The Northern Miner February 4 2019 Issue 3

VALE: 84 DEAD, 276 MISSING IN TAILINGS SPILL IN BRAZIL / 4 Geotech_Earlug_2016_Alt2.pdf 1 2016-06-24 4:27:20 PM

SPECIAL FOCUS

LITHIUM & URANIUM Metals powering the future / 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 4–17, 2019 / VOL. 105 ISSUE 3 / GLOBAL MINING NEWS · SINCE 1915 / $3.99 / WWW.NORTHERNMINER.COM

Uranium Energy lays groundwork Balmoral finds for market recovery nickel DEVELOPMENT

| Texas ISR project remains on ‘hot standby,’ company says

BY TRISH SAYWELL tsaywell@northernminer.com

O

ver the last two years, Uranium Energy (NYSE-AM: UEC) has taken advantage of the downturn in uranium markets and acquired uranium projects in the Powder River basin of Wyoming, Canada’s Athabasca basin and Paraguay. “When prices are falling you can pull your horns in and sit on your hands, but we’ve been very active,” says Scott Melbye, UEC’s vice-president corporate development.

At the same time it was picking up new assets and consolidating land packages, it shut down its Palangana in-situ recovery (ISR) mine and Hobson ISR processing plant in Texas, a strategy it says is prudent at a time when the uranium industry is so troubled.

“We feel it’s a waste of resources, both financial and mineral, to try to produce in a market that is giving

zones at Grasset

QUEBEC

| Follow-up drilling in the works

BY RICHARD QUARISA rquarisa@northernminer.com

B Drillers at Uranium Energy’s Burke Hollow uranium property in Texas. URANIUM ENERGY

signals it doesn’t need production,” Melbye says. “It was a market-driven decision to ramp down production

and preserve the assets in the ground for a better market when the production is not adding to oversupply and valued more appropriately.”

Now, he says, signs are beginning to emerge that a better market may be just around the corner, with production cuts at Cameco (TSX: CCO; NYSE: CC) and in Kazakhstan helping to rebalance the industry after a seven-year bear market triggered by the Fukushima nuclear disaster in Japan in 2011.

“We’re seeing early innings of a price recovery,” he says. “We’re up 34% on the spot market from a low of US$17.75 per lb. in November 2016 … and it’s really happening on the market fundamentals, and that’s just demand.”

Despite all the challenges Fukushima presented the industry, he says, “we are building more reactors around the world than we ever have and generation from nuclear energy has reached a nice threshold, where we’re now producing more electricity from nuclear energy than we were at the time of Fukushima.”

He says positive catalysts for the sector include a new procurement cycle for utilities, as many of the eight- to 10-year contracts that have met their needs since the last bull cycle are starting to roll off.

For now, many utilities in the

“WE’RE SEEING EARLY INNINGS OF A PRICE RECOVERY.” SCOTT MELBYE VICE-PRESIDENT OF CORPORATE DEVELOPMENT, URANIUM ENERGY

almoral Resources (TSX: BAR; US-OTC: BALMF) has found several nickel sulphide zones in the central part of its Grasset ultramafic complex in Quebec after drilling the area during its late 2018 exploration program. The discoveries sit 7 km northwest of the company’s Grasset polymetallic deposit.

Highlights include 1.05% nickel, 0.31% copper, 0.05% cobalt, 0.2 gram platinum per tonne and 0.48 gram palladium per tonne over 7.6 metres from 632 metres downhole, as well as 0.31% nickel over 42 metres from 180 metres downhole.

See BALMORAL / 6 PM40069240

U.S. are waiting to see what happens with the U.S. Department of Commerce’s Section 232 investigation into uranium imports.

Earlier this year the DOC started the investigation after two mining companies — UrEnergy (TSX: URE) and Energy Fuels (TSX: EFR) — petitioned the agency to implement a 25% domestic purchase quota limiting imports.

“With that investigation underway and a presidential decision in July, a lot of utilities that would have contracted by now are sitting on the sidelines to see what happens,” Melbye says. “We have a big procurement cycle that is set to resume, but hasn’t happened yet.”

In the meantime, he sees investor interest picking up and more “buzz” around the commodity at industry conferences. “Whether it’s big hedge funds or institutions See URANIUM ENERGY / 2

COMMENTARY: STILL LOTS TO LIKE ABOUT DIAMONDS / 4–5

1-16_FEB4_Main .indd 1

2019-01-29 9:48 PM

2

WWW.NORTHERNMINER.COM

FEBRUARY 4–17, 2019 / THE NORTHERN MINER

Uranium Energy’s Palangana ISR uranium mine, which is on care and maintenance, in south Texas. URANIUM ENERGY

Uranium Energy lays groundwork for market recovery URANIUM ENERGY From 1

or retail investors, the interest is encouraging for us,” he says. “There was a lot of money made in the space in 2007–2010, but a lot of investment went away in the downturn and is now coming back, so it should be an interesting year.”

Uranium Energy says it can ready its Pelangana ISR mine in Texas to coincide with any improvement in the sector, and lower the lag time to restart when prices improve.

“Unlike a conventional mine that might be put in a ‘mothballed’ state, we maintain the Palangana and Hobs operations pretty much in a ‘hot standby’ to ramp back up as needed,” Melbye says.

At the same time, management continues to advance production permitting for its Burke Hollow project, which along with its fully permitted Goliad project, will one day feed ore to the central Hobson ISR processing plant, 60 km northwest of Corpus Christi. Burke Hollow and Goliad are 80 km and 69 km away from the Hobson plant.

“As a producer we’ve made all the

The production area at Uranium Energy’s Palangana ISR uranium project in south Texas. URANIUM ENERGY

right calls during the downturn, and want to make sure we’re ready to start producing and generating cash f low, and not be spinning our wheels to get permitted once uranium prices turn around.”

In nor t heastern Wyomi ng, meanwhile, it has been busy developing Reno Creek, its fully permitted, pre-construction ISR project in the Powder River basin.

In May 2018, the company completed its purchase of the North

Leading provider of analytical geochemistry services

alsglobal.com/geochemistry • clientserviceswcan@alsglobal.com

1-16_FEB4_Main .indd 2

Reno Creek project from Uranerz Energy, a wholly owned subsidiary of Energy Fuels.

The North Reno project is adjacent to (and within) the company’s Reno Creek project permitting boundary, and consolidates the company’s land and resource base in the region.

Today Uranium Energy controls one of the largest, fully permitted and unhedged ISR portfolios in the U.S., management says.

In January, the company updated the resource on the consolidated Reno Creek project, reporting measured and indicated resources of 32 million tonnes grading 0.041% U3O8 for 26 million contained lb. U3O 8 , and an inferred resource of 1.92 million tonnes averaging 0.039% for 1.49 million lb. U3O 8 .

It initially bought the fully permitted Reno Creek project in May 2017 from Pacific Road Resources Funds, which received all of the required permits for the project in seven years.

“We have amassed the largest developed and permitted ISR project in the U.S. — just under 28 million lb. resources — which really differentiates this project from just

about anything else out there,” Melbye says, adding that it helps the junior respond quickly to any upturn in the uranium market.

The company plans to complete a feasibility study on Reno Creek before the end of 2019. The study will look at processing options for the 2 million lb. U3O 8 it is permitted to mine each year, either by toll milling or building its own processing plant.

The Powder River basin is home to five ISR uranium mining operations: Cameco’s Smith Ranch– Highland and North Butte; Uranium One’s Willow Creek; Energy Fuels’ Nichols Ranch; and Strata’s Lance project.

Reno Creek is 129 km northeast of Casper and 16 km from the nearest town of Wright.

On Dec. 6, the company extended its $20-million, senior-secured credit facility to Jan. 31, 2022, and issued 1.18 million shares to the lenders as an extension fee.

At press time, UEC was trading at US$1.29 within a 52-week range of US$1.12 to US$1.89. The company has 178 million shares outstanding for a US$227-million market capitalization. TNM

Correction A Northern Miner map published in January 2019 showing mine properties within British Columbia’s Golden Triangle district incorrectly labelled a Metallis Resources target as King. The target placed should have been labelled as Cole, as shown below.

The digital edition of the map contains the correction.

The Northern Miner regrets the error.

2019-01-29 9:48 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 4–17, 2019

3

Integra delays resource after drill hit IDAHO GOLD-SILVER

| Step-out hole results ‘a real game changer,’ CEO Salamis says

BY RICHARD QUARISA

I

rquarisa@northernminer.com

ntegra Resources (TSXV: ITR; US-OTC: IRRZF) will delay an updated resource estimate for its DeLamar gold-silver project in southwestern Idaho after drill core from a step-out hole nearly half a kilometre from the project’s current resource assayed 2.53 grams per tonne gold equivalent over nearly 110 metres.

“Relative to everything we did in 2018, this one drill hole in particular is a real game changer for us in the grand scheme of things,” Integra president and CEO George Salamis says in an interview with The Northern Miner. “Because it’s such a big step out, ultimately with this hole, we think we’ve added a lot of resource potential.”

Hole 59, collared 400 metres from DeLamar’s current inferred resource and 260 metres from the nearest hole in the project’s Sullivan Gulch area, cut 109 metres grading 1.71 grams gold and 69.03 grams silver from 383 metres downhole.

The hole ended in mineralization, with the last 20 metres averaging more than 4 grams gold equivalent — or four times the average grade of the project’s resource.

Integra had intended to release an update resource estimate for DeLamar during 2019’s first quarter, but has delayed it until 2019’s second quarter. The company still intends to table DeLamar’s previously planned preliminary economic assessment (PEA) in mid-2019.

“This is such a big step out, and the geology is so similar to everything else that we’ve intercepted to the north that we think we’ve really extended the zone out by a lot,” Salamis says.

The company recently resumed drilling at DeLamar. It drilled more than 20,000 metres at the project last year, and plans to drill a similar amount in 2019 from January to November. It has one drill turning at the project, but says it will add a second in February, and likely a third in April.

Eventually, it will task one drill with reconnaissance drilling on regional targets.

The company intends to drill

A drill site at Integra Resources’ DeLamar gold-silver property in southwestern Idaho. INTEGRA RESOURCES

3,000 metres around the area of this step out hole to bring it into the upcoming resource estimate. It has stalled work planned for other areas of the project.

“Our technical team decided that we need to put everything else aside,” Salamis says. “Because of this result it’s really worth re-

Integra Resources CFO Andrée St-Germain at the DeLamar gold project in Idaho. INTEGRA RESOURCES

1-16_FEB4_Main .indd 3

tasking our drilling efforts to this area to do more drilling to piece together what we think is going to be a pretty incredible resource extension.”

The company also tabled drill results from Delamar’s Town Road and Henrietta deposits. Highlights include 21 metres grading 0.91 gram gold and 2.31 grams silver from surface at Town Road and 26 metres at 0.51 gram gold and 27.15 grams silver from 83 metres downhole at Henrietta.

The DeLamar project consists of two neighbouring deposits, DeLamar and Florida Mountain, connected by a 6.5 km, all-weather road.

Integra acquired DeLamar from Kinross Gold (TSX: K; NYSE: KGC) in November 2017 for $7.5 million and 9.9% of all issued and outstanding Integra shares.

It aquired Florida Mountain from a private group based in the U.S. in early 2018 for US$1.6 million.

Kinross has a variable net smelter return royalty on DeLamar.

Kinross produced 874,000 oz. gold and 50 million oz. silver at DeLamar from 1977 to 1998. Underground mining at the project from 1883 to 1910 produced 33,000 oz. gold and 57 million oz. silver at grades greater than 30 grams gold per tonne.

The deposits contain a combined 154.5 million inferred tonnes grading 0.54 gram gold and 21.92 grams silver for 2.26 million oz. gold and 108.4 million oz. silver, or 0.71 gram gold equivalent for 3.54 million oz. gold equivalent.

The company is also performing metallurgical studies for inclusion in 2019’s PEA. It envisions DeLa-

“THIS IS SUCH A BIG STEP OUT, AND THE GEOLOGY IS SO SIMILAR TO EVERYTHING ELSE THAT WE’VE INTERCEPTED TO THE NORTH THAT WE THINK WE’VE REALLY EXTENDED THE ZONE OUT BY A LOT.” GEORGE SALAMIS PRESIDENT AND CEO, INTEGRA RESOURCES

mar as an open-pit operation with heap leaching on certain sections of the project’s deposits. Because the site was recently reclaimed, Salamis says the company has a lot of environmental data about the area already, and therefore doesn’t have to do as much work in terms of “environmental input” into the study.

“The state signed off on the reclamation plan and the closure two years ago,” Salamis says. “That’s a lot of work that we don’t have to do that goes into the PEA.” Shares of Integra Resources are trading at 87¢ with a 52-week range of 61¢ to $1.40.

The company has a $60-million market capitalization. TNM

2019-01-29 9:48 PM

4

WWW.NORTHERNMINER.COM

FEBRUARY 4–17, 2019 / THE NORTHERN MINER

GLOBAL MINING NEWS · SINCE 1915

www.northernminer.com

E D I T O R IA L

Tailings spill at Feijao is Vale’s worst yet DISASTER

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

U.S. POSTMASTER: send address corrections to: Northern Miner Box 1118 Niagara Falls, N.Y. 14304.-7118

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_FEB4_Main .indd 4

COMMENTARY

| Natural diamonds high on intangible value, resale

| 84 dead, 276 missing in Brazil

H

ere we go again. With memories still fresh of Vale and BHP’s deadly Samarco iron ore tailings disaster in Mariana, Brazil in November 2015 — which killed 19 people — comes news of a smaller but even more deadly tailings dam collapse at Dam 1 of Vale’s Feijao iron ore mine in Brazil’s Minas Gerais state during the early

BY JOHN CUMMING afternoon of Friday, Jan. 25. jcumming@northernminer.com The tailings spilled out with no warning to bury several Vale buildings — including a cafeteria, as employees were eating lunch — and then inundated part of the small southeastern city of Brumadinho.

Dead fish and trash extended more than 18 km downstream from the dam along the banks of the Paraopeba River, where Pataxo indigenous members live, catch fish and draw water for cultivation.

At press time on Jan. 29 — in a story that is evolving by the hour — 84 people were confirmed dead and 276 people were missing in Brazil’s worstever environmental disaster. Most of the missing are Vale employees.

The rescue and care of the wounded is happening on-site by the fire department and civil defense, with Vale providing assistance, including 40 ambulances, 800 beds and a helicopter.

The dam was built in 1976 using the “upstream method” by Ferteco Mineracao, which was acquired by Vale in April 2001. The dam was 86 metres high and had a crest length of 720 metres. Its waste disposal area was 249,500 sq. metres and the volume of the spill was 11.7 million cubic metres.

Vale says the tailings dam was inactive, with no tailings being added.

There was no pond and no other type of operational activity was in progress. A decommissioning project was also underway.

The dam was heavily monitored by instruments and had been inspected regularly by Vale and the National Mining Agency, including three times in the previous 30 days.

Vale is the world’s largest iron ore producer, with massive operations in Brazil and lucrative exports to China’s steel industry. Its global reach extends to Canada after buying nickel major Inco in the mid-2000s.

In a video posted within hours of the accident, Vale CEO Fabio Schvartsman said: “I have no words to describe my grief, my great sadness, my disappointment with what has just happened. It is something beyond and above anything I could have imagined. I want to express my solidarity and say that Vale will do whatever possible and impossible to help the affected people. It’s something that hurts my soul and also something I never wanted to see in my life … This is inexcusable, but even so, I still apologize to all those affected and to the whole of Brazil.”

Schvartsman has been Vale CEO for only two years, replacing Murilo Ferreira, who was criticized for his handling of the Samarco disaster.

Vale said that at 5:30 a.m. on Sunday, Jan. 27, the warning sirens were triggered at its Dam 6 at the Brumadinho complex after monitoring instruments detected an increase in water levels, and locals were evacuated until waters receded later that day.

By Jan. 29, authorities had detained five people in Sao Paulo and in the state of Minas Gerais in connection with the tailings spill. Three of those arrested worked for Vale, and two worked for German company TUEV Sued, which had inspected the dam. The five will be detained for 30 days while officials investigate possible criminal charges.

The Associated Press reported that in ordering the arrests, Minas Gerais state judge Perla Saliba Brito wrote that the disaster could have been avoided. It’s not believable that “dams of such magnitude, run by one of the largest mining companies in the world, would break suddenly without any indication of vulnerability,” the judge wrote in the decision, according to news portal UOL. Vale’s American depository shares on the New York Stock Exchange dropped almost 18% to US$11.20 when trading resumed the next Monday, and were up 3% to US$11.48 at press time. Vale has suspended its dividend in the wake of the disaster.

By Jan. 29, Vale had not confirmed why Dam 1 collapsed, but announced it would decommission all 10 of its tailings dams built using the upstream method, all of which are inactive. CEO Schvartsman said this would take three years and cost R$5 billion (US$1.34 billion). Lost production will be made offset by increased production elsewhere. TNM

DEPARTMENTS

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.

O P- E D Don’t give up on the diamond industry just yet

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

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

COMPANY INDEX Agnico Eagle Mines. . . . . . 8 Albemarle. . . . . . . . . . . . . 12 Alliance Mineral Assets . . . . . . . . . . . . . . . 12 Altura Mining. . . . . . . . . . 12 ALX Uranium. . . . . . . . . . 13 Appia Energy. . . . . . . . . . 11 Balmoral Resources. . . . . . 1 Bellevue Gold. . . . . . . . . . . 7 Cameco. . . . . . . . . . . . . . . . 1 Columbus Gold. . . . . . . . . 8 Core Lithium . . . . . . . . . . 12 Denison Mines. . . . . . . 9,13 Fission 3.0. . . . . . . . . . . . . 11 Fission Uranium . . . . . . . 13 Frontier Lithium . . . . . . . 11 Galaxy Resources. . . . . . . 12

General Lithium. . . . . . . . 12 Global Atomic . . . . . . . . . . 9 Harte Gold . . . . . . . . . . . . . 9 Integra Resources. . . . . . . . 3 JCU Exploration. . . . . . . 13 Jiangxi Ganfeng Lithium. . . . . . . . . . . . . . 12 Kidman Resources. . . . . . 12 Korea Waterbury Uranium Ltd. Partnership. . . . . . . . . . . 13 LSC Lithium. . . . . . . . . . . 11 McEwen Mining . . . . . . . . 9 Millennial Lithium . . . . . . 9 Mineral Resources. . . . . . 12 Neo Lithium. . . . . . . . . . . 16 NeoMetals. . . . . . . . . . . . . 12

NexGen Energy. . . . . . . . 13 Nordgold. . . . . . . . . . . . . . . 8 Pilbara Minerals. . . . . . . . 12 Pluspetrol Resources. . . . 16 Power Metals . . . . . . . . . . 16 Silver Bear Resources . . . . 7 Sociedad Quimica y Minera . . . . . . . . . . . . . . 12 Talison Lithium. . . . . . . . 12 Teranga Gold . . . . . . . . . . . 7 UEX. . . . . . . . . . . . . . . . . . 16 Uranium Energy . . . . . . . . 1 Uranium Participation. . 13 Ur-Energy. . . . . . . . . . . . . . 1 Wealth Minerals. . . . . . . . 16

BY PAUL ZIMNISKY

I

Special to The Northern Miner

f diamond miner equities are a proxy, the sentiment surrounding the diamond industry is now at historically low levels.

Just in the last two years, a basket of diamond-producer stocks was down 28.9% in 2018, after a 17.3% decline in 2017 (see Figure 1).

This is in part due to idiosyncratic operational challenges that most all of the miners are dealing with in one way or another.

However, investor sentiment is also undeniably low, by valuation standards projected by future diamond-price expectations.

This has led to concerns spanning the industry’s growth prospects and longer-term economic viability.

De Beers’ ultra-successful “A diamond is forever” marketing campaign has been discontinued for over a decade now, and so have many of the positive attributes of diamond ownership, in consumers’ minds. The glamorous cultural perception of diamonds has faded and has somewhat been replaced by an association with civil rights abuses and De Beers monopolistic pricing practices. Just look at the reader comments under any diamond-related post on Reddit or any other pop-culture media platform.

Further, marriage rates are declining in the U.S., Japan and China, just to name a few; a trend of inconspicuous consumption seems to be on the rise; and the emerging, wide availability of labcreated diamonds are providing consumers with a lower-priced alternative to natural diamonds.

All of that said, global diamond jewellery sales in nominal and real terms have grown steadily for the past nine years. This in part owes to continued financial liberation of middle-class consumers in developing economies; positive global gross domestic product growth post-global financial crisis; and continued population growth, especially in the diamond industry’s most important end-consumer markets, the U.S., China and India.

In addition, despite the fact that marriage rates are declining, diamond consumption by self-purchasing women is on the rise, and younger generations in the U.S. are still buying diamonds, despite a narrative that the generation is too indebted to afford luxury. In fact, per-capita jewellery demand growth in the U.S. — the diamond industry’s largest end-consumer market, at approximately 50% — has been non-negative since 2010, which normalizes for population growth (technically, without rounding, there was negative growth in 2016 of 0.19%, as seen in Figure 2).

Looking just at last year, both De Beers and Alrosa’s diamond sales exceeded those in 2017, at 1.5% and 5.8%. The two companies combined represent almost twothirds of global diamond output.

Also, De Beers recently guided incremental production increases in 2020 and 2021, perhaps implying the company is comfortable with diamond demand expectations in the coming years.

Despite lab-created diamonds dominating the narrative around the natural diamond industry’s survival, the life-blood (perhaps

a poor word choice) of natural diamonds, as with most all of luxury, has always been marketing and branding.

For example, there was not even a Japanese word for diamond until De Beers began marketing in the country after World War II. While Japan’s share of global diamond demand has since fallen off in recent years, it represented as much as 20% of global demand as recently as the early 2000s, and has remained an important market for the industry.

The lingering but fading impact of “A diamond is forever” has been in part handed a lifeline by the Diamond Producers Association (DPA), which has restarted generic diamond marketing on behalf of the industry. However, the DPA’s $80-million annual budget is only a third of what De Beers was spending on “A diamond is forever,” in inflation-adjusted terms.

The good news is that a robust, natural diamond future lies within the industry itself, and its ability to continue to convey the intangible value that natural diamonds can bring to consumers.

If buying a piece of diamond jewellery was purely a fundamental purchase based on rationality, the impact of lab-created diamonds for instance, would be much direr — and it is, in the case of synthetic diamonds used in industrial application, as the lower-price option of synthetics handily wins if the performance is comparable.

However, diamond jewellery is different from industrial diamond because it is a purchase based on how it makes someone feel. There is significant emotional appeal if diamond jewellery is conveyed properly, and the story behind a natural diamond specifically can be very compelling in that context. Further, narrowing in on the concept of a diamond’s marginal utility (see Footnote 1) and principles that are hardwired into humans such as Zahavian signalling (see Footnote 2), can also be leveraged by the diamond industry to drive demand, as it has in decades prior.

A vibrant diamond industry unequivocally hangs on the industry’s ability to reignite a natural diamond’s appeal and “purpose” in society.

Importantly, more expensive natural diamonds have historically kept at least some resale value after purchase, which is tied to the inherent rarity of higher-quality natural diamonds. This “store of value” component is unique to a natural diamond, relative to a labcreated gem, and certainly leads to a natural diamond’s appeal, especially in a culture like India, one of the diamond industry’s fastest-growing, end-consumer markets.

While this is just an anecdote, a young Indian professional recently shared her thoughts on buying a natural diamond: “For Indians it has never been just the romance of the origin behind diamonds that drew us to them … as a group, we always look for value, what resale value [this jewellery] will have, [and this is what] will ultimately be the clincher.”

Without the rarity component, outside of industrial application, diamonds would arguably be just

2019-01-29 9:48 PM

GLOBAL MINING NEWS

another bauble.

Further, anyone that makes a blanket statement that natural diamonds “are not rare” is leaving out context. Just look again at the chart of diamond miner stocks. If diamonds were easy to find and produce, and if diamonds were “overpriced,” the companies that produce them would be doing much better financially.

If gold could be synthesized, everyone knows what would happen to its value outside of industrial demand. (And, interestingly enough, technically gold can be synthesized with a particle collider and a lot of energy. It is extremely expensive and nowhere near close to economic, but it is possible. Further, in the process an amorphous element, gold, is produced, which is not identifiable from the naturally occurring version. Diamond on the other hand is a mineral, and synthetic diamond can be differentiated from natural with certainty.)

The relative rarity of natural diamond can quite clearly be seen in future supply projections. If the industry maintains or grows demand for natural diamonds in the longer term, the question of insufficient future supply is legitimate.

There is only one new largescale mine in development globally, and only one pre-development project that is likely to reach production-stage within the next 10 years, while close to 20 existing diamond mines will reach exhaustion within the next decade.

Looking even further out, at current diamond prices, the global portfolio of diamond mines will shrink from over 50 commercial mines today to an estimated 14 by 2040. Consequently, production in carat volume will fall from 145 million carats to 60 million carats (see Figure 3).

To maintain what is currently a $90-billion natural diamond jewellery industry, diamond prices would have to more than double, and/or jewellery margins at the end-consumer level would have to increase, in part by decreasing diamond content, to keep even a nominal zero growth environment in dollars.

However, with enough demand, long-term supply projections would most likely improve. There are undoubtedly undiscovered diamond deposits, but there are also known deposits that are simply not economic at current diamond prices. Higher prices would theoretically improve economics of undeveloped assets and lead to improved profitability for miners, and thus shareholders, which would then be more likely to provide funding for exploration and development.

The diamond industry has a long, fascinating and impeccably resilient history, marked with case studies prevalent in textbooks.

The industry has overcome anti-

THE NORTHERN MINER / FEBRUARY 4–17, 2019

Canadian geo Kirk Woodman murdered in Burkina Faso WEST AFRICA

| Veteran explorer had been abducted near exploration site

BY NORTHERN MINER STAFF

K Figure 1 | Components include: ALROSA, Petra Diamonds, Gem Diamonds, Firestone Diamonds, Lucara Diamond, Stornoway Diamonds and Mountain Province Diamonds. All components to converted to $US on weekly basis.

Components market-cap weighted except for ALROSA, which is fixed to 10% of actual market cap. ALROSA still contributes to over 30% of total weight. PAUL ZIMNISKY

irk Woodman, vice-president of exploration for Vancouver-based private gold explorer Progress Minerals, was found dead on Jan. 16 in rural Burkina Faso, after having been abducted a day earlier by as-yet unidentified individuals.

According to a statement by Burkina Faso Minister of Foreign Affairs Alpha Barry, Woodman was kidnapped near the village of Tiabangou at the Bira trend exploration site of junior company Predictive Discovery (ASX: PDI), and his bullet-riddled body was found in GoromGorom, within the Sahel Reserve in the country’s northeasternmost area near the borders with Mali and Niger.

Geologist Kirk Woodman. LINKEDIN

Figure 2 | Sources: U.S. Bureau of Economic Analysis, U.S. Census, International Monetary Fund, Paul Zimnisky estimates and analysis. PAUL ZIMNISKY

trust legislation; threats from CZ, Moissanite and other simulants; the blockbuster film Blood Diamond; and generations of changing consumer preferences and cultures.

Given its track record and an environment that may not be as dire as some would make you believe, it would be prudent to think twice before giving up on the industry.

Figure 3 | Parenthetical after mine name assumes stipulation is met. All production figures in millions of carats. Source: Paul Zimnisky estimates and analysis. PAUL ZIMNISKY

1-16_FEB4_Main .indd 5

5

Footnote 1: Economist Adam Smith is generally credited with first considering the concept of “marginal utility” — or more specifically, the “paradox of value” — in the 18th century, however, the concept has been traced back as far as the 15th century. A common example is the “diamond-water paradox.” It is based on the apparent contradiction that while water is more useful, diamonds command a higher market price because it is not necessarily the total usefulness of the item that determines the price, but the usefulness of each unit of the item, and units of water available far exceed that of natural diamonds, which are non-renewable. Therefore, the usefulness of one more unit of diamond is greater than another unit of water, which is in abundant supply. Thus, diamonds are worth more to people than water on a per-unit basis.

Footnote 2: Zahavian signalling is based on the concept that evolution has led to the requirement for honest signalling between humans due to the obvious desire to deceive each other. In the case of diamonds, a proposal that involves a relatively expensive engagement ring (for the individual giving it) signals to their fiancée

that the proposal is a true, sincere commitment. For instance, it may take a US$6,000 natural diamond to provide a sufficient signal, but an US$800 lab-created diamond may prove insufficient.

— Paul Zimnisky, CFA, is an independent diamond industry analyst and consultant based in the New York metro area. For more detailed regular analysis of the diamond industry, please consider subscribing to his State of the Diamond Market, a monthly industry report that includes supply/demand and diamond price projections, as well as other industry analysis.

Message at the email below for a sample issue.

Zimnisky is a graduate of the University of Maryland’s Robert H. Smith School of Business with a B.S. in finance, and he is a CFA charterholder. He can be reached at paul@paulzimnisky. com and followed on Twitter, @ paulzimnisky.

At press time Paul Zimnisky held a long position in natural diamond companies Lucara Diamond, Stornoway Diamond, Mountain Province Diamonds, Diamcor Mining, North Arrow Minerals and Tsodilo Resources.

There are currently no standalone, publicly traded lab-created diamond companies.

Based in Halifax, N.S., Woodman joined Progress Minerals in 2017, having previously worked for Vancouver-based Endeavour Mining as vice-president of geology and general manager of exploration for French West Africa. Earlier in his 30-year career, he had worked for Halifax-based Etruscan Resources in West Africa.

The murder drew the attention of Canadian Minister of Foreign Affairs Chrystia Freeland, who said at a cabinet meeting in Sherbrooke, Que., that Woodman’s killing is a “terrible crime.”

“Canada is absolutely committed to working with the authorities in Burkina Faso to bring those responsible to justice.

And I think our first thought today is with his family, with his friends — who have received some really dreadful news,” said Freeland, according to Canadian Press.

Woodman’s family also sent out a statement, according to Canadian Press: “Kirk was a loving and hardworking husband, father, son and brother. Not a day will go by that he won’t be missed. Our family would like to thank everyone for the love and support we’ve received, but we ask for privacy while we grieve during this difficult time.”

The Burkina Faso government’s Barry issued a statement in French: “The government of Burkina condemns with the utmost energy this cowardly assassination and reassures that an investigation is underway, and all measures will be taken to find and punish the guilty. The government shares the grief of family, loved ones and the Canadian government, and offers them the deepest condolences.”

The Burkina Faso government had already declared a state of emergency in the region due to an increase in the number of attacks by Islamic extremist groups.

The attack on Woodman follows the kidnapping in the country of Quebec tourist Edith Blais and her Italian companion Luca Tacchetto in mid-December.

Progress Minerals has been working to earn a 70% interest in Bira Trend from Predictive Discovery by spending US$5 million on exploration by October 2021, after which time a joint venture will be formed. Progress is on the cusp of earning its initial 51% interest after having spent its first US$1 million. TNM

2019-01-29 9:48 PM

6

WWW.NORTHERNMINER.COM

FEBRUARY 4–17, 2019 / THE NORTHERN MINER

Geologists Jordan Vervaeke (left) and Rosie Tempest in the field at Balmoral Resources’ Grasset nickel project in Quebec’s Abitibi greenstone belt . BALMORAL RESOURCES

Balmoral finds nickel zones at Grasset BALMORAL From 1

Balmoral discovered the Grasset deposit in 2013, and would go on to table a maiden resource in 2016.

Per that report, Grasset contains 3.45 million indicated tonnes grading 1.56% nickel, 0.17% copper, 0.03% cobalt, 0.34 gram platinum and 0.84 gram palladium for 119 million lb. nickel, 13.2 million lb. copper, 2.3 million lb. cobalt, 37,900 oz. platinum and 93,400 oz. palladium. This represents a high-grade core the company says lies within a larger nickel sulphide body totalling more than 15 million tonnes.

A crashing nickel price in 2016 eventually forced Balmoral to focus on its gold projects. It drilled regional holes at Grasset in late 2015, however, before moving away from the project.

“We actually got a surprising amount of nickel sulphide in a number of locations in that drill program,” Balmoral president and CEO Darin Wagner says in an interview with The Northern Miner. “But that was the last drill program that we ran, because — obviously — the nickel price was very weak in 2016, 2017 and into 2018.”

When the nickel price started to improve in the second half of 2018, Balmoral decided to resume drilling at Grasset. These latest results are a follow up to one of its discoveries from late 2015. Drilling deeper, the company found a different mineralization style — Type 1 komatiite-hosted nickel sulphide mineralization — than the Type 2 komatiite hosted mineralization at the H3 zone of its Grasset deposit.

“We drilled down through the base of the sequence, and lo and behold, there’s a very nice sulphide accumulation,” Wagner says. “A follow up hole caught the same thing about 125 metres away.”

He says the drilling confirms not only multiple mineralization styles in the belt, but also mineralization at different levels of stratigraphy.

“It aligns that belt on a global basis

1-16_FEB4_Main .indd 6

with belts in Australia where these komatiite type deposits are very well known. In Finland, Russia, even the Raglan and Thompson belts in Canada — they’re younger, but a similar style,” Wagner says.

“The one common thing between all those belts is they host a cluster of deposits. So it really does open this area up for a new target type.

You now start to look at canvassing the camp for a district-scale play.”

The company also completed a geophysical survey over the area around its discoveries. It says the survey “really lit up the surrounding rocks,” and suggests the discovery could be even bigger than the drill results show. It intends to return to the area mid-February 2019 and continue drilling.

The company typically breaks its

yearly exploration into two stages.

It does a winter program that takes advantage of Quebec’s frozen ground to drill, and a summer program based on the results of that winter program.

Wagner says the company will likely spend $1 million on this winter’s program. It will follow up on Balmoral’s discovery, but also on some holes in the Grasset deposit itself. He is not yet sure how much the company will spend in the summer.

The company still has assays pending from five new holes at the Grasset deposit, including the deepest hole it has ever drilled at the project.

The hole extends more than 800 metres below surface, representing a 300-metre step out from the defined deposit. The company expects to release results in early February 2019.

Drill core from hole 18-56, which returned 1.35% nickel over 4 metres. BALMORAL RESOURCES

“WE LOOK AT THE SUPPLY-DEMAND EQUATION IN THE NICKEL SPACE AT THE MOMENT AND THINK THAT BY THE TIME WE GET RESULTS FROM OUR WINTER DRILLING, THE NICKEL PRICE SHOULD BE ON THE UPSWING.” DARIN WAGNER PRESIDENT AND CEO, BALMORAL RESOURCES

“When we left off at Grasset in 2015, we had walked it down to about 500 metres vertical depth, and it remained open beneath that depth,” Wagner says. “We just couldn’t justify drilling those more expensive holes when the nickel price was as soft as it was.”

Balmoral also recently f lew a

geophysical survey over its RUM nickel properties, 140 km northeast of Matagami, Que., and is flying a geophysical survey over its Gargoyle nickel property in Ontario.

Meanwhile, the company is exploring options to bring in partners at some of its gold projects. Its Martiniere gold project in Quebec contains an open-pit, constrained, 6.8 million indicated tonnes grading 1.96 grams gold for 431,000 oz. gold, as well as an underground 1.09 million indicated tonnes at 4.54 grams gold for 159,000 oz. gold.

The company has at least six other gold properties across Quebec and Ontario.

“Certainly the winter work will be exclusively on the nickel side,” Wagner says. “And I suspect the bulk of the work in 2019 that we’ll pay for will be on the nickel side of the equation.”

Balmoral shares are trading at 14¢ with a 52-week range of 12¢ to 49¢. The company has a $19-million market capitalization.

“There’s a chance the gold market has a run here a little later in the year, but there are a lot of factors weighing in around the gold market right now that are points of uncertainty,” Wagner says.

“We look at the supply-demand equation in the nickel space at the moment and think that by the time we get results from our winter drilling, the nickel price should be on the upswing, and therefore generating a fair bit of interest in a new discovery.” TNM

2019-01-29 9:48 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 4–17, 2019

7

Australia’s Bellevue Gold gets top marks from Macquarie EXPLORATION

BY TRISH SAYWELL tsaywell@northernminer.com

M

acquarie Research has chosen Bellevue Gold (ASX: BGL) as its top explorer pick in Australia for 2019.

The junior, which trades at A49.5¢ per share and has a US$143-million market capitalization, is delivering high-grade drill results from its Bellevue gold project in Western Australia.

The company says it has delineated over 1 million oz. gold in less than 12 months at a discovery cost of A$15 per oz. gold.

In October 2018, the company increased its inferred resource for the project to 2.6 million tonnes grading 12.3 grams gold per tonne for 1.04 million oz. gold, with the addition of a maiden inferred resource for the Viago lode, which has an estimated 550,000 oz. gold within 0.8 million tonnes grading 22 grams gold.

The past-producing Bellevue mine churned out 650,000 oz. gold (1.6 million tonnes grading 12.4 grams gold per tonne) between 1986 and 1997, and another 142,000 oz. gold between 1895 and 1909 (253,000 tonnes averaging 17.4 grams gold).

Resource expansion drilling over the next few months will focus on three areas: extensions north and south of the Bellevue underground mine, as well as a number of unmined areas near existing underground development; step-out down-plunge and down-dip drilling in the Viago lode; and depth extensions in the top 250 metres north of Bellevue workings targeting shallowdipping mineralization intercepted in historic, shallow broad-spaced drilling.

The company estimates that the Bellevue lode historically produced 700,000 oz. gold at 15 grams gold from underground mining and another 100,000 oz. gold from openpit, and says “a significant amount of mineralized material was left unmined during the previous operation, due to the mining of only ‘bonanza’ style, super-high-grade ore shoots, and leaving the proximal ore behind.”

Bellevue Gold says there is “significant potential” to extend the known mineralization along strike to both the north and south.

In December the company reported drill results from the Bellevue Surrounds area (in and around the historic Bellevue underground area), which it expects to bring into the resource category in the first quarter of this year.

Highlights from the drilling include 2 metres grading 26.1 grams gold from 269 metres’ depth; 4 metres of 16 grams gold from 197 metres; 2 metres of 13.1 grams gold from 417 metres; and 1 metre of 35.2 grams from 75 metres.

Those results, along with mineralized extensions south of the underground workings, “have confirmed the company’s view that there is [a] significant amount of high-grade gold mineralization remaining in and around the historic Bellevue underground area,” Steve Parsons, the company’s managing director, says in a press release.

Parsons, a geologist, was previously managing director of Gryphon Minerals, which he founded and listed on the ASX. Gryphon established the 3.6 million oz. Banfora gold discovery in Burkina Faso.

Teranga Gold (TSX: TGZ) took

1-16_FEB4_Main .indd 7

| Junior has delineated over 1 million oz. gold at past-producer in WA

“COMBINED WITH ITS LARGE AND PROSPECTIVE REGIONAL EXPLORATION TENEMENTS, WE BELIEVE THAT BGL COULD MAKE AN ATTRACTIVE TARGET FOR GOLD MINERS IN THE REGION.” MACQUARIE RESEARCH

over the company for $100 million in 2016.

In October Bellevue Gold raised A$15 million in a private placement to institutional investors of 45 million shares at A34¢ per share.

Macquarie Research said in a recent research note that the company is top pick for its exploration potential. The company “recommenced exploration at Bellevue in late-2017 and quickly discovered the Tribune and Southern Belle lodes, followed up by the recent high-grade Viago lode [22 grams per tonne],” its analysts wrote. “BGL is well funded to drill … and we expect regular resource updates, and potential new discoveries to be key catalysts for the stock over 2019.

“Given its high-grade and close proximity to the sealed highway, we believe Bellevue could displace lower-grade ore into almost any regional processing plant. Combined with its large and prospective regional exploration tenements, we believe that BGL could make an attractive target for gold miners in the region.” TNM

THE PERFECT

GIFT

From top: Power infrastructure, haul roads and the historic Henderson pit at Bellevue Gold’s namesake gold project in Western Australia. BELLEVUE GOLD

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.

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.

99

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

2019-01-29 9:48 PM

8

WWW.NORTHERNMINER.COM

FEBRUARY 4–17, 2019 / THE NORTHERN MINER

Nordgold boosts stake in Columbus Gold

FRENCH GUIANA

| Russian company already owns 55% stake in junior’s Montagne d’Or deposit

BY TRISH SAYWELL

R

tsaywell@northernminer.com

ussian billionaire Alexey Mordashov’s mining company, Nordgold, has increased its stake in Canadian junior Columbus Gold (TSX: CGT; US-OTC: CGTTF) to 9.96% on a non-diluted basis, and 11.18% if it were to exercise all of its warrants.

The Moscow-headquartered company acquired 4.61 million units in a private placement at 20¢ per unit on Jan. 14. Each unit consists of one share and half a warrant, with one full warrant exercisable into a share for 40¢ within a year. Columbus shares traded at 23¢ at press time.

Nordgold already owns a 55.01% stake in Columbus Gold’s Montagne d’Or project in northwestern French Guiana.

The Montagne d’Or deposit has an estimated 3.85 million oz. gold in 85.1 million measured and indicated tonnes grading 1.41 grams gold per tonne, and another 960,000 oz. gold contained within 20.2 million inferred tonnes grading 1.48 grams gold.

A bankable feasibility study in 2017 envisioned an open-pit mine producing 214,000 oz. gold a year at total cash costs of US$666 per oz., and all-in sustaining costs of US$779 per oz. gold.

Mordashov, who ranks 46th on the Bloomberg Billionaires Index and is worth an estimated US$18.1 billion, created Nordgold by spinning off the gold-mining assets of Russian steel giant Severstal in 2012, and since then has been quietly picking up stakes in Canadian mining companies.

Nordgold acquired all of the shares of Northquest that it did not already own in October 2016 — taking possession of the junior’s Pistol Bay gold project in the Arctic.

Pistol Bay, on the west coast of Hudson Bay in eastern Nunavut, 80 km south of Agnico Eagle Mines’ (TSX: AEM; NYSE: AEM) Meliadine, has an inferred resource of 7.9 million tonnes grading 2.94 grams gold per tonne for 742,000 oz. gold.

The Northquest acquisition followed the Russian miner’s ownership creep and eventual purchase of 100% of Canada’s High River Gold Mines. The junior held two underground mines and one openpit mine in Russia (Zun-Holba, Irokinda, Berezitovy), and another two open-pit mines in Burkina Faso (Taparko-Bouroum and Bissa).

Another company set up by Russian company Aterra Capital owns 24.9% of Canadian junior

The camp at Columbus Gold’s Montagne d’Or gold project in northwestern French Guiana. COLUMBUS GOLD

Si lver Bear Resources (TSX: SBR), which is advancing its Mangazeisky silver project in Russia’s Far East. The project, 400 km north of Yakutsk, has 1.30 million indicated tonnes grading 1,079 grams silver per tonne and 1.49 million inferred tonnes grading 504 grams silver.

Mordashov joined Severstal in 1988 and was appointed chief executive officer of the company in December 1996. He eventually took control of the formerly state-owned steel giant by buying up shares from factory workers.

Nordgold started trading as an independent public company via a listing of global depository receipts (GDRs) on the London Stock Exchange in 2012. It delisted at the start of 2017.

Mordashov now owns 99.94% of Nordgold’s 336.3-million ordinary shares.

