The Northern Miner June 13 2016 Issue 18

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JUNE 13-19, 2016 / VOL. 102 ISSUE 18 / GLOBAL MINING NEWS · SINCE 1915 / $3.99 / WWW.NORTHERNMINER.COM

Champion Mines optimistic at Bloom Lake

Rye Patch scoops up Florida Canyon

IRON ORE

| Operating costs improve by a dollar for every 1% increase in recoveries

NEVADA GOLD

| Moving forward with a2012_Pro_TH_PC pit SMSJ_Sept extension Mobile Equipment for Safety and Productivity

BY MATTHEW KEEVIL

Re-LVANCOUVER ocated to a 50,000 sq.ft. PLant! mkeevil@northernminer.com

R

ye Patch Gold (TSXV: RPM; US-OTC: RPMGF) is buying the venerable Florida Canyon heap-leach gold mine in Pershing County, Nev., out of receivership after its previous owner, Jipangu of Japan, ran into debt problems.

Rye PatchSMSJ_Sept will2012_Pro_TH_PC pay US$15 million SMSJ_Sept 2012_Pro_TH_PC in cash and 20 million shares to the Equipment forCanyon creditorsMobile at closing.

Florida Safety and Productivity is a fully permitted operation that has in continuous Re-Lbeen ocated to a 50,000 sqproduction .ft. PLant! since 1986, but now only produces residual gold from material on existing pads.

The company plans to redevelop the site — including building a heapleach pad and waste-storage facility — to commercially mine a planned expansion of the Florida Canyon orebody by early 2017.

“We’ve visited the operation several times, and it’s similar geologically to the projects we have been working on in Nevada. We had the Authorized opportunity sort of fall in our lap Landcruiser due toToyota the receivership,” Rye Patch

Members of the media tour Champion Iron Mines’ Bloom Lake iron ore project site last month in Newfoundland’s Labrador Trough. CHAMPION IRON MINES

BY SALMA TARIKH starikh@northernminer.com

C

hampion Iron Mines (TSX: CHM; US-OTC: CPMNF) See RYE PATCH / 2 is lowering projected costs at the recently acquired Bloom Lake iron ore mine in the Labrador Trough, as part of a plan to restart Authorized Authorized the operation when prices for the Toyota Landcruiser Toyota Landcruiser Dealer steelmaking metal improve.

Dealer Champion — led by Australian mining tycoon Michael O’Keeffe — closed the $10.5-million acquisition of the Bloom Lake assets and the INTRODUCING THE NEWEST Quinto claims on April 11, four months after its subsidiary, QueMID-RANGE UTILITY VEHICLE bec Iron Ore, agreed to buy them from affiliates of Cliffs Natural INTRODUCING THE NEWEST Resources (NYSE: CLF).

MID-RANGE UTILITY VEHICLE Since then, Champion has identified potential improvements at the high-grade iron ore mine.

The cost reductions aren’t finalized, but will improve mining, proFIVE TON cessing and transportation costs, FIVE TON O’Keeffe said in a June 6 interview.

FIVE YEAR WARRANTY FIVE YEAR WARRANTY The company is seeking tenders Sales Service a mine plan that would Sales && Rental Rental && Service ServiceSales & Rental to &finish Phone: Phone: (705) (705) 476-4500 476-4500 Phone: (705) 476-4500 Email: Email: mtsales@millertechnology.com mtsales@millertechnology.com lower the stripping ratio. The new Email: mtsales@millertechnology.com Website: Website: www.millertechnology.com www.millertechnology.com Dealer

x 5 x 5 55

Website: www.millertechnology.com

Sales & Rental & Service Phone: (705) 476-4500 Email: mtsales@millertechnology.com Website: www.millertechnology.com

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Michael O’Keeffe, Champion Iron Mines chairman and CEO.

plan would also expand annual production to over 7 million tonnes of iron fines at 66% Fe, from 6 million tonnes previously. It's also seeking tenders to upgrade the plant and improve recoveries to 80%, from Cliffs’ 68%.

Expected operating costs should improve by a dollar for every 1% increase in recoveries, O’Keeffe said.

Cliffs, he added, knew the processing plant that it acquired was designed “incorrectly” and planned to fix the recovery circuit in its costly phase-two expansion, as it

could not afford to stop production due to its take-or-pay agreement.

“There is a huge amount of work done, and all the information is there to understand how the recoveries could get to 80% plus, and that was being implemented in phase two. All we’ve done is taken that plan and brought it back to phase one to say, ‘OK, we can stop and fix the circuit to get the recoveries where they should be,’” O’Keeffe said.

The quotes for the required work should be back in late June, with board approvals from Quebec Iron Ore and Champion to follow in July.

Once approved, O’Keeffe expects consultants will take until year-end to complete the mine plan and processing work. After that, the company will have a good idea of the required capital and cost structure to get Bloom Lake back online.

“We need to see a consistent iron ore price — above US$50 per tonne — (before) we can have the confidence to press the button and begin all the work,” O’ Keeffe said.

PM40069240

See CHAMPION / 2

DYNACOR: MAKING PROGRESS IN PERU / 16

2016-06-07 8:06 PM

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JUNE 13–19, 2016 / THE NORTHERN MINER

Champion Mines optimistic

Rye Patch Gold’s Florida Canyon gold mine in Nevada. RYE PATCH GOLD

Rye Patch RYE PATCH From 1 A mill at Champion Iron Mines’ Bloom Lake iron ore project in Newfoundland’s Labrador Trough. CHAMPION IRON MINES

Visitors near a truck fleet at the Bloom Lake iron ore project. CHAMPION IRON MINES CHAMPION From 1

Previous owner Cliffs paid $4.9 billion to buy the mine from Consolidated Thompson Iron Mines in 2011, when iron ore prices peaked at US$190 per tonne, before plunging below US$40 per tonne in December 2015. (Prices have since recovered to just below US$50 per tonne.)

Amid the slump in prices, in 2014 Cliffs took a $5.7-billion writedown for the acquisition and lost a proxy fight with activist hedge fund Casablanca Capital. The activist urged Cliffs to sell its Australian and Eastern Canadian iron ore assets, including Bloom Lake.

At the end of 2014, Cliffs halted production, after it failed to secure equity partners to complete Bloom Lake’s $1.2-billion, phase-two expansion to increase production and

trim costs.

In January 2015, it placed Bloom Lake and its other Canadian assets into creditor protection. At yearend, Champion’s Quebec Iron Ore subsidiary signed an agreement to buy the assets. It also became responsible for environmental reclamation liabilities, amounting to $41.7 million, and the replacement of certain bonds, totalling $1.1 million.

Quebec’s Superior Court approved the transaction in January.

A month later, Ressources Québec, a subsidiary of Investissement Québec, agreed to invest $14 million in Quebec Iron Ore. As a result, it holds 36.8% of the subsidiary, with Champion holding the rest.

Quebec Iron Ore has $20 million in the bank, with O’Keeffe noting that Bloom Lake’s care and maintenance activities amount to $1.2

Public Auction

Silver Concentrate Prince Rupert, British Columbia Under the Warehouse Lien Act of the Province of British Columbia, Quickload CEF Inc., doing business as Quickload Logistics, claims a lien against 105 Super Sacks, each with a capacity of 1.5 metric tons, containing silver concentrate (the “Goods”), located at Quickload’s warehouse at #1 Regina Road, Prince Rupert, British Columbia, owned

by CMC Metals Ltd. and deposited at Quickload’s warehouse by Can-Ship Overseas Inc. between November 27 and 29, 2012. This lien is claimed in respect of arrears of storage fees and other charges in relation to the Goods.

The Goods will be sold at an online public auction, to be held from June 20, 2016 at 8:30 AM PST to July 20, 2016 at 1 PM PST. The auction is open to qualified bidders only. In order to qualify, prospective bidders must send a short description of their organization and contact information to operations@quickloadlogistics.com. Applications to qualify will be accepted until 5 PM PST on Friday, June 17, 2016.

Qualified bidders will receive a tender package including an assay of the Goods, but bidders are encouraged to satisfy themselves of the quality of the Goods. Site visits and opportunity to sample the Goods will be made available to qualified bidders upon request. Quickload does not offer any warranty regarding the quality of the Goods.

The contact information for submission of bids will be included in the tender package sent to qualified bidders. No bids will be accepted after 1 PM PST on Wednesday, July 20, 2016. The auction results will be announced on Thursday, July 21, 2016 at 3 PM PST. Quickload reserves the right to reject any bid.

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million a month.

Champion also raised $30 million in a private placement to fund the Bloom Lake transaction and provide working capital, as well as funds to cover its share of the mine’s maintenance costs. It has $15 million on hand.

The executive reveals he became interested in Bloom Lake in 2014 due to the quality of the material and uniqueness of the asset.

“The Labrador Trough has high-grade and very clean iron ore, 66% Fe, and very, very low diluents, especially phosphorous and alumina,” he says, adding Champion has already received interest for the product, particularly from Japan.

O’Keeffe became Champion’s chairman in August 2014, after it merged with his firm, Mamba Minerals. He took on the CEO role later that year. The former Glencore executive is best known for developing coal junior Riversdale Mining, once valued at A$7 million, into a firm that Rio Tinto (NYSE: RIO) bought in 2011 for A$3.9 billion.

Bloom Lake sits near Champion’s Fire Lake North iron ore project. It also broadly benefits from Quebec’s Plan Nord to help develop the province’s north.

The Quebec government has granted $20 million for the feasibility study of a rail linking the Fire Lake and Bloom Lake area to the port of Sept-Îles. The study should be completed later this year. TNM

president and CEO William Howald said during an interview.

“The operation has been in production for quite some time, and the previous operators had moved ahead and permitted the next heapleach pad. We’re moving forward with building the infrastructure, and it’s basically an extension of the current pit. We’ll be mining the same rock and working with the recovery processes that have been effective for the past 30 years,” he added.

Rye Patch hired Mine Development Associates to complete a preliminary economic assessment of Florida Canyon as part of its due diligence on the acquisition, and the study models a mine that would crank out 75,000 oz. gold annually over an eight-year mine life.

The study indicates pre-production capital of US$29 million and operating costs of US$759 per oz. gold.

The capital figure includes US$5.8 million for mining equipment and deferred maintenance; US$2.7 million for a crusher upgrades; US$7.2 million for the new leach pad, pond and piping construction; and US$3.8 million in contingency.

Florida Canyon hosts measured and indicated resources of 76 million tonnes grading 0.37 gram gold per tonne for 1.13 million contained oz. gold. The project also has an early-stage sulphide resource of 6.4 million tonnes at 1.56 grams gold for 391,000 contained oz. gold.

“There are definitely orphan holes that hint at potential oxide upside north and south of the main deposit,” Howald said. “The other thing I find exciting is the sulphide blanket beneath the oxides. There aren’t a lot of drill holes down there, but it has potential, and similar orebodies in Nevada have proven amenable to a flotation circuit.”

Rye Patch figures it could get Florida Canyon back to significant production levels within six months, with a mine that would feature a US$49-million, after-tax net present value at a 7.5% discount rate, and a 34.4% internal rate of return.

The company’s base case assumes a US$1,000 per oz. gold price in the first two years, and a US$1,150 per oz. gold price over the remaining six years of operation.

To fund the pre-production capi-

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tal, Rye Patch signed a commitment letter for a US$27-million credit facility with Macquarie Bank at an annual interest rate of LIBOR, plus 8%. The company must also close an equity financing of at least US$30 million by late July to complete the acquisition.

On June 2, Rye Patch announced a private placement, wherein it could raise up to $50 million. The bestefforts financing involves 182 million subscription receipts priced at 22¢ apiece for gross proceeds of $40 million. The company granted its agents an option, however, to sell another 45.5 million receipts for $10 million.

Each receipt would entitle the holder to receive one Rye Patch share when all conditions of the Florida Canyon deal are met.

“Our main goal is really to get the mine up and running, and generate sustainable cash flow,” Howald said. “We’re hitting the market just perfectly because we know our business is cyclical, and I believe we’ve passed the bottom here. Once we have production early next year we can look at the sulphide potential and the oxide targets along trend.”

Rye Patch views the deal as a regional consolidation, since it already holds 110 sq. km along the prolific Oreana gold trend.

Florida Canyon sits halfway between Lovelock and Winnemucca, Nev.; and 30 km north of the company’s Wilco, Lincoln Hill and Gold Ridge projects.

Lincoln Hill has been the most advanced-stage project in the portfolio. It hosts a high-grade, gold-silverquartz-pyrite-tourmaline-sericite stockwork vein system overprinting a “large low-to-moderate grade disseminated replacement precious metal mineralizing system.”

Rye Patch also holds a 3.4% net smelter return royalty (NSR) over all gold and silver ounces at Coeur Mining’s (NYSE: CDE) nearby Rochester mine. The royalty is capped at 39.4 million equivalent oz. silver, which the company says should sustain the royalty payments through 2018.

“Our royalty position allowed us to be players in the game during the downturn, and this is really a transformative event for our company,” Howald said. “We’ve been advancing Lincoln Hill towards production in early 2019, and so Florida Canyon fits nicely into that corporate strategy. Now we’ll generate cash flow quickly, and that will really allow us to drive our regional project portfolio. It’s also a game changer due to the potential infrastructure synergies of the on-site assay lab and experienced mining team.”

Rye Patch shares have traded in a 52-week range of 11¢ to 28¢, and closed at 27¢ per share at press time.

The company has 144 million shares outstanding for a $139-million market capitalization, and reported US$6.1 million in income from its Rochester NSR in 2015. TNM

2016-06-07 8:06 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / JUNE 13–19, 2016

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Zafranal could produce copper for 19 years, study says PERU

| Teck, AQM Copper and Mitsubishi outline US$496M post-tax NAV and 15.9% IRR

Teck Resources, AQM Copper and Mitsubishi Materials’ Zafranal copper-gold project in southern Peru. AQM COPPER

TRISH SAYWELL

A

tsaywell@northernminer.com

positive prefeasibility study on the Zafranal project — an Andean style porphyry copper-gold deposit in southern Peru owned by Teck Resources (TSX: TCK.A; TSX: TCK.B; NYSE: TECK), AQM Copper (TSXV: AQM) and Mitsubishi Materials — “tees Zafranal up for the next commodity cycle,” Haywood Securities analyst Stefan Ioannou says.

The study envisions a conventional open-pit operation feeding a concentrator over a 19-year mine life for total output of 3.1 billion lb. copper and 484,000 oz. gold.

The concentrate would be trucked 216 km away from the deposit to the Port of Matarani. Zafranal is 80 km from tidewater and 166 km by road from the town of Arequipa.

Initial capex could ring in at US$1.2 billion, with life-of-mine sustaining capital costs of US$263 million. The high sustaining capital costs reflect the purchase of mine equipment in years three and four of production, when the owners would take over the operation of the mine from a contractor.

“It’s pretty straightforward in terms of development,” AQM president and CEO Bruce Turner says in an interview. “We don’t have to relocate any communities, the climate conditions are good and it’s cheap power, compared with Chile. And what makes it a really good project is a near-surface, higher-grade supergene blanket that is 175 million tonnes of 0.6% copper. There is also a favourable mining environment in Peru, despite all the things you hear in the press.”

Using a base case of US$3 per lb. copper and US$1,200 per oz. gold, the study estimates that Zafranal would yield an after-tax net present value of US$496 million at an 8% discount rate, with a 15.9% post-tax internal rate of return and 5.1-year payback.

Production would average 120,000 tonnes per year of copper-in-concentrate over the first five years, falling to 75,000 tonnes per year over the life of the operation. The

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mine plan is designed for a variable feed to a concentrator in the range of 55,000 to 64,000 tonnes per day depending on the mineral type, with a peak total material movement of 75 million tonnes per year. The mine is scheduled to run 365 days per year.

Average mine-site production costs would come to US$1.29 per lb. copper from plant feed material processed, including mining, rehandling, milling and flotation.

Average C1 operating costs for the 19-year mine life total US$1.59 per payable lb. copper net of transport losses and smelter deductions.

Teck, which discovered Zafranal in 2003, owns 50% of the jointventure project. The other 50% is owned by Minera AQM Copper Peru, of which AQM Copper owns 60% and Mitsubishi Materials Corp. holds the rest.

Turner, who joined AQM in 2009, described the study as a milestone.

“We’ve gone through the whole process of exploration and putting together drill plans, and it has culminated in publishing the prefeasibilty study,” he says. “It’s well thought out, it’s built for purpose, it’s robust, it’s got examples of the designs that work well in Peru … unfortunately markets haven’t been particularly kind, so it’s been more difficult than expected, but we’ve done what we said we’d do, which is put together a solid development scenario for this project.”

Turner also notes that the study was put together by a group of consultants, including Ausenco Peru, which also worked on HudBay Minerals’ (TSX: HBM; NYSE: HBM) Constancia project — another copper porphyry project in southern Peru.

The current Zafranal concentrator design is a built-for-purpose plant.

It has few overhead cranes, no roof or walls, and it’s an open building.

The mine design proposes two contiguous pits with a combined 3.5 km strike length, a maximum 1 km width and a maximum 456-metre depth.

The operation’s primary crusher would be next to the mine on the opposite hillside of the valley just south of the main zone open pit,

“WATER IS ALWAYS THE BIGGEST CHALLENGE IN PERU. EITHER YOU’VE GOT TOO MUCH OF IT, OR YOU DON’T HAVE ENOUGH.” BRUCE TURNER PRESIDENT AND CEO, AQM COPPER

at a base elevation of 2,494 metres above sea level.

Due to the steep topography between the primary crusher and the rest of the concentrator, the conveyor that transfers the crushed ore to the crushed ore stockpile — which feeds the grinding circuit — would pass through a 3.6 km tunnel.

The rest of the concentrator and major facilities such as the crushed ore stockpile would be terraced down a ridge. Other buildings, such as the camp and general administrative buildings, would be located downhill.

AQM describes the layout as “compact, but adequate for the facilities.”

Tailings would be placed 1 km southeast of the concentrator and total 396 million tonnes in time.

AQM, the operator, says that due to the favourable topography in the tailings management facility area, which provides a natural basin for the impoundment, only one embankment would be required initially (in the southwest of the impoundment), with a small embankment required later in the northwest.

Sand cycloned from the tailings would be used to raise tailings embankments as needed.

Zafranal’s measured and indicated resources stand at 467.3 million tonnes grading 0.4% copper and 0.07 gram gold per tonne for 3.9 billion lb. copper and 1.05 million oz. gold, with inferred resources adding 21.4 million tonnes averaging 0.2% copper and 0.06 gram gold for 114 million lb. copper and

0.04 million oz. gold. The resource is based on a 0.2% copper cut-off grade and long-term copper and gold prices of US$3.50 per lb. and US$1,400 per ounce.

The operation would require 410 litres per second of makeup water and AQM says that a brackish-water aquifer within 35 km of the proposed process plant site could satisfy the project’s process water requirements.

The water is unsuitable for human and animal consumption or crop irrigation, and AQM says that test work suggests that the water is suitable for concentrator processing.

“Water is always the biggest challenge in Peru, either you’ve got too much of it, or you don’t have enough,” Turner says. “We’ve located three sources of brackish water at different distances from the plant site, and one of the most promising of these is the aquifer 35 km away, with a large volume of stored water.

We would need 250 million cubic metres over the 19-year mine life, so we think it’s only a small part of what the aquifer contains.”

Much of the next round of work will be completing hydrogeological studies in the areas of tailings management and potential water supply.

As for power, a proposed 96 km transmission line from a substation near Arequipa to a proposed 220 kilovolt substation near the mine’s concentrator would have to be built.

Ioannou of Haywood Securities says in a research note that the study (“vetted by two major partners”), argues well for AQM’s future cash flow, and could turn the junior’s stake in the project into an asset coveted by other mining companies.

“We acknowledge a 15.9% basecase after-tax IRR stands to attract scrutiny in the context of current copper market sentiment,” he says.

“Nevertheless, the project is wellpositioned for expedited development through Teck and Mitsubishi’s involvement.

“While a passive 30% project interest stands to potentially garner significant cash flow for AQM over time, we anticipate the meaningful position will attract attention from potential suitors with a strongerfor-longer copper price outlook,

whether it be the company’s existing partners looking to consolidate a larger share of Zafranal, or other third parties looking for exposure to copper in an established mining jurisdiction.”

When asked to address the Haywood comment, Turner said he didn’t know, but noted that AQM has to do something about funding if it wants to finish a feasibility study.

“Raising money in this market is difficult and it’s dilutive for juniors, so we’ll look at all options, and our partners are looking at their options, as well.”

Turner said it is possible the project will be ready for the next commodity cycle, given that the company is looking at turning out its first concentrate in 2021, although admittedly, “a lot of things can get in the way” before that.

“I don’t think things are going to get much better in the copper space until the end of next year, and I don’t think the recovery will be quite as dramatic as you would have experienced earlier. There will be an increase in price and that will gradually improve over the following years, so us coming on in that market is good. Most of our higher-grade copper is in the first six years, so if we continue with higher copper prices this project will do very well.” TNM

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Northern Superior loses case in Ontario DUTY TO CONSULT

GROUP PUBLISHER/ PUBLISHER: Anthony Vaccaro, CFA, MBA avaccaro@northernminer.com EDITOR-IN-CHIEF: John Cumming, MSC (GEOL) jcumming@northernminer.com EDITOR, SPECIAL PROJECTS: Alisha Hiyate, BA (POLI SCI, HIST) ahiyate@northernminer.com SENIOR STAFF WRITER: Trish Saywell, BA, MA, MSC (JOUR) tsaywell@northernminer.com WESTERN EDITOR: Matthew Keevil, BA (ECON AND POLI SCI) mkeevil@northernminer.com STAFF WRITERS: Lesley Stokes, BSC (GEOL) lstokes@northernminer.com Salma Tarikh, BSC (PSYCH), MA (JOUR) starikh@northernminer.com COPY EDITOR: Isa Cunanan, BSC (Health Sci. and Prof. Writing Comm.) icunanan@northernminer.com PRODUCTION EDITOR: David Perri, BA dperri@northernminer.com WEB EDITOR: Adrian Pocobelli, MA (ENGL) apocobelli@northernminer.com ADVERTISING: Joe Crofts (416) 510-6816 jcrofts@northernminer.com Michael Winter (416) 510-6772 mwinter@northernminer.com PRODUCTION MANAGER: Jessica Jubb (416) 510-5213 jjubb@glacierbizinfo.com CIRCULATION/CUSTOMER SERVICE: Laura Arnold (416) 510-6789, ext. 43564 (Toll free) 1-888-502-3456 northernminer2@northernminer.com SUBSCRIPTION SALES: Dan Bond (416) 510-6741 (Toll free) 1-888-502-3456, ext. 43715 dbond@northernminer.com REPRINTS: (416) 510-6768 moliveira@northernminer.com ADDRESSES: Toronto Head Office: 38 Lesmill Road, Unit 2 Toronto, ON, M3B 2T5 (416) 510-6768 tnm@northernminer.com Western Bureau: 303 West 5th Avenue Vancouver, BC, V5Y 1J6 (604) 688-9908 SUBSCRIPTION RATES: Canada: C$120.00 one year; 5% G.S.T. to CDN orders.

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| Burden falls on miners

A

long-simmering legal case revolving around the duty to consult in Ontario’s Mining Act has been resolved, with plaintiff Northern Superior Resources having its action against the province of Ontario in Ontario’s Superior Court of Justice dismissed.

If you’ll recall, Northern Superior

BY JOHN CUMMING jcumming@northernminer.com Resources is a Sudbury-based junior mineral exploration company that has spent the last couple of decades looking for gold in Ontario and Quebec.

The claims at the heart of the court case — named Rapson Bay, Meston Lake and Thorne Lake — were staked by Northern Superior between 2005 and 2007 in the Red Lake Mining Division located 740 km northwest of Thunder Bay, with an eye to their gold potential.

As the judge lays out in detail in the decision, the initial exploration results were good, but in 2009, with financing in short supply during the global recession, Northern Superior had to bring in a partner with some ready cash. Junior explorer International Nickel Ventures stepped in and agreed to spend $1.5 million on exploration over four years to get a 50% interest in Thorne Lake.

Relations between Northern Superior and the local Sachigo Lake First Nation appear to have started out on a good footing in 2005, with the aboriginal community agreeing to exploration drilling in the nearby Ellard Lake region in return for the company hiring First Nations members, using First Nations suppliers where possible, renting a camp on First Nations land, working around moose-hunting season, and other related benefits.

In 2008, Northern Superior and the First Nation cooperated again on a similar but more detailed agreement for areas that included parts of Ellard Lake, Rapson Bay and Thorne Lake.

It was in 2009 that things got more complicated, as Ontario’s Ministry of Northern Development and Mines (MNDM) began what it called a “transitional approach” to more fulsome consultation with and between First Nations communities and the mining sector. Thereafter, every time Northern Superior staked a claim, the MNDM would send the company a letter advising it to consult the local First Nation involved, and would send the First Nation a similar notification. The government said it did this to encourage engagement between the parties.

Northern Superior continued to have good relations with the Sachigo Lake First Nation, which offered to be the default contact for Northern Superior for all First Nations in the area. In contrast, the Kitchenuhmaykoosib Inninuwug (KI) First Nation — better known for its acrimonious dispute with Platinex Inc. — approached Northern Superior in 2009 and said that it did not want the company staking more claims east of Thorne Lake.

But Northern Superior seemed to take Sachigo Lake’s assurances that KI was on board with an exploration program, and on this basis went ahead with the option agreement with International Nickel.

This option agreement ended in 2011, and Northern Superior rebounded with more aggressive exploration at Meston Lake and Rapson Bay, and established another agreement with Sachigo Lake.

Positive drill results at Rapson Bay were announced in January 2012.

But no more work was ever done on the properties, as relations between Northern Superior and Sachigo Lake broke down when the two groups argued over payments of invoices and approvals for various work programs on the ground.

Meanwhile the company needed to spend money on exploration to keep its claims valid, though it could apply for a delay in meeting those obligations due to special circumstances. Northern Superior did so, and was granted an extension.

With no further progress after that, Northern Superior blamed the provincial government for not meeting its own duty to consult in the matter and demanded compensation for its loss by the provincial government. Thus the lawsuit was born.

“To put it simply,” the judge writes in the dismissal, “Northern Superior cannot reasonably expect to be compensated by the Crown, which was never directly involved in its relationship with Sachigo Lake First Nation, and who it contacted only for the purpose of seeking compensation. When, in response to the Crown’s offer to facilitate meetings with Sachigo Lake First Nation or to employ the as-yet unproclaimed amendments to the Mining Act, Northern Superior walked away, it gave up any possibility of succeeding in an action before the court, regardless of the cause of action.”

In other words, it’s up to mining companies to foster good relationships with local First Nations near their mineral projects in Canada. And if they can’t pull that off, don’t bother running to the government for a bailout. TNM

O P- E D The birth of Smithers Exploration Group's annual golf tournament ODDS ‘N’ SODS

| Fostering camaraderie among explorers and local communities since 1972

BY LESLEY STOKES

E

lstokes@northernminer.com VANCOUVER

xploration in northwestern B.C. was firing in 1972, and many explorers used services out of the small community of Smithers, British Columbia. This group included Nick Carter, who was with the B.C. Department of Mines and Petroleum Resources at the time, and Tom Schroeter, a geologist with Amoco Minerals.

The pair were enjoying a round of golf in town during a muchneeded break from exploration work when they hatched a plan to organize a golf tournament to celebrate the end of a busy field season.

“The lure of the event was to involve the community in Smithers so they could understand what exploration was all about and meet the people who were involved,” Schroeter tells The Northern Miner over lunch in a downtown Vancouver pub. “It was open to anybody who wanted to attend, and possibly win some great prizes the local suppliers had donated.”

On the day of the tournament, Schroeter was stuck on a drill job in the Babine swamps and had given up all hope in making the event, when a helicopter landed and the pilot signalled for him to come on board.

He was immediately transported to Smithers where he joined the small group of golfers, which included Carter, Paul Plicka, Gerry Auger, Merv Tew and Jim Gunn.

He notes the nine-hole golf course featured sand greens, known as ‘browns,’ whereby contestants smoothed out their line of putt by using pieces of carpet attached to 2-by-4 handles, and did whatever they had to do to get the ball moving.

Schroeter explains that Tew had made a “unique trophy” with an empty bottle of Hennessy cognac flanked by two empty cans of Uncle Ben’s beer perched on top of a wood base. Plicka came in first place, ranked by a modified “Callaway Handicap System,” whereby the person with the lowest net score won.

Word of the tournament quickly spread around the exploration community, and in 1973 the

number of golfers increased to 25, among others who attended the “derailment” party at the Devil’s Web — a local hot spot.

While the camaraderie between explorers reached new heights, the future for the industry began to diminish, as the New Democratic Party government took its toll on exploration and mining in the province. Schroeter changed jobs and became the district geologist for northwest B.C. with the B.C. Department of Mines and Petroleum Resources based in Smithers, alongside Carter, who was his boss based in Victoria.

At the time, they recognized that something needed to be done to keep the industry in the northwest parts of the province moving.

They decided to form the Smithers Exploration Group (SEX) — later changed to the acronym SEG in 1995 — to help educate the public about mining and exploration for the sustainability and economic well-being of northern communities.

(To this day, the SEG has grown to offer field trips, short courses, conferences and numerable social events. It also publishes an annual exploration and mining directory list, which is considered the gold standard for industry directories in B.C., and can be found at www. smithersexplorationgroup.com).

In 1974, perseverance paid off and the tournament grew to 52 participants, but attendance the next year wasn’t as prolific, as exploration activity in the region waned.

Only 15 “hearty souls” made it to the event, including one geologist who “ambitiously set out to win it all,” Schroeter says.

“We wanted to keep the tournament fun and fair, so we were careful to ensure talented players were handicapped by being placed with ‘boisterous’ teammates that offered plenty of distractions,” he laughs, pointing to the glass of beer beside him. “Later that day, this particular individual was seen strapped to his golf cart and later to a tree outside the clubhouse just to keep him propped up — it was like a scene out of Weekend at Bernie's. Needless to say, he not only didn’t win, he didn’t even finish!”

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by BIG Mining L.P., a division of Glacier Media Inc., a leading Canadian media company with interests in business-to-business information services. From time to time we make our subscription list available to select companies and organi­zations whose products or services may interest you. If you do not wish your contact information to be made available, please contact us by one of the following methods: Phone: 1-888-502-3456; Fax: (416) 447-7658; Mail to: Privacy Officer, The Northern Miner, 38 Lesmill Road, Unit 2, Toronto, ON M3B 2T5.

