The Northern Miner April 2 2018 Issue by The Northern Miner Group

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GLOBAL GOLD

Feature site visit to Iamgold’s Rosebel gold mine in Suriname / 9–15

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APRIL 2–15, 2018 / VOL. 104 ISSUE 7 / GLOBAL MINING NEWS · SINCE 1915 / $3.99 / WWW.NORTHERNMINER.COM

Hecla to acquire Klondex for US$462M GOLD

| Hecla gains Nevada foothold with three high-grade mines

Group Eleven drills for zinc in Ireland EXPLORATION

| Funded for up to 11,000 metres across four properties BY RICHARD QUARISA rquarisa@northernminer.com

ewly public Group Eleven Resources (TSXV: ZNG) has started drilling its 60%-owned Ballinalack zinc property, 50 km west of Boliden’s (STO: BOL; US-OTC: BDNNF) Navan zinc mine in the Republic of Ireland. The property is one of several that Group Eleven could explore this year for zinc. Ballinalack is a joint venture with Chinese mining company Shenzhen Zhongjin Lingnan Nonfemet. It has three known mineralization pods, which form a historic resource estimate pegged at 7.7 million tonnes grading 6.3% zinc and 1% lead based on a 1991 feasibility study by Oliver Resources. Oliver, however, only included the main pod in its 1991 mine plan. Group Eleven CEO Bart Jaworski sees the other two pods as potentially low-hanging fruit. “However, that’s all secondary to See GROUP ELEVEN / 6 PM40069240

Klondex Mines’ Fire Creek gold mine in Nevada, which produces 100,000 oz. gold annually. KLONDEX MINES

BY TRISH SAYWELL tsaywell@northernminer.com

ecla Mining (NYSE: HL) is acquiring Klondex Mines (TSX: KDX) and its Fire Creek, Midas and Hollister mines in Nevada — three of the highestgrade gold mines in the U.S., if not the world — in a US$462-million, friendly cash-and-share deal. “I can’t overemphasize what a

rare set of assets these are in the heart of Nevada — a place where more and more discoveries have been made — and I strongly believe more are to come,” Phillips S. Baker Jr., Hecla’s president and CEO, said during a conference call. “Not only will we have about 110 sq. miles, with some of the highest-grade mineralization on the planet, but it’s along some key trends in Nevada. This is almost as much land as Hecla has in total.” Hecla is buying the Nevada as-

sets and the 162,000 equivalent oz. gold they produce each year using excess cash it has made and 20% of its outstanding stock. “Instead of leaving cash sitting idle, we have put it to work buying this immediate production and long-term potential,” he said. “And we have sufficient liquidity — with the remaining cash in our revolver post-closing — that we can continue to execute our strategy.” At the end of 2017, Hecla had US$187 million in cash and equiva-

lents and $502 million in long-term debt. “When it’s all said and done, we’ll still be cash positive,” Baker said during question and answer session on the conference call. “That’s one of the things that struck us, we can acquire this [and] Nevada itself will be cash flow positive for us — there are no capital outlays that we’re looking to in Nevada that are going to consume all of the cash flow See HECLA / 2

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ALIO GOLD: MAKES ALL-SHARE BID FOR PRODUCER RYE PATCH / 3

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2018-03-27 7:08 PM

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APRIL 2–15, 2018 / THE NORTHERN MINER

Klondex Mines’ True North gold mine in Manitoba, which will be spun out into a new company in which Hecla Mining will have a 13.5% stake. KLONDEX MINES

Hecla to acquire Klondex for US$462M HECLA From 1

that is going to be generated from the three mines.” Klondex shareholders are being offered US$2.47 per share in cash, or 0.6272 shares of Hecla, subject to a maximum cash amount of US$157.4 million and a maximum issuance of 77.4 million shares of Hecla. The transaction represents a 59% premium to Klondex’s 30-day, volume-weighted average price. In addition, Klondex’s Canadian assets (True North and Bison in Manitoba and Tully in Ontario) will be spun out into a separate company listed on the TSX Venture Exchange, in which Hecla will subscribe for $7 million, or a 13.5% equity stake, which values assets at US$45 million. The boards of both companies support the acquisition, and two key shareholders in Klondex — CI Investments and Sentry Investments, which make up 24% of the junior’s outstanding shares — have entered into support agreements. The transaction should close in the second quarter and a US$21-million termination fee could apply if the deal doesn’t proceed. Baker noted on the conference call that Hecla has 125 years of experience and is leveraging its core strengths as an operator of highgrade, narrow-vein underground mines, as well as its track record in mill optimization, and said his management team sees opportunities to improve costs, throughput and recoveries at Klondex’s operations. He also pointed out that Hecla is well capitalized and can consistently invest in its mines, with the diversified metal exposure that it has to silver, gold, lead, zinc, and, in the future, copper. Hecla benefits from the 162,000 equivalent oz. gold production from Klondex, but on a silver-equivalent basis, this also works out to 11.2 million oz. — a nearly 30% increase in Hecla’s production. Hecla has four operating mines: one in Canada (Casa Berardi), two in the U.S. (Lucky Friday and Greens Creek), and one in Mexico (San Sebastian). “The grade and the land package are truly differentiators to other acquisition opportunities that we’d seen and passed on,” Baker noted of Klondex’s assets, adding that Hecla had some of the highest grades in the business due to its Greens Creek

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operation, but with Klondex’s mines, grades will be even higher. “I challenge you to name a company our size that will have our production and quality of land packages in as many prolific mining districts as Hecla,” Baker continued. “While we don’t need Nevada exposure, it seems to me that this deal with the Nevada exposure, and the fact that it’s extraordinarily high grade, is the best opportunity for Hecla to deliver value beyond what we already own, which are already in really good districts.” The deal also increases Hecla’s doré production relative to smelter production, which helps control costs, Baker said. “We’ve actually had for a long time an objective to have more doré production versus smelter production, and it really takes a step in that direction for us.” Paul Huet, Klondex’s president and CEO, noted that the deal is “compelling” for a lot of reasons. “Our shareholders will benefit immediately from the premium, they get to share in the upside of the projects with Hecla running them and they will share in the ownership of Klondex Canada, the spin-out company,” he said. “We see Hecla as the right acquirer because they have a track record of delivering value from acquisitions, they are well-known for being excellent narrow-vein underground miners, and we believe they have the financial strength to further unlock the true potential and value of our Nevada mines.” Huet also said he sees lower risk with more quality projects in the portfolio and meaningful exposure for Klondex shareholders to silver, lead and zinc. “Hecla has a track record of working with these types of mines and plans on combining know-how and capital with the skill of the miners at site to result in [assets that are] better, more profitable and longer-lived.” Baker noted that while Klondex’s whole package of properties is important, Hecla sees Fire Creek, “the highest-grade gold mine of scale in North America, as a company making asset along the lines of Greens Creek,” but added that “it will need exploration [and] cost reductions for increased throughput to reach its full potential. “It’s what we do,” Baker said. “The type of mining that’s done there, the type of planning that needs to be done, is exactly what

“INSTEAD OF LEAVING CASH SITTING IDLE, WE HAVE PUT IT TO WORK BUYING THIS IMMEDIATE PRODUCTION AND LONGTERM POTENTIAL.” PHILLIPS S. BAKER JR. PRESIDENT AND CEO, HECLA MINES

we do at our other operations. The mill optimization issues are issues that we’re facing at Casa that we’re facing at Greens Creek, so we feel quite comfortable with our capacity to take these on.” In terms of the premium, Baker noted that “depending on how you measure it, the premium is very high or very low, given the recent significant decline in Klondex’s share price,” but added that “the market has overdone the decline, so we are willing to give Klondex shareholders some of that back with our premium.” “Just looking at the value of our Nevada assets alone, that premium is in my opinion humbly justified based on some other transactions,” Huet added. “It’s a high premium, however, having the ability to explore and consolidate a district — such as what we have in the northern Nevada rift — is unique.” As for the US$45 million attributed to Klondex’s assets in Canada, Huet said that sum is well justified. Klondex paid over US$30 million for True North alone, and recently acquired Bison for another US$9 million. There is a 1.7 million oz. resource at True North, and Bison on its own has another 340,000 oz. at 8 grams. The Tully project in Timmins, Huet adds, “comes at no cost … it’s in the heart of Timmins, where a lot of people have been focusing on, behind Kidd Creek for quite a while now. And don’t underestimate the value of a fully permitted mine and mill in Manitoba with the equipment that’s there.” Huet says that when Klondex weighed making the True North acquisition and looked at risk versus reward, it had over $40 million of equipment that Klondex could have sold. Klondex took some of the equipment to Nevada early on, but he says there’s an awful lot of equipment left that could be sold. In addition, the reserve in the tails is a little north of 40,000 ounces. For Hecla’s part, the principal

driver for the deal is Fire Creek, and the 100,000 oz. gold it produces a year. “It has a great cost profile, and it’s the highest-grade gold mine of significant scale in North America. Hecla creates value here if we can improve the consistency of the throughput and prove the overbreak and under-break [and] get enough development ahead of the production, so there’s more operational flexibility, much like we had to do at Casa Berardi, and improve the planning and reconciliation.” Baker noted that if Hecla can lower the cut-off grade (US$350 per tonne) by between 5% and 10%, or even 15%, that would either increase the mineable material or improve the margins. But even if it can’t accomplish that, he said, Hecla says it can get more consistent production out of the mine. In terms of exploration upside, Baker noted that Klondex’s mines in the heart of Nevada are near some of the great mines in the world, adding that he started his career 32 years ago with Battle Mountain Gold, west of Fire Creek, but hasn’t been with a company with assets in Nevada for the last 17 years. “The thing I’m struck by is how our improved exploration techniques and knowledge of geology make a district like this ever changing, with discoveries that were never discovered 30 years ago.” While Fire Creek is driving the transaction, Hecla is also excited about the prospects for Hollister and Midas. At Hollister, it’s mostly about the prospective Hatter Graben project, with over 400 metres of veins and over 600 metres of strike. Baker said Hatter Graben has the size potential to be what Midas was 30 years ago. At Midas, Hecla plans to add screens and other equipment so the carbon-in-leach can improve recoveries of Hollister ore and give the company more flexibility. And while Midas has a short mine life, “there is a big resource

position that gives us optionality at higher prices, and we’re going to probably continue the exploration that Klondex has started.” Baker ended the conference call saying that during his career, there was only one other transaction he was more excited and more confident about than Klondex, and that was Hecla’s Greens Creek. “This is the perfect marriage,” Baker says of Klondex. “It’s going to benefit both shareholders — big premiums for Klondex, big upside for Hecla, and it really fits the strategy of delivering long-term value to Hecla shareholders with these big land positions and big resource spaces that we can develop over time. And so we’re very excited and happy to be doing this transaction, and I hope you see it the same way.” Baker also noted that one of Hecla’s goals is to become investment grade, and that he sees the Klondex transaction as helping it move in that direction. He noted that on a pro forma basis, if Hecla had owned Klondex in 2017 and adjusted for the estimated general and administrative synergies, Hecla would have had $41 million more operating cash flow. “Our credit metrics are already pretty good and with Klondex comes more revenue and diversification, and we think moves us in that direction of investment grade.” When asked if Hecla would consider refinancing its bonds, Baker responded: “We are always considering the opportunity to refinance the bonds, and so we’ll take everything into account as to when would be the appropriate time to do that. Or, frankly, when we look at our long-term plans, we have other ways that we can refinance the bonds. I think the key thing to realize here is that our credit metrics are going to improve dramatically as a result of the acquisition.” “We’re going to have more earnings before interest, taxes, depreciation and amortization — we’re going to see those metrics and that improvement that we’ve seen over the last five years — and I can’t emphasize to you enough that the objective we have is to go from single B to double B and from double B to triple B, and we think this is a huge step in that direction, given the small amount of capital that these projects are going to require.” Klondex has US$35 million in debt on its books. TNM

2018-03-27 7:08 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / APRIL 2–15, 2018

Alio Gold to acquire Rye Patch in all-share deal GOLD

| Incremental free cash flow will help finance Ana Paula construction

BY TRISH SAYWELL

tsaywell@northernminer.com

n an effort to diversify geopolitical risk and transform itself from a single-asset producer, Mexico-focused Alio Gold (TSX: ALO; NYSE-AM: ALO) is buying Rye Patch Gold (TSXV: RPM; US-OTC: RPMGF) and its Florida Canyon mine in Nevada, one of two acquisitions announced on March 19 of companies with assets in the mining-friendly state. Rye Patch’s 100%-owned Florida Canyon mine in Nevada is a pastproducing, open-pit, heap-leach operation that was restarted in December 2017. Alio Gold’s wholly owned, producing open-pit mine, San Francisco, is in Mexico’s Sonora state, and its fully owned development project, Ana Paula, is in the country’s state of Guerrero. “As two single-asset companies in a challenging precious metals market environment, this consolidation has the potential to improve valuations for both sets of shareholders,” Greg McCunn, Alio Gold’s CEO, said on a conference call, adding that the business combination “creates a platform to grow into a mid-tier gold company.” If the transaction is completed, the company will produce an estimated 165,000 oz. gold this year from the two open-pit heap leach operations, Alio Gold says, basing its estimate on analyst consensus. “Combining the San Francisco mine, which is expected to produce between 90,000 and 100,000 oz. gold this year, with Florida Canyon, creates a production profile which we believe can be expanded to 180,000 to 200,000 oz. gold, with minimal capital expenditures,” McCunn said. “Adding the potential 115,000 oz. per year from our feasibility-stage Ana Paula project would create a plus 300,000 oz. per year midtier gold company, with a pipeline of exploration and development projects.” In addition to the San Francisco mine and Ana Paula, Alio Gold has control of a 560 sq. km land package along the Guerrero gold belt, and a portfolio of other exploration assets in Mexico, while Rye Patch’s other assets in Nevada include over 180 sq. km of land along the Oreana Trend, with full interests in Lincoln Hill, an open-pit, gold-silver project at the preliminary economic assessment (PEA) stage; and Wilco, a gold silver project. Incremental free cash flow from greater annual gold production will also help Alio Gold finance construction of the high-grade Ana Paula project, McCunn noted. The combined pro forma entity will have US$74 million in cash and equivalents and US$29 million in total debt. Alio Gold and Rye Patch shareholders will own 53% and 47% of the combined company. In addition, the larger company will have an enhanced capital market presence. “The combined company will have a pro forma market capitalization of over US$200 million — that’s an 88% increase for Alio Gold, with the potential for the combined entity to rerate further, with inclusion on various indices,” McCunn said. Under the proposed deal, each common share of Rye Patch will be swapped for 0.48 of a common share of Alio Gold, which implies a $1.57 value per Rye Patch share, and a 35% premium to Rye Patch shareholders based on the 20-day, volume-weighted average trading

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Workers at Rye Patch Gold’s Florida Canyon gold mine in Nevada. RYE PATCH GOLD

“AS TWO SINGLEASSET COMPANIES IN A CHALLENGING PRECIOUS METALS MARKET ENVIRONMENT, THIS CONSOLIDATION CAN IMPROVE VALUATIONS FOR BOTH SETS OF SHAREHOLDERS.” GREG MCCUNN CEO, ALIO GOLD

price of both companies. The offer values Rye Patch’s outstanding undiluted equity at $128 million. Alio Gold will issue 39 million shares. The board of directors of each company have approved the proposed transaction. Alio Gold’s San Francisco mine produced 83,558 oz. gold last year at all-in sustaining costs of US$1,034 per ounce. A prefeasibility study on Ana Paula outlined a 7.5-year mine life and annual average production of 116,000 oz. gold and 166,000 oz. silver. Capital costs are an estimated US$137.2 million, with a two-anda-half-year after-tax payback. Ana Paula’s total measured and indicated resources (amenable to open-pit and underground extraction and inclusive of reserves) stand at 20.99 million tonnes averaging 2.17 grams gold for 1.46 million contained oz. gold, and 4.8 grams silver for 3.27 million contained oz. silver. Rye Patch poured first gold at San Francisco in the second quarter of 2017. A January 2017 PEA outlined an 8.5-year mine life producing 76,500 oz. gold annually for a total 613,000 oz. gold over the mine life. Measured and indicated resources total 1.13 million ounces. The ore grade is 0.45 gram gold per tonne. In terms of exploration, and in addition to its land package in Guerrero, Alio Gold is developing a 5,000-metre drill program for its wholly owned greenfield Ejutla project, near Fortuna Silver Mines’ (TSX: FVI; NYSE FSM) San Jose mine in the state of Oaxaca, which produced 7.5 million oz. silver and 55,950 oz. gold in 2017. Alio Gold’s

A blast in the pit at Rye Patch Gold’s Florida Canyon gold mine. RYE PATCH GOLD

exploration program will start next year and drill epithermal gold-silver targets. Rye Patch’s Lincoln Hill project, 56 km southwest of Florida Canyon, is at the PEA stage. A 2014 technical report envisioned an open-pit operation with a heap-leach processing plant handling both oxide and sulphide materials, and producing a gold-silver doré. Lincoln Hill’s measured resources stand at 4.2 million tonnes grading 0.43 gram gold and 11.76 grams silver; indicated of 25,100 tonnes grading 0.38 gram gold and 10.76 grams silver; and inferred 20.82 million tonnes averaging 0.38 gram gold and 12.19 grams silver. Wilco — its large, bulk-tonnage, open-pit gold deposit — is geologically similar to Florida Canyon and has measured resources of 25.1 million tonnes averaging 0.41 gram gold and 3.81 grams silver, indicated of 89 million tonnes grading 0.33 gram gold and 3.11 grams silver, and inferred of 52.6 million tonnes of 0.32 gram gold and 3.61 grams silver. McCunn told analysts and investors on the conference call that Alio Gold has been interested in Florida Canyon and had discussions at high levels with Rye Patch for more than six months. “Florida Canyon is a relatively straightforward operation. It’s an

open-pit mine with a reasonably low strip ratio, a fairly coarse crushing circuit — they are crushing to 1.25 inches — and a straightforward heap-leach operation with reasonable metallurgy and good gold recoveries, even at that coarse crush,” McCunn said. “Most of the challenges have been start-up related challenges, and a strained balance sheet has certainly hampered the company from getting up and running as quickly as they would like, but ... we are encouraged by the asset, and it’s definitely an asset we’d like to own and have in our portfolio.” Alio Gold aims to “continue to

make sure that Florida Canyon hits its targets and starts operating the way it should be operating,” he added. “This may take a little bit of capital, but we believe this asset at these gold prices is starting to generate positive cash flow, and we think that the commissioning has turned the corner, so it should be able to right itself here in the back half of this year.” McCunn says that Ana Paula is its priority development project. Higher production from a second mine will help the company optimize the project and include the underground component. “The company is still driving forward full speed ahead on the decline construction at Ana Paula — we had our first mechanized blast there ... we’re starting to make progress, actually, underground now, and we’re continuing to generate drill results from our surface drill program, now targeting the extension of the high-grade breccia below the proposed pit.” In addition, McCunn said he isn’t ruling out more acquisitions. “We’ve been quite active in the mergers and acquisitions space and evaluating these types of transactions,” he said. “We would expect that we’d continue to look at those opportunities. Obviously the priority would be to close this transaction, but we’re certainly working on others that are attractive, and I think would be attractive to our shareholders. The idea would be if we see a transaction that is accretive and does make sense, and does add value, we would continue to pursue those, absolutely.” Mining analyst Tara Hassan of Raymond James said in a research note that there is “limited risk of the merger failing,” and said there is “potential for a market rerating later in 2018, if Alio delivers positive results from its operations and Ana Paula underground program.” The merger “makes sense” and “diversification gives Ana Paula some breathing room,” Hassan said, but time will reveal the benefits. “The addition of Florida Canyon addresses the near-term challenges we had previously identified at Ana Paula, including funding the project at a time of heightened regional risks and potential delays related to some of the technical aspects of the project,” she wrote. “The addition of cash flow from Florida Canyon will allow Alio to delay the feasibility study until later in 2018 or early 2019 [previously due in second-quarter 2018], providing the time necessary to evaluate the potential to increase throughput with the inclusion of underground production. It will also reduce the funding required for Ana Paula.” Funding is now US$70 million, from US$90 million. TNM

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Glimmers of hope for uranium miners SUPPLY & DEMAND

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O P- E D

| Positive events in U.S., Japan

t’s been an eventful past couple of weeks in the uranium subsector, even if the spot price for uranium oxide has shown little positive response. In the U.S., the Trump administration’s Department of Energy (DOE) has suspended sales from its uranium oxide stockpiles for the rest of the government’s BY JOHN CUMMING jcumming@northernminer.com fiscal year (until Sept. 30, 2018). In a process dubbed “barter,” the DOE had been selling uranium from excess inventories for years to fund the environmental cleanup of the department’s former Portsmouth gaseous-diffusion uranium enrichment facility in Piketon, Ohio. The DOE had been bartering roughly 4.6 million lb. U3 O 8 equivalent annually to fund the Portsmouth activities and for downblending of highly enriched uranium from decommissioned nuclear weapons. This new suspension will remove 1.6 million lb. U3 O 8 equivalent from the market over the coming months. Energy Secretary Rick Perry has said he would prefer a complete halt to the sales, with the Portsmouth cleanup funded as an ordinary budget item. Perry told the Senate Natural Resources Committee on March 20 that the DOE’s uranium bartering process was poorly designed: “I’d like to see it stopped completely … our efforts should be focused on letting the uranium marketplace work as it should while continuing without disruption the important work that is taking place at the Portsmouth site.” The budget appropriates US$840 million for DOE expenses related to nuclear decontamination and remediation activities, which would include work at Portsmouth. The policy change on DOE uranium sales was contained in the US$1.3-trillion omnibus spending bill that was passed by both houses of Congress and signed by President Donald Trump on March 23. The DOE and U.S. Nuclear Regulatory Commission’s requests for appropriations to restart licensing for the proposed but politically contentious Yucca Mountain nuclear waste repository in southern Nevada were not included in the final draft of the budget, nor was the proposed funding for an interim nuclear waste storage program. The Uranium Producers of America association has long lobbied for the end of the DOE’s uranium barter program, and applauded the changes. The association noted that the 1.6 million lb. of uranium that will be kept off the market in the coming months is “more uranium than our entire domestic industry produced in 2017. At a time when our industry is providing less than 2% of the fuel needed to power our domestic nuclear reactors, halting DOE uranium transfers is the right policy, and we look forward to working with Congress and the Administration on a long-term plan for the inventory, as well as other actions to ensure we have a strong and stable domestic industry.” With the latest suspension of the DOE barter program and recent production cuts by major uranium miners such as Cameco and KazAtomProm, some 30 million lb. of annual uranium oxide supply has been taken out of the market over the past year. Meanwhile on the demand side in Japan, two more nuclear reactors have come back online after a virtual stasis in the country’s nuclear power industry since the 2011 Fukushima nuclear disaster. There are now seven reactors up and running in Japan, out of a total of more than 40 reactors. A Japanese district court also rejected a lawsuit to halt construction of the Ohma nuclear plant, which had been delayed since 2011 and is now due to come online by 2025. Unfortunately for uranium producers, there was little movement in the uranium spot price on all this good news, with prices still f loundering below US$22 per lb. at press time. TNM

DEPARTMENTS Editorial. . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Events. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5 Metal Prices. . . . . . . . . . . . . . . . . . . . . . . . 19

Professional Directory. . . . . . . . . . . . . . . 17 Stock Tables. . . . . . . . . . . . . . . . . . . . . 18-23

COMPANY INDEX Alio Gold. . . . . . . . . . . . . . . 3 AngloGold Ashanti. . . . . . 9 Austral Gold. . . . . . . . . . . 14 Barrick Gold. . . . . . . . . . . 15 Boliden . . . . . . . . . . . . . . . . 1 California Gold Mining . . . . . . . . . . . . . . 13 Coeur Mining. . . . . . . . . . 14 Connemara Mining. . . . . . 6 eCobalt Solutions. . . . . . . . 7 First Cobalt. . . . . . . . . . . . . 7 Fortuna Silver Mines. . . . . 3 Goldcorp. . . . . . . . . . . . . . . 9 Gowest Gold. . . . . . . . . . . 11 Gran Colombia Gold . . . 11 Group Eleven Resources. . 1

Hecla Mining. . . . . . . . . . . 1 Hochschild Mining. . . . . . 9 Hunt Mining. . . . . . . . . . . 14 Iamgold. . . . . . . . . . . . . . . . 9 Kirkland Lake Gold. . . . . 15 Klondex Mines. . . . . . . . . . 1 MAG Silver. . . . . . . . . . . . . 6 Marathon Gold. . . . . . . . . 11 McEwen Mining . . . . . . . . 9 Mirasol Resources. . . . . . . 9 Mustang Minerals. . . . . . 16 New Age Metals. . . . . . . . 16 New Dimension Resources. . . . . . . . . . . . 14 New Gold . . . . . . . . . . . . . 15 Newrange Gold . . . . . . . . 11

Northern Star Resources. . . . . . . . . . . . 15 OceanaGold. . . . . . . . 11,14 Pan American Silver. . . . 14 Patagonia Gold. . . . . . . . . 14 Regulus Resources. . . . . . 11 Reunion Gold. . . . . . . . . . 11 RoxGold . . . . . . . . . . . . . . 11 Rye Patch Gold. . . . . . . . . . 3 Sandstorm Gold. . . . . . . . 14 Shenzhen Zhongjin Lingnan Nonfemet. . . . . 1 Superior Gold. . . . . . . . . . 15 US Cobalt. . . . . . . . . . . . . . 7 Victoria Gold. . . . . . . . . . 11 Yamana Gold . . . . . . . . . . . 9

Fifty years of ‘free’ gold COMMENTARY

| Private gold window in U.S. closes during critical months in 1968

BY JEFFREY M. CHRISTIAN Special to The Northern Miner

t is difficult to say when the ‘free’ gold market came into existence, since there always has been one. Yes, the gold price has been set and fixed by governments for long periods of time throughout history, as part of various types of gold standards. However, gold prices always have fluctuated around those official prices. Setting such nuances aside, the modern gold market was born 50 years ago this March when the free or private gold price spun out of the control of central banks and governments. A more accurate description is that the fixed dollar-gold exchange rate that existed in the period from World War Two became too expensive and economically destructive for governments to maintain, so they let it go. The process of letting go started in March and April 1968. The change came in two big moves in March and April 1968: The closing of the London Gold Pool and the closing of the U.S. Treasury’s private gold window, through which non-governmental people and entities traded dollars for gold held by the Treasury. Central banks closed the London Gold Pool and stated they no longer would trade gold and currencies in the open market in an attempt to keep the market price of gold in line with the official US$35 per oz. price at which central banks traded gold among themselves. Efforts to keep the two prices aligned had cost central banks hundreds of millions of gold ounces and billions of dollars from the late 1940s through 1968. In March and April 1968 they gave up trying. A bit of historical background helps explain all of this. As just stated, a free gold market always existed parallel to any official gold standards and gold policies. At times the free gold market was illegal, but at other times it just was there. As World War Two was winding down the global community created the International Monetary Fund at Bretton Woods in 1944 and established what would be a post-war international currency system centered on a U.S. dollar that was convertible to gold at US$35 per ounce. Other currencies were convertible into U.S. dollars at fixed exchange rates. As the post-war era proceeded and economies grew at different

paces, the fixed exchange rate system caused monetary crisis after monetary crisis. During this time a few countries allowed private ownership of gold. As the 1960s progressed, most European countries opened up free private gold markets. The U.S. followed suit on Dec. 31, 1974. Under the Bretton Woods system there were two ways in which the U.S. dollar was exchangeable into gold. One was the official public gold window through which national treasuries, central banks, monetary authorities and ministries of finance could exchange their dollars for gold at US$35 per ounce. The other was the private gold window, which allowed nongovernment holders of gold to exchange dollars for gold. There was a massive drain on U.S. gold reserves under the Bretton Woods dollar-gold standard. U.S. Treasury gold holdings totalled 652 million oz. in 1950. By 1960 they were down to 508.7 million ounces. By the end of 1967 they were down to 344.7 million ounces. The first quarter of 1968 saw a massive monetary and financial crisis, not accidentally coincidental to the Tet Offensive in Vietnam and major political problems in the United States. Governments and private entities turned in US$1.17 billion dollars in exchange for 33.5 million oz. from January into April 1968. This led to a series of changes in the official gold market. On Sunday, March 17, 1968, an announcement was made that the next day, the London Gold Pool would close. On March 18, the U.S. Congress lowered the gold cover of U.S. dollars in circulation to 25%. U.S. President Lyndon Johnson announced that week that the private gold window was closing and that private entities no longer could directly turn in their U.S. dollars in exchange for Treasury gold. The date of the decree is lost to history, a scouring of the Internet indicates, but the decree was made in the second half of March, and was effective in April 1968. — Jeffrey M. Christian is managing director of CPM Group. Based in New York City, CPM Group is a commodities research, consulting, financial advisory, asset management and commodities management firm providing independent research, analysis and advisory services related to commodities markets, corporate and project finance and the financial management of exposure to commodities-oriented investments. CPM Group’s 2018 Gold Yearbook may be purchased for US$160 via request to info@cpmgroup. com. Visit www.cpmgroup.com for more information.

2018-03-27 7:08 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / APRIL 2–15, 2018

NWT Minister Schumann appeals for federal infrastructure PDAC 2018 BY RICHARD QUARISA

rquarisa@northernminer.com

he Northwest Territories’ Minister of Industry, Tourism, Investment and Infrastructure Wally Schumann came to the Prospectors & Developers Association of Canada convention in Toronto with a message for the rest of Canada. He believes the Northwest Territories contains a trove of untapped mineral potential, but lacks the funding to build the infrastructure to unlock it. “We had a survey done about a year ago,” Schumann says in an interview with The Northern Miner on the sidelines of the convention. “Eighty-six per cent of Northwest Territories residents support mining. We have a strong jurisdiction on mining, but our biggest problem is our infrastructure deficit.” Schumann says he is asking Canada’s federal government to help fund two all-weather highways. The first would connect the unfinished Mackenzie Valley highway to Sahtu, an area prospective for natural gas and oil. Schumann says it’s also an area that is underexplored for mineral development — in part because of the historic focus on oil and gas — and he believes it holds a lot of potential. If completed, the Mackenzie Valley highway would connect communities in the Northwest Territories from Wrigley in the Dehcho region to the Arctic Coast.

| Says pushback against mining comes from outside territory

Miners and mineral explorers in the Northwest Territories largely rely on winter roads for site access. “What people don’t realize is that it’s $20 million a year that melts in April,” Schumann says. An independent study conducted in 2009 by consulting company Terra Firma investigated the economics of the highway, including the lower economic activity from not having to build a winter road each year. It noted, however, that in the longterm the highway could benefit the region by promoting tourism; reducing freight costs and consumer prices; and promoting mineral and gas exploration and development. Schumann also wants to see an all-weather highway that connects the Slave Geological Province with Nunavut’s Grays Bay Road and Port Project (GBRP). GBRP is an unfinished, 227 km, all-season road linking the northern end of the Tibbitt-Contwoyto Winter Road to a deepwater port at Grays Bay on the Northwest Passage. Nunavut’s aim for the highway is to “connect the rich mineral resources of Canada’s Slave Geological Province — which straddles Nunavut and the Northwest Territories — to Arctic shipping routes.” In previous statements made by Schumann to the Northwest Territories government, he asserted that an all-weather road to the Slave Geological Province would encour-

A map of the highways in the Northwest Territories. NWT DEPARTMENT OF TRANSPORTATION

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“I’M PROUD TO SAY THE GOVERNMENT OF THE NORTHWEST TERRITORIES AND THE INDIGENOUS GOVERNMENTS OF THE NORTHWEST TERRITORIES ARE FAR AHEAD OF THE REST OF THE COUNTRY.” WALLY SCHUMANN MINISTER OF INDUSTRY, TOURISM, INVESTMENT AND INFRASTRUCTURE, THE NORTHWEST TERRITORIES

age mineral exploration and help extend the life of existing mines in the region. “I always say to everybody that it would change the gross domestic product of Canada,” Schumann says. “This geological province is as rich — if not richer — than the Ring of Fire in Ontario. If we don’t have this type of investment in our territory that stuff’s going to be locked in the ground forever.” Schumann was elected to the Northwest Territories’ legislative assembly in 2015 and selected for cabinet as the minister of Transportation and minister of Environment and Natural Resources. In 2016 he became the minister of Industry, Tourism and Investment, and in 2017 became the territory’s first minister of Infrastructure. Before that, he was president and vice-president of the Hay River Metis government council.

The airstrip at Nighthawk Gold’s Colomac gold project in the Northwest Territories. NIGHTHAWK GOLD

“I’ve actually been on both sides,” he says. “And I’m probably one of the few politicians in this whole country who’s been on both sides of this issue.” Still, he says that since becoming minister, the biggest obstacle he has encountered trying to grow the Northwest Territories’ mining industry is the lack of knowledge about the territory and its residents from people who don’t live there. “You’re continuously educating people every day on where we are and what we do, and what’s there,” he says. “But the other side of it is that a lot of people didn’t even know devolution took place.” The Northwest Territories Devolution Act came into effect on April 1, 2014, and gave more control from the federal government to the Northwest Territories government over land and resources. The act includes a revenue-sharing plan that aims to “ensure that Northwest Territories’ residents and aboriginal groups directly benefit from the responsible development of the region’s resource potential.” “I’m proud to say the government of the Northwest Territories and the indigenous governments of the Northwest Territories are far ahead of the rest of the country,” Schumann says. “And I remind Canada all the time to look at the Northwest Territories and how we do this, because we are unique compared to the rest of the country.” The Northwest Territories operates on a government-to-government basis and has bilateral agreements with indigenous governments that have settled their land claims. Indigenous groups who have signed on to devolution also receive 25% of the royalties from resources produced in the Northwest Territories. “We can’t move stuff through our territory without their participation,” Schumann says. Another challenge Schumann faces is the sentiment that the Northwest Territories “should be a park.” Schumann is adamant that this is not what residents actually want. He thinks a lot of the anti-mining, propark sentiment comes from people who live in cities outside the Northwest Territories, or even outside Canada, trying to push a political agenda centered on environmental

protection and in particular climate change. However, Schumann says no one is more aware of the realities of climate change than residents of the Northwest Territories, who deal with it every day. “Our temperatures have already warmed by four degrees,” Schumann says. “We see shoreline erosion. We have different species moving north. There are invasive species coming, changing the landscape around caribou and all sorts of things.” Schumann says he doesn’t think it is fair for other people to decide what the Northwest Territories should be. According to estimates from Statistics Canada, mining, along with oil and gas industries, accounted for $938 million of the Northwest Territories’ $3.75 billion 2016 gross domestic product. Schumann says that Northwest Territories residents are well aware of the resource industry’s value, and encourages any company interested in the resource sector to use his administration as a first point of contact for exploring the region. “We can help introduce them to the right folks,” Schumann says. “We have lots of parks already, so we need to focus on our economy — because parks ain’t feeding people.” TNM

EVENTS Apr 9-12 Nunavut Mining Symposium Frobisher Inn, Iqaluit, NU Tel: (877) 477-2919 Email: info@ nunavutminingsymposium.ca Website: www.nunavutminingsymposium.ca Apr 24-Apr 25 Canadian Mining Symposium Canada House, London, UK Toll-free Canada/US: 1 (888) 502- 3456 Local: (416-510-6789 Email: tnm@northernminer.com Website: http://www.northernminer.com/ canadian-mining-symposium/ May 6-9 CIM-AGM Vancouver Vancouver Convention Centre, Vancouver, BC Tel: (514) 939-2710 Email: cim@cim.org Website: https://convention.cim. org/2018 Jun 6-7 Canadian Mining Expo McIntyre Community Centre, Timmins, ON Toll- free: 1 (866) 754-9334 Tel: (705) 264- 2251 Email: a.guindon@ canadiantradex.com Website: https:// canadianminingexpo.com

For more event information, please go to: www.northernminer.com/events/

2018-03-27 7:08 PM

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APRIL 2–15, 2018 / THE NORTHERN MINER

Group Eleven starts drilling for zinc in Ireland “THE MAIN MINERALIZING STRUCTURE IN THE LIMERICK BASIN IS NOT YET FOUND ... SO THIS IS THE ALLURING PART OF THE CAMP. THERE’S A BIG MYSTERY TO BE SOLVED HERE: WHERE IS THE MAIN PLUMBING SYSTEM?”

GROUP ELEVEN From 1

the Navan-style target underneath the historic estimate,” he says in a telephone interview with The Northern Miner. Navan is the fifth-largest zinc deposit in the world, and the largest in both Europe and Ireland, weighing in at 100 million tonnes grading 10% zinc. One of the exciting things about Ballinalack for Jaworski is that it has Navan-style pale beds beneath its already drilled, Waulsortian-hosted mineralization. He says Group Eleven realized when it looked at the property that no one had tested beneath the Waulsortian for mineralization. According to Jaworski, Waulstortian limestones host most of the zinc deposits in Ireland. Boliden’s Navan is an exception, where the Waulsortian fades out in favour of pale beds. “This is what makes Ballinalack special compared to other zinc occurrences in the country,” Jaworski says. “We’re in this Goldilocks zone where we have both prospective horizons.” Group Eleven will test Ballinalack’s pale beds with its first drill hole this year. It’s looking to see what happens where the pale beds meet the Ballinalack fault. With the Waulsortian zone, zinc deposits only occur right at the Ballinalack fault. Group Eleven hopes to find the same morphology where the Ballinalack fault intersects the pale beds. Group Eleven formed in early 2015 and looked for land using an Irish government database called Goldmine. Two years later it attracted MAG Silver (TSX: MAG; NYSE-AM: MAG) as a strategic

BART JAWORSKI CEO, GROUP ELEVEN RESOURCES

Group Eleven Resources’ management, from left: Bart Jaworski, CEO; John Barry, vice-president of exploration strategy; and David Furlong, COO. GROUP ELEVEN RESOURCES

investor. “That allowed us to credibly talk to other companies, like Teck,” Jaworski says. He says a lot of majors were dropping land in Ireland at the time, and, through this conf luence of factors, Group Eleven acquired Teck’s Ballinalack and Stonepark zinc properties. T he ju n ior’s 1, 2 0 0 sq. k m Stonepark zinc property is located in the Limerick basin and contiguous with Glencore’s Pallas Green, an undeveloped zinc project that hosts 44 million tonnes grading 8% zinc. Group Eleven has a 76.6% interest in the property, with the rest owned by Connemara Mining (LON: CON). “The main mineralizing structure in the Limerick basin is not yet found,” Jaworski says. “So this is the alluring part of the camp. There’s a big mystery to be solved here: where is the main plumbing system?” The company plans to carry out drilling over the next few weeks to

test for bleeders or feeders into the main system. It wants to run seismic tests at Stonepark as well, but lacks the funding. Before going public the company had attempted to raise $10 million, but could only get $5 million. With that it could drill as much as 11,000 metres, but with other costs to consider, it likely won’t. Jaworski says drilling will be “very iterative and success contingent.” He wants to drill holes at Ballinalack and Stonepark and study the results before determining where to drop future holes. “It’s going to be very much a rifle approach as opposed to a shotgun approach,” he says. The company also has two other zinc properties: Silvermines and Tralee. Silvermines is near the Silvermines zinc mine, which was exhausted in 1982. Tralee is located in the southwestern part of the country and was the first property the company staked in Ireland. Jaworski says it’s located in “one of

A zinc sample from Group Eleven Resources’ Ballinalack property in Ireland. GROUP ELEVEN RESOURCES

Published by:

the most overlooked parts of the Irish ore field.” It will become a focus for Group Eleven in the later parts of 2018. “The rule of thumb in Ireland for a zinc deposit is 10 and 10,” Jaworski says. “10 million tonnes at 10%. The reason you can get away with 10 and 10 in Ireland is because you have roads everywhere, you have power everywhere, and you’re very close to tidewater.” The Fraser Institute ranked Ireland #1 for the fifth year in a row in terms of policy attractiveness on its annual survey of mining companies. Jaworski says Group Eleven used this as a selling point to attract financing before the company went public.

“Ireland is not only top-notch geologically, but politically and from a policy perspective, as well,” he says. “It really punches above its weight.” On the Fraser Institute’s overall investment attractiveness index, Ireland has risen to fourth place, up from ninth in 2016. Group Eleven went public in December 2017. Shares of the company are valued at 20¢ within a 52-week range of 20¢ to 40¢. The company has a $7-million market capitalization. “If you look at the reserves of Navan, there are probably only five or six years left,” Jaworski says. “So there’s a big push to find zinc deposits in the country.” TNM

Drillers at Group Eleven Resources’ Ballinalack zinc project. GROUP ELEVEN RESOURCES

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2018-03-27 7:08 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / APRIL 2–15, 2018

First Cobalt and US Cobalt personnel on a site visit to the Iron Creek cobalt property in central Idaho.

FIRST COBALT

First Cobalt to acquire US Cobalt and its Iron Creek project in Idaho M&A

| Junior hopes to fast-track the more advanced project to feed Canadian mill CEO, says in an interview. “Our “WE KNOW MOST OF THE WORLD’S COBALT IS MINED IN BY TRISH SAYWELL vision is North American cobalt tsaywell@northernminer.com THE DRC AND REFINED IN CHINA, BUT WE WANT TO FIND IT from end to end.” he proposed acquisition If shareholders approve the trans- AND REFINE IT IN NORTH AMERICA AND SELL IT TO NORTH of a junior explorer with a action, it will be First Cobalt’s third cobalt project in Idaho will big acquisition since late last year, AMERICANS. OUR VISION IS NORTH AMERICAN COBALT FROM give Canada-focused First Cobalt when it acquired Cobalt One and END TO END.”

