The Northern Miner February 18 2019 Issue 4 by The Northern Miner Group

BONUS MAGAZINE: EXPLORATION TRENDS & DEVELOPMENTS Geotech_Earlug_2016_Alt2.pdf 1 2016-06-24 4:27:20 PM

SPECIAL FOCUS

UNITED STATES

Prospects aplenty from precious metals to copper, lithium and magnesium / 9-16

DELIVERING QUALITY EXPERTISE GLOBALLY ACROSS THE ENTIRE MINING LIFE CYCLE

VTEM™ | ZTEM™ | Gravity | Magnetics 905 841 5004 | geotech.ca

WWW.SGS.COM/MINING

MINERALS@SGS.COM

FEBRUARY 18–MARCH 3, 2019 / VOL. 105 ISSUE 4 / GLOBAL MINING NEWS · SINCE 1915 / $3.99 / WWW.NORTHERNMINER.COM

Andrée St-Germain, José Vizquerra named ‘Young Mining Professionals of the Year’ HONOURS

| The next generation of mining leaders

BY JOHN CUMMING jcumming@northernminer.com

he Young Mining Professionals (YMP) — a nonprofit group with chapters in Vancouver, Toronto, Montreal, Sudbury, Perth, Brisbane, Johannesburg and London — has given its Mining Professional of the Year awards for 2018 to Andrée St-Germain, chief financial officer of Integra Resources (TSXV: ITR; US-OTC: IRRZF) and José Vizquerra, executive vice-president of strategic development and a director of Osisko Mining (TSX: OSK; US-OTC: OBNNF). The YMP Awards, presented in association with The Northern Miner, are intended by the YMP to “recognize two young mining professionals, a male and a female, who over the past year, and during the course of their careers, have demonstrated exceptional leadership skills and innovative thinking to provide value for their companies and shareholders, as well as for themselves.” Nominees were under 40 years of age in 2018 and active in some aspect of the mining industry anywhere in the world. Voting on a selection of nominees was held in January by a committee representing YMP branches and The Northern Miner. St-Germain has been awarded the Eira Thomas Award (female), named after the iconic mining executive who first gained prominence for her role in growing the diamond miner Aber Resources, while Vizquerra has been awarded the Peter Munk Award (male), named after the legendary founder of Barrick Gold. The YMP Awards Gala to present St-Germain and Vizquerra with their awards will be held on the

Now Available from

evening of March 2 at the ShangriLa Hotel in downtown Toronto, the day before the start of the Prospectors & Developers Association of Canada convention. Awards gala tickets are limite d a nd c a n b e b ou g ht at www.youngminingprofessionals. com/#awards. Barrick Gold, KPMG, Cassels Brock and Rio Tinto are the gala sponsors. YMP was established to help its members obtain the skills, support and knowledge to advance their mining careers, develop a network of contacts within the industry and find career and mining-related investment opportunities. YMP facilitates these objectives through its scholarship program, social events and high-profile guest speaker events.

Fremont Gold president Dennis Moore (far left), vice-president of exploration Clay Newton (centre, in orange vest) and CEO Blaine Monaghan (wearing glasses) with analysts at the Gold Bar gold project in Eureka County, Nevada . PHOTO BY RICHARD QUARISA

Fremont drills past producers

SITE VISIT

| Exploring claims next to McEwen’s Gold Bar

BY RICHARD QUARISA

Andrée St-Germain Andrée St-Germain, 39, was born in Haiti and raised in Gatineau, Quebec. She earned a Bachelor in Business Administration from the Université du Québec (TÉLUQ) and an International Master of Business Administration (Honours) from York University’s Schulich School of Business. St-Germain began her career in investment banking working for Dundee Capital Markets, and interacted with mining companies on mergers and acquisitions advisory and financing. In 2013, St-Germain joined Golden Queen Mining as chief financial officer, where she played an instrumental role in securing project finance and overseeing Golden Queen as it transitioned from development and construction to commercial production. She joined Integra Gold as CFO in early 2017 and helped oversee its See AWARDS / 6

rquarisa@northernminer.com ELKO, NEVADA

remont Gold (TSXV: FRE; US-OTC: USTDF) is drilling 1,000 reverse-circulation (RC) metres at its Gold Bar gold project, a two-hour drive from Elko, Nevada. It’s targeting a potential southeast extension of the past-producing Gold Bar pit, in an area that has never been drilled. It intends to follow up by diamond drilling 500 metres at its nearby Gold Canyon gold project. Both properties are part of the Battle Mountain-Eureka trend and are under option from Ely Gold Royalties (TSXV: ELY; US-OTC: ELYGF). They’re also both very close to McEwen Mining’s (TSX: MUX; NYSE: MUX) Gold Bar gold mine construction project. Gold Canyon, in particular, sits on inlying claims next to McEwen’s Gold Bar mine. To earn a 100% interest in its own Gold Bar project, Fremont will pay Ely US$1 million over five

years. Ely keeps a 2% net smelter return royalty that Fremont can halve for US$5 million. Atlas Precious Metals previously operated the Gold Bar mine from 1986–1994, producing 286,000 oz. gold at 2.74 grams gold. Fremont says a series of northeast–southwest faults offset the Gold Bar pit from the nearby Millsite deposit, which has a historical resource of 147,000 oz. gold at 2.57 grams gold per tonne. The company says the faults may also host the same mineralization southeast of Gold Bar. It has found coincident gold and mercury anomalies that support this idea, and partial halos of magnesium and niobium in the same area as well. It says these large alteration zones could indicate Carlin-type gold deposits. The zones sit a few minutes’ drive southeast from the Gold Bar pit to the RC drill the company turns in a nearby field, testing this theory. “Most people don’t talk about niobium, but I love niobium,” Fremont vice-president of exploration Clay Newton says during a site visit hosted by the company. “What

we see here is a great example of niobium zonation, where the magnesium stops and the niobium picks up. “We have a great target here. How deep it is, we’re going to find out.” See FREMONT / 2 PM40069240

Geoscience and Exploration of the Argyle, Bunder, Diavik, and Murowa Diamond Deposits Editors: Andy T. Davy, Chris B. Smith, Herwart Helmstaedt, and A. Lynton Jaques

Sponsored by

www.segweb.org/store

LUMINA GOLD: CONFIRMS DEPOSIT AT GRAN BESTIA / 7

1-16_FEB18_Main .indd 1

2019-02-12 8:19 PM

WWW.NORTHERNMINER.COM

FEBRUARY 18–MARCH 3, 2019 / THE NORTHERN MINER

A reverse-circulation drill at Fremont Gold’s Gold Bar project near Elko, Nevada. PHOTO BY RICHARD QUARISA

Fremont drills past producers in Nevada FREMONT From 1

To earn a 100% interest in Gold Canyon, Fremont will pay Ely US$802,500 over five years. Ely will keep a 2% net smelter return royalty that Fremont can cut in half by paying the company US$3 million. Atlas produced 41,000 oz. gold averaging 2.67 grams gold at Gold Canyon from 1990–1994. It acted as one of five satellite pits to the company’s Gold Bar mine. The other four satellite pits now comprise McEwen’s Gold Bar development project. According to a 2018 feasibility study McEwen tabled for Gold Bar, the project will produce 62,800 oz. gold per year over a seven-year mine life. At US$1,250 per oz. gold, the project has a US$54-million, after-tax net present value at a 5% discount rate, and a 23% after-tax internal rate of return. McEwen expects the project to pour its first gold in February 2019. The mine has 26.32 million measured and indicated tonnes grading 0.87 gram gold for 730,000 oz. gold, as well as 4.9 million inferred tonnes at 0.78 gram gold for 120,000 oz. gold.

Gold Canyon sits 800 metres away and along strike from McEwen’s Gold Ridge pit, which has 2.7 million measured and indicated tonnes grading 0.028 gram gold for 76,000 oz. gold. Drilling by Fremont in 2018 found a second gold-mineralized layer 60 metres below the Gold Canyon pit floor. Fremont says Atlas didn’t mine this second layer because it didn’t fit its economic model — the layer was too deep and not entirely oxidized. At US$300 per oz. gold prices, Atlas couldn’t afford to truck ore from Gold Canyon to its mill 20 km away, near Gold Bar. “When you look at the Gold Canyon pit you see this pink zone at the top, which is obviously oxidized, but most of what you see looks carbonaceous,” Newton says. However, not all of it actually is carbonaceous, Clay adds. Underground, mineralization becomes sporadic. Some is oxidized and some is carbonaceous. Fremont intends to f inish a 500-metre diamond drill program at Gold Canyon to expand the second, deeper zone. The company says it will use a diamond drill at Gold Canyon

instead of an RC drill because it needs the best core it can get. It wants to validate historical drilling at Gold Canyon that was almost entirely RC for a future National Instrument 43-101 resource at the project. “We need to add as much value as we can at Gold Canyon, as cheaply as we can,” Fremont CEO Blaine Monaghan says. “We need to prove it up and show McEwen what it’s worth to them.” Monaghan took over as Fremont’s CEO last October, replacing company founder Dennis Moore, who remains Fremont’s president. Moore discovered the Tocantinzinho and CuiuCuiu gold deposits in Brazil. He previously founded Magellan Minerals, which Anfield Gold acquired in 2016. Anfield later became Equinox Gold (TSXV: EQX; US-OTC: EQXFF), when it — along with NewCastle — was acquired by Trek Mining. “I replaced Dennis in October, so Dennis can do what he does best, and that’s focus on exploration,” Monaghan says. Atlas also found the NW Gold Ridge anomaly and South French anomaly at the Gold Canyon property, north and northeast of the

Gold Canyon pit, through soil and rock-chip samples. Although Moore calls the project “target rich,” Fremont will focus on the old pit for now, because it doesn’t need a permit to drill there. The Bureau of Land Management already classifies it as disturbed land. Atlas also left behind stockpiles at Gold Canyon that Fremont could potentially re-mine. Newton says Atlas was probably stockpiling non-oxidized ore. “Gold Bar and Gold Canyon are brownfields, and the risk is lower,” Monaghan says. “But what I like is that we also have these greenfield projects.” The company’s North Carlin project consists of the Alkali, Coyote and Rossi claim blocks, covering 42 sq. km on the northern extension of the Carlin trend. Known deposits in that area tend to occur on a north–south trend. “We are positioned to be the next bead on that trend,” Newton says. “Pearl,” Moore interjects. “The next pearl on the string.” “That’s right,” Newton continues. “Dennis likes to call them pearls. “We generated some very significant soil anomalies that we’re hopefully going to drill this year.”

Mountain Province

DIAMONDS BEST IN CLASS:

Largest and Richest New Diamond Mine Partnered with De Beers

TSX: MPVD

1-16_FEB18_Main .indd 2

NASDAQ: MPVD

www.mountainprovince.com

“GOLDRUN IS THE BEST PROJECT WE HAVE ... THE POTENTIAL TO FIND SOMETHING SIMILAR TO PHOENIX — AND ALSO CARLIN STYLE — IS ENORMOUS.” CLAY NEWTON VICE-PRESIDENT OF EXPLORATION, FREMONT GOLD

He says the area has not been explored before because it features upper plate rocks, while almost all the nearby projects are in lower plates. Barrick Gold (TSX: ABX; NYSE: GOLD) previously drilled one hole at Coyote, but not in Fremont’s anomaly. He doesn’t know of any other drilling in the area. Fremont also has its Hurricane gold project in the Cortez trend, 4 km west of Barrick’s Hilltop gold deposit. Fremont recently trenched 0.56 gram gold over 102 metres at Hurricane, including 0.77 gram gold over 63 metres. The company’s earliest-stage exploration property is Goldrun, located at the intersection of the Battle Mountain and Getchell gold trends. The project historically produced 50,000 oz. gold and 530,000 oz. silver from low-sulphidation veins in three sets. The project consists of 14.15 sq. km that is wholly owned by Fremont, and 8.8 sq. km owned jointly by Fremont and a private partner. The property is next to Newmont Mining’s (NYSE: NEM) Adelaide-Crown claims, and near its producing Phoenix gold mine. Although it has not yet released its 2018 production results, Newmont anticipated Phoenix would produce at least 210,000 oz. gold. In the first three quarters of 2018, Phoenix produced 171,000 oz. gold. “We’re trying to get the jointly owned claims at Goldrun, so we control enough of the land to do the exploration work ourselves,” Monaghan says. “This is the best project we have,” Newton adds. “The potential to find something similar to Phoenix — and also Carlin style — is enormous.” Shares of Fremont are trading at 19¢ in a 52-week range of 9¢ to 22¢. The company has a $10-million market capitalization. TNM

2019-02-12 8:19 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 18–MARCH 3, 2019

JOINT VENTURE ARTICLE

Klondike Gold Sees Similarities With More Advanced Yukon Projects Klondike Gold Corp. (TSXV: KG; Frankfurt: LBGF; OTC:KDKGF) has a 557-sq.-km land package in Yukon, not far from where Goldcorp Inc. (TSX: G; NYSE: GG) is developing the 1.67 million oz., construction-stage Coffee gold project and White Gold Corp. (TSXV: WGOK; NYSE: KGC) is working on its 960,000 indicated oz. Golden Saddle development-stage project. Klondike President, CEO and Director Peter Tallman believes his company’s claims are not only nearby, they host nearly identical gold mineralization. “I think all three gold districts are in fact the same district but that is an emerging geological theory. More detailed work has been done at Coffee, and the details of their mineralization, right down to the half-metre units of ultramafics that occur within the Coffee deposits also occur within our mineralization,” explains Tallman. He adds: “The network of structures and cross-structures at Coffee, for example, and the apparent age relations, also have striking similarities to those identified this past summer within the Klondike. There are cross-structures that are the same structures that Gay Gulch is on.” Tallman is referring to a recent PhD thesis on Goldcorp’s Coffee deposits that suggests a similar if not identical structural evolution of the gold mineralization on Klondike Gold’s land package. Although the White Gold district has not been studied in the same detail, Tallman believes the same structural systems are in place there, too. Klondike Gold star ted drilling targets on its massive proper ty in 2015, about a year after Tallman joined the company. The first drill target was a quartz vein in a ditch at Gay Gulch that returned 76 grams gold per tonne over 2.8 metres. Not a bad start. Shortly af ter joining Klondike, Tallman, a geologist, was online examining a version of a Geological Survey of Canada airborne magnetic survey conducted in 2002, when he noticed what he thought was a fault running the length of the district. “I thought, ‘this could be an orogenic gold belt.’ And that this particular fault, which had not been considered previously, would be the primar y structural control,”

A drill on the Lone Star zone within Klondike Gold Corp.’s Eldorado target in the Yukon. Credit: Klondike Gold Corp. says Tallman. A year later, the company targeted Nugget East and had several promising drill results — but only in quartz veins. “Nugget East is mostly hosted in apex quar t z vein s, within a structural hinge, and in a number of dif ferent drill holes there we intersected gold mineralization that basically ran between 2 and 2.5 grams per tonne over about 25 metres horizontally, more or less true width,” Tallman explains. “That is part of a trend that we’ve defined as the Nugget Fault, which extends at least 3 kilometres and as much as six.” However, Tallman suspected that the estimated 20 million oz. of gold in alluvial gravels in the

Klondike district could not have come from quartz veins alone. At that point the Klondike Gold team began looking for disseminated gold deposits as the possible source of the alluvial gold. It also hired seasoned geologist Ian Perry as Vice-President of Exploration. “Ian has different skills than I do. He’s more of a technical guy. His compilations and guidance are helping to produce the new model of mineralization in the Klondike,” says Tallman. In 2018 the company completed district-scale soil surveys, a detailed magnetic airborne survey, and hired SRK Consulting to do structural mapping. “The intent of those things collectively was to document the

Mapping and sampling gold-bearing quartz veins exposed in old trenches near the Nugget Zone. Credit: Klondike Gold Corp.

1-16_FEB18_Main .indd 3

structural model and to see if that original premise from 2014 — Is there a big controlling fault in the district? — held up. As well as to see what else is going on from a structural point of view,” says Tallman. The airborne sur vey mapped what appears to be a large basement fault. And the structural mapping by SRK suggests an orogenic thrust event not previously recognized in the Klondike, but which is consistent with similar findings at the Coffee deposit. “We now have a really good understanding of the orogenic history of the Klondike and why the gold is where it is and how it got there,” says Tallman. The c ompany spent roughly $3.5 million in exploration in 2018, about $1 million more than the original budget. The company plans to drill another 5,000 to 8,000 metres in 2019. On a land package so large, narrowing the drill targets is not as easy as one might think. Tallman says some fur ther drilling will be done at Nugget East and Gay Gulch but Tallman’s ambitions outstrip his current budget. The c ompany has ab out $2 million in cash. And it could raise more money via its core shareholders. The company boasts wealthy mine financiers Frank Giustra and Er ic Sprot t among its owne r s. Those two and Klondike management, as well as several other large shareholders, would own slightly less than 50% of Klondike Gold if they exercised all of their warrants; with Giustra owning 22%. There are 97 million shares outstanding (126 million fully diluted) and a market cap of about $18 million in mid-February. Shares of

Klondike Gold trade in a 52-week range of $0.17 to $0.43. “One of our financing opportunities is going to our sophisticated shareholders and asking them to exercise warrants when we need money,” says Tallman. Klondike also owns some legacy base metals proj ects in British Columbia that are for sale. Perhaps the most noteworthy asset on the auction block is the McKinnon Creek placer mine in the Yukon. That property was featured on the Discovery Channel’s “Gold Rush” television program, created by Todd and Jack Hoffman. For two seasons, Tallman played the role of the Hof fmans’ “Evil Claim Lord.” Tallman notes that the royalties generated by the Hoffmans’ efforts to mine the property basically paid for the restar t of Klondike Gold. Another item in Klondike’s favour is infrastructure. The BonanzaEldorado Creek area is 20 km from Dawson Cit y on a paved and gravel road maintained by the Yukon territorial government, which is also spending millions to upgrade these roads across the region. There is also a power substation in Dawson. Tallman cautions that a resource estimate on any of Klondike’s drill targets is still years away. “Is there an economic deposit? We don’t know that yet. There are cer tainly targets in the belt that have potentially economic characteristics, now we have to go drill them,” he says. — The preceding Joint-Venture Article is PROMOTED CONTENT sponsored by Klondike Gold Corp., and compiled in cooperation with The Nor thern Miner. Visit www. klondikegoldcorp.com for more information.

2019-02-12 8:19 PM

WWW.NORTHERNMINER.COM

FEBRUARY 18–MARCH 3, 2019 / THE NORTHERN MINER

GLOBAL MINING NEWS · SINCE 1915

www.northernminer.com

E D I T O R IA L

O P- E D

Iron ore prices surge higher on Vale disaster IRON ORE

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

icunanan@northernminer.com PRODUCTION EDITOR: David Perri, BA dperri@northernminer.com ONLINE EDITOR: Adrian Pocobelli, MA (ENGL) apocobelli@northernminer.com EDITOR, DIAMONDS IN CANADA: Alisha Hiyate, BA (POLI SCI, HIST) ahiyate@northernminer.com ADVERTISING: Joe Crofts (416) 510-6816 jcrofts@northernminer.com Michael Winter (416) 510-6772 mwinter@northernminer.com SUBSCRIPTION SALES/ APPOINTMENT NOTICES/ CAREER ADS George Agelopoulos (416) 510-5104 (Toll free) 1-888-502-3456, ext. 43702 gagelopoulos@northernminer.com PRODUCTION MANAGER: Jessica Jubb (416) 510-5213 jjubb@glacierbizinfo.com CIRCULATION/CUSTOMER SERVICE: Laura Arnold (416) 510-5135 (Toll free) 1-888-502-3456 northernminer2@northernminer.com REPUBLISHING: (416) 510-6768 moliveira@northernminer.com ADDRESSES: Toronto Head Office: 225 Duncan Mill Road, Suite 320 Toronto, ON, M3B 3K9 (416) 510-6789 tnm@northernminer.com Western Bureau: 303 West 5th Avenue Vancouver, BC, V5Y 1J6 (604) 688-9908 SUBSCRIPTION RATES: Canada: C$120.00 one year; 5% G.S.T. to CDN orders. 7% P.S.T. to BC orders 13% H.S.T. to ON, NL orders 14% H.S.T. to PEI orders 15% H.S.T. to NB, NS orders U.S.A.: US$120.00 one year Foreign: US$157.00 one year GST Registration # 809744071RT001 (ISSN 0029-3164) CANADA POST: Return undeliverable Canadian addresses to Circulation Dept. c/o The Northern Miner 225 Duncan Mill Road, Suite 320 Toronto, ON M3B 3K9 Publication Mail Agreement #40069240 Periodicals Postage Rates paid at Niagara Falls, NY, 14304. U.S. office of publication 2424 Niagara Falls Blvd, Niagara Falls, N.Y. 14304. U.S. POSTMASTER: send address corrections to: Northern Miner Box 1118 Niagara Falls, N.Y. 14304.-7118

| Prices reach levels last seen in mid-2014, as Vale cuts output

ll of those supply and demand, and price forecasts carefully assembled in late 2018 for iron ore have become obsolete in the wake of Vale’s devastating Corrego do Feijao tailings disaster in Brazil’s Minas Gerais state in late January, where the grim count now stands at 165 dead, with 160 people missing, mostly Vale employees. BY JOHN CUMMING jcumming@northernminer.com The Dam 1 at Feijao — built in 1976 and reaching 86 metres high, with a crest length of 720 metres — collapsed in the afternoon of Jan. 25 and spilled 11.7 million cubic metres onto Vale buildings, engulfing a packed lunchroom downstream from the dam, parts of the nearby town of Brumadinho and long stretches of the Paraopeba River. It ranks as Brazil’s worst environmental disaster and dwarfs the scale of Vale and BHP’s infamous Samarco Mariana dam disaster, also in Brazil, which killed 19 people in what had been one of the worst tailings disasters worldwide in recent memory. Reuters reported that it had reviewed a third-party audit of the Feijao dam conducted last year that found “cracks in drainage channels and recommended improvements in monitoring.” The magnitude of the spillover effects of the Feijao disaster on local populations, Vale and global iron ore markets is still coming into focus two and a half weeks after the accident. The first thing the global mining community learned is that Brazil is burdened with up to 88 of the 700 tailings dams in the country having been built using the less secure and cheaper “upstream” method, where the dam wall is gradually built up in the upstream direction, so that eventually the top of the dam is directly overtop tailings — a particularly unsafe method in as rainy a country as Brazil, where tailings dams are water-saturated year-round. It leads to the obvious question: how many more ticking time bombs in the form of unstable dams are there in Brazil? The Wall Street Journal reports that, in the wake of the Samarco disaster, Vale repeatedly denied it operated any upstream tailings dams, and only acknowledged their presence in April 2017 in one line within an annual report. In its reporting, WSJ found plenty of other major miners having upstream tailings dams, which are better suited to arid climates. Going forward, investors and other stakeholders will now demand more detailed tailings-dam information from mining companies, and it could expose miners to significant new liabilities, with upstream tailings dams so prevalent in the industry. In response, Vale reaffirmed a decision it said it made in 2016 to decommission all 19 upstream tailings dams it operates in the country, of which 10 have already been decommissioned. The program will cost Vale R$5 billion, or US$1.4 billion. Brazil’s National Mining Agency has already declared that upstream tailings dams will be banned in the country, and that existing ones must be taken down or converted to more stable forms. As the world’s largest iron ore supplier, Vale had expected to produce 400 million tonnes of iron ore in 2019, but has already suspended 70 million tonnes of its production capacity in the wake of the disaster. Iron ore prices have surged 25% since the disaster, with 62% ironcontent iron ore trading at US$94.10 per tonne on Feb. 8 — its highest level since July 2014, and not far off highs above US$100 per tonne last seen in May 2014. Prices for 58% and 65% iron indexes have seen similar moves. Another effect will be an overall lowering of iron ore quality globally, as top-quality Brazilian production is taken off the market and Australia’s lower-quality output gains relative prominence. The beneficiation of remaining Brazilian iron ore output will also be discouraged in the mid-term as it produces more wet tailings. Vale’s shares have dropped 25% since the accident, while its major iron ore rivals BHP, Rio Tinto and Fortescue Metals all saw strong gains. Rio Tinto is now trading at levels not seen since 2008. Citi has raised its earnings forecast for BHP and Rio Tinto 44% and 19% for 2019, and predicts 62% benchmark iron ore prices will exceed US$100 within three months. Shipping has also been hit hard, too, with Capesize freight rates from Brazil to China falling 20% since the disaster. TNM

DEPARTMENTS Editorial. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Metal Prices. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19

THE NORTHERN MINER is published biweekly by BIG Mining L.P., a division of Glacier Media Inc., a leading Canadian media company with interests in business-to-business information services. From time to time we make our subscription list available to select companies and organizations whose products or services may interest you. If you do not wish your contact information to be made available, please contact us by one of the following methods: Phone: 1-888-502-3456; Fax: (416) 447-7658; Mail to: Privacy Officer, The Northern Miner, 225 Duncan Mill Road, Suite 320, Toronto, ON M3B 3K9.

1-16_FEB18_Main .indd 4

FACTS ‘N’ FIGURES

| Bankers bought at levels not seen since end of US gold standard

The following is an edited summary from the World Gold Council, based on its Gold Demand Trends Full Year and Q4 2018 report. To access the full report, visit www.gold.org.

lobal gold demand reached 4,345 tonnes (140 million oz.) in 2018, up 4% on 2017 and in line with five-year average demand of 4,348 tonnes, according to the World Gold Council’s latest Gold Demand Trends report. The annual increase was driven by a multi-decade high in central bank buying and accelerated investment in bars and coins during the second half of the year. While annual inf lows into exchangetraded funds (ETFs) were down 67% in 2018, demand was boosted in the final quarter by inflows of 112.4 tonnes. Central banks added 651.5 tonnes (20.9 million oz.) to official gold reserves in 2018, up 74% on 2017, and the second-highest yearly total on record. Net purchases jumped to their highest level since the end of U.S. dollar convertibility into gold in 1971, as a greater pool of central banks turned to gold as a diversifier. Annual jewellery demand was steady at 2,200 tonnes (70.7 million ounces), down just 1 tonne from the previous year. Gains in China (3%), the U.S. (4%) and Russia (9%) broadly offset sharp losses in the Middle East, where demand dropped 15% on 2017. Indian demand was stable at 598 tonnes — a drop of only 4 tonnes from the previous year. ETFs and similar products saw only moderate inf lows of 68.9

COIN DEMAND SURGED TO REACH A FIVE-YEAR HIGH OF 236 TONNES IN 2018, THE SECONDHIGHEST YEAR ON RECORD. tonnes during 2018, down 67% on 2017. Stock market volatility and signs of faltering economic growth in key markets fuelled a recovery in fourth-quarter 2018, with inf lows growing to 112.4 tonnes from 32.5 tonnes in the same period last year. However, Europe was the only region to see net growth over the year as a whole. Retail investment in gold bars and coins grew 4% in 2018 to 1,090 tonnes. Coin demand surged to reach a five-year high of 236.4 tonnes, the second-highest on record. Demand for gold bars held steady at 781.6 tonnes, the fifth year in succession of holding in a firm 780- to 800-tonne range. 2018 saw marginal gains in the volume of gold used in technology — up 1% year-on-year — although this was tempered by a fourth-quarter slowdown. After healthy gains during the first three quarters of 2018, a combination of slowing smartphone sales, the U.S.-China trade war and mounting uncertainty over global economic growth contributed to a 5% decline in the fourth quarter, to 84.1 tonnes. TNM

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

COMPANY INDEX Alio Gold. . . . . . . . . . . . . . . . . . 6 American CuMo Mining. . . 11 American Lithium. . . . . . . . . 15 American Pacific Mining. . . 13 Americas Silver . . . . . . . . . . . 11 Barkerville Gold Mines. . . . . . 6 Barksdale Capital. . . . . . . . . . 11 Barrick Gold. . . . . . . . . . . . . . 2,9 Bunker Hill Mining. . . . . . . . 11 California Gold Mining. . . . 11 Discovery Metals. . . . . . . . . . . 6 Dolly Varden Silver. . . . . . . . . 8 Ely Gold Royalties. . . . . . . . . . 1 Equinox Gold. . . . . . . . . . . . . . 2 Fremont Gold. . . . . . . . . . . . . . 1

Central banks buoyed gold demand in 2018

Glencore . . . . . . . . . . . . . . . . . . 5 Goldcliff Resource. . . . . . . . . 11 Goldcorp. . . . . . . . . . . . . . . . . 14 GT Gold . . . . . . . . . . . . . . . . . . 8 Hecla Mining. . . . . . . . . . . . . 13 IDM Mining. . . . . . . . . . . . . . 6,8 Integra Resources. . . . . . . . . . . 1 Ioneer. . . . . . . . . . . . . . . . . . . . 15 Kinross Gold. . . . . . . . . . . . 11,14 Liberty Gold. . . . . . . . . . . . . . . 8 Lithium Americas. . . . . . . . . 15 Lumina Gold . . . . . . . . . . . . . . 7 Luminex Resources. . . . . . . . . 7 McEwen Mining . . . . . . . . . 1,11 Nevada Alaska Mining. . . . . 15

Nevada Clean Magnesium. . 15 Nevada Energy Metals . . . . . 15 Newmont Mining . . 7,12,13,14 Osisko Gold Royalties. . . . . . 11 Osisko Mining. . . . . . . . . . . . . 1 Premier Gold Mines. . . . . . . . 9 Rio Tinto. . . . . . . . . . . . . . . . . . 8 Sierra Metals. . . . . . . . . . . . . . . 6 Skeena Resources. . . . . . . . . . . 8 Teck Resources. . . . . . . . . . . . . 5 Trilogy Metals. . . . . . . . . . . . . 16 Viva Gold . . . . . . . . . . . . . . . . 12 Western Pacific Resources. . 13

2018 GOLD FIGURES • Overall demand was 4,345 tonnes, up 4% from 2017 • Consumer demand grew 1% to 3,290 tonnes • Investment demand fell 7% to 1,159 tonnes • Jewellery demand was flat at 2,200 tonnes • Central bank demand was 652 tonnes, up 74% from 2017 • Technology demand rose 1% to 335 tonnes • Total supply was up 1% to 4,490 tonnes • Recycling increased by 1% to 1,173 tonnes

2019-02-12 8:21 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 18–MARCH 3, 2019

Scheer promises to cut red tape ROUNDUP

| Opposition leader pledges to repeal Bill C-69 if Conservatives win federal election BY MINING.COM

A British Columbia Premier John Horgan addresses delegates in Vancouver at the AME Roundup in January. VELOUR PRODUCTIONS/AME

BC gov’t makes provincial exploration tax credit permanent AME ROUNDUP

| NRCan adds funds to Artic energy innovation projects

BY MINING.COM

VANCOUVER

iners and mineral explorers in British Columbia hit paydirt this month, with B.C. Premier John Horgan announcing that two investment-friendly tax credits would be made permanent and no longer re-evaluated on annual basis. Speaking at Roundup 2019, the annual meetup organized by the Association for Mineral Exploration (AME), Horgan said his government will adopt the recommendations of the Mining Jobs Task Force in making the Mining Flow-Through Share (MFTS) tax credit and the B.C. Mining Exploration Tax Credit (METC) permanent incentives to support investment in mining. The MFTS provides a non-refundable B.C. income tax credit to individuals who have bought flow-through shares from a B.C. mining company. The tax credit is worth 20% of mining expenses that the mining company flows through to the individual. The METC is a refundable B.C. income tax credit for eligible individuals and corporations conducting grassroots mineral exploration in B.C., and is worth 20–30% of qualified mining exploration expenses. “We are making these tax credits permanent — something the previous government would not do,” Horgan said in a press release, which notes that B.C.’s mining and related sectors provide jobs for over 30,000 people and a production value worth more than $8 billion. Edie Thome, AME president and CEO, responded that AME is “pleased that the provincial government is living up to their commitment to support the mineral exploration and mining industry and its future in this province.” Horgan’s government, an NDPGreen Party coalition, has also pledged to add more resources to the Ministry of Energy, Mines and Petroleum Resources; improve mining application processes and industry safety and oversight; commit $1 million to working with industry and governments to develop a “mining innovation roadmap”; and provide another $1 million for the Regional Mining Alliance, which promotes mineral exploration, indigenous partnerships and mining in British Columbia. The four initiatives announced by the premier were part of 25 recommendations from the B.C. Mining Jobs Task Force — a 12-member group chosen to review explora-

1-16_FEB18_Main .indd 5

tion and mining, and to advise the government — which took power in 2017 after a 16-year reign by the B.C. Liberals. The task force submitted its report to government in December. Speaking at the opening ceremony of Roundup, Horgan told the audience the mining industry is well-placed to carry out reconciliation with B.C. First Nations, considering that “mineral exploration, explorers and miners are on the front lines in rural B.C. interacting with indigenous communities all the time, and there are no better ambassadors, in my opinion, than those that are there all the time.” Concerning the mining innovation roadmap, he mentioned Teck Resources (TSX: TECK.B; NYSE: TECK), which is working with MineSense, a mining supplier that has a shovel sensor to tell the difference between waste rock and ore; and LlamaZOO, a mining software provider. In another announcement, a representative from the federal ministry Natural Resources Canada (NRCan) said NRCan will spend a total of $4.2 million on two TUGLIQ Energy Corp. projects in Nunavut and Quebec that are meant to lower reliance on diesel fuel.

NRCan will put $3.9 million into RAGLAN 2.0 for expanding Nunavik’s first renewable energy production and storage centre for 16 regional mining operations and Inuit communities. The Raglan mine is a large nickel mining complex operated by Glencore (LON: GLEN) in the Nunavik region of northernmost Quebec. The second expense of $283,000 will help TUGLIQ finish a frontend engineering and design study to integrate compressed air energy storage with its operations, boosting wind energy use at a Nunavut mine. Both projects are being funded through NRCan’s Energy Innovation Program, which received $49 million over three years to support clean energy innovation. “Today’s investments will help reduce reliance on diesel fuel and transform the energy landscape in Canada’s Arctic region. Our government is proud to support projects that will improve the region’s longterm economic stability and energy security, while reducing pollution and the environmental footprint of Canada’s northern mining operations and communities,” said Paul Lefebvre, parliamentary secretary to Canada’s Minister of Natural Resources.

VANCOUVER

Canadian government led by Andrew Scheer, the current leader of the official opposition Conservative Party of Canada, would repeal legislation before the Canadian Senate that he argues hobbles resource development. Speaking at the Association of Mineral Exploration’s (AME) Roundup convention in downtown Vancouver, Scheer said if a Conservative government is elected this coming October, it will “develop a process that aims to get things done in this country.” He reminded the audience that 3,700 businesses across Canada are involved in mining, which is also the largest employer of indigenous people in the country. The federal bills C-55, C-68 and C-69 are an “alphabet soup of regulatory burden,” and Conservatives would repeal C-69 in particular, Scheer said. Bill C-69 would revamp the rules around environmental assessment of major resource project, and changes the input from third parties in the review process. Scheer calls the bill “too flawed” and “a pipeline killer,” in reference to Kinder Morgan’s decision last year to cancel its Trans Mountain oil pipeline project across B.C. amid public opposition. The Canadian government later bought the project for $4.5 billion. Scheer warned if a Liberal government is re-elected, taxes will go up and regulations will become more stringent, crimping industry. “We have to provide incentives to keep our industry competitive so that those jobs stay here in Canada, and investment opportunities don’t leave our country for others around the world.” He bemoaned the fact that getting a mine from initial exploration to production can take up to 20 years, and named Australia as a jurisdiction he would like Canada to compete with and beat. Scheer took three questions from the AME board, who asked

Federal Opposition Leader Andrew Scheer at AME Roundup 2019 in Vancouver. VELOUR PRODUCTIONS/AME

Scheer what the Conservative Party would do regarding the Species at Risk Act, as it relates to the threatened southern B.C. mountain caribou; how the party would create more certainty around industry and indigenous groups with respect to resource development; and what the CPC would do to facilitate mineral exploration financing. Scheer said his party supports the mineral exploration tax credits made permanent by the B.C. government in January, adding the industry should “stay tuned” for a CPC announcement regarding mining financing. The federal government already recently committed to a five-year renewal of the Mineral Exploration Tax Credit (METC) in its fall economic statement. “We do realize the value of those particular types of provisions in confronting the front-end development costs of mining more easy to bear, and we’ll have something very exciting to share in the shortterm about what a Conservative government would do to incentivize and facilitate that type of capital investment,” he said.

& PROUDLY PRESENT

THE AMERICAS POWERHOUSE LUNCHEON Meet the International Trailblazers Challenging the Status Quo

WEDNESDAY, MARCH 6, 2019 11:15 AM - 2:00 PM EST Toronto Region Board of Trade 77 Adelaide Street West, Toronto, ON REGISTER AT HTTPS://BIT.LY/2AZ2QHB | PROMO CODE: PDAC99

2019-02-12 8:20 PM

WWW.NORTHERNMINER.COM

FEBRUARY 18–MARCH 3, 2019 / THE NORTHERN MINER

St-Germain, Vizquerra named ‘Young Mining Professionals of the Year’ AWARDS From 1

sale to Eldorado Gold in July 2017 for C$590 million. After the sale to Eldorado, the former Integra Gold team regrouped to form Integra Resources, and bought the DeLamar gold-silver project in Idaho from Kinross Gold. “Andrée was originally hired as our CFO, due to her operational experience in mine-site construction and management at Golden Queen — a professional niche, I might add, where there are few female role models leading the charge,” says Integra Resources president and CEO George Salamis. “I had known Andrée for several years prior to her hire at Integra, most specifically while she was a well recognized investment banker at Dundee Capital. Her energy, dedication and pragmatic approach has always made her a stand-out in the field of resource finance.” St-Germain is also a director of Barkerville Gold Mines (TSXV: BGM) and IDM Mining (TSXV: IDM). (The latter is the target of a friendly takeover by Ascot Resources.) José Vizquerra José Vizquerra, 39, was born and raised in Lima, Peru. Jose holds a civil engineering degree from the Universidad Peruana de Ciencias Aplicadas (UPC) and an MSc in Mineral Exploration from Queens University. He is currently finishing the General Management program at the Wharton Business School. Vizquerra previously worked as the head of business development for Minas Buenaventura (NYSE: BVN) (a company his grandfather founded in 1953), prior to which he worked as a production and exploration geologist at the Red Lake gold mine in Ontario. In 2011 he moved to Canada to work with the Osisko Group. In 2013, the Osisko Group’s Braeval Mining, of which Vizquerra was president and CEO, endured a trying period when six team members were kidnapped at the company’s mining camp in Colombia, including vice-president of exploration Gernot Worber, who was held for 200 days. Vizquerra led the team responsible for coordinating and assisting with the liberation of the kidnapped personnel, all of whom were safely returned. Before his current role at Osisko Mining, Vizquerra served for over

four years as the president and CEO of Oban Mining, where he led the change of business strategy that resulted in Oban’s acquisition of Corona Gold, Eagle Hill Exploration and Ryan Gold to form what is now Osisko Mining. “Jose has been instrumental in the creation of the new Osisko Mining, which started as a company with an $8-million market cap in the summer of 2015,” Osisko president and CEO John Burzynski says. “After three short years and approximately 50 transactions, Osisko has grown to a $750-million-market-cap company developing the high-grade Windfall project in Quebec. “Jose is bound to be an important player in the next generation of Canadian mine builders. He has a solid technical background in geology and mining engineering, and a strong entrepreneurial spirit. He has mastered financial dealmaking, and he has honed his business skills with the multiple and frequent deals at Osisko. All of this is a potent and well-rounded mix of experience for a successful, rising star in the Canadian mining industry.” Vizquerra is also a director of Alio Gold (TSX: ALO; NYSE-AM: ALO), Sierra Metals (TSX: SMT; NYSEAM: SMTS) and Discovery Metals (TSXV: DSV; US-OTC: AYYBF) . The Northern Miner reached out to St-Germain and Vizquerra via email with some career-related questions, and below are their answers. The Northern Miner: Do you have any family connections to mining? Andrée St-Germain: One of my uncles, Denis Tremblay, is a geologist from Val-d’Or. Perhaps that’s what first awakened my interest for gold as a kid. My partner is also a CFO in the mining industry. He is a valuable sounding board and understands the demands and rigour of the job, together with the ups and downs that come with our industry. José Vizquerra: I was introduced to mining by my grandfather Alberto Benavides de la Quintana, who used to invite me to the management meetings he conducted every Saturday at his office. During those meetings, geology, mining and metallurgical matters were discussed. I am married with two children and I hope to pass on the passion for mining that my grandfather passed on to me.

“MINING IS A FAST-CHANGING INDUSTRY FACING MANY CHALLENGES, BUT ALSO OPPORTUNITIES THAT REQUIRE DEDICATION, HARD WORK, FLEXIBILITY OF THINKING, AND ABOVE ALL, HUMILITY. I ALSO BELIEVE THE QUALITY OF A TEAM IS AS IMPORTANT AS THE QUALITY OF THE MINING ASSETS.” ANDRÉE ST-GERMAIN CHIEF FINANCIAL OFFICER, INTEGRA RESOURCES

“THE DEVELOPMENT OF RURAL COMMUNITIES KEEPS ME EXTREMELY MOTIVATED ... YOU DON’T CHOOSE WHERE YOU WILL FIND A MINERAL DEPOSIT, BUT WHENEVER MINING OPERATIONS ARE ESTABLISHED, ONE MAY, AND INDEED SHOULD, STRIVE TO IMPROVE THE LIVES OF SURROUNDING COMMUNITIES.” JOSÉ VIZQUERRA EXECUTIVE VICE-PRESIDENT OF STRATEGIC DEVELOPMENT, OSISKO MINING

TNM: What first got you interested in a mining career? ASG: Serendipity! I started working in investment banking at Dundee Capital Markets after completing my MBA. While I worked in several industries at first, mining was what captured my interest. Shortly thereafter Bob Sangha and Sandeep Singh joined to lead the mining practice, and they brought me into their team. I’ve never looked back since. JV: I fell in love with mining after I visited Buenaventura’s Orcopampa mine with my uncle Raul when I was 12 years old. I found it fascinating to be in the underground tunnels, but more importantly I was extremely impressed by the contribution the mine was making to the development of a town located over 3,500 metres above sea level. TNM: What keeps you interested in a mining career? ASG: My passion for the multiple facets of our industry, and its often very colourful people. In my role as a CFO and also as a director, I have the opportunity to be exposed to many aspects of mining, from exploration, environmental, corporate social responsibility, financing, etc., which makes for

a stimulating career. I believe in the future of our industry. Mining can enhance the lives of local communities and make a positive impact on all stakeholders. JV: The development of rural communities keeps me extremely motivated. As you know, you don’t choose where you will find a mineral deposit, but whenever mining operations are established, one may, and indeed should, strive to improve the lives of surrounding communities. The opportunity to positively effect the lives of many people by providing them with long-term employment and help to develop their communities, together with the opportunity to solve intricate geological puzzles that the earth has in store — those things keep my passion at the highest level. TNM: Have mentors been important to you? Any specific people? ASG: I wouldn’t be where I am without the support, mentorship and guidance of many individuals. Bob Sangha, Sandeep Singh and Rick Cohen during my investment banking days, Lutz Klingmann, Bryan Coates, Brenda Dayton, when I left investment banking to join the corporate side, and over the past few years, George Salamis and Steve de Jong. All of these individuals have

TSX: SMT | BVL: SMT NYSE American: SMTS

Congratulations to our esteemed Board Member, Jose Vizquerra, recipient of the Young Mining Professional of the Year award

Congrats Andrée!

YOUNG MINING PROFESSIONAL OF THE YEAR TSX-V: ITR / OTCQX: IRRZF

integraresources.com www.sierrametals.com

1-16_FEB18_Main .indd 6

always believed in my potential, and sometimes even more than I believed it myself. JV: Mentors have been unquestionably important to me. I have already mentioned my grandfather. In my professional life in Canada, the most important person has been John Burzynski. John is an extremely bright professional, but more importantly, he is an exceptional human being. He has taught me in the best way possible: by example. In addition to many other lessons he taught me, for instance, he helped me truly understand that the best deal is not the best deal one can conceive, but the one that can be executed. TNM: Do you have any advice for young graduates starting out in a mining career, or younger students considering mining-related degrees? ASG: It is a fast-changing industry facing many challenges, but also opportunities that require dedication, hard work, flexibility of thinking, and above all, humility. I also believe the quality of a team is as important as the quality of the mining assets, which highlights the importance of picking your team wisely. I’m fortunate to have a great team at Integra, as well as at IDM Mining and Barkerville Gold Mines — teams able to navigate the multiple challenges our industry faces. Never underestimate the power of networking. This is a small industry and we are all connected in one way or another. Finally, and most importantly, love what you do and be passionate about it, because that is what will get you through the lows of the cycle. JV: If I could give one bit of advice it would be to always be open to help others in all that one can. Our industry needs to be more united, so we can face together the challenges of the future. Also, to be always open to keep learning, or even better, to always start by assuming you don’t know the answer. TNM: Millennials and other young people are known for wanting a better “work-life” balance than previous generations. Is this something you’re doing or aiming to do? ASG: I didn’t have much of a worklife balance for most of my career, and was a true believer in having to “pay your dues.” I now have a much more balanced life, and work with a team who supports work-life balance. I’m feeling less stressed and healthier than I’ve ever been, and See AWARDS / 8

2019-02-12 8:20 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 18–MARCH 3, 2019

Lumina confirms deposit at Gran Bestia ECUADOR BY RICHARD QUARISA

rquarisa@northernminer.com

umina Gold (TSXV: LUM; USOTC: LMGDF) has announced drill results from the Gran Bestia zone at its Cangrejos gold project in Ecuador that, along with drilling by the property’s previous owner, confirm a second deposit that could boost the project’s scale. “It’s early days here right now, but we’re pretty optimistic about what we’re seeing so far, mineralizationwise,” Lumina president and CEO Marshall Koval says in an interview with The Northern Miner. The company found long intervals of gold mineralization in its first three holes at Gran Bestia, including 0.44 gram gold tonne and 0.12% copper over 262 metres from surface, and 0.41 gram gold with 0.1% copper over 26 metres from 274 metres downhole. “All indications are that it’s an impressive deposit,” Koval says. “Gran Bestia could be a satellite deposit that is an initial starter pit if it pans out, or it could add to the mine life at Cangrejos, from a resource perspective.” The company is still drilling Gran Bestia. It sits 1 km from the Cangrejos deposit. The three holes Lumina drilled last year at Gran Bestia join five others from the property’s previous owner, Newmont Mining (NYSE: NEM). “Our follow up confirmed what Newmont saw initially there,” Koval says. “And the idea there is to fully

| Junior plans gold resource update in second half

test it and understand it. But it’s pretty exciting.” Highlights from Newmont’s drilling at Gran Bestia include: 0.91 gram gold and 0.16% copper over 209 metres from surface and 0.55 gram gold over 319 metres from surface. Mineralization at Gran Bestia is open in all directions. The company also drilled southeastern step-out holes from the main resource at Cangrejos. Highlights from those two holes include 0.61 gram gold and 0.11% copper over 28 metres from 242 metres downhole and 0.21 gram gold and 0.1% copper over 36 metres from 22 metres downhole. Highlights from infill holes the company drilled in the southwest part of the Cangrejos deposit include 0.64 gram gold and 0.15% copper over 366 metres from 170 metres downhole, 0.85 gram gold and 0.25% copper over 294 metres from 2 metres downhole, and 0.54 gram gold and 0.24% copper over 92 metres from surface. The latest results come from the company’s 2018 drill campaign, where it drilled 12,800 metres across 32 holes at Cangrejos. It also drilled 2,300 metres across seven holes for geotechnical and metallurgical data. The company has two drill rigs turning at the project and expects two more to arrive in February 2019. Lumina plans to drill 7,000 metres across 23 infill and step-out holes at the Cangrejos deposit and 5,200 metres across 13 holes defining Gran Bestia this year. It expects

Drill core from Lumina Gold’s Gran Bestia gold target in Ecuador shows potassic alteration with abundant stockwork veining. This sample interval has a grade of 14.95 grams gold per tonne and 0.1% copper over 2 metres. LUMINA GOLD

to finish resource drilling by early July 2019. “The only caveat is that what we find at Gran Bestia may extend that schedule, if we’re successful,” Koval says. “We have a soil and rock-chip anomaly that crosses the two areas and we’re going to at some point here — after we understand the mineralization at Gran Bestia a little better — see if those two areas are connected, and if it’s one large deposit, or if it’s truly a satellite deposit by itself.” The company plans to table an updated resource estimate for the Cangrejos project in the second half of 2019, incorporating all 2018 and 2019 drilling. It will include a maiden resource for Gran Bestia. The company is also continu-

ing metallurgical and engineering drilling in the first half of 2019. The company plans to drill eight holes for pit slope design and pump tests. It will also monitor wells for hydrogeological studies. The company has shipped 1.8 tonnes of material from 2018 drilling to Lima for metallurgical tests. It intends to ship 2 tonnes of whole PQ core to Utah for high-pressure grinding role tests (HPGR). “The idea there is you would save operating costs by going to HPGR, because the mineralization is moderate to hard,” Koval says. Lumina expects to finish its metallurgical testing program by the third quarter. The company tabled a preliminary economic assessment (PEA)

for Cangrejos in mid-2018 detailing a 16-year, open-pit operation that would process 40,000 tonnes per day during its first five years, and 80,000 tonnes per day for the rest of its life. The project has a US$920-million, after-tax net present value at a 5% discount rate and a 15% after-tax internal rate of return. It would require a US$831-million initial capital expense and US$230 million for life-of-mine sustaining capital. The project wou ld produce 373,000 oz. gold and 43 million lb. copper on average per year. It contains 408 million inferred tonnes grading 0.65 gram gold per tonne, 0.11% copper, 0.6 gram silver per tonne and 0.0025% molybdenum for 8.5 million oz. gold, 1.03 billion lb. copper, 7.8 million oz. silver and 22.5 million lb. molybdenum. Shares of Lumina are trading at 56¢ in a 52-week range of 46¢ to 85¢. The company has a $173-million market capitalization. In August 2018, it spun out all its projects — except Cangrejos — into a company called Luminex Resources (TSXV: LR; US-OTC: LUMIF). “If you drill and you have legitimate targets like Gran Bestia, it’s a good value creator for the company — besides de-risking, engineering and [prefeasibility] fieldwork, as you move on,” Koval says. “We’re kind of doing both simultaneously and trying to fast-track the fieldwork as quick as we can, so we better understand what we have.” TNM

JOINT VENTURE ARTICLE

AspenTech Reduces Downtime for Mining Equipment In 1981, the chemical engineering group at Cambridge, Mass.-based MIT received a U.S. Department of Energy grant to study technical innovation in the processing industries as part of a strategy to mitigate the impact of another oil crisis like the one that threatened the U.S. in the 1970s. Thirty-eight years later, Aspen Technology (NASDAQ: AZPN) has a market cap approaching US$7 billion—greater than all but a handful of mining companies in North America—by becoming a software company that makes processing companies more efficient. Most of its work to date has been in the chemicals and petrochemicals spaces but now AspenTech is seeking to gain a bigger pieda-terre in the mining space. “We’re a household name in the chemicals and petrochemicals industries but in mining, not so much,” says Michael Saucier, senior manager of product marketing. “We are, however, getting some notches on our belt.” Saucier points to a multinational mining company based in Vancouver that has implemented AspenTech’s proprietary Mtell software into its metals refining processes. Mtell’s autonomous agents predict impending failures, determine lead-times and provide prescriptive guidance to mitigate or even prevent breakdowns. “We can tell you, for example, that a bearing on a slurry pump is going to go in 36 days. That gives the company time to still use that pump and schedule the proper maintenance and get the right part out there – because God knows these operations are pretty remote – and that way you’re not losing any time and running the system to failure. That’s the piece we’re focused on.”

