analysts’
Mines
have all
as one
(SVL-V,
price
Mexico-focused
of their
favourite
The company stocks.
recently
metals of the drop
heap-leach
in precious
prices,
put the
they believe
picks will
open-pit,
Santa
mine in
their
state into
their peer
Mexico’s
production
Sonora
This year,
in July
2011.
expects
2.4 million
silver (579,000
equivalent to
oz. silver
oz. gold)
oz.
and 33,500
silver,
of US$8.50
with production
creasing
to 4.6 million
inequivalent
See
20
Page 14
A drill site
at MAG
Silver’s
flagship
Juanicipio
silver property
BY
in Zacatecas
state, Mexico.
is
BY GWEN
VANCOUVER
PRESTON
more exploration
mining
the
MAG SILVER
pothe people geology is
CEO of
— As founder
any other
Endeavour
spending
Endeavour
are incrediblyexcellent,
and the
and
T, EXK-N),
president
try in 2012,Latin American than
food
Silver
ton are
friendly
is likely
according
a company Bradford Cooke(EDRcounto come.
based
Earlier
producers
that
At least
leads
this year, of the answer. sulting
small,
Group,
geologist
Miner sat
— Fortuna
three
defunct has turned
Mines
Economics
capturing
contwo
mines
down withThe Northern sums up why
Peter
Mexican
(FVI-T,
total
an idea
into
Megaw
Capstone
worldwideabout 6% of
FSM-N), Silver
Cooke
he
silver
of
the
metals
to get in Mexico after is still working
ton, Alta., how a rural kid
in just
almost
from Hin- cades, despite
became
opeight
With the
$21.5 billion.
izing Mexico’s
four dea leader
budget
purchase years.
in revital- related violence frequent
derachieving
of
silver sector.
Mining
of a third
said they AEM-N), gold Mines
drugprotests.
companies
and
unmine,
plans to
pected
— have
are considering
Endeavour ‘I got
Megaw, anti-mining
repeat
panding
to invest
were
International
hooked’
potentially
the process
president
Mexico
$7.6 billion exexects in their portfolio
in
— and In 1976, Cooke
Exploration Development of
silver majorattract the attention
Mexico.
what they 2012, more than
in
of projwas
of a B.Sc.
and co-founderand
The attraction
with its
MAG
of a
and high-potential
ing to the spent in 2010, double
Silver
growing
result
at Queen’s
output versity. The
Mexican
of
accordis partly
of
So how
ber. Recent
land packages.
markets
Uniologists
mining
the
on MexicanMVG-X),
did Endeavour
were hot.
and has
were in
chammergers
such success?
Mexico
tions
been instrumental
Gemetal
geology
such demand
and acquisitop s
achieve near-term grads
(
is the
discovery
Bradford
il
world’s
that
job offers
were
Cooke
of several
in the
posits
and
at Christmas.flooded with
cer
(P-T, PPP-N)
the list
there.
silver
producing
Mining’s
of top-10, a n d
deHis colleagues
See ENDEAVOUR,
Resources takeover
of Cerro
must agree
in the
(CJO-V)
d’Alene
Page 13
for the
industry
in 2011.
prices
and
Although
have
N) bestingMines (CDM-T,Coeur
it. Mexico
fallen
yea r,
risk
First
CDEsilv er
hard
(FR-T,
attracted
this
US $ 3 0
wa s tra
in
Silver
ding
US$1,657p er oz. an
d go ld a t
And more
per oz.
2012,
M&A
of
to US$17
and
See MEXICO,
An Evolution
in High-Grade
Silver
• Mexico’s
Highest
Grade Producer
• Low Net
Cash Costs
800+ g/t
Ag
$5-7/oz
• Optimizing
net of by-products
Production
Increase
Cash Flow
and Grow
Discovery
Mine Life
55M@130
Opportunity
g/t
Mexico’s
• Market
Excellon
TNM April
29 2013
Issue.indd
Yet to be
Resources
Inc. 20 Victoria
Street,
Valued
Suite 900,
Ag; 3.11%
Discovery
Toronto,
Ontario,
Highest
Page 12
La Platosa
Grade
Mine
Silver
Pb; 1.69%
in a Rising
Canada
11
Producer
Zn; 0.075
g/t Au
Silver Market
M5C 2N8
TSX:EXN
Contact:
Brendan
Cahill 416
[email protected]
364 1130
13-04-24
5:28 PM
multi-billion dollar overrun at its
flag
Site ViSit
By matthew keevil
Edgewater uncovers
gold at Corcoesto
in Galicia
Site ViSit
By matthew
keevil
city of La Coruna.
robust future.
going forward.
