The Northern Miner January 20 2020 Issue 2 by The Northern Miner Group

EDITORIAL: CANADIANS MOURN LOSS ON FLIGHT PS752 / 4 Geotech_Earlug_2016_Alt2.pdf 1 2016-06-24 4:27:20 PM

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Consolidation will continue in the gold sector, B of A says M&A

| Production profiles are under pressure BY TRISH SAYWELL tsaywell@northernminer.com

new report from Bank of America Securities puts the total deal value of global gold mergers and acquisitions last year at US$20.19 billion — the highest in nine years — with the senior producers mainly active as sellers and the mid-tiers as buyers, and the bank says it sees potential for further consolidation in the sector this year. Years of underinvestment and rising pressure on production profiles are key factors. The global gold producers “face the daunting task of replenishing reserves mined,” the bank’s analysts note, and “mid-tier producers not involved in M&A risk being ‘left behind’ by their rapidly growing peers.” An “unintended consequence of the non-core asset sales was to create larger, more liquid mid-tier gold producers coming to the attention of global gold investors,” the report states. “With more non-core asset sales on the table, this trend will likely continue in 2020.” In addition, B of A points out that there are “too many midsize (US$0.5 billion to $US4 billion) gold vehicles with undifferentiated investment cases.” According to the bank, acquisition prices last year, on average, relative to prevailing gold prices, “were at the lowest levels since 2013,” making it a good year to be a buyer. “The average reserve price in 2019 for companies was US$1,132 per oz. — a steep 19% discount to the prevailing spot gold price at the time of the transactions,” the report states. “This was well below the historical median of -2.6% for company transactions over the prior 1998–2018 period.” Of the 33 deals in 2019, 15 innorthern-miner_wide.pdf

volved gold companies, six involved mines and 12 development projects. By contrast, of the 31 transactions in 2018, 16 involved companies, nine mines and six development projects. “These were both well below the frenetic pace of deal activity levels in 2009–2012 (greater than 50 deals a year),” which the bank attributes to a gold price “that was well below the high levels of 2011–2012.” Breaking down the years based on transaction values, 2019’s US$20.19 billion was double 2018’s US$10.46 billion, and significantly higher than 2017’s US$5.87 billion. The US$10 billion all-share merger of Newmont and Goldcorp dominated 2019’s figures, while the US$6.1-billion, all-share Barrick–Randgold merger dominated 2018’s figures. Drilling into the data further, companies based in Canada and Australia made up 68% of the 2019 deals, while mid-tier gold producers were buyers for 10 of the 14 company and mine transactions with reserves last year. “In our view, an overarching theme was to become a +1 million oz. gold producer (Kirkland Lake, Northern Star, Evolution and Equinox), which could lead to a higher valuation multiple (maybe not),” B of A writes. The bank also points out that the focus in last year’s deals, as in those in 2018, were reserve assets. “For 2019, 58% of all transactions were for assets with reserves, lower year-on-year versus 70% in 2018,” the report states. “Since the nadir in 2011, when less than 40% of all transactions were for reserves only, the bias to reserve-only purchases has been in a steady uptrend.” In terms of development project assets, 42% of the transactions last year were in production, compared with 60% in 2018. TNM 2019-10-07

A portal for the Andes Norte expansion project at Codelco’s El Teniente copper mine in Chile. CODELCO

State-owned Codelco struggles to maintain output COPPER

| Aging assets require massive gov’t investment

BY TOM AZZOPARDI

Special to The Northern Miner

n October, the wheels started turning on one of the world’s largest conveyor systems. Once in full operation, 14 km of belts will bring 140,000 tonnes of ore a day to surface from huge tunnels carved out beneath Codelco’s giant Chuquicamata pit in northern Chile. The operation represents the future of Chile’s mining industry, Chilean President Sebastian Pinera said at its inauguration in August. “This is a leap forward, not just in terms of the 140,000 tonnes a day, but how it is produced,” Pinera said. Highly automated and run from a state-of-the-art control centre, the US$5-billion project is the latest investment by Chile’s state copper company to keep its giant mines in production for decades to come. But despite the celebratory mood at Chuquicamata, Codelco’s future looks more uncertain than ever.

The company’s output (1.7 million tonnes annually) could fall by more than half in less than a decade unless it undertakes gigantic projects at its aging mines, management warns. “It is key to Codelco to realize these structural projects in order to continue contributing to the country for the next 50 years,” the company’s CEO Octavio Araneda stated recently. The company has plenty of copper left to dig up — almost 7 billion tonnes of reserves, according to its latest estimate. In the past, these huge figures have tempted Codelco executives to dream of expansion. In 2006, then CEO Juan Villarzu predicted production could hit 2 million tonnes annually by 2016. But his successors have repeatedly pushed back that target, first to 2019, then 2021, and most recently 2026, before scrapping it altogether. Why? For a start, aging infrastructure (Chuquicamata and El Teni-

ente are both more than a century old) and falling ore grades mean that it is a struggle for Codelco to keep producing the same amount See CODELCO / 8 PM40069240

2:33 PM

CMY

EGYPT: ENDEAVOUR MINING WALKS AWAY FROM TAKEOVER TALKS / 3

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Endeavour Mining walks away from takeover talks with Centamin EGYPT

BY CECILIA JAMASMIE

Special to The Northern Miner

ndeavour Mining (TSX: EDV) has walked away from a potential 1.47 billion lb. (US$1.9billion) acquisition of Centamin (TSX: CEE; LON: CEY), citing lack of information on the targeted company’s assets. The gold miner said the quality of the data shared by the Egypt-focused company during an accelerated due diligence process was “insufficient” to make an offer and as a result, merger talks have been terminated. Under U.K. takeover rules, Endeavour has to wait six months before it can bid again for Centamin unless another party makes an offer, or it reaches a deal with the Egyptian miner. “We remain convinced about the strategic rationale of combining Endeavour and Centamin to create a diversified gold producer with a high-quality portfolio of assets,” chief executive Sébastien de Montessus stated. Centamin had rebuffed the allstock takeover proposal from En-

| Deal would have created strong mid-tier gold miner

deavour in December, saying it did not offer enough value to its shareholders. The miner reiterated those reasons on Jan. 13, saying the offer materially undervalued Centamin and its prospects. It also noted that the terms of the deal did not adequately reflect the contribution that it would make to the merged entity, adding that the company was better positioned to deliver shareholder returns than the combined entity. The U.K.’s takeover panel agreed to extend an offer deadline for the Toronto-listed miner to allow more time for the two sides to engage and share information. Endeavour, a West Africa-focused gold miner owned by Egyptian billionaire Naguib Sawiris, was seeking to gain control of Sukari, a 500,000 oz. per year gold mine and one of the world’s top-10 deposits of the yellow metal. The operation, which entered production in January 2010 and is Egypt’s largest gold mine, consists of a large open pit and an underground portion. Centamin has struggled with

An excavator in the pit at Centamin’s Sukari gold mine in Egypt. CENTAMIN

operational issues at the asset, however, which have weighed on its performance and on the company’s share price.

The company spent most of 2018 working on operational improvements on both sections, but they took longer than planned to materialize,

which hit output. The negative effects were shortlived. Centamin recently reported that gold production jumped 51% in the last three months of 2019. It noted that Sukari churned out 148,387 oz. gold in the fourth quarter, which is the mine’s strongest performance since the end of 2017. A deal between the two companies would have created a mid-tier gold miner with an almost US$4-billion market value and annual output of more than 1.2 million ounces. The transaction would have been one more of the many mergers and acquisitions that have swept the gold sector in the past year. The frenzy, kicked off by the highly publicized, multibillion-dollar mergers of Barrick–Randgold and Newmont–Goldcorp (now Newmont [TSX: NGT; NYSE: NEM]) in early 2019, has picked up speed. China’s state-backed Zijin Mining offered US$1 billion for Continental Gold (TSX: CNL; US-OTC: CGOOF) in early December and Kirkland Lake Gold (TSX: KL; NYSE: KL) launched a US$3.7-billion offer for Detour Gold (TSX: DGC). TNM

Alamos Gold takes stake in Red Pine ONTARIO BY TRISH SAYWELL

tsaywell@northernminer.com

lamos Gold (TSX: AGI; NYSE: AGI) has spent $1.9 million for an 11% stake in Red Pine Exploration (TSXV: RPX) on an undiluted basis and 19.99% on a partially diluted basis. The investment was part of a private placement of flow-through and non-flow through units that Red Pine closed on Dec. 31. The proceeds will be used for exploration on the junior’s Wawa gold project, 2 km southeast of the town of Wawa, Ont., and 40 km southwest of Alamos Gold’s Island mine. Quentin Yarie, Red Pine’s CEO, said the addition of Alamos as a strategic investor was a “major step in validating” the project “as a toptier exploration property. “Alamos Gold was interested in Red Pine’s Wawa gold project given its proximity to its Island gold mine, acquired via its $936-million acquisition of Richmont Mines in November 2017, which has become a major expansion project for Alamos with significant discoveries at depth,” Yarie says in an email to The Northern Miner. “The prolific goldproducing region has been a focus amongst intermediates and majors of late following the growth in Wesdome Gold Mine’s ($1.4-billion market capitalization) Eagle River complex and Newmont Goldcorp’s Borden mine (acquired for $526 million from Probe Mines in January 2015), which began commercial production in October 2019.” Alamos has three operating mines in North America: Young-Davidson and Island Gold in northern Ontario, and Mulatos in Mexico’s Sonora state. Its development-stage projects span Canada, Mexico, Turkey and the United States. Alamos completed several site visits to the Wawa project during 2019, including by senior members of its technical and exploration teams, Yarie notes. “We have also

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| Red Pine’s Wawa project just 40 km from Alamos’ Island mine

been working closely with Alamos to plan our ongoing exploration program to better understand the geological potential of the project and test new targets, including those at depth, where our peers in the region have had tremendous success.” Red Pine increased its stake in the Wawa project from 60% to 64.5% in mid-December. Red Pine’s jointventure partner, Citabar, owns the remaining 35.5% stake. The property has hosted numerous gold mines with historic production of more than 120,000 oz., but the mines were owned by different operators and were never geologically connected. The largest gold deposit found at the project so far is Surluga, which contains 1.2 million indicated tonnes grading 5.31 grams gold per tonne for 205,000 oz. gold and 2.36 million inferred tonnes averaging 5.22 grams gold per tonne for 396,000 ounces. Surluga is open along strike, and depth and vein thickness range between 3 and 30 metres. The Minto mine south deposit has 105,000 indicated tonnes grading 7.5 grams gold for 25,000 oz. gold and 354,000 inferred tonnes grading 6.6 grams gold for 75,000 ounces. It occurs in shallow, narrow, high-grade veins and shears outside

the Surluga deposit envelope, and mineralization remains open in all directions. In addition to the two deposits, Red Pine has found six gold-bearing structures on the property that combined form the Wawa gold corridor, a structure that extends for more than 6 km on the property. The gold-bearing structures include Cooper (1 km northeast of Surluga); Hornblende; the Grace mine; Minto B; Parkhill #4-Minto Lower; and the southern extension of the Jubilee shear zones. In November, the company announced the discovery of three gold zones. Highlights include a discovery east of the Surluga deposit (in the footwall) of 2 grams gold per tonne over 11 metres starting from 144 metres in drill hole 19-282 and 6.13 grams gold over 3 metres from 153 metres in drill hole 19-283, and a discovery west of Surluga (in the hanging wall) of 4.72 grams gold over 3 metres in drill hole 19-276 starting from 88 metres’ depth and 5.13 grams gold over 2 metres from 218 metres in drill hole 19-277. In addition, drill hole 19-282 returned 5.21 grams gold over 1 metre from 313 metres. This assay was intersected below the Surluga deposit. Red Pine’s private placement con-

sisted of 25.9 million flow-through units and 82.1 million non-flowthrough units of the company — both at 3.5¢ per unit — for $3.8 million in gross proceeds. Each flow-through unit was made up of one flow-through common share of the company and onehalf of one non-flow-through common share purchase warrant. Each non-flow-through unit comprised one common share (issued on a non-flow-through basis) and one whole warrant. A full warrant is exercisable for one common share at 5¢ per share for two years after the Dec. 31 closing date. “Alamos’ participation in Red Pine’s private placement demon-

strates their belief in the Wawa gold project’s potential and adds technical merit to a project we have long believed had untapped resourceexpansion opportunities,” Yarie says. “Red Pine now has the funds required to complete a detailed exploration and drilling campaign in 2020, testing several high-quality targets along strike and at a depth below 350 metres, where little drilling has been completed to date.” At press time, Red Pine was trading at 5¢ within a 52-week range of 2.5¢ to 8¢. The junior has 477 million common shares outstanding for a $24-million market capitalization. TNM

BRITISH COLUMBIA COAL MINE FOR SALE The Bowra Group Inc., in its capacity as receiver, is seeking offers for the assets, undertakings and property of Quinsam Coal Corporation. A preference will be given to en bloc offers. The assets include: • High quality thermal coal with characteristics attractive to overseas and local markets; • Real property located in and around Campbell River, British Columbia; • Mine and environmental permits;

• Freehold rights to coal and licences under the Coal Act to Crown coal; • Contracts and other options, agreements and licenses; • Property, plant and equipment; and • Intellectual property.

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The bid deadline for offers is 11:00 AM PST on April 1, 2020. However, at any time after February 14, 2020, if no parties are at that time deemed to be qualified parties, or if the Receiver determines in its business judgement that the sale procedure should be terminated, the Receiver may, without notice, terminate the sale procedure. INTERESTED PARTIES SHOULD CONTACT THE RECEIVER FOR FURTHER INFORMATION.

THE CONTACT FOR THE RECEIVER IS:

Gordon Brown |

+1.604.689.8939 |

Quinsam@bowragroup.com

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Canadians mourn loss of fellow citizens on Flight PS752 EDITORIAL

GROUP PUBLISHER/ PUBLISHER: Anthony Vaccaro, CFA, MBA avaccaro@northernminer.com ACTING EDITOR-IN-CHIEF & SENIOR REPORTER: Trish Saywell, BA, MA, MSC (JOUR) tsaywell@northernminer.com COPY EDITOR & MAP EDITOR: Isa Cunanan, HBSC (PROFESSIONAL WRITING, SCIENCE COMM)

icunanan@northernminer.com REPORTER Magda Gardner, BASC (MINERAL ENG) mgardner@northernminer.com CONTENT SUPERVISOR: David Perri, BA (POLI SCI) 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 SUBSCRIPTION RATES: Canada: C$120.00 one year; 5% G.S.T. to CDN orders. 7% P.S.T. to BC orders 13% H.S.T. to ON, NL orders 14% H.S.T. to PEI orders 15% H.S.T. to NB, NS orders U.S.A.: US$120.00 one year Foreign: US$157.00 one year GST Registration # 809744071RT001 (ISSN 0029-3164) CANADA POST: Return undeliverable Canadian addresses to Circulation Dept. c/o The Northern Miner 225 Duncan Mill Road, Suite 320 Toronto, ON M3B 3K9 Publication Mail Agreement #40069240

| Iran’s military downs passenger plane shortly after takeoff

ore than a thousand people attending the Canadian Mining Hall of Fame gala in Toronto on Jan. 9 bowed their heads in silence for the 57 Canadians and 119 other passengers who lost their lives when Ukrainian International Airlines Flight PS752 was shot down near BY TRISH SAYWELL Iran’s Imam Khomeini International Airport tsaywell@northernminer.com in Tehran. Among the Canadians killed were 10 affiliated with the University of Alberta including faculty, alumni and students — some of them postgrad stars in their fields of research. “Words simply cannot express the loss I know we are feeling,” the university’s president and vice-chancellor David Turpin told reporters. “Everyone on campus today is mourning the incredible loss of talent. These are wonderful people who have already contributed so much to our institution and had such bright futures ahead of them.” Iran’s military shot down the Boeing 737 about six minutes after takeoff, apparently mistaking it for a U.S. cruise missile. The error occurred hours after Iran launched missiles at American air bases in Iraq — measures taken in retaliation for U.S. President Donald Trump’s order to assassinate major general Qassem Soleimani, head of a branch of Iran’s Islamic Revolutionary Guard Corps. It’s hard to comprehend such a profoundly sad start to 2020. Among the Iranian Canadians killed were a couple who were studying computer science and were visiting Iran to get married, and a husband and wife, both engineering professors, and their two daughters. The tragic loss of these Canadians is heartbreaking. Many of them came to Canada on the promise of a better life and were making important contributions to Canadian society. The mining industry, perhaps more than any other sector in this country, knows just how important the genius and hard work of men and women coming to Canada have been in building mines and creating jobs at home and abroad. Many of the luminaries in our business were born elsewhere and came to Canada seeking opportunities. It is too exhaustive a list to name all of them here, but many have been inducted into the Canadian Mining Hall of Fame. Among the four inductees this year, two were born in Europe. Eberhard (Ebe) Scherkus, a geologist and professional engineer who helped build Agnico Eagle Mines into the powerhouse it is today, came to Canada from Germany at the age of one and was raised in Val-d’Or, Quebec. Hans T. F. Lundberg, who was instrumental in the development of geophysical and geochemical methods in our exploration industry, was born in Sweden and came to Canada in 1926. Peter Munk, without whom Barrick Gold would not exist today, fled Nazi death camps in Europe after Hitler invaded his native Hungary. Thayer Lindsley, sometimes described as “the greatest mine finder of all time” and the founder of Falconbridge and many other Canadian mining companies, was born in Japan, studied civil engineering at Harvard, and moved to Canada in 1924. Robert (Bob) Gannicott, who was born and raised in England and immigrated to Canada in 1967, was a pioneer of exploration in the Arctic and played a key role in the discovery and development of the Diavik mine in the Northwest Territories for Aber Diamond in the 1990s, while Stephen Roman, an immigrant from Slovakia, began his life in Canada as a tomato picker before building Denison Mines into a leading mining and resource company. Roman was this newspaper’s first Mining Man of the Year in 1977. From its inception, this country has, with a few unfortunate exceptions, welcomed people from around the world and it continues to do so at the dawn of a new decade. Thankfully it stands apart from many other countries, where a growing undercurrent of alt-right nationalism is building walls to shut out newcomers and withdrawing from important economic and political institutions that foster open boundaries and the easier movement of human talent as well as goods and services. Long may Canada welcome people from other lands. TNM

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DEPARTMENTS Editorial. . . . . . . . . . . . . . . . . . . . . . . . 4 Metal Prices. . . . . . . . . . . . . . . . . . . . 11

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.

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O P- E D

Professional Directory. . . . . . . . . . . . 9 Stock Tables. . . . . . . . . . . . . . . . . 10-15

COMPANY INDEX Anglo American. . . . . . . . . . . . . . . . . 5 Atlantic Nickel. . . . . . . . . . . . . . . . . . . 6 Centamin. . . . . . . . . . . . . . . . . . . . . . . 3 Codelco . . . . . . . . . . . . . . . . . . . . . . . . 1 Continental Gold . . . . . . . . . . . . . . . . 3 Detour Gold. . . . . . . . . . . . . . . . . . . . . 3 Doré Copper Mining . . . . . . . . . . . . . 8

Endeavour Mining . . . . . . . . . . . . . . . 3 Kirkland Lake Gold . . . . . . . . . . . . . . 3 LlamaZoo Interactive. . . . . . . . . . . . . 5 Newmont. . . . . . . . . . . . . . . . . . . . . 3,5 Red Pine Exploration. . . . . . . . . . . . . 3 Sierra Metals . . . . . . . . . . . . . . . . . . . . 7 Teck Resources . . . . . . . . . . . . . . . . . . 5

Is a diesel supply shock coming? COMMENTARY

| Sulphur regulations could hit hard

BY DAVID BOLENEUS Special to The Northern Miner

ew ocean shipping regulations could have a big impact this year. Under International Maritime Organization (IMO) rules that came into effect on Jan. 1, emissions from fuel used in ocean carriers cannot exceed a 0.5% sulphur content. With sulphur content before the ruling at 3.5%, the switch to low-sulphur fuel is enormous, both as an undertaking and in its farreaching effects. It is certainly unprecedented, and few understand what impacts are coming while many others were unaware that the switch was even imminent. The diesel supply side will be exposed, the time line is short, and users and consumers are unaware and unprepared for the event, which may exaggerate the impact. The conversion of ocean carriers from heavy or residual fuel oil (also known as bunker fuel) with a higher sulphur content to low-sulphur fuel could seriously impact the supply and/or the price of distillate fuels. The overall effects are unpredictable and knowledge of this change is primarily limited to the transportation industry. The mandate cannot be delayed because it was set by IMO treaty 10 years ago. However, Indonesia’s government announced in July that the country will not enforce the IMO low-sulphur standard for domestic fleets due to the high cost. It is the first country to abandon the IMO 2020 mandate. Emissions of sulphur and nitrogen oxides released into the atmosphere are known to adversely affect health. Goldman Sachs estimates that the 15 largest ocean vessels emit more sulphur from high-sulphur bunker fuel than all of the world’s gasoline or dieselfueled automobiles, combined. According to the International Energy Agency, the global fuel demand for ocean shipping is small and amounts to just 4% of total global demand, or 4.3 million barrels per day. Bunker fuels represent 3% of total transportation energy use. About 80% of U.S. residual fuel is for marine bunker fuels mixed with distillate fuels. The question remains as to how this will impact outside ocean shippers. Because bunker fuels represent the sole important use of this product, to

comply with the IMO 2020 sulphur limits will have major economic implications for residual oil use for marine fuels. The effects will reach other parties up and down the supply chain, from customers that sustain the market, to both the refineries and the producers that find and pump the crude. This includes the mining sector, as Capesize ships are commonly used in transporting coal, iron ore and commodity raw materials. Shipper options Shippers can meet the new standard by adding scrubbers to reduce the sulphur from emissions of high-sulphur fuels, switch to low-sulphur diesel fuel or convert engines to natural gas. DNV GL reports that at least 225 cruise lines and freight shippers have converted or ordered LNG conversions. Analytics company RBN Energy contends the scrubber conversions may be more economical than buying the IMO 2020-compliant fuel or the LNG conversions. Vessels failing to meet the standard will be declared “unseaworthy,” lose insurance coverage, and face steep penalties and fines. Freight contracts made in 2019 also cannot escape the low-sulphur fuel mandate. Price and supply implications According to trade publication Transport Topics, demand for maritime distillate fuel after the rule takes effect is anticipated to rise 3 million to 4 million gallons per day for ocean freight and cruise lines, and any tweaking of supply and demand by refiners would be limited. But fuel switching, the change in refinery output from high-sulphur to low-sulphur fuels or distillates, combined with the transport and market of the compliant fuels, involves a much larger change because the high- to low-sulphur fuel transition involves from 84 million to 168 million gallons per day. Svelland Capital says it’s the largest-ever regulatory change in the oil industry and it will have massive effects that extend far outside of shipping, to trucking, railroads, farms and industry users. Estimates of the IMO global impact range from US$240 billion to more than US$5 trillion over five years. Denmark’s Maersk and the Swiss MSC estimate added

2020-01-14 5:53 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / JANUARY 20–FEBRUARY 2, 2020

LlamaZoo VR technology trims mine costs, carbon footprint TECHNOLOGY

| BC firm makes headway with big players in the mining space

BY BRENDA BROUW

Special to The Northern Miner

efore it started creating 3-D visualizations of mine sites, Victoria-based LlamaZoo Interactive was helping veterinarian students virtually dissect dogs. Using technologies such as virtual reality (VR) and augmented reality, video game industry veterans Charles Lavigne and Kevin Oke created EasyAnatomy, the world’s first virtual reality canine dissection experience, which can also help vets better explain to pet owners what may be wrong with their pups. With canine cadavers as a successful case study, Lavigne and Oke looked for another real-world application for their technology. Being from B.C., a province known for its natural resources, the pair decided to pitch its software to the mining industry. The duo was undeterred by the industry’s old-school reputation of being reluctant to try new technologies. “Geology is the anatomy of the earth,” says Lavigne, LlamaZoo’s chief executive officer, who founded the company in 2014 with Oke, the vice-president of business development. They started big by pitching to Vancouver-based Teck Resources (TSX: TECK.B; NYSE: TECK), Canada’s largest diversified mining company, at the 2017 annual Association for Mineral Exploration Roundup conference in Vancouver. “It was a shot in the dark,” Lavigne recalls, but, to his surprise, Teck was interested and not long after meeting the entrepreneurs, invited Lavigne and Oke to visit their steelmaking coal mines in B.C.’s Elk Valley. Teck became LlamaZoo’s first mining client, followed by Goldcorp (now part of Newmont [TSX: NGT; NYSE: NEM]), Anglo American (LON: AAL), and others around the world that are using or have used LlamaZoo’s MineLife VR platform. MineLife collects huge volumes of data generated by companies — such as geology, drill hole information and infrastructure plans — to create a visual representation of the mine site. The visualizations are used for mine planning as well as community outreach. The company’s software platform allows users to view the site virtually, including everything from its topography to infrastructure, without having to go there. MineLife also allows an underground ore body costs of fuels at US$2 billion for each company. The impact is not limited to diesel. The ruling will also impact the availability and cost of home-heating fuel, jet fuel and gasoline, as refiners devote more attention to the low-sulphur bunker fuel market, says Daniel Yergin, IHS Market vice-chairman. Fuel use by ocean transport, a very large industry, uses more fuel than land transport, another factor that may exaggerate the impact, Yergin said in his address at the TPM 2019 shipping container conference. Yergin added that the “change is big and will not go smoothly.” The “transformative” change creates risks, opportunities, winners and losers, Yergin said, warning of an IMO scramble because “industries are not prepared.” Small companies or low-volume users — farmers, airlines, truckers, mines and others — will be hit hardest and will not receive

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Users viewing a LlamaZoo Interactive visualization of Teck Resources’ Galore Creek copper-gold-silver project using Microsoft Hololens technology. LLAMAZOO INTERACTIVE

“THE TECHNOLOGY ALLOWS US TO VISUALIZE A SITE ANYWHERE IN THE WORLD WITHOUT HAVING TO LEAVE THE OFFICE … NOBODY HAS TO GO ON-SITE TO SEE THE DATA.” CHARLES LAVIGNE CEO, LLAMAZOO INTERACTIVE

to be viewed in 3D. “We are effectively using gaming technology to bring together large, disparate spatial data sets … that go beyond the static representation,” such as maps and spreadsheets, Lavigne says. Lavigne says MineLife not only saves companies the cost and carbon footprint of flying people to remote mine sites, but is also used to help stakeholders better understand proposed projects. It also helps miners improve their mine site planning, logistics, training and stakeholder engagement, speeding up the process to get the operation running sooner. “It can be used as a tool for companies to better understand the entire scope and scale of a project and to

better interact with stakeholders by providing a virtual data room … for everyone to use,” he says. Fo r e x a mp l e , L l a m a Z o o’s MineLife software helped the Galore Creek Mining Corp. — the company set up by Teck and Newmont to develop the Galore Creek project in northwestern B.C. — with its community outreach, which the company says helped “restore project momentum in a cost-effective manner.” According to a case study, Galore Creek Mining saved between $100,000 and $250,000 on planned site visits by using MineLife. In the latest PwC “B.C. mining report,” published earlier this year, Teck said LlamaZoo’s technology helped the companies better un-

favoured terms compared with crude oil supertankers, containerships, Panamax or Capesize ships. The big question is what will be the impact on availability and price to trucking, rail transport and the demand by industry that already uses low-sulphur diesel fuels. At this time, magnitude of the effect is impossible to predict.

was less favoured for refinery feedstock) compared to lower sulphur or sweet crude oil. Refineries that processed only sour crude oils have since closed, stranding some highsulphur supplies, but the Energy Information Administration predicts some of these facilities may reopen to satisfy demand under the new IMO rules. Diesel prices rose in the 2006– 2010 period after low-sulphur fuels were mandated in North America and Europe. Diesel prices rose to US$4.25 per gallon on May 1, 2008. The increase cost truckers US$140 billion for diesel in 2008, US$30 billion more than in 2007. By election day, prices fell to US$2.07 per gallon when Barack Obama was elected U.S. president.

Historic price shocks A look back to the ultra-low-sulphur diesel mandate in 2005 may help, because the ultra-low sulphur diesel (ULSD) rule caused diesel prices to spike above those of gasoline. Before the ULSD phase-in, according to Forbes, gasoline traded at a premium to diesel, then diesel prices traded US4¢ above gasoline, but after implementing the ULSD standard, diesel prices surged to average 23¢ above the gasoline price. Also, the purchase price of high-sulphur, or sour crude oils also fell (because it

Wider impacts of the IMO ruling Although not directly involved in the transition, customers of tradi-

derstand the project and support a renewed understanding of Galore Creek with the Tahltan community. (Galore Creek is within the territory of the Tahltan Nation). Teck also said in the report that it was using the technology for some of its projects in other jurisdictions and to help develop mine expansion plans. MineLife was also used at the Roy Hill iron ore project in Western Australia to help the company digitize the site from source to port, providing a deeper scale and understanding of its operations. Roy Hill is 70% owned by Hancock Prospecting and 30% by a consortium of Marubeni Corp., Posco and China Steel Corporation. What’s more, LlamaZoo’s team didn’t have to travel to Australia to develop the site visualization, using instead the data already available from various sources. “That’s the beauty of it,” Lavigne says. “The technology allows us to visualize a site anywhere in the world without having to leave the office … Nobody has to go on-site to see the data. You can have specialists and analysts all over the world collaborating,” without having to

physically meet. MineLife is also evolving to include real-time data and tracking such as the position of a mining truck, tracking animals on a site, and the routes of a train or a ship carrying the commodities. “We can create a real-time representation of the operations and operating conditions of the site, so it can be better used for communications and decision-making by all stakeholders, including communities and First Nations as well as [mining company] executives,” Lavigne says. LlamaZoo has seen growing interest from mining companies but is also branching out into other resource industries such as energy and forestry. “Anywhere where there’s big spatial data can benefit from our technology,” he says. For instance, he says the company is branching out into the telecommunications sector around cell tower deployment. “The goal is to make sure we take the learnings from each industry and roll it into a broader solution that can be applied more strategically.” TNM

tional fuels for autos, home heating, truck and rail shipping will also feel the impact. This is because the overall rise in demand for distillate fuels will reach 88.2 billion gallons annually. Furthermore, because new blend specifications remain non-standard, no one knows what types of fuels will be available, or their supply and cost. Logistics Management magazine says the fuel cost may double in a short time after the Jan. 1 deadline. Forecasts by McKinsey and International Energy Agency also expect distillate fuel costs like diesel and jet fuel to double but then soften after a period of adjustment. At the same time, the cost of motor gasoline will be unchanged but eventually fall by US20¢ per gallon. The IMO2020 rule will also impact sourcing of products and timing of shipments from overseas or ultimate sourcing from new or alternate sources. Slow-steaming

was one strategy used by ocean ships to lower costs. Slowed ship speeds can save 10% on the cost of fuel, but delayed arrival time impacted logistical planning and customer’s lead times. Slowed arrival times and cost of fuel will require examination of near-shoring or on-shoring of suppliers versus goods shipped long distance by ocean ships. It seems clear that the mandated change from high-sulphur to lowsulphur fuels by ocean shipping will impact ocean shipping. The impact on ocean shipping will be most marked, while the impact of the IMO ruling on fuel users outside ocean shipping are quite uncertain. — This article first appeared in our sister publication, Canadian Mining Journal. David Boleneus is a senior cost analyst/geologist with CostMine (costs.infomine.com), part of the Glacier Resource Innovation Group, based in Spokane, Washington.

2020-01-14 5:53 PM

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JANUARY 20–FEBRUARY 2, 2020 / THE NORTHERN MINER

Atlantic Nickel sells first nickel concentrate from Santa Rita BRAZIL

| Mine officially exits care and maintenance “WE ARE VERY CONFIDENT THAT THIS ASSET WILL HAVE A LIFE IN EXCESS OF 20 YEARS, SO THE DEPOSIT IS NOT ONLY GOOD, BUT SCALABLE.”

BY TRISH SAYWELL

tsaywell@northernminer.com

anta Rita — one of the largest open-pit nickel sulphide mines in the world — has sold its first nickel concentrate since being placed on care and maintenance in 2015. Mirabela Nickel operated the mine for six years before shutting it down due to low nickel prices and high costs. Today, the asset is owned by private equity firm Appian Capital’s Atlantic Nickel, which has refurbished and restarted the operation, and produced 11,000 dry metric tonnes since blasting resumed in July 2019. The company recently signed a three-year offtake contract with Trafigura for part of Santa Rita’s production, along with a US$40.8-

PAULO CASTELLARI CEO, ATLANTIC NICKEL

million financing arrangement with the metal trader. “The key thing now is to really work hard on the ramp-up,” Paulo Castellari, CEO of Atlantic Nickel and Appian Brazil, tells The North-

ern Miner. The plant is expected to produce between 13,000 and 15,000 tonnes nickel equivalent before the end of 2020. “In the first quarter, we want to be

Atlantic Nickel’s Santa Rita mine in Brazil. ATLANTIC NICKEL

between 40% and 60% of nominal capacity. In the second quarter, between 50% and 70%, and in the

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he mining sector is facing a DarW delegates at the winian moment, first annual Technology and Innovation in Mining conference in Toronto heard in September. Just as species deal with changes in their climate, food sources or other circumstances, miners dealing with mounting cost, social and technical pressures must innovate if they want to survive, research group AMIRA International managing director Joe Cucuzza said. “If you look at Darwinian evolution, there are more species that go extinct than actually quickly adapt,” Cucuzza told the conference. “The point is that in our industry, we need to adapt quickly. COAL OUTLOOK: WOOD MACKENZIE SEES RAY OF HOPE / 4 Those that are slow to adapt, unfortunately, are going to go extinct.” The conference, organized by Dubai-

BY JOHN CUMMING jcumming@northernminer.com

Mining sector W forced to innovate

ith Canadians looking ahead to a federal election on Oct. 19, The Northern Miner submitted mining-related questions to the leaders of the four major political parties running across CanTECH CONFERENCE | New technology stokes productivity gains, but ‘no silver bullet’ ada. The following are the answers from the Liberal Party of Canada ELECTION 2015 | BY ALISHA HIYATE leader Justin Trudeau and Green Party Credibility and ahiyate@northernminer.com accountability are of Canada leader Elizabeth May and top concerns their parties: he mining sector is facing a DarThe Northern Miner: In recent years winian moment, delegates at the BY JOHN CUMMING first annual Technology and Injcumming@northernminer.com the federal has streamlined novation in Mining conferencegovernment in Toronto heard in September. environmental permitting for miners ith Canadians looking Just as species deal with changes in byfood trying tooravoid ahead to a federal election their climate, sources other duplicating provinon Oct. 19, The Northern circumstances, miners dealing with efforts. Do you support this apMiner submitted mining-related quesmounting cial cost, social and technical tions to the leaders of the four major pressures must innovate ifDoes they want to federal government proach? the political parties running across Cansurvive, research group AMIRA Interhave adirector unique role to play in avoiding ada. The following are the answers national managing Joe Cufrom the Liberal Party of Canada cuzza said. catastrophic tailings dam failures, such leader Justin Trudeau and Green Party “If you look at Darwinian evolution, of Canada leader Elizabeth May and there are more that go extinct as species the Mount Polley spill in B.C. in their parties: than actually quickly adapt,” Cucuzza 2014?“The point is that The Northern Miner: In recent years told the conference. the federal government has streamlined in our industry, we need to adapt quickly. Justin Trudeau/Liberal Party: The environmental permitting for miners Those that are slow to adapt, unfortuby trying to avoid duplicating provinnately, are going to go extinct.” Harper government has eroded the cial efforts. Do you support this apThe conference, organized by Dubaicredibility of Canada’s environmental proach? Does the federal government See TECHNOLOGY / pg. 2 have a unique role to play in avoiding reviews by narrowing their application, catastrophic tailings dam failures, such Autonomous haulage trucks on the move at Rio Tinto’s West Angelas iron ore mine in Australia’s Pilbara region. as the Mount Polley spill in B.C. in limiting public participation and slash2014? ing the capacity of the federal governJustin Trudeau/Liberal Party: The Harper government has eroded the ment to protect the environment. credibility of Canada’s environmental reviews by narrowing their application, They have ended over 50 years of limiting public participation and slashing the capacity of the federal governenvironmental oversight in Canada ment to protect the environment. by repealing the Canadian EnvironThey have ended over 50 years of environmental oversight in Canada mental Assessment Act so that the by repealing the Canadian Environmental Assessment Act so that the federal government can sidestep enfederal government can sidestep environmental reviews of potentially vironmental reviews of potentially harmful projects. harmful projects. Without public trust, Canada’s environmental assessment processes are Without public trust, Canada’s enincreasingly paralyzed. Not only are vironmental assessment processes are we not doing a good enough job at protecting our environment, we are increasingly paralyzed. Not only are not getting our resources to market. We need clear and efficient processes we not doing a good enough job at that have reasonable, evenhanded protecting our environment, we are rules, clear beginning and end points and decisions that can be relied on. not getting our resources to market. We will launch an immediate, public review of Canada’s environmental We need clear and efficient processes assessment processes. Based on this that have reasonable, evenhanded review, a Liberal government will rules, clear beginning and end points See ELECTION / pg. 3 and decisions that can be relied on. We will launch an immediate, pubCOAL OUTLOOK: WOOD MACKENZIE SEES RAY OF HOPE / 4 lic review of Canada’s environmental assessment processes. Based on this review, a Liberal government will

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Editorial

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ELECTION 2015

Liberals, Greens Q&A on mining in Canada

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SPECIAL FOCUS: QUEBEC / 7–10

ith Canadians looking ahead to a federal election on Oct. 19, The Northern Miner submitted mining-related questions to the leaders of the four major political parties running across Canada. The following are the answers from the Liberal Party of Canada leader Justin Trudeau and Green Party of Canada leader Elizabeth May and their parties: The Northern Miner: In recent years the federal government has streamlined environmental permitting for miners by trying to avoid duplicating provincial efforts. Do you support this approach? Does the federal government have a unique role to play in avoiding catastrophic tailings dam failures, such as the Mount Polley spill in B.C. in 2014? Justin Trudeau/Liberal Party: The Harper government has eroded the credibility of Canada’s environmental reviews by narrowing their application, limiting public participation and slashing the capacity of the federal government to protect the environment. They have ended over 50 years of environmental oversight in Canada by repealing the Canadian Environmental Assessment Act so that the federal government can sidestep environmental reviews of potentially harmful projects. Without public trust, Canada’s environmental assessment processes are increasingly paralyzed. Not only are we not doing a good enough job at protecting our environment, we are not getting our resources to market. We need clear and efficient processes that have reasonable, evenhanded rules, clear beginning and end points and decisions that can be relied on. We will launch an immediate, public review of Canada’s environmental assessment processes. Based on this review, a Liberal government will

Autonomous haulage trucks on the move at Rio Tinto’s West Angelas iron ore mine in Australia’s Pilbara region.

he mining sector is facing a Darwinian moment, delegates at the first annual Technology and Innovation in Mining conference in Toronto heard in September. Just as species deal with changes in their climate, food sources or other circumstances, miners dealing with mounting cost, social and technical pressures must innovate if they want to survive, research group AMIRA International managing director Joe Cucuzza said. “If you look at Darwinian evolution, there are more species that go extinct than actually quickly adapt,” Cucuzza told the conference. “The point is that in our industry, we need to adapt quickly. Those that are slow to adapt, unfortunately, are going to go extinct.” The conference, organized by Dubai-

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Discipline pays off / 4

Five new inductees / 5

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| New technology stokes productivity gains, but ‘no silver bullet’

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See TECHNOLOGY / pg. 2 Autonomous haulage trucks on the move at Rio Tinto’s West Angelas iron ore mine in Australia’s Pilbara region.

