The Northern Miner Feb 7 2022 Issue 3

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Report reveals serious problems with Rio Tinto’s workplace culture REPORT

| Study outlined “systemic” sexual harassment, bullying and racism

Teck Resources’ QB2 project to cost up to US$500M more than planned CHILE

| Expansion impacted by Covid-19,

weather and subsurface conditions

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Workers at one of Rio Tinto’s iron ore operations in the Pilbara region of Western Australia. RIO TINTO

BY CECILIA JAMASMIE

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io Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) has unveiled the results of an unfavourable external report outlining a culture of “systemic” bullying, sexual harassment and racism at the world’s second largest miner.

The company requested the audit, carried out by Australia’s former sex discrimination commissioner Elizabeth Broderick, last year. The move was part of an ongoing effort by Rio Tinto’s CEO, Jakob Stausholm, to clean-up the company’s tainted image following the destruction of two 46,000-year-old rock sacred shelters in Western Australia in 2020.

The report, covering a fiveyear period and based on a survey answered by about 10,000 Rio Tinto employees, shows that almost 30% of women and 7% of men said they had been sexually harassed at work. Of those, 21 female workers also reported cases of actual or attempted rape or sexual assault.

Nearly half of all employees who

responded to an external review of the miner’s workplace culture commissioned by Rio Tinto said they had been bullied, while racism was found to be common across several areas, the report released on February 1, revealed.

Stausholm said the results were “disturbing” and that the company would implement all 26 recommendations from the report. “The eye-opener for me was twofold,” Stausholm told Reuters. “I hadn’t realized how much bullying exists in the company and secondly that it’s quite systemic — the three issues of bullying, sexual harassment and racism … that’s extremely disturbing.”

Rio Tinto is the latest Australian miner to address issues with its corporate culture. BHP (NYSE: BHP; LSE: BHP; ASX: BHP) said last year that it had fired 48 workers for sexual attacks and harassment since 2019, in a submission to a parliamentary inquiry into sexual assault in Western Australia’s remote fly-in, fly-out (FIFO) sites.

Stausholm, a Danish national who took the top post 13 months ago,

has put in practice his crisis management and peacemaking skills since. Besides trying to restore trust with Australian indigenous groups and other stakeholders, the mining executive has faced alleged corruption charges in Guinea related to Rio Tinto’s way of securing rights to the massive Simandou iron ore deposit.

The former head of finances has also tackled Oyu Tolgoi’s delay and climbing costs, which triggered Mongolia’s ire to the point of threatening to revoke the 2009 investment agreement underpinning the mine development. This feud was put to bed last month, following Stausholm’s visit to Mongolia.

Kellie Parker, Rio Tinto Australia’s chief executive officer, said the company is already addressing issues outlined in the report. Special attention will be given to the company’s internal reporting system after respondents said they had no confidence in complaining to their superiors and felt that doing so could put them or their career prospects in danger. TNM

TOP TEN ‘S’ TRENDS IN ESG / 3

BY CECILIA JAMASMIE

hares in Teck Resources (TSX: TECK.A/TECK.B; NYSE: TECK), Canada’s largest diversified miner, tumbled on January 28 after it warned that Covid-19-related costs of its massive Quebrada Blanca Phase 2 (QB2) expansion project in Chile could rise by up to US$500 million.

The Vancouver-based company now expects the pandemic to impact the project cost by between US$900 million and US$1.1 billion, up from its previous estimate of US$600 million. It said the increase was mostly tied to inflationary cost pressures, particularly in diesel prices and supplies, as well as absenteeism and labour inefficiencies related to the pandemic.

Non-Covid-19 cost pressures related to weather and subsurface conditions also required an additional contingency of up to 5% of the QB2 capital estimate of US$5.26 billion, the miner said.

Teck anticipates that it will spend a total of US$1.73 billion to US$1.96 billion on developing QB2 in 2022, including Covid-19 capital.

QB2 is Teck’s key growth project.

It is slated to begin operations in the second half of the year, doubling the company’s copper production by 2023.

The almost-finished expansion will extend the ageing deposit’s life by 28 years and substantially boost production to 300,000 tonnes of copper a year from 23,400 tonnes in 2017.

The mining giant is already studying a Phase 3 for the mine, which will double its capacity to 600,000 tonnes of copper a year.

The potential extension will make the mine Chile’s second-largest copper operation, after Escondida. It will also situate Quebrada Blanca among the world’s top five copper mines.

In terms of costs, Phase 3 would need a $5 billion investment, as it would have to include the installation of a new concentrator.

Copper is one of four business units at Teck, besides steelmaking coal, oil and zinc, and is considered

a company priority.

The miner, with several steelmaking coal and copper operations in British Columbia, the most western province in Canada, was affected by extreme weather conditions in the region. Floods and freezing temperatures caused interruptions and substantial reductions to rail service and port activities.

Coal sales for the fourth quarter reached 5.1 million tonnes, below the 5.2 million to 5.7 million tonnes estimated in its revised guidance issued in December.

Elk Valley wasn’t affected by record rainfall in B.C. during November as inventories were low at the time, but cold weather disruptions have led to near-record inventories and the company may have to slow down production if there are further transportation interruptions. TNM

PM40069240

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Gold rally defies traditional headwinds ANALYSIS

| Bank of America expects price to average US$1925 per ounce this year

CENTRAL BANKS HAVE INCREASED THEIR GOLD PURCHASES AND EXPOSURE

Source: World Gold Council, BofA Global Research

B

BY HENRY LAZENBY

ank of America expects the gold price rally to persist despite a challenging macro backdrop.

Gold continues trading above US$1,800 per oz. despite the respective ten-year interest rates and Dollar Index rising from intra-year lows of -1.25 and 89.5 in 2021 to -0.54 and 95.7. The bank views the sustained price performance as “remarkable” since yields and the dollar tend to be the most critical price drivers of the yellow metal.

EM CENTRAL BANKS HAVE BECOME MORE IMPORTANT FOR THE GOLD MARKET

Source: World Gold Council, BofA Global Research

Further supporting the gold price are investment flows, which have been “very resilient,” according to BofA analyst and lead author Michael Widmer.

In the bank’s Global Metals Weekly report, he said gold had disconnected from its traditional drivers because of significant dislocations buried beneath headline inflation, interest rates and currency moves. These market forces raised the appeal for investors to hold gold in a portfolio.

BofA expects the gold price to average US$1,925 per oz. in 2022.

Widmer said inflation at 7% put the U.S. Federal Reserve in a difficult position but cautioned that tighter monetary policy might not be the silver bullet to fix the problem.

“While some of the inflation is driven by domestic factors, others, including supply chain dislocations, are not; also, a mix of temporary and more persistent drivers are at play.

We also note that the Fed’s reaction function has changed.

“Gradual hikes, accompanied by declining inflation, steady economic growth, and stable markets may be

GOLD AND TEN-YEAR REAL RATES

Source: Bloomberg, BofA Global Research

the ideal scenario for US monetary policy, but this is a difficult path.

The risk of a policy mistake is high, and rising equity volatility tends to support perceived safe havens, gold included,” said Widmer.

The bank also observed that policy normalization contributed to a nearly 50% drop in bitcoin and crypto assets, which is another factor likely supporting robust gold inflows. Moreover, emerging market countries have been net gold buyers in recent years, partially over concerns about how the shift away from ultra-lose monetary

policy in DMs would impact their portfolios. While EM central banks allocate 6% of their portfolio to the yellow metal, owning around 12% would optimize the risk-return profile. “So, EMs have significant scope for gold additions, particularly after the recent crypto fiasco in El Salvador.

Gold is a hedge for investors and EM central banks alike. And this matters as global imbalances make a comeback, particularly when geopolitics are flaring up,” said Widmer. The bank noted these global imbalances as rising, as was the VIX. TNM

Endeavour Mining, Fortuna Silver and Iamgold operations unaffected by coup in West Africa BURKINA FASO

| Military junta seizes control of country

Haul trucks at Endeavour Mining’s Wahgnion gold mine in Burkina Faso. ELEMENTAL ROYALTIES

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BY NAIMUL KARIM

ndeavour Mining (TSX: EDV; US-OTC: EDVMF; LSE: EDV), Fortuna Silver Mines (TSX: FVI; NYSE: FSM) and Iamgold (TSX: IMG; NYSE: IAG), say their mines in Burkina Faso have not been affected after a military junta seized control of the country and detained its president.

More than a dozen soldiers announced on state television on January 24 that they had seized control of the West African nation and detained President Roch Marc Christian Kabore following a day of gun

battles in the capital, Associated Press reported.

The group of soldiers cited the president’s inability to control the deteriorating security situation in the country amidst a deepening Islamic insurgency. The soldiers also said that those who had been arrested “are being held in a safe place, with respect for their dignity,” Associated Press reported.

In a statement, Kaboré’s political party accused the soldiers of trying to assassinate the president and another government minister, and said the presidential palace in the capital of Ouagadougou remained

An employee examines drill core at the Wahgnion mine, where Elemental Royalties owns a 1% NSR royalty. ELEMENTAL ROYALTIES

surrounded by “heavily armed and hooded men,” according to the news agency.

Burkina Faso is home to a number of mines operated by mining companies.

Fortuna, which owns the Yaramoko gold mine in the country, said its operations continue as normal and that the “current political situation” has not affected “its workforce and associated supply chains.”

Iamgold said it is “closely monitoring and assessing the evolving political situation in Burkina Faso” and that its Essakane gold mine, 330 km northeast of the capital, “contin-

ues to operate unaffected.”

Endeavour Mining, which has five of its seven mines in the west African country, said its mines and projects “continue to operate as usual” and have not been “affected by the current political situation.”

“The company continues to monitor the situation and will provide updates as and when appropriate,” Endeavour stated in a press release on January 24.

According to Raymond James analyst Craig Stanley, who follows Endeavour Mining, the five mines — Hounde, Wahgnion, Mana, Bongou and Karma — account for 40% of

his asset valuation for the company.

Last year Endeavour produced 1.5 million oz. of gold, beating its guidance of 1.2 to 1.4 million ounces, and at an all-in sustaining cost (AISC) of US$880 per ounce.

“2021 was another successful year for Endeavour in which we delivered against all our objectives,” Sebastien de Montessus, the company’s CEO, said in a separate press release on January 24. “Our focus was on executing our capital allocation priorities ... while supporting our operations, continuing to strengthen our balance sheet and investing in exploration.” TNM

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 7-20, 2022

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Mining’s top ten ‘S’ trends in ESG for 2022 ESG

| Awareness of social sustainability issues has increased social data have lagged behind environmental disclosures, but maturing of ESG investment, social risk minimization efforts, and legislated accounting of the social impact of investment portfolios are driving this trend. Beyond substantiating sustainability claims, these annual disclosures also enable companies to build their “S” credibility by demonstrating continuous improvement and progress towards their goals.

BY ELIZABETH FREELE AND RACHEL DEKKER

2

Special to The Northern Miner

021 was a big year for ESG. Extreme weather, pandemic ripple effects across healthcare, education, and the economy, the COP26 climate summit (and protests), and new sustainability legislation prompted calls for corporate action on a range of social and environmental topics. Long-time sustainability practitioners finally saw their field get more executivelevel attention.

Last year was also marked by growing recognition of the materiality of ESG risks, the interconnectedness of environmental and societal challenges, and the need for urgent collective action. Nothing indicates this will abate. In fact, global mining executives have ranked ESG as the top industry risk for 2022.

While climate action has taken centre stage, awareness of social sustainability issues has magnified too.

Schroders’ 2021 Global Investor Study found that social issues have risen in importance for over half of investors globally. As ESG integration becomes more sophisticated, performance standards raise the bar, and ever more disclosure expectations emerge, many companies want guidance on where to focus.

So, what are the “S” trends that mining companies should take note

OLIVER LE MOAL/ ISTOCK

of and take action on in 2022? Here’s our top ten: 1 Scrutiny of mining’s role in the net-zero transition It’s undeniable: Mining is crucial in the transition to a net-zero future and many ESG-savvy companies boast their role in supporting a lowcarbon economy. However, companies should expect increasing scrutiny of their impact as recognition grows that more mining will place additional burdens on local ecosystems and communities, including risk for human and Indigenous rights violations. The net-zero transition also raises concerns of socio-economic impacts for workers and communities through loss of jobs and other economic opportunities, for example, in

coal mining. Mining companies will be expected not only to enable the net-zero transition, but to actively contribute to a “just” transition.

2 Rejection of ‘greenwashing’ Mining’s role in our net-zero future does not make individual companies inherently sustainable. Businessas-usual miners riding on the coattails of critical minerals’ sustainability credentials do so at their own peril. Lofty net-zero or community development goals and hollow sustainability claims will not hold up against probing. And greenwashing is more easily identified, as a common ESG vocabulary emerges, standards evolve, and the practice of impact quantification grows. Instead, companies that set thoughtful goals,

create well-resourced plans to achieve them, and demonstrate commitment through action, not just words, will be rewarded. And substantiating sustainability claims will become critical as growing ESG obligations and legislation the world over lead to a rise in ESG litigation. Emerging requirements include the European Union’s Directive on Mandatory Human Rights, Environmental and Good Governance Due Diligence, and the U.S. SEC mandatory ESG disclosure framework for public companies.

3 Drive for social data and disclosures To counter dubious claims, assess company risk, and support ESG accounting, the appetite for social data will grow further in 2022. Robust

4 Focus on value chains For many companies, key ESG risk exposure resides in their value chains, where oversight and influence are often limited. Obligations stemming from regulatory development such as the above EU Directive, will continue to raise the bar globally. It is no longer enough for companies to focus on their own operations: they are expected to manage ESG risk and performance throughout their value chain. This not only means that procurement and product stewardship due diligence expectations are growing, but also that downstream customers will seek confirmation of mining companies’ own practices.

Key “S” due diligence topics such as modern slavery and Free Prior and Informed Consent (FPIC) principles are being legislated in more and more jurisdictions. The treatment of workers, diversity and inclusion, commuSee ESG / 16

JOINT VENTURE ARTICLE

Boroo aims to be mid-tier gold producer within three years

BY NORTHERN MINER STAFF

For a relatively new company, Boroo Pte Ltd. has ambitions to become a mid-tier gold producer within the next three years, says chief executive officer Dulguun Erdenebaatar.

To achieve this goal, he said the company “is acquiring undervalued brownfield assets that have been placed on care and maintenance for various reasons and then extracting further value from them by extending their mine life.”

“Our approach is to take these operations to full production capacity as soon as possible, which allows us to generate good cash flow within a short time that we then re-invest back in the project. It also avoids significant infrastructure costs associated with developing greenfield projects from scratch.”

Headquartered in Singapore, Boroo is a privately-held company with a portfolio of producing and development-stage assets in Peru and Mongolia.

The company is focused on advancing its 100%-owned flagship Lagunas Norte gold mine in northern Peru, about 141 km east of the coastal city of Trujillo.

Boroo acquired the mine from Barrick Gold (TSX: ABX; NYSE: GOLD) in June 2021 for a commitment to pay Barrick US$81 million over a period of at least two years, as well as granting Barrick a 2% net smelter return (NSR) royalty. Between 2005 and 2019,

Lagunas Norte produced over 10 million oz. of gold.

Within six months of acquiring the property, Boroo released an updated technical study for the mine.

The study estimated a 22-year mine life based on the existing mineral reserve estimate, with an average annual life-of-mine production of 147,000 oz. of gold and an after-tax net free cash flow of US$976 million.

All-in sustaining costs are expected to average US$885 per oz. of gold over the life of the mine. The after-tax net present value is estimated at US$450 million, based on a gold price of US$1,650 per oz. and using a 5% discount rate, with an after-tax internal rate of return of 25.3%.

Together with the engineering study, Boroo released an updated mineral reserve estimate for Lagunas Norte. The project now contains 49.4 million proven and probable tonnes grading 2.49 grams gold per tonne and 6.24 grams silver per tonne for 3.95 million oz. contained gold and 9.92 million oz. silver.

The updated estimate confirmed that an additional four million oz. contained gold could be processed over the life of the mine, noted Dulguun. “In addition to the increased reserve estimate, the expansion is also a de-risked approach to re-starting the project and scaling it up to full production capacity.”

He added that production from the existing heap leach operation at the

Processing plants at Boroo’s Lagunas Norte mine in Peru. CREDIT BOROO PTE. LTD

site has already been re-started at a rate of 60,000 oz. of gold per year.

The company also released an updated feasibility study for the treatment of historically stockpiled carbonaceous material at the site.

Dulguun said that the Carbonaceous Material Optimisation Project (CMOP) will involve the processing of about 15 million tonnes of ore with an average grade of 2.4 grams gold per tonne from historically stockpiled goldbearing oxide materials.

He said the updated study included a more comprehensive sampling program of the previously mined material, with test work on the material confirming previous estimates for precious metals recovery and the economic benefits of the CMOP. “The study also improved on the economics of the project as we were able to purchase and repurpose processing equipment from another site, leading to a significant reduction in capital costs for the project.”

The project costs now stand at US$143 million, a reduction of about US$111 million from the initial estimate, with an internal rate of return of 67% and a payback period under two years.

To date, Boroo has completed construction and operational permitting for the CMOP and is now undertaking early earthworks on the site, which it plans to complete this quarter. It has finished basic engineering and has completed 60% of the detailed engineering work, with construction slated to start in March this year.

The company anticipates the project will increase production to 160,000 to 170,000 oz. of gold per year and expects construction to be completed by the fourth quarter of 2022, with the first gold pour scheduled for this December.

“There are also 12 exploration concessions within a 20 km radius of the mine that we inherited from Barrick, which we plan to start

exploring this year to identify one million gold ounces of measured resources within three years,” said Dulguun.

He added that Boroo is looking to acquire additional assets in Peru and North America and is mulling over a possible listing on the Toronto Stock Exchange. However, he said the company “first needs to demonstrate tangible results for potential future investors before we decide to go public.”

The company’s assets in Mongolia include the Boroo gold mine and processing facility, about 110 km northwest of the capital Ulaanbaatar, and the Ulaanbulag gold mine, about 21 km to the southeast of the Boroo mine.

The preceding Joint-Venture Article is PROMOTED CONTENT sponsored by BOROO PTE. LTD. and produced in cooperation with The Northern Miner.

Visit www.boroomc.com.sg for more information.

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THE VIEW FROM ENGLAND

EDITORIAL GLOBAL MINING NEWS · SINCE 1915

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An inflection point for uranium and the nuclear industry?

I

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n this issue we shine the spotlight on uranium and the outlook for the nuclear fuel industry. As it happens, our timing is spot on because Cameco president and CEO Tim Gitzel recently presented his views on the sector at the CIBC Western Institutional Investor Conference, which was held virtually on January

BY TRISH SAYWELL 19-20. His overview of the sector and Cameco’s role in it were so good that I decided to give him the floor this issue.

TIM GITZEL: “Let me start with an overview of the last year, 2021. I know it’s a year people would like to forget because it’s all about vaccines and variants and boosters and lockdowns. But I can tell you from our point of view in the nuclear space and in the uranium space that it’s probably the most exciting year we’ve had easily in the last ten or eleven years.

So I’ll tell you a little bit about that. We think it’s a transition year, we don’t think it’s a flash in the pan, and we think it’s a sustainable transition year for us. There are a lot of good things coming down the pike for us in the future. We haven’t been very excited about things over the last ten or eleven years here at Cameco. It’s been a tough slog for us. But I can tell you from the people that are in the halls, there’s excitement in the halls at Cameco and in the nuclear industry generally.

So let me just give you a bit of an overview of what we saw in 2021: Obviously it started the year with a new president in the United States.

President Biden came in; the first act was to sign the Paris Accord and you say ‘big deal’ but that WAS a big deal. That showed the U.S.’s commitment to de-carbonization, to other commitments to reduce fossil fuel use, to combat climate change. That was a huge move. The same day he signed an order cancelling the Keystone pipeline, which didn’t go over very well here in western Canada, but it kind of showed where they were at on fossil fuels. He [Biden] held an earth summit in April, again ratcheting down the fossil fuel net-zero commitments even lower, and sooner, which really started putting pressure on. We then saw at the world level the United Nations level, with Secretary Gutierrez, what did he call it? A code red for humanity. That climate change is experiencing Code Red for humanity, which rang alarm bells around the world. The IAEA [International Atomic Energy Agency], the IEA [International Energy Agency] and NEA [Nuclear Energy Agency] — everywhere we started hearing more and more about it and that it’s very, very serious.

It’s not like we haven’t been talking about it for the last five years or more, but it really seemed to gather some momentum in 2021, and then there was the net zero, and net zero commitments. And there’s not a country, a company, a state, a province, in the world who hasn’t thought about it, or probably made a commitment to net zero. Those commitments, and I speak for Cameco, are easy to make, not so easy to realize. And there’s been introduced an element of culpability on it. You can say it, but you better be able to show it and show how you are going to do it, and by when.

And that put a whole other layer of complexity where governments can come and go and make commitments and not commitments, policy or not policy, but when a company like ours makes a commitment, we take it seriously and we have to achieve. We are going to be audited on it, we’re going to get judged on it, there is going to be a report on it.

All of that is backdrop. So there is accountability. And you see guys like Jeff Bezos and Bill Gates taking electronic accountability in their operations, saying where is our electricity coming from? The world needs it — dependable electricity. We have to decarbonize all the electricity we have, which is probably 80% fossil-fuel fired, and we’re going to have to double it, just to meet demand for electricity in the world; electric cars and all the electrification that’s going on. And people don’t want just any electricity. They want clean, reliable, affordable electricity. So you go to look at your options and say what are our options? Coal, well no one loves that very much. Maybe carbon capture storage will work but it’s got a long way to go. Maybe oil? Not so much for electricity usually. Gas? Well if you can get it, it’s pretty expensive now, and if you can find LNG and get the boat to come to your country and drop it off, you might use gas. You might rely on the Russians for gas. Hydro? Not easy. Everybody loves it.

It’s clean. But try damming up a river. We’ve had two projects here in Canada, Musk Rat Falls and Site C in B.C., just disasters so far, not producing much electricity, way over budget, and lots of controversy around flooding traditional lands. And then you land at nuclear, and people say, ‘Ooh, don’t really love that either.’ But they really don’t like brownouts and black-outs and the lights not coming on when you turn the switch on.

And so the bottom line is we’re going to need all of the above. And while all this conversation has been going on over the past months and even years, nuclear has come back onto the agenda again. All of a sudden people looked and said, ‘we really can’t exclude any one source of energy, we’re going to have to look at all of them.’ And so you’re seeing the nuclear business, and I speak about the higher levels — the World Nuclear Association, NEI [Nuclear Energy Institute] — we’re getting invited back to the parties we haven’t been to for probably ten or twelve years. Getting invited to speak and talk about nuclear. Many countries are now looking at nuclear, recognizing the value of that.

In the U.S. we saw reactor lives get extended in Illinois. Big huge move!

Like keeping those on for the next number of years is huge. New builds around the world, I can name you a whole list of countries looking at new builds around the world. SMRs — small modular reactors — now in vogue and the fuel that goes with them, advanced reactors.

So there was excitement in 2021 that I haven’t seen, a buzz if you like, for ten years. So that all bodes well for us today. I think there are about 433 reactors operating in the world. There’s 51 under construction. You look at a country like China. They’re at 50 reactors today. They have another 20 in the hopper. They’re going to have 70 reactors by 2025, with another, they say, 30, or 40, under construction. I mean we’re talking growth now, and growth that’s pretty exciting.

So we translate that down then from the reactor side to the Cameco business, which is fuel. And so, what’s that doing to the supply demand See EDITORIAL / 14

COLUMN

| It’s the economy, stupid

BY DR. CHRIS HINDE Special to The Northern Miner

I

t is traditional at this time of the year to make resolutions and predictions. In our industry the latter invariably includes the forecasting of metal prices. I am both too old and too ignorant to fall into this particular pontification trap, but we are seemingly surrounded by those able to look into the future.

I know for a fact, however, that metal-price forecasts are, on average, hopelessly wrong. An in-house study of metal-price predictions was conducted some years ago while I was at S&P Global Market Intelligence (SPGMI), and the results were hilarious. SPGMI calculated that, for year after year, the median forecast (of some 50 analysts) invariably approximated to the current price plus an extension of the existing trend. Inflection points were almost always missed.

The best analysts can, no doubt, make reasoned estimates of metals demand and supply, but judging market sentiment and the whim of speculators (and so prices) is still very much an art rather than a science. As an engineer, I worry why those with an apparently almost infallible record of making predictions are telling us about their success on LinkedIn (not unrelated, it seems, to subscriptions in investor newsletters). Shouldn’t they keep their nuggets to themselves, and make vast fortunes. Or are they just being generous to us, the less gifted?

I’m not sure if I speak for anyone else but my love affair with raging bulls of gold is long over. You know the type; think of a price, double it and then give as many interviews as possible. They can be recognised a mile off. When I was the editor of Mining Journal we used to say that the more gold on the person, the less was likely to be in the mineral deposit they were promoting. We need a collective noun for those that hype precious metals; an ‘aullock’ of gold soothsayers springs to mind.

Analysis is easier for metals other than gold. Whilst price predictions remain problematic, there can be no doubt about the burgeoning demand for most metals and the long-term need for mined products.

The reason? Three words; the global economy. And what drives global economic growth? The inevitably rising population, and increasing per capita wealth and consumption.

Individual aspirations are clear; we all want to be American, do we not? At least in terms of their access to, and ability to acquire, material goods. The Minerals Education Coalition calculates that the average American born last year will

consume almost 3.0 million pounds (1,340 tonnes) of minerals, metals and fuel in their lifetime. The good news for the planet is that this is 7.2% lower than the calculation for Americans born in 2020 (and the year-on-year prediction of lifetime coal consumption is down nearly 21%).

Although this lifetime consumption in the U.S. is down on the previous year, it remains a heady target for each of the 11.2 billion people likely to be living on our planet by 2100. Notwithstanding recycling, more efficient usage and the development of new materials, the demand will rise for a whole swathe of metals and minerals as the developing nations develop.

This isn’t a vague forecast, it is science. Numerous academic studies have established the close link between metals consumption and the wealth of individuals and nations — although the intensity of metals usage declines at higher levels of per capita gross domestic product (as the wealthy spend proportionally less on goods and more on services). There is an especially close relationship, not surprisingly, between global industrial production and the demand for base metals.

Five years ago, the World Bank published a report (part of the Maddison Project) that calculated global GDP since the time of Christ. Measured in 2011 dollars, global GDP was only US$183 billion two millennia ago, and had reached an inflation adjusted US$108 trillion in 2015. Indeed, since WWII, real global GDP has doubled every 14-23 years, and the world’s wealth is now growing exponentially.

Almost 30 years ago, James Carville (a policy strategist in Bill Clinton’s successful 1992 presidential campaign) coined the phrase “The economy, stupid” to remind the campaign’s workers of the three messages on which they should focus (the other two being “Change vs more of the same” and “Don’t forget health care”).

The mining industry should think of itself as being in a presidential election; we need to focus on a simple message. Global GDP is soaring, and the world needs our metals and minerals. I can’t predict shortterm metal prices but, long term, I know that the mining industry will become even more important, at least it will if we are all to become American. TNM Dr. Chris Hinde is a mining engineer and the director of Pick and Pen Ltd., a U.K.-based consulting firm he set up in 2018 specializing in mining industry trends. He previously worked for S&P Global Market Intelligence’s Metals and Mining division.

DEPARTMENTS Editorial . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Professional Directory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Market News . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Metal, Mining and Money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Stock Tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20-23

COMPANY INDEX Antofagasta . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 Appia Rare Earths and Uranium. . . . . . . . . . . .11 Azincourt Energy . . . . . . . . . . . . . . . . . . . . . . . .11 Baseload Energy. . . . . . . . . . . . . . . . . . . . . . . 11,12 BHP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 Cameco . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 9,15 CanAlaska Uranium . . . . . . . . . . . . . . . . . . . . . .12 Capstone Mining . . . . . . . . . . . . . . . . . . . . . . . . . .7 Denison Mines . . . . . . . . . . . . . . . . . . . . . . . . . . .10 Electra Battery Materials . . . . . . . . . . . . . . . . . . .8 Endeavour Mining. . . . . . . . . . . . . . . . . . . . . . . . .2 Evolution Mining. . . . . . . . . . . . . . . . . . . . . . . . . .6 Fission 3.0 Corp . . . . . . . . . . . . . . . . . . . . . . . 10,14 Fission Uranium . . . . . . . . . . . . . . . . . . . . . . . . .15 Fortuna Silver Mines . . . . . . . . . . . . . . . . . . . . . . .2 Fortune Minerals . . . . . . . . . . . . . . . . . . . . . . . . . .8 Glencore . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 Global Atomic . . . . . . . . . . . . . . . . . . . . . . . . . . .12 Harte Gold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 Iamgold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2

IsoEnergy . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12,13 Kinross Gold. . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 Montage Gold. . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 Newcrest Mining . . . . . . . . . . . . . . . . . . . . . . . . . .6 NexGen Energy . . . . . . . . . . . . . . . . . . . . . . . . . .15 Northern Star . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 Orca Gold . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .8 Perseus Mining. . . . . . . . . . . . . . . . . . . . . . . . . . . .8 Purepoint Uranium . . . . . . . . . . . . . . . . . . . . . . . .9 Resolute Mining . . . . . . . . . . . . . . . . . . . . . . . . . . .8 Rio Tinto . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 Searchlight Resources . . . . . . . . . . . . . . . . . . . 9,15 Silver Lake Resources . . . . . . . . . . . . . . . . . . . . . .6 Skyharbor Resources . . . . . . . . . . . . . . . . . . . . . . .9 St Barbara . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 Standard Uranium . . . . . . . . . . . . . . . . . . . . . . . .13 Teck Resources . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 Trench Metals . . . . . . . . . . . . . . . . . . . . . . . . . . . .13

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 7-20, 2022

5

Hiring can be a fine art ODDS ‘N’ SODS

| Guns, grenades and geologists

BY RALPH RUSHTON

R

Special to The Northern Miner

ecruiting geologists and engineers for a project can be a tricky business. For all sorts of reasons, someone who comes across well in an interview can be an absolute antisocial nightmare in the field; hygiene issues, weird proclivities and even weirder political or religious opinions, drugs ... the list of transgressions is endless, but the end result is always the same; someone sitting alone in a corner of the cook house while everyone else plays cards and throws things at them.

I’ve hired geologists to work in Pakistan, Iran, and Bulgaria. The biggest success was a team of young Bulgarian geologists we hired in the mid-90s for Anglo American’s exploration office in Sofia. The four guys we picked have all forged decent careers in the international exploration industry. When we hired them, starting on maybe $250 a month — good money in post-communist Bulgaria — they were thrilled to be working for a “western” mining company. Each of the guys had a different skill set to add to our group — prospecting, logistics, drill program supervision and so on; a competent and adaptable project team that we used all over the world.

A few years later, in 1996, I was on the hiring trail again, this time working with a Turkish colleague, Yasar, to build a small team of Yemeni geologists from the university in the capital city, Sana’a.

Yemen is a beautiful country that has been well and truly screwed by

Left: Core storage at the Jabali zinc oxide project in Yemen in the mid-1990s.

Right: Geotechnical sampling of a water well in Yemen. RALPH RUSHTON

decades of on-again-off-again (but mainly on again) wars. It’s also very tribal so you need good local knowledge to negotiate the complex intertribal politics. To make matters significantly worse in the country, most of the adult male population spends every afternoon stoned on the narcotic leaf Qat. Businesses shut down mid-afternoon while the men lounge around, big balls of masticated Qat leaves in their bulging cheeks, swallowing the juice. Apparently, the effects are excitement, euphoria, loss of appetite and a massive drop in anything related to productivity in the hot Yemeni afternoons.

When we arrived in the city, we were blissfully unaware of the complexities of Yemeni culture and naively got down to work to establish a field team. The plan was to explore

of the local tribes they identified as; a vital piece of knowledge given the different traditional tribal territories we’d be working in.

The man was dressed in the traditional Yemeni men’s way, wearing an ankle-length, long-sleeved skirt-like garment offset by a formal grey jacket.

Around his waist he sported a cloth belt holding a traditional J-shaped Yemeni knife, the Jambiya. I was well used to the sight of knife-carrying men and knew they’d come to the interviews sporting them as part of their business finery.

As the first geologist sat down, I looked up cheerfully from my notes to introduce myself, trying hard not to butcher the polite “Salaam alaikum” greeting. It dawned on me mid-greeting that he’d placed a loaded AK-47 unthreateningly on the desk between

a couple of zinc oxide projects and eventually to drill them assuming Yemen’s politics didn’t intervene and muck it all up (spoiler alert: it did).

Our local contact in-country — a British expat called Don who worked for an Egyptian-owned oil company — had put feelers out to the local university and let them know we’d be needing three or four English-speaking geologists. The university drew up a short list and Yasar and I set aside a day or two for interviews hosted in a meeting room in the Taj Sheba hotel, a small oasis of calm amidst the total chaos of Sana’a.

On the appointed day, the first geologist was shown in for the 9 a.m. slot. Yasar and I were seated behind an important-looking desk armed with a list of stock questions to ask in simple English, including which

us. Slightly alarmed, Yasar and I glanced at each other. Our geologist didn’t notice our worried glances.

He was busy taking two live hand grenades and a nasty looking pistol out of his jacket pocket and putting them next to the AK-47.

The amount of weaponry shouldn’t have been a surprise to us. Most Yemeni men of a certain age openly carry a rifle, and some towns are known for their open-air arms markets where you can buy knock off AKs, rocket launchers, and go full-on Rambo if you really want to.

A man thinks of many things when faced with a heavily armed stranger.

Front and centre in my mind was ‘how the heck can I NOT offer this guy a job?’ He’s armed, he knows where See ODDS ‘N’ SODS / 16

TSXV: EVER OTC: EVGUF

evergoldcorp.ca

HIGH GRADES FROM GOLDEN LION DRILLING ESTABLISH A BRIGHT OUTLOOK FOR 2022 After several seasons of searching, in our final 3 holes of the 2021 field season we discovered our first high-grade gold-silver domain within the large-scale footprint of the fault-bounded epithermal-style GL1 Main Zone, located on our Golden Lion property in the rich geology of northwestern B.C. The results included the highest grades of gold, silver, zinc and lead ever achieved in drilling on the property.

The initial high-grade domain is open for expansion in all directions, and the nature of these systems suggests a high likelihood of finding more as we explore the system below and along strike. Join us as we target high grades in our high-priority follow-up drilling in the approaching 2022 field season.

6

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FEBRUARY 7-20, 2022 / THE NORTHERN MINER

Silver Lake Resources grabs troubled Harte Gold M&A

| Mine has been in production since 2019

BY CECILIA JAMASMIE

A

ustralia’s Silver Lake Resources (ASX: SLR) said on January 21 that it had won the bid for Harte Gold (TSX: HRT), whose sole asset is the three-year-old Sugar Zone mine in Ontario.

The announcement comes only days after a second potential, anonymous buyer for the troubled gold miner emerged.

The deal comprises US$74.5 million in credit to the buyer, reflecting the value of loans Harte owes the Perth-based miner. It also involves nearly US$22 million out of the money hedge book and accounts associated with the operation of the Sugar Zone, the issuing of Silver Lakes shares at an estimated value of US$28 million, and a small cash consideration of up to US$3 million, the companies said.

Silver Lake has also entered into an agreement to acquire a combined 2% net smelter return (NSR) royalty on the entire Sugar Zone property, for US$22 million payable in Silver Lake shares. The transaction is subject to the successful acquisition of Harte

Harte Gold’s Sugar Zone mine in northern Ontario. HARTE GOLD

Gold, it said.

The Sugar Zone mine, 30 km north of White River, sits on about 81,000 hectares of a gold-rich greenstone belt east of the Hemlo area gold mines. The asset, in operation since 2019, is expected to have a productive life of 13 years at current production levels.

Sugar Zone is slated to churn out 102,000 ounces of gold by 2023, with sustainable yearly production of 98,700 ounces from that point to 2027.

Despite its potential, the asset gave Harte Gold numerous headaches from the get-go. On top of dealing with poor ventilation underground,

The Sugar Zone underground mine has 797,000 ounces of gold reserves at 7.18 grams gold per tonne, similar in nature to the Rothsay and Mt. Monger mines that Silver Lake operates in Australia, where it produces around 250,000 ounces of gold a year.

Silver Lake’s Canadian foray is one of the latest incursions into North America for Australia’s mid and large cap gold miners.

Northern Star (ASX: NST) bought the Pogo gold mine in Alaska from Sumitomo in 2018. Newcrest Mining (TSX: NCM; ASX: NCM) followed suit by securing the Red Chris mine in British Columbia for $1.1 billion in 2019 and buying Pretium Resources in November for US$2.8 billion.

On Jan. 20, Newcrest cemented its acquisition of Pretium Resources, which granted Australia’s largest gold producer access to the target company’s Brucejack underground gold mine in British Columbia.

Evolution Mining (ASX: EVN) and St Barbara (ASX: SBM) have also been acquiring properties and juniors in Canada. TNM

Sibanye-Stillwater ditches US$1B Brazil copper and nickel deal

Antofagasta says Chile water shortage to hit 2022 production ENVIRONMENT

the company faced equipment failures, the freezing of its tailings due to severe weather, higher-than-estimated costs, and both the quantity and grade of gold recovered at the mine being lower than expected.

These factors drove the troubled Canadian miner to announce last May it would not generate sufficient cash from the operation to fully fund its planned investment activities, including a tabled expansion of the mine, and its debt service obligations to French bank BNP Paribas.

Shortly after, the Toronto-based company kicked off the process of looking for a buyer last year, as part of a strategic review process.

Harte said in the Fall of 2021 it was in danger of running out of money and warned about an imminent mine shutdown by year’s end unless there was a cash infusion.

Silver Lake came into the picture in November, acquiring credit facilities provided by BNP Paribas to Harte Gold. It also committed to loan the Canadian miner up to $10.8 million to fund mining operations through the creditor protection proceedings.

| Rainfall in central part of country has

M&A

| Company plans to continue growing its battery metals portfolio

decreased more than 30% in last two decades

An aerial view of the Santa Rita nickel-copper-cobalt mine in northeastern Brazil. ATLANTIC NICKEL

Antofagasta’s flagship Los Pelambres mine in Chile. ANTOFAGASTA PLC

C

BY CECILIA JAMASMIE

hilean miner Antofagasta (LSE: ANTO) is expecting annual copper production for 2022 to be below last year’s levels, as operations continue to be impacted by the country’s longest drought in decades.

The company, which already saw 2021 copper production drop by 1.7% to 721,500 tonnes, anticipates churning out between 660,000 and 690,000 tonnes of copper this year due to a mix of lower grades at some operations and water shortages.

Antofagasta’s flagship mine, Los Pelambres, has been one of the company’s operations hardest hit by the lack of rainfall.

Chile’s central region alone, where the mine is located and home to the majority of both the country’s population and key copper mines, has seen rainfall decrease by more than 30% in the last 20 years.

The drought not only is impacting miners, but also farmers and wine makers, which has led the authorities to reform the nation’s water code.

Chief executive officer Iván Arriagada

noted Antofagasta is ready to commission a desalination plant in the second half of the year, which will provide a long-term solution to ongoing water shortages at Los Pelambres.

Arriagada also drew attention to the multiple favourable long-term trends that were in place in the copper market.

“The demand picture for copper continues to be strong as copper is essential to economic activity and green investment initiatives such as electric vehicles, infrastructure and renewable energy,” he said.

Antofagasta is in the midst of expanding Los Pelambres’ concentrator plant, with work slated to be completed in early 2023.

The company, majority-owned by Chile’s Luksic family, one of the country’s wealthiest, noted that it is reviewing the project’s costs due primarily to Covid-19. It already anticipates that capital expenditure this year will increase to between US$1.7 billion and US$1.9 billion.

Net cash costs this year were estimated at US$1.55 per lb. of copper, up from US$1.20 per lb. in 2021, reflecting lower production and increased input costs, especially sulphuric acid. TNM

S

BY CECILIA JAMASMIE

ibanye-Stillwater (NYSE: SBSW; JSE: SSW) has walked away from a US$1 billion deal to acquire the Santa Rita nickel and Serrote copper mines in Brazil, which would have boosted its growing battery metals portfolio.

The South African miner said the decision followed a “geotechnical event” at Santa Rita, which the company thought to be “material and adverse to the business.” Santa Rita is one of the world’s largest nickel-cobalt sulphide open-pit mines.

The deal with Appian Capital would have seen Sibanye-Stillwater buying operating companies Atlantic Nickel, which owns the Santa Rita mine, and Mineracao Vale Verder (MVV), which is developing the Serrote mine.

It would have also given it a 5% net smelter royalty over potential future underground production at Santa Rita.

The acquisition would have been SibanyeStillwater’s fourth battery metal investment in less than a year. In September 2021, the company grabbed a 50% stake in ioneer Ltd’s (ASX: INR) lithium-boron project in Nevada.

The company, however, will continue to grow its battery metals portfolio, it said in the statement.

Appian Capital reacted by saying that

Sibanye-Stillwater had no basis to lawfully terminate the agreement to purchase the Brazilian assets. It noted the “geotechnical event” cited by the company referred to a localized fracture that occurs in the course of open-pit operations.

“To remedy the condition of the area in question, some amount of additional waste will need to be mined earlier in the mine plan, which equates to less than 1% of the mine’s volume over a 34-year mine life. Appian does not agree that this constitutes a material adverse event,” an Appian Capital spokesperson said in an emailed statement.

Appian added that it was assessing all of its legal options and will take all necessary action to enforce its legal rights.

The use of nickel in lithium-ion batteries has grown over the past two years. The accelerated roll-out of electric vehicles (EVs) is making certain types of the metal popular among investors, as it can be processed into battery precursor materials.

The more traditional use of nickel is in the processing of stainless steel for appliances and utensils.

Analysts expect shortages of copper, cobalt, nickel and other industrial materials needed for the shift to a low carbon world, partly due to underinvestment in the mining sector and accelerating demand. TNM

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 7-20, 2022

7

Capstone enters exploration deal with BHP Copper for project near Pinto Valley mine ARIZONA

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| Company to conduct drilling and collect metallurgical samples at Copper Cities site

BY MARILYN SCALES

apstone Mining (TSX: CS) has entered into an 18-month agreement to conduct drilling and collect metallurgical samples at BHP Copper’s Copper Cities project, located 10 km east of Capstone’s Pinto Valley copper mine in Arizona.

Copper Cities was developed in the 1950s as part of the United States’ effort to increase copper output in support of the Korean War. The project included open pit mining, concentrate production and leaching. Milling ceased in 1989, and leaching continued until 1982.

The U.S. Geological Survey estimates that the project milled 68.7 million tonnes of mineralized material at a grade of 0.66% copper. Production totaled 895 lb. of copper, including 75 million lb. of copper cathode.

Capstone Mining’s Pinto Valley open pit mine, concentrator and solvent extraction/electrowinning (SX/EW) plant are located about 125 km east of Phoenix. Production began in 1975, and since that time the mine has produced more than 4 billion lb. of copper, including 500 million lb. of copper cathode.

Capstone acquired the project from BHP Copper in 2013.

“We believe Copper Cities is geologically a mirror image of Pinto Valley with the same host rocks and age,” said Capstone senior VP

Capstone Mining’s Pinto Valley copper mine in Arizona. CAPSTONE MINING Copper cathode at Capstone Mining’s Pinto Valley copper mine in Arizona. CAPSTONE MINING

of strategic project and exploration Brad Mercer. “Our plan currently underway calls for a $6.7 million two phase drill program aimed at twinning historical drill holes and to select a portion of these for metallurgical testing.”

Capstone is currently studying how Pinto Valley production can be increased to increase cathode production to 300 million to 350 million lb. annually from mineralized waste over the two decades. Called PV4, the study includes the potential use of three technological innovations: • Jetti catalytic leach technology, which could increase cut-off grades

to the mill and increase leachable tonnage by upping mining rates, raising mill grades and increasing leaching. A column leach test is being conducted in the first half of this year.

• Coarse particle flotation technology, which could increase copper recovery by at least 6% to a total of about 90% while providing the flexibility to boost mill throughput.

• Pyrite agglomeration, which would divert acid-generating minerals such as chalcopyrite from tailings to the dump leaching operation so more copper can be recovered and some of the acid necessary for production could be generated. The capital cost

of agglomeration would be about $7 million with a one-year payback.

In June last year, Capstone completed its SV3 mill optimization project, which included replacing the shell of ball mill #3. The project increased throughput and copper recovery while reducing water consumption by upgrading the tailings thickeners.

The Pinto Valley project has measured and indicated resources of 1.4 billion tonnes grading 0.29% copper (8.9 billion contained lb.) and 0.006% molybdenum (170 million contained lb. molybdenum). The inferred resource is 170.6 million tonnes grading 0.26% copper and

0.006% molybdenum.

Aside from Pinto Valley, Capstone operates the Cozamin copper-silver mine in Mexico and is developing the Santo Domingo copper-irongold project in Chile.

The company met its 2021 production guidelines with 85,000 tonnes of copper from Pinto Valley and Cozamin. This year guidelines have been set at 82,000 tonnes to 90,000 tonnes of copper including that provided by the Santo Domingo project. Capstone further said it plans to spend $192 million on capital projects and $14 million on exploration in 2022. TNM

More than a dozen dead and 100 injured after blast in Ghana’s mining region NEWS

A

| Truck carrying explosives to Chirano gold mine collides with motorcycle

BY NAIMUL KARIM

t least a dozen people were killed and more than 100 injured after a vehicle carrying explosives to a gold mine exploded after colliding with a motorcycle in western Ghana, police and government officials have reported.

Police say that the truck was carrying explosives to the Chirano gold mine, 90% of which is owned by Kinross Gold (TSX: K; NYSE: KGC), when the collision took place on January 20 near the town of Bogoso, located about 250 km away from the country’s capital Accra.

According to Kinross, the vehicle was owned by Maxam, a company that specializes in energetic materials, including blasting solutions for mining and quarrying.

“The authorities’ investigation is ongoing regarding the Maxam vehicle, and we are not in a position to comment at this time,” Kinross spokesperson Louie Diaz told The Northern Miner in an emailed response to questions on Jan. 21.