In 2017, Nordgold produced 968,300 equivalent oz. gold from nine operating mines (five in Russia, two in Burkina Faso, and one each in Guinea and Kazakhstan) — earning revenues of US$1.22 billion. TNM

Published by:

Drillers at Columbus Gold’s Montagne d’Or gold project. COLUMBUS GOLD

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

1-16_FEB4_Main .indd 8

Order Your Copy Today!

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

2019-01-29 9:48 PM

SPECIAL FOCUS

LITHIUM & URANIUM An evaporation pond at Millennial Lithium’s Pastos Grandes lithium project in Salta, Argentina. MILLENNIAL LITHIUM

Millennial Lithium de-risks Pastos Grandes ARGENTINA

| Junior is funded to complete DFS

BY TRISH SAYWELL

F

tsaywell@northernminer.com

arhad Abasov has high hopes for Millennial Lithium’s (TSXV: ML; US-OTC: MLNLF) Pastos Grandes lithium brine project in Argentina’s Salta province.

The CEO expects a definitive feasibility study (DFS) in the second quarter, and the project can start production as early as 2021, generating 25,000 tonnes of lithium carbonate equivalent (LCE) a year.

In January, the company reported that bench-scale process test work on brine from the project by SGS Canada at its facilities in Lakefield, Ont., yielded battery-grade lithium carbonate (Li 2CO3). Final purification test work yielded a project that was 99.92% Li 2CO3 , with low levels of magnesium, calcium, boron, sulphate and iron, and no other detectable metals. Typical lithium carbonate battery-grade for electric vehicles is 99.5% Li 2CO3 , the company says.

“THE 99.92% [LITHIUM CARBONATE] IS ONE OF THE HIGHEST BATTERY-GRADE PRODUCTS IN THE WORLD” FARHAD ABASOV CEO, MILLENNIAL LITHIUM

“We were absolutely delighted to reach such a high percentage of lithium carbonate using standard evaporation and processing techniques,” Abasov told The Northern Miner via email, during a marketing trip to China. “The 99.92% is one of the highest battery-grade products in the world. This will allow us to achieve a higher end price for our product, and should make it quite in demand for battery producers and users.”

The bench-scale testing also provides a framework for the pilot plant, which is in the final design phases, and provides a basis for the potential commercial plant design for the DFS. In the meantime, resource expansion drilling, which started in mid2018, will be finished soon and has yielded some of the highest-grade intercepts to date. Exploration well 18-15 returned 236 metres of 500 milligrams per litre lithium, while exploration well 18-17 returned See MILLENNIAL / 10

1-16_FEB4_Main .indd 9

Global Atomic CEO Stephen Roman (third from left) with colleagues and local elders at the Dasa uranium property in Niger. GLOBAL ATOMIC

Is Global Atomic Stephen Roman’s next big thing?

URANIUM

| Dasa deposit in Niger one of world’s largest and highest grade “WE FOUND IT BY DOING SURFACE PROSPECTING AND CAME ACROSS A BLOW-OUT, SO TO SPEAK, WHERE WE HAD AN AREA OF VERY HIGH GRADES COMING RIGHT TO SURFACE. THE GEIGER COUNTER WENT OFF SCALE — IT WAS RUNNING 30% URANIUM.”

BY TRISH SAYWELL tsaywell@northernminer.com

S

erial mine builder and financier Stephen Roman cut his teeth working for Denison Mines (TSX: DML; NYSE-AM: DNN), the uranium company built by his father.

After starting there as a miner at the age of 19, he spent the next 25 years at the uranium producer before striking out on his own in 1990–1991.

Roman went on to develop several gold projects — the most recent being Harte Gold’s (TSX: HRT; US-OTC: HRTFF) new Sugar mine in Ontario. Among his other accomplishments in Ontario: Building the Black Fox mine, now owned

by McEwen Mining (TSX: MUX; NYSE: MUX), and developing and selling Gold Eagle to Goldcorp (TSX: G; NYSE: GG) for $1.5 billion.

But Roman’s interest in uranium never waned.

In January 2005 he set up Global Uranium Corp. — now called Global Atomic (TSXV: GLO; USOTC: SYIFF) — and focused the company’s exploration dollars on West Africa.

“Typically from Denison days it would take 20 to 30 years to permit uranium deposits in this country, so I said to the team, ‘Let’s look in West Africa’,” he says.

At that time, Niger had just opened its doors to foreign investment, so the company started looking for property there.

One of the first things Roman did was to call geologist George Flach to get his advice. Flach, a long-time associate and friend of Roman, was working on a gold project in Niger at the time.

“I asked him whether there was any chance to pick up some ura-

STEPHEN ROMAN FOUNDER, CHAIRMAN AND CEO, GLOBAL ATOMIC

nium concessions in the country, and he said, ‘Absolutely! Come on over,’” Roman recalls.

Together the pair picked out six concessions covering 3,500 sq. km, all of which saw prior work by the French. The concessions

were granted in 18 months and exploration began in 2007.

Within three years, Global Atomic’s geological team discovered Dasa, one of the largest and highest-grade uranium deposits in the world.

The deposit is located on the company’s Adrar Emoles III permit and lies beneath the Abinky Formation in Niger’s Tim Mersoi basin.

See GLOBAL ATOMIC / 14

SGS DELIVERS BANKABLE EXPERTISE For over 75 years in Canada, our bankable expertise has been providing mining companies with a comprehensive understanding of their deposit and ore variability while optimizing flowsheet design for processing.

SGS IS THE WORLD’S LEADING INSPECTION, VERIFICATION, TESTING AND CERTIFICATION COMPANY

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

2019-01-29 9:48 PM

10

FEBRUARY 4–17, 2019 / THE NORTHERN MINER

LITHIUM & URANIUM

WWW.NORTHERNMINER.COM

Millennial Lithium COO Iain Scarr (left) and Ergy Solar CEO Baltazar Robles at the Pastos Grandes lithium property in Argentina’s Salta province. MILLENNIAL LITHIUM

Millennial Lithium de-risks Pastos Grandes MILLENNIAL From 9

545 metres of 444 milligrams per litre lithium.

“Because of these excellent results, we have actually increased the amount of drilling for this program,” Abasov says. “We expect to finish drilling by the end of February, with

our goal of releasing our updated 43-101, which will expand on our current resource of over 2.1 million tonnes measured and inferred, shortly thereafter.”

The company reported a maiden resource in November 2017 of 2.13 million tonnes of lithium carbonate equivalent (LCE) and

Diversified Athabasca Basin Asset Base with Superior Development Leverage Denison’s assets are highlighted by its 90% owned Wheeler River project, located in the infrastructure rich eastern portion of the Athabasca Basin region, in northern Saskatchewan, Canada. Host to the high-grade Phoenix and Gryphon uranium deposits, Wheeler River is the largest undeveloped uranium project in the eastern Athabasca Basin. In addition, Denison owns a 22.5% interest in the McClean Lake uranium mill, a ~65% interest in the Waterbury Lake property, a strategic 25.17% interest in the Midwest project, and an extensive exploration project portfolio covering ~320,000 hectares in the Athabasca Basin region.

8.14 million tonnes of potash (KCl) equivalent in the measured and indicated resource categories, with another 878,000 tonnes of Li 2CO3 and 3.26 million tonnes KCl in the inferred category.

Millennial has installed a power facility — a joint solar and diesel generation plant — and has two large test ponds in their final evaporation stage to feed a pilot plant that is being developed to produce 3 tonnes per month of lithium carbonate, using concentrated brine from the pilot ponds on the salar. Pilot ponds filled with brine from pumping well 17-4 in September 2018 are concentrating lithium in preparation for lime treatment to lower magnesium content in the brine.

Brine levels in the ponds continue to drop as the contained water evaporates, with levels indicating nearly 50% volume reduction since the ponds were filled, the company notes. Brine is being transferred to isolated smaller ponds as part of the evaporation concentration and purification process, preparing the concentrate feed to the pilot processing plant.

The company has already completed construction of the pilot liming plant, which will be commissioned early in the first quarter of this year. This will allow for the liming of the brine and eliminating most of the contained magnesium in preparation for feeding the processing plant.

Millennial has also hired Ausenco-Vector to complete the environmental impact assessment for the exploitation stage of the project, and the company is working with WorleyParsons to provide data and project information to Ausenco.

According to Millennial, Ausenco says the report will be ready to be submitted to the government in the first quarter, and approval could come as early as the second or third quarter of 2019.

Millennial is fully funded to complete the DFS, and has started securing construction financing, which it plans to conclude in 2019. “We’ve been working diligently in laying the groundwork for financing Pastos Grandes and prepare the project for production in 2021,” Abasov says.

Our early PEA capex numbers came

in at US$410 million. We expect to achieve this in a combination of different financing tools, such as debt, equity, and offtake or lithium prepayment contracts, very similar to what we did with Allana Potash.”

Abasov served as president and CEO of Allana Potash Corp., a potash development company that was sold to Israel Chemical Ltd. for US$170 million in 2015.

The mining executive has spent the last 15 years founding and managing natural resource companies.

He served as executive chairman of Rodinia Lithium, another company developing lithium brine assets in Argentina, and before Allana was a co-founder of Potash One, which was acquired by German potash company K+S for US$430 million in 2010. Before Potash One, Abasov was a senior vice president, strategy, at Energy Metals, which was acquired by Uranium One for US$1.8 billion in 2007.

“The Allana and Rodinia projects were both solar evaporation, which is the same as Millennial Lithium, so we are very comfortable with the project.” TNM

TSX: DML | NYSE American: DNN www.denisonmines.com @DenisonMinesCo

The pilot plant under construction at Pastos Grandes, with evaporation ponds in the background. MILLENNIAL LITHIUM

1-16_FEB4_Main .indd 10

2019-01-29 9:48 PM

LITHIUM & URANIUM

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 4–17, 2019

11

LITHIUM & URANIUM SNAPSHOT Eight energized juniors on the move While lithium and uranium markets were depressed in 2018, a rebound could occur, as demand pressures for both metals grow in the years ahead.

Here’s a look at eight juniors that are active players in lithium and uranium exploration and development.

APPIA ENERGY Toronto-based junior Appia Energy (CSE: API; US-OTC: APAAF) is involved in uranium and rare earth element (REE) exploration in the prolific Athabasca basin district of northern Saskatchewan, and uranium and REE development and mining in northern Ontario’s historic Elliot Lake mining camp.

Appia is led by president and CEO Anastasios (Tom) Drivas, who is described as a business entrepreneur with over 30 years of experience in various industries, including more than 20 years in the mineral resource industry. He is also president and CEO of Romios Gold Resources, a publicly traded company founded in 1995.

Geologist James Sykes is Appia’s vice-president of exploration and development, and has previous work in the Athabasca basin related to NexGen’s Arrow deposit and Hathor’s Roughrider deposits.

Appia’s REE project in the Athabasca is named Alces Lake and is located east of Uranium City. The company describes Alces Lake as the highest-grade REE occurrence known in Saskatchewan, with grades comparable to those found in South Africa’s world-class Steenkampskraal deposit.

In mid-2018, Appia completed the first-ever drill campaign on the property, with 15 holes confirming depth extension of high-grade surface REE mineralization.

Appia plans to return to Alces Lake in 2019 with a $1.5-million exploration program.

Appia’s uranium properties in the Athabasca include Loranger, Eastside and North Wollaston — all in the Wollaston Lake area.

In December Appia raised $1.4 million for exploration work this year at Loranger and Alces Lake.

FISSION 3.0 Fission 3.0 (TSXV: FUU; US-OTC: FISOF) is a Canadian-based uranium project generator with a portfolio of prospects in the Athabasca basin, as well as a property in the emerging Macusani uranium district in southeastern Peru.

The company’s management is headed by CEO and chairman Dev Randhawa and chief operating officer and chief geologist Ross McElroy, who both founded and still run Fission Uranium, which discovered the Patterson Lake South (PLS) high-grade uranium discovery, where advanced exploration and development work is ongoing.

Earlier, the same team also founded Fission Energy, which made the J-Zone high-grade uranium discovery in the Athabasca basin, which was sold to Denison Mines.

Fission 3.0 was created by spinning off grassroots uranium projects from Fission Uranium so the parent company could focus its attention on PLS.

1-16_FEB4_Main .indd 11

A drill rig at on Fission 3.0’s Patterson Lake North uranium project in Saskatchewan. FISSION 3.0 In January, Fission 3.0 started a 1,850-metre, five-hole drill program at its PLN project, located north alongside Fission Uranium’s PLS. The junior says the program will focus on targets within a 700-metre mineralized corridor found by previous drilling. Fission 3.0 plans to drill 3,250 metres at PLN this year.

LSC LITHIUM Ian Stalker-led LSC Lithium (TSXV: LSC; US-OTC: LSSCF) is based in Toronto and describes itself as an “emerging lithium producer that

has amassed a large portfolio of prospective, lithium-rich salars in northern Argentina, and is focused on becoming a significant player in the supply of high-quality lithium product to global markets.”

LSC’s properties are located in the “Lithium Triangle,” where Argentina, Bolivia and Chile intersect, and its 3,000 sq. km land package covers

See SNAPSHOT / 16

FRONTIER LITHIUM Sudbury, Ontario-based Frontier Lithium (TSXV: FL; US-OTC: HLKMF) is exploring its Pak lithium deposit in what it calls “Electric Avenue” — a “newly emerging, premium lithium-metal district,” hosted in the Canadian Shield of northwestern Ontario.

Frontier describes the deposit as having lithium in a “rare, highpurity, low-iron spodumene” that is analogous to the Greenbushes deposit in Australia.

The Pak deposit has a measured and indicated resource of 7.5 million tonnes of 2.02% Li2O and an inferred resource of 1.8 million tonnes of 2.10% Li2O, which has a technical, ceramic-grade spodumene with low inherent iron (below 0.1% Fe2O3).

The junior recently found a lithium-cesium-tantalum pegmatite showing called Spar, which at surface shows a channel cut with similar grade and composition to Pak. The surface exposure of the discovery is three times larger than the Pak pegmatite, with widths greater than 100 metres and a strike length exceeding 300 metres.

Frontier’s goal is to “become a low-cost, fully integrated lithium producer” by developing Pak, where it has already completed a prefeasibility study to assess the economic viability and technical feasibility of producing lithium concentrates.

,/',Ͳ'Z hZ E/hD s >KWD Ed E ^, &>Kt/E' /E KE EdZ d WZK h d/KE 

ĂƐŚ ĨůŽǁ ƉŽƐŝƚŝǀĞ ĐŽŵƉĂŶLJ



,ŝŐŚ ŐƌĂĚĞ ^ ƵƌĂŶŝƵŵ ƉƌŽũĞĐƚ͕ ZĞƉƵďůŝĐ ŽĨ EŝŐĞƌ



DĂũŽƌ ĞdžƉĂŶƐŝŽŶ ƵŶĚĞƌǁĂLJ ŝŶ dƵƌŬŝƐŚ njŝŶĐ ŽƉĞƌĂƚŝŽŶƐ



&ĞĂƐŝďŝůŝƚLJ ^ƚƵĚLJ ĨŽƌ WŚĂƐĞ / ĐƵƌƌĞŶƚůLJ ƵŶĚĞƌǁĂLJ ĨŽƌ ^

ǁǁǁ͘ŐůŽďĂůĂƚŽŵŝĐĐŽƌƉ͘ĐŽŵ d^yͲs͗ '>K ͮ &ƌĂŶŬĨƵƌƚ͗ 'ϭϮ

2019-01-29 9:48 PM

12

FEBRUARY 4–17, 2019 / THE NORTHERN MINER

LITHIUM & URANIUM

WWW.NORTHERNMINER.COM

Lithium opportunities abound in Australia LITHIUM The following is an edited excerpt from the publication “The lithium– ion battery value chain — new economy opportunities for Australia” by the Australian government’s Australian Trade and Investment Commission. To download the full report, visit www.apo.org.au/ node/210341.

A

ustralia has a comparative advantage in its access to the mineral elements needed for lithium-ion battery production. Australia has world’s thirdlargest reserves of lithium and is the largest producer of hard-rock lithium spodumene. Australia also produces nine of the 10 elements used to produce most lithiumion battery anodes and cathodes, and has commercial reserves of graphite — the remaining element.

Australia also has secure access to all of the chemicals required for lithium ion battery production.

Australia’s lithium resource base (over 18% of the world’s economic resources) ranks third globally, behind Chile and China. Australia’s economic demonstrated resources (EDR) of lithium in 2016 stood at 2.73 million tonnes, up from 1.61 million tonnes in 2015. Talison’s Greenbushes project, the world’s largest and highest-grade spodumene deposit, has 50% of Australia’s lithium EDR. Other significant resources include Mount Cattlin, Mount Marion and Earl Grey in the Yilgarn region and the two Pigangoora deposits in Western Australia.

Australia was the world’s largest producer of lithium in 2017, with an output of 14,300 tonnes, equivalent to 76,200 tonnes lithium carbonate, and equivalent to 43% of global lithium output. Produc-

TSXV:

We are on the cusp of a global green energy revolution that will require eff icient highcapacity energy storage solutions.

NLC

| Three processing plants being developed in Western Australia

tion in Australia increased 34% in 2017, as two spodumene operations boosted their concentrate production. Australian exports of spodumene ore have risen from A$117 million in 2012 to A$780 million in 2017, and are expected to rise to A$1.1 billion by 2020.

Australia is developing its lithium extraction capacity faster than any other country. Forecast output from existing Australian operations and planned projects tracked by the Western Australian Department of Mines indicates a potential supply of more than 1 million tonnes lithium carbonate equivalent (LCE) by the early 2020s. This projection indicates underlying industry demand for lithium at a higher rate than forecast by many industry analysts. For example, McKinsey & Co. forecast only 669,000 tonnes global LCE demand in 2025.

The following is a summary of current Australian lithium projects, as of September 2018: • Privately held Talison Lithium operates the world’s largest lithium mining project: the Greenbushes mine near Bunbury, 250 km south of Perth in Western Australia. Greenbushes satisfies one-third of global lithium demand. The company has board approval for another A$516 million to expand the project, which is expected to double lithium concentrate production to 1.95 million tonnes (520,000 tonnes LCE per year). The Greenbushes project has two processing plants, which produce different lithium concentrates to meet specific customer requirements: one producing technical-grade lithium concentrates with a low

NEOLITHIUM • CA

Neo Lithium has become a prominent name in lithium brine industry by virtue of its world class 3Q Project – which has one of the largest and highest-grade brine resources, as well as the lowest combination of critical impurities of any known salar in the world.

The quality and “on the ground” lithium experience of our technical and management teams make Neo Lithium a unique investment story.

Already well capitalized, Neo Lithium expects to continue to rapidly advance the development of its 100% owned 3Q Project located in the well-known Lithium Triangle.

The Best Lithium Brine Development Project in the World

For more information, please contact Neo Lithium at info@neolithium.ca

1-16_FEB4_Main .indd 12

million tonnes, with a grade of 1.4% lithium oxide. Core has an offtake agreement with China’s Yahua. First deliveries are scheduled for late 2019.

The Greenbushes lithium mine in Australia Tianqi Lithium, 250 km south of Perth in Western Australia. TIANQI LITHIUM

AUSTRALIA IS DEVELOPING ITS LITHIUM EXTRACTION CAPACITY FASTER THAN ANY OTHER COUNTRY. iron content; the second producing high-yielding, chemicalgrade lithium concentrate to produce lithium chemicals for making lithium-ion batteries.

• The Mt Cattlin mine, operated

by Galaxy Resources (ASX: GXY; US-OTC: GALXF) and located near Ravensthorpe in Western Australia, began production in 2016. Estimated reserves are 11.6 million tonnes with a grade of 1.20% lithium oxide. At full capacity, ore can be processed at a rate of 1.6 million tonnes per year, with production of spodumene concentrate at 180,000 tonnes per year. Bulk concentrate is shipped to China from the Esperance Port in Western Australia.

• The Mt Marion Mine, 40 km southwest of Kalgoorlie, began production in 2016. This project is jointly owned by Australia’s Mineral Resources (ASX: MIN), 43.1%; Australia’s NeoMetals (ASX: NMT; US-OTC: RDRUY), 13.8%; and China’s Jiangxi Ganfeng Lithium, 43%.

The estimated reserves are 77.8 million tonnes, with lithium oxide grade of 1.37% providing for a 2.7 million tonnes of LCE. Production could reach 400,000 tonnes LCE per year.

• The Earl Grey lithium project in Mt Holland, 370 km east of Perth, is being developed by Australia’s Kidman Resources (ASX: KDR; US-OTC: KDDRF), 50%; and Chile’s Sociedad Quimica y Minera (NYSE: SQM), 50%. This deposit holds an estimated 189 million tonnes spodumene at 7.03 million tonnes LCE. Kidman Resources expects the project will create 300 full-time operational jobs and supply up to $1.7 billion in royalties to the Western Australian Government.

• The Pilgangoora deposit, 120 km south of Port Hedland, is 100% owned by Pilbara Minerals (ASX: PLS; US-OTC: PILBF). Estimated reserves are 226 million tonnes with a 1.27% lithium oxide grade. At full capacity, the project could produce 800,000 tonnes per year of spodumene concentrate.

Production began in 2018, followed by a first shipment of 8,800 tonnes of spodumene concent rate i n September 2018. The company has offtake agreements with China’s General Lithium and Jiangxi

Ganfeng Lithium. In November, the Pilbara board approved a second-stage expansion of the Pilgangoora project, which will see another 3-million-tonneper-year processing circuit added to the operation, taking the project’s annual capacity to 5 million tonnes. The expansion would increase annual production from 314,000 tonnes to between 800,000 tonnes and 850,000 tonnes of spodumene concentrate over a forecast 17year mine life.

• A similarly named Pilgangoora project, being developed by Altura Mining (ASX: AJM; USOTC: ALTAF), began production in July 2018. The company is considering a feasibility study to double production. Estimated reserves are 30.1 million tonnes, with a lithium oxide grade of 1.04% for a total 774,000 tonnes of LCE. Project owners hope to produce 230,000 tonnes per year of lithium spodumene concentrate.

• The Bald Hill lithium-tantalum mine is 100% owned by Alliance Mineral Assets (ASX: A40), which merged in December 2018 with its joint-venture partner at the project, Tawana Resources. Bald Hill’s estimated reserves are 18.9 million tonnes, with a lithium oxide grade of 1.18% for 551,000 tonnes of LCE. Lithium concentrate production began in March 2018.

• Mineral Resources’ Wodgina deposit is 100 km south of Port Hedland in Western Australia. The mine began exporting direct-shipping ore in April 2017 to provide cash f low to fund building a spodumene concentrate plant, which will produce 750,000 tonnes per year of 6% spodumene concentrate.

The estimated resource is 198 million tonnes, with lithium oxide grade of 1.18%, and 5.78 million tonnes of LCE. On Nov. 21, Albemarle (NYSE: ALB) announced that it had signed an exclusivity agreement with Mineral Resources in relation to a potential fifty-fifty joint venture to own and operate the Wodgina hard-rock lithium mine, and develop an integrated lithium hydroxide operation at the resource site.

• C ore Lithium (ASX: CXO) is developing the Finniss lithium project south of Darwin in the Northern Territory. The estimated resource is 3.45

Processing Lithium is typically marketed in the form of lithium carbonate (Li2CO3), lithium hydroxide (LiOH) or lithium chloride (LiCl). Lithium products derived from brine operations can be used directly in end-markets, but hard- rock lithium concentrates must be further processed before they can be used in value-added applications like lithium-ion batteries. Most of Australia’s lithium is exported overseas as a bulk concentrate for processing. Generally Australian shipments contain only 6% Li 2O concentrate.

China dominates lithium processing, accounting for 89% of the world’s lithium hydroxide.

Chinese refineries produce lithium carbonate, lithium hydroxide and lithium chloride — the precursors to lithium-ion battery cathode materials. They are chemically stable (for storage and transport), contain a high proportion of lithium and can be readily transformed into a lithium compound for cathode building.

Australia has attracted investment from two of the world’s largest lithium producers — Tianqi from China, and Albemarle from the United States. These companies are both investing in downstream lithium processing at Kwinana and Kemerton in Western Australia.

There are three processing plants in the development phase in Western Australia: • Tianqi is building a two-stage lithium processing plant in Kwinana, Western Australia, at a cost of A$700 million. Construction began in October 2016 and is scheduled for commissioning towards the end of 2019. The project was estimated to create 500 local construction and 175 full-time production jobs at completion of the first stage at the end of 2018. Once complete, the Kwinana plant will have a capacity of 48,000 tonnes per annum of highpurity, battery-grade lithium hydroxide.

• Albemarle has gotten final regulatory approval for its plans to develop a lithium hydroxide processing plant at the Kemerton Industrial Park, near Bunbury. Albemarle aims to process spodumene ore concentrate from the Talison Greenbushes mine to produce 100,000 tonnes per year of lithium hydroxide by 2025.

• Also active at Kwanina is Covalent Lithium Pty (previously Western Australia Lithium Pty), which is the managing entity for a fifty-fifty joint venture between Kidman Resources and SQM to develop and operate the Mt Holland lithium project, as well as a proposed downstream lithium-processing facility. The companies expect to produce 44,000 tonnes per year of lithium hydroxide in 2021, 37,800 tonnes per year of lithium carbonate, or a combination of both. The project is expected to create 700 fulltime jobs (400 at the refinery) during construction and 300 (150 at the refinery) during operations. TNM

2019-01-29 9:48 PM

LITHIUM & URANIUM

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 4–17, 2019

13

Denison begins $6M drill campaign in Saskatchewan URANIUM

| To drill more than 24,000 metres across three properties

BY RICHARD QUARISA rquarisa@northernminer.com

D

enison Mines (TSX: DML; NYSE-AM: DNN) getting to work on this year’s exploration programs on its Wheeler River, Waterbury Lake and Hook-Carter uranium properties in northern Saskatchewan’s Athabasca basin.

Waterbury and Wheeler River are on the east side of the basin while Hook-Carter is on the west side, near Fission Uranium’s (TSX: FCU; US-OTC: FCUUF) Triple R uranium deposit and NexGen Energy’s (TSX: NXE; NYSE-AM: NXE) Arrow uranium deposit.

“What we’re doing now is being very selective on our exploration front, targeting projects that have the potential to deliver a meaningful discovery in the near-term,” Denison president and CEO David Cates says in an interview with The Northern Miner.

The company plans to drill 13,500 metres across 23 holes at Wheeler, 7,300 metres across 18 holes at Waterbury and 3,900 metres across six holes at Hook-Carter.

It expects to spend $3.2 million at Wheeler this year, and has already begun drilling. Wheeler is a 90-10 joint venture with privately held JCU Exploration, and Denison is funding 90% of all exploration at the project. It consists of two deposits, Phoenix and Gryphon, and several satellite targets.

“In 2018, we started stepping away from those deposits,” Denison vice-president of exploration Dale Verran says. “In 2019, at Wheeler, we’ll continue with regional exploration. We’ve identified some high-priority target areas on the property.”

The company tabled a prefeasibility study for Wheeler in 2018’s third quarter that evaluated developing Wheeler’s Phoenix and Gryphon uranium deposits, both separately and together.

According to the study, Phoenix could produce 6 million lb. uranium oxide per year over a 10-year mine life at US$3.33 per lb.

U3O8 cash-operating costs — which would be the lowest cost of any uranium operation in the world.

The company could achieve that cost through a in-situ recovery (ISR) mining techniques, which use a solution to leach uranium from the host rock, while it stays in the ground. Denison’s goal is to build the project’s tonnage, and develop a pipeline of ISR deposits.

The ISR method is both more environmentally friendly and cheaper than conventional mining methods.

It eliminates shafts, pits, a mill and tailings, bringing a uranium-rich solution to the surface, while leaving everything the miner doesn’t want in the ground. Because the process is so passive, it’s also low on operating costs.

The technique involves a series of borehole wells. The miner injects a mining solution through one of the wells, and, using pressures and the permeability of the rock, the solution migrates through the orebody, leaching a resource, until the miner recovers it through a recovery well.

The miner then runs the solution through a small processing plant to precipitate out the uranium.

The technique requires a deposit with a permeable host, like the sandstone at Phoenix. The company’s regional exploration at Wheeler focuses on sandstone hosted targets.

“Our story has really pivoted to

1-16_FEB4_Main .indd 13

The camp at Denison Mines’ Wheeler River uranium project in northern Saskatchewan. DENISON MINES

being a developer in the past two years, with the prefeasibility study at Wheeler,” Cates says. “If you look at our budgets over the last two years, you’ll see a real switch from exploration, spending around $15 million to now $6 million, but the budget’s going up on the development front. We’re spending $9.3 million for Wheeler this year, primarily on engineering and field tests for our mining method.”

That includes permitting Phoenix, plus running a metallurgical pilot plant tests and ISR wellfield tests to further define the sandstone’s permeability.

Denison can then better model any production scenarios.

Phoenix has 141,000 probable tonnes grading 19.1% U3 O 8 for a contained 59.7 million lb. U3O 8 .

Gryphon, which sits in the hardrock basement, could produce 7.6 million lb. U3O 8 per year over 6.5 years at $15.21 per lb. U3O 8 cash-

operating costs. It contains 1.25 million probable tonnes grading 1.8% U 3 O 8 for a contained 49.7 million lb. U3O 8 .

Together, the two deposits have a $756-million, after-tax net present value attributable to Denison at an 8% discount rate, and a 33% after-tax internal rate of return.

At Waterbury, Denison will spend $1.8 million on exploration.

Denison holds a 65.9% interest in the project. Its partner, Korea Waterbury Uranium Ltd. Partnership, is diluting its interest in the project and will not be funding any share of 2019 exploration.

Denison found Waterbury’s Huskie uranium deposit in 2017. While drilling Huskie in 2017 and 2018, it found northeast structures cutting through the deposit.

That led to a new interpretation that the regional Midwest structure, which controls the company’s nearby Midwest uranium deposits

on its Midwest property, continues up to the eastern side of Waterbury.

Denison tested its theory on the project’s GB trend in 2018 and found basement-hosted mineralization, where the company says the trend intersects the Midwest structure.

In 2019 it intends to follow up on the GB trend and test other targets related to the Midwest structure.

Waterbury’s J zone contains 291,000 indicated tonnes grading 2% U3O 8 for 12.8 million lb. U3O 8 .

At Hook-Carter, Denison will spend $1.4 million to complete a first phase of reconnaissance along 7.5 km of the 15 km Patterson Lake Corridor interpreted at the project.

The company started with nine reconnaissance holes in 2018 that tested geophysical targets.

The property is a joint venture with ALX Uranium (TSXV: AL; US-OTC: ALXEF). Denison owns 80% of the project and will fully fund 2019 exploration. It agreed to

carry ALX’s 20% share of the first $12 million in exploration expenses when it acquired its ownership from ALX in 2016.

“What’s exciting about Hook Carter is our geophysics, and initial drilling has shown that there are multiple target horizons within that Patterson corridor,” Verran says.

“We’ve identified at least three, so we have probably 40 km of strike to test there.

“It’s elephant country for large deposits.”

The company will space its six Hook-Carter holes 1.2 km of strike length apart.

Shares of Denison are trading at 65¢ with a 52-week range of 54¢ to 89¢. The company has a $385-million market capitalization.

It generates cash flow by managing Uranium Participation (TSX: U; US-OTC: URPTF), a holding company that invests most of its assets in uranium. TNM

Powering Tomorrow’s Generation Definitive Feasibility to be released Q2 2019

TSX.V: ML | millenniallithium.com

2019-01-29 9:48 PM

14

FEBRUARY 4–17, 2019 / THE NORTHERN MINER

LITHIUM & URANIUM

WWW.NORTHERNMINER.COM

Workers at Global Atomic’s Dasa uranium project in Niger. GLOBAL ATOMIC

Is Global Atomic Stephen Roman’s next big thing?

GLOBAL ATOMIC From 9

Dasa has an indicated resource of 9.59 million tonnes at 0.31% U3O 8 (64.8 million lb. contained U3O 8) and an inferred resource of 8.44 million tonnes at 0.26% U3O 8 (48.4 million lb. contained U3O 8).

Just under half the total resource could be mined via open pit.

The company is updating the resource with another 22 drill hole gamma probe results completed in 2018, but not included in the latest estimate. All assays are expected by the end of the first quarter of 2019.

“It’s a spectacular deposit,” Roman says. “We found it by doing surface prospecting and came across a blow-out, so to speak, where we had an area of very high grades coming right to surface. The

Geiger counter went off scale — it was running 30% uranium.”

Global Atomic discovered Dasa by taking a different approach to exploration in the Abinky formation — a volcanic tuff horizon that sits under the surface mudstone.

“Uranium mineralization was typically found above this tuff, so local practice was to stop drilling when the tuff horizon was hit with the drill,” he says. “We decided to drill deeper to see what we may hit on the way to bedrock. We wanted to develop a geologic section for this part of the Tim Mersoi basin — a sedimentary basin like our Athabasca basin in Saskatchewan — and when we drilled below the Abinky, we made the big discovery.

No one had ever found anything like this in Niger before.”

LITHIUM & VANADIUM PROPERTIES AVAILABLE NEW DISCOVERIES/MINERAL TARGETS

Nevada Alaska Mining Co., Inc. Fernley, Nevada USA nevadaalaska@sbcglobal.net 775-302-3484

1-16_FEB4_Main .indd 14

At that point the company was still private, so Roman flew to London and based on the early results, raised over $50 million from institutional investors including JP Morgan, Macquarie, and Investec.

“A lot of the big guys came into this when we showed them what we found,” Roman says.

W hen t he ura niu m ma rket tanked and capital dried up in the wake of the Fukushima nuclear disaster in March 2011, he says, the company had fortunately raised enough money to get it through the difficult years, and was even able to raise a bit more as time went on.

In 2013 the company put out its initial resource estimate based on 120,000 metres of drilling and updated the resource in June 2018 on a total of more than 150,000 metres of drilling, tripling the indicated resource within the conceptual open-pit mining area.

It also completed a preliminary economic assessment that looked at two options: building a direct ship ore operation that would not require a mill and would cost US$35 million to start mining; and building a stand-alone facility that would cost about US$320 million, including US$141 million for an on-site mill, and which could produce 4 million to 7 million lb. U3O8 a year.

Global Atomic focused on the first option and has signed a memorandum of understanding with France’s national uranium company, Orano Mining (formerly AREVA Mining), for a direct ship ore operation.

Orano, one of the world’s largest uranium producers, has a uranium processing plant, 80 km north of Dasa near the town of Arlit. Under the agreement, Global Atomic would deliver 100,000 tonnes of U3O 8 a year at a minimum grade of 0.1% U3O 8 for at least five years.

Global Atomic is undertaking a feasibility study on this option, while Orano is doing more metallurgical testing. Roman says he hopes to wrap up a deal by midyear. If all goes according to plan, Global Atomic could ship U3O 8 to Orano as early as 2020.

The agreement shortens the time to initial production and cash flow, as no mill would be required to process Dasa “ore”, Roman says, and reduces pre-development costs and capital expenses.

“They have two plants so theoretically they could take everything we produce,” Roman says.

“TYPICALLY FROM DENISON DAYS IT WOULD TAKE 20 TO 30 YEARS TO PERMIT URANIUM DEPOSITS IN THIS COUNTRY, SO I SAID TO THE TEAM, ‘LET’S LOOK IN WEST AFRICA.’” STEPHEN ROMAN FOUNDER, CHAIRMAN AND CEO, GLOBAL ATOMIC

The arrangement would be profitable, even at current uranium prices of US$29 per lb. U3 O 8 , he argues.

“We don’t need US$60 to US$70 per lb. uranium to do this project,” he continues. “So we’re developing the final terms for the ore shipments, and we’ll plug those in the feasibility study, and then complete the mine plan.”

“You have to come up with plans that work, and the association with Orano is a great way of getting the project kicked off,” he continues.

“Eventually the uranium price goes up to US$50 per lb., and we could build our own plant, but we can assess that at that time.”

For his part, Roman is convinced that uranium could move higher with production cutbacks in Kazakhstan and by Canada’s Cameco (TSX: CCO; NYSE: CCJ) tightening the market, and with reactor builds in countries like China and India.

“There are around 300 reactors being built around the world,” he says. “Everybody likes renewables, but you still need that base load power, and nuclear is the best way to do it. You’re not damming rivers, creating huge environmental disasters — you’re creating carbonfree nuclear energy.”

Roman expects to complete the feasibility study and apply for mining permits before year-end — a speed many others in the uranium sector would envy.

“In Canada it can take decades to get all the permits,” he says. “In Niger it is four to six months … this is a project that can go into production very quickly.”

In addition to Dasa, the company has also developed resources at three other deposits on its concessions: Tin Negouran (10 million lb.

U3O 8), Dajy (17 million lb. U3O 8) and Isakanan (34 million lb. U3O8).

To be sure, companies operating in Niger and elsewhere in West Africa must be on guard against terrorists operating in the region, Roman says, but Global Atomic has a secured camp in an area that

Nigerian, French and American militaries patrol regularly.

“The big point I think everybody needs to understand is that Niger decided to totally align themselves with the West,” he says. “The Americans in the last two or three years have built three military bases in Niger, and because the Niger government views the basin as a prime area generating foreign exchange due to uranium mining — it’s the world’s fourth-largest uranium producer — they want to protect that basin, so there is a huge security net around that area, developed by the French and Americans, primarily.”

Roman adds that both the French and Americans have bases in the town of Arlit and “the country has been totally fortified — the Niger military has been updated with modern equipment, and it’s actually much better than it used to be.”

Global Atomic is able to fund its Dasa project with cash flow from the company’s zinc asset in Turkey.

It owns a 49% stake in the Befesa Silvermet Turkey joint-venture, which specializes in managing and recycling residues from the steel, zinc and aluminium industries. The joint venture runs an electric arc furnace dust recycling business that recovers zinc and produces a highgrade concentrate sold to smelters, primarily in Europe and Asia. In 2017, the joint venture produced 33 million lb. zinc in concentrate.

The company is expanding the plant from 30 million lb. to 60 million lb. zinc a year, and the new plant is scheduled for completion

by September 2019.

Global Atomic’s consolidated net income was $5.6 million for the nine months ended Sept. 30, 2018, compared to $5.8 million for the same period in 2017.

Over the last year, Global Atomic’s shares have traded within a range of 20¢ to 45¢ per share. At press time it traded at 34¢ per share.

The company has 142 million shares outstanding for a $48-million market capitalization. TNM

2019-01-29 9:49 PM

LITHIUM & URANIUM

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 4–17, 2019

15

UxC’s Nick Carter expects uranium’s ‘gradual upward movement’ INTERVIEW

| Variety of factors at play in complex uranium market is projected to be 196 million lb.

U3O8 . If we assume global utilities on average are carrying three years of inventory, at least 588 million lb.

U3O8 would need to be held. Furthermore, a large part of China’s 450 million lb. U3O8 in inventory should be considered strategic.

More long-term contracts would likely be signed if the spot price moves higher, resulting in a smaller premium between the term and spot price, or even the spot price pushing above the long-term contract price.

One issue impacting forward-term contracting for utilities is that some are unsure how much longer their nuclear plants will operate, and some utilities may be less willing to contract further forward.

BY TRISH SAYWELL tsaywell@northernminer.com

N

icolas Carter is an executive vice-president of uranium at UxC LLC, one of the nuclear industry’s market research and analysis companies. Carter has 21 years of nuclear industry experience. He manages and coordinates uranium consulting projects and products, including The Ux Weekly, Uranium Market Outlook, Uranium Suppliers Annual and Uranium Production Cost Study. During his career he has provided strategic consulting to major commercial companies in the nuclear fuel industry and advised government and international organizations on uranium market and policy issues.

He specializes in economic analysis and forecasting, specifically in the areas of worldwide U3O8 production capability, production costs and price projections. He recently spoke with The Northern Miner about his outlook for uranium.

The Northern Miner: Uranium doesn’t really trade like many other commodities, and buyers and sellers typically negotiate contracts privately.

Utilities usually buy their fuel in fourto 10-year contracts to lock in the price. Is it true that there have been no significant long-term contracts signed in the last two years?

Nick Carter: Uranium does trade in an active spot market, although it doesn’t have the liquidity of many other key commodities, such as coal or oil. In 2018, spot volume consisted of 88.5 million lb. U3O8 from 440 transactions, with 25% of the volume coming from utility purchases.

The term market accounted for volume of 90 million lb. U3O8 from 30 transactions in 2018. Among U.S. utilities, average contract lengths for term contracts were much shorter at three years compared to an average of seven years for non-U.S. utilities.

Additionally, one non-U.S. utility purchase accounted for 28 million lb. U3O 8 over 10 years. Term contracting volumes have picked up slightly over the past couple of years, but most of these contracts have continued to be signed at fixed prices or market-related prices (along the forward price curve).

TNM: Where do you see uranium long-term and short-term prices going by year-end? What is your outlook for the next five years?

NC: The current spot uranium price, as of Jan. 22, is US$28.80 per lb.

U3O8 , and the long-term price resides at US$32 per lb. U3O 8 , as of the end of Dec. 31, 2018. We expect to see a continued upward trend in the spot price over the rest of the year, as producers buy lower-cost inventories and utilities in the next 11 months. For 2019, we project the spot price could push into the low- to mid-US$30s range, with gradual upward movement to the high US$30s to low US$40s five years from now.

How quickly the spot price increases will depend largely on when Cameco’s McArthur River mine resumes production, and whether Kazakhstan boosts production from excess capacity at existing in-situ recovery (ISR) mines. The degree of movement in long-term price typically lags the spot market, but we could see a considerable jump later in the year on the heels of the Section 232 investigation. As the spot price moves higher, utilities are

“BY 2024, WE EXPECT GLOBAL PRODUCTION WILL INCREASE TO A RANGE OF 160 MILLION TO 165 MILLION LB., IN RESPONSE TO HIGHER DEMAND AND LOWER SECONDARY SUPPLIES.” NICOLAS CARTER EXECUTIVE VICE-PRESIDENT OF URANIUM, UxC LLC

likely to more closely consider baseescalated term contracts, especially if they have some surety regarding the longevity of their reactors. UxC expects the long-term price could reach US$36 per lb. U3O8 this year, with a price in the mid-$40s five years from now.

TNM: What is the marginal cost of production? Is it still around US$40 per pound? Is there any hope that production costs will go down?

NC: One of the major issues is that there is still a fair amount of higher-cost, inelastic production that meets the demand of many domestic nuclear programs — China, India and Russia, for example. Meanwhile, higher-cost production in Niger continues to supply part of France’s nuclear power program. The marginal production cost is in the low- to mid-US$30s, but a significant amount of low-cost (sub-US$30) production has been removed from the market in the last couple of years to lower global inventories and better align production with demand.

TNM: Is it true that some of the big uranium producers are buying product on the spot market because it’s cheaper than producing it themselves? And for the same reasons, you are seeing utilities preferring to buy what they need on the spot market because the price is so low? If you’re a utility, the question is: ‘I can buy it on spot at $28.80 per lb., or I can sign a long-term contract.’ No one wants to be the first to sign a new long-term contract, correct?

NC: Yes, Cameco has publicly stated that it is purchasing spot uranium to place into committed sales contracts.

In November 2018, the company said it expected to buy between 10 million to 12 million lb. U3O 8 in 2019 to meet delivery commitments and keep desired inventory levels. In the U.S., Ur-Energy and Peninsula Energy have bought spot uranium to feed into delivery commitments.

