The Northern Miner July 8 2019 Issue 14

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Orla completes study on Camino Rojo in Mexico GOLD

| Junior sees more exploration potential on property

BY TRISH SAYWELL tsaywell@northernminer.com

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rla Mining’s (TSX: OLA) Camino Rojo open-pit project in Zacatecas, Mexico, would produce 97,000 oz. gold annually over seven years and could be built for US$123 million, a new feasibility study concludes.

The study envisions a simple heapleach operation that could repay initial capex in three years at precious metal prices of US$1,250 per oz. gold and US$17 per oz. silver, and deliver an after-tax net present value — at a 5% discount rate — of US$142 million, and a 28.7% internal rate of return.

Camino Rojo, 3 km from a fourlane highway and 190 km from the city of Zacatecas, would be the company’s first mine, and would operate at a throughput rate of 18,000 tonnes See ORLA / 6

Finished copper at Kamoto Copper Co.’s Kamoto project, 12 km west from Kolwezi in the Democratic Republic of the Congo. KATANGA MINING PM40069240

Glencore: 19 artisanal miners dead in DRC TRAGEDY

| KOV copper mine averaged 2,000 artisanal “intrusions” a day

BY TRISH SAYWELL tsaywell@northernminer.com

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lencore (LON: GLEN) says 19 illegal artisanal miners have died, “with possible further unconfirmed fatalities,” when two galleries caved in at Kamoto Copper Co.’s KOV open-pit copper mine in the Democratic Republic of the Congo (DRC).

The mine has experienced “daily intrusions onto its concession by on average 2,000 illegal artisanal miners per day,” the Switzerland-based commodities giant said in a news release, adding that the situation

“has presented a significant risk to its employees, operating equipment and the illegal artisanal miners themselves.”

Kamoto Copper Co. “has observed a growing presence of illegal artisanal miners throughout its industrial mining concessions in the Kolwezi area,” Glencore said.

The tragedy has not impacted production, the company noted.

The KOV mine is owned 75% by Kamoto Copper Co. and 25% by the DRC’s state-owned Gécamines. Katanga Mining (TSX: KAT) owns 75% of Kamoto Copper Co., and Glencore owns 85% of Katanga Mining.

Katanga’s assets in the DRC in-

clude the KOV open-pit mine and the Kamoto underground mine, Kamoto concentrator, and the Luilu metallurgical plant for the on-site production of refined copper and cobalt. Katanga describes the KOV open-pit mine as “the largest highgrade copper resource in the world.”

It is made up of four orebodies — Kamoto East, Oliveira, Virgule and FNSR — and accessed by the Kamoto East and KOV pits. The Kamoto East pit operated from 1960–1985, and the adjacent KOV pit began production in 1983.

Edward Sterck, a mining analyst at BMO Capital Markets in London, said in a research note that while

“exact numbers are hard to come by,” the KOV open pit “is believed to contribute around two-thirds of the ore processed at Katanga.”

INTRUSIONS ONTO ITS CONCESSION BY 2,000 ILLEGAL ARTISANAL MINERS PER DAY ... HAS PRESENTED A SIGNIFICANT RISK. See GLENCORE / 2

ARGENTINA: COURT UPHOLDS GLACIER PROTECTION LAW / 5

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2019-07-02 8:08 PM

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SSR Mining acquires past producers GOLD

| Will incorporate properties into longer-term mine planning at Marigold

BY TRISH SAYWELL

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tsaywell@northernminer.com

SR Mining (TSX: SSRM; NASDAQ: SSRM) is acquiring from Newmont Goldcorp (TSX: NGT; NYSE: NEM) and Fairmile Gold Mining two past-producing gold operations to the south of its Marigold mine in Nevada for US$22 million, and a 0.5% net smelter return royalty to Newmont on each of the properties.

The 89 sq. km land package includes the Trenton Canyon property south and along trend from Marigold, which operated as an open-pit, heap-leach operation between 1996 and 2001, and Buffalo Valley, to the southwest, which operated between 1989 and 1991.

“With the mega-mergers that were completed earlier on in 2019, we had flagged Nevada as a region where SSR could potentially pick up some prospective land, and we view [the] transaction favourably from SSR’s perspective, as a lower-risk, and lower-cost way to grow its assets,” CIBC mining analyst Cosmos Chiu says in a research note to clients.

President and CEO Paul Benson expects the acquisition will increase the company’s gold resources and “add multiple zones of mineralization proximate to our Marigold mine infrastructure.”

SSR Mining will explore the new ground “in the near-term” and begin “incorporating the properties into our longer-term mine planning, as we evaluate opportunities to continue creating value at Marigold for our shareholders.”

Exploration plans aim to “upgrade and expand known gold mineralization to potentially extend mine life, increase operating flexibility or access higher-margin tonnes,” Benson says.

Previously wholly owned by Newmont, Trenton Canyon produced 290,000 oz. gold from its Peak West and South pits, and the property includes the North Peak heap-leach pads and processing facilities.

Buffalo Valley, which operated as a joint venture between Newmont (70%) and Fairmile, produced 50,000 oz. gold. Buffalo Valley has historic indicated resources of 20 million tonnes grading 0.65 gram gold per tonne for 418,000 contained oz. gold.

A drill rig at SSR Mining’s Marigold gold mine in Humboldt County, Nevada. SSR MINING

Trenton Canyon and Buffalo Valley host the same rock formations as the Marigold mine, and SSR Mining says they display a “higher intensity of rock alteration.”

Historic exploration on the two properties includes 2,700 drill holes totalling more than 340,000 metres between 1980 and 2012.

Production at the Marigold mine last year totalled 205,161 oz. gold, and the company expects it will produce between 200,000 and 220,000 oz. gold in 2019.

SSR Mining acquired Marigold, which is situated on the Battle Mountain-Eureka trend in Humboldt County, in April 2014.

In production since 1989, Marigold is a large, run-of-mine, heapleach operation with several open

pits, waste-rock stockpiles, leach pads, a carbon-absorption facility, and a carbon processing and goldrefining facility. The gold doré bars produced at the mine are shipped to a third-party refinery.

In addition to its Marigold mine, SSR Mining owns the Seabee gold operation in Saskatchewan, Canada, and a 75% stake in the joint-venture Puna operations in Argentina’s Jujuy province.

The Seabee operation, 125 km northeast of the town of La Ronge in northern Saskatchewan, makes gold doré bars that are shipped to a third-party refinery. SSR Mining picked up Seabee in May 2016 as part of its acquisition of Claude Resources.

The Puna joint venture includes

“[WE WILL INCORPORATE] THE PROPERTIES INTO OUR LONGER-TERM MINE PLANNING AS WE EVALUATE OPPORTUNITIES TO CONTINUE CREATING VALUE AT MARIGOLD FOR OUR SHAREHOLDERS.” PAUL BENSON PRESIDENT AND CEO, SSR MINING

the Pirquitas processing facilities, and SSR Mining is the operator. The silver-lead-zinc Chinchillas mine entered commercial production in December 2018, and has an eightyear mine life.

SSR Mining also has two feasibility-staged projects: San Luis

in Peru, and Pitarrilla (its own discovery) in Mexico.

SSR Mining has traded in a 52-week range of $10.71 to $20 per share. The company has 121 million common shares outstanding for a $2.2-billion market capitalization. TNM

Glencore: 19 artisanal miners dead in DRC GLENCORE From 1

Sterck also noted that Katanga Mining contributes 14% of Glencore’s net present value, and is forecast to produce 269,000 tonnes copper and 24,000 tonnes cobalt (on a 100% basis) in 2019, adding that “preventative action will likely be needed, and it could impact Glencore’s social licence to operate.”

When Glencore reported its firstquarter 2019 results in April, it noted that Katanga Mining was “managing through a period of generally excess uranium content in its cobalt material, thereby constraining exports.

“Katanga made no cobalt sales in the first-quarter 2019,” Glencore said. “From April 2019, the export of a limited quantity of cobalt, complying with appropriate regulations, was allowed to resume. Such resumption of exports remains subject to the

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KATANGA AGREED TO PAY $28.5M TO ADVANCE THE OSC’S MANDATE OF PROTECTING INVESTORS, AND $1.5M TOWARDS OSC’S INVESTIGATION. relevant DRC export procedures, which include continued monitoring by the relevant authorities.”

Of Glencore’s 9,900 tonnes of cobalt production in the first quarter, Katanga contributed 3,500 tonnes.

In December 2018, the Ontario Securities Commission (OSC) fined Katanga along with former members

of its board of directors, including Aristotelis Mistakidis, Glencore’s then head of copper trading, for disclosure violations and internal control failures that led to the company making misleading financial disclosures to investors.

In a settlement with the OSC, Katanga Mining admitted that between January 2012 and January 2017, it had failed to internally control financial reporting, as well as disclosure and procedures.

Former members of its board of directors — Mistakidis, Tim Henderson and Liam Gallagher, along with former chief financial officers Jacques Lubbe and Matthew Colwill, former director and CEO Jeffrey Best, and then director and CEO Johnny Blizzard — admitted they engaged in conduct that undermined Katanga’s corporate governance and internal controls, and a culture of compliance

that resulted in Katanga overstating US$41.8 million copper-cathode production in the DRC. The individuals also said their actions resulted in improperly capitalizing impaired ore and overstating concentrate inventories totalling US$122 million.

“Ga llagher, Henderson and Mistakidis served as Glencore’s nominee directors on Katanga’s board of directors and exercised significant influence over operational and financial decisions at Katanga,” OSC says in its Dec. 18, 2018 news release. “Together with Katanga’s officers, they admit to conduct that undermined Katanga’s internal controls, resulting in Katanga failing to comply with Ontario securities laws.”

Katanga agreed (separately from its directors and officers) that it failed to disclose material risks to its business, the OSC said, spe-

cifically the elevated risk of public sector corruption in the DRC and the nature and extent of Katanga’s reliance on individuals and entities associated with Dan Gertler.

“Gertler’s close relationship with Joseph Kabila, the president of the DRC, and allegations of Gertler’s possible involvement in corrupt activities in the DRC, were referred to in media and non-governmental reports,” the OSC says.

As part of its settlement, Katanga Mining agreed to make a voluntary payment of $28.5 million to advance the OSC’s mandate of protecting investors, and agreed to pay $1.5 million towards OSC’s investigation.

At the time, Glencore said in a press release that it was “disappointed by the conduct that led to the settlement,” and that it had “taken appropriate remedial actions in response to this conduct.” TNM

2019-07-02 8:08 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / JULY 8–21, 2019

In the core shack at Integra Resources’ DeLamar gold property, from left: Tim Arnold, VP of project development; Kim Richardson, project consultant and former mine superintendent; and Stephen de Jong, chairman. INTEGRA RESOURCES

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Tom Jordan, project operations manager, at Integra Resources’ DeLamar gold project in southwest Idaho. INTEGRA RESOURCES

Integra upgrades resource at DeLamar in Idaho GOLD-SILVER

| Junior aims to complete PEA by September “WE WERE ABLE TO UPGRADE THE RESOURCE TO MEASURED AND INDICATED WITHOUT LOSING GOLD AND SILVER OUNCES IN THE CONVERSION PROCESS.”

BY TRISH SAYWELL

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tsaywell@northernminer.com

n less than 18 months since acquiring the DeLamar project in southwestern Idaho, Integra Resources (TSXV: ITR; US-OTC: IRRZF) has upgraded 90% of its global resource from the inferred to the measured and indicated category, and the company is on track to complete a preliminary economic assessment before the end of September.

“We were able to upgrade the resource to measured and indicated without losing gold and silver ounces in the conversion process, which is not often the case in resource estimation,” commented George Salamis, Integra’s president and CEO. “The overall resources, in fact, have grown substantially since the last resource estimate, and the project now boasts close to 4 million equivalent oz. gold in measured and indicated and 0.5 million oz. gold equivalent in inferred resources, positioning it into a very rare group, as there are only a handful of projects in North America with this size of resource.”

The DeLamar project includes the DeLamar and Florida Mountain deposits, situated 8.5 km apart and connected by an all-weather haul road, 160 km from Boise.

Kinross Gold’s (TSX: K; NYSE: KGC) historic DeLamar mine produced 1.6 million oz. gold and 100 million oz. silver before it closed in 1998, due to low metal prices.

Historic underground mining at Florida Mountain from the 1830s to the 1910s produced 133,000 oz. gold and 15.4 million oz. silver. Kinross open-pit mined the deposit in the 1990s and produced another 124,500 oz. gold and 2.6 million oz. silver.

The mine closed the same year as DeLamar, and was put on care and maintenance.

Integra’s updated resource incorporates over 250,000 metres of historic drilling by Kinross Gold and its predecessors, and 30,000 metres (93 holes) done by Integra since the first quarter of 2018, which is the first exploration DeLamar has seen in 25 years.

Last year, Integra found a mineralization zone that was not fully explored by previous operators. The new zone, Sullivan Gulch, in addi-

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GEORGE SALAMIS PRESIDENT AND CEO, INTEGRA RESOURCES

Integra Resources’ vice-president of exploration Max Baker at the DeLamar property. INTEGRA RESOURCES

tion to successful drilling below and around the existing resource, has proven the company’s theory that the DeLamar deposit has potential for resource growth.

DeLamar’s resource stands at 172.37 million tonnes grading 0.43 gram gold per tonne and 21 grams silver per tonne, or 0.70 gram goldequivalent, for 2.38 million contained oz. gold and 116.51 million oz. silver for 3.88 million equivalent oz. gold. Inferred resources add 28.27 million tonnes grading 0.38 gram gold and 13.5 grams silver, or 0.55 gram gold-equivalent, for 343,000 contained oz. gold and 12.24 million oz. silver for 500,000 equivalent oz. gold.

DeLamar and Florida Mountain’s resources were constrained to lie within optimized pit shells created using metal prices of US$1,400 per oz. gold and US$18 per oz. silver. The DeLamar deposit resource was based on 1,528 historic reverse-circulation (RC) and diamond core holes, as well as 83 RC and diamond core

holes drilled by Integra. The Florida Mountain resource was based on 1,074 historic holes and 10 core holes by Integra. The historic holes were drilled from the mid-1970s to the late 1990s.

The company plans to drill 20,000 metres at the project this year — 6,500 metres of which will focus on Florida Mountain. Last year, Integra only drilled 3,400 metres at Florida Mountain due to its exploration drilling at Sullivan Gulch, which diverted resources.

This year, the drill program at Florida Mountain will try to find near-surface oxide and transitional extensions to the deposit that have never been drill tested north and south of the resource. The drilling will also delineate high-grade feeder zones found last year.

At DeLamar, another 2,600 metres of drilling has been completed since the resource estimate cut-off date of May 1, 2019, and the company has found multiple exploration targets on the periphery of the DeLamar

deposit, including Deadwood, Black Sheep, Milestone and Henrietta, in addition to Sullivan Gulch to the southeast.

Tara Hassan, a mining analyst at Raymond James, notes that 45% of the updated total resource falls within the oxide and transitional

categories. “This is an important element of the resource update,” she says in a research note, “as there is now a substantial portion of the resource that could be amenable to heap leaching, supporting our view that the project offers significant optionality from a development approach.

“We continue to view Integra to be one of our preferred development companies, given that it remains undervalued and well positioned to earn a market re-rating due to the potential for resource growth, the scale and optionality of its deposits, and its experienced and proven management team.”

At press time, Integra’s shares traded at 88¢ within a 52-week range of 61¢ to 95¢. The company has a $49-million market capitalization. TNM

2019-07-02 8:08 PM

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GLOBAL MINING NEWS · SINCE 1915

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| Reflections on the craft

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his is my second-last editorial for The Northern Miner, as I will soon depart to join gold miner Agnico Eagle Mines as a senior geologist in their Toronto head office, working on technical writing. Before I go, I’d like to pass on some lessons learned after 23 years at the Miner, including the past 14 years

BY JOHN CUMMING as editor-in-chief, beginning with some writjcumming@northernminer.com ing tips for aspiring business writers.

Three big questions — The following are the three most important questions a journalist can ask him- or herself about every bit of their writing: Is it true? Is it news?

And is it boring?

If you’re not 100% sure the statement is true, then never put it into your business writing. And there’s a world of difference between writing, “the company will mine 50,000 oz. gold next year” — which is a gamble on the future — and the far more truthful, “the company plans to mine 50,000 oz. gold next year.”

The second question arises with newer business writers, where what may be “news” to them may not be so to any industry veteran. In this case, the newer writer should simply count it as time spent on background research.

If your story survives the trial of first two questions, the answer to the third question may yet kill your story.

Churchill rule — Winston Churchill’s best writing advice is to use Anglo-Saxon words rather than Latin- or Greek-rooted words whenever possible. They’re shorter and punchier. This may be a tough habit to break for technically trained people who are used to writing phrases like “auriferous lacustrine sediment” instead of “gold-bearing lake mud.”

If you find you have four or five Latin-rooted words in a row, throw in an Anglo-Saxon replacement to liven up the sentence. If you don’t know the roots of words, get an Oxford English Dictionary and look up every word for which you don’t know the root.

Write for the ear, and read your copy out loud before publishing it. If you can’t finish a sentence in one breath, it’s probably too long.

Fight for brevity wherever possible to make the writing livelier and show respect for your readers’ valuable time. In every sentence, fight to reduce word count, letter count and syllable count. It’s the literary equivalent of making maple syrup — boil off the excess to intensify the remaining flavour.

For timeless writing advice, read The Elements of Style by Strunk & White, and for nuts and bolts journalism tips, the most recent edition of the Canadian Press Stylebook will do.

Keep your humanity — Get everyone’s name and job titles correct, even if it’s extra work to track down someone at the back of a photo.

Get the correct pronunciation of names beforehand if recording audio.

Have respect for people’s work and effort, even if it has led to failure, and never be flippant.

Your business stories should have people front and centre, and their decisions and effort pushing events forward. Write in the active rather than passive voice so it is clear who is responsible for any action.

In business writing there should be no ambiguity of meaning or excess cleverness, and when writing for an industry like mining, keep in mind that the many readers have English as a second language and are living in a different country, season or time zone than the writer.

Evoke emotions, but don’t tell people how to feel — Writing that evokes emotions in readers is more appealing, so even a business writer needs to have an idea about what they’re doing in this area. Evoking curiosity, especially in a headline, is a great place to start in business writing if no other emotion comes immediately to mind.

There is fine line, however, in writing to evoke emotions and the mistake of telling people how to feel. For instance, a mining-equipment supplier and an environmentalist may have very different emotions to the same news of an open-pit mine being built in their backyard.

So give room in your writing for a variety of emotional responses from readers. Less refined, boosterish mining reporting, for instance, would frame a new open-pit mine as an unquestionable good for the area, when reality is never that simple.

Getting a job in business writing — For anyone applying to work as a business journalist, make sure you thoroughly research the media outlet where you’re seeking employment, and tailor your resume, cover letter and interview strategy to each potential employer and their needs. That way, you’re demonstrating the same skills you’d use

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O P- E D

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

Professional Directory. . . . . . . . . . . . . . . 17 Stock Tables. . . . . . . . . . . . . . . . . . . . . 20-23

COMPANY INDEX Anglo American. . . . . . . . 5 Avalon Rare Metals. . . . . 11 Barrick Gold. . . . . . . . . . . . 5 B2Gold. . . . . . . . . . . . . . . . . 8 Cobalt 27 Capital. . . . . . . . 9 Codelco. . . . . . . . . . . . . . . . 5 Cruz Cobalt . . . . . . . . . . . 11 First Cobalt. . . . . . . . . . . . 13 Glencore . . . . . . . . . . . . . 1,5 Global Energy Metals. . . . 9 Iamgold. . . . . . . . . . . . . . . 15 Integra Resources. . . . . . . . 3

Katanga Mining. . . . . . . . . 1 Kinross Gold. . . . . . . . . . . . 3 McEwen Mining . . . . . . . . 5 MGX Minerals. . . . . . . . . 11 Neo Lithium. . . . . . . . . . . 11 Nevada Sunrise gold. . . . . 9 Newmont Goldcorp . . . 2,5 Nouveau Monde Graphite.

11 Orla Mining. . . . . . . . . . . . 1 Power Ore. . . . . . . . . . . . . 12 Red Pine Exploration 16

Spearmint Resources. . . . 11 SSR Mining. . . . . . . . . . . . . 2 Vale. . . . . . . . . . . . . . . . . . . . 9 Yamana Gold . . . . . . . . . . . 5 YDreams Global Interactiv Tech. . . . . . . . . . . . . . . . . . 11

Chromium markets suppressed with ongoing surplus ore supply, Roskill says METALS COMMENTARY

| South African platinum miners step up by-product chromium production The following is an edited release

by London-based metals market consultants Roskill. For more information, visit www.roskill.com.

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he current price for primary South African chrome ore of US$170 per tonne (CIF China), places around the 80th percentile of the chrome ore cost curve for supply sent to China.

Exporters of chrome ores experienced tightening margins in 2018, when the price declined to the 90th percentile based on an average annual price, although prices had already reached their present-day low level in August 2018, making the highest-cost producers unprofitable for over 10 months.

A surge to over 21 million tonnes of chrome ore supply from South Africa — the largest chrome-ore producing country, with the largest resources and reserves — has kept the market in a surplus over 2018, which we at Roskill estimate on the order of 1 million tonnes of contained chromium — equivalent to 3.5 million tonnes of metallurgicalgrade chrome ores.

The higher supply from the country was encouraged following a three- to four-fold price spike in the fourth quarter of 2016, and ensuing price volatility over 2017, and into the first half of 2018.

Despite the declining price over 2018, South African supply continued to increase, and Roskill expects the surplus market will only partly be eroded in 2019.

Much of the increase in supply has come from cheaper by-product chromite concentrates such as South African UG2 chrome ores, which are extracted with platinum group minerals.

The stagnating platinum indus-

DEMAND FOR CHROMIUM REMAINS STRONG, AS CONSUMPTION IS DIRECTLY LINKED TO THE PRODUCTION OF STAINLESS STEEL. try has encouraged UG2 miners to improve company financials with by-product chromium credits, and, as a result, Roskill forecasts the use of available UG2 ores will increase over 70% in 2019, up from below 50% a decade ago.

One of the key questions regarding the outlook of chrome ore supply hangs around the potential growth of cheaper UG2 ores. The scale of UG2 mining is linked to the performance of the platinum industry, and Roskill forecasts the level of UG2 chrome ores will reach a ceiling in the second half of the 2020s.

The fundamental demand for chromium remains strong, with consumption linked to stainless steel production. Stainless steel production, which accounts for 78% of chromium demand, could grow at a compound annual growth rate (CAGR) of 3.1% over the next 10 years, albeit significantly reduced, compared to the 5.8% CAGR of the last decade.

Nevertheless, an overshadowing surplus supply will have to keep pace with growing demand.

Roskill’s chromium market analysis forecasts the industry will move beyond the UG2 potential in 2027, which could refocus the attention back on primary ore suppliers. TNM

Editorial: how to write while working for them as a journalist, where you would research companies and people every day. The employer is only interviewing people they think can do the job, so only proving you can do the work isn’t enough. You need to show why you should be hired.

Potential employers aren’t all that interested in how a position will help you in your personal growth story. They want to know how you can make a contribution to the company in the near-term, and bring in more revenue than the cost of employing you. TNM

2019-07-02 8:08 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / JULY 8–21, 2019

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Argentina court upholds glacier protection law ENVIRONMENT

BY TOM AZZOPARDI

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Special to The Northern Miner SANTIAGO, CHILE

n a landmark ruling, Argentina’s Supreme Court has upheld radical legislation to protect the country’s glaciers, with major implications for the mining industry.

The 2012 law aims to ban all harmful activity from glacial and peri-glacial environments identified through a nationwide survey.

Barrick Gold (TSX: ABX; NYSE: GOLD) and the pro-mining government of San Juan province had sued to have the legislation declared unconstitutional, as it breached the company’s right to undertake mining. The western province is home to both the Canadian company’s Veladero gold mine and half of its cross-border Pascua-Lama gold project.

But in a judgment issued on June 4, the Supreme Court judges dismissed claims that the law would harm the company’s interests.

Unsurprisingly, the ruling has been celebrated by environmentalists.

“We are not opposed to mining, just the destruction of glaciers which an important source of water in semi-desertic regions,” Gonzalo Strano, a spokesman for Greenpeace Argentina, told The Northern Miner.

Authorities in Buenos Aires, who view mining as a sector that could help the struggling economy out of its latest slump, were more cautious.

While the Supreme Court ruling offered legal certainty, Carolina San-

| Projects by Barrick, Glencore, McEwen, Newmont and Yamana could be affected chez, Secretary for Mining Policy, noted that concern for the glaciers had to be balanced with the country’s investment needs.

“Environmental protection and developing mining are both state policies in Argentina,” she stated.

A spokeswoman for Barrick Gold said only that the company was now studying the impact of the decision.

There is little doubt that the ruling has serious implications for mining projects developed in Argentina, especially in the mineral-rich Andes Mountains.

A leaked government document from 2016 published by Greenpeace Argentina found 44 mining projects potentially affected by the Glacier Protection Law. While most are early-stage prospects, the list also includes Veladero, Pascua-Lama, Glencore’s El Pachon copper-moly-silver project, McEwen Mining’s (TSX: MUX; NYSE: MUX) Los Azules porphyry copper project and the Agua Rica coppermoly-gold-silver deposit, now under consideration by the owners of the Alumbrera mine (Glencore, Newmont Goldcorp [TSX: NGT; NYSE: NEM] and Yamana Gold [TSX: YRI; NYSE: AUY]).

McEwen Mining did not respond to questions from The Northern Miner about the impact of the law on the Los Azules project.

The company’s 2013 preliminary economic assessment for Los Azules said that several small “rock glaciers” have been identified on the property, but these had not been and would not “be impacted by the company’s

Barrick Gold’s Veladero gold mine in San Juan province in west-central Argentina. BARRICK GOLD

future exploration activities, or the development of a mining project.”

The crux likely depends on how the law is implemented.

For environmentalists, the ruling means the law should be imposed forthwith, blocking all mining activity on and around glaciers.

“There’s now no excuse, the law must be fulfilled,” Strano said.

Top of their wish list is closing Veladero, which has long been under fire for its patchy environmental record, especially for a series of spills

Tourists at a viewpoint overlooking the Perito Moreno Glacier in Patagonia, southern Argentina. ISTOCK/STEVEALLENPHOTO

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FOR ENVIRONMENTALISTS, THE RULING MEANS THE LAW SHOULD BE IMPOSED FORTHWITH, BLOCKING ALL MINING ACTIVITY ON AND AROUND GLACIERS. of cyanide solution into local rivers.

But responsibility for imposing the law lies with Argentina’s provincial government, which has varying approaches to mining. While governments in San Juan and Salta are broadly pro-mining, other provinces offer more difficult terrain for mining companies, imposing bans on open-pit mining, mining in mountainous areas or the use of key chemicals to halt the industry’s advance.

Following the ruling, Secretary Sanchez promised the government will “work with the provinces to strengthen the mining sectors — which is still in its infancy in our country — while protecting natural resources.”

But attempts by President Mauricio Macri’s government to homogenize mining policy on a national basis to attract investors have made little progress so far.

As a result, implementation of the law will not mean a blanket ban on all projects located near glaciers, experts say. Instead, each project will have to be assessed according to its individual situation, as well as the criteria of local provincial authorities.

“It’s definitely not a good ruling for the mining industry, but the impact will differ case by case. It’s going to affect projects, but it’s difficult to say which ones, and how,” explained mining lawyer Florencia Heredia of Allende & Brea.

Argentina is not the only Andean country concerned by the impact of mining activity on glaciers.

Similar legislation to the Argentinean law is being considered by Chilean lawmakers.

As a decade-old drought takes its toll on the country’s water supplies, farmers and environmentalists view protecting a disappearing water source as an imperative.

At stake could be the future of some of the country’s largest mines.

Although President Sebastian Pinera’s pro-business government said last year that it would not back the bill, the legislation is nevertheless making progress through the opposition-controlled Congress.

In early June, senators voted overwhelmingly in favor of debating the bill. Lawmakers and the government now have until the end of June to present amendments before the bill is debated in detail by the Senate’s Environment and Mining Commissions.

Mining projects at risk include the neighbouring Andina and Los Bronces copper mines — controlled

by Codelco and Anglo American (LON: AAL), respectively — in the mountains outside of Santiago.

Codelco has already scaled back a major expansion of Andina so that it will not impact the glaciers that surround it, while Anglo has said it may drop a planned US$3billion expansion of Los Bronces, unless it can win over local communities who fear its impact on water supplies.

Following this month’s vote, Mines Minister Baldo Prokurica has announced the creation of a technical commission that will seek ways to conciliate mining activity with glaciers.

— Based in Santiago, Chile, Tom Azzopardi is a freelance business writer specializing in natural resources.

Glencore’s El Pachon copper-moly-silver project in Argentina’s San Juan province. GLENCORE

2019-07-02 8:08 PM

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JULY 8–21, 2019 / THE NORTHERN MINER

Orla Mining’s Camino Rojo gold project, 190 km from the city of Zacataces, Mexico. ORLA MINING

Orla completes study on Camino Rojo in Mexico ORLA From 1

per day, with total by-product cash costs of US$515 per oz. gold, and all-in sustaining costs of US$576 per oz. gold. Average gold recoveries are an estimated 64%.

Orla envisions construction starting in the first half of 2020 — once all the permits are received, and project financing is in place — with first production in mid-2021.

The company says all of the required permits are “substantially completed,” and that it plans to submit them in the third quarter of this year. It also notes that the area is “flat, and there are no known social or environmental impediments to mining,” and that “there are no residents within the area of the proposed development.”

Commenting on the positive feasibility study, Andrew Mikitchook of BMO Capital Markets notes that the project “meets the traits we look for in a development opportunity, including competitive grades, manageable capex and a fairly quick development timeline.”

The mining analyst also points out that the study “does not consider in its economic analysis the 7.3 million oz. sulphide resource immediately below the oxide, which we continue to view as future value for the company — but not included in the priority oxide development plan.”

Orla says it is working on studies to investigate the economic opportunities that may exist within the 7.3 million contained oz. gold in the sulphide measured and indicated resources, and is also trying to secure an agreement with the owner of the concession bordering Orla to the north, which “would allow for the open pit to extend onto the adjacent concession.” If such an agreement were reached, the company says, it would “result in an expanded pit with access to additional oxide and transitional material deeper into the pit, which would add to the mine life and/or annual throughput, with only modest equipment and infrastructure additions.”

In addition, there is exploration potential on its land package, the company says. It has title to mineral concessions covering a large area around the Camino Rojo deposit, and while overburden “makes exploration challenging,” the 2007 discovery of mineralization incorporated into the feasibility study and resource estimate “shows that shallow cover can hide very large, near-surface deposits.”

Management notes that inducedpolarization geophysics is the most useful tool to find more miner-

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A production water well pump test. ORLA MINING

alization, and that the company has recently surveyed a large area southeast of the resource, with plans to drill anomalies within the next couple of months.

In the meantime, it continues to discuss the project with various lenders and financiers.

The Camino Rojo deposit has intrusive-related, sedimentary strata-hosted, polymetallic gold, silver, arsenic, zinc and lead mineralization. The mineralized zones correspond to zones of sheeted sulphidic veins and veinlet networks, creating a bulk-mineable gold mineralization

Drill core at the Camino Rojo project. ORLA MINING

style, the company says.

The mineralization is almost completely oxidized to 120 metres’ depth, and then variably oxidized below (transitional to sulphide). The resource estimate was divided into oxide, high and low transitional, and sulphide material.

The leach resource has 94.6 million measured and indicated tonnes grading 0.71 gram gold per tonne, and 12.7 grams silver per tonne for 2.16 million oz. gold, and 38.80 million oz. silver. Inferred resources add 4.4 million tonnes grading 0.86 gram gold and 5.6 grams silver, for 119,800 oz. gold and 805,000 oz. silver.

The mill resource contains 258.8 million tonnes in the measured and indicated category grading 0.88 gram gold and 7.4 grams silver for 7.3 million contained oz. gold and 61.6 million contained oz. silver, along with 56.6 million inferred tonnes averaging 0.87 gram gold and 7.5 grams silver for 1.58 million oz. gold and 13.71 million oz. silver.

Orla has traded in a 52-week range of 85¢ to $1.55 per share, and at press time traded at $1.05.

The company has a $189-million market capitalization.

BMO’s Mikitchook has an “outperform” rating on the stock and a $2-per-share price target. TNM

2019-07-02 8:08 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / JULY 8–21, 2019

7

Diamonds in Canada Symposium 2019 I SCRAPBOOK

| Highlights from the second annual event in Toronto

n June The Nor thern Min e r a nd it s si s ter publication, Diamonds in Canada, hosted the second annual Diamonds in Canada Symposium at the TMX Broadcast Centre in Toronto. The event brings together investors and industry players interested in diamond exploration and mining.

Attendees at this year’s event heard from four featured speakers: Reena Ahluwalia, jewellery designer, artist and professor; Leon Daniels, president and CEO of Pa ngol i n Dia mond s; Chris Jennings, director of North Arrow Minerals; and Paul Zimnisky, independent diamond analyst and consultant. TNM

PHOTO CAPTIONS 1 Mark Shimell (at podium), project manager, Star Diamond. 2 John Cumming (L) editor-in-chief, The Northern Miner, interviews Leon Daniels, president and CEO, Pangolin Diamonds.

3 Miles Welch, manager of diamond secondary industry development, Government of Northwest Territories. 4 Reena Ahluwalia, jewellery designer, artist and professor. 5 Alisha Hiyate (L), editor, Diamonds in Canada, interviews Chris Jennings, director, North Arrow Minerals. 6 Ken Armstrong, president and CEO, North Arrow Minerals.

7 Paul Zimnisky, independent diamond analyst and consultant. PHOTOS BY GEORGE MATTHEW PHOTOGRAPHY

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B2Gold’s Fekola gold mine in southwest Mali, near the border with Senegal. B2GOLD

B2Gold plans expansion of Fekola MALI

BY TRISH SAYWELL tsaywell@northernminer.com

A

fter acquiring the Fekola gold project in southwestern Mali through a merger with Papillon Resources in 2014, B2Gold (TSX: BTO; NYSE-AM: BTG) started building the mine in 2015 and poured first gold in 2017.

In 2018, its first full year of commercial production, Fekola produced 439,068 oz. gold at cashoperating costs of US$337 per oz., and all-in sustaining costs (AISCs) of US$533 per ounce.

In addition, B2Gold increased Fekola’s resources in October 2018 to 92.81 million indicated tonnes grading 1.92 grams gold per tonne for 5.73 million contained oz. gold, and 26.50 million inferred tonnes grading 1.61 grams gold for 1.37 million contained oz. gold. The resource is open to the north and down-plunge.

The new resource extends the pit boundary 1.2 km north, and prompted the gold producer to launch a preliminary economic assessment (PEA) on the viability of increasing the mining rate and expanding throughput at the mill.

In March 2019, B2Gold completed the PEA, which, based on the larger resource, recommends an expansion of mill throughput to 7.5 million tonnes per year from the current base of 6 million tonnes per year.

“The results of the PEA on the expansion of Fekola were extremely robust, and it has been a nobrainer,” Clive Johnson, B2Gold’s president and CEO, declared on the company’s first-quarter conference call on May 8.

The PEA expansion would extend the mine life to 2030, even with the higher processing rate. The study points to annual gold production averaging over 400,000 oz. per year

Haul trucks in the pit at B2Gold’s Fekola gold mine. B2GOLD

1-16_JULY8_Main .indd 8

| Detailed mine plans expected later this year over the new life-of-mine, including 2019, with over 550,000 oz. per year over five years between 2020 and 2024.

“Given our view of the preliminary economic assessment that we filed, we think that it is going to make a significant increase in production, and we talked about averaging 550,000 oz. per year for five years starting next year, but we haven’t done the detailed mine plans,” Johnson said. “Those will come later in the year.”

Despite mining a larger open pit at slightly lower gold grades, the PEA envisions revised life-of-mine cash-operating costs and AISCs of US$465 and US$725. Low costs could last through the extended mine life, due to economies of scale from higher mining and processing rates, and the optimized mining schedule.

The study says that expanding the processing plant would cost US$50

million over 18 months, with half the capital spent in 2019, and the rest in 2020. The funds would come from the mine’s existing cash flow.

The expansion would involve increases to the ball mill power, and upgrades to other components, including a cyclone classification system, pebble crushers and more leach capacity to support the higher throughput rate.

To feed the expanded mine, the company plans to upgrade the mining equipment by US$60 million, which will be paid over five years as a lease.

In parallel with the expansion, B2Gold is studying the addition of a solar power plant, which may trim costs and carbon emissions, although Fekola’s power supply is enough to support the mill expansion. Fuel for the project makes up 30% of production costs, which is shared between the mining fleet and the mill.

“THE RESULTS OF THE PEA ON THE EXPANSION OF FEKOLA WERE EXTREMELY ROBUST, AND IT HAS BEEN A NOBRAINER.” CLIVE JOHNSON PRESIDENT AND CEO, B2GOLD

B2Gold plans to finish an updated life-of-mine plan by the end of the fourth quarter of 2019. In the meantime, it continues to drill to convert inferred resources into the indicated category.

In addition, it plans to start a large exploration drill program at Fekola in the third quarter of this year to test the Fekola North, Fekola South, Cardinal and Anaconda zones.

“We’re pretty excited about the ultimate potential of Fekola above and beyond large resources we’ve drilled so far,” Johnson said on the conference call. “That’s a real focus.”

This year, Fekola is on track to produce between 420,000 and 430,000 oz. gold at cash operating costs of US$370 to US$410 per oz., and AISCs of US$625 to US$665 per ounce.

Johnson said on the call that B2Gold is not interested in mergers and acquisitions (M&A), and prefers to focus on its own pipeline of projects.

“For four and a half years, I have been saying we’re not seriously looking at M&A. So let’s say it one more time: we’re not seriously looking at M&A,” Johnson declared. “We’ve a pipeline of projects [and] we’re very excited about the potential to build them ... some of it’s pretty immediate. One is, of course, the expansion at Fekola, which is underway. We expect it to kick in next year.”

Fekola, 500 km west of the capital city Bamako, near the border with Senegal, is owned 80% by B2Gold and 20% by the state of Mali. TNM

2019-07-02 8:09 PM

TECHNOLOGY METALS SPECIAL FOCUS

Global Energy Metals expands Nevada footprint COBALT

| Junior aims to develop deposits to supply electric vehicle makers

BY TRISH SAYWELL

G

Pala Investments offers $501M for Cobalt 27 M&A

| Vote on transaction in August

tsaywell@northernminer.com

lobal Energy Metals (TSXV: GEMC; US-OTC: GBLEF) struck an option agreement in January with Nevada Sunrise Gold (TSXV: NEV) to acquire 85% of the historic Lovelock cobalt mine and nearby Treasure Box properties — both of which contain battery minerals, including cobalt, nickel and copper — and are only a 90-minute drive from the Tesla-Panasonic Gigafactory 1, a lithium-ion battery and electric vehicle (EV) factory near Reno.

Since then, Global Energy has staked 18 claims, 11 of which adjoin the 70 pre-existing Lovelock cobalt mine project claims in Churchill County, and some of which are contiguous to both the Lovelock cobalt mine project and the historic nickel mine in Cottonwood Canyon.

“The Lovelock and Treasure Box projects are prime examples of U.S.based battery metal projects that are very prospective and strategically located near a domestic end-user, with a large appetite for the critical materials used in EV and energystorage technology,” Mitchell Smith, the company’s CEO, tells The Northern Miner.

“We see growth in demand for cobalt — especially from the EV sector — and it’s driving companies like us to find secure and ethically sourced supplies for the U.S. domestic market,” Smith continues.

“Having most of the world’s supply coming from the Congo subject to political risk and unregulated supply chains, it’s becoming more and more apparent there need to be alternative supplies for cobalt, and, if we can do this on North American soil, it’s that much better for some of the end-users like Apple or Tesla, who have said they treat cobalt as a conflict mineral, and

BY TRISH SAYWELL tsaywell@northernminer.com

B

attery metals-focused Cobalt 27 Capital (TSXV: KBLT; USOTC: CBLLF) has come a long way since listing on the TSX Venture Exchange in June 2017.

The company has a cobalt stream on Vale’s (NYSE: VALE) world-class Voisey’s Bay nickel-copper-cobalt mine in Labrador beginning in 2021; holds an 8.56% joint-venture interest in the producing Ramu nickel-cobalt mine in Papua New Guinea; owns one of the world’s largest stockpiles of physical cobalt; and manages a portfolio of 11 royalties on mineral properties containing battery metals.

In June, the company’s board agreed to a $501-million takeover offer from Pala Investments, which already owns 19% of the company.

Under the proposed deal, Cobalt 27 shareholders will receive $5.75 per common share — $3.57 in cash, and $2.18 in shares of a newly listed

Frank Basa (left), CEO of Canada Cobalt Works, and Robert Allender Jr., Nevada Sunrise Gold’s designated Qualified Person, at the Lovelock cobalt property in Nevada, where Global Energy Metals can earn up to an 85% stake. GLOBAL ENERGY METALS

they want to have a secure supply of that material.”

Global Energy Metals recently began fieldwork to find high-grade, mineralized zones of cobalt, nickel and copper in historic underground workings at Lovelock, which hasn’t been in production since the 1880s, and has never been drilled.

“There’s a lot of historic work with exceptional grades — 14% cobalt and 12% nickel — but it has really not been touched for 100 years, so for us to be the first people on the ground there is exciting,” Smith

says, noting that the company plans to undertake mapping, trenching, sampling and airborne geophysics to target areas that have strong potential. “Given the high-grade nature of cobalt and nickel that were produced historically, we’re very excited by the opportunity it represents.”

