The Northern Miner March 21 2022 Issue 6

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After suspending operations, Kinross mulls a ‘full exit’ from Russia

Queensland Alumina is the world’s largest alumina refinery with access to a deep-water port in Queensland, Australia. RIO TINTO

GOLD

| Company has been operating in the country for almost 25 years

K

Rio Tinto cuts ties with Russian businesses over Ukraine war RUSSIA

| Decision will affect company’s aluminum and bauxite operations

BY CECILIA JAMASMIE

R

io Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) has become the first major mining company to announce it was cutting all ties with Russian businesses, joining a massive exodus of Western companies since Moscow’s invasion of Ukraine.

The world’s second largest miner, which operates aluminum refineries in Russia’s east together with aluminum producer Rusal International, had said it wanted to keep its relationships with local business “steady.” This, as the company was trying to avoid diesel supply issues at its giant Oyu Tolgoi copper-gold mine next door, in Mongolia.

On Mar. 10, however, the company said in an emailed statement that it was “in the process of terminating all commercial relationships it has with any Russian business.”

The miner not only is reviewing its 80-20 joint venture with Rusal in Queensland Alumina (QAL), which runs a refinery in the Australian northeast state, but it also plans to stop supplying bauxite and sourc-

ing alumina from Rusal’s Aughinish refinery in Ireland that’s a key supplier to Europe’s aluminum industry.

Rio was historically the largest supplier to the Aughnish plant, but the company has been looking to make its supply chain more resilient after the previous U.S. sanctions to Russia, in 2018.

It’s not clear what percentage of the plant’s bauxite supply and alumina production it currently ships, but Europe’s automakers have reason to be nervous.

Carmakers around the world were already forced to postpone the production of millions of new vehicles in 2021 due to the semiconductor shortage. An aluminum crisis could severely compound that problem.

Rio Tinto’s decision comes as more Western businesses turn their backs on Russia over the ongoing invasion of Ukraine. The conflict has already killed thousands and displaced more than two million people, quickly becoming the largest humanitarian crisis in Europe since the Second World War. Sanctions on Russia have largely excluded the energy sector, where

the country is a major player as the world’s third-largest oil producer and number two of natural gas.

Oil and gas companies, already feeling the heat from climate activists to invest in renewable energy, were among the first companies to announce their exit from Russia as they realized the potential risks to their reputations by continuing with business as usual.

Aluminum prices soared on the London Metal Exchange on the news of Rio’s plans and the U.K. government’s sanctions on Russian billionaire Oleg Deripaska, who has a stake in Rusal’s parent En+ Group International PJSC. The metal jumped as much as 5.8% to US$3,535 per tonne.

Deripaska is one of the seven Russian oligarchs targeted by the U.K. in an estimated £15 billion (US$20 billion) sanction hit.

Royal Dutch Shell Plc stopped buying oil from Russia and said it would cut links to the country entirely while the United States stepped up its campaign to punish Moscow by banning Russian oil and energy imports. TNM

BY NAIMUL KARIM

inross Gold (TSX: K; NYSE: KGC) may permanently exit Russia after operating in the country for about 25 years, a BMO metals and mining analyst said, as the nation continues to attack Ukraine.

On Mar. 2, Kinross announced that it would suspend its Russian operations following Western sanctions. However, in a research note to clients on Mar. 6, BMO analyst Jackie Przybylowski stated that the company is “likely to pursue a full and permanent exit from Russia — including potential sale of its assets in the country.”

The analyst, who recently spoke to Kinross management, also expects potential buyers to be limited to “Russian-based public or private miners.”

“We are in the process of evaluating next steps to land on the appropriate transition plan,” Louie Diaz, a spokesperson for Kinross Gold, told The Northern Miner by e-mail, when asked if the company had decided to pull out of Russia.

The news of Kinross Gold’s possible exit from Russia came days after Moscow spelled out the terms and obligations for foreign companies operating in the country.

Russia said firms could either stay, transfer their shares to Russian partners until they return to the market later, or permanently terminate operations, close production and dismiss employees.

While a number of Western companies have announced that they were quitting the country, some continue to operate.

BMO has removed Kinross Gold’s Russian operations from its estimates, but maintains the company’s ’outperform’ rating.

“Even with Russia entirely removed from our model, we still calculate a US$10.50/share oneyear target; which still represents a nearly 100% return to target,” wrote Przybylowski. “We continue to see significant value from Kinross’s flagship Tasiast mine, as well as Dixie (recently acquired with Great Bear Resources).”

