The Northern Miner December 24 2018 Issue 26

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Minaurum shows size potential at Alamos SITE VISIT

| Junior hunts for silver and gold in Mexico’s Sierra Madre

Steppe Gold nears production at ATO GOLD-SILVER

| First bullion from heap-leach mine expected in Q2 2019

BY TRISH SAYWELL tsaywell@northernminer.com

S

ince Steppe Gold (TSX: STGO) bought Altan Tsagaan Ovoo (ATO) from Centerra Gold (TSX: CG) for $19.8 million in January 2017, the junior has made steady progress de-risking and building the heap-leach, gold-silver mine in eastern Mongolia.

Seven months after the acquisition last year, the company teed-up a US$23-million gold and silver stream agreement with Triple Flag Mining Financing, and raised US$25 million in an initial public offering in May 2018 (with 12.5 million shares at $2 per share).

Minaurum Gold VP of exploration Stephen Maynard (far left) examines freshly drilled core on the company’s Alamos silver project in Mexico. PHOTO BY RICHARD QUARISA

BY RICHARD QUARISA rquarisa@northernminer.com ALAMOS, MEXICO

T

hanks to a late rain, it’s unusually green on the Sierra de Alamos as we drive onto Minaurum Gold’s (TSXV: MGG; US-OTC: MMRGF) Alamos silver property in late November 2018.

We enter via the small town of La Aduana — an old mining town, where the Spanish settled when they came to the region in the 1600s.

The Alamos project is in the southern part of Mexico’s Sonora State. Minaurum optioned it in 2016 for cash payments totalling $600,000, 6 million shares and $3 million in work expenses. The company has since quadrupled the

project to 164.4 sq. km and amassed 14 vein systems ranging from 500 metres to 2.5 km in length. It aims to make at least a couple more big hits: vein discoveries that are wide, high grade and far apart.

When the company began exploring the property, it knew of several veins hosting the historic Promontorio, Minas Nuevas and La Quintera mines, where, between 1680 and 1930, various miners produced more than 150 million oz. silver.

“They probably produced a larger amount,” Minaurum vice-president of exploration Stephen Maynard says during a site visit hosted by the company. “But that’s the minimum.”

The La Quintera Mining Co. mined Quintera-Promontorio in

the late 1800s and early 1900s, moving ore via a tram system down to La Aduana for smelting. It closed its mine in 1907 after the silver price collapsed. The area saw minor production afterwards.

“The reason it wasn’t mined more recently is the mining claims were fragmented and hard to consolidate,” Maynard says. “The family who optioned it to Minaurum was able to do that consolidation.”

Promontorio has a strike length of 800 metres. The company has drilled it to a depth of 200 metres.

It remains open along strike to the south and at depth.

Minaurum tested it with two holes in 2017. Those cut 154.1 grams silver per tonne, 0.2 gram gold per tonne gold, 0.5% copper, 2.3% lead and 6.8% zinc over 20 metres from

82 metres downhole, and 81 grams silver, 0.1 gram gold, 0.14% copper, 3.23% lead and 2.72% zinc over 8.5 metres from 124 metres downhole.

“This is not what’s going to make us, but it’s worth looking at, because it’s instructive,” Maynard says.

“This is not where the glory is for us, but I’m not saying forget about it. This is part of the inventory.”

Minaurum president and CEO Darrell Rader adds that “in this market, you get taken over for new, high-grade discoveries, so that’s what we’re looking for. At Promontorio we planned to drill through the historic vein in order to test new targets to the east. We lost both holes after discovering a new vein in the hangingwall.”

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Looking over a map at the Alamos project in Mexico, from left: Minaurum Gold president and CEO Darrll Rader; VP of exploration Stephen Maynard; and director David Jones. PHOTO BY RICHARD QUARISA

Minaurum shows size potential at Alamos MINAURUM From 1

By the end of 2017 the company had found several new veins — including Amalia, Tigre and EuropaGuadalupe — through geological mapping and sampling. It was trying to understand the system’s geological framework, and drilled EuropaGuadalupe in December 2017.

Continued mapping and sampling has added new vein zones. The Alamos vein footprint now covers a 50 sq. km area. Its newest vein system, Alessandra, covers 1.1 km in strike length. Maynard thinks Alamos might be able to extend it another kilometre. If it can, Alessandra will become the project’s second-longest vein system, after Europa Guadalupe, which has a 2.5 km strike length.

“The point is to develop an inventory of these vein zones,” Maynard says. “We plan to drill a hole or two

into each new vein and then step back and say, ‘how do we prioritize these?’”

Minaurum recently sampled 102 grams gold and 4.6% copper at Alessandra, which lies in the eastern part of the project, 1 km southeast of the Ana zone. Alessandra stretches more than 4 metres wide in surface exposures. The company says it could extend another 1 km southeast. Rock samples at Alessandra, however, register low silver values.

A float grab sample graded 35 grams silver and an outcrop chip samples graded 29 grams silver.

The company drilled 2,770 metres across eight holes in its 2017 drill program. Maynard calls hole 7, drilled west of La Quintera, the campaign’s most significant hole.

It shows mineralization like that historically mined at La Quintera, in terms of grade and width.

Hole 7 cut 8 metres grading 1,760

A topographical feature on Minaurum Gold’s Alamos silver project. PHOTO BY RICHARD QUARISA.

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grams silver, 0.06 gram gold, 1.6% copper, 1.48% lead and 2.6% zinc from 535 metres downhole in the Europa-Guadalupe vein system.

Surface sampling along Europa returned assays as high as 1,205 grams silver, 3.19% copper, 1.9% lead and 1.44% zinc.

The company has drilled another six holes at Alamos this year, and is in the midst of a 5,000-metre drill program. The company will drill at least seven untested veins, including Pulpito, Cotera, Tigre, Ana, Amalia and Promontorio Sur. Those veins combine for more than 5 km of strike length, with samples from Pulpito and Cotera grading as high as 1,495 grams silver and 3.81% copper, and 1,370 grams silver and 3.39% copper.

“We don’t see the 5,000-metre program as a limit,” Maynard says. “It’s actually minimum 5,000 metres.”

The drill program will probe new

vein areas and test the company’s “piano key” model. The company hypothesizes certain blocks of Alamos are up-thrown and others are down-thrown, like piano keys. Upthrown blocks include La Quintera and Promontorio. In those blocks, gold and silver mineralization is closer to surface, or even exposed.

It says the down-thrown blocks also contain gold-silver mineralization, but deeper underground. It says it has made multiple discoveries in down-thrown blocks — like the Europa Guadalupe discovery, which it intersected 325 metres below surface, and the Minas Nuevas target, where it cut 95.9 grams silver over 18 metres from 72 metres downhole, as well as 53.7 grams silver over 13 metres from 76 metres downhole in 2017. The company spaced those two holes 150 metres apart and says the target could host a bonanza zone at depth.

“We’re drilling for structure hoping that we hit a silver shoot,” Rader says. “At Europa-Guadalupe we were lucky and hit a shoot along with a number of veins not exposed on surface.”

He says the company aims to quantify the size potential at Alamos before drilling off a resource at the project.

Part of the company’s Alamos property sits on a reserve area subject to stricter exploration regulations.

The company is not allowed to drill at night on the reserve area, for example, although it expects that will change. It also takes a little longer to permit drill pads in the reserve — about a month and a half — but Minaurum doesn’t see that as much of a concern, either. It has already permitted more than 100 drill pads inside the reserve.

The idea behind the reserve is that natural resources within its boundaries are exploited sustainably, and don’t negatively affect future generations.

Alamos sits near Pan American Silver’s (TSX: PAAS; NASDAQ: PAAS) past-producing Alamo Dorado silver mine, Coeur Mining’s (NYSE: CDE) Palmarejo silver-gold

“WE ARE DRILLING FOR STRUCTURE, HOPING THAT WE HIT A SILVER SHOOT.” DARRLL RADER PRESIDENT AND CEO, MINAURUM GOLD

mine and Agnico Eagle Mines’ (TSX: AEM; NYSE: AEM) Pinos Altos gold-silver mine — among others. It shares a border with Cobre del Mayo’s Piedras Vierdes copper mine.

Although the site visit focused on Alamos, Minaurum has several other Mexican silver properties. Its nearby Adelita silver-copper skarn and porphyry discovery borders the Alamo Dorado silver mine. The company drilled 5,000 metres at Adelita in 2010 and 2012. Its targets remain open along strike and at depth.

Mexico’s Oaxaca-Chiapas region hosts the company’s Santa Marta gold-copper project and Aurena gold project. The company is in the last stages of drill permitting at Santa Marta.

Shares of Minaurum are trading at 47¢ with a 52-week range of 20¢ to 67¢. The company has a $145-million market capitalization.

Its board includes MAG Silver’s (TSX: MAG) Peter Megaw and geologist David Jones, who discovered Leagold Mining’s (TSX: LMC) Los Filos gold deposit.

It has $7.5 million in the treasury, and anticipates having $9.5 million by year-end. TNM

Correction In “Fortuna’s Lindero on track for production in Q3 2019” (T.N.M., December 10–23/18), a photo of the Lindero project in Argentina was incorrectly captioned as the unrelated Thacker Pass project.

2018-12-18 9:40 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / DECEMBER 24, 2018–JANUARY 6, 2019

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Capstone doubles Cozamin mine life with boosted reserves COPPER

| New infrastructure to improve processing rate by 30%

BY RICHARD QUARISA

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rquarisa@northernminer.com

apstone Mining (TSX: CS; US-OTC: CSFFF) has increased reserves at its Cozamin polymetallic mine in Zacatecas, Mexico, by 89%, after drilling the project for the past year and a half.

The company is still drilling the project — but cut-off data for its latest update in October 2018 — and doesn’t say when it will stop.

“Because it’s an underground mine it tends to take a couple years of drilling before you can update a reserve or a resource,” company president and CEO Darren Pylot says during a telephone interview with The Northern Miner. “It’s a lot more drilling intensive.”

The project now has 6.19 million probable tonnes grading 1.6% copper, 42.89 grams silver per tonne, 0.71% zinc and 0.14% lead for 99,000 tonnes copper, 8.54 million oz. silver, 44,000 tonnes zinc and 8,000 tonnes lead.

Inclusive of reserves, the project also has 17.28 million measured and indicated tonnes grading 1.5% copper, 45 grams silver, 1.25% zinc and 0.28% lead for 259,000 tonnes copper, 24.85 million oz. silver, 215,000 tonnes zinc and 48,000 tonnes lead. It also has 16.9 million inferred tonnes at 1.11% copper, 44 grams silver, 1.65% zinc and 0.29% lead for 188,000 tonnes copper, 23.9 million oz. silver, 279,000 tonnes zinc and 49,000 tonnes lead.

The company tabled a resource for the project in March 2018 that increased its measured and indicated resources over 100%. Between March and December 2018, the company worked to convert those measured and indicated resources into reserves. As a result, it has doubled the mine’s life to eight years.

“We’ve got a very good shot at converting a lot of that inferred

Longhole drilling at Capstone Mining’s Cozamin polymetallic mine in Zacatecas, Mexico. CAPSTONE MINING

into further mine life,” Pylot says.

“We feel confident that we’ve got 10-plus years of mine life now, and when we started the year, we had less than four.”

Cozamin is open to the west, up dip and along strike of the current deposit, where the company has hit wider intersections of higher-

Crushed ore on a conveyor at Capstone Mining’s Cozamin mine. CAPSTONE MINING

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grade mineralization than what it has typically mined at the project.

Pylot says the “guts of the system seem to be higher up, not lower, as the company originally thought.”

The deposit is open down dip, as well.

“We haven’t hit the limits of anything yet,” Pylot says.

Along with the reserve update, Capstone is implementing the results of a materials handling study done earlier this year that concluded congestion on the mine’s haulage ramp has limited processing rates.

The company will spend $5 million to connect two ramps underground to create one traffic loop.

The company expects its new underground infrastructure will boost Cozamin’s processing rate 30% to 3,780 tonnes per day, and its annual production to between 40 and 45 million lb. copper, from the more than 36 million lb. copper it produced in 2017.

Capstone has already begun building the haulage loop, and aims to finish in 18 months or less.

“Hopefully we’re exiting 2019 with it essentially complete,” Pylot says.

Capstone is contemplating more changes at its Santo Domingo ironoxide-copper-gold project in Chile, where it may sell a portion of its 70% ownership to bring in a partner that would help finance the project. It will also evaluate streaming options.

Capstone recently tabled an updated technical report on Santo Domingo estimating a US$1.03billion, after-tax net present value at an 8% discount rate, and a 21.8% after-tax internal rate of return. The project would produce 259 million lb. copper per year during its first five years, and 134 million lb. copper per year over its nearly 18-year life. It would cost US$1.51 billion to build.

“It’s too big of a project for Capstone to build on its own,” Pylot says. “If we wanted to get going on it in 2020, we’d have to wait for copper to be higher for longer, and we

think it’s better to put this project into production sooner rather than later, and take advantage of what we think will be a shortage in the copper market.”

Korea Resources Corp. — South Korea’s state-owned mining company — owns the other 30% of Santo Domingo. Pylot says that the Korean government is going through changes that will mandate that it sell all its investments outside of Korea.

“They would sell their 30%,” Pylot says. “We’d like to be right at that 50% ownership, plus or minus a couple percent ... we can handle half of the financing with our existing operations at US$3 copper, and the proceeds we get from selling down our interest.”

The company aims to finish two preliminary economics assessments in 2019. The first would consider a separate cobalt project at Santo Domingo. The company previously had not factored Santo Domingo’s cobalt resource into the project’s economics.

Santo Domingo has 537 million measured and indicated tonnes grading 0.3% copper, 0.039 gram gold, 25.7% iron and minor cobalt.

“We’re going to do some more drilling to get better samples for

us to do a pilot plant for iron and copper,” Pylot says. “Some of that drilling that we’d already be doing for the iron and copper we’ll be using for more metallurgical testing on the cobalt.”

The second study would assess the cost of expanding its Pinto Valley copper mine in Arizona and upgrading more of the project’s resources to reserves. Pinto Valley produced 39,000 tonnes copper in the first three quarters of 2018. It has 1.34 billion measured and indicated tonnes grading 0.3% copper and 0.005% molybdenum for 3.99 million tonnes copper and 74,000 tonnes molybdenum, including 429 million proven and probable tonnes grading 0.31% copper and 0.006% molybdenum for 1.33 million tonnes copper and 26,000 tonnes molybdenum.

Capstone Mining shares are trading at 49¢ with a 52-week range of 48¢ to $1.62. The company has a $195-million market capitalization.

In October 2018, the company put its Minto copper mine in Yukon on care and maintenance after Pembridge Resources (LON: PERE) failed to finance its acquisition of the project. Capstone is shopping the project to other companies. TNM

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DECEMBER 24, 2018–JANUARY 6, 2019 / THE NORTHERN MINER

GLOBAL MINING NEWS · SINCE 1915

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E D I T O R IA L

O P- E D

Top stories of 2018 EDITORIAL

| Political instability, M&A underlie some of the year’s most significant developments

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GROUP PUBLISHER/ PUBLISHER: Anthony Vaccaro, CFA, MBA avaccaro@northernminer.com EDITOR-IN-CHIEF: John Cumming, MSC (GEOL) jcumming@northernminer.com SENIOR STAFF WRITER: Trish Saywell, BA, MA, MSC (JOUR) tsaywell@northernminer.com STAFF WRITER: Richard Quarisa, BA, MA (JOUR & COMM) rquarisa@northernminer.com COPY EDITOR: Isa Cunanan, HBSC (PROFESSIONAL WRITING, HEALTH SCI COMM)

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hile prices for the major metals and other mined commodities mostly went sideways during 2018, there was plenty of big news over the year — much of its stoked by political pressures on miners.

Here are our picks of the top mining stories of 2018.

BY JOHN CUMMING

8. Beta Hunt bonanza — In the feel-good story of the year, RNC Minerals in September announced it had found a 95-kilogram specimen of rock at its Beta Hunt mine in Australia containing 2,400 oz. gold worth an estimated $4 million, and another 65-kilogram specimen with an estimated 1,600 oz. gold valued at $2.6 million.

A cash-strapped RNC had been a day away from selling the property and refocusing on its Canadian assets when president and CEO Mark Selby received an email from his team on the ground telling him they had hit gold in a big way. RNC’s fortunes have since turned around, as recent production from Beta Hunt continues to smash forecasts.

7. Death of Peter Munk — Passing away on March 28, 2018, Peter Munk transformed Barrick Gold over several decades from a small producer into the world’s biggest gold producer in gold output and market value. Munk repeatedly took daring initiatives in building up Barrick: using unorthodox financing such as hedging; bringing in autoclaves to mine refractory ore in Nevada; launching bids — friendly or otherwise — for equal-sized or even larger rivals; entering countries emerging from internal conflict; bidding for early-stage exploration plays, such as Arequipa Resources; and fully committing to large but risky exploration programs.

6. McArthur River suspension — You know the uranium market is bad when the top uranium miner indefinitely suspends the world’s best uranium mine. In July, Cameco shuttered its McArthur River and Key Lake uranium assets in Saskatchewan, laid off 550 site employees and shrunk its head office count by 150 positions.

Cameco had initially suspended operations at the two sites in January, laying off some employees at the time, and had once planned to reopen the sites after 10 months.

5. Notable deals — It was busy year of M&A for mid-tier miners and advanced explorers, including: Zijin winning a biding war for Nevsun; South32 buying Arizona Mining; Pan American scooping up a troubled Tahoe; Hecla picking up Klondex; and a flurry of eight- and nine-figure streaming deals.

4. Rusal sanctions — The global aluminum markets were thrown into an uproar on April 6 when the U.S. government imposed tough sanctions on Russia’s oligarchs, with aluminum giant Rusal and its parent company En+ Group getting caught in the net, due to their control by oligarch Oleg Deripaska.

Aluminum prices soared more than 20% to US$2,500 per tonne after the sanctions imposition, stoking the biggest five-day gain in 30 years.

3. DRC disruptions — The Democratic Republic of the Congo kept popping up in mining stories throughout the year: investigations into the murky activities of Dan Gertler in the country; substantial hikes in mining taxes; international concern over artisanal cobalt mining; and Glencore’s financial, legal and operational problems in the country.

2. The arrival of lab-grown diamonds — Long the subject of speculation as to their retail viability, laboratory-grown diamonds went mainstream in mid-2018, with De Beers Group launching a company named “Lightbox Jewelry” that will exclusively produce and sell laboratory-grown diamond jewellery on the Internet, using technology developed by De Beers subsidiary Element Six. De Beers will spend US$94 million over the next four years to boost the Lightbox brand and build a Element Six production facility near Portland, Ore., adding to Element Six’s existing facilities in the United Kingdom. Once fully operational, the Portland plant could produce upwards of 500,000 rough carats of lab-grown diamonds per year for the retail market.

1. Barrick-Randgold merger — It’s easy to pick the top story of 2018: Barrick Gold’s surprise, all-share merger with Africa-focused gold miner Randgold Resources, which will create the world’s largest gold miner by all common metrics when the deal closes on Jan. 1, 2019.

When the no-premium merger was announced on Sept. 25, the added geopolitical risk of Randgold’s much heavier weighting towards Africa was more than offset for investors by news that Randgold head Mark Bristow and his team would stay on, with the promise of remaking Barrick into a leaner, more profitable miner in Randgold’s image.

At the end of 2017, Barrick had 64.4 million oz. gold in reserves. The company is guiding 2018 production of 4.5 to 5 million oz. gold.

The new Barrick could produce upwards of 6 million oz. gold in 2019 from Barrick and Randgold’s current mines — regaining the crown as the world’s largest gold miner from Newmont Mining. TNM jcumming@northernminer.com

COMPANY INDEX Agnico Eagle Mines. . . . . . 14 Alphamin Resources. . . . . 14 Aton Resources . . . . . . . . . . 6 Barkerville Gold Mines. . . 11 Capstone Mining. . . . . . . . . 3 Centamin. . . . . . . . . . . . . . . . 6 Centerra Gold. . . . . . . . . . . . 1 Cobalt 27 Capital. . . . . . . . 11 Coeur Mining. . . . . . . . . . . . 2 Cornerstone Capital Resources. . . . . . . . . . . . . . 8 Dundee Precious Metals. . 14 Eldorado Gold. . . . . . . . . . 14 Equinox Gold. . . . . . . . . . . 14 Erdene Resource Development. . . . . . . . . . . 8

Excelsior Mining. . . . . . . . . 9 First Quantum Minerals. . . 9 Fortuna Silver Mines. . . . . 14 Garibaldi Resources . . . . . 11 Gold Fields. . . . . . . . . . . . . . 9 Gold Road Resources. . . . . 9 Goldcorp. . . . . . . . . . . . . . . 14 Guyana Goldfields. . . . . . . . 5 Leagold Mining. . . . . . . . . . 2 Lundin Gold. . . . . . . . . . . . 8,9 MAG Silver. . . . . . . . . . . . . . 2 McEwen Mining . . . . . . . . 14 Metallis Resources. . . . . . . 11 Minaurum Gold. . . . . . . . . . 1 Neo Lithium. . . . . . . . . . . . 15 Newcrest Mining. . . . . . . . . 8

Nordic Gold. . . . . . . . . . . . . 7 NRG Metals . . . . . . . . . . . . 15 OU Moonrider. . . . . . . . . . . 6 Pan American Silver. . . . . . 2 Pandion Mine Finance. . . . 7 Pembridge Resources. . . . . 3 Power Ore. . . . . . . . . . . . . . 15 Sandstorm Gold. . . . . . . . . . 6 Sandy Lake Gold. . . . . . . . . 5 SolGold. . . . . . . . . . . . . . . . . 8 Standard Lithium. . . . . . . . 15 Steppe Gold. . . . . . . . . . . . 1,14 Teranga Gold . . . . . . . . . . . 14 Victoria Gold. . . . . . . . . . . 14 Wood Mackenzie. . . . . . . . . 6

RNC Minerals CEO Mark Selby speaks at Toronto’s Royal Ontario Museum in December. PHOTO BY ANTHONY VACCARO

RNC CEO shows off Beta Hunt gold EVENT

| $4.4M worth of gold on display

RNC Minerals CEO Mark Selby hosted an event in Toronto where attendees could get up close to some of the riches recently extracted at the Beta Hunt gold mine in Western Australia, where the company discovered a major bonanza-grade gold vein in September.

RNC has extracted more than 25,000 oz. gold from large-specimen stones, including the King Henry stone (1,402 oz. gold) and Warren (893 oz. gold), amongst others.

The stones displayed in Toronto contain $4.4-million worth of gold. TNM

Charles Wyndham reflects on dramatic year in diamonds, 2019 INTERVIEW

| Liquidity crisis and lab-grown diamonds themes in 2018

BY TRISH SAYWELL tsaywell@northernminer.com

C

harles Wyndham has been in the diamond industry for over 40 years. He was a director of the CSO, De Beers’ selling arm, before deciding to leave De Beers to set up his own diamond businesses in 1995. He is co-founder of WWW International Diamond Consultants Ltd. (WWW) and is engaged in related businesses, mainly with others whose skills are based on the company’s expertise in technology, the gathering of detailed market information, and a wide range of contacts. WWW has had a joint venture with the Aboriginal Diamond Group through Diamonds International Canada, and since 1998 has been the Government Diamond Valuator for the Federal Government of Canada, and now for the Government of the Northwest Territories. It also acts as the diamond valuator for the Government of Ontario. In 2000, he founded U2 Diamonds Ltd., which owns www.polishedprices.com, the only polished diamond price list based on multiple-sourced, actual transactions. Wyndham holds an MA in jurisprudence from Oxford University.

The Northern Miner: What were some of the highs and lows for diamonds in 2018?

Charles Wyndham: It has been a curious year for diamonds in some ways, in fact, a bit of a “curate’s egg.” As of the end of November, according to my colleague Richard Platt in WWW Diamond Forecasts, rough [diamonds] this year have seen a 7% increase and polished,

around a 4% increase. Even compared to the Forbes Luxury Index, which till the end of September saw a 2% increase, polished diamonds were up by 4.6%.

However, these numbers should perhaps be viewed a little bit in the context of an old saying that there are lies, and then there are statistics. First, there has been undoubted pressure on both rough and polished prices building up during November, which has accelerated in December. The actual year-end figures are likely to be less flattering. This is without recalling that rough diamond prices are still 40% below their peak in 2011, and polished a more “modest” 30% less.

Gloating over the performance of diamonds compared to other luxury products might be tempered by the fact that since 1976, the Forbes Index has increased 2.2% per annum, whilst diamonds, over the same period, have decreased 1.2% per annum.

TNM: What have been some of the main issues for the industry?

CW: Looking at the performance of diamonds in 2018 and looking forward has to be done in the context of underlying trends.

The two key “events” for the diamond industry in 2018 have been a growing liquidity crisis in the industry and De Beers’ “Lightbox” announcement about its laboratory-grown diamonds.

And the $1.8-billion-dollar Modi-Gitanjali fraud in India, coming when the banking industry still has painful memories about the $1-billion Winsome fraud, has done little to settle any nerves amongst the banks. There is speculation that there have been over 50

2018-12-18 9:54 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / DECEMBER 24, 2018–JANUARY 6, 2019

5

Sandy Lake’s Pat Sheridan back in Guyana GOLD

| Former Guyana Goldfields exec redirects Canadian gold junior to Guiana Shield

BY TRISH SAYWELL

L

tsaywell@northernminer.com

ess than two weeks after being appointed executive chairman and CEO of Sandy Lake Gold (TSXV: SLAU), Patrick Sheridan has steered the Red Lake-focused junior towards several acquisitions in Guyana.

Sheridan has been credited with the discovery, financing and development of the Aurora gold mine in a remote part of Guyana’s jungle, 170 km southwest of the capital of Georgetown. Guyana Goldfields (TSX: GUY) put the mine into commercial production in January 2016.

Sandy Lake Gold recently signed a non-binding letter of intent (LOI) to acquire a 100% stake in a suite of gold exploration properties in the far southwest of Guyana’s Cuyuni basin, which hosts the Aurora mine and numerous artisanal mine workings. The properties under the LOI include the historic Aremu mine and the Peters mine concessions — two of Guyana’s four historic gold mines.

Sheridan, who was terminated as Guyana Goldfields’ executive chairman at the end of July and resigned his seat on the board at the end of October, declined to comment on Sandy Lake Gold’s LOI in Guyana until after the company receives permission from the TSX Venture bankruptcies in India from small and medium to large companies.

TNM: What have been other problems in the industry?

CW: Pretty much all the traditional lenders to the industry are restricting credit, and some, such as Standard Chartered, are trying to exit the industry. Credit has become the immediate and burning issue, and not one that is going to go away in a hurry, as banks nurse huge declared and undeclared losses.

Some in the industry say that the extent of credit available will reduce from the current $12 billion to $14 billion, to maybe even less than $8 billion. Whether such a drastic contraction takes place or not, it must have a serious impact on sentiment, if nothing else.

TNM: Can you discuss De Beers’ recent Lightbox announcement on synthetics in a bit more detail?

CW: Yes. It was a thunderbolt announcement that they, De Beers, the purveyor of natural diamonds, was entering the synthetic diamond jewellery market selling directly to the public. For De Beers to get involved in synthetic gem diamonds is in itself not that surprising, given their technical expertise in this area, but how they have decided to enter this market, is — remembering that De Beers was one of the foremost critics of synthetic gem diamonds, insisting on the description “synthetic,” which they now prefer to term Laboratory Grown Diamonds, or LGD. The advertising for Lightbox accepts that their synthetic stones are the same as natural, though man-made, but “just as sparkly.” The goal for De Beers is to ensure that there is a differentiation between natural and synthetic, and that a flat and “predatory” pricing model will inhibit the growth of the synthetic market.

The gamble that a flat pricing model, whereby the diamonds of whatever size — between a quarter and a carat, or whether white, pink or blue — are priced at $800 per carat does not undermine the price of natural is a considerable one,

1-16_DEC24_Main .indd 5

Exchange and shareholders for the Aremu transaction.

In a press release on Nov. 22, Sheridan said the acquisition of “historic and advanced-stage properties immediately launches Sandy Lake Gold into the forefront of mineral exploration in Guyana,” and notes that Aremu and the Peters mine “share similar geological settings and history as the Omai mine (3.7 million oz. produced) and the Aurora gold mine.”

Both properties “offer an outstanding opportunity for the discovery and development of high-grade vein type, as well as open-pittable disseminated gold deposits,” Sheridan continues. “As we advance our district-scale Sandy Lake gold project, located in northwestern Ontario, we will continue to aggressively seek additional properties of merit. We are delighted to have this opportunity to build a highly focused and successful exploration company.”

The company also said that it would continue to assess “other properties of merit in the Cuyuni basin, with the intention of making additional acquisitions.”

The Aremu mine produced 6,500 oz. gold from 14,600 tons of mineralized material at a head grade of 0.44 oz. gold per ton between 1906 and 1911. Previous owners sunk a vertical shaft to 52 metres,

The plant at Guyana Goldfields’ Aurora gold mine in Guyana. GUYANA GOLDFIELDS

and there had been 366 metres of horizontal drifting at the 25-metre and 49-metre levels.

The mine consists of veins and workings, including the Aremu Quartz Reef, Power House, Scotland and Donicker veins — all of which are situated along a 4,900-metre east–west trend.

The Peters mine produced over 40,000 oz. gold between 1905 and 1909, with head grades exceeding 1 oz. per ton.

The mine was developed to 91 metres below surface, with most production above 61 metres, and, according to Sandy Lake Gold, was “the most developed and highest grade deposit in Guyana” before

“ROUGH DIAMOND PRICES ARE STILL 40% BELOW THEIR PEAK IN 2011, AND POLISHED A MORE ‘MODEST’ 30% LESS.” CHARLES WYNDHAM CO-FOUNDER, WWW INTERNATIONAL DIAMOND CONSULTANTS

and one that has many doubters in the industry. There are very few in the industry that believe that this move and the reaction of other synthetic diamond producers will not have a detrimental impact on the overall demand for natural, and therefore prices, not least because of increased advertising spend on synthetics, and a lower spend on natural. Synthetics were never going to go away, but now there is a concern that their share of the market will increase sharply.

TNM: What are some of the structural issues in the industry?

CW: The historical underperformance of diamonds, compared to either other luxury goods and other commodities, such as gold, cannot be blamed on either the recent liquidity crisis or synthetics. Rather, it points to serious structural issues within the industry. Whilst the diamond industry has been at the forefront of using technology to improve its productivity through mining to manufacturing, in terms of its modus operandi, its model has fossilized.

The recent report that a merger has been proposed by a bank between four of the relatively smaller mining companies points to the obvious: whether it should happen or not. There is a desperate need for consolidation, if only to reduce costs, as margins for miners have and will be under pressure. It is not as if junior diamond mining companies’ share prices have been stellar performers over the past year or so.

This need for consolidation actually runs through the whole chain, and particularly the manufacturing

element. The privatization of De Beers, which led to the rapid unloading of its diamond stockpile, in turn spawned a plethora of massive, highly advanced manufacturing operations, and there is without a doubt a substantial overcapacity.

This overcapacity and the need for companies to be seen to be turning goods to maintain their credit is one of the reasons for the strength of rough prices compared to polished prices. None of the family-owned businesses want to reduce or close their factories, if only for credit reasons. This scenario cannot go on forever, though it might continue for longer than might be expected, as it has proved to be remarkably resilient to date.

TNM: What do you see happening in 2019 and beyond?

CW: Looking ahead into 2019 and further, the future is, as always, uncertain. It is the degree of uncertainty that is the issue. This in itself is not particularly unexpected, as the whole world economic scenario is particularly volatile. The diamond industry does face some of its own problems, and how they will unfold is anyone’s guess, but it is unlikely in the short term that there will be any significant increase in prices. The balance is probably weighted to some weakening. At some point the industry is going to have to face up to making some much needed structural changes, but as in any industry, the driver for this tends to come from outside the industry. For our industry, it is the financial side that might be the more immediate driver for change, with the denouement of synthetic diamonds following up. TNM

the Omai mine was built in 1993.

The Geological Survey of Guyana completed geological mapping, sampling and diamond drilling at the Peters mine in the mid-1960s. The work was sponsored and funded by the United States Geological Survey and the United Nations.

Guyana Goldfields acquired the project in the late 1990s and did limited drilling as operator, and optioned the property to WSR Gold.

The work focused on the area around the main shaft and returned historic (not compliant with National Instrument 43-101) assays, including 6 metres of 32.70 grams gold per tonne from 122 metres downhole in hole 1; 5 metres of 13.87 grams gold from 125 metres in hole 7; 53 metres of 5.70 grams gold from 107 metres in 8; and 7.11 grams gold over 40 metres from 11 metres in 18.

Under the LOI, Sandy Lake would likely buy a 100% interest in the various properties by issuing 100 million shares.

Sheridan has an interest in the vendors of the Guyanese properties, which total 104.8 square kilometres.

The mining executive has worked in Guyana for more than 25 years and raised over $400 million for exploration and development projects in the country, Sandy Lake Gold states.

Sheridan ser ved as Guyana Goldfields’ executive chairman from June 2013 to July 2018. The company eliminated the executive chair position on July 30, when Rene Marion was appointed nonexecutive chairman.

The company said the change was carried out to “streamline the organizational structure” under the leadership of Scott Caldwell, the company’s president and CEO. In Canada, Sandy Lake Gold controls 421 sq. km of contiguous mineral claim holdings, 225 km north of Red Lake.

A small drill program there in 2014 returned intercepts of 12.86 grams gold over 7 metres and 12.17 grams gold over 6 metres.

The company has also run airborne and ground geophysical surveys over target areas, and in February 2018, signed a 5,000-metre drill contract and mobilized equipment for the project. Sandy Lake Gold is negotiating an exploration agreement with the local First Nation communities.

Over the last year, Sandy Lake Gold has traded in a 52-week range of 4¢ to 12.5¢. At press time it was trading at 8.5¢ per share.

The junior has104 million shares for an $8.86-million market capitalization. TNM

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2018-12-18 9:40 PM

6

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DECEMBER 24, 2018–JANUARY 6, 2019 / THE NORTHERN MINER

Aton Resources’ senior exploration geologist Tim Neall approaches ancient workings at Aladdin’s Hill, near the Rodruin gold prospect area, in December 2017. ATON RESOURCES

Aton drills ‘lost mountain of gold’ in Egypt EGYPT

| Junior to drill 16,000 metres across Abu Marawat concession in 2019

BY RICHARD QUARISA

A

rquarisa@northernminer.com

ton Resources (TSXV: AAN; US - OTC: A N L BF) ha s drilled 4,125 metres across 50 reverse-circulation holes in a first round of drilling on the South Ridge at its Rodruin gold project, part of its 738 sq. km Abu Marawat concession in Egypt.

The company hit gold mineralization in every zone it drilled: Aladdin’s Hill, Spiral Pit, Central Buttress and GF. Highlights include 5.36 grams gold per tonne and 15.9 grams silver per tonne over 20 metres from surface at Spiral Pit and 1.63 grams gold and 5.3 grams silver over 12 metres from 4 metres downhole at Aladdin’s Hill.

Before Aton picked it up, Centamin (TSX: CEE; US-OTC: CELTF) owned Abu Marawat. Centamin dropped the concession in the early 2000s after discovering its Sukari deposit and bringing it into production as Egypt’s first modern gold mine.

As of June 2017, Sukari contained 244 million proven and probable tonnes grading 1 gram gold for 8 million oz. gold. The mine produced more than 544,000 oz. gold in 2017.

“We started off at Abu Marawat and followed up on what had gone before, and then shifted our focus to an area called Hamama,” company president and CEO Mark Campbell says in a telephone interview with The Northern Miner from Cairo.

“The conventional wisdom was there was a classic volcanogenic massive sulphide deposit at Hamama, but we’ve demonstrated that is not the case. It’s a sort of VMS-epithermal hybrid.”

The company would go on to declare a significant discovery at Hamama West in May 2018. While developing Hamama, it embarked on a regional exploration program at Abu Marawat — a program it began in December 2017.

“We had never done any serious regional work,” Campbell says. “We wanted to develop and see what we had out there.”

The company is focusing on an ancient processing area called Eradiya,

1-16_DEC24_Main .indd 6

Drillers at Aton Resources’ Rodriun gold project in Egypt. ATON RESOURCES

where it sampled tailings grading more than 20 grams gold. When it trenched the area, however, it didn’t find anything.

“The Bedouin had always talked about this lost mountain of gold, this legendary mountain of gold, but nobody knew where it was,” Campbell says. “We did some satellite imagery and found these ... ancient trails. Because it’s desert — because it’s barren rock and its very dry — nothing really erodes.”

The company followed the trails to a mountain 3 km south of Eradiya and 18 km west of Hamama West.

Campbell says that “we went up there and that’s when everybody went ‘wow.’ The place is honeycombed with ancient workings, some that go down 80 metres below ground. We found old clay lamps with wicks still in them, old ropes, stone tools — and it was obvious that we were the first people up there in 1,600 years.”

The company named the area Rodruin. It built a 4.5 km road up the side of the mountain that in some places slopes up to 70 degrees.

It also built several drill pads that it used for the first phase of drilling.

The mountain consists of two ridges split by a wadi, or dry chan-

nel. The company started with the mountain’s south ridge because it’s less steep than the north ridge, but says the north ridge also shows evidence of ancient workings. It hopes to find a bulk-mineable deposit — an objective consistent with early indications.

“We have a wide area of mineralization with good grades, but we do get some high-grade shoots interspersed,” Campbell says. “It’s interesting geology in that it’s all in the carbonates. I mean were seeing mineralized slate — something that most people never see.”

Aton is taking a break from exploration over the holidays, but will continue access road construction to parts of Rodruin’s South Ridge it intends to drill in early 2019.

The company aims to build a road to the project’s North Ridge to follow up on surface samples it took there that graded as high as 321 grams gold per tonne. It says that the terrain on the North Ridge is extremely rugged, and road construction could take several months.

The company intends to drill another 16,000 metres in the new year spread across Rodruin and its other Abu Marawat targets. Part of the drilling is intended to upgrade the inferred resource at Hamama

West to the indicated category.

Hamama West contains 3.8 million indicated tonnes grading 0.72 gram gold and 27.6 grams silver for 88,000 oz. gold and 3.37 million oz. silver, as well as 8.2 million inferred tonnes at 0.87 gram gold and 29.7 grams silver for 230,000 oz. gold and 7.8 million oz. silver.

In May 2018, Aton declared “commerciality” at Hamama West in the context of Egypt’s regulatory regime.

The company intends to develop it into a small, open-pit operation.

A few months later the Egyptian Mineral Resource Authority accepted Aton’s commerciality study, which extended its exploration licence.

Aton is working towards a preliminary economic assessment at Hamama West and could make a production decision based on its results.

Campbell has been involved in mining in Egypt for over 20 years.

He joined the board of Alexander Nubia in 2009. In 2015 he became CEO, and a year later the company was renamed Aton Resources.

The company had two concessions at the time: Abu Marawat and Fatiri.

“Two years ago I relinquished Fatiri to focus on Abu Marawat,” Campbell says. “When we arrived,

the land package that we had was larger than Luxembourg.”

Egypt had based its land bids on the oil and gas industry, and many concessions were over 1,000 sq. km.

While the company’s oil and gas industry took off, mining got left behind. Campbell notes Sukari is the only modern mine developed in Egypt in the last 90 years.

To address the problem, the Egyptian government hired consultants Wood Mackenzie, who previously helped reshape the Ecuadorian mining industry.

Egyptian Prime Minister Madbouly’s cabinet recently approved amendments to the country’s Mineral Resource Act that were recommended by Wood Mackenzie.

Notably, miners will no longer have to form a fifty-fifty joint venture with the Egyptian Mineral Resource Authority to go into production.

The government hopes to ratify the changes by year-end.

“The two great opportunities in Egypt are the geology and the frontier nature of it, but frontier with a small “f,” because it’s got a lot of infrastructure,” Campbell says. “And then you’ve got to change the fiscal regime to make it more attractive.”

Aton shares are trading at 4¢ in a 52-week range of 2¢ to 11¢. The company has a $12-million market capitalization.

Sandstorm Gold (TSX: SSL; NYSE: SAND) invested $2.1 million in Aton earlier this year. The company paid nearly $1.8 million for 40 million Aton shares and another $300,000 for a 1% net smelter return royalty on Abu Marawat.

At the same time, Aton closed a separate private placement worth nearly $2 million. Sandstorm now owns 14.94% of Aton, making it the company’s second largest shareholder. Private company OU Moonrider owns 23.95% of Aton.

“We will finish drilling Rodruin, then take a break and starting drilling some of its other targets to start building up a better picture of these targets, and how they fit into our exploration portfolio,” Campbell says. “It’s all about narrowing down our focus.” TNM

2018-12-18 9:40 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / DECEMBER 24, 2018–JANUARY 6, 2019

7

Nordic pours gold at Laiva FINLAND

| From care and maintenance to production in 11 months

BY RICHARD QUARISA rquarisa@northernminer.com

N

ordic Gold (TSXV: NOR; US-OTC: FIEIF) recently poured its first gold at its restarted Laiva gold mine in central Finland. Roughly 25 people attended the live-streamed event in person, with the company pouring 1,234 oz. of doré.

“We were very happy with the results that we got,” Nordic Gold president and CEO Michael Hepworth says in a telephone interview with The Northern Miner. “The previous operator, when they were in production, they were getting 80% gold. But the doré that we poured was 90% gold, so we beat past quality levels. This is not the biggest pour, but for a first pour, we’re pretty comfortable with it.”

Before shutting down in early 2013, Laiva produced 75,000 oz. gold.

Nordic Gold — formerly called Firesteel Resources — joint ventured the project from its former operator, Nordic Mines AB, in September 2017.

Nordic Gold acquired an initial 60% of Laiva by investing $20 million in stages into the project. The company bought out the other 40% interest in February 2018 by issuing Nordic Mines 66 million shares.

Since then, Nordic Gold has refurbished Laiva’s plant and tabled a preliminary economic assessment for the project. According to the June 2018 study, Laiva has a $69-million, after-tax net present value at a 5% discount rate and a 36.5% after-tax internal rate of return. Nordic expects to produce 456,600 oz. gold over a six-year mine life at a US$974 per oz. all-in sustaining cost, with payback in 2.1 years. The Finnish government also approved a $155-million tax loss provision when Nordic joint ventured the project in 2017, which will offset some taxes now that the mine is back in production.

Hepworth says Nordic Gold has three objectives at Laiva.

“The first thing is making sure that the plant and mine are operating at optimum efficiency,” he says.

“That’s goal number one. It does take some time to settle down. It’s not like a car where you put the key in the ignition and turn it on, and everything runs. With this you’re constantly tweaking and refining.”

He says the company aims to reach commercial production at Laiva by the end of February 2019, and produce 67,000 oz. in its first year of production.

“The second thing we need to do is prove up more gold,” Hepworth says. “We’ve got an area that we call the Gold Corridor that’s about 5.3 km long. We’ve only drilled about 1.2 km of it, but the geology is consistent throughout the 5 km, so we think there’s a good chance that there will be additional gold there.”

The company plans to infill drill

NORDIC GOLD HAS TWO OTHER GOLD PROPERTIES LESS THAN 4 KM SOUTHWEST OF LAIVA CALLED MUSUNNEVA AND KAUKAINEN, AND ANOTHER GOLD PROPERTY 12 KM SOUTH OF LAIVA CALLED OLTAVA.

1-16_DEC24_Main .indd 7

Doré pouring at Nordic Gold’s Laiva mine in central Finland. NORDIC GOLD

the north side of its north pit and the northwest side of its south pit.

It’s also investigating a northerly extension of the north pit called New Hope. Hepworth says the current pits are constrained only by drilling. With the deepest holes at Laiva extending 150 metres below surface, the resource remains open at depth and to the east. The company says it has found higher grades at depth, but needs to do more drill testing.

As of an August 2017 report, Laiva has 3.79 million measured and indicated tonnes grading 1.23 grams gold per tonne for 151,000 oz. gold, as well as 9 million inferred tonnes grading 1.53 grams gold for 445,000 oz. gold.

The company has two other gold properties less than 4 km southwest of Laiva called Musunneva and Kaukainen, and another gold property 12 km south of Laiva called Oltava. The three properties combine for 43 square kilometres. All the properties are permitted for drilling.

THE PERFECT

GIFT

“WE’VE GONE FROM CARE AND MAINTENANCE TO ACTUALLY PRODUCING GOLD IN ABOUT 11 MONTHS, WHICH SAYS THAT WE CAN DELIVER ON OUR OBJECTIVES.” MICHAEL HEPWORTH PRESIDENT AND CEO, NORDIC GOLD

Kaukainen and Musunneva show the same mineralization as Laiva, and Nordic says both properties could host future open pits. Previous operators drilled Oltava, but never enough to define a resource. It shares a similar geochemical signature

with Laiva.

That said, Hepworth notes the company will focus its near-term exploration on areas close to the mine. The company wants to explore areas that are already permitted for mining.

“The final thing,” Hepworth says, “is looking for a way to refinance the gold forward sale, because it’s expensive money, and what we need to do is replace that with more market related funding. The internal rate of return for the gold forward sale lender is about 17%, and we can probably get it somewhere between 4% and 5%.”

To fund Laiva’s restart, Nordic entered a $20.6 million forward-gold purchase agreement with Pandion Mine Finance, repayable via 70,000 oz. gold at spot price, less a discount.

Its first payment is due in January 2020.

Shares of Nordic Gold are trading at 10¢ with a 52-week range of 6¢ to 17¢. The company has a $19-million market capitalization.