“We extend our condolences to all those affected by this tragedy and will provide support to the response efforts and provide relief items to those affected.”

Maxam was not immediately available for comment.

Ghana’s vice president, Mahamudu Bawumia, who visited the site after the blast, said that the government was working with mining companies to support the region’s residents.

The Chirano gold mine, 90% of which is owned by Kinross Gold. KINROSS GOLD

“A major disaster has befallen us ... not only the community here, it has befallen the whole of Ghana,” he told reporters. “We express our deepest condolences to those who have lost their lives ... so far, we fear that at least 13 people have died. The numbers will change as we get more information.”

“The government on its part is doing everything to support the families, to support those who have been injured ... we were very fortunate we could call on 11 ambulances to come in and support this rescue,” he added.

Ghana’s president Nana AkufoAddo said that the incident was “truly sad, unfortunate and tragic.”

“Government will spare no effort to ensure a rapid return to a situation of normalcy for residents,” he said on Twitter on January 20.

Seji Saji Amedonu, deputy director-general of the National Disaster Management Organisation, told Reuters that 500 buildings had been destroyed due to the blast.

“The public has been advised to move out of the area to nearby towns for their safety while recovery efforts are underway,” Reuters reported while quoting a police statement.

Nearby towns were asked to open up public spaces, including classrooms and churches, to survivors, the police said. TNM

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FEBRUARY 7-20, 2022 / THE NORTHERN MINER

Electra signs battery recycling and cobalt sulphate supply deal with Marubeni COBALT

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| Ultimate goal is to create a battery materials park in northern Ontario

BY MARILYN SCALES

lectra Battery Materials (TSXV: ELBM; US-OTC: ELBMF) has signed a battery recycling and cobalt sulphate supply agreement with Japanese conglomerate Marubeni.

The two have signed a memorandum of understanding that covers the sourcing of black mass derived from lithium-ion batteries for Electra’s refinery in Cobalt, Ontario, and the marketing of Electra’s cobalt sulphate in Japan.

Electra will sell a portion of the cobalt into existing li-ion battery markets in Japan that serve the North American market. Marubeni has a wide network of battery recyclers in Asia and elsewhere from which to source the black mass material.

Electra is on track to commission its near-zero hydrometallurgical cobalt refinery in late 2022.

The biggest advantage is that a hydrometallurgical plant will have 51% lower greenhouse gas emissions than conventional Chinese smelting plants. When the plant opens, the

Electra Battery Materials’ cobalt refinery in northern Ontario. FIRST COBALT/ELECTRA BATTERY MATERIALS

company will be the only supplier of battery-grade cobalt in North America.

Electra (then known as First Cobalt) published a feasibility study for restarting the refinery near the town of Cobalt in May 2020. The plant produced cobalt carbonate as well as nickel carbonate and silver precipitate between 1996 and 2015.

The plant is fully permitted. The

study looked at spending US$55 million to bring it back into production at an expanded rate of 55 tonnes per day, significantly expanded from its original 12 tonnes per day capacity.

The expanded plant would have an annual capacity of 25,000 tonnes of battery-grade cobalt sulphate.

As part of the expansion, Electra is adding a solvent extraction plant.

Fortune Minerals plans Alberta cobalt refinery COBALT

| Plant will reduce cost of developing flagship Nico project in the Northwest Territories

Metso Outotec will supply the modular equipment and process control facility. The new plant will have a smaller footprint than conventional SX/EW equipment, and the mixersettles will take 30% less time to install.

Glencore (LSE: GLEN) signed a five-year agreement to supply feed for the plant in 2019. It also provided US$5 million toward the feasibility

Perseus Mining secures key stakes in two African gold assets M&A

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An aerial view of Fortune Minerals’ Nico cobalt-gold-bismuth copper project in the Northwest Territories. FORTUNE MINERALS

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BY ALISHA HIYATE

ortune Minerals (TSX: FT) intends to buy a defunct steel processing plant in Alberta and turn it into a cobalt refinery.

The company says the plant, which it will purchase for $5.5 million, will significantly reduce the cost of developing its Nico cobalt-gold-bismuthcopper project in the Northwest Territories.

Fortune has signed an agreement with JFSL Field Services to acquire the site, northeast of Edmonton, subject to a six-month period of additional due diligence. The hydrometallurgical refinery it plans to build at the site would process concentrates from Nico and produce cobalt sulphate for use in the manufacturing of lithiumion batteries.

The JFSL facility is located on a

31-hectare brownfields piece of land in Alberta’s Industrial Heartland and adjacent to a CN rail line.

A feasibility study was completed for Nico in 2014; Fortune plans to update key figures from the study to account for development of the Alberta refinery, cost escalations and revised commodity prices. The study outlined an open pit and underground project with an initial capital cost of around $600 million, including $250 million for a refinery.

Nico has received environmental assessment approval and a Type A water licence needed to build and operate the mine and concentrator. The recent completion of the 97-km Tlicho highway to the nearby community of Whati, along with a spur road Fortune plans to build, will allow for trucking of metal concentrates from the mine to the rail

head at Hay River or Enterprise, N.W.T. From there, the concentrate would be shipped by rail to the refinery in Alberta. The company notes that transport costs will be kept low because simple flotation of Nico ores delivers a high concentration ratio. This will allow the mill feed to be reduced to roughly 4% of the original mass.

The plan is in line with both Canada’s and Alberta’s plans for economic diversification in the West, valueadded processing in Canada, and domestic supply of critical metals.

“Cobalt, lithium and nickel are all minerals with huge demand in the modern world,” said Alberta Premier Jason Kenney in a press release.

“Fortune’s new refinery is exactly the type of job creating, diversifying investment we envisioned with our mineral strategy and action plan.” TNM

study and agreed to provide US$40 million toward the cost of expansion and reopening. Glencore has the option to toll about 1,000 tonnes of cobalt-containing material at the plant, and Electra was granted an option to purchase an undisclosed amount of cobalt hydroxide feed material annually from Glencore.

The agreement with Glencore and a separate one with a subsidiary of China Molybdenum are expected to provide 90% of the feed for the refinery.

Electra signed an offtake agreement last year with metals trader Stratton Metals to purchase 100% of the cobalt sulphate from the refinery for five years.

Electra’s ultimate goal is to create a battery materials park in northern Ontario, with the support of the Canadian government. Such a facility will refine cobalt, nickel and black mass, converting them into precursor cathode active materials (PCAM) for lithium-ion batteries. This approach is expected to lower raw material costs through economies of scale. TNM

| Projects located in Sudan and Côte d’Ivoire

BY CECILIA JAMASMIE

erseus Mining (TSX: PRU; ASX: PRU) has struck a deal to acquire a 15% stake in Canadian junior Orca Gold (TSX: ORG) from Resolute Mining (ASX: RSG), which will give the Australian gold producer stakes in two promising assets in North and West Africa.

With the move Perseus is securing an interest in Orca’s 70%-owned Block 14 gold project in northern Sudan and a 31.5% stake in Montage Gold (TSXV: MAU), which has the Kone gold project in northern Côte d’Ivoire.

Perseus will provide Orca with a US$5 million short-term loan facility for exploration and development of the Block 14 gold project. The debt facility is due to be repaid at the end of June, with interest charged at a rate of 7.5% a year.

The company revealed it has been in talks with Orca to potentially acquire all of the junior’s outstanding securities. These negotiations are ongoing, Perseus said.

Block 14 is an open cut gold project with the potential to produce 200,000-300,000 ounces annually during its 13.6-year mine-life.

Given Perseus’ interest and his-

tory in Côte d’Ivoire, it seems the company’s main target is the Kone project, located about 350 km northwest of Yamoussoukro, the country’s political capital.

Scoping work at the asset has shown its potential as a 15-year, 200,000 plus ounces per year operation, which is expected to churn out more than 300,000 gold ounces per annum during its second and third year of production.

Perseus has recently achieved an annualized gold production rate of 500,000 ounces of gold per year from its three existing operating mines: Edikan in Ghana, and Sissingué and Yaouré in Côte d’Ivoire.

The miner’s CEO and managing director Jeff Quartermaine noted that while Perseus expects to be able to maintain this level of production based on exploration success around its existing gold mines, it is always seeking to identify value accretive inorganic growth opportunities.

“We believe that Orca could represent such an opportunity,” Quartermaine said.

Resolute Mining, in turn, said that the 44¢ per share sale was part of its strategic focus on core operating assets, adding it would help to strengthen its balance sheet. TNM

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SPECIAL FOCUS

URANIUM LIENS/ISTOCK

CIBC initiates coverage of Cameco and remains “bullish” on uranium sector MARKETS

| Nuclear energy expected to play key role in addressing fossil fuel dependency

Searchlight Resources finds uranium south of the Athabasca Basin | Junior prospectors are rushing to stake claims around Searchlight’s Kulyk uranium-REE discovery URANIUM

C

Cameco’s flagship Cigar Lake mine in Saskatchewan. CAMECO

C

BY DANIEL SEKULICH

IBC Capital Markets has initiated coverage of Cameco (TSX: CCO; NYSE: CCJ) with an outperformer rating and a price target in the next 12-18 months of $37 for the Canadian uranium producer’s shares, while also taking a bullish view of uranium pricing.

“We expect nuclear energy, a scalable, low-carbon energy source, to be key in reducing global dependency on fossil fuels as efforts to curb climate change persist,” CIBC analyst Bryce Adams wrote in a research note in mid-January. “We believe Cameco offers investors Tier 1 assets, with premium jurisdictional exposure, a significant reserve base, a strong balance sheet and a reasonable valuation.”

Cameco’s Toronto-listed shares at presstime were trading at $25.69 within a 52-week trading range of $16.00 and $35.47, and Adams wrote that his $37 target for Cameco’s shares is based on 2.0x price to net asset value (P/NAV) that captures “the high quality of the company’s uranium assets, long mine life, low cost of production, strong balance sheet, and its standing as a go-to name among uranium producer and developer peers.”

Two other factors that have influenced Adams’ share price target are the possible resolution of Cameco’s ongoing tax dispute with the Canada Revenue Agency (CRA) and the potential restart of the company’s McArthur River mine, as well as fully ramped up production at its Cigar Lake operation, both located in northern Saskatchewan.

The decade-long troubles with the CRA relate to the company’s transfer pricing methodology, and Adams says the dispute has always had the potential to have a material impact on Cameco’s liquidity and financial position. However, in February 2021 the Supreme Court of Canada dismissed an application for appeal by the CRA for several

of the years in question (2003 and 2005-2006). This set a strong legal backing that Cameco’s tax practices are fully compliant with Canadian tax laws. As such, CIBC assumes a two-thirds probability of resolution between the CRA and the company, in favour of Cameco.

Adams also sees the potential restart of Cameco’s McArthur River operation, which the company shut down in 2018 due to low uranium prices. Adams notes that a “restart would be a commercial decision based on long-term contracts.” With strong supply and demand fundamentals, McArthur Lake could restart beginning in 2025, Adams said, though a nearer-term resumption of operations is possible if the current market environment proves more sustainable.

Cameco remains one the largest producers of uranium in the world, with about 12% of global primary production estimated for this year.

Adams expects Cameco’s market share to increase to 18% of global production by 2025.

Cameco’s assets are the Cigar Lake mine in northern Saskatchewan and the Inkai mine in Kazakhstan. Four other assets are currently suspended: the McArthur River/Key Lake operations and the Rabbit Lake mine, both located in Saskatchewan; the Crow Butte mine in Nevada; and the Smith Ranch-Highland operations in Wyoming. (The company also has processing facilities in Ontario.)

Looking ahead, Adams also points to the widely held view that nuclear power will be a critical part of the base load energy infrastructure required to achieve global net-zero targets.

Though renewable energy generation has become a much larger part of decarbonization goals, it has yet to displace fossil fuels. This gives nuclear power the potential to take on an important role as an energy source for electrical grids and create more demand for Cameco’s uranium to fuel those nuclear plants. “Our bullish thesis on uranium pricing is rooted

in strong macro factors driven by a path to net-zero with many hurdles enroute,” Adams said.

However, beyond limited highquality reserves, which could lead to the development of lower-grade deposits that require higher costs, he cautions that the biggest hurdle the uranium sector may face is the public perception of the safety of nuclear power, or the social stigma left in the wake of nuclear disasters like Chernobyl and Fukushima.

The global uranium sector was upended by the March 2011 Fukushima-Daiichi nuclear accident in Japan. Between 2011 and 2020, about 48 gigawatt-electric (GWe) of nuclear capacity was lost around the world as 65 reactors went offline or did not have their extensions renewed. The See CIBC / 15

BY HENRY LAZENBY

anadian explorer Searchlight Resources (TSXV: SCLT; US-OTC: CNYCF) is generating renewed interest in grassroots uranium exploration outside the established boundaries of the Athabasca Basin in northern Saskatchewan, chairman and VP exploration Alf Stewart tells The Northern Miner.

In October, the company announced high-resolution aeromagnetic and radiometric surveys on the company’s Kulyk Lake rare earth element (REE) project that had returned interesting values for uranium and thorium. The development about 165 km north of La Ronge, Saskatchewan, and 65 km south of the former Key Lake uranium mine, prompted a junior staking rush in an area not formerly considered as prospective for high-grade uranium the basin is famous for.

In September 2021, Special Projects Inc. of Calgary, Alberta, completed high-resolution aeromagnetic and radiometric surveys covering about 39 sq. km of the Kulyk Lake claims. The results outlined significant new thorium and uranium targets and several historical REE, uranium and thorium showings, said Stewart.

“Searchlight uses thorium as a pathfinder for REEs in the mineral monazite, which is the principal mineral in the known Kulyk Lake REE showing. The highest thorium value from the radiometric survey (5.3 parts per million) was located over the known Kulyk Lake REE trenches, which yielded historical assays of 56.18% total rare earth oxides (TREO),” said Stewart in

an interview.

Additionally, the radiometric survey identified the Kulyk Lake target as part of a larger anomalous thorium zone, at least 3 km in length.

“These are excellent results from the radiometric survey, highlighting the known Kulyk Lake trench area and tying it to a significant multikilometre thorium anomaly,” said Stewart. “The uranium results from the radiometric survey were equally positive, identifying a significant new, previously unknown uranium target and pinpointing known uranium showings, including the Eldorado showing with historical assays of 0.785% uranium trioxide (U3O8).”

The newly identified anomalous uranium zone has multiple high values, ranging up to 5.74 ppm, the highest uranium value of the survey.

Follow-up field work is being planned for spring 2022, but the preliminary data gives Stewart the confidence the company is on to something “extraordinary.” Searchlight completed additional staking at Kulyk Lake during July and October, expanding the claim block from 61.1 sq. km to 317.1 sq. km.

“And based on this radiometric survey, we’ve expanded our property to 300 sq. km and are now surrounded by uranium explorers. Purepoint Uranium (TSXV: PTU) to the north, Ross McElroy to the east, Skyharbor Resources (TSXV: SYH), and others are all in the area surrounding us. They’re now looking in the basement because they realize that the basement can also host extensive deposits,” said Stewart.

“The key question is, how close to the Athabasca basin do you have to be? And my suggestion is maybe See SEARCHLIGHT / 15

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FEBRUARY 7–20, 2022 / THE NORTHERN MINER

SPECIAL FOCUS URANIUM

Dev Randhawa says uranium has to be a part of electrification | Nuclear energy is coming back into vogue as a cornerstone of renewable energy

INTERVIEW

T

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CNSC okays Denison amendment of McClean Lake tailings licence | Mill has a licenced annual capacity of 24M lb. uranium oxide

PERMITTING

BY HENRY LAZENBY AND AMANDA STUTT

he continued industrialization and urbanization of the global economy have thrust energy security back to the fore. According to uranium industry doyen Dev Randhawa, founding chairman and CEO of Fission 3.0 Corp. (TSXV: FUU; US-OTC: FISOF), it creates a perfect storm to bring nuclear energy back into its critical role as the baseline power supply in a world increasingly reliant on unreliable renewable power sources such as solar and wind.

“If you simply take the math of how much electricity we need, how fast China and India are growing, and we want to electrify everything we can, it [uranium] has to be part of it,” Randhawa said in an interview.

“I’m seeing things I haven’t seen since I got into the business, like Bill Gates and Warren Buffett spending US$4.2 billion setting up a small reactor in Wyoming. Smart money — follow it — it’s been rushing into the nuclear space for some time now.

And it’s a small space,” he said. “If big money is coming into a small space, we’ve got a correction with uranium prices moving up.”

Bullish analysts believe the uranium market cycle has reached its bottom and that a break to the upside for uranium prices is supported by positive supply and demand fundamentals.

On the demand side, nuclear energy generated from 445 reactors around the globe supplies about 10% of the world’s energy requirements. China alone is constructing 16 new reactors, Russia is building three, with another 11 planned, and India has seven nuclear reactors under construction.

In September 2021, the spot price for uranium shot up to a nine-year high of US$50.80 per lb., ending a years-long slide that dated back to the days following the 2011 Fukushima Daiichi reactor disaster in Japan, which chilled global interest in nuclear power. (Since hitting an all-time high of US$136.22 per lb. in

Dev Randhawa, chairman and CEO of Fission 3.0 Corp. FISSION 3.0 CORP

June 2007, spot uranium prices since 2012 have traded under the critical US$50 per lb. level, and falling as low as US$18 per lb.)

Low uranium prices didn’t entice the world to build more nuclear power plants, Randhawa says.

Randhawa pointed to Germany’s faux pas in earmarking about a trillion U.S. dollars to establish a functioning solar and wind renewable energy grid.

“Wind and solar power amount to a ‘cruel joke.’ In Germany, it’s more than cruel, it cost them a trillion dollars, and they’re nowhere near complete,” said Randhawa.

“We simply can’t get where we need to go without nuclear representing.

The question is, ‘how do you bring your emissions down?’ We have been electrifying the world, yet new tech such as crypto alone, was using more energy two years ago than the world’s 50th largest country,” said Randhawa.

“Germany has kicked the can down so far, their emissions are up 25% since they’ve fallen back to using coal,” he said.

The longstanding uranium sector executive said uranium as part of the global nuclear energy supply chain is coming back into vogue as a sustain-

“NUCLEAR ENERGY IS INCREASINGLY CONSIDERED A GREEN INVESTMENT.” DEV RANDHAWA CHAIRMAN AND CEO, FISSION 3.0 CORP

able cornerstone of any renewable energy roadmap.

“Now, nuclear energy is increasingly considered a green investment.

And that has driven US$1.3 billion into a fund by Sprott, which buys physical. A lot of money has come into this space. The advent of small modular reactors, one being built in Wyoming by Gates and Buffett, has the potential to give nuclear a new edge,” according to Randhawa.

“We’ve seen spot uranium prices above US$30 per pound in recent months, but it’s not enough to stimulate the development of new mines,” he said.

“I don’t see how you can turn uranium mines back on other than in See RANDHAWA / 14

The McClean Lake uranium mill in northern Saskatchewan. DENISON MINES

T

BY MARILYN SCALES

he Canadian Nuclear Safety Commission (CNSC) has g ra nted permission to expand the McClean Lake tailings management facility (TMF), reported Denison Mines (TSX: DML; NYSE-AM: DNN). The uranium mine, mill and Jeb TMF are located within the eastern part of the Athabasca Basin in northern Saskatchewan.

The public hearing on the application to amend the current mine and mill licence was held in October. The amended licence is valid until June 30, 2027.

The McClean Lake mill has a licenced capacity of 24 million lb. uranium oxide annually. The plant treats ore from the Cigar Lake mine under a toll milling agreement of up to 18 million lb. uranium oxide each year. The mill is owned 22.5%

by Denison and 77.5% by the opera-

tor, Orano Canada.

Denison is considering the use of the McClean Lake mill as a regional treatment for uranium ore from the Gryphon deposit on its 95% owned Wheeler River project and The Heldeth Tue (THT) deposit (formerly J zone) at Denison’s 67% owned Waterbury Lake property.

The prefeasibility study for Wheeler River suggests it would cost $623 million to develop the deposit with a production rate of 7.6 million lb. uranium oxide annually over a mine life of 6.5 years.

The PFS for the Phoenix deposit, also at Wheeler River, estimated capex of $322.5 million for a mine with a ten-year life and output of 59.7 million lb. uranium oxide annually.

The Waterbury Lake PFS makes a capex estimate of $112 million to create a mine that supplies 1.6 million lb. uranium oxide yearly with about a six-year life. TNM

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SPECIAL FOCUS URANIUM

THE NORTHERN MINER / FEBRUARY 7–20, 2022

11

URANIUM SNAPSHOT EIGHT JUNIORS OF INTEREST

BY MARILYN SCALES

As the world moves away from fossil fuels, here are eight juniors on the hunt for what may be one of this century’s greenest metals. n APPIA RARE EARTHS AND URANIUM Appia Rare Earths and Uranium (CSE: API; US-OTC: APAAF) as the name suggests is hunting rare earth elements (REEs) as well as uranium in both the Athabasca Basin of Saskatchewan and Elliot Lake in Ontario. The company recognizes not only the potential importance of uranium in a decarbonized world, but also the fact that it frequently occurs with rare earths, another source of critical metals.

Appia’s Elliot Lake uraniumREE property includes 101 claims 3 km north of Elliot Lake. The property is also only 58 km northeast of Blind River, Ontario, where Cameco operates the world’s largest commercial uranium refinery.

Spurred by the necessities of the Cold War, uranium mines in Elliot Lake produced 362 million lb. of uranium oxide from 1955 through 1996.

The resources at Appia’s Elliot Lake project were last updated in 2013 and include two zones. Both zones are largely open along strike and down dip.

The Teasdale Lake zone has 14.4 million indicated tons grading 0.55 lb. uranium oxide per ton (for 8 million lb. uranium oxide) and 3.3 lb.

REE per ton (for 47.7 million lb. total REEs). The inferred portion is 42.4 million tons at 0.47 lb. uranium oxide (for 20.1 million lb. uranium oxide) and 3.14 lb. REE per ton (for 133.2 million lb. total REE).

The Banana Lake zone contains only an inferred uranium resource of 30.3 million tons grading 0.91 lb. uranium oxide per ton (for 27.6 million lb. contained uranium oxide).

Last year, Appia focused most of its exploration effort on its wholly owned Alces Lake REE property north of Lake Athabasca and about 34 km east of Uranium City.

Drilling returned high-grade intersections of total rare earth oxides (TREOs) and gallium. The company reported finding massive monazite outcropping at surface at the Ivan and Dylan zones.

The company also flew 944 line-km of versatile time domain electromagnetic (VTEM) surveys targeting high-grade uranium mineralization over its North Wollaston and Loranger uranium properties. These two properties are polymetallic. In the case of North Wollaston, there is potential for molybdenum and REEs as well as uranium; and at Loranger the hunt may lead to uranium, zinc, copper and molybdenum.

Appia has a third uranium asset in northern Saskatchewan, the Eastside property close to the Manitoba border. It too is polymetallic, having potential for molybdenum, copper, platinum group metals (PGMs) as well as uranium. The uranium occurrences at Eastside have geophysical features, structures and rock types similar to known high-grade uranium deposits, the company says.

In January, Appia staked an additional 27,291 contiguous hectares of a prospective claim block 50 km south of Fond du Lac, Saskatchewan. Named Otherside, the property has similar geologi-

Drilling at Appia’s Alces Lake high-grade rare earth project in northern Saskatchewan. APPIA RARE EARTHS AND URANIUM

cal and geophysical signatures to the Loranger property. Part of the Otherside claims were previously owned by Appia.

Appia has a market capitalization of $47.6 million. n AZINCOURT ENERGY Azincourt Energy (TSXV: AAZ; US-OTC: AZURF) makes uranium discovery its business. The company has three properties: East Preston and Hatchet Lake in northern Saskatchewan, and the Escalera uranium-lithium project in Peru.

The company owns over 70% of the 25,000 hectare East Preston exploration project situated in the western Athabasca Basin. Dixie Gold and Skyharbour Resources each have a 15% interest. East Preston is strategically located near NexGen’s Arrow deposit, Fission Uranium’s Triple R deposit, and the Spitfire joint venture of Cameco, Orano and Purepoint.

The East Preston project has multiple, classic targets for basement-hosted unconformity uranium deposits. Azincourt drilled conductive corridors along several zones last year, but no results were released. The work confirmed that geophysical conductors are structurally disrupted and host graphite, sulphide and carbonates.

Anomalous radioactivity was recorded.

The construction of the winter exploration camp at Snoop Lake for the East Preston project began in January. The drill program will also prioritize the disrupted zones previously identified. Azincourt is also engaged in regular meetings with the Clearwater River Dene Nation and other rights holders as work proceeds at East Preston.

Hatchet Lake is located in the northeast extension of the Western Wollaston domain, again in the Athabasca Basin. The property is adjacent to the northeast margin of the basin on-trend with other uranium deposits and within 30 km of the Eagle Point mine owned by Cameco.

Azincourt is earning a 75% interest in Hatchet Lake from ValOre Metals. Two high-priority targets — Upper Manson and SW Scrimes zones — have been identified. Sampling done by owner ValOre Metals returned assays as high as 2.42% uranium oxide.

The Escalera Group in southeast

Peru is 100%-owned. It consists of three concessions — Lituania, Condorlit and Escalera — covering a combined area of 7,400 hectares.

Eleven of the best grab samples collected in 2018 assayed up to 0.12% uranium oxide.

Azincourt Energy has a market cap of $38.7 million.

n BASELOAD ENERGY Baseload Energy (TSXV: FIND; US-OTC: BSENF) has a 100%-interest in three prospective projects — Hook, Catharsis and Shadow — near the southeast rim of the

See URANIUM / 12

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TSX.v BSK OTCQB:BKUCF FSE:MAL2

Leading Uranium Discovery In Argentina NI 43-101 compliant uranium resource • Controlling A New Uranium District • Preliminary Economic Assessment complete • Heathy Treasury • Comprehensive drilling program and engineer studies underway

Blue Sky Uranium Corp. (TSX.V: BSK) is a leader in uranium discovery in Argentina.

The Company’s objective is to deliver exceptional returns to shareholders by rapidly advancing a portfolio of uranium-vanadium projects into low-cost producers, while respecting the environment, the communities, and the cultures in all the areas in which we work. The Company’s flagship Amarillo Grande Project was an in-house discovery of a new district that hosts the largest NI 43-101 uranium resource in the country with an initial Preliminary Economic Assessment.

12

SPECIAL FOCUS URANIUM

FEBRUARY 7–20, 2022 / THE NORTHERN MINER

Standard Uranium has three properties in the eastern Athabasca Basin region. STANDARD URANIUM

URANIUM from 11

Athabasca Basin.

The Hook project is located 40 km southeast of the McArthur River uranium mine owned by Cameco and Orono, and 60 km northeast of the Key Lake uranium mill, both of which are owned by Cameco and Orono. It was at Hook that Baseload made the Ackio highgrade uranium discovery last year.

Assays from the first drill hole at the target returned 0.5 metre grading 1.29% uranium oxide at 138.8 metres below surface and 0.5 metre grading 0.66% uranium oxide at 142.2 metres. The primary mineralized zone measures 15.5 metres thick grading 0.13% uranium oxide starting at 134.3 metres below surface. A second drill hole returned 0.5 metre grading 0.67% uranium oxide at 131.6 metres. Elevated uranium concentrations were also intersected in two additional holes: 5.5 metres grading 0.24% uranium oxide at 128.6 metres and 2 metres grading 0.24% uranium oxide at 99 metres.

Baseload says the drill core from Ackio is visually similar to other basement-hosted uranium deposits in the Athabasca Basin, and the discovery hole appeared similar to the Arrow deposit at the Rook I project that belongs to NexGen Energy.

Drilling at Ackio is in the early stages, but the company is beginning a 10,000-metre diamond drill program this winter. An initial resource estimate could follow later in the year.

Baseload is also planning to drill this year at its Catharsis property, 60 km south of the Athabasca Basin margin and 75 km southwest of the Key Lake mill. Numerous highgrade uranium surface showings have been made, and an airborne versatile time domain electromagnetic (VTEM) survey is to be completed in the first quarter, followed by 3,500 to 5,000 metres of drilling.

The Shadow project in the

Virgin River shear zone will be the site of an airborne gravity survey beginning in the second quarter. The company is looking for potential basement-hosted deposits. Baseload is consulting with Indigenous communities about a possible drilling program there.

Baseload Energy has a market capitalization of $58.8 million. n CANALASKA URANIUM CanAlaska Uranium (TSXV: CVV; US-OTC: CVVUF) had active uranium drilling programs last year at Waterbury, West McArthur and the Moon joint venture, all of which are located in Saskatchewan.

It also drilled for copper at Quesnel, British Columbia, for nickel at Manibridge, Manitoba, and mounted ground exploration for diamonds in the northwestern Athabasca.

Waterbury is subdivided in the East property along the Cigar Lake corridor and the South property along the Rabbit Lake Fault.

CanAlaska made a new polymetallic discovery at Waterbury South in the winter of 2021 at the unconformity of the clastic sediments and basement rocks.

Hole WAT-009 returned the best intersection of 405 parts per million (ppm) uranium, 2.42% nickel, 0.5% zinc, 0.4% lead, 801 ppm cobalt, 3.9 ppm silver, and 2.34% arsenic at about 349 metres in the basement rocks. The same hole returned several other intersections including 0.5 metre grading 84 ppm uranium in sandstone, and in the basement rocks, 64 ppm, 200 ppm and 68 ppm uranium.

Terra Uranium has an option to earn up to an 80% interest in the McTavish and Waterbury East project, as defined by three earnin stages. The Australian company will fund A$5 million ($4.5 million) in exploration with CanAlaska as operator until Terra’s interest reaches 60%, then the operator will be Terra. The option calls for deliv-

ering and filing a JORC compliant resource of at least 30 million lb. uranium oxide on either property and granting CanAlaska a 2.25% net smelter return royalty.

The Cree East uranium property is 35 km from the Key Lake mill and hosts a large unconformity uranium deposit. Nine targets have been selected using versatile time domain electromagnetic (VTEM) data with the A and B zones being the most promising.

In July 2017, CanAlaska bought out its joint-venture partner and is now seeking another partner for the project. Drilling in 2010 through 2012 intersected a large alteration zone of anomalous polymetallic enrichments.

CanAlaska completed numerous airborne and ground geophysical surveys at the West McArthur uranium discovery from 2005 to 2012.

Cameco was granted an option on the property and began drilling in 2016, discovering the 42 zone the following year. CanAlaska (74% and operator) and Cameco (26%) formed a joint venture in 2019 to further test the potential.

West McArthur has several very large unconformity targets with large haloes between 700 and 900 metres below surface. A 5,000-metre summer drill program fully funded

by CanAlaska began last August.

Hole WMA063-1 returned 1.7 metres averaging 0.17% uranium oxide and 10 metres averaging 0.76% uranium oxide, including 2.6 metres at 1.62% uranium oxide.

The joint venture has approved a $5 million exploration program at West McArthur for this year. Work will focus on the 42 zone area, a newly identified alteration and structure along the 2-km southwest extension.

CanAlaska took an option on the Key Extension property in September 2021. CanAlaska can earn a 100% interest from Durama Enterprises over a four-year period.

The agreement includes payments

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Trench Metals’ Higginson Lake uranium project in the Athabasca region of Saskatchewan. TRENCH METALS

Core from the Dasa uranium project in Niger. GLOBAL ATOMIC

of $50,000, the issuance of 300,000 CanAlaska shares, and completion of work totaling $850,000.

Work permit applications have been submitted to the province for the 2022 field season. A ground gravity survey along the Key Lake corridor, regional prospecting, and reinterpretation of a historical VTEM are planned. Targets will be chosen for drilling in late 2022.

CanAlaska has a portfolio of 11 other uranium properties scattered around the Athabasca Basin and is seeking joint-venture partners for most of them.

When not hunting uranium, CanAlaska explores for nickel in Manitoba’s Thompson Nickel Belt.

This year drilling is planned at the Manibridge nickel property on a new high-grade discovery 2 km north of a past-producing nickel mine. A staged option agreement with D Block Discoveries has been granted.

The company is also active at copper projects elsewhere in northern Manitoba and in British Columbia. In addition, CanAlaska holds three claims with kimberlite potential north of Patterson Lake, Saskatchewan.

The market capitalization for CanAlaska Uranium is $39.6 million. n GLOBAL ATOMIC Global Atomic (TSX: GLO; USOTC: GLATF) is the 90% owner of the Dasa uranium project under development in Niger. (The government of Niger holds the remaining 10% stake.) Global Atomic began exploration in 2007, and last year completed a feasibility study.

The mining permit and environmental compliance certificate were also received in 2021.

Not only was the company busy with feasibility and permits last year, but it also ran a successful pilot plant, signed a marketing agreement, engaged advisors to assist in project debt financing, and made a production decision.

CMAC-Thyssen was hired to collar the portal and begin underground development.

Meanwhile, Global Atomic embarked on a 15,000-metre drill program to increase phase one resources and update phase two resources. The best recent hole of this program returned 65 metres grading 5.49% uranium oxide including 12.5 metres grading 14.24% uranium oxide.

The feasibility study outlined a high-grade, long-life project with

the first phase of production that carries a 12-year mine plan. It would produce a total of 45.4 million lb. of uranium oxide — 4.7 million lb. annually in years 2 to 8, and 2.3 million lb. in each of years 9 to 13. The average all-in sustaining cost is estimated to be US$21.93 per lb. yellowcake.

According to the feasibility study, resources at Dasa stand at 25.6 million indicated open pit tonnes grading 1.71% uranium oxide and 710,000 indicated underground tonnes grading 3.25% uranium oxide. The total indicated resource contains 101.6 million lb. uranium oxide.

The inferred resource includes 18.9 million open-pit tonnes grading 1.36% uranium oxide and 3.4 million underground tonnes grading 4.15% uranium oxide. The total inferred resource contains 87.6 million lb. uranium oxide.

The initial capital requirement is US$207.6 million, split US$61.9 million for mine development, US$143.2 million for the processing plant, and $2.6 million for the tailings management facility.

Sustaining costs would be another $137.3 million. Payback would be achieved three years after production starts in 2024, assuming a uranium price of US$35 per pound.

The after-tax net present value with an 8% discount rate at Dasa is US$157 million, and the internal rate of return is 22.7%.

Global Atomic says it will minimize carbon emission from Dasa by using solar power to supplement the project’s energy needs and by the use of battery-electric mining vehicles.

The company also maintains a 49% stake in the Befesa Silvermet operation In Turkey, which recovers zinc from local furnace dust and waste from local steel mills. A new Waelz kiln was commissioned in 2019 and produces about 50 million to 60 million lb. zinc annually in a 70% zinc concentrate. This operation provides cash flow to the company, allowing it to pursue the Dasa project and six exploration projects in Niger.

Global Atomic has a market cap of $567.5 million. n ISOENERGY IsoEnergy (TSXV: ISO) has over 20 uranium exploration properties scattered around the eastern and southern regions of the Athabasca

See URANIUM / 13

SPECIAL FOCUS URANIUM

GLOBAL MINING NEWS

CanAlaska’s West McArthur project site in Saskatchewan. CANALASKA URANIUM

URANIUM from 12

Basin. Chief among them is the 100%-owned Larocque East project, home of the high-grade Hurricane discovery. This property was acquired in May 2018.

The Hurricane zone was first identified two months later when the discovery hole returned 8.5 metres grading 1.26% uranium oxide, including 2.5 metres grading 3.58% uranium oxide. Mineralization was intersected about 325 metres below surface. Drilling completed last year continued to return highgrade intersections from relatively shallow depths. Initial assays included 12 metres grading 5.2% uranium oxide, including among other higher grades, a 2 metre section assaying 27.6% uranium oxide in hole LE21-78C1.

Additional highlights from the program included 0.5 metre grading 0.1% uranium oxide and 3.5 metres grading 2.3% uranium oxide, including 2 metres grading 4%, including 0.5 metre grading 9% in hole LE21-80; 0.5 metre grading 0.2% uranium oxide and 4.5 metres grading 0.9%, including 1 metre grading 1.4% in hole LE21-82; and 3 metres grading 0.5% uranium oxide, including 0.5 metre grading 1.9% in hole LE21-84.

The initial assays also identified the presence of nickel. The highest nickel occurrence was 16.2% over 1.4 metres in hole LE21-82. The three other holes returned 0.1% to 1.1% nickel along their lengths.

The known mineralization at Hurricane extends over a 1 km strike length and is 12 metres thick and 93 metres wide in an unconformity-hosted deposit. It is just 40 km from the McClean Lake mill owned

by Orono, Denison and OURD Canada. The property has no lake or water cover.

IsoEnergy’s other uranium exploration properties in Saskatchewan include Geiger, Collins Bay Extension, Thorburn Lake, and Radio.

Last year it drilled 4,200 metres in 12 holes at the Geiger property, 20 km from the McClean Lake mill. It also flew an airborne geophysical survey over the Collins Bay Extension.

The company has launched a winter exploration program that includes 11,900 metres of diamond drilling at Larocque East to expand the Hurricane zone and ground geophysical surveys at Geiger, Ranger and Hawk.

Late last December, IsoEnergy divested its Mountain Lake uranium property in Nunavut under terms of an option agreement with Consolidated Uranium. This property had a historical inferred resource of 1.6 million tonnes grading 0.23% uranium oxide for 8.2 million contained pounds.

The market capitalization of IsoEnergy is $359.8 million. n STANDARD URANIUM Standard Uranium (TSXV: STND; US-OTC: STTDF) is exploring northern Saskatchewan for high-

grade deposits. The wholly owned flagship Davidson River project lies near the southwest rim of the Athabasca Basin. It covers a potential extension of the structural trend that hosts Fission Uranium’s Triple R deposit and NexGen Energy’s Arrow deposit.

Standard completed the phase two summer drill campaign last year at Davidson River, but assays were unavailable at press time. The company did say that hole DR-21022 from 330.5 to 331 metres had radioactivity measured by a handheld scintillometer of 700 counts per second (cps). Six other halfmetre intersections returned 310 to 560 cps, the highest of which came from hole DR-21-017 at about 461 metres below surface.

The company intends to drill the four trends — Thunderbird, Bronco, Warrior and Saint — this summer. The Bronco and Thunderbird trends have several untested geophysical targets remaining. The work is fully permitted, and the company says that local First Nations have been engaged with the project.

The 100%-owned Sun Dog uranium project is on the north rim of the Athabasca Basin near the historic Uranium City area. Historical work included airborne and ground surveys, underwater and lake bed surveys, and wide-spaced reconnaissance drilling. The drilling returned 0.1% uranium oxide over 1 metre within graphite-rich basement rocks. A site visit in 2020 confirmed historical surface showings that returned grab samples of 3.58%, 1.7% and 0.7% uranium oxide.

The 2022 Sun Dog work will include a ground gravity survey, follow-up mapping, geological work on surface, and continuing community engagement. The inaugural drill program is scheduled for winter 2022.

The Atlantic, Canary and Ascent properties (all 100%-owned) collectively make up what Standard Uranium calls the “Eastern Basin” projects for their location on the east side of the Athabasca Basin. Based on the success of nearby exploration programs such as IsoEnergy at its Hurricane deposit, the company believes these properties could be targets for future drill testing.

Standard Uranium has a market cap of $22.7 million. n TRENCH METALS Trench Metals (TSXV: TMC) is exploring for uranium deposits, the latest of which, Higginson Lake, covers 2,312 hectares about 52 km northeast of Stony Rapids, Saskatchewan. Trench Metals was granted an option to acquire 100% of the project in October last year.

The property hosts two historical areas of mineralization: the Corrigan Lake showing and the Higginson Lake showing, about 550 metres northwest of the Corrigan Lake showing. Previous owners estimated resources containing

THE NORTHERN MINER / FEBRUARY 7–20, 2022

A drill crew, staff and elders from Patuanak at CanAlaska’s Cree East uranium property in northern Saskatchewan’s Athabasca basin. CANALASKA URANIUM

Drill rig at Azincourt’s East Preston exploration project in northern Saskatchewan. AZINCOURT ENERGY

4.4 million lb. uranium oxide at Corrigan Lake and 400,000 lb. uranium oxide at Higginson Lake.

Trench Metals is reviewing the historical data and observations ahead of an exploration program.

Trench owns 100% of the Gorilla Lake property in the heart of the Athabasca Basin near the former Cluff Lake uranium mine, which operated from 1981 to 2002 and produced over 62 million lb. of yellowcake. The closed mine is now owned by Orono.

Drilling in the mid-1970s by previous owners at Gorilla Lake intersected two zones of mineralization.

One zone returned 7 metres grading 0.17% uranium oxide, including 1 metre grading 0.82% uranium oxide. The second hole returned 2 metres grading 0.20% uranium oxide.

The summer 2021 exploration program saw the team clear access to the site, select radioactive boulders, and take rock and drill samples for analysis at the Saskatchewan Research Council.

The highest scintillometer reading observed from the samples was 4,400 counts per second (cps).

Assay results are pending.

The market cap of Trench Metals is $33.5 million. TNM

www.western-uranium.com

13

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FEBRUARY 7–20, 2022 / THE NORTHERN MINER

RANDHAWA from 10

Kazakhstan and maybe at highgrade assets like McArthur Lake in Canada. There are very few mines, I believe, where all the costs come in, and you get a return,” said Randhawa.

The real question is, what’s the incentive price for new development? Rick Rule has estimated the average cost of being in production is about US$75 per lb. — he said US$70 is where the market needed to be to turn on some of the mines in the U.S. However, according to Randhawa, the overall thesis for investing in uranium has not gone away and has intensified.

While the world seems to have thawed to some extent to using nuclear as part of the sustainable energy mix, power utilities have been quietly starting to ramp up long-term contracting activity.

“Yes, we have seen some return to contracting, and I think we’ll continue to see more,” said Randhawa.

The World Nuclear Association’s (WNA)’ Nuclear Fuel Report:

Global Scenarios for Demand and Supply Availability 2021-2040’ forecasts 2.6% annual growth in nuclear generation capacity over the next two decades.

UxC estimates that by 2030 about two-thirds of utility nuclear fuel requirements will not be covered by contracts, and this will reach 81% in 2035.

“The lack of new uranium projects coming online is a considerable part of this equation. As utility inventories decline, they will come to a market willing to accept higher contract prices to replenish their energy fuel stock, and secure future supply lines may happen sooner than later. Much higher long-term contract prices will, in turn, bring uranium spot prices along for the ride,” the report stated.

“That’s a key piece,” said Randhawa. “It is one thing for financial groups to buy uranium in the open, but we need the contracting, and I’ve seen more and more proposals sent out. And I think that will maintain to get us back where we’re at the US$55 to US$70 per pound level.” TNM

SPECIAL FOCUS URANIUM

EDITORIAL from 4

in the fuel market? Well, obviously demand side is growing, we saw that from the WNA report. I think they probably conservatively show a 2.6% growth over the next number of years. That doesn’t include any of the advanced reactors, SMRs. So that’s good. Demand growing.

We wanted to see that. If we don’t have that then the industry is in a tough spot, but we’re finally seeing that again.

So then you look at supply, and what happened in 2021 to supply?

Well, we opened the year in January with the Ranger mine in Australia; the thing ran for thirty years, shut down. Run out of ore. Done. They’re decommissioning it now. It’s gone.

Cominak in March. Niger. I used to look after that mine. Gone. Done.

Ran out of ore. Finished. So, supply is going down.

Our supply curtailments [at Cameco] continue. We had some Covid issues at Cigar Lake at the start of the year. Seeing some end of reserve lives. Even the Cigar Lake mine. I mean you’ve got 18 million lb. a year,

“I CAN TELL YOU FROM THE PEOPLE THAT ARE IN THE HALLS, THERE’S EXCITEMENT IN THE HALLS AT CAMECO AND IN THE NUCLEAR INDUSTRY GENERALLY.” TIM GITZEL PRESIDENT AND CEO, CAMECO

when we’re running, coming out of there, and you know that runs out of reserves phase 1 at the end of the decade. And at a time when we’re just starting the reactor growth and building these reactors. So there’s a day of reckoning coming that’s going to be pretty exciting in the business.

And then you add in all the extraneous factors in there. We have inflation. We have supply chain issues.

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You’ve got geopolitical issues coming up. So you add those to the mix. And then maybe most interesting is, in August, you have a group show up, called SPUT [Sprott Physical Uranium Trust], I think they showed up with $300 million dollars and said: ‘we’re going to buy physical uranium.’ People yawned a bit at that, and said, well that’s not that much uranium. I think the price was in the twenties. So, they started buying. That was interesting. And then there was some piling on. Yellowcake, Kazakh, Denison, UEC, others, buying physical uranium. And then SPUT ups its $300 million to I think it was, $1.2 billion, and said, ‘we’re going to keep on buying it, and we’re putting it away, we’re sequestering it, and it’s going to be gone.’

So you say okay, that’s starting to get interesting. You see the price moving a bit more. And, of course, we’re doing some buying at the same time. And now they’ve [SPUT] come out and I think they’re at over $3 billion with their fund. And they’re at the market futures and they’re buying physical uranium. And that kind of gets us to where we are today. And it’s a bit of a perfect storm. I think spot this morning is around US$45 and it’s been up to US$50 but it seems to have a floor in the forties somewhere. I think the days of the twos and threes on uranium prices are gone. I think we’ve got a lot more upside. So we think the transition is sustainable. We think there’s more to come in the years ahead.

I’d just like to say a few words about Cameco. What have we been doing? Well, we’ve been doing a lot of heavy lifting and I give our people credit, the ones that are still with us. We’ve had to reduce the workforce over the last five years. We’ve been on a strict supply discipline program. In April of 2016, we shut down Rabbit Lake, we shut down our Wyoming operations, we shut down Nebraska, we pulled back on McArthur, and then in December 2017 we shut the largest high-grade mine in the world now, McArthur River, 18 million lb. a year, because we said somebody had to do something different. Somebody had to show some courage. We liquidated our inventory and we went out and started purchasing pounds to put in our contracts. So that’s been our strategy. It hasn’t been easy from a company perspective. We’ve made a difference of about 190 million lb. between our leaving pounds in the ground, purchasing, and running down our inventory.