1 2 3 4 5 7 8 9 14 16_JUN13_Main .indd 4

Albemarle. . . . . . . . . . . . . . . . . 9 Altura Mining. . . . . . . . . . . . . 10 AQM Copper. . . . . . . . . . . . . . 3 Bacanora Minerals. . . . . . . . . . 8 Barrick Gold. . . . . . . . . . . . . . 10 Bear Creek Mining . . . . . . . . 16 Canadian International Minerals. . . . . . . . . . . . . . . . . 8 Champion Iron Mines . . . . . . 1 Cliffs Natural Resources. . . . . 1 Coeur Mining. . . . . . . . . . . . . . 2 Dynacor Gold Mines. . . . . . . 16 First Quantum Minerals. . . . 16 FMC. . . . . . . . . . . . . . . . . . . . 7,10 Galaxy Resources. . . . . . . . . . 10 General Mining. . . . . . . . . . . 10

Glencore . . . . . . . . . . . . . . . . . . 2 Hochschild Mining. . . . . . . . 16 Hudbay Minerals. . . . . . . . . . 16 Iamgold. . . . . . . . . . . . . . . . . . 10 Jiangxi Ganfeng Lithium . . . 10 Latin American Minerals . . 10 MMG. . . . . . . . . . . . . . . . . . . . 16 Minas Buenaventura. . . . . . . 16 Mineral Resources. . . . . . . . . 10 Mitsubishi Materials. . . . . . . . 3 Nemaska Lithium . . . . . . . . . . 8 Neometals. . . . . . . . . . . . . . . . 10 Noram Ventures. . . . . . . . . . . . 8 Orocobre. . . . . . . . . . . . . . . . . 10 Panoro Minerals. . . . . . . . . . . 16 Patagonia Gold. . . . . . . . . . . . 10

Pilbara Minerals. . . . . . . . . . . 10 Posco. . . . . . . . . . . . . . . . . . . 9,10 Pure Energy Minerals. . . . . . 7,9 Rare Earth Minerals . . . . . . . . 8 RB Energy. . . . . . . . . . . . . . . . . 7 Rio Tinto. . . . . . . . . . . . . . . . . . 2 Rye Patch Gold. . . . . . . . . . . . . 1 Sichuan Tianqi Lithium Industries. . . . . . . . . . . . . . . 10 Sociedad Quimica y Minera de Chile . . . . . . . . . . 8 Southern Copper. . . . . . . . . . 16 SQM. . . . . . . . . . . . . . . . . . . . . . 7 Tenova Bateman Technologies. . . . . . . . . . . 9,10 Tesla Motors. . . . . . . . . . . . . . . 9

A trophy for the tournament champions in 1974. PHOTO COURTESY OF TOM SCHROETER

2016-06-07 8:06 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / JUNE 13–19, 2016

5

Participants at the first annual golf tournament in 1972, from left: Nick Carter, Paul Plicka, Tom Schroeter and Merv Tew. PHOTO COURTESY OF TOM SCHROETER

Tom Schroeter helps level out the course for golfers in 1980. PHOTO COURTESY OF TOM SCHROETER

Challenges along the course in 1979. PHOTO COURTESY OF TOM SCHROETER

He continues that “one of the other contestants lost his pants somewhere along the course, but he was wearing the biggest grin, and that’s what mattered most.”

By 1976, a new pro-mining government was in place in B.C. and the event f lourished once more, rising to 30 golfers and a number of spectators. Weaving through the lively crowd was a horse loaded with saddlebags full of “liquid refreshments,” Schroeter adds.

“The night before the tournament we went to the hotel, which had strippers at the time. There was a performing lady there called ‘Venus Angel,’ and we all joked that it would be neat if we invited her to be the ‘queen of the golf day.’ A few minutes later, an older gentleman in our group got up and said he was going to go ask her, but we didn’t think much of it. The next day, I was the first to arrive at the course when I see a car coming down the road.

As they got closer I could see the older gentleman behind the wheel, on his far side is Venus Angel, and wedged in between them — could you imagine — is his wife. It was just hilarious,” he says.

Schroeter recalls another participant in 1977 who flew to Smithers in a plane he rented in Vancouver, which had a huge shark jaw painted on the front. He buzzed the crowd before the game started and eventually took his place as one of the contestants.

One of his teammates arrived late — he had been out staking claims down by Houston, a “nice molybdenum target,” Schroeter adds, but never finished the staking because “he wanted to come back early and play some golf.”

“Wayne and his crew were toting their golf clubs still dressed in their cruiser vests, with red claim tags hanging out of their pockets,” he says. “But the real story began after the game when we were walking together to the nightclub. Out of nowhere two patrol cars convened upon us and said they were taking us to the station for interrogation.”

The officers suspected the group had vandalized a school bus, which happened to be in the same vicinity where they were walking.

“Wayne insisted they record every claim tag number in their pocket because they had to go back the next morning and stake the rest of the claims,” he says. “After we proved we were harmless, we finally left the station at 2 a.m. So Wayne couldn’t resist naming one of the claim groups ‘Jailbird.’”

In 1982, J.T. Thomas Drilling hosted a champagne breakfast for participants and other locals, which Schroeter says got everyone

1 2 3 4 5 7 8 9 14 16_JUN13_Main .indd 5

“geared up for the day.” (This annual event continued until 2001, when Hy-Tech Drilling took over hosting the event.)

The same year, Bob Karrer created a new trophy for the annual golf tournament, made out of various pieces of drilling equipment that included a drill bit and wrench, mounted on a steel base.

“It took 38 hours of welding to create this masterpiece, and it certainly caught the attention of everyone, including staff and members of the golf club,” he recalls.

The original tournament winner trophy, Schroeter says, provided a “fitting award” to honour the late Gerry Auger, given to the participant “who had the most fun.”

In the late-1980s, exploration was booming and attendance at the event flourished. Prizes were offered under a number of categories, including relapse recovery, loudest participant, best costume, “too” much fun and whoever had the longest club throw.

In 1995, a brand new clubhouse greeted the participants, including miners from the new high-grade gold-silver Eskay Creek mine. The clubhouse offered a dry reprieve the following year, which happened to be held on one of the coldest and wettest days they had seen in quite some time.

“It was our largest turnout, with 95 people,” he says. “The new, warm and dry clubhouse was certainly appreciated that year. Many prizes were awarded and everyone nailed it at karaoke.”

Schroeter says that aside from weather, nature had other ways of dealing “unexpected” challenges to contestants.

“There was a cheeky fox who kept stealing golf balls one year,” he says.

“He would hunch down near the green, run out, grab the ball and take off. Lord knows why,” he laughs.

“The crows were known to steal the golf balls, but this fox posed a whole

“ONE OF THE OTHER CONTESTANTS LOST HIS PANTS SOMEWHERE ALONG THE COURSE, BUT HE WAS WEARING THE BIGGEST GRIN, AND THAT’S WHAT MATTERED THE MOST.” TOM SCHROETER CO-FOUNDER, SMITHERS EXPLORATION GROUP

new problem.”

In 2012, the Joyce Warren Memorial Award was instituted to recognize her contributions and commitment to ensuring a successful golf tournament.

Schroeter explains that Warren was an integral part of the exploration business, providing expediting services for companies in the north since the mid-1970s.

The initial recipients of this award were Schroeter and Carter in recognition of their dedication, enthusiasm, energy and high spirits in making the annual tournament a success.

Schroeter says that between 1972 and 2015, over 2,500 people have participated in the golf tournaments, with another 650 people attending the festivities. He notes that anyone involved or interested in mining in B.C. can still participate in this mid-September event hosted by the SEG in Smithers.

In April 1973, April 1974 and May 1992, the mining communities of Victoria, Kamloops (hosted by Kamloops Exploration Group) and Vancouver (hosted by the Association of Mineral Exploration B.C.) initiated golf days for the same purposes as the Smithers’ tournament.

— Written with the assistance of Tom Schroeter and Nick Carter. TNM

Golfers at the J.T. Thomas Drilling Champagne breakfast in 1983: John Baker (left) and Jim Thomas (far right). PHOTO COURTESY OF TOM SCHROETER

The new trophy in 1982. PHOTO COURTESY OF TOM SCHROETER

Golfers in 1987, from left: Doug Falcher, Tom Schroeter, Nick Carter and Vim Gunn.

Doug won the “best dressed” award. PHOTO COURTESY OF TOM SCHROETER

GOLD PROPERTY FOR SALE — YUKON Aurchem Exploration Ltd. a Yukon based company holds 180 quartz claims, ~9000 acres, in the Mt.Nansen gold mining area, near Carmacks,YT. Recently discovered high grade area, the “Vic Project” (totally 93 claims) with gold concentrations averaging 70g/t as high as 325g/t with estimated resource value of 80,000 oz.

Interested? Call 867-333-3888.

Participants at the 24th annual golf tournament in 1995. PHOTO COURTESY OF TOM SCHROETER

2016-06-07 8:06 PM

6

WWW.NORTHERNMINER.COM

JUNE 13–19, 2016 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / MAY 30–JUNE 3 The S&P/TSX Composite Index rose nearly 0.9% to close at 14,226.78, up 20% from its Jan. 20 low, and marking a return to a bull market. The S&P/TSX Global Mining Index jumped 6% to 57.97, while the S&P/TSX Capped Diversified Metals & Mining Index climbed 5.1% to 537.81. The S&P/TSX Global Gold Index surged 12.6% to 230.04. Spot gold added US$30.70 to finish at US$1,243.50 per oz. gold.

The higher gold price helped lift gold companies. Royal Gold advanced US$7.91 to US$79.68 per share. On June 2, the precious metals royalty and streaming firm promoted Mark Isto to vice-president of operations, effective July 1, 2016. Isto worked for Placer Dome, Kinross Gold and First Nickel, before joining Royal Gold as an executive director of project evaluation in 2015. A day later, the company held a webcast for its analyst and investor day.

The presentation highlighted Royal Gold’s long-life assets, including Pueblo Viejo in the Dominican Republic, Mount Milligan in B.C. and Andacollo in Chile.

Detour Gold shares climbed $4.54 to $29.69 per share, despite a negative outcome regarding an ongoing criminal investigation. On May 31, the company said it was charged the day earlier, along with three site employees, with offences under the Oc-

cupational Health and Safety Act relating to the death that occurred at the Detour Lake mine on June 3, 2015. The miner believes all the charges related to the fatality have been served, and will review the charges before commenting further.

First Quantum Minerals saw heavy trading after selling the Kevitsa nickel-copperplatinum group metals mine in Finland to Boliden. The company received US$712 million in cash from the sale, excluding working capital adjustments. The transaction closed on June 1. First Quantum shares climbed 23¢ to $9.15 on 28.6 million shares traded.

Cameco fell 9¢ to $15.17 per share, despite announcing that the Canadian Nuclear Safety Commission has approved the expansion of Areva Resources’ McClean Lake mill in TSX MOST ACTIVE ISSUES

Kinross Gold Yamana Gold Barrick Gold First Quantum B2Gold Teck Res Eldorado Gold Torex Gold Goldcorp IAMGOLD

northern Saskatchewan. Cameco uses that mill to toll-treat ore from its nearby Cigar Lake uranium mine. With the approval, Areva can boost the mill’s annual production capacity to 24 million lb. uranium oxide (U3O8) from 13 million lb. This will enable Cigar Lake to reach its 2016 production target of 16 million lb. U3O8, and full production capacity of 18 million lb. in 2017. Cameco owns 50% of Cigar Lake, while Areva, Idemitsu Canada TSX GREATEST PERCENTAGE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

K YRI ABX FM BTO TCK.B ELD TXG G IMG

Resources and Tepco Resources hold the rest.

Champion Iron gained 36.1% to finish at 28¢ per share. On June 2, the company said it is optimistic that it could lower the operating costs at the recently acquired Bloom Lake mine in Quebec. However, it has yet to release details on how it intends to increase recoveries and annual production to lower costs. Champion acquired the iron ore mine on April 11. TNM

43595 6.49 5.43 6.45 + 0.93 37093 6.22 5.22 6.20 + 0.76 29046 24.88 21.41 24.81 + 3.14 28579 9.24 8.19 9.15 + 0.23 23784 2.65 2.28 2.64 + 0.33 22633 13.91 12.08 13.85 + 1.42 20011 6.12 5.35 6.07 + 0.57 17947 2.23 1.78 2.18 + 0.35 16887 23.72 21.36 23.65 + 2.00 15680 4.90 4.05 4.85 + 0.71

Formation Mtls Cdn Zinc Champion Iron Ur-Energy Rubicon Mnrls Trevali Mng Stonegate Agri INV Metals U3O8 Corp Potash Ridge RTG Mining Forsys Metals Verde Potash Energizer Res Luna Gold Dynasty Met&Mn Cardero Res Aura Mnls Lithium Amer Pine Cliff En

FCO CZN CIA URE RMX TV ST INV UWE PRK RTG FSY NPK EGZ LGC DMM CDU ORA LAC PNE

3580 2520 1757 940 15660 11707 580 353 2790 5826 6 488 65 1861 979 861 135 87 3015 9943

0.63 0.26 0.28 0.86 0.08 0.60 0.03 0.65 0.03 0.41 0.68 0.07 0.36 0.10 0.20 0.15 0.17 0.26 0.86 0.70

0.37 0.18 0.18 0.60 0.04 0.43 0.02 0.50 0.02 0.32 0.45 0.06 0.32 0.08 0.14 0.12 0.14 0.23 0.78 0.64

0.57 0.26 0.25 0.84 0.06 0.59 0.03 0.65 0.03 0.40 0.50 0.06 0.32 0.08 0.17 0.13 0.14 0.24 0.80 0.65

TSX GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Franco-Nevada Royal Gold Agnico Eagle Detour Gold Barrick Gold Endeavour Mng Silver Wheaton Pan Am Silver Osisko Gold Goldcorp Suncor Energy RTG Mining North Am Pall Cameco Corp Orocobre Polaris Mater Lithium Amer Verde Potash Eastern Platin Pine Cliff En

+ 54.1 + 37.8 + 36.1 + 35.5 + 33.3 + 32.6 + 25.0 + 25.0 + 25.0 + 23.4 - 26.5 - 15.4 - 13.5 - 11.1 - 10.5 - 10.3 - 9.7 - 7.7 - 5.9 - 5.8

VOLUME WEEK (000s) CLOSE CHANGE

FNV RGL AEM DGC ABX EDV SLW PAA OR G SU RTG PDL CCO ORL PLS LAC NPK ELR PNE

3492 90.13 63 79.68 5072 64.90 5593 29.69 29046 24.81 3297 19.74 7037 26.39 3032 20.06 2033 17.01 16887 23.65 14095 35.60 6 0.50 31 4.85 5475 15.17 692 4.10 35 1.30 3015 0.80 65 0.32 850 1.10 9943 0.65

+ 8.33 + 7.91 + 7.18 + 4.54 + 3.14 + 2.90 + 2.65 + 2.23 + 2.14 + 2.00 - 0.30 - 0.18 - 0.15 - 0.09 - 0.05 - 0.05 - 0.05 - 0.05 - 0.05 - 0.04

TSX VENTURE EXCHANGE / MAY 30–JUNE 3 The S&P/TSX Venture Composite Index gained 3.8%, or 25.18 points, to a 693.72-point close, while gold prices strengthened on doubts that the U.S. Federal Reserve would hike interest rates in June.

Spot gold jumped 2.5%, or US$30.28, to US$1,242.66 per oz. whereas three-month London Metal Exchange copper contracts edged down US$21 per tonne, or 0.4%, to a US$4,679-per-tonne close.

Gold Reserve led the value-added category, gaining $1.62 to a $5.09-per-share close after extending its memorandum of understanding (MOU) with the Bolivarian Republic of Venezuela regarding the company’s Brisas gold-copper project in southeastern Venezuela.

In September 2014, Gold Reserve negotiated a US$740-million settlement with the Venezuelan government for losses it incurred after a nationalization campaign rescinded all of the project’s permits and licences.

The company expects to complete the transactions outlined in the MOU by June 21.

Aspiring miner Discovery Ventures saw 17.4-million shares traded before closing up 3¢ to 17¢ per share. The company announced it would undertake a private placement and grant of stock options to advance its WillaMax gold-copper-silver project in southeastern B.C. The financing package offers 25 million

units at 12¢ each for a total of $3 million.

Each unit consists of one common share and one additional share at 20¢ exercisable over four years. The company also granted existing consultants 2 million options at 15¢ per share, exercisable over five years.

Discovery is rehabilitating underground portals for a 10,000-tonne bulk sample and has applied for a small mines permit with the B.C. government. The material would be processed at Discovery’s wholly owned Trout Lake mill complex, 132 km from the site.

Aben Resources jumped 157.1% before finishing at 18¢ per share. The company completed the first and second tranche of a private placement for a total $234,250, and granted 1 million incentive stock options at an exercise price of 7¢-per-share over five years.

TSX-V MOST ACTIVE ISSUES

Discovery Vent Alset Energy Fairmont Res Scientific Mts Alix Res Mountain Boy Nexgen Energy Gold Bulln Dev Macarthur Mnl Sanatana Diam

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

DVN 17416 ION 13419 FMR 12659 STM 9970 AIX 8269 MTB 8010 NXE 7681 GBB 7335 MMS 7204 STA 7090

0.19 0.59 0.19 0.13 0.14 0.05 2.61 0.14 0.13 0.02

0.13 0.27 0.07 0.11 0.09 0.02 2.20 0.08 0.09 0.01

0.17 0.56 0.13 0.12 0.12 0.04 2.51 0.09 0.10 0.02

+ + + - + + + - - +

0.03 0.20 0.05 0.02 0.03 0.02 0.27 0.05 0.03 0.01

The company said the capital raised will fund exploration at its newly acquired Aben’s Beauty gold-copper property, contiguous to Colorado Resources and SnipGold’s KSP copper-gold property in northwestern B.C. Alset Energy gained 20¢ before closing at 56¢ per share, on news of sampling results from its Wisa Lake lithium property, 80 km east of Fort Frances, Ont.

The company traced a pegmatite dyke for 100 metres across the property’s south zone, recovering samples grading up to 6.4% lithium oxide, along with a 2-metre channel sample grading 1.2% lithium oxide.

Pegmatite samples collected over 200 metres from the property’s north zone returned grades ranging from 283 ppm up to 2.2% lithium oxide. TNM

TSX-V GREATEST PERCENTAGE CHANGE

Gitennes Expl Stratabd Mnr Amato Expl Aben Res Mega Copper Tasca Res Pan Global Res Manitou Gold ExGen Res Inc Rugby Mng Zincore Mtls Cdn Arrow Inform Res Alturas Mnrls Nomad Ventures Tanzania Mnls China Mnls Mng Pac Imperial Saville Res Belvedere Res

GIT SB AMT.H ABN MCU TAC PGZ MTU EXG RUG ZNC.H CRO IRR ALT NMD TZM CMV PPM SRE BEL

4974 837 817 2039 69 209 94 557 2751 1088 15 710 803 110 3542 748 82 1243 35 127

0.04 0.02 0.03 0.21 0.05 0.16 0.04 0.10 0.01 0.34 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.04 0.02 0.06

0.00 0.02 0.01 0.08 0.02 0.06 0.02 0.05 0.01 0.15 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.02 0.00 0.04

0.03 0.02 0.03 0.18 0.05 0.15 0.04 0.10 0.01 0.30 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.02 0.02 0.04

TSX-V GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

+ 400.0 + 300.0 + 200.0 + 157.1 + 150.0 + 150.0 + 133.3 + 111.1 + 100.0 + 100.0 - 66.7 - 50.0 - 50.0 - 50.0 - 50.0 - 50.0 - 50.0 - 42.9 - 42.9 - 41.7

VOLUME WEEK (000s) CLOSE CHANGE

Gold Reserve GRZ Abitibi Royalt RZZ Bear Creek Mng BCM Nexgen Energy NXE American Lith LI Kaminak Gold KAM Mirasol Res MRZ Alset Energy ION Wealth Mnrls WML K92 Mng Inc KNT Chesapeake Gld CKG Cougar Mnls TKX Goldex Res GDX Altair Gold AVX CanAlaska Uran CVV Stakeholdr Gld SRC Southern Arc SA Highway 50 Gld HWY Pac Iron Ore POC Mason Graphite LLG

272 5.09 + 1.62 80 6.89 + 0.84 296 2.36 + 0.28 7681 2.51 + 0.27 3143 1.54 + 0.27 5644 2.55 + 0.23 312 1.84 + 0.22 13419 0.56 + 0.20 1977 1.02 + 0.18 5355 1.23 + 0.17 175 3.25 - 0.26 281 0.50 - 0.15 21 0.42 - 0.14 38 0.41 - 0.10 555 0.52 - 0.08 53 0.42 - 0.08 42 0.40 - 0.08 16 0.17 - 0.08 6 0.15 - 0.07 428 0.69 - 0.07

U.S. MARKETS / MAY 30–JUNE 3 Economic data was mixed with reports that U.S. consumer spending in April posted its sharpest increase in more than six years, while jobs data showed that non-farm payrolls in May increased the least in more than five and a half years at just 38,000.

The employment figures sent the U.S. dollar down 1.6% on June 3, but contributed to the rise in the gold price, which advanced 2.5% to US$1,243.50 per oz. gold. Attacks on oil infrastructure in Nigeria helped push Brent crude to a weekly close of US$50.21 per barrel. The Dow Jones Industrial Average fell 0.4% to 17,807.06, and the S&P 500 remained relatively flat — up just 0.003% to 2,099.13.

Barrick Gold jumped US$2.56 to US$19.18 per share. The company confirmed it had reached a US$140-million settlement in a class action lawsuit pending before the U.S. District Court. The lawsuit claimed that Barrick had misrepresented the status of its Pascua Lama project. Barrick rejects the allegations and said “the company has not accepted any charges of wrongdoing or liability.” Construction at the project was stopped in 2013 after being dogged by environmental issues, political op-

6_JUN13_MarketNews.indd 6

position and cost overruns. The gold producer has written down the project’s value by an estimated US$6 billion.

Infill drilling at the Brucejack project’s Valley of the Kings lifted shares of Pretium Resources by 17% to US$8.26 apiece. The underground drill program returned six intersections grading greater than 1,000 grams gold per tonne, within long intervals of significant gold mineralization. The results from the 2015–2016 infill drill program and a revised geological interpretation will be incorporated into an updated resource estimate for the Valley of the Kings. Highlights include 149.95 grams gold per tonne U.S. MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Freeport McMo* FCX 171202 11.50 10.27 11.11 - 0.03 Vale* VALE 125321 4.62 3.85 4.61 + 0.63 Barrick Gold* ABX 99212 19.23 16.40 19.18 + 2.56 Alcoa* AA 96754 9.57 9.10 9.52 + 0.17 United States S* X 78944 15.68 13.72 15.28 + 0.90 Kinross Gold* KGC 74724 5.02 4.17 4.97 + 0.74 Yamana Gold* AUY 59634 4.80 4.08 4.80 + 0.63 Newmont Mng* NEM 54274 35.46 31.62 35.40 + 3.44 Goldcorp* GG 47332 18.30 16.41 18.26 + 1.66 Teck Res* TCK 46928 10.77 9.20 10.70 + 1.17

uncut over 31 metres, including 9,200 grams gold uncut over 0.5 metre in hole 746 and 69.66 grams gold uncut over 23.3 metres, including 2,260 grams gold uncut over 0.5 metre in hole 749. Commercial production is targeted for 2017.

Vale’s shares were the second most traded

and rose US63¢, or 16%, to US$4.61. The company sold its 27% in the troubled CSA steel plant to Germany’s ThyssenKrupp for a “symbolic price” to focus on its core business. (Vale is entitled to a part of earnings if ThyssenKrupp sells the steel plant in the future.) TNM

U.S. GREATEST PERCENTAGE CHANGE

Cloud Peak En* Gold Fields* Harmony Gold* AngloGold Ash* IAMGOLD* Kinross Gold* Pretium Res* Buenaventura* Vale* Alamos Gold* Trecora Res* MartinMarietta* Rio Tinto* Chevron* Southern Copp* Freeport McMo* Natural Res Pt* Suncor Energy* TECO Enrgy* Agrium*

CLD GFI HMY AU IAG KGC PVG BVN VALE AGI TREC MLM RIO CVX SCCO FCX NRP SU TE AGU

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

5124 2.22 1.64 2.14 31829 4.23 3.47 4.21 22905 3.51 2.88 3.50 21792 15.96 13.17 15.89 28499 3.79 3.14 3.76 74724 5.02 4.17 4.97 7042 8.29 7.02 8.26 18341 11.15 9.02 11.11 125321 4.62 3.85 4.61 9655 7.24 6.15 7.21 159 11.73 10.98 11.01 4196 193.08 184.53 186.73 25458 29.27 27.00 28.34 29596 102.28 99.72 100.66 17222 27.03 25.37 26.42 171202 11.50 10.27 11.11 150 11.46 10.72 11.12 24732 27.95 26.64 27.52 9430 27.68 27.50 27.59 3437 92.10 88.64 91.88

+ 27.4 + 20.3 + 19.9 + 18.8 + 18.6 + 17.5 + 17.3 + 16.7 + 15.8 + 15.5 - 2.9 - 2.7 - 1.4 - 1.3 - 0.7 - 0.3 - 0.3 - 0.1 + 0.2 + 0.7

U.S. GREATEST VALUE CHANGE

Franco-Nevada* FNV Agnico Eagle* AEM Newmont Mng* NEM Barrick Gold* ABX AngloGold Ash* AU Silver Wheaton* SLW Black Hills* BKH NACCO Ind* NC Goldcorp* GG Buenaventura* BVN MartinMarietta* MLM Chevron* CVX Rio Tinto* RIO Trecora Res* TREC Southern Copp* SCCO Freeport McMo* FCX Natural Res Pt* NRP Suncor Energy* SU Mechel* MTL TECO Enrgy* TE

VOLUME WEEK (000s) CLOSE CHANGE

3700 69.62 12249 50.16 54274 35.40 99212 19.18 21792 15.89 24325 20.39 1409 61.88 117 55.11 47332 18.26 18341 11.11 4196 186.73 29596 100.66 25458 28.34 159 11.01 17222 26.42 171202 11.11 150 11.12 24732 27.52 533 1.83 9430 27.59

+ 6.81 + 6.02 + 3.44 + 2.56 + 2.51 + 2.19 + 2.07 + 1.69 + 1.66 + 1.59 - 5.10 - 1.36 - 0.39 - 0.33 - 0.19 - 0.03 - 0.03 - 0.02 + 0.04 + 0.06

2016-06-07 7:39 PM

SPECIAL FOCUS

LITHIUM Lithium Americas’ Cauchari-Olaroz lithium brine project in northern Argentina. LITHIUM AMERICAS

Robinson surveys the world's lithium deposits

Neo Lithium hits high grade ARGENTINA

| Tres Quebrados could become the world’s fourth highest-grade deposit

LITHIUM BOOM

| Pure Energy COO sees lithium supply continuing to grow

BY LESLEY STOKES lstokes@northernminer.com VANCOUVER

W

h i le t he bu rgeon i ng lithium market has sent companies scrambling to secure and advance lithium projects across the globe, anyone new to the scene may be left wondering what the fuss is all about.

And so The Northern Miner reached out to Andy Robinson, chief operating officer for Pure Energy Minerals (TSXV: PE), to describe the fundamentals of lithium deposits and how to understand the differences between projects.

Pure Energy entered the lithium business in 2009, and picked up its flagship Clayton Valley South property in 2011. The brine-hosted deposit is beside North America’s current sole lithium producer Albemarle (NYSE: ALB) and its Silver Peak operation, halfway between Reno and Las Vegas in Nevada.

“The lithium world is not like normal commodities … it’s highly technical, and there’s lots of tricky geology, hydrogeology and chemical engineering you have to solve to make it work,” Robinson says over coffee at a café near The Northern Miner’s Vancouver office. “Fundamentally you need the right team in place, otherwise you won’t be able to do anything with the project.”

Robinson has a doctorate in geochemistry, and cut his teeth on a variety of groundwater projects in the mineral and energy sectors for over a decade.

He explains that there are three types of lithium deposits: spodumene, clay and brine.

Spodumene is a lithium-bearing mineral found within coarsegrained granite pegmatite rock.

One reason why crystals in pegmatites are so unusually large is because lithium prevents magmatic melt from cooling too quickly, which gives the minerals more time to grow.

“Pegmatites are your classic hardrock deposit that any miner can get their head around,” Robinson says.

“They’re mostly in Australia, with Talison Lithium being the biggest producer right now. Then there’s a bunch in Quebec and some in the eastern U.S., but nothing there has been put into production yet.”

(An exception is beleaguered miner RB Energy — formerly Canada Lithium — at its Quebec Lithium spodumene mine, 60 km north See LITHIUM / 8

1 2 3 4 5 7 8 9 14 16_JUN13_Main .indd 7

Neo Lithium founder and CEO Waldo Perez at the Tres Quebrados lithium project in Argentina. NEO LITHIUM

BY TRISH SAYWELL tsaywell@northernminer.com

F

rom satellite imagery, Tres Quebrados just looked like an ordinary freshwater lake in northwestern Argentina.

But when Waldo Perez stuck his hands into the brownish liquid he discovered something else entirely.

“The first thing you notice is that it isn’t freshwater — it’s brine,” he says in an interview. “It’s oily, it’s dense, it’s heavy, it’s kind of black, and it was totally unexpected. It is a rare phenomenon to find large bodies of lithium brine exposed on surface — the size that you can actually see in a satellite image — so it was missed all these years.”

Initial surface samples came back with some of the highest-grade lithium readings the geologist has ever seen in Argentina, ranging from 1,390 milligrams per litre lithium down to 896 milligrams per litre lithium.

The samples were also incredibly dense, with some measurements as high as 1.30 kg per litre. In contrast, density readings from the region’s other salars range between 1.18 kg per litre and 1.22 kg per litre, Perez says.

“It’s the densest existing brine that I am aware of, and it’s the fourth highest-grade lithium brine known today — at least from the surface samples,” Perez says with excitement. “There are other salty water bodies in the Puna, but none contains this kind of grade of lithium and this density.”

Perez is no stranger to lithium exploration. He led the team that

“THE FIRST THING YOU NOTICE IS THAT IT ISN’T FRESHWATER — IT’S BRINE.” WALDO PEREZ FOUNDER AND CEO, NEO LITHIUM

discovered the Cauchari lithium deposit — the third-largest lithium brine deposit in the world — now owned by Lithium Americas (TSX: LAC), a company he set up privately and took public in 2010.

That team left Lithium Americas in 2013 to look for the next big project. They believe they have found it with Tres Quebrados, a discovery they made in December 2015. Perez hopes to list his new company, NEO Lithium Corp., on the TSX Venture Exchange later this year.