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third quarter, between 70% and 90% — and then at nominal capacity by the fourth quarter,” he outlines. Castellari admits Atlantic Nickel is “privileged to have the asset and product we have,” noting that as a brownfield project, it had more than US$1 billion invested in plant infrastructure when it took over the project. Its mix of nickel and copper is also attractive, he says. “There aren’t that many projects out there that will produce what we will produce,” he says. “It’s an easy product. It will end up one way or the other in the stainless steel market, but the real deal for this asset, now and going forward, will have to be in the battery market.” The mining executive noted that Atlantic Nickel accelerated the restart by two months due to employing risk analysis and “mapping out the pinch points” along the value chain. He also pointed out that the company had kept contact with the operators who worked at Santa Rita during its Mirabela years, and was able to contact them quickly and get them back. Santa Rita’s open-pit measured and indicated resources stand at 59.17 million tonnes grading 0.33% nickel sulphide and 0.11% copper. But the company has also drilled beneath the open pit, and assays so far confirm the continuation of sulphide disseminated mineralization at depth. The company is examining the potential for an underground operation. “We have delineated reserves that will be enough for some nine years with the current open pit,” Castellari says. “And we are doing studies that will be finalized by the end of the first quarter that firm up the resource that will take the mine beyond these nine years, very probably with an underground component, but also with satellite pits. “We are very confident that this asset will have a life in excess of 20 years, so the deposit is not only good, but scalable, and this is the right product,” he continues. In parallel to its arrangement with Trafigura, the company is working with smelters in Europe and Asia. Castellari notes that the company is fortunate that Santa Rita is in Brazil’s Bahia state — “a very business friendly and mining friendly jurisdiction.” TNM

“THE REAL DEAL FOR THIS ASSET, NOW AND GOING FORWARD, WILL HAVE TO BE IN THE BATTERY MARKET.” PAULO CASTELLARI CEO, ATLANTIC NICKEL

2020-01-14 5:53 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / JANUARY 20–FEBRUARY 2, 2020

Aerial and underground views of Sierra Metals’ Bolivar copper-silver-gold mine in Mexico. SIERRA METALS

Sierra Metals grows resource at Bolivar mine MEXICO BY TRISH SAYWELL

tsaywell@northernminer.com

ierra Metals (TSX: SMT; NYSEAM: SMTS) has updated the resource for its Bolivar underground mine in Chihuahua state, Mexico, based on 13,698 metres of infill drilling and 41,553 metres of exploration drilling between November 2017 and September 2019. Bolivar’s indicated resources now stand at 11.63 million tonnes averaging 0.95% copper, 18.1 grams silver per tonne and 0.24 gram gold per tonne, or 1.17% copper-equivalent. Inferred resources add 16.69 million tonnes averaging 0.93% copper, 16.8 grams silver and 0.30 gram gold, or 1.16% copper-equivalent. The company says it plans to update the resource again before the end of the first quarter of 2020 to incorporate 1,377 metres of infill drilling and 4,149 metres of exploration drilling completed after the Sept. 30, 2019 cut-off date. The 3,600-tonne-per-day mine produced 21,323 equivalent lb. copper at all-in sustaining costs (AISCs) of US$2.55 per equivalent lb. copper sold in 2018. The company’s guidance for 2019 is between 29,877 and 33,449 equivalent lb. copper at AISCs of US$2.08 per lb. copper equivalent sold. Sierra Metals expects to release an updated preliminary economic assessment in the third quarter of this year that will examine increasing tonnage throughput from 3,600 tonnes per day to 5,000 tonnes per day by the end of 2020. The Bolivar mine, 6 km from the Piedras Verdes plant, consists of 12 mining concessions over 152 sq. km in Mexico’s Piedras Verdes mining district. The company achieved its first full year of commercial production at Piedras Verdes in 2012. The plant started production at 1,000 tonnes per day before expanding in September 2013 to 2,000 tonnes per day, and reached the 3,600-tonneper-day mark during the second quarter of 2019. The ore is treated using a flotation process in a copper circuit and is extracted from various copper skarn deposits that also contain zinc, silver and gold. The Piedras Verdes mining district lies within the Sierra Madre precious metals belt that extends across the states of Chihuahua, Durango and Sonora in northwestern Mexico.

1-8_JAN20_Main .indd 7

| Copper-silver-gold mine runs at 3,600 tonnes per day

Rocks in the area trend northwest and dip gently northeast. These rocks are also cut by several northwestand northeast-trending faults. Skarn-type, copper-zinc-silvergold mineralization in the Bolivar area is structurally controlled, the company says, and forms mineralized zones that are close to structures. Mineralized zones occupy pre-existing fault structures and extensional openings formed during mineralization. In addition to the Bolivar mine, Sierra Metals owns the Cusi underground mine, also in Chihuahua state, 135 km from Chihuahua City, and the Yauricocha underground mine in west-central Peru, 12 km west of the Continental Divide. The company’s exploration work at all three assets includes brown-

THE PERFECT

GIFT

SIERRA METALS EXPECTS TO RELEASE AN UPDATED PRELIMINARY ECONOMIC ASSESSMENT IN THE THIRD QUARTER OF THIS YEAR THAT WILL EXAMINE INCREASING TONNAGE THROUGHPUT FROM 3,600 TONNES PER DAY TO 5,000 TONNES PER DAY BY THE END OF 2020. field programs within and close to existing mines to exploit near-mine targets that can be converted into resources and reserves and brought into the existing mine plans. It is also developing a pipeline of openpit and underground opportunities through a district-scale study that incorporates various geological

data layers, historical drill holes and mine data. As of Sept. 30, the company had US$40.4 million in cash and equivalents and net debt of US$58.8 million. In the third quarter, Sierra posted adjusted earnings before interest, tax, depreciation and amortiza-

tion of US$21.6 million, an 18% year-on-year increase, primarily due to increased revenues from all three mines. The company reported consolidated copper production of 11.1 million lb. (a 34% increase compared to the third quarter of 2018), silver production of 1 million oz. (a 34% increase), consolidated zinc production of 22.5 million lb. (an 8% increase), consolidated lead production of 10.5 million lb. (a 65% increase), and consolidated gold production of 3,490 ounces (an 83% increase). Over the last year, Sierra’s shares have traded in a range of $1.33 to $2.86. At press time the company traded at $2.28 per share. The company has 163 million common shares outstanding for a $371-million market capitalization. TNM

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Doré Copper options Joe Mann gold mine QUEBEC BY TRISH SAYWELLL

tsaywelll@northernminer.com

ecently listed Doré Copper Mining (TSXV: DCMC) has signed an option agreement to acquire 100% of the Joe Mann gold mine in Quebec. The project is 50 km from the company’s Copper Rand mill, which previously processed material from the mine between 2004 and the mine’s closure in 2007. The 2,700-tonne-per-day Copper Rand concentrator is 8 km southwest of Chibougamau. The Joe Mann gold mine, privately held since 2008, operated for 27 years between 1956 and 2007, and produced 1.2 million oz. gold at a grade of 8.26 grams gold per tonne, 607,000 oz. silver at 5 grams silver per tonne, and 28.7 million lb. copper at a grade of 0.25% copper. The mine remains open at depth and along strike, and the property offers exploration targets, Ernest Mast, Doré Copper’s president and CEO, says, noting that exploration

| Junior sees potential in 27-year past producer

will focus on the potential to extend high-grade mineralization at depth as well as defining new mineralized zones, all of which are accessible from a 1,145-metre shaft. (The shaft was last deepened in 2001.) After the mine closed, three holes were drilled from underground to test the depth extensions of the mine, 170 metres below the lowest level (1,051 metres below surface). Hole 189B intersected the main zone and returned 26.66 grams gold over 2 metres and 14.72 grams gold over 1 metre. Hole 188 also intersected the main zone and cut 30.3 grams gold and 1.3% copper over 3 metres, and in the south zone, 9.23 grams gold over 1 metre. “Joe Mann may demonstrate similar potential to Wesdome’s Eagle River, Alamos Gold’s Island Gold or Kirkland Lake’s Macassa mine,where the high-grade gold deposits not only continue at depth — but with improved grades while yielding discoveries,” he says. “The high-grade intercepts from 2009,

“JOE MANN MAY DEMONSTRATE SIMILAR POTENTIAL TO WESDOME’S EAGLE RIVER.” ERNEST MAST PRESIDENT AND CEO, DORÉ COPPER

170 metres below the lowest mine level, show great promise from a new high-grade zone.” One of the highest priority targets lies in the more recently discovered West Zone, which is a potential structural offset that allows much thicker, higher-grade veins to form, and which remains open, the company says. Historic mined intercepts in the area include 2 metres of 24.62 grams gold per tonne, 4 metres of 31.54 grams gold and 3 metres of 24.28 grams gold. Unmined historic intercepts include 5 metres of 10.3 grams gold, 3 metres of 166.1 grams gold and 3 metres of 10.4 grams gold. “The western area has not been extensively explored and appears to have a structure conducive to

thicker intercepts than at the main Joe Mann mine,” Mast says. In 2017, an airborne magnetic survey found several moderate to strong magnetic anomalies. In addition, recent surface prospecting has found parallel zones several hundred metres south of the main mine. Under a staged cash-and-share option agreement with Ressources Jessie and Legault, a 2% net smelter return royalty is also granted to Ressources Jessie, which will have the option to buy back 1% for $2 million and a further 0.5% for $4 million. At the end of December, the company completed the second tranche of a private placement of

f low-through shares that raised $4.5 million. Doré Copper’s other assets are its wholly owned Corner Bay and Cedar Bay projects, both in Chibougamau. Corner Bay has 1.35 million indicated tonnes grading 3.01% copper and 0.29 gram gold per tonne for 89.8 million lb. copper and 13,000 oz. gold, and 1.66 million inferred tonnes grading 3.84% copper and 0.27 gram gold for 140.3 million lb. copper and 15,000 oz. gold. Cedar Bay has 130,000 indicated tonnes averaging 9.44 grams gold and 1.55% copper for 39,000 oz. gold and 4.4 million lb. copper, and 230,000 inferred tonnes grading 8.32 grams gold and 2.13% copper for 61,000 contained oz. gold and 10.8 million lb. copper. Doré Copper Mining, formerly known as the capital pool company ChaiNode Opportunities, has 27.7 million common shares outstanding for a $37.4-million market capitalization. At press time the company was trading at $1.35 per share. TNM

State-owned Codelco struggles to maintain output CODELCO From 1

of copper year after year, explains Gustavo Lagos, professor of mine engineering at Chile’s Pontificate Catholic University. This year, the company faced freak floods in the Atacama desert, lengthy maintenance shutdowns at two smelters and a two-week strike at Chuquicamata. “The struggle each year is to produce the same. It is not as easy as people imagine,” Lagos says. Meanwhile, the technical challenges at its main projects are immense. Work to build a new level at El Teniente, already the world’s largest underground copper mine, was held up more than two years after a fatal rockburst in 2014 revealed serious f laws in its geotechnical design. The project is now expected to enter production in 2023. An ambitious project to triple production at Andina was shelved in 2014 because of public fears of its impact on local water supplies. Codelco is working on a more modest design, which would not touch the glaciers that surround the mountaintop operation. After numerous delays, executives admit that the best the company can hope for now is to maintain production at current levels. But the most serious brake on Codelco’s ambitions is a lack of cash. Required by law to hand over all its profits to the Chilean state — more than US$100 billion since nationalization in 1971 — successive governments have returned less than 10% of this amount to the miner. In comparison, most large mining companies invest at least half of their profits, notes Juan Olguin, president of the Federation of Copper Workers, the umbrella organization for Codelco’s workers’ unions. Pinera’s predecessor tried to improve the situation. After changes to Codelco’s corporate governance in 2009, Michelle Bachelet agreed to inject US$3 billion into the company between 2014 and 2019, allowing it to continue investing through the slump in metal prices. But further capitalizations look unlikely. Huge anti-government protests since October have forced Pinera to ramp up welfare spending to quell the unrest, straining government finances. “Faced with increased social demands, where the state needs to

1-8_JAN20_Main .indd 8

A portal at Codelco’s Chuquicamata copper mine in Chile. CODELCO

“FACED WITH INCREASED SOCIAL DEMANDS, WHERE THE STATE NEEDS TO FIND FRESH RESOURCES, THE SITUATION DOES NOT LOOK VERY PROMISING FOR CODELCO.” ALEJANDRA WOOD EXECUTIVE DIRECTOR, CESCO

find fresh resources, the situation does not look very promising for Codelco,” says Alejandra Wood, executive director of CESCO, a mining think tank. While the state is not Codelco’s only source of financing, the alternatives are limited. Underfunded by its owner, the company’s debts have soared to almost US$15 billion. Further increases could harm its investment-grade credit rating, some analysts say. The company could sell assets or bring in partners to build infrastructure. In November, Japan’s

Marubeni Corp. won a US$1-billion contract for a desalination plant to supply water to its Chuquicamata and Radomiro Tomic mines. But bringing private capital into its core mining business is prohibited under the Chilean Constitution and opposed by its powerful unions and the general public. Almost 70% of Chileans oppose any privatization of the company, according to a 2018 poll conducted by Mori on public attitudes to the mining industry. As a result, Codelco’s limited options could mean hard choices in the future.

“Without investment from the state, Codelco will probably have to decide which projects it wants to develop,” says the Federation of Copper Workers’ Olguin. Alert to the hard times ahead, the company has promised to try harder. In November, Araneda unveiled a target to boost profits another US$1 billion from 2021, through costcutting and increasing productivity. Management is also striving to cut the cost of its huge investment program. By reducing projects and adopting lean design principles, Araneda said at a press conference in late November that investment over the next decade could be cut by as much as 20%, or US$8 billion. By making Codelco leaner and meaner, management hopes to convince the government to put its trust in the company again. “We want to ensure the financing of these projects,” Araneda explained. But rather than another cash injection, what Codelco really needs is

a long-term commitment from the state to match the scale of its projects, says Juan Carlos Guajardo of PlusMining, a consulting company. It is not just a question of finances. Take, for example, Codelco’s copper smelters. Decades old, dirty and largely lossmaking, some of the company’s executives would like to close them but face opposition from unions. At the start of the decade, the government enacted tighter emission standards that required Codelco to invest over US$2 billion in environmental upgrades, which were only completed in 2019 after some difficulty. But less than six months after the rules came into force, amid an outcry over air quality, the government imposed even stricter limits on its Ventanas smelter, which could require further investments or its permanent closure. Meanwhile, Codelco is locked in a legal battle with Chile’s General Comptroller, a government regulator, which wants to subject the mining company to the same scrutiny as it does ministries, municipal governments and other public bodies. The move could seriously hinder Codelco’s ability to function as a commercial business, Guajardo says. The government is working on legislation to clarify Codelco’s status, but together with criticism levelled at the high salaries paid to the company’s executives, and accusations of corruption, Guajardo says, hopes of reaching a consensus on the company look slim. Compared to the other pressing issues facing Chile’s politicians — expanding the welfare state, stabilizing government finances and agreeing on a new constitution — Codelco is not a priority. But without action, the source of much of Chile’s recent prosperity could soon be at risk. “There is a lack of long-term vision for this milk cow, which grows thinner with each year that passes,” Wood laments. “We are almost on the threshold of an emergency.” Earlier this month, Codelco announced that it was taking advantage of low interest rates to raise US$2 billion via bond issues in New York for debt refinancing and mine expansions. The company sold US$1 billion in 10-year bonds at 3.175% and another US$1 billion in 30-year bonds at 3.958%. TNM

2020-01-14 5:53 PM

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JANUARY 20–FEBRUARY 2, 2020 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / JANUARY 6–10 The S&P/TSX Composite Index rose 0.99% to 17,234.49 during the first full trading week of January. The S&P/TSX Global Mining Index fell 1.15% to 80.85, the S&P/TSX Global Base Metals Index lost 1.06% to 107.11, and the S&P/TSX Global Gold Index (USD) dropped 2.39% to 226.12. Spot gold climbed US$9.80 per oz. to US$1,562.10 per ounce. Record quarterly and year-end results sent Kirkland Lake Gold up $1.17 to $58.33 per share. The company produced 279,742 oz. gold in the fourth quarter, up 21% year-on-year, with the increase driven by record production (191,893 oz.) at its Fosterville mine in Australia. Consolidated production in 2019 totalled 974,615 oz., 35% higher than 2018, with production at Fosterville of 619,366 oz. beating guidance of 570,000 to 610,000 ounces. The Macassa mine in northern Ontario produced a total of 241,297 oz. gold last year, in line with the company’s 240,000 to 250,000 oz. guidance. Its Holt complex, also in Ontario, produced 113,952 oz. compared to 127,344 oz. in 2018. The company ended 2019 with cash and equivalents of US$705 million — a 112% jump from the US$332 million it held at the end of 2018. This year Kirkland Lake is targeting production of between 950,000 and 1 million ounces. Shares of Detour Gold climbed 83¢ to $25.68 on delivering production results in

the top quartile of its guidance range at its Detour Lake mine in northeastern Ontario. The company churned out 601,566 oz. gold within its guidance range of 590,000 to 605,000 ounces. Detour improved its net debt position of US$117 million at the end of 2018 to a net cash position of US$114 million at the end of 2019, representing US$231 million in cash generated over the course of 2019. Equinox Gold’s shares advanced 70¢ to $10.40. The company reported 2019 production of 201,000 oz. gold, achieving its 2019 guidance of 200,000 to 235,000 ounces. Its Mesquite mine in California contributed 125,700 oz. gold to the tally last year and its Aurizona mine in Brazil, which started commercial production on July 1, 2019, produced 75,300 oz. gold, including ounces poured TSX MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Suncor Energy SU B2Gold Corp BTO Barrick Gold ABX First Quantum FM Kinross Gold K Yamana Gold YRI Wallbridge Mng WM Contintl Gold CNL New Gold NGD Lundin Mng LUN

18191 45.03 42.77 44.79 + 2.16 16801 5.30 4.94 5.17 + 0.15 16277 24.68 22.88 23.29 - 0.82 15449 13.17 11.85 12.64 + 0.21 14724 6.29 5.81 5.93 - 0.19 13353 5.19 4.77 4.86 - 0.19 12525 0.94 0.79 0.85 - 0.05 10577 5.46 5.35 5.43 + 0.07 10013 1.34 1.16 1.31 + 0.14 7799 7.86 7.40 7.70 + 0.06

during commissioning and ramp-up. It had an unrestricted cash balance of US$68 million at the end of 2019 and another US$10 million under a revolving credit facility. In addition to Mesquite and Aurizona, Equinox is building its Castle Mountain gold mine, also in California. Equinox says it will provide its guidance for 2020 after its proposed merger with Leagold, which will transform the company into one of the world’s top gold

producers, with six producing mines and four growth projects in the Americas. Teck Resources expanded its agreement with Ridley Terminals for steelmaking coal shipments. The agreement runs from January 2021 to December 2027 and increases contracted capacity from 3 million tonnes per year to 6 million tonnes per year, with an option to extend up to 9 million tonnes per year. The company’s B shares ended down $1.29 at $20.68. TNM

TSX GREATEST PERCENTAGE CHANGE

PolyMet Mng New Milln Iron St Augustine Jaguar Mng Ascendant Res Star Diamond Prophecy Coal Orocobre Yorbeau Res Potash Ridge U3O8 Corp Freegold Vent Ascot Res TMAC Resources Scandium Intl Candente Coppr Treasury Metal General Moly Western Potash Avino Silver

POM NML SAU JAG ASND DIAM PCY ORL YRB SOP UWE FVL AOT TMR SCY DNT TML GMO WRX ASM

324 872 1378 6742 366 2788 2872 199 399 1318 258 361 1151 936 481 2144 727 6 87 191

0.68 0.08 0.02 0.26 0.41 0.51 0.50 3.15 0.03 0.03 0.14 0.06 0.98 3.74 0.10 0.03 0.32 0.33 0.29 0.85

0.34 0.06 0.02 0.19 0.34 0.39 0.38 2.47 0.03 0.03 0.08 0.05 0.73 3.05 0.08 0.03 0.28 0.29 0.26 0.70

0.55 0.08 0.02 0.26 0.41 0.50 0.46 3.08 0.03 0.03 0.10 0.05 0.76 3.09 0.08 0.03 0.28 0.29 0.26 0.73

TSX GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Suncor Energy Kirkland Lake Detour Gold Nutrien Equinox Gold Lithium Amer Orocobre Dundee Prec Mt Nexa Resources Teranga Gold Wheaton Prec M Agnico Eagle Teck Res Teck Res First Majestic Pan Am Silver Ero Copper Barrick Gold Labrador IOR MAG Silver

+ 66.7 + 36.4 + 33.3 + 30.8 + 24.6 + 22.0 + 21.3 + 20.3 + 20.0 + 20.0 - 26.9 - 23.1 - 18.3 - 16.3 - 15.8 - 14.3 - 12.7 - 12.1 - 12.1 - 12.0

VOLUME WEEK (000s) CLOSE CHANGE

SU KL DGC NTR EQX LAC ORL DPM NEXA TGZ WPM AEM TECK.B TECK.A FR PAAS ERO ABX LIF MAG

18191 44.79 5186 58.33 5802 25.68 5511 61.64 2499 10.40 1231 5.14 199 3.08 2544 5.76 4 11.00 2587 7.22 4225 36.27 3219 77.44 6621 20.68 25 20.89 5070 14.39 3013 29.44 634 21.58 16277 23.29 1350 23.09 1100 14.16

+ 2.16 + 1.17 + 0.83 + 0.80 + 0.70 + 0.56 + 0.52 + 0.46 + 0.39 + 0.35 - 2.13 - 1.68 - 1.29 - 1.17 - 1.16 - 1.04 - 0.92 - 0.82 - 0.80 - 0.67

TSX VENTURE EXCHANGE / JANUARY 6–10 The S&P/TSX Venture Composite Index fell 0.87% to 582.35. Spot gold moved higher to US$1,562.10 per oz., up US$9.80 per ounce. Shares of K92 Mining rose 20¢ to $3.20 on the back of record annual production from its Kainantu mine in the Eastern Highlands of Papua New Guinea. The company reported 2019 production hit a record 79,838 oz. gold, 951,792 lb. copper and 22,984 oz. silver for a total of 82,256 equivalent oz. gold — a yearon-year 74% increase. This exceeds the top end of the company’s upgraded guidance range of 72,000 to 80,000 equivalent oz. gold. The company posted record production despite significant interruptions to underground operations due to infrastructure upgrades, as well as the installation of new equipment at the plant. Underground development ramped up over the year, with total tonnes mined rising from under 60,000 tonnes in the first quarter to 120,000 tonnes in the fourth quarter. The Kainantu mine consists of the Kora and Kora North deposits. Commercial production started in February 2018 and the company has started a mine expansion, with the goal of doubling current capacity to 400,000 tonnes a year and increasing annual gold production to 120,000 equivalent oz. gold. ScoZinc Mining increased 17¢ to 72¢ on no company news. In mid-December, the

company announced a larger mineral resource estimate for its wholly owned Scotia mine near Halifax, in Nova Scotia. The estimate by SRK almost doubles the mine’s mineral resources. Total measured and indicated resources now stand at 25.45 million tonnes grading 1.89% zinc and 0.99% lead for 2.84% equivalent grade zinc, representing a 105% increase in tonnage from the previous estimate. Inferred resources measure 5.01 million tonnes averaging 1.55% zinc and 0.66% lead, for a 2.13% equivalent grade zinc. This marks a 7% increase in tonnage from the previous resource estimate. ScoZinc is preparing a prefeasibility study, which will include a mineral reserve estimate. Eloro Resources gained 15¢ to 38¢. The company signed a definitive option agreement TSX-V MOST ACTIVE ISSUES

Leeta Gold Castle Peak Mg Lions Bay Cap Kilo Goldmines Surge Explor K92 Mining Granada Gold Critical Elem Core Gold Scottie Res

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

HIVE 12978 CAP 7997 LBI 7159 KGL 6423 SUR 6199 KNT 5736 GGM 5719 CRE 5686 CGLD 4820 SCOT 4564

0.13 0.02 0.04 0.01 0.03 3.37 0.23 0.45 0.28 0.30

0.10 0.02 0.04 0.01 0.02 3.02 0.12 0.34 0.24 0.20

0.12 + 0.02 + 0.04 - 0.01 unch 0.02 - 3.20 + 0.19 + 0.39 + 0.27 + 0.26 +

0.01 0.01 0.01 0.00 0.01 0.20 0.07 0.01 0.03 0.05

to earn a 99% stake in the Iska Iska polymetallic epithermal project in southern Bolivia. The property, which contains silver, zinc, lead, gold, copper and bismuth mineralization, is 48 km north of Tupiza city in the country’s Potosi department. Eloro completed geological mapping on the property, which showed alteration and vein minerals in a 5 sq. km area. Preliminary evaluation, including 42 chan-

nel samples in underground workings and at surface, returned anomalous silver values up to 694 grams silver per tonne, while samples of anomalous gold values returned up to 28.6 grams gold per tonne. Zinc values ranged between 1.05% and 16.95% zinc; lead values between 0.41% and 16.95%; and copper values between 0.1% and greater than 1%. The property has access to road, water and electricity. TNM

TSX-V GREATEST PERCENTAGE CHANGE

Karoo Expl Eurotin Red Oak Mining Cache Explor Stria Lithium Honey Badger E Alliance Mng Norra Metals American Lith Lithium Energi Frontline Gold Goldstrike Res MetalCorp Murchison Min Jourdan Res Plate Res Surge Explor Stans Energy Benz Mining Gold Rush Cari

AHE.H TIN.H ROC.H CAY SRA TUF ALM NORA LI LEXI FGC GSR MTC MUR JOR ACP SUR HRE BZ GDBO

390 1247 21 1641 2007 2274 3210 558 2052 577 1892 2053 544 389 433 95 6199 1828 328 297

0.50 0.02 0.15 0.01 0.02 0.03 0.02 0.05 0.27 0.20 0.01 0.02 0.03 0.17 0.02 0.14 0.03 0.02 0.07 0.02

0.14 0.01 0.00 0.01 0.01 0.02 0.01 0.03 0.15 0.10 0.00 0.01 0.00 0.11 0.01 0.09 0.02 0.01 0.05 0.01

0.45 0.02 0.12 0.01 0.01 0.03 0.01 0.05 0.27 0.18 0.01 0.01 0.02 0.11 0.01 0.09 0.02 0.01 0.05 0.01

TSX-V GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

+ 400.0 + 300.0 + 166.7 + 100.0 + 100.0 + 100.0 + 100.0 + 80.0 + 76.7 + 71.4 - 50.0 - 50.0 - 40.0 - 35.3 - 33.3 - 33.3 - 33.3 - 33.3 - 33.3 - 33.3

VOLUME WEEK (000s) CLOSE CHANGE

Karoo Expl Great Bear Res Gold Reserve K92 Mining ScoZinc Mg Millennial Lit Eloro Res Mason Graphite Osino Res Gunpoint Expl Victoria Gold Abitibi Royal Novo Res Cantex Mn Dev Aurania Res BonTerra Res Pac Booker Min Gold X Mining Bear Creek Mng Aurion Res

AHE.H GBR GRZ KNT SZM ML ELO LLG OSI GUN VIT RZZ NVO CD ARU BTR BKM GLDX BCM AU

390 0.45 531 8.62 11 2.20 5736 3.20 33 0.72 381 1.26 462 0.38 4080 0.36 1668 0.83 15 0.65 512 8.70 8 18.00 839 3.41 1605 0.84 311 3.99 560 1.88 56 1.81 297 2.30 621 2.72 663 1.91

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

0.36 0.21 0.21 0.20 0.17 0.16 0.15 0.15 0.14 0.13 0.56 0.40 0.34 0.31 0.24 0.21 0.19 0.18 0.14 0.13

U.S. MARKETS / JANUARY 6–10 The Dow Jones Industrial Average rose 0.66% to 28,823.77 and the S&P 500 Index gained 0.94% to 3,265.35. Spot gold climbed US$9.80 per oz. to finish at US$1,562.10 per ounce. Nutrien, the world’s largest provider of crop inputs and services, bought 100% of the equity of Brazilian agricultural retailer Agrosema Comercial Agricola. Agrosema has annual sales of US$60 million across 12 farm centres, with 200 employees servicing thousands of farm customers. Chuck Magro, Nutrien’s president and CEO, said the company expects “to continue to expand our operations in Brazil in the coming years, both through acquisition and expansion of product and service offerings.” Nutrien has two main operations in Brazil, with a central fertilizer blending facility in Itapetininga and six more facilities in the states of Sao Paulo and Minas Gerais. Nutrien also owns Agrichem, which produces specialty liquid fertilizers for the entire country. Shares of Nutrien ended at US$47.21, up US36¢. Shares of Consol Energy fell US$2.92 per share to US$11.56. The company, which produces thermal and metallurgical coal, announced its first major step in the coalto-products area with the US$3.5-million

10_JAN20_MarketNews.indd 10

acquisition of a 25% equity stake in CFOAM Corp., a newly formed holding company based in the United States. CFOAM LLC makes highperformance carbon foam products from coal that are geared to the industrial, aerospace, military and commercial product markets. Consol’s president and CEO, Jimmy Brock, said the coal-to-products area “leverages certain attractive properties of coal but with significantly lower emissions and greater value uplift potential than conventional combustion applications.” Consol is providing a US$1.1million term loan for working capital and invested another US$0.4 million to acquire U.S. MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Yamana Gold* AUY 108428 4.00 3.65 3.72 - 0.16 Vale* VALE 94976 13.37 12.93 12.97 - 0.32 Freeport McMoR* FCX 86219 13.31 12.53 12.90 + 0.10 Barrick Gold* GOLD 60824 19.01 17.46 17.85 - 0.72 United States S* X 60584 11.27 10.51 10.72 - 0.02 Hecla Mining* HL 60269 3.48 3.04 3.08 - 0.27 Kinross Gold* KGC 57305 4.83 4.44 4.53 - 0.18 Cleveland-Clif* CLF 51525 8.15 7.56 7.60 - 0.22 Coeur Mng* CDE 47404 7.65 6.15 6.55 - 1.15 Newmont* NEM 41954 43.85 41.55 42.27 - 0.56

a first lien CFOAM LLC note. Endeavour Silver’s shares fell 9.3% to US$2.15. The company reported that operating issues at Guanacevi, Bolanitos, El Compas and El Cubo lowered production figures in 2019. Both silver and gold production decreased

27% year-on-year. CEO Bradford Cooke said Endeavour expects higher production at each operating mine in 2020, noting that the company made “sweeping changes” to the mining operations in Q2 and Q3, and is “seeing production turning around.” TNM

U.S. GREATEST PERCENTAGE CHANGE

Mechel* MTL Lithium Amer* LAC DRDGOLD* DRD Suncor Energy* SU Southern Copp* SCCO NACCO Ind* NC Kirkland Lake* KL BKH Black Hills* Freeport McMoR* FCX Nutrien* NTR CONSOL Energy* CEIX Coeur Mng* CDE Peabody Enrgy* BTU Intrepid Pots* IPI Alcoa* AA Endeavr Silver* EXK Turquoise HIl* TRQ CONSOL Energy* CNX Hecla Mining* HL First Majestic* AG

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

5054 3.29 2248 4.12 1016 6.09 23409 34.50 3090 43.21 95 48.42 5909 45.44 1479 77.70 86219 13.31 6739 47.99 2194 14.65 47404 7.65 9537 10.25 3894 2.66 22443 21.55 13369 2.42 10571 0.75 16666 8.62 60269 3.48 26339 12.26

2.22 3.39 5.38 32.93 41.12 45.90 42.52 75.25 12.53 46.39 11.46 6.15 8.50 2.21 19.34 2.09 0.66 7.54 3.04 10.84

2.91 3.95 6.06 34.28 42.99 47.84 44.63 77.46 12.90 47.21 11.56 6.55 8.62 2.30 19.45 2.15 0.68 7.81 3.08 11.01

+ 44.8 + 12.2 + 10.4 + 4.4 + 3.5 + 3.3 + 1.5 + 1.4 + 0.8 + 0.8 - 20.2 - 14.9 - 14.1 - 13.2 - 9.5 - 9.3 - 8.8 - 8.5 - 8.1 - 8.0

U.S. GREATEST VALUE CHANGE

NACCO Ind* NC Suncor Energy* SU Southern Copp* SCCO Black Hills* BKH MartinMarietta* MLM Mechel* MTL Kirkland Lake* KL DRD DRDGOLD* Lithium Amer* LAC Nutrien* NTR Chevron Corp* CVX Arch Coal* ARCH CONSOL Energy* CEIX Alcoa* AA Wheaton Prec M* WPM Agnico Eagle* AEM Peabody Enrgy* BTU Coeur Mng* CDE Teck Res* TECK First Majestic* AG

VOLUME WEEK (000s) CLOSE CHANGE

95 47.84 23409 34.28 3090 42.99 1479 77.46 2429 276.87 5054 2.91 5909 44.63 1016 6.06 2248 3.95 6739 47.21 38802 116.44 1604 69.93 2194 11.56 22443 19.45 9012 27.77 6341 59.30 9537 8.62 47404 6.55 15037 15.84 26339 11.01

+ 1.52 + 1.46 + 1.44 + 1.10 + 1.08 + 0.90 + 0.64 + 0.57 + 0.43 + 0.36 - 4.57 - 3.61 - 2.92 - 2.05 - 1.77 - 1.62 - 1.42 - 1.15 - 1.10 - 0.96

2020-01-14 5:55 PM

GLOBAL MINING NEWS · SINCE 1915

THE NORTHERN MINER / JANUARY 20–FEBRUARY 2, 2020

M E TA L S , M I N I N G A N D M O N EY M A R K E T S TSX WARRANTS

PRODUCER AND DEALER PRICES

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, January 24, 2019 (change from December 17, 2019 in brackets): 8060 (+320) Aluminium Alloy 1410675 (-60250) Aluminium 132725 (-11850) Copper 66475 (+375) Lead Nickel 171066 (+14688) 7055 (-70) Tin 51200 (+75) Zinc

Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$57.40 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$11.75 Cobalt: US$14.74/lb. Copper: US$2.86/lb. Copper: CME Group Futures Feb. 2020: US$2.87/lb.; Mar. 2020: US$2.87/lb Iridium: NY Dealer Mid-mkt US$1,480.00/tr oz. Iron Ore 62% Fe CFR China-S: US$94.00/tonne Lead: US$0.86/lb. Phosphate Rock: US$86.00/tonne Potash: US$226.00/tonne Rhodium: Mid-mkt US$7,925.00 tr. oz. Ruthenium: Mid-mkt US$250.00/tr. oz. Silver: Handy & Harman Base: US$18.02 per oz.; Handy & Harman Fabricated: US$22.52 per oz. Tin: US$7.76/lb. Uranium: U3O8, Trade Tech spot price: US$24.85 per lb. U308 Zinc: US$1.07/lb. Prices current Jan. 14, 2019

Alio Gold Inc. (ALO.WT) - 10 Warrants to purchase one common share of the Issuer at $7.00 until expiry Alio Gold Inc. J (ALO.WT.A) - One Warrant to purchase one common share of the Issuer at $8.00 until expiry Ascendant Resources (ASND.WT) - Wt buys sh @ $1.25 to Mar 7/22 eColbalt Solutions Inc. J (ECS.WT) - One Warrant to purchase one common share of the Issuer at US$1.95 per share until expiry Excellon Resources Inc (EXN.WT.A) - One warrant to purchase one common share of the Issuer at $2.80 until expiry Excellon Resources Inc. (EXN.WT) - One Warrant to purchase one common share of the issuer at $1.40 per share until expiry 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 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. Aurania Resources Ltd. (ARU.RT) - Fourteen (14) Rights exercisable for one common share at $2.70 per common share. Avidian Gold Corp. (AVG.RT) - Three rights and $0.11 are required to purchase one Share. Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.50 per share. Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.30 per share. Cordoba Minerals Corp (CDB.WT) - One warrant to purchase one common share at $1.08 per share. Cordoba Minerals Corp (CDB.WT) - One warrant to purchase one common share at $1.08 per share.

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

Platinum Group Metals Ltd. (PTM.WT.U) - One Warrant to purchase one common share of the Issuer at US$0.17 until expiry Royal Nickel Corporation (RNX.WT) One Warrant to purchase one common share of the Issuer at $0.50 until expiry. Sandstorm Gold (SSL.WT.B) - One Warrant to purchase one common share of the Issuer at US $14.00 until expiry. Sherritt International Corporation (S.WT) - Each whole Warrant entitles the holder to acquire between 1.00 and 1.25 additional common shares (as bulletin 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

NORTH AMERICAN STOCK EXCHANGE INDICES

52-week

Index Jan 10 Jan 09 Jan 08 Jan 07 Jan 06 High Low S&P/TSX Composite 17234.49 17235.57 17167.82 17168.06 17105.47 15527.30 12400.15 S&P/TSXV Composite 582.35 577.67 577.91 585.47 581.75 1050.26 883.52 S&P/TSX 60 1025.66 1026.72 1022.96 1021.30 1018.26 896.74 709.99 S&P/TSX Global Gold 254.66 250.64 251.86 261.89 258.95 218.90 149.29 DJ Precious Metals 214.42 214.42 216.40 225.42 223.95 420.72 130.95

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of Dec 31, 2019 (with changes from Dec 15, 2019) Largest short positions Nemaska Lith NMX 23641520 -260089 12/15/2019 Sandstorm Gold SSL 21128863 1627358 12/15/2019 NGD 15790345 -1192608 12/15/2019 New Gold ABX 15589536 2359833 12/15/2019 Barrick Gold -90999 12/15/2019 Ivanhoe Mines IVN 15549652 K 14027182 538978 12/15/2019 Kinross Gold Suncor Energy SU 12677307 3830492 12/15/2019 Nexgen Energy NXE 10875181 -903733 12/15/2019 734239 12/15/2019 Premier Gold M PG 10335483 9713293 2400636 12/15/2019 First Quantum FM OceanaGold OGC 9171461 5828306 12/15/2019 FVI 8872284 554055 12/15/2019 Fortuna Silvr 694284 12/15/2019 RNC Minerals RNX 8266905 LUN 7862677 636350 12/15/2019 Lundin Mng Osisko Mng Inc OSK 7355337 1368327 12/15/2019 Largest increase in short position OceanaGold OGC 9171461 5828306 12/15/2019 Suncor Energy SU 12677307 3830492 12/15/2019 First Quantum FM 9713293 2400636 12/15/2019 ABX 15589536 2359833 12/15/2019 Barrick Gold Sandstorm Gold SSL 21128863 1627358 12/15/2019 Largest decrease in short position SMF 6178900 -1941975 12/15/2019 Semafo SIL 944709 -1502373 12/15/2019 SilverCrest Guyana Gldflds GUY 1834566 -1459721 12/15/2019 NGD 15790345 -1192608 12/15/2019 New Gold GoldMining GOLD 139580 -989396 12/15/2019

Short positions outstanding as of Dec 31, 2019 (with changes from Dec 15, 2019) Largest short positions NKL 3902689 -6746 12/15/2019 Conic Metals Boundary Gold BDGC 3059000 3057000 12/15/2019 Novo Res NVO 2259213 -172845 12/15/2019 Ucore Rare Mtl UCU 1864221 1107713 12/15/2019 CMC Metals CMB 1240000 821488 12/15/2019 Terrax Mnrls TXR 1044287 745160 12/15/2019 IMPACT Silver IPT 929632 -395922 12/15/2019 Lithium Energi LEXI 890105 870905 12/15/2019 Azincourt Ener AAZ 788419 661705 12/15/2019 Lion One Mtls LIO 750093 23049 12/15/2019 New Pac Metals NUAG 701716 233738 12/15/2019 ALX Uranium AL 609031 516031 12/15/2019 Leeta Gold HIVE 584013 178375 12/15/2019 K92 Mining KNT 580430 38886 12/15/2019 Galantas Gold GAL 566582 566262 12/15/2019 Largest increase in short position BDGC 3059000 3057000 12/15/2019 Boundary Gold Ucore Rare Mtl UCU 1864221 1107713 12/15/2019 Lithium Energi LEXI 890105 870905 12/15/2019 CMC Metals CMB 1240000 821488 12/15/2019 Terrax Mnrls TXR 1044287 745160 12/15/2019 Largest decrease in short position Camino Min COR 6184 -5846816 12/15/2019 Gitennes Expl GIT 202172 -2787983 12/15/2019 New Carolin Gd LAD 9173 -1546808 12/15/2019 Dios Expl DOS 8320 -1269834 12/15/2019 Strikepoint Gd SKP 56813 -484369 12/15/2019

Maple Gold Mines Ltd. (MGM.WT) One warrant to purchase one common share at $0.40 per share Mexican Gold Corp. (MEX.WT) - One warrant to purchase one common share at $0.12 per share. Millennial Lithium Corp. (ML.WT) - One warrant to purchase one common share at $4.25 per share. 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 Ucore Rare Metals Inc. (UCU.RT) - One (1) right exercisable for one share at $4.00 per share. Vision Lithium Inc. (VLI.WT) - One warrant to purchase one common share at $0.15 per share. Yellowhead Mining Inc. (YMI.RT) - One (1) Right and $0.12 are required to prchase one Share

NEW 52-WEEK HIGHS AND LOWS JANUARY 6–10, 2020 111 New Highs Abitibi Royal Abitibi Royal* Antler Gold * Aura Minerals AurCrest Gold* Bear Creek Mng* Benchmark Met Benchmark Met* Blue Lagoon Calibre Mng Canada Cobalt * CANEX Metals CANEX Metals * Capstone Mng Chalice Gold M* Clean Comm* Comstock Mng* Contintl Gold Contintl Gold* Copper Reef Mg Crestview Expl Decade Res Decade Res* Detour Gold

Diamond Fields Dixie Gold DRDGOLD* Dunnedin Vent* DV Resources* Eastern Platin* Equinox Gold Evergold Evergold* Excelsior Mng Excelsior Mng* Generation Min Generation Min* Genesis Mtls Genesis Mtls* Gespeg Res Gold Lion Res Golden Valley* GoldMining GoldMining* Gran Colombia* Guerrero Vents HighGold* Jubilee Metals* Juggernaut Exp*