The company remains very strong.

We have great projects: Cigar Lake up and running; JV Inkai has gone through a tricky period but seems to have come out and is running well for us. Our fuel services are running very well for us. We’re taking advantage of the time now at Key Lake and McArthur, when our operations are down, to add some new technology, add some digitization to it, we want to make it more efficient, more effective, more flexible, and so we’re spending some money up there. The mill was built back in the 80s, and we’ve kept it upgraded since then, but we felt we had a real opportunity to get it ready for the day when we are ready to bring it back into operation. We haven’t made any decision on that, but we want to be ready.

Our balance sheet is strong. We’ve got over a billion dollars cash on the balance sheet and we’re waiting for our friends at the CRA [Canada Revenue Agency] to send us back the $777 million they owe us after a drubbing at the Supreme Court level and so that battle continues. So that’s a bit of a snapshot of where we’re at.

I’ll just say it’s exciting times for us and I think a lot more to come in the days to come.” TNM

www.northernminer.com

GLOBAL MINING NEWS

SPECIAL FOCUS URANIUM

THE NORTHERN MINER / FEBRUARY 7–20, 2022

15

Kulyk Lake sits in the Wollaston Domain, a belt of crystalline basement rocks which are the basement rocks underlying most of the uranium mines in the eastern Athabasca Basin. SEARCHLIGHT RESOURCES SEARCHLIGHT from 9

people have been sticking too close to the boundaries of the Athabasca Basin, and potentially basement, but deposits could exist anywhere within the Willeston belt, not just right at the fringes and under the Athabasca cover.”

Stewart explained that Searchlight was incorporated on January 21, 2000, as a Nevada corporation and migrated to Canada on May 31, 2013.

The company has been involved primarily in the acquisition of its mineral properties and the exploration and development of its U.S.-based mineral properties and subsequently of its Canadian properties.

Through the hawk-eyed surveillance of the Saskatchewan assessment files, company president and CEO Stephen Wallace could stake the Kulyk Lake claims knowing that some of the highest TREO grab sample grades globally were historically found on the property.

“This project has some of the highest-grade rare-earth assays globally at over 50% rare earths and it’s never been drilled,” said Stewart.

The REEs, the uranium and thorium values report to a monazite mineral at Kulik Lake.

According to Stewart, the aeromagnetic and radiometric surveys flown

by Special Projects were designed to detect high-grade uranium at the surface. This was the same technique used by the contractor that led to the discovery of high-grade uranium boulders at Fission Uranium’s (TSX: FCU; LSE: 0UW4) flagship Patterson Lake South (PLS) project, which also extended the southwestern margins of the Athabasca Basin.

PLS was discovered because of a Special Projects group boulder survey, which ultimately led to finding the mineralizing structure in the basement. And that led to the discovery of NexGen Energy’s (TSX: NXE; NYSE: NXE; ASX: NXG) Arrow deposit, which is also on strike with PLS. “It all comes back to surface radiation surveys,” said Stewart.

The data points to Searchlight having a 2 km-long by 500-meter wide area of high-grade surface uranium spikes just off to the southwest from Kulyk Lake. “There is no known uranium occurrence. There’s no drilling, no trenching, nothing. This is a brandnew surface discovery of uranium, and we’re directly measuring radioactivity from uranium. So, it may be aggressive to call it a discovery when we haven’t even been on the ground. But that’s what we’ve got,” said Stewart.

The discovery of PLS resulted from a joint venture between Alpha Minerals and Fission Uranium, which shared the project management on a year-by-year basis. Alpha Minerals is a sister company to Searchlight, with Ben Ainsworth on the board of directors. He won the Prospectors and Developers Association of Canada’s Prospector of the Year award jointly with Ross McElroy for the discovery of PLS. He was the chairman of

Searchlight Resources until he passed away in 2017.

Stewart said the difference with Kulyk Lake was that the initial discoveries in the Athabasca basin area from the late 1960s and early 1970s, such as Rabbit Lake, Midwest Lake, Key Lake, were unconformity deposits. But PLS and the Arrow deposit are not unconformity deposits; their basement structures are in the older crystalline basement under the Athabasca basin.

Perhaps the closest comparable for the emerging Kulyk Lake discovery is the former Eagle Point mine, which was mined for about 20 years and a basement-hosted deposit.

“And we’re just on strike off to the southwest. We’re off the main hunting ground for unconformity deposits. We’re just far enough away that there’s never even been any drilling for uranium or rare earths on our property that we can find in the recorded work,” said Stewart.

“I find that astounding we’re 65 km south of Key Lake uranium mill, conceptually, within trucking distance of a mill. We’re out in this Willeston domain’s highly metamorphosed metasediments, looking for rare earths, and we stumbled on a major uranium showing at least from our geophysics. And since we’ve found this, we weren’t looking for uranium, but uranium took off sort of in parallel with our survey. And now this looks like the most exciting thing in our portfolio,” he said.

Searchlight owns Kulyk Lake 100% with no royalties.

“What they found with their radiation survey was boulders at the surface, and they had been pushed by a glacier more than 2 km from the structures in the basement. At Kulyk Lake, we see very shallow overburden, more of a typical Canadian Shield style, three to four feet of overburden.

The difference between Kulyk Lake and PLS is the overburden around Patterson Lake is 50 meters thick.

And the actual strongest anomaly is along a ridge, which is 50 meters high and a big rocky hill in Saskatchewan.

I don’t think we’re going to be tracing boulders. We think we’re trying to probably find some high-grade vein in situ at the surface,” said Stewart.

While uranium generates more interest, Kulyk Lake’s rare earth potential is also significant. “We’ve also found a potential 3-km-long thorium anomaly that must be prospected. The showings contain neodymium and praseodymium, and a little bit of dysprosium. Those are the elements used in regenerative braking systems in electric vehicles. So, we have a double-barrelled opportunity at Kulyk Lake for both rare earths and uranium,” said Stewart.

“We’re formulating our plans right now. We’re going to have boots on the ground as early in the season as practical — as soon as the ground is sufficiently dry and snow-free — probably mid-April to the latest midMay. And we’ll be generating news,” said Stewart. TNM

Cameco’s suspended McArthur River uranium mine in northern Saskatchewan. CAMECO

CIBC from 9

impact on the uranium sector was dramatic.

“The shock to demand, right after a price spike driven by the Chinese entering the uranium market in 2010 for their own reactor requirements, created a period of complacency that proved detrimental to uranium prices,” Adams wrote.

Nevertheless, the mining analyst points out that market fundamentals have shifted, and new financial

players have entered the sector, helping to reverse the excess supply and inventory that suppressed market fundamentals for the better part of the last decade.

CIBC now forecasts a “near-term market deficit” and a spot uranium price of about US$50 per lb. in 2022 increasing to US$55 per lb. in 2024.

Based on data from nuclear industry analyst UxC, CIBC expects that China will add 14 reactors in the next three years to its existing 51 and have some 103 nuclear reactors by 2030.

The United States, South Korea and Pakistan, among others, are also expected to increase their electrical generation using nuclear power.

“Nuclear power is still projected to be the low-carbon base-load technology with the lowest expected ingoing fuels costs,” Adams commented, adding that, “technologies such as small-modular reactors (SMRs) are showing promise in terms of reducing upfront capital costs, while gradually changing perception about the safety of these operations.” TNM

ADVANCING ALONG THE ROAD TO U3O8 PRODUCTION! The Dasa Project is: • the largest, highest-grade uranium deposit discovered in Africa in the last 50 years • fully-permitted and strongly supported by local government and communities • benefitting from existing infrastructure and a local trained workforce • economically viable with AISC cost of US$21.93/lb as per the recent Feasibility Study • supported by cash flow from the Company’s zinc recovery business • currently excavating the box cut to access the planned underground mine • on track for U3O8 production for the end of 2024

TSX:GLO, OTCQX:GLATF, Frankfurt:G12

16

WWW.NORTHERNMINER.COM

FEBRUARY 7-20, 2022 / THE NORTHERN MINER

ESG from 3

nity impacts, and environmental impacts with social repercussions are all growing in importance also.

5 Social risk integration in Enterprise Risk As scrutiny of mining’s social impact and the risk of negative repercussions for companies grow in tandem, so does the pressure for mining companies to effectively weave social risk into enterprise risk management systems. Though ESG is frequently recognized as a top industry risk, a recent Responsible Mining Foundation report indicated that this is still a significant area of weakness for most companies. Nonetheless there is growing recognition of social performance as a technical discipline with specific skill sets; overnight ESG experts, public relations/communications practitioners, or co-workers with ‘great people skills’ are no longer a good stand-in for trained and experienced social management practitioners.

6 Diversity, Equity & Inclusion (DEI) Expands Mining DEI has grown through 2021, from site to the board room and across supply chains. Headlines about Western Australia’s parliamentary inquiry into sexual harassment in fly-in-fly-out mining reverberated globally, as did McKinsey’s article on why women are leaving the mining industry.

Meanwhile, from California to Germany, controversial board gender parity legislation has been crop-

ping up. And DEI requirements are moving beyond gender. The U.S. Securities and Exchange Commission (SEC) approved NASDAQ’s proposal requiring the majority of listed companies to have on their board at least one woman and at least one person identifying as an underrepresented minority or LGBTQ. Asset managers are increasingly seeking disclosures on racial and ethnic diversity and inclusion, and Institutional Shareholder Services (ISS) and Glass Lewis both issued related updates to their respective proxy voting policies. Companies are taking note — a recent World Business Research study found that 79% of organisations across a variety of industries are planning to increase DEI budgets and resources this year, compared to last. Is yours?

7 Recalibration of the employer-employee relationship In the context of mining’s talent crisis, the industry needs to confront the changing employer-employee dynamic and how mining is perceived by prospective talent pools, local and global. Maintaining a positive workplace culture and paying well no longer cut it. Prospective employees expect companies to address a range of social concerns, take action on inclusion and equity, provide for work-life balance, and navigate the changing relationship with work. This includes preparing for Gen Z and responding to the issues driving the “Great Resignation.” This also means meeting expectations to take a position on

divisive social and political issues that (re-)surface in the future. Done well, public statements help to position companies as authentic ESG leaders. But without meaningful commitments and action, corporate social activism risks being heavily scrutinized, poorly received, and reputationally risky.

8 Rise of mental health in OHS Although psychological ill-health is the costliest area of occupational health and safety (OH&S), few companies have any in-house expertise in this area. The HR Research Institute found that 64% of human resources (HR) professionals agree that mental health is a top five human resources priority. It also found that the most likely cause of employee stress are problems related to work/life balance and heavy workloads, a common issue in many industries over the past year. Growing awareness of mental health during the Covid-19 pandemic coincided with the June 2021 release of ISO 45003, which provides guidance on how to manage psychosocial risks in the workplace, a key human resources topic on which accelerated progress is likely in 2022.

9 Standardization of ESG Although MSCI noted that 34 regulatory bodies and standard setters were undertaking official consultations on ESG in 2021 alone, there is a clear trend of convergence in many core areas. Standardized reporting is imminent. Companies that have struggled to navigate the lack of

consistent measures to report on in recent years can look forward to the International Sustainability Standards Board (ISSB) by June 2022, combining the IFRS Foundation with the Climate Disclosure Standards Board (CDSB, a Carbon Disclosure Project initiative) and the Value Reporting Foundation (created after the merger of SASB and the Integrated Reporting Framework). It will remain crucial to keep an eye out for regionally specific differences however, where there are signs of further fragmentation.

10 Social sustainability-linked financing Growing awareness of the interconnections between environmental and social factors is likely to prompt more sustainability linked financing with both social and environmental goals. Headline announcements such as Newmont’s US$1 billion sustainability linked bond and Teck Resources’$4 billion sustainability linked revolving credit facility are likely to become more common.

As sustainable finance taxonomies become ever better defined, it will become clearer how companies are expected to contribute to and disclose on social objectives, as this becomes law in areas such as labour rights, human rights, and diversity.

Efforts are underway to add a social framework to the new EU Sustainable Finance Taxonomy, which will guide private sector contributions to social outcomes and support more corporate bonds with social targets.

Future-ready executives realize that people, risk, and access to capi-

ODDS ‘N’ SODS from 5

I’m staying and at 6ft 1 I’d be easy to find in Sana’a where the average height is about 5ft 6. It’d take him five minutes to track me down and introduce me to his fully automatic recruitment guarantee.

The rest of the day went the same way. Every 40 minutes Don called in another geologist who’d walk in armed to the teeth, clanking and banging as he stacked his weaponry on the desk, while Yasar and I nervously shuffled our notes. When their time was up, they’d stuff the weapons back into various pockets and holsters, belt their Jambiya, and leave with a polite goodbye.

In the end we arrived at a list of geos we wanted to hire, and I left the daunting task of informing the unlucky rejects to Don. Good old Don. Oh, and the project was a bust.

A year or so later, I was given a couple of month’s notice by my employer, Anglo American, that I was being moved to their concrete and glass head office along Carlton House Terrace in London, England.

Most of the major mining companies had offices in London. Rio Tinto, BHP, and a couple of U.K.based coal miners were located near Anglo’s head office in St. James, just off Trafalgar Square. It’s a lovely, historic part of London to work in if you can put up with the hordes of tourists who come to gawp at Buckingham Palace, and then stroll around the lake in St. James Park chucking stuff at the pelicans.

I worked directly for Anglo’s global head of base metal exploration. Mine was a jack of all trades role — budgets, liaising with the regional offices, reporting, and so on — that involved a certain amount of networking with the other mining companies. For example, for a brief time, I was Anglo’s representative on the U.K. “chapter” of the International Seabed Commission. I would sit around an enormous wooden table in the Foreign Office building, nodding sagely in meetings at the Foreign Office like I knew what I was talking about (I didn’t).

Another hat I wore was to repre-

Ralph Rushton (left) with his driver in Al Bayda, Yemen, 1996. RALPH RUSHTON

sent Anglo as a donor on the awards committee of a mining educational charity: the Mineral Industry Education Trust (MIET), which was established to help earth science and mining engineering students by awarding three to four scholarships annually.

Each year we ran a selection process to find two to three students who would receive an MIET award. Applicants had to be a) eligible to study in the U.K., b) available for interview and c) accepted for the course they were seeking the award for. It was a useful way for the mining companies to spot nascent industry talent early, and it was a decent award for the students. Fifteen hundred pounds a year for the duration of the students’ degree, whether it was a PhD, MSc or Bachelors. And let’s face it, students always need money and geology students need more money than the average undergraduate to fund

the regular field trips where they’re forced to buy beer to survive.

The selection panel was drawn from the sponsoring companies (assuming they wanted to take part), and a human resources person, usually from the company hosting the interviews. Each spring we’d receive a large envelope containing 15-20 prescreened applications from which we’d choose seven or eight to interview in London. In the early summer, we put the kids through a day long interview process. Group exercises, presentations, interviews and essays; it was a fairly tough process that allowed us to home in on the best candidates.

One summer, we interviewed a kid who was coming out of high school and wanted to study mining engineering. He was Welsh, if I remember right. He was a big kid — a rugby player — who spoke with a thick accent and didn’t look remotely

comfortable wearing a suit. As he walked into the room, the HR person frowned slightly.

The boy had come across as average in the other exercises that day. He wasn’t a natural public speaker and was a little shy in the group exercise.

But it was when we asked him about his hobbies that things got interesting. He’d done some woodworking, which was good to know. He was a practical type then. And then he told us he’d built a forge in his back yard, to produce iron. A working one.

There was a moment of contemplative silence from the industry reps around the table — some knowing nods like we knew how to do it too (ha ha) — and then someone asked what he made from the iron. Tools and stuff, he said. Whatever took his fancy, but he was learning to do basic blacksmithing at 17 years old with home smelted iron. Teaching himself in the back yard next to dad’s shed,

tal are intrinsically connected. There is little doubt that mining social performance expectations will continue to grow rapidly in 2022. Most mining social risk comes down to the increasing awareness of potential adverse impacts on human and Indigenous rights, as well as companies’ ability and commitment to establish systems that ensure strong social performance. To thrive, miners should level up their risk management with quantitative and qualitative social data, and integrate robust social considerations in acquisitions, expansions, and other business development. Adequate action will require time and money, likely upskilling your (leadership) teams: the industry-wide skills gap in this area is real.

No matter your position on ESG, the trend is clear: ESG action is now considered critical to both business and social resilience and is increasingly integrated into board oversight responsibilities and executive compensation. Even if a company’s regulatory context or biggest investors don’t require action, a watchful global ESG community and a broad range of stakeholders and rights holders increasingly expect it. That makes inaction the greatest risk of all. TNM Elizabeth Freele and Rachel Dekker are the co-founders and managing partners of industry-focused sustainability think tank and ESG consultancy Sympact. They work with companies to help them ensure their social performance meets growing expectations.

under the washing line, while the cat watched from the kitchen window.

Later that day, it was decision time.

We huddled around the boardroom table and went through all the interviews one by one, comparing notes.

Our Welsh friend was one of the last on the candidate list.

“What about this chap?” I asked my colleagues.

Before they could respond, the HR person piped up: “Oh no, totally unsuitable. Far too rough around the edges and his presentation wasn’t very good. We couldn’t possibly award him a scholarship.”

There was silence around the table and some uncomfortable bum-shuffling.

Then the chap from BHP (Eric) glanced at me and the Rio Tinto person in turn, with a look that screamed: “Who wants to tell them?”

I yelled back at him with my raised eyebrows “Go ahead.”

“Er ... he’s 17 and wants to study mining engineering. He’s built a forge in his back yard, smelts iron and makes tools. If I’m underground and there’s a problem, I want this boy next to me solving the problem. He’s first in line for a scholarship, even if he can’t present. We’re not here to assess presentation skills, we’re here to find practical engineers and geologists.”

We took a quick show-of-hands vote on his award. The HR rep timidly raised their hand making the vote unanimous. TNM — Ralph Rushton is a geologist and has worked at mines and exploration projects around the world including stints in South Africa, Turkey, Bulgaria, Yemen, Iran and Pakistan. He is currently the president of Aftermath Silver (TSXV: AAG; US-OTC: AAGFF), a silver development company with projects in Chile and Peru. In his spare time, he writes about mining and exploration for his popular blog, urbancrows.com. He graduated with a geology degree from Portsmouth Polytechnic in the U.K., and completed a master’s degree in geology at the University of Alberta researching the source of the placer gold in the Klondike.

GLOBAL MINING NEWS

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FEBRUARY 7-20, 2022 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / JANUARY 24-28, 2022 The S&P/TSX Composite Index rose 120.36 points or 0.58% to 20,741.75 during the January 24 to January 28 trading week. The S&P/ TSX Global Mining Index fell 3.20 points or 3.02% to 102.89 and the S&P/TSX Global Base Metals Index dropped 4.99 points or 2.69% to 180.41. The S&P/TSX Global Gold Index lost 11.85 points or 4.14% to 274.14 and spot gold decreased US$44 per oz. or 2.40% to US$1,791.60 per ounce.

Shares of Trevali Mining were down 32.8% to $1.25. On Jan. 24 the company said it is “continually monitoring” developments in Burkina Faso following a coup in the country, “to determine the extent, if any, to which operations at Perkoa may be impacted and will provide updates as and when appropriate.”

Trevali owns 90% of the Perkoa mine. The company also released preliminary production results for 2021. Total production from its operations reached 322 million lb. of payable zinc; 39 million lb. of payable lead; and 902,000 oz. of payable silver. It forecasts consolidated production guidance in 2022 of an estimated 247-280 million lb. of payable zinc, 36-41 million lb. payable lead and 688,000-778,000 oz. of payable silver.

Barrick Gold’s shares fell 64¢ to $23.68. The

company reported that its North Mara and Bulyanhulu mines, which were moribund gold mines when Barrick took over their management two years ago, delivered a combined production of more than 500,000 oz. gold in 2021, which it says meets its criterion for membership in its Tier 1 portfolio. In addition, Tanzanian nationals now make up 96% of their workforce, with 41% drawn from surrounding villages, Barrick said. The gold major also said both mines are expected to report “a significant growth of their mineral reserves, net of depletion, for 2021.”

NexGen Energy dropped 16¢ to $4.96 per share. The company reported it had completed 18 drill holes in 2021 for a total of 10,849.04 metres, of which 6,400.31 metres targeted electromagnetic conductors that neighbor the TSX MOST ACTIVE ISSUES VOLUME (000s) HIGH

Suncor Energy Kinross Gold B2Gold Corp Barrick Gold Denison Mines Yamana Gold Nexgen Energy Fission Uran Cameco Corp Teck Res

SU 62501 K 24104 BTO 20721 ABX 18145 DML 17278 YRI 13683 NXE 11775 FCU 11608 CCO 11306 TECK.B 10157

36.69 7.20 4.60 24.89 1.58 5.52 5.21 0.79 26.01 42.28

WEEK LOW CLOSE CHANGE

32.08 6.58 4.34 23.32 1.35 5.04 4.68 0.65 23.03 37.87

36.15 + 2.07 6.69 - 0.41 4.41 - 0.05 23.68 - 0.64 1.46 - 0.04 5.14 - 0.15 4.96 - 0.16 0.70 - 0.06 24.33 - 1.05 39.22 - 1.75

one hosting the Arrow deposit and 4,448.73 metres targeted “significantly below” the current Arrow deposit. Highlights included hole AR-21-268, which intersected 8.5 metes of total composite mineralization, including 6.5 metres up to 3,530 counts per second (cps) starting from 1128.5 metres downhole. “The results highlight additional mineralization is present below Arrow that was not previously

identified in the resource wireframes,” Grant Greenwood, the company’s VP exploration, stated in news release. “In addition, regional results along the Patterson and Derkson corridors have identified numerous new intersections of radioactivity, brittle structural disruption, and hydrothermal alteration, significantly elevating the prospectivity of those targets for immediate follow up in 2022.” TNM TSX GREATEST VALUE CHANGE

TSX GREATEST PERCENTAGE CHANGE VOLUME (000s) HIGH

Xanadu Mines Entree Res Turquoise HIl Goldgroup Mng EurOmax Res Yorbeau Res Mega Uranium Black Iron Champion Iron Suncor Energy Gatos Silver Trevali Mining Northcliff Res Silver Eleph Equinox Gold RTG Mining Newcrest Mg Orea Mining Skeena Res Endeavr Silver

XAM ETG TRQ GGA EOX YRB MGA BKI CIA SU GATO TV NCF ELEF EQX RTG NCM OREA SKE EDR

3944 1268 2156 198 74 3020 8786 2234 3769 62501 2021 1753 537 236 7671 70 19 2047 967 2669

0.03 1.02 23.83 0.04 0.09 0.05 0.32 0.18 5.62 36.69 12.94 1.75 0.05 2.40 8.72 0.12 23.18 0.13 16.46 5.17

VOLUME (000s)

WEEK LOW CLOSE CHANGE

0.03 0.74 18.15 0.00 0.00 0.05 0.24 0.13 4.84 32.08 3.45 1.22 0.04 1.62 6.99 0.00 19.11 0.11 13.29 4.28

0.03 0.87 22.53 0.04 0.09 0.05 0.31 0.16 5.60 36.15 3.91 1.25 0.04 1.68 7.10 0.10 19.31 0.11 13.50 4.42

+ + + + + + + + + + -

20.0 19.2 16.0 14.3 13.3 11.1 8.9 6.9 6.7 6.1 69.9 32.8 22.2 21.9 18.6 16.7 16.0 15.4 15.2 14.7

Turquoise HIl Labrador IOR Suncor Energy Altius Mnrls Champion Iron Teck Res Largo Res Aura Minerals Atalaya Mining Golden Star Gatos Silver Agnico Eagle Kirkland Lake Newcrest Mg Newmont Corp First Quantum Pan Am Silver Skeena Res MAG Silver Teck Res

TRQ LIF SU ALS CIA TECK.A LGO ORA AYM GSC GATO AEM KL NCM NGT FM PAAS SKE MAG TECK.B

2156 2204 62501 762 3769 19 552 200 5 123 2021 4794 4767 19 1141 9961 3158 967 1393 10157

WEEK CLOSE

22.53 39.67 36.15 17.40 5.60 42.00 10.50 11.14 7.26 5.00 3.91 59.04 46.61 19.31 76.41 30.77 26.98 13.50 17.03 39.22

CHANGE

+ + + + + + + + + + -

3.11 2.14 2.07 0.48 0.35 0.27 0.27 0.20 0.16 0.16 9.07 4.96 3.81 3.69 2.97 2.85 2.58 2.42 1.89 1.75

TSX VENTURE EXCHANGE / JANUARY 24-28, 2022 The S&P/TSX Venture Exchange fell 18.29 points or 2.13% to 838.33. Spot gold dropped US$44.00 per oz. or 2.4% to US$1,791.60 per ounce.

Shares of Los Andes Copper climbed $1.04 to $13.04. The company announced financial results for the year ended on September 30, 2021. The company posted a net loss of $1.65 million or 6¢ per share, down from a net loss of $1.89 million or 7¢ per share in the previous year ended September 30, 2020. The company is advancing the Vizcachitas project, a large open pit porphyry copper deposit about 120 km north of Santiago, in Chile. The company said it spent about $3.8 million on the project during the 12-month period and is currently drilling with three rigs and plans to increase that number to five. The drill program is designed to demonstrate the potential of copper mineralization below the likely initial pit depths. The company says it hopes to complete a prefeasibility study on the project at the end of the second quarter of this year.

Nobel Resources fell by 47.4% to 30¢. The company released drill results on its recently acquired Salvadora copper project and its Algarrobo project, both of which are in Chile.

Highlights of the drill program at Salvadora

included 1 metre grading 2.29% copper, 0.02% cobalt, 0.29 gram gold per tonne and 1.70 grams silver per tonne starting at 149 metres in drill hole SAL21-001 and 1 metre grading 2.47% copper, 0.01% cobalt and 0.34 gram gold per tonne starting at 139 metres in hole SAL21-005. The drill program started in November. “Although copper grades within these first drill holes are highly variable, we have confirmed this is an extensive mineralized system that needs to be systematically explored to find the higher-grade portion,” the company’s CEO David Gower said in a press release. The highlight of the drill program at Algarrobo included 0.50 metres grading 2.37% copper, 0.07% cobalt, 0.13 gram gold per tonne and 6.2 grams silver per tonne starting at 309.90 metres at a depth of 506.05 TSX-V MOST ACTIVE ISSUES VOLUME (000s) HIGH

Three Valley Leeta Gold Nobel Res GoviEx Uranium Intl Iconic Purepoint Uran American Lith Fission 3.0 Azincourt Ener Pure Gold Mg

TVC 23650 HIVE 16417 NBLC 8270 GXU 8051 ICON 6243 PTU 6172 LI 5622 FUU 4969 AAZ 4897 PGM 4775

0.21 2.61 0.64 0.33 0.06 0.09 3.54 0.20 0.07 0.69

WEEK LOW CLOSE CHANGE

0.03 1.91 0.29 0.27 0.00 0.08 2.55 0.15 0.06 0.56

0.04 2.38 + 0.30 0.30 0.06unch 0.09 + 3.33 + 0.15 0.07 0.57 -

0.16 0.09 0.27 0.02 0.00 0.01 0.21 0.05 0.01 0.10

metres in drill hole ALG21-047.

Shares of Canada Nickel fell 61¢ to $2.90.

The company announced assay results for its Mahaffy, Dargavel, Kingsmill and MacDiarmid properties at the Crawford nickel project. The highest-grade intersection was at Dargavel in hole DAR21-01, which returned 28.5 metres grading 0.34% nickel starting at 375 metres downhole. The thickest interval of mineraliza-

tion was at Kingsmill, where drillhole KML21-01 intersected 334.5 metres grading 0.24% nickel starting at 16.5 metres downhole. According to Steve Balch, VP Exploration, the company will move beyond its flagship Crawford project this year to explore 13 other properties, including Sothman, Deloro, Mann Central, Reaume and Midlothian, which it acquired in November. TNM

TSX-V GREATEST PERCENTAGE CHANGE VOLUME (000s) HIGH

Homerun Res Adex Mining Black Mountain Walker River Cascadero Copp Titanium Corp Infinite Ore Themac Res Odyssey Res Olivut Res Three Valley Nobel Res Zena Mining Pangolin Dia Altan Nevada Castle Peak Mg ZEB Nickel San Lorenzo Trifecta Gold Kaizen Discov

HMR.H ADE BMG WRR CCD TIC ILI MAC ODX.H OLV TVC NBLC ZCC.H PAN ANE CAP ZBNI SLG TG KZD

220 221 273 3263 78 1263 4184 2 14 48 23650 8270 100 337 9 15 37 492 846 51

0.21 0.02 0.40 0.06 0.02 0.80 0.18 0.09 0.05 0.07 0.21 0.64 0.13 0.02 0.01 0.01 0.26 0.11 0.09 0.44

TSX-V GREATEST VALUE CHANGE

WEEK LOW CLOSE CHANGE

0.00 0.00 0.31 0.04 0.00 0.53 0.11 0.00 0.00 0.00 0.03 0.29 0.00 0.00 0.00 0.00 0.00 0.00 0.07 0.00

0.20 0.02 0.40 0.06 0.02 0.75 0.16 0.09 0.05 0.07 0.04 0.30 0.11 0.01 0.01 0.01 0.19 0.09 0.07 0.38

+ + + + + + + + + + -

81.8 50.0 37.9 37.5 33.3 31.6 29.2 28.6 28.6 27.3 80.0 47.4 46.2 33.3 33.3 33.3 32.1 32.0 30.0 29.6

VOLUME (000s)

Los Andes Thesis Gold Sigma Lithium Pac Booker Min American Lith Titanium Corp Uranium Roylty Lithium Chile Saturn Mnrls O3 Mining Nouveau Monde Highwood Asset Arizona Metals Canada Nickel Emerita Res Colonial Coal Foran Mining Callinex Mines Vizsla Silver Universal Vent

LA TAU SGML BKM LI TIC URC LITH SOIL OIII NOU HAM AMC CNC EMO CAD FOM CNX VZLA MCLD

WEEK CLOSE

157 13.04 852 2.45 164 12.30 35 3.82 5622 3.33 1263 0.75 996 3.95 3426 0.95 209 3.45 916 2.15 417 8.31 0 11.75 2117 5.38 1630 2.90 3904 2.84 986 1.94 1491 2.22 258 2.30 980 2.38 30 5.39

CHANGE

+ + + + + + + + + + -

1.04 0.45 0.33 0.27 0.21 0.18 0.15 0.15 0.14 0.12 1.18 0.75 0.70 0.61 0.52 0.50 0.46 0.43 0.42 0.41

U.S. MARKETS / JANUARY 24-28, 2022 The Dow Jones Industrial Average climbed 460.1 points or 1.34% to 34,725.47 and the S&P 500 rose 33.91 points or 0.77% to 4,431.85. Spot gold dropped US$44.00 per oz. or 2.4% to finish the Jan. 24-28 trading week at US$1,791.60 per ounce.

Turquoise Hill Resources climbed US$2.19 or 14.2% to US$17.64 per share. The company announced on January 24 that it had reached an understanding with the government of Mongolia for a “renewed partnership” and that it received approval for the commencement of the undercut, namely the commencement of blasting that will start the Oyu Tolgoi underground mine production. Consequently, the company said it expects to begin caving operations in the coming days. The company expects the underground mine to achieve sustainable production in the first half of 2023. As part of the agreement with the Mongolian government, Turquoise Hill has agreed to waive the US$2.4 billion carry account loan of the government’s state-owned entity through which it owns its interest in the Oyu Tolgoi LLC. The company also said it reached an amended agreement with Rio Tinto that “provides a pathway forward to address” the company’s funding requirements.

Oyu Tolgoi, which produced about 163,000

tonnes of copper in 2021 from its open pit mine, is expected to produce about 500,000 tonnes of copper annually from 2028 to 2036 from the open pit and the underground mine.

Shares of Gatos Silver fell by 70.3% or US$7.24 to US$3.06. On January 25 the company announced that there were errors in the technical report it filed in July 2020 on its Los Gatos project in Mexico and that there were indications of an “overestimation” in the existing resources. The company expects a potential reduction of the mineral content ranging from 30%-50%, after depletion. It said that the geological structures and mineral veins were “more complex than previously modeled.” The company said it was working with independent engineering consultants U.S. MOST ACTIVE ISSUES VOLUME (000s)

Vale* VALE 191572 United States S* X 144948 Cleveland-Clif* CLF 144155 Freeport McMoR* FCX 135482 Kinross Gold* KGC 103125 Barrick Gold* GOLD 102649 Chevron Corp* CVX 101325 Yamana Gold* AUY 94231 Gold Fields* GFI 52050 Suncor Energy* SU 48161

HIGH

15.95 19.85 17.53 40.81 5.70 19.72 137.00 4.38 11.39 28.96

WEEK LOW CLOSE CHANGE

14.93 15.58 - 0.02 17.98 19.54 + 0.29 15.81 16.67 - 0.31 34.94 36.04 - 4.95 5.15 5.25 - 0.40 18.26 18.56 - 0.78 122.84 130.61 + 3.70 3.95 4.03 - 0.18 9.85 10.00 - 0.93 25.27 28.30 + 1.23

to “better understand the magnitude of the overestimations,” a process that will lead to the creation of a new resource estimate and a life of mine plan by the second half of this year. If the company finds that the technical report “materially overestimated resources and reserves, it could constitute an event of default under the company’s credit facility,” in which case, it would seek a waiver from its lender.

Shares of Freeport-McMoRan fell US$4.95

to US$36.04. The company reported full-year 2021 net income attributable to shareholders of US$4.31 billion on revenues of US$22.85 billion, up from 2020 net income of US$599 million on revenue of US$14.19 billion. The company produced 3.84 billion lb. copper, 1.38 million oz. gold, and 85 million lb. molybdenum last year. Average unit net cash costs for copper in 2021 were US$1.34 per lb. and Freeport expects them to average US$1.35 per lb. in 2022. TNM U.S. GREATEST VALUE CHANGE

U.S. GREATEST PERCENTAGE CHANGE VOLUME (000s) HIGH

Turquoise HIl* Arch Resources* Suncor Energy* Peabody Enrgy* CONSOL Energy* Natural Res Pt* Chevron Corp* CONSOL Energy* Alcoa* Trecora Res* Gatos Silver* Harmony Gold* Endeavr Silver* McEwen Mng* First Majestic* Nouveau Monde* Freeport McMoR* Coeur Mng* Fortuna Silvr* AngloGold Ash*

TRQ ARCH SU BTU CEIX NRP CVX CNX AA TREC GATO HMY EXK MUX AG NMG FCX CDE FSM AU

12160 18.94 2476 99.67 48161 28.96 26314 11.88 2400 22.30 197 36.87 101325137.00 22616 15.61 38675 63.64 122 8.53 31556 10.25 35083 4.17 17916 4.09 9110 0.96 33721 10.76 595 7.32 135482 40.81 21518 5.09 21199 3.64 13050 20.48

VOLUME (000s)

WEEK LOW CLOSE CHANGE

14.32 17.64 86.50 97.91 25.27 28.30 9.83 11.23 19.11 21.24 32.57 35.82 122.84 130.61 14.11 15.00 53.26 57.40 7.83 8.20 2.68 3.06 3.34 3.40 3.35 3.46 0.81 0.82 9.29 9.54 6.26 6.53 34.94 36.04 4.31 4.47 3.16 3.24 17.78 17.94

+ + + + + + + + + + -

14.2 6.9 4.5 4.5 3.3 3.3 2.9 2.6 2.1 2.1 70.3 16.7 16.0 13.9 13.2 12.3 12.1 12.0 11.7 11.4

Arch Resources* ARCH Chevron Corp* CVX Turquoise HIl* TRQ Suncor Energy* SU Alcoa* AA Natural Res Pt* NRP CONSOL Energy* CEIX Black Hills* BKH MartinMarietta* MLM Peabody Enrgy* BTU Gatos Silver* GATO Freeport McMoR* FCX Agnico Eagle* AEM Southern Copp* SCCO Kirkland Lake* KL NACCO Ind* NC Newmont Corp* NEM AngloGold Ash* AU Franco-Nevada* FNV Nutrien* NTR

2476 101325 12160 48161 38675 197 2400 1784 3967 26314 31556 135482 14450 6007 11081 35 36761 13050 3182 15664

WEEK CLOSE

97.91 130.61 17.64 28.30 57.40 35.82 21.24 67.56 382.83 11.23 3.06 36.04 46.26 62.57 36.49 30.43 59.86 17.94 128.34 68.58

CHANGE

+ + + + + + + + + + -

6.32 3.70 2.19 1.23 1.19 1.14 0.68 0.63 0.53 0.48 7.24 4.95 4.63 3.69 3.57 3.54 3.23 2.31 2.28 2.24

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 7-20, 2022

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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 PRODUCER AND DEALER PRICES

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening on January 27, 2022 (change from January 20, 2022 in brackets): Aluminium Alloy 2060 (0) Aluminium 823525 (-50125) Copper 91350 (-7375) Lead 53450 (-575) Nickel 92034 (-2796) Tin 2225 (+25) Zinc 156525 (-15850)

Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$89.70 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$23.90 Cobalt: US$31.96/lb.

Copper: US$4.39/lb.

Copper: CME Group Futures March 2022: US$4.43/lb.; April 2022: US$4.44/lb.

Iridium: NY Dealer Mid-mkt US$3,950/tr oz.

Iron Ore 62% Fe CFR China-S: US$141.80 Lead: US$1.04/lb.

Rhodium: Mid-mkt US$16,850/tr. oz.

Ruthenium: Mid-mkt US$530.00 per oz.

Silver: Handy & Harman Base: US$22.48 per oz.; Handy & Harman Fabricated: US$28.10 per oz.

Tin: US$19.26/lb.

Uranium: U3O8, Trade Tech spot price: US$43.15 per lb. U308 Zinc: US$1.65 per lb.

Prices current February 1, 2022

TSX SHORT POSITIONS Short positions outstanding as of January 15, 2022 (with changes from December 31, 2021) Largest short positions Suncor Energy SU 18217467 -13590561 Ivanhoe Mines IVN 16668726 2471987 Argonaut Gold AR 16382338 -440616 Kinross Gold K 13137782 -109202 Barrick Gold ABX 12941668 2558134 New Gold NGD 11702354 306013 First Quantum FM 11484120 2807088 Lundin Mng LUN 10655189 2261448 Fortuna Silvr FVI 10532608 -160245 IAMGOLD IMG 8846391 653332 Wheaton Prec WPM 8258868 -160837 Fission Uran FCU 8054666 2533983 Nexgen Energy NXE 7341642 1532954 B2Gold Corp BTO 7044377 -590648 Denison Mines DML 6688065 1111165 Largest increase in short position Talon Metals TLO 3166398 3019844 First Quantum FM 11484120 2807088 Barrick Gold ABX 12941668 2558134 Fission Uran FCU 8054666 2533983 Ivanhoe Mines IVN 16668726 2471987 Largest decrease in short position Suncor Energy SU 18217467 -13590561 Calibre Mng CXB 6679563 -5517277 St Augustine SAU 30550 -800199 B2Gold Corp BTO 7044377 -590648 Orea Mining OREA 560207 -584808

TSX VENTURE SHORT POSITIONS Short positions outstanding as of January 15, 2022 (with changes from December 31, 2021) Largest short positions Leeta Gold HIVE 4902023 -12496790 Arena Min AN 4564458 4456532 Azincourt Ener AAZ 4367495 3139323 Millennial Lit ML 4225699 2503246 American Lith LI 4023064 -179820 Fission 3.0 FUU 2991685 664740 Galleon Gold GGO 2648204 2368629 QC Copper QCCU 2318421 47785 GoviEx Uranium GXU 2175110 333524 Cypress Dev CYP 1969682 810620 Purepoint Uran PTU 1751943 1529456 Noront Res NOT 1599932 -312299 EnCore Energy EU 1546986 -6475780 Emerita Res EMO 1498860 391250 Three Valley TVC 1350017 -969448 Largest increase in short position Arena Min AN 4564458 4456532 Azincourt Ener AAZ 4367495 3139323 Millennial Lit ML 4225699 2503246 Galleon Gold GGO 2648204 2368629 Purepoint Uran PTU 1751943 1529456 Largest decrease in short position Leeta Gold HIVE 4902023 -12496790 Baselode Egy FIND 1031497 -12216452 EnCore Energy EU 1546986 -6475780 NuLegacy Gold NUG 400381 -3043613 Gold Line Res GLDL 294846 -1813178

12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021

12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021 12/31/2021

DAILY METAL PRICES Date Jan 28 Jan 27 Jan 26 Jan 25 BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne) Al Alloy 2485/2485 2485/2485 2485/2485 2490/2490 Aluminum 3108/3085 3106/3095 3092.5/3079.5 3063/3060 Copper 9620/9620 9870/9832 9960/9925.5 9743/9705 Lead 2300/2283 2329/2323 2365/2345 2358/2348 Nickel 22725/22225 22855/22550 23400/22775 22515/22250 Tin 42440/41700 43140/42550 42795/42200 41650/41200 Zinc 3642/3616 3648/3618 3644/3614 3614/3589 PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.)

Gold AM 1790.20 1815.50 1845.20 Gold PM 1788.15 1806.75 1835.95 Silver 22.50 23.17 23.86 Platinum 1003 1021 1052 Palladium 2328 2279 2307

Jan 24 2450/2450 3044/3029 9799.5/9770 2370/2358 23490/23000 43325/42795 3640/3595

1835.65 1847.30 23.67 1019 2175

1838.25 1831.60 24.07 1017 2147

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

Jan 28 1.2772 0.7830

Jan 27 1.2747 0.7845

Jan 26 1.2658 0.7900

Jan 25 1.2618 0.7925

Exchange rates (Quote Media, January 28, 2022) C$ to AUS C$ to EURO C$ to YEN 1.1215 0.7025 90.3031 C$ to UK Pound C$ to China Yuan C$ to India Rupee 0.5843 4.9774 58.7229 US to AUS US to EURO US to YEN 1.4306 0.8970 115.2150 US to UK Pound US to China Yuan US to India Rupee 0.7463 6.3613 75.0015

Jan 24 1.2626 0.7920

C$ to Mex Peso 16.2941 C$ to Swiss Franc 0.7291 US to Mex Peso 20.8056 US to Swiss Franc 0.9313

C$ to SA Rand 12.2141 C$ to S. Korea Won 946.7727 US to SA Rand 15.5933 US to S. Korea Won 1209.8100

TSX WARRANTS 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 Aris Gold Corporation (ARIS.WT) - One Warrant to purchase one Common Share of the Issuer at $2.75 until expiry.

Ascendant Resources (ASND.WT) - Wt buys sh @ $1.25 to Mar 7/22 eCobalt 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) - One Warrant to purchase one common share of the issuer at $1.40 per share until expiry Excelsior Mining Corp. (MIN.WT) - One Warrant to purchase one Common Share of the Issuer at $1.25 until expiry.

Gran Colombia Gold (GCM.WT.B) - One warrant to purchase one common share of the Issuer at $2.21 until expiry.

Karora Resources Inc. (KRR.WT) - One

Warrant to purchase one common share of the Issuer at $0.50 until expiry.

Liberty Gold Corp. Wt (LGD.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry may 16, 2019 Lithium Americas Corp (LAC.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry Lydian International Limited (LYD.WT) One Warrant to purchase one additional ordinary share of the Issuer at $0.36 per share until expiry Nevada Copper Corp. (NCU.WT) - One Warrant to purchase one common share of the Issuer at $0.20 until expiry Nevada Copper Corp. (NCU.WT.A) - One Warrant to purchase one common share of the Issuer at $0.22 until expiry Nomad Royalty Company Ltd. (NSR.WT) One Warrant to purchase one common share of the Issuer at $1.71 until expiry.

Novo Resources Corp. (NOVO.WT.A) One Warrant to purchase one common share of the Issuer at $3.00 until expiry.

Osisko Gold Royalties (OR.WT) - Wt buys sh @ $36.5 to Feb 18/22

Platinum Group Metals Ltd. (PTM.WT.U) One Warrant to purchase one common share of the Issuer at US$0.17 until expiry Royal Nickel Corporation (RNX.WT) - One Warrant to purchase one common share of the Issuer at $0.50 until expiry.

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 2018-0062 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 Treasury Metals Inc. Wt (TML.WT) - One Warrant to purchase one common share of the Issuer at $1.50 until expiry.

Trevali Mining Corporation (TV.WT) - One Warrant to purchase one common share of the Issuer at $0.23 until expiry.

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

Alpha Lithium Corporation (ALLI.WT) One warrant to purchase one common share at $1.10 per share.

American Cumo Mining Corp. (MLY.RT) 2 rights and $0.07 are required to purchase one share American Lithium Corp. (LI.WT) - One warrant to purchase one common share at $0.30 per share.

Antioquia Gold Inc. (AGD.RT) - One (1) Right and $0.042 are required to purchase one share.

Aurania Resources Ltd. (ARU.RT) - Fourteen (14) Rights exercisable for one common share at $2.70 per common share.

Aurania Resources Ltd. (ARU.WT) - One warrant to purchase one common share at $5.50 per share.

Aurania Resources Ltd. (ARU.WT.A) - One warrant to purchase one common share at $4.25 per share.

Aurania Resources Ltd. (ARU.WT.B) - One warrant to purchase one common share at $2.20 per share.

Avidian Gold Corp. (AVG.RT) - Three rights and $0.11 are required to purchase one Share.

Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.50 per share.

Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.30 per share.

Cabral Gold Inc. (CBR.WT) - One warrant to purchase one common share at $0.80 per share.

Caldas Gold Corp. (CGC.WT) - One warrant to purchase one common share at $2.75 per share.

Cascadero Copper Corporation (CCD.RT) One right and $0.015 are required to purchase one Share.

Cordoba Minerals Corp (CDB.WT) - One warrant to purchase one common share at $1.08 per share.

Cordoba Minerals Corp (CDB.WT) - One warrant to purchase one common share at $1.08 per share.

Cordoba Minerals Corp. (CDB.RT) - One (1) Right exercisable for One (1) Rights Share at $0.05 per Share.

Cordoba Minerals Corp. (CDB.RT) - One right to purchase one common share at $0.54 per share.