“You’ve seen a lot of buzz in the lithium industry recently, but we’re not new to this — we’ve been doing this for more than a decade,” Perez says. “And we have reassembled what is probably one of the most elite teams in the world for this type of deposit.”

Both Cauchari and Tres Quebrados are in northwestern Argen-

tina and make up part of the Puna Plateau, an area also known as the “Lithium Triangle” that straddles Argentina, Chile and Bolivia.

Cauchari is near Argentina’s border with Bolivia, while Tres Quebrados, 500 km south, is closer to the country’s border with Chile.

Tres Quebrados — “3Q” for short — is also 30 km from another large lithium deposit called the “Maricunga” salar in Chile.

Perez points out that the lithium grade at Tres Quebrados is 50% higher than at Cauchari. “As a matter of fact,” he says, “the lowest grade See NEO LITHIUM / 10

2016-06-07 8:03 PM

8

JUNE 13–19, 2016 / THE NORTHERN MINER

LITHIUM

WWW.NORTHERNMINER.COM

Robinson surveys the world's lithium deposits LITHIUM From 7

of Val-d’Or, Que. The company began commissioning the mine in 2012, but ran into delays from commissioning problems with its kiln, which converted alpha spodumene to beta spodumene — the first step of the process to convert spodumene concentrate to lithium carbonate.

After a failed attempt to raise capital for the operation, RB Energy shuttered the mine in 2014 before it reached full capacity and filed for bankruptcy.)

But today’s resurgence in the lithium market has cast a new glow on the hard-rock projects in Quebec, with Nemaska Lithium (TSXV: NMX; US-OTC: NMKEF) being “one company that’s furthest along,” Robinson says. The company is nearing a construction decision at its spodumene Whabouchi lithium project, 300 km northwest of Chibougamau.

The project has open-pit proven and probable reserves of 20 million tonnes at 1.5% lithium oxide (Li2O) using a 0.4% Li2O cut-off, and underground proven and probable reserves of 7.3 million tonnes at 1.3% Li2O, using a 0.8% Li2O cut-off.

Lithium clay deposits are developed when intense hydrothermal fluids convert volcaniclastic rocks into hectorite, a lithium-rich clay.

The lithium can also precipitate directly into clays from migrating groundwater.

“Clay deposits would be bulkmined, but the processing is different, and there aren’t any deposits that have been commercialized yet,” he says. “The lithium is essentially locked in the clay minerals, so it requires more energy just to persuade the lithium back into solution.”

He says the more publicly known and “impressive” clay deposits include Lithium Americas’ (TSX: LAC) Lithium Nevada deposit — formerly known as Kings Valley — 100 km northwest of Winnemucca in northern Nevada, and Bacanora Minerals (TSXV: BCN) and partner Rare Earth Minerals’ (LSE: REM)

Sonora Lithium project, 190 km northeast of Hermosillo, in northern Mexico’s Sonora state.

Lithium Nevada hosts 50.8 million tonnes of 0.3% lithium and 3.3% potassium for 843,000 tonnes lithium carbonate equivalent (LCE) and 1.7 million tonnes potassium.

Indicated resources add 164 million tonnes of 0.3% lithium and 3.1% potassium for 2.5 million tonnes LCE and 5 million tonnes potassium. Both calculations assume a 0.2% lithium cut-off.

The Sonora Lithium project hosts 259 million indicated tonnes of 0.3% lithium and 1.4% potassium for 4.5 million tonnes LCE and 3.6 million tonnes potassium. Inferred resources add 160 million tonnes of 0.3% lithium and 1.3% potassium for 2.7 million tonnes LCE and 2.1 million tonnes potassium. Both calculations assume a 0.1% lithium cut-off.

Lithium brine deposits are formed

Neo Lithium Corp.

A new high grade lithium brine discovery in the lithium triangle Right Project • Newly discovered lithium salar and brine-reservoir complex in Catamarca, Argentina • Containing rare lithium-rich brine reservoir • High grade lithium and potash and very low impurities (based on initial sampling) Right Address

when lithium is leached, transported, concentrated and held within salty groundwater in arid environments.

According to a Canaccord Genuity market report released in May, lithium brine deposits account for 78% of the world’s lithium resources, and 51% — or 90,000 tonnes — of global LCE production in 2015.

Most brine deposits are found in what Robinson refers to as South America’s “lithium triangle,” tracing from the bottom of Bolivia into Argentina and the Atacama Desert in Chile.

Canaccord notes the world’s largest brine production is from a large salt flat called “Salar de Atacama” in Chile, where Sociedad Quimica y Minera de Chile (NYSE: SQM) and Albemarle produced 60,673 tonnes of LCE — or 34% of global LCE production — from their combined operations in 2015.

“There are only a handful of regions in the world with all the right geological vectors that come together to form a lithium brine deposit,” Robinson says.

“You find them in basins where there’s no water coming in or out — it’s just like a big bathtub in the middle of the desert that’s been sitting there for hundreds of millions of years, evaporating into salt lakes.

Lithium loves being in solution.

It gets leached from volcaniclastic rocks that are slightly elevated in lithium, and/or it’s introduced by geothermal systems. So it all comes in diluted, but becomes more concentrated through evaporation over time.”

Other than South America, he says, the only other region that makes “economic sense” for lithium brine production is in the Clayton Valley region of Nevada, where Albemarle has its Silver Peak operation.

The U.S. Geological Survey estimates that Silver Peak has yielded 300 million lb. LCE since starting

“THERE ARE ONLY A HANDFUL OF REGIONS IN THE WORLD WITH ALL THE RIGHT GEOLOGICAL VECTORS THAT COME TOGETHER TO FORM A LITHIUM BRINE DEPOSIT.” ANDY ROBINSON COO, PURE ENERGY MINERALS

production in 1966. Albemarle produced 5,000 tonnes LCE in 2015 — or 3% of global output — according to Canaccord’s report.

Robinson notes there are also lithium brines associated with oilsands — such as those found in Alberta — but says they’re “very much their own niche.”

“From a geological point of view, the oil field brines are something that happened 200 or 300 million years ago, whereas the lithium brines we’re more familiar with are still occurring to this day,” he says. “The oil and gas reservoirs often contain very saline groundwater that can be lithium enriched … but it hasn’t been looked at much yet.”

One example he offers is junior explorer Canadian International Minerals (TSXV: CIN). The company confirmed a joint-venture agreement with Noram Ventures (TSXV: NRM) in May, whereby Noram may earn a 50% interest in the Alberta Lithium Brine project, located in the heart of the Sturgeon Lake oil field in west-central Alberta.

The project hosts the Sturgeon Lake brine deposit, which has an inferred resource of 2 million tonnes LCE at grades of 67.5 milligrams lithium per litre in 5.7 billion cubic metres of water.

Robinson explains that producers typically pump out lithium-enriched brines through a series of wells, and flush the water into a pond where the lithium concentrates via evaporation over time.

• Mining friendly province • Only 250 km from a Chilean port Right Team • Successful and experienced technical team – discovered and developed the Cauchari salar (Lithium Americas Corp.) to full feasibility study in 36 months • Deep relationships with lithium end-users

NEVADA ALASKA MINING CO., INC.

Premier Lithium Prospect Generator —since 2008—

Over 30,000 acres under Royalty Lease Neo Lithium Corp.

Email: info@neolithium.ca www.neolithium.ca

775-302-3484 nevadaalaska@sbcglobal.net

The concentrate is treated with sodium carbonate, known as “soda ash,” to precipitate lithium carbonate, which can then be washed and purified for sale.

But Robinson says there are a number of limitations with this approach.

The evaporation process, he says, is “very slow,” taking up to a year even in the most favourable conditions — such as the Atacama Desert — before a company can start processing the concentrate into a “useful product.”

In Nevada, where temperatures are cooler, he says it can take “up to two years to go from pump to a product you can sell.”

And if there’s a sudden rainstorm, or unpredictable weather, the pond becomes diluted and the evaporation process is set back.

“The conventional way of mining brines is just not efficient enough … lithium mining is much more of a chemical market than it is your typical mining mentality. You want to make a product people want to buy and use in batteries as efficiently as possible,” he says.

As a result, Robinson says Pure Energy has enlisted technology-leader Tenova Bateman Technologies and steelmaker Posco to develop a lithium processing technology that could slash production time to under 48 hours and eliminate the need for evaporation ponds.

The company expects results from the processing trials later this year.

Canaccord analyst Reg Spencer told The Northern Miner in an email that new lithium extraction technologies are listed as one of the risks in his firm’s supply forecasts, and to date “none have been proven to work on a commercial scale.”

According to Canaccord’s market report, lithium demand could jump 81% to 347,000 tonnes LCE by 2020, and by 259% to 687,000 tonnes by 2025, with 38% of demand from lithium-ion based electric vehicles, and 14% from the grid storage sector.

The firm predicts lithium carbonate prices could rise from US$6,000 per tonne in 2015 to US$10,500 per tonne by 2025, with spodumene See LITHIUM / 10

NAME

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2016-06-07 8:03 PM

LITHIUM

GLOBAL MINING NEWS

THE NORTHERN MINER / JUNE 13–19, 2016

9

Pure Energy fosters ingenuity NEVADA

| Tesla Motors helps Pure Energy with technology trials for Clayton Valley South

BY LESLEY STOKES

P

lstokes@northernminer.com VANCOUVER

ure Energy Minerals (TSXV: PE) is testing a processing technology that could be a game changer for its Clayton Valley South lithium brine project, located beside Albemarle’s (NYSE: ALB) Silver Peak lithium mine, halfway between Reno and Las Vegas, Nev. The mini-pilot plant work is being carried out at Tenova Bateman Technologies’ research and development centre in Katzrin, Israel, while steelmaker Posco is also conducting similar research at its facilities in Pohang, South Korea.

Chief operating officer Andy Robinson tells The Northern Miner the new processing technique would generate lithium hydroxide and slash production time.

“The old-school idea is to pump the brines out, spread it onto evaporation ponds and leave it for a year or two before it’s harvested and processed into lithium carbonate,” he says. “With this new technology, you can pump the brine to surface, run it through a chemical process, strip everything out and turn it into a battery-ready product in under two days.”

The process is broken into three phases: membranes remove the alkaline elements from the brine, such as calcium and magnesium; solvent extraction creates a lithium sulphate solution; and electrolysis converts the solution into lithium hydroxide.

The company says the technology could bump up lithium recovery within brines from 50% to greater than 99%.

“We know the process effectively extracts lithium down to 20 milligrams of lithium per litre,” he says. “If we can make this work, then what were once considered marginal brine deposits could now be completely feasible.

“The technology has been commercialized for various other metals, so we’re just taking it and tweaking a few things to make it work for lithium,” he continues. “We’ve put together this really cool brain farm, and if they can’t solve it, then it can’t be solved. But everything so far is looking good, and we have the right combination of talent to really crack this one.”

Robinson says the company became interested in the technology because getting permits to build ponds in Nevada can be “difficult,” and that “the public and regulators just don’t like evaporation ponds. They’re ugly, they require thousands of acres of public land … and you’re evaporating huge quantities of water in a desert, which is pretty reckless.”

One of Pure Energy’s biggest backers on advancing the technology is Tesla Motors (NASDAQ: TSLA).

The electric carmaker is building a US$5-billion battery plant, the “Gigafactory,” located outside Reno, and a three-hour drive from Pure Energy’s property.

The pair entered into a supply agreement last September, whereby Pure Energy would supply lithium hydroxide to Tesla over five years once Clayton Valley South goes into production and meets certain conditions.

“We saw there was something that can be done here to improve the process and Tesla agreed with us,” he says. “They’ve provided a lot of personnel and technical help to get us down this road because they believe in this technology too.”

Robinson says if the test work is successful, the company will incorporate the results into a preliminary

1 2 3 4 5 7 8 9 14 16_JUN13_Main .indd 9

A drill site at Pure Energy Minerals’ Clayton Valley lithium property in Nevada. PURE ENERGY MINERALS

economic study for its Clayton Valley South project, scheduled for later this year.

The report will also update the project’s inferred resource, which Robinson says was negatively impacted in the last phase of drilling.

The company reported in May that drilling in the shallow part of the southern resource area returned “no significant lithium values” because a hydrothermal system was diluting the brine.

“We stepped out into the middle of the southern resource area and encountered a hydrothermal system … which is definitely not what we were expecting,” he says. “We need to recast the resource for the shallow aquifer in the south … we’re not sure how it’s going to land, but there will certainly be some impact.”

Most drilling on the project has focused on 1.6 sq. km in the northern end of the basin, where

lithium-enriched brines occur in two aquifers: Main Ash and Lower.

An upper zone in the Main Ash aquifer has an inferred resource of 10,300 tonnes grading 102 milligrams of lithium per litre, whereas a lower zone has 31,700 tonnes grading 370 milligrams of lithium per litre.

The Lower aquifer system contains 163,000 tonnes grading 194 milligrams per litre.

The company combined previous drilling with seismic and gravity data to extrapolate the two lithiumbearing aquifer systems in the north across the 15 km length of the basin.

The interpretation led to the southern zone’s 30.9 sq. km inferred resource area, which measured 245,000 tonnes grading 102 milligrams per litre for the Main Ash aquifer, and 366,000 tonnes grading 37 milligrams of lithium per litre for the Lower aquifer.

Robinson explains the magnitude

of the interpretation is standard practice and “the same as other inferred resources in basins across the world.”

He says that “the aquifers show up really well in the seismic section and you can see the layers go all the way through the basin just beautifully.

We don’t believe the hydrothermal system impacts the entire basin.

Perhaps it’s focused along some sort of fault we haven’t been able to image yet — we don’t know.”

In light of the drill results, the company is working to expand the

resource in the northern end of the basin, where drilling to date has yet to reach the bottom of the brine.

“Everywhere we’ve drilled in the north looks great so far, and it’s better grade,” Robinson says. “We think by adding thickness to the north, we’ll offset some of the inferred resource we may have lost in the south, so we’re balancing two things.

“Our next milestone is to combine the new resource with the processing work in a new economic study, and if it goes the way we think it will, it will have some great numbers.” TNM

Exploring in the deepest section of the only lithium brine basin in production in North America Sienna Resources Inc. (SIE–TSX.v) (A1XCQ0 –FSE) (HBNRF–OTCBB) is a Canadian based lithium exploration and development company.

Sienna is focused on developing its flagship property, The Clayton Valley Deep Basin Lithium Brine Project (see map).

This project is in the Clayton Valley of Nevada and is located directly between and bordering Pure Energy Minerals Limited (PE–TSX.v) and Lithium X Energy Corp. (LIX–TSX.v).

The Clayton Valley Deep Basin Lithium Brine Project is situated in the deepest sections of the lithium brine basin, where the only North American producer, Albermarle”s (ALB–NYSE) Silver Peak Lithium Mine is in production.

1.604.646.6900 | info@siennaresources.com

www.siennaresources.com

2016-06-07 8:03 PM

10

LITHIUM

JUNE 13–19, 2016 / THE NORTHERN MINER

WWW.NORTHERNMINER.COM

Neo Lithium hits high grade NEO LITHIUM From 7

at Tres Quebrados is the highest grade at Cauchari.”

Tres Quebrados also has high potassium and potash values that average 0.8%. “Anywhere else in the world, 0.8% potash is a standalone potash project,” Perez says.

“Potash in Utah, for example, is produced from brine that is 0.7% or 0.6% potash.”

Perez points out that other lithium brine projects spend part of their budget on adding lime during evaporation to produce potash. But chemical results from preliminary sampling at Tres Quebrados show that the brine does not need lime to precipitate the potash.

Preliminary brine evaporation simulation indicates that the brine may reach 1% lithium concentration levels and produce potash without using any reagents, which also suggests there is potential to directly ship the concentrate, Perez says.

He estimates that Cauchari and other salars, such as Hombre Muerto (owned by FMC [NYSE: FMC]) and Atacama (owned by Albemarle [NYSE: ALB] and SQM [NYSE: SQM]) all require lime. At Cauchari he estimates that adding lime would make up 30% of the company’s projected operating costs.

“We are already there — we don’t need to do anything — we can produce potash just by letting the brine dry in the sun,” Perez says.

“It’s amazing, and potash will be a significant by-product.”

Among the many qualities Tres Quebrados has to offer, he says, is that unlike many lithium brine deposits, it has low concentrations of magnesium and sulphate — impurities that can be difficult and costly to extract.

“They’re not contaminants in terms of being hazardous to the environment, they are contaminants because they sequester your lithium,

Neo Lithium’s Tres Quebrados lithium property in Argentina. NEO LITHIUM

making it harder to recover,” he says. “You have to look at these two elements to see if you will be able to put a lithium project into production … [an iron] sulphate is a little easier to get rid of, but it will increase your production costs.”

As for magnesium, he says, anything above 10 times more magnesium than lithium would make the project uneconomic. At Tres Quebrados, the average magnesium–lithium concentrations is less than 1.6. As for sulphate, there is no hard limit (as for the number 10 in magnesium), but most projects have sulphate–lithium ratios above 10 or even 50, while Tres Quebrados has a 0.6 sulphate–lithium ratio. That makes the combined magnesium and sulphate impurities among the lowest of all known salars, he says.

While it is still early days and many more studies need to be done, Perez says that the low magnesium and sulphate concentrations at Tres Quebrados could make it one of the lowest-cost lithium projects out there. “The chemistry is clean,

which is encouraging,” he says.

Perez adds that so far the chemistry at Tres Quebrados appears to be similar to that of China’s Zhabuye lithium brine deposit in Tibet, which has been in production since 2004. “This type of brine ‘lake’ or reservoir deposit is rare, but it exists, and until now there was just one — Zhabuye. But we have just discovered the second one.”

Other positives include its location — the complex is 250 km from the Chilean port of Caldera and is in a part of Argentina that is uninhabited.

Tres Quebrados consists of three targets — the northern lithium brine reservoir, the central salar and central brine reservoir, and the southern green salar and brine reservoir.

The complex measures 160 sq. km, but the company has staked a 300 sq. km to ensure its hold over the surrounding land package. It also owns 100% of the project and has the rights from surface owners to explore and mine the land.

Robinson surveys deposits LITHIUM From 8

concentrate prices increasing from US$450 per tonne to US$725 per tonne over the same period.

Global supply was at 176,000 tonnes LCE in 2015, with production dominated by six operations owned by four major mining companies, including Albemarle, SQM, FMC (NYSE: FMC) and Sichuan Tianqi Lithium Industries.

The report states that out of the 19 advanced projects across the globe, only a handful of new projects are likely to go into production before 2019 — most of which are spodumene, hard-rock lithium deposits.

Projects noted include Galaxy Resources and General Mining at

their Mt Cattlin spodumene project near Ravensthorpe, Western Australia; Jiangxi Ganfeng Lithium, Mineral Resources and Neometals’ Mt Marion spodumene project, 40 km from Kalgoorlie, Western Australia; Pilbara Minerals’ Pilgangoora spodumene project, 90 km from Port Hedland, Western Australia; Altura Mining’s Pilgangoora spodumene project located next to Pilbara Minerals’ Pilgangoora project; Orocobre’s (TSX: ORL) Salar de Olaroz in northwest Argentina’s Jujuy province; and Galaxy’s Sal de Vida lithium brine project in Argentina’s Catamarca and Salta provinces.

Galaxy describes Sal de Vida as one of the largest and highest-

CSE: XMG CSE: XMG CSE: XMG CSE: XMG n Alberta Lithium portfolio controlling n Alberta Lithium portfolio controlling n Alberta Lithium portfolio controlling 300,000 hectares of brine formations n Alberta Lithium portfolio controlling 300,000 hectares of brine formations 300,000 hectares of brine formations n 300,000 Controls 14 of top 25 historical high grade hectares of brine formations n Controls 14 of top 25 historical high grade n Controls 14 of top(>=90 25 historical high grade lithium properties mg/L lithium) n Controls 14 of top(>=90 25 historical high grade lithium properties mg/L lithium) lithium properties (>=90 mg/L lithium) n lithium Initial process design completed properties (>=90 mg/L lithium) n Initial process design completed n Initial process design completed n Initial process design completed 1080 Howe St., Suite #303, Vancouver, BC V6C 2T1 1080 Howe St., Suite #303, Vancouver, BC V6C 2T1 Tel: 604.681.7735 www.mgxminerals.com 1080 Howe St., Suite #303, Vancouver, BC V6C 2T1 Tel: 604.681.7735 www.mgxminerals.com 1080 Howe St., Suite #303, Vancouver, BC V6C 2T1 Tel: 604.681.7735 www.mgxminerals.com Tel: 604.681.7735 www.mgxminerals.com

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quality undeveloped brine deposits in the world.

The brine deposit has measured and indicated resources of 4.1 million tonnes LCE at grades of 782 milligrams lithium per litre. Inferred resources add 3.2 million tonnes LCE at 718 milligrams lithium per litre. Both calculations assume a cut-off of 500 milligrams lithium per litre.

If these new entrants advance to production, Canaccord predicts there could be a modest lithium oversupply in 2018 and 2019, before balancing in 2021, and another 510,000 tonnes LCE may be needed by 2025.

To meet the projected demands, exploration for lithium deposits has heated up among junior explorers.

Robinson says that many have chosen to “ride the lithium brine wave,” because production costs are “much lower” than those at hard-rock operations, considering operators don’t have to drill, blast, excavate and haul ore.

But impurities within the brine — such as magnesium, boron, calcium and strontium — could increase capital and operating costs, as well as production time.

“Your lithium content can be lower if there’s not a lot of other stuff in the brine with it,” he says.

“The chemistry of the brine is really important — other elements in there can really make processing difficult.”

But Robinson remains upbeat on the lithium sector. “This is not just a boom and bust cycle. The fundamentals are there that lithium demand will keep growing.” TNM

Perez still marvels at how NEO Lithium staked its claim in an area where most salars have already been taken.

“Argentine geologists and others have been looking for lithium for the last 10 years, so all the salars have been staked by somebody — someone has ownership,” he says. “But this one was missed. It’s amazing, actually, but natural at the same time. If you’re a geologist and you see what looks like a lake, the last thing you want to do is sample it, because you just assume that it’s freshwater, and that it comes from the rivers and the snow. You never think that there will be a whole lake of brine — that’s unprecedented.”

Perez notes that the lake is probably not the target — it’s what he calls the “payback hill,” or the exposed part of the orebody. There is brine in the lake, there is brine under the lake and there is brine in

the salar, he explains, the lake is just showing you a part of the orebody.

“It would be like if you were looking for oil and you found a lake of oil. This is what we have here only it’s a lake of brine.”

As for Perez, he made a name for himself long before he started looking for lithium deposits.

He is credited with the discovery and development of the Paso Yobai gold deposit in Paraguay as vicepresident and then CEO of Latin American Minerals (TSXV: LAT).

He was also project-generation manager for Barrick Gold (TSX: ABX; NYSE: ABX) and Iamgold (TSX: IMG; NYSE: IAG) in Argentina and directly involved in discovering and developing the Lomada de Leiva gold mine, now owned by Patagonia Gold (TSX: PAT; LSE: PGD), and the El Tranquilo gold deposit, also owned by Patagonia Gold. TNM

CAREER OPPORTUNITIES WANTED: Financial Controller Financial Controller wanted for junior mining company operating near Rouyn-Noranda and expected to start production within the next few months.

In order to be considered for the position candidates will need to have: > A professional accounting designation (CA\CPA\CMA) > Be fluent in English and French (both written and verbal And have experience in executing the following duties and responsibilities: > Budget and Forecast management – financial planning > Oversee accounts payable and receivable process > Experience with inventory and work in process costing. > 3+ years of IFRS and public company financial reporting experience in the mining industry > Presentation of financial results to executives and senior management > Preparation of IFRS financial statements on a monthly basis > Preparation of year-end audit files The successful candidate will have room to advance within the organization.

Please contact Tom Devlin at 813-449-3405.

CAREERS ADVERTISING RATES $12.65 per agate line.

Minimum size 2 columns x 1” $354.20.

Closing date is 10 days prior to publication date.

All Canadian orders subject to applicable taxes.

For further Careers advertising information contact: Joe Crofts 416-510-6816, jcrofts@northernminer.com, Toll free North America: 1-888-502-3456, (ext. 43729) Fax: 416-447-7658

Resumes Wanted Looking for a career in the mining and exploration industries?

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2016-06-07 8:03 PM

GLOBAL MINING NEWS · SINCE 1915

THE NORTHERN MINER / JUNE 13–19, 2016

11

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 SPOT PRICES COURTESY OF SCOTIABANK Tuesday, June 7, 2016 Precious Metals Gold Silver Platinum Palladium Base Metals Nickel Copper Lead Zinc

Price (US$/oz.)

Change $1241.10 +30.60 $16.31 +0.25 $986.00 -7.00 $555.00 12.00 Price (US$/tonne) Change $8565.00 -95.00 $4560.00 -127.50 $1726.00 -15.50 $1998.50 -28.50

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, June 6, 2016 (change from May 31, 2016 in brackets): Aluminium Alloy 14100 (-300) Aluminium 2501625 (-27475) Copper 174400 (+22675) Lead 185425 (-50) Nickel 395760 (-6006) Tin 7130 (-65) Zinc 379875 (-825)

TSX SHORT POSITIONS

PRODUCER AND DEALER PRICES

TSX WARRANTS

Thermal Coal CAPP: US$43.50 per short ton Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$40.50 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$8.80 Coal: CME Group Central Appalachian Futures July 2016: US$39.63 Aug. 2016: US$39.63 Cobalt: US$10.89/lb.

Copper: US$2.13/lb.

Copper: CME Group Futures July 2016: US$2.049/lb.; Aug. 2016: US$2.053/lb Ferro-Chrome: US$1.77/kg Ferro Titanium: US$3.50/kg FerroTungsten: US$23.12/kg Ferrovanadium: US$14.70/kg Iridium: NY Dealer Mid-mkt US$520/tr oz.

Iron Ore 62% Fe CFR China-S: US$50.60/tonne Iron Ore Fines: US$56.46/tonne Iron Ore Pellets: US$72.89/tonne Lead: US$0.78/lb.

Magnesium: US$2.03/kg Manganese: US$2.01/kg Molybdenum Oxide: US$6.94/lb.

Phosphate Rock: US$115.00/tonne Potash: US$269.00/tonne Rhodium: Mid-mkt US$650.00/tr. oz.

Ruthenium: Mid-mkt US$42.00/tr. oz.

Silver: Handy & Harman Base: US$16.48 per oz.; Handy & Harman Fabricated: US$20.60 per oz.

Tantalite Ore: US$191.35/kg Tin: US$7.64/lb.

Uranium: U3O8, Trade Tech spot price: US$27.25; The UX Consulting Company spot price: US$27.25/lb.

Zinc: US$0.91/lb.

Prices current June 7, 2016

Alamos Gold (AGI.WT) - Wt buys sh @ $28.47 to Aug 30/18 Coeur Mining (CDM.WT) - Exercisable on a cashless basis. See TSX Bulletin 2013-0377 for calculation. To Apr 16/17 Dalradian Resources (DNA.WT.A) - Wt buys sh @ $1.5 to Jul 31/17 Dundee Precious Metals (DPM.WT.A) - Wt buys sh @ $3.25 to Nov 20/15 Franco Nevada (FNW.WT.A) - Wt buys sh @ $75 to Jun 16/17 Gran Colombia Gold (GCM.WT.A) - Wt buys sh @ $3.25 to Mar 18/19 HudBay Minerals (HBM.WT) - Wt buys sh @ $15 to Jul 20/18 Ivanhoe Mines (IVN.WT) - Wt buys sh @ $1.8 to Dec 10/15 MBAC Fertilizer (MBC.WT) - Wt buys sh @ $1 to Apr 17/19 New Gold A J (NGD.WT.A) - Wt buys sh @ $15 to Jun 28/17 Newmarket Gold (NMI.WT) - Wt buys 4.07 sh @ $9.17 to Mar 24/16 Oban Mining J (OBM.WT) - Wt buys 20 sh @ $3 to Aug 25/18 Osisko Gold Royalties (OR.WT) - Wt buys sh @ $36.5 to Feb 18/22 Quest Rare Minerals (QRM.WT) - Wt buys sh @ $0.4 to Jul 17/17 Royal Nickel (RNX.WT) - Wt buys sh @ $0.8 to Jul 11/16 Sandstorm Gold (SSL.WT.A) - Wt buys sh @ US$5 to Oct 19/15 (SSL.WT.B) - Wt buys sh @ US$14 to Sep 07/17 Vista Gold (VGZ.WT.U) - Wt buys sh @ $5 to Oct 22/15

Short positions outstanding as of May 27, 2016 (with changes from Apr 18, 2016) Largest short positions Gold Std Vents GSV 19100 -600 CB Gold CBJ 3000 1000 Largest increase in short position CBJ 3000 1000 CB Gold Gold Std Vents GSV 19100 -600 Largest decrease in short position GSV 19100 -600 Gold Std Vents CB Gold CBJ 3000 1000

DAILY METAL PRICES Daily Metal Prices Date Jun 6 Jun 3 Jun 2 Jun 1 May 31 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) Al Alloy 1535/1560 1530/1560 1530/1560 1530/1560 1535/1560 Aluminum 1546/1556.50 1542/1548 1557/1565.50 1543.50/1556 1547.50/1558.50 Copper 4705/4705 4687/4679 4599/4585 4600/4585 4698/4674 Lead 1727/1733 1723.50/1729 1726.50/1735 1673.50/1678 1691/1696 Nickel 8620/8685 8500/8530 8360/8400 8320/8360 8455/8510 Tin 16825/16775 16540/16500 16225/16175 15900/15850 16175/16200 Zinc 2014/2017 1994/2000 1993/1995 1906/1910 1923.50/1925 PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.)