Utilities, particularly in the U.S., have a preference for spot uranium

TNM: Would you say we’ve seen the bottom of the cycle in uranium?

Cameco’s McArthur River uranium mine in Saskatchewan, as seen in 2014. CAMECO

or mid-term uranium contracts (two to four years) at fixed prices.

The Section 232 investigation is also impacting U.S. utilities, as many of them are holding off the market until a determination is made by the Department of Commerce in the case. Furthermore, some utilities are unsure how long some of their reactors will operate without the benefit of clean energy legislation, and this uncertainty prevents them from committing to longer term-contracts.

TNM: There seems to be a consensus forming in the uranium space (again) that the market for uranium is on the brink of getting better. Would you agree, and why?

NC: The uranium market has slowly improved since the spot price bottomed out at US$18 per lb. in December 2016. Much of this improvement comes from production cutbacks and working down of low-cost inventories, in response to declining demand since the Fukushima accident in 2011. We should witness continued improvement in the market, but this could be stymied if a significant amount of production returns to the market at higher price levels.

Between the McArthur River mine, which is on standby, and excess capacity at operating low-cost Kazakh ISR mines, upwards of 35 million lb. U3O8 could be brought back to the market relatively quickly.

increase to a range of 160 million to 165 million lb., in response to higher demand and lower secondary supplies.

TNM: Are uranium inventories now at historic lows, as mines have been suspended?

NC: Uranium inventories among producers have declined with the recent curtailment of production globally. However, inventories among global utilities are still quite substantial — in the U.S., utility inventories totalled 124 million lb.

U3O8 equivalent in 2017, or 2.7 years, while in the European Union, utility inventories totalled 127 million lb.

U3O 8 equivalent in 2017, or three years. Meanwhile, China continues to build its stockpile of uranium as it grows its nuclear power program, with over 450 million lb. U3O8 held.

Overall, uranium inventories are on the decline as the market rebalances, but they are not near historic lows.

It’s important to note that while global inventories are still high, not all of this material is considered “mobile.” Uranium demand in 2019

NC: The bottom of the cycle was likely reached in December 2016, when the spot price fell to US$18 per lb. U3O8 . As the spot price approaches US$30 per lb. U3O 8 , the bigger question is: ‘At what point will we witness greater price resistance?’ As noted previously, there is still a fair amount of low-cost, idled production capacity that could be brought back relatively quickly if spot prices continues to trend higher.

TNM: Some people think that when the price turns, it will turn quickly, as utilities will rush to lock in the lowest possible long-term contract prices. Would you agree, and why?

NC: The spot price was as low as US$21 in April 2018, so it did turn rapidly in the following months, with the curtailment of more production and the rise in investor purchasing.

Utilities often act with a herd-like mentality, but their elevated inventory levels provide them with some comfort in not having to jump into the market right away if spot prices spike. And as previously stated, some utilities are cautious because they are uncertain about how much longer their reactors may be operating, which limits their ability to procure uranium further forward. TNM

s Zd/^ D Ed

TNM: What about secondary sources of supply?

NC: The uranium market is heavily influenced by the availability of various secondary sources of supply.

These supplies differ, but they are all generally a form of inventory that is being returned to the market. As of December 2018, it is estimated that total secondary supplies in all forms account for 48 million lb.

U3O8 per year, or 26% of total world supply. Going forward, these levels are expected to decline gradually.

TNM: What was global uranium production last year and in 2017?

What do you expect it will be this year, and for the next few years?

Appia Energy Corp.

Suite 500 – 2 Toronto St., Toronto ON M5C 2B6 Phone: (416) 546-2707 Email: appia@appiaenergy.ca Web: www.appiaenergy.ca

NC: In 2017, global uranium production totalled 154 million lb. and fell to a preliminary 138 million lb. in 2018.

For 2019, we project an estimated 138 million lb., uranium. By 2024, we expect global production will

^ ͗ W/͕ Kd Y ͗ W &͘h^͕ 'ĞƌŵĂŶLJ͗ Ϭ/͘&͕ Ϭ/͘Dh͕ Ϭ/͘

1-16_FEB4_Main .indd 15

2019-01-29 9:49 PM

16

FEBRUARY 4–17, 2019 / THE NORTHERN MINER

LITHIUM & URANIUM

WWW.NORTHERNMINER.COM

A drill site at Neo Lithium Tres Quebradas (3Q) lithium brine project in Argentina’s Catamarca province. NEO LITHIUM

LITHIUM & URANIUM SNAPSHOT SNAPSHOT From 11 multiple, non-contiguous salars.

Its five development-stage lithium projects consist of lead project Pozuelos–Pastos Grandes, as well as Salinas Grandes (Salta), Salinas Grandes (Jujuy), Rio Grande and Jama.

In January, LSC entered into an agreement to be bought by privately held, South American oil and gas developer Pluspetrol Resources for 66¢ per LSC share, or $111 million in total.

LSC chairman Stephen Dattels said in a release that “LSC has been able to produce a large lithium carbonate resource at its Pozuelos–Pastos Grandes project as well as a robust PEA. It also has an extensive portfolio of highquality lithium exploration assets, most notably at Rio Grande and Salinas Grandes. However, since February 2018, capital markets have been difficult for junior lithium explorers in Argentina and elsewhere, resulting in a correction in market valuations across the board. Notwithstanding this market correction, and due

to our progress in advancing our top-tier assets, we have achieved an opportunity for shareholders to realize a liquidity event at normal market premiums. LSC’s team of technical and corporate professionals, led by Ian Stalker, are deserving of substantial credit for delivering this result, and in recognition thereof, Ian Stalker has been granted a share award

by LSC’s Board of Directors of 1 million shares.”

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

The company says 3Q is one of the highest-grade lithium brine projects in the world. It has the lowest

JOB OPPORTUNITIES

impurity content of any known salar; its salar footprint is large, at over 150 sq. km; and it is wholly owned and fully permitted.

The junior is planning a drill program at its Paterson Lake property, located 60 km north of Kenora in northwestern Ontario.

Neo Lithium contracted GHD — an engineering firm with expertise in lithium brines — to finish a prefeasibility study at 3Q by firstquarter 2019. GHD did a preliminary economic assessment for 3Q in 2017.

Power Metals has two lithium drill targets at Paterson Lake named Marko’s Pegmatite and Jesse’s Pegmatite, located along two parallel northeast–southwest petalite pegmatite trends.

In January Neo Lithium reported that it had completed and tested a pilot plant built by the Instituto de Investigaciones Tecnologicas from Universidad de Concepcion in Chile, and shipped the plant to a warehouse in Fiambala, in Argentina’s Catamarca province.

Once on-site at 3Q later in the first quarter, the plant will produce lithium carbonate from lithium brine being collected in pilot evaporation ponds.

The annual capacity of the pilot ponds is over 500 tonnes of an approximate 4% lithium brine per year.

Neo Lithium chief operating officer Gabriel Pindar said in a release that management “hopes the proposed prefeasibility study will support that the plant can produce battery-grade lithium at one of the most competitive cash costs of the market.”

POWER METALS

ADVERTISE YOUR JOB OPENINGS Joe Crofts 416-510-6816, jcrofts@northernminer.com Toll free North America: 1-888-502-3456, (ext. 43729)

1-16_FEB4_Main .indd 16

Vancouver-based Power Metals (TSXV: PWM; US-OTC: PWRMF) says it is “committed to building an arsenal of projects in lithium and other power metals, as we see an unprecedented opportunity to supply the staggering growth of the lithium battery industry.”

Highlights from previous work at Marko’s Pegmatite include: 268 metres strike length at surface; a range of 3.36% to 4.43 % Li2O from 13 grab samples; and 0.056% to 1.4% tantalum per tonne from five grab samples.

Power Metals says that nine historic drill holes on the Patterson Lake property show there is lithium and tantalum mineralization at depth on Marko’s Pegmatite, and it is not just one pegmatite dike, but two: Marko’s and North Marko’s.

UEX Saskatoon-based UEX (TSX: UEX; US-OTC: UEXCF) is involved in 19 uranium projects in the eastern, western and northern perimeters of Saskatchewan’s Athabasca basin.

These 19 projects include eight that are 100% owned and operated by UEX; one joint venture with Orano Canada Inc. and ALX Uranium Corp. that is 50.1% owned by UEX, and is under option and operated by ALX; eight joint ventures with Orano; one joint venture with Orano and JCU (Canada) Exploration; and the Christie Lake project, which is 60% owned by UEX with JCU (Canada) Exploration Co. Limited and operated by UEX. The company is also involved in a wholly owned cobalt-nickel exploration project named West

Bear in the Athabasca basin.

In January, UEX reported that drilling is underway at West Bear property with the objective of expanding the high-grade cobaltnickel deposit. The 2019 winter exploration program will consist of 17,000 metres of drilling in up to 160 holes using two drill rigs.

Initially, the program will focus on extending high-grade cobalt mineralization along strike to the west.

WEALTH MINERALS Vancouver-based Wealth Minerals (TSXV: WML; US-OTC: WMLLF) is a junior active in Canada, Mexico, Peru and Chile, with a focus on acquiring and developing lithium projects in South America.

The Hendrik van Alphen-led junior says that with its Atacama Salar project, it has a “large land position in the lithium industry’s leading salar,” and that its development plans are to follow upon the success of third-party production facilities south of its land position in the Atacama Salar. These third-party facilities represent a third of global lithium production.

In January, Wealth Minerals arranged a $1.5-million private placement, with net proceeds to help fund exploration and development of its Atacama project, as well as general corporate purposes.

In December, Wealth added battery-technology veteran Stefan Schauss to its board, and hired Cesar Jil to be general manager for Wealth in Chile, having previously served as manager of lithium-extraction technologies at Albemarle. TNM

2019-01-29 9:49 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / FEBRUARY 4–17, 2019

17

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

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

R

R

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

We

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_FEB4_ProDirectory .indd 17

Order Your Copy Today!

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

2019-01-28 2:23 PM

18

WWW.NORTHERNMINER.COM

FEBRUARY 4–17, 2019 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / JANUARY 21–25 The S&P/TSX Composite Index rose 0.41% to 15,366.05. The S&P/TSX Global Mining Index gained 1.71% to 68.54, while the S&P/ TSX Global Base Metals Index fell 1.03% to 107.44. Spot gold moved US$21.30 per oz. higher to finish the week at US$1,302.60 per oz., and the S&P/TSX Global Gold Index jumped 5.20% to 181.21.

Royal Nickel posted the highest trading volume based on drill results from its Beta Hunt mine in Australia. Drilling in the sediment layer within the Western Flanks shear zone returned 7,621 grams gold per tonne over 0.3 metre within a 2-metre intercept of 1,017.3 grams gold. The hole was drilled within 45 metres of existing development.

“Only Kirkland Lake’s Fosterville mine and Pretium Resources’ Brucejack mine have yielded higher-grade intersections over the last four years,” the company says. Highlights from drilling in the A Zone targeting the sediment layer near the Father’s Day vein returned 119.37 grams gold over 6 metres.

Royal Nickel’s shares rose 12¢ to 66¢.

Shares of Endeavour Mining were up $1.87 to $21.92, on strong production results. The company produced 612,000 oz. gold in 2018, up 52% year-on-year and surpassing the top end of its 555,000 to 590,000 oz. guidance.

All-in sustaining costs dropped US$30 per oz. to US$745 per oz., and below the guid-

ance range of US$760 to US$810 per oz. gold.

For 2019, AISCs could range from US$760 to US$810 per oz., and full-year production could increase to 615,000 to 695,000 oz. gold.

The company plans to spend US$45 million to US$50 million on exploration this year.

Endeavour operates two mines in Burkina Faso (Houndé and Karma) and two mines in Côte d’Ivoire (Agbaou and Ity).

SSR Mining’s shares climbed $1.19 to $16.61.

In January the company reported that it had exceeded its 2018 production guidance, churning out over 345,000 equivalent oz. gold, and says it expects to produce 395,000 equivalent oz. gold in 2019 at cash costs of US$700 per equivalent oz. gold. The company has three operating mines: Marigold in Nevada, Seabee in Saskatchewan, and joint-venture Puna in Argentina.

TSX MOST ACTIVE ISSUES

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

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

RNX BTO TV K ABX LUN SU FM G YRI

56236 0.79 0.51 0.66 + 0.12 22734 3.91 3.43 3.86 + 0.33 19462 0.37 0.32 0.35 unch 0.00 16576 4.35 4.05 4.28 + 0.16 15900 16.26 15.37 16.20 + 0.56 13824 5.95 5.46 5.85 - 0.11 13813 43.28 41.23 42.35 - 0.14 12984 13.31 12.12 13.09 + 0.39 12072 14.32 13.42 14.29 + 0.51 10865 3.43 3.07 3.41 + 0.35

Shares of Barrick Gold rose 56¢ to $16.20.

The company reported early 2018 production of 4.53 million oz. gold (excluding production from Randgold Resources). Barrick’s early production came in at 383 million lb. copper. Randgold Resources reported early 2018 production of 1.28 million oz. gold.

Pan American Silver’s shares were down 56¢ to $18.25. The company produced 24.8 million oz. silver, 178,900 oz. gold, 64,800

tonnes zinc, 22,400 tonnes lead and 9,800 tonnes copper in 2018 at preliminary cash costs per payable oz. silver, net of by-product credits, of US$3.35 per oz. silver. The company forecasts 2019 production of 27.5 million oz. silver, 172,500 oz. gold, 67,000 tonnes zinc, 25,000 tonnes lead and 10,300 tonnes copper, excluding its acquisition of Tahoe Resources.

The company owns and operates six mines in Mexico, Peru, Argentina and Bolivia. TNM

TSX GREATEST PERCENTAGE CHANGE

Goldgroup Mng Tanzania Rlty St Augustine Mandalay Res Champion Iron Anglo Pac Grp Royal Nickel Xanadu Mines Alacer Gold Chalice Gold M General Moly Potash Ridge U3O8 Corp Argex Titanium Karnalyte Res Nickel Creek Orvana Mnrls Condor Gold Largo Res Loncor Res

GGA TNX SAU MND CIA APY RNX XAM ASR CXN GMO SOP UWE RGX KRN NCP ORV COG LGO LN

303 324 2322 3479 4912 1 56236 50 3105 632 25 887 123 2525 51 1575 361 7 3920 63

0.07 0.65 0.03 0.15 1.37 2.60 0.79 0.14 3.21 0.13 0.36 0.05 0.26 0.06 0.30 0.09 0.16 0.60 3.06 0.09

0.04 0.41 0.02 0.11 1.08 0.00 0.51 0.11 2.55 0.11 0.28 0.04 0.00 0.05 0.25 0.07 0.14 0.53 2.67 0.00

0.07 0.63 0.02 0.14 1.35 2.60 0.66 0.14 3.20 0.13 0.28 0.04 0.20 0.05 0.25 0.07 0.14 0.53 2.72 0.08

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

TSX GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Franco-Nevada Kirkland Lake Agnico Eagle Endeavour Mng Seabridge Gld SSR Mining MAG Silver Centerra Gold Aura Minerals Wheaton Prec M Nexa Resources Pan Am Silver Caledonia Mng Largo Res Teck Res Gran Colombia Altius Mnrls Suncor Energy Lithium Amer Lundin Mng

55.6 46.5 33.3 22.7 22.7 22.6 22.2 21.7 21.2 18.2 22.2 22.2 18.4 18.2 16.9 12.5 12.5 11.7 11.4 11.1

VOLUME WEEK (000s) CLOSE CHANGE

FNV KL AEM EDV SEA SSRM MAG CG ORA WPM NEXA PAAS CAL LGO TECK.B GCM ALS SU LAC LUN

1677 96.35 2845 38.66 2768 54.64 1024 21.92 300 17.73 1115 16.61 736 11.04 2452 6.83 11 20.01 2879 25.89 16 12.26 1616 18.25 35 7.57 3920 2.72 6382 30.34 409 3.28 323 11.10 13813 42.35 388 4.18 13824 5.85

+ 4.87 + 3.72 + 2.90 + 1.87 + 1.23 + 1.19 + 1.17 + 0.71 + 0.66 + 0.64 - 1.34 - 0.56 - 0.39 - 0.35 - 0.29 - 0.25 - 0.21 - 0.14 - 0.13 - 0.11

TSX VENTURE EXCHANGE / JANUARY 21–25 The S&P/TSX Venture Composite Index rose 1.52% to finish the trading week at 604.56.

A discovery at Goldsource Mines’ Eagle Mountain gold project in Guyana sent the junior explorer’s shares surging 117% — or 7¢, to 13¢ — and made it the week’s most heavily traded stock. Results from the first two diamond drill holes at the Salbora target returned 6.52 grams gold per tonne over an estimated true width of 40 metres from surface and 2.82 grams gold over an estimated true width of 40 metres from surface. The holes were drilled below a previously announced surface trench, which cut 123 metres grading 1.92 grams gold. The Salbora discovery is located within a regional structural trend several kilometres long.

Shares of Roscan Gold surged 192% — or 13¢ to 19¢ — after reporting it had found gold at its Kandiole project in western Mali. Aircore drilling designed to test strong termite and soil gold anomalies found saprolite-hosted gold mineralization in each of the two test areas. The air-core drilling was done over five anomalies and tested with seven lines of AC holes drilled across the target areas.

The anomalies were found by a sampling program that had covered only 20% of the land package. The best results included 5.94 grams gold per tonne over 14 metres from

surface; 8.68 grams gold over 14 metres starting 10 metres downhole; 8.47 grams gold over 18 metres from 26 metres downhole; and 4.98 grams gold over 8 metres from 16 metres downhole. More gold-in-termite and termite anomalies remain to be tested, while the company continues its sampling program.

Pelangio Exploration shares jumped 80% to 36¢ per share. The company announced it has signed an option agreement to acquire a 100% stake in the Dome West property, in Timmins, Ont., which is next to both the former Paymaster mine property and Goldcorp’s Dome mine. (The property is 800 metres west of the Dome mine open pit. Pelangio says it plans to evaluate a prospective porphyritic sill unit “interpreted to extend across a substantial portion of the Dome West property at the TSX-V MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Goldsource Min GXS 12220 GGX Gold GGX 9251 Gratomic GRAT 8829 IDM 8263 IDM Mining Nickel One Res NNN 8146 RosCan Gold ROS 8076 Tasca Res TAC 8023 Revelo Res RVL 7332 Latin Am Mnls LAT 6578 GTA Res & Mng GTA 5911

0.15 0.13 0.16 0.06 0.06 0.19 0.07 0.02 0.03 0.03

0.06 0.09 0.12 0.06 0.04 0.06 0.04 0.01 0.02 0.02

0.13 + 0.07 0.10 unch 0.00 0.13 - 0.02 0.06 unch 0.00 0.05 + 0.01 0.19 + 0.13 0.04 - 0.01 0.02 + 0.01 0.02 - 0.01 0.02 unch 0.00

1,000-foot elevation level from the former Paymaster mine property.” It also announced a non-brokered, flow-through private placement consisting of just over 566,000 shares at 26.5¢ per share, for proceeds of $150,000.

New Pacific Metals’ shares gained 40¢ to close at $1.90, on news of near-surface mineralization intercepted in 94 of 98 holes drilled at its wholly owned Silver Sand proj-

ect in Bolivia. Significant drill intersections included 136 metres grading 240 grams silver per tonne starting at 51 metres downhole, including 77 metres of 383 grams silver, and 274 metres averaging 84 grams silver from 1 metre downhole. Other assays included 106 metres of 154 grams silver from 12 metres, and 76 metres grading 205 grams silver from 64 metres downhole. TNM

TSX-V GREATEST PERCENTAGE CHANGE

Western Troy C RosCan Gold Goldsource Min TVI Pacific Adex Mining Castle Peak Mg Revelo Res Running Fox Rs Desert Lion Pelangio Expl Jayden Res Knick Expl Barker Min Indico Res Troymet Expl Central Tim Ex Stria Lithium Blue Star Gold Chantrell Vent Westhaven Vent

WRY ROS GXS TVI ADE CAP RVL RUN DLI PX JDN KNX BML IDI TYE CTEC SRA BAU CV.H WHN

56 8076 12220 121 175 2429 7332 58 3657 425 5791 759 151 70 360 272 101 197 473 4837

0.10 0.19 0.15 0.01 0.01 0.02 0.02 0.02 0.19 0.38 0.17 0.01 0.01 0.01 0.01 0.10 0.04 0.04 0.06 1.08

0.00 0.06 0.06 0.01 0.01 0.01 0.01 0.02 0.10 0.20 0.01 0.01 0.01 0.01 0.01 0.06 0.03 0.03 0.05 0.69

0.06 0.19 0.13 0.01 0.01 0.02 0.02 0.02 0.19 0.36 0.03 0.01 0.01 0.01 0.01 0.06 0.03 0.03 0.05 0.75

TSX-V GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

+ 1100.0 + 192.3 + 116.7 + 100.0 + 100.0 + 100.0 + 100.0 + 100.0 + 85.0 + 80.0 - 83.9 - 50.0 - 50.0 - 50.0 - 50.0 - 40.0 - 37.5 - 37.5 - 37.5 - 37.5

VOLUME WEEK (000s) CLOSE CHANGE

Franco-Nevada Kirkland Lake Agnico Eagle Endeavour Mng Seabridge Gld SSR Mining MAG Silver Centerra Gold Aura Minerals Wheaton Prec M Nexa Resources Pan Am Silver Caledonia Mng Largo Res Teck Res Gran Colombia Altius Mnrls Suncor Energy Lithium Amer Lundin Mng

FNV KL AEM EDV SEA SSRM MAG CG ORA WPM NEXA PAAS CAL LGO TECK.B GCM ALS SU LAC LUN

1677 96.35 2845 38.66 2768 54.64 1024 21.92 300 17.73 1115 16.61 736 11.04 2452 6.83 11 20.01 2879 25.89 16 12.26 1616 18.25 35 7.57 3920 2.72 6382 30.34 409 3.28 323 11.10 13813 42.35 388 4.18 13824 5.85

+ 4.87 + 3.72 + 2.90 + 1.87 + 1.23 + 1.19 + 1.17 + 0.71 + 0.66 + 0.64 - 1.34 - 0.56 - 0.39 - 0.35 - 0.29 - 0.25 - 0.21 - 0.14 - 0.13 - 0.11

U.S. MARKETS / JANUARY 21–25 The spot gold price rose 1.66% to US$1,302.60 per ounce. The Philadelphia Gold and Silver Index rose 4% to 71.17, and the Dow Jones Industrial Average rose 0.12% to 24,737.20.

The S&P 500 Index fell 0.22% to 2,664.76.

Shares of Yamana Gold rose 11.3% to US$2.57. The company produced 940,600 oz. gold in 2018, exceeding its guidance by 20,600 oz. gold. It produced 270,200 oz. gold in the fourth quarter of 2018 alone. The company also exceeded its copper and silver production guidance, producing 8.02 million oz. silver and 129 million lb. copper, above an expected 7.55 million oz. silver and 125 million lb. copper.

The Canadian Malartic gold mine produced 348,600 oz. gold in 2018 attributable to Yamana — more than double the company’s next highest gold-producing asset. The company’s silver mines, El Penon and Cerro Moro, both produced 4 million oz. silver. The company has not yet announced its full financial results, but says costs came in line with guidance, or better.

Shares of Iamgold rose 9.2% to US$3.09.

The company produced 882,000 oz. gold, including 231,000 oz. gold in 2018’s fourth quarter. The company has not yet announced its 2018 financials, but expects total cash

18_FEB4_MarketNews.indd 18

costs and all-in sustaining costs will come in at the upper end of its 2018 guidance, near US$800 per oz. gold produced and US$1,070 per oz. gold sold.

The company expects lower production in 2019, between 810,000 oz. gold and 870,000 oz. gold, with US$765 to US$815 per oz. gold cash costs and US$1,030 to US$1,080 per oz. gold all-in sustaining costs. It says both cash costs and all-in sustaining costs should trend downward in the second half of the year.

The company will announce its 2018 fullyear financials in February, but stated it is shelving construction of its Côté gold mine U.S. MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Vale* VALE 254888 15.45 12.85 13.66 - 0.95 Freeport McMoR* FCX 185857 12.65 10.60 11.24 - 1.32 Barrick Gold * GOLD 63674 12.29 11.52 12.25 + 0.46 Goldcorp* GG 59671 10.83 10.20 10.80 + 0.43 Yamana Gold* AUY 53617 2.59 2.29 2.57 + 0.26 Kinross Gold* KGC 52834 3.29 3.08 3.23 + 0.13 United States S* X 45050 21.74 20.31 21.64 + 0.14 Cleveland-Clif* CLF 42465 9.76 8.56 9.61 + 0.60 Newmont Mng* NEM 41679 33.20 31.32 33.16 + 1.39 Chevron Corp* CVX 37003 114.78 110.42 113.22 - 1.15

in Ontario, citing a weak market.

Shares of Freeport-McMoRan fell 10.5% to US$11.24. The company produced less copper and gold, albeit more molybdenum, in the fourth quarter of 2018 than it did in the same quarter of the previous year. However,

Freeport produced more copper and gold overall in 2018 than it did in 2017. It produced 3.8 billion lb. copper in 2018 compared to 3.7 billion lb. copper in 2017 and 2.4 million oz. gold in 2018 compared to 1.5 million oz. gold in 2017. TNM

U.S. GREATEST PERCENTAGE CHANGE

Cloud Peak En* CLD AUY Yamana Gold* Kirkland Lake* KL IAMGOLD* IAG AngloGold Ash* AU Seabridge Gld* SA Fortuna Silvr* FSM First Majestic* AG Pretium Res* PVG Cleveland-Clif* CLF Freeport McMoR* FCX Nexa Resources* NEXA Vale* VALE NACCO Ind* NC Lithium Amer* LAC MartinMarietta* MLM Intrepid Pots* IPI Natural Res Pt* NRP Vedanta* VEDL CONSOL Energy* CNX

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

20259 0.42 0.33 0.41 + 17.4 53617 2.59 2.29 2.57 + 11.3 5033 29.24 26.28 29.23 + 11.0 30174 3.10 2.80 3.09 + 9.2 14947 13.20 11.95 13.11 + 8.6 1753 13.54 12.27 13.42 + 8.2 4441 3.64 3.32 3.60 + 7.8 16968 5.63 5.06 5.55 + 7.8 9133 7.38 6.65 7.29 + 7.2 42465 9.76 8.56 9.61 + 6.7 185857 12.65 10.60 11.24 - 10.5 682 10.68 9.08 9.41 - 7.7 254888 15.45 12.85 13.66 - 6.5 64 37.69 35.00 35.80 - 3.8 518 3.40 3.00 3.15 - 3.1 3413 183.44 171.84 175.70 - 2.6 1741 3.25 3.03 3.11 - 2.5 57 38.00 36.63 36.91 - 2.1 3061 11.37 10.62 11.07 - 2.0 8975 13.45 12.59 13.19 - 1.9

U.S. GREATEST VALUE CHANGE

Franco-Nevada* FNV Kirkland Lake* KL Agnico Eagle* AEM Newmont Mng* NEM AngloGold Ash* AU Seabridge Gld* SA Peabody Enrgy* BTU Rio Tinto* RIO CONSOL Energy* CEIX Cleveland-Clif* CLF MartinMarietta* MLM NACCO Ind* NC Freeport McMoR* FCX Black Hills* BKH Chevron Corp* CVX Vale* VALE Natural Res Pt* NRP Nexa Resources* NEXA Mosaic* MOS AA Alcoa*

VOLUME WEEK (000s) CLOSE CHANGE

2183 72.81 5033 29.23 5620 41.30 41679 33.16 14947 13.11 1753 13.42 3600 35.44 15434 52.26 987 34.70 42465 9.61 3413 175.70 64 35.80 185857 11.24 1667 64.50 37003 113.22 254888 13.66 57 36.91 682 9.41 17386 31.89 25586 29.02

+ 3.91 + 2.89 + 2.31 + 1.39 + 1.04 + 1.02 + 0.76 + 0.62 + 0.61 + 0.60 - 4.77 - 1.41 - 1.32 - 1.15 - 1.15 - 0.95 - 0.81 - 0.78 - 0.31 - 0.25

2019-01-29 9:45 PM

GLOBAL MINING NEWS · SINCE 1915

THE NORTHERN MINER / FEBRUARY 4–17, 2019

19

M E TA L S , M I N I N G A N D M O N EY M A R K E T S Tuesday, January 29, 2019 Precious Metals Price (US$/oz.)

Change $1301.00 +22.30 Gold Silver $15.69 +0.43 Platinum $811.00 +13.00 Palladium $1349.00 -36.00 Base Metals Nickel Copper Lead Zinc

TSX WARRANTS

PRODUCER AND DEALER PRICES

SPOT PRICES COURTESY OF SCOTIABANK

Price (US$/tonne) Change $12190.00 +365.00 $6055.50.00 +53.50 $2088.00 +10.00 $2656.50 -23.50

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, January 25, 2019 (change from January 18, 2019 in brackets): Aluminium Alloy 9760 (-380) 1301100 (-2375) Aluminium Copper 146275 (+11175) 82975 (-10050) Lead Nickel 202776 (+1548) 2020 (+870) Tin 116400 (-5250) Zinc

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

Copper: US$2.76/lb.

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

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

Lead: US$0.87/lb.

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

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

Molybdenum Oxide: US$11.79/lb.

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

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

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

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

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

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

Prices current Dec. 18, 2018

NORTH AMERICAN STOCK EXCHANGE INDICES

52-week

Index Jan 25 Jan 24 Jan 23 Jan 22 Jan 21 High Low S&P/TSX Composite 15366.05 15280.78 15208.33 15233.76 15354.16 15527.30 12400.15 S&P/TSXV Composite 604.56 593.38 592.70 593.08 598.08 1050.26 883.52 S&P/TSX 60 919.80 916.29 912.36 914.16 921.65 896.74 709.99 S&P/TSX Global Gold 181.21 176.91 175.96 175.41 173.35 218.90 149.29 DJ Precious Metals 146.95 146.95 146.16 145.96 144.76 420.72 130.95

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of Jan 15, 2019 (with changes from Dec 31, 2018) Largest short positions 24428 12/31/2018 Sandstorm Gold SSL 16379793 K 14113037 -3972609 12/31/2018 Kinross Gold ABX 12757710 -3992662 12/31/2018 Barrick Gold IVN 12410050 -2377123 12/31/2018 Ivanhoe Mines SU 12163590 935693 12/31/2018 Suncor Energy Goldcorp G 11486936 -143054 12/31/2018 TRQ 11235103 1793528 12/31/2018 Turquoise HIl New Gold NGD 9595424 2166121 12/31/2018 Nemaska Lith NMX 8868942 -1342 12/31/2018 First Quantum FM 8652210 653039 12/31/2018 OGC 7825151 1165490 12/31/2018 OceanaGold Copper Mtn Mng CMMC 7767038 183160 12/31/2018 Osisko Mng Inc OSK 7396399 -442145 12/31/2018 First Majestic FR 7043994 -492621 12/31/2018 NXE 6884751 -322066 12/31/2018 Nexgen Energy Largest increase in short position Royal Nickel RNX 5344733 3299799 12/31/2018 New Gold NGD 9595424 2166121 12/31/2018 TRQ 11235103 1793528 12/31/2018 Turquoise HIl OGC 7825151 1165490 12/31/2018 OceanaGold MUX 6117980 1153857 12/31/2018 McEwen Mng Largest decrease in short position ABX 12757710 -3992662 12/31/2018 Barrick Gold Kinross Gold K 14113037 -3972609 12/31/2018 IVN 12410050 -2377123 12/31/2018 Ivanhoe Mines Nevsun Res NSU 795429 -1436134 12/31/2018 HBM 2151463 -817070 12/31/2018 HudBay Min

Short positions outstanding as of Jan 15, 2019 (with changes from Dec 31, 2018) Largest short positions VO 3356481 2987811 12/31/2018 ValOre Metals First Cobalt FCC 1905254 -247447 12/31/2018 Leeta Gold HIVE 1250523 -153028 12/31/2018 AGB 1024199 14542 12/31/2018 Atlantic Gold ML Gold Corp MLG 819391 660391 12/31/2018 Hawkeye Gld&Di HAWK 811600 811557 12/31/2018 BonTerra Res BTR 802666 -13774 12/31/2018 Equinox Gold EQX 768236 300368 12/31/2018 Amarillo Gold AGC 732229 -7321 12/31/2018 GRAT 693741 -389560 12/31/2018 Gratomic Cobalt 27 Cap KBLT 687491 -53370 12/31/2018 Gldn Predator GPY 632858 -146116 12/31/2018 Ximen Mng XIM 481978 443763 12/31/2018 SIE 379000 357000 12/31/2018 Sienna Res Lithoquest Dia LDI 359200 322200 12/31/2018 Largest increase in short position VO 3356481 2987811 12/31/2018 ValOre Metals Hawkeye Gld&Di HAWK 811600 811557 12/31/2018 ML Gold Corp MLG 819391 660391 12/31/2018 XIM 481978 443763 12/31/2018 Ximen Mng Sienna Res SIE 379000 357000 12/31/2018 Largest decrease in short position Resource Cap RCG 422 -1576478 12/31/2018 FMS 98686 -589364 12/31/2018 Focus Graphite Aben Resources ABN 120214 -463562 12/31/2018 KGL 176 -449824 12/31/2018 Kilo Goldmines Gratomic GRAT 693741 -389560 12/31/2018

DAILY METAL PRICES Daily Metal Prices Jan 28 Jan 25 Jan 24 Jan 23 Jan 22 Date BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) Al Alloy 1430/1460 1445/1470 1440/1460 1420/1480 1465/1485 1865/1885 1850/1870 1877/1890 1867/1867.50 Aluminum 1859.50/1884 Copper 5995.50/6025 5900/5925 5884/5921 5920/5955 5926/5961 Lead 2107/2113 2084/2088 2026/2031 2011/2020 2002/2011 Nickel 11835/11895 11710/11780 11535/11625 11610/11675 20850/20650 Tin 20755/20635 20740/20575 21050/20900 20775/20610 2600/2586 2698.50/2685 2635/2641 2605.50/2610 2607/2606 1415/1445 Zinc PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.)

Gold AM 1301.00 1282.95 1279.75 1284.90 1284.75 Gold PM 1302.15 1293.90 1283.70 1279.80 1282.10 Silver 15.69 15.38 15.30 15.39 15.26 Platinum 811.00 812.00 795.00 790.00 793.00 Palladium 1342.00 1331.00 1316.00 1348.00 1337.00

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 JANUARY 21–25, 2019 39 New Highs Abitibi Royal Alacer Gold Amex Expl Amex Expl* Amilot Capital Appia Energy Aura Minerals Aura Minerals * Brigadier Gold* Canadian Prem* Canstar Res* CMC Metals* Discovery Mnls* Doubleview Cap Etruscus Res Goldsource Min Goldsource Min*

Kirkland Lake Kirkland Lake* Lions Bay Mg Magellan Gold* New Pac Metals New Pac Metals* Pelangio Expl Pelangio Expl* Pure Gold Mg Pure Gold Mg* Purepoint Uran RosCan Gold SilverCrest SilverCrest* Slave Lake Zn Spruce Ridge R Tearlach Res Unity Metals

Victoria Gold Western Troy C Worldwide Res* Ximen Mng

45 New Lows ATAC Res* Azincourt Ener Azucar Min Barrick Gold * BCM Res* Black Iron* Canada Coal* Candente Gold* CellCube Enrgy CellCaube Enrgy* Central Tim Ex China Gold Int Cleghorn Mnls

Contintl Gold Contintl Gold* Cruz Cobalt First Cobalt First Cobalt * First Point* Getchell Gold Gold Finder Ex Goldstrike Res GoviEx Uranium* HiHo Silver* Kenadyr Mining McEwen Mng McEwen Mng* Midnight Star Montego Res* Mountain Prov Mountain Prov*

Nexa Resources* NuLegacy Gold* Orla Mng Ltd Ridgestone M’g* Roxgold Superior Gold Taku Gold* Trevali Mng Trevali Mng* Vendetta Mng Vendetta Mng* Western Troy C* Westkam Gold* ZincX Res

CANADIAN GOLD MUTUAL FUNDS Fund Jan 25 ($) AGF Prec Mtls Fd MF 18.41 17.68 BMO Prec Mtls Fd A BMO ZGD 8.47 BMO ZJG 7.29 CIBC Prec Metal Fd A 9.15 Dyn Prec Metls Fd A 6.51 Galileo GOGO 9.95 Harvest HGGG 19.93 Horizons HEP 23.15 IG Mac GbPMetCl A 8.22 iShares XGD 11.36 Mac Prec Met Cl A 42.90 NBI PrecMetFd Invt 11.57 NPT Gold&PrMinFdA 31.66 NPT SilverEquCl A 4.66 RBC GblPreMetFd A 31.11 Sentry Pre Met Fd A TD Prec Mtl Fd Inv 30.32

Jan 18 ($) 17.64 16.95 8.01 6.87 8.71 6.45 9.55 19.27 22.15 7.94 10.80 41.43 10.87 30.77 4.41 29.56 31.91 28.82

Change ($) Change (%) YTDChange (%) MER (%) TotalAssets (M$) 0.76 4.31 -12.13 2.80 92.31 0.73 4.32 -1.52 2.40 57.77 0.47 5.81 -10.67 0.61 0.42 6.14 -18.62 0.60 0.44 5.05 -8.74 2.45 41.24 0.06 0.93 -6.42 2.71 319.51 0.40 4.16 -3.24 0.66 3.44 1.01 4.54 -0.14 0.28 3.52 -7.74 2.75 30.07 0.56 5.20 -4.06 0.55 801.80 1.46 3.54 -8.09 2.52 55.71 0.70 6.44 -8.13 2.46 26.08 0.89 2.89 -11.14 3.04 0.25 5.59 -18.06 2.95 1.55 5.25 -7.08 2.13 294.14 -0.30 -0.93 -14.78 2.46 233.63 1.50 5.20 -8.94 2.27 102.93

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

Jan 25 Jan 24 Jan 23 Jan 22 Jan 21 1.3219 1.3351 1.3342 1.3358 1.3298 0.7565 0.7490 0.7495 0.7486 0.7520

Exchange rates (Quote Media, January 25, 2019) C$ to EURO C$ to YEN C$ to Mex Peso C$ to SA Rand C$ to AUS 1.0563 0.6621 82.0935 14.2523 10.2745 C$ to India Rupee C$ to Swiss Franc C$ to S. Korea Won C$ to UK Pound C$ to China Yuan 0.5709 5.0838 53.1810 0.7457 844.4284 US to AUS US to EURO US to YEN US to Mex Peso US to SA Rand 1.4102 0.8840 109.6000 19.0275 13.7138 US to UK Pound US to China Yuan US to India Rupee US to Swiss Franc US to S. Korea Won 0.7622 6.7886 71.0000 0.9956 1127.7700

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

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

19_FEB4_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

2019-01-29 7:54 PM

20

WWW.NORTHERNMINER.COM

FEBRUARY 4–17, 2019 / THE NORTHERN MINER

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: JANUARY 21–25, 2019 (100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

A 37 Capital 8 66 Resources 140 92 Resources V 514 92 Resources* O 5 O 77 Abacus Mining* Abacus Mining V 44 V 194 Abcourt Mines O 64 Abcourt Mines* Aben Resources* O 313 V 1009 Aben Resources Aberdeen Intl* O 29 Aberdeen Intl T 714 Abitibi Mng* O 9 Abitibi Royal* O 1 Abitibi Royal V 16 AbraPlata Res* O 54 V 244 AbraPlata Res Acacia Mining* O 1 Adamera Min V 1164 Adamera Min* O 515 Adex Mining V 175 Advance Gold V 87 V 388 Advantage Lith Advantage Lith* O 244 Adventus V 115 Adventus* O 40 V 163 Aethon Mineral AEX Gold V 38 African Gold* O 10 African Gold V 1023 African Min* O 508 Aftermath Silv V 230 O 0 Aftermath Silv* Agnico Eagle* N 5620 Agnico Eagle T 2768 AgriMinco* O 216 V 4 Aguia Resource Aguila Amer Gd V 10 AJN Resources 101 Alacer Gold T 3105 Alamos Gold T 3619 Alamos Gold* N 11661 Alaska Pac Egy* O 750 Albert Mining V 132 N 25586 Alcoa* V 44 Aldebaran Res Alderon Iron* O 39 Alderon Iron T 503 Aldever Res* O 0 Aldever Res V 12 Alexandria Min V 1020 O 401 Alexandria Min* Alexco Res* X 1132 Alexco Res T 341 Algold Res V 197 Algold Res* O 54 Alianza Min V 1164 Alianza Min* O 4 Alien Metals* O 4820 Alio Gold T 591 Alio Gold* X 1054 Allante Res V 179 Allegiant Gold V 370 O 248 Allegiant Gold* Alliance Mng V 100 Alliance Res* D 2050 Almaden Min T 140 Almaden Min* X 946 Almadex Min* O 216 Almadex Min V 168 Almonty Ind * O 22 Almonty Ind T 102 Aloro Mining* O 4 Aloro Mining V 182 25 Alphamin Res * O Alphamin Res V 83 ALQ Gold 2062 Altai Resource V 397 Altair Res Inc V 1152 Altamira Gold V 523 O 80 Altamira Gold* Altan Nevada V 279 152 Altan Rio Min V Altiplano Met V 1 96 Altius Mnrls * O Altius Mnrls T 323 Alto Ventures V 134 Altura Mining* O 177 Alturas Min V 423 Altus Strat V 1612 Alumina Ltd* O 50 ALX Uranium* O 178 ALX Uranium V 285 AM Resources V 5 Amador Gold V 612 Amarc Res V 325 Amarc Res* O 241 Amarillo Gold V 389 O 133 Amarillo Gold* Amazing Energy* O 162 Amer Intl Vent* O 404 American Creek* O 10 V 155 American Creek American CuMo* O 34 O 1093 American Lith* American Lith V 587 O 323 American Mang* American Mang V 375 American Pac 3796 American Pac* O 352 O 4 AmericanSierra* Americas Silvr* X 809 T 301 Americas Silvr Amerigo Res T 219 Amerigo Res* O 208 Amex Expl* O 134 Amex Expl V 5311 Amilot Capital V 341 Amseco Expl V 124 Anaconda Mng T 224 O 105 Anaconda Mng* Anconia Res V 774 Andes Gold* O 40 Anfield Energy* O 155 V 128 Anfield Energy Angel Gold* O 112 Angel Gold V 82 Angkor Gold V 234 Angkor Gold* O 243 Anglo American* O 36 O 285 Anglo American* Anglo Pac Grp T 1 0 AngloGold Ash* O AngloGold Ash* N 14947 V 247 Antioquia Gold Antioquia Gold* O 15 Antler Gold V 42 Antofagasta* O 6 O 5 Apex Res * Apex Res V 107 Appia Energy 357 Appia Energy* O 166 Applied Min* O 282 Aquila Res* O 196 Aquila Res T 74 Arch Coal* N 887 Arctic Star* O 40 Arctic Star V 561 O 0 Arcturus Vent* Arcturus Vent V 0 102 Arcus Dev Grp V Arena Min V 562 Arena Min* O 49 Argentina Lith* O 1 Argentina Lith V 100 Argentum Silvr V 711 T 2525 Argex Titanium Argex Titanium* O 411 Argo Gold* O 64 Argo Gold 294 O 389 Argonaut Gold* Argonaut Gold T 1962 V 168 Arianne Phosph Arianne Phosph* O 99 O 315 Arizona Silver* Arizona Silver V 230 Armor Min V 4