In the meantime, it has signed a strategic technology initiative with Canada Cobalt Works (TSXV: CCW) to test the latter’s proprietary

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2019-07-02 8:09 PM

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JULY 8–21, 2019 / THE NORTHERN MINER

TECHNOLOGY METALS

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A drill site at the Millennium cobalt project in Queensland, Australia. GLOBAL ENERGY METALS

Global Energy Metals expands Nevada footprint GLOBAL ENERGY From 9

Re-2OX process on mineralized material from Lovelock and Treasure Box. The technology has shown high recovery rates for multiple metals and the ability to create a compound suitable for use in battery production, and will be tested on a lab scale.

“The technology ... skips the normal smelting process, which obviously is very costly, and allows recoveries of cobalt, nickel, copper and manganese, and, more importantly, removes the arsenic from the product,” Smith says. “Arsenic is often a penalty metal when it comes to the smelting process, and often can’t be transported into the downstream market.”

Smith notes a bulk sample from Lovelock and Treasure Box was sent a few weeks ago to SGS Lakefield’s lab, where Canada Cobalt Works’ one-step, leach-extraction process will test on crushed material.

“Canada Cobalt Works was able to show they could produce a batterygrade sulphate with the feed that they have from their Castle mine project, and so this will be further validation of that, and it gives us some upside, as well, as it will show we have the ability to produce this end-use product,” Smith says. “The metallurgy is critical in order to make sure it’s a product that can be used by downstream end-users, before we go out and spend a significant amount of capital on exploration.” CCW will supervise the program, protecting its intellectual property, as results flow to Global Energy Metals, and will be paid a $200,000 first-stage Re-2OX fee.

Under the deal, CCW, formerly Castle Silver Resources, will also take an equity position in Global Energy Metals, subscribing for 2 million units at 7.5¢ per unit for total proceeds of $150,000. Each unit will consist of one share and one transferable share-purchase warrant, entitling the holder to acquire a share at an exercise price of 10¢ per share for 36 months from the closing date.

Outside the U.S., Global Energy Metals is in the final stages of acquir-

1-16_JULY8_Main .indd 10

ing the Millennium cobalt project in Queensland, Australia, as well as the nearby Mt. Dorothy and Cobalt Ridge projects from Hammer Metals.

The three projects are collectively called the Mt. Isa project, which Smith describes as “one of the largest and most exciting exploration cobalt packages in Australia.”

Millennium is a multi-zone, nearsurface, cobalt-copper sulphide system with two zones (Millennium South and North) that are open at depth and along strike to the north.

Millennium covers a sulphide-rich, mineralized zone containing cobalt, copper and gold.

Last year the company announced a series of long and wide intercepts

of high-grade cobalt from first-phase assays at Millennium. The 10-hole, 1,141-metre drill campaign was designed to test the up-dip continuity at the Millennium North zone and confirm historic estimates of cobalt mineralization reported by Hammer Metals in 2016.

Drill hole 10 returned 41 metres grading 0.18% cobalt, 0.22% copper, 0.11 gram gold per tonne and 0.34 gram silver per tonne for 0.20% cobalt-equivalent, starting from 14 metres’ depth, including a 1-metre intercept grading 1.85% cobalt, 0.19% copper, 0.42 gram gold per tonne and 0.70 gram silver for a 1.89% cobalt-equivalent grade.

Hammer Metals completed a Joint Ore Reserves Committee-compliant

An adit at the past-producing Lovelock cobalt project in Nevada. GLOBAL ENERGY METALS

resource of 3.1 million inferred tonnes grading 0.14% cobalt, 0.34% copper and 0.12 gram gold.

“There is a very strong opportunity to increase the resource,” Smith says, noting that after acquiring 100% of the project, the next step is an exploration program, and to update the resource to National Instrument 43-101-compliant standards.

Millennium, if put into production, would be an open-pit operation.

“The resource is relatively shallow, it’s within 200 metres of surface — the deepest we’ve drilled is a couple hundred metres — and it’s open at depth and along strike, and we think there’s excellent potential to extend the known mineralized structure to

the north and east,” he says.

Mt. Dorothy, 20 km from Millennium, and Cobalt Ridge, 40 km from Millennium, are early-stage projects.

“There was some historic drilling done at Mt. Dorothy that resulted in elevated copper and cobalt results of 0.14% cobalt and 0.34% copper, and that’s what attracted us, and we believe they are part of the same trend as Millennium,” Smith says.

“It’s a decent grade for cobalt.”

Highlights from exploration drilling at Mt. Dorothy returned 7 metres grading 0.14% cobalt and 2.55% copper, and rock-chip sampling at Cobalt Ridge delivered 0.31% cobalt, 3.63% copper and 1.25 grams gold.

The company is funded but will have to raise money for development of the Millennium project, likely before year-end.

“Millennium was first discovered as a copper project, and there has been significant work done historically, but like many projects, it was never explored for cobalt,” Smith says. “We did some extensive work on it last year and came back with results that exceeded our expectations in terms of grade and potential to increase the resource size, and step out from what we call the known zones ... we also did some metallurgical work, and recoveries were 95% for both copper and cobalt.”

In addition to its projects in Australia, the company owns the Werner Lake cobalt project near Kenora, Ontario. Werner is a legacy asset that the company used as its qualifying transaction on the TSX Venture Exchange, and is under option to Marquis Resources. The project contains a historic mine that last operated in the 1940s. It has an indicated resource of 57,900 tonnes grading 0.51% cobalt and 0.25% copper for 653,000 contained lb. cobalt, and an inferred resource of 6,300 tonnes grading 0.48% cobalt and 0.14% copper, for 67,000 contained lb. cobalt.

At press time, Global Metals traded at 7¢ per share in a 52-week range of 4¢ to 13¢. The company has 77 million shares outstanding for a $5-million market capitalization. TNM

2019-07-02 8:09 PM

TECHNOLOGY METALS

GLOBAL MINING NEWS

THE NORTHERN MINER / JULY 8–21, 2019

11

DEVELOPMENT SNAPSHOT

Eight juniors looking to supply the electric vehicle revolution While the prices for key battery minerals such as lithium, cobalt, nickel, rare earth elements, graphite and copper have so far been subdued in 2019, the general excitement about the future wide adoption of electric vehicles continues to fuel activity amongst Canada’s battery mineral juniors. Here is a look at eight such companies.

average grade of 790 milligrams per litre (mg/L) lithium, with a cutoff at 800 mg/L lithium out of a measured and indicated resource of 4 million tonnes, with a cutoff at 400 mg/L lithium.

The study also provided a “mine plan strategy” that would focus on extracting the high-grade lithium brine first.

AVALON ADVANCED MATERIALS

The reserve estimate has a highgrade core of 368,000 tonnes of lithium carbonate for the first 10 years, with an average grade of above 1,000 mg/L lithium.

Don Bubar-led, Toronto-based Avalon Rare Metals (TSX: AVL; US-OTC: AVLNF) is simultaneously developing its Separation Rapids hard-rock lithium deposit, 70 km north of Kenora in northwestern Ontario, and its Nechalacho rare earth elements project near Great Slave Lake in the Northwest Territories.

The resource at Separation Rapids as of May 2018 stands at 8.4 million measured and indicated tonnes grading 1.41% Li2O, with another 1.8 million tonnes at 1.35% Li2O in the inferred category.

Avalon plans to extract up to a 5,000-tonne bulk sample in mid-2019 for trial processing to recover larger quantities of the petalite product for customer evaluation and process flow sheet optimization.

A preliminary economic assessment in August 2018 envisions a plant throughput rate of 475,000 tonnes per year, compared to the 950,000-tonne yearly rate used in a 2016 study. This would result in a 20-year operating life, with annual production of 71,500 tonnes of petalite concentrate; 11,800 tonnes of lepidolite concentrate (both for 18.5 years); and, beginning in year six, 100,000 tonnes of feldspar (through to year 20). The upfront capital expense requirement is $77.7 million, with another $13.7 million planned for a feldspar circuit in years five to six (or once payback of the initial capital is complete).

Average annual revenue is an estimated $90 million versus average annual costs of $60 million, resulting in a pre-tax net present value (NPV), at an 8% discount rate, of $156 million, and a 27.1% pre-tax internal rate of return (IRR). The post-tax NPV is calculated at $102 million and the IRR at 22.7%.

At Nechalacho, in a deal struck in January and confirmed in June 2019, Avalon has attracted private Australian company Cheetah Resources to partner in developing the project’s rare earth resources.

Cheetah will acquire ownership of the near-surface resources in the T-zone and Tardiff zones for a total cash consideration of $5 million, while Avalon will keep ownership of the resources in the Basal zone that was the subject of its 2013 feasibility study. Avalon will continue to manage work programs on the property and keep its 3% net smelter return-type royalty.

Avalon is also eyeing small-scale redevelopment of the past-producing East Kemptville tin-indium mine in Nova Scotia’s Yarmouth County.

CRUZ COBALT Vancouver-based junior Cruz Cobalt (TSXV: CUZ; US-OTC: BKTPF) describes itself as being “focused on acquiring and developing highgrade cobalt projects in politically stable, environmentally responsible and ethical mining jurisdictions,

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Neo Lithium says this high-grade core “is critical, given it enables the company to build less ponds at the beginning of the project, therefore lowering initial capital expenditures, while achieving the target production of 20,000 tonnes of lithium carbonate, as stated in the prefeasibility study.”

Avalon Rare Metals’ Separation Rapids hard-rock lithium deposit, 70 km north of Kenora, Ontario. AVALON RARE METALS essential for the rapidly growing rechargeable battery and renewable energy sectors.”

Cruz’s Ontario cobalt prospects — Coleman, Johnson, Hector, Bucke and Lorraine — are all located near the town of Cobalt, making the firm one of the largest landholders in this re-emerging cobalt district.

The company’s B.C. prospects include the War Eagle and Purcell prospects, while its U.S. prospects are Chicken Hawk in Montana and Idaho Star in Idaho.

Cruz president and CEO James Nelson has over 12 years of public markets experience focused in finance, investor relations and corporate development in a variety of industries, including energy, mining, oil and gas, and technology, as well as serving as a director and a consultant to several public and private companies.

He has held senior management positions with listed junior companies, including Spearmint Resources (CSE: SPMT) and YDreams Global Interactive Tech (TSXV: YD).

DEFENSE METALS Vancouver-based Defense Metals (TSXV: DEFN; US-OTC: DFMTF) describes itself as being “focused on the acquisition of mineral deposits containing metals and elements commonly used in the electric power market, military, national security and the production of green energy technologies, such as high-strength alloys and rare earth magnets.”

Defense Metals has an option to acquire 100% of the 17.8 sq. km Wicheeda rare earth elements (REE) project located 80 km northwest of Prince George in central British Columbia.

It also owns a 100% interest in prospective uranium claims in the northeast section of Saskatchewan’s prolific Athabasca basin. The Geiger project consists of two claims — Geiger North and Geiger South —totalling 12.3 sq. km, and is next to the Wollaston-Mudjatik transition zone, described as a “major crustal suture related to most of the major uranium deposits in the eastern Athabasca basin.”

In June, Defense Metals reported that had received successful metallurgical test results for

Wicheeda from consulting firm SGS Canada. The junior says results from the first 21 of 25 batch flotation tests completed to date during 2019 showed progressive improvement from early- to late-stage testing, culminating in test F21 that achieved: 80% recovery of cerium, lanthanum, and neodymium oxides (Ce2O3+La2O3+Nd2O3), 44% rare earth oxide (REO) concentrate grade, and 9.5 times upgrading ratio from head.

MGX says its “award-winning lithium brine extraction technology recovers previously unattainable lithium in produced water from hydraulic fracturing, conventional oil and oil sands (bitumen) production, geothermal brine, and other lithium-rich wastewaters,” and notes that the technology was recognized with a “Base & Specialty Metals Industry Leadership Award” at the 2018 Platts Global Metals Awards.

FRONTIER LITHIUM

Led by chairman Marc Bruner and president and CEO Jared Lazerson, MGX has an intriguing suite of assets that include lithium properties in Alberta and Utah, as well as silicon and magnesium properties in the Rockies of British Columbia.

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

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

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

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

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

MGX operates a 1,000-litre-per-day petrolithium extraction and watertreatment system with partner PurLucid Treatment Solutions, with the system used for large-scale testing of bulk-water samples from MGX’s petrolithium projects, including Sturgeon Lake, Alta., and Paradox basin, Utah, as well as customers and partners before deployment of commercial systems.

MGX also says it is “building North America’s next magnesium oxide mine” in the Driftwood Creek mining district, 164 km north of Cranbrook, B.C., where it is carrying out a preliminary economic assessment of an 8-million-tonne measured and indicated resource grading 43.31% MgO. In June, MGX Minerals spun out of 40% of the common shares of MGX Renewables Inc., with MGX Minerals keeping 18 million shares of MGX Renewables, which will soon list on the Canadian Securities Exchange.

In connection with the spin-out, MGX Minerals took in $2 million in proceeds from a previously completed offering of subscription receipts.

NEO LITHIUM In June, Frontier closed an oversubscribed private placement that raised $2 million.

MGX MINERALS Vancouver-based MGX Minerals (CSE: XMG; US-OTC: MGXMF) describes itself as a “developer of lithium, magnesium and silicon projects using innovative processes to supply the new energy economy.”

Neo Lithium (TSXV: NLC; USOTC: NTTHF) is active in South America’s Lithium Triangle at its Tres Quebradas (3Q) lithium brine project, which covers 350 sq. km in Argentina’s Catamarca province.

In May, Neo Lithium filed a reserve estimation within a prefeasibility study that defined proven and probable reserves of 1.29 million tonnes lithium carbonate, with an

The junior notes that this highgrade core was only drilled to 100 metres’ depth in the previous drilling campaigns used to estimate the resource and reserve, and that the objective of the 2019 drilling season was to extend at depth the high-grade zone in the northern part of the 3Q project.

Neo Lithium also notes it has received geochemical results from 10 samples of the last hole of the season, 1-R-25, that yielded an average over 178 metres (from 87 metres) of 1,117 mg/L lithium.

The hole is located on the eastern border of the 3Q lake, an area where the reserve estimation assumed brine to be present to only 10 metres depth, however the hole found brine all the way from surface to 265 metres’ depth.

It describes the rocks found in the hole as porous halite, sands, silt, clays and gravels from the surface to the bottom of the hole, and notes that drilling stopped at 280 metres’ depth due to technical difficulties.

“We were able to validate this season that our high-grade resource and reserve statement have significant potential to increase,” said Neo Lithium president and CEO Waldo Perez. “The 3Q Project is today the highest-grade project in Argentina, and will continue to grow, as drilling demonstrates the importance of the northern highgrade zone.”

NOUVEAU MONDE GRAPHITE Montreal-based Nouveau Monde Graphite (TSXV: NOU; US-OTC: NMGRF) is developing the Matawinie high-purity, flake graphite deposit located 150 km north of Montreal, Que., which Nouveau Monde describes as the “only major North American graphite discovery since 2001.”

Nouveau Monde says its goal is to “become a major low-cost producer of anode material for lithium-ion batteries and other value-added graphite products with the industry’s lowest environmental footprint, driving sustainable development in the UpperMatawinie region.”

Matawinie, Nouveau Monde says, provides high-purity graphite and large-flake distribution, plus a location that translates to

See SNAPSHOT / 12

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Innovation is needed in processing of battery raw materials COMMENTARY

BY DAVID ANONYCHUK, JANE SPOONER AND REINER HAUS Special to The Northern Miner

W

ith the increasing adoption of electric vehicles (EVs) and energy storage technologies, there is little doubt demand will grow for battery raw materials that must be sourced from the mining industry.

We expect automotive companies and battery manufacturers to invest US$300 billion in the sector in the next 10 years, and they will require new battery mineral deposits to be developed.

However, given the current climate of underinvestment in the mining sector, will future supply be able to meet these projections of rapidly increasing demand? The answer is not clear.

Over the next 10 years, we expect demand related to battery raw materials to increase four times for lithium, five times for cobalt, and up to seven times for graphite.

Beyond that, vanadium will be required in increasing volumes for use in stationary batteries for energy storage in renewable energy installations, while rare earths already have a place in high-performance magnets widely used in electric motors and wind turbines.

Against this background of anticipated growth in demand, technology is continuously improving in the battery sector, as manufacturers lower costs and improve performance in an effort to encourage higher adoption rates.

For example, EV battery manufacturers face pressure to increase energy density, decrease recharging time, reduce weight, and improve cold weather performance and safety.

Battery raw materials currently make up half the cost of battery cell manufacturing costs.

To realize these performance enhancements, manufacturers are demanding increased quality of raw materials. To be competitive on the cost curve, suppliers of lithium, cobalt and graphite feedstock will be pushed to achieve higher processing efficiencies.

Processing innovation There will be pressure on the supply of specialty raw materials, and new deposit types are already being assessed for economic viability.

| EV battery makers under pressure to lower costs

OVER THE NEXT 10 YEARS, WE EXPECT DEMAND RELATED TO BATTERY RAW MATERIALS TO INCREASE FOUR TIMES FOR LITHIUM, FIVE TIMES FOR COBALT, AND UP TO SEVEN TIMES FOR GRAPHITE. Innovation in mineral extraction and process development is needed to meet the challenges posed by enduse markets — especially in green technology, renewable energy and battery applications.

Already, physical and chemical specifications on mineral products and processed materials are only getting more stringent. Many products must reach 99.99% purity (“four nines”), but even more pronounced are the impurities themselves, at the parts per million level, as they risk affecting the performance of the final product.

Processing innovations in the lithium sector are focused on hard rock minerals, such as spodumene, petalite, lepidolite and mica, and on lithium-bearing clays, to produce lithium carbonate and lithium hydroxide for batteries.

Physical beneficiation results in a mineral concentrate that is processed by calcination and acid leaching.

Spodumene remains in focus, since the lithium content is higher than for other sources. But other minerals could offer advantages.

For example, lithium-bearing clays are relatively soft and easy to mine, and may be processed acidfree. In contrast, various hydrometallurgical processing routes are under development for spodumene and petalite offering the advantage to produce lithium hydroxide directly, without going through the carbonate stage.

This lowers energy and reagent consumption, and achieve higher purity and improved cost competitiveness against lithium brine sources.

Cobalt is generally produced as a by-product of copper and nickel, and is driven by the economics of those industries.

Spheroidized graphite flakes, or “potatoes,” at 20-micron diameter, under scanning electron microscope. M.PLAN INTERNATIONAL

To meet the projected needs of the battery sector, cobalt is not expected to be sourced from by-product production alone. New production from primary cobalt projects will be needed to fill the supply gap.

There are also inherent risks in the dependency on the major producer of by-product cobalt, the Democratic Republic of the Congo, and on cobalt-processing facilities that are Chinese-controlled.

Existing producers of cobalt are boosting production of cobalt chemicals for battery applications, particularly in the form of cobalt sulphate.

As potential new entrants to the market, primary cobalt developers look at projects where cobalt is recovered from more complex mineralization, but they can take advantage of innovative process flow sheets to directly produce batterygrade cobalt sulphate.

Similar to lithium minerals, natural graphite is beneficiated by comminution, careful liberation and multiple flotation stages to recover a high-grade (+98.5%) concentrate, but must be further processed so that material is suitable for batteries.

A spheroidization process is used whereby graphite flakes are folded and wrapped into a sphere known as a “potato.” Spheroidization preserves the original flaky structure — i.e., the flake size and aspect ratio — which allows rapid passage of lithium ions, while the potato shape allows the graphite to be packed most efficiently into the battery anode.

Innovation is applied to the spheroidization process to improve the typical yield rates from 30–40% to 60% or more, which improves economics by lowering the amount of less valuable fines.

Final impurities in the battery grade graphite must be less than 0.05%, or 500 parts per million.

Innovative methods look to achieve this purity by methods free of hydrof luoric acid, such as thermal technologies, or the introduction of less harmful reagents for treatment.

Vanadium There are relatively few sources of primary vanadium, and the steel industry accounts for nearly 90% of total demand, with chemical catalysts accounting for almost all of the balance.

Vanadium redox batteries for grid energy storage are finding a wider range of applications, but there are concerns over the availability of supply, despite the fact that vanadium is more abundant in nature than lithium.

Changes in China’s high-strength rebar standard to support prior modifications in building codes include high-vanadium-content concrete rebar, which has prompted additional assessment of alternative vanadium sources.

A potential source includes waste steel-making slags, which can be reprocessed to recover a suite of products, including ferrovanadium, high-purity steel and clean slag. An

innovative approach to processing vanadium-bearing waste slags involves combining pyrometallurgical and hydrometallurgical steps, and, particularly, the use of hightemperature roasting of the slag.

The economies of scale needed to be achieved for the electrification of the automotive industry must also be matched by raw material producers, even as the environmental impact of mining operations and mineral extraction plants are kept to a minimum.

Anticipated increases in demand — with limited supply sources — will drive the mining industry to primary sources, often with increasingly complex mineralogy.

Innovation drives end-use markets, and, in turn, this results in innovative flow sheets and adoption of new process technologies.

— David Anonychuk is managing director of M.Plan International, while Jane Spooner and Reiner Haus are both co-chairs of M.Plan.

M.Plan was founded in 2015 as a joint venture between Dorfner ANZAPLAN of Hirschau, Germany, and Micon International of Toronto to provide integrated services to the specialty minerals and metals sector.

Due diligence reviews, preliminary economic assessments, pre-feasibility and feasibility studies are generated to meet the requirements of international securities regulations, such as National Instrument 43-101, and JORC. For more information, visit www.mplaninternational.com.

DEVELOPMENT SNAPSHOT SNAPSHOT From 11 “strong economics, due to local infrastructure and proximity to customers.”

With the nearby Lac des Îles graphite mine operated by Imerys nearing depletion in 2020, there may be opportunities for Matawinie to step into any supply gap.

Meanwhile, Nouveau Monde is designing a mine at Matawinie that could produce 50,000 tonnes per year of graphite.

According to a March 2017 estimate, Matawinie’s in-pit West Zone contains 32.9 million indicated tonnes grading 4.5% graphite,

1-16_JULY8_Main .indd 12

while the South Zone contains 26.3 million indicated tonnes grading 3.73% graphite, plus 19.2 million inferred tonnes of 3.67% graphite.

In recent months, Nouveau Monde has raised $22 million, including $10 million from key shareholder Pallinghurst Graphite Ltd., which gives it secure funding to proceed with construction of a “value-added product demonstration plant” at Matawinie.

In May, Nouveau Monde boosted its management team and board of directors with the following appointments: geological engineer Martine Paradis as vicepresident and chief engineer for infrastructure and environment; mining engineer Alain Dorval

as vice-president and chief engineer for metallurgy and process; co-managing partner of the Pallinghurst Group Arne H. Frandsen as a director; and Christopher Shepherd as a director.

POWER ORE Toronto-based Power Ore (TSXV: PORE) was spun out in 2018 as an energy metals junior by Stephen Stewart’s Orefinders Resources, and in a transformative move in December 2018, agreed to buy a full interest in the Opemiska copper mine complex from privately held Explorateurs-Innovateurs de Québec.

Power Ore describes the Opemiska

copper mine complex as consisting of two past-producing underground mines in Springer and Perry, and near the town of Chapais, Quebec. Falconbridge operated the Opemiska copper mine complex from 1953 to 1991, when it produced a total of 23 million tonnes at 2.4% copper and 0.3 gram gold per tonne.

Since then, Power Ore has pored over data and started drilling at the project, which the junior thinks can be fast-tracked, given its jurisdiction, infrastructure, location and a host of other advantages — possibly as a lower-grade mine, in contrast to its past as a high-grade underground mine.

Stephen Stewart, as Power Ore’s

CEO, said in a recent drill results release that “we continue to receive promising results, with this second batch showing widely mineralized copper zones near surface. Mineralization in holes 4 and 6 are once again high-grade near-surface holes that clearly shows the open-pit potential at Opemiska. Hole 7 is encouraging, as this is an exceptionally wide mineralized zone spanning 130 metres of 0.3% copper, and shows the potential remaining in the crown pillar at Vein No. 3.

Most importantly is that we are seeing mineralization very close to the surface, which continues to be in line with our objective of reinterpreting the Opemiska Copper Complex as an open pit mine.” TNM

2019-07-02 8:09 PM

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First Cobalt’s cobalt refinery in northern Ontario. FIRST COBALT

Glencore to support First Cobalt’s refinery in Ontario COBALT

| Commodities giant looks to restart, feed junior’s mill

BY TRISH SAYWELL

F

taywell@northernminer.com

irst Cobalt (TSXV: FCC; USOTC: FTSSF) has taken a major step towards becoming the only producer of refined cobalt in North America.

The company, which plans to restart its hydrometallurgical cobalt refinery near Cobalt, Ont., has signed an agreement with Glencore (LON: GLEN) that will see the metals giant supply the junior’s refinery with cobalt feedstock.

Under a memorandum of understanding, Glencore will also provide a loan to cover the estimated cost of re-commissioning the refinery, and collaborate on its final flowsheet design.

“There are so few refinery options outside of China that all roads pretty much lead there, so it puts us in a unique situation, where it allows us to provide cobalt to North America, where we don’t have any,” says Trent Mell, First Cobalt’s president and CEO. The arrangement appeals to Glencore because it sells its cobalt hydroxide material to China and doesn’t get the final product back, Mell says, adding that the two companies are also working on an offtake agreement.

A second attribute that makes the deal attractive to Glencore, Mell says, is that having a refinery in North America allows it access to U.S.-based battery and carmakers. First Cobalt’s refinery is 600 km from Canada’s border with the United States.

“The objective is to get ourselves to a battery-grade product — cobalt sulphate — and right now, U.S.-based battery makers and automobile manufacturers need to bring it all in from elsewhere, so the idea of being the sole provider of cobalt sulphate on the North American continent puts us and Glencore into a unique situation, where we can develop the electric vehicle market,” he says.

The refinery could operate in as little as 18 to 24 months, and

1-16_JULY8_Main .indd 13

Cobalt samples at First Cobalt’s refinery. FIRST COBALT

discussions are underway with provincial government officials to find opportunities to streamline and accelerate the permit-amendment process. First Cobalt only needs a permit to take water, and it should take between three and six months to get it, Mell says.

“That’s the beauty of a brownfield site, and all the work we’re doing is within the four walls of the building. There are no earthworks, no tailings ... we’re replacing leach tanks and motors and instruments, not pouring concrete and building roads.”

In April, testing third-party cobalt hydroxide confirmed that the processes at First Cobalt’s refinery can produce a high-purity, batterygrade cobalt sulphate.

The positive test results at SGS’s lab in Lakefield replicated the refinery’s circuits and flow sheet, and the product — refined in a single batch

— assayed 20.8% cobalt, surpassing the reference grade for sulphate pricing, and paving the way for the company to bring the refinery out of care and maintenance.

The results were followed in May by a scoping study completed by Ausenco Engineering Canada, which envisions annual production at the refinery will reach over 5,000 tonnes per year of cobalt — more than twice the previous estimate — and that the elimination of its autoclave circuit would keep costs down.

The study concludes that doubling production to 5,000 tonnes would only increase the initial capital investment by US$7.5 million — bringing the total capex to US$37.5 million.

Previous studies assume that the refinery would treat lower-grade, arsenic-rich concentrate material, but Ausenco’s de-bottlenecking

study examined the refinery’s production capacity and associated constraints, assuming that cobalt hydroxide would be the main source of feed material for producing cobalt sulphate.

Mell notes that the refinery’s ability to produce 5,000 tonnes a year would be an important contribution to the global supply chain, given that the cobalt market totalled 130,000 tonnes in 2018.

The facility, he adds, “is in excellent condition, with permits in place, good community support and a short timeline to potential production.

“We have permits and flow sheets in place that might allow us to have a real quick restart as early as next year, so we’re thinking maybe we should get it started as quickly as we can, start processing material and then do a feasibility study on a larger operation,” he says.

The facility was commissioned in 1996, and has a nominal throughput of 12 to 24 tonnes per day.

“The discussion now is, can we restart it in the first half of 2020 at 12 tonnes, and then go to 55 tonnes within 18 months?” he says, adding that Glencore would be interested in seeing the refinery restart at 12 tonnes, because when one is producing cobalt sulphate for battery makers and carmakers, each buyer has slightly different specifications.

“Going out sooner with a lower throughput allows us to get comfortable with our flow sheet, and comfortable with product specification ... we’re targeting clients, as opposed to a homogeneous copper cathode that you can just sell to the LME.” First Cobalt has already signed four non-disclosure agreements with carmakers in North America and Germany, Mell confirms.

The mining executive also notes that having cobalt sulphate produced in Canada “plays in well” with the trade war between the U.S. and China.

“U.S. government officials we’ve talked to love this idea of refined cobalt in Canada, and love the idea of diverting it from China and bringing it to Canada, so there is this strategic metal component we can address from North America,” Mell says.

China controls the refined cobalt market, with a 60% market share, and within a subset of that, has an 80% market share in the cobalt sulphate market, which is used to make lithium-ion batteries.

When First Cobalt started looking for feed for the refinery restart a year ago, it began assessing everything from historic waste dumps and remnant material from silver and cobalt production in Ontario’s cobalt camp to spent batteries, recycling finished goods, consumer electronics and catalysts from plants.

But it wasn’t enough material to get comfortable with a multiSee COBALT / 14

2019-07-02 8:09 PM

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TECHNOLOGY METALS

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The Basamuk processing plant, which is part of the Ramu nickel-cobalt mine in Papua New Guinea. HIGHLANDS PACIFIC

Pala Investments offers $501M for Cobalt 27 COBALT 27 From 9

company that will be called “Nickel 28 Capital.”

The offer represents a 66% premium to Cobalt 27’s closing share price on June 17 of $3.47, and a 46% premium to its 20-day, volumeweighted average trading price of $3.95.

The new entity would be funded with US$5 million in cash a nd hold Coba lt 27’s interest in the Ramu mine, its royalty por t fol io on f ut u re projec ts, and its equity position in Giga

“WE SEE THIS PROPOSAL AS A PROBABLE EXIT FOR SHAREHOLDERS, AND LIKELY TO GAIN TWO-THIRDS SHAREHOLDER APPROVAL.” COLIN HEALY ANALYST, HAYWOOD SECURITIES

Metals (TSXV: GIGA; US-OTC: HNCKF).

But what won’t be transferred to Nickel 28 are two of Cobalt 27’s most valuable assets — its physical inventory of cobalt, and its stream

on Voisey’s Bay, both of which Pala will keep.

“Pala will be acquiring the physical cobalt inventory and stream on Voisey’s Bay at a significant discount to carrying value, leav-

ing the Ramu royalty as the main asset in the newco,” Colin Healey, of Haywood Securities, says in a research note.

“Pala’s offer is opportunistic, acquiring the Voisey’s Bay stream at a 27% discount to the current carrying value,” which was US$253 million in first-quarter 2019, if physical cobalt inventory and netdebt are taken at spot and face value, Healey says. “Given the weakness and bearish trend in KBLT shares over the past year, we see this proposal as a probable exit for shareholders, and likely to gain

two-thirds shareholder approval.”

Shareholders will vote on the transaction at a meeting in August.

Nickel 28 would have no corporate debt and be run by Cobalt 27’s executive team. Pala would own a 4.9% stake in the company.

If a superior offer emerges for Cobalt 27, Pala has five business days to match it.

Pala’s managing partner, Stephen Gill, was travelling and unavailable for an interview, and Cobalt 27’s chairman and CEO, Anthony Milewski, would not comment. TNM

Glencore to support First Cobalt’s refinery in Ontario GLENCORE From 13

million-dollar investment to put the refinery back into production, Mell says. After the pullback in the cobalt price last year, however, the company realized that there was an abundance of cobalt hydroxide material left in the market in the Democratic Republic of the Congo (DRC).

“We said that’s obviously the feedstock we need to focus on, and it’s a heck of a lot easier to process the hydroxide than processing arsenic with concentrate,” he says. “It’s also much higher grade.

Instead of taking something that is 6% to 10% cobalt, you’re taking something that is closer to 30% cobalt, so you’re putting more units through the refinery. The second thing we realized is the ease with which we can convert it. We can take the autoclave out,

1-16_JULY8_Main .indd 14

and bypass that, and do general atmosphere leaching, and that lowers the capex and increases the throughput, and yields a higherquality product.”

The feedstock will come from Glencore’s copper operations in the DRC. Mell notes that getting the cobalt hydroxide feedstock from Glencore means the product will be ethically sourced, and that there is no concern that it will be tainted by child labour — endemic in the troubled African nation — or fuel rebel fighters in the country’s northeast.

“When you’re dealing with one of the largest metal producers in the world, there should be little doubt that it is coming from an ethical operation,” he says. “You walk into any Glencore operation in the DRC, and it’s no different than their operation in Sudbury.”

“WHEN YOU’RE DEALING WITH ONE OF THE LARGEST METAL PRODUCERS IN THE WORLD, THERE SHOULD BE LITTLE DOUBT THAT IT IS COMING FROM AN ETHICAL OPERATION.” TRENT MELL PRESIDENT AND CEO, FIRST COBALT

First Cobalt’s shares have traded in a 52-week range of 14¢ to 50¢ per share, and at press time traded at 16¢ apiece. The company has a $58-million market capitalization. TNM

Drill core from First Cobalt’s operations in Ontario. FIRST COBALT

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Gold industry needs to ‘get back to basics,’ Iamgold’s Letwin argues COMMENTARY

| CEO says gold miners must listen to market, seek ‘forgiveness’ “WE NEED TO LISTEN TO OUR CUSTOMERS AND WHAT THEY’RE SAYING. AND OUR CUSTOMERS RIGHT NOW ARE THE MARKETS.”

BY JOHN CUMMING jcumming@northernminer.com

A

t The Northern Miner’s Canadian Mining Symposium, held at Canada House in London, U.K., Iamgold (TSX: IMG; NYSE: IAG) president and CEO Steve Letwin spoke on gold. Below is the full, edited transcript of the session, held on May 22, 2019.

It’s a pleasure to be here, and I’m quite excited to see Canada House. I am quite impressed — compliments to our country.

Now this is a picture of the road that we’re building in Suriname.

It’s a road that extends from our Rosebel gold mine and mill to our large gold deposit at Saramacca that we announced about two years ago.

We have 1.5 million oz. gold, with an average grade of 2.2 grams gold per tonne.

We’ll be reaching the concession, and by the fourth quarter we’ll produce gold from Saramacca, moving the ore 23 km into the mill. This will change our Rosebel operation dramatically.

I was there [in mid-May] and spent the week on-site. It’s really a great discovery for the company, and I give my accolades to our people at Rosebel, and the exploration team at Iamgold.

Now, we had a panel discussion this morning (with Yamana Gold [TSX: YRI; NYSE: AUY] executive chairman Peter Marrone), and I might have a little different view than my colleague, in that I really do think we need to listen to our customers, and what they’re saying.

And our customers right now are the markets.

I don’t think there is a good understanding that we as miners have of the markets. We seem perplexed.

We seem to be struggling with why we’re undervalued.

This hasn’t just been going on for a year. This has been going on now for eight years. It’s not like it’s a recent phenomenon.

We need to deal with reality. We need the markets in order to replace our reserves. We need to raise money, and this year has been the worst year in over a decade, in terms of our ability to raise equity.

And the markets need us, because eventually, we do need the markets to understand that the markets will make money off the fact that our reserves have depleted.

We need to replace our reserves, and we do need to get our product to market.

I talked this morning about our relative size as an industry. Fortunately or not, we are a rounding error in the market. Microsoft, almost a trillion dollars alone, and the top-10 gold miners, 121 billion.

In fact, Newmont Goldcorp, which is the largest gold company in the world, is ranked 653rd in the world, and about 300, in terms of North America. It gives you some perspective on where we sit, and maybe the idea of the potential of where we can go.

But the money has not been coming into our sector.

Let’s go back to the idea of why that is, and what we need to do.

We need to look at the self-funding model. We need to look at generating enough free cash flow to cover our capital, to cover our expenses in this interim time frame, because we aren’t going to get it from the markets.

Free cash flow is the theme of the day. It’s something that we need to

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STEVE LETWIN PRESIDENT AND CEO, IAMGOLD

Steve Letwin, president and CEO of Iamgold, speaking at the Canadian Mining Symposium in London, U.K., in May 2019. PHOTO BY MARTINA LANG FOR THE NORTHERN MINER.

focus on. It makes it very challenging for juniors.

Juniors have been the source of reserves for many mid-tiers and majors over the years, and it makes it very tough for them to go out and raise money — even flow-through funds today are challenging — and create reserves that many of the midtiers and majors have been able to acquire over time, and juniors have benefitted over time.

But I think you would agree that with almost 300 junior mining companies in Canada today, and 17 mid-tier companies in a shrinking pool of capital, this becomes quite challenging.

People right now — our customers, our market, if you will — want minimal debt, lots of free cash flow, dividends, high internal rate of returns and fast paybacks. In other words, they want everything.

They really aren’t interested in companies that are going ask for money, aren’t creating free cash f low, and are borrowing money.

Whether we like it or not.

And we’ve got John Reed here from the World Gold Council, who I have the deepest respect for. This man is outstanding, and a great addition to the World Gold Council.

I really enjoy him. He can give you a good perspective on where gold is going.

But right now, gold has been sitting at an average of US$1,250 for the last seven years, and so we have a bit of fatigue.

Investors want this low-capitalintensive, cash-producing asset — in effect, they are saying, “just keep producing cash, pay me a dividend, please, and don’t ask me for any money.”

That’s why it drives you to projects that make sense.

We have had a bad run. We’ve had marginal projects. We’ve destroyed capital. Of the trillion dollars we’ve raised, we’ve actually written off almost 30% of it in the last 10 years. And if you’re an investor, that would have put a trillion dollars in the S&P, that would be worth 2.77 trillion dollars today.

Where would you put your money, based on that performance? You wouldn’t put it in the gold equities.

We do need to change. To stand up here and say that we’ve been doing it right would be disingenuous.

And Iamgold needs to change.

Iamgold needs to get better. Iamgold needs to deliver better returns.

If we don’t, we will continue not being able to raise money. And for Iamgold, we have what I believe is this fantastic project in northern Ontario called Côté, with 13 million oz. gold, 6 km off the highway, low

grade, bulk tonnage.

We didn’t even announce it. We inferred that we were going to potentially go ahead with it, and we got slaughtered in the marketplace.

Our shareholders said: “You are not building that mine.” Simple.

And guess what? We’re not building that mine. And when we said we weren’t, the stock went back up again.

You do have to listen to your customers, and you do have to listen to the market. And it makes a difference.

And if you don’t, they will kill you, and you will not be around.

They really don’t easily forgive.

This is something that we need to do in the gold space. We need to get better. We need to get better organized. We are, in many respects, asking for forgiveness: “Please come back and invest in our industry.”

We need to get back to basics.

Mining properly, mining high rateof-return projects, creating free cash flow, and then maybe, maybe we can build again.

Because we have to get back to basics and demonstrate that we can do it: crawl, walk — and then you can run.

This just gives you some perspective. I’m a mathematician by training. I spent a lot of time in oil and gas. I’m a commercial guy. I’m not a geologist or engineer, but I believe a reasonable, commercial person.

But since 2004, gold has actually done well, if you bought gold. The S&P has done even better. Look at what the GDX has done. Should this be a surprise to us that we’re struggling with raising money? It shouldn’t be. Look at what’s happening: 2016 and 2017 were great years. In 2016, Iamgold was the number-one performer on the TSX, and in 2017, number three.

I was CEO of the year, which now I see as a curse. Whenever you get voted that, don’t accept the award.

The next year, you’re the worst performer. Not quite. It was third, but now this year, it’s not good.

But look at what has happened, and this includes both common and flow-through shares. My good friend here from Pear Tree — unbelievable people, in terms of raising flow-through funds — have done a great job for us. They will tell you that things have gotten tougher. And you can see that 2019 isn’t looking really good for any of us.

The other thing that’s changing is that we’re seeing a lot more passive investors, versus active investors. Passive investors and capital-intensive businesses do not go well together.

Do you know what a passive investor is? They’re driven by quantitative

measurements. Algorithmic fund traders — they really don’t care about you. They care about what they can do during the day on a high-frequency trade.

So, 35% of Iamgold stock is held by passive fund indexes. When they wake up in the morning, they’re either going to go long or short on us every day.

Something like Côté doesn’t make any sense to them.

And so, during this time, shortterm returns and cash flow become even more relevant.

We’ve also become much more risk-averse, geographically. When I started in the business, West Africa was loved, in 2010, 2011. We have mines in West Africa.

This gives you some idea of where the mines have been built lately. Look at Australia, look at Canada, look at the U.S., look at West Africa — a lot more sensitivity to geography, which also impacts where capital is going.

Mark Bristow and John Thornton did a great deal merging Randgold and Barrick.

My colleague may have had a different view in terms of the necessity for consolidation. I’m not going to disagree with him in terms of saying bigger isn’t necessarily better. I don’t necessarily think bigger has to be better, either.

But there are too many of us in a shrinking capital pool. It happened in the oil and gas business.

This deal between Randgold and Barrick was good for the industry, and it needs to be repeated.

Now that it has happened at the major level, I strongly believe it needs to happen at the mid-tier level. There are too many mid-tier gold companies in a shrinking capital market.

There needs to be more consolidation, and the market is telling us that.

They applauded both of those deals.

So that will come, and you do hear the rumors about us.

I’ll tell you why you hear the rumors. You hear the rumors because we have added more reserves in the last three years than any other mid-tier company. We’ve gone from under 7 million oz. to almost 20 million oz. proven reserves.

We have become an attractive target for companies that want to replace reserves at a very low rate, and good value. It’s math. And it is time for consolidation.

So, yes, we are a target. Mathematically, we have to be a target.