(TSXV: FCC; US-OTC: FTSSF) a footprint in the U.S. and burnish its reputation as a pure-play cobalt company, with assets outside the Democratic Republic of the Congo. First Cobalt will acquire US Cobalt (TSXV: USCO; US-OTC: USCFF) in a friendly all-share deal worth $149.9 million. Once the transaction closes, First Cobalt and US Cobalt shareholders will own 62.5% and 37.5% of the combined company on a fully diluted, in-themoney basis. “We know most of the world’s cobalt is mined in the DRC and refined in China, but we want to find it and refine it in North America and sell it to North Americans,” Trent Mell, First Cobalt’s president and

CobalTech. Now the company controls over 100 sq. km of prospective land and 50 historic mining operations in the Cobalt area of Ontario. It also owns a mill and cobalt refinery 25 km from its KeeleyFrontier project. The Yukon refinery is one of only four facilities in Canada that is environmentally permitted to treat and process ore containing arsenic, and the only one in North America with no limits on processing or storing arsenic from feeds. First Cobalt has had its sights on US Cobalt’s Iron Creek cobalt property in central Idaho since October 2017 for three reasons: it’s in North America; its geology is favourable and easily understood; and it can

Drill core from US Cobalt’s Iron Creek project in Idaho. US COBALT

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TRENT MELL PRESIDENT AND CEO, FIRST COBALT

be fast-tracked into production and provide feed for its refinery in Ontario. Iron Creek has a historic resource of 1.3 million tons (1.2 million tonnes) grading 0.59% cobalt, and Mell expects a National Instrument 43-101 compliant resource estimate to be calculated by year-end. Mell notes that while First Cobalt’s assets include almost half of the historic mining properties in the Cobalt camp of Ontario, where its exploration team has confirmed 15 targets already, it’s at an earlier stage and the company still has a lot more work ahead to understand the geology and structural controls of a camp that mined high-grade silver underground. The Ontario properties also contain five elements — silver, cobalt, nickel, bismuth and arsenic — which makes it more complex, Mell says, adding that the company probably won’t have its first resource estimate out until 2019. By contrast, US Cobalt’s Iron Creek project is in a well understood geological setting and already has a historic resource estimate. “In Idaho, you have these specific lenses, and once you’re in them, it’s

pretty straightforward to drill them out,” the mining executive says. “We have a massive land position in Ontario and the potential there is really good, but over the shorter term, US Cobalt is a smaller footprint with real resource potential, and it could go out well beyond the historical estimate.” Iron Creek — 42 km from the town of Salmon and 29 km southeast of eCobalt Solutions’ (TSX: ECS; US-OTC: ECSIF) feasibility stage Idaho cobalt project — initially drew interest in 1946 as an iron prospect. Hana Mining explored for copper at Iron Creek in the 1970s, while Inspiration Mines, Cominco and Noranda Exploration all finished work programs there in the 1980s and 1990s. It was Noranda that put together the historic resource estimate. Since US Cobalt took over, the company has drilled 10,600 metres from surface, rehabilitated two of its three adits and started drilling underground. Underground workings in the three adits total 450 metres. The first adit cuts the eastern part of the mineralized zone, and the second

adit is cut along strike of the mineralized zone in the west. Highlights from US Cobalt’s drill program include hole 17-19, which was drilled between the first and second adit on the western part of the mineralized zone where the historic resource was calculated, and 15 metres below the level of the second adit. The hole returned 16.5 metres starting from 36.9 metres downhole averaging 0.34% cobalt and 0.54% copper, including 6.1 metres of 0.43% cobalt and 0.30% copper. Hole 17-29, which was drilled below the first adit, returned 30.5 metres from 113.1 metres downhole, averaging 0.35% cobalt and 0.53% copper, including 6.1 metres of 0.52% cobalt and 0.94% copper. “The two adits are some distance apart and they’re successfully drilling in the gap between adit one and adit two, and they’ve also tested the western extent of known mineralization and had some great hits,” Mell says. If Iron Creek becomes a mine, it could cost US$125 per tonne to ship See FIRST COBALT / 8

2018-03-27 7:08 PM

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APRIL 2–15, 2018 / THE NORTHERN MINER

First Cobalt’s permitted cobalt refinery in northern Ontario, where the company envisions processing ore from the Iron Creek project in Idaho. FIRST COBALT

First Cobalt to acquire US Cobalt, Iron Creek project in Idaho the next few months. Under the transaction announced on March 14, all of the issued and outstanding shares of US Cobalt would be exchanged on the basis of 1.5 of a First Cobalt share for each US Cobalt common share, representing a 61.8% premium to US Cobalt’s closing share price as of March 13, and a 58.5% premium based on the five-day, volumeweighted average trading prices of

FIRST COBALT From 7

concentrate by rail from Idaho to its refinery in Ontario, Mell estimates. “The freight cost on a tonne of copper-cobalt concentrate is quite manageable,” he says. In the meantime, First Cobalt is evaluating what it would cost to recommission its refinery and expects to have the results of some of its early engineering studies in

both companies. Mell says the management teams of both companies recognized the deal’s strategic nature and its upside. “We know their management team. We’ve all been in the industry for a bunch of years, and like the three-way merger last year, it’s refreshing to do a transaction with a management team that is not entrenched, which can kill good business ideas,” he says. “It was about,

‘this makes sense,’ and once again we could pull it off because we had an enlightened group of executives who didn’t mind walking away.” Mell says there are 100 juniors with an interest in cobalt that have popped up over the last year to ride the wave of electric-vehicle batteries and smartphones, but says many will have a hard time succeeding. “A lot of them are floundering — there are just too many of them,” he

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says. “Our vision has always been to become a meaningful player and we’re acquiring what will be our third company. We have no issue with capital and we’re serious about our objectives. People are now coming to us with their best ideas, and it’s working out very nicely.” First Cobalt has $29 million in its treasury and a 2018 budget of $10 million. The company is debt-free. Mell forecasts a shortage of cobalt over the next five years. The cobalt price jumped 109% last year, making the metal “the star performer among its peers,” Wood Mackenzie said in a recent research note. “Cobalt prices have surged higher in the early part of 2018,” the consulting firm noted, “with the LME cash price averaging US$80,875 per tonne over February — up 4.4% from January levels and 133% yearon-year.” Wood Mackenzie noted that the DRC accounted for 64% of 117,000 tonnes of global cobalt production in 2017, and that a revised mining code in the African nation “has the potential to seriously affect mining projects under way in the country, which is so crucial to the cobalt story.” “Cobalt demand totalled 104,000 tonnes last year — 49% of which was from the battery sector — and will grow by an additional 9% this year to reach 113,000 tonnes,” Wood Mackenzie said. “By 2022, we forecast cobalt demand from batteries alone to reach 98,000 tonnes — or 61% of the cobalt market.” But the consulting firm also expects that incremental supply from Glencore, ERG and others will create “significant surpluses in the years 2019 to 2022,” which “will likely keep a cap on price levels.” “ Fo l l ow i n g a n ave r a g e o f US$70,548 per tonne this year, we expect prices to ease back to US$55,116 per tonne in 2019, before falling further to a low of US$33,069 per tonne in 2020 and 2021.” TNM

2018-03-27 7:08 PM

SPECIAL FOCUS

GLOBAL GOLD Artisanal miners and drill rigs at Orca Gold’s Block 14 gold project in Sudan. PHOTO BY RICHARD QUARISA.

Iamgold turns around Rosebel in Suriname

Discoverytakeover cycle continues in Deseado Massif

SITE VISIT

| Saramacca discovery tops 1.5M oz. gold, set to produce in 2019

GOLD-SILVER

| Argentina’s Patagonia region remains hotbed for explorers and developers BY BRIAN SYLVESTER Special to The Northern Miner

irasol Resources (TSXV: MRZ), a precious metals explorer using the prospect-generator model, says prospecting along the Resolution trend at its wholly owned Nico property in the Deseado Massif region of Santa Cruz province, Argentina, has yielded rock chip assays of 528 grams silver per tonne and 5.73 grams gold per tonne, which could be part of a silver-rich epithermal sulphidation system. In fact, Mirasol says Resolution “represents an attractive drill target for bulk-mineable, gold-silver mineralization.” Without further drilling no one knows for certain, but it wouldn’t be the first — or the second. The Deseado Massif ’s unique geology has a knack for hosting shallow, world-class gold-silver deposits. “The geologic province hosts high- and low-grade, low-sulphidation epithermal precious metal deposits related to Jurassic-aged volcanism,” said Brent Cook, geologist and editor of Exploration Insights, a subscriber-based newsletter that follows Mirasol, among other companies. He adds that the Deseado Massif “hosts some big mines, including Cerro Negro and Cerro Vanguardia.” Cerro Negro is in the northwest corner of the Deseado Massif, 20 km south of the San Jose underground gold-silver mine, owned 49% by McEwen Mining (TSX: MUX; NYSE: MUX), with Hochschild Mining (LON: HOC; USOTC: HCHDF) owning the rest. Goldcorp’s (TSX: G; NYSE: GG) Cerro Negro produced 452,000 oz. gold in 2017, which amounted to almost 20% of the company’s revenue and 14% of gold production. And it’s not about to wane. Goldcorp guidance pegs Cerro Negro’s 2018 production at 490,000 oz. gold at all-in sustaining costs (AISCs) of US$600 per ounce. The major acquired the asset after a US$3.6-billion takeover of Andean Resources in 2015. Meanwhile, AngloGold Ashanti’s (NYSE: AU) 92.5%-owned Cerro Vanguardia gold-silver mine in Magallanes, Santa Cruz — the “old man” among the Santa Cruz gold mines — has produced for 17 years and in 2016 turned out 281,000 oz. gold at AISCs of US$773 per ounce. State-owned Formicruz owns 7.5%. Yamana Gold ’s (TSX: YR I; NYSE: AUY) 2018 entrant into the fray, Cerro Moro, situated 70 km southwest of the coastal city See DESEADO MASSIF / 14

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Escorting a tour of the Rosebel gold mine in Suriname in September 2017: Suresh Kalathil, general manager of the Rosebel mine (front, second from left, sunglasses) and Gordon Stothart, chief operating officer at Iamgold (front, second from right). PHOTO BY JOHN CUMMING BY JOHN CUMMING jcumming@northernminer.com PARAMARIBO, SURINAME

nly a few years ago during the depths of the mining industry downturn, Iamgold (TSX: IMG; NYSE: IAG) had on its hands with its Rosebel open-pit gold mine in Suriname an aging, high-cost operation that faced closure in 2018, as costs were projected to rise well above the prevailing gold price. But the intermediate gold producer didn’t give up on the ailing asset and instead embarked on a major operational turnaround that squeezed efficiencies out of virtually every aspect of the business. This improved productivity per worker and droppend all-in sustaining costs (AISCs) at Rosebel from break-even levels or worse to well below spot prices. It also brought millions of gold ounces into reserves and resources. The Rosebel mine has been transformed into a profitable, cornerstone asset for Iamgold, which also has operating gold mines and major development assets in Burkina Faso, Mali, Quebec and Ontario. Rosebel’s mine life now extends to 2028 and beyond, based on resources and reserves recalculated in mid-2017 to total 11.8 million oz. gold within the

Rosebel mine property — joining the rarified group of gold deposits worldwide that surpass the 10 million oz. mark. And this comes on top of the 4.8 million oz. gold that has already been mined at Rosebel from eight pits exploiting gold deposits occurring along two large trends that intersect

in a large “V” pointing east. The northern mineralized trend has a 12 km strike length and hosts the Pay Caro, East Pay Caro, Koolhoven and J-Zone deposits, while the southern trend has a 15 km strike length and hosts the Mayo, Royal Hill and Roma deposits. In 2017 Rosebel became Iamgold’s

lowest-cost mine, with an AISC of US$931 per oz. gold for the year, versus US$957 per oz. at Essakane in Burkina Faso and US$972 per oz. at Westwood in Quebec. In terms of attributable production in 2017, Iamgold’s gold output See IAMGOLD / 10

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2018-03-27 7:08 PM

GLOBAL GOLD

APRIL 2–15, 2018 / THE NORTHERN MINER

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Iamgold turns around Rosebel in Suriname IAMGOLD From 9

was 302,000 oz. gold from Rosebel, where operator Iamgold holds a 95% stake and the Surinamese government owns the rest; 389,000 oz. from 90%-owned Essakane; 125,000 oz. gold from wholly owned Westwood in Quebec; and 66,000 oz. gold from joint ventures. This adds up to 882,000 oz. gold produced to Iamgold’s account in 2017 at total cash costs of US$755 per oz. and an AISC of US$1,003 per oz. gold. For 2018, Iamgold is guiding attributable production of 850,000 to 900,000 oz. gold worldwide, divided between Rosebel (295,000 to 310,000 oz. gold); Essakane (380,000 to 395,000 oz. gold); Westwood (125,000 to 135,000 oz. gold); and joint ventures (50,000 to 60,000 oz. gold). Iamgold plans to spend US$345 million on capital expenses at its owner-operated mines in 2018, split between Rosebel (US$130 million), Essakane (US$150 million) and Westwood (US$65 million). The Rosebel mine is 110 km by mostly paved road south of the capital city Paramaribo, and located just north of the Brokopondo Reservoir and its Afobaka power dam. Iamgold buys power from the dam, with power supplemented by a 5 MW capacity solar array on-site. Rosebel entered full production in 2004 and was bought by Iamgold in 2006, when it acquired Montrealbased gold miner Cambior, which had built Rosebel using equipment from its similar-scale Omai openpit gold mine next door in Guyana, which Cambior closed in 2005 after producing 3.7 million oz. gold over 13 years. (The Omai mine property — which for a time was South America’s largest gold mine — is now held by Toronto-based, unlisted Mahdia Gold, which plans to resume exploration on the site.) During a visit by The Northern Miner to the Rosebel mine in September 2017, Rosebel’s general manager, Suresh Kalathil, told visitors during a presentation that “we have a very strong management team at the mine that we have been building for the past three years. The team members are very competent and have been blending very well. They are thinking creatively and are very open to innovation and change.” Kalathil is a “black belt” in the Six Sigma system of process improvement, and sees deep value in a mining company committing to continuous improvement in all aspects of its business. “A lot of work has gone into building a strong foundation at Rosebel since 2013–2014, when we only had three and a half years of mine life left, up to 2018,” Kalathil said. He described the Rosebel team as intensely focused on what he calls

Tanks at Iamgold’s Rosebel gold mine and mill in Suriname. PHOTO BY JOHN CUMMING

the “five pillars of performance” at the mine: health and safety, productivity, cost, life-of-mine and cash flow. “If you saw the entire process of transformation, it has been a very aggressive change in the way that we operate,” Kalathil said. “We were very open to ideas, very open to change and very open to having performance be metrics-driven, so that you can measure what you can control.” Kalathil got the ball got rolling at Rosebel in 2014 with a 40-week initiative to implement the best systems in drill-and-blast, loadand-haul, mine maintenance, mill maintenance, equipment and people. Iamgold laid off a large contingent of hourly employees at the mine in 2015 (in a year the Suriname dollar was devalued in steps versus the U.S. dollar from US30.3¢ in November to US13¢ a year later), and in 2016 struck a new labour agreement with the remaining workers that included pay structures directly related to performance. In 2013, the Rosebel workforce comprised 973 hourly workers, 492 staff and 65 expatriate personnel. By 2016, the workforce was cut to 691 hourly workers, 458 staff and 43 expats in the same year that saw record tonnage milled. Yet for all of 2016, the Rosebel operation mined the highest tonnes on record (64 million tonnes), including record numbers for hard rock and transition rock; mined at the lowest cost per tonne in five years; recorded the lowest general and administrative costs in five years; and spent the lowest sustain-

ing capital in five years. As a result, Rosebel’s AISCs dropped below US$1,000 per tonne for the first time in four years in 2016, after it had peaked above US$1,500 per oz. a few years earlier on a likefor-like basis — well above the gold price. More optimization at Rosebel in 2017 included: lower cyanide and grinding media consumption; better procurement practices; improving accuracy and productivity of drilling and blasting activities; making loading and hauling practices more efficient; strategic fixed-asset management and more disciplined capital expenses; redoing precrush and liner configuration to increase mill run rates and capacity; improved ore fragmentation and lower mining dilution; and optimizing mill feed blend and carbon-in-leach configuration, as mining changes over to accommodate mostly hardrock ores, as saprolitic and transition ores are depleted. “It’s very important to promote a ‘business-excellence’ culture,” Kalathil continued. “With that culture and the associated metrics and benchmarking, you’re able to tell employees where we are, where we want to go, what’s the gap, what’s the action plan, and how are we going to get there. It’s very clear what the vision is, it’s definitive, and employees are kept informed.” Jerry Finisie, Rosebel’s sustainability manager, told the visitors that the mine had established good relations with the seven closest local communities, with most of the local population being Maroons. Finisie said the mine has local procurement,

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High-grade core from Iamgold’s Saramacca gold project in Suriname, located 25 km south of the Rosebel mill. PHOTO BY JOHN CUMMING

employment and training initiatives, and is committed to “maintaining sustainable relationships based on trust.” Michel Payeur, the manager of mine technical services at Rosebel and a former superintendant of mine operations at Essakane, emphasized to visitors that Rosebel’s transformative resource and reserve expansion and life-of-mine extension over the past year “wouldn’t have been possible without the fundamental work that had been ongoing on the cost structure of the Rosebel mine proper. We could have tried this initiative two, three, four years ago, but to no avail because of a cost structure that wouldn’t have allowed the life-of-mine improvements we see today.” At the end of 2017, on a 100% basis, Rosebel hosted proven reserves of 23.1 million tonnes grading 0.6 gram gold for 479,000 contained oz. gold; and probable reserves of 84.4 million tonnes at 1.1 grams gold for 3.03 million contained oz. gold. Most of the reserves are in the Pay Caro, East Pay Caro, Royal Hill and Rosebel pits, which Payeur said are “carrying forward the mine plan at Rosebel.” The resources on a 100% basis, inclusive of reserves, were: 45.6 million measured tonnes at 0.7 gram gold (1.06 million contained oz. gold); 254 million indicated tonnes at 1 gram gold (8.04 million contained oz. gold); and 86.5 million inferred tonnes at 1 gram gold (2.7 million contained oz. gold). The reserves were calculated using a US$1,200 per oz. gold price, while the resources used a US$1,500 per oz. figure. This translates to 11.8 million

“WE THREW EVERYTHING OUT ON THE TABLE AND ASKED OURSELVES: ‘WHAT DO WE NEED TO DO TO MAKE IT BETTER?’” MICHEL PAYEUR MANAGER OF MINE TECHNICAL SERVICES AT ROSEBEL, IAMGOLD

contained oz. gold in all categories at Rosebel on a 100% basis. “We’d been operating here since 2004 and knew what was out there in terms of resources and reserves,” Payeur said. “And yet we always felt as a team there was a lot of potential at Rosebel — there’s more out there — but we needed to tap into it and think it through in a different way. “To do that, you can’t attack it in a way you normally attack it. We threw everything out on the table and asked ourselves: ‘What do we need to do to make it better?’” Payeur said that meant starting See IAMGOLD / 12

2018-03-27 7:09 PM

GLOBAL GOLD

GLOBAL MINING NEWS

THE NORTHERN MINER / APRIL 2–15, 2018

GLOBAL GOLD SNAPSHOT

Nine explorers and miners pushing forward with new projects With gold prices remaining strong over the past couple of years and showing no signs of abating, gold exploration and mine development are in high gear, with substantial projects and new mines underway across the globe. Here is a look at nine companies, from micro-cap to intermediate producers.

Regulus has many other early stage exploration projects in Argentina, Peru, Nevada and British Columbia. REUNION GOLD Reunion Gold (TSXV: RGD; US-OTC: RGDFF) has as its executive chairman veteran mine finder and global gold explorer David Fennell, and as its president and CEO seasoned mine engineer Réjean Gourde. Reunion is exploring for gold in Fennell and Gourde’s old stomping grounds in the French Guiana and Guyana portions of the gold-rich Guiana Shield.

GOWEST GOLD Gowest Gold (TSXV: GWA; US-OTC: GWSAF) is building the next gold mine in Ontario’s prolific Timmins gold camp. The Toronto-based junior is steadily advancing what it calls its North Timmins gold project with an eye to achieving commercial production in 2019 at a rate of 50,000 oz. gold a year. The project involves building an underground mine at its Bradshaw deposit north of Timmins and just east of the Kidd Creek property, and carry out milling at the existing Redstone flotation mill southeast of the city, which is coowned with Northern Sun Mining on a fifty-fifty basis. In February Gowest signed an agreement to sell gold concentrate produced from Bradshaw to Shandong Humon Smelting of China, with Humon having advanced US$3 million to Gowest as a prepayment for the planned delivery and sale of gold concentrate produced as part of Gowest’s ongoing advanced exploration and bulk-sampling program. Gowest says that bringing new ore feed from the zones it is exploring near the Bradshaw deposit could boost its annual production to 100,000 oz. gold. According to a 2015 study, Bradshaw hosts a probable reserve of 1.8 million tonnes grading 4.82 grams gold per tonne for 277,000 contained oz. gold. There are another 2.1 million indicated tonnes grading 6.19 grams gold (422,000 oz. gold) and 3.6 million inferred tonnes of 6.47 grams gold (755,000 oz. gold). GRAN COLOMBIA GOLD What company is the biggest gold and silver producer in Colombia? It’s Colombia-focused, Torontobased Gran Colombia Gold (TSX: GCM; US-OTC: TPRFF), with several underground mines and two processing plants at its Segovia and Marmato operations. Gran Colombia is in the midst of an expansion and modernization project at its flagship, high-grade Segovia operations in Antioquia Department, which produced 148,649 oz. gold in 2017, up 18% from 2016. At Marmato in Caldas Department, Gran Colombia produced 25,162 oz. gold in 2017, up 7% from 2016. In October, the company announced it would change focus at Marmato from open-pit mining to underground operations. In 2017, Gran Colombia produced a guidance-beating 173,821 oz. gold from both operations, up 16% from 2016. In January 2018 alone, Gran Colombia produced a total of 16,700 oz. gold, with Segovia contributing 14,613 oz. and Marmato chipping in another 2,087 oz. gold, which would translate to an annualized rate

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The mill at OceanaGold’s Didipio gold-copper mine in the Philippines. OCEANAGOLD of 200,000 oz. gold.

earmarked for work at Pamlico.

In February, Gran Colombia laid out terms for a proposed US$152million debt financing, with GMP Capital and UBS Securities serving as lead agents.

The Pamlico property shipped ore as far back as 1886, and hosts historic mines, including Pamlico, Central, Sunset, Good Hope, Gold Bar and multiple unnamed mines.

Serafino Iacono, executive cochairman of Gran Colombia, explained the rationale for the financing: “The dilution overhang from our convertible debentures, as many investors have communicated to us, is having an adverse impact on our share price relative to comparable valuations for our peers. For this reason, in light of the current market conditions, we are proceeding with the offering to allow the company to simplify its capital structure, having just one long-term debt instrument, and to enhance shareholder value by capping the potential dilution to existing shareholders through exercise of the new warrants at 18.8 million additional common shares, compared with a range of 18.7 million to 72.1 million additional common shares under the current convertible debentures.”

Newrange started a new round of exploration drilling at the property in February.

MARATHON GOLD Marathon Gold (TSX: MOZ; US-OTC: MGDPF) is advancing its 240 sq. km Valentine Lake gold property in south-central Newfoundland, and says it is “defining the largest gold resource in Atlantic Canada,” with some 2.9 million oz. gold already delineated in all categories. Resources are held in several shallow deposits spread out along a 30 km trend, and the project could see both open-pit and underground mining, with traditional milling and possibly heap-leaching. Led by president and CEO Phillip Walford, Marathon expects to complete a preliminary economic assessment in the second quarter, and then embark on a prefeasibility study.

REGULUS RESOURCES Regulus Resources (TSXV: REG; USOTC: RGLSF) was formed as a spinoff company in December 2010 after Antares Minerals was sold to First Quantum Minerals, with the Antares team that discovered the Haquira porphyry copper deposit reorganizing under the Regulus banner. The Antakori copper-gold-silver project in the Sinchao mining district — 60 km north of Cajamarca in Peru — has since become Regulus’ flagship project. At last count in 2012 by previous owner Southern Legacy Minerals, Antakori held total resources of 294 million tonnes grading 0.36 gram gold per tonne, 10.16 grams silver per tonne, 0.48% copper, 10.69 grams molybdenum per tonne and 0.07% lead. This resource is calculated to National Instrument 43-101 standards. In its most recent reporting of drilling at Antakori released in November, Regulus said it had stepped out 400 metres and intersected 323 metres (from 267 metres downhole) grading 0.52% copper, 0.15 gram gold and 8.28 grams silver.

In French Guiana, Reunion has options to acquire the 84 sq. km Dorlin project (75%), which contains a historical estimate of 1.6 million oz. gold; the 78 sq. km Boulanger project (100%), located 40 km south of Cayenne; and the 122 sq. km Haute Mana project (80%). In Guyana, Reunion is carrying out early-stage exploration in the Northwest District at its Aremu, Arawini and Waiamu projects, where artisanal gold miners have been active. Aremu and Waiamu are 90 km and 45 km from Guyana Goldfields’ Aurora gold mine. Reunion shareholders include Dundee Corp. (16.5%) and Barrick Gold (15%), and the company had $18.7 million in cash at the end of 2017. ROXGOLD Vancouver-based Roxgold (TSX: ROXG; US-OTC: ROGFF) is an emerging gold producer with its new Yaramoko high-grade gold mine in the Houndé greenstone region of western Burkina Faso. Last year was a stellar one for Roxgold, with production of 127,000 oz. gold exceeding increased guidance of 115,000–125,000 oz. gold in its first full year of operations. The cash-operating cost guidance of US$445–US$490 per oz. gold and all-in sustaining cost guidance of US$740-US$790 per oz. are expected within range. With gold sales in 2017 of US$159.4 million, Roxgold ended the year with US$64 million in cash and US$47 million in long-term debt.

An indication of the mine’s high grade came in the fourth quarter, with the head grade at Yaramoko topping 17.6 grams gold per tonne and the gold recovery rate, 99.1%. OCEANAGOLD OceanaGold (TSX: OGC ; US-OTC: OCANF) has major gold mines in New Zealand, the Philippines and South Carolina. The company has had its ups and downs over the years, but celebrated a record full-year net profit of US$172 million in 2017 — including a record quarterly net profit of US$89 million — based on record full-year revenue of US$724 million, including a record quarterly revenue of US$246 million. And that’s not all. OceanaGold has declared its first semi-annual dividend for 2018 of US1¢ per share payable in April 2018, and the second one to come in the fourth quarter. On a consolidated basis from its four mines for 2017, OceanaGold produced 574,600 oz. gold and 18,350 tonnes copper at all-in sustaining costs of US$617 per oz. gold. VICTORIA GOLD Victoria Gold (TSXV: VIT; US-OTC: VITFF) is building a mine at its Eagle Gold project on its Dublin Gulch property in the Yukon, which hosts a reserve of 123 million tonnes grading 0.67 gram gold per tonne, or 2.7 million oz. gold. The Toronto-based junior had company-changing news on March 8 that it had landed an aggregate $505-million financing package, which will fully fund mine construction at Eagle Gold. The financing involves Orion Mine Finance, Osisko Gold Royalties and Caterpillar Financial Services. It holds two credit facilities totalling US$175 million; an equipmentfinancing facility for up to US$50 million; a $98 million royalty financing; and a private placement of Victoria common shares to two separate subscribers for a total of $125 million. The mining rate is planned at 33,700 tonnes per day, producing 1.88 million oz. gold over a 10-year life. TNM

EMPOWERING PEOPLE, EXTRAORDINARY PERFORMANCE TSX: IMG NYSE: IAG

In November 2017, Marathon bought back net smelter return royalties on Valentine Lake held by Glencore for US$8.7 million. NEWRANGE GOLD Vancouver-based Newrange Gold (TSXV: NRG; US-OTC: NRGOF) was founded in 2006 as Colombian Mines Corp. to hunt for minerals in Colombia, but changed gears in July 2016 by acquiring the high-grade Pamlico gold project east of Hawthorne, Nev., and changing its name to Newrange Gold in December 2016. Robert G. Carrington, who cofounded Colombian Mines, still serves as Newrange president and CEO. In March, Newrange raised $738,000 in two private placements of shares and warrants, with funds

IAMGOLD is a mid-tier mining company headquartered in Toronto, Canada with four operating gold mines on three continents. A robust base of strategic assets is complemented by a pipeline of development and exploration projects, a commitment to innovation and a vision for the highest standards of health, safety and sustainability.

IAMGOLD’s strong performance is supported by organic growth catalysts across the Americas and West Africa. The Company’s expansion project at its Surinamese Rosebel mine, Saramacca, has the potential to be one of South America’s most prolific recent discoveries while its Côté Gold project in Northern Ontario is one of Canada’s largest undeveloped gold deposits.

WWW.IAMGOLD.COM

2018-03-27 7:09 PM

APRIL 2–15, 2018 / THE NORTHERN MINER

GLOBAL GOLD

WWW.NORTHERNMINER.COM

Open-pit mining at Iamgold’s Rosebel gold mine in Suriname. PHOTO BY JOHN CUMMING

Iamgold turns around Rosebel in Suriname IAMGOLD From 10

with block models and the geology, and working all the way up to mining processes. “We reoptimitized and rethought the entire process to get a different result,” Payeur said. Gordon Stothart, Iamgold’s chief operating officer, told visitors that the ink on the milestone National Instrument 43-101 report filed in September 2017 that extended the Rosebel mine life to 2028 was the “blood, sweat and tears of Michel and his team. It’s been a long, tough effort to get that out.” “There were all sorts of tears,” Payeur responded with a laugh. “We’re running out of softer, saprolite ore — which we all love and crave. It’s crack for miners. I wake up in the morning shaking, asking: ‘Where’s my saprolite?’” “When we keep our eyes open here at Rosebel, we find more ore,” Stothart added. “We always find more ore.” John Grignon, operations manager at Rosebel, spoke about improvements to the Rosebel mill, commenting that “it’s about not leaving good enough alone — we’re hot-rodding the whole plant.” He noted mill availability was consistently 96% by that point in 2017, up a percent from 2016, and that the US$14-million, secondary crusher project finished in November 2016

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was particularly high return, as was the crusher’s later optimization. Saramacca The icing on the cake for Iamgold at Rosebel is a relatively new, shallow and higher-grade gold deposit called Saramacca, located 25 km south of the Rosebel mill. Saramacca was discovered and explored by Golden Star Resources from 1944 to 2005, and work progressed in a Golden Star-Newmont Mining joint venture from 2006– 2012. Iamgold has drilled Saramacca furiously over the past couple of years (38,700 metres), and has already tallied some 1.5 million oz. gold in shallow resources. The company plans to wrap up the first feasibility study at Saramacca in the third quarter, and bring the deposit into production in 2019. Ore would be trucked on a newly built road to the Rosebel mill. With intense weathering to 100 metres deep at Saramacca and Suriname more broadly, ore from Saramacca would need little milling and would likely be additive Rosebel’s regular annual gold output. During a follow-up interview via Skype in March 2018 with Kalathil and Stothart in Suriname and Iamgold’s senior vice-president of exploration Craig MacDougall in Toronto, MacDougall said the “next chapter at Rosebel is the delineation

Inside the mill at Iamgold’s Rosebel gold mine in Suriname. PHOTO BY JOHN CUMMING

of the Saramacca deposit. We put out the first resource estimate last September, and in less than a year we’ve delineated a million ounces in the indicated category at 2.2 grams, and another half a million ounces in the inferred category at 1.2 grams. And about 60% of that resource is in soft oxide and transition material, which is really what the Rosebel mill is thirsty for, and that can really blend well with its hard rock feed. So that’s a really exciting development for the operation. “We’re at a point where our work on the exploration front is largely done on the deposit, and we’re handing it over to the mine team,” he continued. “And now we get to step out and really start to look at the rest of the potential along that Saramacca trend, which we hope will be equally exciting.” Iamgold, along with Newmont Mining (NYSE: NEM), holds major gold-mining assets in both the Guiana Shield of northern South America and the Leo-Man Shield of West Africa, which is overlain by the gold-rich Birimian rock formation. The entire Guiana Shield, MacDougall added, is “highly prospective,” and he noted the global endowment for the shield is some 180 million oz. gold. “And if you reconstruct it with West Africa, to which it was once attached, the entire endowment is around 500 million oz. gold. “Of course, we have assets on both sides, we’re very at home in that geology, and it’s a great place to be looking. Both sides have their own exploration hurdles to get past, but the endowment is there and the prize is big.” One upside of the Guiana Shield’s dense jungle and deep weathering, MacDougall said, is that there “remains a lot to be discovered because of the difficulty in doing it. So if

Dumping ore at the Rosebel gold mine. PHOTO BY JOHN CUMMING

you’re motivated and put the effort in, you’re going to be successful — there’s no doubt about it. But it’s not easy work.” Newmont in Suriname Rosebel lost its title of Suriname’s biggest gold mine in 2017 to Newmont’s Merian mine, which reached commercial production in October 2016, after construction began in August 2014. The Merian mine is located 60 km south of Moengo near the border with French Guiana, and 75 km east from Rosebel (a day’s drive by road). The mine is 75%-owned by operator Newmont and 25% owned by the Suriname government. Newmont expects Merian will produce 400,000 to 500,000 oz. gold annually on a 100% basis in the first five years of commercial operation during an 11- to 13-year mine life. The mine has two pits, a mill, a carbon-in-leach recovery plant and a 44.5 MW heavy fuel oil power plant. On a 100% basis, Merian produced 509,000 oz. gold (381,750 oz. gold attributable to Newmont) in 2017

at an AISC of US$572 per oz. gold. This year, Newmont expects Merian will produce 485,000 to 540,000 oz. gold (365,000 to 405,000 oz. gold attributable to Newmont) at consolidated AISCs of only US$580 to US$630 per oz. gold. This compares with Newmont’s global attributable production in 2018 of 4.9 to 5.4 million oz. gold. The Rosebel and Merian mines are the only commercial mines operating in Suriname, with bauxite mining ending when Alcoa announced in January 2017 that it would close its Suralco alumina refinery and bauxite mines in the country, but keep operating the Afobaka hydroelectric facility that powered them. There remains substantial artisanal gold mining in the country of 559,000 people, which prompted Dubai-based Kaloti Precious Metals to open Suriname’s first gold refinery in Paramaribo in February 2014 as a joint venture with the national government and local gold traders. Rosebel gold, on the other hand, is flown to Europe for refining. TNM

2018-03-27 7:09 PM

GLOBAL GOLD

GLOBAL MINING NEWS

THE NORTHERN MINER / APRIL 2–15, 2018

California Gold drills Queen Specimen in Mariposa GOLD

| Company looks to add second resource at Fremont project

BY RICHARD QUARISA

rquarisa@northernminer.com

a lifornia Gold Mining (TSXV: CGM; US-OTC: CFGMF) is drilling a new target at its flagship, 100%-owned Fremont gold project in Mariposa County, Calif., as it tries to establish a second resource on the property. The new zone, called Queen Specimen, is 750 metres in strike length and located on the northwest part of the Fremont property. The latest results come from a drill program that California Gold began in early December 2017. Highlights include: 1.22 grams gold over 28.4 metres from 115 metres downhole, 0.9 gram gold over 10.4 metres from 158 metres downhole and 1.14 grams gold over 9.2 metres from 219 metres downhole. So far, 4,200 metres have been drilled. If it can secure financing, California Gold will drill 10,500 metres across 60 holes to 180 metres deep. “I’m moving ahead, assuming that we will have the funding in place,” California Gold president and CEO Vishal Gupta says in a telephone interview with The Northern Miner. “We’ve got a group of shareholders that are very loyal and supportive, but my preference would be to not go back to the same guys over and over again, because we’re looking to run this like a public company. My preference would be to get new shareholders in at all times.” California Gold closed a financing for $920,000 in early March. It wants to do another couple of rounds of financing to raise $2.5 million. At that point it would be fully funded to complete its drill program. California Gold bought the Fremont property in 2013 from private owners for $5.5 million. It covers 4 km in strike distance of California’s 200 km long Motherlode gold belt, which was prolific from 1849 right up to the Second World War. “To help with the war effort, all the gold mining equipment was transferred to nickel mines and iron ore mines and tungsten mines to make more artillery shells, tanks and ammunition,” Gupta says. “That killed the gold industry in California.” In the 1980s, a company called Goldenbell Resources leased the Fremont property and completed a full feasibility study based on a resource located within a 1 km strike. Gupta says its non-National Instrument 43-101 compliant resource stood at 1 million oz. gold in a conceptual open pit, and another 1 million oz. gold in a conceptual underground mine beneath the open pit. However, Gupta says that due to a falling gold price, the company never took the project into production. Since acquiring the property, California Gold has redrilled Goldenbell’s open-pit resource. It redefined Goldenbell’s near-surface resource and called it Pine Tree-Josephine. It sits at 9.3 million indicated tonnes grading 1.71 grams gold per tonne for 515,000 oz. gold, plus 7.8 million inferred tonnes grading 1.44 grams gold for 364,000 oz. gold. “Instead of drilling below that resource and coming up with underground ounces, we’re just expanding along strike, and we’re drilling in a second kilometre of strike called the Queen Specimen zone,” Gupta says. He expects that by this year’s third quarter, California Gold will have completed the drill program and released a new resource estimate. He adds that while he would con-

1-16, 23_APRIL2_Main .indd 13

A geophysics crew at California Gold’s Freemont gold property in California. CALIFORNIA GOLD

sider drilling deeper into Pine TreeJosephine, deeper holes are more expensive and more time consuming. “If we’ve got a market cap that is very healthy and a pretty healthy treasury then sure, why not?” he says. The Fremont property is 240 km east of San Francisco and 22 km from the largest population centre in Mariposa County, the town of Mariposa, which is home to 2,000 people — or a tenth of the county’s total population. Gupta notes that if the project went to production it would be the county’s largest employer. He adds that Mariposa County is one of the few counties in the U.S. that is the “lead agent” when it comes to environmental permitting. As a result, he says, there’s a lot of local incentive and community support for the project. “This is like Elko, Nevada,” Gupta says. “This is not ‘California.’ You’ve got the highest conceal and carry gun rates in all of California in this

county. You’ve got 10-gallon cowboy hats worn by everyone. This is not where the rich and famous of California go and build their cottages.” The Fremont property is accessible via highway and hosts an electric substation that Gupta says holds “lots of excess capacity.” The company has a private well on its property and an agreement with the Merced irrigation department, which controls the sale of water from the Merced River, located just north of the property, to buy water for US$200 per 1.2 million litres. “It’s a mixed bag,” Gupta says. “We are in California, which is challenging, but we are on completely private land. And from a permitting perspective that goes a long way.” The company also has its Dingman gold property in southeastern Ontario, 55 km north of Belleville. The company acquired the property in 2010. It has 11.6 million indicated tonnes grading 0.97 gram gold for

Drill core from California Gold’s Freemont project. CALIFORNIA GOLD

361,000 oz. gold, and 1.7 million inferred tonnes grading 0.73 gram gold for 40,000 oz. gold, at a cut-off grade of 0.4 grams gold.

Shares of California Gold are valued at 21¢ with a 52-week range of 20¢ to 64¢. The company has a $10-million market capital. TNM

High-Grade District Scale Gold Project in Garfield Hills Mineral County Nevada Flagship Pamlico project located around historic Pamlico mines on Pamlico Ridge • Focused on establishing a multi-million ounce near surface oxide gold resources. • Phase III drilling program in progress, pending results May 2018. • Proven management and technical team with strong production /exploration track record. • Significant exploration upside at Pamlico Ridge, Merritt Area, Gold Box, Pipes, East Zone – North and East Zone – South. Proven ground. Under explored. Private land. • Significant insider ownership. About Newrange Gold Corp. Newrange is an aggressive exploration and development company focused on near to intermediate term production opportunities in favorable jurisdictions, including Nevada and Colombia. Focused on developing shareholder value through exploration and development of key projects, the Company is committed to building sustainable value for all stakeholders. Further information can be found on our website at www.newrangegold.com.

www.newrangegold.com Fidel Thomas (778) 228–5735 Fidel@newrangegold.com TSXV: NRG US: NRGOF Frankfurt: X6C

2018-03-27 7:09 PM

APRIL 2–15, 2018 / THE NORTHERN MINER

GLOBAL GOLD

WWW.NORTHERNMINER.COM

Discovery-takeover cycle continues in Deseado Massif DESEADO MASSIF From 9

of Puerto Deseado, has a number of high-grade epithermal gold and silver deposits that will be mined by open-pit and underground methods. It could produce 85,000 oz. gold and 3.75 million oz. silver this year and yield 180,000 oz. gold and 7 million oz. silver annually within a few years. Sandstorm Gold (TSX: SSL; NYSE-AM: SAND) has a silverstreaming agreement to buy from Cerro Moro up to 1.2 million oz. silver annually — until it reaches 7 million oz. silver — and 9% of the life-of-mine silver produced afterward. Sandstorm will pay 30% of the silver spot price for each ounce. Sandstorm paid US$70 million to acquire the stream in October 2015. Yamana acquired Cerro Moro when it bought Extorre Gold Mines in 2012 for $400 million. These kinds of company-maker assets lure investors and allow companies to raise cash for exploration. The next stage of exploration at Mirasol’s Nico project will include geological mapping, more chip sampling and geophysical surveys. The results will determine if any targets should be drilled later this year. The junior is exploring a number of other projects in the Deseado Massif with its joint-venture partners, including La Curva and Claudia with OceanaGold (TSX: OGC). Mirasol has had some success with its prospect-generator model. In 2012, it sold its 49% interest in the Joaquin silver-gold project in Santa Cruz to Coeur Mining (TSX: CDM; NYSE: CDE) for US$30 million in cash and another US$30 million in shares. Coeur later flipped Joaquin to Pan American Silver (TSX: PAAS; NASDAQ: PAAS) in 2017 for US$15 million and US$10 million in stock. Pan American is no stranger to the Deseado Massif. It operates Manantial Espejo, a tried and tested open-pit and underground silvergold mine that sits on 17 mineral concessions in the district. The mine started operations in 2008 and Pan American’s guidance suggests the mine should produce another 3.2 million to 3.3 million oz. silver and 28,500 oz. gold in 2018. In 2017, Pan American acquired the Cap-Oeste Sur Este (COSE) high-grade silver project, 180 km

A locally altered rhyolitic flow dome at Mirasol Resources’ Nico gold-silver project in Santa Cruz, Argentina. MIRASOL RESOURCES

THE DESEADO MASSIF’S UNIQUE GEOLOGY HAS AN UNCANNY KNACK FOR HOSTING SHALLOW, WORLD-CLASS GOLDSILVER DEPOSITS. north of Manantial Espejo, from Patagonia Gold (LON: PGD) for US$15 million, plus a 1.5% net smelter return royalty. Pan American is spending US$24 million to build a 1 km underground decline at COSE, which should reach the first stoping area near the end of 2018. The ore would be trucked to Manantial Espejo for processing. The tidy side project is expected to produce 2.02 million oz. silver and 41,400 oz. gold over a year and a half, likely beginning in early 2019. Patagonia Gold, meanwhile, is using the money from the sale to develop its flagship Cap-Oeste

heap-leach project, north of COSE, in the Deseado Massif. Patagonia reports that Cap-Oeste produced 26,005 equivalent oz. gold in 2017 at cash costs of US$711 per equivalent oz. gold. The company expects to more than double production in 2018. Patagonia Gold is also exploring the El Tranquilo, La Paloma, La Manchuria and Sarita projects in the region. Sarita is just north of Hunt Mining’s (TSXV: HMX) Martha mine, which shipped concentrate containing 549,000 oz. silver and 624 oz. gold in 2017. Hunt is using any cash from Martha to develop its La Josephina and

La Valencia gold-silver properties. New Dimension Resources (T SX V: N DRV) re c ent ly acquired 100% interests in the Las Calandrias, Los Cisnes and Sierra Blanca gold-silver projects located in the Deseado Massif from Sandstorm Gold. The portfolio, totalling 860 sq. km, was held by Mariana Resources before it was acquired by Sandstorm in July 2017. Austral Gold (TSXV: AGLD) continues to advance its 135 sq. km Pinguino silver-zinc-lead-goldindium property in the Deseado Massif. Pinguino is part of a large vein system along the Tranquilo Fault. Cerro Vanguardia is situated along the same fault, 35 km south. While more than 70 veins have been found at Pinguino, only 37 have been drill tested. One intercept in Pinguino’s Marte Norte zone hit 6 metres running 476 grams silver per

tonne and 1.08 grams gold, while another in Marta Centro hit 12.7 metres of 141 grams per tonne silver, 0.44 gram gold, 3.3% lead and 6% zinc. So far, 69,500 metres have been drilled on Pinguino, and Austral is working towards a preliminary economic assessment in 2018. Austral secured its interests in both Pinguino and its 70%-owned Casposo silver-gold mine, farther north in San Juan province, when it bought Argentex Mining in 2016. Despite the lengthy list of discoveries and takeovers, Cook says the Deseado Massif probably remains largely underexplored. So, will there be more world-class discoveries? “Yes,” Cook said. “There will be more.” — Based in Toronto, Brian Sylvester is a freelance business writer specializing in mining.