20-23_FEB4_StockTables.indd 20

0.29 0.25 0.25 - 0.05 0.30 0.10 0.14 0.11 0.11 - 0.03 0.27 0.10 0.03 0.03 0.03 unch 0.00 0.14 0.03 0.03 0.03 0.03 unch 0.00 0.10 0.02 0.08 0.06 0.07 - 0.00 0.29 0.05 0.10 0.00 0.09 + 0.01 0.38 0.07 0.07 0.06 0.07 unch 0.00 0.08 0.04 0.05 0.04 0.05 - 0.00 0.06 0.03 0.12 0.10 0.11 - 0.00 0.38 0.08 0.15 0.14 0.15 unch 0.00 0.49 0.11 0.05 0.04 0.04 + 0.01 0.15 0.03 0.06 0.05 0.06 + 0.01 0.21 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 8.10 0.00 8.10 + 0.56 8.14 5.89 10.85 10.00 10.68 + 0.53 10.46 7.98 0.05 0.04 0.05 - 0.00 0.23 0.03 0.06 0.00 0.06 unch 0.00 0.28 0.04 2.30 2.30 2.30 unch 0.00 2.77 1.43 0.04 0.03 0.03 unch 0.00 0.20 0.03 0.03 0.02 0.03 + 0.00 0.17 0.02 0.01 0.01 0.01 + 0.01 0.04 0.01 0.08 0.07 0.07 unch 0.00 0.60 0.06 0.60 0.50 0.54 - 0.06 1.34 0.41 0.46 0.38 0.38 - 0.07 1.12 0.29 0.83 0.00 0.79 + 0.04 1.16 0.51 0.59 0.55 0.59 + 0.04 0.90 0.48 0.16 0.13 0.15 - 0.01 0.85 0.11 0.32 0.29 0.29 - 0.03 0.53 0.29 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.10 0.08 0.09 - 0.01 0.20 0.05 0.00 0.00 0.05 unch 0.00 0.14 0.05 41.34 38.72 41.30 + 2.31 49.80 32.18 54.73 51.45 54.64 + 2.90 62.80 42.35 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.14 0.14 0.14 unch 0.00 0.43 0.10 0.27 0.00 0.27 + 0.08 0.28 0.17 0.10 0.08 0.08 - 0.02 0.20 0.08 3.21 2.55 3.20 + 0.56 3.05 1.97 5.54 4.99 5.33 + 0.24 7.97 3.88 4.18 3.74 4.03 + 0.20 6.45 2.90 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.04 0.03 0.04 + 0.01 0.10 0.02 30.10 27.53 29.02 - 0.25 62.35 25.01 0.60 0.50 0.59 + 0.06 0.90 0.41 0.23 0.19 0.22 + 0.03 0.29 0.15 0.32 0.27 0.30 + 0.04 0.38 0.22 0.00 0.00 0.02 unch 0.00 0.08 0.02 0.04 0.00 0.04 unch 0.00 0.11 0.03 0.03 0.03 0.03 unch 0.00 0.12 0.02 0.03 0.02 0.03 + 0.00 0.09 0.01 0.97 0.86 0.95 + 0.01 1.75 0.68 1.34 1.14 1.25 + 0.01 2.14 0.92 0.31 0.25 0.26 - 0.03 1.90 0.25 0.21 0.00 0.19 - 0.16 0.59 0.19 0.08 0.07 0.08 + 0.01 0.15 0.06 0.04 0.04 0.04 unch 0.00 0.10 0.04 0.00 0.00 0.00 unch 0.00 0.01 0.00 1.06 0.96 1.05 + 0.03 4.50 0.81 0.82 0.74 0.80 + 0.03 3.65 0.63 0.20 0.13 0.13 unch 0.00 0.20 0.06 0.21 0.19 0.20 - 0.01 0.75 0.16 0.18 0.14 0.16 + 0.01 0.58 0.00 0.02 0.02 0.02 unch 0.00 0.05 0.01 19.34 18.27 18.79 + 0.34 21.90 15.55 1.03 0.94 0.99 unch 0.00 1.20 0.63 0.80 0.71 0.76 + 0.01 0.98 0.48 0.25 0.20 0.25 + 0.04 0.45 0.14 0.33 0.28 0.31 + 0.02 0.51 0.25 0.49 0.48 0.49 + 0.01 0.73 0.29 0.68 0.63 0.65 unch 0.00 0.98 0.35 0.13 0.13 0.13 unch 0.00 0.14 0.06 0.15 0.14 0.15 + 0.01 0.20 0.07 0.22 0.21 0.21 - 0.00 0.27 0.16 0.28 0.26 0.26 - 0.01 0.33 0.22 4.04 2.48 3.28 + 0.18 4.04 2.48 0.11 0.09 0.10 + 0.01 0.47 0.07 0.06 0.05 0.05 - 0.01 0.34 0.04 0.12 0.09 0.11 + 0.02 0.33 0.05 0.09 0.06 0.08 + 0.01 0.26 0.04 0.02 0.01 0.01 - 0.01 0.05 0.01 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.00 0.00 0.19 unch 0.00 0.54 0.09 8.90 8.15 8.43 - 0.10 11.70 7.31 11.48 11.00 11.10 - 0.21 14.80 10.04 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.12 0.12 0.12 - 0.01 0.38 0.10 0.01 0.01 0.01 unch 0.00 0.06 0.01 0.06 0.06 0.06 unch 0.00 0.15 0.04 7.00 6.61 6.84 - 0.16 8.97 6.09 0.06 0.06 0.06 + 0.01 0.07 0.04 0.08 0.00 0.07 - 0.01 0.09 0.05 0.18 0.18 0.18 - 0.01 0.31 0.12 0.68 0.49 0.52 - 0.08 1.10 0.46 0.05 0.05 0.05 - 0.01 0.16 0.04 0.04 0.03 0.03 - 0.01 0.12 0.03 0.30 0.27 0.28 - 0.03 0.32 0.19 0.22 0.00 0.20 - 0.01 0.26 0.15 0.25 0.20 0.24 - 0.00 0.94 0.00 0.01 0.01 0.01 + 0.00 0.03 0.00 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.09 0.00 0.06 - 0.03 0.10 0.02 0.30 0.25 0.30 + 0.01 0.69 0.18 0.40 0.33 0.39 - 0.01 0.74 0.22 0.12 0.10 0.12 + 0.01 0.25 0.10 0.15 0.14 0.15 + 0.01 0.30 0.13 0.13 0.09 0.12 + 0.02 0.41 0.04 0.10 0.07 0.09 + 0.02 0.32 0.03 0.02 0.00 0.01 + 0.00 0.04 0.01 1.70 1.50 1.64 - 0.04 4.65 1.24 2.24 2.00 2.18 - 0.01 5.74 1.66 1.00 0.91 0.95 - 0.05 1.19 0.67 0.76 0.68 0.71 - 0.04 0.96 0.51 0.47 0.21 0.38 + 0.16 0.47 0.04 0.60 0.26 0.52 + 0.22 0.60 0.06 0.10 0.01 0.08 + 0.03 0.20 0.05 0.06 0.00 0.06 - 0.01 0.29 0.01 0.26 0.24 0.26 + 0.01 0.52 0.18 0.20 0.17 0.20 + 0.02 0.42 0.14 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.01 0.00 0.01 + 0.00 0.01 0.00 0.19 0.15 0.16 - 0.03 0.45 0.12 0.23 0.21 0.22 - 0.01 0.59 0.18 0.03 0.02 0.03 - 0.01 0.08 0.01 0.04 0.03 0.03 - 0.01 0.10 0.02 0.17 0.14 0.14 - 0.01 0.21 0.11 0.12 0.12 0.12 + 0.00 0.32 0.09 24.52 0.00 24.52 + 1.75 26.05 19.09 12.37 11.55 12.29 + 0.55 13.13 9.37 2.60 0.00 2.60 + 0.48 4.75 1.60 0.00 0.00 12.04 unch 0.00 12.04 7.38 13.20 11.95 13.11 + 1.04 13.27 7.08 0.03 0.02 0.02 unch 0.00 0.10 0.02 0.02 0.02 0.02 + 0.01 0.05 0.01 0.09 0.07 0.09 + 0.02 0.20 0.05 11.15 0.00 10.85 - 0.09 15.70 9.27 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.06 0.06 0.06 - 0.01 0.13 0.04 0.33 0.24 0.33 + 0.03 0.32 0.11 0.25 0.21 0.24 + 0.03 0.26 0.08 0.05 0.03 0.04 - 0.00 0.25 0.03 0.17 0.15 0.15 - 0.01 0.30 0.10 0.22 0.20 0.21 - 0.01 0.39 0.13 87.41 84.91 86.97 + 0.54 102.61 75.09 0.04 0.04 0.04 unch 0.00 0.20 0.03 0.06 0.05 0.05 unch 0.00 0.26 0.05 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 0.05 0.04 0.05 + 0.01 0.07 0.03 0.05 0.05 0.05 unch 0.00 0.11 0.05 0.04 0.03 0.03 - 0.01 0.08 0.03 0.11 0.00 0.11 - 0.06 0.38 0.03 0.18 0.15 0.15 - 0.03 1.88 0.09 0.16 0.00 0.12 - 0.03 0.33 0.10 0.06 0.05 0.05 - 0.01 0.06 0.03 0.05 0.04 0.04 unch 0.00 0.05 0.01 0.15 0.12 0.15 + 0.02 0.16 0.08 0.20 0.15 0.20 + 0.02 0.21 0.07 1.24 1.04 1.24 + 0.18 2.33 0.85 1.63 1.36 1.63 + 0.24 2.86 1.18 0.45 0.40 0.43 - 0.02 0.70 0.39 0.36 0.30 0.33 - 0.01 0.56 0.30 0.10 0.08 0.09 + 0.02 0.16 0.04 0.13 0.10 0.13 + 0.03 0.20 0.06 0.43 0.00 0.43 unch 0.00 0.73 0.30

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Asanko Gold T 192 Asanko Gold* X 777 Asante Gold 220 Ascendant Res T 121 Ascendant Res* O 44 Ascot Res V 239 Ascot Res * O 29 Ashanti Gold V 825 Ashanti Sanko V 126 AsiaBaseMetals V 50 Aston Bay V 3237 Aston Bay* O 100 Astorius Res V 15 Astur Gold V 40 ATAC Res V 350 ATAC Res* O 81 Atacama Res* O 324231 Atalaya Mining T 8 V 157 Athabasca Min Athabasca Min* O 160 Athena Silver* O 132 Atico Mining* O 129 Atico Mining V 247 Atlanta Gold* O 80 Atlanta Gold V 2 Atlantic Gold* O 335 Atlantic Gold V 1386 Atlantic Indus V 100 Atlas Cons Mng* O 1 Atlatsa Res T 182 Atlatsa Res* O 204 Atom Energy * O 0 Aton Resources* O 8 Aton Resources V 353 Aura Minerals * O 1 Aura Minerals T 11 V 212 Aura Resources Aura Resources* O 36 Auramex Res V 22 Aurania Res* O 12 Aurania Res V 18 Aurcana Corp V 270 O 38 Aurcana Corp* AurCrest Gold V 1935 Aurelius Min V 563 Aurion Res * O 49 Aurion Res V 187 Aurora Royal V 144 Aurum Inc* O 10 AURYN Mining* O 5 T 733 Auryn Resource Auryn Resource* X 432 Aust Mines* O 91 Austin Res V 105 Austral Gold* O 10 Austral Gold V 93 Auxico Res 545 Avalon Advance T 388 O 344 Avalon Advance* Avarone Metals 696 Avesoro Res T 2 Avidian Gold V 719 Avino Silver* X 1024 Avino Silver T 444 Avrupa Min V 324 Avrupa Min* O 125 Awale Res V 20 O 97 Axiom Mining* Axmin Inc V 271 Axmin Inc* O 12 Azarga Metals V 23 O 0 Azarga Metals* Azarga Uranium T 575 Azarga Uranium* O 183 Azimut Explor V 114 O 33 Azimut Explor* Azincourt Ener V 1005 Azincourt Ener* O 27 Aztec Minerals V 10 O 4 Aztec Minerals* Azteca Gold* O 5 Azucar Min V 269

0.92 0.88 0.89 - 0.01 1.79 0.80 0.70 0.65 0.69 + 0.00 1.38 0.56 0.06 0.05 0.06 + 0.01 0.08 0.03 0.47 0.43 0.43 - 0.04 1.23 0.35 0.39 0.31 0.31 - 0.08 0.96 0.28 1.08 0.97 1.07 + 0.08 1.65 0.76 0.80 0.00 0.76 + 0.01 1.24 0.59 0.05 0.04 0.04 - 0.01 0.25 0.04 0.04 0.03 0.04 + 0.01 0.10 0.02 0.30 0.23 0.25 - 0.05 0.40 0.15 0.07 0.05 0.06 - 0.01 0.29 0.05 0.05 0.05 0.05 unch 0.00 0.20 0.03 0.04 0.04 0.04 unch 0.00 0.15 0.03 0.19 0.19 0.19 unch 0.00 0.31 0.19 0.27 0.25 0.27 - 0.01 0.63 0.21 0.21 0.00 0.19 - 0.00 0.51 0.15 0.00 0.00 0.00 - 0.00 0.00 0.00 4.03 3.90 4.03 + 0.03 5.10 2.88 0.28 0.26 0.27 - 0.02 0.35 0.12 0.21 0.19 0.19 - 0.02 0.27 0.09 0.02 0.02 0.02 unch 0.00 0.30 0.02 0.27 0.24 0.27 - 0.01 0.62 0.17 0.35 0.32 0.32 - 0.02 0.76 0.23 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.00 0.00 0.04 unch 0.00 0.07 0.04 1.32 1.16 1.31 + 0.13 1.57 1.07 1.75 1.55 1.73 + 0.17 1.99 1.40 0.01 0.01 0.01 unch 0.00 0.09 0.01 1.09 1.09 1.09 unch 0.00 1.21 0.90 0.09 0.00 0.09 + 0.01 0.09 0.03 0.07 0.06 0.07 unch 0.00 0.07 0.02 0.00 0.00 0.03 unch 0.00 0.34 0.00 0.05 0.04 0.04 - 0.01 0.08 0.02 0.06 0.05 0.05 unch 0.00 0.11 0.02 15.08 0.00 15.08 + 0.48 14.70 1.00 20.07 0.00 20.01 + 0.66 29.90 14.60 0.05 0.04 0.04 unch 0.00 0.20 0.03 0.03 0.02 0.03 + 0.00 0.04 0.01 0.05 0.05 0.05 - 0.01 0.10 0.03 2.60 2.38 2.46 - 0.04 3.81 1.03 3.38 3.19 3.20 - 0.16 4.70 1.93 0.45 0.35 0.40 - 0.06 1.38 0.35 0.37 0.11 0.28 - 0.08 0.52 0.00 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.04 0.03 0.04 + 0.01 0.07 0.02 0.70 0.63 0.68 - 0.01 1.63 0.52 0.96 0.85 0.90 - 0.02 2.15 0.67 0.09 0.00 0.08 - 0.01 0.24 0.03 0.05 0.05 0.05 unch 0.00 0.10 0.05 0.59 0.36 0.43 - 0.17 1.95 0.16 1.46 1.25 1.38 + 0.13 2.17 1.14 1.10 0.91 1.04 + 0.11 1.80 0.85 0.05 0.03 0.03 - 0.00 0.33 0.02 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.05 0.04 0.05 + 0.01 0.11 0.01 0.09 0.08 0.09 + 0.01 0.15 0.05 0.19 0.00 0.19 + 0.04 0.43 0.12 0.06 0.05 0.05 - 0.01 0.15 0.05 0.04 0.04 0.04 - 0.00 0.12 0.03 0.06 0.05 0.06 + 0.02 0.14 0.04 2.70 2.58 2.59 - 0.04 5.99 2.30 0.37 0.34 0.34 - 0.03 0.70 0.26 0.65 0.58 0.59 - 0.03 1.61 0.50 0.82 0.75 0.78 - 0.03 1.99 0.65 0.06 0.05 0.06 unch 0.00 0.13 0.04 0.05 0.04 0.04 + 0.00 0.10 0.03 0.06 0.06 0.06 unch 0.00 0.42 0.06 0.00 0.00 0.07 unch 0.00 0.07 0.07 0.19 0.18 0.19 + 0.01 0.30 0.03 0.15 0.15 0.15 unch 0.00 0.23 0.02 0.12 0.11 0.12 + 0.01 0.16 0.10 0.00 0.00 0.08 unch 0.00 0.11 0.05 0.25 0.22 0.24 + 0.01 0.34 0.18 0.19 0.16 0.19 + 0.01 0.24 0.14 0.26 0.24 0.24 - 0.03 0.48 0.22 0.19 0.19 0.19 unch 0.00 0.32 0.17 0.06 0.05 0.06 unch 0.00 0.24 0.05 0.05 0.03 0.04 unch 0.00 0.20 0.03 0.19 0.19 0.19 unch 0.00 0.38 0.14 0.13 0.13 0.13 + 0.00 0.30 0.10 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.36 0.29 0.33 - 0.03 1.75 0.30

B2Gold Corp* X 23539 B2Gold Corp T 22734 Balmoral Res T 325 Balmoral Res* O 159 Bankers Cobalt V 356 O 300 Bankers Cobalt* Bannerman Res* O 530 Banyan Gold V 631 Banyan Gold* O 65 Bard Ventures V 55 O 7 Bard Ventures* Barker Min V 151 Barker Min* O 3 Barkerville V 925 Barkerville* O 166 Barolo Venture V 46 Baroyeca Gold V 228 Baroyeca Gold* O 2 Barrick Gold * N 63674 Barrick Gold T 15900 Barsele Min* O 9 Barsele Min V 293 Batero Gold V 152 Bayhorse Silvr* O 138 Bayhorse Silvr V 1209 BCM Res V 98 BCM Res* O 2 BE Res V 50 BE Res* O 18 Bear Creek Mng* O 75 Bear Creek Mng V 121 Bearclaw Cap V 162 Bearing Lith* O 37 Bearing Lith V 124 Bell Copper V 480 Bell Copper* O 313 Belmont Res V 320 637 Belo Sun Mng T Belo Sun Mng* O 776 BeMetals V 277 Benchmark Met* O 137 Benchmark Met V 517 Benton Res V 271 Benton Res* O 6 Benz Mining V 101 Berkwood Res * O 12 Berkwood Res V 667 Bird River Res 560 Bitterroot Res* O 82 Bitterroot Res V 48 Black Dragon V 119 Black Dragon* O 1 Black Hills* N 1667 Black Iron T 97 Black Iron* O 7 Black Isle Res* O 1 Black Mammoth V 36 Black Sea V 228 Black Sea * O 102 Black Tusk Res 543 Blackheath Res V 573 Blackrock Gold* O 74 Blackrock Gold V 441 Blind Creek V 46 BLOX Inc* O 0 Blue Moon Zinc* O 923 Blue Moon Zinc V 1608 63 Blue River Res V Blue River Res* O 423 Blue Sky Uran* O 280 Blue Sky Uran V 1306 Blue Star Gold V 197 BlueBird Batt V 881 BlueBird Batt* O 4 Bluenose Gold V 332 Bluestone Res* O 8 V 125 Bluestone Res Bold Ventures V 480 Bonanza Gold* O 291 BonTerra Res V 294 BonTerra Res* O 29 Boreal Metals V 368 Borneo Res Inv* O 32949 Bravada Gold V 308

2.95 2.63 2.90 + 0.24 3.30 2.10 3.91 3.43 3.86 + 0.33 4.03 2.77 0.15 0.14 0.15 + 0.01 0.49 0.12 0.11 0.10 0.10 + 0.00 0.40 0.08 0.04 0.03 0.03 unch 0.00 0.71 0.02 0.03 0.02 0.02 - 0.01 0.55 0.01 0.03 0.03 0.03 + 0.00 0.06 0.03 0.06 0.00 0.05 + 0.01 0.11 0.04 0.05 0.03 0.04 - 0.01 0.08 0.02 0.33 0.00 0.30 - 0.11 1.63 0.18 0.19 0.00 0.19 + 0.03 0.21 0.03 0.01 0.01 0.01 - 0.01 0.02 0.01 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.45 0.42 0.43 + 0.01 0.75 0.30 0.34 0.31 0.32 + 0.01 0.61 0.23 0.25 0.25 0.25 unch 0.00 0.30 0.09 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.01 0.01 0.01 unch 0.00 0.02 0.01 12.29 11.52 12.25 + 0.46 103.62 11.52 16.26 15.37 16.20 + 0.56 18.99 12.54 0.36 0.30 0.36 + 0.06 0.68 0.28 0.50 0.42 0.50 + 0.09 1.03 0.36 0.06 0.06 0.06 unch 0.00 0.10 0.06 0.08 0.07 0.07 - 0.01 0.22 0.06 0.10 0.09 0.10 - 0.01 0.26 0.09 0.14 0.11 0.13 + 0.02 0.26 0.09 0.09 0.09 0.09 unch 0.00 0.19 0.09 0.02 0.02 0.02 unch 0.00 0.07 0.02 0.01 0.01 0.01 unch 0.00 0.05 0.01 1.01 0.87 1.01 + 0.08 2.07 0.71 1.34 1.21 1.34 + 0.12 2.60 0.89 0.04 0.03 0.03 - 0.01 0.06 0.03 0.19 0.17 0.18 + 0.00 0.80 0.02 0.25 0.00 0.23 - 0.02 0.82 0.21 0.10 0.08 0.10 + 0.03 0.17 0.05 0.08 0.05 0.08 + 0.02 0.14 0.03 0.05 0.04 0.04 unch 0.00 0.10 0.03 0.38 0.35 0.38 + 0.01 0.47 0.17 0.29 0.27 0.29 + 0.01 0.39 0.12 0.25 0.23 0.23 - 0.01 0.32 0.15 0.15 0.14 0.14 + 0.01 0.30 0.06 0.21 0.19 0.19 + 0.01 0.39 0.16 0.06 0.05 0.05 unch 0.00 0.09 0.04 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.06 0.00 0.06 + 0.01 0.16 0.05 0.07 0.05 0.05 - 0.02 0.24 0.05 0.08 0.07 0.07 - 0.01 0.30 0.06 0.04 0.04 0.04 - 0.01 0.37 0.03 0.02 0.02 0.02 unch 0.00 0.09 0.01 0.03 0.03 0.03 - 0.01 0.12 0.02 0.09 0.08 0.09 + 0.01 0.39 0.08 0.07 0.07 0.07 unch 0.00 0.14 0.05 66.22 64.27 64.50 - 1.15 68.23 50.49 0.05 0.05 0.05 - 0.01 0.12 0.05 0.04 0.03 0.03 - 0.01 0.09 0.03 0.00 0.00 0.00 unch 0.00 0.03 0.00 0.07 0.05 0.05 - 0.01 0.14 0.05 0.03 0.02 0.03 + 0.01 0.14 0.02 0.03 0.00 0.01 - 0.00 0.12 0.01 0.21 0.14 0.15 - 0.05 0.29 0.13 0.02 0.01 0.01 - 0.01 0.06 0.01 0.04 0.03 0.03 - 0.00 0.12 0.02 0.05 0.04 0.05 + 0.01 0.16 0.04 0.04 0.00 0.04 - 0.01 0.38 0.03 0.00 0.00 0.20 unch 0.00 0.30 0.13 0.05 0.03 0.04 - 0.00 0.11 0.02 0.06 0.05 0.05 - 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 0.09 0.09 - 0.01 0.24 0.10 0.15 0.13 0.13 - 0.01 0.30 0.13 0.04 0.03 0.03 - 0.02 0.05 0.02 0.23 0.20 0.21 - 0.01 0.56 0.16 0.17 0.00 0.17 - 0.01 0.41 0.14 0.15 0.10 0.12 + 0.03 0.33 0.09 0.94 0.93 0.93 unch 0.00 1.35 0.81 1.40 1.25 1.37 + 0.10 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 2.46 2.09 2.42 + 0.12 5.80 2.09 2.11 2.06 2.09 unch 0.00 2.87 0.22 0.12 0.09 0.09 - 0.02 0.36 0.04 0.00 0.00 0.00 + 0.00 0.00 0.00 0.08 0.07 0.08 - 0.01 0.15 0.05

B

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Bravada Gold* O 78 Braveheart Res V 180 Braveheart Res* O 15 Bravo Multinat* O 25 Brazil Min* O 68423 Brigadier Gold* O 9 Brigadier Gold V 144 BrightRock* O 19 Britannia Mng* O 6 Brixton Metals V 43 Brixton Metals* O 59 Broadway Gold V 286 Broadway Gold* O 32 Brookmount Exp* O 4596 Brunswick Res V 365 Bryn Res* O 537 BTU Metals V 641 Buenaventura* N 7779 Bullfrog Gold* O 24 Bullion Gold V 55 Bunker Hill 112 BWR Explor V 527

0.06 0.05 0.06 + 0.01 0.12 0.04 0.10 0.07 0.09 unch 0.00 0.12 0.06 0.07 0.07 0.07 unch 0.00 0.08 0.05 0.60 0.46 0.46 - 0.08 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 0.25 0.12 0.20 + 0.05 0.26 0.05 0.00 0.00 0.00 + 0.00 0.01 0.00 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.17 0.16 0.17 unch 0.00 0.42 0.13 0.14 0.12 0.12 - 0.01 0.34 0.10 0.08 0.07 0.08 + 0.02 0.38 0.06 0.06 0.05 0.06 + 0.01 0.31 0.02 0.01 0.01 0.01 - 0.00 0.03 0.00 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.09 0.06 0.07 + 0.01 0.09 0.00 0.12 0.10 0.11 - 0.01 0.14 0.04 15.61 14.80 15.49 + 0.32 16.83 11.67 0.06 0.05 0.06 unch 0.00 0.15 0.04 0.11 0.09 0.10 unch 0.00 0.47 0.09 0.20 0.00 0.17 + 0.03 3.05 0.03 0.05 0.04 0.05 + 0.01 0.09 0.03

Cabral Gold V 347 Cabral Gold* O 40 Cache Explor V 951 Cadence Min* O 40 Cadillac Vent V 444 Cadillac Vent* O 1 Caledonia Mng* X 51 35 Caledonia Mng T Calibre Mng* O 46 Calibre Mng V 224 California Gld V 72 California Gld* O 62 O 42 Callinex Mines* V 126 Callinex Mines Cameco Corp* N 8561 Cameco Corp T 3572 Cameo Cobalt* O 6 V 2370 Cameo Cobalt Camino Min* O 118 Camino Min V 186 Camrova Res* O 1 V 489 Canada Carbon Canada Carbon* O 15 Canada Coal V 77 Canada Coal* O 0 V 439 Canada Cobalt Canada Cobalt * O 368 Canada One* O 1 Canada One V 59 Canada Rare V 108 Canada Rare* O 22 Canadian Engy* O 1 V 218 Canadian Engy Canadian Metal 308 Canadian Metal* O 20 Canadian Ore* O 3 Canadian Ore V 87 V 35 Canadian Prem Canadian Prem* O 4 CanAlaska Uran V 139 CanAlaska Uran* O 29 O 26 Canamex Gold* Canarc Res T 480 Canarc Res* O 19 Canasil Res V 160 O 0 Candelaria Mg* Candelaria Mg V 14 Candente Coppr T 176 Candente Gold V 680 O 124 Candente Gold* Canex Energy V 25 CANEX Metals V 28 0 CANEX Metals * O CaNickel Mng V 94 CaNickel Mng* O 13 Canstar Res V 87 Canstar Res* O 57 Canterra Mnls V 18 Cantex Mn Dev V 218 Cantex Mn Dev* O 68 Canuc Res V 65 Canuc Res* O 74 Capstone Mng T 978 Caracara Silvr* O 0 Cardero Res V 60 Cardero Res* O 34 Cardinal Res T 117 Cariboo Rose V 23 Carrara Explor 3641 Cartier Iron 32 Cartier Res V 409 Carube Copper V 214 V 68 Casa Minerals Cascadero Copp V 500 Castle Peak Mg V 2429 Cautivo Mining 38 O 1071 CellCube Enrgy* CellCube Enrgy 5338 Centamin T 39 O 172 Centaurus Diam* Centenera Mng* O 40 Centenera Mng V 172 Centerra Gold T 2452 Central Iron V 41 Central Tim Ex V 272 Centurion Mnls V 951 Century Cobalt* O 170 Century Global T 17 Cerro de Pasc * O 75 Cerro de Pasc 194 Cerro Grande* O 3 Cerro Grande 68 Cerro Mng* O 0 Cerro Mng V 0 Ceylon Graph V 41 Chakana Copper V 299 Chakana Copper* O 84 51 Chalice Gold M* O Chalice Gold M T 632 Champion Bear V 19 Champion Bear* O 4 Champion Iron T 4912 Champion Iron* O 890 Chantrell Vent V 473 V 11 Chatham Rock Chatham Rock* O 1 Chesapeake Gld* O 47 Chesapeake Gld V 27 Chevron Corp* N 37003 Chiboug Ind Mn V 138 Chilean Metals* O 6 Chilean Metals V 400 Chimata Gold 283 China Gold Int T 331 Chinapintza Mg V 5 Cicada Vents V 154 CIM Intl Grp 15 Cipher Res V 200 Clarmin Explor V 281 Clean Comm* O 13 Clean Comm V 414 Cleghorn Mnls V 75 Cleveland-Clif* N 42465 Cliffmont Res V 15 Clifton Mng* O 203 Cloud Peak En* N 20259 CMC Metals* O 1 CMC Metals V 171 CMX Gold & Sil 126 CNRP Mng 417 CNRP Mng* O 541 Cobalt 27 Cap V 3288 Cobalt Block V 75 Cobalt Block* O 13 Cobalt Pwr Grp* O 400 Cobalt Pwr Grp V 1467 Coeur Mng* N 12431 Colibri Res* O 100 Colibri Res V 383 Colombia Crest V 0 Colombia Crest* O 0 Colonial Coal V 338 Colorado Res V 617

0.27 0.25 0.27 + 0.02 0.44 0.18 0.20 0.20 0.20 unch 0.00 0.32 0.14 0.04 0.04 0.04 + 0.01 0.08 0.03 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.02 0.00 0.02 unch 0.00 0.05 0.01 0.02 0.02 0.02 unch 0.00 0.03 0.01 6.35 5.49 5.77 - 0.24 9.94 5.01 7.82 7.25 7.57 - 0.39 12.50 6.87 0.51 0.39 0.42 - 0.05 0.55 0.03 0.65 0.52 0.65 + 0.04 1.10 0.30 0.30 0.23 0.30 + 0.04 0.36 0.19 0.20 0.19 0.19 - 0.00 0.28 0.13 0.08 0.07 0.08 - 0.00 0.36 0.05 0.11 0.10 0.10 - 0.01 0.43 0.08 12.11 11.46 12.11 + 0.25 12.78 8.34 16.02 15.32 16.00 + 0.27 16.70 10.50 0.08 0.06 0.06 - 0.03 0.99 0.03 0.10 0.07 0.08 - 0.02 0.45 0.05 0.12 0.10 0.12 + 0.01 0.33 0.07 0.16 0.13 0.16 + 0.03 0.43 0.09 0.04 0.00 0.04 + 0.03 0.14 0.00 0.10 0.09 0.09 - 0.01 0.18 0.04 0.08 0.08 0.08 unch 0.00 0.13 0.04 0.03 0.03 0.03 unch 0.00 0.12 0.03 0.00 0.00 0.03 unch 0.00 0.04 0.03 0.54 0.48 0.53 unch 0.00 0.90 0.19 0.41 0.36 0.41 + 0.03 0.79 0.01 0.04 0.04 0.04 unch 0.00 0.14 0.04 0.06 0.05 0.06 + 0.01 0.22 0.05 0.05 0.04 0.05 + 0.01 0.10 0.04 0.04 0.02 0.02 - 0.02 0.08 0.02 0.09 0.09 0.09 unch 0.00 0.21 0.09 0.12 0.10 0.10 - 0.01 0.28 0.10 0.07 0.05 0.06 - 0.01 0.20 0.05 0.05 0.05 0.05 unch 0.00 0.06 0.05 0.23 0.21 0.23 + 0.02 0.27 0.15 0.30 0.28 0.28 - 0.03 0.39 0.14 1.63 1.41 1.49 + 0.19 3.98 1.05 1.15 1.13 1.13 unch 0.00 1.15 0.06 0.34 0.30 0.34 + 0.03 0.45 0.25 0.24 0.23 0.24 - 0.00 0.37 0.19 0.03 0.03 0.03 unch 0.00 0.18 0.03 0.07 0.06 0.07 + 0.01 0.09 0.03 0.05 0.05 0.05 + 0.00 0.07 0.02 0.08 0.08 0.08 - 0.01 0.18 0.06 0.00 0.00 0.37 unch 0.00 0.71 0.06 0.38 0.35 0.35 - 0.03 0.90 0.23 0.06 0.05 0.05 - 0.01 0.13 0.05 0.02 0.00 0.02 unch 0.00 0.05 0.02 0.01 0.00 0.01 unch 0.00 0.04 0.01 0.17 0.17 0.17 unch 0.00 0.40 0.11 0.04 0.00 0.04 - 0.01 0.08 0.03 0.00 0.00 0.02 unch 0.00 0.06 0.02 0.11 0.07 0.10 + 0.04 0.21 0.06 0.07 0.00 0.06 + 0.02 0.15 0.03 0.20 0.15 0.18 + 0.03 0.40 0.08 0.14 0.09 0.14 + 0.05 0.19 0.05 0.03 0.00 0.02 - 0.01 0.05 0.02 1.00 0.82 0.85 - 0.15 1.10 0.15 0.69 0.65 0.65 - 0.04 0.77 0.01 0.08 0.08 0.08 unch 0.00 0.32 0.04 0.07 0.06 0.06 - 0.00 0.24 0.05 0.63 0.58 0.60 - 0.04 1.48 0.48 0.00 0.00 0.09 unch 0.00 0.14 0.06 0.08 0.07 0.08 unch 0.00 0.19 0.06 0.06 0.00 0.05 + 0.00 0.17 0.04 0.39 0.36 0.39 + 0.02 0.63 0.35 0.04 0.03 0.03 - 0.01 0.06 0.02 0.06 0.05 0.05 - 0.01 0.17 0.03 0.10 0.09 0.09 - 0.01 0.20 0.07 0.13 0.11 0.12 - 0.01 0.25 0.11 0.05 0.04 0.04 unch 0.00 0.10 0.04 0.18 0.16 0.16 - 0.02 0.24 0.12 0.03 0.03 0.03 unch 0.00 0.15 0.03 0.02 0.01 0.02 + 0.01 0.03 0.01 0.10 0.10 0.10 unch 0.00 0.50 0.08 0.11 0.09 0.10 - 0.01 0.60 0.09 0.15 0.13 0.13 - 0.01 0.76 0.13 2.03 1.91 2.01 + 0.03 2.96 1.40 0.20 0.13 0.20 + 0.03 0.20 0.04 0.03 0.02 0.03 + 0.00 0.16 0.01 0.05 0.04 0.04 - 0.01 0.21 0.04 6.95 6.09 6.83 + 0.71 8.21 4.76 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.10 0.06 0.06 - 0.04 0.20 0.07 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.15 0.06 0.12 - 0.03 0.20 0.01 0.20 0.20 0.20 unch 0.00 0.29 0.11 0.20 0.20 0.20 unch 0.00 0.25 0.16 0.27 0.24 0.25 - 0.02 0.37 0.22 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.01 0.01 0.01 - 0.01 0.02 0.01 0.00 0.00 0.12 unch 0.00 0.13 0.12 0.00 0.00 0.17 unch 0.00 0.22 0.14 0.18 0.16 0.16 + 0.01 0.23 0.14 0.39 0.31 0.34 - 0.06 1.05 0.25 0.28 0.23 0.26 - 0.01 0.79 0.19 0.10 0.09 0.09 - 0.00 0.15 0.08 0.13 0.11 0.13 + 0.02 0.19 0.10 0.22 0.16 0.20 unch 0.00 0.25 0.10 0.16 0.00 0.16 - 0.01 0.17 0.10 1.37 1.08 1.35 + 0.25 1.52 0.89 0.98 0.00 0.98 + 0.14 1.17 0.70 0.06 0.05 0.05 - 0.03 0.12 0.04 0.19 0.17 0.17 - 0.02 0.32 0.14 0.14 0.14 0.14 unch 0.00 0.25 0.10 1.66 1.40 1.59 + 0.13 2.94 1.10 2.20 1.92 2.01 + 0.08 3.65 1.51 114.78 110.42 113.22 - 1.15 131.87 100.22 0.06 0.05 0.05 - 0.01 0.07 0.04 0.03 0.00 0.03 + 0.00 0.12 0.01 0.05 0.00 0.05 - 0.01 0.34 0.03 0.08 0.00 0.07 unch 0.00 0.15 0.05 1.57 1.46 1.57 + 0.06 3.19 1.46 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.19 0.19 0.19 unch 0.00 0.32 0.19 0.07 0.07 0.07 unch 0.00 0.17 0.05 0.16 0.14 0.14 - 0.02 0.30 0.10 0.02 0.02 0.02 unch 0.00 0.16 0.01 0.03 0.03 0.03 unch 0.00 0.21 0.03 0.08 0.07 0.07 - 0.01 0.14 0.07 9.76 8.56 9.61 + 0.60 13.10 6.30 0.14 0.00 0.14 unch 0.00 0.90 0.11 0.08 0.06 0.07 + 0.01 0.10 0.05 0.42 0.33 0.41 + 0.06 5.38 0.26 0.06 0.06 0.06 unch 0.00 0.05 0.01 0.10 0.09 0.09 - 0.01 0.14 0.04 0.05 0.05 0.05 unch 0.00 0.12 0.04 0.45 0.39 0.40 - 0.03 2.02 0.31 0.35 0.29 0.31 - 0.02 1.58 0.21 4.49 3.86 4.47 + 0.54 14.00 3.27 0.16 0.13 0.15 - 0.02 0.40 0.09 0.13 0.10 0.11 - 0.01 0.32 0.06 0.02 0.02 0.02 - 0.00 0.23 0.01 0.02 0.02 0.02 unch 0.00 0.28 0.01 4.72 4.23 4.67 + 0.23 8.89 3.80 0.03 0.03 0.03 + 0.00 0.07 0.01 0.05 0.04 0.05 + 0.01 0.10 0.03 0.00 0.00 0.05 unch 0.00 0.40 0.04 0.00 0.00 0.03 unch 0.00 0.10 0.01 0.55 0.46 0.48 - 0.03 0.58 0.11 0.06 0.06 0.06 unch 0.00 0.19 0.05

C

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

O 21 Colorado Res* Colt Res* O 32 T 163 Columbus Gold O 171 Columbus Gold* Comet Inds V 4 V 13 Commander Res V 216 Commerce Res O 152 Commerce Res* O 50 Compass Gold* V 291 Compass Gold X 3316 Comstock Mng* V 139 Comstock Mtls 55 Comstock Mtls * O 7 Gold T Condor Condor Res V 418 Condor Res* O 51 O 3 Confedertn Ml* V 67 Confedertn Mls V 239 Conquest Res V 142 Cons Woodjam CONSOL Coal Rs* N 127 N 987 CONSOL Energy* N 8975 CONSOL Energy* O 179 Constantine Mt* V 188 Constantine Mt O 84 Contact Gold* Contact Gold V 145 Contintl Gold* O 186 Contintl Gold T 1941 Contintl Prec* O 14 Contintl Prec V 13 648 Copper Fox Mtl V Copper Fox Mtl* O 101 Copper Lake Rs V 1000 Copper Mtn Mng T 1234 63 Copper Mtn Mng* O 2 Copper North M* O 40 Copper North M V Copper One V 49 905 Copper Reef Mg Copperbank Res 805 O 302 Copperbank Res* Coral Gold * O 166 Coral Gold V 393 Cordoba Mnls V 342 O 41 Cordoba Mnls* Core Gold V 268 Core Gold* O 70 V 528 Cornerstone Ca O 35 Cornerstone Ca* Coro Mining T 1463 Corsa Coal * O 25 Corsa Coal V 17 Corvus Gold* O 276 Corvus Gold T 289 CR Capital V 179 0 Crazy Horse Res* O Crest Resource 20 Critical Elem V 289 Critical Elem* O 153 V 698 CROPS Crown Mining V 521 O 7 Crown Mining* Cruz Cobalt V 521 Cruz Cobalt* O 116 Crystal Lake* O 2 Crystal Lake V 48 Crystal Peak V 198 Crystal Peak* O 312 22 Currie Rose Rs V 1 Currie Rose Rs* O 1 CWN M’g Acq V Cyntar Venture 25 Cypress Dev* O 144 Cypress Dev V 405

0.03 0.05 0.04 0.05 + 0.01 0.15 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.18 0.23 0.21 0.22 + 0.01 0.64 0.14 0.17 0.15 0.16 + 0.01 0.52 2.60 unch 0.00 3.60 3.00 3.00 3.00 0.07 0.09 0.09 0.09 - 0.01 0.25 0.05 unch 0.00 0.09 0.06 0.05 0.06 0.04 unch 0.00 0.07 0.04 0.04 0.04 0.20 unch 0.00 0.30 0.20 0.20 0.20 0.15 0.19 0.15 0.15 - 0.02 0.74 0.12 0.14 0.13 0.14 + 0.00 0.49 0.03 unch 0.00 0.08 0.04 0.04 0.04 0.02 0.02 0.02 unch 0.00 0.07 0.01 0.44 0.60 0.53 0.53 - 0.07 1.33 0.05 0.08 0.00 0.07 - 0.02 0.13 0.04 0.07 0.05 0.05 - 0.01 0.10 0.16 unch 0.00 0.37 0.19 0.19 0.19 0.20 unch 0.00 0.55 0.26 0.23 0.24 0.01 0.02 0.02 0.02 + 0.01 0.07 0.03 0.05 0.03 0.05 + 0.02 0.07 18.16 17.11 17.95 + 0.59 21.13 13.40 26.62 35.24 33.10 34.70 + 0.61 48.12 10.78 13.45 12.59 13.19 - 0.25 18.37 0.12 0.40 0.33 0.37 + 0.02 0.65 0.39 0.51 0.44 0.49 + 0.03 0.86 0.20 0.28 0.27 0.28 - 0.00 0.38 0.27 0.39 0.30 0.32 - 0.05 0.50 1.33 1.52 1.33 1.39 - 0.06 3.21 1.76 1.90 1.76 1.83 - 0.07 4.01 0.23 0.28 0.00 0.26 - 0.01 0.34 0.30 unch 0.00 0.46 0.36 0.35 0.36 0.13 0.11 0.12 unch 0.00 0.14 0.08 0.09 0.08 0.09 + 0.01 0.11 0.06 0.02 0.02 0.02 unch 0.00 0.10 0.01 0.89 0.83 0.84 - 0.05 1.45 0.65 0.68 0.63 0.65 - 0.02 1.29 0.48 0.03 0.00 0.03 unch 0.00 0.05 0.02 0.04 0.04 0.04 unch 0.00 0.07 0.04 0.10 0.17 0.15 0.15 - 0.02 0.20 0.02 0.02 0.02 unch 0.00 0.03 0.02 0.04 unch 0.00 0.12 0.07 0.05 0.06 0.03 0.04 0.00 0.04 + 0.00 0.09 0.32 0.26 0.32 + 0.03 0.34 0.16 0.32 0.40 0.37 0.39 + 0.02 0.44 0.10 0.12 0.11 0.12 + 0.01 0.40 0.07 0.09 0.08 0.09 - 0.00 0.32 0.19 0.26 0.23 0.25 + 0.02 0.35 0.14 0.18 0.17 0.18 + 0.00 0.34 0.14 unch 0.00 0.39 0.31 0.28 0.29 0.03 0.23 0.21 0.23 + 0.02 0.28 0.05 unch 0.00 0.16 0.06 0.05 0.06 0.37 0.56 0.00 0.55 - 0.02 1.65 0.61 0.84 0.74 0.74 - 0.10 2.05 1.10 1.75 1.54 1.73 + 0.10 2.72 1.40 2.33 2.12 2.30 + 0.12 3.39 0.02 0.05 0.05 0.05 - 0.01 0.15 0.00 0.00 0.08 unch 0.00 0.15 0.08 0.10 unch 0.00 0.15 0.11 0.11 0.11 0.65 0.73 0.70 0.72 + 0.01 1.46 0.48 0.56 0.53 0.55 + 0.03 1.17 0.03 0.05 0.03 0.05 + 0.01 0.12 0.07 0.09 0.08 0.09 - 0.01 0.28 0.06 unch 0.00 0.21 0.07 0.07 0.07 0.05 0.06 0.00 0.06 + 0.01 0.41 0.03 0.05 0.04 0.05 + 0.01 0.35 0.19 unch 0.00 0.83 0.22 0.22 0.22 0.27 unch 0.00 1.12 0.31 0.27 0.30 0.16 0.20 0.18 0.19 - 0.01 0.45 0.12 0.15 0.00 0.14 + 0.01 0.34 0.06 0.05 0.06 - 0.01 0.20 0.05 0.04 0.04 0.04 unch 0.00 0.07 0.04 0.05 0.05 0.05 unch 0.00 0.25 0.03 0.08 unch 0.00 0.15 0.09 0.09 0.09 0.13 0.18 0.17 0.18 + 0.00 0.34 0.16 0.24 0.22 0.24 + 0.01 0.43