Gold AM 1240.55 1211.00 1215.50 1216.25 1210.50 1240.50 1212.40 1214.50 1212.10 Gold PM 1244.00 Silver 16.40 16.10 15.98 15.95 15.95 Platinum 989.00 979.00 965.00 976.00 971.00 554.00 538.00 546.00 540.00 Palladium 556.00

EXCHANGE RATES Jun 3 1.2940 0.7730

Date US$ in C$ C$ in S$

Jun 2 1.3096 0.7636

Jun 1 1.3078 0.7647

May 31 1.3093 0.7637

May 30 1.3049 0.7663

Exchange rates (Quote Media, June 3, 2016)

C$ to AUS C$ to EURO C$ to YEN C$ to Mex Peso C$ to SA Rand

1.0485 0.6795 82.3300 14.3711 11.6540

C$ to UK Pound C$ to China Yuan C$ to India Rupee C$ to Swiss Franc C$ to S. Korea Won

0.5325 5.0769 51.8035 0.7542 898.8140

US to AUS US to EURO US to YEN US to Mex Peso US to SA Rand 1.3572 0.8797 106.5500 18.5954

US to UK Pound US to China Yuan US to India Rupee US to Swiss Franc US to S. Korea Won

0.6889 6.5648 66.7800 0.9759 1163.5900 Financial information provided by Fundata Canada Inc. ©Fundata Canada Inc. All rights reserved

LEGEND A – Australian Stock Exchange C – CNSX Canadian National Stock Exchange J – Johannesburg Stock Exchange L – London Stock Exchange M – Mexico 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 Alternext U.S. * – Denotes price in U.S.$

11_JUN13_MMMM.indd 11

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

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

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

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

Atlantic Gold (AGB.WT) - Wt buys sh @ $0.6 to Aug 20/18 Brazil Resources (BRI.WT) - Wt buys sh @ $0.75 to Dec 31/18 Jet Metal (JET.WT) - Wt buys sh @ $0.25 to Sep 16/19 Kilo Goldmines (KGL.WT) - Wt buys sh @ $0.15 to Mar 20/16 Mission Gold (MGL.WT) - Wt buys sh @ $0.17 to Sep 13/17 Monarques Gold (MQR.WT.A) - Wt buys sh @ $0.18 to Dec 15/17 Monarques Gold (MQR.WT) - Wt buys sh @ $0.2 to Dec 14/15 NexGen Energy (NXE.WT) - Wt buys sh @ $0.65 to Mar 26/16 Oceanic Iron Ore (FEO.WT.A) - Wt buys sh @ $0.65 to Nov 30/15 Oceanic Iron Ore (FEO.WT.B) - Wt buys sh @ $1 to Nov 30/15 Sunridge Gold (SGC.WT) - Wt buys sh @ $0.35 to Oct 18/17 West African Resources (WAF.WT) - Wt buys sh @ $0.4 to J an 17/17 West Kirkland Mining (WKM.WT) - Wt buys sh @ $0.3 to Apr 17/19

NORTH AMERICAN STOCK EXCHANGE INDICES

52-week

Index Jun 3 Jun 2 Jun 1 May 31 May 30 High Low S&P/TSX Composite 14226.78 14136.99 14063.54 14065.78 14086.67 15527.30 12400.15 S&P/TSXV Composite 693.72 678.33 676.02 678.09 670.42 1050.26 883.52 S&P/TSX 60 830.37 825.94 821.00 821.06 823.92 896.74 709.99 S&P/TSX Global Gold 230.04 210.03 209.17 208.23 204.12 218.90 149.29 S&P/TSX Metals & Mining 537.81 509.91 508.07 509.00 505.71 954.68 691.69

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of May 27, 2016 (with changes from Apr 18, 2016) Largest short positions Lundin Mng LUN 46405998 2031242 Kinross Gold K 45115997 -1156579 Potash Corp SK POT 33865225 -91286 First Quantum FM 27273583 -3969150 B2Gold BTO 25948611 3489468 New Gold NGD 20924215 28685 Eldorado Gold ELD 18609395 -79313 Teck Res TCK.B 15530345 663460 Barrick Gold ABX 11750478 292564 IAMGOLD IMG 10772065 -460476 Suncor Energy SU 10695054 -657747 Silver Std Res SSO 9633458 1563923 Detour Gold DGC 9329551 -162837 Yamana Gold YRI 9018038 1552222 Goldcorp G 8663566 71710 Largest increase in short position Golden Star GSC 7638100 4399900 Nevsun Res NSU 3836485 3718090 B2Gold BTO 25948611 3489468 Americas Silvr USA 3071992 2294992 Asanko Gold AKG 3371940 2185486 Largest decrease in short position FM 27273583 -3969150 First Quantum Semafo SMF 642420 -3509635 K 45115997 -1156579 Kinross Gold Centerra Gold CG 3354062 -763810 Suncor Energy SU 10695054 -657747

TSX VENTURE WARRANTS

NEW NEW 52-WEEK 52-WEEK HIGHS HIGHS AND AND LOWS LOWS MAY MONTH 30–JUNE XX–XX, 3,2016 2016 170 New Highs Aben Res Aben Res* Abitibi Royalt Adamera Mnls* Africo Res Agnico Eagle Agnico Eagle* Alberta Star* Aldever Res* Algold Res Algold Res* Alix Res Alix Res* Alset Energy Alset Energy* Amato Expl American Lith AMI Res Anfield Res* Asanko Gold Asanko Gold* AsiaBaseMetals Aston Bay Astorius Res Aurgent Gold Aurion Res AZ Mining Berkeley Egy* Black Hills* Bravada Gold Bravura Vent Brunswick Res Cairo Res Canasil Res Candente Coppr Canoe Mng Vent Cantex Mn Dev Canuc Res Canuc Res* Cap-Ex Iron* Castle Mtn Mng Centenera Mng Centenera Mng* Colorado Res Colorado Res* Copper North M Cougar Mnls Critical Elem

Critical Elem* Darnley Bay* Decade Res Decade Res* Discovery Vent* Eagle Plains Ecuador Gold Ecuador Gold* Eloro Mnrls Elysee Dev Emerita Res Endeavour Mng Equitorial Ex* Era Res Inc* Europn Uran Rs Excelsior Mng Finore Mng Fjordland Exp Foran Mng Formation Mtls Four River Gem Intl Res Gitennes Expl Gldn Predator Gldn Predator* Globex Mng Globex Mng* Gold Ridge Exp Golden Sh Mng* Golden Valley Goldex Res* GoldQuest Mng GoldTrain Res GPM Metals GPM Metals* Granite Ck Gld Great Bear Res Highbury Proj IEMR Res Inception Mng * Jaxon Mnls K92 Mng Inc Kesselrun Res Kincora Copper Kiska Metals Kiska Metals* Klondike Gold Lucara Diam Lund Enterpr Manitou Gold

MDN Inc Mega Copper Metallis Res Mines Manage* Minnova Corp Monarques Res Monarques Res* Mountain Boy Mountain Boy* Mountain Prov Mountain Prov* Murchison Min Napier Vent Napier Vent* Natan Res New Dimen Res NGEx Res NGEx Res* Nighthawk Gold Northn Empire* Nrthn Vertex Nrthn Vertex* NV Gold Olivut Res Olivut Res* Oriental Non F Orocobre Oronova Res Pan Global Res Pangolin Dia Pelangio Expl Pelangio Expl* Precipitate Gl Prospero Silvr Rackla Mtls Rainforest Res* Redhill Res Revolver Res Rhyolite Res Rio Silver RJK Explor Rugby Mng Rupert Res Rusoro Mng Rye Patch Gold Rye Patch Gold* Savary Gold Savary Gold* Seafield Res* Silver Std Res

Silver Std Res* Southern Silvr* Standard Graph Standard Graph* Stelmine Can Stockport Expl* Syrah Res* Tasca Res Terreno Res TMAC Resource* TomaGold TriStar Gold TriStar Gold* Umbral Enrgy Umbral Enrgy* Velocity Mnrls Viscount Mng Wealth Mnrls Wealth Mnrls* Wildcat Expl* Wolfden Res Zephyr Mnls*

26 New Lows

ALX Uranium* Buccaneer Gold Canex Energy* Comstock Mng* Cyclone Uran* Declan Res Desert Gold* Finlay Minrls Highway 50 Gld* Houston Lake Intact Gold Intact Gold* INV Metals* Kingsrose Mng* Metals Creek* Nickel One Res* Oceanus Res* Portofino Res Ross River Rupert Res Tiller Res Tudor Gold * Wellgreen Plat* WPC Res* Zena Mng Zephyr Mnls*

CANADIAN GOLD MUTUAL FUNDS Fund Jun 3 ($) May 27 ($) Change ($) Change (%) YTDChange (%) MER (%) TotalAssets (M$) AGF Prec Mtls Fd MF 25.22 22.93 2.29 9.99 60.20 2.80 192.66 BMO Prec Mtls Fd A 20.06 18.36 1.71 9.31 64.92 2.40 72.79 11.51 10.16 1.35 13.29 74.67 0.63 119.06 BMO ZGD BMO ZJG 9.10 7.95 1.15 14.47 78.14 0.60 69.55 CIBC Prec Metal Fd A 12.85 11.58 1.27 10.93 54.93 2.62 64.04 Dyn Prec Metls Fd A 7.31 6.66 0.65 9.76 69.53 2.66 388.68 Horizons HEP 27.47 0.27 0.97 62.89 0.80 IGMacGloPrecMetCl A 9.46 8.54 0.92 10.79 76.18 2.75 90.56 iShares XGD 14.38 12.77 1.60 12.54 76.60 0.61 744.60 Mac Prec Met Cl A 52.85 47.57 5.28 11.11 77.58 2.51 133.58 NB Prec Met Fd Inv 14.26 12.70 1.56 12.28 72.90 2.46 43.37 RBC GblPreMetFd A 34.57 31.40 3.17 10.09 70.62 2.13 426.25 Sentry Pre Met Fd A 43.81 38.83 4.98 12.82 72.84 2.92 249.29 Sprott Gold&PrMinFdA 36.06 -0.16 -0.44 68.27 3.19 249.04 5.78 -0.04 -0.65 87.92 3.23 58.46 Sprott SilverEquCl A TD PreciousMetals-I 42.32 37.46 4.86 12.97 67.34 2.26 160.54

GLOBAL MINING NEWS · SINCE 1915

Reprints Reprints of any article published in The Northern Miner or on our website are available. We will provide them in a PDF format for $525. $350.

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

2016-06-07 7:49 PM

12

WWW.NORTHERNMINER.COM

JUNE 13–19, 2016 / THE NORTHERN MINER

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: MAY 30 - JUNE 3 (100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

A 37 Capital One 8 0.06 0.05 0.06 + 0.01 0.20 0.05 92 Resources V 773 0.10 0.08 0.09 + 0.01 0.13 0.03 Abcourt Mines* O 82 0.07 0.06 0.07 - 0.00 0.09 0.02 ABE Res V 111 0.03 0.02 0.03 + 0.01 0.08 0.02 Aben Res* O 37 0.14 0.11 0.14 + 0.03 100.52 0.03 Aben Res V 2039 0.21 0.08 0.18 + 0.11 0.24 0.06 Aberdeen Intl* O 96 0.13 0.11 0.11 - 0.01 0.16 0.07 Aberdeen Intl T 1081 0.16 0.15 0.16 - 0.01 0.24 0.10 6.89 + 0.84 6.23 1.53 Abitibi Royalt V 80 6.89 5.67 ABT Holdings* O 3 0.65 0.00 0.65 + 0.05 0.90 0.05 Active Growth V 247 0.07 0.04 0.06 + 0.02 0.10 0.02 Adamera Mnls* O 184 0.04 0.00 0.04 + 0.01 0.04 0.01 Adamera Mnls V 1221 0.06 0.05 0.06 - 0.01 0.07 0.01 Advance Gold V 82 0.04 0.00 0.04 - 0.01 0.06 0.01 Adventure Gold V 347 0.35 0.30 0.32 + 0.02 0.35 0.06 African Gold V 1277 0.09 0.07 0.09 + 0.01 0.10 0.03 Africo Res T 163 0.97 0.00 0.96 + 0.01 0.97 0.30 Agave Silver* O 2 0.05 0.00 0.04 + 0.00 0.07 0.01 0.06 + 0.01 0.09 0.01 Agave Silver V 86 0.08 0.06 Agnico Eagle T 5072 65.00 57.07 64.90 + 7.18 62.56 27.63 Agnico Eagle* N 12249 50.23 43.73 50.16 + 6.02 48.47 21.00 T 1226 119.75 116.24 118.97 + 0.09 139.99 104.70 Agrium Agrium* N 3437 92.10 88.64 91.88 + 0.60 109.46 79.94 O 123 0.13 0.11 0.13 + 0.00 0.21 0.08 Alabama Graph* Alabama Graph V 1165 0.17 0.15 0.16 - 0.01 0.25 0.11 Alacer Gold T 4041 3.11 2.86 3.04 + 0.10 3.57 2.08 Alamos Gold T 4285 9.37 7.91 9.33 + 1.21 9.73 3.27 7.21 + 0.97 7.53 2.27 Alamos Gold* N 9655 7.24 6.15 Alberta Star* O 60 0.21 0.16 0.21 + 0.05 0.20 0.12 Alchemist Mng 1055 0.07 0.05 0.06 - 0.02 0.08 0.01 Alcoa* N 96754 9.57 9.10 9.52 + 0.17 12.65 6.14 0.08 + 0.00 0.24 0.05 Alderon Iron* O 21 0.09 0.08 Alderon Iron T 223 0.12 0.11 0.11 - 0.01 0.29 0.07 Aldever Res* O 5 0.12 0.00 0.09 + 0.01 0.20 0.08 Aldever Res V 1431 0.15 0.11 0.13 + 0.02 0.32 0.09 0.20 + 0.01 0.20 0.12 Aldridge Mnrls V 317 0.20 0.19 Alexandria Min* O 205 0.05 0.04 0.05 - 0.00 0.06 0.01 Alexco Res* X 2078 1.22 1.03 1.19 + 0.10 1.42 0.22 Alexco Res T 870 1.58 1.31 1.55 + 0.13 1.84 0.35 Algold Res V 2457 0.30 0.24 0.30 + 0.05 0.29 0.07 Algold Res* O 59 0.22 0.18 0.22 + 0.04 0.21 0.07 0.19 - 0.02 0.29 0.10 Alianza Min V 87 0.20 0.19 Alix Res V 8269 0.14 0.09 0.12 + 0.03 0.14 0.04 Alix Res* O 348 0.11 0.08 0.08 + 0.03 0.11 0.03 Alliance Mng V 1346 0.03 0.03 0.03 - 0.01 0.04 0.01 Alliance Res* D 1150 16.20 14.25 15.87 + 1.43 30.11 9.95 Alloycorp Mng V 20 0.08 0.00 0.08 - 0.02 0.45 0.05 Almaden Mnls T 268 1.51 1.26 1.49 + 0.14 1.80 0.65 X 1663 1.18 1.01 1.14 + 0.11 1.42 0.48 Almaden Mnls* Almadex Min* O 181 0.31 0.25 0.31 + 0.02 0.34 0.01 Almadex Min V 192 0.41 0.34 0.40 + 0.04 0.43 0.13 Almonty Ind V 101 0.37 0.33 0.33 - 0.04 0.86 0.21 0.02 0.01 0.01 - 0.00 0.53 0.01 Alpha Nat Res* O 1844 Alphamin Res V 81 0.24 0.00 0.24 + 0.05 0.28 0.11 Alset Energy V 13419 0.59 0.27 0.56 + 0.20 0.52 0.02 Alset Energy* O 88 0.39 0.25 0.39 + 0.10 0.36 0.01 213 0.06 0.00 0.05 - 0.01 0.25 0.01 Alta Vista Vnt Altai Res V 91 0.09 0.08 0.09 + 0.01 0.09 0.05 0.41 - 0.10 0.70 0.06 Altair Gold V 38 0.50 0.40 Alternative ER V 44 0.05 0.04 0.04 - 0.01 0.08 0.03 Alternative ER* O 8 0.04 0.03 0.03 - 0.00 0.06 0.02 0.17 - 0.05 0.22 0.04 Altiplano Mnls V 32 0.21 0.17 Altitude Res V 60 0.07 0.06 0.06 - 0.02 0.21 0.02 Altius Mnrls T 155 10.81 10.33 10.64 + 0.08 15.47 7.39 0.06 + 0.01 0.09 0.02 Alto Vent V 294 0.06 0.05 Alturas Mnrls V 110 0.01 0.01 0.01 - 0.01 0.01 0.01 Alumina Inc* O 285 4.10 3.84 4.04 - 0.03 5.11 2.70 ALX Uranium V 2338 0.10 0.07 0.09 + 0.01 0.15 0.06 ALX Uranium* O 91 0.07 0.06 0.06 - 0.01 0.10 0.03 Am Creek Res V 861 0.10 0.07 0.09 + 0.02 0.12 0.03 Am CuMo Mng V 1842 0.11 0.08 0.10 + 0.01 0.15 0.06 Am CuMo Mng* O 521 0.08 0.07 0.08 + 0.00 0.12 0.04 AM Gold V 2 0.22 0.00 0.22 - 0.03 0.45 0.07 V 264 0.03 0.00 0.03 + 0.01 0.05 0.01 Am Manganese Am Manganese* O 212 0.01 0.01 0.01 + 0.00 0.04 0.01 Amarc Res V 328 0.07 0.06 0.07 + 0.01 0.14 0.04 Amarillo Gold V 811 0.29 0.22 0.25 - 0.04 0.41 0.04 Amato Expl V 817 0.03 0.01 0.03 + 0.02 0.03 0.01 0.35 - 0.03 1.21 0.29 Amazing OG* O 1 0.38 0.00 Amer Vanadium* O 415 0.03 0.01 0.01 - 0.00 0.08 0.00 Amer Vanadium V 648 0.03 0.02 0.02 - 0.01 0.10 0.02 1.54 + 0.27 1.62 0.05 American Lith V 3143 1.62 1.25 American Pot* O 16 0.08 0.08 0.08 + 0.02 0.47 0.03 American Pot 149 0.10 0.07 0.07 - 0.03 0.70 0.03 Americas Petro V 1111 0.26 0.24 0.25 - 0.01 0.33 0.15 Americas Silvr T 6177 0.35 0.30 0.34 + 0.03 0.40 0.09 Americas Silvr* O 891 0.27 0.23 0.27 + 0.03 0.32 0.04 Amerigo Res T 445 0.14 0.12 0.14 + 0.01 0.45 0.10 Amerigo Res* O 105 0.11 0.00 0.11 + 0.01 0.36 0.07 0.06 - 0.01 0.08 0.02 Amex Expl V 397 0.07 0.05 AMI Res V 94 0.07 0.07 0.07 + 0.01 0.07 0.03 Anaconda Mng T 537 0.07 0.06 0.07 + 0.01 0.08 0.04 Anfield Res* O 40 0.20 0.16 0.19 + 0.03 0.19 0.06 0.07 + 0.02 0.07 0.01 Angel Gold* O 12 0.07 0.00 Angel Gold V 146 0.09 0.07 0.09 + 0.02 0.09 0.01 Anglo American* O 310 4.53 4.14 4.46 + 0.02 5.76 1.57 Anglo American* O 9 9.00 0.00 8.40 - 0.52 15.88 3.13 Anglo-Bomarc V 275 0.19 0.11 0.19 + 0.08 0.30 0.10 15.89 + 2.51 16.63 5.64 AngloGold Ash* N 21792 15.96 13.17 Anthem United V 26 0.22 0.16 0.22 + 0.06 0.44 0.14 Antioquia Gold* O 61 0.06 0.06 0.06 + 0.00 0.08 0.01 Antioquia Gold V 300 0.09 0.06 0.08 - 0.02 0.11 0.02 Antofagasta* O 8 6.43 6.02 6.09 - 0.21 11.45 5.24 Apogee Silver V 39 0.28 0.00 0.28 - 0.02 0.58 0.11 Appia Energy 10 0.25 0.25 0.25 + 0.05 0.30 0.01 Applied Mrnls* O 160 0.17 0.14 0.15 - 0.01 0.61 0.11 AQM Copper V 355 0.12 0.09 0.11 + 0.02 0.15 0.03 Aquila Res* O 300 0.18 0.15 0.16 - 0.01 0.20 0.09 Arch Coal* O 177 0.41 0.38 0.39 - 0.01 10.35 0.11 Archon Mineral V 71 1.71 1.66 1.70 + 0.04 2.10 1.30 Arco Res V 102 0.06 0.00 0.05 - 0.03 0.08 0.03 Arctic Star V 199 0.02 0.02 0.02 - 0.01 0.10 0.01 Argentex Mng V 115 0.11 0.09 0.10 + 0.02 0.13 0.02 O 62 0.08 0.06 0.08 + 0.01 0.10 0.01 Argentex Mng* Argex Titanium* O 180 0.03 0.00 0.03 - 0.00 0.21 0.01 Argonaut Gold T 5289 3.10 2.50 3.06 + 0.46 3.30 0.78 Argonaut Gold* O 405 2.37 1.96 2.37 + 0.39 2.56 0.53 0.10 + 0.03 0.11 0.02 Argus Metals V 171 0.10 0.07 Arian Res V 113 0.02 0.02 0.02 + 0.01 0.05 0.01 Arian Silver* O 79 0.04 0.01 0.04 + 0.02 0.50 0.00 Arianne Phosph V 390 1.07 0.95 1.00 - 0.07 1.25 0.68 Arianne Phosph* O 146 0.83 0.75 0.78 - 0.03 0.98 0.52 Asanko Gold T 4468 4.94 3.95 4.93 + 0.87 4.72 1.77 Asanko Gold* X 2049 3.82 3.08 3.82 + 0.71 3.73 1.27 Asbestos Corp V 1 0.18 0.00 0.18 + 0.02 0.30 0.13 Ascot Res V 344 1.20 1.02 1.20 + 0.10 2.00 0.80 Ashburton Vent* O 193 0.05 0.04 0.05 + 0.01 0.06 0.00 Ashburton Vent V 4434 0.06 0.05 0.06 - 0.01 0.07 0.01 AsiaBaseMetals V 81 0.25 0.19 0.25 + 0.05 0.25 0.04 0.40 + 0.03 0.49 0.10 Aston Bay V 393 0.49 0.36 Astorius Res V 1783 0.04 0.03 0.04 + 0.01 0.03 0.01 Astur Gold V 320 0.06 0.04 0.04 - 0.02 0.08 0.01 ATAC Res V 976 0.78 0.69 0.74 + 0.04 0.88 0.26 Atacama Pac Gd V 42 0.38 0.33 0.37 - 0.02 0.49 0.14 Athabasca Mnls* O 25 0.23 0.21 0.23 - 0.00 0.54 0.12 Athabasca Mnls V 141 0.30 0.27 0.29 + 0.01 0.68 0.15 Athabasca Nclr V 1764 0.17 0.13 0.15 - 0.02 0.17 0.02 Atico Mng V 209 0.45 0.38 0.43 + 0.04 0.65 0.16 0.33 + 0.04 0.51 0.12 Atico Mng* O 74 0.33 0.29 Atlanta Gold* O 87 0.07 0.06 0.06 - 0.01 0.09 0.03 Atlanta Gold V 64 0.09 0.09 0.09 - 0.01 0.11 0.05 Atlantic Gold V 1387 0.64 0.55 0.62 + 0.03 0.73 0.17 Atom Energy V 250 0.04 0.03 0.03 - 0.01 0.12 0.03 Augustine Vent 574 0.08 0.07 0.08 + 0.02 0.09 0.03 Aura Mnls T 87 0.26 0.23 0.24 - 0.02 0.31 0.06 Aurcana Corp* O 117 0.24 0.19 0.22 + 0.02 0.32 0.07 Aurcana Corp V 492 0.30 0.24 0.28 + 0.02 0.41 0.09 AurCrest Gold V 226 0.04 0.03 0.04 + 0.01 0.05 0.01 Aureus Mng T 10061 0.07 0.06 0.07 + 0.01 0.83 0.05 Aureus Mng* O 1997 0.05 0.05 0.05 - 0.00 0.68 0.03 Aurgent Gold V 33 0.09 0.05 0.09 + 0.04 0.09 0.02 AuRico Metals * O 270 0.79 0.66 0.77 + 0.10 0.90 0.34 AuRico Metals T 704 1.03 0.85 0.99 + 0.12 1.15 0.47 Aurion Res V 233 0.24 0.16 0.20 + 0.04 0.24 0.03 Aurvista Gold V 740 0.15 0.13 0.14 + 0.01 0.16 0.03 Auryn Res* O 451 1.85 1.57 1.84 + 0.23 2.13 0.70 Avalon Adv Mat T 655 0.25 0.23 0.25 + 0.01 0.33 0.10 Avalon Adv Mat* O 125 0.20 0.17 0.19 + 0.01 0.26 0.07 Avarone Metals 1622 0.09 0.08 0.09 - 0.01 0.14 0.02 Avino Silver* X 1714 1.52 1.34 1.48 + 0.11 1.69 0.71 Avino Silver V 389 1.95 1.67 1.93 + 0.16 2.16 1.03 Avnel Gold T 1071 0.33 0.28 0.32 + 0.02 0.36 0.18 Avrupa Mnls V 101 0.13 0.11 0.12 + 0.01 0.17 0.07 Axmin Inc* O 380 0.02 0.01 0.02 + 0.00 0.06 0.00 Axmin Inc V 175 0.02 0.02 0.02 - 0.01 0.03 0.01 Azarga Uranium* O 40 0.26 0.22 0.22 - 0.04 0.29 0.18 Azarga Uranium T 206 0.31 0.00 0.31 + 0.01 0.40 0.24 Azimut Expl V 111 0.29 0.25 0.29 + 0.01 0.44 0.10 Azincourt Uran* O 12 0.05 0.04 0.05 + 0.00 0.07 0.02 Azincourt Uran V 385 0.07 0.05 0.07 + 0.01 0.10 0.04

B B2Gold* X 14617 2.05 1.75 2.03 + 0.28 2.31 0.60 B2Gold T 23784 2.65 2.28 2.64 + 0.33 2.93 0.86 Bacanora Mnls V 214 1.95 1.82 1.87 + 0.01 2.05 1.16 Baja Mng* O 172 0.01 0.01 0.01 + 0.00 0.03 0.00 Balmoral Res* O 504 0.66 0.58 0.66 + 0.05 0.75 0.23 Balmoral Res T 987 0.85 0.75 0.85 + 0.05 0.95 0.33 Bama Gold 14 0.17 0.00 0.10 - 0.02 0.20 0.07 Bannerman Res* O 9 0.03 0.02 0.03 + 0.01 0.05 0.01 Banro* X 4503 0.31 0.27 0.30 + 0.02 0.39 0.15 Banro T 402 0.40 0.35 0.39 + 0.02 0.48 0.21 Banyan Gold V 206 0.09 0.06 0.09 + 0.02 0.09 0.02 Barisan Gold V 2639 0.03 0.02 0.03 + 0.01 0.05 0.02

12-13_JUN13_StockTables.indd 12

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Barkerville Go* O 221 Barkerville Go V 1117 Barrick Gold* N 99212 Barrick Gold T 29046 Barsele Min* O 11 Barsele Min V 499 Battle Mtn Gld V 94 Battle Mtn Gld* O 84 Bayhorse Silvr V 63 Bayswater Uran* O 28 BCM Res V 162 Bear Creek Mng V 296 Beaufield Res V 692 Beaufield Res* O 48 Beeston Ent* O 2779 Bell Copper* O 33 Bellhaven Cp&G V 39 Bellhaven Cp&G* O 19 Belmont Res V 469 Belvedere Res V 127 Benton Res V 1848 Berkeley Egy* O 6 Bethpage Cap V 8 Bitterroot Res* O 30 Bitterroot Res V 164 Black Hills* N 1409 161 Black Isle Res V Black Mam Mtls V 142 Black Widow Rs V 1031 Blackheath Res V 140 Blind Crk Res V 9 Blue Rvr Res V 852 108 Blue Sky Uran V Bold Vent V 250 BonTerra Res* O 61 BonTerra Res V 612 Bravada Gold V 213 Bravada Gold* O 43 O 1759 Bravo Multinat* Bravura Vent 81 Brazil Mnrls* O 293628 Brazil Res V 1807 Brionor Res V 411 Brixton Mtls* O 21 Brixton Mtls V 69 V 285 Buccaneer Gold Buenaventura* N 18341 Buffalo Coal V 189 Bullfrog Gold* O 868 Bullion Gld Res V 48

0.42 0.37 0.39 - 0.02 0.51 0.15 0.52 0.49 0.51 + 0.01 0.63 0.20 19.23 16.40 19.18 + 2.56 19.73 5.91 24.88 21.41 24.81 + 3.14 25.44 7.89 0.58 0.49 0.51 - 0.07 0.58 0.05 0.74 0.61 0.70 - 0.01 0.84 0.08 0.66 0.61 0.63 - 0.01 0.68 0.09 0.51 0.46 0.49 - 0.00 0.52 0.06 0.13 0.00 0.13 + 0.02 0.20 0.05 0.02 0.01 0.02 + 0.00 0.04 0.00 0.30 0.20 0.24 - 0.06 0.32 0.02 2.36 1.96 2.36 + 0.28 2.68 0.50 0.10 0.09 0.10 - 0.01 0.11 0.03 0.08 0.07 0.08 + 0.01 0.09 0.02 0.00 0.00 0.00 + 0.00 0.02 0.00 0.03 0.02 0.03 + 0.01 0.04 0.00 0.22 0.20 0.22 + 0.02 0.40 0.03 0.19 0.15 0.15 - 0.01 0.33 0.02 0.11 0.08 0.08 + 0.01 0.12 0.02 0.06 0.04 0.04 - 0.03 0.09 0.01 0.08 0.07 0.08 + 0.01 0.10 0.03 0.50 0.50 0.50 - 0.00 0.50 0.31 0.06 0.00 0.06 + 0.01 0.10 0.03 0.03 0.00 0.03 + 0.00 0.05 0.02 0.04 0.03 0.03 - 0.01 0.10 0.03 62.31 59.16 61.88 + 2.07 62.26 36.81 0.04 0.04 0.04 - 0.02 0.05 0.03 0.12 0.11 0.12 - 0.01 0.12 0.02 0.05 0.03 0.05 + 0.01 0.08 0.01 0.13 0.12 0.13 + 0.01 0.30 0.08 0.07 0.05 0.07 + 0.02 0.07 0.03 0.05 0.04 0.04 - 0.01 0.08 0.03 0.11 0.07 0.08 + 0.01 0.18 0.04 0.05 0.05 0.05 + 0.01 0.06 0.02 0.30 0.28 0.29 - 0.00 0.37 0.08 0.40 0.35 0.38 + 0.01 0.51 0.09 0.25 0.20 0.20 + 0.01 0.25 0.02 0.17 0.14 0.16 + 0.01 0.17 0.01 0.05 0.03 0.03 - 0.02 0.12 0.02 0.21 0.18 0.20 + 0.01 0.21 0.02 0.00 0.00 0.00 - 0.00 0.00 0.00 1.59 1.41 1.57 + 0.08 1.76 0.38 0.02 0.02 0.02 - 0.01 0.03 0.01 0.27 0.26 0.26 - 0.01 0.35 0.03 0.38 0.34 0.36 - 0.02 0.45 0.05 0.04 0.00 0.04 + 0.01 0.04 0.02 11.15 9.02 11.11 + 1.59 10.96 3.30 0.02 0.00 0.02 + 0.01 0.05 0.01 0.07 0.06 0.06 - 0.01 0.07 0.01 0.13 0.00 0.13 + 0.05 0.15 0.05