K92 Mining K92 Mining* Karoo Expl Kombat Copper Lake Resources* Leagold Mg Leagold Mg* Liberty Gold* Manitou Gold * Mechel* Metalla Rylty Metalla Rylty* Metallic Mnrls Metallic Mnrls* Minera IRL Minera IRL* Mountain Boy New Pac Metals New Pac Metals* Newport Expl NGEx Minerals* Orla Mng Ltd Orla Mng Ltd* Otis Gold* Precipitate Gl

Precipitate Gl* Primary Energy Rainy Mtn Royl* Red Oak Mining Rio Silver Rise Gold Corp RJK Explor* Robex Res San Marco Res San Marco Res* Scottie Res Scottie Res* ScoZinc Mg Sibanye-Stillw* Skeena Res Skeena Res* Star Diamond Star Diamond* Stellar Africa Talisker Res Talisker Res* Teranga Gold Teranga Gold* Timberline Res Tocvan Venture

Tonogold Res* Torex Gold* TriMetals Mng* Turmalina Met Universal Vent Valterra Res* Victoria Gold Vizsla Res Vizsla Res * Westkam Gold* X-Terra Res* Xtra-Gold Res* 36 New Lows Applied Min* Archon Mineral* Benton Res Blue Lagoon* Boreal Metals * Cabral Gold* Centurion Mnls* Conquest Res CONSOL Energy* Doubleview Cap* EVI Global Grp Fremont Gold*

Giyani Gold Glen Eagle Res* Inca One Gold* Inter-Rock Mnl* INV Metals* Laramide Res Margaret Lake* MAX Res Monterey Min Nutrien Paleo Resource* Peabody Enrgy* Pike Mountain PUF Vent Inc * Pure Energy* Rio Silver Sanatana Res* Silver Predatr* Silverore Mns* TMAC Resources Tri Origin Exp Universal Cop* Vendetta Mng* Worldwide Res*

DAILY METAL PRICES Daily Metal Prices Date Jan 13 Jan 10 Jan 9 Jan 8 Jan 7 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) Al Alloy 1330/1340 1370/1380 1360/1375 1375/1390 1375/1390 Aluminum 1766/1792 1771/1797.50 1770.50/1799 1771/1805 1793.50/1826 Copper 6176.50/6200 6153/6179 6155/6184 6153.50/6174 6134/6157 1891/1912 1921.50/1938 1900/1910 1908/1924.50 1904.50/1922.50 Lead 14185/14270 14040/14130 14120/14190 13805/13875 14390/14450 Nickel 17250/17250 17250/17250 17225/17225 16950/19650 13855/13935 Tin 26366/2352 2381/2370 2417/2406 2405/2385 16925/16925 Zinc PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.) Gold AM 1550.35 1548.80 1547.85 1582.85 1566.50 Gold PM 1549.90 1553.60 1550.75 1571.95 1567.85 Silver 17.99 17.92 17.91 18.42 18.15 Platinum 977.00 969.00 958.00 972.00 961.00 Palladium 2134.00 2110.00 2119.00 2103.00 2030.00

CANADIAN GOLD MUTUAL FUNDS Fund Jan 10 ($) AGF Glob Re A Fd MF 19.13 BMO Prec Mtls Fd A BMO ZGD 60.98 BMO ZJG 60.70 CIBC Prec Metal Fd A 12.29 Dyn Prec Metls Fd A 8.89 Harvest HGGG Horizons HEP IG MacGbPreMetCl A 11.29 iShares XGD 15.88 Mac Prec Met Cl A 59.27 NBI PrecMetFd Invt 16.23 NPT Go&PrMinFd A 39.06 NPT SilverEquCl A 6.24 RBC GblPreMetFd A 44.52 Sentry Pre Met Fd A TD Prec Mtl Fd Inv 41.90

Jan 03 ($) 19.18 22.63 62.42 61.31 12.43 8.96 24.54 30.15 11.47 16.16 60.20 16.47 39.96 6.54 44.79 38.78 42.54

Change ($) Change (%) YTDChange (%) MER (%) TotalAssets (M$) -0.05 -0.27 4.23 2.79 87.45 -0.66 -2.90 29.26 2.41 55.12 -1.44 -2.31 50.95 0.61 -0.61 -1.00 41.66 0.60 -0.14 -1.09 34.40 2.44 50.27 -0.07 -0.83 36.28 2.73 434.71 -0.50 -2.05 0.01 4.94 -1.21 -4.00 38.40 0.83 -0.17 -1.52 42.57 2.68 35.55 -0.28 -1.75 40.33 0.61 866.72 -0.93 -1.55 42.75 2.52 66.17 -0.24 -1.46 44.36 2.46 31.38 -0.91 -2.27 24.09 3.19 -0.30 -4.57 44.19 2.98 -0.27 -0.60 44.28 2.13 379.40 -1.30 -3.36 17.33 2.32 170.53 -0.64 -1.50 39.39 2.26 132.93

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

Jan 10 Jan 09 Jan 08 Jan 07 Jan 06 1.3063 1.3063 1.3036 1.3002 1.2965 0.7655 0.7655 0.7671 0.7691 0.7713

Exchange rates (Quote Media, January 10, 2020) C$ to EURO C$ to YEN C$ to Mex Peso C$ to SA Rand C$ to AUS 1.1171 0.6891 83.8290 14.4294 10.8897 C$ to India Rupee C$ to Swiss Franc C$ to S. Korea Won C$ to UK Pound C$ to China Yuan 0.5858 5.3055 54.5152 0.7451 887.0394 US to AUS US to EURO US to YEN US to Mex Peso US to SA Rand 1.4592 0.9002 109.5065 18.8488 14.2252 US to UK Pound US to China Yuan US to India Rupee US to Swiss Franc US to S. Korea Won 0.7652 6.9527 71.1962 0.9733 1158.8100

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.$

11_JAN20_MMMM.indd 11

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

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

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

GLOBAL MINING NEWS · SINCE 1915

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

2020-01-14 4:25 PM

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: JANUARY 6â&#x20AC;&#x201C;10, 2020 (100s) Stock

WWW.NORTHERNMINER.COM

JANUARY 20â&#x20AC;&#x201C;FEBRUARY 2, 2020 / THE NORTHERN MINER

Week

12-month

Exc Volume High Low Last Change High Low

A 1911 Gold* O 276 1911 Gold V 829 21C Metals* O 169 21C Metals C 1038 66 Resources C 214 Abacus Mining V 511 Abacus Mining* O 421 Abcourt Mines V 810 Abcourt Mines* O 489 O 137 Aben Resources* Aben Resources V 318 Abitibi Royal* O 3 Abitibi Royal V 8 AbraPlata Res* O 351 AbraPlata Res V 675 O 5 Academy Metals* V 52 Academy Metals Adamera Min* O 389 Adamera Min V 413 Adex Mining V 5 V 2117 Advance Gold O 394 Advantage Lith* Advantage Lith V 606 Adventus V 1092 Adventus* O 8 AEX Gold V 371 African Gold V 3070 African Gold* O 602 African Min* O 98 0 African Rainb* O Aftermath Silv* O 1050 Agnico Eagle* N 6341 Agnico Eagle T 3219 AgriMinco* O 8 58 Aguila Amer Gd V AJN Resources C 6 Alacer Gold T 3776 Alamos Gold T 2968 Alamos Gold* N 8333 Alaska Pac Egy* O 8161 Alba Minerals* O 0 Alcoa* N 22443 V 29 Aldebaran Res Alderon Iron* O 6 Alderon Iron T 541 Aldever Res* O 1 Aldever Res V 70 Alexandra Cap* O 303 Alexco Res* X 9069 Alexco Res T 2016 Algold Res V 216 Algold Res* O 75 Alianza Min V 863 Alianza Min* O 35 Alien Metals* O 74 Alio Gold* X 1006 Alio Gold T 337 Allegiant Gold V 117 Allegiant Gold* O 190 Alliance Mng V 3210 Alliance Res* D 2651 Almaden Min T 95 Almaden Min* X 1084 Almadex Min* O 75 Almadex Min V 125 Almonty Ind T 946 Almonty Ind * O 23 Aloro Mining* O 5 Aloro Mining V 189 Alpha Lithium V 29 Alpha Lithium* O 10 90 Alphamin Res * O Alphamin Res V 3314 Altai Resource V 346 450 Altair Res Inc V Altamira Gold* O 26 Altamira Gold V 428 Altan Nevada V 88 Altan Rio Min V 270 Altiplano Met V 794 Altius Mnrls T 362 Altius Mnrls * O 136 Alto Ventures* O 35 Alto Ventures V 325 O 486 Altura Mining* Alturas Min V 415 Altus Strat V 75 Alumina Ltd* O 66 ALX Uranium* O 82 ALX Uranium V 122 AM Resources V 262 Amani Gold* O 45 Amanta Res* O 70 Amarc Res V 260 Amarc Res* O 25 Amarillo Gold V 1443 Amarillo Gold* O 421 25 Amer Intl Vent* O American Batt* O 73 O 325 American Creek* American Creek V 758 American CuMo* O 97 American Lith V 2052 American Lith* O 742 O 282 American Mang* V 479 American Mang American Pac C 5687 American Pac* O 376 AmericanSierra* O 2 Americas Silvr T 1788 X 2267 Americas Silvr* Amerigo Res T 198 Amerigo Res* O 54 Amex Expl* O 53 Amex Expl V 383 Amilot Capital V 29 Amseco Expl V 51 Anaconda Mng T 1131 O 351 Anaconda Mng* Andes Gold* O 91 Andover Mng* O 6 Anfield Energy* O 82 Anfield Energy V 257 Angel Gold* O 24 Angel Gold V 57 Angkor Res V 194 Anglo American* O 687 Anglo American* O 14 Anglo Pac Grp T 2 AngloGold Ash* O 1 N 16542 AngloGold Ash* V 109 Antioquia Gold Antioquia Gold* O 19 Antler Gold V 403 Antler Gold * O 11 Antler Hill V 12 Antofagasta* O 1 Apex Res * O 30 Apex Res V 132 Appia Energy C 430 Appia Energy* O 103 Applied Min* O 1254 Aquila Res* O 247 Aquila Res T 231 Arbor Metals V 1551 Arch Coal* N 1604 Archon Mineral V 2 Archon Mineral* O 2 Arctic Star* O 9 Arctic Star V 449 Arcturus Vent* O 2 Arcus Dev Grp* O 6 Arcus Dev Grp V 569 Arcwest Explor V 123 Arcwest Explor* O 163 Arena Min* O 35 Arena Min V 113 Argentina Lith V 113 Argentina Lith* O 80 Argentum Silvr V 160 Argentum Silvr* O 1 Argo Gold C 407 Argo Gold* O 194 Argonaut Gold* O 375

12-15_JAN20_StockTables.indd 12

0.24 0.21 0.23 + 0.02 0.28 0.15 0.33 0.28 0.30 + 0.03 0.37 0.22 0.09 0.07 0.08 + 0.00 0.28 0.02 0.12 0.09 0.10 + 0.01 0.27 0.06 0.07 0.07 0.07 + 0.01 0.37 0.05 0.15 0.10 0.13 + 0.02 0.15 0.04 0.11 0.07 0.09 + 0.01 0.11 0.03 0.07 0.06 0.06 - 0.01 0.10 0.05 0.06 0.05 0.05 - 0.00 0.09 0.03 0.08 0.07 0.07 + 0.00 0.20 0.04 0.10 0.10 0.10 + 0.01 0.27 0.07 14.61 13.74 13.92 - 0.19 14.61 7.14 19.35 17.97 18.00 - 0.40 19.35 9.51 0.05 0.00 0.04 - 0.00 0.08 0.03 0.07 0.06 0.06 - 0.01 0.11 0.04 0.10 0.10 0.10 unch 0.00 0.96 0.10 0.13 0.12 0.13 + 0.02 1.40 0.11 0.03 0.02 0.02 - 0.00 0.05 0.01 0.03 0.03 0.03 unch 0.00 0.07 0.02 0.01 0.00 0.01 unch 0.00 0.02 0.01 0.24 0.17 0.18 - 0.04 0.29 0.05 0.29 0.22 0.25 - 0.05 0.54 0.10 0.37 0.29 0.33 - 0.05 0.70 0.14 0.94 0.87 0.93 unch 0.00 1.16 0.72 0.71 0.69 0.69 - 0.03 0.90 0.53 0.40 0.37 0.38 + 0.03 0.44 0.24 0.31 0.20 0.21 - 0.08 0.59 0.08 0.24 0.15 0.16 - 0.07 0.44 0.12 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 11.00 unch 0.00 13.60 9.50 0.38 0.27 0.28 - 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0.01 0.07 0.03 0.04 0.02 0.02 - 0.02 0.05 0.02 0.22 0.21 0.22 + 0.01 0.30 0.16 0.17 0.16 0.17 + 0.01 0.22 0.11 0.00 0.00 0.00 - 0.00 0.02 0.00 0.11 0.11 0.11 + 0.02 0.35 0.08 0.07 0.06 0.06 - 0.01 0.09 0.02 0.09 0.08 0.08 - 0.01 0.11 0.03 0.03 0.03 0.03 + 0.01 0.10 0.00 0.27 0.15 0.27 + 0.12 0.50 0.09 0.20 0.11 0.20 + 0.08 0.38 0.06 0.16 0.13 0.15 - 0.00 0.24 0.10 0.20 0.17 0.19 - 0.01 0.31 0.13 0.12 0.09 0.09 - 0.01 0.31 0.06 0.09 0.06 0.07 - 0.00 0.24 0.04 0.02 0.00 0.01 - 0.00 0.03 0.01 4.13 3.67 3.80 - 0.21 5.19 1.96 3.25 2.81 2.93 - 0.16 3.92 1.46 0.55 0.52 0.53 - 0.01 1.21 0.40 0.42 0.39 0.40 - 0.02 0.92 0.30 1.23 1.06 1.14 - 0.08 1.27 0.14 1.59 1.38 1.48 - 0.11 1.65 0.17 0.05 0.00 0.05 unch 0.00 0.15 0.03 0.07 0.00 0.07 + 0.02 0.10 0.02 0.29 0.25 0.25 - 0.02 0.36 0.19 0.22 0.19 0.20 - 0.01 0.27 0.14 0.01 0.00 0.01 - 0.00 0.02 0.00 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.09 0.07 0.09 - 0.00 0.20 0.06 0.12 0.10 0.11 + 0.01 0.26 0.09 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.02 0.00 0.02 unch 0.00 0.05 0.02 0.10 0.09 0.10 unch 0.00 0.20 0.09 14.33 14.08 14.18 - 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0.00 0.17 0.03 0.31 0.30 0.30 + 0.02 0.48 0.12 0.22 0.00 0.22 + 0.00 0.37 0.13 0.12 0.10 0.11 unch 0.00 0.33 0.07 0.09 0.09 0.09 unch 0.00 0.24 0.06 1.71 1.50 1.58 + 0.08 2.15 1.04

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Argonaut Gold T 3560 Arianne Phosph V 160 Arianne Phosph* O 91 Arizona Silver* O 50 Arizona Silver V 386 Armor Min V 12 Artemis Gold* O 29 Artemis Gold V 146 Asanko Gold* X 1463 Asanko Gold T 308 Asante Gold C 314 14 Asbestos Corp V Ascendant Res* O 39 Ascendant Res T 366 Ascot Res * O 769 Ascot Res T 1151 Ashanti Sanko V 28 AsiaBaseMetals V 4 Asian Mineral V 241 Aston Bay* O 199 Aston Bay V 836 Astorius Res V 26 ATAC Res V 378 ATAC Res* O 351 Atacama Res* O 8889 Atalaya Mining T 6 Athabasca Min* O 127 Athabasca Min V 237 Athena Silver* O 99 Atico Mining* O 102 Atico Mining V 119 Atlanta Gold* O 0 Atlantic Indus V 68 Atlas Cons Mng* O 1 Aton Resources* O 453 V 3 Aton Resources Aura Minerals* O 1 Aura Minerals T 4 Aura Resources V 73 Aura Resources* O 60 Auramex Res V 91 Aurania Res* O 114 Aurania Res V 311 Aurcana Corp V 4525 Aurcana Corp* O 1893 AurCrest Gold V 824 AurCrest Gold* O 2 Aurelius Min V 2629 Aurex Energy V 236 Aurion Res V 663 Aurion Res * O 326 Aurora Royal V 6 Aurwest Res C 62 AURYN Mining* O 44 T 718 Auryn Resource Auryn Resource* X 1152 Aust Mines* O 70 Austral Gold* O 33 Austral Gold V 90 Auxico Res C 546 Avalon Advance T 4426 Avalon Advance* O 1044 Avarone Metals* O 7 Avarone Metals C 294 Avesoro Res T 1 Avidian Gold V 260 Avino Silver* X 1664 Avino Silver T 191 Avrupa Min* O 174 Avrupa Min V 458 Awale Res V 1244 Axmin Inc V 47 Axmin Inc* O 12 Azarga Metals V 6 Azarga Metals* O 4 Azarga Uranium* O 330 Azarga Uranium T 812 Azimut Explor V 205 Azimut Explor* O 93 Azincourt Ener V 2384 Azincourt Ener* O 128 Aztec Minerals V 49 Aztec Minerals* O 16 Azteca Gold* O 198 Azucar Min V 92 Azucar Min* O 116

2.25 1.96 2.05 + 0.10 2.87 1.36 0.26 0.24 0.26 + 0.03 0.65 0.22 0.21 0.18 0.20 unch 0.00 0.49 0.17 0.12 0.11 0.11 - 0.01 0.19 0.08 0.16 0.14 0.15 - 0.01 0.25 0.10 0.34 0.00 0.34 + 0.02 0.59 0.31 1.09 0.96 0.99 - 0.03 1.20 0.81 1.40 1.25 1.28 - 0.02 1.60 0.95 0.98 0.86 0.89 - 0.06 1.10 0.50 1.26 1.13 1.16 - 0.06 1.45 0.68 0.05 0.04 0.04 - 0.01 0.08 0.03 0.47 0.30 0.40 - 0.08 0.55 0.30 0.30 0.27 0.29 + 0.05 0.44 0.12 0.41 0.34 0.41 + 0.08 0.58 0.17 0.76 0.58 0.59 - 0.12 0.94 0.34 0.98 0.73 0.76 - 0.17 1.25 0.45 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.45 0.40 0.40 - 0.05 0.64 0.12 0.60 0.47 0.47 - 0.13 0.89 0.10 0.06 0.05 0.05 - 0.01 0.08 0.03 0.09 0.06 0.07 - 0.02 0.11 0.05 0.12 0.11 0.12 + 0.01 0.50 0.09 0.23 0.21 0.23 unch 0.00 0.34 0.17 0.18 0.16 0.17 + 0.00 0.25 0.12 0.02 0.01 0.02 + 0.00 0.03 0.00 3.70 3.40 3.40 - 0.30 4.10 3.00 0.23 0.19 0.19 - 0.02 0.60 0.18 0.28 0.26 0.26 - 0.01 0.79 0.24 0.02 0.02 0.02 unch 0.00 0.06 0.01 0.26 0.24 0.25 - 0.00 0.30 0.17 0.33 0.31 0.33 + 0.01 0.40 0.22 0.00 0.00 0.04 unch 0.00 0.04 0.00 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.91 0.91 0.91 unch 0.00 1.29 0.84 0.02 0.01 0.01 - 0.01 0.05 0.01 0.00 0.00 0.03 unch 0.00 0.06 0.02 0.00 0.00 18.40 unch 0.00 18.40 11.78 26.00 25.67 25.98 + 0.25 25.99 16.21 0.05 0.05 0.05 unch 0.00 0.09 0.04 0.04 0.03 0.04 unch 0.00 0.06 0.02 0.05 0.04 0.04 - 0.01 0.08 0.03 3.39 2.89 3.05 - 0.20 3.40 1.64 4.46 3.76 3.99 - 0.24 4.50 2.18 0.35 0.27 0.28 - 0.02 0.79 0.21 0.26 0.21 0.21 - 0.03 1.25 0.00 0.05 0.04 0.05 + 0.01 0.05 0.02 0.04 0.04 0.04 unch 0.00 0.04 0.01 0.06 0.05 0.05 unch 0.00 0.06 0.02 0.13 0.09 0.11 + 0.01 0.50 0.08 2.08 1.85 1.91 - 0.13 2.35 0.85 1.60 1.44 1.47 - 0.10 1.77 0.60 0.03 0.00 0.03 + 0.01 0.11 0.02 0.01 0.01 0.01 - 0.02 0.14 0.02 0.24 0.12 0.18 - 0.06 0.74 0.03 1.88 1.67 1.72 - 0.10 2.45 1.16 1.44 1.27 1.31 - 0.10 1.84 0.88 0.01 0.01 0.01 + 0.00 0.06 0.01 0.06 0.05 0.05 unch 0.00 0.40 0.00 0.10 0.08 0.08 - 0.01 0.10 0.06 0.06 0.00 0.05 + 0.01 0.27 0.03 0.06 0.05 0.06 + 0.01 0.17 0.04 0.05 0.04 0.04 + 0.00 0.13 0.03 0.05 0.05 0.05 + 0.00 0.11 0.03 0.09 0.08 0.09 + 0.02 0.15 0.04 1.67 1.67 1.67 unch 0.00 2.85 0.42 0.14 0.12 0.12 - 0.01 0.37 0.07 0.65 0.54 0.56 - 0.08 0.81 0.39 0.85 0.70 0.73 - 0.10 1.07 0.53 0.03 0.03 0.03 - 0.00 0.05 0.01 0.04 0.00 0.04 unch 0.00 0.07 0.02 0.13 0.10 0.11 - 0.03 0.26 0.06 0.35 0.31 0.31 - 0.05 0.66 0.15 0.30 0.26 0.27 - 0.01 0.50 0.12 0.07 0.00 0.07 unch 0.00 0.13 0.05 0.04 0.00 0.04 + 0.00 0.09 0.03 0.18 0.15 0.17 + 0.01 0.22 0.08 0.23 0.20 0.22 + 0.01 0.28 0.11 0.56 0.50 0.50 - 0.03 0.59 0.22 0.43 0.38 0.38 - 0.02 0.46 0.18 0.03 0.02 0.03 unch 0.00 0.07 0.02 0.02 0.01 0.02 + 0.00 0.05 0.01 0.08 0.07 0.07 unch 0.00 0.20 0.05 0.07 0.05 0.07 + 0.02 0.15 0.04 0.00 0.00 0.00 + 0.00 0.00 0.00 0.20 0.18 0.18 - 0.01 0.49 0.15 0.15 0.13 0.14 - 0.01 0.37 0.12

B2Gold Corp T 16801 B2Gold Corp* X 38839 Balmoral Res* O 694 Balmoral Res T 1662 Balto Res V 55 Bam Bam Res C 0 Bankers Cobalt* O 5 V 338 Bankers Cobalt Bannerman Res* O 745 Banyan Gold V 1276 Banyan Gold* O 95 Bard Ventures V 9 O 13 Bard Ventures* Barksdale Cap* O 29 Barksdale Cap V 159 Barolo Venture V 21 Barolo Venture* O 0 V 2 Baroyeca Gold Barrick Gold* N 60824 Barrick Gold T 16277 Barsele Min* O 4 Barsele Min V 40 Batero Gold* O 99 Batero Gold V 216 O 28 Bayhorse Silvr* Bayhorse Silvr V 348 BC Moly * O 0 BCM Res V 70 BE Res V 93 BE Res* O 1 Bear Creek Mng* O 336 Bear Creek Mng V 621 Bearclaw Cap V 155 Bearing Lith* O 82 Bearing Lith V 328 Beauce Gold V 418 Bell Copper V 45 Bell Copper* O 16 Belmont Res V 293 817 Belo Sun Mng T Belo Sun Mng* O 2910 BeMetals * O 10 BeMetals V 309 Benchmark Met* O 224 V 1866 Benchmark Met Benton Res V 919 Benton Res* O 99 Benz Mining V 328 Benz Mining* O 21 Berkwood Res * O 300 Berkwood Res V 439 Bessor Min V 220 Bessor Min* O 0 Bird River Res C 427 Bitterroot Res* O 7 Bitterroot Res V 265 Black Hills* N 1479 Black Iron T 983 Black Iron* O 18 Black Mammoth V 10 Black Sea V 96 Black Sea * O 15 Black Tusk Res* O 45 Black Tusk Res C 910 Blackheath Res V 33 Blackrock Gold V 1768 Blackrock Gold* O 407 Blind Creek V 152 BLOX Inc* O 9 Blue Lagoon C 776 Blue Lagoon* O 2 Blue Moon Zinc V 256 Blue Moon Zinc* O 1 Blue River Res V 426 Blue River Res* O 1950 Blue Sky Uran* O 402 Blue Sky Uran V 594 Blue Star Gold V 178

5.30 4.94 5.17 + 0.15 5.36 3.24 4.07 3.76 3.96 + 0.08 4.07 2.40 0.34 0.27 0.29 - 0.02 0.39 0.07 0.43 0.36 0.38 - 0.02 0.49 0.10 0.14 0.14 0.14 - 0.01 0.19 0.06 0.00 0.00 0.07 unch 0.00 0.29 0.01 0.01 0.01 0.01 unch 0.00 0.03 0.00 0.01 0.01 0.01 unch 0.00 0.05 0.01 0.03 0.02 0.03 - 0.00 0.04 0.02 0.08 0.07 0.07 - 0.01 0.08 0.04 0.06 0.05 0.05 - 0.02 0.07 0.02 0.13 0.00 0.13 + 0.03 0.65 0.08 0.10 0.10 0.10 unch 0.00 0.19 0.06 0.29 0.25 0.25 - 0.02 0.57 0.23 0.36 0.34 0.35 - 0.03 0.75 0.32 0.19 0.00 0.19 unch 0.00 0.30 0.18 0.00 0.00 0.14 unch 0.00 0.14 0.01 0.05 0.05 0.05 + 0.01 0.20 0.04 19.01 17.46 17.85 - 0.72 20.07 11.52 24.68 22.88 23.29 - 0.82 26.69 15.37 0.42 0.38 0.42 + 0.04 0.55 0.29 0.54 0.48 0.48 - 0.05 0.75 0.36 0.05 0.05 0.05 + 0.00 0.07 0.04 0.08 0.07 0.08 + 0.02 0.10 0.05 0.10 0.00 0.09 - 0.01 0.14 0.04 0.12 0.10 0.11 - 0.01 0.20 0.07 0.00 0.00 0.03 unch 0.00 0.03 0.02 0.05 0.05 0.05 unch 0.00 0.14 0.04 0.05 0.04 0.05 + 0.01 0.07 0.02 0.03 0.03 0.03 unch 0.00 0.04 0.01 2.35 2.01 2.09 - 0.10 2.35 0.84 2.95 2.62 2.72 - 0.14 2.97 1.13 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.11 0.09 0.09 - 0.00 0.29 0.08 0.14 0.12 0.13 unch 0.00 0.38 0.11 0.20 0.14 0.14 - 0.01 0.29 0.07 0.07 0.07 0.07 + 0.01 0.15 0.03 0.06 0.05 0.06 + 0.00 0.12 0.03 0.04 0.03 0.04 + 0.01 0.40 0.03 0.55 0.49 0.51 - 0.01 0.72 0.22 0.44 0.37 0.40 unch 0.00 0.55 0.16 0.18 0.18 0.18 - 0.01 0.25 0.16 0.24 0.22 0.22 - 0.03 0.30 0.20 0.37 0.33 0.33 - 0.02 0.37 0.12 0.48 0.40 0.45 - 0.01 0.48 0.16 0.07 0.00 0.06 + 0.01 0.11 0.04 0.03 0.03 0.03 - 0.00 0.07 0.02 0.07 0.05 0.05 - 0.03 0.14 0.05 0.06 0.05 0.05 - 0.01 0.10 0.04 0.03 0.02 0.03 + 0.00 0.07 0.02 0.03 0.03 0.03 + 0.01 0.09 0.02 0.05 0.05 0.05 unch 0.00 0.20 0.03 0.00 0.00 0.02 unch 0.00 0.04 0.00 0.01 0.01 0.01 unch 0.00 0.05 0.01 0.02 0.02 0.02 - 0.01 0.07 0.01 0.04 0.03 0.03 unch 0.00 0.07 0.02 77.70 75.25 77.46 + 1.10 82.01 61.60 0.09 0.09 0.09 unch 0.00 0.16 0.05 0.07 0.06 0.06 - 0.01 0.12 0.03 0.04 0.04 0.04 unch 0.00 0.09 0.02 0.06 0.04 0.06 + 0.02 0.12 0.03 0.04 0.00 0.04 + 0.01 0.08 0.01 0.04 0.04 0.04 + 0.01 1.06 0.02 0.07 0.05 0.05 - 0.01 0.24 0.03 0.08 0.07 0.08 unch 0.00 0.20 0.05 0.21 0.16 0.18 - 0.04 0.36 0.03 0.18 0.12 0.14 - 0.03 0.27 0.02 0.05 0.04 0.05 + 0.01 0.06 0.03 0.27 0.13 0.27 + 0.01 0.30 0.03 2.08 1.86 2.08 + 0.25 2.08 0.26 1.36 0.00 1.36 unch 0.00 1.38 1.13 0.03 0.03 0.03 unch 0.00 0.08 0.02 0.02 0.00 0.02 - 0.00 0.06 0.01 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.08 0.07 0.08 + 0.00 0.18 0.06 0.11 0.10 0.10 unch 0.00 0.23 0.08 0.05 0.05 0.05 unch 0.00 0.07 0.02

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

BlueBird Batt* O 123 BlueBird Batt V 51 Bluestone Res V 213 Bluestone Res* O 161 Bold Ventures* O 5 Bold Ventures V 1627 Bonanza Gold* O 39991 BonTerra Res V 560 Boreal Metals V 98 Boreal Metals * O 39 Borneo Res Inv* O 23384 O 81 Boundary Gold* Boundary Gold V 112 Bravada Gold* O 174 Bravada Gold V 474 Braveheart Res* O 125 Braveheart Res V 330 Bravo Multinat* O 10 14219 Brazil Min* O BrightRock* O 89 Britannia Mng* O 361 Brixton Metals V 1589 Brixton Metals* O 631 Broadway Gold* O 20 Brookmount Exp* O 765 Bryn Res* O 53 BTU Metals* O 73 BTU Metals V 1850 Buenaventura* N 5481 Buffalo Coal V 285 Bullfrog Gold* O 1815 Bullfrog Gold C 941 Bunker Hill C 104 BWR Explor V 262

0.07 0.06 0.07 + 0.01 0.25 0.05 0.09 0.08 0.09 + 0.02 0.35 0.07 1.45 1.36 1.38 - 0.03 1.60 0.85 1.12 1.04 1.05 - 0.04 1.15 0.65 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.00 0.00 0.00 + 0.00 0.01 0.00 2.14 1.88 1.88 - 0.21 3.02 1.46 0.04 0.03 0.04 + 0.01 0.12 0.03 0.03 0.03 0.03 + 0.00 0.05 0.03 0.00 0.00 0.00 + 0.00 0.00 0.00 0.03 0.00 0.03 - 0.00 0.60 0.01 0.03 0.03 0.03 + 0.01 0.25 0.03 0.10 0.07 0.08 - 0.01 0.15 0.04 0.13 0.00 0.10 - 0.03 0.20 0.06 0.10 0.09 0.10 unch 0.00 0.14 0.07 0.14 0.13 0.13 unch 0.00 0.21 0.06 0.45 0.00 0.45 + 0.19 0.80 0.18 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 0.00 0.00 0.00 - 0.00 0.01 0.00 0.19 0.17 0.18 - 0.02 0.43 0.10 0.15 0.13 0.14 - 0.01 0.33 0.08 0.06 0.06 0.06 unch 0.00 0.13 0.00 0.01 0.00 0.00 - 0.00 0.02 0.00 0.05 0.00 0.03 - 0.03 0.10 0.03 0.25 0.22 0.24 - 0.01 0.35 0.19 0.34 0.30 0.32 - 0.01 0.49 0.07 14.95 13.87 13.97 - 0.72 17.85 13.77 0.01 0.01 0.01 unch 0.00 0.01 0.01 0.13 0.11 0.12 + 0.01 0.24 0.04 0.16 0.14 0.15 unch 0.00 0.23 0.12 0.78 0.00 0.70 + 0.15 2.00 0.05 0.05 0.04 0.05 + 0.01 0.06 0.03

Cabral Gold V 169 Cabral Gold* O 75 Cache Explor* O 78 Cache Explor V 1641 Cadence Min* O 7 Cadillac Vent* O 1 Cadillac Vent V 10 Caledonia Mng* X 59 Caledonia Mng T 20 Calibre Mng T 2084 Calibre Mng* O 209 California Gld* O 319 California Gld C 244 O 22 Callinex Mines* Callinex Mines V 68 Cameco Corp* N 13259 Cameco Corp T 3395 Cameo Cobalt* O 922 Cameo Cobalt V 1066 Camino Min* O 5 Camino Min V 157 Camrova Res* O 4 Canada Carbon V 337 Canada Carbon* O 151 Canada Cobalt * O 539 Canada Cobalt V 2488 Canada One V 46 Canada One* O 5 Canada Rare V 188 Canada Rare* O 202 Canadian Engy V 286 Canadian Metal C 15 Canadian Metal* O 6 Canadian Ore V 813 O 203 Canadian Ore* Canadian Prem V 95 O 2 Canadian Prem* CanAlaska Uran V 543 CanAlaska Uran* O 228 Canamex Gold* O 312 Canarc Res T 341 Canarc Res* O 424 Canasil Res V 667 Candelaria Mg V 38 Candente Coppr T 2144 Candente Gold* O 185 V 201 Candente Gold CANEX Metals * O 44 V 1235 CANEX Metals CaNickel Mng V 98 CaNickel Mng* O 2 Canoe Mng Vent V 170 Canstar Res V 139 Canstar Res* O 263 Canterra Mnls* O 4 Canterra Mnls V 10 Cantex Mn Dev* O 164 Cantex Mn Dev V 1605 Canuc Res V 242 Canuc Res* O 5 Capstone Mng T 3421 Cardero Res V 55 Cardero Res* O 10 Cardinal Res* O 211 Cardinal Res T 399 Cariboo Rose V 347 Carlin Gold V 372 Carrara Explor C 718 Cartier Iron C 152 Cartier Res V 980 Carube Copper V 275 Casa Minerals V 36 Cascadero Copp V 437 Cassius Vents V 95 Castle Peak Mg V 7997 Cautivo Mining C 212 CellCube Enrgy* O 514 Centamin T 167 Centaurus Diam* O 250 Centerra Gold T 2895 Central Tim Ex V 1114 Centurion Mnls V 178 Centurion Mnls* O 0 Century Cobalt* O 24 O 25 Century Global* Century Global T 272 Cerro de Pasc * O 69 Cerro de Pasc C 453 Cerro Grande C 12 Cerro Mng V 0 Ceylon Graph V 405 Chakana Copper V 500 Chakana Copper* O 236 Chalice Gold M* O 418 Champion Bear* O 69 Champion Bear V 47 Champion Iron* O 27 Champion Iron T 3307 Chatham Rock V 7 Chatham Rock* O 0 V 126 Chesapeake Gld Chesapeake Gld* O 117 Chevron Corp* N 38802 227 Chiboug Ind Mn V Chiboug Ind Mn* O 4 Chilean Metals V 59 Chilean Metals* O 10 China Gold Int T 315 Chinapintza Mg V 50 Clarmin Explor V 729 Clean Comm* O 217 Cleghorn Mnls V 121 Cleveland-Clif* N 51525 Cliffmont Res V 70 Clifton Mng* O 32 CMC Metals V 900 CMC Metals* O 1 CNRP Mng C 289 CNRP Mng* O 88 Cobalt Block V 65 Cobalt Block* O 73 Coeur Mng* N 47404 Colibri Res* O 173 Colibri Res V 224 Colombia Crest V 24 Colombia Crest* O 3 Colonial Coal V 686 Colorado Res V 346 Colorado Res* O 42 Colt Res* O 22

0.13 0.11 0.13 - 0.01 0.33 0.10 0.10 0.00 0.10 - 0.00 0.25 0.08 0.01 0.01 0.01 unch 0.00 0.05 0.00 0.01 0.01 0.01 + 0.01 0.07 0.01 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.02 0.02 0.02 unch 0.00 0.03 0.01 8.67 8.32 8.54 + 0.09 8.68 5.01 11.10 10.88 11.09 + 0.09 11.15 6.63 1.05 0.90 0.93 - 0.02 1.05 0.45 0.82 0.69 0.72 - 0.02 1.52 0.04 0.29 0.18 0.29 + 0.02 0.59 0.18 0.37 0.24 0.35 + 0.01 0.79 0.21 0.73 0.63 0.72 - 0.01 0.99 0.03 0.94 0.82 0.93 + 0.02 1.35 0.35 9.34 8.56 8.95 - 0.10 13.04 8.03 12.12 11.21 11.69 - 0.04 17.12 10.70 0.01 0.00 0.01 - 0.00 0.16 0.00 0.01 0.01 0.01 unch 0.00 0.15 0.01 0.07 0.00 0.07 - 0.01 0.14 0.03 0.09 0.08 0.09 - 0.01 0.18 0.05 0.01 0.00 0.01 + 0.00 0.06 0.00 0.10 0.08 0.09 unch 0.00 0.15 0.05 0.07 0.07 0.07 unch 0.00 0.11 0.00 0.55 0.43 0.53 + 0.01 0.55 0.18 0.71 0.57 0.69 + 0.03 0.71 0.25 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.02 0.00 0.02 + 0.01 0.03 0.01 0.07 0.05 0.05 - 0.01 0.11 0.04 0.05 0.03 0.04 - 0.00 0.08 0.02 0.05 0.04 0.04 - 0.01 0.18 0.02 0.07 0.00 0.07 - 0.04 0.70 0.06 0.15 0.15 0.15 + 0.00 0.51 0.15 0.11 0.10 0.11 + 0.01 0.45 0.07 0.09 0.07 0.08 - 0.01 0.34 0.06 0.57 0.47 0.51 + 0.02 1.63 0.42 0.39 0.39 0.39 unch 0.00 1.15 0.38 0.23 0.19 0.23 + 0.02 0.38 0.12 0.18 0.15 0.18 + 0.00 0.28 0.09 0.06 0.02 0.05 + 0.04 0.07 0.00 0.06 0.05 0.05 - 0.01 0.08 0.04 0.05 0.04 0.04 - 0.01 0.06 0.03 0.09 0.07 0.08 + 0.01 0.09 0.05 0.20 0.19 0.20 unch 0.00 0.42 0.11 0.03 0.03 0.03 - 0.01 0.08 0.03 0.02 0.01 0.01 - 0.01 0.03 0.01 0.03 0.02 0.02 unch 0.00 0.04 0.01 0.13 0.12 0.13 + 0.01 0.13 0.02 0.19 0.15 0.19 + 0.04 0.19 0.03 0.07 0.06 0.07 - 0.01 0.12 0.05 0.04 0.04 0.04 unch 0.00 0.09 0.04 0.16 0.14 0.16 + 0.01 0.26 0.08 0.05 0.04 0.04 - 0.01 0.20 0.02 0.02 0.02 0.02 unch 0.00 0.14 0.02 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.01 0.00 0.01 unch 0.00 0.03 0.01 0.84 0.57 0.66 - 0.23 5.23 0.57 1.08 0.73 0.84 - 0.31 6.99 0.71 0.05 0.04 0.05 - 0.01 0.10 0.03 0.04 0.04 0.04 - 0.01 0.07 0.02 0.86 0.72 0.77 + 0.01 0.86 0.41 0.02 0.02 0.02 unch 0.00 0.09 0.02 0.02 0.00 0.01 - 0.00 0.07 0.01 0.27 0.00 0.27 + 0.10 0.38 0.17 0.34 0.31 0.33 + 0.01 0.50 0.26 0.06 0.06 0.06 + 0.01 0.06 0.03 0.02 0.02 0.02 + 0.01 0.03 0.01 0.02 0.02 0.02 unch 0.00 0.08 0.01 0.04 0.00 0.04 - 0.01 0.10 0.03 0.16 0.15 0.15 - 0.01 0.22 0.11 0.05 0.05 0.05 unch 0.00 0.06 0.03 0.09 0.08 0.09 + 0.01 0.18 0.07 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.07 0.07 0.07 unch 0.00 0.09 0.06 0.02 0.02 0.02 + 0.01 0.02 0.01 0.13 0.11 0.13 + 0.04 0.20 0.09 0.05 0.04 0.04 - 0.01 0.15 0.02 2.18 2.05 2.12 + 0.01 2.53 1.39 0.10 0.04 0.06 - 0.02 1.00 0.04 10.55 9.92 10.19 - 0.04 13.00 5.64 0.03 0.02 0.03 unch 0.00 0.10 0.02 0.07 0.04 0.07 + 0.03 0.27 0.04 0.05 0.05 0.05 unch 0.00 0.08 0.05 0.03 0.01 0.02 + 0.00 0.18 0.00 0.07 0.00 0.12 + 0.05 0.17 0.07 0.09 0.07 0.07 unch 0.00 0.25 0.07 0.39 0.37 0.37 - 0.02 0.41 0.19 0.50 0.48 0.49 - 0.01 0.54 0.24 0.01 0.01 0.01 unch 0.00 0.01 0.01 0.00 0.00 0.10 unch 0.00 0.36 0.07 0.19 0.12 0.14 - 0.06 0.19 0.06 0.22 0.18 0.19 - 0.03 0.54 0.14 0.18 0.14 0.15 - 0.05 0.40 0.10 0.19 0.00 0.16 - 0.01 0.19 0.08 0.11 0.07 0.11 + 0.04 0.16 0.07 0.13 0.11 0.13 + 0.02 0.22 0.10 2.06 1.92 1.92 + 0.08 2.36 0.82 2.73 2.49 2.56 + 0.03 3.15 1.07 0.12 0.12 0.12 unch 0.00 0.19 0.07 0.00 0.00 0.09 unch 0.00 0.14 0.07 3.68 3.05 3.30 - 0.10 4.65 1.41 2.82 2.35 2.55 - 0.11 3.50 1.03 121.67 116.18 116.44 - 4.57 127.34 110.17 0.16 0.14 0.14 - 0.01 0.27 0.04 0.11 0.10 0.11 + 0.01 0.19 0.03 0.05 0.04 0.05 + 0.01 0.16 0.03 0.03 0.03 0.03 unch 0.00 0.06 0.01 1.25 1.09 1.13 - 0.09 1.93 0.88 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.09 0.09 0.09 + 0.01 0.17 0.08 0.17 0.03 0.17 + 0.12 0.17 0.01 0.06 0.03 0.04 + 0.01 0.11 0.03 8.15 7.56 7.60 - 0.22 12.26 6.59 0.10 0.10 0.10 unch 0.00 0.14 0.05 0.19 0.17 0.18 + 0.01 0.21 0.04 0.06 0.05 0.06 - 0.01 0.11 0.04 0.04 0.00 0.04 + 0.00 0.06 0.03 0.21 0.19 0.19 - 0.02 0.56 0.14 0.17 0.14 0.14 - 0.02 0.42 0.10 0.07 0.06 0.07 + 0.01 0.19 0.04 0.06 0.00 0.05 - 0.00 0.14 0.03 7.65 6.15 6.55 - 1.15 8.29 2.78 0.04 0.04 0.04 - 0.00 0.06 0.03 0.07 0.06 0.06 unch 0.00 0.08 0.04 0.28 0.00 0.28 unch 0.00 0.30 0.13 0.15 0.00 0.15 unch 0.00 0.21 0.05 0.37 0.32 0.35 - 0.03 0.65 0.21 0.06 0.06 0.06 + 0.01 0.13 0.04 0.05 0.03 0.05 - 0.00 0.10 0.03 0.00 0.00 0.00 unch 0.00 0.00 0.00