Dajin Res V 487 Dajin Res* O 637 Dakota Ter Res* O 893 Daleco Res* O 50 Danakali* O 117 Debut Dmds 90 Decade Res V 996 Declan Cobalt 557 O 21 Declan Cobalt* V 75 Deep-South Res DeepRock Min 1 V 987 Defense Metals Defiance Silvr V 700 O 211 Defiance Silvr* Delrand Res V 66 Delrey Metals 911 T 2224 Denison Mines X 2885 Denison Mines* Desert Gold V 47 Desert Lion* O 66 Desert Lion V 3657 327 Desert Mtn Egy V Detour Gold T 2560 O 240 Diamante Min* Diamcor Mng V 187 O 17 Diamcor Mng* V 60 Diamond Fields O 4 Diamond Fields* Dios Expl V 44 V 277 Discovery Harb O 52 Discovery Met* V 159 Discovery Met 1810592 O Discovery Mnls* V 10 Discovery-Corp District Cop* O 10 District Cop V 2906 Ditem Explor* O 12 O 5 Diversified Rs* DNI Metals 230 DNI Metals* O 155 O 52 Dolat Ventures* 64 Dolly Vard Sil* O 246 Dolly Vard Sil V V 644 Doubleview Cap DRDGOLD* N 367 30 Duncan Park H V Dundee Prec Mt T 1683 O 724 Dunnedin Vent* Durango Res V 416 Durango Res* O 25 DV Resources V 44 92 Dynacor Gld Mn T 11 Dynacor Gld Mn* O O 0 Dynamic Gold* O 40 DynaResource* O 2 Dynasty Gold* Dynasty Gold V 164 E3 Metals* O 6 E3 Metals V 280 V 43 Eagle Graphite O 6 Eagle Graphite* Eagle Plains V 178 386 V East Africa 0 East Africa * O 545 East Asia Mnls V East Asia Mnls* O 1160 EastCoal Inc V 0 Eastern Platin T 15 O 20 Eastern Platin* Eastern Zinc 13 Eastfield Res V 42 O 120 Eastmain Res* Eastmain Res T 1014 97 Eco Oro Mnls Eco Oro Mnls* O 205 eCobalt Solns T 622 O 608 eCobalt Solns* V 1 Edgewater Expl O 190 Edgewater Expl* O 30 Edison Cobalt* Edison Cobalt V 121 El Capitan Prc* O 404 50 El Nino Vent V 2 El Nino Vent* O 280 Elcora Adv Mat V Elcora Res* O 244 N 6975 Eldorado Gold* T 3774 Eldorado Gold Eloro Res* O 1 Eloro Res V 131 231 Ely Gold Royal V

0.04 0.06 0.05 0.06 + 0.01 0.18 0.03 0.05 0.04 0.04 + 0.00 0.14 0.15 0.04 0.05 - 0.02 0.15 0.03 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.44 0.54 0.51 0.54 - 0.01 0.69 0.01 unch 0.00 0.03 0.01 0.00 0.01 0.03 0.04 0.03 0.04 - 0.01 0.10 0.16 0.22 0.19 0.20 + 0.02 0.42 0.12 0.16 0.14 0.16 + 0.02 0.30 0.06 unch 0.00 0.45 0.09 0.09 0.09 0.06 unch 0.00 0.10 0.00 0.00 0.09 0.12 0.21 0.17 0.21 + 0.01 0.25 0.17 0.23 0.19 0.22 - 0.01 0.44 0.12 0.17 0.14 0.17 + 0.00 0.35 0.25 unch 0.00 1.55 0.38 0.33 0.38 0.19 0.29 0.20 0.29 + 0.09 0.50 0.54 0.70 0.64 0.70 + 0.04 0.89 0.43 0.53 0.48 0.53 + 0.04 0.69 0.14 0.19 0.17 0.17 - 0.01 0.30 0.05 0.15 0.10 0.14 + 0.04 1.07 0.04 0.19 0.10 0.19 + 0.09 2.35 0.24 0.20 0.24 unch 0.00 0.27 0.10 12.58 11.74 12.35 + 0.36 15.40 9.11 0.02 0.10 0.06 0.06 - 0.02 0.24 0.24 0.28 0.25 0.25 - 0.03 0.54 0.11 0.21 0.20 0.20 - 0.01 0.44 0.07 0.11 0.00 0.11 + 0.01 0.15 0.04 unch 0.00 0.08 0.04 0.04 0.04 0.05 0.07 0.06 0.07 - 0.01 0.19 0.04 unch 0.00 0.08 0.04 0.04 0.04 0.15 unch 0.00 0.39 0.15 0.15 0.15 0.17 0.22 0.19 0.21 + 0.01 0.47 0.00 0.00 0.00 0.00 + 0.00 0.00 0.01 unch 0.00 0.03 0.01 0.01 0.01 0.02 unch 0.00 0.16 0.03 0.03 0.03 0.03 0.04 0.04 0.04 - 0.01 0.21 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.01 unch 0.00 0.05 0.02 0.02 0.02 0.04 0.06 0.05 0.05 - 0.01 0.14 0.03 0.05 0.04 0.05 + 0.01 0.12 0.10 unch 0.00 5.40 0.38 0.25 0.35 0.33 0.27 0.33 - 0.00 0.77 0.22 0.44 0.34 0.43 + 0.03 0.93 0.29 0.07 0.15 0.12 0.14 + 0.03 0.13 1.76 2.13 1.92 2.01 + 0.02 3.24 0.01 0.01 0.01 unch 0.00 0.02 0.01 3.81 3.50 3.72 + 0.17 3.85 2.56 0.05 0.06 0.05 0.05 - 0.01 0.26 0.04 0.09 0.08 0.08 - 0.01 0.10 0.04 unch 0.00 0.07 0.06 0.06 0.06 0.08 unch 0.00 0.50 0.08 0.08 0.08 1.65 1.55 1.64 + 0.02 2.26 1.41 1.27 1.15 1.17 - 0.10 1.85 1.02 0.75 unch 0.00 3.00 0.00 0.00 1.99 0.75 unch 0.00 1.25 1.00 0.99 1.00 0.08 unch 0.00 0.22 0.11 0.11 0.11 0.10 0.16 0.12 0.12 - 0.01 0.27 0.24 unch 0.00 0.46 0.24 0.24 0.24 0.29 0.34 0.29 0.32 - 0.01 0.60 0.07 0.10 0.09 0.09 - 0.01 0.36 0.01 0.07 0.00 0.07 + 0.01 0.18 0.08 0.11 0.10 0.11 + 0.01 0.29 0.20 0.16 0.18 + 0.02 0.32 0.14 0.11 0.11 0.11 unch 0.00 0.25 0.10 0.06 0.05 0.05 - 0.01 0.10 0.03 0.05 0.04 0.04 - 0.01 0.08 0.02 0.10 unch 0.00 0.30 0.00 0.00 0.10 0.17 0.21 0.00 0.21 + 0.01 0.50 0.12 0.17 0.14 0.14 - 0.03 0.37 0.09 0.11 0.09 0.09 - 0.02 0.56 0.03 0.03 0.00 0.03 - 0.01 0.06 0.11 0.13 0.11 0.12 - 0.01 0.25 0.14 0.17 0.16 0.16 - 0.01 0.32 0.23 0.18 0.23 unch 0.00 0.39 0.15 0.16 0.14 0.14 - 0.02 0.77 0.00 0.45 0.54 0.49 0.50 - 0.01 1.74 0.32 0.41 0.36 0.38 + 0.00 1.38 0.10 unch 0.00 0.18 0.00 0.00 0.10 0.07 unch 0.00 0.12 0.09 0.07 0.07 0.04 unch 0.00 0.20 0.05 0.05 0.05 0.05 unch 0.00 0.28 0.07 0.06 0.06 0.02 0.01 0.02 + 0.00 0.05 0.00 0.04 0.04 0.04 - 0.01 0.06 0.03 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.10 0.08 0.08 unch 0.00 0.43 0.06 0.05 unch 0.00 0.35 0.06 0.06 0.06 2.52 2.81 2.52 2.69 + 0.03 7.20 3.36 unch 0.00 8.90 3.72 3.36 3.54 0.27 unch 0.00 0.80 0.32 0.32 0.32 0.33 unch 0.00 1.05 0.43 0.42 0.42 0.15 0.13 0.13 - 0.01 0.17 0.09

D-F

2019-01-28 2:47 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / FEBRUARY 4–17, 2019

Week

12-month

Exc Volume High Low Last Change High Low

Ely Gold Royal* O 95 Elysee Dev * O 0 Elysee Dev V 3 Emerita Res V 932 Emgold Mng* O 0 Emgold Mng V 112 Empire Metals V 1 EMX Royalty* X 294 EMX Royalty V 239 O 1 Encanto Potash* Encanto Potash V 76 V 726 EnCore Energy Endeavour Mng T 1024 O 29 Endeavour Mng* Endeavr Silver* N 3505 Endeavr Silver T 628 Endurance Gold* O 14 Endurance Gold V 81 Energy Fuels* X 3994 Energy Fuels T 816 Enforcer Gold* O 64 Enforcer Gold V 1244 Engineer Gold V 50 Engold Mines V 21 Ensurge* O 16 Entree Res* X 531 Entree Res T 193 ePower Metals* O 22 ePower Metals V 376 Equinox Gold V 1477 Equitorial Ex* O 181 Equitorial Ex V 1803 Erdene Res Dev T 157 Erdene Res Dev* O 20 Erin Ventures V 126 Erin Ventures* O 9 Ero Copper* O 2 Ero Copper T 1110 Eros Res Corp* O 3 Eros Res Corp V 88 Eros Res Corp V 88 Eskay Mng V 345 Essex Minerals V 92 Ethos Gold* O 314 Ethos Gold V 552 Etruscus Res 111 Euro Manganese V 89 Euro Sun Mg* O 23 Euro Sun Mg T 287 O 13 EurOmax Res* EurOmax Res T 23 O 328 European Elect* European Elect V 350 European Metal* O 334 V 8 Eurotin Everton Res V 268 Everton Res* O 30 Evrim Res V 760 Excellon Res T 395 Excellon Res* O 276 Excelsior Mng* O 163 T 289 Excelsior Mng 238 ExGen Res Inc V Explor Res* O 190 Explor Res V 80 Explorex Res 361 Explorex Res* O 25 Fabled Copper V 17 Falco Res V 588 Falco Res * O 74 Falcon Gold V 446 Fancamp Expl V 405 Far Res 3507 Far Res* O 46 V 0 Fengro Industr Fidelity Min V 303 Fidelity Min* O 250 Filo Mg Corp * O 15 62 Filo Mg Corp V Finlay Minrls V 104 Fiore Gold* O 337 Fiore Gold V 468 0 Fire River Gol* O Firebird Res V 1 FireFox Gold V 346 Firestone Vent V 8 Fireweed Zinc V 151 Fireweed Zinc* O 18 Firma Holdings* O 211 First Cobalt * O 992 First Cobalt V 1922 O 2478 First Colombia* First Energy V 30 First Energy* O 10 First Majestic* N 16968 First Majestic T 2453 First Mexican V 1221 First Mg Fin * O 1787 T 1716 First Mg Fin First Point* O 61 First Quantum T 12984 V 689 First Vanadium O 205 First Vanadium* Fission 3.0 V 1166 Fission 3.0* O 147 Fission Uran* O 897 Fission Uran T 1193 Five Star Diam V 7 O 24 Fjordland Exp* Fjordland Exp V 197 Focus Graphite* O 2077 Focus Graphite V 2502 Foran Mng V 14 Forsys Metals T 79 Fort St J Nick V 0 Fort St James* O 10 Fortescue Met* O 10 Fortuna Silvr T 1464 Fortuna Silvr* N 4441 Fortune Bay V 55 Fortune Bay* O 39 O 171 Fortune Mnrls* Fortune Mnrls T 825 Forum Energy V 149 Forum Energy* O 3 Four Nines 1 10 Fox River Res Fox River Res* O 6 FPX Nickel V 491 Franco-Nevada* N 2183 T 1677 Franco-Nevada Franklin Mng* O 2 Freedom Egy V 3 Freegold Vent T 380 Freeport McMoR* N 185857 Freeport Res V 10 Fremont Gold V 275 Fremont Gold* O 82 Fresnillo plc* O 42 Frontier Lith V 389 Frontline Gold V 25 Full Metal Mnl* O 0 Fura Gems V 262 Fura Gems* O 124 Fusion Gold V 30

0.11 0.09 0.11 - 0.00 0.13 0.07 0.00 0.00 0.27 unch 0.00 0.32 0.23 0.38 0.00 0.36 unch 0.00 0.40 0.31 0.03 0.02 0.03 unch 0.00 0.14 0.02 0.00 0.00 0.05 unch 0.00 0.18 0.03 0.08 0.07 0.07 - 0.01 0.22 0.05 0.00 0.00 0.21 unch 0.00 0.24 0.11 1.15 1.12 1.12 - 0.01 1.47 0.84 1.53 1.45 1.48 - 0.02 1.80 1.01 0.13 0.12 0.12 - 0.01 0.22 0.02 0.18 0.17 0.17 - 0.01 0.60 0.14 0.12 0.11 0.12 + 0.01 0.14 0.05 22.18 19.55 21.92 + 1.87 26.76 16.34 16.74 15.01 16.72 + 1.60 21.68 12.38 2.07 1.89 2.06 + 0.11 3.35 1.76 2.75 2.52 2.71 + 0.12 4.40 2.27 0.04 0.03 0.03 - 0.00 0.06 0.03 0.05 0.03 0.04 - 0.01 0.09 0.03 3.00 2.63 2.91 unch 0.00 4.09 1.49 3.90 3.52 3.85 - 0.02 5.38 1.82 0.05 0.03 0.04 - 0.02 0.07 0.02 0.07 0.05 0.05 - 0.02 0.27 0.05 0.11 0.10 0.10 - 0.02 0.12 0.05 0.14 0.14 0.14 + 0.01 0.28 0.09 0.05 0.04 0.05 unch 0.00 0.09 0.02 0.42 0.35 0.42 + 0.03 0.55 0.33 0.56 0.50 0.55 + 0.03 0.66 0.42 0.23 0.16 0.16 - 0.04 0.35 0.12 0.25 0.20 0.20 - 0.06 0.53 0.14 1.07 1.02 1.05 unch 0.00 1.30 0.85 0.03 0.02 0.02 - 0.01 0.08 0.02 0.04 0.03 0.04 - 0.01 0.11 0.02 0.23 0.21 0.22 + 0.01 0.56 0.18 0.18 0.16 0.16 + 0.00 0.46 0.14 0.15 0.14 0.14 - 0.01 0.33 0.09 0.10 0.10 0.10 - 0.01 0.23 0.08 8.56 8.06 8.06 - 0.50 9.17 5.75 12.00 10.70 11.77 + 0.44 12.35 6.87 0.05 0.00 0.05 + 0.00 0.13 0.05 0.08 0.00 0.08 unch 0.00 0.16 0.07 0.08 0.00 0.08 unch 0.00 0.16 0.07 0.10 0.08 0.08 - 0.02 0.38 0.08 0.05 0.04 0.05 unch 0.00 0.20 0.03 0.24 0.19 0.21 - 0.01 0.25 0.09 0.31 0.26 0.30 + 0.01 0.34 0.12 0.45 0.25 0.26 + 0.01 0.45 0.25 0.26 0.00 0.25 - 0.02 0.27 0.15 0.36 0.30 0.33 - 0.01 1.40 0.27 0.43 0.40 0.42 - 0.01 1.82 0.37 0.06 0.06 0.06 unch 0.00 0.24 0.01 0.08 0.07 0.07 unch 0.00 0.29 0.02 0.11 0.10 0.11 unch 0.00 0.79 0.09 0.15 0.13 0.14 + 0.01 0.93 0.12 0.00 0.00 0.00 + 0.00 0.01 0.00 0.10 0.10 0.10 unch 0.00 0.13 0.01 0.03 0.03 0.03 - 0.01 0.06 0.02 0.03 0.03 0.03 + 0.01 0.05 0.02 0.35 0.30 0.31 - 0.01 1.70 0.27 0.87 0.70 0.85 + 0.10 1.93 0.59 0.65 0.51 0.65 + 0.07 1.59 0.44 0.63 0.59 0.61 - 0.01 1.21 0.53 0.82 0.79 0.80 - 0.01 1.50 0.71 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.02 0.01 0.01 - 0.00 0.05 0.01 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.34 0.21 0.25 - 0.06 0.45 0.21 0.24 0.24 0.24 unch 0.00 0.31 0.18 0.07 0.07 0.07 - 0.02 0.09 0.04 0.37 0.32 0.32 - 0.02 1.06 0.28 0.29 0.24 0.24 - 0.04 0.88 0.18 0.04 0.03 0.03 - 0.01 0.06 0.03 0.06 0.05 0.06 unch 0.00 0.13 0.04 0.14 0.12 0.14 + 0.02 0.86 0.06 0.10 0.00 0.10 + 0.01 0.88 0.04 0.00 0.00 0.04 unch 0.00 0.26 0.04 0.07 0.06 0.06 unch 0.00 0.11 0.03 0.05 0.05 0.05 unch 0.00 0.05 0.01 0.00 0.00 1.65 unch 0.00 1.65 1.65 2.21 2.19 2.20 unch 0.00 2.74 2.00 0.04 0.03 0.03 - 0.01 0.06 0.02 0.29 0.25 0.28 + 0.01 0.71 0.16 0.39 0.33 0.38 + 0.03 0.87 0.21 0.00 0.00 0.00 unch 0.00 2.41 0.00 0.00 0.00 0.02 unch 0.00 0.06 0.02 0.30 0.28 0.29 + 0.01 0.39 0.27 0.07 0.00 0.07 unch 0.00 0.18 0.04 0.92 0.87 0.90 unch 0.00 2.14 0.74 0.71 0.67 0.67 - 0.01 1.67 0.54 0.03 0.02 0.02 - 0.00 0.10 0.01 0.14 0.11 0.14 + 0.02 0.99 0.11 0.18 0.15 0.18 + 0.03 1.24 0.15 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.28 0.20 0.20 - 0.01 0.43 0.10 0.16 0.00 0.16 - 0.01 0.32 0.10 5.63 5.06 5.55 + 0.40 8.48 4.59 7.45 6.74 7.33 + 0.49 11.09 6.12 0.02 0.00 0.02 unch 0.00 0.07 0.01 0.28 0.23 0.27 + 0.02 0.47 0.16 0.37 0.31 0.36 + 0.03 0.57 0.21 0.12 0.00 0.12 + 0.02 0.13 0.06 13.31 12.12 13.09 + 0.39 23.05 9.45 0.76 0.59 0.67 - 0.08 1.96 0.26 0.57 0.44 0.52 - 0.03 1.60 0.22 0.16 0.12 0.13 - 0.03 0.30 0.08 0.12 0.08 0.10 - 0.02 0.22 0.02 0.43 0.39 0.42 + 0.01 0.70 0.35 0.57 0.52 0.57 + 0.03 0.83 0.49 0.06 0.00 0.06 unch 0.00 0.25 0.05 0.07 0.06 0.07 + 0.01 0.24 0.06 0.10 0.08 0.10 - 0.01 0.33 0.08 0.03 0.02 0.02 - 0.00 0.07 0.01 0.04 0.03 0.03 unch 0.00 0.08 0.02 0.33 0.00 0.33 unch 0.00 0.62 0.23 0.23 0.21 0.22 + 0.01 0.32 0.09 0.00 0.00 0.31 unch 0.00 0.59 0.20 0.23 0.23 0.23 unch 0.00 0.23 0.18 3.35 0.00 3.35 + 0.15 4.30 2.53 4.81 4.45 4.75 + 0.30 7.78 4.22 3.64 3.32 3.60 + 0.26 6.08 3.16 0.21 0.00 0.21 + 0.01 0.45 0.19 0.17 0.14 0.15 + 0.00 0.32 0.10 0.08 0.07 0.08 + 0.01 0.25 0.00 0.11 0.10 0.11 + 0.01 0.32 0.07 0.05 0.04 0.04 unch 0.00 0.09 0.04 0.04 0.03 0.04 + 0.01 0.05 0.02 0.00 0.00 0.31 unch 0.00 0.80 0.10 0.09 0.00 0.06 unch 0.00 0.09 0.05 0.04 0.04 0.04 unch 0.00 0.05 0.04 0.17 0.14 0.15 + 0.01 0.18 0.08 72.92 68.19 72.81 + 3.91 78.87 58.26 96.65 90.83 96.35 + 4.87 99.93 76.53 0.00 0.00 0.00 + 0.00 0.00 0.00 0.00 0.00 0.02 unch 0.00 0.09 0.02 0.07 0.06 0.06 unch 0.00 0.13 0.06 12.65 10.60 11.24 - 1.32 20.25 9.60 0.09 0.09 0.09 unch 0.00 0.10 0.05 0.18 0.15 0.18 + 0.02 0.22 0.09 0.15 0.12 0.13 + 0.01 0.18 0.07 12.28 11.40 12.28 + 0.88 19.93 9.35 0.38 0.32 0.36 + 0.04 0.85 0.30 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.00 0.00 0.00 unch 0.00 0.10 0.00 0.34 0.29 0.32 + 0.02 1.13 0.28 0.24 0.00 0.23 - 0.00 1.20 0.20 0.13 0.12 0.12 unch 0.00 0.30 0.11

Gabriel Res V 97 Gabriel Res* O 38 Gainey Capital V 968 Galane Gold * O 51 Galane Gold V 122 Galantas Gold V 597 Galantas Gold* O 90 Galore Res V 90 83 Galway Gold * O Galway Gold V 84 Galway Mtls* O 158 Galway Mtls V 309 GAR Limited 6192 Garibaldi Res V 473 Garibaldi Res * O 78 Gatling Explor V 449 Gatling Explor* O 191 General Moly T 25 General Moly* X 835 Generation Min 217 Generic Gold 199 Genesis Mtls V 432 Genesis Mtls* O 37 Genius Metals 25 Gensource Pot V 524 Gentor Res V 6 Geomega Res V 78 Gespeg Cop Res V 5783

0.41 0.37 0.40 + 0.01 0.45 0.29 0.30 0.27 0.28 + 0.01 0.33 0.20 0.07 0.05 0.07 + 0.02 0.12 0.04 0.04 0.03 0.04 + 0.01 0.06 0.03 0.06 0.05 0.06 + 0.01 0.07 0.04 0.15 0.08 0.10 + 0.02 0.15 0.07 0.06 0.06 0.06 unch 0.00 0.10 0.06 0.02 0.02 0.02 - 0.01 0.06 0.02 0.09 0.09 0.09 unch 0.00 0.12 0.07 0.13 0.12 0.13 unch 0.00 0.34 0.10 0.16 0.12 0.16 + 0.04 0.29 0.10 0.22 0.17 0.20 + 0.02 0.36 0.13 0.15 0.13 0.13 - 0.01 0.65 0.07 0.98 0.88 0.96 + 0.03 3.60 0.86 0.74 0.65 0.74 + 0.04 2.82 0.65 0.38 0.34 0.34 - 0.01 0.58 0.13 0.28 0.25 0.26 - 0.01 0.31 0.25 0.36 0.28 0.28 - 0.08 0.63 0.22 0.28 0.21 0.22 - 0.07 0.46 0.16 0.10 0.10 0.10 unch 0.00 0.20 0.08 0.05 0.00 0.05 unch 0.00 0.32 0.03 0.09 0.07 0.08 unch 0.00 0.14 0.05 0.06 0.05 0.05 - 0.00 0.12 0.04 0.19 0.18 0.18 - 0.01 0.25 0.12 0.11 0.10 0.11 unch 0.00 0.16 0.08 0.06 0.06 0.06 unch 0.00 0.12 0.06 0.09 0.08 0.09 + 0.01 0.20 0.07 0.05 0.03 0.03 unch 0.00 0.05 0.02

G-H

20-23_FEB4_StockTables.indd 21

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Getchell Gold 363 Getty Copper V 1 V 296 GFG Resources GFG Resources* O 224 GGL Res* O 0 GGL Res V 155 GGX Gold V 9251 GGX Gold* O 113 Giga Metals V 146 Giga Metals* O 59 Gitennes Expl V 264 Giyani Gold V 317 Giyani Gold* O 58 Glacier Lake* O 150 Glacier Lake V 55 Gldn Predator* O 187 Gldn Predator V 299 Glen Eagle Res V 221 Glencore Plc* O 1032 Global Atomic V 221 O 37 Global Energy* Global Energy V 685 Global Gold* O 0 Global Li-Ion 209 Global Li-Ion* O 82 Global Vanad V 20 O 105 Global Vanad* GlobalMin Vent* O 1 Globex Mng* O 7 Globex Mng T 94 GMV Minerals V 44 GMV Minerals* O 17 O 3297 GNCC Capital* Go Cobalt 113 GobiMin V 5 GoGold Res T 281 O 3741 Gold Dynamics* Gold Fields* N 26012 Gold Finder Ex* O 716 Gold Finder Ex V 474 Gold Lakes* O 1 Gold Reserve* O 179 Gold Reserve V 28 Gold Resource* X 2467 180 Gold Rush Cari V Gold Std Vents T 228 983 Gold Std Vents* X Goldbank Mng V 1 Goldcliff Res* O 11 Goldcliff Res V 7 Goldcorp T 12072 Goldcorp* N 59671 Golden Arrow V 288 Golden Arrow* O 499 Golden Band* O 176 Golden Cariboo V 9 985 Golden Dawn Ml V Golden Dawn Ml* O 12 O 1 Golden Goliath* Golden Goliath V 305 Golden Harp V 2 Golden Hope V 31 O 81 Golden Hope* Golden Mnls T 106 Golden Mnls* X 848 Golden Pursuit V 0 T 1711 Golden Queen Golden Queen* O 1898 Golden Ridge V 964 Golden Secret V 79 Golden Share V 63 Golden Star* X 830 Golden Star T 81 Golden Sun* O 5 Golden Tag V 12 Golden Valley V 307 O 186 Golden Valley* Goldex Res* O 1 Goldex Res V 65 Goldgroup Mng T 303 O 416 Goldgroup Mng* GoldMining T 734 GoldMining* O 696 GoldON Res V 44 O 182 Goldplay Expl* Goldplay Expl V 322 V 846 GoldQuest Mng Goldrea Res 216 Goldrea Res* O 106 Goldrich Mng* O 339 O 1815 Goldsource Min* Goldsource Min V 12220 Goldstar Mnls V 388 Goldstream Mnl V 806 V 903 Goldstrike Res GoldTrain Res 615 Goliath Res V 197 Goliath Res* O 49 Gossan Res V 177 GoviEx Uranium* O 613 V 1403 GoviEx Uranium Gowest Gold* O 5 Gowest Gold V 366 GPM Metals* O 660 GPM Metals V 667 Gran Colombia* O 141 T 409 Gran Colombia Granada Gold V 204 O 56 Granada Gold* Grande Portage* O 182 V 738 Grande Portage Granite Creek V 115 Graphite Egy* O 168 Graphite Egy 91 O 1506 Graphite One* Graphite One V 925 Gratomic V 8829 Gratomic* O 225 46 Gray Rock Res V Great Atlantic V 1141 898 Great Bear Res V Great Bear Res* O 135 75 Great Lakes Gr* O Great Lakes Gr V 227 X 2712 Great Panther* Great Panther T 566 2 Great Quest Fe* O Great Thunder V 144 V 167 Greatbanks Re Greatbanks Res* O 0 Green Arrow V 7 Green River 78 650 Green Swan Cap V Green Valley M V 155 V 161 Greencastle Rs Greenland M&En* O 1045 V 16 Greenshield Ex Grenville Gold 14 Grid Metals V 146 Grid Metals* O 20 O 268 Grizzly Discvr* Grizzly Discvr V 15 V 1 Grosvenor Res Group Eleven V 107 95 Group Ten Mtls* O Group Ten Mtls V 322 O 382 GrowMax Res* GrowMax Res V 210 V 87 GSP Resource GT Gold V 481 O 40 GT Gold * GTA Res & Mng V 5911 V 2 Guerrero Vents Gungnir Res V 386 Gungnir Res* O 374 Gunpoint Expl V 7 T 1270 Guyana Gldflds Guyana Goldstr V 714 O 27 Guyana Goldstr* Handa Mining V 51 O 6 Handeni Gold* Hannan Metals V 92 O 77 Hannan Metals* Happy Ck Mnrls V 109 V 266 Harfang Explor Harmony Gold* N 12330 Harte Gold* O 70 Harte Gold T 1021 Harvest Gold* O 129 Harvest Gold V 481 V 35 Havilah Mining Havilah Mining* O 21 V 549 Hawkeye Gld&Di Heatherdale Rs V 81 21963 Hecla Mining* N Helio Res V 390

0.45 0.13 0.17 - 0.09 3.60 0.13 0.00 0.00 0.03 unch 0.00 0.07 0.02 0.22 0.20 0.21 unch 0.00 0.49 0.17 0.17 0.15 0.16 + 0.00 0.40 0.14 0.00 0.00 0.05 unch 0.00 0.13 0.05 0.08 0.00 0.08 + 0.01 0.18 0.07 0.13 0.09 0.10 unch 0.00 0.16 0.05 0.09 0.06 0.08 + 0.01 0.11 0.04 0.27 0.22 0.27 + 0.03 0.54 0.15 0.21 0.17 0.21 + 0.03 0.44 0.12 0.03 0.03 0.03 unch 0.00 0.10 0.03 0.15 0.11 0.11 - 0.04 0.40 0.07 0.11 0.10 0.10 - 0.01 0.31 0.06 0.00 0.00 0.01 unch 0.00 0.06 0.01 0.02 0.02 0.02 unch 0.00 0.11 0.01 0.27 0.21 0.22 - 0.05 0.64 0.15 0.31 0.28 0.28 - 0.06 0.78 0.20 0.15 0.13 0.13 + 0.01 0.25 0.11 7.87 7.40 7.86 + 0.29 11.68 6.72 0.35 0.32 0.34 - 0.01 0.45 0.20 0.05 0.04 0.04 - 0.00 0.17 0.03 0.06 0.05 0.06 + 0.01 0.24 0.04 1.30 1.30 1.30 unch 0.00 4.77 1.30 0.18 0.16 0.18 + 0.02 0.66 0.06 0.14 0.11 0.14 + 0.03 0.53 0.04 0.20 0.00 0.20 unch 0.00 0.28 0.16 0.15 0.12 0.12 unch 0.00 0.17 0.12 0.85 0.85 0.85 unch 0.00 140.00 0.55 0.23 0.21 0.23 - 0.00 0.40 0.19 0.32 0.29 0.31 + 0.01 0.51 0.25 0.14 0.12 0.13 - 0.02 0.32 0.07 0.12 0.11 0.11 - 0.01 0.25 0.07 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.23 0.00 0.23 + 0.08 0.38 0.07 0.24 0.24 0.24 unch 0.00 0.42 0.20 0.27 0.25 0.25 - 0.01 0.53 0.19 0.00 0.00 0.00 - 0.00 0.01 0.00 3.87 3.58 3.79 + 0.21 4.54 2.20 0.06 0.06 0.06 - 0.00 1.22 0.04 0.10 0.00 0.09 unch 0.00 1.52 0.06 0.04 0.00 0.04 unch 0.00 0.10 0.01 2.39 2.10 2.35 + 0.20 3.02 1.84 3.20 2.75 3.00 + 0.18 3.87 2.50 4.52 4.20 4.49 + 0.24 7.33 3.61 0.09 0.07 0.09 + 0.02 0.35 0.05 1.67 1.53 1.62 + 0.08 2.46 1.46 1.26 1.14 1.22 + 0.07 2.01 1.08 0.10 0.00 0.10 unch 0.00 0.21 0.07 0.06 0.05 0.06 + 0.00 0.17 0.03 0.07 0.06 0.07 + 0.02 0.22 0.05 14.32 13.42 14.29 + 0.51 18.78 11.00 10.83 10.20 10.80 + 0.43 15.10 8.42 0.33 0.28 0.28 - 0.02 0.70 0.22 0.24 0.21 0.22 - 0.01 0.57 0.17 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.05 0.00 0.05 unch 0.00 0.12 0.03 0.04 0.03 0.03 - 0.01 0.56 0.02 0.03 0.03 0.03 + 0.00 0.31 0.02 0.01 0.01 0.01 unch 0.00 0.05 0.00 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.15 0.00 0.15 unch 0.00 0.20 0.01 0.07 0.06 0.06 unch 0.00 0.11 0.06 0.06 0.04 0.04 - 0.02 0.09 0.04 0.44 0.32 0.44 + 0.05 0.60 0.26 0.34 0.26 0.33 + 0.04 0.48 0.19 0.00 0.00 0.11 unch 0.00 0.21 0.06 0.06 0.05 0.05 + 0.01 0.24 0.05 0.04 0.03 0.04 + 0.01 0.18 0.03 0.11 0.10 0.10 - 0.01 0.54 0.08 1.89 1.75 1.76 - 0.14 4.00 1.40 0.15 0.09 0.11 - 0.01 0.30 0.09 3.43 3.13 3.41 + 0.23 4.15 2.43 4.55 4.17 4.55 + 0.30 5.15 3.24 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.30 0.25 0.30 + 0.02 0.30 0.22 0.22 0.19 0.22 + 0.01 0.25 0.16 0.08 0.08 0.08 unch 0.00 1.96 0.08 0.13 0.10 0.11 - 0.02 2.56 0.08 0.07 0.04 0.07 + 0.03 0.09 0.04 0.05 0.03 0.05 + 0.02 0.07 0.03 0.93 0.83 0.90 + 0.03 1.45 0.71 0.69 0.64 0.67 + 0.01 1.20 0.52 0.15 0.13 0.15 unch 0.00 0.20 0.12 0.18 0.17 0.18 unch 0.00 0.20 0.12 0.25 0.21 0.22 - 0.04 0.32 0.14 0.13 0.11 0.12 + 0.01 0.42 0.09 0.08 0.07 0.07 - 0.01 0.37 0.04 0.06 0.04 0.04 - 0.01 0.30 0.03 0.02 0.02 0.02 + 0.00 0.04 0.02 0.11 0.04 0.09 + 0.04 0.11 0.02 0.15 0.06 0.13 + 0.07 0.15 0.04 0.04 0.03 0.04 unch 0.00 0.12 0.03 0.08 0.00 0.06 + 0.01 0.18 0.04 0.08 0.05 0.06 - 0.02 0.25 0.07 0.15 0.11 0.15 + 0.01 0.40 0.11 0.07 0.06 0.07 unch 0.00 0.33 0.06 0.05 0.05 0.05 unch 0.00 0.21 0.05 0.08 0.07 0.08 + 0.01 0.12 0.05 0.11 0.10 0.10 - 0.00 0.20 0.10 0.14 0.13 0.13 - 0.01 0.26 0.13 0.04 0.04 0.04 unch 0.00 0.13 0.02 0.05 0.04 0.04 unch 0.00 0.20 0.03 0.04 0.04 0.04 - 0.00 0.05 0.02 0.05 0.04 0.05 + 0.01 0.08 0.03 2.70 2.30 2.45 - 0.22 2.74 1.57 3.52 3.05 3.28 - 0.25 3.64 2.01 0.17 0.16 0.16 - 0.01 0.42 0.12 0.12 0.12 0.12 + 0.00 0.33 0.10 0.08 0.07 0.07 - 0.02 0.25 0.07 0.12 0.08 0.09 - 0.03 0.34 0.08 0.17 0.15 0.16 - 0.01 0.23 0.08 0.03 0.02 0.02 + 0.00 1.56 0.01 0.04 0.03 0.03 unch 0.00 1.76 0.02 0.04 0.02 0.03 - 0.00 0.09 0.02 0.04 0.03 0.03 - 0.01 0.12 0.03 0.16 0.12 0.13 - 0.02 0.32 0.08 0.10 0.10 0.10 unch 0.00 0.21 0.07 0.08 0.00 0.08 + 0.02 0.24 0.05 0.07 0.00 0.06 - 0.02 0.15 0.04 2.77 2.50 2.75 + 0.19 3.50 0.42 2.08 1.89 2.06 + 0.11 2.65 0.34 0.03 0.02 0.03 unch 0.00 0.08 0.01 0.04 0.03 0.04 unch 0.00 0.06 0.02 0.70 0.58 0.69 + 0.09 1.41 0.54 0.94 0.78 0.91 + 0.11 1.74 0.70 0.07 0.07 0.07 unch 0.00 0.11 0.05 0.02 0.01 0.01 - 0.01 0.04 0.01 0.12 0.00 0.12 - 0.01 0.60 0.04 0.00 0.00 0.01 unch 0.00 0.02 0.01 0.04 0.04 0.04 unch 0.00 0.10 0.02 0.06 0.00 0.06 + 0.01 0.09 0.03 0.04 0.03 0.03 + 0.01 0.08 0.02 0.07 0.06 0.06 + 0.01 0.50 0.05 0.07 0.06 0.07 - 0.02 0.18 0.05 0.05 0.04 0.05 + 0.00 0.08 0.04 0.12 0.12 0.12 unch 0.00 0.15 0.10 0.38 0.37 0.38 unch 0.00 0.70 0.12 0.10 0.09 0.10 + 0.01 0.41 0.05 0.06 0.06 0.06 unch 0.00 0.33 0.04 0.06 0.06 0.06 unch 0.00 0.11 0.05 0.07 0.00 0.06 - 0.01 0.15 0.05 0.00 0.00 0.12 unch 0.00 0.20 0.12 0.12 0.10 0.12 + 0.01 0.29 0.10 0.13 0.11 0.12 - 0.01 0.23 0.09 0.18 0.16 0.17 - 0.01 0.28 0.12 0.07 0.05 0.06 + 0.00 0.12 0.05 0.09 0.08 0.08 - 0.01 0.16 0.07 0.23 0.19 0.23 + 0.03 0.26 0.19 0.61 0.56 0.59 - 0.01 2.15 0.41 0.46 0.42 0.44 - 0.01 1.62 0.31 0.03 0.02 0.02 unch 0.00 0.06 0.02 0.07 0.00 0.07 unch 0.00 0.30 0.06 0.09 0.08 0.09 unch 0.00 0.39 0.07 0.07 0.06 0.07 + 0.00 0.29 0.05 0.40 0.38 0.38 unch 0.00 0.55 0.16 1.68 1.58 1.67 unch 0.00 5.42 1.24 0.25 0.19 0.20 - 0.04 0.39 0.19 0.20 0.14 0.15 - 0.04 0.28 0.14 0.05 0.05 0.05 unch 0.00 0.09 0.03 0.02 0.02 0.02 unch 0.00 0.13 0.02 0.09 0.07 0.09 + 0.01 0.31 0.05 0.07 0.05 0.06 - 0.01 0.25 0.04 0.16 0.14 0.15 - 0.01 0.23 0.13 0.23 0.20 0.23 + 0.03 0.34 0.18 1.85 1.69 1.78 + 0.09 2.53 1.43 0.31 0.28 0.30 unch 0.00 0.39 0.22 0.40 0.38 0.39 - 0.02 0.55 0.29 0.05 0.03 0.04 + 0.00 0.08 0.03 0.06 0.05 0.05 - 0.01 0.10 0.04 0.30 0.00 0.30 + 0.02 0.69 0.25 0.22 0.20 0.22 + 0.01 0.35 0.18 0.04 0.04 0.04 unch 0.00 0.11 0.04 0.02 0.02 0.02 - 0.01 0.06 0.02 2.53 2.30 2.49 + 0.08 4.43 2.17 0.08 0.08 0.08 unch 0.00 0.38 0.06

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Helio Res* O 1 Hemcare Health* O 91 Heron Res* O 3 Highbank Res V 278 Highland Copp V 338 Highland Copp* O 418 Highway 50 Gld V 53 HiHo Silver 223 HiHo Silver* O 133 Hinterland Mtl V 25 Hochschild Mg* O 3 O 165 Homeland Egy* Honey Badger E* O 2 89 Honey Badger E V Horizonte Mnls T 885 Hornby Bay Mnl* O 13 Hornby Bay Mnl V 27 HudBay Min* N 3504 HudBay Min T 5708 Hudson Res V 1777 Hudson Res* O 82 Hunt Mng* O 8 Hunt Mng V 125 Hut 8 Mining* O 12 Hut 8 Mining V 24 V 231 Hybrid Mineral Hycroft Mg* O 0