If the U.S. dollar weakens, the gold story becomes more positive. If the U.S. dollar continues to be strong, we will continue in a range-bound trading area, which will force more consolidation.

I’m not being negative about gold.

I’ve been in it nine years, and I love it. I’m the largest independent shareholder of Iamgold. Nobody can tell me I don’t believe in my company. Nobody can tell me I don’t believe in gold.

But you have to deal with facts ... we simply are seeing more near-term

exploration, and more gold being produced worldwide — 109 million ounces. When I started, we were at 87 million a year. So, there’s a lot of gold being produced.

Yes, we hope demand will improve, but that demand will be tied to this U.S. dollar.

We are seeing optimism. Russia and China are trying to get off the U.S. dollar, because the U.S. is using their dollar as a weapon.

Trump is doing everything he can for America.

Do you think China and Russia like the U.S. dollar? I would use the word hate. Anything they can do to get off the U.S. dollar, they’re doing, and you’re seeing it happen.

So, yes, there is optimism that maybe this U.S. dollar starts to weaken. Hopefully that happens soon.

China’s official reserve is growing significantly. They believe in gold.

But in the gold business, we’re getting enough feedback from the market, from our customers to tell us to get busy living.

We need to get to this self-funded, self-sustaining, safe and profitable model.

That’s what we’re doing at Iamgold. Right now, we are cutting, we’re focusing on free cash flow. We’re focusing on a self-funding model.

We’ve had to let people go. We will continue, unfortunately, to reduce our workforces, where necessary.

We will continue to focus on productivity. We will continue to focus on the allocation of capital where it matters. We have an extremely strong balance sheet — one of the best in the industry.

But if we don’t do that, we will lose that advantage. We have over $1.2 billion in liquidity, but we have to keep that strong. We are one of the leading of the mid-tiers in terms of cash and cash equivalents, and in terms of net cash. This is a strength.

But unless we get to a self-funded model, it won’t remain a strength.

I am committed personally, we are committed as a company to make that happen. I stand in front of you and tell you it’s happening today. It will happen.

Net debt per share, same thing, same metrics. And we have a fantastic pipeline.

So, we come up in rumors all the time. We have a shovel-ready project in Senegal called Boto ... we have a fantastic project at Côté — a 450,000 oz. producer, 25-year mine life, 6 km off a major highway, surrounded by infrastructure. We had a 1.5 million oz. discovery on Saramacca, on a trend line that we believe has 5 million oz. in Suriname. We have a mine at Sadiola, which has 3.5 million oz. proven reserves.

We have a whole list of projects in Quebec: Nelligan, Yorbeau, Monster Lake. All really strong projects.

But the market doesn’t care.

What they care about is free cash flow, free cash flow, free cash flow.

Until they get off that, that’s what we’re going to do. We’re going to give them free cash flow.

When the market does change and we see this pipeline become valuable again, then what Peter Marrone said this morning will happen. Stocks will rise.

And hopefully, we don’t go back to what we did before and destroy a whole bunch of value.

So, we have great positioning, key themes around performance. Let’s get our act together, Iamgold. Let’s show that we can generate free cash flow, returns to the shareholder, and be the differentiator. TNM

2019-07-02 8:09 PM

16

WWW.NORTHERNMINER.COM

JULY 8–21, 2019 / THE NORTHERN MINER

A drill rig at Red Pine Exploration’s Wawa gold project in Ontario. RED PINE EXPLORATION

Looking at drill core at the Wawa gold project in Ontario. RED PINE EXPLORATION

Red Pine builds up Wawa project in Ontario GOLD

| New report contemplates underground mining

BY TRISH SAYWELL

T

Drill core from Red Pine Exploration’s Wawa project. RED PINE EXPLORATION

tsaywell@northernminer.com

he land package containing Red Pine Exploration’s (TSXV: RPX) Wawa gold project in Ontario hosts numerous historic mines that in their he yd ay produc e d more t ha n 120,000 oz. gold.

The largest gold deposit Red Pine has found so far on the property — 2 km southeast of the town of Wawa — is called Surluga, and the company has updated a 2015 resource estimate, and marked an increase in grade, quality and continuity of the gold zones.

The new resource supports a shift from an open-development plan to a high-grade underground model, the company says.

At a 2.7 gram gold per tonne cutoff grade, the new resource stands

RED PINE ESTIMATES THAT THE COMBINED MINTO MINE SOUTH AND SURLUGA DEPOSITS CONTAIN 1.31 MILLION INDICATED TONNES GRADING 5.47 GRAMS GOLD FOR 230,000 OZ. GOLD, AND ANOTHER 2.72 MILLION INFERRED TONNES AVERAGING 5.39 GRAMS GOLD FOR 471,000 OZ. GOLD. at 1.2 million tonnes grading 5.31 grams gold per tonne for 205,000 oz. gold in the indicated category, and another 2.36 million tonnes grading 5.22 grams gold for 396,000 oz. inferred.

The company plans to combine the resource at Surluga with one it completed in November 2018 on its Minto Mine South Zone, 2,500

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metres away. Both deposits are open at depth, and over 95% of the contained ounces in both deposits are between surface and a vertical depth of 350 metres.

Red Pine discovered the Minto Mine South project area in the extension of the historic Minto mine in April 2017.

It completed 26,275 metres of diamond drilling between April 2017 and July 2018.

After assays arrived in late 2018, Red Pine unveiled a resource for Minto Mine South of 105,000 tonnes grading 7.5 grams gold for 25,000 oz. gold in the indicated category, and another 354,000 tonnes of 6.6 grams gold for 75,000 oz. gold in the inferred.

The resource used a 3.5 gram gold cut-off grade, and 100% of the indicated resource is situated at a depth of less than 180 metres, while 92% of the inferred resource lies at less than a 235-metre depth.

The company also said at the time that the resource estimate covered 15–20% of the footprint at Minto Mine South.

Red Pine estimates that the combined Minto Mine South and Surluga deposits contain 1.31 million indicated tonnes grading 5.47 grams gold for 230,000 oz. gold, and another 2.72 million inferred tonnes averaging 5.39 grams gold for 471,000 oz. gold.

The two resource estimates were supported by 53,000 metres of new diamond drilling in Minto Mine South and Surluga between November 2016 and January 2019.

The resource estimate for Surluga also includes results from the sampling of 42,000 metres of historic drill core that were never assayed.

At press time, Red Pine traded at 3.5¢ in a 52-week range of 3.5¢ to 8¢. The junior explorer has 369 million common shares outstanding for a $12.9-million market capitalization. TNM

2019-07-02 8:09 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / JULY 8–21, 2019

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JULY 8–21, 2019 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / JUNE 24–28 The S&P/TSX Composite Index fell 0.87% to 16,382.20. Metal indexes moved higher, with the S&P/TSX Global Mining Index up 1.30% to 79.44, the S&P/TSX Global Base Metals Index up 1.27% to 114.27, and the S&P/TSX Global Gold Index up 1.14% to 220.50. Spot gold finished at US$1,408.90 per oz., up US$9.90 per oz., or 0.71%.

Continental Gold advanced 51¢ to $3.79 per share. The company closed a previously announced, US$100-million, gold-and-silver stream transaction with Triple Flag Mining Finance. The funds will be used to build and commission its Buritica project in Antioquia, Colombia, and for general and working capital purposes. Buritica, one of the world’s largest and highest-grade gold projects, is expected to pour first gold during the first half of 2020. In other news, Eric Sprott agreed to acquire 10.65 million common shares of the company at $3.10 per share — a 2.9% discount to the stock’s five-day, volume-weighted average price. The non-brokered private placement will raise US$25 million, and will be used for general working capital and corporate purposes.

First Quantum Minerals announced that its first copper-concentrate shipment from Cobre Panama has left the port. Cobre Panama, in the Republic of Panama’s Colon province, started production earlier this year, and is on track to produce between 140,000 and 175,000

tonnes copper in 2019, with more than 80% of production expected in the second half of the year. The mine could ramp up to over 300,000 tonnes in annual copper production over the next few years. First Quantum shares jumped 49¢ to $12.44 apiece.

Shares of Northern Dynasty Minerals gained 32% to 79¢. The company reported that the U.S. Environmental Protection Agency will restart the process to withdraw a proposed determination made under the Obama Administration in 2014 that sought to veto Northern Dynasty’s Pebble project in Alaska. The proposed determination under Section 404 of the Clean Water Act was “an unprecedented attempt to pre-emptively veto southwest Alaska’s Pebble project before it received an objective, scientific regulatory TSX MOST ACTIVE ISSUES

Barrick Gold Argex Titanium Kinross Gold B2Gold Corp Royal Nickel Suncor Energy Yamana Gold IAMGOLD OceanaGold First Quantum

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

ABX 33200 21.67 20.06 20.67 + 0.11 RGX 32069 0.03 0.02 0.02 unch 0.00 K 24370 5.28 4.92 5.06 - 0.09 BTO 21803 4.14 3.85 3.98 + 0.09 RNX 19795 0.73 0.60 0.62 - 0.09 SU 19241 42.17 40.55 40.85 - 0.90 YRI 16748 3.38 3.10 3.32 + 0.10 IMG 12174 4.64 4.25 4.43 + 0.10 OGC 11975 3.97 3.51 3.58 - 0.30 FM 11237 12.63 11.93 12.44 + 0.49

review under the National Environmental Policy Act (NEPA),” Northern Dynasty said in its June 26 news release. The company says the environmental impact statement (EIS) and federal permitting process for Pebble under NEPA that is being led by the U.S. Army Corps of Engineers continues to advance. According to Northern Dynasty, the EIS could be ready by early 2020, with a final record of decision by mid-2020. The company also closed a bought-

deal offering of 12.2 million common shares at 41¢ per share, for US$5 million in proceeds.

The company plans to use the money on engineering, environmental, permitting and evaluation expenses associated with the EIS; outreach and engagement with political and regulatory offices in Alaska, and the U.S. federal government, Alaska Native partners, and other regional and state-wide stakeholder groups; as well as for general corporate purposes. TNM

TSX GREATEST PERCENTAGE CHANGE

Eastern Platin Nthn Dynasty New Gold St Augustine Western Potash Ascendant Res Canarc Res Nickel Creek Excellon Res Karnalyte Res Rubicon Mnrls Golden Queen Prophecy Coal Anglo Pac Grp Orosur Mng Talon Metals Euro Sun Mg EurOmax Res Royal Nickel Orocobre

ELR NDM NGD SAU WRX ASND CCM NCP EXN KRN RMX GQM PCY APY OMI TLO ESM EOX RNX ORL

129 2622 9333 1740 1398 256 680 283 589 84 790 2508 564 2 772 338 2280 157 19795 156

0.27 0.84 1.28 0.03 0.27 0.45 0.06 0.06 1.04 0.26 0.83 0.03 0.21 4.10 0.08 0.23 0.59 0.07 0.73 2.99

0.18 0.60 1.02 0.02 0.22 0.35 0.05 0.05 0.87 0.21 0.62 0.03 0.18 3.21 0.05 0.17 0.44 0.07 0.60 2.59

0.26 0.79 1.27 0.03 0.27 0.44 0.06 0.06 0.99 0.25 0.66 0.03 0.18 3.21 0.06 0.19 0.49 0.07 0.62 2.59

TSX GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

KL Kirkland Lake Labrador IOR LIF Detour Gold DGC Newmont Gdcorp NGT North Am Pall PDL NovaGold Res NG Franco-Nevada FNV Eldorado Gold ELD Contintl Gold CNL First Quantum FM Nutrien NTR MAG Silver MAG Osisko Gold OR Suncor Energy SU Nexa Resources NEXA Anglo Pac Grp APY Aura Minerals ORA Gran Colombia GCM Orocobre ORL TMAC Resources TMR

+ 36.8 + 31.7 + 25.7 + 25.0 + 22.7 + 22.5 + 20.0 + 20.0 + 19.3 + 16.7 - 21.4 - 16.7 - 16.3 - 15.5 - 14.3 - 13.6 - 13.4 - 13.3 - 12.7 - 11.9

VOLUME WEEK (000s) CLOSE CHANGE

6561 56.42 1541 35.02 7018 16.52 870 50.22 838 14.51 3002 7.71 3388 111.15 8790 7.61 3743 3.79 11237 12.44 5890 70.05 1150 13.82 3868 13.65 19241 40.85 2 13.14 2 3.21 2 19.00 1220 4.17 156 2.59 550 6.20

+ 1.26 + 1.19 + 1.12 + 0.89 + 0.83 + 0.79 + 0.55 + 0.51 + 0.51 + 0.49 - 2.27 - 1.32 - 1.13 - 0.90 - 0.71 - 0.59 - 0.44 - 0.37 - 0.35 - 0.33

TSX VENTURE EXCHANGE / JUNE 24–28 T h e S & P/ T S X Ve n t u r e C o m p o s i t e Index fel l 1.20% to 585.47 du r i ng t he t rad i ng week . Spot gold rose US$9.90 per oz ., or 0.71% , to US$1,4 08.9 0 per oz . gold .

Aurion Resources topped the list of value gains, with a 40¢ jump to $1.59 per share, based on results from the first two drill holes of its 2019 campaign at the company’s Risti project in northern Fi n la nd . T he compa ny i ntersec ted a wide gold-minera lization zone in the first two of 10 proposed drill holes at t he Aa mu r usko Nor t hwest prospec t, 600 metres northwest of the Aamurusko Main target area. Drill hole 19-95 returned 13.31 gra ms gold per tonne over 20 metres starting from 70 metres downhole, including 8 metres of 22.58 grams gold, and 19-94 intersected 1.84 grams gold over 31 metres from 56 metres downhole, and ended in mineralization.

Seventy of 84 drill holes completed so far at Aamurusko — at both the Main and Northwest targets — have intersected gold mineralization. Highlights from drilling at Aamurusko Main included 789.10 grams gold over 3 metres, 42.40 grams gold over 4 metres, and 24.50 grams gold over 5 metres. Gold mineralization has

been intersected in multiple rock types to 180 met res below su r face. Au r ion notes that the R isit project’s geological setting has many similarities to the Timmins camp in northern Ontario’s Abitibi region.

G olden Daw n M i ner a l s adv a nc e d 51% — or 12¢ — to 34¢ per share, in t he wa ke of news of a proposed 5-to-1 sha re consolidat ion. T he ju nior sa id the share consolidation is “necessary to facilitate new equity investment in the company to f inance continuing business activities, and assist in its overall ma rket ing ef for ts. Golden Daw n has 77.56 million issued and outstanding sha re s , a nd a f ter t he consol id at ion, it will have 15.51 million shares. The TSX-V MOST ACTIVE ISSUES

Alexandria Min Victoria Gold RosCan Gold Leeta Gold Parlane Res Mako Mining Marifil Mines Equinox Gold Minera Alamos MAX Res

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

AZX 33785 VIT 10242 ROS 10234 HIVE 9037 IMIN 8228 MKO 6247 MFM 6227 EQX 6022 MAI 5519 MXR 5177

0.07 0.42 0.24 0.52 0.20 0.14 0.17 1.40 0.13 0.15

0.05 0.38 0.15 0.45 0.04 0.11 0.10 1.18 0.12 0.10

0.07 + 0.40 - 0.16 - 0.47 - 0.15 + 0.12 + 0.14 + 1.19 - 0.13 unch 0.14 +

0.02 0.01 0.04 0.01 0.12 0.02 0.04 0.18 0.00 0.03

company has assets in t he Greenwood mining camp of British Columbia. It has acquired t hree past-producing mines and a processing facility — Lexington, Golden Crown, May Mac mine and the Greenwood mill — all located within a 25 k m radius. Two of t he t hree mines operated until the economic downturn in 2008.

Shares of integrated phosphate fertilizer producer Itafos climbed 17¢ to 75¢, on news of a plant turnaround at its Itafos Conda division in Idaho, and record produc t ion i n May of mono a m mon iu m pho s ph at e (M A P). T he plant produced 34,288 tonnes MAP in May, exceeding a 2013 record of 32,341 tonnes. TN M

TSX-V GREATEST PERCENTAGE CHANGE

Parlane Res Milner Con Slv Golden Dawn Ml QMX Gold Saint Jean ExGen Res Inc Sandfire Res Quinto Res Kincora Copper Cons Woodjam Tres-Or Res Arcturus Vent Alliance Mng Nitinat Mnls Chinapintza Mg Vela Minerals Rizal Res Amseco Expl Inomin Mines Great Atlantic

IMIN MCA.H GOM QMX SJL EXG SFR QIT KCC WCC TRS AZN.H ALM NZZ CPA.H VLA RZL AEL.H MINE GR

8228 397 248 3527 1312 34 317 701 700 245 1780 11 144 979 45 16 365 30 595 1305

0.20 0.07 0.34 0.08 0.04 0.02 0.22 0.08 0.13 0.05 0.02 0.15 0.01 0.05 0.03 0.22 0.02 0.05 0.04 0.36

0.04 0.02 0.04 0.06 0.03 0.01 0.10 0.05 0.00 0.03 0.02 0.08 0.01 0.04 0.02 0.14 0.01 0.00 0.03 0.04

0.15 0.07 0.34 0.08 0.03 0.02 0.18 0.08 0.13 0.05 0.02 0.08 0.01 0.05 0.02 0.14 0.01 0.05 0.03 0.36

TSX-V GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

+ 328.6 + 225.0 + 51.1 + 50.0 + 50.0 + 50.0 + 50.0 + 45.5 + 44.4 + 42.9 - 92.0 - 50.0 - 50.0 - 41.2 - 40.0 - 34.9 - 33.3 - 33.3 - 28.6 - 28.0

VOLUME WEEK (000s) CLOSE CHANGE

Aurion Res Itafos AsiaBaseMetals Sailfish Rylty Parlane Res Golden Dawn Ml Filo Mg Corp Cobalt 27 Cap Mirasol Res Standard Lith Pac Booker Min Abitibi Royal Novo Res Canadian Prem Till Capital Tres-Or Res Equinox Gold Great Atlantic Garibaldi Res Rock Tech Lith

AU IFOS ABZ FISH IMIN GOM FIL KBLT MRZ SLL BKM RZZ NVO CPS TIL TRS EQX GR GGI RCK

857 1.59 31 0.75 50 0.59 216 1.41 8228 0.15 248 0.34 38 2.81 2657 4.23 249 0.74 556 0.90 68 2.00 2 12.50 746 2.11 247 0.80 0 1.88 1780 0.02 6022 1.19 1305 0.36 608 1.30 176 0.64

+ 0.40 + 0.17 + 0.14 + 0.13 + 0.12 + 0.12 + 0.11 + 0.10 + 0.10 + 0.09 - 0.50 - 0.39 - 0.33 - 0.25 - 0.24 - 0.23 - 0.18 - 0.14 - 0.12 - 0.11

U.S. MARKETS / JUNE 24–28 The Dow Jones Industrial Average fell 0.45% to 26,599.96, and the S&P 500 Index dropped 0.30% to 2,941.76. Spot gold rose 0.71%, or US$9.90 per oz., to US$1,408.90 per oz. gold.

Agnico Eagle Mines’ shares jumped US94¢ to US$51.24 per share. The gold miner reiterated its June 13 offer to acquire Alexandria Minerals in a deal valued at $26 million.

The acquisition would help Agnico consolidate another 148.2 sq. km of mining claims that cover 35 km of strike length along the Cadillac-Larder Lake break in the prospective Val-d’Or gold camp. Three of Alexandria’s properties — Orenada, Akasaba and Sleepy — collectively contain historical inferred resources of 4.6 million tonnes grading 3.5 grams gold per tonne for 526,702 contained oz. gold, and indicated resources of 7.4 million tonnes at 1.88 grams gold per tonne for 448,654 oz. gold, based on Alexandria’s estimates. Alain Blackburn, Agnico’s senior vice-president of exploration, said the company has “a long history of involvement with Alexandria, both as an equity investor, and through the purchase of the Akasaba West property in 2014,” adding that the company says Alexandria’s key properties “are highly

18_JULY8_MarketNews.indd 18

prospective and underexplored, and could potentially provide future sources of ore at our nearby Goldex mine.” Under Agnico’s proposal, each shareholder of Alexandria would have the option to receive 5¢ in cash; 0.000819355 common shares of Agnico, plus $0.000001; or 0.000819355 Agnico shares.

Agnico’s offer represents a 25% premium to the implied value of 4¢ per Alexandria share offered by Chantrell Ventures for Alexandria in May. Agnico owns 28.8 million Alexandria shares, or 5.6% of the junior’s issued and outstanding shares.

Rio Tinto climbed US$2.07 to US$62.34.

U.S. MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Barrick Gold * GOLD 109527 16.45 15.22 15.77 + 0.17 Freeport McMoR* FCX 78732 11.79 11.21 11.61 + 0.27 Yamana Gold* AUY 74663 2.57 2.36 2.52 + 0.06 Kinross Gold* KGC 72442 4.01 3.75 3.88 + 0.09 Vale* VALE 64712 13.69 13.28 13.44 - 0.09 Newmont Gdcorp* NEM 53232 38.74 37.21 38.47 + 0.98 United States S* X 53071 15.42 14.27 15.31 + 0.64 Harmony Gold* HMY 48083 2.31 2.09 2.27 + 0.10 CONSOL Energy* CNX 47759 7.45 6.78 7.31 + 0.03 Hecla Mining* HL 45651 1.90 1.66 1.80 - 0.04

The company updated its iron ore guidance on June 19, stating that its iron ore division was experiencing “operational challenges” at some of its mines, particularly in the Pilbara’s Greater Brockman hub. The difficulties have resulted in a higher proportion of certain lower-grade

products, Rio Tinto said, “partly to protect the quality of our flagship Pilbara Blend.” Given the challenges, Rio Tinto has reviewed its mine plans and revised its 2019 guidance of Pilbara shipments on a 100% basis to between 320 million and 330 million tonnes. TNM

U.S. GREATEST PERCENTAGE CHANGE

Eldorado Gold* Mosaic* Cleveland-Clif* First Majestic* Seabridge Gld* Lithium Amer* Harmony Gold* Sibanye-Stillw* United States S* AngloGold Ash* Nexa Resources* Osisko Gold* Mechel* Black Hills* Fortuna Silvr* CONSOL Energy* Nutrien* McEwen Mng* Hecla Mining* HudBay Min*

EGO MOS CLF AG SA LAC HMY SBGL X AU NEXA OR MTL BKH FSM CEIX NTR MUX HL HBM

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

20601 5.82 5.27 5.82 + 7.2 33840 25.06 23.23 25.03 + 6.9 41569 10.73 9.72 10.67 + 6.1 25806 8.13 7.51 7.91 + 6.0 2835 14.43 13.16 13.53 + 5.4 507 4.05 3.70 4.05 + 5.2 48083 2.31 2.09 2.27 + 4.6 20557 4.85 4.49 4.75 + 4.4 53071 15.42 14.27 15.31 + 4.4 22406 18.01 16.77 17.81 + 4.3 329 10.65 9.57 9.59 - 9.2 4448 11.47 10.24 10.44 - 6.6 152 2.21 2.06 2.09 - 6.3 3374 82.01 77.16 78.17 - 3.9 12476 3.06 2.83 2.85 - 3.1 1604 27.30 24.93 26.61 - 2.4 6722 55.34 53.14 53.46 - 2.4 14969 1.85 1.69 1.75 - 2.2 45651 1.90 1.66 1.80 - 2.2 3755 5.74 5.35 5.41 - 1.8

U.S. GREATEST VALUE CHANGE

MartinMarietta* MLM Rio Tinto* RIO Mosaic* MOS Kirkland Lake* KL Natural Res Pt* NRP NACCO Ind* NC Franco-Nevada* FNV Newmont Gdcorp* NEM Agnico Eagle* AEM Alcoa* AA Black Hills* BKH Nutrien* NTR Nexa Resources* NEXA Osisko Gold* OR CONSOL Energy* CEIX Chevron Corp* CVX Suncor Energy* SU Southern Copp* SCCO Mechel* MTL HudBay Min* HBM

VOLUME WEEK (000s) CLOSE CHANGE

2534 230.11 10650 62.34 33840 25.03 9258 42.92 108 35.46 68 51.94 3310 84.88 53232 38.47 11535 51.24 12881 23.41 3374 78.17 6722 53.46 329 9.59 4448 10.44 1604 26.61 25902 124.44 16077 31.16 3593 38.85 152 2.09 3755 5.41

+ 5.18 + 2.07 + 1.61 + 1.44 + 1.31 + 1.21 + 1.20 + 0.98 + 0.94 + 0.81 - 3.15 - 1.30 - 0.97 - 0.74 - 0.66 - 0.49 - 0.44 - 0.40 - 0.14 - 0.10

2019-07-02 8:10 PM

GLOBAL MINING NEWS · SINCE 1915

THE NORTHERN MINER / JULY 8–21, 2019

19

M E TA L S , M I N I N G A N D M O N EY M A R K E T S Tuesday, June 18, 2019 Precious Metals Gold Silver Platinum Palladium Base Metals Nickel Copper Lead Zinc

TSX WARRANTS

PRODUCER AND DEALER PRICES

SPOT PRICES COURTESY OF SCOTIABANK Price (US$/oz.)

Change $1333.20 +4.60 $14.78 +0.04 $799.00 +0.00 $1467.00 +115.00 Price (US$/tonne) Change $11950.00 +181.00 $5954.00 +104.00 $1916.00 +33.50 $2513.50 +42.00

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, June 25, 2019 (change from June 18, 2019 in brackets): Aluminium Alloy 6200 (0) Aluminium 1007300 (-39550) Copper 242875 (-7875) Lead 67350 (-525) Nickel 168252 (+1122) Tin 6305 (+270) Zinc 97625 (-1025)

Thermal Coal CAPP: US$40.00 per short ton Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$59.25 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$12.30 Cobalt: US$13.38/lb.

Copper: US$2.68/lb.

Copper: CME Group Futures Aug. 2019: US$2.66/lb.; Sept.: 2019: US$2.66/lb Iridium: NY Dealer Mid-mkt US$1,460.00/tr oz.

Iron Ore 62% Fe CFR China-S: US$121.2/tonne Lead: US$0.87/lb.

Molybdenum Oxide: US$12.46/lb.

Phosphate Rock: US$86.00/tonne Potash: US$226.00/tonne Rhodium: Mid-mkt US$3,330 tr. oz.

Ruthenium: Mid-mkt US$249.00/tr. oz.

Silver: Handy & Harman Base: US$15.22 per oz.; Handy & Harman Fabricated: US$19.03 per oz.

Tantalite Ore : US$186.50/kg Tin: US$8.57/lb.

Uranium: U3O8, Trade Tech spot price: US$24.30 per lb U308 Zinc: US$1.15/lb.

Prices current July 2, 2019

NORTH AMERICAN STOCK EXCHANGE INDICES

52-week

IndexName Jun 28 Jun 27 Jun 26 Jun 25 Jun 24 High Low S&P/TSX Composite 16382.20 16307.73 16312.22 16371.28 16523.47 15527.30 12400.15 S&P/TSXV Composite 585.47 580.05 580.05 578.99 589.12 1050.26 883.52 S&P/TSX 60 979.60 975.06 974.89 978.66 988.24 896.74 709.99 S&P/TSX Global Gold 220.50 219.04 220.80 221.33 224.63 218.90 149.29 DJ Precious Metals 184.21 184.21 185.33 185.52 188.22 420.72 130.95

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of May 31, 2019 (with changes from May 15, 2019) Largest short positions Sandstorm Gold SSL 17953338 -140635 5/15/2019 Nemaska Lith NMX 17100981 1788507 5/15/2019 Turquoise HIl TRQ 13977875 8540 5/15/2019 Ivanhoe Mines IVN 13552816 597068 5/15/2019 New Gold NGD 13107724 2447977 5/15/2019 Kinross Gold K 10428264 1157398 5/15/2019 Yamana Gold YRI 9358567 -395929 5/15/2019 Copper Mtn Mng CMMC 8315376 4236 5/15/2019 Barrick Gold ABX 7982698 1772576 5/15/2019 Nexgen Energy NXE 7469193 620410 5/15/2019 Sherritt Intl S 7245088 269238 5/15/2019 First Majestic FR 6698351 -40899 5/15/2019 First Quantum FM 5773894 1107284 5/15/2019 Alacer Gold ASR 5773697 478553 5/15/2019 Lucara Diam LUC 5532247 -163935 5/15/2019 Largest increase in short position NGD 13107724 2447977 5/15/2019 New Gold Nemaska Lith NMX 17100981 1788507 5/15/2019 Barrick Gold ABX 7982698 1772576 5/15/2019 Fortuna Silvr FVI 3220012 1415043 5/15/2019 McEwen Mng MUX 3778367 1264430 5/15/2019 Largest decrease in short position SU 4346631 -2610142 5/15/2019 Suncor Energy First Mg Fin FF 873901 -2163497 5/15/2019 Champion Iron CIA 457485 -1180582 5/15/2019 OceanaGold OGC 4904112 -1137921 5/15/2019 Great Panther GPR 1045857 -1064581 5/15/2019

Short positions outstanding as of May 31, 2019 (with changes from May 15, 2019) Largest short positions Atlantic Gold AGB 6868001 5325638 5/15/2019 Equinox Gold EQX 1551144 253490 5/15/2019 Novo Res NVO 1075021 -4291 5/15/2019 Cobalt 27 Cap KBLT 915815 66240 5/15/2019 Ucore Rare Mtl UCU 843517 751742 5/15/2019 First Cobalt FCC 799917 -1421672 5/15/2019 Geomega Res GMA 787467 705384 5/15/2019 ML Gold Corp MLG 756510 691236 5/15/2019 Amarillo Gold AGC 746360 -28640 5/15/2019 Commerce Res CCE 629689 629189 5/15/2019 Gratomic GRAT 617000 585084 5/15/2019 Azincourt Ener AAZ 549625 429323 5/15/2019 Plato Gold PGC 539219 491000 5/15/2019 Providence PHD 446922 446366 5/15/2019 Core Gold CGLD 434178 398155 5/15/2019 Largest increase in short position Atlantic Gold AGB 6868001 5325638 5/15/2019 Ucore Rare Mtl UCU 843517 751742 5/15/2019 Geomega Res GMA 787467 705384 5/15/2019 ML Gold Corp MLG 756510 691236 5/15/2019 Commerce Res CCE 629689 629189 5/15/2019 Largest decrease in short position First Cobalt FCC 799917 -1421672 5/15/2019 Fission 3.0 FUU 35921 -1363224 5/15/2019 Liberty One Li LBY 155402 -1164998 5/15/2019 Leeta Gold HIVE 257981 -911253 5/15/2019 Karoo Expl AHE 443 -633460 5/15/2019

DAILY METAL PRICES Daily Metal Prices Date June 26 June 25 June 24 June 21 June 20 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) Al Alloy 1210/1180 1170/1155 1145/1130 1190/1175 1215/1200 Aluminum 1802/1824 1776/1800 1746.50/1772.50 1742.50/1767 1777/1802 Copper 6005/6017 5985/6004 5916/5932 5940/5951 5960/5971.50 Lead 1919/1929 1900.50/1908.50 1887/1896 1893/1897 1915/1920 Nickel 12390/12430 12205/12285 12060/12125 12130/12175 12240/12300 Tin 18975/19000 19025/19000 19050/18950 19120/19115 19375/19300 Zinc 2622/2531 2643/2523.50 2577.50/2461 2542/2432 2585/2487.50 PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.)

Gold AM 1406.75 1429.55 1405.45 1388.35 1381.65 Gold PM 1403.95 1431.40 1405.70 1397.15 1379.50 Silver 15.26 15.40 15.37 15.29 15.33 Platinum 806.00 812.00 812.00 803.00 815.00 Palladium 1536.00 1525.00 1518.00 1500.00 1522.00

Alio Gold Inc. (ALO.WT) - 10 Warrants to purchase one common share of the Issuer at $7.00 until expiry Alio Gold Inc. J (ALO.WT.A) - One Warrant to purchase one common share of the Issuer at $8.00 until expiry Ascendant Resources (ASND.WT) - Wt buys sh @ $1.25 to Mar 7/22 eColbalt Solutions Inc. J (ECS.WT) - One Warrant to purchase one common share of the Issuer at US$1.95 per share until expiry Excellon Resources Inc (EXN.WT.A) - One warrant to purchase one common share of the Issuer at $2.80 until expiry Golden Queen Mining Co (GQM.WT) Wt buys sh @ $2 to Jul 25/19 Gran Colombia Gold (GCM.WT.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 Ltd (LYD.WT) - One Warrant to purchase one additional ordinary share of the Issuer at $0.36 per share until expiry Nemaska Lithium Inc (NMX.WT) - Wt buys sh @ $1.5 to Jul 8/19 Northern Dynasty Minerals Ltd. J (NDM. WT.A) - Wt buys sh @ $0.55 to Jul 9/20 Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21 Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21

Osisko Gold Royalties (OR.WT) - Wt buys sh @ $36.5 to Feb 18/22 Platinum Group Metals Ltd. (PTM.WT.U) - One Warrant to purchase one common share of the Issuer at US$0.17 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 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.

Avino Silver & Gold Mines Ltd. (ASM. WT) - Wt buys sh @ US$0.2 to Nov 28/19 Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.30 per share.

Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.50 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 Jet Metal (JET.WT) - Wt buys sh @ $0.25 to Sep 16/19 Kootenay Silver Inc. (KTN.WT) - Wt buys sh @ $0.55 to Apr 21/21

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

Maple Gold Mines Ltd. (MGM.WT) One warrant to purchase one common share at $0.40 per share Millennial Lithium Corp. (ML.WT) - One warrant to purchase one common share at $4.25 per share.

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

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

Trek Mining (TREK.WT) - Wt buy sh @ $3.00 to Oct 06/21 Vision Lithium Inc. (VLI.WT) - One warrant to purchase one common share at $0.15 per share.

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

NEW 52-WEEK HIGHS AND LOWS JUNE 24–28, 2019 104 New Highs Agnico Eagle Agnico Eagle* Alacer Gold Alamos Gold Alamos Gold* Alexandria Min Alexandria Min* AngloGold Ash* Arianne Phosph Arianne Phosph* AsiaBaseMetals Atacama Res* Athabasca Min Athabasca Min* Atlantic Gold* Aura Resources AurCrest Gold* Barrick Gold* Black Hills* Blackrock Gold* Centerra Gold Detour Gold DRDGOLD*

Dynacor Gld Mn El Capitan Prc* Eldorado Gold Eldorado Gold* Ely Gold Royal* Ero Copper Ero Copper* Filo Mg Corp Franco-Nevada Franco-Nevada* Generation Min* GGX Gold* God’s Lake Res Gold Fields* Golden Dawn Ml Golden Lake GoldON Res* Gowest Gold* Gran Colombia Gran Colombia* Great Atlantic Greenland M&En* Harmony Gold* Ivanhoe Mines

Ivanhoe Mines* Kinross Gold Kinross Gold* Kirkland Lake Kirkland Lake* Labrador IOR Labrador IOR* Liberty Gold* Lion One Mtls* Lithion Energy* Lundin Gold Makena Res* Marathon Gold Marathon Gold* Maverix Metals Megastar Dev New Energy Met New Energy Met* New Pac Metals New Pac Metals* Newmont Gdcorp Newmont Gdcorp* NovaGold Res NovaGold Res*

Opawica Expl* Orsu Metals Orsu Metals* Osisko Metals* Palladium One* Perseus Mng Pretium Res Pretium Res* Pure Nickel* Renaissance Gd Renaissance Gd* Royal Gold* Sandfire Res Sandfire Res* Sandstorm Gold* Semafo SilverCrest SilverCrest* Stans Energy* Talisker Res* Talon Metals Terraco Gold Tombstone Expl* Trilogy Mtls

Trilogy Mtls* Tudor Gold Tudor Gold * Uranium Hunter* Wesdome Gold* White Energy* Zephyr Mnls* 35 New Lows Advantage Lith* American Lith American Lith* Azincourt Ener Baroyeca Gold* Blue River Res Braveheart Res* Central Tim Ex CONSOL Energy* Cyntar Venture Delrey Metals eCobalt Solns eCobalt Solns* Focus Minerals* Giga Metals* Indiana Res*

Intact Gold* Intl Bethl Mng* Katanga Mng Logan Res Mariner Res MaxTech Vent* Metallica Min* Orocobre Pure Energy Red Oak Mg Rockcliff Met Scotch Creek Skyharbour Res Stuhini Explor Syrah Res* Titan Mining Valley High Mg* Vanadium One White Gold*

CANADIAN GOLD MUTUAL FUNDS FundName Jun 28 ($) AGF Glob Re A Fd MF BMO Prec Mtls Fd A 20.64 BMO ZGD 51.15 BMO ZJG 51.97 CIBC Prec Metal Fd A 10.98 Dyn Prec Metls Fd A 7.40 11.81 Galileo GOGO Harvest HGGG 22.76 Horizons HEP IG Mac GbPMetCl A 9.61 13.75 iShares XGD Mac Prec Met Cl A 50.43 13.61 NBI PrecMetFd Invt NPT Go&PrMinFd A 34.06 NPT SilverEquCl A 4.88 RBC GblPreMetFd A 36.00 35.37 Sentry Pre Met Fd A TD Prec Mtl Fd Inv 36.31

Jun 21 ($) 18.47 20.53 50.06 51.21 10.92 7.45 11.65 22.63 26.26 9.51 13.59 49.92 13.62 34.17 4.88 35.65 35.28 35.84

Change ($) Change (%) YTDChange (%) MER (%) -0.15 -0.81 -4.87 2.80 0.11 0.55 1.97 2.40 1.09 2.18 1.16 0.61 0.76 1.49 0.30 0.60 0.06 0.57 4.80 2.44 -0.05 -0.67 5.79 2.71 0.16 1.37 6.49 0.60 0.13 0.59 0.24 0.91 4.71 0.83 0.10 1.03 3.01 2.75 0.16 1.14 2.17 0.61 0.52 1.04 3.06 2.52 -0.01 -0.07 6.34 2.46 -0.11 -0.32 -1.33 3.19 -0.01 -0.11 -5.42 2.98 0.35 0.97 2.22 2.13 0.09 0.24 0.89 2.46 0.47 1.31 2.83 2.27

TotalAssets (M$) 93.32 55.66

41.94 335.68 5.00 28.48 741.95 52.28 26.02

285.99 213.31 101.91

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

Jun 28 Jun 27 Jun 26 Jun 25 Jun 24 1.3100 1.3100 1.3126 1.3180 1.3184 0.7634 0.7634 0.7618 0.7588 0.7585

Exchange rates (Quote Media, June 28, 2019) C$ to AUS C$ to EURO C$ to YEN C$ to Mex Peso C$ to SA Rand 1.0897 0.6715 82.2865 14.6422 10.8247 C$ to UK Pound C$ to China Yuan C$ to India Rupee C$ to Swiss Franc C$ to S. Korea Won 0.6025 5.2520 52.7355 0.7458 882.5087 US to EURO US to YEN US to Mex Peso US to SA Rand US to AUS 1.4276 0.8796 107.7940 19.1782 14.1705 US to UK Pound US to China Yuan US to India Rupee US to Swiss Franc US to S. Korea Won 0.7893 6.8771 69.3350 0.9769 1156.5100

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

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

19_JULY8_MMMM.indd 19

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

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

1 gram per (metric) tonne = 0.02917 troy ounces per (short) ton

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

GLOBAL MINING NEWS · SINCE 1915

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2019-07-02 8:12 PM

20

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JULY 8–21, 2019 / THE NORTHERN MINER

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: JUNE 24–28, 2019 (100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

A 1911 Gold* O 15 1911 Gold V 80 21C Metals* O 884 21C Metals 1089 37 Capital 8004 66 Resources 88 92 Resources V 593 Abacus Mining V 54 Abacus Mining* O 103 Abcourt Mines* O 770 V 995 Abcourt Mines Aben Resources* O 298 Aben Resources V 1086 O 162 Aberdeen Intl* Aberdeen Intl T 138 Abitibi Royal* O 1 Abitibi Royal V 2 AbraPlata Res* O 574 AbraPlata Res V 1405 Adamera Min* O 99 Adamera Min V 176 Adex Mining V 79 Advance Gold V 113 V 319 Advantage Lith Advantage Lith* O 153 Adventus V 93 Adventus* O 9 Aethon Mineral V 64 AEX Gold V 7 African Gold V 490 African Gold* O 1 African Metals* O 5 African Min* O 100 Aftermath Silv V 490 Aftermath Silv* O 34 Agnico Eagle T 5921 Agnico Eagle* N 11535 Aguia Resource V 384 AJN Resources 257 Alacer Gold T 4310 Alamos Gold T 5716 Alamos Gold* N 17710 Alaska Pac Egy* O 2105 Alba Minerals* O 1 Albert Mining V 1200 O 25 Albert Mining* N 12881 Alcoa* Aldebaran Res V 103 Alderon Iron* O 0 Alderon Iron T 64 Aldever Res* O 1 Aldever Res V 10 Alexandra Cap* O 37 Alexandria Min* O 4858 Alexandria Min V 33785 Alexco Res* X 2305 Alexco Res T 629 Algold Res* O 3 Algold Res V 209 Alianza Min V 541 Alianza Min* O 125 Alien Metals* O 10 Alio Gold T 654 Alio Gold* X 1103 Allegiant Gold V 183 Allegiant Gold* O 274 Alliance Mng V 144 Alliance Res* D 2472 Almaden Min T 244 Almaden Min* X 1274 Almadex Min* O 237 Almadex Min V 168 Almonty Ind * O 27 Almonty Ind T 58 Aloro Mining* O 20 Aloro Mining V 353 14 Alphamin Res * O Alphamin Res V 457 ALQ Gold 866 Altai Resource* O 13 V 159 Altai Resource Altair Res Inc V 290 Altamira Gold V 1025 O 97 Altamira Gold* Altan Nevada V 15 Altiplano Met V 157 Altius Mnrls * O 105 Altius Mnrls T 180 Alto Ventures V 485 Alto Ventures* O 261 Altura Mining* O 349 Alturas Min V 275 Altus Strat V 230 Alumina Ltd* O 40 ALX Uranium V 25 ALX Uranium* O 32 AM Resources V 97 O 1 AM Resources* Amador Gold V 425 Amani Gold* O 50 Amarc Res* O 35 Amarc Res V 129 Amarillo Gold V 615 O 185 Amarillo Gold* Amazing Energy* O 76 Amer Intl Vent* O 50 American Batt* O 764 American Creek V 947 American Creek* O 287 American CuMo* O 109 American Lith* O 203 American Lith V 479 O 119 American Mang* American Mang V 429 American Pac 3478 O 443 American Pac* AmericanSierra* O 16 X 1269 Americas Silvr* Americas Silvr T 698 Amerigo Res T 215 Amerigo Res* O 223 Amex Expl* O 51 Amex Expl V 74 Amilot Capital V 90 Amseco Expl V 30 T 418 Anaconda Mng Anaconda Mng* O 91 Andes Gold* O 65 O 20 Andover Mng* Anfield Energy* O 61 Anfield Energy V 228 Angel Gold* O 156 Angel Gold V 186 Angkor Gold V 60 Angkor Gold* O 4 Anglo American* O 1 Anglo American* O 316 Anglo Pac Grp T 2 AngloGold Ash* O 0 AngloGold Ash* N 22406 Antioquia Gold V 254 Antioquia Gold* O 32 Antler Gold V 185 Antofagasta* O 2 Apex Res * O 5 Apex Res V 2 Appia Energy 368 Appia Energy* O 118 Applied Min* O 97 Aquila Res* O 122 Aquila Res T 153 Arch Coal* N 842 Archon Mineral* O 5 Archon Mineral V 5 Arctic Star* O 60 Arctic Star V 1460 Arcturus Vent V 11 Arcus Dev Grp V 58 Arcwest Explor V 296 Arcwest Explor* O 184 Arena Min* O 5 Arena Min V 497 Argentina Lith V 17 Argentina Lith* O 7 Argentum Silvr V 210