B2Gold hits new
gold at developing
Otjikoto mine
By Gwen Preston
and failed deals.
operation.
2014.
See B2GoLd, Page 3
Empower Your Team
With Analysis From
The Northern Miner
See B2GoLd, Page 3
both fell 13%.
The mill, however, processed a
record 209,188 tonnes in the first
quarter and remains above design
recoveries, with recoveries averaging
89% zinc, 88% lead and 76% silver.
Quarterly sales totalled 23.3 million equivalent lb. zinc — up nearly
4% from a year ago — and generated
US$20 million in revenue, which
is relatively in line with the first
quarter of 2015. The higher sales
were offset by lower average realized
metal prices of US82¢ per lb. zinc,
US82¢ per lb. lead and US$15.32
per oz. silver.
Despite the lower year-to-year
prices, site cash costs fell 28% to
US28¢ per zinc equivalent lb. zinc.
Cash costs per tonne milled dropped
34% year-over-year to US$32.22,
due to higher zinc production and
the company’s “site-wide business
initiatives.”
Cost per tonne milled is down
17% from the previous quarter’s
US$38.70, and below 2016’s cost
guidance of US$40 to US$43. Trevali
has trimmed its annual guidance
12%, or US$5 per tonne to US$35
to US$38.
“Following the impressive cost
reductions, in part aided by a 60%
decrease in power costs and improved pricing on bulk fuel, Trevali
has reduced its yearly on-site cost
guidance,” Terentiew writes.
Meanwhile, Trevali is completing
a 3,000-metre underground drill
program at Santander to convert its
inferred tonnes to a higher resource
category and to follow up on the
2015 holes that tested the deeper
levels below the defined resources
in the Magistral zones.
At the Caribou operation, underground production for the first
four months of 2016 averaged 2,062
tonnes per day grading 6% zinc, 2.8%
lead and 2.4 oz. silver per tonne (74.6
grams per tonne). The firm intends
to ramp up Trevali to commercial
production of 2,500 to 2,700 tonnes
per day by the end of June.
It also aims to bring up recoveries to design levels of 84% zinc and
65% lead. The average recoveries for
April were 74% zinc and 57% lead.
Trevali reported net earnings of
$827,000, or nil per share, in the
first quarter, which is relatively in
line with analysts’ average earnings estimate of a cent per share.
Santander generated a $4.2-million
income, helping push up the company’s cash position to nearly $27
million. Trevali also completed a
$15-million equity raise in March.
Terentiew has bumped up his
90¢-per-share target to 95¢, “as
lower cost assumptions at Santander
more than offset our lower steadystate zinc recoveries at Caribou,”
he explains. The analyst has an
“outperform” rating on Trevali. TNM
2016 05 31 6 17 PM
GLOBAL MINING NEWS
Regional Manager Industrial
Minerals, Exploration &
Development Canada
Artisanal Gold Programme Officer
Ottawa, Canada
15
Mineral Exploration and Development Consultant
Timmins, On. Canada
Reporting to the Director Competence Center Materials – Canada Region,
Partnership Africa Canada (PAC) is a global leader in developing innovative
Are you looking for an exciting opportunity in one of Canada’s most prolific
this position is responsible for leading the Mineral Exploration & Resource
approaches to strengthen natural resource governance in high-risk and
and active mining areas? If so, consider this exceptional opportunity with
Development team as well as the development, planning and execution of
conflict regions. For 30 years, PAC has collaborated with partners to promote
the Ministry of Northern Development and Mines.
exploration projects on schedule, on budget, in alignment with the
policy dialogue and solutions for sustainable development. The Just Gold
Playing a key role in the monitoring and stimulation of exploration, you will
Company’s exploration strategy and in close coordination with internal and
project aims to develop an independent, equitable and sustainable system
lead and deliver the mineral exploration and development program, guiding
external stakeholders.
that brings legal, conflict-free and traceable gold from artisanal mine sites
components through the regulatory process.
in the Democratic Republic of Congo to international markets.