Q1 2022 GLOBAL MINING SYMPOSIUM WRAP-UPS / 6

A gold pour at Kinross Gold’s Kupol mine in Russia. KINROSS GOLD

Kinross operates the Kupol underground mine and mill in Russia’s Far Eastern region of See KINROSS / 16 PM40069240

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THE NORTHERN MINER / MARCH 21—APRIL 3, 2022

3

Rio Tinto goes after Turquoise Hill in US$2.7B bid M&A

R

| Company seeks direct controlling ownership of Mongolian copper-gold mine

BY CECILIA JAMASMIE

io Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) has offered US$2.7 billion for the 49% of shares it doesn’t already own in Turquoise Hill Resources (TSX: TRQ; NYSE: TRQ) in a move that seeks to gain direct controlling ownership of the vast Oyu Tolgoi copper-gold mine in Mongolia.

The world’s second-largest miner is offering $34 per each outstanding share of Turquoise Hill Resources it does not already own, a 32% premium to the company’s closing price on Mar. 11.

“Rio Tinto strongly believes in the long-term success of Oyu Tolgoi and Mongolia, and delivering for all stakeholders over the long-term,” Rio Tinto CEO Jakob Stausholm said in a press release. “[The transaction] will simplify the ownership structure, and further strengthen Rio Tinto’s copper portfolio.”

The offer comes only two months after Rio Tinto and the government of Mongolia reached an agreement to complete the long-delayed US$6.9-billion underground development of the Oyu Tolgoi project in the Gobi Desert. That deal saw Rio agree to write off US$2.4 billion in loans and interest used by the government to fund its share of the development costs.

The non-binding buyout proposal will now be considered by the Turquoise Hill board, excluding Rio’s nominees, before going to shareholder vote. That includes persuading U.S. hedge fund Pent-

An employee at Rio Tinto’s Oyu Tolgoi mine in Mongolia. RIO TINTO

water Capital Management, which has accused Rio of concealing the real cause of the delays that have plagued the expansion and seen the budget climb from US$5.3 billion to US$6.9 billion.

Turquoise Hill said in a separate statement today that it will establish a special committee, comprised of independent directors, to review Rio’s offer.

Rio has had a rocky relationship with the Vancouver-based miner,

particularly over how to fund Oyu Tolgoi’s expansion. Rio has also drawn criticism from some of Turquoise Hill’s minority shareholders about the control it exerts over the company.

Rio currently controls and operates the Oyu Tolgoi mine, located 550 km south of Mongolia’s capital Ulaanbaatar, via Turquoise Hill’s 66% stake. The government of Mongolia owns 34%.

Once completed, the underground

“RIO TINTO STRONGLY BELIEVES IN THE LONG-TERM SUCCESS OF OYU TOLGOI AND MONGOLIA.” JAKOB STAUSHOLM CEO, RIO TINTO

section of Oyu Tolgoi will lift production from 125,000–150,000 tonnes in 2019 to 560,000 tonnes at peak output, which is now expected by 2025 at the earliest. This would make it the biggest new copper mine to come onstream in several years.

Rio, which has cut all ties with Russian businesses over the invasion of Ukraine, is working to avoid lack of supplies and fuel for Oyu Tolgoi.

Mongolia is bordered on the north

by Russia and on the south and east

by China, which leaves Rio with limited alternatives to bring in needed provisions.

Commenting on Rio’s move for Turquoise Hill, Alexander Pearce and David Gagliano of BMO Capital Markets, noted that the company’s “strategy over its stake in Turquoise Hill has been subject to discussion for many years, but we didn’t think it would end up offering to buy out the minorities based on previous form.” But the analysts added that the decision could make sense.

“In the past Rio Tinto has been happy to share the risk of its assets with minority shareholders, however, given the dearth of copper opportunities elsewhere, perhaps increasing its exposure to Oyu Tolgoi now makes sense and could simplify the remaining funding hurdles for the underground project,” they wrote in a research note to clients. “From a Rio Tinto perspective, with a strong balance sheet (US$1.6B net debt at December 2021) and expectations of US$12.6B FCF [free cash flow] this year, US$2.7B is easily affordable for the company.” TNM

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MARCH 21—APRIL 3, 2022 / THE NORTHERN MINER

THE VIEW FROM ENGLAND

EDITORIAL GLOBAL MINING NEWS · SINCE 1915

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Russia’s war on Ukraine sparks commodities upheaval

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early three weeks into Russia’s invasion of Ukraine, many questions about the conflict are still being debated. Could the West have prevented the crisis? Will the unprecedented level of sanctions levelled against Russia – which Russian President Vladimir Putin has referred to as “economic war” — stop the bloodshed? Will the commodities price

BY ALISHA HIYATE shock cause a global recession or a period of stagflation? And perhaps most uncertain, just how far is Putin willing to go to secure the former Soviet state?