1-16_FEB18_Main .indd 7

Screenshot of Aspen Technology’s Mtell software in operation. Credit: Aspen Technology Saucier says Mtell will seek out similar warning signs on any static or dynamic assets such as heat exchangers and pumps as well as crushers or tailings monitoring systems. But how does it do it? Mtell uses what AspenTech calls “low-touch machine learning,” which cleverly deploys autonomous software “agents” that watch live equipment feeds to look for normal and abnormal behavior patterns that ultimately identify the “signatures” of failures. These agents are created by an Mtell proprietary software “wizard” that analyzes years of data and weaves it into a simple chart known as a probability waveform. The re are four pat te r n s t h at emerge in the waveform: offline, failure, hidden failure and normal. Once all offline data is removed, the wizard seeks out failure signatures defined as “multi-variant and temporal changes in behavior patterns” leading up to a recorded

event. An a gent is created for each failure event. The agent will send out an alert when a failure is detected. Spikes or changes in behavior that do not lead to an event are defined as hidden failures and the wizard creates more agents for each instance. The Mtell wizard then removes all the failure and hidden failure patterns from the waveform. All that’s left is considered normal. Then an anomaly detector agent is sent out to monitor any variations in normal behavior. If an anomaly is detected but doesn’t match any previous failure patterns, it will trigger an alert that requires an inspection to determine the c ause. The event is either categorized as a new variation of normal or a new failure event. If it’s considered normal, the baseline is then adde d to the anomaly detector agent so it won’t set off an alarm if that behavior pattern happens again.

If the anomaly is deemed to be a failure event, a new failure agent is created that allows the software to detect the problem sooner, essentially learning as it goes. All of these Mtell agents can be fine-tuned to provide a company with whatever it wants in terms of prescriptive maintenance. For example, Saucier cites a Fortune 500 energy company that operates two liquefied natural gas terminals. In the past, the company’s internal management system had produced scheduled maintenance work orders based on calendar triggers, whether the maintenance was required or not. Once Aspen Mtell was implemented, Saucier says, it reduced t he wor k by as muc h as 60% when compared with scheduled maintenance based on equipment runtime hours. Another tool the company offers is Aspen Fidelis Reliability. Through simulation, the software predicts the future performance

of a plant and the variations in that performance given the current design, operations, logistics, maintenance and market dynamics. Fidelis models can be custom designed to fit almost any situation and help managers make better decisions about where to deploy capital. For example, an engineer in any depar tment can quickly build a specific model to tackle a problem. Once a solution is found, managers can determine how to proceed. Fidelis, formerly known as Fidelis Titan 2, was acquired by AspenTech in 2016 to increase their focus on asset optimization, by enabling customers to optimize the design, operation and maintenance of their assets throughout the asset lifecycle. Saucier has some advice for mining company executives seeking software that will lower costs and boost uptime. “If I were a purchaser of software, I would be completely overwhelmed because everyone is saying the same things. It’s all predictive analytics; it’s all prescriptive analytics. And people use nuanced terms like ‘machine learning,’” Saucier explains. “Make sure you do your research,” he says. “Make sure you find a software provider that can work with all of your equipment, not just one piece or even three pieces. And make sure they have a staff and a true machine learning solution that can work with you long after the pilot phase.” — The preceding Joint-Venture Article is PROMOTED CONTENT sponsored by Aspen Technology, Inc., and compiled in cooperation with The Northern Miner. Visit www.aspentech.com for more information.

2019-02-12 8:20 PM

WWW.NORTHERNMINER.COM

FEBRUARY 18–MARCH 3, 2019 / THE NORTHERN MINER

Rio Tinto on the lookout for BC porphyry deposits AME ROUNDUP

| Rio Tinto’s Welton says major has surprisingly lean exploration team “MY EXPLORATION MANAGER REMINDS ME THAT TO BALANCE OUR PORTFOLIO IN CANADA, HE WANTS A B.C. PORPHYRY.”

BY MINING.COM VANCOUVER

ritish Columbia is known for its coal and copper-gold deposits, with a storied history of mining all three commodities. Now the second-largest mining company in the world is looking to add a B.C. copper porphyry deposit to its portfolio of development properties. Speaking at the opening ceremony of the Association for Mineral Exploration’s Roundup 2019 convention in Vancouver, Rio Tinto’s (LON: RIO; NYSE: RIO) exploration director for the Americas Region, Chris Welton, said his company is scoping out B.C. for a copper play. “We would like to be exploring in B.C., but we just need to find the right project,” Welton said. “My exploration manager reminds me that to balance our portfolio in Canada, he wants a B.C. porphyry.” Porphyry deposits are sought after because they are low grade, but large, allowing for bulk mining and economies of scale. Commercially viable copper porphyry deposits

CHRIS WELTON AMERICAS EXPLORATION DIRECTOR, RIO TINTO

typically contain 100 million to 5 billion tonnes ore, with grades between 0.2% and 1% copper. Rio Tinto’s Bingham Canyon Mine in Utah produces an annual 300,000 tonnes copper. Gold, copper, molybdenum, silver and lead are among the metals found in porphyries. Some of B.C.’s largest copper and gold deposits are porphyries, including the Highland Valley Copper Mine, KSM, Prosperity and New Afton.

Welton said his company’s exploration arm, known as RTX, dedicates half of its global exploration budget to copper, with the rest focused on eight other commodities in 16 countries. The 24-year Rio veteran said that contrary to popular belief, despite being a large company, Rio Tinto has a limited exploration budget. “If we keep the budget tight, keep the teams lean, and focus those now-scarce resources and valued resources on only the very best op-

portunities, this will make sure that as much of the budget as possible goes in the ground, and it will force the geologists or the exploration manager to only test those targets they believe will deliver results. Only then can we improve discovery rates,” Welton said. Another point made by Welton: Juniors need to think ahead. Way ahead. He noted that a greenfield program typically takes 15 years to make a discovery, and another 10 to 15 years to progress the discovery into a mine. “Our portfolio today will be delivering metals and minerals to the market in 15 to 25 years’ time. As explorationists, can we predict what the world will want in 15 years?” He gave the example of Rio’s Jadar lithium borate project in Serbia. Preliminary exploration took place in 1998. It wasn’t until 2004 that a discovery hole was drilled, and it took another four years until a Joint Ore Reserves Committee Code-compliant resource estimate was published. “So we’re 14 years and counting since the discovery. Who could

predict the hype around [electric vehicles] — and therefore the lithium sector — eight years ago?” In his concluding remarks, Welton addressed the question many in the audience wanted to ask: what does a major mining company like Rio Tinto look for in a junior resource firm? “Our focus is on optionality and upside,” Welton said, adding that his company is “not interested in kicking tires or using project reviews to acquire data. We’re reviewing the project because we want to understand if we can add value to progress it.” He also dismissed a common perception that a major wants to “squeeze the discoverer out of the project,” noting Rio Tinto is generally more interested in projects than companies. “We rarely want to make placement in companies, as you end up with two different parties with different priorities, and that makes for conf lict in the relationship,” Welton said. “Initially we seek to put as much money in the ground as possible.

Regional Mining Alliance cements new partnership in Golden Triangle AME ROUNDUP BY MINING.COM

VANCOUVER

new partnership between First Nations, exploration companies and the B.C. government — named the British Columbia Regional Mining Alliance (BCRMA) — is working well to advance mineral exploration and mining in northwestern British Columbia. That was the message behind a panel discussion held at the Association for Mineral Exploration’s (AME) annual Roundup convention in Vancouver. The four-day annual event is a chance for mineral explorers, mining companies, government representatives, mining suppliers, geologists and academics to exchange ideas, technologies and project updates. At “The Gathering Place” — a room at the Pan Pacific Hotel fronted with a traditional First Nations longhouse — a series of presentations centred on fostering mutually beneficial relationships between indigenous groups and the mining industry. The panel session on the BCRMA

| BC Premier pledges $1M for group linking First Nations, mining industry and gov’t

was hosted by David Nikolejsin, Deputy Minister of B.C.’s Ministry of Energy, Mines and Petroleum Resources, and panellists included: Walter Coles Jr., president and CEO of Skeena Resources; Chad Day, President of the Tahltan Central Government; Charlie Greig, vicepresident of exploration for GT Gold; Corinne McKay, secretary-treasurer of the Nisga’a Lisims government; Rob McLeod, president and CEO of IDM Mining; and Ben Whiting, vice-president of exploration for Dolly Varden Silver. Formed last May, the BCRMA is a pilot project between the provincial government, the Tahltan Central Government, the Nisga’a Lisims Government, AME and three junior resource companies: Dolly Varden Silver (TSXV: DV; US-OTC: DOLLF), Skeena Resources (TSXV: SKE; US-OTC: SKREF)and GT Gold (TSXV: GTT; US-OTC: GTGDF). A fourth company, IDM Mining (TSXV: IDM; US-OTC: IDMMF), has since joined the alliance. All four juniors are working in northwestern B.C.’s Golden Triangle, which was the site of three gold rushes and some of Canada’s

greatest mines, including Eskay Creek, Snip and Premier. Snip and Eskay Creek were high-grade mines, with Snip producing at 27.5 grams gold per tonne during the 1990s. Eskay Creek at one time was Canada’s highest-grade gold mine and the world’s fifth-largest silver producer. The Golden Triangle is remote, and when metal prices slumped in the early 2000s, exploration activity dwindled. The B.C. government helps renew interest in the area by building infrastructure: the 335 km Northwest Transmission Line, a three-dam hydroelectric facility and the paving of the Stewart Cassiar Highway north from Hazelton. Glacial recession has uncovered much of prospective

to go to the outside world to talk to investors — to live that lifestyle of a junior exploration company.” IDM Mining recently received an environmental assessment certificate (EA) from the provincial and federal governments for its Red Mountain gold project in the region. “Working with Nisga’a as a third level of government throughout the process was wonderful to get all the impact, traditional knowledge and economic considerations, so we’re really happy to be part of it, and we hope to continue for them to grow,” IDM’s McLeod said. B.C. Premier John Horgan announced another $1-million funding for the BCRMA while speaking at the opening of Roundup.

‘Young Mining Professionals of the Year’ AWARDS From 6

this gets reflected in the quality of my work, and my enthusiasm at the office. I’m totally converted now, and a strong believer in the physiological and mental benefits of work-life balance. There are times where the demand of work will make balance difficult to achieve in the short-term, and that is part of the job, but we should always be striving for balance in the long-term. JV: Our industry requires us to be in the field and the more time we spend looking at rocks or learning new mining or metallurgy methods, the better professionals we become. I believe that the key is to make the workplace interesting so more people will be attracted to the lifestyle and to the promise of self-betterment, and the sense of adventure that the profession offers. I don’t think all millennials want to spend all of their time in front of a computer or to be always working from home. In the past the rotational nature of the work of many geologists and mining

1-16_FEB18_Main .indd 8

mineral terrain. Tahltan President Day said joining the BCRMA was also a way for the Tahltan to strengthen bonds with the Nisga’a Nation, who signed B.C.’s first modern-day treaty in 2000. He noted that hundreds of Tahltan are working in mines and mineral exploration, bringing home an annual $20 million a year — not counting revenue sharing from mines and provincial tax credits. He also sees BCRMA membership as an “opportunity to further increase capacity, by getting a more holistic understanding of the industry by being able to go to government [and] go with these exploration companies to understand the reality they face when they need

engineers managed to attract a lot of professionals, and I do not believe that today this lifestyle is unattractive to millennials. TNM: What big changes do you see happening in the mining industry? ASG: We’ve seen a strong push on technologies these past few years, and this trend is here to stay. Environmental and community engagements are becoming, rightly so, top priorities for management. Shareholder activism will keep management teams on their toes. Some of the biggest challenges, for the industry as a whole, will be to motivate the younger generation to join the industry and get younger investors interested in mining stock. On the positive side, the industry is taking diversity seriously, and I’ve seen great improvements in the past years. JV: There have been many advances in our industry which have not been well publicized. For example, bio-leaching, long-hole mining at 1-metre width, new artificial intelligence that maneuvers block

modelling, etc. We can achieve much thanks to technological development, but one of the big challenges we have today is the lack of sufficient sharing of information. During the 1970s and 1980s, the biggest changes were with regards to metallurgical breakthrough, such as the introduction of solvent extraction–electrowinning for copper and the use of cyanide in gold processing. In the case of mining, it was also the use of bigger trucks. I believe the more substantial changes in our industry today will come with the increase in use of automated trucks, and mining equipment in general. Another source of innovation will come from the use of alternative energies, which I believe will have a big impact on costs. That in turn may allow us to process deposits whose developments have not been considered economically feasible, previously. In general, I believe that the mining industry will need to work more collaboratively to have a bigger impact on technological innovations in the modern world. TNM

2019-02-12 8:20 PM

UNITED STATES

SPECIAL FOCUS

Liberty Gold’s Goldstrike gold project in southwest Utah. LIBERTY GOLD

Liberty Gold advances Black Pine, Goldstrike GOLD

| Both properties host historic and shallow open-pit mines

Premier Gold to launch two mines in next 18 months DEVELOPMENT

| Debtfree producer has strong treasury BY TRISH SAYWELL tsaywell@northernminer.com

Liberty Gold’s geoscience team on a visit to Newmont Mining’s Long Canyon gold deposit in Nevada, from left: Moira Smith, vice-president of exploration and geoscience; April Barrios, project geologist; Randy Hannink, project geologist; and Pete Shabestari, regional geologist. Missing from the team photo: Will Lepore, project geologist. Smith was instrumental in advancing Long Canyon with Fronteer Gold before Newmont bought the company for $2.3 billion in 2011. LIBERTY GOLD BY TRISH SAYWELL

tsaywell@northernminer.com

iberty Gold (TSX: LGD) has shown an interest in pastproducing oxide gold projects in the Great Basin area of the southwest United States. The historic Goldstrike heapleach mine on its Goldstrike project in Utah’s portion of the Great Basin produced 209,000 oz. gold from 12 shallow pits at an average grade of 1.2 grams gold per tonne between 1988 and 1994. In Idaho, the historic Black Pine heap-leach mine on the site of its Black mine project produced 435,000 oz. gold at a grade of 0.63 gram gold from seven shallow pits between 1992 and 1997. The company plans to drill both projects again this year and has high hopes for each of them. But Moira Smith, the company’s vice-president of exploration and geoscience, says she anticipates Black Pine results the most because, after an 18-month wait, the company is on the cusp of getting a large plan of operations permit-

1-16_FEB18_Main .indd 9

ted that will open up a 7 km area within a 12 km gold system. Shallow historic drilling and mining of outcropping gold mineralization on the Black Pine property in southeastern Idaho, northwest of Snowville, Utah, has left compelling targets at depth between pits and pit margins, she says, as well as beneath historic drilling, where the median drill hole depth is less than 100 metres. Of the 1,866 historical holes drilled at Black Pine, 19% bottomed in oxide gold mineralization and 42% had unmined gold intercepts. Some of the unmined gold intercepts included 1.80 grams over 50 metres; 2.85 grams gold over 23 metres; 3.63 grams gold over 17 metres; and 6.88 grams gold over 11 metres. While the average historic life-ofmine head grade at Black Pine was just 0.63 gram gold, there was variability in mined head grade, with 30% of production coming from three of the seven pits averaging 1.2 grams gold. This is reflected in

remier Gold Mines (TSX: PG; US-OTC: PIRGF) expects two new mines will come online over the next 12 to 18 months in Nevada at its South Arturo project, a 40%-owned joint venture with Barrick Gold (TSX: ABX; NYSE: GOLD). Production from South Arturo’s phase-one open pit is expected to start sometime in early or mid-2020, while the El Nino underground mine — a down-plunge extension of the joint-venture’s phase-two open pit that was mined from 2016–2017 — will ramp up late in the second half of 2019. “We should see a continuous expansion of Premier’s production profile,” Ewan Downie, the company’s president and CEO, tells The Northern Miner. “We’re quite excited about the company we’re building … hopefully, in the not-too-distant future, we’ll be generating sufficient cash flow to start giving it back to our shareholders.” South Arturo is 5 km from Barrick’s Goldstrike operation and 40 km northwest of the town of Carlin in Elko County. Mineralized material from South Arturo is processed at Goldstrike. The two open-pit mines and underground El Nino project are on the site of the reclaimed Dee open-pit mine, where mining last took place See PREMIER / 14

DU AT VIS RI BO IT U NG OT S SM H 1 E 2 531 01 9!

FIT-FOR-PURPOSE SOLUTIONS Our fit-for-purpose solutions encompass the skills of qualified geologists, geostaticians, chemists, mineralogists, metallurgists and mining engineers brought together to provide accurate and timely mineral evaluation and consulting services across the entire mining life cycle. SGS IS THE WORLD’S LEADING INSPECTION, VERIFICATION, TESTING AND CERTIFICATION COMPANY

WWW.SGS.COM/MINING MINERALS@SGS.COM

See LIBERTY / 10

2019-02-12 8:20 PM

FEBRUARY 18–MARCH 3, 2019 / THE NORTHERN MINER

UNITED STATES

WWW.NORTHERNMINER.COM

View to the south of the historic C-D pit at Liberty Gold’s Black Pine gold project in Idaho. LIBERTY GOLD

Liberty Gold advances Black Pine, Goldstrike LIBERTY From 9

high grades obtained during drill definition of the historic mineralization in these pits, including 14.66 grams gold over 20 metres; 19.13 grams gold over 24 metres; and 7.15 grams gold over 32 metres.

So far, Liberty Gold has drilled 13 holes of its own under a plan of operations that came with the property acquisition. Its second hole, No. 2, drilled the best unmined intercept on the property beneath historic gold mineralization, returning 78 metres of 1.49 grams gold. Drill

You, your project, and the financier are on different continents...

We're your common ground.

> 1400 professionals • >45 offices • 20 countries • 6 continents \ " ...,.. .

1-16_FEB18_Main .indd 10

hole 6 cut 1.80 grams gold over 8 metres; drill hole 4 returned 6.18 grams over 2 metres; and hole 11, 10.7 metres of 2.37 grams gold. This year Smith plans to drill up to 20,000 metres. The geologist has found three target types for the drill program: down-dip, gold-mineralization extensions from mined pits under shallow cover; unmined mineralization bodies identified by previous owners; and undrilled, high-priority gold-in-soil anomalies. “Most historic drill holes were ... 92 metres deep, and a lot of them ended in mineralization, and our 3-D modelling suggests we have quite a bit of room underneath that would be prospective for mineralization. So we’re going to test as many areas as we can over that 7 km to see if our model is correct, and see if there is mineralization there,” Smith says. “Some time last year we put out guidance that there is potential for 2–4 million oz. in that gold system,” she adds. “That’s the size of the system we’re looking for there. We have 1,866 historic drill holes and quite a few of those have a lot of gold mineralization in them. I can’t name another gold anomaly at surface in the Great Basin that is that large, and ... hasn’t been mined already, or [isn’t] in production or [isn’t] being heavily explored, so this is an amazing opportunity for us.” Liberty Gold acquired the property from Western Pacific Resources in June 2016 for US$800,000 in cash, 300,000 shares and a 0.5% net smelter return royalty. Black Pine’s large, shallow, Carlin-style gold system is similar to Liberty Gold’s Goldstrike project in southwestern Utah, next to the Nevada border. The company intends to drill at least 10,000 metres at Goldstrike this year, and update its resource estimate before the end of 2019. A maiden resource completed in February 2018 outlines 49.6 mil-

“WE PUT OUT GUIDANCE THAT THERE IS POTENTIAL FOR 2–4 MILLION OZ. IN THAT GOLD SYSTEM ... I CAN’T NAME ANOTHER GOLD ANOMALY AT SURFACE IN THE GREAT BASIN THAT IS THAT LARGE, AND ... HASN’T BEEN MINED ALREADY, OR ISN’T IN PRODUCTION, OR ISN’T BEING HEAVILY EXPLORED.” MOIRA SMITH VICE-PRESIDENT OF EXPLORATION AND GEOSCIENCE, LIBERTY GOLD

lion indicated tonnes grading 0.54 gram gold per tonne for 865,000 contained oz. gold, and 16.4 million inferred tonnes averaging 0.52 gram gold for 274,000 oz. gold. The resource is based on 1,730 drill holes — both historic holes and those drilled by Liberty Gold — and uses a cut-off grade of 0.25 gram gold. A preliminary economic assessment from mid-2018 uses a lower cut-off grade of 0.20 gram gold and envisions a 7.5-year mine life, with average annual production of 95,000 oz. gold. The study estimates directoperating cash costs of US$642 per oz., and all-in sustaining costs of US$793 per oz. gold. The early-stage study does not include benefits from by-product silver production or processing any residual gold from historic leach pads on the property, which are being drill tested. In November, the company upgraded the plan of operations to expand access along the Goldstrike deposit trend from a fragmented area of 5.11 sq. km to a contiguous 8.66 sq. km area. Within this area, the company is no longer restricted to operating on site-specific roads and drill pads with fixed locations. This gives Liberty more flexibility when it comes to infill and step-out drilling in and around all of the zones in the current resource.

“Now we’re in really good shape in terms of going where we need to go, and doing what we need to do,” Smith says, noting that her focus will be on the Dip Slope zone along the northern margin of the deposit, where drill holes on fixed, widely spaced pads did not adequately test the shallow mineralization, and where access to many areas was previously unavailable. In 2018, the company drilled 24,700 metres in 200 reverse-circulation and 15 diamond core holes focusing on several goals: infill and expansion of the resource; testing the historic heap-leach, stockpile and waste dump areas that are largely situated within the PEA pit, and counted as waste in the model; and examining new targets across the property. The overall objective was to connect oxide mineralization zones to form a larger, single pit. In January, Liberty Gold released more infill and step-out results from RC drilling along the southern margin of the main Goldstrike deposit in the Peg Leg zone, with highlights of 2.95 grams gold over 18 metres in hole 670 and 1 gram gold over 14 metres in hole 669. Assays from the Hamburg Extension zone include 1.29 grams gold over 37 metres in hole 677, and 1.18 grams gold over 6 metres in hole 676. TNM

2019-02-12 8:20 PM

UNITED STATES

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 18–MARCH 3, 2019

UNITED STATES SNAPSHOT

Ten companies with projects on the go in the USA Mining and mineral exploration in the U.S. has been on an uptick in recent years, thanks to higher gold and silver prices, and an easing in some regulatory burdens. Here’s a look at 10 companies involved in mining or mineral exploration in the United States.

development Mariposa County, on 14 sq. km of patented land in the prolific Mother Lode gold belt that has historically produced over 50 million oz. gold. Total open-pit resources calculated in 2016 stand at 17.2 million indicated and inferred tonnes grading 1.60 grams gold per tonne, for 879,000 contained oz. gold.

AMERICAS SILVER Toronto-based junior silver miner Americas Silver (TSX: USA; NYSEAM: USAS) has two operating mines in Mexico and Idaho, plus a development project in Mexico, and ranks as one of the lowest-cost silver producers globally. In Mexico, Americas Silver achieved commercial production in the fourth quarter of 2017 at its San Rafael silver-zinc-lead mine, which is part of its wider Cosala operations in Sinaloa State. In Idaho, the company has its Galena silver-lead mine and mill complex. In 2018, from the two mines, Americas Silver reported consolidated production of 6.3 million equivalent oz. silver, plus 1.4 million oz. silver, or a 32% increase and 31% decrease, compared to fiscal 2017. Consolidated all-in sustaining costs were US$9.82 per oz. silver, in a 28% decrease yearover-year. “The fourth quarter of 2018 was the best production quarter, and representative of expected production going forward, with San Rafael reaching targeted throughput levels, and improved operating performance at Galena in 2019,” said Darren Blasutti, president and CEO of Americas Silver. In Mexico’s Sonora State, Americas Silver has its San Felipe silver-leadzinc development project — a high-grade past producer acquired by Hochschild in 2006, which spent US$45 million on the asset. Americas Silver is merging with Pershing Gold in a deal that should close soon. AMERICAN CUMO MINING Vancouver-based American CuMo Mining (TSXV: MLY; US-OTC: MLYCF) describes itself as being “directed by industry experts, with more than 260 years of combined environmental policy, regulation, permitting, compliance, geological exploration, mine planning and sustainable development expertise.”

The processing plant at McEwen Mining’s Gold Bar gold mine, set to start production by March 2019. MCEWEN MINING underground, having produced from seven separate shear zones containing important quantities of gold, silver and copper.” BARKSDALE CAPITAL Barksdale Capital (TSXV: BRO; US-OTC: BRKCF) is a base and precious metals exploration company based in Vancouver. The company’s flagship project is called “Sunnyside,” and is next to South32’s newly acquired TaylorHermosa zinc-lead-silver-copper deposit in Santa Cruz County, Arizona. Barksdale says Sunnyside “represents a potentially worldclass, advanced-stage exploration asset,” and that it has a “robust treasury and a tight share structure, allied with strong institutional support.” During 2018, Barksdale carried out reconnaissance geological mapping, geochemical sampling and geophysical surveying to generate targets for further fieldwork and proposed drilling this year. In January, Barksdale closed a nonbrokered private placement with Osisko Gold Royalties (TSX: OR), with Barksdale issuing 5.83 million shares at 60¢ per share for $3.5 million in gross proceeds. There are 38,489,686 Barksdale shares outstanding, with Osisko owning 15.2%. BUNKER HILL MINING Toronto-based junior Bunker Hill Mining (CSE: BNKR; US-OTC: BHLL) says it is “uniquely positioned to redevelop one of the largest zinclead-silver deposits in the Americas not in production.” Its flagship asset is an option to acquire the dormant

Bunker Hill mine in northern Idaho’s Silver Valley. Historic reserves and resources at Bunker Hill stand at 9.1 million tons (8.3 million tonnes) grading 5.08% zinc, 2.35% lead and 1.29 oz. silver per ton. Management says there is “nearterm access to at least seven years of mineable material at 1,500 tons [1,400 tonnes] per day,” with the highest-grade zones running at more than 20% combined lead and zinc. Bunker Hill says the area has excellent infrastructure, with paved road access, low-cost power, water, skilled labour and mining services. It says Idaho is “mining friendly and a ‘right-to-work’ state.” Bunker Hill ran into trouble in October 2018, when it reported it was “in default of its lease with an option-to-purchase agreement with Placer Mining Corp., the lessor of the Bunker Hill mine.” By November, the lease had been reinstated and Bunker Hill had closed a $484,000 private placement for the Bunker Hill project. Wayne Parsons has since joined Bunker Hill as a director, after helping negotiations to reinstate the lease. CALIFORNIA GOLD MINING Toronto-based junior California Gold Mining (TSXV: CGM; USOTC: CFGMF) is advancing its wholly owned, flagship Fremont high-grade gold project in central California. The property is 150 km east of San Francisco in relatively pro-

The company acquired the property in 2013, and as of mid2018 had carried out four drilling phases totalling 16,100 metres, and preliminary metallurgical testing showing 93% recoveries from an oxide cap, and 86% from sulphide zones. The company is led by president and CEO Vishal Gupta, a geologist and former mining equity analyst. GOLDCLIFF RESOURCE Goldcliff Resource (TSXV: GCN; USOTC: GCFFF) sees itself as a “minedevelopment company focused on near-term cash flow by applying the phased production business model to precious metals assets.” The Vancouver-based junior is funding engineering and permitting on the Pine Grove gold project in Lyon County, Nev., in which it has a 40% joint-venture interest, and is being developed by operator Lincoln Mining. Goldcliff recently raised $350,000 by issuing a convertible promissory note to George Sanders — Goldcliff’s president and CEO — that is convertible into common shares at 7¢ per share until January 9, 2020, and bearing interest at the rate of 7.5% per annum, payable semi-annually. Proceeds are earmarked for working capital and for permitting activities at Pine Grove. Goldcliff is earning its 40% interest by spending US$1.4 million over three years. Pine Grove is comprised of two deposits — Wilson and Wheeler — which host cumulative measured and indicated resources of 3.1 million tonnes grading 1.37 grams gold per tonne at a 0.24 gram gold cut-off grade. KINROSS GOLD Major gold miner Kinross Gold (TSX: K; NYSE: KGC) produced 2.5 million oz. gold equivalent in 2018 from the three regions: the Americas (80% of output); Russia (20%); and West Africa (20%).

In the U.S., Kinross has three gold mines: Fort Knox in Alaska, Round Mountain in Nevada and Bald Mountain in Nevada. Fort Knox is one of Kinross’ largest producing mines, and Kinross considers it one of its “centres of excellence,” as one of the few coldweather, heap-leach facilities in the world. In 2016, the open-pit mine poured its 7-millionth ounce of gold, 20 years into its mine life. Kinross is proceeding with the Gilmore pit-expansion project at Fort Knox, which should extend Fort Knox’s mine life to 2030. The company says early construction work began in the recent third quarter, with initial production from Gilmore expected in early 2020. In January 2016, Kinross acquired the 50% of Round Mountain it did not already own from Barrick Gold, consolidating ownership in what it calls one of its “best-run and established mines.” Kinross is also carrying out a pit expansion project at Round Mountain that will add five years of mine life and 1.5 million oz. gold of production. In October 2018, Kinross acquired 50% of the Bald Mountain joint venture zone from Barrick Gold to consolidate ownership to the 100% level in the Bald Mountain property, which Kinross says is the largest private mining land package in the United States. MCEWEN MINING McEwen Mining (TSX: MUX; NYSE: MUX) is on the cusp of first production at its new Gold Bar gold mine project in north-central Nevada’s prolific Battle MountainCortez trend, with the company confirming that commercial production will begin by March, just 14 months after breaking ground in November 2017. In a Feb. 5 update, McEwen said the project is on track to achieve the original US$81.4-million capital cost estimate, and that 150,000 tons ore have been placed on the heap-leach pad since starting in December 2018. Leaching started in January, and gold is being dissolved by the cyanide solution at the desired rate. McEwen says the Gold Bar mine will produce 55,000 oz. gold in 2019 at an all-in cost of US$975 per oz. gold, but said December and

See SNAPSHOT / 15

The junior is advancing two grassroots projects in Idaho: the large, wholly owned CuMo coppermolybdenum project, and its newly acquired Calida gold project. In the CuMo project near Boise, the firm says it has “discovered one of the largest deposits of molybdenum, copper, silver, tungsten and rhenium in North America,” and it is advancing it towards feasibility with the goal of being “one of the world’s largest and lowest-cost primary producers of molybdenum.” In Calida (the Spanish word for “warm”), CuMo Mining has picked up a property located south of the town of Salmon within the Mormon Canyon area. The property includes 53 unpatented lode mining claims, with “numerous old producing mines both surface and

1-16_FEB18_Main .indd 11

2019-02-12 8:20 PM

FEBRUARY 18–MARCH 3, 2019 / THE NORTHERN MINER

UNITED STATES

WWW.NORTHERNMINER.COM

Viva breathes new life into Tonopah in Nevada GOLD

| Junior able to better assess property after rejigging restrictive royalty

BY TRISH SAYWELL

tsaywell@northernminer.com

ames Hesketh had his eye on Midway Gold’s Tonopah project — 30 km southeast of the Round Mountain mine in Nevada’s Walker Lane trend — since 2007. So when Midway Gold went bankrupt a decade later, Hesketh struck a deal to buy the project for US$25,000 in cash, another US$130,000 in fees to replace a bond, and a promise to pay a US$350,000 debt that Midway owed to the royalty holders on the property. He then turned around, negotiated to cut the debt he owed to US$75,000, and offered them 1.5 million shares in his capital pool company. Most importantly, however, he slashed the 7% net smelter return royalty (NSR) on the project down to a more manageable 2% NSR, adding a clause that he could repurchase 1% of the NSR for US$1 million. “It wasn’t a royalty we could work with,” recalls Hesketh, who subsequently founded Viva Gold (TSXV: VAU; US-OTC: VAUCF) to develop the asset. It was the royalty, Hesketh says, that had driven Midway Gold to consider — in his view — lessthan-optimal ways of advancing the project. “Because of the very high royalty, they were looking at it solely as a small, high-grade underground project, but the issue with that is about 80% of the resources are within 100 to 150 metres of surface,” he says. Viva Gold took Midway Gold’s National Instrument 43-101 compliant resource on the project, based on 300 drill holes, and dropped the cut-off grade of 3 grams gold per tonne down to 0.25 gram gold per tonne.

Geologist Ed Bryant at work on Viva Gold’s Tonopah gold project in Nevada. VIVA GOLD

“Most people don’t realize it, but royalties have to be included in cutoff grade calculations,” Hesketh says. “By dropping the royalty, we could lower the cut-off grade and look at what the deposit was telling us it should be, rather than what the

Driller and griller Daniel Nidto at Viva Gold’s Tonopah gold property in Nevada. VIVA GOLD

1-16_FEB18_Main .indd 12

previous owners had wanted it to be.” Now Tonopah’s pit-constrained resource tallies 186,000 oz. gold in the measured and indicated category contained within 6,700 tonnes grading 0.95 gram gold per tonne, and another 238,000 oz. in 9,600 inferred

tonnes grading 0.77 gram gold. In December, Viva Gold started a 1,500-metre, reverse-circulation (RC) drill program over 12 holes that will focus on infilling between known mineralized structural zones and testing extensions. Partial results released at the end of January include 46 metres grading 2.2 grams gold from 143 metres’ depth, and 5 metres of 6.05 grams gold from 108 metres downhole. Highlights from its 2018 drill program include 138 grams gold over 2 metres starting 64 metres downhole; 19.2 grams gold over 2 metres from 90 metres downhole; 12.90 grams gold over 1.5 metres from 90 metres downhole; and 14.9 grams over 2 metres from 99 metres downhole. In addition to more drilling this year, Viva Gold is starting a program of 20 bottle-roll metallurgical tests using samples collected from its 2018 drill program. Hesketh describes Tonopah as a “good business proposition” that offers a “really nice opportunity.” “It has a very strong, high-grade core, which is always good when you’re designing and building a mine, and the core, in this case, is readily accessible. It’s close to surface and will be the first material mined, so it’s a mine that you can rapidly pay back.” So far, two shallow, high-grade zones (Discovery and Dauntless) have been found a couple of hundred metres apart from each other, down to 200 metres. “There is substantial lateral expansion capability, so we may as well drill shallow and expand the resource laterally,” he says. Hesketh has degrees in mining engineering and mineral economics from the Colorado School of Mines, and has worked for a number of mining companies, including Cypress Amax and Canyon Resources Corp., which merged with Atna Resources. While Hesketh is convinced Tonopah’s economics will be good, he also recognizes the challenges, given that the bedrock is covered by gravel, with only one outcrop on the property.

“MOST PEOPLE DON’T REALIZE IT, BUT ROYALTIES HAVE TO BE INCLUDED IN CUT-OFF GRADE CALCULATIONS.” JAMES HESKETH CEO, VIVA GOLD

Kennecott found the deposit in 1993 with the help of geophysics, and its discovery hole returned an 8-metre intercept of 13 grams gold. The property has also seen work from Newmont Mining (NYSE: NEM), which optioned the project from Midway Gold between 2002 and 2004. “We have extensive geophysics, extensive surface and sampling, and we’ve got a number of areas where there’s a lot of broad-spaced, recon drilling over large areas, and some of that was successful and some of it wasn’t. But there are definitely holes out there that need to be followed up.” Longer term, he says, Viva Gold will review the overall “data packet” and develop more targets in and around its property, based largely on the data that came with the acquisition. The operations plan allows for disturbance of up to 75 acres, and so far Viva has only drilled 9 acres. “It has got a great geometry, and the high grade is where you want it,” he says. “It will be right in front of us.” Over the last year the junior has traded within a range of 21¢ to 50¢ per share, and at press time shares were changing hands at 32¢ apiece. The company has 21 million shares outstanding for a $6.7-million market capitalization. Management owns 13% of the company’s shares. The project is situated on the northeastern side of the San Antonio Mountains, 32 km northeast of the town of Tonopah in Nye County. TNM

2019-02-12 8:20 PM

UNITED STATES

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 18–MARCH 3, 2019

A drill site at American Pacific Mining’s Tuscarora gold project in Nevada. AMERICAN PACIFIC MINING

American Pacific grows Tuscarora property near Elko, Nevada EXPLORATION BY TRISH SAYWELL tsaywell@northernminer.com

eologist Eric Saderholm and venture capitalist Warwick Smith started looking for a mining project to collaborate on two years ago. The pair had worked together for five years at Western Pacific Resources (TSXV: WRP), which Smith co-founded in 2009, and where Saderholm served as president, before they brought in a financial partner and management team to run the company in 2014. “It was a great partnership and we think we have different skill sets that match up quite nicely, so we kept in touch over the years,” Smith says of his colleague Saderholm. After their stint at Western Pacific Resources, Smith took some time off while Saderholm rejoined Newmont Mining (NYSE: NEM) as the major’s exploration manager for the Western United States. He had previously worked for Newmont for 12 years. When the men learned in mid2017 that Novo Resources (TSXV: NVO; US-OTC: NSRPF) might option its wholly owned Tuscarora project at the foot of Mount Blitzen — 50 km northwest of Elko, Nev., and 35 km northeast of the Carlin trend — they jumped at the chance. At the time, Smith recalls, Novo was focused on Western Australia, where it had found gold nuggets on its Karratha gold project and was open to divesting its Nevada asset, while having a 0.5% net smelter return royalty (NSR) on the project. “Sometimes, timing is your friend,” Smith says. “Things were parabolic for them ... they raised more than US$30 million at $5 or $6 a share, and that changes your mindset fairly quickly, and gave us the opportunity to pick it up with discovery holes in it.” Drilling at Tuscarora by Novo Resources and the project’s previous owner, Newcrest Mining (ASX: NCM), had returned highgrade intercepts, including 2 metres of 368.31 grams gold per tonne within a 5-metre intercept of 127.08 grams gold starting from 151 metres downhole, and 51.06 grams gold over 2 metres from

1-16_FEB18_Main .indd 13

| Western Pacific execs reconnect to lead junior chasing precious metal veins

“GEOLOGICALLY, THERE IS NO REASON TO THINK THESE VEINS GO AWAY — THEY PINCHED OUT, BUT DIDN’T GO AWAY.” ERIC SADERHOLM PRESIDENT, AMERICAN PACIFIC MINING

210 metres downhole in the South Navajo zone. Assays from drilling the East Pediment zone included 52.37 grams gold over 2 metres, starting from 80 metres below surface. “We were thrilled to option the asset,” Smith says. “Surprised, but thrilled.” The low-sulphidation, epithermal gold prospect is in Nevada’s Tuscarora mining district, 35 km northeast of the Carlin trend; 20 km southwest of the Jerritt Canyon deposit, owned by Jerritt Canyon Gold, a subsidiary of Sprott Mining; and 50 km northeast of Hecla Mining’s (NYSE: HL) Midas deposit. After optioning the project in November 2017, Smith and Saderholm listed their company, American Pacific Mining (CSE: USGD; US-OTC: USGDF) in March 2018. Since then, the junior has tripled the property size, and drilled 16 holes in a 3,100-metre, initial drill program of reverse-circulation and core drilling on the South Navajo zone. Assays from the program include 18.40 grams gold over 2 metres starting 201 metres downhole; 16.06 grams gold over 3 metres from 198 metres downhole; and a 9-metre interval of 5.88 grams gold at the bottom of the hole from 195 metres downhole. “Not a lot of drilling has gone below 200 metres—that’s about the average so far,” Saderholm says of the high-grade vein system. “Drilling has proven that the cross-faults and structural intersections are well mineralized and worthy of further exploration, for what is mostly oxidized mineralization.” The whole district was found in the late 1860s by the early pioneers

American Pacific Mining CEO Warwick Smith and president Eric Saderholm (second and third from left) at the Tuscarora gold project in Nevada. AMERICAN PACIFIC MINING

and the “forty-niners” from the California gold rush. Production of silver-gold lode deposits began in 1875. It was a placer district to start off, Saderholm says, so the exact ounces that were mined is difficult to tell, although he estimates it could have been as many as 300,000 oz. gold. At one time the region had three mills and supported a working population of between 5,000 and 10,000 people. “The placer miners worked their way into the hills and as they did, discovered veins in the rocks and started to exploit them,” he says. “Most of the miners exploited the silver veins, but they started mining gold veins as they moved south toward our project.” When the veins they were following to the south were offset by faults beneath the gravel, however, they often gave up and went on to the next vein they could find, Saderholm says. “Geologically there is no reason to think these veins go away — they pinched out, but didn’t go away.” Nea r t he end of t he 19 0 0s, mining focused on the low silver and high-grade gold southern part of the district. The Dexter mine, an open-pit north of the

Tuscarora project, was mined between 1989 and 1991 by Horizon Gold Corp. and Chevron, and produced 40,000 oz. gold and 250,000 oz. silver. “The Dexter pit was mined for three years, but it’s a very small pit, and the veins that project through that pit never have been exploited south of the pit,” Saderholm says. American Pacific Mining plans to do more geophysics — a controlled source, audio magnetotellurics (CSAMT) survey across the property — to get a better sense of what lies beneath the gravel cover, and then it intends to permit and stage a second-phase, 6,000-metre drill program. “It will help us pick up the vein sets and the faults so that we’re not drilling all over the place,” Saderholm says. “Veins can be tricky because they can be thin, so if you drill all over, there’s a good chance you’ll miss them.” Saderholm says the strike length of the South Navajo vein alone is 1.6 km long. “As a geologist you want a challenge, and this is it,” Saderholm says, who adds he turned down an offer from Newmont to head up its exploration program in South America to work on Tuscarora. “It

was a big decision … but Newmont is a little big and bureaucratic, and I like the challenges of the junior market. It’s a smaller group of decision makers.” The geologist, who has worked on many large mines and projects, including Bingham Canyon, Carlin, Midas, Gold Quarry, Twin Creeks, Lone Tree, Mule Canyon, Black Pine, Genesis and Yanacocha, says permitting Tuscarora should be a breeze. “Elko is a mining-friendly county, so it’s going to be real easy to get additional permitting to drill these holes, and the CSAMT is not destructive — you don’t need a permit for that,” he says. “We got our permit last year in eight days, so things are getting pushed through the system quicker, which is nice.” American Pacific says it has almost completed its earn-in valued for $375,000 in cash and 800,000 of its common shares. Under the option agreement it can also buy Novo Resource’s 0.5% NSR for $500,000. The company is trading at 13¢ w it hin a 52-week range of 4¢ to 41¢. The junior explorer has 32.8 million shares outstanding for a $4.3-million market capitalization. TNM

2019-02-12 8:20 PM

FEBRUARY 18–MARCH 3, 2019 / THE NORTHERN MINER

Premier Gold Mines president and CEO Ewan Downie in front of a portal at its 40%owned South Arturo gold project in Elko County, Nevada. PREMIER GOLD MINES

UNITED STATES

WWW.NORTHERNMINER.COM

A drill site at Premier Gold Mines’ past-producing Cove gold property in Nevada’s Battle Mountain trend. PREMIER GOLD MINES

Premier Gold to launch two mines in next 18 months PREMIER From 9

in the late 1990s. Between 1984 and 1999, the Dee mine produced 605,000 oz. gold from oxide ore. (The joint venture’s phase-one, open-pit mine that is being built is the extension of the past-producing Dee pit.) Underground production started in 1999 and continued until December 2000, when both the open-pit and underground operations were shut down, and surface facilities were reclaimed. Barrick found the South Arturo deposit in July 2005 after drilling beneath the Dee openpit mine’s waste disposal facilities. Premier acquired its 40% stake in South Arturo in June 2015 from Goldcorp (TSX: G; NYSE: GG). Along with building the open pit, heap-leach material is being stockpiled for potential future processing. Premier plans to review engineering designs for the heap-leach option this year, and if approved, construction of the facility could begin in 2020. The company has also drilled several holes east of the phase-one pit that it is calling the East Dee target, which it says could become a mining centre on the property. Drilling last year at East Dee returned notable intersections, such as 12.78 grams gold per tonne over 5 metres within a broader intercept of 21 metres grading 6.52 grams gold, starting from 279 metres downhole; and 4.50 grams gold over 21 metres, starting from 243 metres downhole. The junior is confident that exploration success at South Arturo could support at least one other open-pit mine, which it is calling “phase three,” next to the two other open pits on the property. Highlights from 2018 drilling at the phase-three target include 1.36 grams gold across 154 metres from 239 metres downhole; 1.34 grams gold over 24 metres from 237 metres; 1.32 grams gold over 21 metres at 338 metres’ depth; and 0.95 gram gold over 18 metres from 250 metres downhole. Exploration drilling this year will focus on East Dee, El Nino and high-priority targets near the centre of the pits. Definition drilling at the East Dee target will lay the basis for a new resource estimate, while drilling at El Nino focuses on reserve definition and expansion. Premier increased its exposure to Nevada in November 2018 through an option agreement with Ely Gold to acquire a 100% stake in the Rodeo Creek property, adjoining South

1-16_FEB18_Main .indd 14

Arturo, 10 km northwest of Goldstrike. The 510 km land package abuts Halliburton’s Rossi Barite mine at its north boundary. Under the option deal, Premier must pay Ely Gold US$500,000 over five years, and Ely Gold will retain a 2% net smelter return royalty. Premier notes that a historic geochemical survey of the Rodeo Creek property confirmed that several of the property’s fault structures coincide with arsenic-antimony geochemical signatures. This year Premier is planning a soil sampling and geological mapping program, along with compilation of historic data. Drilling is planned for priority targets. Elsewhere in Nevada, Premier is working on mine development opportunities at its Cove, McCoyCove and Rye projects. Premier’s wholly owned Cove property is in northern Nevada’s Battle Mountain trend, 20 km south of Newmont Mining’s (NYSE: NEM) Phoenix mine and 50 km southwest of Battle Mountain. The Cove deposits consist of the Helen, Gap, Cove South Deep (CSD) and 2201 zones, which are located beneath the historically mined Cove open pit, and extend 600 metres northwest from the pit. Echo Bay Mines mined Cove between 1987 and 2001, and produced 2.6 million oz. gold and 100 million oz. silver. Production from heapleach pads continued until 2006. The Helen and Gap zones are Carlin-style, disseminated refractory gold deposits. Mineralization in the CSD is associated with disseminated sulphides, with silver to gold ratios of 50:1 to more than 100:1. The 2201 zone is made up of disseminated sulphides within sheeted stockwork veins, with lead and zinc concentrations. Cove has an indicated resource of 1.05 million tons grading 0.327 oz. gold per ton and 0.861 oz. silver per ton, for 342,000 contained oz. gold and 900,000 oz. silver. Inferred resources add 4.03 million tons at 0.328 oz. gold per ton and 0.609 oz. silver per ton for 1.32 million contained oz. gold and 2.46 million contained oz. silver. Results from a preliminary economic assessment released in May 2018 support Premier’s plan to build an exploration ramp to define and expand the deposits in advance of a feasibility study. The PEA estimated average gold production of 92,400 oz. a year over an eight-year mine

“WE WERE ONE OF THE FEW PRODUCERS OUT THERE WITHOUT A REVOLVER FACILITY. WE DON’T INTEND TO DRAW FROM THAT IN 2019, BUT IT DOES GIVE US ACCESS TO CAPITAL IF THINGS CHANGE, WITHOUT BEING IN PANIC MODE.” EWAN DOWNIE PRESIDENT AND CEO, PREMIER GOLD MINES

life, for total life-of-mine production of 740,000 oz. gold. Cash costs were an estimated US$788 per oz. and all-in sustaining costs of US$897 per oz. gold. Mine construction would cost an estimated US$46.6 million, with sustaining capital of US$67.7 million. The study is based on resources in the Helen and Gap deposits only. Premier says there is potential to boost resources at Helen and Gap because they remain open for expansion. The company also says there is potential to add resources from the CSD and 2201 zones with underground exploration and delineation drilling. Premier is working on a hydrological flow study and more permitting, with the view that the Cove deposit could become Premier’s next wholly owned mine development. “It’s likely one of the highestgrade, undeveloped plus 1 million oz. deposits in North America,” Downie says of Cove. “If it weren’t refractory it would be my favourite project for sure. We have to work with Barrick or Newmont to process that ore, and those will be some of the dealings we’ll do this year to hopefully get the project ready for full-scale production.” A year ago, Premier and Barrick signed a comprehensive agreement giving the gold major the right to earn a 60% interest in the McCoyCove property, which surrounds but excludes Premier’s Cove deposit, referred to as “the Cove carve-out.” Under the agreement, Barrick must spend US$22.5 million on exploration before July 2022. The 2018 exploration program found potential for two trends parallel to the Helen-Gap-CSD trend — the Piezo trend and the Alpha trend. Exploration included geochemical and rock-chip sampling to upgrade historic information. Rock chips returned high-grade gold values of up to 105 grams gold and 40.3 grams gold. Some samples also returned

lead and zinc mineralization. “Given Cove is a refractory deposit, we would need a roaster or autoclave in order to pull the gold out of the deposit, and we don’t want to permit and build a roaster in Nevada, so the question became: do we bring in a partner for the whole project, or part of it,” Downie says. “Barrick was quite interested in working with us on the overall project, but we weren’t able to agree to terms for them to earn-in into everything, but we did work out terms where they’re helping us to explore surrounding ground. They also gave us a guaranteed processing agreement, at least for a bulk sample from the project, and we’re hoping the relationship we build both through this and South Arturo will lead hopefully to a longer-term processing option for that project.” As part of the deal, Barrick is allowing Premier to earn 100% of the Rye property — a high-grade prospect found in the 1980s that has been idle for a decade. “We identified it as being one of the high-quality opportunities in Nevada that was sitting in a major, and not being worked,” Downie says. “So while we gave up a project we got a project, and our expectation is that if it works out, it would be non-refractory, and we could produce without using a third-party roaster or autoclave.” Barrick has a back-in right on Rye by spending US$3 million on exploration before the end of 2019. The Rye property has a gold-bearing, low-sulphidation epithermal vein system. The Rye vein has been traced on surface over a strike length of more than 2.5 km, with mapped widths of up to 30 metres. Previous shallow drilling at Rye has returned intercepts with gold grades of up to 139.2 grams gold. Rye is next to the Goldbanks property, where Premier has a jointventure earn-in agreement with Kinross Gold (TSX: K) to acquire a 50% stake in the project.