Goldcorp’s Cerro Negro gold mine in Argentina’s Deseado Massif in 2014. GOLDCORP

1-16, 23_APRIL2_Main .indd 14

2018-03-27 7:09 PM

GLOBAL GOLD

GLOBAL MINING NEWS

THE NORTHERN MINER / APRIL 2–15, 2018

A haul truck at Superior Gold’s Plutonic gold mine in Western Australia. SUPERIOR GOLD

Superior Gold expands Plutonic AUSTRALIA

BY TRISH SAYWELL

tsaywell@northernminer.com

n its first year as a public company and gold producer, Superior Gold (TSXV: SGI) churned out 82,019 oz. of the precious metal from its Plutonic mine in Western Australia, and this year the Torontobased junior hopes to boost that number to 100,000 oz. gold. The mine, which has produced more than 5.5 million oz. gold since 1990, was once owned by Barrick Gold (TSX: ABX; NYSE: ABX). The Canadian gold major acquired Plutonic in 2001 through its acquisition of Homestake Mining, and ran it until 2014, when it sold it during an asset purge to Australian producer Northern Star Resources (ASX: NST). Superior Gold took possession of the mine in October 2016 in a cash-and-share deal with Northern Star worth A$42 million, or US$32 million, at current exchange rates. Northern Star is Superior Gold’s major shareholder with a 19.2% stake. The mine started off as an open pit and moved underground, and, according to Chris Bradbrook, Superior Gold’s founder, president and CEO, is the sixth-largest historic gold producer in Western Australia. Last year Plutonic made US$22.2 million in cash flow for the company — enough funds to start the Hermes open-pit development project on the property in July 2017. “We grew the balance sheet and built Hermes from our own cash flow, which is unique in our space as a start-up company,” says Bradbrook, noting that Superior ended the year with US$31 million in its treasury and no debt. Pre-stripping operations at Herme’s Trapper pit began in October and initial processing started in December. Commercial production should kick off soon, and push Superior Gold’s production over the 100,000 oz. mark. Bradbrook, who founded New Gold (TSX: NGD; NYSE-AM: NGD) and Crocodile Gold (now Kirkland Lake Gold [TSX: KL; NYSE: KL]), says Plutonic has ex-

1-16, 23_APRIL2_Main .indd 15

| Gold mine makes enough cash to begin Hermes development

“THERE’S A CHANCE TO CREATE REAL VALUE HERE WITH THE EXPLORATION STORY AND WE CAN SELF-FUND IT THROUGH OUR OPERATION. THE REASON WE BOUGHT PLUTONIC IN THE FIRST PLACE WAS BECAUSE I SAW IT AS A BIG MINE AND A FORGOTTEN MINE INSIDE BARRICK, AND IT WAS A BIG SYSTEM.” CHRIS BRADROOK FOUNDER, PRESIDENT AND CEO, SUPERIOR GOLD

Miners outside a portal at Superior Gold’s Plutonic gold mine in Western Australia. SUPERIOR GOLD

ploration potential within and near the resource, and plans to spend US$5 million in the first half on drilling, and more, if warranted. “There’s a chance to create real value here with the exploration stor y and we can self-f und it through our operation,” he says. “The reason we bought Plutonic in the first place was because I saw it as a big mine and a forgotten mine inside Barrick, and it was a big system.” He points to Kirk land Lake Gold’s experience at Fosterville as an example of how things can change with aggressive drilling. “It was a 4.4 gram gold refractory orebody that was losing money, and basically they got the drills turning and found the Swan Zone, and now it’s a 60-gram gold, freemilling orebody. Now I’m not saying

we’re going to find a 60-gram gold orebody, but when you drill these big systems you typically find more, and sometimes you can find some really interesting stuff.” In March, the company released more results from its underground diamond-drill program from December 2017 through January 2018. Findings from the 10,000-metre, 149-hole program include 187 intersections that found more than 5 grams gold per tonne; 103 intersections that found more than 10 grams gold; 30 intersections of more than 20 grams; and seven intersections of more than 50 grams. “The drilling shows that the system is very strong and we believe it will let us increase the mine life,” Bradbrook says. “When we bought it the reserve life was only one year underground, and we’re looking to

do an update on reserves and resources by the early second quarter of this year and get the underground reserves up to three years, and then move it upwards during the year.” Plutonic has measured and indicated resources of 3.5 million tonnes grading 5.5 grams gold for 620,000 contained oz. gold, and another 5.2 million tonnes grading 4.4 grams gold for 750,000 oz. gold inferred. Proven and probable reserves stand at 600,000 tonnes grading 4.6 grams gold for 82,000 oz. gold. Numerous recent high-grade intersections at Plutonic within and near the resource areas in eight different zones have yielded even more optimism that the company can increase gold production and feed the mill. Highlights include 10.2 metres grading 25.2 grams and 5.2 metres

of 45 grams in the Pacific Zone; 5.7 metres of 19.6 grams and 1 metre of 83.9 grams in the Area 134 Zone; 3.3 metres of 61 grams and 6 metres of 30 grams in the Cortez Zone; 2.9 metres of 42.4 grams in the Caribbean Zone; 7.3 metres of 13.9 grams and 1.1 metre of 50.1 grams in the Caspian Zone; 2.9 metres of 69.3 grams and 7.5 metres of 33.3 grams in the Indian Zone; 2.2 metres of 64 grams in the Baltic Zone; and 0.3 metre of 1,525 grams in the Timor Zone. Meanwhile, at Hermes — a conventional, open-pit operation — the focus so far has been on three pits: Hawkeye, Trapper and Klinger. But potential near-surface exploration includes three other targets: Winchester, Hot Lips and Radar. Hermes has measured and indicated resources of 3.7 million tonnes grading 2.2 grams gold for 260,000 contained oz. gold and inferred resources of 0.6 million tonnes grading 2.5 grams gold for 49,000 contained oz. gold. Proven and probable reserves stand at 1.6 million tonnes grading 2 grams gold for 101,000 oz. gold. “We’ve bought a really good asset for an excellent price — we’ve hit the ground running. We’re making money and building the balance sheet, and have built a project from cash flow, and we’re growing,” Bradbrook says. “We have exploration upside and we’re just getting on peoples’ radar screens, so it’s a brand-new story.” Over the last year, Superior Gold’s shares have traded within a range of 85¢ (November 2017) to $1.32 (March 2018), and at press time changed hands at $1.25 apiece. The company is covered by six analysts who have “buy” ratings on the stock. As recently as Feb. 22, the analysts had target ratings of $1.80 per share (BMO), $2.30 (Cormark), $2.25 (GMP), $1.50 (Haywood), $2.05 (M Partners) and $2.70 (PI Financial). In addition to Northern Star, other shareholders include Sentry Investments (13.5%), board and management (8.7%), Sprott (8.7%), Greywolf (8.4%), Black Rock (5%), RBIM (3.3%) and Hadron (3.3%). TNM

2018-03-27 7:09 PM

WWW.NORTHERNMINER.COM

APRIL 2–15, 2018 / THE NORTHERN MINER

At the Pine Zone discovery hole on New Age Metals’ River Valley PGM property in northern Ontario, from left: Richard Zemoroz, project geologist; Harry Barr, founder, chairman and CEO; and Trevor Richardson, president and COO. PHOTO BY TRISH SAYWELL

New Age Metals updates resource ONTARIO

new resource for the River Valley palladium project brings New Age Metals (TSXV: NAM; US-OTC: PAWEF) one step closer to its goal of building a series of open pits over 16 km of shallow platinum group metal (PGM) mineralization in northern Ontario, where it will be concentrated on-site and shipped to a smelter in Sudbury, the company says. The updated resource estimate — the first since 2012 — incorporates mineralization found in several new

| River Valley is Canada’s largest undeveloped primary PGM resource

zones east of the main resource area, in addition to mineralization on the River Valley Extension, a patch of land south of the main resource that the company acquired from Mustang Minerals (TSXV: MUM) in 2016. River Valley — the largest undeveloped, primary PGM resource in Canada — now has measured and indicated resources of 4.63 million equivalent oz. palladium in 160.7 million tonnes grading 0.44 gram palladium per tonne, 0.17 gram platinum per tonne and 0.03 gram

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1-16, 23_APRIL2_Main .indd 16

gold per tonne. Inferred resources add 2.71 million equivalent oz. palladium in 127.7 million tonnes grading 0.27 gram palladium, 0.12 gram platinum and 0.02 gram gold. The new estimate uses a cut-off grade of 0.4 gram palladium equivalent. If the resource is calculated using a 0.8 gram palladium equivalent, the same cut-off grade used in the previous estimate, PGM and gold ounces jumps 30% and tonnes 17% in the measured category. “It’s exactly what we anticipated, and it’s a substantial increase,” Trevor Richardson, the company’s president and chief operating officer, says in a telephone interview with The Northern Miner from his home in North Bay. “We’re very happy with it, or we would have waited to do more drilling. This is very positive and we’re moving forward.” The company hopes to clear the next hurdle and finish a preliminary economic assessment (PEA) before year-end. “This is a mine and we’re moving forward to developing it,” Richardson says. “For a major to come into us, or for us to go to a major, we need to show the market and the major an internal rate of return and a net present value, and we’re getting close to that.” Richardson, a geologist who has spent most of his career working as a consultant on PGMs in South Africa — specifically on Anglo Platinum’s Bushveld Igneous Complex, the world’s largest PGM deposit — says one of the reasons why River Valley is attracting so much interest is because PGM deposits are typically richer in platinum than palladium. River Valley is the reverse, with a 2-to-1 palladium to platinum ratio. That puts New Age Metals at an advantage, he says, given that current supply-and-demand fundamentals for palladium suggest a looming deficit. Most of the metal is produced in Russia and South Africa. But the mines in South Africa are becoming much deeper and more expensive to exploit.

“ELECTRIC VEHICLES ARE THE FLAVOUR OF THE MONTH, BUT REALISTICALLY IT’S GOING TO BE HYBRIDS, WHICH STILL REQUIRE [PALLADIUM-RICH] CATALYTIC CONVERTERS, AT LEAST FOR THE NEXT 30 YEARS.” TREVOR RICHARDSON PRESIDENT AND COO, NEW AGE METALS

“Palladium was the top trading metal in 2017,” he says. “There’s not a primary palladium project outside of us in Canada other than North American Palladium. Most existing projects outside of North American Palladium are copper and nickel, with some PGMs. We are a primary PGM project, while most other PGM projects have PGMs as their secondary metals.” Palladium is used in pollutioncontrol devices (i.e. catalytic converters) for gasoline vehicles, and Richardson argues that even with the new era of electric vehicles, the metal will stay relevant and needed in meaningful amounts for decades. “Electric vehicles are the flavour of the month, but realistically, it’s going to be hybrids, which still require [palladium-rich] catalytic converters, at least for the next 30 years,” he says, “or until I can drive an EV from North Bay to Toronto. We don’t have a single charging station in North Bay. “There’s absolutely huge interest in palladium and in us,” he continues. “PGMs are not something Canada is familiar with, especially a primary PGM deposit, but our feedback lately has been nothing but positive.” Richardson notes that the project “is a long way from being drilled out,” and the company plans a minimum 5,000 metres this year — about the same amount as in 2017. So far, the focus has been on the contact mineralization, which extends throughout 16 km of the project, he says. But the company’s geologists are equally — if not more excited — about the newly

defined footwall mineralization, on which they have only completed 3,000 metres of geophysics. It was that program that identified the Pine Zone and T3 Zone discoveries. The plan now is to take the geophysics and drilling program from north to south over the entire project area. “Going forward, we’d be looking at extending footwall mineralization at the Pine Zone moving south,” Richardson says. “We did more detailed induced polarization [IP] in the footwall over the winter, and we’re still waiting for the report on that from Abitibi Geophysics, but we’re confident that the mineralization will move in that footwall going south.” Abitibi Geophysics’ high-resolution Ore Vision IP survey can reveal targets at four times the depth of conventional IP without compromising near-surface resolution, the company says, and the recent second phase of the ground IP geophysics at River Valley was done on an area south of the Pine Zone, and over the T4 and T9 target anomalies. The area represents a 2,000-metre strike length. The River Valley intrusive covers 200 km within the Grenville Front Tectonic Zone, a 900-metre-thick, mafic, sulphide-poor layered intrusion. In addition to PGMs and gold, the deposit contains small amounts of copper and nickel, which could count as credits at any future mine. The company is weighing processing options, which include dense media separation to remove the sulphides. The options will be included in the PEA. TNM

2018-03-27 7:09 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / APRIL 2–15, 2018

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17_APRIL2_ProDirectory .indd 17

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2018-03-26 3:22 PM

WWW.NORTHERNMINER.COM

APRIL 2–15, 2018 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / MARCH 19–23 Canada’s benchmark index moved lower and gold moved higher after the U.S. said it would impose US$50-billion worth of tariffs on Chinese exports, and China retaliated with import taxes on US$3 billion of U.S. goods. Worries about a full-blown trade war sent the S&P/TSX Composite Index down 3.10% to finish at 15,223.74, while spot gold jumped US$33.20 per oz., or 2.53%, to US$1,346.80 per ounce. The S&P/TSX Global Gold Index was up 2.5% while the S&P/TSX Capped Diversified Metals and Mining Index tumbled 7.1%. News that the Zambian government believes First Quantum Minerals owes US$8 billion in import duties, penalties and interest on consumables and spare parts sent the miner’s shares plunging 18.1%, or $3.83, to $17.36. In a news release, First Quantum said it “unequivocally refutes this assessment, which does not appear to have any discernible basis of calculation,” and said it “will continue working with the ZRA, as it normally does, to resolve the issue.” Shares of Eldorado Gold — the second most traded — plunged 17%, or 24¢, to $1.17. The company reported a 2017 loss attributable to shareholders of US$9.9 million, or 1¢ per share, compared to a loss attributable to shareholders in 2016 of US$344.2 million, or 48¢ per share. The gold producer posted adjusted net earnings of US$15.2 million, or

2¢ per share, last year, down from adjusted net earnings of US$47.4 million, or 7¢ per share, in 2016. Gross profit from gold mining reached US$121.2 million in 2017, and fullyear gold production came in at 292,971 oz., which included pre-commercial production of 7,061 oz. from a bulk sample at its newly acquired Lamaque project in Quebec. All-in sustaining costs averaged US$922 per oz., slightly higher than guidance of US$915 per oz., while cash operating costs were US$509 per ounce. At year-end, Eldorado had US$485 million in cash and equivalents and term deposits, and US$250 million in undrawn lines of credit. Kirkland Lake Gold rose 93¢ to $20.30 per share. The company announced a quarterly dividend payment of 2¢ per share for shareTSX MOST ACTIVE ISSUES

First Quantum Eldorado Gold B2Gold Kinross Gold Klondex Mines Lundin Mng Barrick Gold Suncor Energy Ivanhoe Mines HudBay Mnls

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

FM ELD BTO K KDX LUN ABX SU IVN HBM

28743 20.87 16.32 17.36 - 3.83 19704 1.43 1.15 1.17 - 0.24 18342 3.79 3.50 3.55 - 0.26 16541 5.01 4.67 4.96 + 0.21 15116 3.14 2.86 3.02 + 1.22 14245 9.09 8.28 8.33 - 0.56 14068 16.24 15.45 16.12 - 0.01 13904 43.95 42.00 42.90 - 0.01 13766 3.07 2.74 2.81 - 0.19 10993 10.27 9.16 9.19 - 1.07

holders on April 13, in its fourth quarterly dividend payment since adopting a dividend policy one year ago. Kirkland Gold is targeting over 620,000 oz. gold production this year from its mines in Canada and Australia. Shares of Altius Minerals climbed $1.03 to $14.01, after it announced it is boosting its stake in Alderon Iron Ore. Altius is acquiring 18.8 million common shares of Alderon from Liberty Metals & Mining Holdings, bringing

its total holdings in Alderon to 51.88 million shares, or 39% of the company. Alderon owns a 75% stake in the Kami iron ore project in Labrador, Canada. Altius holds a 3% gross sales royalty from selling the Kami deposits into Alderon. An updated preliminary economic assessment of the open-pit mine and concentrator outlined a 24-year mine life, with projected output of 7.8 million tonnes of concentrate grading 65.2% iron. TNM

TSX GREATEST PERCENTAGE CHANGE

Klondex Mines TriMetals Mng Corvus Gold Intl Tower Hil eCobalt Solns Serabi Gold Yorbeau Res First Mg Fin Wesdome Gold NovaGold Res RTG Mining Century Global First Quantum Morumbi Res Eldorado Gold St Augustine Laramide Res Timmins Gold Taseko Mines Atlatsa Res

KDX TMI KOR ITH ECS SBI YRB FF WDO NG RTG CNT FM ASND ELD SAU LAM ALO TKO ATL

15116 335 464 96 5675 225 2556 3053 1757 1197 55 46 28743 302 19704 576 1915 2717 1491 1067

3.14 2.86 3.02 0.23 0.17 0.21 2.13 1.70 2.10 0.71 0.58 0.71 1.70 1.36 1.65 0.07 0.06 0.07 0.04 0.04 0.04 0.49 0.41 0.46 2.01 1.74 1.96 5.99 5.10 5.96 0.17 0.14 0.14 0.24 0.00 0.19 20.87 16.32 17.36 1.13 0.91 0.91 1.43 1.15 1.17 0.03 0.03 0.03 0.31 0.25 0.26 3.08 2.23 2.66 1.78 1.50 1.51 0.04 0.04 0.04

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

TSX GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Agnico Eagle Klondex Mines Detour Gold Altius Mnrls Kirkland Lake Pan Am Silver Seabridge Gld SSR Mining NovaGold Res Fortuna Silvr Nutrien First Quantum Teck Res Teck Res Nexa Resources Labrador Iron HudBay Mnls Cameco Corp Franco-Nevada North Am Pall

67.8 23.5 18.6 18.3 17.0 16.7 14.3 12.2 12.0 11.2 20.6 19.1 18.1 18.0 17.0 16.7 16.4 16.1 15.2 12.5

VOLUME WEEK (000s) CLOSE CHANGE

AEM KDX DGC ALS KL PAAS SEA SSRM NG FVI NTR FM TECK.B TECK.A NEXA LIF HBM CCO FNV PDL

3106 53.86 15116 3.02 5507 13.03 304 14.01 3639 20.30 870 20.82 540 14.52 1362 12.45 1197 5.96 1670 6.63 4679 60.50 28743 17.36 8711 32.80 11 33.00 2 23.43 832 22.40 10993 9.19 5125 11.54 2473 89.37 18 10.09

+ 2.12 + 1.22 + 1.09 + 1.03 + 0.93 + 0.72 + 0.70 + 0.66 + 0.60 + 0.43 - 4.43 - 3.83 - 3.16 - 3.09 - 2.20 - 1.33 - 1.07 - 0.75 - 0.58 - 0.57

TSX VENTURE EXCHANGE / MARCH 19–23 Worries of a possible U.S.-China trade war spooked investors on the TSX Venture Exchange, sending the S&P/TSX Venture Composite Index down 1.90% to 817.80. Goldex Resources posted the largest gain, rising 37¢ to $2.56 per share. The junior updated the market on its new Korokoro joint-venture gold project in Mali, 54 km from Randgold Resources’ Morila mine. The company unveiled more details about its partners, RexMetal Sarl, which owns 10%, and Geo-Sys-Tech Sarl, which owns 39%. According to Goldex, the Mali government awarded the licence to REX, whose president, Djeneba Samake, is also president of the Mali Mining Association. Geo-Sys-Tech’s key shareholders are a group of five European experts on geology, mining, ore processing, maintenance, logistics and security (92%), and two Malian citizens (8%). Both sets of shareholders, Goldex says, “have a deep insight [and] understanding of [the] political situation and family relations in the Republic of Mali, and in the local environment.” Under the terms of the joint-venture, GEO and REX will transfer their interests to a new company to be incorporated, and Goldex will become the operator with a 51% stake. Goldex notes that GEO’s development plan for the property calls for a conventional open-

pit operation with gravitational processing. So far GEO has completed exploration drilling to a depth of 30 metres. In a March 12 release, Goldex reported that a “recent discovery area” on the joint-venture’s 143 sq. km gold licence area had attracted interest, and “more than a thousand artisanal miners visited the property to investigate the discovery.” The press release included a link to a YouTube video, and Goldex noted that its joint-venture partners, working with local chiefs and mayors, “are closing off the area with a protective grid.” Shares of Gold Reserve fell 36¢ to $3.14 in the wake of a preliminary economic assessment (PEA) on its project in Venezuela. The Siembra gold-copper-silver deposit is located in the Kilometre 88 mining district of southeastern Venezuela’s Bolivar State. Gold TSX-V MOST ACTIVE ISSUES

Gratomic Dios Expl Conquest Res Westkam Gold Leeta Gold Tanzania Mnls Alexandria Min Revelo Res Equitorial Ex Spearmint Res

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

GRAT 17439 DOS 7773 CQR 6933 WKG 6102 HIVE 5418 TZM.H 4881 AZX 4837 RVL 4303 EXX 4089 SRJ 4053

0.16 0.19 0.04 0.04 1.57 0.02 0.10 0.06 0.10 0.09

0.09 0.07 0.03 0.04 1.31 0.01 0.08 0.03 0.07 0.07

0.14 + 0.01 0.16 + 0.08 0.04 unch 0.00 0.04 + 0.01 1.54 + 0.17 0.01 unch 0.00 0.09 - 0.01 0.05 + 0.02 0.10 + 0.02 0.07 - 0.01

Reserve owns 45% of the project and the other 55% is held by the Venezuelan government. The PEA envisions an open-pit operation with a 45-year mine life and two plants: a smaller, 15,000-tonne-per-day cyanidation plant, designed to recover gold from oxide saprolite and sulphide saprolite that contains low concentrations of copper; and a larger, 140,000-tonne-per-day flotation plant that

processes hard rock material with high gold and copper concentrations. Initial capex is estimated at US$2.6 billion; working capital, US$195 million; and total life-of-mine capital costs, US$4.7 billion. The study outlined a post-tax net present value at a 10% discount rate of US$3.93 billion and average life-of-mine annual sales of 836,000 oz. gold, 71 million lb. copper and 369,000 oz. silver. TNM

TSX-V GREATEST PERCENTAGE CHANGE

Balto Res Whitemud Res Altan Rio Mnls Dios Expl Plate Res Revelo Res Intact Gold Buffalo Coal Ross River Castle Peak Mg IGC Res Erin Ventures CWN M’g Acq Silver Spruce Noram Vent Randsburg Intl Awale Res Arrowstar Res Highway 50 Gld Canex Energy

BAL.H WMK.H AMO DOS ACP RVL ITG BUF RRM.H CAP IGC.H EV GCCC SSE NRM RGZ.H ARIC AWS HWY CSC.H

282 113 1066 7773 178 4303 378 1 455 3049 136 2126 4 1084 83 42 6 285 85 79

0.20 0.02 0.02 0.19 0.10 0.06 0.24 0.02 0.02 0.03 0.03 0.24 0.11 0.05 0.40 0.02 0.25 0.07 0.28 0.25

0.10 0.00 0.01 0.07 0.07 0.03 0.16 0.00 0.01 0.02 0.01 0.10 0.11 0.00 0.28 0.01 0.15 0.05 0.22 0.18

0.20 0.02 0.02 0.16 0.10 0.05 0.24 0.02 0.02 0.03 0.02 0.12 0.11 0.04 0.30 0.01 0.17 0.06 0.24 0.18

TSX-V GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

+ 135.3 + 100.0 + 100.0 + 100.0 + 66.7 + 66.7 + 54.8 + 50.0 + 50.0 + 50.0 - 92.0 - 47.7 - 47.5 - 36.4 - 36.2 - 33.3 - 32.0 - 31.3 - 30.4 - 30.0

VOLUME WEEK (000s) CLOSE CHANGE

Goldex Res Till Capital Sailfish Rylty Telson Res SilverCrest Mt Bear Creek Mng Leeta Gold Mineral Mtn Avidian Gold White Gold Kitrinor Mtls Hut 8 Mining Gold Reserve Millennial Lit Almadex Min Standard Lith IGC Res Crystal Lake Wealth Mnrls Gold Finder Ex

GDX TIL FISH TSN SIL BCM HIVE MMV AVG WGO SCYB HUT GRZ ML AMZ SLL IGC.H CLM WML VENZ

385 2.56 0 4.37 4 1.98 566 0.94 470 2.30 129 2.25 5418 1.54 1585 0.64 1190 0.55 285 0.91 185 21.45 631 3.37 94 3.14 1327 2.77 452 1.30 660 1.88 136 0.02 609 0.80 2048 1.74 1045 0.51

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

0.37 0.25 0.23 0.20 0.18 0.17 0.17 0.16 0.13 0.13 3.13 0.51 0.36 0.35 0.33 0.24 0.23 0.21 0.20 0.20

U.S. MARKETS / MARCH 19–23 Gold rose 2.5% to close at US$1,346.8 during a poor week for U.S. markets. The Philadelphia Gold and Silver Index rose 3.5% to 81.5, the Dow Jones Industrial Average fell 5.7% to 23,533.2 and the S&P 500 Index fell 5.9% to 2,588.26. United States Steel dropped US$6.02 to US$33.94. The stock lost 15.1%, highlighted by an 11% drop on Thursday. The stock has slid all month, down from a peak US$46.01 on March 1. U.S. President Donald Trump’s 25% tariff on steel imports went into effect last Friday, with exemptions granted to Argentina, Australia, Brazil, Canada, Mexico, South Korea and Europe, according to U.S. Trade Representative Robert Lighthizer. Earlier this month, Bank of America Merrill Lynch lowered its U.S. Steel rating from “buy” to “neutral,” citing concerns of a global trade war. Timna Tanners, an analyst from the bank, noted the tariff would likely have little benefit in 2018 due to tonnage already contracted at a lower price, but could result in “threats of trade retaliation” by 2019. Shares of Gold Fields rose 9.9% to US$4.10. Earlier this month the company announced

18_APRIL2_MarketNews.indd 18

it was transitioning from owner mining to contract mining at its Tarkwa gold mine. Gold Fields says it will continue to manage exploration and processing. Tarkwa has mineral reserves of 6.1 million oz. gold at a stable year-on-year grade of 1.24 grams gold per tonne. Gold Fields expects mine life will extend until 2031. In January the company sold its polymetallic Arctic platinum project in northern Finland to a Finnish subsidiary of private equity fund CD Capital Natural Resources Fund III. Gold Fields will get US$40 million cash and keep a 2% net smelter return royalty on all metals. U.S. MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Vale* VALE 122144 13.00 12.33 12.51 - 0.29 Frport McMoR* FCX 78210 19.24 17.51 17.52 - 0.84 Cleveland-Clif* CLF 71708 7.40 6.40 6.65 - 0.86 Barrick Gold* ABX 70232 12.65 11.81 12.50 + 0.18 Eldorado Gold* EGO 69229 1.10 0.90 0.90 - 0.17 United States S* X 64333 40.26 33.52 33.94 - 6.02 Yamana Gold* AUY 63224 2.88 2.58 2.84 + 0.24 Kinross Gold* KGC 54426 3.89 3.57 3.84 + 0.22 Hecla Mining* HL 47160 3.71 3.25 3.65 - 0.20 Goldcorp* GG 31109 14.03 13.01 13.90 + 0.54

Shares of Newmont Mining rose US$1.37 to US$38.76. The company reported a GAAP net income loss of US$60 million for the year, compared to a US$220-million loss the year before, owing to higher gold production and gold prices. The company, however, lowered its net debt to US$0.8 billion, and ended the

year with US$3.3 billion in cash. The company also announced in February that it had gold reserves of 68.5 million ounces — the same as the end of 2016. The company says that “additions and revisions fully replaced depletion,” adding it was able to increase its resources to 48.2 million oz. gold. TNM

U.S. GREATEST PERCENTAGE CHANGE

Gold Fields* Harmony Gold* Yamana Gold* Fortuna Silvr* Seabridge Gld* AngloGold Ash* Kirkland Lake* First Majestic* McEwen Mng* IAMGOLD* Eldorado Gold* United States S* Vedanta* Cleveland-Clif* Nexa Resources* Cloud Peak En* HudBay Mnls* Lithium Amer* Mosaic* Teck Res*

GFI HMY AUY FSM SA AU KL AG MUX IAG EGO X VEDL CLF NEXA CLD HBM LAC MOS TECK

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

22247 4.14 3.71 4.10 + 9.9 27953 2.38 2.10 2.33 + 9.4 63224 2.88 2.58 2.84 + 9.2 5374 5.25 4.67 5.15 + 9.1 2498 11.40 10.45 11.35 + 8.1 15787 9.82 8.88 9.65 + 7.6 3830 16.06 14.56 15.76 + 7.4 15829 6.51 5.69 6.36 + 7.1 10915 2.20 1.96 2.15 + 7.0 22852 5.35 4.88 5.24 + 6.9 69229 1.10 0.90 0.90 - 15.9 64333 40.26 33.52 33.94 - 15.1 2785 19.39 17.03 17.05 - 11.6 71708 7.40 6.40 6.65 - 11.5 1471 19.77 17.52 17.60 - 11.3 4255 3.61 3.22 3.23 - 8.5 3362 7.95 7.10 7.15 - 8.3 988 6.42 6.00 6.06 - 7.2 18792 25.91 24.23 24.26 - 7.0 13002 27.44 25.44 25.49 - 6.8

U.S. GREATEST VALUE CHANGE

Agnico Eagle* AEM Newmont Mng* NEM Kirkland Lake* KL Seabridge Gld* SA Silver Wheaton* WPM AngloGold Ash* AU Franco-Nevada* FNV GG Goldcorp* Suncor Energy* SU Buenaventura* BVN United States S* X Arch Coal* ARCH Nutrien* NTR Alcoa* AA Chevron Corp* CVX Nexa Resources* NEXA Peabody Enrgy* BTU Vedanta* VEDL Rio Tinto* RIO Teck Res* TECK

VOLUME WEEK (000s) CLOSE CHANGE

7354 41.84 25541 38.76 3830 15.76 2498 11.35 14665 20.40 15787 9.65 3714 69.33 31109 13.90 17850 33.26 5415 14.84 64333 33.94 1397 91.23 7558 46.99 13754 44.71 28610 112.98 1471 17.60 5538 37.89 2785 17.05 16102 50.51 13002 25.49

+ 2.39 + 1.37 + 1.08 + 0.85 + 0.68 + 0.68 + 0.61 + 0.54 + 0.54 + 0.47 - 6.02 - 5.32 - 2.58 - 2.52 - 2.42 - 2.25 - 2.25 - 2.24 - 2.07 - 1.87

2018-03-27 7:07 PM

GLOBAL MINING NEWS · SINCE 1915

THE NORTHERN MINER / APRIL 2–15, 2018

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, March 27, 2018 Precious Metals Price (US$/oz.) Change 1350.65 +37.90 Gold Silver $16.64 +0.39 Platinum $950.00 +8.00 Palladium $981.00 -16.00 Base Metals Nickel Copper Lead Zinc

TSX WARRANTS

PRODUCER AND DEALER PRICES

SPOT PRICES COURTESY OF SCOTIABANK

Price (US$/tonne) Change $12960.00 +45.00 $6657.50 +47.00 $2404.00 +19.00 $3282.50 +14.50

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, March 23, 2018 (change from March 16, 2018 in brackets): Aluminium Alloy 12560 (-200) Aluminium 1276375 (-29775) Copper 317750 (-3700) Lead 130825 (+175) Nickel 324870 (-24) Tin 1975 (+315) Zinc 211225 (+5100)

Thermal Coal CAPP: US$40.00 per short ton Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$63.00 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$12.40 Cobalt: US$42.75/lb. Copper: US$2.95/lb. Copper: CME Group Futures April 2018: US$2.98/lb.; May 2018: US$2.99/lb Ferro-Chrome: US$2.80/kg Ferro Titanium: US$4.90/kg FerroTungsten: US$31.40/kg Ferrovanadium: US$35.20/kg Iridium: NY Dealer Mid-mkt US$1020.00/tr oz. Iron Ore 62% Fe CFR China-S: US$63.10/tonne Iron Ore Fines: US$71.00/tonne Iron Ore Pellets: US$108.60/tonne Lead: US$1.07/lb. Magnesium: US$2.25/kg Manganese: US$2.04/kg Molybdenum Oxide: US$11.34/lb. Phosphate Rock: US$86.00/tonne Potash: US$226.00/tonne Rhodium: Mid-mkt US$2,010.00 tr. oz. Ruthenium: Mid-mkt US$210.00/tr. oz. Silver: Handy & Harman Base: US$16.75 per oz.; Handy & Harman Fabricated: US$20.94 per oz. Tantalite Ore : US$158.90/kg Tin: US$9.50/lb. Uranium: U3O8, Trade Tech spot price: US$21.85; The UX Consulting Company spot price: US$21.85/lb. Zinc: US$1.48/lb. Prices current Mar. 27, 2018

NORTH AMERICAN STOCK EXCHANGE INDICES

52-week

Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 High Low Index S&P/TSX Composite 15223.74 15399.93 15675.28 15616.36 15589.39 15527.30 12400.15 S&P/TSXV Composite 817.80 817.08 831.15 831.21 835.44 1050.26 883.52 S&P/TSX 60 897.35 908.96 926.29 923.47 922.97 896.74 709.99 S&P/TSX Global Gold 187.71 182.56 185.82 183.17 184.59 218.90 149.29 DJ Precious Metals 157.96 157.96 160.28 155.93 157.30 420.72 130.95

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of Mar 16, 2018 (with changes from Mar 01, 2018) Largest short positions Eldorado Gold ELD 17293373 1529626 3/1/2018 Sandstorm Gold SSL 16197865 129973 3/1/2018 Ivanhoe Mines IVN 15664030 -875462 3/1/2018 Turquoise HIl TRQ 11044382 610134 3/1/2018 OceanaGold OGC 8926789 -404110 3/1/2018 McEwen Mng MUX 8326846 -122470 3/1/2018 First Quantum FM 8060235 -2117011 3/1/2018 First Majestic FR 8037596 437867 3/1/2018 Suncor Energy SU 7301675 -5212703 3/1/2018 Yamana Gold YRI 7299413 -670644 3/1/2018 Nevsun Res NSU 7133333 320004 3/1/2018 B2Gold BTO 6246575 -839638 3/1/2018 Klondex Mines KDX 6210722 336828 3/1/2018 New Gold NGD 6031920 40909 3/1/2018 Alacer Gold ASR 5995040 -769690 3/1/2018 Largest increase in short position Eldorado Gold ELD 17293373 1529626 3/1/2018 Kirkland Lake KL 2830581 1125546 3/1/2018 Arizona Mng AZ 2680842 1108811 3/1/2018 Osisko Mng Inc OSK 4089468 905072 3/1/2018 Wallbridge Mng WM 835238 832549 3/1/2018 Largest decrease in short position Suncor Energy SU 7301675 -5212703 3/1/2018 First Quantum FM 8060235 -2117011 3/1/2018 Kinross Gold K 3275081 -1451438 3/1/2018 Copper Mtn Mng CMMC 4555227 -1218424 3/1/2018 Barrick Gold ABX 3711310 -904186 3/1/2018

Short positions outstanding as of Mar 16, 2018 (with changes from Mar 01, 2018) Largest short positions Leeta Gold HIVE 13543402 789813 3/1/2018 SilverCrest Mt SIL 2059767 116167 3/1/2018 Atlantic Gold AGB 1862064 218264 3/1/2018 Neo Lithium NLC 1804378 334078 3/1/2018 LiCo Energy LIC 1448900 1232400 3/1/2018 First Cobalt FCC 1190448 989448 3/1/2018 US Cobalt USCO 723743 -261217 3/1/2018 Osisko Metals OM 689500 -3100 3/1/2018 Gratomic GRAT 534200 179196 3/1/2018 Novo Res NVO 490133 318953 3/1/2018 Millennial Lit ML 479289 -1190811 3/1/2018 Gowest Gold GWA 455769 455232 3/1/2018 Berkwood Res BKR 427592 426092 3/1/2018 Lithium Chile LITH 422600 309200 3/1/2018 Advantage Lith AAL 378718 -74682 3/1/2018 Largest increase in short position LiCo Energy LIC 1448900 1232400 3/1/2018 First Cobalt FCC 1190448 989448 3/1/2018 Leeta Gold HIVE 13543402 789813 3/1/2018 Gowest Gold GWA 455769 455232 3/1/2018 Berkwood Res BKR 427592 426092 3/1/2018 Largest decrease in short position Millennial Lit ML 479289 -1190811 3/1/2018 Noble Mnl Expl NOB 104543 -687757 3/1/2018 Cdn Platinum CPC 0 -502000 3/1/2018 Sunvest Mnrls SSS 200 -500900 3/1/2018 ML Gold Corp MLG 25569 -310398 3/1/2018

DAILY METAL PRICES Daily Metal Prices Date Mar 26 Mar 23 Mar 22 Mar 21 Mar 20 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) 1765/1780 1810/1825 1835/1850 1840/1850 1840/1850 Al Alloy Aluminum 2021.50/2047 2048/2070 2057/2078 2056/2078 2072/2093 Copper 6499/6548 6657.50/6698 6745.50/6791.50 6674/6711.50 6783/6817.50 Lead 2366/2364 2359/2349.50 2377/2380 2376.50/2375 2345/2346 Nickel 12840/12870 13040/13110 13350/13395 13320/13320 13510/13525 Tin 20900/20800 20800/20750 21025/20990 20740/20650 20845/20820 Zinc 3254/3246 3214/3213 3222/3225 3222/3225 3242/3242 PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.) Gold AM 1348.40 1342.35 1328.85 1316.35 1312.75 Gold PM 1352.40 1346.60 1329.15 1321.35 1311.00 Silver 16.61 16.53 16.52 16.25 16.25 Platinum 950.00 954.00 950.00 947.00 945.00 Palladium 976.00 986.00 984.00 988.00 982.00

Alamos Gold (AGI.WT) - Wt buys sh @ $28.47 to Aug 30/18 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 Excellon Resources Inc (EXN.WT) - Wt buys sh @ $1.75 to Jul 26/18 GoGold Resources Inc. (GGD.WT) - Wt buys sh @ $1.7 to Jun 7/18 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

HudBay Minerals (HBM.WT) - Wt buys sh @ $15 to Jul 20/18 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 Oban Mining J (OBM.WT) - Wt buys 20 sh @ $3 to Aug 25/18 Osisko Gold Royalties (OR.WT) - Wt buys sh @ $36.5 to Feb 18/22

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 Atlantic Gold (AGB.WT) - Wt buys sh @ $0.6 to Aug 20/18 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. 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

Osisko Gold Royalties (OR.WT.A) - Wt buys sh @ $19.08 to Feb 26/19 Osisko Mining Inc. J (OSK.WT) - 20 Wt buys sh @ $3 to Aug 25/18 Pilot Gold Inc. Wt (PLG.WT) - Wt buys sh @ $0.9 to May 16/19 Prairie Provident Resources Inc Wt (PPR. WT) - Wt buys sh @ $0.87 to Mar 16/19 Primero Mining Corp (P.WT.C) - Wt buys sh @ $3.35 to Jun 24/18 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 Timmins Gold Corp (TMM.WT) - Wt buy sh at $0.7 to May 30/18

TSX VENTURE WARRANTS Maple Gold Mines Ltd. (MGM.WT) One warrant to purchase one common share at $0.40 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 Silvercrest Metals Inc. (SIL.WT) - Wt buys sh @ $3 to Dec 06/18 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 West Kirkland Mining (WKM.WT) - Wt buys sh @ $0.3 to Apr 17/19

NEW 52-WEEK HIGHS AND LOWS MARCH 19–23, 2018 62 New Highs AgriMinco* Aldever Res Alset Minerals Alset Minerals* American Lith American Lith* Aston Bay Atlantic Gold Australian Mns* Avesoro Res Baroyeca Go&Si* Bluenose Gold Carmax Mng Carmax Mng* Cobalt Block Cobalt Block* Colonial Coal Contact Mnrls*

Cornerstone Mt Cornerstone Mt* Corvus Gold Corvus Gold* Dios Expl Dynasty Gold* Eagle Plains First Energy Golden Global* Goldex Res Goldex Res* Goldplay Expl Goldstream Mnl Highfield Res* Jade Leader Jade Leader* Labrador Gold Laredo Res* Lead Ventures

Marifil Mines* Metron Capital Mineral Mtn Mineral Mtn* Newport Gold* North Am Ptash* NV Gold NV Gold* Paladin Energy* Pancontinental* Parlane Res Plate Res Ridgestone M’g Sable Res Salt Lake Pot* San Gold Corp* Saturn Mnrls Southern Copp* Starr Peak Exp*

Stina Res Stina Res* Superior Gold Telson Res Teranga Gold US Cobalt *

49 New Lows Aurcana Corp Bearing Lith Cache Expl CanAm Coal* Canex Energy Cda Carbon* Colorado Res Commerce Res Cordoba Mnls* Desert Lion Discovery Met* Eastmain Res

Eldorado Gold Eldorado Gold* First Mg Fin * Gldn Predator Gldn Predator* Graphite Egy* Group Eleven Hecla Mining* HFX Holding Hut 8 Mining* IDM Mining* Imperial Metal Imperial Mg Gr Infinite Lith Ivanhoe Mines* Legion Metals Lucara Diam Meadow Bay Gd Miramont Res*

MX Gold* New Gold* New Tech Lith O.T. Mining* Osisko Gold* Pac Imperial Puma Expl Quantum Cobalt Reliant Gold Signature Res* Stockport Expl* Tamerlane Vent* Teras Res* Tinka Res* Torex Gold* Uranium Res* Vantex Res * Viva Gold

CANADIAN GOLD MUTUAL FUNDS Fund Mar 23 ($) Mar 16 ($) Change ($) Change (%) YTDChange (%) MER (%) TotalAssets (M$) 20.05 19.79 0.26 1.31 -5.97 2.81 113.32 AGF Prec Mtls Fd MF BMO Prec Mtls Fd A 17.64 17.30 0.34 1.97 -6.68 2.40 57.62 BMO ZGD 9.04 8.81 0.23 2.61 -8.93 0.63 BMO ZJG 9.17 8.57 0.60 6.98 -6.35 0.60 CIBC Prec Metal Fd A 9.56 9.38 0.18 1.89 -10.74 2.58 42.65 Dyn Prec Metls Fd A 6.87 6.82 0.05 0.73 -6.28 2.66 338.04 10.42 10.26 0.16 1.55 Galileo GOGO Horizons HEP 23.52 22.84 0.69 3.00 -7.07 0.81 IG Mac GbPMetCl A 8.53 8.40 0.14 1.64 -7.65 2.75 35.82 iShares XGD 11.75 11.50 0.25 2.18 -8.15 0.55 743.74 45.51 44.78 0.73 1.63 -7.69 2.52 77.56 Mac Prec Met Cl A NBI PrecMetFd Invt 11.45 11.20 0.25 2.23 -12.28 2.46 26.43 34.75 34.30 0.45 1.32 -7.41 2.96 144.02 NPT Gold&PrMinFdA NPT SilverEquCl A 5.39 5.33 0.06 1.05 -7.24 3.36 115.55 RBC GblPreMetFd A 31.25 30.69 0.56 1.81 -8.44 2.13 323.79 Redw UITGoDe&ProCl A 10.00 0.00 0.00 0.00 Sentry Pre Met Fd A 37.53 34.82 2.71 7.78 -11.53 2.44 142.43 TD PreciousMetalsInv 31.94 31.36 0.58 1.85 -9.80 2.27 108.85

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

Mar 23 Mar 22 Mar 21 Mar 20 Mar 19 1.2931 1.2931 1.2897 1.3075 1.3083 0.7733 0.7733 0.7754 0.7648 0.7644

Exchange rates (Quote Media, March 23, 2018) C$ to AUS C$ to EURO C$ to YEN C$ to Mex Peso C$ to SA Rand 1.0049 0.6275 81.1815 14.4428 9.1847 C$ to UK Pound C$ to China Yuan C$ to India Rupee C$ to Swiss Franc C$ to S. Korea Won 0.5480 4.8992 50.3420 0.7320 836.0476 US to AUS US to EURO US to YEN US to Mex Peso US to SA Rand 1.2995 0.8114 104.9740 18.6778 11.8801 US to UK Pound US to China Yuan US to India Rupee US to Swiss Franc US to S. Korea Won 0.7086 6.3357 65.1700 0.9466 1080.9100

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_APRIL2_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.