Russia’s willingness to target civilians has been chilling to watch. But Putin’s warning ahead of the invasion to other powers not to intervene, threatening: “... consequences you have never encountered in your history,” along with his placing Russian nuclear forces on alert days later, fuelled fears of a catastrophic escalation.

While the invasion is not going as Putin had anticipated (Russian troops have experienced fierce resistance, significant losses, and even some embarrassing setbacks), it’s difficult to see how the conflict will be resolved. At presstime on Mar. 15, peace talks have been so far unsuccessful. Meanwhile, international sanctions have taken a huge toll on Russia’s economy.

Even if a breakthrough in peace talks is achieved in the near-term, the conflict has already triggered what are likely to be long-lasting changes in commodity markets. Many of these shifts could be beneficial to North American producers.

In addition to being the world’s third largest producer of oil, and second largest producer of natural gas, Russia is an important source of coal, refined uranium and palladium, fertilizer and grains. The conflict has caused commodity markets to blow up across the board.

The most dramatic example has been nickel, which shot up 250% over two days in March due to the perfect storm of tight supply, supply disruption fears, and a massive short squeeze. (Russia supplies about 17% of the world’s Class 1 nickel, used mostly in stainless steel, but also in rising demand for electric vehicle batteries.) In response to the volatility, the London Metals Exchange suspended trading in the metal on Mar. 8, after “disorderly” trading became disconnected from the underlying physical market, creating “systemic risk” in the market. Trading is slated to resume on Mar. 16.

With Western buyers snubbing Russian commodities and scrambling to replace that supply, analysts at BMO expect an eventual “redistribution” of Russia’s exports away from Europe and North America and toward China.

Bloomberg Intelligence analysts came to a similar conclusion in a March research note: “Russia may have established a new commodity world order that tilts reliable supply toward North America.”

Moreover, some analysts believe the conflict will also serve to accelerate decarbonization as well as a move to energy security for Europe. “[Russia’s actions] may inadvertently trigger a faster energy transition,” wrote Simon Flowers, chief analyst and chairman of Wood Mackenzie in a post on Feb. 24. “Threats to supplies and high prices resulting from the conflict could harden policy and action underway in the EU, UK and elsewhere to move away from fossil fuels.”

Indeed, the European Union is looking at ways to reduce its dependence on Russian oil and gas — revenues from which are still fuelling Russia’s war treasury — in a hurry. In early March, the International Energy Agency (IEA) outlined a 10-point plan to reduce reliance on Russian natural gas by one third within a year. Last year, 45% of the EU’s natural gas imports were from Russia, with Russian oil accounting for about a quarter of its total supply. (The U.S. has banned Russian oil outright, although it is in a far better position to do so as the world’s top producer.)

“Nobody is under any illusions anymore,” said IEA executive director Fatih Birol in a press release. “Russia’s use of its natural gas resources as an economic and political weapon show Europe needs to act quickly to be ready to face considerable uncertainty over Russian gas supplies next winter.”

The IEA plan includes diversifying natural gas sources, keeping nuclear plants that had been scheduled to close online longer, an accelerated buildout of new wind and solar energy capacity, and a short-term windfall tax on oil and gas companies. The plan is consistent with the IEA’s decarbonization plan, but it does note that the EU could pivot away from Russian energy faster by using more thermal coal and oil in the near term.

The European Commission went even further with a plan released on Mar. 8 to completely wean itself of Russian fossil fuels before 2030 – a very ambitious target given the EU’s current reliance on the energy giant. Like the IEA, however, it’s not abandoning its green energy aspirations.

“We must become independent from Russian oil, coal and gas,” said Commission President Ursula von der Leyen in a release. “We simply cannot rely on a supplier who explicitly threatens us. We need to act now to mitigate the impact of rising energy prices, diversify our gas supply for next winter and accelerate the clean energy transition. The quicker we switch to renewables and hydrogen, combined with more energy efficiency, the quicker we will be truly independent and master our energy system.”