“We’ve gone from care and maintenance to actually producing gold in about 11 months, which says that we can deliver on our objectives,” Hepworth says. “We’ve got a good operating team and we’re able to get things done.” TNM

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2018-12-18 9:40 PM

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DECEMBER 24, 2018–JANUARY 6, 2019 / THE NORTHERN MINER

Newcrest options Cornerstone’s Miocene CHILE

| Aussie gold miner targets epithermal and porphyry deposits in Andes

BY TRISH SAYWELL tsaywell@northernminer.com

O

ver the last 15 years, Australian gold major Newcrest Mining (ASX: NCM) has found gold deposits in Australia, Papua New Guinea and Indonesia, and continues to explore and evaluate prospects in those countries, as well as in many others, including Fiji, North America, Mexico, Côte d’Ivoire, Chile, Argentina and Ecuador.

It recently signed an option agreement in Chile to earn up to a 75% interest in Cornerstone Capital Resources’ (TSXV: CGP) Miocene properties. Miocene is in the Atacama and Antofagasta regions of Chile, where Cornerstone is targeting epithermal gold-silver and porphyry gold-copper deposits.

Cornerstone says epithermal mineralization has been found on neighbouring properties along strike to the west of its Miocene claims.

The company has undertaken geochemistry work (including rock and soil samples), ground geophysics, prospecting and geological mapping to prepare Miocene for its first drill program. Cornerstone says altered and geochemically anomalous areas up to 9 by 3 km on the property have never been trenched or drilled.

Cornerstone has a portfolio of

An exploration camp and Cornerstone Capital Resources’ personnel at the Miocene gold-silver-copper property in Chile.

Newcrest Mining holds an option to earn up to 75% of the project. CORNERSTONE CAPITAL RESOURCES

projects in Chile and Ecuador, including the Cascabel gold-enriched copper porphyry project in northwestern Ecuador, where it has a 23% direct and indirect stake with joint-venture partner SolGold (TSX: SOLG).

Newcrest already has a strategic stake in an Ecuador-focused company. In February it invested $250 million at $5.50 per share for a 27.1%

interest in Lundin Gold (TSX: LUG), which is developing the Fruta del Norte gold mine.

The deal with Cornerstone could signal more to come in Ecuador.

“Newcrest is also actively exploring in Ecuador, where Cornerstone has a first-mover advantage as a prospect generator” since 2005, and has “several drill-ready properties available for option,” Newcrest CEO

Brooke Macdonald said in a news release.

In the meantime, Newcrest can earn ownership in Cornerstone’s Miocene project in Chile over four stages. In the initial 18-month option period, Newcrest will make an upfront payment of $100,000 and spend at least $1.1 million.

Over four years in the first stage, Newcrest must pay $500,000 and

spend another $8 million, with a minimum of $500,000 each year to keep the option and earn a 51% stake in the project.

In stage two, over two years, Newcrest will pay Cornerstone $650,000 and complete a preliminary economic assessment on any target area on the property. To boost its stake to 65%, Newcrest can extend the second stage of the agreement to a third year by paying another $250,000.

In the final third stage, over a twoyear period, Newcrest would need to spend $100 million or complete a bankable feasibility study, whichever happens first, to raise its stake to 75%.

Newcrest would also be permitted to extend stage three by up to an extra two years by paying $500,000 for each one-year extension.

If Newcrest earns a 75% stake, Cornerstone would have an option to convert 5% of its 25% equity in the project into a 1% net smelter return royalty (NSR). Newcrest would then have the right to buy down the royalty to 0.5% NSR at fair market value after finishing a bankable feasibility study.

Andrew Kaip of BMO Capital Markets has a target price on the stock of A$23 per share. At press time it was trading at A$21.30 per share. TNM

Steppe Gold nears production at ATO STEPPE From 1

The company says it’s on track to finish construction before January 2019, leach ore in April, and pour first gold before June.

In a recent market update, Steppe said ATO’s crushing circuit fully operates and that ore is being crushed to specification. About 30,000 tonnes of mineralized material has been mined from the ATO 1 deposit and stacked on the run-of-mine pad.

Before selling ATO to Steppe Gold, Centerra spent over US$25 million on exploration and studies on the epithermal gold and polymetallic deposit, including 67,000 metres of drilling and 28,000 metres of trenching.

It also obtained all the major permitting for a 30-year mining licence. In addition to the heap-leach operating permit, Steppe Gold has permission to build a carbon-in-leach plant, which the firm will consider in the coming years.

“It was an exceptional deal — they had spent close to US$30 million on the project,” Matthew Wood, Steppe Gold’s chairman, president and CEO, said in a telephone interview from Sydney, Australia. “We’ve got a huge data set with the project. Centerra did an excellent job of collecting data but a poor job of interpreting it, and we’ve had some huge wins out of that.”

The ATO project is made up of three pipe deposits — ATO 1, 2 and 4 — and has measured and indicated resources of 12.2 million tonnes grading 1.49 grams gold per tonne, 9.99 grams silver per tonne, 0.75% zinc and 1.34% lead for 587,000 contained oz. gold, 3.93 million oz. silver, 202 million lb. lead and 362 million lb. zinc.

Inferred resources add 1.05 million tonnes grading 1.03 grams gold, 25.18 grams silver, 0.52% lead and 1.11% zinc for 35,000 oz. gold, 848,000 oz. silver, 12 million lb. lead and 26 million lb. zinc.

Steppe Gold says the small heapleach operation at ATO will have a four-and-a-half-year mine life and produce 147,000 oz. gold and 673,000 oz. silver, at life-of-mine cash costs

1-16_DEC24_Main .indd 8

of US$333 per ounce. Recoveries are estimated at 70% for gold and 40% for silver.

But that, Wood says, is just the mine life on the small oxide open pit down to 40 metres’ depth.

“The main part of the orebody is open at depth and open to at least 300 metres, and that’s fresh rock, and that’s what we’re doing the feasibility study on now,” he says. “We could produce about 150,000 oz. gold a year, with a substantial mine life of plus 10 years.”

In the meantime, Steppe Gold has reinterpreted the model at the ATO 4 pipe with new extensions and found more mineralization north at the Mungu deposit — neither of which are included in the 10-year mine life Wood envisages for the larger project.

The company says ATO 4 is less a pipe than part of a 20 km long mineralized structure that includes the Mungu prospect, 500 metres north of ATO 4, and another discovery 3 km north of Mungu, called Bayangol. The northern extension of the ATO 4 deposit is open along strike and depth.

“We will continue to drill ATO 4 outside its interpreted boundaries, and we’re getting very good results,” Wood says. “We’ve extended ATO 4 and Mungu, where we’ve found additional material, so we should get five years plus on the oxide.”

The company is also investigating the Bayanmunkh prospect, 25 km northeast of the ATO and Mungu deposits, and the Tsagaan Temeet prospect, 17 km north of ATO and Mungu.

Since taking over the 54.9 sq. km project, 660 km east of Ulaanbaatar, Steppe Gold has carried out three drill programs.

Highlights at Mungu have included 46 metres grading 14.98 grams gold and 82.02 grams silver from 218 metres downhole in hole 49; and 62.5 metres grading 3.28 grams gold and 29.79 grams silver from 258 metres in hole 51. Other results from Mungu included 152 metres of 2.06 grams gold and 72.64 grams silver from 190 metres in hole 52, and 56 metres of 1.03 grams gold and 35.15

The crusher, stockpile and cell on the heap-leach pad at Steppe Gold’s Altan Tsagaan Ovoo gold-silver project in eastern Mongolia. STEPPE GOLD

grams silver from surface in hole 67.

Drilling at ATO has returned 1-metre intercepts grading 212 grams gold and 49.3 grams silver from 104 metres downhole in Hole 299; 1 metre of 183 grams gold and 33.9 grams silver from 166 metres in Hole 317; and 63 metres of 6.53 grams gold and 5.95 grams silver from 54 metres in Hole 297.

Steppe Gold plans to update the resource estimate for ATO in the first half of 2019, and issue a resource estimate for the Mungu oxide deposit before July 2019.

“We’re not in Mongolia to build a small heap leach,” Wood says. “The heap leach pays for the whole show, it gets us into production and builds a platform in Mongolia, and gives us credibility in the local community and with the local and federal governments. It makes us an employer.

And from there we expand into the much larger project.”

Establishing credibility shouldn’t be too difficult for Wood, who had already built the Hunnu Coal company in the country and sold it for A$500 million (US$360 million) in 2011 to Banpu PLC — a mining and power company in Thailand, and that country’s largest coal producer.

(Wood also has lived in Mongolia for more than a decade, is married to a Mongolian, and was awarded the Order of the Polar Star, the highest state honour that can be awarded to a non-Mongolian.)

Elsewhere in Mongolia, Steppe Gold owns 80% of the Uudam Khundii gold project, 800 km southwest of Ulaanbaatar. The property adjoins the Bayan Khundii gold discovery and the Altan Nar epithermal gold deposits that are being explored by Erdene Resource Development (TSX: ERD).

Steppe Gold plans to start a trenching program in the first quarter of 2019, and drill in the first half of the year.

Steppe Gold’s partner in the project is the provincial government of Bayankhongor. “It’s the first of its kind — the first joint venture ever with a provincial government being a 20% partner,” Wood says. “It’s really going to help us.”

Where some see political risk operating in Mongolia, Wood sees opportunity.

“I’ve done very well in the country and don’t see the level of political risk others do,” he says. “If you look at all these post-Soviet countries, Mongolia

is probably the best functioning democracy out of all of them. Mongolia is doing very well — the economy is growing, they have got a good president running the country. There are a few problems, but the policy of the party is still pro-investment and pro foreign investment, so I’m very bullish on the future of Mongolia.”

As for the geology, there’s no place in the world that has the potential of Mongolia to find truly world-class deposits, he says. “When I came here, I thought, ‘you’ve got this fantastic geology and a mining economy next to the world’s biggest consumer of resources. That must be a good place to do it.”

Insiders and management own 13% of the company’s shares, based on a corporate presentation in November. LIM Advisors owns 12%; Mongolian nationals, 9%; Triple Flag Mining Finance, 5%; Elliott Management Corp., 4%; and R&R Venture Partners, 3%.

R&R Venture Partners was founded by Richard Parsons and Ronald Lauder. Lauder is a scion of cosmetics giant Estée Lauder, chairman of Clinique, president of the World Jewish Congress, and a well-known philanthropist.

At press time, Steppe Gold was trading at 80¢ per share within a 52-week range of 76¢ to $2.01.

The junior has 41.5 million shares outstanding for a $33-million market capitalization.

Pierre Vaillancourt of Haywood Securities has a “buy” rating and $1.75 target price.

The “combination of cash flow from ATO and the strong potential from Mungu provide attractive upside for the stock in 2019,” the mining analyst said in a Dec. 6 research note.

But he also noted the importance of exploration and increasing the project’s resource.

“As a result of the short mine life, the market will be looking for positive drill results, especially from Mungu, which will point to a larger resource to establish the ATO mine as a longer-term producer,” Vaillancourt said. “Disappointing drill results could negatively impact the stock.” TNM

2018-12-18 9:40 PM

OUTLOOK 2019

SPECIAL FOCUS

Jeffrey Christian sums up 2018 themes and looks to 2019 INTERVIEW

| CPM’s price forecasts for precious metals

BY TRISH SAYWELL tsaywell@northernminer.com

J

effrey Christian is the managing partner of CPM Group, a commodities research and management, consulting and financial advisory firm in New York. He founded the company in 1986, spinning off the Commodities Research Group from Goldman Sachs & Co., and its commodities trading arm, J. Aron & Company. Christian is an expert on precious metal markets and took time to speak with The Northern Miner about his outlook for gold, silver and platinum group metals (PGMs) in 2019.

The Northern Miner: Did anything surprise you about precious metal prices or trends this year?

The processing plant under construction at Lundin Gold’s Fruta del Norte gold mine in southern Ecuador in November 2018. LUNDIN GOLD

Fruta del Norte, Cobre Panama lead wave of new mines OUTLOOK

BY DAVID PERRI

A

dperri@northernminer.com

s a new year approaches, The Northern Miner runs down some of the most interesting new mines scheduled to begin production in 2019.

Fruta del Norte (gold) Lundin Gold The Fruta del Norte saga has been as dramatic as any in the industry. In 2006, Aurelian Resources discovered the gold deposit in Ecuador before selling it to Kinross Gold in 2008 for US$1.2 billion. In 2014, after years of disputes with the Ecuadorian government over proposed taxes, Kinross would sell the project to Lundin Gold (TSX: LUG) for US$240 million.

Lundin seems set to make good on its contrarian investment in Ecuador. The company is scheduled to hit its long-held target of 2019 for first production, recently completing 34% of the US$692-million construction effort. It plans to reach the orebody in the first quarter of 2019 and achieve its first gold pour by the fourth quarter.

Lundin aims to produce 4.6 million oz. gold over 15 years at Fruta del Norte, with all-in sustaining costs at US$609 per ounce.

Cobre Panama (copper) First Quantum Minerals First Quantum Minerals (TSX: FM) plans to cut the ribbon in 2019 on its Cobre Panama open-pit copper mine, 20 km from the Panama coast.

The massive development with

1-16_DEC24_Main .indd 9

construction in Western Australia.

Gruyere is expected to produce 300,000 oz. gold per year with all-in sustaining costs of US$738 per oz. over its 12-year mine life.

The open-pit operation will churn through 8.2 million tonnes of ore per year.

As of Nov. 30, the partners reported mine construction was

Jeffrey Christian: It’s funny. We were just talking about that with one of our clients. This year the theme was “prepare and diversify.” The thinking was that prices of precious metals wouldn’t rise sharply this year, although there are a variety of factors that will probably push prices up sharply at some point in the next five years, but that 2018 would be a year of prices moving sideways. That said, silver, gold and platinum all fell over the course of the year, so prices were lower than what we thought. So we were right that it wouldn’t be a bullish year, but we were wrong because the prices actually declined and have moved to a somewhat lower level. That was the big surprise. We didn’t think prices would rise, but the fact that the prices

See 2019 MINES / 14

See PRECIOUS METALS / 10

| 15 new mines scheduled to come online in 2019

a US$6.3-billion price tag is more than 80% complete, according to the company’s latest update. For 2019, First Quantum expects to deliver the first ore to the processing plant and ramp up to 74 million tonnes per year (annualized). The miner is targeting 150,000 tonnes of copper-in-concentrate production for 2019.

The mine should reach nameplate throughput of 85 million tonnes per year in 2020, and could expand to 100 million tonnes per year after 2022. First Quantum expects all-in sustaining costs of US$1.50 per lb. copper produced.

Measured and indicated resources total 3.68 billion tonnes grading 0.37% copper, and the company expects mine life to exceed 40 years.

Gunnison (copper) Excelsior Mining On the heels of a US$75-million financing, fledgling in-situ copper producer Excelsior Mining (TSX: MIN) started construction at Gunnison in southeast Arizona in December 2018, with initial copper production expected in the fourth quarter of 2019.

Excelsior will used five rigs to drill 25,000 metres as its develops 43 production wells and 22 compliance wells, as part of the US$47-million, first phase of construction.

According to a 2017 feasibility study, Gunnison will initially produce 25 million lb. copper cathode per year, ramping up to 125 million lb. per year in years six and seven.

The mine should operate for 25 years, producing 2.17 billion lb. copper

with average direct-operating costs of US66¢ per lb. copper.

Gruyere (gold) Gold Fields, Gold Road Resources Equal joint-venture partners Gold Fields (NYSE: GFI) and Gold Road Resources (ASX: GOR) are planning to pour first gold during the second quarter of 2019 at their Gruyere gold mine, under

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DECEMBER 24, 2018–JANUARY 6, 2019 / THE NORTHERN MINER

OUTLOOK 2019

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Jeffrey Christian sums up 2018 themes and looks to 2019 PRECIOUS METALS From 9

fell in the second quarter and that they haven’t recovered significantly since then surprised us.

TNM: What is your outlook for 2019?

JC: We’re looking for somewhat higher prices. If the theme for 2018 was “prepare and diversify” and if you have an opportunity to diversify your wealth into precious metals in preparation for more hostile economic times later, you should. We’re now trying to come up with a new theme for 2019. The hostile conditions did not emerge in full force in 2018. We do think the financial, economic and political trends in many countries will all be supportive of higher prices, but they won’t really run away in 2019 yet. So next year will be better for gold and silver, but don’t expect too much. It’s true of platinum, silver and gold. Palladium has been running contrary to those other three and we think palladium prices will stay high, because there is tight fabrication demand and investor support behind the metal. But we

don’t think palladium will continue to rise at the rate it has been. At the same time we don’t necessarily see it falling sharply. We’re more bullish on gold than silver and more bullish on silver than platinum. We do think the platinum price is too low, but any increase in price seems likely to be modest in 2019.

“YOU’LL SEE M&A ACTIVITY CONTINUE BECAUSE EXECUTIVES IN THE MINING INDUSTRY WILL SAY, ‘OK, PRICES ARE A LITTLE HIGHER, BUT WE THINK THEY’RE GOING HIGHER LATER. SO IT’S A GOOD TIME TO BUY ASSETS.’”

TNM: What are your specific price forecasts for gold, silver and PGMs next year?

MANAGING PARTNER, CPM GROUP

JC: We’re looking at the gold price to probably rise 2% or 3% in 2019.

So if the gold price average through November 2018 was US$1,269 per oz., maybe it’s going to be US$1,300 per oz. next year, and the price might reach US$1,340 to US$1,380 per oz. by the end of next year. There will be some strength, but it’s not a runaway. Now obviously that can change if the political and economic environment changes.

For silver we see a more forceful rise, but that’s partly because silver has been weaker this year. Through November it averaged US$15.68 per oz., and that was off 8.6% from 2017.

Next year we think it will average US$17.70 per oz., so it would be

JEFFREY CHRISTIAN

about a 13% increase. But part of that increase is just offsetting this year’s decrease, whereas with gold, the price was flat this year. It didn’t fall 8.6%, so we don’t expect to see it rise that much. We’re not looking for a super large increase in gold next year, but with silver, because it was so weak this year, we think you’ll see some recovery.

lower, but we don’t see it going back to the levels in play in 2016 and 2015. Prices got down to US$550 an ounce in early 2016. We don’t see that happening.

TNM: Palladium?

JC: Obviously the storm is gathering around [President] Donald Trump and the Republican party, and these problems are going to be an issue. We’re waiting to see what happens with the Mueller commission. It looks nasty and ugly. In terms of the U.S. econ-

JC: We’re looking at an average of US$970 per oz. for the year in 2018 — a lot of the increase this year was in the last few months — and expect an average US$940 per oz. in 2019. So it will be a little bit

TNM: It’s a complex time. How do you see the political and macroeconomic landscape affecting the precious metals and mining space?

omy, you’ll see somewhat decent economic growth, but probably moving away from peak economic activity to something lower. And that will probably be reflected in lower stock prices.

You’ve got Donald Trump and a dysfunctional government, the trade wars between China and the U.S., and Canada is being sucked into that, and ongoing issues with the British government and Brexit.

Two months ago the probability of a second referendum on Brexit was probably 5% and now it’s significantly higher, so the U.K. government is going to be having problems. You’ve got problems in Italy and France, and the European Union is having parliamentary elections next year at a time of increasing nationalism, so Europe, the U.K. and the U.S. are all going to have political problems.

They might not push strong demand for gold and silver, but they will create an atmosphere of: “We should be preparing for worse times,” and that will create a better environment for gold, because investors buy gold as a safe haven. And if they’re looking at the horizon, the political environment is bad in the U.K., it’s bad in Europe, in the U.S., and in various Latin American countries.

That creates an environment where investors say, “Well, maybe I should have more gold and silver than I do.”

TNM: How do you think the U.S. Federal Reserve will act in 2019?

JC: Our view is that the Fed will continue along the lines of what it has been saying. There’s an increase in the view over the last couple of weeks that the Fed might pause soon and lower than it had indicated earlier this year, and our view is that it won’t. It will keep its options open of doing that, but in so far as we’re not expecting a recession in 2019 in the U.S., we’re expecting somewhat lower growth ... but still relatively healthy growth — there’s really not an impetus for the Fed to halt what it has been doing and what it has said it’s going to do. There will probably be two or three — or even four — interest rate hikes in 2019, partly because the economy will support it and partly because it has to rebuild its credibility, which suffered from 2008 through until, well, pick a year, say 2017. The Fed will maintain its policies, but it will be cautious and will be looking for signs of greater weakness than everybody expects right now.

TNM: What’s your view on mergers and acquisitions (M&A) activity in the precious metals space in 2019?

JC: It will continue. We’ve seen some mergers like Barrick Gold and Randgold, and some acquisitions of smaller companies by larger companies, and in so far as you’ll see relatively low metal prices but somewhat higher metal prices next year, we will see continuing M&A in the sector. People say they think they can do this because they think the price of gold is going to go higher.

You’ll see M&A activity continue because executives in the mining industry will say, “OK, prices are a little higher, but we think they’re going higher later, so it’s a good time to buy assets.” TNM

1-16_DEC24_Main .indd 10

2018-12-18 10:02 PM

OUTLOOK 2019

GLOBAL MINING NEWS

THE NORTHERN MINER / DECEMBER 24, 2018–JANUARY 6, 2019

11

OUTLOOK SNAPSHOT

Eight juniors with plans for a busy 2019 The junior exploration and development scene is still in high gear in North America, with many juniors planning for extensive work programs in 2019 at precious and base metal projects across the Americas. Here is a look at eight such companies.

BARKERVILLE GOLD MINES Barkerville Gold Mines (TSXV: BGM; US-OTC: BGMZF) is exploring and developing the historic Cariboo mining district of central British Columbia, where it has amassed mineral tenures covering 2,039 sq. km, collectively known as the Cariboo gold project.

The project area has a 67 km strike length and includes several pastproducing placer and hard rock mines, which Barkerville says makes it “one of the most well-endowed land packages in British Columbia.”

Apart from the streams and royalties, Cobalt 27 has 2,906 tonnes of physical cobalt in storage, valued at $286 million in October 2018.

GARIBALDI RESOURCES Vancouver-based Garibaldi Resources (TSXV: GGI; USOTC: GGIFF) is a junior explorer developing assets in Mexico and British Columbia.

Garibaldi says it has used “cuttingedge technology in Mexico in recent years to cost-effectively unlock project value, build financial strength and accurately pinpoint the most prospective targets for potential new discoveries over a vast area in the deposit-rich Sierra Madre.”

Its priorities in Mexico are to

advance its Rodadero silver-gold project and its La Patilla gold property.

Meanwhile in northwest B.C.’s Eskay camp, Garibaldi is advancing a 200 sq. km land package that includes the E&L Project at Nickel Mountain — which the company describes as the “first magmatic nickel-copperrich massive sulphide system discovered in this prolific district.”

In a year-end release, Garibaldi president and CEO Steve Regoci said: “Not only have we made important progress in expanding the footprint of this nickel-copperrich mineralization, but our geological understanding of this unique Eskay Camp system — from the configuration of the intrusion to the controls on mineralization — has advanced dramatically over last

year. We’ll enter 2019 with working capital of approximately $15 million, which puts us in a highly favourable position to take Nickel Mountain to the next level, and fully leverage this asset for shareholders.”

METALLIS RESOURCES Vancouver-based Metallis Resources (TSXV: MTS; USOTC: MTLFF) is also exploring in northwestern B.C.’s Golden Triangle region, where it has its wholly owned Kirkham property, which is prospective for gold, copper, silver and nickel.

The Kirkham property is 65 km north of Stewart, B.C., and the property’s northern border is contiguous to Garibaldi Resources’ E&L Nickel Mountain project, whereas the northeast corner of

Kirkham is within 12 km of the Eskay Creek mine, and the eastern border is within 15 km of Seabridge Gold’s KSM deposits and Pretium Resources’ Brucejack mine.

The Kirkham property was assembled over the years by worldrenowned copper-gold expert Rodney Kirkham, and vended into Metallis.

Metallis says the property features several geological environments — magmatic sulphide, porphyry and shear vein — and has the “potential for a world-class mineral discovery.”

In November, Metallis reported that the first-ever drill program at the Cole and Nina targets totalled 1,645 metres of diamond drilling, and

See SNAPSHOT / 15

The company says its brownfields exploration team is focused on developing and delineating a mineable resource within 7 km near the town of Wells, B.C., while its greenfields team is developing exploration assets throughout the remaining land package. A total of 123,000 metres was drilled on the property in 2018.

Barkerville’s operations team is focused on developing and mining the Bonanza Ledge and BC Vein deposits on Barkerville Mountain, which the company says will allow it to “generate near-term cash flow, train a local work force, keep the present mining permit active and de-risk the project through staged production growth.”

Material from these deposits would be processed at the company’s fully owned, permitted QR mill and tailings facility, located 110 km by road from Wells.

In late December, Barkerville raised $28.5 million in a private placement, and will unveil its plans for 2019 early next year.

COBALT 27 CAPITAL Anthony Milewski’s Cobalt 27 Capital (TSXV: KBLT; US-OTC: CBLLF) has exposure to the electric vehicle (EV) revolution through cobalt streams, battery metal royalties and an inventory of physical cobalt.

In 2018, Cobalt 27 acquired the world’s first pure cobalt stream for US$300 million from Vale on the supermajor’s Voisey’s Bay nickelcopper-cobalt mine in Labrador. The stream could deliver 1.9 million lb. cobalt per year to Cobalt 27, and it will be settled in physical delivery for the mine’s life.

The Voisey’s Bay stream entitles Cobalt 27 to 32.6% of the mine’s finished cobalt production starting on Jan. 1, 2021, until it receives 23.8 million lb. cobalt, and 16.3% of the mine’s finished cobalt production thereafter.

Also in 2018, Cobalt 27 picked up a 1.75% net smelter return royalty (NSR) on RNC Minerals’ construction-ready Dumont nickel-cobalt project in Quebec, which includes the world’s largest undeveloped cobalt reserve, and a 2% NSR on Giga Metals’ low-grade Turnagain nickel-cobalt project in British Columbia, one of the world’s largest undeveloped, nickel-cobalt sulphide deposits in terms of total contained nickel.

1-16_DEC24_Main .indd 11

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2018-12-18 9:41 PM

12

DECEMBER 24, 2018–JANUARY 6, 2019 / THE NORTHERN MINER

OUTLOOK 2019

WWW.NORTHERNMINER.COM

Codelco’s El Teniente copper mine in the Chilean Andes. CODELCO

Scotiabank’s Rory Johnston on ‘volatile’ 2018, outlook for 2019 INTERVIEW

| Expects economic growth will slow slightly, weighing ‘moderately’ on all commodities

BY TRISH SAYWELL

R

tsaywell@northernminer.com

ory Johnston is a commodity economist covering energy and metal markets in Scotiabank’s Economics department. His research includes the Scotiabank Commodity Price Index (a monthly assessment of developments affecting the prices of major Canadian export commodities), contributions to Scotiabank’s Global Outlook (the department’s f lagship quarterly forecast), as well as notes on various topics of interest to the Canadian commodity sector. He recently spoke to The Northern Miner about his outlook for 2019.

The Northern Miner: In your latest commodity note in mid-October, you said that you believe the U.S.-China trade war will be “long-lived and remain a slow-burn drag on industrial commodity sentiment through to the 2020 U.S. presidential election.” Why don’t we start there?

Rory Johnston: The important thing to note here is that the impact of the trade dispute on metal prices and the market are above and beyond what the impact has been on physical demand so far. The market is betting that the trade dispute will slow global growth and will lead to less demand. We haven’t seen that

yet, but we might see some mild slowing in 2019.

We don’t believe that the trade dispute will intensify further due to the political costs for the White House of a final tranche of traded goods being heavily tilted toward consumer items, like iPhones. We don’t think it’s going to accelerate, but it won’t be solved, either.

It seems relatively popular in the U.S., politically, even if it’s causing consumer prices to rise. Standing up to China on trade holds fairly broad bipartisan support, so even with the Democrats controlling the House, it doesn’t seem likely that it will be materially rolled back any time soon. This will likely come up as an issue in the next presidential elections, frankly. If it was raised, it would be raised as a broader question on the U.S. position on trade and cooperating within the global system, more so than at this stage right now.

TNM: The U.S.-China trade dispute has dented the outlook for base metals demand.

RJ: The world was running quite hot — demand and economic growth were extremely strong. But it can’t be sustained. Both Canada and the U.S. are growing above potential, in terms of the natural run rate of the economy, which is why we see

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We’re your common ground. na.srk.com

1-16_DEC24_Main .indd 12

“COPPER DEMAND IS GOING TO KEEP CHUGGING ALONG AT A STRONG PACE, AND THE SUPPLY ISN’T REALLY THERE IN THE EARLY 2020S. THERE ARE SOME PROJECTS, BUT NOT NEARLY ENOUGH TO FILL THE GAP.” RORY JOHNSTON COMMODITY ECONOMIST, SCOTIABANK

inflation rising and banks beginning to tighten interest rates to slow the economy, which is running a bit too hot, relative to where it should be in the long-term. And Canada and the U.S. are experiencing that right now. So we expect that growth will slow slightly. The peak of that growth is likely behind us now for this cycle, so that will moderately weigh on all commodities next year, but not materially so. We’re talking a slight easing off on the gas pedal.

TNM: What are your price forecasts for some of the base metals? You’ve said recently that copper prices will average US$3 per lb. in 2019 and $3.25 per lb. in 2020.

RJ: The story on copper is that the market right now is underpricing it relative to its fundamentals. It’s not extremely tight at the moment. No one is really scrambling for copper right now, but the entire market knows there will be significant supply deficits coming down the line, with the penetration of higher-tech manufacturing, buildouts of power grids — not to mention the pickup in the electric vehicle (EV) story.

And it all bodes extremely well for copper.

So copper demand is going to keep chugging along at a strong pace, and the supply isn’t really there in the early 2020s. There are some projects, but not nearly enough to fill the gap. Prices need to rise above US$3 per lb. to provide the incentive to finalize investment decisions and break ground, and start the timeline to get a new copper mine from

development to production, which typically takes seven or eight years.

We need investment, and at these prices, we’re probably not going to see that investment. So we see prices moving higher in the early 2020s, we could easily see US$3.50 per lb. copper, if not US$4 per lb. in the early 2020s — 2022 to 2024 — that’s when prices are really going to start picking up, based on the long-term outlook where we see mines coming online and the trend rate for demand, which we think is going to be relatively robust. We don’t see a global recession in our outlook, so the big question is: “When will the market really wake up to the knowledge of those deficits, and when will current pricing begin to reflect that supply gap in today’s market?” We haven’t seen that yet.

TNM: What about zinc?

RJ: It’s been the perennial best performer for the last couple of years.

We finally saw it lose some of its momentum in February, as we started seeing more mines coming online, and demand slowing on the back of weak real estate and construction activity in China. Zinc likely has one more bounce in it before it capitulates to higher supply. The reason for that is that the mines are coming on stream, but new supply hasn’t worked itself into the refined metal market yet. The result is that we have lots of ore but not a lot of metal, and that’s further driven by all of the environmental policies in China, which are pulling back capacity utilization at a bunch of

different smelting facilities around the country, for environmental reasons. So you need a pickup in that capacity to build, and that will begin to happen next year, and we’ll see the zinc price pop up one last time in 2019. After that, prices will gradually come back to US$1.20 per lb. to US$1.15 per lb., longer-term.

Another one of the big ones that have changes coming down the line is nickel. It was doing quite well — it was really picking up [mid-year].

There were lots of deficits for a while and those were slowly eating away at the market, and we saw inventories come down quickly, so prices started to outperform. We had this giant boost from the EV battery story, which pushes prices even higher, before eventually being hit back down beginning in July.

The sentiment around the trade story has hit nickel pretty hard because it’s very much a stainless steel market at the moment, as opposed to an EV story, and a lot of the stainless produced in China is affected by the tariff situation and the trade dispute, so there was a bit of a hit. The EV story was also cooling a little bit, and, finally, the biggest change for nickel has been Chinese investment in Indonesia and nickel capacity there. We expect between 100 and 200 kilo-tonnes of new Indonesian mine supply coming on stream over the next two or three years. That will take the nickel market that was in deficit and move it more into balance in the next couple of years. So we see nickel going to US$7 per lb. by 2020, but it will likely move down, with all these new mines in Indonesia.

They have firm timelines, and they have already started putting bricks and mortar in the ground, and the Chinese government’s capacity to invest in these projects and get them done quickly — that’s really going to bring that supply to market quickly.

TNM: Let’s talk about gold. As you’ve said in your reports, prices have fallen on the back of rising real yields, a See SCOTIABANK / 16

2018-12-18 9:41 PM

OUTLOOK 2019

GLOBAL MINING NEWS

THE NORTHERN MINER / DECEMBER 24, 2018–JANUARY 6, 2019

13

Stormcrow’s Jon Hykawy gives battery metal outlook for 2019 INTERVIEW

| Expert discusses how commodities such as lithium, cobalt and zinc may fare next year

BY RICHARD QUARISA

J

rquarisa@northernminer.com

on Hykawy is the president and director of Stormcrow Capital.

He is a research scientist and expert in lithium, the rare earths, fluorspar and tin. Originally training as a physicist, he has gone on to do technical work with rechargeable batteries, fuel cells and solar and wind power. He recently spoke with The Northern Miner about his outlook for battery metals in 2019.

The Northern Miner: Before looking ahead to 2019, is there anything in the battery metal space that really surprised you in 2018?

Jon Hykawy: It’s going to sound slightly arrogant to say, but no. We were telling a story for a while that said, listen: Lithium was in short supply for a short period of time. The price spike was assisted by investors and speculators that came into the space and started to buy material, and they realized there might be a squeeze coming on. At some point not only was the material supply of lithium going to catch up, but then you were going to see the speculators get out of their positions, because why would you want to be in a space where the prices are coming down and you’re holding physical material? I mean, people aren’t in love with this stuff, they want to make a profit. We saw that happen over the last year.

“THERE AREN’T REALLY ANY LARGE-SCALE COBALT PROJECTS THAT COULD COME ONLINE ON THE ORDER OF A KATANGA THAT CAN REALLY, REALLY MITIGATE AGAINST THE PRICE INCREASES WE’RE LIKELY TO SEE FROM INCREASING DEMAND.” JON HYKAWY PRESIDENT, STORMCROW CAPITAL

have a battery chemistry that does that. If you have any cordless power tools, the battery in those is a lithium battery, but one that contains lithium iron phosphate.

That doesn’t mean cobalt prices are going back to US$4. There are going to be other uses, like your cellphone, your tablet, your laptop — a bunch of designs where you’re limited in terms of size and you want the maximum energy density, and to safely store the maximum amount of energy you can put in these devices. Cobalt’s not directly

related to energy density. It is the defining material for improving your safety margins, however. The more energy you stuff into a battery, the more unstable it gets. Cobalt keeps everything from turning into a large accident.

TNM: How do you see the price of lithium performing in 2019?

JH: I don’t see any spike up. We’re not going to get a repeat of 2017, there’s no reason for that to happen. We actually have a couple of

headwinds to overcome. Tesla in the U.S., for example, is going to be facing a reduction in subsidies this coming year. They’ve hit limits on production. Supposedly they have run through all the subsidies that are required to get them to scale.

Admittedly, they didn’t have a Model 3 at the time, but where we’ve had the subsidies reduced or impinged on in any way for any period of time, Tesla sales have plummeted.

The Chinese have made a point of saying their subsidies will be removed entirely for the battery

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TNM: Is there concern about lithium oversupply?

JH: Well, there is abundant supply right now. That’s without question.

And the price in China is still between US$8,000 and US$11,000 per ton on the spot market. If you’d come to me in 2008 or 2009 and told me lithium companies were going to be getting US$8,000 to US$10,000 for their product, I would have laughed, because the prices were more like US$4,000. So being double that level is not exactly terrifying.

Lithium is never going to be in shortage, but is it going to be massively oversupplied? Well, no, because frankly there’s a limited number of potential sources of really, really cheap lithium. The long-term price for battery-grade chemicals will settle in at around US$10,000 per ton. That’s a reasonable level for the battery industry. It’s a bit expensive for the automotive side of life.

The automotive industry’s solution is not to build out an entirely new electrical grid and recharging stations every place. Their idea is to build weak hybrids, or range extended hybrids. That’s basically a gasoline engine, a diesel engine or a small fuel cell turning a generator, attached to a car that has a small battery pack. The small battery pack is cheap, but it can produce a very large amount of power, so it can handle any level of acceleration within reason. The gasoline, diesel or fuel cell give you the ability to generate electricity on the move.

This solves those infrastructure issues and worries about range limitations that buyers have, but it does it very cost effectively. The other advantage from the point of view of materials is that now I may not need a battery that has the maximum energy density availability. I need a much smaller battery. If I have that, maybe I can use chemistry that doesn’t involve really expensive materials like cobalt. We already

electric vehicle industry within the next year or two years. There is this feeling within China that they may have jumped the gun on the subsidies and on the industry.

The whole idea with electric vehicles wasn’t to make sure that the Americans didn’t get an uninterrupted run to dominance in the next stage of automobile building, but to clean up the city cores. The problem with that approach in China is that their grid is extremely dependent on coal, whereas the U.S. grid has become increasingly dependent on natural gas. If you plug in an electric vehicle in China, it’s an arguable point about whether you’re actually lowering emissions in any way versus driving a gasoline-powered vehicle. You have moved the emissions — they aren’t coming out of the tail pipe directly behind the car,

10/30/2018 9:49:12 AM

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DECEMBER 24, 2018–JANUARY 6, 2019 / THE NORTHERN MINER

OUTLOOK 2019

Milling facilities (top) and primary crushers and a conveyor (bottom) at First Quantum Minerals’ Cobre Panama copper mine under construction in Panama. FIRST QUANTUM MINERALS

WWW.NORTHERNMINER.COM

A rig drilling the first well at Excelsior Mining’s Gunnison in-situ copper mine in Arizona. EXCELSIOR MINING

Fruta del Norte, Cobre Panama lead wave of new mines 2019 MINES From 9

85% complete.

Gold Fields bought half of the project from Gold Road in 2016 for A$350 million, plus a 1.5% net smelter return royalty on production over 2 million ounces.

Gold Fields is managing development and mining operations, while Gold Road handles local exploration.

Meliadine and Amaruq (gold) Agnico Eagle Mines Mid-tier gold miner Agnico Eagle Mines (TSX: AEM; NYSE: AEM) will be opening a pair of gold mines in 2019. Both mines are in the Kivalliq region of Nunavut, where the company has been operating the Meadowbank gold mine since 2010.

The new mines will come online in Meadowbank’s final year of production.

The company reported in September that construction was 89% complete at its US$900-million Meliadine gold mine, which will employ open-pit and underground mining.

Agnico expects to hit commercial production in the second quarter of 2019, and says things are moving slightly ahead of schedule. Meliadine should yield 170,000 oz. gold in 2019 and 385,000 oz. in 2020.

Over 15 years the mine is expected to deliver 5.7 million oz. gold, with average total cash costs of US$531 per oz. gold.

In the third quarter of 2019, Agnico expects to get initial open-pit production from the Whale Tail gold deposit on its Amaruq property. The US$330-million development will see ore trucked 64 km to the mill at its Meadowbank mine.

The initial mine plan would see Whale Tail produce 2.1 million oz. gold from 2019 to 2024, with cash costs of US$832 per ounce.

Eagle (gold) Victoria Gold Next year, Yukon will once again

1-16_DEC24_Main .indd 14

have a producing mine, thanks to Victoria Gold’s (TSXV: VIT) new Eagle gold mine, which is 60% built.

According to a 2016 feasibility study, the Eagle open-pit operation will produce an average of 200,000 oz. gold per year over an 11-year mine life. All-in sustaining costs are pegged at US$638 per oz. gold.

Victoria continues to carry out exploration drilling at Eagle.

In December the junior added 450,000 oz. gold to Eagle’s resource estimate — which now totals 199 million tonnes grading 0.64 gram gold — for more than 4 million contained oz. gold on-site.

Bisie (tin) Alphamin Resources Mauritius-headquartered junior Alphamin Resources (TSXV: AFM) expects to push first ore through the plant at the Bisie tin mine in March 2019, in the Democratic Republic of the Congo’s North Kivu province.

Alphamin’s 12.5-year underground mining plan will target reserves at a rate of 360,000 to 390,000 tonnes per year, producing 9,600 tonnes of tin concentrate per year. Cash costs are estimated at US$8,837 per tonne of tin produced. The company says it will be in the lowest-cost quartile of tin producers.

The company is assessing the likely change of mining method from the originally planned sublevel caving to cut-and-fill due to rock conditions underground, which would affect the mining schedule.

An updated technical report is expected in early 2019.

Lindero (gold) Fortuna Silver Mines In northern Argentina’s Salta province, junior producer Fortuna Silver Mines (TSX: FVI) is preparing to start up its Lindero gold mine by September 2019.

On average, the open-pit operation will crush 18,750 tonnes of ore per day, extracted from a gold-rich porphyry system to produce 96,000

oz. gold per year over a 15-year mine life. Head grades will average 0.62 gram gold per tonne.

The company is spending US$239 million in initial capital costs at Lindero, with US$105 million of sustaining capital required. Fortuna expects all-in sustaining costs for Lindero of US$802 per oz. gold.

Wahgnion (gold) Teranga Gold Gold miner Teranga Gold (TSX: TGE) plans to add a second producing asset to its holdings with the Wahgnion gold project in southwest Burkina Faso.

In November the company said the project is more than half built, with a first gold pour scheduled for December 2019.

In October, Teranga filed an updated technical report with more reserves and improved economics. The latest plan outlines a 13year, open-pit mining operation, producing an average of 114,000 oz. gold per year at all-in sustaining costs of US$904 per oz., with head grades of 1.61 grams gold per tonne.

Aurizona (gold) Equinox Gold In northeastern Brazil’s Maranhao state, junior Equinox Gold (TSXV: EQX) is putting the finishing touches on its Aurizona gold mine, which it expects to hit commercial production in the first quarter of 2019.

The company reported in October that it is 80% done building the planned 6.5-year, open-pit gold mine, which will, on average, process 2.9 million tonnes of ore per year grading 1.52 grams gold per tonne, producing a total of 886,000 oz. gold.

The company estimates all-in sustaining costs of US$754 per oz. gold.

Krumovgrad (gold) Dundee Precious Metals Dundee Precious Metals (TSX: DPM) says it is poised to open Bulgaria’s first greenfield mine in more than 40 years.

The open-pit mine and processing plant are more than 80% built and under budget, according to the company. Hot commissioning of the plant is due in late 2018, with initial gold pouring in the first quarter of 2019.

The mine, as outlined in a 2014 feasibility study, is expected to yield an average of 85,700 oz. gold in concentrate per year over eight years.

Dundee will extract the gold by processing 775,000 tonnes of ore per year grading 4.04 grams gold per tonne. Over its scheduled life, Krumovgrad will produce 685,000 oz. gold, with cash costs of US$403 per oz. gold.

ATO (gold-silver) Steppe Gold Steppe Gold (TSX: STGO) has made much progress since acquiring the Altan Tsaagan Ovoo (ATO) goldsilver project from Centerra Gold in January 2017 for $19.8 million.

The open-pit, heap-leach project was already permitted for production — a milestone Steppe is on track to achieve in the second quarter of 2019.

The mine is scheduled to produce 146,669 oz. gold and 672,518 oz. silver over a five-year mine life, according to an October 2017 feasibility study.

Upfront capital costs totalled US$19.6 million, with operating costs anticipated to be US$48.8 million over the mine life.

Steppe is exploring several nearby targets at ATO to add to the mine’s mineral inventory.

In 2019 the company plans to update ATO’s resource estimate and release a maiden resource for the nearby Mungu oxide deposit.

Lamaque (gold) Eldorado Gold Mid-tier gold miner Eldorado Gold (TSX: ELD; NYSE: EGO) is on schedule to bring its Lamaque gold mine in Val-d’Or, Que., online and expects to hit commercial production early in 2019.

As part of the project Eldorado is refurbishing the historic Sigma mill, which will process 600,000 tonnes of ore per year from the Triangle deposit on the property.

The reserves at Triangle contain 893,000 oz. gold in ore grading 7.3 grams gold per tonne. That ore will drive an initial seven-year underground mining run, producing 117,000 oz. gold per year on average, with all-in sustaining costs of US$717 per oz. gold.

Gold Bar (gold) McEwen Mining McEwen Mining (TSX: MUX; NYSE: MUX) plans to hit production at its Gold Bar gold mine in central Nevada’s Eureka County in early 2019.

Gold Bar’s initial mine schedule entails a seven-year mine life, which will process 16.5 million tonnes of oxide ore grading 0.9 gram gold per tonne for 396,000 oz. gold production. All-in sustaining costs from the open-pit, heap-leach operation are expected to total US$843 per oz. gold.

McEwen will work to expand operations at Gold Bar through near-pit resource expansion, developing its Gold Bar South deposit and other near-mine targets.

Borden (gold) Goldcorp Gold major Goldcorp’s (TSX: G; NYSE: GG) next mine to come online will be the Borden gold mine in Chapleau, Ontario. The miner expects to reach commercial production by the third quarter of 2019.

Goldcorp says Borden will be Canada’s first all-electric underground gold mine, which promises to improve worker safety and lower environmental impacts.

The company expects Borden to deliver one-third of its Porcupine camp’s output by 2020, when Borden should yield 80,000 to 111,000 oz. gold.