Denarius Silver Corp. (DSLV.WT) - One warrant to purchase one common share at

$0.80 per share.

Elevation Gold Mining Corporation (ELVT. WT) - One warrant to purchase one common share at $4.80 per share.

Empress Royalty Corp. (EMPR.WT) - One warrant to purchase one common share at $0.75 per share.

Equinox Gold Corp (EQX.WT) - One warrant to purchase one common share at $3.00 per share.

Eros Resources Corp. (ERC.WT) - One (1) Right exercisable for (1) Unit at $0.05 per Unit.

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

Firefox Gold Corp. (FFOX.WT) - One warrant to purchase one common share at $0.60 per share.

Firefox Gold Corp. (FFOX.WT) - One warrant to purchase one common share at $3.00 per share.

Giga Metals Corporation (GIGA.WT) One warrant to purchase one common share at $0.60 per share.

Giyani Metals Corp. (EMM.WT) - One warrant to purchase one common share at $0.60 per share.

Goldstar Minerals (GDM.RT) - One Right to purchase one common share at $0.03 per share.

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

Kaizen Discovery Inc. (KZD.RT) - One warrant to purchase one common share at $0.51 per share.

LaSalle Exploration Corp. (LSX.WT) - One warrant to purchase one common share at $0.15 per share.

Lion One Metals Limited (LIO.WT) - One warrant to purchase one common share at $2.75 per share.

LSC Lithium Corporation (LSC.RT) - One (1) right exercisable for One (1) Unit at $0.40 per Unit.

Mako Mining Corp. (MKO.RT) - Rights exercisable for One (1) share at $0.10 per share.

Mako Mining Corp. (MKO.WT.A) - One warrant to purchase one common share at $0.60 per share.

Manganese X Energy Corp. (MN.WT) One warrant to purchase one common share at $0.15 per share.

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

warrant to purchase one common share at $0.40 per share Mexican Gold Corp. (MEX.WT) - One warrant to purchase one common share at $0.12 per share.

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

Millennial Lithium Corp. (ML.WT) - One right to purchase one common share at $4.80 per share.

Mineworx Technologies Ltd. (MWX.RT) One right to purchase one common share at $0.015 per share.

Northern Vertex Mining Corp. (NEE.WT) One warrant to purchase one common share at $0.80 per share.

Novo Resources Corp. (NVO.WT) - One warrant to purchase one common share at $4.40 per share.

Orezone Gold Corporation (ORE.WT) One warrant to purchase one common share at $0.80 per share.

Orezone Gold Corporation (ORE.WT) One warrant to purchase one common share at $0.80 per share.

Osisko Development Corp. (ODV.WT) One warrant to purchase one common share at $10.00 per share.

Sandfire Resources America Inc. (SFR.RT) Forty one (41) Rights exercisable for One (1) Share at $0.15 per Share.

Sandfire Resources America Inc. (SFR.RT) Eight (8) Rights exercisable for One (1) share at $0.06 per unit.

Star Royalties Ltd. (STRR.WT) - One warrant to purchase one common share at $1.00 per share.

Three Valley Copper Corp. (TVC.WT) - 20 warrants to purchase one Class A common share at $6.66 per share.

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

Ucore Rare Metals Inc. (UCU.RT) - One (1) right exercisable for one share at $4.00 per share.

Vision Lithium Inc. (VLI.WT) - One warrant to purchase one common share at $0.15 per share.

Vizsla Silver Corp. (VZLA.WT) - One warrant to purchase one common share at $3.25 per share.

Westhaven Gold Corp. (WHN.WT) - One warrant to purchase one common share at $1.00 per share.

Yellowhead Mining Inc. (YMI.RT) - One (1) Right and $0.12 are required to prchase one Share

NORTH AMERICAN STOCK EXCHANGE INDICES 52-week

IndexName S&P/TSX Composite S&P/TSXV Composite S&P/TSX 60 S&P/TSX Global Gold DJ Precious Metals

Jan 28 20741.75 838.33 1260.96 274.14 256.76

Jan 27 20544.11 830.22 1250.86 275.32 256.76

Jan 26 20595.89 846.29 1253.09 280.48 256.76

Jan 25 20590.98 847.21 1252.11 288.47 256.76

Jan 24 20571.30 838.41 1251.09 286.15 256.76

High 21796.16 1113.64 1312.65 341.30 324.94

Low 17297.75 802.71 1024.13 257.81 229.83

CANADIAN GOLD MUTUAL FUNDS FundName Jan 28 ($) BMO Prec Mtls Fd A 22.26 BMO ZGD 64.69 BMO ZJG 59.97 CI Pre Met Fd A 50.62 CIBC Prec Metal Fd A 13.13 Dyn Prec Metls Fd A 12.35 Harvest HGGG 24.15 Horizons HEP 25.66 IG MacGbPreMetCl A 14.13 iShares XGD 17.13 NBI PrecMetFd Invt 16.95 NP Silver Equ A 7.88 NPT Go&PrMinFd A 49.55 Prec Met Fd A 59.39 RBC GblPreMetFd A 50.89 RBC GblPreMetFd Adv 51.23 TD Prec Mtl Fd Inv 43.39

Jan 21 ($) 23.60 68.44 63.02 53.60 13.78 13.51 25.94 27.03 15.30 17.87 17.82 8.58 53.96 64.38 54.32 54.68 45.49

Change ($) -1.34 -3.75 -3.05 -2.99 -0.65 -1.16 -1.79 -1.17 -1.17 -0.74 -0.87 -0.69 -4.41 -4.99 -3.43 -3.45 -2.10

Change (%) -5.70 -5.48 -4.83 -5.57 -4.73 -8.57 -6.90 -4.34 -7.64 -4.15 -4.88 -8.10 -8.17 -7.75 -6.31 -6.31 -4.62

YTDChange (%) -11.50 -12.06 -16.57 -4.02 -8.95 -1.84 -10.11 -9.32 -5.35 -6.04 -12.91 -21.56 -10.54 -5.57 -13.76 -13.79 -8.62

MER (%) 2.40 0.55 0.55 2.31 2.29 2.67 0.68 0.81 2.63 0.61 2.46 3.24 3.19 2.52 2.09 2.12 2.26

TotalAssets (M$) 53.67 53.85 78.66 347.48 59.31 622.53 6.01 22.77 1211.63 27.17

64.07 411.20 1.98 127.41

NEW 52-WEEK HIGHS AND LOWS JANUARY 24-28, 2022 22 New Highs Alpha Copper Arctic Fox Ven Chevron Corp* Colombia Crest* FireFox Gold* First Tellur Goldflare Expl Highbury Proj Homerun Res Los Andes Los Andes* Nrthn Graphite Nrthn Graphite* Phoenix Gold Radius Gold Rockwealth Res Suncor Energy Thesis Gold Titanium Corp Ultra Resource Winshear Gold* World Copper

GLOBAL MINING NEWS · SINCE 1915

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

Brazil Min* Cabral Gold Central Asia* Chilean Metals Cipher Mining* Clarity Gold Coeur Mng* DRDGOLD* EMX Royalty EMX Royalty* Endeavr Silver Endeavr Silver* Equinox Gold Equinox Gold* Ero Copper Ero Copper* Excellon Res Excellon Res* FenixOro Gold* First Majestic First Majestic* First Mg Fin First Mg Fin * Fosterville

Fuse Cobalt Galiano Gold Gatos Silver Gatos Silver* GoldHaven Res* Great Panther Great Panther* IMPACT Silver Integra Res Integra Res* Ion Energy Kore Mining La Imperial Labrador IMH* Leeta Gold Legion Metals Lithium Corp* Lomiko Mtls Lundin Gold MAG Silver Magna Gold Millrock Res* MPV Explor NEO Battery

Nobel Res* Northern Light NovaGold Res NovaGold Res* Novo Res Nthn Dynasty Nthn Dynasty* Nuinsco Res Orca Gold* Pan Am Silver Pan Am Silver* Paramount Gold* Perpetua Res* Platinum Gp Mt Platinum Gp Mt* PolyMet Mng* Pure Gold Mg Pure Gold Mg* Rokmaster Res Secova Metals Sierra Metals Sierra Metals* Silver Bull Re* Silvercorp Met

Silvercorp Met* Sonoro Gold* Standard Graph* Sterling Metal Temas Res Temas Res* Three Valley Three Valley* Tier One Silv Trilogy Mtls Troilus Gold TRU Precious U.S. Gold* Uragold Bay Rs Uranium Res* Wallbridge Mng Wallbridge Mng* Winston Gold Winston Gold* Winston Res

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115 New Lows 1111 Explor 79 Resources Adventus Agnico Eagle Agnico Eagle* Alamos Gold* Alexco Res Alexco Res* Altamira Gold Anacortes Mg Applied Min* Arizona Gold Aurania Res Aurcana Silver Aurcana Silver* Avino Silver Avino Silver* Benchmark Met Benchmark Met* Black Iron Blue Lagoon* Bluejay Mining* BMEX Gold*

LEGEND A C L N O Q T V X *

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Australian Securities Exchange Canadian Stock Exchange London Stock Exchange New York Stock Exchange U.S. over-the-counter NASDAQ or U.S. OTC Toronto Stock Exchange TSX Venture Exchange NYSE American Denotes price in U.S.$

STAFF INVESTMENT POLICY The Northern Miner does not permit any editorial employee to file stories about companies in which the writer owns shares. Editorial employees are also not permitted to take part in initial public offerings or to engage in short selling.

CONVERSIONS OF WEIGHTS & MEASURES 1 troy ounce = 31.1 grams 1 kilogram = 32.15 troy ounces 1 kilogram = 2.2046 pounds 1 (metric) tonne = 1,000 kilograms 1 (metric) tonne = 2,204.6 pounds 1 (short) ton = 2,000 pounds

1 (metric) tonne = 1.1023 (short) tons 1 gram per (metric) tonne = 0.02917 troy ounces per (short) ton = 0.03215 troy ounces per (metric) tonne 1 kilometre = 0.6214 miles 1 hectare = 2.47 acres

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FEBRUARY 7-20, 2022 / THE NORTHERN MINER

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: JANUARY 24–28, 2022 (100s) Stock

Exc Volume

Week High

Low

Last

12-month Change

High Low

A 1111 Explor 1844 Resources 1911 Gold* 1911 Gold 55 North 79 Resources 79North A.I.S Res* A.I.S Res Abacus Mining* Abacus Mining Abcourt Mines Abcourt Mines* Aben Resources* Aben Resources AbraSilver Res AbraSilver Res* Academy Metals ACME Lithium Adamera Min Adamera Min* Adex Mining Advance Gold Advance United Adventus Adventus* Adyton Res Adyton Res* AEX Gold Affinity Metal* African Gold* African Gold African Metals African Rainbo* Aftermath Silv* Agnico Eagle Agnico Eagle* Aguila Amer Gd* Aguila Amer Gd Aiml Res* AJN Resources Alamos Gold Alamos Gold* Alcoa* Aldebaran Res* Aldebaran Res Alerio Gold Alexandra Cap* Alexco Res* Alexco Res Alianza Min Alianza Min* Alien Metals* All American* Allegiant Gold Allegiant Gold* Alliance Mng Alliance Res* Allied Copper Allied Copper* Alma Gold Almaden Min* Almaden Min Almadex Min* Almadex Min Almonty Ind * Almonty Ind Aloro Mining* Aloro Mining Alpha Copper Alpha Lithium Alpha Lithium* Alphamin Res * Alphamin Res Altai Resource Altai Resource* Altair Res Inc Altaley Mining Altaley Mining* Altamira Gold* Altamira Gold Altan Nevada Altan Rio Min Altiplano Met Altiplano Met* Altius Mnrls Altius Mnrls * Alto Ventures Alto Ventures* Altura Mining* Alturas Min Altus Strat* Altus Strat Alumina Ltd* ALX Resources ALX Resources* AM Resources Amani Gold* Amarc Res Amarc Res* Amarillo Gold Amarillo Gold* Amer Intl Vent* American Creek* American Creek American CuMo* American CuMo American Eagle American Lith* American Lith American Mang American Mang* American Pac American Rare* AmericanSierra* Americas Silvr* Americas Silvr Amerigo Res Amerigo Res* Ameriwest Lith* Ameriwest Lith Amex Expl Amex Expl* AmmPower* AmmPower Amseco Expl AMV Capital Anaconda Mng* Anaconda Mng Anacortes Mg Andean Prec Andean Prec* Anfield Energy* Anfield Energy Angel Gold* Angel Gold Angkor Gold* Angkor Res Anglo American* Anglo American* Anglo Pac Grp AngloGold Ash* AngloGold Ash* Angold Res Angold Res* Angus Gold* Angus Gold Antioquia Gold* Antioquia Gold Antler Gold Antler Hill Antofagasta* Apex Res * Apex Res Apogee Min Apollo Silver Apollo Silver* Appia Rare* Appia Rare Applied Min* Arbor Metals Arch Resources* Archer Explor Archon Mineral Arcland Res

C 251 V 10 O 85 V 180 C 64 C 332 C 425 O 357 V 707 O 79 V 135 V 371 O 54 O 733 V 1438 V 2149 O 2074 V 1 C 312 V 81 O 160 V 221 V 1747 C 52 V 1889 O 89 V 648 O 2 V 31 O 6 O 42 V 1437 V 16 O 11 O 643 T 4794 N 14450 O 2 V 23 O 28 C 169 T 4672 N 21204 N 38675 O 33 V 75 C 117 O 587 X 5445 T 1892 V 678 O 144 O 1091 O 72008 V 100 O 68 V 3 D 2958 V 84 O 25 C 241 X 1829 T 64 O 30 V 141 O 158 T 528 O 67 V 3 C 1292 V 2565 O 401 O 1333 V 3490 V 55 O 1 V 160 V 584 O 449 O 253 V 493 V 9 V 0 V 231 O 165 T 762 O 116 V 1411 O 543 O 2295 V 13 O 15 V 133 O 38 V 926 O 260 V 393 O 299976 V 80 O 60 V 526 O 71 O 478 O 434 V 651 O 212 V 373 V 145 O 3420 V 5622 V 1429 O 2012 C 1534 O 135 O 20 X 3183 T 781 T 1330 O 529 O 4651 C 1491 V 226 O 154 O 1147 C 384 V 0 V 10 O 82 T 648 V 293 V 1058 O 33 O 2548 V 1984 O 27 V 437 O 73 V 3093 O 14 O 1944 T 4 O 26 N 13050 V 713 O 16 O 57 V 127 O 7 V 8 V 45 V 0 O 1 O 1180 V 170 V 35 V 783 O 91 O 564 C 546 O 3886 V 367 N 2476 C 27 V 1 V 0

0.06 0.08 0.29 0.37 0.05 0.09 0.14 0.05 0.06 0.06 0.07 0.09 0.08 0.05 0.06 0.42 0.33 0.38 0.98 0.07 0.04 0.02 0.07 1.20 0.89 0.70 0.06 0.05 0.58 0.06 0.11 0.14 0.07 15.50 0.30 64.33 50.95 0.19 0.26 0.14 0.26 9.14 7.25 63.64 0.88 1.10 0.24 0.22 1.70 2.13 0.08 0.06 0.01 0.00 0.33 0.27 0.25 14.69 0.22 0.21 0.06 0.29 0.36 0.25 0.32 0.70 0.89 0.05 0.06 0.99 0.99 0.53 0.83 1.05 0.12 0.10 0.10 0.35 0.30 0.18 0.21 0.01 0.00 0.32 0.27 17.50 13.87 0.29 0.23 0.04 0.02 0.90 1.22 5.46 0.08 0.06 0.06 0.00 0.12 0.09 0.42 0.33 0.02 0.15 0.18 0.04 0.05 0.13 2.91 3.54 0.80 0.66 1.17 0.29 0.09 0.82 1.03 1.67 1.31 1.05 1.31 3.10 2.47 0.51 0.64 0.00 0.12 0.49 0.63 1.36 2.00 1.59 0.08 0.10 0.01 0.02 0.09 0.11 46.87 23.50 2.36 19.95 20.48 0.17 0.13 0.84 1.08 0.03 0.04 0.15 0.00 19.10 0.05 0.07 0.11 0.60 0.48 0.42 0.53 0.01 2.75 99.67 0.58 0.21 0.00

0.05 0.00 0.24 0.31 0.04 0.08 0.10 0.04 0.05 0.05 0.00 0.09 0.07 0.00 0.05 0.34 0.27 0.00 0.86 0.00 0.04 0.00 0.06 0.00 0.77 0.62 0.05 0.05 0.00 0.06 0.10 0.13 0.00 0.00 0.26 58.02 45.42 0.00 0.00 0.12 0.21 8.35 6.53 53.26 0.82 1.00 0.18 0.15 1.35 1.73 0.00 0.00 0.01 0.00 0.00 0.26 0.00 12.81 0.19 0.00 0.05 0.27 0.00 0.22 0.29 0.64 0.78 0.04 0.00 0.75 0.84 0.39 0.74 0.93 0.00 0.10 0.08 0.31 0.24 0.14 0.17 0.00 0.00 0.27 0.22 16.21 12.81 0.23 0.18 0.02 0.00 0.78 0.80 5.07 0.06 0.05 0.00 0.00 0.00 0.08 0.41 0.32 0.01 0.12 0.16 0.03 0.00 0.00 2.01 2.55 0.62 0.48 1.00 0.21 0.04 0.70 0.90 1.51 1.20 0.75 0.95 2.78 2.18 0.37 0.47 0.00 0.00 0.44 0.54 1.15 1.68 1.42 0.06 0.08 0.01 0.00 0.07 0.08 42.75 21.46 0.00 0.00 17.78 0.14 0.00 0.75 0.95 0.03 0.00 0.00 0.00 0.00 0.04 0.00 0.00 0.53 0.42 0.35 0.42 0.01 2.10 86.50 0.42 0.00 0.00

0.05 unch 0.08 0.25 0.31 0.04 0.08 0.10 0.04 0.05 0.05 + 0.07 unch 0.09 0.07 0.04 0.05 0.35 0.27 0.38 0.94 unch 0.06 unch 0.04 unch 0.02 + 0.06 unch 1.05 + 0.80 0.64 0.05 0.05 unch 0.54 0.06 unch 0.11 0.13 0.07 13.25 0.26 59.04 46.26 0.19 0.25 0.14 + 0.25 8.59 6.73 57.40 + 0.82 1.02 0.18 0.17 1.41 1.81 0.07 0.05 0.01 + 0.00 0.33 + 0.26 0.25 unch 14.68 + 0.19 0.19 + 0.05 unch 0.28 0.36 unch 0.23 0.29 0.69 + 0.89 + 0.04 0.06 0.88 + 0.95 0.48 0.79 1.02 0.12 unch 0.10 unch 0.09 0.32 0.25 0.15 0.19 0.01 0.12 unch 0.27 0.22 17.40 + 13.59 + 0.23 0.19 0.03 0.02 0.78 0.91 5.14 0.08 + 0.06 + 0.05 0.00 unch 0.11 0.08 0.42 + 0.32 0.02 unch 0.14 0.17 0.04 0.04 0.12 2.61 + 3.33 + 0.76 + 0.59 + 1.06 0.29 + 0.04 0.70 0.90 1.60 1.25 0.89 1.13 2.80 2.20 0.37 0.47 0.07 unch 0.12 unch 0.49 0.62 + 1.20 1.92 1.42 0.07 unch 0.09 0.01 + 0.02 unch 0.08 0.11 44.90 22.53 2.27 19.20 17.94 0.14 0.12 0.75 0.96 0.03 0.04 unch 0.15 unch 0.18 unch 18.65 0.05 unch 0.06 0.11 0.56 0.43 0.37 0.45 0.01 + 2.55 97.91 + 0.42 0.21 0.16 unch

0.00 0.01 0.04 0.07 0.01 0.01 0.04 0.01 0.01 0.00 0.00 0.01 0.00 0.01 0.01 0.04 0.03 0.03 0.00 0.00 0.00 0.01 0.00 0.02 0.08 0.07 0.01 0.00 0.01 0.00 0.00 0.01 0.01 2.92 0.02 4.96 4.63 0.03 0.03 0.01 0.05 0.24 0.30 1.19 0.05 0.08 0.07 0.01 0.22 0.24 0.01 0.01 0.00 0.00 0.01 0.01 0.00 1.14 0.02 0.03 0.00 0.01 0.00 0.01 0.01 0.01 0.04 0.01 0.02 0.11 0.06 0.03 0.02 0.01 0.00 0.00 0.01 0.03 0.02 0.02 0.02 0.01 0.00 0.06 0.04 0.48 0.14 0.06 0.04 0.01 0.01 0.02 0.13 0.39 0.01 0.01 0.01 0.00 0.01 0.02 0.01 0.01 0.00 0.01 0.02 0.00 0.01 0.01 0.13 0.21 0.01 0.01 0.07 0.00 0.00 0.08 0.09 0.02 0.04 0.14 0.18 0.26 0.25 0.06 0.07 0.00 0.00 0.01 0.02 0.20 0.09 0.18 0.00 0.01 0.00 0.00 0.01 0.01 1.00 0.50 0.18 1.30 2.31 0.03 0.01 0.06 0.04 0.00 0.00 0.00 0.00 0.68 0.00 0.01 0.01 0.04 0.05 0.03 0.06 0.00 0.10 6.32 0.16 0.04 0.00

0.15 0.11 0.59 0.72 0.23 0.25 0.16 0.11 0.11 0.18 0.24 0.17 0.15 0.07 0.09 0.82 0.68 3.00 1.34 0.12 0.10 0.04 0.14 2.09 1.28 1.06 0.40 0.07 0.98 0.16 0.24 0.20 0.15 18.00 1.28 93.19 74.50 1.00 0.49 0.79 0.45 11.33 9.38 64.37 0.88 1.13 0.49 1.45 3.42 4.38 0.22 0.17 0.02 0.02 0.56 0.46 1.15 15.03 0.68 0.44 0.23 1.20 1.52 0.27 0.33 1.07 1.30 0.13 0.08 0.99 1.69 0.53 0.90 1.10 0.17 0.11 0.19 0.80 0.79 0.42 0.47 0.05 0.22 0.50 0.36 19.39 16.00 0.43 0.37 0.50 0.05 1.29 1.66 6.99 0.15 0.12 0.10 0.01 0.20 0.16 0.42 0.35 0.08 0.35 0.44 0.08 0.10 0.40 5.00 6.25 2.86 2.25 1.40 0.33 0.29 3.21 4.03 1.72 1.38 1.37 1.74 3.44 2.68 1.90 2.15 0.12 0.15 0.85 1.05 2.50 2.30 1.83 0.18 0.23 0.03 0.04 0.10 0.12 49.42 24.75 2.90 23.90 26.77 0.48 0.34 1.25 1.28 0.05 0.06 0.29 0.18 27.80 0.13 0.09 0.14 1.15 1.00 1.00 1.22 0.14 2.79 105.58 1.25 0.40 0.38

0.06 0.05 0.21 0.26 0.04 0.08 0.08 0.03 0.04 0.04 0.06 0.08 0.05 0.03 0.04 0.32 0.25 0.38 0.31 0.05 0.04 0.01 0.05 0.15 0.81 0.62 0.04 0.03 0.44 0.06 0.01 0.11 0.06 12.98 0.25 58.02 46.67 0.12 0.15 0.12 0.16 8.30 6.62 17.30 0.36 0.46 0.20 0.15 1.41 1.73 0.07 0.05 0.01 0.00 0.23 0.18 0.20 4.99 0.19 0.15 0.04 0.27 0.34 0.14 0.20 0.58 0.74 0.01 0.04 0.10 0.45 0.25 0.33 0.41 0.06 0.05 0.03 0.20 0.15 0.14 0.19 0.01 0.09 0.23 0.18 13.48 10.38 0.11 0.10 0.00 0.02 0.50 0.92 4.44 0.05 0.04 0.04 0.00 0.06 0.04 0.20 0.16 0.00 0.12 0.16 0.03 0.04 0.10 1.20 1.50 0.47 0.37 0.13 0.02 0.01 0.68 0.85 0.68 0.53 0.53 0.15 2.07 1.65 0.30 0.38 0.04 0.11 0.39 0.50 1.20 0.92 0.77 0.06 0.08 0.01 0.02 0.04 0.05 33.00 16.34 2.00 15.39 14.57 0.13 0.10 0.44 0.54 0.02 0.03 0.09 0.18 17.00 0.01 0.04 0.09 0.38 0.33 0.31 0.40 0.01 1.70 39.02 0.08 0.19 0.06

(100s) Stock

Exc Volume

ArcPacific Res* ArcPacific Res Arctic Fox Ven Arctic Star* Arctic Star Arcus Dev Grp Arcwest Explor Arcwest Explor* Arena Min* Arena Min Argentina Lith* Argentina Lith Argentum Silvr* Argentum Silvr Argo Gold Argo Gold* Argonaut Gold* Argonaut Gold Arianne Phosph Arianne Phosph* Aris Gold Arizona Gold* Arizona Gold Arizona Metals Arizona Metals* Arizona Silver* Arizona Silver Armor Min Artemis Gold* Artemis Gold Asante Gold* Asante Gold Asbestos Corp Ascendant Res* Ascendant Res Ascot Res Ascot Res * AsiaBaseMetals Aston Bay* Aston Bay ATAC Res* ATAC Res Atacama Cop Atacama Res* Atalaya Mining Athabasca Min* Athabasca Min Athena Gold* Athena Atico Mining* Atico Mining Atlas Salt* Atlas Salt Aton Resources* Aton Resources Augusta Gold* Augusta Gold Aura Minerals Aura Minerals* Aurania Res* Aurania Res Aurcana Silver Aurcana Silver* AurCrest Gold AurCrest Gold* Aurelius Min Aurelius Min* Aurion Res * Aurion Res Aurora Royal Aurwest Res AURYN Mining* Aust Goldfield* Aust Mines* Austin Res Austral Gold* Austral Gold Auxico Res* Auxico Res Avalon Advance* Avalon Advance Avenira Ltd* Avidian Gold Avidian Gold* Avino Silver* Avino Silver Avrupa Min Avrupa Min* Awale Res Axmin Inc Aya Gold* Azarga Metals* Azarga Metals Azimut Explor* Azimut Explor Azincourt Ener Azincourt Ener* Aztec Minerals Aztec Minerals* Azucar Min Azucar Min*

O V C O V V V O O V O V O V C O O T V O T O T V O O V V O V O C V O T T O V O V O V V O T O V O C O V O V O V O T T O O V V O V O V O O V V C O O O V O V O C O T O V O X T V O V V O O V O V V O V O V O

25 23 75 0 1343 14 227 100 1256 4383 690 691 6 13 291 84 516 6336 464 799 180 755 1052 2117 1921 349 636 23 87 605 3 144 0 127 305 1548 1255 0 82 317 188 528 9 2284 5 40 544 450 51 226 387 89 2984 33 48 89 237 200 5 314 729 1614 1552 180 8 214 82 141 346 0 502 14 80 144 0 133 57 31 440 904 1441 18 807 19 3214 341 24 11 21 287 23 30 168 34 140 4897 1589 161 116 257 79

Week Last

12-month

High

Low

Change

0.05 0.06 0.16 0.00 0.07 0.04 0.09 0.07 0.37 0.46 0.34 0.42 0.13 0.17 0.11 0.08 1.92 2.39 0.57 0.47 1.52 0.05 0.07 6.25 5.11 0.25 0.32 0.57 5.00 6.21 1.03 1.39 0.00 0.18 0.23 1.10 0.89 0.00 0.05 0.06 0.10 0.13 0.34 0.01 7.40 0.28 0.35 0.12 0.15 0.34 0.44 1.46 1.82 0.15 0.18 0.90 1.21 11.75 9.10 0.88 1.06 0.35 0.28 0.26 0.24 0.38 0.28 1.02 1.28 0.00 0.13 0.89 0.11 0.16 0.00 0.07 0.09 0.91 1.17 0.10 0.13 0.01 0.09 0.06 0.82 1.03 0.08 0.06 0.19 0.07 7.57 0.05 0.06 1.17 1.50 0.07 0.06 0.25 0.20 0.10 0.07

0.04 0.05 + 0.00 0.06 unch 0.15 0.15 unch 0.00 0.06 unch 0.06 0.07 0.00 0.04 unch 0.00 0.08 unch 0.07 0.07 unch 0.30 0.32 0.38 0.41 0.27 0.29 0.35 0.37 0.12 0.12 0.00 0.16 0.09 0.10 + 0.07 0.07 1.63 1.77 2.15 2.27 + 0.50 0.51 0.40 0.40 1.31 1.35 0.04 0.05 0.06 0.06 unch 5.10 5.38 4.00 4.15 0.22 0.24 0.28 0.30 0.00 0.57 4.52 4.62 5.72 5.92 1.02 1.03 + 1.24 1.30 0.00 0.62 unch 0.15 0.15 0.20 0.20 0.99 1.02 0.78 0.82 0.00 0.20 unch 0.00 0.04 0.00 0.06 0.07 0.08 0.09 0.10 0.00 0.33 0.01 0.01 0.00 7.26 + 0.24 0.24 0.30 0.33 unch 0.09 0.11 + 0.00 0.15 unch 0.30 0.31 0.38 0.40 1.18 1.24 1.48 1.61 0.15 0.15 unch 0.00 0.18 0.80 0.90 + 1.00 1.04 10.48 11.14 + 8.23 8.43 0.54 0.69 0.69 0.83 0.32 0.32 0.24 0.25 0.22 0.22 0.18 0.18 0.31 0.34 0.25 0.27 0.82 0.86 1.03 1.12 0.00 0.06 unch 0.10 0.11 0.77 0.78 0.00 0.10 0.12 0.12 0.00 0.07 unch 0.00 0.07 + 0.00 0.09 unch 0.82 0.87 1.01 1.10 0.09 0.10 0.11 0.12 0.01 0.01 unch 0.07 0.07 0.06 0.06 0.70 0.73 0.90 0.93 0.00 0.08 unch 0.06 0.06 + 0.00 0.18 0.05 0.07 + 6.55 6.64 0.00 0.05 unch 0.00 0.06 1.11 1.15 + 1.40 1.48 + 0.06 0.07 0.05 0.05 0.22 0.24 0.17 0.18 0.08 0.08 0.06 0.07 -

0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.03 0.01 0.04 0.05 0.00 0.02 0.01 0.01 0.01 0.03 0.03 0.03 0.12 0.00 0.00 0.70 0.69 0.00 0.01 0.03 0.24 0.20 0.02 0.12 0.00 0.02 0.02 0.05 0.05 0.00 0.01 0.01 0.02 0.02 0.01 0.00 0.16 0.04 0.00 0.00 0.00 0.02 0.02 0.22 0.18 0.00 0.05 0.02 0.11 0.20 0.25 0.14 0.22 0.02 0.02 0.04 0.06 0.02 0.00 0.14 0.16 0.00 0.01 0.11 0.01 0.03 0.00 0.00 0.00 0.04 0.05 0.00 0.01 0.00 0.02 0.00 0.09 0.09 0.00 0.00 0.03 0.02 0.58 0.00 0.01 0.02 0.06 0.01 0.01 0.01 0.02 0.02 0.01

Stock

0.52 0.25 0.16 0.24 0.29 0.04 0.13 0.11 0.52 0.66 0.77 0.96 0.27 0.35 0.26 0.19 3.23 4.09 0.66 0.53 3.29 0.12 0.15 6.44 5.22 0.30 0.35 0.72 6.21 7.88 1.20 1.50 0.80 0.55 0.34 1.41 1.33 0.25 0.06 0.09 0.16 0.20 0.65 0.05 7.65 0.32 0.40 0.23 0.30 0.65 0.78 1.87 1.87 0.23 0.30 2.52 3.48 17.50 14.31 2.95 3.71 1.15 0.91 0.39 0.28 0.80 0.51 1.09 1.36 0.10 0.22 1.05 0.48 0.27 0.10 0.30 0.23 1.68 1.85 0.25 0.36 0.01 0.23 0.40 2.82 3.60 0.14 0.15 0.88 0.08 9.44 0.12 0.17 1.98 2.49 0.18 0.14 0.44 0.34 0.17 0.14

Black Mountain Black Mountain* Black Tusk Res Black Tusk Res* Blackrock Silv Blackrock Silv* Blackwolf Cop Blackwolf Cop* Blind Creek Blue Lagoon* Blue Lagoon Blue Moon* Blue Moon Blue River Res Blue River Res* Blue Sky Uran* Blue Sky Uran Blue Star Gold Blue Thunder BlueBird Batt* BlueBird Batt Bluejay Mining* Bluestone Res Bluestone Res* BMEX Gold BMEX Gold* Bold Ventures Bolt Metals* Bolt Metals Bonanza Gold* Bond Resources BonTerra Res Boreal Metals Boreal Metals* Borneo Res Inv* Boundary Gold* Boundary Gold Brascan Gold Bravada Gold Bravada Gold* Braveheart Res Braveheart Res* Bravo Multinat* Brazil Min* Brigadier Gold* Brigadier Gold BrightRock* Brixton Metals* Brixton Metals Brookmount Exp* Brunswick Expl Bryn Res* BTU Metals* BTU Metals Buenaventura* Buffalo Coal Buffalo Coal * Bullet Explor Bullion Gold* Bunker Hill Burrell Res Bushveld Min* BWR Explor

V O C O V O V O V O C O V V O O V V V O V O V O V O V O C O C V V O O O V C V O V O O O O V O O V O V O O V N V O V O C C O V

C2C Gold* C3 Metals Cabral Gold* Cabral Gold Cache Explor* Caledonia Mng* Calibre Mng* Calibre Mng Califfi Cap Callinex Mines* Callinex Mines Cameco Corp* Cameco Corp Camino Min Camino Min* Camrova Res* Camrova Res Canada Carbon* Canada Carbon Canada Nickel Canada Nickel* Canada One Canada Rare* Canada Rare Canada Silver Canada Silver* Canadian Metal Canadian Prem Canadian Silv Canagold Res* Canagold Res CanAlaska Uran CanAlaska Uran* Canamera Energ Canasil Res Candelaria Mg* Candelaria Mg Candente Coppr Candente Gold* Candente Gold CANEX Metals * CANEX Metals CaNickel Mng* CaNickel Mng Canoe Mng Vent Canoe Mng Vent* Canstar Res* Canstar Res Canterra Min* Canterra Min Cantex Mn Dev* Cantex Mn Dev Canuc Res* Canuc Res Capella Min* Capella Min Capitan Mining Capitan Mining* Capstone Mng Cardero Res* Cardero Res Cariboo Rose Carlin Gold Carlyle Comm* Carrara Explor Cartier Iron Cartier Res* Cartier Res Casa Minerals Casa Minerals * Cascada Silver Cascadero Copp Cassiar Gold Cassius Vents Castle Peak Mg CAT Strategic CAT Strategic* CAVU Mining* CAVU Mining Cdn Goldcamps CDN Maverick* Cdn Palladium Cdn Palladium* Centamin Centerra Gold Central Afric Central Afric* Central Asia* Central Iron Centurion Mnls Century Cobalt* Century Global Cerrado Gold Cerro de Pasc * Cerro de Pasc Cerro Grande Cerro Mng Ceylon Graph* Ceylon Graph Chakana Copper Chakana Copper* Chalice Gold M*

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

0.04 0.04 0.14 0.03 0.03 0.03 0.06 0.05 0.05 0.04 0.07 0.10 0.12 0.16 0.08 0.07 1.50 1.90 0.24 0.18 1.25 0.04 0.06 0.85 0.68 0.13 0.17 0.55 3.40 4.86 0.06 0.09 0.50 0.12 0.14 0.84 0.67 0.13 0.03 0.04 0.07 0.09 0.32 0.01 4.60 0.12 0.15 0.06 0.10 0.27 0.37 0.48 0.12 0.12 0.16 0.80 1.00 9.01 7.13 0.54 0.75 0.32 0.24 0.09 0.09 0.21 0.17 0.43 0.65 0.03 0.07 0.23 0.01 0.12 0.06 0.05 0.07 0.00 0.35 0.07 0.09 0.00 0.07 0.06 0.74 0.90 0.06 0.05 0.18 0.05 3.00 0.04 0.04 0.65 0.83 0.04 0.03 0.22 0.17 0.07 0.06

B B2Gold Corp* B2Gold Corp Baden Res Bald Eagle Balto Res Bam Bam Res Bam Bam Res* Bannerman Egy* Banyan Gold Banyan Gold* Barksdale Res* Barksdale Res Baroyeca Gold Baroyeca Gold* Barrick Gold Barrick Gold* Barsele Min* Barsele Min Baru Gold Baru Gold* Baselode Egy* Baselode Egy Basin Uranium Batero Gold Batero Gold* Bathurst Met Battery Min Bayhorse Silvr* Bayhorse Silvr BC Moly BCM Res* BCM Res BE Res Bear Creek Mng Bear Creek Mng* Bearclaw Cap Bearing Lith Bearing Lith* Beauce Gold Bell Copper Bell Copper* Belmont Res Belo Sun Mng Belo Sun Mng* BeMetals * BeMetals Benchmark Met* Benchmark Met Benjamin Hill Benjamin Hill* Benton Res* Benton Res Benz Mining* Benz Mining Bessor Min* Bessor Min Bird River Res Bitterroot Res* Bitterroot Res Black Hills* Black Iron* Black Iron Black Mammoth* Black Mammoth

X 53817 T 20721 C 33 V 631 V 9 C 1066 O 1069 O 4291 V 744 O 147 O 14 V 334 V 875 O 71 T 18145 N 102649 O 37 V 161 V 386 O 246 O 882 V 1937 C 316 V 35 O 25 V 45 V 218 O 711 V 993 V 0 O 94 V 125 V 0 V 286 O 308 V 0 V 1596 O 891 V 392 V 488 O 566 V 89 T 566 O 1484 O 2 V 90 O 103 V 1011 C 1975 O 15 O 283 V 401 O 101 V 148 O 44 V 14 C 647 O 305 V 255 N 1784 O 475 T 2234 O 0 V 16

3.65 4.60 0.15 0.09 0.09 0.11 0.09 0.18 0.37 0.29 0.27 0.34 0.36 0.29 24.89 19.72 0.40 0.50 0.11 0.09 0.63 0.80 0.80 0.07 0.05 0.09 0.45 0.11 0.13 0.00 0.17 0.18 0.00 1.25 1.00 0.00 0.34 0.29 0.11 0.20 0.16 0.08 0.69 0.56 0.19 0.24 0.78 1.00 0.43 0.34 0.18 0.24 0.46 0.58 0.15 0.06 0.16 0.08 0.09 68.36 0.14 0.18 0.00 0.10

3.39 3.47 4.34 4.41 0.15 0.15 unch 0.00 0.08 0.00 0.09 unch 0.09 0.09 0.07 0.07 0.15 0.16 0.34 0.35 0.26 0.27 0.22 0.22 0.26 0.28 0.32 0.36 + 0.27 0.28 + 23.32 23.68 18.26 18.56 0.34 0.34 0.42 0.45 0.09 0.10 0.07 0.08 0.44 0.55 0.56 0.68 0.68 0.68 0.00 0.07 unch 0.05 0.05 unch 0.00 0.09 0.42 0.44 unch 0.08 0.08 0.10 0.11 0.00 0.35 unch 0.12 0.12 0.00 0.17 0.00 0.20 unch 1.10 1.13 0.87 0.88 0.00 0.22 unch 0.28 0.28 0.24 0.25 0.10 0.10 0.16 0.17 0.13 0.14 0.00 0.07 0.58 0.58 0.45 0.46 0.00 0.19 unch 0.00 0.23 unch 0.71 0.73 0.90 0.93 0.38 0.40 0.30 0.32 0.15 0.17 + 0.19 0.21 + 0.43 0.43 0.00 0.55 0.01 0.05 + 0.00 0.06 + 0.14 0.16 + 0.07 0.08 + 0.00 0.09 65.32 67.56 + 0.10 0.12 + 0.13 0.16 + 0.00 0.09 unch 0.00 0.09 -

0.07 0.05 0.00 0.01 0.00 0.02 0.01 0.02 0.02 0.03 0.05 0.06 0.04 0.01 0.64 0.78 0.04 0.05 0.01 0.02 0.00 0.01 0.07 0.00 0.00 0.01 0.00 0.02 0.02 0.00 0.02 0.01 0.00 0.08 0.07 0.00 0.07 0.02 0.01 0.03 0.03 0.01 0.05 0.04 0.00 0.00 0.06 0.06 0.02 0.01 0.02 0.01 0.05 0.05 0.01 0.01 0.02 0.00 0.01 0.63 0.01 0.01 0.00 0.01

(100s)

High Low

5.37 6.63 0.20 0.16 0.44 0.71 1.12 0.33 0.38 0.35 0.57 0.70 0.45 0.49 30.65 25.37 0.66 0.82 0.22 0.17 1.23 1.54 1.08 0.16 0.13 0.26 0.90 0.25 0.26 0.40 0.25 0.30 0.20 3.20 2.49 0.37 0.44 0.35 0.44 0.28 0.24 0.11 1.10 0.85 0.39 0.50 1.36 1.64 0.50 0.50 0.37 0.25 0.95 1.23 0.15 0.09 0.26 0.19 0.25 72.78 0.62 0.76 0.18 0.22

3.30 4.21 0.13 0.04 0.09 0.09 0.06 0.08 0.17 0.10 0.22 0.28 0.16 0.12 22.30 17.27 0.28 0.35 0.06 0.05 0.32 0.40 0.56 0.06 0.04 0.09 0.33 0.06 0.08 0.06 0.04 0.07 0.20 0.92 0.74 0.22 0.14 0.11 0.10 0.11 0.09 0.05 0.39 0.32 0.16 0.20 0.71 0.90 0.31 0.24 0.07 0.14 0.43 0.54 0.01 0.05 0.11 0.04 0.06 58.22 0.10 0.13 0.06 0.08

Exc Volume

Week

12-month

High

Low

Last

Change

High Low

273 73 3303 142 887 1436 108 26 269 326 604 46 383 1230 75 426 1120 46 1355 336 237 730 2928 63 188 42 48 5 19 2594 913 91 677 449 18570 23 2 7 164 418 395 257 3 94461 49 628 515 868 737 219 57 8 511 913 6148 215 5 4 3 367 3 72 303

0.40 0.32 0.03 0.02 0.99 0.79 0.56 0.43 0.07 0.33 0.41 0.04 0.06 0.02 0.01 0.17 0.21 0.43 0.04 0.05 0.07 0.12 2.10 1.63 0.11 0.07 0.09 0.17 0.20 0.00 0.05 1.35 0.14 0.10 0.00 0.03 0.03 0.68 0.05 0.05 0.08 0.06 0.07 0.01 0.03 0.04 0.06 0.14 0.18 0.20 0.16 0.03 0.09 0.12 8.60 0.02 0.02 0.07 0.06 0.34 0.25 0.16 0.03

0.31 0.00 0.02 0.02 0.86 0.67 0.51 0.37 0.00 0.26 0.33 0.03 0.00 0.00 0.01 0.13 0.17 0.00 0.00 0.05 0.00 0.11 1.76 1.40 0.09 0.07 0.00 0.00 0.00 0.00 0.04 1.24 0.11 0.09 0.00 0.00 0.00 0.58 0.00 0.03 0.07 0.05 0.04 0.00 0.03 0.04 0.04 0.12 0.15 0.11 0.00 0.02 0.08 0.10 7.86 0.00 0.02 0.00 0.06 0.29 0.25 0.12 0.00

0.40 0.31 0.03 0.02 0.88 0.69 0.51 0.37 0.07 0.28 0.36 0.03 0.05 0.01 0.01 0.15 0.19 0.37 0.03 0.05 0.07 0.11 1.94 1.51 0.10 0.07 0.09 0.15 0.19 0.00 0.04 1.30 0.12 0.09 0.00 0.02 0.03 0.68 0.05 0.03 0.07 0.06 0.06 0.01 0.03 0.04 0.06 0.12 0.15 0.15 0.16 0.02 0.08 0.10 8.02 0.02 0.02 0.07 0.06 0.29 0.25 0.13 0.03

+ + unch unch + unch + unch unch unch unch unch unch + + unch unch unch unch + unch unch

0.11 0.08 0.00 0.00 0.05 0.05 0.06 0.04 0.01 0.03 0.03 0.01 0.01 0.00 0.00 0.01 0.02 0.02 0.01 0.01 0.01 0.01 0.17 0.17 0.01 0.00 0.02 0.02 0.00 0.00 0.01 0.02 0.02 0.01 0.00 0.01 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.00 0.00 0.00 0.01 0.02 0.03 0.02 0.01 0.00 0.01 0.01 0.73 0.00 0.00 0.00 0.00 0.01 0.00 0.02 0.00

0.75 0.51 0.09 0.08 1.22 1.03 1.51 1.75 0.17 0.61 0.74 0.08 0.09 0.03 0.02 0.29 0.37 1.05 0.11 0.26 0.32 0.24 2.27 1.79 0.76 0.59 0.12 0.47 0.57 0.04 0.18 1.54 0.33 0.23 0.02 0.07 0.09 0.69 0.14 0.11 0.16 0.12 0.55 0.05 0.20 0.24 0.13 0.25 0.31 1.05 0.29 0.06 0.19 0.17 12.44 0.06 0.04 0.45 0.20 0.43 0.53 0.39 0.08

0.28 0.20 0.02 0.01 0.63 0.50 0.51 0.00 0.06 0.26 0.33 0.02 0.03 0.01 0.01 0.12 0.16 0.37 0.03 0.03 0.05 0.11 1.28 1.01 0.09 0.07 0.06 0.12 0.16 0.00 0.04 0.94 0.11 0.08 0.00 0.02 0.03 0.16 0.04 0.03 0.07 0.05 0.02 0.00 0.03 0.04 0.01 0.10 0.13 0.11 0.11 0.01 0.05 0.07 6.11 0.02 0.01 0.07 0.00 0.17 0.20 0.02 0.03

239 669 91 727 115 133 618 8779 0 81 258 37976 11306 688 44 40 0 45 466 1630 409 0 1029 545 2680 1413 104 24 5 256 232 1152 524 2 318 1 40 603 51 315 77 451 1 3 0 0 79 96 95 141 32 242 13 45 254 46 356 89 7598 143 447 151 0 60 1001 695 172 1184 49 29 5644 78 595 0 15 1305 95 29 208 3 0 2822 1928 73 2448 718 0 1 35 0 206 98 231 129 70 19 0 91 950 205 131 27