C Cache Expl V 467 0.12 0.11 0.11 - 0.01 0.16 0.06 0.08 + 0.01 0.09 0.03 Cadan Res V 49 0.09 0.00 Cadillac Vent V 254 0.03 0.03 0.03 - 0.01 0.04 0.01 Cairo Res V 55 0.30 0.24 0.30 + 0.06 0.30 0.08 Caledonia Mng T 140 1.30 1.20 1.29 + 0.06 1.45 0.66 Caledonia Mng* Q 24 0.99 0.93 0.99 + 0.05 1.12 0.48 Calibre Mng V 1778 0.14 0.12 0.13 + 0.01 0.16 0.06 Calico Res* O 58 0.10 0.08 0.09 + 0.02 0.12 0.05 0.12 + 0.01 0.16 0.06 Calico Res V 215 0.12 0.11 California Gld* O 129 0.05 0.04 0.05 + 0.01 0.10 0.02 0.39 - 0.04 0.54 0.23 Callinex Mines V 378 0.43 0.37 Callinex Mines* O 267 0.34 0.28 0.31 - 0.02 0.44 0.17 Cameco Corp T 5475 15.43 14.83 15.17 - 0.09 19.54 14.56 Cameo Res V 743 0.05 0.04 0.05 - 0.01 0.10 0.02 0.16 - 0.02 0.25 0.07 Camino Mnls V 44 0.16 0.00 Can-Cal Res* O 65 0.07 0.07 0.07 - 0.01 0.07 0.03 Canada Coal V 109 0.03 0.02 0.03 + 0.01 0.03 0.01 Canadian Zeol* O 125 0.07 0.07 0.07 - 0.00 0.09 0.05 Canadian Zeol V 144 0.11 0.10 0.10 - 0.01 0.12 0.06 CanAlaska Uran V 555 0.60 0.48 0.52 - 0.08 0.65 0.09 O 149 0.46 0.37 0.38 - 0.08 0.50 0.06 CanAlaska Uran* Canamex Res V 388 0.05 0.04 0.05 + 0.01 0.09 0.03 O 72 0.03 0.03 0.03 + 0.00 0.07 0.02 Canamex Res* Canarc Res* Q 1915 0.05 0.05 0.05 + 0.00 0.12 0.03 0.07 + 0.01 0.15 0.04 Canarc Res T 3212 0.07 0.06 Canasil Res V 3320 0.39 0.22 0.33 + 0.10 0.39 0.03 Cancana Res V 405 0.19 0.14 0.19 + 0.01 0.30 0.13 Candelaria Mg V 209 0.18 0.15 0.15 + 0.02 0.21 0.06 Candente Coppr T 340 0.12 0.09 0.11 + 0.02 0.12 0.03 O 11 0.02 0.01 0.01 - 0.00 0.12 0.01 Canex Energy* CaNickel Mng* O 5 0.06 0.05 0.06 + 0.01 0.09 0.01 CaNickel Mng V 49 0.07 0.07 0.07 - 0.01 0.14 0.03 Canoe Mng Vent V 275 0.09 0.04 0.04 - 0.02 0.09 0.02 Canstar Res V 331 0.10 0.06 0.10 + 0.03 0.12 0.03 Canterra Mnls V 109 0.05 0.05 0.05 + 0.01 0.08 0.03 Cantex Mn Dev V 286 0.09 0.00 0.09 + 0.02 0.08 0.03 0.17 + 0.04 0.16 0.05 Canuc Res* O 16 0.17 0.13 Canuc Res V 73 0.23 0.19 0.23 + 0.06 0.30 0.05 Canyon Copper V 52 0.02 0.00 0.02 + 0.01 0.06 0.01 0.28 - 0.07 0.54 0.02 Canyon Gold* O 213 0.45 0.28 Cap-Ex Iron V 44 0.05 0.05 0.05 + 0.01 0.06 0.01 Capstone Mng T 1486 0.70 0.64 0.68 + 0.01 1.33 0.27 Caracara Silvr V 1504 0.02 0.01 0.01 - 0.01 0.02 0.01 Cardero Res T 135 0.17 0.14 0.14 - 0.02 0.26 0.08 Cardero Res* O 41 0.14 0.00 0.11 - 0.01 0.15 0.05 0.03 + 0.01 0.04 0.01 Carlin Gold V 728 0.03 0.02 Carmax Mng V 431 0.04 0.03 0.03 + 0.01 0.06 0.02 Carpathian Gld* O 413 0.05 0.03 0.05 + 0.01 0.05 0.00 0.11 - 0.02 0.16 0.04 Cartier Res V 139 0.13 0.11 Carube Copper* O 6 0.08 0.08 0.08 + 0.00 0.08 0.08 Carube Copper V 6 0.10 0.00 0.10 - 0.01 0.21 0.05 V 1064 0.09 0.08 0.09 - 0.01 0.12 0.02 Cascadero Copp Castle Mtn Mng V 4826 0.70 0.55 0.68 + 0.12 0.65 0.18 Castle Peak Mg V 142 0.03 0.02 0.03 + 0.01 0.04 0.01 Castle Res 6 0.01 0.00 0.01 - 0.01 0.15 0.01 0.07 + 0.02 0.25 0.04 Cava Res V 21 0.07 0.06 Caza Gold* O 60 0.03 0.03 0.03 + 0.00 0.04 0.01 Caza Gold V 273 0.05 0.03 0.05 + 0.02 0.07 0.02 CB Gold V 83 0.15 0.08 0.13 + 0.05 0.15 0.03 0.32 + 0.02 0.42 0.23 Cda Carbon V 279 0.32 0.30 Cda Rare Earth* O 3 0.03 0.02 0.02 - 0.01 0.03 0.01 Cda Strtgc Met V 1657 0.10 0.08 0.10 + 0.01 0.12 0.03 Cda Zinc Mtls V 657 0.18 0.14 0.18 + 0.04 0.25 0.10 Cdn Arrow V 710 0.01 0.01 0.01 - 0.01 0.01 0.01 Cdn Metals 209 0.39 0.34 0.35 - 0.01 0.44 0.06 Cdn Platinum V 1545 0.02 0.01 0.02 + 0.01 0.02 0.01 Cdn Zinc* Q 558 0.20 0.14 0.19 + 0.05 0.23 0.04 Cdn Zinc T 2520 0.26 0.18 0.26 + 0.07 0.29 0.06 Centamin T 129 2.00 1.72 2.00 + 0.21 2.30 1.07 Centaurus Diam* O 39 0.27 0.22 0.27 - 0.01 0.34 0.01 Centenera Mng V 31 0.18 0.15 0.18 + 0.04 0.17 0.02 O 14 0.13 0.11 0.13 + 0.02 0.11 0.02 Centenera Mng* Centerra Gold T 4071 7.27 6.39 7.25 + 0.48 8.67 5.51 Century Global T 50 0.26 0.00 0.23 - 0.01 0.36 0.15 Cerro Grande 22 0.04 0.04 0.04 - 0.01 0.05 0.01 Chalice Gold M T 49 0.15 0.14 0.15 + 0.01 0.21 0.09 Champion Bear V 294 0.09 0.06 0.08 + 0.02 0.15 0.03 Champion Bear* O 221 0.07 0.06 0.07 + 0.01 0.08 0.02 Champion Iron* O 58 0.21 0.14 0.19 + 0.05 0.23 0.09 Champion Iron T 1757 0.28 0.18 0.25 + 0.07 0.30 0.08 Chesapeake Gld* O 138 2.79 2.28 2.50 - 0.22 3.20 1.05 Chesapeake Gld V 175 3.66 3.00 3.25 - 0.26 4.00 1.39 Chevron* N 29596 102.28 99.72 100.66 - 1.36 104.26 69.58 0.12 - 0.03 0.15 0.02 Chilean Metals V 93 0.14 0.12 Chilean Metals* O 101 0.11 0.08 0.08 - 0.03 0.12 0.00 China Gold Int T 1714 2.37 2.08 2.35 + 0.25 2.72 1.52 China Mnls Mng V 82 0.01 0.01 0.01 - 0.01 0.02 0.01 102 0.01 0.00 0.01 - 0.00 0.01 0.00 China Mnls Mng* O CIM Intl Grp 189 1.35 1.20 1.20 - 0.10 1.50 1.15 0.10 + 0.03 0.20 0.06 CKR Carbon V 250 0.10 0.08 Clifton Mng* O 109 0.14 0.11 0.13 - 0.00 0.20 0.05 Cloud Peak En* N 5124 2.22 1.64 2.14 + 0.46 5.56 1.08 CMC Metals V 314 0.11 0.00 0.10 - 0.01 0.53 0.05 23136 8.44 7.10 8.37 + 1.09 8.73 1.62 Coeur Mng* N Colibri Res* O 13 0.11 0.09 0.11 + 0.01 0.12 0.02 Colibri Res V 63 0.15 0.12 0.15 + 0.03 0.16 0.02 Colombia Crest* O 84 0.00 0.00 0.00 + 0.00 0.00 0.00 Colombia Crest V 24 0.01 0.01 0.01 + 0.01 0.01 0.01 Colombian Mins V 196 0.07 0.06 0.06 - 0.01 0.09 0.02 Colonial Coal V 410 0.13 0.11 0.11 - 0.02 0.18 0.02 Colorado Res V 3439 0.45 0.33 0.44 + 0.12 0.40 0.05 Colorado Res* O 469 0.34 0.25 0.33 + 0.08 0.32 0.02 Colt Res V 2328 0.08 0.06 0.07 - 0.01 0.29 0.06 Colt Res* O 14 0.06 0.04 0.06 + 0.00 0.23 0.04 Columbus Gold* O 557 0.49 0.41 0.49 + 0.04 0.58 0.23 Columbus Gold T 466 0.63 0.54 0.63 + 0.06 0.75 0.31 Comstock Mng* X 2007 0.41 0.34 0.38 + 0.03 0.75 0.34 Comstock Mtls V 163 0.20 0.12 0.17 + 0.03 0.25 0.05 Comstock Mtls * O 21 0.12 0.10 0.12 + 0.02 Condor Res V 819 0.08 0.07 0.07 - 0.01 0.10 0.02 Cons Woodjam V 126 0.04 0.04 0.04 - 0.01 0.09 0.02 CONSOL Energy* N 28727 15.74 14.77 15.66 + 0.81 28.42 4.54 Constant Mtl V 860 0.08 0.07 0.08 - 0.01 0.17 0.05 Contintl Gold T 1763 2.64 2.37 2.61 + 0.20 3.28 1.28 Contintl Gold* O 185 2.04 1.83 2.00 + 0.15 2.65 0.88 Copper Fox Mtl V 748 0.13 0.12 0.13 + 0.01 0.24 0.11 Copper Fox Mtl* O 230 0.10 0.00 0.10 + 0.01 0.19 0.08 Copper Mtn Mng* O 44 0.36 0.35 0.35 - 0.01 1.04 0.23 Copper Mtn Mng T 786 0.50 0.47 0.50 + 0.03 1.33 0.33 Copper North M V 592 0.20 0.02 0.15 - 0.05 0.55 0.15 Copper Reef Mg 252 0.03 0.02 0.03 - 0.01 0.04 0.01 Copperbank Res* O 12 0.04 0.02 0.03 - 0.00 0.05 0.01 Coral Gold V 205 0.20 0.16 0.20 + 0.02 0.23 0.05 Corazon Gold V 41 0.27 0.23 0.23 - 0.04 0.30 0.18 Cordoba Mnls V 358 0.66 0.57 0.63 + 0.06 1.00 0.10 Corex Gold V 435 0.17 0.15 0.15 - 0.01 0.21 0.03 Cornerstone Mt V 206 0.03 0.02 0.03 + 0.01 0.04 0.01 Coro Mining T 1795 0.10 0.09 0.10 + 0.01 0.21 0.02 Corvus Gold T 182 0.98 0.80 0.95 + 0.10 1.12 0.33 Corvus Gold* O 27 0.74 0.64 0.74 + 0.09 0.89 0.25 Cougar Mnls V 281 0.82 0.50 0.50 - 0.15 0.82 0.06 Crazy Horse Res V 247 0.02 0.02 0.02 - 0.01 0.07 0.01 Critical Elem V 5287 0.75 0.54 0.71 + 0.12 0.72 0.14 Critical Elem* O 641 0.58 0.41 0.58 + 0.12 0.53 0.10 Crown Mining V 119 0.13 0.11 0.12 - 0.02 0.20 0.03

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Crystal Pk Min* O 18 Crystal Pk Min V 383 CTGX Mining* O 7 Cyclone Uran* O 2717 Cypress Dev* O 229 Cypress Dev V 268 Cyprium Mng V 1140

0.29 0.27 0.29 - 0.00 0.32 0.11 0.39 0.35 0.38 - 0.01 0.42 0.13 0.07 0.00 0.05 - 0.01 0.11 0.00 0.00 0.00 0.00 + 0.00 0.01 0.00 0.12 0.11 0.12 + 0.01 0.16 0.01 0.17 0.13 0.17 + 0.02 0.20 0.02 0.08 0.06 0.07 - 0.02 0.19 0.06

Dajin Res* O 956 Dakota Ter Res* O 5 Daleco Res* O 28 Dalradian Res* O 658 Dalradian Res T 1841 Damara Gold V 63 Darnley Bay V 580 Darnley Bay* O 60 Debut Dmds 94 Decade Res V 5976 Decade Res* O 2105 Defiance Silvr* O 45 Defiance Silvr V 523 Del Toro Silvr* O 3070 Denison Mines T 2044 Denison Mines* X 1670 Desert Gold V 5 Detour Gold T 5593 Diamante Min* O 515 Diamcor Mng V 80 Diamcor Mng* O 33 Diamond Fields V 262 Dios Expl V 72 V 17416 Discovery Vent Discovery Vent* O 484 DNI Metals 232 DNI Metals* O 114 Dolly Vard Sil* O 47 Dolly Vard Sil V 157 Dominion Diam T 522 Dominion Diam* N 1447 Dorex Mnrls V 121 Double Crn Res* O 2010 V 832 Doubleview Cap DRDGOLD* N 1734 Dundee Prec Mt T 806 Duran Vent V 59 Durango Res V 901 Durango Res* O 25 DuSolo Fertil V 99 DuSolo Fertil* O 36 167 Dynacor Gld Mn T DynaResource* O 6 Dynasty Gold V 2784 Dynasty Met&Mn* O 45 Dynasty Met&Mn T 861 Eagle Plains V 562 East Africa V 225 Eastern Platin* O 7 Eastern Platin T 850 Eastmain Res T 2990 Eco Oro Mnls T 73 Ecuador Gold* O 18 El Capitan Prc* O 2985 Elcora Res V 198 Elcora Res* O 20 N 34790 Eldorado Gold* Eldorado Gold T 20011 Electra Stone V 918 Eloro Mnrls V 264 Ely Gold & Mnl* O 315 Elysee Dev V 157 Emerita Res V 3622 Emgold Mng V 139 Emgold Mng* O 93 Encanto Potash* O 298 V 1465 Encanto Potash Endeavour Mng T 3297 Endeavour Mng* O 202 N 11416 Endeavr Silver* Endeavr Silver T 1352 Endurance Gold V 141 Energizer Res* O 382 Energizer Res T 1861 Energy Fuels T 196 Energy Fuels* X 1075 Ensurge* O 260 Entree Gold* X 322 Entree Gold T 96 Equitas Res* O 751 Equitas Res V 4941 Equitorial Ex V 6703 Equitorial Ex* O 28 Era Res Inc V 17 Erdene Res Dev T 1557 56 Erdene Res Dev* O Erin Ventures V 378 Eros Res Corp V 120 Eros Res Corp V 120 Ethos Gold V 213 Ethos Gold* O 89 Eurasian Mnls V 45 Eurasian Mnls* X 200 Eureka Res V 161 EurOmax Res V 48 Europn Uran Rs V 102 Everton Res V 2513 Everton Res* O 54 Evolving Gold 97 Evolving Gold* O 47 Evrim Res V 124 Excalibur Res* O 224 Excellon Res* O 344 Excellon Res T 1615 Excelsior Mng* O 72 Exeter Res* X 1018 Exeter Res T 254 ExGen Res Inc V 2751 Expedition Mng* O 3 Explor Res* O 145 Explor Res V 1689 Fairmont Res V 12659 Falco Res V 1532 Falcon Gold V 64 Fancamp Expl V 930 Fieldex Expl V 477 Finore Mng 236 Firesteel Res V 253 O 79 Firma Holdings* First Majestic T 7797 First Majestic* N 23936 V 4850 First Mg Fin First Mg Fin * O 4184 First Point T 304 First Quantum T 28579 Fission 3.0 V 470 Fission Uran T 1379 Fission Uran* O 516 Fjordland Exp V 1311 Flinders Res* O 111 Flinders Res V 158 Focus Graphite V 779 Focus Graphite* O 300 Focus Vent V 700 Foran Mng V 1455 Formation Mtls T 3580 Forsys Metals T 488 Fortescue Mtls* O 5 Fortuna Silvr T 2620 Fortuna Silvr* N 4175 Fortune Bay T 14 Fortune Mnrls T 1512 Fortune Mnrls* O 269 Forum Uranium V 160 Forum Uranium* O 234 Four River V 28 Fox River Res 322 Franco-Nevada* N 3700 Franco-Nevada T 3492 Franklin Mng* O 22 Freegold Vent T 324 Freeport McMo* N 171202 Fresnillo plc* O 13 Frontline Gold V 824

0.18 0.16 0.17 + 0.00 0.24 0.04 0.06 0.00 0.06 - 0.00 0.13 0.05 0.04 0.04 0.04 - 0.01 0.10 0.01 0.84 0.74 0.82 + 0.07 1.04 0.45 1.14 0.95 1.04 + 0.05 1.32 0.62 0.05 0.05 0.05 - 0.01 0.12 0.04 0.15 0.13 0.13 - 0.01 0.18 0.01 0.10 0.07 0.10 + 0.03 0.07 0.00 0.03 0.00 0.02 - 0.01 0.03 0.01 0.10 0.05 0.09 + 0.04 0.08 0.01 0.07 0.04 0.07 + 0.03 0.06 0.00 0.18 0.16 0.18 + 0.02 0.20 0.04 0.24 0.20 0.23 + 0.03 0.27 0.06 0.00 0.00 0.00 - 0.00 0.04 0.00 0.70 0.61 0.67 + 0.06 1.04 0.48 0.54 0.48 0.52 + 0.04 0.85 0.35 0.10 0.00 0.10 - 0.05 0.40 0.08 29.79 24.61 29.69 + 4.54 30.50 10.62 0.46 0.24 0.45 + 0.17 0.95 0.17 1.25 1.14 1.19 + 0.05 1.45 0.65 0.96 0.84 0.95 + 0.08 1.15 0.46 0.03 0.00 0.03 + 0.01 0.03 0.01 0.15 0.12 0.13 + 0.01 0.19 0.04 0.19 0.13 0.17 + 0.03 0.25 0.10 0.14 0.10 0.14 + 0.04 0.20 0.07 0.06 0.05 0.05 - 0.01 0.10 0.04 0.05 0.00 0.04 + 0.01 0.12 0.03 0.22 0.17 0.20 + 0.03 0.30 0.08 0.27 0.23 0.27 - 0.03 0.45 0.11 14.04 13.25 13.93 + 0.56 23.80 9.96 10.85 10.08 10.77 + 0.49 19.40 7.27 0.03 0.03 0.03 - 0.01 0.04 0.01 0.02 0.01 0.02 - 0.00 0.02 0.01 0.13 0.10 0.13 + 0.03 0.18 0.06 5.12 4.38 5.12 + 0.59 6.05 1.10 2.82 2.40 2.71 + 0.21 3.14 0.84 0.11 0.10 0.10 - 0.01 0.20 0.07 0.12 0.10 0.11 + 0.01 0.21 0.03 0.09 0.09 0.09 - 0.00 0.15 0.02 0.05 0.04 0.04 - 0.01 0.22 0.03 0.04 0.04 0.04 + 0.01 0.18 0.02 2.16 1.90 2.12 + 0.16 2.32 1.30 1.35 1.25 1.30 - 0.05 2.00 0.80 0.02 0.01 0.02 + 0.01 0.03 0.01 0.11 0.00 0.10 - 0.01 0.60 0.08 0.15 0.12 0.13 - 0.02 0.78 0.10 0.14 0.11 0.14 + 0.03 0.14 0.05 0.14 0.11 0.13 + 0.01 0.16 0.03 0.84 0.78 0.82 + 0.03 1.54 0.47 1.19 1.02 1.10 - 0.05 2.00 0.61 0.54 0.45 0.54 + 0.08 0.63 0.28 0.33 0.00 0.33 + 0.01 0.81 0.25 0.33 0.30 0.33 + 0.03 0.30 0.13 0.06 0.04 0.06 + 0.01 0.10 0.03 0.42 0.38 0.40 - 0.02 0.75 0.15 0.33 0.32 0.32 - 0.00 0.55 0.20 4.73 4.14 4.67 + 0.44 5.16 1.87 6.12 5.35 6.07 + 0.57 6.65 2.67 0.09 0.07 0.08 - 0.02 0.14 0.04 0.28 0.23 0.27 + 0.06 0.25 0.09 0.11 0.09 0.11 + 0.01 0.12 0.02 0.27 0.22 0.26 + 0.05 0.27 0.17 0.12 0.09 0.12 + 0.03 0.11 0.02 0.03 0.00 0.03 + 0.01 0.04 0.01 0.02 0.02 0.02 + 0.00 0.03 0.00 0.08 0.07 0.08 + 0.00 0.14 0.03 0.11 0.10 0.10 - 0.01 0.18 0.05 19.74 16.74 19.74 + 2.90 19.63 4.35 15.22 12.83 15.22 + 2.34 15.23 4.40 3.47 2.90 3.46 + 0.41 4.28 1.00 4.49 3.80 4.47 + 0.48 5.36 1.46 0.04 0.04 0.04 - 0.02 0.08 0.02 0.07 0.06 0.06 - 0.00 0.10 0.03 0.10 0.08 0.08 - 0.01 0.13 0.03 3.14 2.82 3.07 + 0.20 6.59 2.47 2.42 2.15 2.37 + 0.16 5.35 1.81 0.03 0.03 0.03 + 0.00 0.09 0.01 0.33 0.29 0.30 - 0.02 0.40 0.17 0.41 0.38 0.39 - 0.02 0.53 0.25 0.07 0.05 0.06 + 0.01 0.17 0.02 0.08 0.07 0.08 + 0.02 0.22 0.05 0.06 0.04 0.06 + 0.01 0.15 0.02 0.04 0.00 0.04 - 0.00 0.12 0.03 0.28 0.00 0.28 - 0.01 0.50 0.09 0.38 0.29 0.38 + 0.05 0.55 0.11 0.29 0.26 0.28 - 0.01 0.42 0.08 0.05 0.04 0.04 - 0.01 0.11 0.04 0.18 0.17 0.17 - 0.01 0.20 0.09 0.18 0.17 0.17 - 0.01 0.20 0.09 0.29 0.25 0.26 + 0.01 0.34 0.11 0.25 0.20 0.20 - 0.05 0.27 0.09 1.15 0.00 1.07 - 0.06 1.34 0.48 0.93 0.81 0.86 - 0.01 1.03 0.35 0.11 0.09 0.10 - 0.02 0.13 0.04 0.52 0.00 0.52 + 0.06 0.62 0.21 0.27 0.02 0.20 + 0.05 0.27 0.05 0.07 0.05 0.06 + 0.01 0.08 0.01 0.06 0.04 0.06 + 0.01 0.06 0.00 0.24 0.00 0.21 - 0.01 0.25 0.02 0.18 0.15 0.17 + 0.01 0.23 0.02 0.30 0.27 0.30 + 0.06 0.35 0.10 0.04 0.03 0.04 + 0.01 0.06 0.00 0.93 0.76 0.90 + 0.05 1.13 0.14 1.21 1.00 1.17 + 0.06 1.40 0.20 0.31 0.29 0.30 - 0.00 0.31 0.12 0.84 0.70 0.84 + 0.07 1.07 0.29 1.08 0.92 1.08 + 0.04 1.34 0.39 0.01 0.01 0.01 + 0.01 0.03 0.01 0.14 0.11 0.11 - 0.02 0.22 0.11 0.16 0.11 0.13 - 0.03 0.18 0.03 0.19 0.16 0.18 - 0.01 0.24 0.04 0.19 0.07 0.13 + 0.05 0.19 0.02 0.98 0.85 0.92 - 0.01 1.00 0.21 0.03 0.03 0.03 + 0.01 0.08 0.01 0.05 0.04 0.05 + 0.01 0.05 0.02 0.04 0.03 0.03 - 0.01 0.05 0.01 0.06 0.06 0.06 + 0.01 0.06 0.01 0.02 0.02 0.02 + 0.01 0.03 0.01 0.04 0.04 0.04 - 0.00 0.25 0.02 15.25 12.80 15.19 + 1.70 15.78 3.50 11.79 10.08 11.76 + 1.41 12.23 2.40 0.73 0.62 0.72 + 0.08 0.84 0.25 0.57 0.48 0.56 + 0.07 0.67 0.19 0.08 0.07 0.08 + 0.01 0.10 0.04 9.24 8.19 9.15 + 0.23 18.56 2.15 0.09 0.09 0.09 + 0.01 0.14 0.06 0.65 0.61 0.64 + 0.01 1.16 0.53 0.50 0.46 0.50 + 0.03 0.94 0.39 0.08 0.06 0.07 + 0.01 0.08 0.01 0.35 0.33 0.35 + 0.01 0.47 0.09 0.47 0.42 0.43 - 0.02 0.60 0.12 0.15 0.13 0.14 - 0.01 0.30 0.07 0.12 0.10 0.11 - 0.01 0.23 0.04 0.09 0.08 0.09 + 0.01 0.24 0.05 0.27 0.18 0.25 + 0.09 0.27 0.05 0.63 0.37 0.57 + 0.20 0.63 0.09 0.07 0.06 0.06 - 0.01 0.23 0.06 2.28 0.00 2.28 + 0.17 2.80 1.00 8.06 6.94 8.05 + 0.91 8.60 2.65 6.23 5.35 6.22 + 0.73 6.69 2.00 0.32 0.00 0.31 - 0.01 0.43 0.25 0.12 0.09 0.12 + 0.01 0.14 0.02 0.09 0.00 0.09 + 0.02 0.11 0.01 0.14 0.12 0.13 - 0.01 0.20 0.04 0.13 0.09 0.09 - 0.04 0.14 0.03 0.34 0.30 0.30 - 0.03 0.34 0.05 0.06 0.05 0.06 + 0.01 0.06 0.03 69.94 62.27 69.62 + 6.81 71.48 38.20 90.50 80.91 90.13 + 8.33 91.61 49.96 0.00 0.00 0.00 - 0.00 0.00 0.00 0.19 0.17 0.19 + 0.01 0.27 0.05 11.50 10.27 11.11 - 0.03 21.17 3.52 16.10 14.63 16.10 + 1.47 16.92 8.70 0.03 0.02 0.02 + 0.01 0.03 0.01

Gabriel Res T 771 Gainey Capital V 88 Galane Gold V 751 Galway Mtls V 218 Garibaldi Res V 561 Gem Intl Res V 272 General Moly T 21 General Moly* X 313 Genius Props 818 Geodex Mnrls V 174 Geologix Expl* O 284 Geomega Res V 165 Gespeg Cop Res V 148 GGL Res V 209 Gitennes Expl V 4974 Gldn Predator* O 34 Gldn Predator V 757 Glen Eagle Res V 125 Glencore Plc* O 599 Global Gold* O 22 Global Hunter V 236

0.26 0.23 0.25 + 0.01 0.48 0.12 0.20 0.15 0.17 + 0.02 0.30 0.10 0.05 0.04 0.05 + 0.01 0.13 0.03 0.14 0.12 0.14 + 0.02 0.18 0.09 0.09 0.08 0.09 + 0.01 0.18 0.05 0.13 0.10 0.10 - 0.01 0.13 0.04 0.53 0.43 0.53 + 0.10 1.00 0.22 0.38 0.33 0.38 + 0.03 0.82 0.15 0.04 0.04 0.04 - 0.01 0.11 0.02 0.09 0.08 0.08 + 0.01 0.30 0.05 0.05 0.05 0.05 + 0.00 0.06 0.01 0.19 0.16 0.18 - 0.01 0.21 0.06 0.05 0.04 0.04 - 0.01 0.05 0.02 0.04 0.03 0.03 - 0.01 0.05 0.01 0.04 0.00 0.03 + 0.02 0.01 0.01 0.54 0.45 0.54 + 0.08 0.50 0.06 0.76 0.53 0.74 + 0.15 0.66 0.07 0.10 0.09 0.10 - 0.01 0.16 0.03 3.96 3.58 3.92 + 0.03 9.15 1.95 0.01 0.01 0.01 + 0.00 0.05 0.00 0.03 0.00 0.03 + 0.01 0.07 0.01

D-F

G-H

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Globex Mng* O 107 Globex Mng T 623 GMV Minerals V 2368 V 197 GobiMin GoGold Res T 1068 Gold & Silver* O 4241 859 Gold Bulln Dev* O Gold Bulln Dev V 7335 31829 Gold Fields* N Gold Jub Cap V 1371 943 Gold Mng USA* O 37 Gold Mtn Mng V 39 Gold Reach Res V Gold Reserve* O 866 Gold Reserve V 272 X 3910 Gold Resource* Gold Ridge Exp V 1036 Gold Std Vents V 1790 Goldbelt Emp V 321 Goldcliff Res V 149 T 16887 Goldcorp Goldcorp* N 47332 Golden Arrow V 1099 Golden Dawn Ml V 2023 Golden Eagle* O 10 V 829 Golden Goliath Golden Hope V 38 Golden Matrix* O 3725 Golden Mnls T 414 373 Golden Peak Mn V Golden Queen T 230 O 512 Golden Queen* Golden Reign V 367 Golden Secret V 140 54 Golden Sh Mng V Golden Star T 550 Golden Star* X 7513 Golden Valley V 1736 Goldex Res V 21 O 1225 Goldgroup Mng* T 4010 Goldgroup Mng GoldON Res V 100 V 2017 GoldQuest Mng V 1202 Goldrock Mines O 749 Goldsource Min* V 1181 Goldsource Min V 670 Goldstream Mnl Goldstrike Res V 264 GoldTrain Res 38 Gonzaga Res V 73 Gossan Res V 78 Gowest Gold V 1065 Gowest Gold* O 889 GPM Metals* O 140 GPM Metals V 4596 O 161 Gran Colombia* 422 Granite Ck Gld V Graniz Mondal V 147 O 789 Graphite Corp* Graphite One V 6583 Graphite One* O 938 648 Great Bear Res V 697 Great Lakes Gr V 151 Great Lakes Gr* O Great Panther T 2162 Great Panther* X 7492 82 Great Quest Fe V Great Thunder V 2659 O 482 Great Western* 332 Green Swan Cap V V 74 Greencastle Rs O 412 Greenland M&En* Grenville Gold V 10 Grizzly Discvr V 50 Grizzly Gold* O 31 Group Ten Mtls V 2188 450 GTA Res & Mng V Gungnir Res* O 515 Gungnir Res V 107 Gunpoint Expl V 69 T 3620 Guyana Gldflds 476 Happy Ck Mnrls V 22905 N Harmony Gold* V 53 Hawkeye Gld&Di V 749 Heatherdale Rs 42010 Hecla Mining* N HFX Holding V 116 Highbury Proj V 38 V 1190 Highland Copp 16 Highway 50 Gld V 23 Highway 50 Gld* O O 3 Hochschild Mg* V 899 Homestake Res O 78 Homestake Res* 364 Honey Badger E V T 847 Horizonte Mnls 51 Hornby Bay Mnl V Houston Lake V 189 HudBay Mnls* N 959 HudBay Mnls T 6636 Hudson Res* O 8 Hudson Res V 94 Hunt Mng* O 13