With two new mining operations under construction at South Arturo, and an underground program planned for Cove during the second half of 2019, Premier decided to raise money. In January it signed a definitive credit agreement with Investec Bank PLC for a US$50million, secured revolving-term credit facility — the first revolver the company has ever signed. “We were one of the few producers out there without a revolver facility,” Downie says. “We don’t intend to draw from that in 2019, but it does give us access to capital if things change, without being in panic mode.” In addition, Premier has signed a deal with Orion Mine Finance for total proceeds of US$18.2 million — giving the mine financier 12.4% of Premier’s total issued and outstanding shares. “Now our treasury is very strong, with $110 million to $120 million, and our market cap is $355 million,” he says. “For a Canadian company that is unheard of, and currently we have no debt, so we are in a good position to look at whatever opportunities may come up.” “I’d like to think with our growth profile this year and new mines coming online, that we should perform better and better as the year goes on,” Downie says. “Premier has one of the best growth profiles of any company period, be it big or small, and we’ve built a very solid team to manage these projects.” Outside the U.S., Premier owns Mercedes, an underground gold and silver mine in the state of Sonora in northern Mexico, and a 50% stake in the Greenstone gold project (also known as Hard Rock), 275 km northeast of Thunder Bay in northern Ontario’s Beardmore-Geraldton greenstone belt. In December, the federal government approved the environmental assessment for the project. The federal permit “is a major milestone” in the permitting process, Downie says. “We expect in the first half of this year that the provincial government will approve the EA,” he says, “which could make Hard Rock one of Canada’s next major gold mines.” At press time, Premier was trading at $1.75 per share in a 52-week trading range of $1.39 to $3.64 per share. CIBC has a 12- to 18-month price target on the company of $3 per share, and an “outperform” rating. TNM

2019-02-12 8:20 PM

UNITED STATES

GLOBAL MINING NEWS

UNITED STATES SNAPSHOT SNAPSHOT From 11 January “were challenging months on-site, with heavy snow and cold temperatures delaying some work.” Other activities to finish the process plant include electrical work, instrumentation installation and commissioning the gold refinery circuit. McEwen reported that exploration drilling last year extended the estimated mine life to 7.4 years, and adding the Gold Bar South resource to the mine plan should extend the mine life again by at least a year. Rob McEwen-led McEwen Mining already has three producing mines: its Black Fox gold complex in Ontario’s Timmins district, its mined-out, non-operating El Gallo gold-silver mine in Mexico (where residual leaching will produce gold for several more years) and its 49%-owned, San Jose gold-copper mine in southern Argentina. Development projects include the Fenix silver-gold project near the El Gallo mine, and the large, lowgrade Los Azules copper asset in Argentina’s San Juan province. NEVADA CLEAN MAGNESIUM Vancouver-based Nevada Clean Magnesium (TSXV: NVM; USOTC: MLYFF) says it is focused on “becoming a major U.S. producer and distributor of primary, highgrade, low-cost magnesium metal” extracted from its 100% owned Tami-Mosi property in north-central Nevada. Based on the company’s National Instrument 43-101-compliant preliminary economic assessment by Wardrop Engineering in 2011, the Tami-Mosi project has an inferred resource of 412 million tonnes grading 12.3% magnesium for a contained metal content of 111 billion lb. magnesium, using a 12% cut-off grade contained within a high-purity dolomite block. In December, Nevada Clean Magnesium announced that its technical team — under the guidance of engineer James Sever — produced a magnesium ingot from dolomite secured from the Tami-Mosi property. In January, the firm closed its non-brokered private placement for gross proceeds of $317,000, comprised of 6.35 million units at 5¢ per unit.

LITHIUM rquarisa@northernminer.com

merican Lithium (TSXV: LI; US-OTC: LIACF) is about to drill its 6.3 sq. km Tonopah lithium claystone (TLC) project near Tonopah, Nevada. Over the next six weeks the company will drill 1,600 metres across 10 to 20 holes. It will average 100-metre depths, drilling up to 160 metres below surface. The company had previously collected 22 grab samples at TLC that graded as high as 1,380 parts per million (ppm) lithium and averaged 656.5 ppm lithium. It has found lithium mineralization across 5 sq. km at TLC, and says it appears to extend in all directions. It intends to determine the thickness of those claystone beds with its forthcoming drill program. At the same time, American Lithium will continue lab work on leaching lithium from the project’s claystones. “You know when you go looking for a gold resource that’s a gram or half a gram ... that leaching technology works,” American Lithium director Andrew Bowering says in an interview with The Northern Miner. “There are proven technologies that work to leach gold out. “We don’t necessarily know that yet with lithium 100%. There are companies getting close, but nobody has actually produced a successfully operating lithium plant yet to leach lithium from claystones. “Ioneer [ASX: INR] is close, Lithium Americas [TSX: LAC; NYSE: LAC] thinks that Thacker Pass works, but until someone builds a mine and works all the bugs out of it and tweaks it to operate and generates a profit, you really don’t know.” The company recently ran hydrometallurgical tests on samples from TLC that show the company

THE PERFECT

GIFT

A drill rig at American Lithium’s FLV lithium project in Nevada. AMERICAN LITHIUM

can leach lithium from the project’s claystones with “increased extraction relative to immersion time.” The company leach-tested seven samples from TLC with a mixed concentrate extraction, starting with a one-hour agitation in purified water and progressing to six- and 24-hour agitations in up to 20% sulphuric acid solutions. The company says lithium extraction increased progressively. The company is still running extraction tests at both its TLC and FLV lithium projects, and expects to announce results in early 2019. “Comparative to it would be the 60s, with heap-leaching gold,” Bowering continues. “There was all this low-grade gold in Nevada that no one ever thought about or did anything with. Gold was only mined in high-grade situations. And then there was the advent of heap-leach technology, and the next thing you

know, you’re mining 1 gram gold. We think the same thing can happen with lithium.” After drilling its TLC project, the company will drill its 97 sq. km FLV lithium project. FLV is 2.6 km west of Ioneer’s Rhyolite Ridge lithium claystone project, which is undergoing a feasibility study. According to a 2018 prefeasibility study, Rhyolite could produce 20,200 tonnes lithium carbonate per year over 30 years. The project has a US$1.8-billion, after-tax net present value at a 7% discount rate and a 28% after-tax internal rate of return, with payback in four years. In late 2018, American Lithium ran 19 km of seismic surveys and gravity surveys, as well as delineation drilling and mapping at FLV that showed potential for claystone beds up to 200 metres thick. Early work American Lithium completed at FLV focused on the

west side of the property, close to Ioneer’s property. American Lithium has outcropping mineralization on that side of its property, but suspects the claystone beds there are relatively shallow. It also determined it doesn’t have a lot of room in that area to develop a resource. “The assumption,” Bowering says, “is that the same rocks that are on the west side of the valley are also on the east side, and so we did some seismic lines across the valley going east–west, and some prospecting and mapping on the east side. “What we have found is that the same package of rocks on the west side where Ioneer’s deposit is are also on the east side. We also think based on our seismic that there are thicker sequences on the east side.” The company as a result applied for modifications to its permits that would allow it to drill those eastern targets. In January 2019, the company added its first vanadium asset to its portfolio. The company will pay Nevada Alaska Mining US$100,000 and issue it 250,000 shares to earn a 100% interest in the Extinction Ridge vanadium project in Nevada, 30 miles north of Eureka and 55 miles south of Carlin. Assays from the vendor graded as high as 0.72% vanadium oxide, including a 30-metre trench at 0.46% vanadium oxide. The company acquired the project from the same vendor that sold it its lithium assets. “There’s a little bit of snow there now, but we’re hoping by April it’s gone, and then we’ll go and do a little bit of surface work ... some prospecting, surface mapping and some trenching,” Bowering says. Shares of American Lithium are trading at 35¢ in a 52-week range of 22¢ to 74¢. The company has a $21-million market capitalization. TNM

The Art and Humour of John Kilburn Cartoons from A hilarious, 262-page anthology of mining cartoons by The Northern Miner’s resident cartoonist John Kilburn. Unique in its scope and ambitions, this anthology gathers the best Northern Miner cartoons created over 25 years by John Kilburn, a Vancouver-based mining professional who has worked in Western Canada as a mining engineer, broker, journalist, equity analyst and investor. Kilburn stylishly captures the mining sector’s biggest events over the past quarter century as well as its perennial conundrums with a cast of characters that includes engineers, geologists, miners, promoters, executives and environmentalists. Joining the cast are coal mine canaries, camp dogs and llamas, plus a special appearance by Santa.

The company’s chief asset is its Clayton Valley BFF-1 lithium property, located 250 metres from Albemarle’s Silver Peak lithium mine and brine processing operations.

1-16_FEB18_Main .indd 15

| Junior continues leaching lab work at TLC project

BY RICHARD QUARISA

Rick Wilson-led Nevada Energy Metals (TSXV: BFF; US-OTC: SSMLF) is a Vancouver-based junior on the hunt for brine lithium projects in Nevada.

In January, the junior closed a financing that raised a gross $324,000. TNM

American Lithium drilling Nevada claystones

NEVADA ENERGY METALS

Nevada Energy Metals says the broader Clayton Valley’s central location in Nevada and its highways, access to power, water and labour provide excellent infrastructure for mineral exploration and development.

THE NORTHERN MINER / FEBRUARY 18–MARCH 3, 2019

With a foreword by Pierre Lassonde, cofounder and chairman of Franco-Nevada, an introduction by John Cumming, editor-in-chief of The Northern Miner, and hundreds of boisterous JK mining cartoons like you’ve never seen them before. Specifications: 7.8” by 10”, 262 pages, B&W with a colour cover, ISBN 978-1-987932-00-3 C$34.99 plus shipping and applicable taxes.

$34.

To order by phone, call toll-free: 1-888-502-3456 ext. 43702 For more information and to order online visit: www.northernminer.com/jk

2019-02-12 8:20 PM

FEBRUARY 18–MARCH 3, 2019 / THE NORTHERN MINER

UNITED STATES

WWW.NORTHERNMINER.COM

Trilogy Metals president and CEO Rick Van Nieuwenhuyse (third from left) with a South32 technical crew at the Upper Kubuk copper property in Alaska. TRILOGY METALS

Trilogy Metals is cashed up and ready to go in Alaska COPPER

BY TRISH SAYWELL

tsaywell@northernminer.com

outh32 (LON: S32) has the next 11 months to decide whether it wants to write a US$150-million cheque for a 50% stake in Trilogy Metals’ (TSX: TMQ; NYSE-AM: TMQ) two base metal deposits in Alaska — Arctic and Bornite. To keep that option, the mining and metals giant has been required since 2017 to spend US$10 million a year on exploration at Bornite, which has an inferred resource of 5.45 billion lb. copper contained within 141.9 million tonnes grading 1.74% copper, and another 77 million lb. cobalt contained within 182.4 million tonnes grading 0.019% cobalt. Bornite is just 25 km southwest of Trilogy’s Arctic deposit, the highestgrade, open-pit volcanogenic massive sulphide (VMS) in the world, where a prefeasibility study in early 2018 envisioned annual production of 159 million lb. copper, 199 million lb. zinc, 33 million lb. lead, 3.3 million oz. silver and 30,600 oz. gold over a 12-year mine life. Most of the mineralization at Arctic is within an area of 1 sq. km extending 250 metres below surface. The two deposits — together called the Upper Kobuk projects — are in the state’s Ambler mining district, 322 km east of Teck Resources’ Red Dog mine, the largest zinc mine in the world. Rick Van Nieuwenhuyse, Trilogy’s president and CEO, is confident that South32 will exercise the option and pour another US$150 million into the company’s coffers. “If you look around the world for copper, there are not a lot of quality projects out there, apart from the Congo and what Mr. Friedland and the Ivanhoe team have been finding there, which is nothing less than spectacular,” he says. “But outside of that, it’s a pretty thin field of potential development projects, most of which are dominated by low-grade porphyries.”

1-16_FEB18_Main .indd 16

| Deadline approaching for South32’s option to buy 50% of junior for $150M “I kind of chuckle when I see project drill intercepts described as ‘high-grade,’ when they’re not even a percent,” he adds. “What we have is unique. Arctic is a 5% copper-equivalent, open-pittable, copper project — I haven’t seen anything else like it in the world.” While there are certainly other massive sulphide deposits, he concedes, they’re all underground and their geometries are such that they would be relatively small-scale, while the Arctic deposit’s open pit will push 10,000 tonnes per day “very comfortably.” Not only that, he says, “we know there are lots of VMS deposits in the Ambler mining district,” and the company has set aside a $2-million budget dedicated to exploring the district using geophysical methods. “There are over half a dozen other historic resources that are fairly significant in the district, so we’ll spend some time this summer investigating those,” he says. “They don’t meet 43-101 standards, but they were done by companies like Cominco, Noranda, Kennecott, Anaconda and Sunshine Metals … we have 30 known prospects … it’s low-hanging fruit that could add years on the mine life.” Meanwhile, Bornite “is shaping up to be quite a good deposit in its own right,” he says. “It’s 1% openpittable and 3% underground, both very respectable grades in copper, and we haven’t found the edges yet, so we’ll do more drilling to expand and infill our confidence in the resource.” The company expects to complete a resource update on Bornite before the end of February, along with a metallurgical report on recoveries for both copper and cobalt. While the cobalt grades are very low and would represent only a small percentage of the overall value, perhaps 2–3%, he says, most of it is associated with pyrite, so the company is doing metallurgy work to see how much it can be upgraded

“I KIND OF CHUCKLE WHEN I SEE PROJECT DRILL INTERCEPTS DESCRIBED AS ‘HIGHGRADE,’ WHEN THEY’RE NOT EVEN A PERCENT. WHAT WE HAVE IS UNIQUE. ARCTIC IS A 5% COPPER-EQUIVALENT, OPEN-PITTABLE, COPPER PROJECT — I HAVEN’T SEEN ANYTHING ELSE LIKE IT IN THE WORLD.” RICK VAN NIEUWENHUYSE PRESIDENT AND CEO, TRILOGY METALS

with a simple flotation separation. Looking ahead, Trilogy expects to complete a feasibility study in the first quarter of 2020. The prefeasibility study estimated initial capex of US$780 million and total capital costs of US$910 million, with a payback of just two years. The post-tax, net present value at an 8% discount rate was estimated at US$1.4 billion, and the post-tax internal rate of return, 33%. The deposit has indicated resources of 36 million tonnes grading 3.07% copper, 4.23% zinc, 0.73% lead, 47.6 grams silver per tonne and 0.63 gram gold per tonne for 2.4 billion lb. copper, 3.4 billion lb. zinc, 581 million lb. lead, 55 million oz. silver and 730,000 oz. gold. Inferred resources add 3.5 million tonnes grading 1.71% copper, 2.72% zinc, 0.60% lead, 28.7 grams silver and 0.36 gram gold for 131 million lb. copper, 201 million lb. zinc, 47 million lb. lead, 3 million oz. silver and 40,000 oz. gold. Together, Arctic and Bornite offer 8 billion lb. copper and 3 billion lb. zinc over 1 million oz. goldequivalent, and 77 million lb. cobalt. Trilogy intends to obtain its main permits for Arctic later this year or early next year, but doesn’t anticipate problems. “Alaska in general is a pro-resource development state,” he says. “It’s all about oil and gas, fishing, mining and tourism — that’s what

we do here, and in terms of revenue, mining is the second most important to the state.” He also notes that a Republican, Mike Dunleavy, was elected governor in the 2018 mid-term elections, and is an advocate of the Upper Kobuk mineral projects. The former basketball coach and school teacher is married to a woman from the local community in the region, and all of their three children have worked at the Red Dog mine. “He has one daughter that continues to work at Red Dog, she’s a mining engineer, so probably more than any other governor, at least recently, he really understands mining.” In addition, the Alaska Industrial Development & Export Authority (AIDEA) is far along the permitting process for a 322 km road connecting the Ambler mining district to year-round shipping from four ice-free ports (Anchorage, Mackenzie, Seward and Whittier.) A scoping study for the road was completed one in January 2018 and Trilogy expects a draft environmental impact assessment on the project in April, and a final environmental impact statement in December 2019. AIDEA plans to finance the road with low-interest bonds and a 30year payback period through tolls — similar to the road that links the Red Dog mine to the port. “The road unlocks the whole

potential of the district,” Van Nieuwenhuyse says. Concentrate will be trucked down to Fairbanks, where it can tag into existing infrastructure, which includes the Alaska Railroad, and then travel down to the port of Anchorage. While South32 has 11 more months to make its mind up about the Upper Kobuk, it can do so at any time, Van Nieuwenhuyse says. And the miner has signalled that it’s willing to pull the trigger on new acquisitions after buying Arizona Mining last June for US$1.3 billion. “The significance of the Arizona Mining deal is that it tells us they like North America as a place to invest, they like base metals and they don’t have a copper asset,” he says. “Right now I think we’re their only investment in the copper space, and they have made it clear in their presentations that they like copper — and for a very good reason.” Moreover, he says, if you look at South32’s operating income, it generates US$1.5 billion in free cash flow a year. “They’re not a small company. Graham Kerr, their president and CEO, has said they will dividend out that, they’ll spend one-third on existing brownfields, and then they have half a billion dollars left in their piggybank to look at new opportunities, so in the context of their US$150-million decision that’s coming up on Upper Kobuk, it puts that into perspective.” This year the company has US$20 million in cash and another US$9.2 million from South32. Trilogy also has 6.5 million warrants held by large shareholders that expire this July, which at a $1.52 exercise price would generate another US$10 million. The company is debt-free. Key shareholders include Electrum Group (20.3%); South32 (12.5%); Baupost Group (9.9%); Paulson & Co. (8.8%); Selz Capital (7.9%); and Millennium (4.1%). TNM

2019-02-12 8:20 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 18–MARCH 3, 2019

PROFESSIONAL DIRECTORY Trusted Advisors to the Global Mineral Resource Industry

ASSAYERS

INSTRUMENTATION Highest Precision Magnetometers in the World

C.F. Mineral Research Ltd.

Providing Robust Providing RobustHigh HighPrecision PrecisionPotassium, Potassium,Overhauser Overhauser and andProton ProtonMagnetometers Magnetometers with with New add-on oror stand New add-on standalone aloneVLF VLFfor forresistivity resistivitydepth depthsections sections

INDEPENDENT SPECIALISTS IN HEAVY MINERAL GEOCHEMISTRY

Diamond Indicator Heavy Minerals Extraction Precious and Base Metals Extraction • Electron Microprobe Precision Analyses • Diamond Indicator and Mineral Classification • Microdiamond Recovery and Characterisation • High Quality / Low Cost / Quick Turnaround

1677 Powick Road Kelowna, B.C. Canada V1X 4L1

• •

TEL: 250-860-8525 FAX: 250-862-9435

— SERVING THE EXPLORATION SECTOR WORLDWIDE SINCE 1977 —

CONSULTING

Develop

Improve

Call (416) 364-6244

wgm.ca

Geological and Mining Consultants I Since 1962

GEOPHYSICS

Worldwide 3D Pulse-EM TDEM, 3D E-SCAN IP/Resistivity Surveys Transform

amcconsultants.com

GEOLOGY, MINING ENGINEERING, GEOTECHNICAL CONSULTING SERVICES

www.cronegeophysics.com

(905) 814-0100

3D Pulse-EM (Time-Domain EM) Borehole and Surface Surveys Coil, Fluxgate or SQUID Sensors High Power, Low noise Step Response

3D E-SCAN (IP/DC Res) Mapping Recon3D , Target3D , HiRes3D Any Topography, any Scale Immediate QC, daily Results Deep, Efficient, Safe R

UAV - Airborne - Ground Solutions

Leading the World of Magnetics

Call for a Quote today since 1980 www.gemsystems.ca • info@gemsystems.ca • Tel: +1.905.752.2202 • +1.888.635.1829

Rentals and Sales Sales and Rentals: of instruments for:

Crone Geophysics

1,800+ CLIENTS 8,000+ PROJECTS 30+ YEARS EXPERIENCE Evaluate

Since 1962

Geological and Mining Consultants

Magnetometers/VLF Magnetics/VLF Gamma-Ray Spectrometers IP, Radiation Infrared Spectrometers TERRAPLUS INC. Advisors to the Resistivity TDEM and HLEM Trusted 52 W. Beaver Creek Rd., Unit 12 (Multi-electrodes) Resistivity (ERT) Global Mineral Resource Industry Richmond Hill, Ontario Susceptibility Full Wave Form IP L4B 1L9 (Canada) Conductivity Borehole Gyro GPR/ GPS Borehole Logging Tel: (905) 764-5505 Gravity Magnetic Susceptibility Fax: (905) 764-8093 Seismics Conductivity e-mail: sales@terraplus.ca Website: www.terraplus.ca Borehole Logging GPR Seismic

Caracle Creek

CCIC

LEGAL

GEOLOGICAL & GEOPHYSICAL CONSULTANTS

Project Design & Management 3D Compilations and Modelling Independent Reporting (NI43-101) Resource Estimation www.caraclecreek.com QA/QC Programs Sudbury, Canada Due Diligence Tel: +1-705-671-1801 Property Valuations/Evaluations

Geophysical Survey Design and Interpretation • Borehole Resistivity/ IP Tomography • Surface IP/Resistivity • Airborne EM-Mag

litigate

CONTRACTUAL & MINING DISPUTES CONSTRUCTION DISPUTES PRODUCT LIABILITY DISPUTES INQUESTS: OCCUPATIONAL/SAFETY DEFENCE

Email: canada@caraclecreek.com

Excellence in Commercial Litigation and Competition Law agmlawyers.com • thelitigator.ca

Competent Persons / NI 43-101 Technical Reports; Mineral Resource Estimates; Due Diligence Independent Engineer Services; Geology, Mine Planning, Metallurgy, Environmental; Economic Evaluation and Feasibility Studies; Expert Witness and Mineral Property Valuation

Affleck Greene McMurtry LLP 365 Bay Street, Suite 200, Toronto Canada M5H 2V1 T 416.360.2800

MARKETING

www.micon-international.com Toronto

Vancouver

Norwich

Cornwall

LEADING NEWS STRATEGIC PLANS. PR. GLOBAL MARKETS. State-of-the-art. Professional. Experienced* G&M, BBC, WSJ, NYT, CNBC, NM. MW

International Exploration & Mining Consultants

Don@leadingnews.ca

Project generation, design, management Independent reporting|Geophysics|GIS

www.mphconsulting.com +1.416.365.0930

•

1-416-434-3681

•

www.leadingnews.ca

SURVEYORS & CORE SYSTEMS

Toronto Denver London Quebec City Vancouver

JEAN-LUC CORRIVEAU, Q.L.S., CLS LAND & MINING SURVEYORS – 3D SCANNING

GYRO (Shaft plumbing), underground control, photogrammetric mapping (Airborne Lidar & photos by drone), borehole & bathymetric surveys Scanning of flooded cavities by sonar • Surface and underground inspections by drone

Geological and Mining Consultants www.rpacan.com

1085, 3rd Avenue West, Val-d’Or (Quebec) J9P 1T5 • Tel: (819) 825-3702 Fax: (819) 825-2863 • E-mail: bureau@corriveaujl.com • www.corriveaujl.com

+1 (416) 947-0907

To reserve space for your advertisement in the Professional Directory, please contact: Joe Crofts: 416-510-6816 Toll free North America: 1-888-502-3456 (ext. 43729) jcrofts@northernminer.com Fax: 416-447-7658

Published by:

MAKE SENSE OF THE MINING INDUSTRY Mining Explained is a 164-page reference manual (written in layman’s language) that includes the following chapters: Basic Geology • Ore Deposits • High-Tech Prospecting Sampling & Drilling • Mining Methods • Processing Ore • Mining & the Environment • The Mining Team • The Business of Mining • Feasibility: Does it Pay? • Metal Markets • Making Sense of the Numbers • Investing in Mining • Glossary of Mining Terms

Now Available in Spanish

17_FEB18_ProDirectory .indd 17

Order Your Copy Today!

Call 1-888-502-3456 or email info@northernminer.com

2019-02-07 12:54 PM

WWW.NORTHERNMINER.COM

FEBRUARY 18–MARCH 3, 2019 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / FEBRUARY 4–8 Canada’s benchmark index rose 1% to end the trading week at 15,663.33. The S&P/TSX Global Mining Index rose 0.65% to 71.90, and the S&P/TSX Global Gold Index rose 1.3% to 192.46. The gold price fell 0.2% to US$1,314. Shares of RNC Minerals rose 20% to 72¢. The company recently announced results from 46 underground holes totalling more than 5,700 metres drilled at its Beta Hunt mine in Australia. The company infill-drilled the mine’s A Zone and Western Flanks, and tested sedimentary layers for gold mineralization similar to its Father’s Day vein discovery in 2018. At its Western Flanks shear zone, the company intersected 1,017.3 grams gold per tonne over 2 metres, including 7,621 grams gold over 0.27 metre within 45 metres of its underground development. The company says this is the highest-grade gold reported since 2017, and could mean that the new sedimentary layer holds multiple gold discoveries. Highlights from the A Zone include 119.37 grams gold over 6 metres, including 1,406 grams gold over 0.5 metre, as well as 3.73 grams gold over 12 metres. The company is waiting for results from another 37 holes totalling nearly 4,200 metres. The company intends to finish a 40,000-metre program designed to infill and extend both the A Zone and Western Flanks.

Shares of Wallbridge Mining rose 19.5% to 25¢, after the company announced it had recovered and sold more than 13,300 oz. gold from a 35,000-tonne bulk sample it took at its 100%-owned Fenelon gold property in Quebec. The company has processed 25,000 tonnes of mineralized material so far at an average grade of 17.43 grams gold to produce 14,000 oz. gold. It expects to process all 35,000 tonnes at 19 to 22 grams gold per tonne, and produce 21,000 to 24,000 oz. gold. The company has dewatered Fenelon and rehabilitated its infrastructure. It began ramp development in June 2018 and stope production in August 2018. It finished building the ramp in January 2019, and says it is mining its final stopes. It intends to drill 50,000 to 75,000 metres at Fenelon targeting underTSX MOST ACTIVE ISSUES

Barrick Gold Royal Nickel Suncor Energy First Quantum Kinross Gold Yamana Gold B2Gold Corp Goldcorp Nemaska Lith Lundin Mng

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

ABX RNX SU FM K YRI BTO G NMX LUN

24588 18.22 17.08 18.07 + 0.74 21162 0.75 0.59 0.72 + 0.12 19196 44.10 42.20 42.81 + 0.44 15548 14.97 13.54 13.72 - 1.10 14650 4.57 4.35 4.52 + 0.13 13961 3.75 3.55 3.68 - 0.01 12371 4.15 3.95 4.11 - 0.01 11485 14.83 14.24 14.65 + 0.23 10517 0.63 0.56 0.58 - 0.04 10427 6.33 5.89 6.00 + 0.06

ground resource expansion in 2019, while advancing permits. It recently lowered its debt to US$3 million. Wallbridge acquired Fenelon in 2016 and tabled a prefeasibility study for the project in 2017. Shares of First Quantum Minera ls slipped $1.10 to $13.72 after the miner signed a $2.7-billion term loan and revolving credit facility to replace its $1.5-billion revolving credit facility. The new

facilit y comprises a $1.5-billion term loan facility and a $1.2-billion revolving credit facilit y. The company recent ly resumed copper production at its Cobre las Cruces plant in southwestern Spain after a land slippage at the operation in January 2019 forced management to shut down the open pit and hydrometallurgical complex. No one was injured during the slippage. TNM

TSX GREATEST PERCENTAGE CHANGE

Black Iron Nthn Dynasty Royal Nickel Yorbeau Res Wallbridge Mng Horizonte Mnls Sprott Res Hld Ivanhoe Mines GoldMining Maya Gold &Sil Xanadu Mines Condor Gold Silver Bear Rs Loncor Res Goldgroup Mng NorZinc Euro Sun Mg Century Global INV Metals Prophecy Coal

BKI NDM RNX YRB WM HZM SRHI IVN GOLD MYA XAM COG SBR LN GGA NZC ESM CNT INV PCY

5666 2273 21162 632 5841 3113 214 7150 1747 120 199 42 1099 57 69 405 979 34 316 2159

0.09 1.47 0.75 0.03 0.25 0.05 1.20 3.40 1.09 2.40 0.14 0.69 0.19 0.08 0.06 0.10 0.33 0.20 0.73 0.25

0.06 1.05 0.59 0.03 0.21 0.00 1.03 2.73 0.91 2.10 0.11 0.52 0.13 0.00 0.05 0.08 0.28 0.17 0.62 0.20

0.09 1.29 0.72 0.03 0.25 0.04 1.20 3.15 1.06 2.15 0.11 0.54 0.14 0.07 0.05 0.08 0.28 0.17 0.63 0.21

TSX GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Labrador Iron Kirkland Lake Nutrien North Am Pall Agnico Eagle Nexa Resources Barrick Gold Altius Mnrls Wheaton Prec M Cameco Corp Aura Minerals First Quantum Endeavour Mng Franco-Nevada TMAC Resources Caledonia Mng OceanaGold IAMGOLD Wesdome Gold Atalaya Mining

+ 38.5 + 22.9 + 20.0 + 20.0 + 19.5 + 14.3 + 14.3 + 14.1 + 14.0 + 13.2 - 22.2 - 21.7 - 20.6 - 18.8 - 16.7 - 15.8 - 15.4 - 15.0 - 14.9 - 14.3

VOLUME WEEK (000s) CLOSE CHANGE

LIF KL NTR PDL AEM NEXA ABX ALS WPM CCO ORA FM EDV FNV TMR CAL OGC IMG WDO AYM

1477 32.78 3710 44.23 5290 69.84 137 14.88 2523 57.48 7 12.19 24588 18.07 356 12.09 3883 28.31 5841 16.39 124 18.86 15548 13.72 1147 21.57 1734 99.98 188 6.33 14 7.42 8701 4.20 7629 4.63 2045 4.87 1 3.82

+ 2.67 + 1.98 + 1.54 + 1.31 + 0.86 + 0.78 + 0.74 + 0.74 + 0.71 + 0.57 - 1.45 - 1.10 - 0.69 - 0.58 - 0.48 - 0.48 - 0.45 - 0.27 - 0.23 - 0.21

TSX VENTURE EXCHANGE / FEBRUARY 4–8 The TSX/S&P Venture Composite Index slipped 1.7% to end the trading week at 611.94. Shares of Max Resource rose 111% to 38¢. The company recently expanded the zone through surface work at its 1,757 sq. km Choco precious metals project, 100 km southwest of Medellin, Colombia. The company found a gold-bearing conglomerate (called “Outcrop 2”) 7.5 km south of known mineralization. The company has dug six small trial pits into the property and sampled two mineralization outcrops over a 36 sq. km area. It is processing between 25 and 50 kilograms of random samples from the pits to test for free gold. A similar amount of chip samples from the outcrops will see processing, as well. The company says it observed free gold in the first sample from each of its first five trial pits, and adds that bulk sampling Choco’s surface is the most practical method to determine grade and lateral extent of the project’s mineralized system. It says the central part of its system could be 12 metres thick. The company’s Choco district produced 1.5 million oz. gold and 1 million oz. platinum between 1906 and 1990, at depths generally less than 8 metres below surface. Shares of Bonterra Resources fell 38¢ to $2.19, on news that the company’s CEO Nav Dhaliwal and vice-president of exploration

Dale Ginn were resigning from their roles and as directors. Bonterra chairman Greg Gibson will act as interim CEO. He noted in a prepared statement that Dhaliwal and Ginn would remain consultants to Bonterra. The company is exploring extensions of its Gladiator gold deposit in Quebec near its UrbanBarry mill. The company plans to table an updated resource estimate for all its Quebec projects soon. To focus on exploration, the company has put all mining operations on care and maintenance. Shares of Redzone Resources spiked 60% to 16¢, after the company announced initial due diligence float sample results from its newly optioned West Leinster lithium property in the Republic of Ireland. The company found two spodumene-bearing pegmatite occurrences TSX-V MOST ACTIVE ISSUES

MAX Res Gratomic Vendetta Mng Sokoman Iron Tango Mining IDM Mining Leeta Gold Adventus Power Group orraine Coppr

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

MXR 43351 GRAT 16365 VTT 8489 SIC 7819 TGV 6564 IDM 5862 HIVE 4835 ADZN 4715 PGP 4655 LLC 4526

0.40 0.12 0.15 0.14 0.02 0.07 0.42 0.98 0.17 0.22

0.19 0.08 0.12 0.11 0.02 0.06 0.34 0.76 0.02 0.15

0.38 + 0.20 0.09 - 0.03 0.14 + 0.02 0.13 - 0.01 0.02 unch 0.00 0.06 unch 0.00 0.42 + 0.04 0.95 + 0.22 0.13 - 0.13 0.21 + 0.04

at its property grading 1.78% lithium oxide and 0.99% lithium oxide in flat boulders. The exploration team also mapped anomalous, lithium-bearing alpite and pegmatites with beryl, apatite and orange garnets. It says its lithium mineralized samples travelled less than 500 metres from their source. The company collected 70 samples at West Leinster and confirmed lithium mineralization

at its Aghavannagh target and its Tonygarrow target, with samples grading 1.78% lithium oxide and 0.99% lithium oxide. Due diligence continues for soil geochemistry lines at Aghavannagh. The company can earn up to a 90% interest in the property, with cash payments and $4.5 million in exploration, and a preliminary economic assessment on the project within five years. TNM

TSX-V GREATEST PERCENTAGE CHANGE

BE Res MAX Res Giyani Gold TVI Pacific Margaux Res Manitou Gold TNR Gold Canada Coal Redzone Res Waseco Res Western Pac Rs Power Group Baroyeca Gold Barker Min Wescan Gldflds Aloro Mining Westminster Rs Noram Vent Fengro Industr Green Valley M

BER.H MXR WDG TVI MRL MTU TNR CCK.H REZ WRI WRP PGP BGS BML WGF AORO WMR NRM FGR SCT

264 43351 3698 687 141 3259 642 64 127 521 49 4655 450 222 131 1017 581 1621 552 110

0.07 0.40 0.26 0.01 0.15 0.07 0.05 0.04 0.16 0.04 0.58 0.17 0.02 0.01 0.04 0.20 0.09 0.25 0.04 0.10

0.00 0.19 0.12 0.00 0.07 0.04 0.03 0.03 0.10 0.03 0.00 0.02 0.01 0.01 0.00 0.09 0.05 0.15 0.03 0.05

0.07 0.38 0.25 0.01 0.15 0.06 0.05 0.04 0.16 0.04 0.32 0.13 0.01 0.01 0.03 0.10 0.05 0.16 0.03 0.05

TSX-V GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

+ 160.0 + 111.1 + 108.3 + 100.0 + 100.0 + 71.4 + 66.7 + 60.0 + 60.0 + 60.0 - 52.9 - 50.0 - 50.0 - 50.0 - 45.5 - 44.4 - 44.4 - 38.0 - 37.5 - 35.7

VOLUME WEEK (000s) CLOSE CHANGE

Great Bear Res Abitibi Royal Gold Reserve McChip Res Aurion Res Adventus Regulus Res MAX Res Armor Min Atlantic Gold BonTerra Res Western Pac Rs Millennial Lit Aurania Res Standard Lith Hut 8 Mining Garibaldi Res Canadian Prem Novo Res Cobalt 27 Cap

GBR RZZ GRZ MCS AU ADZN REG MXR A AGB BTR WRP ML ARU SLL HUT GGI CPS NVO KBLT

1569 3.68 30 12.04 16 3.44 20 0.93 1051 1.23 4715 0.95 229 1.70 43351 0.38 9 0.59 756 1.92 542 2.19 49 0.32 129 1.53 72 2.78 638 1.16 65 1.40 545 1.00 22 1.35 416 2.33 732 4.18

+ 0.90 + 0.77 + 0.39 + 0.29 + 0.25 + 0.22 + 0.22 + 0.20 + 0.18 + 0.17 - 0.38 - 0.36 - 0.29 - 0.20 - 0.19 - 0.17 - 0.16 - 0.15 - 0.15 - 0.13

U.S. MARKETS / FEBRUARY 4–8 The Dow Jones Industrial Average posted a marginal 0.17% gain to 25,106.33, while the S&P 500 Index ended 0.05% higher at 2,707.88. Despite a rising dollar, spot gold held above the US$1,300 per oz. mark, finishing at US$1,314 per oz., down 0.24%, or US$3.10 per oz. from the previous week. The unfolding tailings dam disaster at Vale’s Feijao iron ore mine in southeastern Brazil kept pressure on the company’s shares, which were the most heavily traded, and finished at US$11.39 — down US$1.18, or 9.4%. The company has identified 160 bodies to date and 155 people are still missing after the dam ruptured on Jan. 25. Cleveland Cliffs rose US$1.30, or 12.3%, to US$11.83 per share. The company — a major supplier of iron ore pellets to the North American steel industry, with mines and pellet plants in Michigan and Minnesota — reported consolidated revenues of US$2.3 billion in 2018, up from US$1.9 billion in 2017. Net income surged to US$1.1 billion, compared to US$363 million in 2017. For the year, adjusted earnings before interest, tax, depreciation and amortization (EBITDA) came in at US$766 million, in a 67% net increase from 2017’s

18_FEB18_MarketNews.indd 18

US$460 million. Shares of Peruvian precious metals miner Buenaventura rose US55¢ to US$16.25 per share. The company recently resumed operations at its Uchucchacua mine after a 21-day strike, and has restarted operations at its Orcopampa mine after a de-bottlenecking exercise, and improvements to the mine’s ventilation system. Franco-Nevada’s shares fell US$1.44 to US$75.42. The company announced that it expects gold and gold-equivalent production for 2018 within its previous guidance range, with gold-equivalent ounces expected between U.S. MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Vale* VALE 278841 12.21 10.89 11.39 - 1.18 Freeport McMoR* FCX 106803 12.14 11.40 11.61 + 0.10 Cleveland-Clif* CLF 94451 12.26 10.41 11.83 + 1.30 Barrick Gold * GOLD 60748 13.73 13.02 13.62 + 0.37 Yamana Gold* AUY 59716 2.85 2.67 2.77 - 0.05 United States S* X 54730 23.49 21.51 21.95 - 0.09 Kinross Gold* KGC 52176 3.47 3.29 3.40 + 0.03 Goldcorp* GG 34084 11.20 10.85 11.05 + 0.01 Chevron Corp* CVX 32796 119.86 115.92 117.58 - 0.79 Sibanye-Stillw* SBGL 30818 4.36 3.59 4.30 + 0.62

445,000 and 450,000. Oil and gas revenues would be between US$85 million and US$88 million, surpassing the previous guidance range of US$75 million and US$85 million. Peabody Energy’s shares fell US$6.04, or 16.9%, to US$29.73. The company reported

2018 income from continuing operations, net of income taxes, totalled US$645.7 million, and net income attributable to common stockholders totalled US$544.4 million, with adjusted EBITDA of US$1.38 billion. TNM

U.S. GREATEST PERCENTAGE CHANGE

U.S. GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Sibanye-Stillw* SBGL Cloud Peak En* CLD Cleveland-Clif* CLF Nexa Resources* NEXA Harmony Gold* HMY Black Hills* BKH Buenaventura* BVN Kirkland Lake* KL Barrick Gold * GOLD NC NACCO Ind* Peabody Enrgy* BTU CONSOL Energy* CNX Gold Fields* GFI Vale* VALE Arch Coal* ARCH CONSOL Coal Rs* CCR IAMGOLD* IAG AngloGold Ash* AU Mechel* MTL Lithium Amer* LAC

30818 4.36 3.59 4.30 + 16.8 29473 0.47 0.36 0.43 + 14.4 94451 12.26 10.41 11.83 + 12.3 1223 9.84 8.58 9.20 + 5.5 20126 2.20 1.94 2.14 + 4.9 2102 70.25 65.96 69.43 + 3.5 7072 16.53 15.42 16.25 + 3.5 4640 33.55 31.59 33.38 + 3.3 60748 13.73 13.02 13.62 + 2.8 28 36.31 34.79 34.95 + 1.9 6839 37.37 29.40 29.73 - 16.9 27747 11.27 9.73 9.78 - 12.4 25400 3.93 3.53 3.62 - 9.5 278841 12.21 10.89 11.39 - 9.4 1726 89.59 81.43 81.64 - 7.5 271 19.47 17.22 17.38 - 7.0 19739 3.77 3.45 3.49 - 6.9 13602 13.87 13.10 13.50 - 5.6 434 2.45 2.20 2.26 - 5.0 370 3.23 3.02 3.06 - 5.0

Black Hills* BKH Cleveland-Clif* CLF Kirkland Lake* KL NACCO Ind* NC Sibanye-Stillw* SBGL Buenaventura* BVN MartinMarietta* MLM Nexa Resources* NEXA Nutrien* NTR Barrick Gold * GOLD Arch Coal* ARCH Peabody Enrgy* BTU CONSOL Energy* CEIX Franco-Nevada* FNV Mosaic* MOS CONSOL Energy* CNX CONSOL Coal Rs* CCR Vale* VALE Alcoa* AA Southern Copp* SCCO

VOLUME WEEK (000s) CLOSE CHANGE

2102 69.43 94451 11.83 4640 33.38 28 34.95 30818 4.30 7072 16.25 3607 184.34 1223 9.20 10070 52.66 60748 13.62 1726 81.64 6839 29.73 1058 33.23 2064 75.42 19202 31.19 27747 9.78 271 17.38 278841 11.39 17751 27.65 5129 32.54

+ 2.35 + 1.30 + 1.07 + 0.66 + 0.62 + 0.55 + 0.53 + 0.48 + 0.45 + 0.37 - 6.58 - 6.04 - 1.62 - 1.44 - 1.41 - 1.38 - 1.31 - 1.18 - 0.95 - 0.93

2019-02-12 6:21 PM

GLOBAL MINING NEWS · SINCE 1915

THE NORTHERN MINER / FEBRUARY 18–MARCH 3, 2019

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 TSX WARRANTS

PRODUCER AND DEALER PRICES

SPOT PRICES COURTESY OF SCOTIABANK Tuesday, February 12, 2019 Precious Metals Price (US$/oz.) Change Gold $1306.75 -4.25 Silver $15.74 -0.04 Platinum $791.00 -28.00 Palladium $1388.00 +33.00 Base Metals Price (US$/tonne) Change Nickel $12490.00 0.00 Copper $6113.00 -37.00 Lead $2042.00 -2.00 Zinc $2638.00 -5.00

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Februaty 8, 2019 (change from February 1, 2019 in brackets): Aluminium Alloy 9360 (-120) Aluminium 1296800 (+12675) Copper 149200 (-750) Lead 67125 (-5325) Nickel 200490 (-1212) Tin 1735 (-110) Zinc 109925 (-3275)

Thermal Coal CAPP: US$40.00 per short ton Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$73.20 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$12.15 Cobalt: US$14.52/lb. Copper: US$2.79/lb. Copper: CME Group Futures March 2019: US$2.77/lb.; April: 2019: US$2.78/lb Iridium: NY Dealer Mid-mkt US$1,460.00/tr oz. Iron Ore 62% Fe CFR China-S: N.A. Lead: US$0.93/lb. Molybdenum Oxide: US$11.79/lb. Phosphate Rock: US$86.00/tonne Potash: US$226.00/tonne Rhodium: Mid-mkt US$2,600.00 tr. oz. Ruthenium: Mid-mkt US$266.00/tr. oz. Silver: Handy & Harman Base: US$14.54 per oz.; Handy & Harman Fabricated: US$18.17 per oz. Spodumene min 7-7.5% Li20, CIF China, US$900-1000 per tonne. Tantalite Ore : US$186.50/kg Tin: US$9.57/lb. Uranium: U3O8, Trade Tech spot price: US$28.90 per lb U308 Zinc: US$1.20/lb. Prices current Feb. 12, 2019

NORTH AMERICAN STOCK EXCHANGE INDICES

52-week

Index Feb 8 Feb 7 Feb 6 Feb 5 Feb 4 High Low 15712.31 15702.69 15602.32 15527.30 12400.15 S&P/TSX Composite 15633.33 15703.36 S&P/TSXV Composite 611.94 614.88 620.52 620.63 625.26 1050.26 883.52 932.98 937.61 938.07 937.82 932.02 896.74 709.99 S&P/TSX 60 S&P/TSX Global Gold 192.46 189.93 190.11 191.06 189.98 218.90 149.29 DJ Precious Metals 159.81 159.81 160.77 162.59 161.67 420.72 130.95

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of Jan 31, 2019 (with changes from Jan 15, 2019) Largest short positions Sandstorm Gold SSL 16232259 -147534 1/15/2019 Barrick Gold ABX 14878929 2121219 1/15/2019 Kinross Gold K 13914096 -198941 1/15/2019 Suncor Energy SU 13156916 993326 1/15/2019 Ivanhoe Mines IVN 12805865 395815 1/15/2019 Turquoise HIl TRQ 10585447 -649656 1/15/2019 First Quantum FM 10307593 1655383 1/15/2019 New Gold NGD 9149905 -445519 1/15/2019 Goldcorp G 8848384 -2638552 1/15/2019 Nemaska Lith NMX 8104838 -764104 1/15/2019 OceanaGold OGC 7774149 -51002 1/15/2019 First Majestic FR 7631297 587303 1/15/2019 Yamana Gold YRI 7621635 948014 1/15/2019 Copper Mtn Mng CMMC 7291023 -476015 1/15/2019 McEwen Mng MUX 7044136 926156 1/15/2019 Largest increase in short position ABX 14878929 2121219 1/15/2019 Barrick Gold First Quantum FM 10307593 1655383 1/15/2019 Lucara Diam LUC 4722953 1503996 1/15/2019 Perseus Mng PRU 1607398 1361789 1/15/2019 Lundin Mng LUN 5871196 1069861 1/15/2019 Largest decrease in short position RNX 2660066 -2684667 1/15/2019 Royal Nickel Goldcorp G 8848384 -2638552 1/15/2019 Osisko Mng Inc OSK 6091200 -1305199 1/15/2019 Guyana Gldflds GUY 3500364 -976235 1/15/2019 Nemaska Lith NMX 8104838 -764104 1/15/2019

Short positions outstanding as of Jan 31, 2019 (with changes from Jan 15, 2019) Largest short positions Scorpio Gold SGN 4491368 4295868 1/15/2019 First Cobalt FCC 1808080 -97174 1/15/2019 Leeta Gold HIVE 1378845 128322 1/15/2019 Atlantic Gold AGB 1313218 289019 1/15/2019 Intl Samuel Ex ISS 1189572 1120051 1/15/2019 Gratomic GRAT 1012419 318678 1/15/2019 Fission 3.0 FUU 889372 771696 1/15/2019 Equinox Gold EQX 867621 99385 1/15/2019 BonTerra Res BTR 835143 32477 1/15/2019 Cobalt 27 Cap KBLT 834698 147207 1/15/2019 Vendetta Mng VTT 776331 644868 1/15/2019 Purepoint Uran PTU 752560 726302 1/15/2019 Amarillo Gold AGC 729798 -2431 1/15/2019 Novo Res NVO 634910 471493 1/15/2019 Cartier Res ECR 563084 504889 1/15/2019 Largest increase in short position Scorpio Gold SGN 4491368 4295868 1/15/2019 Intl Samuel Ex ISS 1189572 1120051 1/15/2019 Fission 3.0 FUU 889372 771696 1/15/2019 Purepoint Uran PTU 752560 726302 1/15/2019 Vendetta Mng VTT 776331 644868 1/15/2019 Largest decrease in short position VO 10374 -3346107 1/15/2019 ValOre Metals ML Gold Corp MLG 168650 -650741 1/15/2019 Alturas Min ALT 222 -647112 1/15/2019 Gldn Predator GPY 92761 -540097 1/15/2019 Lithoquest Dia LDI 450 -358750 1/15/2019

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

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

ABE Resources Inc. (ABE.WT) - One warrant to purchase one common share at $0.15 per share. American Cumo Mining Corp. (MLY.RT) 2 rights and $0.07 are required to purchase one share Antioquia Gold Inc. (AGD.RT) - One (1) Right and $0.042 are required to purchase one share. Avino Silver & Gold Mines Ltd. (ASM. WT) - Wt buys sh @ US$0.2 to Nov 28/19 Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.30 per share. Cordoba Minerals Corp (CDB.WT) - One warrant to purchase one common share at $1.08 per share. Cornerstone Capital Resources (CGP. WT.S) - Wt buys sh @ $0.35 to Apr 07/19 Equinoxgold Corp (EQX.WT) - One warrant to purchase one common share at $3.00 per share. Falco Resources Ltd. (FPC.WT) - One warrant to purchase one common share at $1.70 per share.