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

T 302 Columbus Gold O 533 Columbus Gold* Comet Inds V 6 V 2487 Commander Res O 126 Commander Res* O 7 Commerce Res* V 171 Commerce Res O 177 Compass Gold* V 994 Compass Gold O 2 Compliance Egy* X 3261 Comstock Mng* V 500 Comstock Mtls 10 Comstock Mtls * O Condor Gold* O 35 Condor Gold T 159 Condor Res V 160 Condor Res* O 51 O 24 Confedertn Ml* V 24 Confedertn Mls Conic Metals V 464 V 225 Conquest Res 20 Conquest Res * O V 316 Cons Woodjam CONSOL Coal Rs* N 292 N 2194 CONSOL Energy* CONSOL Energy* N 16666 O 17 Constantine Mt* V 146 Constantine Mt O 365 Contact Gold* Contact Gold V 1807 O 25 Contact Mnrls* 10577 Contintl Gold T O 128 Contintl Gold* Contintl Prec* O 1 208 Copper Fox Mtl V 16 Copper Fox Mtl* O 98 Copper Lake Rs V Copper Mtn Mng T 1049 65 Copper Mtn Mng* O 0 Copper North M* O 63 Copper North M V 0 Copper One * O Copper One C 1323 Copper Reef Mg C 147 O 489 Copperbank Res* C 548 Copperbank Res Coral Gold * O 105 Coral Gold V 205 V 627 Cordoba Mnls O 237 Cordoba Mnls* Core Gold* O 597 Core Gold V 4820 Core Lithium* O 1 V 12 Cornerstone Ca O 3 Cornerstone Ca* Coro Mining T 73 Corsa Coal V 308 41 Corsa Coal * O Corsurex Res C 350 Corvus Gold T 472 Corvus Gold* O 217 CR Capital V 76 C 253 Crestview Expl Critical Elem* O 30 Critical Elem V 5686 V 204 CROPS O 117 Crown Mining* Crown Mining V 389 Cruz Cobalt C 273 Cruz Cobalt* O 743 Crystal Lake* O 48 Crystal Lake V 1377 Crystal Peak V 67 Crystal Peak* O 113 O 0 CTGX Mining* 103 Currie Rose Rs V 20 Currie Rose Rs* O Cypress Dev* O 106 Cypress Dev V 683

0.11 0.18 0.15 0.17 - 0.01 0.27 0.08 unch 0.00 0.20 0.13 0.11 0.13 2.75 unch 0.00 3.60 3.40 3.40 3.40 0.06 0.08 0.06 0.06 - 0.02 0.11 0.05 0.06 0.05 0.05 - 0.01 0.08 0.07 0.17 0.00 0.17 + 0.02 0.68 0.14 0.22 0.00 0.21 - 0.01 0.90 0.17 0.46 0.39 0.45 - 0.03 0.50 0.11 0.61 0.49 0.59 - 0.01 0.71 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.15 0.74 0.46 0.56 + 0.10 1.39 0.02 unch 0.00 0.06 0.02 0.02 0.02 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.22 0.22 0.00 0.22 - 0.09 0.37 0.30 0.43 0.39 0.40 - 0.03 0.69 0.04 unch 0.00 0.08 0.06 0.00 0.06 0.03 0.06 0.06 0.06 + 0.03 0.06 0.09 unch 0.00 0.22 0.11 0.00 0.11 0.12 0.17 0.16 0.16 - 0.01 0.37 0.33 0.45 0.41 0.41 - 0.03 0.48 0.01 0.04 0.00 0.04 - 0.01 0.04 0.03 0.03 0.03 + 0.01 0.03 0.00 0.03 unch 0.00 0.09 0.04 0.04 0.04 10.82 10.00 10.10 + 0.05 19.47 8.05 11.46 14.65 11.46 11.56 - 2.92 38.74 8.62 7.54 7.81 - 0.73 13.63 6.14 0.13 0.19 0.18 0.19 + 0.02 0.57 0.17 unch 0.00 0.72 0.25 0.21 0.22 0.10 0.14 0.13 0.14 + 0.01 0.28 0.14 0.18 0.15 0.18 + 0.02 0.39 0.02 unch 0.00 0.30 0.06 0.06 0.06 1.76 5.46 5.35 5.43 + 0.07 5.46 1.33 4.19 4.07 4.15 + 0.04 4.19 0.00 unch 0.00 0.28 0.00 0.00 0.00 0.09 0.08 0.09 + 0.01 0.13 0.06 0.07 0.05 0.07 + 0.01 0.10 0.04 0.02 0.02 0.02 + 0.01 0.02 0.01 0.76 0.70 0.74 - 0.01 1.18 0.53 0.57 0.56 0.56 - 0.00 0.88 0.40 0.00 0.00 0.02 unch 0.00 0.05 0.01 0.04 0.00 0.03 unch 0.00 0.07 0.02 0.00 0.00 0.08 unch 0.00 0.10 0.08 0.05 0.12 0.10 0.10 - 0.01 0.18 0.46 0.34 0.34 - 0.07 0.46 0.15 0.02 unch 0.00 0.06 0.05 0.04 0.04 0.04 unch 0.00 0.08 0.06 0.05 0.05 0.36 0.34 0.36 + 0.02 0.39 0.26 0.35 unch 0.00 0.51 0.47 0.44 0.44 0.04 0.14 0.12 0.12 + 0.01 0.15 0.03 0.10 0.09 0.09 + 0.00 0.11 0.10 0.22 0.00 0.21 + 0.02 0.25 0.14 0.28 0.24 0.27 + 0.03 0.33 0.05 0.15 0.15 0.15 - 0.06 0.35 1.96 3.24 2.89 3.12 - 0.03 7.90 0.10 2.50 0.00 2.50 + 0.31 3.61 0.05 unch 0.00 0.12 0.07 0.07 0.07 0.25 0.33 0.29 0.33 + 0.05 0.94 0.25 0.24 0.25 + 0.02 0.67 0.18 0.02 0.05 0.04 0.04 + 0.01 0.08 1.55 2.15 1.90 1.96 - 0.17 2.71 1.13 1.66 1.41 1.52 - 0.13 2.04 0.04 0.06 0.05 0.05 + 0.01 0.08 0.40 1.09 0.70 1.04 + 0.39 1.09 0.20 0.32 0.27 0.30 + 0.01 0.59 0.26 0.45 0.34 0.39 + 0.01 0.78 0.01 0.02 0.00 0.02 + 0.01 0.05 0.02 0.03 0.00 0.02 - 0.00 0.08 0.03 unch 0.00 0.14 0.04 0.03 0.03 0.03 unch 0.00 0.05 0.04 0.04 0.04 0.01 0.03 0.02 0.03 - 0.00 0.05 0.07 0.11 0.10 0.11 + 0.00 0.32 0.10 unch 0.00 0.42 0.15 0.13 0.14 0.05 unch 0.00 0.21 0.06 0.06 0.06 0.04 0.05 0.00 0.04 - 0.01 0.16 0.00 unch 0.00 0.12 0.00 0.00 0.00 0.04 0.03 0.04 + 0.01 0.08 0.02 0.03 0.01 0.03 + 0.02 0.04 0.01 0.12 0.16 0.14 0.16 + 0.02 0.21 0.15 0.21 0.19 0.20 + 0.02 0.29

Dajin Res V 326 Dajin Res* O 445 78 Dakota Ter Res* O Damara Gold V 2 O 2 Damara Gold* Danakali* O 93 Debut Dmds C 13 Decade Res V 2576 Decade Res* O 142 V 1603 Deep-South Res C 500 DeepRock Min O 158 Defense Metals* V 333 Defense Metals Defiance Silvr V 1162 O 507 Defiance Silvr* Delrand Res V 37 96 Delrey Metals * O Delrey Metals C 199 T 1700 Denison Mines X 1557 Denison Mines* Desert Gold* O 250 Desert Gold V 136 61 Desert Mtn Egy V Detour Gold T 5802 O 1350 Diamante Min* Diamcor Mng V 389 O 200 Diamcor Mng* O 1199 Diamond Disc* O 10 Diamond Fields* V 35 Diamond Fields Dios Expl V 513 V 425 Discovery Harb O 674 Discovery Met* V 1285 Discovery Met 61849 O Discovery Min* V 256 Discovery-Corp District Cop V 510 District Cop* O 16 O 1 District Metal* District Metal V 0 Ditem Explor* O 6 O 1231 Diversified Rs* Dixie Gold V 1166 DNI Metals* O 7 O 78 Dolat Ventures* Dolly Vard Sil* O 840 878 Dolly Vard Sil V Dore Copper V 75 V 250 Doubleview Cap O 33 Doubleview Cap* DRDGOLD* N 1016 Dundee Prec Mt T 2544 O 170 Dunnedin Vent* Durango Res V 85 Durango Res* O 12 V 142 DV Resources O 3 DV Resources* Dynacor Gld Mn* O 142 262 Dynacor Gld Mn T O 0 Dynamic Gold* O 1 DynaResource* Dynasty Gold V 147 O 120 Dynasty Gold* E3 Metals V 445 E3 Metals* O 31 V 233 Eagle Graphite O 167 Eagle Graphite* Eagle Plains V 493 201 V East Africa 0 East Africa * O 5 East Asia Mnls* O 295 East Asia Mnls V EastCoal Inc V 256 O 28 Eastern Platin* Eastern Platin T 84 Eastern Zinc C 70 Eastfield Res V 12 Eastfield Res* O 15 Eastmain Res T 893 O 418 Eastmain Res* 6 Eco Oro Mnls* O 26 Eco Oro Mnls C O 3 Edgewater Expl* V 65 Edgewater Expl El Capitan Prc* O 1148

0.02 unch 0.00 0.07 0.03 0.02 0.03 0.01 0.02 0.01 0.02 + 0.00 0.06 0.09 0.07 0.09 - 0.01 0.19 0.02 0.03 unch 0.00 0.05 0.03 0.00 0.03 0.00 unch 0.00 0.02 0.00 0.00 0.00 0.40 0.43 0.40 0.41 + 0.00 0.59 0.08 0.11 0.00 0.09 - 0.07 0.25 0.01 0.05 0.03 0.04 - 0.01 0.05 0.01 0.04 0.03 0.03 + 0.02 0.04 0.04 0.06 0.05 0.05 + 0.01 0.15 0.02 unch 0.00 0.10 0.03 0.03 0.03 0.06 0.14 0.11 0.12 - 0.02 0.25 0.06 0.17 0.15 0.15 - 0.03 0.24 0.16 0.25 0.22 0.23 - 0.01 0.37 0.12 0.19 0.16 0.17 - 0.01 0.32 0.29 0.61 0.56 0.59 - 0.03 0.71 0.02 0.01 0.02 - 0.00 0.30 0.01 0.02 unch 0.00 0.29 0.03 0.03 0.03 0.51 unch 0.00 0.78 0.54 0.51 0.53 0.38 0.42 0.40 0.41 + 0.00 0.59 0.07 unch 0.00 0.31 0.12 0.12 0.12 0.10 0.15 0.13 0.15 + 0.01 0.26 0.25 0.22 0.23 - 0.01 0.31 0.13 11.22 26.14 24.56 25.68 + 0.83 26.14 0.01 0.02 0.01 0.02 + 0.00 0.10 0.08 0.15 0.11 0.14 + 0.03 0.29 0.06 0.11 0.07 0.11 + 0.02 0.21 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.16 0.11 0.16 + 0.05 0.16 0.08 0.25 0.12 0.25 + 0.07 0.25 0.03 0.06 0.05 0.05 - 0.01 0.08 0.01 0.18 0.15 0.16 - 0.01 0.18 0.13 0.53 0.41 0.45 - 0.07 0.56 0.18 0.67 0.54 0.59 - 0.06 0.74 0.00 0.00 0.00 0.00 - 0.00 0.00 0.01 0.00 0.02 unch 0.01 0.01 0.01 0.01 unch 0.00 0.05 0.01 0.01 0.01 0.00 0.01 0.01 0.01 - 0.00 0.03 0.08 0.12 0.08 0.08 - 0.04 0.12 0.08 unch 0.00 0.31 0.00 0.00 0.11 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.00 0.00 0.08 0.23 0.05 0.22 + 0.02 0.24 0.01 0.03 0.01 0.03 - 0.00 0.09 0.05 unch 0.00 1.80 0.08 0.00 0.07 0.24 0.20 0.21 - 0.03 0.38 0.14 0.32 0.26 0.28 - 0.04 0.50 0.19 1.08 unch 0.00 1.65 1.41 1.25 1.35 0.08 unch 0.00 0.18 0.11 0.08 0.10 0.06 0.08 0.06 0.06 - 0.02 0.13 1.64 6.09 5.38 6.06 + 0.57 6.09 5.77 5.15 5.76 + 0.46 6.66 3.44 0.04 0.10 0.06 0.07 - 0.02 0.10 0.04 0.06 0.06 0.06 - 0.01 0.10 0.03 unch 0.00 0.07 0.05 0.05 0.05 0.04 0.08 0.00 0.08 + 0.02 0.12 0.04 0.07 0.07 0.07 + 0.00 0.07 1.29 1.20 1.21 + 0.01 1.60 1.10 1.69 1.57 1.61 + 0.02 2.00 1.50 1.00 unch 0.00 5.00 0.00 0.00 3.00 0.24 0.78 0.76 0.76 + 0.26 1.22 0.06 0.08 0.07 0.07 - 0.01 0.16 0.04 0.05 0.00 0.05 - 0.00 0.11 0.23 0.44 0.36 0.40 + 0.04 0.60 0.22 0.33 0.29 0.32 + 0.04 0.41 0.03 unch 0.00 0.10 0.05 0.05 0.05 0.02 0.04 0.04 0.04 + 0.01 0.07 0.08 0.12 0.10 0.10 - 0.02 0.12 0.16 0.14 0.15 + 0.01 0.26 0.12 0.00 0.00 0.10 unch 0.00 0.19 0.09 0.05 0.04 0.05 + 0.01 0.09 0.02 0.06 0.06 0.06 unch 0.00 0.13 0.03 0.05 unch 0.00 0.10 0.09 0.00 0.09 0.13 0.27 0.00 0.24 - 0.00 0.27 0.18 0.35 0.29 0.32 + 0.01 0.35 0.02 0.03 0.03 0.03 + 0.01 0.20 0.03 0.04 0.00 0.04 - 0.01 0.07 0.02 unch 0.00 0.05 0.03 0.02 0.02 0.09 0.11 0.10 0.10 - 0.01 0.22 0.06 0.09 0.07 0.08 - 0.01 0.16 0.06 0.03 0.06 + 0.03 0.17 0.02 0.07 0.07 0.07 unch 0.00 0.27 0.03 0.06 unch 0.00 0.09 0.08 0.08 0.08 0.06 0.15 0.11 0.11 - 0.04 0.15 0.01 0.01 0.01 - 0.00 0.04 0.01

D-F

2020-01-13 4:47 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / JANUARY 20â&#x20AC;&#x201C;FEBRUARY 2, 2020

Week

12-month

Exc Volume High Low Last Change High Low

El Nino Vent V 35 0.03 0.03 0.03 + 0.01 0.04 0.02 Elcora Adv Mat V 443 0.04 0.03 0.03 - 0.01 0.12 0.03 Elcora Res* O 245 0.03 0.02 0.02 + 0.00 0.09 0.01 Eldorado Gold* N 10755 8.29 7.38 7.52 - 0.48 10.09 2.52 Eldorado Gold T 3725 10.77 9.67 9.83 - 0.58 13.34 3.36 Electra Stone* O 0 0.00 0.00 0.01 unch 0.00 Eloro Res* O 381 0.27 0.18 0.27 + 0.09 0.32 0.13 Eloro Res V 462 0.38 0.23 0.38 + 0.15 0.45 0.15 Ely Gold Royal V 1184 0.45 0.41 0.45 + 0.01 0.47 0.13 Ely Gold Royal* O 1250 0.35 0.31 0.34 + 0.00 0.37 0.09 Elysee Dev * O 70 0.27 0.26 0.27 unch 0.00 0.33 0.25 Elysee Dev V 60 0.36 0.35 0.36 + 0.01 0.42 0.33 Emerita Res V 184 0.09 0.00 0.09 + 0.01 0.17 0.05 Emgold Mining* O 3 0.05 0.05 0.05 unch 0.00 0.14 0.03 Emgold Mining V 341 0.08 0.07 0.08 - 0.01 0.20 0.05 Empress Res* O 140 0.02 0.01 0.02 + 0.01 0.02 0.01 Empress Res V 414 0.03 0.03 0.03 unch 0.00 0.10 0.02 EMX Royalty V 198 2.22 1.96 2.12 + 0.04 2.24 1.43 EMX Royalty* X 743 1.71 1.56 1.63 + 0.00 1.72 1.08 Encanto Potash* O 111 0.06 0.05 0.05 + 0.01 0.13 0.03 Encanto Potash V 243 0.07 0.06 0.07 + 0.01 0.18 0.05 EnCore Energy V 2469 0.17 0.14 0.16 - 0.02 0.22 0.09 Endeavour Mng T 1339 25.50 22.43 24.07 - 0.65 28.98 17.24 O 80 19.59 17.87 18.36 - 0.59 21.78 13.34 Endeavour Mng* Endeavr Silver* N 13369 2.42 2.09 2.15 - 0.22 3.20 1.68 Endeavr Silver T 1199 3.15 2.73 2.82 - 0.26 4.26 2.21 Endurance Gold V 35 0.05 0.05 0.05 + 0.01 0.07 0.03 1.50 Energy Fuels* X 4646 1.96 1.71 1.71 - 0.19 3.73 Energy Fuels T 688 2.54 2.24 2.24 - 0.23 4.97 2.00 Engineer Gold V 189 0.08 0.07 0.07 + 0.01 0.14 0.05 unch 0.00 0.20 0.06 Engold Mines V 581 0.06 0.06 0.06 Engold Mines* O 2578 0.00 0.00 0.04 unch 0.00 0.09 0.04 Ensurge* O 10 0.05 0.05 0.05 unch 0.00 0.06 0.01 0.05 Entree Res* O 237 0.31 0.28 0.28 - 0.01 0.46 Entree Res T 258 0.40 0.38 0.38 - 0.01 0.61 0.22 V 3495 0.40 0.30 0.39 + 0.09 0.62 0.27 ePower Metals ePower Metals* O 245 0.31 0.23 0.31 + 0.09 0.37 0.04 Equinox Gold T 2499 10.40 9.61 10.40 + 0.70 10.34 4.90 X 1530 7.97 7.31 7.95 + 0.45 8.00 5.20 Equinox Gold* Equitorial Ex V 1436 0.02 0.02 0.02 + 0.01 0.06 0.01 Equity Metals* O 0 0.06 0.06 0.06 unch 0.00 0.09 0.04 Equity Metals V 163 0.11 0.09 0.09 - 0.01 0.12 0.05 Erdene Res Dev T 302 0.19 0.18 0.18 unch 0.00 0.26 0.16 Erdene Res Dev* O 138 0.14 0.13 0.14 - 0.00 0.19 0.12 Erin Ventures* O 34 0.04 0.03 0.04 + 0.01 0.11 0.02 0.04 Erin Ventures V 606 0.07 0.06 0.06 - 0.01 0.16 Ero Copper T 634 22.42 21.04 21.58 - 0.92 25.69 10.43 Ero Copper* O 8 16.75 16.52 16.52 - 1.69 19.20 7.92 Eros Res Corp* O 66 0.07 0.04 0.07 + 0.03 0.07 0.03 Eros Res Corp V 759 0.09 0.06 0.09 + 0.02 0.11 0.05 759 0.09 0.06 0.09 + 0.02 0.11 0.05 Eros Res Corp V Eskay Mng* O 22 0.19 0.00 0.17 - 0.02 0.20 0.04 0.07 Eskay Mng V 420 0.24 0.20 0.23 + 0.01 0.25 Essex Minerals V 213 0.04 0.02 0.03 + 0.01 0.07 0.02 Ethos Gold* O 143 0.15 0.12 0.13 - 0.00 0.25 0.09 0.13 Ethos Gold V 44 0.20 0.17 0.17 - 0.01 0.34 Euro Manganese V 99 0.15 0.14 0.15 + 0.02 0.44 0.11 Euro Sun Mg* O 632 0.29 0.20 0.27 + 0.06 0.83 0.12 Euro Sun Mg T 2057 0.36 0.30 0.33 + 0.03 1.10 0.22 EurOmax Res* O 16 0.03 0.02 0.02 - 0.00 0.14 0.02 unch 0.00 0.17 0.02 EurOmax Res T 50 0.03 0.03 0.03 European Elect* O 142 0.02 0.01 0.02 + 0.00 0.14 0.00 V 103 0.02 0.02 0.02 + 0.01 0.19 0.01 European Elect O 1 0.03 0.03 0.03 unch 0.00 0.26 0.00 European Metal* Eurotin V 1247 0.02 0.01 0.02 + 0.02 0.10 0.01 Evergold V 620 0.35 0.28 0.29 - 0.01 0.35 0.17 Evergold* O 16 0.22 0.22 0.22 + 0.01 0.22 0.15 EVI Global Grp C 1406 0.26 0.14 0.18 - 0.07 1.64 0.14 0.01 Evolving Gold C 5 0.02 0.00 0.02 + 0.01 0.07 Evolving Gold* O 5 0.01 0.00 0.01 unch 0.00 0.06 0.00 Evrim Res V 203 0.34 0.30 0.31 - 0.02 0.40 0.27 Excellon Res* O 235 0.82 0.70 0.75 - 0.03 1.15 0.50 Excellon Res T 550 1.06 0.92 1.00 - 0.03 1.51 0.68 Excelsior Mng* O 574 0.88 0.72 0.88 + 0.08 0.87 0.59 T 1140 1.15 0.94 1.15 + 0.12 1.14 0.78 Excelsior Mng ExGen Res Inc V 500 0.01 0.01 0.01 unch 0.00 0.03 0.01 Explor Res* O 37 0.03 0.02 0.03 unch 0.00 0.03 0.01 unch 0.00 0.04 0.02 Explor Res V 87 0.03 0.03 0.03 Fabled Copper V 500 0.04 0.04 0.04 unch 0.00 0.08 0.02 Falco Res V 815 0.35 0.28 0.29 - 0.05 0.43 0.19 87 0.24 0.22 0.23 - 0.03 0.31 0.10 Falco Res * O Falcon Gold V 764 0.04 0.04 0.04 unch 0.00 0.06 0.02 Fancamp Expl V 887 0.07 0.06 0.06 - 0.01 0.11 0.05 0.02 Far Res* O 105 0.04 0.03 0.04 + 0.00 0.13 Far Res C 2671 0.05 0.04 0.05 + 0.01 0.18 0.03 unch 0.00 0.30 0.15 Fidelity Min* O 0 0.00 0.00 0.04 Fidelity Min V 52 0.05 0.05 0.05 + 0.01 0.50 0.03 Filo Mg Corp V 73 2.02 1.95 2.00 unch 0.00 3.25 1.80 Filo Mg Corp * O 0 0.00 0.00 1.52 unch 0.00 2.31 1.52 Finlay Minrls V 40 0.05 0.00 0.05 unch 0.00 0.07 0.03 Fiore Gold* O 745 0.46 0.40 0.44 + 0.00 0.50 0.18 Fiore Gold V 780 0.59 0.52 0.57 + 0.02 0.63 0.26 0 0.00 0.00 0.01 unch 0.00 0.40 0.00 Fire River Gol* O Firebird Res V 58 0.02 0.02 0.02 - 0.01 0.04 0.01 FireFox Gold V 231 0.17 0.09 0.10 - 0.01 0.39 0.07 Firestone Vent V 31 0.05 0.04 0.05 + 0.01 0.10 0.04 Fireweed Zinc V 253 0.70 0.63 0.70 + 0.01 0.97 0.45 Fireweed Zinc* O 10 0.52 0.00 0.50 - 0.01 0.71 0.34 O 620 0.01 0.00 0.00 - 0.00 0.05 0.00 Firma Holdings* First Cobalt * O 945 0.13 0.11 0.12 + 0.01 0.18 0.08 First Cobalt V 1328 0.16 0.15 0.16 + 0.01 0.25 0.12 First Colombia* O 8013 0.00 0.00 0.00 + 0.00 0.00 0.00 unch 0.00 0.20 0.04 First Energy C 4 0.07 0.00 0.07 First Energy* O 2 0.04 0.03 0.04 + 0.01 0.16 0.02 First Majestic* N 26339 12.26 10.84 11.01 - 0.96 12.69 5.01 First Majestic T 5070 15.95 14.17 14.39 - 1.16 16.50 6.67 First Mexican* O 298 0.03 0.03 0.03 unch 0.00 0.04 0.01 First Mexican V 205 0.05 0.04 0.05 + 0.01 0.25 0.04 First Mg Fin T 2741 0.27 0.25 0.26 - 0.01 0.41 0.21 First Mg Fin * O 2026 0.21 0.19 0.20 - 0.01 0.30 0.16 First Point* O 46 0.13 0.00 0.12 + 0.01 0.14 0.08 First Quantum T 15449 13.17 11.85 12.64 + 0.21 16.63 7.84 First Vanadium V 134 0.30 0.25 0.27 + 0.02 1.08 0.17 First Vanadium* O 280 0.23 0.19 0.21 + 0.02 0.81 0.12 Fission 3.0 V 176 0.07 0.06 0.06 unch 0.00 0.22 0.05 Fission 3.0* O 37 0.05 0.04 0.04 - 0.01 0.16 0.03 Fission Uran* O 901 0.23 0.21 0.22 + 0.00 0.46 0.19 Fission Uran T 1874 0.31 0.28 0.29 + 0.01 0.59 0.25 Five Star Diam V 60 0.05 0.04 0.04 - 0.01 0.08 0.03 Five Star Diam* O 20 0.04 0.03 0.03 unch 0.00 0.04 0.02 Fjordland Exp* O 28 0.04 0.03 0.03 - 0.00 0.07 0.02 Fjordland Exp V 365 0.05 0.04 0.04 unch 0.00 0.10 0.03 O 267 0.02 0.01 0.01 - 0.00 0.03 0.01 Focus Graphite* Focus Graphite V 1805 0.02 0.02 0.02 unch 0.00 0.04 0.01 Foran Mng V 25 0.29 0.27 0.29 unch 0.00 0.35 0.22 Forsys Metals T 197 0.15 0.12 0.12 - 0.02 0.29 0.11 6 0.10 0.00 0.10 + 0.01 0.31 0.08 Fort St J Nick V Fortescue Met* O 27 7.40 7.20 7.26 - 0.18 7.64 3.18 Fortuna Silvr T 2602 5.48 4.76 4.97 - 0.27 6.12 3.22 Fortuna Silvr* N 15699 4.23 3.64 3.80 - 0.23 4.59 2.39 unch 0.00 0.50 0.19 Fortune Bay V 31 0.40 0.00 0.40 Fortune Bay* O 10 0.31 0.00 0.30 - 0.08 0.39 0.14 O 839 0.07 0.06 0.06 - 0.01 0.11 0.05 Fortune Mnrls* Fortune Mnrls T 596 0.08 0.08 0.08 unch 0.00 0.16 0.07 Forum Energy V 1053 0.08 0.07 0.08 - 0.01 0.11 0.03 Forum Energy* O 421 0.07 0.06 0.07 - 0.00 0.08 0.02 Fox River Res* O 6 0.05 0.00 0.05 unch 0.00 0.06 0.03 Fox River Res C 32 0.09 0.07 0.07 - 0.01 0.10 0.04 FPX Nickel V 544 0.18 0.14 0.16 + 0.01 0.18 0.10 Franco-Nevada* N 2481 105.24 99.66 102.41 - 0.82 105.87 68.19 Franco-Nevada T 2234 136.65 130.28 133.78 - 0.34 137.43 90.50 Franklin Mng* O 4 0.00 0.00 0.00 + 0.00 0.00 0.00 Freegold Vent T 361 0.06 0.05 0.05 - 0.02 0.12 0.04 Freeport McMoR* N 86219 13.31 12.53 12.90 + 0.10 14.68 8.43 Freeport Res V 1294 0.06 0.06 0.06 unch 0.00 0.15 0.04 Fremont Gold V 355 0.08 0.07 0.07 unch 0.00 0.19 0.04 Fremont Gold* O 0 0.06 0.00 0.06 - 0.00 0.15 0.04 Fresnillo plc* O 142 8.95 8.10 8.25 - 0.40 13.76 6.89 0.20 Frontier Lith V 170 0.30 0.28 0.29 + 0.01 0.47 Frontline Gold V 1892 0.01 0.00 0.01 - 0.01 0.02 0.01 Full Metal Mnl* O 0 0.00 0.00 0.00 unch 0.00 0.01 0.00 Fura Gems V 60 0.20 0.17 0.20 + 0.03 0.46 0.12 Fura Gems* O 6 0.14 0.13 0.14 + 0.01 0.34 0.09

G-H G2 Goldfields* O 5 G2 Goldfields V 562 Gabriel Res V 182 Gabriel Res* O 167 Gaia Metals* O 1 Gaia Metals V 106 V 657 Gainey Capital Galane Gold V 259 Galane Gold * O 544 Galantas Gold V 377 Galantas Gold* O 13 Galleon Gold* O 278 Galore Res V 148 Galway Gold * O 5 Galway Gold V 162 Galway Mtls* O 269 Galway Mtls V 347

12-15_JAN20_StockTables.indd 13

0.14 0.14 0.14 unch 0.00 0.26 0.08 0.22 0.20 0.20 - 0.03 0.43 0.19 0.46 0.43 0.46 - 0.01 0.71 0.35 0.37 0.32 0.34 - 0.01 0.54 0.26 0.07 0.06 0.06 - 0.01 0.66 0.06 0.10 0.00 0.10 + 0.01 0.90 0.08 0.09 0.07 0.08 - 0.01 0.16 0.04 0.12 0.09 0.10 - 0.01 0.13 0.04 0.09 0.07 0.07 - 0.01 0.10 0.03 0.03 0.02 0.02 - 0.01 0.15 0.02 0.01 0.01 0.01 unch 0.00 0.07 0.01 0.07 0.05 0.07 - 0.00 0.08 0.01 0.02 0.01 0.02 unch 0.00 0.05 0.01 0.07 0.07 0.07 unch 0.00 0.10 0.00 0.10 0.10 0.10 - 0.01 0.15 0.07 0.27 0.25 0.25 - 0.02 0.30 0.12 0.37 0.32 0.33 - 0.03 0.44 0.17

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Garibaldi Res V 399 Garibaldi Res * O 64 Gatling Explor V 801 O 119 Gatling Explor* Gem Intl Res V 305 General Moly T 6 General Moly* X 1128 Generation Min* O 338 Generation Min C 12220 Genesis Mtls* O 135 Genesis Mtls V 2672 Genius Metals C 29 Gensource Pot V 304 Geomega Res V 1097 Geomega Res* O 13 Gespeg Res V 93 Getchell Gold * O 30 Getchell Gold C 260 Getty Copper V 194 GFG Resources V 1585 GFG Resources* O 1037 GGL Res* O 2 GGL Res V 3 GGX Gold V 611 GGX Gold* O 88 Giga Metals* O 159 Giga Metals V 329 Gitennes Expl V 108 Giyani Gold* O 15 Giyani Gold V 89 Glacier Lake V 60 O 421 Gldn Predator* Gldn Predator V 1524 Glen Eagle Res V 119 Glen Eagle Res* O 74 Glencore Plc * O 159 Glencore Plc* O 1674 O 43 Global Atomic* Global Atomic T 292 V 289 Global Battery Global Battery* O 1 Global Energy V 170 O 4 Global Energy* Global Gold* O 0 Global Li-Ion C 29 Global Li-Ion* O 100 GlobalMin Vent* O 1 Globex Mng* O 38 Globex Mng T 92 O 23 GMV Minerals* GMV Minerals V 97 GNCC Capital* O 8141 Go Cobalt C 48 GobiMin V 75 GoGold Res T 1056 Gold Fields* O 1 Gold Fields* N 27963 Gold Finder Ex V 841 Gold Finder Ex* O 40 Gold Lion Res C 436 Gold Reserve V 11 O 84 Gold Reserve* Gold Resource* X 3380 Gold Rush Cari V 297 547 Gold Std Vents T Gold Std Vents* X 3046 Gold X Mining V 297 V 45 Goldbank Mng Goldcliff Res* O 161 Goldcliff Res V 362 O 368 Golden Arrow* Golden Arrow V 850 Golden Band* O 545 Golden Cariboo V 450 Golden Dawn Ml V 225 26 Golden Dawn Ml* O Golden Goliath V 803 Golden Goliath* O 116 Golden Harp* O 4 Golden Harp V 2 Golden Hope V 229 Golden Hope* O 29 Golden Lake C 80 Golden Mnls* X 1554 Golden Mnls T 55 89 Golden Opp Res C Golden Pursuit V 50 Golden Queen* O 20 Golden Queen V 26 Golden Ridge V 353 V 85 Golden Secret Golden Share V 6 Golden Star* X 1739 Golden Star T 193 Golden Star* O 0 Golden Tag V 292 Golden Valley* O 132 Golden Valley V 284 Goldex Res* O 1 Goldex Res V 63 T 275 Goldgroup Mng Goldgroup Mng* O 127 GoldMining* O 2291 GoldMining T 2202 GoldON Res V 132 GoldON Res* O 14 Goldplay Expl* O 137 Goldplay Expl V 720 GoldQuest Mng V 238 Goldrea Res C 88 Goldrea Res* O 41 Goldrich Mng* O 1264 Goldsource Min* O 288 Goldsource Min V 1288 Goldstar Mnls V 199 Goldstrike Res V 2053 Goliath Res V 3020 Goliath Res* O 278 Gossan Res V 96 GoviEx Uranium* O 338 GoviEx Uranium V 694 Gowest Gold* O 85 Gowest Gold V 109 GPM Metals* O 3 GPM Metals V 385 Gran Colombia* O 127 Gran Colombia T 1095 Granada Gold V 5719 Granada Gold* O 557 Grande Portage V 212 Grande Portage* O 1 Granite Creek V 413 Graphite Egy* O 17 Graphite One* O 50 Graphite One V 50 Gratomic V 322 48 Gray Rock Res V Great Atlantic V 117 Great Bear Res V 531 Great Bear Res* O 192 Great Lakes Gr* O 19 Great Panther T 986 X 6451 Great Panther* Great Thunder V 102 Greatbanks Re V 10 Green River C 300 Green Valley M V 35 V 120 Greencastle Rs Greenland M&En* O 1063 V 13 Greenshield Ex Grenville Gold C 30 Grid Metals* O 289 Grid Metals V 267 Grizzly Discvr* O 275 Grizzly Discvr V 220 Grosvenor Res V 5 Group Eleven V 176 Group Ten Mtls* O 584 Group Ten Mtls V 447 GrowMax Res* O 41 GSP Resource V 172 GT Gold V 482 GT Gold * O 100 Guerrero Vents* O 0 Guerrero Vents V 120 Gungnir Res V 136 Gungnir Res* O 66 Gunpoint Expl V 15 Guyana Gldflds T 2989 Guyana Goldstr V 1694 Guyana Goldstr* O 138 Handa Mining V 0 Handeni Gold* O 55