0.05 0.05 0.05 unch 0.00 0.25 0.04 1.24 0.72 1.07 - 0.09 1.38 0.05 0.45 0.45 0.45 unch 0.00 0.60 0.35 0.02 0.01 0.02 unch 0.00 0.05 0.01 0.10 0.09 0.10 + 0.02 0.16 0.06 0.08 0.06 0.07 + 0.01 0.13 0.04 0.19 0.17 0.17 - 0.02 0.48 0.15 0.03 0.03 0.03 - 0.01 0.14 0.03 0.02 0.02 0.02 - 0.00 0.07 0.02 0.03 0.03 0.03 unch 0.00 0.05 0.02 2.09 0.00 2.09 - 0.08 3.31 1.96 2.65 2.25 2.50 - 0.14 3.05 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 0.04 0.04 0.04 unch 0.00 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 5.80 5.40 5.75 + 0.09 9.60 3.44 7.66 7.21 7.60 + 0.10 11.83 4.51 0.47 0.39 0.47 + 0.02 0.60 0.35 0.35 0.33 0.34 + 0.00 0.46 0.27 0.12 0.12 0.12 unch 0.00 0.40 0.09 0.18 0.16 0.16 unch 0.00 0.50 0.10 1.45 0.00 1.30 - 0.15 3.74 0.85 1.96 1.70 1.89 - 0.07 5.00 1.06 0.08 0.06 0.08 + 0.02 0.55 0.06 0.00 0.00 0.02 unch 0.00 0.13 0.01

I-Minerals V 55 I-Minerals* O 6 IAMGOLD* N 30174 IAMGOLD T 7070 Iconic Mnls * O 129 Iconic Mnls V 218 IDM Mining* O 258 IDM Mining V 8263 IEMR Res V 14 iMetal Res V 386 V 645 IMPACT Silver Imperial Metal T 81 O 1 Imperial Metal* Imperial Mg Gr V 126 Inca One Gold* O 32 Inca One Gold V 1497 Inception Mng * O 28 Independence G* O 5 Independence G V 249 Indico Res V 70 Infinite Lith V 60 Infinite Lith* O 24 Inform Res V 25 Infrastructure* O 1550 Inomin Mines V 6 O 0 Inspiration Mg* Intact Gold V 70 Integra Res* O 102 Integra Res V 693 Intercontinent* O 0 Intercontinent V 0 Intgr Egy Sol* O 4 Intl Battery* O 104 Intl Battery 139 Intl Bethl Mng V 16 Intl Cobalt* O 451 Intl Cobalt 588 Intl Lithium* O 104 Intl Lithium V 165 Intl Montoro V 122 11 Intl Prospect * O Intl Prospect V 19 Intl Samuel Ex V 505 Intl Star* O 9547 Intl Tower Hil* X 438 68 Intl Tower Hil T Intl Zeolite V 330 Intl Zeolite* O 2 Intrepid Pots* N 1741 INV Metals* O 34 INV Metals T 79 Inventus Mg V 75 Inventus Mg * O 9 InZinc Mining* O 200 InZinc Mining V 782 Ireland* O 33 Irving Res 247 Irving Res* O 58 IsoEnergy Ltd V 93 Itafos* O 32 V 143 Itafos Itoco Inc* O 2 Ivanhoe Mines* O 618 Ivanhoe Mines T 2440 Jade Leader* O 166 Jade Leader V 151 Jaeger Res V 70 Jaguar Mng T 465 Jaguar Mng* O 139 Japan Gold V 523 Japan Gold* O 124 Jasper Mining V 4 Jaxon Mining* O 130 Jaxon Mining V 298 Jayden Res* O 3 Jayden Res V 5791 Jazz Res V 608 Jiulian Res V 913 Jourdan Res V 657 O 28 Jubilee Metals* Juggernaut Exp* O 150 Juggernaut Exp V 1462 K2 Gold V 104 K92 Mining* O 349 K92 Mining V 1774 Kaizen Discov V 95 Kaizen Discvry* O 13 Kapuskasing Gd V 1 Karmin Expl V 36 Karnalyte Res T 51 Karoo Expl V 80 KAT Expl* O 204205 Katanga Mng T 813 V 261 Kenadyr Mining Kenadyr Mining* O 22 Kermode Res V 102 Kerr Mines* O 29 Kerr Mines T 112 Kesselrun Res V 225 O 8 Kesselrun Res* Kestrel Gold V 160 Khan Res 300 Kilo Goldmines* O 50 Kilo Goldmines V 527 Kincora Copper* O 2 Kincora Copper V 34 Kings Bay Res V 221 Kingsmen Res V 12 Kingsmen Res* O 0 Kinross Gold T 16576 Kinross Gold* N 52834 Kintavar Exp V 538 Kirkland Lake* N 5033 Kirkland Lake T 2845 Klondike Gold* O 147 Klondike Gold V 868 Klondike Silv* O 161 Klondike Silv V 538 Knick Expl * O 1200 Knick Expl V 759 Kombat Copper V 193 Komet Resource V 209 Kootenay Silvr* O 231 Kootenay Silvr V 234 Kootenay Zinc 43 Kootenay Zinc* O 20 Kore Mining * O 1 Kore Mining V 351 Kutcho Copper * O 163 KWG Res* O 932 KWG Res 501

0.11 0.09 0.09 - 0.02 0.35 0.09 0.09 0.09 0.09 - 0.00 0.28 0.07 3.10 2.80 3.09 + 0.26 6.41 2.75 4.11 3.70 4.07 + 0.30 8.20 3.64 0.12 0.10 0.10 - 0.02 0.16 0.06 0.17 0.14 0.15 - 0.01 0.21 0.08 0.05 0.04 0.05 - 0.00 0.09 0.03 0.06 0.06 0.06 unch 0.00 0.11 0.04 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.10 0.09 0.10 unch 0.00 0.15 0.07 0.30 0.23 0.30 + 0.02 0.56 0.20 1.82 1.68 1.75 - 0.02 2.86 0.93 1.31 1.24 1.31 + 0.08 2.25 0.72 0.09 0.09 0.09 - 0.01 0.16 0.05 0.04 0.03 0.04 - 0.00 0.09 0.02 0.05 0.05 0.05 unch 0.00 0.11 0.04 0.19 0.00 0.11 - 0.08 0.33 0.00 0.04 0.04 0.04 unch 0.00 0.10 0.03 0.08 0.07 0.08 + 0.01 0.14 0.04 0.01 0.01 0.01 - 0.01 0.03 0.01 0.10 0.08 0.08 - 0.02 0.31 0.07 0.08 0.05 0.06 - 0.02 0.21 0.05 0.07 0.07 0.07 unch 0.00 0.25 0.06 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.04 0.03 0.03 - 0.01 0.20 0.03 0.00 0.00 0.02 unch 0.00 0.14 0.02 0.08 0.00 0.07 - 0.01 1.18 0.06 0.68 0.59 0.63 - 0.05 1.83 0.44 0.90 0.78 0.82 - 0.05 1.40 0.61 0.00 0.00 0.24 unch 0.00 0.47 0.12 0.00 0.00 0.22 unch 0.00 0.65 0.14 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.15 0.13 0.13 - 0.03 0.69 0.10 0.20 0.17 0.18 - 0.01 0.89 0.13 0.05 0.00 0.04 unch 0.00 0.13 0.03 0.04 0.03 0.04 + 0.01 0.26 0.02 0.05 0.04 0.05 + 0.01 0.35 0.03 0.05 0.03 0.03 - 0.01 0.15 0.02 0.06 0.05 0.05 - 0.01 0.19 0.03 0.05 0.04 0.05 unch 0.00 0.08 0.04 0.10 0.00 0.10 unch 0.00 0.25 0.10 0.16 0.00 0.15 - 0.01 0.38 0.12 0.04 0.04 0.04 unch 0.00 0.20 0.03 0.00 0.00 0.00 + 0.00 0.00 0.00 0.58 0.49 0.57 + 0.05 0.78 0.35 0.75 0.62 0.75 + 0.07 0.99 0.48 0.12 0.10 0.10 - 0.03 0.47 0.05 0.09 0.09 0.09 unch 0.00 0.36 0.01 3.25 3.03 3.11 - 0.08 5.31 2.51 0.58 0.54 0.57 - 0.01 0.58 0.26 0.78 0.71 0.78 + 0.06 0.80 0.35 0.13 0.12 0.13 unch 0.00 0.26 0.11 0.10 0.10 0.10 + 0.00 0.20 0.08 0.04 0.04 0.04 + 0.00 0.19 0.03 0.05 0.04 0.05 - 0.01 0.24 0.04 0.07 0.00 0.07 unch 0.00 0.19 0.03 1.80 1.62 1.74 + 0.05 1.94 0.83 1.37 1.23 1.33 + 0.06 1.46 0.66 0.53 0.45 0.48 - 0.07 0.57 0.28 0.66 0.00 0.66 - 0.07 2.25 0.65 0.93 0.81 0.81 - 0.03 2.90 0.84 0.07 0.00 0.07 unch 0.00 0.36 0.02 1.84 1.65 1.83 + 0.08 3.55 1.50 2.44 2.24 2.43 + 0.09 4.29 2.00 0.20 0.16 0.19 + 0.04 0.38 0.13 0.26 0.22 0.25 + 0.04 0.50 0.19 0.02 0.02 0.02 - 0.01 0.05 0.02 0.22 0.19 0.21 - 0.01 0.41 0.18 0.17 0.15 0.16 - 0.01 0.33 0.13 0.23 0.19 0.20 + 0.02 0.32 0.07 0.15 0.14 0.14 - 0.00 0.24 0.06 0.09 0.09 0.09 unch 0.00 0.29 0.08 0.06 0.05 0.05 - 0.00 0.24 0.04 0.08 0.06 0.07 - 0.01 0.29 0.05 0.11 0.01 0.01 - 0.10 0.12 0.01 0.17 0.01 0.03 - 0.13 0.20 0.01 0.06 0.05 0.06 + 0.01 0.08 0.03 0.12 0.09 0.10 - 0.01 0.18 0.02 0.05 0.03 0.05 + 0.01 0.13 0.03 0.03 0.03 0.03 + 0.00 0.05 0.03 0.06 0.05 0.06 + 0.01 1.10 0.05 0.08 0.07 0.07 - 0.01 0.59 0.07 0.26 0.23 0.23 - 0.02 0.33 0.16 0.86 0.77 0.83 + 0.06 0.91 0.33 1.15 1.03 1.10 + 0.07 1.20 0.42 0.07 0.06 0.06 - 0.01 0.12 0.05 0.05 0.04 0.04 - 0.01 0.10 0.03 0.00 0.00 0.02 unch 0.00 0.04 0.01 0.73 0.68 0.68 - 0.12 1.10 0.60 0.30 0.25 0.25 - 0.05 0.61 0.17 0.09 0.08 0.09 - 0.01 0.87 0.06 0.00 0.00 0.00 - 0.00 0.00 0.00 0.74 0.65 0.70 + 0.01 2.32 0.36 0.08 0.06 0.08 - 0.01 0.21 0.06 0.05 0.04 0.05 + 0.00 0.16 0.04 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.10 0.08 0.10 + 0.00 0.23 0.07 0.12 0.12 0.12 unch 0.00 0.28 0.11 0.04 0.04 0.04 unch 0.00 0.14 0.03 0.03 0.03 0.03 unch 0.00 0.10 0.03 0.03 0.02 0.02 - 0.01 0.07 0.01 0.06 0.05 0.06 + 0.01 0.16 0.05 0.01 0.01 0.01 + 0.00 0.06 0.01 0.02 0.02 0.02 - 0.01 0.07 0.01 0.08 0.08 0.08 unch 0.00 0.23 0.08 0.10 0.10 0.10 unch 0.00 0.29 0.09 0.04 0.03 0.04 - 0.01 0.13 0.03 0.38 0.34 0.34 - 0.02 0.45 0.14 0.00 0.00 0.26 unch 0.00 0.33 0.11 4.35 4.05 4.28 + 0.16 5.71 3.15 3.29 3.08 3.23 + 0.13 4.65 2.38 0.27 0.25 0.26 unch 0.00 0.65 0.11 29.24 26.28 29.23 + 2.89 28.58 13.09 38.67 34.43 38.66 + 3.72 38.15 16.54 0.15 0.12 0.14 - 0.00 0.34 0.10 0.19 0.17 0.19 + 0.01 0.44 0.17 0.04 0.03 0.04 + 0.01 0.08 0.03 0.05 0.04 0.04 - 0.01 0.10 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.01 0.01 0.01 - 0.01 0.03 0.01 0.06 0.05 0.05 - 0.01 0.33 0.05 0.16 0.15 0.15 - 0.01 0.48 0.14 0.11 0.10 0.11 + 0.00 0.18 0.08 0.15 0.13 0.15 + 0.02 0.23 0.11 0.12 0.00 0.12 + 0.04 0.76 0.05 0.11 0.05 0.09 + 0.03 0.43 0.03 0.12 0.12 0.12 unch 0.00 0.12 0.02 0.20 0.15 0.19 + 0.04 3.50 0.08 0.27 0.24 0.27 + 0.02 0.76 0.14 0.01 0.01 0.01 - 0.00 0.02 0.00 0.01 0.01 0.01 unch 0.00 0.02 0.01

Labdr Iron Mns* O 165 Labrador Gold V 723 Labrador Gold* O 50 Labrador Iron T 1424 Lara Expl V 67 Laramide Res T 588 Laredo Res* O 2241 Largo Res T 3920 Largo Res* O 2143 Lateral Gold V 36 Latin Am Mnls V 6578 Latin Am Mnls* O 61

0.01 0.00 0.01 + 0.01 0.11 0.00 0.24 0.21 0.23 - 0.01 0.35 0.14 0.17 0.17 0.17 unch 0.00 0.21 0.11 25.23 22.25 25.11 + 0.63 31.36 20.44 0.43 0.42 0.43 - 0.01 0.84 0.41 0.40 0.37 0.40 + 0.01 0.52 0.24 0.01 0.00 0.01 + 0.00 0.05 0.00 3.06 2.67 2.72 - 0.35 4.65 1.06 2.32 2.02 2.06 - 0.24 3.56 0.84 0.36 0.30 0.33 + 0.03 0.89 0.25 0.03 0.02 0.02 - 0.01 0.13 0.01 0.01 0.01 0.01 + 0.00 0.10 0.01

I-J-K

L

(100s) Stock

Week

21

12-month

Exc Volume High Low Last Change High Low

Laurion Mnl Ex V 127 Le Mare Gold* O 11 Le Mare Gold V 53 LeadFX Inc* O 7 Leading Edge* O 480 Leading Edge V 665 Leagold Mg T 489 Leagold Mg* O 399 Leeta Gold V 2502 Leo Res* O 4 Lepanto Con Mg* O 50 441 Levon Res Ltd T Levon Res Ltd * O 120 V 28 Libero Copper Liberty Gold* O 2046 Liberty One Li V 103 Liberty One Li* O 365 LiCo Energy* O 36 LiCo Energy V 147 Lincoln Mng V 180 Lion One Mtls V 74 Lion One Mtls* O 140 Lions Bay Cap V 180 Lions Bay Mg 19 Lions Bay Mg * O 1 O 0 Lithion Energy* N 518 Lithium Amer* Lithium Amer T 388 Lithium Chile V 69 Lithium Chile* O 41 Lithium Corp* O 447 O 8 Lithium Energi* Lithium Energi V 63 V 83 Lithium Energy Lithium Expl* O 5855 Lithoquest Dia V 251 Lithoquest Dia* O 20 LKA Gold* O 4 Lomiko Mtls* O 17 Lomiko Mtls V 121 Loncor Res* O 1 Loncor Res T 63 Lone Star Gold* O 150 Lonmin plc* O 17 Lorraine Coppr* O 50 V 267 Lorraine Coppr Los Andes Copp V 184 LSC Lithium* O 41 Lucara Diam T 1176 Lucky Mnls V 467 Lucky Mnls * O 89 Luckystrike V 102 Luckystrike * O 0 Lumina Gold* O 25 Lumina Gold V 172 Luminex Res V 53 Lundin Gold T 90 Lundin Mng T 13824 Lupaka Gold V 206 Lydian Intl* O 130 Lydian Intl T 732 Lynas Corp* O 50 Lynas Corp* O 68

0.10 0.09 0.10 unch 0.00 0.11 0.04 0.06 0.05 0.05 - 0.01 0.31 0.00 0.09 0.07 0.07 + 0.02 0.39 0.06 0.70 0.69 0.70 unch 0.00 1.57 0.65 0.16 0.12 0.13 - 0.03 0.64 0.11 0.21 0.15 0.15 - 0.05 0.88 0.15 2.08 1.90 2.08 + 0.10 3.17 1.28 1.57 1.46 1.57 + 0.07 2.63 0.95 0.40 0.37 0.38 unch 0.00 3.15 0.24 0.09 0.08 0.08 - 0.00 0.60 0.01 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.14 0.13 0.13 - 0.01 0.39 0.12 0.11 0.10 0.10 - 0.00 0.32 0.09 0.07 0.07 0.07 unch 0.00 0.15 0.07 0.29 0.22 0.29 + 0.06 0.37 0.21 0.14 0.11 0.13 - 0.01 0.80 0.07 0.10 0.08 0.08 - 0.01 0.62 0.04 0.09 0.00 0.08 + 0.00 0.18 0.01 0.12 0.11 0.12 + 0.02 1.90 0.07 0.02 0.02 0.02 + 0.01 0.04 0.01 0.43 0.36 0.43 + 0.06 0.76 0.35 0.32 0.24 0.32 + 0.05 0.62 0.24 0.05 0.05 0.05 unch 0.00 0.14 0.04 0.20 0.00 0.13 - 0.02 0.20 0.11 0.09 0.00 0.09 - 0.03 0.12 0.08 0.04 0.04 0.04 unch 0.00 0.11 0.02 3.40 3.00 3.15 - 0.10 8.14 2.75 4.48 4.00 4.18 - 0.13 9.88 3.74 0.54 0.52 0.52 - 0.02 1.11 0.50 0.41 0.38 0.39 - 0.01 0.97 0.34 0.13 0.11 0.13 + 0.00 0.50 0.10 0.17 0.17 0.17 - 0.00 0.53 0.11 0.22 0.00 0.20 - 0.01 0.65 0.15 0.12 0.00 0.10 - 0.02 1.20 0.09 0.02 0.01 0.01 - 0.00 0.06 0.00 0.11 0.08 0.10 - 0.01 0.88 0.08 0.06 0.06 0.06 unch 0.00 0.51 0.06 0.15 0.11 0.11 - 0.04 0.43 0.05 0.05 0.03 0.03 - 0.02 0.17 0.02 0.05 0.05 0.05 unch 0.00 0.22 0.04 0.06 0.06 0.06 unch 0.00 0.09 0.04 0.09 0.00 0.08 - 0.01 0.14 0.06 0.01 0.00 0.00 - 0.00 0.03 0.00 0.68 0.63 0.68 + 0.03 1.22 0.45 0.10 0.10 0.10 unch 0.00 0.12 0.01 0.14 0.13 0.14 + 0.02 0.17 0.07 0.24 0.24 0.24 unch 0.00 0.35 0.15 0.49 0.48 0.48 - 0.01 1.18 0.24 1.60 1.54 1.57 + 0.01 2.68 1.38 0.14 0.13 0.13 - 0.01 0.21 0.09 0.12 0.11 0.11 - 0.00 0.16 0.06 0.17 0.13 0.16 + 0.02 0.55 0.13 0.00 0.00 0.12 unch 0.00 0.35 0.11 0.42 0.39 0.40 + 0.01 0.67 0.35 0.55 0.51 0.54 + 0.01 0.85 0.46 0.68 0.00 0.61 - 0.07 1.05 0.51 4.85 4.71 4.85 + 0.07 5.52 4.33 5.95 5.46 5.85 - 0.11 9.21 4.70 0.10 0.08 0.10 - 0.01 0.29 0.09 0.14 0.11 0.13 + 0.02 0.48 0.05 0.20 0.16 0.18 + 0.02 0.59 0.07 1.18 1.06 1.11 - 0.06 2.20 1.05 1.20 1.08 1.10 - 0.09 2.20 1.06

M M.P.V. Explor 48 0.12 0.10 0.12 + 0.02 0.30 0.06 M2 Cobalt* O 3 0.20 0.17 0.20 + 0.02 0.61 0.12 Macarthur Mnl V 3157 0.04 0.03 0.04 + 0.01 0.07 0.02 Macarthur Mnl* O 81 0.03 0.02 0.03 + 0.00 0.06 0.01 MacDonald Mns* O 20 0.03 0.02 0.02 - 0.00 0.08 0.02 V 4567 0.04 0.03 0.03 unch 0.00 0.10 0.03 MacDonald Mns MAG Silver T 736 11.06 9.66 11.04 + 1.17 15.59 8.10 Magellan Gold* O 19 2.03 1.60 2.00 + 0.30 2.03 0.60 Magna Terra V 77 0.05 0.04 0.05 + 0.01 0.06 0.03 Majestic Gold* O 7 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.05 Majestic Gold V 135 0.08 0.06 0.06 - 0.02 0.11 Makena Res 388 0.05 0.05 0.05 - 0.01 0.19 0.04 Mako Mining V 957 0.17 0.16 0.16 - 0.01 0.29 0.13 Mako Mining* O 103 0.13 0.12 0.13 + 0.01 0.23 0.10 Mammoth Res V 37 0.05 0.04 0.05 + 0.01 0.13 0.03 unch 0.00 0.15 0.04 Manado Gold V 54 0.05 0.05 0.05 Mandalay Res T 3479 0.15 0.11 0.14 + 0.03 0.30 0.05 Mandalay Res* O 522 0.11 0.08 0.10 + 0.03 0.24 0.03 Manganese X* O 41 0.09 0.09 0.09 - 0.00 0.21 0.07 Manganese X V 69 0.11 0.10 0.10 - 0.01 0.28 0.09 Mangazeya Mng V 158 0.05 0.04 0.05 + 0.01 0.05 0.02 Mangazeya Mng* O 1002 0.03 0.03 0.03 unch 0.00 0.03 0.01 Manitou Gold V 841 0.04 0.04 0.04 - 0.01 0.16 0.04 Manitou Gold * O 335 0.04 0.04 0.04 unch 0.00 0.11 0.03 Maple Gold V 560 0.12 0.10 0.12 + 0.01 0.33 0.09 0.06 Maple Gold* O 355 0.09 0.07 0.09 + 0.01 0.26 Marathon Gold* O 230 0.69 0.62 0.68 + 0.04 0.96 0.49 Marathon Gold T 413 0.91 0.83 0.90 + 0.06 1.20 0.65 Margaret Lake V 160 0.04 0.04 0.04 unch 0.00 0.16 0.02 Margaux Res V 1055 0.06 0.03 0.06 + 0.02 0.34 0.03 0.01 Marifil Mines* O 15 0.05 0.04 0.05 + 0.00 0.17 Marifil Mines V 111 0.07 0.07 0.07 unch 0.00 0.24 0.06 Maritime Res V 257 0.10 0.09 0.10 + 0.01 0.14 0.07 MartinMarietta* N 3413 183.44 171.84 175.70 - 4.77 241.33 150.75 Mas Gold V 50 0.09 0.09 0.09 unch 0.00 0.12 0.04 O 249 0.42 0.36 0.37 - 0.03 2.00 0.32 Mason Graphite* Mason Graphite V 904 0.57 0.48 0.49 - 0.06 2.43 0.44 Matachewan Con V 0 0.00 0.00 0.24 unch 0.00 0.30 0.15 Matica Ent 14151 0.17 0.12 0.13 + 0.01 0.64 0.07 0.04 Matica Ent* O 256 0.12 0.08 0.09 + 0.01 0.52 V 36 2.60 2.25 2.28 - 0.05 2.85 1.33 Maverix Metals Maverix Metals* O 8 1.84 1.71 1.75 unch 0.00 2.10 1.03 0.19 Mawson Res T 13 0.25 0.22 0.25 + 0.04 0.63 Mawson Res* O 18 0.18 0.17 0.18 + 0.01 0.48 0.13 MaxTech Vent* O 44 0.11 0.09 0.09 - 0.01 0.48 0.07 MaxTech Vent 36 0.15 0.13 0.13 - 0.01 0.60 0.10 unch 0.00 0.01 0.00 Maxwell Res* O 4 0.00 0.00 0.00 Maya Gold &Sil T 47 1.90 1.70 1.90 + 0.18 3.02 1.58 Maya Gold &Sil* O 16 1.43 1.28 1.41 + 0.06 2.35 1.20 Mazarin V 170 0.10 0.08 0.10 unch 0.00 0.18 0.04 0.01 MBMI Res* O 41 0.03 0.02 0.03 + 0.01 1.00 MBMI Res V 6 0.03 0.03 0.03 unch 0.00 0.13 0.02 McChip Res V 6 0.85 0.75 0.75 unch 0.00 0.90 0.50 McEwen Mng T 596 2.31 2.16 2.28 + 0.06 3.28 2.16 McEwen Mng* N 9303 1.74 1.62 1.72 + 0.05 2.53 1.62 McLaren Res 435 0.04 0.03 0.03 - 0.01 0.14 0.02 MDN Inc* O 2 0.15 0.15 0.15 unch 0.00 0.28 0.13 Meadow Bay Gd 122 0.04 0.04 0.04 unch 0.00 0.26 0.03 3 0.03 0.02 0.03 + 0.00 0.28 0.02 Meadow Bay Gd* O Mechel* N 267 2.54 2.32 2.47 + 0.14 5.40 1.95 V 357 0.12 0.10 0.10 - 0.02 0.18 0.08 Medallion Res Medallion Res* O 40 0.09 0.07 0.07 - 0.01 0.14 0.06 0.12 Medgold Res V 47 0.14 0.13 0.14 + 0.01 0.51 Medgold Res* O 28 0.11 0.11 0.11 - 0.00 0.38 0.09 O 3630 0.00 0.00 0.00 - 0.00 0.01 0.00 Medinah Mnrls* Mega Copper V 2 0.16 0.16 0.16 unch 0.00 0.18 0.16 Mega Uranium* O 56 0.09 0.08 0.08 - 0.00 0.17 0.07 Mega Uranium T 524 0.12 0.11 0.12 + 0.01 0.21 0.11 Megastar Dev V 38 0.08 0.06 0.08 unch 0.00 0.11 0.04 MegumaGold* O 5 0.13 0.10 0.10 - 0.03 0.21 0.09 MegumaGold 5 0.15 0.14 0.14 - 0.01 0.30 0.12 Melior Res V 26 0.60 0.54 0.55 unch 0.00 1.45 0.54 Melior Res* O 17 0.48 0.43 0.48 unch 0.00 0.62 0.07 Melkior Res V 476 0.11 0.09 0.09 - 0.02 0.13 0.04 Merger Mines* O 0 0.00 0.00 25.00 unch 0.00 Meridian Mg * O 1 0.08 0.08 0.08 unch 0.00 0.47 0.07 0.05 Meridian Mg V 34 0.12 0.11 0.12 + 0.01 0.60 Meridius Res V 15 0.21 0.21 0.21 unch 0.00 0.21 0.18 O 2 0.01 0.01 0.01 unch 0.00 0.03 0.01 Meryllion Res* Meryllion Res 116 0.02 0.02 0.02 + 0.01 0.08 0.02 0.01 MetalCorp V 165 0.02 0.02 0.02 + 0.01 0.03 Metalex Vent V 181 0.04 0.03 0.03 - 0.01 0.06 0.02 Metalla Rylty* O 798 0.65 0.59 0.63 + 0.03 0.71 0.48 Metalla Rylty V 1215 0.86 0.78 0.84 + 0.04 0.88 0.62 Metallic Mnrls V 72 0.18 0.16 0.17 - 0.01 0.47 0.15 Metallic Mnrls* O 29 0.14 0.12 0.13 - 0.01 0.38 0.11 Metallica Min* O 1 0.02 0.02 0.02 unch 0.00 0.05 0.02 Metallis Res V 211 0.46 0.41 0.46 + 0.03 1.53 0.39 Metalo Manuf 4 0.35 0.32 0.32 - 0.03 0.57 0.15 Metalore Res* O 3 1.51 1.50 1.50 unch 0.00 2.19 1.23 Metalore Res V 3 2.01 1.85 1.85 unch 0.00 3.00 1.40 Metals Creek* O 57 0.05 0.03 0.05 + 0.01 0.08 0.02 Metals Creek V 820 0.06 0.05 0.06 + 0.01 0.11 0.04 Metals X* O 667 0.31 0.00 0.28 - 0.03 0.82 0.27 Mexican Gold* O 12 0.17 0.15 0.15 unch 0.00 0.34 0.10 Mexivada Mng* O 40 0.00 0.00 0.00 unch 0.00 0.00 0.00 Mexus Gold* O 3353 0.01 0.01 0.01 - 0.00 0.06 0.01 MGX Minerals* O 475 0.34 0.29 0.32 - 0.01 1.45 0.22 MGX Minerals 1091 0.45 0.40 0.41 - 0.02 1.80 0.30 Midas Gold T 624 0.98 0.91 0.98 + 0.06 1.21 0.60 Midas Gold* O 1134 0.75 0.69 0.74 + 0.05 0.95 0.46 Midasco Cap V 18 0.10 0.10 0.10 unch 0.00 0.15 0.07 Midland Expl V 82 1.00 0.88 0.94 - 0.02 1.41 0.66 Midnight Star 95 0.22 0.00 0.22 + 0.04 0.40 0.11 Midnight Sun V 1892 0.16 0.12 0.15 + 0.01 0.48 0.10 Millennial Lit* O 74 1.58 1.04 1.58 + 0.51 3.86 0.67 Millennial Lit V 909 2.12 1.39 2.08 + 0.65 4.71 1.04 Millrock Res* O 227 0.09 0.07 0.08 - 0.01 0.31 0.05 Millrock Res V 254 0.12 0.10 0.11 + 0.01 0.40 0.08 Milner Con Slv V 100 0.05 0.05 0.05 unch 0.00 0.11 0.03

2019-01-28 2:47 PM

22

WWW.NORTHERNMINER.COM

FEBRUARY 4–17, 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

Minaurum Gold V 394 Minaurum Gold* O 312 Minco Silver* O 99 Minco Silver T 126 Minera Alamos * O 110 Minera Alamos V 1315 Minera IRL 500 Mineral Hill V 0 Mineral Mtn* O 105 Mineral Mtn V 300 Mineral Res* O 1 MineralRite* O 800 Mineworx Tech V 395 Mineworx Tech* O 193 Minfocus Expl* O 5 Minfocus Expl V 150 Mining Global* O 10950 Minnova Corp V 31 Miramont Res* O 162 Miramont Res 810 Miranda Gold V 1129 Mirasol Res V 198 Mistango River 8 Mkango Res V 160 ML Gold* O 50 ML Gold Corp V 1380 Monarca Mnrls* O 10 V 78 Monarca Mnrls Monarques Res T 232 O 102 Monarques Res* Moneta Porcpn T 990 O 1310 Moneta Porcpn* Monitor Vent* O 0 Monitor Vent V 1 Monster Uran V 8 O 64 Montego Res* Montego Res 105 V 10 Montero Mg&Ex Monument Mng V 572 Morien Res* O 5 Morien Res V 89 N 17386 Mosaic* Mountain Boy V 35 Mountain Prov T 1043 Mountain Prov* D 287 O 22 Mundoro Cap* Mundoro Cap V 92 V 27 Murchison Min MX Gold* O 32

0.53 0.48 0.50 + 0.02 0.67 0.40 0.41 0.36 0.39 + 0.03 0.52 0.31 0.43 0.34 0.42 + 0.02 0.63 0.24 0.57 0.45 0.54 + 0.02 0.79 0.35 0.08 0.00 0.08 - 0.01 0.15 0.06 0.10 0.10 0.10 unch 0.00 0.18 0.09 0.06 0.06 0.06 unch 0.00 0.12 0.05 0.00 0.00 0.15 unch 0.00 0.27 0.09 0.10 0.08 0.10 + 0.00 0.60 0.05 0.14 0.12 0.12 - 0.01 0.74 0.07 11.45 11.45 11.45 unch 0.00 15.10 9.85 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.14 0.13 0.13 unch 0.00 0.35 0.11 0.10 0.09 0.10 - 0.00 0.27 0.08 0.03 0.00 0.03 unch 0.00 0.04 0.03 0.05 0.05 0.05 unch 0.00 0.32 0.03 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.62 0.51 0.55 - 0.01 0.93 0.43 0.27 0.25 0.27 + 0.01 0.35 0.12 0.38 0.32 0.35 + 0.01 0.54 0.13 0.03 0.02 0.03 unch 0.00 0.06 0.01 1.20 1.04 1.20 + 0.18 2.60 0.97 0.03 0.03 0.03 unch 0.00 0.07 0.01 0.17 0.15 0.15 - 0.01 0.19 0.10 0.02 0.02 0.02 unch 0.00 0.22 0.01 0.03 0.02 0.03 unch 0.00 0.28 0.02 0.03 0.03 0.03 unch 0.00 0.08 0.01 0.04 0.03 0.04 + 0.01 0.10 0.02 0.22 0.20 0.20 - 0.01 0.41 0.15 0.17 0.14 0.16 + 0.00 0.33 0.11 0.13 0.10 0.12 + 0.01 0.18 0.07 0.10 0.08 0.09 + 0.00 0.14 0.06 0.23 0.00 0.23 + 0.07 0.80 0.12 0.00 0.00 0.24 unch 0.00 0.98 0.16 0.15 0.15 0.15 unch 0.00 0.48 0.13 0.05 0.04 0.04 - 0.01 0.32 0.05 0.06 0.05 0.05 - 0.01 0.45 0.04 0.10 0.10 0.10 unch 0.00 0.34 0.07 0.06 0.06 0.06 unch 0.00 0.09 0.05 0.36 0.36 0.36 unch 0.00 0.56 0.30 0.54 0.50 0.50 unch 0.00 0.68 0.42 32.56 30.54 31.89 - 0.31 37.37 22.90 0.22 0.20 0.22 unch 0.00 0.43 0.15 1.67 1.42 1.56 - 0.06 3.72 1.42 1.26 1.08 1.15 - 0.04 2.92 1.08 0.16 0.15 0.15 - 0.01 0.17 0.06 0.22 0.21 0.22 unch 0.00 0.25 0.09 0.09 0.00 0.09 unch 0.00 0.25 0.06 0.01 0.00 0.00 - 0.00 0.09 0.00

NA Frac Sand* O 271 NACCO Ind* N 64 Namibia Crit V 65 Namibia Crit* O 44 Napier Vent V 8 Napier Vent* O 3 57 Natural Res Pt* N Nautilus Mnrls T 654 O 416 Nautilus Mnrls* Navy Res V 8 Nemaska Lith T 4808 Nemaska Lith* O 600 Neo Lithium V 441 Neometals* O 48 Network Expl* O 5 Network Expl V 122 O 50 Nevada Canyon* Nevada Clean M* O 893 712 Nevada Clean M V Nevada Copper T 568 O 3 Nevada Energy* Nevada Energy V 207 Nevada Expl * O 166 Nevada Expl V 307 Nevada Sunrise* O 67 Nevada Sunrise V 91 Nevada Zinc V 104 Nevado Res V 0 Nevsun Res* X 485 Nevsun Res T 564 New Age Metals* O 132 New Age Metals V 613 New Carolin Gd* O 113 New Carolin Gd V 528 New Destiny Mg V 403 New Dimen Res V 43 25 New Egy Min* O New Energy Met V 76 14265 New Gold* X New Gold T 4704 New Guinea Gld* O 152 New Jersey Mng* O 686 New Milln Iron* O 215 New Milln Iron T 407 New Nadina V 118 New Oroperu V 22 New Pac Metals V 385 New Pac Metals* O 11 New Point Expl 7479 New Tech Lith 258 New Tech Lith* O 3 New World Res V 146 Newlox Gold 501 O 1 Newmac Res* Newmont Mng* N 41679 Newport Expl V 193 NewRange Gold* O 35 NewRange Gold V 296 Nexa Resources T 16 Nexa Resources* N 682 Nexco Res 50 Nexgen Energy* X 1266 Nexgen Energy T 8708 T 888 NextSource Mat Nexus Gold* O 71 Nexus Gold V 235 NGEx Res* O 10 NGEx Res T 171 Nickel Creek T 1575 Nickel Creek* O 1986 Nickel North V 14 Nickel One Res* O 50 Nickel One Res V 8146 1 Nicola Mg Inc* O Nicola Mg Inc V 258 T 968 Nighthawk Gold Nighthawk Gold* O 17555 Niobay Metals V 208 Niocan Inc V 121 Niocorp Dev T 195 Niocorp Dev* O 333 Nippon Dragon V 214 Nippon Dragon* O 52 Nitinat Mnls V 146 Noble Metal V 160 Noble Mineral* O 74 Noble Mineral V 1177 Noka Res* O 341 Noram Vent V 162 Noram Vent* O 2 Noranda Alum* O 15 Nordic Gold* O 35 Nordic Gold V 329 Noront Res V 1167 Norsemont Cap 174 Nortec Mnls* O 83 Nortec Mnls V 92 North Am Nickl V 201 North Am Nickl* O 219 North Am Pall* O 77 North Am Pall T 60 North Arrow Mn* O 9 North Arrow Mn V 103 North Bay Res * O 76041 Northcliff Res T 15 Northern Light 150 Northern Uran V 4 Northisle C&G V 8 Norvista Cap V 205 NorZinc T 468 NorZinc* O 328 Nouveau Monde V 449 Nouveau Monde* O 49 NovaGold Res T 911 NovaGold Res* X 6053 Novo Res* O 356 Novo Res V 814

0.00 0.00 0.00 unch 0.00 0.02 0.00 37.69 35.00 35.80 - 1.41 45.09 28.77 0.17 0.15 0.15 - 0.01 0.46 0.07 0.13 0.11 0.11 - 0.01 2.77 0.07 0.26 0.24 0.26 + 0.02 0.51 0.20 0.19 0.19 0.19 + 0.01 0.40 0.19 38.00 36.63 36.91 - 0.81 39.86 26.55 0.06 0.05 0.06 + 0.01 0.39 0.05 0.05 0.04 0.04 + 0.00 0.31 0.03 0.15 0.15 0.15 unch 0.00 0.32 0.15 0.68 0.62 0.65 + 0.01 1.94 0.56 0.52 0.47 0.49 unch 0.00 1.57 0.39 0.87 0.76 0.80 - 0.05 2.20 0.55 0.22 0.18 0.20 + 0.02 0.80 0.10 0.20 0.20 0.20 unch 0.00 0.35 0.20 0.32 0.25 0.32 + 0.03 0.47 0.23 0.06 0.06 0.06 unch 0.00 0.11 0.04 0.04 0.03 0.04 + 0.00 0.04 0.02 0.06 0.04 0.05 unch 0.00 0.06 0.03 0.49 0.44 0.48 + 0.01 0.80 0.33 0.09 0.09 0.09 unch 0.00 0.31 0.07 0.13 0.00 0.12 - 0.01 0.40 0.10 0.24 0.18 0.21 + 0.03 0.39 0.09 0.32 0.26 0.27 + 0.01 0.50 0.12 0.09 0.06 0.06 - 0.02 0.18 0.04 0.12 0.09 0.09 - 0.02 0.22 0.06 0.09 0.00 0.09 unch 0.00 0.25 0.09 0.00 0.00 0.12 unch 0.00 0.90 0.09 4.52 4.46 4.51 - 0.01 4.55 2.00 5.98 5.97 5.97 unch 0.00 6.01 2.50 0.06 0.05 0.05 - 0.00 0.12 0.03 0.08 0.07 0.08 unch 0.00 0.15 0.05 0.16 0.13 0.13 - 0.03 0.49 0.09 0.20 0.16 0.18 - 0.04 0.65 0.13 0.24 0.18 0.18 + 0.01 0.35 0.10 0.06 0.00 0.06 unch 0.00 0.30 0.05 0.04 0.04 0.04 unch 0.00 0.05 0.00 0.10 0.09 0.10 + 0.02 0.90 0.05 1.14 0.96 1.13 + 0.17 3.41 0.70 1.51 1.24 1.50 + 0.22 4.19 0.90 0.00 0.00 0.00 + 0.00 0.00 0.00 0.20 0.15 0.18 + 0.01 0.25 0.13 0.04 0.04 0.04 unch 0.00 0.08 0.03 0.07 0.06 0.07 + 0.01 0.11 0.04 0.10 0.08 0.08 + 0.01 0.28 0.05 0.32 0.31 0.31 - 0.01 0.45 0.25 2.00 1.54 1.90 + 0.40 1.91 1.18 1.45 1.12 1.40 + 0.28 1.40 0.86 0.13 0.01 0.11 + 0.10 0.41 0.01 0.03 0.03 0.03 unch 0.00 0.17 0.03 0.03 0.03 0.03 unch 0.00 0.11 0.02 0.19 0.18 0.18 - 0.02 0.30 0.13 0.04 0.03 0.04 + 0.01 0.07 0.03 0.04 0.04 0.04 unch 0.00 0.05 0.04 33.20 31.32 33.16 + 1.39 41.98 29.06 0.25 0.23 0.23 - 0.02 0.38 0.22 0.21 0.15 0.15 - 0.00 0.29 0.04 0.23 0.19 0.20 - 0.02 0.38 0.07 14.01 12.14 12.26 - 1.34 26.70 12.14 10.68 9.08 9.41 - 0.78 21.61 9.08 0.08 0.07 0.07 - 0.01 0.35 0.07 1.82 1.68 1.80 + 0.04 2.53 1.57 2.39 2.23 2.38 + 0.04 3.31 2.12 0.11 0.10 0.11 + 0.01 0.22 0.05 0.10 0.09 0.09 - 0.00 0.29 0.02 0.14 0.12 0.13 - 0.01 0.65 0.08 0.79 0.75 0.79 + 0.04 1.10 0.73 1.01 0.96 1.00 unch 0.00 1.49 0.91 0.09 0.07 0.07 - 0.01 0.35 0.07 0.07 0.05 0.06 - 0.01 0.30 0.04 0.02 0.02 0.02 unch 0.00 0.07 0.02 0.02 0.02 0.02 unch 0.00 0.06 0.01 0.06 0.04 0.05 + 0.01 0.08 0.02 0.09 0.08 0.08 - 0.01 0.16 0.06 0.10 0.10 0.10 - 0.01 0.21 0.09 0.40 0.36 0.38 - 0.01 0.76 0.30 0.29 0.27 0.28 - 0.00 0.63 0.22 0.21 0.17 0.20 + 0.01 0.43 0.16 0.20 0.16 0.16 - 0.04 0.36 0.06 0.63 0.60 0.63 + 0.03 0.76 0.52 0.49 0.45 0.48 + 0.02 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 0.06 0.04 0.05 - 0.01 0.51 0.03 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.07 0.07 0.07 unch 0.00 0.13 0.04 0.13 0.10 0.11 + 0.01 0.17 0.06 0.22 0.20 0.21 - 0.00 0.71 0.18 0.27 0.22 0.26 + 0.01 0.60 0.12 0.19 0.18 0.18 - 0.01 0.50 0.09 0.01 0.00 0.01 + 0.00 0.06 0.01 0.09 0.08 0.09 + 0.01 0.12 0.06 0.13 0.11 0.11 + 0.01 0.17 0.08 0.35 0.30 0.33 + 0.03 0.42 0.21 0.34 0.25 0.30 - 0.05 0.47 0.25 0.00 0.00 0.00 unch 0.00 0.08 0.00 0.05 0.03 0.05 + 0.01 0.14 0.03 0.04 0.04 0.04 unch 0.00 0.09 0.03 0.04 0.03 0.03 - 0.00 0.07 0.02 10.01 9.05 9.89 + 0.31 10.11 6.47 13.08 12.10 13.08 + 0.47 13.35 8.18 0.08 0.07 0.08 + 0.01 0.20 0.06 0.13 0.10 0.12 + 0.02 0.26 0.08 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.08 0.00 0.08 unch 0.00 0.16 0.05 0.05 0.04 0.04 - 0.01 0.15 0.03 0.00 0.00 0.01 unch 0.00 0.02 0.01 0.09 0.00 0.09 - 0.01 0.21 0.08 0.08 0.07 0.07 - 0.01 0.15 0.06 0.10 0.09 0.09 unch 0.00 0.17 0.08 0.07 0.06 0.07 + 0.00 0.13 0.05 0.29 0.27 0.27 - 0.02 0.39 0.25 0.22 0.20 0.21 - 0.00 0.32 0.18 4.93 4.57 4.83 + 0.15 6.47 4.44 3.73 3.42 3.64 + 0.14 5.05 3.41 1.95 1.69 1.82 + 0.02 5.00 1.42 2.50 2.23 2.38 + 0.01 6.42 1.89