Over an eight-year mine life Borden’s costs are estimated at $100 per ton milled. TNM

2018-12-18 9:41 PM

GLOBAL MINING NEWS

OUTLOOK 2019

THE NORTHERN MINER / DECEMBER 24, 2018–JANUARY 6, 2019

15

OUTLOOK SNAPSHOT SNAPSHOT From 11 resulted in two porphyry system discoveries. The assays at the Cole target included a high-grade gold zone discovery containing 11.18 grams gold per tonne over 7.7 metres.

A highlight for Vancouver-based NRG Metals (TSXV: NGZ; US-OTC: NRGMF) in 2018 was its October resource calculation for its Hombre Muerto North project in Argentina’s Salta and Catamarca provinces.

NEO LITHIUM

The new figures include 509,000 tonnes of lithium carbonate equivalent (LCE) and 1.6 million tonnes of potash (KCl) equivalent in the measured resource category, with another 62,000 tonnes of LCE and 231,000 tonnes KCl in the indicated category.

Waldo Perez-led Neo Lithium (TSXV: NLC; US-OTC: NTTHF) is active in South America’s Lithium Triangle. Its Tres Quebradas (3Q) lithium brine project in Argentina’s Catamarca province covers 350 sq. km, and hosts a measured and indicated resource of 714,000 tonnes lithiumcarbonate equivalent at an average grade of 716 milligrams lithium per litre, plus an inferred resource of 1.34 million tonnes lithium-carbonate equivalent at an average grade of 713 milligrams lithium per litre.

The company says 3Q is one of the highest-grade lithium brine projects in the world. It has the lowest impurity content of any known salar; its salar footprint is large, at over 150 sq. km; and it is wholly owned and fully permitted.

Processing facilities at Agnico Eagle MInes’ Meliadine gold mine (top) and a haul truck at the company’s Amaruq gold deposit in Nunavut. AGNICO EAGLE MINES

NRG METALS

Neo Lithium recently contracted GHD — an engineering firm with expertise in lithium brines — to complete a prefeasibility study at 3Q by first-quarter 2019.

GHD completed a preliminary economic assessment (PEA) for 3Q in 2017.

Neo Lithium says the decision to complete a prefeasibility study stems from the “significant technical progress achieved on many fronts post-PEA, including advancements in brine processing and engineering, and a significant increase in the size and grade of the resource estimate of the project.”

The average grade of lithium for the 571,000-tonne combined measured and indicated resource is 756 milligrams per litre lithium, with a low lithium to magnesium ratio of 2.6 to 1.

NRG is looking at beginning a preliminary economic assessment at the project, and expects to award a contract to do so soon.

POWER ORE Toronto-based Power Ore (TSXV: PORE) was spun out in 2018 as an energy metals junior by Stephen Stewart’s Orefinders Resources, and in mid-December agreed to buy a full interest in the Opemiska copper mine complex from privately held ExplorateursInnovateurs de Québec.

Power Ore describes the Opemiska copper mine complex as consisting of two past-producing underground mines in Springer and Perry, and near the town of Chapais, Quebec. Falconbridge operated the Opemiska copper mine complex from 1953 to 1991, when it produced a total of 23 million tonnes at 2.4% copper and 0.3 gram gold per tonne.

“This is a great opportunity for all stakeholders in that the

Opemiska copper complex has the potential to be fast tracked, given its jurisdiction, infrastructure, location and a host of other advantages,” said Power Ore CEO Stephen Stewart in a release. “Another key point for this acquisition is Opemiska’s database, which is a proverbial gold mine of data, which we will utilize to determine the potential for an open-pit mining scenario in what was originally a high-grade, underground mine.”

STANDARD LITHIUM Standard Lithium (TSXV: SLL; USOTC: STLHF) had been exploring and developing its Bristol Dry Lake lithium project in the Mojave region of San Bernardino County, Calif., in recent years, but now has as its flagship the 700-plus sq. km acre Smackover project in southern Arkansas, which the company describes as the “most prolific and productive brine region in North America.”

Standard Lithium says that by securing access to the strategically important resource through agreements with the area’s largest commercial brine operators, it can use the existing infrastructure, including brine supply and disposal pipelines, water, power and a trained workforce to fast track project development timelines.

The firm says its “breakthrough rapid lithium extraction process reduces the recovery time of extracting lithium from brine from the current industry method that takes years to as little as several hours. The process is also much more environmentally friendly, with a significantly smaller foot print than the conventional processes.”

The company has an agreement to locate a demonstration-scale plant in Southern Arkansas in 2019. TNM

Workers inspect equipment at Alphamin Resources’ Bisie tin mine in the Democratic Republic of the Congo. ALPHAMIN RESOURCES

The completed heap-leach pad at McEwen Mining’s Gold Bar gold mine in Nevada. MCEWEN MINING

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DECEMBER 24, 2018–JANUARY 6, 2019 / THE NORTHERN MINER

OUTLOOK 2019

WWW.NORTHERNMINER.COM

Stormcrow’s Jon Hykawy gives battery metal outlook going to want to test the hell out of these things for years to come. But it’s an awfully promising-looking technology.

BATTERY METALS From 13

they’re coming out of a coal-fired power plant at the 6th Ring Road.

But if the wind is blowing in the wrong direction, too bad for you.

In other emerging markets, all of this is still true. These grids are highly dependent on coal. And running a battery electric vehicle — it’s not clear that they’re improving the environment in any way, shape or form. So why should governments be subsidizing these vehicles at this point? Those headwinds are going to face the industry.

Hybrid vehicles are not zero-emission vehicles, but what they are is potentially a way to produce a much lower emission vehicle relatively inexpensively, perhaps at a capital expense that’s even better than a gasoline vehicle. If that’s the case, the industry will be moving in that direction eventually, ironically perhaps impeded by this speed bump of battery electric vehicle development that got everyone excited. It’s going to be an interesting next few years in terms of how this all plays out.

In terms of lithium pricing, the trend right now is down. There’s additional supply coming into the market. I expect the prices to stay relatively flat, but it wouldn’t shock me if there was some downward movement.

TNM: And cobalt?

JH: On the cobalt side, for at least the next year, I think you’re seeing flat to down. But after that — look out. There aren’t really any largescale cobalt projects that could come online on the order of a Katanga that can really, really mitigate against the price increases we’re likely to see from increasing demand.

TNM: Is that upward movement on

TNM: Do you see any movement with the zinc price in 2019?

JH: I do, and it’s going to come down to a bunch of economic intangibles at this point, like what’s global growth, and how do these trade wars impact demand, and the like. But assuming that we’re not impeded too much by that, there’s a fair chance that we’ll see higher zinc prices in 2019. We just don’t have the supply right now that we like. The right economic choice for a lot of these projects is to use galvanized material. The problem will be whether these projects are getting built at all.

TNM: Anything else in the battery metal space that isn’t on people’s radar, but maybe should be, heading in to 2019?

Geological consultant Greg Ashcroft collects a sample at New Age Metals’ Lithium Two lithium property in Manitoba. NEW AGE METALS

the cobalt side two, three years out?

JH: I’d say two, just to be safe.

TNM: Stormcrow started zinc coverage early this year. What’s your outlook on zinc for 2019?

JH: You have a number of long-life mines and high-production mines that are coming to their end-oflife. Already a couple of the top-10 projects in the world have essentially shut down, without any easy replacements.

On the demand side, steel use is always going to be the big use of zinc. What we’ve seen is a switch in the last five or 10 years away from

“Should I use conventional steel in this project and replace it frequently, versus galvanized material?” to an absolute consensus that galvanized metal beats the tar out of regular, unprotected steels, from a costeffectiveness point of view.

The argument now has shifted to “should I use galvanized steel versus stainless?” At this point, the data there is leaning pretty heavily to stainless steel being too expensive, and to stick with galvanized.

The other thing that surprised me was that although we’ve always heard about metal-air batteries on some level, there are a couple companies actively selling electrically rechargeable, zinc-air batteries to

end users. These are never going to be automotive batteries. They’re never going to be in your cell phone, they’re not energy-dense enough.

There’s no possible way to make them work in those regards. But where they do shine is in grid storage. The price points that these companies are working to achieve or have achieved already are at, or better than, the levels of other technologies. And I don’t mean lithium batteries for grid storage. I mean things like pumped hydro and compressed air energy storage, which are sort of the gold standards for grid-level electricity storage.

The electrical generating industry is extremely conservative. They’re

JH: Up until a short while ago, if someone asked me about graphite and especially about graphene, I would have laughed, because the joke about graphene is it’s the material of the future, and it always will be.

Nobody has managed to produce useful graphene at a price point that makes any sense to anybody trying to build a cheap battery.

Graphene has the potential for being useful in batteries. It potentially can hold a much larger number of lithium ions for its weight than graphite can, and has the potential to change the energy density of batteries again. But I’ve come across one private company in Australia that may, I emphasize may, have started to crack that. And if this proves out, it will be an interesting shake up.

That’s something I’ll be watching in the early part of the year. TNM

Scotiabank’s Rory Johnston on ‘volatile’ 2018, outlook for 2019 SCOTIABANK From 12

stronger U.S. currency, rising interest rates and bearish sentiment. You are forecasting gold to average US$1,300 per oz. in 2019?

RJ: Gold is underperforming on the back of a stronger U.S. dollar.

Our outlook for 2018 had initially factored for a weakening of the U.S. dollar, which was supposed to support the price of bullion, providing the counterweight to the bearish pressure of rising rates. Political risk also has seemingly ceased to support gold, as the market numbs to the volume of risk in the headlines today.

TNM: Do you think that rising real interest rates will present the harshest headwinds to gold through 2020?

RJ: The main thing driving gold will be the question of rates and the U.S. dollar. People think the Fed might be slowing its interest rate increases and the market probabilities of futures hikes are shifting lower.

So the bearish driver is the bullish driver, and vice versa. The dollar is holding gold prices back, and it’s going to flip as rates continue to rise and the dollar eventually falls. It will be more structural in the longer term — the rising current account and fiscal deficits have a strong relationship with the dollar’s long-term prospects, and those are pointing decidedly down.

The Fed is increasing interest rates, and what has happened over the last month or so, as some signs of slowing have begun to emerge, is that people are questioning whether

Published by:

the Fed is going to raise rates as quickly as before, or whether it will be a slower pace of tightening.

The fast pace of hikes is what was previously holding gold back, so any weakening in the interest rate path is a positive for gold. We’re also more bearish on the dollar than the market is currently, so yields will present headwinds for gold and a falling dollar will present tailwinds.

TNM: Any comments on the bulks — iron ore?

RJ: Iron ore is now trading at roughly where we expected — at US$67 per tonne right now, and the story on bulks is long-term, lower-cost, highquality ore from Brazil and Australia continuing to come to market, displacing the lower-grade product, primarily in China. And even though

there’s not a ton of action on the benchmark 62% iron ore in China, there’s a lot of action between the higher-grade and the lower-grade ore. As you’ve had environmental cuts in China, a premium for the higher-grade ore (65%) has risen, and the discounts for the lower-quality ore (58%) have also risen. We see iron ore sitting at US$65 per tonne and falling to US$60 per tonne, on a longer-term basis.

TNM: Were there any surprises this year?

RJ: It was a volatile year and all the trade concerns kept things interesting, particularly on stuff like copper. We still believe the market continues to underprice copper on a fundamental basis, in large part because copper is often viewed as the

bellwether of the global economy.

The market is increasingly bearish on global economic growth, and bidding copper down as an expression of that view. We disagree with that thesis, which is why we see copper jumping over the next two years, and even higher later on.

We’re at a bearish point, and at moments like this you see volatility rise, and that will likely remain the case. Copper didn’t react to fairly major news on the mine supply side and things like labour disputes that would typically move the benchmark price up or down a fair bit — but we didn’t see that.

What you did see was that prices react to a trade story later that week, which really points to the fact that the macro story is driving prices, rather than commodity-specific fundamentals. TNM

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18

WWW.NORTHERNMINER.COM

DECEMBER 24, 2018–JANUARY 6, 2019 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / DECEMBER 10–14 The S&P/TSX Composite Index dropped 1.35% to finish at 14,595.07. The S&P/TSX Global Mining Index rose 1.6% to 64.51 and the S&P/TSX Global Base Metals Index increased 0.47% to 101.42. Spot gold fell US$9.70 per oz. to US$1,238.10 per oz., and the S&P/TSX Global Gold Index lost 0.26% to finish at 174.67.

Shares of Wheaton Precious Metals rose on news of a settlement with the Canada Revenue Agency regarding the company’s foreign income in the 2005 to 2010 tax years. The company reported that its foreign income on earnings will be not be subject to tax in Canada. These transfer pricing principles will also apply to all taxation years after 2010, including the 2011 to 2015 taxation years, which are under audit, and on a go-forward basis. The settlement resolved Wheaton’s tax appeal for reassessment under transfer pricing rules related to income generated by the company’s wholly owned foreign subsidiaries. Wheaton Precious Metals jumped $3.35 to $25.34 per share.

Condor Gold surged 44.4% to 78¢ per share. The company recently reported that Nicaragua’s Ministry of Energy and Mines (MEM) has granted it the Las Cruces concession, which is next to its La India project and expands the project’s land package 45% to 456 square kilometres. Condor says the concession “is potentially the heat engine and metal source that caused gold mineralization

across the entire La India gold district.” MEM granted a 25-year exploration and exploitation concession to Condor’s wholly owned Nicaragua subsidiary. The company says its geologists have found a major north- to northeast-striking basement feeder zone through the La India corridor, which hosts 90% of Condor’s 2.4 million oz. gold resource. The feeder zone, Condor says, “can be projected southeast into Las Cruces,” and “mapping and early prospecting and sampling show that Las Cruces lies inside a volcanic caldera, and has extensive clay alteration and rare, vuggy silica.” The company got its environmental permit in August for the development, construction and operation of a processing plant, with capacity to process up to 2,800 tonnes per day.

TSX MOST ACTIVE ISSUES

Nevsun Res Barrick Gold Kinross Gold Suncor Energy Goldcorp First Quantum B2Gold Yamana Gold Royal Nickel Lundin Mng

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

NSU ABX K SU G FM BTO YRI RNX LUN

21049 5.97 5.73 5.91 - 0.06 20609 18.99 18.20 18.25 + 0.03 20464 3.92 3.72 3.85 + 0.07 18923 42.77 39.28 39.62 - 2.26 18258 13.28 12.18 12.21 - 0.31 16092 13.24 11.36 11.70 - 0.39 15016 3.66 3.45 3.49 - 0.07 14195 3.03 2.80 2.84 - 0.19 13200 0.57 0.49 0.52 unch 0.00 12615 5.97 5.60 5.69 - 0.31

Shares of Nautilus Minerals, which is exploring the ocean floor for polymetallic massive sulphide deposits, dropped 29% to 5¢. The company received a US$455,000 loan from Deep Sea Mining Finance under a previously announced, secured, structured credit facility of up to US$34 million.

The proceeds will help fund the company’s working capital requirements, while it seeks the remaining project financing to develop

its Solwara 1 project in Papua New Guinea.

In connection with the latest loan, Nautilus has issued another 1.95 million warrants.

Each warrant entitles the lender to buy one common share of Nautilus for 17¢ within five years. So far Nautilus has issued 73 million share-purchase warrants. The loans carry an annual 8% interest rate and mature on Jan. 8 2019. Nautilus is in discussions to extend the date. TNM

TSX GREATEST PERCENTAGE CHANGE

Atlatsa Res Condor Gold SouthGobi Res Imperial Metal Wheaton Prec M Argex Titanium TriMetals Mng Potash Ridge Sulliden Mng Titan Mining EurOmax Res Nautilus Mnrls Xanadu Mines Troilus Gold Morumbi Res Monarques Res Alamos Gold Capstone Mng Karnalyte Res Western Potash

ATL COG SGQ III WPM RGX TMI SOP SMC TI EOX NUS XAM TLG ASND MQR AGI CS KRN WRX

895 9 17 199 7489 3613 590 913 1337 57 587 1377 13 3259 191 177 9506 2763 111 111

TSX GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Wheaton Prec M Teck Res Teck Res Endeavour Mng SSR Mining Cameco Corp Kirkland Lake Pan Am Silver Caledonia Mng TMAC Resources Nutrien Suncor Energy Labrador Iron Agnico Eagle Alamos Gold Altius Mnrls Nexa Resources North Am Pall Trilogy Mtls Seabridge Gld

0.09 0.05 0.08 + 66.7 0.78 0.61 0.78 + 44.4 0.15 0.11 0.14 + 22.7 1.47 1.05 1.31 + 17.0 26.32 21.70 25.34 + 15.2 0.04 0.03 0.04 + 14.3 0.05 0.04 0.04 + 14.3 0.05 0.04 0.04 + 14.3 0.13 0.10 0.13 + 13.6 1.07 0.96 1.07 + 12.6 0.11 0.07 0.08 - 31.8 0.08 0.05 0.05 - 28.6 0.13 0.13 0.13 - 26.5 0.75 0.55 0.55 - 22.5 0.50 0.39 0.39 - 22.0 0.27 0.21 0.21 - 20.8 4.95 3.88 3.98 - 16.9 0.62 0.50 0.50 - 16.7 0.23 0.18 0.18 - 16.7 0.30 0.25 0.25 - 16.7

VOLUME WEEK (000s) CLOSE CHANGE

WPM TECK.B TECK.A EDV SSRM CCO KL PAAS CAL TMR NTR SU LIF AEM AGI ALS NEXA PDL TMQ SEA

7489 9867 22 1405 1639 5685 5028 1691 2 364 9660 18923 918 4739 9506 360 4 19 108 352

25.34 29.76 30.03 18.19 15.38 15.96 31.74 18.80 7.54 6.58 62.87 39.62 24.07 51.92 3.98 12.13 15.87 11.30 2.46 15.45

+ + + + + + + + + + - - - - - - - - - -

3.35 1.21 1.03 0.92 0.72 0.68 0.63 0.38 0.31 0.29 3.44 2.26 1.66 1.21 0.81 0.76 0.63 0.48 0.46 0.44

TSX VENTURE EXCHANGE / DECEMBER 10–14 Aurion Resources jumped 21¢ to $1.10 per share on drill results from its Risti project in northern Finland. The company reported that high-grade mineralization intersected in several drill holes in the Aamurusko zone may define a coherent zone or shoot made up of at least two primary gold-bearing vein sets filling the space of the shoot. Aurion noted that finding a shoot-like geometry linking intercepts is an “exciting development, as mineralized shoots tend to be vertically continuous for long distances down-plunge, and are expected features in orogenic gold systems.” Highlights included 17.1 grams gold per tonne over 2 metres in drill hole 75, which was 80 metres down-plunge of drill hole 42, which cut 789 grams gold over 2.9 metres. Twenty-five metres up plunge of drill hole 42, drill hole 77 returned 2 metres of an 8.2-metre-wide vein that contained 18 specks of visible gold. Assays for the hole are pending.

Shares of Emerita Resources surged 67% to 3¢, on news that it has received permits to explore the Plaza Norte project in northern Spain. The project in Spain’s Cantabria region is a joint venture with the Aldesa Group, a major Spanish construction and infrastructure firm. Plaza Norte is in the Reocin basin, which hosts the Reocin

mine — formerly one of Europe’s premium zinc producers. The mine produced 62 million tonnes grading 11% zinc and 1% lead. Emerita says Plaza Norte is immediately adjacent and hosts extensions to the Reocin mine, and that the region “has a strong understanding of the economic benefits associated with a modern mining operation.” The exploration permit is for three years and Emirta expects to drill in the first quarter of 2019. The joint-venture partners have a historical database that includes more than 300 drill holes, or 73,000 metres of drilling.

A strategic financing with Goldcorp and RCF Opportunities Fund propelled shares of Japan Gold up 59.3% to 22¢ apiece. Japan Gold announced it plans TSX-V MOST ACTIVE ISSUES

Sokoman Iron Aldershot Res Gratomic Adamera Min Leeta Gold Revelo Res Focus Graphite ATAC Res Nrthn Superior Reunion Gold

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

SIC 15388 ALZ 15001 GRAT 10923 ADZ 6313 HIVE 4735 RVL 4282 FMS 4254 ATC 4052 SUP 3601 RGD 3556

0.22 0.07 0.17 0.11 0.29 0.02 0.05 0.35 0.04 0.21

0.15 0.06 0.13 0.08 0.24 0.00 0.04 0.21 0.02 0.16

0.15 - 0.06 - 0.15 unch 0.10 + 0.25 - 0.01 unch 0.04 - 0.25 - 0.04 + 0.17 -

0.03 0.01 0.00 0.01 0.05 0.00 0.01 0.10 0.01 0.02

to issue 44.33 million common shares at 15¢ per share in a private placement, and raise $6.65 million. Goldcorp has agreed to subscribe for 22.6 million common shares for a 19.9% stake in the junior, and RCF Opps will acquire 10 million shares for an 8.8% interest in the company. Southern Arc Minerals will also buy 10 million shares.

Under the arrangement, Goldcorp will

participate on a joint technical committee. Proceeds from the offering will help explore and develop Japan Gold’s assets in Japan, complete regional reconnaissance work to identify new targets, and for general corporate and working capital.

Japan Gold and First Quantum continue to explore four copper-gold lithocap projects in the country. TNM

TSX-V GREATEST PERCENTAGE CHANGE

Margaret Lake Mangazeya Mng Emerita Res Valterra Res Emgold Mng Quinto Res Japan Gold Rockhaven Res Brigadier Gold MetalCorp Indigo Expl True North Gem Green Valley M Monitor Vent Western Troy C Knick Expl Stroud Res Westkam Gold Barker Mnrls Indico Res

DIA MGZ.H EMO VQA EMR QIT JG RK BRG.H MTC IXI TGX SCT MVI.H WRY KNX SDR WKG BML IDI

2428 1078 2139 304 254 425 1987 1751 428 345 158 706 47 49 492 515 279 395 34 190

0.06 0.04 0.03 0.03 0.10 0.04 0.30 0.15 0.10 0.02 0.02 0.04 0.12 0.46 0.02 0.01 0.01 0.01 0.01 0.01

0.03 0.03 0.02 0.02 0.00 0.00 0.11 0.09 0.06 0.01 0.01 0.01 0.00 0.00 0.00 0.01 0.01 0.00 0.01 0.01

0.06 0.04 0.03 0.03 0.10 0.04 0.22 0.14 0.09 0.02 0.01 0.01 0.06 0.21 0.01 0.01 0.01 0.01 0.01 0.01

TSX-V GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

+ 100.0 + 75.0 + 66.7 + 66.7 + 66.7 + 60.0 + 59.3 + 55.6 + 54.5 + 50.0 - 66.7 - 66.7 - 63.3 - 56.7 - 50.0 - 50.0 - 50.0 - 50.0 - 50.0 - 50.0

VOLUME WEEK (000s) CLOSE CHANGE

Aurion Res Colonial Coal Westhaven Vent Bear Creek Mng Xiana Mng Triumph Gold Lithium Energi Japan Gold Napier Vent White Gold Metalore Res Great Bear Res Hut 8 Mining Cobalt 27 Cap Monitor Vent Golden Secret Standard Lith Maverix Metals Novo Res Wolfeye Res

AU CAD WHN BCM XIA TIG LEXI JG NAP WGO MET GBR HUT KBLT MVI.H TBRD SLL MMX NVO LXG

616 520 794 297 97 223 110 1987 8 2164 2 997 121 1547 49 119 506 40 700 299

1.10 0.55 1.13 1.10 0.50 0.45 0.26 0.22 0.34 1.35 1.75 2.27 1.35 3.98 0.21 1.75 0.90 2.28 1.99 0.58

+ + + + + + + + + + - - - - - - - - - -

0.21 0.16 0.10 0.10 0.10 0.09 0.09 0.08 0.08 0.07 0.48 0.33 0.32 0.32 0.28 0.22 0.20 0.19 0.15 0.13

U.S. MARKETS / DECEMBER 10–14 The gold price fell 0.7% to close the trading week at US$1,238.10. The Philadelphia Gold and Silver Index fell 0.5% to 67.59 and the Dow Jones Industrial Average fell 1.18% to 24,100.51.

The S&P 500 Index fell 1.2% to 2,599.95.

Shares of Iamgold rose 2.7% to US$3.38, after the company announced a maiden resource for its Gossey satellite gold deposit, 15 km northwest of its Essakane gold mine in Burkina Faso. The project has 10.5 million indicated tonnes grading 0.87 gram gold per tonne for 291,000 oz. gold and 2.9 million inferred tonnes at 0.91 gram gold for 85,000 oz. gold. The company based its resource on more than 94,000 metres drilled across 733 holes. The company constrained the resource using an open-pit optimization algorithm that assumed a long-term, US$1,500 per oz. gold price.

Essakane is a 90 to 10 joint venture between Iamgold and the Burkina Faso government.

In 2018’s third quarter, the mine produced 96,000 oz. gold attributable to Iamgold at US$993 per oz. gold all-in sustaining costs.

In the first three quarters of 2018, it produced 302,000 oz. gold attributable to Iamgold, up from 287,000 oz. gold over the same period

18_DEC24_MarketNews.indd 18

the year before.

Shares of Alamos Gold fell 17.5% to US$2.97 on news of an accident at its Mulatos gold mine in Mexico that may have killed two employees.

The men were buried during an “unexpected pit slope movement” during pre-stripping in the mine’s El Salto area. The company says they are missing and presumed dead.

The company is slowing development at its Kirazli gold project in Turkey, where it has finished road construction but is waiting for the Turkish government to issue several permits, including an operating licence.

The Turkish Department of Energy and U.S. MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Vale* VALE 108302 13.29 12.71 12.96 - 0.18 Freeport McMoR* FCX 96127 11.37 10.39 10.57 - 0.35 Barrick Gold* ABX 92874 14.18 13.59 13.66 - 0.02 Kinross Gold* KGC 53536 2.94 2.77 2.88 + 0.03 Cleveland-Clif* CLF 50517 9.10 7.94 8.01 - 0.92 Yamana Gold* AUY 46953 2.28 2.09 2.12 - 0.14 Goldcorp* GG 45285 9.92 9.09 9.14 - 0.29 United States S* X 35660 21.53 19.84 20.02 - 1.29 Chevron Corp* CVX 34660 117.72 111.67 113.83 - 1.66 Newmont Mng* NEM 28448 34.49 33.21 33.31 - 0.08

Natural Resources has told Alamos that its operating licence review follows the normal bureaucratic process. Alamos hopes to receive the licence by early 2019. It will then begin major construction and earthworks at the project. It hopes to begin production

at Kirazli in the second half of 2020.

Shares of Rio Tinto rose US71¢ to US$46.68.

The company recently sold its aluminum smelter in Dunkerque, France, to Liberty House, part of the GFG Alliance, for US$500 million. TNM

U.S. GREATEST PERCENTAGE CHANGE

Wheaton Prec M* AngloGold Ash* Cameco Corp* Teck Res* IAMGOLD* Vedanta* Natural Res Pt* Endeavr Silver* Gold Fields* Rio Tinto* Alamos Gold* Cleveland-Clif* Mechel* Mosaic* CONSOL Energy* Coeur Mng* Yamana Gold* Suncor Energy* United States S* Intrepid Pots*

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

WPM AU CCJ TECK IAG VEDL NRP EXK GFI RIO AGI CLF MTL MOS CNX CDE AUY SU X IPI

23987 19.65 16.21 18.94 + 14.4 16618 12.03 10.97 11.85 + 5.1 12253 12.24 11.34 11.96 + 3.9 15260 22.81 20.52 22.26 + 3.8 21608 3.48 3.23 3.38 + 2.7 2330 11.26 10.26 11.13 + 2.7 223 39.86 37.65 39.17 + 2.3 5037 2.13 1.89 2.01 + 2.0 19336 3.29 3.00 3.22 + 1.6 15522 48.02 44.62 46.68 + 1.5 22413 3.71 2.90 2.97 - 17.5 50517 9.10 7.94 8.01 - 10.3 268 2.52 2.37 2.38 - 8.1 26260 34.14 30.55 30.93 - 7.7 11673 13.47 12.29 12.34 - 7.7 13130 4.24 3.80 3.82 - 7.3 46953 2.28 2.09 2.12 - 6.2 24023 31.92 29.35 29.59 - 6.1 35660 21.53 19.84 20.02 - 6.1 2652 3.14 2.84 2.89 - 5.9

U.S. GREATEST VALUE CHANGE

Wheaton Prec M* WPM Natural Res Pt* NRP Teck Res* TECK Rio Tinto* RIO AngloGold Ash* AU Cameco Corp* CCJ Kirkland Lake* KL Vedanta* VEDL IAMGOLD* IAG Tahoe Res* TAHO MartinMarietta* MLM Nutrien* NTR Mosaic* MOS Suncor Energy* SU Chevron Corp* CVX United States S* X Agnico Eagle* AEM CONSOL Energy* CNX Southern Copp* SCCO Arch Coal* ARCH

VOLUME WEEK (000s) CLOSE CHANGE

23987 18.94 223 39.17 15260 22.26 15522 46.68 16618 11.85 12253 11.96 7443 23.73 2330 11.13 21608 3.38 11655 3.62 3795 174.76 9798 46.98 26260 30.93 24023 29.59 34660 113.83 35660 20.02 7929 38.80 11673 12.34 4079 31.70 1175 83.74

+ 2.39 + 0.87 + 0.81 + 0.71 + 0.57 + 0.45 + 0.36 + 0.29 + 0.09 + 0.05 - 6.72 - 2.88 - 2.59 - 1.92 - 1.66 - 1.29 - 1.12 - 1.03 - 0.98 - 0.95

2018-12-18 9:04 PM

GLOBAL MINING NEWS · SINCE 1915

THE NORTHERN MINER / DECEMBER 24, 2018–JANUARY 6, 2019

19

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 Tuesday, December 18, 2018 Precious Metals Price (US$/oz.)

Change Gold $1239.10 -7.70 Silver $14.60 +0.07 Platinum $784.00 -3.00 Palladium $1249.00 +29.00 Base Metals Nickel Copper Lead Zinc

TSX WARRANTS

PRODUCER AND DEALER PRICES

SPOT PRICES COURTESY OF SCOTIABANK

Price (US$/tonne) Change $10790.00 -195.00 $5958.50 -164.50 $1955.00 +24.00 $2508.00 -29.00

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, December 14, 2018 (change from December 7, 2018 in brackets): Aluminium Alloy 12060 (-240) Aluminium 1150100 (+107200) Copper 121225 (-3225) Lead 106800 (+2350) Nickel 209688 (-1182) Tin 2990 (+125) Zinc 119000 (+5875)

Thermal Coal CAPP: US$40.00 per short ton Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$81.40 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$11.95 Cobalt: US$23.59/lb.

Copper: US$2.76/lb.

Copper: CME Group Futures Jan. 2019: US$2.66/lb.; Feb. 2019: US$2.66/lb Iridium: NY Dealer Mid-mkt US$1,480.00/tr oz.

Iron Ore 62% Fe CFR China-S: US$70.6/tonne.

Lead: US$0.87/lb.

Lithium carbonate min 99.5% Li2CO3 battery grade, spot prices CIF China, Japan & Korea : US$13.00-15.00/kg Lithium hydroxide monohydrate min 56.5% LiOH.H2O battery grade, spot prices cif China, Japan & Korea : US$15-17/ kg Magnesium: n.a.

Manganese Ore Index 37% Mn, cif Tianjin China: US$6.82 per dmtu of metal contained.

Molybdenum Oxide: US$11.79/lb.

Phosphate Rock: US$86.00/tonne Potash: US$226.00/tonne Rhodium: Mid-mkt US$2,515.00 tr. oz.

Ruthenium: Mid-mkt US$270.00/tr. oz.

Silver: Handy & Harman Base: US$14.65 per oz.; Handy & Harman Fabricated: US$18.31 per oz.

Spodumene min 7-7.5% Li20, CIF China, US$900-1000 per tonne.

Tantalite Ore : US$186.50/kg Tin: US$8.85/lb.

Uranium: U3O8, Trade Tech spot price: US$29.00 per lb U308 Zinc: US$1.17/lb.

Prices current Dec. 18, 2018

NORTH AMERICAN STOCK EXCHANGE INDICES

52-week

Index Dec 14 Dec 13 Dec 12 Dec 11 Dec 10 High Low S&P/TSX Composite 14595.07 14750.35 14783.06 14667.83 14728.28 15527.30 12400.15 S&P/TSXV Composite 555.38 556.96 562.24 564.14 563.49 1050.26 883.52 S&P/TSX 60 878.92 886.44 887.89 880.26 885.25 896.74 709.99 S&P/TSX Global Gold 174.67 179.00 178.03 174.93 176.10 218.90 149.29 DJ Precious Metals 148.82 148.82 148.25 145.16 145.96 420.72 130.95

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of Nov 16, 2018 (with changes from Nov 01, 2018) Largest short positions Sandstorm Gold SSL 15433024 135967 11/1/2018 Ivanhoe Mines IVN 13835881 -309852 11/1/2018 Goldcorp G 12185753 5699114 11/1/2018 Osisko Mng Inc OSK 10606179 -64787 11/1/2018 Barrick Gold ABX 10351371 2021093 11/1/2018 Suncor Energy SU 10292261 3285948 11/1/2018 Kinross Gold K 9960987 2284199 11/1/2018 First Quantum FM 9479904 2081667 11/1/2018 Eldorado Gold ELD 9473838 -195975 11/1/2018 OceanaGold OGC 8942349 156128 11/1/2018 Nemaska Lith NMX 8538681 -826187 11/1/2018 Nexgen Energy NXE 7140618 235340 11/1/2018 First Majestic FR 6923422 434263 11/1/2018 Turquoise HIl TRQ 6426316 -1161696 11/1/2018 New Gold NGD 6248186 -1400250 11/1/2018 Largest increase in short position Goldcorp G 12185753 5699114 11/1/2018 Suncor Energy SU 10292261 3285948 11/1/2018 Prophecy Coal PCY 3247500 3214929 11/1/2018 Kinross Gold K 9960987 2284199 11/1/2018 First Quantum FM 9479904 2081667 11/1/2018 Largest decrease in short position New Gold NGD 6248186 -1400250 11/1/2018 Pine Cliff En PNE 1550909 -1198822 11/1/2018 Turquoise HIl TRQ 6426316 -1161696 11/1/2018 Alacer Gold ASR 3472128 -1072536 11/1/2018 McEwen Mng MUX 2783522 -927414 11/1/2018

Short positions outstanding as of Nov 16, 2018 (with changes from Nov 01, 2018) Largest short positions Aldershot Res ALZ 2601824 2121761 11/1/2018 Aldershot Res ALZ 2601824 2071522 11/1/2018 First Cobalt FCC 1770950 1040235 11/1/2018 Prize Mng PRZ 1678021 -713923 11/1/2018 Amarillo Gold AGC 886500 157500 11/1/2018 Leeta Gold HIVE 837700 20826 11/1/2018 Saturn Mnrls SOIL 721749 248582 11/1/2018 Cobalt 27 Cap KBLT 690800 -31500 11/1/2018 Gratomic GRAT 637270 492570 11/1/2018 Sandspring Res SSP 596928 585983 11/1/2018 Atlantic Gold AGB 557440 18440 11/1/2018 Vanadium One VONE 459720 228220 11/1/2018 Equinox Gold EQX 370466 34566 11/1/2018 Zadar Ventures ZAD 321700 321700 11/1/2018 Novo Res NVO 307100 181700 11/1/2018 Largest increase in short position ALZ 2601824 2121761 11/1/2018 Aldershot Res Aldershot Res ALZ 2601824 2071522 11/1/2018 First Cobalt FCC 1770950 1040235 11/1/2018 Sandspring Res SSP 596928 585983 11/1/2018 Gratomic GRAT 637270 492570 11/1/2018 Largest decrease in short position CTEC 0 -2250000 11/1/2018 Central Tim Ex Gowest Gold GWA 10800 -944271 11/1/2018 Berkwood Res BKR 53000 -784765 11/1/2018 Prize Mng PRZ 1678021 -713923 11/1/2018 Jaxon Mining JAX 1249 -286100 11/1/2018

Alamos Gold (AGI.WT.A) - Wt buys sh @ $10.00 to Jan 7/19 Alio Gold Inc. (ALO.WT) - 10 Warrants to purchase one common share of the Issuer at $7.00 until expiry Alio Gold Inc. J (ALO.WT.A) - One Warrant to purchase one common share of the Issuer at $8.00 until expiry Ascendant Resources (ASND.WT) - Wt buys sh @ $1.25 to Mar 7/22 eColbalt Solutions Inc. J (ECS.WT) - One Warrant to purchase one common share of the Issuer at US$1.95 per share until expiry Excellon Resources Inc (EXN.WT.A) - One warrant to purchase one common share of the Issuer at $2.80 until expiry Golden Queen Mining Co (GQM.WT) Wt buys sh @ $2 to Jul 25/19 Gran Colombia Gold (GCM.WT.A) - Wt buys sh @ $3.25 to Mar 18/19 Gran Colombia Gold (GCM.WT.B) - One warrant to purchase one common share of the Issuer at $2.21 until expiry.

Liberty Gold Corp. Wt (LGD.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry may 16, 2019 Lithium Americas Corp (LAC.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry Lydian International Limited (LYD.WT) One Warrant to purchase one additional ordinary share of the Issuer at $0.36 per share until expiry MBAC Fertilizer (MBC.WT) - Wt buys sh @ $1 to Apr 17/19 Nemaska Lithium Inc (NMX.WT) - Wt buys sh @ $1.5 to Jul 8/19 Northern Dynasty Minerals Ltd. J (NDM. WT.A) - Wt buys sh @ $0.55 to Jul 9/20 Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21 Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21 Osisko Gold Royalties (OR.WT) - Wt buys sh @ $36.5 to Feb 18/22

ABE Resources Inc. (ABE.WT) - One warrant to purchase one common share at $0.15 per share.

American Cumo Mining Corp. (MLY.RT) 2 rights and $0.07 are required to purchase one share Antioquia Gold Inc. (AGD.RT) - One (1) Right and $0.042 are required to purchase one share.

Avino Silver & Gold Mines Ltd. (ASM. WT) - Wt buys sh @ US$0.2 to Nov 28/19 Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.30 per share.

Brazil Resources (BRI.WT) - Wt buys sh @ $0.75 to Dec 31/18 Cordoba Minerals Corp (CDB.WT) - One warrant to purchase one common share at $1.08 per share.

Cornerstone Capital Resources (CGP. WT.S) - Wt buys sh @ $0.35 to Apr 07/19 Equinoxgold Corp (EQX.WT) - One warrant to purchase one common share at $3.00 per share.

Falco Resources Ltd. (FPC.WT) - One warrant to purchase one common share at $1.70 per share.

Goldmining Inc. (GOLD.WT) - Wt buys sh @ $0.75 to Dec 31/18 Goldstar Minerals (GDM.RT) - One Right to purchase one common share at $0.03 per share.

Goldstar Minerals Inc. (GDM.RT) - One (1) Right and $0.05 are required to purchase one common share.

JDL Gold Corp. (JDL.WT) - Wt buy sh @ $3.00 to Oct 06/21 Jet Metal (JET.WT) - Wt buys sh @ $0.25 to Sep 16/19 Jet Metal (JET.WT.A) - Wt buys sh @ $0.5 to Feb 28/19 Kootenay Silver Inc. (KTN.WT) - Wt buys sh @ $0.55 to Apr 21/21 LSC Lithium Corporation (LSC.RT) - One (1) right exercisable for One (1) Unit at $0.40 per Unit.

Maple Gold Mines Ltd. (MGM.WT) One warrant to purchase one common share at $0.40 per share

Osisko Gold Royalties (OR.WT.A) - Wt buys sh @ $19.08 to Feb 26/19 Pilot Gold Inc. Wt (PLG.WT) - Wt buys sh @ $0.9 to May 16/19 Platinum Group Metals Ltd. (PTM.WT.U) - One Warrant to purchase one common share of the Issuer at US$0.17 until expiry Prairie Provident Resources Inc Wt (PPR. WT) - Wt buys sh @ $0.87 to Mar 16/19 Sandstorm Gold (SSL.WT.B) - One Warrant to purchase one common share of the Issuer at US $14.00 until expiry.

Sherritt International Corporation (S.WT) - Each whole Warrant entitles the holder to acquire between 1.00 and 1.25 additional common shares (as bulletin 20180062 table ) determined based on the Applicable Reference Cobalt Price at an exercise price of $1.95 per Warrant at any time prior to the Expiry Date Sprott Resource Corp (SRHI.WT) - Wt buys sh @ $0.3333 to Feb 09/22

TSX VENTURE WARRANTS Millennial Lithium Corp. (ML.WT) - One warrant to purchase one common share at $4.25 per share.

Rainy Mountain Royalty Corp. (RMO. WT) - Wt buys sh @ $0.15 to Mar 1/18 and sh @ $0.25 from Mar 2/18 to Mar 1/19 Rainy Mountain Royalty Corp. (RMD. WT) - Wt buys sh @ $0.15 to Mar 1/18 and sh @ $0.25 from Mar 2/18 to Mar 1/19 Sandfire Resources America Inc. (SFR.RT) - Eight (8) Rights exercisable for One (1) share at $0.06 per unit.

Tintina Resources Inc. (TAU.RT) - Nine(9) Rights exercisable for one share at $0.06 per share.

Trek Mining (TREK.WT) - Wt buy sh @ $3.00 to Oct 06/21 Vision Lithium Inc. (VLI.WT) - One warrant to purchase one common share at $0.15 per share.

West Kirkland Mining (WKM.WT) - Wt buys sh @ $0.3 to Apr 17/19 Yellowhead Mining Inc. (YMI.RT) - One (1) Right and $0.12 are required to prchase one Share

NEW 52-WEEK HIGHS AND LOWS DECEMBER 10–14, 2018 30 New Highs

Amex Expl* AngloGold Ash* Atlatsa Res Atlatsa Res* Bryn Res* Canadian Prem* Cda Carbon* Champion Bear Colonial Coal ExGen Res Inc* Franklin Mng* Hycroft Mg* Jayden Res Jayden Res* KAT Expl* Kingsmen Res Kirkland Lake Kirkland Lake* Mount Gibson * Natural Res Pt* NX Uranium* Silver Stream* SSR Mining SSR Mining* Strategic Res

Strategic Res* WAI Cap Invest* Western Pac Rs Western Pac Rs* Ximen Mng*

119 New Lows

ValOre Metals Abacus Mining* Advantage Lith Advantage Lith* Adventus Zinc* Alamos Gold Alamos Gold* Alcoa* Aldebaran Res Altamira Gold* Altura Mining* Alumina Inc* Amarc Res Arctic Star ATAC Res Azimut Expl Barkerville Go* Bird River Res Black Iron* Black Isle Res*

DAILY METAL PRICES

Blue Moon Zinc Braveheart Res Bullfrog Gold* Cabral Gold Cabral Gold* Cameo Cobalt* Cdn Metals* Central Tim Ex Chalice Gold M Chinapintza Mg Cobalt 27 Cap Coeur Mng* Colorado Res Dajin Res* Decade Res* DeepRock Min Desert Lion Desert Lion* Dolly Vard Sil* Essex Minerals Excellon Res* Far Res First Mg Fin First Mg Fin * Fortune Mnrls Freeport McMoR*

Genius Metals Getchell Gold Gitennes Expl Global Atomic GoldMining* Goldplay Expl* Graphite One Greenland M&En* Group Ten Mtls GrowMax Res Helio Res* Highway 50 Gld* Honey Badger E Hut 8 Mining Inca One Gold Indigo Expl Intrepid Pots* K2 Gold Kal Minerals Komet Resource Leading Edge Leeta Gold Liberty One Li* Lions Bay Cap Lucara Diam M.P.V. Explor

Maple Gold Marathon Gold* Matica Ent Mawson Res MDN Inc* Metallic Mnrls Metallis Res MGX Minerals* Millennial Lit Millennial Lit* Millrock Res* ML Gold* Morumbi Res Nevada Expl * Nighthawk Gold Noront Res NRG Metals* Nrthn Graphite* Orezone Gold* Paramount Gold* Pine Cliff En* Platinex Inc* Pure Energy Rio Tinto* Roxgold Running Fox Rs*

Sama Res Satori Res* Sherritt Intl Skeena Res* Solitario Ex&R* Southern Copp* Strikepoint Gd Suncor Energy Suncor Energy* Taseko Mines Taseko Mines* Thunder Mtn Gd* United States S* Vedanta* Visible Gold M* Viva Gold* Western Copper* Westmoreland* Yorbeau Res* Zinc One Res ZincX Res

CANADIAN GOLD MUTUAL FUNDS

Daily Metal Prices Date Dec 17 Dec 14 Dec 13 Dec 12 Dec 11 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) Al Alloy 1410/1400 1405/1400 1410/1410 1410/1400 1390/1400 Aluminum 1937/1924 1907/1920.50 1923/1931 1927/1936 1949/1957 Copper 6095/6109 6103/6100 6195/6184 6150/6143 6162.50/6155 Lead 1911.50/1924 1925/1938 1952/1960 1964/1975 1969/1981.50 Nickel 10930/11000 10730/10810 10795/10860 10715/10775 10760/10850 Tin 19450/19410 19355/19350 19400/19375 19170/19200 19000/18980 Zinc 2579.50/2534 2555/2515 2684/2585 2663/2589.50 2674/2604 PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.)