GLOBAL MINING NEWS · SINCE 1915

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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

Contact: moliveira@northernminer.com or 416-510-6768

2018-03-27 5:44 PM

WWW.NORTHERNMINER.COM

APRIL 2–15, 2018 / THE NORTHERN MINER

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: MARCH 19–23, 2018 (100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

A 37 Capital 1 92 Resources V 454 92 Resources* O 52 Abacus Mng &Ex V 129 Abacus Mng &Ex* O 212 Abcourt Mines V 359 Abcourt Mines* O 46 ABE Resources V 520 ABE Resources* O 5 Aben Res V 1527 Aben Res* O 142 Aberdeen Intl* O 66 Aberdeen Intl T 505 Abitibi Mng* O 6 Abitibi Royalt* O 3 Abitibi Royalt V 12 AbraPlata Res* O 155 AbraPlata Res V 208 Adamera Mnls* O 219 Adamera Mnls V 1811 Adex Mining V 143 Advance Gold V 85 Advanced Expl* O 2 O 485 Advantage Lith* Advantage Lith V 1202 Adventus Zinc V 34 Affinity Gold* O 17 African Gold V 679 African Queen V 108 Aftermath Slvr V 12 O 1 Aftermath Slvr* Agnico Eagle T 3106 Agnico Eagle* N 7354 AgriMinco* O 42 Aguia Resource V 807 Aguila Amer Gd V 3 Aida Minerals 1575 Alabama Graph* O 42 Alabama Graph V 244 Alacer Gold T 1835 Alamos Gold T 3615 Alamos Gold* N 11492 Alaska Pac Egy* O 718 Alba Minerals* O 9 Albert Mining* O 4 Albert Mining V 2 Alchemist Mng 1037 Alcoa* N 13754 Alderon Iron* O 1 Alderon Iron T 659 Aldershot Res V 135 Aldever Res* O 0 Aldever Res V 211 Aldridge Min* O 16 Aldridge Min V 167 Alexandra Cap 17 Alexandra Cap* O 4 O 859 Alexandria Min* Alexandria Min V 4837 Alexco Res* X 1423 Alexco Res T 240 Algold Res* O 20 Algold Res V 344 Alianza Min V 206 Alianza Min* O 30 Allante Potash V 50 Allegiant Gold V 231 Allegiant Gold* O 199 Alliance Mng V 629 Alliance Res* D 1860 Almaden Mnls T 42 Almaden Mnls* X 887 Almadex Min V 452 Almadex Min* O 1161 Almonty Ind V 668 Alopex Gold V 3 Alphamin Res * O 26 Alphamin Res V 135 Alset Minerals* O 43 Alset Minerals V 1114 Altai Res V 564 Altair Res Inc V 95 Altamira Gold V 487 Altamira Gold* O 107 Altan Nev Mnls V 254 Altan Rio Mnls V 1066 Altan Rio Mnls* O 5 Altiplano Mnls V 379 Altitude Res V 49 Altius Mnrls T 304 Alto Vent V 314 Altura Mng Ltd* O 1283 Alturas Mnrls V 19 Alumina Inc* O 99 ALX Uranium V 563 ALX Uranium* O 43 Am Creek Res V 362 Am CuMo Mng V 856 Am CuMo Mng* O 196 Am Manganese* O 523 Am Manganese V 539 Am Sierra Gold* O 30 Amador Gold* O 0 Amani Gold* O 3 Amarc Res V 132 Amarc Res* O 215 Amarillo Gold V 116 O 284 Amazing Energy* 59 Amer Intl Vent* O American Lith* O 65 American Lith V 248 American Pac 36 Americas Silvr* X 206 Americas Silvr T 264 Amerigo Res T 443 Amerigo Res* O 156 Amex Expl V 247 Anaconda Mng T 645 Anaconda Mng* O 108 Anconia Res V 388 Andes Gold* O 118 Andover Mng* O 6 O 86 Anfield Energy* Anfield Energy V 457 Angel Gold* O 7 Angel Gold V 1267 Angkor Gold V 238 Anglo American* O 1848 1 Anglo American* O Anglo Pac Grp T 1 Anglo-Bomarc V 155 AngloGold Ash* O 0 AngloGold Ash* N 15787 Angus Ventures V 59 O 134 Antioquia Gold* Antioquia Gold V 37 Antler Gold V 5 Antler Hill V 77 Antofagasta* O 13 APAC Res Inc* O 0 APAC Res Inc 242 Apex Res V 268 Apogee Opport V 26 Apogee Opport * O 0 Appia Energy 47 Appia Energy* O 15 Applied Mrnls* O 399 Aquila Res* O 673 Aquila Res T 542 Arch Coal* N 1397 Archon Mineral V 0 Arco Res* O 39 Arctic Star V 1716 Arctic Star* O 31 Arcus Dev Grp V 37 Arena Mnls V 859 Arena Mnls* O 331 Argentina Lith* O 65 Argentina Lith V 449 Argentum Silvr V 6 Argentum Silvr* O 5 Argex Titanium* O 121 Argex Titanium T 1110 Argo Gold* O 240 Argo Gold 387 Argonaut Gold* O 143 Argonaut Gold T 1662

20-23_APRIL2_StockTables.indd 20

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0.01 0.28 0.10 0.26 0.22 0.24 - 0.03 0.35 0.13 0.02 0.00 0.02 + 0.00 0.05 0.01 0.00 0.00 0.15 unch 0.00 0.16 0.06 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.14 0.12 0.13 + 0.01 0.26 0.12 0.09 0.09 0.09 unch 0.00 0.21 0.09 0.28 0.25 0.28 unch 0.00 0.45 0.24 0.70 0.56 0.60 - 0.02 0.87 0.20 0.02 0.01 0.01 - 0.00 0.11 0.01 0.69 0.58 0.64 + 0.05 0.69 0.32 0.85 0.76 0.76 - 0.02 1.65 0.33 0.30 0.28 0.28 - 0.02 0.40 0.28 3.66 3.20 3.65 + 0.40 5.04 2.50 4.72 4.16 4.57 + 0.39 6.11 3.22 1.07 0.98 1.01 - 0.05 1.35 0.49 0.82 0.76 0.78 - 0.04 1.09 0.30 0.11 0.09 0.11 unch 0.00 0.38 0.08 0.43 0.36 0.42 + 0.04 0.56 0.22 0.34 0.28 0.31 + 0.02 0.48 0.16 0.02 0.00 0.02 unch 0.00 0.05 0.01 0.01 0.01 0.01 + 0.00 0.03 0.00 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.25 0.24 0.24 unch 0.00 0.75 0.20 0.31 0.28 0.29 - 0.02 0.95 0.23 0.06 0.05 0.06 + 0.01 0.09 0.03 0.08 0.05 0.07 + 0.01 0.12 0.04 0.20 0.18 0.20 + 0.01 0.39 0.15 12.58 11.79 11.80 - 0.68 13.13 5.95 24.30 0.00 24.30 - 0.66 26.02 12.19 1.60 1.60 1.60 unch 0.00 3.18 1.31 0.08 0.06 0.08 + 0.01 0.15 0.05 0.00 0.00 10.47 unch 0.00 12.75 8.88 9.82 8.88 9.65 + 0.68 13.31 8.86 0.40 0.38 0.38 - 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0.00 2.40 1.31 2.66 2.45 2.51 - 0.04 2.92 1.76

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Argus Metals* O 0 Argus Metals V 192 Arian Silver* O 9 O 105 Arianne Phosph* Arianne Phosph V 202 Arizona Mng* O 81 Arizona Mng T 1790 Arizona Silver V 71 Arizona Silver* O 76 Armor Mnrls V 7 Arrowstar Res V 285 Asanko Gold T 955 Asanko Gold* X 2558 Asante Gold 465 Asante Gold* O 169 Asbestos Corp V 5 Ascot Res V 220 Ashanti Sanko V 13 O 20 Ashburton Vent* Ashburton Vent V 787 V 3 AsiaBaseMetals Asiamet Res* O 21 Asian Minl Res V 642 Aston Bay V 1050 Astorius Res V 772 ATAC Res V 443 Atacama Pacif V 226 O 17 Atacama Pacif* Atacama Res* O 35234 Athabasca Mnls* O 48 V 151 Athabasca Mnls Athena Silver* O 28 Atico Mng* O 201 Atico Mng V 192 Atlanta Gold* O 130 Atlanta Gold V 300 Atlantic Gold V 1225 Atlantic Ind V 305 Atlatsa Res* O 2414 Atlatsa Res T 1067 Atom Energy * O 1 Atom Energy V 1 Aton Res Inc V 1833 149 Aton Res Inc* O Aura Mnls* O 9 Aura Mnls T 262 Aura Silver Rs V 370 Auramex Res V 109 Aurania Res* O 95 Aurania Res V 82 Aurcana Corp V 119 Aurcana Corp* O 67 AurCrest Gold V 117 Aurion Res * O 32 Aurion Res V 352 Aurora Royal V 53 Aurum* O 50 Auryn Res* X 922 Auryn Res T 617 Austin Res V 23 Austral Gold* O 14 Austral Gold V 878 Australian Mns* O 394 Auxico Res 248 Avalon Adv Mat T 707 Avalon Adv Mat* O 992 Avarone Metals* O 82 Avarone Metals 3432 Avesoro Res T 50 Avesoro Res* O 0 Avidian Gold V 1190 Avino Silver* X 702 Avino Silver T 116 Avrupa Mnls V 341 Avrupa Mnls* O 213 Awale Res V 6 AXE Expl V 1866 Axmin Inc* O 1 Axmin Inc V 357 Azarga Mtls V 166 Azarga Mtls* O 4 Azarga Uranium* O 7 Azarga Uranium T 188 Aziel Corp* O 0 Azimut Expl V 185 Azincourt Ener* O 97 Azincourt Ener V 1514 V 503 Aztec Minerals Aztec Minerals* O 236 Azteca Gold* O 1335

0.00 0.00 0.35 unch 0.00 0.55 0.06 0.35 0.24 0.28 - 0.07 0.75 0.08 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.46 0.43 0.45 - 0.01 0.73 0.39 0.61 0.57 0.58 - 0.01 0.97 0.53 3.27 3.02 3.21 - 0.14 5.90 1.30 4.27 3.99 4.13 - 0.18 4.87 1.70 0.19 0.17 0.18 unch 0.00 1.23 0.14 0.15 0.14 0.15 + 0.01 0.91 0.11 0.40 0.00 0.40 unch 0.00 0.55 0.32 0.07 0.05 0.06 - 0.03 0.09 0.03 1.09 0.96 1.05 + 0.08 3.75 0.55 0.85 0.74 0.80 + 0.07 2.83 0.43 0.06 0.05 0.05 unch 0.00 0.18 0.05 0.04 0.03 0.03 - 0.01 0.12 0.04 0.75 0.75 0.75 unch 0.00 0.90 0.20 1.33 1.24 1.25 - 0.10 2.10 1.20 0.03 0.03 0.03 + 0.01 0.09 0.02 0.08 0.06 0.06 - 0.01 0.24 0.05 0.10 0.08 0.09 - 0.01 0.34 0.06 0.25 0.25 0.25 unch 0.00 0.45 0.19 0.19 0.17 0.17 - 0.02 0.19 0.05 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.26 0.18 0.26 + 0.06 0.23 0.10 0.07 0.06 0.07 - 0.01 0.20 0.06 0.57 0.51 0.53 + 0.01 0.89 0.38 0.66 0.60 0.65 unch 0.00 0.83 0.39 0.47 0.47 0.47 + 0.00 0.66 0.30 0.00 0.00 0.00 unch 0.00 0.45 0.00 0.10 0.09 0.10 unch 0.00 0.20 0.09 0.14 0.12 0.14 - 0.01 0.30 0.12 0.17 0.04 0.04 unch 0.00 0.33 0.02 0.56 0.49 0.54 + 0.01 0.71 0.40 0.71 0.64 0.70 unch 0.00 0.91 0.51 0.05 0.00 0.04 + 0.00 0.06 0.03 0.07 0.06 0.06 + 0.01 0.08 0.04 1.94 1.85 1.93 + 0.06 1.94 1.13 0.02 0.02 0.02 + 0.01 0.09 0.01 0.04 0.02 0.02 - 0.01 0.05 0.01 0.04 0.04 0.04 - 0.01 0.07 0.02 0.19 0.19 0.19 - 0.06 0.34 0.04 0.32 0.32 0.32 unch 0.00 0.50 0.05 0.05 0.04 0.04 - 0.01 0.06 0.03 0.04 0.04 0.04 - 0.00 0.04 0.02 1.83 0.00 1.74 + 0.08 2.38 1.03 2.38 2.15 2.22 + 0.02 3.00 1.30 0.03 0.03 0.03 unch 0.00 0.10 0.02 0.08 0.07 0.07 unch 0.00 0.10 0.03 2.49 2.14 2.34 + 0.06 6.06 1.40 3.23 2.81 3.00 + 0.09 7.57 1.51 0.22 0.00 0.22 + 0.01 0.42 0.17 0.17 0.00 0.16 + 0.00 0.30 0.13 0.03 0.00 0.03 unch 0.00 0.04 0.02 0.60 0.60 0.60 + 0.02 2.82 0.58 0.82 0.75 0.80 unch 0.00 3.49 0.73 0.13 0.10 0.10 - 0.03 0.24 0.03 0.07 0.07 0.07 unch 0.00 1.05 0.06 1.40 1.30 1.32 - 0.08 3.00 1.24 1.84 1.70 1.70 - 0.10 3.60 1.62 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.08 0.05 0.05 - 0.03 0.16 0.05 0.12 0.10 0.11 - 0.01 0.19 0.10 0.13 0.00 0.10 - 0.01 0.13 0.08 0.40 0.32 0.32 - 0.08 0.45 0.20 0.15 0.13 0.14 - 0.01 0.17 0.11 0.12 0.10 0.11 + 0.00 0.13 0.08 0.07 0.06 0.07 + 0.01 0.08 0.01 0.11 0.08 0.10 + 0.01 0.14 0.02 4.30 3.94 4.25 + 0.19 5.00 2.50 0.00 0.00 3.00 unch 0.00 3.30 1.89 0.60 0.40 0.55 + 0.13 0.64 0.20 1.39 1.24 1.36 + 0.09 1.90 1.14 1.80 1.63 1.78 + 0.12 2.53 1.44 0.10 0.09 0.09 + 0.01 0.13 0.06 0.07 0.06 0.07 + 0.01 0.10 0.05 0.25 0.15 0.17 - 0.08 0.48 0.14 0.06 0.05 0.05 - 0.01 0.17 0.02 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.05 0.04 0.05 + 0.01 0.06 0.03 0.13 0.00 0.12 - 0.01 0.33 0.11 0.09 0.06 0.09 + 0.03 0.22 0.06 0.18 0.17 0.18 + 0.01 0.27 0.14 0.27 0.23 0.27 + 0.01 0.38 0.18 0.00 0.00 1.25 unch 0.00 9.10 0.60 0.37 0.31 0.37 + 0.06 0.42 0.26 0.12 0.10 0.11 - 0.01 0.23 0.03 0.15 0.13 0.15 unch 0.00 0.37 0.05 0.32 0.27 0.28 + 0.02 0.65 0.21 0.25 0.21 0.22 + 0.02 0.30 0.18 0.00 0.00 0.00 unch 0.00 0.00 0.00

B2Gold T 18342 B2Gold* X 23149 B4MC Gold* O 1 Bacanora Mnls V 264 Balmoral Res* O 403 Balmoral Res T 912 Balto Res V 282 Bandera Gold V 13 Bankers Cobalt* O 160 V 1073 Bankers Cobalt Bannerman Res* O 81 Banyan Gold V 308 O 580 Bard Ventures* Bard Ventures V 30 Barker Mnrls V 1984 O 93 Barkerville Go* Barkerville Go V 319 Baroyeca Go&Si V 35 Baroyeca Go&Si* O 2 Barrick Gold* N 70232 Barrick Gold T 14068 Barsele Min* O 45 Barsele Min V 700 Batero Gold V 178 Bayhorse Silvr* O 80 Bayhorse Silvr V 428 O 3 Bayswater Uran* Bayswater Uran V 4 BC Moly V 3 BC Moly * O 3 BCM Res V 30 BE Res V 14 Bear Creek Mng V 129 Bearclaw Cap V 214 Bearing Lith V 212 Bearing Lith* O 154 Beaufield Res V 391 Beaufield Res* O 109 Beeston Ent* O 140 Bell Copper* O 232 Belmont Res V 877 Belo Sun Mng T 1090 Belvedere Res V 128 Belvedere Res* O 1 Benton Res V 680 Benz Mining V 351 Berkeley Egy* O 8 Berkwood Res * O 16 Berkwood Res V 581 Bethpage Cap V 33 Big Wind Cap 885 Bird River Res 286 Bitterroot Res* O 43 Bitterroot Res V 31 Black Dragon V 110 Black Dragon* O 12 Black Hills* N 2646 Black Iron T 519 Black Iron* O 25 Black Isle Res V 1355 Black Isle Res* O 3 Black Mam Mtls* O 1 Black Mam Mtls V 24 Black Sea Cop* O 17 Black Sea Cop V 408 Black Tusk Res 168 Blackheath Res V 193 Blackrock Gold V 181 O 34 Blackrock Gold* Blind Crk Res V 118 BLOX Inc* O 43 Blue Moon Zinc* O 443 Blue Moon Zinc V 2144 Blue Rvr Res V 704 Blue Sky Uran* O 91 Blue Sky Uran V 237

3.79 3.50 3.55 - 0.26 4.11 2.96 2.91 2.70 2.76 - 0.15 3.30 2.15 8.00 8.00 8.00 unch 0.00 9.00 7.10 1.64 1.30 1.39 - 0.12 2.73 1.18 0.37 0.31 0.35 + 0.04 0.65 0.23 0.47 0.40 0.45 + 0.03 0.86 0.38 0.20 0.10 0.20 + 0.12 0.38 0.01 0.04 0.00 0.04 unch 0.00 0.10 0.03 0.39 0.23 0.26 + 0.01 0.68 0.23 0.35 0.29 0.32 - 0.01 0.85 0.11 0.04 0.03 0.03 - 0.01 0.06 0.02 0.08 0.07 0.08 unch 0.00 0.15 0.06 0.05 0.03 0.05 unch 0.00 0.05 0.02 0.06 0.05 0.06 + 0.01 0.08 0.02 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.52 0.48 0.52 + 0.02 1.03 0.33 0.66 0.63 0.66 + 0.02 1.39 0.45 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.01 0.01 0.01 unch 0.00 0.01 0.01 12.65 11.81 12.50 + 0.18 20.37 11.07 16.24 15.45 16.12 - 0.01 27.03 14.26 0.57 0.54 0.56 + 0.01 0.81 0.42 0.77 0.71 0.75 + 0.03 1.08 0.53 0.08 0.08 0.08 - 0.01 0.12 0.08 0.18 0.16 0.17 + 0.01 0.22 0.10 0.23 0.20 0.22 + 0.01 0.27 0.14 0.02 0.00 0.02 unch 0.00 0.04 0.01 0.03 0.00 0.03 - 0.01 0.06 0.02 0.00 0.00 0.08 unch 0.00 0.08 0.04 0.06 0.06 0.06 unch 0.00 0.06 0.04 0.13 0.11 0.12 - 0.01 0.25 0.08 0.07 0.06 0.06 unch 0.00 0.12 0.04 2.25 1.98 2.25 + 0.17 2.74 1.64 0.05 0.04 0.04 - 0.02 0.06 0.03 0.63 0.54 0.56 - 0.04 1.06 0.54 0.48 0.41 0.45 - 0.02 0.81 0.41 0.10 0.09 0.10 - 0.01 0.34 0.09 0.08 0.07 0.08 + 0.00 0.25 0.07 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.06 0.04 0.06 - 0.02 0.16 0.04 0.05 0.05 0.05 unch 0.00 0.08 0.02 0.36 0.32 0.33 - 0.01 0.91 0.29 0.23 0.22 0.23 unch 0.00 0.32 0.04 0.19 0.19 0.19 unch 0.00 0.19 0.04 0.07 0.06 0.07 unch 0.00 0.12 0.05 0.14 0.11 0.13 unch 0.00 0.47 0.11 0.73 0.73 0.73 unch 0.00 0.88 0.51 0.16 0.15 0.15 unch 0.00 0.44 0.15 0.22 0.19 0.20 - 0.01 0.55 0.17 0.10 0.00 0.10 - 0.01 0.14 0.07 0.53 0.42 0.45 - 0.03 1.05 0.08 0.25 0.20 0.23 unch 0.00 0.63 0.05 0.06 0.05 0.05 - 0.00 0.24 0.05 0.08 0.00 0.07 unch 0.00 0.28 0.04 0.10 0.09 0.09 - 0.01 0.13 0.03 0.08 0.08 0.08 - 0.00 0.11 0.02 54.03 51.83 52.00 - 1.22 72.02 50.49 0.10 0.10 0.10 - 0.01 0.17 0.08 0.08 0.08 0.08 unch 0.00 0.11 0.05 0.04 0.03 0.04 + 0.01 0.06 0.03 0.03 0.02 0.03 + 0.00 0.04 0.02 0.08 0.08 0.08 unch 0.00 0.18 0.08 0.14 0.11 0.11 - 0.03 0.25 0.06 0.08 0.00 0.08 - 0.00 0.21 0.07 0.12 0.00 0.10 - 0.01 0.29 0.08 0.19 0.15 0.19 + 0.03 0.21 0.12 0.05 0.04 0.05 unch 0.00 0.09 0.04 0.13 0.11 0.13 + 0.01 0.15 0.05 0.10 0.10 0.10 + 0.01 0.11 0.04 0.25 0.22 0.23 - 0.03 0.38 0.16 0.28 0.15 0.26 - 0.02 0.35 0.03 0.09 0.09 0.09 - 0.00 0.11 0.02 0.12 0.11 0.11 unch 0.00 0.14 0.03 0.03 0.02 0.02 unch 0.00 0.05 0.01 0.17 0.17 0.17 - 0.00 0.33 0.08 0.23 0.21 0.21 - 0.01 0.43 0.10

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Bluenose Gold V 57 O 14 Bluestone Res* Bluestone Res V 43 Bold Vent V 64 Bonanza Gldfds* O 284245 BonTerra Res V 3015 BonTerra Res* O 452 Boreal Metals V 2232 Borneo Res Inv* O 87 BQ Metals V 131 Bravada Gold V 395 O 15 Bravada Gold* Braveheart Res* O 32 Braveheart Res V 151 O 108 Bravo Multinat* Brazil Mnrls* O 11971 Brigadier Gold V 238 O 206 BrightRock Gld* Brilliant Sand* O 1 Brio Gold T 108 Britannia Mng* O 135 Brixton Mtls V 217 Brixton Mtls* O 40 Broadway Gold* O 71 Broadway Gold V 191 Brookmount Exp* O 457 Brunswick Res V 10 Bryn Res* O 157 Buccaneer Gold V 96 Buenaventura* N 5415 Buffalo Coal V 1 Bullfrog Gold* O 230 Bullion Gld Res V 365 Bullman Mnls V 9 Bunker Hill 17 BWR Explor V 126

0.15 0.00 0.15 + 0.05 0.15 0.00 0.93 0.88 0.91 - 0.01 1.35 0.86 1.25 1.18 1.20 unch 0.00 1.90 0.95 0.04 0.04 0.04 + 0.01 0.06 0.03 0.00 0.00 0.00 - 0.00 0.00 0.00 0.58 0.49 0.52 + 0.02 0.72 0.32 0.45 0.38 0.42 + 0.05 0.57 0.25 0.30 0.23 0.24 - 0.08 0.40 0.22 0.00 0.00 0.00 + 0.00 0.00 0.00 0.17 0.17 0.17 unch 0.00 0.32 0.15 0.12 0.00 0.10 - 0.02 0.34 0.10 0.08 0.07 0.08 + 0.00 0.26 0.07 0.08 0.07 0.08 unch 0.00 0.08 0.03 0.10 0.08 0.10 + 0.01 0.12 0.04 0.16 0.11 0.12 - 0.04 3.49 0.11 0.00 0.00 0.00 unch 0.00 0.04 0.00 0.11 0.10 0.10 - 0.01 0.20 0.08 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.06 0.06 0.06 unch 0.00 0.12 0.01 2.75 2.51 2.54 - 0.11 3.40 1.54 0.00 0.00 0.00 + 0.00 0.01 0.00 0.33 0.30 0.33 + 0.03 0.54 0.23 0.26 0.23 0.26 + 0.01 0.41 0.18 0.18 0.16 0.17 - 0.01 1.24 0.14 0.24 0.20 0.21 - 0.01 1.65 0.19 0.01 0.01 0.01 unch 0.00 0.13 0.00 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.14 0.13 0.13 - 0.01 0.18 0.03 15.11 14.26 14.84 + 0.47 16.53 10.87 0.02 0.00 0.02 + 0.01 0.02 0.01 0.11 0.09 0.11 + 0.01 0.18 0.05 0.40 0.37 0.40 unch 0.00 0.47 0.08 0.06 0.06 0.06 unch 0.00 0.10 0.06 1.94 1.60 1.60 - 0.36 3.15 1.35 0.07 0.06 0.07 + 0.01 0.10 0.04

Cabral Gold V 721 Cache Expl V 915 Cache Expl* O 2 Cadence Min* O 1 Cadillac Vent V 83 Caledonia Mng* X 25 Caledonia Mng T 7 Calibre Mng V 806 California Gld V 154 California Go* O 3 Callinex Mines V 420 Callinex Mines* O 97 Cameco Corp* N 8791 Cameco Corp T 5125 Cameo Res V 432 Cameo Res* O 25 Camino Mnls* O 6 Camino Mnls V 322 Camrova Res V 56 Camrova Res* O 2 Canada Coal V 1 Canada Cobalt V 855 O 123 Canada Cobalt* Canada One* O 3 Canada One V 124 CanAlaska Uran V 64 CanAlaska Uran* O 46 CanAm Coal* O 2545 Canamex Gold* O 436 Canamex Gold V 360 Canarc Res T 236 Canarc Res* O 111 Canasil Res V 305 Candelaria Mg V 1 T 246 Candente Coppr Candente Gold* O 50 Candente Gold V 1212 Canex Energy* O 5 Canex Energy V 79 V 21 CANEX Metals 10 CANEX Metals * O CaNickel Mng* O 2 CaNickel Mng V 10 Canoe Mng Vent V 225 38 Canoe Mng Vent* O Canterra Mnls V 233 Cantex Mn Dev V 602 Canuc Res V 118 Canuc Res* O 80 Canyon Copper* O 12 V 396 Canyon Copper Capstone Mng T 5915 Caracara Silvr* O 0 Caracara Silvr V 6 Cardero Res V 110 Cardero Res* O 30 Cardinal Res* O 3 Cardinal Res T 41 Cariboo Rose V 430 Carlin Gold V 264 Carmax Mng* O 65 Carmax Mng V 1047 Carrara Explor 298 Cartier Iron 65 Cartier Res V 297 Carube Copper V 521 Carube Copper* O 1 Casa Minerals V 663 Casablanca Mng* O 230 Cascadero Copp V 831 Castle Peak Mg V 3049 Cautivo Mining 102 Cava Res V 245 Cava Res* O 208 Cavan Vent V 1170 Cda Carbon* O 146 Cda Carbon V 390 Cda Rare Earth V 238 Cda Rare Earth* O 26 751 Cda Strtgc Met V Cda Strtgc Met * O 68 Cda Zinc Mtls V 1283 Cdn Intl Mnrls* O 15 Cdn Intl Mnrls V 6 Cdn Metals 174 V 121 Cdn Orebodies Cdn Orebodies* O 12 Cdn Platinum V 130 Cdn Silvr Hunt V 616 Cdn Zinc T 553 Cdn Zinc* O 78 Centamin T 90 Centaurus Diam* O 46 Centenera Mng* O 73 Centenera Mng V 156 Centerra Gold T 3842 Central Iron V 702 Century Global T 46 Cerro Mng V 1 Ceylon Graph V 280 Chakana Copper V 720 Chakana Copper* O 58 Chalice Gold M* O 52 Chalice Gold M T 553 Champion Bear V 65 Champion Bear* O 59 Champion Iron* O 23 Champion Iron T 1799 Chatham Rock* O 10 Chatham Rock V 117 Chesapeake Gld V 65 Chesapeake Gld* O 48 Chevron Corp* N 28610 Chiboug Ind Mn V 183 Chilean Metals* O 205 Chilean Metals V 232 Chimata Gold V 44 China Gold Int T 910 China Mnls Mng V 7 China Mnls Mng* O 5 Cicada Vents V 8 CIM Intl Grp 48 Cipher Res V 78 Claim Post Res V 359 Clarmin Explor V 25 Clean Comm V 992 Clean Comm* O 129 Cleghorn Mnls V 15 Cleveland-Clif* N 71708

0.44 0.29 0.39 + 0.10 0.50 0.28 0.05 0.05 0.05 - 0.01 0.31 0.05 0.04 0.04 0.04 unch 0.00 0.21 0.04 1.85 1.65 1.85 unch 0.00 5.31 1.65 0.04 0.04 0.04 - 0.01 0.06 0.03 7.25 6.82 7.25 + 0.26 7.96 0.06 9.33 9.05 9.20 + 0.10 9.90 6.70 0.09 0.09 0.09 unch 0.00 0.26 0.07 0.24 0.21 0.23 + 0.02 0.64 0.21 0.25 0.16 0.19 + 0.02 0.49 0.16 0.30 0.28 0.29 unch 0.00 0.48 0.28 0.24 0.21 0.22 - 0.00 0.39 0.20 9.37 8.85 8.97 - 0.42 11.91 7.68 12.26 11.45 11.54 - 0.75 15.89 9.90 1.27 1.16 1.22 - 0.05 1.60 0.30 0.99 0.94 0.96 - 0.03 1.11 0.34 0.32 0.29 0.32 + 0.03 1.62 0.21 0.42 0.31 0.36 - 0.03 2.23 0.26 0.10 0.09 0.09 unch 0.00 0.21 0.06 0.07 0.00 0.06 - 0.00 0.15 0.00 0.00 0.00 0.09 unch 0.00 0.12 0.04 0.41 0.34 0.35 - 0.05 0.55 0.15 0.31 0.26 0.28 - 0.01 0.44 0.11 0.06 0.06 0.06 unch 0.00 0.32 0.06 0.12 0.10 0.10 - 0.02 0.52 0.08 0.40 0.38 0.40 + 0.01 0.50 0.26 0.31 0.29 0.31 + 0.02 0.37 0.21 0.00 0.00 0.00 + 0.00 0.01 0.00 0.14 0.10 0.12 - 0.01 0.22 0.06 0.18 0.14 0.15 - 0.02 0.28 0.08 0.07 0.06 0.07 unch 0.00 0.12 0.06 0.06 0.05 0.05 + 0.00 0.09 0.05 0.14 0.12 0.13 - 0.03 0.20 0.10 0.68 0.00 0.68 + 0.08 1.04 0.46 0.10 0.10 0.10 unch 0.00 0.21 0.06 0.02 0.02 0.02 unch 0.00 0.04 0.00 0.03 0.02 0.03 + 0.01 0.06 0.02 0.24 0.24 0.24 unch 0.00 0.24 0.23 0.25 0.18 0.18 - 0.08 0.42 0.20 0.07 0.00 0.07 - 0.01 0.14 0.03 0.06 0.06 0.06 unch 0.00 0.10 0.02 0.10 0.10 0.10 unch 0.00 0.23 0.06 0.14 0.00 0.14 unch 0.00 0.33 0.09 0.17 0.14 0.14 - 0.03 0.25 0.04 0.12 0.12 0.12 unch 0.00 0.15 0.10 0.04 0.00 0.04 + 0.01 0.06 0.02 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.21 0.19 0.21 + 0.03 0.60 0.18 0.16 0.15 0.15 + 0.01 0.41 0.14 0.06 0.04 0.06 + 0.00 0.22 0.04 0.08 0.07 0.07 - 0.01 0.29 0.06 1.38 1.23 1.25 - 0.12 1.62 0.77 0.00 0.00 0.01 unch 0.00 0.01 0.00 0.01 0.00 0.01 unch 0.00 0.03 0.01 0.15 0.13 0.15 - 0.01 0.22 0.07 0.12 0.09 0.09 - 0.01 0.17 0.05 0.44 0.43 0.44 unch 0.00 0.46 0.35 0.56 0.51 0.52 - 0.03 1.05 0.43 0.04 0.04 0.04 unch 0.00 0.16 0.04 0.03 0.03 0.03 - 0.01 0.10 0.03 0.13 0.12 0.12 unch 0.00 0.13 0.03 0.17 0.08 0.11 + 0.02 0.17 0.05 0.44 0.36 0.36 - 0.08 1.00 0.37 0.13 0.13 0.13 - 0.01 0.25 0.05 0.22 0.18 0.19 - 0.01 0.38 0.18 0.10 0.07 0.08 - 0.02 0.14 0.05 0.03 0.03 0.03 unch 0.00 0.11 0.03 0.18 0.15 0.18 + 0.03 0.19 0.07 0.00 0.00 0.00 + 0.00 0.00 0.00 0.12 0.11 0.11 - 0.01 0.16 0.07 0.03 0.02 0.03 + 0.01 0.04 0.02 0.40 0.35 0.35 unch 0.00 0.85 0.20 0.19 0.18 0.18 - 0.02 0.35 0.15 0.15 0.14 0.14 - 0.00 0.29 0.14 0.20 0.17 0.17 - 0.02 0.40 0.02 0.07 0.00 0.06 - 0.00 0.21 0.04 0.08 0.08 0.08 - 0.01 0.27 0.04 0.06 0.05 0.06 unch 0.00 0.10 0.03 0.04 0.03 0.04 + 0.00 0.08 0.02 0.13 0.12 0.12 - 0.01 0.16 0.09 0.10 0.10 0.10 - 0.00 0.12 0.06 0.34 0.30 0.31 - 0.02 0.39 0.22 0.16 0.16 0.16 unch 0.00 0.47 0.06 0.20 0.00 0.20 - 0.01 0.50 0.11 0.15 0.11 0.11 - 0.03 0.20 0.05 0.34 0.00 0.29 - 0.01 0.53 0.17 0.26 0.26 0.26 unch 0.00 0.39 0.14 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.08 0.06 0.07 - 0.01 0.12 0.04 0.14 0.13 0.14 unch 0.00 0.24 0.12 0.11 0.09 0.11 + 0.00 0.19 0.09 2.90 2.78 2.87 + 0.07 3.23 2.19 0.15 0.11 0.14 - 0.01 0.20 0.03 0.16 0.15 0.15 - 0.00 0.21 0.10 0.20 0.18 0.20 + 0.01 0.26 0.15 7.37 7.01 7.31 + 0.03 9.35 5.90 0.02 0.02 0.02 unch 0.00 0.07 0.01 0.24 0.00 0.19 - 0.05 0.30 0.13 0.20 0.00 0.20 unch 0.00 0.22 0.04 0.21 0.18 0.20 + 0.01 0.42 0.15 0.99 0.89 0.99 + 0.01 1.27 0.62 0.74 0.69 0.74 + 0.01 0.78 0.65 0.13 0.12 0.12 - 0.03 0.25 0.10 0.17 0.16 0.17 unch 0.00 0.33 0.15 0.20 0.00 0.14 - 0.03 0.23 0.10 0.16 0.11 0.11 - 0.05 0.18 0.10 0.95 0.89 0.92 + 0.03 1.22 0.61 1.22 1.15 1.16 - 0.03 1.59 0.85 0.21 0.21 0.21 unch 0.00 0.42 0.20 0.30 0.28 0.28 unch 0.00 0.60 0.25 3.00 2.78 2.88 + 0.03 4.24 2.80 2.34 2.15 2.24 + 0.04 3.23 2.16 118.11 112.70 112.98 - 2.42 133.88 102.55 0.06 0.06 0.06 unch 0.00 0.11 0.05 0.04 0.04 0.04 + 0.00 0.13 0.04 0.06 0.06 0.06 unch 0.00 0.18 0.06 0.15 0.13 0.14 + 0.01 0.19 0.05 2.97 2.75 2.80 + 0.01 3.19 1.82 0.34 0.00 0.34 unch 0.00 0.50 0.16 0.27 0.00 0.21 - 0.06 0.32 0.14 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.19 0.19 0.19 unch 0.00 0.79 0.08 0.10 0.08 0.09 + 0.01 0.33 0.08 0.11 0.10 0.11 + 0.01 0.13 0.03 0.21 0.21 0.21 unch 0.00 0.50 0.21 0.10 0.08 0.08 - 0.01 0.21 0.05 0.08 0.07 0.07 - 0.01 0.16 0.03 0.10 0.10 0.10 unch 0.00 0.11 0.05 7.40 6.40 6.65 - 0.86 9.15 5.56

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Clifton Mng* O 159 Cloud Peak En* N 4255 V 80 Clydesdale Res CMC Metals* O 2 CMC Metals V 127 50 CMX Gold & Sil* O 138 CMX Gold & Sil CNRP Mng* O 31 706 Cobalt 27 Cap V Cobalt Block V 1426 Cobalt Block* O 527 Cobalt Pwr Grp* O 1134 Cobalt Pwr Grp V 2462 N 20806 Coeur Mng* Colibri Res V 251 O 205 Colombia Crest* V 195 Colombia Crest Colonial Coal V 2565 O 17 Colorado Gold* O 371 Colorado Res* Colorado Res V 1366 T 357 Columbus Gold O 225 Columbus Gold* Comet Inds V 3 3 Comet Inds * O V 317 Commander Res V 495 Commerce Res O 137 Commerce Res* V 1500 Compass Gold X 2000 Comstock Mng* V 196 Comstock Mtls 7 Comstock Mtls * O Condor Gold T 30 Condor Res V 165 O 16 Confedertn Ml* V 34 Confedertn Mls Conquest Res V 6933 V 66 Cons Woodjam 78 CONSOL Coal Rs* N N 18706 CONSOL Energy* N 2296 CONSOL Energy* O 63 Constantine Mt* V 129 Constantine Mt Contact Gold V 69 O 79 Contact Mnrls* Contintl Gold* O 34 Contintl Gold T 909 Contintl Prec V 12 42 Copper Ck Gold V 13 Copper Ck Gold* O 71 Copper Fox Mtl* O 283 Copper Fox Mtl V 385 Copper Lake Rs V Copper Mtn Mng T 2336 111 Copper Mtn Mng* O 10 Copper North M* O Copper North M V 2177 Copper One V 135 80 Copper One * O 135 Copper Reef Mg Copperbank Res 481 O 181 Copperbank Res* 23 O Coral Gold * Coral Gold V 113 O 164 Cordoba Mnls* Cordoba Mnls V 358 Core Gold V 1017 Core Gold* O 423 Corex Gold V 373 Corex Gold* O 17 V 1145 Cornerstone Ca O 140 Cornerstone Ca* O 1035 Cornerstone Mt* V 1788 Cornerstone Mt Coro Mining T 174 5 O Mtls* Coronet Coronet Mtls 11 21 Corsa Coal * O Corsa Coal V 53 Corvus Gold T 464 Corvus Gold* O 257 CR Capital V 15 0 Crazy Horse Res* O Critical Elem V 757 Critical Elem* O 38 Crown Mining V 616 O 95 Crown Mining* Cruz Cobalt* O 975 Cruz Cobalt V 1503 O 2 Crystal Explor* Crystal Explor V 270 Crystal Lake V 609 Crystal Lake* O 16 Crystal Peak* O 53 Crystal Peak V 41 24 Currie Rose Rs V 4 CWN M’g Acq V Cyclone Uran* O 166 Cypress Dev* O 299 Cypress Dev V 962

0.05 0.10 0.06 0.10 + 0.02 0.14 3.61 3.22 3.23 - 0.30 5.70 2.78 0.04 0.08 0.07 0.07 - 0.01 0.15 0.03 unch 0.00 0.08 0.03 0.03 0.03 0.04 unch 0.00 0.12 0.05 0.05 0.05 0.05 0.05 0.05 unch 0.00 0.09 0.05 0.12 0.10 0.12 unch 0.00 0.12 0.04 0.02 0.34 0.25 0.25 - 0.06 1.98 13.73 12.75 13.03 + 0.12 14.00 7.42 0.01 0.40 0.33 0.40 + 0.06 0.40 0.02 0.32 0.27 0.31 + 0.06 0.31 0.15 0.13 0.14 + 0.01 0.29 0.06 0.20 0.15 0.18 unch 0.00 0.35 0.08 8.23 7.32 8.08 - 0.07 10.24 6.71 0.08 0.10 0.08 0.10 + 0.02 0.28 0.00 0.01 0.01 0.01 - 0.00 0.03 0.01 0.02 0.02 0.02 - 0.01 0.04 0.08 0.25 0.17 0.24 + 0.06 0.25 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.10 0.12 0.10 0.11 - 0.01 0.37 0.13 0.16 0.13 0.14 - 0.02 0.46 0.32 0.43 0.39 0.42 + 0.02 0.99 0.25 0.34 0.29 0.32 + 0.01 0.75 2.50 unch 0.00 3.20 3.10 3.10 3.10 2.38 2.38 2.38 unch 0.00 2.38 2.33 0.03 0.01 0.06 + 0.04 0.04 0.04 0.07 unch 0.00 0.10 0.08 0.00 0.08 0.05 0.07 0.00 0.06 - 0.00 0.08 0.50 unch 0.00 0.80 0.50 0.50 0.50 0.21 0.29 0.25 0.26 - 0.01 1.25 0.06 unch 0.00 0.18 0.06 0.06 0.06 0.05 0.04 0.05 + 0.00 0.13 0.04 0.47 unch 0.00 1.75 0.97 0.00 0.90 0.08 0.11 0.09 0.11 + 0.01 0.19 0.31 0.35 0.31 0.32 + 0.01 0.60 0.40 0.46 0.41 0.41 - 0.05 0.81 0.01 unch 0.00 0.10 0.04 0.03 0.04 0.04 0.07 0.06 0.06 - 0.01 0.09 15.25 14.05 14.05 - 0.45 16.65 12.56 11.69 15.95 15.00 15.41 - 0.09 18.09 19.51 31.31 29.08 29.47 - 1.57 41.89 0.10 0.15 0.14 0.14 - 0.01 0.28 0.12 0.20 0.19 0.20 + 0.01 0.35 0.38 0.40 0.00 0.39 - 0.01 1.10 0.05 0.35 0.15 0.25 + 0.09 0.35 1.90 2.86 2.65 2.86 + 0.19 3.22 2.62 3.70 3.44 3.59 + 0.09 4.31 0.26 0.32 0.32 0.32 - 0.01 0.38 0.38 0.37 0.38 + 0.01 0.40 0.07 0.29 0.29 0.29 unch 0.00 0.29 0.09 0.09 0.08 0.08 - 0.00 0.15 0.08 0.11 0.11 0.11 unch 0.00 0.18 0.11 0.05 0.00 0.05 + 0.01 0.10 0.03 1.33 1.18 1.18 - 0.10 1.85 0.72 1.03 0.92 0.92 - 0.07 1.47 0.54 0.05 0.00 0.03 - 0.02 0.08 0.03 0.06 0.05 0.05 - 0.01 0.11 0.05 0.03 0.17 0.15 0.17 + 0.02 0.22 0.14 0.00 0.14 + 0.01 0.18 0.03 0.03 0.02 0.02 - 0.01 0.04 0.01 0.07 0.09 0.08 0.08 - 0.01 0.18 0.04 0.07 0.06 0.06 - 0.01 0.14 0.32 0.29 0.32 + 0.04 0.35 0.21 0.30 0.41 0.38 0.41 + 0.02 0.43 0.14 0.16 0.14 0.15 - 0.01 1.03 0.18 0.20 0.19 0.20 - 0.01 1.39 0.22 unch 0.00 0.45 0.34 0.29 0.30 0.18 0.26 0.22 0.24 + 0.01 0.34 0.10 0.15 0.13 0.14 + 0.01 0.20 0.07 unch 0.00 0.16 0.11 0.11 0.11 0.15 0.23 0.19 0.20 + 0.01 0.55 0.13 0.16 0.15 0.16 + 0.02 0.44 0.13 0.36 0.25 0.33 + 0.06 0.35 0.06 0.46 0.32 0.41 + 0.05 0.46 0.09 0.11 0.11 0.11 - 0.01 0.16 0.07 unch 0.00 0.24 0.20 0.20 0.20 0.17 unch 0.00 0.25 0.25 0.25 0.25 1.53 1.32 1.38 + 0.02 2.25 1.00 1.34 1.79 1.77 1.77 - 0.01 2.35 0.69 2.13 1.70 2.10 + 0.33 2.01 0.53 1.65 1.33 1.63 + 0.30 1.60 0.07 unch 0.00 0.13 0.10 0.10 0.10 0.00 0.00 0.15 unch 0.00 0.18 0.12 0.67 1.12 0.99 1.01 - 0.08 1.86 0.49 0.86 0.79 0.79 - 0.06 1.48 0.07 0.19 0.15 0.15 - 0.03 0.28 0.05 unch 0.00 0.21 0.15 0.15 0.15 0.12 0.25 0.22 0.22 - 0.02 0.35 0.16 0.33 0.28 0.28 - 0.04 0.41 0.06 unch 0.00 0.12 0.06 0.06 0.06 0.05 0.09 0.07 0.08 - 0.01 0.14 0.16 1.05 0.75 0.80 - 0.21 1.12 0.13 0.76 0.74 0.76 + 0.02 0.84 0.25 0.28 0.25 0.28 + 0.00 0.46 0.31 0.05 0.58 0.33 - 0.37 0.31 0.06 0.00 0.06 unch 0.00 0.11 0.04 0.11 0.11 0.11 - 0.10 0.25 0.11 0.00 unch 0.00 0.02 0.01 0.00 0.00 0.06 0.20 0.19 0.19 + 0.00 0.27 0.08 0.27 0.23 0.23 - 0.01 0.35