0.19 0.15 0.32 0.39 0.02 12.00 1.06 1.33 0.00 2.23 2.67 20.67 26.01 0.09 0.07 0.01 0.00 0.07 0.09 3.38 2.67 0.00 0.07 0.08 0.23 0.20 0.17 0.41 0.07 0.32 0.39 0.47 0.37 0.37 0.13 0.26 0.34 0.23 0.10 0.11 0.12 0.15 0.10 0.13 0.00 0.00 0.22 0.28 0.22 0.25 0.21 0.25 0.14 0.18 0.08 0.09 0.23 0.21 6.30 0.14 0.17 0.05 0.00 0.04 0.03 0.10 0.13 0.17 0.13 0.12 0.04 0.02 1.01 0.00 0.01 0.04 0.04 0.47 0.61 1.15 0.00 0.08 0.06 1.60 10.40 0.10 0.00 3.05 0.07 0.00 0.03 0.18 1.55 0.20 0.25 0.02 0.00 0.18 0.22 0.26 0.21 5.73

0.15 0.13 0.26 0.34 0.01 10.86 0.92 1.18 0.00 1.81 2.30 18.03 23.03 0.08 0.06 0.01 0.00 0.06 0.07 2.78 2.18 0.00 0.04 0.06 0.19 0.14 0.14 0.00 0.00 0.28 0.36 0.39 0.30 0.37 0.12 0.26 0.00 0.19 0.07 0.09 0.09 0.12 0.10 0.00 0.00 0.00 0.19 0.24 0.16 0.00 0.20 0.24 0.00 0.00 0.06 0.00 0.21 0.16 5.36 0.13 0.00 0.00 0.00 0.03 0.03 0.09 0.11 0.15 0.00 0.12 0.03 0.00 0.84 0.00 0.00 0.00 0.02 0.35 0.45 0.00 0.00 0.05 0.04 1.49 9.71 0.08 0.00 3.05 0.00 0.00 0.02 0.00 1.30 0.18 0.00 0.00 0.00 0.15 0.20 0.24 0.19 5.16

0.16 0.13 0.26 0.36 0.02 11.31 0.99 1.23 0.13 1.81 2.30 19.04 24.33 0.08 0.07 0.01 0.07 0.06 0.08 2.90 2.28 0.12 0.06 0.08 0.20 0.16 0.17 0.38 0.07 0.28 0.36 0.42 0.33 0.37 0.12 0.26 0.32 0.23 0.07 0.11 0.09 0.12 0.10 0.13 0.11 0.08 0.19 0.24 0.16 0.25 0.20 0.25 0.14 0.16 0.07 0.09 0.22 0.17 5.49 0.13 0.16 0.05 0.03 0.03 0.03 0.09 0.13 0.15 0.13 0.12 0.03 0.02 0.92 0.08 0.01 0.04 0.04 0.47 0.61 1.15 0.15 0.07 0.06 1.51 10.17 0.10 0.09 3.05 0.07 0.07 0.03 0.14 1.36 0.18 0.23 0.02 0.60 0.16 0.20 0.26 0.19 5.19

+ unch + unch unch + unch + unch unch unch unch + unch + unch unch + + + unch unch + unch unch + unch unch + + + unch + + unch unch unch unch unch + + unch unch -

0.01 0.02 0.04 0.01 0.01 0.44 0.05 0.09 0.00 0.36 0.43 1.12 1.05 0.01 0.01 0.00 0.00 0.01 0.01 0.61 0.48 0.00 0.00 0.00 0.03 0.02 0.03 0.01 0.00 0.03 0.03 0.03 0.03 0.00 0.01 0.00 0.04 0.00 0.03 0.01 0.02 0.03 0.00 0.02 0.00 0.00 0.01 0.03 0.02 0.02 0.01 0.01 0.01 0.03 0.00 0.01 0.02 0.02 0.78 0.00 0.01 0.00 0.00 0.00 0.00 0.01 0.01 0.02 0.01 0.00 0.01 0.01 0.08 0.00 0.01 0.00 0.00 0.10 0.14 0.05 0.00 0.02 0.02 0.12 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.02 0.17 0.02 0.01 0.01 0.00 0.02 0.01 0.00 0.01 0.69

0.48 0.25 0.63 0.77 0.27 16.95 2.02 2.36 0.21 5.26 6.50 28.49 35.47 0.30 0.22 0.12 0.07 0.22 0.28 4.54 3.68 0.12 0.18 0.22 0.77 0.60 0.45 0.60 0.13 0.57 0.73 0.84 0.68 0.50 0.18 0.52 0.68 0.25 0.12 0.20 0.13 0.17 0.22 0.31 0.20 0.17 0.51 0.61 0.37 0.50 0.81 1.04 0.32 0.40 0.10 0.12 0.42 0.35 6.83 0.14 0.17 0.08 0.07 0.18 0.04 0.19 0.31 0.37 0.35 0.27 0.20 0.05 1.38 0.17 0.04 0.10 0.15 1.18 0.63 2.80 0.29 0.19 0.15 2.11 14.73 0.28 0.21 3.29 0.10 0.07 0.15 0.40 1.89 0.34 0.43 0.04 0.60 0.49 0.62 0.63 0.52 7.69

0.10 0.13 0.26 0.34 0.01 10.51 0.79 1.15 0.11 1.78 2.32 12.31 15.84 0.07 0.06 0.00 0.07 0.00 0.07 2.18 1.72 0.04 0.04 0.05 0.16 0.11 0.12 0.21 0.04 0.28 0.35 0.37 0.29 0.27 0.09 0.21 0.29 0.11 0.04 0.05 0.07 0.09 0.09 0.11 0.10 0.00 0.15 0.19 0.16 0.21 0.20 0.24 0.08 0.12 0.01 0.07 0.18 0.13 2.51 0.03 0.05 0.04 0.03 0.02 0.02 0.07 0.01 0.13 0.11 0.07 0.03 0.02 0.35 0.07 0.01 0.03 0.00 0.17 0.10 0.38 0.15 0.05 0.04 1.38 8.21 0.08 0.01 3.05 0.04 0.07 0.01 0.14 0.93 0.18 0.22 0.01 0.60 0.09 0.12 0.23 0.18 2.84

C

(100s) Stock

Exc Volume

Champion Bear Champion Iron* Champion Iron Chatham Rock Chatham Rock* Chesapeake Gld* Chesapeake Gld Chevron Corp* Chiboug Ind Mn Chilean Metals* Chilean Metals China Gold Int Churchill Res Cipher Mining* Cirrus Gold Clarity Gold* Clarity Gold Class 1 Nickel Clean Air Met Clean Comm* Cleghorn Min Cleveland-Clif* Cliffmont Res Clifton Mng* Clydesdale Res CMC Metals* CMC Metals CMX Gold & Sil CNRP Mng Coast Copper Cobalt Block* Cobalt Block Coeur Mng* Colibri Res* Colibri Res Colombia Crest* Colombia Crest Colonial Coal Comet Inds Commander Res* Commander Res Commerce Res Commerce Res* Compass Gold Comstock Mng* Comstock Mtls Comstock Mtls * Condor Gold* Condor Gold Condor Res* Condor Res Conquest Res Conquest Res * Cons Uranium* Cons Uranium Cons Woodjam CONSOL Energy* CONSOL Energy* Constantine Mt* Constantine Mt Contact Gold* Contact Gold Contact Mnrls* CopAur Min CopAur Min* Copper Fox Mtl* Copper Fox Mtl Copper Lake Rs Copper Mtn Mng* Copper Mtn Mng Copper One * Copperbank Res Copperbank Res* Cordoba Mnls* Cordoba Mnls Core Assets Cornerstone Ca Cornerstone Ca* Corsa Coal * Corsa Coal Cortus Metals Corvus Gold Corvus Gold* CoTec Holdings Crest Resource Crest Resource* Crestview Expl Critical Elem* Critical Elem Cross River* Cross River Crown Mining Crown Mining* Cruz Battery* Cruz Battery Currie Rose Rs CWN M’g Acq Cyntar Venture Cypress Dev* Cypress Dev

222 V 122 O 3769 T 84 V 4 O 13 O 28 V N 101325 65 V 53 O 1583 V 106 T 59 V 3463 D 383 C 125 O 382 C 125 C 748 V 28 O 3 V N 144155 0 V 105 O 0 V 435 O 1023 V 70 C 566 C 962 V 71 O 605 V N 21518 102 O 153 V 7 O 874 V 986 V 5 V 40 O 105 V 361 V 33 O 40 V 2410 X 126 V 0 O 20 O 221 T 62 O 290 V 467 V 133 O 701 O 1502 V 128 V 2400 N N 22616 1515 O 675 V 48 O 989 V 40 O 114 V 63 O 215 O 368 V 3910 V 724 O 7941 T 392 O 916 C 424 O 6 O 47 V 1838 C 43 V 7 O 81 O 296 V 670 V 577 T 73 D 0 V 89 C 3 O 59 C 306 O 1943 V 30 O 1191 C 621 V 310 O 1391 O 2249 C 114 V 100 V 59 C 916 O 1620 V

Dajin Lithium* Dajin Res Damara Gold* Damara Gold Danakali* Decade Res Decade Res* Deep-South Res* Deep-South Res DeepRock Min Defense Metals* Defense Metals Defiance Silvr Defiance Silvr* Delrand Res Denarius Silv Denison Mines Denison Mines* Desert Gold Desert Gold* Desert Mtn Egy Diamante Min* Diamcor Mng Diamcor Mng* Diamond Fields Dios Expl Discovery Harb* Discovery Harb Discovery Silv Discovery Silv* Discovery-Corp District Cop* District Cop District Metal* District Metal District Mines Dixie Gold DLP Resouces Dolly Vard Sil Dolly Vard Sil* Dore Copper Doubleview Gld Doubleview Gld* DRDGOLD* Dundee Prec Mt Durango Res* Durango Res DV Resources Dynacor Gld Mn Dynacor Gld Mn* DynaResource* Dynasty Gold Dynasty Gold* E2Gold Inc E2Gold Inc* E3 Metals* E3 Metals E79 Resources* E79 Resources Eagle Graphite* Eagle Graphite Eagle Plains Earl Res East Africa East Africa *

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

Week High

Low

Last

12-month Change

+ 0.00 0.15 0.15 + 3.83 4.28 4.37 + 4.84 5.60 5.62 0.00 0.12 0.13 0.00 0.10 0.10 2.15 2.20 2.36 2.70 2.71 2.97 + 137.00 122.84 130.61 + 0.21 0.22 0.22 0.00 0.09 0.10 + 0.12 0.14 0.15 3.31 3.35 3.62 0.00 0.16 0.17 + 2.54 2.78 3.22 0.25 0.30 unch 0.30 0.11 0.16 0.17 0.19 0.20 0.22 + 0.22 0.29 0.29 + 0.19 0.22 0.22 0.14 0.16 0.16 0.00 0.16 0.16 17.53 15.81 16.67 0.00 0.12 unch 0.00 + 0.16 0.18 0.20 0.00 0.05 unch 0.00 0.11 0.11 0.14 0.13 0.13 0.18 + 0.07 0.10 0.10 + 0.18 0.22 0.23 0.09 0.10 0.14 0.03 0.03 unch 0.04 0.04 0.04 unch 0.05 4.31 4.47 5.09 + 0.07 0.09 0.09 + 0.00 0.11 0.11 + 0.41 0.48 0.48 0.47 0.53 0.61 1.74 1.94 2.44 0.00 2.90 2.90 0.00 0.09 0.09 0.00 0.14 0.14 0.22 0.23 0.25 0.18 0.18 0.20 0.00 0.16 0.20 1.29 1.37 1.52 0.00 0.10 unch 0.10 0.00 0.08 unch 0.00 0.41 0.41 unch 0.41 0.49 0.52 0.56 0.09 0.09 unch 0.09 0.11 0.11 unch 0.12 0.00 0.06 0.07 0.05 0.05 0.06 1.46 1.95 2.10 1.86 2.35 2.63 0.10 0.10 0.12 + 22.30 19.11 21.24 + 15.61 14.11 15.00 0.34 0.34 0.40 0.43 0.43 0.51 0.00 0.04 0.05 0.00 0.06 0.06 + 0.04 0.04 0.04 1.06 1.10 1.30 0.82 0.86 0.98 0.19 0.20 0.25 0.24 0.24 0.27 0.10 0.14 0.16 2.70 2.82 3.13 3.48 3.61 3.96 0.05 0.06 0.06 0.72 0.76 0.82 0.57 0.62 0.65 0.00 0.48 0.51 0.00 0.58 0.61 + 0.44 0.59 0.60 3.81 3.86 4.16 0.00 3.00 3.41 0.41 0.46 0.48 0.52 0.56 0.61 0.08 0.09 0.09 4.09 4.09 unch 4.10 0.00 3.21 unch 0.00 0.00 0.64 unch 0.00 0.10 0.10 unch 0.11 0.09 0.09 0.09 + 0.00 0.31 0.31 0.97 1.01 1.13 1.22 1.28 1.45 + 0.00 0.14 0.14 0.16 0.17 0.20 0.06 0.06 0.07 0.04 0.05 0.06 + 0.16 0.19 0.22 + 0.20 0.25 0.25 0.00 0.05 0.07 0.00 0.08 unch 0.08 + 0.46 0.56 0.60 1.33 1.38 1.55 1.73 1.76 1.94

High Low

0.15 0.08 0.01 5.82 2.94 0.12 7.24 3.71 0.35 0.20 0.09 0.05 0.14 0.08 0.05 4.20 2.05 0.26 5.39 2.62 0.37 3.70 137.00 84.57 0.46 0.14 0.01 0.40 0.09 0.01 0.55 0.12 0.02 4.47 2.52 0.19 0.44 0.17 0.02 0.01 15.39 2.54 0.30 0.12 0.00 1.48 0.11 0.01 1.82 0.19 0.02 1.11 0.10 0.01 0.43 0.17 0.01 0.39 0.00 0.02 0.17 0.08 0.01 0.31 26.51 12.77 0.23 0.09 0.00 0.32 0.14 0.00 0.08 0.05 0.00 0.21 0.03 0.02 0.27 0.08 0.02 0.10 0.05 0.03 0.82 0.18 0.02 0.20 0.09 0.03 0.14 0.02 0.00 0.17 0.03 0.00 0.61 12.60 4.48 0.16 0.01 0.01 0.17 0.07 0.02 0.48 0.08 0.16 0.64 0.10 0.06 3.73 0.50 0.50 4.00 2.00 0.15 0.21 0.08 0.04 0.32 0.11 0.03 0.50 0.19 0.03 0.39 0.16 0.02 0.25 0.11 0.04 9.85 1.08 0.08 0.12 0.08 0.00 0.10 0.03 0.00 0.79 0.35 0.00 1.08 0.48 0.04 0.24 0.01 0.00 0.32 0.11 0.00 0.21 0.07 0.01 0.17 0.05 0.01 2.67 0.85 0.05 3.29 1.07 0.15 0.24 0.08 0.02 0.68 36.23 7.99 0.38 16.22 10.41 0.60 0.14 0.05 0.77 0.17 0.07 0.11 0.03 0.01 0.14 0.04 0.01 0.25 0.01 0.00 1.57 0.12 0.17 1.24 0.11 0.15 0.53 0.15 0.02 0.66 0.20 0.03 0.21 0.03 0.03 4.20 1.63 0.35 5.07 2.10 0.33 0.50 0.03 0.00 0.89 0.33 0.06 0.71 0.25 0.03 1.24 0.01 0.02 1.54 0.45 0.06 0.60 0.07 0.11 5.15 3.40 0.30 3.99 2.25 0.41 0.87 0.21 0.03 1.10 0.27 0.04 0.20 0.08 0.01 4.15 2.17 0.00 3.30 1.71 0.00 0.68 0.11 0.00 0.29 0.10 0.00 0.25 0.07 0.00 2.53 0.26 0.01 1.65 0.86 0.06 1.98 1.08 0.09 1.22 0.01 0.02 0.30 0.11 0.05 0.36 0.06 0.01 0.29 0.04 0.01 0.27 0.06 0.00 0.34 0.08 0.02 0.15 0.03 0.02 0.09 0.06 0.00 0.99 0.46 0.09 2.13 0.68 0.11 2.61 0.83 0.11

D-F 25 30 63 1267 148 1053 46 337 455 1542 991 650 1771 907 135 459 17278 56104 1138 8 380 161 275 522 0 64 609 353 1715 830 20 1 89 90 136 45 60 174 649 1157 111 486 450 1101 2037 506 642 50 121 52 14 29 3 733 198 427 840 161 478 3 72 501 0 195 0

0.63 0.77 0.07 0.09 0.30 0.05 0.03 0.05 0.06 0.06 0.20 0.26 0.51 0.40 0.03 0.64 1.58 1.26 0.16 0.12 2.47 0.04 0.36 0.28 0.00 0.07 0.03 0.04 1.96 1.55 0.09 0.13 0.17 0.25 0.24 0.13 0.22 0.19 0.82 0.65 0.71 0.26 0.20 8.51 7.84 0.06 0.07 0.09 3.17 2.51 1.70 0.18 0.13 0.13 0.11 2.05 2.59 0.62 0.80 0.11 0.16 0.19 0.00 0.27 0.18

0.55 0.00 0.06 0.00 0.25 0.04 0.03 0.04 0.00 0.05 0.18 0.23 0.40 0.31 0.00 0.53 1.35 1.06 0.13 0.10 2.09 0.04 0.27 0.21 0.00 0.00 0.02 0.03 1.66 1.29 0.00 0.13 0.16 0.15 0.21 0.00 0.19 0.00 0.68 0.53 0.67 0.23 0.17 7.51 7.20 0.04 0.05 0.00 2.89 2.26 1.36 0.00 0.11 0.11 0.09 1.63 2.06 0.53 0.68 0.00 0.00 0.17 0.00 0.00 0.18

+ 0.62 0.77 + 0.07 + 0.08 0.25 0.04 unch 0.03 0.04 0.06 + 0.05 0.19 0.24 0.41 0.32 0.03 + 0.62 1.46 1.14 0.14 0.10 2.09 0.04 0.29 0.25 0.19 unch + 0.07 0.02 0.04 unch 1.75 1.34 0.09 0.13 0.16 0.17 0.21 0.12 0.21 0.18 0.74 0.58 0.68 0.23 0.17 7.67 7.40 0.05 0.06 0.09 unch + 3.07 + 2.44 1.36 + 0.18 0.11 0.12 + 0.11 1.86 + 2.42 0.53 0.68 0.11 0.14 0.18 unch 0.45 unch 0.27 0.18 unch

0.02 0.04 0.01 0.01 0.05 0.00 0.00 0.01 0.01 0.01 0.01 0.02 0.07 0.07 0.01 0.01 0.04 0.04 0.01 0.01 0.37 0.00 0.03 0.01 0.00 0.01 0.00 0.00 0.13 0.18 0.02 0.00 0.01 0.03 0.03 0.02 0.03 0.02 0.01 0.02 0.03 0.01 0.01 0.77 0.21 0.01 0.01 0.00 0.01 0.05 0.34 0.02 0.02 0.01 0.01 0.03 0.04 0.09 0.10 0.00 0.01 0.00 0.00 0.03 0.00

2.45 1.65 0.16 0.20 0.47 0.10 0.08 0.23 0.30 0.11 0.59 0.75 1.07 0.91 0.18 0.73 2.64 2.14 0.23 0.17 4.95 0.06 0.52 0.43 1.25 0.13 0.10 0.11 2.74 2.23 0.12 0.20 0.50 0.55 0.59 0.40 0.35 0.35 0.97 0.75 1.28 1.18 1.22 13.18 9.72 0.10 0.13 0.16 3.29 2.58 2.45 0.35 0.20 0.30 0.24 4.22 5.37 1.34 1.65 0.28 0.38 0.19 0.55 0.58 0.39

0.43 0.50 0.00 0.05 0.25 0.04 0.01 0.03 0.04 0.04 0.16 0.21 0.37 0.28 0.03 0.38 0.80 0.62 0.11 0.09 1.50 0.02 0.10 0.08 0.14 0.06 0.02 0.03 1.19 0.90 0.08 0.09 0.11 0.14 0.19 0.11 0.17 0.17 0.42 0.33 0.61 0.20 0.06 7.66 6.99 0.03 0.04 0.09 1.80 1.38 0.52 0.12 0.09 0.10 0.08 1.24 1.53 0.07 0.24 0.00 0.09 0.14 0.34 0.14 0.16

GLOBAL MINING NEWS

(100s) Stock

Exc Volume

Eastern Platin* Eastern Platin Eastfield Res Eastfield Res* Eco Oro Min Eco Oro Min* Edgemont Gold Edgewater Expl Edison Battery* Edison Battery EEE Explor El Nino Vent Elcora Adv Mat Elcora Res* Eldorado Gold* Eldorado Gold Element 29* Element79 Elevation Gold Elevation Gold* Eloro Res* Eloro Res Elysee Dev Elysee Dev * Emerita Res Emerita Res* Emgold Mining* Emgold Mining Eminent Gold Eminent Gold* EMP Metals EMP Metals* Emperor Metals EMX Royalty EMX Royalty* EnCore Energy Endeavour Mng Endeavr Silver Endeavr Silver* Endurance Gold* Endurance Gold Enduro Metals Enduro Metals* Energy Fuels Energy Fuels* Engineer Gold Engineer Gold* Engold Mines Engold Mines* Entree Res* Entree Res Equinox Gold* Equinox Gold Equity Metals* Equity Metals Erdene Res Dev* Erdene Res Dev Erin Ventures* Erin Ventures Ero Copper Ero Copper* Eros Res Corp* Eros Res Corp Eros Res Corp Eskay Mng* Eskay Mng Essex Minerals Essex Minerals* Ethos Gold* Ethos Gold Etruscus Res* Etruscus Res Euro Manganese Euro Manganese* Euro Sun Mg Euro Sun Mg* EurOmax Res EurOmax Res* European Elect* European Elect European Metal* Evergold Evergold* Everton Res* EVI Global Grp Evrim Res Excellon Res* Excellon Res Excelsior Mng* Excelsior Mng ExGen Res Inc Exploits Disc* Explorex Res* Fabled Silver Fabled Silver* Fairchild Gold Fairmont Res* Falco Res Falco Res * Falcon Gold Falcon Gold* Fancamp Expl Fathom Nickel Fathom Nickel* FenixOro Gold* FenixOro Gold Fidelity Min* Fidelity Min Filo Mg Corp Filo Mg Corp * Finlay Minrls Fiore Gold FireFox Gold FireFox Gold* Firestone Vent Fireweed Zinc* Fireweed Zinc First Cobalt * First Cobalt First Energy First Energy* First Idaho First Majestic* First Majestic First Mg Fin * First Mg Fin First Point* First Quantum First Tellur First Tellur* Fission 3.0 Fission 3.0* Fission Uran* Fission Uran Five Star Diam Fjordland Exp* Fjordland Exp Flow Metals Focus Graphite* Focus Graphite Focus Minerals* Fokus Mining Foran Mining* Foran Mining Foremost Lith Foremost Lith* Forsys Metals Fort St James* Fort St James Fortescue Met* Fortuna Silvr Fortuna Silvr* Fortune Bay Fortune Bay* Fortune Min* Fortune Min Forty Pillars Forum Energy* Forum Energy Fosterville Founders Metal Four Nines Fox River Res FPX Nickel Franco-Nevada* Franco-Nevada Franklin Mng* Fredonia Mg Freegold Vent Freeman Gold Freeman Gold* Freeport McMoR* Freeport Res Fremont Gold Fresnillo plc*

O 82 T 93 V 86 O 45 C 35 O 92 C 132 V 1 O 505 V 1044 C 3 V 0 V 651 O 106 N 11289 T 2496 O 211 C 181 V 274 O 127 O 181 V 491 V 58 O 9 V 3904 O 635 O 31 V 313 V 51 O 23 C 667 O 7 C 73 V 107 X 1135 V 4402 T 4341 T 2669 N 17916 O 114 V 440 V 660 O 119 T 4925 X 17436 V 312 O 55 V 13 O 4 O 380 T 1268 X 16654 T 7671 O 200 V 438 O 396 T 470 O 186 V 257 T 2413 N 416 O 9 V 24 V 24 O 477 V 565 V 368 O 200 O 392 V 531 O 50 C 61 V 95 O 61 T 157 O 125 T 74 O 69 O 4 V 2 O 71 V 801 O 144 O 4 C 825 V 220 X 237 T 147 O 363 T 944 V 1 O 511 O 1 V 744 O 181 V 20 O 103 V 170 O 61 V 1021 O 961 V 796 C 1349 O 192 O 664 C 661 O 15 V 862 T 1219 O 112 V 238 V 0 V 1007 O 804 V 19 O 44 V 132 O 1202 V 4665 C 645 O 31 V 0 N 33721 T 4868 O 1603 T 2451 O 786 T 9961 C 8290 O 4479 V 4969 O 1331 O 3287 T 11608 V 769 O 35 V 171 C 538 O 434 V 1943 O 0 V 798 O 410 V 1491 C 6851 O 741 T 1234 O 5 V 82 O 99 T 4724 N 21199 V 64 O 31 O 507 T 1343 C 322 O 1634 V 1881 V 411 V 50 C 40 C 14 V 903 N 3182 T 2111 O 1142 V 32 T 1397 C 1160 O 205 N 135482 V 332 V 162 O 139

THE NORTHERN MINER / FEBRUARY 7-20, 2022

Week High

Low

0.23 0.28 0.08 0.06 0.15 0.12 0.24 0.17 0.12 0.15 0.25 0.00 0.08 0.06 9.47 11.95 0.47 1.05 0.78 0.62 3.05 3.83 0.73 0.58 3.35 2.63 0.04 0.05 0.73 0.58 0.45 0.30 0.10 2.74 2.19 1.49 28.45 5.17 4.09 0.33 0.42 0.23 0.18 8.22 6.54 0.04 0.03 0.25 0.20 0.80 1.02 6.92 8.72 0.12 0.15 0.34 0.43 0.06 0.07 16.65 13.18 0.08 0.10 0.10 2.51 3.17 0.07 0.05 0.20 0.26 0.16 0.18 0.47 0.37 0.24 0.19 0.09 0.07 0.05 0.08 0.06 0.14 0.11 0.07 0.07 0.51 0.77 0.95 0.39 0.47 0.13 0.35 2.40 0.08 0.07 0.14 0.10 0.30 0.23 0.10 0.08 0.10 0.20 0.16 0.17 0.21 0.07 0.10 14.82 11.72 0.08 0.00 0.31 0.35 0.14 0.45 0.58 0.26 0.29 0.29 0.22 0.00 10.76 13.57 0.23 0.29 0.52 33.06 0.71 0.56 0.20 0.15 0.64 0.79 0.04 0.07 0.10 0.03 0.07 0.08 0.17 0.10 2.05 2.67 0.37 0.31 0.81 0.10 0.13 14.50 4.59 3.64 0.67 0.55 0.12 0.15 0.14 0.17 0.20 0.81 0.30 0.65 0.46 0.65 133.55 168.66 0.02 0.30 0.64 0.49 0.39 40.81 0.11 0.03 11.22

0.21 0.27 0.00 0.00 0.00 0.07 0.20 0.00 0.10 0.13 0.25 0.00 0.05 0.05 8.36 10.69 0.41 0.90 0.68 0.53 2.58 3.28 0.70 0.57 2.56 2.00 0.03 0.00 0.00 0.46 0.35 0.26 0.10 2.35 1.85 1.12 26.86 4.28 3.35 0.27 0.35 0.21 0.17 6.97 5.46 0.00 0.03 0.00 0.20 0.58 0.74 5.47 6.99 0.09 0.12 0.31 0.39 0.05 0.06 15.01 11.76 0.08 0.10 0.10 2.12 2.71 0.06 0.05 0.16 0.21 0.15 0.16 0.00 0.33 0.21 0.17 0.00 0.06 0.05 0.00 0.04 0.12 0.09 0.02 0.06 0.45 0.64 0.82 0.33 0.42 0.00 0.29 2.40 0.07 0.05 0.00 0.08 0.28 0.21 0.08 0.06 0.09 0.15 0.13 0.14 0.17 0.07 0.09 12.94 10.21 0.06 0.00 0.26 0.21 0.00 0.41 0.52 0.24 0.26 0.23 0.18 0.00 9.29 11.87 0.20 0.26 0.43 29.10 0.26 0.20 0.15 0.12 0.52 0.65 0.00 0.07 0.00 0.03 0.05 0.07 0.17 0.09 1.74 2.18 0.31 0.25 0.65 0.10 0.00 13.39 4.04 3.16 0.52 0.43 0.10 0.14 0.10 0.13 0.17 0.67 0.00 0.00 0.42 0.53 124.95 158.80 0.01 0.00 0.52 0.43 0.34 34.94 0.10 0.00 8.36

Last

12-month Change

0.22 0.28 unch 0.08 unch 0.06 0.14 + 0.09 + 0.22 0.17 0.11 0.13 0.25 unch 0.03 unch 0.07 unch 0.05 8.53 10.86 0.41 1.04 + 0.69 0.54 2.69 3.47 0.72 0.57 2.84 2.18 0.03 0.05 unch 0.62 0.46 0.44 + 0.30 0.10 2.51 1.99 1.33 + 28.03 4.42 3.46 0.27 0.35 0.23 0.17 7.41 5.80 0.03 0.03 unch 0.24 0.20 unch 0.68 + 0.87 + 5.56 7.10 0.10 0.13 0.31 0.40 0.05 + 0.07 unch 15.42 12.02 0.08 unch 0.10 0.10 2.20 2.79 0.07 + 0.05 unch 0.17 0.21 0.16 unch 0.17 0.43 0.33 0.22 0.17 0.09 + 0.07 + 0.05 0.08 unch 0.05 0.13 0.10 0.02 0.06 0.48 + 0.65 0.82 0.34 0.42 0.13 + 0.31 2.40 unch 0.07 0.05 0.14 0.08 0.28 0.22 0.09 unch 0.07 0.10 + 0.17 0.13 0.14 0.17 0.07 unch 0.09 unch 13.14 10.29 0.07 1.40 unch 0.27 0.21 0.11 unch 0.44 0.55 0.25 unch 0.28 0.25 0.20 0.09 unch 9.54 12.17 0.21 0.27 0.46 30.77 0.62 + 0.48 + 0.15 0.12 0.55 0.70 0.03 0.07 0.10 unch 0.03 unch 0.06 0.08 0.17 unch 0.10 1.75 2.22 0.35 0.27 0.71 0.10 unch 0.13 13.40 4.13 3.24 0.59 0.44 0.11 + 0.14 + 0.10 0.15 0.19 0.70 0.28 0.64 0.42 0.58 128.34 163.72 0.02 0.30 0.52 0.44 0.35 36.04 0.10 0.03 + 8.60 -

0.00 0.00 0.00 0.01 0.02 0.02 0.02 0.01 0.01 0.03 0.00 0.00 0.00 0.01 0.69 0.73 0.03 0.09 0.09 0.06 0.13 0.10 0.02 0.01 0.52 0.48 0.00 0.00 0.08 0.10 0.01 0.00 0.03 0.22 0.16 0.03 0.13 0.76 0.66 0.08 0.08 0.01 0.01 0.44 0.41 0.01 0.00 0.01 0.00 0.08 0.14 1.36 1.62 0.02 0.02 0.02 0.02 0.00 0.00 1.42 1.33 0.00 0.01 0.01 0.22 0.25 0.01 0.00 0.04 0.06 0.00 0.01 0.03 0.05 0.02 0.02 0.01 0.01 0.00 0.00 0.01 0.01 0.01 0.04 0.02 0.03 0.12 0.14 0.04 0.04 0.01 0.04 0.00 0.01 0.01 0.02 0.02 0.01 0.01 0.00 0.00 0.01 0.01 0.01 0.03 0.04 0.00 0.00 1.54 1.37 0.01 0.00 0.05 0.04 0.00 0.01 0.01 0.00 0.02 0.06 0.03 0.00 1.45 1.70 0.01 0.02 0.02 2.85 0.34 0.26 0.05 0.04 0.05 0.06 0.01 0.00 0.00 0.00 0.00 0.01 0.00 0.01 0.35 0.46 0.03 0.04 0.04 0.00 0.01 1.73 0.51 0.43 0.09 0.10 0.00 0.01 0.07 0.01 0.01 0.10 0.02 0.01 0.03 0.04 2.28 0.65 0.01 0.01 0.08 0.04 0.04 4.95 0.01 0.01 2.63

(100s)

High Low

Stock

0.38 0.47 0.10 0.09 0.20 0.16 0.31 0.27 1.00 0.25 0.25 0.06 0.19 0.16 13.58 17.28 0.59 1.65 3.00 2.54 4.65 5.88 0.88 0.74 4.14 3.35 0.07 0.09 1.05 1.00 1.31 0.42 0.29 4.70 3.72 2.27 35.94 9.32 7.76 0.37 0.45 0.29 0.24 14.33 11.39 0.08 0.06 0.55 0.30 0.90 1.12 10.26 13.09 0.24 0.30 0.41 0.50 0.16 0.20 29.76 22.30 0.10 0.12 0.12 2.93 3.55 0.30 0.14 0.50 0.60 0.30 0.38 0.75 0.68 0.47 0.39 0.12 0.09 0.39 0.40 0.20 0.43 0.44 0.42 0.14 0.58 3.90 4.76 0.89 1.13 0.14 1.35 8.34 0.40 0.32 0.20 0.76 0.48 0.40 0.13 0.15 0.17 0.88 0.44 0.39 0.49 0.11 0.15 16.50 13.21 0.20 1.70 0.40 0.35 0.30 0.80 1.07 0.37 0.46 0.62 0.32 0.10 24.01 30.75 0.42 0.50 0.76 36.32 0.50 1.00 0.30 0.24 1.00 1.25 0.07 0.21 0.27 0.08 0.22 0.28 0.24 0.34 2.42 3.09 0.44 0.42 1.30 0.10 0.50 20.12 12.61 9.85 1.25 0.98 0.22 0.27 0.38 0.47 0.56 1.98 0.60 0.70 0.73 0.94 163.79 205.25 0.15 0.37 0.89 0.59 0.46 46.20 0.25 0.10 16.14

Frontier Lith Frontline Gold Full Metal Mnl Full Metal Mnl* Fury Gold Fury Gold* Fuse Cobalt* Fuse Cobalt

V V V O T X O V

G2 Goldfields* G2 Goldfields Gabriel Res* Gabriel Res Galane Gold Galane Gold * Galantas Gold Galantas Gold* Galiano Gold Galiano Gold* Galleon Gold* Galleon Gold Galore Res Galway Gold * Galway Gold Galway Mtls* Galway Mtls Gambier Gold* Gambier Gold Garibaldi Res * Garibaldi Res Gatling Explor Gatling Explor* Gatos Silver Gatos Silver* GCM Mining* GCM Mining General Gold Generation Min Generation Min* Generic Gold Genesis Mtls* Genesis Mtls Gensource Pot Gentor Res Geomega Res Geomega Res* Getchell Gold Getchell Gold * Getty Copper GFG Resources GFG Resources* GFM Res GGL Res GGX Gold GGX Gold* Giga Metals Giga Metals* Gitennes Expl Giyani Gold* Giyani Gold GK Resources Glacier Lake Gladiator Met Glen Eagle Res* Glen Eagle Res Glencore Plc * Glencore Plc* Global Atomic* Global Atomic Global Battery* Global Battery Global Energy* Global Energy Global Li-Ion Global Li-Ion* GlobalMin Vent* Globex Mng* Globex Mng GMV Minerals* GMV Minerals GNCC Capital* Go Cobalt* Go Cobalt GobiMin GoGold Res Golcap Res Gold Basin Res* Gold Bull Res* Gold Bull Res Gold Fields* Gold Fields* Gold Finder Ex Gold Finder Ex* Gold Hunter Rs Gold Line Res Gold Lion Res* Gold Lion Res Gold Mountain* Gold Mountain Gold Port Gold Reserve* Gold Reserve Gold Resource* Gold Royalty* Gold State Res* Gold State Res Gold Std Vents Gold Std Vents* Gold’n Futures Gold79 Mines Gold79 Mines* Goldbank Mng Goldcliff Res* Goldcliff Res Golden Arrow* Golden Arrow Golden Dawn Ml* Golden Dawn Ml Golden Goliath Golden Goliath* Golden Harp Golden Harp* Golden Hope* Golden Hope Golden Indepen Golden Indepe* Golden Lake Golden Mnls* Golden Mnls Golden Pursuit* Golden Pursuit Golden Ridge Golden Secret Golden Share Golden Spike Golden Star Golden Star* Golden Tag Golden Tag* Goldex Res* Goldex Res Goldflare Expl Goldgroup Mng Goldgroup Mng* GoldHaven Res* Goldhills Hldg GoldMining GoldON Res GoldON Res* Goldoz* Goldplay Min GoldQuest Mng Goldrea Res Goldrea Res* Goldrich Mng* Goldseek Res Goldshore Res* Goldshore Res Goldsource Min* Goldsource Min Goldstar Mnls Goldstar Mnls* Goliath Res* Goliath Res Gossan Res GoviEx Uranium* GoviEx Uranium Gowest Gold* Gowest Gold GPM Metals* GPM Metals GR Silver GR Silver*

0.19 0.27 0.06 0.04 0.05 0.04 0.13 0.15 0.01 0.05 0.15 0.03 0.05 0.04 7.46 9.52 0.28 0.67 0.69 0.53 2.40 3.06 0.53 0.40 0.16 0.12 0.02 0.03 0.42 0.45 0.22 0.09 0.10 2.35 1.85 0.83 23.12 4.28 3.51 0.10 0.14 0.17 0.12 4.78 3.73 0.03 0.02 0.21 0.15 0.36 0.47 5.63 6.99 0.07 0.09 0.26 0.33 0.05 0.06 15.01 12.22 0.05 0.08 0.08 1.43 1.81 0.06 0.05 0.12 0.16 0.07 0.11 0.39 0.31 0.21 0.17 0.05 0.04 0.05 0.06 0.04 0.11 0.02 0.00 0.05 0.28 0.67 0.82 0.29 0.36 0.08 0.19 2.08 0.07 0.05 0.14 0.00 0.22 0.15 0.06 0.04 0.09 0.16 0.13 0.14 0.15 0.06 0.05 1.75 1.38 0.06 0.95 0.13 0.11 0.11 0.41 0.52 0.19 0.26 0.14 0.12 0.07 9.54 11.87 0.20 0.26 0.05 20.27 0.05 0.03 0.08 0.06 0.26 0.34 0.03 0.05 0.07 0.03 0.04 0.06 0.16 0.08 0.57 0.66 0.10 0.07 0.28 0.10 0.13 10.25 3.77 2.91 0.52 0.00 0.07 0.10 0.11 0.11 0.15 0.70 0.26 0.41 0.21 0.42 105.62 133.63 0.01 0.13 0.32 0.28 0.23 24.71 0.10 0.02 8.36

Exc Volume

Week High

Low

3246 501 348 29 555 1034 654 474

2.50 0.03 0.17 0.12 0.88 0.69 0.06 0.07

2.28 0.00 0.00 0.12 0.81 0.63 0.04 0.06

O 109 V 307 O 37 V 178 V 1810 O 1276 V 154 O 169 T 195 X 4029 O 244 V 2869 V 89 O 4 V 0 O 154 V 454 O 83 V 483 O 179 V 263 V 207 O 29 T 2021 N 31556 O 243 T 1255 C 706 T 1322 O 636 C 33 O 25 V 303 V 681 V 0 V 371 O 38 C 257 O 276 V 37 V 402 O 920 V 0 V 188 V 471 O 13 V 726 O 693 V 363 O 232 V 487 V 7 V 93 V 0 O 121 V 1001 O 232 O 5279 O 1488 T 3288 O 683 V 647 O 194 V 114 C 725 O 3 O 2 O 32 T 177 O 71 V 52 O 567655 O 44 C 104 V 12 T 3339 C 145 O 35 O 102 V 561 O 1 N 52050 V 488 O 101 C 33 V 1040 O 147 C 302 O 206 T 1100 C 106 O 201 V 167 X 6392 X 4799 O 22 V 159 T 707 X 3630 C 897 V 372 O 26 V 10 O 216 V 73 O 79 V 388 O 10 V 351 V 646 O 93 V 2 O 0 O 4 V 76 C 361 O 67 C 284 X 3147 T 144 O 0 V 211 V 317 V 692 V 73 C 67 T 123 X 7984 V 488 O 257 O 19 V 280 V 1088 T 198 O 103 O 183 V 248 T 2456 V 55 O 26 O 0 V 139 V 863 C 84 O 42 O 192 C 9 O 81 V 527 O 41 V 81 V 312 O 5 O 329 V 361 V 57 O 2575 V 8051 O 27 V 241 O 1 V 401 V 834 O 513

0.36 0.48 0.20 0.24 0.13 0.10 0.56 0.45 0.91 0.73 0.05 0.07 0.03 0.09 0.00 0.52 0.61 0.07 0.07 0.29 0.39 0.25 0.16 12.94 10.25 4.36 5.51 0.24 0.92 0.74 0.31 0.12 0.16 0.33 0.00 0.28 0.22 0.58 0.47 0.07 0.15 0.12 0.00 0.17 0.19 0.10 0.45 0.37 0.05 0.28 0.36 0.20 0.19 0.00 0.05 0.06 5.48 10.89 2.82 3.56 0.17 0.19 0.22 0.28 0.08 0.06 0.15 0.90 1.17 0.19 0.21 0.00 0.15 0.21 0.20 2.88 0.10 0.17 0.23 0.30 11.00 11.39 0.13 0.11 0.38 0.16 0.07 0.09 1.00 1.27 0.13 1.23 1.46 1.80 4.58 0.05 0.05 0.56 0.45 0.06 0.07 0.06 0.11 0.10 0.12 0.13 0.18 0.13 0.16 0.07 0.05 0.15 0.00 0.24 0.30 0.11 0.08 0.14 0.44 0.54 0.09 0.14 0.19 4.12 0.17 0.29 5.00 3.91 0.25 0.20 0.06 0.08 0.20 0.04 0.04 0.27 0.30 2.18 0.20 0.15 0.00 0.14 0.30 0.04 0.03 0.07 0.14 0.44 0.55 0.67 0.86 0.07 0.19 0.73 0.92 0.18 0.26 0.33 0.11 0.13 0.09 0.13 0.33 0.26

Last

12-month Change

High Low

2.36 0.02 0.16 + 0.12 0.84 0.66 0.05 0.07 unch

0.31 0.01 0.01 0.00 0.02 0.01 0.00 0.00

3.05 0.04 0.65 0.57 2.37 1.85 0.17 0.22

0.55 0.02 0.11 0.00 0.75 0.57 0.04 0.06

0.33 0.35 0.43 0.44 0.17 0.18 0.22 0.23 + 0.11 0.12 + 0.08 0.09 0.00 0.50 0.39 0.40 0.81 0.81 0.63 0.64 0.04 0.04 0.06 0.06 0.00 0.02 0.09 0.09 + 0.00 0.13 unch 0.40 0.43 0.52 0.55 0.05 0.05 0.00 0.06 0.24 0.26 0.33 0.35 0.00 0.24 + 0.00 0.16 unch 3.45 3.91 2.68 3.06 3.93 3.97 5.00 5.09 0.16 0.24 + 0.80 0.84 0.64 0.67 0.28 0.28 0.11 0.12 + 0.13 0.14 0.27 0.30 0.00 0.09 unch 0.25 0.26 0.20 0.21 0.46 0.52 0.36 0.41 0.00 0.07 unch 0.15 0.15 unch 0.11 0.11 + 0.00 0.08 unch 0.00 0.14 0.00 0.17 + 0.10 0.10 + 0.38 0.40 0.29 0.31 0.00 0.05 0.23 0.23 0.28 0.28 0.00 0.20 0.00 0.19 0.00 0.37 unch 0.04 0.04 0.00 0.05 5.10 5.24 10.25 10.53 2.34 2.43 2.96 3.12 0.12 0.13 0.15 0.18 0.21 0.21 + 0.25 0.26 + 0.07 0.07 + 0.00 0.05 0.07 0.11 0.77 0.88 1.00 1.09 0.15 0.16 0.19 0.19 0.00 0.00 + 0.13 0.13 0.15 0.20 + 0.00 0.20 2.50 2.59 0.09 0.10 + 0.16 0.17 + 0.18 0.20 0.23 0.25 10.96 10.96 9.85 10.00 0.12 0.13 + 0.09 0.11 + 0.00 0.38 unch 0.13 0.15 unch 0.05 0.06 0.00 0.07 0.90 0.92 1.14 1.18 0.11 0.12 + 1.09 1.15 + 1.31 1.46 + 1.51 1.54 3.91 4.20 0.04 0.04 + 0.00 0.05 0.49 0.50 0.38 0.39 0.06 0.06 + 0.00 0.06 0.00 0.05 0.00 0.11 0.07 0.09 + 0.00 0.11 + 0.13 0.13 0.15 0.16 0.11 0.11 0.13 0.14 0.00 0.06 + 0.03 0.05 + 0.00 0.15 + 0.00 0.40 unch 0.00 0.23 0.26 0.26 0.09 0.10 0.07 0.07 0.12 0.13 0.34 0.36 0.44 0.48 0.09 0.09 unch 0.12 0.13 0.16 0.16 3.85 3.94 0.16 0.16 0.26 0.29 4.83 5.00 + 3.82 3.90 + 0.23 0.24 0.17 0.18 0.04 0.04 0.00 0.07 0.13 0.15 0.00 0.04 + 0.02 0.03 + 0.18 0.20 0.00 0.23 1.77 1.86 0.00 0.18 0.13 0.14 0.00 0.01 unch 0.00 0.13 0.24 0.27 0.00 0.03 0.03 0.03 unch 0.06 0.06 0.12 0.12 0.39 0.41 0.47 0.50 0.63 0.65 0.80 0.83 0.00 0.06 0.19 0.19 unch 0.61 0.61 0.80 0.81 0.00 0.16 + 0.21 0.24 0.27 0.30 0.09 0.09 0.12 0.13 unch 0.09 0.09 unch 0.11 0.11 0.27 0.30 0.21 0.23 -