Gold AM 1239.10 1239.15 1244.45 1244.75 1248.25 Gold PM 1241.65 1235.35 1242.75 1245.75 1245.30 Silver 14.60 14.58 14.68 14.66 14.64 Platinum 782.00 784.00 794.00 790.00 786.00 Palladium 1258.00 1233.00 1262.00 1260.00 1256.00

Fund Dec 14 ($) AGF Prec Mtls Fd MF 16.83 BMO Prec Mtls Fd A 16.19 BMO ZGD 7.72 BMO ZJG 6.54 CIBC Prec Metal Fd A 8.57 Dyn Prec Metls Fd A 6.04 Galileo GOGO 9.16 Horizons HEP IG Mac GbPMetCl A 7.62 iShares XGD 10.93 Mac Prec Met Cl A 39.74 NBI PrecMetFd Invt 10.61 NPT Gold&PrMinFdA 29.85 NPT SilverEquCl A 4.22 RBC GblPreMetFd A 27.90 Sentry Pre Met Fd A 30.92 TD Prec Mtl Fd Inv 28.51

Dec 07 ($) 16.87 16.16 7.76 6.61 8.54 6.17 9.07 21.51 7.69 10.96 40.11 10.65 29.82 4.15 28.24 30.91 28.75

Change ($) Change (%) YTDChange (%) MER (%) TotalAssets (M$) -0.04 -0.24 -22.23 2.80 82.29 0.02 0.13 -14.70 2.40 49.94 -0.04 -0.52 -23.81 0.61 -0.07 -1.12 -30.67 0.60 0.03 0.33 -21.11 2.45 36.05 -0.13 -2.11 -12.27 2.71 298.17 0.08 0.90 -15.47 1.06 5.06 -12.99 -0.07 -0.87 -18.36 2.75 26.77 -0.03 -0.25 -15.70 0.61 727.50 -0.36 -0.91 -18.75 2.52 49.89 -0.04 -0.38 -20.50 2.46 22.76 0.03 0.10 -19.76 3.04 0.07 1.69 -28.86 2.95 -0.34 -1.20 -20.79 2.13 253.50 0.01 0.03 -23.90 2.54 212.16 -0.24 -0.83 -20.18 2.27 91.14

EXCHANGE RATES Date US$ in C$ C$ in US$

Dec 14 Dec 13 Dec 12 Dec 11 Dec 10 1.3383 1.3351 1.3350 1.3379 1.3399 0.7472 0.7490 0.7491 0.7474 0.7463

Exchange rates (Quote Media, December 14, 2018) C$ to AUS C$ to EURO C$ to YEN C$ to Mex Peso C$ to SA Rand 1.037 0.6592 85.0660 15.1956 10.6280 C$ to UK Pound C$ to China Yuan C$ to India Rupee C$ to Swiss Franc C$ to S. Korea Won 0.5920 5.1539 53.6035 0.7444 844.4600 US to AUS US to EURO US to YEN US to Mex Peso US to SA Rand 1.3844 0.8800 113.5650 20.2875 14.1866 US to UK Pound US to China Yuan US to India Rupee US to Swiss Franc US to S. Korea Won 0.7903 6.8817 71.5545 0.9938 1128.0200

Financial information provided by Fundata Canada Inc. ©Fundata Canada Inc. All rights reserved

LEGEND A – Australian Securities Exchange C – Canadian Stock Exchange L – London 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 American * – Denotes price in U.S.$

19_DEC24_MMMM.indd 19

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

GLOBAL MINING NEWS · SINCE 1915

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2018-12-18 5:40 PM

20

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: DECEMBER 10–14, 2018 (100s) Stock

WWW.NORTHERNMINER.COM

DECEMBER 24, 2018–JANUARY 6, 2019 / THE NORTHERN MINER

Week

12-month

Exc Volume High Low Last Change High Low

A African Gold* O 15 37 Capital 229 60 North Gold* O 87 374 60 North Gold 92 Resources* O 40 92 Resources V 1053 Abacus Mining V 254 Abacus Mining* O 302 Abcourt Mines V 2161 Abcourt Mines* O 312 O 339 Aben Resources* Aben Resources V 1963 Aberdeen Intl* O 3 Aberdeen Intl T 2231 Abitibi Royal* O 1 Abitibi Royal V 7 O 279 AbraPlata Res* AbraPlata Res V 603 Acacia Mining* O 0 Adamera Min V 6313 O 929 Adamera Min* Adex Mining V 88 Advance Gold V 30 O 73 Advanced Expl* Advantage Lith V 569 Advantage Lith* O 538 Adventus Zinc V 146 Adventus Zinc* O 28 Aethon Mineral V 95 AEX Gold V 30 Affinity Metal* O 5 African Gold V 89 Aftermath Silv V 389 O 25 Aftermath Silv* Agnico Eagle* N 7929 Agnico Eagle T 4739 AgriMinco* O 3 Aguia Resource V 312 5 Aguila Amer Gd V AJN Resources 5 Alacer Gold T 2061 Alamos Gold T 9506 Alamos Gold* N 22413 Alaska Pac Egy* O 0 Alba Minerals* O 5 Albert Mining V 58 O 4 Albert Mining* Alcoa* N 14439 Aldebaran Res V 117 Alderon Iron* O 32 Alderon Iron T 162 15001 Aldershot Res V Aldershot Res* O 56 Aldever Res V 7 Aldever Res* O 6 Aldridge Min V 226 Aldridge Min* O 15 Alexandra Cap* O 4 O 628 Alexandria Min* Alexandria Min V 2899 Alexco Res* X 692 Alexco Res T 356 Algold Res* O 5 Algold Res V 72 Alianza Min V 1291 Alianza Min* O 16 V 24 Allante Potash Allegiant Gold V 199 Allegiant Gold* O 234 Alliance Mng V 339 Alliance Res* D 1608 X 1104 Almaden Mnls* Almaden Mnls T 270 Almonty Ind T 116 Almonty Ind * O 81 Alphamin Res V 176 5 Alphamin Res * O Altai Resource V 1079 Altai Resource* O 3 Altair Res Inc* O 1 721 Altair Res Inc V Altamira Gold V 2574 Altamira Gold* O 101 Altan Nevada V 400 Altan Rio Min V 236 Altiplano Met V 70 Altius Mnrls * O 103 Altius Mnrls T 360 O 2830 Alto Ventures* Alto Ventures V 966 Altura Mining* O 128 Alturas Min V 5 Altus Strat V 1554 Alumina Inc* O 217 ALX Uranium* O 56 ALX Uranium V 155 AM Resources V 27 Amador Gold V 1017 Amani Gold* O 70 Amanta Res* O 0 Amarc Res* O 13 Amarc Res V 356 Amarillo Gold V 996 O 554 Amarillo Gold* Amazing Energy* O 71 Amer Intl Vent* O 13 American Creek* O 32 American Creek V 433 American CuMo* O 174 American Lith V 1559 American Lith* O 1392 American Mang* O 451 V 846 American Mang American Pac 678 American Pac* O 212 O 9 AmericanSierra* Americas Silvr* X 369 T 349 Americas Silvr Amerigo Res T 359 Amerigo Res* O 274 Amex Expl* O 10 Amex Expl V 2228 Amseco Expl V 10 Anaconda Mng T 285 Anaconda Mng* O 82 Anconia Res V 2155 Andes Gold* O 1 Anfield Energy* O 176 V 914 Anfield Energy Angel Gold* O 31 Angel Gold V 173 Angkor Gold V 66 Anglo American* O 675 Anglo American* O 10 Anglo Pac Grp T 11 AngloGold Ash* O 2 AngloGold Ash* N 16618 Antioquia Gold V 125 Antioquia Gold* O 50 Antler Gold V 1222 Antofagasta* O 11 APAC Res Inc 48 Apex Res V 92 Apex Res * O 10 Apogee Opport * O 162 Appia Energy 129 Appia Energy* O 163 Applied Mrnls* O 880 Aquila Res* O 928 Aquila Res T 802 Arch Coal* N 1175 Archon Mineral V 3 Arco Res* O 462 Arctic Star V 981 Arcturus Vent V 10 Arcus Dev Grp V 355 Arena Mnls V 209 Arena Mnls* O 154 Argentina Lith* O 14 Argentina Lith V 34 Argentum Silvr V 98 Argex Titanium T 3613 Argex Titanium* O 7 Argo Gold* O 50 Argo Gold 77

20-23_DEC24_StockTables.indd 20

0.01 0.01 0.01 unch 0.00 0.05 0.01 0.18 0.00 0.18 - 0.03 0.35 0.10 0.04 0.04 0.04 unch 0.00 0.16 0.04 0.08 0.06 0.06 + 0.01 0.24 0.05 0.03 0.02 0.02 - 0.01 0.20 0.02 0.04 0.03 0.04 + 0.01 0.27 0.03 0.09 0.00 0.08 + 0.01 0.79 0.07 0.07 0.05 0.06 + 0.00 0.62 0.05 0.07 0.05 0.06 + 0.01 0.08 0.04 0.05 0.03 0.05 + 0.02 0.06 0.03 0.11 0.08 0.09 - 0.02 0.38 0.09 0.14 0.12 0.13 - 0.01 0.49 0.12 0.05 0.05 0.05 unch 0.00 0.16 0.05 0.07 0.06 0.06 - 0.01 0.21 0.06 7.12 0.00 6.99 + 0.17 8.14 5.89 9.45 9.10 9.25 - 0.10 10.45 7.98 0.04 0.03 0.04 + 0.00 0.42 0.03 0.06 0.04 0.05 unch 0.00 0.52 0.04 2.28 2.28 2.28 unch 0.00 2.77 1.43 0.11 0.08 0.10 + 0.01 0.20 0.04 0.08 0.06 0.08 + 0.01 0.17 0.03 0.01 0.00 0.01 unch 0.00 0.04 0.01 0.08 0.00 0.07 - 0.02 0.60 0.06 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.57 0.48 0.54 - 0.05 1.39 0.48 0.44 0.36 0.40 - 0.04 1.14 0.36 0.83 0.80 0.81 - 0.03 1.16 0.51 0.61 0.58 0.60 - 0.03 0.90 0.58 0.17 0.15 0.16 + 0.01 0.85 0.14 0.34 0.00 0.34 - 0.01 0.56 0.33 0.06 0.06 0.06 unch 0.00 0.06 0.04 0.03 0.00 0.03 unch 0.00 0.06 0.02 0.09 0.07 0.07 - 0.01 0.20 0.07 0.07 0.00 0.06 + 0.00 0.14 0.05 40.56 38.37 38.80 - 1.12 49.80 32.18 54.13 51.44 51.92 - 1.21 62.80 42.35 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.13 0.12 0.12 + 0.01 0.50 0.10 0.19 0.19 0.19 unch 0.00 0.30 0.17 0.00 0.00 0.08 unch 0.00 0.20 0.08 2.21 2.10 2.15 + 0.01 2.97 1.97 4.95 3.88 3.98 - 0.81 8.49 4.13 3.71 2.90 2.97 - 0.63 6.84 3.09 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.06 0.06 0.06 + 0.01 0.33 0.05 0.03 0.03 0.03 unch 0.00 0.10 0.02 0.03 0.00 0.02 + 0.00 0.08 0.01 29.99 27.85 28.61 - 0.21 62.35 27.85 0.48 0.45 0.45 - 0.04 0.90 0.45 0.23 0.22 0.22 - 0.01 0.29 0.17 0.31 0.26 0.27 - 0.01 0.38 0.21 0.07 0.06 0.06 - 0.01 0.45 0.03 0.05 0.04 0.05 - 0.00 0.35 0.03 0.03 0.00 0.03 - 0.01 0.12 0.03 0.02 0.00 0.02 - 0.01 0.10 0.02 0.10 0.08 0.08 - 0.02 0.16 0.05 0.35 0.07 0.07 unch 0.00 0.35 0.03 0.43 0.43 0.43 unch 0.00 0.48 0.43 0.03 0.00 0.02 - 0.00 0.09 0.01 0.04 0.03 0.04 + 0.01 0.12 0.02 0.83 0.75 0.79 + 0.02 1.79 0.68 1.10 0.99 1.06 + 0.04 2.18 0.92 0.35 0.35 0.35 unch 0.00 0.59 0.35 0.43 0.00 0.37 - 0.08 1.90 0.38 0.07 0.06 0.06 unch 0.00 0.15 0.05 0.05 0.05 0.05 - 0.01 0.10 0.04 0.13 0.13 0.13 unch 0.00 0.13 0.06 0.22 0.17 0.17 - 0.05 0.75 0.17 0.17 0.12 0.13 - 0.03 0.58 0.00 0.02 0.02 0.02 unch 0.00 0.06 0.01 19.83 19.41 19.60 + 0.03 21.90 15.55 0.69 0.63 0.64 - 0.02 1.05 0.48 0.91 0.83 0.85 - 0.04 1.35 0.63 0.75 0.67 0.71 unch 0.00 0.98 0.35 0.54 0.51 0.54 + 0.02 0.73 0.29 0.26 0.25 0.25 unch 0.00 0.33 0.22 0.20 0.20 0.20 unch 0.00 0.27 0.17 0.10 0.08 0.09 - 0.02 0.47 0.07 0.00 0.00 0.09 unch 0.00 0.36 0.05 0.03 0.03 0.03 unch 0.00 0.07 0.02 0.04 0.04 0.04 unch 0.00 0.48 0.04 0.08 0.05 0.06 - 0.02 0.35 0.06 0.06 0.04 0.05 - 0.02 0.29 0.05 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.02 0.02 0.02 unch 0.00 0.02 0.01 0.18 0.14 0.15 - 0.03 0.64 0.14 9.70 9.05 9.05 - 0.63 12.50 9.00 12.95 12.07 12.13 - 0.76 15.58 11.82 0.01 0.01 0.01 unch 0.00 0.06 0.01 0.02 0.02 0.02 unch 0.00 0.08 0.02 0.14 0.12 0.13 - 0.01 0.40 0.13 0.01 0.01 0.01 unch 0.00 0.06 0.01 0.06 0.05 0.05 - 0.01 0.15 0.04 6.49 6.15 6.22 - 0.10 8.97 6.15 0.06 0.04 0.04 - 0.01 0.08 0.04 0.08 0.00 0.07 unch 0.00 0.11 0.06 0.18 0.16 0.16 - 0.03 0.31 0.12 0.70 0.59 0.65 + 0.05 1.10 0.54 0.00 0.00 0.00 unch 0.00 0.02 0.01 0.00 0.00 0.00 unch 0.00 0.05 0.04 0.05 + 0.00 0.14 0.04 0.06 0.05 0.06 - 0.01 0.17 0.05 0.24 0.21 0.22 + 0.01 0.42 0.19 0.19 0.16 0.16 + 0.00 0.32 0.15 0.24 0.18 0.24 + 0.02 0.94 0.10 0.02 0.02 0.02 unch 0.00 0.05 0.00 0.03 0.03 0.03 + 0.00 0.06 0.02 0.04 0.03 0.04 unch 0.00 0.07 0.03 0.06 0.03 0.03 - 0.01 0.10 0.02 0.49 0.41 0.45 + 0.02 0.74 0.22 0.37 0.30 0.34 + 0.01 0.69 0.18 0.13 0.10 0.12 + 0.01 0.25 0.10 0.17 0.14 0.16 + 0.02 0.31 0.13 0.07 0.06 0.06 unch 0.00 0.41 0.06 0.05 0.04 0.04 - 0.01 0.32 0.04 0.02 0.00 0.02 + 0.01 0.04 0.01 1.48 1.34 1.36 - 0.05 4.65 1.31 1.98 1.78 1.80 - 0.06 5.74 1.73 0.92 0.83 0.86 - 0.07 1.35 0.67 0.69 0.62 0.65 - 0.04 1.09 0.51 0.12 0.12 0.12 unch 0.00 0.12 0.04 0.19 0.13 0.16 + 0.02 0.22 0.06 0.05 0.05 0.05 - 0.01 0.29 0.01 0.24 0.21 0.21 - 0.01 0.56 0.18 0.19 0.15 0.16 - 0.01 0.48 0.14 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.01 0.01 0.01 - 0.00 0.01 0.00 0.18 0.16 0.17 + 0.00 0.45 0.15 0.25 0.21 0.22 + 0.01 0.59 0.19 0.03 0.03 0.03 + 0.01 0.08 0.01 0.04 0.03 0.03 unch 0.00 0.12 0.02 0.16 0.14 0.15 - 0.01 0.23 0.13 10.79 9.80 10.51 + 0.40 13.13 9.36 21.43 0.00 21.23 + 0.78 26.05 18.66 2.15 2.14 2.15 unch 0.00 4.75 1.31 11.81 11.00 11.00 unch 0.00 11.81 7.38 12.03 10.97 11.85 + 0.57 12.03 7.08 0.02 0.02 0.02 unch 0.00 0.10 0.02 0.02 0.01 0.02 unch 0.00 0.05 0.01 0.10 0.07 0.10 + 0.03 0.27 0.07 10.18 0.00 10.18 + 0.55 15.70 9.27 0.17 0.17 0.17 unch 0.00 0.50 0.17 0.05 0.04 0.05 + 0.01 0.15 0.04 0.04 0.04 0.04 unch 0.00 0.09 0.04 0.28 0.20 0.22 - 0.03 0.50 0.00 0.25 0.00 0.25 + 0.01 0.32 0.11 0.19 0.16 0.19 + 0.01 0.26 0.08 0.08 0.04 0.05 + 0.00 0.25 0.04 0.13 0.11 0.11 - 0.02 0.30 0.10 0.17 0.15 0.16 - 0.02 0.39 0.13 87.96 82.73 83.74 - 0.95 102.61 75.09 0.66 0.66 0.66 unch 0.00 1.31 0.62 0.78 0.61 0.65 + 0.05 1.39 0.38 0.06 0.05 0.05 - 0.01 0.26 0.06 0.09 0.09 0.09 unch 0.00 0.16 0.09 0.05 0.04 0.04 - 0.02 0.07 0.03 0.07 0.06 0.07 unch 0.00 0.11 0.06 0.05 0.04 0.04 - 0.01 0.08 0.04 0.09 0.00 0.07 - 0.03 0.38 0.03 0.12 0.00 0.12 unch 0.00 1.88 0.10 0.13 0.10 0.12 + 0.01 0.33 0.10 0.04 0.03 0.04 + 0.01 0.07 0.03 0.03 0.03 0.03 - 0.01 0.05 0.01 0.15 0.14 0.15 unch 0.00 0.16 0.08 0.19 0.18 0.18 + 0.03 0.21 0.07

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Argonaut Gold* O 67 T 983 Argonaut Gold Arian Silver* O 24 Arianne Phosph V 198 O 196 Arianne Phosph* Arizona Silver* O 135 Arizona Silver V 1108 Armor Mnrls V 4 Asanko Gold T 155 Asanko Gold* X 779 Asante Gold 268 O 11 Ascot Res * Ascot Res V 211 Ashanti Gold V 724 Ashanti Sanko V 62 V 12 AsiaBaseMetals Asiamet Res* O 0 Asian Minl Res V 12 Aston Bay V 435 Aston Bay* O 263 Astorius Res V 308 Astur Gold V 90 ATAC Res V 4052 Atacama Res* O 200690 Athabasca Mnls* O 30 Athabasca Mnls V 375 Atico Mng* O 198 Atico Mng V 218 Atlanta Gold* O 3 Atlanta Gold V 252 Atlantic Gold V 2265 Atlantic Ind V 10 Atlatsa Res* O 309 Atlatsa Res T 895 Atom Energy * O 27 Aton Res Inc* O 3 Aton Res Inc V 2201 Aura Mnls* O 3 Aura Mnls T 749 Aura Resources V 1324 O 0 Aura Resources* Auramex Res V 454 Aurania Res* O 5 Aurania Res V 77 Aurcana Corp* O 14 AurCrest Gold V 416 Aurion Res * O 221 Aurion Res V 616 Aurora Royal V 300 Aurum* O 6 AURYN Mining* O 3 Auryn Res T 220 Auryn Res* X 268 Austin Res V 20 Austral Gold* O 2 Austral Gold V 117 Australian Mns* O 178 Auxico Res 437 Avalon Adv Mat T 937 Avalon Adv Mat* O 208 Avarone Metals 414 Avenira Ltd* O 8 Avesoro Res T 2 Avidian Gold V 273 Avino Silver* X 1331 Avino Silver T 192 Avrupa Mnls* O 166 Avrupa Mnls V 634 Awale Res V 32 Axiom Mng* O 273 Axmin Inc* O 39 Axmin Inc V 87 V 82 Azarga Metals Azarga Metals* O 0 Azarga Uranium* O 392 Azarga Uranium T 528 Aziel Corp* O 0 Azimut Expl V 82 Azimut Expl* O 8 Azincourt Ener* O 16 Azincourt Ener V 371 Aztec Minerals V 167 Azteca Gold* O 60 Azucar Min V 333 Azucar Min* O 264

0.99 0.93 0.93 - 0.02 2.33 0.89 1.32 1.22 1.24 - 0.01 2.87 1.18 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.49 0.42 0.42 - 0.02 0.72 0.39 0.37 0.31 0.34 - 0.00 0.58 0.30 0.06 0.04 0.05 + 0.00 0.18 0.04 0.07 0.06 0.07 unch 0.00 0.23 0.06 0.40 0.40 0.40 unch 0.00 0.73 0.30 0.98 0.89 0.92 - 0.05 1.79 0.55 0.76 0.67 0.69 - 0.04 1.38 0.43 0.05 0.03 0.03 - 0.01 0.08 0.03 1.02 0.95 0.98 - 0.04 1.28 0.59 1.44 1.25 1.26 - 0.05 1.65 0.76 0.05 0.05 0.05 unch 0.00 0.25 0.05 0.03 0.03 0.03 - 0.01 0.10 0.03 0.27 0.23 0.23 - 0.05 0.40 0.15 0.08 0.08 0.08 unch 0.00 0.19 0.07 0.35 0.00 0.35 unch 0.00 7.00 0.30 0.07 0.05 0.07 + 0.02 0.29 0.05 0.05 0.04 0.04 - 0.00 0.20 0.04 0.03 0.03 0.03 unch 0.00 0.15 0.03 0.30 0.00 0.30 unch 0.00 0.31 0.19 0.35 0.21 0.25 - 0.10 0.65 0.21 0.00 0.00 0.00 + 0.00 0.00 0.00 0.20 0.16 0.16 - 0.01 0.27 0.09 0.30 0.21 0.22 - 0.05 0.35 0.12 0.23 0.21 0.23 + 0.01 0.65 0.21 0.30 0.29 0.30 unch 0.00 0.80 0.28 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.04 0.04 0.04 unch 0.00 0.07 0.04 1.76 1.63 1.69 - 0.02 1.99 1.40 0.01 0.01 0.01 unch 0.00 0.09 0.01 0.07 0.03 0.05 + 0.02 0.07 0.01 0.09 0.05 0.08 + 0.03 0.09 0.02 0.20 0.20 0.20 unch 0.00 0.34 0.00 0.03 0.03 0.03 - 0.01 0.08 0.02 0.06 0.04 0.05 unch 0.00 0.11 0.02 1.42 1.42 1.42 unch 0.00 2.38 1.22 1.99 1.85 1.91 + 0.06 3.00 1.46 0.06 0.03 0.04 - 0.01 0.23 0.03 0.00 0.00 0.01 unch 0.00 0.04 0.01 0.04 0.04 0.04 - 0.01 0.10 0.03 2.03 1.96 2.00 - 0.01 6.06 1.03 2.77 2.59 2.70 unch 0.00 7.57 1.90 0.17 0.00 0.11 - 0.06 0.25 0.00 0.02 0.02 0.02 unch 0.00 0.04 0.02 1.01 0.69 0.83 + 0.15 1.74 0.52 1.24 0.90 1.10 + 0.21 2.26 0.67 0.09 0.00 0.09 + 0.01 0.24 0.03 0.05 0.05 0.05 unch 0.00 0.10 0.05 0.96 0.55 0.55 - 0.05 5.00 0.16 1.36 1.22 1.28 - 0.05 2.17 1.16 1.02 0.92 1.00 + 0.00 2.00 0.87 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.06 0.06 0.06 + 0.05 0.12 0.01 0.10 0.07 0.07 - 0.01 0.17 0.06 0.06 0.03 0.06 + 0.03 0.33 0.02 0.18 0.14 0.15 - 0.04 0.43 0.14 0.07 0.06 0.06 - 0.01 0.16 0.05 0.05 0.04 0.05 - 0.01 0.13 0.04 0.07 0.04 0.07 + 0.03 0.14 0.04 0.01 0.01 0.01 unch 0.00 0.03 0.01 2.62 2.34 2.34 - 0.28 5.99 2.40 0.45 0.40 0.40 - 0.05 0.70 0.26 0.56 0.51 0.54 + 0.01 1.61 0.50 0.74 0.68 0.71 - 0.01 1.99 0.65 0.04 0.03 0.04 + 0.00 0.10 0.03 0.06 0.05 0.05 unch 0.00 0.13 0.04 0.08 0.08 0.08 unch 0.00 0.48 0.08 0.00 0.00 0.07 unch 0.00 0.12 0.07 0.18 0.00 0.17 - 0.02 0.23 0.02 0.27 0.24 0.26 - 0.01 0.30 0.03 0.14 0.11 0.14 + 0.02 0.16 0.10 0.00 0.00 0.10 unch 0.00 0.16 0.05 0.19 0.17 0.19 - 0.01 0.24 0.14 0.26 0.24 0.24 - 0.01 0.34 0.18 0.00 0.00 0.75 unch 0.00 9.10 0.70 0.29 0.00 0.29 unch 0.00 0.48 0.22 0.19 0.18 0.19 + 0.01 0.32 0.17 0.06 0.04 0.04 - 0.00 0.23 0.04 0.07 0.06 0.07 - 0.01 0.37 0.06 0.15 0.15 0.15 unch 0.00 0.38 0.14 0.00 0.00 0.00 - 0.00 0.00 0.00 0.47 0.38 0.38 - 0.06 1.75 0.37 0.35 0.28 0.28 - 0.06 1.44 0.27

B2Gold T 15016 B2Gold* X 24425 Balmoral Res* O 175 Balmoral Res T 619 Balto Res V 5 Bankers Cobalt* O 32 Bankers Cobalt V 1863 Bannerman Res* O 779 Banyan Gold V 544 Banyan Gold* O 149 Bard Ventures* O 1 Bard Ventures V 147 Barker Mnrls V 34 Barkerville Go* O 248 Barkerville Go V 493 Barolo Vent V 176 Barolo Vent* O 252 Baroyeca Go&Si V 45 Barrick Gold* N 92874 Barrick Gold T 20609 Barsele Min* O 54 Barsele Min V 53 Batero Gold V 91 Bayhorse Silvr* O 172 Bayhorse Silvr V 967 BC Moly V 13 BCM Res V 22 BE Res V 14 297 Bear Creek Mng V Bearclaw Cap V 14 Bearing Lith V 208 Bearing Lith* O 63 Beeston Ent* O 1038 Bell Copper* O 77 Belmont Res V 651 Belo Sun Mng T 1008 Belvedere Res V 56 Belvedere Res* O 11 BeMetals V 404 V 437 Benchmark Met Benchmark Met* O 25 Benton Res V 81 Berkeley Egy* O 3 Berkwood Res * O 14 Berkwood Res V 452 Bird River Res 2818 Bitterroot Res* O 12 Bitterroot Res V 251 Black Dragon V 152 Black Dragon* O 120 Black Hills* N 2342 Black Iron T 586 Black Iron* O 230 Black Isle Res* O 33 Black Sea Cop V 693 Black Sea Cop* O 39 Black Tusk Res 136 Black Tusk Res* O 5 Blackheath Res V 440 Blackrock Gold* O 23 Blackrock Gold V 435 Blind Crk Res V 206 BLOX Inc* O 61 Blue Moon Zinc* O 108 Blue Moon Zinc V 1410 Blue Rvr Res V 987 Blue Sky Uran* O 186 Blue Sky Uran V 350 Bluenose Gold V 429 Bluestone Res* O 7 Bluestone Res V 32 Bold Ventures V 277 Bonanza Gldfds* O 996 BonTerra Res V 165 BonTerra Res* O 44 Boreal Metals V 152 Borneo Res Inv* O 1225 Bravada Gold V 1011 Bravada Gold* O 53 Braveheart Res V 186

3.66 3.45 3.49 - 0.07 4.06 2.77 2.73 2.58 2.62 - 0.06 3.30 2.10 0.12 0.10 0.11 - 0.00 0.47 0.10 0.16 0.14 0.14 - 0.01 0.57 0.14 0.13 0.13 0.13 unch 0.00 0.38 0.05 0.03 0.02 0.03 + 0.00 0.68 0.02 0.04 0.03 0.03 unch 0.00 0.85 0.03 0.04 0.03 0.03 - 0.00 0.06 0.03 0.05 0.04 0.04 - 0.01 0.13 0.04 0.04 0.03 0.04 + 0.01 0.10 0.02 0.18 0.18 0.18 unch 0.00 0.21 0.02 0.24 0.21 0.23 + 0.02 0.33 0.03 0.01 0.01 0.01 - 0.01 0.03 0.01 0.26 0.24 0.25 - 0.02 0.62 0.24 0.35 0.33 0.33 - 0.03 0.78 0.33 0.25 0.00 0.25 unch 0.00 0.30 0.09 0.19 0.19 0.19 unch 0.00 0.19 0.00 0.01 0.01 0.01 unch 0.00 0.04 0.01 14.18 13.59 13.66 - 0.02 15.52 9.53 18.99 18.20 18.25 + 0.03 19.49 12.54 0.38 0.34 0.34 - 0.03 0.68 0.34 0.50 0.46 0.46 - 0.04 1.03 0.44 0.07 0.07 0.07 + 0.01 0.12 0.06 0.09 0.07 0.08 + 0.00 0.22 0.06 0.11 0.10 0.10 + 0.01 0.27 0.09 0.03 0.03 0.03 - 0.02 0.16 0.03 0.15 0.12 0.14 + 0.01 0.26 0.09 0.02 0.02 0.02 unch 0.00 0.07 0.02 1.27 0.99 1.10 + 0.10 2.60 0.89 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.26 0.22 0.25 + 0.01 0.97 0.21 0.19 0.16 0.18 - 0.00 0.80 0.02 0.02 0.00 0.01 + 0.00 0.04 0.00 0.05 0.04 0.04 - 0.01 0.16 0.03 0.05 0.04 0.04 - 0.01 0.10 0.03 0.35 0.27 0.30 + 0.01 0.47 0.17 0.50 0.46 0.50 unch 0.00 0.96 0.46 0.38 0.38 0.38 - 0.00 0.52 0.00 0.24 0.22 0.24 + 0.02 0.32 0.15 0.20 0.16 0.17 unch 0.00 0.39 0.16 0.15 0.13 0.13 - 0.01 0.30 0.06 0.05 0.05 0.05 + 0.01 0.09 0.04 0.13 0.13 0.13 unch 0.00 0.80 0.12 0.06 0.00 0.06 - 0.01 0.29 0.05 0.09 0.07 0.08 unch 0.00 0.37 0.07 0.05 0.04 0.04 - 0.02 0.63 0.04 0.02 0.02 0.02 - 0.00 0.11 0.01 0.03 0.00 0.03 unch 0.00 0.14 0.02 0.10 0.10 0.10 unch 0.00 0.39 0.10 0.09 0.06 0.09 + 0.01 0.14 0.04 68.09 66.42 66.66 - 0.68 68.23 50.49 0.06 0.05 0.06 + 0.01 0.13 0.05 0.04 0.04 0.04 - 0.01 0.10 0.04 0.00 0.00 0.00 unch 0.00 0.03 0.00 0.03 0.03 0.03 - 0.01 0.15 0.03 0.03 0.00 0.02 - 0.00 0.12 0.02 0.23 0.19 0.22 + 0.01 0.29 0.13 0.16 0.16 0.16 unch 0.00 0.18 0.15 0.01 0.01 0.01 unch 0.00 0.07 0.01 0.04 0.04 0.04 - 0.00 0.12 0.03 0.05 0.05 0.05 unch 0.00 0.16 0.05 0.04 0.04 0.04 unch 0.00 0.38 0.04 0.14 0.13 0.13 - 0.04 0.30 0.07 0.05 0.00 0.03 - 0.00 0.11 0.03 0.05 0.04 0.05 unch 0.00 0.14 0.04 0.03 0.02 0.02 - 0.01 0.05 0.01 0.15 0.13 0.13 - 0.00 0.25 0.10 0.19 0.17 0.17 - 0.02 0.32 0.13 0.16 0.13 0.14 - 0.02 0.33 0.00 0.90 0.82 0.82 - 0.10 1.35 0.82 1.15 1.05 1.09 - 0.06 1.60 1.02 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.00 0.00 0.00 + 0.00 0.00 0.00 3.19 2.91 3.01 + 0.03 6.30 2.73 2.37 2.16 2.27 - 0.00 2.87 0.22 0.05 0.04 0.04 - 0.01 0.37 0.04 0.00 0.00 0.00 - 0.00 0.00 0.00 0.07 0.06 0.07 - 0.01 0.17 0.05 0.06 0.05 0.05 - 0.01 0.14 0.04 0.10 0.00 0.09 - 0.01 0.12 0.06

B

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Bravo Multinat* O 122 22394 Brazil Mnrls* O Brigadier Gold V 428 BrightRock Gld* O 131 O 75 Britannia Mng* Brixton Mtls V 415 Brixton Mtls* O 132 Broadway Gold* O 26 Broadway Gold V 488 O 5921 Brookmount Exp* Bryn Res* O 4360 BTU Metals V 1736 V 26 Buccaneer Gold Buenaventura* N 6217 Buffalo Coal V 57 2 Buffalo Coal * O Bullfrog Gold* O 562 Bullion Gld Res V 213 Bullman Mnls V 25 Bunker Hill 91 BWR Explor V 366

0.62 0.36 0.62 + 0.02 2.70 0.02 0.00 0.00 0.00 - 0.00 0.01 0.00 0.10 0.06 0.09 + 0.03 0.26 0.05 0.00 0.00 0.00 + 0.00 0.01 0.00 0.00 0.00 0.00 + 0.00 0.01 0.00 0.16 0.15 0.15 - 0.01 0.49 0.14 0.12 0.11 0.11 - 0.01 0.39 0.10 0.06 0.05 0.05 - 0.02 0.41 0.02 0.08 0.07 0.07 - 0.01 0.51 0.06 0.02 0.01 0.02 + 0.01 0.04 0.00 0.07 0.03 0.06 + 0.01 0.07 0.00 0.11 0.09 0.09 - 0.02 0.14 0.04 0.03 0.03 0.03 unch 0.00 0.18 0.03 15.44 14.72 14.74 - 0.32 16.80 11.67 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.01 0.01 0.01 unch 0.00 0.01 0.00 0.05 0.04 0.04 - 0.01 0.15 0.04 0.20 0.14 0.20 + 0.05 0.47 0.11 0.06 0.06 0.06 unch 0.00 0.09 0.06 0.09 0.00 0.06 - 0.03 3.15 0.03 0.04 0.04 0.04 unch 0.00 0.09 0.03

Cabral Gold V 71 Cabral Gold* O 26 Cache Expl V 329 O 0 Cadence Min* Cadillac Vent V 20 Cairo Res V 3 Caledonia Mng T 2 Caledonia Mng* X 23 Calibre Mng V 176 Calibre Mng* O 9 California Gld V 320 California Go* O 52 Callinex Mines* O 181 Callinex Mines V 624 Cameco Corp* N 12253 Cameco Corp T 5685 O 39 Cameo Cobalt* Cameo Cobalt V 519 Camino Mnls* O 70 Camino Mnls V 208 Camrova Res V 216 O 32 Camrova Res* Canada Coal V 33 Canada Coal* O 38 Canada Cobalt * O 193 Canada Cobalt V 1183 Canada One V 29 Canada One* O 1 O 8 Canadian Prem* Canadian Prem V 7 CanAlaska Uran* O 110 CanAlaska Uran V 139 CanAm Coal* O 30549 Canamex Gold 60 Canamex Gold* O 91 Canarc Res T 235 Canarc Res* O 263 Canasil Res V 74 Candelaria Mg* O 0 Candelaria Mg V 3 Candente Coppr T 238 O 5 Candente Gold* Candente Gold V 529 Canex Energy V 88 CANEX Metals V 1488 CaNickel Mng* O 10 CaNickel Mng V 6 Canstar Res V 78 Canstar Res* O 0 Canterra Mnls V 32 Cantex Mn Dev V 220 Cantex Mn Dev* O 24 Canuc Res V 248 Canuc Res* O 26 Capstone Mng T 2763 Caracara Silvr* O 2 Cardero Res V 149 Cardero Res* O 3 Cardinal Res T 27 Cariboo Rose V 396 Carlin Gold V 152 Carrara Explor 3002 Cartier Iron 138 Cartier Res V 678 Carube Copper V 217 Carube Copper* O 10 Casa Minerals V 284 Cascadero Copp V 786 Cassius Vents V 25 Castle Peak Mg V 60 Cautivo Mining 7 Cda Carbon* O 218 Cda Carbon V 1222 222 Cda Rare Earth V Cda Rare Earth* O 27 Cdn Metals* O 25 Cdn Metals 105 Cdn Orebodies V 237 CellCube Enrgy 5304 CellCube Enrgy* O 734 Centamin T 44 Centaurus Diam* O 15 Centenera Mng* O 309 Centenera Mng V 887 Centerra Gold T 2753 Central Iron V 5 Central Tim Ex V 195 Centurion Mnls V 1136 Century Cobalt* O 110 Century Global* O 38 Century Global T 28 5 Cerro de Pasc * O Cerro de Pasc 425 Cerro Grande* O 90 Cerro Grande 971 Cerro Mng* O 0 Cerro Mng V 6 Ceylon Graph V 56 Chakana Copper V 182 Chakana Copper* O 85 Chalice Gold M* O 107 Chalice Gold M T 14 V 17 Champion Bear Champion Bear* O 22 Champion Iron T 950 O 0 Champion Iron* Chantrell Vent V 59 Chatham Rock V 16 Chesapeake Gld* O 44 Chesapeake Gld V 39 Chevron Corp* N 34660 Chiboug Ind Mn V 23 Chiboug Ind Mn* O 2 O 14 Chilean Metals* Chimata Gold 375 China Gold Int T 661 V 170 Chinapintza Mg Cicada Vents V 1 CIM Intl Grp 5 Cipher Res V 264 Clarmin Explor V 567 Clean Comm* O 33 Clean Comm V 483 Cleghorn Mnls V 16 Cleveland-Clif* N 50517 Cliffmont Res V 13 Clifton Mng* O 200 Cloud Peak En* N 3716 Clydesdale Res V 5 CMC Metals V 212 CMX Gold & Sil 1535 CNRP Mng 575 CNRP Mng* O 717 Cobalt 27 Cap V 1547 Cobalt Block V 88 Cobalt Block* O 41 Cobalt Pwr Grp* O 730 Cobalt Pwr Grp V 2058 Coeur Mng* N 13130 Colibri Res V 154 Colombia Crest V 11 Colombia Crest* O 9 Colonial Coal V 520

0.20 0.18 0.18 - 0.03 0.49 0.20 0.18 0.14 0.14 - 0.01 0.32 0.15 0.04 0.03 0.03 unch 0.00 0.09 0.03 1.69 0.00 1.69 unch 0.00 2.11 1.07 0.02 0.02 0.02 - 0.01 0.05 0.01 0.27 0.27 0.27 + 0.03 0.42 0.24 7.54 7.24 7.54 + 0.31 12.50 6.87 5.70 5.35 5.57 - 0.01 9.94 5.01 0.39 0.36 0.39 + 0.03 1.45 0.30 0.29 0.26 0.29 + 0.01 0.35 0.03 0.29 0.25 0.25 - 0.04 0.42 0.19 0.22 0.19 0.21 unch 0.00 0.34 0.15 0.07 0.06 0.07 + 0.00 0.37 0.06 0.10 0.08 0.09 + 0.01 0.45 0.08 12.24 11.34 11.96 + 0.45 12.78 8.34 16.34 15.16 15.96 + 0.68 16.70 10.50 0.05 0.04 0.05 + 0.00 0.99 0.04 0.08 0.06 0.06 - 0.02 0.45 0.07 0.08 0.08 0.08 - 0.00 0.34 0.07 0.11 0.09 0.11 + 0.02 0.45 0.09 0.08 0.00 0.07 unch 0.00 0.11 0.06 0.05 0.03 0.03 - 0.02 0.15 0.00 0.04 0.04 0.04 unch 0.00 0.12 0.03 0.04 0.03 0.03 unch 0.00 0.04 0.03 0.39 0.33 0.39 + 0.00 0.79 0.01 0.55 0.44 0.55 + 0.05 0.90 0.19 0.07 0.06 0.06 - 0.02 0.43 0.06 0.05 0.04 0.04 - 0.01 0.21 0.04 0.93 0.00 0.92 + 0.85 0.92 0.06 1.28 1.21 1.28 - 0.01 3.98 0.90 0.23 0.21 0.21 - 0.01 0.37 0.19 0.33 0.28 0.29 - 0.01 0.45 0.25 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.06 0.06 0.06 unch 0.00 0.17 0.05 0.04 0.03 0.03 - 0.01 0.22 0.03 0.05 0.04 0.05 unch 0.00 0.09 0.03 0.04 0.03 0.03 + 0.00 0.07 0.02 0.07 0.06 0.06 - 0.01 0.19 0.06 0.00 0.00 0.51 unch 0.00 0.71 0.06 0.46 0.46 0.46 unch 0.00 0.99 0.23 0.07 0.06 0.06 - 0.01 0.16 0.06 0.01 0.01 0.01 unch 0.00 0.04 0.00 0.02 0.02 0.02 - 0.01 0.05 0.02 0.12 0.12 0.12 - 0.02 0.40 0.12 0.06 0.00 0.04 - 0.02 0.08 0.04 0.07 0.07 0.07 unch 0.00 0.15 0.06 0.08 0.00 0.07 - 0.01 0.21 0.07 0.10 0.10 0.10 unch 0.00 0.40 0.08 0.06 0.06 0.06 unch 0.00 0.19 0.06 0.02 0.00 0.02 unch 0.00 0.05 0.02 0.74 0.00 0.70 + 0.03 1.10 0.15 0.55 0.48 0.53 + 0.02 0.77 0.01 0.07 0.06 0.06 - 0.02 0.32 0.06 0.06 0.05 0.06 + 0.00 0.24 0.05 0.62 0.50 0.50 - 0.10 1.62 0.48 0.11 0.10 0.11 - 0.00 0.14 0.06 0.08 0.08 0.08 + 0.01 0.19 0.07 0.06 0.05 0.05 - 0.02 0.17 0.05 0.40 0.35 0.40 + 0.02 0.63 0.35 0.04 0.03 0.04 + 0.01 0.06 0.02 0.02 0.02 0.02 + 0.01 0.04 0.02 0.07 0.06 0.07 + 0.01 0.17 0.03 0.11 0.10 0.10 unch 0.00 0.21 0.07 0.16 0.14 0.14 + 0.01 0.27 0.11 0.05 0.04 0.05 - 0.01 0.10 0.04 0.04 0.04 0.04 unch 0.00 0.07 0.03 0.19 0.17 0.17 - 0.02 0.24 0.07 0.04 0.03 0.03 unch 0.00 0.16 0.03 0.06 0.06 0.06 unch 0.00 0.08 0.03 0.02 0.02 0.02 + 0.01 0.03 0.01 0.17 0.15 0.17 + 0.02 0.61 0.08 0.13 0.10 0.11 + 0.02 0.13 0.04 0.17 0.14 0.15 + 0.02 0.18 0.04 0.06 0.04 0.05 unch 0.00 0.10 0.03 0.04 0.03 0.03 - 0.01 0.08 0.02 0.06 0.05 0.06 + 0.00 0.06 0.05 0.07 0.06 0.07 + 0.01 0.20 0.05 0.26 0.17 0.26 + 0.06 0.39 0.14 0.26 0.16 0.16 - 0.07 0.76 0.14 0.25 0.12 0.13 - 0.07 0.60 0.11 1.81 1.71 1.79 + 0.12 2.96 1.40 0.15 0.11 0.11 unch 0.00 0.20 0.04 0.04 0.00 0.04 unch 0.00 0.17 0.01 0.05 0.04 0.05 - 0.01 0.21 0.04 5.87 5.31 5.31 - 0.40 8.21 4.76 0.03 0.03 0.03 - 0.01 0.05 0.02 0.12 0.08 0.09 - 0.05 0.20 0.08 0.02 0.00 0.02 - 0.01 0.04 0.01 0.15 0.08 0.12 - 0.03 0.20 0.01 0.17 0.16 0.17 unch 0.00 0.24 0.13 0.17 0.17 0.17 unch 0.00 0.29 0.11 0.22 0.22 0.22 unch 0.00 0.25 0.16 0.33 0.26 0.32 unch 0.00 0.37 0.22 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.00 0.00 0.12 unch 0.00 0.13 0.12 0.17 0.17 0.17 - 0.01 0.22 0.14 0.15 0.00 0.15 - 0.02 0.24 0.14 0.40 0.30 0.30 - 0.04 1.05 0.25 0.29 0.22 0.22 - 0.03 0.79 0.19 0.10 0.08 0.08 - 0.02 0.15 0.09 0.11 0.00 0.11 + 0.01 0.19 0.10 0.25 0.22 0.25 unch 0.00 0.25 0.10 0.17 0.17 0.17 - 0.01 0.18 0.10 1.19 1.10 1.10 - 0.06 1.52 1.05 0.00 0.00 0.85 unch 0.00 1.18 0.84 0.05 0.05 0.05 - 0.02 0.12 0.05 0.19 0.19 0.19 - 0.01 0.36 0.14 1.49 1.30 1.40 + 0.02 2.94 1.29 1.94 1.79 1.88 + 0.04 3.65 1.73 117.72 111.67 113.83 - 1.66 133.88 107.54 0.05 0.05 0.05 + 0.01 0.08 0.05 0.00 0.00 0.04 unch 0.00 0.05 0.04 0.01 0.01 0.01 unch 0.00 0.12 0.01 0.07 0.00 0.06 - 0.02 0.15 0.05 1.78 1.65 1.78 + 0.01 3.19 1.59 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.00 0.00 0.01 unch 0.00 0.03 0.01 0.21 0.21 0.21 unch 0.00 0.35 0.18 0.08 0.06 0.08 + 0.01 0.17 0.05 0.16 0.15 0.16 + 0.01 0.50 0.10 0.02 0.02 0.02 unch 0.00 0.16 0.01 0.03 0.03 0.03 - 0.01 0.21 0.03 0.10 0.10 0.10 unch 0.00 0.14 0.06 9.10 7.94 8.01 - 0.92 13.10 6.30 0.18 0.00 0.17 - 0.02 0.90 0.15 0.07 0.05 0.06 - 0.00 0.10 0.05 0.83 0.69 0.70 - 0.03 5.70 0.69 0.03 0.03 0.03 unch 0.00 0.15 0.02 0.09 0.07 0.07 - 0.01 0.16 0.04 0.06 0.04 0.06 unch 0.00 0.12 0.04 0.58 0.45 0.48 + 0.05 2.02 0.34 0.44 0.33 0.38 + 0.04 1.58 0.21 4.40 3.68 3.98 - 0.32 14.00 3.75 0.13 0.11 0.11 - 0.03 0.40 0.03 0.10 0.08 0.10 - 0.01 0.32 0.03 0.02 0.01 0.01 + 0.01 0.29 0.01 0.02 0.01 0.01 unch 0.00 0.35 0.01 4.24 3.80 3.82 - 0.30 8.94 3.81 0.04 0.04 0.04 - 0.01 0.13 0.03 0.06 0.06 0.06 unch 0.00 0.40 0.06 0.04 0.04 0.04 unch 0.00 0.10 0.00 0.58 0.39 0.55 + 0.16 0.45 0.11