Firefox Gold Corp. (FFOX.WT) - One warrant to purchase one common share at $3.00 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. JDL Gold Corp. (JDL.WT) - Wt buy sh @ $3.00 to Oct 06/21 Jet Metal (JET.WT) - Wt buys sh @ $0.25 to Sep 16/19 Jet Metal (JET.WT.A) - Wt buys sh @ $0.5 to Feb 28/19 Kootenay Silver Inc. (KTN.WT) - Wt buys sh @ $0.55 to Apr 21/21 LSC Lithium Corporation (LSC.RT) - One (1) right exercisable for One (1) Unit at $0.40 per Unit. Maple Gold Mines Ltd. (MGM.WT) One warrant to purchase one common share at $0.40 per share Millennial Lithium Corp. (ML.WT) - One warrant to purchase one common share at $4.25 per share.

Osisko Gold Royalties (OR.WT.A) - Wt buys sh @ $19.08 to Feb 26/19 Pilot Gold Inc. Wt (PLG.WT) - Wt buys sh @ $0.9 to May 16/19 Platinum Group Metals Ltd. (PTM.WT.U) - One Warrant to purchase one common share of the Issuer at US$0.17 until expiry Prairie Provident Resources Inc Wt (PPR. WT) - Wt buys sh @ $0.87 to Mar 16/19 Sandstorm Gold (SSL.WT.B) - One Warrant to purchase one common share of the Issuer at US $14.00 until expiry. Sherritt International Corporation (S.WT) - Each whole Warrant entitles the holder to acquire between 1.00 and 1.25 additional common shares (as bulletin 20180062 table ) determined based on the Applicable Reference Cobalt Price at an exercise price of $1.95 per Warrant at any time prior to the Expiry Date Sprott Resource Corp (SRHI.WT) - Wt buys sh @ $0.3333 to Feb 09/22

TSX VENTURE WARRANTS Rainy Mountain Royalty Corp. (RMO. WT) - Wt buys sh @ $0.15 to Mar 1/18 and sh @ $0.25 from Mar 2/18 to Mar 1/19 Rainy Mountain Royalty Corp. (RMD. WT) - Wt buys sh @ $0.15 to Mar 1/18 and sh @ $0.25 from Mar 2/18 to Mar 1/19 Sandfire Resources America Inc. (SFR.RT) - Eight (8) Rights exercisable for One (1) share at $0.06 per unit. Tintina Resources Inc. (TAU.RT) - Nine(9) Rights exercisable for one share at $0.06 per share. Trek Mining (TREK.WT) - Wt buy sh @ $3.00 to Oct 06/21 Vision Lithium Inc. (VLI.WT) - One warrant to purchase one common share at $0.15 per share. West Kirkland Mining (WKM.WT) - Wt buys sh @ $0.3 to Apr 17/19 Yellowhead Mining Inc. (YMI.RT) - One (1) Right and $0.12 are required to prchase one Share

NEW 52-WEEK HIGHS AND LOWS FEBRUARY 4–8, 2019 83 New Highs Abitibi Royal Abitibi Royal* Alacer Gold Alderon Iron* Amex Expl Appia Energy Appia Energy* Argo Gold Atlatsa Res* Aura Minerals* Barrick Gold* BE Res Black Hills* Cameco Corp Cameco Corp* Champion Iron Diamond Fields* Doubleview Cap Doubleview Cap*

Duncan Park H Dundee Prec Mt Durango Res* Eldorado Gold Eldorado Gold* Elysee Dev Elysee Dev * Ero Copper Ero Copper* Fidelity Min Fidelity Min* First Division Fortescue Met* God’s Lake Res Golden Star Golden Star* Golden Valley Golden Valley* Goldplay Expl* Gran Colombia Gran Colombia*

Great Bear Res Great Bear Res* Homeland Egy* Irving Res Irving Res* K92 Mining K92 Mining* Kirkland Lake Kirkland Lake* Kore Mining * Labrador Iron Lorraine Coppr Lorraine Coppr* M2 Cobalt* Magellan Gold* Mas Gold MAX Res McChip Res Metalla Rylty Metalla Rylty* Mistango River

New Pac Metals New Pac Metals* North Am Pall North Am Pall* One World Lith* Oroco Res Oroco Res* Pac Bay Mnrls* Pure Gold Mg Pure Gold Mg* Quaterra Res Quaterra Res* Sandstorm Gold Sandstorm Gold* SilverCrest SilverCrest* Slave Lake Zn SSR Mining SSR Mining* Vantex Res * Velocity Mnrls

Ximen Mining

36 New Lows 66 Resources Altura Mining* Angus Ventures Arianne Phosph* Avidian Gold Bankers Cobalt* Calibre Mng* CellCube Enrgy CellCube Enrgy* CONSOL Energy* Engold Mines* FireFox Gold Galway Gold * Gratomic* GrowMax Res Komet Resource Laredo Res* Leading Edge

Lovitt Res* Minaurum Gold* Mountain Prov Mountain Prov* New Milln Iron* Nouveau Monde NuLegacy Gold Pacific Rim PJX Res PolyMet Mng* Primary Energy Ridgestone M’g Ridgestone M’g* Skeena Res* Skyharbour Res Skyharbour Res* Vale* Xanadu Mines*

CANADIAN GOLD MUTUAL FUNDS

DAILY METAL PRICES Daily Metal Prices Date Feb 11 Feb 8 Feb 7 Feb 6 Feb 5 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) 1485/1510 1490/1510 1495/1515 1495/1520 1495/15220 Al Alloy Aluminum 1847/1869 1864.50/1889 1862/1890 1886/1912 1896/1922.50 Copper 6147.50/6164.50 6206/6227 6226/6246 6209/6229.50 6173.50/6190 Lead 2050/2066 2065/2084 2065/2085 2078/2095 2090/2112 Nickel 12470/12555 12730/12810 12840/12900 12925/13010 12865/12940 Tin 21075/20975 21025/20950 21075/20990 20875/20800 20950/20880 Zinc 2646/2642 2687.50/2691 2717/2715 2718/2718 2769/2759 PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.) Gold AM 1306.75 1311.10 1306.60 1313.35 1314.00 Gold PM 1306.40 1314.85 1310.00 1312.40 1314.20 Silver 15.71 15.78 15.71 15.73 15.87 Platinum 791.00 799.00 805.00 819.00 822.00 Palladium 1388.00 1394.00 1398.00 1378.00 1377.00

Fund AGF Prec Mtls Fd MF BMO Prec Mtls Fd A BMO ZGD BMO ZJG CIBC Prec Metal Fd A Dyn Prec Metls Fd A Galileo GOGO Harvest HGGG Horizons HEP IG Mac GbPMetCl A iShares XGD Mac Prec Met Cl A NBI PrecMetFd Invt NPT Gold&PrMinFdA NPT SilverEquCl A RBC GblPreMetFd A Sentry Pre Met Fd A TD Prec Mtl Fd Inv

Feb 08 ($) 19.22 18.53 45.55 46.22 9.66 6.95 10.61 20.86 24.34 8.69 12.06 45.37 12.29 33.26 4.95 32.82 34.44 32.06

Feb 01 ($) 19.30 18.62 45.11 46.44 9.53 6.99 10.54 20.97 24.13 8.74 11.90 45.62 12.12 33.30 4.90 32.74 34.52 31.68

Change ($) Change (%) YTDChange (%) MER (%) TotalAssets (M$) -0.08 -0.41 -12.13 2.80 92.31 -0.09 -0.46 -1.52 2.40 57.77 0.45 0.99 -10.67 0.61 -0.23 -0.48 -18.62 0.60 0.13 1.34 -8.74 2.45 41.24 -0.04 -0.57 -6.42 2.71 319.51 0.07 0.64 -3.24 -0.11 -0.51 0.21 0.86 -0.14 -0.05 -0.54 -7.74 2.75 30.07 0.16 1.34 -4.06 0.55 801.80 -0.25 -0.54 -8.09 2.52 55.71 0.17 1.40 -8.13 2.46 26.08 -0.04 -0.11 -11.14 3.04 0.06 1.15 -18.06 2.95 0.08 0.26 -7.08 2.13 294.14 -0.08 -0.23 -14.78 2.46 233.63 0.38 1.20 -8.94 2.27 102.93

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

Feb 8 Feb 7 Feb 6 Feb 5 Feb 4 1.3280 1.3312 1.3216 1.3127 1.3117 0.7530 0.7512 0.7567 0.7618 0.7624

Exchange rates (Quote Media, February 08, 2019) C$ to AUS C$ to EURO C$ to YEN C$ to Mex Peso C$ to SA Rand 1.0591 0.6625 82.4560 14.3314 10.2330 C$ to UK Pound C$ to China Yuan C$ to India Rupee C$ to Swiss Franc C$ to S. Korea Won 0.5802 5.0677 53.5630 0.7531 844.9843 US to AUS US to EURO US to YEN US to Mex Peso US to SA Rand 1.4099 0.8820 109.7625 19.0780 13.6238 US to UK Pound US to China Yuan US to India Rupee US to Swiss Franc US to S. Korea Won 0.7723 6.7448 71.5900 1.0025 1124.7500

LEGEND A – Australian Securities Exchange C – Canadian Stock Exchange L – London Stock Exchange N – New York Stock Exchange O – U.S. over-the-counter Q – NASDAQ or U.S. OTC T – Toronto Stock Exchange V – TSX Venture Exchange X – NYSE American * – Denotes price in U.S.$

19_FEB18_MMMM.indd 19

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

CONVERSIONS OF WEIGHTS & MEASURES 1 troy ounce = 31.1 grams 1 kilogram = 32.15 troy ounces 1 kilogram = 2.2046 pounds 1 (metric) tonne = 1,000 kilograms 1 (metric) tonne = 2,204.6 pounds 1 (short) ton = 2,000 pounds 1 (metric) tonne = 1.1023 (short) tons

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

GLOBAL MINING NEWS · SINCE 1915

Re-Publishing License Own your moment in the press with a RePublishing License for any article printed in The Northern Miner or posted on our website. Basic Re-Publishing License cost: $525

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

2019-02-12 3:49 PM

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: FEBRUARY 4–8, 2019 (100s) Stock

WWW.NORTHERNMINER.COM

FEBRUARY 18–MARCH 3, 2019 / THE NORTHERN MINER

Week

12-month

Exc Volume High Low Last Change High Low

A 37 Capital* O 1 37 Capital 112 66 Resources 144 92 Resources V 533 Abacus Mining V 145 Abacus Mining* O 453 V 370 Abcourt Mines Abcourt Mines* O 67 O 398 Aben Resources* Aben Resources V 1356 Aberdeen Intl* O 7 Aberdeen Intl T 98 Abitibi Mng* O 9 Abitibi Royal* O 11 Abitibi Royal V 30 O 110 AbraPlata Res* AbraPlata Res V 330 Acacia Mining* O 2 Adamera Min V 1950 Adamera Min* O 1482 Adex Mining V 285 Advance Gold V 148 Advantage Lith V 532 Advantage Lith* O 145 Adventus V 4715 Adventus* O 11 Aethon Mineral V 51 AEX Gold V 603 African Gold* O 1 African Gold V 880 African Min* O 24 Aftermath Silv* O 150 Aftermath Silv V 368 Agnico Eagle* N 3610 Agnico Eagle T 2523 AgriMinco* O 35 Aguia Resource V 180 Aguila Amer Gd V 25 AJN Resources 50 Alacer Gold T 4145 Alamos Gold T 4697 Alamos Gold* N 8729 Alaska Pac Egy* O 754 Alba Minerals* O 122 Albert Mining* O 9 Albert Mining V 997 N 17751 Alcoa* Aldebaran Res V 148 Alderon Iron* O 158 Alderon Iron T 2170 Aldever Res* O 3 Aldever Res V 250 Alexandria Min V 1608 O 736 Alexandria Min* Alexco Res* X 1827 Alexco Res T 567 Algold Res* O 0 Algold Res V 168 Alianza Min V 85 Alianza Min* O 1 Alien Metals* O 2063 Alio Gold* X 983 Alio Gold T 552 Allante Res V 133 Allegiant Gold* O 78 Allegiant Gold V 104 Alliance Mng V 822 Alliance Res* D 2217 Almaden Min T 141 Almaden Min* X 634 Almadex Min* O 183 Almadex Min V 146 Almonty Ind T 177 Almonty Ind * O 44 Aloro Mining* O 153 Aloro Mining V 1017 51 Alphamin Res * O Alphamin Res V 212 ALQ Gold 394 Altai Resource V 232 Altair Res Inc* O 27 Altair Res Inc V 183 Altamira Gold V 371 Altamira Gold* O 154 Altan Nevada V 1100 32 Altan Rio Min V Altiplano Met V 127 Altius Mnrls * O 106 Altius Mnrls T 356 Alto Ventures V 129 Altura Mining* O 250 Alturas Min V 2257 Altus Strat V 135 Alumina Ltd* O 53 ALX Uranium V 235 ALX Uranium* O 111 AM Resources V 45 Amador Gold V 691 Amarc Res V 65 Amarc Res* O 147 Amarillo Gold V 343 Amarillo Gold* O 688 Amazing Energy* O 213 Amer Intl Vent* O 274 American Creek* O 605 American Creek V 760 O 393 American CuMo* American Lith V 1193 American Lith* O 2831 American Mang* O 117 American Mang V 449 American Pac 1116 American Pac* O 208 AmericanSierra* O 1 Americas Silvr T 291 Americas Silvr* X 658 Amerigo Res T 232 Amerigo Res* O 103 Amex Expl* O 87 Amex Expl V 2114 Amilot Capital V 75 Amseco Expl V 8 Anaconda Mng T 433 Anaconda Mng* O 135 Anconia Res V 523 Andes Gold* O 161 Anfield Energy* O 33 Anfield Energy V 659 Angel Gold* O 26 Angel Gold V 69 Angkor Gold V 172 Angkor Gold* O 37 Anglo American* O 3 Anglo American* O 441 Anglo Pac Grp T 6 AngloGold Ash* O 0 AngloGold Ash* N 13602 Angus Ventures V 56 Antioquia Gold* O 39 Antioquia Gold V 301 Antler Gold V 125 Antofagasta* O 1463 Apex Res V 0 Appia Energy* O 390 Appia Energy 462 Applied Min* O 150 Aquila Res T 392 Aquila Res* O 536 Arch Coal* N 1726 Archon Mineral V 5 Arctic Star* O 95 Arctic Star V 1040 Arcturus Vent* O 0 Arcturus Vent V 0 Arcus Dev Grp V 1873 Arena Min V 166 Arena Min* O 23 Argentina Lith* O 0 Argentina Lith V 36 Argentum Silvr V 60 Argex Titanium T 2328 Argex Titanium* O 1596 Argo Gold* O 105 Argo Gold 827 Argonaut Gold* O 505 Argonaut Gold T 1935

20-23_FEB18_StockTables.indd 20

0.18 0.18 0.18 unch 0.00 0.52 0.10 0.20 0.15 0.15 - 0.08 0.30 0.10 0.14 0.06 0.12 + 0.01 0.27 0.06 0.03 0.03 0.03 unch 0.00 0.10 0.03 0.08 0.00 0.08 - 0.01 0.38 0.07 0.07 0.05 0.06 - 0.01 0.29 0.05 0.07 0.06 0.07 + 0.01 0.08 0.04 0.05 0.04 0.05 - 0.00 0.06 0.03 0.13 0.11 0.12 - 0.00 0.38 0.08 0.17 0.15 0.16 + 0.01 0.49 0.11 0.05 0.04 0.04 - 0.00 0.15 0.03 0.06 0.05 0.06 unch 0.00 0.21 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 9.06 8.68 9.06 + 0.11 8.95 5.89 12.25 11.26 12.04 + 0.77 12.25 7.98 0.05 0.03 0.03 - 0.02 0.18 0.03 0.06 0.05 0.06 - 0.01 0.23 0.04 2.30 2.30 2.30 unch 0.00 2.30 1.43 0.03 0.02 0.03 unch 0.00 0.20 0.02 0.03 0.02 0.03 + 0.00 0.17 0.02 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.08 0.00 0.07 - 0.01 0.60 0.06 0.67 0.58 0.60 - 0.02 1.24 0.41 0.51 0.43 0.45 - 0.03 0.99 0.29 0.98 0.76 0.95 + 0.22 1.16 0.51 0.71 0.58 0.68 + 0.14 0.90 0.48 0.18 0.16 0.16 - 0.02 0.85 0.11 0.33 0.28 0.33 + 0.05 0.53 0.28 0.03 0.02 0.02 - 0.01 0.04 0.01 0.04 0.03 0.03 unch 0.00 0.05 0.02 0.00 0.00 0.00 + 0.00 0.01 0.00 0.08 0.00 0.08 + 0.03 0.14 0.05 0.11 0.09 0.10 + 0.02 0.20 0.05 43.75 42.39 43.35 + 0.08 47.83 32.18 57.80 55.59 57.48 + 0.86 62.80 42.35 0.00 0.00 0.00 + 0.00 0.01 0.00 0.14 0.14 0.14 unch 0.00 0.43 0.10 0.27 0.27 0.27 unch 0.00 0.28 0.17 0.06 0.00 0.06 - 0.02 0.20 0.06 3.47 3.06 3.31 + 0.20 3.47 1.97 6.04 5.61 5.85 + 0.03 7.97 3.88 4.59 4.23 4.41 - 0.03 6.13 2.90 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.06 0.05 0.05 unch 0.00 0.24 0.04 0.04 0.04 0.04 unch 0.00 0.08 0.01 0.05 0.05 0.05 unch 0.00 0.09 0.02 29.50 26.51 27.65 - 0.95 62.35 25.01 0.75 0.68 0.75 + 0.05 0.90 0.41 0.35 0.29 0.30 - 0.03 0.35 0.15 0.46 0.34 0.42 - 0.03 0.50 0.22 0.02 0.02 0.02 + 0.00 0.08 0.02 0.04 0.04 0.04 unch 0.00 0.11 0.03 0.03 0.03 0.03 - 0.01 0.10 0.02 0.03 0.02 0.02 - 0.00 0.08 0.01 1.26 1.15 1.25 + 0.10 1.70 0.68 1.67 1.50 1.61 + 0.13 2.14 0.92 0.00 0.00 0.19 unch 0.00 0.59 0.19 0.31 0.27 0.30 + 0.03 1.90 0.23 0.08 0.07 0.07 - 0.01 0.15 0.06 0.05 0.05 0.05 - 0.00 0.10 0.04 0.00 0.00 0.00 + 0.00 0.01 0.00 0.86 0.76 0.81 - 0.03 3.28 0.63 1.10 1.02 1.08 - 0.01 4.03 0.81 0.12 0.11 0.11 unch 0.00 0.20 0.06 0.21 0.18 0.19 - 0.02 0.58 0.00 0.28 0.24 0.25 - 0.01 0.63 0.16 0.02 0.01 0.01 unch 0.00 0.05 0.01 20.07 18.63 18.81 - 0.86 20.99 15.55 1.01 0.93 0.94 - 0.05 1.20 0.63 0.78 0.70 0.70 - 0.05 0.98 0.48 0.24 0.22 0.23 + 0.01 0.45 0.14 0.32 0.29 0.32 + 0.02 0.51 0.25 0.72 0.58 0.70 + 0.07 0.98 0.35 0.48 0.44 0.48 - 0.01 0.73 0.29 0.15 0.07 0.07 - 0.07 0.16 0.06 0.20 0.09 0.10 - 0.08 0.23 0.07 0.20 0.17 0.17 - 0.03 0.26 0.16 0.26 0.24 0.24 - 0.02 0.33 0.22 2.95 2.40 2.52 - 0.26 4.04 1.95 0.10 0.09 0.09 unch 0.00 0.47 0.07 0.03 0.03 0.03 unch 0.00 0.07 0.02 0.06 0.05 0.05 - 0.01 0.30 0.04 0.11 0.10 0.10 + 0.01 0.25 0.05 0.08 0.07 0.07 - 0.01 0.20 0.04 0.02 0.01 0.01 unch 0.00 0.05 0.01 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.16 0.15 0.15 - 0.01 0.51 0.09 9.19 8.45 9.11 + 0.46 11.70 7.31 12.19 11.16 12.09 + 0.74 14.80 10.04 0.03 0.02 0.02 unch 0.00 0.06 0.02 0.11 0.09 0.10 - 0.02 0.38 0.09 0.01 0.01 0.01 unch 0.00 0.05 0.01 0.07 0.06 0.07 + 0.01 0.15 0.04 7.48 6.96 6.98 - 0.15 8.97 6.09 0.07 0.06 0.06 unch 0.00 0.09 0.05 0.05 0.04 0.05 - 0.01 0.07 0.04 0.20 0.14 0.19 + 0.06 0.31 0.12 0.70 0.56 0.63 + 0.02 1.10 0.46 0.07 0.06 0.06 + 0.01 0.15 0.04 0.04 0.04 0.04 - 0.00 0.12 0.03 0.28 0.25 0.26 - 0.01 0.32 0.19 0.21 0.20 0.21 + 0.01 0.25 0.15 0.35 0.23 0.30 + 0.02 0.94 0.00 0.02 0.01 0.02 + 0.00 0.03 0.00 0.03 0.03 0.03 + 0.00 0.04 0.02 0.04 0.03 0.03 unch 0.00 0.06 0.03 0.09 0.04 0.04 - 0.02 0.10 0.02 0.41 0.34 0.34 - 0.08 0.74 0.22 0.32 0.25 0.26 - 0.06 0.69 0.18 0.12 0.10 0.11 - 0.01 0.24 0.10 0.15 0.14 0.14 - 0.01 0.30 0.13 0.15 0.12 0.13 + 0.01 0.41 0.04 0.10 0.08 0.10 + 0.02 0.32 0.03 0.01 0.00 0.01 - 0.01 0.03 0.01 2.35 2.24 2.30 + 0.02 5.37 1.66 1.83 1.70 1.74 - 0.01 4.30 1.24 0.99 0.92 0.99 + 0.08 1.17 0.67 0.74 0.71 0.74 + 0.04 0.95 0.51 0.46 0.00 0.46 - 0.01 0.48 0.04 0.72 0.46 0.71 + 0.09 0.63 0.06 0.07 0.00 0.07 unch 0.00 0.20 0.05 0.07 0.07 0.07 - 0.01 0.29 0.01 0.28 0.25 0.25 - 0.03 0.50 0.18 0.21 0.19 0.19 - 0.01 0.40 0.14 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.01 0.01 0.01 - 0.00 0.01 0.00 0.16 0.14 0.15 + 0.00 0.45 0.12 0.23 0.19 0.20 unch 0.00 0.59 0.18 0.03 0.02 0.02 - 0.01 0.08 0.01 0.04 0.03 0.03 - 0.01 0.10 0.02 0.17 0.15 0.16 - 0.01 0.21 0.11 0.13 0.12 0.12 + 0.01 0.32 0.09 25.78 0.00 25.43 - 0.48 26.05 19.09 12.90 12.43 12.57 - 0.37 13.13 9.37 2.80 2.60 2.60 unch 0.00 4.75 1.60 15.04 0.00 15.04 unch 0.00 15.04 7.38 13.87 13.10 13.50 - 0.80 14.32 7.08 0.30 0.30 0.30 unch 0.00 0.50 0.30 0.03 0.02 0.03 + 0.01 0.05 0.01 0.04 0.03 0.03 - 0.01 0.10 0.02 0.11 0.00 0.11 + 0.02 0.20 0.05 11.68 11.32 11.32 - 0.26 15.70 9.27 0.00 0.00 0.06 unch 0.00 0.13 0.04 0.31 0.27 0.30 + 0.01 0.31 0.08 0.41 0.36 0.40 + 0.04 0.41 0.11 0.04 0.04 0.04 - 0.00 0.25 0.03 0.23 0.20 0.22 + 0.01 0.39 0.13 0.17 0.15 0.17 + 0.01 0.30 0.10 89.59 81.43 81.64 - 6.58 102.61 75.09 0.60 0.60 0.60 unch 0.00 1.31 0.60 0.04 0.04 0.04 - 0.00 0.20 0.03 0.05 0.04 0.04 - 0.01 0.26 0.04 0.00 0.00 0.06 unch 0.00 0.06 0.06 0.00 0.00 0.09 unch 0.00 0.16 0.09 0.04 0.03 0.03 - 0.02 0.07 0.03 0.05 0.00 0.05 unch 0.00 0.11 0.05 0.04 0.04 0.04 unch 0.00 0.08 0.03 0.10 0.00 0.10 - 0.01 0.32 0.03 0.16 0.15 0.15 - 0.01 1.60 0.09 0.14 0.14 0.14 unch 0.00 0.33 0.10 0.05 0.05 0.05 unch 0.00 0.06 0.03 0.04 0.04 0.04 + 0.00 0.05 0.01 0.18 0.16 0.18 - 0.03 0.21 0.08 0.33 0.20 0.31 + 0.09 0.30 0.07 1.39 1.29 1.38 + 0.02 2.07 0.85 1.83 1.68 1.82 + 0.05 2.66 1.18

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Arianne Phosph V 152 Arianne Phosph* O 7 Arizona Silver* O 87 Arizona Silver V 196 Armor Min V 9 Armor Min* O 1 Asanko Gold* X 1061 Asanko Gold T 213 Asante Gold 220 Asbestos Corp V 3 Ascendant Res* O 13 Ascendant Res T 208 O 20 Ascot Res * Ascot Res V 334 Ashanti Gold V 987 Ashanti Sanko V 60 V 14 AsiaBaseMetals Asian Mineral V 27 Aston Bay V 426 Aston Bay* O 110 Astorius Res V 250 Astur Gold V 19 ATAC Res V 844 ATAC Res* O 76 Atacama Res* O 104230 Atalaya Mining T 1 O 10 Athabasca Min* Athabasca Min V 236 Athena Silver* O 1 Atico Mining* O 47 Atico Mining V 145 Atlanta Gold* O 250 Atlanta Gold V 0 Atlantic Gold V 756 Atlantic Gold* O 309 Atlantic Indus V 79 Atlatsa Res* O 31 Atlatsa Res T 28 1 Atom Energy * O Aton Resources* O 37 Aton Resources V 479 Aura Minerals * O 0 Aura Minerals* O 156 Aura Minerals T 124 V 16 Aura Resources Aura Resources* O 8 Auramex Res V 100 Aurania Res* O 23 Aurania Res V 72 Aurcana Corp V 86 O 27 Aurcana Corp* AurCrest Gold V 2399 Aurelius Min V 572 Aurion Res * O 109 Aurion Res V 1051 Aurora Royal V 1282 AURYN Mining* O 0 Auryn Resource T 265 X 524 Auryn Resource* Aust Mines* O 103 Austin Res V 1000 Austral Gold* O 7 Austral Gold V 135 Auxico Res 262 T 535 Avalon Advance O 293 Avalon Advance* Avarone Metals 1462 Avesoro Res T 0 Avesoro Res* O 0 Avidian Gold V 133 Avino Silver* X 1305 Avino Silver T 165 Avrupa Min V 3531 Avrupa Min* O 243 Awale Res V 38 Axiom Mining* O 97 Axmin Inc* O 29 Axmin Inc V 634 Azarga Metals V 34 Azarga Metals* O 20 357 Azarga Uranium T Azarga Uranium* O 127 Azimut Explor V 25 Azimut Explor* O 0 O 49 Azincourt Ener* V 424 Azincourt Ener Aztec Minerals V 9 Aztec Minerals* O 11 Azteca Gold* O 20 Azucar Min V 187

0.46 0.40 0.43 + 0.01 0.65 0.39 0.32 0.00 0.30 - 0.01 0.51 0.30 0.09 0.09 0.09 - 0.00 0.16 0.04 0.13 0.12 0.12 unch 0.00 0.20 0.06 0.59 0.00 0.59 + 0.18 0.73 0.30 0.30 0.30 0.30 unch 0.00 0.31 0.25 0.80 0.71 0.71 - 0.07 1.38 0.56 1.05 0.95 0.97 - 0.04 1.79 0.80 0.06 0.05 0.05 unch 0.00 0.07 0.03 0.40 0.40 0.40 unch 0.00 0.90 0.33 0.38 0.37 0.37 - 0.01 0.96 0.28 0.50 0.45 0.45 - 0.04 1.23 0.35 0.76 0.00 0.73 - 0.09 1.23 0.59 1.06 0.95 1.03 - 0.04 1.65 0.76 0.05 0.04 0.05 - 0.01 0.25 0.04 0.03 0.00 0.03 unch 0.00 0.10 0.02 0.24 0.22 0.24 + 0.01 0.40 0.15 0.28 0.00 0.25 - 0.07 4.00 0.25 0.06 0.06 0.06 unch 0.00 0.29 0.05 0.05 0.04 0.04 - 0.00 0.20 0.03 0.04 0.03 0.04 + 0.01 0.14 0.03 0.20 0.18 0.20 + 0.02 0.31 0.18 0.31 0.27 0.27 - 0.04 0.63 0.21 0.24 0.21 0.21 - 0.01 0.51 0.15 0.00 0.00 0.00 - 0.00 0.00 0.00 4.08 3.82 3.82 - 0.21 5.10 2.88 0.26 0.23 0.23 - 0.02 0.27 0.09 0.35 0.28 0.31 - 0.03 0.35 0.12 0.02 0.02 0.02 unch 0.00 0.30 0.02 0.27 0.24 0.27 + 0.01 0.61 0.17 0.35 0.32 0.34 + 0.01 0.76 0.23 0.02 0.02 0.02 - 0.00 0.05 0.02 0.00 0.00 0.04 unch 0.00 0.07 0.04 1.93 1.72 1.92 + 0.17 1.99 1.40 1.45 1.30 1.45 + 0.12 1.57 1.07 0.01 0.01 0.01 unch 0.00 0.05 0.01 0.07 0.06 0.06 - 0.00 0.07 0.02 0.09 0.09 0.09 unch 0.00 0.09 0.03 0.03 0.00 0.03 unch 0.00 0.34 0.00 0.04 0.04 0.04 + 0.00 0.08 0.02 0.05 0.05 0.05 - 0.01 0.11 0.02 0.00 0.00 15.84 unch 0.00 16.50 1.00 16.00 14.49 14.49 - 0.91 16.50 1.00 20.28 0.00 18.86 - 1.45 28.80 14.60 0.05 0.00 0.04 + 0.01 0.18 0.03 0.03 0.03 0.03 unch 0.00 0.03 0.01 0.05 0.00 0.05 unch 0.00 0.10 0.03 2.50 1.97 2.11 - 0.16 2.70 1.03 3.43 2.62 2.78 - 0.20 3.55 1.93 0.58 0.47 0.57 + 0.09 1.38 0.35 0.45 0.35 0.44 + 0.07 0.52 0.00 0.03 0.00 0.03 + 0.01 0.04 0.01 0.03 0.03 0.03 - 0.01 0.07 0.02 1.00 0.74 0.95 + 0.19 1.63 0.52 1.34 0.98 1.23 + 0.25 2.15 0.67 0.11 0.09 0.09 - 0.01 0.24 0.05 0.71 0.00 0.71 + 0.13 1.95 0.16 1.40 1.34 1.37 unch 0.00 1.97 1.14 1.09 1.01 1.06 + 0.04 1.60 0.85 0.04 0.03 0.03 - 0.01 0.33 0.02 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.05 0.05 0.05 + 0.00 0.11 0.01 0.08 0.06 0.08 + 0.02 0.13 0.05 0.25 0.18 0.21 unch 0.00 0.43 0.12 0.06 0.05 0.06 unch 0.00 0.15 0.05 0.05 0.04 0.04 - 0.00 0.12 0.03 0.07 0.06 0.06 unch 0.00 0.14 0.04 2.60 0.00 2.60 - 0.13 5.99 2.30 0.00 0.00 1.78 unch 0.00 3.65 1.78 0.35 0.21 0.22 - 0.12 0.70 0.21 0.66 0.60 0.62 + 0.01 1.55 0.50 0.88 0.81 0.83 + 0.02 1.95 0.65 0.07 0.05 0.05 - 0.02 0.13 0.04 0.05 0.04 0.04 - 0.01 0.10 0.03 0.08 0.08 0.08 unch 0.00 0.37 0.06 0.00 0.00 0.07 unch 0.00 0.07 0.07 0.19 0.19 0.19 + 0.02 0.23 0.02 0.26 0.23 0.23 unch 0.00 0.30 0.03 0.11 0.09 0.09 - 0.02 0.16 0.09 0.07 0.00 0.07 - 0.02 0.11 0.05 0.25 0.23 0.24 unch 0.00 0.19 0.18 0.18 - 0.00 0.24 0.14 0.24 0.23 0.23 unch 0.00 0.48 0.22 0.00 0.00 0.19 unch 0.00 0.32 0.17 0.05 0.04 0.05 + 0.01 0.17 0.03 0.06 0.05 0.05 - 0.01 0.22 0.05 0.18 0.17 0.17 - 0.01 0.38 0.14 0.13 0.12 0.13 - 0.00 0.30 0.10 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.40 0.34 0.38 + 0.01 1.70 0.29

B2Gold Corp* X 16710 12371 B2Gold Corp T Balmoral Res T 1012 Balmoral Res* O 295 Balto Res V 60 V 410 Bankers Cobalt Bankers Cobalt* O 80 Bannerman Res* O 88 Banyan Gold V 400 Banyan Gold* O 145 Bard Ventures V 55 Bard Ventures* O 0 Barker Min V 222 Barkerville V 954 Barkerville* O 109 Barolo Venture V 212 Baroyeca Gold* O 725 Baroyeca Gold V 450 Barrick Gold * N 60748 Barrick Gold T 24588 Barsele Min* O 78 Barsele Min V 244 Batero Gold* O 100 Batero Gold V 1040 O 77 Bayhorse Silvr* Bayhorse Silvr V 375 BC Moly V 7 BCM Res V 122 BCM Res* O 2 BE Res V 264 BE Res* O 40 Bear Creek Mng V 89 38 Bear Creek Mng* O Bearclaw Cap V 85 Bearing Lith V 117 Bearing Lith* O 13 Bell Copper* O 312 Bell Copper V 463 Belmont Res V 1721 Belo Sun Mng T 813 Belo Sun Mng* O 757 BeMetals V 384 Benchmark Met* O 14 Benchmark Met V 370 Benton Res V 347 Benton Res* O 0 Benz Mining V 350 Benz Mining* O 10 Berkwood Res * O 44 Berkwood Res V 392 Bird River Res 394 Bitterroot Res* O 175 Bitterroot Res V 171 Black Bull Res* O 4 Black Dragon V 3 Black Dragon* O 350 Black Hills* N 2102 Black Iron T 5666 Black Iron* O 375 Black Mammoth* O 12 Black Mammoth V 80 Black Sea V 169 Black Sea * O 27 Black Tusk Res* O 5 Black Tusk Res 385 Blackheath Res V 35 Blackrock Gold* O 199 Blackrock Gold V 952 Blind Creek V 69 BLOX Inc* O 20 Blue Moon Zinc* O 55 Blue Moon Zinc V 659 Blue River Res V 525 Blue River Res* O 752 Blue Sky Uran* O 75 Blue Sky Uran V 740

3.17 2.93 3.09 - 0.05 3.18 2.10 4.15 3.95 4.11 - 0.01 4.17 2.77 0.18 0.15 0.17 - 0.01 0.48 0.12 0.14 0.11 0.13 + 0.01 0.37 0.08 0.08 0.07 0.07 - 0.01 0.38 0.05 0.03 0.03 0.03 - 0.01 0.54 0.02 0.02 0.00 0.02 - 0.00 0.42 0.01 0.03 0.03 0.03 + 0.00 0.06 0.03 0.06 0.06 0.06 unch 0.00 0.10 0.04 0.04 0.04 0.04 + 0.00 0.08 0.02 0.36 0.32 0.32 - 0.02 1.63 0.18 0.00 0.00 0.19 unch 0.00 0.21 0.03 0.01 0.01 0.01 - 0.01 0.02 0.01 0.44 0.40 0.42 - 0.01 0.72 0.30 0.33 0.31 0.31 - 0.02 0.58 0.23 0.25 0.25 0.25 unch 0.00 0.30 0.09 0.02 0.02 0.02 unch 0.00 0.02 0.01 0.02 0.01 0.01 - 0.01 0.04 0.01 13.73 13.02 13.62 + 0.37 91.39 11.52 18.22 17.08 18.07 + 0.74 18.99 12.54 0.42 0.38 0.38 - 0.01 0.68 0.28 0.50 0.43 0.46 - 0.04 1.03 0.36 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.07 0.06 0.06 - 0.01 0.10 0.06 0.08 0.07 0.07 + 0.00 0.22 0.06 0.10 0.09 0.09 - 0.01 0.26 0.09 0.03 0.03 0.03 unch 0.00 0.16 0.03 0.13 0.09 0.11 - 0.02 0.26 0.09 0.09 0.09 0.09 unch 0.00 0.19 0.09 0.07 0.00 0.07 + 0.04 0.07 0.02 0.04 0.04 0.04 + 0.03 0.05 0.01 1.53 1.42 1.44 - 0.01 2.60 0.89 1.13 1.07 1.07 - 0.05 2.07 0.71 0.04 0.03 0.03 unch 0.00 0.06 0.03 0.25 0.23 0.24 - 0.01 0.82 0.21 0.19 0.00 0.19 + 0.01 0.80 0.02 0.12 0.08 0.08 - 0.01 0.12 0.03 0.15 0.11 0.12 unch 0.00 0.16 0.05 0.05 0.04 0.04 unch 0.00 0.10 0.03 0.35 0.30 0.31 - 0.05 0.42 0.17 0.28 0.22 0.24 - 0.03 0.33 0.12 0.30 0.27 0.28 + 0.01 0.30 0.15 0.15 0.14 0.14 + 0.02 0.30 0.06 0.22 0.19 0.19 - 0.02 0.39 0.16 0.06 0.05 0.05 - 0.01 0.09 0.04 0.04 0.04 0.04 unch 0.00 0.06 0.03 0.07 0.05 0.06 - 0.02 0.15 0.05 0.04 0.04 0.04 + 0.00 0.11 0.04 0.07 0.06 0.07 + 0.00 0.19 0.05 0.08 0.07 0.08 unch 0.00 0.23 0.06 0.04 0.04 0.04 + 0.01 0.29 0.03 0.02 0.01 0.01 - 0.00 0.09 0.01 0.03 0.03 0.03 - 0.01 0.12 0.02 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.09 unch 0.00 0.39 0.08 0.08 0.07 0.07 unch 0.00 0.14 0.05 70.25 65.96 69.43 + 2.35 68.23 50.49 0.09 0.06 0.09 + 0.03 0.12 0.05 0.07 0.05 0.07 + 0.02 0.09 0.03 0.03 0.03 0.03 unch 0.00 0.09 0.03 0.06 0.00 0.06 unch 0.00 0.14 0.05 0.04 0.03 0.04 unch 0.00 0.14 0.02 0.03 0.00 0.03 + 0.01 0.11 0.01 0.11 0.11 0.11 + 0.01 1.06 0.11 0.16 0.13 0.15 + 0.01 0.29 0.13 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.04 0.02 0.03 + 0.00 0.12 0.02 0.05 0.04 0.04 - 0.01 0.16 0.04 0.05 0.04 0.04 - 0.01 0.35 0.03 0.20 0.14 0.20 unch 0.00 0.30 0.13 0.03 0.03 0.03 - 0.00 0.11 0.02 0.05 0.04 0.04 - 0.01 0.14 0.04 0.02 0.02 0.02 - 0.01 0.05 0.02 0.02 0.01 0.01 + 0.00 0.04 0.01 0.11 0.10 0.11 - 0.00 0.23 0.09 0.14 0.13 0.14 + 0.01 0.28 0.13

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Blue Star Gold V 349 O 30 BlueBird Batt* BlueBird Batt V 1406 V 209 Bluenose Gold Bluestone Res* O 6 Bluestone Res V 339 Bold Ventures V 305 Bonanza Gold* O 795 BonTerra Res V 542 Boreal Metals V 54 Borneo Res Inv* O 2443 Bravada Gold V 1580 O 434 Bravada Gold* Braveheart Res V 533 O 15 Braveheart Res* Bravo Multinat* O 11 40309 Brazil Min* O Brigadier Gold* O 9 Brigadier Gold V 146 BrightRock* O 136 O 3949 Britannia Mng* Brixton Metals V 342 O 159 Brixton Metals* Broadway Gold V 43 Broadway Gold* O 4 Brookmount Exp* O 9063 Brunswick Res V 1410 Bryn Res* O 88 BTU Metals V 1270 Buenaventura* N 7072 Bullfrog Gold* O 394 Bunker Hill 102 BWR Explor V 203