0.02 0.03 0.01 0.01 0.01 0.00 0.05 0.03 0.04 0.03 0.01 0.01 0.01 0.00 0.00 0.06 0.06 0.03 0.01 0.06 0.04 0.01 0.00 9.07 7.24 0.30 0.31 0.07 0.01 0.01 0.02 0.01 0.01 0.01 0.00 0.01 0.01 0.04 0.05 0.00 0.00 0.00 0.00 0.02 0.01 0.00 0.07 0.06 0.01 0.06 0.07 0.01 0.01 0.00 0.00 0.01 0.30 0.36 0.18 0.15 0.02 0.01 0.00 0.01 0.01 0.01 0.04 0.02 0.06 0.03 0.03 0.00 0.02 0.01 0.05 0.19 0.01 0.00 0.01 0.01 0.04 0.93 0.01 0.00 0.00 0.00 0.01 0.04 0.11 0.07 0.01 0.04 0.04 0.23 0.29 0.00 0.01 0.06 0.06 0.01 0.01 0.00 0.02 0.00 0.01 0.02 0.01 0.02 0.01 0.01 0.01 0.01 0.00 0.02 0.04 0.01 0.01 0.01 0.05 0.04 0.00 0.01 0.02 0.21 0.02 0.01 0.16 0.05 0.02 0.02 0.02 0.01 0.03 0.01 0.00 0.07 0.08 0.20 0.01 0.03 0.00 0.02 0.04 0.01 0.00 0.02 0.01 0.04 0.06 0.04 0.02 0.02 0.00 0.12 0.08 0.01 0.02 0.02 0.01 0.00 0.00 0.03 0.05 0.04

0.50 0.63 0.29 0.34 0.32 0.25 0.94 0.78 1.84 1.44 0.12 0.14 0.03 0.23 0.29 1.00 1.25 0.29 0.36 0.49 0.60 0.52 0.42 31.08 24.00 5.33 6.76 0.63 1.23 1.02 0.80 0.21 0.27 0.48 0.11 0.60 0.47 0.81 0.63 0.11 0.19 0.15 0.15 0.33 0.21 0.17 0.79 0.64 0.12 0.70 0.87 0.30 0.40 0.44 0.13 0.18 5.75 11.43 3.99 4.84 1.52 1.93 0.28 0.35 0.27 0.21 0.70 1.24 1.49 0.36 0.45 0.00 1.33 1.20 0.37 3.79 0.60 0.39 0.53 0.61 12.05 12.53 0.23 0.23 0.95 0.76 0.20 0.26 2.65 3.12 0.26 1.79 2.22 3.20 7.08 0.17 0.26 1.23 0.97 0.21 0.12 0.10 0.19 0.11 0.14 0.20 0.21 0.24 0.31 0.13 0.30 0.23 0.40 0.35 0.44 0.49 0.37 0.70 1.30 1.65 0.16 0.23 0.41 5.44 0.18 0.49 5.12 4.04 0.58 0.46 1.10 0.09 0.20 0.08 0.06 0.87 0.33 2.43 0.82 0.64 0.02 0.20 0.40 0.06 0.05 0.10 0.31 1.75 0.98 1.12 1.41 0.21 0.19 1.31 1.62 0.35 0.47 0.59 0.30 0.38 0.13 0.15 0.86 0.68

0.26 0.35 0.12 0.17 0.10 0.08 0.25 0.22 0.81 0.60 0.03 0.05 0.02 0.08 0.12 0.39 0.52 0.01 0.06 0.05 0.21 0.20 0.15 3.45 2.68 3.37 4.50 0.16 0.57 0.45 0.21 0.06 0.08 0.19 0.07 0.23 0.18 0.36 0.35 0.04 0.12 0.10 0.07 0.10 0.10 0.08 0.33 0.27 0.04 0.18 0.28 0.14 0.15 0.28 0.04 0.05 3.30 6.59 1.09 1.39 0.12 0.15 0.12 0.16 0.07 0.01 0.01 0.53 0.70 0.10 0.13 0.00 0.09 0.14 0.19 2.02 0.08 0.02 0.14 0.18 7.88 7.75 0.06 0.04 0.28 0.11 0.05 0.08 0.86 1.09 0.10 0.91 1.30 1.50 3.39 0.03 0.04 0.49 0.38 0.05 0.05 0.04 0.10 0.05 0.07 0.12 0.15 0.08 0.11 0.04 0.00 0.14 0.17 0.17 0.23 0.09 0.07 0.12 0.31 0.41 0.09 0.10 0.12 2.84 0.08 0.25 2.58 2.04 0.20 0.16 0.00 0.06 0.04 0.04 0.02 0.18 0.13 1.27 0.15 0.00 0.01 0.12 0.11 0.03 0.02 0.02 0.10 0.26 0.51 0.55 0.74 0.06 0.05 0.30 0.35 0.08 0.15 0.19 0.01 0.11 0.05 0.07 0.24 0.19

G-H

(100s) Stock

Exc Volume

Granada Gold* Granada Gold Grande Portage* Grande Portage Granite Creek Granite Creek* Graphano Egy Graphite One* Graphite One Gratomic* Gratomic Graycliff Exp Great Atlantic Great Bear Res Great Bear Res* Great Panther Great Panther* Great Quest Fe Green Battery Green River Green River* Green Swan Cap Green Valley M Greencastle Rs Greenhawk Res Greenland M&En* Greenland Res Greenshield Ex Grid Metals* Grid Metals Grizzly Discvr* Grizzly Discvr Grosvenor Res Group Eleven Group Ten Mtls* Group Ten Mtls GSP Resource Guanajuato Sil* Guanajuato Sil Guardian Exp Gungnir Res* Gungnir Res Gunpoint Expl* Gunpoint Expl Guyana Goldstr Hanna Capital Hannan Metals Hannan Metals* Hanstone Gold Happy Ck Mnrls Harfang Explor Harfang Explor* Harmony Gold* Harte Gold Harvest Gold* Harvest Gold Hawkeye Gld&Di Hawkeye Gld&Di* Hawkmoon Res Headwater Gold Headwater Gold* Hecla Mining* Heliostar Met* Heliostar Met Hemcare Health* Hemlo Expl* Hemlo Expl HFX Holding Highbank Res Highbury Proj HighGold HighGold* Highland Copp Highland Copp* Highway 50 Gld Highway 50 Gld* Highwood Asset Hochschild Mg* Homerun Res Honey Badger* Honey Badger Horizonte Mnls* Horizonte Mnls HudBay Min* HudBay Min Hudson Res Hudson Res* Hunt Mng* Hunt Mng Hylands Intl i-80 Gold i-80 Gold*

O V O V V O V O V O V C V V O T X V V C O V V V C O

I-Minerals* I-Minerals IAMGOLD IAMGOLD* Icon Explor* Iconic Mnls * Iconic Mnls Idaho Champion* Idaho Champion IEMR Res iMetal Res IMPACT Silver Impala Platnm* Imperial Metal Imperial Metal* Imperial Mg Gr* Imperial Mg Gr Inca One Gold* Inca One Gold Inception Mng * Independence G Independence G* Indiana Res* Indigo Expl Infield Min Infinite Ore Infinite Ore* Inflection Res Inomin Mines Intact Gold* Intact Gold Integra Res Integra Res* Inter-Rock Mnl Inter-Rock Mnl* Interconnect Intercontinent Interra Copper Interra Copper* Intl Battery* Intl Battery Intl Bethl Mng Intl Iconic* Intl Iconic Intl Lithium Intl Lithium* Intl Prospect Intl Prospect * Intl Star* Intl Tower Hil* Intl Tower Hil Intl Zeolite* Intl Zeolite Intrepid Pots* Inventus Mg * Inventus Mg InZinc Mining InZinc Mining* Ion Energy* Ion Energy Irving Res Irving Res* IsoEnergy Ltd Itafos* Itafos Itoco Inc* Ivanhoe Mines* Ivanhoe Mines Ivor Explor Jade Leader* Jade Leader Jaeger Res Jaguar Mng Jaguar Mng* Japan Gold Japan Gold* Jasper Mining Jaxon Mining* Jaxon Mining Jayden Res*

Week High

V O V O V V V O V V O V V O V O V V V V O V V V O N T O V V O C C O N O V O O V V V V V O V O V O V O V O V O T N T V O O V V T O

681 1910 249 214 526 475 188 332 300 446 2063 240 228 909 239 877 12347 191 726 90 8 165 17 62 244 1468 852 0 48 741 702 583 1 367 417 294 327 716 1441 8 54 377 118 0 0 7 120 159 19 138 130 0 35083 0 62 312 1731 17 3781 356 94 41411 134 104 43 4 4 0 0 5 271 75 452 335 0 15 0 251 220 259 2167 167 3657 7351 7157 118 42 21 441 0 1029 170

0.06 0.08 0.46 0.56 0.16 0.13 0.49 1.51 1.88 1.06 1.33 0.31 0.24 28.65 22.71 0.27 0.22 0.04 0.12 0.07 0.06 0.05 0.33 0.13 0.09 0.06 0.47 0.00 0.10 0.12 0.06 0.07 0.15 0.12 0.31 0.39 0.18 0.41 0.52 0.05 0.09 0.11 0.45 0.00 0.00 0.04 0.33 0.25 0.19 0.04 0.24 0.21 4.17 0.00 0.15 0.20 0.02 0.02 0.12 0.20 0.16 5.26 0.64 0.78 1.12 0.15 0.17 0.00 0.00 0.31 1.45 1.12 0.15 0.12 0.00 0.18 12.25 1.61 0.21 0.08 0.09 0.09 0.11 7.69 9.74 0.07 0.06 0.04 0.04 0.00 2.95 2.27

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

8 385 6461 32008 1 328 405 633 577 0 91 1244 1 140 50 189 834 22 41 20245 352 14 4 100 223 4184 128 406 130 20 96 239 825 0 1 0 20 1575 195 239 169 2 72 6243 1243 880 111 90 84435 567 48 18 471 452 63 276 124 45 124 193 180 198 945 41 96 278 1330 8052 5 78 90 0 363 125 239 66 3 294 230 0

0.02 0.03 3.29 2.61 0.05 0.14 0.17 0.05 0.06 0.00 0.17 0.54 14.85 3.74 2.96 0.13 0.17 0.29 0.38 0.01 0.10 0.08 0.05 0.08 0.07 0.18 0.13 0.14 0.13 0.04 0.05 2.54 2.05 0.00 0.38 0.00 0.10 0.07 0.06 2.75 3.52 0.04 0.05 0.06 0.12 0.10 0.14 0.13 0.01 0.84 1.01 0.17 0.20 39.59 0.15 0.18 0.06 0.05 0.34 0.43 1.20 0.96 3.78 1.18 1.35 0.16 9.01 11.29 0.36 0.06 0.07 0.00 4.39 3.47 0.29 0.23 0.08 0.04 0.05 0.00

Low

Last

12-month Change

0.05 0.05 0.07 0.07 0.38 0.38 0.48 0.49 0.14 0.14 0.10 0.11 0.42 0.43 1.24 1.35 1.58 1.71 0.95 0.98 1.21 1.25 0.28 0.30 0.21 0.21 27.99 28.15 21.95 22.04 0.24 0.25 0.19 0.19 0.00 0.04 unch 0.11 0.11 0.07 0.07 unch 0.05 0.05 0.00 0.05 0.32 0.32 0.00 0.12 unch 0.08 0.09 + 0.05 0.06 0.39 0.41 0.00 1.95 unch 0.09 0.09 0.11 0.11 unch 0.05 0.05 0.05 0.06 unch 0.00 0.15 + 0.11 0.11 0.28 0.28 0.36 0.36 0.00 0.16 0.33 0.35 0.43 0.43 0.00 0.05 0.08 0.08 0.10 0.10 0.44 0.44 unch 0.00 0.55 unch 0.00 0.13 unch 0.00 0.04 unch 0.00 0.30 + 0.22 0.24 0.00 0.18 0.00 0.04 0.00 0.21 0.00 0.21 unch 3.34 3.40 0.00 0.01 unch 0.00 0.12 0.15 0.16 0.00 0.02 unch 0.02 0.02 unch 0.08 0.08 0.17 0.17 0.14 0.14 4.58 4.73 0.55 0.56 0.70 0.70 0.88 1.06 + 0.15 0.15 0.00 0.17 0.00 0.04 unch 0.00 0.02 unch 0.00 0.31 + 1.30 1.32 1.02 1.04 0.13 0.14 0.10 0.11 0.00 0.19 unch 0.18 0.18 unch 0.00 11.75 1.31 1.37 0.00 0.20 + 0.06 0.06 0.07 0.07 0.07 0.09 + 0.10 0.10 6.79 7.06 8.67 9.01 0.00 0.07 0.05 0.06 + 0.03 0.03 0.00 0.04 0.00 0.03 unch 2.53 2.60 1.99 2.02 -

High Low

0.01 0.01 0.08 0.08 0.02 0.01 0.02 0.19 0.13 0.06 0.05 0.03 0.03 0.37 0.61 0.03 0.03 0.00 0.01 0.00 0.01 0.01 0.01 0.00 0.01 0.00 0.06 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.02 0.02 0.04 0.07 0.01 0.02 0.01 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.02 0.00 0.68 0.00 0.02 0.05 0.00 0.00 0.03 0.03 0.02 0.60 0.05 0.06 0.02 0.00 0.01 0.00 0.00 0.01 0.05 0.06 0.01 0.01 0.00 0.00 0.75 0.25 0.09 0.01 0.02 0.00 0.01 0.60 0.62 0.01 0.00 0.00 0.01 0.00 0.19 0.19

0.19 0.25 0.65 0.78 0.29 0.24 1.20 2.00 2.54 1.51 1.84 2.86 0.84 29.26 24.02 1.47 1.16 0.17 0.72 0.08 0.07 0.12 1.81 0.26 0.37 0.25 0.77 1.98 0.27 0.34 0.07 0.08 0.17 0.18 0.42 0.51 0.50 0.70 0.74 0.20 0.25 0.32 0.56 0.75 0.20 0.16 0.62 0.49 0.54 0.13 0.62 0.39 5.76 0.18 0.19 0.24 0.05 0.04 0.20 0.65 0.27 9.44 1.47 1.81 2.32 0.52 0.70 0.11 0.03 0.31 2.08 1.65 0.17 0.13 0.47 0.37 19.00 3.77 0.15 0.20 0.18 0.15 0.18 9.60 11.62 0.28 0.24 0.23 0.14 0.04 3.54 2.86

0.05 0.07 0.18 0.24 0.14 0.10 0.27 0.70 0.89 0.32 0.42 0.20 0.22 12.80 10.08 0.24 0.20 0.03 0.09 0.05 0.04 0.05 0.26 0.10 0.06 0.04 0.30 0.14 0.07 0.09 0.02 0.03 0.14 0.09 0.22 0.27 0.15 0.24 0.32 0.05 0.03 0.04 0.44 0.55 0.10 0.03 0.22 0.16 0.15 0.04 0.21 0.18 3.00 0.01 0.00 0.10 0.01 0.01 0.06 0.17 0.14 4.50 0.50 0.65 0.77 0.14 0.16 0.03 0.01 0.20 0.98 0.79 0.07 0.05 0.18 0.18 4.72 1.31 0.04 0.01 0.06 0.05 0.10 5.22 6.70 0.06 0.04 0.02 0.04 0.03 2.26 1.88

0.00 0.00 0.09 0.11 0.00 0.00 0.00 0.00 0.01 0.00 0.03 0.07 0.26 0.31 0.24 0.01 0.03 0.00 0.03 0.00 0.01 0.00 0.00 0.02 0.00 0.04 0.03 0.02 0.04 0.00 0.00 0.08 0.09 0.00 0.00 0.00 0.01 0.01 0.01 0.37 0.34 0.00 0.01 0.00 0.00 0.00 0.00 0.02 0.00 0.13 0.10 0.01 0.01 0.14 0.00 0.02 0.01 0.00 0.02 0.03 0.10 0.17 0.03 0.09 0.13 0.02 0.90 0.94 0.00 0.00 0.01 0.00 0.23 0.27 0.01 0.02 0.01 0.01 0.01 0.00

0.05 0.06 4.62 3.85 0.11 0.30 0.37 0.20 0.23 0.05 0.98 1.22 21.00 5.95 4.92 0.20 0.23 0.46 0.53 0.05 0.19 0.15 0.07 0.11 0.42 0.28 0.21 0.43 0.23 0.06 0.12 4.60 3.76 0.51 0.39 0.10 0.24 0.34 0.27 4.05 5.13 0.12 0.13 0.16 0.16 0.13 0.25 0.40 0.02 1.47 1.87 0.24 0.33 52.91 0.22 0.28 0.09 0.05 1.40 0.67 2.59 2.06 6.61 1.55 1.90 0.35 10.27 12.39 0.40 0.07 0.11 0.06 11.30 9.30 0.47 0.38 0.21 0.08 0.10 0.83

0.02 0.03 2.75 2.16 0.00 0.10 0.13 0.04 0.04 0.02 0.15 0.42 10.38 2.95 2.27 0.09 0.11 0.16 0.29 0.00 0.05 0.04 0.04 0.06 0.04 0.06 0.04 0.12 0.08 0.04 0.05 2.23 1.77 0.37 0.31 0.08 0.10 0.05 0.04 0.26 0.33 0.03 0.03 0.04 0.05 0.03 0.10 0.07 0.00 0.62 0.79 0.08 0.10 21.92 0.11 0.13 0.03 0.01 0.27 0.32 0.92 0.72 1.87 0.88 0.46 0.02 4.64 6.06 0.30 0.03 0.05 0.02 3.70 2.79 0.25 0.19 0.07 0.03 0.04 0.20

I-J-K 0.02 0.02 + 0.00 0.03 unch 3.06 3.15 2.40 2.47 0.05 0.05 unch 0.12 0.13 0.15 0.17 unch 0.04 0.04 0.05 0.05 0.00 0.03 unch 0.00 0.16 0.42 0.45 14.34 14.68 3.34 3.34 2.65 2.66 0.12 0.12 0.14 0.14 0.21 0.28 + 0.33 0.36 + 0.01 0.01 + 0.00 0.09 0.00 0.08 0.05 0.05 unch 0.00 0.08 + 0.00 0.06 unch 0.11 0.16 + 0.09 0.12 + 0.12 0.12 0.11 0.12 0.04 0.04 unch 0.00 0.05 unch 2.23 2.30 1.76 1.80 0.00 0.51 unch 0.38 0.38 unch 0.00 0.08 unch 0.00 0.10 0.06 0.06 0.00 0.05 2.25 2.35 2.89 2.92 0.00 0.03 unch 0.03 0.04 + 0.00 0.06 unch 0.10 0.11 unch 0.07 0.09 + 0.00 0.14 unch 0.11 0.11 0.01 0.01 0.67 0.69 0.87 0.91 0.12 0.15 + 0.16 0.19 + 34.38 37.67 + 0.12 0.14 0.15 0.16 0.00 0.06 0.05 0.05 unch 0.29 0.34 0.00 0.43 0.97 1.00 0.76 0.78 2.88 3.18 0.96 0.96 1.15 1.20 0.11 0.13 8.03 8.28 10.25 10.61 0.36 0.36 unch 0.06 0.06 unch 0.00 0.07 0.00 0.03 unch 3.90 4.00 3.07 3.11 0.26 0.28 0.20 0.21 0.00 0.08 0.03 0.03 0.04 0.05 + 0.00 0.46 unch

(100s) Stock

Week

Exc Volume

High

Jayden Res Jazz Res Jervois Mining Jervois Mining* Josemaria Res Joshua Gold* Jourdan Res Jubilee Gold Jubilee Metals* Juggernaut Exp* Juggernaut Exp Jupiter Gold* K2 Gold K9 Gold* K92 Mining K92 Mining* Kainantu Res Kaizen Discov Kalo Gold Kanadario Gold Karam Min Karnalyte Res Karoo Expl Karora Res* KAT Expl* Kenadyr Metals* Kenadyr Metals Kenorland Min Kermode Res Kesselrun Res Kesselrun Res* Kestrel Gold KGL Resources KGL Resources* Kincora Copper* Kincora Copper King Global* King Global Kingfisher Met* Kingfisher Met Kingman Min* Kingman Min Kings Bay Res Kingsmen Res Kingsmen Res* Kinross Gold Kinross Gold* Kintavar Exp Kiplin Metals Kiplin Metals* Kirkland Lake Kirkland Lake* Klondike Gold Klondike Gold* Klondike Silv* Klondike Silv Kodiak Copper* Kombat Copper* Kombat Copper Kootenay Silvr* Kootenay Silvr Kootenay Zinc Kore Mining Kore Mining * Kutcho Copper * Kuya Silver Kuya Silver* KWG Res KWG Res*

V 47 V 37 V 2050 O 2419 T 3910 O 169 V 3389 V 0 O 20 O 18 V 277 O 1 V 448 O 152 T 2705 O 485 V 54 V 51 V 36 V 250 C 23 T 74 V 15 O 345 O 52020 O 4 V 14 V 31 V 1088 V 339 O 36 V 196 V 0 O 0 O 66 V 72 O 42 V 445 O 266 V 618 O 55 V 123 V 130 V 20 O 16 T 24104 N 103125 V 170 V 1194 O 16 T 4767 N 11081 V 53 O 42 O 113 V 1348 O 158 O 30 V 850 O 1197 V 1354 C 348 V 125 O 129 O 243 C 199 O 227 C 3833 O 266

0.53 0.78 0.62 0.56 1.58 0.03 0.06 0.00 0.25 0.13 0.16 1.00 0.21 0.15 7.28 5.76 0.21 0.44 0.22 0.77 0.71 0.35 0.49 3.49 0.00 0.10 0.12 0.75 0.04 0.09 0.08 0.09 0.00 0.00 0.11 0.14 0.04 0.05 0.23 0.26 0.03 0.04 0.12 0.14 0.08 7.20 5.70 0.18 0.91 0.67 50.90 40.33 0.17 0.13 0.05 0.06 1.07 0.30 0.39 0.18 0.21 0.02 0.37 0.30 0.75 1.26 1.00 0.04 0.04

La Imperial Labrador Gold* Labrador Gold Labrador IMH* Labrador IOR* Labrador IOR Lake Resources* Lara Expl Laramide Res Laredo Res* Largo Res* Largo Res Lasalle Explor* Lasalle Explor Latin Metals Laurion Mnl Ex Laurion Mnl Ex* Leading Edge Leading Edge* Leeta Gold Legion Metals Leo Res* Leocor Gold Leocor Gold* Leopard Lake Leviathan Gold Leviathan Gold* Li-Metal Libero Copper* Libero Copper Liberty Gold* Liberty One Li Lida Resources* Lido Minerals Lightspeed Dis Lincoln Mng Lion One Mtls Lion One Mtls* Lithium Amer Lithium Amer* Lithium Chile Lithium Chile* Lithium Corp* Lithium Energi* Lithium Energi Lithium South* Lithoquest Res Lode-Star Mg* Logan Res Lomiko Mtls Lomiko Mtls* Loncor Res* Loncor Res Lone Star Gold* Los Andes Los Andes* Lovitt Res Lovitt Res* Lucara Diam Lucky Min* Lucky Min Luckystrike * Luckystrike Lumina Gold* Lumina Gold Luminex Res Lundin Gold Lundin Mng* Lundin Mng Lupaka Gold * Lupaka Gold Lynas Corp* Lynas Corp*

C O V O O T O V T O D T O V V V O V O V C O C O C V O C O V O V O C V V V O T N V O O O V O V O V V O O T O V O V O T O V O V O V V T O T O V O O

372 519 691 166 110 2204 8606 82 3287 1196 674 552 25 1386 52 581 46 745 343 16417 1501 0 140 113 50 217 58 58 305 538 829 0 0 77 42 146 486 538 5720 19408 3426 707 1605 348 420 605 90 96 0 1276 669 9 95 22 157 4 89 390 424 108 2265 32 22 206 416 60 873 411 9867 303 141 1446 1659

0.05 0.79 0.95 0.10 31.06 39.74 0.66 0.54 0.66 0.01 8.43 10.73 0.08 0.09 0.11 0.98 0.78 0.66 0.52 2.61 0.18 0.03 0.38 0.31 0.15 0.14 0.13 9.10 0.41 0.50 0.83 0.00 0.36 0.30 0.05 0.12 1.16 0.93 34.14 27.04 0.98 0.78 0.26 0.20 0.24 0.67 0.10 0.04 0.00 0.09 0.07 0.52 0.65 0.11 13.10 10.57 0.16 0.12 0.62 0.06 0.08 0.32 0.38 0.46 0.57 0.43 9.62 8.54 10.74 0.03 0.04 6.86 6.93

Macarthur Min* Macarthur Min MacDonald Mns* MacDonald Mns Madeira Mrnls Madoro Metals* Madoro Metals MAG Silver Magellan Gold* Magna Gold Magna Gold* Magna Mining Magna Terra* Magna Terra Magnum Goldco Majestic Gold* Majestic Gold Major Precious* Makara Mining Makara Mining* Makena Res* Mako Mining* Mako Mining Mammoth Res * Mammoth Res Mandalay Res Mandalay Res*

O V O V V O V T O V O V O V V O V O C O O O V O V T O

72 285 246 536 0 75 173 1393 13 474 292 433 9 51 124 5 3047 156 586 143 181 963 1578 39 510 135 93

0.26 0.33 0.04 0.04 0.00 0.05 0.08 18.94 0.38 0.84 0.68 0.46 0.12 0.13 0.08 0.05 0.07 0.31 0.09 0.07 0.34 0.27 0.34 0.10 0.10 2.73 2.15

Low

Last

21

12-month Change

0.00 0.48 0.72 0.75 + 0.53 0.58 0.41 0.45 1.49 1.54 0.02 0.03 + 0.00 0.06 + 0.00 0.87 unch 0.21 0.22 0.12 0.12 0.15 0.15 0.00 1.00 unch 0.19 0.19 0.13 0.13 6.29 6.47 4.88 5.05 0.19 0.19 + 0.00 0.38 0.19 0.19 0.74 0.75 unch 0.00 0.71 + 0.29 0.30 0.00 0.48 + 2.98 3.04 0.00 0.00 0.09 0.10 + 0.00 0.12 unch 0.71 0.74 0.03 0.04 + 0.08 0.08 0.07 0.07 0.08 0.09 + 0.00 0.13 unch 0.00 0.11 unch 0.08 0.08 0.00 0.13 0.04 0.04 0.05 0.05 + 0.17 0.18 0.21 0.22 0.03 0.03 unch 0.00 0.04 0.00 0.10 0.00 0.11 0.08 0.08 unch 6.58 6.69 5.15 5.25 0.16 0.18 0.77 0.83 + 0.60 0.66 + 45.73 46.61 35.80 36.49 0.00 0.15 0.11 0.13 + 0.02 0.05 0.05 0.06 unch 0.95 1.01 0.27 0.29 0.34 0.35 0.13 0.15 0.18 0.19 0.00 0.02 unch 0.00 0.35 0.27 0.27 0.61 0.72 + 0.90 0.94 0.71 0.74 0.04 0.04 0.03 0.03 +

High Low

0.02 0.03 0.03 0.03 0.03 0.00 0.01 0.00 0.02 0.00 0.01 0.00 0.01 0.02 0.49 0.50 0.01 0.16 0.02 0.00 0.04 0.04 0.07 0.44 0.00 0.01 0.00 0.03 0.01 0.01 0.01 0.01 0.00 0.00 0.04 0.01 0.00 0.01 0.04 0.04 0.00 0.01 0.02 0.03 0.00 0.41 0.40 0.01 0.05 0.05 3.81 3.57 0.01 0.01 0.00 0.00 0.02 0.00 0.02 0.01 0.01 0.00 0.01 0.01 0.02 0.13 0.12 0.01 0.00

1.05 0.99 0.68 0.59 1.63 0.15 0.18 0.87 0.32 0.41 0.52 2.25 0.57 0.66 9.36 7.60 0.40 0.85 0.59 1.95 0.75 0.45 0.94 4.09 0.02 0.32 0.50 1.50 0.06 0.26 0.21 0.24 0.60 0.44 0.56 0.35 0.09 0.12 2.38 0.80 0.18 0.24 0.21 0.24 0.16 10.06 8.34 0.24 0.91 2.40 58.43 46.98 0.27 0.22 0.18 0.25 1.94 0.48 0.61 0.40 0.45 0.15 1.34 1.06 4.09 2.95 2.31 0.05 0.04

0.33 0.24 0.36 0.25 0.65 0.02 0.03 0.59 0.15 0.12 0.15 0.31 0.16 0.12 5.75 4.42 0.15 0.30 0.18 0.70 0.10 0.12 0.36 2.25 0.00 0.06 0.11 0.65 0.02 0.08 0.07 0.06 0.10 0.01 0.08 0.11 0.03 0.04 0.17 0.21 0.03 0.04 0.06 0.11 0.08 6.35 4.90 0.09 0.07 0.08 40.07 31.72 0.14 0.11 0.00 0.05 0.80 0.10 0.23 0.10 0.17 0.02 0.33 0.26 0.25 0.76 0.60 0.01 0.00

unch + + + + + + + unch unch + + + unch unch unch + unch + unch + + + unch unch unch unch + + unch unch unch -

0.00 0.10 0.11 0.00 1.19 2.14 0.07 0.02 0.01 0.00 0.06 0.27 0.00 0.01 0.01 0.00 0.06 0.07 0.05 0.09 0.00 0.00 0.00 0.02 0.00 0.01 0.01 0.88 0.04 0.05 0.09 0.00 0.04 0.04 0.01 0.04 0.02 0.01 0.18 0.51 0.15 0.09 0.02 0.02 0.00 0.11 0.00 0.00 0.00 0.01 0.01 0.02 0.04 0.00 1.04 0.75 0.04 0.02 0.01 0.01 0.00 0.00 0.03 0.05 0.05 0.04 0.31 0.28 0.18 0.00 0.00 1.08 1.00

0.10 1.50 1.85 0.53 42.40 50.45 0.86 0.85 1.12 0.09 18.71 22.96 0.18 0.23 0.24 1.07 0.83 0.72 0.57 7.25 0.34 0.36 1.00 1.47 0.16 0.99 0.65 15.01 0.73 0.89 1.50 0.90 1.02 0.41 0.35 0.25 1.67 1.35 53.09 41.56 1.15 0.92 1.22 0.41 0.33 0.92 0.15 0.28 0.37 0.28 0.22 0.97 1.16 4.20 13.01 10.57 0.60 0.27 1.00 0.54 0.15 0.80 0.80 0.71 0.92 0.94 12.93 13.11 16.07 0.07 0.08 8.35 8.43

0.05 0.24 0.30 0.02 24.66 31.24 0.16 0.48 0.25 0.00 7.39 9.39 0.07 0.08 0.10 0.18 0.14 0.19 0.15 1.91 0.16 0.00 0.33 0.25 0.12 0.12 0.09 3.05 0.27 0.34 0.66 0.33 0.22 0.17 0.05 0.10 0.97 0.77 14.46 11.84 0.26 0.21 0.20 0.01 0.08 0.29 0.06 0.04 0.19 0.08 0.06 0.41 0.52 0.07 5.50 4.39 0.13 0.10 0.50 0.05 0.06 0.26 0.30 0.40 0.52 0.40 8.82 6.66 8.56 0.00 0.03 3.60 3.61

0.23 0.23 0.00 0.29 0.03 0.03 + 0.00 0.04 unch 0.00 0.03 unch 0.05 0.05 unch 0.00 0.08 + 16.74 17.03 0.28 0.28 0.70 0.70 0.55 0.57 0.39 0.40 0.09 0.09 0.00 0.12 + 0.00 0.07 + 0.05 0.05 unch 0.07 0.07 unch 0.01 0.11 + 0.07 0.09 + 0.05 0.06 0.29 0.31 0.23 0.24 0.29 0.30 0.09 0.09 0.09 0.10 unch 2.28 2.49 + 1.79 1.92 unch

0.03 0.04 0.00 0.00 0.00 0.00 0.01 1.89 0.10 0.08 0.07 0.05 0.02 0.01 0.01 0.00 0.00 0.01 0.01 0.00 0.03 0.03 0.03 0.01 0.00 0.07 0.00

0.54 0.70 0.06 0.08 0.03 0.14 0.17 31.21 1.40 1.15 1.12 0.65 0.16 0.20 0.18 0.07 0.07 2.00 0.63 0.55 1.75 0.39 0.44 0.39 0.21 3.68 3.00

0.22 0.28 0.02 0.03 0.03 0.05 0.06 16.74 0.28 0.70 0.55 0.30 0.09 0.10 0.05 0.03 0.05 0.01 0.07 0.05 0.29 0.23 0.29 0.00 0.08 1.82 1.43

L 0.05 0.63 0.80 0.00 28.18 35.56 0.59 0.00 0.50 0.00 7.39 9.39 0.08 0.00 0.00 0.88 0.70 0.53 0.40 1.91 0.16 0.03 0.33 0.25 0.15 0.00 0.00 6.25 0.35 0.45 0.70 0.00 0.00 0.26 0.00 0.00 0.97 0.78 28.92 22.78 0.69 0.54 0.20 0.15 0.18 0.57 0.00 0.04 0.00 0.08 0.06 0.48 0.55 0.08 11.00 0.00 0.00 0.10 0.58 0.05 0.07 0.29 0.00 0.40 0.51 0.00 8.82 7.75 9.83 0.02 0.00 6.10 6.06

0.05 0.63 0.81 0.09 31.06 39.67 0.61 0.50 0.59 0.00 8.18 10.50 0.08 0.09 0.11 0.97 0.70 0.62 0.49 2.38 0.17 0.03 0.35 0.31 0.15 0.13 0.10 8.38 0.36 0.46 0.71 0.40 0.32 0.26 0.05 0.10 1.06 0.80 31.38 24.55 0.95 0.72 0.21 0.17 0.24 0.58 0.10 0.04 0.30 0.08 0.06 0.48 0.58 0.09 13.04 9.96 0.13 0.10 0.59 0.05 0.07 0.31 0.36 0.40 0.51 0.39 9.01 8.13 10.40 0.02 0.03 6.13 6.21

M

22

WWW.NORTHERNMINER.COM

FEBRUARY 7-20, 2022 / THE NORTHERN MINER

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

Exc Volume

Manganese X* Manganese X Mangazeya Mng Manitou Gold Manitou Gold * Manning Vent Mantaro Prec Mantaro Prec* Maple Gold* Maple Gold Marathon Gold* Marathon Gold Margaret Lake Marimaca Cop* Marimaca Cop Maritime Res Martina Mnls MartinMarietta* Marvel Discov* Marvel Discov Mas Gold Mascota Res* Masivo Silver Masivo Silver* Mason Graphite* Mason Graphite Matachewan Con Matica Ent Maverix Metals Maverix Metals* Mawson Res* Mawson Res MAX Res MaxTech Vent MaxTech Vent* Maxwell Res* Mayfair Gold* Mayfair Gold Mazarin McChip Res McEwen Mng* McEwen Mng McLaren Res MDN Inc* Mechel* Medallion Res Medallion Res* Medaro Mining Medaro Mining* Medgold Res* Medgold Res Medinah Mnrls* Mega Copper Mega Uranium Mega Uranium* MegaWatt Lith MegaWatt Lith* MegumaGold* MegumaGold Melkior Res Melkior Res* Meridian Mg Meridian Mg * Metal Energy MetalCorp* MetalCorp Metalex Vent Metalex Vent * Metallic Mnrls Metallic Mnrls* Metallica Met* Metallica Met Metallis Res Metallum Res Metalo Manuf Metalore Res Metals Creek* Metals Creek Metals X* Metron Capital Mexican Gold* MGX Minerals Midasco Cap Midland Expl Midnight Star Midnight Sun* Midnight Sun Millbank Mg MillenMin Vent Millennial Lit* Millennial Lit Millennial Pr* Millennial Pr Millennium Sil Millrock Res* Millrock Res Milner Con Slv Minaurum Gold Minaurum Gold* Minco Silver* Minco Silver Minera Alamos * Minera Alamos Minera IRL* Minera IRL Mineral Hill Mineral Mtn Mineral Mtn* Mineral Res* Mineworx Tech* Mineworx Tech Minfocus Expl Minnova Corp Minsud Res Mirasol Res Mistango River Mkango Res ML Gold* ML Gold Corp Monarca Mnrls* Monarca Mnrls Monarch Min* Monarch Mining Moneta Porcpn Moneta Porcpn* Mongoose Mg Monitor Vent Monitor Vent* Montage Gold Montage Gold* Monterey Min Montero Mg&Ex * Montero Mg&Ex Monument Mng Monument Mng* Monumental Min Morien Res* Morien Res Mosaic* Mosaic Min Mountain Boy* Mountain Boy Mountain Prov* Mountain Prov MPV Explor Mundoro Cap* Mundoro Cap Murchison Min* Murchison Min Musk Metals Musk Metals*

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

1630 2127 135 141 144 365 984 308 822 715 239 1984 93 6 356 533 15 3967 770 953 136 1 1 60 515 468 0 54 186 846 611 1156 349 258 152 1 7 262 2 7 9110 1133 706 21 1685 821 807 745 1690 524 33 11189 0 8786 1620 379 354 608 1198 102 45 1432 253 737 17 37 294 101 356 354 32 722 222 185 150 0 345 929 947 594 91 569 0 93 1975 122 136 0 0 253 833 920 2973 2060 164 293 66 279 449 8 106 2678 2764 11 131 0 530 221 4 746 435 6 116 9 446 1075 88 0 50 594 1393 190 248 222 127 25 0 0 202 83 63 57 44 285 25 69 55 64 26712 90 53 68 458 542 627 305 150 342 1289 521 149

NACCO Ind* Namibia Crit Namibia Crit* Natural Res Pt* Navis Res Corp* NEO Battery NEO Battery* Neometals* Network Expl Network Expl* Nevada Canyon* Nevada Copper* Nevada Copper Nevada Expl *

N V O N O V O O V O O O T O

35 120 322 197 45 2045 440 297 322 98 1 1158 3407 483

Week High

Low

Last

12-month Change

0.30 0.19 0.24 + 0.38 0.25 0.31 + 0.07 0.00 0.07 0.06 0.00 0.06 unch 0.06 0.05 0.05 0.12 0.08 0.08 0.23 0.16 0.19 0.15 0.14 0.14 0.25 0.23 0.23 0.32 0.30 0.31 2.39 2.11 2.16 3.02 2.68 2.76 0.30 0.00 0.29 2.95 2.70 2.70 3.73 3.24 3.50 0.14 0.13 0.13 0.07 0.00 0.07 + 384.92 361.53 382.83 + 0.10 0.08 0.09 + 0.11 0.10 0.10 unch 0.12 0.00 0.11 unch 2.60 0.00 2.50 + 0.10 0.00 0.10 unch 0.05 0.05 0.05 unch 0.47 0.38 0.44 0.58 0.50 0.56 0.00 0.00 0.18 unch 0.59 0.39 0.42 5.65 5.21 5.27 4.50 4.07 4.14 0.12 0.10 0.11 0.15 0.14 0.14 0.27 0.24 0.25 0.08 0.00 0.08 unch 0.06 0.06 0.06 0.06 0.06 0.06 unch 0.67 0.64 0.64 0.86 0.80 0.85 0.16 0.00 0.16 unch 0.91 0.00 0.70 0.96 0.81 0.82 1.21 1.04 1.04 0.06 0.05 0.06 unch 0.25 0.00 0.22 2.89 2.46 2.72 0.11 0.09 0.09 0.10 0.07 0.07 0.86 0.66 0.80 0.80 0.51 0.63 0.02 0.01 0.01 0.02 0.00 0.02 0.00 0.00 0.00 0.00 0.00 0.16 unch 0.32 0.24 0.31 + 0.25 0.19 0.24 + 0.22 0.16 0.20 + 0.18 0.12 0.15 0.04 0.03 0.03 0.04 0.04 0.04 0.37 0.00 0.32 0.28 0.27 0.27 + 1.09 0.88 0.96 0.85 0.68 0.75 0.19 0.15 0.17 0.01 0.01 0.01 unch 0.04 0.00 0.04 unch 0.04 0.00 0.04 + 0.04 0.03 0.03 0.48 0.42 0.42 0.39 0.33 0.33 0.10 0.09 0.09 0.14 0.12 0.12 0.28 0.23 0.25 0.09 0.00 0.08 0.28 0.18 0.18 0.00 0.00 2.25 unch 0.16 0.12 0.13 0.21 0.15 0.16 0.39 0.32 0.36 0.27 0.25 0.25 0.04 0.03 0.03 0.06 0.05 0.05 0.00 0.00 0.10 unch 0.51 0.49 0.51 + 0.40 0.30 0.37 + 0.24 0.19 0.20 0.31 0.24 0.25 0.00 0.00 0.60 unch 0.00 0.00 0.05 unch 3.14 2.69 3.14 4.06 0.00 4.04 + 0.41 0.33 0.34 0.51 0.42 0.44 0.01 0.00 0.01 unch 0.05 0.00 0.04 0.06 0.00 0.05 0.11 0.00 0.11 + 0.30 0.26 0.28 0.24 0.20 0.21 0.28 0.00 0.25 0.36 0.32 0.32 0.46 0.39 0.39 0.56 0.49 0.50 0.06 0.06 0.06 0.08 0.07 0.08 0.00 0.00 0.26 unch 0.12 0.10 0.11 unch 0.10 0.08 0.09 42.74 38.00 38.00 0.08 0.06 0.08 0.11 0.08 0.09 unch 0.35 0.00 0.35 + 0.15 0.14 0.14 0.24 0.00 0.24 + 0.54 0.48 0.53 + 0.07 0.07 0.07 0.49 0.42 0.49 0.00 0.00 0.07 unch 0.09 0.00 0.09 0.04 0.03 0.03 0.04 0.04 0.04 0.54 0.49 0.49 0.68 0.62 0.62 2.00 1.75 1.77 1.53 1.38 1.38 0.22 0.00 0.20 0.00 0.00 0.13 unch 0.00 0.00 0.09 unch 0.69 0.66 0.66 0.58 0.52 0.52 0.89 0.80 0.80 0.10 0.07 0.07 0.09 0.00 0.08 0.12 0.00 0.11 0.10 0.10 0.10 unch 0.36 0.00 0.35 unch 0.17 0.15 0.17 0.21 0.19 0.21 + 41.79 37.08 39.77 + 0.11 0.10 0.11 + 0.15 0.12 0.14 + 0.19 0.00 0.17 0.62 0.54 0.58 0.78 0.68 0.74 0.25 0.20 0.24 + 0.14 0.00 0.14 unch 0.19 0.00 0.18 + 0.12 0.08 0.10 0.15 0.12 0.13 0.07 0.05 0.06 unch 0.08 0.03 0.05 -

High Low

0.03 0.82 0.18 0.04 1.04 0.22 0.02 0.10 0.06 0.00 0.13 0.05 0.01 0.10 0.04 0.05 0.72 0.07 0.03 0.57 0.13 0.04 0.50 0.09 0.02 0.42 0.18 0.01 0.49 0.24 0.16 3.00 1.68 0.15 3.73 2.13 0.02 1.30 0.18 0.33 4.55 2.36 0.30 5.85 2.75 0.02 0.24 0.12 0.01 0.18 0.06 0.53 446.46 280.38 0.00 0.20 0.04 0.00 0.22 0.06 0.00 0.25 0.09 0.20 3.45 1.10 0.00 0.25 0.06 0.00 0.12 0.02 0.03 0.94 0.32 0.04 1.19 0.40 0.00 0.27 0.16 0.15 2.55 0.29 0.30 7.70 5.06 0.28 6.40 3.91 0.02 0.28 0.10 0.01 0.37 0.14 0.01 0.38 0.14 0.00 0.40 0.07 0.00 0.30 0.04 0.00 1.26 0.01 0.06 1.63 0.40 0.01 2.15 0.49 0.00 0.20 0.08 0.29 1.45 0.56 0.13 1.71 0.80 0.16 2.07 1.03 0.00 0.10 0.04 0.03 2.00 0.21 0.15 5.19 1.58 0.03 0.75 0.08 0.02 0.59 0.06 0.09 1.43 0.45 0.09 1.81 0.32 0.01 0.08 0.01 0.01 0.11 0.02 0.00 0.01 0.00 0.00 0.28 0.12 0.03 0.42 0.16 0.02 0.34 0.12 0.01 0.55 0.08 0.00 0.48 0.07 0.01 0.09 0.02 0.01 0.11 0.03 0.04 0.85 0.24 0.00 0.62 0.20 0.15 1.34 0.18 0.13 1.08 0.14 0.01 0.25 0.10 0.00 0.05 0.01 0.00 0.07 0.03 0.01 0.12 0.02 0.01 0.09 0.02 0.07 0.88 0.32 0.05 0.71 0.25 0.02 0.45 0.09 0.02 0.57 0.11 0.04 0.57 0.23 0.02 0.20 0.07 0.10 0.69 0.12 0.00 3.50 2.15 0.04 0.20 0.07 0.05 0.23 0.09 0.04 0.44 0.13 0.01 0.59 0.19 0.01 0.13 0.02 0.01 0.16 0.04 0.00 0.15 0.08 0.02 0.99 0.46 0.02 0.71 0.25 0.06 0.40 0.00 0.07 0.42 0.23 0.00 0.60 0.40 0.00 0.05 0.05 0.03 4.06 1.93 0.08 4.83 2.45 0.05 0.94 0.27 0.05 0.74 0.30 0.00 0.04 0.01 0.01 0.11 0.04 0.01 0.14 0.05 0.02 0.20 0.07 0.03 0.66 0.23 0.01 0.51 0.17 0.03 0.52 0.24 0.03 0.65 0.30 0.06 0.63 0.38 0.06 0.73 0.48 0.01 0.13 0.01 0.01 0.16 0.07 0.00 0.30 0.13 0.00 0.28 0.10 0.00 0.22 0.08 9.41 48.27 22.79 0.00 0.08 0.04 0.00 0.11 0.05 0.03 0.48 0.16 0.01 0.43 0.11 0.01 0.37 0.04 0.01 0.69 0.31 0.01 0.23 0.06 0.04 0.70 0.27 0.00 0.12 0.07 0.01 0.15 0.09 0.01 0.15 0.03 0.01 0.19 0.04 0.04 0.90 0.49 0.05 1.31 0.62 0.18 2.61 1.55 0.13 1.85 1.25 0.01 0.63 0.19 0.00 0.36 0.10 0.00 0.29 0.07 0.02 1.06 0.58 0.03 0.85 0.45 0.10 3.60 0.21 0.00 0.86 0.01 0.01 0.84 0.07 0.01 0.21 0.11 0.00 0.16 0.01 0.00 0.79 0.28 0.01 0.51 0.12 0.01 0.64 0.16 0.46 44.06 25.63 0.01 0.19 0.08 0.00 0.40 0.11 0.01 0.51 0.15 0.02 0.69 0.32 0.01 0.88 0.40 0.01 1.15 0.20 0.00 0.27 0.12 0.01 0.35 0.16 0.01 0.15 0.05 0.01 0.17 0.06 0.00 0.17 0.05 0.01 0.12 0.00