C

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Colorado Res V 357 O 49 Colorado Res* T 173 Columbus Gold O 195 Columbus Gold* V 995 Commander Res O 52 Commerce Res* V 74 Commerce Res V 146 Compass Gold O 78 Compliance Egy* X 3450 Comstock Mng* V 322 Comstock Mtls 73 Comstock Mtls * O Condor Gold* O 25 Condor Gold T 9 Condor Res V 309 Condor Res* O 225 O 10 Confedertn Ml* V 64 Confedertn Mls V 310 Conquest Res V 30 Cons Woodjam N CONSOL Coal Rs* N 11673 CONSOL Energy* N 2380 CONSOL Energy* O 89 Constantine Mt* V 64 Constantine Mt O 21 Contact Gold* Contact Gold V 96 O 16 Contact Mnrls* Contintl Gold T 561 Contintl Gold* O 30 Contintl Prec* O 1 Contintl Prec V 402 218 Copper Fox Mtl V 59 Copper Fox Mtl* O 763 Copper Lake Rs V 930 Copper Mtn Mng T 36 Copper Mtn Mng* O 0 Copper North M* O 419 Copper North M V Copper One V 740 25 Copper One * O Copper Reef Mg 3154 Copperbank Res 473 O 367 Copperbank Res* 12 Coral Gold * O Coral Gold V 95 Cordoba Mnls V 797 O 100 Cordoba Mnls* Core Gold V 589 Core Gold* O 124 Core Lithium* O 0 V 1547 Cornerstone Ca O 283 Cornerstone Ca* Coro Mining T 2517 Corsa Coal V 252 33 Corsa Coal * O Corvus Gold* O 81 Corvus Gold T 514 CR Capital V 79 0 Crazy Horse Res* O Crest Resource 150 Critical Elem V 451 Critical Elem* O 17 V 707 CROPS O 20 Crown Mining* Crown Mining V 134 Cruz Cobalt V 238 Cruz Cobalt* O 195 Crystal Lake V 52 Crystal Lake* O 25 Crystal Peak* O 121 Crystal Peak V 85 O 3 CTGX Mining* 22 Currie Rose Rs V 2 CWN M’g Acq V Cyntar Venture 50 Cypress Dev* O 87 Cypress Dev V 502

0.06 0.07 0.06 0.06 - 0.01 0.21 0.05 0.05 0.04 0.04 - 0.01 0.17 0.18 0.23 0.19 0.19 - 0.01 0.90 0.14 0.17 0.14 0.15 - 0.01 0.73 0.08 unch 0.00 0.25 0.09 0.09 0.09 0.04 0.05 0.05 0.05 - 0.00 0.07 0.06 0.07 0.06 0.06 - 0.01 0.09 0.16 0.25 0.22 0.25 + 0.03 0.74 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.12 0.16 0.13 0.16 - 0.00 0.49 0.03 0.03 0.03 0.03 + 0.01 0.10 0.03 0.01 0.01 - 0.00 0.07 0.01 0.30 unch 0.00 0.90 0.30 0.30 0.30 0.44 0.78 0.61 0.78 + 0.24 1.75 0.05 0.06 0.05 0.06 - 0.01 0.13 0.04 0.04 0.04 0.04 + 0.01 0.10 0.16 0.24 0.23 0.24 + 0.01 0.44 0.20 0.35 0.00 0.33 - 0.02 0.59 0.02 unch 0.00 0.07 0.03 0.02 0.02 0.03 unch 0.00 0.07 0.03 0.03 0.03 - 0.18 21.13 195 17.82 16.60 17.46 11.69 13.47 12.29 12.34 - 1.03 18.37 26.62 33.99 31.68 32.56 - 0.11 48.12 0.12 0.37 0.32 0.32 - 0.01 0.65 0.42 0.49 0.43 0.44 - 0.01 0.86 0.20 0.26 0.23 0.23 - 0.03 0.38 0.27 0.35 0.30 0.30 - 0.04 0.54 0.09 0.17 0.16 0.16 - 0.01 0.45 1.98 2.40 2.09 2.21 - 0.03 4.13 1.50 1.77 1.58 1.66 + 0.01 3.22 0.23 unch 0.00 0.34 0.25 0.25 0.25 0.30 0.35 0.35 0.35 + 0.01 0.46 0.10 0.09 0.09 unch 0.00 0.17 0.08 0.07 0.00 0.07 + 0.00 0.12 0.06 0.02 0.01 0.02 unch 0.00 0.10 0.01 0.79 0.71 0.72 - 0.06 1.65 0.70 0.59 0.54 0.54 - 0.05 1.29 0.53 0.02 0.00 0.02 unch 0.00 0.07 0.02 0.05 0.04 0.04 unch 0.00 0.10 0.04 0.10 0.17 0.14 0.17 + 0.01 0.22 0.10 0.09 0.09 unch 0.00 0.18 0.07 0.02 0.03 0.01 + 0.03 0.02 0.02 0.04 unch 0.00 0.12 0.05 0.04 0.05 0.03 0.04 0.03 0.04 + 0.00 0.10 0.26 0.00 0.26 - 0.00 0.35 0.16 0.32 unch 0.00 0.44 0.36 0.35 0.35 0.10 0.14 0.12 0.13 - 0.02 0.47 0.08 0.10 0.09 0.09 - 0.02 0.38 0.21 0.30 0.24 0.25 - 0.03 0.35 0.16 0.22 0.18 0.19 - 0.03 0.34 0.10 unch 0.00 0.99 0.00 0.00 0.40 0.14 unch 0.00 0.39 0.32 0.30 0.30 0.11 0.23 0.22 0.23 + 0.01 0.28 0.05 unch 0.00 0.16 0.06 0.05 0.05 0.61 0.70 0.61 0.68 + 0.06 2.30 0.51 0.00 0.51 + 0.04 2.25 0.45 1.10 2.20 1.92 1.94 - 0.13 2.72 1.40 2.95 2.55 2.56 - 0.20 3.39 0.02 0.05 0.04 0.04 - 0.01 0.15 0.00 0.00 0.08 unch 0.00 0.18 0.08 0.10 unch 0.00 0.15 0.10 0.10 0.10 0.65 0.84 0.78 0.80 - 0.04 1.86 0.51 0.62 0.58 0.58 - 0.04 1.44 0.03 unch 0.00 0.12 0.05 0.04 0.04 0.06 0.07 0.07 0.07 - 0.02 0.21 0.07 0.11 0.09 0.11 + 0.02 0.28 0.06 unch 0.00 0.41 0.07 0.07 0.07 0.04 unch 0.00 0.35 0.06 0.04 0.05 0.30 0.34 0.30 0.30 - 0.02 1.12 0.23 unch 0.00 0.84 0.24 0.23 0.23 0.14 0.17 0.16 0.17 + 0.01 0.46 0.19 0.24 0.21 0.21 - 0.02 0.58 0.10 0.10 0.00 0.10 - 0.15 0.25 0.07 0.06 0.07 + 0.01 0.20 0.05 0.05 0.05 0.05 unch 0.00 0.25 0.03 0.09 unch 0.00 0.15 0.11 0.10 0.10 0.13 0.16 0.00 0.13 - 0.03 0.34 0.16 0.21 0.17 0.18 - 0.03 0.43

Dajin Res V 272 Dajin Res* O 1341 Dakota Ter Res* O 100 Daleco Res* O 379 Danakali* O 115 Debut Dmds 1348 Decade Res V 922 Decade Res* O 1200 O 8 Declan Cobalt* Declan Cobalt 249 V 301 Deep-South Res DeepRock Min 27 O 159 Defiance Silvr* Defiance Silvr V 265 Delrand Res V 338 Delrey Metals 426 T 1361 Denison Mines X 2063 Denison Mines* Desert Gold* O 5 Desert Gold V 41 Desert Lion* O 32 Desert Lion V 2586 100 Desert Mtn Egy V 3 Desert Mtn Egy* O Detour Gold T 4523 O 145 Diamante Min* O 139 Diamcor Mng* Diamcor Mng V 154 O 1341 Diamond Disc* V 11 Diamond Fields O 4 Diamond Fields* Dios Expl V 76 O 709 Discovery Gold* V 5 Discovery Harb O 0 Discovery Met* V 532 Discovery Met O 4432 Discovery Mnls* V 38 Discovery-Corp District Cop V 1262 District Cop* O 42 Ditem Explor* O 3 O 23 Diversified Rs* DNI Metals 514 DNI Metals* O 271 O 58 Dolat Ventures* 11 Dolly Vard Sil* O 51 Dolly Vard Sil V O 6 Doubleview Cap* V 253 Doubleview Cap DRDGOLD* N 197 62 Duncan Park H V 844 Dundee Prec Mt T O 12 Dunnedin Vent* Durango Res V 322 Durango Res* O 60 DV Resources V 40 196 Dynacor Gld Mn T 8 Dynacor Gld Mn* O O 1 Dynamic Gold* O 0 DynaResource* Dynasty Gold V 67 O 39 Dynasty Gold* E3 Metals V 326 E3 Metals* O 3 V 47 Eagle Graphite O 0 Eagle Graphite* Eagle Plains V 161 191 V East Africa 39 East Africa * O 2 East Asia Mnls* O 242 East Asia Mnls V EastCoal Inc V 0 O 43 Eastern Platin* Eastern Platin T 60 Eastfield Res V 881 O 51 Eastmain Res* Eastmain Res T 974 30 Eco Oro Mnls 82 Eco Oro Mnls* O eCobalt Solns T 502 O 490 eCobalt Solns* V 44 Edgewater Expl O 25 Edgewater Expl* O 24 Edison Cobalt* Edison Cobalt V 669 El Capitan Prc* O 1058 134 El Nino Vent V

0.05 0.07 0.05 0.06 - 0.01 0.20 0.04 0.05 0.04 0.04 - 0.01 0.16 0.06 0.05 0.06 unch 0.00 0.10 0.03 0.00 0.00 0.00 0.00 - 0.00 0.00 0.44 0.56 0.51 0.55 - 0.02 0.69 0.01 unch 0.00 0.03 0.01 0.01 0.01 0.03 0.03 0.03 0.03 - 0.01 0.10 0.02 unch 0.00 0.07 0.02 0.02 0.02 0.15 0.16 0.15 0.15 - 0.00 0.30 0.18 0.22 0.17 0.17 - 0.03 0.42 0.06 0.12 0.10 0.10 - 0.02 0.45 0.06 0.10 0.00 0.10 + 0.04 0.10 0.15 0.17 0.15 0.16 + 0.00 0.35 0.19 0.23 0.20 0.20 - 0.02 0.44 0.26 unch 0.00 2.05 0.45 0.35 0.38 0.21 0.29 0.23 0.23 - 0.06 0.50 0.54 0.73 0.67 0.68 - 0.06 0.89 0.43 0.55 0.51 0.53 - 0.03 0.69 0.12 unch 0.00 0.22 0.13 0.13 0.13 0.14 0.18 0.17 0.18 + 0.01 0.30 0.05 0.05 0.05 0.05 - 0.01 1.07 0.05 0.08 0.05 0.06 - 0.01 2.35 0.21 0.20 0.20 + 0.01 0.27 0.06 0.16 0.16 0.16 - 0.00 0.20 0.01 11.12 9.97 10.02 - 0.32 15.40 9.11 0.02 0.08 0.06 0.08 - 0.00 0.24 0.17 0.27 0.21 0.21 - 0.03 0.46 0.24 0.35 0.28 0.30 - 0.03 0.58 0.00 0.00 0.00 0.00 - 0.00 0.00 0.07 unch 0.00 0.15 0.10 0.00 0.10 0.05 unch 0.00 0.09 0.08 0.00 0.08 0.05 0.06 0.05 0.06 + 0.01 0.19 0.00 0.00 0.00 0.00 + 0.00 0.01 0.05 unch 0.00 0.08 0.05 0.05 0.05 0.21 unch 0.00 0.40 0.00 0.00 0.21 0.17 0.20 0.17 0.20 + 0.02 0.54 0.00 0.00 0.00 0.00 - 0.00 0.00 0.01 unch 0.00 0.04 0.01 0.01 0.01 0.03 unch 0.00 0.21 0.05 0.04 0.04 0.02 0.03 0.02 0.03 + 0.01 0.16 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.01 0.02 0.02 0.02 - 0.00 0.14 0.04 0.05 0.04 0.05 - 0.01 0.15 0.03 0.05 0.03 0.04 - 0.01 0.12 0.15 0.38 0.25 0.28 - 0.02 5.40 0.31 0.00 0.30 - 0.00 0.84 0.22 0.43 0.39 0.40 unch 0.00 1.04 0.29 0.07 unch 0.00 0.09 0.08 0.08 0.08 0.06 0.10 0.10 0.10 + 0.01 0.13 1.76 2.15 1.91 2.07 - 0.05 3.38 0.01 0.00 0.01 unch 0.00 0.02 0.01 3.38 3.18 3.30 unch 0.00 3.78 2.56 0.08 unch 0.00 0.26 0.08 0.08 0.08 0.04 unch 0.00 0.10 0.07 0.06 0.07 0.04 0.06 0.05 0.05 - 0.00 0.08 0.08 unch 0.00 0.50 0.09 0.09 0.09 1.60 1.46 1.59 + 0.10 2.26 1.41 1.18 1.08 1.18 + 0.09 1.85 1.06 0.75 unch 0.00 3.00 1.99 1.99 1.99 0.78 unch 0.00 1.30 0.00 0.00 1.19 0.11 0.13 0.11 0.12 - 0.02 0.27 0.08 0.09 0.08 0.08 - 0.01 0.22 0.32 0.36 0.33 0.34 + 0.02 0.67 0.25 unch 0.00 0.48 0.26 0.26 0.26 0.10 unch 0.00 0.36 0.10 0.10 0.10 0.01 unch 0.00 0.18 0.00 0.00 0.09 0.08 0.09 0.08 0.09 + 0.01 0.29 0.17 0.16 0.17 - 0.01 0.36 0.14 0.13 0.13 0.13 unch 0.00 0.26 0.10 0.04 0.00 0.04 unch 0.00 0.08 0.02 0.07 0.06 0.07 unch 0.00 0.12 0.03 0.10 unch 0.00 0.30 0.00 0.00 0.11 0.12 0.13 0.13 0.13 + 0.00 0.37 0.17 0.19 0.17 0.17 - 0.01 0.50 0.03 unch 0.00 0.06 0.04 0.03 0.03 0.11 0.17 0.14 0.15 - 0.02 0.29 0.14 0.23 0.20 0.21 - 0.02 0.36 0.18 0.18 0.18 unch 0.00 0.45 0.15 0.13 0.00 0.13 - 0.00 0.34 0.00 0.54 0.70 0.63 0.63 - 0.07 2.10 0.41 0.53 0.47 0.48 - 0.05 1.74 0.10 unch 0.00 0.18 0.10 0.10 0.10 0.07 unch 0.00 0.12 0.07 0.07 0.07 0.04 0.05 0.04 0.05 + 0.01 0.24 0.06 unch 0.00 0.36 0.08 0.00 0.06 0.02 0.01 0.01 - 0.00 0.05 0.01 0.03 0.08 0.01 - 0.03 0.03 0.03

D-F

2018-12-17 1:25 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / DECEMBER 24, 2018–JANUARY 6, 2019

Week

12-month

Exc Volume High Low Last Change High Low

Elcora Adv Mat V 364 Elcora Res* O 57 Eldorado Gold* N 17542 Eldorado Gold T 5720 Eloro Res V 26 Ely Gold Royal V 264 Ely Gold Royal* O 121 Elysee Dev V 66 Elysee Dev * O 12 Emerita Res V 2139 Emgold Mng V 254 Emgold Mng* O 5 Empire Metals V 5 EMX Royalty* X 556 EMX Royalty V 28 Encanto Potash* O 0 V 119 Encanto Potash EnCore Energy V 430 Endeavour Mng T 1405 Endeavour Mng* O 69 Endeavr Silver* N 5037 T 3220 Endeavr Silver Endurance Gold V 74 Energy Fuels* X 5141 Energy Fuels T 1634 Enforcer Gold V 455 Engineer Gold V 172 Engold Mines V 344 Engold Mines* O 50 Ensurge* O 50 Entree Res* X 295 Entree Res T 1193 O 4 ePower Metals* ePower Metals V 324 Equinox Gold V 1791 Equitorial Ex V 771 Equitorial Ex* O 100 245 Erdene Res Dev T Erdene Res Dev* O 3 Erin Ventures* O 8 Erin Ventures V 387 Ero Copper T 1683 Ero Copper* O 22 Eros Res Corp* O 35 Eros Res Corp V 80 Eros Res Corp V 80 Eskay Mng V 299 V 361 Essex Minerals Ethos Gold* O 121 Ethos Gold V 521 V 968 Euro Manganese Euro Sun Mg T 295 76 Euro Sun Mg* O EurOmax Res* O 11 EurOmax Res T 587 European Elect* O 1129 European Elect V 487 O 880 European Metal* Eurotin V 131 Everton Res V 239 Everton Res* O 9 Evrim Res V 2052 Excellon Res T 236 Excellon Res* O 121 Excelsior Mng* O 122 T 391 Excelsior Mng ExGen Res Inc V 1117 ExGen Res Inc* O 10 Explor Res* O 141 Explor Res V 1096 O 100 Explorex Res* Explorex Res 230 Fabled Copper V 17 Falco Res V 878 Falco Res * O 17 Falcon Gold V 207 Fancamp Expl V 140 Far Res 629 Far Res* O 138 Fengro Industr V 2682 Filo Mg Corp V 33 Finlay Minrls V 96 Fiore Gold* O 295 Fiore Gold V 615 Fire River Gol* O 2 Firebird Res V 10 Firestone Vent V 272 Fireweed Zinc V 187 Fireweed Zinc* O 7 Firma Holdings* O 21 First Bauxite V 68 First Cobalt * O 660 First Cobalt V 2156 First Colombia* O 11682 First Energy* O 2 First Energy V 3 First Majestic* N 10825 First Majestic T 2840 First Mexican V 125 First Mg Fin * O 2709 First Mg Fin T 2633 First Point* O 75 First Quantum T 16092 First Vanadium V 419 First Vanadium* O 191 Fission 3.0 V 608 Fission 3.0* O 140 Fission Uran* O 1029 Fission Uran T 2497 Five Star Diam V 182 Five Star Diam* O 50 Fjordland Exp* O 12 Fjordland Exp V 184 Focus Graphite* O 2795 Focus Graphite V 4254 Foran Mng V 170 Forsys Metals T 445 Fort St J Nick V 3 0 Fort St James* O Fortescue Met* O 74 Fortuna Silvr T 1935 Fortuna Silvr* N 3535 Fortune Bay V 2 Fortune Bay* O 6 Fortune Mnrls* O 323 Fortune Mnrls T 1709 Forum Energy V 177 Forum Energy* O 3 Four Nines 85 Fox River Res 107 Fox River Res* O 8 FPX Nickel V 353 Franco-Nevada* N 2724 Franco-Nevada T 2985 Franklin Mng* O 249 Freedom Egy V 5 Freegold Vent T 365 Freeport McMoR* N 96127 Freeport Res V 19 Fremont Gold V 961 Fremont Gold* O 75 Fresnillo plc* O 7 Frontier Lith V 101 Frontline Gold V 2823 Full Metal Mnl* O 0 Fura Gems V 719 Fura Gems* O 139 Fusion Gold V 40

0.11 0.09 0.11 + 0.02 0.47 0.06 0.10 0.06 0.10 + 0.02 0.39 0.05 0.63 0.57 0.58 - 0.03 1.47 0.55 0.85 0.77 0.78 - 0.05 1.85 0.73 0.51 0.44 0.44 - 0.07 1.27 0.33 0.13 0.00 0.12 - 0.01 0.17 0.09 0.10 0.08 0.09 - 0.00 0.13 0.07 0.33 0.31 0.32 - 0.03 0.40 0.28 0.24 0.23 0.23 - 0.00 0.32 0.20 0.03 0.02 0.03 + 0.01 0.14 0.02 0.10 0.00 0.10 + 0.04 0.22 0.05 0.05 0.03 0.03 - 0.02 0.18 0.03 0.16 0.16 0.16 unch 0.00 0.25 0.11 1.15 1.07 1.07 - 0.06 1.47 0.72 1.57 1.44 1.45 - 0.04 1.80 0.92 0.00 0.00 0.12 unch 0.00 0.22 0.02 0.17 0.14 0.15 - 0.02 0.70 0.14 0.12 0.11 0.12 + 0.01 0.14 0.05 18.25 16.73 18.19 + 0.92 26.86 16.34 13.61 12.63 13.57 + 0.66 21.72 12.38 2.13 1.89 2.01 + 0.04 3.35 1.76 2.83 2.53 2.69 + 0.07 4.40 2.27 0.04 0.04 0.04 + 0.01 0.09 0.03 3.77 3.35 3.50 + 0.09 4.09 1.49 5.04 4.48 4.68 + 0.15 5.38 1.82 0.08 0.07 0.07 + 0.01 0.30 0.07 0.08 0.08 0.08 + 0.01 0.12 0.07 0.13 0.10 0.10 - 0.02 0.28 0.09 0.09 0.09 0.09 unch 0.00 0.21 0.08 0.03 0.03 0.03 unch 0.00 0.09 0.02 0.41 0.37 0.40 + 0.01 0.69 0.33 0.55 0.49 0.54 + 0.03 0.85 0.42 0.16 0.00 0.16 - 0.01 0.50 0.12 0.23 0.21 0.21 - 0.04 0.70 0.14 0.97 0.89 0.94 + 0.01 1.39 0.85 0.04 0.04 0.04 - 0.01 0.12 0.02 0.02 0.02 0.02 unch 0.00 0.08 0.02 0.24 0.22 0.23 unch 0.00 0.60 0.21 0.18 0.17 0.17 - 0.01 0.49 0.16 0.00 0.00 0.11 unch 0.00 0.23 0.08 0.18 0.13 0.16 + 0.02 0.33 0.09 11.34 9.50 10.18 + 0.08 12.35 6.53 8.45 7.17 7.63 + 0.47 9.17 5.75 0.05 0.00 0.05 + 0.00 0.16 0.05 0.07 0.07 0.07 unch 0.00 0.21 0.07 0.07 0.07 0.07 unch 0.00 0.21 0.07 0.12 0.08 0.08 - 0.03 0.38 0.08 0.07 0.04 0.05 - 0.01 0.20 0.06 0.18 0.15 0.15 - 0.02 0.23 0.09 0.26 0.20 0.22 unch 0.00 0.30 0.12 0.22 0.19 0.19 - 0.02 0.25 0.15 0.58 0.50 0.50 - 0.06 1.82 0.50 0.43 0.37 0.37 - 0.07 1.40 0.39 0.08 0.08 0.08 unch 0.00 0.24 0.01 0.11 0.07 0.08 - 0.04 0.31 0.02 0.12 0.10 0.11 - 0.00 0.79 0.09 0.15 0.13 0.14 - 0.02 0.93 0.12 0.00 0.00 0.00 + 0.00 0.01 0.00 0.05 0.03 0.05 + 0.01 0.13 0.01 0.04 0.03 0.04 + 0.01 0.06 0.02 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.33 0.27 0.32 - 0.01 1.70 0.22 0.69 0.64 0.64 - 0.03 2.15 0.63 0.52 0.48 0.48 - 0.02 1.72 0.48 0.71 0.65 0.65 - 0.04 1.21 0.62 0.94 0.86 0.88 - 0.04 1.50 0.82 0.03 0.02 0.02 - 0.01 0.03 0.01 0.02 0.02 0.02 unch 0.00 0.02 0.01 0.02 0.00 0.02 + 0.00 0.06 0.01 0.02 0.02 0.02 unch 0.00 0.07 0.02 0.24 0.24 0.24 unch 0.00 0.31 0.19 0.36 0.25 0.36 - 0.02 0.45 0.23 0.09 0.09 0.09 unch 0.00 0.09 0.04 0.34 0.30 0.31 - 0.03 1.13 0.29 0.25 0.24 0.24 - 0.01 0.89 0.18 0.04 0.00 0.04 + 0.01 0.08 0.03 0.06 0.05 0.05 - 0.01 0.18 0.05 0.07 0.07 0.07 - 0.01 1.10 0.07 0.06 0.04 0.04 - 0.01 0.88 0.05 0.05 0.00 0.05 unch 0.00 0.26 0.05 2.21 2.20 2.20 unch 0.00 2.75 2.00 0.03 0.00 0.03 unch 0.00 0.11 0.02 0.32 0.24 0.25 - 0.05 0.95 0.16 0.43 0.32 0.34 - 0.08 1.18 0.21 0.00 0.00 0.00 unch 0.00 2.41 0.00 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.07 0.06 0.06 - 0.01 0.19 0.05 0.83 0.76 0.80 + 0.01 2.14 0.74 0.59 0.56 0.58 - 0.01 1.67 0.56 0.02 0.02 0.02 + 0.01 0.12 0.01 0.04 0.04 0.04 unch 0.00 0.06 0.02 0.17 0.14 0.14 - 0.03 1.29 0.14 0.22 0.19 0.19 - 0.03 1.58 0.19 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.18 0.18 0.18 unch 0.00 0.32 0.10 0.20 0.00 0.20 - 0.03 0.43 0.10 5.40 4.99 5.15 + 0.01 8.48 4.59 7.24 6.68 6.88 + 0.04 11.09 6.12 0.02 0.02 0.02 unch 0.00 0.07 0.01 0.21 0.17 0.18 - 0.02 0.51 0.17 0.27 0.23 0.24 - 0.03 0.64 0.24 0.09 0.08 0.08 + 0.01 0.13 0.06 13.24 11.36 11.70 - 0.39 23.05 10.55 0.98 0.83 0.90 + 0.03 1.96 0.22 0.72 0.63 0.68 + 0.01 1.60 0.18 0.20 0.17 0.17 - 0.04 0.30 0.08 0.15 0.00 0.13 - 0.02 0.22 0.02 0.46 0.43 0.44 - 0.00 0.72 0.42 0.62 0.57 0.59 unch 0.00 0.89 0.57 0.06 0.05 0.06 - 0.01 0.25 0.05 0.04 0.04 0.04 unch 0.00 0.11 0.04 0.10 0.08 0.08 unch 0.00 0.25 0.06 0.10 0.10 0.10 unch 0.00 0.33 0.09 0.04 0.02 0.03 - 0.01 0.07 0.01 0.05 0.04 0.04 - 0.01 0.10 0.02 0.32 0.30 0.31 unch 0.00 0.62 0.23 0.26 0.21 0.25 + 0.01 0.32 0.09 0.25 0.00 0.25 + 0.01 0.59 0.15 0.00 0.00 0.06 unch 0.00 3.05 0.00 2.97 + 0.13 4.30 2.53 4.53 4.30 4.42 + 0.03 7.78 4.22 3.39 3.20 3.31 unch 0.00 6.08 3.16 0.00 0.00 0.21 unch 0.00 0.47 0.21 0.16 0.00 0.14 - 0.01 0.36 0.10 0.08 0.06 0.07 - 0.01 0.33 0.00 0.11 0.09 0.09 - 0.01 0.38 0.09 0.05 0.00 0.05 unch 0.00 0.09 0.04 0.04 0.03 0.03 - 0.01 0.07 0.03 0.26 0.25 0.25 unch 0.00 0.80 0.10 0.06 0.00 0.06 unch 0.00 0.15 0.05 0.04 0.04 0.04 unch 0.00 0.05 0.04 0.13 0.10 0.13 + 0.01 0.18 0.08 73.44 70.57 71.98 - 0.23 80.79 58.26 98.33 94.54 96.22 + 0.14 101.48 76.53 0.00 0.00 0.00 + 0.00 0.00 0.00 0.03 0.03 0.03 - 0.01 0.10 0.02 0.07 0.06 0.07 + 0.01 0.13 0.06 11.37 10.39 10.57 - 0.35 20.25 10.45 0.09 0.00 0.09 unch 0.00 0.10 0.04 0.16 0.14 0.15 + 0.01 0.22 0.09 0.11 0.11 0.11 unch 0.00 0.17 0.07 10.64 10.20 10.49 - 0.01 19.93 9.35 0.37 0.33 0.36 + 0.03 0.85 0.30 0.02 0.01 0.01 - 0.01 0.03 0.01 0.00 0.00 0.00 unch 0.00 0.12 0.00 0.36 0.31 0.33 + 0.01 1.13 0.30 0.26 0.23 0.24 - 0.01 1.23 0.23 0.15 0.14 0.14 - 0.01 0.30 0.14

Gabriel Res V 284 Gabriel Res* O 32 Gainey Capital V 626 Galane Gold * O 278 Galane Gold V 829 Galantas Gold V 70 Galantas Gold* O 25 Galore Res V 81 Galway Gold * O 3 Galway Gold V 215 Galway Mtls* O 3 Galway Mtls V 290 GAR Limited 2983 Garibaldi Res V 477 Garibaldi Res * O 45 Gatling Explor V 1574 Gatling Explor* O 40 General Moly T 22 General Moly* X 987 Generation Min* O 1 Generation Min 29 Generic Gold 45 Genesis Mtls* O 146

0.33 0.00 0.29 - 0.04 0.45 0.29 0.25 0.22 0.22 - 0.03 0.34 0.22 0.06 0.05 0.05 - 0.01 0.15 0.04 0.04 0.03 0.04 - 0.00 0.06 0.03 0.05 0.04 0.05 unch 0.00 0.07 0.04 0.11 0.10 0.10 - 0.01 0.15 0.08 0.09 0.09 0.09 unch 0.00 0.10 0.06 0.05 0.04 0.05 unch 0.00 0.06 0.01 0.08 0.08 0.08 unch 0.00 0.12 0.07 0.12 0.11 0.11 unch 0.00 0.64 0.10 0.15 0.15 0.15 unch 0.00 0.30 0.10 0.19 0.19 0.19 unch 0.00 0.39 0.13 0.11 0.11 0.11 - 0.01 0.65 0.07 1.18 1.06 1.10 + 0.02 3.60 0.98 0.86 0.80 0.83 + 0.00 2.82 0.73 0.46 0.29 0.37 + 0.06 0.58 0.13 0.30 0.26 0.27 - 0.01 0.30 0.27 0.24 0.22 0.24 + 0.02 0.63 0.22 0.18 0.17 0.18 + 0.01 0.46 0.16 0.08 0.08 0.08 unch 0.00 0.11 0.03 0.11 0.00 0.10 - 0.01 0.20 0.08 0.06 0.04 0.06 + 0.02 0.32 0.04 0.06 0.05 0.05 + 0.00 0.12 0.04

G-H

20-23_DEC24_StockTables.indd 21

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Genesis Mtls V 317 Genius Metals 104 Gensource Pot V 1007 Geomega Res V 231 Geomega Res* O 33 Gespeg Cop Res V 1693 Getchell Gold 434 Getty Copper V 76 V 1928 GFG Resources GFG Resources* O 157 GGL Res* O 0 GGL Res V 160 GGX Gold V 1009 Giga Metals* O 230 Giga Metals V 284 Gitennes Expl V 313 Giyani Gold* O 48 Giyani Gold V 898 Glacier Lake V 1360 Gldn Predator V 569 Gldn Predator* O 184 Glen Eagle Res V 129 Glencore Plc* O 1505 V 286 Global Atomic Global Atomic* O 50 Global Cobalt* O 50 Global Energy V 265 Global Energy* O 5 Global Gold* O 1 O 1 Global Hunter* Global Li-Ion 156 Global Li-Ion* O 37 Global Vanad V 45 Global Vanad* O 20 GlobalMin Vent* O 3 Globex Mng* O 48 Globex Mng T 293 GMV Minerals V 59 GMV Minerals* O 90 GNCC Capital* O 120 Go Cobalt 40 GobiMin V 13 GoGold Res T 458 Gold Dynamics* O 10 Gold Fields* O 3 Gold Fields* N 19336 Gold Finder Ex V 1450 12 Gold Finder Ex* O Gold Lakes* O 4 Gold Reserve V 30 Gold Reserve* O 65 Gold Resource* X 2103 Gold Rush Cari V 1781 Gold Std Vents T 242 Gold Std Vents* X 1194 Goldbank Mng V 7 Goldcliff Res* O 23 Goldcliff Res V 45 Goldcorp T 18258 Goldcorp* N 45285 Golden Arrow V 238 Golden Arrow* O 312 Golden Band* O 118 Golden Cariboo V 4 944 Golden Dawn Ml V Golden Dawn Ml* O 9 Golden Goliath V 789 O 250 Golden Goliath* Golden Harp V 15 Golden Hope V 278 Golden Hope* O 160 Golden Mnls* X 590 Golden Mnls T 36 Golden Peak Mn V 115 Golden Peak Mn* O 36 Golden Pursuit* O 0 Golden Pursuit V 6 Golden Queen T 341 Golden Queen* O 939 Golden Ridge V 2236 Golden Secret V 119 Golden Share V 35 Golden Star T 162 Golden Star* X 960 Golden Sun* O 50 Golden Tag V 205 O 207 Golden Valley* Golden Valley V 185 Goldex Res* O 28 Goldex Res V 1408 Goldgroup Mng T 128 Goldgroup Mng* O 82 GoldMining* O 705 GoldMining T 1474 GoldON Res V 505 Goldplay Expl* O 70 Goldplay Expl V 125 GoldQuest Mng V 258 Goldrea Res 32 Goldrea Res* O 46 Goldrich Mng* O 97 Goldsource Min* O 44 V 225 Goldsource Min Goldstar Mnls V 345 V 116 Goldstream Mnl Goldstrike Res V 462 GoldTrain Res 640 Goliath Res* O 128 Goliath Res V 784 Gossan Res V 97 GoviEx Uranium* O 623 GoviEx Uranium V 2058 Gowest Gold* O 236 Gowest Gold V 2388 GPM Metals* O 13 GPM Metals V 504 Gran Colombia* O 152 Gran Colombia T 320 Granada Gold V 84 Granada Gold* O 19 Grande Portage V 445 Grande Portage* O 308 Graphite Egy 32 Graphite Egy* O 191 Graphite One* O 1387 Graphite One V 1643 Gratomic* O 117 Gratomic V 10923 Gray Rock Res V 52 Great Atlantic V 1287 Great Bear Res V 997 Great Bear Res* O 97 Great Lakes Gr* O 827 Great Lakes Gr V 320 Great Panther T 323 Great Panther* X 2000 Great Thunder V 1799 Great Western* O 286 Greatbanks Res* O 1 Green Arrow V 93 Green River 77 Green Swan Cap V 120 Green Valley M V 47 Greencastle Rs V 74 O 411 Greenland M&En* Greenshield Ex V 5 Grenville Gold 1 Grid Metals V 263 Grid Metals* O 114 Grizzly Discvr* O 854 Grizzly Discvr V 510 Grosvenor Res V 8 Group Eleven V 49 Group Ten Mtls* O 88 Group Ten Mtls V 75 GrowMax Res* O 7 GrowMax Res V 589 GSP Resource V 67 GT Gold V 3046 GT Gold * O 127 GTA Res & Mng V 127 Guerrero Vents V 2 Gungnir Res V 146 Gungnir Res* O 37 Gunpoint Expl V 11 Guyana Gldflds T 3046 Guyana Goldstr V 337 Guyana Goldstr* O 1 Handa Mining V 45 Handa Mining* O 47 Handeni Gold* O 1 Hannan Metals V 59 Hannan Metals* O 52 Happy Ck Mnrls V 27

0.08 0.07 0.07 + 0.01 0.15 0.05 0.20 0.00 0.20 + 0.01 0.25 0.12 0.11 0.09 0.11 unch 0.00 0.16 0.07 0.08 0.08 0.08 unch 0.00 0.20 0.06 0.07 0.05 0.05 unch 0.00 0.12 0.05 0.04 0.04 0.04 unch 0.00 0.05 0.02 0.23 0.17 0.23 + 0.04 0.60 0.17 0.03 0.02 0.02 - 0.01 0.07 0.02 0.24 0.19 0.19 - 0.02 0.54 0.17 0.17 0.15 0.15 - 0.01 0.44 0.14 0.00 0.00 0.05 unch 0.00 0.13 0.05 0.07 0.07 0.07 unch 0.00 0.18 0.07 0.06 0.05 0.06 unch 0.00 0.16 0.05 0.15 0.12 0.15 - 0.00 0.64 0.12 0.19 0.16 0.19 unch 0.00 0.81 0.15 0.03 0.03 0.03 unch 0.00 0.10 0.03 0.11 0.08 0.11 + 0.01 0.31 0.07 0.14 0.10 0.10 - 0.02 0.40 0.10 0.02 0.02 0.02 unch 0.00 0.11 0.02 0.27 0.23 0.26 + 0.01 0.87 0.20 0.20 0.17 0.20 + 0.02 0.74 0.15 0.13 0.12 0.12 - 0.01 0.25 0.11 7.47 6.80 7.15 + 0.15 11.68 6.80 0.33 0.00 0.33 + 0.03 0.45 0.20 0.25 0.24 0.24 - 0.00 0.31 0.16 0.00 0.00 0.00 unch 0.00 0.43 0.00 0.06 0.00 0.06 - 0.01 0.27 0.05 0.05 0.05 0.05 unch 0.00 0.22 0.04 1.50 1.50 1.50 unch 0.00 4.77 1.50 0.01 0.00 0.01 + 0.00 0.10 0.00 0.09 0.07 0.07 - 0.01 0.69 0.07 0.06 0.05 0.05 - 0.01 0.54 0.05 0.26 0.19 0.26 + 0.01 0.28 0.19 0.17 0.17 0.17 unch 0.00 0.17 0.16 0.99 0.00 0.99 unch 0.00 140.00 0.55 0.24 0.00 0.23 - 0.00 0.40 0.19 0.33 0.28 0.32 + 0.03 0.51 0.25 0.11 0.09 0.11 + 0.01 0.35 0.07 0.09 0.08 0.09 + 0.01 0.25 0.07 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.30 0.22 0.30 + 0.05 0.38 0.07 0.30 0.28 0.30 + 0.02 0.44 0.28 0.21 0.19 0.20 - 0.01 0.53 0.19 0.00 0.00 0.00 + 0.00 0.01 0.00 0.00 0.00 2.97 unch 0.00 4.25 2.40 3.29 3.00 3.22 + 0.05 4.54 2.20 0.09 0.06 0.08 + 0.02 1.85 0.06 0.04 0.04 0.04 unch 0.00 1.33 0.04 0.04 0.00 0.02 - 0.02 0.10 0.02 3.07 2.74 2.75 - 0.10 4.25 2.50 2.30 2.02 2.15 - 0.20 3.51 1.84 4.02 3.83 3.96 + 0.07 7.33 3.61 0.11 0.00 0.08 - 0.02 0.35 0.09 1.68 1.57 1.67 - 0.04 2.46 1.46 1.29 1.17 1.24 - 0.02 2.01 1.09 0.11 0.00 0.10 - 0.01 0.21 0.10 0.06 0.04 0.04 - 0.01 0.19 0.04 0.07 0.06 0.06 - 0.03 0.23 0.06 13.28 12.18 12.21 - 0.31 19.32 11.00 9.92 9.09 9.14 - 0.29 15.55 8.42 0.27 0.24 0.26 + 0.03 0.72 0.22 0.20 0.17 0.20 + 0.02 0.58 0.17 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.03 0.00 0.03 unch 0.00 0.12 0.03 0.03 0.02 0.03 + 0.01 0.59 0.02 0.02 0.02 0.02 + 0.00 0.31 0.02 0.03 0.02 0.02 - 0.01 0.06 0.02 0.01 0.01 0.01 - 0.00 0.05 0.00 0.17 0.17 0.17 unch 0.00 0.20 0.01 0.08 0.00 0.07 + 0.01 0.11 0.06 0.06 0.05 0.06 + 0.01 0.09 0.04 0.26 0.24 0.24 - 0.00 0.48 0.19 0.34 0.31 0.33 unch 0.00 0.60 0.26 0.20 0.19 0.19 unch 0.00 0.56 0.16 0.16 0.14 0.15 + 0.01 0.41 0.14 0.00 0.00 0.06 unch 0.00 0.16 0.06 0.10 0.00 0.10 unch 0.00 0.21 0.08 0.12 0.10 0.10 - 0.02 0.24 0.10 0.09 0.07 0.08 - 0.00 0.19 0.07 0.10 0.08 0.10 + 0.01 0.54 0.08 1.97 1.70 1.75 - 0.22 5.00 1.70 0.18 0.16 0.16 - 0.03 0.30 0.09 4.10 3.89 3.90 - 0.16 5.70 3.24 3.09 2.93 2.98 - 0.08 4.60 2.43 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.06 0.05 0.05 - 0.01 0.08 0.03 0.19 0.18 0.18 - 0.01 0.25 0.16 0.24 0.23 0.24 + 0.01 0.30 0.22 0.25 0.11 0.11 - 0.02 1.96 0.13 0.39 0.14 0.15 - 0.04 2.56 0.15 0.06 0.05 0.05 + 0.01 0.09 0.05 0.04 0.03 0.03 + 0.00 0.07 0.03 0.62 0.55 0.56 - 0.06 1.21 0.55 0.82 0.73 0.74 - 0.08 1.54 0.73 0.15 0.12 0.14 unch 0.00 0.20 0.12 0.17 0.16 0.16 - 0.00 0.20 0.16 0.22 0.19 0.19 - 0.03 0.32 0.16 0.11 0.10 0.10 - 0.01 0.46 0.09 0.05 0.04 0.04 - 0.01 0.38 0.04 0.04 0.03 0.03 - 0.01 0.30 0.03 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.04 0.03 0.04 - 0.01 0.10 0.03 0.05 0.05 0.05 unch 0.00 0.12 0.04 0.04 0.03 0.03 - 0.01 0.12 0.03 0.05 0.05 0.05 unch 0.00 0.18 0.04 0.11 0.08 0.09 - 0.01 0.25 0.07 0.13 0.11 0.11 unch 0.00 0.40 0.11 0.08 0.06 0.07 + 0.01 0.21 0.06 0.10 0.08 0.08 - 0.02 0.33 0.07 0.08 0.06 0.08 unch 0.00 0.12 0.05 0.14 0.13 0.13 - 0.01 0.25 0.13 0.19 0.18 0.18 - 0.01 0.31 0.17 0.03 0.02 0.03 + 0.00 0.14 0.02 0.04 0.03 0.03 unch 0.00 0.20 0.03 0.00 0.00 0.02 unch 0.00 0.06 0.02 0.04 0.04 0.04 unch 0.00 0.08 0.04 2.17 2.04 2.08 unch 0.00 2.62 1.44 2.91 2.72 2.79 + 0.01 3.45 1.85 0.15 0.14 0.14 - 0.01 0.42 0.12 0.11 0.10 0.10 - 0.01 0.33 0.10 0.13 0.10 0.13 - 0.01 0.34 0.10 0.10 0.07 0.09 - 0.01 0.25 0.08 0.06 0.04 0.04 - 0.01 1.76 0.03 0.04 0.02 0.04 + 0.00 1.56 0.02 0.04 0.03 0.04 - 0.00 0.09 0.03 0.04 0.04 0.04 - 0.00 0.12 0.04 0.13 0.12 0.12 - 0.01 0.21 0.07 0.17 0.13 0.15 unch 0.00 0.32 0.08 0.10 0.08 0.08 - 0.03 0.24 0.05 0.07 0.04 0.05 - 0.03 0.15 0.04 2.80 2.25 2.27 - 0.33 3.50 0.32 2.04 1.70 1.71 - 0.26 2.65 0.26 0.03 0.01 0.02 + 0.00 0.08 0.01 0.03 0.03 0.03 + 0.01 0.08 0.02 0.80 0.75 0.77 unch 0.00 1.86 0.70 0.60 0.56 0.57 - 0.00 1.45 0.54 0.01 0.01 0.01 unch 0.00 0.05 0.01 0.00 0.00 0.00 + 0.00 0.01 0.00 0.01 0.00 0.01 unch 0.00 0.02 0.01 0.03 0.03 0.03 + 0.01 0.19 0.02 0.06 0.05 0.06 unch 0.00 0.09 0.03 0.03 0.02 0.02 - 0.01 0.09 0.02 0.12 0.00 0.06 - 0.10 0.50 0.09 0.06 0.05 0.06 unch 0.00 0.18 0.05 0.06 0.05 0.06 + 0.00 0.09 0.05 0.12 0.12 0.12 + 0.01 0.15 0.10 0.00 0.00 0.40 unch 0.00 0.70 0.12 0.07 0.05 0.06 - 0.01 0.52 0.05 0.05 0.04 0.05 + 0.00 0.37 0.04 0.06 0.05 0.06 + 0.00 0.11 0.03 0.09 0.07 0.08 + 0.01 0.15 0.04 0.12 0.12 0.12 unch 0.00 0.20 0.12 0.18 0.14 0.14 - 0.03 0.40 0.10 0.10 0.09 0.10 - 0.01 0.23 0.09 0.14 0.12 0.13 - 0.01 0.28 0.12 0.06 0.05 0.05 - 0.00 0.13 0.05 0.09 0.07 0.08 + 0.01 0.19 0.07 0.25 0.23 0.25 + 0.02 0.25 0.22 0.73 0.55 0.68 + 0.03 2.15 0.41 0.52 0.42 0.49 + 0.00 1.62 0.31 0.02 0.02 0.02 - 0.01 0.06 0.02 0.00 0.00 0.09 unch 0.00 0.30 0.07 0.09 0.08 0.08 - 0.01 0.39 0.08 0.07 0.00 0.06 - 0.01 0.29 0.05 0.48 0.00 0.48 + 0.02 0.55 0.16 1.59 1.44 1.55 + 0.03 5.42 1.24 0.27 0.24 0.26 - 0.01 0.39 0.19 0.19 0.19 0.19 - 0.01 0.28 0.14 0.05 0.05 0.05 unch 0.00 0.16 0.05 0.03 0.00 0.01 - 0.04 0.10 0.01 0.04 0.00 0.04 unch 0.00 0.13 0.02 0.09 0.08 0.09 - 0.01 0.39 0.07 0.07 0.05 0.07 - 0.00 0.31 0.05 0.18 0.14 0.15 - 0.01 0.23 0.13