Dajin Res V 396 Dajin Res* O 1100 111 Dakota Ter Res* O Daleco Res* O 370 O 122 Dalradian Res* Dalradian Res T 430 Damara Gold V 1162 Damara Gold* O 100 Danakali* O 72 Darien Res V 99 Debut Dmds 80 Decade Res V 409 Decade Res* O 245 Declan Res 60 O 15 Deep-South Res* V 93 Deep-South Res Defiance Silvr V 522 Defiance Silvr* O 172 Delrand Res V 90 T 2317 Denison Mines X 2819 Denison Mines* Desert Gold V 380 Desert Lion V 3890 Detour Gold T 5507 O 624 Diamante Min* Diamcor Mng V 70 Diamcor Mng* O 110 O 665 Diamond Disc* V 23 Diamond Fields O 21 Diamond Fields* Dios Expl V 7773 O 400 Discovery Gold* V 83 Discovery Harb O 145 Discovery Met* V 130 Met Discovery 32438 O Discovery Mnls* V 110 Discovery-Corp Ditem Explor* O 4 O 50 Diversified Rs* DNI Metals 357 DNI Metals* O 49 Dolat Ventures* O 56548 167 Dolly Vard Sil* O 532 Dolly Vard Sil V V 1099 Doubleview Cap DRDGOLD* N 511 50 Duncan Park H V 713 Dundee Prec Mt T O 64 Dunnedin Vent* 240 O Duran Vent * Duran Vent V 679 Durango Res V 409 Durango Res* O 178 DV Resources V 478 119 Dynacor Gld Mn T 29 Dynacor Gld Mn* O O 1 Dynamic Gold* O 6 DynaResource* Dynasty Gold V 52 Dynasty Gold* O 59 E3 Metals V 72 V 59 Eagle Graphite O 15 Eagle Graphite* Eagle Plains V 436 243 V East Africa 50 O East Africa *

0.08 0.14 0.12 0.12 - 0.01 0.22 0.06 0.10 0.09 0.10 - 0.00 0.17 0.09 0.07 0.08 unch 0.00 0.10 0.03 0.00 0.00 0.00 0.00 + 0.00 0.01 0.72 0.83 0.74 0.78 - 0.00 1.37 0.91 1.07 0.98 1.00 - 0.03 1.78 0.04 0.06 0.05 0.05 - 0.01 0.22 0.02 unch 0.00 0.14 0.04 0.04 0.04 0.49 0.57 0.54 0.56 - 0.01 0.65 0.26 unch 0.00 0.74 0.73 0.69 0.73 0.01 unch 0.00 0.02 0.01 0.00 0.01 0.05 0.06 0.06 0.06 - 0.01 0.20 0.04 0.05 0.04 0.04 - 0.00 0.16 0.06 0.22 0.00 0.22 + 0.02 0.34 0.07 0.26 0.26 0.26 + 0.00 0.30 0.08 0.40 0.33 0.36 - 0.05 0.45 0.22 0.34 0.29 0.34 + 0.05 0.44 0.17 0.27 0.23 0.27 + 0.04 0.35 0.90 1.06 0.90 0.90 - 0.14 2.44 0.50 0.62 0.57 0.58 - 0.03 0.88 0.38 0.49 0.44 0.46 - 0.01 0.66 0.14 unch 0.00 0.32 0.24 0.23 0.23 1.20 1.42 1.12 1.25 - 0.15 2.35 11.48 13.30 11.85 13.03 + 1.09 18.88 0.02 0.11 0.06 0.07 + 0.01 0.15 0.35 0.40 0.38 0.39 - 0.01 1.06 0.28 0.31 0.30 0.30 - 0.01 0.78 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.09 0.14 0.11 0.14 + 0.04 0.23 0.06 0.08 0.06 0.08 + 0.02 0.12 0.06 0.19 0.07 0.16 + 0.08 0.19 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.05 unch 0.00 0.10 0.06 0.06 0.06 0.22 unch 0.00 0.69 0.22 0.22 0.22 0.28 0.30 0.28 0.29 - 0.01 0.92 0.00 0.00 0.00 0.00 - 0.00 0.00 0.01 0.02 0.02 0.02 + 0.01 0.04 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.02 unch 0.00 0.15 0.03 0.03 0.03 0.05 unch 0.00 0.16 0.09 0.08 0.08 0.00 0.07 0.00 0.07 - 0.00 0.13 0.03 0.02 0.02 unch 0.00 0.60 0.53 0.56 - 0.02 0.84 0.35 0.78 0.70 0.72 - 0.04 1.04 0.45 0.04 0.10 0.08 0.09 + 0.01 0.11 2.65 2.85 2.66 2.82 + 0.01 5.34 0.02 0.02 0.02 unch 0.00 0.02 0.01 3.33 3.17 3.31 + 0.06 3.38 2.13 0.13 0.25 0.20 0.25 + 0.05 0.26 0.05 0.00 0.05 - 0.00 0.08 0.03 0.04 0.08 0.06 0.06 - 0.02 0.13 0.06 0.08 0.07 0.08 - 0.01 0.19 0.05 0.06 0.05 0.06 + 0.00 0.14 0.05 0.06 0.63 0.38 - 0.45 0.38 1.97 1.86 1.94 + 0.07 2.58 1.50 1.52 1.35 1.51 + 0.09 1.94 1.03 0.52 unch 0.00 2.00 0.75 0.75 0.75 0.65 unch 0.00 1.63 1.22 1.20 1.22 0.10 0.24 0.21 0.21 - 0.01 0.27 0.07 0.22 0.16 0.18 + 0.02 0.22 0.32 0.40 0.34 0.34 - 0.05 1.01 0.02 unch 0.00 0.05 0.03 0.00 0.03 0.01 unch 0.00 0.04 0.02 0.02 0.02 0.13 0.26 0.24 0.25 + 0.01 0.26 0.25 0.00 0.23 - 0.01 0.37 0.18 0.21 0.18 0.21 + 0.03 0.28 0.15

D-F

2018-03-27 5:45 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / APRIL 2–15, 2018

Week

12-month

Exc Volume High Low Last Change High Low

East Asia Mnls* O 0 East Asia Mnls V 281 EastCoal Inc V 0 O 10 Eastern Platin* Eastern Platin T 29 Eastern Zinc V 85 Eastfield Res V 211 Eastmain Res* O 973 Eastmain Res T 3151 Eco Oro Mnls 60 Eco Oro Mnls* O 40 eCobalt Solns T 5675 eCobalt Solns* O 1627 Edgewater Expl* O 4 V 88 Edgewater Expl El Capitan Prc* O 1464 El Nino Vent* O 0 El Nino Vent V 80 Elcora Res V 475 Elcora Res* O 91 Eldorado Gold* N 69229 Eldorado Gold T 19704 Electra Stone V 1422 Eloro Mnrls* O 0 Eloro Mnrls V 102 217 Ely Gold Royal V Ely Gold Royal* O 168 Elysee Dev V 21 Elysee Dev * O 28 Emerita Res V 966 Emgold Mng V 22 Emgold Mng* O 4 Empire Rock V 22 EMX Royalty* X 181 EMX Royalty V 106 O 27 Encanto Potash* Encanto Potash V 364 Endeavour Mng T 1080 Endeavour Mng* O 231 N 7865 Endeavr Silver* Endeavr Silver T 2017 Endurance Gold* O 60 V 18 Endurance Gold Energy Fuels* X 1519 Energy Fuels T 499 Enforcer Gold* O 63 Enforcer Gold V 1268 Engold Mines* O 43 Engold Mines V 29 Entree Gold* X 229 Entree Gold T 74 Equitorial Ex V 4089 Equitorial Ex* O 250 Erdene Res Dev* O 35 Erdene Res Dev T 487 Erin Ventures* O 125 Erin Ventures V 2126 Ero Copper T 28 Ero Copper* O 3 7 Eros Res Corp* O Eros Res Corp V 369 Eros Res Corp V 369 Eskay Mng V 165 Essex Minerals V 250 Ethos Gold* O 66 Ethos Gold V 51 Euro Sun Mg T 296 12 Euro Sun Mg* O EurOmax Res* O 3 EurOmax Res T 14 O 61 European Elect* European Elect V 60 O 1859 European Metal* Eurotin V 110 Everton Res* O 46 Everton Res V 680 EVI Global Grp 6 Evolving Gold 20 Evolving Gold* O 28 Evrim Res V 2555 Excellon Res T 802 Excellon Res* O 418 O 189 Excelsior Mng* Excelsior Mng T 398 25 ExGen Res Inc* O ExGen Res Inc V 327 Explor Res* O 44 Explor Res V 106 Explorex Res* O 222 Explorex Res 363 Fairmile Gold* O 0 Fairmont Res V 22 Falco Res V 673 Falco Res * O 39 Falcon Gold V 200 Fancamp Expl V 188 Far Res* O 188 Far Res 6388 Fengro Industr* O 54 Fengro Industr V 194 Filo Mg Corp V 28 Finlay Minrls V 253 Fiore Gold* O 276 Fiore Gold V 335 0 Fire River Gol* O Firebird Res V 5 Firesteel Res V 234 Firestone Vent V 168 Fireweed Zinc V 145 Fireweed Zinc* O 11 Firma Holdings* O 204 First Bauxite V 193 First Cobalt * O 755 First Cobalt V 1837 First Colombia* O 2900 First Energy* O 0 First Energy V 484 First Liberty* O 9870 First Majestic T 4188 First Majestic* N 15829 First Mexican V 250 First Mg Fin * O 2065 First Mg Fin T 3053 First Point* O 113 First Quantum T 28743 Fission 3.0 V 1151 Fission Uran T 1674 Fission Uran* O 636 Five Star Diam V 218 O 16 Fjordland Exp* Fjordland Exp V 84 Focus Graphite* O 106 Focus Graphite V 333 Focus Vent V 743 Foran Mng V 189 Forsys Metals T 324 14 Fort St James V Fortescue Met* O 8 Fortuna Silvr* N 5374 Fortuna Silvr T 1670 Fortune Bay* O 4 Fortune Bay V 26 Fortune Mnrls* O 676 Fortune Mnrls T 2477 Forum Energy V 337 Forum Energy* O 63 Four Nines 5 Fox River Res 17 Fox River Res* O 2 FPX Nickel V 668 Franco-Nevada* N 3714 Franco-Nevada T 2473 Franklin Mng* O 1 Freedom Egy V 111 Freegold Vent T 417 Freeport McMoR* N 78210 Freeport Res V 50 Fremont Gold V 968 Fremont Gold* O 219 Fresnillo plc* O 8 Frontier Lith V 211 Frontline Gold V 236 Full Metal Mnl V 13 Full Metal Mnl* O 1 Fura Gems V 494 Fura Gems* O 31

0.00 0.00 0.05 unch 0.00 0.49 0.05 0.07 0.06 0.06 - 0.01 0.74 0.06 0.00 0.00 0.12 unch 0.00 0.30 0.07 0.28 0.27 0.28 - 0.01 0.35 0.19 0.39 0.36 0.39 + 0.02 0.50 0.23 0.26 0.26 0.26 + 0.04 0.46 0.15 0.05 0.00 0.04 - 0.01 0.06 0.03 0.17 0.14 0.16 - 0.01 0.38 0.14 0.23 0.16 0.20 - 0.03 0.51 0.16 0.37 0.32 0.33 - 0.01 0.45 0.15 0.25 0.25 0.25 unch 0.00 0.51 0.12 1.70 1.36 1.65 + 0.24 2.10 0.85 1.33 1.02 1.31 + 0.22 1.74 0.61 0.09 0.09 0.09 unch 0.00 0.16 0.09 0.13 0.13 0.13 - 0.01 0.25 0.13 0.04 0.03 0.04 + 0.00 0.09 0.03 0.00 0.00 0.03 unch 0.00 0.06 0.02 0.05 0.05 0.05 unch 0.00 0.08 0.02 0.40 0.28 0.35 + 0.08 0.56 0.13 0.32 0.24 0.29 + 0.07 0.44 0.12 1.10 0.90 0.90 - 0.17 3.78 0.92 1.43 1.15 1.17 - 0.24 5.13 1.18 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.70 0.70 0.70 unch 0.00 0.96 0.53 0.90 0.77 0.83 - 0.07 1.27 0.53 0.12 0.11 0.12 + 0.01 0.16 0.09 0.10 0.08 0.09 + 0.01 0.13 0.07 0.34 0.00 0.33 - 0.03 0.44 0.26 0.27 0.25 0.25 - 0.02 0.31 0.20 0.11 0.09 0.10 unch 0.00 0.18 0.08 0.16 0.15 0.15 - 0.01 0.31 0.15 0.12 0.11 0.11 - 0.01 0.25 0.11 0.22 0.22 0.22 + 0.01 0.30 0.16 0.90 0.85 0.88 + 0.03 1.04 0.67 1.18 1.12 1.15 + 0.02 1.41 0.85 0.04 0.03 0.04 + 0.00 0.08 0.02 0.05 0.00 0.04 unch 0.00 0.11 0.04 24.74 23.76 24.56 + 0.14 26.86 19.77 18.92 18.36 18.92 + 0.15 21.72 14.41 2.55 2.30 2.51 + 0.12 3.73 1.94 3.29 3.01 3.23 + 0.11 5.00 2.50 0.06 0.06 0.06 unch 0.00 0.06 0.04 0.07 0.07 0.07 unch 0.00 0.09 0.05 1.63 1.50 1.62 + 0.07 2.29 1.30 2.09 1.95 2.07 + 0.07 3.05 1.66 0.06 0.06 0.06 unch 0.00 0.18 0.05 0.09 0.08 0.08 - 0.01 0.28 0.07 0.16 0.16 0.16 unch 0.00 0.50 0.14 0.20 0.19 0.20 - 0.01 0.68 0.14 0.43 0.38 0.39 + 0.01 0.69 0.21 0.53 0.49 0.51 + 0.02 0.85 0.45 0.10 0.07 0.10 + 0.02 0.15 0.06 0.05 0.05 0.05 unch 0.00 0.11 0.04 0.36 0.33 0.33 + 0.01 1.00 0.28 0.47 0.42 0.42 unch 0.00 1.40 0.37 0.18 0.16 0.18 unch 0.00 0.23 0.01 0.24 0.10 0.12 - 0.11 0.35 0.08 8.99 8.00 8.61 - 0.44 9.07 4.70 6.62 6.17 6.62 + 0.38 7.25 3.88 0.11 0.10 0.10 - 0.01 0.18 0.10 0.14 0.13 0.13 - 0.01 0.23 0.13 0.14 0.13 0.13 - 0.01 0.23 0.13 0.27 0.25 0.27 unch 0.00 0.51 0.18 0.20 0.18 0.20 + 0.02 0.25 0.12 0.12 0.11 0.12 - 0.01 0.23 0.10 0.16 0.16 0.16 - 0.01 0.28 0.13 1.70 1.51 1.70 + 0.10 2.02 0.67 1.33 0.00 1.33 + 0.08 1.55 0.49 0.15 0.00 0.15 unch 0.00 0.39 0.15 0.22 0.00 0.22 + 0.02 0.52 0.20 0.36 0.23 0.31 - 0.05 0.79 0.14 0.44 0.00 0.41 - 0.09 0.93 0.15 0.01 0.00 0.00 - 0.00 0.01 0.00 0.09 0.07 0.07 - 0.02 0.12 0.04 0.03 0.02 0.02 - 0.00 0.08 0.02 0.04 0.00 0.04 - 0.01 0.11 0.03 0.31 0.00 0.31 - 0.01 0.43 0.02 0.17 0.00 0.15 + 0.03 0.41 0.10 0.13 0.00 0.13 + 0.05 0.32 0.08 0.55 0.41 0.50 + 0.08 0.55 0.19 1.70 1.59 1.62 - 0.08 2.30 1.22 1.30 1.24 1.27 - 0.04 1.87 0.92 1.07 0.98 1.02 + 0.03 1.18 0.52 1.38 1.27 1.29 - 0.02 1.48 0.66 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.04 0.03 0.04 + 0.00 0.08 0.03 0.05 0.05 0.05 unch 0.00 0.10 0.05 0.30 0.21 0.30 + 0.09 0.30 0.12 0.44 0.30 0.38 + 0.04 0.65 0.15 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.02 0.02 0.02 + 0.01 0.13 0.02 0.88 0.81 0.81 unch 0.00 1.65 0.80 0.68 0.00 0.68 + 0.07 1.17 0.60 0.05 0.05 0.05 unch 0.00 0.08 0.04 0.10 0.09 0.09 - 0.01 0.18 0.05 0.40 0.33 0.36 + 0.04 0.87 0.06 0.52 0.43 0.47 + 0.04 1.10 0.08 0.15 0.00 0.15 unch 0.00 0.23 0.11 0.21 0.17 0.20 - 0.01 0.45 0.14 2.45 0.00 2.35 - 0.10 2.80 1.81 0.05 0.05 0.05 unch 0.00 0.34 0.05 0.55 0.49 0.52 + 0.00 0.95 0.22 0.70 0.65 0.67 unch 0.00 1.18 0.60 0.00 0.00 0.05 unch 0.00 0.51 0.00 0.04 0.00 0.04 unch 0.00 0.09 0.01 0.10 0.09 0.10 - 0.01 0.16 0.04 0.13 0.12 0.13 - 0.01 0.19 0.03 1.57 1.38 1.47 unch 0.00 1.95 0.67 1.19 0.00 1.06 - 0.05 1.58 0.54 0.10 0.09 0.09 - 0.01 0.13 0.04 0.05 0.04 0.04 - 0.01 0.05 0.03 0.90 0.84 0.86 + 0.01 1.30 0.31 1.16 1.08 1.13 + 0.02 1.65 0.42 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.17 unch 0.00 0.24 0.10 0.27 0.00 0.26 + 0.03 0.35 0.15 0.00 0.00 0.00 + 0.00 0.00 0.00 8.35 7.45 8.21 + 0.39 12.72 6.24 6.51 5.69 6.36 + 0.42 9.59 4.93 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.38 0.31 0.36 + 0.04 0.72 0.31 0.49 0.41 0.46 + 0.05 0.95 0.41 0.09 0.08 0.08 unch 0.00 0.12 0.06 20.87 16.32 17.36 - 3.83 22.00 9.69 0.05 0.04 0.04 - 0.01 0.09 0.04 0.68 0.63 0.63 - 0.02 0.89 0.53 0.53 0.49 0.50 - 0.01 0.72 0.40 0.18 0.16 0.16 - 0.02 0.55 0.16 0.15 0.12 0.15 - 0.00 0.47 0.07 0.18 0.14 0.16 - 0.02 0.59 0.10 0.05 0.05 0.05 - 0.01 0.08 0.04 0.07 0.06 0.07 unch 0.00 0.11 0.06 0.03 0.02 0.02 unch 0.00 0.07 0.02 0.57 0.54 0.55 - 0.02 0.62 0.24 0.11 0.10 0.10 unch 0.00 0.21 0.10 0.53 0.00 0.51 - 0.02 0.59 0.12 3.72 3.56 3.56 - 0.15 4.88 3.33 5.25 4.67 5.15 + 0.43 5.58 4.03 6.74 6.11 6.63 + 0.43 7.44 5.13 0.30 0.00 0.28 - 0.01 0.50 0.28 0.41 0.00 0.39 - 0.01 0.67 0.35 0.23 0.20 0.21 + 0.00 0.33 0.00 0.29 0.27 0.28 + 0.02 0.38 0.17 0.07 0.05 0.06 + 0.01 0.10 0.04 0.05 0.00 0.05 + 0.01 0.07 0.03 0.16 0.16 0.16 unch 0.00 0.16 0.08 0.07 0.00 0.07 - 0.01 0.15 0.05 0.05 0.00 0.05 - 0.00 0.09 0.02 0.14 0.11 0.14 + 0.02 0.15 0.07 71.07 68.01 69.33 + 0.61 86.06 63.57 91.69 87.90 89.37 - 0.58 110.18 84.76 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.08 0.07 0.07 - 0.01 0.14 0.05 0.09 0.09 0.09 + 0.01 0.19 0.08 19.24 17.51 17.52 - 0.84 20.25 11.05 0.07 0.07 0.07 unch 0.00 0.08 0.03 0.19 0.14 0.16 - 0.02 0.22 0.11 0.15 0.12 0.13 - 0.02 0.17 0.10 17.37 16.30 17.30 + 0.45 22.27 16.10 0.67 0.58 0.60 - 0.07 0.85 0.31 0.02 0.02 0.02 unch 0.00 0.03 0.02 0.13 0.12 0.13 + 0.01 0.15 0.08 0.10 0.09 0.10 + 0.02 0.12 0.05 0.68 0.56 0.57 - 0.03 1.13 0.20 0.54 0.42 0.51 + 0.05 1.23 0.41

Gabriel Res V 34 Gabriel Res* O 36 Gainey Capital V 351 Galane Gold V 817 Galantas Gold* O 6 Galantas Gold V 421 Galore Res V 155

0.39 0.35 0.35 - 0.01 0.45 0.26 0.27 0.26 0.26 - 0.01 0.34 0.20 0.10 0.08 0.10 + 0.02 0.20 0.08 0.07 0.06 0.06 + 0.01 0.12 0.05 0.08 0.07 0.08 + 0.02 0.11 0.05 0.11 0.10 0.11 + 0.01 0.14 0.07 0.03 0.03 0.03 - 0.01 0.07 0.01

G-H

20-23_APRIL2_StockTables.indd 21

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Galway Gold V 280 Galway Mtls* O 576 Galway Mtls V 398 GAR Limited 808 Garibaldi Res V 995 89 Garibaldi Res * O General Moly T 3 General Moly* X 2026 Generic Gold 17 Genesis Mtls* O 78 Genesis Mtls V 390 Gensource Pot V 2228 Gentor Res V 3 Geologix Expl* O 50 Geologix Expl V 347 Geomega Res* O 109 Geomega Res V 480 Gespeg Cop Res V 43 Getty Copper V 128 GFG Resources* O 44 GGL Res* O 0 GGL Res V 42 GGX Gold V 537 Giga Metals* O 85 Giga Metals V 380 Gitennes Expl V 516 Giyani Gold* O 17 Giyani Gold V 142 Glacier Lake V 1474 Gldn Predator* O 230 Gldn Predator V 711 Glen Eagle Res V 200 Glencore Plc* O 1005 Global Atomic V 396 Global Cobalt* O 76 Global Energy V 509 O 24 Global Energy* Global Gold* O 0 O 0 Global Hunter* Global Li-Ion 277 Global Li-Ion* O 29 GlobalMin Vent* O 0 Globex Mng T 234 Globex Mng* O 177 GMV Minerals* O 6 GMV Minerals V 78 GNCC Capital* O 5524 GobiMin V 0 0 God’s Lake Res GoGold Res T 647 Gold Dynamics* O 695 Gold Fields* O 10 Gold Fields* N 22247 Gold Finder Ex V 1045 Gold Finder Ex* O 2 Gold Lakes* O 26 Gold Reserve* O 833 Gold Reserve V 94 X 1167 Gold Resource* Gold Std Vents* X 1532 Gold Std Vents T 415 Goldbank Mng V 6 Goldbank Mng* O 1 Goldbelt Emp V 215 Goldcliff Res* O 90 Goldcliff Res V 109 Goldcorp T 9927 Goldcorp* N 31109 Golden Arrow V 179 Golden Arrow* O 224 Golden Band* O 36 Golden Cariboo V 5 Golden Dawn Ml V 747 Golden Dawn Ml* O 1 Golden Global* O 947 Golden Goliath V 109 O 14 Golden Goliath* Golden Harp* O 1 Golden Harp V 5 Golden Hope V 69 Golden Hope* O 28 Golden Mnls T 42 Golden Mnls* X 1031 Golden Peak Mn V 298 O 898 Golden Queen* Golden Queen T 1113 Golden Reign V 238 Golden Ridge V 1793 Golden Secret V 25 Golden Share V 23 Golden Star T 532 Golden Star* O 0 Golden Star* X 6790 Golden Sun* O 50 Golden Tag V 363 Golden Valley* O 62 Golden Valley V 211 Goldex Res* O 81 Goldex Res V 385 O 815 Goldgroup Mng* Goldgroup Mng T 403 GoldMining V 715 GoldON Res V 54 GoldON Res* O 2 Goldplay Expl V 136 GoldQuest Mng V 763 Goldrea Res 1519 Goldrea Res* O 146 Goldrich Mng* O 48 Goldsource Min* O 98 Goldsource Min V 269 Goldstar Mnls V 91 Goldstream Mnl V 52 Goldstrike Res V 403 Goliath Res V 289 Goliath Res* O 72 Gorilla Min 114 Gossan Res V 88 GoviEx Uranium* O 600 GoviEx Uranium V 1022 Gowest Gold* O 65 Gowest Gold V 1222 GPM Metals* O 1 GPM Metals V 24 Gran Colombia T 157 Gran Colombia* O 47 Granada Gold V 495 O 23 Granada Gold* Grande Portage V 138 O 0 Grande Portage* Granite Ck Gld V 97 Graphite Corp* O 181398 Graphite Egy* O 1311 Graphite Egy 1144 Graphite One* O 780 Graphite One V 1198 Gratomic* O 43 Gratomic V 17439 Gray Rock Res* O 0 Gray Rock Res V 0 Great Atlantic V 788 Great Bear Res V 245 Great Bear Res* O 68 Great Lakes Gr* O 0 X 3741 Great Panther* Great Panther T 602 Great Quest Fe V 167 Great Quest Fe* O 1 Great Thunder V 103 Great Western* O 1967 Green Arrow V 342 Green River 92 Green Swan Cap V 226 Green Valley M V 6 Greencastle Rs V 258 Greenland M&En* O 120 Greenshield Ex V 12 Grenville Gold V 5 Grizzly Discvr V 294 Grizzly Discvr* O 25 Group Eleven V 35 Group Ten Mtls* O 63 Group Ten Mtls V 259 GrowMax Res* O 68 GrowMax Res V 1400 GT Gold V 1426 GT Gold * O 81 GTA Res & Mng V 576 Guerrero Vents V 499 Gungnir Res V 143 Gungnir Res* O 213 Gunpoint Expl V 3 Guyana Gldflds T 2862 Guyana Goldstr V 204 Guyana Goldstr* O 111 Handa Copper* O 75

0.08 0.07 0.07 - 0.01 0.16 0.07 0.19 0.17 0.19 + 0.01 0.36 0.16 0.24 0.23 0.24 + 0.02 0.45 0.21 0.40 0.24 0.24 - 0.15 0.65 0.04 2.84 2.47 2.60 - 0.17 5.27 0.12 2.12 1.90 2.04 - 0.10 4.12 0.10 0.56 0.53 0.56 + 0.03 0.68 0.35 0.44 0.40 0.42 + 0.00 0.53 0.28 0.29 0.00 0.29 - 0.01 0.32 0.28 0.09 0.07 0.07 - 0.00 0.18 0.06 0.11 0.10 0.10 + 0.01 0.22 0.09 0.15 0.12 0.13 + 0.01 0.25 0.06 0.09 0.00 0.09 unch 0.00 0.20 0.07 0.03 0.03 0.03 - 0.00 0.07 0.03 0.05 0.04 0.04 unch 0.00 0.09 0.04 0.06 0.05 0.05 - 0.01 0.08 0.04 0.08 0.07 0.07 unch 0.00 0.13 0.06 0.04 0.04 0.04 unch 0.00 0.08 0.03 0.04 0.03 0.03 unch 0.00 0.04 0.02 0.29 0.24 0.29 + 0.05 0.83 0.24 0.00 0.00 0.13 unch 0.00 0.13 0.10 0.15 0.13 0.13 - 0.02 0.25 0.10 0.13 0.11 0.12 - 0.01 0.24 0.08 0.30 0.29 0.29 + 0.01 0.72 0.11 0.40 0.35 0.35 - 0.03 0.92 0.05 0.08 0.06 0.07 - 0.01 0.15 0.04 0.21 0.19 0.21 + 0.01 0.41 0.17 0.27 0.24 0.25 + 0.01 0.50 0.20 0.10 0.07 0.09 + 0.02 0.19 0.05 0.47 0.39 0.43 + 0.01 1.18 0.39 0.58 0.51 0.54 - 0.01 1.59 0.51 0.17 0.16 0.16 - 0.01 0.31 0.14 10.58 9.86 9.98 - 0.74 11.68 6.90 0.24 0.21 0.21 - 0.01 0.59 0.14 0.01 0.00 0.00 - 0.00 0.43 0.00 0.18 0.15 0.17 + 0.01 0.27 0.10 0.14 0.12 0.13 + 0.01 0.22 0.08 0.00 0.00 2.75 unch 0.00 12.55 1.78 0.00 0.00 0.01 unch 0.00 0.01 0.01 0.45 0.40 0.42 - 0.04 0.97 0.30 0.33 0.31 0.32 - 0.03 0.80 0.23 0.04 0.04 0.04 unch 0.00 0.08 0.04 0.47 0.43 0.44 - 0.01 0.61 0.38 0.35 0.00 0.35 + 0.00 0.48 0.31 0.16 0.15 0.16 + 0.01 0.42 0.14 0.22 0.20 0.22 + 0.03 0.49 0.19 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.34 unch 0.00 0.58 0.33 0.00 0.00 0.35 unch 0.00 0.35 0.04 0.43 0.39 0.42 + 0.02 0.77 0.31 0.00 0.00 0.00 + 0.00 0.01 0.00 3.80 3.80 3.80 unch 0.00 4.80 3.40 4.14 3.71 4.10 + 0.37 4.70 3.06 0.73 0.49 0.51 - 0.20 1.85 0.11 0.58 0.44 0.44 - 0.11 1.33 0.00 0.09 0.05 0.05 - 0.01 5.00 0.01 2.74 2.45 2.45 - 0.10 4.25 1.94 3.57 3.11 3.14 - 0.36 5.35 2.61 4.86 4.56 4.70 + 0.10 5.05 3.08 1.71 1.60 1.66 + 0.01 2.76 1.25 2.21 2.09 2.14 + 0.02 3.68 1.61 0.16 0.13 0.13 - 0.03 0.34 0.06 0.11 0.11 0.11 unch 0.00 0.16 0.05 0.02 0.02 0.02 - 0.01 0.05 0.01 0.13 0.11 0.12 - 0.01 0.41 0.08 0.17 0.14 0.15 - 0.02 0.52 0.11 18.03 17.02 17.87 + 0.36 21.93 15.00 14.03 13.01 13.90 + 0.54 16.38 11.64 0.63 0.58 0.63 + 0.03 0.97 0.37 0.48 0.44 0.47 - 0.00 0.71 0.29 0.00 0.00 0.00 - 0.00 0.01 0.00 0.08 0.08 0.08 - 0.02 0.19 0.05 0.20 0.19 0.20 - 0.01 0.35 0.18 0.14 0.14 0.14 unch 0.00 0.26 0.14 0.19 0.05 0.11 + 0.04 0.19 0.00 0.04 0.00 0.04 unch 0.00 0.07 0.03 0.03 0.02 0.02 - 0.01 0.05 0.02 0.09 0.09 0.09 unch 0.00 0.18 0.06 0.11 0.11 0.11 unch 0.00 0.24 0.01 0.11 0.00 0.11 - 0.01 0.23 0.07 0.09 0.08 0.08 + 0.00 0.18 0.06 0.60 0.00 0.55 + 0.02 0.88 0.46 0.47 0.39 0.46 + 0.08 0.68 0.36 0.31 0.24 0.27 + 0.01 0.52 0.16 0.15 0.14 0.14 - 0.01 0.70 0.12 0.20 0.18 0.18 - 0.02 0.93 0.16 0.22 0.20 0.22 + 0.01 0.37 0.19 0.15 0.12 0.15 + 0.02 0.41 0.11 0.30 0.30 0.30 unch 0.00 0.50 0.19 0.24 0.22 0.24 + 0.01 0.30 0.09 0.85 0.80 0.82 - 0.02 1.20 0.76 0.00 0.00 1.11 unch 0.00 1.50 0.20 0.66 0.62 0.63 + 0.00 0.92 0.59 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.04 0.04 0.04 + 0.01 0.06 0.03 0.21 0.21 0.21 + 0.00 0.27 0.19 0.28 0.27 0.27 - 0.01 0.37 0.24 1.96 1.61 1.95 + 0.29 1.96 0.46 2.56 2.13 2.56 + 0.37 2.56 0.44 0.06 0.04 0.06 + 0.00 0.10 0.03 0.08 0.06 0.08 + 0.01 0.13 0.05 1.24 1.15 1.21 + 0.01 2.10 1.06 0.18 0.15 0.15 unch 0.00 0.21 0.10 0.11 0.11 0.11 unch 0.00 0.16 0.09 0.30 0.00 0.30 unch 0.00 0.34 0.12 0.28 0.25 0.28 + 0.03 0.53 0.24 0.24 0.19 0.21 - 0.02 0.38 0.04 0.18 0.15 0.16 - 0.01 0.30 0.03 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.07 0.05 0.06 - 0.00 0.12 0.04 0.09 0.07 0.07 - 0.01 0.16 0.06 0.06 0.05 0.06 unch 0.00 0.09 0.03 0.13 0.08 0.13 + 0.02 0.13 0.05 0.20 0.19 0.19 - 0.01 0.39 0.18 0.10 0.09 0.10 unch 0.00 0.40 0.08 0.04 0.04 0.04 - 0.04 0.08 0.01 0.26 0.00 0.25 - 0.01 0.30 0.16 0.11 0.09 0.11 + 0.01 0.12 0.05 0.17 0.16 0.16 - 0.01 0.27 0.13 0.22 0.20 0.21 unch 0.00 0.33 0.17 0.09 0.08 0.09 unch 0.00 0.18 0.08 0.12 0.11 0.11 + 0.01 0.25 0.10 0.05 0.05 0.05 unch 0.00 0.11 0.04 0.07 0.06 0.06 - 0.01 0.18 0.06 2.54 2.34 2.37 - 0.04 2.87 1.28 1.94 0.00 1.85 + 0.05 2.20 1.02 0.28 0.25 0.27 + 0.01 0.72 0.21 0.21 0.19 0.21 - 0.00 0.54 0.18 0.24 0.22 0.24 + 0.02 0.71 0.14 0.00 0.00 0.17 unch 0.00 0.56 0.10 0.09 0.09 0.09 unch 0.00 0.17 0.08 0.00 0.00 0.00 + 0.00 0.01 0.00 0.48 0.36 0.45 - 0.01 1.56 0.36 0.62 0.46 0.57 - 0.03 1.76 0.40 0.07 0.06 0.06 - 0.00 0.09 0.03 0.09 0.08 0.09 unch 0.00 0.12 0.04 0.10 0.09 0.10 - 0.00 0.21 0.04 0.16 0.09 0.14 + 0.01 0.32 0.05 0.00 0.00 0.39 unch 0.00 0.44 0.39 0.00 0.00 0.21 unch 0.00 0.57 0.15 0.09 0.08 0.09 + 0.01 0.24 0.07 0.60 0.51 0.60 + 0.04 0.73 0.18 0.47 0.39 0.47 + 0.04 0.59 0.18 0.00 0.00 0.03 unch 0.00 0.08 0.02 1.28 1.14 1.24 + 0.10 1.71 1.06 1.64 1.49 1.57 + 0.08 2.30 1.39 0.14 0.11 0.11 - 0.02 0.24 0.12 0.10 0.10 0.10 unch 0.00 0.16 0.10 0.04 0.03 0.03 unch 0.00 0.10 0.03 0.00 0.00 0.00 - 0.00 0.00 0.00 0.05 0.04 0.04 - 0.01 0.19 0.03 0.07 0.03 0.03 - 0.04 0.09 0.01 0.07 0.06 0.06 - 0.01 0.13 0.05 0.47 0.00 0.43 - 0.05 0.50 0.08 0.12 0.10 0.11 - 0.01 0.18 0.07 0.07 0.07 0.07 - 0.00 0.11 0.06 0.15 0.00 0.15 + 0.01 0.15 0.05 0.08 0.08 0.08 unch 0.00 0.14 0.08 0.13 0.08 0.11 - 0.02 0.14 0.03 0.09 0.07 0.07 - 0.01 0.11 0.03 0.23 0.20 0.22 - 0.01 0.40 0.20 0.19 0.16 0.17 + 0.01 0.23 0.08 0.25 0.20 0.20 - 0.04 0.28 0.09 0.10 0.08 0.08 - 0.00 0.13 0.06 0.12 0.11 0.12 - 0.01 0.19 0.09 0.62 0.48 0.54 + 0.06 2.76 0.32 0.44 0.37 0.43 + 0.06 2.24 0.25 0.04 0.04 0.04 unch 0.00 0.08 0.04 0.02 0.02 0.02 - 0.01 0.03 0.01 0.11 0.10 0.11 unch 0.00 0.22 0.04 0.10 0.07 0.08 + 0.01 0.17 0.03 0.18 0.18 0.18 + 0.01 0.30 0.16 5.42 5.02 5.10 + 0.06 7.85 3.96 0.23 0.19 0.22 + 0.01 0.38 0.14 0.17 0.15 0.17 - 0.01 0.25 0.16 0.06 0.05 0.05 unch 0.00 0.12 0.04

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Handa Copper V 35 Handeni Gold* O 4 Hannan Metals V 20 Hannan Metals* O 29 Happy Ck Mnrls V 46 V 429 Harfang Explor Harmony Gold* N 27953 Harte Gold* O 378 Harte Gold T 990 Harvest Gold V 1 Hawkeye Gld&Di V 163 Hawkeye Gld&Di* O 60 V 36 Heatherdale Rs Hecla Mining* N 47160 Helio Res V 97 Helio Res* O 27 Hellix Vent* O 2 Hemcare Health* O 11 Heron Res T 109 Heron Res* O 145 HFX Holding V 260 Highbank Res V 243 Highfield Res* O 36 Highland Copp* O 121 Highland Copp V 847 85 Highway 50 Gld V HiHo Silver 904 Hinterland Mtl V 393 O 5 Hochschild Mg* Homeland Egy* O 0 Homeland Egy V 4 Honey Badger E V 690 Honey Badger E* O 0 T 18 Horizonte Mnls Hornby Bay Mnl* O 2 356 Hornby Bay Mnl V HudBay Mnls* N 3362 HudBay Mnls T 10993 Hudson Res V 195 Hudson Res* O 52 Hunt Mng* O 7 Hunt Mng V 19 Hut 8 Mining* O 8 Hut 8 Mining V 631 Hybrid Mineral V 174 Hycroft Mg* O 0

0.08 0.00 0.07 - 0.01 0.18 0.06 0.11 0.00 0.11 unch 0.00 0.14 0.02 0.28 0.25 0.25 - 0.02 0.50 0.20 0.21 0.19 0.20 - 0.01 0.36 0.17 0.22 0.20 0.20 - 0.02 0.26 0.14 0.25 0.23 0.24 - 0.01 0.35 0.22 2.38 2.10 2.33 + 0.20 2.78 1.56 0.36 0.32 0.34 + 0.02 0.66 0.26 0.46 0.42 0.45 + 0.04 0.87 0.33 0.00 0.00 0.05 unch 0.00 0.06 0.03 0.09 0.07 0.07 - 0.01 0.12 0.05 0.06 0.05 0.05 - 0.00 0.09 0.04 0.05 0.05 0.05 unch 0.00 0.08 0.04 3.71 3.25 3.65 - 0.20 6.17 3.25 0.15 0.13 0.14 + 0.01 1.00 0.13 0.09 0.09 0.09 - 0.00 0.59 0.00 0.01 0.01 0.01 unch 0.00 0.23 0.01 0.51 0.30 0.35 - 0.15 2.30 0.11 0.68 0.66 0.67 + 0.06 0.80 0.56 0.53 0.00 0.53 - 0.07 1.35 0.53 0.10 0.00 0.10 unch 0.00 0.12 0.04 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.57 0.57 0.57 unch 0.00 0.57 0.57 0.12 0.11 0.11 + 0.00 0.14 0.06 0.15 0.13 0.13 - 0.02 0.17 0.09 0.28 0.22 0.24 - 0.11 0.66 0.22 0.09 0.06 0.06 - 0.02 0.14 0.03 0.04 0.03 0.04 + 0.01 0.05 0.02 2.85 2.85 2.85 unch 0.00 4.37 2.84 0.00 0.00 0.22 unch 0.00 0.24 0.22 0.29 0.00 0.29 unch 0.00 0.56 0.18 0.07 0.05 0.05 - 0.01 0.15 0.04 0.00 0.00 0.06 unch 0.00 0.06 0.03 0.08 0.08 0.08 unch 0.00 0.11 0.04 0.07 0.06 0.06 - 0.01 0.07 0.00 0.07 0.06 0.07 + 0.01 0.08 0.00 7.95 7.10 7.15 - 0.65 10.25 4.60 10.27 9.16 9.19 - 1.07 12.65 6.13 0.57 0.49 0.50 - 0.06 0.80 0.38 0.43 0.00 0.39 - 0.06 0.60 0.29 0.34 0.30 0.34 + 0.00 0.41 0.11 0.45 0.45 0.45 unch 0.00 0.51 0.13 3.00 2.74 2.74 - 0.24 3.74 2.80 4.14 3.36 3.37 - 0.51 5.00 0.04 0.54 0.48 0.53 + 0.01 0.55 0.12 0.00 0.00 0.02 unch 0.00 2.00 0.01