N-O 33.34 0.24 0.20 36.87 0.47 0.40 0.32 1.10 0.26 0.21 1.07 0.63 0.75 0.08

30.00 30.43 0.22 0.23 0.16 0.18 32.57 35.82 + 0.44 0.47 0.00 0.33 0.26 0.26 0.89 0.97 0.19 0.25 + 0.15 0.18 unch 0.00 1.07 unch 0.52 0.53 0.66 0.68 0.07 0.07 -

3.54 0.01 0.01 1.14 0.02 0.03 0.01 0.21 0.02 0.00 0.00 0.03 0.04 0.01

44.00 0.43 0.40 39.48 3.70 1.31 1.21 1.31 1.89 1.40 1.07 0.99 3.15 0.17

20.05 0.21 0.15 14.22 0.38 0.08 0.08 0.25 0.19 0.15 0.27 0.39 0.49 0.06

(100s) Stock

Exc Volume

Nevada Expl Nevada King* Nevada King Nevada Lithium Nevada Silver Nevada Sunrise Nevada Sunrise* Nevada Zinc Nevado Res NevGold* NevGold New Age Metals New Age Metals* New Destiny Mg* New Destiny Mg New Energy Met* New Energy Met New Found Gold New Gold New Gold* New Pac Metals New Pac Metals* New Placer New Placer* New Stratus New Target Mng New Tech Min* New Tech Min New World Res* Newcore Gold Newcore Gold* Newcrest Mg Newcrest Mg* Newlox Gold Newmac Res Newmont Corp* Newmont Corp Neworigin Gold* Neworigin Gold Newport Expl NewRange Gold* NewRange Gold Nexa Resources* Nexgen Energy Nexgen Energy* NextSource Mat Nexus Gold* Nexus Gold Nfld Discovery Nfld Discovery* NGEx Minerals NGEx Minerals* Nickel 28 Nickel 28* Nickel Creek* Nickel Creek Nickel North Nickel Rock Nickel Rock* Nicola Mg Inc Nicola Mg Inc* Nighthawk Gold* Nighthawk Gold Niobay Metals Niocan Inc Niocorp Dev Niocorp Dev* Nippon Dragon Nippon Dragon* Nobel Res Nobel Res* Noble Metal Noble Mineral Noble Mineral* Noka Res* Noram Vent Noram Vent* Norilsk Nickel* Noront Res* Noront Res Norra Metals Norrland Gold Norse Gold Norseman Silv Norsemont Cap* Norsemont Cap Nortec Mnls* Nortec Mnls North Am Nickl North Am Nickl* North Arrow Mn* North Arrow Mn North Bay Res * North Peak Res* North Peak Res North Valley Northcliff Res Northern Light Northern Light* Northern Uran Northisle C&G * Northisle C&G Northstar Gold Northstar Gold* Northwest Cop* Northwest Cop Norvista Cap NorZinc NorZinc* Nouveau Monde Nouveau Monde* NovaGold Res NovaGold Res* Novo Res Nrthn Graphite Nrthn Graphite* Nrthn Lion Nrthn Mnrls &E* Nrthn Shield Nrthn Superior Nrthn Superior* NSGold NSJ Gold NSS Res Inc Nthn Dynasty Nthn Dynasty* Nubian Res* Nubian Res Nuinsco Res Nuinsco Res* NuLegacy Gold NuLegacy Gold* Nutrien* Nutrien NV Gold* NV Gold O2Gold O3 Mining OceanaGold OceanaGold* Oceanic Iron O Oceanic Iron O* Oceanus Res Oceanus Res* Odyssey Res Olivut Res* Olivut Res Omai Gold Omai Gold* Omineca Mining* Omineca Mining One World Lith* One World Lith Opawica Expl Opawica Expl* Ophir Gold Ophir Gold* Optimum Vent* Optimum Vent Optimus Gold Opus One Gold Orca Gold* Orca Gold Ord Mountain Orea Mining* Orea Mining Orefinders Res Orestone Mng

V 505 O 1090 V 1034 C 618 V 208 V 3 O 194 V 946 V 0 O 31 V 338 V 1023 O 490 O 2 V 190 O 13 V 0 V 635 T 8819 X 54275 T 576 X 1124 V 683 O 306 V 755 V 50 O 15 C 1237 O 33 V 375 O 150 T 19 O 80 C 944 V 0 N 36761 T 1141 O 93 V 663 V 407 O 111 V 749 N 1010 T 11775 X 15821 T 1031 O 500 V 926 C 303 O 62 V 572 O 220 V 672 O 126 O 231 T 787 V 8 V 371 O 511 V 502 O 48 O 59 T 580 V 179 V 112 T 888 O 1222 V 465 O 95 V 8270 O 1353 V 135 V 1976 O 289 O 4 V 634 O 722 O 967 O 28 V 3766 V 1430 V 74 V 0 V 377 O 74 C 411 O 248 V 46 V 1140 O 501 O 93 V 581 O 138666 O 380 V 435 C 225 T 537 C 688 O 423 V 374 O 1137 V 1467 C 50 O 41 O 43 V 441 V 431 T 496 O 454 V 417 N 595 T 948 X 8824 T 2296 V 2172 O 804 V 0 O 98 V 503 V 237 O 175 V 21 C 26 C 16 T 614 X 14922 O 3 V 46 C 2209 O 123 V 1755 O 1443 N 15664 T 8820 O 91 V 274 V 521 V 916 T 9982 O 2 V 244 O 25 V 930 O 569 V 14 O 112 V 48 V 1005 O 76 O 229 V 294 O 274 C 1497 V 392 O 39 V 770 O 725 O 5 V 178 V 34 V 51 O 204 V 534 V 0 O 2692 T 2047 V 796 V 949

(100s) Stock

Week

12-month

High

Low

Last

Change

0.10 0.37 0.41 0.39 0.32 0.06 0.05 0.08 0.00 0.37 0.48 0.11 0.09 0.03 0.04 0.07 0.00 8.20 2.19 1.74 3.82 3.07 0.10 0.08 0.51 0.16 0.05 0.06 2.85 0.50 0.40 23.18 17.93 0.23 0.00 63.92 80.62 0.07 0.11 0.50 0.07 0.08 8.70 5.21 4.13 4.07 0.02 0.03 0.41 0.33 2.00 1.50 1.31 1.25 0.07 0.09 0.04 0.12 0.10 0.09 0.07 0.58 0.76 0.33 0.14 1.12 0.92 0.03 0.02 0.64 0.49 0.01 0.12 0.10 0.38 0.85 0.69 28.65 0.85 1.09 0.07 0.14 0.00 0.20 0.63 0.81 0.02 0.02 0.60 0.48 0.10 0.12 0.00 1.97 2.40 0.08 0.05 0.03 0.02 0.04 0.39 0.51 0.19 0.15 0.57 0.73 0.08 0.04 0.04 9.16 7.32 8.71 6.90 1.13 0.94 0.77 0.00 0.12 0.06 0.89 0.75 0.40 0.09 0.05 0.41 0.32 0.15 0.19 0.02 0.01 0.04 0.03 71.75 90.51 0.11 0.14 0.05 2.36 2.01 1.67 0.10 0.09 0.73 0.58 0.05 0.06 0.07 0.12 0.09 0.13 0.17 0.04 0.05 0.34 0.26 0.14 0.11 0.42 0.53 0.17 0.05 0.35 0.45 0.00 0.10 0.13 0.06 0.08

0.00 0.27 0.35 0.30 0.29 0.00 0.05 0.00 0.00 0.34 0.00 0.10 0.08 0.03 0.00 0.07 0.00 7.31 1.84 1.44 3.23 2.53 0.09 0.07 0.47 0.00 0.05 0.00 2.47 0.46 0.37 19.11 14.88 0.20 0.00 58.94 75.33 0.07 0.00 0.48 0.06 0.07 7.50 4.68 3.67 3.53 0.02 0.03 0.32 0.25 1.75 1.50 1.15 0.89 0.06 0.07 0.00 0.11 0.09 0.00 0.06 0.53 0.64 0.26 0.12 0.97 0.76 0.03 0.02 0.29 0.23 0.00 0.11 0.08 0.33 0.67 0.54 26.18 0.79 1.06 0.06 0.00 0.00 0.18 0.57 0.72 0.01 0.00 0.48 0.38 0.08 0.09 0.00 1.65 2.07 0.08 0.04 0.02 0.01 0.03 0.30 0.38 0.18 0.12 0.50 0.63 0.07 0.00 0.03 7.94 6.26 7.62 5.97 0.98 0.00 0.43 0.00 0.09 0.00 0.75 0.58 0.00 0.00 0.00 0.37 0.29 0.15 0.18 0.00 0.01 0.03 0.02 67.41 85.40 0.09 0.12 0.00 1.90 1.79 1.55 0.00 0.09 0.63 0.49 0.00 0.04 0.00 0.10 0.09 0.12 0.15 0.03 0.04 0.27 0.21 0.11 0.09 0.42 0.45 0.00 0.00 0.32 0.40 0.00 0.08 0.11 0.05 0.00

0.09 0.29 0.35 0.36 unch 0.30 0.06 unch 0.05 + 0.08 unch 0.11 unch 0.34 0.40 0.10 0.08 0.03 unch 0.04 0.07 + 0.11 unch 7.66 1.95 1.53 3.33 2.61 0.09 unch 0.07 + 0.51 + 0.15 0.05 unch 0.05 2.55 0.47 0.37 19.31 14.95 0.21 0.29 unch 59.86 76.41 0.07 0.10 0.49 0.06 0.08 7.93 4.96 3.90 3.64 0.02 0.03 0.37 0.28 1.75 1.50 unch 1.15 0.90 0.06 0.08 0.04 + 0.11 0.09 0.08 0.06 0.56 0.73 0.28 0.12 1.05 unch 0.83 0.03 unch 0.02 unch 0.30 0.24 0.01 unch 0.11 0.09 0.33 0.81 0.64 28.47 0.84 1.08 unch 0.06 0.14 unch 0.06 unch 0.19 0.57 0.72 0.01 0.02 0.58 unch 0.45 0.10 + 0.12 + 0.00 unch 1.68 2.10 0.08 unch 0.04 0.03 unch 0.02 0.04 unch 0.34 0.43 0.18 0.14 0.50 0.63 0.07 0.04 unch 0.03 8.31 6.53 7.85 6.15 1.07 0.69 0.55 + 0.36 unch 0.10 0.05 0.75 0.59 0.40 unch 0.07 0.05 0.40 0.31 0.15 0.18 0.02 + 0.01 + 0.03 0.02 68.58 87.58 0.10 0.12 0.05 unch 2.15 + 1.86 1.55 0.10 unch 0.09 unch 0.64 0.51 0.05 + 0.06 + 0.07 + 0.11 0.09 0.12 0.15 0.04 + 0.05 + 0.34 + 0.26 + 0.11 0.09 0.42 unch 0.50 0.17 + 0.05 + 0.32 0.41 0.20 unch 0.09 0.11 0.05 0.07 +

0.01 0.02 0.03 0.00 0.01 0.00 0.00 0.00 0.00 0.01 0.05 0.01 0.01 0.00 0.01 0.00 0.00 0.30 0.09 0.10 0.29 0.23 0.00 0.00 0.05 0.03 0.00 0.01 0.26 0.02 0.02 3.69 2.94 0.02 0.00 3.23 2.97 0.03 0.01 0.01 0.00 0.01 0.36 0.16 0.16 0.55 0.01 0.01 0.03 0.04 0.10 0.00 0.12 0.11 0.01 0.01 0.01 0.02 0.02 0.01 0.00 0.07 0.02 0.03 0.01 0.00 0.01 0.00 0.00 0.27 0.21 0.00 0.02 0.01 0.06 0.05 0.04 0.07 0.02 0.00 0.02 0.00 0.00 0.01 0.06 0.06 0.00 0.01 0.00 0.02 0.00 0.01 0.00 0.27 0.40 0.00 0.01 0.00 0.00 0.00 0.03 0.04 0.01 0.01 0.05 0.04 0.01 0.00 0.00 1.18 0.92 0.76 0.69 0.04 0.14 0.05 0.00 0.03 0.01 0.13 0.11 0.00 0.03 0.01 0.01 0.00 0.00 0.01 0.00 0.00 0.01 0.00 2.24 1.59 0.01 0.01 0.00 0.12 0.08 0.06 0.00 0.00 0.05 0.03 0.01 0.00 0.02 0.01 0.01 0.01 0.01 0.00 0.01 0.05 0.02 0.03 0.02 0.00 0.05 0.03 0.01 0.04 0.04 0.00 0.02 0.02 0.01 0.01

High Low 0.22 1.50 0.84 0.78 0.60 0.18 0.15 0.18 0.19 0.58 0.65 0.24 0.19 0.08 0.10 0.17 0.12 13.50 2.69 2.23 9.02 5.84 0.24 0.19 0.79 0.28 0.10 0.15 4.10 0.74 0.61 27.61 22.70 0.61 0.31 75.31 90.94 0.23 0.29 0.60 0.17 0.22 12.86 8.09 6.50 5.30 0.07 0.09 0.67 0.53 2.18 5.00 1.39 2.00 0.15 0.19 0.07 0.76 0.59 0.25 0.20 1.12 1.35 1.19 0.18 2.08 1.65 0.08 0.05 1.03 0.87 0.03 0.21 0.17 0.75 1.05 0.88 38.21 0.94 1.11 0.12 0.39 0.13 0.76 0.86 1.11 0.06 0.06 0.65 0.52 0.12 0.15 0.00 2.66 3.28 0.10 0.10 0.09 0.07 0.09 0.46 0.55 0.45 0.36 0.91 1.10 0.18 0.10 0.08 27.40 17.24 12.58 10.45 3.70 0.94 0.77 0.69 0.35 0.10 1.53 1.26 0.43 0.37 0.46 1.45 1.15 0.43 0.56 0.05 0.05 0.20 0.16 77.35 99.10 0.34 0.40 0.38 3.04 2.85 2.21 0.32 0.25 0.79 0.67 0.07 0.11 0.09 0.25 0.27 0.30 0.38 0.13 0.16 0.65 0.54 0.25 0.22 0.54 0.65 0.35 0.09 0.60 0.75 0.20 0.26 0.31 0.15 0.16

0.08 0.23 0.27 0.30 0.22 0.05 0.04 0.06 0.10 0.27 0.34 0.09 0.06 0.03 0.04 0.04 0.07 3.15 1.29 1.01 3.08 2.38 0.08 0.05 0.19 0.13 0.04 0.05 1.59 0.45 0.35 19.11 14.88 0.19 0.07 52.60 66.25 0.01 0.09 0.34 0.04 0.06 6.50 3.49 2.72 0.85 0.02 0.03 0.30 0.24 0.52 0.42 0.46 0.38 0.05 0.07 0.03 0.07 0.06 0.08 0.06 0.53 0.64 0.26 0.09 0.69 0.53 0.02 0.00 0.31 0.23 0.01 0.10 0.07 0.32 0.44 0.34 26.18 0.18 0.22 0.04 0.12 0.05 0.18 0.36 0.45 0.01 0.02 0.22 0.17 0.05 0.07 0.00 0.25 0.36 0.06 0.04 0.02 0.01 0.01 0.00 0.16 0.17 0.12 0.40 0.50 0.07 0.04 0.03 6.36 5.07 7.62 6.08 0.98 0.33 0.25 0.34 0.03 0.03 0.54 0.43 0.21 0.06 0.05 0.37 0.29 0.14 0.18 0.01 0.01 0.03 0.02 49.10 62.80 0.09 0.12 0.05 1.89 1.75 1.38 0.10 0.09 0.43 0.33 0.03 0.03 0.04 0.09 0.00 0.09 0.12 0.03 0.03 0.18 0.18 0.11 0.09 0.28 0.35 0.12 0.03 0.32 0.41 0.20 0.06 0.08 0.05 0.05

Orex Mnrls* Orex Mnrls Orezone Gold* Orezone Gold Orford Mining Origen Res* Origen Res Original Sixtn* Orla Mining Oroco Res* Oroco Res Orsu Metals Orvana Mnrls* Orvana Mnrls Osino Res* Osino Res Osisko Dev* Osisko Gold* Osisko Gold Osisko Metals* Osisko Metals Osisko Mng Inc Outback Gold* Outcrop S&G Outcrop S&G* OZ Minerals*

Exc Volume

Week Low

0.06 0.06 0.00 0.09 unch 0.88 0.91 1.12 1.16 0.00 0.18 + 0.00 0.20 unch 0.21 0.24 + 1.00 1.50 + 4.11 4.15 1.51 1.54 1.93 1.98 0.00 0.21 unch 0.24 0.25 0.31 0.33 0.85 0.86 + 1.08 1.10 + 3.22 3.32 10.64 10.84 13.60 13.84 0.29 0.30 + 0.36 0.37 unch 3.98 4.19 + 0.18 0.19 0.20 0.23 + 0.16 0.18 + 17.83 17.91 -

O V O T V O C O T O V V O T O V O N T O V T O V O O

189 77 259 861 205 0 168 423 2167 569 771 9 123 100 112 339 80 4748 2314 122 327 6392 12 1254 875 14

0.07 0.09 1.00 1.26 0.18 0.00 0.24 1.50 5.13 1.71 2.17 0.21 0.28 0.37 0.95 1.18 3.95 11.62 14.68 0.30 0.39 4.34 0.21 0.26 0.22 20.00

P2 Gold* O P2 Gold V Pac Arc Res V Pac Bay Mnrls V Pac Booker Min* O Pac Booker Min V Pac Imperial V Pac Ridge Expl V Pac Ridge Expl* O Pacific Empire* O Pacific Empire V Pacific Silk V Pacton Gold V Paladin Energy* O Palamina Corp V Palamina Corp* O Palayan Res* O Paleo Resource V Paleo Resource* O Palladium One V Palladium One* O Pampa Metals* O Pampa Metals C Pan Am Silver T Pan Am Silver* D Pan Global Res V Pan Global Res* O Pancontinental* O Pancontinental V Pangolin Dia V Panoro Mnrls* O Panoro Mnrls V Pantera Silver V PanTerra Gold* O Pantheon Vent V Para Resources V Parallel Mng V Paramount Gold* X Parlane Res V Pasinex Res C Pasofino Gold* O Pasofino Gold V Patriot Gold C Patriot Gold* O Peabody Enrgy* N Pegasus Res V Pegasus Res* O Pelangio Expl* O Pelangio Expl V Peloton Mnrls C Peloton Mnrls* O PepinNini Lith* O Perpetua Res T Perpetua Res* D Perseus Mng T Pershimex Res V Pershing Res* O Peruvian Metal* O Peruvian Metal V Petra Diamonds* O Petrolympic* O Petrolympic V Phenom Res V Phenom Res* O Philippine Mtl V Phoenix Global* O Phoenix Gold V Phoenix Metals V Pine Cliff En* O Pine Cliff En T Pivit Explor C PJSC Polyus Gd* O PJX Res V Plata Latina V Platinex Inc* O Platinex Inc C Platinum Gp Mt T Platinum Gp Mt* X Plato Gold V Playfair Mng V Playfair Mng* O PNG Copper C PolyMet Mng* X PolyMet Mng T Portofino Res* O Portofino Res V Power Group V Power Group* O Power Metals* O Power Metals V PPX Mining* O Precipitate Gl V Precipitate Gl* O Pretium Res* N Pretium Res T Prime Meridian V Prime Mining* O Prime Mining V Prism Res V Prismo Metals C ProAm Expl V Probe Metals* O Probe Metals V Prog Planet* O Prog Planet V Prospect Ridge C Prosper Gold V Provenance Gld C Providence V Providence Gld* O Pucara Gold V Pucara Gold* O PUF Vent Inc * O Puma Expl* O Puma Expl V Pure Alumina* O Pure Energy* O Pure Energy V Pure Gold Mg* O Pure Gold Mg V Purepoint Uran V Q-Gold Res* O Q-Gold Res V QC Copper V QC Copper* O QC Precious * O QC Precious V QcX Gold V QcX Gold* O QMC Quantum Ml* O QMC Quantum Ml V QNB Metals C Quadro Res* O Quadro Res V Quantum Batt C Quantum Batt* O Quartz Mtn Res* O Quartz Mtn Res V Quebec Nickel C Quebec Silica C Questex Gold* O Questex Gold V

90 140 20 2 17 35 138 417 210 0 390 0 330 6814 293 170 2786 62 356 2753 228 3 576 3158 16436 401 56 332 618 337 104 190 147 30 246 290 0 749 431 69 12 22 200 57 26314 938 160 150 175 159 36 8 134 633 400 1307 76 1 66 0 236 91 357 491 0 1 382 351 638 1577 64 15 380 133 21 1724 775 4327 135 170 163 82 791 44 272 472 385 10 195 1303 12 192 99 4323 1355 0 43 746 7 19 11 243 159 9 403 836 61 609 61 150 24 150 37 22 668 20 285 231 1424 4775 6172 13 140 1789 1005 21 123 562 30 95 177 4 471 609 219 5 1 0 294 566 34 347

0.53 0.65 0.20 0.09 3.53 4.50 0.02 0.39 0.31 0.00 0.04 0.00 0.47 0.55 0.16 0.13 0.17 0.02 0.02 0.23 0.19 0.23 0.30 29.90 23.70 0.86 0.68 0.09 0.11 0.02 0.16 0.18 0.24 0.05 0.11 0.41 0.00 0.70 0.13 0.04 0.61 0.70 0.05 0.06 11.88 0.05 0.04 0.11 0.13 0.07 0.06 0.39 4.99 3.95 1.46 0.04 0.04 0.15 0.19 1.16 0.07 0.09 0.52 0.43 0.00 0.74 1.02 0.18 0.56 0.71 0.25 84.70 0.18 0.03 0.04 0.05 2.22 1.76 0.03 0.11 0.10 0.09 2.86 3.55 0.11 0.14 0.03 0.03 0.18 0.22 0.01 0.14 0.12 14.45 18.23 0.00 3.16 4.00 0.08 0.39 0.08 1.75 2.20 0.32 0.39 0.48 0.47 0.16 0.06 0.06 0.12 0.08 0.44 0.30 0.40 0.01 1.07 1.34 0.56 0.69 0.09 0.07 0.11 0.32 0.25 0.18 0.23 0.06 0.04 0.21 0.27 0.09 0.04 0.05 0.93 0.70 0.17 0.00 0.25 0.09 0.68 0.86

0

0.00

Last

12-month

High

Change

Stock

0.00 0.00 0.14 0.13 0.01 0.00 0.01 0.45 0.65 0.14 0.11 0.00 0.04 0.04 0.01 0.02 0.48 0.75 0.74 0.01 0.00 0.05 0.02 0.02 0.01 2.41

0.17 0.22 1.39 1.70 0.27 0.33 0.55 1.50 6.12 3.02 3.66 0.34 0.39 0.54 1.40 1.61 8.00 15.12 18.40 0.42 0.52 4.35 1.22 0.53 0.40 21.04

0.06 0.08 0.69 0.87 0.13 0.20 0.17 0.06 3.71 1.32 1.68 0.20 0.18 0.23 0.77 1.01 3.06 9.77 12.39 0.27 0.35 2.33 0.15 0.14 0.11 14.31

0.44 0.52 0.20 unch 0.09 unch 3.40 + 3.82 + 0.02 unch 0.33 0.26 0.03 unch 0.04 unch 0.03 unch 0.42 0.48 0.13 0.11 0.13 0.02 unch 0.02 + 0.20 0.16 0.21 0.30 + 26.98 21.13 0.78 0.62 0.07 0.09 0.01 0.14 0.18 0.23 0.05 0.11 + 0.38 + 0.15 unch 0.64 0.12 0.04 0.55 0.70 unch 0.05 0.06 unch 11.23 + 0.05 unch 0.04 0.11 unch 0.12 0.07 unch 0.05 0.39 unch 4.44 3.44 1.29 0.04 unch 0.03 0.15 unch 0.17 1.16 + 0.07 + 0.08 + 0.50 0.39 0.10 unch 0.74 0.97 + 0.16 0.56 + 0.71 + 0.21 75.34 0.17 unch 0.03 unch 0.04 + 0.05 unch 1.95 1.54 0.03 unch 0.11 + 0.07 0.08 2.47 3.11 0.10 0.12 unch 0.03 0.03 unch 0.17 0.21 0.01 unch 0.13 0.09 13.41 17.17 0.12 unch 2.72 3.51 0.08 0.31 0.08 unch 1.47 1.85 0.29 0.38 0.35 0.43 0.15 unch 0.06 unch 0.06 unch 0.11 + 0.08 unch 0.36 0.30 + 0.39 + 0.01 unch 0.92 1.19 0.44 0.57 0.09 + 0.07 0.11 unch 0.27 0.21 0.17 0.23 + 0.05 0.04 0.19 0.25 + 0.09 unch 0.03 0.04 0.80 0.70 + 0.17 unch 0.24 unch 0.25 0.07 0.67 + 0.86 +

0.06 0.13 0.00 0.00 0.62 0.27 0.00 0.03 0.02 0.00 0.00 0.00 0.05 0.08 0.04 0.03 0.01 0.00 0.00 0.05 0.04 0.02 0.02 2.58 2.38 0.08 0.07 0.01 0.01 0.01 0.01 0.02 0.04 0.00 0.01 0.03 0.00 0.03 0.01 0.01 0.05 0.00 0.02 0.00 0.48 0.00 0.00 0.00 0.01 0.00 0.01 0.00 0.40 0.41 0.06 0.00 0.01 0.00 0.02 0.06 0.00 0.01 0.04 0.04 0.00 0.01 0.09 0.01 0.03 0.03 0.04 5.66 0.00 0.00 0.00 0.00 0.23 0.19 0.00 0.01 0.01 0.01 0.01 0.05 0.01 0.00 0.01 0.00 0.02 0.02 0.00 0.01 0.01 1.08 1.06 0.00 0.32 0.39 0.01 0.08 0.00 0.28 0.35 0.02 0.02 0.07 0.04 0.00 0.00 0.00 0.01 0.00 0.05 0.02 0.03 0.00 0.15 0.24 0.09 0.10 0.01 0.00 0.00 0.05 0.05 0.02 0.01 0.01 0.02 0.00 0.01 0.00 0.00 0.01 0.12 0.02 0.00 0.00 0.01 0.02 0.00 0.02

1.00 0.83 0.26 0.18 3.90 4.99 0.08 0.42 0.38 0.06 0.08 0.06 0.96 0.80 0.37 0.36 0.53 0.04 0.10 0.40 0.32 1.07 0.72 50.70 39.62 0.87 0.70 0.16 0.20 0.05 0.18 0.23 0.34 0.07 1.02 0.65 0.15 1.59 0.84 0.09 2.09 2.52 0.28 0.22 19.83 0.10 0.10 0.17 0.22 0.12 0.09 0.53 11.57 9.45 1.69 0.07 0.10 0.18 0.22 1.24 0.12 0.15 0.85 1.10 0.10 1.29 1.02 0.55 0.72 0.90 0.38 123.00 0.25 0.06 0.06 0.08 6.96 5.49 0.05 0.30 0.29 0.26 5.41 6.71 0.20 0.23 0.16 0.10 0.35 0.43 0.50 0.24 0.20 14.79 18.57 0.17 4.15 5.24 0.14 0.61 0.11 1.85 2.30 0.48 0.60 2.75 2.28 0.18 0.11 0.10 0.36 0.30 11.40 0.50 0.64 0.02 2.11 2.60 1.99 2.35 0.20 0.34 0.43 0.47 0.37 0.27 0.33 0.26 0.21 0.43 0.52 0.25 0.13 0.16 5.85 5.85 0.29 0.36 0.41 0.27 1.07 1.37

0.28 0.34 0.14 0.08 1.37 1.73 0.02 0.08 0.07 0.02 0.03 0.02 0.38 0.20 0.13 0.11 0.03 0.01 0.01 0.17 0.13 0.19 0.26 26.52 20.74 0.43 0.00 0.06 0.08 0.01 0.08 0.11 0.12 0.05 0.09 0.27 0.15 0.53 0.11 0.02 0.46 0.61 0.05 0.03 2.61 0.04 0.02 0.07 0.09 0.06 0.04 0.19 4.18 3.25 0.99 0.04 0.01 0.02 0.08 0.01 0.05 0.04 0.35 0.25 0.06 0.40 0.25 0.16 0.20 0.24 0.13 72.90 0.15 0.02 0.03 0.04 1.83 1.49 0.03 0.09 0.00 0.05 2.42 3.05 0.06 0.08 0.03 0.02 0.13 0.17 0.00 0.07 0.06 8.29 10.40 0.06 1.47 1.80 0.04 0.19 0.06 0.99 1.26 0.25 0.24 0.20 0.43 0.08 0.06 0.00 0.11 0.05 0.35 0.12 0.15 0.01 0.70 0.90 0.43 0.57 0.06 0.07 0.08 0.15 0.11 0.15 0.20 0.05 0.04 0.14 0.18 0.05 0.03 0.05 0.55 0.20 0.00 0.12 0.10 0.05 0.43 0.50

Radisson Mng Radius Gold Rain City Raindrop Vent Rainforest Res* Rainy Mtn Royl Rainy Mtn Royl* Rambler Metals* Rare Element* Rathdowney Res Razore Rock Res Ready Set Gold* Ready Set Gold Recharge Res* Recharge Res Red Pine Expl Regulus Res Remington Res Renforth Res* Renforth Res Resolve Vent Reunion Gold Reunion Gold* Revival Gold Revival Gold * Rex Res Reyna Silver* Reyna Silver Rhyolite Res Richmond Mnls Ridgeline Min Ridgestone M’g* Ridgestone M’g Riley Gold* Riley Gold Rio Silver Rio Silver* Rio Tinto* Rio Tinto* Rio Tinto* Rio2 Limited Rio2 Limited* Rise Gold Corp* Rise Gold Corp Riverside Res* Riverside Res RJK Explor* RJK Explor Robex Res Rochester Res* Rochester Res Rock Tech Lith* Rock Tech Lith Rockcliff Met* Rockcliff Met Rockhaven Re* Rockhaven Res Rockland Res Rockridge Res Rockwealth Res Rogue Res* Rogue Res Rojo Res* Rokmaster Res* Rokmaster Res Romios Gold Rs Romios Gold Rs* RooGold* RooGold RosCan Gold* RosCan Gold Ross River Rover Metals* Rover Metals Royal Fox Gold Royal Gold* Royal Rd Mnrls RT Minerals* RT Minerals RTG Mining RTG Mining * RTG Mining* Rugby Mng Running Fox Rs Rupert Res Rupert Res* Rusoro Mng Rusoro Mng*

V V C C O V O O O V C O C O V V V V O C V V O V O V O V V V V O V O V V O O N O V O O C O V O V V O V O V O C O V C V V O V O O V V O O C O V V O V V D V O V T O O V V V O V O

0.41 unch

0.00

S2 Minerals Sabina Gd&Slvr* Sabina Gd&Slvr Sable Res Sable Res* Sailfish Rylty Saint Jean Saint Jean* Salazar Res* Salazar Res Sama Res Sama Res* Samco Gold San Lorenzo Sanatana Res Sanatana Res* Sandfire Res* Sandfire Res Sandstorm Gold* Sandstorm Gold Santacruz Silv Sarama Res Sassy Res* Sassy Res Satori Res Satori Res* Saturn Mnrls Savannah Min Saville Res Scandium Intl* Scandium Intl Scorpio Gold Scorpio Gold * Scotch Creek Scotch Creek* Scottie Res* Scottie Res ScoZinc Mg Seabridge Gld Seabridge Gld* Seahawk Gold* Seahawk Gold Search Mnls Search Mnls* Searchlight* SearchlightRes Secova Metals* Secova Metals Sego Res Select Sands Sennen Potash Serabi Gold* Serabi Gold Sherritt Intl Shine Minerals Sibanye-Stillw* Sibanye-Stillw* Sidney Resrces* Sienna Res* Sienna Res Sierra Grande Sierra Grande* Sierra Madre G* Sierra Madre G Sierra Metals Sierra Metals* Sigma Lithium* Sigma Lithium Signature Res Signature Res* Silver Bear Rs* Silver Bear Rs Silver Bull Re Silver Bull Re* Silver Dollar Silver Dollar* Silver Eleph* Silver Eleph Silver Grail Silver Hammer* Silver Hammer Silver One* Silver One Silver Predatr*

C O T V O V V O O V V O V V V O O V N T V V O C V O V V V O T V O C O O V V T N O C V O O V O C V V V O T T V O N O O V C O O V T X D V V O O T T O C O O T V O C O V O

P-Q 0.44 0.52 0.00 0.00 2.65 3.30 0.00 0.32 0.26 0.00 0.00 0.00 0.00 0.46 0.00 0.11 0.11 0.00 0.01 0.20 0.15 0.00 0.26 26.52 20.74 0.78 0.62 0.07 0.09 0.00 0.14 0.00 0.22 0.00 0.09 0.00 0.00 0.53 0.11 0.04 0.55 0.00 0.00 0.00 9.83 0.04 0.03 0.11 0.12 0.06 0.05 0.39 4.18 3.25 1.27 0.04 0.03 0.15 0.00 0.00 0.07 0.00 0.49 0.38 0.00 0.00 0.81 0.00 0.49 0.62 0.19 72.90 0.00 0.00 0.00 0.04 1.83 1.44 0.00 0.10 0.07 0.06 2.41 3.10 0.09 0.12 0.00 0.03 0.16 0.21 0.01 0.11 0.09 13.23 16.90 0.00 2.53 3.22 0.00 0.31 0.00 1.44 1.84 0.29 0.36 0.33 0.42 0.14 0.00 0.06 0.00 0.08 0.36 0.28 0.33 0.01 0.83 1.13 0.43 0.56 0.08 0.00 0.00 0.26 0.20 0.16 0.00 0.05 0.04 0.18 0.22 0.00 0.03 0.04 0.75 0.00 0.00 0.00 0.20 0.06 0.67 0.82

R Rackla Metals

V

0.00

(100s)

High Low

0.50 0.16

Exc Volume

Week

12-month

High

Low

Last

Change

High Low

1084 235 356 202 32 85 90 6 911 0 5 51 1448 566 2507 427 339 0 35 964 258 3020 681 199 291 0 639 715 132 169 248 872 387 39 344 37 150 11 23972 5 915 1052 16 16 138 698 20 237 833 45 27 105 702 15 266 10 138 404 245 249 3 10 978 100 638 125 50 102 68 913 1339 0 139 833 1556 4303 260 1000 524 70 35 20 12 50 154 22 161 131

0.27 0.40 0.05 0.33 2.85 0.24 0.14 0.46 1.39 0.00 0.11 0.08 0.12 0.04 0.04 0.49 1.08 0.00 0.06 0.08 0.12 0.19 0.15 0.69 0.54 0.00 0.59 0.75 0.80 0.04 0.41 0.04 0.04 0.25 0.30 0.07 0.05 75.98 76.38 80.96 0.68 0.55 0.43 0.52 0.14 0.18 0.10 0.13 0.35 0.03 0.04 4.27 5.51 0.05 0.07 0.10 0.11 0.21 0.10 0.39 0.10 0.11 0.56 0.24 0.31 0.05 0.04 0.19 0.24 0.31 0.37 0.00 0.04 0.05 0.06 104.06 0.32 0.03 0.05 0.12 0.38 0.12 0.14 0.02 5.50 4.26 0.05 0.04

0.23 0.33 0.05 0.28 2.23 0.00 0.14 0.00 1.12 0.00 0.11 0.08 0.10 0.03 0.03 0.42 0.95 0.00 0.06 0.07 0.11 0.18 0.13 0.62 0.49 0.00 0.52 0.66 0.00 0.00 0.00 0.03 0.00 0.20 0.25 0.00 0.05 69.53 70.85 74.98 0.60 0.48 0.39 0.49 0.13 0.16 0.09 0.11 0.26 0.00 0.00 3.42 4.26 0.05 0.06 0.08 0.00 0.19 0.09 0.33 0.08 0.00 0.37 0.20 0.25 0.00 0.04 0.15 0.20 0.23 0.30 0.00 0.03 0.04 0.00 97.96 0.29 0.03 0.00 0.00 0.19 0.12 0.00 0.00 4.99 3.92 0.00 0.04

0.25 0.33 0.05 0.28 2.25 0.17 0.14 unch 0.46 unch 1.22 0.04 unch 0.11 unch 0.08 unch 0.11 unch + 0.03 0.04 0.44 0.99 0.21 unch + 0.06 0.07 0.11 0.19 unch + 0.15 0.63 0.51 0.14 unch 0.53 0.67 0.70 0.04 unch 0.37 0.03 0.04 0.22 0.30 + 0.07 0.05 unch 71.29 73.13 77.75 0.62 0.49 0.42 + 0.50 0.13 0.17 unch 0.09 0.12 0.29 0.03 0.04 3.96 5.12 0.05 unch 0.07 unch 0.08 0.10 0.20 0.10 unch 0.37 unch 0.08 0.11 unch 0.47 0.20 0.26 0.04 + 0.04 0.18 + 0.24 0.24 0.34 0.26 unch 0.03 0.05 unch 0.05 unch 99.30 0.30 0.03 unch 0.04 0.10 0.19 unch 0.12 unch 0.14 0.02 unch 5.00 3.92 0.05 0.04 unch

0.02 0.04 0.02 0.05 0.74 0.07 0.00 0.00 0.09 0.00 0.00 0.00 0.00 0.00 0.01 0.05 0.09 0.00 0.00 0.01 0.01 0.00 0.00 0.03 0.01 0.00 0.04 0.04 0.12 0.00 0.04 0.00 0.01 0.05 0.02 0.01 0.00 2.09 1.23 2.86 0.04 0.05 0.00 0.01 0.00 0.00 0.00 0.01 0.06 0.00 0.01 0.10 0.01 0.00 0.00 0.01 0.01 0.02 0.00 0.00 0.02 0.00 0.04 0.04 0.05 0.01 0.00 0.00 0.01 0.06 0.05 0.00 0.01 0.00 0.00 2.95 0.04 0.00 0.01 0.02 0.00 0.00 0.02 0.00 0.35 0.38 0.01 0.00

0.35 0.40 0.12 0.50 3.80 0.26 0.15 2.00 4.13 0.06 0.25 0.15 0.45 0.53 0.19 0.95 1.40 0.37 0.11 0.12 0.13 0.19 0.15 0.87 0.67 0.39 1.06 1.35 1.70 0.07 0.77 0.18 0.23 0.61 0.74 0.11 0.11 94.42 95.97 108.00 0.90 0.75 0.65 0.81 0.20 0.25 0.23 0.28 0.54 0.13 0.15 7.53 9.38 0.07 0.10 0.14 0.19 0.29 0.19 0.39 0.10 0.16 1.53 0.46 0.58 0.06 0.05 0.60 0.60 0.80 0.64 0.26 0.12 0.12 0.12 129.69 0.40 0.14 0.18 0.23 0.38 0.12 0.16 0.06 6.08 5.10 0.14 0.09

0.19 0.20 0.04 0.18 1.69 0.10 0.09 0.00 0.73 0.02 0.08 0.04 0.08 0.00 0.03 0.35 0.70 0.21 0.05 0.06 0.04 0.06 0.04 0.50 0.40 0.13 0.44 0.55 0.60 0.03 0.30 0.03 0.04 0.20 0.23 0.04 0.01 58.62 59.58 63.01 0.53 0.40 0.28 0.36 0.10 0.13 0.01 0.11 0.28 0.03 0.04 2.65 3.00 0.04 0.05 0.00 0.10 0.11 0.09 0.10 0.06 0.07 0.32 0.20 0.27 0.04 0.02 0.14 0.20 0.11 0.23 0.26 0.03 0.04 0.04 92.01 0.24 0.03 0.04 0.09 0.07 0.08 0.07 0.02 3.44 2.00 0.04 0.03

113 788 2273 1574 448 51 143 30 171 236 305 53 0 492 22 108 231 117 11818 1252 1263 726 113 1078 1210 132 209 0 378 288 202 116 201 214 152 322 596 31 335 1428 112 4 578 114 18 92 5 2303 550 1 0 300 50 7453 0 8 16581 722 294 1340 119 0 69 361 545 3164 1005 164 811 936 502 435 167 476 176 159 906 236 15 724 692 1918 889 3

0.16 1.12 1.41 0.19 0.15 1.57 0.15 0.11 0.25 0.31 0.17 0.13 0.00 0.11 0.15 0.12 0.18 0.22 6.35 8.00 0.33 0.17 0.47 0.57 0.16 0.12 3.69 0.00 0.04 0.13 0.15 0.09 0.07 0.77 0.63 0.14 0.18 0.67 21.49 17.07 0.28 0.45 0.20 0.16 0.07 0.09 0.09 0.11 0.12 0.05 0.00 0.00 1.01 0.56 0.00 4.13 15.75 0.23 0.10 0.12 0.08 0.00 0.42 0.56 1.73 1.36 9.78 12.30 0.08 0.06 0.10 0.12 0.35 0.28 0.74 0.59 0.22 2.40 0.15 0.58 0.72 0.35 0.44 0.13

0.15 1.00 1.30 0.17 0.13 1.46 0.14 0.10 0.22 + 0.30 + 0.17 + 0.13 0.05 unch 0.09 0.15 unch 0.12 unch 0.17 0.20 unch 5.83 7.42 0.29 0.16 0.42 0.55 0.14 0.10 + 3.45 0.25 unch 0.04 unch 0.11 0.14 0.08 0.06 0.73 0.54 0.13 0.17 0.65 19.90 15.60 0.28 unch 0.45 unch 0.18 0.14 0.06 0.08 + 0.08 0.10 + 0.11 0.05 unch 0.45 unch 0.85 unch 0.96 0.51 0.13 unch 3.45 14.19 + 0.22 0.08 0.12 unch + 0.06 0.03 unch 0.32 0.42 + 1.58 + 1.26 9.66 + 12.30 0.07 0.06 + 0.09 0.10 unch 0.32 0.25 0.68 0.52 0.22 unch 1.68 0.14 0.46 0.58 0.31 0.40 + 0.13

0.01 0.06 0.05 0.03 0.02 0.11 0.01 0.01 0.01 0.02 0.02 0.01 0.00 0.04 0.00 0.00 0.00 0.00 0.29 0.30 0.03 0.01 0.05 0.04 0.01 0.03 0.14 0.00 0.00 0.03 0.01 0.01 0.02 0.02 0.07 0.01 0.01 0.04 1.24 1.21 0.00 0.00 0.02 0.01 0.00 0.01 0.00 0.02 0.01 0.00 0.00 0.00 0.08 0.04 0.00 0.25 1.01 0.02 0.01 0.00 0.01 0.00 0.11 0.13 0.06 0.04 0.07 0.33 0.01 0.00 0.01 0.00 0.02 0.02 0.04 0.06 0.00 0.47 0.03 0.06 0.07 0.01 0.01 0.03

0.30 2.37 2.99 0.40 0.35 1.65 0.24 0.19 0.32 0.42 0.20 0.16 0.05 0.30 0.25 0.19 0.22 0.27 9.31 11.34 0.58 0.32 0.82 0.92 0.18 0.14 4.49 0.35 0.09 0.22 0.28 0.17 0.14 0.98 2.88 0.25 0.32 0.80 26.21 20.87 1.24 1.05 0.37 0.40 0.09 0.11 0.25 0.22 0.16 0.10 0.45 1.56 1.64 0.70 0.17 7.72 20.68 0.28 0.14 0.17 0.35 0.28 0.79 1.07 4.83 3.92 12.30 15.25 0.22 0.20 0.16 0.20 1.55 1.25 2.27 1.77 4.60 5.90 0.25 0.86 1.08 0.75 0.94 0.23

0.13 0.95 1.23 0.16 0.12 1.00 0.06 0.04 0.21 0.21 0.12 0.09 0.05 0.08 0.07 0.06 0.13 0.17 5.31 6.86 0.22 0.15 0.28 0.35 0.10 0.08 2.10 0.20 0.03 0.04 0.12 0.08 0.06 0.17 0.18 0.12 0.16 0.45 18.85 14.85 0.16 0.20 0.07 0.01 0.03 0.06 0.00 0.09 0.03 0.03 0.45 0.00 0.89 0.36 0.09 2.75 11.15 0.03 0.06 0.08 0.05 0.03 0.32 0.41 1.42 1.13 3.02 3.84 0.07 0.05 0.00 0.08 0.29 0.24 0.56 0.38 0.17 1.51 0.11 0.26 0.25 0.28 0.36 0.07

S 0.15 0.99 1.25 0.17 0.13 0.00 0.13 0.10 0.22 0.28 0.00 0.11 0.00 0.00 0.00 0.12 0.15 0.00 5.70 7.30 0.28 0.00 0.39 0.48 0.00 0.10 3.16 0.00 0.00 0.10 0.14 0.00 0.06 0.64 0.50 0.13 0.16 0.00 19.59 15.33 0.28 0.37 0.17 0.14 0.06 0.00 0.08 0.09 0.10 0.00 0.00 0.00 0.00 0.45 0.00 3.21 13.84 0.18 0.08 0.10 0.05 0.00 0.32 0.40 1.42 1.13 8.39 10.72 0.00 0.05 0.08 0.09 0.29 0.24 0.65 0.51 0.22 1.62 0.00 0.46 0.58 0.29 0.37 0.09