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Harfang Explor V 116 N 10861 Harmony Gold* Harte Gold* O 637 Harte Gold T 2844 Harvest Gold* O 453 Harvest Gold V 646 Havilah Mining* O 11 V 235 Havilah Mining Hawkeye Gld&Di* O 250 Hawkeye Gld&Di V 523 Heatherdale Rs V 87 17550 Hecla Mining* N Helio Res V 15 Helio Res* O 3 Hellix Vent* O 38 Hemcare Health* O 87 Heron Res* O 6 Highbank Res V 115 Highbury Proj V 50 Highland Copp* O 77 Highland Copp V 114 112 Highway 50 Gld V Highway 50 Gld* O 195 HiHo Silver 241 Hinterland Mtl V 97 O 8 Hochschild Mg* Homeland Egy* O 16 Honey Badger E V 677 Horizonte Mnls T 359 Hornby Bay Mnl* O 12 22 Hornby Bay Mnl V HudBay Mnls* N 3095 HudBay Mnls T 6944 Hudson Res V 157 Hudson Res* O 53 Hunt Mng* O 375 Hunt Mng V 304 121 Hut 8 Mining V Hut 8 Mining* O 11 Hybrid Mineral V 31 Hycroft Mg* O 1

0.21 0.21 0.21 unch 0.00 0.34 0.18 1.68 1.54 1.60 - 0.04 2.53 1.43 0.31 0.25 0.29 + 0.03 0.44 0.22 0.42 0.33 0.39 + 0.04 0.55 0.29 0.04 0.03 0.04 - 0.00 0.08 0.03 0.05 0.05 0.05 unch 0.00 0.10 0.04 0.21 0.20 0.20 - 0.02 0.35 0.20 0.31 0.26 0.28 - 0.02 0.69 0.25 0.04 0.04 0.04 unch 0.00 0.06 0.03 0.06 0.05 0.05 - 0.01 0.12 0.04 0.02 0.00 0.02 unch 0.00 0.07 0.02 2.44 2.27 2.30 - 0.11 4.63 2.17 0.07 0.00 0.07 unch 0.00 0.38 0.06 0.04 0.00 0.04 - 0.00 0.25 0.00 0.02 0.01 0.01 + 0.00 0.04 0.01 1.00 0.51 0.75 - 0.17 1.38 0.05 0.42 0.42 0.42 unch 0.00 0.60 0.37 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.24 0.24 0.24 unch 0.00 0.35 0.21 0.06 0.06 0.06 - 0.00 0.13 0.04 0.09 0.07 0.09 + 0.02 0.16 0.06 0.22 0.17 0.17 - 0.03 0.48 0.17 0.17 0.16 0.17 unch 0.00 0.37 0.16 0.04 0.04 0.04 unch 0.00 0.14 0.03 0.03 0.02 0.03 + 0.01 0.05 0.02 2.14 2.06 2.12 - 0.02 3.55 1.96 1.87 0.00 1.49 - 0.38 1.87 0.18 0.03 0.03 0.03 - 0.01 0.20 0.03 0.03 0.03 0.03 unch 0.00 0.11 0.03 0.02 0.01 0.01 - 0.00 0.07 0.00 0.03 0.03 0.03 - 0.01 0.08 0.00 5.06 4.49 4.68 - 0.20 10.25 3.44 6.78 6.02 6.26 - 0.25 12.65 4.51 0.44 0.40 0.41 - 0.02 0.64 0.39 0.34 0.29 0.31 - 0.02 0.52 0.29 0.17 0.10 0.17 + 0.07 0.41 0.10 0.23 0.13 0.16 + 0.04 0.51 0.12 1.69 1.21 1.35 - 0.32 5.00 1.21 1.25 0.89 0.97 - 0.30 3.74 0.89 0.09 0.07 0.08 - 0.02 0.55 0.06 0.13 0.13 0.13 + 0.03 0.13 0.01

I-Minerals* O 23 I-Minerals V 9 IAMGOLD T 7178 IAMGOLD* N 21608 Iconic Mnls V 450 Iconic Mnls * O 114 IDM Mining* O 121 IDM Mining V 581 IEMR Res V 15 iMetal Res V 1517 iMetal Res* O 217 V 228 IMPACT Silver Imperial Metal* O 171 Imperial Metal T 199 Imperial Mg Gr V 358 Inca One Gold* O 365 Inca One Gold V 673 Inception Mng * O 48 Independence G V 62 Independence G* O 23 Indico Res V 190 Indigo Expl V 158 Infinite Lith* O 12 Infinite Lith V 369 Inform Res V 0 Infrastructure* O 40 Inomin Mines V 64 Intact Gold V 232 Integra Res* O 80 Integra Res V 398 V 64 Inter-Rock Mnl Interconnect V 4 Intercontinent* O 20 Intercontinent V 202 Intgr Egy Sol* O 775 Intl Battery* O 325 Intl Battery 550 Intl Bethl Mng V 62 Intl Bethl Mng* O 3 Intl Cobalt* O 44 Intl Cobalt 1371 Intl Corona V 60 Intl Lithium* O 39 Intl Lithium V 90 Intl Montoro V 145 Intl Prospect * O 15 Intl Prospect V 5 Intl Samuel Ex V 1936 Intl Star* O 3264 Intl Tower Hil* X 206 Intl Tower Hil T 19 Intl Zeolite* O 7 Intrepid Pots* N 2652 INV Metals* O 21 INV Metals T 198 Inventus Mg * O 100 Inventus Mg V 185 InZinc Mining V 1524 InZinc Mining* O 1606 Ireland* O 196 0 Ironside Res * O Irving Res* O 139 Irving Res 228 IsoEnergy Ltd V 158 Itafos* O 222 V 625 Itafos Itoco Inc* O 0 Ivanhoe Mines* O 483 Ivanhoe Mines T 3789 Jade Leader V 96 Jaeger Res V 23 Jaguar Mng* O 20 Jaguar Mng T 76 Japan Gold V 1987 Japan Gold* O 217 Jasper Mng V 210 Jaxon Mining* O 14 Jaxon Mining V 271 Jayden Res* O 2 Jayden Res V 843 Jazz Res V 10 JDF Explor Inc 0 Jiulian Res V 267 Jourdan Res V 440 Jubilee Gold V 0 Juggernaut Exp* O 79 Juggernaut Exp V 973 Jupiter Gold* O 0 K2 Gold V 49 K92 Mng Inc* O 282 K92 Mng Inc V 554 Kaizen Discov V 194 Kal Minerals 2 Kapuskasing Gd V 315 Karmin Expl V 37 Karnalyte Res T 111 Karoo Expl V 204 KAT Expl* O 563503 Katanga Mng T 1544 Kenadyr Mining V 285 Kenadyr Mining* O 5 Kermode Res V 50 Kerr Mines* O 219 Kerr Mines T 213 Kesselrun Res* O 119 Kesselrun Res V 315 Kestrel Gold V 1188 Khan Res 33 Kilo Goldmines V 338 Kilo Goldmines* O 80 Kincora Copper* O 442 Kincora Copper V 97 Kings Bay Res V 527 Kingsmen Res V 29 Kingsmen Res* O 1 Kinross Gold T 20464 Kinross Gold* N 53536 Kintavar Exp V 713 Kirkland Lake* N 7443 Kirkland Lake T 5028 Klondike Gold* O 101 Klondike Gold V 310 Klondike Silv* O 1 Klondike Silv V 529 Knick Expl V 515 Kombat Copper V 467 Komet Resource V 469 Kootenay Silvr* O 153 Kootenay Silvr V 550 Kootenay Zinc 99

0.09 0.09 0.09 unch 0.00 0.28 0.09 0.15 0.00 0.12 - 0.03 0.35 0.12 4.63 4.32 4.52 + 0.13 8.20 3.64 3.48 3.23 3.38 + 0.09 6.52 2.75 0.12 0.11 0.12 - 0.01 0.43 0.08 0.08 0.08 0.08 - 0.00 0.28 0.06 0.05 0.03 0.04 + 0.01 0.10 0.03 0.06 0.05 0.06 + 0.01 0.11 0.04 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.11 0.10 0.10 - 0.01 0.18 0.07 0.09 0.08 0.09 - 0.00 0.12 0.05 0.32 0.26 0.29 - 0.01 0.56 0.20 1.06 0.78 0.94 + 0.12 2.77 0.72 1.47 1.05 1.31 + 0.19 3.47 0.93 0.07 0.05 0.07 - 0.01 0.27 0.05 0.04 0.03 0.03 - 0.00 0.09 0.03 0.04 0.04 0.04 unch 0.00 0.11 0.04 0.15 0.00 0.11 - 0.04 0.33 0.05 0.05 0.00 0.05 - 0.01 0.14 0.04 0.03 0.03 0.03 + 0.00 0.10 0.03 0.01 0.01 0.01 - 0.01 0.03 0.01 0.02 0.01 0.01 - 0.01 0.04 0.01 0.09 0.08 0.09 - 0.01 0.34 0.08 0.12 0.08 0.09 - 0.04 0.45 0.08 0.00 0.00 0.07 unch 0.00 0.31 0.07 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.05 0.04 0.04 - 0.01 0.20 0.03 0.07 0.06 0.07 unch 0.00 1.18 0.06 0.53 0.44 0.52 + 0.01 1.83 0.05 0.70 0.61 0.69 unch 0.00 1.40 0.61 0.29 0.27 0.27 + 0.01 0.59 0.20 0.08 0.08 0.08 unch 0.00 0.11 0.04 0.25 0.00 0.25 + 0.09 0.47 0.12 0.33 0.25 0.28 + 0.03 0.65 0.14 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.13 0.12 0.12 unch 0.00 0.69 0.10 0.17 0.16 0.16 unch 0.00 0.89 0.13 0.04 0.04 0.04 + 0.01 0.17 0.03 0.02 0.02 0.02 unch 0.00 0.13 0.02 0.04 0.03 0.04 - 0.00 0.31 0.03 0.05 0.04 0.05 unch 0.00 0.45 0.04 0.04 0.03 0.04 unch 0.00 0.08 0.03 0.04 0.03 0.03 - 0.00 0.18 0.03 0.06 0.05 0.06 + 0.01 0.23 0.05 0.06 0.05 0.06 + 0.01 0.08 0.04 0.11 0.11 0.11 unch 0.00 0.25 0.10 0.18 0.13 0.18 - 0.02 0.38 0.12 0.05 0.04 0.04 unch 0.00 0.22 0.03 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.47 0.39 0.41 + 0.00 0.78 0.35 0.57 0.51 0.54 - 0.01 0.99 0.48 0.03 0.01 0.03 + 0.01 0.36 0.01 3.14 2.84 2.89 - 0.18 5.31 2.91 0.46 0.32 0.44 + 0.12 0.61 0.26 0.63 0.55 0.58 + 0.02 0.82 0.35 0.11 0.09 0.09 - 0.02 0.27 0.08 0.13 0.12 0.12 - 0.01 0.34 0.11 0.06 0.05 0.05 - 0.01 0.24 0.04 0.05 0.04 0.05 + 0.00 0.19 0.03 0.09 0.05 0.06 - 0.01 0.19 0.05 0.00 0.00 0.06 unch 0.00 0.12 0.06 1.34 1.19 1.26 + 0.06 1.42 0.58 1.78 1.59 1.63 + 0.03 1.87 0.74 0.44 0.38 0.43 + 0.06 0.73 0.28 0.75 0.00 0.75 - 0.00 2.25 0.75 1.10 0.91 1.00 + 0.02 2.90 0.91 0.00 0.00 0.06 unch 0.00 0.36 0.02 2.00 1.76 1.77 - 0.16 3.60 1.53 2.67 2.35 2.38 - 0.21 4.54 2.00 0.24 0.20 0.24 + 0.04 0.50 0.19 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.15 0.00 0.15 + 0.01 0.33 0.13 0.21 0.19 0.20 unch 0.00 0.41 0.18 0.30 0.11 0.22 + 0.08 0.35 0.07 0.23 0.09 0.15 + 0.04 0.28 0.06 0.09 0.08 0.08 - 0.01 0.29 0.07 0.05 0.05 0.05 - 0.00 0.24 0.04 0.07 0.06 0.06 - 0.01 0.29 0.06 0.12 0.11 0.12 + 0.02 0.12 0.06 0.20 0.16 0.18 + 0.01 0.20 0.08 0.05 0.05 0.05 unch 0.00 0.09 0.03 0.00 0.00 0.05 unch 0.00 0.15 0.01 0.10 0.07 0.07 - 0.01 0.18 0.02 0.04 0.04 0.04 - 0.01 0.13 0.03 0.00 0.00 0.64 unch 0.00 0.70 0.40 0.11 0.10 0.11 + 0.01 1.10 0.10 0.16 0.13 0.15 + 0.02 0.59 0.10 0.00 0.00 2.25 unch 0.00 2.25 2.00 0.18 0.16 0.16 - 0.01 0.33 0.16 0.63 0.58 0.59 - 0.01 0.79 0.32 0.85 0.76 0.79 - 0.01 1.04 0.41 0.06 0.00 0.06 + 0.01 0.13 0.05 0.15 0.15 0.15 unch 0.00 0.20 0.15 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.71 0.66 0.71 + 0.05 1.10 0.62 0.23 0.18 0.18 - 0.04 0.61 0.18 0.09 0.08 0.08 unch 0.00 1.10 0.06 0.00 0.00 0.00 + 0.00 0.00 0.00 0.65 0.56 0.63 + 0.04 2.83 0.36 0.09 0.08 0.08 - 0.01 0.21 0.08 0.06 0.06 0.06 - 0.01 0.16 0.05 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.10 0.08 0.08 - 0.02 0.28 0.08 0.13 0.12 0.12 - 0.01 0.34 0.12 0.04 0.04 0.04 unch 0.00 0.13 0.03 0.05 0.05 0.05 unch 0.00 0.15 0.04 0.02 0.01 0.01 - 0.01 0.07 0.02 0.07 0.06 0.06 unch 0.00 0.18 0.05 0.02 0.00 0.02 unch 0.00 0.07 0.01 0.01 0.01 0.01 + 0.00 0.06 0.01 0.08 0.08 0.08 + 0.00 0.23 0.08 0.13 0.10 0.10 - 0.03 0.29 0.10 0.04 0.03 0.04 unch 0.00 0.13 0.03 0.44 0.36 0.37 - 0.03 0.44 0.10 0.26 0.26 0.26 unch 0.00 0.29 0.07 3.92 3.72 3.85 + 0.07 5.90 3.15 2.94 2.77 2.88 + 0.03 4.78 2.38 0.25 0.18 0.22 + 0.05 0.65 0.10 25.03 23.29 23.73 + 0.36 25.03 13.09 33.42 31.11 31.74 + 0.63 33.42 16.54 0.15 0.14 0.15 - 0.00 0.34 0.13 0.21 0.19 0.19 - 0.01 0.44 0.18 0.03 0.00 0.03 - 0.00 0.08 0.03 0.06 0.05 0.05 - 0.01 0.10 0.04 0.01 0.01 0.01 - 0.01 0.03 0.01 0.06 0.05 0.06 unch 0.00 0.36 0.05 0.20 0.15 0.18 - 0.02 0.48 0.15 0.12 0.10 0.11 + 0.01 0.20 0.08 0.16 0.12 0.14 unch 0.00 0.25 0.11 0.09 0.07 0.08 + 0.02 0.90 0.05

I-J-K

(100s) Stock

Week

21

12-month

Exc Volume High Low Last Change High Low

Kootenay Zinc* O 38 Kore Mining V 155 Kutcho Copper * O 128 KWG Res* O 101 KWG Res 2032

0.08 0.04 0.05 + 0.00 0.66 0.03 0.13 0.10 0.13 + 0.01 5.00 0.10 0.23 0.21 0.21 - 0.02 0.84 0.19 0.02 0.00 0.02 unch 0.00 0.02 0.01 0.02 0.01 0.01 unch 0.00 0.02 0.01

La Imperial 21 Labdr Iron Mns* O 806 V 856 Labrador Gold Labrador Gold* O 5 Labrador Iron T 918 Lara Expl V 131 Laramide Res T 513 Laredo Res* O 1338 Largo Res T 8075 Largo Res* O 2276 Lateral Gold V 166 Latin Am Mnls V 71 251 Laurion Mnl Ex V 37 Laurion Mnl Ex* O Le Mare Gold* O 3 LeadFX Inc* O 93 Leading Edge V 222 Leading Edge* O 237 Leagold Mg T 469 Leagold Mg* O 173 Leeta Gold V 4735 Leo Res* O 2 Lepanto Con Mg* O 600 Levon Res Ltd * O 90 Levon Res Ltd T 47 Libero Copper V 128 Liberty Gold* O 83 Liberty One Li V 152 Liberty One Li* O 590 LiCo Energy* O 35 LiCo Energy V 111 Lincoln Mng V 1188 Lion One Mtls V 108 Lion One Mtls* O 14 Lions Bay Cap V 208 Lions Bay Mg 12 2 Lions Gate Mtl* O Lithion Energy* O 5 Lithium Amer* N 408 Lithium Amer T 495 Lithium Chile* O 57 Lithium Chile V 172 Lithium Corp* O 365 O 5 Lithium Energi* Lithium Energi V 110 Lithium Energy V 21 Lithium Expl* O 862 Lithoquest Dia V 108 LKA Gold* O 6 Lode-Star Mg* O 7 Logan Res* O 1 Lomiko Mtls* O 9 Lomiko Mtls V 217 Loncor Res* O 0 Loncor Res T 107 Lone Star Gold* O 171 Lonmin plc* O 9 Lonmin plc* O 0 Lorraine Coppr* O 2 Lorraine Coppr V 524 Los Andes Copp V 311 LSC Lithium* O 46 Lucara Diam T 1565 Lucky Mnls * O 52 Lucky Mnls V 473 Luckystrike * O 47 Luckystrike V 39 Lumina Gold* O 70 Lumina Gold V 212 Luminex Res V 14 Lundin Gold T 187 Lundin Mng T 12615 Lupaka Gold V 279 Lydian Intl* O 86 Lydian Intl T 1624 Lynas Corp* O 58 Lynas Corp* O 117

0.07 0.07 0.07 unch 0.00 0.08 0.06 0.00 0.00 0.00 - 0.00 0.11 0.00 0.17 0.14 0.15 unch 0.00 0.35 0.14 0.12 0.12 0.12 unch 0.00 0.21 0.11 25.49 24.00 24.07 - 1.66 31.36 20.44 0.52 0.47 0.47 unch 0.00 0.88 0.47 0.43 0.39 0.40 - 0.02 0.55 0.24 0.01 0.01 0.01 - 0.00 0.05 0.00 3.38 2.95 3.03 - 0.16 4.65 0.95 2.53 2.16 2.25 - 0.13 3.56 0.75 0.35 0.33 0.33 - 0.02 0.90 0.28 0.02 0.02 0.02 + 0.00 0.15 0.02 0.09 0.08 0.09 + 0.01 0.11 0.04 0.06 0.06 0.06 + 0.00 0.08 0.03 0.04 0.03 0.03 + 0.02 0.38 0.00 0.73 0.73 0.73 unch 0.00 1.57 0.65 0.25 0.21 0.22 - 0.03 1.01 0.22 0.19 0.16 0.16 - 0.02 0.80 0.16 1.50 1.36 1.40 - 0.06 3.25 1.28 1.13 1.01 1.04 - 0.06 2.66 0.95 0.29 0.24 0.25 - 0.05 4.02 0.24 0.10 0.00 0.09 + 0.00 0.86 0.01 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.10 0.09 0.10 + 0.01 0.32 0.09 0.14 0.13 0.13 unch 0.00 0.39 0.12 0.08 0.07 0.08 + 0.02 0.15 0.07 0.26 0.24 0.24 - 0.01 0.42 0.21 0.08 0.07 0.07 - 0.01 1.35 0.07 0.07 0.04 0.05 - 0.00 1.07 0.05 0.09 0.06 0.06 - 0.01 0.18 0.01 0.11 0.09 0.09 - 0.02 1.90 0.09 0.02 0.02 0.02 + 0.01 0.05 0.01 0.45 0.41 0.41 - 0.02 0.76 0.39 0.34 0.33 0.33 unch 0.00 0.62 0.30 0.04 0.04 0.04 - 0.01 0.16 0.04 0.12 0.00 0.12 unch 0.00 0.15 0.11 0.04 0.04 0.04 unch 0.00 0.42 0.04 0.05 0.02 0.02 - 0.03 0.11 0.02 3.78 3.43 3.51 - 0.13 10.39 3.04 5.06 4.59 4.67 - 0.13 12.94 4.00 0.44 0.40 0.41 - 0.03 0.97 0.38 0.59 0.54 0.54 - 0.04 1.35 0.51 0.14 0.11 0.13 + 0.00 0.62 0.10 0.20 0.16 0.16 - 0.04 0.54 0.16 0.27 0.22 0.26 + 0.09 0.68 0.17 0.13 0.12 0.12 unch 0.00 1.30 0.09 0.01 0.01 0.01 - 0.00 0.13 0.01 0.17 0.13 0.16 + 0.01 0.88 0.13 0.18 0.12 0.18 + 0.06 0.22 0.05 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.00 0.00 0.00 unch 0.00 0.03 0.00 0.03 0.03 0.03 + 0.00 0.24 0.03 0.05 0.04 0.05 unch 0.00 0.31 0.04 0.06 0.00 0.06 + 0.00 0.09 0.04 0.09 0.00 0.09 - 0.01 0.14 0.06 0.01 0.00 0.00 - 0.00 0.03 0.00 0.61 0.58 0.58 - 0.02 1.24 0.45 0.00 0.00 0.63 unch 0.00 0.90 0.53 0.08 0.08 0.08 unch 0.00 0.12 0.01 0.12 0.10 0.12 + 0.01 0.19 0.07 0.22 0.18 0.21 + 0.02 0.39 0.18 0.36 0.27 0.27 - 0.08 1.31 0.24 1.67 1.54 1.56 - 0.09 2.91 1.54 0.11 0.00 0.11 + 0.02 0.16 0.06 0.15 0.11 0.15 + 0.02 0.21 0.09 0.16 0.00 0.16 + 0.04 0.35 0.12 0.22 0.00 0.21 + 0.04 0.55 0.14 0.47 0.37 0.38 - 0.02 0.67 0.36 0.55 0.49 0.49 - 0.05 0.85 0.46 0.64 0.54 0.59 + 0.02 1.05 0.51 5.06 4.81 4.95 - 0.01 5.52 4.08 5.97 5.60 5.69 - 0.31 9.21 4.70 0.13 0.11 0.11 unch 0.00 0.29 0.11 0.14 0.11 0.12 + 0.02 0.50 0.05 0.18 0.14 0.15 + 0.02 0.63 0.07 1.20 1.15 1.16 - 0.04 2.20 1.10 1.23 1.14 1.16 - 0.02 2.20 1.12

L

M M.P.V. Explor 625 0.06 0.06 0.06 - 0.01 0.30 0.06 M2 Cobalt* O 1 0.17 0.17 0.17 unch 0.00 0.61 0.17 Macarthur Mnl* O 1425 0.02 0.00 0.02 + 0.01 0.06 0.01 Macarthur Mnl V 627 0.03 0.02 0.03 unch 0.00 0.08 0.02 O 3 0.03 0.03 0.03 unch 0.00 0.09 0.02 MacDonald Mns* MacDonald Mns V 169 0.03 0.00 0.03 - 0.01 0.12 0.03 MAG Silver T 550 9.32 8.91 9.21 - 0.08 15.97 8.10 Magellan Gold* O 1558 0.03 0.02 0.02 unch 0.00 0.04 0.01 Magna Terra V 173 0.03 0.03 0.03 + 0.01 0.06 0.03 Majestic Gold V 109 0.06 0.06 0.06 unch 0.00 0.11 0.04 Makena Res* O 7 0.05 0.03 0.03 - 0.02 0.15 0.03 Makena Res 276 0.06 0.00 0.04 - 0.02 0.24 0.04 Mako Mining* O 17 0.13 0.11 0.13 - 0.00 0.23 0.00 Mako Mining V 643 0.20 0.14 0.19 + 0.02 0.29 0.14 Mammoth Res V 213 0.04 0.03 0.04 + 0.01 0.16 0.03 Manado Gold V 230 0.05 0.04 0.04 unch 0.00 0.15 0.04 Mandalay Res T 1146 0.07 0.06 0.07 + 0.01 0.30 0.05 O 142 0.05 0.04 0.05 + 0.00 0.24 0.03 Mandalay Res* Manganese X* O 20 0.10 0.09 0.09 unch 0.00 0.21 0.09 Manganese X V 204 0.13 0.10 0.13 + 0.03 0.28 0.10 Mangazeya Mng V 1078 0.04 0.03 0.04 + 0.02 0.05 0.02 Manitou Gold V 49 0.05 0.05 0.05 unch 0.00 0.19 0.04 Maple Gold V 1931 0.11 0.09 0.10 - 0.01 0.34 0.09 Maple Gold* O 762 0.08 0.07 0.07 - 0.01 0.27 0.06 Marathon Gold* O 24 0.62 0.00 0.60 - 0.00 1.03 0.49 Marathon Gold T 362 0.82 0.77 0.79 - 0.01 1.28 0.65 Margaret Lake V 2428 0.06 0.03 0.06 + 0.03 0.16 0.02 Margaux Res V 246 0.05 0.04 0.05 + 0.01 0.35 0.04 O 20 0.04 0.03 0.04 - 0.00 0.24 0.01 Margaux Res* Marifil Mines* O 246 0.05 0.04 0.04 - 0.01 0.17 0.01 Marifil Mines V 364 0.09 0.06 0.06 - 0.01 0.32 0.06 Maritime Res V 543 0.10 0.08 0.09 + 0.01 0.14 0.07 Martina Mnls V 0 0.00 0.00 0.04 unch 0.00 0.07 0.04 MartinMarietta* N 3795 184.25 171.98 174.76 - 6.72 241.33 150.75 0.04 Mas Gold V 313 0.05 0.04 0.04 - 0.01 0.14 Mason Graphite* O 241 0.46 0.41 0.41 - 0.03 2.25 0.34 Mason Graphite V 484 0.62 0.54 0.55 - 0.03 2.80 0.44 Mason Res T 209 0.40 0.40 0.40 unch 0.00 0.40 0.14 Mason Res* O 20 0.30 0.00 0.28 - 0.01 0.31 0.11 Matachewan Con V 17 0.16 0.15 0.15 - 0.01 0.30 0.15 Matica Ent* O 23 0.08 0.07 0.07 - 0.01 0.64 0.07 Matica Ent 1735 0.11 0.10 0.10 - 0.01 0.81 0.10 Maudore Mnrls* O 80 0.00 0.00 0.00 unch 0.00 0.00 0.00 V 40 2.47 2.26 2.28 - 0.19 2.85 1.33 Maverix Metals Maverix Metals* O 23 1.83 1.70 1.74 - 0.13 2.10 1.03 Mawson Res T 263 0.23 0.20 0.21 unch 0.00 0.63 0.20 0.15 Mawson Res* O 44 0.17 0.15 0.17 - 0.01 0.48 MaxTech Vent 159 0.20 0.14 0.15 - 0.05 0.60 0.10 MaxTech Vent* O 132 0.15 0.10 0.11 - 0.04 0.48 0.07 Maxwell Res* O 19 0.00 0.00 0.00 unch 0.00 0.01 0.00 Maya Gold &Sil* O 26 1.36 0.00 1.34 - 0.23 2.35 1.11 104 2.08 1.63 1.78 - 0.31 3.02 1.36 Maya Gold &Sil T Mazarin V 381 0.09 0.07 0.09 unch 0.00 0.18 0.04 MBMI Res* O 0 0.00 0.00 0.01 unch 0.00 0.09 0.00 MBMI Res V 16 0.03 0.03 0.03 unch 0.00 0.13 0.03 McChip Res V 6 0.90 0.89 0.90 unch 0.00 0.90 0.50 McEwen Mng T 495 2.47 2.27 2.31 - 0.10 3.28 2.24 N 7414 1.82 1.70 1.72 - 0.10 2.55 1.68 McEwen Mng* McLaren Res 1625 0.03 0.03 0.03 unch 0.00 0.19 0.02 MDN Inc* O 2 0.16 0.00 0.16 + 0.01 0.28 0.13 Meadow Bay Gd 718 0.04 0.03 0.03 - 0.01 0.26 0.03 Meadow Bay Gd* O 247 0.03 0.03 0.03 - 0.00 0.28 0.03 Mechel* N 268 2.52 2.37 2.38 - 0.21 5.60 2.30 Medallion Res V 526 0.12 0.00 0.11 + 0.01 0.18 0.08 Medallion Res* O 20 0.08 0.08 0.08 unch 0.00 0.14 0.06 Medgold Res* O 5 0.11 0.10 0.11 - 0.01 0.38 0.10 Medgold Res V 184 0.15 0.13 0.15 + 0.01 0.51 0.13 Medinah Mnrls* O 2663 0.00 0.00 0.00 + 0.00 0.01 0.00 Mega Copper V 9 0.16 0.16 0.16 unch 0.00 0.18 0.16 Mega Uranium T 1749 0.12 0.12 0.12 - 0.01 0.24 0.11 Mega Uranium* O 218 0.09 0.08 0.08 + 0.00 0.19 0.08 Megastar Dev V 20 0.05 0.05 0.05 + 0.01 0.11 0.04 MegumaGold* O 25 0.14 0.12 0.12 - 0.02 0.24 0.09 MegumaGold 104 0.20 0.15 0.16 - 0.05 0.30 0.12 Melior Res V 6 0.68 0.00 0.56 unch 0.00 1.50 0.56 Melkior Res V 329 0.07 0.06 0.07 + 0.01 0.11 0.04 0 0.00 0.00 25.00 unch 0.00 Merger Mines* O Meridian Mg V 13 0.09 0.07 0.07 - 0.03 1.28 0.05 Meridius Res V 10 0.20 0.20 0.20 unch 0.00 0.20 0.18 Meryllion Res 5 0.02 0.00 0.02 unch 0.00 0.21 0.02 Meryllion Res* O 0 0.01 0.01 0.01 unch 0.00 0.07 0.01 MetalCorp V 345 0.02 0.01 0.02 + 0.01 0.04 0.01 Metalex Vent V 139 0.03 0.03 0.03 - 0.01 0.07 0.02 Metalla Rylty* O 809 0.64 0.58 0.61 - 0.02 0.71 0.46 Metalla Rylty V 915 0.85 0.78 0.81 - 0.02 0.88 0.62 Metallic Mnrls* O 30 0.13 0.11 0.13 - 0.00 0.40 0.12 Metallic Mnrls V 173 0.18 0.15 0.17 - 0.01 0.50 0.15

2018-12-17 1:25 PM

22

WWW.NORTHERNMINER.COM

DECEMBER 24, 2018–JANUARY 6, 2019 / THE NORTHERN MINER

S T O C K TA B L E S (100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Metallis Res V 196 Metalo Manuf 6 Metalore Res V 2 Metals Creek* O 279 Metals Creek V 311 Metals X* O 260 V 4 Metron Capital Mexican Gold* O 54 Mexivada Mng* O 4 Mexus Gold* O 8704 MGX Minerals* O 1075 MGX Minerals 1183 Midas Gold T 751 Midas Gold* O 1126 Midasco Cap V 50 Midland Expl V 58 Midnight Star 108 Midnight Sun V 35 Millennial Lit* O 44 Millennial Lit V 158 Millrock Res* O 137 Millrock Res V 457 Milner Con Slv V 32 Minaurum Gold V 355 Minaurum Gold* O 130 Minco Silver* O 27 Minco Silver T 67 Minecorp Egy * O 5 Minera Alamos * O 40 Minera Alamos V 515 Minera IRL 197 Mineral Hill V 30 Mineral Mtn* O 156 Mineral Mtn V 389 Mineral Res* O 4 MineralRite* O 81100 Mineworx Tech V 1036 Mineworx Tech* O 211 Minfocus Expl V 150 Minfocus Expl* O 174 O 4005 Mining Global* Minnova Corp V 381 Minsud Res V 2 Miramont Res* O 406 Miramont Res 667 Miranda Gold V 1002 Mirasol Res V 174 Mistango River 301 MK2 Ventures V 5 Mkango Res V 314 ML Gold* O 35 ML Gold Corp V 1601 O 42 Monarca Mnrls* Monarca Mnrls V 759 Monarques Res T 177 Monarques Res* O 96 Moneta Porcpn* O 211 Moneta Porcpn T 470 Monitor Vent V 49 Monitor Vent* O 19 Monster Uran* O 0 Monster Uran V 2 Montan Mg* O 400 Montan Mg V 817 Montego Res 583 20 Montero Mg&Ex * O Montero Mg&Ex V 5 Monument Mng V 512 Morien Res* O 25 Morien Res V 106 O 13 Morumbi Res* Morumbi Res T 191 N 26260 Mosaic* Mount Gibson * O 15 Mountain Boy* O 208 Mountain Boy V 104 Mountain Prov T 765 D 314 Mountain Prov* Mundoro Cap* O 50 Mundoro Cap V 100 Murchison Min V 54 MX Gold* O 77

0.55 0.47 0.49 - 0.02 1.53 0.49 0.30 0.19 0.19 - 0.12 0.57 0.15 2.23 1.75 1.75 - 0.48 3.00 1.75 0.04 0.03 0.03 - 0.00 0.08 0.02 0.05 0.05 0.05 - 0.01 0.11 0.04 0.27 0.00 0.27 - 0.02 0.96 0.27 0.00 0.00 0.06 unch 0.00 0.08 0.05 0.12 0.10 0.11 - 0.01 0.34 0.11 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.01 0.01 0.01 + 0.00 0.07 0.01 0.40 0.32 0.33 - 0.04 1.58 0.32 0.53 0.43 0.44 - 0.06 1.96 0.42 0.83 0.68 0.69 unch 0.00 1.21 0.55 0.62 0.51 0.52 - 0.01 0.95 0.42 0.09 0.09 0.09 unch 0.00 0.15 0.07 0.90 0.82 0.82 - 0.07 1.41 0.66 0.27 0.21 0.25 unch 0.00 0.40 0.11 0.14 0.13 0.13 - 0.01 0.48 0.10 1.09 1.01 1.01 - 0.10 3.87 1.03 1.47 1.36 1.37 - 0.11 4.80 1.36 0.08 0.06 0.07 - 0.01 0.31 0.06 0.11 0.08 0.08 - 0.02 0.40 0.09 0.05 0.04 0.04 unch 0.00 0.11 0.03 0.49 0.45 0.45 - 0.04 0.67 0.22 0.37 0.34 0.35 - 0.02 0.52 0.17 0.33 0.32 0.32 - 0.01 0.77 0.31 0.45 0.42 0.42 unch 0.00 0.98 0.42 0.02 0.02 0.02 unch 0.00 0.07 0.02 0.08 0.00 0.08 unch 0.00 0.16 0.07 0.10 0.10 0.10 + 0.01 0.19 0.10 0.07 0.06 0.07 + 0.01 0.14 0.05 0.14 0.09 0.13 - 0.01 0.27 0.09 0.11 0.09 0.10 - 0.00 0.60 0.05 0.15 0.12 0.14 unch 0.00 0.74 0.07 11.70 10.25 10.25 - 1.45 16.78 7.67 0.00 0.00 0.00 + 0.00 0.00 0.00 0.14 0.12 0.13 + 0.01 0.40 0.11 0.11 0.09 0.10 + 0.00 0.33 0.08 0.04 0.03 0.03 - 0.01 0.42 0.03 0.03 0.03 0.03 unch 0.00 0.04 0.03 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.65 0.54 0.63 + 0.03 0.93 0.43 0.05 0.05 0.05 unch 0.00 0.21 0.05 0.29 0.20 0.24 + 0.04 0.33 0.12 0.39 0.26 0.32 + 0.06 0.59 0.13 0.02 0.00 0.02 + 0.00 0.06 0.01 1.12 1.00 1.10 + 0.06 2.60 0.99 0.04 0.02 0.03 + 0.01 0.07 0.01 0.22 0.22 0.22 - 0.01 0.39 0.15 0.16 0.12 0.12 unch 0.00 0.24 0.11 0.02 0.02 0.02 - 0.00 0.26 0.02 0.03 0.03 0.03 - 0.01 0.32 0.03 0.02 0.01 0.02 unch 0.00 0.09 0.01 0.02 0.02 0.02 unch 0.00 0.11 0.02 0.27 0.21 0.21 - 0.06 0.42 0.15 0.24 0.15 0.16 - 0.03 0.35 0.11 0.09 0.08 0.08 - 0.00 0.15 0.06 0.13 0.11 0.11 - 0.02 0.20 0.07 0.46 0.00 0.21 - 0.28 0.98 0.16 0.36 0.15 0.15 - 0.21 0.80 0.12 0.00 0.00 0.04 unch 0.00 0.06 0.04 0.15 0.00 0.15 unch 0.00 1.15 0.13 0.03 0.03 0.03 unch 0.00 0.04 0.01 0.07 0.05 0.06 - 0.01 0.11 0.03 0.07 0.04 0.05 - 0.01 0.47 0.04 0.07 0.07 0.07 unch 0.00 0.23 0.06 0.10 0.09 0.10 unch 0.00 0.35 0.09 0.06 0.05 0.06 - 0.02 0.09 0.05 0.35 0.35 0.35 - 0.00 0.60 0.35 0.48 0.47 0.48 + 0.01 0.77 0.46 0.37 0.32 0.32 - 0.11 0.96 0.36 0.50 0.39 0.39 - 0.11 1.23 0.43 34.14 30.55 30.93 - 2.59 37.37 22.90 0.34 0.34 0.34 unch 0.00 0.34 0.28 0.14 0.13 0.13 + 0.02 0.18 0.03 0.22 0.18 0.22 - 0.01 0.45 0.15 1.70 1.54 1.66 - 0.03 3.72 1.54 1.38 1.16 1.25 - 0.18 3.00 1.16 0.17 0.17 0.17 + 0.02 0.17 0.06 0.22 0.20 0.20 - 0.01 0.23 0.09 0.08 0.00 0.08 unch 0.00 0.25 0.08 0.00 0.00 0.00 - 0.00 0.12 0.00

NA Frac Sand* O 111 NACCO Ind* N 56 Namibia Crit V 32 Namibia Crit* O 41 Napier Vent V 8 Napier Vent* O 5 Natural Res Pt* N 223 Nautilus Mnrls T 1377 Nautilus Mnrls* O 1289 Navis Res Corp* O 0 Navy Res V 35 Nemaska Lith T 3798 Nemaska Lith* O 659 Neo Lithium V 376 Neometals* O 47 Network Expl* O 13 Network Expl V 230 Nevada Clean M V 1436 Nevada Clean M* O 580 Nevada Copper T 600 Nevada Energy* O 42 Nevada Energy V 56 Nevada Expl * O 246 Nevada Expl V 380 Nevada Sunrise* O 109 Nevada Sunrise V 278 Nevada Zinc V 165 Nevado Res V 7 Nevsun Res* X 2723 21049 Nevsun Res T New Age Metals V 416 New Age Metals* O 511 New Carolin Gd* O 18 New Carolin Gd V 206 New Destiny Mg V 67 New Dimen Res V 303 New Dimen Res* O 9 New Egy Min* O 125 New Energy Met V 858 New Gold* X 18680 New Gold T 4825 New Guinea Gld* O 292 New Jersey Mng* O 264 New Jersey Mng 15 New Milln Iron* O 135 New Milln Iron T 580 New Nadina V 225 New Nadina* O 19 New Oroperu V 13 19 New Pac Metals V New Pac Metals* O 11 New Tech Lith* O 0 New Tech Lith 678 New World Res V 238 Newlox Gold 625 Newmac Res V 10 Newmont Mng* N 28448 Newport Expl V 426 Newport Gold* O 12 NewRange Gold* O 229 NewRange Gold V 2356 Nexa Resources T 4 Nexa Resources* N 316 Nexgen Energy T 8521 Nexgen Energy* X 1995 NextSource Mat T 2330 Nexus Gold V 642 Nexus Gold* O 56 NGEx Res* O 7 NGEx Res T 75 Nickel Creek T 202 Nickel Creek* O 495 Nickel North V 19 Nickel One Res V 2451 Nicola Mg Inc V 325 Nicola Mg Inc* O 53 Nighthawk Gold* O 38 Nighthawk Gold T 654 Niobay Metals V 250 Niocan Inc V 168 Niocorp Dev T 345 Niocorp Dev* O 250 Nippon Dragon V 535

0.01 0.01 0.01 - 0.00 0.02 0.01 34.78 31.93 32.75 - 0.72 45.90 28.77 0.18 0.17 0.17 - 0.03 0.46 0.07 0.15 0.12 0.13 - 0.01 2.77 0.07 0.34 0.26 0.34 + 0.08 0.51 0.20 0.25 0.19 0.25 + 0.03 0.40 0.19 39.86 37.65 39.17 + 0.87 39.86 24.06 0.08 0.05 0.05 - 0.02 0.39 0.05 0.06 0.04 0.04 - 0.02 0.31 0.04 0.00 0.00 0.27 unch 0.00 0.56 0.27 0.15 0.15 0.15 unch 0.00 0.32 0.15 0.76 0.72 0.76 + 0.01 2.44 0.60 0.57 0.54 0.56 + 0.01 1.96 0.46 0.82 0.72 0.78 + 0.04 2.75 0.71 0.39 0.17 0.17 - 0.03 0.80 0.10 0.21 0.20 0.20 - 0.01 0.39 0.20 0.29 0.27 0.27 - 0.03 0.48 0.27 0.06 0.05 0.05 - 0.01 0.06 0.03 0.04 0.04 0.04 - 0.00 0.04 0.02 0.40 0.35 0.36 - 0.02 0.84 0.35 0.12 0.09 0.09 - 0.04 0.31 0.07 0.15 0.12 0.13 - 0.03 0.40 0.12 0.29 0.00 0.27 + 0.02 0.39 0.09 0.40 0.32 0.34 + 0.02 0.50 0.12 0.09 0.07 0.08 + 0.00 0.19 0.04 0.12 0.10 0.10 unch 0.00 0.25 0.06 0.11 0.10 0.10 - 0.02 0.25 0.10 0.20 0.00 0.13 - 0.07 0.90 0.10 4.48 4.28 4.38 - 0.10 4.54 2.00 5.97 5.73 5.91 - 0.06 5.98 2.50 0.06 0.05 0.06 unch 0.00 0.19 0.05 0.05 0.03 0.04 + 0.01 0.15 0.03 0.11 0.10 0.11 - 0.00 0.58 0.10 0.14 0.13 0.14 - 0.01 0.77 0.13 0.17 0.15 0.16 + 0.01 0.35 0.10 0.09 0.06 0.06 unch 0.00 0.30 0.05 0.05 0.05 0.05 unch 0.00 0.22 0.04 0.04 0.04 0.04 unch 0.00 0.05 0.00 0.11 0.07 0.07 - 0.04 0.90 0.05 0.89 0.77 0.79 - 0.07 3.56 0.70 1.19 1.03 1.04 - 0.10 4.45 0.90 0.00 0.00 0.00 + 0.00 0.00 0.00 0.19 0.16 0.18 - 0.01 0.25 0.12 0.17 0.17 0.17 unch 0.00 0.26 0.15 0.04 0.04 0.04 - 0.00 0.10 0.04 0.05 0.04 0.05 unch 0.00 0.13 0.04 0.09 0.05 0.09 + 0.03 3.75 0.05 0.05 0.00 0.05 - 0.02 2.93 0.03 0.33 0.32 0.33 + 0.02 0.53 0.27 1.44 1.34 1.37 - 0.07 1.70 1.21 1.10 0.98 1.04 + 0.06 1.29 0.97 0.00 0.00 0.03 unch 0.00 0.13 0.02 0.04 0.03 0.04 unch 0.00 0.17 0.03 0.19 0.18 0.19 unch 0.00 0.30 0.12 0.06 0.04 0.06 unch 0.00 0.07 0.03 0.07 0.07 0.07 unch 0.00 0.10 0.06 34.49 33.21 33.31 - 0.08 42.04 29.06 0.25 0.23 0.23 - 0.02 0.38 0.22 0.03 0.03 0.03 unch 0.00 0.08 0.02 0.10 0.09 0.09 - 0.01 0.34 0.05 0.15 0.12 0.14 - 0.01 0.38 0.07 16.48 15.65 15.87 - 0.63 26.70 13.90 12.39 11.61 11.88 - 0.37 21.61 10.52 2.85 2.55 2.58 - 0.15 3.58 2.12 2.13 1.91 1.94 - 0.12 2.85 1.65 0.11 0.09 0.10 unch 0.00 0.22 0.05 0.11 0.09 0.09 - 0.02 0.65 0.10 0.08 0.06 0.06 - 0.02 0.29 0.02 0.76 0.75 0.75 unch 0.00 1.10 0.75 1.00 1.00 1.00 unch 0.00 1.49 0.91 0.08 0.07 0.07 - 0.01 0.35 0.07 0.06 0.05 0.06 - 0.00 0.30 0.04 0.02 0.02 0.02 unch 0.00 0.07 0.02 0.03 0.02 0.02 - 0.01 0.13 0.02 0.11 0.10 0.10 - 0.01 0.21 0.09 0.08 0.07 0.08 unch 0.00 0.16 0.07 0.32 0.30 0.30 + 0.00 0.63 0.22 0.42 0.00 0.41 + 0.01 0.76 0.30 0.27 0.19 0.27 + 0.02 0.43 0.16 0.15 0.13 0.14 unch 0.00 0.36 0.06 0.60 0.55 0.55 - 0.03 0.78 0.40 0.45 0.41 0.42 - 0.03 0.62 0.31 0.02 0.02 0.02 unch 0.00 0.07 0.02