0.93 0.84 0.86 - 0.04 2.25 0.69 0.69 0.64 0.66 - 0.04 1.70 0.51 0.55 0.43 0.47 - 0.04 0.71 0.29 0.39 0.33 0.36 - 0.03 0.54 0.21 0.06 0.06 0.06 - 0.01 0.08 0.05 0.33 0.29 0.29 - 0.04 0.59 0.22 0.26 0.22 0.23 - 0.02 0.45 0.16 0.35 0.27 0.34 + 0.08 0.35 0.04 0.46 0.34 0.45 + 0.12 0.46 0.10 0.34 0.25 0.33 + 0.07 0.37 0.14 0.49 0.32 0.43 + 0.09 0.53 0.23 0.22 0.20 0.20 - 0.02 0.24 0.14 0.14 0.11 0.11 - 0.02 0.16 0.08 0.17 0.14 0.16 - 0.01 0.23 0.07 0.13 0.12 0.12 + 0.00 0.17 0.06 0.09 0.01 0.09 + 0.01 0.25 0.03 0.11 0.09 0.11 + 0.02 0.19 0.05 0.15 0.14 0.14 + 0.02 0.45 0.06 0.04 0.03 0.03 - 0.01 0.04 0.02 0.38 0.29 0.31 - 0.06 0.44 0.16 0.29 0.22 0.24 - 0.05 0.32 0.12 0.06 0.05 0.05 - 0.01 0.10 0.05 0.08 0.07 0.08 unch 0.00 0.17 0.07 0.10 0.08 0.09 - 0.02 0.41 0.07 0.07 0.06 0.06 - 0.00 0.29 0.04 0.29 0.23 0.24 - 0.01 0.40 0.11 0.35 0.30 0.31 - 0.04 0.53 0.15 0.02 0.01 0.01 - 0.01 0.06 0.01 0.15 0.14 0.14 - 0.02 0.26 0.06 0.17 0.00 0.17 unch 0.00 0.35 0.07 0.15 0.14 0.15 unch 0.00 0.30 0.05 0.32 0.24 0.26 - 0.04 0.38 0.13 0.40 0.32 0.34 - 0.06 0.50 0.18 0.10 0.07 0.10 + 0.02 0.15 0.07 0.07 0.05 0.07 + 0.01 0.10 0.05 3.18 3.08 3.17 + 0.04 4.49 2.66 6.27 6.13 6.22 - 0.01 8.91 5.29 0.39 0.00 0.37 - 0.01 0.42 0.25 0.50 0.48 0.49 - 0.01 0.56 0.30 0.09 0.07 0.07 - 0.02 0.23 0.05 0.05 0.05 0.05 unch 0.00 0.16 0.05 0.02 0.02 0.02 unch 0.00 0.10 0.02 0.01 0.01 0.01 + 0.00 0.07 0.01 0.00 0.00 0.75 unch 0.00 1.60 0.75 0.08 0.00 0.08 + 0.02 0.28 0.06 0.08 0.08 0.08 + 0.04 0.21 0.04 0.16 0.16 0.16 - 0.42 0.85 0.10 0.27 0.25 0.25 - 0.01 0.31 0.21 0.36 0.33 0.34 unch 0.00 0.41 0.28 0.12 0.12 0.12 + 0.00 0.17 0.06 0.15 0.14 0.15 unch 0.00 0.25 0.09 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.06 0.06 0.06 - 0.01 0.23 0.04 0.25 0.25 0.25 + 0.03 0.45 0.21 0.71 0.63 0.66 + 0.03 0.80 0.24 6.09 6.09 6.09 unch 0.00 6.09 3.55 6.78 6.08 6.17 - 0.37 6.83 3.48 0.04 0.00 0.04 + 0.01 0.12 0.02 0.02 0.00 0.02 + 0.00 0.09 0.02 0.29 0.25 0.28 + 0.03 0.29 0.17 2.21 1.96 2.20 + 0.21 3.67 1.82 1.72 1.51 1.60 + 0.08 2.75 1.05 5.60 5.05 5.19 - 0.23 5.84 2.73 0.02 0.01 0.01 - 0.01 0.15 0.01 1.11 0.97 1.04 - 0.05 1.81 0.78 0.88 0.75 0.78 - 0.06 1.38 0.59 2.55 2.19 2.30 - 0.18 3.56 1.20 0.17 0.14 0.14 - 0.04 0.19 0.10 0.11 0.09 0.10 - 0.00 0.13 0.04 0.17 0.12 0.14 - 0.01 0.17 0.05 0.15 0.12 0.13 - 0.02 0.28 0.08 0.21 0.17 0.17 - 0.03 0.37 0.12 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.04 0.03 0.04 + 0.02 0.06 0.02 0.16 0.11 0.12 - 0.02 0.38 0.08 0.09 0.09 0.09 - 0.00 0.28 0.03 0.09 0.07 0.08 - 0.01 0.10 0.02 0.07 0.00 0.05 - 0.02 0.08 0.00 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.00 0.00 0.07 unch 0.00 0.17 0.04 0.23 0.19 0.23 + 0.04 0.28 0.05 0.18 0.16 0.17 + 0.02 0.18 0.03 0.19 0.15 0.16 - 0.03 0.20 0.08 0.35 0.30 0.32 + 0.01 0.38 0.20 0.44 0.36 0.42 + 0.01 0.49 0.26 0.15 0.13 0.14 + 0.01 0.15 0.10 0.05 0.05 0.05 unch 0.00 0.11 0.02 0.15 0.14 0.15 + 0.01 0.29 0.01 0.25 0.00 0.25 + 0.06 0.60 0.17 0.06 0.05 0.06 - 0.01 0.20 0.02 1.42 1.26 1.26 - 0.13 2.53 0.96 0.10 0.00 0.10 unch 0.00 0.16 0.07 3.66 3.30 3.34 - 0.26 4.97 2.51 4.74 4.31 4.35 - 0.31 6.48 3.36 0.00 0.00 0.60 unch 0.00 1.05 0.60 0.09 0.08 0.08 - 0.01 0.10 0.03 0.44 0.38 0.38 - 0.06 0.44 0.19 0.55 0.49 0.49 - 0.06 0.56 0.25 0.06 0.00 0.06 unch 0.00 0.15 0.05 0.11 0.10 0.10 - 0.02 0.21 0.07 0.03 0.02 0.02 unch 0.00 0.08 0.02 0.02 0.01 0.01 + 0.00 0.06 0.01 1.21 0.94 1.05 - 0.05 1.21 0.56 1.56 1.24 1.37 - 0.09 1.56 0.75 0.90 0.78 0.85 - 0.04 1.15 0.12 0.70 0.63 0.63 - 0.05 0.82 0.20 0.17 0.15 0.17 - 0.01 0.22 0.09 0.23 0.20 0.23 + 0.01 0.30 0.11 0.15 0.14 0.15 + 0.01 0.23 0.08 0.06 0.05 0.06 + 0.01 0.11 0.03 0.05 0.00 0.05 + 0.00 0.07 0.02 0.03 0.01 0.02 - 0.01 0.03 0.01 0.08 0.06 0.06 - 0.01 0.16 0.03 0.09 0.08 0.08 - 0.01 0.23 0.06 0.02 0.00 0.02 + 0.01 0.05 0.02 0.02 0.01 0.01 - 0.01 0.09 0.01 0.04 0.02 0.02 - 0.01 0.15 0.02 0.03 0.02 0.02 - 0.00 0.11 0.01 0.05 0.05 0.05 - 0.01 0.09 0.04 0.13 0.11 0.12 - 0.01 0.16 0.09 0.16 0.14 0.15 - 0.02 0.21 0.12 0.17 0.16 0.17 unch 0.00 0.31 0.01 0.25 0.20 0.21 - 0.02 0.45 0.08 0.06 0.06 0.06 unch 0.00 0.07 0.02 0.06 0.06 0.06 unch 0.00 0.10 0.05 4.50 4.03 4.18 - 0.01 4.50 2.30 5.85 5.28 5.42 - 0.01 5.91 3.01 0.23 0.12 0.19 + 0.07 0.23 0.09 0.17 0.10 0.14 + 0.05 0.17 0.06 0.14 0.13 0.14 + 0.02 0.21 0.08 0.08 0.00 0.08 unch 0.00 0.15 0.06 0.08 0.07 0.08 + 0.01 0.23 0.05 0.03 0.00 0.03 + 0.02 1.09 0.00 0.24 0.22 0.23 - 0.01 1.00 0.00 0.31 0.29 0.31 + 0.02 0.40 0.12 0.07 0.06 0.06 - 0.01 0.83 0.03 0.06 0.06 0.06 unch 0.00 0.15 0.04 0.50 0.50 0.50 unch 0.00 0.85 0.30 9.10 8.02 8.62 + 0.21 9.57 1.85 6.98 6.19 6.65 + 0.21 7.23 1.42 0.00 0.00 0.00 unch 0.00 0.10 0.00 0.77 0.65 0.67 - 0.06 1.58 0.53 0.59 0.50 0.51 - 0.06 1.19 0.40 0.12 0.08 0.12 + 0.04 0.12 0.04 0.07 0.07 0.07 unch 0.00 0.15 0.04 0.06 0.05 0.06 + 0.02 0.08 0.04 0.07 0.05 0.07 + 0.03 0.98 0.05 0.06 0.05 0.05 unch 0.00 0.09 0.02 0.10 0.08 0.10 + 0.01 0.12 0.04 0.15 0.13 0.13 unch 0.00 0.22 0.04 0.11 0.08 0.08 unch 0.00 0.38 0.08 0.07 0.07 0.07 - 0.01 0.12 0.06 0.10 0.09 0.10 + 0.01 0.16 0.09 0.03 0.02 0.03 + 0.00 0.06 0.02 0.03 0.03 0.03 unch 0.00 0.07 0.03 0.13 0.00 0.13 unch 0.00 0.15 0.08 0.06 0.05 0.05 - 0.01 0.17 0.03 0.16 0.14 0.15 + 0.00 0.18 0.01 0.21 0.19 0.19 - 0.01 0.23 0.12 0.04 0.00 0.04 + 0.02 0.15 0.00 0.26 0.20 0.22 - 0.05 0.44 0.13 1.05 1.01 1.04 - 0.01 1.31 0.56 0.80 0.78 0.80 unch 0.00 0.99 0.42 0.00 0.00 0.09 unch 0.00 0.40 0.35 0.40 + 0.05 0.40 0.07 0.08 0.06 0.07 unch 0.00 0.13 0.06 0.08 0.04 0.06 - 0.01 0.11 0.04 0.65 0.00 0.65 + 0.13 0.74 0.38 0.77 0.70 0.75 + 0.03 1.84 0.46 0.06 0.05 0.05 unch 0.00 0.25 0.04 0.04 0.00 0.04 + 0.00 0.20 0.02 0.00 0.00 0.02 unch 0.00 0.05 0.02 0.04 0.04 0.04 + 0.02 0.04 0.02

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Hanna Capital* O 0 Hanna Capital V 1 Hannan Metals V 438 Hannan Metals* O 210 Happy Ck Mnrls V 411 Harfang Explor V 48 Harmony Gold* N 33187 Harte Gold T 3461 Harte Gold* O 201 Harvest Gold* O 10 Harvest Gold V 143 Hawkeye Gld&Di* O 6 Hawkeye Gld&Di V 1465 Heatherdale Rs V 101 Hecla Mining* N 60269 Hemcare Health* O 47 Heron Res* O 376 Highbank Res V 94 Highbury Proj V 30 HighGold V 516 HighGold* O 164 Highland Copp V 524 O 493 Highland Copp* Highway 50 Gld* O 100 Highway 50 Gld V 87 HiHo Silver C 130 HiHo Silver* O 0 O 182 Hochschild Mg* Honey Badger E* O 2 Honey Badger E V 2274 T 738 Horizonte Mnls Hornby Bay Mnl* O 200 287 Hornby Bay Mnl V HudBay Min* N 4735 HudBay Min T 7344 Hudson Res V 40 Hudson Res* O 68 Hunt Mng* O 66 Hunt Mng V 3506 Hybrid Mineral V 80 Hycroft Mining* O 1

0.01 0.00 0.01 unch 0.00 0.07 0.01 0.00 0.00 0.03 unch 0.00 0.11 0.03 0.20 0.18 0.18 - 0.01 0.24 0.05 0.16 0.13 0.15 + 0.00 0.19 0.04 0.08 0.08 0.08 unch 0.00 0.17 0.08 0.20 0.19 0.19 unch 0.00 0.32 0.19 3.93 3.53 3.70 - 0.02 3.93 1.57 0.18 0.15 0.18 + 0.02 0.44 0.09 0.14 0.11 0.14 + 0.01 0.31 0.06 0.07 0.00 0.07 - 0.00 0.47 0.04 0.11 0.10 0.10 - 0.01 0.60 0.09 0.02 0.02 0.02 + 0.00 0.05 0.00 0.04 0.03 0.04 - 0.01 0.07 0.02 0.16 0.00 0.13 - 0.02 0.24 0.10 3.48 3.04 3.08 - 0.27 3.51 1.21 1.42 1.33 1.42 + 0.05 1.54 0.41 0.00 0.00 0.06 unch 0.00 0.45 0.05 0.02 0.01 0.01 unch 0.00 0.03 0.01 0.30 0.30 0.30 unch 0.00 0.30 0.17 1.40 1.22 1.30 + 0.04 1.89 0.78 1.45 0.94 1.00 + 0.03 1.45 0.79 0.04 0.03 0.03 unch 0.00 0.10 0.02 0.03 0.02 0.02 - 0.00 0.08 0.02 0.07 0.07 0.07 unch 0.00 0.17 0.04 0.08 0.07 0.08 - 0.01 0.22 0.06 0.04 0.03 0.04 + 0.01 0.08 0.02 0.01 0.01 0.01 unch 0.00 0.04 0.01 2.38 2.16 2.29 + 0.08 2.79 1.90 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.03 0.02 0.03 + 0.02 0.05 0.01 0.07 0.07 0.07 unch 0.00 0.09 0.03 0.05 0.05 0.05 unch 0.00 0.06 0.01 0.06 0.05 0.06 - 0.01 0.07 0.02 3.96 3.66 3.72 - 0.18 7.83 2.99 5.15 4.79 4.86 - 0.21 10.42 3.98 0.22 0.00 0.21 - 0.01 0.48 0.17 0.18 0.16 0.18 + 0.01 0.38 0.13 0.06 0.04 0.05 + 0.00 0.18 0.00 0.08 0.06 0.07 + 0.01 0.23 0.04 0.02 0.01 0.01 - 0.01 0.13 0.01 0.01 0.01 0.01 unch 0.00 0.03 0.00

I-Minerals* O 165 I-Minerals V 320 IAMGOLD T 5756 IAMGOLD* N 27863 Icon Explor* O 75 Iconic Mnls * O 35 Iconic Mnls V 15 Idaho Champion C 2037 IMC Intl Mng C 170 iMetal Res* O 210 iMetal Res V 3007 IMPACT Silver V 1302 O 46 Imperial Metal* Imperial Metal T 120 403 Imperial Mg Gr V Inca One Gold* O 23 660 Inca One Gold V Inception Mng * O 439 Independence G* O 71 Independence G V 83 Indigo Expl V 1134 Infinite Lith* O 109 Infinite Lith V 1289 Inform Res V 6 Infrastructure* O 290 Inomin Mines V 138 Inspiration Mg* O 1 Integra Res* O 463 Integra Res V 1018 Inter-Rock Mnl V 22 Inter-Rock Mnl* O 43 Intercontinent V 4 Intercontinent* O 95 Intl Battery* O 38 Intl Battery C 16 Intl Bethl Mng V 110 Intl Cobalt C 704 Intl Cobalt* O 101 Intl Lithium* O 74 Intl Lithium V 258 Intl Montoro* O 138 Intl Montoro V 778 0 Intl Prospect * O Intl Prospect V 50 Intl Samuel Ex V 317 Intl Star* O 4458 679 Intl Tower Hil* X Intl Tower Hil T 111 Intl Zeolite V 348 Intl Zeolite* O 43 Intrepid Pots* N 3894 INV Metals* O 41 INV Metals T 111 Inventus Mg * O 24 Inventus Mg V 339 InZinc Mining V 127 Irving Res* O 247 Irving Res C 300 IsoEnergy Ltd V 179 Itafos* O 18 Itafos V 15 Itoco Inc* O 499 Ivanhoe Mines* O 375 Ivanhoe Mines T 2318 Jade Leader* O 10 Jade Leader V 54 Jaeger Res V 8 Jaguar Mng T 6742 Jaguar Mng* O 1518 Japan Gold V 336 Japan Gold* O 77 Jasper Mining V 5 O 195 Jaxon Mining* Jaxon Mining V 574 Jayden Res* O 114 Jayden Res V 95 Jazz Res V 70 JDF Explor Inc C 146 Jervois Mining V 1148 Jervois Mining* O 1169 Jiulian Res V 378 Josemaria Res* O 11 Josemaria Res T 100 Joshua Gold* O 58 Jourdan Res V 433 Jubilee Metals* O 211 Juggernaut Exp V 175 Juggernaut Exp* O 158 Jupiter Gold* O 2 K2 Gold V 432 K92 Mining* O 1769 K92 Mining V 5736 Kaizen Discov V 391 Kaizen Discvry* O 274 Kal Minerals C 5 Kapuskasing Gd* O 120 V 328 Kapuskasing Gd Karam Min C 69 Karnalyte Res T 120 Karoo Expl V 390 KAT Expl* O 260398 Katanga Mng T 2460 Kenadyr Mining V 63 Kenadyr Mining* O 2 Kerr Mines* O 297 Kerr Mines T 481 Kesselrun Res V 2818 Kestrel Gold V 375 Kilo Goldmines V 6423 Kilo Goldmines* O 19 Kincora Copper* O 35 Kincora Copper V 46 King Global* O 3 King Global V 189 Kingsmen Res* O 16 Kingsmen Res V 85 Kingsrose Mng* O 10 Kinross Gold* N 57305 Kinross Gold T 14724 Kintavar Exp V 743 Kirkland Lake* N 5909 Kirkland Lake T 5186 Klondike Gold* O 172 Klondike Gold V 614 Klondike Silv* O 158 Klondike Silv V 620 Kombat Copper* O 25 Kombat Copper V 714 Komet Resource V 75

0.05 0.04 0.05 + 0.02 0.14 0.02 0.05 0.05 0.05 + 0.01 0.19 0.03 4.89 4.40 4.50 - 0.25 5.55 3.08 3.77 3.36 3.43 - 0.21 4.17 2.28 0.00 0.00 0.07 unch 0.00 0.21 0.07 0.04 0.04 0.04 - 0.00 0.13 0.03 0.05 0.05 0.05 - 0.01 0.18 0.04 0.08 0.04 0.08 + 0.04 0.20 0.04 0.35 0.00 0.31 + 0.06 0.35 0.15 0.07 0.05 0.07 + 0.01 0.14 0.03 0.08 0.06 0.08 + 0.01 0.19 0.04 0.45 0.38 0.41 - 0.02 0.51 0.23 1.75 1.57 1.59 - 0.12 2.60 1.00 2.30 2.04 2.10 - 0.18 3.50 1.33 0.05 0.04 0.04 - 0.01 0.11 0.03 0.02 0.01 0.02 - 0.00 0.04 0.01 0.03 0.02 0.02 - 0.01 0.05 0.02 0.07 0.05 0.05 - 0.00 0.55 0.05 0.05 0.00 0.05 + 0.00 0.08 0.00 0.07 0.05 0.05 - 0.01 0.10 0.05 0.02 0.01 0.02 + 0.01 0.02 0.01 0.08 0.05 0.08 - 0.00 0.08 0.01 0.11 0.08 0.11 + 0.02 0.11 0.03 0.06 0.00 0.06 unch 0.00 0.07 0.03 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.04 0.03 0.04 + 0.01 0.05 0.02 0.00 0.00 0.00 unch 0.00 0.03 0.00 0.96 0.87 0.94 + 0.03 1.07 0.46 1.25 1.12 1.24 + 0.06 1.42 0.61 0.26 0.25 0.26 + 0.03 0.35 0.19 0.20 0.00 0.20 + 0.03 0.20 0.16 0.16 0.16 0.16 unch 0.00 0.27 0.09 0.13 0.13 0.13 unch 0.00 0.20 0.07 0.11 0.10 0.11 - 0.01 0.16 0.03 0.13 0.00 0.13 unch 0.00 0.21 0.05 0.03 0.03 0.03 unch 0.00 0.10 0.02 0.02 0.01 0.01 unch 0.00 0.05 0.01 0.01 0.00 0.00 - 0.01 0.04 0.00 0.04 0.02 0.04 + 0.01 0.06 0.02 0.05 0.04 0.05 unch 0.00 0.09 0.03 0.03 0.02 0.03 + 0.00 0.06 0.02 0.04 0.03 0.04 unch 0.00 0.09 0.03 0.06 0.00 0.06 + 0.01 0.12 0.05 0.10 0.09 0.10 unch 0.00 0.20 0.07 0.10 0.09 0.10 unch 0.00 0.40 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.58 0.52 0.55 + 0.00 0.72 0.42 0.75 0.68 0.72 + 0.02 0.94 0.60 0.05 0.05 0.05 unch 0.00 0.16 0.05 0.04 0.00 0.04 - 0.00 0.12 0.03 2.66 2.21 2.30 - 0.35 4.39 2.06 0.00 0.00 0.32 unch 0.00 0.59 0.22 0.40 0.39 0.39 - 0.02 0.83 0.30 0.10 0.09 0.09 - 0.01 0.12 0.05 0.12 0.11 0.12 unch 0.00 0.16 0.07 0.02 0.00 0.02 unch 0.00 0.07 0.02 2.44 2.29 2.38 + 0.01 2.53 1.12 3.18 2.98 3.11 + 0.04 3.27 1.50 0.45 0.39 0.43 + 0.05 0.79 0.35 0.51 0.42 0.46 - 0.08 1.23 0.29 0.66 0.55 0.56 - 0.09 1.63 0.45 0.20 0.13 0.15 + 0.02 0.90 0.07 3.14 2.91 3.00 - 0.13 3.46 1.65 4.08 3.81 3.90 - 0.16 4.54 2.24 0.17 0.15 0.15 - 0.02 0.27 0.13 0.22 0.21 0.21 - 0.01 0.35 0.13 0.01 0.00 0.01 unch 0.00 0.04 0.01 0.26 0.19 0.26 + 0.06 0.30 0.07 0.20 0.15 0.19 + 0.03 0.22 0.05 0.28 0.26 0.27 + 0.01 0.43 0.16 0.21 0.20 0.21 + 0.00 0.32 0.13 0.10 0.10 0.10 unch 0.00 0.25 0.01 0.05 0.03 0.04 - 0.00 0.07 0.02 0.06 0.05 0.06 + 0.01 0.10 0.03 0.01 0.01 0.01 unch 0.00 0.11 0.00 0.02 0.02 0.02 unch 0.00 0.17 0.01 0.05 0.05 0.05 - 0.01 0.06 0.03 0.22 0.15 0.22 + 0.02 0.71 0.01 0.21 0.19 0.19 - 0.01 0.24 0.13 0.18 0.13 0.15 - 0.01 0.20 0.11 0.03 0.02 0.03 + 0.01 0.14 0.01 0.55 0.53 0.53 - 0.02 0.91 0.39 0.75 0.68 0.69 - 0.07 1.22 0.50 0.17 0.14 0.17 + 0.00 0.40 0.08 0.02 0.01 0.01 - 0.01 0.06 0.01 0.06 0.05 0.06 + 0.01 0.06 0.03 0.25 0.22 0.23 - 0.01 1.35 0.10 0.20 0.17 0.17 - 0.03 1.02 0.06 0.70 0.35 0.60 + 0.25 2.00 0.25 0.26 0.21 0.26 + 0.03 0.37 0.17 2.61 2.32 2.46 + 0.15 2.61 0.76 3.37 3.02 3.20 + 0.20 3.37 1.03 0.05 0.04 0.05 + 0.01 0.07 0.03 0.04 0.02 0.04 + 0.02 0.05 0.02 0.08 0.08 0.08 unch 0.00 0.25 0.08 0.07 0.07 0.07 unch 0.00 0.07 0.07 0.13 0.00 0.11 + 0.02 0.14 0.03 0.15 0.00 0.14 + 0.11 0.15 0.03 0.20 0.18 0.19 - 0.01 0.36 0.15 0.50 0.14 0.45 + 0.36 1.65 0.04 0.00 0.00 0.00 + 0.00 0.00 0.00 0.12 0.12 0.12 - 0.01 0.83 0.11 0.05 0.05 0.05 unch 0.00 0.11 0.04 0.03 0.03 0.03 - 0.01 0.07 0.03 0.14 0.11 0.12 - 0.00 0.21 0.08 0.18 0.14 0.16 - 0.01 0.27 0.11 0.07 0.05 0.06 + 0.02 0.07 0.03 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.00 0.00 0.00 + 0.00 0.01 0.00 0.04 0.03 0.03 - 0.01 0.11 0.03 0.05 0.05 0.05 unch 0.00 0.16 0.01 0.01 0.01 0.01 unch 0.00 0.05 0.00 0.02 0.02 0.02 unch 0.00 0.10 0.01 0.06 0.06 0.06 unch 0.00 0.52 0.01 0.12 0.10 0.12 - 0.01 0.70 0.07 0.08 0.08 0.08 unch 0.00 0.16 0.08 4.83 4.44 4.53 - 0.18 5.47 3.00 6.29 5.81 5.93 - 0.19 7.24 4.04 0.15 0.13 0.13 - 0.02 0.28 0.10 45.44 42.52 44.63 + 0.64 51.08 26.12 59.09 55.58 58.33 + 1.17 67.87 34.43 0.26 0.20 0.21 - 0.04 0.35 0.12 0.35 0.27 0.27 - 0.06 0.45 0.17 0.04 0.03 0.04 - 0.00 0.04 0.01 0.05 0.04 0.04 - 0.01 0.05 0.03 0.15 0.00 0.15 + 0.05 0.15 0.05 0.22 0.15 0.17 + 0.01 0.22 0.05 0.12 0.10 0.11 unch 0.00 0.20 0.05

I-J-K

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Kootenay Silvr* O 783 V 1918 Kootenay Silvr Kootenay Zinc C 32 O 82 Kootenay Zinc* Kore Mining * O 142 Kore Mining V 471 39 Kutcho Copper * O KWG Res* O 9 KWG Res C 926

0.26 0.21 0.22 - 0.03 0.27 0.08 0.34 0.28 0.30 - 0.02 0.35 0.11 0.07 0.00 0.05 unch 0.00 0.29 0.05 0.05 0.03 0.04 - 0.00 0.17 0.02 0.23 0.21 0.23 + 0.01 0.31 0.12 0.30 0.27 0.29 + 0.01 0.41 0.13 0.20 0.16 0.17 - 0.02 0.35 0.10 0.01 0.00 0.01 + 0.01 0.01 0.00 0.01 0.01 0.01 unch 0.00 0.02 0.01

Labrador Gold V 178 Labrador IMH* O 626 Labrador IOR* O 4 Labrador IOR T 1350 O 4080 Lake Resources* Lara Expl V 121 Laramide Res T 2132 Laredo Res* O 644 Largo Res T 1289 Largo Res* O 847 V 342 Latin American Latin American* O 5 Latin Metals V 27 Latin Metals* O 19 Laurion Mnl Ex* O 56 Laurion Mnl Ex V 303 Leading Edge* O 898 Leading Edge V 265 Leagold Mg T 2982 Leagold Mg* O 1022 Leeta Gold V 12978 Legion Metals C 758 Leo Res* O 14 Lepanto Con Mg* O 3004 O 366 Libero Copper* Libero Copper V 1821 Liberty Gold* O 1358 Liberty One Li V 1365 Liberty One Li* O 300 LiCo Energy* O 50 LiCo Energy V 52 Lightspeed Dis* O 0 Lightspeed Dis V 3 Lincoln Mng V 45 Lion One Mtls V 1110 Lion One Mtls* O 509 Lions Bay Cap V 7159 Lions Bay Mg C 2 Lions Bay Mg * O 1 Lions Gate Mtl* O 25 Lithion Energy* O 4 Lithium Amer* N 2248 Lithium Amer T 1231 Lithium Chile* O 87 Lithium Chile V 226 Lithium Corp* O 743 Lithium Energi V 577 Lithium Energi* O 25 Lithoquest Dia* O 0 V 66 Lithoquest Dia LKA Gold* O 10 Lode-Star Mg* O 0 Lodge Res C 85 Logan Res V 100 Logan Res* O 2 Lomiko Mtls* O 143 Lomiko Mtls V 343 Loncor Res* O 42 Loncor Res T 65 Lone Star Gold* O 11 Los Andes V 132 Los Andes* O 20 Lucara Diam T 734 Lucky Min V 1496 Lucky Min* O 263 Luckystrike * O 5 Luckystrike V 16 Lumina Gold* O 177 Lumina Gold V 607 Luminex Res V 93 Lundin Gold T 1112 Lundin Mng* O 219 Lundin Mng T 7799 Lupaka Gold * O 16 Lupaka Gold V 416 Lynas Corp* O 217 Lynas Corp* O 266

0.15 0.13 0.15 unch 0.00 0.26 0.11 0.05 0.03 0.03 + 0.00 0.20 0.00 18.00 17.81 17.89 - 0.61 27.20 16.69 24.06 23.09 23.09 - 0.80 36.01 21.87 0.32 0.04 0.05 - 0.01 0.32 0.02 0.65 0.00 0.58 - 0.01 0.66 0.42 0.23 0.18 0.22 + 0.02 0.46 0.18 0.00 0.00 0.00 - 0.00 0.01 0.00 1.04 0.99 1.01 - 0.01 3.27 0.81 0.81 0.75 0.77 - 0.02 2.46 0.62 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.15 0.13 0.13 - 0.03 0.20 0.08 0.09 0.09 0.09 unch 0.00 0.11 0.02 0.12 0.11 0.12 + 0.01 0.16 0.06 0.17 0.16 0.17 + 0.01 0.22 0.08 0.09 0.06 0.08 + 0.02 0.30 0.04 0.11 0.09 0.11 + 0.02 0.40 0.06 3.38 3.12 3.34 + 0.23 3.34 1.41 2.60 2.34 2.56 + 0.15 2.60 1.04 0.13 0.10 0.12 + 0.01 0.82 0.08 0.40 0.34 0.38 - 0.02 0.83 0.26 0.00 0.00 0.00 + 0.00 0.12 0.00 0.00 0.00 0.00 + 0.00 0.00 0.00 0.09 0.07 0.08 - 0.01 0.18 0.05 0.12 0.09 0.10 - 0.02 0.23 0.07 0.88 0.76 0.87 + 0.02 0.88 0.22 0.07 0.05 0.06 + 0.01 0.15 0.04 0.06 0.04 0.04 + 0.00 0.11 0.02 0.02 0.02 0.02 - 0.00 0.10 0.01 0.03 0.03 0.03 unch 0.00 0.13 0.02 0.00 0.00 0.07 unch 0.00 0.11 0.07 0.10 0.10 0.10 unch 0.00 0.32 0.08 0.09 0.08 0.08 unch 0.00 0.25 0.05 1.79 1.62 1.66 - 0.07 1.90 0.35 1.38 1.24 1.28 - 0.04 1.46 0.24 0.04 0.04 0.04 - 0.01 0.10 0.03 0.00 0.00 0.09 unch 0.00 0.20 0.03 0.07 0.00 0.06 - 0.00 0.14 0.00 0.03 0.03 0.03 unch 0.00 0.04 0.03 0.24 0.24 0.24 unch 0.00 0.35 0.03 4.12 3.39 3.95 + 0.43 4.89 2.75 5.38 4.40 5.14 + 0.56 6.43 3.60 0.18 0.00 0.17 - 0.01 0.49 0.16 0.25 0.22 0.23 - 0.02 0.65 0.21 0.08 0.05 0.07 + 0.02 0.15 0.05 0.20 0.10 0.18 + 0.08 0.24 0.03 0.14 0.08 0.14 + 0.05 0.17 0.01 0.00 0.00 0.04 unch 0.00 0.08 0.04 0.07 0.06 0.06 - 0.01 0.22 0.05 0.12 0.07 0.12 + 0.05 0.20 0.06 0.00 0.00 0.07 unch 0.00 0.15 0.03 0.52 0.47 0.49 - 0.05 0.55 0.11 0.08 0.07 0.07 - 0.01 0.24 0.04 0.03 0.03 0.03 unch 0.00 0.12 0.03 0.03 0.02 0.02 + 0.00 0.07 0.01 0.04 0.00 0.03 unch 0.00 0.09 0.02 0.34 0.31 0.31 - 0.01 0.40 0.09 0.44 0.40 0.43 - 0.01 0.49 0.12 0.55 0.38 0.53 + 0.10 2.12 0.05 0.40 0.36 0.40 unch 0.00 0.52 0.17 0.30 0.29 0.29 - 0.01 0.40 0.15 0.84 0.80 0.83 unch 0.00 1.87 0.78 0.02 0.02 0.02 - 0.01 0.15 0.01 0.02 0.02 0.02 + 0.00 0.12 0.01 0.43 0.35 0.35 - 0.08 2.07 0.10 0.47 0.42 0.42 - 0.06 0.58 0.02 0.55 0.49 0.50 + 0.00 1.03 0.38 0.70 0.63 0.64 unch 0.00 0.73 0.50 0.80 0.70 0.75 - 0.03 1.02 0.54 8.98 8.28 8.52 - 0.01 9.04 4.59 6.03 5.72 5.91 + 0.01 6.25 4.10 7.86 7.40 7.70 + 0.06 7.98 5.46 0.01 0.00 0.01 unch 0.00 0.08 0.00 0.02 0.00 0.02 + 0.01 0.12 0.01 1.69 1.52 1.63 - 0.00 2.29 1.06 1.68 1.58 1.67 + 0.04 2.33 1.05

M M.P.V. Explor C 5 0.12 0.12 0.12 unch 0.00 0.18 0.06 Macarthur Min V 731 0.23 0.17 0.17 - 0.05 0.27 0.01 MacDonald Mns* O 65 0.08 0.07 0.07 - 0.00 0.16 0.02 MacDonald Mns V 798 0.10 0.09 0.09 unch 0.00 0.21 0.03 MAG Silver T 1100 15.20 14.05 14.16 - 0.67 18.60 9.66 Magellan Gold* O 14 1.46 1.06 1.40 unch 0.00 3.80 1.02 0.19 Magna Gold V 157 0.32 0.29 0.30 - 0.01 0.55 Magna Gold* O 79 0.30 0.22 0.22 - 0.02 0.38 0.20 Magnitude Mng V 25 0.12 0.12 0.12 unch 0.00 0.20 0.04 Majestic Gold V 350 0.05 0.05 0.05 unch 0.00 0.08 0.04 Majestic Gold* O 1 0.04 0.04 0.04 + 0.01 0.06 0.03 Makena Res* O 23 0.48 0.43 0.44 - 0.05 2.18 0.40 Mako Mining* O 825 0.27 0.21 0.25 - 0.03 0.28 0.01 0.09 Mako Mining V 1922 0.35 0.28 0.32 - 0.03 0.37 Mammoth Res V 189 0.04 0.03 0.04 + 0.01 0.06 0.02 Mandalay Res T 565 1.26 1.15 1.24 + 0.05 1.60 0.65 Mandalay Res* O 28 0.95 0.00 0.92 + 0.07 1.12 0.05 Manganese X* O 30 0.07 0.07 0.07 + 0.03 0.13 0.04 Manganese X V 760 0.12 0.08 0.10 + 0.02 0.18 0.06 Mangazeya Mng V 85 0.07 0.07 0.07 unch 0.00 0.08 0.03 Mangazeya Mng* O 1 0.05 0.05 0.05 unch 0.00 0.05 0.01 Manitou Gold * O 260 0.06 0.05 0.05 + 0.00 0.06 0.02 Manitou Gold V 1600 0.07 0.06 0.07 + 0.01 0.07 0.02 Maple Gold V 1242 0.11 0.09 0.10 - 0.01 0.13 0.07 Maple Gold* O 1103 0.08 0.07 0.08 + 0.00 0.10 0.05 Marathon Gold* O 245 1.31 1.17 1.26 - 0.04 1.34 0.58 Marathon Gold T 853 1.69 1.54 1.65 - 0.02 1.76 0.78 Margaret Lake* O 12 0.02 0.02 0.02 unch 0.00 0.06 0.02 Margaret Lake V 110 0.03 0.03 0.03 unch 0.00 0.11 0.02 Margaux Res V 699 0.08 0.05 0.06 - 0.01 0.15 0.03 Margaux Res* O 0 0.04 0.04 0.04 unch 0.00 0.08 0.04 Marifil Mines* O 120 0.07 0.04 0.04 - 0.00 0.14 0.04 Marifil Mines V 91 0.07 0.06 0.06 - 0.03 0.18 0.05 Mariner Res C 125 0.16 0.16 0.16 unch 0.00 0.20 0.15 Maritime Res V 162 0.08 0.08 0.08 unch 0.00 0.12 0.07 MartinMarietta* N 2429 279.76 272.30 276.87 + 1.08 281.82 171.84 Mas Gold V 161 0.09 0.00 0.08 unch 0.00 0.16 0.04 Mascota Res* O 0 2.35 0.00 2.35 + 0.00 50.00 1.21 Mason Graphite* O 1463 0.27 0.16 0.27 + 0.11 0.42 0.14 Mason Graphite V 4080 0.36 0.21 0.36 + 0.15 0.57 0.19 Matachewan Con V 4 0.12 0.00 0.12 + 0.01 0.20 0.11 Matica Ent C 1829 0.04 0.04 0.04 - 0.00 0.17 0.04 Matmown* O 82 0.01 0.01 0.01 + 0.01 0.03 0.00 Maverix Metals T 407 7.07 6.58 6.64 - 0.32 7.30 4.32 Maverix Metals* X 447 5.50 5.04 5.09 - 0.31 5.72 1.65 Mawson Res* O 109 0.19 0.14 0.19 + 0.05 0.22 0.09 Mawson Res T 341 0.24 0.19 0.23 + 0.04 0.29 0.13 MAX Res V 522 0.18 0.00 0.15 + 0.04 3.00 0.07 MaxTech Vent* O 344 0.09 0.07 0.08 - 0.00 0.11 0.02 MaxTech Vent C 392 0.11 0.08 0.10 - 0.01 0.15 0.03 Maxwell Res* O 0 0.00 0.00 0.06 unch 0.00 4.54 0.05 Maya Gold &Sil* O 12 1.66 1.50 1.66 + 0.04 1.84 1.15 Maya Gold &Sil T 184 2.29 1.96 2.17 + 0.07 2.63 1.55 Mazarin V 271 0.11 0.05 0.10 + 0.03 0.12 0.04 MBMI Res* O 2 0.04 0.04 0.04 unch 0.00 0.10 0.01 MBMI Res V 0 0.00 0.00 0.13 unch 0.00 0.32 0.04 McChip Res V 3 0.54 0.00 0.54 + 0.03 0.93 0.50 McEwen Mng T 1884 1.70 1.50 1.64 + 0.02 2.84 1.35 McEwen Mng* N 17017 1.32 1.14 1.25 unch 0.00 2.14 1.02 McLaren Res C 190 0.04 0.03 0.04 + 0.01 0.05 0.01 MDN Inc* O 8 0.35 0.29 0.29 - 0.06 0.40 0.11 Mechel* N 5054 3.29 2.22 2.91 + 0.90 3.29 1.53 Medallion Res V 335 0.10 0.08 0.10 + 0.02 0.28 0.07 Medallion Res* O 243 0.08 0.06 0.07 + 0.01 0.21 0.05 Medgold Res* O 11 0.05 0.00 0.05 + 0.02 0.12 0.03 Medgold Res V 279 0.06 0.05 0.06 + 0.01 0.17 0.05 Medinah Mnrls* O 2106 0.00 0.00 0.00 + 0.00 0.00 0.00 Mega Uranium* O 257 0.08 0.06 0.07 - 0.01 0.09 0.05 Mega Uranium T 656 0.10 0.09 0.09 - 0.01 0.13 0.08 Megastar Dev V 222 0.11 0.10 0.11 + 0.01 0.19 0.05 MegumaGold* O 160 0.12 0.11 0.11 unch 0.00 0.15 0.03 MegumaGold C 980 0.16 0.14 0.15 unch 0.00 0.21 0.06 Melkior Res V 973 0.04 0.03 0.03 - 0.01 0.12 0.02 Mensa Mng Corp* O 0 0.00 0.00 0.00 unch 0.00 Meridian Mg V 32 0.07 0.07 0.07 unch 0.00 0.22 0.04 Meryllion Res* O 6 0.00 0.00 0.00 unch 0.00 0.01 0.00 Meryllion Res C 2790 0.01 0.01 0.01 unch 0.00 0.04 0.01 Mesa Expl* O 25 0.00 0.00 0.00 unch 0.00 0.00 0.00 MetalCorp* O 1 0.01 0.01 0.01 unch 0.00 0.01 0.00 MetalCorp V 544 0.03 0.00 0.02 - 0.01 0.03 0.01 Metalex Vent V 256 0.03 0.00 0.02 - 0.01 0.08 0.02

2020-01-13 4:47 PM

WWW.NORTHERNMINER.COM

JANUARY 20–FEBRUARY 2, 2020 / 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

Metalex Vent * O 22 Metalla Rylty V 675 Metalla Rylty* O 741 Metallic Mnrls* O 691 Metallic Mnrls V 963 Metallica Min* O 16 Metallis Res V 123 Metalo Manuf C 105 Metalore Res V 5 Metalore Res* O 6 Metals Creek* O 2 Metals Creek V 504 Metals X* O 66 Mexican Gold* O 12 Mexivada Mng* O 585 Mexus Gold* O 5583 MGX Minerals* O 1282 C 2653 MGX Minerals C 75 Mich Resources Midas Gold T 1160 Midas Gold* O 1160 Midasco Cap V 5 Midland Expl V 120 Midnight Sun* O 68 Midnight Sun V 26 Millennial Lit* O 123 Millennial Lit V 381 Millrock Res* O 570 Millrock Res V 1101 Minaurum Gold V 462 O 522 Minaurum Gold* Minco Silver T 134 Minco Silver* O 34 Minera Alamos * O 994 Minera Alamos V 2775 Minera IRL C 1830 Minera IRL* O 235 Mineral Mtn V 1451 Mineral Mtn* O 294 Mineral Res* O 0 MineralRite* O 4734 Mineworx Tech V 377 Mineworx Tech* O 206 V 67 Minfocus Expl Mining Global* O 853 Minnova Corp V 40 Miramont Res* O 89 C 374 Miramont Res Mirasol Res V 356 Mistango River C 24 Mkango Res V 4 ML Gold* O 1 ML Gold Corp V 1783 Monarca Mnrls* O 1080 Monarca Mnrls V 286 T 1323 Monarch Gold Monarch Gold* O 323 Moneta Porcpn* O 101 Moneta Porcpn T 1568 Mongoose Mg C 1016 Monitor Vent V 2 Monitor Vent* O 0 Monterey Min C 76 V 48 Montero Mg&Ex Montero Mg&Ex * O 2 Monument Mng V 846 Morien Res* O 11 Morien Res V 125 Mosaic* N 18334 Mountain Boy V 61 Mountain Boy* O 50 Mountain Prov* D 105 Mountain Prov T 82 Mundoro Cap* O 45 Mundoro Cap V 160 V 389 Murchison Min MX Gold* O 14