20-23_JULY8_StockTables.indd 20

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(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Argex Titanium T 32069 O 88 Argex Titanium* Argo Gold 148 Argonaut Gold* O 83 T 3166 Argonaut Gold Arianne Phosph V 443 O 165 Arianne Phosph* Arizona Silver* O 222 Arizona Silver V 59 Armor Min V 29 Asanko Gold T 908 Asanko Gold* X 3812 Asante Gold 263 Asante Gold* O 30 Ascendant Res T 256 O 47 Ascendant Res* Ascot Res V 931 Ascot Res * O 134 Ashanti Gold V 72 Ashanti Sanko V 515 V 50 AsiaBaseMetals Asian Mineral V 220 Aston Bay V 3503 Aston Bay* O 1360 Astorius Res V 84 Astur Gold V 10 ATAC Res V 572 ATAC Res* O 256 Atacama Res* O 31399 Atalaya Mining T 0 Athabasca Min* O 12 Athabasca Min V 513 Athena Silver* O 54 Atico Mining* O 65 Atico Mining V 67 Atlanta Gold* O 79 Atlantic Gold V 1872 Atlantic Gold* O 228 Atlantic Indus V 243 Atlatsa Res* O 4 Atlatsa Res T 4 Atom Energy * O 74 Aton Resources* O 57 Aton Resources V 102 Aura Minerals* O 0 Aura Minerals T 2 Aura Resources V 382 O 16 Aura Resources* Auramex Res V 902 Aurania Res* O 101 Aurania Res V 83 Aurcana Corp V 1052 O 176 Aurcana Corp* AurCrest Gold V 130 AurCrest Gold* O 15 Aurelius Min V 273 Aurion Res * O 126 Aurion Res V 857 Aurora Royal V 21 AURYN Mining* O 4 Auryn Resource* X 884 Auryn Resource T 687 Aust Mines* O 448 Austral Gold* O 12 Austral Gold V 155 Auxico Res 150 Avalon Advance* O 892 Avalon Advance T 3324 Avarone Metals* O 20 Avarone Metals 1811 Avesoro Res T 35 Avesoro Res* O 6 Avidian Gold V 121 Avino Silver* X 1980 Avino Silver T 159 Avrupa Min V 675 Avrupa Min* O 254 Awale Res V 50 Axmin Inc V 209 Axmin Inc* O 2 Azarga Metals V 272 Azarga Metals* O 1 Azarga Uranium* O 688 Azarga Uranium T 981 Azimut Explor V 173 Azimut Explor* O 165 Azincourt Ener* O 249 Azincourt Ener V 4012 Aztec Minerals V 27 Aztec Minerals* O 56 Azteca Gold* O 6 Azucar Min V 253 Azucar Min* O 313

0.03 0.02 0.02 unch 0.00 0.06 0.02 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.15 0.10 0.11 + 0.02 0.33 0.07 1.45 1.33 1.33 - 0.04 1.86 0.85 1.91 1.72 1.78 - 0.04 2.43 1.18 0.65 0.52 0.56 - 0.04 0.65 0.35 0.49 0.40 0.41 - 0.06 0.49 0.27 0.10 0.08 0.09 + 0.01 0.14 0.04 0.12 0.11 0.12 + 0.01 0.19 0.06 0.43 0.40 0.43 + 0.03 0.59 0.30 0.85 0.78 0.83 + 0.03 1.53 0.68 0.65 0.59 0.63 + 0.03 1.17 0.50 0.06 0.05 0.05 - 0.01 0.08 0.03 0.03 0.03 0.03 + 0.00 0.05 0.03 0.45 0.35 0.44 + 0.08 1.02 0.34 0.31 0.26 0.29 + 0.03 0.76 0.26 0.79 0.69 0.69 - 0.03 1.44 0.64 0.60 0.00 0.53 - 0.02 1.03 0.47 0.04 0.04 0.04 unch 0.00 0.14 0.04 0.05 0.05 0.05 unch 0.00 0.06 0.02 0.63 0.00 0.59 + 0.14 0.63 0.12 0.11 0.10 0.10 unch 0.00 3.00 0.10 0.08 0.05 0.08 + 0.02 0.23 0.05 0.06 0.04 0.06 + 0.02 0.17 0.03 0.22 0.18 0.18 - 0.03 0.65 0.15 0.12 0.12 0.12 unch 0.00 0.31 0.09 0.29 0.25 0.27 + 0.02 0.60 0.18 0.22 0.19 0.19 + 0.00 0.45 0.14 0.00 0.00 0.00 + 0.00 0.00 0.00 3.46 0.00 3.46 - 0.04 4.49 2.88 0.53 0.47 0.52 + 0.05 0.53 0.12 0.77 0.64 0.66 + 0.01 0.77 0.16 0.03 0.03 0.03 + 0.00 0.04 0.01 0.23 0.20 0.21 + 0.01 0.45 0.17 0.30 0.28 0.28 unch 0.00 0.55 0.23 0.02 0.02 0.02 unch 0.00 0.04 0.01 2.89 2.88 2.89 - 0.01 2.90 1.40 2.21 2.13 2.19 + 0.01 2.21 1.07 0.02 0.02 0.02 - 0.01 0.05 0.01 0.06 0.06 0.06 - 0.00 0.07 0.02 0.00 0.00 0.08 unch 0.00 0.09 0.03 0.39 0.11 0.23 + 0.12 0.65 0.00 0.03 0.03 0.03 - 0.00 0.08 0.02 0.04 0.03 0.03 unch 0.00 0.11 0.02 14.62 0.00 14.62 - 0.15 16.50 1.00 19.37 19.00 19.00 - 0.44 24.00 14.60 0.09 0.00 0.08 + 0.02 0.15 0.03 0.05 0.04 0.05 + 0.01 0.05 0.01 0.07 0.06 0.07 unch 0.00 0.07 0.03 2.35 2.18 2.29 + 0.01 3.05 1.44 3.09 2.89 2.95 - 0.04 4.10 1.93 0.30 0.23 0.26 - 0.03 1.15 0.21 0.23 0.00 0.19 - 0.03 1.25 0.00 0.04 0.04 0.04 + 0.01 0.04 0.01 0.02 0.02 0.02 + 0.01 0.02 0.01 0.03 0.03 0.03 unch 0.00 0.07 0.02 1.20 0.93 1.17 + 0.26 1.63 0.57 1.60 1.22 1.59 + 0.40 2.15 0.74 0.06 0.00 0.06 unch 0.00 0.11 0.06 0.56 0.33 0.55 - 0.02 1.80 0.05 1.84 1.64 1.71 + 0.02 1.84 0.85 2.39 2.16 2.23 + 0.04 2.45 1.14 0.02 0.02 0.02 - 0.00 0.19 0.01 0.04 0.00 0.04 unch 0.00 0.40 0.00 0.06 0.06 0.06 unch 0.00 0.10 0.05 0.16 0.13 0.14 - 0.01 0.27 0.12 0.07 0.06 0.07 - 0.00 0.13 0.03 0.09 0.08 0.08 - 0.01 0.17 0.05 0.07 0.07 0.07 unch 0.00 0.08 0.02 0.11 0.09 0.11 + 0.02 0.12 0.04 1.15 0.00 1.04 + 0.11 5.99 0.42 0.83 0.65 0.83 + 0.18 3.42 0.65 0.10 0.10 0.10 - 0.01 0.68 0.09 0.59 0.51 0.55 + 0.03 1.31 0.39 0.77 0.68 0.74 + 0.05 1.74 0.53 0.03 0.03 0.03 - 0.01 0.12 0.03 0.02 0.01 0.02 - 0.00 0.10 0.01 0.08 0.08 0.08 - 0.03 0.15 0.06 0.53 0.43 0.44 - 0.07 0.66 0.11 0.40 0.37 0.37 - 0.01 0.50 0.10 0.09 0.00 0.09 - 0.03 0.15 0.08 0.06 0.00 0.06 - 0.01 0.11 0.05 0.21 0.18 0.19 + 0.00 0.24 0.15 0.28 0.24 0.25 + 0.01 0.30 0.20 0.42 0.34 0.40 + 0.08 0.52 0.22 0.32 0.27 0.27 + 0.03 0.38 0.17 0.04 0.03 0.03 - 0.01 0.08 0.03 0.05 0.04 0.04 - 0.01 0.10 0.04 0.09 0.08 0.09 + 0.01 0.29 0.07 0.07 0.05 0.07 + 0.03 0.18 0.04 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.33 0.28 0.30 - 0.04 0.84 0.26 0.25 0.21 0.23 - 0.02 0.67 0.19

B2Gold Corp T 21803 B2Gold Corp* X 35311 Balmoral Res* O 104 Balmoral Res T 308 Balto Res V 7 Bankers Cobalt V 344 Bankers Cobalt* O 25 Bannerman Res* O 720 Banyan Gold V 497 Banyan Gold* O 46 Bard Ventures V 1 Bard Ventures* O 0 Barkerville V 842 Barkerville* O 355 Barksdale Cap V 385 Barksdale Cap* O 268 V 12 Barolo Venture Baroyeca Gold V 77 O 0 Baroyeca Gold* Barrian Mining V 270 Barrick Gold T 33200 Barrick Gold * N 109527 Barsele Min* O 104 Barsele Min V 222 Batero Gold* O 58 Batero Gold V 484 O 82 Bayhorse Silvr* Bayhorse Silvr V 936 BC Moly V 15 BCM Res V 125 BE Res V 160 Bear Creek Mng V 225 Bear Creek Mng* O 95 Bearclaw Cap V 50 Bearing Lith V 38 Bearing Lith* O 22 Beauce Gold V 47 Bell Copper V 304 Bell Copper* O 50 Belmont Res V 94 Belo Sun Mng T 1544 Belo Sun Mng* O 1082 BeMetals V 585 Benchmark Met V 342 Benchmark Met* O 43 Benton Res V 249 Benton Res* O 9 Benz Mining V 175 Berkwood Res * O 101 Berkwood Res V 923 Bessor Min V 45 Bessor Min* O 15 Bird River Res 205 Bitterroot Res* O 62 Bitterroot Res V 115 Black Hills* N 3374 Black Iron T 2937 Black Iron* O 301 Black Mammoth* O 4 Black Mammoth V 165 Black Sea * O 1 Black Sea V 1 Black Tusk Res* O 6 Black Tusk Res 3026 V 230 Blackheath Res Blackrock Gold V 1258 Blackrock Gold* O 87 Blind Creek V 255 BLOX Inc* O 25 Blue Moon Zinc* O 76 Blue Moon Zinc V 228 Blue River Res V 662

4.14 3.85 3.98 + 0.09 4.40 2.77 3.15 2.93 3.03 + 0.12 3.35 2.10 0.11 0.09 0.09 - 0.00 0.19 0.07 0.14 0.13 0.13 - 0.01 0.23 0.10 0.10 0.10 0.10 unch 0.00 0.15 0.05 0.03 0.02 0.03 - 0.01 0.12 0.02 0.02 0.02 0.02 - 0.00 0.09 0.01 0.04 0.03 0.03 - 0.01 0.06 0.03 0.05 0.04 0.04 unch 0.00 0.08 0.04 0.03 0.03 0.03 + 0.00 0.06 0.02 0.14 0.00 0.14 + 0.01 1.63 0.14 0.00 0.00 0.10 unch 0.00 0.21 0.03 0.37 0.35 0.35 - 0.02 0.52 0.30 0.28 0.26 0.27 - 0.01 0.41 0.23 0.59 0.50 0.52 - 0.04 0.86 0.35 0.46 0.38 0.40 - 0.03 0.61 0.27 0.27 0.00 0.27 unch 0.00 0.30 0.09 0.01 0.00 0.05 unch 0.00 0.25 0.05 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.13 0.12 0.13 - 0.01 0.20 0.12 21.67 20.06 20.67 + 0.11 21.67 12.54 16.45 15.22 15.77 + 0.17 88.70 11.52 0.33 0.31 0.33 + 0.02 0.62 0.28 0.44 0.42 0.44 + 0.02 0.90 0.36 0.04 0.04 0.04 + 0.00 0.06 0.03 0.07 0.06 0.06 unch 0.00 0.08 0.06 0.08 0.06 0.07 - 0.01 0.13 0.04 0.10 0.09 0.09 + 0.01 0.18 0.07 0.06 0.00 0.06 unch 0.00 0.06 0.03 0.10 0.08 0.10 + 0.03 0.26 0.07 0.04 0.04 0.04 unch 0.00 0.07 0.02 1.75 1.60 1.66 + 0.06 2.04 0.89 1.32 1.21 1.28 + 0.01 2.03 0.71 0.03 0.03 0.03 unch 0.00 0.05 0.03 0.22 0.00 0.20 - 0.02 0.36 0.18 0.16 0.00 0.16 - 0.01 0.80 0.02 0.12 0.00 0.12 + 0.01 0.29 0.07 0.09 0.08 0.08 - 0.01 0.15 0.05 0.06 0.06 0.06 unch 0.00 0.12 0.03 0.09 0.08 0.08 - 0.01 0.80 0.04 0.25 0.23 0.24 unch 0.00 0.42 0.17 0.20 0.17 0.17 - 0.02 0.33 0.12 0.25 0.24 0.24 unch 0.00 0.30 0.18 0.29 0.26 0.27 - 0.02 0.40 0.16 0.22 0.19 0.22 + 0.00 0.30 0.11 0.06 0.05 0.06 unch 0.00 0.07 0.04 0.03 0.03 0.03 + 0.00 0.06 0.02 0.06 0.06 0.06 + 0.01 0.09 0.05 0.05 0.03 0.05 + 0.01 0.10 0.03 0.06 0.04 0.05 + 0.01 0.13 0.04 0.06 0.05 0.06 unch 0.00 0.20 0.05 0.04 0.04 0.04 unch 0.00 0.04 0.00 0.02 0.02 0.02 unch 0.00 0.10 0.01 0.04 0.03 0.03 - 0.01 0.09 0.01 0.05 0.00 0.05 + 0.01 0.12 0.02 82.01 77.16 78.17 - 3.15 82.01 56.42 0.12 0.10 0.10 - 0.01 0.12 0.05 0.09 0.08 0.09 + 0.00 0.09 0.03 0.04 0.04 0.04 unch 0.00 0.08 0.03 0.05 0.02 0.02 unch 0.00 0.11 0.02 0.05 0.00 0.05 - 0.00 0.07 0.01 0.00 0.00 0.06 unch 0.00 0.27 0.06 0.11 0.11 0.11 unch 0.00 1.06 0.11 0.16 0.13 0.15 + 0.02 0.29 0.11 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.13 0.10 0.13 + 0.01 0.13 0.03 0.10 0.08 0.10 + 0.01 0.10 0.02 0.06 0.06 0.06 + 0.01 0.12 0.03 0.20 0.18 0.19 - 0.01 0.25 0.03 0.02 0.00 0.02 unch 0.00 0.08 0.01 0.03 0.00 0.03 unch 0.00 0.11 0.02 0.02 0.01 0.02 unch 0.00 0.05 0.01

B

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Blue River Res* O 400 Blue Sky Uran* O 356 Blue Sky Uran V 580 Blue Star Gold V 199 O 19 BlueBird Batt* BlueBird Batt V 362 V 498 Bluenose Gold Bluestone Res* O 3 Bluestone Res V 342 Bold Ventures V 96 Bonanza Gold* O 21993 Bond Resources 11 BonTerra Res V 415 Boreal Metals V 633 Borneo Res Inv* O 19331 Bravada Gold V 239 Bravada Gold* O 55 Braveheart Res V 175 Braveheart Res* O 0 Bravo Multinat* O 36 21645 Brazil Min* O Brigadier Gold V 1783 BrightRock* O 5 Britannia Mng* O 575 Brixton Metals V 757 Brixton Metals* O 262 Broadway Gold V 469 O 44 Broadway Gold* Brookmount Exp* O 0.00 Bryn Res* O 153 BTU Metals V 230 Buenaventura* N 5012 Buffalo Coal * O 39 Buffalo Coal V 50 Bullfrog Gold* O 156 Bullion Gold* O 18 Bunker Hill 0 BWR Explor V 392

0.02 0.02 0.02 unch 0.00 0.04 0.01 0.13 0.11 0.11 - 0.00 0.18 0.09 0.18 0.15 0.15 - 0.01 0.23 0.13 0.04 0.04 0.04 + 0.01 0.04 0.02 0.19 0.17 0.19 + 0.05 0.41 0.13 0.25 0.21 0.24 + 0.01 0.56 0.14 0.12 0.11 0.11 - 0.01 0.33 0.09 0.74 0.00 0.74 + 0.03 1.16 0.65 1.00 0.95 0.99 + 0.04 1.60 0.85 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.00 0.00 0.00 + 0.00 0.00 0.00 0.18 0.17 0.17 - 0.01 0.20 0.17 2.16 2.02 2.03 - 0.07 4.90 1.46 0.07 0.05 0.06 - 0.01 0.20 0.04 0.00 0.00 0.00 + 0.00 0.00 0.00 0.09 0.08 0.09 unch 0.00 0.11 0.05 0.07 0.00 0.07 + 0.01 0.09 0.04 0.18 0.15 0.16 - 0.03 0.19 0.06 0.00 0.00 0.12 unch 0.00 0.12 0.05 0.54 0.42 0.48 - 0.06 0.95 0.02 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.18 0.14 0.15 unch 0.00 0.25 0.05 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 0.14 0.12 0.13 + 0.01 0.24 0.10 0.11 0.09 0.11 + 0.02 0.18 0.08 0.09 0.08 0.08 + 0.01 0.18 0.06 0.07 0.06 0.06 + 0.01 0.13 0.02 291 0.01 0.01 0.01 unch 0.00 0.02 0.07 0.04 0.06 + 0.01 0.10 0.01 0.16 0.14 0.15 - 0.01 0.18 0.04 17.71 16.14 16.67 + 0.14 17.78 11.67 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.14 0.11 0.12 - 0.02 0.24 0.04 0.07 0.07 0.07 unch 0.00 0.07 0.07 0.00 0.00 0.06 unch 0.00 7.70 0.05 0.05 0.04 0.04 unch 0.00 0.06 0.03

C Cabral Gold V 566 0.18 0.14 0.17 + 0.02 0.33 0.10 Cabral Gold* O 33 0.12 0.11 0.11 - 0.00 0.25 0.10 Cache Explor* O 51 0.04 0.04 0.04 - 0.00 0.05 0.01 unch 0.00 0.07 0.03 Cache Explor V 437 0.06 0.05 0.05 Cadillac Vent V 204 0.02 0.01 0.02 + 0.01 0.04 0.01 X 30 6.38 5.86 6.38 + 0.35 9.48 5.01 Caledonia Mng* Caledonia Mng T 3 7.98 7.58 7.75 - 0.09 12.26 6.63 Calibre Mng* O 24 0.46 0.43 0.44 - 0.01 0.55 0.03 Calibre Mng V 96 0.64 0.56 0.58 + 0.01 0.75 0.30 California Gld 197 0.67 0.60 0.61 unch 0.00 0.79 0.37 O 118 0.51 0.46 0.46 - 0.03 0.59 0.13 California Gld* Callinex Mines* O 212 0.04 0.03 0.04 + 0.00 0.19 0.03 Callinex Mines V 306 0.06 0.05 0.06 + 0.01 0.24 0.05 Cameco Corp* N 8817 10.78 10.29 10.73 + 0.10 13.04 9.39 Cameco Corp T 3311 14.23 13.51 14.04 + 0.03 17.12 12.31 Cameo Cobalt* O 151 0.05 0.04 0.05 + 0.00 0.31 0.03 Cameo Cobalt V 2870 0.07 0.06 0.06 unch 0.00 0.32 0.05 Camino Min* O 19 0.10 0.10 0.10 + 0.00 0.15 0.07 Camino Min V 83 0.15 0.14 0.15 + 0.01 0.20 0.09 Camrova Res* O 1 0.00 0.00 0.00 unch 0.00 0.08 0.00 Canada Carbon V 315 0.11 0.10 0.10 - 0.01 0.18 0.08 Canada Carbon* O 31 0.09 0.09 0.09 unch 0.00 0.13 0.00 Canada Coal V 200 0.03 0.02 0.03 + 0.01 0.10 0.02 0.24 0.22 0.22 + 0.00 0.79 0.01 Canada Cobalt * O 112 Canada Cobalt V 628 0.32 0.27 0.30 + 0.02 0.90 0.27 Canada One* O 1 0.01 0.01 0.01 unch 0.00 0.08 0.01 Canada One V 58 0.03 0.00 0.03 + 0.01 0.10 0.02 Canada Rare V 682 0.08 0.07 0.07 - 0.01 0.11 0.04 0.02 Canada Rare* O 109 0.06 0.05 0.05 - 0.01 0.08 Canadian Engy V 137 0.09 0.07 0.07 - 0.01 0.20 0.07 Canadian Metal 548 0.05 0.04 0.04 - 0.01 0.11 0.04 Canadian Ore V 96 0.25 0.21 0.21 - 0.03 0.45 0.14 Canadian Ore* O 25 0.18 0.16 0.18 unch 0.00 0.34 0.15 Canadian Prem V 247 1.10 0.00 0.80 - 0.25 3.98 0.75 CanAlaska Uran* O 110 0.23 0.19 0.22 + 0.03 0.30 0.16 V 144 0.29 0.26 0.29 + 0.03 0.40 0.21 CanAlaska Uran Canamex Gold* O 2039 0.03 0.02 0.02 - 0.01 0.10 0.02 Canarc Res T 680 0.06 0.05 0.06 + 0.01 0.07 0.03 Canarc Res* O 54 0.05 0.04 0.04 + 0.00 0.05 0.02 Canasil Res V 655 0.08 0.06 0.07 unch 0.00 0.13 0.05 Candelaria Mg V 10 0.23 0.23 0.23 unch 0.00 0.80 0.15 Candente Coppr T 137 0.05 0.05 0.05 unch 0.00 0.10 0.05 Candente Gold* O 50 0.01 0.01 0.01 unch 0.00 0.03 0.01 Candente Gold V 378 0.03 0.03 0.03 + 0.01 0.04 0.02 CANEX Metals V 49 0.07 0.00 0.07 unch 0.00 0.10 0.03 CaNickel Mng* O 2 0.06 0.06 0.06 unch 0.00 0.09 0.03 CaNickel Mng V 8 0.07 0.00 0.07 - 0.01 0.16 0.06 Canoe Mng Vent V 653 0.03 0.00 0.03 unch 0.00 0.04 0.02 13 0.01 0.01 0.01 unch 0.00 0.02 0.01 Canoe Mng Vent* O Canstar Res* O 2 0.03 0.03 0.03 unch 0.00 0.19 0.03 Canstar Res V 151 0.05 0.04 0.05 unch 0.00 0.30 0.04 Canterra Mnls V 1286 0.02 0.02 0.02 unch 0.00 0.04 0.01 Cantex Mn Dev* O 6 3.00 2.95 2.97 - 0.03 3.05 0.13 Cantex Mn Dev V 100 3.95 3.65 3.95 unch 0.00 4.17 0.18 Canuc Res V 21 0.04 0.00 0.04 unch 0.00 0.19 0.03 Capstone Mng T 476 0.62 0.57 0.59 - 0.01 1.04 0.48 O 0 0.00 0.00 0.09 unch 0.00 0.12 0.06 Caracara Silvr* Cardero Res V 63 0.05 0.00 0.04 unch 0.00 0.15 0.04 Cardero Res* O 60 0.03 0.00 0.03 + 0.00 0.11 0.02 Cardinal Res* O 7 0.25 0.25 0.25 unch 0.00 0.36 0.25 Cardinal Res T 132 0.33 0.31 0.31 - 0.02 0.50 0.30 Cariboo Rose V 80 0.05 0.05 0.05 unch 0.00 0.05 0.02 Carlin Gold V 5 0.00 0.00 0.02 unch 0.00 0.04 0.02 Carrara Explor 2668 0.05 0.05 0.05 unch 0.00 0.17 0.03 0.06 Cartier Iron 220 0.08 0.06 0.06 - 0.02 0.13 Cartier Res V 532 0.15 0.14 0.15 + 0.01 0.19 0.11 Carube Copper V 82 0.05 0.04 0.05 + 0.01 0.08 0.03 Casa Minerals V 1006 0.11 0.09 0.09 unch 0.00 0.24 0.09 5 0.08 0.08 0.08 unch 0.00 0.12 0.08 Casa Minerals * O Cascadero Copp V 15 0.02 0.02 0.02 unch 0.00 0.06 0.02 Cassius Vents V 50 0.06 0.06 0.06 unch 0.00 0.08 0.04 Castle Peak Mg V 204 0.02 0.02 0.02 unch 0.00 0.02 0.01 Cautivo Mining 0 0.00 0.00 0.20 unch 0.00 0.39 0.08 CellCube Enrgy 2152 0.10 0.08 0.09 - 0.01 0.44 0.07 CellCube Enrgy* O 979 0.08 0.06 0.06 - 0.01 0.34 0.06 Centamin T 76 1.98 1.78 1.88 + 0.01 2.34 1.39 Centaurus Diam* O 22 0.17 0.12 0.12 - 0.03 1.00 0.08 Centerra Gold T 5442 9.61 8.99 9.22 + 0.13 9.61 4.76 Central Iron V 21 0.02 0.02 0.02 unch 0.00 0.05 0.02 Central Tim Ex V 108 0.04 0.03 0.04 + 0.01 0.20 0.03 Centurion Mnls V 76 0.11 0.10 0.11 + 0.01 0.27 0.05 Century Cobalt* O 62 0.10 0.05 0.10 + 0.01 0.20 0.00 Century Global T 4 0.18 0.18 0.18 unch 0.00 0.22 0.11 Cerro Grande 3 0.01 0.00 0.01 unch 0.00 0.02 0.01 Cerro Mng V 108 0.30 0.29 0.29 unch 0.00 0.42 0.26 unch 0.00 0.20 0.12 Ceylon Graph V 7 0.13 0.00 0.13 Chakana Copper V 451 0.39 0.32 0.38 + 0.04 0.63 0.25 75 0.30 0.24 0.29 + 0.05 0.48 Chakana Copper* O 0.19 Chalice Gold M* O 113 0.09 0.09 0.09 + 0.00 0.12 0.08 404 0.14 0.11 0.13 + 0.01 0.16 0.10 Chalice Gold M T Champion Bear V 136 0.20 0.00 0.19 + 0.01 0.25 0.10 Champion Bear* O 139 0.15 0.13 0.15 + 0.02 0.17 0.11 Champion Iron T 3123 2.85 2.66 2.81 unch 0.00 3.15 0.89 Champion Iron* O 56 2.15 2.05 2.13 - 0.02 2.36 0.70 Chatham Rock* O 0 0.00 0.00 0.11 unch 0.00 0.14 0.10 Chatham Rock V 36 0.16 0.15 0.15 - 0.01 0.22 0.13 Chesapeake Gld* O 63 1.48 1.33 1.42 unch 0.00 1.98 1.03 Chesapeake Gld V 46 1.93 1.78 1.87 unch 0.00 2.65 1.41 Chevron Corp* N 25902 125.38 122.89 124.44 - 0.49 128.55 100.22 Chiboug Ind Mn V 719 0.20 0.18 0.19 + 0.01 0.27 0.04 Chiboug Ind Mn* O 527 0.16 0.13 0.14 + 0.00 0.19 0.03 Chilean Metals V 108 0.03 0.02 0.02 - 0.01 0.14 0.02 Chilean Metals* O 34 0.02 0.01 0.02 unch 0.00 0.11 0.01 China Gold Int T 352 1.70 1.55 1.64 + 0.09 2.35 1.41 Chinapintza Mg V 45 0.03 0.02 0.02 - 0.01 0.03 0.01 Cicada Vents V 52 0.01 0.01 0.01 unch 0.00 0.02 0.01 CIM Intl Grp 7 0.19 0.19 0.19 unch 0.00 0.63 0.19 Clarmin Explor V 80 0.12 0.12 0.12 unch 0.00 0.20 0.10 Clean Comm* O 94 0.03 0.01 0.02 + 0.00 0.04 0.01 Clean Comm V 748 0.03 0.03 0.03 + 0.01 0.05 0.02 Cleghorn Mnls V 190 0.07 0.06 0.07 + 0.01 0.11 0.06 Cleveland-Clif* N 41569 10.73 9.72 10.67 + 0.61 13.10 7.40 Cliffmont Res V 6 0.08 0.08 0.08 unch 0.00 0.90 0.05 Clifton Mng* O 104 0.12 0.10 0.12 + 0.00 0.20 0.04 Cloud Peak En* O 2059 0.07 0.06 0.06 - 0.01 3.74 0.03 CMC Metals V 239 0.07 0.00 0.06 - 0.01 0.11 0.04 CMX Gold & Sil 13 0.04 0.04 0.04 unch 0.00 0.12 0.04 CNRP Mng 242 0.37 0.32 0.33 - 0.01 2.02 0.27 CNRP Mng* O 337 0.28 0.25 0.25 - 0.00 1.58 0.20 Cobalt 27 Cap V 2657 4.26 4.10 4.23 + 0.10 9.15 3.27 Cobalt Block V 449 0.08 0.05 0.07 - 0.01 0.25 0.05 Cobalt Block* O 54 0.07 0.05 0.06 - 0.01 0.19 0.05 Coeur Mng* N 33555 4.44 3.98 4.34 + 0.15 8.55 2.78

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Colibri Res* O 0 Colibri Res V 105 V 53 Colombia Crest O 0 Colombia Crest* Colonial Coal V 168 Colorado Res V 593 O 80 Colorado Res* T 654 Columbus Gold O 265 Columbus Gold* Comet Inds V 2 Commander Res* O 0.05 V 129 Commander Res V 1220 Commerce Res O 120 Commerce Res* O 20 Compass Gold* V 318 Compass Gold X 2427 Comstock Mng* V 31 Comstock Mtls Comstock Mtls * O 171 Condor Gold* O 8 Condor Gold T 11 Condor Res V 211 Condor Res* O 70 O 10 Confedertn Ml* V 34 Confedertn Mls V 625 Conquest Res V 245 Cons Woodjam N CONSOL Coal Rs* 14.58 N 1604 CONSOL Energy* CONSOL Energy* N 47759 O 16 Constantine Mt* V 72 Constantine Mt O 64 Contact Gold* Contact Gold V 93 O 37 Contact Mnrls* O 432 Contintl Gold* Contintl Gold T 3743 Contintl Prec* O 0 Contintl Prec V 100 306 Copper Fox Mtl V 16 Copper Fox Mtl* O 877 Copper Lake Rs V 399 Copper Mtn Mng T O Copper Mtn Mng* 0.48 66 Copper North M* O 320 Copper North M V 63 Copper Reef Mg Copperbank Res 414 Copperbank Res* O 0.02 29 Coral Gold * O Coral Gold V 103 O 21 Cordoba Mnls* V 142 Cordoba Mnls Core Gold V 454 Core Gold* O 136 Core Lithium* O 64 V 881 Cornerstone Ca O 78 Cornerstone Ca* Coro Mining T 1100 Corsa Coal V 17 20 Corsa Coal * O Corvus Gold* O 54 Corvus Gold T 273 CR Capital V 236 Crest Resource 1022 Cresval Cap V 90 Critical Elem* O 92 Critical Elem V 675 V 732 CROPS Crown Mining V 124 Cruz Cobalt V 26 Cruz Cobalt* O 75 Crystal Lake V 743 Crystal Lake* O 111 Crystal Peak V 18 Crystal Peak* O 18 25 Currie Rose Rs V 18 CWN M’g Acq V Cyntar Venture 10 Cypress Dev* O 121 Cypress Dev V 513

0.01 unch 0.00 0.05 0.05 0.05 0.05 0.03 unch 0.00 0.08 0.05 0.05 0.05 0.11 unch 0.00 0.30 0.27 0.27 0.27 0.03 unch 0.00 0.21 0.00 0.00 0.17 0.21 0.44 0.38 0.42 - 0.01 0.65 0.05 0.09 0.08 0.08 - 0.01 0.17 0.03 0.07 0.05 0.05 - 0.00 0.13 0.16 0.19 0.18 0.18 - 0.01 0.31 0.11 0.15 0.13 0.13 - 0.01 0.24 2.60 unch 0.00 3.60 3.15 3.15 3.15 0.16 0.06 - 0.00 8 0.06 0.06 0.07 0.08 0.07 0.08 + 0.01 0.17 0.05 0.08 0.07 0.07 - 0.01 0.09 0.04 0.06 0.06 0.06 - 0.01 0.07 0.18 unch 0.00 0.40 0.23 0.22 0.23 0.11 0.36 0.32 0.34 - 0.03 0.71 0.12 unch 0.00 0.33 0.20 0.18 0.19 0.03 unch 0.00 0.06 0.03 0.00 0.03 0.02 0.02 0.02 - 0.01 0.05 0.01 0.25 unch 0.00 0.50 0.35 0.29 0.29 0.33 0.35 0.34 0.35 + 0.01 0.86 0.04 unch 0.00 0.09 0.06 0.05 0.06 0.03 unch 0.00 0.07 0.04 0.04 0.04 0.09 unch 0.00 0.25 0.17 0.16 0.17 0.12 0.24 0.22 0.23 - 0.01 0.40 0.01 0.02 0.02 0.02 - 0.01 0.04 0.03 0.05 0.03 0.05 + 0.02 0.09 + 0.62 21.13 100 16.67 15.63 16.67 24.78 27.30 24.93 26.61 - 0.66 47.49 7.45 6.78 7.31 + 0.03 18.37 6.78 0.28 0.45 0.43 0.43 + 0.01 0.60 0.39 unch 0.00 0.74 0.59 0.00 0.58 0.14 0.20 0.00 0.20 + 0.01 0.38 0.18 unch 0.00 0.50 0.25 0.25 0.25 0.02 0.19 0.12 0.19 + 0.07 0.45 1.33 2.94 2.51 2.91 + 0.44 3.02 1.76 3.85 3.30 3.79 + 0.51 3.98 0.23 unch 0.00 0.34 0.00 0.00 0.26 0.30 unch 0.00 0.46 0.35 0.30 0.30 0.08 0.13 0.01 + 0.09 0.08 0.09 0.07 0.06 0.07 + 0.00 0.10 0.06 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.85 0.81 0.84 + 0.02 1.29 0.65 + 0.03 1.00 29 0.65 0.00 0.65 0.02 0.00 0.02 - 0.00 0.05 0.02 0.04 0.03 0.04 + 0.01 0.07 0.03 0.02 0.02 0.02 unch 0.00 0.03 0.02 0.04 unch 0.00 0.09 0.05 0.04 0.04 0.08 0.04 + 0.01 242 0.04 0.00 0.29 0.27 0.27 - 0.02 0.34 0.24 0.32 0.38 0.38 0.38 + 0.01 0.44 0.06 0.06 0.06 0.06 - 0.00 0.14 0.08 0.11 0.08 0.10 + 0.02 0.17 0.19 0.23 0.20 0.23 + 0.02 0.35 0.14 0.18 0.16 0.17 + 0.01 0.28 0.10 unch 0.00 0.55 0.11 0.10 0.10 0.14 0.27 0.22 0.25 - 0.01 0.40 0.03 0.22 0.17 0.17 - 0.05 0.29 0.05 0.11 0.10 0.10 + 0.01 0.12 0.61 0.71 0.00 0.71 - 0.04 1.45 0.55 0.51 0.55 - 0.02 1.10 0.37 1.13 1.71 1.58 1.66 + 0.06 2.72 1.55 2.24 2.09 2.19 + 0.10 3.39 0.02 unch 0.00 0.08 0.06 0.04 0.06 0.10 0.08 0.08 + 0.01 0.16 0.08 0.02 unch 0.00 0.05 0.03 0.03 0.03 0.30 0.38 0.30 0.30 - 0.05 0.80 0.39 0.49 0.40 0.41 - 0.06 1.05 0.02 0.03 0.02 0.02 - 0.01 0.06 0.05 0.07 0.05 0.07 - 0.01 0.17 0.04 unch 0.00 0.15 0.04 0.04 0.04 0.02 0.04 0.02 0.03 - 0.00 0.11 0.24 0.34 0.29 0.31 - 0.02 0.74 0.18 0.25 0.22 0.22 - 0.03 0.57 0.12 0.15 0.14 0.15 + 0.01 0.44 0.09 0.12 0.11 0.12 + 0.01 0.34 0.07 0.07 0.07 unch 0.00 0.12 0.05 0.08 0.07 0.07 - 0.01 0.11 0.03 0.07 unch 0.00 0.15 0.07 0.07 0.07 0.12 0.15 0.14 0.15 - 0.01 0.32 0.17 unch 0.00 0.42 0.20 0.19 0.20

D-F Dajin Res V 915 Dajin Res* O 557 Dakota Ter Res* O 102 Daleco Res* O 224 O 0 Damara Gold* Damara Gold V 8 Danakali* O 56 Debut Dmds 110 Decade Res V 599 Decade Res* O 518 V 287 Deep-South Res DeepRock Min 104 V 538 Defense Metals O 113 Defense Metals* O 378 Defiance Silvr* Defiance Silvr V 1125 Delrand Res V 408 Delrey Metals * O 149 Delrey Metals 488 T 1422 Denison Mines X 1798 Denison Mines* Desert Gold V 104 Desert Lion* O 1 Desert Lion V 118 283 Desert Mtn Egy V Detour Gold T 7018 O 883 Diamante Min* Diamcor Mng V 273 O 44 Diamcor Mng* O 196 Diamond Disc* V 43 Diamond Fields O 0 Diamond Fields* Dios Expl V 431 V 38 Discovery Harb O 96 Discovery Met* V 240 Discovery Met 34694 O Discovery Min* V 290 Discovery-Corp District Cop V 1879 Ditem Explor* O 159 O 3 Diversified Rs* DNI Metals* O 97 O 40 Dolat Ventures* Dolly Vard Sil* O 152 258 Dolly Vard Sil V V 279 Doubleview Cap DRDGOLD* N 746 Dundee Prec Mt T 1965 O 18 Dunnedin Vent* Durango Res V 164 Durango Res* O 300 V 1027 DV Resources 174 Dynacor Gld Mn T 30 Dynacor Gld Mn* O O 45 DynaResource* Dynasty Gold V 62 E3 Metals* O 52 E3 Metals V 220 V 26 Eagle Graphite O 20 Eagle Graphite* Eagle Plains V 174 262 V East Africa 81 East Africa * O 401 East Asia Mnls V 48 East Asia Mnls* O EastCoal Inc V 1 O 80 Eastern Platin* Eastern Platin T 129 Eastfield Res V 586 O 745 Eastmain Res* Eastmain Res T 3552 39 Eco Oro Mnls 0 Eco Oro Mnls* O eCobalt Solns T 2207 704 O eCobalt Solns* V 151 Edgewater Expl O 5 Edgewater Expl* Edison Cobalt V 413 O 0 Edison Cobalt* El Capitan Prc* O 1482