0.03 0.03 0.03 unch 0.00 0.05 0.02 0.21 0.17 0.21 + 0.04 0.41 0.14 0.29 0.21 0.27 + 0.05 0.56 0.16 0.15 0.12 0.14 + 0.03 0.33 0.09 1.12 1.08 1.10 - 0.04 1.35 0.81 1.49 1.41 1.46 - 0.02 1.60 1.05 0.02 0.02 0.02 + 0.01 0.05 0.02 0.00 0.00 0.00 unch 0.00 0.00 0.00 2.57 2.17 2.19 - 0.38 5.80 2.09 0.11 0.09 0.10 + 0.01 0.35 0.04 0.00 0.00 0.00 - 0.00 0.00 0.00 0.10 0.08 0.08 + 0.01 0.12 0.05 0.08 0.06 0.07 + 0.01 0.09 0.04 0.10 0.06 0.09 - 0.01 0.12 0.06 0.07 0.07 0.07 unch 0.00 0.08 0.05 0.51 0.00 0.51 + 0.03 0.95 0.02 0.00 0.00 0.00 + 0.00 0.01 0.00 0.15 0.15 0.15 unch 0.00 0.15 0.10 0.20 0.15 0.18 - 0.02 0.26 0.05 0.00 0.00 0.00 + 0.00 0.01 0.00 0.00 0.00 0.00 - 0.00 0.01 0.00 0.20 0.18 0.19 + 0.01 0.37 0.13 0.15 0.13 0.15 + 0.01 0.30 0.10 0.09 0.08 0.08 - 0.01 0.26 0.06 0.07 0.05 0.07 + 0.02 0.21 0.02 0.01 0.00 0.01 + 0.00 0.03 0.00 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.07 0.06 0.07 unch 0.00 0.09 0.00 0.12 0.09 0.12 + 0.02 0.14 0.04 16.53 15.42 16.25 + 0.55 16.83 11.67 0.05 0.04 0.04 + 0.00 0.15 0.04 0.20 0.09 0.09 - 0.11 2.30 0.03 0.06 0.05 0.05 - 0.01 0.09 0.03

Cabral Gold V 563 Cabral Gold* O 22 Cache Explor* O 1 Cache Explor V 994 Cadence Min* O 0 Cadillac Vent* O 12 Cadillac Vent V 12 Caledonia Mng* X 41 Caledonia Mng T 14 Calibre Mng V 97 Calibre Mng* O 7 California Gld V 214 California Gld* O 75 O 478 Callinex Mines* Callinex Mines V 233 Cameco Corp* N 14293 Cameco Corp T 5841 Cameo Cobalt* O 48 Cameo Cobalt V 3937 Camino Min* O 61 Camino Min V 162 Camrova Res* O 9 Canada Carbon V 691 Canada Carbon* O 138 Canada Coal* O 0 Canada Coal V 64 Canada Cobalt * O 113 Canada Cobalt V 460 Canada One V 66 Canada Rare V 176 Canada Rare* O 7 Canadian Engy V 29 Canadian Metal 414 Canadian Metal* O 30 Canadian Ore* O 3 Canadian Ore V 49 Canadian Prem V 22 Canadian Prem* O 4 V 156 CanAlaska Uran CanAlaska Uran* O 48 Canamex Gold* O 292 Canamex Gold 56 Canarc Res* O 278 Canarc Res T 554 Canasil Res V 195 O 0 Candelaria Mg* Candelaria Mg V 33 Candente Coppr T 252 Candente Gold* O 0 Candente Gold V 217 CANEX Metals V 52 CaNickel Mng V 95 CaNickel Mng* O 3 Canoe Mng Vent V 1351 Canstar Res V 35 Canstar Res* O 3 Canterra Mnls V 86 Cantex Mn Dev V 35 Cantex Mn Dev* O 78 Canuc Res V 73 Canuc Res* O 6 Capstone Mng T 1584 Cardero Res V 160 Cardero Res* O 12 Cardinal Res* O 1 Cardinal Res T 253 Cariboo Rose V 275 Carlin Gold V 820 Carrara Explor 6651 Cartier Iron 50 Cartier Res V 116 Carube Copper V 111 Casa Minerals V 129 Cascadero Copp V 195 Castle Peak Mg V 2128 Cautivo Mining 150 CellCube Enrgy* O 659 CellCube Enrgy 12054 Centamin T 14 Centaurus Diam* O 189 O 100 Centenera Mng* Centenera Mng V 256 Centerra Gold T 3258 Central Iron V 47 Central Tim Ex V 159 Centurion Mnls V 621 Century Cobalt* O 172 Century Global T 34 Cerro de Pasc 317 Cerro Grande* O 40 Cerro Grande 30 Cerro Mng* O 2 Cerro Mng V 15 Ceylon Graph V 19 Chakana Copper V 875 O 108 Chakana Copper* Chalice Gold M* O 96 Chalice Gold M T 409 V 74 Champion Bear Champion Bear* O 31 Champion Iron T 5702 Champion Iron* O 62 Chantrell Vent V 95 Chatham Rock V 22 Chesapeake Gld* O 36 Chesapeake Gld V 39 Chevron Corp* N 32796 Chiboug Ind Mn V 211 Chilean Metals* O 15 Chilean Metals V 149 Chimata Gold 11 China Gold Int T 264 Cicada Vents V 60 CIM Intl Grp 15 Cipher Res V 50 Clarmin Explor V 105 Clean Comm V 1927 Clean Comm* O 17 Cleghorn Mnls V 192 Cleveland-Clif* N 94451 Cliffmont Res V 3 Clifton Mng* O 18 Cloud Peak En* N 29473 Clydesdale Res V 161 CMC Metals* O 4 CMC Metals V 125 CMX Gold & Sil 6 CNRP Mng 749 CNRP Mng* O 701 Cobalt 27 Cap V 732 Cobalt Block V 384 Cobalt Block* O 62

0.32 0.27 0.27 - 0.05 0.44 0.18 0.25 0.25 0.25 + 0.01 0.32 0.14 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.04 0.03 0.03 unch 0.00 0.07 0.03 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.03 0.03 0.03 unch 0.00 0.04 0.01 6.22 5.45 5.69 - 0.40 9.94 5.01 7.90 7.40 7.42 - 0.48 12.50 6.87 0.72 0.63 0.68 + 0.08 1.00 0.30 0.54 0.00 0.54 + 0.07 0.55 0.03 0.31 0.00 0.26 - 0.05 0.36 0.19 0.21 0.21 0.21 - 0.00 0.28 0.13 0.08 0.07 0.07 - 0.01 0.26 0.05 0.10 0.09 0.10 - 0.01 0.33 0.08 13.04 11.94 12.34 + 0.23 13.04 8.34 17.12 15.68 16.39 + 0.57 17.12 10.50 0.08 0.06 0.07 + 0.01 0.99 0.03 0.10 0.08 0.10 + 0.03 0.45 0.05 0.14 0.00 0.12 unch 0.00 0.32 0.07 0.18 0.14 0.16 - 0.02 0.42 0.09 0.04 0.01 0.04 - 0.00 0.14 0.00 0.14 0.10 0.13 + 0.03 0.18 0.04 0.11 0.08 0.11 + 0.03 0.13 0.04 0.00 0.00 0.03 unch 0.00 0.04 0.03 0.04 0.03 0.04 + 0.02 0.12 0.03 0.40 0.35 0.36 - 0.03 0.79 0.01 0.52 0.47 0.48 - 0.05 0.90 0.19 0.05 0.05 0.05 unch 0.00 0.17 0.05 0.05 0.04 0.05 + 0.01 0.10 0.04 0.02 0.02 0.02 + 0.00 0.08 0.02 0.10 0.00 0.10 unch 0.00 0.25 0.09 0.07 0.06 0.07 unch 0.00 0.20 0.05 0.05 0.05 0.05 unch 0.00 0.06 0.05 0.21 0.18 0.21 + 0.02 0.27 0.15 0.30 0.25 0.30 unch 0.00 0.37 0.14 1.55 1.34 1.35 - 0.15 3.98 1.06 1.15 1.13 1.13 unch 0.00 1.15 0.08 0.38 0.33 0.36 + 0.02 0.45 0.25 0.28 0.25 0.26 - 0.00 0.36 0.19 0.06 0.05 0.05 - 0.01 0.18 0.03 0.09 0.07 0.07 - 0.02 0.17 0.05 0.05 0.04 0.05 - 0.00 0.06 0.02 0.07 0.06 0.06 - 0.01 0.08 0.03 0.08 0.07 0.08 + 0.01 0.18 0.06 0.00 0.00 0.37 unch 0.00 0.71 0.06 0.39 0.37 0.39 + 0.02 0.90 0.23 0.05 0.05 0.05 unch 0.00 0.12 0.05 0.00 0.00 0.01 unch 0.00 0.04 0.01 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.04 0.00 0.04 unch 0.00 0.08 0.03 0.11 0.11 0.11 unch 0.00 0.17 0.06 0.08 0.08 0.08 + 0.02 0.13 0.03 0.03 0.03 0.03 - 0.01 0.17 0.02 0.15 0.14 0.14 - 0.02 0.35 0.08 0.11 0.11 0.11 unch 0.00 0.19 0.05 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.90 0.85 0.85 - 0.06 1.10 0.15 0.66 0.65 0.65 unch 0.00 0.77 0.01 0.08 0.06 0.07 - 0.01 0.32 0.04 0.06 0.06 0.06 unch 0.00 0.24 0.05 0.62 0.55 0.57 - 0.02 1.48 0.48 0.07 0.06 0.06 - 0.01 0.19 0.06 0.04 0.04 0.04 - 0.01 0.15 0.04 0.31 0.31 0.31 unch 0.00 0.44 0.30 0.42 0.40 0.42 unch 0.00 0.63 0.35 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.03 0.02 0.03 unch 0.00 0.04 0.02 0.05 0.04 0.05 unch 0.00 0.17 0.03 0.09 0.09 0.09 unch 0.00 0.20 0.07 0.12 0.11 0.12 unch 0.00 0.23 0.11 0.05 0.00 0.04 - 0.01 0.10 0.04 0.17 0.15 0.16 + 0.01 0.24 0.12 0.04 0.03 0.03 unch 0.00 0.13 0.03 0.02 0.01 0.02 - 0.01 0.03 0.01 0.10 0.09 0.09 unch 0.00 0.40 0.08 0.10 0.09 0.09 - 0.01 0.60 0.09 0.14 0.11 0.13 unch 0.00 0.76 0.11 2.03 1.99 1.99 - 0.04 2.96 1.40 0.71 0.30 0.51 unch 0.00 1.00 0.04 0.04 0.03 0.03 unch 0.00 0.16 0.01 0.05 0.04 0.04 - 0.01 0.20 0.04 7.15 6.68 6.86 + 0.11 8.21 4.76 0.03 0.03 0.03 - 0.01 0.05 0.02 0.09 0.07 0.07 - 0.02 0.20 0.06 0.02 0.02 0.02 - 0.01 0.04 0.01 0.18 0.12 0.12 - 0.03 0.20 0.01 0.20 0.17 0.17 - 0.03 0.27 0.11 0.27 0.24 0.26 unch 0.00 0.37 0.22 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.01 0.00 0.01 unch 0.00 0.02 0.01 0.12 0.12 0.12 unch 0.00 0.13 0.12 0.17 0.00 0.13 - 0.04 0.22 0.17 0.16 0.00 0.15 - 0.03 0.23 0.14 0.42 0.31 0.39 + 0.06 1.05 0.25 0.32 0.23 0.29 + 0.05 0.79 0.19 0.09 0.09 0.09 + 0.00 0.15 0.08 0.13 0.11 0.12 - 0.02 0.19 0.10 0.22 0.17 0.22 + 0.03 0.25 0.10 0.15 0.15 0.15 - 0.01 0.17 0.10 1.55 1.35 1.47 + 0.08 1.55 0.89 1.14 1.05 1.10 + 0.03 1.15 0.70 0.06 0.05 0.05 unch 0.00 0.12 0.04 0.18 0.16 0.16 - 0.01 0.32 0.14 1.85 1.65 1.72 - 0.12 2.72 1.10 2.44 2.15 2.30 - 0.10 3.47 1.51 119.86 115.92 117.58 - 0.79 131.08 100.22 0.06 0.00 0.06 + 0.02 0.07 0.04 0.03 0.03 0.03 - 0.00 0.12 0.01 0.05 0.04 0.05 unch 0.00 0.32 0.03 0.06 0.00 0.06 - 0.01 0.15 0.05 1.78 1.65 1.70 + 0.04 3.19 1.46 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.23 0.23 0.23 unch 0.00 0.32 0.19 0.08 0.08 0.08 + 0.01 0.14 0.05 0.15 0.14 0.14 - 0.01 0.30 0.10 0.04 0.03 0.04 + 0.01 0.13 0.03 0.03 0.00 0.02 + 0.00 0.09 0.01 0.08 0.07 0.08 + 0.01 0.14 0.07 12.26 10.41 11.83 + 1.30 13.10 6.30 0.13 0.00 0.13 unch 0.00 0.90 0.11 0.07 0.06 0.07 + 0.00 0.10 0.05 0.47 0.36 0.43 + 0.05 4.40 0.26 0.04 0.04 0.04 unch 0.00 0.15 0.02 0.06 0.06 0.06 unch 0.00 0.06 0.01 0.07 0.07 0.07 unch 0.00 0.14 0.04 0.05 0.05 0.05 unch 0.00 0.12 0.04 0.41 0.37 0.38 - 0.03 2.02 0.31 0.31 0.28 0.29 - 0.03 1.58 0.21 4.46 3.94 4.18 - 0.13 14.00 3.27 0.14 0.09 0.12 unch 0.00 0.40 0.09 0.11 0.07 0.10 + 0.00 0.32 0.06

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Cobalt Pwr Grp* O 147 11525 Coeur Mng* N Colibri Res* O 8 Colibri Res V 443 V 65 Colombia Crest O 0 Colombia Crest* Colonial Coal V 169 Colorado Res V 278 O 243 Colorado Res* 220 Columbus Gold T O 272 Columbus Gold* Comet Inds V 18 V 386 Commander Res O 126 Commerce Res* V 686 Commerce Res V 79 Compass Gold X 8316 Comstock Mng* V 340 Comstock Mtls Comstock Mtls * O 122 Condor Gold T 42 Condor Res V 201 Condor Res* O 294 O 6 Confedertn Ml* V 34 Confedertn Mls V 97 Conquest Res V 331 Cons Woodjam CONSOL Coal Rs* N 271 CONSOL Energy* N 27747 N 1058 CONSOL Energy* O 75 Constantine Mt* V 74 Constantine Mt O 9 Contact Gold* Contact Gold V 404 O 74 Contintl Gold* Contintl Gold T 1186 Contintl Prec V 4 Contintl Prec* O 5 160 Copper Fox Mtl V 18 Copper Fox Mtl* O 129 Copper Lake Rs V Copper Mtn Mng T 1057 56 Copper Mtn Mng* O 0 Copper North M* O 258 Copper North M V Copper One V 317 422 Copper Reef Mg Copperbank Res 72 O 55 Copperbank Res* 82 Coral Gold * O Coral Gold V 83 V 376 Cordoba Mnls O 199 Cordoba Mnls* Core Gold V 133 Core Gold* O 27 Core Lithium* O 0 V 779 Cornerstone Ca O 154 Cornerstone Ca* Coro Mining T 1401 Corsa Coal V 72 13 Corsa Coal * O Corvus Gold* O 111 Corvus Gold T 346 CR Capital V 86 Crest Resource 115 Critical Elem V 340 Critical Elem* O 40 V 253 CROPS O 24 Crown Mining* Crown Mining V 269 Cruz Cobalt V 210 Cruz Cobalt* O 67 Crystal Lake V 247 Crystal Lake* O 28 Crystal Peak* O 819 Crystal Peak V 139 O 0 CTGX Mining* 17 Currie Rose Rs V 1 Currie Rose Rs* O 5 CWN M’g Acq V Cypress Dev* O 84 Cypress Dev V 545

0.02 0.01 0.02 - 0.00 0.20 0.01 3.80 5.20 4.85 5.04 - 0.02 8.89 0.01 0.03 0.03 0.03 + 0.00 0.06 0.03 unch 0.00 0.10 0.05 0.04 0.05 0.11 0.06 0.00 0.17 + 0.03 1.20 0.01 unch 0.00 0.10 0.00 0.00 0.03 0.11 0.50 0.47 0.47 + 0.01 0.58 0.05 unch 0.00 0.19 0.06 0.06 0.06 0.03 0.05 0.04 0.05 - 0.00 0.15 0.26 0.23 0.25 + 0.02 0.14 0.19 0.17 0.19 + 0.00 0.40 2.60 unch 0.00 3.60 3.00 3.00 3.00 0.07 unch 0.00 0.25 0.10 0.09 0.10 0.04 0.05 0.04 0.04 - 0.01 0.07 0.05 0.07 0.06 0.06 - 0.02 0.09 0.11 0.14 0.12 0.14 + 0.01 0.74 0.12 0.18 0.14 0.15 - 0.03 0.40 0.03 0.05 0.04 0.05 - 0.01 0.08 0.04 0.04 0.04 - 0.00 0.07 0.01 0.44 0.69 0.52 0.54 - 0.15 1.09 0.05 0.07 0.06 0.07 + 0.01 0.12 0.04 0.06 0.04 0.06 + 0.00 0.09 0.16 0.19 0.19 0.19 + 0.01 0.36 0.20 0.28 0.20 0.27 - 0.01 0.50 0.01 unch 0.00 0.07 0.02 0.02 0.02 0.03 0.07 0.05 0.07 + 0.01 0.07 19.47 17.22 17.38 - 1.31 21.13 13.40 11.27 9.73 9.78 - 1.38 18.37 9.94 26.62 37.40 32.81 33.23 - 1.62 48.12 0.12 0.49 0.00 0.38 - 0.01 0.65 0.39 0.60 0.47 0.52 + 0.04 0.84 0.20 0.25 0.23 0.25 + 0.02 0.38 0.27 0.33 0.30 0.31 - 0.01 0.50 1.33 1.76 1.58 1.58 - 0.18 3.20 1.76 2.33 2.10 2.11 - 0.18 4.01 0.30 unch 0.00 0.46 0.36 0.36 0.36 0.23 unch 0.00 0.34 0.27 0.26 0.26 0.13 0.12 0.12 unch 0.00 0.13 0.08 0.09 0.08 0.09 - 0.00 0.10 0.06 0.02 0.02 0.02 unch 0.00 0.06 0.01 0.88 0.81 0.82 - 0.04 1.45 0.65 0.67 0.61 0.61 - 0.05 1.29 0.48 0.00 0.00 0.02 unch 0.00 0.05 0.02 0.04 0.04 0.04 unch 0.00 0.06 0.04 0.10 0.17 0.15 0.16 - 0.01 0.18 0.03 0.02 0.03 + 0.01 0.03 0.02 0.04 0.08 0.00 0.07 - 0.01 0.12 0.03 0.06 0.05 0.05 + 0.00 0.09 0.28 0.27 0.27 - 0.02 0.34 0.16 0.32 0.38 0.37 0.37 - 0.01 0.44 0.10 unch 0.00 0.32 0.15 0.13 0.13 0.07 0.11 0.10 0.10 + 0.01 0.26 0.19 0.28 0.26 0.28 + 0.01 0.35 0.14 0.22 0.20 0.20 - 0.02 0.34 0.10 unch 0.00 0.99 0.35 0.00 0.35 0.14 0.34 0.32 0.33 + 0.01 0.39 0.03 0.26 0.24 0.24 - 0.01 0.28 0.05 unch 0.00 0.16 0.06 0.06 0.06 0.61 0.71 0.63 0.64 - 0.03 2.05 0.49 0.47 0.49 - 0.02 1.61 0.37 1.10 1.73 1.53 1.58 - 0.16 2.72 1.40 2.27 2.05 2.09 - 0.17 3.39 0.02 unch 0.00 0.15 0.05 0.05 0.05 0.10 unch 0.00 0.15 0.11 0.10 0.10 0.65 0.77 0.70 0.73 + 0.02 1.42 0.48 0.57 0.52 0.52 - 0.04 1.12 0.03 0.04 0.03 0.03 - 0.01 0.12 0.06 unch 0.00 0.21 0.07 0.07 0.07 0.07 0.11 0.08 0.11 + 0.02 0.28 0.05 unch 0.00 0.39 0.06 0.05 0.06 0.03 0.04 0.04 0.04 - 0.00 0.31 0.27 0.37 0.32 0.34 - 0.02 1.12 0.19 0.27 0.22 0.27 + 0.05 0.83 0.12 0.15 0.13 0.14 + 0.01 0.34 0.16 0.18 0.18 0.18 + 0.02 0.45 0.10 unch 0.00 0.25 0.00 0.00 0.10 0.06 0.00 0.06 - 0.01 0.20 0.05 0.04 0.03 0.03 - 0.00 0.07 0.03 0.05 0.05 0.05 unch 0.00 0.25 0.03 0.13 0.17 0.15 0.16 - 0.01 0.34 0.16 0.22 0.20 0.21 - 0.01 0.43

Dajin Res V 192 Dajin Res* O 265 Dakota Ter Res* O 571 Daleco Res* O 8 O 0 Damara Gold* Danakali* O 53 Debut Dmds 63 Decade Res V 1457 Decade Res* O 1359 O 10 Declan Cobalt* Declan Cobalt 422 V 14 Deep-South Res DeepRock Min 2 V 332 Defense Metals Defiance Silvr V 347 O 152 Defiance Silvr* Delrand Res V 163 Delrey Metals 188 T 1656 Denison Mines X 3253 Denison Mines* Desert Gold* O 0 Desert Gold V 28 Desert Lion* O 36 Desert Lion V 234 351 Desert Mtn Egy V Detour Gold T 2680 O 27 Diamante Min* Diamcor Mng V 193 O 70 Diamcor Mng* O 1798 Diamond Disc* V 33 Diamond Fields O 34 Diamond Fields* Dios Expl V 43 V 99 Discovery Met O 52 Discovery Met* 67718 O Discovery Mnls* V 68 Discovery-Corp District Cop V 823 Ditem Explor* O 14 DNI Metals 325 DNI Metals* O 288 O 49 Dolat Ventures* 42 Dolly Vard Sil* O 26 Dolly Vard Sil V O 9 Doubleview Cap* V 832 Doubleview Cap DRDGOLD* N 231 67 Duncan Park H V Dundee Prec Mt T 1873 O 50 Dunnedin Vent* Durango Res V 359 Durango Res* O 300 V 55 DV Resources 92 Dynacor Gld Mn T 11 Dynacor Gld Mn* O O 3 DynaResource* Dynasty Gold V 65 O 19 Dynasty Gold* E3 Metals V 122 V 15 Eagle Graphite O 3 Eagle Graphite* Eagle Plains V 247 59 V East Africa 19 East Africa * O 86 East Asia Mnls* O 550 East Asia Mnls V Eastern Platin T 54 O 1 Eastern Platin* Eastern Zinc 3 Eastfield Res V 358 O 241 Eastmain Res* Eastmain Res T 1799 28 Eco Oro Mnls Eco Oro Mnls* O 100 eCobalt Solns T 982 O 869 eCobalt Solns* V 22 Edgewater Expl O 25 Edison Cobalt* Edison Cobalt V 303 El Capitan Prc* O 1050 1 El Nino Vent* O 246 El Nino Vent V 291 Elcora Adv Mat V Elcora Res* O 381 13920 N Eldorado Gold*

0.04 0.07 0.06 0.06 - 0.01 0.17 0.03 0.05 0.04 0.05 + 0.00 0.14 0.08 0.05 0.07 + 0.02 0.19 0.03 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.03 unch 0.00 0.06 0.00 0.00 0.03 0.44 0.57 0.51 0.52 - 0.03 0.69 0.01 unch 0.00 0.03 0.01 0.00 0.01 0.03 0.04 0.03 0.03 - 0.01 0.10 0.02 unch 0.00 0.07 0.02 0.02 0.02 0.12 unch 0.00 0.30 0.16 0.16 0.16 0.16 0.21 0.17 0.21 + 0.02 0.42 0.06 0.09 0.00 0.09 - 0.01 0.45 0.06 unch 0.00 0.10 0.00 0.00 0.07 0.12 0.21 0.18 0.18 - 0.03 0.25 0.17 0.23 0.20 0.23 + 0.01 0.44 0.12 0.18 0.16 0.18 + 0.02 0.35 0.25 0.38 0.29 0.38 - 0.01 1.44 0.19 0.27 0.23 0.24 - 0.02 0.50 0.54 0.71 0.65 0.67 + 0.01 0.89 0.43 0.55 0.50 0.51 - 0.00 0.69 0.12 unch 0.00 0.18 0.00 0.00 0.13 0.14 0.21 0.18 0.19 + 0.02 0.30 0.05 0.12 0.11 0.11 - 0.01 1.07 0.04 0.16 0.14 0.16 + 0.01 2.35 0.27 0.22 0.24 + 0.02 0.27 0.10 13.24 12.35 13.07 + 0.27 15.40 9.11 0.02 0.05 0.04 0.05 - 0.00 0.24 0.22 0.26 0.22 0.23 - 0.03 0.50 0.11 0.19 0.17 0.18 - 0.02 0.41 0.00 0.00 0.00 0.00 + 0.00 0.00 0.07 0.11 0.08 0.08 - 0.03 0.15 0.04 0.09 0.06 0.09 + 0.03 0.09 0.05 0.08 0.07 0.07 - 0.01 0.19 0.17 unch 0.00 0.45 0.20 0.19 0.20 0.15 unch 0.00 0.32 0.15 0.15 0.15 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.01 unch 0.00 0.03 0.01 0.01 0.01 0.03 0.04 0.03 0.03 - 0.01 0.21 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.04 unch 0.00 0.11 0.07 0.06 0.06 0.03 0.06 0.04 0.05 - 0.00 0.09 0.10 0.38 0.26 0.31 - 0.07 4.10 0.32 0.29 0.31 - 0.01 0.68 0.22 0.42 0.39 0.42 + 0.03 0.85 0.29 0.07 unch 0.00 0.09 0.12 0.12 0.12 0.07 0.16 0.14 0.14 + 0.01 0.16 1.76 2.38 2.18 2.27 + 0.03 3.15 0.50 0.26 0.27 + 0.07 0.60 0.20 4.44 4.11 4.30 + 0.05 4.44 2.56 0.05 0.06 0.05 0.06 + 0.00 0.26 0.04 0.09 0.08 0.08 - 0.01 0.10 0.04 unch 0.00 0.07 0.07 0.07 0.07 0.08 unch 0.00 0.50 0.08 0.08 0.08 1.74 1.62 1.74 + 0.04 2.18 1.41 1.30 1.25 1.29 - 0.01 1.85 1.02 0.75 unch 0.00 1.25 1.00 0.00 1.00 0.10 unch 0.00 0.27 0.13 0.11 0.13 0.07 0.09 0.07 0.07 - 0.01 0.22 0.29 0.32 0.23 0.29 - 0.03 0.58 0.07 unch 0.00 0.32 0.08 0.00 0.08 0.01 unch 0.00 0.18 0.07 0.07 0.07 0.08 0.11 0.10 0.11 + 0.01 0.29 0.20 0.18 0.19 - 0.01 0.30 0.14 0.13 0.13 0.13 + 0.00 0.24 0.10 0.05 0.03 0.05 + 0.00 0.08 0.02 0.05 0.05 0.05 - 0.01 0.10 0.03 0.17 0.26 0.00 0.22 + 0.01 0.50 0.12 0.15 0.15 0.15 + 0.00 0.37 0.09 unch 0.00 0.56 0.09 0.09 0.09 0.03 0.04 0.04 0.04 + 0.01 0.06 0.10 0.12 0.10 0.12 + 0.00 0.23 0.14 0.16 0.14 0.15 + 0.01 0.29 0.19 0.00 0.19 + 0.01 0.39 0.15 0.14 0.14 0.14 unch 0.00 0.77 0.00 0.44 0.50 0.46 0.47 - 0.01 1.74 0.32 0.38 0.34 0.36 - 0.01 1.38 0.10 unch 0.00 0.18 0.10 0.10 0.10 0.04 unch 0.00 0.19 0.04 0.04 0.04 0.05 unch 0.00 0.26 0.06 0.06 0.06 0.02 0.01 0.02 + 0.00 0.05 0.00 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.04 0.04 0.04 unch 0.00 0.06 0.03 0.11 0.08 0.09 + 0.01 0.40 0.06 0.05 0.08 0.06 0.07 + 0.01 0.32 2.52 4.40 3.80 4.04 + 0.06 6.40

D-F

2019-02-12 12:03 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / FEBRUARY 18â&#x20AC;&#x201C;MARCH 3, 2019

Week

12-month

Exc Volume High Low Last Change High Low

Eldorado Gold T 6854 5.80 5.04 5.37 + 0.15 Eloro Res* O 4 0.28 0.28 0.28 unch 0.00 0.70 0.27 0.33 Eloro Res V 75 0.38 0.34 0.37 - 0.01 1.05 Ely Gold Royal V 140 0.16 0.15 0.16 + 0.01 0.17 0.09 0.12 0.11 0.11 - 0.00 0.13 0.07 Ely Gold Royal* O 154 Elysee Dev * O 11 0.33 0.00 0.29 - 0.02 0.32 0.23 Elysee Dev V 112 0.42 0.00 0.39 unch 0.00 0.42 0.31 0.02 Emerita Res V 302 0.03 0.02 0.03 + 0.01 0.14 Emgold Mng* O 43 0.07 0.00 0.06 + 0.02 0.15 0.03 Emgold Mng V 651 0.11 0.07 0.10 + 0.03 0.22 0.05 O 2 0.13 0.13 0.13 unch 0.00 0.15 0.13 Empire Metals* Empire Metals V 2 0.00 0.00 0.17 unch 0.00 0.24 0.11 0.84 EMX Royalty* X 301 1.16 1.13 1.14 - 0.00 1.47 EMX Royalty V 69 1.52 1.49 1.51 + 0.01 1.80 1.01 Encanto Potash* O 115 0.13 0.11 0.11 - 0.01 0.22 0.02 Encanto Potash V 179 0.17 0.15 0.17 unch 0.00 0.50 0.14 V 1502 0.13 0.12 0.13 + 0.02 0.14 0.05 EnCore Energy T 1147 23.47 21.31 21.57 - 0.69 25.06 16.34 Endeavour Mng Endeavour Mng* O 45 17.68 16.11 16.29 - 0.66 19.50 12.38 Endeavr Silver* N 3482 2.34 2.17 2.24 unch 0.00 3.35 1.76 Endeavr Silver T 785 3.08 2.89 2.98 + 0.04 4.40 2.27 O 2 0.03 0.03 0.03 unch 0.00 0.06 0.03 Endurance Gold* Endurance Gold V 124 0.04 0.03 0.03 - 0.01 0.09 0.03 Energy Fuels* X 5265 3.43 2.89 3.00 + 0.07 4.09 1.49 1.92 Energy Fuels T 1541 4.53 3.79 3.99 + 0.17 5.38 Enforcer Gold* O 107 0.04 0.04 0.04 unch 0.00 0.07 0.02 Enforcer Gold V 276 0.05 0.04 0.05 unch 0.00 0.27 0.04 Engineer Gold V 69 0.10 0.09 0.09 - 0.02 0.12 0.05 Engold Mines V 156 0.11 0.11 0.11 - 0.02 0.28 0.09 O 117 0.08 0.08 0.08 - 0.02 0.21 0.08 Engold Mines* Ensurge* O 10 0.04 0.02 0.04 unch 0.00 0.09 0.02 Entree Res* X 184 0.46 0.43 0.44 + 0.01 0.48 0.33 Entree Res T 557 0.61 0.56 0.58 + 0.02 0.61 0.42 ePower Metals* O 15 0.19 0.16 0.16 unch 0.00 0.23 0.12 ePower Metals V 222 0.20 0.15 0.20 + 0.04 0.53 0.14 Equinox Gold V 2139 1.14 1.07 1.13 + 0.05 1.26 0.85 Equitorial Ex V 686 0.04 0.03 0.03 - 0.01 0.11 0.02 Equitorial Ex* O 321 0.02 0.02 0.02 unch 0.00 0.08 0.02 Erdene Res Dev* O 120 0.18 0.16 0.16 - 0.01 0.40 0.14 238 0.23 0.22 0.22 unch 0.00 0.53 0.18 Erdene Res Dev T Erin Ventures* O 2 0.10 0.10 0.10 unch 0.00 0.23 0.08 Erin Ventures V 124 0.14 0.13 0.13 + 0.01 0.33 0.09 Ero Copper T 1058 13.54 12.50 12.80 + 0.06 13.54 6.87 Ero Copper* O 34 10.15 0.00 9.67 - 0.13 10.15 5.75 0 0.00 0.00 0.05 unch 0.00 0.11 0.05 Eros Res Corp* O Eros Res Corp V 0 0.00 0.00 0.07 unch 0.00 0.15 0.07 Eros Res Corp V 0 0.00 0.00 0.07 unch 0.00 0.15 0.07 Eskay Mng V 310 0.09 0.07 0.08 unch 0.00 0.38 0.07 Essex Minerals V 164 0.06 0.04 0.04 - 0.02 0.20 0.03 Ethos Gold* O 164 0.21 0.15 0.18 + 0.01 0.25 0.09 Ethos Gold V 192 0.27 0.21 0.24 - 0.03 0.34 0.12 Etruscus Res 59 0.30 0.27 0.29 + 0.03 0.45 0.25 Euro Manganese V 836 0.28 0.25 0.28 + 0.01 0.44 0.15 Euro Sun Mg* O 43 0.25 0.21 0.21 - 0.07 1.40 0.21 Euro Sun Mg T 979 0.33 0.28 0.28 - 0.05 1.82 0.28 EurOmax Res T 75 0.07 0.06 0.06 - 0.01 0.27 0.02 European Elect* O 771 0.14 0.12 0.12 + 0.01 0.61 0.09 European Elect V 1094 0.19 0.16 0.16 + 0.02 0.77 0.12 European Metal* O 6350 0.00 0.00 0.00 unch 0.00 0.01 0.00 Everton Res V 489 0.03 0.03 0.03 unch 0.00 0.06 0.02 Everton Res* O 69 0.02 0.02 0.02 - 0.00 0.05 0.02 Evrim Res V 458 0.34 0.31 0.32 + 0.01 1.70 0.27 Excellon Res* O 186 0.77 0.66 0.71 - 0.02 1.56 0.44 Excellon Res T 236 1.00 0.90 0.93 - 0.01 1.92 0.59 Excelsior Mng* O 221 0.65 0.59 0.60 - 0.01 1.21 0.53 Excelsior Mng T 441 0.87 0.78 0.81 + 0.01 1.50 0.71 ExGen Res Inc V 1633 0.02 0.02 0.02 + 0.01 0.03 0.01 ExGen Res Inc* O 28 0.01 0.01 0.01 unch 0.00 0.02 0.01 Explor Res* O 147 0.02 0.01 0.01 + 0.00 0.05 0.01 unch 0.00 0.06 0.02 Explor Res V 717 0.02 0.02 0.02 Explorex Res 68 0.32 0.25 0.28 - 0.02 0.45 0.21 Explorex Res* O 15 0.22 0.20 0.20 - 0.03 0.31 0.18 Fabled Copper V 15 0.07 0.07 0.07 unch 0.00 0.09 0.04 Falco Res V 607 0.36 0.31 0.33 unch 0.00 1.00 0.28 Falco Res * O 118 0.25 0.23 0.24 unch 0.00 0.76 0.18 Falcon Gold V 558 0.04 0.04 0.04 unch 0.00 0.06 0.03 Fancamp Expl V 531 0.07 0.06 0.07 + 0.01 0.13 0.04 Far Res 2240 0.14 0.13 0.14 + 0.01 0.63 0.06 Far Res* O 151 0.11 0.09 0.10 - 0.00 0.88 0.04 O 1 0.03 0.03 0.03 - 0.00 0.16 0.02 Fengro Industr* Fengro Industr V 552 0.04 0.03 0.03 - 0.02 0.26 0.03 Fidelity Min V 1071 0.10 0.07 0.09 + 0.01 0.11 0.03 Fidelity Min* O 7 0.05 0.05 0.05 + 0.01 0.05 0.01 Filo Mg Corp * O 1 1.65 1.65 1.65 unch 0.00 1.65 1.65 Filo Mg Corp V 111 2.30 2.20 2.20 - 0.08 2.65 2.00 Finlay Minrls V 122 0.05 0.05 0.05 unch 0.00 0.06 0.02 Fiore Gold* O 176 0.27 0.23 0.26 + 0.01 0.63 0.16 Fiore Gold V 234 0.36 0.31 0.35 + 0.03 0.79 0.21 Fire River Gol* O 2 0.40 0.00 0.40 + 0.40 2.41 0.00 unch 0.00 0.06 0.02 Firebird Res V 0 0.00 0.00 0.02 FireFox Gold V 52 0.28 0.00 0.28 + 0.06 0.39 0.21 Firestone Vent V 104 0.07 0.05 0.07 + 0.01 0.18 0.04 Fireweed Zinc V 99 0.90 0.83 0.85 - 0.01 2.14 0.74 Fireweed Zinc* O 14 0.66 0.64 0.64 - 0.00 1.67 0.54 O 37 0.03 0.02 0.02 unch 0.00 0.10 0.01 Firma Holdings* First Cobalt * O 353 0.14 0.12 0.12 - 0.02 0.98 0.11 First Cobalt V 1230 0.18 0.16 0.16 - 0.02 1.24 0.15 First Colombia* O 6300 0.00 0.00 0.00 + 0.00 0.00 0.00 First Division 132 0.35 0.29 0.35 + 0.06 0.35 0.15 First Energy V 21 0.20 0.00 0.20 unch 0.00 0.43 0.10 First Energy* O 0 0.00 0.00 0.16 unch 0.00 0.32 0.10 First Majestic* N 12458 6.22 5.81 6.03 + 0.03 8.48 4.59 First Majestic T 2205 8.19 7.63 8.01 + 0.16 11.09 6.12 First Mexican V 198 0.02 0.02 0.02 unch 0.00 0.07 0.01 0.36 0.33 0.35 + 0.01 0.55 0.21 First Mg Fin T 1028 First Mg Fin * O 1068 0.28 0.24 0.27 + 0.00 0.44 0.16 First Point* O 61 0.12 0.12 0.12 - 0.00 0.13 0.06 First Quantum T 15548 14.97 13.54 13.72 - 1.10 23.05 9.45 First Vanadium V 341 0.68 0.60 0.63 + 0.03 1.96 0.27 First Vanadium* O 232 0.51 0.45 0.47 - 0.00 1.60 0.22 Fission 3.0 V 2083 0.15 0.13 0.14 - 0.01 0.30 0.08 0.02 Fission 3.0* O 257 0.12 0.10 0.11 + 0.01 0.22 Fission Uran* O 993 0.44 0.40 0.40 - 0.02 0.65 0.35 Fission Uran T 1950 0.57 0.52 0.52 - 0.01 0.80 0.49 266 0.06 0.06 0.06 + 0.01 0.24 0.05 Five Star Diam V Fjordland Exp* O 5 0.07 0.07 0.07 unch 0.00 0.24 0.06 0.08 Fjordland Exp V 48 0.09 0.08 0.08 - 0.01 0.33 Focus Graphite* O 1845 0.02 0.02 0.02 + 0.00 0.06 0.01 Focus Graphite V 1167 0.03 0.02 0.03 + 0.01 0.08 0.02 Foran Mng V 120 0.32 0.30 0.32 + 0.02 0.60 0.23 0.09 Forsys Metals T 615 0.22 0.19 0.20 - 0.01 0.32 Fort St J Nick V 102 0.28 0.12 0.17 + 0.05 0.59 0.12 Fort St James* O 2 0.21 0.12 0.12 - 0.09 0.23 0.12 Fortescue Met* O 120 4.34 4.06 4.27 + 0.10 4.34 2.53 Fortuna Silvr T 1162 5.33 5.08 5.17 - 0.04 7.78 4.22 Fortuna Silvr* N 3857 4.04 3.82 3.90 - 0.07 6.08 3.16 unch 0.00 0.45 0.19 Fortune Bay V 152 0.21 0.00 0.20 Fortune Bay* O 28 0.16 0.00 0.15 - 0.00 0.32 0.10 Fortune Mnrls* O 157 0.10 0.08 0.09 - 0.00 0.25 0.05 0.07 Fortune Mnrls T 1074 0.13 0.11 0.11 - 0.01 0.32 Forum Energy V 880 0.04 0.04 0.04 - 0.01 0.09 0.04 Forum Energy* O 3 0.04 0.04 0.04 unch 0.00 0.05 0.02 42 0.07 0.00 0.06 - 0.01 0.09 0.05 Fox River Res FPX Nickel V 187 0.18 0.16 0.17 + 0.02 0.18 0.08 N 2064 76.99 74.56 75.42 - 1.44 77.92 58.26 Franco-Nevada* Franco-Nevada T 1734 101.28 99.04 99.98 - 0.58 102.44 76.53 Franklin Mng* O 22 0.00 0.00 0.00 + 0.00 0.00 0.00 Freedom Egy V 0 0.00 0.00 0.02 unch 0.00 0.09 0.02 Freegold Vent T 59 0.07 0.00 0.07 unch 0.00 0.13 0.06 Freeport McMoR* N 106803 12.14 11.40 11.61 + 0.10 19.74 9.60 Freeport Res V 317 0.09 0.07 0.09 + 0.01 0.10 0.05 0.09 Fremont Gold V 248 0.19 0.17 0.17 - 0.01 0.22 Fremont Gold* O 102 0.15 0.14 0.14 + 0.00 0.18 0.07 Fresnillo plc* O 10 12.90 12.41 12.41 - 0.53 19.24 9.35 Frontier Lith V 203 0.44 0.37 0.38 - 0.05 0.85 0.30 Frontline Gold V 750 0.02 0.02 0.02 unch 0.00 0.03 0.01 Full Metal Mnl* O 3 0.00 0.00 0.00 unch 0.00 0.10 0.00 Fura Gems V 432 0.46 0.40 0.42 - 0.03 0.86 0.28 Fura Gems* O 27 0.33 0.31 0.32 - 0.02 0.69 0.20

G-H Gabriel Res V 206 Gabriel Res* O 10 Gainey Capital V 4325 Galane Gold * O 5 Galane Gold V 490 Galantas Gold V 197 Galore Res V 211 Galway Gold * O 0 Galway Gold V 3 Galway Mtls* O 32 Galway Mtls V 422 GAR Limited 6099 Garibaldi Res V 545 Garibaldi Res * O 102 Gatling Explor V 913 Gatling Explor* O 19 General Moly T 8 General Moly* X 626 Generation Min* O 6 Generation Min 12 Generic Gold 39 Genesis Mtls* O 235 Genesis Mtls V 1053

20-23_FEB18_StockTables.indd 21

0.40 0.36 0.39 - 0.01 0.45 0.29 0.29 0.27 0.29 + 0.01 0.32 0.20 0.10 0.08 0.09 + 0.02 0.11 0.04 0.04 0.04 0.04 unch 0.00 0.06 0.03 0.05 0.05 0.05 - 0.01 0.07 0.04 0.10 0.09 0.09 unch 0.00 0.15 0.07 0.02 0.02 0.02 - 0.01 0.05 0.02 0.00 0.00 0.08 unch 0.00 0.12 0.07 0.12 0.00 0.12 + 0.01 0.34 0.10 0.21 0.19 0.20 - 0.03 0.23 0.10 0.29 0.25 0.28 - 0.01 0.30 0.13 0.12 0.10 0.11 unch 0.00 0.65 0.07 1.17 1.00 1.00 - 0.16 3.60 0.86 0.88 0.76 0.78 - 0.10 2.82 0.65 0.34 0.29 0.34 + 0.03 0.58 0.13 0.25 0.21 0.25 + 0.00 0.31 0.21 0.35 0.30 0.30 unch 0.00 0.63 0.22 0.27 0.22 0.23 unch 0.00 0.46 0.16 0.07 0.07 0.07 unch 0.00 0.11 0.03 0.10 0.10 0.10 unch 0.00 0.20 0.08 0.04 0.04 0.04 - 0.01 0.32 0.03 0.07 0.06 0.06 - 0.01 0.09 0.04 0.11 0.08 0.09 + 0.01 0.12 0.05

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Genius Metals 517 V 753 Gensource Pot Gentor Res V 265 Geomega Res V 816 855 Gespeg Cop Res V Getchell Gold 215 Getty Copper V 75 V 1245 GFG Resources GFG Resources* O 174 GGL Res* O 0 GGL Res V 8 GGX Gold V 718 GGX Gold* O 105 Giga Metals* O 122 Giga Metals V 126 Gitennes Expl V 144 Giyani Gold V 3698 Giyani Gold* O 146 Glacier Lake* O 250 Glacier Lake V 1245 Gldn Predator* O 322 Gldn Predator V 668 74 Glen Eagle Res V Glencore Plc* O 998 V 400 Global Atomic Global Atomic* O 112 Global Energy* O 122 Global Energy V 195 Global Gold* O 0 Global Li-Ion* O 65 Global Li-Ion 1317 Global Vanad V 260 GlobalMin Vent* O 1 Globex Mng* O 18 Globex Mng T 710 GMV Minerals V 5 GMV Minerals* O 14 GNCC Capital* O 23800 Go Cobalt 352 GobiMin V 4 Godâ&#x20AC;&#x2122;s Lake Res 19 GoGold Res T 368 Gold Dynamics* O 6 Gold Fields* O 3 25400 Gold Fields* N Gold Finder Ex V 74 Gold Finder Ex* O 0 Gold Lakes* O 14 Gold Reserve* O 67 Gold Reserve V 16 Gold Resource* X 1746 Gold Rush Cari V 3005 Gold Std Vents T 711 Gold Std Vents* X 1047 V 0 Goldbank Mng Goldcliff Res* O 65 Goldcliff Res V 9 Goldcorp T 11485 Goldcorp* N 34084 Golden Arrow V 853 Golden Arrow* O 345 Golden Band* O 45 Golden Cariboo V 1 Golden Dawn Ml V 2820 Golden Dawn Ml* O 76 Golden Goliath* O 87 Golden Goliath V 979 Golden Harp* O 6 Golden Harp V 6 Golden Hope V 157 Golden Hope* O 5 Golden Mnls* X 834 Golden Mnls T 72 Golden Pursuit V 263 Golden Queen T 3531 Golden Queen* O 1978 Golden Ridge V 805 Golden Secret V 1327 Golden Share V 16 Golden Star* X 1209 Golden Star T 87 Golden Tag V 26 Golden Valley* O 289 Golden Valley V 724 Goldex Res V 295 Goldgroup Mng T 69 Goldgroup Mng* O 61 GoldMining* O 2229 GoldMining T 1747 GoldON Res V 26 Goldplay Expl* O 48 Goldplay Expl V 530 GoldQuest Mng V 485 Goldrea Res 113 Goldrea Res* O 11 Goldrich Mng* O 444 Goldsource Min* O 140 Goldsource Min V 1247 Goldstar Mnls V 103 Goldstream Mnl V 330 Goldstrike Res V 576 GoldTrain Res 60 Goliath Res V 399 Goliath Res* O 358 Gossan Res V 47 GoviEx Uranium* O 514 V 1261 GoviEx Uranium Gowest Gold* O 54 Gowest Gold V 793 GPM Metals* O 615 GPM Metals V 42 Gran Colombia* O 213 T 873 Gran Colombia Granada Gold V 179 Granada Gold* O 72 V 138 Grande Portage Grande Portage* O 43 Granite Creek V 58 Graphite Egy* O 339 Graphite Egy 210 Graphite One* O 186 Graphite One V 252 Gratomic* O 120 Gratomic V 16365 Gray Rock Res V 50 Great Atlantic V 445 Great Bear Res V 1569 Great Bear Res* O 262 Great Lakes Gr* O 320 Great Lakes Gr V 388 Great Panther T 843 Great Panther* X 4095 Great Thunder V 650 V 69 Greatbanks Re Greatbanks Res* O 0 Green Arrow V 20 Green River 42 Green Swan Cap V 29 Green Valley M V 110 Greencastle Rs V 66 Greenland M&En* O 1838 Greenshield Ex V 1 Grenville Gold 0 Grid Metals V 947 Grid Metals* O 62 Grizzly Discvr* O 35 Grizzly Discvr V 256 Grosvenor Res V 13 Group Eleven V 94 Group Ten Mtls* O 205 Group Ten Mtls V 278 GrowMax Res* O 528 GrowMax Res V 123 GSP Resource V 22 GT Gold V 1945 GT Gold * O 70 GTA Res & Mng V 916 Guerrero Vents V 36 Guerrero Vents* O 0 Gungnir Res* O 697 Gungnir Res V 283 Gunpoint Expl V 42 Guyana Gldflds T 2114 Guyana Goldstr V 710 Guyana Goldstr* O 20 Handa Mining V 200 Handeni Gold* O 0 Hannan Metals V 23 Hannan Metals* O 9 Happy Ck Mnrls V 65 Harfang Explor* O 100 Harfang Explor V 175 N 20126 Harmony Gold* Harte Gold* O 93 Harte Gold T 3827