0.03 0.03 0.03 unch 0.00 0.03 0.01 8.25 6.95 7.75 + 0.02 8.25 3.04 6.41 5.89 5.95 + 0.02 6.41 2.26 0.23 0.20 0.22 + 0.02 0.23 0.08 0.30 0.26 0.29 + 0.04 0.30 0.11 0.01 0.01 0.01 - 0.00 0.02 0.01 0.35 0.30 0.30 - 0.05 0.99 0.28 0.12 0.10 0.10 unch 0.00 0.40 0.10 1.95 1.90 1.90 - 0.05 2.60 0.89 1.50 1.44 1.44 - 0.05 1.52 0.71 0.04 0.04 0.04 - 0.00 0.05 0.02 0.05 0.04 0.04 - 0.01 0.06 0.03 0.06 0.05 0.06 - 0.00 0.31 0.05 0.07 0.06 0.07 - 0.00 0.17 0.04 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.01 0.00 0.00 - 0.00 0.03 0.00 0.11 0.06 0.07 + 0.01 0.34 0.03 0.15 0.08 0.10 + 0.03 0.46 0.04 0.35 0.32 0.32 - 0.03 0.50 0.08 0.73 0.63 0.68 - 0.01 1.03 0.51 0.56 0.48 0.52 - 0.01 0.79 0.39 0.08 0.08 0.08 unch 0.00 0.15 0.08 0.98 0.90 0.92 - 0.04 1.46 0.66 0.09 0.09 0.09 + 0.01 0.11 0.08 0.12 0.11 0.12 unch 0.00 0.16 0.10 1.04 0.75 0.98 + 0.14 1.59 0.69 1.35 1.06 1.26 + 0.16 2.12 0.98 0.13 0.10 0.10 - 0.03 0.16 0.05 0.17 0.13 0.14 - 0.03 0.21 0.07 0.53 0.46 0.53 + 0.01 0.55 0.32 0.42 0.35 0.41 + 0.01 0.43 0.23 0.75 0.68 0.75 unch 0.00 0.99 0.37 0.57 0.52 0.56 + 0.01 0.73 0.30 0.24 0.21 0.22 + 0.00 0.27 0.07 0.31 0.27 0.28 - 0.02 0.32 0.10 0.21 0.18 0.18 + 0.02 0.21 0.05 0.14 0.12 0.14 + 0.02 0.14 0.10 0.39 0.34 0.36 - 0.04 0.53 0.10 0.30 0.26 0.27 - 0.04 0.43 0.07 11.70 11.70 11.70 unch 0.00 12.00 8.77 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.13 0.12 0.13 unch 0.00 0.24 0.07 0.10 0.09 0.10 + 0.00 0.18 0.06 0.05 0.04 0.05 + 0.01 0.09 0.04 0.00 0.00 0.00 - 0.00 0.00 0.00 0.08 0.08 0.08 unch 0.00 0.73 0.06 0.09 0.08 0.09 + 0.02 0.48 0.05 0.12 0.11 0.12 + 0.01 0.63 0.07 0.57 0.52 0.53 - 0.01 1.39 0.49 0.04 0.00 0.04 unch 0.00 0.05 0.01 0.14 0.00 0.13 - 0.03 0.19 0.09 0.08 0.08 0.08 + 0.02 0.54 0.01 0.13 0.10 0.11 unch 0.00 0.77 0.09 0.03 0.02 0.02 - 0.00 0.06 0.02 0.04 0.03 0.03 - 0.01 0.08 0.03 0.23 0.21 0.22 unch 0.00 0.33 0.20 0.18 0.16 0.17 + 0.00 0.24 0.14 0.11 0.09 0.11 + 0.00 0.12 0.06 0.14 0.13 0.13 unch 0.00 0.16 0.09 0.14 0.14 0.14 unch 0.00 0.15 0.12 0.17 0.00 0.17 - 0.03 0.30 0.14 0.00 0.00 0.16 unch 0.00 0.30 0.10 0.05 0.00 0.05 unch 0.00 0.16 0.04 0.05 0.04 0.04 - 0.01 0.20 0.03 0.05 0.05 0.05 unch 0.00 0.17 0.02 0.05 0.04 0.04 unch 0.00 0.08 0.04 0.33 0.33 0.33 - 0.00 0.41 0.25 0.44 0.40 0.41 - 0.04 0.54 0.33 21.31 20.36 20.62 - 0.14 33.91 17.36 0.28 0.23 0.26 + 0.03 0.28 0.16 0.15 0.15 0.15 + 0.02 0.21 0.11 0.91 0.87 0.89 + 0.00 1.37 0.65 1.17 1.14 1.16 + 0.02 1.86 0.91 0.13 0.13 0.13 - 0.00 0.19 0.00 0.16 0.15 0.15 unch 0.00 0.25 0.10 0.17 0.11 0.11 - 0.06 0.18 0.04 0.00 0.00 0.00 - 0.00 0.01 0.00

NA Frac Sand* O 202 NACCO Ind* N 95 Namibia Crit V 477 Namibia Crit* O 286 Napier Vent V 308 72 Natural Res Pt* N Nautilus Mnrls* O 672 Neo Lithium V 1132 Neometals* O 4 Network Expl* O 149 Network Expl V 547 Nevada Canyon* O 1 Nevada Copper T 1651 O 26 Nevada Energy* Nevada Energy V 21 Nevada Expl * O 884 Nevada Expl V 847 Nevada Sunrise* O 166 Nevada Sunrise V 419 Nevada Zinc V 167 Nevado Res V 9 New Age Metals* O 409 905 New Age Metals V 50 New Carolin Gd* O New Carolin Gd V 1093 New Destiny Mg V 62 New Dimen Res V 624 New Dimen Res* O 0 New Energy Met V 862 New Energy Met* O 1186 New Gold T 10013 New Gold* X 16262 New Guinea Gld* O 169 New Jersey Mng* O 994 New Milln Iron* O 150 New Milln Iron T 872 New Oroperu V 457 New Pac Metals* O 2460 New Pac Metals V 2230 New Tech Min* O 20 New Tech Min C 348 Newlox Gold C 94 Newmac Res V 1 Newmont T 644 Newmont* N 41954 Newport Expl V 385 O 0 Newport Gold* O 227 NewRange Gold* V 429 NewRange Gold Nexa Resources T 4 Nexa Resources* N 240 Nexco Res C 50 Nexgen Energy* X 1554 T 1573 Nexgen Energy NextSource Mat T 1306 Nexus Gold* O 112 Nexus Gold V 2080 NGEx Minerals* O 26 NGEx Minerals V 146 Nickel Creek T 294 Nickel Creek* O 103 Nickel North V 4 Nicola Mg Inc V 712 Nicola Mg Inc* O 32 Nighthawk Gold* O 1028 T 3171 Nighthawk Gold Niobay Metals V 209 Niocan Inc V 51 Niocorp Dev T 482 Niocorp Dev* O 682 Nippon Dragon V 104 Nippon Dragon* O 68 Noble Metal V 657 Noble Mineral* O 45 Noble Mineral V 137 Noka Res* O 237 Noram Vent V 75 Noranda Alum* O 4 Noront Res* O 165 Noront Res V 1755 Norra Metals V 558 Nortec Mnls V 230 Nortec Mnls* O 62 North Am Nickl* O 13 North Am Nickl V 258 North Arrow Mn* O 11 North Arrow Mn V 80

0.02 0.01 0.01 + 0.00 0.03 0.00 48.42 45.90 47.84 + 1.52 66.40 33.51 0.16 0.14 0.14 - 0.02 0.31 0.08 0.14 0.10 0.11 - 0.01 0.24 0.06 0.14 0.09 0.09 - 0.04 0.30 0.09 21.82 20.67 20.78 - 0.41 44.71 19.25 0.01 0.01 0.01 unch 0.00 0.06 0.00 0.63 0.48 0.59 + 0.07 1.13 0.39 0.13 0.13 0.13 unch 0.00 0.22 0.10 0.24 0.21 0.21 - 0.00 0.45 0.13 0.31 0.28 0.28 - 0.02 0.54 0.18 0.03 0.03 0.03 unch 0.00 0.25 0.03 0.36 0.33 0.35 + 0.01 0.53 0.19 0.11 0.00 0.10 unch 0.00 0.12 0.07 0.13 0.00 0.11 - 0.02 0.16 0.10 0.30 0.24 0.26 + 0.02 0.30 0.11 0.39 0.31 0.34 + 0.02 0.39 0.15 0.04 0.02 0.03 - 0.01 0.09 0.02 0.05 0.04 0.04 - 0.01 0.13 0.04 0.04 0.04 0.04 unch 0.00 0.14 0.03 0.11 0.11 0.11 unch 0.00 0.20 0.11 0.04 0.03 0.03 - 0.01 0.08 0.02 0.05 0.05 0.05 - 0.01 0.10 0.03 0.06 0.05 0.05 - 0.01 0.18 0.05 0.08 0.07 0.07 - 0.01 0.24 0.07 0.07 0.06 0.07 + 0.01 0.24 0.05 0.03 0.00 0.03 - 0.01 0.08 0.03 0.00 0.00 0.02 unch 0.00 0.05 0.02 0.05 0.03 0.04 - 0.01 0.80 0.02 0.10 0.03 0.03 - 0.00 0.26 0.03 1.34 1.16 1.31 + 0.14 2.03 0.82 1.03 0.88 0.99 + 0.10 1.56 0.61 0.00 0.00 0.00 + 0.00 0.02 0.00 0.17 0.14 0.16 + 0.02 0.20 0.11 0.05 0.05 0.05 + 0.01 0.08 0.03 0.08 0.06 0.08 + 0.02 0.11 0.05 0.80 0.68 0.75 + 0.06 0.80 0.22 5.60 4.58 4.79 - 0.09 5.60 1.09 6.95 6.01 6.20 - 0.11 6.95 1.50 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.07 0.05 0.06 - 0.01 0.10 0.03 0.00 0.00 0.07 unch 0.00 0.09 0.04 56.80 54.29 55.15 - 0.54 57.37 40.01 43.85 41.55 42.27 - 0.56 44.08 29.77 0.45 0.41 0.44 + 0.04 0.45 0.23 0.00 0.00 0.00 unch 0.00 0.04 0.00 0.13 0.10 0.10 - 0.02 0.21 0.07 0.16 0.12 0.13 - 0.03 0.23 0.11 11.28 10.80 11.00 + 0.39 17.05 9.40 8.72 8.21 8.35 - 0.12 12.80 7.00 0.04 0.04 0.04 unch 0.00 0.08 0.03 1.29 1.16 1.20 - 0.04 1.98 1.10 1.67 1.52 1.55 - 0.06 2.64 1.46 0.05 0.05 0.05 unch 0.00 0.16 0.03 0.05 0.03 0.05 + 0.00 0.18 0.03 0.07 0.06 0.07 unch 0.00 0.18 0.05 0.30 0.28 0.29 - 0.01 0.30 0.20 0.42 0.36 0.39 - 0.06 0.66 0.27 0.10 0.09 0.09 + 0.01 0.15 0.03 0.08 0.06 0.07 - 0.00 0.10 0.02 0.02 0.00 0.02 unch 0.00 0.03 0.01 0.12 0.11 0.11 - 0.02 0.14 0.08 0.09 0.07 0.09 + 0.00 0.11 0.06 0.42 0.36 0.40 + 0.01 0.54 0.23 0.55 0.45 0.52 unch 0.00 0.73 0.31 0.48 0.39 0.39 - 0.07 0.53 0.15 0.19 0.00 0.19 + 0.05 0.24 0.11 0.81 0.77 0.79 - 0.02 0.94 0.50 0.63 0.59 0.61 - 0.02 0.72 0.36 0.04 0.00 0.04 - 0.01 0.05 0.02 0.03 0.02 0.03 - 0.00 0.04 0.01 0.01 0.01 0.01 unch 0.00 0.01 0.01 0.08 0.07 0.07 + 0.02 0.13 0.04 0.10 0.00 0.10 + 0.02 0.18 0.06 0.12 0.09 0.10 - 0.02 0.24 0.07 0.09 0.07 0.07 - 0.02 0.30 0.05 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.14 0.00 0.12 - 0.02 0.26 0.11 0.19 0.16 0.16 - 0.03 0.35 0.14 0.05 0.03 0.05 + 0.02 0.08 0.02 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.00 0.00 0.00 unch 0.00 0.05 0.00 0.16 0.00 0.13 - 0.01 0.37 0.02 0.17 0.15 0.17 - 0.01 0.40 0.10 0.03 0.03 0.03 + 0.00 0.09 0.03 0.05 0.05 0.05 unch 0.00 0.14 0.04

N-O

12-15_JAN20_StockTables.indd 14

(100s) Stock

Week

(100s) Stock

12-month

Exc Volume High Low Last Change High Low

North Bay Res * O 25688 Northcliff Res T 44 Northern Light C 534 Northisle C&G * O 2 Northisle C&G V 589 Northway Res V 308 Norvista Cap V 400 NorZinc T 387 NorZinc* O 498 Nouveau Monde V 652 Nouveau Monde* O 239 NovaGold Res T 3233 NovaGold Res* X 14492 Novo Res* O 673 Novo Res V 839 NovX21* O 20 NRG Metals V 464 NRG Metals* O 423 V 231 Nrthn Graphite Nrthn Graphite* O 592 Nrthn Lion* O 0 Nrthn Lion V 0 10 Nrthn Mnrls &E* O Nrthn Shield V 1092 Nrthn Superior* O 90 Nrthn Superior V 208 Nrthn Vertex* O 76 Nrthn Vertex V 650 NSGold V 5 NSS Res Inc C 53 Nthn Dynasty T 1446 Nthn Dynasty* X 10541 Nthrn Sphere* O 0 Nubian Res V 1778 Nuinsco Res C 411 Nuinsco Res* O 112 NuLegacy Gold V 815 O 194 NuLegacy Gold* Nutrien* N 6739 Nutrien T 5511 NV Gold V 592 NV Gold* O 61 O.T. Mining* O 16 O3 Mining* O 54 O3 Mining V 74 OceanaGold* O 11 OceanaGold T 7649 243 Oceanic Iron O V Oceanic Iron O* O 10 Oceanus Res V 190 Oceanus Res* O 36 Olivut Res V 240 Olivut Res* O 74 Omineca Mining V 130 Omineca Mining* O 4 One World Lith C 327 One World Lith* O 98 Opawica Expl* O 0 Opawica Expl V 68 Opus One Res V 20 Orbite Tech* O 3 Orca Gold V 2283 Orca Gold* O 184 V 512 Orefinders Res Orestone Mng V 147 Orex Mnrls* O 76 Orex Mnrls V 223 O 358 Orezone Gold* Orezone Gold V 2295 Orford Mining V 201 OrganiMax* O 0 OrganiMax V 256 Origin Gold V 377 Orla Mng Ltd* O 17 Orla Mng Ltd T 1259 Oroco Res* O 248 Oroco Res V 630 Orocobre T 199 Oronova Energy* O 11 Oronova Energy V 66 Orosur Mng T 135 Orsu Metals V 217 Orsu Metals* O 0 Orvana Mnrls T 1405 Orvana Mnrls* O 124 Osino Res V 1668 Osisko Gold* N 5402 Osisko Gold T 2166 O 92 Osisko Metals* Osisko Metals V 769 Osisko Mng Inc T 4796 Osprey Gold V 442 Otis Gold V 275 Otis Gold* O 280 Otso Gold* O 88 Otso Gold V 1138 Outcrop Gold* O 27 Outcrop Gold V 769 OZ Minerals* O 5

0.00 0.00 0.00 unch 0.00 0.00 0.00 0.07 0.05 0.06 + 0.01 0.11 0.05 0.05 0.04 0.04 unch 0.00 0.07 0.02 0.05 0.03 0.05 + 0.01 0.07 0.03 0.07 0.05 0.07 + 0.01 0.12 0.01 0.10 0.09 0.09 unch 0.00 0.14 0.07 0.08 0.07 0.07 - 0.01 0.13 0.06 0.09 0.08 0.08 - 0.01 0.13 0.08 0.07 0.06 0.07 - 0.00 0.10 0.05 0.20 0.19 0.20 + 0.01 0.29 0.17 0.16 0.14 0.16 + 0.01 0.22 0.14 11.88 10.71 11.49 + 0.33 12.00 4.57 9.12 8.19 8.76 + 0.17 9.21 3.42 2.98 2.51 2.64 - 0.28 3.07 1.38 3.87 3.32 3.41 - 0.34 3.96 1.87 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.11 0.09 0.09 - 0.01 0.48 0.06 0.09 0.06 0.07 - 0.01 0.25 0.03 0.14 0.11 0.12 - 0.01 0.24 0.06 0.11 0.08 0.10 - 0.00 0.19 0.04 0.00 0.00 0.08 unch 0.00 0.08 0.08 0.00 0.00 0.12 unch 0.00 0.46 0.10 0.04 0.04 0.04 unch 0.00 0.12 0.03 0.10 0.09 0.09 - 0.01 0.12 0.04 0.12 0.09 0.12 + 0.01 0.22 0.05 0.15 0.13 0.14 + 0.01 0.32 0.07 0.25 0.20 0.22 - 0.00 0.27 0.12 0.30 0.28 0.29 unch 0.00 0.35 0.16 0.15 0.15 0.15 unch 0.00 0.15 0.06 0.08 0.00 0.07 - 0.01 0.18 0.03 0.62 0.52 0.53 - 0.07 1.47 0.50 0.47 0.40 0.42 - 0.04 1.12 0.38 0.04 0.04 0.04 unch 0.00 0.20 0.00 0.09 0.08 0.08 - 0.01 0.22 0.07 0.01 0.01 0.01 - 0.01 0.08 0.01 0.01 0.00 0.00 - 0.01 0.04 0.00 0.09 0.07 0.08 - 0.01 0.14 0.03 0.08 0.05 0.05 - 0.01 0.11 0.02 47.99 46.39 47.21 + 0.36 56.00 45.82 62.71 60.22 61.64 + 0.80 73.64 60.22 0.16 0.12 0.13 - 0.03 0.29 0.11 0.12 0.10 0.10 - 0.01 0.22 0.08 0.06 0.04 0.06 unch 0.00 0.11 0.04 2.20 2.00 2.12 - 0.03 2.29 1.71 2.85 2.58 2.78 + 0.02 4.00 2.00 2.01 1.83 1.84 - 0.24 3.64 1.68 2.69 2.43 2.54 + 0.02 4.80 2.12 0.14 0.12 0.12 unch 0.00 0.16 0.04 0.05 0.05 0.05 unch 0.00 0.07 0.04 0.09 0.07 0.09 + 0.02 0.13 0.04 0.07 0.06 0.07 + 0.01 0.09 0.04 0.06 0.05 0.06 unch 0.00 0.16 0.05 0.06 0.03 0.05 - 0.00 0.12 0.03 0.07 0.06 0.06 - 0.01 0.09 0.02 0.04 0.04 0.04 unch 0.00 0.07 0.01 0.09 0.07 0.08 - 0.02 0.28 0.07 0.07 0.00 0.06 - 0.03 0.22 0.05 0.00 0.00 0.04 unch 0.00 0.05 0.04 0.07 0.00 0.07 + 0.01 0.11 0.06 0.06 0.05 0.06 unch 0.00 0.08 0.01 0.00 0.00 0.00 + 0.00 0.17 0.00 0.33 0.30 0.33 - 0.01 0.55 0.30 0.25 0.23 0.25 - 0.01 0.40 0.22 0.06 0.05 0.06 + 0.01 0.08 0.03 0.09 0.07 0.07 - 0.01 0.25 0.06 0.09 0.00 0.08 - 0.02 0.11 0.03 0.12 0.10 0.10 - 0.03 0.14 0.05 0.49 0.37 0.38 - 0.10 0.67 0.30 0.62 0.49 0.51 - 0.11 0.88 0.39 0.05 0.04 0.04 - 0.01 0.15 0.04 0.00 0.00 0.05 unch 0.00 0.14 0.02 0.12 0.12 0.12 + 0.02 0.21 0.05 0.08 0.08 0.08 + 0.01 0.14 0.05 1.60 1.39 1.60 + 0.09 1.55 0.70 2.10 1.78 2.10 + 0.11 2.05 0.85 0.40 0.35 0.38 - 0.01 0.56 0.13 0.52 0.43 0.50 + 0.01 0.74 0.21 3.15 2.47 3.08 + 0.52 3.63 2.01 0.05 0.05 0.05 unch 0.00 0.06 0.05 0.06 0.06 0.06 unch 0.00 0.10 0.04 0.06 0.05 0.06 unch 0.00 0.13 0.04 0.26 0.26 0.26 unch 0.00 0.40 0.20 0.00 0.00 0.22 unch 0.00 0.30 0.13 0.21 0.17 0.19 + 0.03 0.41 0.12 0.15 0.14 0.15 + 0.02 0.30 0.09 0.87 0.68 0.83 + 0.14 1.07 0.26 9.93 9.19 9.39 - 0.25 13.43 8.34 12.90 12.01 12.27 - 0.23 17.47 11.00 0.34 0.33 0.34 + 0.01 0.54 0.29 0.46 0.43 0.45 + 0.02 0.72 0.38 4.04 3.68 3.81 - 0.10 4.19 2.49 0.06 0.05 0.06 unch 0.00 0.07 0.04 0.14 0.12 0.14 + 0.01 0.14 0.07 0.11 0.08 0.11 + 0.00 0.11 0.05 0.04 0.03 0.03 - 0.01 0.10 0.02 0.05 0.04 0.04 - 0.01 0.13 0.02 0.11 0.00 0.09 - 0.01 0.33 0.01 0.14 0.12 0.12 - 0.01 0.43 0.08 7.56 0.00 7.56 + 0.31 7.99 6.10

Pac Arc Res V 20 Pac Bay Mnrls V 18 23 Pac Booker Min* O Pac Booker Min V 56 Pac Imperial V 45 Pac Ridge Expl V 174 Pac Ridge Expl* O 65 Pac Wildcat* O 2 Pacific Empire V 258 Pacific Rim C 1712 Pacific Rim* O 49 Pacific Silk* O 5 Pacton Gold V 2085 Paladin Energy* O 658 Palamina Corp V 108 Palamina Corp* O 100 Paleo Resource V 22 O 14 Paleo Resource* Palladium One V 2588 O 145 Palladium One* Pan Am Silver* D 14794 Pan Am Silver T 3013 Pan Andean Min V 1667 Pan Global Res V 309 Pancontinental V 236 O 69 Pancontinental* Panex Res* O 18 Pangolin Dia V 596 Panoro Mnrls V 839 Pantheon Vent V 163 Para Resources V 304 Parallel Mng V 30 Paramount Gold* X 123 Parlane Res V 75 Pasinex Res C 100 Pasofino Gold V 362 Patriot Gold* O 454 Peabody Enrgy* N 9537 Pelangio Expl* O 48 Pelangio Expl V 145 Peloton Mnrls C 59 Peloton Mnrls* O 40 PepinNini Lith* O 11769 Perseus Mng T 457 Pershimex Res V 182 Pershing Res* O 443 Peruvian Metal* O 0 Peruvian Metal V 467 Philex Mng* O 174 Pike Mountain C 50 Pine Cliff En T 693 Pine Cliff En* O 449 Pinecrest Res V 183 Pistol Bay Mng V 870 Pistol Bay Mng* O 0 Pivit Explor C 446 PJSC Polyus Gd* O 1 PJX Res V 127 Plata Latina V 20 Plate Res V 95 Plateau Energy V 91 Plateau Energy* O 6 Platinex Inc* O 20 Platinex Inc C 2555 Platinum Gp Mt T 103

0.23 0.21 0.21 unch 0.00 0.39 0.20 0.09 0.06 0.09 + 0.03 0.14 0.06 1.61 1.44 1.44 - 0.06 3.10 0.90 2.10 1.80 1.81 - 0.19 4.10 1.21 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.05 0.04 0.04 - 0.01 0.06 0.03 0.03 0.03 0.03 unch 0.00 0.05 0.03 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.05 0.04 0.05 unch 0.00 0.10 0.02 0.16 0.14 0.16 + 0.03 0.34 0.11 0.12 0.10 0.11 + 0.02 0.26 0.08 0.02 0.02 0.02 unch 0.00 0.02 0.01 0.16 0.12 0.13 - 0.03 0.31 0.10 0.08 0.06 0.07 + 0.00 0.15 0.06 0.28 0.22 0.25 - 0.01 0.38 0.17 0.22 0.19 0.19 + 0.01 0.28 0.14 0.04 0.04 0.04 - 0.01 0.10 0.01 0.04 0.00 0.04 unch 0.00 0.07 0.00 0.20 0.18 0.18 - 0.02 0.21 0.05 0.15 0.13 0.14 - 0.01 0.16 0.02 23.97 21.93 22.56 - 0.92 24.02 10.26 31.10 28.72 29.44 - 1.04 31.23 13.83 0.10 0.08 0.09 - 0.01 0.10 0.03 0.14 0.13 0.14 unch 0.00 0.16 0.06 0.03 0.02 0.03 + 0.01 0.05 0.02 0.03 0.01 0.02 + 0.01 0.04 0.01 0.00 0.00 0.00 + 0.00 0.01 0.00 0.04 0.04 0.04 unch 0.00 0.10 0.03 0.10 0.08 0.09 - 0.01 0.24 0.07 0.05 0.04 0.05 unch 0.00 0.10 0.04 0.12 0.11 0.11 - 0.01 0.22 0.11 0.14 0.12 0.14 + 0.03 0.90 0.10 0.81 0.75 0.77 - 0.01 1.04 0.64 0.05 0.04 0.04 - 0.01 0.20 0.03 0.02 0.02 0.02 unch 0.00 0.12 0.02 0.12 0.08 0.08 - 0.01 0.24 0.07 0.05 0.04 0.05 + 0.01 0.15 0.03 10.25 8.50 8.62 - 1.42 37.37 8.50 0.13 0.12 0.12 unch 0.00 0.29 0.09 0.18 0.14 0.14 - 0.02 0.38 0.12 0.10 0.09 0.09 - 0.01 0.13 0.07 0.07 0.07 0.07 + 0.00 0.11 0.05 0.00 0.00 0.00 unch 0.00 0.01 0.00 1.04 0.94 0.96 - 0.06 1.06 0.33 0.05 0.05 0.05 - 0.01 0.06 0.03 0.02 0.01 0.01 - 0.00 0.06 0.00 0.00 0.00 0.02 unch 0.00 0.04 0.01 0.04 0.03 0.04 + 0.01 0.05 0.03 0.03 0.03 0.03 - 0.05 0.10 0.00 0.10 0.08 0.08 - 0.02 0.15 0.08 0.17 0.14 0.15 unch 0.00 0.28 0.10 0.13 0.10 0.13 + 0.03 0.21 0.07 0.20 0.16 0.20 + 0.04 0.27 0.16 0.04 0.03 0.03 unch 0.00 0.07 0.02 0.00 0.00 0.01 unch 0.00 0.05 0.01 0.24 0.17 0.20 - 0.07 0.64 0.06 60.50 0.00 60.50 + 3.90 60.99 37.19 0.17 0.14 0.16 - 0.01 0.36 0.10 0.04 0.04 0.04 unch 0.00 0.06 0.02 0.14 0.09 0.09 - 0.05 0.16 0.03 0.26 0.23 0.26 + 0.02 0.78 0.17 0.17 0.00 0.17 - 0.00 0.65 0.08 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.03 0.01 0.03 + 0.02 0.07 0.01 2.38 2.20 2.32 + 0.02 2.91 1.36

P-Q

Week

12-month

Exc Volume High Low Last Change High Low

Platinum Gp Mt* X 702 Plato Gold V 807 Playfair Mng V 250 Playfair Mng* O 21 PolyMet Mng* X 17779 PolyMet Mng T 324 Portage Res* O 360 Portofino Res V 234 O 85 Portofino Res* Potash Ridge* O 94 Potash Ridge T 1318 Power Group V 8 O 4 Power Group* O 180 Power Metals* Power Metals V 341 PowerOre V 195 PPX Mining* O 180 PPX Mining V 104 Precipitate Gl V 1522 Precipitate Gl* O 645 Premier Gold M T 5476 O 2 Premium Expl* Pretium Res* N 7237 Pretium Res T 2345 Primary Energy C 4127 Prime Meridian V 296 Prism Res V 20 ProAm Expl V 20 Probe Metals* O 331 Probe Metals V 402 Prog Planet V 16 Prog Planet* O 0 Promithian Gl * O 10 O 1154 Prophecy Coal* Prophecy Coal T 2872 Prophecy Pot C 18 Prosper Gold V 657 Prospero Silvr V 4226 Prospero Silvr* O 1183 Provenance Gld C 59 Providence V 298 Providence Gld* O 98 PUF Vent Inc * O 9830 Puma Expl* O 1 Puma Expl V 178 O 8 Pure Alumina* Pure Energy* O 748 Pure Energy V 2912 Pure Gold Mg* O 1993 Pure Gold Mg V 2812 Purepoint Uran V 346 Q-Gold Res V 32 QC Precious V 390 QC Precious * O 21 QMC Quantum Ml V 1096 QMC Quantum Ml* O 718 QMX Gold* O 197 QMX Gold V 2076 Quadro Res V 178 Quantum Cobalt C 94 Quartz Mtn Res V 5 Quartz Mtn Res* O 0 Quaterra Res V 308 Quaterra Res* O 157 Quest Rare Mnl* O 1397 Quinto Res V 342

1.81 1.67 1.78 + 0.03 2.17 1.04 0.03 0.03 0.03 unch 0.00 0.04 0.01 0.05 0.04 0.04 - 0.01 0.07 0.03 0.03 0.00 0.03 + 0.01 0.05 0.02 0.54 0.25 0.42 + 0.16 0.91 0.23 0.68 0.34 0.55 + 0.22 1.22 0.30 0.00 0.00 0.00 - 0.00 0.00 0.00 0.05 0.04 0.05 + 0.01 0.13 0.02 0.02 0.02 0.02 unch 0.00 0.03 0.02 0.02 0.00 0.02 + 0.00 0.08 0.01 0.03 0.03 0.03 + 0.01 0.11 0.02 0.08 0.00 0.08 + 0.01 0.25 0.06 0.06 0.06 0.06 - 0.00 0.18 0.01 0.06 0.05 0.05 - 0.00 0.17 0.03 0.07 0.06 0.07 + 0.00 0.22 0.04 0.09 0.00 0.08 + 0.01 0.14 0.05 0.04 0.04 0.04 + 0.00 0.07 0.03 0.06 0.06 0.06 unch 0.00 0.09 0.05 0.28 0.24 0.25 + 0.01 0.28 0.08 0.22 0.18 0.19 + 0.01 0.22 0.05 1.92 1.60 1.76 - 0.13 2.55 1.41 0.00 0.00 0.00 + 0.00 0.01 0.00 11.24 10.63 10.88 - 0.08 13.83 6.65 14.62 13.88 14.21 - 0.01 18.30 8.85 0.73 0.50 0.58 - 0.01 0.73 0.08 0.09 0.06 0.09 unch 0.00 0.16 0.04 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.07 0.07 0.07 unch 0.00 0.12 0.05 0.96 0.81 0.90 - 0.01 1.16 0.69 1.20 1.06 1.18 - 0.03 1.53 0.90 0.06 0.00 0.06 unch 0.00 0.18 0.05 0.00 0.00 0.01 unch 0.00 0.04 0.01 4.22 3.00 4.05 - 0.15 6.30 0.02 0.38 0.29 0.35 + 0.05 0.43 0.11 0.50 0.38 0.46 + 0.08 0.55 0.15 0.10 0.05 0.10 - 0.05 0.19 0.01 0.06 0.04 0.05 - 0.01 0.18 0.04 0.03 0.01 0.02 - 0.01 0.11 0.01 0.03 0.01 0.01 - 0.02 0.08 0.02 0.14 0.09 0.14 + 0.01 0.23 0.09 0.12 0.10 0.11 - 0.01 0.20 0.08 0.10 0.07 0.09 - 0.01 0.16 0.06 0.08 0.06 0.06 - 0.02 0.64 0.06 0.10 0.10 0.10 unch 0.00 0.32 0.05 0.15 0.13 0.14 + 0.01 0.50 0.10 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.04 0.02 0.03 + 0.00 0.13 0.02 0.06 0.04 0.05 + 0.01 0.18 0.04 0.68 0.58 0.60 - 0.06 0.68 0.36 0.87 0.77 0.78 - 0.07 0.88 0.49 0.06 0.06 0.06 - 0.01 0.11 0.05 0.19 0.19 0.19 + 0.01 0.30 0.14 0.34 0.25 0.33 + 0.07 0.40 0.21 0.25 0.19 0.25 + 0.04 0.31 0.16 0.13 0.08 0.13 + 0.05 0.37 0.07 0.10 0.06 0.10 + 0.04 0.29 0.05 0.08 0.06 0.07 - 0.00 0.08 0.03 0.09 0.08 0.09 - 0.01 0.11 0.04 0.06 0.04 0.05 - 0.01 0.06 0.02 0.03 0.02 0.02 - 0.01 0.10 0.01 0.17 0.17 0.17 unch 0.00 0.35 0.15 0.00 0.00 0.13 unch 0.00 0.24 0.13 0.07 0.06 0.07 - 0.01 0.13 0.06 0.06 0.00 0.05 + 0.00 0.10 0.04 0.04 0.02 0.02 - 0.02 0.06 0.00 0.05 0.04 0.05 - 0.01 0.09 0.04

R Rackla Metals* O 1 0.08 0.00 0.08 + 0.00 0.12 0.00 Rackla Metals V 19 0.15 0.00 0.15 + 0.05 0.20 0.08 Radisson Mng V 1005 0.24 0.20 0.20 - 0.04 0.24 0.10 Radius Gold V 242 0.26 0.24 0.25 + 0.01 0.47 0.09 Rae-Wallace Mg* O 122 0.02 0.01 0.01 - 0.01 0.02 0.00 Rain City C 445 0.08 0.08 0.08 unch 0.00 0.15 0.04 Rainforest Res* O 57 4.00 2.41 3.00 - 0.70 7.60 1.56 82 0.09 0.00 0.09 unch 0.00 0.40 0.07 Rainy Mtn Royl V Rainy Mtn Royl* O 11 0.07 0.00 0.07 + 0.00 0.17 0.06 Rambler Metals* O 1 0.01 0.00 0.01 - 0.02 0.04 0.00 Rare Element* O 1994 0.87 0.56 0.64 - 0.23 0.96 0.05 Rathdowney Res V 570 0.10 0.10 0.10 unch 0.00 0.13 0.03 Ravencrest Res C 1207 0.12 0.10 0.12 + 0.01 0.75 0.09 Red Eagle Mng* O 10 0.00 0.00 0.00 unch 0.00 0.01 0.00 Red Moon Res V 17 0.12 0.00 0.10 - 0.01 0.24 0.01 Red Oak Mining V 21 0.15 0.00 0.12 + 0.08 0.28 0.04 Red Pine Expl V 578 0.05 0.04 0.05 unch 0.00 0.08 0.03 Redstar Gold V 984 0.03 0.02 0.02 - 0.01 0.04 0.02 Redstar Gold* O 157 0.02 0.02 0.02 + 0.00 0.04 0.01 Regis Res NL* O 35 3.11 3.00 3.05 - 0.03 4.61 2.75 Regulus Res V 329 1.33 1.18 1.32 + 0.06 2.00 1.02 Remington Res V 25 0.15 0.15 0.15 unch 0.00 0.20 0.12 Renaissance Gd* O 320 0.27 0.23 0.24 - 0.02 0.33 0.12 Renaissance Gd V 411 0.34 0.29 0.32 - 0.02 0.43 0.17 Renforth Res C 913 0.05 0.04 0.05 + 0.01 0.06 0.04 Resolve Vent V 85 0.15 0.14 0.15 - 0.01 0.16 0.06 Reunion Gold V 571 0.17 0.13 0.14 - 0.03 0.34 0.11 Reunion Gold* O 100 0.13 0.11 0.11 - 0.02 0.25 0.08 Revelo Res V 810 0.01 0.01 0.01 unch 0.00 0.03 0.01 Revival Gold * O 567 0.49 0.39 0.42 - 0.07 0.67 0.32 Revival Gold V 516 0.64 0.51 0.57 - 0.07 0.87 0.43 Ridgestone M’g V 40 0.21 0.19 0.21 + 0.02 0.27 0.15 Riley Resource V 15 0.13 0.13 0.13 unch 0.00 0.21 0.11 Rimrock Gold* O 25103 0.00 0.00 0.00 - 0.00 0.00 0.00 Rio Silver V 1508 0.06 0.00 0.05 + 0.02 0.06 0.03 Rio Silver* O 28 0.04 0.03 0.03 - 0.00 0.04 0.02 Rio Tinto* N 7420 59.30 58.06 58.45 - 0.39 64.02 47.88 Rio Tinto* O 2 58.85 0.00 57.95 - 0.15 62.00 48.15 Rio Tinto* O 3 68.57 67.82 67.82 - 0.62 74.50 53.92 Rio2 Limited* O 865 0.38 0.29 0.33 - 0.02 0.52 0.23 Rio2 Limited V 2126 0.47 0.39 0.42 - 0.04 0.70 0.30 Rise Gold Corp C 364 0.92 0.74 0.85 + 0.13 1.15 0.40 Riverside Res* O 707 0.12 0.11 0.11 + 0.00 0.17 0.09 Riverside Res V 393 0.16 0.14 0.16 + 0.02 0.22 0.13 RJK Explor* O 11 0.18 0.15 0.15 - 0.02 0.18 0.03 RJK Explor V 90 0.22 0.20 0.21 + 0.01 0.22 0.04 RNC Minerals T 6712 0.51 0.46 0.47 - 0.02 0.79 0.33 RNC Minerals* O 1541 0.40 0.35 0.36 - 0.02 0.59 0.25 Robex Res V 255 0.16 0.15 0.16 + 0.01 0.16 0.06 Rochester Res V 14 0.06 0.00 0.05 unch 0.00 0.06 0.03 Rochester Res* O 0 0.00 0.00 0.03 unch 0.00 0.04 0.02 Rock Tech Lith V 24 0.50 0.00 0.50 - 0.03 0.99 0.45 0.09 0.07 0.08 unch 0.00 0.19 0.06 Rockcliff Met C 698 Rockcliff Met* O 833 0.05 0.05 0.05 unch 0.00 0.14 0.02 Rockex Mng C 100 0.02 0.02 0.02 unch 0.00 0.05 0.01 Rockhaven Res V 328 0.15 0.13 0.13 - 0.02 0.19 0.10 Rockridge Res V 740 0.20 0.18 0.20 + 0.03 0.39 0.13 Rockshield Cap* O 263 0.03 0.03 0.03 unch 0.00 0.09 0.02 Rockwell Diam* O 2 0.00 0.00 0.00 unch 0.00 0.00 0.00 Rodinia Lithm V 147 0.04 0.00 0.04 - 0.01 0.07 0.03 Rogue Res* O 48 0.06 0.06 0.06 + 0.01 0.10 0.04 Rogue Res V 112 0.08 0.07 0.07 - 0.01 0.13 0.05 Rokmaster Res V 131 0.08 0.07 0.07 - 0.02 0.13 0.03 Romios Gold Rs* O 2373 0.03 0.02 0.02 - 0.01 0.05 0.01 Romios Gold Rs V 450 0.04 0.03 0.03 - 0.01 0.07 0.02 RosCan Gold* O 215 0.11 0.08 0.08 - 0.02 0.23 0.05 RosCan Gold V 466 0.13 0.12 0.12 - 0.01 0.33 0.06 Ross River* O 0 0.00 0.00 0.00 unch 0.00 0.00 0.00 Rover Metals* O 25 0.06 0.06 0.06 unch 0.00 2.01 0.02 Roxgold* O 246 0.81 0.72 0.73 - 0.04 1.07 0.56 Roxgold T 2339 1.06 0.94 0.96 - 0.03 1.42 0.72 Royal Gold* O 3 0.37 0.00 0.37 + 0.01 0.39 0.02 Royal Gold V 38 0.49 0.42 0.47 - 0.01 0.60 0.10 Royal Gold* D 4138 122.50 110.40 113.79 - 6.34 138.78 80.65 Royal Mines &M* O 32 0.00 0.00 0.00 unch 0.00 0.01 0.00 Royal Rd Mnrls V 134 0.30 0.27 0.29 - 0.01 0.35 0.07 Royal Std Mnrl* O 0 0.05 0.00 0.05 unch 0.00 2.50 0.01 RT Minerals V 35 0.04 0.03 0.03 - 0.01 0.10 0.03 RTG Mining T 68 0.10 0.00 0.10 + 0.02 0.16 0.07 RTG Mining * O 2 0.07 0.07 0.07 - 0.00 0.11 0.05 Rubicon Mnrls T 3771 1.13 0.97 1.10 unch 0.00 1.34 0.61 Rubicon Mnrls* O 176 0.85 0.75 0.83 + 0.00 1.03 0.46 Rugby Mng V 103 0.15 0.13 0.15 - 0.01 0.26 0.07 Running Fox Rs* O 1 0.01 0.01 0.01 unch 0.00 0.01 0.01 Running Fox Rs V 301 0.01 0.00 0.01 unch 0.00 0.03 0.01 Rupert Res V 125 0.71 0.65 0.65 - 0.05 1.08 0.65 Rusoro Mng* O 16 0.05 0.04 0.05 - 0.00 0.12 0.03 Rusoro Mng V 265 0.07 0.06 0.07 unch 0.00 0.16 0.04