0.13 0.38 + 0.04 0.38 0.38 0.33 0.17 0.44 - 0.01 0.51 0.51 0.42 0.05 0.13 + 0.01 0.20 0.14 0.12 0.27 0.46 + 0.06 0.46 0.46 0.40 0.94 1.11 - 0.01 1.67 1.14 1.06 0.01 0.00 0.01 - 0.00 3120.00 0.00 0.11 0.06 0.07 - 0.03 0.11 0.01 0.14 0.08 0.09 - 0.05 0.16 0.02 2.04 4.21 + 0.71 4.76 4.23 3.47 0.19 0.16 0.19 + 0.04 0.28 0.07 0.02 0.01 0.02 + 0.00 0.19 0.01 0.10 0.00 0.09 - 0.02 0.18 0.02 0.19 0.16 0.16 - 0.03 0.25 0.08 2.19 3.92 + 1.37 5.90 4.20 2.48 3.06 5.09 + 1.62 8.00 5.22 4.12 1.14 3.40 + 0.42 3.88 3.49 2.82 0.12 0.07 0.11 + 0.01 0.12 0.01 2.19 1.95 2.10 + 0.04 2.35 0.40 0.02 0.04 + 0.01 0.10 0.04 0.04 0.01 0.02 - 0.01 0.03 0.02 0.02 13.55 23.65 + 2.00 25.35 23.72 21.36 18.26 + 1.66 20.24 9.46 18.30 16.41 0.17 0.70 + 0.08 0.83 0.71 0.61 0.16 0.14 0.15 + 0.01 0.21 0.07 0.00 0.02 + 0.01 0.02 0.02 0.00 0.01 0.04 + 0.01 0.05 0.04 0.03 0.16 0.19 + 0.03 0.64 0.19 0.16 0.03 0.00 0.00 - 0.03 3000.00 0.00 0.19 0.49 - 0.01 1.22 0.55 0.42 0.09 0.07 0.09 + 0.01 0.09 0.05 0.65 1.64 + 0.16 2.00 1.71 1.32 0.48 1.28 + 0.13 1.56 1.32 1.05 0.07 0.22 - 0.01 0.25 0.22 0.17 0.02 0.45 + 0.03 0.67 0.45 0.41 0.18 0.16 0.17 + 0.01 0.26 0.03 0.21 0.75 + 0.07 1.05 0.80 0.65 0.14 0.58 + 0.06 0.84 0.62 0.50 0.07 0.28 + 0.06 0.25 0.31 0.22 0.10 0.42 - 0.14 0.65 0.50 0.42 0.03 0.15 + 0.01 0.17 0.15 0.13 0.05 0.19 + 0.01 0.22 0.19 0.17 0.03 0.22 + 0.09 0.36 0.23 0.00 0.09 0.40 + 0.09 0.39 0.41 0.30 0.15 0.63 + 0.09 0.64 0.64 0.51 0.11 0.30 - 0.02 0.33 0.32 0.28 0.13 0.40 - 0.02 0.43 0.40 0.35 0.01 0.01 + 0.01 0.01 0.01 0.01 0.07 0.17 - 0.01 0.21 0.18 0.17 0.08 0.10 + 0.01 0.20 0.10 0.09 0.01 0.02 - 0.01 0.04 0.03 0.02 0.02 0.04 + 0.01 0.05 0.04 0.03 0.05 0.08 + 0.01 0.12 0.09 0.08 0.04 0.06 - 0.00 0.10 0.06 0.05 0.07 0.21 + 0.05 0.21 0.21 0.16 0.08 0.38 + 0.11 0.34 0.38 0.25 0.04 0.07 - 0.01 0.30 0.08 0.06 0.05 0.04 0.05 + 0.01 0.04 0.01 0.01 0.03 + 0.01 0.03 0.03 0.03 0.00 0.01 + 0.00 0.02 0.01 0.01 0.07 0.14 - 0.01 0.18 0.15 0.13 0.05 0.11 - 0.01 0.14 0.12 0.10 0.30 0.04 0.30 + 0.10 0.38 0.05 0.07 0.07 0.07 - 0.01 0.14 0.06 0.06 0.05 0.06 + 0.00 0.11 0.04 0.40 2.04 + 0.14 2.82 2.07 1.75 0.30 1.58 + 0.14 2.25 1.60 1.33 0.17 0.16 0.16 - 0.01 0.63 0.11 0.01 0.13 - 0.03 0.24 0.16 0.12 0.00 0.00 - 0.00 0.01 0.00 0.00 0.08 0.06 0.08 + 0.02 0.08 0.01 0.05 0.09 + 0.01 0.10 0.09 0.09 0.01 0.03 - 0.01 0.17 0.04 0.03 0.05 0.15 + 0.07 0.15 0.15 0.15 0.01 0.07 0.06 0.06 - 0.01 0.10 0.01 0.10 + 0.04 0.20 0.10 0.06 0.03 0.03 0.03 + 0.01 0.06 0.01 0.07 0.05 0.05 - 0.01 0.08 0.02 0.00 0.03 + 0.00 0.03 0.03 0.01 0.01 0.03 + 0.01 0.04 0.03 0.03 0.13 0.26 - 0.01 0.30 0.27 0.26 2.48 8.12 + 1.04 8.47 8.24 6.97 0.17 0.12 0.15 - 0.01 0.17 0.08 0.53 3.50 + 0.58 4.19 3.51 2.88 0.03 0.08 + 0.02 0.10 0.08 0.06 0.01 0.04 + 0.01 0.04 0.04 0.03 1.45 4.44 + 0.53 4.73 4.46 3.84 0.01 0.04 - 0.01 0.15 0.05 0.04 0.10 0.20 + 0.03 0.20 0.20 0.17 0.07 0.08 - 0.01 0.18 0.09 0.08 0.24 0.17 0.17 - 0.08 0.24 0.05 0.19 0.16 0.16 - 0.03 0.19 0.05 0.59 2.04 - 0.05 2.30 2.09 0.00 0.01 0.09 + 0.02 0.15 0.10 0.08 0.01 0.06 - 0.00 0.11 0.07 0.06 0.04 0.03 0.03 + 0.01 0.04 0.01 0.02 0.04 + 0.01 0.06 0.04 0.04 0.06 0.00 0.06 + 0.02 0.10 0.03 0.13 0.29 - 0.01 0.40 0.30 0.00 1.56 4.17 + 0.21 9.86 4.17 3.68 5.39 4.82 5.39 + 0.24 12.08 2.26 0.26 0.37 + 0.03 0.41 0.37 0.34 0.34 0.45 - 0.01 0.55 0.49 0.44 0.01 0.12 + 0.02 0.14 0.12 0.10

I-Minerals V 451 I-Minerals* O 27 28499 IAMGOLD* N IAMGOLD T 15680 Iberian Mnrls V 2071 IC Potash* O 74 IC Potash T 2132 Iconic Mnls V 367 IDM Mining* O 864 IEMR Res V 1463 iMetal Res V 108 IMPACT Silver V 702 O 193 Impala Platnm* O 5 Imperial Metal* 248 Imperial Metal T Inca One Gold V 1831 17 Inception Mng * O O 57 Independence G* V 472 Independence G Indico Res V 1206 Inform Res V 803 Infrastructure* O 627 Inspiration Mg 17 Intact Gold V 1774 Intact Gold* O 73 Integra Gold V 5938 Integra Gold* O 2103 Intgr Egy Sol* O 156010 Intigold Mines V 452 Intl Bethl Mng V 1870 Intl Lithium* O 97 Intl Lithium V 426 251 T Intl Tower Hil Intl Tower Hil* X 1256 INV Metals T 353 Inventus Mg V 175 InZinc Mining V 175 InZinc Mining* O 36 O 56 Ireland* Ironside Res V 14 Irving Res 35 123 Itoco Mg Corp* O O 1104 Ivanhoe Mines* Ivanhoe Mines T 4808 J.A.G. Mines V 257 Jaguar Mng* O 1564 Jaguar Mng V 1299 Jasper Mng V 28 Jaxon Mnls V 276 Jayden Res V 68 Jiulian Res V 118 V 5355 K92 Mng Inc K92 Mng Inc* O 1139 O 7 Kaizen Discvry* Kaizen Discvry V 164 O 648 Kaminak Gold* Kaminak Gold V 5644 V 512 Kapuskasing Gd Karnalyte Res T 195 Katanga Mng T 112 Kennady Diam V 184 Kermode Res V 651 Kerr Mines* O 128 Kerr Mines T 549 Kesselrun Res V 5395 Khalkos Expl V 212 Khan Res 1131 V 1157 Kincora Copper O 15 Kingsrose Mng* 74724 Kinross Gold* N Kinross Gold T 43595 166 Kirkland Lk Gd* O Kirkland Lk Gd T 3112 Kiska Metals* O 103 Kiska Metals V 2144 Kivalliq Enrgy V 575 Klondex Mns T 4717 Klondike Gold V 581 O 163 Klondike Gold* Klondike Silv V 306 V 708 Komet Resource

0.16 0.28 + 0.01 0.37 0.29 0.24 0.14 0.22 + 0.03 0.28 0.22 0.19 1.15 3.76 + 0.59 4.05 3.79 3.14 1.50 4.85 + 0.71 5.22 4.90 4.05 0.04 0.06 - 0.01 0.11 0.07 0.06 0.03 0.05 + 0.00 0.21 0.05 0.00 0.04 0.07 + 0.01 0.26 0.08 0.06 0.03 0.30 - 0.01 0.36 0.32 0.26 0.04 0.14 + 0.00 0.19 0.16 0.13 0.01 0.02 + 0.01 0.04 0.04 0.02 0.03 0.06 + 0.01 0.10 0.06 0.05 0.11 0.67 + 0.08 0.80 0.69 0.53 1.45 3.24 + 0.13 4.98 3.24 2.92 2.81 4.42 + 0.13 8.81 4.42 4.12 5.91 5.15 5.76 + 0.10 11.01 3.92 0.06 0.05 0.06 + 0.01 0.22 0.04 0.80 0.00 0.76 + 0.62 1.65 0.50 0.04 0.13 + 0.02 0.13 0.13 0.10 0.06 0.15 + 0.02 0.17 0.16 0.13 0.03 0.04 - 0.01 0.16 0.04 0.04 0.01 0.01 - 0.01 0.03 0.01 0.01 0.01 0.01 - 0.00 0.02 0.01 0.01 0.02 0.06 - 0.01 0.10 0.06 0.00 0.02 0.09 - 0.01 0.18 0.09 0.08 0.06 0.07 - 0.00 0.14 0.08 0.06 0.23 0.68 + 0.05 0.74 0.69 0.57 0.18 0.53 + 0.04 0.59 0.54 0.45 0.00 0.00 0.00 + 0.00 0.00 0.00 0.06 0.07 - 0.02 0.26 0.08 0.07 0.03 0.03 0.03 - 0.01 0.10 0.02 0.01 0.20 - 0.00 0.55 0.20 0.20 0.03 0.25 - 0.01 0.38 0.27 0.24 0.68 0.53 0.67 + 0.04 0.95 0.26 0.53 0.40 0.53 + 0.08 0.75 0.18 0.08 0.65 + 0.13 0.80 0.65 0.50 0.02 0.28 - 0.01 0.30 0.28 0.25 0.04 0.10 + 0.01 0.13 0.10 0.09 0.03 0.06 - 0.03 0.10 0.09 0.06 0.13 0.24 + 0.03 0.51 0.25 0.17 0.02 0.03 - 0.01 0.13 0.04 0.03 0.11 0.15 - 0.02 0.20 0.19 0.00 0.30 0.08 0.30 + 0.20 1.10 0.08 0.36 0.76 + 0.00 0.94 0.80 0.72 0.53 1.00 + 0.01 1.20 1.00 0.92 0.01 0.02 + 0.01 0.04 0.02 0.01 0.07 0.26 + 0.01 0.32 0.28 0.25 0.12 0.35 + 0.02 0.40 0.37 0.33 0.02 0.06 + 0.01 0.08 0.06 0.06 0.01 0.07 - 0.01 0.09 0.09 0.00 0.03 0.09 + 0.01 0.14 0.09 0.06 0.01 0.02 - 0.01 0.03 0.03 0.02 1.33 0.98 1.23 + 0.17 1.33 0.87 1.03 0.80 0.95 + 0.14 1.01 0.80 0.06 0.15 - 0.02 0.21 0.17 0.15 0.08 0.23 + 0.02 0.28 0.23 0.20 0.47 1.96 + 0.18 2.02 1.97 1.77 0.61 2.55 + 0.23 2.61 2.55 2.26 0.02 0.06 + 0.01 0.08 0.06 0.04 0.52 2.10 + 0.20 4.15 2.19 1.86 0.13 0.16 + 0.01 0.26 0.16 0.15 2.35 4.20 - 0.05 5.45 4.30 4.11 0.01 0.02 + 0.01 0.02 0.02 0.01 0.01 0.05 - 0.00 0.12 0.05 0.05 0.02 0.07 + 0.01 0.13 0.07 0.06 0.02 0.20 + 0.09 0.18 0.20 0.11 0.05 0.15 + 0.02 0.26 0.15 0.12 0.34 0.85 - 0.01 0.88 0.86 0.85 0.02 0.05 + 0.01 0.06 0.06 0.04 0.54 0.54 - 0.06 1.29 0.60 0.54 1.31 4.97 + 0.74 5.82 5.02 4.17 1.79 6.45 + 0.93 7.49 6.49 5.43 8.92 7.57 8.92 + 1.29 9.24 3.12 11.57 9.72 11.49 + 1.50 11.97 4.49 0.01 0.05 + 0.01 0.05 0.05 0.04 0.01 0.07 + 0.02 0.06 0.07 0.05 0.06 0.09 + 0.01 0.13 0.09 0.08 2.56 4.56 + 0.41 4.90 4.64 4.07 0.08 0.39 + 0.07 0.37 0.42 0.31 0.06 0.26 + 0.01 0.28 0.26 0.25 0.01 0.04 + 0.01 0.06 0.04 0.04 0.29 0.37 + 0.03 0.44 0.40 0.34

I-J-K

2016-06-07 7:41 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / JUNE 13–19, 2016

13

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

Week

12-month

Exc Volume High Low Last Change High Low

Kootenay Silvr V 2245

0.48 0.41 0.48 + 0.04 0.50 0.17

Labdr Iron Mns* O 79 Labrador Iron T 879 Lago Dourado V 84 Lakeside Mnrls V 303 Lamelee Iron V 816 Lara Expl V 386 Laramide Res T 181 Largo Res* O 33 Largo Res V 283 Latin Am Mnls V 305 Latin Am Mnls* O 192 Legend Gold* O 230 Legend Gold V 338 Lepanto Con Mg* O 237 Levon Res Ltd T 293 77 Levon Res Ltd * O Lexam VG Gold* O 441 Lexam VG Gold T 509 Li3 Energy* O 577 Liberty Star* O 15381 Lion One Mtls V 136 29 Lion One Mtls* O Lions Gate Mtl 13 Lithium Amer* O 1750 Lithium Amer T 3015 Lithium Corp* O 769 Lithium Expl* O 8443 LKA Gold* O 14 Lode-Star Mg* O 42 Lomiko Mtls* O 106 Lomiko Mtls V 2317 Loncor Res* O 82 Lone Star Gold* O 304 O 6 Lonmin plc* Lucara Diam T 3438 Luna Gold T 979 Luna Gold* O 882 Lund Enterpr V 4 Lundin Gold T 385 Lundin Mng T 7780 Lupaka Gold V 1001 Lydian Intl T 1444 Lydian Intl* O 192 Lynas Corp* O 125

0.01 0.00 0.01 + 0.01 0.02 0.00 12.40 11.44 12.37 + 0.83 17.44 6.85 0.13 0.10 0.11 - 0.01 0.15 0.05 0.01 0.01 0.01 + 0.01 0.02 0.01 0.02 0.02 0.02 - 0.01 0.04 0.01 0.91 0.84 0.89 + 0.03 1.04 0.20 0.25 0.23 0.25 - 0.02 0.38 0.15 0.46 0.40 0.45 - 0.00 0.68 0.08 0.60 0.53 0.57 - 0.04 0.84 0.11 0.10 0.10 0.10 - 0.01 0.30 0.05 0.08 0.08 0.08 - 0.00 0.11 0.06 0.03 0.02 0.02 - 0.00 0.05 0.01 0.04 0.03 0.03 - 0.01 0.06 0.02 0.01 0.01 0.01 - 0.01 0.02 0.00 0.28 0.24 0.27 + 0.01 0.34 0.09 0.22 0.19 0.22 + 0.02 0.26 0.07 0.19 0.15 0.18 + 0.01 0.23 0.04 0.23 0.21 0.23 - 0.01 0.29 0.05 0.02 0.02 0.02 - 0.00 0.04 0.01 0.00 0.00 0.00 - 0.00 0.01 0.00 0.64 0.55 0.60 + 0.02 0.74 0.24 0.47 0.41 0.47 + 0.04 0.59 0.18 0.05 0.05 0.05 + 0.01 0.06 0.01 0.67 0.60 0.61 - 0.03 0.80 0.34 0.86 0.78 0.80 - 0.05 1.00 0.26 0.10 0.08 0.10 + 0.02 0.13 0.02 0.01 0.00 0.01 - 0.00 0.45 0.00 0.44 0.32 0.32 - 0.12 0.53 0.10 0.03 0.03 0.03 + 0.00 0.05 0.01 0.04 0.03 0.03 + 0.00 0.04 0.02 0.05 0.04 0.05 + 0.01 0.05 0.03 0.13 0.11 0.11 + 0.00 0.15 0.01 0.01 0.00 0.00 + 0.00 0.01 0.00 2.81 0.00 2.80 + 0.22 224.00 0.55 4.29 3.96 4.25 + 0.22 4.24 1.42 0.20 0.14 0.17 - 0.02 0.21 0.03 0.15 0.10 0.13 - 0.00 0.16 0.02 0.14 0.10 0.10 - 0.05 0.14 0.02 6.28 5.54 6.10 + 0.38 6.51 3.46 4.41 4.14 4.39 - 0.01 5.90 2.98 0.17 0.12 0.15 - 0.02 0.19 0.04 0.35 0.30 0.34 + 0.02 0.56 0.19 0.27 0.24 0.27 + 0.02 0.46 0.13 0.05 0.04 0.04 - 0.01 0.10 0.02

L

M Macarthur Mnl* O 433 0.10 0.07 0.07 - 0.03 0.14 0.02 0.10 - 0.03 0.18 0.02 Macarthur Mnl V 7204 0.13 0.09 Maccabi Vent 109 0.10 0.08 0.08 - 0.02 0.14 0.08 17.33 + 1.75 18.58 8.13 MAG Silver T 925 17.61 15.40 MAG Silver* X 718 13.65 11.73 13.40 + 1.45 14.40 6.12 Magellan Gold* O 40 0.13 0.12 0.13 + 0.01 0.29 0.04 0.00 + 0.00 0.00 0.00 Magnus Intl* O 81 0.00 0.00 Majescor Res V 183 0.13 0.08 0.09 - 0.05 0.14 0.02 Makena Res V 4292 0.03 0.02 0.03 + 0.01 0.04 0.01 0.28 - 0.01 0.55 0.10 Malbex Res V 37 0.29 0.28 Mandalay Res T 1294 1.08 1.00 1.07 + 0.03 1.14 0.59 Mangazeya Mng V 139 0.04 0.04 0.04 + 0.01 0.06 0.01 Manitou Gold V 557 0.10 0.05 0.10 + 0.05 0.06 0.02 Manson Creek V 12 0.02 0.02 0.02 + 0.01 0.03 0.01 Marathon Gold T 675 0.32 0.28 0.31 + 0.03 0.33 0.11 0.25 - 0.01 0.29 0.11 Margaux Res V 46 0.25 0.15 Marlin Gold V 1253 0.47 0.34 0.45 + 0.07 0.60 0.15 Marlin Gold* O 176 0.35 0.28 0.35 + 0.06 0.49 0.10 186.73 - 5.10 193.87 108.31 MartinMarietta* N 4196 193.08 184.53 Mason Graphite* O 68 0.57 0.00 0.53 - 0.02 0.57 0.21 Mason Graphite V 428 0.76 0.68 0.69 - 0.07 0.76 0.30 V 36 0.38 0.34 0.34 - 0.04 0.49 0.17 Matachewan Con Matamec Expl V 780 0.06 0.06 0.06 - 0.01 0.07 0.02 Matmown* O 60 0.04 0.04 0.04 - 0.00 0.19 0.01 Mawson Res* O 6 0.22 0.17 0.20 - 0.02 0.24 0.12 MAX Res V 13 0.07 0.00 0.07 - 0.01 0.11 0.04 MBMI Res* O 66 0.00 0.00 0.00 - 0.00 0.00 0.00 McEwen Mng* N 11174 2.46 2.09 2.43 + 0.22 2.78 0.65 McEwen Mng T 1750 3.19 2.61 3.15 + 0.27 3.58 0.84 MDN Inc V 639 0.06 0.05 0.05 - 0.01 0.06 0.01 Meadow Bay Gd T 874 0.10 0.08 0.10 + 0.01 0.27 0.06 Meadow Bay Gd* O 253 0.08 0.06 0.08 + 0.00 0.20 0.04 Mechel* N 533 1.91 1.75 1.83 + 0.04 2.64 1.23 O 4682 0.02 0.01 0.02 + 0.00 0.03 0.01 Medinah Mnrls* Mega Copper V 69 0.05 0.02 0.05 + 0.03 0.05 0.02 Mega Uranium T 2585 0.16 0.13 0.15 + 0.02 0.20 0.05 O 261 0.12 0.10 0.12 + 0.02 0.15 0.04 Mega Uranium* Melior Res V 207 0.06 0.00 0.06 + 0.01 0.09 0.01 Melkior Res V 871 0.05 0.04 0.04 - 0.01 0.06 0.01 0.25 + 0.01 0.31 0.10 Merrex Gold V 881 0.25 0.20 Merrex Gold* O 36 0.18 0.16 0.16 - 0.02 0.24 0.10 MetalCorp V 119 0.03 0.02 0.03 + 0.01 0.03 0.01 0.24 + 0.04 0.23 0.01 Metallis Res V 87 0.24 0.18 Metalo Manuf 12 1.10 0.95 0.95 - 0.15 1.50 0.30 Metalore Res T 2 2.27 2.15 2.27 + 0.27 3.72 1.26 0.15 + 0.01 0.19 0.05 Metals Creek V 263 0.15 0.12 Metals Creek* O 173 0.12 0.00 0.10 - 0.01 0.14 0.05 Metanor Res V 3335 0.09 0.08 0.09 + 0.01 0.13 0.03 Mexus Gold* O 7908 0.07 0.05 0.05 + 0.00 0.07 0.00 MGX Minerals 926 0.26 0.18 0.20 - 0.07 0.70 0.08 Midas Gold* O 1384 0.60 0.52 0.58 + 0.01 0.66 0.16 0.76 + 0.05 0.84 0.25 Midas Gold T 1382 0.78 0.69 Midasco Cap V 32 0.07 0.07 0.07 - 0.02 0.13 0.07 Midland Expl V 74 0.73 0.00 0.72 + 0.03 0.80 0.45 Midnight Sun V 296 0.12 0.09 0.10 - 0.02 0.24 0.08 Midway Gold* O 2216 0.00 0.00 0.00 - 0.00 0.13 0.00 0.28 + 0.03 0.35 0.11 Millrock Res* O 132 0.28 0.24 Millrock Res V 544 0.36 0.28 0.36 + 0.04 0.45 0.15 Millstream Min V 21 0.07 0.00 0.07 - 0.01 0.16 0.01 Minco Gold* X 394 0.29 0.25 0.28 - 0.00 0.40 0.10 Minco Gold T 134 0.38 0.33 0.38 + 0.03 0.55 0.12 Minco Silver* O 184 0.89 0.67 0.81 + 0.00 1.16 0.26 Mineral Hill V 76 0.24 0.16 0.21 - 0.05 0.40 0.11 Mineral Mtn* O 2 0.23 0.22 0.23 + 0.01 0.26 0.04 Mines Manage* X 1619 0.96 0.83 0.94 + 0.07 0.91 0.11 Mines Manage T 62 1.22 1.01 1.22 + 0.10 1.23 0.17 Minfocus Expl V 786 0.03 0.02 0.03 + 0.01 0.05 0.01 Minnova Corp V 355 0.74 0.58 0.70 + 0.10 0.74 0.18 Miranda Gold V 627 0.11 0.09 0.10 + 0.01 0.12 0.06 Mirasol Res V 312 1.89 1.57 1.84 + 0.22 1.93 0.72 Molycorp* O 1558 0.04 0.04 0.04 - 0.00 0.52 0.02 Monarques Res* O 145 0.23 0.19 0.22 + 0.01 0.21 0.04 Monarques Res V 2449 0.31 0.23 0.30 + 0.02 0.31 0.06 Moneta Porcpn* O 352 0.19 0.16 0.18 + 0.00 0.22 0.05 Montan Mg V 876 0.04 0.04 0.04 - 0.01 0.22 0.02 Montero Mg&Ex V 1057 0.05 0.03 0.04 - 0.01 0.08 0.01 Morro Bay V 1196 0.01 0.01 0.01 - 0.01 0.06 0.01 Mosaic* N 33021 26.73 24.42 26.70 + 1.01 47.13 22.02 0.04 + 0.02 0.05 0.01 Mountain Boy V 8010 0.05 0.02 Mountain Boy* O 475 0.03 0.03 0.03 + 0.01 0.03 0.00 Mountain Prov T 451 6.60 6.08 6.49 + 0.26 6.60 3.38 Mountain Prov* D 194 5.10 4.62 4.99 + 0.21 5.04 2.47 Mundoro Cap V 87 0.14 0.11 0.12 - 0.01 0.18 0.04 Murchison Min 1191 0.04 0.02 0.04 + 0.01 0.03 0.01 Myson Group* O 193 0.06 0.03 0.06 + 0.03 0.18 0.00

N-O NACCO Ind* N 117 Namibia Rare E* O 113 Namibia Rare E T 80 Napier Vent* O 10 Napier Vent V 49 Natan Res V 51 Natural Res Pt* N 150 Nautilus Mnrls* O 390 Navis Res Corp* O 81 Navis Res Corp 28 Navy Res V 30 Nemaska Lith V 5000 Nemaska Lith* O 262 Nevada Clean M V 368 Nevada Copper T 143 Nevada Egy Mtl* O 1252 Nevada Egy Mtl V 3162 Nevada Expl * O 944 Nevada Expl V 654 Nevada Sunrise* O 136 Nevada Sunrise V 1055 Nevada Zinc V 512 Nevado Res V 1342 Nevsun Res* X 2006 Nevsun Res T 1861 New Carolin Gd V 1797 New Carolin Gd* O 388 New Colombia* O 2374 New Dimen Res V 41 New Gold* X 23627 New Gold T 7851 New Gold* O 24 New Jersey Mng* O 59 New Milln Iron T 1149 New Nadina V 18 65 New World Res V NewCastle Gold* O 34 Newlox Gold 585 Newmac Res V 8 Newmarket Gold T 2463 Newmarket Gold* O 471 Newmont Mng* N 54274 Newport Expl V 243 Newstrike Res V 167 Nexgen Energy V 7681 Nexgen Energy* O 700 Next Gen Mtls* O 2 Next Gen Mtls 439

55.69 52.15 55.11 + 1.69 62.96 40.04 0.08 0.06 0.08 + 0.03 0.12 0.03 0.14 0.12 0.14 + 0.02 0.17 0.04 0.26 0.23 0.26 + 0.03 0.26 0.19 0.34 0.26 0.34 + 0.07 0.34 0.15 0.08 0.07 0.07 - 0.04 0.20 0.05 11.46 10.72 11.12 - 0.03 41.70 5.00 0.12 0.11 0.12 + 0.00 0.39 0.10 0.01 0.01 0.01 - 0.00 0.03 0.01 0.02 0.00 0.02 + 0.01 0.03 0.00 0.21 0.18 0.18 - 0.03 0.29 0.06 1.87 1.66 1.74 - 0.01 1.97 0.16 1.44 1.29 1.33 - 0.01 1.50 0.13 0.03 0.02 0.03 + 0.01 0.06 0.02 0.74 0.63 0.71 + 0.05 1.82 0.45 0.13 0.11 0.11 - 0.01 0.20 0.06 0.17 0.15 0.15 - 0.01 0.26 0.01 0.41 0.31 0.41 + 0.02 0.61 0.08 0.52 0.42 0.52 + 0.04 0.94 0.05 0.21 0.17 0.21 + 0.03 0.25 0.09 0.27 0.22 0.27 + 0.03 0.33 0.13 0.38 0.30 0.36 + 0.01 0.43 0.19 0.03 0.02 0.03 + 0.01 0.05 0.01 3.51 3.23 3.43 + 0.08 4.36 2.27 4.53 4.21 4.44 + 0.09 5.35 3.27 0.11 0.09 0.11 + 0.01 0.15 0.04 0.09 0.07 0.09 + 0.01 0.12 0.03 0.02 0.01 0.01 + 0.00 0.05 0.00 0.19 0.14 0.14 - 0.02 0.19 0.04 4.11 3.67 4.09 + 0.36 4.85 1.76 5.32 4.75 5.29 + 0.42 6.25 2.52 0.07 0.00 0.06 - 0.01 0.28 0.03 0.09 0.08 0.09 + 0.01 0.12 0.02 0.08 0.06 0.07 + 0.01 0.15 0.05 0.16 0.12 0.12 - 0.01 0.30 0.05 0.09 0.06 0.09 + 0.03 0.10 0.01 0.44 0.42 0.42 - 0.02 0.47 0.14 0.03 0.02 0.03 + 0.01 0.07 0.02 0.09 0.09 0.09 - 0.04 0.20 0.05 3.72 3.17 3.71 + 0.23 4.00 0.80 2.88 2.60 2.86 + 0.18 3.12 0.61 35.46 31.62 35.40 + 3.44 35.75 15.39 0.34 0.30 0.32 - 0.01 0.41 0.19 0.05 0.04 0.04 - 0.01 0.08 0.02 2.61 2.20 2.51 + 0.27 2.78 0.51 2.01 1.68 1.92 + 0.21 2.14 0.41 0.11 0.00 0.10 - 0.01 0.14 0.08 0.15 0.12 0.13 - 0.01 0.18 0.01