Mine Planning Engineer /
Technician
British Columbia, Canada
Geotechnical Engineer
Rainy River, Ontario,
Chief Mining Engineer
Nevada, USA
In this role, you will use your expertise to provide complex specialist
The Chief Mining Engineer is responsible for the development and
Do you want to be part of the development and start-up of one of Canada’s
underground planning services that support quarterly and annual
implementation of practical mine plans which allow for orderly development
premier mining operations? We are looking for dynamic individuals to join
projections. Your responsibilities will encompass all aspects of the mine’s
and exploitation of economically minable ore reserves. Oversees the
our team and live in our community as we pursue this exciting project. A
value chain, from mining reserves and resources to the production of
development of holistic long and short range mine plans including mine
competitive salary, performance bonus plan, and benefits, will be provided.
quality ore for processing.
services, infrastructure, and production. Supervises all technical personnel
related to Mine Engineering, including contractors.
Mine Operations Manager
Wells, BC, Canada
Mine Technologist
Timmins, ON. Canada
Sr. Engineer, Maintenance
McArthur River
Saskatchewan, Canada
Lake Shore Gold Corporation is
Roles and Responsibilities: Leader for the safe and sustainable development
seeking a Mine Technologist to support the Engineering department at our
of the Bonanza Ledge Mine operations; Responsible of the achievement
Timmins Mine site. General duties will include assisting in the long and short
Reporting to the chief engineer, maintenance in the maintenance engineer-
of the production and profitability objectives; Managing the complete
range designs for all three mines within the Timmins West Complex.
ing department, your knowledge of equipment and mechanical design will
mining operations of the Bonanza Ledge Mine (contract mining and milling
be relied upon to support surface and underground operations. Additionally,
operations); Assessing the feasibility and the potential for commercial ben-
you will supervise a team of maintenance technologists and provide
efits of new sites; Managing budgets; Training and supervising staff.
technical design and planning expertise for capital and expense projects
on site.
Sr. Specialist, Environmental
Affairs
Saskatoon, SK, Canada
General Manager, Long Harbour
Operations
Mount Arlington Heights,
Newfoundland & Labrador
British Columbia Securities
Commission
Vancouver, BC. Canada
As the Senior Geologist/Engineer you will conduct in-depth reviews and
As the General Manager, Long Harbour Operations, you are responsible
The sr. specialist, environmental affairs will be an effective and strong
analysis of technical reports and other scientific or technical disclosure,
for providing leadership and direction for a team of over 400 individuals.
problem solver, collaborator and communicator that is able to lead teams
including disclosure of resources and reserves. You will work with and
Reporting to the Vice-President of Operations, you are responsible for
with multiple departments and personalities to achieve business objectives.
provide expert advice to Commission staff, as well as interface with public
continuing the safe production ramp-up of the LHPP and ensuring
The sr. specialist will have strong technical expertise, advanced skills in
companies and the mining industry on securities related matters.
that systems and process management procedures are developed, imple-
data compilation and analysis and will have demonstrated strong oral and
mented and standardized to secure the current and long-term success of
written communication skills.
the facility.
Journeyperson Industrial
Mechanic
Northern Saskatchewan Sites,
Canada
You will be responsible for the installation, preventative maintenance
and repair of all mechanical equipment on site. This will include repairs to
equipment on surface and underground, as well as troubleshooting equipment failures and documenting repairs. You will be responsible for reading
and interpreting blueprints, technical manuals and work procedures.
Recruit smarter with mining jobs
The Northern Miner’s new section dedicated
to recruiting in mining
One listing is all you need
Print Edition. Circulated to TNM 20K+ readership
+
4 industry Job Boards
Company Private
Chief Engineer
Salt Lake City, Utah
Company is currently looking for a Chief Engineer to be responsible for the
overall mechanical/structural/electrical design and integrity of the Crusher
CANADIAN
Mining Journal
product line, driving the product line to be the world class market leader.
Management of the activities related to developing and maintaining equipment designs.