On this side of the Atlantic, it’s worth noting that the realignment of commodity markets comes as efforts to develop a North American battery supply chain are starting to result in real investment in Canada. EV manufacturers have for some time been concerned with both security of supply of critical minerals and with ensuring their supply chains are not exposed to human rights risks or other ESG risks.

In early March, BASF announced it would open a facility in Bécancour, Que., to produce and recycle cathode active materials (CAM) for the North American EV market in 2025. Several days later, GM and POSCO Chemical announced they would build a new US$400-million CAM facility, also in Bécancour.

“GM and our supplier partners are creating a new, more secure and more sustainable ecosystem for EVs, built on a foundation of North American resources, technology and manufacturing expertise,” said Doug Parks, GM’s executive VP, Global Product Development, Purchasing and Supply Chain, adding that “Canada is playing an important role in our all-electric future.” TNM

COLUMN

| Uranium is hot once again

BY DR. CHRIS HINDE Special to The Northern Miner

I

live high on a cliff, within sight of two extremes of evolution, both rare. One is a set of dinosaur footprints on the foreshore of the Bristol Channel, and the other is a nuclear power station under construction across the water in Somerset.

The footprints are properly old, being left in Triassic mudstones by one of the first Sauropods perhaps 210 million years ago (I find it helpful to visualize this time span as numbers being counted very quickly for almost three years; with Homo sapiens arriving one day ago). Most dinosaurs lived in the Jurassic period (201 to 145 million years ago), and descendants of my dinosaur include the lumbering giants Brachiosaurus and Diplodocus (which grew to 26 metres long and lived 160 to 145 million years ago).

The Natural History Museum recently authenticated the tracks below me as belonging to a longnecked herbivore (that grew to 10 metres) called Camelotia (named after King Arthur’s nearby mythical castle). Camelotia would have been walking along the edges of a shallow inland sea near the centre of the super-continent Pangea, which started to drift apart relatively soon afterwards.

The other sight (fortunately further away) is even rarer, and comprises two nuclear reactors being constructed at Hinkley Point. The site is reported to be the largest single building project in Europe, and currently boasts over 20 cranes.

The U.K. opened the world’s first commercial nuclear-power station (at Windscale) in 1950, and about 20% of the country’s electricity is currently generated from eight nuclear reactors.

Nuclear power has been catapulted up the electricity-supply agenda in Europe by Russian President Vladimir Putin’s invasion of Ukraine. Natural gas provides 22% of the European Union’s energy, and 40% of this gas comes from Russia.

Global gas prices had already surged last year, with Europe suffering particularly badly because of low storage levels, high carbon prices, fewer liquefied natural gas deliveries and infrastructure outages. In 2021, gas prices in Europe rose from €15/megawatt-hour to over €150/MWh, and after retreating to below €80/MWh at the start

of this year, prices peaked recently at €340/MWh (US$380) before falling back sharply on more encouraging supply signals.

The prices of coal and oil have also risen, but it is uranium that is likely to see the greatest long-term impact from the outbreak of war in eastern Europe. Indeed, a reopening of the whole debate about the advantages and disadvantages of nuclear power is now likely.

Nuclear power provides about 10% of global electricity from 440 nuclear reactors in 33 countries.

According to the World Nuclear Association, 123 of these reactors are expected to close within 20 years, but there are 55 reactors already under construction in 19 countries, and 308 are expected to come online by 2040.

As Europe’s largest economy, and the country most reliant upon imports of Russian gas, Germany is at the centre of the burgeoning energy debate. The country has set itself a goal of being carbon neutral by 2045, and is planning to phase out coal-fired power stations by 2038.

Renewable energy accounted for almost 41% of Germany’s power supply in 2021, with wind contributing 20%, solar 9%, biomass 8% and hydroelectricity 3%. Coal contributed 28% last year, with gas adding 15% (over half of which comes from Russia), nuclear power 12% and oil 4%.

In contrast to France (whose 58 nuclear reactors supply 75% of the country’s electricity), Germany is currently due to phase out nuclear power by the end of this year. However, the German Vice Chancellor, Robert Habeck, recently announced his intention to further diversify the country’s energy supplies, and signalled that Germany might consider keeping its nuclear plants online.