0.04 0.06 0.04 0.05 + 0.01 0.12 0.03 0.05 0.03 0.03 + 0.00 0.09 0.05 0.04 0.05 - 0.01 0.19 0.02 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.02 unch 0.00 0.03 0.02 0.02 0.02 0.03 unch 0.00 0.07 0.05 0.00 0.05 0.47 0.50 0.47 0.50 + 0.01 0.69 0.01 unch 0.00 0.02 0.02 0.01 0.01 0.03 unch 0.00 0.10 0.03 0.03 0.03 0.02 unch 0.00 0.07 0.02 0.02 0.02 0.06 0.10 0.08 0.10 + 0.03 0.23 0.03 0.05 0.03 0.04 + 0.01 0.10 0.12 0.20 0.17 0.17 - 0.02 0.25 0.09 0.16 0.13 0.14 - 0.00 0.25 0.12 0.20 0.18 0.20 + 0.01 0.25 0.16 0.27 0.24 0.26 + 0.01 0.32 0.25 0.00 0.71 nch u 0.53 0.54 0.49 0.10 0.07 0.08 - 0.00 0.30 0.07 0.10 unch 0.00 0.50 0.12 0.10 0.11 0.59 0.71 0.67 0.70 - 0.02 0.89 0.44 0.54 0.51 0.53 - 0.01 0.69 0.14 unch 0.00 0.26 0.15 0.15 0.15 0.05 unch 0.00 0.73 0.50 0.50 0.50 0.04 0.12 0.11 0.12 + 0.02 0.99 0.20 0.18 0.20 + 0.03 0.27 0.13 16.74 15.41 16.52 + 1.12 16.74 9.38 0.01 0.05 0.04 0.05 - 0.00 0.24 0.09 0.18 0.14 0.17 + 0.02 0.50 0.07 0.13 0.09 0.13 + 0.03 0.31 0.00 0.00 0.00 0.00 - 0.00 0.00 0.07 0.16 0.14 0.15 + 0.02 0.19 0.00 unch 0.00 0.12 0.00 0.00 0.00 0.04 0.05 0.04 0.04 - 0.01 0.08 0.01 unch 0.00 0.08 0.04 0.04 0.04 0.14 0.18 0.17 0.18 - 0.00 0.28 0.17 0.23 0.21 0.23 - 0.01 0.41 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.01 unch 0.00 0.02 0.01 0.01 0.01 0.02 0.03 0.02 0.02 - 0.01 0.13 0.00 0.00 0.00 0.00 - 0.00 0.00 0.01 unch 0.00 0.05 0.01 0.01 0.01 0.03 0.09 0.04 0.07 - 0.01 0.09 0.10 0.31 0.25 0.30 - 0.01 1.80 0.21 0.19 0.21 + 0.02 0.42 0.14 0.28 0.25 0.27 + 0.03 0.56 0.19 0.08 0.12 0.09 0.09 + 0.01 0.18 1.64 3.07 2.88 3.05 + 0.10 3.07 4.98 4.61 4.88 - 0.04 4.98 2.56 0.05 0.06 0.06 0.06 + 0.01 0.17 0.04 0.07 0.07 0.07 - 0.01 0.10 0.04 unch 0.00 0.07 0.06 0.06 0.06 0.04 0.05 0.04 0.05 + 0.01 0.23 1.85 1.71 1.79 + 0.05 1.85 1.41 1.38 0.00 1.34 + 0.03 1.44 1.02 0.36 unch 0.00 1.25 0.95 0.36 0.95 0.07 0.08 0.08 0.08 - 0.01 0.24 0.22 0.33 0.32 0.32 - 0.01 0.38 0.23 unch 0.00 0.50 0.43 0.39 0.43 0.03 0.07 0.00 0.07 + 0.01 0.21 0.04 0.06 0.04 0.06 + 0.02 0.14 0.08 0.09 0.08 0.09 - 0.01 0.15 0.23 0.18 0.22 + 0.04 0.29 0.14 0.14 0.14 0.14 unch 0.00 0.18 0.10 0.07 0.06 0.06 unch 0.00 0.10 0.03 0.05 0.00 0.05 - 0.01 0.08 0.02 0.05 unch 0.00 0.30 0.06 0.00 0.06 0.12 0.20 0.14 0.18 + 0.04 0.26 0.17 0.27 0.18 0.26 + 0.07 0.34 0.03 unch 0.00 0.07 0.06 0.05 0.05 0.07 0.13 0.11 0.11 - 0.00 0.20 0.10 0.18 0.14 0.16 - 0.01 0.27 0.13 0.00 0.13 + 0.02 0.27 0.10 0.00 0.00 0.07 unch 0.00 0.77 0.00 0.22 0.26 0.22 0.22 - 0.03 1.08 0.17 0.20 0.17 0.18 - 0.00 0.82 0.06 unch 0.00 0.17 0.10 0.00 0.10 0.06 unch 0.00 0.12 0.09 0.06 0.06 0.04 0.06 0.04 0.05 + 0.01 0.18 0.03 unch 0.00 0.12 0.00 0.00 0.03 0.00 0.04 0.01 + 0.03 0.04 0.02

2019-07-02 8:12 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / JULY 8–21, 2019

Week

12-month

Exc Volume High Low Last Change High Low

El Nino Vent* O 2 0.02 0.02 0.02 unch 0.00 0.04 0.02 65 0.03 0.03 0.03 + 0.01 0.05 0.03 El Nino Vent V 126 0.09 0.07 0.07 - 0.01 0.25 0.06 Elcora Adv Mat V Elcora Res* O 54 0.07 0.06 0.06 - 0.01 0.19 0.05 N 20601 5.82 5.27 5.82 + 0.39 5.82 2.52 Eldorado Gold* Eldorado Gold T 8790 7.65 6.95 7.61 + 0.51 7.65 3.36 Eloro Res* O 16 0.16 0.16 0.16 unch 0.00 0.47 0.13 0.15 Eloro Res V 600 0.26 0.19 0.26 + 0.06 0.65 Ely Gold Royal V 482 0.20 0.18 0.18 unch 0.00 0.20 0.09 Ely Gold Royal* O 483 0.16 0.14 0.14 + 0.00 0.16 0.07 18 0.28 0.00 0.27 + 0.00 0.33 0.23 Elysee Dev * O Elysee Dev V 58 0.35 0.33 0.33 - 0.03 0.42 0.31 0.08 Emerita Res V 11 0.10 0.09 0.09 - 0.01 0.35 Emgold Mining* O 67 0.11 0.10 0.10 - 0.01 0.15 0.03 Emgold Mining V 287 0.14 0.13 0.13 - 0.02 0.22 0.05 V 10 0.15 0.15 0.15 unch 0.00 0.23 0.11 Empire Metals Empress Res V 228 0.05 0.05 0.05 unch 0.00 0.14 0.03 unch 0.00 1.80 1.25 EMX Royalty V 146 1.65 1.58 1.60 EMX Royalty* X 368 1.26 1.21 1.22 + 0.01 1.47 1.00 Encanto Potash* O 6 0.07 0.07 0.07 + 0.01 0.22 0.07 V 21 0.10 0.10 0.10 unch 0.00 0.30 0.09 Encanto Potash V 555 0.16 0.13 0.16 + 0.02 0.21 0.05 EnCore Energy Endeavour Mng T 1914 22.36 20.50 21.35 + 0.43 24.65 16.34 O 24 16.72 15.35 16.27 + 0.40 18.87 12.38 Endeavour Mng* Endeavr Silver* N 10153 2.15 1.96 2.05 - 0.01 3.35 1.68 Endeavr Silver T 1687 2.82 2.58 2.70 - 0.03 4.40 2.27 Endurance Gold* O 50 0.03 0.03 0.03 unch 0.00 0.05 0.02 Endurance Gold V 50 0.04 0.04 0.04 unch 0.00 0.07 0.03 2.15 Energy Fuels* X 6087 3.26 2.87 3.13 - 0.10 4.09 Energy Fuels T 983 4.33 3.78 4.07 - 0.27 5.38 2.72 Enforcer Gold V 93 0.04 0.03 0.04 unch 0.00 0.18 0.03 Engineer Gold V 170 0.12 0.10 0.12 + 0.01 0.13 0.05 Engold Mines V 280 0.09 0.08 0.09 + 0.01 0.21 0.08 Engold Mines* O 250 0.07 0.00 0.07 + 0.01 0.15 0.06 Ensurge* O 5 0.04 0.04 0.04 unch 0.00 0.08 0.02 Entree Res* X 294 0.35 0.30 0.33 + 0.00 0.48 0.28 Entree Res T 136 0.46 0.42 0.42 - 0.02 0.61 0.39 ePower Metals* O 0 0.06 0.00 0.06 + 0.00 0.23 0.04 Equinox Gold V 6022 1.40 1.18 1.19 - 0.18 1.45 0.85 Equitorial Ex* O 125 0.02 0.02 0.02 unch 0.00 0.05 0.02 Equitorial Ex V 691 0.04 0.04 0.04 + 0.01 0.08 0.02 Erdene Res Dev* O 111 0.15 0.00 0.14 - 0.01 0.33 0.13 616 0.21 0.19 0.19 - 0.01 0.44 0.18 Erdene Res Dev T Erin Ventures* O 21 0.03 0.03 0.03 unch 0.00 0.22 0.03 Erin Ventures V 378 0.05 0.04 0.04 - 0.01 0.30 0.04 Ero Copper T 1848 23.00 20.75 22.18 + 0.35 23.00 7.62 Ero Copper* O 4 17.27 16.28 16.28 - 0.20 17.27 5.84 Eros Res Corp V 113 0.08 0.00 0.07 unch 0.00 0.11 0.07 Eros Res Corp V 113 0.08 0.00 0.07 unch 0.00 0.11 0.07 Eskay Mng V 237 0.08 0.00 0.07 - 0.01 0.38 0.07 Essex Minerals V 29 0.06 0.06 0.06 unch 0.00 0.12 0.03 Ethos Gold* O 217 0.20 0.17 0.19 - 0.01 0.25 0.09 0.12 Ethos Gold V 598 0.27 0.23 0.25 - 0.01 0.34 Etruscus Res 48 0.39 0.36 0.36 + 0.02 0.50 0.24 Euro Manganese V 398 0.21 0.18 0.18 - 0.05 0.44 0.15 Euro Sun Mg T 2280 0.59 0.44 0.49 - 0.08 1.25 0.23 Euro Sun Mg* O 783 0.48 0.31 0.37 - 0.06 1.00 0.17 EurOmax Res T 157 0.07 0.07 0.07 - 0.01 0.21 0.02 EurOmax Res* O 15 0.06 0.06 0.06 unch 0.00 0.14 0.01 European Elect V 57 0.06 0.04 0.05 - 0.02 0.35 0.04 European Elect* O 181 0.05 0.03 0.03 - 0.01 0.27 0.03 European Metal* O 600 0.00 0.00 0.00 unch 0.00 0.00 0.00 V 3 0.00 0.00 0.01 unch 0.00 0.13 0.01 Eurotin Everton Res* O 70 0.03 0.02 0.03 - 0.00 0.03 0.01 Everton Res V 77 0.03 0.00 0.03 unch 0.00 0.04 0.02 EVI Global Grp 1309 1.06 0.99 1.01 + 0.02 1.64 0.16 Evolving Gold* O 1 0.05 0.00 0.05 unch 0.00 0.07 0.00 unch 0.00 1.63 0.27 Evrim Res V 156 0.31 0.30 0.31 Excellon Res* O 312 0.78 0.65 0.76 + 0.14 1.15 0.44 Excellon Res T 589 1.04 0.87 0.99 + 0.16 1.46 0.59 Excelsior Mng* O 123 0.72 0.67 0.68 - 0.01 0.96 0.53 Excelsior Mng T 179 0.93 0.88 0.91 - 0.01 1.21 0.71 ExGen Res Inc V 34 0.02 0.01 0.02 + 0.01 0.03 0.01 Explor Res* O 256 0.02 0.01 0.01 - 0.01 0.04 0.01 Explor Res V 1027 0.03 0.02 0.02 unch 0.00 0.04 0.02 Explorex Res 105 0.25 0.20 0.25 - 0.01 0.45 0.20 Explorex Res* O 7 0.19 0.17 0.17 - 0.02 0.28 0.16 0.21 Falco Res V 587 0.28 0.25 0.28 + 0.02 0.58 Falco Res * O 636 0.21 0.19 0.21 + 0.01 0.45 0.10 Falcon Gold V 2734 0.03 0.03 0.03 unch 0.00 0.06 0.02 Fancamp Expl V 233 0.10 0.09 0.10 unch 0.00 0.11 0.04 Far Res* O 63 0.05 0.04 0.05 - 0.00 0.88 0.04 Far Res 1257 0.07 0.06 0.07 unch 0.00 0.26 0.06 Fengro Industr V 40 0.02 0.02 0.02 unch 0.00 0.12 0.02 Fidelity Min V 2197 0.05 0.04 0.04 unch 0.00 0.10 0.03 Fidelity Min* O 80 0.00 0.00 0.04 unch 0.00 0.06 0.03 Filo Mg Corp * O 3 2.12 0.00 2.12 + 0.12 2.12 1.55 38 3.01 2.65 2.81 + 0.11 3.01 2.00 Filo Mg Corp V Finlay Minrls V 40 0.04 0.03 0.04 + 0.01 0.05 0.02 Fiore Gold* O 1086 0.37 0.32 0.35 + 0.03 0.39 0.16 Fiore Gold V 1268 0.49 0.42 0.45 + 0.03 0.49 0.21 Fire River Gol* O 0 0.00 0.00 0.02 unch 0.00 2.41 0.00 unch 0.00 0.05 0.02 Firebird Res V 0 0.00 0.00 0.02 FireFox Gold V 5 0.14 0.00 0.13 + 0.03 0.39 0.09 Firestone Vent V 99 0.05 0.00 0.05 unch 0.00 0.10 0.04 Fireweed Zinc V 99 0.60 0.55 0.57 - 0.04 1.47 0.55 Fireweed Zinc* O 49 0.45 0.44 0.45 - 0.01 1.13 0.41 Firma Holdings* O 2 0.02 0.00 0.02 - 0.00 0.06 0.01 First Cobalt * O 742 0.13 0.11 0.12 + 0.00 0.39 0.10 First Cobalt V 2771 0.17 0.15 0.15 - 0.01 0.50 0.14 First Colombia* O 4590 0.00 0.00 0.00 unch 0.00 0.00 0.00 First Energy 4 0.18 0.18 0.18 unch 0.00 0.20 0.07 First Energy* O 1 0.07 0.07 0.07 unch 0.00 0.24 0.07 First Majestic* N 25806 8.13 7.51 7.91 + 0.45 8.48 4.59 First Majestic T 4518 10.70 9.93 10.34 + 0.49 11.09 6.12 0.24 0.22 0.23 + 0.02 0.46 0.21 First Mg Fin T 8541 First Mg Fin * O 4699 0.19 0.16 0.18 + 0.01 0.35 0.16 First Point* O 42 0.10 0.09 0.10 + 0.01 0.12 0.06 First Quantum T 11237 12.63 11.93 12.44 + 0.49 20.63 9.45 V 214 0.40 0.37 0.40 unch 0.00 1.96 0.36 First Vanadium First Vanadium* O 184 0.31 0.28 0.31 + 0.00 1.60 0.26 Fission 3.0 V 416 0.10 0.09 0.10 + 0.01 0.30 0.08 Fission 3.0* O 235 0.08 0.07 0.08 + 0.01 0.22 0.06 Fission Uran* O 556 0.37 0.35 0.37 + 0.01 0.58 0.33 Fission Uran T 1166 0.49 0.47 0.48 + 0.01 0.75 0.45 Fjordland Exp* O 60 0.03 0.03 0.03 unch 0.00 0.24 0.03 Fjordland Exp V 151 0.07 0.06 0.07 + 0.01 0.30 0.05 Focus Graphite* O 713 0.03 0.02 0.02 + 0.00 0.04 0.01 Focus Graphite V 256 0.03 0.03 0.03 unch 0.00 0.06 0.02 Focus Minerals* O 12 0.15 0.00 0.15 unch 0.00 0.15 0.15 0.23 Foran Mng V 89 0.30 0.26 0.28 + 0.01 0.45 Forsys Metals T 134 0.17 0.16 0.17 + 0.01 0.32 0.16 Fort St J Nick V 63 0.15 0.14 0.15 unch 0.00 0.42 0.12 26 0.13 0.13 0.13 unch 0.00 0.23 0.09 Fort St James* O Fortescue Met* O 14 6.35 0.00 6.32 + 0.22 6.43 2.53 Fortuna Silvr T 5510 4.02 3.71 3.73 - 0.14 7.78 3.22 Fortuna Silvr* N 12476 3.06 2.83 2.85 - 0.09 5.94 2.39 Fortune Bay V 37 0.40 0.00 0.39 + 0.04 0.41 0.19 Fortune Bay* O 10 0.31 0.00 0.24 - 0.00 0.31 0.10 0.07 Fortune Mnrls T 438 0.10 0.10 0.10 + 0.01 0.19 Fortune Mnrls* O 277 0.08 0.07 0.07 + 0.00 0.14 0.05 Forum Energy* O 1205 0.05 0.04 0.05 + 0.01 0.06 0.02 0.03 Forum Energy V 1782 0.07 0.06 0.07 + 0.02 0.08 Four Nines 2 0.00 0.00 0.20 unch 0.00 0.40 0.10 18 0.06 0.00 0.06 unch 0.00 0.10 0.06 Fox River Res Fox River Res* O 1 0.04 0.04 0.04 unch 0.00 0.06 0.04 FPX Nickel V 41 0.13 0.00 0.13 unch 0.00 0.18 0.08 N 3310 86.81 82.58 84.88 + 1.20 86.81 58.26 Franco-Nevada* Franco-Nevada T 3388 114.36 108.34 111.15 + 0.55 114.36 76.53 Franklin Mng* O 10 0.00 0.00 0.00 unch 0.00 0.00 0.00 Freedom Egy V 5 0.02 0.00 0.02 unch 0.00 0.09 0.01 0.05 Freegold Vent T 799 0.07 0.06 0.07 + 0.01 0.13 Freeport McMoR* N 78732 11.79 11.21 11.61 + 0.27 18.14 9.47 Freeport Res V 15 0.08 0.07 0.08 unch 0.00 0.11 0.06 Fremont Gold V 211 0.08 0.00 0.08 - 0.01 0.19 0.07 Fremont Gold* O 106 0.12 0.06 0.07 - 0.00 0.18 0.05 Fresnillo plc* O 12 11.43 11.00 11.00 - 0.15 15.44 9.23 Frontier Lith V 59 0.33 0.31 0.31 unch 0.00 0.48 0.27 Frontline Gold V 153 0.01 0.01 0.01 unch 0.00 0.02 0.01 Full Metal Mnl* O 0 0.00 0.00 0.00 unch 0.00 0.00 0.00 Fura Gems V 932 0.21 0.15 0.16 - 0.01 0.50 0.14 Fura Gems* O 84 0.16 0.11 0.13 + 0.02 0.40 0.11

G-H G2 Goldfields* O 1 G2 Goldfields V 389 Gabriel Res* O 3 Gabriel Res V 92 Gainey Capital V 226 Galane Gold * O 145 Galane Gold V 565 Galantas Gold* O 0 Galantas Gold V 140 Galore Res V 820 Galway Gold * O 2 Galway Gold V 5 Galway Mtls* O 13 Galway Mtls V 83 GAR Limited 2456 Garibaldi Res V 608 Garibaldi Res * O 65 Gatling Explor* O 12 Gatling Explor V 309

20-23_JULY8_StockTables.indd 21

0.19 0.19 0.19 unch 0.00 0.22 0.04 0.34 0.28 0.29 + 0.01 0.43 0.11 0.32 0.32 0.32 + 0.00 0.35 0.20 0.43 0.40 0.42 - 0.03 0.49 0.29 0.11 0.09 0.10 unch 0.00 0.16 0.04 0.05 0.04 0.05 + 0.01 0.05 0.03 0.06 0.05 0.06 unch 0.00 0.07 0.04 0.00 0.00 0.04 unch 0.00 0.10 0.04 0.07 0.07 0.07 unch 0.00 0.15 0.06 0.05 0.03 0.04 - 0.01 0.05 0.01 0.10 0.09 0.09 + 0.00 0.12 0.00 0.12 0.00 0.12 unch 0.00 0.20 0.10 0.27 0.00 0.25 - 0.02 0.30 0.10 0.37 0.33 0.34 - 0.01 0.44 0.13 0.06 0.03 0.04 + 0.01 0.22 0.03 1.48 1.16 1.30 - 0.12 3.29 0.69 1.09 0.88 1.01 - 0.08 2.50 0.51 0.30 0.28 0.29 + 0.00 0.34 0.21 0.40 0.37 0.40 unch 0.00 0.58 0.13

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

General Moly T 8 General Moly* X 1125 O 8 Generation Min* Generation Min 90 Genesis Mtls* O 83 Genesis Mtls V 614 Genius Metals 62 Gensource Pot V 1110 V 935 Geomega Res Geomega Res* O 107 Gespeg Res V 362 Getchell Gold * O 100 Getchell Gold 76 Getty Copper V 34 GFG Resources V 926 O 259 GFG Resources* GFM Res V 25 GGL Res V 15 GGX Gold V 242 GGX Gold* O 23 Giga Metals V 223 Giga Metals* O 140 Gitennes Expl V 772 Giyani Gold V 1657 Giyani Gold* O 425 V 33 GK Resources Glacier Lake V 195 Gldn Predator* O 250 Gldn Predator V 1600 Glen Eagle Res* O 35 Glen Eagle Res V 29 Glencore Plc* O 2574 Global Atomic* O 63 Global Atomic T 345 Global Battery V 75 O 1 Global Battery* Global Energy* O 35 Global Energy V 328 Global Gold* O 0 Global Li-Ion* O 22 Global Li-Ion 428 GlobalMin Vent* O 11 Globex Mng* O 19 Globex Mng T 63 GMV Minerals V 41 GMV Minerals* O 9 GNCC Capital* O 645477 Go Cobalt* O 2 Go Cobalt 44 GobiMin V 5 1 God’s Lake Res GoGold Res T 436 Gold Dynamics* O 147 Gold Fields* O 0 Gold Fields* N 40210 Gold Finder Ex V 440 Gold Finder Ex* O 0 Gold Lakes* O 24 Gold Reserve* O 168 Gold Reserve V 53 X 7765 Gold Resource* Gold Rush Cari V 405 Gold Std Vents T 410 Gold Std Vents* X 1221 Goldbank Mng V 0 Goldcliff Res* O 60 Goldcliff Res V 52 Golden Arrow V 441 Golden Arrow* O 437 Golden Band* O 90 Golden Cariboo V 2 Golden Dawn Ml V 248 Golden Dawn Ml* O 29 Golden Goliath* O 43 Golden Goliath V 145 Golden Harp V 12 Golden Hope V 237 Golden Hope* O 35 Golden Lake 210 Golden Mnls T 143 Golden Mnls* X 2180 Golden Pursuit* O 0 Golden Pursuit V 59 Golden Queen T 2508 Golden Queen* O 5371 Golden Ridge V 1539 Golden Secret V 130 Golden Share V 32 Golden Star T 545 Golden Star* X 2897 Golden Tag V 197 Golden Valley* O 14 Golden Valley V 163 Goldex Res* O 5 Goldex Res V 14 Goldgroup Mng T 64 Goldgroup Mng* O 80 GoldMining* O 681 GoldMining T 853 GoldON Res V 105 GoldON Res* O 26 Goldplay Expl* O 126 Goldplay Expl V 430 GoldQuest Mng V 730 Goldrea Res 138 Goldrea Res* O 136 Goldrich Mng* O 158 O 178 Goldsource Min* Goldsource Min V 1939 Goldstar Mnls V 159 Goldstrike Res V 228 GoldTrain Res 189 Goliath Res V 515 Goliath Res* O 68 Gossan Res V 172 GoviEx Uranium V 922 GoviEx Uranium* O 580 Gowest Gold V 83 Gowest Gold* O 2 GPM Metals* O 2 GPM Metals V 63 Gran Colombia* O 210 Gran Colombia T 1220 Granada Gold V 319 Granada Gold* O 11 V 419 Grande Portage Grande Portage* O 19 Granite Creek V 120 Graphite Egy* O 8 Graphite Egy 1 Graphite One* O 71 Graphite One V 61 Gratomic* O 0 Gratomic V 131 Gray Rock Res V 8 Great Atlantic V 1305 Great Bear Res V 1084 Great Bear Res* O 221 Great Lakes Gr* O 14 Great Panther T 1060 Great Panther* X 4277 Great Thunder V 366 Green Arrow V 150 Green River 100 Green Swan Cap V 27 Green Valley M V 12 Greencastle Rs V 216 Greenland M&En* O 0.04 Greenshield Ex V 3 Grenville Gold 5 Grid Metals V 163 Grid Metals* O 37 Grizzly Discvr* O 382 Grizzly Discvr V 212 Grosvenor Res V 12 Group Eleven V 173 Group Ten Mtls* O 52 Group Ten Mtls V 313 GrowMax Res* O 87 GrowMax Res V 4156 GSP Resource V 49 GT Gold V 932 GT Gold * O 12 Gungnir Res* O 514 Gungnir Res V 531 Gunpoint Expl V 24 Guyana Gldflds T 2616 Guyana Goldstr V 510 Guyana Goldstr* O 63 Handa Mining V 100 Handeni Gold* O 0 Hannan Metals V 75 Hannan Metals* O 33 Happy Ck Mnrls V 1

0.48 0.44 0.47 + 0.01 0.63 0.22 0.37 0.33 0.35 - 0.00 0.46 0.16 0.28 0.19 0.23 + 0.04 0.28 0.03 0.30 0.00 0.29 + 0.03 0.33 0.10 0.06 0.05 0.06 - 0.00 0.08 0.04 0.08 0.07 0.07 unch 0.00 0.12 0.05 0.18 0.17 0.18 + 0.01 0.25 0.12 0.09 0.08 0.09 unch 0.00 0.16 0.08 0.17 0.13 0.15 - 0.01 0.23 0.07 0.13 0.10 0.12 - 0.01 0.17 0.05 0.03 0.02 0.03 + 0.01 0.05 0.02 0.14 0.11 0.13 - 0.02 0.19 0.11 0.18 0.16 0.17 - 0.01 3.60 0.13 0.03 0.00 0.03 unch 0.00 0.07 0.02 0.22 0.18 0.19 - 0.01 0.35 0.17 0.16 0.14 0.14 - 0.01 0.25 0.13 0.05 0.05 0.05 unch 0.00 0.05 0.04 0.07 0.00 0.07 unch 0.00 0.13 0.07 0.29 0.23 0.23 - 0.04 0.42 0.15 0.24 0.18 0.18 - 0.02 0.24 0.04 0.21 0.19 0.20 + 0.01 0.37 0.15 0.17 0.00 0.14 - 0.00 0.29 0.11 0.04 0.03 0.04 unch 0.00 0.09 0.02 0.28 0.19 0.22 - 0.01 0.40 0.07 0.21 0.15 0.17 - 0.01 0.31 0.06 0.20 0.19 0.19 + 0.01 0.20 0.15 0.08 0.07 0.07 unch 0.00 0.55 0.07 0.24 0.17 0.21 + 0.02 0.35 0.13 0.31 0.22 0.28 + 0.03 0.46 0.18 0.08 0.08 0.08 unch 0.00 0.13 0.06 0.11 0.00 0.10 - 0.01 0.18 0.08 7.08 6.42 6.89 - 0.15 9.58 6.31 0.37 0.35 0.37 + 0.01 0.39 0.21 0.49 0.46 0.49 + 0.03 0.52 0.28 0.10 0.09 0.10 + 0.02 0.25 0.07 0.07 0.07 0.07 unch 0.00 0.19 0.06 0.05 0.04 0.04 + 0.01 0.09 0.03 0.07 0.06 0.06 + 0.01 0.12 0.04 0.00 0.00 1.31 unch 0.00 2.00 1.30 0.15 0.09 0.15 + 0.05 0.21 0.04 0.20 0.12 0.19 + 0.05 0.28 0.06 0.50 0.00 0.50 + 0.10 30.00 0.31 0.28 0.26 0.28 + 0.01 0.32 0.19 0.38 0.34 0.37 + 0.02 0.42 0.25 0.14 0.13 0.14 - 0.01 0.32 0.07 0.11 0.10 0.10 - 0.01 0.23 0.07 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.11 0.08 0.08 - 0.03 0.26 0.03 0.10 0.00 0.10 - 0.01 0.38 0.07 0.27 0.00 0.27 - 0.01 0.45 0.20 5.50 0.00 5.50 + 0.40 5.50 1.51 0.43 0.37 0.39 + 0.01 0.45 0.19 0.00 0.00 0.00 - 0.00 0.01 0.00 0.00 0.00 3.83 unch 0.00 4.10 2.40 5.75 5.23 5.41 + 0.06 5.75 2.20 0.07 0.07 0.07 - 0.01 0.46 0.06 0.00 0.00 0.05 unch 0.00 0.33 0.04 0.04 0.00 0.04 + 0.01 0.10 0.00 2.08 1.62 1.85 + 0.28 2.90 1.40 2.50 2.27 2.35 + 0.02 3.79 2.27 3.65 3.26 3.38 + 0.10 7.33 2.73 0.13 0.10 0.10 - 0.02 0.17 0.05 1.42 1.32 1.37 - 0.02 2.40 1.17 1.08 1.00 1.06 + 0.06 1.86 0.86 0.00 0.00 0.11 unch 0.00 0.17 0.07 0.09 0.08 0.09 - 0.01 0.10 0.03 0.12 0.11 0.12 unch 0.00 0.15 0.05 0.27 0.21 0.22 - 0.02 0.55 0.19 0.20 0.16 0.16 - 0.02 0.42 0.14 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.05 0.00 0.05 unch 0.00 0.07 0.03 0.34 0.04 0.34 + 0.12 1.48 0.10 0.04 0.00 0.04 unch 0.00 0.22 0.02 0.03 0.03 0.03 + 0.01 0.05 0.00 0.05 0.00 0.04 - 0.01 0.06 0.02 0.17 0.00 0.17 + 0.01 0.20 0.06 0.11 0.09 0.11 + 0.01 0.11 0.05 0.08 0.08 0.08 unch 0.00 0.08 0.03 0.14 0.12 0.14 unch 0.00 0.14 0.12 0.49 0.37 0.39 unch 0.00 0.49 0.26 0.37 0.27 0.28 + 0.03 0.38 0.19 0.00 0.00 0.06 unch 0.00 0.09 0.05 0.09 0.07 0.07 - 0.01 0.15 0.02 0.03 0.03 0.03 - 0.01 0.22 0.02 0.03 0.02 0.02 + 0.00 0.17 0.01 0.20 0.17 0.18 - 0.01 0.54 0.08 1.50 1.30 1.40 + 0.02 3.10 1.10 0.10 0.00 0.10 + 0.01 0.18 0.07 5.70 4.93 5.30 - 0.21 6.22 3.24 4.36 3.81 4.03 - 0.32 4.67 2.43 0.04 0.03 0.03 unch 0.00 0.08 0.03 0.28 0.26 0.27 - 0.01 0.30 0.16 0.37 0.33 0.35 - 0.01 0.39 0.22 0.07 0.07 0.07 unch 0.00 0.57 0.07 0.09 0.00 0.09 unch 0.00 0.77 0.08 0.05 0.00 0.05 unch 0.00 0.08 0.04 0.04 0.03 0.03 - 0.00 0.06 0.02 0.75 0.68 0.70 + 0.01 0.97 0.52 0.98 0.89 0.91 unch 0.00 1.11 0.71 0.90 0.00 0.90 + 0.06 0.90 0.12 0.69 0.58 0.69 + 0.06 0.68 0.09 0.13 0.11 0.11 - 0.01 0.22 0.09 0.17 0.14 0.14 - 0.01 0.30 0.11 0.16 0.13 0.14 - 0.01 0.22 0.08 0.09 0.09 0.09 unch 0.00 0.14 0.04 0.06 0.00 0.06 + 0.00 0.08 0.03 0.01 0.01 0.01 - 0.00 0.03 0.01 0.11 0.08 0.09 - 0.03 0.16 0.02 0.15 0.12 0.12 - 0.02 0.23 0.04 0.05 0.00 0.05 unch 0.00 0.12 0.03 0.04 0.00 0.04 unch 0.00 0.25 0.04 0.10 0.09 0.09 - 0.01 0.40 0.07 0.08 0.00 0.08 + 0.01 0.29 0.06 0.06 0.05 0.05 - 0.01 0.21 0.04 0.06 0.05 0.05 unch 0.00 0.10 0.05 0.16 0.15 0.16 + 0.01 0.25 0.12 0.12 0.11 0.12 + 0.00 0.20 0.09 0.41 0.34 0.34 - 0.06 0.75 0.25 0.30 0.25 0.25 - 0.01 0.30 0.01 0.03 0.03 0.03 unch 0.00 0.04 0.02 0.05 0.04 0.05 unch 0.00 0.06 0.03 3.55 3.12 3.18 - 0.23 3.55 1.57 4.68 4.07 4.17 - 0.37 4.68 2.03 0.14 0.11 0.12 - 0.03 0.24 0.09 0.10 0.08 0.08 - 0.01 0.18 0.07 0.15 0.12 0.12 - 0.01 0.34 0.08 0.10 0.10 0.10 + 0.00 0.25 0.06 0.07 0.06 0.07 + 0.01 0.23 0.05 0.25 0.23 0.23 - 0.02 1.52 0.10 0.00 0.00 0.47 unch 0.00 1.35 0.02 0.23 0.19 0.20 - 0.03 1.00 0.00 0.29 0.26 0.27 - 0.01 0.60 0.24 0.04 0.04 0.04 unch 0.00 0.13 0.03 0.04 0.04 0.04 + 0.01 0.17 0.04 0.13 0.12 0.13 + 0.03 0.17 0.05 0.36 0.04 0.36 - 0.14 1.50 0.30 3.98 3.46 3.97 + 0.03 4.24 0.49 3.01 2.66 2.97 - 0.02 3.19 0.37 0.04 0.04 0.04 unch 0.00 0.10 0.01 1.17 1.07 1.12 + 0.07 1.58 0.70 0.89 0.82 0.85 + 0.03 1.19 0.54 0.03 0.02 0.03 unch 0.00 0.03 0.01 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.06 0.06 0.06 unch 0.00 0.07 0.04 0.03 0.03 0.03 unch 0.00 0.07 0.02 0.09 0.09 0.09 unch 0.00 2.00 0.06 0.08 0.06 0.08 + 0.01 0.09 0.02 6421 0.11 0.09 0.11 + 0.01 0.11 0.13 0.13 0.13 unch 0.00 0.15 0.05 0.23 0.23 0.23 unch 0.00 0.70 0.12 0.12 0.11 0.12 + 0.01 0.17 0.05 0.08 0.08 0.08 - 0.00 0.12 0.04 0.05 0.04 0.04 - 0.00 0.11 0.03 0.06 0.05 0.05 unch 0.00 0.15 0.04 0.10 0.08 0.08 - 0.02 0.20 0.08 0.05 0.04 0.04 - 0.01 0.20 0.04 0.10 0.09 0.10 + 0.00 0.17 0.01 0.14 0.13 0.14 unch 0.00 0.23 0.12 0.07 0.06 0.06 - 0.01 0.12 0.05 0.10 0.09 0.09 + 0.01 0.16 0.07 0.18 0.15 0.18 + 0.03 0.26 0.13 0.97 0.89 0.91 unch 0.00 2.15 0.41 0.74 0.00 0.69 - 0.00 1.62 0.31 0.06 0.05 0.06 - 0.00 0.29 0.04 0.09 0.08 0.08 unch 0.00 0.39 0.06 0.48 0.45 0.45 - 0.03 0.55 0.32 1.06 0.96 1.03 + 0.10 5.13 0.80 0.14 0.13 0.13 unch 0.00 0.35 0.12 0.10 0.10 0.10 + 0.01 0.26 0.09 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.00 0.00 0.02 unch 0.00 0.06 0.02 0.12 0.08 0.09 - 0.03 0.21 0.05 0.08 0.05 0.07 + 0.00 0.17 0.04 0.00 0.00 0.14 unch 0.00 0.20 0.11

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Harfang Explor V 66 Harmony Gold* N 48083 Harte Gold* O 1094 Harte Gold T 4264 Harvest Gold* O 70 Harvest Gold V 556 Hawkeye Gld&Di V 797 Heatherdale Rs V 205 Hecla Mining* N 45651 Hemcare Health* O 53 Heron Res* O 5 Highbank Res V 145 Highland Copp V 192 Highland Copp* O 101 Highway 50 Gld V 37 Highway 50 Gld* O 126 HiHo Silver 338 Hinterland Mtl* O 1 Hochschild Mg* O 1 Homeland Egy* O 530 Honey Badger E V 192 Horizonte Mnls T 85 10 Hornby Bay Mnl* O Hornby Bay Mnl V 23 HudBay Min T 3813 HudBay Min* N 3755 Hudson Res V 162 Hudson Res* O 142 Hunt Mng* O 5 Hut 8 Mining V 1777 Hut 8 Mining* O 430 Hybrid Mineral V 436

0.29 0.26 0.27 + 0.01 0.32 0.18 2.31 2.09 2.27 + 0.10 2.31 1.43 0.21 0.19 0.20 - 0.00 0.38 0.15 0.28 0.25 0.26 - 0.02 0.55 0.21 0.02 0.01 0.02 - 0.00 0.08 0.00 0.02 0.02 0.02 unch 0.00 0.10 0.01 0.04 0.03 0.04 unch 0.00 0.11 0.03 0.03 0.03 0.03 unch 0.00 0.04 0.02 1.90 1.66 1.80 - 0.04 3.81 1.21 1.45 1.10 1.39 - 0.05 1.54 0.05 0.38 0.38 0.38 unch 0.00 0.48 0.35 0.02 0.02 0.02 - 0.01 0.05 0.01 0.04 0.03 0.04 - 0.01 0.14 0.03 0.03 0.02 0.03 + 0.00 0.12 0.02 0.17 0.15 0.15 unch 0.00 0.48 0.14 0.11 0.11 0.11 - 0.00 0.37 0.10 0.03 0.03 0.03 unch 0.00 0.09 0.02 0.01 0.01 0.01 unch 0.00 0.14 0.01 2.37 2.37 2.37 - 0.04 2.70 1.90 1.10 0.82 0.92 - 0.14 3.21 0.18 0.03 0.00 0.03 unch 0.00 0.18 0.02 0.04 0.04 0.04 unch 0.00 0.08 0.03 0.01 0.01 0.01 + 0.00 0.03 0.01 0.03 0.00 0.02 unch 0.00 0.05 0.02 7.55 7.01 7.09 - 0.18 10.42 4.51 5.74 5.35 5.41 - 0.10 7.83 3.44 0.45 0.39 0.45 + 0.04 0.53 0.32 0.35 0.29 0.35 + 0.04 0.39 0.25 0.10 0.10 0.10 unch 0.00 0.21 0.00 2.94 2.52 2.69 + 0.06 3.75 0.76 2.23 1.91 2.06 + 0.06 2.85 0.60 0.04 0.04 0.04 unch 0.00 0.25 0.04

I-Minerals* O 33 I-Minerals V 116 IAMGOLD T 12174 40655 IAMGOLD* N Icon Explor* O 150 Iconic Mnls * O 69 Iconic Mnls V 361 IEMR Res V 30 iMetal Res V 1553 iMetal Res* O 190 IMPACT Silver V 879 O 7 Impala Platnm* Imperial Metal T 68 Imperial Metal* O 20 379 Imperial Mg Gr V Inca One Gold* O 10 Inca One Gold V 126 34 Inception Mng * O Independence G* O 1 V 107 Independence G Indiana Res* O 2 Indico Res V 178 Indigo Expl V 231 Infinite Lith* O 1 Infinite Lith V 370 Inform Res V 4 Inomin Mines V 595 O 10 Inspiration Mg* Intact Gold* O 0 Intact Gold V 203 Integra Res* O 343 Integra Res V 864 Inter-Rock Mnl V 2 O 10 Inter-Rock Mnl* Intercontinent V 3 Intercontinent* O 1 Intgr Egy Sol* O 906 Intl Battery 254 Intl Battery* O 275 1 Intl Bethl Mng* O Intl Bethl Mng V 312 Intl Cobalt* O 472 Intl Cobalt 123 Intl Lithium* O 25 Intl Lithium V 123 Intl Montoro* O 216 Intl Montoro V 317 6 Intl Prospect * O Intl Prospect V 73 Intl Samuel Ex* O 40 Intl Samuel Ex V 1213 27416 Intl Star* O Intl Tower Hil* X 636 Intl Tower Hil T 39 Intl Zeolite V 638 Intl Zeolite* O 36 Intrepid Pots* N 1931 INV Metals* O 9 INV Metals T 123 Inventus Mg * O 110 Inventus Mg V 233 InZinc Mining V 492 O 109 InZinc Mining* Ireland* O 49 Irving Res* O 169 Irving Res 195 IsoEnergy Ltd V 993 O 9 Itafos* Itafos V 31 Itoco Inc* O 2 Ivanhoe Mines* O 397 Ivanhoe Mines T 5341 Jade Leader* O 69 Jade Leader V 128 Jaeger Res * O 4 Jaeger Res V 67 Jaguar Mng* O 517 Jaguar Mng T 2998 Japan Gold V 385 Japan Gold* O 108 Jaxon Mining V 373 Jayden Res V 27 Jazz Res V 37 JDF Explor Inc 250 Jervois Mining V 23 Jiulian Res V 315 Jourdan Res V 618 Jubilee Gold V 25 Juggernaut Exp* O 151 Juggernaut Exp V 1996 Jupiter Gold* O 1 K2 Gold V 213 K92 Mining* O 684 K92 Mining V 1255 Kaizen Discov V 79 Kaizen Discvry* O 48 V 117 Kapuskasing Gd Karam Min 265 Karmin Expl V 23 Karnalyte Res T 84 Karoo Expl V 381 KAT Expl* O 103431 Katanga Mng T 942 Kenadyr Mining V 699 Kenadyr Mining* O 74 Kermode Res V 23 Kerr Mines* O 170 Kerr Mines T 365 Kesselrun Res V 1021 O 565 Kesselrun Res* Kestrel Gold V 1639 Kilo Goldmines V 536 Kincora Copper* O 183 Kincora Copper V 700 Kingsmen Res V 107 Kingsmen Res* O 2 Kingsrose Mng* O 149 Kinross Gold* N 72442 Kinross Gold T 24370 Kintavar Exp V 281 Kirkland Lake* N 9258 Kirkland Lake T 6561 Klondike Gold* O 202 Klondike Gold V 673 Klondike Silv* O 6 Klondike Silv V 1059 Kombat Copper* O 250 Kombat Copper V 81 Komet Resource V 349 Kootenay Silvr* O 189 Kootenay Silvr V 588 Kootenay Zinc* O 4 Kootenay Zinc 187 KOPR Point 350 Kore Mining * O 44 Kore Mining V 990 Kutcho Copper * O 68 KWG Res 233