0.24 0.15 0.20 unch 0.00 0.25 0.12 0.11 0.10 0.10 unch 0.00 0.16 0.08 0.06 0.05 0.05 unch 0.00 0.12 0.05 0.08 0.07 0.07 - 0.01 0.20 0.07 0.04 0.03 0.04 + 0.01 0.05 0.02 0.35 0.20 0.20 + 0.01 3.60 0.13 0.03 0.03 0.03 unch 0.00 0.07 0.02 0.23 0.19 0.20 - 0.02 0.48 0.17 0.18 0.14 0.15 - 0.03 0.37 0.14 0.00 0.00 0.05 unch 0.00 0.13 0.05 0.08 0.00 0.08 unch 0.00 0.18 0.07 0.10 0.09 0.10 - 0.01 0.15 0.05 0.07 0.07 0.07 - 0.01 0.11 0.04 0.22 0.18 0.18 - 0.04 0.40 0.12 0.28 0.24 0.26 - 0.02 0.51 0.15 0.03 0.03 0.03 unch 0.00 0.10 0.03 0.26 0.12 0.25 + 0.13 0.40 0.07 0.20 0.14 0.19 + 0.08 0.31 0.06 0.01 0.01 0.01 - 0.00 0.06 0.01 0.02 0.01 0.02 unch 0.00 0.11 0.01 0.22 0.19 0.21 - 0.01 0.62 0.15 0.30 0.26 0.27 - 0.02 0.78 0.20 0.14 0.12 0.13 - 0.01 0.20 0.11 7.89 7.53 7.54 - 0.45 11.40 6.72 0.36 0.34 0.35 + 0.02 0.45 0.20 0.27 0.26 0.26 - 0.01 0.31 0.16 0.04 0.04 0.04 - 0.01 0.17 0.03 0.05 0.05 0.05 - 0.01 0.22 0.04 0.00 0.00 1.30 unch 0.00 3.00 1.30 0.14 0.12 0.14 + 0.01 0.41 0.04 0.22 0.16 0.22 + 0.05 0.52 0.06 0.20 0.16 0.20 - 0.01 0.28 0.16 0.85 0.85 0.85 unch 0.00 140.00 0.55 0.24 0.21 0.24 + 0.01 0.40 0.19 0.31 0.28 0.29 unch 0.00 0.50 0.25 0.14 0.14 0.14 - 0.01 0.32 0.07 0.12 0.10 0.10 - 0.01 0.23 0.07 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.22 0.00 0.19 - 0.03 0.38 0.07 0.25 0.25 0.25 unch 0.00 0.40 0.20 1.51 1.51 1.51 unch 0.00 1.51 0.22 0.27 0.25 0.27 + 0.02 0.53 0.19 0.00 0.00 0.00 + 0.00 0.01 0.00 4.10 4.10 4.10 unch 0.00 4.10 2.40 3.93 3.53 3.62 - 0.38 4.29 2.20 0.12 0.10 0.11 + 0.02 1.28 0.06 0.00 0.00 0.06 unch 0.00 0.98 0.04 0.03 0.00 0.00 - 0.03 0.10 0.01 2.58 2.15 2.55 + 0.25 3.02 1.84 3.44 2.67 3.44 + 0.39 3.87 2.50 4.72 4.42 4.57 - 0.18 7.33 3.61 0.08 0.08 0.08 - 0.01 0.29 0.05 1.77 1.62 1.66 - 0.09 2.40 1.46 1.35 1.23 1.25 - 0.07 1.86 1.08 0.00 0.00 0.13 unch 0.00 0.21 0.07 0.05 0.04 0.05 unch 0.00 0.15 0.03 0.06 0.06 0.06 + 0.01 0.19 0.05 14.83 14.24 14.65 + 0.23 18.78 11.00 11.20 10.85 11.05 + 0.01 14.66 8.42 0.37 0.35 0.37 + 0.01 0.68 0.22 0.28 0.26 0.28 + 0.01 0.55 0.17 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.05 unch 0.00 0.11 0.03 0.07 0.05 0.06 + 0.01 0.53 0.02 0.06 0.03 0.06 + 0.03 0.31 0.02 0.02 0.01 0.02 + 0.01 0.04 0.00 0.03 0.02 0.03 + 0.01 0.06 0.02 0.08 0.08 0.08 unch 0.00 0.09 0.08 0.10 0.00 0.10 - 0.05 0.20 0.06 0.07 0.06 0.07 unch 0.00 0.11 0.06 0.06 0.06 0.06 unch 0.00 0.09 0.04 0.38 0.28 0.32 + 0.00 0.47 0.19 0.49 0.39 0.44 + 0.03 0.60 0.26 0.09 0.07 0.08 unch 0.00 0.21 0.06 0.05 0.03 0.04 - 0.01 0.24 0.03 0.04 0.02 0.03 - 0.01 0.18 0.02 0.12 0.11 0.12 + 0.01 0.54 0.08 2.53 2.10 2.30 + 0.15 4.00 1.40 0.10 0.10 0.10 - 0.01 0.29 0.09 3.88 3.65 3.79 + 0.01 4.00 2.43 5.13 4.81 5.04 + 0.15 5.15 3.24 0.06 0.05 0.06 + 0.01 0.08 0.03 0.27 0.24 0.25 + 0.04 0.27 0.16 0.36 0.30 0.34 + 0.04 0.36 0.22 0.13 0.10 0.13 + 0.01 2.56 0.08 0.06 0.05 0.05 - 0.01 0.09 0.04 0.04 0.04 0.04 - 0.00 0.07 0.03 0.82 0.69 0.80 + 0.08 1.05 0.52 1.09 0.91 1.06 + 0.13 1.31 0.71 0.17 0.16 0.17 + 0.01 0.20 0.12 0.22 0.19 0.19 - 0.01 0.22 0.12 0.30 0.25 0.25 - 0.01 0.32 0.14 0.14 0.13 0.14 unch 0.00 0.34 0.09 0.07 0.00 0.06 - 0.01 0.29 0.04 0.05 0.04 0.04 - 0.01 0.22 0.03 0.02 0.02 0.02 - 0.00 0.04 0.02 0.10 0.07 0.09 + 0.01 0.11 0.02 0.12 0.11 0.12 + 0.01 0.15 0.04 0.03 0.03 0.03 unch 0.00 0.12 0.03 0.08 0.06 0.06 - 0.01 0.18 0.04 0.06 0.05 0.06 + 0.01 0.25 0.05 0.20 0.16 0.16 - 0.04 0.40 0.11 0.06 0.06 0.06 - 0.01 0.33 0.06 0.05 0.05 0.05 unch 0.00 0.21 0.05 0.09 0.00 0.08 unch 0.00 0.12 0.05 0.12 0.10 0.11 + 0.01 0.20 0.10 0.15 0.13 0.15 + 0.02 0.26 0.13 0.04 0.04 0.04 - 0.00 0.13 0.02 0.05 0.04 0.04 unch 0.00 0.15 0.03 0.04 0.04 0.04 unch 0.00 0.05 0.02 0.04 0.04 0.04 unch 0.00 0.08 0.03 3.02 2.78 2.95 + 0.13 3.02 1.57 3.98 3.66 3.94 + 0.24 3.98 2.02 0.23 0.20 0.20 - 0.01 0.42 0.12 0.17 0.15 0.15 - 0.02 0.33 0.10 0.09 0.09 0.09 - 0.01 0.34 0.08 0.07 0.06 0.06 - 0.01 0.25 0.06 0.19 0.16 0.19 + 0.02 0.23 0.09 0.07 0.03 0.04 + 0.00 1.56 0.01 0.09 0.04 0.04 - 0.01 1.76 0.02 0.04 0.03 0.03 + 0.00 0.09 0.02 0.04 0.04 0.04 unch 0.00 0.12 0.03 0.10 0.06 0.07 - 0.03 0.20 0.06 0.12 0.08 0.09 - 0.03 0.26 0.08 0.07 0.07 0.07 unch 0.00 0.23 0.05 0.06 0.05 0.05 unch 0.00 0.15 0.04 3.77 2.64 3.68 + 0.90 3.50 0.42 2.81 2.01 2.74 + 0.54 2.65 0.34 0.03 0.01 0.02 unch 0.00 0.08 0.01 0.04 0.03 0.04 + 0.01 0.06 0.02 1.09 0.92 0.97 - 0.05 1.68 0.70 0.83 0.69 0.74 - 0.05 1.32 0.54 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.10 0.10 0.10 unch 0.00 0.55 0.04 0.00 0.00 0.01 unch 0.00 0.02 0.01 0.04 0.04 0.04 unch 0.00 0.08 0.02 0.07 0.06 0.07 unch 0.00 0.07 0.03 0.03 0.00 0.03 + 0.01 0.07 0.02 0.10 0.05 0.05 - 0.03 0.50 0.05 0.09 0.07 0.09 + 0.02 0.14 0.05 0.05 0.05 0.05 - 0.01 0.08 0.04 0.00 0.00 0.12 unch 0.00 0.15 0.11 0.00 0.00 0.38 unch 0.00 0.70 0.12 0.12 0.09 0.09 - 0.02 0.38 0.05 0.09 0.07 0.07 - 0.01 0.29 0.04 0.05 0.04 0.04 - 0.01 0.11 0.04 0.07 0.06 0.06 + 0.01 0.15 0.05 0.11 0.11 0.11 unch 0.00 0.20 0.11 0.15 0.15 0.15 unch 0.00 0.26 0.10 0.16 0.14 0.16 + 0.02 0.23 0.09 0.22 0.18 0.22 + 0.03 0.28 0.12 0.07 0.05 0.06 + 0.01 0.12 0.05 0.08 0.00 0.08 unch 0.00 0.16 0.07 0.22 0.16 0.22 + 0.02 0.26 0.16 0.76 0.61 0.71 + 0.08 2.15 0.41 0.57 0.47 0.53 + 0.05 1.62 0.31 0.03 0.02 0.02 - 0.01 0.06 0.02 0.09 0.00 0.07 unch 0.00 0.30 0.06 0.00 0.00 0.09 unch 0.00 0.09 0.09 0.06 0.05 0.06 + 0.00 0.29 0.05 0.09 0.08 0.08 unch 0.00 0.39 0.07 0.45 0.41 0.45 + 0.05 0.55 0.16 1.67 1.48 1.48 - 0.17 5.42 1.24 0.22 0.18 0.19 - 0.01 0.39 0.17 0.16 0.16 0.16 + 0.01 0.28 0.14 0.04 0.03 0.04 - 0.01 0.09 0.03 0.00 0.00 0.02 unch 0.00 0.13 0.02 0.12 0.09 0.12 + 0.03 0.31 0.05 0.09 0.06 0.09 + 0.02 0.25 0.04 0.17 0.14 0.16 + 0.02 0.23 0.13 0.16 0.16 0.16 unch 0.00 0.16 0.16 0.21 0.20 0.20 - 0.04 0.31 0.18 2.20 1.94 2.14 + 0.10 2.53 1.43 0.31 0.27 0.29 - 0.03 0.38 0.22 0.41 0.37 0.37 - 0.04 0.55 0.29

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Harvest Gold* O 588 Harvest Gold V 1312 Havilah Mining* O 7 Havilah Mining V 69 Hawkeye Gld&Di V 227 Heatherdale Rs V 88 Hecla Mining* N 15970 Helio Res V 1 Hemcare Health* O 97 Heron Res* O 4 Highbank Res V 609 Highland Copp V 369 Highland Copp* O 207 Highway 50 Gld V 64 HiHo Silver 171 HiHo Silver* O 250 Hinterland Mtl V 221 O 82 Hochschild Mg* Homeland Egy* O 205 41 Honey Badger E* O Honey Badger E V 741 T 3113 Horizonte Mnls Hornby Bay Mnl* O 15 Hornby Bay Mnl V 18 HudBay Min* N 2450 HudBay Min T 5138 Hudson Res V 356 Hudson Res* O 37 Hunt Mng* O 55 Hunt Mng V 46 65 Hut 8 Mining V Hut 8 Mining* O 28 Hybrid Mineral V 126 Hycroft Mg* O 0

0.04 0.03 0.04 - 0.01 0.08 0.03 0.06 0.04 0.05 - 0.01 0.10 0.04 0.23 0.22 0.23 + 0.02 0.35 0.18 0.31 0.29 0.31 + 0.03 0.69 0.25 0.04 0.04 0.04 - 0.01 0.11 0.04 0.03 0.00 0.03 + 0.01 0.06 0.02 2.73 2.56 2.63 - 0.01 4.15 2.17 0.00 0.00 0.08 unch 0.00 0.28 0.06 0.95 0.41 0.58 + 0.03 1.38 0.05 0.45 0.36 0.36 - 0.09 0.53 0.35 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.08 0.08 0.08 unch 0.00 0.16 0.06 0.06 0.06 0.06 - 0.00 0.13 0.04 0.21 0.17 0.20 + 0.03 0.48 0.15 0.04 0.00 0.04 + 0.01 0.14 0.02 0.01 0.01 0.01 unch 0.00 0.07 0.01 0.03 0.02 0.03 + 0.01 0.04 0.02 2.55 2.40 2.46 - 0.06 3.31 1.96 3.21 2.57 2.64 - 0.28 3.21 0.18 0.02 0.02 0.02 unch 0.00 0.16 0.02 0.04 0.03 0.04 unch 0.00 0.20 0.03 0.05 0.00 0.04 + 0.01 0.09 0.03 0.02 0.02 0.02 - 0.00 0.07 0.00 0.03 0.03 0.03 unch 0.00 0.08 0.00 6.16 5.81 5.99 + 0.01 8.85 3.44 8.12 7.63 7.95 + 0.11 11.24 4.51 0.48 0.44 0.45 - 0.01 0.59 0.35 0.36 0.33 0.35 - 0.02 0.46 0.27 0.13 0.10 0.13 + 0.01 0.38 0.09 0.18 0.16 0.18 + 0.01 0.50 0.10 1.76 1.31 1.40 - 0.17 5.00 1.06 1.29 1.05 1.11 - 0.07 3.74 0.85 0.08 0.07 0.07 - 0.01 0.55 0.06 0.00 0.00 0.02 unch 0.00 0.13 0.01

I-Minerals V 217 I-Minerals* O 24 IAMGOLD* N 19739 IAMGOLD T 7629 Iconic Mnls V 194 21 Iconic Mnls * O IDM Mining* O 165 IDM Mining V 5862 IEMR Res V 615 iMetal Res V 2751 iMetal Res* O 402 IMPACT Silver V 237 Imperial Metal* O 8 64 Imperial Metal T Imperial Mg Gr V 522 51 Inca One Gold* O Inca One Gold V 1075 2 Inception Mng * O Independence G* O 14 V 214 Independence G Indiana Res* O 0 Indico Res V 2079 Infinite Lith V 70 Infinite Lith* O 1 Inform Res V 2 O 150 Infrastructure* Inomin Mines V 5 Inspiration Mg* O 10 Intact Gold V 12 Integra Res* O 99 Integra Res V 222 V 50 Inter-Rock Mnl Intercontinent V 489 O 40 Intercontinent* Intgr Egy Sol* O 10245 Intl Battery* O 123 Intl Battery 160 Intl Bethl Mng V 188 Intl Cobalt* O 210 Intl Cobalt 887 Intl Lithium* O 212 Intl Lithium V 332 Intl Montoro V 927 Intl Prospect * O 6 Intl Prospect V 54 Intl Samuel Ex V 852 Intl Star* O 2418 Intl Tower Hil* X 391 83 Intl Tower Hil T Intl Zeolite V 305 Intl Zeolite* O 4 Intrepid Pots* N 1465 INV Metals* O 42 INV Metals T 316 Inventus Mg V 201 Inventus Mg * O 194 O 140 InZinc Mining* InZinc Mining V 220 Ireland* O 28 Irving Res* O 108 Irving Res 132 IsoEnergy Ltd V 267 Itafos* O 18 Itafos V 300 Itoco Inc* O 1 Ivanhoe Mines* O 1372 Ivanhoe Mines T 7150 Jade Leader* O 40 Jade Leader V 24 Jaeger Res V 100 Jaguar Mng T 496 Jaguar Mng* O 207 Japan Gold V 225 Japan Gold* O 78 Jaxon Mining* O 48 Jaxon Mining V 662 Jayden Res* O 0 Jayden Res V 281 Jazz Res V 600 Jiulian Res V 412 Jourdan Res V 388 Jubilee Metals* O 2 Juggernaut Exp V 915 Juggernaut Exp* O 43 Jupiter Gold* O 3 K2 Gold V 64 K92 Mining* O 586 K92 Mining V 3179 Kaizen Discov V 584 Kaizen Discvry* O 5 Kapuskasing Gd V 138 Karmin Expl V 62 Karnalyte Res T 27 Karoo Expl V 173 KAT Expl* O 228633 Katanga Mng T 569 Kenadyr Mining V 80 Kenadyr Mining* O 10 Kermode Res V 18 Kerr Mines* O 294 Kerr Mines T 631 Kesselrun Res* O 5 Kesselrun Res V 195 Kestrel Gold V 359 Khan Res 8 Kilo Goldmines V 520 Kilo Goldmines* O 223 Kincora Copper* O 25 Kincora Copper V 13 Kings Bay Res* O 15 Kings Bay Res V 318 Kingsmen Res V 54 Kingsmen Res* O 1 Kinross Gold T 14650 Kinross Gold* N 52176 Kintavar Exp V 397 Kirkland Lake* N 4640 Kirkland Lake T 3710 Klondike Gold* O 165 Klondike Gold V 278 Klondike Silv* O 249 Klondike Silv V 593 Knick Expl V 433 Kombat Copper V 31 Kombat Copper* O 50 Komet Resource V 328 Kootenay Silvr* O 171 Kootenay Silvr V 1826 Kootenay Zinc 76 Kootenay Zinc* O 56 Kore Mining * O 3 Kore Mining V 320 Kutcho Copper * O 98 KWG Res* O 1286 KWG Res 310

0.11 0.09 0.10 + 0.01 0.35 0.09 0.08 0.08 0.08 - 0.00 0.28 0.07 3.77 3.45 3.49 - 0.26 6.33 2.75 4.94 4.58 4.63 - 0.27 8.20 3.64 0.14 0.12 0.13 unch 0.00 0.19 0.08 0.10 0.09 0.10 + 0.01 0.14 0.06 0.05 0.04 0.05 - 0.00 0.08 0.03 0.07 0.06 0.06 unch 0.00 0.10 0.04 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.12 0.09 0.11 + 0.02 0.15 0.07 0.09 0.07 0.09 + 0.00 0.12 0.05 0.33 0.30 0.33 + 0.02 0.56 0.20 1.34 0.00 1.31 - 0.04 1.90 0.72 1.80 1.70 1.77 unch 0.00 0.11 0.10 0.10 - 0.01 0.16 0.05 0.04 0.04 0.04 + 0.01 0.06 0.02 0.05 0.05 0.05 unch 0.00 0.08 0.04 0.12 0.00 0.12 + 0.01 0.33 0.00 0.08 0.06 0.06 - 0.01 0.10 0.03 0.10 0.09 0.10 + 0.01 0.14 0.04 0.02 0.02 0.02 unch 0.00 0.06 0.03 0.02 0.01 0.02 + 0.01 0.03 0.01 0.10 0.08 0.10 + 0.01 0.27 0.07 0.07 0.07 0.07 unch 0.00 0.19 0.05 0.00 0.00 0.07 unch 0.00 0.21 0.06 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.03 0.03 0.03 unch 0.00 0.17 0.03 0.00 0.00 0.00 unch 0.00 0.13 0.00 0.08 0.00 0.08 - 0.01 1.18 0.06 0.69 0.62 0.63 - 0.01 1.83 0.44 0.88 0.83 0.84 - 0.01 1.40 0.61 0.30 0.30 0.30 unch 0.00 0.59 0.20 0.22 0.13 0.13 - 0.07 0.65 0.14 0.13 0.00 0.13 - 0.11 0.47 0.12 0.00 0.00 0.00 - 0.00 0.00 0.00 0.14 0.13 0.13 - 0.00 0.69 0.10 0.18 0.17 0.18 - 0.01 0.89 0.13 0.05 0.04 0.05 + 0.02 0.11 0.03 0.03 0.02 0.02 - 0.01 0.26 0.02 0.04 0.03 0.03 - 0.01 0.35 0.03 0.06 0.04 0.05 - 0.00 0.13 0.02 0.07 0.05 0.07 - 0.01 0.16 0.03 0.08 0.04 0.06 + 0.02 0.08 0.04 0.12 0.00 0.12 + 0.03 0.25 0.10 0.20 0.15 0.19 + 0.04 0.38 0.12 0.03 0.02 0.03 unch 0.00 0.19 0.02 0.00 0.00 0.00 + 0.00 0.00 0.00 0.64 0.56 0.60 + 0.01 0.78 0.35 0.83 0.75 0.79 - 0.01 0.99 0.48 0.12 0.10 0.12 + 0.01 0.47 0.05 0.08 0.08 0.08 + 0.00 0.36 0.01 3.30 3.06 3.12 - 0.03 5.31 2.51 0.59 0.53 0.54 - 0.05 0.59 0.26 0.73 0.62 0.63 - 0.11 0.83 0.35 0.12 0.12 0.12 - 0.01 0.25 0.11 0.10 0.09 0.09 - 0.01 0.18 0.08 0.04 0.03 0.03 - 0.00 0.16 0.03 0.04 0.04 0.04 unch 0.00 0.20 0.04 0.08 0.05 0.07 - 0.01 0.19 0.03 1.50 1.34 1.41 + 0.06 1.50 0.66 1.96 1.73 1.88 + 0.10 1.96 0.84 0.50 0.45 0.49 + 0.03 0.57 0.28 0.62 0.58 0.59 - 0.01 2.25 0.60 0.82 0.77 0.77 - 0.02 2.90 0.78 0.07 0.00 0.07 unch 0.00 0.33 0.02 2.58 2.08 2.36 + 0.24 2.77 1.50 3.40 2.73 3.15 + 0.39 3.59 2.00 0.19 0.19 0.19 unch 0.00 0.38 0.13 0.24 0.00 0.23 + 0.01 0.50 0.19 0.03 0.02 0.02 unch 0.00 0.05 0.02 0.22 0.19 0.21 unch 0.00 0.41 0.18 0.16 0.14 0.16 + 0.00 0.33 0.13 0.23 0.20 0.23 + 0.03 0.32 0.07 0.17 0.15 0.17 + 0.01 0.24 0.06 0.07 0.05 0.06 + 0.01 0.24 0.04 0.09 0.06 0.08 + 0.02 0.29 0.05 0.01 0.00 0.01 unch 0.00 0.12 0.01 0.02 0.02 0.02 - 0.01 0.20 0.01 0.06 0.06 0.06 unch 0.00 0.08 0.03 0.12 0.10 0.10 - 0.04 0.18 0.02 0.04 0.04 0.04 - 0.01 0.13 0.03 0.03 0.03 0.03 unch 0.00 0.05 0.03 0.08 0.07 0.08 + 0.01 0.59 0.07 0.06 0.06 0.06 + 0.00 1.10 0.05 1.50 1.50 1.50 unch 0.00 2.25 1.50 0.26 0.23 0.26 + 0.03 0.33 0.16 0.93 0.81 0.92 + 0.09 0.91 0.34 1.23 1.06 1.22 + 0.14 1.20 0.44 0.06 0.05 0.06 - 0.01 0.11 0.05 0.04 0.04 0.04 - 0.00 0.08 0.03 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.67 0.64 0.66 - 0.03 1.10 0.60 0.25 0.22 0.22 - 0.04 0.61 0.17 0.09 0.06 0.06 - 0.01 0.84 0.06 0.00 0.00 0.00 - 0.00 0.00 0.00 0.67 0.62 0.62 - 0.04 2.32 0.36 0.08 0.07 0.08 unch 0.00 0.21 0.06 0.05 0.05 0.05 - 0.01 0.16 0.04 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.12 0.10 0.12 + 0.01 0.19 0.07 0.15 0.14 0.15 + 0.01 0.25 0.11 0.04 0.04 0.04 + 0.01 0.10 0.03 0.06 0.05 0.05 - 0.02 0.14 0.03 0.03 0.02 0.02 - 0.01 0.06 0.01 0.06 0.06 0.06 unch 0.00 0.16 0.05 0.02 0.02 0.02 unch 0.00 0.07 0.01 0.01 0.01 0.01 - 0.00 0.06 0.01 0.09 0.00 0.08 - 0.01 0.23 0.08 0.12 0.00 0.12 - 0.01 0.29 0.09 0.03 0.03 0.03 - 0.00 0.10 0.02 0.04 0.03 0.04 + 0.01 0.13 0.03 0.39 0.30 0.35 + 0.01 0.45 0.14 0.23 0.23 0.23 - 0.03 0.33 0.11 4.57 4.35 4.52 + 0.13 5.38 3.15 3.47 3.29 3.40 + 0.03 4.30 2.38 0.23 0.17 0.22 + 0.04 0.65 0.11 33.55 31.59 33.38 + 1.07 33.37 13.09 44.50 41.47 44.23 + 1.98 44.25 16.54 0.15 0.13 0.15 + 0.00 0.34 0.10 0.19 0.18 0.19 unch 0.00 0.44 0.17 0.04 0.03 0.03 + 0.00 0.08 0.03 0.05 0.04 0.05 unch 0.00 0.10 0.04 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.07 0.06 0.06 - 0.01 0.32 0.05 0.05 0.05 0.05 unch 0.00 0.18 0.05 0.13 0.11 0.12 - 0.01 0.48 0.11 0.11 0.10 0.10 - 0.01 0.17 0.08 0.15 0.12 0.13 - 0.01 0.20 0.11 0.15 0.00 0.12 - 0.03 0.53 0.05 0.17 0.07 0.09 - 0.05 0.22 0.03 0.14 0.14 0.14 unch 0.00 0.14 0.02 0.20 0.17 0.17 - 0.05 3.50 0.08 0.27 0.25 0.25 - 0.02 0.76 0.14 0.01 0.01 0.01 unch 0.00 0.02 0.00 0.01 0.00 0.01 + 0.01 0.02 0.01

I-J-K

L Labdr Iron Mns* O

0.01

0.00 0.01

+ 0.01

0.11 0.00

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Labrador Gold V 288 O 6 Labrador Gold* Labrador Iron T 1477 Lara Expl V 61 Laramide Res T 1092 Laredo Res* O 3457 Largo Res T 3302 Largo Res* O 2279 Lateral Gold V 68 Latin Am Mnls V 571 20 Latin Am Mnls* O Laurion Mnl Ex* O 40 166 Laurion Mnl Ex V Le Mare Gold* O 1 Le Mare Gold V 14 Leading Edge V 238 O 341 Leading Edge* Leagold Mg* O 396 Leagold Mg T 765 Leeta Gold V 4835 Leo Res* O 7 Lepanto Con Mg* O 695 Levon Res Ltd T 160 Levon Res Ltd * O 43 V 250 Libero Copper Liberty Gold* O 409 Liberty One Li V 219 Liberty One Li* O 304 LiCo Energy* O 83 LiCo Energy V 65 Lincoln Mng V 98 Lion One Mtls V 31 Lion One Mtls* O 7 Lions Bay Cap V 410 Lions Bay Mg 9 Lions Bay Mg * O 1 Lithion Energy* O 1 Lithium Amer* N 370 Lithium Amer T 404 Lithium Chile* O 35 Lithium Chile V 170 Lithium Corp* O 236 Lithium Energi* O 3 Lithium Energi V 64 V 415 Lithium Energy Lithium Expl* O 3039 Lithoquest Dia V 69 Lithoquest Dia* O 10 LKA Gold* O 1 Lode-Star Mg* O 250 Lomiko Mtls* O 38 Lomiko Mtls V 1177 Loncor Res* O 16 Loncor Res T 57 Lone Star Gold* O 191 Lonmin plc* O 52 Lorraine Coppr* O 884 Lorraine Coppr V 4526 Lovitt Res* O 446 LSC Lithium* O 39 Lucara Diam T 2027 Lucky Mnls V 641 Lucky Mnls * O 31 Luckystrike V 47 Luckystrike * O 27 Lumina Gold* O 86 Lumina Gold V 554 Luminex Res V 56 Lundin Gold T 114 Lundin Mng* O 116 Lundin Mng T 10427 Lupaka Gold V 235 Lydian Intl* O 87 Lydian Intl T 959 Lynas Corp* O 158 Lynas Corp* O 24

0.23 0.22 0.22 - 0.03 0.35 0.14 0.17 0.17 0.17 unch 0.00 0.21 0.11 33.00 29.72 32.78 + 2.67 32.30 20.44 0.44 0.42 0.42 - 0.01 0.79 0.41 0.42 0.37 0.40 + 0.02 0.52 0.24 0.01 0.00 0.00 + 0.00 0.05 0.00 2.82 2.44 2.56 - 0.17 4.65 1.08 2.14 1.84 1.93 - 0.14 3.56 0.84 0.39 0.33 0.39 + 0.06 0.89 0.25 0.02 0.02 0.02 - 0.01 0.12 0.01 0.01 0.01 0.01 unch 0.00 0.09 0.01 0.07 0.07 0.07 unch 0.00 0.08 0.03 0.09 0.08 0.09 - 0.01 0.11 0.04 0.05 0.05 0.05 - 0.00 0.30 0.00 0.08 0.07 0.08 + 0.01 0.29 0.06 0.20 0.15 0.19 + 0.03 0.82 0.15 0.15 0.11 0.13 + 0.01 0.64 0.11 1.62 1.47 1.55 - 0.09 2.63 0.95 2.13 1.96 2.06 - 0.08 3.17 1.28 0.42 0.34 0.42 + 0.04 2.24 0.24 0.12 0.09 0.12 + 0.02 0.60 0.01 0.00 0.00 0.00 + 0.00 0.01 0.00 0.16 0.14 0.14 - 0.02 0.35 0.12 0.12 0.10 0.10 - 0.02 0.27 0.09 0.09 0.09 0.09 unch 0.00 0.15 0.07 0.33 0.29 0.30 - 0.01 0.36 0.21 0.15 0.13 0.14 unch 0.00 0.76 0.07 0.11 0.10 0.10 + 0.00 0.61 0.04 0.10 0.07 0.08 - 0.02 0.18 0.01 0.12 0.10 0.11 - 0.01 1.45 0.07 0.02 0.02 0.02 - 0.01 0.04 0.01 0.50 0.48 0.48 + 0.01 0.76 0.35 0.38 0.35 0.35 - 0.00 0.62 0.24 0.04 0.04 0.04 - 0.01 0.12 0.04 0.18 0.00 0.14 + 0.02 0.20 0.11 0.14 0.00 0.09 - 0.04 0.14 0.08 0.05 0.05 0.05 unch 0.00 0.08 0.02 3.23 3.02 3.06 - 0.16 8.05 2.75 4.25 3.99 4.04 - 0.19 9.88 3.74 0.44 0.36 0.38 - 0.05 0.97 0.34 0.57 0.49 0.50 - 0.06 1.10 0.46 0.15 0.13 0.13 - 0.01 0.50 0.10 0.17 0.17 0.17 unch 0.00 0.48 0.11 0.20 0.19 0.19 - 0.04 0.62 0.15 0.12 0.10 0.10 unch 0.00 1.20 0.09 0.01 0.01 0.01 - 0.00 0.05 0.00 0.10 0.09 0.09 + 0.01 0.88 0.08 0.06 0.06 0.06 unch 0.00 0.51 0.06 0.11 0.00 0.11 - 0.04 0.43 0.05 0.03 0.03 0.03 - 0.02 0.05 0.02 0.04 0.00 0.03 - 0.01 0.15 0.02 0.05 0.04 0.04 - 0.01 0.14 0.04 0.05 0.04 0.04 - 0.01 0.09 0.04 0.08 0.00 0.07 - 0.02 0.14 0.06 0.01 0.00 0.00 - 0.00 0.03 0.00 0.93 0.77 0.93 + 0.23 1.17 0.45 0.17 0.12 0.15 + 0.03 0.17 0.01 0.22 0.15 0.21 + 0.04 0.22 0.07 0.00 0.00 0.00 unch 0.00 0.08 0.00 0.50 0.49 0.50 + 0.01 1.12 0.24 1.73 1.60 1.67 + 0.06 2.68 1.38 0.13 0.12 0.12 - 0.01 0.21 0.09 0.10 0.09 0.10 + 0.01 0.16 0.06 0.19 0.00 0.16 - 0.01 0.55 0.13 0.12 0.12 0.12 + 0.00 0.35 0.11 0.48 0.42 0.47 + 0.02 0.67 0.35 0.63 0.55 0.61 + 0.03 0.85 0.46 0.62 0.00 0.58 - 0.04 1.05 0.51 5.54 5.35 5.49 - 0.05 5.60 4.33 4.78 4.47 4.51 - 0.02 7.09 3.60 6.33 5.89 6.00 + 0.06 9.09 4.70 0.08 0.07 0.07 unch 0.00 0.29 0.07 0.14 0.12 0.13 - 0.02 0.44 0.05 0.19 0.18 0.18 - 0.01 0.55 0.07 1.21 1.16 1.17 - 0.02 2.20 1.05 1.20 1.12 1.13 - 0.01 2.20 1.05

M M.P.V. Explor 35 0.12 0.12 0.12 unch 0.00 0.30 0.06 M2 Cobalt* O 13 0.75 0.14 0.14 - 0.03 0.75 0.12 Macarthur Mnl V 1821 0.04 0.03 0.04 - 0.01 0.07 0.02 Macarthur Mnl* O 137 0.04 0.03 0.03 - 0.00 0.05 0.01 O 0 0.02 0.02 0.02 unch 0.00 0.07 0.02 MacDonald Mns* MacDonald Mns V 375 0.03 0.03 0.03 - 0.01 0.10 0.03 MAG Silver T 620 11.93 11.40 11.72 + 0.03 15.59 8.10 Magellan Gold* O 9 3.10 2.50 2.60 - 0.12 3.10 0.60 Magna Terra V 5 0.05 0.04 0.05 unch 0.00 0.06 0.03 Majestic Gold V 39 0.08 0.08 0.08 + 0.01 0.11 0.05 Makena Res 116 0.05 0.04 0.04 - 0.01 0.19 0.04 Makena Res* O 20 0.04 0.04 0.04 unch 0.00 0.15 0.03 Mako Mining V 363 0.16 0.14 0.15 - 0.01 0.29 0.12 Mako Mining* O 345 0.13 0.01 0.12 + 0.00 0.23 0.01 V 236 0.05 0.04 0.05 unch 0.00 0.09 0.03 Mammoth Res Mandalay Res T 1284 0.15 0.12 0.14 - 0.01 Mandalay Res* O 192 0.11 0.09 0.10 - 0.02 0.21 0.03 Manganese X* O 1250 0.09 0.09 0.09 unch 0.00 0.21 0.07 Manganese X V 354 0.13 0.11 0.13 + 0.01 0.28 0.09 Mangazeya Mng V 26 0.04 0.00 0.04 unch 0.00 0.05 0.02 Mangazeya Mng* O 400 0.03 0.02 0.02 unch 0.00 0.03 0.01 Manitou Gold * O 58 0.05 0.04 0.05 unch 0.00 0.11 0.03 Manitou Gold V 3259 0.07 0.04 0.06 + 0.03 0.16 0.03 Maple Gold V 917 0.12 0.11 0.11 - 0.01 0.30 0.09 Maple Gold* O 495 0.09 0.08 0.09 - 0.01 0.24 0.06 Marathon Gold* O 309 0.77 0.67 0.73 + 0.04 0.95 0.49 Marathon Gold T 1414 1.02 0.88 0.98 + 0.08 1.20 0.65 Margaret Lake V 690 0.05 0.04 0.04 - 0.01 0.16 0.02 Margaux Res V 141 0.15 0.07 0.15 + 0.08 0.31 0.03 Marifil Mines V 112 0.07 0.07 0.07 - 0.01 0.22 0.06 Marifil Mines* O 10 0.05 0.05 0.05 - 0.00 0.15 0.01 0.07 Maritime Res V 904 0.11 0.10 0.11 + 0.02 0.14 MartinMarietta* N 3607 189.30 180.19 184.34 + 0.53 232.89 150.75 Mas Gold V 41 0.12 0.10 0.12 + 0.01 0.12 0.04 Mason Graphite* O 131 0.38 0.37 0.38 - 0.01 1.62 0.32 Mason Graphite V 357 0.50 0.48 0.50 + 0.01 2.06 0.44 V 55 0.20 0.19 0.19 - 0.01 0.30 0.15 Matachewan Con Matica Ent 2980 0.14 0.12 0.13 - 0.01 0.50 0.07 Matica Ent* O 79 0.10 0.00 0.10 - 0.00 0.40 0.04 Matmown* O 50 0.01 0.01 0.01 - 0.00 0.08 0.01 Maverix Metals* O 13 1.78 1.68 1.73 - 0.02 2.10 1.03 Maverix Metals V 65 2.43 2.20 2.33 + 0.03 2.85 1.33 Mawson Res* O 53 0.22 0.19 0.21 - 0.01 0.48 0.13 Mawson Res T 93 0.29 0.25 0.28 + 0.02 0.63 0.19 MAX Res V 43351 0.40 0.19 0.38 + 0.20 0.33 0.12 MaxTech Vent 121 0.13 0.11 0.12 unch 0.00 0.60 0.10 MaxTech Vent* O 123 0.09 0.08 0.09 - 0.00 0.48 0.07 Maxwell Res* O 407 0.01 0.00 0.00 - 0.00 0.01 0.00 Maya Gold &Sil* O 51 1.82 1.61 1.61 + 0.17 2.33 1.20 Maya Gold &Sil T 120 2.40 2.10 2.15 + 0.25 3.02 1.58 Mazarin V 81 0.10 0.10 0.10 - 0.01 0.18 0.05 MBMI Res* O 20 0.03 0.03 0.03 unch 0.00 1.00 0.01 MBMI Res V 35 0.02 0.02 0.02 unch 0.00 0.08 0.02 McChip Res V 20 0.93 0.64 0.93 + 0.29 0.93 0.50 McEwen Mng T 458 2.42 2.28 2.36 unch 0.00 3.28 2.16 McEwen Mng* N 7408 1.84 1.73 1.78 - 0.01 2.52 1.62 McLaren Res 214 0.05 0.04 0.04 unch 0.00 0.13 0.02 unch 0.00 0.26 0.13 MDN Inc* O 1 0.19 0.19 0.19 Meadow Bay Gd 166 0.04 0.03 0.04 - 0.01 0.26 0.03 Meadow Bay Gd* O 6 0.03 0.03 0.03 unch 0.00 0.21 0.02 Mechel* N 434 2.45 2.20 2.26 - 0.12 5.25 1.95 Medallion Res* O 237 0.09 0.08 0.09 + 0.01 0.14 0.06 Medallion Res V 125 0.12 0.11 0.12 - 0.01 0.18 0.08 unch 0.00 0.51 0.12 Medgold Res V 10 0.15 0.15 0.15 Medgold Res* O 38 0.12 0.12 0.12 unch 0.00 0.38 0.09 Medinah Mnrls* O 4167 0.00 0.00 0.00 + 0.00 0.01 0.00 Mega Copper V 3 0.17 0.17 0.17 unch 0.00 0.18 0.16 Mega Uranium T 700 0.12 0.11 0.12 - 0.01 0.19 0.11 Mega Uranium* O 110 0.09 0.08 0.09 + 0.00 0.15 0.07 Megastar Dev V 502 0.07 0.06 0.07 + 0.01 0.11 0.04 MegumaGold* O 8 0.11 0.11 0.11 - 0.00 0.21 0.09 MegumaGold 2 0.13 0.00 0.13 - 0.02 0.30 0.12 Melior Res V 37 0.57 0.00 0.57 - 0.03 1.45 0.50 Melkior Res V 184 0.11 0.09 0.10 + 0.01 0.13 0.04 Merger Mines* O 0 0.00 0.00 25.00 unch 0.00 Meridian Mg V 115 0.12 0.10 0.10 - 0.01 0.55 0.05 Meridius Res V 4 0.21 0.21 0.21 unch 0.00 0.21 0.18 Meryllion Res 579 0.03 0.02 0.02 unch 0.00 0.08 0.02 MetalCorp V 105 0.02 0.02 0.02 unch 0.00 0.03 0.01 Metalex Vent V 54 0.04 0.03 0.03 unch 0.00 0.06 0.02 Metalla Rylty V 1863 1.09 1.01 1.08 + 0.04 1.09 0.62 Metalla Rylty* O 664 0.85 0.77 0.82 + 0.01 0.85 0.48 Metallic Mnrls* O 118 0.16 0.13 0.13 - 0.00 0.36 0.11 Metallic Mnrls V 400 0.21 0.16 0.17 - 0.01 0.45 0.15 Metallis Res V 60 0.53 0.49 0.51 + 0.03 1.53 0.39 Metalo Manuf 8 0.32 0.30 0.30 unch 0.00 0.56 0.15 Metalore Res* O 4 1.45 1.23 1.23 - 0.22 2.19 1.23 Metalore Res V 2 1.88 1.80 1.80 - 0.08 2.85 1.40 Metals Creek* O 86 0.05 0.03 0.03 - 0.02 0.08 0.02 Metals Creek V 1019 0.06 0.04 0.04 - 0.02 0.11 0.04 Metals X* O 141 0.26 0.00 0.26 - 0.02 0.72 0.26 Metron Capital V 106 0.06 0.06 0.06 unch 0.00 0.08 0.05 Mexican Gold* O 35 0.16 0.13 0.13 - 0.03 0.34 0.10 Mexivada Mng* O 47 0.00 0.00 0.00 unch 0.00 0.00 0.00 Mexus Gold* O 3684 0.01 0.01 0.01 - 0.00 0.05 0.01 MGX Minerals* O 511 0.33 0.29 0.32 + 0.01 1.33 0.22

2019-02-12 12:03 PM

WWW.NORTHERNMINER.COM

FEBRUARY 18–MARCH 3, 2019 / THE NORTHERN MINER

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

Week

12-month

Exc Volume High Low Last Change High Low

MGX Minerals 850 Midas Gold T 219 Midas Gold* O 654 Midasco Cap V 18 Midland Expl V 201 Midnight Star 296 Midnight Sun V 113 Millennial Lit* O 155 Millennial Lit V 129 Millrock Res* O 151 Millrock Res V 227 Milner Con Slv V 20 V 992 Minaurum Gold Minaurum Gold* O 702 Minco Silver* O 56 Minco Silver T 38 0 Minecorp Egy * O Minera Alamos * O 510 Minera Alamos V 1051 Minera IRL 921 Mineral Mtn* O 125 Mineral Mtn V 256 Mineral Res* O 0 MineralRite* O 172022 Mineworx Tech V 500 Mineworx Tech* O 191 V 64 Minfocus Expl Minfocus Expl* O 0 Mining Global* O 758 Minnova Corp V 480 Miramont Res 866 Miramont Res* O 337 Miranda Gold V 2536 Mirasol Res V 196 Mistango River 34 Mkango Res V 90 ML Gold* O 33 ML Gold Corp V 2340 O 129 Monarca Mnrls* Monarca Mnrls V 84 Monarques Res T 533 Monarques Res* O 120 T 180 Moneta Porcpn Moneta Porcpn* O 34 32 Monitor Vent V Monitor Vent* O 42 O 6 Monster Uran* Monster Uran V 400 Montego Res* O 20 Montego Res 52 Monterey Min 181 Montero Mg&Ex V 131 Monument Mng V 348 Morien Res* O 20 Morien Res V 152 Mosaic* N 19202 Mount Gibson * O 75 Mountain Boy* O 91 Mountain Boy V 75 Mountain Prov* D 546 Mountain Prov T 1951 O 171 Mundoro Cap* Mundoro Cap V 146 Murchison Min V 13 MX Gold* O 381

0.43 0.38 0.42 + 0.02 1.67 0.30 0.94 0.89 0.91 + 0.01 1.21 0.60 0.72 0.66 0.69 - 0.02 0.95 0.46 0.10 0.10 0.10 unch 0.00 0.15 0.07 1.14 1.01 1.12 - 0.01 1.41 0.66 0.31 0.25 0.26 - 0.04 0.40 0.11 0.15 0.14 0.14 unch 0.00 0.48 0.10 1.33 1.08 1.15 - 0.27 3.48 0.67 1.81 1.45 1.53 - 0.29 4.30 1.04 0.07 0.06 0.07 - 0.00 0.31 0.05 0.10 0.09 0.09 - 0.01 0.40 0.08 0.05 0.05 0.05 unch 0.00 0.11 0.03 0.47 0.42 0.46 - 0.02 0.67 0.42 0.36 0.30 0.34 - 0.04 0.52 0.30 0.45 0.00 0.43 - 0.01 0.62 0.24 0.57 0.55 0.57 unch 0.00 0.79 0.35 0.00 0.00 0.01 unch 0.00 0.07 0.01 0.09 0.08 0.09 + 0.01 0.13 0.06 0.12 0.11 0.12 + 0.01 0.16 0.09 0.06 0.06 0.06 - 0.01 0.12 0.05 0.09 0.08 0.09 - 0.01 0.60 0.05 0.12 0.11 0.12 + 0.01 0.74 0.07 12.00 12.00 12.00 unch 0.00 15.00 9.85 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.13 0.12 0.13 unch 0.00 0.32 0.11 0.10 0.09 0.10 - 0.00 0.26 0.08 0.05 0.05 0.05 unch 0.00 0.32 0.03 0.00 0.00 0.03 unch 0.00 0.04 0.03 0.00 0.00 0.00 + 0.00 0.00 0.00 0.45 0.45 0.45 + 0.03 0.93 0.41 0.46 0.33 0.37 - 0.09 0.48 0.13 0.35 0.25 0.28 - 0.06 0.35 0.12 0.04 0.03 0.04 + 0.01 0.06 0.01 1.29 1.17 1.18 - 0.08 2.25 0.97 0.05 0.00 0.05 + 0.02 0.05 0.01 0.15 0.00 0.15 unch 0.00 0.19 0.10 0.02 0.02 0.02 - 0.00 0.21 0.01 0.03 0.02 0.02 - 0.01 0.26 0.02 0.03 0.03 0.03 - 0.01 0.08 0.01 0.04 0.04 0.04 unch 0.00 0.09 0.02 0.24 0.21 0.23 + 0.01 0.41 0.15 0.20 0.15 0.18 + 0.02 0.33 0.11 0.12 0.11 0.11 - 0.01 0.18 0.07 0.10 0.08 0.08 - 0.02 0.14 0.06 0.26 0.00 0.26 - 0.03 0.98 0.16 0.20 0.17 0.20 + 0.03 0.80 0.12 0.11 0.11 0.11 unch 0.00 0.11 0.04 0.15 0.15 0.15 unch 0.00 0.40 0.13 0.04 0.04 0.04 unch 0.00 0.32 0.04 0.05 0.04 0.04 - 0.01 0.45 0.04 0.16 0.08 0.13 - 0.03 0.16 0.08 0.10 0.07 0.08 unch 0.00 0.34 0.07 0.06 0.06 0.06 unch 0.00 0.09 0.05 0.41 0.00 0.41 + 0.01 0.54 0.30 0.54 0.49 0.50 + 0.02 0.67 0.42 32.56 30.65 31.19 - 1.41 37.37 22.90 0.44 0.44 0.44 unch 0.00 0.44 0.28 0.14 0.14 0.14 unch 0.00 0.18 0.03 0.22 0.18 0.22 + 0.02 0.43 0.15 1.31 1.06 1.20 - 0.11 2.92 1.06 1.64 1.40 1.45 - 0.18 3.72 1.40 0.17 0.14 0.17 unch 0.00 0.17 0.06 0.21 0.19 0.20 + 0.01 0.25 0.09 0.09 0.09 0.09 unch 0.00 0.25 0.06 0.01 0.00 0.00 unch 0.00 0.09 0.00