The uranium price has reacted accordingly and recently breached US$60 per lb. Although almost back to the levels of 10 years ago, the price is still well short of the peak of US$128 per lb. reached in May 2007. It marks, however, a comforting cushion from uranium’s low of US$15 per lb. in November 2016; Nuclearsaurus now seems unlikely. TNM Dr. Chris Hinde is a mining engineer and the director of Pick and Pen Ltd., a U.K.-based consulting firm he set up in 2018 specializing in mining industry trends. He previously worked for S&P Global Market Intelligence’s Metals and Mining division.

DEPARTMENTS Editorial . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Professional Directory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17 Market News . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18 Metal, Mining and Money . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19 Stock Tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20-23

COMPANY INDEX Alba Minerals . . . . . . . . . . . . . . . . . . . . . . 15

GreenRoc Mining . . . . . . . . . . . . . . . . . . 15

Arianne Phosphate . . . . . . . . . . . . . . . . . 12

Kinross Gold. . . . . . . . . . . . . . . . . . . . . .1,16

BHP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16

Marathon Gold. . . . . . . . . . . . . . . . . . . . . 10

Black Iron . . . . . . . . . . . . . . . . . . . . . . . . . 16 Bluejay Mining . . . . . . . . . . . . . . . . . . . . . 15 Callinex Mines . . . . . . . . . . . . . . . . . . . . . 12 Century Global Commodities . . . . . . . . 12 Clean Air Metals . . . . . . . . . . . . . . . . . . . . 6 Electra Battery Materials . . . . . . . . . . . . . 8 Emerita Resources . . . . . . . . . . . . . . . . . . 10 Fjordland Exploration . . . . . . . . . . . . .12,13

Nighthawk Gold. . . . . . . . . . . . . . . . . . . . 15 Norilsk Nickel. . . . . . . . . . . . . . . . . . . . . . . 7 Noront Resources . . . . . . . . . . . . . . . .13,16 Orford Mining . . . . . . . . . . . . . . . . . . . . . 16 Rio Tinto . . . . . . . . . . . . . . . . . . . . . . . 1,3,16 Talon Metals . . . . . . . . . . . . . . . . . . . . . . . . 8 Tesla . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8

FPX Nickel . . . . . . . . . . . . . . . . . . . . . . . . 13

Turquoise Hill Resources . . . . . . . . . . . . . 3

Frontier Lithium . . . . . . . . . . . . . . . . . .9,14

UEX Corp. . . . . . . . . . . . . . . . . . . . . . .13,14

Glencore . . . . . . . . . . . . . . . . . . . . . . . . .8,16

Wheaton Precious Metals. . . . . . . . . . . . 10

GLOBAL MINING NEWS

THE NORTHERN MINER / MARCH 21—APRIL 3, 2022

5

Russia’s Ukraine invasion to fuel reorientation of commodity markets: BMO ANALYSIS

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| Report notes that Russia accounts for large share of uranium and palladium supply

Metal industry work at a steel mill. FG TRADE/ISTOCK

much less of the world’s mined uranium (around 7%).

“Nuclear power has been gaining momentum of late as an essential component to longer-term decarbonisation ambitions, with public opinion improving markedly,” Hamilton writes. “While the … attack on the Zaporozhe nuclear power plant may temporarily dampen some market sentiment, we do not foresee this impacting global ambitions to bolster nuclear power capacity, and instead believe that it will just encourage a decoupling from Russia, while encouraging mining and enrichment capacity ex-Russia.”

Palladium is the metal that’s most exposed to fallout from the conflict, with Russia accounting for 39% of global supply, according to the report.

BMO notes that the palladium market is structurally undersupplied until the middle of this decade, which could lead to further gains for the metal.

Palladium is crucial to catalytic converters in automobiles and traded at US$2,762 per oz. at presstime, after hitting a recent all-time high above US$3,165 per oz. on supply disruption fears.

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POLITICS

tory for nickel as well as aluminum (Russia provides 7% of global supply).

While the rise of gold and silver has been modest compared with palladium, nickel, aluminum, zinc and thermal coal, safe haven demand has lifted prices higher, with gold surging as high as US$2,061.80 per ounce on Mar. 8. BMO expects continued strength in precious metals prices as the world ponders the lengths that Russia is prepared to go to, especially after its shelling of the Zaporozhe nuclear plant in early March, says

ha

Chile steps closer to resource nationalism

Even though Russia accounts for considerably less of the world’s nickel — 7% of mined global supply and about 4% of refined supply according to BMO — the silvery white metal saw a historic price spike US$100,000 per tonne over Mar. 7-8 caused by a combination of tight inventory, a massive short squeeze, and the prospect of Russian sanctions cutting supply. Russia produces 17% of the world’s highest grade nickel used for batteries, according to Bloomberg.