GLOBAL MINING NEWS

(100s) Stock Silver Predatr Silver Range* Silver Range Silver Sands* Silver Sands Silver Spruce Silver Spruce* Silver Valley* Silver Valley Silver Viper* Silver Viper Silver Wolf Silver Wolf* Silver X Silver X* Silvercorp Met* Silvercorp Met SilverCrest* SilverCrest Silverstock Silverton Met Silverton Met* Sirios Res* Sirios Res Sitka Gold Sitka Gold* Sixty North Sixty North* Skeena Res SKRR Explor Sky Gold* Sky Gold Skyharbour Res Skyharbour Res* Slam Explor* Slam Explor Slave Lake Zn Slave Lake Zn* Snowline Gold Snowy Owl Sokoman Min Sokoman Min* Solaris Res SolGold plc* SolGold plc SolidusGold Solitario Ex&R Solitario Ex&R* Solstice Gold Sonora Gld & S Sonoro Gold* Sonoro Gold SOPerior Fert South Atlantic* South Atlantic South Star Bat South Star Bat* South32* Southern Copp* Southern Emp* Southern Emp Southern Silvr Southern Silvr* SouthGobi Res Southstone Min Spanish Mtn Gd* Spanish Mtn Gd Sparton Res* Sparton Res SPC Nickel Spearmint Res* Spearmint Res Sphinx Res Spruce Ridge R SRG Mining SSR Mining* SSR Mining St Augustine St-Georges Eco St-Georges Eco* St. James Gold St. James Gold* Stakeholdr Gld Stallion Gold Standard Graph* Standard Metal* Standard Uran* Standard Uran Stans Energy Star Diamond* Star Diamond Star Gold* Starcore Intl* Starcore Intl Starr Peak* Starr Peak Stellar Africa* Stellar Africa Stelmine Can Stelmine Can* Steppe Gold Steppe Gold* Sterling Metal Sterling Metal* Stevens Gold* Stevens Gold Stinger Res* Stinger Res Stone Gold Straightup Res Straightup Re* Stratabd Mnr* Stratabd Mnr Strategic Metl* Strategic Metl Strategic Res

Week

Exc Volume V O V O C V O O V O V V O V O X T X T C V O O V C O C O T V O V V O O V C O C C V O T O T V T X V V O V V O V V O O N O V V O T V O V O V V O C V V V D T T C O V O V V O O O V V O T O O T O V O V V O T O V O O C O V V C O O V O V V

THE NORTHERN MINER / FEBRUARY 7-20, 2022

Low

Last

0.00 0.13 0.16 0.12 0.15 0.04 0.03 0.10 0.13 0.35 0.46 0.19 0.13 0.33 0.26 3.57 4.50 8.35 10.54 0.00 0.28 0.22 0.07 0.09 0.15 0.12 0.05 0.05 16.46 0.09 0.07 0.09 0.60 0.48 0.04 0.05 0.12 0.09 0.75 0.06 0.38 0.30 14.72 0.36 0.43 0.00 0.59 0.47 0.21 0.00 0.12 0.16 0.04 0.06 0.06 0.27 0.21 2.94 66.87 0.10 0.12 0.34 0.28 0.20 0.04 0.19 0.24 0.07 0.10 0.14 0.15 0.16 0.00 0.12 0.80 17.36 21.93 0.11 0.50 0.40 1.10 0.84 0.74 0.39 0.03 6.20 0.17 0.22 0.03 0.30 0.38 0.04 0.20 0.25 1.60 2.00 0.04 0.05 0.27 0.26 1.38 1.11 0.25 0.20 0.15 0.18 0.10 0.14 0.09 0.14 0.13 0.08 0.10 0.29 0.36 0.00

0.00 0.10 0.00 0.09 0.12 0.00 0.03 0.10 0.11 0.30 0.38 0.00 0.13 0.28 0.23 3.08 3.95 7.12 9.11 0.00 0.21 0.17 0.07 0.08 0.12 0.10 0.05 0.00 13.29 0.08 0.06 0.08 0.44 0.34 0.04 0.00 0.10 0.09 0.50 0.05 0.32 0.25 13.09 0.33 0.41 0.00 0.00 0.42 0.00 0.00 0.11 0.14 0.00 0.06 0.00 0.23 0.17 2.75 61.30 0.10 0.11 0.27 0.21 0.00 0.00 0.16 0.20 0.05 0.07 0.12 0.11 0.14 0.00 0.00 0.69 15.72 20.08 0.00 0.40 0.31 0.96 0.00 0.00 0.00 0.02 0.00 0.14 0.17 0.02 0.25 0.31 0.00 0.00 0.24 1.43 1.81 0.03 0.00 0.21 0.16 1.18 0.94 0.21 0.16 0.14 0.15 0.10 0.12 0.00 0.13 0.13 0.07 0.00 0.25 0.32 0.00

0.12 unch 0.13 + 0.14 unch 0.09 0.13 0.04 unch 0.03 0.10 unch 0.13 + 0.31 0.40 unch 0.16 0.13 0.30 0.24 3.15 4.02 7.32 9.31 0.25 unch 0.22 0.18 0.07 + 0.08 0.13 unch 0.10 + 0.05 0.04 13.50 0.08 0.07 0.08 0.54 + 0.43 + 0.04 0.04 0.10 0.09 unch 0.74 + 0.06 0.35 0.27 13.51 0.33 0.42 unch 0.11 unch 0.59 unch 0.44 0.17 0.09 unch 0.12 0.15 0.03 0.06 unch 0.06 0.24 0.19 2.75 62.57 0.10 unch 0.11 0.28 unch 0.23 + 0.20 0.04 unch 0.17 + 0.21 + 0.07 + 0.10 + 0.12 0.12 0.15 0.01 unch 0.10 0.76 unch 15.98 20.40 0.10 0.44 0.32 1.06 0.78 0.70 0.38 0.02 6.20 + 0.15 0.19 0.03 + 0.28 0.36 + 0.02 + 0.20 unch 0.24 1.54 1.98 + 0.03 0.04 0.21 0.16 1.21 0.95 0.22 0.18 0.14 unch 0.16 0.10 + 0.12 0.09 0.14 0.13 unch 0.07 0.10 + 0.25 0.33 0.32 unch

0 51 184 305 518 2824 2173 250 343 107 74 93 25 595 136 7540 1836 5142 1899 0 201 23 48 1117 920 450 84 22 967 782 8 120 3480 914 10 270 97 25 1233 996 968 1168 1806 64 129 0 60 802 427 0 94 160 1099 10 8 785 615 7 6007 50 176 1621 732 69 101 750 518 52 2795 741 407 2461 0 432 338 6821 3023 646 2191 2414 74 17 4 15 511 1 714 1487 945 63 1217 34 9 91 192 365 8 43 978 594 158 61 210 119 525 81 42 230 47 311 1 2 530 21 171 0

(100s)

12-month

High

Change 0.00 0.03 0.00 0.02 0.02 0.00 0.00 0.00 0.01 0.02 0.00 0.04 0.02 0.02 0.02 0.39 0.44 0.73 0.83 0.00 0.05 0.03 0.00 0.01 0.00 0.00 0.01 0.00 2.42 0.01 0.00 0.02 0.02 0.02 0.00 0.01 0.04 0.00 0.17 0.01 0.02 0.02 1.08 0.01 0.00 0.00 0.00 0.04 0.03 0.00 0.01 0.01 0.01 0.00 0.01 0.03 0.02 0.19 3.69 0.00 0.01 0.00 0.00 0.01 0.00 0.01 0.02 0.01 0.02 0.02 0.02 0.02 0.00 0.03 0.00 1.08 1.06 0.02 0.05 0.05 0.02 0.10 0.04 0.11 0.01 0.20 0.00 0.01 0.01 0.02 0.02 0.00 0.00 0.02 0.02 0.01 0.01 0.01 0.05 0.03 0.16 0.12 0.01 0.00 0.00 0.02 0.00 0.02 0.03 0.02 0.00 0.01 0.01 0.03 0.03 0.00

High Low

Stock

0.29 0.29 0.30 0.27 0.30 0.11 0.47 0.28 0.35 0.70 0.80 0.60 0.51 0.75 0.59 8.55 10.93 12.75 16.25 0.29 1.00 0.64 0.12 0.16 0.34 0.27 0.09 0.07 16.49 0.35 0.21 0.25 0.87 0.70 0.12 0.16 0.43 0.38 0.75 0.17 0.78 0.64 17.17 0.51 0.62 0.15 1.56 1.25 0.25 0.10 0.32 0.39 0.07 0.11 0.10 0.38 0.30 3.02 83.29 0.49 0.31 0.63 0.53 1.39 0.10 0.30 0.38 0.16 0.21 0.80 0.36 0.27 0.03 0.17 1.05 20.06 25.30 0.19 1.19 0.99 6.50 5.16 1.12 0.60 0.50 18.00 0.39 0.51 0.06 0.37 0.49 0.08 0.27 0.33 3.56 4.05 1.00 0.10 0.32 0.28 2.67 2.11 0.83 1.00 0.59 0.75 0.29 0.35 0.17 0.32 0.26 0.25 0.32 0.41 0.50 0.45

Strategic Res* Stria Lithium Strikepoint Gd Strikepoint Gd* Strongbow Expl Strongbow Expl* Stroud Res Stuhini Explor Stuhini Explor* Stuve Gold Sulliden Mng* Sulliden Mng Summa Silver* Summa Silver Sun Peak Metal Sun Summit Sun Summit* Suncor Energy Suncor Energy* Superior Gold* Superior Gold Superior Mng Superior Mng* Surge Battery Surge Battery* Surge Copper* Surge Copper Sylla Gold Syrah Res*

O V V O V O V V O V O T O V V V O T N O V V O V O O V V O

Taiga Gold Taiga Gold* Tajiri Res Talisker Res Talisker Res* Talmora Diamd Talon Metals Tanqueray Expl Tantalex Res Tanzanian Gold Tanzanian Gold* Tarachi Gold* Tarachi Gold Taranis Res* Taranis Res Tarku Res Tartisan Nick* Tartisan Nick Taseko Mines Taseko Mines* TDG Gold Teck Res* Teck Res Teck Res Tectonic Metal* Tectonic Metal Temas Res* Temas Res Tembo Gold Tembo Gold* Tempus Res* Tempus Res Teras Res* Teras Res Terrax Mnrls* Terrax Mnrls Terreno Res Tesoro Mnrls* Tesoro Mnrls Teuton Res* Teuton Res Texas Mineral* Themac Res Themac Res* Thesis Gold Theta Gold* Thor Explor* Thor Explor Three Valley Three Valley* Thunder Mtn Gd* Thunder Mtn Gd Thunderstruck Thunderstruck* Tier One Silv Timberline Res Timberline Res* Tinka Res* Tinka Res Tintina Mines Tisdale Res Titan Mining* Titan Mining Titanium Corp TNR Gold Tocvan Venture Tocvan Venture* TomaGold Tombill Mines Tombill Mines* Tombstone Expl* Tonogold Res* Torex Gold* Torex Gold Torq Resources Torq Resources* Tower Res* Tower Res Traction Expl Trailbreaker* Trailbreaker Trans Canada Trans Canada* Transatlantic

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

0.07 0.02 0.09 0.09 0.12 0.03 0.03 0.05 0.11 0.29 0.37 0.15 0.10 0.27 0.00 3.20 3.95 6.60 8.30 0.18 0.21 0.17 0.04 0.06 0.09 0.06 0.04 0.03 10.40 0.08 0.05 0.07 0.23 0.18 0.00 0.04 0.06 0.05 0.24 0.05 0.19 0.14 5.73 0.28 0.35 0.07 0.53 0.41 0.08 0.04 0.11 0.14 0.02 0.04 0.04 0.10 0.02 1.85 54.92 0.09 0.11 0.25 0.19 0.01 0.04 0.13 0.17 0.01 0.04 0.07 0.07 0.09 0.01 0.08 0.37 13.68 17.29 0.06 0.22 0.17 0.80 0.66 0.39 0.29 0.02 0.08 0.12 0.15 0.01 0.13 0.17 0.02 0.16 0.20 1.23 1.64 0.01 0.04 0.08 0.12 1.14 0.83 0.21 0.16 0.08 0.11 0.01 0.10 0.06 0.13 0.11 0.02 0.08 0.21 0.28 0.22

Week

Exc Volume

High

Low

Last

0 231 1134 702 1223 94 6 60 16 28 0 987 401 592 13 382 72 62501 48161 231 953 300 303 480 1539 627 1007 541 419

0.00 0.03 0.14 0.11 0.50 0.36 0.38 0.64 0.48 0.25 0.00 0.14 1.00 1.00 0.24 0.51 0.39 36.69 28.96 0.62 0.78 0.37 0.30 0.19 0.17 0.27 0.35 0.21 1.32

0.00 0.28 0.00 0.03 0.12 0.12 0.09 0.10 0.36 0.49 0.28 0.36 0.00 0.37 0.54 0.59 0.48 0.48 0.00 0.22 0.00 0.12 0.12 0.13 0.70 0.71 0.89 0.91 0.00 0.23 0.44 0.45 0.34 0.34 32.08 36.15 25.27 28.30 0.57 0.58 0.73 0.73 0.00 0.36 0.22 0.29 0.15 0.15 0.12 0.12 0.22 0.22 0.29 0.29 0.00 0.17 1.15 1.20

1000 30 384 971 79 717 4681 153 2015 37 3104 136 294 140 26 85 318 651 2951 13463 254 26978 10157 19 131 730 2965 3290 25 3 100 28 1250 933 415 588 61 0 0 114 271 682 2 16 852 10 4 671 23650 4441 51 0 254 695 688 330 435 325 245 0 0 13 517 1263 369 122 5 1076 1315 849 5 441 167 1819 69 99 33 1689 260 15 31 92 68 1118

0.26 0.21 0.07 0.30 0.23 0.04 0.73 7.41 0.17 0.51 0.42 0.13 0.17 0.09 0.11 0.07 0.33 0.43 2.54 2.02 0.53 33.62 42.28 44.00 0.08 0.10 0.13 0.16 0.27 0.21 0.09 0.12 0.03 0.03 0.23 0.28 0.04 0.00 0.00 1.83 2.08 2.27 0.09 0.05 2.45 0.11 0.23 0.28 0.21 0.16 0.11 0.00 0.09 0.06 0.84 0.22 0.18 0.14 0.19 0.00 0.00 0.46 0.67 0.80 0.05 0.96 0.88 0.06 0.08 0.06 1.14 0.15 10.29 12.99 0.79 0.63 0.13 0.17 1.04 0.18 0.24 0.09 0.07 0.04

12-month Change

Stock Transforma Res Transition Met Transition Met* Treasury Metal* Treasury Metal Trecora Res* Tres-Or Res Trevali Mining Tri-River Vent Trident Gold Trifecta Gold* Trifecta Gold Trillium Gold* Trillium Gold Trilogy Mtls Trilogy Mtls* TriMetals Mng* Trinity Res* Triple Flag TriStar Gold TriStar Gold* Triumph Gold Triumph Gold* Troilus Gold* Troilus Gold Troubadour Res TRU Precious* TRU Precious True North Gem Tsodilo Res Tudor Gold Tudor Gold * Turmalina Met* Turmalina Met Turquoise HIl* Turquoise HIl TVI Pacific TVI Pacific* Tymbal Res

V V O O T N V T V V O V O V T X O O T V O V O O T V O V V V V O O V N T V O V

U.S. Gold* U3O8 Corp Ubique Mineral UC Res* Ucore Rare Mtl* Ucore Rare Mtl UEX Corp Ultra Resource* Ultra Resource Umbral Enrgy* Unigold* Unigold United Battery* United Battery United Res Hdg* United States A* United States S* Universal Cop* Universal Cop Universal Vent Ur-Energy* Ur-Energy Uragold Bay Rs Uranium Energy* Uranium Hunter* Uranium Res* Uranium Roylty Uranium Roylty* Uravan Mnrls USCorp* Usha Res* Usha Res Val-d’Or Mg* Val-d’Or Mg Vale* Valley High Mg* ValOre Metals* ValOre Metals Valorem Res Valterra Res* Valterra Res Vanadian Enrgy* Vanadian Enrgy Vanadiumcorp Vanstar Mng Rs Vanstar Mng Rs* Vantex Res Vantex Res * Velocity Mnrls* Velocity Mnrls Vendetta Mng* Vendetta Mng Venerable Vent Venture Mnrls* Verde Potash Verde Res* Vertical Expl* Vertical Expl Victoria Gold* Victoria Gold Victory Nickel Victory Nickel* Victory Res Victory Res* Virginia Enrgy Virginia Enrgy* Viscount Mng Visible Gold M* Visible Gold M Vision Lithium Vision Lithium* Visionary Gold Vista Gold Vista Gold*

unch unch + + unch unch + + + + -

0.00 0.00 0.02 0.01 0.09 0.03 0.06 0.03 0.00 0.04 0.00 0.02 0.08 0.10 0.04 0.06 0.05 2.07 1.23 0.04 0.02 0.04 0.03 0.04 0.03 0.05 0.06 0.05 0.13

0.34 0.09 0.28 0.23 0.58 0.44 0.90 0.72 0.60 0.38 0.21 0.28 1.41 1.71 0.55 1.35 1.09 36.69 29.25 0.69 0.84 0.80 0.63 0.38 0.35 0.46 0.68 0.30 2.48

0.19 0.02 0.12 0.08 0.15 0.12 0.24 0.42 0.38 0.19 0.00 0.08 0.62 0.80 0.20 0.37 0.29 21.07 16.40 0.35 0.45 0.28 0.22 0.11 0.05 0.21 0.27 0.10 0.71

unch + + + + + + + + unch + + unch + unch unch + unch unch + + unch + + + unch + unch unch unch unch + + + unch + + unch + unch unch -

0.00 0.01 0.01 0.02 0.02 0.02 0.07 0.09 0.03 0.04 0.02 0.02 0.02 0.00 0.04 0.01 0.07 0.09 0.05 0.10 0.04 1.84 1.75 0.27 0.01 0.00 0.02 0.02 0.01 0.02 0.00 0.01 0.00 0.00 0.03 0.04 0.01 0.00 0.00 0.05 0.12 0.04 0.02 0.00 0.45 0.00 0.00 0.03 0.16 0.13 0.01 0.00 0.01 0.00 0.26 0.01 0.01 0.01 0.02 0.00 0.00 0.04 0.00 0.18 0.01 0.03 0.00 0.01 0.01 0.01 0.03 0.01 0.50 0.43 0.00 0.05 0.00 0.00 0.10 0.00 0.03 0.01 0.02 0.01

0.27 0.24 0.13 0.38 0.31 0.15 0.90 23.89 0.19 2.12 1.91 0.43 0.46 0.12 0.14 0.25 0.55 0.56 3.22 2.67 0.75 35.37 44.15 44.93 0.15 0.18 1.22 1.60 0.36 0.24 0.21 0.33 0.07 0.08 0.25 0.31 0.07 0.06 0.08 2.75 3.17 4.70 0.12 0.11 2.33 0.48 1.00 0.45 1.02 0.82 0.20 0.19 0.14 0.11 1.90 0.49 0.38 0.24 0.30 0.08 2.10 0.74 0.85 0.80 0.09 1.67 1.18 0.10 0.33 0.35 2.80 0.40 15.52 18.72 1.08 0.86 0.15 0.18 1.08 0.38 0.49 0.30 0.24 0.06

0.14 0.00 0.06 0.24 0.19 0.02 0.44 6.39 0.04 0.43 0.34 0.11 0.14 0.07 0.08 0.05 0.10 0.30 1.50 1.07 0.24 17.31 21.86 25.25 0.05 0.07 0.08 0.10 0.10 0.09 0.08 0.10 0.02 0.02 0.13 0.16 0.03 0.02 0.04 1.36 1.74 1.30 0.06 0.04 0.88 0.00 0.17 0.19 0.03 0.02 0.06 0.11 0.06 0.04 0.64 0.15 0.11 0.11 0.16 0.03 0.55 0.00 0.28 0.20 0.04 0.45 0.75 0.05 0.07 0.05 0.51 0.09 8.99 11.79 0.55 0.43 0.03 0.04 0.20 0.14 0.17 0.08 0.07 0.03

T 0.26 0.20 0.06 0.27 0.21 0.02 0.61 6.42 0.14 0.46 0.36 0.11 0.14 0.08 0.00 0.00 0.26 0.32 2.29 1.80 0.46 29.63 37.87 39.05 0.07 0.08 0.08 0.10 0.00 0.19 0.09 0.00 0.03 0.00 0.18 0.22 0.00 0.00 0.00 1.45 1.82 1.91 0.00 0.05 1.95 0.09 0.19 0.22 0.03 0.02 0.09 0.00 0.00 0.06 0.60 0.18 0.15 0.12 0.16 0.00 0.00 0.45 0.55 0.53 0.04 0.92 0.88 0.05 0.07 0.05 1.00 0.11 9.28 11.91 0.72 0.57 0.11 0.13 0.00 0.18 0.00 0.00 0.00 0.00

0.26 0.20 0.06 0.27 0.21 0.04 0.63 7.39 0.14 0.47 0.37 0.11 0.15 0.09 0.10 0.07 0.33 0.42 2.40 1.85 0.50 30.71 39.22 42.00 0.07 0.09 0.09 0.12 0.26 0.21 0.09 0.12 0.03 0.03 0.18 0.24 0.04 0.02 0.04 1.50 1.85 2.13 0.09 0.05 2.45 0.11 0.22 0.25 0.04 0.03 0.09 0.15 0.07 0.06 0.63 0.19 0.15 0.12 0.16 0.03 0.69 0.46 0.58 0.75 0.05 0.96 0.88 0.05 0.07 0.06 1.08 0.13 9.57 12.23 0.76 0.59 0.11 0.15 0.93 0.18 0.21 0.08 0.07 0.03

(100s)

High Low

Week

Exc Volume

Last

12-month

High

Low

Change

11 254 119 129 193 122 65 1753 0 0 133 846 15 269 126 1123 27 1 337 839 318 304 116 635 1060 6 38 1023 4 97 235 132 455 692 12160 2156 599 240 0

0.10 0.17 0.16 0.57 0.71 8.53 0.10 1.75 0.00 0.00 0.07 0.09 0.50 0.63 2.05 1.62 0.19 0.43 15.46 0.17 0.13 0.12 0.09 0.58 0.74 0.17 0.12 0.16 0.10 0.66 2.09 1.75 0.38 0.47 18.94 23.83 0.04 0.03 0.00

0.00 0.09 0.14 0.15 unch 0.11 0.11 0.51 0.53 0.66 0.67 7.83 8.20 + 0.00 0.10 1.22 1.25 0.00 0.04 unch 0.00 0.10 unch 0.05 0.06 0.07 0.07 0.37 0.44 0.50 0.53 1.80 1.81 1.42 1.44 0.17 0.18 0.00 0.43 14.92 15.00 0.14 0.15 0.11 0.12 0.10 0.10 unch 0.00 0.08 + 0.52 0.52 0.66 0.68 0.00 0.17 0.12 0.12 0.00 0.15 unch 0.00 0.10 0.00 0.60 1.93 1.96 1.50 1.53 0.27 0.29 0.36 0.36 14.32 17.64 + 18.15 22.53 + 0.00 0.04 unch 0.02 0.02 0.00 0.01 unch

D 246 V 248 C 59 O 4387 O 365 V 296 T 7149 O 92 V 162 O 528 O 185 V 283 O 565 C 781 O 270 X 3394 N 144948 O 629 V 1135 V 30 X 17450 T 1450 V 1094 X 62868 O 1386 X 3223 V 996 D 3238 V 0 O 1329 O 103 V 58 O 147 V 255 N 191572 O 1807 O 327 V 879 C 1061 O 278 V 850 O 17 V 26 V 2019 V 645 O 200 V 7 O 3 O 43 V 232 O 294 V 299 V 0 O 25 T 787 O 152 O 1 V 304 O 194 T 1070 C 465 O 340 C 1016 O 257 V 286 O 210 V 196 O 112 V 92 V 2701 O 958 V 306 T 40 X 1396

7.74 0.29 0.07 8.92 0.92 1.15 0.33 0.23 0.30 0.05 0.09 0.12 0.52 0.59 0.18 0.47 19.85 0.14 0.11 5.88 1.23 1.55 0.47 2.93 0.03 2.13 4.30 3.43 0.00 0.02 0.24 0.27 0.11 0.14 15.95 0.01 0.33 0.41 0.05 0.02 0.03 0.05 0.06 0.04 0.42 0.36 0.19 0.14 0.25 0.31 0.04 0.05 0.00 0.03 4.39 0.23 0.09 0.12 12.10 15.24 0.02 0.01 0.10 0.08 0.69 0.54 0.50 0.09 0.12 0.20 0.16 0.13 0.92 0.72

Stock

0.02 0.00 0.01 0.02 0.03 0.17 0.01 0.61 0.00 0.00 0.01 0.03 0.06 0.09 0.11 0.11 0.00 0.27 0.72 0.01 0.01 0.00 0.00 0.03 0.01 0.03 0.01 0.00 0.01 0.07 0.10 0.10 0.09 0.12 2.19 3.11 0.00 0.00 0.00

0.78 0.26 0.20 1.02 1.31 9.38 0.17 2.75 0.04 0.12 0.24 0.13 1.34 1.73 3.70 3.06 0.21 0.75 16.90 0.31 0.25 0.23 0.19 1.22 1.31 0.74 0.41 0.52 0.25 1.46 3.65 3.00 0.98 1.13 21.89 26.45 0.06 0.06 0.05

0.09 0.13 0.07 0.47 0.65 6.26 0.08 1.22 0.04 0.09 0.00 0.07 0.37 0.55 1.80 1.41 0.06 0.00 10.50 0.14 0.11 0.10 0.07 0.52 0.66 0.15 0.02 0.12 0.08 0.50 1.94 1.31 0.27 0.37 9.75 12.15 0.03 0.02 0.01

Viva Gold* Viva Gold Vizsla Copper Vizsla Silver* Vizsla Silver Volatus Cap Volcanic Gold* Volcanic Gold Voyager Metals Voyager Metals* Voyageur Min Voyageur Min Voyageur Min* VR Resources* VR Resources Vulcan Mnrls Vulcan Mnrls* VVC Expl VVC Expl*

O V V O V C O V V O V C O O V V O V O

1.27 0.01 0.01 0.77 0.03 0.06 0.00 0.02 0.00 0.00 0.00 0.00 0.04 0.06 0.02 0.01 0.29 0.01 0.02 0.41 0.03 0.00 0.07 0.24 0.00 0.12 0.15 0.07 0.00 0.00 0.00 0.04 0.01 0.01 0.02 0.00 0.04 0.03 0.00 0.00 0.01 0.00 0.00 0.00 0.03 0.02 0.01 0.00 0.00 0.00 0.00 0.01 0.00 0.01 0.05 0.04 0.00 0.02 1.17 1.18 0.01 0.00 0.03 0.02 0.02 0.02 0.04 0.03 0.04 0.04 0.03 0.00 0.03 0.02

13.65 0.70 0.10 30.20 2.36 2.97 0.60 0.23 0.30 0.19 0.31 0.40 1.46 1.80 0.25 2.56 30.57 0.15 0.21 9.75 2.15 2.72 1.68 5.79 0.27 11.45 7.31 5.95 0.70 0.07 0.34 0.40 0.29 0.17 23.18 0.17 0.50 0.61 0.44 0.08 0.09 0.10 0.13 0.11 1.15 1.04 0.38 0.27 0.47 0.61 0.07 0.08 0.13 0.12 4.44 0.27 0.19 0.30 18.50 22.54 0.09 0.08 0.60 0.49 0.98 0.79 0.55 0.22 0.29 0.95 0.74 0.24 1.72 1.40

6.01 0.11 0.03 4.50 0.55 0.71 0.25 0.11 0.13 0.00 0.07 0.09 0.06 0.40 0.01 0.37 16.13 0.01 0.06 3.15 0.80 1.03 0.40 1.56 0.01 1.83 1.84 1.48 0.22 0.00 0.15 0.18 0.03 0.11 11.16 0.00 0.16 0.22 0.04 0.02 0.02 0.03 0.05 0.04 0.38 0.29 0.16 0.00 0.25 0.28 0.01 0.04 0.12 0.03 0.88 0.02 0.04 0.04 8.60 10.90 0.01 0.00 0.05 0.04 0.10 0.08 0.32 0.00 0.07 0.06 0.04 0.09 0.77 0.59

Walker River Walker River* Wallbridge Mng* Wallbridge Mng Waraba Gold Warrior Gold* Warrior Gold Waseco Res Wealth Mnrls* Wealth Mnrls Wedgemount Res Wescan Gldflds Wesdome Gold Wesdome Gold* West High Yld West Mining* West Mining West Oak Gold West Red Lake* West Red Lake West Vault Western Alaska Western Areas* Western Atlas Western Copper* Western Copper Western Gold Western Mag* Western Mag Western Potash Western Res* Western Troy C Western U&V Western U&V* Westgold Res* Westhaven Gold* Westhaven Gold Westkam Gold* Westkam Gold Westminster Rs Westward Gold Wheaton Prec Wheaton Prec* White Energy* White Gold* White Gold White Metal R* White Metal Rs Whitehaven Coa* Whitehorse GC Wildsky Res* Wildsky Res Winshear Gold Winshear Gold* Winston Gold Winston Gold* Winston Res Wolfden Res* Wolfden Res Wolfeye Res World Copper Worldwide Res X-Terra Res X-Terra Res* Xanadu Mines Xander Res Xander Res* Ximen Mining* Ximen Mining Xplore Res Xtierra Inc Xtra-Gold Res Xtra-Gold Res* Yamana Gold Yamana Gold* Yanzhou Coal* Yorbeau Res Zacatecas Silv Zacatecas Silv* ZEB Nickel Zena Mining Zephyr Mnls Zephyr Mnls* Zimtu Capital Zinc One Res Zinc One Res * Zincore Mtls ZincX Res ZincX Res* Zonte Metals Zonte Metals*

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

U-V 6.01 0.20 0.07 6.55 0.77 0.97 0.28 0.20 0.00 0.04 0.08 0.11 0.27 0.51 0.13 0.37 17.98 0.06 0.09 5.39 1.03 1.33 0.40 2.34 0.02 1.81 3.32 2.62 0.00 0.02 0.23 0.00 0.10 0.00 14.93 0.01 0.28 0.35 0.04 0.02 0.00 0.05 0.00 0.04 0.38 0.30 0.00 0.14 0.25 0.29 0.03 0.05 0.00 0.03 3.28 0.17 0.09 0.10 10.36 13.35 0.01 0.01 0.00 0.06 0.46 0.36 0.44 0.09 0.00 0.17 0.13 0.13 0.84 0.63

6.07 0.27 0.07 7.38 0.82 1.14 0.31 0.21 0.26 0.05 0.09 0.12 0.43 0.54 0.14 0.42 19.54 0.08 0.09 5.39 1.11 1.42 0.40 2.49 0.02 1.89 3.95 3.09 0.26 0.02 0.24 0.25 0.11 0.14 15.58 0.01 0.30 0.39 0.05 0.02 0.02 0.05 0.06 0.04 0.38 0.30 0.19 0.14 0.25 0.30 0.04 0.05 0.12 0.03 3.92 0.18 0.09 0.11 10.66 13.68 0.02 0.01 0.08 0.06 0.61 0.47 0.45 0.09 0.11 0.17 0.13 0.13 0.85 0.68

+ + unch unch + + unch + unch + + unch unch unch unch unch + unch unch unch unch + unch + unch unch -

(100s)

High Low

Exc Volume

Week High

Low

204 210 432 223 980 244 67 239 362 25 373 258 64 79 269 574 29 1056 1303

0.12 0.16 0.24 2.48 2.85 0.07 0.38 0.47 0.20 0.15 0.14 0.50 0.11 0.33 0.42 0.31 0.24 0.16 0.13

0.10 0.13 0.19 2.34 2.31 0.06 0.32 0.40 0.15 0.14 0.12 0.40 0.09 0.29 0.36 0.27 0.22 0.14 0.10

3263 324 1224 2377 63 113 210 29 1188 910 101 6 1700 581 264 111 414 41 207 966 87 99 22 168 1229 1286 27 2732 2064 530 20 0 606 413 4 168 175 4 40 244 322 4618 12415 23 247 276 560 757 208 59 20 16 20 18 1239 2396 821 30 484 299 878 2 148 102 3944 548 16 61 63 20 36 164 24 13683 94231 2 3020 851 211 37 100 115 33 51 15 30 0 649 2 157 85

0.06 0.04 0.29 0.37 0.19 0.05 0.06 0.04 0.37 0.45 0.35 0.11 12.00 9.47 0.66 0.08 0.10 0.12 0.06 0.07 1.19 1.14 2.44 0.07 1.56 1.97 0.18 0.37 0.46 0.18 0.14 0.00 1.71 1.45 1.47 0.33 0.42 0.10 0.12 0.21 0.14 51.68 41.04 0.12 0.60 0.76 0.07 0.10 1.96 0.54 0.12 0.18 0.10 0.11 0.04 0.04 0.16 0.20 0.22 0.34 1.05 0.05 0.03 0.03 0.03 0.11 0.09 0.17 0.21 0.06 0.05 0.98 0.76 5.52 4.38 2.33 0.05 1.06 0.84 0.26 0.13 0.16 0.14 0.22 0.54 0.42 0.00 0.12 0.10 0.22 0.16

23

12-month

Last

Change

High Low

0.11 0.14 0.20 2.37 unch 2.38 0.06 0.32 0.41 0.20 + 0.14 0.12 0.45 + 0.09 0.29 0.37 0.29 0.22 0.14 0.11 -

0.01 0.02 0.02 0.00 0.42 0.01 0.06 0.05 0.03 0.01 0.02 0.05 0.02 0.04 0.05 0.02 0.02 0.01 0.01

0.31 0.39 0.70 2.87 3.45 0.20 0.55 0.67 0.36 0.32 0.35 0.50 0.25 0.55 0.68 0.37 0.80 0.30 0.50

0.06 0.08 0.15 0.99 1.26 0.01 0.26 0.30 0.11 0.00 0.07 0.30 0.03 0.20 0.25 0.05 0.04 0.09 0.07

0.04 0.06 + 0.04 0.04 + 0.25 0.25 0.32 0.33 0.11 0.14 0.04 0.04 0.06 0.06 0.00 0.04 + 0.25 0.29 0.33 0.37 0.25 0.25 0.00 0.11 + 10.51 10.69 8.22 8.36 0.61 0.62 0.07 0.07 0.09 0.09 0.11 0.11 unch 0.04 0.05 unch 0.06 0.06 1.07 1.10 + 0.94 0.99 2.38 2.43 0.00 0.07 1.41 1.46 1.80 1.86 0.00 0.16 0.26 0.32 + 0.32 0.41 + 0.15 0.16 0.13 0.13 0.00 0.15 unch 1.15 1.63 + 0.90 1.27 + 1.43 1.47 + 0.28 0.29 0.37 0.38 0.09 0.09 0.00 0.11 0.00 0.17 0.11 0.13 unch 48.93 49.80 38.28 39.01 0.00 0.12 unch 0.52 0.53 0.65 0.67 0.07 0.07 + 0.00 0.08 1.80 1.84 0.51 0.51 0.12 0.12 + 0.00 0.15 0.00 0.10 + 0.05 0.05 0.04 0.04 unch 0.03 0.03 0.14 0.16 + 0.16 0.18 0.21 0.22 unch 0.25 0.32 + 0.88 0.90 0.00 0.05 0.00 0.03 unch 0.01 0.01 + 0.03 0.03 + 0.09 0.09 0.07 0.07 0.15 0.15 0.18 0.19 0.00 0.06 unch 0.00 0.05 + 0.89 0.92 0.70 0.73 5.04 5.14 3.95 4.03 2.24 2.24 0.05 0.05 + 0.86 0.88 0.69 0.69 0.00 0.19 0.00 0.11 0.00 0.16 + 0.12 0.14 + 0.00 0.21 unch 0.00 0.54 + 0.34 0.42 + 0.00 0.05 unch 0.11 0.12 0.09 0.10 + 0.00 0.22 + 0.16 0.16 -

0.02 0.00 0.03 0.03 0.05 0.01 0.01 0.01 0.09 0.10 0.05 0.02 1.30 1.17 0.03 0.01 0.01 0.00 0.00 0.01 0.05 0.11 0.04 0.02 0.12 0.13 0.02 0.02 0.01 0.03 0.01 0.00 0.33 0.21 0.04 0.04 0.04 0.01 0.02 0.04 0.00 1.54 1.79 0.00 0.04 0.04 0.00 0.02 0.20 0.02 0.01 0.04 0.01 0.02 0.00 0.01 0.02 0.02 0.00 0.04 0.08 0.02 0.00 0.00 0.01 0.03 0.04 0.03 0.02 0.00 0.01 0.03 0.01 0.15 0.18 0.12 0.01 0.15 0.16 0.09 0.09 0.01 0.01 0.00 0.10 0.08 0.00 0.01 0.01 0.02 0.02

0.14 0.11 0.64 0.77 0.33 0.10 0.11 0.07 0.56 0.70 0.79 0.15 13.52 11.00 1.22 1.16 1.70 0.19 0.10 0.13 1.46 1.46 2.50 0.13 2.83 3.35 0.49 0.76 0.96 0.37 0.19 0.17 4.18 3.28 1.85 0.66 0.80 0.18 0.25 0.39 0.33 59.65 49.10 0.12 0.68 0.85 0.12 0.17 2.64 3.90 0.29 0.36 0.13 0.11 0.18 0.15 1.60 0.40 0.36 1.54 1.05 0.09 0.15 0.11 0.11 0.25 0.19 0.35 0.43 0.14 0.21 1.53 1.22 6.54 5.44 2.36 0.06 1.89 1.05 0.75 0.25 0.22 0.18 0.30 5.00 1.27 0.05 0.23 0.19 0.27 0.21

0.04 0.01 0.25 0.32 0.11 0.01 0.06 0.03 0.10 0.12 0.16 0.06 7.78 6.05 0.13 0.05 0.08 0.11 0.04 0.05 0.90 0.70 1.51 0.05 1.12 1.45 0.14 0.08 0.11 0.15 0.07 0.13 0.77 0.60 1.15 0.27 0.33 0.09 0.11 0.16 0.10 44.09 34.85 0.08 0.37 0.45 0.05 0.06 0.90 0.43 0.08 0.11 0.05 0.05 0.04 0.03 0.14 0.04 0.15 0.25 0.29 0.04 0.03 0.01 0.03 0.06 0.05 0.12 0.16 0.05 0.03 0.84 0.65 4.78 3.70 0.89 0.04 0.52 0.45 0.16 0.10 0.12 0.10 0.19 0.45 0.01 0.05 0.10 0.08 0.17 0.03

W-Z

BID-ASK — JANUARY 24–28, 2022 12-MONTH STOCK

Aftermath Silv Alacer Gold Amilot Capital Aquila Res Arcturus Vent Ashanti Sanko Atlanta Gold AUQ Gold Aurelius Min Aurex Energy Aust Goldfield Avarone Metals Aya Gold Banro Corp* Boss Power Brunswick Res Bullion Gold Burrell Res C2C Gold Cache Explor Cadillac Vent Cerro de Pasc Cirrus Gold Cliffs Nat Res* Corvus Gold* Crystal Peak EEE Explor Electra Stone Encanto Potash Equitorial Ex Everton Res Evolution Glob Evolving Gold Excalibur Res Exploits Disc Explorex Res Finore Mng Flow Metals

EXC

BID

ASK

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

0.24 9.41 ... ...

0.02 0.03 0.03 0.33 0.13 0.04 ... ...

1.94 0.11 0.17 ...

0.06 0.21 ...

0.16 0.05 ...

0.20 1.45 ...

0.01 0.20 0.01 0.06 0.08 0.10 0.50 0.30 0.09 ... ...

0.12 0.03

0.25 9.52 ... ...

0.03 0.03 0.04 0.40 0.14 0.06 ... ...

2.19 0.11 0.20 0.05 0.15 0.50 ...

0.17 0.06 ...

0.35 3.20 ...

0.02 0.25 0.02 0.07 0.08 0.10 4.00 0.59 0.10 ...

6.50 0.12 0.04

12-MONTH

LAST

HIGH

LOW

STOCK

0.25 9.47 0.04 0.09 0.03 0.03 0.03 0.40 0.14 0.05 0.47 0.04 2.01 0.11 0.17 0.03 0.10 0.25 0.11 0.16 0.05 0.29 0.30 1.43 3.21 0.01 0.25 0.01 0.06 0.08 0.03 2.00 0.35 0.10 0.59 2.85 0.11 0.03

0.33 10.82 0.08 0.14 0.13 0.06 0.04

0.05 3.50 0.04 0.06 0.01 0.02 0.03

0.15

0.03

0.47 0.15 2.50 2.10

0.42 0.03 0.82 0.10

0.28 0.53 0.15 0.33 0.17 0.34 0.30 7.17 3.30 0.10 0.25

0.01 0.20 0.03 0.12 0.05 0.12 0.12 0.98 1.71 0.01 0.15

0.10 0.25

0.05 0.07

2.00 1.45 0.11 0.62 10.50

2.00 0.28 0.01 0.13 2.85

0.08

0.03

GAR Limited General Moly* Genius Metals Gespeg Res Gldn Predator Global Cop Grp Goldbelt Emp Goldblock Cap Golden Cariboo GoldHaven Res Goldshore Res Green Arrow Handa Mining Highvista Gold Indico Res Inspiration Mg Intl Battery Intl Cobalt Iron South Mng Ivor Explor K9 Gold Karora Res Kodiak Copper Latin Metals Leo Res Leopard Lake Lida Resources Lithium South MAG Silver* Mansa Explor Meryllion Res Mich Resources Minecorp Egy Montana Gold Montego Res Napier Vent Navis Res Corp New Klondike

EXC

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

BID

... ... ...

0.06 0.15 0.07 0.02 ...

0.10 ... ...

0.02 0.04 ... ... ... ...

0.20 0.24 0.36 0.17 0.47 0.05 0.03 ...

0.12 ...

0.31 12.52 0.25 ...

0.37 ...

0.09 0.02 0.06 ...

0.01

12-MONTH

ASK

LAST

HIGH

LOW

STOCK

... ... ...

0.06 0.17 0.08 0.02 ...

0.12 ...

375.00 0.03 0.05 ...

0.01 ... ...

0.25 0.27 0.45 0.24 0.48 0.06 0.04 ...

0.15 ...

0.34 13.30 0.25 ...

0.50 ...

0.10 0.05 ... ...

0.01

0.15 0.11 0.22 0.06 0.16 0.08 0.02 0.32 0.10 0.42 0.11 0.02 0.04 0.17 0.01 0.03 0.31 0.26 0.24 0.36 0.24 0.48 0.05 0.03 1.09 0.15 0.24 0.31 12.52 0.19 0.08 0.37 0.12 0.10 0.04 0.07 0.30 0.01

4.13 100.00 0.28

0.13 0.10 0.16

0.36 0.11 0.05 0.32 0.15 0.45 1.20 0.04 0.06

0.12 0.04 0.02 0.25 0.02 0.06 0.48 0.02 0.04

0.72 0.28 0.40 0.28 0.73 0.13 0.16

0.20 0.04 0.30 0.16 0.20 0.04 0.02

0.16 0.27 0.66 14.40 0.22 0.17 0.48 0.20 0.10 0.05

0.12 0.13 0.24 6.12 0.08 0.05 0.24 0.07 0.02 0.02

Nexco Res North Valley O2Gold Orocobre Otso Gold Patriot Batt Phenom Res PPX Mining Primary Energy Prospero Silvr Quaterra Res Quinto Res Rare Element* Razore Rock Res Reliant Gold Rockex Mng Rockland Mnls Seahawk Gold Silver Phoenix Silverstock Southern Arc Southstone Min Standard Lith Supernova Met Tiger Intl Trench Metals TriMetals Mng Trinity Valley Vale* ValOre Metals Vatic Vent Whitemud Res Winshear Gold Xiana Mng Zara Res Zinco Mng

EXC

BID

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

...

0.06 0.23 ...

0.04 0.09 0.68 0.04 ...

0.55 0.15 0.05 0.11 0.11 ...

0.04 0.07 0.41 0.26 0.15 0.32 0.01 6.65 0.05 ...

0.55 0.11 ... ...

0.06 0.05 0.01 0.12 0.07 ...

0.05

ASK

...

0.10 0.27 ...

0.04 0.10 0.71 0.05 ...

1.18 0.17 0.07 0.16 0.16 0.10 0.04 0.08 0.45 0.33 0.25 0.90 0.01 6.95 0.06 0.17 0.55 0.12 ... ...

0.07 ...

0.02 0.14 0.08 ...

0.07

LAST

0.30 0.08 0.23 8.28 0.04 0.10 0.69 0.04 0.17 0.56 0.16 0.08 0.15 0.11 0.02 0.04 0.08 0.45 0.28 0.25 0.89 0.01 6.95 0.06 0.15 0.55 0.12 0.04 10.24 0.07 0.10 0.02 0.14 0.08 0.07 0.05

HIGH

LOW

0.37 0.10 0.37 9.30 0.10 0.18 0.76 0.05 0.82 1.35 0.30

0.20 0.06 0.06 3.89 0.03 0.08 0.24 0.04 0.16 0.51 0.06

0.89 0.25

0.06 0.08

0.09 0.11 1.05 0.90 0.29 0.93 0.04 6.95 0.11 0.30 0.22 0.12 0.14 11.10 0.13

0.03 0.01 0.20 0.23 0.18 0.24 0.01 1.02 0.05 0.07 0.04 0.03 0.04 6.57 0.07

0.03 0.15 0.12 0.22

0.01 0.05 0.06 0.07

24

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