NA Frac Sand* O 200 NACCO Ind* N 28 Namibia Crit V 165 Namibia Crit* O 282 Napier Vent V 28 Napier Vent* O 2 Natural Res Pt* N 131 T 623 Nautilus Mnrls O 964 Nautilus Mnrls* Navis Res Corp* O 0 Nemaska Lith T 10517 Nemaska Lith* O 1045 Neo Lithium V 465 Neometals* O 0 Network Expl* O 122 Network Expl V 216 Nevada Clean M V 1244 Nevada Clean M* O 374 678 Nevada Copper T Nevada Energy* O 26 Nevada Energy V 46 Nevada Expl * O 222 Nevada Expl V 144 O 479 Nevada Sunrise* Nevada Sunrise V 65 Nevada Zinc V 178 Nevado Res V 22 Nevsun Res* X 254 369 Nevsun Res T New Age Metals V 647 New Age Metals* O 20 New Carolin Gd* O 234 New Carolin Gd V 484 51 New Destiny Mg V New Dimen Res V 230 New Dimen Res* O 30 New Energy Met V 157 New Gold* X 12898 New Gold T 3741 New Guinea Gld* O 40 New Jersey Mng* O 1409 New Milln Iron* O 233 New Milln Iron T 2510 New Nadina V 89 New Nadina* O 16 New Oroperu V 4 New Pac Metals V 87 New Pac Metals* O 21 New Point Expl 308 New Tech Lith 226 New Tech Lith* O 3 New World Res V 122 Newlox Gold 74 Newmac Res V 43 Newmac Res* O 9 Newmont Mng* N 23265 Newport Expl V 328 NewRange Gold* O 83 NewRange Gold V 291 Nexa Resources T 7 Nexa Resources* N 1223 Nexco Res 50 Nexgen Energy T 7167 Nexgen Energy* X 1240 NextSource Mat T 1579 Nexus Gold V 643 Nexus Gold* O 22 NGEx Res* O 20 NGEx Res T 2 Nickel Creek T 826 Nickel Creek* O 1237 Nickel North V 40 Nickel One Res* O 250 Nickel One Res V 910 254 Nicola Mg Inc V Nicola Mg Inc* O 41 Nighthawk Gold* O 44 Nighthawk Gold T 567 Niobay Metals V 65 Niocan Inc V 28 Niocorp Dev T 499 Niocorp Dev* O 600 Nippon Dragon V 242 Nippon Dragon* O 110 Nitinat Mnls V 110 NKWE Platinum* O 308 Noble Metal V 630 Noble Mineral* O 81 Noble Mineral V 2869 Noka Res* O 327 Noram Vent V 1621 Noram Vent* O 2 Noranda Alum* O 27 Nordic Gold* O 89 Nordic Gold V 1149 Noront Res V 829 Norsemont Cap 22 Nortec Mnls* O 6 Nortec Mnls V 147 North Am Nickl V 1188 North Am Nickl* O 437

0.00 0.00 0.00 - 0.00 0.02 0.00 36.31 34.79 34.95 + 0.66 44.10 28.77 0.18 0.14 0.15 unch 0.00 0.46 0.07 0.14 0.11 0.12 + 0.01 2.77 0.07 0.23 0.21 0.21 - 0.02 0.51 0.20 0.18 0.18 0.18 unch 0.00 0.40 0.18 39.64 37.94 38.51 + 0.02 39.86 26.55 0.07 0.06 0.06 unch 0.00 0.39 0.05 0.05 0.04 0.05 - 0.00 0.31 0.03 0.24 0.24 0.24 unch 0.00 0.30 0.27 0.63 0.56 0.58 - 0.04 0.48 0.42 0.44 - 0.04 1.41 0.39 0.72 0.63 0.65 - 0.03 2.05 0.55 0.00 0.00 0.15 unch 0.00 0.50 0.10 0.25 0.19 0.21 + 0.02 0.35 0.19 0.33 0.25 0.28 + 0.03 0.44 0.23 0.05 0.04 0.04 - 0.01 0.06 0.03 0.04 0.03 0.04 - 0.00 0.04 0.02 0.50 0.44 0.46 + 0.02 0.09 0.00 0.09 + 0.01 0.24 0.07 0.15 0.12 0.12 + 0.01 0.30 0.10 0.30 0.25 0.26 - 0.02 0.39 0.09 0.39 0.34 0.35 - 0.02 0.50 0.12 0.07 0.05 0.07 + 0.01 0.15 0.04 0.09 0.07 0.09 + 0.01 0.19 0.06 0.12 0.09 0.12 + 0.03 0.23 0.09 0.16 0.00 0.15 unch 0.00 0.90 0.09 4.57 4.49 4.52 - 0.06 4.58 2.05 6.00 5.98 6.00 + 0.02 0.09 0.08 0.08 - 0.01 0.13 0.05 0.07 0.05 0.05 - 0.01 0.11 0.03 0.16 0.14 0.16 + 0.01 0.41 0.09 0.22 0.18 0.21 + 0.01 0.56 0.13 0.18 0.18 0.18 - 0.01 0.35 0.10 0.07 0.00 0.06 - 0.01 0.30 0.05 0.05 0.00 0.05 + 0.01 0.22 0.04 0.08 0.07 0.07 - 0.01 0.90 0.05 1.17 1.10 1.16 + 0.02 2.92 0.70 1.56 1.45 1.54 + 0.05 3.66 0.90 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.20 0.16 0.17 - 0.03 0.25 0.13 0.07 0.00 0.07 + 0.01 0.08 0.03 0.09 0.07 0.08 unch 0.00 0.11 0.04 0.12 0.00 0.10 - 0.02 0.28 0.05 0.09 0.08 0.08 + 0.00 0.19 0.03 0.32 0.31 0.31 - 0.01 0.45 0.25 2.09 1.93 1.96 - 0.04 2.09 1.18 1.58 1.47 1.50 - 0.04 1.58 0.86 0.13 0.09 0.13 + 0.04 0.41 0.01 0.04 0.03 0.04 unch 0.00 0.10 0.03 0.03 0.02 0.03 + 0.01 0.09 0.02 0.21 0.18 0.21 + 0.03 0.30 0.13 0.04 0.04 0.04 unch 0.00 0.06 0.03 0.09 0.06 0.09 unch 0.00 0.10 0.06 0.04 0.04 0.04 unch 0.00 0.04 0.04 34.31 33.31 33.84 unch 0.00 41.98 29.06 0.27 0.25 0.25 - 0.02 0.38 0.22 0.15 0.11 0.14 unch 0.00 0.29 0.04 0.20 0.17 0.19 + 0.01 0.35 0.07 12.86 11.27 12.19 + 0.78 26.70 11.00 9.84 8.58 9.20 + 0.48 21.18 8.22 0.07 0.06 0.06 - 0.01 0.35 0.06 2.59 2.27 2.44 + 0.15 3.31 2.12 1.98 1.73 1.84 + 0.07 2.53 1.57 0.12 0.11 0.12 + 0.01 0.16 0.05 0.14 0.12 0.12 - 0.01 0.60 0.08 0.10 0.09 0.10 - 0.00 0.29 0.02 0.81 0.78 0.81 unch 0.00 1.03 0.73 1.05 1.02 1.03 + 0.01 1.33 0.91 0.08 0.07 0.08 unch 0.00 0.35 0.06 0.06 0.05 0.06 - 0.00 0.27 0.04 0.02 0.00 0.02 unch 0.00 0.07 0.02 0.04 0.04 0.04 unch 0.00 0.05 0.01 0.05 0.05 0.05 unch 0.00 0.07 0.02 0.11 0.10 0.10 unch 0.00 0.21 0.09 0.08 0.07 0.07 - 0.01 0.16 0.06 0.31 0.28 0.29 - 0.02 0.56 0.22 0.41 0.38 0.41 + 0.01 0.72 0.30 0.27 0.23 0.25 - 0.02 0.37 0.16 0.20 0.16 0.20 + 0.04 0.36 0.06 0.69 0.64 0.66 + 0.02 0.76 0.52 0.52 0.47 0.50 + 0.01 0.60 0.39 0.02 0.02 0.02 unch 0.00 0.06 0.01 0.01 0.01 0.01 - 0.00 0.05 0.00 0.05 0.00 0.05 unch 0.00 0.51 0.03 0.00 0.00 0.05 unch 0.00 0.06 0.02 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.10 0.09 0.10 + 0.03 0.13 0.04 0.13 0.12 0.13 unch 0.00 0.16 0.06 0.20 0.18 0.18 - 0.02 0.71 0.18 0.25 0.15 0.16 - 0.10 0.50 0.12 0.19 0.19 0.19 + 0.01 0.43 0.09 0.01 0.00 0.01 + 0.00 0.06 0.01 0.09 0.07 0.08 + 0.00 0.12 0.06 0.12 0.10 0.11 + 0.01 0.17 0.09 0.30 0.27 0.28 - 0.03 0.42 0.21 0.34 0.32 0.34 + 0.02 0.46 0.25 0.05 0.03 0.03 unch 0.00 0.08 0.00 0.04 0.04 0.04 unch 0.00 0.13 0.03 0.04 0.03 0.03 - 0.01 0.09 0.03 0.03 0.02 0.02 - 0.01 0.07 0.02

N-O

20-23_FEB18_StockTables.indd 22

(100s) Stock

Week

(100s) Stock

12-month

Exc Volume High Low Last Change High Low

North Am Pall T 137 North Am Pall* O 55 North Arrow Mn* O 5 North Arrow Mn V 237 North Bay Res * O 30303 Northcliff Res T 114 Northern Light 359 V 170 Northern Uran Northisle C&G V 24 Norvista Cap V 220 NorZinc T 405 NorZinc* O 295 V 2247 Nouveau Monde Nouveau Monde* O 121 NovaGold Res T 764 NovaGold Res* X 4257 Novo Res* O 237 Novo Res V 416 NRG Metals* O 1333 NRG Metals V 1350 Nrthn Graphite V 121 O 213 Nrthn Graphite* Nrthn Lion V 3 Nrthn Mnrls &E* O 25 Nrthn Shield V 570 Nrthn Superior* O 0 V 22 Nrthn Superior Nrthn Vertex* O 85 Nrthn Vertex V 571 V 17 NSGold 675 NSS Res Inc Nthn Dynasty* X 15286 Nthn Dynasty T 2273 Nthrn Sphere* O 40 Nthrn Sphere 113 Nubian Res V 277 Nuinsco Res* O 53 NuLegacy Gold V 883 O 824 NuLegacy Gold* Nutrien T 5290 Nutrien* N 10070 NV Gold* O 45 NV Gold V 97 NX Uranium* O 49 NxGold Ltd* O 149 NxGold Ltd V 585 O.T. Mining* O 9 OceanaGold* O 23 OceanaGold T 8701 904 Oceanic Iron O V O 100 Oceanus Res* Oceanus Res V 127 Odyssey Res V 20 OK2 Minerals V 1834 Olivut Res V 34 Olivut Res* O 7 Omineca Mining V 82 Omineca Mining* O 17 195 One World Lith One World Lith* O 5 Opawica Expl* O 0 Opawica Expl V 293 Opus One Res V 66 Orbite Tech* O 49 Orca Gold V 1098 Orca Gold* O 96 Orefinders Res V 105 Orestone Mng V 36 Orex Mnrls* O 6 Orex Mnrls V 374 Orezone Gold* O 62 Orezone Gold V 333 Orford Mining V 94 Organic Potash 189 OrganiMax V 4 OrganiMax* O 151 Origin Gold V 5 18 Orla Mng Ltd* O Orla Mng Ltd T 412 Oro East Mg* O 60 Oroco Res V 767 Oroco Res* O 101 Orocobre T 46 Oronova Energy* O 86 V 104 Oronova Energy Oroplata Res* O 1389 Orosur Mng T 390 Orsu Metals V 30 Orsu Metals* O 30 Orvana Mnrls T 337 Orvana Mnrls* O 187 Osino Res V 83 Osisko Gold* N 1981 Osisko Gold T 1504 O 24 Osisko Metals* Osisko Metals V 1445 Osisko Mng Inc T 2141 Osprey Gold V 92 Otis Gold V 130 Otis Gold* O 69 OZ Minerals* O 2

15.26 13.03 14.88 + 1.31 15.26 8.18 11.56 9.84 11.26 + 0.99 11.56 6.47 0.08 0.08 0.08 unch 0.00 0.20 0.06 0.11 0.10 0.11 + 0.01 0.26 0.08 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.08 0.07 0.07 - 0.01 0.16 0.05 0.04 0.04 0.04 unch 0.00 0.15 0.03 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.11 0.00 0.09 - 0.01 0.21 0.08 0.08 0.07 0.07 unch 0.00 0.15 0.06 0.10 0.08 0.08 - 0.02 0.17 0.08 0.08 0.06 0.06 - 0.01 0.13 0.05 0.27 0.21 0.26 - 0.01 0.39 0.21 0.20 0.17 0.19 - 0.01 0.30 0.17 5.11 4.85 4.91 - 0.13 6.47 4.49 3.90 3.66 3.70 - 0.15 5.05 3.41 1.95 1.75 1.77 - 0.15 5.00 1.42 2.56 2.31 2.33 - 0.15 6.42 1.89 0.08 0.06 0.07 - 0.01 0.30 0.04 0.11 0.08 0.10 - 0.01 0.39 0.06 0.20 0.17 0.20 + 0.01 0.50 0.14 0.16 0.13 0.15 - 0.00 0.39 0.09 0.21 0.00 0.21 + 0.03 0.55 0.18 0.09 0.05 0.05 - 0.04 0.10 0.02 0.05 0.04 0.04 - 0.01 0.09 0.02 0.00 0.00 0.02 unch 0.00 0.04 0.02 0.26 0.21 0.21 - 0.02 0.50 0.15 0.21 0.18 0.19 - 0.00 0.45 0.17 0.26 0.24 0.26 + 0.01 0.57 0.22 0.08 0.07 0.08 + 0.01 0.13 0.07 0.14 0.09 0.10 + 0.01 0.45 0.08 1.12 0.79 0.96 + 0.16 1.30 0.43 1.47 1.05 1.29 + 0.24 0.03 0.01 0.01 - 0.01 0.11 0.01 0.03 0.02 0.03 + 0.01 0.15 0.02 0.12 0.09 0.10 + 0.01 0.31 0.08 0.00 0.00 0.00 + 0.00 0.01 0.00 0.14 0.08 0.13 - 0.01 0.22 0.10 0.11 0.08 0.10 - 0.01 0.17 0.08 69.99 66.64 69.84 + 1.54 76.17 55.27 52.67 50.21 52.66 + 0.45 58.99 43.96 0.13 0.12 0.12 + 0.00 0.92 0.05 0.18 0.14 0.18 + 0.03 1.22 0.07 0.38 0.19 0.32 + 0.04 1.00 0.01 0.07 0.05 0.05 - 0.02 0.25 0.05 0.09 0.07 0.09 + 0.02 0.32 0.06 0.10 0.05 0.05 - 0.05 0.24 0.04 3.58 2.97 3.11 - 0.44 3.74 2.31 4.53 3.99 4.20 - 0.45 5.01 2.97 0.15 0.08 0.10 + 0.03 0.16 0.04 0.07 0.07 0.07 unch 0.00 0.20 0.04 0.12 0.09 0.12 + 0.03 0.27 0.05 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.12 0.10 0.12 - 0.01 0.15 0.07 0.08 0.07 0.07 - 0.01 0.13 0.05 0.04 0.03 0.04 + 0.01 0.05 0.02 0.02 0.01 0.02 + 0.01 0.03 0.01 0.20 0.17 0.20 + 0.02 0.22 0.10 0.15 0.15 0.15 unch 0.00 0.12 0.10 0.00 0.00 0.02 unch 0.00 0.08 0.02 0.06 0.00 0.04 - 0.01 0.19 0.03 0.03 0.03 0.03 unch 0.00 0.10 0.02 0.03 0.00 0.02 + 0.02 0.05 0.00 0.52 0.49 0.52 + 0.03 0.66 0.38 0.39 0.35 0.38 + 0.00 0.52 0.28 0.05 0.05 0.05 unch 0.00 0.15 0.04 0.12 0.00 0.10 unch 0.00 0.17 0.06 0.06 0.06 0.06 unch 0.00 0.13 0.05 0.10 0.08 0.10 + 0.02 0.17 0.07 0.40 0.37 0.39 + 0.01 0.74 0.31 0.53 0.50 0.52 + 0.02 0.92 0.42 0.10 0.10 0.10 unch 0.00 0.34 0.09 0.04 0.03 0.03 unch 0.00 0.08 0.02 0.05 0.00 0.05 unch 0.00 0.26 0.05 0.03 0.00 0.03 - 0.00 0.20 0.03 0.11 0.11 0.11 unch 0.00 0.15 0.07 0.99 0.89 0.89 - 0.11 1.28 0.00 1.21 1.11 1.11 - 0.09 1.59 0.94 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.39 0.30 0.32 + 0.03 0.39 0.10 0.26 0.23 0.23 + 0.03 0.26 0.08 3.25 3.03 3.12 + 0.04 6.87 2.74 0.06 0.00 0.06 unch 0.00 0.10 0.06 0.09 0.00 0.08 - 0.02 0.16 0.06 0.26 0.20 0.23 + 0.01 0.42 0.06 0.12 0.09 0.09 unch 0.00 0.20 0.02 0.27 0.00 0.27 + 0.01 0.34 0.14 0.18 0.18 0.18 unch 0.00 0.26 0.12 0.19 0.17 0.18 - 0.01 0.24 0.12 0.15 0.13 0.13 - 0.01 0.19 0.09 0.32 0.30 0.32 + 0.01 0.64 0.20 9.96 9.61 9.87 + 0.05 11.01 7.00 13.20 12.63 13.08 + 0.23 13.80 9.27 0.41 0.38 0.40 + 0.01 0.60 0.37 0.58 0.49 0.55 + 0.07 0.77 0.46 3.05 2.65 2.83 + 0.08 3.44 1.60 0.06 0.05 0.05 - 0.01 0.11 0.04 0.13 0.11 0.11 - 0.01 0.32 0.09 0.10 0.08 0.10 + 0.01 0.25 0.06 7.17 0.00 6.82 - 0.43 8.02 5.90

Pac Arc Res V 34 Pac Bay Mnrls V 48 Pac Bay Mnrls* O 0 Pac Booker Min V 46 Pac Booker Min* O 17 Pac Imperial V 1780 Pac Iron Ore V 50 Pac Ridge Expl V 162 Pac Ridge Expl* O 1 Pac Wildcat* O 285 Pacific Empire V 85 Pacific Rim 149 Pacific Rim* O 119 Pacific Silk V 40 Pacton Gold V 707 Paladin Energy* O 76 Palamina Corp V 421 Palamina Corp* O 73 Pan Am Silver* D 4927 Pan Am Silver T 1162 Pan Andean Min V 358 Pan Andean Min* O 7 Pan Global Res V 335 Pancontinental* O 8 Pancontinental V 540 Panex Res* O 329 Pangolin Dia V 69 Panoro Mnrls V 103 Pantheon Vent V 137 Para Resources V 393 Parallel Mng V 647 Parallel Mng * O 352 Paramount Gold* X 92 Paringa Res* O 23 Paringa Res* D 10 Parlane Res V 74 Pasinex Res 30 Patriot Gold* O 96 Peabody Enrgy* N 6839 Pedro Res V 1045 Pelangio Expl* O 2 Pelangio Expl V 339 Pele Mtn Res* O 3 Peloton Mnrls* O 37 Peloton Mnrls 212 Perseus Mng T 406 Pershing Gold T 63 Pershing Gold* D 205 Pershing Res* O 3 Peruvian Metal* O 1 Peruvian Metal V 85 Philippine Mtl V 13 Pine Cliff En T 434 Pinecrest Res V 118 Pistol Bay Mng V 250 Pivit Explor 104 PJSC Polyus Gd* O 1 PJX Res V 263 Plata Latina V 252 Plateau Energy* O 66 Plateau Energy V 259 Platinex Inc 283 Platinex Inc* O 42 Platinum Gp Mt T 90 Platinum Gp Mt* X 328

0.30 0.29 0.29 unch 0.00 0.45 0.20 0.08 0.00 0.08 - 0.01 0.28 0.06 0.05 0.05 0.05 unch 0.00 0.04 0.01 1.44 1.28 1.43 - 0.02 1.50 0.65 1.09 1.01 1.04 - 0.05 1.21 0.50 0.02 0.02 0.02 - 0.01 0.07 0.02 0.08 0.08 0.08 unch 0.00 0.15 0.03 0.06 0.04 0.05 + 0.01 0.07 0.04 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.00 0.00 0.00 unch 0.00 0.39 0.00 0.07 0.07 0.07 + 0.01 0.20 0.06 0.19 0.00 0.19 - 0.01 0.95 0.10 0.15 0.13 0.14 - 0.00 0.60 0.07 0.02 0.02 0.02 + 0.01 0.06 0.02 0.27 0.24 0.24 - 0.02 1.02 0.24 0.14 0.12 0.13 - 0.01 0.50 0.02 0.34 0.25 0.30 + 0.03 0.47 0.25 0.26 0.20 0.25 + 0.04 0.37 0.20 15.13 14.52 14.77 + 0.01 18.75 12.12 19.95 19.07 19.59 + 0.29 24.22 16.05 0.04 0.03 0.04 unch 0.00 0.13 0.03 0.02 0.02 0.02 unch 0.00 0.08 0.02 0.10 0.10 0.10 + 0.01 0.28 0.09 0.03 0.02 0.03 unch 0.00 0.07 0.02 0.04 0.04 0.04 unch 0.00 0.09 0.03 0.01 0.00 0.01 + 0.01 0.01 0.00 0.05 0.04 0.05 + 0.01 0.08 0.04 0.24 0.21 0.21 - 0.03 0.39 0.13 0.09 0.08 0.09 unch 0.00 0.12 0.07 0.20 0.18 0.19 - 0.01 0.25 0.12 0.05 0.04 0.05 unch 0.00 0.08 0.02 0.03 0.03 0.03 + 0.00 0.05 0.03 1.00 0.95 0.98 - 0.02 1.64 0.81 0.13 0.00 0.12 - 0.00 0.41 0.11 9.02 4.70 4.70 - 1.80 10.38 5.37 0.07 0.00 0.07 - 0.01 0.30 0.03 0.08 0.08 0.08 - 0.01 0.22 0.06 0.08 0.06 0.08 + 0.02 0.15 0.04 37.37 29.40 29.73 - 6.04 47.84 29.08 0.25 0.20 0.22 + 0.03 0.30 0.17 0.26 0.25 0.25 - 0.01 0.27 0.02 0.36 0.29 0.29 - 0.08 0.60 0.12 0.07 0.07 0.07 unch 0.00 0.25 0.02 0.07 0.07 0.07 + 0.01 0.12 0.06 0.10 0.08 0.10 - 0.01 0.15 0.03 0.37 0.34 0.35 - 0.03 0.50 0.25 1.61 1.52 1.58 + 0.01 2.91 1.06 1.23 1.15 1.17 - 0.06 2.41 0.80 0.02 0.02 0.02 unch 0.00 0.09 0.01 0.02 0.02 0.02 + 0.00 0.08 0.02 0.04 0.03 0.04 unch 0.00 0.10 0.03 0.04 0.00 0.04 - 0.01 0.09 0.04 0.26 0.24 0.24 - 0.01 0.45 0.22 0.27 0.23 0.25 + 0.02 0.32 0.18 0.04 0.04 0.04 unch 0.00 0.14 0.03 0.10 0.07 0.09 - 0.01 0.19 0.07 44.36 0.00 44.32 - 2.93 48.00 29.00 0.30 0.00 0.28 - 0.01 0.36 0.11 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.56 0.47 0.56 + 0.08 1.27 0.42 0.76 0.61 0.73 + 0.12 1.69 0.55 0.06 0.00 0.05 - 0.01 0.21 0.03 0.04 0.04 0.04 unch 0.00 0.15 0.04 1.95 1.74 1.79 - 0.10 5.30 1.15 1.46 1.32 1.34 - 0.13 4.00 0.83

P-Q

Week

12-month

Exc Volume High Low Last Change High Low

Plato Gold V 647 Playfair Mng V 111 Playfair Mng* O 4 PolyMet Mng* X 1457 PolyMet Mng T 80 Portage Res* O 410 Portofino Res V 44 O 26 Potash Ridge* Potash Ridge T 377 Power Group V 4655 Power Metals* O 170 Power Metals V 540 PowerOre V 262 PPX Mining* O 250 PPX Mining V 1850 Precipitate Gl* O 33 Precipitate Gl V 296 Premier Gold M T 2756 Premium Expl* O 5 Pretium Res* N 6620 Pretium Res T 2664 Primary Energy 3482 Prism Res V 53 Prize Mng* O 134 ProAm Expl V 58 O 225 Probe Metals* Probe Metals V 150 Prog Planet V 89 Prog Planet* O 4 1 Promithian Gl * O O 504 Prophecy Coal* Prophecy Coal T 2159 Prosper Gold V 111 Prospero Silvr V 156 O 106 Prospero Silvr* Provenance Gld 48 Providence V 104 O 2 Providence Gld* PUF Vent Inc * O 3267 Puma Expl V 2129 Puma Expl* O 262 O 0 Pure Alumina* Pure Energy* O 161 Pure Energy V 189 Pure Gold Mg* O 665 Pure Gold Mg V 1858 Pure Nickel* O 8 Pure Nickel V 165 Purepoint Uran V 2787 Q-Gold Res* O 0 Q-Gold Res V 56 QC Precious V 121 QC Precious * O 7 QMC Quantum Ml V 262 QMC Quantum Ml* O 212 QMX Gold* O 13 QMX Gold V 765 Quadro Res V 256 Quantum Cobalt 113 0 Quartz Mtn Res V Quartz Mtn Res* O 0 Quaterra Res V 259 Quaterra Res* O 317 98 Quest Rare Mnl* O Quinto Res V 518

0.02 0.02 0.02 - 0.01 0.06 0.02 0.04 0.00 0.03 - 0.01 0.09 0.02 0.02 0.00 0.02 - 0.00 0.06 0.01 0.75 0.71 0.74 - 0.01 1.27 0.71 0.98 0.95 0.98 unch 0.00 1.60 0.95 0.00 0.00 0.00 - 0.00 0.02 0.00 0.08 0.00 0.08 + 0.01 0.42 0.06 0.03 0.03 0.03 - 0.00 0.10 0.02 0.05 0.04 0.05 + 0.01 0.12 0.03 0.17 0.02 0.13 - 0.13 2.50 0.10 0.15 0.13 0.14 - 0.01 0.55 0.10 0.20 0.18 0.19 unch 0.00 0.70 0.15 0.09 0.07 0.08 unch 0.00 0.45 0.05 0.06 0.06 0.06 unch 0.00 0.08 0.05 0.09 0.08 0.08 unch 0.00 0.11 0.06 0.09 0.07 0.09 + 0.01 0.12 0.03 0.11 0.10 0.10 unch 0.00 0.15 0.04 1.80 1.66 1.78 + 0.05 3.64 1.39 0.00 0.00 0.00 unch 0.00 0.02 0.00 7.91 7.50 7.70 - 0.09 9.84 6.17 10.44 9.95 10.22 + 0.01 12.87 7.93 0.03 0.02 0.02 - 0.01 0.15 0.02 0.03 0.03 0.03 unch 0.00 0.10 0.03 0.03 0.02 0.02 - 0.00 0.27 0.02 0.04 0.04 0.04 unch 0.00 0.04 0.02 0.90 0.83 0.87 - 0.02 1.22 0.68 1.22 1.07 1.13 - 0.03 1.55 0.91 0.04 0.00 0.04 unch 0.00 0.10 0.04 0.04 0.04 0.04 unch 0.00 0.08 0.02 0.06 0.00 0.06 unch 0.00 0.10 0.01 0.19 0.14 0.16 - 0.03 2.80 0.09 0.25 0.20 0.21 - 0.04 0.74 0.11 0.11 0.10 0.11 + 0.02 0.18 0.06 0.07 0.06 0.07 unch 0.00 0.15 0.05 0.05 0.00 0.05 + 0.00 0.11 0.04 0.19 0.15 0.19 + 0.06 0.39 0.10 0.14 0.13 0.14 + 0.02 0.19 0.09 0.00 0.00 0.09 unch 0.00 0.15 0.08 0.25 0.22 0.22 - 0.01 0.25 0.06 0.04 0.03 0.04 + 0.01 0.11 0.03 0.03 0.02 0.02 - 0.01 0.08 0.02 0.02 0.00 0.02 + 0.00 0.12 0.02 0.08 0.07 0.08 + 0.01 0.33 0.03 0.10 0.09 0.10 + 0.01 0.41 0.05 0.62 0.57 0.59 + 0.02 0.62 0.38 0.81 0.75 0.79 + 0.03 0.81 0.50 0.01 0.01 0.01 - 0.00 0.03 0.00 0.02 0.00 0.02 + 0.01 0.04 0.01 0.10 0.08 0.09 unch 0.00 0.11 0.06 0.00 0.00 0.15 unch 0.00 0.17 0.07 0.20 0.19 0.20 + 0.01 0.24 0.10 0.29 0.26 0.29 + 0.04 0.60 0.25 0.21 0.19 0.20 - 0.00 0.33 0.19 0.30 0.28 0.30 + 0.01 0.95 0.16 0.23 0.21 0.21 - 0.02 0.76 0.12 0.06 0.06 0.06 unch 0.00 0.20 0.03 0.09 0.07 0.08 - 0.01 0.25 0.05 0.03 0.03 0.03 unch 0.00 0.09 0.03 0.06 0.05 0.06 - 0.01 0.61 0.04 0.00 0.00 0.29 unch 0.00 0.80 0.27 0.00 0.00 0.31 unch 0.00 0.70 0.31 0.11 0.09 0.11 + 0.01 0.11 0.05 0.09 0.07 0.08 + 0.01 0.09 0.04 0.00 0.00 0.00 - 0.00 0.01 0.00 0.07 0.05 0.06 + 0.01 0.14 0.02

Rackla Mtls* O 1 Rackla Mtls V 1 Radisson Mng V 392 Radius Gold V 352 O 1 Rainforest Res* 2 Rainy Mtn Royl* O Rainy Mtn Royl V 153 Rambler Metals* O 60 O 73 Rare Element* V 71 Rathdowney Res Ravencrest Res 744 Red Eagle Mng* O 254 15 Red Moon Res V Red Pine Expl V 1864 Redstar Gold V 1051 O 303 Redstar Gold* Redzone Res V 127 O 97 Redzone Res* Regulus Res V 229 V 95 Remington Res O 62 Renaissance Gd* Renaissance Gd V 182 Renforth Res 491 Resolve Vent V 107 Resource Cap V 340 Reunion Gold V 1871 Revelo Res V 509 33 Revival Gold * O Revival Gold V 129 Rhyolite Res V 24 Richmond Mnls V 467 O 46 Richmond Mnls* Ridgestone M’g V 69 Ridgestone M’g* O 5 Rift Valley 346 V 25 Riley Resource Rimrock Gold* O 152055 Rio Tinto* O 2 Rio Tinto* N 20894 Rio Tinto* O 48 Rio2 Limited V 171 Rio2 Limited* O 13 Rise Gold Corp* O 769 Rise Gold Corp 1843 Riverside Res* O 55 Riverside Res V 360 Rizal Res V 645 RJK Explor V 1457 RJK Explor* O 17 Robex Res V 742 Rochester Res V 96 Rochester Res* O 3 3 Rock Tech Lith* O Rock Tech Lith V 34 Rockcliff Met V 1256 Rockcliff Met* O 41 Rockex Mng 300 Rockhaven Res V 110 Rockridge Res V 158 Rockshield Cap* O 1 Rockshield Cap 79 Rockwealth Res V 127 Rockwell Diam* O 10 Rodinia Lithm V 95 Rogue Res* O 22 Rogue Res V 119 Rojo Res V 288 Rokmaster Res V 191 Romios Gold Rs V 713 Romios Gold Rs* O 110 RosCan Gold V 884 Rosita Mg Corp* O 18 Rosita Mg Corp V 104 Rotation Mnls V 136 Roughrider Exp V 14 Rover Metals V 872 Roxgold T 1267 Roxgold* O 171 Royal Gold* D 2538 Royal Mines &M* O 135 Royal Nickel* O 1825 21162 Royal Nickel T Royal Rd Mnrls V 38 Royal Std Mnrl* O 3 RT Minerals V 1 RT Minerals* O 11 RTG Mining T 35 Rubicon Mnrls* O 125 Rubicon Mnrls T 101 Rugby Mng V 94 17 Running Fox Rs* O Running Fox Rs V 81 Rupert Res V 97 Rusoro Mng* O 444 Rusoro Mng V 3650

0.06 0.06 0.06 - 0.00 0.11 0.05 0.00 0.00 0.08 unch 0.00 0.15 0.06 0.10 0.10 0.10 unch 0.00 0.19 0.09 0.11 0.10 0.10 - 0.01 0.19 0.09 6.10 0.00 6.10 + 1.10 9.45 3.50 0.01 0.01 0.01 unch 0.00 0.05 0.01 0.02 0.02 0.02 + 0.01 0.08 0.02 0.02 0.01 0.02 + 0.01 0.07 0.01 0.08 0.06 0.07 - 0.01 0.23 0.03 0.13 0.12 0.13 + 0.01 0.18 0.04 0.68 0.60 0.61 - 0.06 1.55 0.38 0.00 0.00 0.00 unch 0.00 0.24 0.00 0.09 0.09 0.09 unch 0.00 0.16 0.05 0.06 0.05 0.05 - 0.01 0.10 0.04 0.03 0.02 0.03 unch 0.00 0.06 0.02 0.02 0.02 0.02 - 0.00 0.04 0.01 0.16 0.10 0.16 + 0.06 0.64 0.07 0.12 0.06 0.12 + 0.06 0.51 0.06 1.73 1.55 1.70 + 0.22 2.30 1.25 0.20 0.20 0.20 unch 0.00 0.40 0.20 0.15 0.13 0.14 + 0.01 0.23 0.11 0.19 0.17 0.18 - 0.02 0.29 0.15 0.05 0.04 0.05 unch 0.00 0.06 0.02 0.11 0.09 0.10 + 0.01 0.20 0.07 0.02 0.01 0.01 unch 0.00 0.11 0.01 0.19 0.17 0.19 + 0.02 0.23 0.11 0.02 0.02 0.02 unch 0.00 0.06 0.01 0.65 0.61 0.64 - 0.01 0.73 0.42 0.85 0.78 0.84 - 0.01 0.99 0.54 0.15 0.15 0.15 unch 0.00 0.29 0.15 0.03 0.03 0.03 + 0.01 0.06 0.02 0.02 0.02 0.02 unch 0.00 0.03 0.02 0.24 0.18 0.18 - 0.06 0.32 0.19 0.19 0.16 0.16 - 0.03 0.21 0.16 0.10 0.08 0.09 - 0.01 0.13 0.05 0.15 0.15 0.15 unch 0.00 0.41 0.10 0.00 0.00 0.00 - 0.00 0.00 0.00 64.59 64.59 64.59 unch 0.00 65.30 50.48 57.11 55.57 56.03 + 0.06 60.72 44.62 56.00 0.00 54.40 + 0.35 60.00 43.47 0.55 0.51 0.52 - 0.02 1.15 0.42 0.42 0.25 0.39 - 0.02 0.81 0.25 0.10 0.07 0.09 + 0.01 0.12 0.04 0.12 0.10 0.11 + 0.02 0.15 0.05 0.13 0.11 0.12 + 0.00 0.42 0.10 0.17 0.16 0.17 + 0.01 0.33 0.13 0.03 0.03 0.03 unch 0.00 0.05 0.01 0.08 0.05 0.06 + 0.02 0.23 0.04 0.04 0.04 0.04 unch 0.00 0.13 0.00 0.08 0.07 0.07 - 0.01 0.12 0.07 0.05 0.00 0.04 - 0.01 0.08 0.03 0.04 0.04 0.04 + 0.00 0.06 0.02 0.65 0.64 0.64 - 0.01 1.31 0.64 0.84 0.00 0.83 - 0.03 1.72 0.76 0.15 0.10 0.13 - 0.03 0.18 0.07 0.11 0.09 0.11 + 0.00 0.13 0.06 0.04 0.03 0.03 - 0.01 0.10 0.01 0.16 0.16 0.16 + 0.01 0.19 0.09 0.31 0.28 0.30 + 0.02 0.34 0.20 0.09 0.09 0.09 unch 0.00 0.40 0.06 0.11 0.10 0.10 - 0.01 0.50 0.09 0.16 0.12 0.16 + 0.04 0.24 0.11 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.07 0.00 0.07 + 0.01 0.36 0.05 0.06 0.00 0.06 - 0.03 0.27 0.06 0.08 0.07 0.07 - 0.01 0.32 0.07 0.15 0.13 0.13 - 0.01 0.30 0.10 0.06 0.05 0.05 - 0.01 0.18 0.05 0.05 0.04 0.05 - 0.02 0.09 0.04 0.05 0.03 0.03 - 0.02 0.07 0.02 0.17 0.14 0.16 - 0.01 0.20 0.05 0.02 0.01 0.02 + 0.00 0.05 0.01 0.03 0.00 0.03 - 0.01 0.11 0.03 0.17 0.13 0.17 + 0.03 0.39 0.07 0.08 0.08 0.08 unch 0.00 0.25 0.07 0.07 0.05 0.07 + 0.01 0.11 0.03 0.87 0.84 0.86 unch 0.00 1.35 0.72 0.66 0.63 0.63 - 0.03 1.02 0.55 89.00 84.53 86.87 unch 0.00 98.53 70.16 0.00 0.00 0.00 - 0.00 0.01 0.00 0.57 0.45 0.55 + 0.09 0.90 0.05 0.75 0.59 0.72 + 0.12 1.18 0.07 0.08 0.00 0.07 - 0.01 0.17 0.06 1.80 1.69 1.69 - 0.06 3.14 0.01 0.00 0.00 0.08 unch 0.00 0.55 0.05 0.07 0.05 0.05 - 0.01 0.13 0.00 0.13 0.13 0.13 - 0.01 1.03 0.95 0.98 - 0.01 1.26 0.74 1.32 1.25 1.30 + 0.01 1.73 1.00 0.18 0.18 0.18 unch 0.00 0.43 0.14 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.02 0.02 0.02 unch 0.00 0.04 0.01 1.05 0.99 0.99 - 0.05 1.46 0.75 0.05 0.05 0.05 - 0.00 0.32 0.04 0.07 0.06 0.06 - 0.01 0.42 0.06

Sabina Gd&Slvr T 567 Sabina Gd&Slvr* O 189 Sable Res* O 60 Sable Res V 420 Sage Gold* O 1 Sailfish Rylty V 18 Saint Jean* O 79 Saint Jean V 823 Salazar Res V 201 Salt Lake Pot* O 4

1.38 1.31 1.36 + 0.02 1.90 1.11 1.05 1.00 1.02 - 0.02 1.51 0.85 0.16 0.13 0.16 + 0.02 0.28 0.12 0.22 0.17 0.18 + 0.01 0.37 0.14 0.00 0.00 0.00 - 0.00 0.09 0.00 1.05 1.04 1.05 + 0.10 2.34 0.70 0.03 0.02 0.03 - 0.00 0.05 0.01 0.04 0.03 0.04 + 0.01 0.16 0.02 0.13 0.11 0.13 + 0.01 0.17 0.10 0.33 0.32 0.33 - 0.01 0.47 0.31

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Sama Res V 644 Sama Res* O 114 Samco Gold V 290 Samex Mng* O 231 71 San Gold Corp* O 58 San Marco Res* O 233 San Marco Res V V 913 Sanatana Diam Sandfire Res V 63 Sandfire Res* O 85 O 412 Sandspring Res* V 3374 Sandspring Res T 4417 Sandstorm Gold X 8529 Sandstorm Gold* Santa Fe Gold* O 1328 V 926 Santacruz Silv Sarama Res V 660 Sarissa Res* O 2158 Satori Res V 198 Saturn Mnrls V 900 Savary Gold V 447 Savary Gold* O 500 Saville Res V 773 O 127 Scandium Intl* 213 Scandium Intl T Scorpio Gold V 3104 Scotch Creek 125 ScoZinc Mg V 52 ScoZinc Mg* O 18 Seabridge Gld T 247 Seabridge Gld* N 1145 Search Mnls V 387 Searchlight* O 63 O 409 SearchlightMin* V 587 SearchlightRes Secova Mtls* O 0 Secova Mtls V 1429 Sego Res V 698 Select Sands V 177 T 3657 Semafo Serabi Gold T 1 Serabi Gold* O 0 Serengeti Res V 1030 Shamrock Ent 64 O 1 Shear Diamonds* Sherritt Intl T 3967 V 25 Shoshoni Gold 30818 N Sibanye-Stillw* O 0 Sibanye-Stillw* O 2264 Sidney Resrces* Sienna Res* O 30 Sienna Res V 550 74 Sierra Madre D V Sierra Metals T 21 Sierra Metals* X 115 V 37 Sigma Lithium O 246 Signature Res* Signature Res V 114 63 Silver Bear Rs* O Silver Bear Rs T 1099 Silver Bull Re* O 379 306 Silver Bull Re T Silver Grail V 43 Silver Hill* O 1 5 Silver Mtn Mns V O 5 Silver Predatr* Silver Predatr V 105 Silver Range* O 0 Silver Range V 72 Silver Scott* O 5 Silver Spruce V 605 Silver Viper V 88 T 1365 Silvercorp Met X 1654 Silvercorp Met* SilverCrest V 395 SilverCrest* X 402 O 60 Silverstar Res* Sirios Res* O 113 Sirios Res V 2008 Sitka Gold 172 Sixty North 16 Skeena Res* O 135 Skeena Res V 726 V 977 Skyharbour Res O 510 Skyharbour Res* Slam Explor* O 4 Slam Explor V 369 57 Slave Lake Zn V 406 Sojourn Explor O 448 Sokoman Iron* Sokoman Iron V 7819 SolGold plc* O 138 SolGold plc T 53 T 115 Solitario Ex&R X 195 Solitario Ex&R* Solstice Gold V 475 342 Sonora Gld & S V Sonoro Mtls* O 35 Sonoro Mtls V 107 South32* O 508 Southern Arc* O 14 Southern Arc V 9 N 5129 Southern Copp* O 96 Southern Silvr* Southern Silvr V 206 90 Spanish Mtn Gd* O 166 Spanish Mtn Gd V Sparton Res V 565 Sparton Res* O 5 O 1412 Spearmint Res* Spearmint Res 1733 Spey Resources 807 Sphinx Res V 1215 214 Sprott Res Hld T 791 Spruce Ridge R V SRG Graphite V 173 SSR Mining* D 3219 SSR Mining T 1175 St Augustine T 485 St-Georges Eco 2075 O 69 St-Georges Eco* V 74 Stakeholdr Gld O 2 Stakeholdr Gld* O 1648 Standard Graph* Standard Lith V 638 O 110 Standard Metal* Stans Energy V 235 O 146 Stans Energy* O 330 Star Diamond* Star Diamond T 1449 Star Gold* O 22 Starcore Intl T 136 O 0 Steele Oceanic* Stellar Africa* O 13 Stellar Africa V 50 Stelmine Can V 84 Steppe Gold T 129 Sterling Grp* O 3 T 468 Stornoway Diam O 0 Stornoway Diam* Stratabd Mnr V 1298 Strateco Res* O 100 O 146 Strategic Metl* Strategic Metl V 132 Strategic Res V 0 Stria Lithium V 82 V 191 Strikepoint Gd O 65 Strikepoint Gd* V 1793 Strongbow Expl O 50 Strongbow Expl* Stroud Res V 167 Sulliden Mng T 525 Sun Metals V 4512 Suncor Energy T 19196 N 20285 Suncor Energy* V 924 Sunvest Mnrls O 0 Sunvest Mnrls* O 198 Superior Gold* Superior Gold V 1260 O 35 Supreme Metal* Supreme Metals 388 50 Surge Copper * O Surge Copper V 97 Surge Explor* O 511 Surge Explor V 1288 Sutter Gold* O 141 Sutter Gold V 158 Syrah Res* O 160