12-13_JUN13_StockTables.indd 13

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

NGEx Res* O 30 NGEx Res T 348 Nickel One Res V 96 20 Nickel One Res* O 76 Nicola Mg Inc* O Nicola Mg Inc V 1272 Nighthawk Gold V 667 Nikos Expl V 350 Niocorp Dev* O 198 Niocorp Dev T 320 Noka Res V 2927 V 3542 Nomad Ventures Noram Vent V 4421 Noranda Alum* O 339 Noront Res V 1703 North Am Nickl V 290 North Am Pall T 31 24 North Am Pall* O North Am Ptash V 18 North Arrow Mn V 314 North Springs* O 103 Northcliff Res T 442 Northisle C&G V 829 Northn Empire V 240 Northn Empire* O 20 Nouveau Monde V 649 NovaCopper* X 1161 NovaCopper T 263 NovaGold Res T 2520 X 11724 NovaGold Res* Novo Res* O 194 Novo Res V 226 NovX21 V 336 NQ Explor V 50 NRG Metals V 531 NRG Metals* O 84 Nrthn Freegold V 195 O 18 Nrthn Freegold* Nrthn Graphite* O 98 Nrthn Graphite V 128 Nrthn Lion V 124 Nrthn Mnrls &E* O 663 Nrthn Shield V 2565 Nrthn Superior V 418 Nrthn Vertex V 780 Nrthn Vertex* O 22 Nthn Dynasty T 1114 Nthn Dynasty* X 1455 Nthrn Sphere 6 NuLegacy Gold* O 547 NuLegacy Gold V 1961 V 20 NV Gold O.T. Mining* O 1158 OceanaGold T 6407 OceanaGold* O 34 Oceanic Iron O V 468 Oceanus Res V 914 Oceanus Res* O 213 Odin Mng & Exp V 122 Odin Mng & Exp* O 11 Olivut Res* O 117 Olivut Res V 239 Omineca Mg &Ml V 144 Opawica Expl V 871 Orbite Tech T 9309 Orbite Tech* O 12 Orca Gold V 362 Orca Gold* O 9 Orefinders Res V 448 Oremex Silver* O 410 Orezone Gold V 978 Orezone Gold* O 377 Oriental Non F 74 162 Oro East Mg* O Oroco Res V 143 Orocobre T 692 Orofino Mnrls V 32 Orosur Mng T 213 Orsu Metals T 1863 Orvana Mnrls T 546 Orvana Mnrls* O 83 99 Osisko Gold * O Osisko Gold T 2033 Otis Gold* O 142 Otis Gold V 308

0.81 0.00 0.81 + 0.14 0.77 0.37 1.07 0.89 1.04 + 0.10 1.07 0.44 0.12 0.11 0.12 + 0.01 0.18 0.09 0.09 0.09 0.09 - 0.00 0.10 0.09 0.08 0.06 0.08 + 0.02 0.11 0.03 0.11 0.08 0.10 + 0.02 0.15 0.04 0.23 0.15 0.21 + 0.04 0.19 0.04 0.08 0.07 0.08 - 0.01 0.19 0.02 0.67 0.61 0.67 + 0.03 0.87 0.37 0.86 0.80 0.86 + 0.03 1.14 0.51 0.15 0.13 0.14 - 0.01 0.21 0.03 0.01 0.01 0.01 - 0.01 0.05 0.01 0.06 0.04 0.05 - 0.01 0.07 0.01 0.06 0.04 0.05 - 0.00 11.25 0.02 0.31 0.29 0.31 - 0.01 0.51 0.28 0.10 0.00 0.10 + 0.01 0.24 0.07 5.00 4.40 4.85 - 0.15 22.00 3.85 3.84 3.35 3.72 - 0.03 16.80 2.71 0.09 0.08 0.08 - 0.03 0.15 0.03 0.19 0.15 0.19 + 0.02 1.10 0.12 0.90 0.10 0.35 - 0.30 40.00 0.15 0.13 0.12 0.13 - 0.01 0.15 0.06 0.07 0.06 0.07 + 0.01 0.07 0.02 0.20 0.16 0.20 + 0.03 0.22 0.06 0.13 0.12 0.13 + 0.01 0.13 0.04 0.28 0.24 0.26 - 0.01 0.29 0.12 0.58 0.44 0.50 - 0.05 0.86 0.15 0.72 0.59 0.67 - 0.03 1.08 0.20 7.61 6.42 7.60 + 0.94 8.43 3.42 5.89 5.01 5.88 + 0.78 6.57 2.65 0.86 0.60 0.78 + 0.13 1.00 0.29 1.05 0.80 1.00 + 0.14 1.30 0.40 0.03 0.02 0.02 - 0.01 0.05 0.02 0.01 0.01 0.01 + 0.01 0.01 0.01 0.13 0.11 0.12 + 0.01 0.18 0.02 0.09 0.08 0.09 + 0.00 0.11 0.01 0.20 0.14 0.18 + 0.04 0.28 0.04 0.14 0.14 0.14 + 0.00 0.20 0.02 0.40 0.34 0.40 + 0.04 0.59 0.12 0.52 0.47 0.52 + 0.05 0.73 0.16 0.14 0.10 0.10 + 0.01 0.16 0.03 0.05 0.02 0.03 + 0.00 0.14 0.02 0.16 0.13 0.16 + 0.02 0.18 0.01 0.02 0.02 0.02 - 0.01 0.04 0.01 0.45 0.36 0.39 + 0.01 0.45 0.13 0.42 0.31 0.31 - 0.02 0.42 0.15 0.45 0.40 0.44 + 0.02 0.67 0.28 0.36 0.30 0.36 + 0.04 0.53 0.20 0.43 0.00 0.42 - 0.01 0.53 0.10 0.22 0.19 0.21 + 0.01 0.32 0.06 0.28 0.25 0.27 + 0.01 0.39 0.08 0.09 0.00 0.09 + 0.01 0.13 0.03 0.04 0.02 0.03 + 0.00 0.09 0.02 4.33 3.83 4.26 + 0.33 4.64 1.79 3.22 2.93 3.22 + 0.08 3.66 1.43 0.16 0.12 0.16 + 0.03 0.20 0.08 0.30 0.20 0.23 - 0.05 0.35 0.14 0.22 0.17 0.18 - 0.04 0.26 0.17 0.73 0.63 0.73 + 0.08 0.85 0.21 0.57 0.53 0.54 + 0.01 0.58 0.17 0.25 0.12 0.21 + 0.06 0.22 0.05 0.30 0.20 0.27 + 0.09 0.30 0.08 0.07 0.06 0.06 - 0.01 0.11 0.01 0.14 0.11 0.12 - 0.02 0.15 0.02 0.32 0.27 0.31 + 0.03 0.53 0.20 0.25 0.00 0.25 + 0.03 0.40 0.15 0.30 0.27 0.30 + 0.02 0.33 0.12 0.23 0.20 0.20 - 0.03 0.27 0.08 0.04 0.04 0.04 - 0.01 0.08 0.01 0.04 0.03 0.03 + 0.01 0.05 0.00 1.03 0.81 1.01 + 0.16 1.05 0.22 0.79 0.64 0.79 + 0.14 0.82 0.16 0.32 0.31 0.32 + 0.02 0.32 0.27 0.03 0.02 0.03 + 0.00 0.06 0.01 0.03 0.03 0.03 - 0.01 0.05 0.01 4.62 4.07 4.10 - 0.05 4.62 1.33 0.19 0.17 0.19 + 0.02 0.23 0.05 0.22 0.19 0.22 + 0.04 0.24 0.10 0.03 0.02 0.03 + 0.01 0.06 0.01 0.20 0.17 0.19 + 0.01 0.33 0.11 0.16 0.00 0.16 + 0.03 0.25 0.07 13.21 11.32 13.21 + 1.82 14.57 8.88 17.08 14.71 17.01 + 2.14 18.35 12.39 0.14 0.12 0.13 - 0.01 0.15 0.03 0.17 0.15 0.17 - 0.01 0.19 0.04

Pac Booker Min V 15 Pac Imperial V 1243 Pac Iron Ore V 6 345 Pac Ridge Expl V Pac Topaz V 314 Paget Mrnls V 184 Paladin Energy T 1421 Palamina Corp V 57 O 45 Palamina Corp* Pan Am Silver* D 13325 Pan Am Silver T 3032 Pan Global Res V 94 Pancontinental V 461 O 11 Pancontinental* Panex Res* O 1705 Pangolin Dia V 431 Panoro Mnrls V 70 Parallel Mng V 44 Paramount Gold* X 265 Pasinex Res 1474 Patriot Gold* O 667 Peabody Enrgy* O 1462 Peat Res V 166 Pelangio Expl V 690 Pelangio Expl* O 153 Pele Mtn Res* O 15 Peregrine Diam T 3419 Perseus Mng T 2112 Pershimco Res V 577 Pershing Gold* D 1006 Pershing Res* O 24 Peruvian Prc M* O 62 Petaquilla Mnl* O 431 Philippine Mtl V 2 Pilot Gold T 937 Pilot Gold* O 540 Pine Cliff En* O 40 Pine Cliff En T 9943 Pistol Bay Mng V 581 Pitchblack Res V 1 V 87 PJX Res Plate Res V 127 Plateau Uran* O 21 Plateau Uran V 108 Platinum Gp Mt T 422 Platinum Gp Mt* X 1476 Plato Gold V 311 Playfair Mng* O 25 PNG Gold V 610 Polaris Mater T 35 PolyMet Mng* X 489 Portage Res* O 2072 Potash Corp SK T 12569 Potash Corp SK* N 44048 Potash Ridge T 5826 Potash Ridge* O 247 Precipitate Gl V 577 Premier Gold M T 3719 Premium Expl* O 241 Pretium Res* N 7042 Pretium Res T 2973 Prime Meridian V 34 Primero Mng T 6365 Primero Mng* N 9097 Probe Metals V 154 Probe Metals* O 31 Prospect Glob* O 8 Prosper Gold V 113 Prospero Silvr V 6 PUF Vent Inc 916 Puma Expl V 575 Pure Energy* O 1144 Pure Energy V 1894 Pure Gold Mg* O 75 Pure Gold Mg V 1445 Q-Gold Res V 56 QMC Quantum Ml V 102 QMX Gold V 567 QMX Gold* O 171 Quaterra Res V 429 Quaterra Res* O 1068 Quest Rare Mnl* O 80 Quest Rare Mnl T 718 Quinto Real V 114

0.98 0.84 0.98 + 0.12 5.67 0.63 0.04 0.02 0.02 - 0.02 0.05 0.01 0.22 0.15 0.15 - 0.07 0.39 0.11 0.06 0.05 0.06 + 0.01 0.10 0.02 0.17 0.16 0.17 + 0.01 0.29 0.06 0.05 0.04 0.05 + 0.01 0.08 0.01 0.23 0.21 0.22 + 0.01 0.29 0.15 0.18 0.00 0.17 - 0.01 0.18 0.06 0.14 0.11 0.11 - 0.02 0.14 0.08 15.58 13.40 15.49 + 1.82 16.49 5.38 20.16 17.26 20.06 + 2.23 21.27 7.77 0.04 0.02 0.04 + 0.02 0.02 0.01 0.04 0.03 0.03 - 0.01 0.04 0.01 0.03 0.02 0.02 - 0.01 0.03 0.00 0.00 0.00 0.00 - 0.00 0.01 0.00 0.13 0.11 0.13 + 0.02 0.13 0.03 0.20 0.18 0.20 + 0.02 0.21 0.09 0.09 0.07 0.09 + 0.02 0.09 0.05 1.56 1.37 1.43 - 0.02 1.66 0.93 0.08 0.05 0.07 + 0.02 0.08 0.03 0.14 0.10 0.11 - 0.01 0.15 0.02 1.31 0.91 1.18 + 0.23 50.70 0.55 0.06 0.05 0.05 - 0.01 0.07 0.01 0.06 0.05 0.06 + 0.01 0.06 0.01 0.05 0.04 0.04 + 0.01 0.05 0.01 0.03 0.00 0.03 - 0.00 0.04 0.02 0.25 0.18 0.22 + 0.03 0.27 0.09 0.52 0.44 0.50 + 0.05 0.62 0.27 0.19 0.15 0.19 + 0.03 0.23 0.09 4.31 3.93 4.31 + 0.22 6.28 3.04 0.03 0.02 0.02 - 0.00 0.15 0.02 0.03 0.02 0.02 - 0.01 0.10 0.02 0.02 0.01 0.01 + 0.00 0.03 0.00 0.04 0.00 0.04 - 0.01 0.06 0.01 0.73 0.64 0.72 + 0.06 0.83 0.22 0.57 0.49 0.54 + 0.03 0.64 0.06 0.54 0.51 0.51 - 0.03 1.20 0.51 0.70 0.64 0.65 - 0.04 1.51 0.61 0.05 0.04 0.05 + 0.01 0.07 0.01 0.06 0.00 0.06 - 0.04 0.20 0.05 0.20 0.18 0.20 + 0.01 0.23 0.13 0.05 0.00 0.05 + 0.01 0.17 0.03 0.24 0.21 0.24 + 0.04 0.36 0.18 0.31 0.28 0.30 - 0.01 0.45 0.24 4.00 3.42 3.90 + 0.25 5.40 1.35 3.10 2.65 3.02 + 0.23 4.51 0.96 0.01 0.01 0.01 + 0.01 0.02 0.01 0.05 0.04 0.05 + 0.01 0.05 0.01 0.01 0.01 0.01 + 0.01 0.01 0.01 1.38 1.21 1.30 - 0.05 2.68 1.12 0.84 0.78 0.81 - 0.02 1.33 0.55 0.00 0.00 0.00 + 0.00 0.01 0.00 22.00 20.86 21.71 + 0.12 39.82 20.03 16.84 15.90 16.78 + 0.21 32.18 14.64 0.41 0.32 0.40 + 0.08 0.50 0.03 0.32 0.23 0.31 + 0.07 0.38 0.02 0.32 0.24 0.32 + 0.05 0.30 0.06 3.35 2.81 3.34 + 0.52 3.80 1.65 0.01 0.00 0.01 + 0.00 0.04 0.00 8.29 7.02 8.26 + 1.22 8.74 4.00 10.71 9.05 10.70 + 1.53 11.25 5.57 0.10 0.00 0.10 + 0.02 0.18 0.05 2.45 2.13 2.43 + 0.26 5.51 1.94 1.89 1.63 1.87 + 0.21 4.49 1.41 0.83 0.78 0.81 + 0.04 0.94 0.33 0.64 0.60 0.64 + 0.05 0.72 0.24 0.08 0.07 0.08 + 0.01 0.20 0.02 0.28 0.24 0.27 + 0.02 0.36 0.06 0.17 0.13 0.17 + 0.04 0.17 0.05 0.02 0.02 0.02 - 0.01 0.09 0.01 0.08 0.07 0.07 - 0.01 0.13 0.03 0.47 0.40 0.42 - 0.01 0.91 0.18 0.60 0.53 0.55 - 0.01 1.15 0.21 0.49 0.45 0.47 + 0.01 0.51 0.01 0.65 0.57 0.65 + 0.05 0.72 0.07 0.12 0.00 0.08 - 0.05 0.13 0.01 0.02 0.00 0.02 - 0.01 0.02 0.01 0.07 0.05 0.07 + 0.01 0.11 0.01 0.06 0.04 0.04 - 0.00 0.08 0.01 0.07 0.00 0.06 - 0.01 0.15 0.05 0.06 0.04 0.05 - 0.00 0.11 0.04 0.14 0.10 0.11 - 0.02 0.20 0.03 0.17 0.15 0.17 - 0.01 0.25 0.06 0.08 0.07 0.07 - 0.01 0.16 0.01

P-Q

R Rackla Mtls V 126 0.10 0.00 0.10 + 0.04 0.13 0.05 Radisson Mng V 176 0.15 0.13 0.15 + 0.02 0.16 0.09 Rainforest Res* O 9 2.00 0.00 1.99 + 0.49 1.50 0.30 Rainmaker Res V 411 0.10 0.08 0.10 + 0.02 0.34 0.08 Rambler Ml &Mg V 182 0.07 0.06 0.06 - 0.02 0.25 0.05 Randgold Res* O 1 90.80 88.39 90.80 + 2.35 95.43 57.00 Randgold Res* D 4397 92.33 83.14 92.02 + 8.51 101.60 54.88 Randsburg Intl V 73 0.01 0.01 0.01 + 0.01 0.02 0.01 Rapier Gold V 248 0.08 0.06 0.08 + 0.02 0.10 0.02 Raptor Res* O 2382 0.00 0.00 0.00 - 0.00 0.00 0.00 Rare Element* O 222 0.11 0.09 0.09 + 0.00 0.64 0.06 RB Energy* O 570 0.01 0.00 0.00 + 0.00 0.01 0.00

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Red Eagle Mng* O 564 Red Eagle Mng V 1944 Red Hut V 202 Red Moon Potsh V 26 Redhawk Res T 57 Redhill Res V 148 Regulus Res V 872 Reliant Gold V 1479 Renaissance Gd V 65 Renaissance Gd* O 34 Renforth Res 1182 Reservoir Mnls* O 102 Reservoir Mnls V 633 Resolve Vent V 196 Reunion Gold V 610 Revelo Res V 247 Revolver Res V 27 Rheingold Expl 488 Rhyolite Res V 25 Richmond Mnls V 24 X 2078 Richmont Mines* Richmont Mines T 2667 Rio Novo Gold T 179 Rio Silver V 317 Rio Tinto* N 25458 Rio Tinto* O 2 Rise Res Inc 107 Riverside Res* O 65 Riverside Res V 220 RJK Explor V 4998 Robex Res V 243 Rochester Res V 38 Rock Tech Lith* O 11 Rock Tech Lith V 164 Rockcliff Cop V 352 Rockex Mng 358 Rockhaven Res V 372 Rockland Mnls V 112 Rockshield Cap 413 Rockwell Diam T 65 O 101 Rockwell Diam* Rogue Res* O 53 Rojo Res V 760 466 Romios Gold Rs V Romulus Res V 76 886 Rosita Mg Corp V Rouge Res V 448 Roughrider Exp V 15 Roxgold* O 201 Roxgold V 2879 Royal Gold T 63 Royal Gold* D 4128 Royal Nickel* O 39 Royal Nickel T 3523 Royal Rd Mnrls V 289 RT Minerals V 288 RTG Mining T 6 O 3742 Rubicon Mnrls* Rubicon Mnrls T 15660 Rugby Mng V 1088 Rupert Res V 302 Rusoro Mng* O 82 Rusoro Mng V 1189 Rye Patch Gold* O 2898 Rye Patch Gold V 5767

0.59 0.48 0.57 + 0.06 0.91 0.18 0.75 0.59 0.73 + 0.07 0.89 0.25 0.12 0.07 0.10 + 0.02 0.15 0.01 0.03 0.03 0.03 + 0.01 0.05 0.02 0.05 0.04 0.05 + 0.01 0.10 0.04 0.17 0.08 0.14 + 0.06 0.17 0.03 0.95 0.89 0.95 + 0.02 1.05 0.19 0.04 0.02 0.03 + 0.01 0.04 0.01 0.40 0.32 0.40 + 0.07 0.48 0.11 0.28 0.24 0.27 + 0.01 0.38 0.08 0.03 0.02 0.03 + 0.01 0.05 0.01 6.85 6.33 6.76 + 0.15 7.46 2.25 8.93 8.31 8.72 + 0.12 9.35 3.26 0.20 0.18 0.18 + 0.01 0.30 0.04 0.02 0.02 0.02 + 0.01 0.03 0.01 0.09 0.08 0.09 + 0.01 0.14 0.04 0.25 0.17 0.25 + 0.08 0.23 0.07 0.04 0.03 0.03 - 0.01 0.05 0.01 0.23 0.17 0.22 + 0.05 0.23 0.09 0.06 0.06 0.06 - 0.01 0.14 0.03 8.24 7.26 8.18 + 0.80 8.97 2.27 10.65 9.35 10.60 + 0.95 11.54 3.14 0.16 0.14 0.16 - 0.01 0.16 0.07 0.05 0.04 0.05 + 0.01 0.05 0.01 29.27 27.00 28.34 - 0.39 44.44 21.89 29.57 27.36 27.47 - 0.88 44.18 21.90 0.20 0.15 0.20 + 0.05 0.20 0.11 0.24 0.21 0.24 + 0.03 0.27 0.08 0.32 0.28 0.31 + 0.03 0.36 0.12 0.02 0.01 0.02 + 0.01 0.02 0.01 0.14 0.13 0.13 - 0.01 0.17 0.05 0.06 0.05 0.06 + 0.01 0.08 0.03 0.21 0.19 0.20 + 0.01 0.27 0.02 0.31 0.24 0.30 + 0.01 0.38 0.03 0.05 0.04 0.05 + 0.01 0.06 0.02 0.30 0.10 0.10 - 0.10 0.75 0.01 0.20 0.17 0.20 + 0.03 0.24 0.10 0.08 0.06 0.08 + 0.01 0.11 0.01 0.08 0.00 0.06 - 0.01 0.14 0.06 0.10 0.09 0.10 + 0.01 0.25 0.07 0.06 0.06 0.06 - 0.00 0.20 0.05 0.06 0.06 0.06 - 0.00 0.11 0.04 0.11 0.08 0.11 + 0.03 0.14 0.04 0.08 0.07 0.07 - 0.01 0.08 0.02 0.12 0.08 0.12 + 0.05 0.16 0.07 0.05 0.03 0.05 + 0.01 0.10 0.01 0.37 0.32 0.35 + 0.01 0.48 0.03 0.12 0.11 0.11 - 0.01 0.16 0.05 1.01 0.86 1.01 + 0.15 1.10 0.42 1.31 1.12 1.30 + 0.16 1.44 0.54 79.70 70.53 79.68 + 7.91 80.60 35.46 61.61 54.22 61.55 + 6.53 65.79 24.68 0.36 0.00 0.36 + 0.02 0.50 0.10 0.47 0.43 0.45 + 0.02 0.63 0.12 0.15 0.09 0.11 + 0.01 0.15 0.04 0.29 0.22 0.24 - 0.01 0.30 0.05 0.68 0.45 0.50 - 0.18 0.70 0.33 0.06 0.03 0.05 + 0.01 1.17 0.01 0.08 0.04 0.06 + 0.02 1.43 0.02 0.34 0.15 0.30 + 0.15 0.34 0.03 0.72 0.00 0.68 + 0.10 0.67 0.02 0.13 0.10 0.11 - 0.00 0.13 0.02 0.19 0.13 0.15 + 0.01 0.19 0.03 0.30 0.18 0.27 + 0.07 0.30 0.08 0.39 0.24 0.35 + 0.09 0.39 0.11

Sabina Gd&Slvr* O 1322 Sabina Gd&Slvr T 3761 Sage Gold V 658 Sage Gold* O 51 Saint Jean* O 25 Saint Jean V 749 Salazar Res V 1761 Sama Res* O 247 Samco Gold V 122 235 San Marco Res V Sanatana Diam V 7090 V 1363 Sandspring Res Sandspring Res* O 369 X 4399 Sandstorm Gold* Sandstorm Gold T 1196 Santa Fe Gold* O 5227 Santacruz Silv V 1054 Sarama Res V 600 Sarissa Res* O 830 Satori Res V 109 Savant Expl V 533 Savary Gold V 3837 Savary Gold* O 198 Saville Res V 35 Scandium Int M* O 151 Scientific Mts V 9970 Scorpio Gold V 211 Seabridge Gld* N 4586 Seabridge Gld T 656 Seafield Res* O 129 Search Mnls V 369 Searchlight* O 605 Secova Mtls V 326 Sego Res V 38 Select Sands V 631 Semafo T 6767 Senator Mnrls V 25 Sennen Potash V 44 Serengeti Res V 76 Shamrock Ent 335 Sherritt Intl T 2933 Shore Gold T 849 Sibanye Gold* N 8260 Sienna Res V 2748 Sienna Res* O 247 27 Sierra Iron Or V Sierra Iron Or* O 24 Sierra Metals* O 13 Sierra Metals T 39 Signature Res V 118 Silver Bear Rs T 586 Silver Bull Re* O 1498 Silver Bull Re T 4644 Silver Dragon* O 48 Silver Grail V 257 Silver Predatr V 51 Silver Pursuit V 86 Silver Range V 248 Silver Shield 280 Silver Spruce V 122 Silver Std Res T 4073 Silver Std Res* D 10114 Silver Wheaton T 7037 Silver Wheaton* N 24325 Silvercorp Met T 3265 Silvercorp Met* O 1037 Silvermet V 87 SinoCoking Cl* D 129 Sirios Res V 1559 Sirios Res* O 711 Skeena Res V 1345 V 1934 Skyharbour Res Slam Explor V 108 SnipGold V 823 Solitario Ex&R T 26 Solitario Ex&R* X 527 Sonoro Mtls* O 550 Source Expl V 1779 Southern Arc V 42 Southern Copp* N 17222 Southern Silvr V 1004 Southern Silvr* O 152 SouthGobi Res T 10 Spanish Mtn Gd V 806 Sparton Res* O 78 Spearmint Res V 4106 Sphinx Res V 994 Spruce Ridge R V 46 St Augustine T 239 St-Georges Plt* O 11 Stakeholdr Gld V 53 Stakeholdr Gld* O 26 Standard Graph V 4747 Standard Graph* O 64 Standard Metal* O 191 Stans Energy* O 363 Star Gold* O 6 Starcore Intl T 303 Stelmine Can V 345 Sterling Grp* O 100 Stillwater Mg* N 6625 Stina Res 243 Stockport Expl V 202 Stonegate Agri T 580 Stornoway Diam T 3269 Stratabd Mnr V 837 Strategic Metl V 408 Stratton Res V 77 Stria Lithium V 225 Strikepoint Gd V 83 Strikepoint Gd* O 33 Sulliden Mng T 238 Sultan Mnrls V 121 Suncor Energy T 14095 Suncor Energy* N 24732 O 318 Sunridge Gold* Sunvest Mnrls V 84 Sutter Gold V 61 Sutter Gold* O 53