S Sabina Gd&Slvr T 2160 Sabina Gd&Slvr* O 1070 Sable Res* O 66 Sable Res V 1609 Sailfish Rylty V 141 Salazar Res* O 40 Salazar Res V 197 Salt Lake Pot* O 0 Sama Res V 790 Sama Res* O 466 Samex Mng* O 29 San Gold Corp* O 286 San Marco Res* O 11

1.90 1.63 1.79 - 0.05 2.28 0.99 1.49 1.25 1.38 - 0.04 1.72 0.73 0.10 0.06 0.10 + 0.04 0.17 0.06 0.13 0.09 0.12 + 0.03 0.22 0.08 0.94 0.79 0.81 - 0.09 1.81 0.66 0.15 0.15 0.15 + 0.00 0.16 0.08 0.20 0.18 0.18 - 0.01 0.22 0.11 0.00 0.00 0.56 unch 0.00 0.59 0.32 0.26 0.22 0.25 - 0.01 0.44 0.16 0.21 0.17 0.18 - 0.03 0.33 0.12 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.14 0.14 0.14 + 0.04 0.32 0.06

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

136 San Marco Res V Sanatana Res V 4263 O 39 Sanatana Res* Sandfire Res V 124 Sandfire Res* O 257 O 140 Sandspring Res* T 3669 Sandstorm Gold 12478 X Sandstorm Gold* Santa Fe Gold* O 925 V 1170 Santacruz Silv Sarama Res V 993 Sarissa Res* O 528 Satori Res V 61 Satori Res* O 5 Saturn Mnrls V 890 Saville Res V 262 481 Scandium Intl T O 142 Scandium Intl* Scorpio Gold V 182 Scorpio Gold * O 129 Scotch Creek C 9 Scottie Res* O 465 Scottie Res V 4564 ScoZinc Mg* O 6 ScoZinc Mg V 33 Seabridge Gld T 407 Seabridge Gld* N 2287 Seafield Res* O 5 Search Mnls* O 1 Search Mnls V 414 Searchlight* O 15 O 18 SearchlightMin* V 143 SearchlightRes Secova Mtls* O 0 Secova Mtls V 18 Sego Res V 207 Select Sands V 156 T 5077 Semafo Serabi Gold T 10 Serabi Gold* O 0 Serengeti Res V 290 O 5 Shear Diamonds* Sherritt Intl T 2293 V 72 Shine Minerals Sibanye-Stillw* N 26638 O 6 Sibanye-Stillw* O 2113 Sidney Resrces* Sienna Res* O 23 Sienna Res V 437 Sierra Madre V 8 Sierra Metals T 106 Sierra Metals* X 158 V 7 Sigma Lithium O 12 Signature Res* Signature Res V 99 26 Silver Bear Rs* O 195 Silver Bear Rs T Silver Bull Re* O 633 213 Silver Bull Re T Silver Grail V 477 13 Silver Mtn Mns* O 171 Silver Mtn Mns V O 0 Silver Predatr* Silver Predatr V 10 Silver Range* O 30 Silver Range V 56 Silver Scott* O 171 O 185 Silver Spruce* Silver Spruce V 661 O 0 Silver Stream* Silver Viper V 64 T 3166 Silvercorp Met X 8377 Silvercorp Met* SilverCrest* X 3585 SilverCrest T 2178 O 0 Silverore Mns* O 0 Silverstar Res* Sirios Res* O 5 Sirios Res V 465 Sitka Gold C 379 Sitka Gold* O 64 Sixty North C 483 Sixty North* O 252 Skeena Res V 2770 Skeena Res* O 2208 Sky Gold V 218 Sky Gold* O 0 V 519 Skyharbour Res O 396 Skyharbour Res* Slam Explor* O 151 Slam Explor V 270 Sokoman Min V 1090 O 223 Sokoman Min* SolGold plc T 186 SolGold plc* O 468 X 285 Solitario Ex&R* T 11 Solitario Ex&R Solstice Gold V 373 O 106 Sonoro Metals* V 84 Sonoro Metals South32* O 4 Southern Arc* O 19 Southern Arc V 51 N 3090 Southern Copp* O 485 Southern Silvr* Southern Silvr V 786 T 10 SouthGobi Res 673 Spanish Mtn Gd V Spanish Mtn Gd* O 675 Sparton Res V 190 Sparton Res* O 36 O 93 Spearmint Res* C 4760 Spearmint Res C 983 Spey Resources Sphinx Res V 526 55 Sprott Res Hld T 29 Spruce Ridge R V SRG Mining V 42 SSR Mining* D 7045 SSR Mining T 1542 St Augustine T 1378 C 526 St-Georges Eco O 354 St-Georges Eco* V 53 Stakeholdr Gld O 0 Stakeholdr Gld* O 1243 Standard Graph* Standard Lith V 551 O 53 Standard Metal* Stans Energy V 1828 O 92 Stans Energy* O 199 Star Diamond* Star Diamond T 2788 Star Gold* O 142 Starcore Intl T 181 18 Starr Peak Exp V O 1 Steele Oceanic* Stellar Africa* O 0 Stellar Africa V 598 Stelmine Can V 16 Steppe Gold T 95 O 5580 Stornoway Diam* Stratabd Mnr V 83 Strateco Res* O 740 O 78 Strategic Metl* Strategic Metl V 383 Strategic Res V 148 O 1 Strategic Res* Stria Lithium V 2007 V 762 Strikepoint Gd O 27 Strikepoint Gd* V 107 Strongbow Expl O 70 Strongbow Expl* Stroud Res V 104 Stuhini Explor V 128 Sulliden Mng T 477 Sun Metals V 867 Suncor Energy T 18191 N 23409 Suncor Energy* O 116 Superior Gold* Superior Gold V 195 Superior Mng V 130 C 186 Supreme Metals 92 Surge Copper * O Surge Copper V 61 Surge Explor* O 6186 Surge Explor V 6199 Sutter Gold* O 111 Syrah Res* O 137

0.21 0.16 0.18 + 0.01 0.45 0.09 0.01 0.02 0.02 0.02 - 0.01 0.06 0.01 0.01 0.01 0.01 - 0.00 0.04 0.06 0.26 0.00 0.25 + 0.05 0.40 0.05 0.20 0.15 0.19 + 0.03 0.31 0.85 1.97 1.67 1.79 - 0.16 2.72 5.85 9.80 8.80 9.00 - 0.55 9.89 4.40 7.55 6.72 6.88 - 0.46 7.67 0.09 0.07 0.08 - 0.01 0.14 0.04 0.05 0.17 0.14 0.14 - 0.02 0.20 0.05 0.08 0.07 0.07 - 0.01 0.12 0.00 0.00 0.00 0.00 + 0.00 0.00 0.01 unch 0.00 0.10 0.06 0.06 0.06 0.03 unch 0.00 0.07 0.03 0.03 0.03 0.09 unch 0.00 0.20 0.17 0.15 0.15 0.02 unch 0.00 0.06 0.04 0.03 0.03 0.10 0.08 0.08 - 0.02 0.20 0.08 0.05 0.08 0.06 0.07 - 0.01 0.15 0.02 0.12 0.00 0.11 - 0.01 0.16 0.09 0.08 0.08 - 0.01 0.11 0.01 0.06 unch 0.00 0.13 0.08 0.08 0.08 0.10 0.23 0.16 0.21 + 0.04 0.21 0.08 0.30 0.20 0.26 + 0.05 0.30 0.26 0.54 0.39 0.54 + 0.15 0.59 0.34 0.90 0.00 0.72 + 0.17 0.90 14.74 18.36 16.32 17.25 - 0.30 21.98 10.95 14.19 12.45 13.18 - 0.30 16.55 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.02 unch 0.00 0.04 0.04 0.04 0.04 0.04 0.06 0.05 0.06 + 0.02 0.06 0.00 0.03 0.02 0.03 + 0.00 0.10 0.01 0.02 0.01 0.02 + 0.01 0.07 0.02 0.04 0.03 0.03 - 0.01 0.05 0.01 unch 0.00 0.04 0.00 0.00 0.03 0.02 unch 0.00 0.06 0.05 0.05 0.05 0.03 unch 0.00 0.06 0.06 0.00 0.06 0.01 0.03 0.02 0.03 + 0.01 0.14 2.36 2.75 2.48 2.57 - 0.08 5.75 0.45 1.32 1.22 1.32 + 0.10 1.49 0.62 unch 0.00 1.08 0.00 0.00 0.90 0.15 unch 0.00 0.40 0.19 0.18 0.19 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.17 unch 0.00 0.53 0.22 0.19 0.20 0.01 unch 0.00 0.08 0.03 0.03 0.03 10.49 9.75 9.89 - 0.17 10.49 2.64 0.72 2.70 0.00 2.40 - 0.25 2.70 0.00 0.03 0.02 0.03 - 0.00 0.04 0.02 0.03 0.02 0.02 - 0.00 0.06 0.03 0.05 0.04 0.05 + 0.01 0.07 0.04 unch 0.00 0.15 0.04 0.04 0.04 1.33 2.40 2.17 2.27 + 0.01 2.76 1.01 1.88 1.68 1.73 - 0.02 2.15 1.59 1.94 0.00 1.89 - 0.06 2.05 0.03 0.05 0.04 0.05 - 0.01 0.07 0.04 0.06 0.05 0.05 - 0.02 0.09 0.11 0.10 0.11 unch 0.00 0.18 0.07 0.15 0.13 0.15 - 0.01 0.25 0.10 0.08 0.07 0.07 + 0.00 0.14 0.06 0.10 0.09 0.09 - 0.01 0.19 0.08 0.02 0.11 0.07 0.11 + 0.04 0.12 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.04 unch 0.00 0.12 0.00 0.00 0.06 0.06 0.09 0.09 0.09 - 0.02 0.17 0.05 unch 0.00 0.11 0.07 0.07 0.07 0.07 0.11 0.00 0.10 - 0.01 0.15 0.01 0.04 0.03 0.04 - 0.01 0.07 0.01 0.04 0.03 0.03 - 0.00 0.05 0.02 0.05 0.04 0.04 - 0.01 0.07 7.10 unch 0.00 8.00 8.00 8.00 8.00 0.08 0.31 0.28 0.29 - 0.02 0.38 2.61 7.50 6.87 7.18 - 0.13 7.69 1.96 5.85 5.25 5.49 - 0.16 5.93 2.88 7.10 6.16 6.37 - 0.39 7.94 3.85 9.16 8.05 8.32 - 0.50 9.75 0.02 unch 0.00 0.03 0.00 0.00 0.02 0.01 0.09 0.00 0.09 + 0.07 0.14 0.11 0.13 0.00 0.13 + 0.00 0.20 0.15 0.17 0.15 0.16 - 0.02 0.28 0.08 0.24 0.20 0.21 - 0.01 0.26 0.10 0.18 0.16 0.17 - 0.01 0.18 0.03 0.05 0.04 0.04 - 0.01 0.10 0.02 0.04 0.02 0.03 - 0.01 0.05 0.27 0.96 0.76 0.83 + 0.10 0.96 0.19 0.74 0.58 0.65 + 0.08 0.74 0.05 0.10 0.08 0.10 + 0.01 0.70 0.04 unch 0.00 0.71 0.00 0.00 0.06 0.15 0.18 0.16 0.16 - 0.01 0.44 0.11 0.14 0.12 0.13 - 0.00 0.33 0.01 0.01 0.01 0.01 - 0.00 0.02 0.01 unch 0.00 0.03 0.02 0.02 0.02 0.04 0.11 0.09 0.10 - 0.01 0.23 0.04 0.09 0.00 0.08 - 0.00 0.18 0.28 0.42 0.34 0.35 - 0.02 0.76 0.21 0.31 0.26 0.27 - 0.02 0.56 0.26 0.31 0.30 0.31 + 0.01 0.54 0.34 0.40 0.39 0.39 - 0.01 0.59 0.05 0.11 0.09 0.10 + 0.03 0.27 0.09 0.10 0.10 0.10 + 0.00 0.15 0.12 0.15 0.13 0.13 - 0.01 0.20 1.59 1.89 1.87 1.89 + 0.03 2.86 0.23 0.28 0.00 0.28 + 0.01 0.47 0.30 0.40 0.00 0.39 + 0.03 0.62 29.39 43.21 41.12 42.99 + 1.44 43.38 0.10 0.20 0.16 0.19 - 0.02 0.23 0.14 0.26 0.21 0.24 - 0.01 0.31 0.07 0.10 0.10 0.10 + 0.01 0.18 0.11 0.10 0.10 - 0.01 0.14 0.05 0.09 0.07 0.08 + 0.01 0.11 0.04 0.02 unch 0.00 0.08 0.03 0.03 0.03 0.01 0.02 0.02 0.02 + 0.00 0.05 0.00 unch 0.00 0.08 0.02 0.01 0.02 0.01 0.03 0.01 0.02 + 0.01 0.04 0.03 0.04 0.03 0.04 + 0.01 0.11 0.01 0.03 0.02 0.02 - 0.01 0.06 0.76 0.71 0.73 - 0.03 1.77 0.66 0.06 0.05 0.06 + 0.01 0.13 0.04 0.67 0.79 0.69 0.69 - 0.10 1.15 10.59 19.01 17.68 18.04 - 0.48 19.42 14.23 24.59 23.09 23.51 - 0.54 25.33 0.02 0.02 0.02 0.02 + 0.01 0.03 0.06 0.10 0.08 0.08 - 0.03 0.25 0.04 unch 0.00 0.17 0.07 0.07 0.07 0.02 0.05 0.04 0.04 - 0.01 0.08 0.01 unch 0.00 0.05 0.00 0.00 0.03 0.10 0.19 0.12 0.16 + 0.03 0.65 0.53 0.93 0.80 0.91 + 0.09 1.44 0.02 0.08 0.04 0.08 + 0.01 0.09 0.01 0.02 0.01 0.01 - 0.01 0.11 0.00 0.01 0.00 0.01 - 0.01 0.08 0.14 0.39 0.31 0.37 + 0.06 0.33 0.18 0.51 0.39 0.50 + 0.09 0.43 0.02 0.06 0.05 0.05 + 0.01 0.09 0.05 0.11 0.08 0.09 - 0.01 0.16 0.35 0.33 0.33 - 0.05 0.48 0.09 0.40 unch 0.00 1.00 0.40 0.40 0.40 0.01 unch 0.00 0.03 0.00 0.00 0.02 0.01 0.04 0.03 0.03 - 0.01 0.04 0.08 0.09 0.08 0.08 - 0.01 0.17 0.59 unch 0.00 1.14 0.90 0.87 0.90 0.00 0.00 0.00 0.00 - 0.00 0.16 0.02 0.12 0.00 0.11 - 0.01 0.18 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.21 0.40 0.36 0.38 + 0.00 0.43 0.28 unch 0.00 0.57 0.53 0.46 0.52 0.23 0.33 0.27 0.31 + 0.01 0.70 0.16 unch 0.00 0.46 0.21 0.00 0.21 0.01 0.02 0.01 0.01 + 0.01 0.04 0.04 0.05 0.00 0.05 - 0.01 0.17 0.03 0.04 0.03 0.04 + 0.00 0.12 0.03 0.06 0.05 0.05 - 0.01 0.15 0.02 0.05 0.04 0.05 + 0.01 0.10 0.05 0.30 0.23 0.24 - 0.01 0.37 0.19 unch 0.00 0.35 0.30 0.24 0.24 0.03 0.06 0.05 0.06 + 0.01 0.12 0.18 0.23 0.20 0.21 - 0.03 0.65 36.32 45.03 42.77 44.79 + 2.16 46.50 27.28 34.50 32.93 34.28 + 1.46 34.87 0.28 0.56 0.51 0.53 + 0.02 0.84 0.38 0.75 0.67 0.70 + 0.03 1.14 0.05 unch 0.00 0.24 0.23 0.20 0.20 0.01 unch 0.00 0.03 0.01 0.01 0.01 0.04 0.03 0.03 - 0.01 0.06 0.03 0.03 unch 0.00 0.08 0.05 0.05 0.05 0.01 0.02 0.01 0.02 - 0.00 0.08 0.02 0.03 0.02 0.02 - 0.01 0.10 0.00 0.01 0.00 0.00 - 0.00 0.01 0.24 0.41 0.35 0.38 + 0.01 1.50

T 0.06 Taiga Gold C 151 0.11 0.10 0.10 - 0.02 0.14 0.04 Taiga Gold* O 232 0.08 0.06 0.07 + 0.01 0.10

2020-01-13 4:47 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / JANUARY 20–FEBRUARY 2, 2020

Week

12-month

Exc Volume High Low Last Change High Low

Tajiri Res V 962 Taku Gold* O 11 Taku Gold C 61 Talisker Res* O 95 Talisker Res C 1701 Talon Metals T 1254 Tamerlane Vent* O 38 Tamino Mnrls* O 4822 V 179 Tanqueray Expl Tantalex Res C 778 Tanzanian Gold* X 1562 Tanzanian Gold T 112 Taranis Res V 29 Taranis Res* O 14 Tarku Res V 1317 Tartisan Nick* O 25 Tartisan Nick C 65 Taseko Mines T 1155 X 2639 Taseko Mines* Tearlach Res V 15 Teck Res T 6621 Teck Res T 25 Teck Res* N 15037 Tectonic Metal V 76 Telson Res * O 275 Telson Res V 245 Tembo Gold V 1263 Tembo Gold* O 63 Teranga Gold T 2587 Teranga Gold* O 404 Teras Res V 541 Teras Res* O 5 Terrax Mnrls V 385 Terrax Mnrls* O 56 Terreno Res V 131 Teslin Rvr Res V 570 Tesoro Mnrls V 1 Tethyan Res V 129 Teuton Res* O 57 Teuton Res V 176 Texas Mineral* O 2393 Themac Res* O 5 Themac Res V 250 Thor Expl V 155 Thunder Mtn Gd* O 1 Thunderstruck V 85 Thunderstruck* O 72 Till Capital V 2 Timberline Res V 349 Timberline Res* O 661 Tinka Res* O 153 Tinka Res V 768 Tintina Mines V 34 Tisdale Res* O 0 Tisdale Res V 38 Titan Mining T 111 Titan Mining* O 11 Titanium Corp V 78 TMAC Resource* O 136 TMAC Resources T 936 TNR Gold V 391 Tocvan Venture C 342 Tombstone Expl* O 7 O 36 Tonogold Res* Torex Gold* O 208 Torex Gold T 1728 Torq Resources* O 12 V 218 Torq Resources Tower Res* O 43 Tower Res V 475 Transatlantic V 337 Transatlantic* O 301 Transition Met* O 23

0.07 0.05 0.07 + 0.02 0.08 0.03 0.05 0.05 0.05 + 0.02 0.08 0.03 0.08 0.06 0.08 + 0.02 0.10 0.03 0.28 0.24 0.25 - 0.00 0.28 0.00 0.36 0.31 0.33 + 0.01 0.36 0.08 0.15 0.14 0.15 unch 0.00 0.25 0.08 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.00 + 0.00 0.01 0.00 0.56 0.51 0.55 + 0.02 0.85 0.45 0.01 0.01 0.01 unch 0.00 0.06 0.01 0.66 0.60 0.60 - 0.04 1.20 0.30 0.85 0.00 0.78 - 0.06 1.56 0.34 0.08 0.07 0.08 unch 0.00 0.11 0.05 0.06 0.05 0.06 + 0.01 0.08 0.04 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.07 0.06 0.06 - 0.01 0.08 0.02 0.09 0.07 0.08 unch 0.00 0.11 0.03 0.73 0.66 0.73 + 0.05 1.05 0.50 0.57 0.51 0.57 + 0.05 0.79 0.38 0.20 0.00 0.20 unch 0.00 0.28 0.05 21.87 20.18 20.68 - 1.29 34.31 19.34 22.25 20.34 20.89 - 1.17 34.00 19.60 16.85 15.46 15.84 - 1.10 25.75 14.51 0.24 0.24 0.24 + 0.02 0.31 0.22 0.10 0.09 0.10 - 0.00 0.31 0.08 0.16 0.12 0.15 unch 0.00 0.44 0.10 0.02 0.01 0.02 - 0.01 0.04 0.01 0.01 0.01 0.01 unch 0.00 0.03 0.01 7.45 6.73 7.22 + 0.35 7.45 2.97 5.71 5.19 5.54 + 0.25 5.71 2.23 0.06 0.05 0.06 + 0.01 0.12 0.02 0.04 0.04 0.04 + 0.00 0.07 0.03 0.28 0.26 0.27 - 0.01 0.50 0.23 0.21 0.19 0.20 - 0.00 0.36 0.17 0.03 0.02 0.03 unch 0.00 0.05 0.01 0.31 0.29 0.31 - 0.01 0.60 0.26 0.00 0.00 0.04 unch 0.00 0.07 0.04 0.16 0.14 0.15 unch 0.00 0.85 0.11 0.48 0.37 0.38 - 0.06 0.49 0.09 0.62 0.49 0.49 - 0.08 0.65 0.13 1.25 0.77 0.83 - 0.19 1.58 0.12 0.05 0.05 0.05 unch 0.00 0.07 0.02 0.06 0.06 0.06 unch 0.00 0.08 0.03 0.16 0.13 0.16 + 0.01 0.18 0.12 0.08 0.08 0.08 unch 0.00 0.14 0.03 0.05 0.05 0.05 - 0.01 0.11 0.03 0.05 0.03 0.03 - 0.01 0.08 0.02 2.00 0.00 2.00 unch 0.00 2.54 1.00 0.14 0.08 0.12 + 0.01 0.14 0.08 0.11 0.06 0.10 + 0.02 0.13 0.03 0.14 0.12 0.13 - 0.01 0.28 0.09 0.19 0.16 0.17 - 0.02 0.40 0.11 0.03 0.03 0.03 - 0.01 0.08 0.02 0.00 0.00 0.06 unch 0.00 0.11 0.06 0.10 0.00 0.10 + 0.02 0.25 0.06 0.32 0.29 0.30 + 0.01 1.07 0.25 0.24 0.22 0.22 - 0.01 0.77 0.20 0.77 0.68 0.68 - 0.02 1.20 0.47 2.87 2.34 2.37 - 0.46 5.29 2.34 3.74 3.05 3.09 - 0.60 6.95 3.05 0.03 0.03 0.03 - 0.01 0.05 0.02 0.19 0.13 0.16 + 0.01 0.19 0.07 2.50 0.00 2.20 - 0.29 3.80 0.12 0.47 0.31 0.43 - 0.01 0.47 0.07 16.86 15.28 15.65 + 0.01 16.86 8.49 21.83 19.92 20.43 + 0.04 21.91 11.41 0.41 0.00 0.37 - 0.03 0.42 0.24 0.53 0.47 0.47 - 0.07 0.57 0.33 0.03 0.02 0.03 + 0.01 0.05 0.01 0.04 0.04 0.04 - 0.01 0.07 0.02 0.03 0.00 0.03 unch 0.00 0.16 0.02 0.02 0.02 0.02 - 0.00 0.10 0.01 0.11 0.00 0.11 - 0.01 0.17 0.07

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Transition Met V 413 Treasury Metal T 727 O 59 Treasury Metal* Trecora Res* N 249 Tres-Or Res* O 20 Tres-Or Res V 67 Trevali Mng* O 306 Trevali Mng T 4313 31 Tri Origin Exp V Trifecta Gold* O 34 Trifecta Gold V 58 Trilogy Mtls T 74 Trilogy Mtls* X 566 TriMetals Mng* O 73 Trinity Res* O 11 Trinity Valley V 378 Trio Resources* O 278 TriStar Gold V 1247 TriStar Gold* O 618 Triumph Gold V 733 Triumph Gold* O 512 Troilus Gold* O 21 Troilus Gold T 450 Troubadour Res V 257 Troy Enrgy V 149 Troy Res* O 0 True North Gem* O 21 True North Gem V 10 Tsodilo Res V 48 Tudor Gold V 993 Tudor Gold * O 255 Turmalina Met V 548 Turquoise HIl* N 10571 Turquoise HIl T 4102 TVI Pacific V 1036 TVI Pacific* O 136 Tyhee Gold* O 32 Tymbal Res V 30 Typhoon Expl V 53

0.15 0.12 0.15 + 0.02 0.23 0.07 0.32 0.28 0.28 - 0.04 0.42 0.21 0.24 0.21 0.21 - 0.02 0.32 0.15 7.69 7.07 7.20 + 0.05 10.54 7.01 0.06 0.06 0.06 unch 0.00 0.15 0.01 0.11 0.10 0.11 + 0.01 0.30 0.08 0.18 0.17 0.18 - 0.01 0.36 0.11 0.24 0.23 0.23 + 0.00 0.49 0.15 0.02 0.00 0.02 unch 0.00 0.04 0.01 0.03 0.02 0.02 + 0.00 0.06 0.02 0.04 0.00 0.04 - 0.01 0.07 0.03 3.43 2.96 3.07 - 0.16 4.10 2.00 2.51 2.18 2.36 - 0.13 3.13 1.50 0.13 0.10 0.11 - 0.01 0.13 0.02 0.26 0.11 0.25 + 0.05 0.50 0.01 0.08 0.07 0.08 - 0.01 0.15 0.04 0.00 0.00 0.00 - 0.00 0.01 0.00 0.27 0.23 0.24 - 0.01 0.28 0.10 0.22 0.18 0.19 - 0.00 0.22 0.07 0.25 0.21 0.24 unch 0.00 0.58 0.21 0.19 0.16 0.18 - 0.00 0.44 0.16 0.50 0.00 0.46 - 0.05 0.81 0.40 0.65 0.59 0.61 - 0.06 1.16 0.52 0.08 0.06 0.07 + 0.01 0.20 0.03 0.03 0.02 0.02 - 0.01 0.05 0.02 0.00 0.00 0.07 unch 0.00 0.09 0.06 0.07 0.06 0.06 - 0.01 0.14 0.00 0.07 0.00 0.06 - 0.01 0.28 0.05 0.09 0.09 0.09 unch 0.00 0.32 0.05 0.83 0.64 0.69 - 0.07 1.07 0.26 0.63 0.48 0.54 - 0.06 0.81 0.20 0.84 0.73 0.78 - 0.02 0.84 0.53 0.75 0.66 0.68 - 0.07 2.17 0.40 0.95 0.86 0.88 - 0.08 2.84 0.53 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.01 0.01 0.01 + 0.00 0.01 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.05 0.05 0.05 unch 0.00 0.15 0.03 0.05 0.05 0.05 unch 0.00 0.07 0.02

U.S. Gold* D 863 U.S. Lithium* O 61 U3O8 Corp* O 60 U3O8 Corp T 258 C 0 Ubique Mineral UC Res* O 68 899 Ucore Rare Mtl V Ucore Rare Mtl* O 1758 UEX Corp T 836 Ultra Resource* O 33 Ultra Resource V 32 Umbral Enrgy* O 204 Unigold* O 60 V 462 Unigold United Battery C 17 United Battery* O 73 United Res Hdg* O 323 United States A* X 266 United States S* N 60584 Universal Cop* O 25 Universal Cop V 69 Universal Vent V 182 Ur-Energy T 159 Ur-Energy* X 1328 Uragold Bay Rs V 343 Uranium Energy* X 2679 Uranium Hunter* O 6 Uranium Res* D 804 Uranium Roylty V 272 O 88 Uravan Mnrls* UrbanGold Min V 67

1.00 0.83 0.90 + 0.03 1.53 0.65 0.40 0.26 0.32 - 0.03 0.62 0.11 0.10 0.06 0.06 - 0.03 0.19 0.03 0.14 0.08 0.10 - 0.04 0.28 0.04 0.00 0.00 0.04 unch 0.00 0.20 0.03 0.27 0.20 0.22 - 0.00 1.27 0.12 0.23 0.20 0.22 + 0.01 0.34 0.09 0.17 0.15 0.17 - 0.00 0.25 0.07 0.14 0.12 0.13 - 0.02 0.20 0.11 0.07 0.07 0.07 - 0.00 0.09 0.05 0.08 0.07 0.07 - 0.02 0.13 0.06 0.23 0.19 0.21 - 0.02 0.54 0.13 0.18 0.00 0.17 - 0.00 0.21 0.07 0.26 0.22 0.25 unch 0.00 0.27 0.09 0.03 0.00 0.02 - 0.01 0.12 0.02 0.02 0.01 0.02 - 0.00 0.09 0.01 0.06 0.02 0.04 - 0.02 0.09 0.01 0.43 0.35 0.38 - 0.03 0.80 0.34 11.27 10.51 10.72 - 0.02 24.74 9.93 0.00 0.00 0.04 unch 0.00 0.09 0.03 0.03 0.02 0.02 - 0.01 0.14 0.02 5.85 5.25 5.30 + 0.01 5.85 2.80 0.76 0.72 0.73 - 0.02 1.30 0.70 0.60 0.55 0.57 - 0.00 0.99 0.50 0.08 0.07 0.08 unch 0.00 0.12 0.06 0.93 0.87 0.90 - 0.01 1.58 0.82 2.75 0.00 2.00 + 0.75 3.50 0.51 2.50 2.15 2.32 + 0.01 9.88 2.07 1.23 1.16 1.20 - 0.02 1.28 1.10 0.00 0.00 0.00 unch 0.00 0.04 0.00 0.12 0.10 0.10 - 0.03 0.18 0.10

U-V

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

USCorp* O 6 Val-d’Or Mg* O 15 Val-d’Or Mg V 18 Vale* N 94976 Valley High Mg* O 6271 ValOre Metals* O 114 ValOre Metals V 579 Valterra Res* O 4 Valterra Res V 316 Vanadian Enrgy* O 142 V 26 Vanadian Enrgy Vanadium One* O 3 Vanadium One V 687 Vanadiumcorp* O 294 Vanadiumcorp V 593 Vanstar Mng Rs* O 13 Vanstar Mng Rs V 281 Vantex Res * O 3 Vantex Res V 1 Velocity Mnrls V 164 Velocity Mnrls* O 27 Vendetta Mng V 576 Vendetta Mng* O 118 Venerable Vent V 4 Venture Mnrls* O 200 Verde Potash T 43 Verde Res* O 26 Veris Gold* O 3 Vertical Expl V 98 Victoria Gold V 512 O 40 Victory Metals* Victory Metals V 38 O 0 Victory Nickel* Victory Nickel C 58 O 87 Virginia Enrgy* Virginia Enrgy V 25 Viscount Mng V 812 Visible Gold M V 111 Vision Lithium* O 41 Vision Lithium V 168 Vista Gold T 88 Vista Gold* X 1376 Viva Gold* O 42 Viva Gold V 33 Vizsla Res V 1494 37 Vizsla Res * O Volcanic Gold V 17 O 1 Volcanic Gold* Volt Energy V 31 Volt Energy* O 1 Voyageur Min V 232 Voyageur Min* O 11 VR Resources* O 241 VR Resources V 160 Vulcan Mnrls V 47 VVC Expl V 1319

0.00 0.00 0.00 - 0.00 0.00 0.00 0.08 0.07 0.07 - 0.05 0.12 0.04 0.09 0.09 0.09 + 0.01 0.10 0.03 13.37 12.93 12.97 - 0.32 15.45 10.20 0.00 0.00 0.00 - 0.00 0.01 0.00 0.29 0.24 0.25 - 0.04 0.31 0.00 0.38 0.31 0.32 - 0.06 0.40 0.16 0.07 0.07 0.07 unch 0.00 0.28 0.11 0.11 0.10 0.10 - 0.01 0.35 0.10 0.02 0.00 0.02 + 0.00 0.06 0.00 0.02 0.02 0.02 unch 0.00 0.09 0.01 0.04 0.03 0.03 - 0.00 0.15 0.03 0.06 0.05 0.06 - 0.01 0.21 0.05 0.04 0.04 0.04 - 0.00 0.10 0.02 0.05 0.05 0.05 - 0.01 0.10 0.04 0.35 0.34 0.35 + 0.03 0.37 0.11 0.47 0.44 0.47 + 0.05 0.49 0.12 0.12 0.10 0.10 - 0.02 0.22 0.08 0.00 0.00 0.18 unch 0.00 0.40 0.10 0.45 0.41 0.42 - 0.04 0.58 0.19 0.35 0.32 0.32 - 0.03 0.44 0.16 0.07 0.06 0.06 - 0.01 0.17 0.04 0.05 0.00 0.05 + 0.01 0.12 0.03 0.06 0.06 0.06 unch 0.00 0.10 0.05 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.46 0.42 0.43 + 0.01 0.82 0.40 0.01 0.01 0.01 unch 0.00 0.10 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.04 0.04 0.04 unch 0.00 0.09 0.02 9.66 8.40 8.70 - 0.56 9.90 5.55 0.36 0.30 0.31 - 0.00 0.57 0.28 0.44 0.40 0.41 + 0.01 0.77 0.37 0.02 0.00 0.02 unch 0.00 0.04 0.01 0.03 0.00 0.02 + 0.01 0.05 0.02 0.07 0.05 0.05 - 0.02 0.25 0.03 0.09 0.00 0.09 + 0.03 0.37 0.04 0.25 0.22 0.23 - 0.02 0.31 0.15 0.08 0.07 0.07 unch 0.00 0.11 0.04 0.04 0.03 0.03 - 0.00 0.13 0.02 0.05 0.04 0.04 - 0.01 0.18 0.03 1.07 0.92 0.92 - 0.01 1.39 0.68 0.82 0.70 0.71 - 0.03 1.05 0.52 0.19 0.17 0.18 - 0.00 0.32 0.15 0.25 0.23 0.25 unch 0.00 0.44 0.19 0.85 0.70 0.84 + 0.07 0.85 0.13 0.64 0.57 0.64 + 0.04 0.64 0.29 0.17 0.00 0.16 + 0.01 0.44 0.13 0.11 0.11 0.11 unch 0.00 0.36 0.11 0.06 0.00 0.05 - 0.02 0.10 0.02 0.04 0.04 0.04 unch 0.00 0.05 0.03 0.09 0.08 0.09 + 0.01 0.12 0.05 0.06 0.00 0.06 + 0.01 0.10 0.04 0.29 0.25 0.27 - 0.02 0.35 0.09 0.36 0.34 0.35 - 0.03 0.40 0.12 0.07 0.06 0.07 unch 0.00 0.21 0.02 0.05 0.04 0.05 + 0.01 0.05 0.02

Walker Lane* O 16 Walker River* O 20 Walker River V 1069 Wallbridge Mng T 12525 Warrior Gold V 670 Warrior Gold* O 11 Waseco Res V 88 Wealth Mnrls V 1321 Wealth Mnrls* O 1621 Wescan Gldflds V 1 Wesdome Gold* O 462 Wesdome Gold T 3441 West High Yld V 69 West Kirkland V 1097

0.20 0.04 0.19 unch 0.00 0.40 0.03 0.09 0.08 0.09 + 0.02 0.19 0.05 0.13 0.10 0.13 + 0.04 0.27 0.06 0.94 0.79 0.85 - 0.05 0.98 0.17 0.09 0.07 0.09 + 0.02 0.12 0.06 0.07 0.00 0.07 + 0.02 0.09 0.04 0.04 0.03 0.03 + 0.01 0.05 0.02 0.30 0.23 0.30 + 0.06 0.65 0.16 0.23 0.17 0.23 + 0.04 0.50 0.12 0.00 0.00 0.04 unch 0.00 0.11 0.03 7.91 7.39 7.60 + 0.01 8.02 2.95 10.27 9.61 9.95 + 0.05 10.47 3.96 0.15 0.13 0.14 unch 0.00 0.48 0.10 0.07 0.00 0.06 - 0.01 0.09 0.03

W-Z

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

West Kirkland * O 23 West Red Lake C 1160 West Red Lake* O 128 Western Areas* O 1 Western Atlas V 135 Western Atlas* O 0 Western Copper T 639 Western Copper* X 778 Western Mag V 836 Western Mag* O 410 Western Pac Rs* O 0 Western Pac Rs V 1 Western Potash T 87 Western Res* O 20 Western U&V* O 19 Western U&V C 62 Westgold Res* O 1 Westhaven Vent* O 140 Westhaven Vent V 302 O 3 Westkam Gold* Westkam Gold V 28 Westminster Rs V 7 Westmoreland* O 7 O 1 WestMountain* Wheaton Prec M* N 9012 Wheaton Prec M T 4225 White Gold* O 208 White Gold V 1772 White Metal Rs V 139 White Mtn Engy* O 69 O 12 Whitehaven Coa* Wildsky Res* O 7 Wildsky Res V 11 Winshear Gold V 133 O 4 Winshear Gold* Winston Gold C 482 Winston Gold* O 653 Winston Res C 39 Wolfden Res* O 32 Wolfden Res V 1401 Wolfeye Res V 566 Worldwide Res* O 95 Worldwide Res V 1058 X-Terra Res V 3241 X-Terra Res* O 2 T 40 Xanadu Mines Xemplar Egy* O 30 Xiana Mng* O 0 Ximen Mining* O 2 Ximen Mining V 292 Xtierra Inc V 83 Xtra-Gold Res* O 117 Xtra-Gold Res T 93 Yamana Gold T 13353 Yamana Gold* N 108428 O 11 Yanzhou Coal* Yorbeau Res T 399 O 0 Zadar Ventures* Zadar Ventures V 269 C 957 Zanzibar Gold Zara Res* O 394 ZEN Graphene V 287 ZEN Graphene* O 31 Zephyr Mnls V 91 Zephyr Mnls* O 72 Zimtu Capital V 176 Zinc One Res V 299 Zinc One Res * O 189 ZincX Res V 264 ZincX Res* O 25 Zonte Metals V 194 Zonte Metals* O 132

0.05 0.05 0.05 - 0.00 0.07 0.02 0.07 0.06 0.06 - 0.01 0.12 0.04 0.05 0.04 0.05 - 0.00 0.10 0.02 2.02 2.02 2.02 unch 0.00 2.32 1.43 0.09 0.08 0.08 - 0.01 0.11 0.05 0.00 0.00 0.04 unch 0.00 0.07 0.04 1.13 1.05 1.10 + 0.03 1.15 0.62 0.87 0.81 0.84 + 0.01 0.89 0.45 0.12 0.11 0.11 unch 0.00 0.35 0.04 0.10 0.08 0.09 + 0.00 0.43 0.03 0.20 0.00 0.20 unch 0.00 0.60 0.16 0.00 0.00 0.28 unch 0.00 0.68 0.20 0.29 0.26 0.26 - 0.04 0.55 0.11 0.23 0.22 0.22 + 0.00 0.41 0.08 0.83 0.72 0.76 - 0.04 1.30 0.49 1.05 0.96 0.97 - 0.06 1.69 0.65 1.55 1.55 1.55 unch 0.00 1.67 0.72 0.76 0.68 0.68 - 0.08 0.93 0.39 0.99 0.89 0.89 - 0.11 1.25 0.51 0.09 0.00 0.09 + 0.01 0.44 0.02 0.11 0.11 0.11 - 0.02 0.35 0.10 0.06 0.00 0.06 unch 0.00 0.45 0.05 0.01 0.00 0.01 + 0.00 0.05 0.01 2.00 0.00 1.75 + 0.75 3.00 1.00 30.20 27.50 27.77 - 1.77 30.90 18.54 39.20 36.00 36.27 - 2.13 40.95 24.75 0.90 0.80 0.83 - 0.06 1.22 0.54 1.18 1.05 1.06 - 0.09 1.62 0.73 0.05 0.04 0.05 unch 0.00 0.07 0.03 0.03 0.02 0.03 + 0.00 0.07 0.00 1.86 1.72 1.72 - 0.14 3.32 1.72 0.08 0.00 0.08 + 0.02 0.11 0.04 0.08 0.00 0.08 unch 0.00 0.14 0.06 0.14 0.14 0.14 unch 0.00 0.15 0.05 0.09 0.09 0.09 unch 0.00 0.10 0.02 0.08 0.07 0.08 unch 0.00 0.17 0.03 0.07 0.05 0.06 - 0.00 0.13 0.02 0.01 0.00 0.01 unch 0.00 0.05 0.01 0.12 0.09 0.12 + 0.03 0.23 0.06 0.16 0.14 0.14 unch 0.00 0.30 0.08 0.87 0.74 0.74 - 0.03 0.93 0.45 0.04 0.02 0.02 - 0.01 0.05 0.03 0.04 0.02 0.03 + 0.01 0.07 0.02 0.15 0.11 0.13 + 0.02 0.17 0.07 0.10 0.00 0.10 + 0.00 0.10 0.07 0.03 0.03 0.03 unch 0.00 0.17 0.02 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.29 unch 0.00 0.45 0.23 0.29 0.26 0.26 - 0.03 0.66 0.24 0.37 0.32 0.32 - 0.05 0.86 0.30 0.05 0.00 0.05 unch 0.00 0.08 0.03 0.50 0.41 0.44 - 0.02 0.50 0.20 0.60 0.54 0.58 + 0.02 0.64 0.28 5.19 4.77 4.86 - 0.19 5.24 2.41 4.00 3.65 3.72 - 0.16 4.04 1.78 0.95 0.91 0.91 + 0.05 1.08 0.81 0.03 0.03 0.03 + 0.01 0.05 0.02 0.00 0.00 0.07 unch 0.00 0.10 0.02 0.12 0.11 0.11 + 0.02 0.25 0.08 0.13 0.11 0.11 + 0.01 0.32 0.09 0.02 0.01 0.02 + 0.00 0.63 0.01 0.36 0.33 0.35 + 0.01 0.63 0.28 0.28 0.25 0.26 - 0.02 0.47 0.21 0.21 0.19 0.21 + 0.02 0.34 0.15 0.16 0.15 0.16 + 0.01 0.54 0.12 0.18 0.11 0.11 - 0.02 0.35 0.09 0.02 0.02 0.02 - 0.01 0.10 0.02 0.02 0.01 0.01 - 0.00 0.08 0.00 0.12 0.12 0.12 unch 0.00 0.25 0.09 0.08 0.08 0.08 unch 0.00 0.18 0.07 0.37 0.32 0.33 + 0.03 0.39 0.20 0.26 0.25 0.25 + 0.03 0.30 0.16