I-Minerals* O 14 I-Minerals V 15 IAMGOLD T 4945 IAMGOLD* N 22852 Icon Explor* O 1 Iconic Mnls * O 40 Iconic Mnls V 1015 IDM Mining* O 630 IDM Mining V 995 IEMR Res V 113 IGC Res V 136 iMetal Res* O 3 iMetal Res V 224 IMPACT Silver V 644 Impala Platnm* O 2 Imperial Metal* O 49 Imperial Metal T 192 Imperial Mg Gr V 100 190 Inca One Gold* O Inca One Gold V 411 Inception Mng * O 31 Independence G V 157 O 29 Independence G* Indiana Res* O 1 Indico Res V 4000 Indigo Expl V 350 Infinite Lith V 283 Infinite Lith* O 7 Infrastructure* O 8 Inomin Mines V 92 O 32 Inspiration Mg* Inspiration Mg 326 Intact Gold* O 1 Intact Gold V 378 Integra Res* O 74 Integra Res V 369 Inter-Rock Mnl* O 85 Inter-Rock Mnl V 5 Interconnect V 115 Intercontinent* O 0 Intercontinent V 2 Intgr Egy Sol* O 5300 Intl Battery* O 6523 Intl Battery 10725 Intl Bethl Mng V 82 Intl Cobalt* O 57 Intl Cobalt 3310 Intl Corona V 491 Intl Lithium* O 285 Intl Lithium V 786 101 Intl Millm Mng V Intl Montoro V 519 Intl Prospect * O 2 Intl Prospect V 27 Intl Samuel Ex V 426 Intl Star* O 640589 Intl Tower Hil T 96 Intl Tower Hil* X 1180 Intl Zeolite V 337 Intl Zeolite* O 21 Intrepid Pots* N 2962 INV Metals* O 25 INV Metals T 55 Inventus Mg * O 53 Inventus Mg V 114 InZinc Mining V 265 InZinc Mining* O 289 Ireland* O 5 Ironside Res V 10 Ironside Res * O 2 Irving Res 243 Irving Res* O 196 IsoEnergy Ltd V 649 Itafos* O 18 Itafos V 23 Itoco Mg Corp* O 3 Ivanhoe Mines* O 2018 Ivanhoe Mines T 13766 Jade Leader V 69 Jade Leader* O 229 Jaguar Mng T 431 Jaguar Mng* O 6 Japan Gold V 491 Japan Gold* O 25 Jasper Mng V 113 Jaxon Mining* O 9 Jaxon Mining V 518 Jayden Res* O 0 Jayden Res V 297 JDF Explor Inc 8 V 55 Jiminex Jiulian Res V 10 Jourdan Res V 816 Jubilee Gold V 5 Jubilee Metals* O 16 Juggernaut Exp V 436 K2 Gold V 40 K92 Mng Inc* O 758 K92 Mng Inc V 618 Kaizen Discov V 75 Kaizen Discvry* O 3 Kapuskasing Gd V 224 Karmin Expl V 25 Karnalyte Res T 17 Karoo Expl V 160 KAT Expl* O 12110 Katanga Mng T 3910 Kenadyr Mining V 982 Kenadyr Mining* O 99 Kennady Diam V 51 Kermode Res V 1308 Kerr Mines* O 67 Kerr Mines T 322 Kesselrun Res* O 12 Kesselrun Res V 559 Kestrel Gold V 153 Khan Res 207 Kilo Goldmines* O 38 Kilo Goldmines V 773 Kincora Copper V 409 Kings Bay Res V 237 Kingsmen Res V 9 Kingsmen Res* O 275 Kinross Gold T 16541 Kinross Gold* N 54426 Kintavar Exp V 392 Kirkland Lake* N 3830

0.23 0.21 0.21 - 0.02 0.44 0.18 0.30 0.27 0.27 - 0.02 0.60 0.24 6.87 6.40 6.76 + 0.33 8.87 4.89 5.35 4.88 5.24 + 0.34 7.25 3.55 0.30 0.30 0.30 unch 0.00 0.59 0.15 0.09 0.07 0.08 + 0.00 0.28 0.03 0.13 0.10 0.11 unch 0.00 0.43 0.04 0.07 0.05 0.07 + 0.00 0.13 0.06 0.08 0.08 0.08 unch 0.00 0.18 0.08 0.03 0.02 0.02 - 0.01 0.05 0.01 0.03 0.01 0.02 - 0.23 0.25 0.05 0.09 0.09 0.09 unch 0.00 0.12 0.04 0.11 0.09 0.09 - 0.01 0.18 0.04 0.48 0.39 0.46 + 0.05 0.73 0.26 2.18 2.18 2.18 unch 0.00 3.35 2.10 1.73 1.60 1.66 - 0.04 4.74 1.66 2.27 2.02 2.12 - 0.15 6.39 2.14 0.12 0.00 0.12 + 0.04 0.27 0.08 0.06 0.05 0.05 - 0.01 0.12 0.04 0.08 0.07 0.08 + 0.01 0.16 0.06 0.27 0.00 0.20 - 0.06 0.45 0.11 0.12 0.10 0.11 unch 0.00 0.26 0.10 0.08 0.07 0.07 - 0.01 0.20 0.07 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.04 0.03 0.04 unch 0.00 0.06 0.03 0.18 0.17 0.17 - 0.01 0.45 0.12 0.15 0.14 0.14 + 0.00 0.34 0.07 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.14 0.13 0.13 - 0.01 0.20 0.02 0.07 0.07 0.07 + 0.00 0.20 0.01 0.11 0.10 0.10 - 0.01 0.27 0.01 0.13 0.13 0.13 unch 0.00 0.25 0.08 0.24 0.16 0.24 + 0.09 0.50 0.15 0.85 0.81 0.83 + 0.06 1.50 0.05 1.10 1.04 1.06 - 0.04 1.40 0.96 0.35 0.35 0.35 unch 0.00 0.35 0.19 0.46 0.41 0.41 - 0.05 0.59 0.11 0.08 0.08 0.08 unch 0.00 0.09 0.05 0.00 0.00 0.12 unch 0.00 0.16 0.05 0.16 0.00 0.16 - 0.01 0.20 0.07 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.51 0.33 0.46 + 0.14 1.11 0.15 0.66 0.42 0.60 + 0.17 1.38 0.26 0.10 0.08 0.10 + 0.02 0.17 0.03 0.22 0.20 0.21 - 0.00 0.31 0.15 0.28 0.25 0.26 - 0.01 0.45 0.08 0.06 0.05 0.06 - 0.01 0.12 0.03 0.10 0.07 0.07 - 0.02 0.18 0.06 0.12 0.09 0.10 - 0.02 0.23 0.07 0.03 0.03 0.03 unch 0.00 0.05 0.01 0.06 0.05 0.05 unch 0.00 0.15 0.03 0.13 0.12 0.12 + 0.01 0.28 0.05 0.24 0.00 0.24 + 0.06 0.36 0.04 0.06 0.05 0.05 - 0.01 0.15 0.05 0.00 0.00 0.00 - 0.00 0.00 0.00 0.71 0.58 0.71 + 0.11 0.82 0.38 0.56 0.45 0.56 + 0.09 0.67 0.29 0.38 0.29 0.38 + 0.06 0.93 0.26 0.28 0.00 0.28 + 0.05 0.72 0.20 3.83 3.60 3.65 - 0.09 5.12 1.52 0.46 0.46 0.46 unch 0.00 0.80 0.44 0.60 0.57 0.57 - 0.01 1.07 0.56 0.17 0.15 0.16 + 0.00 0.31 0.11 0.21 0.19 0.21 + 0.02 0.39 0.13 0.16 0.14 0.15 unch 0.00 0.26 0.10 0.12 0.10 0.12 - 0.00 0.19 0.07 0.16 0.16 0.16 + 0.02 0.32 0.09 0.13 0.12 0.12 - 0.01 0.21 0.07 0.09 0.09 0.09 unch 0.00 0.12 0.05 1.20 1.09 1.20 + 0.07 1.54 0.60 0.93 0.84 0.90 + 0.03 1.24 0.09 0.45 0.36 0.36 - 0.06 1.17 0.26 2.20 2.09 2.09 - 0.07 2.25 0.97 2.83 0.00 2.68 - 0.14 2.90 1.14 0.25 0.00 0.15 - 0.01 3.83 0.15 2.38 2.09 2.19 - 0.10 4.10 2.09 3.07 2.74 2.81 - 0.19 5.47 2.73 0.50 0.32 0.38 + 0.01 0.50 0.04 0.38 0.26 0.38 + 0.09 0.38 0.03 0.39 0.36 0.38 - 0.01 0.68 0.22 0.29 0.27 0.29 + 0.01 0.51 0.18 0.28 0.22 0.22 - 0.07 0.40 0.19 0.22 0.22 0.22 unch 0.00 0.30 0.16 0.10 0.09 0.09 - 0.01 0.18 0.06 0.09 0.09 0.09 + 0.01 0.27 0.08 0.14 0.12 0.14 + 0.02 0.41 0.05 0.00 0.00 0.07 unch 0.00 0.30 0.05 0.10 0.09 0.09 unch 0.00 0.38 0.07 0.05 0.00 0.05 unch 0.00 0.05 0.01 0.03 0.03 0.03 + 0.01 0.06 0.01 0.05 0.05 0.05 unch 0.00 0.06 0.02 0.11 0.09 0.09 - 0.01 0.20 0.04 0.59 0.41 0.55 unch 0.00 0.73 0.35 0.04 0.04 0.04 unch 0.00 0.06 0.04 0.23 0.20 0.21 unch 0.00 0.59 0.10 0.25 0.24 0.24 - 0.02 0.56 0.18 0.50 0.43 0.50 + 0.03 0.86 0.31 0.63 0.57 0.63 - 0.01 1.06 0.41 0.09 0.08 0.09 + 0.01 0.23 0.07 0.08 0.08 0.08 unch 0.00 0.17 0.05 0.03 0.02 0.03 + 0.01 0.08 0.02 0.92 0.85 0.85 unch 0.00 1.50 0.32 0.47 0.00 0.43 - 0.04 0.80 0.40 0.80 0.74 0.75 - 0.05 1.10 0.01 0.00 0.00 0.00 unch 0.00 0.00 0.00 2.08 1.78 1.85 - 0.21 2.83 0.26 0.16 0.12 0.14 + 0.01 1.00 0.10 0.11 0.10 0.11 + 0.01 1.45 0.08 3.10 2.78 3.10 + 0.05 3.97 2.45 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.18 0.17 0.18 - 0.00 0.34 0.11 0.23 0.22 0.23 + 0.01 0.41 0.15 0.07 0.06 0.06 - 0.00 0.17 0.06 0.10 0.09 0.10 + 0.01 0.23 0.08 0.05 0.04 0.05 unch 0.00 0.19 0.03 0.11 0.11 0.11 - 0.01 0.18 0.05 0.03 0.03 0.03 + 0.00 0.06 0.02 0.05 0.04 0.04 - 0.01 0.08 0.03 0.17 0.15 0.16 + 0.01 0.57 0.14 0.10 0.09 0.09 unch 0.00 0.18 0.06 0.15 0.15 0.15 unch 0.00 0.20 0.10 0.12 0.12 0.12 unch 0.00 0.13 0.07 5.01 4.67 4.96 + 0.21 6.29 4.44 3.89 3.57 3.84 + 0.22 4.91 3.35 0.44 0.39 0.43 + 0.03 0.65 0.10 16.06 14.56 15.76 + 1.08 16.89 6.30

I-J-K

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Kirkland Lake T 3639 Kitrinor Mtls V 185 Kivalliq Enrgy V 671 Klondex Mines T 15116 Klondike Gold V 1034 O 161 Klondike Gold* Klondike Silv V 253 Klondike Silv* O 63 Knick Expl V 507 V 153 Kombat Copper Komet Resource V 208 Kootenay Silvr* O 62 Kootenay Silvr V 856 Kootenay Zinc 408 58 Kutcho Copper * O KWG Res* O 500 KWG Res 4310

20.62 19.05 20.30 + 0.93 21.03 8.67 24.76 21.15 21.45 - 3.13 34.45 4.05 0.08 0.07 0.07 - 0.01 0.13 0.07 3.14 2.86 3.02 + 1.22 6.25 1.66 0.28 0.25 0.25 - 0.01 0.60 0.22 0.21 0.18 0.19 - 0.00 0.49 0.16 0.09 0.08 0.08 unch 0.00 0.10 0.04 0.07 0.05 0.06 - 0.00 0.08 0.02 0.03 0.02 0.02 unch 0.00 0.08 0.02 0.31 0.26 0.30 + 0.01 0.49 0.21 0.40 0.39 0.40 + 0.01 0.42 0.31 0.15 0.13 0.15 + 0.01 0.25 0.13 0.19 0.17 0.19 + 0.03 0.33 0.17 0.35 0.23 0.29 + 0.01 6.30 0.23 0.42 0.38 0.41 + 0.01 0.84 0.22 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.02 0.02 0.02 unch 0.00 0.03 0.01

La Imperial 20 Labdr Iron Mns* O 94 Labrador Gold V 329 Labrador Iron T 832 Lara Expl V 83 Laramide Res T 1915 Laredo Res* O 20937 Largo Res T 940 Largo Res* O 153 Lateral Gold V 21 Latin Am Mnls V 248 5 Latin Am Mnls* O Laurion Mnl Ex* O 41 81 Laurion Mnl Ex V Le Mare Gold* O 47 Lead Ventures 68 LeadFX Inc* O 2 Leading Edge* O 385 Leading Edge V 325 Leagold Mg T 717 Leagold Mg* O 523 Leeta Gold V 5418 Legion Metals 32 Lepanto Con Mg* O 50 Levon Res Ltd T 217 Levon Res Ltd * O 77 Libero Copper V 60 Liberty Gold* O 559 Liberty One Li V 876 Liberty One Li* O 1892 LiCo Energy* O 1769 LiCo Energy V 2084 Lincoln Mng V 442 Lion One Mtls V 106 Lion One Mtls* O 34 Lions Bay Cap V 25 Lions Gate Mtl* O 8 Lithion Energy* O 1 988 Lithium Amer* N 930 Lithium Amer T Lithium Chile V 281 Lithium Chile* O 4 Lithium Corp* O 1268 Lithium Energi* O 18 Lithium Energi V 1162 Lithium Energy V 130 Lithium Expl* O 5466 Lithium X Egy* O 10248 Lithium X Egy V 8477 Lithoquest Dia V 67 LKA Gold* O 12 O 0 Lode-Star Mg* Lomiko Mtls* O 183 Lomiko Mtls V 596 Loncor Res* O 0 Loncor Res T 38 Lone Star Gold* O 437 Lonmin plc* O 12 Lonmin plc* O 15 O 23 Lorraine Coppr* Lorraine Coppr V 29 65 Los Andes Copp V LSC Lithium* O 8 Lucara Diam T 2238 Lucky Mnls * O 31 Lucky Mnls V 141 Lumina Gold* O 15 Lumina Gold V 301 Lund Enterpr V 37 Lundin Gold T 134 Lundin Mng T 14245 Lupaka Gold V 428 Lydian Intl* O 156 Lydian Intl T 770 Lynas Corp* O 233 Lynas Corp* O 136

0.07 0.07 0.07 unch 0.00 0.08 0.04 0.02 0.02 0.02 + 0.01 0.10 0.00 0.26 0.22 0.23 unch 0.00 0.26 0.04 23.72 22.33 22.40 - 1.33 28.55 15.10 0.75 0.71 0.72 - 0.01 1.11 0.50 0.31 0.25 0.26 - 0.05 0.62 0.23 0.01 0.01 0.01 + 0.00 0.01 0.00 1.37 1.27 1.34 - 0.01 1.44 0.34 1.08 0.98 1.03 - 0.00 1.15 0.26 0.70 0.66 0.66 - 0.04 1.27 0.59 0.12 0.09 0.10 - 0.02 0.20 0.07 0.07 0.07 0.07 unch 0.00 0.12 0.06 0.04 0.03 0.03 + 0.00 0.05 0.01 0.06 0.05 0.06 + 0.01 0.07 0.01 0.15 0.03 0.03 - 0.06 3.40 0.03 0.40 0.20 0.33 + 0.12 0.60 0.06 1.44 1.44 1.44 unch 0.00 1.57 0.26 0.58 0.46 0.58 + 0.10 0.80 0.38 0.75 0.59 0.75 + 0.11 1.01 0.51 2.80 2.66 2.69 - 0.08 3.48 2.27 2.18 2.05 2.09 - 0.04 2.80 1.76 1.57 1.31 1.54 + 0.17 6.75 0.09 0.12 0.00 0.12 + 0.01 0.21 0.10 0.01 0.01 0.01 unch 0.00 0.02 0.00 0.30 0.29 0.30 - 0.01 0.49 0.28 0.24 0.22 0.23 - 0.00 0.37 0.21 0.09 0.09 0.09 unch 0.00 0.19 0.07 0.35 0.31 0.34 + 0.03 0.44 0.27 0.55 0.45 0.48 + 0.05 2.49 0.36 0.42 0.35 0.38 + 0.03 1.95 0.27 0.10 0.08 0.09 + 0.00 0.90 0.06 0.12 0.11 0.11 - 0.01 0.20 0.08 0.04 0.03 0.03 - 0.01 0.07 0.03 0.65 0.59 0.60 - 0.03 0.85 0.45 0.51 0.45 0.48 + 0.02 0.64 0.36 0.12 0.12 0.12 unch 0.00 0.25 0.10 0.16 0.16 0.16 unch 0.00 0.42 0.08 0.08 0.08 0.08 unch 0.00 0.12 0.07 6.42 6.00 6.06 - 0.47 10.95 2.98 8.39 7.76 7.81 - 0.46 14.06 3.90 0.91 0.84 0.86 - 0.04 1.35 0.42 0.72 0.72 0.72 unch 0.00 0.90 0.66 0.30 0.20 0.22 - 0.08 0.62 0.05 0.35 0.30 0.34 - 0.00 0.75 0.07 0.45 0.32 0.41 - 0.02 0.97 0.07 0.05 0.05 0.05 - 0.01 0.08 0.04 0.02 0.02 0.02 - 0.00 0.13 0.02 2.01 1.95 1.99 unch 0.00 2.05 1.04 2.58 2.54 2.57 unch 0.00 2.58 1.40 0.28 0.25 0.26 - 0.02 0.47 0.25 0.20 0.00 0.13 - 0.07 0.63 0.11 0.02 0.02 0.02 unch 0.00 0.10 0.02 0.09 0.06 0.06 - 0.02 0.25 0.03 0.11 0.09 0.09 - 0.01 0.31 0.09 0.00 0.00 0.07 unch 0.00 0.14 0.05 0.09 0.09 0.09 - 0.01 0.20 0.08 0.01 0.00 0.01 - 0.00 0.03 0.00 0.90 0.81 0.84 unch 0.00 1.63 0.79 0.81 0.00 0.81 - 0.09 1.37 0.81 0.10 0.10 0.10 + 0.01 0.12 0.05 0.15 0.13 0.15 unch 0.00 0.19 0.06 0.30 0.30 0.30 unch 0.00 0.47 0.17 0.95 0.00 0.83 - 0.13 1.31 0.81 2.25 2.06 2.08 - 0.16 3.31 2.07 0.10 0.08 0.10 + 0.02 0.18 0.07 0.13 0.11 0.13 + 0.01 0.23 0.09 0.61 0.55 0.55 - 0.05 0.70 0.46 0.74 0.70 0.72 - 0.03 1.00 0.60 0.13 0.00 0.13 unch 0.00 0.24 0.09 5.45 5.08 5.17 - 0.33 6.50 4.07 9.09 8.28 8.33 - 0.56 10.22 6.62 0.24 0.22 0.22 - 0.01 0.29 0.11 0.36 0.32 0.33 - 0.00 0.50 0.23 0.45 0.41 0.42 - 0.03 0.63 0.31 2.00 1.90 1.91 - 0.02 2.00 0.05 1.99 1.87 1.89 - 0.04 2.00 0.51

M Macarthur Mnl V 2510 0.06 0.05 0.05 unch 0.00 0.13 0.05 Macarthur Mnl* O 70 0.05 0.04 0.05 + 0.01 0.10 0.04 O 7 0.07 0.06 0.07 - 0.00 0.20 0.06 MacDonald Mns* V 260 0.09 0.07 0.08 + 0.01 0.28 0.07 MacDonald Mns MacMillan Mnls V 16 1.69 1.65 1.65 - 0.05 1.90 1.24 unch 0.00 0.05 0.02 Madeira Mrnls V 5 0.04 0.04 0.04 MAG Silver T 913 13.95 13.18 13.85 + 0.30 19.37 11.71 Magellan Gold* O 535 0.03 0.02 0.03 + 0.01 0.19 0.02 unch 0.00 0.09 0.04 Magna Terra V 208 0.06 0.05 0.06 Magna Terra* O 3 0.04 0.04 0.04 unch 0.00 0.06 0.03 Magnus Intl* O 19 0.00 0.00 0.00 - 0.00 0.01 0.00 Majestic Gold V 1332 0.06 0.05 0.05 - 0.01 0.11 0.04 Majestic Gold* O 58 0.04 0.04 0.04 + 0.01 0.07 0.03 Makena Res* O 5 0.08 0.08 0.08 unch 0.00 0.15 0.08 0.09 Makena Res 17 0.10 0.00 0.09 - 0.01 0.24 Mammoth Res V 50 0.08 0.06 0.08 + 0.02 0.16 0.05 Manado Gold V 10 0.07 0.07 0.07 unch 0.00 0.24 0.05 Mandalay Res T 710 0.23 0.22 0.23 unch 0.00 0.63 0.22 Mandalay Res* O 66 0.18 0.16 0.18 + 0.00 0.47 0.16 Manganese X* O 41 0.15 0.15 0.15 - 0.00 0.21 0.07 0.08 Manganese X V 833 0.20 0.18 0.19 + 0.01 0.28 Mangazeya Mng V 101 0.02 0.02 0.02 unch 0.00 0.04 0.02 Manitou Gold V 211 0.14 0.12 0.13 + 0.01 0.19 0.05 0.21 Maple Gold V 988 0.25 0.23 0.24 + 0.01 0.36 Maple Gold* O 337 0.20 0.18 0.19 + 0.00 0.27 0.16 Marathon Gold T 366 0.99 0.91 0.95 + 0.01 1.36 0.88 Marathon Gold* O 148 0.78 0.70 0.72 + 0.03 1.14 0.67 Margaret Lake V 869 0.15 0.11 0.14 - 0.01 0.15 0.05 Margaret Lake* O 0 0.09 0.09 0.09 unch 0.00 0.09 0.09 Margaux Res* O 4 0.22 0.22 0.22 unch 0.00 0.27 0.16 Margaux Res V 212 0.27 0.24 0.25 - 0.01 0.39 0.18 Marifil Mines* O 18 0.12 0.10 0.10 - 0.01 0.17 0.04 Marifil Mines V 153 0.17 0.12 0.12 - 0.04 0.32 0.11 Maritime Res V 2118 0.12 0.11 0.12 + 0.02 0.15 0.09 Marlin Gold V 197 0.42 0.39 0.41 - 0.01 1.15 0.38 Martina Mnls V 3 0.04 0.04 0.04 unch 0.00 0.07 0.02 MartinMarietta* N 3486 209.27 201.54 205.68 - 1.52 244.32 191.09 Mason Graphite* O 176 1.60 1.38 1.51 + 0.05 2.47 0.91 Mason Graphite V 242 2.06 1.82 1.93 + 0.03 3.15 1.22 Mason Res* O 38 0.16 0.15 0.16 + 0.01 0.29 0.01 Mason Res T 127 0.21 0.19 0.21 + 0.01 0.40 0.13 Matachewan Con V 65 0.25 0.24 0.24 - 0.01 0.34 0.21 Matamec Expl V 113 0.03 0.00 0.03 unch 0.00 0.07 0.03 Matamec Expl* O 86 0.03 0.02 0.02 - 0.01 0.05 0.02 Matica Ent 15537 0.39 0.35 0.39 + 0.03 0.81 0.04 Matica Ent* O 1248 0.31 0.26 0.29 + 0.00 0.64 0.03 Matmown* O 131 0.01 0.01 0.01 unch 0.00 0.02 0.01 Maudore Mnrls* O 21 0.00 0.00 0.00 unch 0.00 0.00 0.00 Maverix Mtls* O 3 1.30 0.00 1.26 - 0.04 1.50 0.92 Mawson Res T 267 0.58 0.49 0.50 + 0.02 0.65 0.29 Mawson Res* O 56 0.45 0.36 0.44 + 0.06 0.48 0.24 MAX Res V 428 0.25 0.20 0.22 - 0.03 0.32 0.06 MaxTech Vent 217 0.50 0.40 0.42 - 0.09 0.62 0.14 MaxTech Vent* O 232 0.39 0.32 0.33 - 0.06 0.48 0.13 Maxwell Res* O 6 0.01 0.01 0.01 - 0.00 0.04 0.00 Maya Gold &Sil* O 9 1.88 1.78 1.78 + 0.04 2.35 0.33 Maya Gold &Sil V 317 2.48 2.30 2.30 + 0.02 2.92 0.48 Mazarin V 121 0.12 0.10 0.12 + 0.02 0.18 0.03 MBMI Res* O 0 0.00 0.00 0.03 unch 0.00 0.09 0.00 MBMI Res V 4 0.08 0.00 0.08 unch 0.00 0.13 0.03 McChip Res V 21 0.65 0.55 0.60 + 0.05 0.87 0.37 McEwen Mng T 1238 2.83 2.58 2.76 + 0.09 4.40 2.33 McEwen Mng* N 10915 2.20 1.96 2.15 + 0.14 3.30 1.82 McLaren Res 69 0.09 0.07 0.07 - 0.01 0.19 0.03 0.09 MDN Inc* O 47 0.25 0.21 0.25 + 0.05 0.59 Meadow Bay Gd* O 117 0.17 0.14 0.14 - 0.04 0.28 0.04 Meadow Bay Gd V 347 0.26 0.25 0.25 unch 0.00 0.36 0.06 Meadow Bay Gd 302 0.24 0.17 0.24 + 0.01 0.26 0.17 Mechel* N 878 4.75 4.42 4.47 - 0.07 6.23 4.00 Medallion Res V 809 0.18 0.12 0.18 + 0.04 0.24 0.09 Medallion Res* O 281 0.14 0.10 0.13 + 0.02 0.17 0.08 Medgold Res* O 13 0.15 0.00 0.15 unch 0.00 0.19 0.12 Medgold Res V 121 0.18 0.00 0.17 - 0.01 0.25 0.13 Medinah Mnrls* O 558 0.00 0.00 0.00 - 0.00 0.01 0.00 Mega Uranium T 1892 0.17 0.15 0.15 - 0.02 0.24 0.13 Mega Uranium* O 32 0.12 0.11 0.11 - 0.01 0.19 0.10 Megastar Dev V 74 0.08 0.07 0.08 unch 0.00 0.10 0.03

2018-03-27 5:45 PM

WWW.NORTHERNMINER.COM

APRIL 2–15, 2018 / 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

Melior Res V 267 Melkior Res V 404 Merger Mines* O 0 Meridian Mg V 132 Meryllion Res 245 Meryllion Res* O 3 MetalCorp V 167 Metalex Vent V 14 Metallic Mnrls V 298 Metallic Mnrls* O 104 Metallica Min* O 240 Metallis Res V 145 Metalore Res V 3 Metals Creek* O 100 Metals Creek V 380 Metals X* O 56 Metanor Res* O 73 Metanor Res V 205 Metron Capital V 7 Mexican Gold* O 54 Mexivada Mng* O 168 Mexus Gold* O 4117 Mezzotin Mnrls V 77 MGX Minerals 1269 MGX Minerals* O 713 Micrex Dev V 105 Midas Gold T 1398 Midas Gold* O 1238 Midland Expl V 402 Midnight Star 250 Midnight Sun V 381 Millennial Lit* O 222 Millennial Lit V 1327 Millrock Res* O 98 Millrock Res V 374 Minaurum Gold V 671 Minco Silver* O 16 Minco Silver T 87 Minecorp Egy * O 2 Minera Alamos * O 376 Minera Alamos V 889 Minera IRL 99 Mineral Mtn* O 391 Mineral Mtn V 1585 Mineral Res* O 0 MineralRite* O 3800 Mineworx Tech V 1220 Mineworx Tech* O 341 Minfocus Expl V 795 Minfocus Expl* O 42 Mining Global* O 573733 Minnova Corp V 668 Minsud Res V 120 Miramont Res* O 43 Miramont Res 1019 Miranda Gold V 650 Mirasol Res V 85 Mistango River 23 MK2 Ventures V 0 MK2 Ventures * O 0 Mkango Res V 74 ML Gold* O 6 ML Gold Corp V 915 Monarca Mnrls* O 161 Monarca Mnrls V 335 Monarques Res V 305 Monarques Res* O 58 Moneta Porcpn* O 79 Moneta Porcpn T 557 Monitor Vent* O 0 Monitor Vent V 72 Monster Uran* O 3 Montan Mg* O 50 Montan Mg V 1007 Montego Res 89 Montero Mg&Ex * O 1 Montero Mg&Ex V 91 Monument Mng V 492 Morien Res* O 60 Morien Res V 106 Morumbi Res* O 94 Morumbi Res T 302 Mosaic* N 18792 Mountain Boy V 211 Mountain Boy* O 335 Mountain Lake 1647 Mountain Prov T 193 Mountain Prov* D 139 Mukuba Res * O 2 Mundoro Cap V 1741 Mundoro Cap* O 186 Murchison Min V 17 Murchison Min 67 Mustang Mnrls V 281 Mustang Mnrls* O 24 MX Gold* O 1661

0.11 0.00 0.11 - 0.02 0.15 0.03 0.04 0.04 0.04 unch 0.00 0.10 0.04 0.00 0.00 25.00 unch 0.00 0.31 0.26 0.27 unch 0.00 1.39 0.19 0.03 0.03 0.03 unch 0.00 0.21 0.02 0.02 0.02 0.02 unch 0.00 0.07 0.00 0.03 0.02 0.02 unch 0.00 0.06 0.02 0.05 0.05 0.05 + 0.01 0.10 0.04 0.36 0.31 0.34 - 0.03 0.50 0.22 0.28 0.24 0.26 - 0.02 0.40 0.19 0.04 0.03 0.04 + 0.01 0.06 0.03 1.23 1.11 1.18 unch 0.00 2.75 0.14 2.24 2.00 2.00 - 0.15 4.45 2.00 0.05 0.04 0.05 + 0.01 0.08 0.03 0.07 0.06 0.06 + 0.01 0.10 0.05 0.66 0.59 0.59 - 0.07 0.96 0.51 0.45 0.40 0.45 unch 0.00 0.94 0.40 0.59 0.53 0.56 + 0.01 1.29 0.53 0.06 0.00 0.06 + 0.01 0.06 0.05 0.24 0.22 0.22 - 0.01 0.32 0.18 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.05 0.02 0.03 + 0.01 0.13 0.02 0.02 0.01 0.01 unch 0.00 0.04 0.01 1.20 1.10 1.15 unch 0.00 1.96 0.73 0.92 0.86 0.89 + 0.01 1.58 0.54 0.02 0.01 0.01 unch 0.00 0.03 0.01 1.02 0.97 1.00 + 0.07 1.08 0.55 0.79 0.74 0.77 + 0.05 0.89 0.42 0.98 0.86 0.86 - 0.15 1.15 0.82 0.18 0.17 0.17 unch 0.00 0.25 0.08 0.43 0.38 0.38 - 0.05 0.54 0.21 2.40 2.04 2.15 - 0.25 3.87 0.88 3.11 2.66 2.77 - 0.35 4.80 1.20 0.18 0.16 0.18 + 0.02 0.41 0.16 0.23 0.22 0.23 unch 0.00 0.53 0.22 0.63 0.51 0.63 + 0.08 0.67 0.21 0.53 0.46 0.51 + 0.03 1.23 0.46 0.67 0.58 0.65 + 0.06 1.74 0.58 0.07 0.07 0.07 unch 0.00 0.11 0.04 0.12 0.11 0.12 + 0.00 0.18 0.10 0.15 0.14 0.15 unch 0.00 0.24 0.12 0.08 0.00 0.08 - 0.01 0.17 0.06 0.55 0.38 0.49 + 0.14 0.55 0.13 0.74 0.47 0.64 + 0.16 0.74 0.15 13.87 0.00 13.87 + 0.12 16.78 7.00 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.25 0.21 0.23 + 0.01 0.40 0.05 0.20 0.16 0.18 + 0.01 0.33 0.05 0.02 0.02 0.02 unch 0.00 0.06 0.01 0.01 0.01 0.01 unch 0.00 0.01 0.01 0.00 0.00 0.00 - 0.00 0.00 0.00 0.75 0.70 0.75 + 0.10 0.90 0.55 0.10 0.10 0.10 unch 0.00 0.16 0.06 0.24 0.23 0.24 + 0.01 0.28 0.23 0.31 0.29 0.30 unch 0.00 0.65 0.20 0.06 0.05 0.05 unch 0.00 0.11 0.05 2.11 1.96 2.05 + 0.02 2.60 1.42 0.03 0.03 0.03 unch 0.00 0.07 0.01 0.00 0.00 0.17 unch 0.00 0.23 0.09 0.00 0.00 0.12 unch 0.00 0.17 0.08 0.16 0.14 0.14 - 0.03 0.24 0.04 0.14 0.14 0.14 unch 0.00 0.26 0.08 0.18 0.14 0.16 unch 0.00 0.32 0.10 0.04 0.03 0.04 + 0.01 0.14 0.03 0.06 0.05 0.05 + 0.01 0.20 0.05 0.39 0.35 0.35 - 0.02 0.47 0.25 0.30 0.27 0.28 - 0.00 0.38 0.19 0.12 0.11 0.11 + 0.00 0.17 0.10 0.15 0.14 0.15 - 0.01 0.23 0.13 0.00 0.00 0.20 unch 0.00 0.81 0.13 0.26 0.00 0.24 - 0.02 1.13 0.25 0.05 0.05 0.05 unch 0.00 0.06 0.02 0.01 0.01 0.01 + 0.00 0.05 0.01 0.03 0.02 0.03 + 0.01 0.08 0.01 0.29 0.25 0.25 - 0.01 0.55 0.14 0.23 0.23 0.23 unch 0.00 0.38 0.14 0.29 0.24 0.26 - 0.03 0.49 0.12 0.07 0.07 0.07 + 0.01 0.10 0.06 0.49 0.44 0.45 - 0.01 0.60 0.37 0.62 0.58 0.59 - 0.01 0.77 0.47 0.84 0.70 0.70 - 0.15 0.96 0.45 1.13 0.91 0.91 - 0.20 1.23 0.55 25.91 24.23 24.26 - 1.84 29.80 19.23 0.06 0.05 0.06 + 0.01 0.11 0.05 0.05 0.04 0.04 - 0.00 0.09 0.03 0.06 0.05 0.06 + 0.01 0.09 0.02 3.37 3.21 3.32 + 0.02 5.20 3.13 2.65 2.45 2.58 - 0.02 4.10 2.40 0.17 0.17 0.17 unch 0.00 0.17 0.17 0.11 0.09 0.10 + 0.01 0.30 0.09 0.08 0.07 0.08 - 0.00 0.22 0.07 0.22 0.17 0.17 - 0.05 0.22 0.22 0.22 0.18 0.22 - 0.01 0.25 0.13 0.24 0.22 0.23 - 0.02 0.52 0.10 0.18 0.18 0.18 - 0.01 0.37 0.07 0.06 0.01 0.03 - 0.03 0.17 0.01

NA Frac Sand* O 95 NACCO Ind* N 117 Namibia Rare E V 474 181 Namibia Rare E* O Napier Vent V 58 Napier Vent* O 64 Natural Res Pt* N 91 Nautilus Mnrls T 686 O 358 Nautilus Mnrls* Navis Res Corp 10 Navy Res V 50 Nemaska Lith T 5687 Nemaska Lith* O 540 Neo Lithium V 124 Neometals* O 231 Network Expl* O 170 Network Expl V 417 Nevada Clean M V 969 59 Nevada Clean M* O Nevada Copper T 92 Nevada Energy* O 14 Nevada Energy V 21 Nevada Expl * O 187 Nevada Expl V 363 Nevada Sunrise* O 92 Nevada Sunrise V 224 Nevada Zinc V 803 Nevado Res V 178 Nevsun Res* X 3144 Nevsun Res T 3125 New Age Metals V 1614 New Carolin Gd* O 29 New Carolin Gd V 357 109 New Destiny Mg V New Gold* X 23487 New Gold T 4186 New Guinea Gld* O 239 New Jersey Mng* O 84 31 New Milln Iron* O New Milln Iron T 269 New Nadina V 330 New Nadina* O 135 New Oroperu V 34 New Pac Metals V 516 New Pac Metals* O 43 New Point Expl 28 New Stratus V 198 New Tech Lith* O 73 New Tech Lith 1046 New World Res V 89 Newlox Gold 206 Newmac Res V 2 Newmont Mng* N 25541 Newport Expl V 5 Newport Gold* O 20 NewRange Gold* O 300 NewRange Gold V 417 Nexa Resources T 2 Nexa Resources* N 1471 Nexco Res 25 Nexgen Energy T 4263 Nexgen Energy* X 1153 NextSource Mat T 3053 Nexus Gold V 1237 Nexus Gold* O 337 NGEx Res* O 27 NGEx Res T 114 Nickel Creek T 328 Nickel Creek* O 129 Nickel North V 10

0.01 0.01 0.01 - 0.00 0.09 0.01 42.50 37.90 38.00 - 1.50 48.85 14.45 0.22 0.18 0.19 + 0.01 0.24 0.04 0.17 0.15 0.15 - 0.00 0.18 0.03 0.47 0.42 0.44 + 0.02 0.54 0.33 0.34 0.34 0.34 unch 0.00 0.44 0.32 29.65 28.20 28.60 + 0.15 38.43 22.81 0.24 0.21 0.22 - 0.01 0.39 0.14 0.19 0.17 0.18 + 0.00 0.31 0.11 0.37 0.00 0.37 unch 0.00 2.50 0.33 0.25 0.25 0.25 unch 0.00 0.32 0.16 1.48 1.30 1.30 - 0.09 2.44 0.95 1.15 1.01 1.01 - 0.05 1.96 0.70 1.91 1.82 1.82 - 0.07 2.75 0.85 0.30 0.26 0.26 - 0.04 0.80 0.20 0.35 0.31 0.34 + 0.04 0.39 0.30 0.44 0.39 0.44 + 0.04 0.48 0.37 0.03 0.03 0.03 - 0.01 0.08 0.03 0.02 0.00 0.02 - 0.00 0.08 0.02 0.72 0.66 0.67 + 0.01 0.84 0.41 0.19 0.17 0.17 - 0.00 1.00 0.07 0.24 0.00 0.24 + 0.03 1.30 0.20 0.24 0.19 0.24 + 0.03 0.35 0.19 0.30 0.25 0.28 + 0.01 0.46 0.25 0.14 0.10 0.13 - 0.00 0.28 0.09 0.18 0.14 0.16 - 0.01 0.36 0.12 0.20 0.18 0.18 - 0.01 0.40 0.18 0.04 0.04 0.04 - 0.01 0.06 0.02 2.42 2.25 2.25 - 0.11 2.77 1.96 3.12 2.90 2.90 - 0.16 3.54 2.49 0.12 0.11 0.11 - 0.01 0.19 0.05 0.34 0.32 0.33 - 0.01 0.58 0.18 0.45 0.37 0.42 - 0.02 0.77 0.20 0.27 0.22 0.22 - 0.07 0.35 0.11 2.60 2.28 2.55 + 0.25 4.25 2.28 3.35 2.98 3.29 + 0.25 5.16 2.98 0.00 0.00 0.00 - 0.00 0.00 0.00 0.17 0.16 0.17 unch 0.00 0.19 0.10 0.07 0.06 0.06 - 0.01 0.16 0.06 0.10 0.09 0.09 unch 0.00 0.22 0.08 0.21 0.16 0.16 - 0.03 4.60 0.08 0.14 0.13 0.14 - 0.01 3.60 0.06 0.39 0.36 0.36 - 0.03 0.65 0.33 1.65 1.59 1.63 + 0.04 1.65 1.00 1.28 1.22 1.26 + 0.06 1.28 0.78 0.31 0.28 0.28 - 0.03 0.35 0.11 0.19 0.15 0.15 unch 0.00 0.48 0.08 0.06 0.04 0.04 - 0.02 0.19 0.04 0.08 0.06 0.06 - 0.02 0.17 0.06 0.26 0.25 0.25 - 0.01 0.29 0.10 0.05 0.04 0.04 - 0.01 0.08 0.03 0.07 0.00 0.07 - 0.01 0.09 0.05 39.17 37.11 38.76 + 1.37 42.04 31.42 0.25 0.25 0.25 - 0.01 0.30 0.19 0.08 0.02 0.08 + 0.03 0.08 0.00 0.29 0.17 0.21 + 0.01 0.59 0.05 0.30 0.24 0.26 + 0.02 0.75 0.23 25.16 23.35 23.43 - 2.20 26.70 19.80 19.77 17.52 17.60 - 2.25 21.61 15.27 0.25 0.25 0.25 unch 0.00 0.50 0.15 2.69 2.50 2.50 - 0.18 3.58 2.40 2.08 1.94 1.95 - 0.13 3.20 1.82 0.14 0.11 0.12 unch 0.00 0.22 0.06 0.04 0.04 0.04 + 0.01 0.26 0.04 0.04 0.03 0.03 + 0.00 0.20 0.03 0.96 0.90 0.94 - 0.01 1.10 0.58 1.25 1.16 1.19 - 0.05 1.49 0.75 0.32 0.28 0.29 - 0.01 0.41 0.22 0.25 0.21 0.23 - 0.00 0.33 0.16 0.04 0.04 0.04 unch 0.00 0.05 0.02