0.07 0.05 0.05 - 0.02 0.18 0.05 0.08 0.07 0.07 - 0.01 0.23 0.06 4.64 4.25 4.43 + 0.10 8.06 3.08 3.53 3.22 3.38 + 0.11 6.16 2.28 0.08 0.08 0.08 unch 0.00 0.21 0.07 0.08 0.06 0.08 + 0.01 0.14 0.06 0.10 0.08 0.10 + 0.01 0.19 0.08 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.07 0.06 0.06 unch 0.00 0.19 0.04 0.04 0.04 0.04 unch 0.00 0.14 0.03 0.29 0.26 0.28 + 0.01 0.41 0.20 4.75 4.75 4.75 unch 0.00 4.75 1.15 2.55 2.30 2.54 + 0.04 3.50 0.93 1.96 1.86 1.96 + 0.07 2.60 0.72 0.07 0.06 0.06 unch 0.00 0.11 0.05 0.03 0.03 0.03 - 0.00 0.05 0.02 0.05 0.04 0.04 - 0.01 0.07 0.04 0.18 0.00 0.15 - 0.02 0.55 0.00 0.04 0.04 0.04 unch 0.00 0.08 0.03 0.07 0.06 0.06 - 0.01 0.11 0.04 0.03 0.01 0.01 - 0.02 0.03 0.01 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.02 0.02 0.02 unch 0.00 0.02 0.01 0.04 0.04 0.04 unch 0.00 0.14 0.04 0.07 0.07 0.07 - 0.01 0.18 0.05 0.00 0.00 0.04 unch 0.00 0.18 0.03 0.04 0.03 0.03 - 0.01 0.07 0.02 0.03 0.03 0.03 unch 0.00 0.04 0.00 0.00 0.00 0.07 unch 0.00 0.10 0.05 0.06 0.06 0.06 unch 0.00 0.17 0.05 0.70 0.65 0.68 + 0.00 0.72 0.44 0.93 0.85 0.88 - 0.02 0.95 0.61 0.00 0.00 0.22 unch 0.00 0.36 0.20 0.16 0.16 0.16 unch 0.00 0.27 0.16 0.13 0.13 0.13 unch 0.00 0.54 0.09 0.07 0.00 0.07 unch 0.00 0.41 0.07 0.00 0.00 0.00 + 0.00 0.00 0.00 0.15 0.10 0.12 - 0.01 0.34 0.05 0.11 0.07 0.08 - 0.01 0.26 0.03 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.03 0.02 0.03 unch 0.00 0.07 0.02 0.02 0.01 0.02 - 0.00 0.12 0.01 0.02 0.00 0.02 - 0.01 0.15 0.01 0.04 0.03 0.03 - 0.01 0.09 0.02 0.06 0.00 0.06 unch 0.00 0.12 0.03 0.04 0.03 0.03 + 0.00 0.06 0.02 0.05 0.05 0.05 unch 0.00 0.09 0.04 0.09 0.09 0.09 + 0.01 0.23 0.08 0.15 0.00 0.15 + 0.02 0.30 0.11 0.03 0.03 0.03 unch 0.00 0.10 0.02 0.03 0.03 0.03 + 0.01 0.13 0.02 0.00 0.00 0.00 - 0.00 0.00 0.00 0.60 0.53 0.56 - 0.01 0.68 0.35 0.79 0.72 0.74 - 0.01 0.90 0.48 0.14 0.11 0.11 - 0.01 0.29 0.05 0.10 0.09 0.09 - 0.00 0.22 0.01 3.37 3.23 3.36 + 0.06 4.41 2.51 0.32 0.29 0.32 + 0.02 0.59 0.25 0.43 0.38 0.43 + 0.02 0.83 0.32 0.10 0.09 0.10 + 0.01 0.18 0.07 0.13 0.12 0.13 + 0.01 0.25 0.10 0.05 0.00 0.05 + 0.01 0.12 0.03 0.03 0.03 0.03 unch 0.00 0.10 0.02 0.17 0.11 0.17 + 0.02 0.20 0.03 2.37 2.16 2.33 - 0.00 2.40 0.70 3.13 2.84 3.00 - 0.07 3.19 0.91 0.50 0.42 0.49 + 0.02 0.66 0.28 0.58 0.00 0.57 + 0.13 1.87 0.39 0.75 0.00 0.75 + 0.17 2.42 0.53 0.30 0.20 0.30 + 0.01 0.32 0.02 3.27 2.99 3.19 + 0.10 3.16 1.50 4.27 3.96 4.16 + 0.09 4.16 2.00 0.26 0.21 0.21 - 0.02 0.34 0.13 0.33 0.28 0.28 - 0.02 0.44 0.13 0.01 0.01 0.01 + 0.00 0.02 0.01 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.14 0.11 0.11 - 0.01 0.28 0.05 0.19 0.15 0.15 - 0.01 0.37 0.07 0.29 0.27 0.27 unch 0.00 0.38 0.07 0.22 0.21 0.22 + 0.01 0.28 0.06 0.05 0.05 0.05 + 0.01 0.15 0.05 0.02 0.02 0.02 unch 0.00 0.20 0.01 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.04 0.04 0.04 unch 0.00 0.05 0.01 0.20 0.16 0.19 + 0.04 0.20 0.16 0.04 0.03 0.04 unch 0.00 0.18 0.01 0.03 0.03 0.03 unch 0.00 0.09 0.02 0.64 0.57 0.64 unch 0.00 0.64 0.57 0.09 0.08 0.09 + 0.02 1.10 0.05 0.13 0.10 0.11 - 0.01 0.59 0.07 0.90 0.00 0.90 unch 0.00 2.25 0.90 0.19 0.17 0.19 + 0.01 0.33 0.16 1.41 1.27 1.37 - 0.01 1.43 0.51 1.83 1.66 1.78 - 0.04 1.89 0.67 0.06 0.05 0.06 + 0.01 0.11 0.05 0.04 0.03 0.04 + 0.00 0.08 0.03 0.04 0.03 0.03 unch 0.00 0.21 0.03 0.12 0.11 0.12 unch 0.00 0.15 0.05 0.90 0.75 0.75 - 0.01 0.96 0.60 0.26 0.21 0.25 + 0.04 0.61 0.15 0.06 0.05 0.05 unch 0.00 0.38 0.04 0.00 0.00 0.00 - 0.00 0.00 0.00 0.34 0.30 0.31 - 0.01 1.00 0.30 0.08 0.07 0.08 + 0.01 0.19 0.05 0.06 0.05 0.05 - 0.00 0.13 0.04 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.16 0.13 0.14 + 0.01 0.17 0.07 0.20 0.18 0.19 - 0.01 0.22 0.11 0.05 0.04 0.05 + 0.01 0.10 0.03 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.03 0.02 0.02 + 0.01 0.03 0.01 0.02 0.01 0.01 unch 0.00 0.04 0.01 0.09 0.07 0.09 + 0.02 0.23 0.07 0.13 0.00 0.13 + 0.04 0.29 0.08 0.39 0.30 0.30 unch 0.00 0.70 0.20 0.30 0.30 0.30 unch 0.00 0.52 0.14 0.16 0.13 0.14 - 0.02 0.16 0.13 4.01 3.75 3.88 + 0.09 4.01 2.38 5.28 4.92 5.06 - 0.09 5.28 3.15 0.16 0.14 0.15 - 0.01 0.45 0.11 44.04 41.32 42.92 + 1.44 44.04 17.26 57.99 54.57 56.42 + 1.26 57.99 22.42 0.26 0.24 0.26 + 0.02 0.34 0.10 0.36 0.32 0.34 + 0.02 0.44 0.17 0.03 0.02 0.03 + 0.01 0.05 0.02 0.05 0.04 0.04 unch 0.00 0.07 0.03 0.07 0.07 0.07 unch 0.00 0.13 0.05 0.11 0.10 0.11 unch 0.00 0.21 0.05 0.13 0.11 0.12 unch 0.00 0.28 0.11 0.11 0.09 0.10 - 0.01 0.13 0.08 0.15 0.12 0.13 - 0.02 0.16 0.11 0.06 0.04 0.04 - 0.02 0.17 0.02 0.07 0.00 0.06 unch 0.00 0.29 0.05 0.10 0.10 0.10 unch 0.00 2.50 0.01 0.19 0.19 0.19 + 0.02 0.21 0.09 0.29 0.23 0.28 + 0.04 0.35 0.08 0.16 0.13 0.13 - 0.02 0.37 0.11 0.01 0.01 0.01 + 0.01 0.02 0.01

I-J-K

(100s) Stock

Week

21

12-month

Exc Volume High Low Last Change High Low

L Labrador Gold* O 0 Labrador Gold V 83 Labrador IMH* O 33 Labrador IOR* O 4 Labrador IOR T 1541 Lara Expl V 54 Laramide Res T 586 Laredo Res* O 1158 Largo Res T 3830 Largo Res* O 1316 Lateral Gold V 4 V 177 Latin American Latin American* O 89 Latin Metals* O 13 Latin Metals V 13 Laurion Mnl Ex* O 500 Laurion Mnl Ex V 1205 Le Mare Gold* O 16 74 Le Mare Gold V Leading Edge* O 884 Leading Edge V 640 Leagold Mg T 1780 Leagold Mg* O 304 Leeta Gold V 9037 Legion Metals 728 Leo Res* O 6 Lepanto Con Mg* O 5 Levon Res Ltd T 198 Levon Res Ltd * O 385 Libero Copper* O 80 Libero Copper V 270 Liberty Gold* O 621 Liberty One Li V 115 Liberty One Li* O 411 LiCo Energy* O 59 LiCo Energy V 261 Lincoln Mng V 395 Lion One Mtls V 502 Lion One Mtls* O 456 Lions Bay Cap V 57 Lions Bay Mg * O 1 Lions Bay Mg 19 Lithion Energy* O 31 N 507 Lithium Amer* Lithium Amer T 437 Lithium Chile V 278 Lithium Chile* O 88 Lithium Corp* O 229 O 1 Lithium Energi* Lithium Energi V 20 Lithium Expl* O 478 Lithoquest Dia V 262 Lithoquest Dia* O 1 LKA Gold* O 86 Lode-Star Mg* O 60 Logan Res* O 0 Logan Res V 502 Lomiko Mtls V 351 Lomiko Mtls* O 109 Loncor Res T 652 Lone Star Gold* O 3 Lonmin plc* O 13 Los Andes* O 2 Los Andes V 72 Lucara Diam T 795 Lucky Min V 747 Lucky Min* O 128 Luckystrike V 74 Lumina Gold V 256 Lumina Gold* O 81 Luminex Res V 17 Lundin Gold T 602 Lundin Mng* O 137 10228 Lundin Mng T Lupaka Gold * O 172 Lupaka Gold V 213 Lydian Intl* O 131 Lydian Intl T 319 Lynas Corp* O 884 Lynas Corp* O 249

0.17 0.17 0.17 unch 0.00 0.21 0.12 0.23 0.00 0.20 - 0.03 0.33 0.14 0.00 0.00 0.00 + 0.00 0.11 0.00 26.74 25.68 26.74 + 1.01 26.74 17.11 35.02 33.55 35.02 + 1.19 34.72 22.25 0.51 0.46 0.48 - 0.03 0.74 0.41 0.34 0.31 0.33 + 0.01 0.52 0.24 0.00 0.00 0.00 + 0.00 0.04 0.00 1.92 1.60 1.81 - 0.11 4.65 1.44 1.48 1.21 1.37 - 0.09 3.56 1.07 0.14 0.14 0.14 unch 0.00 0.89 0.13 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.09 0.09 0.09 - 0.00 0.09 0.01 0.12 0.12 0.12 unch 0.00 0.48 0.08 0.07 0.07 0.07 + 0.00 0.08 0.05 0.11 0.10 0.11 + 0.01 0.11 0.07 0.04 0.04 0.04 + 0.01 0.15 0.00 0.06 0.04 0.04 - 0.01 0.18 0.03 0.28 0.19 0.20 - 0.07 0.43 0.07 0.36 0.25 0.27 - 0.09 0.58 0.10 2.05 1.92 1.99 + 0.05 2.69 1.28 1.58 1.47 1.53 + 0.02 2.06 0.95 0.52 0.45 0.47 - 0.01 1.08 0.24 0.51 0.45 0.47 + 0.02 0.83 0.18 0.04 0.04 0.04 unch 0.00 0.60 0.01 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.13 0.12 0.13 + 0.01 0.25 0.07 0.10 0.09 0.09 - 0.01 0.18 0.06 0.09 0.07 0.07 - 0.01 0.10 0.04 0.11 0.10 0.10 - 0.01 0.14 0.07 0.41 0.36 0.39 - 0.01 0.41 0.21 0.10 0.09 0.09 unch 0.00 0.30 0.06 0.08 0.06 0.07 + 0.00 0.23 0.04 0.04 0.03 0.03 - 0.01 0.18 0.01 0.05 0.04 0.04 unch 0.00 0.50 0.04 0.02 0.01 0.01 unch 0.00 0.03 0.01 0.75 0.67 0.70 - 0.03 0.79 0.35 0.60 0.50 0.54 - 0.02 0.60 0.24 0.04 0.04 0.04 - 0.01 0.12 0.04 0.08 0.00 0.08 + 0.02 0.14 0.00 0.11 0.00 0.11 unch 0.00 0.20 0.03 0.26 0.23 0.26 + 0.03 0.26 0.02 4.05 3.70 4.05 + 0.20 5.54 2.75 5.29 4.86 5.28 + 0.21 7.18 3.74 0.42 0.39 0.42 + 0.03 1.01 0.39 0.32 0.29 0.32 + 0.03 0.97 0.29 0.10 0.07 0.08 - 0.01 0.28 0.05 0.14 0.12 0.14 + 0.02 0.30 0.11 0.18 0.16 0.17 - 0.02 0.38 0.15 0.01 0.00 0.01 - 0.00 0.02 0.00 0.09 0.08 0.08 - 0.01 0.50 0.08 0.08 0.08 0.08 unch 0.00 0.37 0.06 0.15 0.00 0.15 + 0.08 0.43 0.05 0.05 0.05 0.05 unch 0.00 0.15 0.02 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.16 0.13 0.16 - 0.01 0.24 0.13 0.05 0.00 0.04 - 0.01 0.09 0.04 0.03 0.03 0.03 + 0.00 0.07 0.02 0.09 0.09 0.09 + 0.01 0.14 0.06 0.39 0.00 0.39 - 0.01 2.12 0.05 0.96 0.87 0.92 - 0.01 1.15 0.45 0.28 0.28 0.28 unch 0.00 0.28 0.14 0.34 0.00 0.34 - 0.02 0.38 0.15 1.61 1.54 1.58 - 0.05 2.39 1.38 0.07 0.05 0.06 - 0.01 0.21 0.05 0.05 0.04 0.04 - 0.01 0.16 0.04 0.15 0.00 0.14 + 0.01 0.55 0.12 0.60 0.56 0.58 + 0.01 0.82 0.46 0.45 0.42 0.45 + 0.00 1.03 0.35 0.71 0.00 0.67 + 0.02 1.05 0.51 6.79 6.47 6.56 + 0.06 6.79 4.33 5.50 5.26 5.49 + 0.30 6.04 3.60 7.25 6.92 7.21 + 0.30 7.96 4.70 0.05 0.04 0.05 - 0.01 0.15 0.04 0.07 0.00 0.06 - 0.01 0.21 0.05 0.12 0.10 0.11 + 0.02 0.27 0.05 0.16 0.14 0.15 + 0.01 0.35 0.07 1.89 1.79 1.80 - 0.02 2.29 1.05 1.91 1.75 1.84 + 0.04 2.33 1.05

M M.P.V. Explor 96 0.15 0.13 0.15 + 0.01 0.19 0.06 M2 Cobalt* O 1 0.14 0.14 0.14 unch 0.00 0.75 0.12 Macarthur Min V 1682 0.10 0.08 0.09 - 0.01 0.17 0.02 Macarthur Min* O 372 0.07 0.06 0.07 - 0.00 0.31 0.01 O 9 0.05 0.04 0.04 - 0.01 0.05 0.02 MacDonald Mns* MacDonald Mns V 994 0.06 0.05 0.06 - 0.01 0.07 0.03 MAG Silver T 1150 15.46 13.64 13.82 - 1.32 15.74 8.10 Magellan Gold* O 3 2.06 1.80 1.90 + 0.10 3.80 0.80 Magna Gold V 92 0.28 0.25 0.28 + 0.03 0.45 0.20 Magna Terra V 470 0.03 0.02 0.03 unch 0.00 0.06 0.02 Magnitude Mng V 10 0.16 0.16 0.16 unch 0.00 0.25 0.14 Majestic Gold V 48 0.07 0.00 0.07 + 0.01 0.11 0.05 Majestic Gold* O 50 0.05 0.04 0.05 unch 0.00 0.08 0.04 Makena Res* O 59 0.93 0.87 0.87 unch 0.00 2.18 0.85 0.01 Mako Mining* O 270 0.09 0.08 0.09 + 0.01 0.16 Mako Mining V 6247 0.14 0.11 0.12 + 0.02 0.22 0.09 Mammoth Res V 123 0.03 0.03 0.03 + 0.01 0.09 0.03 Mandalay Res T 3447 0.15 0.13 0.13 - 0.01 0.24 0.05 Mandalay Res* O 457 0.12 0.10 0.10 unch 0.00 0.18 0.03 0.08 Manganese X V 226 0.13 0.12 0.12 - 0.01 0.20 Mangazeya Mng V 106 0.04 0.04 0.04 - 0.01 0.05 0.02 Mangazeya Mng* O 3 0.02 0.02 0.02 unch 0.00 0.04 0.01 Manitou Gold V 436 0.06 0.05 0.05 - 0.01 0.11 0.03 Maple Gold V 1678 0.10 0.09 0.10 + 0.01 0.16 0.08 Maple Gold* O 489 0.08 0.07 0.07 - 0.00 0.12 0.05 O 256 0.94 0.82 0.88 + 0.05 0.94 0.49 Marathon Gold* Marathon Gold T 1154 1.23 1.10 1.15 + 0.05 1.23 0.65 Margaret Lake V 61 0.05 0.05 0.05 + 0.01 0.11 0.02 Margaux Res V 96 0.09 0.05 0.09 + 0.01 0.22 0.03 Marifil Mines V 6227 0.17 0.10 0.14 + 0.04 0.18 0.05 Marifil Mines* O 4248 0.13 0.08 0.11 + 0.04 0.14 0.04 Mariner Res 40 0.19 0.19 0.19 unch 0.00 0.20 0.19 0.07 Maritime Res V 300 0.11 0.09 0.10 + 0.01 0.13 Martina Mnls V 0 0.00 0.00 0.12 unch 0.00 0.12 0.04 MartinMarietta* N 2534 230.83 222.72 230.11 + 5.18 232.44 150.75 0.04 Mas Gold V 97 0.09 0.09 0.09 - 0.01 0.16 Mason Graphite* O 66 0.28 0.25 0.26 - 0.01 1.09 0.18 Mason Graphite V 265 0.35 0.33 0.34 + 0.01 1.45 0.25 Matachewan Con V 23 0.15 0.15 0.15 unch 0.00 0.25 0.12 Matica Ent 2434 0.09 0.07 0.09 + 0.01 0.32 0.07 T 251 6.20 5.50 5.77 + 0.27 6.20 3.26 Maverix Metals Maverix Metals* X 8 4.50 4.23 4.42 + 0.02 4.74 1.25 Mawson Res* O 34 0.14 0.12 0.14 + 0.02 0.27 0.12 0.17 Mawson Res T 178 0.19 0.17 0.17 - 0.02 0.39 MAX Res V 5177 0.15 0.10 0.14 + 0.03 0.50 0.09 MaxTech Vent 17 0.03 0.03 0.03 unch 0.00 0.31 0.03 O 18 0.03 0.02 0.03 + 0.00 0.25 0.02 MaxTech Vent* Maxwell Res* O 68 0.02 0.01 0.01 + 0.00 0.02 0.00 1.50 1.49 1.49 unch 0.00 2.28 1.20 Maya Gold &Sil* O 147 Maya Gold &Sil T 105 2.00 1.90 1.90 - 0.10 3.00 1.58 Mazarin V 190 0.07 0.00 0.06 - 0.01 0.18 0.06 MBMI Res* O 92 0.01 0.01 0.01 unch 0.00 1.00 0.01 MBMI Res V 13 0.02 0.02 0.02 unch 0.00 0.07 0.02 McChip Res V 8 0.70 0.70 0.70 unch 0.00 0.93 0.58 McEwen Mng T 1603 2.44 2.22 2.30 - 0.04 3.28 1.67 McEwen Mng* N 14969 1.85 1.69 1.75 - 0.04 2.52 1.23 McLaren Res 334 0.03 0.03 0.03 unch 0.00 0.08 0.01 MDN Inc* O 2 0.15 0.11 0.14 + 0.02 0.23 0.11 Meadow Bay Gd 313 0.04 0.03 0.04 unch 0.00 0.09 0.03 Meadow Bay Gd* O 75 0.03 0.03 0.03 unch 0.00 0.06 0.02 Mechel* N 152 2.21 2.06 2.09 - 0.14 3.45 1.81 Medallion Res V 150 0.24 0.21 0.21 - 0.01 0.28 0.08 Medallion Res* O 387 0.18 0.15 0.16 - 0.01 0.21 0.06 Medgold Res* O 5 0.08 0.00 0.08 unch 0.00 0.38 0.07 Medgold Res V 113 0.11 0.10 0.10 unch 0.00 0.50 0.09 Medinah Mnrls* O 3286 0.00 0.00 0.00 + 0.00 0.01 0.00 Mega Copper V 4 0.16 0.16 0.16 unch 0.00 0.18 0.16 Mega Uranium T 273 0.10 0.09 0.10 unch 0.00 0.16 0.09 Mega Uranium* O 66 0.08 0.07 0.08 - 0.00 0.13 0.06 Megastar Dev V 318 0.11 0.10 0.11 + 0.01 0.11 0.04 MegumaGold* O 51 0.10 0.09 0.09 unch 0.00 0.17 0.07 MegumaGold 559 0.12 0.09 0.09 - 0.03 0.26 0.08 Melior Res V 38 0.34 0.29 0.34 + 0.06 1.08 0.21 Melkior Res V 646 0.04 0.03 0.04 unch 0.00 0.13 0.03 Meridian Mg V 12 0.10 0.00 0.10 - 0.03 0.19 0.05 Meridius Res V 198 0.14 0.12 0.14 unch 0.00 0.22 0.09 Meryllion Res 5 0.01 0.01 0.01 unch 0.00 0.04 0.01 MetalCorp V 25 0.01 0.01 0.01 unch 0.00 0.02 0.01 Metalex Vent V 100 0.04 0.04 0.04 - 0.01 0.06 0.02 Metalla Rylty* O 1030 0.86 0.75 0.80 - 0.00 1.08 0.48 Metalla Rylty V 1419 1.12 0.98 1.04 - 0.01 1.43 0.63 Metallic Mnrls V 201 0.17 0.15 0.15 - 0.02 0.30 0.11 Metallic Mnrls* O 71 0.13 0.12 0.12 - 0.02 0.24 0.08 Metallica Min* O 23 0.01 0.01 0.01 unch 0.00 0.03 0.01 Metallis Res V 101 0.62 0.52 0.55 - 0.04 1.42 0.39 Metalo Manuf 61 0.29 0.27 0.27 - 0.02 0.45 0.10 Metalore Res V 5 0.95 0.90 0.90 unch 0.00 2.85 0.90 Metalore Res* O 1 0.71 0.71 0.71 unch 0.00 2.19 0.71 Metals Creek* O 260 0.04 0.04 0.04 unch 0.00 0.08 0.02

2019-07-02 8:12 PM

22

WWW.NORTHERNMINER.COM

JULY 8–21, 2019 / THE NORTHERN MINER

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

Week

12-month

Exc Volume High Low Last Change High Low

Metals Creek V 578 Metals X* O 23 Metron Capital V 30 O 35 Mexican Gold* Mexus Gold* O 8415 O 302 MGX Minerals* MGX Minerals 523 Midas Gold T 637 Midas Gold* O 984 Midland Expl V 60 Midnight Star 162 Midnight Sun V 110 Millennial Lit* O 84 Millennial Lit V 97 Millrock Res* O 234 Millrock Res V 472 Milner Con Slv V 397 Minaurum Gold V 869 O 351 Minaurum Gold* Minco Silver* O 99 Minco Silver T 142 Minera Alamos * O 2575 Minera Alamos V 5519 Minera IRL 95 Mineral Mtn V 287 Mineral Mtn* O 373 MineralRite* O 12810 Mineworx Tech V 669 Mineworx Tech* O 96 Minfocus Expl V 579 Minfocus Expl* O 275 Mining Global* O 2700 Minnova Corp V 36 Minsud Res V 6 Miramont Res* O 420 Miramont Res 665 Mirasol Res V 249 Mistango River 202 Mkango Res V 88 ML Gold* O 8 ML Gold Corp V 48 Monarca Mnrls* O 150 Monarca Mnrls V 63 Monarch Gold T 610 Monarch Gold* O 154 Moneta Porcpn* O 52 Moneta Porcpn T 540 Monitor Vent* O 1 Monitor Vent V 1 Monster Uran V 44 Monterey Min 133 Montero Mg&Ex V 23 Monument Mng V 355 Morien Res* O 12 Morien Res V 12 Mosaic* N 33840 Mountain Boy V 20 Mountain Boy* O 90 Mountain Prov T 376 Mountain Prov* D 192 Mundoro Cap* O 333 Mundoro Cap V 104 Murchison Min V 25 MX Gold* O 158

0.04 0.04 0.04 unch 0.00 0.11 0.03 0.18 0.16 0.17 + 0.01 0.56 0.15 0.05 0.05 0.05 unch 0.00 0.07 0.05 0.11 0.08 0.08 - 0.02 0.25 0.06 0.01 0.01 0.01 + 0.00 0.02 0.00 0.19 0.17 0.19 + 0.00 0.87 0.16 0.25 0.22 0.25 + 0.01 1.07 0.22 0.64 0.61 0.63 + 0.01 1.10 0.56 0.50 0.46 0.48 + 0.01 0.87 0.41 1.04 0.91 1.00 - 0.01 1.46 0.66 0.16 0.15 0.15 unch 0.00 0.40 0.11 0.14 0.13 0.13 unch 0.00 0.28 0.10 1.25 1.15 1.21 + 0.03 1.92 0.67 1.62 1.53 1.58 + 0.01 2.53 1.04 0.10 0.07 0.08 - 0.01 0.23 0.05 0.12 0.10 0.10 - 0.02 0.30 0.07 0.07 0.02 0.07 + 0.05 0.11 0.02 0.55 0.44 0.49 + 0.02 0.65 0.32 0.43 0.33 0.38 + 0.03 0.50 0.23 0.47 0.43 0.47 + 0.03 0.51 0.24 0.64 0.55 0.63 + 0.03 0.69 0.35 0.10 0.09 0.10 + 0.00 0.12 0.06 0.13 0.12 0.13 unch 0.00 0.15 0.09 0.11 0.09 0.09 unch 0.00 0.11 0.05 0.12 0.12 0.12 - 0.01 0.30 0.07 0.10 0.09 0.10 - 0.00 0.24 0.05 0.00 0.00 0.00 - 0.00 0.00 0.00 0.11 0.10 0.10 - 0.01 0.23 0.09 0.09 0.08 0.08 - 0.00 0.17 0.07 0.04 0.04 0.04 - 0.01 0.14 0.03 0.04 0.02 0.03 + 0.01 0.07 0.02 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.12 0.10 0.11 + 0.01 0.82 0.09 0.08 0.00 0.08 unch 0.00 0.09 0.01 0.11 0.10 0.11 + 0.00 0.48 0.09 0.16 0.14 0.16 + 0.02 0.63 0.12 0.74 0.64 0.74 + 0.10 1.91 0.53 0.03 0.00 0.03 + 0.01 0.05 0.01 0.15 0.14 0.15 + 0.01 0.19 0.10 0.36 0.00 0.36 - 0.17 0.54 0.01 0.53 0.48 0.53 unch 0.00 1.35 0.12 0.05 0.05 0.05 unch 0.00 0.06 0.01 0.06 0.00 0.06 - 0.01 0.08 0.02 0.27 0.22 0.25 + 0.02 0.33 0.15 0.21 0.17 0.18 + 0.00 0.24 0.11 0.09 0.08 0.09 - 0.00 0.12 0.06 0.12 0.11 0.12 + 0.01 0.16 0.07 0.14 0.00 0.14 unch 0.00 0.80 0.12 0.00 0.00 0.19 unch 0.00 0.98 0.16 0.11 0.08 0.08 - 0.03 0.32 0.08 0.06 0.05 0.05 - 0.01 0.16 0.04 0.07 0.05 0.07 + 0.02 0.25 0.05 0.05 0.05 0.05 unch 0.00 0.08 0.04 0.36 0.35 0.36 + 0.02 0.47 0.30 0.48 0.47 0.48 - 0.01 0.61 0.42 25.06 23.23 25.03 + 1.61 37.37 20.81 0.20 0.18 0.18 - 0.02 0.43 0.15 0.15 0.13 0.13 - 0.02 0.19 0.04 1.49 1.26 1.29 - 0.13 3.30 1.08 1.13 0.97 1.03 - 0.12 2.55 0.80 0.10 0.08 0.09 + 0.00 0.19 0.08 0.12 0.12 0.12 + 0.01 0.25 0.10 0.08 0.08 0.08 unch 0.00 0.18 0.06 0.00 0.00 0.00 - 0.00 0.04 0.00

NA Frac Sand* O 281 NACCO Ind* N 68 Namibia Crit V 160 Namibia Crit* O 165 Napier Vent V 20 Napier Vent* O 11 Natural Res Pt* N 108 Nautilus Mnrls* O 86 Nemaska Lith T 1573 Nemaska Lith* O 188 Neo Lithium V 293 Neometals* O 12 Network Expl* O 37 Network Expl V 203 Nevada Copper T 745 Nevada Energy* O 42 Nevada Energy V 4 Nevada Expl * O 443 Nevada Expl V 259 Nevada Sunrise* O 138 Nevada Sunrise V 303 Nevada Zinc V 1211 Nevado Res V 216 New Age Metals* O 27 New Age Metals V 1329 New Carolin Gd* O 18 New Carolin Gd V 411 New Destiny Mg V 118 New Dimen Res V 117 New Dimen Res* O 36 New Energy Met V 260 New Energy Met* O 63 New Gold* X 31444 New Gold T 9333 New Guinea Gld* O 75 New Jersey Mng 55 New Jersey Mng* O 148 New Milln Iron* O 5 New Milln Iron T 311 New Nadina V 34 New Nadina* O 1 New Oroperu V 34 New Pac Metals V 98 New Pac Metals* O 48 New Tech Min* O 25 New Tech Min 75 Newlox Gold 438 Newmont Gdcorp* N 29.06 Newmont Gdcorp T 40.01 Newport Expl V 121 NewRange Gold* O 2253 NewRange Gold V 2539 Nexa Resources T 2 Nexa Resources* N 329 Nexco Res 50 Nexgen Energy* X 1031 Nexgen Energy T 879 NextSource Mat T 644 Nexus Gold V 4584 Nexus Gold* O 224 NGEx Res T 209 NGEx Res* O 63 Nickel Creek* O 269 Nickel Creek T 283 Nickel North V 959 Nicola Mg Inc V 834 Nicola Mg Inc* O 3 Nighthawk Gold* O 322 Nighthawk Gold T 832 Niobay Metals V 52 Niocan Inc V 13 Niocorp Dev T 317 Niocorp Dev* O 213 Nippon Dragon V 90 Nippon Dragon* O 61 Nitinat Mnls V 979 Noble Metal V 89 Noble Mineral* O 96 Noble Mineral V 248 Noka Res* O 317 Noram Vent V 149 Noranda Alum* O 79 Nordic Gold* O 100 Nordic Gold V 593 Noront Res V 451 Norra Metals V 170 Norsemont Cap 115 Nortec Mnls V 160 North Am Nickl V 232 North Am Nickl* O 879 North Am Pall T 838 North Am Pall* O 128 North Arrow Mn V 146 North Arrow Mn* O 115 North Bay Res * O 290951 Northcliff Res T 263 Northern Light 239 Northisle C&G V 37 Norvista Cap V 460

0.02 0.02 0.02 + 0.00 0.03 0.00 51.94 48.86 51.94 + 1.21 52.57 28.77 0.15 0.00 0.14 - 0.02 0.35 0.08 0.12 0.09 0.11 - 0.02 0.26 0.06 0.30 0.26 0.26 - 0.05 0.43 0.17 0.23 0.22 0.22 - 0.01 0.34 0.13 36.10 33.97 35.46 + 1.31 44.71 28.40 0.02 0.01 0.02 - 0.00 0.15 0.00 0.27 0.25 0.26 - 0.01 0.94 0.25 0.21 0.19 0.19 + 0.00 0.72 0.19 0.69 0.63 0.66 unch 0.00 1.40 0.55 0.20 0.16 0.16 - 0.04 0.39 0.10 0.38 0.34 0.38 + 0.01 0.45 0.19 0.52 0.45 0.50 - 0.01 0.54 0.23 0.37 0.33 0.33 - 0.02 0.68 0.30 0.10 0.08 0.08 - 0.00 0.15 0.08 0.12 0.00 0.12 + 0.01 0.23 0.10 0.25 0.19 0.21 - 0.02 0.39 0.09 0.33 0.25 0.28 - 0.03 0.50 0.12 0.04 0.03 0.04 + 0.00 0.12 0.03 0.05 0.05 0.05 unch 0.00 0.15 0.05 0.12 0.07 0.08 + 0.01 0.17 0.05 0.12 0.11 0.11 unch 0.00 0.70 0.09 0.06 0.05 0.05 + 0.01 0.08 0.03 0.07 0.06 0.06 - 0.01 0.10 0.05 0.07 0.06 0.07 + 0.01 0.27 0.05 0.10 0.09 0.09 unch 0.00 0.39 0.08 0.16 0.11 0.15 unch 0.00 0.25 0.11 0.06 0.00 0.06 unch 0.00 0.26 0.04 0.03 0.03 0.03 unch 0.00 0.18 0.02 0.31 0.25 0.30 + 0.05 1.28 0.14 0.26 0.21 0.21 - 0.01 0.26 0.12 0.98 0.76 0.96 + 0.20 2.18 0.61 1.28 1.02 1.27 + 0.26 2.86 0.82 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.17 0.17 0.17 unch 0.00 0.26 0.15 0.15 0.13 0.15 + 0.01 0.23 0.11 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.09 0.08 0.08 - 0.01 0.11 0.04 0.09 0.09 0.09 + 0.01 0.18 0.05 0.06 0.06 0.06 unch 0.00 0.13 0.03 0.35 0.29 0.35 + 0.03 0.40 0.22 2.55 2.40 2.40 - 0.06 2.55 1.18 1.94 1.82 1.84 - 0.03 1.94 0.86 0.02 0.01 0.01 - 0.00 0.05 0.01 0.03 0.03 0.03 + 0.01 0.07 0.02 0.05 0.04 0.04 + 0.01 0.06 0.03 53232 38.74 37.21 38.47 + 0.98 38.74

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+

0.89 51.00

0.33 0.29 0.32 - 0.01 0.36 0.22 0.15 0.11 0.13 + 0.03 0.21 0.04 0.19 0.14 0.16 + 0.03 0.25 0.07 13.89 13.14 13.14 - 0.71 18.50 11.00 10.65 9.57 9.59 - 0.97 14.33 8.22 0.07 0.07 0.07 unch 0.00 0.28 0.06 1.60 1.48 1.57 + 0.01 2.53 1.35 2.09 1.95 2.04 - 0.03 3.31 1.81 0.10 0.09 0.10 unch 0.00 0.16 0.05 0.12 0.09 0.09 unch 0.00 0.36 0.08 0.09 0.06 0.08 + 0.01 0.27 0.04 1.18 1.06 1.07 + 0.02 1.18 0.94 0.83 0.00 0.83 + 0.02 0.87 0.73 0.05 0.03 0.04 + 0.01 0.18 0.02 0.06 0.05 0.06 + 0.01 0.24 0.03 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.12 0.10 0.11 - 0.01 0.17 0.08 0.09 0.00 0.09 + 0.02 0.11 0.06 0.43 0.37 0.38 - 0.01 0.46 0.22 0.56 0.49 0.50 - 0.02 0.60 0.30 0.20 0.19 0.20 + 0.02 0.37 0.15 0.14 0.00 0.13 - 0.01 0.36 0.06 0.58 0.55 0.55 - 0.01 0.72 0.52 0.45 0.41 0.43 - 0.00 0.55 0.39 0.03 0.02 0.02 - 0.01 0.03 0.01 0.02 0.02 0.02 - 0.00 0.03 0.00 0.05 0.04 0.05 - 0.04 0.14 0.03 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.06 0.05 0.06 - 0.00 0.13 0.04 0.08 0.07 0.08 - 0.01 0.18 0.06 0.15 0.12 0.13 + 0.00 0.58 0.08 0.12 0.09 0.09 unch 0.00 0.32 0.08 0.01 0.00 0.01 + 0.00 0.05 0.01 0.03 0.03 0.03 + 0.00 0.12 0.02 0.04 0.03 0.04 - 0.01 0.17 0.03 0.24 0.23 0.24 - 0.01 0.38 0.21 0.05 0.05 0.05 unch 0.00 0.14 0.04 0.31 0.29 0.30 - 0.01 0.43 0.25 0.02 0.02 0.02 + 0.01 0.08 0.02 0.02 0.02 0.02 + 0.01 0.08 0.02 0.01 0.01 0.01 + 0.00 0.06 0.01 15.24 13.70 14.51 + 0.83 26.30 8.62 11.42 10.35 11.10 + 0.71 19.91 6.62 0.06 0.05 0.06 + 0.01 0.22 0.05 0.04 0.04 0.04 unch 0.00 0.16 0.04 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.07 0.06 0.07 + 0.01 0.11 0.05 0.03 0.02 0.03 + 0.01 0.15 0.02 0.07 0.06 0.07 unch 0.00 0.14 0.05 0.11 0.09 0.10 + 0.01 0.15 0.06

(100s) Stock

Week

(100s) Stock

12-month

Exc Volume High Low Last Change High Low

NorZinc T 282 NorZinc* O 115 Nouveau Monde V 361 Nouveau Monde* O 2 T 3002 NovaGold Res NovaGold Res* X 52185 Novo Res* O 526 Novo Res V 746 NRG Metals V 138 Nrthn Graphite V 75 Nrthn Graphite* O 123 Nrthn Lion V 9 44 Nrthn Mnrls &E* O Nrthn Shield V 763 Nrthn Superior* O 40 V 205 Nrthn Superior Nrthn Vertex* O 80 Nrthn Vertex V 473 NSGold V 21 NSS Res Inc 330 X 21475 Nthn Dynasty* Nthn Dynasty T 2622 Nthrn Sphere* O 164 Nubian Res V 160 Nuinsco Res 624 Nuinsco Res* O 750 NuLegacy Gold V 145 NuLegacy Gold* O 562 Nutrien* N 6722 Nutrien T 5890 NV Gold V 120 NV Gold* O 25 NX Uranium* O 26 NxGold Ltd* O 40 NxGold Ltd V 33 OceanaGold* O 2 OceanaGold T 11975 Oceanic Iron O V 1 Oceanus Res* O 43 Oceanus Res V 350 Odyssey Res V 55 Olivut Res V 107 Olivut Res* O 30 Omineca Mining V 78 Omineca Mining* O 9 One World Lith 282 One World Lith* O 293 O 1 Opawica Expl* Opawica Expl V 50 Opus One Res V 278 Orbite Tech* O 420 Orca Gold V 406 Orca Gold* O 81 Orefinders Res V 513 Orestone Mng V 189 Orex Mnrls* O 133 Orex Mnrls V 681 Orezone Gold V 2236 Orezone Gold* O 203 Orford Mining V 37 OrganiMax* O 2 OrganiMax V 72 Origin Gold V 0 Original Sixtn* O 2 Orla Mng Ltd T 409 15 Orla Mng Ltd* O Oro East Mg* O 335 Oroco Res V 362 Oroco Res* O 182 Orocobre T 156 V 334 Oronova Energy Orosur Mng T 772 Orsu Metals V 161 Orsu Metals* O 1 Orvana Mnrls T 482 Orvana Mnrls* O 51 Osino Res V 78 Osisko Gold* N 4448 Osisko Gold T 3868 Osisko Metals* O 43 Osisko Metals V 861 Osisko Mng Inc T 2649 Osprey Gold V 766 Otis Gold V 106 Otis Gold* O 319 Outcrop Gold V 433 Outcrop Gold* O 191 OZ Minerals* O 0