BID-ASK — JANUARY 6–10, 2020 STOCK

12-MONTH

EXC BID ASK LAST HIGH

12 Exploration African Metals Aftermath Silv Allante Res Alturas Min American CuMo American Uran Anconia Res Anglo-Bomarc Arcturus Vent Atlanta Gold Aurelius Min Austin Res Banro Corp* Barker Min Barrian Mining BC Moly Bearclaw Cap Bessor Min BHK Mining Black Mammoth Bluenose Gold Bond Resources Boss Power Brigadier Gold Broadway Gold Brunswick Res Buffalo Coal Bullion Gold Cadillac Vent Cairo Res Camrova Res Canada Coal Canadian Silv Candelaria Mg Canex Energy Cassius Vents CAT Strategic Central Iron Century Metals Cerro de Pasc Cerro Mng Chinapintza Mg CIM Intl Grp Cliffmont Res Cliffs Nat Res* Clydesdale Res CMX Gold & Sil Comstock Mtls Contintl Prec Crest Resource Cresval Cap CWN M’g Acq Cyntar Venture Cyprium Mng DeepRock Min Eco Oro Mnls Edison Cobalt Electra Stone Empire Metals Etruscus Res EurOmax Res Everton Res Excalibur Res Explorex Res Fengro Industr Fieldex Expl Finore Mng Fiorentina Min Fire River Gol Four Nines Freedom Egy Full Metal Mnl Fusion Gold Galleon Gold GAR Limited Generic Gold Gentor Res GFM Res GK Resources Global Cop Grp Global Vanad Goldbelt Emp Golden Pursuit

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

12-15_JAN20_StockTables.indd 15

0.15 0.25 0.15 0.25 0.06 0.09 0.06 0.24 0.25 0.25 0.33 0.10 ... 0.16 0.20 ... 0.01 0.01 0.02 0.06 0.07 0.06 0.06 0.24 0.06 0.06 0.01 0.01 0.01 0.02 0.08 0.08 0.15 0.56 0.56 0.50 0.97 0.03 0.04 0.03 0.04 0.13 0.14 0.14 0.15 0.06 0.09 0.06 0.13 0.11 0.11 0.11 2.10 0.01 0.01 0.01 0.01 0.15 0.15 0.13 0.27 0.05 0.21 0.05 0.07 0.02 0.02 0.02 0.04 0.05 0.06 0.05 0.20 0.02 0.02 0.02 0.04 0.06 0.04 0.09 0.14 0.14 0.14 0.20 0.20 ... 0.15 0.20 0.17 0.20 0.17 ... 0.17 0.15 0.25 0.07 0.07 0.08 0.14 ... 0.03 0.03 0.03 0.01 0.01 0.01 0.01 0.06 0.15 0.10 0.47 0.01 0.02 0.02 0.03 ... ... 0.30 0.34 ... 0.05 0.07 0.02 0.03 0.03 0.07 0.01 0.06 0.06 0.14 0.20 0.20 0.42 ... ... 0.17 0.17 0.06 0.13 0.07 0.09 0.04 0.07 0.04 0.08 0.01 0.02 0.01 0.03 0.06 0.09 0.07 0.11 ... ... 0.29 0.34 0.09 0.15 0.10 0.36 0.01 1.00 0.01 0.03 0.02 0.10 0.02 0.63 0.10 0.15 0.10 0.14 1.45 3.20 1.43 7.17 0.02 0.03 0.02 0.04 ... 0.06 0.05 0.08 0.02 0.02 0.02 0.06 0.30 0.30 0.30 0.37 0.07 0.08 0.07 0.16 0.02 0.02 0.02 0.05 0.04 0.05 0.07 0.08 0.13 0.20 0.11 0.11 0.03 0.03 0.03 0.02 0.03 0.03 0.10 0.05 0.09 0.07 0.27 0.08 0.08 0.06 0.09 0.01 0.02 0.01 0.13 0.28 0.13 0.20 0.22 0.27 0.25 0.50 0.03 0.04 0.03 0.17 0.02 0.03 0.03 0.04 0.09 0.10 0.10 0.11 0.20 0.20 0.18 0.40 0.01 0.01 0.01 0.05 ... 0.17 0.19 0.12 0.12 0.11 0.10 0.15 0.18 0.20 0.03 0.07 0.09 0.16 0.31 0.15 0.26 0.02 0.02 0.01 0.03 0.01 0.01 0.10 0.10 0.10 0.17 0.30 0.06 0.07 0.06 0.09 ... ... 0.15 4.13 ... 3.33 0.06 0.06 0.05 0.07 0.05 0.07 0.05 0.09 0.05 0.05 1.01 1.01 0.26 0.30 0.07 0.08 0.08 0.11 0.17 0.24 0.24 0.28 0.01 0.01 0.02 0.05 0.07 0.05 0.11

LOW

STOCK

0.15

Goldstream Mnl Graphite Egy Gray Rock Res Great Lakes Gr Great Quest Fe Green Arrow Green Swan Cap Greenshield Ex Grenville Gold GrowMax Res Handa Mining Harfang Explor HFX Holding Highbury Proj Highvista Gold Horizonte Mnls IEMR Res IM Exploration Indico Res Infinite Lith Inspiration Mg Intact Gold Interconnect Intl Battery Intl Bethl Mng Intl Millm Mng Intl Prospect Iron South Mng Jubilee Gold Kal Minerals Kanadario Gold Kermode Res Kestrel Gold Kings Bay Res Knick Expl La Imperial Labrador Gold Lateral Gold Latin Metals Le Mare Gold Leo Res Lightspeed Dis Lithion Energy Lithium Energy Lovitt Res Lydian Intl Madeira Mrnls MAG Silver* Magna Terra Magnitude Mng Manado Gold Margaret Lake Mariner Res Martina Mnls MBMI Res Meadow Bay Gd Mega Copper Meridian Mg Meridius Res Metron Capital Micrex Dev Midasco Cap Midnight Star MillenMin Vent Milner Con Slv Minecorp Egy Mineral Hill Minnova Corp Minsud Res Mongoose Mg Montana Gold Mountain Lake MX Gold Navy Res Nebu Res Nemaska Lith New Jersey Mng New Klondike New Stratus New World Res Nexco Res Norsemont Cap Northern Uran Nrthn Lion

0.05 0.11 0.01 0.06 0.01 0.05 0.03 0.03 0.05 0.10 0.01 0.10 0.03 0.01 0.03 0.02 0.09 0.11 0.12 0.07 0.02 0.01 0.09 0.01 0.30 0.01 0.11 0.15 0.06 0.04 0.01 0.06 0.12 0.07 0.01 0.02 0.05 0.98 0.02 0.03 0.02 0.30 0.06 0.02 0.03 0.07 0.02 0.03 0.04 0.13 0.17 0.02 0.02 0.01 0.15 0.01 0.18 0.14 0.01 0.12 0.01 0.13 0.04 0.05 0.05 0.15 0.04 0.16 0.02

12-MONTH

EXC BID ASK LAST HIGH LOW

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

0.06 0.07 0.05 0.09 0.04 0.04 0.47 1.35 0.05 0.08 0.06 0.15 0.05 0.05 0.04 0.04 0.04 0.04 0.10 0.02 0.03 0.02 0.04 0.01 0.03 0.02 0.05 0.15 0.20 0.13 0.22 0.07 0.11 0.08 0.38 0.03 0.03 0.09 0.13 0.02 0.03 0.02 0.05 0.20 0.24 0.19 0.32 0.01 ... 0.01 0.06 0.20 0.36 0.30 0.30 ... ... 0.17 0.06 0.07 0.07 0.09 0.01 0.01 0.01 0.02 0.04 0.15 0.10 0.15 ... 0.01 0.01 0.02 0.26 0.29 0.28 0.32 0.03 0.03 0.03 0.04 0.06 0.05 0.09 0.06 0.35 0.06 0.07 ... ... 0.31 0.03 0.04 0.03 0.10 ... 0.01 0.03 0.09 0.12 0.10 0.20 0.24 0.27 0.24 0.28 0.38 0.98 0.53 0.95 0.08 0.40 0.08 0.25 0.17 0.35 0.19 0.25 0.01 0.01 0.01 0.02 0.02 0.02 0.02 0.03 0.03 0.03 0.04 0.05 0.01 0.01 0.01 0.02 0.02 0.13 0.02 0.04 0.15 0.18 0.15 0.26 0.02 0.02 0.03 0.39 0.03 0.04 0.03 0.16 0.07 0.07 0.09 0.18 ... ... 1.09 0.09 0.19 0.10 0.32 ... ... 0.10 0.01 0.01 0.10 0.13 0.08 0.13 0.10 0.06 0.06 0.08 0.24 ... ... 0.03 0.04 12.52 13.30 12.52 14.40 0.01 0.01 0.02 0.05 0.14 0.24 0.12 0.20 0.01 0.21 0.05 0.02 0.03 0.03 0.11 0.15 0.25 0.16 0.20 0.02 0.19 0.05 0.12 0.12 0.20 0.13 0.32 0.04 0.04 0.04 0.06 0.12 0.19 0.12 0.18 0.06 0.08 0.07 0.22 0.10 ... 0.15 0.22 0.04 0.07 0.05 0.07 0.02 0.02 0.01 0.08 0.15 0.08 0.15 0.15 0.15 0.15 0.34 0.01 0.50 0.05 0.02 0.05 0.04 0.08 ... ... 0.12 0.20 0.11 0.48 0.15 0.07 0.08 0.08 0.73 0.05 0.08 0.05 0.15 0.13 0.14 0.14 0.15 0.09 0.10 0.10 0.10 ... ... 0.05 0.11 0.11 0.11 0.10 0.19 0.15 0.16 0.04 0.04 0.04 0.05 0.05 0.17 0.71 ... ... 0.15 0.20 0.01 0.01 0.01 0.10 0.10 0.40 0.30 0.30 0.21 0.24 0.04 0.05 0.04 0.08 0.29 0.37 0.35 0.43 0.01 0.01 0.01 0.02 0.12 0.45 0.12 0.46

0.04 0.03 0.04 0.03 0.02 0.02 0.04 0.08 0.08 0.02 0.19 0.01 0.17 0.03 0.01 0.04 0.01 0.12 0.05 0.04 0.02 0.07 0.04 0.48 0.08 0.15 0.01 0.01 0.03 0.01 0.02 0.11 0.03 0.02 0.03 0.08 0.10 0.06 0.02 6.12 0.01 0.04 0.02 0.15 0.04 0.04 0.03 0.12 0.04 0.09 0.04 0.08 0.11 0.02 0.07 0.06 0.01 0.12 0.02 0.10 0.15 0.15 0.18 0.03 0.25 0.01 0.10

STOCK

12-MONTH

EXC BID ASK LAST HIGH LOW

NxGold Ltd V Odyssey Res V V Opus One Res Ord Mountain V Pac Arc Res V Pac Cascade V Pac Imperial V V Pacific Silk Paringa Res* D C Pasinex Res Patriot Gold C V Pedro Res Philippine Mtl V Phoenix Gold V V Plata Latina V ProAm Expl Project One C C Quantum Cobalt Quartz Mtn Res V Rain City C Rare Element* X Rathdowney Res V Razore Rock Res C Regency Gold V Reliant Gold C Remington Res V Rhyolite Res V Richmond Mnls V Riley Resource V Rizal Res V Rockex Mng C Rockland Mnls V Rockwealth Res V Rojo Res V Ross River V Roughrider Exp V Rover Metals V Rubicon Mnrls* X Sage Gold V Saint Jean V Samco Gold V Secova Mtls V Sennen Potash V Shine Minerals V Silver Phoenix C Skarb Explor C Slave Lake Zn C Sonora Gld & S V Southstone Min V Superior Mng V Surge Explor V Talmora Diamd C Themac Res V Thunder Mtn Gd V Tiger Intl V TomaGold V Tri-River Vent V Trident Gold V TriMetals Mng T True Grit Res V Upper Canyon V Uravan Mnrls V Vale* N ValOre Metals V Vangold Res V Vantex Res V Vatic Vent V Venerable Vent V Victory Res C Walcott Res C Western Pac Rs V Western Troy C V Whitemud Res V Winshear Gold V Xander Res V Xiana Mng V Yukoterre Res C Zara Res C Zena Mining V Zenith Explor C Zinco Mng V Zincore Mtls V

0.03 0.03 0.03 0.11 0.03 0.05 0.03 0.05 0.05 0.06 0.06 0.08 0.08 0.14 0.08 0.12 0.21 0.30 0.21 0.39 0.01 0.02 0.01 0.01 0.02 0.02 0.03 0.02 0.03 0.02 0.04 ... ... 1.44 9.02 0.02 0.03 0.02 0.12 0.05 0.09 0.05 0.06 ... 0.24 0.10 0.29 0.02 0.08 0.08 0.14 ... 0.05 0.05 0.07 0.03 0.05 0.04 0.06 0.07 0.16 0.07 0.12 0.15 0.27 0.18 0.30 ... ... 1.10 3.15 0.16 0.30 0.17 0.35 0.07 0.13 0.08 0.15 0.11 0.16 0.15 0.89 0.06 0.09 0.10 0.13 0.06 0.25 0.07 0.10 0.01 0.15 0.13 0.14 ... 0.02 0.02 0.11 0.18 0.15 0.20 0.07 0.12 0.10 0.26 0.06 0.06 0.06 0.06 0.11 0.24 0.13 0.21 0.01 0.02 0.02 0.03 0.02 0.04 0.02 0.05 0.07 0.08 0.08 0.11 0.46 1.00 0.46 0.50 ... 0.20 0.19 0.30 ... 0.34 0.26 0.08 0.08 0.06 0.09 0.02 0.05 0.07 0.08 ... ... 0.03 1.35 0.01 0.01 0.02 0.01 0.01 0.04 0.04 0.03 ... 0.05 0.08 0.05 0.06 0.05 0.06 0.20 0.40 0.45 0.03 0.04 0.03 0.08 0.10 0.20 0.12 0.20 0.04 0.10 0.08 0.10 0.04 0.09 0.08 0.13 0.04 0.05 0.04 0.07 0.01 0.01 0.01 0.04 0.19 0.23 0.20 0.24 0.39 0.44 0.39 0.23 0.02 0.05 0.02 0.06 0.05 0.06 0.06 0.08 0.05 ... 0.17 0.17 0.05 0.11 0.06 0.15 0.04 0.04 0.05 0.06 ... ... 0.04 0.16 0.25 0.20 0.20 0.11 0.12 0.12 0.12 0.01 0.04 0.02 0.03 ... 0.75 0.25 0.02 0.03 0.04 0.05 ... ... 10.24 11.10 0.06 0.07 0.07 0.13 0.04 0.04 0.04 0.14 0.24 0.18 0.40 0.07 0.07 0.10 0.10 0.06 0.10 0.06 0.10 0.02 0.02 0.02 0.12 0.10 0.20 0.20 0.20 0.23 0.39 0.28 0.68 0.02 0.04 0.02 0.10 0.01 0.02 0.02 0.03 0.12 0.14 0.14 0.15 0.09 ... 0.09 0.29 0.36 0.30 0.61 0.08 0.15 0.09 0.16 ... ... 0.07 0.22 0.08 0.12 0.07 0.10 ... 0.11 0.11 0.20 0.05 0.07 0.05 0.03 0.03 0.05

0.03 0.03 0.01 0.08 0.20 0.01 0.01 1.40 0.02 0.04 0.09 0.04 0.04 0.02 0.05 0.18 0.20 0.15 0.04 0.06 0.03 0.07 0.10 0.12 0.09 0.02 0.11 0.01 0.01 0.01 0.12 0.10 0.06 0.04 0.03 0.02 0.02 0.02 0.01 0.12 0.08 0.04 0.03 0.01 0.05 0.03 0.02 0.03 0.17 0.04 0.05 0.14 0.03 0.01 0.02 6.57 0.07 0.10 0.08 0.05 0.01 0.10 0.20 0.02 0.01 0.05 0.30 0.09 0.07 0.04 0.06

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2020-01-13 10:37 AM

2020

MARCH 1 – 4

2020

SPECIAL SUPPLEMENT TO THE NORTHERN MINER / JANUARY 20-FEBRUARY 2, 2020

PAGES 1 - 16

DISCOVERIES OF THE 21ST CENTURY By Co-Chairs of the 2020 Convention Planning Committee of the Prospectors & Developers Association of Canada (PDAC): Patrick Chance, President, Patrick Chance & Associates and Robert Boyd, President, CEO and Director of Endurance Gold Corporation

• Using environmental intelligence to make your project a success

The world’s mineral exploration and mining industry will meet at the annual Prospectors & Developers Association of Canada’s (PDAC) Convention from March 1-4, 2020 marking the 88th year for this iconic event.

• Will this exploration project become a mine? 2019 saw the return of major M&A activity in the mining industry. Join us at the Mineral Outlook Luncheon on March 2nd as Catherine Raw, Chief Operating Officer, North America at Barrick Gold Corporation, discusses the recent spate of M&A in the gold mining sector, how it differs from that of the past, what it means for the mining industry as a whole and the potential implications this has on investment and growth in the future.

Toronto is known as the world’s mining investment capital. The annual PDAC Convention will again bring another unparalleled lineup of programs, speakers, investment and networking opportunities to delegates at the Metro Toronto Convention Centre. More than 25,000 attendees from 132 countries attended in 2019, including analysts, mining executives, geologists, prospectors, investors, students and government officials.

The PDAC Convention is a unique platform that provides exceptional learning and networking opportunities. We invite you to attend numerous networking events: on March 1 the Opening Day Reception; the Trade Show Reception and The Network (a new reception) on March 2; the Mining for Diversity Reception and the Awards Gala & After Party, on March 3, and after four exhilarating days at the world’s premier mineral exploration and mining convention, it’s time to party at the Grand Finale on March 4.

Our 2020 event will feature over 1,100 exhibitors, with 500 at the Investors Exchange and another 600 at the Trade Show. PDAC 2020 will offer various engaging sessions through its highly acclaimed programs—such as the Building an investor toolkit: Practical tips seminar, Cutting Edge, Capital Markets Program, Indigenous Program, Short Courses, Student & Early Career Program, Sustainability Program and Technical Program—in addition to the Corporate Presentation Forum for Investors, Letter Writer Presentations for Investors, Exploration Insights, and more than 30 free events in Presentation & Reception Rooms. The Keynote Program (March 2) will focus on Discoveries of the 21st Century. Exploration success has been declining since the start of this century. However, major tier one deposits have been discovered and advanced through production. Mark Bristow, Barrick Gold Corporation will share his experience of finding and building world-class in different continents; Joe Ovsenek, Pretium Resources Inc. will discuss the

Brucejack Mine: From discovery to production and Robert Friedland, Ivanhoe Mines Ltd. will talk about how Ivanhoe Mines is delivering the triple crown of Southern Africa’s mining future: Kamoa-Kakula, Kipushi and Platreef. There are excellent opportunities to attend 14 in-depth, educational short courses led by industry experts on topics such as: • An in-depth overview of US mining law relating to acquiring,

PDAC 2020: The World’s Premier Mineral Exploration & Mining Convention

developing, permitting, financing and closing hard rock mining claims and projects • Concepts and application of machine learning to mining geoscience: A practical course • Fundamentos de estimación de recursos minerales (Spanish only) • Geological interpretation of aeromagnetic data • Gold: Geology, geochemistry, genesis and exploration • Greenstone belt architecture and metal endowment within the Abitibi Terrane

• Health & safety for mineral exploration • Minimizing environmental impact • Mining financial modeling • Public reporting, professional practice, and industry guidance: Meeting expectations of securities regulators • Qualitative and quantitative prospectivity mapping and assessment of undiscovered mineral resources • The value proposition for geophysics: It’s not just discovery

We take pride in partnering with our many sponsors, most of whom are long-term supporters of our convention. We would especially like to thank our Diamond sponsor Teck Resources Limited; our Platinum sponsors BHP and Nexa Resources S.A.; and our Patron Sponsors BMO Capital Markets, Caterpillar, Rio Tinto, TMX Group, The Lind Partners, Vale Canada Limited and Wheaton Precious Metals. We would also like to welcome and thank our three returning Mining Country Sponsors Peru, Brazil and Invest in Canada. Visit our website at www.pdac. ca/convention for the latest news and information. We look forward to seeing you all at the PDAC 2020 Convention.

March 1 – 4, 2020 Metro Toronto Convention Centre, Toronto, Canada

2020

Register online by February 7, 2020 to qualify for early registration rates. Review the full program and registration details at www.pdac.ca/convention CONVENTION REGISTRATION DESK HOURS Onsite Info and Registration Centre Sponsored by B2Gold Corp. Friday, February 28 . . . . . . . . . . . . . . . . . . . . . . . . . 7:00 am – 6:00 pm Saturday, February 29. . . . . . . . . . . . . . . . . . . . . . . 7:00 am – 6:00 pm Sunday, March 1. . . . . . . . . . . . . . . . . . . . . . . . . . . . 7:00 am – 5:00 pm Monday, March 2. . . . . . . . . . . . . . . . . . . . . . . . . . . 7:00 am – 5:00 pm Tuesday, March 3. . . . . . . . . . . . . . . . . . . . . . . . . . . 7:00 am – 5:00 pm Wednesday, March 4. . . . . . . . . . . . . . . . . . . . . . . . 7:00 am – 12:00 pm For more information on registration, contact PDAC Registration Department at pdac@pdacevents.ca or 1 866 939 6468 | 647 362 8442. For more information about the convention, contact: Prospectors & Developers Association of Canada 800-170 University Ave, Toronto, Ontario, M5H 3B3, Canada E convention@pdac.ca | T 1 416 362 1969 | F 1 416 362 0101

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Headquartered in Vancouver, B.C., Teck is Canada's largest diversified resource company committed to responsible mining and mineral development with business units focused on copper, zinc, steelmaking coal and energy. With ownership or interest in 11 operating mines in Canada, the USA, Chile and Peru, a large metallurgical complex and several major development projects in the Americas, Teck has expertise across a wide range of activities including exploration (primarily focused on three commodities: copper, zinc and gold), mining and minerals processing, including smelting and refining, health and safety, environmental protection, materials stewardship, recycling and research. Teck’s close to 10,000 employees work each day to deliver on their commitment to health and safety, protection of the environment and the sustainability of the communities in which Teck operates. Teck is proud to be the Diamond Sponsor for the PDAC 2020 Convention.

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HIGHLIGHTS

2020 March 1 – 4

Metro Toronto Convention Centre | Toronto, Canada

SAVE 40% — REGISTER BY FEBRUARY 7

on an All Access Pass and individual membership at pdac.ca/convention

25,000 CONNECT WITH

ATTENDEES FROM

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AT THESE EVENTS

> Including investors, financiers, banking executives, fund managers, brokers, analysts, lawyers, mining developers, exploration managers, prospectors, geoscientists, government officials, media and more!

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MINERAL OUTLOOK LUNCHEON | MONDAY, MARCH 2 M&A in the mining sector: The return of the mega deal, the reasons why and implications for the future Join us as Catherine Raw, Chief Operating Officer, North America at Barrick Gold Corporation, discusses the recent spate of M&A in the gold mining sector and what it means for the mining industry as a whole.

OTHER NETWORKING EVENTS Sunday, March 1

PDAC New Members Networking Reception

Sunday, March 1

Opening Day Reception

Monday, March 2

Trade Show Reception

Monday, March 2

The Network - NEW RECEPTION

Tuesday, March 3

Student-Industry Networking Luncheon

Tuesday, March 3

Mining for Diversity Reception

Wednesday, March 4 Grand Finale

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AWARDS GALA & AFTER PARTY TUESDAY, MARCH 3 The PDAC Awards Gala celebrates excellence in the global mining industry, and is the ideal place to host your clients and network with key players. Enjoy drinks on arrival, followed by a sumptuous three-course gourmet dinner and fine wines. Then… it’s on to the AFTER PARTY! Your opportunity to rub shoulders with Award recipients, C-level executives, financiers, brokers and mining developers. Enjoy two complimentary drink tickets and a great party atmosphere—the perfect backdrop for unlimited networking!

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VALUABLE INVESTING

INSIGHTS FROM INDUSTRY THOUGHT LEADERS IN THE MINERALS AND MINING SECTOR

780+ SPEAKERS GAIN INSIGHTS FROM INDUSTRY EXPERTS

• Capital Markets Program • Cutting Edge — NEW • Exploration Insights • Indigenous Program • Presentation & Reception Rooms • Student & Early Career Program • Sustainability Program • Technical Program

> Building an investor toolkit: Practical tips seminar N FOR E W Get practical tips on how to PDA C 20 20 start investing in the mineral industry and increasing the odds of making money on investments. > Corporate Presentation Forum for Investors Company updates on key activities and investment potential. > Letter Writer Presentations for Investors Learn how to select profitable investments from key industry newsletter writers.

KEYNOTE PROGRAM: DISCOVERIES OF THE 21ST CENTURY MONDAY, MARCH 2 Exploration success has been declining since the start of the 21st century. However, key tier one deposits have been discovered and put into production. Three industry leaders will outline how this was possible, what were the keys to success and what are the keys for discovery in the future. Finding and building worldclass in different continents

Brucejack Mine: From discovery to production

Ivanhoe Mines is delivering the triple crown of Southern Africa’s mining future

Visit

+ 1,100 EXHIBITORS

Mark Bristow Barrick Gold Corporation

Joe Ovsenek Pretium Resources Inc.

Robert Friedland Ivanhoe Mines Ltd.

SHORT COURSES Register for in-depth, educational courses led by industry experts. A certificate of completion is available towards your professional development hour requirements. BA Fundamentos de estimación de recursos BY PO CK P DEMAUL AR minerales (Instruction in Spanish only) N D

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PROMOTING LEADING PRODUCTS, SERVICES, MINING JURISDICTIONS, INVESTMENT AND DEVELOPMENT OPPORTUNITIES • Core Shack • Investors Exchange • Prospectors Tent • Trade Show & Trade Show North

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2020

Convention Sponsors DIAMOND SPONSOR

2020

PLATINUM SPONSORS

MINING COUNTRY SPONSORS

PATRON SPONSORS

PREMIER SPONSORS

note: please do not stretch, change colours or modify logo in any way if logo is required for unusual uses, please contact djdesign@jetstream.net for another version

GOLD PLUS SPONSORS

GOLD SPONSORS

Â®

Now part of

BRONZE SPONSORS IBK Capital Corp. Corp

Prospectors & Developers Association of Canada

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INC.

www.pdac.ca/convention

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2020 PDAC 2020: The World’s Premier Mineral Exploration & Mining Convention March 1-4 Metro Toronto Convention Centre, Toronto, Canada REGISTER AT WWW.PDAC.CA/CONVENTION

PROGRAMMING KEYNOTE PROGRAM

CAPITAL MARKETS PROGRAM Sponsored by PearTree Securites Canada’s capital markets play a critical role in supporting the financing of mineral exploration in Canada and around the world. PDAC’s Capital Markets Program is intended to create a forum for learning and dialogue on a range of topics related to the financing of mineral exploration.

For more information, visit www.pdac.ca/convention/programming/capital-markets-program

MONDAY, MARCH 2

TUESDAY, MARCH 3

9:15 am – 9:25 am

9:15 am – 10:15 am

WELCOME AND OPENING REMARKS

FINANCING TRENDS AND INVESTMENT DYNAMICS IN MINERAL EXPLORATION

9:25 am – 10:45 am SECURITIES REGULATION UPDATE: REGULATORY BURDEN REDUCTION AND RECENT TRENDS & ISSUES AFFECTING MINERAL ISSUERS

10:45 am – 11:45 am BRINGING GENERALISTS BACK TO GOLD

MONDAY, MARCH 2 9:35 am - 11:35 am Exploration success has been declining since the start of the 21st century. However, key tier one deposits have been discovered and put into production. Mark Bristow, Barrick Gold Corporation; Joe Ovsenek, Pretium Resources Inc. and Robert Friedland, Ivanhoe Mines Ltd. will outline how this was possible, what were the keys to success and what are the keys for discovery in the future. For more information, please visit www.pdac.ca/convention/programming/ keynote-program

INDIGENOUS PROGRAM

FINANCING THE MINERAL INDUSTRY: INVESTMENT BANKER PERSPECTIVES

DIGGING DEEPER INTO RESPONSIBLE INVESTMENT: HOW ARE INVESTORS INTEGRATING ENVIRONMENTAL, SOCIAL AND GOVERNANCE FACTORS AND WHAT DOES IT MEAN FOR THE GLOBAL MINERAL SECTOR?

The Indigenous Program provides a platform for discussion on fostering cooperative, respectful and mutually-beneficial relationships between Indigenous communities and the minerals industry. This program brings Indigenous communities and Indigenous-owned companies together with the industry and other interested parties to share experiences, exchange ideas and network.

2:00 pm – 3:00 pm

3:30 pm – 4:30 pm

CAPITAL MARKETS REGULATORY AUTHORITY: MINERAL INDUSTRY BENEFITS FROM HARMONIZED REGULATION

EXPANDING YOUR HORIZONS INTERNATIONALLY: TARGETING A WORLDWIDE INVESTOR BASEDEBT

For more information, visit www.pdac.ca/convention/ programming/Indigenous-Program

11:00 am – 12:15 pm

2:00 pm – 3:00 pm

MONDAY, MARCH 2 9:00 am - 11:30 am

3:30 pm – 4:30 pm

THE MINERAL INDUSTRY AND INDIGENOUS COMMUNITIES: LESSONS FROM CANADA AND ABROAD

CREEPING EXPROPRIATION: HOW GOVERNMENT POLICY RISK OVERSEAS IS IMPACTING ACCESS TO CAPITAL

2:00 pm - 4:30 pm THE INDIGENOUS FORUM: PLANNING FOR THE FUTURE

CORPORATE PRESENTATION FORUM FOR INVESTORS Sponsored by Endeavour Financial

MONDAY & TUESDAY, MARCH 2-3

Hear exploration and development companies present up-to-the-minute information on their current activities and investment potential. For more information, visit www.pdac.ca/ convention/corporatepresentationforum

10:00 am - 4:15 pm (Monday) 10:00 am - 3:30 pm (Tuesday)

CUTTING EDGE SUNDAY, MARCH 1 1:00 pm – 5:00 pm This stage will be located in the Investors Exchange, where unique and innovative ideas will be presented. This is a great opportunity to be exposed to some forward-thinking ideas you may not have considered.

EXPLORATION INSIGHTS Sponsored by IBK Capital Corp.

TUESDAY, MARCH 3 Selected from a call for abstracts, these technical, policy and academic presentations offer insights into current and topical subjects. For a complete schedule, visit www.pdac.ca/ convention/explorationinsights

The session will be followed by a networking reception from 4:305:30 pm, sponsored by Fasken

TUESDAY, MARCH 3 9:00 am - 12:00 pm INDIGENOUS LAW AND REGULATORY FRAMEWORKS: NAVIGATING A DYNAMIC LANDSCAPE 2:00 PM - 4:30 PM INDIGENOUS BUSINESSES & THE MINERAL INDUSTRY: PROSPERITY THROUGH PARTNERSHIPS 6:00 pm - 10:00 pm SKOOKUM JIM AWARD PRESENTATION: AWARDS GALA & AFTER PARTY Admission with ticket

Visit www.pdac.ca/convention/programming/cutting-edge for more details and to apply.

FRANCO-MINE SUNDAY, MARCH 1 2:30 pm – 5:00 pm Event is in French only Enjeux, défix et opportunités de la prochaine décennie dans le secteur minier africain. En collaboration avec le gouvernement du Canada, le Conseil canadien pour l’Afrique, Export Québec, et CIM, Franco-Mine offre une plateforme d’échanges en français entre les délégués africains et canadiens et autres participants à PDAC.

TSX.V: PRB

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www.probemetals.com

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2020 PDAC 2020: The World’s Premier Mineral Exploration & Mining Convention March 1-4 Metro Toronto Convention Centre, Toronto, Canada REGISTER AT WWW.PDAC.CA/CONVENTION

STUDENT & EARLY CAREER PROGRAM Student & Early Career Centre, How to Impress for Success, Flash Mentoring and Student-Industry Networking Luncheon Sponsored by The Lundin Group For more information, visit www.pdac.ca/convention/programming/Student-Early-Career-Program CONVENTION TRAVEL FUNDING The PDAC has established a travel fund to help student groups cover some of the costs associated with travelling to Toronto to attend the convention. Funding is allocated on a first-come, first-served basis and available to PDAC student members in good standing. The application is available at www.pdac.ca/ convention/programming/StudentEarly-Career-Program

VOLUNTEER OPPORTUNITIES Save money and network with industry professionals while at the convention! Volunteer your time in exchange for a complimentary Student All Access Pass, a ticket to the Student-Industry Networking Luncheon, a gift card, food vouchers and more. Sign up today at www. pdac.ca/convention/volunteers

PDAC-CIM TORONTO BRANCH GUIDED TOURS Meet some of the 1,100+ companies that exhibit in the Trade Show and Investors Exchange by taking a guided tour of the exhibits. Each tour stop will allow you to learn about the focus of the organization’s projects and potential career opportunities.

www.pdac.ca/members/students/ pdac-convention-2020

Early Career Category: 2:00 pm – 5:30 pm Hosted by Next Gen Geo and PDAC, the Prospect Generation Challenge is a “Dragons’ Den” style event for students and early-career geoscientists to pitch their original ideas for mineral exploration prospects. Five finalists will be chosen in advance for each of the two categories (undergraduate & early career). They will compete for cash prizes and investment as they present their ideas to the judges and an audience at PDAC 2020. Visit the website for more information: https://nextgengeo.ca/ index.php/programs/challenge/

SUNDAY, MARCH 1 10:30 am – 12:00 pm HOW TO IMPRESS FOR SUCCESS How to Impress for Success is an interactive event designed to help students and graduates effectively and confidently navigate their way around the convention. Attendees will practise networking techniques for meaningful interactions with industry and learn what types of questions to ask and most importantly, how to follow up after an event. The presentation is suitable for students, graduates and professionals.

2:00 pm – 4:00 pm SATURDAY FEBRUARY 29 PROSPECT GENERATION CHALLENGE Undergraduate Category: 9:00 am – 12:30 pm

MONDAY, MARCH 2 9:30 am – 11:30 am {DE}RISK – PROJECT STRATEGY FOR JUNIOR EXPLORERS An interactive exercise targeted towards students and early career professionals, who are interested in how strategic decisions are made to advance an exploration project.

1:30 pm – 4:00 pm A STUDENT GEOLOGIST’S GUIDE TO THE EXPLORATION AND MINING INDUSTRY This event is designed to help students successfully transition from the classroom to the workforce. Speakers from various areas of the industry will share their experiences and discuss what they look for when hiring students and recent graduates. Participants will also gain insight into understanding the economics of the sector, expectations of your first job, pitfalls to avoid, and the lifestyle associated with working in exploration and mining. TUESDAY, MARCH 3

FLASH MENTORING

11:30 am – 1:30 pm

Flash Mentoring is a one-time meeting and discussion with industry mentors. This event is open to final year undergraduate students, graduate students and recent graduates. Registration online at

STUDENT-INDUSTRY NETWORKING LUNCHEON

RI AT VIS NG B IT RO OOT US UN H 2 D 16 UP 20 2

This reception-style buffet luncheon provides an opportunity for students and early career professionals to connect with industry professionals in a relaxed environment. The winners of the Mary-Claire Ward Geoscience Award and the Joan Bath and Peter Howe Bursary for Advancement in the Mineral Industry will be announced, as well as the selected 2020 Student-

Industry Mineral Exploration Workshop (S-IMEW) participants. RSVP when you register for convention.

10:00 am – 6:00 pm PDAC-SEG STUDENT MINERALS COLLOQUIUM The Student Minerals Colloquium (SMC) brings together geoscience

students and industry professionals to highlight innovative student research on projects essential for the successful evolution of the modern mining industry. This event provides industry professionals with an opportunity to support and stay current with ongoing international research from students across the world.

Cocktail Reception: 3:00 pm – 6:00 pm Prizes will be awarded at 5:00 pm

INTRODUCING FAST

TRANSFORMING THE WAY YOU EXPLORE & PRODUCE YOUR PRODUCT Field Analytical Services and Testing (FAST) takes instruments into the field on-site, even the most remote areas, provides data in 24 to 48 hours and enables you to make decisions quicker than ever before. TO LEARN MORE ABOUT FAST, VISIT BOOTH 216 AT ROUND UP 2020! SGS IS THE WORLD’S LEADING INSPECTION, VERIFICATION, TESTING AND CERTIFICATION COMPANY

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

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2020

PDAC 2020: The World’s Premier Mineral Exploration & Mining Convention March 1-4 Metro Toronto Convention Centre, Toronto, Canada REGISTER AT WWW.PDAC.CA/CONVENTION

SHORT COURSES

INVESTOR TOOLKIT SERIES Sponsored by Sprott Inc. and Peter Bojtos

Need professional development hours to maintain your professional designation? PDAC will provide a certificate of completion for Short Courses to help you meet your PD hour requirements. For more information and to register, visit www.pdac.ca/convention/programming/short-courses

SUNDAY, MARCH 1 10:00 am – 12:00 pm

FRIDAY, FEBRUARY 28

BUILDING AN INVESTOR TOOLKIT: PRACTICAL TIPS SEMINAR (NEW) This seminar will feature a series of professionals who will offer practical tips on how to start investing in the mineral industry to increase the odds of making money on investments. How to put the first dollar to work, types of investment platforms, relevant terminology, and impactful news flow will be put into context to help build out the investor toolkit. The seminar will provide attendees with greater confidence in engaging mineral exploration and mining companies, and identifying investment opportunities at the convention. Speakers include: • Nicholas LePan, Mining Editor for Visual Capitalist • Lisa Davis, Partner, PearTree Financial & CEO, PearTree Securities

LETTER WRITER PRESENTATIONS FOR INVESTORS Listen to industry commentators present their market research and ideas on how to select good investments in the resource sector.

PDAC ONE ON ONE MEETING PROGRAM TUESDAY & WEDNESDAY, MARCH 3-4 8:00 am – 5:00 pm (Tuesday) 8:00 am – 12:00 pm (Wednesday)

PDAC partners with Precious Metals Summit Conferences, LLC every year to offer professionally organized one on one meeting services to bring qualified investors together with senior management. Meetings are 25 minutes in duration and take place in private meeting rooms, providing investors the opportunity to efficiently conduct meetings and derive maximum value from their time spent at the convention. This exclusive program is available only to a select group of PDAC Investors Exchange Exhibitors, and carefully screened, qualified investors and portfolio managers from around the world. Advance registration is required. For more information, visit www.pdac.ca/ convention/programming/pdac-one-on-one-meeting-program/

PRESENTATION ROOMS

• • • • • • • • •

•

8:30 am – 5:00 pm MINING FINANCIAL MODELING

9:00 am – 5:00 pm GEOLOGICAL INTERPRETATION OF AEROMAGNETIC DATA ORGANIZER: Southern Geoscience Consultants

FRIDAY, FEBRUARY 28 AND SATURDAY, FEBRUARY 29

CONCEPTS AND APPLICATION OF MACHINE LEARNING TO MINING GEOSCIENCE: A PRACTICAL COURSE ORGANIZER: SRK Consulting (Canada)

CONFIRMED 2020 PRESENTATION ROOMS TO DATE:

• •

ORGANIZER: Parsons Behle & Latimer

8:30 am – 4:30 pm

Interact with countries and companies as they provide up-to-date information on their mining jurisdictions, products and services. For room descriptions and registration requirements, visit www.pdac.ca/convention/ presentationandreceptionrooms

•

ORGANIZER: GOLDER ASSOCIATES LTD.

ORGANIZER: The Marquee Group