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(100s) Stock

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(100s) Stock

12-month

Exc Volume High Low Last Change High Low

Nippon Dragon* O 3 Nitinat Mnls* O 20 Nitinat Mnls V 54 Noble Mnl Expl* O 50 996 Noble Mnl Expl V Noka Res* O 480 Noram Vent V 150 Noranda Alum* O 141 Nordic Gold* O 42 Nordic Gold V 293 Noront Res V 2056 Norsemont Cap 8 Nortec Mnls* O 3 Nortec Mnls V 45 North Am Nickl V 417 70 North Am Nickl* O 16 North Am Pall* O North Am Pall T 19 North Arrow Mn* O 0 North Arrow Mn V 518 North Bay Res * O 7200 Northcliff Res T 132 Northern Light 127 Northern Uran V 466 Northern Uran* O 3 Northisle C&G V 38 Norvista Cap V 437 NorZinc T 185 NorZinc* O 198 Nouveau Monde V 1007 Nouveau Monde* O 23 NovaGold Res T 1568 NovaGold Res* X 6611 Novo Res* O 500 Novo Res V 700 NQ Minerals Pl* O 208 NRG Metals* O 946 NRG Metals V 1538 Nrthn Graphite* O 244 Nrthn Graphite V 173 Nrthn Lion* O 1 Nrthn Lion V 5 Nrthn Mnrls &E* O 17 Nrthn Shield V 1026 Nrthn Superior* O 489 Nrthn Superior V 3601 Nrthn Vertex* O 12 Nrthn Vertex V 228 NSGold V 5 NSS Res Inc 8 Nthn Dynasty T 1061 Nthn Dynasty* X 4198 Nthrn Sphere 105 Nthrn Sphere* O 78 Nubian Res V 30 Nuinsco Res* O 629 NuLegacy Gold V 516 NuLegacy Gold* O 266 Nutrien T 9660 Nutrien* N 9798 NV Gold* O 25 NV Gold V 75 NX Uranium* O 41 NxGold Ltd V 1662 NxGold Ltd* O 613 O.T. Mining* O 36 OceanaGold T 5301 OceanaGold* O 11 Oceanic Iron O V 195 Oceanus Res* O 36 Oceanus Res V 473 Odyssey Res V 1002 OK2 Minerals V 1297 Olivut Res V 90 Olivut Res* O 17 Omineca Mg &Ml V 33 One World Lith* O 1 327 One World Lith Opawica Expl* O 0 Opawica Expl V 582 Opus One Res V 772 Orbite Tech* O 21 Orca Gold V 382 Orca Gold* O 87 Orefinders Res V 419 Orestone Mng V 42 Orex Mnrls* O 14 Orex Mnrls V 47 Orezone Gold V 179 Orezone Gold* O 51 Orford Mining V 43 Organic Potash 5 OrganiMax V 85 OrganiMax* O 83 Origin Gold V 33 Orla Mng Ltd* O 500 Orla Mng Ltd T 28 Oro East Mg* O 39 Oroco Res V 281 Oroco Res* O 62 Orocobre T 125 Oronova Energy* O 184 V 306 Oronova Energy Oroplata Res* O 2377 Orosur Mng T 105 Orsu Metals V 30 Orsu Metals* O 6 Orvana Mnrls T 373 Orvana Mnrls* O 67 Osino Res V 483 Osisko Gold* N 2155 Osisko Gold T 2250 Osisko Metals* O 51 Osisko Metals V 880 Osisko Mng Inc T 1763 Osprey Gold V 359 Otis Gold V 337 Otis Gold* O 65 OZ Minerals* O 2

0.01 0.01 0.01 - 0.00 0.05 0.01 0.05 0.05 0.05 unch 0.00 0.36 0.04 0.05 0.05 0.05 - 0.01 0.51 0.05 0.07 0.07 0.07 unch 0.00 0.13 0.04 0.13 0.10 0.11 + 0.01 0.17 0.06 0.28 0.22 0.23 - 0.06 0.71 0.18 0.31 0.28 0.28 - 0.03 0.70 0.12 0.04 0.00 0.03 + 0.01 0.17 0.01 0.08 0.07 0.07 - 0.01 0.12 0.08 0.12 0.09 0.10 - 0.01 0.17 0.07 0.26 0.21 0.25 - 0.01 0.45 0.21 0.35 0.35 0.35 unch 0.00 0.47 0.32 0.00 0.00 0.00 unch 0.00 0.14 0.00 0.04 0.04 0.04 - 0.01 0.18 0.04 0.05 0.04 0.04 - 0.01 0.10 0.04 0.04 0.03 0.03 unch 0.00 0.08 0.03 9.16 7.93 8.38 - 0.52 10.11 5.69 12.23 10.63 11.30 - 0.48 13.35 7.28 0.08 0.00 0.08 + 0.00 0.20 0.08 0.13 0.00 0.10 - 0.05 0.26 0.11 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.07 0.05 0.06 + 0.01 0.16 0.05 0.05 0.04 0.05 + 0.01 0.15 0.04 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.01 0.01 0.01 unch 0.00 0.01 0.01 0.09 0.00 0.09 unch 0.00 0.21 0.08 0.07 0.06 0.07 unch 0.00 0.15 0.06 0.10 0.09 0.09 - 0.01 0.18 0.08 0.07 0.06 0.06 - 0.00 0.15 0.05 0.30 0.28 0.30 + 0.03 0.47 0.25 0.22 0.21 0.21 - 0.01 0.37 0.18 5.38 5.06 5.15 - 0.07 6.47 4.44 4.03 3.78 3.84 - 0.08 5.05 3.41 1.69 1.48 1.49 - 0.17 5.00 1.42 2.24 1.97 1.99 - 0.15 6.42 1.89 0.14 0.14 0.14 - 0.00 0.27 0.14 0.07 0.06 0.06 - 0.01 0.44 0.06 0.09 0.08 0.08 - 0.02 0.55 0.08 0.16 0.13 0.14 - 0.01 0.42 0.13 0.22 0.18 0.19 - 0.03 0.53 0.18 0.15 0.15 0.15 unch 0.00 0.43 0.15 0.26 0.26 0.26 unch 0.00 0.62 0.19 0.04 0.03 0.04 + 0.02 0.10 0.02 0.06 0.05 0.06 + 0.01 0.09 0.02 0.03 0.02 0.02 + 0.00 0.04 0.02 0.04 0.02 0.04 + 0.01 0.05 0.02 0.19 0.18 0.18 + 0.01 0.58 0.17 0.25 0.24 0.25 unch 0.00 0.70 0.22 0.07 0.07 0.07 - 0.01 0.14 0.02 0.19 0.15 0.19 + 0.03 0.82 0.08 0.91 0.80 0.81 - 0.09 2.99 0.55 0.70 0.59 0.61 - 0.07 2.30 0.43 0.03 0.03 0.03 unch 0.00 0.20 0.02 0.02 0.01 0.01 - 0.00 0.13 0.01 0.11 0.11 0.11 unch 0.00 0.31 0.09 0.00 0.00 0.00 + 0.00 0.01 0.00 0.14 0.12 0.12 - 0.03 0.22 0.10 0.11 0.08 0.09 - 0.02 0.17 0.08 67.25 62.31 62.87 - 3.44 76.17 55.27 50.19 46.52 46.98 - 2.88 58.99 40.41 0.06 0.06 0.06 unch 0.00 0.92 0.05 0.09 0.08 0.09 + 0.01 1.22 0.07 0.11 0.06 0.11 + 0.06 0.11 0.01 0.10 0.07 0.08 unch 0.00 0.40 0.06 0.07 0.06 0.06 unch 0.00 0.25 0.06 0.10 0.00 0.08 unch 0.00 0.24 0.04 4.05 3.81 4.00 + 0.11 4.19 2.97 2.90 2.76 2.76 - 0.14 3.08 2.28 0.05 0.04 0.05 - 0.01 0.16 0.04 0.07 0.04 0.07 + 0.02 0.20 0.04 0.11 0.06 0.09 + 0.03 0.30 0.05 0.03 0.02 0.02 - 0.01 0.07 0.02 0.03 0.02 0.03 unch 0.00 0.08 0.02 0.11 0.10 0.11 + 0.02 0.20 0.07 0.08 0.06 0.08 + 0.01 0.15 0.05 0.03 0.02 0.02 - 0.01 0.05 0.02 0.11 0.11 0.11 unch 0.00 0.12 0.10 0.20 0.17 0.20 + 0.02 0.20 0.10 0.00 0.00 0.04 unch 0.00 0.08 0.04 0.04 0.03 0.03 - 0.01 0.22 0.03 0.02 0.02 0.02 unch 0.00 0.10 0.02 0.01 0.01 0.01 + 0.00 0.05 0.00 0.46 0.40 0.45 + 0.03 0.78 0.38 0.34 0.28 0.33 + 0.02 0.63 0.28 0.05 0.04 0.05 + 0.01 0.17 0.04 0.11 0.09 0.09 unch 0.00 0.17 0.06 0.07 0.00 0.06 - 0.02 0.15 0.05 0.09 0.00 0.08 - 0.03 0.18 0.08 0.56 0.52 0.52 - 0.02 1.02 0.52 0.41 0.39 0.39 - 0.02 0.82 0.39 0.11 0.11 0.11 unch 0.00 0.38 0.11 0.03 0.03 0.03 unch 0.00 0.08 0.02 0.07 0.06 0.06 - 0.01 0.32 0.06 0.05 0.04 0.04 - 0.00 0.20 0.04 0.08 0.07 0.07 - 0.01 0.19 0.08 0.83 0.83 0.83 unch 0.00 1.48 0.83 1.20 1.15 1.17 + 0.02 1.85 1.05 0.00 0.00 0.00 - 0.00 0.01 0.00 0.20 0.18 0.19 + 0.01 0.31 0.02 0.15 0.13 0.15 + 0.01 0.24 0.03 3.94 3.62 3.64 - 0.22 7.36 3.06 0.09 0.07 0.07 - 0.02 0.10 0.07 0.15 0.08 0.15 + 0.03 0.22 0.06 0.24 0.20 0.23 + 0.01 0.42 0.06 0.14 0.10 0.11 - 0.01 0.23 0.02 0.30 0.00 0.27 - 0.03 0.34 0.14 0.21 0.00 0.18 - 0.08 0.26 0.12 0.15 0.13 0.13 - 0.02 0.28 0.12 0.11 0.10 0.11 - 0.01 0.23 0.09 0.27 0.23 0.26 - 0.01 0.64 0.20 8.22 7.77 7.84 - 0.08 12.10 7.00 11.01 10.40 10.50 - 0.04 15.17 9.27 0.41 0.40 0.41 + 0.00 0.72 0.39 0.56 0.50 0.53 - 0.02 0.92 0.46 2.68 2.42 2.52 - 0.05 3.77 1.60 0.06 0.05 0.05 unch 0.00 0.11 0.04 0.10 0.09 0.10 + 0.01 0.32 0.09 0.07 0.06 0.07 + 0.01 0.25 0.06 6.14 0.00 6.14 + 0.05 8.02 5.90

Pac Arc Res V 50 Pac Bay Mnrls V 67 Pac Booker Min* O 103 Pac Booker Min V 40 Pac Imperial V 262 Pac Iron Ore V 10 Pac Ridge Expl V 33 0 Pac Ridge Expl* O Pac Wildcat* O 473 Pacific Empire V 791 Pacific Rim 390 Pacific Rim* O 30 Pacific Silk* O 24 Pacific Silk V 37 Pacton Gold V 1332 Paladin Energy* O 32 Palamina Corp V 243 Palamina Corp* O 29 Palladon Vent* O 45 Pan Am Silver T 1691 Pan Am Silver* D 5492 Pan Andean Min* O 2 Pan Andean Min V 263 Pan Global Res V 207 Pancontinental V 266 Pancontinental* O 14 Panex Res* O 450 Pangolin Dia V 165 Panoro Mnrls V 104 O 0 PanTerra Gold* Pantheon Vent V 225 Para Resources V 111 Parallel Mng V 436 Parallel Mng * O 48 Paramount Gold* X 323 Paringa Res* O 3 Parlane Res V 134 Pasinex Res 64 Patriot Gold* O 644 Peabody Enrgy* N 5671 Pelangio Expl* O 18 Pelangio Expl V 195 Peloton Mnrls* O 24 Peloton Mnrls 44 PepinNini Lith* O 670 Perseus Mng T 193

0.35 0.35 0.35 unch 0.00 0.82 0.21 0.03 0.03 0.03 - 0.01 0.06 0.02 0.61 0.55 0.55 - 0.04 1.10 0.50 0.83 0.74 0.80 + 0.02 1.35 0.65 0.04 0.02 0.03 + 0.01 0.07 0.02 0.09 0.09 0.09 unch 0.00 0.15 0.03 0.05 0.04 0.05 unch 0.00 0.07 0.04 0.00 0.00 0.03 unch 0.00 0.06 0.03 0.00 0.00 0.00 - 0.00 0.39 0.00 0.08 0.07 0.07 - 0.01 0.20 0.06 0.14 0.12 0.13 - 0.01 1.59 0.10 0.11 0.09 0.09 - 0.01 1.25 0.07 0.00 0.00 0.02 unch 0.00 0.04 0.02 0.02 0.00 0.02 unch 0.00 0.06 0.02 0.39 0.30 0.32 - 0.07 1.02 0.24 0.15 0.10 0.15 + 0.02 0.50 0.01 0.41 0.34 0.39 - 0.01 0.47 0.25 0.31 0.26 0.30 - 0.01 0.37 0.19 0.00 0.00 0.00 - 0.00 0.01 0.00 19.13 18.11 18.80 + 0.38 24.22 16.05 14.30 13.50 14.04 + 0.20 18.75 12.12 0.02 0.02 0.02 unch 0.00 0.08 0.02 0.03 0.03 0.03 - 0.01 0.13 0.03 0.17 0.11 0.17 + 0.06 0.30 0.10 0.08 0.05 0.06 - 0.01 0.09 0.03 0.04 0.04 0.04 unch 0.00 0.07 0.02 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.06 0.04 0.05 - 0.01 0.08 0.04 0.24 0.21 0.21 - 0.02 0.44 0.13 0.00 0.00 0.02 unch 0.00 0.02 0.01 0.09 0.09 0.09 - 0.02 0.15 0.07 0.14 0.13 0.14 + 0.01 0.25 0.12 0.04 0.03 0.03 - 0.01 0.08 0.03 0.03 0.03 0.03 unch 0.00 0.05 0.03 0.95 0.86 0.90 - 0.02 1.64 0.86 0.15 0.14 0.15 + 0.01 0.44 0.12 0.05 0.04 0.04 - 0.01 0.30 0.04 0.10 0.07 0.07 - 0.02 0.22 0.08 0.09 0.06 0.06 - 0.01 0.15 0.04 32.65 29.77 30.48 - 0.49 47.84 29.66 0.13 0.09 0.12 - 0.00 0.18 0.02 0.15 0.13 0.13 - 0.01 0.60 0.12 0.08 0.06 0.06 - 0.02 0.12 0.05 0.10 0.07 0.10 unch 0.00 0.15 0.03 0.01 0.00 0.01 unch 0.00 0.07 0.00 0.35 0.33 0.35 + 0.01 0.50 0.25

P-Q

Week

12-month

Exc Volume High Low Last Change High Low

Pershing Gold* D 559 26 Pershing Gold T Pershing Res* O 64 Peruvian Metal V 355 Peruvian Metal* O 106 Philex Mng* O 33 Philippine Mtl V 25 Pine Cliff En* O 166 Pine Cliff En T 587 Pinecrest Res * O 2 Pinecrest Res V 128 Pistol Bay Mng* O 1050 Pistol Bay Mng V 218 Pivit Explor 58 PJSC Polyus Gd* O 2 PJX Res V 528 Plata Latina V 62 Plate Res V 189 Plateau Energy V 604 Plateau Energy* O 109 Platinex Inc* O 19 Platinex Inc 102 Platinum Gp Mt T 553 Platinum Gp Mt* X 2147 Plato Gold V 65 Playfair Mng V 326 Playfair Mng* O 72 PolyMet Mng* X 1872 PolyMet Mng T 11 Portage Res* O 3418 Portex Mnrls* O 0 Portofino Res V 591 O 130 Potash Ridge* Potash Ridge T 913 Power Metals* O 45 Power Metals V 1017 PowerOre V 151 PPX Mining* O 216 PPX Mining V 499 Precipitate Gl V 564 Precipitate Gl* O 63 Premier Gold M T 2611 Premium Expl* O 3 Pretium Res* N 5996 Pretium Res T 2316 Primary Energy 97 Prism Res V 107 Prize Mng* O 370 Prize Mng V 2428 ProAm Expl V 25 O 202 Probe Metals* Probe Metals V 150 Prog Planet V 1234 Prog Planet* O 5 Promithian Gl * O 0 Prophecy Coal* O 1624 Prophecy Coal T 2855 O 122 Prospector Res* Prospector Res V 530 Prosper Gold V 169 Prospero Silvr V 194 Prospero Silvr* O 77 Provenance Gld 224 Providence V 54 Providence Gld* O 108 PUF Vent Inc * O 4346 Puma Expl V 634 Puma Expl* O 5 Pure Alumina* O 150 Pure Energy* O 1317 577 Pure Energy V Pure Gold Mg* O 555 Pure Gold Mg V 1349 Pure Nickel* O 468 Pure Nickel V 93 V 515 Purepoint Uran Q-Gold Res* O 0 Q-Gold Res V 5 QC Precious V 327 QC Precious * O 8 QMC Quantum Ml V 385 QMC Quantum Ml* O 332 QMX Gold V 423 QMX Gold* O 28 Quadro Res V 59 Quantum Cobalt 270 Quartz Mtn Res V 72 Quartz Mtn Res* O 1 Quaterra Res V 195 Quaterra Res* O 251 Quest Rare Mnl* O 300 Quinto Res V 425

0.90 0.81 0.87 + 0.00 2.72 0.80 1.19 1.11 1.18 + 0.02 3.36 1.06 0.02 0.02 0.02 - 0.00 0.09 0.01 0.05 0.04 0.04 unch 0.00 0.10 0.04 0.03 0.03 0.03 + 0.00 0.08 0.02 0.02 0.02 0.02 unch 0.00 0.15 0.02 0.05 0.00 0.05 - 0.01 0.15 0.05 0.21 0.20 0.20 - 0.02 0.41 0.20 0.30 0.27 0.27 - 0.03 0.59 0.27 0.14 0.14 0.14 unch 0.00 0.25 0.14 0.22 0.18 0.22 + 0.04 0.38 0.18 0.02 0.02 0.02 unch 0.00 0.08 0.02 0.04 0.03 0.03 - 0.01 0.18 0.03 0.14 0.11 0.13 - 0.01 0.19 0.08 37.30 0.00 37.30 + 1.80 45.15 29.00 0.19 0.15 0.19 + 0.03 0.25 0.11 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.05 0.03 0.04 - 0.01 0.10 0.03 0.80 0.65 0.70 - 0.08 1.69 0.55 0.59 0.50 0.52 - 0.07 1.27 0.43 0.04 0.04 0.04 - 0.00 0.23 0.04 0.06 0.04 0.05 - 0.01 0.30 0.04 0.21 0.19 0.21 + 0.01 0.72 0.12 0.16 0.14 0.16 + 0.01 0.58 0.08 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.03 0.02 0.03 unch 0.00 0.09 0.02 0.02 0.02 0.02 - 0.01 0.06 0.01 0.85 0.80 0.82 - 0.00 1.36 0.67 1.12 1.08 1.09 + 0.01 1.66 0.86 0.00 0.00 0.00 - 0.00 0.02 0.00 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.03 0.03 0.03 - 0.01 0.15 0.03 0.04 0.03 0.03 - 0.00 0.13 0.02 0.05 0.04 0.04 + 0.01 0.16 0.03 0.16 0.14 0.15 + 0.00 0.70 0.14 0.21 0.19 0.20 unch 0.00 0.88 0.19 0.06 0.05 0.06 + 0.01 0.45 0.05 0.06 0.06 0.06 + 0.00 0.08 0.05 0.09 0.08 0.08 unch 0.00 0.11 0.06 0.10 0.09 0.10 + 0.02 0.12 0.04 0.08 0.07 0.08 + 0.01 0.09 0.03 1.69 1.48 1.49 - 0.07 3.94 1.39 0.00 0.00 0.00 - 0.00 0.02 0.00 7.70 7.09 7.42 + 0.03 11.90 6.17 10.28 9.52 9.95 + 0.09 14.94 7.93 0.04 0.03 0.03 unch 0.00 0.15 0.03 0.04 0.04 0.04 - 0.01 0.15 0.03 0.04 0.03 0.03 + 0.00 0.33 0.03 0.05 0.04 0.05 unch 0.00 0.42 0.04 0.03 0.03 0.03 - 0.01 0.04 0.02 0.75 0.69 0.71 - 0.07 1.23 0.68 0.99 0.92 0.95 - 0.08 1.55 0.91 0.05 0.04 0.04 - 0.01 0.20 0.04 0.04 0.04 0.04 unch 0.00 0.15 0.03 0.00 0.00 0.05 unch 0.00 0.10 0.01 0.27 0.22 0.23 - 0.04 3.65 0.09 0.37 0.30 0.30 - 0.05 0.74 0.11 0.36 0.35 0.36 unch 0.00 0.81 0.35 0.52 0.43 0.45 - 0.05 1.15 0.43 0.11 0.09 0.10 unch 0.00 0.15 0.06 0.07 0.06 0.07 + 0.01 0.15 0.06 0.05 0.05 0.05 + 0.00 0.12 0.05 0.25 0.16 0.25 + 0.09 0.39 0.12 0.13 0.11 0.12 - 0.02 0.19 0.09 0.00 0.00 0.10 unch 0.00 0.15 0.08 0.17 0.11 0.16 + 0.05 0.37 0.06 0.05 0.00 0.04 unch 0.00 0.11 0.04 0.00 0.00 0.04 unch 0.00 0.08 0.03 0.04 0.04 0.04 unch 0.00 0.15 0.03 0.05 0.04 0.04 - 0.00 0.50 0.04 0.07 0.06 0.06 - 0.01 0.45 0.06 0.49 0.45 0.45 - 0.00 0.56 0.36 0.64 0.59 0.59 - 0.01 0.71 0.47 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.02 0.00 0.02 unch 0.00 0.05 0.01 0.07 0.07 0.07 + 0.01 0.10 0.06 0.15 0.15 0.15 unch 0.00 0.17 0.07 0.23 0.23 0.23 + 0.04 0.30 0.10 0.32 0.28 0.31 + 0.02 0.60 0.25 0.21 0.21 0.21 - 0.00 0.33 0.20 0.28 0.23 0.25 unch 0.00 1.25 0.23 0.20 0.17 0.18 - 0.01 0.97 0.17 0.07 0.06 0.06 - 0.01 0.32 0.05 0.04 0.04 0.04 unch 0.00 0.25 0.03 0.04 0.04 0.04 unch 0.00 0.13 0.04 0.07 0.05 0.05 - 0.01 1.78 0.05 0.34 0.30 0.30 - 0.04 1.50 0.30 0.31 0.00 0.31 unch 0.00 1.20 0.00 0.07 0.06 0.06 - 0.01 0.09 0.05 0.05 0.04 0.05 + 0.00 0.07 0.03 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.04 0.00 0.04 + 0.02 0.14 0.02

Rackla Mtls* O 0 Rackla Mtls V 54 Radisson Mng V 225 Radius Gold V 493 O 66 Rainforest Res* Rainy Mtn Royl V 745 25 Rainy Mtn Royl* O Rambler Ml &Mg V 76 Randgold Res* O 1 Randgold Res* D 5535 Randsburg Int* O 300 Rare Element* O 358 Rathdowney Res V 93 Ravencrest Res 922 Razore Rock Res 12 RB Energy* O 317 Red Eagle Mng* O 142 Red Moon Res V 3 Red Pine Expl V 1235 Redstar Gold V 52 Redstar Gold* O 342 Redzone Res V 242 Redzone Res* O 213 Regal Res* O 35 Regency Gold V 41 Regulus Res V 146 Remington Res V 129 Renaissance Gd* O 70 Renaissance Gd V 143 Renforth Res 186 Resolve Vent V 42 Resource Cap V 693 Resource Cap* O 76 Reunion Gold V 3556 Revelo Res V 4282 Revival Gold * O 59 Revival Gold V 233 Richmond Mnls V 284 Ridgestone M’g V 80 Rift Valley 788 Riley Resource V 60 Rimrock Gold* O 58266 Rio Tinto* O 1 Rio Tinto* N 15522 Rio Tinto* O 5 Rise Gold Corp 5214 Rise Gold Corp* O 3006 River Wild Exp 31 Riverside Res* O 88 Riverside Res V 233 Rizal Res V 65 RJK Explor V 859 RJK Explor* O 3 Robex Res V 91 Rochester Res V 10 Rochester Res* O 2 1 Rock Tech Lith* O Rock Tech Lith V 22 Rockcliff Met V 372 Rockcliff Met* O 33 Rockex Mng 100 Rockhaven Res V 1751 Rockshield Cap 81 Rockshield Cap* O 46 Rockwealth Res V 20 Rockwell Diam* O 10 Rodinia Lithm V 56 Rogue Res* O 10 Rogue Res V 35 Rojo Res* O 1 Rokmaster Res V 182 Romios Gold Rs V 51 Romios Gold Rs* O 233 RosCan Gold V 1172 Rosita Mg Corp V 34 Ross River* O 8 Rotation Mnls V 341 Roughrider Exp V 3 Rover Metals V 497

0.08 0.00 0.08 unch 0.00 0.11 0.07 0.11 0.11 0.11 - 0.01 0.15 0.06 0.11 0.10 0.10 - 0.01 0.24 0.09 0.14 0.10 0.11 - 0.03 0.19 0.09 7.25 0.00 5.11 - 2.14 9.45 3.50 0.03 0.00 0.03 unch 0.00 0.10 0.02 0.01 0.01 0.01 unch 0.00 0.08 0.01 0.05 0.03 0.03 - 0.01 0.17 0.03 87.65 87.40 87.65 + 2.61 101.90 62.16 88.70 85.33 85.72 + 0.05 104.05 59.90 0.03 0.03 0.03 unch 0.00 0.05 0.00 0.09 0.08 0.09 - 0.00 0.26 0.08 0.10 0.08 0.10 + 0.02 0.21 0.04 0.58 0.48 0.49 - 0.04 1.93 0.38 0.07 0.07 0.07 unch 0.00 0.27 0.06 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 0.02 unch 0.00 0.29 0.01 0.07 0.00 0.07 - 0.03 0.16 0.05 0.04 0.04 0.04 - 0.01 0.11 0.04 0.03 0.03 0.03 unch 0.00 0.07 0.03 0.02 0.02 0.02 - 0.00 0.06 0.01 0.10 0.08 0.09 unch 0.00 0.75 0.08 0.07 0.06 0.07 + 0.01 0.57 0.06 0.00 0.00 0.00 unch 0.00 0.09 0.00 0.21 0.00 0.20 - 0.03 0.28 0.14 1.40 1.30 1.33 - 0.02 2.35 1.30 0.20 0.20 0.20 unch 0.00 0.48 0.20 0.14 0.13 0.13 - 0.00 0.27 0.12 0.20 0.18 0.18 - 0.02 0.33 0.16 0.04 0.03 0.04 + 0.01 0.06 0.02 0.12 0.00 0.10 - 0.01 0.72 0.07 0.02 0.02 0.02 - 0.01 0.13 0.01 0.01 0.01 0.01 + 0.00 0.11 0.01 0.21 0.16 0.17 - 0.02 0.23 0.11 0.02 0.00 0.01 unch 0.00 0.06 0.01 0.50 0.42 0.50 + 0.04 0.73 0.42 0.67 0.59 0.67 + 0.05 0.99 0.54 0.03 0.03 0.03 unch 0.00 0.07 0.02 0.30 0.27 0.27 - 0.03 0.32 0.19 0.09 0.07 0.09 + 0.01 0.14 0.05 0.18 0.18 0.18 unch 0.00 0.41 0.10 0.00 0.00 0.00 unch 0.00 0.00 0.00 52.81 51.75 51.75 - 1.06 65.30 50.48 48.02 44.62 46.68 + 0.71 60.72 44.62 46.55 43.47 46.30 + 0.85 60.00 43.47 0.11 0.08 0.09 - 0.01 0.21 0.05 0.08 0.06 0.07 + 0.00 0.17 0.04 0.57 0.00 0.57 - 0.13 0.70 0.02 0.12 0.10 0.11 + 0.00 0.42 0.10 0.15 0.14 0.14 + 0.01 0.36 0.13 0.02 0.02 0.02 unch 0.00 0.06 0.01 0.07 0.05 0.06 - 0.01 0.23 0.05 0.03 0.03 0.03 unch 0.00 0.13 0.00 0.09 0.08 0.09 unch 0.00 0.12 0.07 0.03 0.03 0.03 unch 0.00 0.09 0.03 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.71 0.71 0.71 unch 0.00 1.50 0.67 0.98 0.95 0.95 - 0.03 1.88 0.84 0.11 0.09 0.11 - 0.01 0.21 0.08 0.07 0.07 0.07 unch 0.00 0.11 0.07 0.06 0.06 0.06 unch 0.00 0.10 0.02 0.15 0.09 0.14 + 0.05 0.18 0.09 0.11 0.10 0.10 - 0.01 0.84 0.10 0.09 0.07 0.08 - 0.01 0.67 0.07 0.12 0.12 0.12 unch 0.00 0.30 0.11 0.00 0.00 0.00 - 0.00 0.00 0.00 0.07 0.06 0.07 + 0.01 0.46 0.05 0.08 0.08 0.08 unch 0.00 0.43 0.08 0.12 0.00 0.12 unch 0.00 0.53 0.10 0.00 0.00 0.00 unch 0.00 0.31 0.00 0.08 0.06 0.08 + 0.01 0.18 0.06 0.05 0.05 0.05 - 0.01 0.09 0.05 0.04 0.04 0.04 unch 0.00 0.07 0.03 0.08 0.05 0.07 - 0.02 0.11 0.05 0.03 0.03 0.03 - 0.01 0.12 0.03 0.07 0.07 0.07 unch 0.00 0.14 0.00 0.09 0.08 0.08 + 0.01 0.40 0.07 0.11 0.11 0.11 unch 0.00 0.30 0.11 0.04 0.03 0.03 - 0.01 0.11 0.03

R

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

T 1760 Roxgold Roxgold* O 259 Royal Gold* D 2507 5 Royal Mines &M* O 13200 Royal Nickel T Royal Nickel* O 1560 708 Royal Rd Mnrls V Royal Std Mnrl* O 4772 RT Minerals V 5 RT Minerals* O 4 RTG Mining T 16 O 101 Rubicon Mnrls* T 58 Rubicon Mnrls Rugby Mng V 87 Running Fox Rs* O 103 166 Running Fox Rs V Rupert Res V 156 Rusoro Mng* O 158 Rusoro Mng V 2231

0.81 0.75 0.78 - 0.02 1.44 0.75 0.56 0.60 0.56 0.57 - 0.01 1.13 70.16 80.00 75.43 76.62 - 1.82 98.53 0.01 0.01 0.01 + 0.00 0.01 0.00 0.07 unch 0.00 1.18 0.57 0.49 0.52 0.05 0.42 0.37 0.38 - 0.01 0.90 0.08 0.06 0.07 - 0.01 0.18 0.06 0.03 0.00 0.01 - 0.02 0.08 0.00 0.05 0.06 0.06 0.06 + 0.01 0.90 0.00 unch 0.00 0.13 0.04 0.04 0.04 0.09 0.12 0.11 0.11 - 0.01 0.32 0.81 0.92 0.85 0.89 - 0.02 1.47 1.05 1.20 1.13 1.17 - 0.04 1.88 0.14 unch 0.00 0.43 0.17 0.15 0.15 0.01 0.01 0.01 - 0.00 0.03 0.01 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.70 0.90 0.85 0.89 - 0.01 1.46 0.05 0.11 0.09 0.10 - 0.01 0.32 0.06 0.16 0.12 0.12 - 0.02 0.42

T 2135 Sabina Gd&Slvr O 528 Sabina Gd&Slvr* Sable Res* O 101 Sable Res V 608 Sage Gold* O 146 Sailfish Rylty V 93 Saint Jean* O 13 Saint Jean V 173 Salazar Res* O 72 Salazar Res V 28 30 Salt Lake Pot* O Sama Res V 1183 Sama Res* O 13 Samco Gold V 805 Samex Mng* O 32 22 San Gold Corp* O 45 San Marco Res* O 82 San Marco Res V V 972 Sanatana Diam Sandfire Res V 92 Sandfire Res* O 195 O 105 Sandspring Res* V 713 Sandspring Res T 2011 Sandstorm Gold X 4582 Sandstorm Gold* Santa Fe Gold* O 246 V 199 Santacruz Silv Sarama Res V 73 Sarissa Res* O 3218 Satori Res V 116 Satori Res* O 7 Saturn Mnrls V 2074 Savary Gold V 860 Saville Res V 828 466 Scandium Intl T O 303 Scandium Intl* Scorpio Gold V 799 ScoZinc Mg V 6 ScoZinc Mg* O 0 Seabridge Gld T 352 Seabridge Gld* N 1522 Seafield Res* O 125 Search Mnls V 202 Searchlight* O 12 O 974 SearchlightMin* V 321 SearchlightRes Secova Mtls V 1921 Secova Mtls* O 25 Sego Res V 101 Select Sands V 300 T 2741 Semafo Serabi Gold T 5 Serengeti Res V 386 Shamrock Ent 313 O 21 Shear Diamonds* Sherritt Intl T 8813 V 196 Shoshoni Gold N 8510 Sibanye-Stillw* O 1 Sibanye-Stillw* O 1 Sidney Resrces* Sienna Res* O 16 Sienna Res V 295 Sierra Metals* X 189 Sierra Metals T 73 V 311 Sigma Lithium O 637 Signature Res* Signature Res V 681 188 Silver Bear Rs T 38 Silver Bear Rs* O Silver Bull Re* O 763 279 Silver Bull Re T Silver Grail V 1255 Silver Hill* O 1 Silver Mtn Mns* O 330 200 Silver Mtn Mns V Silver Phoenix 45 O 3 Silver Predatr* Silver Predatr V 19 Silver Range* O 21 Silver Range V 113 Silver Scott* O 278 O 2 Silver Spruce* Silver Spruce V 628 O 0 Silver Stream* Silver Viper V 56 T 735 Silvercorp Met X 1337 Silvercorp Met* X 330 SilverCrest Mt* SilverCrest Mt V 479 O 80 Silverstar Res* Sirios Res V 300 Sitka Gold 415 Skeena Res V 531 Skeena Res* O 86 O 303 Skyharbour Res* V 398 Skyharbour Res Slam Explor V 548 109 Slave Lake Zn V 937 Sojourn Explor O 34 Sojourn Explor* 15388 Sokoman Iron V O 385 Sokoman Iron* SolGold plc T 96 SolGold plc* O 81 T 62 Solitario Ex&R X 369 Solitario Ex&R* Solstice Gold V 51 427 Sonora Gld & S V Sonoro Mtls* O 15 Sonoro Mtls V 736 South32* O 3 Southern Arc* O 57 Southern Arc V 46 N 4079 Southern Copp* O 83 Southern Silvr* Southern Silvr V 44 T 17 SouthGobi Res 680 Spanish Mtn Gd V Spanish Mtn Gd* O 453 Sparton Res V 772 Sparton Res* O 74 O 277 Spearmint Res* Spearmint Res 3907 Spey Resources 442 Sphinx Res V 912 124 Sprott Res Hld T 101 Spruce Ridge R V SRG Graphite V 162 SSR Mining* D 3965 SSR Mining T 1639 St Augustine T 473 36 St Elias Mns* O O 64 St-Georges Eco* St-Georges Eco 503 O 10 Stakeholdr Gld* V 125 Stakeholdr Gld O 2944 Standard Graph* Standard Lith V 506 O 6 Standard Metal* Stans Energy V 275 O 171 Stans Energy* O 154 Star Diamond* Star Diamond T 844 Star Gold* O 68 O 15 Star Mountain* Starcore Intl T 109 130 Starr Peak Exp V Stellar Africa V 371 Stelmine Can V 31 Steppe Gold T 128 Sterling Grp* O 2 T 1231 Stornoway Diam

1.11 1.45 1.20 1.22 - 0.14 2.62 0.85 1.08 0.89 0.91 - 0.12 2.00 0.12 0.16 0.13 0.14 - 0.01 0.28 0.14 unch 0.00 0.37 0.22 0.19 0.20 0.00 0.00 0.00 0.00 - 0.00 0.13 0.70 0.95 0.77 0.93 - 0.02 3.07 0.01 unch 0.00 0.05 0.02 0.00 0.02 0.02 unch 0.00 0.24 0.03 0.02 0.03 0.07 0.08 0.08 0.08 + 0.00 0.12 0.10 0.11 0.11 0.11 + 0.01 0.18 0.36 0.34 0.36 + 0.02 0.47 0.32 0.22 0.30 0.22 0.30 + 0.04 0.50 0.17 0.20 0.17 0.19 - 0.01 0.41 0.02 unch 0.00 0.11 0.02 0.02 0.02 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 - 0.00 0.01 0.00 0.10 0.08 0.10 + 0.00 0.23 0.08 0.12 0.11 0.12 + 0.01 0.30 0.10 0.02 unch 0.00 0.07 0.05 0.04 0.04 0.06 0.09 0.08 0.08 - 0.01 0.11 0.05 0.06 0.06 0.06 - 0.00 0.10 0.13 0.16 0.14 0.15 - 0.00 0.32 0.17 unch 0.00 0.40 0.21 0.19 0.20 4.60 5.95 5.71 5.82 + 0.05 6.95 3.48 4.46 4.25 4.36 + 0.02 5.64 0.08 0.05 0.07 - 0.00 0.20 0.04 0.07 0.08 0.07 0.07 - 0.01 0.17 0.06 0.07 0.06 0.06 - 0.01 0.15 0.00 0.00 0.00 0.00 - 0.00 0.00 0.05 0.05 0.00 0.05 - 0.01 0.15 0.03 0.04 0.03 0.03 - 0.01 0.11 0.11 0.22 0.18 0.20 + 0.01 0.30 0.04 0.05 0.04 0.05 + 0.01 0.08 0.04 0.05 0.04 0.04 - 0.01 0.12 0.25 0.20 0.23 + 0.01 0.32 0.13 0.11 0.18 0.15 0.16 - 0.01 0.24 0.01 0.02 0.01 0.01 - 0.01 0.04 0.56 0.56 0.56 0.56 - 0.03 1.53 0.53 unch 0.00 1.23 0.00 0.00 0.53 12.89 16.29 15.26 15.45 - 0.44 19.84 10.10 12.21 11.38 11.55 - 0.37 15.30 0.00 0.00 0.00 0.00 - 0.00 0.03 0.03 unch 0.00 0.09 0.04 0.03 0.04 0.01 0.03 0.02 0.02 - 0.01 0.16 0.01 0.02 0.01 0.01 + 0.00 0.05 0.03 0.05 0.03 0.03 - 0.01 0.23 0.02 unch 0.00 0.30 0.03 0.02 0.03 0.01 0.02 0.01 0.02 - 0.01 0.10 0.03 0.04 0.03 0.04 + 0.01 0.09 0.08 0.09 0.08 0.08 - 0.01 0.60 2.24 2.66 2.45 2.62 + 0.12 4.14 0.49 0.51 0.51 0.51 - 0.02 1.60 0.12 0.20 0.17 0.17 - 0.02 0.60 0.02 0.03 0.03 0.03 + 0.01 0.08 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.42 0.47 0.42 0.43 - 0.05 1.87 0.04 0.05 0.04 0.04 - 0.01 0.08 2.02 2.88 2.59 2.80 + 0.01 5.29 0.53 unch 0.00 1.24 0.53 0.53 0.53 0.00 0.00 0.00 0.00 - 0.00 0.01 0.03 unch 0.00 0.32 0.04 0.04 0.04 0.04 0.05 0.05 0.05 - 0.01 0.39 2.13 2.38 2.09 2.18 - 0.07 3.00 2.68 3.19 2.82 2.88 - 0.10 3.85 1.20 unch 0.00 2.40 2.09 1.97 2.05 0.04 0.06 0.05 0.06 + 0.00 0.11 0.05 0.10 0.06 0.10 + 0.03 0.14 0.17 0.16 0.17 + 0.01 0.32 0.16 0.12 0.00 0.11 - 0.01 0.26 0.10 0.12 0.09 0.10 - 0.01 0.23 0.09 0.13 0.12 0.13 - 0.01 0.29 0.11 0.03 0.04 0.03 0.03 - 0.01 0.10 0.11 0.12 0.00 0.12 - 0.00 0.25 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.01 0.03 0.00 0.02 0.02 0.02 unch 0.02 unch 0.00 0.22 0.09 0.09 0.09 0.05 unch 0.00 0.14 0.05 0.05 0.05 0.07 unch 0.00 0.17 0.08 0.07 0.08 0.06 0.09 0.06 0.06 - 0.02 0.15 0.08 0.11 0.08 0.09 - 0.02 0.19 0.01 0.03 0.03 0.03 - 0.04 0.24 0.01 unch 0.00 0.06 0.01 0.01 0.01 0.02 0.03 0.02 0.02 - 0.01 0.08 0.04 unch 0.00 6.96 7.00 7.00 7.00 0.07 unch 0.00 0.25 0.08 0.08 0.08 2.43 2.83 2.58 2.69 + 0.01 4.02 1.83 2.12 1.92 2.02 + 0.01 3.12 1.14 2.49 2.37 2.42 + 0.17 3.07 1.47 3.31 3.19 3.24 - 0.04 3.80 0.02 0.09 0.00 0.06 + 0.01 1.49 0.13 0.14 0.13 0.14 - 0.01 0.34 0.04 0.09 0.04 0.06 - 0.03 0.30 0.29 0.31 0.29 0.31 + 0.01 0.80 0.21 0.23 0.21 0.23 - 0.01 0.66 0.28 0.31 0.29 0.30 + 0.00 0.44 0.35 0.41 0.39 0.40 - 0.01 0.57 0.02 unch 0.00 0.07 0.03 0.02 0.02 0.10 0.06 0.06 - 0.02 0.11 0.06 0.07 0.15 0.10 0.12 - 0.01 0.29 0.08 0.09 0.08 0.09 + 0.00 0.21 0.03 0.22 0.15 0.15 - 0.03 0.58 0.00 0.15 0.11 0.11 - 0.03 0.45 0.32 unch 0.00 0.71 0.63 0.62 0.63 0.27 0.49 0.44 0.47 + 0.01 0.58 0.36 0.40 0.35 0.36 - 0.02 0.88 0.27 0.30 0.26 0.27 - 0.02 0.71 0.12 0.16 0.14 0.14 + 0.01 0.38 0.06 0.05 0.05 - 0.01 0.20 0.05 0.07 0.11 0.11 0.11 - 0.00 0.16 0.07 0.15 0.13 0.14 - 0.01 0.20 2.16 2.30 2.16 2.28 + 0.06 3.10 0.20 0.28 0.25 0.28 + 0.03 0.57 0.27 0.45 0.33 0.38 + 0.03 0.71 31.17 33.30 31.11 31.70 - 0.98 58.09 0.08 0.14 0.12 0.13 - 0.01 0.31 0.11 0.19 0.00 0.17 - 0.03 0.38 0.10 0.15 0.11 0.14 + 0.03 0.25 0.07 0.06 0.07 + 0.02 0.14 0.05 0.06 0.04 0.05 + 0.01 0.12 0.03 0.04 0.06 0.05 0.06 + 0.01 0.12 0.03 0.05 0.03 0.04 - 0.01 0.09 0.00 0.03 0.02 0.02 + 0.00 0.11 0.02 unch 0.00 0.14 0.04 0.04 0.04 0.07 unch 0.00 0.16 0.08 0.07 0.07 0.04 unch 0.00 0.08 0.04 0.04 0.04 1.21 1.12 1.21 + 0.02 3.40 1.12 0.05 0.05 0.05 unch 0.00 0.06 0.02 0.64 0.79 0.70 0.74 - 0.05 2.25 11.78 10.85 11.49 + 0.49 11.78 7.64 15.75 14.57 15.38 + 0.72 15.75 9.66 0.02 unch 0.00 0.04 0.02 0.02 0.02 0.00 0.00 0.00 + 0.00 0.00 0.00 0.03 0.04 0.04 0.04 + 0.00 2.20 0.04 unch 0.00 2.90 0.07 0.06 0.07 0.04 unch 0.00 0.45 0.07 0.07 0.07 0.06 0.07 0.06 0.06 - 0.01 0.64 0.22 0.49 0.33 0.38 + 0.04 1.13 0.80 1.12 0.90 0.90 - 0.20 2.61 0.02 unch 0.00 0.23 0.07 0.07 0.07 0.02 unch 0.00 0.05 0.02 0.02 0.02 0.01 0.02 0.01 0.02 + 0.00 0.04 0.12 0.18 0.16 0.18 + 0.01 0.29 0.15 0.27 0.22 0.23 + 0.01 0.38 0.02 0.06 0.05 0.05 - 0.01 0.10 0.01 unch 0.00 0.04 0.02 0.02 0.02 0.09 0.10 0.00 0.10 - 0.01 0.30 0.18 0.11 0.18 + 0.03 0.19 0.09 0.01 0.02 0.01 0.02 + 0.01 0.07 0.10 0.14 0.11 0.12 - 0.02 0.45 0.61 0.84 0.61 0.75 - 0.01 2.01 0.03 0.03 0.00 0.03 - 0.02 0.10 0.19 unch 0.00 0.68 0.21 0.20 0.20