BMO notes very tight global inven-

mu om

ussia’s invasion of Ukraine, already pushing up prices for an array of commodities rapidly higher since it began on Feb. 24 — including adding a record 250% spike in the price of nickel over two days in March — will have longer-lasting structural effects on metals and mining markets and supply, said BMO Capital Markets in a report released on Mar. 7.

The report, Ukraine & Russia: Identifying Exposure, outlined a variety of implications of the war and resulting sanctions against Russia.

Among the implications for metals and bulk commodities (one of eight investment-related themes explored in the report) are: further pressure on prices during a time of already high commodity inflation, especially over the next weeks and months; an acceleration of governments and companies’ activities to secure raw material supplies and critical materials chains; a reorientation of Russian commodities to China; and potentially, demand destruction.

“In commodity markets, price allocates resource. And now, with that resource highly constrained, the current price spike is to convince buyers not to purchase,” reads the metals and bulk commodities section of the report, written by Colin Healey, managing director, commodities research. “That in itself has a knock-on implication for global growth, particularly in terms of industrial output. We see demand (and ultimately price) risks rising in H2, once the global consumer of end commodity products has been dissuaded from purchasing by a squeeze on real incomes.”

While Russia’s attack on Ukraine has caused a price jump in a broad range of commodities, Russia’s share of metals supply is greatest for uranium and palladium.

Russia is a dominant supplier of refined uranium supply (42% of the global total), although it supplies

| Proposal could affect copper, lithium and gold mines

The Chilean flag above the capital city of Santiago. EDSEL QUERINI/ISTOCK

A

the report.

“The Russia-Ukraine conflict comes amid already-elevated levels of market uncertainty, which were being fuelled by concerns over the efficacy of China’s policy stimulus and multi-decade high inflation, and it is at times like these when we would expect gold, and to a lesser extent silver, to be well-supported by safe-haven demand,” says the report. “The collapse of the Russian rouble has also once again catapulted contagion risk in emerging markets to the fore, with potential ramifications on all markets difficult to grasp in their entirety, and not just those exposed directly to Russia, but also those reliant on Russia-based financing, Russia trade flows, and general market sentiment.”

The report also says a major implication of the conflict will be a longterm buildout of metals-intensive renewable energy capacity in Europe.

In the short-term however, Europe will continue to rely on fossil fuels, in particular thermal coal, as it tries to wean itself off Russian energy and achieve greater energy self-sufficiency. Newcastle thermal coal futures recently surged to a record US$440 per tonne, BMO notes.

“With gas and power prices jumping once more, we would not be surprised to see further cuts to European refined supply of aluminium, zinc, and ferroalloys,” reads the report. TNM

BY ALISHA HIYATE

BY HENRY LAZENBY

committee tasked with rewriting the Chilean constitution has approved an early-stage proposal that opens the door to the country nationalizing some of the world’s most significant copper and lithium mines.

The local media outlet El Mercurio reported on Mar. 7 that the constituent assembly’s motion brought by the

environmental committee received 13 votes in favour, with three against and three abstentions.

The proposal, targeting mostly large-scale mining of copper, lithium and gold, has yet to be approved by two-thirds of the full assembly to become part of Chile’s new charter, which will be put to a national referendum later this year.

See CHILE / 16

“As Canada’s leading provider of flow-through share capital, PearTree deploys over $300M annually for Canadian mineral exploration and development in all market conditions.”

Lisa Davis, CEO PearTree Securities lisa.davis@peartreecanada.com Find out more at peartreecanada.com

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MARCH 21—APRIL 3, 2022 / THE NORTHERN MINER

Investment in exploration, skilled labour, crucial to decarbonization: World Bank expert GMS

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| World needs to speed up production of critical metals needed for the energy transition

BY NAIMUL KARIM

rom heading towards a more “diversified and less concentrated” supply chain of critical metals to the need for skilled people in the global mining industry, World Bank mining specialist Martin Lokanc believes that the world needs to take a number of crucial steps to successfully transition away from fossil fuels and meet its net-zero goals.

Speaking at The Northern Miner’s first Global Mining Symposium of the year, Lokanc said the supplies of critical minerals needed for the energy transition are “more concentrated” when compared to the fossil fuel economy since the likes of coal and oil are quite widespread across the world.