N-O

20-23_FEB4_StockTables.indd 22

(100s) Stock

Week

(100s) Stock

12-month

Exc Volume High Low Last Change High Low

NRG Metals* O 373 NRG Metals V 380 Nrthn Graphite V 106 Nrthn Graphite* O 85 Nrthn Lion V 1 Nrthn Mnrls &E* O 38 Nrthn Shield V 2769 Nrthn Superior* O 0 Nrthn Superior V 30 Nrthn Vertex* O 16 Nrthn Vertex V 167 V 31 NSGold NSS Res Inc 134 Nthn Dynasty* X 2663 Nthn Dynasty T 227 Nthrn Sphere* O 64 Nthrn Sphere 288 Nubian Res V 44 Nuinsco Res* O 54 NuLegacy Gold V 135 NuLegacy Gold* O 412 Nutrien T 5292 N 7163 Nutrien* NV Gold* O 41 NV Gold V 116 NX Uranium* O 93 NxGold Ltd* O 410 NxGold Ltd V 1609 Nyrstar NV* O 25 O.T. Mining* O 4 OceanaGold* O 16 OceanaGold T 5583 Oceanic Iron O V 44 Oceanus Res* O 20 Oceanus Res V 109 Odyssey Res V 206 OK2 Minerals V 750 Olivut Res V 142 Olivut Res* O 147 Omineca Mining V 18 Omineca Mining* O 0 302 One World Lith O 2 Opawica Expl* Opawica Expl V 150 Orbite Tech* O 131 Orca Gold V 336 Orca Gold* O 97 Orefinders Res V 89 Orestone Mng V 140 Orex Mnrls* O 30 Orex Mnrls V 337 Orezone Gold V 836 Orezone Gold* O 373 Orford Mining V 286 Organic Potash 44 OrganiMax V 165 OrganiMax* O 5 Origin Gold V 52 O 8 Original Sixtn* Orla Mng Ltd T 622 Orla Mng Ltd* O 7 Oroco Res V 276 Oroco Res* O 63 Orocobre T 45 Oronova Energy V 11 Oroplata Res* O 2170 Orosur Mng T 282 Orsu Metals V 10 Orsu Metals* O 1 Orvana Mnrls* O 30 Orvana Mnrls T 361 Osino Res V 43 Osisko Gold* N 1875 Osisko Gold T 1798 Osisko Metals* O 181 Osisko Metals V 1178 Osisko Mng Inc T 1935 Osprey Gold V 268 Otis Gold V 84 Otis Gold* O 147 OZ Minerals* O 4

0.09 0.07 0.07 - 0.01 0.35 0.04 0.12 0.10 0.10 - 0.01 0.44 0.06 0.20 0.16 0.18 + 0.03 0.50 0.14 0.15 0.12 0.14 + 0.02 0.40 0.09 0.00 0.00 0.26 unch 0.00 0.55 0.19 0.09 0.00 0.09 + 0.03 0.10 0.02 0.05 0.04 0.05 - 0.01 0.09 0.02 0.00 0.00 0.02 unch 0.00 0.04 0.02 0.27 0.23 0.26 - 0.01 0.50 0.15 0.20 0.18 0.18 - 0.02 0.49 0.17 0.25 0.23 0.25 + 0.01 0.58 0.22 0.07 0.07 0.07 + 0.01 0.14 0.07 0.12 0.09 0.10 - 0.02 0.45 0.08 0.74 0.70 0.71 - 0.01 1.61 0.43 0.97 0.89 0.93 - 0.02 1.97 0.55 0.03 0.02 0.02 - 0.00 0.11 0.01 0.04 0.02 0.02 unch 0.00 0.15 0.02 0.12 0.09 0.09 unch 0.00 0.31 0.08 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.14 0.13 0.14 + 0.01 0.22 0.10 0.11 0.00 0.10 - 0.00 0.17 0.08 69.29 67.14 68.37 + 0.28 76.17 55.27 51.90 50.24 51.66 + 0.37 58.99 40.41 0.12 0.11 0.12 - 0.01 0.92 0.05 0.17 0.14 0.16 - 0.03 1.22 0.07 0.39 0.22 0.31 - 0.08 1.00 0.01 0.08 0.05 0.08 + 0.03 0.25 0.05 0.10 0.07 0.10 + 0.04 0.32 0.06 0.79 0.79 0.79 unch 0.00 7.36 0.59 0.10 0.09 0.10 + 0.02 0.24 0.04 3.55 3.30 3.34 - 0.09 3.74 2.31 4.73 4.23 4.61 + 0.17 5.01 2.97 0.07 0.07 0.07 - 0.01 0.16 0.04 0.08 0.08 0.08 unch 0.00 0.20 0.04 0.09 0.09 0.09 - 0.01 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 0.06 0.02 0.10 0.09 0.09 - 0.01 0.15 0.07 0.08 0.06 0.07 - 0.01 0.13 0.05 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.00 0.00 0.01 unch 0.00 0.03 0.01 0.22 0.18 0.20 - 0.03 0.22 0.10 0.02 0.02 0.02 unch 0.00 0.08 0.02 0.05 0.05 0.05 unch 0.00 0.20 0.03 0.00 0.00 0.00 unch 0.00 0.05 0.00 0.44 0.41 0.41 - 0.02 0.72 0.38 0.33 0.00 0.31 - 0.01 0.59 0.28 0.05 0.05 0.05 unch 0.00 0.15 0.04 0.10 0.10 0.10 unch 0.00 0.17 0.06 0.05 0.05 0.05 - 0.01 0.15 0.05 0.08 0.07 0.07 - 0.01 0.18 0.07 0.52 0.45 0.52 + 0.09 0.99 0.42 0.39 0.31 0.39 + 0.05 0.81 0.31 0.11 0.09 0.09 - 0.01 0.35 0.10 0.04 0.02 0.04 unch 0.00 0.08 0.02 0.06 0.05 0.05 - 0.01 0.26 0.05 0.04 0.04 0.04 unch 0.00 0.20 0.04 0.13 0.12 0.12 - 0.01 0.16 0.07 0.05 0.05 0.05 unch 0.00 0.20 0.01 1.20 0.94 1.19 + 0.05 1.74 0.94 0.99 0.70 0.99 + 0.12 1.35 0.00 0.26 0.23 0.26 + 0.03 0.31 0.09 0.19 0.17 0.19 + 0.02 0.24 0.08 3.43 3.12 3.23 - 0.02 7.36 2.74 0.09 0.00 0.09 unch 0.00 0.16 0.06 0.35 0.21 0.24 - 0.06 0.42 0.06 0.11 0.09 0.10 - 0.01 0.20 0.02 0.26 0.00 0.25 - 0.03 0.34 0.14 0.18 0.00 0.18 + 0.01 0.26 0.12 0.13 0.11 0.11 - 0.02 0.20 0.09 0.16 0.14 0.14 - 0.02 0.24 0.12 0.30 0.26 0.28 - 0.01 0.64 0.20 9.09 8.50 9.01 + 0.37 12.03 7.00 12.04 11.36 11.93 + 0.45 14.80 9.27 0.40 0.00 0.38 + 0.01 0.69 0.37 0.54 0.50 0.50 - 0.01 0.84 0.46 2.84 2.49 2.80 + 0.24 3.69 1.60 0.06 0.05 0.06 unch 0.00 0.11 0.04 0.12 0.11 0.12 + 0.01 0.32 0.09 0.09 0.07 0.09 + 0.01 0.25 0.06 6.60 0.00 6.60 + 0.03 8.02 5.90

Pac Arc Res V 21 Pac Bay Mnrls V 10 Pac Booker Min* O 17 43 Pac Booker Min V Pac Imperial V 300 Pac Iron Ore V 23 Pac Ridge Expl V 139 0 Pac Ridge Expl* O Pac Wildcat* O 4 Pacific Empire V 120 Pacific Rim 495 Pacific Rim* O 179 Pacific Silk V 0 Pacton Gold V 1003 O 136 Paladin Energy* Palamina Corp V 252 Palamina Corp* O 67 Pan Am Silver* D 9956 Pan Am Silver T 1616 Pan Andean Min V 214 Pan Global Res V 416 Pancontinental* O 11 Pancontinental V 145 Panex Res* O 15 Pangolin Dia V 417 Panoro Mnrls V 803 Pantheon Vent V 190 Para Resources V 622 Parallel Mng V 501 Parallel Mng * O 450 Paramount Gold* X 60 Paringa Res* O 40 Parlane Res V 35 Pasinex Res 80 Patriot Gold* O 50 N 3600 Peabody Enrgy* Pedro Res V 1366 Pelangio Expl* O 39 Pelangio Expl V 425 Pele Mtn Res* O 20 Peloton Mnrls* O 39 Peloton Mnrls 48 PepinNini Lith* O 100 Perseus Mng T 113 Pershing Gold T 72 Pershing Gold* D 227 Pershing Res* O 8 Peruvian Metal* O 8 Peruvian Metal V 51 Philex Mng* O 38 Philippine Mtl V 2 Pine Cliff En T 2070 Pinecrest Res V 38 Pistol Bay Mng V 770 Pistol Bay Mng* O 7 Pivit Explor 401 1 PJSC Polyus Gd* O PJX Res V 373 Plata Latina V 8 Plate Res V 105 Plateau Energy V 144 Plateau Energy* O 35 Platinex Inc* O 47 Platinex Inc 362 Platinum Gp Mt T 110 Platinum Gp Mt* X 522 Plato Gold V 125 Playfair Mng V 20 Playfair Mng* O 0 PolyMet Mng* X 1820 PolyMet Mng T 29 Portage Res* O 523 Portofino Res V 170 Potash Ridge* O 161 Potash Ridge T 887 Power Metals V 1622 Power Metals* O 107 PowerOre V 345 PPX Mining* O 16 PPX Mining V 398 Precipitate Gl* O 148 Precipitate Gl V 525 Premier Gold M T 1736 O 35 Premium Expl* Pretium Res* N 9133

0.39 0.30 0.32 - 0.07 0.45 0.20 0.08 0.08 0.08 unch 0.00 0.30 0.06 1.12 1.05 1.05 - 0.05 1.21 0.50 1.48 1.32 1.35 - 0.09 1.50 0.65 0.03 0.02 0.03 + 0.01 0.07 0.02 0.07 0.07 0.07 - 0.01 0.15 0.03 0.05 0.05 0.05 unch 0.00 0.07 0.04 0.00 0.00 0.05 unch 0.00 0.06 0.02 0.01 0.01 0.01 unch 0.00 0.39 0.00 0.08 0.06 0.06 - 0.02 0.20 0.06 0.19 0.17 0.17 - 0.02 1.30 0.10 0.15 0.12 0.13 - 0.02 0.96 0.07 0.00 0.00 0.02 unch 0.00 0.06 0.02 0.30 0.26 0.28 - 0.01 1.02 0.24 0.13 0.12 0.12 - 0.01 0.50 0.01 0.33 0.28 0.33 - 0.01 0.47 0.26 0.27 0.22 0.23 - 0.04 0.37 0.20 14.45 13.01 13.82 - 0.36 18.75 12.12 18.73 17.35 18.25 - 0.56 24.22 16.05 0.04 0.00 0.04 - 0.01 0.13 0.03 0.12 0.10 0.10 - 0.02 0.30 0.10 0.03 0.03 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 unch 0.00 0.01 0.00 0.05 0.04 0.04 - 0.01 0.08 0.04 0.22 0.18 0.21 - 0.01 0.39 0.13 0.10 0.08 0.10 + 0.02 0.12 0.07 0.19 0.16 0.19 + 0.03 0.25 0.12 0.05 0.04 0.04 - 0.01 0.08 0.02 0.03 0.03 0.03 - 0.00 0.05 0.03 0.93 0.90 0.93 + 0.01 1.64 0.81 0.13 0.11 0.11 - 0.02 0.44 0.11 0.06 0.04 0.06 + 0.01 0.30 0.03 0.09 0.07 0.08 - 0.02 0.22 0.07 0.09 0.06 0.08 + 0.02 0.15 0.04 35.85 33.74 35.44 + 0.76 47.84 29.08 0.29 0.17 0.20 - 0.02 0.33 0.17 0.27 0.17 0.27 + 0.11 0.23 0.02 0.38 0.20 0.36 + 0.16 0.60 0.12 0.07 0.05 0.07 + 0.02 0.25 0.02 0.07 0.06 0.06 - 0.01 0.12 0.06 0.10 0.09 0.10 unch 0.00 0.15 0.03 0.00 0.00 0.00 unch 0.00 0.04 0.00 0.39 0.36 0.38 + 0.01 0.50 0.25 1.51 1.27 1.47 - 0.05 3.06 1.06 1.17 1.02 1.15 - 0.01 2.50 0.80 0.02 0.02 0.02 unch 0.00 0.09 0.01 0.02 0.02 0.02 unch 0.00 0.08 0.02 0.04 0.04 0.04 unch 0.00 0.10 0.03 0.07 0.07 0.07 unch 0.00 0.14 0.02 0.00 0.00 0.05 unch 0.00 0.13 0.04 0.28 0.24 0.27 + 0.03 0.45 0.22 0.23 0.22 0.22 unch 0.00 0.32 0.18 0.04 0.04 0.04 unch 0.00 0.18 0.03 0.00 0.00 0.02 unch 0.00 0.08 0.02 0.10 0.08 0.10 + 0.02 0.19 0.07 42.00 0.00 42.00 + 1.25 45.00 29.00 0.33 0.29 0.29 - 0.01 0.36 0.11 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.05 0.05 0.05 unch 0.00 0.10 0.03 0.75 0.62 0.68 - 0.06 1.69 0.55 0.56 0.48 0.48 - 0.04 1.27 0.42 0.04 0.04 0.04 + 0.00 0.21 0.04 0.07 0.06 0.06 unch 0.00 0.30 0.03 2.09 1.75 1.96 + 0.14 6.60 1.15 1.59 1.31 1.53 + 0.15 5.60 0.83 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.03 0.00 0.03 unch 0.00 0.09 0.02 0.00 0.00 0.02 unch 0.00 0.06 0.01 0.79 0.76 0.77 - 0.01 1.36 0.75 1.05 1.01 1.02 - 0.03 1.66 0.95 0.00 0.00 0.00 + 0.00 0.02 0.00 0.08 0.00 0.08 + 0.01 0.44 0.06 0.04 0.03 0.03 - 0.01 0.11 0.02 0.05 0.04 0.04 - 0.01 0.13 0.03 0.20 0.19 0.20 unch 0.00 0.84 0.15 0.16 0.13 0.14 - 0.01 0.68 0.10 0.09 0.08 0.08 - 0.01 0.45 0.05 0.07 0.06 0.06 - 0.01 0.08 0.05 0.08 0.08 0.08 unch 0.00 0.11 0.06 0.11 0.08 0.08 - 0.03 0.12 0.03 0.15 0.11 0.11 - 0.03 0.15 0.04 1.69 1.48 1.68 + 0.17 3.64 1.39 0.00 0.00 0.00 unch 0.00 0.02 0.00 7.38 6.65 7.29 + 0.49 9.84 6.17

P-Q

Week

12-month

Exc Volume High Low Last Change High Low

Pretium Res T 2445 Primary Energy 421 Prism Res V 356 Prize Mng* O 181 Prize Mng V 63 ProAm Expl V 10 Probe Metals* O 138 Probe Metals V 174 Prog Planet V 214 1 Promithian Gl * O Prophecy Coal T 1120 O 460 Prophecy Coal* Prosper Gold V 186 Prospero Silvr V 70 Prospero Silvr* O 73 Provenance Gld 303 Providence V 62 Providence Gld* O 72 PUF Vent Inc * O 2607 Puma Expl V 2070 Puma Expl* O 175 Pure Alumina* O 29 Pure Energy* O 367 Pure Energy V 170 Pure Gold Mg* O 257 Pure Gold Mg V 2512 Pure Nickel* O 103 Pure Nickel V 82 Purepoint Uran V 4092 Q-Gold Res* O 0 Q-Gold Res V 213 QC Precious V 229 QC Precious * O 39 QMC Quantum Ml V 184 QMC Quantum Ml* O 387 QMX Gold* O 4 QMX Gold V 652 Quadro Res V 4 Quantum Cobalt 152 Quartz Mtn Res* O 0 Quartz Mtn Res V 0 Quaterra Res V 262 Quaterra Res* O 742 Quest Rare Mnl* O 55 Quinto Res V 275

9.78 8.88 9.66 + 0.62 12.87 7.93 0.04 0.03 0.03 - 0.01 0.15 0.02 0.03 0.03 0.03 unch 0.00 0.11 0.03 0.03 0.02 0.02 - 0.01 0.27 0.02 0.04 0.04 0.04 unch 0.00 0.35 0.04 0.04 0.04 0.04 unch 0.00 0.04 0.02 0.90 0.81 0.81 - 0.10 1.22 0.68 1.17 1.06 1.06 - 0.10 1.55 0.91 0.05 0.04 0.05 - 0.01 0.12 0.04 0.05 0.00 0.05 + 0.00 0.10 0.01 0.27 0.22 0.26 - 0.01 0.74 0.11 0.21 0.16 0.19 - 0.02 3.07 0.09 0.14 0.12 0.13 - 0.01 0.18 0.06 0.07 0.06 0.06 - 0.01 0.15 0.05 0.06 0.05 0.05 - 0.01 0.12 0.04 0.15 0.11 0.15 - 0.01 0.39 0.10 0.12 0.11 0.11 - 0.01 0.19 0.09 0.09 0.09 0.09 unch 0.00 0.15 0.08 0.23 0.19 0.23 + 0.02 0.25 0.06 0.04 0.03 0.04 - 0.01 0.11 0.03 0.03 0.03 0.03 unch 0.00 0.08 0.02 0.03 0.03 0.03 - 0.00 0.12 0.03 0.08 0.07 0.07 - 0.01 0.35 0.03 0.11 0.09 0.10 - 0.01 0.43 0.05 0.56 0.50 0.56 + 0.04 0.56 0.38 0.75 0.68 0.74 + 0.07 0.75 0.50 0.01 0.01 0.01 unch 0.00 0.04 0.00 0.02 0.01 0.01 - 0.01 0.05 0.01 0.11 0.08 0.10 + 0.03 0.10 0.06 0.00 0.00 0.15 unch 0.00 0.17 0.07 0.24 0.19 0.19 - 0.01 0.24 0.10 0.28 0.27 0.27 - 0.01 0.60 0.25 0.22 0.20 0.21 - 0.00 0.33 0.20 0.35 0.31 0.32 - 0.01 1.06 0.16 0.29 0.23 0.24 - 0.00 0.86 0.12 0.06 0.05 0.06 + 0.01 0.25 0.03 0.11 0.09 0.09 - 0.01 0.31 0.05 0.00 0.00 0.04 unch 0.00 0.10 0.03 0.06 0.00 0.06 unch 0.00 0.78 0.04 0.00 0.00 0.31 unch 0.00 0.70 0.31 0.00 0.00 0.29 unch 0.00 0.80 0.27 0.09 0.06 0.08 + 0.02 0.09 0.05 0.07 0.04 0.06 + 0.02 0.07 0.04 0.00 0.00 0.00 - 0.00 0.01 0.00 0.06 0.05 0.06 - 0.01 0.14 0.02

Rackla Mtls V 1 Rackla Mtls* O 1 Radisson Mng V 330 Radius Gold V 567 Rainforest Res* O 2 36 Rainy Mtn Royl V Rambler Metals* O 10 110 Rambler Ml &Mg V Randgold Res* N 45681 O 264 Rare Element* Rathdowney Res V 441 Ravencrest Res 1288 Red Eagle Mng* O 181 10 Red Moon Res V Red Pine Expl V 885 Redstar Gold V 607 Redstar Gold* O 234 O 60 Redzone Res* Redzone Res V 156 Regulus Res V 195 Remington Res V 1 O 104 Renaissance Gd* Renaissance Gd V 168 Renforth Res 822 Resolve Vent V 9 Resource Cap V 354 Reunion Gold V 307 Revelo Res V 7332 Revival Gold * O 82 Revival Gold V 174 Richmond Mnls* O 50 Richmond Mnls V 574 V 23 Ridgestone M’g O 3 Ridgestone M’g* Rift Valley 1265 Rimrock Gold* O 356368 Rio Tinto* O 0 Rio Tinto* N 15434 Rio Tinto* O 2 Rio2 Limited V 605 Rio2 Limited* O 53 Rise Gold Corp* O 289 Rise Gold Corp 1184 Riverside Res* O 40 Riverside Res V 131 Rizal Res V 156 RJK Explor V 375 RJK Explor* O 9 Robex Res V 383 Rochester Res V 3 Rock Tech Lith V 24 Rockcliff Met V 395 Rockcliff Met* O 53 Rockex Mng 133 V 188 Rockhaven Res Rockridge Res V 156 Rockshield Cap* O 24 Rockshield Cap 276 Rockwealth Res V 16 Rodinia Lithm V 3 Rogue Res* O 0 Rogue Res V 45 Rojo Res V 133 Rokmaster Res V 54 Romios Gold Rs V 119 Romios Gold Rs* O 112 RosCan Gold V 8076 305 Rosita Mg Corp V Rotation Mnls V 115 V 48 Roughrider Exp Rover Metals V 943 Roxgold T 1799 Roxgold* O 176 Royal Gold* D 2866 Royal Mines &M* O 60 Royal Nickel* O 3051 Royal Nickel T 56236 Royal Rd Mnrls V 193 Royal Std Mnrl* O 13 RT Minerals V 25 RTG Mining T 126 43 RTG Mining * O Rubicon Mnrls T 20 Rubicon Mnrls* O 76 Rugby Mng V 94 Running Fox Rs* O 232 Running Fox Rs V 58 Rupert Res V 528 Rusoro Mng* O 1642 Rusoro Mng V 4765

0.00 0.00 0.09 unch 0.00 0.15 0.06 0.06 0.06 0.06 unch 0.00 0.11 0.05 0.11 0.10 0.10 + 0.01 0.20 0.09 0.11 0.09 0.10 - 0.01 0.19 0.09 6.50 0.00 5.99 - 0.86 9.45 3.50 0.02 0.02 0.02 - 0.01 0.10 0.02 0.01 0.00 0.01 unch 0.00 0.07 0.01 0.03 0.03 0.03 unch 0.00 0.17 0.03 12.60 12.33 12.45 unch 0.00 104.05 12.20 0.09 0.06 0.08 + 0.00 0.23 0.03 0.11 0.10 0.10 - 0.01 0.18 0.04 0.74 0.62 0.74 + 0.10 1.65 0.38 0.00 0.00 0.00 unch 0.00 0.26 0.00 0.10 0.10 0.10 + 0.01 0.16 0.05 0.06 0.05 0.06 unch 0.00 0.10 0.04 0.03 0.02 0.02 - 0.01 0.06 0.02 0.02 0.02 0.02 - 0.00 0.04 0.01 0.06 0.06 0.06 unch 0.00 0.57 0.06 0.13 0.09 0.13 + 0.03 0.75 0.07 1.34 1.26 1.30 - 0.04 2.30 1.25 0.00 0.00 0.20 unch 0.00 0.40 0.20 0.15 0.13 0.13 - 0.02 0.27 0.11 0.19 0.17 0.18 - 0.01 0.33 0.15 0.05 0.04 0.05 unch 0.00 0.06 0.02 0.10 0.09 0.09 - 0.01 0.32 0.07 0.02 0.01 0.02 unch 0.00 0.13 0.01 0.17 0.15 0.16 - 0.01 0.23 0.11 0.02 0.01 0.02 + 0.01 0.06 0.01 0.61 0.57 0.57 - 0.03 0.73 0.42 0.80 0.75 0.75 - 0.01 0.99 0.54 0.02 0.02 0.02 unch 0.00 0.03 0.02 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.25 0.20 0.24 + 0.04 0.32 0.19 0.21 0.19 0.19 - 0.02 0.21 0.19 0.10 0.08 0.10 + 0.02 0.13 0.05 0.00 0.00 0.00 + 0.00 0.00 0.00 0.00 0.00 58.70 unch 0.00 65.30 50.48 52.90 49.62 52.26 + 0.62 60.72 44.62 51.85 48.59 51.85 + 0.60 60.00 43.47 0.56 0.49 0.52 + 0.03 1.15 0.42 0.41 0.38 0.40 + 0.03 0.81 0.35 0.07 0.05 0.06 + 0.01 0.12 0.04 0.09 0.08 0.08 unch 0.00 0.16 0.05 0.13 0.11 0.12 - 0.01 0.42 0.10 0.18 0.15 0.17 - 0.02 0.33 0.13 0.03 0.02 0.02 - 0.01 0.05 0.01 0.05 0.04 0.04 unch 0.00 0.23 0.04 0.03 0.03 0.03 - 0.00 0.13 0.00 0.08 0.08 0.08 - 0.01 0.12 0.07 0.04 0.00 0.04 + 0.01 0.09 0.03 0.99 0.90 0.90 - 0.09 1.72 0.76 0.17 0.15 0.15 - 0.02 0.20 0.07 0.13 0.11 0.11 - 0.02 0.13 0.06 0.04 0.04 0.04 + 0.01 0.10 0.01 0.19 0.15 0.18 + 0.03 0.19 0.09 0.25 0.23 0.24 + 0.01 0.35 0.20 0.08 0.07 0.07 - 0.00 0.45 0.06 0.13 0.10 0.11 - 0.01 0.55 0.09 0.12 0.00 0.12 + 0.01 0.24 0.11 0.07 0.00 0.07 - 0.01 0.39 0.05 0.00 0.00 0.08 unch 0.00 0.33 0.08 0.10 0.09 0.09 - 0.01 0.40 0.09 0.30 0.10 0.15 + 0.02 0.30 0.13 0.06 0.06 0.06 unch 0.00 0.18 0.06 0.06 0.05 0.06 + 0.01 0.09 0.04 0.05 0.04 0.05 + 0.02 0.07 0.02 0.19 0.06 0.19 + 0.13 0.11 0.05 0.03 0.03 0.03 unch 0.00 0.12 0.03 0.08 0.08 0.08 unch 0.00 0.40 0.07 0.08 0.08 0.08 + 0.01 0.30 0.07 0.07 0.05 0.06 unch 0.00 0.11 0.03 0.82 0.72 0.80 + 0.04 1.35 0.72 0.60 0.56 0.60 + 0.03 1.02 0.55 83.74 80.72 83.20 + 0.83 98.53 70.16 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.59 0.36 0.49 + 0.08 0.90 0.05 0.79 0.51 0.66 + 0.12 1.18 0.07 0.07 0.00 0.07 - 0.01 0.18 0.06 2.10 1.69 2.00 + 0.25 3.14 0.01 0.05 0.00 0.05 unch 0.00 0.65 0.05 0.16 0.13 0.13 unch 0.00 0.22 0.09 0.10 0.10 0.10 unch 0.00 0.10 0.07 1.34 1.22 1.26 - 0.01 1.73 1.00 0.99 0.90 0.97 + 0.01 1.35 0.74 0.20 0.18 0.18 - 0.02 0.43 0.14 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.02 0.02 0.02 + 0.01 0.04 0.01 1.00 0.00 1.00 + 0.10 1.46 0.75 0.09 0.08 0.09 + 0.02 0.32 0.05 0.13 0.11 0.12 + 0.01 0.42 0.07

Sabina Gd&Slvr T 839 Sabina Gd&Slvr* O 342 Sable Res* O 68 Sable Res V 447 Sage Gold* O 0 Sailfish Rylty V 48 Saint Jean V 4247 Salazar Res* O 18 Salazar Res V 600 Salt Lake Pot* O 36 Sama Res V 389 Sama Res* O 214 Samco Gold V 75 Samex Mng* O 249 San Gold Corp* O 610 San Marco Res* O 58 San Marco Res V 67 Sanatana Diam V 558 Sandfire Res V 561 Sandfire Res* O 580 Sandspring Res V 733 Sandspring Res* O 354 Sandstorm Gold T 1638 Sandstorm Gold* X 4534 Santa Fe Gold* O 547 Santacruz Silv V 600 Sarama Res V 250 Sarissa Res* O 2777 Satori Res V 287 Saturn Mnrls V 3304 Savary Gold V 870 Saville Res V 186 Scandium Intl* O 61 Scandium Intl T 318 Scorpio Gold V 1630

1.35 1.25 1.35 + 0.03 2.15 1.11 1.02 0.94 1.02 + 0.03 1.80 0.85 0.17 0.14 0.15 + 0.01 0.28 0.12 0.21 0.18 0.19 unch 0.00 0.37 0.14 0.00 0.00 0.00 unch 0.00 0.09 0.00 1.05 1.00 1.03 + 0.03 2.49 0.70 0.04 0.03 0.04 + 0.02 0.18 0.02 0.08 0.08 0.08 unch 0.00 0.12 0.07 0.13 0.11 0.12 unch 0.00 0.18 0.10 0.33 0.32 0.32 - 0.01 0.47 0.31 0.34 0.29 0.29 - 0.04 0.48 0.22 0.25 0.21 0.22 - 0.03 0.39 0.17 0.03 0.03 0.03 unch 0.00 0.11 0.02 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 0.09 0.07 0.08 - 0.01 0.23 0.06 0.10 0.08 0.08 - 0.02 0.30 0.08 0.05 0.05 0.05 unch 0.00 0.06 0.02 0.11 0.07 0.07 - 0.03 0.11 0.06 0.08 0.05 0.06 - 0.02 0.10 0.05 0.30 0.26 0.30 + 0.03 0.40 0.17 0.22 0.20 0.22 + 0.02 0.32 0.13 6.39 5.87 6.27 + 0.40 6.93 4.60 4.83 4.40 4.74 + 0.33 5.64 3.48 0.11 0.09 0.11 + 0.01 0.19 0.04 0.06 0.05 0.06 - 0.01 0.17 0.05 0.06 0.05 0.05 unch 0.00 0.15 0.05 0.00 0.00 0.00 - 0.00 0.00 0.00 0.06 0.06 0.06 unch 0.00 0.15 0.04 0.20 0.17 0.19 - 0.01 0.30 0.11 0.05 0.04 0.05 - 0.01 0.08 0.04 0.04 0.04 0.04 unch 0.00 0.12 0.04 0.15 0.13 0.13 - 0.01 0.24 0.11 0.19 0.18 0.18 + 0.01 0.32 0.13 0.02 0.01 0.02 - 0.01 0.04 0.01

R

S

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Scotch Creek 25 ScoZinc Mg V 13 Seabridge Gld T 300 Seabridge Gld* N 1753 Search Mnls V 197 Searchlight* O 64 O 871 SearchlightMin* V 152 SearchlightRes Secova Mtls V 1327 Secova Mtls* O 11 Sego Res V 185 Select Sands V 593 T 2765 Semafo O 2 Sennen Potash* Serabi Gold T 8 Serabi Gold* O 0 Serengeti Res V 2104 Shamrock Ent 58 Sherritt Intl T 4768 O 1 Shine Minerals* V 63 Shoshoni Gold 11247 N Sibanye-Stillw* O 46 Sibanye-Stillw* O 620 Sidney Resrces* Sienna Res V 548 Sienna Res* O 4 Sierra Metals* X 248 Sierra Metals T 111 V 30 Sigma Lithium Signature Res V 105 O 69 Signature Res* 467 Silver Bear Rs T 22 Silver Bear Rs* O Silver Bull Re* O 744 701 Silver Bull Re T Silver Grail V 116 Silver Hill* O 1 25 Silver Mtn Mns* O 115 Silver Mtn Mns V Silver Predatr V 50 O 39 Silver Predatr* Silver Range* O 11 Silver Range V 39 Silver Scott* O 24 Silver Spruce V 443 O 0 Silver Spruce* Silver Viper V 307 Silver Viper* O 6 T 783 Silvercorp Met X 1404 Silvercorp Met* SilverCrest* X 410 SilverCrest V 700 O 4 Silverstar Res* Sirios Res V 335 Sirios Res* O 2 Sitka Gold 137 Sixty North* O 32 Sixty North 936 Skeena Res* O 158 Skeena Res V 1930 O 225 Skyharbour Res* V 305 Skyharbour Res Slam Explor V 518 65 Slave Lake Zn V 337 Sojourn Explor O 50 Sojourn Explor* Sokoman Iron V 4086 O 62 Sokoman Iron* SolGold plc T 251 SolGold plc* O 94 X 191 Solitario Ex&R* T 42 Solitario Ex&R Solstice Gold V 1733 110 Sonora Gld & S V Sonoro Mtls* O 200 Sonoro Mtls V 350 South32* O 82 Southern Arc* O 0 Southern Arc V 20 N 4652 Southern Copp* O 121 Southern Silvr* Southern Silvr V 77 481 Spanish Mtn Gd V Spanish Mtn Gd* O 337 Sparton Res* O 20 Sparton Res V 268 O 40 Spearmint Res* Spearmint Res 780 Spey Resources 195 Sphinx Res V 1746 50 Sprott Res Hld T Spruce Ridge R V 2189 SRG Graphite V 166 SSR Mining* D 3531 SSR Mining T 1115 St Augustine T 2322 St-Georges Eco 4687 O 27 St-Georges Eco* V 34 Stakeholdr Gld O 41 Stakeholdr Gld* O 1101 Standard Graph* Standard Lith V 760 O 142 Standard Metal* Stans Energy V 505 O 149 Stans Energy* Star Diamond T 1089 O 34 Star Diamond* Star Gold* O 41 O 4 Star Mountain* Starcore Intl T 39 88 Starr Peak Exp V O 0 Steele Oceanic* Stellar Africa* O 18 Stellar Africa V 743 Stelmine Can V 5 Steppe Gold T 84 Sterling Grp* O 15 T 749 Stornoway Diam O 2 Stornoway Diam* Stratabd Mnr V 805 Strateco Res* O 80 O 183 Strategic Metl* Strategic Metl V 264 Strategic Res V 3 Stria Lithium V 101 V 108 Strikepoint Gd O 129 Strikepoint Gd* V 287 Strongbow Expl O 40 Strongbow Expl* Stroud Res V 1703 Sulliden Mng T 338 Sun Metals V 1024 N 20950 Suncor Energy* Suncor Energy T 13813 V 667 Sunvest Mnrls O 0 Sunvest Mnrls* O 13 Superior Gold* Superior Gold V 490 O 20 Supreme Metal* Supreme Metals 2757 Surge Copper V 70 Surge Explor* O 65 Surge Explor V 138 Sutter Gold* O 391 Sutter Gold V 53 Syrah Res* O 34

0.12 unch 0.00 0.13 0.12 0.12 0.12 0.49 0.62 0.49 0.51 - 0.01 1.50 12.89 17.93 16.38 17.73 + 1.23 19.84 10.20 13.54 12.27 13.42 + 1.02 15.30 0.03 0.05 0.04 0.05 + 0.01 0.09 0.01 unch 0.00 0.16 0.02 0.02 0.02 0.01 0.01 0.01 0.01 - 0.00 0.05 0.02 0.03 0.03 0.03 - 0.01 0.23 0.02 0.03 0.03 0.03 - 0.01 0.30 0.01 0.02 0.02 0.02 - 0.00 0.10 0.03 0.03 0.03 0.03 - 0.01 0.07 0.07 0.09 0.08 0.09 - 0.01 0.51 2.24 2.95 2.60 2.95 + 0.25 4.14 0.33 unch 0.00 0.40 0.33 0.33 0.33 0.49 unch 0.00 1.60 0.57 0.53 0.57 0.03 unch 0.00 0.82 0.00 0.00 0.65 0.12 0.38 0.30 0.33 + 0.04 0.60 0.02 0.03 0.02 0.03 + 0.02 0.08 0.37 0.43 0.41 0.42 + 0.01 1.44 0.05 unch 0.00 0.11 0.05 0.05 0.05 0.03 unch 0.00 0.08 0.03 0.03 0.03 2.02 3.04 2.77 3.03 + 0.15 5.00 0.53 unch 0.00 1.13 0.72 0.72 0.72 0.00 0.01 0.00 0.00 - 0.00 0.01 0.04 unch 0.00 0.39 0.06 0.00 0.05 0.03 0.03 0.03 0.03 - 0.00 0.32 1.53 1.95 1.73 1.73 - 0.13 3.00 2.11 2.60 2.38 2.42 - 0.07 3.85 1.20 2.05 1.93 1.93 - 0.12 2.40 0.05 unch 0.00 0.14 0.09 0.09 0.09 0.04 0.07 0.06 0.07 - 0.00 0.11 0.15 0.11 0.14 + 0.01 0.31 0.11 0.12 0.10 0.12 + 0.00 0.26 0.10 0.14 0.11 0.13 + 0.01 0.20 0.09 0.19 0.15 0.18 + 0.02 0.27 0.11 0.03 0.05 0.04 0.04 - 0.01 0.10 0.08 0.08 0.08 0.08 - 0.04 0.25 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.07 unch 0.00 0.14 0.09 0.09 0.09 0.05 unch 0.00 0.11 0.05 0.05 0.05 0.06 0.08 0.08 0.08 + 0.01 0.15 0.08 0.13 0.12 0.12 - 0.01 0.19 0.01 0.00 0.10 0.02 + 0.03 0.02 0.02 0.04 0.00 0.03 - 0.01 0.07 0.01 unch 0.00 0.04 0.00 0.00 0.02 0.07 0.15 0.11 0.13 - 0.02 0.25 0.07 unch 0.00 0.12 0.07 0.07 0.07 2.43 2.86 2.61 2.82 + 0.18 4.02 1.83 2.17 1.96 2.13 + 0.13 3.12 1.46 3.53 2.90 3.50 + 0.47 3.39 1.80 4.65 4.00 4.62 + 0.62 4.63 0.01 0.05 0.01 0.02 - 0.03 0.39 0.12 0.17 0.16 0.17 + 0.01 0.31 0.09 unch 0.00 0.24 0.11 0.11 0.11 0.04 0.11 0.10 0.11 + 0.01 0.30 0.04 unch 0.00 0.16 0.06 0.06 0.06 0.05 unch 0.00 0.24 0.06 0.06 0.06 0.20 0.24 0.21 0.23 - 0.01 0.66 0.28 0.32 0.29 0.30 - 0.02 0.80 0.26 0.30 0.27 0.29 - 0.01 0.44 0.35 0.40 0.37 0.39 + 0.01 0.57 0.02 unch 0.00 0.06 0.02 0.00 0.02 0.12 0.09 0.10 unch 0.00 0.12 0.06 0.07 unch 0.00 0.29 0.10 0.09 0.10 0.07 unch 0.00 0.21 0.07 0.07 0.07 0.03 0.18 0.16 0.18 + 0.01 0.58 0.00 0.14 0.12 0.14 + 0.00 0.45 0.32 unch 0.00 0.71 0.64 0.59 0.61 0.27 0.50 0.45 0.47 + 0.01 0.58 0.19 0.29 0.27 0.28 + 0.01 0.67 0.26 0.38 0.36 0.37 + 0.01 0.81 0.12 0.15 0.12 0.13 - 0.03 0.38 0.07 0.07 0.07 unch 0.00 0.15 0.05 0.07 unch 0.00 0.16 0.13 0.12 0.12 0.07 unch 0.00 0.20 0.19 0.16 0.18 2.16 2.48 2.40 2.48 + 0.01 3.10 0.20 unch 0.00 0.46 0.30 0.30 0.30 0.27 0.49 0.40 0.49 + 0.08 0.60 29.01 32.72 30.74 32.24 - 0.05 58.09 0.08 0.16 0.13 0.16 - 0.00 0.30 0.11 unch 0.00 0.37 0.21 0.19 0.21 0.09 0.08 0.08 - 0.01 0.13 0.05 0.07 0.06 0.06 - 0.00 0.11 0.03 0.03 0.03 0.00 0.03 - 0.00 0.09 0.04 0.06 0.05 0.05 - 0.01 0.12 0.00 0.02 0.02 0.02 + 0.00 0.09 0.02 0.04 0.03 0.04 + 0.01 0.12 0.07 0.10 0.10 0.10 + 0.01 0.16 0.03 unch 0.00 0.08 0.05 0.05 0.05 1.18 1.10 1.10 - 0.05 3.20 0.98 0.08 0.05 0.06 + 0.01 0.08 0.02 0.64 0.92 0.85 0.85 - 0.05 2.25 12.59 11.60 12.55 + 0.92 12.70 7.64 16.68 15.29 16.61 + 1.19 16.84 9.70 0.02 0.03 0.02 0.02 + 0.01 0.03 0.04 0.17 0.13 0.14 - 0.02 0.65 0.03 0.12 0.10 0.10 - 0.02 0.52 0.05 unch 0.00 0.50 0.06 0.05 0.06 0.04 0.04 0.04 0.04 + 0.00 0.39 0.29 0.36 0.31 0.33 - 0.02 1.13 0.80 1.20 1.01 1.20 + 0.16 2.47 0.03 0.06 0.03 0.04 - 0.02 0.23 0.02 unch 0.00 0.05 0.03 0.02 0.02 0.01 unch 0.00 0.04 0.02 0.01 0.02 0.16 0.27 0.24 0.25 - 0.02 0.38 0.12 0.20 0.18 0.18 - 0.02 0.29 0.02 0.05 0.05 0.05 - 0.00 0.30 0.01 unch 0.00 0.04 0.03 0.03 0.03 0.09 unch 0.00 0.28 0.11 0.10 0.10 0.11 0.10 0.10 unch 0.00 0.18 0.09 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 unch 0.00 0.44 0.10 0.10 0.10 0.60 0.85 0.77 0.83 + 0.01 2.01 0.02 0.04 0.02 0.02 - 0.01 0.10 0.17 0.22 0.20 0.20 - 0.01 0.62 0.12 0.16 0.00 0.16 + 0.01 0.48 0.02 0.03 0.02 0.02 - 0.01 0.08 0.00 0.00 0.00 0.00 + 0.00 0.01 0.22 0.28 0.23 0.27 + 0.00 0.42 0.31 0.36 0.31 0.36 + 0.01 0.50 0.16 unch 0.00 0.30 0.23 0.00 0.23 0.02 0.04 0.03 0.03 - 0.02 0.07 0.11 0.14 0.13 0.14 + 0.01 0.29 0.08 0.11 0.09 0.11 + 0.00 0.23 0.10 0.14 0.10 0.11 - 0.01 0.28 0.07 0.09 0.09 0.09 - 0.00 0.22 0.01 0.02 0.01 0.01 - 0.01 0.03 0.09 unch 0.00 0.52 0.10 0.09 0.09 0.12 0.38 0.33 0.36 + 0.01 0.40 25.81 32.27 30.87 32.02 + 0.02 42.55 35.53 43.28 41.23 42.35 - 0.14 55.47 0.03 unch 0.00 0.14 0.04 0.04 0.04 0.02 unch 0.00 0.18 0.00 0.00 0.03 0.50 0.55 0.55 0.55 + 0.00 1.28 0.67 0.74 0.00 0.70 - 0.03 1.62 0.02 unch 0.00 0.02 0.02 0.02 0.02 0.02 0.03 0.02 0.03 + 0.01 0.08 0.04 unch 0.00 0.26 0.08 0.08 0.08 0.02 0.04 0.02 0.04 + 0.01 0.36 0.04 unch 0.00 0.28 0.05 0.04 0.04 0.01 0.01 0.01 0.01 + 0.01 0.03 0.01 0.02 0.01 0.02 + 0.01 0.03 0.96 1.50 1.37 1.41 - 0.02 3.45