0.11 0.10 0.10 - 0.01 0.15 0.08 0.08 0.07 0.07 - 0.00 0.12 0.05 0.24 0.23 0.24 - 0.01 0.33 0.21 0.18 0.18 0.18 - 0.00 0.26 0.17 7.74 6.94 7.71 + 0.79 7.61 4.49 5.92 5.25 5.91 + 0.69 5.92 3.41 1.92 1.62 1.62 - 0.31 3.45 1.38 2.53 2.11 2.11 - 0.33 4.48 1.87 0.17 0.16 0.17 - 0.01 1.28 0.12 0.15 0.13 0.14 - 0.01 0.42 0.13 0.11 0.10 0.10 - 0.01 0.33 0.09 0.32 0.32 0.32 unch 0.00 0.46 0.15 0.10 0.05 0.10 + 0.03 0.12 0.02 0.09 0.08 0.09 + 0.01 0.12 0.02 0.10 0.10 0.10 unch 0.00 0.22 0.02 0.15 0.13 0.14 + 0.03 0.40 0.11 0.19 0.17 0.19 + 0.03 0.34 0.12 0.26 0.22 0.26 + 0.05 0.43 0.16 0.10 0.10 0.10 unch 0.00 0.15 0.07 0.09 0.07 0.08 + 0.01 0.45 0.03 0.65 0.45 0.60 + 0.15 1.12 0.41 0.84 0.60 0.79 + 0.19 1.47 0.56 0.01 0.00 0.00 + 0.00 0.07 0.00 0.08 0.08 0.08 unch 0.00 0.22 0.07 0.01 0.01 0.01 unch 0.00 0.08 0.01 0.01 0.01 0.01 unch 0.00 0.04 0.00 0.04 0.03 0.04 unch 0.00 0.22 0.03 0.03 0.02 0.02 - 0.00 0.17 0.02 55.34 53.14 53.46 - 1.30 58.99 43.96 73.00 69.53 70.05 - 2.27 76.17 59.97 0.17 0.14 0.14 - 0.04 0.26 0.07 0.14 0.10 0.11 - 0.02 0.19 0.05 0.30 0.15 0.30 + 0.08 1.00 0.01 0.05 0.04 0.04 + 0.00 0.17 0.04 0.07 0.07 0.07 unch 0.00 0.21 0.05 2.97 0.00 2.74 - 0.33 3.74 2.61 3.97 3.51 3.58 - 0.30 5.01 3.43 0.00 0.00 0.10 unch 0.00 0.15 0.04 0.06 0.05 0.05 - 0.01 0.14 0.04 0.07 0.06 0.07 - 0.01 0.18 0.05 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.10 0.10 0.10 + 0.01 0.16 0.07 0.07 0.06 0.06 - 0.01 0.12 0.05 0.07 0.00 0.07 + 0.01 0.09 0.02 0.05 0.00 0.05 + 0.01 0.07 0.01 0.24 0.20 0.22 unch 0.00 0.28 0.13 0.19 0.17 0.19 + 0.01 0.22 0.10 0.05 0.00 0.05 - 0.01 0.05 0.02 0.08 0.08 0.08 unch 0.00 0.13 0.05 0.06 0.05 0.05 unch 0.00 0.10 0.02 0.01 0.01 0.01 - 0.04 0.17 0.00 0.39 0.33 0.36 - 0.02 0.62 0.32 0.30 0.24 0.27 - 0.05 0.49 0.24 0.06 0.05 0.06 + 0.01 0.09 0.03 0.16 0.14 0.16 + 0.02 0.25 0.06 0.05 0.03 0.03 - 0.00 0.13 0.03 0.06 0.05 0.06 + 0.01 0.17 0.05 0.70 0.61 0.64 + 0.03 0.85 0.39 0.54 0.46 0.48 + 0.02 0.65 0.30 0.11 0.10 0.10 - 0.01 0.33 0.07 0.05 0.00 0.03 - 0.01 0.14 0.02 0.07 0.00 0.05 - 0.01 0.63 0.05 0.00 0.00 0.11 unch 0.00 0.14 0.07 0.00 0.00 0.00 unch 0.00 0.18 0.00 1.12 1.02 1.10 + 0.07 1.55 0.85 0.81 0.78 0.80 + 0.02 1.14 0.00 0.00 0.00 0.00 + 0.00 0.00 0.00 0.49 0.43 0.48 + 0.01 0.74 0.17 0.38 0.35 0.38 - 0.00 0.56 0.13 2.99 2.59 2.59 - 0.35 5.55 2.63 0.07 0.05 0.05 - 0.02 0.16 0.05 0.08 0.05 0.06 - 0.01 0.20 0.02 0.39 0.32 0.36 + 0.04 0.39 0.17 0.29 0.27 0.28 + 0.02 0.29 0.13 0.31 0.27 0.28 - 0.03 0.32 0.12 0.23 0.21 0.23 - 0.01 0.24 0.09 0.35 0.34 0.35 - 0.01 0.64 0.20 11.47 10.24 10.44 - 0.74 12.08 7.00 15.12 13.41 13.65 - 1.13 16.08 9.27 0.54 0.46 0.47 - 0.06 0.54 0.36 0.70 0.60 0.60 - 0.10 0.72 0.46 3.44 3.19 3.30 - 0.08 3.75 1.60 0.06 0.05 0.05 - 0.01 0.07 0.04 0.10 0.09 0.09 unch 0.00 0.25 0.07 0.08 0.06 0.07 - 0.00 0.21 0.05 0.29 0.26 0.29 unch 0.00 0.45 0.10 0.22 0.20 0.22 - 0.00 0.33 0.01 0.00 0.00 6.60 unch 0.00 7.89 5.90

Pac Bay Mnrls* O 2 Pac Bay Mnrls V 17 Pac Booker Min* O 47 Pac Booker Min V 68 Pac Imperial V 805 30 Pac Iron Ore V Pac Ridge Expl V 254 Pac Ridge Expl* O 1 Pacific Empire V 370 Pacific Rim 1146 Pacific Rim* O 69 Pacific Silk* O 3 Pacific Silk V 1 Pacton Gold V 2917 Paladin Energy* O 278 Palamina Corp V 151 O 28 Palamina Corp* Paleo Resource V 324 Paleo Resource* O 508 V 120 Palladium One Palladium One* O 30 Pan Am Silver* D 15301 Pan Am Silver T 2124 Pan Andean Min* O 2 Pan Global Res V 281 Pancontinental* O 15 Pancontinental V 252 Panex Res* O 56 Pangolin Dia V 166 Panoro Mnrls V 15 PanTerra Gold* O 0 V 131 Pantheon Vent Para Resources V 154 Parallel Mng V 2565 Paramount Gold* X 430 Paringa Res* O 40 Paringa Res* D 1 Parlane Res V 8228 Pasinex Res 5 Patriot Gold* O 84 Peabody Enrgy* N 5182 Pedro Res V 97 O 9 Pelangio Expl* Pelangio Expl V 660 Pele Mtn Res* O 11 Peloton Mnrls 105 Peloton Mnrls* O 1 PepinNini Lith* O 50 Perseus Mng T 850 Pershing Res* O 121 Peruvian Metal* O 1 Peruvian Metal V 223 Philex Mng* O 7 Philippine Mtl V 280 Pine Cliff En T 1360 Pinecrest Res V 177 Pistol Bay Mng* O 0 Pistol Bay Mng V 2287 Pivit Explor 250 PJSC Polyus Gd* O 2 PJX Res V 314 Plata Latina V 15 Plateau Energy* O 26 Plateau Energy V 127 Platinum Gp Mt* X 855 Platinum Gp Mt T 88 Plato Gold V 773 Playfair Mng V 273 PolyMet Mng* X 3517 PolyMet Mng T 296 Portage Res* O 514 Portofino Res V 424 Potash Ridge* O 487 Potash Ridge T 1148 Power Group V 49 Power Group* O 145 Power Metals* O 67

0.04 0.04 0.04 unch 0.00 0.05 0.01 0.07 0.06 0.06 - 0.01 0.20 0.06 1.70 1.40 1.61 - 0.61 3.10 0.50 2.49 1.80 2.00 - 0.50 4.10 0.65 0.02 0.01 0.02 unch 0.00 0.04 0.01 0.08 0.08 0.08 unch 0.00 0.10 0.06 0.06 0.05 0.05 - 0.01 0.07 0.04 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.07 0.07 0.07 unch 0.00 0.14 0.06 0.15 0.12 0.12 - 0.02 0.44 0.10 0.11 0.09 0.10 - 0.01 0.32 0.07 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.00 0.00 0.02 unch 0.00 0.05 0.02 0.20 0.16 0.18 + 0.02 0.74 0.11 0.10 0.09 0.09 - 0.01 0.35 0.08 0.32 0.00 0.32 + 0.08 0.41 0.21 0.25 0.21 0.25 + 0.05 0.31 0.16 0.07 0.04 0.05 - 0.01 0.10 0.03 0.05 0.03 0.04 - 0.01 0.08 0.02 0.09 0.08 0.09 + 0.01 0.15 0.03 0.07 0.07 0.07 unch 0.00 0.07 0.01 13.62 12.71 12.91 + 0.06 18.40 10.26 17.92 16.64 16.93 - 0.07 24.14 13.83 0.07 0.05 0.05 - 0.01 0.08 0.02 0.12 0.10 0.10 unch 0.00 0.28 0.07 0.03 0.03 0.03 unch 0.00 0.07 0.01 0.04 0.04 0.04 unch 0.00 0.09 0.02 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.05 0.04 0.04 - 0.01 0.07 0.03 0.15 0.14 0.15 + 0.01 0.31 0.13 0.01 0.00 0.01 + 0.00 0.02 0.00 0.05 0.04 0.04 - 0.01 0.12 0.04 0.19 0.14 0.19 + 0.05 0.22 0.12 0.02 0.02 0.02 unch 0.00 0.08 0.02 0.90 0.77 0.78 - 0.03 1.29 0.70 0.08 0.07 0.08 + 0.01 0.35 0.07 3.40 0.00 3.27 - 0.25 10.38 3.27 0.20 0.04 0.15 + 0.12 0.20 0.03 0.05 0.05 0.05 unch 0.00 0.14 0.04 0.06 0.04 0.06 + 0.01 0.15 0.05 24.35 22.78 24.10 + 0.29 46.27 21.42 0.22 0.17 0.17 unch 0.00 0.29 0.16 0.13 0.11 0.11 - 0.02 0.29 0.02 0.22 0.14 0.14 - 0.03 0.38 0.12 0.08 0.04 0.04 unch 0.00 0.12 0.02 0.10 0.08 0.09 - 0.01 0.12 0.03 0.07 0.07 0.07 - 0.00 0.09 0.05 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.58 0.51 0.52 - 0.03 0.58 0.25 0.01 0.01 0.01 + 0.00 0.05 0.00 0.03 0.02 0.02 - 0.00 0.07 0.02 0.05 0.00 0.04 unch 0.00 0.10 0.03 0.05 0.03 0.05 + 0.02 0.10 0.00 0.08 0.08 0.08 unch 0.00 0.14 0.04 0.18 0.16 0.17 - 0.01 0.45 0.16 0.17 0.16 0.17 - 0.01 0.28 0.16 0.00 0.00 0.04 unch 0.00 0.05 0.02 0.05 0.04 0.04 - 0.01 0.08 0.03 0.08 0.06 0.07 unch 0.00 0.19 0.06 47.99 0.00 47.98 + 3.85 48.00 31.05 0.20 0.17 0.20 + 0.03 0.36 0.15 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.49 0.44 0.46 - 0.01 1.27 0.34 0.65 0.59 0.60 - 0.02 1.69 0.46 1.32 1.14 1.31 + 0.16 2.17 0.91 1.75 1.51 1.72 + 0.22 2.91 1.20 0.03 0.02 0.03 unch 0.00 0.06 0.01 0.04 0.03 0.04 unch 0.00 0.09 0.02 0.44 0.39 0.43 + 0.04 1.25 0.36 0.56 0.51 0.55 + 0.03 1.60 0.49 0.00 0.00 0.00 - 0.00 0.02 0.00 0.04 0.03 0.04 unch 0.00 0.36 0.03 0.05 0.04 0.04 - 0.00 0.08 0.02 0.06 0.05 0.06 unch 0.00 0.11 0.03 0.11 0.00 0.11 - 0.01 1.00 0.07 0.09 0.08 0.08 - 0.01 0.18 0.01 0.07 0.05 0.06 + 0.00 0.30 0.05

P-Q

Week

12-month

Exc Volume High Low Last Change High Low

Power Metals V 1517 PowerOre V 159 PPX Mining* O 50 PPX Mining V 413 Precipitate Gl* O 177 Precipitate Gl V 1019 Premier Gold M T 3006 O 2 Premium Expl* Pretium Res* N 10378 Pretium Res T 3592 Primary Energy 105 V 68 Prime Meridian Prism Res V 26 Prize Mng* O 93 Prize Mng V 147 ProAm Expl V 301 O 433 Probe Metals* Probe Metals V 403 Prog Planet V 378 Prog Planet* O 18 Project One 25 0 Promithian Gl * O O 435 Prophecy Coal* Prophecy Coal T 564 Prosper Gold V 106 Prospero Silvr V 336 Prospero Silvr* O 88 Provenance Gld 32 Providence V 321 Providence Gld* O 199 PUF Vent Inc * O 4445 Puma Expl V 4144 Pure Alumina* O 2 Pure Energy* O 369 Pure Energy V 109 Pure Gold Mg* O 469 Pure Gold Mg V 1783 Pure Nickel* O 275 Pure Nickel V 555 Purepoint Uran V 1055 Q-Gold Res* O 1 Q-Gold Res V 88 QC Precious V 165 QC Precious * O 83 QMC Quantum Ml V 0.16 QMC Quantum Ml* O 0.12 QMX Gold* O 1064 QMX Gold V 3527 Quadro Res V 32 Quantum Cobalt 93 Quartz Mtn Res V 30 Quartz Mtn Res* O 0 Quaterra Res V 580 Quaterra Res* O 557 Quest Rare Mnl* O 11 Quinto Res V 701

0.09 0.08 0.09 + 0.01 0.39 0.07 0.11 0.09 0.09 - 0.02 0.16 0.05 0.05 0.05 0.05 - 0.00 0.08 0.03 0.07 0.06 0.07 unch 0.00 0.11 0.05 0.08 0.06 0.08 + 0.01 0.12 0.03 0.12 0.09 0.10 + 0.01 0.15 0.04 2.18 1.98 2.04 + 0.06 2.85 1.39 0.00 0.00 0.00 - 0.00 0.01 0.00 10.40 9.84 10.01 + 0.08 10.40 6.53 13.69 12.97 13.09 + 0.01 13.69 8.59 0.29 0.24 0.27 - 0.03 1.10 0.08 0.10 0.09 0.10 + 0.02 0.11 0.07 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.02 0.01 0.02 - 0.00 0.15 0.01 0.03 0.00 0.02 - 0.01 0.27 0.02 0.02 0.02 0.02 unch 0.00 0.04 0.02 1.02 0.94 0.98 + 0.04 1.12 0.68 1.32 1.20 1.29 + 0.07 1.49 0.91 0.04 0.04 0.04 + 0.01 0.10 0.03 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.25 0.25 0.25 + 0.01 0.30 0.20 0.00 0.00 0.05 unch 0.00 0.10 0.01 0.18 0.13 0.14 - 0.02 1.97 0.09 0.21 0.18 0.18 - 0.04 0.74 0.11 0.07 0.06 0.07 + 0.01 0.18 0.06 0.06 0.05 0.06 - 0.01 0.14 0.04 0.05 0.05 0.05 - 0.00 0.11 0.04 0.18 0.14 0.14 - 0.05 0.39 0.10 0.14 0.10 0.10 - 0.01 0.20 0.08 0.11 0.07 0.11 + 0.03 0.16 0.06 0.38 0.29 0.30 - 0.03 0.64 0.06 0.04 0.02 0.02 unch 0.00 0.07 0.02 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.07 0.05 0.06 - 0.01 0.17 0.03 0.09 0.00 0.09 unch 0.00 0.21 0.05 0.45 0.41 0.44 + 0.02 0.62 0.36 0.59 0.54 0.59 + 0.03 0.81 0.49 0.04 0.03 0.04 unch 0.00 0.04 0.00 0.05 0.04 0.05 + 0.01 0.05 0.01 0.08 0.07 0.08 + 0.01 0.11 0.06 0.16 0.16 0.16 unch 0.00 0.20 0.15 0.19 0.18 0.18 unch 0.00 0.30 0.12 0.40 0.35 0.36 - 0.04 0.45 0.22 0.30 0.27 0.29 - 0.01 0.33 0.16 157 0.19 0.16 0.17 - 0.02 0.45 261

0.15 0.12 0.13

-

0.01 0.32

0.06 0.04 0.05 + 0.01 0.08 0.03 0.08 0.06 0.08 + 0.03 0.12 0.04 0.03 0.00 0.03 unch 0.00 0.08 0.03 0.05 0.05 0.05 + 0.02 0.21 0.04 0.31 0.00 0.31 - 0.04 0.78 0.27 0.00 0.00 0.23 unch 0.00 0.69 0.22 0.08 0.00 0.06 - 0.02 0.13 0.05 0.06 0.04 0.05 - 0.01 0.10 0.04 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.08 0.05 0.08 + 0.03 0.10 0.02

R Rackla Mtls V 16 0.14 0.14 0.14 + 0.01 0.20 0.06 Rackla Mtls* O 3 0.10 0.10 0.10 - 0.00 0.12 0.05 Radisson Mng V 517 0.15 0.14 0.15 unch 0.00 0.15 0.09 Radius Gold V 499 0.27 0.23 0.23 unch 0.00 0.47 0.09 Rain City 40 0.08 0.08 0.08 unch 0.00 0.14 0.08 Rainforest Res* O 3 5.85 5.35 5.35 - 0.50 9.20 3.50 30 0.02 0.02 0.02 unch 0.00 0.04 0.02 Rainy Mtn Royl V Rambler Metals* O 736 0.02 0.01 0.01 unch 0.00 0.05 0.01 Rare Element* O 802 0.38 0.28 0.31 + 0.00 0.60 0.03 Rathdowney Res V 35 0.11 0.10 0.11 unch 0.00 0.15 0.03 Ravencrest Res 831 0.56 0.51 0.54 + 0.01 1.09 0.38 21 0.00 0.00 0.00 unch 0.00 0.15 0.00 Red Eagle Mng* O Red Moon Res V 10 0.06 0.06 0.06 unch 0.00 0.12 0.01 389 0.08 0.05 0.06 unch 0.00 0.33 0.05 Red Oak Mg V Red Pine Expl V 1070 0.05 0.04 0.05 unch 0.00 0.08 0.03 Redstar Gold V 894 0.03 0.02 0.03 unch 0.00 0.04 0.02 Redstar Gold* O 283 0.02 0.02 0.02 + 0.00 0.03 0.01 Regulus Res V 195 1.50 1.38 1.40 - 0.01 2.30 1.25 Remington Res V 8 0.17 0.17 0.17 unch 0.00 0.26 0.16 Renaissance Gd* O 208 0.22 0.18 0.19 + 0.01 0.22 0.11 Renaissance Gd V 424 0.30 0.23 0.24 - 0.01 0.30 0.15 Renforth Res 478 0.05 0.05 0.05 unch 0.00 0.05 0.02 Renforth Res* O 25 0.04 0.04 0.04 unch 0.00 0.04 0.04 Resolve Vent V 19 0.10 0.00 0.10 unch 0.00 0.13 0.07 Resource Cap* O 20 0.00 0.00 0.00 unch 0.00 0.03 0.00 Reunion Gold* O 81 0.15 0.13 0.14 - 0.01 0.17 0.10 Reunion Gold V 1643 0.20 0.18 0.20 + 0.01 0.23 0.12 Revelo Res V 116 0.02 0.02 0.02 unch 0.00 0.03 0.01 Revival Gold * O 212 0.48 0.37 0.46 + 0.07 0.73 0.32 Revival Gold V 549 0.64 0.50 0.59 + 0.09 0.97 0.44 Rhyolite Res V 510 0.16 0.15 0.15 - 0.01 0.26 0.15 V 28 0.03 0.02 0.03 + 0.01 0.06 0.02 Richmond Mnls Ridgestone M’g V 48 0.23 0.21 0.22 + 0.01 0.30 0.15 Rimrock Gold* O 53968 0.00 0.00 0.00 - 0.00 0.00 0.00 Rio Silver V 156 0.04 0.04 0.04 unch 0.00 0.06 0.03 Rio Tinto* O 3 60.45 58.75 60.45 + 1.70 61.70 43.47 44.62 Rio Tinto* N 10650 62.72 60.57 62.34 + 2.07 63.27 Rio Tinto* O 1 71.00 0.00 70.99 + 2.84 71.38 50.48 Rio2 Limited* O 498 0.34 0.31 0.31 + 0.00 0.71 0.24 Rio2 Limited V 1384 0.44 0.40 0.41 + 0.01 1.15 0.31 Rise Gold Corp 859 0.08 0.06 0.06 - 0.01 0.12 0.05 Rise Gold Corp* O 270 0.06 0.05 0.05 - 0.00 0.10 0.04 Riverside Res V 301 0.15 0.14 0.14 unch 0.00 0.32 0.13 Riverside Res* O 252 0.12 0.10 0.12 + 0.00 0.26 0.10 Rizal Res V 365 0.02 0.01 0.01 - 0.01 0.05 0.01 RJK Explor V 144 0.11 0.10 0.11 - 0.01 0.23 0.04 Robex Res V 105 0.08 0.07 0.08 unch 0.00 0.12 0.07 Rochester Res V 5 0.03 0.03 0.03 unch 0.00 0.06 0.03 176 0.79 0.64 0.64 - 0.11 1.35 0.54 Rock Tech Lith V Rock Tech Lith* O 3 0.59 0.48 0.48 - 0.11 0.91 0.44 Rockcliff Met* O 4 0.07 0.06 0.06 unch 0.00 0.14 0.02 Rockcliff Met 1354 0.12 0.08 0.12 + 0.03 0.19 0.08 Rockex Mng 67 0.04 0.04 0.04 + 0.02 0.10 0.01 Rockhaven Res V 78 0.15 0.13 0.14 unch 0.00 0.19 0.09 Rockridge Res V 270 0.21 0.20 0.20 unch 0.00 0.39 0.19 Rockshield Cap* O 42 0.06 0.04 0.06 + 0.00 0.17 0.04 V 147 0.18 0.14 0.18 + 0.04 0.20 0.11 Rockwealth Res Rodinia Lithm V 3 0.00 0.00 0.05 unch 0.00 0.23 0.04 Rogue Res V 31 0.07 0.07 0.07 + 0.01 0.26 0.06 Rokmaster Res V 203 0.04 0.04 0.04 - 0.01 0.13 0.03 Romios Gold Rs* O 542 0.04 0.02 0.04 + 0.01 0.07 0.02 Romios Gold Rs V 268 0.05 0.00 0.05 + 0.01 0.09 0.04 RosCan Gold* O 2288 0.18 0.12 0.13 - 0.01 0.23 0.09 RosCan Gold V 10234 0.24 0.15 0.16 - 0.04 0.33 0.05 3 0.00 0.00 0.00 unch 0.00 0.05 0.00 Rosita Mg Corp* O Rotation Mnls V 189 0.19 0.19 0.19 unch 0.00 0.25 0.07 Roughrider Exp V 125 0.07 0.06 0.06 + 0.01 0.15 0.06 Rover Metals* O 40 0.05 0.05 0.05 unch 0.00 2.01 0.04 Roxgold T 3711 1.11 1.00 1.08 unch 0.00 1.15 0.72 Roxgold* O 219 0.83 0.78 0.80 - 0.03 0.97 0.55 Royal Gold* D 2546 102.62 99.18 102.49 + 3.38 102.62 70.16 Royal Mines &M* O 115 0.00 0.00 0.00 + 0.00 0.01 0.00 Royal Nickel* O 2221 0.55 0.46 0.48 - 0.02 0.90 0.05 Royal Nickel T 19795 0.73 0.60 0.62 - 0.09 1.18 0.07 Royal Rd Mnrls V 144 0.17 0.16 0.16 + 0.01 0.21 0.06 Royal Std Mnrl* O 0 0.00 0.00 0.01 unch 0.00 3.14 0.01 RT Minerals V 184 0.06 0.05 0.05 - 0.01 0.10 0.05 RTG Mining * O 3 0.05 0.05 0.05 unch 0.00 0.11 0.05 RTG Mining T 34 0.08 0.07 0.08 unch 0.00 0.16 0.08 O 606 0.62 0.46 0.50 - 0.14 1.26 0.47 Rubicon Mnrls* Rubicon Mnrls T 790 0.83 0.62 0.66 - 0.18 1.73 0.63 Rugby Mng V 101 0.17 0.15 0.15 - 0.02 0.32 0.13 Running Fox Rs* O 30 0.01 0.01 0.01 unch 0.00 0.02 0.01 Running Fox Rs V 33 0.02 0.02 0.02 unch 0.00 0.03 0.01 Rupert Res V 190 0.93 0.84 0.92 + 0.08 1.12 0.75 Rusoro Mng* O 132 0.06 0.00 0.06 + 0.01 0.32 0.04 Rusoro Mng V 672 0.08 0.07 0.07 unch 0.00 0.42 0.06

S Sabina Gd&Slvr T 1114 Sabina Gd&Slvr* O 489 Sable Res* O 30 Sable Res V 490 Sage Gold* O 2 Sailfish Rylty V 216 Saint Jean* O 11 Saint Jean V 1312 Salazar Res* O 1 Salazar Res V 256 Salt Lake Pot* O 124 Sama Res V 150 Sama Res* O 187 Samco Gold V 50 Samex Mng* O 65 San Gold Corp* O 43 San Marco Res* O 16 San Marco Res V 430 Sanatana Res V 388 Sanatana Res* O 180 Sandfire Res V 317 Sandfire Res* O 715 Sandspring Res V 585 Sandspring Res* O 317

1.42 1.32 1.33 + 0.06 1.67 0.99 1.10 0.99 1.02 + 0.03 1.28 0.73 0.09 0.09 0.09 + 0.01 0.28 0.07 0.13 0.12 0.12 unch 0.00 0.37 0.09 0.00 0.00 0.00 unch 0.00 0.02 0.00 1.41 1.24 1.41 + 0.13 1.68 0.70 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.04 0.03 0.03 + 0.01 0.06 0.02 0.12 0.12 0.12 unch 0.00 0.15 0.07 0.19 0.00 0.19 - 0.01 0.20 0.10 0.55 0.53 0.53 - 0.04 0.56 0.31 0.28 0.25 0.28 + 0.03 0.44 0.22 0.22 0.21 0.21 + 0.00 0.33 0.17 0.06 0.00 0.06 + 0.02 0.08 0.02 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.03 0.02 0.03 unch 0.00 0.16 0.02 0.05 0.04 0.04 - 0.01 0.23 0.04 0.05 0.04 0.04 unch 0.00 0.06 0.02 0.03 0.03 0.03 unch 0.00 0.05 0.01 0.22 0.10 0.18 + 0.06 0.22 0.06 0.25 0.07 0.14 + 0.04 0.25 0.05 0.21 0.18 0.20 unch 0.00 0.35 0.15 0.16 0.14 0.15 + 0.00 0.28 0.11

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

T 2416 Sandstorm Gold X 8751 Sandstorm Gold* 82 Santa Fe Gold* O V 278 Santacruz Silv Sarama Res V 313 11088 Sarissa Res* O Satori Res V 53 Satori Res* O 0 Saturn Mnrls V 158 Saville Res V 1734 140 Scandium Intl T O 64 Scandium Intl* Scorpio Gold V 309 78 Scorpio Gold * O Scotch Creek 21 ScoZinc Mg* O 0 ScoZinc Mg V 3 Seabridge Gld T 369 Seabridge Gld* N 2835 Search Mnls V 1027 Search Mnls* O 150 Searchlight* O 75 O 91 SearchlightMin* V 132 SearchlightRes Secova Mtls V 631 Sego Res V 326 Select Sands V 646 T 7899 Semafo O 0 Sennen Potash* Serabi Gold T 26 Serengeti Res V 333 Shamrock Ent 250 Sherritt Intl T 2072 V 46 Shoshoni Gold 20557 N Sibanye-Stillw* O 21 Sibanye-Stillw* O 100 Sidney Resrces* Sienna Res V 322 Sienna Res* O 35 Sierra Madre V 3 Sierra Madre* O 3 Sierra Metals T 84 Sierra Metals* X 103 V 60 Sigma Lithium O 34 Signature Res* Signature Res V 435 278 Silver Bear Rs T 82 Silver Bear Rs* O Silver Bull Re* O 952 789 Silver Bull Re T Silver Grail V 72 Silver Hill* O 2 29 Silver Mtn Mns V O 70 Silver Predatr* Silver Predatr V 101 Silver Range* O 9 Silver Range V 49 Silver Scott* O 133 O 17 Silver Spruce* Silver Spruce V 1479 Silver Viper* O 9 Silver Viper V 199 T 1267 Silvercorp Met X 1973 Silvercorp Met* SilverCrest* X 501 SilverCrest V 907 O 109 Silverstar Res* Sirios Res V 488 Sirios Res* O 75 Sitka Gold 57 Sixty North 751 Skeena Res* O 240 Skeena Res V 1414 Sky Gold V 1386 Sky Gold* O 73 O 219 Skyharbour Res* V 309 Skyharbour Res Slam Explor V 26 250 Slave Lake Zn O 80 Sokoman Min* Sokoman Min V 811 SolGold plc T 179 SolGold plc* O 314 T 31 Solitario Ex&R X 255 Solitario Ex&R* Solstice Gold V 144 17 Sonora Gld & S V Sonoro Mtls* O 170 Sonoro Mtls V 486 South32* O 3 Southern Arc* O 10 Southern Arc V 10 N 3593 Southern Copp* O 76 Southern Silvr* Southern Silvr V 496 T 35 SouthGobi Res 941 Spanish Mtn Gd V Spanish Mtn Gd* O 152 Sparton Res V 570 Sparton Res* O 66 Spearmint Res 1384 O 35 Spearmint Res* Spey Resources 45 Sphinx Res V 557 119 Sprott Res Hld T 129 Spruce Ridge R V SRG Graphite V 151 SSR Mining* D 7027 SSR Mining T 1772 St Augustine T 1740 St-Georges Eco 1122 O 10 St-Georges Eco* V 36 Stakeholdr Gld O 40 Stakeholdr Gld* O 1411 Standard Graph* Standard Lith V 556 O 150 Standard Metal* Stans Energy V 557 O 250 Stans Energy* O 122 Star Diamond* Star Diamond T 693 Star Gold* O 45 O 0 Star Mountain* Starcore Intl T 86 631 Starr Peak Exp V O 0 Steele Oceanic* Stellar Africa V 100 Stelmine Can V 15 Steppe Gold T 442 O 159 Stornoway Diam* T 4369 Stornoway Diam Stratabd Mnr V 19 Strateco Res* O 314 O 119 Strategic Metl* Strategic Metl V 188 Strategic Res V 171 O 0 Strategic Res* Stria Lithium V 69 V 946 Strikepoint Gd O 655 Strikepoint Gd* V 253 Strongbow Expl O 7 Strongbow Expl* Stroud Res V 226 Stuhini Explor V 137 Sulliden Mng T 323 Sun Metals V 1086 Suncor Energy T 19241 N 16077 Suncor Energy* Superior Gold V 724 O 732 Superior Gold* Superior Mng V 85 O 1 Supreme Metal* Supreme Metals 1055 0 Surge Copper * O Surge Copper V 84 Surge Explor* O 28 Surge Explor V 99 Syrah Res* O 133

4.60 7.78 7.21 7.27 - 0.24 7.84 3.48 5.92 5.51 5.54 - 0.13 5.92 0.10 0.08 0.09 - 0.01 0.14 0.04 0.05 0.10 0.08 0.08 - 0.01 0.12 0.05 0.10 0.09 0.09 - 0.01 0.12 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.04 0.07 0.06 0.06 - 0.01 0.10 0.03 unch 0.00 0.07 0.04 0.04 0.04 0.09 0.13 0.12 0.13 + 0.01 0.30 0.03 0.05 0.04 0.05 + 0.01 0.07 0.14 0.13 0.13 unch 0.00 0.32 0.11 0.09 0.11 0.09 0.11 + 0.00 0.24 0.01 0.12 0.10 0.11 - 0.01 0.16 0.10 0.08 0.09 - 0.00 0.11 0.01 0.09 0.09 0.09 0.09 - 0.01 0.13 0.30 unch 0.00 0.65 0.00 0.00 0.32 0.39 0.45 0.00 0.45 + 0.02 0.90 13.65 19.00 17.40 17.70 + 0.22 20.10 10.40 14.43 13.16 13.53 + 0.69 15.30 0.03 0.05 0.05 0.05 + 0.01 0.06 0.03 unch 0.00 0.04 0.04 0.04 0.04 0.01 unch 0.00 0.15 0.02 0.02 0.02 0.01 unch 0.00 0.07 0.05 0.05 0.05 0.02 unch 0.00 0.07 0.03 0.00 0.03 0.02 0.03 0.02 0.03 + 0.01 0.14 0.03 unch 0.00 0.07 0.05 0.04 0.04 0.06 0.07 0.06 0.07 + 0.01 0.51 2.24 5.45 4.88 5.16 + 0.13 5.45 0.18 unch 0.00 0.37 0.18 0.18 0.18 0.45 1.19 1.05 1.11 + 0.06 1.25 0.12 0.24 0.22 0.23 + 0.01 0.60 0.02 unch 0.00 0.07 0.02 0.02 0.02 0.17 0.20 0.18 0.20 + 0.01 1.18 0.03 unch 0.00 0.08 0.03 0.03 0.03 2.02 0.20 4.94 4.75 + 4.85 4.49 0.53 1.15 0.00 1.14 + 0.15 1.27 0.00 unch 0.00 0.01 0.00 0.00 0.00 0.04 unch 0.00 0.11 0.06 0.05 0.06 0.03 0.04 0.04 0.04 + 0.01 0.10 0.06 0.00 0.15 nch u 0.00 0.00 0.06 0.04 unch 0.00 0.04 0.04 0.04 0.04 1.55 2.01 1.63 1.82 + 0.02 3.66 1.22 1.53 1.22 1.41 + 0.05 2.73 1.59 1.90 1.76 1.90 + 0.05 2.40 0.05 0.06 0.05 0.06 + 0.00 0.10 0.05 0.08 0.07 0.07 - 0.01 0.12 0.14 0.12 0.14 unch 0.00 0.24 0.10 0.11 0.09 0.11 - 0.00 0.19 0.07 0.08 0.07 0.08 + 0.00 0.14 0.07 0.11 0.10 0.10 + 0.01 0.19 0.09 0.02 0.04 0.04 0.04 - 0.01 0.10 0.05 unch 0.00 0.18 0.15 0.15 0.15 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.04 0.05 0.05 0.05 + 0.00 0.07 0.06 0.07 0.07 0.07 - 0.01 0.12 0.05 0.09 0.08 0.09 + 0.01 0.13 0.07 unch 0.00 0.18 0.11 0.09 0.10 0.01 0.03 0.03 0.03 - 0.01 0.06 0.01 0.03 0.03 0.03 + 0.01 0.05 0.02 0.04 0.03 0.03 - 0.01 0.06 0.07 unch 0.00 0.21 0.18 0.18 0.18 0.07 0.28 0.22 0.27 + 0.07 0.28 2.43 3.46 3.19 3.24 - 0.14 3.73 1.83 2.63 2.44 2.46 - 0.11 2.86 1.91 4.30 3.80 4.06 + 0.09 4.30 2.60 5.40 5.02 5.18 - 0.03 5.40 0.01 unch 0.00 0.15 0.03 0.03 0.03 0.12 0.18 0.17 0.17 - 0.01 0.28 0.09 unch 0.00 0.20 0.15 0.15 0.15 0.04 unch 0.00 0.20 0.10 0.10 0.10 0.03 0.09 0.07 0.07 + 0.01 0.24 0.19 0.33 0.27 0.27 - 0.04 0.52 0.27 0.44 0.36 0.36 - 0.06 0.70 0.03 0.05 0.05 0.05 + 0.01 0.10 0.02 0.04 0.03 0.03 - 0.00 0.06 0.23 0.26 0.23 0.26 + 0.01 0.44 0.31 0.35 0.31 0.35 + 0.02 0.57 0.02 0.03 0.00 0.02 + 0.01 0.05 0.06 0.06 0.06 unch 0.00 0.13 0.06 0.00 0.08 0.07 0.07 - 0.00 0.45 0.05 0.10 0.09 0.10 + 0.01 0.58 0.35 0.64 0.54 0.54 - 0.06 0.76 0.27 0.45 0.41 0.41 - 0.04 0.58 0.26 0.47 0.43 0.45 - 0.02 0.60 0.19 0.38 0.32 0.32 - 0.03 0.54 0.11 unch 0.00 0.27 0.20 0.20 0.20 0.06 0.05 0.06 + 0.01 0.10 0.04 0.07 0.15 0.14 0.14 + 0.01 0.16 0.07 0.19 0.18 0.19 + 0.02 0.20 2.14 2.26 2.21 2.21 - 0.05 2.98 0.20 0.35 0.31 0.35 + 0.04 0.47 0.27 unch 0.00 0.62 0.49 0.00 0.49 29.01 39.52 38.33 38.85 - 0.40 49.56 0.08 0.16 0.12 0.14 - 0.01 0.20 0.11 0.20 0.16 0.18 - 0.02 0.27 0.10 0.16 0.12 0.16 + 0.01 0.18 0.08 0.00 0.08 + 0.01 0.10 0.05 0.08 0.06 0.06 + 0.00 0.09 0.03 0.03 unch 0.00 0.12 0.03 0.03 0.03 0.03 0.03 0.03 0.03 - 0.01 0.09 0.02 0.03 0.03 0.03 + 0.01 0.06 0.00 0.03 0.02 0.02 + 0.00 0.08 0.04 unch 0.00 0.16 0.05 0.05 0.05 0.03 unch 0.00 0.07 0.04 0.04 0.04 1.29 1.17 1.25 - 0.03 2.30 0.98 0.04 0.04 0.04 unch 0.00 0.13 0.02 0.64 0.78 0.67 0.78 + 0.05 1.43 14.13 13.31 13.67 + 0.27 15.17 8.11 10.71 18.60 17.57 17.92 + 0.37 20.00 0.02 0.03 0.02 0.03 + 0.01 0.03 0.04 0.15 0.10 0.14 + 0.03 0.27 0.03 unch 0.00 0.24 0.08 0.08 0.08 0.03 unch 0.00 0.20 0.05 0.00 0.05 0.02 0.03 0.03 0.03 - 0.01 0.12 0.29 0.37 0.31 0.34 - 0.03 1.13 0.67 1.00 0.79 0.90 + 0.09 1.77 0.02 unch 0.00 0.23 0.07 0.05 0.05 0.02 0.07 0.05 0.07 + 0.01 0.08 0.01 0.06 0.03 0.06 + 0.01 0.06 0.12 0.17 0.15 0.15 - 0.00 0.29 0.17 0.22 0.20 0.22 + 0.03 0.38 0.02 unch 0.00 0.30 0.03 0.03 0.03 0.01 unch 0.00 0.03 0.00 0.00 0.01 0.07 0.11 0.10 0.11 + 0.01 0.17 0.32 0.30 0.30 + 0.01 0.33 0.09 0.55 unch 0.00 0.96 0.00 0.00 0.55 0.01 unch 0.00 0.05 0.03 0.03 0.03 0.09 0.16 0.14 0.16 + 0.01 0.20 0.59 0.75 0.66 0.75 + 0.04 1.48 0.01 0.02 0.01 0.01 - 0.01 0.38 0.02 unch 0.00 0.50 0.03 0.02 0.03 0.06 0.10 0.00 0.09 - 0.02 0.39 0.00 0.00 0.00 0.00 - 0.00 0.01 0.21 0.28 0.25 0.28 + 0.03 0.36 0.28 0.37 0.33 0.35 + 0.03 0.47 0.16 0.70 0.00 0.61 + 0.01 0.70 0.12 unch 0.00 0.46 0.00 0.00 0.46 0.02 unch 0.00 0.05 0.02 0.02 0.02 0.11 0.14 0.11 0.12 - 0.02 0.25 0.08 0.11 0.08 0.09 - 0.01 0.18 0.07 0.09 0.07 0.07 - 0.02 0.23 0.05 0.06 0.05 0.05 - 0.00 0.17 0.01 unch 0.00 0.02 0.02 0.01 0.01 0.20 0.21 0.20 0.20 - 0.01 0.30 0.07 unch 0.00 0.29 0.08 0.07 0.07 0.12 0.53 0.48 0.50 - 0.02 0.65 35.53 42.17 40.55 40.85 - 0.90 55.47 25.81 31.99 31.00 31.16 - 0.44 42.55 0.44 0.78 0.71 0.71 - 0.03 1.36 0.33 0.58 0.57 0.58 + 0.01 1.04 0.06 unch 0.00 0.10 0.07 0.07 0.07 0.02 unch 0.00 0.03 0.02 0.02 0.02 0.01 0.02 0.02 0.02 + 0.01 0.04 0.00 0.00 0.03 unch 0.00 0.11 0.03 0.04 unch 0.00 0.14 0.06 0.05 0.06 0.02 0.03 0.03 0.03 - 0.00 0.14 0.03 unch 0.00 0.17 0.05 0.04 0.05 0.57 unch 0.00 2.34 0.67 0.57 0.63

Taiga Gold* O 22 Taiga Gold 82 Tajiri Res V 210 Taku Gold* O 18 Taku Gold 9 Talisker Res* O 24 Talisker Res 141 Talmora Diamd 30 Talon Metals T 338 10201 O Tamino Mnrls* Tango Mining V 3375 V 133 Tanqueray Expl Tantalex Res 269 Tanzania Min* O 80