1.25 1.04 1.23 + 0.14 1.55 0.24 1.61 1.38 1.57 + 0.14 1.87 0.32 0.06 0.05 0.06 - 0.01 0.09 0.03 0.06 0.04 0.04 - 0.02 0.07 0.03 0.05 0.04 0.05 + 0.00 0.05 0.01 0.06 0.05 0.06 - 0.01 0.07 0.01 0.09 0.07 0.08 - 0.01 0.16 0.03 0.08 0.08 0.08 + 0.00 0.13 0.07 0.08 0.05 0.05 - 0.03 0.35 0.02 0.09 0.08 0.09 + 0.02 0.10 0.02 0.02 0.01 0.02 + 0.01 0.05 0.01 0.52 0.44 0.50 + 0.06 0.63 0.11 0.41 0.32 0.39 + 0.05 0.51 0.08 3.99 3.47 3.99 + 0.50 4.52 1.94 5.16 4.51 5.16 + 0.61 5.83 2.82 0.00 0.00 0.00 + 0.00 0.12 0.00 0.46 0.36 0.46 + 0.07 0.63 0.09 0.16 0.13 0.16 + 0.03 0.20 0.05 0.00 0.00 0.00 - 0.00 0.02 0.00 0.10 0.08 0.10 + 0.02 0.11 0.02 0.02 0.01 0.02 + 0.01 0.02 0.01 0.12 0.09 0.10 + 0.01 0.12 0.02 0.09 0.08 0.09 + 0.01 0.08 0.06 0.02 0.00 0.02 - 0.02 0.05 0.01 0.15 0.12 0.15 + 0.03 0.17 0.06 0.13 0.11 0.12 - 0.02 0.13 0.01 0.09 0.09 0.09 - 0.01 0.14 0.05 13.40 11.31 13.34 + 1.31 15.50 3.31 17.34 14.85 17.32 + 1.65 19.93 4.34 0.01 0.00 0.00 - 0.00 0.00 0.00 0.10 0.07 0.08 + 0.01 0.11 0.04 0.08 0.05 0.07 - 0.02 0.42 0.05 0.06 0.05 0.05 - 0.01 0.10 0.03 0.04 0.03 0.04 + 0.01 0.05 0.01 0.28 0.23 0.25 + 0.02 0.50 0.20 5.68 4.85 5.64 + 0.71 6.01 2.46 0.42 0.27 0.40 + 0.02 0.42 0.03 0.13 0.12 0.13 - 0.03 0.33 0.09 0.09 0.07 0.09 + 0.01 0.11 0.02 0.03 0.02 0.02 - 0.01 0.04 0.01 0.77 0.69 0.75 + 0.02 2.60 0.53 0.20 0.18 0.19 + 0.01 0.25 0.13 13.00 11.32 12.89 + 1.36 16.63 4.07 0.17 0.15 0.17 + 0.02 0.19 0.01 0.12 0.11 0.11 - 0.01 0.15 0.01 0.36 0.31 0.34 - 0.03 0.62 0.22 0.28 0.25 0.27 + 0.02 0.42 0.15 1.24 1.03 1.24 + 0.15 1.40 0.69 1.51 1.40 1.42 + 0.01 1.80 0.84 0.09 0.09 0.09 + 0.03 0.09 0.01 0.19 0.16 0.19 + 0.03 0.21 0.02 0.10 0.08 0.10 + 0.01 0.15 0.02 0.13 0.10 0.13 + 0.02 0.18 0.04 0.02 0.02 0.02 - 0.00 0.05 0.01 0.10 0.07 0.09 - 0.01 0.11 0.02 0.04 0.03 0.03 + 0.01 0.04 0.01 0.07 0.06 0.06 - 0.01 0.13 0.02 0.16 0.12 0.15 + 0.02 0.18 0.02 0.12 0.10 0.10 - 0.02 0.17 0.01 0.07 0.05 0.05 - 0.02 0.10 0.03 13.26 10.79 13.07 + 1.72 12.96 5.28 10.24 8.58 10.13 + 1.42 10.06 3.66 26.43 23.46 26.39 + 2.65 26.46 14.51 20.43 18.06 20.39 + 2.19 21.14 10.04 2.45 2.03 2.43 + 0.20 3.10 0.60 1.89 1.55 1.88 + 0.18 2.45 0.41 0.04 0.03 0.04 - 0.01 0.09 0.02 0.43 0.34 0.35 - 0.03 2.19 0.26 0.43 0.39 0.41 - 0.01 0.51 0.07 0.33 0.29 0.30 - 0.02 0.39 0.07 0.09 0.08 0.09 + 0.01 0.13 0.06 0.05 0.04 0.05 + 0.01 0.06 0.02 0.06 0.06 0.06 - 0.01 0.12 0.01 0.27 0.25 0.27 + 0.01 0.30 0.04 0.62 0.60 0.62 + 0.01 0.95 0.57 0.51 0.43 0.48 + 0.02 0.81 0.40 0.06 0.04 0.04 - 0.02 0.11 0.03 0.03 0.02 0.02 - 0.01 0.06 0.01 0.50 0.37 0.40 - 0.08 1.00 0.24 27.03 25.37 26.42 - 0.19 31.35 21.55 0.31 0.21 0.29 + 0.04 0.32 0.03 0.24 0.16 0.22 + 0.03 0.24 0.02 0.28 0.25 0.25 - 0.01 0.97 0.21 0.09 0.08 0.09 - 0.01 0.10 0.02 0.03 0.03 0.03 - 0.00 0.04 0.00 0.05 0.03 0.04 + 0.01 0.05 0.01 0.03 0.00 0.03 + 0.01 0.04 0.01 0.05 0.04 0.04 - 0.01 0.06 0.01 0.13 0.12 0.13 + 0.02 0.14 0.07 0.02 0.02 0.02 - 0.00 0.03 0.01 0.59 0.42 0.42 - 0.08 0.75 0.04 0.41 0.32 0.33 - 0.02 0.46 0.05 0.13 0.05 0.09 + 0.03 0.10 0.01 0.09 0.04 0.08 + 0.02 0.06 0.00 0.17 0.14 0.15 - 0.02 0.90 0.01 0.02 0.01 0.01 - 0.01 0.05 0.01 0.10 0.06 0.10 + 0.04 0.15 0.01 0.83 0.70 0.80 + 0.10 0.89 0.25 0.08 0.01 0.06 - 0.04 0.35 0.05 0.04 0.04 0.04 - 0.01 0.04 0.01 10.54 9.58 10.52 + 0.75 14.28 4.99 0.18 0.16 0.17 + 0.02 0.19 0.11 0.03 0.03 0.03 + 0.01 0.05 0.01 0.03 0.02 0.03 + 0.01 0.04 0.01 0.98 0.96 0.97 - 0.01 1.08 0.65 0.02 0.02 0.02 + 0.02 0.02 0.01 0.49 0.00 0.49 + 0.07 0.50 0.24 0.24 0.23 0.23 - 0.01 0.30 0.07 0.13 0.11 0.11 - 0.02 0.18 0.02 0.23 0.19 0.22 + 0.01 0.75 0.05 0.19 0.15 0.17 - 0.02 0.19 0.08 0.40 0.00 0.40 + 0.01 0.45 0.19 0.02 0.01 0.02 + 0.01 0.02 0.01 36.47 34.96 35.60 - 0.30 40.35 27.32 27.95 26.64 27.52 - 0.02 30.70 18.71 0.04 0.02 0.03 + 0.00 0.29 0.01 0.08 0.00 0.08 + 0.01 0.55 0.01 0.09 0.07 0.09 + 0.02 0.16 0.04 0.07 0.06 0.07 + 0.01 0.13 0.02

S

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Syrah Res* O 12

4.27 3.76 4.27 + 0.51 4.25 1.81

Tahoe Res* N 9164 Tahoe Res T 5736 Tajiri Res V 8 Takara Res V 245 Talon Metals T 782 Tamino Mnrls* O 4243 Tantalex Res 28 Tanzania Mnls V 748 Tanzania Rlty T 122 Tanzania Rlty* X 658 Taranis Res V 73 Tartisan Res 103 Tasca Res V 209 Taseko Mines* X 744 O 278 Tasman Metals* V 242 Tasman Metals Teck Res T 7 Teck Res* N 46928 Teck Res T 22633 TECO Enrgy* N 9430 Telferscot Res 455 Telson Res V 38 Tembo Gold V 662 Teranga Gold T 4628 Teras Res V 129 Terraco Gold V 673 Terrax Mnrls* O 23 Terrax Mnrls V 770 Terreno Res V 80 Teslin Rvr Res V 937 Tesoro Mnrls V 21 Teuton Res* O 11 Teuton Res V 455 Thompson Creek* O 1938 Thompson Creek T 810 Till Capital* D 23 Tiller Res V 4 Timberline Res* O 213 Timberline Res V 21 Timmins Gold T 4068 Timmins Gold* X 5194 Tinka Res* O 132 Tintina Res V 225 Tintina Res* O 35 Tirex Res* O 82 Tirex Res V 92 Titanium Corp V 293 TMAC Resource* O 21 TMAC Resources T 103 Tolima Gold V 2921 TomaGold V 1230 Tonogold Res* O 173 Torex Gold* O 790 Torex Gold T 17947 Tower Res V 181 Transatlan Mng V 328 Transition Mtl V 99 Treasury Metal T 563 Trecora Res* N 159 Tres-Or Res V 357 Trevali Mng* O 1079 Trevali Mng T 11707 Tri Origin Exp V 808 O 77 TriMetals Mng* TriMetals Mng* O 260 TriMetals Mng T 309 TriStar Gold* O 208 TriStar Gold V 310 Troy Res* O 24 Tsodilo Res V 48 Tudor Gold V 94 O 6 Tudor Gold * Tungsten Corp* O 2595 Turquoise HIl* N 9612 Turquoise HIl T 5582 Typhoon Expl V 81

13.30 11.50 13.29 + 1.48 15.14 6.48 17.21 14.76 17.21 + 1.84 18.65 9.45 0.04 0.04 0.04 + 0.01 0.06 0.01 0.06 0.05 0.05 - 0.01 0.06 0.02 0.09 0.07 0.09 + 0.01 0.18 0.07 0.00 0.00 0.00 - 0.00 0.01 0.00 0.05 0.04 0.05 + 0.01 0.07 0.01 0.01 0.01 0.01 - 0.01 0.02 0.01 0.61 0.51 0.60 + 0.04 0.76 0.24 0.47 0.39 0.45 + 0.02 0.57 0.17 0.12 0.10 0.10 + 0.01 0.15 0.03 0.07 0.04 0.05 + 0.02 0.07 0.01 0.16 0.06 0.15 + 0.09 0.16 0.01 0.52 0.47 0.51 + 0.01 0.70 0.23 0.21 0.17 0.21 + 0.03 0.66 0.06 0.29 0.23 0.25 + 0.01 0.80 0.09 15.50 13.60 15.40 + 1.32 17.50 5.69 10.77 9.20 10.70 + 1.17 12.53 2.56 13.91 12.08 13.85 + 1.42 15.68 3.65 27.68 27.50 27.59 + 0.06 27.83 17.60 0.02 0.01 0.02 + 0.01 0.02 0.01 0.22 0.15 0.20 - 0.02 0.23 0.04 0.04 0.03 0.04 + 0.01 0.04 0.01 1.04 0.87 1.02 + 0.13 1.18 0.38 0.16 0.12 0.15 - 0.01 0.16 0.03 0.14 0.13 0.13 - 0.01 0.15 0.07 0.27 0.26 0.27 + 0.01 0.32 0.17 0.37 0.32 0.35 + 0.01 0.43 0.23 0.08 0.06 0.06 - 0.01 0.08 0.02 0.37 0.35 0.37 + 0.01 0.43 0.20 0.06 0.00 0.05 - 0.01 0.06 0.01 0.20 0.20 0.20 - 0.00 0.25 0.03 0.31 0.23 0.25 - 0.02 0.33 0.04 0.38 0.32 0.36 + 0.04 1.10 0.07 0.48 0.43 0.46 + 0.04 1.36 0.16 3.40 3.00 3.40 + 0.30 5.43 2.76 0.04 0.00 0.04 - 0.01 0.08 0.02 0.34 0.25 0.32 + 0.02 0.78 0.08 0.44 0.36 0.43 + 0.03 0.83 0.16 0.39 0.30 0.38 + 0.06 0.85 0.11 0.30 0.23 0.30 + 0.05 0.68 0.07 0.19 0.17 0.18 - 0.01 0.22 0.07 0.09 0.07 0.08 - 0.01 0.11 0.04 0.07 0.06 0.06 - 0.01 0.09 0.03 0.11 0.08 0.11 + 0.02 0.18 0.05 0.14 0.11 0.13 + 0.02 0.22 0.07 0.39 0.35 0.38 + 0.02 1.55 0.31 10.94 10.46 10.83 + 0.15 10.92 9.26 14.15 13.69 13.97 + 0.07 14.15 4.85 0.02 0.01 0.01 - 0.01 0.03 0.01 0.11 0.08 0.09 + 0.01 0.11 0.04 0.03 0.01 0.01 - 0.02 0.08 0.01 1.73 1.38 1.69 + 0.28 1.89 0.67 2.23 1.78 2.18 + 0.35 2.32 0.85 0.05 0.04 0.05 + 0.01 0.07 0.01 0.04 0.03 0.04 + 0.01 0.15 0.04 0.14 0.13 0.14 + 0.01 0.18 0.06 0.56 0.46 0.52 + 0.04 0.62 0.32 11.73 10.98 11.01 - 0.33 16.50 8.17 0.05 0.04 0.04 - 0.02 0.05 0.01 0.46 0.33 0.45 + 0.12 0.82 0.18 0.60 0.43 0.59 + 0.15 1.02 0.25 0.05 0.04 0.04 - 0.01 0.07 0.02 0.26 0.22 0.26 + 0.02 0.27 0.03 0.22 0.20 0.22 + 0.00 0.32 0.06 0.33 0.28 0.33 + 0.03 0.36 0.04 0.28 0.25 0.28 + 0.03 0.28 0.10 0.40 0.28 0.40 + 0.10 0.38 0.10 0.44 0.41 0.41 - 0.03 0.56 0.13 0.77 0.65 0.70 + 0.05 1.05 0.54 1.09 0.98 1.00 + 0.01 1.26 0.03 0.80 0.78 0.80 + 0.00 0.85 0.78 0.00 0.00 0.00 - 0.00 0.00 0.00 2.98 2.75 2.96 + 0.15 4.42 1.55 3.86 3.60 3.81 + 0.16 5.50 2.30 0.09 0.00 0.07 - 0.02 0.12 0.03

U3O8 Corp T 2790 U3O8 Corp* O 599 Ucore Rare Mtl* O 398 Ucore Rare Mtl V 636 UEX Corp T 747 Ultra Lithium* O 38 Ultra Lithium V 322 Umbral Enrgy 20083 Umbral Enrgy* O 99 Unigold* O 51 Unigold V 391 United Res Hdg* O 46 United States A* X 592 United States S* N 78944 Ur-Energy* X 7256 Ur-Energy T 940 Uracan Res V 601 Uragold Bay Rs V 909 Uranium Energy* X 5439 Uranium Hunter* O 62740 Uranium Res* D 949 Uravan Mnrls V 50 US Energy* D 215 US Precious M* O 4342 US Rare Earths* O 9 USCorp* O 150 N 125321 Vale* Vale* N 42918 ValGold Res V 121 Vanstar Mng Rs V 182 Vantex Res V 712 Vatic Vent V 203 N 929 Vedanta* Vela Minerals V 196 Vendome Res V 194 Venture Mnrls* O 87 Verde Potash T 65 Veris Gold* O 284 Victoria Gold V 5064 Victory Vent V 255 Virginia Enrgy* O 15 Viscount Mng V 468 Vista Gold* X 2594 Vista Gold T 127 Voltaic Min V 100 Vulcan Mnrls V 295 VVC Expl V 756

0.03 0.02 0.03 + 0.01 0.05 0.02 0.02 0.01 0.02 - 0.00 0.04 0.01 0.33 0.27 0.32 + 0.02 0.35 0.15 0.42 0.37 0.42 + 0.04 0.44 0.20 0.23 0.21 0.22 + 0.01 0.29 0.11 0.20 0.18 0.19 + 0.01 0.27 0.06 0.27 0.23 0.24 - 0.05 0.35 0.05 0.10 0.06 0.09 + 0.04 0.10 0.02 0.07 0.06 0.06 - 0.00 0.07 0.02 0.26 0.25 0.25 - 0.00 0.31 0.06 0.40 0.31 0.38 + 0.06 0.42 0.08 0.04 0.02 0.04 + 0.00 0.10 0.01 0.27 0.21 0.22 - 0.03 0.93 0.16 15.68 13.72 15.28 + 0.90 26.01 6.15 0.67 0.46 0.65 + 0.19 0.93 0.44 0.86 0.60 0.84 + 0.22 1.15 0.60 0.05 0.04 0.05 + 0.01 0.05 0.01 0.14 0.12 0.14 - 0.01 0.23 0.02 0.95 0.75 0.93 + 0.16 2.94 0.65 0.00 0.00 0.00 - 0.00 0.00 0.00 2.13 1.39 1.68 + 0.19 16.08 1.39 0.14 0.14 0.14 - 0.01 0.19 0.05 0.38 0.36 0.36 - 0.01 1.00 0.11 0.01 0.01 0.01 - 0.00 0.20 0.00 0.15 0.00 0.03 - 0.12 1.83 0.01 0.00 0.00 0.00 + 0.00 0.02 0.00 4.62 3.85 4.61 + 0.63 6.92 2.13 3.58 2.99 3.55 + 0.41 5.85 1.55 0.05 0.04 0.05 - 0.01 0.07 0.01 0.07 0.06 0.06 - 0.01 0.08 0.03 0.04 0.03 0.03 - 0.01 0.04 0.01 0.12 0.11 0.12 + 0.02 0.24 0.04 6.41 6.08 6.27 + 0.15 11.88 3.52 0.06 0.04 0.06 + 0.01 0.08 0.02 0.02 0.01 0.02 + 0.01 0.03 0.01 0.04 0.04 0.04 + 0.00 0.04 0.01 0.36 0.32 0.32 - 0.05 0.48 0.13 0.01 0.00 0.01 + 0.01 0.03 0.00 0.48 0.40 0.47 + 0.04 0.54 0.11 0.03 0.03 0.03 - 0.01 0.04 0.01 0.04 0.00 0.04 + 0.00 0.08 0.02 0.75 0.60 0.72 + 0.08 0.68 0.16 0.79 0.65 0.79 + 0.12 0.89 0.24 1.03 0.81 1.03 + 0.18 1.15 0.31 0.34 0.23 0.28 - 0.06 0.52 0.03 0.04 0.03 0.03 - 0.01 0.04 0.02 0.04 0.03 0.03 - 0.01 0.04 0.01

WAI Cap Invest V 29 Walker River V 253 Walter Energy* O 771 Waseco Res V 358 Wealth Mnrls* O 722 Wealth Mnrls V 1977 Wellgreen Plat* O 51 V 201 Wescan Gldflds Wesdome Gold T 1171 West High Yld V 131 West Kirkland V 175 105 West Red Lake* O West Red Lake 527 Western Copper* X 287 T 284 Western Copper Western Potash T 284 Western Troy C V 505 Western Uran* O 6 Western Uran 4 O 8 Westhaven Vent* Westkam Gold V 3301 Westkam Gold* O 775 Westminster Rs V 2108 Westmoreland* D 1424 White Mtn Engy* O 226 Wildcat Expl* O 40 Wildcat Expl V 79 Wincash Apolo* O 10 Wolfden Res V 724 Wolverine Mnls V 73 Worldwide Res V 180 WPC Res* O 1 X-Terra Res V 182 Xander Res V 60 Xiana Mng V 5 Ximen Mng V 1572 XLI Tech Inc* O 859 Xtierra V 136 Xtra-Gold Res* O 62 Xtra-Gold Res T 278 Yamana Gold T 37093 Yamana Gold* N 59634 Yanzhou Coal* N 33 Yorbeau Res T 378 Zadar Vent V 800 Zazu Metals* O 53 Zenyatta Vent V 355 Zenyatta Vent* O 41 Zephyr Mnls* O 45 Zephyr Mnls V 119 Zimtu Capital V 41 Zincore Mtls V 15 Zonte Mtls V 261

0.03 0.03 0.03 + 0.01 0.05 0.02 0.06 0.05 0.06 + 0.01 0.08 0.02 0.10 0.06 0.10 + 0.02 0.50 0.01 0.05 0.03 0.05 + 0.01 0.05 0.02 0.80 0.60 0.79 + 0.19 0.71 0.10 1.04 0.80 1.02 + 0.18 0.95 0.14 0.23 0.00 0.22 - 0.00 0.35 0.12 0.06 0.00 0.05 + 0.02 0.06 0.01 1.78 1.57 1.73 + 0.08 1.82 0.89 0.24 0.00 0.24 - 0.01 0.41 0.17 0.12 0.09 0.10 + 0.01 0.14 0.04 0.19 0.15 0.18 + 0.00 0.25 0.02 0.27 0.21 0.27 + 0.02 0.34 0.01 0.63 0.59 0.63 + 0.03 0.66 0.20 0.82 0.76 0.82 + 0.02 0.87 0.29 0.19 0.18 0.19 - 0.01 0.34 0.17 0.04 0.03 0.03 - 0.01 0.05 0.01 1.27 1.20 1.20 + 0.00 1.80 1.19 1.63 1.54 1.54 - 0.01 5.00 1.20 0.11 0.11 0.11 - 0.00 0.12 0.10 0.04 0.04 0.04 + 0.01 0.06 0.02 0.04 0.03 0.03 - 0.01 0.05 0.01 0.10 0.09 0.09 - 0.01 0.18 0.01 9.29 7.94 9.19 + 1.06 28.42 3.44 0.10 0.08 0.08 - 0.02 0.46 0.07 0.11 0.07 0.11 + 0.04 0.07 0.02 0.14 0.00 0.14 + 0.05 0.16 0.02 0.10 0.07 0.07 - 0.04 0.35 0.06 0.16 0.13 0.16 + 0.03 0.15 0.05 0.15 0.11 0.11 - 0.04 0.38 0.08 0.03 0.03 0.03 - 0.01 0.06 0.01 0.07 0.07 0.07 - 0.01 0.08 0.07 0.25 0.19 0.25 + 0.01 0.25 0.06 0.40 0.40 0.40 - 0.02 0.46 0.19 0.03 0.03 0.03 - 0.01 0.10 0.03 0.10 0.07 0.10 + 0.02 0.15 0.02 0.09 0.07 0.09 + 0.01 1.50 0.07 0.03 0.02 0.03 + 0.01 0.04 0.01 0.36 0.31 0.36 + 0.00 0.38 0.12 0.47 0.41 0.47 + 0.01 0.50 0.18 6.22 5.22 6.20 + 0.76 6.70 1.89 4.80 4.08 4.80 + 0.63 5.19 1.38 5.54 5.21 5.53 + 0.26 9.31 3.66 0.09 0.09 0.09 - 0.01 0.17 0.06 0.23 0.20 0.22 + 0.01 0.26 0.01 0.18 0.15 0.17 - 0.01 0.24 0.08 0.83 0.74 0.81 + 0.01 1.78 0.63 0.64 0.57 0.64 - 0.00 1.37 0.47 0.19 0.16 0.16 - 0.01 0.19 0.15 0.25 0.20 0.20 - 0.05 0.25 0.08 0.20 0.18 0.19 + 0.01 0.34 0.12 0.01 0.01 0.01 - 0.01 0.03 0.01 0.08 0.00 0.08 + 0.02 0.15 0.02

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2016-06-07 7:41 PM

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2016-06-07 7:40 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / JUNE 13–19, 2016

15

www.northernminerjobs.com

Regional Manager Industrial Minerals, Exploration & Development Canada

Artisanal Gold Programme Officer Ottawa, Canada

Mineral Exploration and Development Consultant Timmins, On. Canada

Reporting to the Director Competence Center Materials – Canada Region,

Partnership Africa Canada (PAC) is a global leader in developing innovative

Are you looking for an exciting opportunity in one of Canada’s most prolific

this position is responsible for leading the Mineral Exploration & Resource

approaches to strengthen natural resource governance in high-risk and

and active mining areas? If so, consider this exceptional opportunity with

Development team as well as the development, planning and execution of

conflict regions. For 30 years, PAC has collaborated with partners to promote

the Ministry of Northern Development and Mines.

exploration projects on schedule, on budget, in alignment with the

policy dialogue and solutions for sustainable development. The Just Gold

Playing a key role in the monitoring and stimulation of exploration, you will

Company’s exploration strategy and in close coordination with internal and

project aims to develop an independent, equitable and sustainable system

lead and deliver the mineral exploration and development program, guiding

external stakeholders.

that brings legal, conflict-free and traceable gold from artisanal mine sites

components through the regulatory process.

in the Democratic Republic of Congo to international markets.

Mine Planning Engineer / Technician British Columbia, Canada

Geotechnical Engineer Rainy River, Ontario,

Chief Mining Engineer Nevada, USA

In this role, you will use your expertise to provide complex specialist

The Chief Mining Engineer is responsible for the development and

Do you want to be part of the development and start-up of one of Canada’s

underground planning services that support quarterly and annual

implementation of practical mine plans which allow for orderly development

premier mining operations? We are looking for dynamic individuals to join

projections. Your responsibilities will encompass all aspects of the mine’s

and exploitation of economically minable ore reserves. Oversees the

our team and live in our community as we pursue this exciting project. A

value chain, from mining reserves and resources to the production of

development of holistic long and short range mine plans including mine

competitive salary, performance bonus plan, and benefits, will be provided.

quality ore for processing.

services, infrastructure, and production. Supervises all technical personnel related to Mine Engineering, including contractors.

Mine Operations Manager Wells, BC, Canada

Mine Technologist Timmins, ON. Canada

Sr. Engineer, Maintenance McArthur River Saskatchewan, Canada

Lake Shore Gold Corporation is Roles and Responsibilities: Leader for the safe and sustainable development

seeking a Mine Technologist to support the Engineering department at our

of the Bonanza Ledge Mine operations; Responsible of the achievement

Timmins Mine site. General duties will include assisting in the long and short

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of the production and profitability objectives; Managing the complete

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ing department, your knowledge of equipment and mechanical design will

mining operations of the Bonanza Ledge Mine (contract mining and milling

be relied upon to support surface and underground operations. Additionally,

operations); Assessing the feasibility and the potential for commercial ben-

you will supervise a team of maintenance technologists and provide

efits of new sites; Managing budgets; Training and supervising staff.

technical design and planning expertise for capital and expense projects on site.

Sr. Specialist, Environmental Affairs Saskatoon, SK, Canada

General Manager, Long Harbour Operations Mount Arlington Heights, Newfoundland & Labrador

British Columbia Securities Commission Vancouver, BC. Canada As the Senior Geologist/Engineer you will conduct in-depth reviews and

As the General Manager, Long Harbour Operations, you are responsible

The sr. specialist, environmental affairs will be an effective and strong

analysis of technical reports and other scientific or technical disclosure,

for providing leadership and direction for a team of over 400 individuals.

problem solver, collaborator and communicator that is able to lead teams

including disclosure of resources and reserves. You will work with and

Reporting to the Vice-President of Operations, you are responsible for

with multiple departments and personalities to achieve business objectives.

provide expert advice to Commission staff, as well as interface with public

continuing the safe production ramp-up of the LHPP and ensuring

The sr. specialist will have strong technical expertise, advanced skills in

companies and the mining industry on securities related matters.

that systems and process management procedures are developed, imple-

data compilation and analysis and will have demonstrated strong oral and

mented and standardized to secure the current and long-term success of

written communication skills.

the facility.

Journeyperson Industrial Mechanic Northern Saskatchewan Sites, Canada You will be responsible for the installation, preventative maintenance and repair of all mechanical equipment on site. This will include repairs to equipment on surface and underground, as well as troubleshooting equipment failures and documenting repairs. You will be responsible for reading and interpreting blueprints, technical manuals and work procedures.

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EMAIL sales@mining-jobs.net or CALL 416-510-6772 AND S TA R T R E C R U I T I N G S M A R T E R T O D AY For full job details visit www.northernminerjobs.com and enter the Job Name in the search field

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2016-06-07 7:36 PM

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JUNE 13–19, 2016 / THE NORTHERN MINER

Dynacor readies maiden resource at Tumipampa in Peru GOLD-COPPER

| With Veta Dorada nearing completion, junior will have two small operating mills

BY LESLEY STOKES

D

lstokes@northernminer.com VANCOUVER

ynacor Gold Mines (TSX: DNG; US-OTC: DNGDF) is preparing to table the first-ever resource calculation at its Tumipampa gold-copper exploration project, 500 km southeast of Lima, Peru.

Jean Martineau, Dynacor's president and CEO, told The Northern Miner over the phone as he arrived at the 12th International Gold and Silver Symposium in Lima that the resource will largely encompass the high-grade gold found within the project’s Manto Dorado, Manto Nazareno, and Lisa epithermal vein and mantos systems, and is scheduled for completion soon.

He said construction of the company’s 300- to 600-tonne-per-day Veta Dorada processing facility in the town of Chala, 600 km south of Lima, is over 90% complete. The plant is scheduled to process ore bought from artisanal miners by July or August this year.

Once complete, Dynacor will own two operating mills in Peru, the other being its Metalex-Huanca plant — a 250-tonne-per-day facility, 450 km south of Lima, that has produced gold and silver since 1998.

“The new mill is going to be a big game changer for us, because it will increase our production, and therefore profit,” Martineau said.

“We’ll generate substantially more cash over the coming months, which will fund exploration at Tumipampa and drive the project forward.”

The company largely used internal cash f lows to pay for the US$15-million plant, he said, but it also used US$5 million from a US$10-million credit facility it closed in January.

Dynacor produced 15,807 oz. gold in the first quarter and generated US$20.4 million in sales, ending

Dynacor Gold Mines’ Tumipampa gold-copper property, 500 km south of Lima, Peru. DYNACOR GOLD MINES

the quarter with a net income of US$700,000, or US2¢ per share.

The company has released results of a 7,500-metre drill program that included 20 drill holes targeting the mantos and vein systems from underground exploration drifts.

A drill intercept from a moderately dipping mineralized structure known as “Manto Dorado” includes 10.21 grams gold per tonne and 0.96% copper over 3.7 true width metres, whereas the parallel-trending Manto Nazareno cut 2.24 grams gold and 4.4% copper over 3.5 true width metres.

A steeply dipping vein known as the “Lisa” crosscuts the structures, with drill holes returning 7.14 grams gold over 2.5 true width metres and 8.84 grams gold over 1 true width metre.

The work builds upon channel samples taken from drifts and raises along the mineralized structures. The Manto Dorado averaged

27.83 grams gold and 1.7% copper over 1.5 metres wide within a 26-metre-long drift, whereas a 65-metre raise built up-dip along the same mineralization averaged 21.88 grams gold and 1.7% copper over 1.2 metres wide.

In the Manto Nazareno structure, the company excavated a 31-metre raise, which averaged 8.87 grams gold at widths of 1.5 metres.

In the Lisa vein, a 5-metre drift averaged 16.11 grams gold at 1.9 metres wide.

“We did a lot of underground exploration because we had the possibility to start small production there, and we could use our mill to bulk-sample,” Martineau said.

The company plans to complete a 1,500-tonne bulk sample and process it in its Metalex-Huanca mill — 18 hours by road from the project — once Veta Dorada comes online.

So far, the mineralization has

been traced from surface up to 500 metres down-dip, and Martineau and his team reckons that mineralization could extend for another 2.3 km towards a porphyry system that was discovered during surface exploration late last year.

“When we first started with exploration we had just four high-grade gold veins. Now we’ve identified up to 45 gold veins, a huge skarn and a disseminated gold zone at surface — and we think the porphyry could be the mineralized source,” he said. “We have a much bigger project than we thought … and it’s evolving fast.”

The porphyry, known as “El Potro,” has been traced at surface for 1.7 km by 750 metres, and returned 25 surface grab samples ranging from 0.01% to 0.2% copper, and 14 samples ranging between 0.1 gram gold to 2.51 grams gold.

Only one drill hole in the recent drill program intercepted the

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“WE HAVE A MUCH BIGGER PROJECT THAN WHAT WE THOUGHT WE HAD ... AND IT’S EVOLVING FAST.” JEAN MARTINEAU PRESIDENT AND CEO, DYNACOR GOLD MINES

margins of the porphyry system, Martineau noted, revealing altered and fractured core possibly associated with a regional fault zone. A 0.6-metre sample from the drill hole returned 0.2% copper and 0.05 gram gold.

Exploration this year, Martineau says, will focus on geochemical and geophysical surface work to better define drill targets across the 48.4 sq. km project area.

The company expects to ramp up drilling at Tumipampa once cash flows from Veta Dorada.

Tumipampa sits at 4,500 metres above sea level on a barren plateau that straddles the AndahuaylasYauri porphyry and skarn belt to the east and a regionally trending corridor of epithermal gold and silver mineralization to the west — both known to host large base and precious metal deposits.

Dynacor’s closest neighbours include MMG, with its Las Bambas copper project to the east; Southern Copper (NYSE: SCCO), with its Los Chancas copper project to the east; Panoro Minerals (TSXV: PML), with its Antilla copper-molybdenum project to the south; and Bear Creek Mining’s (TSXV: BCM) La Yegua copper-molybdenum-gold project to the northeast.

North and northeast are Minas Buenaventura’s (NYSE: BVN) Orcopampa gold-silver mine; Hochschild Mining’s (US-OTC: HCHDF) Arcata gold-silver and Pallancata silver projects; Hudbay Minerals’ (TSX: HBM; NYSE: HBM) Constancia gold-copper mine; and First Quantum Minerals’ (TSX: FM) Haquira copper-gold project.

Dynacor has US$7.3-million cash in its treasury and its shares have traded within a 52-week range of $1.30 to $2.32 per share, and at $2.09 at press time.

The company has 37.4 million shares outstanding for a $75.2-million market capitalization. TNM

2016-06-07 8:04 PM