S

2018-12-17 1:25 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / DECEMBER 24, 2018–JANUARY 6, 2019

Week

12-month

Exc Volume High Low Last Change High Low

Stornoway Diam* O 12 Stratabd Mnr V 500 Strateco Res* O 75 Strategic Metl V 57 O 111 Strategic Metl* Strategic Res V 76 Strategic Res* O 1 Stria Lithium V 182 Strikepoint Gd V 146 Strikepoint Gd* O 17 Strongbow Expl V 265 Strongbow Expl* O 23 Stroud Res V 279 Sulliden Mng T 1337 Sun Metals V 696 Suncor Energy T 18923 Suncor Energy* N 24023 Sunvest Mnrls V 1748 Superior Gold* O 2 Superior Gold V 39 Superior Mng V 52 Supreme Metals 98 Surge Copper V 61 Surge Explor* O 104 Surge Explor V 110 Sutter Gold* O 101 Sutter Gold V 43 Syrah Res* O 47

0.15 0.00 0.14 + 0.00 0.54 0.14 0.03 0.03 0.03 - 0.01 0.08 0.02 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.36 0.00 0.33 - 0.03 0.52 0.31 0.27 0.24 0.24 - 0.02 0.43 0.22 0.30 0.23 0.23 - 0.03 0.30 0.16 0.22 0.22 0.22 + 0.03 0.22 0.12 0.03 0.02 0.03 unch 0.00 0.08 0.02 0.15 0.14 0.14 - 0.02 0.29 0.14 0.12 0.10 0.10 - 0.02 0.23 0.11 0.16 0.13 0.14 - 0.03 0.28 0.10 0.13 0.11 0.11 - 0.02 0.22 0.09 0.01 0.01 0.01 - 0.01 0.03 0.01 0.13 0.10 0.13 + 0.02 0.65 0.10 0.30 0.24 0.26 - 0.02 0.40 0.12 42.77 39.28 39.62 - 2.26 55.47 40.49 31.92 29.35 29.59 - 1.92 42.55 30.35 0.04 0.03 0.03 - 0.01 0.14 0.03 0.61 0.60 0.61 + 0.01 1.28 0.50 0.85 0.79 0.80 - 0.01 1.62 0.67 0.10 0.06 0.10 unch 0.00 0.10 0.04 0.02 0.02 0.02 unch 0.00 0.08 0.02 0.07 0.05 0.06 + 0.01 0.26 0.04 0.07 0.04 0.05 + 0.01 0.36 0.04 0.07 0.06 0.06 - 0.01 0.28 0.06 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.02 0.00 0.02 unch 0.00 0.03 0.01 1.29 1.10 1.24 + 0.15 3.85 0.97

Tahoe Res* N 11655 Tahoe Res T 2514 Taiga Gold 128 Taiga Gold* O 41 Taku Gold 90 Taku Gold* O 40 Talmora Diamd 125 Talon Metals T 66 Tamerlane Vent* O 359 O 64345 Tamino Mnrls* Tanager Energy V 24 Tango Mining V 389 Tanqueray Expl V 339 Tantalex Res 478 Tanzania Rlty* X 334 Tanzania Rlty T 35 Taranis Res V 59 Tarku Res V 287 Tartisan Nick* O 1146 Tartisan Nick 1000 Tasca Res V 503 Taseko Mines T 587 Taseko Mines* X 1680 Tearlach Res V 364 Teck Res T 9867 Teck Res T 22 Teck Res* N 15260 Telson Res * O 120 Telson Res V 152 Tembo Gold V 84 Tembo Gold* O 240 Teranga Gold T 684 Teranga Gold* O 53 Teras Res V 144 Teras Res* O 21 Terraco Gold V 314 Terrax Mnrls* O 24 Terrax Mnrls V 179 Terreno Res V 45 746 Teslin Rvr Res V Tesoro Mnrls V 6 Tethyan Res V 300 Teuton Res V 176 Teuton Res* O 16 Texas Mineral* O 131 Themac Res V 0 Thor Expl V 63 Thunder Mtn Gd* O 344 Thunderstruck V 230 Thunderstruck* O 29 Till Capital V 3 Timberline Res V 17 Timberline Res* O 49 Timmins Gold T 284 Timmins Gold* X 570 Tinka Res V 299

3.71 3.47 3.62 + 0.05 5.63 2.18 4.95 4.64 4.84 + 0.08 7.27 2.88 0.08 0.07 0.08 + 0.01 0.21 0.07 0.06 0.05 0.05 - 0.01 0.16 0.05 0.04 0.04 0.04 - 0.01 0.15 0.04 0.03 0.03 0.03 unch 0.00 0.12 0.02 0.02 0.02 0.02 unch 0.00 0.06 0.01 0.11 0.10 0.10 - 0.01 0.12 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.05 0.04 0.05 - 0.01 0.14 0.04 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.70 0.65 0.67 + 0.02 1.32 0.33 0.05 0.04 0.04 unch 0.00 0.25 0.04 0.38 0.35 0.36 + 0.01 0.68 0.24 0.50 0.47 0.49 + 0.03 0.89 0.31 0.10 0.08 0.08 - 0.02 0.12 0.06 0.04 0.03 0.04 + 0.01 0.06 0.02 0.04 0.04 0.04 unch 0.00 0.09 0.04 0.07 0.05 0.06 - 0.01 0.16 0.02 0.06 0.05 0.05 - 0.01 0.41 0.04 0.86 0.73 0.73 - 0.08 2.98 0.75 0.65 0.54 0.55 - 0.07 2.38 0.56 0.04 0.04 0.04 unch 0.00 0.04 0.03 30.44 27.50 29.76 + 1.21 39.08 23.90 30.31 27.79 30.03 + 1.03 39.00 23.89 22.81 20.52 22.26 + 0.81 30.80 18.17 0.31 0.25 0.31 + 0.04 0.74 0.25 0.44 0.38 0.41 + 0.03 1.00 0.35 0.02 0.00 0.02 + 0.01 0.04 0.02 0.02 0.01 0.02 + 0.00 0.03 0.01 3.79 3.39 3.58 + 0.15 5.63 2.65 2.84 2.49 2.68 + 0.11 4.33 1.83 0.06 0.05 0.05 - 0.01 0.12 0.04 0.04 0.04 0.04 unch 0.00 0.09 0.03 0.08 0.07 0.07 - 0.02 0.10 0.07 0.30 0.26 0.26 - 0.04 0.47 0.25 0.40 0.36 0.36 - 0.05 0.58 0.33 0.04 0.03 0.03 unch 0.00 0.18 0.03 0.51 0.46 0.46 - 0.02 0.62 0.33 0.05 0.00 0.05 - 0.01 0.12 0.05 0.22 0.14 0.16 + 0.02 0.39 0.14 0.14 0.13 0.13 unch 0.00 0.25 0.11 0.09 0.00 0.09 - 0.01 0.19 0.09 0.25 0.22 0.24 unch 0.00 0.35 0.10 0.00 0.00 0.04 unch 0.00 0.10 0.04 0.17 0.17 0.17 unch 0.00 0.22 0.09 0.09 0.04 0.09 - 0.01 0.22 0.04 0.07 0.06 0.07 unch 0.00 0.12 0.04 0.07 0.05 0.05 - 0.01 0.15 0.03 1.99 1.89 1.89 - 0.11 5.60 1.89 0.09 0.07 0.09 + 0.02 0.31 0.07 0.07 0.05 0.06 - 0.00 0.25 0.00 0.98 0.89 0.90 - 0.08 4.92 0.81 0.74 0.67 0.68 - 0.05 3.93 0.63 0.33 0.31 0.33 + 0.01 0.78 0.29

T

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Tinka Res* O 92 Tintina Mines V 19 Tisdale Res* O 0 Tisdale Res V 53 Titan Mining T 57 Titan Mining* O 40 Titanium Corp V 78 TMAC Resource* O 2 TMAC Resources T 364 TNR Gold V 305 Toachi Mg Inc V 136 Tolima Gold V 1725 TomaGold V 283 Tombstone Expl* O 507 Tonogold Res* O 30 Torex Gold* O 78 Torex Gold T 2248 Torq Resources V 94 Torq Resources* O 41 Tower Res V 315 Transatlantic V 66 Transition Met V 206 Treasury Metal T 296 Treasury Metal* O 19 Trecora Res* N 447 Tres-Or Res V 158 Trevali Mng* O 406 Trevali Mng T 5340 Tri Origin Exp V 694 Trident Gold V 5 Trifecta Gold* O 43 Trifecta Gold V 49 Trigen Res* O 43 Trilogy Mtls T 108 Trilogy Mtls* X 1184 TriMetals Mng* O 238 TriMetals Mng* O 107 TriMetals Mng T 590 Trinity Res* O 0 Trinity Valley V 40 Trio Resources* O 998 TriStar Gold* O 67 TriStar Gold V 490 Triumph Gold V 223 O 56 Triumph Gold* Troilus Gold T 3259 Troilus Gold* O 6 V 114 Troubadour Res Troy Enrgy V 100 Troy Res* O 11 Troymet Expl V 1629 True Grit Res V 122 706 True North Gem V True North Gem* O 3 Trueclaim Expl V 25 O 0 Trueclaim Expl* Tsodilo Res V 297 Tudor Gold * O 8 Tudor Gold V 47 Tundra Gold* O 3 Turquoise HIl T 5106 Turquoise HIl* N 23384 TVI Pacific* O 500 TVI Pacific V 1332 Typhoon Expl V 179

0.25 0.23 0.23 - 0.01 0.63 0.22 0.05 0.02 0.04 - 0.01 0.10 0.05 0.00 0.00 0.06 unch 0.00 0.31 0.05 0.24 0.20 0.20 - 0.04 1.60 0.16 1.07 0.96 1.07 + 0.12 1.65 0.89 0.72 0.71 0.71 - 0.01 1.05 0.70 0.60 0.48 0.49 - 0.10 1.44 0.49 4.89 0.00 4.87 + 0.17 9.24 3.07 6.73 6.06 6.58 + 0.29 11.50 3.95 0.04 0.03 0.03 - 0.01 0.09 0.03 0.09 0.00 0.09 unch 0.00 0.29 0.07 0.01 0.01 0.01 unch 0.00 0.06 0.01 0.05 0.05 0.05 - 0.01 0.09 0.04 0.00 0.00 0.00 + 0.00 0.01 0.00 0.10 0.06 0.10 + 0.04 0.40 0.00 9.03 8.62 8.76 - 0.20 11.80 5.73 12.09 11.38 11.69 - 0.11 14.58 7.29 0.39 0.36 0.36 unch 0.00 0.70 0.32 0.30 0.27 0.29 + 0.00 1.10 0.25 0.02 0.00 0.02 - 0.01 0.17 0.02 0.05 0.04 0.04 - 0.01 0.08 0.03 0.09 0.00 0.09 unch 0.00 0.20 0.09 0.27 0.26 0.26 + 0.02 0.67 0.21 0.19 0.00 0.19 - 0.00 0.65 0.16 8.57 8.05 8.21 - 0.17 15.60 7.94 0.03 0.02 0.03 + 0.01 0.06 0.02 0.33 0.31 0.32 - 0.02 1.37 0.31 0.45 0.41 0.42 - 0.02 1.75 0.41 0.02 0.00 0.02 + 0.01 0.04 0.02 0.14 0.14 0.14 unch 0.00 0.22 0.14 0.04 0.04 0.04 + 0.00 0.10 0.04 0.06 0.06 0.06 unch 0.00 0.13 0.05 0.25 0.21 0.21 - 0.02 1.01 0.19 2.93 2.46 2.46 - 0.46 3.00 1.05 2.20 1.84 1.84 - 0.38 2.34 0.81 0.03 0.02 0.03 + 0.00 0.18 0.02 0.07 0.06 0.06 + 0.00 0.23 0.05 0.05 0.04 0.04 + 0.01 0.23 0.03 0.00 0.00 0.02 unch 0.00 0.20 0.01 0.04 0.04 0.04 unch 0.00 0.16 0.04 0.00 0.00 0.00 + 0.00 0.00 0.00 0.10 0.08 0.08 - 0.02 0.27 0.08 0.13 0.11 0.11 - 0.02 0.33 0.09 0.51 0.37 0.45 + 0.09 0.80 0.26 0.37 0.28 0.36 + 0.08 0.60 0.20 0.75 0.55 0.55 - 0.16 2.25 0.40 0.51 0.49 0.49 + 0.04 1.59 0.45 0.17 0.15 0.15 - 0.03 0.25 0.12 0.03 0.03 0.03 unch 0.00 0.10 0.01 0.09 0.08 0.08 - 0.01 0.13 0.06 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.03 0.03 0.03 unch 0.00 0.07 0.03 0.04 0.01 0.01 - 0.02 0.15 0.02 0.02 0.02 0.02 unch 0.00 0.05 0.00 0.09 0.09 0.09 + 0.01 0.30 0.07 0.08 0.08 0.08 unch 0.00 0.17 0.01 0.38 0.21 0.22 + 0.01 0.65 0.20 0.28 0.17 0.17 - 0.04 0.46 0.15 0.22 0.21 0.21 - 0.02 0.58 0.20 0.50 0.50 0.50 unch 0.00 1.00 0.38 2.41 2.18 2.25 - 0.04 4.52 2.09 1.80 1.62 1.68 - 0.06 3.59 1.59 0.01 0.01 0.01 unch 0.00 0.02 0.00 0.01 0.01 0.01 - 0.01 0.02 0.01 0.04 0.03 0.03 - 0.01 0.10 0.03

U.S. Gold* D 187 U.S. Lithium* O 59 U3O8 Corp* O 13 U3O8 Corp T 41 Ubique Mineral 7 UC Res* O 32 Ucore Rare Mtl V 349 Ucore Rare Mtl* O 653 UEX Corp T 753 Ultra Lithium* O 5 Ultra Lithium V 61 O 55 Umbral Enrgy* Unigold* O 53 Unigold V 57 United Battery* O 945 United Res Hdg* O 36 United Silver* O 61 291 United States A* X United States S* N 35660

1.00 0.90 0.93 - 0.05 3.27 0.87 0.30 0.09 0.30 + 0.18 1.44 0.09 0.18 0.16 0.16 - 0.02 0.49 0.16 0.24 0.20 0.22 - 0.01 0.60 0.22 0.10 0.00 0.06 - 0.04 0.25 0.07 0.00 0.00 0.00 unch 0.00 0.20 0.00 0.17 0.13 0.14 - 0.02 0.26 0.12 0.13 0.09 0.12 - 0.01 0.21 0.08 0.19 0.17 0.17 - 0.01 0.41 0.16 0.10 0.10 0.10 - 0.01 0.40 0.10 0.14 0.10 0.13 - 0.01 0.50 0.10 0.14 0.12 0.12 - 0.01 0.64 0.12 0.12 0.12 0.12 unch 0.00 0.20 0.09 0.17 0.15 0.17 + 0.01 0.27 0.13 0.39 0.25 0.28 - 0.04 1.58 0.23 0.04 0.03 0.03 - 0.00 0.07 0.01 0.00 0.00 0.00 + 0.00 0.01 0.00 0.70 0.56 0.63 - 0.01 1.05 0.23 21.53 19.84 20.02 - 1.29 47.64 20.16

U-V

(100s) Stock

Week

12-month

(100s)

Exc Volume High Low Last Change High Low

Unity Energy V 63 V 526 Universal Vent V 34 Upper Canyon Ur-Energy T 163 Ur-Energy* X 811 340 Uragold Bay Rs V X 4848 Uranium Energy* O 0 Uranium Hunter* Uranium Res* D 2163 Uravan Mnrls V 214 USCorp* O 3089 Val-d’Or Mg* O 1 Val-d’Or Mg V 2 108302 N Vale* Valley High Mg* O 461 O 51 ValOre Metals* ValOre Metals V 387 Valoro Res V 357 Valterra Res* O 157 Valterra Res V 304 O 28 Vanadian Enrgy* V 50 Vanadian Enrgy V 381 Vanadium One O 815 Vanadiumcorp* V 1991 Vanadiumcorp Vangold Res V 109 Vangold Res* O 284 525 Vanstar Mng Rs V Vantex Res V 10 Vatic Vent V 849 Vatic Vent* O 33 N 2330 Vedanta* O 50 Velocity Mnrls* Velocity Mnrls V 181 O 80 Vendetta Mng* Vendetta Mng V 248 V 12 Venerable Vent Verde Potash T 113 Verde Res* O 90 Veris Gold* O 14 Vertical Expl* O 1 Vertical Expl V 390 Victoria Gold V 1462 O 1 Victory Nickel* Victory Nickel 37 Victory Res V 5 Victory Res* O 5 Virginia Enrgy V 22 O 31 Virginia Enrgy* Viscount Mng V 165 73 Visible Gold M V 19 Visible Gold M* O Vision Lithium V 456 O 411 Vision Lithium* Vista Gold* X 770 Vista Gold T 20 Viva Gold* O 34 Viva Gold V 31 Vizsla Res V 47 Volcanic Gold V 101 Volt Energy V 90 Voltaic Min V 34 O 315 Voyageur Min* Voyageur Min V 184 O 49 VR Resources* VR Resources V 70 Vulcan Mnrls V 134 VVC Expl V 160

0.10 0.48 0.39 0.45 + 0.03 0.51 0.29 0.35 0.32 0.34 + 0.02 0.63 0.15 0.29 0.25 0.25 - 0.10 0.40 0.75 0.96 0.90 0.92 - 0.01 1.19 0.58 0.01 0.93 0.73 0.68 0.69 - 0.07 0.06 0.06 - 0.01 0.14 0.06 1.20 1.31 1.21 1.27 - 0.03 2.00 0.26 unch 0.00 1.97 0.00 0.00 1.00 0.15 0.19 0.17 0.17 + 0.01 1.15 0.03 unch 0.00 0.07 0.03 0.03 0.03 0.00 unch 0.00 0.02 0.00 0.00 0.00 0.07 unch 0.00 0.10 0.07 0.00 0.07 0.08 unch 0.00 0.14 0.10 0.00 0.10 10.83 13.29 12.71 12.96 - 0.18 16.13 0.01 0.01 0.01 - 0.00 0.04 0.00 0.12 0.19 0.12 0.13 - 0.07 0.48 0.17 0.25 0.17 0.17 - 0.12 1.15 0.11 0.14 0.11 0.11 - 0.01 0.55 0.01 0.02 0.02 0.02 + 0.00 0.04 0.02 0.03 0.02 0.03 + 0.01 0.04 0.01 0.09 0.00 0.08 + 0.02 0.13 0.06 0.11 0.00 0.09 - 0.02 0.18 0.04 0.19 0.16 0.17 + 0.01 0.29 0.01 0.10 0.06 0.08 - 0.00 0.15 0.09 0.14 0.09 0.12 - 0.01 0.16 0.02 0.02 0.00 0.02 + 0.01 0.25 0.01 0.02 0.01 0.02 + 0.01 0.20 0.13 0.11 0.12 unch 0.00 0.18 0.07 0.17 0.17 0.00 0.17 + 0.01 0.58 0.06 0.10 0.00 0.08 + 0.01 0.32 0.01 0.05 0.00 0.05 + 0.00 0.64 10.26 11.26 10.26 11.13 + 0.29 21.99 0.09 0.14 0.12 0.14 + 0.02 0.20 0.13 0.18 0.16 0.18 + 0.02 0.27 0.11 0.13 0.12 0.13 - 0.01 0.21 0.15 0.17 0.16 0.17 - 0.01 0.26 0.10 unch 0.00 0.13 0.11 0.11 0.11 0.53 0.81 0.73 0.76 - 0.01 1.25 0.00 0.00 0.07 unch 0.01 0.01 0.01 0.00 unch 0.00 0.02 0.00 0.00 0.00 0.06 unch 0.00 0.15 0.09 0.09 0.09 0.06 0.09 0.06 0.08 - 0.01 0.40 0.30 0.39 0.37 0.37 - 0.01 0.47 0.01 0.01 0.00 0.01 - 0.01 0.05 0.02 unch 0.00 0.07 0.03 0.02 0.03 0.12 0.14 0.00 0.14 + 0.02 0.65 0.11 unch 0.00 0.23 0.13 0.13 0.13 0.09 0.20 0.12 0.14 - 0.02 0.36 0.07 0.12 0.08 0.12 + 0.00 0.28 0.15 unch 0.00 0.39 0.20 0.19 0.19 0.06 0.05 0.05 - 0.01 0.18 0.05 0.04 0.04 0.04 - 0.01 0.14 0.04 0.08 0.12 0.10 0.11 + 0.01 0.79 0.07 0.09 0.08 0.09 + 0.01 0.62 0.37 0.51 0.47 0.51 + 0.05 0.87 0.56 0.67 0.00 0.67 + 0.03 1.12 0.21 0.22 0.21 0.21 - 0.01 0.40 0.21 0.32 0.28 0.32 + 0.02 0.69 0.14 0.16 0.14 0.16 + 0.01 0.19 0.03 0.04 0.03 0.03 - 0.01 0.29 0.04 unch 0.00 0.96 0.06 0.04 0.05 0.15 0.17 0.17 0.17 + 0.01 0.90 0.04 0.07 0.06 0.06 - 0.01 0.08 0.05 0.09 0.07 0.07 - 0.01 0.12 0.13 0.15 0.14 0.15 - 0.01 0.35 0.17 0.20 0.19 0.20 + 0.02 0.43 0.04 unch 0.00 0.07 0.05 0.04 0.05 0.02 unch 0.00 0.07 0.03 0.02 0.03

10 WAI Cap Invest* O Walker Lane* O 24 Walker River V 533 T 2376 Wallbridge Mng Warrior Gold* O 3 Warrior Gold V 65 Waseco Res V 556 Wealth Mnrls V 887 Wealth Mnrls* O 885 V 45 Wescan Gldflds O 1075 Wesdome Gold* T 4137 Wesdome Gold West African V 582 111 West High Yld V 84 West Kirkland * O West Kirkland V 49

0.00 0.00 0.00 unch 0.00 0.00 0.00 0.05 0.35 0.25 0.25 - 0.01 0.40 0.05 unch 0.00 0.09 0.07 0.06 0.06 0.06 0.18 0.16 0.16 - 0.01 0.35 0.03 unch 0.00 0.17 0.03 0.03 0.03 0.04 0.05 0.00 0.05 - 0.01 0.22 0.02 0.03 0.02 0.03 + 0.01 0.06 0.40 0.50 0.43 0.44 - 0.07 2.00 0.31 0.38 0.32 0.34 - 0.04 1.60 0.01 0.06 0.00 0.05 + 0.02 0.11 1.31 3.05 2.34 2.73 - 0.27 3.79 1.71 4.04 3.30 3.65 - 0.34 4.18 0.14 0.25 0.22 0.22 - 0.01 0.50 0.45 0.35 0.44 + 0.04 0.60 0.20 0.04 0.04 0.04 - 0.00 0.07 0.03 0.04 0.05 0.05 0.05 - 0.01 0.09

W-Z

Stock

Week

23

12-month

Exc Volume High Low Last Change High Low

West Red Lake* O 154 West Red Lake 193 Western Areas* O 2 Western Atlas V 17 Western Copper T 147 Western Copper* X 170 Western Pac Rs V 4 Western Pac Rs* O 40 Western Potash T 111 Western Res* O 125 Western Troy C V 492 Western U&V 256 Western U&V* O 313 Westhaven Vent V 794 Westhaven Vent* O 55 O 229 Westkam Gold* Westkam Gold V 395 V 477 Westminster Rs Westmoreland* O 189 WestMountain* O 0 Wheaton Prec M T 7489 Wheaton Prec M* N 23987 Whistler Gold V 3 White Gold* O 142 White Gold V 2164 White Metal R* O 628 White Metal Rs V 359 White Mtn Engy* O 760 O 9 Whitehaven Coa* Whitemud Res V 22 Wildsky Res* O 0 Wildsky Res V 8 Winston Gold* O 97 Winston Gold 255 Winston Res 94 Wolfden Res* O 53 Wolfden Res V 516 Wolfeye Res V 299 O 11 Wolverine Mnls* Wolverine Mnls V 213 Worldwide Res V 65 WPC Res V 50 X-Terra Res* O 3 X-Terra Res V 73 Xanadu Mines* O 525 Xanadu Mines T 13 Xander Res V 35 Xemplar Egy* O 0 Xiana Mng V 97 Xiana Mng* O 8 Ximen Mng* O 5 Ximen Mng V 1278 Xtierra Inc V 2089 Xtra-Gold Res T 176 Xtra-Gold Res* O 34 14195 Yamana Gold T Yamana Gold* N 46953 Yanzhou Coal* O 0 O 12 Yellowhead Mng* Yellowhead Mng V 62 Yorbeau Res T 713 Yorbeau Res* O 2 0 You Han Data* O Zadar Ventures* O 1 Zadar Ventures V 574 Zanzibar Gold 1030 Zara Res 0 Zara Res* O 0 Zena Mining V 30 Zenith Explor 2 O 31 Zenyatta Vent* Zenyatta Vent V 121 Zephyr Mnls* O 55 Zephyr Mnls V 13 Zimtu Capital V 41 Zinc One Res V 1556 Zinc One Res * O 231 Zincore Mtls V 1 ZincX Res V 1246 ZincX Res* O 17 Zonte Metals V 66 Zonte Metals* O 50

0.05 0.03 0.04 - 0.01 0.13 0.03 0.06 0.05 0.06 + 0.01 0.16 0.05 1.53 1.53 1.53 unch 0.00 2.82 1.53 0.08 0.07 0.07 - 0.02 0.30 0.05 0.63 0.60 0.62 unch 0.00 1.35 0.60 0.50 0.42 0.46 - 0.01 1.07 0.42 0.83 0.00 0.83 unch 0.00 1.20 0.60 0.62 0.18 0.50 + 0.20 0.62 0.01 0.30 0.25 0.25 - 0.05 0.45 0.25 0.20 0.20 0.20 - 0.01 0.35 0.20 0.02 0.00 0.01 - 0.01 0.06 0.01 1.73 1.42 1.51 - 0.21 3.32 0.44 1.29 1.06 1.13 - 0.15 2.70 1.06 1.19 0.98 1.13 + 0.10 1.34 0.10 0.86 0.76 0.83 + 0.06 0.99 0.08 0.00 0.00 0.00 + 0.00 0.04 0.00 0.01 0.00 0.01 - 0.01 0.05 0.01 0.05 0.03 0.03 - 0.01 0.25 0.03 0.03 0.02 0.02 - 0.01 1.84 0.02 0.00 0.00 3.30 unch 0.00 11.00 1.15 26.32 21.70 25.34 + 3.35 29.93 19.87 19.65 16.21 18.94 + 2.39 22.87 15.08 0.07 0.00 0.07 unch 0.00 0.08 0.04 1.08 0.97 1.03 + 0.06 1.44 0.46 1.48 1.30 1.35 + 0.07 2.00 0.54 0.04 0.03 0.04 unch 0.00 0.19 0.03 0.05 0.04 0.05 - 0.01 0.25 0.04 0.00 0.00 0.00 unch 0.00 0.00 0.00 3.16 3.16 3.16 unch 0.00 4.37 3.16 0.01 0.00 0.01 unch 0.00 0.05 0.01 0.00 0.00 0.07 unch 0.00 0.77 0.07 0.09 0.00 0.08 - 0.02 1.01 0.08 0.04 0.03 0.04 + 0.00 0.09 0.02 0.04 0.04 0.04 unch 0.00 0.09 0.03 0.03 0.02 0.03 + 0.01 0.24 0.02 0.16 0.14 0.15 + 0.01 0.56 0.13 0.21 0.19 0.20 - 0.01 0.68 0.18 0.71 0.58 0.58 - 0.13 1.50 0.50 0.09 0.08 0.08 - 0.01 0.12 0.06 0.13 0.12 0.12 unch 0.00 0.17 0.07 0.06 0.03 0.03 unch 0.00 0.09 0.01 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.09 0.09 0.09 unch 0.00 0.20 0.09 0.13 0.10 0.10 - 0.03 0.26 0.10 0.07 0.05 0.05 unch 0.00 0.25 0.05 0.13 0.13 0.13 - 0.05 0.17 0.11 0.09 0.08 0.08 - 0.01 0.21 0.08 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.50 0.38 0.50 + 0.10 0.70 0.09 0.35 0.30 0.32 + 0.01 0.55 0.06 10.27 0.27 0.27 + 0.01 10.27 0.10 0.39 0.26 0.28 - 0.11 0.39 0.13 0.04 0.04 0.04 unch 0.00 0.08 0.02 0.37 0.31 0.31 - 0.01 0.41 0.18 0.23 0.22 0.23 - 0.04 0.45 0.11 3.03 2.80 2.84 - 0.19 4.69 2.66 2.28 2.09 2.12 - 0.14 3.80 2.00 0.00 0.00 1.08 unch 0.00 1.83 1.08 0.64 0.56 0.56 - 0.07 0.68 0.10 0.85 0.00 0.81 - 0.03 0.95 0.10 0.02 0.02 0.02 unch 0.00 0.08 0.02 0.01 0.01 0.01 unch 0.00 0.04 0.02 1.00 0.00 1.00 unch 0.00 2.80 0.75 0.02 0.02 0.02 unch 0.00 0.08 0.02 0.04 0.03 0.03 - 0.02 0.13 0.03 0.14 0.13 0.13 - 0.01 0.20 0.10 0.00 0.00 0.07 unch 0.00 0.24 0.07 0.00 0.00 0.04 unch 0.00 0.17 0.04 0.06 0.06 0.06 unch 0.00 0.13 0.05 0.04 0.04 0.04 unch 0.00 0.04 0.04 0.31 0.28 0.28 - 0.01 0.65 0.27 0.37 0.00 0.37 unch 0.00 0.84 0.34 0.14 0.14 0.14 unch 0.00 0.27 0.14 0.19 0.19 0.19 unch 0.00 0.33 0.17 0.22 0.22 0.22 + 0.01 0.40 0.20 0.09 0.07 0.08 - 0.01 0.55 0.07 0.07 0.05 0.06 - 0.01 0.45 0.05 0.00 0.00 0.05 unch 0.00 0.35 0.03 0.24 0.19 0.19 - 0.05 0.75 0.20 0.18 0.15 0.15 - 0.02 0.56 0.16 0.32 0.30 0.32 + 0.03 0.41 0.16 0.22 0.22 0.22 unch 0.00 0.30 0.12

BID-ASK — DECEMBER 10–14, 2018

STOCK

12-MONTH

EXC BID ASK LAST HIGH

66 Resources African Metals AJN Resources Alba Minerals Alchemist Mng Alderon Iron* Alexandra Cap Allante Potash ALQ Gold Altan Nevada Altitude Res American CuMo Anconia Res Anglo-Bomarc Angus Ventures Antioquia Gold Antler Hill Arch Coal* Arrowstar Res Asbestos Corp Atlatsa Res* Aurcana Corp Aurelius Min Austin Res Balto Res Banro Corp* Baroyeca Go&Si Bell Copper Benz Mining Bethpage Cap BHK Mining Black Bull Res Black Dragon Black Mam Mtls Boss Power Brunswick Res Buccaneer Gold Bullman Mnls Candelaria Mg Canoe Mng Vent Caracara Silvr Cdn Intl Mnrls Cdn Platinum Cdn Silvr Hunt Century Global Cerro de Pasc Chilean Metals CIM Intl Grp Cleghorn Mnls Cliffs Nat Res* Comet Inds Conquest Res Crest Resource Cresval Cap Cyprium Mng Damara Gold Dawson Gold Eastern Zinc Electra Stone European Metal EVI Global Grp Evolving Gold Excalibur Res Fieldex Expl

C V C V C X C V C V V V V V V V V N V V X V V V V X V V V V V V V V V V V V V V V V V V T C V C V N V V C V V V V C V C C C C V

20-23_DEC24_StockTables.indd 23

0.14 0.19 0.15 0.27 0.06 0.09 0.06 0.08 0.14 0.08 0.20 0.15 0.16 0.16 0.28 0.03 0.03 0.06 0.35 ... 0.40 0.14 0.52 ... ...

0.50 0.93 0.13 0.35 0.13 0.13 1.10 1.10 0.22 0.01 0.02 0.02 0.05 0.04 0.04 0.05 0.09 0.06 0.07 0.06 0.13 0.01 0.01 0.01 0.04 0.08 0.08 0.15 0.16 ... ...

0.42 0.50 0.02 0.03 0.02 0.10 0.02 ...

0.10 0.22 ... ...

0.58 0.02 0.24 0.12 0.12 0.38 1.00 0.35 0.90 ... ...

0.06 0.45 0.10 0.10 0.23 0.28 0.13 0.14 0.14 0.15 0.01 0.02 0.02 0.04 0.08 0.13 0.13 0.38 0.11 0.11 0.11 2.10 0.01 0.02 0.01 0.04 0.17 0.20 0.20 0.22 0.07 0.07 0.08 0.18 0.01 ...

0.07 0.11 0.02 0.02 0.02 0.10 0.18 0.10 0.08 0.12 0.10 0.39 0.08 0.10 0.08 0.14 0.17 0.20 0.17 0.03 0.04 0.03 0.05 0.03 0.03 0.03 0.18 0.06 0.12 0.06 0.09 0.42 0.46 0.46 0.99 0.05 0.05 0.14 0.25 0.15 0.15 0.11 0.30 0.20 0.20 0.15 0.39 0.02 0.02 0.03 0.05 0.05 0.06 0.06 0.09 0.17 0.20 0.17 0.29 ... ...

0.29 0.34 0.08 0.08 0.09 0.34 0.22 0.62 0.21 0.35 0.08 0.10 0.10 0.14 1.45 3.20 1.43 7.17 2.25 3.40 3.05 3.60 0.02 0.03 0.02 0.07 0.10 0.15 0.10 0.15 0.07 0.20 0.05 0.03 0.03 0.03 0.05 0.06 0.05 0.10 0.01 0.40 0.30 0.17 0.30 0.19 0.56 0.01 0.02 0.01 0.04 ... 0.01 0.01 0.58 0.63 0.63 0.70 0.08 0.08 0.08 0.19 0.09 0.10 0.10 0.11 0.17 0.17 0.19

LOW

STOCK

0.10

Finore Mng Fire River Gol First Idaho First Legacy First Mexican Four Nines Full Metal Mnl Gem Intl Res Gentor Res GFM Res Glacier Lake Global Cop Grp God’s Lake Res Goldbelt Emp Golden Harp GoldON Res Granite Creek Great Quest Fe Greatbanks Res Grenville Gold HFX Holding Highbury Proj Highvista Gold Icon Explor IEMR Res IGC Res Infinite Lith Inspiration Mg Intl Battery Intl Corona Intl Millm Mng Intl Zeolite Iron South Mng Ironside Res JDF Explor Inc Jubilee Gold Kenna Res Kermode Res Kesselrun Res Le Mare Gold Legion Metals Leo Res Lithion Energy Logan Res Lovitt Res Lund Enterpr Madeira Mrnls MAG Silver* Magna Gold Magnitude Mng Martina Mnls Match Capital MAX Res McLaren Res Meridius Res Mesa Expl Mezzotin Mnrls Micrex Dev Midasco Cap MillenMin Vent Millstream Min Minecorp Egy Montana Gold Mountain Lake

0.08 0.04 0.04 0.12 0.25 0.06 0.01 0.03 0.05 0.01 0.06 0.33 0.02 0.07 0.05 0.33 0.06 0.17 0.03 0.01 0.05 0.10 0.01 0.03 0.05 0.07 0.10 0.06 0.03 0.03 0.06 0.23 0.10 0.08 0.11 0.02 0.04 0.11 0.12 0.08 0.18 0.06 0.98 2.60 0.02 0.10 0.04 0.22 0.01 0.07 0.07 0.01

12-MONTH

EXC BID ASK LAST HIGH LOW

C V V V V C V V V V V V C V V V V V V C V V V V V V V C C V V V V V C V V V V V C C V V V V V X V V V V V C V V V V V V V V C C

0.12 0.12 0.11 0.03 0.07 0.09 0.06 0.24 0.04 0.06 0.25 0.40 0.22 0.25 0.01 0.02 0.02 0.07 0.28 0.33 0.25 0.80 0.01 0.01 0.10 0.15 0.01 0.02 0.02 0.03 0.06 0.08 0.08 0.14 0.04 0.13 0.15 0.15 0.01 0.02 0.02 0.11 0.07 0.08 0.08 0.11 ... ...

0.90 1.10 0.02 0.04 0.02 0.03 0.14 0.17 0.17 0.20 0.14 0.15 0.14 0.20 ... ...

0.12 0.13 0.01 0.01 0.10 0.24 0.03 0.05 0.03 0.25 0.40 0.40 0.70 0.05 0.10 0.06 0.12 0.21 ...

0.24 0.35 ... ...

0.17 ... 0.11 0.41 0.84 0.02 0.02 0.02 0.05 0.05 0.16 0.19 0.25 0.26 0.29 0.28 0.32 0.03 0.03 0.03 0.27 ... ...

0.31 0.03 0.04 0.04 0.08 0.02 0.02 0.03 0.04 0.08 0.08 0.08 0.47 0.24 0.27 0.24 0.28 0.09 ...

0.14 0.16 0.01 ...

0.05 0.15 0.13 0.70 0.64 0.70 0.13 0.16 0.15 0.01 0.02 0.01 0.03 0.04 0.05 0.05 0.15 0.15 0.15 0.17 0.50 0.12 0.58 0.17 0.21 ... ...

1.09 ... ...

0.10 0.03 0.06 0.06 0.08 0.08 0.13 0.10 0.25 0.10 0.10 0.13 0.25 0.04 0.30 0.03 0.05 12.52 13.30 12.52 14.40 ... 0.50 0.40 0.45 ... ...

0.15 0.30 0.04 0.10 0.04 0.07 0.01 ...

0.04 0.10 0.10 0.20 0.32 0.03 0.04 0.03 0.19 0.21 ...

0.20 0.20 0.06 0.07 0.06 0.08 0.01 0.02 0.01 0.04 0.02 0.02 0.01 0.03 0.09 0.20 0.09 0.15 0.01 0.04 0.05 0.04 0.06 0.04 ... ...

0.12 0.20 0.09 0.10 0.10 0.10 ... ...

0.05 0.09

0.02 0.12 0.01 0.10 0.10 0.01 0.06 0.07 0.02 0.04 0.22 0.01 0.01 0.12 0.08 0.06 0.12 0.05 0.21 0.19 0.02 0.10 0.12 0.02 0.03 0.01 0.05 0.04 0.08 0.01 0.40 0.01 0.04 0.17 0.05 0.04 0.04 0.11 0.02 6.12 0.20 0.14 0.04 0.06 0.02 0.18 0.03 0.01 0.01 0.07 0.07 0.02 0.03

STOCK

MX Gold Nebu Res New Jersey Mng New Klondike New Point Expl New Stratus Newlox Gold Nexco Res Noble Metal Gr Norsemont Cap Organic Potash Oriental Non F Pac Arc Res Pac Cascade Patriot Gold Pedro Res Pele Mtn Res Phoenix Gold Plato Gold Prime Meridian Quantum Cobalt Rare Element* Red Oak Mg Red Tiger Mng Reliant Gold Rhyolite Res Rio Silver Rizal Res Rockex Mng Rockland Mnls Rockridge Res Rojo Res Ross River Rubicon Mnrls* Sage Gold Samco Gold Sandy Lake Gld Scavo Res Sennen Potash Silver Mtn Mns Superior Mng Surge Explor Tajiri Res Talmora Diamd Tanzania Mnls Themac Res Thor Expl Thunder Mtn Gd Tiger Intl Tolima Gold Tri-River Vent UC Res United Battery Vale* Valencia Vent ValOre Metals Vanadium One Vela Minerals Westcot Vent WPC Res Zena Mining Zenith Explor Zinco Mng Zincore Mtls

12-MONTH

EXC BID ASK LAST HIGH LOW

V V C V C V C C V C C C V V C V V V V V C X V V C V V V C V V V V X V V V C V V V V V C V V V V V V V V C N V V V V V V V C V V

0.11 0.11 0.11 0.15 0.04 0.04 0.04 0.17 0.33 0.17 0.26 0.01 0.01 0.01 0.06 0.06 0.06 0.41 0.25 0.68 0.40 0.40 0.03 0.06 0.06 0.07 0.07 0.15 0.09 0.40 0.01 0.01 0.01 0.04 0.35 0.49 0.35 0.47 0.02 0.03 0.03 0.08 ...

1.00 1.00 1.05 0.22 0.32 0.35 0.82 0.01 0.02 0.01 0.05 ...

0.10 0.10 ... 0.30 0.21 0.42 0.04 0.04 0.04 0.09 ... 0.01 0.01 0.02 0.02 0.02 0.06 0.01 0.50 0.14 ... ...

1.10 3.15 0.11 0.16 0.15 0.89 0.05 0.33 0.33 0.34 0.02 0.03 0.03 ... 0.02 0.02 0.04 0.15 0.29 0.15 0.32 0.04 0.05 0.04 0.07 0.02 0.03 0.02 0.06 ... 0.10 0.06 0.10 0.07 0.08 0.08 0.11 0.16 0.28 0.23 0.50 ... 0.98 0.40 0.10 0.10 0.26 0.50 ... ...

0.03 1.35 0.01 0.01 0.02 0.18 0.02 0.03 0.02 0.11 0.08 0.08 0.09 0.13 0.36 0.57 0.36 0.54 0.45 0.87 0.45 0.55 0.01 0.02 0.02 0.03 0.06 0.06 0.10 0.10 0.39 0.44 0.39 0.23 0.09 0.17 0.08 0.18 0.02 0.03 0.02 0.06 0.07 0.16 0.16 1.20 0.04 0.05 0.04 0.10 0.11 0.16 0.17 0.22 ... ...

0.17 0.30 0.07 0.13 0.08 0.17 0.01 0.01 0.01 0.06 ... ...

0.04 0.01 0.02 0.02 0.03 0.32 0.32 0.44 1.68 ... ...

10.24 11.10 0.10 0.15 0.22 0.06 0.07 0.07 0.13 0.13 0.15 0.13 0.18 0.30 0.30 0.30 ... ...

0.35 0.55 0.02 0.03 0.03 0.05 0.06 0.09 0.06 0.13 0.05 ...

0.04 0.04 0.05 0.07 0.05 0.05 0.07 0.05 0.35

0.08 0.15 0.05 0.08 0.03 0.09 0.01 0.32 0.02 1.00 0.21 0.10 0.17 0.03 0.02 0.20 0.06 0.08 0.02 0.15 0.04 0.01 0.02 0.01 0.20 0.10 0.03 0.01 0.02 0.04 0.26 0.30 0.01 0.04 0.03 0.05 0.01 0.12 0.04 0.09 0.14 0.04 0.01 0.01 0.31 6.57 0.07 0.18 0.23 0.02 0.05 0.04 0.03

2018-12-17 1:25 PM

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2018-12-18 5:38 PM