For example, he noted that half of the world’s copper, nickel, cobalt, lithium and rare earths — all of which are required to make batteries for electric vehicles — are concentrated in about three countries, at a time when the world needs to produce about two times the amount of copper that it has mined in the last 10,000 years to meet its climate goals.

“I’m not concerned at all about geological availability, I think there’s enough resources. The question for me [is] can we produce

them at a sufficient quantity and in time, and I’m not sure how all that’s going to play out,” said Lokanc.

“But we need to find the resources.

And that’s something for governments, the World Bank and the private sector to work on together.”

Prices of critical metals have drastically increased in the last two years, as the world looks to meet its decarbonization goals.

One way to strengthen the supply chain is to invest more in exploration for metals, said Lokanc, especially outside of the few regions that enjoy the lion’s share of spending.

In terms of absolute dollars, Canada was the most explored country in the world in 2021, followed by Australia, the United States and China, but countries like South Africa attracted just 0.76% of the total exploration dollars, said the mining specialist. The Democratic Republic of Congo (DRC) got 1.2% and Saudi Arabia 0.75%.

“Africa, the Middle East, Central and South Asia… have 33% of the global landmass… but attract less than 10% of global exploration,” said Lokanc. One of the reasons behind that is that the geological mapping in some of these countries is “often dated,” as they use older technologies.

Countries might also face a

The World Bank Group building in Washington, D.C. USCHOOLS/ISTOCK

shortage in skilled workers as the world looks to extract more metals.

“When you think about the amount of copper that needs to be mined in the next 25 years, two times what we’ve mined in the past, where are the people going to come from to build and operate these mines in a responsible way?” Lokanc asked.

The responsible way includes keeping in check greenhouse gas emissions, which analysts expect to vastly increase in the coming years as the demand for metals increases.

BMO, in a report published in January, assessed six lithium-producing companies in its coverage

and said emission levels from lithium producers would rise in the coming years as the companies keep adding to their capacity.

The report projects about 60% of lithium capacity additions this decade to stem from spodumene conversion, which it says produces higher emissions than brine-based operations.

Ending emissions will be crucial to limit global warming and to ensure the world meets the goals of the 2015 Paris Accord, in which nearly 200 nations agreed to keep global temperatures within 2° Celsius above preindustrial times. The

global mining industry is responsible for 4-7% of greenhouse-gas emissions globally, according to McKinsey & Co. Lokanc said that it’s important for mining companies to realize that consumers will “want clean products” and that companies are already ensuring their supply chain remains clean through contracts that they wouldn’t normally have done before. “So, there’s a natural business case there,” he said.

The human rights issue in the supply chain is another aspect that needs to be resolved, says Lokanc.

For example, the DRC mines 60% of the world’s cobalt, 20% of which is produced through artisanal or small-scale mining, where children are often found onsite.

“If a mother needs to go to work with her husband at the mining site, there’s no daycare facilities and the child could accompany them… it’s not an easy thing to resolve at all.”

He added that the World Bank is looking at incentive schemes and subsidies to encourage families to send their children to school.

With all eyes on Russia’s ongoing invasion of Ukraine, Lokanc feels that geopolitical issues in the mining world will increasingly play an important role, “as we all seek for the same kind of limited resource base.” TNM

Rise of ESG comes with risks and opportunities for miners GMS

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BY DANIEL SEKULICH

nvironmental, social and governance (ESG) reporting has become more important in the mining industry, especially as companies seek fresh capital for projects, and as investors start to scrutinize ESG disclosures.

A Thought Leadership panel at The Northern Miner’s Q1 2022 Global Mining Symposium in late February explored the issues. Moderator Ani Markova, co-founder of Onyen Corp., began the discussion by pointing out that fund managers increasingly have a responsibility to disclose how they are using ESG information in the context of investment decisions. This will become even more important, she said, because “very soon, we will have a mandatory [requirement] related to disclosures imposed by Canadian regulators for all public companies.”

Jamie Horvat, chief investment officer of Oberon Capital Corp., a capital markets company that focuses on structuring and arranging charity flow through financing for mining companies, said ESG factors are important aspects in planning investment strategies.

From his perspective, looking at core values in depth and holding people accountable for their actions can create a positive investment environment that is both sustainable and beneficial to investors.