0.22 0.30 0.27 0.30 + 0.03 0.47 0.17 0.22 0.20 0.22 + 0.01 0.37 0.02 unch 0.00 0.07 0.03 0.02 0.03 0.00 0.00 0.00 0.00 + 0.00 0.00 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.08 0.07 0.07 - 0.01 0.23 0.06 0.10 0.09 0.09 - 0.01 0.30 0.08 0.02 unch 0.00 0.06 0.05 0.05 0.05 0.06 0.10 0.08 0.10 + 0.01 0.11 0.05 0.08 0.07 0.08 - 0.00 0.10 0.13 0.22 0.19 0.21 + 0.01 0.28 0.17 0.29 0.25 0.28 + 0.02 0.35 4.60 7.36 6.76 7.32 + 0.46 7.14 3.48 5.55 5.14 5.52 + 0.27 5.38 0.12 0.10 0.12 - 0.00 0.16 0.04 0.05 unch 0.00 0.17 0.06 0.06 0.06 0.05 0.08 0.05 0.07 + 0.02 0.15 0.00 0.00 0.00 0.00 - 0.00 0.00 0.04 0.07 0.00 0.06 + 0.01 0.15 0.12 0.19 0.16 0.17 - 0.01 0.30 0.04 unch 0.00 0.08 0.05 0.05 0.05 0.02 unch 0.00 0.05 0.04 0.04 0.04 0.04 0.05 0.04 0.04 - 0.01 0.11 0.11 0.15 0.13 0.15 + 0.02 0.24 0.20 0.18 0.19 + 0.01 0.32 0.13 0.01 0.04 0.03 0.04 + 0.01 0.04 0.12 unch 0.00 0.13 0.12 0.12 0.12 0.41 0.43 0.41 0.41 - 0.06 1.50 0.30 0.31 0.30 0.30 - 0.00 1.18 12.89 18.25 17.65 18.11 - 0.11 19.84 10.20 13.90 13.28 13.66 - 0.27 15.30 0.03 0.06 0.04 0.04 - 0.01 0.09 0.01 0.03 0.03 0.03 + 0.01 0.16 0.01 0.01 0.01 0.01 + 0.00 0.05 0.02 0.01 0.23 0.03 - 0.04 0.03 0.01 unch 0.00 0.10 0.00 0.00 0.02 0.02 unch 0.00 0.25 0.04 0.04 0.04 0.03 0.05 0.03 0.04 + 0.01 0.07 0.07 0.09 0.08 0.08 - 0.01 0.51 2.24 0.04 4.14 3.05 2.80 2.98 + 0.49 unch 0.00 1.60 0.70 0.00 0.70 0.03 unch 0.00 0.82 0.00 0.00 0.65 0.12 0.36 0.30 0.36 + 0.06 0.60 0.02 unch 0.00 0.08 0.03 0.02 0.03 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.37 0.46 0.42 0.44 + 0.01 1.35 0.03 unch 0.00 0.08 0.03 0.03 0.03 2.02 4.36 3.59 4.30 + 0.62 4.60 0.53 unch 0.00 1.07 0.00 0.00 0.72 0.00 unch 0.00 0.01 0.00 0.00 0.00 0.03 0.04 0.04 0.04 + 0.00 0.26 0.04 0.06 0.05 0.06 + 0.01 0.32 0.02 0.02 0.02 unch 0.00 0.02 0.02 2.11 2.37 2.27 2.27 - 0.02 3.85 1.53 1.83 1.67 1.73 - 0.01 3.00 1.20 2.01 1.75 2.00 + 0.06 2.40 0.04 0.06 0.06 0.06 + 0.00 0.11 0.05 0.09 0.08 0.09 + 0.01 0.14 0.14 0.11 0.14 - 0.00 0.23 0.10 0.19 0.13 0.14 - 0.04 0.30 0.11 0.13 0.11 0.11 - 0.01 0.20 0.09 0.16 0.15 0.15 - 0.01 0.27 0.11 0.03 0.05 0.04 0.05 + 0.01 0.10 0.08 unch 0.00 0.25 0.08 0.08 0.08 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.05 unch 0.00 0.11 0.06 0.06 0.06 0.07 0.10 0.07 0.07 - 0.02 0.14 0.06 unch 0.00 0.15 0.00 0.00 0.08 0.08 unch 0.00 0.19 0.13 0.12 0.13 0.01 unch 0.00 0.10 0.03 0.02 0.03 0.02 0.03 0.03 0.03 + 0.01 0.07 0.07 0.14 0.12 0.13 - 0.01 0.25 2.43 3.11 2.88 2.98 - 0.03 4.02 1.83 2.37 2.18 2.27 - 0.04 3.12 1.93 4.99 4.70 4.94 + 0.04 4.99 1.53 3.87 3.54 3.72 - 0.05 3.82 0.01 0.04 0.03 0.03 + 0.01 0.28 0.09 0.20 0.17 0.20 + 0.03 0.24 0.12 0.28 0.19 0.20 - 0.01 0.30 0.04 0.10 0.08 0.10 + 0.01 0.30 0.05 0.08 0.05 0.05 - 0.02 0.24 0.20 0.22 0.20 0.21 - 0.02 0.59 0.27 0.29 0.27 0.27 - 0.03 0.75 0.35 0.39 0.35 0.38 + 0.01 0.57 0.26 0.30 0.26 0.28 - 0.00 0.44 0.01 unch 0.00 0.05 0.02 0.02 0.02 0.02 0.03 0.02 0.02 - 0.01 0.06 0.13 0.11 0.13 + 0.01 0.13 0.06 0.07 0.10 0.09 0.10 - 0.01 0.29 0.00 0.11 0.08 0.09 - 0.02 0.45 0.03 0.14 0.11 0.13 - 0.01 0.58 0.27 0.50 0.00 0.46 - 0.03 0.58 0.32 0.64 0.61 0.62 + 0.02 0.71 0.26 0.46 0.37 0.40 + 0.04 0.71 0.19 0.35 0.28 0.31 + 0.03 0.58 0.11 0.13 0.11 0.12 - 0.01 0.38 0.07 0.07 0.07 unch 0.00 0.14 0.05 0.07 0.14 0.13 0.14 - 0.01 0.16 0.07 0.18 0.17 0.17 - 0.01 0.20 2.16 2.56 2.40 2.55 + 0.07 3.10 0.20 0.40 0.00 0.40 + 0.03 0.46 0.27 0.55 0.48 0.53 + 0.05 0.60 29.01 34.57 32.08 32.54 - 0.93 58.09 0.08 0.17 0.00 0.14 - 0.01 0.29 0.11 0.22 0.19 0.21 + 0.02 0.36 0.07 0.05 0.06 + 0.00 0.11 0.03 0.09 0.08 0.09 + 0.01 0.13 0.05 0.04 0.08 0.06 0.06 - 0.01 0.12 0.03 0.04 0.03 0.04 + 0.01 0.09 0.00 0.03 0.00 0.02 - 0.01 0.09 0.02 unch 0.00 0.11 0.04 0.03 0.03 0.07 unch 0.00 0.16 0.11 0.09 0.10 0.03 unch 0.00 0.08 0.06 0.05 0.05 1.20 1.03 1.20 + 0.15 2.90 0.98 0.06 0.06 0.06 - 0.01 0.08 0.02 0.64 0.99 0.82 0.84 - 0.01 2.00 14.12 13.58 14.01 + 0.24 14.10 7.64 18.73 17.88 18.56 + 0.51 18.58 9.70 0.02 unch 0.00 0.03 0.02 0.00 0.02 0.04 0.14 0.11 0.13 + 0.01 0.55 0.03 0.10 0.08 0.09 + 0.01 0.39 0.05 0.05 0.05 0.05 + 0.01 0.42 0.03 0.03 0.03 0.03 + 0.00 0.33 0.29 0.36 0.31 0.33 - 0.02 1.13 0.80 1.36 1.15 1.16 - 0.19 2.47 0.02 0.05 0.02 0.05 - 0.00 0.23 0.02 0.03 0.02 0.03 + 0.01 0.05 0.01 0.03 0.02 0.03 + 0.01 0.04 0.12 0.19 0.16 0.17 - 0.02 0.29 0.17 0.24 0.22 0.22 - 0.02 0.38 0.02 0.04 0.04 0.04 - 0.01 0.30 0.09 0.12 0.10 0.10 - 0.01 0.25 0.55 unch 0.00 1.98 0.00 0.00 0.55 0.01 unch 0.00 0.05 0.02 0.02 0.02 0.01 0.02 0.02 0.02 - 0.01 0.06 0.09 0.13 0.12 0.13 + 0.02 0.26 0.60 0.82 0.70 0.75 - 0.07 2.01 0.02 unch 0.00 0.10 0.02 0.02 0.02 0.17 unch 0.00 0.62 0.20 0.20 0.20 0.12 unch 0.00 0.48 0.00 0.00 0.15 0.02 0.03 0.02 0.02 - 0.01 0.08 0.00 unch 0.00 0.01 0.00 0.00 0.00 0.22 0.29 0.25 0.29 + 0.02 0.40 0.31 0.39 0.34 0.38 + 0.03 0.49 0.16 unch 0.00 0.30 0.00 0.00 0.23 0.02 0.04 0.03 0.04 + 0.01 0.06 0.11 0.13 0.12 0.13 - 0.01 0.29 0.08 0.11 0.09 0.10 - 0.01 0.23 0.10 0.12 0.10 0.10 - 0.04 0.28 0.07 0.09 0.09 0.09 - 0.00 0.22 0.01 unch 0.00 0.02 0.02 0.00 0.02 0.09 0.11 0.10 0.10 - 0.02 0.47 0.12 0.46 0.37 0.40 - 0.04 0.46 35.53 44.10 42.20 42.81 + 0.44 55.47 25.81 33.41 31.88 32.24 - 0.16 42.55 0.03 0.04 0.03 0.03 - 0.01 0.14 0.02 unch 0.00 0.18 0.00 0.00 0.03 0.50 0.62 0.54 0.54 - 0.05 1.28 0.66 0.81 0.66 0.68 - 0.09 1.62 0.02 unch 0.00 0.03 0.03 0.03 0.03 0.02 0.03 0.03 0.03 + 0.01 0.08 0.06 0.06 0.06 unch 0.00 0.21 0.06 0.04 0.00 0.26 nch u 0.07 0.08 0.06 0.02 0.05 0.02 0.04 + 0.02 0.36 0.04 0.06 0.04 0.05 + 0.01 0.28 0.01 0.01 0.01 0.01 + 0.00 0.02 0.01 0.02 0.01 0.01 - 0.01 0.03 0.96 1.12 1.01 1.04 - 0.03 3.00

Tahoe Res* N 8325 Tahoe Res T 1430 Taiga Gold 58 Taiga Gold* O 65

2.18 3.93 3.75 3.82 + 0.01 5.63 2.88 5.18 4.93 5.08 + 0.09 7.27 0.07 0.13 0.10 0.10 - 0.03 0.21 0.05 0.09 0.07 0.07 - 0.01 0.16

2019-02-12 12:03 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / FEBRUARY 18–MARCH 3, 2019

Week

12-month

Exc Volume High Low Last Change High Low

Taku Gold 101 Taku Gold* O 1 Talmora Diamd 55 Talon Metals T 17 O 10134 Tamino Mnrls* Tanager Energy V 95 Tango Mining V 6564 V 138 Tanqueray Expl Tantalex Res 654 Tanzania Rlty T 118 Tanzania Rlty* X 1181 Taranis Res V 107 Taranis Res* O 85 Tarku Res V 28 Tartisan Nick* O 45 Tartisan Nick 761 Tasca Res V 1796 Tasca Res* O 1 Taseko Mines T 1133 X 2162 Taseko Mines* Tearlach Res V 249 Teck Res T 5961 T 11 Teck Res Teck Res* N 13208 19 Telson Res * O Telson Res V 25 Tembo Gold V 146 Tembo Gold* O 31 Teranga Gold T 476 Teranga Gold* O 92 Teras Res V 242 Teras Res* O 63 Terraco Gold V 293 Terrax Mnrls* O 119 Terrax Mnrls V 566 Terreno Res V 21 Teslin Rvr Res V 538 Tesoro Mnrls V 13 Tesoro Mnrls* O 0 Tethyan Res V 1046 Teuton Res V 98 Teuton Res* O 5 Texas Mineral* O 38 Themac Res V 1 Thor Expl V 39 Thunder Mtn Gd* O 14 Thunderstruck V 631 Thunderstruck* O 223 Tiger Intl V 10 Till Capital V 0 Timberline Res V 25 Timberline Res* O 70 Tinka Res V 420 Tinka Res* O 90 Tisdale Res V 12 Titan Mining T 123 Titan Mining* O 5 Titanium Corp V 67 TMAC Resource* O 12 TMAC Resources T 188 TNR Gold V 642 Toachi Mg Inc V 250 TomaGold V 128 Tombstone Expl* O 2196 Tonogold Res* O 515 Torex Gold* O 16 Torex Gold T 1195 Torq Resources* O 31 Torq Resources V 207 Tower Res* O 14 Tower Res V 865 Transatlantic V 22 Transition Met V 316

0.05 0.00 0.05 - 0.02 0.15 0.04 0.04 0.03 0.03 - 0.00 0.12 0.02 0.03 0.03 0.03 unch 0.00 0.06 0.01 0.09 0.09 0.09 unch 0.00 0.12 0.05 0.00 0.00 0.00 - 0.00 0.00 0.00 0.08 0.07 0.08 + 0.02 0.14 0.03 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.70 0.64 0.64 - 0.06 1.32 0.33 0.06 0.05 0.06 + 0.02 0.20 0.03 0.80 0.69 0.80 + 0.02 0.89 0.34 0.62 0.53 0.61 + 0.02 0.68 0.25 0.09 0.07 0.09 - 0.01 0.12 0.05 0.07 0.06 0.07 - 0.01 0.10 0.03 0.04 0.04 0.04 unch 0.00 0.06 0.02 0.06 0.06 0.06 - 0.00 0.09 0.04 0.07 0.06 0.06 - 0.01 0.16 0.02 0.04 0.03 0.03 - 0.01 0.13 0.04 0.03 0.03 0.03 unch 0.00 0.10 0.02 0.82 0.74 0.80 + 0.04 2.37 0.60 0.62 0.57 0.61 + 0.03 1.89 0.44 0.05 0.05 0.05 unch 0.00 0.05 0.03 31.75 30.28 30.60 - 0.16 39.08 23.90 31.60 30.50 30.98 + 0.33 39.00 23.89 24.09 22.94 23.09 - 0.44 30.80 18.17 0.30 0.00 0.30 + 0.02 0.74 0.25 0.42 0.38 0.38 unch 0.00 1.00 0.35 0.03 0.02 0.02 unch 0.00 0.04 0.01 0.02 0.02 0.02 + 0.00 0.03 0.01 4.22 3.96 4.02 - 0.08 5.63 3.18 3.18 3.00 3.06 - 0.10 4.33 2.40 0.06 0.05 0.06 + 0.01 0.10 0.04 0.05 0.04 0.05 + 0.00 0.08 0.03 0.07 0.06 0.06 - 0.01 0.10 0.06 0.34 0.30 0.32 - 0.01 0.45 0.25 0.45 0.39 0.43 - 0.01 0.56 0.33 0.05 0.04 0.04 unch 0.00 0.09 0.02 0.48 0.46 0.47 + 0.01 0.57 0.33 0.05 0.05 0.05 unch 0.00 0.11 0.05 0.00 0.00 0.04 unch 0.00 0.05 0.04 0.44 0.34 0.38 - 0.05 0.45 0.14 0.14 0.13 0.14 + 0.01 0.24 0.10 0.11 0.11 0.11 unch 0.00 0.18 0.07 0.25 0.21 0.25 + 0.03 0.35 0.10 0.00 0.00 0.04 unch 0.00 0.10 0.03 0.18 0.14 0.18 + 0.01 0.22 0.13 0.09 0.07 0.08 unch 0.00 0.22 0.04 0.08 0.07 0.08 unch 0.00 0.12 0.04 0.07 0.05 0.05 + 0.00 0.15 0.03 0.13 0.10 0.10 - 0.03 0.17 0.04 2.14 0.00 2.14 + 0.03 5.01 1.74 0.10 0.09 0.09 - 0.01 0.27 0.07 0.13 0.07 0.09 + 0.00 0.23 0.00 0.35 0.34 0.34 + 0.01 0.65 0.29 0.26 0.00 0.25 - 0.02 0.51 0.21 0.25 0.00 0.25 + 0.08 0.96 0.16 1.00 0.95 0.98 - 0.02 1.50 0.87 0.75 0.75 0.75 - 0.02 1.05 0.70 0.58 0.55 0.58 unch 0.00 1.15 0.48 5.29 0.00 4.71 - 0.59 7.17 3.07 6.72 6.08 6.33 - 0.48 9.73 3.95 0.05 0.03 0.05 + 0.02 0.06 0.03 0.10 0.08 0.10 + 0.02 0.20 0.07 0.05 0.05 0.05 unch 0.00 0.09 0.04 0.01 0.00 0.01 unch 0.00 0.01 0.00 0.15 0.09 0.14 + 0.04 0.29 0.00 11.03 10.62 10.90 - 0.09 11.30 5.73 14.63 13.92 14.49 + 0.07 14.85 7.29 0.35 0.28 0.35 + 0.07 0.56 0.25 0.43 0.36 0.43 + 0.06 0.70 0.32 0.01 0.01 0.01 unch 0.00 0.12 0.01 0.03 0.03 0.03 unch 0.00 0.17 0.02 0.05 0.04 0.04 - 0.01 0.07 0.03 0.10 0.08 0.10 + 0.01 0.20 0.06

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Transition Met* O 35 T 630 Treasury Metal Treasury Metal* O 95 Trecora Res* N 164 Tres-Or Res V 655 Trevali Mng* O 207 Trevali Mng T 5252 Tri Origin Exp V 520 Trifecta Gold V 45 Trifecta Gold* O 2 Trigen Res* O 634 Trilogy Mtls T 27 Trilogy Mtls* X 215 O 49 TriMetals Mng* TriMetals Mng* O 50 TriMetals Mng T 63 Trinity Res* O 4 Trinity Valley V 243 Trinity Valley* O 0 Trio Resources* O 421 TriStar Gold* O 85 TriStar Gold V 154 Triumph Gold V 268 O 142 Triumph Gold* Troilus Gold T 515 Troilus Gold* O 4 V 196 Troubadour Res Troy Enrgy V 19 Troy Res* O 15 Troymet Expl V 535 True Grit Res V 20 True North Gem V 305 True North Gem* O 16 V 890 Trueclaim Expl Trueclaim Expl* O 80 Tsodilo Res V 111 Tudor Gold V 75 Tundra Gold* O 15 Turquoise HIl T 4042 21064 Turquoise HIl* N TVI Pacific* O 1130 TVI Pacific V 687 Tyhee Gold* O 30 Typhoon Expl V 3

0.07 0.07 0.07 - 0.00 0.14 0.07 0.32 0.27 0.30 - 0.01 0.58 0.21 0.23 0.20 0.23 - 0.02 0.46 0.16 9.24 8.57 8.80 + 0.07 15.60 6.69 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.29 0.27 0.27 - 0.01 1.28 0.24 0.39 0.35 0.36 - 0.02 1.61 0.32 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.07 0.06 0.07 + 0.01 0.13 0.05 0.04 0.04 0.04 - 0.00 0.10 0.03 0.30 0.23 0.28 + 0.04 1.01 0.19 2.80 2.66 2.79 + 0.06 3.00 1.32 2.12 2.04 2.11 + 0.01 2.34 1.05 0.06 0.04 0.05 - 0.01 0.23 0.04 0.05 0.04 0.05 + 0.01 0.18 0.02 0.06 0.06 0.06 - 0.01 0.23 0.03 0.02 0.00 0.02 unch 0.00 0.20 0.01 0.05 0.04 0.05 + 0.01 0.15 0.04 0.00 0.00 0.09 unch 0.00 0.00 0.00 0.00 + 0.00 0.00 0.00 0.12 0.12 0.12 unch 0.00 0.23 0.07 0.16 0.00 0.16 + 0.01 0.29 0.09 0.45 0.40 0.42 - 0.03 0.80 0.27 0.33 0.30 0.33 - 0.01 0.60 0.22 0.77 0.71 0.74 - 0.04 2.10 0.40 0.57 0.00 0.55 - 0.08 1.59 0.45 0.09 0.09 0.09 + 0.01 0.25 0.08 0.04 0.04 0.04 unch 0.00 0.10 0.01 0.08 0.08 0.08 unch 0.00 0.13 0.06 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.03 0.03 0.03 unch 0.00 0.07 0.03 0.03 0.00 0.01 - 0.01 0.15 0.01 0.00 0.00 0.00 unch 0.00 0.05 0.00 0.10 0.08 0.09 + 0.02 0.28 0.07 0.07 0.07 0.07 unch 0.00 0.11 0.07 0.24 0.22 0.23 - 0.01 0.65 0.19 0.30 0.27 0.28 - 0.02 0.48 0.20 0.50 0.38 0.50 unch 0.00 1.00 0.38 2.24 2.15 2.15 - 0.05 4.37 1.94 1.70 1.61 1.63 - 0.04 3.34 1.43 0.01 0.00 0.00 - 0.01 0.02 0.00 0.01 0.00 0.01 + 0.01 0.02 0.01 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.04 unch 0.00 0.10 0.03

U.S. Gold* D 431 U.S. Lithium* O 54 U3O8 Corp* O 19 U3O8 Corp T 78 Ubique Mineral 5 UC Res* O 0 246 Ucore Rare Mtl V Ucore Rare Mtl* O 540 UEX Corp T 6111 Ultra Lithium* O 8 Ultra Lithium V 56 O 1380 Umbral Enrgy* Unigold V 12 Unigold* O 13 United Battery* O 734 United Battery 919 United Res Hdg* O 375 United States A* X 147 United States S* N 54730 Unity Metals V 331 Universal Vent V 281 Ur-Energy T 425 Ur-Energy* X 2391 864 Uragold Bay Rs V X 5846 Uranium Energy* Uranium Hunter* O 0

0.96 0.85 0.93 - 0.02 2.45 0.74 0.35 0.25 0.27 - 0.01 1.44 0.09 0.16 0.14 0.15 - 0.02 0.36 0.13 0.22 0.00 0.21 unch 0.00 0.50 0.18 0.20 0.00 0.20 unch 0.00 0.25 0.06 0.00 0.00 0.00 unch 0.00 0.20 0.00 0.13 0.11 0.12 - 0.01 0.25 0.11 0.10 0.08 0.09 - 0.00 0.20 0.08 0.18 0.17 0.17 - 0.01 0.35 0.14 0.08 0.07 0.08 + 0.00 0.24 0.05 0.13 0.10 0.12 + 0.02 0.33 0.08 0.30 0.17 0.26 + 0.09 0.54 0.11 0.16 0.16 0.16 unch 0.00 0.27 0.13 0.12 0.11 0.11 + 0.01 0.20 0.09 0.07 0.05 0.06 + 0.00 1.58 0.05 0.09 0.07 0.07 - 0.01 1.68 0.07 0.04 0.01 0.04 + 0.02 0.07 0.01 0.65 0.56 0.64 + 0.01 1.05 0.23 23.49 21.51 21.95 - 0.09 47.64 17.09 0.95 0.89 0.92 + 0.03 1.00 0.10 0.35 0.32 0.35 - 0.01 0.63 0.29 1.05 0.93 0.95 - 0.03 1.19 0.74 0.80 0.71 0.72 - 0.02 0.93 0.54 0.07 0.06 0.07 - 0.01 0.12 0.06 1.47 1.29 1.34 + 0.04 1.89 1.12 0.00 0.00 1.01 unch 0.00 1.70 0.26

U-V

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Uranium Res* D 2754 Uravan Mnrls V 148 V 991 UrbanGold Min USCorp* O 2066 Val-d’Or Mg* O 0 Val-d’Or Mg V 520 278841 N Vale* Valley High Mg* O 5194 O 121 ValOre Metals* ValOre Metals V 836 Valterra Res* O 193 Valterra Res V 316 O 14 Vanadian Enrgy* V 57 Vanadian Enrgy V 604 Vanadium One O 70 Vanadiumcorp* V 673 Vanadiumcorp 10 Vanstar Mng Rs* O 667 Vanstar Mng Rs V 3 Vantex Res * O Vantex Res V 2 Vatic Vent V 352 Vatic Vent* O 14 O 18 Velocity Mnrls* Velocity Mnrls V 893 Vendetta Mng V 8489 O 74 Vendetta Mng* Verde Potash T 97 Veris Gold* O 4 Vertical Expl V 20 Victoria Gold V 1564 Victory Nickel 23 Victory Res V 16 Victory Res* O 6 Virginia Enrgy V 60 O 36 Virginia Enrgy* Viscount Mng V 130 15 Visible Gold M V Vision Lithium V 117 O 6 Vision Lithium* Vista Gold* X 542 Vista Gold T 28 Viva Gold* O 51 Viva Gold V 120 Vizsla Res V 32 Volcanic Gold V 131 Volt Energy V 157 Voltaic Min V 413 Voyageur Min V 23 O 25 Voyageur Min* O 42 VR Resources* VR Resources V 310 Vulcan Mnrls V 75 VVC Expl V 364

0.13 0.15 0.13 0.13 - 0.01 0.86 0.03 unch 0.00 0.06 0.03 0.03 0.03 0.10 0.12 0.10 0.10 - 0.01 0.15 0.00 0.00 0.00 0.00 - 0.00 0.02 0.06 unch 0.00 0.09 0.00 0.00 0.06 0.10 unch 0.00 0.14 0.10 0.10 0.10 11.03 12.21 10.89 11.39 - 1.18 16.13 0.01 0.01 0.01 - 0.00 0.02 0.00 0.00 0.22 0.17 0.22 + 0.05 0.48 0.11 0.30 0.24 0.29 + 0.06 0.90 0.01 0.03 0.02 0.03 + 0.01 0.04 0.02 0.04 0.03 0.03 + 0.01 0.04 0.01 0.06 0.00 0.06 + 0.00 0.13 0.06 0.08 0.00 0.07 - 0.01 0.18 0.04 0.15 0.12 0.14 + 0.01 0.29 0.01 0.06 0.05 0.06 + 0.01 0.15 0.06 0.09 0.07 0.09 + 0.02 0.14 0.11 0.11 0.11 unch 0.00 0.13 0.07 0.14 0.12 0.13 - 0.02 0.18 0.07 0.22 0.22 0.22 + 0.09 0.24 0.05 0.14 0.29 0.00 0.29 - 0.04 0.45 0.06 unch 0.00 0.32 0.08 0.08 0.08 0.01 0.06 0.06 0.06 + 0.00 0.64 0.09 0.17 0.16 0.17 + 0.01 0.18 0.13 0.26 0.22 0.26 + 0.03 0.25 0.11 0.15 0.12 0.14 + 0.02 0.26 0.08 0.11 0.09 0.11 + 0.01 0.20 0.53 unch 0.00 1.25 0.71 0.68 0.70 0.00 unch 0.00 0.01 0.00 0.00 0.00 0.06 0.09 0.08 0.08 - 0.01 0.21 0.30 0.51 0.47 0.50 + 0.01 0.52 0.01 0.04 0.00 0.04 + 0.01 0.07 0.08 unch 0.00 0.49 0.12 0.00 0.12 0.09 0.12 0.09 0.09 - 0.03 0.23 0.09 0.17 0.14 0.16 + 0.02 0.36 0.07 0.14 0.00 0.14 + 0.03 0.28 0.15 0.26 0.25 0.25 - 0.01 0.38 0.09 0.07 0.09 + 0.02 0.17 0.04 0.08 0.12 0.10 0.11 - 0.02 0.66 0.07 0.10 0.08 0.08 - 0.02 0.48 0.37 0.70 0.61 0.64 - 0.05 0.87 0.56 0.91 0.84 0.85 - 0.06 1.12 0.21 0.28 0.26 0.26 + 0.02 0.40 0.21 unch 0.00 0.50 0.35 0.32 0.32 0.13 0.15 0.15 0.15 + 0.01 0.20 0.02 0.05 0.00 0.05 - 0.01 0.27 0.03 0.05 0.03 0.05 + 0.01 0.44 0.13 0.19 0.15 0.17 + 0.02 0.37 0.05 0.10 0.09 0.10 - 0.01 0.12 0.04 0.08 0.08 0.08 - 0.00 0.10 0.11 0.16 0.13 0.15 + 0.02 0.35 0.14 0.23 0.15 0.19 + 0.05 0.43 0.04 unch 0.00 0.07 0.04 0.04 0.04 0.02 0.04 0.03 0.04 + 0.01 0.07

Walker Lane* O 20 Walker River* O 315 Walker River V 3327 T 5841 Wallbridge Mng Warrior Gold V 475 Waseco Res V 521 Wealth Mnrls V 386 Wealth Mnrls* O 312 O 0 Wescan Gldflds* V 131 Wescan Gldflds O 420 Wesdome Gold* T 2045 Wesdome Gold West African V 494 37 West High Yld V West Kirkland V 344 85 West Kirkland * O

0.05 0.29 0.27 0.29 - 0.06 0.40 0.03 0.09 0.08 0.08 - 0.01 0.09 0.05 0.12 0.09 0.10 + 0.01 0.14 0.06 0.25 0.21 0.25 + 0.04 0.35 0.04 0.08 0.08 0.08 - 0.01 0.22 0.02 0.04 0.03 0.04 + 0.02 0.06 0.37 0.41 0.37 0.40 + 0.01 2.00 0.27 0.31 0.28 0.30 - 0.01 1.55 0.02 unch 0.00 0.10 0.03 0.03 0.03 0.01 0.04 0.00 0.03 - 0.03 0.09 1.31 3.90 3.65 3.67 - 0.21 4.00 1.71 5.11 4.82 4.87 - 0.23 5.15 0.14 unch 0.00 0.43 0.24 0.21 0.21 0.40 0.00 0.40 + 0.04 0.60 0.20 0.04 unch 0.00 0.09 0.07 0.07 0.07 0.06 0.05 0.06 + 0.01 0.07 0.03

W-Z

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

West Red Lake* O 181 312 West Red Lake Western Areas* O 4 Western Atlas V 45 Western Copper T 142 Western Copper* X 203 49 Western Pac Rs V Western Pac Rs* O 17 T 120 Western Potash Western Res* O 43 Western Troy C* O 0 Western Troy C V 150 Western U&V 158 O 197 Western U&V* Westhaven Vent* O 28 V 625 Westhaven Vent Westkam Gold* O 181 Westkam Gold V 1998 Westminster Rs* O 0 Westminster Rs V 581 Westmoreland* O 315 O 0 WestMountain* Wheaton Prec M* N 9670 Wheaton Prec M T 3883 White Energy* O 4 White Gold* O 29 White Gold V 762 White Metal R* O 1542 485 White Metal Rs V 25 White Mtn Engy* O O 1 Whitehaven Coa* Whitemud Res V 3 Wildsky Res* O 1 Winston Gold* O 192 Winston Gold 138 Winston Res 10 Wolfden Res V 148 Wolfden Res* O 40 Wolfeye Res V 738 Worldwide Res* O 5 Worldwide Res V 0 X-Terra Res V 295 Xanadu Mines* O 28 Xanadu Mines T 199 Xander Res V 2 Xiana Mng V 6 Xiana Mng* O 5 Ximen Mining* O 10 Ximen Mining V 937 Xtierra Inc V 99 O 223 Xtra-Gold Res* Xtra-Gold Res T 142 Yamana Gold T 13961 N 59716 Yamana Gold* Yanzhou Coal* O 0 O 2 Yellowhead Mng* Yellowhead Mng V 10 Yorbeau Res T 632 You Han Data* O 2 V 1314 Zadar Ventures Zanzibar Gold 394 V 187 ZEN Graphene ZEN Graphene* O 48 Zena Mining V 15 Zephyr Mnls V 46 Zephyr Mnls* O 83 Zimtu Capital V 260 Zinc One Res V 957 64 Zinc One Res * O ZincX Res V 294 ZincX Res* O 11 Zonte Metals V 83 Zonte Metals* O 8

0.09 0.06 0.07 - 0.01 0.10 0.03 0.12 0.09 0.10 - 0.01 0.13 0.05 1.64 1.64 1.64 unch 0.00 2.82 1.27 0.10 0.09 0.10 + 0.01 0.30 0.05 1.02 0.93 0.94 - 0.07 1.30 0.52 0.78 0.70 0.72 - 0.06 1.01 0.35 0.58 0.00 0.32 - 0.36 1.20 0.32 0.00 0.00 0.35 unch 0.00 0.62 0.01 0.28 0.25 0.27 - 0.01 0.45 0.21 0.21 0.20 0.20 unch 0.00 0.35 0.15 0.00 0.00 0.01 unch 0.00 0.02 0.01 0.06 0.06 0.06 unch 0.00 0.20 0.03 1.68 1.46 1.55 + 0.10 3.32 0.47 1.30 1.10 1.22 + 0.10 2.70 0.96 0.65 0.57 0.61 - 0.06 1.03 0.09 0.86 0.76 0.83 - 0.02 1.43 0.11 0.01 0.00 0.01 - 0.00 0.04 0.00 0.01 0.01 0.01 unch 0.00 0.05 0.01 0.00 0.00 0.07 unch 0.00 0.13 0.07 0.09 0.05 0.05 - 0.04 0.25 0.03 0.02 0.01 0.02 - 0.00 0.83 0.01 0.00 0.00 3.30 unch 0.00 5.00 3.30 21.45 20.65 21.36 + 0.26 22.87 15.08 28.46 27.11 28.31 + 0.71 29.93 19.87 0.25 0.25 0.25 unch 0.00 0.31 0.11 1.17 0.98 1.06 - 0.10 1.44 0.46 1.51 1.33 1.39 - 0.12 2.00 0.54 0.03 0.03 0.03 - 0.01 0.19 0.02 0.05 0.04 0.04 - 0.01 0.25 0.04 0.00 0.00 0.00 unch 0.00 0.00 0.00 3.32 3.32 3.32 unch 0.00 4.37 3.15 0.00 0.00 0.01 unch 0.00 0.05 0.01 0.05 0.05 0.05 unch 0.00 0.77 0.05 0.03 0.03 0.03 unch 0.00 0.09 0.02 0.04 0.04 0.04 unch 0.00 0.09 0.03 0.03 0.03 0.03 + 0.01 0.24 0.02 0.23 0.21 0.23 + 0.01 0.61 0.18 0.17 0.16 0.17 + 0.00 0.48 0.13 0.80 0.66 0.79 + 0.09 1.50 0.50 0.03 0.03 0.03 unch 0.00 0.03 0.02 0.00 0.00 0.03 unch 0.00 0.07 0.03 0.12 0.10 0.12 unch 0.00 0.21 0.09 0.03 0.03 0.03 unch 0.00 0.21 0.03 0.14 0.11 0.11 - 0.03 0.17 0.11 0.00 0.00 0.09 unch 0.00 0.20 0.03 0.59 0.00 0.59 + 0.02 0.70 0.38 0.45 0.00 0.36 - 0.06 0.55 0.30 0.66 0.62 0.63 + 0.00 10.27 0.10 0.86 0.76 0.83 + 0.01 0.86 0.14 0.05 0.03 0.05 + 0.01 0.08 0.03 0.35 0.30 0.34 + 0.01 0.45 0.11 0.45 0.38 0.44 + 0.02 0.47 0.20 3.75 3.55 3.68 - 0.01 4.42 2.66 2.85 2.67 2.77 - 0.05 3.53 2.00 0.00 0.00 1.08 unch 0.00 1.63 1.08 0.67 0.64 0.67 + 0.02 0.68 0.10 0.89 0.84 0.89 + 0.05 0.98 0.10 0.03 0.03 0.03 + 0.01 0.05 0.02 1.65 0.00 1.55 unch 0.00 2.80 0.75 0.03 0.02 0.02 + 0.01 0.09 0.01 0.20 0.15 0.20 + 0.06 0.20 0.10 0.54 0.47 0.47 - 0.03 0.80 0.34 0.42 0.37 0.37 - 0.04 0.63 0.27 0.06 0.06 0.06 unch 0.00 0.12 0.05 0.21 0.20 0.20 - 0.01 0.29 0.15 0.16 0.13 0.15 + 0.01 0.22 0.11 0.35 0.32 0.33 + 0.01 0.40 0.20 0.10 0.09 0.09 + 0.01 0.50 0.07 0.08 0.06 0.07 + 0.00 0.40 0.04 0.20 0.19 0.19 - 0.01 0.75 0.18 0.14 0.14 0.14 + 0.00 0.56 0.14 0.31 0.29 0.29 - 0.03 0.41 0.16 0.22 0.22 0.22 unch 0.00 0.30 0.12

BID-ASK — FEBRUARY 4–8, 2019 STOCK

12-MONTH

EXC BID ASK LAST HIGH

African Metals Aguila Amer Gd Alba Minerals Alchemist Mng Alexandra Cap Allante Res Altan Nevada Altitude Res American CuMo Anglo-Bomarc Antler Hill Apex Res Archon Mineral Arcturus Vent Argentum Silvr Arrowstar Res Aurelius Min Aurex Energy Austin Res Awale Res Banro Corp* Barolo Venture Bethpage Cap BHK Mining Black Bull Res Blackheath Res Boss Power Buffalo Coal Bullion Gold Bullman Min Cadillac Vent Cairo Res Camrova Res Canadian Silv Canex Energy Caracara Silvr Cariboo Rose Carlin Gold Cartier Iron Cassius Vents Cerro de Pasc Chantrell Vent Chinapintza Mg CIM Intl Grp Cliffs Nat Res* Clydesdale Res CMX Gold & Sil Comet Inds Contintl Prec Cresval Cap CWN M’g Acq Cyntar Venture Cyprium Mng Damara Gold Dawson Gold Discovery Harb DV Resources EastCoal Inc Eastern Zinc Electra Stone European Metal Eurotin EVI Global Grp Evolving Gold Excalibur Res Fieldex Expl Finore Mng Fire River Gol Firebird Res First Idaho Four Nines Full Metal Mnl Fusion Gold Gem Intl Res Generation Min Getty Copper

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

20-23_FEB18_StockTables.indd 23

0.06 0.09 0.06 0.20 0.27 0.27 0.28 0.15 0.16 0.16 0.28 0.03 0.03 0.06 0.15 ... ... 0.50 0.93 0.12 0.18 0.11 0.20 0.01 0.02 0.01 0.05 0.02 0.02 0.05 0.09 0.06 0.07 0.06 0.13 0.08 0.08 0.15 0.16 0.02 ... 0.10 0.20 0.06 0.07 0.06 0.13 0.60 0.79 0.60 1.31 0.08 0.15 0.09 0.16 0.14 0.15 0.14 0.33 0.02 0.24 0.12 0.12 0.13 0.14 0.14 0.15 0.26 0.26 0.65 1.30 0.01 0.02 0.02 0.03 0.09 0.11 0.08 0.37 0.11 0.11 0.11 2.10 0.25 0.27 0.25 0.30 0.01 ... 0.07 0.10 0.02 0.02 0.02 0.10 0.18 0.10 0.01 0.02 0.02 0.05 0.17 0.20 0.17 0.01 0.02 0.01 0.03 0.06 0.15 0.10 0.47 0.04 0.11 0.06 0.09 0.02 0.03 0.03 0.04 0.31 0.41 0.27 0.42 0.06 0.06 0.07 0.11 0.01 0.06 0.06 0.08 0.12 0.20 0.17 0.40 0.05 0.20 0.11 0.20 0.03 0.04 0.03 0.05 0.02 0.02 0.03 0.04 0.09 0.10 0.09 0.20 0.06 0.12 0.06 0.08 ... ... 0.29 0.34 0.06 0.08 0.05 0.12 0.01 0.01 0.01 0.02 0.19 0.64 0.23 0.32 1.45 3.20 1.43 7.17 0.03 0.06 0.04 0.15 0.04 0.05 0.05 0.12 3.00 3.25 3.00 3.60 0.40 0.40 0.36 0.46 ... 0.20 0.05 0.05 0.08 0.05 0.25 0.08 0.16 0.09 0.15 0.03 0.03 0.03 0.04 0.05 0.05 0.07 0.01 0.82 0.30 0.04 0.05 0.04 0.08 0.08 0.10 0.08 0.50 0.10 0.15 0.10 0.30 0.09 0.14 0.09 0.56 0.01 0.02 0.01 0.02 ... 0.01 0.01 0.02 0.09 0.10 0.13 0.60 0.63 0.63 0.70 0.08 0.20 0.08 0.17 0.09 0.10 0.10 0.11 0.14 0.14 0.19 0.12 0.12 0.11 0.03 0.07 0.09 0.02 0.03 0.02 0.06 0.05 0.25 0.04 0.06 0.26 0.35 0.31 0.80 0.01 ... 0.10 0.13 0.12 0.29 0.12 0.30 0.01 0.02 0.02 0.10 0.14 0.10 0.20 0.03 0.03 0.03 0.07

LOW

0.17 0.04 0.04 0.25 0.06 0.01 0.04 0.05 0.06 0.07 0.04 0.60 0.09 0.10 0.05 0.03 0.39 0.01 0.06 0.10 0.09 0.07 0.01 0.01 0.09 0.06 0.01 0.24 0.06 0.04 0.11 0.08 0.02 0.02 0.07 0.03 0.12 0.04 0.01 0.19 0.98 0.02 0.04 2.60 0.30 0.03 0.08 0.04 0.04 0.08 0.10 0.09 0.01 0.01 0.16 0.07 0.01

0.02 0.02 0.10 0.10 0.11 0.08 0.02

STOCK

GFM Res Global Cop Grp Goldbank Mng Goldbelt Emp Golden Cariboo Great Quest Fe Great Thunder Green Arrow Greenshield Ex Grenville Gold Grosvenor Res HFX Holding Highbury Proj Highvista Gold Icon Explor IEMR Res Indigo Expl Infinite Lith Inform Res Inomin Mines Inspiration Mg Inter-Rock Mnl Interconnect Intl Battery Intl Corona Intl Millm Mng Iron South Mng Jaeger Res Jasper Mining Jazz Res JDF Explor Inc Jubilee Gold Kal Minerals Kenna Res La Imperial Legion Metals Leo Res Libero Copper Lithion Energy Lithium Energy Logan Res Los Andes Copp Lovitt Res Lund Enterpr M.P.V. Explor Madeira Mrnls MAG Silver* Magna Gold Magnitude Mng Manado Gold Martina Mnls MBMI Res Medgold Res Mega Copper Meridius Res Mesa Expl MetalCorp Metalo Manuf Mezzotin Mnrls Micrex Dev Midasco Cap MillenMin Vent Millstream Min Milner Con Slv Minecorp Egy Mineral Hill Minsud Res MK2 Ventures Montana Gold Mountain Lake Murchison Min MX Gold Navy Res Nebu Res New Jersey Mng New Klondike

12-MONTH

EXC BID ASK LAST HIGH LOW

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

0.05 0.10 0.04 0.15 0.07 0.08 0.08 0.11 0.12 0.15 0.13 0.21 0.02 0.02 0.02 0.03 0.05 0.05 0.05 0.11 0.10 0.10 0.10 0.18 0.01 0.02 0.02 0.04 0.03 0.04 0.04 0.08 0.10 0.20 0.12 0.15 0.28 0.38 0.38 0.70 0.12 0.20 0.11 0.20 0.05 0.12 0.06 0.10 0.21 0.48 0.22 0.30 ... ... 0.17 0.10 0.10 0.41 0.02 0.02 0.02 0.04 0.01 0.02 0.02 0.04 0.26 0.29 0.28 0.32 0.06 0.07 0.07 0.21 0.03 0.04 0.03 0.17 0.03 0.03 0.03 0.17 0.28 0.32 0.30 0.59 0.03 0.10 0.08 0.11 ... ... 0.31 0.03 0.04 0.04 0.08 0.02 0.03 0.03 0.04 0.24 0.27 0.24 0.28 0.02 0.03 0.02 0.05 0.09 0.10 0.09 0.29 0.05 0.07 0.06 0.08 0.01 ... 0.05 0.15 0.41 0.70 0.64 0.67 0.13 ... 0.12 0.20 0.13 0.16 0.15 0.04 0.05 0.07 0.08 0.12 0.58 0.17 0.17 ... ... 1.09 0.08 0.09 0.09 0.15 ... ... 0.10 0.10 0.13 0.10 1.20 0.03 0.06 0.06 0.20 0.25 0.24 0.35 0.08 0.13 0.10 0.25 0.12 0.12 0.13 0.25 0.11 0.12 0.12 0.30 0.04 0.15 0.04 0.05 12.52 13.30 12.52 14.40 ... ... 0.40 0.45 ... ... 0.15 0.30 0.04 0.05 0.05 0.11 0.04 0.10 0.04 0.06 0.02 0.04 0.02 0.08 0.14 0.15 0.15 0.51 0.18 0.22 0.17 0.18 0.21 ... 0.21 0.21 0.02 0.08 0.06 0.08 0.02 0.02 0.02 0.03 0.27 0.30 0.30 0.56 0.01 0.01 0.01 0.04 0.02 0.02 0.01 0.02 0.10 0.20 0.10 0.15 0.01 0.50 0.05 0.04 0.06 0.04 0.04 0.10 0.05 0.11 ... ... 0.12 0.20 0.11 0.15 0.15 0.27 0.06 0.10 0.08 0.21 0.18 0.33 0.22 0.39 0.09 0.10 0.10 0.10 ... ... 0.05 0.09 0.09 0.19 0.09 0.25 0.11 0.11 0.11 0.15 0.21 0.15 0.27 0.04 0.04 0.04 0.17 0.33 0.17 0.26 0.01 0.01 0.01

0.04 0.04 0.07 0.02 0.03 0.06 0.01 0.02 0.11 0.12 0.11 0.05 0.21 0.02 0.01 0.12 0.06 0.03 0.02 0.20 0.04 0.03 0.02 0.04 0.02 0.08 0.03 0.01 0.40 0.12 0.07 0.05 0.07 0.09 0.15 0.04 0.11 0.06 0.02 6.12 0.20 0.14 0.04 0.04 0.02 0.12 0.16 0.18 0.03 0.01 0.15 0.01 0.01 0.07 0.03 0.07 0.09 0.05 0.15 0.02 0.03 0.06 0.15 0.15

STOCK

New Stratus Newmac Res Odyssey Res Organic Potash Oriental Non F Pac Cascade Pac Iron Ore Patriot Gold Pele Mtn Res Phoenix Gold Plata Latina Plate Res Prime Meridian Prize Mng Quantum Cobalt Rare Element* Razore Rock Res Red Moon Res Red Oak Mg Red Tiger Mng Regency Gold Reliant Gold Resource Cap Rhyolite Res Riley Resource Rio Silver River Wild Exp Rizal Res Rockland Mnls Ross River Roughrider Exp Rubicon Mnrls* Sage Gold Samco Gold Sandy Lake Gld Scotch Creek Sennen Potash Shine Minerals Silver Mtn Mns Silver Phoenix SouthGobi Res Starr Peak Exp Superior Mng Surge Explor Tajiri Res Tanzania Mnls Tearlach Res Tesoro Mnrls Themac Res Thunder Mtn Gd Tintina Mines TomaGold Tri-River Vent Trident Gold Troy Enrgy True Grit Res Typhoon Expl UC Res Upper Canyon Vale* ValOre Metals Vanadium One Vangold Res Vela Minerals Venerable Vent Westcot Vent Western Troy C Whistler Gold Whitemud Res Wildsky Res Worldwide Res Xander Res Zara Res Zenith Explor Zinco Mng Zincore Mtls

12-MONTH

EXC BID ASK LAST HIGH LOW

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

0.25 0.50 0.40 0.40 0.05 0.12 0.09 0.10 0.03 0.08 0.03 0.06 0.03 0.03 0.03 0.08 ... ... 1.00 1.05 0.01 0.02 0.01 0.07 0.12 0.08 0.15 0.06 ... 0.10 0.10 0.02 0.02 0.04 0.06 ... 0.01 0.01 0.02 0.03 0.02 0.05 0.04 0.05 0.05 0.10 0.01 0.50 0.14 0.04 0.04 0.04 0.35 ... ... 1.10 3.15 0.11 0.16 0.15 0.89 0.08 0.30 0.07 0.27 0.08 0.09 0.09 0.16 0.05 0.33 0.33 0.34 0.02 0.03 0.03 0.13 0.20 0.20 0.28 0.01 0.01 0.02 0.04 0.01 0.01 0.01 0.11 0.15 0.20 0.15 0.29 0.15 0.29 0.15 0.41 0.04 0.05 0.04 0.06 0.56 0.56 0.55 0.70 0.02 0.03 0.03 0.05 0.07 0.08 0.08 0.11 0.14 0.14 0.26 0.50 0.08 0.10 0.08 0.25 ... ... 0.03 1.35 0.01 0.01 0.02 0.12 0.02 0.04 0.03 0.07 0.09 0.09 0.09 0.13 0.12 0.18 0.12 0.13 0.45 1.00 0.45 0.50 0.09 ... 0.14 0.16 0.02 0.02 0.02 0.03 0.10 0.15 0.09 0.22 0.09 0.15 0.14 0.18 0.09 0.14 0.10 0.18 0.20 0.20 0.10 0.10 0.39 0.44 0.39 0.23 0.08 0.13 0.08 0.18 0.07 0.07 0.16 0.90 0.05 0.10 0.05 0.05 0.05 0.06 0.05 0.11 0.05 0.05 0.04 0.10 ... ... 0.17 0.30 0.04 0.08 0.05 0.10 0.05 0.05 0.05 0.09 ... ... 0.04 0.14 0.25 0.14 0.20 0.03 0.05 0.04 0.10 0.02 0.03 0.03 0.07 0.04 0.05 0.04 0.10 0.01 0.02 0.02 0.03 ... 0.35 0.25 0.40 ... ... 10.24 11.10 0.06 0.07 0.07 0.13 0.13 0.15 0.13 0.03 0.03 0.02 0.23 0.18 0.30 0.30 0.30 0.08 0.15 0.10 0.13 ... ... 0.35 0.50 0.06 0.07 0.06 0.20 0.06 0.10 0.06 0.08 0.01 0.02 0.01 0.05 0.08 0.14 0.08 1.01 0.03 0.05 0.03 0.07 0.05 0.09 0.09 0.20 0.05 ... 0.07 0.24 0.05 ... 0.04 0.04 0.05 0.07 0.05 0.04 0.07 0.05 0.17

0.10 0.06 0.02 0.02 1.00 0.03 0.10 0.03 0.02 0.03 0.04 0.20 0.06 0.06 0.05 0.08 0.14 0.02 0.01 0.15 0.10 0.04 0.02 0.01 0.01 0.10 0.07 0.03 0.01 0.02 0.04 0.12 0.36 0.08 0.01 0.02 0.10 0.09 0.04 0.03 0.05 0.12 0.03 0.05 0.03 0.14 0.02 0.04 0.14 0.01 0.03 0.03 0.01 0.15 6.57 0.07 0.02 0.18 0.10 0.23 0.03 0.06 0.01 0.08 0.03 0.03 0.07 0.04 0.03

2019-02-12 12:03 PM

24_FEB18_BackCover.indd 24

2019-02-12 6:14 PM