N-O

20-23_APRIL2_StockTables.indd 22

(100s) Stock

Week

(100s) Stock

12-month

Exc Volume High Low Last Change High Low

Nickel One Res* O 30 390 Nickel One Res V Nicola Mg Inc V 1298 31 Nicola Mg Inc* O Nighthawk Gold* O 206 Nighthawk Gold T 830 Niobay Metals V 266 Niocan Inc V 60 Niocorp Dev T 251 Niocorp Dev* O 514 Nippon Dragon V 391 O 80 Nippon Dragon* Nitinat Mnls* O 7 Nitinat Mnls V 1225 NKWE Platinum* O 93 148 Noble Metal Gr V Noble Mnl Expl* O 210 Noble Mnl Expl V 1161 Noka Res* O 361 Noram Vent V 83 Noram Vent* O 8 Noranda Alum* O 101 Noront Res V 1296 Norsemont Cap 15 Nortec Mnls* O 150 Nortec Mnls V 163 North Am Nickl V 118 19 North Am Nickl* O North Am Pall T 18 North Am Pall* O 6 North Am Ptash* O 36 North Arrow Mn* O 10 North Arrow Mn V 210 Northcliff Res T 301 Northisle C&G V 288 Northland Res* O 2 Northn Empire* O 112 Northn Empire V 405 Norvista Cap V 47 O 23 Nouveau Monde* V 903 Nouveau Monde NovaGold Res T 1197 NovaGold Res* X 11716 Novo Res* O 679 Novo Res V 1557 NovX21* O 383 NQ Minerals Pl* O 60 NRG Metals* O 1683 NRG Metals V 2143 Nrthn Graphite* O 362 V 314 Nrthn Graphite Nrthn Lion V 40 Nrthn Mnrls &E* O 57 Nrthn Shield V 484 Nrthn Superior V 1179 Nrthn Superior* O 13 Nrthn Vertex* O 27 Nrthn Vertex V 154 NSGold V 5 355 NSS Res Inc Nthn Dynasty T 973 Nthn Dynasty* X 5776 Nthrn Sphere 646 Nthrn Sphere* O 102 Nubian Res V 77 NuLegacy Gold* O 959 NuLegacy Gold V 1044 V 9 Nunavik Nickel Nutrien T 4679 Nutrien* N 7558 NV Gold* O 291 NV Gold V 1478 NX Uranium* O 48 NxGold Ltd* O 1 NxGold Ltd V 55 O.T. Mining* O 9 OceanaGold* O 8 OceanaGold T 8377 Oceanic Iron O V 243 Oceanus Res* O 70 Oceanus Res V 252 Odyssey Res V 38 OK2 Minerals V 563 Olivut Res V 18 Olivut Res* O 43 Omineca Mg &Ml V 10 One World Lith 808 Opawica Expl V 65 Opus One Res V 16 Orbite Tech* O 122 Orca Gold V 173 Orca Gold* O 99 Orefinders Res V 640 Orestone Mng V 13 Orex Mnrls* O 115 Orex Mnrls V 399 Orezone Gold V 307 Orezone Gold* O 155 Orford Mining V 361 Organic Potash 353 Orla Mng Ltd* O 17 Orla Mng Ltd V 334 Oro East Mg* O 28 Oroco Res V 644 Oroco Res* O 322 Orocobre T 329 Oronova Energy V 252 Oroplata Res* O 371 Orosur Mng T 220 Orsu Metals V 141 Orsu Metals* O 29 Orvana Mnrls T 568 Orvana Mnrls* O 74 Osisko Gold T 3158 Osisko Gold* N 4668 Osisko Metals V 1320 Osisko Metals* O 34 Osisko Mng Inc T 1984 Osprey Gold V 764 Otis Gold V 575 Otis Gold* O 209 OZ Minerals* O 2

0.05 0.05 0.05 unch 0.00 0.11 0.03 0.06 0.00 0.06 - 0.01 0.13 0.02 0.18 0.17 0.17 - 0.01 0.25 0.14 0.14 0.12 0.14 + 0.01 0.18 0.11 0.51 0.45 0.49 + 0.04 0.97 0.45 0.65 0.59 0.62 - 0.01 1.15 0.57 0.34 0.30 0.34 + 0.02 0.78 0.11 0.07 0.07 0.07 unch 0.00 0.18 0.06 0.68 0.62 0.62 - 0.06 0.87 0.37 0.53 0.49 0.49 - 0.03 0.65 0.29 0.05 0.04 0.04 - 0.01 0.08 0.04 0.04 0.03 0.03 unch 0.00 0.06 0.03 0.36 0.36 0.36 unch 0.00 0.36 0.03 0.45 0.39 0.40 + 0.02 0.51 0.04 0.06 0.05 0.05 + 0.02 2.04 0.00 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.11 0.10 0.10 - 0.01 0.15 0.03 0.15 0.14 0.14 + 0.01 0.19 0.04 0.24 0.21 0.24 + 0.03 0.30 0.05 0.40 0.28 0.30 - 0.17 0.80 0.25 0.27 0.27 0.27 unch 0.00 0.64 0.17 0.05 0.00 0.04 - 0.00 0.17 0.01 0.40 0.36 0.38 + 0.02 0.52 0.22 0.40 0.40 0.40 unch 0.00 0.47 0.31 0.08 0.08 0.08 unch 0.00 0.14 0.05 0.11 0.10 0.10 - 0.01 0.18 0.06 0.09 0.08 0.08 unch 0.00 0.10 0.06 0.06 0.06 0.06 + 0.00 0.08 0.04 10.70 9.85 10.09 - 0.57 11.60 4.65 8.18 0.00 7.85 - 0.24 9.31 3.57 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.20 0.17 0.19 + 0.01 0.23 0.15 0.26 0.23 0.23 - 0.01 0.40 0.18 0.10 0.09 0.10 unch 0.00 0.22 0.09 0.17 0.15 0.16 unch 0.00 0.21 0.09 0.00 0.00 0.00 unch 0.00 2.00 0.00 1.09 0.94 1.02 + 0.09 1.14 0.47 1.38 1.23 1.31 + 0.07 1.44 0.58 0.12 0.12 0.12 unch 0.00 0.16 0.08 0.27 0.23 0.23 - 0.03 0.42 0.19 0.36 0.31 0.31 - 0.04 0.54 0.26 5.99 5.10 5.96 + 0.60 7.02 4.33 4.64 3.93 4.61 + 0.53 5.24 3.35 4.53 3.96 4.18 + 0.13 7.08 0.49 5.84 5.21 5.26 - 0.18 8.83 0.66 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.20 0.20 0.20 unch 0.00 0.20 0.20 0.28 0.23 0.24 - 0.01 0.49 0.07 0.36 0.31 0.32 + 0.01 0.62 0.09 0.35 0.29 0.30 - 0.04 0.55 0.19 0.43 0.38 0.38 - 0.06 0.70 0.24 0.48 0.48 0.48 unch 0.00 0.67 0.31 0.07 0.05 0.05 - 0.00 0.07 0.01 0.03 0.02 0.03 + 0.01 0.09 0.02 0.05 0.04 0.05 + 0.01 0.08 0.03 0.04 0.04 0.04 unch 0.00 4.63 0.02 0.43 0.38 0.41 - 0.00 0.58 0.34 0.54 0.50 0.53 + 0.01 0.70 0.43 0.10 0.10 0.10 unch 0.00 0.15 0.02 0.15 0.10 0.10 - 0.03 1.39 0.05 1.24 1.08 1.19 + 0.07 3.30 1.00 0.97 0.83 0.91 + 0.03 2.42 0.81 0.09 0.07 0.08 unch 0.00 0.55 0.07 0.06 0.06 0.06 unch 0.00 0.32 0.05 0.27 0.24 0.27 unch 0.00 0.38 0.17 0.17 0.12 0.15 + 0.02 0.23 0.12 0.21 0.16 0.20 + 0.04 0.30 0.15 0.11 0.11 0.11 - 0.02 0.17 0.08 64.53 60.43 60.50 - 4.43 70.05 55.27 49.42 46.96 46.99 - 2.58 56.18 40.41 0.67 0.53 0.58 + 0.04 0.67 0.13 0.87 0.69 0.75 + 0.01 0.87 0.17 0.02 0.01 0.02 unch 0.00 0.04 0.01 0.19 0.19 0.19 unch 0.00 0.26 0.17 0.25 0.25 0.25 + 0.01 0.61 0.18 0.10 0.00 0.10 unch 0.00 0.20 0.03 2.74 0.00 2.74 + 0.22 3.60 2.23 3.72 3.40 3.70 + 0.27 5.00 2.92 0.11 0.10 0.11 unch 0.00 0.26 0.06 0.20 0.18 0.20 unch 0.00 0.29 0.13 0.27 0.23 0.23 - 0.05 0.36 0.17 0.05 0.05 0.05 - 0.01 0.08 0.04 0.05 0.04 0.05 + 0.01 0.14 0.04 0.13 0.11 0.13 + 0.02 0.20 0.08 0.10 0.08 0.10 + 0.00 0.15 0.06 0.03 0.03 0.03 unch 0.00 0.07 0.03 0.16 0.13 0.16 + 0.03 0.16 0.10 0.14 0.12 0.12 - 0.01 0.55 0.10 0.06 0.06 0.06 - 0.02 0.14 0.06 0.02 0.00 0.00 - 0.02 0.18 0.00 0.59 0.52 0.59 + 0.03 0.78 0.35 0.47 0.40 0.46 + 0.03 0.63 0.27 0.13 0.10 0.13 + 0.01 0.17 0.05 0.08 0.08 0.08 unch 0.00 0.13 0.05 0.12 0.09 0.11 - 0.00 0.16 0.08 0.15 0.12 0.15 + 0.01 0.21 0.10 0.88 0.81 0.88 + 0.06 1.02 0.51 0.69 0.61 0.68 + 0.05 0.82 0.38 0.34 0.32 0.32 unch 0.00 0.70 0.23 0.03 0.00 0.02 unch 0.00 0.05 0.01 1.04 1.04 1.04 - 0.04 1.48 0.88 1.38 1.30 1.35 + 0.08 1.85 1.04 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.12 0.11 0.12 + 0.01 0.15 0.02 0.10 0.08 0.09 + 0.01 0.11 0.02 6.06 5.75 5.75 - 0.35 7.36 2.73 0.15 0.11 0.11 - 0.04 0.45 0.10 0.09 0.06 0.07 - 0.02 0.34 0.06 0.13 0.12 0.13 - 0.01 0.32 0.12 0.24 0.18 0.18 + 0.03 0.30 0.13 0.17 0.00 0.13 + 0.00 0.22 0.11 0.23 0.21 0.22 + 0.01 0.33 0.17 0.18 0.16 0.18 + 0.01 0.25 0.14 12.65 12.29 12.40 - 0.05 17.58 12.00 9.86 9.38 9.63 + 0.15 14.39 9.38 0.62 0.51 0.57 - 0.04 1.74 0.27 0.47 0.40 0.45 - 0.03 1.33 0.40 2.75 2.39 2.41 - 0.14 5.65 2.50 0.10 0.09 0.09 + 0.01 0.44 0.07 0.30 0.27 0.27 - 0.02 0.39 0.17 0.23 0.21 0.21 - 0.01 0.29 0.13 7.40 7.04 7.08 - 0.32 7.80 4.70

Pac Bay Mnrls* O 25 Pac Bay Mnrls V 25 Pac Booker Min* O 11 Pac Booker Min V 10 Pac Imperial V 237 Pac Iron Ore V 15 Pac Link Mng V 15 Pac Potash V 79 Pac Ridge Expl* O 25 Pac Ridge Expl V 81 Pac Topaz V 150 Pacific Empire V 197 Pacific Rim 662 Pacific Rim* O 114 Pacton Gold V 1300 Paget Mrnls V 6 Paladin Energy* O 8 Palamina Corp V 152 Palamina Corp* O 46 Palladon Vent* O 68 Pan Am Silver T 870 Pan Am Silver* D 6566 Pan Andean Min* O 0 Pan Andean Min V 200 Pan Global Res V 226 Pancontinental V 699 Pancontinental* O 110 Pangolin Dia V 256 Panoro Mnrls V 229 PanTerra Gold* O 1 Pantheon Vent V 116 Para Resources V 80 Parallel Mng V 174 Paramount Gold* X 293 Paringa Res* O 189 Parlane Res V 795 Pasinex Res 80 Patriot Gold 0 Patriot Gold* O 93 Peabody Enrgy* N 5538 Pedro Res V 416 Pelangio Expl* O 20 Pelangio Expl V 109 Pele Mtn Res* O 24

0.02 0.02 0.02 unch 0.00 0.04 0.02 0.04 0.04 0.04 unch 0.00 0.06 0.03 0.84 0.83 0.84 + 0.02 1.10 0.35 1.20 1.10 1.10 unch 0.00 1.44 0.42 0.06 0.00 0.06 - 0.01 0.07 0.01 0.13 0.13 0.13 unch 0.00 0.23 0.11 0.07 0.07 0.07 unch 0.00 0.07 0.02 0.05 0.03 0.05 + 0.02 0.06 0.03 0.04 0.04 0.04 + 0.01 0.06 0.03 0.06 0.06 0.06 - 0.01 0.10 0.05 0.13 0.13 0.13 unch 0.00 0.21 0.10 0.18 0.15 0.15 unch 0.00 0.18 0.15 0.62 0.52 0.56 + 0.06 1.59 0.33 0.50 0.41 0.44 + 0.05 1.25 0.38 0.31 0.27 0.29 + 0.01 0.40 0.06 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.50 0.00 0.50 + 0.35 0.50 0.00 0.29 0.26 0.29 + 0.03 0.38 0.15 0.22 0.20 0.21 - 0.01 0.27 0.12 0.00 0.00 0.00 unch 0.00 0.00 0.00 21.06 19.52 20.82 + 0.72 25.76 18.00 16.38 14.91 16.19 + 0.85 19.56 13.99 0.00 0.00 0.04 unch 0.00 0.06 0.02 0.06 0.00 0.06 unch 0.00 0.10 0.03 0.22 0.19 0.21 + 0.01 0.30 0.07 0.08 0.05 0.08 + 0.02 0.10 0.02 0.07 0.05 0.06 + 0.01 0.07 0.01 0.07 0.00 0.05 - 0.02 0.09 0.04 0.34 0.31 0.31 - 0.03 0.48 0.15 0.02 0.02 0.02 unch 0.00 0.02 0.01 0.10 0.09 0.09 - 0.02 0.17 0.08 0.20 0.19 0.19 unch 0.00 0.25 0.13 0.06 0.05 0.05 - 0.01 0.13 0.04 1.41 1.29 1.39 + 0.06 1.83 1.16 0.32 0.00 0.31 + 0.04 0.50 0.26 0.30 0.15 0.23 - 0.03 0.30 0.10 0.21 0.20 0.21 - 0.01 0.33 0.17 0.00 0.00 0.10 unch 0.00 0.15 0.09 0.10 0.07 0.08 - 0.00 0.12 0.05 40.53 37.83 37.89 - 2.25 41.98 22.58 0.24 0.19 0.22 - 0.04 0.80 0.13 0.03 0.03 0.03 + 0.00 0.05 0.02 0.05 0.05 0.05 - 0.01 0.06 0.04 0.05 0.04 0.05 - 0.00 0.40 0.01

P-Q

Week

12-month

Exc Volume High Low Last Change High Low

Pele Mtn Res V 89 Peloton Mnrls* O 0 Peloton Mnrls 138 PepinNini Lith* O 5 Peregrine Diam T 453 Perseus Mng T 602 Pershing Gold T 8 Pershing Gold* D 267 Pershing Res* O 64 O 3 Petra Diamonds* Philex Mng* O 6 Philippine Mtl* O 0 Philippine Mtl V 96 Phoenix Metals* O 0 T 1756 Pine Cliff En Pine Cliff En* O 123 Pinecrest Res V 109 Pinecrest Res * O 3 Pistol Bay Mng* O 213 Pistol Bay Mng V 411 PJSC Polyus Gd* O 2 PJX Res V 121 Plata Latina V 52 Plate Res V 178 Plateau Energy V 212 O 12 Plateau Energy* Platinex Inc 1207 Platinum Gp Mt* X 1491 117 Platinum Gp Mt T Plato Gold V 1346 Playfair Mng V 265 Playfair Mng* O 104 PolyMet Mng* X 1267 PolyMet Mng T 70 Portage Res* O 279 Portex Mnrls* O 4 Portofino Res V 1628 Potash Ridge* O 106 Potash Ridge T 1245 Power Metals* O 94 Power Metals V 1367 PPX Mining* O 1 PPX Mining V 1153 Precipitate Gl V 181 Premier Gold M T 1444 Premium Expl* O 1 Pretium Res* N 8734 Pretium Res T 2137 Primary Cobalt 15 Primero Mng T 1489 Primero Mng* O 754 Prism Res V 125 Prize Mng* O 61 Prize Mng V 313 ProAm Expl V 400 Probe Metals* O 52 Probe Metals V 33 Promithian Gl * O 0 T 61 Prophecy Coal Prophecy Coal* O 18 Prospect Glob* O 15 Prospector Res* O 92 Prospector Res V 3102 Prosper Gold V 306 Prospero Silvr V 16 Prospero Silvr* O 45 Provenance Gld 41 Providence V 11 O 15 Providence Gld* PUF Vent Inc * O 177 PUF Vent Inc 1543 Puma Expl* O 8 Puma Expl V 542 Pure Energy* O 605 Pure Energy V 413 357 Pure Gold Mg* O 580 Pure Gold Mg V Pure Nickel V 295 Pure Nickel* O 452 Purepoint Uran V 216 Q-Gold Res* O 0 Q-Gold Res V 8 QMC Quantum Ml* O 0.07 QMC Quantum Ml V 1293 QMX Gold* O 15 QMX Gold V 1769 Quadro Res V 25 Quantum Cobalt 437 Quartz Mtn Res V 0 Quaterra Res V 279 Quaterra Res* O 1428 Quest Rare Mnl* O 323 Quinto Res V 996

0.06 0.05 0.06 + 0.01 0.30 0.05 0.00 0.00 0.09 unch 0.00 0.09 0.04 0.11 0.10 0.11 unch 0.00 0.11 0.05 0.02 0.02 0.02 unch 0.00 0.07 0.02 0.16 0.15 0.16 + 0.01 0.23 0.11 0.46 0.42 0.46 + 0.04 0.47 0.27 2.69 2.32 2.69 + 0.13 4.15 2.32 2.09 1.97 2.08 + 0.08 3.31 1.91 0.03 0.03 0.03 unch 0.00 0.09 0.01 0.94 0.94 0.94 unch 0.00 1.67 0.85 0.10 0.10 0.10 unch 0.00 0.19 0.10 0.00 0.00 0.00 unch 0.00 0.11 0.00 0.09 0.08 0.08 - 0.01 0.16 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.32 0.27 0.29 + 0.02 0.86 0.27 0.22 0.21 0.22 + 0.01 0.64 0.21 0.25 0.20 0.20 - 0.05 0.56 0.20 0.17 0.17 0.17 unch 0.00 1.36 0.17 0.05 0.04 0.05 - 0.01 0.08 0.03 0.06 0.05 0.06 + 0.01 0.12 0.04 44.99 0.00 44.99 + 2.74 50.23 31.83 0.20 0.17 0.20 + 0.01 0.23 0.11 0.04 0.04 0.04 unch 0.00 0.05 0.03 0.10 0.07 0.10 + 0.04 0.10 0.04 0.78 0.67 0.75 + 0.07 0.96 0.26 0.60 0.52 0.59 + 0.08 0.78 0.21 0.18 0.15 0.17 - 0.01 0.30 0.05 0.34 0.31 0.32 - 0.00 1.72 0.28 0.44 0.40 0.42 unch 0.00 2.30 0.36 0.05 0.04 0.05 unch 0.00 0.06 0.01 0.06 0.00 0.05 - 0.01 0.10 0.05 0.03 0.03 0.03 + 0.00 0.08 0.03 1.13 1.04 1.06 - 0.06 1.36 0.57 1.45 1.34 1.34 - 0.08 1.66 0.71 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.09 0.07 0.07 - 0.01 0.19 0.04 0.07 0.05 0.06 - 0.00 0.22 0.05 0.08 0.08 0.08 unch 0.00 0.31 0.08 0.54 0.46 0.49 - 0.00 0.70 0.20 0.68 0.60 0.62 - 0.03 0.88 0.25 0.05 0.05 0.05 unch 0.00 0.08 0.04 0.08 0.08 0.08 unch 0.00 0.10 0.05 0.09 0.08 0.08 + 0.01 0.19 0.06 3.30 3.02 3.26 + 0.25 4.13 2.50 0.00 0.00 0.00 unch 0.00 0.01 0.00 7.33 6.82 7.04 + 0.05 12.44 6.17 9.43 8.93 9.07 + 0.06 15.52 7.93 0.15 0.15 0.15 unch 0.00 0.15 0.15 0.27 0.24 0.26 + 0.01 0.84 0.08 0.21 0.18 0.20 + 0.01 0.70 0.06 0.08 0.08 0.08 - 0.02 0.21 0.08 0.19 0.17 0.18 - 0.01 0.52 0.17 0.25 0.22 0.23 - 0.03 0.72 0.22 0.04 0.03 0.04 unch 0.00 0.06 0.02 1.07 1.01 1.01 - 0.06 1.42 0.95 1.37 1.30 1.33 + 0.01 1.74 1.25 0.00 0.00 0.10 unch 0.00 0.10 0.02 2.72 2.50 2.70 - 0.03 5.00 2.50 2.10 1.95 2.10 unch 0.00 4.00 1.95 0.12 0.07 0.12 unch 0.00 0.14 0.03 0.50 0.38 0.38 - 0.13 0.84 0.38 0.65 0.49 0.55 - 0.07 1.90 0.49 0.12 0.10 0.11 - 0.01 0.24 0.08 0.13 0.12 0.12 + 0.01 0.34 0.11 0.08 0.08 0.08 unch 0.00 0.25 0.08 0.25 0.23 0.25 + 0.03 0.40 0.08 0.16 0.00 0.16 unch 0.00 0.27 0.09 0.11 0.11 0.11 unch 0.00 0.13 0.10 0.84 0.71 0.75 - 0.02 1.85 0.21 1.03 0.90 0.95 - 0.08 2.09 0.28 0.07 0.07 0.07 - 0.01 0.09 0.04 0.09 0.08 0.08 - 0.01 0.13 0.05 0.26 0.24 0.24 - 0.00 0.50 0.21 0.33 0.31 0.31 unch 0.00 0.65 0.28 0.47 0.41 0.47 + 0.06 0.55 0.35 0.60 0.54 0.59 + 0.03 0.68 0.46 0.03 0.03 0.03 unch 0.00 0.05 0.01 0.03 0.02 0.02 - 0.00 0.04 0.00 0.07 0.06 0.07 unch 0.00 0.13 0.06 0.00 0.00 0.01 unch 0.00 0.06 0.06 0.12 0.00 0.11 - 0.03 0.30 0.10 1503 0.58 0.44 0.46 - 0.09 1.46

Rackla Mtls V 6 Rackla Mtls* O 1 Radisson Mng V 911 Radius Gold V 362 Rae-Wallace Mg* O 55 O 0 Rainforest Res* Rainy Mtn Royl V 741 Rambler Ml &Mg V 33 Randgold Res* D 3386 Randsburg Int* O 1 Randsburg Intl V 42 Rare Element* O 229 Rathdowney Res V 125 Ravencrest Res 1585 Razore Rock Res 112 RB Energy* O 14 45 Red Eagle Expl V Red Eagle Mng* O 83 Red Eagle Mng T 776 36 Red Moon Res V Red Oak Mg V 202 Red Pine Expl V 1493 Redhawk Res T 119 Redstar Gold V 1676 Redstar Gold* O 524 Redzone Res* O 39 Redzone Res V 80 Regency Gold V 42 Regulus Res V 104 Reliant Gold 205 Remington Res V 8 Renaissance Gd* O 35 Renaissance Gd V 22 Renforth Res 359 Resolve Vent V 113 Resource Cap V 544 Resource Cap* O 50 Reunion Gold V 303 Revelo Res V 4303 Revival Gold * O 73 Revival Gold V 124 Rhyolite Res V 43 Richmond Mnls V 50 Ridgestone M’g V 60 Rift Valley 105 Rimrock Gold* O 43294 Rio Novo Gold T 15 Rio Silver V 519 Rio Silver* O 6 Rio Tinto* O 2 Rio Tinto* N 16102 Rio Tinto* O 106 Rise Gold Corp 630 River Wild Exp 2403 Riverside Res V 338 Riverside Res* O 169 Rizal Res V 40 RJK Explor V 15 RJK Explor* O 117 Robex Res V 370 Rochester Res V 1 Rochester Res* O 0 Rock Tech Lith* O 7 Rock Tech Lith V 15 Rockcliff Met* O 4 Rockcliff Met V 126 Rockex Mng 40 Rockhaven Res V 570 Rockshield Cap 1328 Rockshield Cap* O 355 Rockwealth Res V 127 Rockwell Diam* O 0 Rodinia Lithm V 368 Rogue Res* O 0 Rogue Res V 86 Rokmaster Res V 396 Romios Gold Rs V 145 Romios Gold Rs* O 107 RosCan Mrnls V 81

0.10 0.00 0.10 unch 0.00 0.17 0.08 0.07 0.00 0.07 + 0.00 0.13 0.05 0.16 0.14 0.16 + 0.01 0.25 0.14 0.11 0.00 0.11 + 0.01 0.16 0.09 0.01 0.01 0.01 unch 0.00 0.02 0.00 0.00 0.00 9.45 unch 0.00 9.45 1.00 0.04 0.03 0.03 - 0.01 0.17 0.03 0.13 0.12 0.13 - 0.01 0.20 0.11 84.67 80.45 83.92 + 0.68 108.29 79.17 0.01 0.01 0.01 unch 0.00 0.01 0.00 0.02 0.01 0.01 - 0.01 0.02 0.01 0.22 0.19 0.22 + 0.01 0.44 0.07 0.16 0.16 0.16 + 0.02 0.30 0.12 1.55 1.27 1.37 - 0.02 2.10 0.05 0.25 0.16 0.25 + 0.05 0.90 0.09 0.00 0.00 0.00 - 0.00 0.00 0.00 0.12 0.12 0.12 + 0.01 0.21 0.06 0.23 0.19 0.21 + 0.02 0.59 0.17 0.29 0.26 0.27 + 0.01 0.79 0.23 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.14 0.12 0.14 + 0.02 0.25 0.06 0.07 0.07 0.07 unch 0.00 0.14 0.07 0.04 0.03 0.03 unch 0.00 0.10 0.02 0.05 0.05 0.05 + 0.01 0.15 0.04 0.04 0.03 0.04 + 0.00 0.12 0.03 0.24 0.23 0.23 - 0.01 0.57 0.08 0.36 0.29 0.30 - 0.07 0.75 0.10 0.22 0.00 0.21 - 0.02 0.25 0.10 2.00 1.80 1.92 + 0.02 3.00 1.46 0.03 0.03 0.03 - 0.01 0.03 0.03 0.40 0.40 0.40 unch 0.00 1.45 0.40 0.20 0.17 0.18 + 0.01 0.38 0.16 0.27 0.25 0.25 + 0.01 0.48 0.21 0.04 0.04 0.04 + 0.01 0.09 0.04 0.12 0.10 0.10 - 0.02 0.69 0.09 0.09 0.08 0.08 - 0.01 0.21 0.07 0.05 0.05 0.05 unch 0.00 0.15 0.05 0.13 0.13 0.13 + 0.01 0.18 0.10 0.06 0.03 0.05 + 0.02 0.07 0.02 0.50 0.48 0.48 - 0.01 0.70 0.48 0.65 0.62 0.62 - 0.03 0.86 0.08 0.23 0.22 0.22 - 0.01 0.40 0.17 0.05 0.05 0.05 unch 0.00 0.18 0.04 0.48 0.48 0.48 + 0.01 0.48 0.47 0.10 0.00 0.10 unch 0.00 0.15 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.13 0.13 0.13 unch 0.00 0.17 0.08 0.05 0.04 0.05 - 0.01 0.09 0.04 0.03 0.03 0.03 unch 0.00 0.07 0.03 52.28 50.90 51.85 - 0.43 58.07 37.20 53.49 50.46 50.51 - 2.07 59.25 37.66 57.62 0.00 57.62 unch 0.00 65.30 43.87 0.12 0.10 0.11 + 0.01 0.36 0.09 0.20 0.12 0.20 + 0.08 0.22 0.02 0.25 0.22 0.25 + 0.01 0.51 0.22 0.20 0.17 0.18 + 0.00 0.39 0.17 0.05 0.00 0.05 unch 0.00 0.06 0.02 0.07 0.00 0.07 unch 0.00 0.23 0.06 0.08 0.06 0.08 + 0.02 0.15 0.04 0.10 0.09 0.10 unch 0.00 0.14 0.06 0.00 0.00 0.07 unch 0.00 0.09 0.03 0.00 0.00 0.03 unch 0.00 0.06 0.02 1.05 1.00 1.01 - 0.04 1.66 0.59 1.39 1.27 1.30 - 0.07 2.16 0.76 0.03 0.03 0.03 unch 0.00 0.10 0.03 0.04 0.04 0.04 unch 0.00 0.12 0.04 0.04 0.04 0.04 unch 0.00 0.05 0.01 0.15 0.13 0.13 - 0.01 0.19 0.12 0.44 0.39 0.43 unch 0.00 0.84 0.09 0.34 0.30 0.34 + 0.01 0.67 0.06 0.23 0.20 0.23 + 0.01 0.30 0.15 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.32 0.28 0.29 - 0.03 0.46 0.09 0.00 0.00 0.24 unch 0.00 0.43 0.16 0.30 0.26 0.30 + 0.02 0.58 0.18 0.02 0.02 0.02 unch 0.00 0.07 0.02 0.08 0.08 0.08 unch 0.00 0.09 0.04 0.07 0.06 0.06 + 0.00 0.07 0.03 0.08 0.08 0.08 unch 0.00 0.12 0.05

0.75 0.57 0.60 - 0.12 1.85 0.09 0.15 0.00 0.14 unch 0.00 0.29 0.14 0.19 0.16 0.17 - 0.02 0.40 0.16 0.07 0.00 0.07 + 0.01 0.18 0.06 0.33 0.25 0.25 - 0.06 1.90 0.03 0.00 0.00 0.90 unch 0.00 1.50 0.55 0.09 0.07 0.07 - 0.02 0.14 0.05 0.07 0.05 0.06 - 0.00 0.11 0.03 0.00 0.00 0.00 unch 0.00 0.13 0.00 0.08 0.07 0.08 + 0.01 0.12 0.05

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

13 Rosita Mg Corp* O 249 Rosita Mg Corp V 455 V Ross River Rotation Mnls V 239 V 19 Roughrider Exp Roxgold* O 171 723 T Roxgold Royal Gold* D 2244 125 Royal Mines &M* O Royal Nickel T 6093 Royal Nickel* O 1037 360 Royal Rd Mnrls V V 148 Royal Sapphire 49 Royal Std Mnrl* O RT Minerals V 1876 RT Minerals* O 30 RTG Mining T 55 O 29 Rubicon Mnrls* Rubicon Mnrls T 36 Rugby Mng V 23 38 Running Fox Rs* O 9 Running Fox Rs V Rupert Res V 165 Rusoro Mng* O 1671 Rusoro Mng V 2185 660 Rye Patch Gold* O Rye Patch Gold V 2376

0.05 0.04 0.04 + 0.00 0.06 0.01 0.06 0.06 0.06 - 0.01 0.12 0.02 0.02 0.01 0.02 + 0.01 0.03 0.01 0.12 0.24 0.20 0.20 - 0.04 0.45 0.04 unch 0.00 0.12 0.04 0.04 0.04 0.78 0.87 0.83 0.87 + 0.04 1.13 0.99 1.47 0.03 + 1.13 1.13 1.09 65.88 86.04 82.31 85.13 + 1.33 94.39 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.16 0.30 0.25 0.26 + 0.01 0.38 0.12 0.23 0.19 0.21 + 0.01 0.31 0.13 0.11 0.12 unch 0.00 0.18 0.06 0.06 unch 0.00 1.40 0.20 0.20 0.20 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.03 unch 0.00 0.14 0.04 0.03 0.04 0.03 unch 0.00 0.10 0.03 0.03 0.03 0.10 0.17 0.14 0.14 - 0.04 0.55 0.90 0.97 0.93 0.95 - 0.01 1.48 1.13 1.25 1.19 1.24 - 0.01 1.99 0.24 0.43 0.43 0.43 + 0.02 0.50 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.04 0.03 0.03 unch 0.00 0.04 0.01 0.68 1.20 1.07 1.15 - 0.05 1.46 0.05 0.09 0.00 0.07 - 0.03 0.17 0.06 0.11 0.09 0.10 - 0.02 0.22 1.08 0.87 0.95 + 0.03 1.74 0.80 1.40 1.14 1.22 - 0.04 2.37 1.05

T 807 Sabina Gd&Slvr O 624 Sabina Gd&Slvr* Sable Res* O 2 Sable Res V 1307 Sage Gold* O 127 Sage Gold V 930 Sailfish Rylty V 4 Saint Jean* O 89 Saint Jean V 1289 Salazar Res* O 155 Salazar Res V 244 53 Salt Lake Pot* O Sama Res V 423 Sama Res* O 56 Samco Gold V 31 Samex Mng* O 23 37 San Gold Corp* O 35 San Marco Res* O 354 San Marco Res V V 1001 Sanatana Diam Sandfire Res V 185 Sandfire Res* O 256 O 57 Sandspring Res* V 494 Sandspring Res T 2058 Sandstorm Gold X 7028 Sandstorm Gold* 3 Sandy Lake Gld* O 106 Sandy Lake Gld V 448 Santa Fe Gold* O Santacruz Silv V 279 Sarama Res V 1061 Sarissa Res* O 2100 Satori Res V 60 Satori Res* O 51 Saturn Mnrls V 500 Savary Gold V 162 Savary Gold* O 160 Saville Res V 387 O 432 Scandium Intl* 429 Scandium Intl T Scorpio Gold V 198 ScoZinc Mg* O 39 ScoZinc Mg V 36 Seabridge Gld T 540 Seabridge Gld* N 2498 Search Mnls V 291 Searchlight* O 367 Secova Mtls* O 320 Secova Mtls V 2304 Sego Res V 1453 Select Sands V 375 T 5385 Semafo Senator Mnrls V 79 V 62 Sennen Potash O 1 Sennen Potash* Serabi Gold T 225 Serengeti Res V 929 Shamrock Ent 335 Sherritt Intl T 8242 V 8 Shoshoni Gold Sibanye Gold* N 16918 Sibanye Gold* O 4 O 190 Sidney Resrces* Sienna Res* O 15 Sienna Res V 1511 Sierra Metals* X 283 Sierra Metals T 123 O 500 Signature Res* Signature Res V 1168 235 Silver Bear Rs T 15 Silver Bear Rs* O 844 Silver Bull Re* O Silver Bull Re T 2097 Silver Dragon* O 220 Silver Grail V 202 Silver Hill* O 2 15 Silver Mtn Mns* O 572 Silver Mtn Mns V Silver Predatr* O 6 Silver Predatr V 16 Silver Pursuit V 87 Silver Range V 33 Silver Scott* O 14 Silver Spruce* O 0 Silver Spruce V 1084 Silver Viper V 534 Silver Wheaton T 4569 N 14665 Silver Wheaton* Silvercorp Met T 3056 X 3815 Silvercorp Met* O 177 SilverCrest Mt* SilverCrest Mt V 470 O 92 Silverstar Res* Sirios Res V 314 Sirios Res* O 30 Sitka Gold 205 Skeena Res* O 256 Skeena Res V 749 O 304 Skyharbour Res* V 177 Skyharbour Res Slam Explor* O 9 Slam Explor V 1612 O 54 Sojourn Explor* V 371 Sojourn Explor Sokoman Iron V 362 SolGold plc* O 226 SolGold plc T 103 Solitario Ex&R T 27 X 421 Solitario Ex&R* 180 Sonora Gld & S V 160 Sonora Res * O Sonoro Mtls V 50 Sonoro Mtls* O 3 Southern Arc* O 20 Southern Arc V 56 N 5143 Southern Copp* O 132 Southern Silvr* Southern Silvr V 144 T 8 SouthGobi Res 252 Spanish Mtn Gd* O Spanish Mtn Gd V 1835 Sparton Res* O 199 Sparton Res V 422 O 167 Spearmint Res* V 4053 Spearmint Res Sphinx Res V 491 Sprott Res Hld T 2068 176 Spruce Ridge R V 66 Squire Mg Ltd SRG Graphite V 67 SSR Mining* D 4480 SSR Mining T 1362 St Augustine T 576 10 St Elias Mns* O St-Georges Eco 3041 O 91 St-Georges Eco* O 45 Stakeholdr Gld* V 23 Stakeholdr Gld O 1726 Standard Graph* Standard Lith V 660 O 189 Standard Metal* Stans Energy V 453 Stans Energy* O 450 Star Diamond T 778 O 190 Star Diamond* Star Gold* O 23

1.44 unch 0.00 2.70 1.77 1.66 1.75 1.08 1.38 1.27 1.35 + 0.04 2.17 0.10 unch 0.00 0.17 0.17 0.17 0.17 0.11 0.29 0.24 0.24 - 0.02 0.29 0.06 0.09 0.06 0.09 + 0.03 0.20 0.09 0.12 0.09 0.11 + 0.01 0.27 1.00 1.98 1.94 1.98 + 0.23 3.07 0.02 0.04 0.02 0.02 - 0.01 0.07 0.03 unch 0.00 0.09 0.04 0.03 0.04 0.06 0.12 0.09 0.12 + 0.02 0.13 0.08 0.14 0.13 0.14 + 0.02 0.18 0.45 0.43 0.45 + 0.03 0.45 0.27 0.12 0.40 0.36 0.38 - 0.01 0.50 0.10 0.31 0.27 0.29 - 0.01 0.41 0.02 unch 0.00 0.11 0.05 0.00 0.05 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 + 0.00 0.01 0.00 0.17 0.17 0.17 + 0.00 0.23 0.10 0.24 0.23 0.23 unch 0.00 0.30 0.13 0.03 0.06 0.05 0.05 - 0.01 0.07 0.06 0.10 0.09 0.10 + 0.01 0.14 0.05 0.08 0.07 0.08 + 0.01 0.10 0.20 0.25 0.21 0.25 + 0.02 0.44 0.27 0.33 0.29 0.31 + 0.02 0.59 4.37 6.28 5.76 6.21 + 0.36 6.95 3.18 4.88 4.40 4.82 + 0.36 5.64 0.03 0.07 0.00 0.05 0.05 0.05 unch 0.08 0.07 0.07 - 0.01 0.11 0.05 0.15 0.12 0.13 + 0.01 0.20 0.07 0.09 0.15 0.12 0.15 + 0.03 0.32 0.08 0.13 0.11 0.13 + 0.03 0.24 0.00 0.00 0.00 0.00 - 0.00 0.01 0.07 0.12 0.10 0.11 - 0.01 0.30 0.07 0.08 0.07 0.08 + 0.01 0.18 0.07 0.18 0.16 0.17 + 0.01 0.18 0.04 0.06 0.05 0.06 + 0.01 0.10 0.03 0.04 0.04 0.04 - 0.00 0.07 0.06 0.07 0.06 0.07 - 0.01 0.40 0.12 0.15 0.00 0.15 + 0.00 0.35 0.20 0.18 0.19 - 0.01 0.46 0.16 0.02 unch 0.00 0.10 0.04 0.03 0.03 0.76 0.93 0.80 0.81 - 0.12 1.44 0.96 unch 0.00 1.75 1.11 1.05 1.10 12.61 14.70 13.65 14.52 + 0.70 17.65 11.40 10.45 11.35 + 0.85 13.70 9.50 0.03 0.09 0.07 0.08 - 0.01 0.10 0.01 0.02 0.02 0.02 + 0.00 0.08 0.01 0.02 0.02 0.02 - 0.00 0.07 0.02 unch 0.00 0.09 0.03 0.02 0.02 0.03 0.05 0.04 0.05 - 0.01 0.09 0.34 0.40 0.36 0.37 - 0.03 1.83 2.68 3.73 3.39 3.72 + 0.28 4.44 0.17 unch 0.00 1.99 0.22 0.00 0.21 0.30 0.45 0.00 0.45 - 0.02 1.00 0.33 unch 0.00 0.62 0.39 0.39 0.39 0.05 0.07 0.06 0.07 + 0.01 0.10 0.13 0.16 0.14 0.15 - 0.01 0.26 0.02 unch 0.00 0.08 0.05 0.04 0.04 0.74 1.34 1.17 1.20 - 0.12 1.87 0.04 unch 0.00 0.07 0.05 0.05 0.05 4.02 3.78 3.91 + 0.03 10.59 3.76 1.04 unch 0.00 2.44 1.04 1.04 1.04 0.00 unch 0.00 0.02 0.01 0.00 0.01 0.07 0.19 0.18 0.19 - 0.00 0.32 0.09 0.26 0.23 0.23 - 0.03 0.39 2.10 2.79 2.59 2.67 + 0.12 3.10 2.75 3.48 3.34 3.39 + 0.06 3.68 0.05 0.05 0.05 0.05 - 0.00 0.09 0.05 0.08 0.05 0.07 + 0.02 0.15 0.26 0.23 0.24 unch 0.00 0.43 0.12 0.19 0.17 0.19 + 0.01 0.31 0.08 0.18 0.17 0.18 + 0.01 0.23 0.06 0.24 0.21 0.23 + 0.02 0.29 0.08 0.00 0.01 0.01 0.01 - 0.00 0.03 0.05 0.08 0.06 0.07 + 0.02 0.13 0.10 unch 0.00 0.36 0.12 0.12 0.12 0.03 0.03 0.03 unch 0.00 0.03 0.01 0.03 0.02 0.02 - 0.01 0.04 0.02 0.05 0.11 0.08 0.08 - 0.04 0.22 0.11 0.11 0.11 0.11 - 0.03 0.28 0.11 0.13 0.12 0.13 + 0.01 0.23 0.12 0.16 0.14 0.14 - 0.02 0.29 0.01 0.04 0.04 0.04 + 0.00 0.24 0.03 unch 0.00 0.07 0.00 0.00 0.03 0.05 0.05 0.00 0.04 - 0.02 0.10 0.15 0.20 0.17 0.17 - 0.03 0.30 23.18 26.66 25.01 26.24 + 0.41 29.90 18.32 20.72 19.12 20.40 + 0.68 22.72 2.72 3.63 3.34 3.52 + 0.04 5.49 2.12 2.83 2.55 2.71 + 0.03 4.10 0.84 1.87 1.61 1.82 + 0.18 2.10 1.05 2.40 2.09 2.30 + 0.18 2.58 0.10 unch 0.00 3.36 0.18 0.10 0.10 0.25 0.28 0.25 0.26 - 0.01 0.49 0.20 0.20 0.20 0.20 - 0.01 0.36 0.16 0.00 0.30 unch 0.21 0.20 0.20 0.27 0.50 0.44 0.50 + 0.00 0.66 0.40 0.65 0.59 0.64 - 0.01 0.80 0.24 0.31 0.28 0.31 + 0.01 0.43 0.31 unch 0.00 0.57 0.40 0.37 0.40 0.02 0.05 0.03 0.04 + 0.01 0.05 0.03 0.06 0.04 0.05 + 0.01 0.07 0.12 0.14 0.13 0.13 - 0.00 0.21 0.11 0.18 0.15 0.16 - 0.02 0.30 0.03 0.05 0.04 0.05 + 0.01 0.10 0.28 0.34 0.30 0.31 - 0.01 0.63 0.34 unch 0.00 0.95 0.44 0.40 0.41 0.58 0.64 0.61 0.64 - 0.02 1.20 0.45 0.51 0.47 0.51 + 0.01 0.91 0.14 0.11 0.12 + 0.02 0.20 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.11 unch 0.00 0.20 0.17 0.17 0.17 0.09 unch 0.00 0.14 0.13 0.13 0.13 0.31 0.37 0.33 0.34 + 0.02 0.65 0.36 0.50 0.43 0.50 + 0.05 0.90 32.63 56.61 53.45 53.46 - 1.20 56.61 0.17 0.20 0.18 0.20 + 0.01 0.41 0.22 unch 0.00 0.54 0.26 0.24 0.25 0.12 unch 0.00 0.40 0.18 0.17 0.17 0.11 0.08 0.10 + 0.01 0.15 0.06 0.13 0.09 0.13 + 0.01 0.21 0.08 0.02 0.05 0.05 0.05 - 0.00 0.11 0.03 0.09 0.08 0.08 - 0.01 0.14 0.02 0.07 0.06 0.06 - 0.01 0.11 0.02 0.09 0.07 0.07 - 0.01 0.14 0.04 unch 0.00 0.08 0.07 0.06 0.07 0.14 0.12 0.14 + 0.01 0.21 0.12 0.04 0.03 0.04 + 0.01 0.06 0.01 0.40 0.30 0.30 - 0.10 0.45 0.05 0.32 1.69 1.58 1.61 - 0.08 2.25 9.79 8.87 9.67 + 0.69 11.40 7.64 12.58 11.61 12.45 + 0.66 15.35 9.66 0.02 0.03 0.03 0.03 - 0.01 0.05 0.00 0.00 0.00 + 0.00 0.00 0.00 0.01 0.31 0.27 0.28 - 0.02 2.90 0.15 0.23 0.20 0.21 - 0.01 2.20 0.18 0.20 0.18 0.20 + 0.02 0.45 0.23 0.25 0.24 0.25 + 0.01 0.64 0.13 0.84 0.68 0.77 + 0.07 0.86 0.71 2.15 1.64 1.88 - 0.24 2.85 0.02 0.18 0.12 0.17 + 0.00 0.22 0.03 0.04 0.04 0.04 - 0.01 0.05 0.02 0.04 0.02 0.02 - 0.01 0.04 0.15 0.22 0.20 0.21 + 0.01 0.44 0.12 0.15 0.15 0.15 + 0.00 0.33 0.05 0.07 0.05 0.07 + 0.02 0.15