13776 Tahoe Res* N Tahoe Res T 1954 Taiga Gold 109 Taiga Gold* O 37 Taku Gold 9 Taku Gold* O 101 Talmora Diamd 20 Talon Metals T 678 13952 O Tamino Mnrls* V 174 Tanager Energy Tango Mining V 181 V 128 Tanqueray Expl Tantalex Res 44 Tanzania Rlty T 324 Tanzania Rlty* X 3238 Taranis Res* O 22 Taranis Res V 102 Tarku Res V 261 Tartisan Nick* O 40 Tartisan Nick 276 Tasca Res V 8023 X 1084 Taseko Mines* Taseko Mines T 707 Tearlach Res V 1243 T 6382 Teck Res T 5 Teck Res Teck Res* N 17182

2.18 3.69 3.42 3.60 - 0.05 5.63 2.88 4.87 4.54 4.76 - 0.08 7.27 0.07 0.14 0.10 0.13 + 0.02 0.21 0.05 0.10 0.08 0.08 + 0.01 0.16 0.04 0.07 0.00 0.07 + 0.02 0.15 0.02 unch 0.00 0.12 0.04 0.00 0.04 0.01 unch 0.00 0.06 0.03 0.03 0.03 0.05 0.11 0.08 0.09 + 0.01 0.12 0.00 0.00 0.00 0.00 + 0.00 0.00 0.03 0.03 0.14 0.07 - 0.10 0.07 0.02 unch 0.00 0.06 0.03 0.03 0.03 0.33 0.77 0.70 0.72 - 0.03 1.32 0.03 unch 0.00 0.21 0.05 0.05 0.05 0.34 0.65 0.41 0.63 + 0.20 0.89 0.25 0.50 0.30 0.48 + 0.15 0.68 0.03 0.08 0.05 0.07 - 0.00 0.10 0.05 0.11 0.07 0.09 - 0.02 0.12 0.02 0.04 0.04 0.04 - 0.01 0.06 0.04 0.06 0.06 0.06 - 0.01 0.09 0.02 0.08 0.06 0.07 - 0.01 0.16 0.04 0.07 0.04 0.04 - 0.01 0.13 0.44 0.60 0.55 0.59 + 0.01 1.94 0.60 unch 0.00 2.37 0.83 0.74 0.76 0.03 0.05 0.05 0.05 + 0.01 0.05 23.90 30.88 29.30 30.34 - 0.29 39.08 23.89 31.70 29.49 30.60 - 0.10 39.00 18.17 23.38 21.95 22.93 - 0.16 30.80

T

2019-01-28 2:47 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / FEBRUARY 4–17, 2019

Week

12-month

Exc Volume High Low Last Change High Low

Telson Res * O 18 Telson Res V 61 Tembo Gold V 134 Tembo Gold* O 236 Teranga Gold T 386 Teranga Gold* O 91 Teras Res V 334 Teras Res* O 125 Terraco Gold V 360 Terrax Mnrls* O 47 Terrax Mnrls V 364 Terreno Res V 50 661 Teslin Rvr Res V Tesoro Mnrls V 2 Tethyan Res V 255 Teuton Res V 96 Teuton Res* O 15 O 53 Texas Mineral* Themac Res V 6 Thor Expl V 9 Thunder Mtn Gd* O 5 V 490 Thunderstruck Thunderstruck* O 94 Tiger Intl V 8 Till Capital V 1 Timberline Res V 101 O 91 Timberline Res* Tinka Res V 126 Tinka Res* O 115 Tisdale Res V 45 Titan Mining* O 20 Titan Mining T 91 Titanium Corp V 24 TMAC Resource* O 5 TMAC Resources T 215 TNR Gold V 94 280 Toachi Mg Inc V TomaGold V 331 Tombstone Expl* O 2128 Tonogold Res* O 62 Torex Gold* O 34 Torex Gold T 1279 O 28 Torq Resources* Torq Resources V 214 Tower Res* O 4 Tower Res V 184 Transatlantic V 97 Transatlantic* O 0 Transition Met* O 84 Transition Met V 836 Treasury Metal T 196 Treasury Metal* O 31 248 Trecora Res* N Tres-Or Res V 707 Trevali Mng* O 394 Trevali Mng T 19462 339 Tri Origin Exp V Trifecta Gold* O 1 Trifecta Gold V 12 Trigen Res* O 49 Trilogy Mtls* X 734 Trilogy Mtls T 34 O 63 TriMetals Mng* TriMetals Mng* O 199 TriMetals Mng T 840 Trinity Res* O 0 Trinity Valley V 0

0.31 0.31 0.31 unch 0.00 0.74 0.25 0.44 0.00 0.44 + 0.04 1.00 0.35 0.03 0.00 0.02 - 0.01 0.04 0.01 0.02 0.01 0.02 - 0.00 0.03 0.01 3.89 3.62 3.85 + 0.20 5.63 3.12 2.95 2.69 2.95 + 0.12 4.33 2.40 0.06 0.00 0.06 + 0.01 0.10 0.04 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.08 0.07 0.07 - 0.01 0.10 0.06 0.36 0.33 0.33 - 0.00 0.46 0.25 0.50 0.42 0.45 + 0.03 0.57 0.33 0.04 0.04 0.04 - 0.01 0.10 0.02 0.50 0.46 0.49 + 0.03 0.57 0.33 0.00 0.00 0.05 unch 0.00 0.11 0.05 0.20 0.17 0.20 unch 0.00 0.39 0.14 0.15 0.13 0.14 unch 0.00 0.24 0.10 0.10 0.10 0.10 unch 0.00 0.18 0.07 0.22 0.20 0.21 - 0.01 0.35 0.10 0.04 0.00 0.04 + 0.01 0.10 0.03 0.16 0.16 0.16 + 0.02 0.22 0.13 0.09 0.09 0.09 - 0.00 0.22 0.04 0.08 0.07 0.08 + 0.01 0.12 0.04 0.07 0.05 0.07 + 0.01 0.15 0.03 0.13 0.13 0.13 unch 0.00 0.17 0.04 2.13 0.00 2.13 unch 0.00 5.01 1.74 0.12 0.09 0.09 - 0.02 0.27 0.07 0.10 0.06 0.08 + 0.01 0.23 0.00 0.35 0.33 0.34 unch 0.00 0.76 0.29 0.26 0.24 0.26 + 0.01 0.61 0.21 0.23 0.22 0.22 - 0.01 1.00 0.16 0.76 0.73 0.73 unch 0.00 1.05 0.70 1.07 0.98 1.01 - 0.01 1.57 0.87 0.60 0.53 0.53 - 0.05 1.44 0.48 4.49 0.00 4.35 - 0.14 8.25 3.07 5.88 5.47 5.80 - 0.05 10.65 3.95 0.04 0.03 0.03 unch 0.00 0.07 0.03 0.12 0.10 0.11 + 0.02 0.23 0.07 0.06 0.05 0.05 - 0.01 0.09 0.04 0.01 0.00 0.01 + 0.00 0.01 0.00 0.11 0.09 0.10 unch 0.00 0.35 0.00 10.86 10.07 10.58 + 0.30 11.80 5.73 14.44 13.42 13.99 + 0.39 14.58 7.29 0.28 0.27 0.27 - 0.00 0.56 0.25 0.38 0.35 0.38 + 0.01 0.70 0.32 0.02 0.02 0.02 unch 0.00 0.12 0.01 0.03 0.03 0.03 - 0.01 0.17 0.02 0.05 0.04 0.05 + 0.02 0.07 0.03 0.00 0.00 0.02 unch 0.00 0.05 0.02 0.10 0.07 0.08 - 0.02 0.14 0.07 0.11 0.09 0.09 - 0.02 0.20 0.06 0.32 0.28 0.30 - 0.03 0.60 0.21 0.25 0.22 0.23 - 0.02 0.48 0.16 8.88 8.41 8.63 - 0.02 15.60 6.69 0.02 0.00 0.02 unch 0.00 0.06 0.02 0.27 0.24 0.27 + 0.01 1.37 0.24 0.37 0.32 0.35 unch 0.00 1.69 0.32 0.02 0.02 0.02 + 0.01 0.04 0.01 0.04 0.00 0.04 - 0.00 0.10 0.03 0.07 0.00 0.06 - 0.01 0.13 0.05 0.26 0.22 0.25 + 0.02 1.01 0.19 2.15 2.03 2.12 + 0.05 2.34 1.05 2.84 2.74 2.78 + 0.03 3.00 1.32 0.06 0.05 0.06 + 0.00 0.23 0.04 0.03 0.02 0.03 + 0.01 0.18 0.02 0.05 0.04 0.04 unch 0.00 0.23 0.03 0.00 0.00 0.02 unch 0.00 0.20 0.01 0.00 0.00 0.04 unch 0.00 0.15 0.04

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Trio Resources* O 259 TriStar Gold* O 42 TriStar Gold V 31 Triumph Gold V 183 Triumph Gold* O 35 Troilus Gold T 3123 Troilus Gold* O 2 V 253 Troubadour Res Troy Enrgy V 50 Troy Res* O 3 Troymet Expl V 360 41 True Grit Res V True North Gem V 88 10 True North Gem* O Trueclaim Expl* O 160 V 926 Trueclaim Expl Tsodilo Res V 10 Tudor Gold V 41 Tudor Gold * O 2 Turquoise HIl T 3408 Turquoise HIl* N 18348 TVI Pacific* O 27 TVI Pacific V 121 Tyhee Gold* O 25 Typhoon Expl V 104

0.00 0.00 0.00 - 0.00 0.00 0.00 0.13 0.12 0.12 - 0.01 0.25 0.07 0.16 0.14 0.15 unch 0.00 0.33 0.09 0.42 0.39 0.42 + 0.01 0.80 0.27 0.31 0.00 0.31 + 0.00 0.60 0.22 0.70 0.63 0.70 + 0.05 2.16 0.40 0.50 0.00 0.49 - 0.04 1.59 0.45 0.10 0.09 0.10 + 0.01 0.25 0.09 0.04 0.04 0.04 unch 0.00 0.10 0.01 0.07 0.07 0.07 - 0.01 0.13 0.06 0.01 0.01 0.01 - 0.01 0.02 0.01 0.03 0.03 0.03 + 0.01 0.07 0.03 0.02 0.02 0.02 unch 0.00 0.15 0.01 0.01 0.00 0.00 - 0.01 0.05 0.00 0.07 0.07 0.07 unch 0.00 0.11 0.07 0.10 0.08 0.08 unch 0.00 0.28 0.07 0.32 0.30 0.30 - 0.02 0.65 0.19 0.28 0.27 0.27 unch 0.00 0.57 0.20 0.21 0.21 0.21 unch 0.00 0.46 0.15 2.28 2.06 2.20 + 0.04 4.37 1.94 1.70 1.54 1.66 + 0.04 3.34 1.43 0.01 0.00 0.01 + 0.01 0.02 0.00 0.01 0.01 0.01 + 0.01 0.02 0.01 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.05 0.04 0.05 + 0.01 0.10 0.03

U.S. Gold* D 322 U.S. Lithium* O 48 U3O8 Corp* O 25 U3O8 Corp T 123 Ubique Mineral 2 UC Res* O 0 Ucore Rare Mtl V 227 Ucore Rare Mtl* O 373 UEX Corp T 1408 Ultra Lithium* O 16 Ultra Lithium V 27 O 560 Umbral Enrgy* Unigold V 38 O 956 United Battery* United Battery 895 United Res Hdg* O 149 United States A* X 144 United States S* N 45050 Unity Metals V 187 Unity Metals* O 3 Universal Vent V 458 Ur-Energy* X 1263 Ur-Energy T 259 596 Uragold Bay Rs V Uranium Energy* X 3618 O 0 Uranium Hunter* Uranium Res* D 2692 Uravan Mnrls V 339 UrbanGold Min V 170 USCorp* O 60 Val-d’Or Mg* O 8 Val-d’Or Mg V 12 Vale* N 254888 Valley High Mg* O 3909 ValOre Metals* O 60 ValOre Metals V 949 Valterra Res* O 109 Valterra Res V 123 Vanadian Enrgy* O 4

1.10 1.01 1.05 - 0.04 2.90 0.74 0.54 0.29 0.42 - 0.08 1.44 0.09 0.19 0.00 0.16 - 0.02 0.36 0.13 0.26 0.00 0.20 - 0.05 0.50 0.19 0.20 0.00 0.20 + 0.05 0.25 0.06 0.00 0.00 0.00 unch 0.00 0.20 0.00 0.14 0.13 0.13 + 0.01 0.25 0.11 0.11 0.09 0.11 + 0.01 0.20 0.08 0.19 0.16 0.18 + 0.02 0.35 0.14 0.09 0.08 0.08 - 0.00 0.26 0.05 0.11 0.10 0.11 + 0.02 0.42 0.08 0.18 0.15 0.18 + 0.02 0.60 0.11 0.16 0.14 0.16 + 0.01 0.27 0.13 0.08 0.05 0.08 + 0.02 1.58 0.05 0.10 0.00 0.10 + 0.02 1.68 0.07 0.03 0.01 0.03 + 0.02 0.07 0.01 0.70 0.63 0.67 - 0.00 1.05 0.23 21.74 20.31 21.64 + 0.14 47.64 17.09 0.80 0.00 0.80 + 0.20 0.70 0.10 0.33 0.33 0.33 unch 0.00 0.33 0.09 0.38 0.34 0.38 + 0.04 0.63 0.29 0.70 0.65 0.70 + 0.02 0.93 0.54 0.92 0.87 0.92 + 0.03 1.19 0.74 0.07 0.06 0.06 unch 0.00 0.12 0.06 1.32 1.21 1.29 unch 0.00 1.89 1.12 1.15 0.00 1.15 + 0.20 1.70 0.26 0.16 0.13 0.14 - 0.01 1.04 0.13 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.11 0.11 0.11 unch 0.00 0.15 0.10 0.00 0.00 0.00 - 0.00 0.02 0.00 0.07 0.00 0.06 unch 0.00 0.10 0.06 0.10 0.00 0.10 unch 0.00 0.14 0.10 15.45 12.85 13.66 - 0.95 16.13 11.93 0.01 0.01 0.01 - 0.00 0.02 0.00 0.15 0.00 0.00 - 0.15 0.48 0.00 0.21 0.18 0.19 - 0.01 0.90 0.11 0.02 0.01 0.02 + 0.00 0.04 0.01 0.03 0.02 0.03 + 0.01 0.04 0.02 0.06 0.00 0.06 + 0.01 0.13 0.01

U-V

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

V 155 Vanadian Enrgy V 330 Vanadium One O 160 Vanadiumcorp* V 485 Vanadiumcorp Vanstar Mng Rs* O 250 540 Vanstar Mng Rs V 2 Vantex Res * O Vantex Res V 45 Vatic Vent V 479 Vatic Vent* O 32 N 3061 Vedanta* O 5 Velocity Mnrls* Velocity Mnrls V 129 Vendetta Mng V 4110 O 303 Vendetta Mng* Verde Potash T 51 Veris Gold* O 3 Vertical Expl V 143 Victoria Gold V 5665 Victory Nickel 19 O 3 Victory Nickel* Victory Res V 8 O 55 Virginia Enrgy* Virginia Enrgy V 67 Viscount Mng V 77 91 Visible Gold M V Vision Lithium V 411 O 48 Vision Lithium* Vista Gold* X 818 Vista Gold T 45 Viva Gold* O 77 Viva Gold V 57 Vizsla Res V 21 Volcanic Gold V 187 O 4 Volcanic Gold* Volt Energy V 4 Voltaic Min V 143 O 18 Voyageur Min* Voyageur Min V 51 O 4 VR Resources* VR Resources V 16 Vulcan Mnrls V 26 VVC Expl V 338

0.06 0.08 0.08 0.08 - 0.01 0.18 0.04 0.16 0.14 0.14 - 0.01 0.29 0.01 0.06 0.05 0.05 - 0.01 0.15 0.06 unch 0.00 0.16 0.08 0.07 0.07 0.11 0.11 0.11 unch 0.00 0.13 0.07 0.14 0.12 0.13 - 0.01 0.18 0.07 0.13 0.13 0.13 unch 0.00 0.24 0.05 0.14 0.19 0.15 0.18 + 0.03 0.58 0.06 unch 0.00 0.32 0.10 0.08 0.09 0.01 0.06 0.03 0.06 - 0.00 0.64 10.26 11.37 10.62 11.07 - 0.23 21.99 0.09 unch 0.00 0.18 0.17 0.17 0.17 0.13 0.23 0.21 0.22 + 0.01 0.25 0.13 0.17 0.13 0.15 + 0.01 0.26 0.10 0.12 0.10 0.11 + 0.01 0.20 0.53 0.75 0.72 0.72 - 0.03 1.25 0.00 unch 0.00 0.01 0.00 0.00 0.00 0.06 unch 0.00 0.21 0.09 0.09 0.09 0.30 0.51 0.43 0.50 + 0.07 0.51 0.01 unch 0.00 0.07 0.03 0.00 0.03 0.01 unch 0.00 0.05 0.02 0.02 0.02 0.08 unch 0.00 0.49 0.12 0.11 0.11 0.07 0.14 0.12 0.13 - 0.00 0.28 0.09 0.18 0.16 0.18 - 0.01 0.36 0.15 unch 0.00 0.38 0.23 0.21 0.23 0.07 0.07 0.07 unch 0.00 0.17 0.04 0.08 unch 0.00 0.71 0.13 0.10 0.11 0.07 0.10 0.09 0.10 - 0.00 0.55 0.37 0.64 0.54 0.64 + 0.01 0.87 0.56 0.83 0.76 0.83 - 0.01 1.12 0.21 0.25 0.22 0.23 - 0.02 0.40 0.21 0.30 0.25 0.30 - 0.02 0.50 0.13 0.20 0.13 0.15 - 0.05 0.20 0.02 0.05 0.04 0.04 - 0.01 0.27 0.02 unch 0.00 0.17 0.02 0.02 0.02 0.03 unch 0.00 0.58 0.00 0.00 0.04 0.13 0.20 0.13 0.14 - 0.01 0.50 0.04 unch 0.00 0.10 0.10 0.10 0.10 0.05 0.11 0.10 0.11 + 0.01 0.12 0.13 0.14 0.14 0.14 - 0.00 0.35 0.16 0.17 0.17 0.17 + 0.01 0.43 0.04 0.01 0.07 0.04 - 0.05 0.04 0.02 unch 0.00 0.07 0.03 0.03 0.03

Walker Lane* O 0 Walker River V 616 T 2896 Wallbridge Mng Warrior Gold* O 0 Warrior Gold V 2 Waseco Res V 375 Wealth Mnrls V 635 Wealth Mnrls* O 809 V 70 Wescan Gldflds O 438 Wesdome Gold* T 2034 Wesdome Gold West African V 576 57 West High Yld V West Kirkland V 741 58 West Kirkland * O 205 West Red Lake 22 West Red Lake* O O 4 Western Areas* Western Atlas V 92 T 656 Western Copper X 857 Western Copper*

0.05 unch 0.00 0.40 0.34 0.00 0.34 0.05 0.08 0.06 0.08 + 0.01 0.09 0.06 0.19 0.17 0.18 - 0.01 0.35 0.03 unch 0.00 0.17 0.00 0.00 0.04 0.04 0.09 0.00 0.09 + 0.01 0.22 0.02 unch 0.00 0.06 0.03 0.02 0.02 0.37 0.47 0.40 0.47 + 0.05 2.00 0.27 0.36 0.30 0.36 + 0.04 1.55 0.01 unch 0.00 0.10 0.04 0.04 0.04 1.31 3.55 3.12 3.47 + 0.26 3.79 1.71 4.64 4.16 4.57 + 0.30 4.75 0.14 0.22 0.20 0.22 + 0.02 0.48 0.40 0.36 0.36 unch 0.00 0.60 0.20 0.04 0.07 0.05 0.06 + 0.01 0.09 0.05 0.04 0.05 + 0.01 0.07 0.03 0.10 0.07 0.10 + 0.03 0.15 0.05 0.06 0.05 0.06 + 0.01 0.12 0.03 1.27 unch 0.00 2.82 1.56 1.52 1.52 0.05 unch 0.00 0.30 0.07 0.06 0.07 0.52 0.97 0.78 0.91 + 0.14 1.30 0.35 0.82 0.56 0.70 + 0.10 1.02

W-Z

(100s) Stock

Week

23

12-month

Exc Volume High Low Last Change High Low

Western Pac Rs V 12 9 Western Pac Rs* O Western Potash T 98 Western Res* O 6 Western Troy C* O 20 Western Troy C V 56 Western U&V 68 O 99 Western U&V* Westhaven Vent* O 337 V 4837 Westhaven Vent Westkam Gold* O 205 V 401 Westkam Gold Westminster Rs V 155 Westmoreland* O 265 Wheaton Prec M T 2879 Wheaton Prec M* N 8207 White Gold V 395 White Gold* O 120 White Metal R* O 500 180 White Metal Rs V White Mtn Engy* O 58 Whitehaven Coa* O 2 V 3 Whitemud Res Wildsky Res* O 0 Wildsky Res V 0 Winston Gold* O 21 Winston Gold 11 Winston Res 48 Wolfden Res* O 21 Wolfden Res V 190 Wolfeye Res V 501 Worldwide Res* O 11 Worldwide Res V 213 X-Terra Res V 93 X-Terra Res* O 0 Xanadu Mines T 50 Xander Res V 218 Xiana Mng V 250 Xiana Mng* O 2 Ximen Mng* O 14 Ximen Mng V 1724 Xtierra Inc V 2323 Xtra-Gold Res* O 5 Xtra-Gold Res T 159 10865 Yamana Gold T Yamana Gold* N 53617 Yellowhead Mng* O 1 V 6 Yellowhead Mng Yorbeau Res T 1305 You Han Data* O 0 Zadar Ventures* O 25 V 1897 Zadar Ventures Zanaga Iron* O 465 Zanzibar Gold 9 V 194 ZEN Graphene O 55 ZEN Graphene* Zephyr Mnls V 128 Zephyr Mnls* O 196 Zimtu Capital V 208 414 Zinc One Res V Zinc One Res * O 135 ZincX Res V 139 ZincX Res* O 87 Zonte Metals V 83 Zonte Metals* O 31

0.45 0.45 0.45 unch 0.00 1.20 0.40 0.60 0.35 0.35 - 0.25 0.62 0.01 0.28 0.26 0.27 - 0.01 0.45 0.21 0.20 0.00 0.20 + 0.01 0.35 0.15 0.01 0.00 0.01 unch 0.00 0.02 0.01 0.10 0.00 0.06 + 0.06 0.20 0.03 1.69 1.43 1.46 + 0.02 3.32 0.44 1.25 1.07 1.12 + 0.05 2.70 0.96 0.91 0.51 0.56 - 0.35 1.03 0.08 1.08 0.69 0.75 - 0.45 1.43 0.11 0.01 0.00 0.00 - 0.00 0.04 0.00 0.01 0.01 0.01 unch 0.00 0.05 0.01 0.05 0.00 0.05 unch 0.00 0.25 0.03 0.02 0.01 0.02 - 0.00 1.22 0.01 25.99 24.75 25.89 + 0.64 29.93 19.87 19.62 18.54 19.57 + 0.56 22.87 15.08 1.61 1.35 1.47 - 0.03 2.00 0.54 1.13 1.02 1.11 - 0.01 1.44 0.46 0.00 0.00 0.04 unch 0.00 0.19 0.02 0.05 0.05 0.05 unch 0.00 0.25 0.04 0.00 0.00 0.00 + 0.00 0.00 0.00 3.15 3.15 3.15 unch 0.00 4.37 3.15 0.00 0.00 0.01 unch 0.00 0.05 0.01 0.00 0.00 0.08 unch 0.00 0.77 0.05 0.00 0.00 0.08 unch 0.00 1.01 0.08 0.03 0.02 0.03 + 0.00 0.09 0.02 0.04 0.00 0.04 unch 0.00 0.09 0.03 0.03 0.00 0.02 - 0.01 0.24 0.02 0.20 0.18 0.18 + 0.00 0.56 0.13 0.27 0.22 0.23 - 0.02 0.68 0.18 0.93 0.75 0.76 - 0.12 1.50 0.50 0.03 0.03 0.03 unch 0.00 0.03 0.02 0.04 0.03 0.03 unch 0.00 0.07 0.03 0.12 0.11 0.12 - 0.01 0.25 0.09 0.00 0.00 0.07 unch 0.00 0.20 0.07 0.14 0.11 0.14 + 0.03 0.17 0.11 0.09 0.09 0.09 unch 0.00 0.20 0.03 0.55 0.55 0.55 unch 0.00 0.70 0.21 0.33 0.33 0.33 unch 0.00 0.55 0.18 0.48 0.38 0.48 + 0.10 10.27 0.10 0.64 0.50 0.63 + 0.13 0.64 0.14 0.06 0.00 0.05 + 0.01 0.08 0.04 0.31 0.25 0.25 - 0.06 0.45 0.11 0.39 0.29 0.35 - 0.01 0.47 0.20 3.43 3.07 3.41 + 0.35 4.63 2.66 2.59 2.29 2.57 + 0.26 3.76 2.00 0.64 0.63 0.63 - 0.00 0.68 0.10 0.90 0.00 0.85 unch 0.00 0.98 0.10 0.03 0.03 0.03 unch 0.00 0.07 0.02 0.88 0.00 0.88 + 0.03 2.80 0.75 0.02 0.02 0.02 unch 0.00 0.08 0.02 0.03 0.02 0.02 - 0.01 0.10 0.02 0.14 0.14 0.14 unch 0.00 0.14 0.14 0.15 0.15 0.15 + 0.01 0.20 0.10 0.62 0.51 0.53 - 0.07 0.84 0.34 0.47 0.44 0.45 - 0.00 0.65 0.27 0.21 0.17 0.18 - 0.01 0.30 0.15 0.14 0.12 0.14 - 0.01 0.22 0.11 0.27 0.23 0.25 + 0.03 0.40 0.20 0.10 0.09 0.09 unch 0.00 0.55 0.07 0.07 0.06 0.06 - 0.01 0.45 0.04 0.21 0.00 0.20 - 0.01 0.75 0.18 0.16 0.14 0.16 + 0.00 0.56 0.14 0.31 0.00 0.29 - 0.01 0.41 0.16 0.25 0.22 0.22 - 0.02 0.30 0.12

BID-ASK — JANUARY 21–25, 2019

STOCK

12-MONTH

EXC BID ASK LAST HIGH

African Metals Aguia Resource Alba Minerals Alchemist Mng Alexandra Cap Allante Res Alliance Mng Altiplano Met Altitude Res American CuMo Anglo-Bomarc Angus Ventures Antler Hill Archon Mineral Arrowstar Res Asbestos Corp Asian Mineral Astorius Res Astur Gold Atlanta Gold AurCrest Gold Aurelius Min Aurex Energy Austin Res Awale Res Aztec Minerals Balto Res Banro Corp* BC Moly Bethpage Cap BHK Mining Black Bull Res Boss Power Brunswick Res Buccaneer Gold Buffalo Coal Bullion Gold Bullman Min Cairo Res Camrova Res Canada Coal Canadian Silv Canex Energy Canoe Mng Vent Caracara Silvr Carlin Gold Cascadero Copp Cassius Vents Cautivo Mining Cerro de Pasc Chinapintza Mg CIM Intl Grp Cliffs Nat Res* Clydesdale Res Colombia Crest Copper Lake Rs Copper Reef Mg Cresval Cap Cyntar Venture Cyprium Mng Damara Gold Dawson Gold Discovery Harb Discovery-Corp DV Resources EastCoal Inc Edgewater Expl Electra Stone European Metal Eurotin EVI Global Grp Evolving Gold Excalibur Res Fengro Industr Fieldex Expl Finore Mng Fire River Gol First Idaho Fort St J Nick Four Nines Freedom Egy Freeport Res Frontline Gold

V V V C C V V V V V V V 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 V V V C C V C N V V V C V C V V V V V V V V V C V C C C V V C V V V C V V V

20-23_FEB4_StockTables.indd 23

0.06 0.09 0.06 0.13 0.15 0.14 0.43 0.15 0.16 0.16 0.28 ... 0.03 0.06 0.19 ... ...

0.50 0.93 0.12 0.18 0.13 0.20 0.01 0.02 0.02 0.05 0.16 0.19 0.19 0.54 0.11 0.11 0.05 0.09 0.06 0.07 0.06 0.13 0.08 0.08 0.15 0.16 ... ...

0.42 0.50 0.02 ...

0.10 0.20 0.58 1.10 0.66 1.31 0.02 0.12 0.12 0.12 0.31 0.75 0.35 0.90 0.37 0.77 0.35 6.00 0.03 0.04 0.04 0.15 0.19 0.24 0.19 0.31 0.04 0.04 0.04 0.07 0.02 0.02 0.02 0.04 0.13 0.14 0.14 0.15 ... ...

0.65 1.30 0.01 0.02 0.02 0.04 0.08 0.13 0.06 0.42 0.18 0.21 0.19 0.38 0.08 0.12 0.08 0.38 0.11 0.11 0.11 2.10 0.03 0.08 0.03 0.16 0.01 ...

0.07 0.10 0.02 0.02 0.02 0.10 0.18 0.10 0.17 0.20 0.17 0.02 0.03 0.02 0.05 0.02 0.04 0.03 0.18 0.01 0.02 0.01 0.03 0.06 0.15 0.10 0.47 0.06 0.11 0.06 0.09 0.30 0.41 0.27 0.42 0.06 0.08 0.07 0.11 0.03 0.04 0.03 0.12 0.01 0.06 0.06 0.09 0.16 0.20 0.17 0.40 0.03 0.30 0.14 0.18 0.05 0.20 0.11 0.20 0.02 0.02 0.02 0.04 0.03 0.04 0.03 0.15 0.06 0.12 0.06 0.08 0.10 0.12 0.10 0.50 ... ...

0.29 0.34 0.01 0.01 0.01 0.02 0.19 0.23 0.19 0.32 1.45 3.20 1.43 7.17 0.04 0.15 0.03 0.15 0.05 0.06 0.05 0.40 0.02 0.02 0.02 0.10 0.02 0.02 0.02 0.03 ... 0.20 0.05 0.07 ...

0.09 0.15 0.03 0.03 0.03 0.04 0.05 0.05 0.07 0.01 0.30 0.30 0.04 0.05 0.04 0.08 0.01 0.02 0.01 0.03 0.08 0.10 0.08 0.50 0.10 0.15 0.10 0.30 0.12 0.17 0.10 0.18 0.01 0.02 0.01 0.03 ... 0.01 0.01 0.02 0.09 0.10 0.13 0.58 0.63 0.63 0.70 0.08 0.08 0.08 0.17 0.09 0.10 0.10 0.11 0.04 0.05 0.04 0.26 0.16 0.16 0.19 0.12 0.12 0.11 0.03 0.07 0.09 0.05 0.25 0.04 0.06 0.28 0.31 0.31 0.59 0.26 0.35 0.31 0.80 0.02 0.03 0.02 0.09 0.08 0.09 0.09 0.10 0.01 0.02 0.01 0.03

LOW

0.10 0.04 0.04 0.25 0.06 0.01 0.09 0.04 0.05 0.06 0.33 0.07 0.62 0.05 0.33 0.30 0.03 0.19 0.04 0.01 0.03 0.39 0.01 0.06 0.14 0.05 0.10 0.03 0.07

0.02 0.03 0.01 0.09 0.06 0.24 0.06 0.03 0.04 0.11 0.11 0.08 0.02 0.03 0.03 0.08 0.12 0.01 0.19 0.98 0.02 0.04 0.01 0.02 0.08 0.04 0.04 0.01 0.08 0.10 0.10 0.01 0.01 0.16 0.07 0.01 0.04

0.02 0.20 0.10 0.02 0.05 0.01

STOCK

12-MONTH

EXC BID ASK LAST HIGH LOW

Full Metal Mnl V V Fusion Gold V Gem Intl Res Gentor Res V Gespeg Cop Res V Getty Copper V V GFM Res Global Cop Grp V GobiMin V God’s Lake Res C Goldbelt Emp V Golden Pursuit V Great Quest Fe V Grenville Gold C Grosvenor Res V Handa Mining V V Helio Res HFX Holding V Highbury Proj V Highvista Gold V Hinterland Mtl V V Hunt Mng Icon Explor V Indigo Expl V Infinite Lith V V Inform Res Inspiration Mg C Inter-Rock Mnl V Interconnect V Intl Battery C Intl Corona V Intl Millm Mng V V Iron South Mng Jasper Mining V JDF Explor Inc C Jubilee Gold V Kal Minerals C Kenna Res V La Imperial C Legion Metals C C Leo Res Lithion Energy V Logan Res V Los Andes Copp V Lovitt Res V V Lund Enterpr Madeira Mrnls V X MAG Silver* Magna Gold V Magnitude Mng V Manado Gold V Margaret Lake V Martina Mnls V Mas Gold V Matachewan Con V MAX Res V Mazarin V MBMI Res V Mega Copper V Mesa Expl V Metron Capital V Mezzotin Mnrls V Micrex Dev V MillenMin Vent V Millstream Min V Minecorp Egy V Minera IRL C Mineral Hill V Minfocus Expl V Minsud Res V MK2 Ventures V Monster Uran V Montana Gold C Montero Mg&Ex V Mountain Lake C MX Gold V Navy Res V Nebu Res V Nevado Res V New Jersey Mng C New Klondike V New Stratus V Newmac Res V

0.10 ...

0.10 0.13 0.12 0.29 0.12 0.30 0.01 0.02 0.02 0.02 0.06 0.07 0.06 0.12 0.04 0.04 0.03 0.05 0.02 0.03 0.03 0.07 0.05 0.10 0.04 0.15 0.07 0.08 0.08 0.11 0.19 0.34 0.24 0.42 ... ...

0.90 1.10 0.02 0.02 0.02 0.03 0.10 0.12 0.11 0.21 0.01 0.01 0.10 0.18 0.28 0.38 0.38 0.70 0.11 0.20 0.12 0.20 0.04 0.05 0.05 0.09 0.07 0.10 0.08 0.38 0.05 ...

0.06 0.10 0.21 0.48 0.22 0.35 ... ...

0.17 0.02 0.03 0.03 0.05 0.16 0.21 0.16 0.50 ... 0.41 0.41 0.01 0.02 0.02 0.04 0.26 0.29 0.28 0.32 0.06 0.07 0.07 0.25 0.03 0.03 0.03 0.20 0.26 0.30 0.28 0.59 0.07 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 0.09 0.13 0.09 0.29 0.01 ...

0.05 0.15 0.41 0.70 0.64 0.67 0.12 0.30 0.12 0.20 0.13 0.16 0.15 0.04 0.05 0.07 0.08 0.12 0.58 0.17 0.18 ... ...

1.09 ... ...

0.10 0.03 0.06 0.06 0.06 0.20 0.27 0.24 0.35 0.08 0.13 0.10 0.25 0.13 0.13 0.13 0.25 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 0.15 0.04 0.05 0.04 0.16 0.04 0.10 0.04 0.06 0.07 0.13 0.09 0.12 0.16 0.24 0.24 0.30 0.24 0.24 0.20 0.32 0.08 0.12 0.10 0.18 0.02 0.04 0.03 0.13 0.16 0.22 0.16 0.18 0.02 0.02 0.06 0.08 0.06 0.10 0.06 0.08 0.01 0.01 0.01 0.04 0.02 0.02 0.01 0.02 0.01 0.50 0.05 0.04 0.06 0.04 ... ...

0.12 0.20 0.05 0.08 0.06 0.12 0.12 0.15 0.15 0.27 0.04 0.05 0.05 0.32 0.06 0.10 0.08 0.21 0.17 0.34 0.22 0.39 0.15 0.41 0.15 0.48 0.09 0.10 0.10 0.10 0.08 0.10 0.10 0.34 ... ...

0.05 0.09 0.11 0.11 0.11 0.15 0.21 0.15 0.32 0.04 0.04 0.04 0.14 0.24 0.12 0.90 0.17 0.33 0.17 0.26 0.01 0.01 0.01 0.25 ...

0.40 0.40 0.06 0.09 0.07 0.10

0.10 0.11 0.02 0.06 0.02 0.02 0.04 0.04 0.20 0.22 0.02 0.06 0.06 0.12 0.12 0.03 0.06 0.05 0.21 0.02 0.10 0.01 0.12 0.06 0.02 0.20 0.04 0.03 0.02 0.04 0.08 0.01 0.40 0.12 0.07 0.05 0.06 0.15 0.04 0.11 0.02 6.12 0.20 0.14 0.04 0.02 0.04 0.04 0.15 0.14 0.04 0.02 0.16 0.03 0.05 0.01 0.01 0.07 0.05 0.09 0.03 0.05 0.15 0.13 0.02 0.07 0.03 0.15 0.09 0.15 0.10 0.06

STOCK

12-MONTH

EXC BID ASK LAST HIGH LOW

Nickel North V OK2 Minerals V Omineca Mining V Opawica Expl V Opus One Res V Orestone Mng V Oriental Non F C Pac Cascade V Pacific Silk V Patriot Gold C Pele Mtn Res V Peloton Mnrls C Philippine Mtl V Phoenix Gold V Pinecrest Res V Plate Res V Prime Meridian V Prism Res V Prize Mng V Quadro Res V Quantum Cobalt C Quartz Mtn Res V Rackla Mtls V Rare Element* X Razore Rock Res C V Red Oak Mg Red Tiger Mng V Regency Gold V Reliant Gold C Remington Res V Rhyolite Res V Riley Resource V V Rio Silver River Wild Exp C Rockland Mnls V Rosita Mg Corp V Ross River V Rotation Mnls V Rubicon Mnrls* X Sage Gold V Samco Gold V Sandy Lake Gld V Sennen Potash V Shine Minerals V Silver Mtn Mns V Silver Phoenix C Silver Predatr V Sixty North C SouthGobi Res T Starr Peak Exp V V Stelmine Can Superior Mng V V Surge Explor Tajiri Res V Tanzania Mnls V Tesoro Mnrls V Thunder Mtn Gd V Tintina Mines V Tri-River Vent V Trident Gold V Trinity Valley V V Troy Enrgy UC Res V Upper Canyon V UrbanGold Min V Vale* N ValOre Metals V Vanadium One V Vangold Res V Vela Minerals V Venerable Vent V Volt Energy V Waseco Res V Westcot Vent V Whistler Gold V Wildsky Res V Xander Res V Xiana Mng V Zara Res C Zena Mining V Zenith Explor C Zinco Mng V Zincore Mtls V

0.02 0.02 0.02 0.07 0.02 0.02 0.02 0.06 0.02 0.03 0.02 0.05 0.05 0.06 0.05 0.20 0.03 0.03 0.03 0.10 0.10 0.12 0.10 0.17 ... ...

1.00 1.05 0.01 0.02 0.01 0.02 0.03 0.02 0.06 0.05 ...

0.10 0.10 0.02 0.03 0.04 0.07 0.09 0.10 0.10 0.15 0.04 0.05 0.05 0.13 ... 0.01 0.01 0.22 0.27 0.22 0.32 0.04 0.05 0.05 0.10 0.01 0.50 0.14 0.03 0.04 0.03 0.11 0.04 0.04 0.04 0.35 0.03 0.04 0.04 0.10 ... ...

1.10 3.15 0.29 0.40 0.29 0.80 0.08 0.13 0.09 0.15 0.11 0.16 0.15 0.89 0.08 0.30 0.07 0.27 0.05 0.33 0.33 0.34 0.02 0.03 0.03 0.16 0.19 0.20 0.28 ... 0.01 0.02 0.04 0.20 0.25 0.20 0.40 0.15 0.20 0.15 0.29 0.15 0.25 0.17 0.41 0.03 0.05 0.04 0.07 0.56 0.75 0.55 0.70 0.07 0.08 0.08 0.11 0.03 0.03 0.03 0.12 ...

0.14 0.26 0.50 0.10 0.10 0.08 0.40 ... ...

0.03 1.35 0.01 0.01 0.02 0.12 0.02 0.03 0.03 0.11 0.08 0.08 0.09 0.13 0.45 0.45 0.45 0.55 0.09 ...

0.14 0.16 0.02 0.02 0.02 0.03 0.10 0.12 0.09 0.22 0.08 0.09 0.09 0.14 0.05 0.07 0.06 0.24 0.09 0.15 0.14 0.18 0.10 0.15 0.10 0.18 0.10 0.12 0.10 0.44 0.06 0.06 0.10 0.10 0.39 0.44 0.39 0.23 0.09 0.17 0.08 0.18 0.07 0.08 0.16 1.20 0.05 0.06 0.05 0.11 ... ...

0.17 0.30 0.04 0.08 0.05 0.10 ... ...

0.04 0.14 0.25 0.14 0.20 0.04 0.05 0.04 0.15 0.04 0.05 0.04 0.10 0.01 0.02 0.02 0.03 ... 0.35 0.25 0.40 0.10 0.11 0.11 0.15 ... ...

10.24 11.10 0.06 0.07 0.07 0.13 0.13 0.15 0.13 0.03 0.03 0.02 0.25 0.18 0.30 0.30 0.30 0.08 0.15 0.10 0.13 0.04 0.05 0.04 0.58 0.02 0.03 0.02 0.06 ... ...

0.35 0.50 0.06 0.10 0.06 0.08 0.08 0.15 0.08 1.01 0.05 0.09 0.09 0.20 0.49 0.59 0.55 0.70 0.05 ...

0.07 0.24 0.06 0.08 0.06 0.12 0.05 ...

0.04 0.04 0.05 0.07 0.05 0.04 0.07 0.05 0.17

0.02 0.02 0.02 0.03 0.02 0.06 1.00 0.02 0.10 0.03 0.03 0.04 0.18 0.03 0.03 0.04 0.03 0.20 0.27 0.06 0.06 0.06 0.08 0.14 0.02 0.20 0.15 0.10 0.04 0.02 0.01 0.03 0.10 0.07 0.03 0.01 0.02 0.04 0.36 0.08 0.01 0.02 0.07 0.05 0.10 0.09 0.09 0.04 0.03 0.05 0.12 0.05 0.14 0.02 0.14 0.04 0.01 0.01 0.15 0.10 6.57 0.07 0.02 0.18 0.10 0.03 0.02 0.23 0.06 0.08 0.03 0.21 0.07 0.05 0.04 0.03

2019-01-28 2:47 PM

24_FEB4_BackCover.indd 24

2019-01-29 5:07 PM