0.04 0.06 0.05 0.06 + 0.01 0.12 0.06 0.08 0.07 0.08 + 0.01 0.17 0.04 unch 0.00 0.18 0.07 0.07 0.07 0.02 unch 0.00 0.12 0.00 0.00 0.04 0.03 0.06 0.00 0.06 + 0.02 0.15 0.00 0.11 0.11 0.11 + 0.01 0.11 0.08 unch 0.00 0.16 0.15 0.14 0.15 0.01 unch 0.00 0.06 0.04 0.04 0.04 0.07 0.23 0.17 0.19 - 0.03 0.23 0.00 0.00 0.00 0.00 + 0.00 0.00 0.01 unch 0.00 0.04 0.01 0.01 0.01 0.58 0.74 0.70 0.74 + 0.02 1.21 0.02 unch 0.00 0.15 0.04 0.03 0.04 0.12 unch 0.00 2.52 2.52 2.34 2.51

T

2019-07-02 8:12 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / JULY 8–21, 2019

Week

12-month

Exc Volume High Low Last Change High Low

Tanzanian Gold T 287 X 1307 Tanzanian Gold* Taranis Res V 201 Taranis Res* O 286 Tarku Res V 126 Tartisan Nick* O 1 Tartisan Nick 316 Taseko Mines* X 2302 Taseko Mines T 498 Tearlach Res V 1 Teck Res T 7080 Teck Res* N 13081 Teck Res T 7 Telson Res * O 143 Telson Res V 123 Tembo Gold V 184 Tembo Gold* O 125 Teranga Gold T 1572 Teranga Gold* O 162 Teras Res* O 10 Teras Res V 235 Terraco Gold V 1471 Terrax Mnrls* O 87 Terrax Mnrls V 482 Terreno Res V 116 Teslin Rvr Res V 1014 Tesoro Mnrls V 20 Tethyan Res V 298 Teuton Res V 71 Teuton Res* O 27 O 791 Texas Mineral* Thor Expl V 11 25 Thunder Mtn Gd* O Thunderstruck V 357 Thunderstruck* O 505 Tiger Intl V 46 Till Capital V 0 Timberline Res V 274 O 107 Timberline Res* Tinka Res* O 338 Tinka Res V 946 Tintina Mines V 15 Tisdale Res* O 1 Tisdale Res V 10 Titan Mining T 960 Titanium Corp V 404 TMAC Resource* O 78 T 550 TMAC Resources TNR Gold V 1309 Toachi Mg Inc V 692 Toachi Mg Inc* O 50 Tocvan Venture 40 O 2882 Tombstone Expl* O 67 Tonogold Res* Torex Gold* O 62 Torex Gold T 3591 Torq Resources* O 74 V 246 Torq Resources Tower Res* O 14 Tower Res V 407 Transatlantic V 369 Transatlantic* O 800 Transition Met* O 181 V 155 Transition Met Treasury Metal T 839 O 20 Treasury Metal* Trecora Res* N 366 Tres-Or Res V 1780 Trevali Mng* O 328 Trevali Mng T 7894 Tri Origin Exp V 41 Trifecta Gold V 32 Trifecta Gold* O 2 Trigen Res* O 161 Trilogy Mtls T 188

1.12 1.03 1.12 + 0.15 1.32 0.34 0.86 0.78 0.86 + 0.12 0.94 0.25 0.07 0.06 0.07 - 0.01 0.12 0.05 0.06 0.05 0.05 - 0.01 0.09 0.03 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.04 0.00 0.04 + 0.01 0.08 0.02 0.56 0.51 0.53 - 0.00 1.12 0.44 0.71 0.68 0.69 - 0.02 1.46 0.60 0.20 0.20 0.20 unch 0.00 0.28 0.03 30.35 29.51 30.22 + 0.41 34.49 23.90 23.07 22.50 23.06 + 0.48 26.40 18.17 30.30 29.70 29.99 + 0.14 34.99 23.89 0.28 0.27 0.27 - 0.01 0.60 0.22 0.37 0.32 0.32 - 0.06 0.78 0.28 0.03 0.02 0.02 - 0.01 0.04 0.01 0.02 0.02 0.02 unch 0.00 0.03 0.01 4.05 3.74 4.01 + 0.20 5.03 2.97 3.07 2.88 3.06 + 0.19 3.81 2.23 0.04 0.04 0.04 unch 0.00 0.07 0.03 0.06 0.05 0.05 - 0.01 0.12 0.04 0.13 0.11 0.12 + 0.01 0.13 0.06 0.33 0.31 0.33 + 0.05 0.36 0.25 0.44 0.38 0.43 + 0.03 0.50 0.33 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.51 0.47 0.49 + 0.01 0.60 0.33 0.05 0.00 0.05 unch 0.00 0.07 0.05 0.63 0.50 0.53 - 0.09 0.85 0.14 0.19 0.18 0.18 unch 0.00 0.24 0.10 0.13 0.13 0.13 + 0.00 0.18 0.07 0.38 0.28 0.33 + 0.04 0.57 0.10 0.17 0.17 0.17 - 0.01 0.19 0.13 0.07 0.06 0.06 unch 0.00 0.21 0.03 0.06 0.05 0.05 unch 0.00 0.11 0.04 0.04 0.04 0.04 - 0.00 0.15 0.03 0.06 0.05 0.06 unch 0.00 0.17 0.04 2.12 0.00 1.88 - 0.24 2.56 1.45 0.10 0.08 0.10 + 0.01 0.19 0.07 0.09 0.06 0.08 + 0.01 0.14 0.00 0.25 0.20 0.24 + 0.03 0.45 0.19 0.33 0.27 0.32 + 0.06 0.56 0.25 0.05 0.05 0.05 unch 0.00 0.08 0.02 0.11 0.11 0.11 unch 0.00 0.13 0.05 0.14 0.00 0.14 - 0.01 0.66 0.14 0.42 0.34 0.40 - 0.05 1.47 0.34 0.75 0.00 0.68 - 0.02 1.20 0.47 4.92 4.60 4.63 - 0.22 5.66 2.71 6.57 5.97 6.20 - 0.33 7.52 3.57 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.05 0.05 0.05 + 0.01 0.15 0.04 0.04 0.04 0.04 unch 0.00 0.12 0.02 0.10 0.08 0.10 + 0.02 0.12 0.08 0.02 0.01 0.01 + 0.00 0.02 0.00 0.24 0.19 0.23 + 0.01 0.25 0.00 10.91 10.10 10.30 + 0.04 13.52 5.74 14.40 13.15 13.46 - 0.02 18.21 7.52 0.39 0.37 0.38 - 0.01 0.43 0.25 0.52 0.46 0.46 - 0.06 0.58 0.32 0.03 0.03 0.03 unch 0.00 0.10 0.01 0.06 0.05 0.05 - 0.01 0.13 0.02 0.02 0.02 0.02 unch 0.00 0.16 0.02 0.01 0.00 0.01 unch 0.00 0.10 0.01 0.14 0.14 0.14 - 0.01 0.17 0.07 0.20 0.19 0.19 - 0.03 0.23 0.06 0.29 0.25 0.29 + 0.04 0.53 0.21 0.22 0.19 0.22 + 0.04 0.39 0.15 9.60 9.19 9.57 + 0.22 15.60 6.69 0.02 0.02 0.02 - 0.23 0.35 0.15 0.23 0.21 0.21 - 0.01 0.71 0.19 0.31 0.27 0.28 - 0.02 0.93 0.26 0.02 0.01 0.01 unch 0.00 0.04 0.01 0.04 0.00 0.04 unch 0.00 0.12 0.04 0.03 0.03 0.03 + 0.00 0.08 0.02 0.29 0.24 0.27 + 0.01 1.01 0.19 4.10 3.00 3.92 - 0.08 4.10 2.03

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Trilogy Mtls* X 1312 TriMetals Mng* O 35 TriMetals Mng* O 56 TriMetals Mng T 367 Trinity Res* O 1 Trinity Valley V 16 Trio Resources* O 946 TriStar Gold* O 95 TriStar Gold V 37 Triumph Gold V 341 Triumph Gold* O 382 Troilus Gold T 879 Troilus Gold* O 73 Troubadour Res V 340 Troy Res* O 94 True Grit Res V 124 True North Gem* O 1 True North Gem V 10 Tsodilo Res V 42 Tudor Gold V 267 Tudor Gold * O 110 Turquoise HIl T 7217 Turquoise HIl* N 16596 TVI Pacific* O 100 TVI Pacific V 243 Tyhee Gold* O 1 Typhoon Expl V 487

3.13 2.78 2.95 - 0.08 3.13 1.48 0.04 0.04 0.04 + 0.00 0.08 0.02 0.07 0.05 0.05 - 0.02 0.23 0.04 0.07 0.05 0.06 - 0.01 0.10 0.03 0.01 0.01 0.01 - 0.00 0.20 0.01 0.12 0.00 0.10 - 0.02 0.12 0.04 0.00 0.00 0.00 + 0.00 0.01 0.00 0.15 0.14 0.14 - 0.00 0.17 0.07 0.20 0.17 0.17 - 0.01 0.25 0.09 0.48 0.40 0.44 - 0.02 0.80 0.31 0.37 0.30 0.34 - 0.01 0.60 0.23 0.86 0.75 0.86 + 0.08 1.45 0.40 0.62 0.58 0.62 + 0.02 0.93 0.40 0.09 0.07 0.07 - 0.02 0.25 0.06 0.07 0.06 0.07 + 0.00 0.12 0.06 0.01 0.01 0.01 unch 0.00 0.07 0.01 0.08 0.08 0.08 unch 0.00 0.14 0.00 0.11 0.00 0.10 - 0.01 1.00 0.10 0.14 0.00 0.12 - 0.02 0.54 0.12 0.48 0.38 0.44 + 0.06 0.48 0.20 0.38 0.29 0.33 + 0.05 0.38 0.15 1.71 1.56 1.63 + 0.03 3.90 1.47 1.30 1.18 1.24 + 0.04 2.97 1.12 0.01 0.01 0.01 unch 0.00 0.01 0.00 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.04 0.02 0.04 + 0.01 0.06 0.02

U.S. Gold* D 462 U.S. Lithium* O 10 U3O8 Corp* O 42 U3O8 Corp T 78 Ubique Mineral 25 UC Res* O 380 Ucore Rare Mtl V 301 Ucore Rare Mtl* O 834 UEX Corp T 1056 Ultra Lithium* O 38 Ultra Lithium V 34 Umbral Enrgy* O 158 Unigold* O 2 Unigold V 14 O 138 United Battery* United Battery 436 United Res Hdg* O 274 141 United States A* X United States S* N 53071 Unity Metals V 462 Universal Cop V 379 Universal Cop* O 50 Universal Vent V 559 Ur-Energy* X 1794 Ur-Energy T 154 375 Uragold Bay Rs V Uranium Energy* X 8135 O 1 Uranium Hunter* Uranium Res* D 61 Uravan Mnrls V 469 V 223 UrbanGold Min USCorp* O 0 Val-d’Or Mg* O 6 Val-d’Or Mg V 6 N 64712 Vale* Valley High Mg* O 11821 ValOre Metals* O 65 ValOre Metals V 166 Valterra Res* O 38 Valterra Res V 21 O 46 Vanadian Enrgy* V 57 Vanadian Enrgy Vanadium One* O 12 Vanadium One V 158 O 146 Vanadiumcorp*

1.08 1.01 1.03 - 0.03 1.69 0.74 0.31 0.26 0.26 - 0.04 0.96 0.09 0.12 0.10 0.11 - 0.01 0.29 0.07 0.16 0.14 0.15 + 0.01 0.35 0.10 0.09 0.00 0.08 - 0.03 0.25 0.05 0.53 0.29 0.52 + 0.20 1.27 0.00 0.26 0.23 0.23 - 0.02 0.34 0.09 0.20 0.17 0.17 - 0.02 0.25 0.07 0.17 0.16 0.17 unch 0.00 0.26 0.14 0.07 0.06 0.07 - 0.01 0.17 0.05 0.08 0.00 0.08 unch 0.00 0.23 0.08 0.35 0.32 0.35 + 0.00 0.54 0.11 0.12 0.00 0.12 + 0.04 0.14 0.07 0.16 0.00 0.16 - 0.01 0.23 0.09 0.03 0.01 0.02 + 0.00 1.58 0.01 0.03 0.02 0.03 unch 0.00 1.68 0.02 0.06 0.04 0.05 unch 0.00 0.07 0.01 0.59 0.53 0.56 + 0.10 1.05 0.42 15.42 14.27 15.31 + 0.64 38.89 11.67 0.66 0.50 0.63 - 0.02 1.40 0.10 0.08 0.07 0.07 - 0.01 0.26 0.06 0.05 0.05 0.05 unch 0.00 0.10 0.02 0.37 0.35 0.37 + 0.01 0.63 0.28 0.96 0.89 0.94 + 0.01 0.99 0.54 1.26 1.17 1.24 + 0.02 1.30 0.74 0.09 0.08 0.09 unch 0.00 0.12 0.06 1.40 1.30 1.37 + 0.01 1.89 1.12 2.60 2.50 2.50 + 0.50 2.60 0.26 6.58 5.71 5.85 - 0.45 22.00 3.50 0.04 0.03 0.04 + 0.01 0.05 0.02 0.16 0.13 0.14 - 0.02 0.17 0.10 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.05 0.05 0.05 + 0.00 0.09 0.05 0.08 0.08 0.08 unch 0.00 0.14 0.08 13.69 13.28 13.44 - 0.09 16.13 10.89 0.00 0.00 0.00 - 0.00 0.01 0.00 0.19 0.17 0.17 - 0.03 0.48 0.00 0.26 0.23 0.23 - 0.02 0.70 0.11 0.02 0.02 0.02 - 0.00 0.03 0.01 0.02 0.00 0.02 unch 0.00 0.04 0.02 0.03 0.02 0.03 + 0.01 0.13 0.01 0.04 0.00 0.04 + 0.01 0.18 0.03 0.08 0.08 0.08 - 0.02 0.21 0.04 0.11 0.00 0.11 unch 0.00 0.29 0.06 0.06 0.05 0.05 - 0.00 0.15 0.01

U-V

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

V 343 Vanadiumcorp 261 Vanstar Mng Rs V 50 Vanstar Mng Rs* O Vantex Res V 12 Vela Minerals V 16 O 100 Velocity Mnrls* Velocity Mnrls V 288 Vendetta Mng V 597 O 97 Vendetta Mng* V 65 Venerable Vent Verde Potash T 91 Verde Res* O 10 Veris Gold* O 5 Vertical Expl V 151 10242 Victoria Gold V O 72 Victory Metals* V 152 Victory Metals Victory Nickel 133 Victory Res 2 Victory Res* O 15 Virginia Enrgy V 1180 O 92 Virginia Enrgy* Viscount Mng V 303 270 Visible Gold M V Vision Lithium V 31 O 30 Vision Lithium* Vista Gold* X 907 Vista Gold T 54 Viva Gold* O 69 Viva Gold V 42 Vizsla Res V 211 Volcanic Gold V 0 Volt Energy V 335 Voltaic Min V 50 Voyageur Min V 64 O 301 VR Resources* V 239 VR Resources Vulcan Mnrls V 19 VVC Expl V 220

0.06 unch 0.00 0.14 0.07 0.06 0.07 0.24 0.23 0.23 unch 0.00 0.36 0.08 0.18 0.18 0.18 unch 0.00 0.19 0.07 0.14 unch 0.00 0.40 0.26 0.26 0.26 0.14 0.22 0.14 0.14 - 0.08 0.27 0.09 0.28 0.28 0.28 - 0.02 0.30 0.13 0.40 0.38 0.39 + 0.01 0.40 0.09 unch 0.00 0.22 0.10 0.09 0.10 0.07 0.08 0.07 0.08 + 0.00 0.17 0.06 unch 0.00 0.13 0.06 0.06 0.06 0.53 0.63 0.00 0.57 - 0.05 1.25 0.00 0.00 0.10 unch 0.04 0.03 0.04 0.00 0.00 0.00 0.00 + 0.00 0.01 0.03 0.04 0.04 0.04 - 0.01 0.15 0.30 0.42 0.38 0.40 - 0.01 0.55 0.45 0.54 0.47 0.48 - 0.00 0.57 0.38 0.64 0.61 0.61 - 0.03 0.77 0.01 0.04 0.00 0.02 + 0.01 0.05 0.01 unch 0.00 0.12 0.00 0.00 0.03 0.02 unch 0.00 0.10 0.02 0.02 0.02 0.08 0.13 0.08 0.10 - 0.03 0.37 0.06 0.10 0.06 0.07 + 0.00 0.28 0.15 0.18 0.16 0.16 - 0.02 0.29 0.08 0.08 0.08 - 0.01 0.11 0.04 0.05 0.07 0.00 0.07 + 0.02 0.40 0.04 0.05 0.04 0.05 + 0.01 0.30 0.37 0.82 0.76 0.76 - 0.05 0.92 0.56 1.09 1.00 1.00 - 0.06 1.24 0.20 0.26 0.23 0.25 + 0.01 0.40 0.25 0.33 0.29 0.33 + 0.01 0.48 0.13 0.18 0.16 0.16 - 0.01 0.20 0.14 unch 0.00 1.05 0.00 0.00 0.30 0.03 0.05 0.04 0.05 + 0.02 0.15 0.13 unch 0.00 0.28 0.26 0.25 0.26 0.05 0.08 0.07 0.08 + 0.02 0.12 0.09 0.11 0.09 0.11 + 0.02 0.30 0.12 0.15 0.13 0.15 + 0.02 0.40 0.03 0.04 0.03 0.04 + 0.01 0.07 0.02 unch 0.00 0.05 0.04 0.04 0.04

Walker Lane* O 2 Walker River* O 35 Walker River V 2509 T 6670 Wallbridge Mng Warrior Gold* O 40 Warrior Gold V 537 Waseco Res V 178 Wealth Mnrls V 147 Wealth Mnrls* O 504 V 2 Wescan Gldflds O 614 Wesdome Gold* T 3519 Wesdome Gold 126 West High Yld V West Kirkland V 912 91 West Kirkland * O 25 West Red Lake 81 West Red Lake* O O 75 Western Areas* Western Atlas V 286 O 0 Western Atlas* 127 Western Copper T X 279 Western Copper* Western Mag V 943 O 822 Western Mag* 2 Western Pac Rs* O 1 Western Pac Rs V T 1398 Western Potash Western Res* O 46 O 78 Western U&V* Western U&V 63 O 0 Westgold Res* O 35 Westhaven Vent* V 106 Westhaven Vent

0.05 unch 0.00 0.40 0.25 0.25 0.25 0.08 0.15 0.13 0.13 - 0.01 0.19 0.05 unch 0.00 0.27 0.20 0.16 0.19 0.06 0.38 0.33 0.38 + 0.05 0.47 0.03 unch 0.00 0.09 0.07 0.07 0.07 0.04 0.10 0.07 0.09 - 0.01 0.13 0.02 0.04 0.03 0.03 - 0.01 0.05 0.31 0.39 0.32 0.35 - 0.04 1.05 0.22 0.30 0.25 0.27 - 0.02 0.80 0.01 unch 0.00 0.11 0.04 0.00 0.04 2.00 4.35 3.95 4.11 - 0.14 4.35 2.95 5.73 5.19 5.39 - 0.28 5.74 0.30 0.26 0.30 + 0.01 0.60 0.20 0.03 0.06 0.05 0.06 + 0.01 0.08 0.05 0.04 0.04 + 0.01 0.06 0.02 0.10 0.00 0.10 + 0.01 0.12 0.05 0.06 0.05 0.06 + 0.00 0.09 0.03 1.27 unch 0.00 2.75 0.00 0.00 1.43 0.05 0.08 0.06 0.08 + 0.02 0.14 0.05 unch 0.00 0.07 0.00 0.00 0.05 0.89 0.83 0.85 - 0.03 1.14 0.52 0.35 0.68 0.63 0.66 - 0.02 0.87 0.03 unch 0.00 0.32 0.19 0.16 0.18 0.02 0.14 0.12 0.14 + 0.00 0.43 0.18 0.17 0.17 + 0.01 0.62 0.01 0.00 0.00 0.35 unch 0.00 1.08 0.32 0.11 0.27 0.22 0.27 + 0.05 0.40 0.08 0.17 0.00 0.17 + 0.02 0.30 0.67 1.15 1.01 1.01 - 0.11 2.70 0.56 1.49 1.34 1.34 - 0.15 3.32 0.60 unch 0.00 1.24 0.00 0.00 1.03 0.10 0.59 0.53 0.53 - 0.00 1.03 0.13 0.78 0.71 0.74 + 0.04 1.43

W-Z

(100s) Stock

Week

23

12-month

Exc Volume High Low Last Change High Low

Westkam Gold* O 517 Westkam Gold V 2229 Westminster Rs V 5 O 88 Westmoreland* WestMountain* O 0 Wheaton Prec M* N 13694 Wheaton Prec M T 6969 White Energy* O 3 White Gold* O 22 White Gold V 1950 White Metal R* O 500 White Metal Rs V 2820 White Mtn Engy* O 5443 Whitehaven Coa* O 0 Whitemud Res V 10 Wildsky Res* O 11 Wildsky Res V 14 Winston Gold* O 245 Winston Gold 170 Winston Res 75 Wolfden Res* O 90 Wolfden Res V 281 Wolfeye Res V 173 Worldwide Res V 5 X-Terra Res V 222 X-Terra Res* O 40 Xanadu Mines T 47 Xemplar Egy* O 3 Xiana Mng V 5 Ximen Mining V 699 Ximen Mining* O 9 Xtierra Inc V 57 Xtra-Gold Res T 206 Xtra-Gold Res* O 47 16748 Yamana Gold T Yamana Gold* N 74663 Yanzhou Coal* O 84 Yorbeau Res T 2198 You Han Data* O 0 O 0 Zadar Ventures* Zadar Ventures V 8 Zanzibar Gold 140 Zara Res* O 772 ZEN Graphene V 211 O 39 ZEN Graphene* Zena Mining V 205 Zenith Explor 5 Zephyr Mnls* O 61 Zephyr Mnls V 209 Zimtu Capital V 2 Zinc One Res V 652 Zinc One Res * O 78 Zincore Mtls* O 0 ZincX Res* O 180 ZincX Res V 199 Zonte Metals* O 23 Zonte Metals V 178

0.01 0.00 0.01 + 0.00 0.02 0.00 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.05 0.05 0.05 unch 0.00 0.14 0.03 0.01 0.01 0.01 + 0.00 0.20 0.01 0.00 0.00 3.00 unch 0.00 3.00 3.00 25.22 23.79 24.18 + 0.03 25.24 15.08 33.20 31.14 31.67 - 0.26 33.85 19.87 0.32 0.32 0.32 unch 0.00 0.31 0.19 1.01 0.00 0.99 + 0.10 1.44 0.46 1.31 1.17 1.29 + 0.09 2.00 0.54 0.04 0.04 0.04 unch 0.00 0.19 0.02 0.05 0.04 0.05 + 0.01 0.25 0.04 0.02 0.00 0.02 + 0.01 0.02 0.00 0.00 0.00 2.91 unch 0.00 4.00 2.71 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.09 0.07 0.09 + 0.03 0.77 0.05 0.11 0.10 0.11 unch 0.00 1.01 0.06 0.04 0.03 0.04 - 0.00 0.07 0.02 0.05 0.04 0.05 - 0.01 0.07 0.03 0.03 0.03 0.03 unch 0.00 0.12 0.02 0.13 0.11 0.12 + 0.00 0.33 0.10 0.16 0.15 0.16 - 0.01 0.43 0.14 0.69 0.61 0.69 + 0.02 0.96 0.50 0.03 0.03 0.03 unch 0.00 0.07 0.02 0.08 0.07 0.08 unch 0.00 0.17 0.07 0.07 0.07 0.07 unch 0.00 0.10 0.07 0.06 0.05 0.06 + 0.01 0.17 0.04 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.49 0.00 0.49 unch 0.00 0.63 0.31 0.64 0.54 0.61 - 0.03 0.86 0.14 0.49 0.45 0.47 - 0.01 10.27 0.10 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.40 0.37 0.40 + 0.03 0.47 0.23 0.31 0.27 0.31 + 0.03 0.45 0.11 3.38 3.10 3.32 + 0.10 4.20 2.41 2.57 2.36 2.52 + 0.06 3.23 1.78 0.91 0.91 0.91 unch 0.00 1.22 0.91 0.04 0.03 0.04 unch 0.00 0.05 0.02 0.00 0.00 1.10 unch 0.00 4.06 0.75 0.00 0.00 0.08 unch 0.00 0.10 0.02 0.12 0.11 0.12 + 0.01 0.65 0.08 0.16 0.16 0.16 unch 0.00 0.32 0.10 0.30 0.22 0.25 - 0.04 0.63 0.04 0.31 0.30 0.31 + 0.01 0.64 0.30 0.24 0.00 0.23 - 0.01 0.48 0.23 0.05 0.05 0.05 unch 0.00 0.09 0.05 0.00 0.00 0.06 unch 0.00 0.10 0.04 0.35 0.23 0.35 + 0.11 0.35 0.11 0.32 0.30 0.30 - 0.01 0.33 0.15 0.22 0.00 0.22 unch 0.00 0.35 0.20 0.03 0.02 0.03 unch 0.00 0.23 0.02 0.03 0.01 0.01 - 0.01 0.17 0.01 0.01 0.01 0.01 unch 0.00 0.06 0.01 0.13 0.13 0.13 unch 0.00 0.56 0.13 0.17 0.16 0.16 unch 0.00 0.75 0.16 0.17 0.17 0.17 unch 0.00 0.30 0.12 0.26 0.22 0.23 - 0.01 0.41 0.17

BID-ASK — JUNE 24–28, 2019

STOCK

12-MONTH

EXC BID ASK LAST HIGH

12 Exploration 37 Capital African Metals Aguila Amer Gd Alba Minerals Alchemist Mng Alexandra Cap Allante Res Altan Nevada Altan Rio Min American CuMo American Uran Anconia Res Anglo-Bomarc Angus Ventures Antler Hill Archon Mineral Argentum Silvr Argex Titanium Arrowstar Res Asbestos Corp Ashanti Sanko Astur Gold Atlanta Gold Aurelius Min Aurex Energy Austin Res Austral Gold Balto Res Banro Corp* Barker Min BE Res Bearclaw Cap BHK Mining Black Bull Res Black Mammoth Blackheath Res Bold Ventures Boss Power Brigadier Gold Brunswick Res Buffalo Coal Bullion Gold Bunker Hill Cairo Res Camrova Res Canadian Silv Candelaria Mg Canex Energy Caracara Silvr Cariboo Rose Carlin Gold Cassius Vents CAT Strategic Cerro de Pasc Cerro de Pasc Cerro Mng Chantrell Vent CIM Intl Grp Cliffmont Res Cliffs Nat Res* Clydesdale Res CMX Gold & Sil Colombia Crest Contintl Prec Copper One Cresval Cap Currie Rose Rs Cyprium Mng Discovery Harb Discovery-Corp Eastern Zinc Electra Stone Endurance Gold ePower Metals Eurotin Evolving Gold Excalibur Res Fabled Copper Fengro Industr Fieldex Expl Finore Mng Fire River Gol Firebird Res First Energy First Idaho First Mexican Five Star Diam Freeport Res Full Metal Mnl Fusion Gold Gem Intl Res Generic Gold Gentor Res GFM Res Glacier Lake

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

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0.50 0.93 0.16 0.20 0.16 0.20 0.04 0.06 0.06 0.09 ...

0.01 0.01 0.02 0.06 0.07 0.06 0.12 0.06 0.25 0.06 0.07 0.01 0.01 0.01 0.04 0.08 0.08 0.15 0.16 ...

0.29 0.45 0.10 0.10 0.10 0.20 0.45 0.52 0.50 0.92 0.17 0.18 0.18 0.33 0.02 0.02 0.02 0.06 0.01 0.01 0.12 0.45 0.90 0.35 0.55 0.04 0.05 0.05 0.06 0.10 0.12 0.12 0.31 0.03 0.04 0.03 0.05 0.13 0.14 0.14 0.15 0.20 0.26 0.20 0.78 0.02 0.03 0.02 0.02 0.06 0.06 0.06 0.10 0.07 0.13 0.10 0.15 0.11 0.11 0.11 2.10 0.01 0.01 0.01 0.02 0.04 0.05 0.04 0.07 0.03 0.03 0.03 0.05 0.02 0.02 0.02 0.10 0.18 0.10 0.04 0.06 0.02 0.11 0.01 0.02 0.02 0.03 0.01 0.02 0.02 0.04 0.17 0.20 0.17 0.14 0.18 0.15 0.25 ... 0.03 0.03 0.05 0.01 0.01 0.01 0.02 0.06 0.15 0.10 0.47 0.05 0.19 0.06 7.70 0.32 0.39 0.30 0.42 0.01 0.01 0.07 0.09 0.01 0.01 0.06 0.06 0.16 0.23 0.23 0.80 ... ...

0.17 0.25 0.11 0.11 0.11 0.14 0.04 0.05 0.05 0.05 0.02 0.02 0.02 0.04 0.07 0.09 0.06 0.08 0.04 ...

0.04 0.15 0.32 0.32 0.32 0.37 ... ...

0.29 0.34 0.29 0.45 0.29 0.42 0.01 0.10 0.06 0.12 0.19 0.30 0.19 0.63 0.08 0.12 0.08 0.90 1.45 3.20 1.43 7.17 0.02 0.14 0.04 0.08 0.04 0.05 0.04 0.12 0.26 0.30 0.27 0.30 0.30 0.38 0.30 0.46 0.11 0.15 0.15 0.18 0.03 0.03 0.03 0.05 0.06 0.07 0.07 0.12 0.03 0.03 0.03 0.04 0.05 0.04 0.08 0.01 0.02 0.01 0.02 0.08 0.13 0.08 0.56 0.01 0.02 0.01 0.01 0.03 0.04 0.04 0.07 0.21 0.21 0.15 0.31 0.01 0.03 0.01 0.13 0.08 0.08 0.08 0.10 0.09 0.10 0.10 0.11 0.01 0.01 0.08 0.09 0.02 0.03 0.02 0.12 0.10 0.10 0.19 0.12 0.12 0.11 0.03 0.07 0.09 0.02 0.03 0.02 0.05 0.08 0.18 0.18 0.20 0.09 0.25 0.03 0.03 0.01 0.01 0.01 0.06 0.05 0.08 0.07 0.14 0.07 0.08 0.08 0.11 0.01 0.10 0.10 0.15 0.24 0.30 0.30 0.01 0.02 0.02 ... 0.20 0.06 0.30 0.06 0.07 0.07 0.10 0.05 0.10 0.05 0.05 0.07 0.09 0.07 0.55

LOW

STOCK

0.20 0.05

Global Cop Grp V Global Vanad V Goldbank Mng V Goldbelt Emp V Goldstream Mnl V Great Lakes Gr V Greatbanks Re V V Great Quest Fe V Green Arrow Green River C Green Valley M V Grenville Gold C Guerrero Vents V Handa Mining V Heatherdale Rs V Helio Res V HFX Holding V Highbury Proj V Highvista Gold V Horizonte Mnls T Hunt Mng V V IEMR Res Infinite Lith V Inspiration Mg C Intact Gold V Inter-Rock Mnl V V Interconnect Intercontinent V C Intl Battery Intl Corona V Intl Millm Mng V V Iron South Mng Jasper Mining V C JDF Explor Inc Jiulian Res V Jubilee Gold V C Kal Minerals Karam Min C V Kenna Res Kermode Res V Kings Bay Res V Kingsmen Res V Knick Expl V La Imperial C Lateral Gold V Latin Metals V Leo Res C Lithion Energy V Lithium Energy V Lovitt Res V Lund Enterpr V Madeira Mrnls V MAG Silver* X Magna Terra V Manado Gold V Martina Mnls V Matachewan Con V McChip Res V Meridius Res V Mesa Expl V MetalCorp V Metalore Res V Micrex Dev V Midasco Cap V MillenMin Vent V Millstream Min V Minecorp Egy V Mineral Hill V MK2 Ventures V Montana Gold C Montego Res C Mountain Lake C Murchison Min V MX Gold V Navy Res V Nebu Res V New Jersey Mng C New Klondike V New Stratus V New World Res V Newmac Res V Nexco Res C Northern Uran V Nrthn Lion V NSGold V Nubian Res V Oceanic Iron O V Odyssey Res V Oriental Non F C Pac Arc Res V Pac Cascade V Pac Imperial V Pan Andean Min V Parallel Mng V Pasinex Res C Patriot Gold C

0.17 0.04 0.04 0.25 0.10 0.02 0.01 0.05 0.06 0.01 0.15 0.07 0.50 0.10 0.02 0.33 0.02 0.09 0.03 0.03 0.20 0.01 0.05 0.05 0.10 0.01 0.02 0.03 0.02 0.01 0.02 0.05 0.02 0.01 0.09 0.05 0.24 0.06 0.04 0.15 0.11 0.08 0.02 0.02 0.04 0.04 0.22 0.12 0.26 0.04 0.19 0.05 0.98 0.02 0.04 0.11 0.30 0.10 0.02 0.05 0.01 0.01 0.08 0.01 0.03 0.15 0.01 0.07 0.01 0.04 0.02

0.02 0.07 0.03 0.01 0.05 0.06 0.11 0.03 0.05 0.04 0.07

12-MONTH

EXC BID ASK LAST HIGH LOW

0.07 0.08 0.08 0.11 0.17 0.24 0.24 0.28 0.08 0.24 0.11 0.17 0.01 0.01 0.02 0.05 0.05 0.05 0.18 0.05 0.05 0.04 0.06 0.09 0.12 0.10 0.20 0.10 0.10 0.10 0.14 0.02 0.03 0.02 0.04 0.05 0.06 0.06 0.07 0.08 0.20 0.09 2.00 0.17 0.23 0.23 0.70 0.03 0.12 0.08 0.15 0.03 0.04 0.03 0.08 0.02 0.03 0.03 0.04 0.05 0.06 0.06 0.10 0.05 0.08 0.06 0.07 0.25 0.38 0.28 0.30 ... ...

0.17 0.03 0.04 0.04 0.08 0.08 0.12 0.12 0.32 0.01 0.02 0.02 0.04 0.26 0.29 0.28 0.32 0.04 0.04 0.03 0.06 0.05 0.06 0.06 0.17 0.20 0.23 0.22 0.36 0.06 0.12 0.07 0.11 0.10 0.15 0.13 0.54 ... ...

0.31 ... 0.01 0.04 0.05 0.02 0.02 0.03 0.03 0.24 0.27 0.24 0.28 ... 0.09 0.09 0.29 0.03 ...

0.04 0.05 0.03 0.04 0.04 0.18 0.31 0.57 0.64 0.64 0.08 0.25 0.25 0.25 0.05 ...

0.12 0.15 0.13 0.16 0.15 0.01 0.02 0.01 0.02 0.04 0.04 0.04 0.08 0.40 0.40 0.30 0.70 0.01 0.01 0.01 0.02 0.03 0.08 0.04 0.07 0.12 0.18 0.14 0.89 0.03 0.04 0.03 0.16 ... ...

1.09 ... ...

0.10 0.13 0.13 0.10 0.44 0.08 0.13 0.10 0.10 0.01 0.18 0.13 0.25 ... ...

0.03 0.04 12.52 13.30 12.52 14.40 0.02 0.03 0.03 0.06 0.01 0.01 0.05 0.05 0.05 0.12 0.12 0.12 0.11 0.13 0.15 0.25 0.66 0.73 0.70 0.93 0.15 ...

0.14 0.22 0.02 0.08 0.06 0.07 0.01 0.02 0.01 0.02 0.89 1.20 0.90 2.85 0.02 0.02 0.01 0.19 0.19 0.09 0.13 0.01 0.50 0.05 0.04 0.06 0.04 ... ...

0.12 0.20 0.01 0.15 0.15 0.21 ... 0.16 0.16 0.39 0.09 0.10 0.10 0.10 ... 0.01 0.05 0.31 ... ...

0.05 0.07 0.10 0.08 0.18 0.11 0.11 0.11 0.11 0.28 0.15 0.24 0.04 0.04 0.04 ...

0.22 0.17 0.26 0.01 0.01 0.01 0.10 0.39 0.40 0.25 0.27 0.21 0.30 0.05 0.12 0.09 0.10 0.05 0.15 0.07 0.28 0.01 0.01 0.01 0.02 0.25 0.29 0.32 0.46 0.08 0.10 0.10 0.15 0.08 0.08 0.08 0.22 0.09 0.10 0.10 0.15 0.03 0.08 0.03 0.06 ... ...

0.80 1.05 0.24 0.49 0.23 0.45 0.01 0.02 0.01 0.01 0.02 0.02 0.04 0.06 0.09 0.09 0.13 0.02 0.03 0.02 0.08 0.04 0.05 0.05 0.14 0.06 0.10 0.04 0.10

0.04 0.16 0.07 0.04 0.02 0.04 0.06 0.02 0.04 0.06 0.12 0.06 0.03 0.02 0.05 0.05 0.21 0.03 0.09 0.01 0.12 0.02 0.05 0.20 0.04 0.09 0.03 0.02 0.04 0.08 0.01 0.01 0.57 0.12 0.05 0.01 0.03 0.20 0.01 0.04 0.13 0.02 0.09 0.07 0.11 0.02 6.12 0.02 0.04 0.04 0.12 0.58 0.09 0.06 0.01 0.90 0.09 0.07 0.09 0.15 0.02 0.03 0.06 0.15 0.15 0.13 0.06 0.06 0.01 0.15 0.07 0.07 0.04 0.02 0.80 0.20 0.01 0.03 0.02 0.04 0.04

STOCK

Philippine Mtl Phoenix Gold Plate Res Platinex Inc Quantum Cobalt Rare Element* Razore Rock Res Red Moon Res Regency Gold Reliant Gold Remington Res Resource Cap Riley Resource Rockland Mnls Rojo Res Rosita Mg Corp Ross River Rover Metals Rubicon Mnrls* Running Fox Rs Sage Gold Sennen Potash Shamrock Ent Shine Minerals Shoshoni Gold Sierra Madre Silver Phoenix Slave Lake Zn Spey Resources Superior Mng Surge Copper Surge Explor Sutter Gold Tearlach Res Themac Res Thunder Mtn Gd Tiger Intl Tintina Mines TomaGold Tri-River Vent Trident Gold Troy Enrgy Trueclaim Expl Upper Canyon Vale* ValOre Metals Vangold Res Vatic Vent Venerable Vent Voltaic Min Westcot Vent Western Troy C Westminster Rs Whitemud Res Worldwide Res Xander Res Xtierra Inc Zanzibar Gold Zara Res Zena Mining Zinco Mng Zincore Mtls

12-MONTH

EXC BID ASK LAST HIGH LOW

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

0.12 0.12 0.08 0.14 0.02 0.02 0.05 0.07 0.03 0.05 0.04 0.08 0.06 0.06 0.04 0.10 ... ...

1.10 3.15 0.11 0.16 0.15 0.89 0.06 0.20 0.09 0.11 0.06 0.08 0.06 0.12 0.13 0.13 0.20 0.23 ... 0.02 0.02 0.17 0.24 0.17 0.26 ... ...

0.01 0.05 0.20 0.28 0.20 0.41 0.07 0.08 0.08 0.11 ... 0.19 0.19 0.30 0.03 0.04 0.04 0.08 ...

0.26 0.26 0.26 0.05 0.06 0.07 0.11 ... ...

0.03 1.35 0.02 0.03 0.02 0.03 0.01 0.01 0.02 0.02 0.22 1.00 0.45 0.50 0.02 0.03 0.02 0.07 0.09 ...

0.14 0.16 0.03 0.04 0.03 0.08 0.06 0.20 0.06 0.15 0.18 0.23 0.18 0.22 0.04 0.08 0.06 0.13 0.05 0.06 0.05 0.16 0.07 0.09 0.07 0.10 0.05 0.06 0.06 0.14 0.39 0.44 0.39 0.23 0.01 0.01 0.01 0.02 0.15 0.20 0.20 0.28 0.06 0.06 0.06 0.09 ... ...

0.17 0.17 0.06 0.12 0.06 0.17 0.03 0.08 0.05 0.08 0.06 0.06 0.05 0.08 ... ...

0.04 0.15 0.20 0.16 0.18 0.03 0.07 0.03 0.04 0.07 0.08 0.10 0.20 0.75 0.75 0.25 0.39 ... ...

10.24 11.10 0.06 0.07 0.07 0.13 0.05 0.05 0.04 0.14 0.10 0.10 0.10 0.19 0.06 0.20 0.06 0.13 0.19 0.20 0.26 0.28 ... ...

0.35 0.06 0.15 0.10 0.10 0.04 0.05 0.05 0.14 0.01 0.02 0.01 0.03 0.03 0.03 0.03 0.07 0.16 ...

0.09 0.14 0.05 0.06 0.05 0.08 0.14 0.14 0.16 0.32 ... ...

0.07 0.22 0.05 0.07 0.05 0.09 0.05 0.07 0.05 0.03 0.05 0.05 0.09

0.04 0.04 0.03 0.03 0.20 0.06 0.06 0.01 0.14 0.16 0.01 0.15 0.01 0.10 0.03 0.10 0.03 0.03 0.01 0.01 0.45 0.02 0.08 0.03 0.06 0.03 0.06 0.04 0.06 0.04 0.03 0.01 0.03 0.03 0.14 0.04 0.02 0.04 0.14 0.01 0.07 0.17 6.57 0.07 0.03 0.06 0.06 0.13 0.03 0.03 0.01 0.02 0.03 0.03 0.10 0.07 0.05 0.03

2019-07-02 8:12 PM

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2019-06-26 3:56 PM