2018-03-27 5:45 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / APRIL 2–15, 2018

Week

12-month

Exc Volume High Low Last Change High Low

Starcore Intl T 227 Starr Peak Exp* O 2 4 Starr Peak Exp V Steele Oceanic* O 0 Stellar Africa* O 1 Stellar Africa V 662 Stelmine Can V 41 Sterling Grp* O 24 Stina Res 21567 Stina Res* O 2927 Stockport Expl* O 2 Stornoway Diam T 785 Stornoway Diam* O 42 Stratabd Mnr V 76 Strateco Res* O 1 Strategic Metl V 174 Strategic Metl* O 184 Strategic Res* O 0 Strategic Res V 0 Stria Lithium V 216 Strikepoint Gd V 379 Strikepoint Gd* O 40 Strongbow Expl V 328 Strongbow Expl* O 22 Stroud Res V 2194 Sulliden Mng T 293 Suncor Energy T 13904 Suncor Energy* N 17850 O 53 Sunvest Mnrls* Sunvest Mnrls V 386 Superior Gold* O 158 Superior Gold V 1441 Superior Mng V 3 Superior Mng* O 1 Supreme Metals 11717 Surge Copper * O 51 Surge Copper V 128 Sutter Gold V 167 Sutter Gold* O 81 Syrah Res* O 113

0.25 0.22 0.23 - 0.01 0.57 0.22 0.09 0.09 0.09 unch 0.00 0.09 0.09 0.13 0.13 0.13 unch 0.00 0.19 0.08 0.96 0.00 0.96 unch 0.00 3.49 0.96 0.04 0.04 0.04 unch 0.00 0.05 0.03 0.05 0.04 0.04 - 0.01 0.07 0.03 0.19 0.17 0.18 + 0.01 0.45 0.16 0.04 0.03 0.04 + 0.00 0.13 0.03 0.55 0.34 0.53 + 0.19 0.53 0.10 0.43 0.27 0.40 + 0.15 0.42 0.08 0.00 0.00 0.00 unch 0.00 0.03 0.00 0.62 0.57 0.59 + 0.03 0.95 0.50 0.45 0.45 0.45 + 0.00 0.71 0.41 0.06 0.00 0.06 unch 0.00 0.08 0.01 0.01 0.01 0.01 unch 0.00 0.05 0.00 0.46 0.42 0.43 + 0.01 0.73 0.40 0.36 0.31 0.34 + 0.03 0.54 0.31 0.00 0.00 0.14 unch 0.00 0.14 0.09 0.00 0.00 0.18 unch 0.00 0.25 0.10 0.05 0.04 0.05 - 0.01 0.08 0.03 0.27 0.21 0.24 + 0.01 0.67 0.15 0.18 0.00 0.18 - 0.01 0.47 0.11 0.20 0.16 0.20 + 0.03 0.27 0.13 0.14 0.13 0.14 + 0.01 0.18 0.10 0.02 0.02 0.02 + 0.01 0.03 0.01 0.41 0.39 0.39 - 0.02 0.65 0.18 43.95 42.00 42.90 - 0.01 47.69 36.09 34.06 32.15 33.26 + 0.54 38.39 27.96 0.07 0.06 0.07 + 0.01 0.18 0.06 0.09 0.08 0.08 - 0.01 0.15 0.08 0.98 0.94 0.98 + 0.03 1.03 0.69 1.34 1.22 1.34 + 0.09 1.32 0.85 0.00 0.00 0.06 unch 0.00 0.13 0.04 0.07 0.07 0.07 unch 0.00 0.11 0.03 0.08 0.04 0.07 + 0.03 0.08 0.03 0.15 0.15 0.15 unch 0.00 0.21 0.09 0.20 0.19 0.19 - 0.01 0.26 0.09 0.03 0.02 0.02 - 0.01 0.06 0.02 0.02 0.01 0.01 + 0.00 0.04 0.01 3.00 2.79 2.89 - 0.11 3.85 1.68

Tahoe Res* N 11841 Tahoe Res T 3173 Tajiri Res V 71 Taku Gold* O 8 Taku Gold 259 Talon Metals T 743 Tamerlane Vent* O 3 Tamino Mnrls* O 1758 V 72 Tanager Energy Tango Mining V 1079 Tanqueray Expl V 743 Tantalex Res 858 Tanzania Mnls V 4881 Tanzania Rlty* X 981 Tanzania Rlty T 150 Taranis Res* O 234 Taranis Res V 204 Tarku Res V 141 Tartisan Nick 365 Tasca Res V 509 Taseko Mines* X 3263 Taseko Mines T 1491 Teck Res T 8711 Teck Res T 11 Teck Res* N 13002 Telson Res * O 34 Telson Res V 566 Tembo Gold V 19 Teranga Gold* O 61 Teranga Gold T 1522 Teras Res* O 23 Teras Res V 1239 Terraco Gold V 477 Terrax Mnrls* O 79 Terrax Mnrls V 238 Terreno Res V 703 Teslin Rvr Res V 979 Tesoro Mnrls V 91 Tethyan Res V 313 Teuton Res* O 4 Teuton Res V 159 Texas Mineral* O 114 Theia Res V 300 Themac Res V 21 Thor Expl V 29 Thunder Mtn Gd* O 5

4.92 4.65 4.89 + 0.10 9.68 3.76 6.32 6.09 6.27 + 0.04 12.98 4.75 0.17 0.13 0.13 - 0.02 0.18 0.08 0.06 0.05 0.05 - 0.01 0.20 0.00 0.07 0.00 0.07 + 0.01 0.25 0.06 0.07 0.06 0.07 unch 0.00 0.15 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 0.09 0.09 0.09 unch 0.00 0.20 0.08 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.67 0.51 0.56 unch 0.00 1.41 0.33 0.17 0.13 0.15 - 0.02 0.25 0.03 0.02 0.01 0.01 unch 0.00 0.04 0.01 0.41 0.34 0.39 + 0.04 0.59 0.24 0.52 0.44 0.51 + 0.04 0.79 0.31 0.07 0.05 0.07 + 0.02 0.11 0.03 0.09 0.07 0.09 + 0.02 0.14 0.07 0.05 0.04 0.05 unch 0.00 0.07 0.03 0.17 0.13 0.15 - 0.02 0.20 0.07 0.08 0.07 0.07 - 0.01 0.62 0.05 1.34 1.16 1.16 - 0.17 2.46 1.00 1.78 1.50 1.51 - 0.27 2.98 1.36 35.72 32.74 32.80 - 3.16 38.89 19.27 35.41 33.00 33.00 - 3.09 38.90 20.00 27.44 25.44 25.49 - 1.87 30.80 14.56 0.71 0.60 0.71 + 0.16 0.72 0.19 1.00 0.72 0.94 + 0.20 0.89 0.28 0.03 0.03 0.03 unch 0.00 0.05 0.01 3.31 3.14 3.31 + 0.15 6.40 1.83 4.27 4.11 4.20 + 0.08 4.35 2.36 0.05 0.05 0.05 - 0.00 0.12 0.05 0.08 0.07 0.08 - 0.01 0.18 0.07 0.09 0.08 0.08 - 0.01 0.15 0.08 0.37 0.32 0.37 + 0.03 0.59 0.30 0.48 0.42 0.48 + 0.05 0.78 0.38 0.06 0.05 0.05 + 0.01 0.18 0.03 0.49 0.39 0.47 + 0.07 0.76 0.39 0.08 0.07 0.07 - 0.01 0.12 0.06 0.30 0.20 0.25 + 0.02 0.57 0.18 0.14 0.14 0.14 unch 0.00 0.26 0.12 0.20 0.18 0.19 + 0.01 0.35 0.15 0.19 0.18 0.18 - 0.01 0.39 0.12 0.08 0.08 0.08 unch 0.00 0.12 0.07 0.09 0.08 0.09 + 0.01 0.10 0.03 0.16 0.00 0.15 - 0.03 0.25 0.09 0.20 0.20 0.20 unch 0.00 0.30 0.08

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Thunderstruck V 445 Thunderstruck* O 9 Tiger Intl V 15 Till Capital V 0 Till Capital* D 0 O 160 Timberline Res* Timberline Res V 88 Timmins Gold T 2717 Timmins Gold* X 6226 Tinka Res* O 204 Tinka Res V 957 Tintina Mines V 3 Titan Mining T 118 Titanium Corp V 236 2 TMAC Resource* O TMAC Resources T 149 TNR Gold V 267 Toachi Mg Inc* O 25 397 Toachi Mg Inc V Tolima Gold V 744 TomaGold V 304 Tombstone Expl* O 4607 Tonogold Res* O 89 Torex Gold* O 960 Torex Gold T 2627 Toron, Inc* O 8595 Torq Resources* O 259 V 695 Torq Resources Tower Res* O 29 Tower Res V 365 Transatlan Mng* O 0 Transatlan Mng V 120 Transition Mtl V 450 Treasury Metal T 330 Treasury Metal* O 83 Trecora Res* N 210 Trek Mining V 2809 Trek Mining* O 295 Tres-Or Res V 678 Trevali Mng* O 295 Trevali Mng T 9365 Tri Origin Exp V 2697 Trident Gold V 20 Trifecta Gold* O 90 Trifecta Gold V 138 Trigen Res* O 0 Trilogy Mtls T 14 Trilogy Mtls* X 247 TriMetals Mng* O 109 TriMetals Mng* O 19 TriMetals Mng T 335 Trinity Res* O 0 Trinity Valley V 4 Trio Resources* O 3268 TriStar Gold* O 53 TriStar Gold V 78 Triumph Gold V 307 Triumph Gold* O 106 Troilus Gold* O 0 Troilus Gold V 99 Troy Enrgy V 4 Troy Res* O 42 Troymet Expl V 140 True Grit Res V 200 508 True North Gem V Trueclaim Expl* O 1 Trueclaim Expl V 14 Tsodilo Res V 16 Tudor Gold * O 3 Tudor Gold V 160 O 3214 Tungsten Corp* Turquoise HIl* N 18110 Turquoise HIl T 3325 TVI Pacific V 961 TVI Pacific* O 1 Tyhee Gold* O 1685 Typhoon Expl V 212

0.12 0.10 0.12 + 0.03 0.13 0.05 0.10 0.08 0.10 + 0.01 0.10 0.04 0.09 0.09 0.09 unch 0.00 0.15 0.08 4.37 0.00 4.37 + 0.25 5.85 3.79 4.00 0.00 4.00 - 0.01 5.45 3.30 0.20 0.16 0.18 - 0.02 0.52 0.13 0.26 0.00 0.22 - 0.04 0.69 0.17 3.08 2.23 2.66 - 0.51 7.99 2.23 2.35 1.70 2.03 - 0.39 6.06 1.70 0.38 0.35 0.37 + 0.01 0.75 0.35 0.49 0.48 0.48 - 0.01 0.87 0.47 0.08 0.08 0.08 unch 0.00 0.09 0.04 1.43 1.20 1.43 + 0.11 1.65 0.92 1.05 0.87 0.98 + 0.08 1.50 0.70 6.35 0.00 6.22 - 0.95 12.76 5.45 8.33 7.83 8.12 - 0.20 17.19 6.90 0.04 0.03 0.04 + 0.01 0.09 0.03 0.12 0.11 0.11 - 0.01 0.35 0.11 0.15 0.13 0.13 - 0.02 0.50 0.15 0.02 0.01 0.02 unch 0.00 0.06 0.01 0.06 0.06 0.06 unch 0.00 0.11 0.06 0.00 0.00 0.00 - 0.00 0.01 0.00 0.13 0.10 0.11 + 0.01 0.40 0.03 7.70 6.81 7.48 + 0.23 20.41 6.81 9.85 8.90 9.60 + 0.10 27.54 8.85 0.01 0.00 0.01 + 0.00 0.02 0.00 0.55 0.46 0.54 + 0.07 1.10 0.35 0.70 0.60 0.69 + 0.08 0.90 0.43 0.10 0.10 0.10 unch 0.00 0.24 0.08 0.15 0.14 0.14 - 0.01 0.34 0.10 0.04 0.04 0.04 unch 0.00 0.08 0.04 0.06 0.06 0.06 unch 0.00 0.35 0.04 0.16 0.13 0.16 + 0.02 0.22 0.12 0.56 0.50 0.55 + 0.02 0.90 0.50 0.43 0.38 0.43 + 0.02 0.67 0.30 13.63 12.90 12.90 - 0.50 14.30 10.13 1.18 1.13 1.14 - 0.03 1.65 0.88 0.92 0.88 0.90 + 0.00 1.49 0.69 0.06 0.04 0.06 unch 0.00 0.07 0.03 1.10 0.98 0.99 - 0.11 1.37 0.76 1.44 1.26 1.27 - 0.15 1.75 1.03 0.04 0.02 0.03 + 0.01 0.06 0.02 0.18 0.18 0.18 unch 0.00 0.22 0.14 0.10 0.08 0.09 + 0.01 0.20 0.07 0.12 0.11 0.11 unch 0.00 0.40 0.10 0.00 0.00 0.06 unch 0.00 0.12 0.04 1.79 1.63 1.79 + 0.03 2.03 0.61 1.40 1.28 1.28 - 0.07 1.64 0.48 0.18 0.00 0.17 + 0.03 0.21 0.09 0.18 0.15 0.18 + 0.02 0.20 0.11 0.23 0.17 0.21 + 0.04 0.28 0.12 0.01 0.00 0.01 unch 0.00 0.16 0.01 0.12 0.12 0.12 unch 0.00 0.18 0.08 0.00 0.00 0.00 - 0.00 0.00 0.00 0.20 0.18 0.18 + 0.00 0.32 0.13 0.27 0.22 0.24 + 0.02 0.41 0.18 0.38 0.33 0.36 + 0.05 0.57 0.25 0.30 0.25 0.29 + 0.05 0.46 0.20 0.00 0.00 1.48 unch 0.00 1.59 0.88 1.88 0.00 1.75 - 0.05 2.25 0.26 0.00 0.00 0.09 unch 0.00 0.15 0.03 0.07 0.07 0.07 unch 0.00 0.13 0.05 0.02 0.01 0.01 unch 0.00 0.03 0.01 0.06 0.06 0.06 unch 0.00 0.07 0.02 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.09 0.09 0.09 unch 0.00 0.19 0.01 0.16 0.12 0.12 - 0.04 0.30 0.07 0.61 0.55 0.55 - 0.06 0.94 0.52 0.33 0.33 0.33 unch 0.00 0.71 0.31 0.45 0.42 0.43 unch 0.00 0.94 0.37 0.00 0.00 0.00 - 0.00 0.00 0.00 3.30 3.20 3.25 - 0.05 3.59 2.44 4.31 4.14 4.20 - 0.12 4.52 3.25 0.02 0.01 0.01 unch 0.00 0.02 0.01 0.01 0.01 0.01 + 0.00 0.02 0.00 0.00 0.00 0.00 + 0.00 0.00 0.00 0.09 0.06 0.08 + 0.01 0.12 0.04

U.S. Lithium* O 4798 U3O8 Corp* O 33 U3O8 Corp T 80 UC Res* O 0 Ucore Rare Mtl* O 368 327 Ucore Rare Mtl V UEX Corp T 2005 Ultra Lithium* O 15 Ultra Lithium V 95

0.03 0.02 0.02 - 0.01 0.06 0.02 0.29 0.25 0.27 - 0.03 0.49 0.18 0.35 0.32 0.34 - 0.04 0.80 0.21 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.19 0.17 0.18 - 0.01 0.26 0.14 0.25 0.23 0.24 unch 0.00 0.32 0.18 0.29 0.25 0.26 - 0.02 0.41 0.15 0.22 0.22 0.22 unch 0.00 0.63 0.11 0.30 0.27 0.29 + 0.01 0.80 0.14

U-V

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Umbral Enrgy* O 29 Unigold* O 94 V 53 Unigold United Lithium 5 United Res Hdg* O 104 United Silver* O 78 252 United States A* X United States S* N 64333 Unity Energy V 26 Universal Vent V 132 Upper Canyon V 70 Ur-Energy T 216 Ur-Energy* X 1899 Uracan Res V 940 Uracan Res* O 15 Uragold Bay Rs V 962 Uranium Energy* X 4967 Uranium Hunter* O 0 Uranium Res* D 2816 Uravan Mnrls V 243 URZ Energy V 72 URZ Energy* O 40 US Cobalt V 3959 US Cobalt * O 641 US Energy* D 330 US Precious M* O 979 USCorp* O 54 Vale* N 122144 Valencia Vent* O 0 ValGold Res V 57 Valley High Mg* O 3382 Valterra Res V 831 Valterra Res* O 210 Vanadium One V 427 O 267 Vanadiumcorp* Vanadiumcorp V 525 Vangold Res* O 131 Vangold Res V 174 Vanstar Mng Rs V 192 0 Vantex Res * O Vantex Res V 6 Vatic Vent V 498 N 2785 Vedanta* Velocity Mnrls* O 166 Velocity Mnrls V 331 O 77 Vendetta Mng* Vendetta Mng V 2156 Venerable Vent V 11 O 1 Venture Mnrls* Verde Potash T 459 Verde Res* O 60 Veris Gold* O 6 Victoria Gold V 1665 Victory Nickel 51 Victory Nickel* O 50 Victory Res V 65 Victory Vent V 336 Victory Vent* O 2 Virginia Enrgy V 25 Virginia Enrgy* O 20 Viscount Mng V 503 7 Visible Gold M V Visible Gold M* O 10 Vista Gold T 103 Vista Gold* X 960 Viva Gold V 22 Volcanic Gold V 119 Voltaic Min V 53 Voyageur Min V 19 O 40 VR Resources* VR Resources V 76 Vulcan Mnrls V 243 VVC Expl V 902

0.42 0.41 0.41 + 0.02 0.64 0.03 0.16 0.14 0.16 + 0.02 0.24 0.14 0.20 0.18 0.19 + 0.01 0.33 0.17 0.56 0.56 0.56 unch 0.00 0.56 0.40 0.04 0.03 0.03 - 0.01 0.07 0.00 0.00 0.00 0.00 + 0.00 0.01 0.00 0.29 0.24 0.27 - 0.03 0.52 0.20 40.26 33.52 33.94 - 6.02 47.64 18.55 0.20 0.00 0.18 - 0.04 0.24 0.10 0.37 0.33 0.35 + 0.02 0.50 0.33 0.28 0.23 0.28 + 0.05 0.34 0.03 0.85 0.77 0.78 - 0.04 0.98 0.62 0.66 0.59 0.60 - 0.03 0.79 0.50 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.02 0.02 0.02 - 0.00 0.09 0.01 0.11 0.10 0.10 - 0.01 0.23 0.08 1.38 1.30 1.30 - 0.04 2.00 0.96 0.00 0.00 1.39 unch 0.00 3.00 0.94 0.78 0.55 0.62 - 0.16 2.18 0.55 0.05 0.05 0.05 - 0.01 0.12 0.04 0.48 0.34 0.39 + 0.07 0.79 0.20 0.30 0.27 0.30 + 0.05 0.51 0.24 1.34 1.24 1.25 - 0.05 1.34 0.45 1.04 0.96 0.97 - 0.02 1.04 0.36 1.33 1.11 1.29 + 0.11 1.96 0.60 0.01 0.00 0.00 unch 0.00 0.02 0.00 0.01 0.01 0.01 - 0.00 0.02 0.00 13.00 12.33 12.51 - 0.29 14.67 7.47 0.00 0.00 0.15 unch 0.00 0.15 0.15 0.08 0.07 0.08 unch 0.00 0.09 0.03 0.01 0.01 0.01 - 0.00 0.04 0.00 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.04 0.03 0.04 + 0.01 0.05 0.01 0.06 0.06 0.06 + 0.01 0.17 0.06 0.09 0.08 0.08 - 0.01 0.14 0.04 0.12 0.11 0.11 - 0.01 0.18 0.05 0.11 0.09 0.09 - 0.01 1.38 0.05 0.14 0.11 0.12 - 0.02 0.25 0.06 0.09 0.08 0.08 unch 0.00 0.12 0.06 0.00 0.00 0.07 unch 0.00 0.16 0.04 0.08 0.00 0.08 - 0.01 0.24 0.05 0.06 0.06 0.06 - 0.01 0.09 0.04 19.39 17.03 17.05 - 2.24 21.99 13.78 0.16 0.15 0.16 - 0.01 0.35 0.12 0.23 0.19 0.20 - 0.01 0.47 0.15 0.19 0.17 0.17 + 0.00 0.27 0.14 0.25 0.20 0.20 - 0.04 0.35 0.19 0.10 0.10 0.10 unch 0.00 0.18 0.09 0.03 0.03 0.03 unch 0.00 0.04 0.02 0.96 0.80 0.85 + 0.07 1.77 0.39 0.02 0.01 0.01 - 0.01 0.20 0.01 0.00 0.00 0.00 + 0.00 0.02 0.00 0.41 0.39 0.40 - 0.01 0.74 0.36 0.07 0.06 0.07 + 0.01 0.08 0.03 0.05 0.05 0.05 unch 0.00 0.06 0.00 0.40 0.35 0.38 unch 0.00 0.75 0.13 0.20 0.17 0.19 + 0.01 0.36 0.06 0.14 0.14 0.14 unch 0.00 0.24 0.06 0.10 0.10 0.10 + 0.01 0.23 0.07 0.08 0.07 0.07 - 0.01 0.15 0.04 0.32 0.31 0.32 unch 0.00 0.47 0.22 0.13 0.13 0.13 unch 0.00 0.30 0.09 0.09 0.09 0.09 unch 0.00 0.15 0.04 0.99 0.90 0.96 - 0.01 1.46 0.77 0.78 0.69 0.75 + 0.04 1.11 0.60 0.30 0.25 0.25 - 0.05 0.69 0.25 0.21 0.19 0.21 + 0.01 0.65 0.19 0.23 0.20 0.20 - 0.06 1.35 0.18 0.09 0.08 0.09 + 0.02 0.15 0.04 0.21 0.21 0.21 unch 0.00 0.27 0.21 0.26 0.25 0.26 - 0.02 0.41 0.21 0.05 0.05 0.05 unch 0.00 0.08 0.04 0.04 0.04 0.04 + 0.01 0.07 0.02

Walker Lane* O 33 Walker River V 507 Wallbridge Mng T 461 749 War Eagle Mg V Waseco Res V 369 Wealth Mnrls* O 958 Wealth Mnrls V 2048 Wescan Gldflds V 4 Wescan Gldflds* O 0 O 333 Wesdome Gold* Wesdome Gold T 1757 V 622 West Af Res West High Yld V 176

0.10 0.10 0.10 unch 0.00 0.20 0.10 0.07 0.06 0.06 - 0.01 0.17 0.06 0.07 0.07 0.07 unch 0.00 0.15 0.06 0.18 0.00 0.18 unch 0.00 0.22 0.04 0.06 0.05 0.05 + 0.01 0.08 0.04 1.55 1.28 1.39 - 0.11 1.85 0.91 2.00 1.65 1.74 - 0.20 2.34 1.16 0.08 0.00 0.06 - 0.01 0.12 0.05 0.10 0.10 0.10 unch 0.00 0.10 0.04 1.65 1.32 1.53 + 0.17 3.15 0.00 2.01 1.74 1.96 + 0.21 4.20 1.64 0.43 0.39 0.42 + 0.02 0.50 0.22 0.40 0.34 0.36 unch 0.00 3.80 0.24

W-Z

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

West Kirkland V 947 West Kirkland * O 101 West Red Lake* O 16 West Red Lake 297 Westcot Vent V 15 Western Areas* O 7 Western Copper T 176 Western Copper* X 346 Western Pac Rs V 223 Western Pac Rs* O 42 Western Potash T 38 Western Res* O 3 Western Troy C* O 27 Western Troy C V 73 Western Uran 84 Western Uran* O 181 Westhaven Vent V 118 Westhaven Vent* O 76 Westkam Gold* O 2917 Westkam Gold V 6102 Westminster Rs V 370 Westminster Rs* O 0 Westmoreland* D 2391 WestMountain* O 0 White Energy* O 0 White Gold* O 90 White Gold V 285 White Metal R* O 673 White Metal Rs V 1268 White Mtn Engy* O 19 Whitehaven Coa* O 4 Whitemud Res V 113 Wincash Apolo* O 2 Winston Gold 2506 Winston Gold* O 530 Wolfden Res* O 180 Wolfden Res V 540 Wolfeye Res V 137 Wolverine Mnls* O 15 Wolverine Mnls V 258 Worldwide Res V 15 WPC Res V 824 X-Terra Res* O 50 X-Terra Res V 298 Xander Res V 362 Xiana Mng V 38 Xiana Mng* O 0 Ximen Mng* O 2 Ximen Mng V 63 XLI Tech Inc* O 200 Xtierra V 1481 O 40 Xtra-Gold Res* Xtra-Gold Res T 138 Yamana Gold T 10351 Yamana Gold* N 63224 O 1 Yellowhead Mng* Yellowhead Mng V 0 Yorbeau Res T 2556 Yorbeau Res* O 15 You Han Data* O 1 Zadar Vent * O 40 Zadar Vent V 811 Zara Res 6 Zara Res* O 2 Zena Mng V 35 O 29 Zenyatta Vent* Zenyatta Vent V 192 Zephyr Mnls* O 37 Zephyr Mnls V 101 Zimtu Capital V 100 Zinc One Res V 507 411 Zinc One Res * O Zincore Mtls V 13 Zincore Mtls* O 13 Zonte Mtls V 162

0.07 0.06 0.06 - 0.01 0.10 0.06 0.06 0.05 0.05 - 0.00 0.07 0.04 0.08 0.07 0.08 + 0.01 0.20 0.06 0.10 0.09 0.09 - 0.01 0.25 0.08 0.74 0.72 0.72 - 0.02 1.09 0.04 2.38 2.30 2.38 + 0.03 2.74 1.57 1.10 1.03 1.06 unch 0.00 1.85 1.01 0.85 0.81 0.82 - 0.01 1.44 0.80 0.03 0.02 0.03 + 0.01 0.03 0.01 0.02 0.01 0.01 + 0.00 0.03 0.01 0.42 0.41 0.41 - 0.01 0.92 0.37 0.32 0.32 0.32 + 0.00 0.47 0.29 0.02 0.02 0.02 unch 0.00 0.03 0.02 0.04 0.03 0.03 - 0.01 0.06 0.02 0.78 0.68 0.76 + 0.02 1.93 0.54 0.60 0.53 0.55 - 0.03 1.44 0.44 0.14 0.12 0.14 - 0.01 0.17 0.07 0.11 0.11 0.11 unch 0.00 0.12 0.05 0.04 0.02 0.03 + 0.00 0.04 0.01 0.04 0.04 0.04 + 0.01 0.05 0.01 0.14 0.13 0.13 unch 0.00 0.38 0.13 0.00 0.00 0.13 unch 0.00 0.28 0.12 0.52 0.42 0.45 - 0.04 16.00 0.40 0.00 0.00 3.30 unch 0.00 17.50 1.15 0.00 0.00 0.21 unch 0.00 0.30 0.12 0.74 0.67 0.71 + 0.15 1.73 0.50 0.96 0.80 0.91 + 0.13 2.34 0.65 0.09 0.07 0.08 + 0.02 0.17 0.05 0.11 0.09 0.11 + 0.02 0.24 0.03 0.00 0.00 0.00 + 0.00 0.01 0.00 3.31 0.00 3.27 unch 0.00 3.95 1.83 0.02 0.00 0.02 + 0.01 0.02 0.01 0.01 0.01 0.01 unch 0.00 0.21 0.01 0.06 0.05 0.05 + 0.01 0.08 0.03 0.06 0.03 0.04 + 0.01 0.05 0.02 0.34 0.00 0.32 - 0.02 0.56 0.10 0.45 0.38 0.40 - 0.04 0.68 0.11 1.30 1.18 1.23 - 0.01 1.64 0.49 0.10 0.09 0.09 - 0.00 0.12 0.06 0.13 0.10 0.11 - 0.01 0.17 0.05 0.03 0.03 0.03 unch 0.00 0.09 0.01 0.04 0.04 0.04 - 0.01 0.07 0.04 0.13 0.13 0.13 unch 0.00 0.28 0.13 0.17 0.15 0.15 - 0.02 0.39 0.13 0.20 0.00 0.20 + 0.03 0.42 0.15 0.62 0.49 0.55 + 0.06 0.63 0.08 0.00 0.00 0.36 unch 0.00 0.48 0.06 0.15 0.15 0.15 unch 0.00 0.44 0.11 0.22 0.19 0.20 - 0.01 0.45 0.13 0.01 0.01 0.01 + 0.00 0.04 0.00 0.05 0.05 0.05 unch 0.00 0.08 0.02 0.18 0.17 0.18 + 0.01 0.27 0.11 0.24 0.21 0.22 + 0.01 0.36 0.17 3.70 3.38 3.67 + 0.26 4.69 2.84 2.88 2.58 2.84 + 0.24 3.80 2.21 0.36 0.36 0.36 + 0.06 0.50 0.31 0.00 0.00 0.47 unch 0.00 1.08 0.38 0.04 0.04 0.04 + 0.01 0.10 0.04 0.03 0.03 0.03 unch 0.00 0.07 0.03 1.10 0.00 1.10 unch 0.00 2.00 1.00 0.05 0.05 0.05 unch 0.00 0.09 0.05 0.08 0.00 0.07 - 0.01 0.13 0.07 0.20 0.00 0.20 + 0.05 0.24 0.08 0.11 0.00 0.11 unch 0.00 0.17 0.11 0.10 0.10 0.10 unch 0.00 0.18 0.07 0.55 0.46 0.53 + 0.09 0.93 0.45 0.72 0.61 0.66 + 0.07 1.29 0.52 0.21 0.18 0.19 + 0.02 0.28 0.15 0.26 0.23 0.26 + 0.04 0.36 0.18 0.35 0.31 0.33 + 0.03 0.35 0.20 0.39 0.35 0.36 - 0.03 0.74 0.31 0.30 0.27 0.27 - 0.02 0.62 0.01 0.12 0.11 0.11 unch 0.00 0.35 0.06 0.09 0.08 0.08 unch 0.00 0.25 0.06 0.23 0.20 0.20 - 0.02 0.49 0.12

BID-ASK — MARCH 19–23, 2018 African Metals Aguila Amer Gd Alba Minerals Alderon Iron* Allante Potash ALQ Gold Amador Gold Amanta Res Anglo Pac Grp Arch Coal* Archon Mineral Arcturus Vent Arian Res Asbestos Corp AsiaBaseMetals Astur Gold Atlatsa Res* Atom Energy Aurelius Min Austin Res Banro Corp* Bell Copper Belvedere Res BHK Mining Black Bull Res Boss Power BQ Metals Brunswick Res Bullion Gld Res Bullman Mnls Cairo Res Canada Coal Canadian Mng Canstar Res Cascade Res Cassius Vents Centurion Mnls Chantrell Vent Chinapintza Mg CIM Intl Grp Clarmin Explor Cliffs Nat Res* CMX Gold & Sil CNRP Mng Comet Inds Coronet Mtls CR Capital Cresval Cap Curlew Lke Res Cyprium Mng Dawson Gold Discovery Harb Duncan Park H EastCoal Inc Eureka Res European Metal Excalibur Res Fieldex Expl Finore Mng Fire River Gol First Idaho First Legacy Four Nines Gem Intl Res Genius Props GFM Res

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

20-23_APRIL2_StockTables.indd 23

0.06 0.09 0.06 0.18 0.26 0.18 0.35 0.15 0.16 0.16 0.28 ... 0.40 0.14 0.52 0.11 0.50 0.11 0.11 0.25 0.29 0.22 0.45 0.17 0.19 0.19 0.39 0.01 0.02 0.01 3.00 3.15 1.60 3.18 ... ... 0.58 0.82 1.00 0.87 1.68 0.14 0.19 0.14 0.25 0.01 0.02 0.01 0.75 0.95 0.75 0.90 0.20 0.39 0.25 0.45 0.06 0.08 0.08 0.10 ... ... 0.06 0.45 0.30 0.38 0.32 0.50 0.13 0.14 0.14 0.15 0.02 0.03 0.02 0.04 0.11 0.11 0.11 2.10 0.17 0.20 0.20 0.22 0.23 0.27 0.23 0.32 0.02 0.02 0.02 0.03 0.10 0.18 0.10 0.15 0.17 0.20 0.17 0.17 0.20 0.17 0.32 0.03 0.04 0.03 0.05 0.34 0.40 0.40 0.47 0.06 0.10 0.06 0.10 0.36 0.95 0.34 0.44 0.10 0.12 0.09 0.12 0.31 0.33 0.33 0.79 0.06 0.07 0.06 0.15 0.02 0.04 0.02 0.04 0.07 0.04 0.07 0.03 0.03 0.03 0.08 0.06 0.09 0.06 0.11 0.01 0.05 0.01 0.02 0.19 0.40 0.19 0.79 0.20 0.25 0.21 0.50 1.45 3.20 1.43 7.17 0.07 0.10 0.12 0.12 0.71 0.76 0.76 8.00 2.27 3.10 3.10 3.20 0.19 0.25 0.25 0.25 0.10 0.23 0.10 0.13 0.04 0.05 0.05 0.06 1.25 1.38 1.38 1.49 0.03 0.03 0.03 0.15 0.34 0.30 0.30 0.06 0.07 0.06 0.10 0.01 0.02 0.02 0.02 0.12 0.18 0.12 0.30 0.03 0.03 0.03 0.12 ... 0.01 0.01 0.09 0.10 0.10 0.11 0.18 0.19 0.19 0.21 0.12 0.12 0.11 0.36 0.03 0.07 0.09 0.06 0.25 0.06 0.06 0.18 0.27 0.18 0.21 0.09 0.16 0.16 0.16 0.01 0.02 0.02 0.08 0.15 0.16 0.16 0.25 0.08 0.10 0.10 0.10

0.18 0.04 0.12 0.05 0.05 0.13 1.31 0.81 0.07 0.20 0.19 0.01 0.06 0.05 0.03 0.01 0.10 0.03 0.04 0.02 0.06 0.15 0.02 0.08 0.06 0.21 0.04 0.10 0.04 0.03 0.03 0.06 0.01 0.08 0.21 0.98 0.04 0.18 2.50 0.17 0.07 0.04 0.10 0.16 0.05 0.01 0.07 0.02 0.01 0.12 0.17 0.05 0.18 0.08 0.01 0.12 0.01

Global Cobalt Global Cop Grp GobiMin Golden Harp Golden Secret GoldTrain Res Gray Rock Res Great Lakes Gr Greatbanks Res Grenville Gold Grosvenor Res Hadley Mng Halio Energy Highbury Proj Highvista Gold Hunt Mng Icon Explor Indico Res Indigo Expl Infinite Lith Inform Res Intl Battery Iron South Mng Jazz Res Jiulian Res Kenna Res La Imperial Lamelee Iron Le Mare Gold Leo Res Lithion Energy Logan Res Lovitt Res Madeira Mrnls MAG Silver* Malbex Res Manado Gold Masuparia Gold Match Capital Mega Copper Mesa Expl Metalo Manuf Micrex Dev Midasco Cap Midnight Star MillenMin Vent Millstream Min Milner Con Slv Minecorp Egy Mineral Hill Minsud Res Mistango River Moag Copper Montana Gold Mukuba Res MX Gold Navy Res Nebu Res New Dimen Res New Klondike Nexco Res Nickel North Niocan Inc Norsemont Cap North Am Ptash Northern Uran

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

0.02 0.02 0.02 0.07 0.08 0.08 0.11 0.35 0.41 0.34 0.58 0.07 0.11 0.11 0.24 0.30 0.35 0.30 0.50 0.08 0.37 0.08 0.19 0.20 0.24 0.21 0.57 0.05 0.05 0.05 0.10 0.03 0.05 0.03 0.08 0.10 0.08 0.14 0.17 0.27 0.17 0.21 0.95 0.98 0.95 0.15 0.18 0.18 1.10 0.22 0.35 0.25 0.35 ... 0.16 0.17 0.37 0.49 0.45 0.51 0.46 0.46 0.41 0.84 0.02 0.02 0.02 0.04 0.03 0.04 0.04 0.06 0.26 0.29 0.28 0.32 0.16 0.24 0.16 0.39 ... ... 0.31 0.40 0.24 0.27 0.24 0.28 0.08 0.11 0.08 0.09 0.05 0.06 0.05 0.06 0.13 0.16 0.15 0.07 0.11 0.07 0.08 0.42 0.48 0.48 0.48 0.17 0.17 0.17 3.80 1.06 1.09 1.09 2.18 ... ... 0.10 0.10 0.06 0.06 0.06 0.10 0.03 0.08 0.08 0.10 0.04 0.14 0.04 0.05 12.52 13.30 12.52 14.40 0.38 0.40 0.39 0.40 0.06 0.07 0.07 0.24 0.08 0.11 0.11 0.15 0.01 0.04 0.04 0.17 0.26 0.17 0.17 0.04 0.05 0.05 0.09 0.30 0.45 0.45 1.00 0.02 0.02 0.01 0.03 0.08 0.15 0.08 0.11 0.18 ... 0.17 0.25 0.05 0.07 0.05 0.04 0.06 0.04 0.06 0.12 0.07 0.09 ... ... 0.12 0.20 0.20 0.25 0.23 0.34 0.07 0.21 0.10 0.16 0.03 0.04 0.03 0.07 ... ... 0.08 0.09 0.10 0.10 0.10 0.23 0.23 0.23 0.25 0.11 0.11 0.11 0.22 0.23 0.40 0.25 0.32 0.04 0.04 0.04 0.05 0.06 0.06 0.06 0.16 0.01 0.01 0.01 0.22 0.30 0.25 0.50 0.04 0.05 0.04 0.05 0.07 0.08 0.07 0.18 0.38 0.45 0.40 0.47 0.05 0.08 0.04 0.01 0.02 0.02 0.03

0.04 0.33 0.01 0.19 0.06 0.15 0.03 0.08 0.16 0.15 0.22 0.13 0.03 0.01 0.03 0.12 0.07 0.22 0.04 0.06 0.02 0.04 0.15 0.17 0.55 0.05 0.04 0.02 0.02 6.12 0.30 0.05 0.05 0.16 0.04 0.23 0.01 0.05 0.08 0.04 0.07 0.17 0.06 0.01 0.02 0.06 0.08 0.16 0.01 0.04 0.15 0.02 0.06 0.31 0.01

NQ Explor Nrthn Lion Nubian Res Orestone Mng Oriental Non F Orofino Mnrls Pac Arc Res Pac Bay Mnrls Pac Cascade Pac Topaz Parana Copper Patriot Gold Phoenix Gold Phoenix Metals Plata Latina Prime Meridian Quantum Cobalt Quartz Mtn Res Rare Element* Red Tiger Mng Remington Res Richmond Mnls Riley Resource Rockland Mnls Rockridge Gold Rojo Res Romulus Res Royal Sapphire Rubicon Mnrls* Scavo Res SGX Res Shoshoni Gold Silver Phoenix Sniper Res Sonoro Mtls SouthGobi Res Stockport Expl Stone Ridge Ex Superior Mng Talmora Diamd Tearlach Res Telferscot Res Theia Res Thunder Mtn Gd Tiller Res Tri-River Vent Troy Enrgy True Grit Res UC Res United Coal United Lithium Vale* Valencia Vent Vanadium One Vela Minerals Venerable Vent Visible Gold M Wabi Explor Westridge Res Whistler Gold Winston Res Zena Mng Zinco Mng Zincore Mtls

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

0.01 0.01 0.01 0.02 0.34 0.68 0.48 0.67 0.24 0.26 0.27 0.38 0.08 0.09 0.08 0.13 0.70 ... 1.05 1.05 0.14 0.19 0.14 0.19 0.53 0.75 0.70 0.82 0.04 0.04 0.04 0.06 0.01 0.02 0.01 0.12 0.15 0.13 0.21 0.35 0.45 0.35 0.36 0.08 ... 0.10 0.15 ... 0.01 0.01 0.19 0.20 0.21 0.04 0.05 0.04 0.05 0.12 0.15 0.14 ... ... 1.10 3.15 0.75 0.90 0.90 1.50 0.11 0.16 0.15 0.89 0.02 0.03 0.03 0.04 0.34 0.51 0.40 1.45 0.05 0.06 0.05 0.18 0.11 0.75 0.11 0.20 0.07 0.08 0.08 0.11 0.22 0.37 0.30 0.50 0.40 0.49 0.40 0.50 0.15 0.23 0.19 0.20 0.16 0.22 0.20 1.40 ... ... 0.03 1.35 0.36 0.57 0.36 0.54 0.02 0.02 0.02 0.05 0.05 0.05 0.07 0.07 0.19 0.07 0.24 0.01 0.01 0.01 0.15 0.17 0.17 0.20 0.17 0.19 0.17 0.40 0.02 0.03 0.03 0.03 0.30 0.33 0.30 0.60 0.06 0.08 0.06 0.13 0.02 0.05 0.05 0.05 0.08 0.15 0.08 0.05 0.06 0.06 0.12 0.07 0.08 0.08 0.12 0.14 ... 0.30 0.32 0.37 0.44 0.37 0.65 0.04 0.12 0.04 0.06 0.09 0.09 0.15 0.05 0.06 0.06 0.07 0.01 0.02 0.02 0.03 ... 0.01 0.01 0.57 1.35 0.56 0.56 ... ... 10.24 11.10 0.21 0.22 0.22 0.30 0.13 0.15 0.13 0.20 0.24 0.23 0.54 0.10 0.14 0.10 0.18 0.12 0.13 0.13 0.30 0.08 0.09 0.09 0.09 0.59 0.59 0.60 0.80 0.07 0.10 0.08 0.08 0.56 0.58 0.56 0.82 0.10 0.11 0.10 0.18 0.05 0.07 0.05 0.11 0.20 0.11 0.35

0.01 0.31 0.17 0.05 0.72 0.06 0.09 0.03 0.10 0.09 0.09

0.03 0.20 0.55 0.06 0.02 0.40 0.04 0.11 0.01 0.30 0.23 0.13 0.06 0.03 0.26 0.04 0.05 0.11 0.12 0.02 0.06 0.04 0.01 0.01 0.07 0.12 0.19 0.03 0.02 0.01 0.40 6.57 0.10 0.18 0.09 0.09 0.05 0.29 0.03 0.55 0.07 0.06

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