Email [email protected] or call 416-510-6772 and
s t a r t r e c r u i t i n g s m a r te r t o d a y
For full job details visit MINING-JOBS.NET and enter the Job Name in the search field
15-JUN6_NEW-MiningJobs.indd 15
16-05-31 5:31 PM
16
A drill site at Focus Ventures’ 70%-owned Bayovar 12 phosphate property in northern Peru’s Sechura district, 70 km south of the city of Piura. FOCUS VENTURES
S U B S C R I P T I O N
3 Easy Ways to Order:
Focus revises
plans for Bayovar
F O R M
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Over 40
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e
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1 2 3 4 5 11 13 14 16_Jun6_Main .indd 16
| Higher investment speeds up access to pay dirt
F
[email protected]
ocus Ventures (TSXV: FCV)
has updated a prefeasibility
study at its Bayovar 12 phosphate property, 70 km south of the
city of Piura, Peru. It envisages a a
US$168-million development that
could produce 1 million tonnes of
fertilizer product annually over
a 20-year life, and hopefully tap
into South Americas's the growing
direct-application fertilizer market.
The Bayovar phosphate deposit is a
40-metre thick, laterally continuous and shallow mineralized zone
overlain by 30 metres of overburden.
Since the material in the proposed
open pit is all “free-digging,” it
would not likely not require drilling
or blasting during mining.
Mineralized material would be
mined at a rate of 8,000 tonnes per
day from 13 sedimentary phosphate
beds, interlayered with diatomite
waste, or “interburden.” Bayovar
hosts “proven and probable reserves”
of 59 million tonnes grading 12.9%
phosphate (P 2O5), and indicated
resources of 210 million tonnes
averaging 13% P2O5.
Focus’ beneficiation process
would involve drum-washing with
seawater and recycled process water,
size classification, attrition scrubbing, hydraulic classification, filtering and rotary drying. The process
plant is designed to produce, on a
batch basis, either a 24% or 28%
P2O5 direct-application phosphate
rock fertilizer (DAPR).
“The mine plan was simplified so
that we would start operations in
the south of the deposit, and move
progressively northward,” president
and CEO David Cass said during a
conference call.
“Higher investment in pre-stripping allows us to access all of the
phosphate beds sooner and reach
production capacity by year two.
In addition, instead of having two
smaller processing plants, we’re
now looking at a single, larger facility, which equates to more upfront
capital, but reduces overall operating
costs,” he added.
Geologists sample outcrops at the Bayovar 12 phosphate project in Peru. FOCUS VENTURES
Bayovar’s capital expenses have
jumped 32%, compared to previous
studies, but the upfront investment
has been offset by improved economics. The project now features a
26.4% internal rate of return, and
the after-tax net present value has
risen 81% to US$458 million at a 7.5%
discount rate. Focus estimates that it
can now produce DAPR products at
cash margins of US$105 per tonne.
The company achieved the economic improvements without altering its underlying phosphate
price decks. In 2015, exports of
comparable phosphate material
yielded prices from US$124 to $163
per tonne.
Since the sedimentary phosphate
deposit wouldn't require a starter pit,
the compnay says capital payback depends on hitting nameplate process
capacity and keeping “low operating
costs” early in the mine’s life.
Bayovar’s reactive phosphate rock
looks a bit like fine-grained sand,
and is made up of brownish particles
of natural phosphorus minerals
— mainly the calcium phosphate
mineral apatite — that can be applied
directly to pasture or crops. It can
also be upgraded to a concentrate
by washing and flotation for use in
making phosphoric acid.
“Although the mine schedule is
limited to 20 years, resources exist
outside the mine-plan pit, so there
is an opportunity for expansion of
resources and reserves,” Cass noted.
Focus Ventures shares have traded
in a 52-week range of 5¢ to 24¢, and
closed up 26% at 9¢ per share upon
release of the updated study. The
company had 120 million shares
outstanding for a $13-million market
capitalization at press time, and
reported cash resources of $820,000
at the end of February.
Focus said discussions are underway with “several financial institutions” to fund bulk-sampling and a
feasibility study.
“We’re located in an established
mining region close to a port, and
within easy shipping distance of one
of the world’s fastest-growing fertilizer markets,” Cass said. “Bayovar
rock is arguably the most reactive
phosphate rock in the world, which
makes it ideal for use as directapplication fertilizer in tropical
environments.” TNM
2016-05-31 5:41 PM

Veteran miner Kerry Knoll bets on moly renaissance

Transcription

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