Horvat’s experience dealing with flow-through financing for juniors has also given him insight into the risks and opportunities that can be affected by ESG disclosures. One

| Panel highlights need to collect ‘granular’ data for ESG reporting

“VERY SOON WE WILL HAVE A MANDATORY [REQUIREMENT] RELATED TO DISCLOSURES IMPOSED BY CANADIAN REGULATORS FOR ALL PUBLIC COMPANIES.” ANI MARKOVA CO-FOUNDER, ONYEN CORP.

observation he made is the way ESG issues have come to be self-policed by the mining and financial sectors, owing to changes in governmental oversight, such as environmental protection.

“In the past we used to have environmental factors largely the responsibility of governments,” Horvat said. “But as governments have seen their debts and tax dollars really stretched, you’re seeing these environmental regulations being pushed out to consultants, and then it’s being pushed down to the companies and the boards and the investors to monitor their environmental footprint and the impacts.”

Horvat believes this is a positive process, as more investors are looking in greater detail at how mining companies operate. In his opinion, this brings more ‘eyeballs’ to such aspects of mining as “education,

The Q1 2022 Global Mining Symposium’s ESG Thought Leadership Panel, with (from left) Ani Markova from Onyen Corp., Jamie Horvat from Oberon Capital and Clean Air Metals’ Abraham Drost. THE NORTHERN MINER

training, local benefits, diversity, inclusion partnership with locals,” which, in turn, enhances a company’s social licence and increases its appeal for investors.

“If you have a positive strategy, and you’re setting your goals, you can use these ESG factors to set your long-term goals within your organization. So, they’re creating clear and accountable reporting lines and structure,” he said.

Abraham Drost, CEO of Clean Air Metals (TSXV: AIR), a platinum and palladium exploration company, talked about how he has become more aware of the importance of ESG reporting for the industry. It is something the mining executive said he understands is a hot button issue in the media, but one that is also crucial to the industry’s future. Drost believes being cognizant of the level of risk involved with projects in an open, transparent manner is critical for any business model.

“Let’s face it, we’re in the mining business,” he told the GMS audience. “At the end of the day what

we do will have an impact, pure and simple. So how can we ultimately ensure that our footprint is minimized? And that our long-term impact on the environment and the stakeholder groups — First Nations, Métis — are kept to a minimum?

And how do we actually design our project in such a way that we maximize the benefits to our stakeholders of the operation?”

According to Drost, Clean Air has created a ‘driving force’ for its ESG reporting. He said this was established early at the non-income generating exploration stage of their projects, creating a baseline that could show active and ongoing progress as the company moved through to the development cycle and then into production.

While Drost agreed with Horvat that governments no longer want to be solely responsible for policing the industry, he emphasized the need for the mining sector to become more active in managing their ESG reporting, and to look at the small details that make up a project.

“That’s all being pushed down further now, to board management and investor level, which is ultimately their responsibility. And hence, you need that granularity,” Drost said. “If you’re not providing that granularity, you’re just not going to get allocated the capital at all. Plain and simple.”

Oberon’s Horvat noted that, ultimately, it is up to investors to look at all the information available as they make their financial decisions.

“Investors have to make a choice as well and they have to think about what’s important to them,” he said.

They also need to decide whether they want to be ‘active’ or ‘passive’ investors.

“Do I want to be a passive investor and go with these large index ETF-type of firms? Or do I want to take a hands-on approach and invest for myself with purpose and really focus on sustainable investing and that social licence and that whole ESG aspect. We can’t forget that investors have that choice about whether they want to be engaged or not.” TNM

GLOBAL MINING NEWS

THE NORTHERN MINER / MARCH 21—APRIL 3, 2022

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Bolsonaro backs opening up Indigenous lands to mining BRAZIL

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| President cites Russia-Ukraine impact on potassium prices

BY NAIMUL KARIM

razilian president Jair Bolsonaro has reiterated the need to allow mining in the nation’s Indigenous territories to strengthen food security, as he expects Russia’s ongoing invasion of Ukraine to increase the price of potassium.

The far-right leader said that it was important for the country to not depend on foreign nations for commodities available in abundance in Brazil.

“With the Russia/Ukraine war, today we run the risk of a shortage of potassium or an increase in its price,” Bolsonaro wrote on Twitter on Mar. 2.

In addition, the president said a 2020 bill that would allow mining in Indigenous lands should be approved.

Brazil depends on Russia for about 20% of its fertilizers. Overall, the nation imports nearly 80% of its fertilizers, a figure that goes up to

Brazilian president Jair Bolsonaro. PALAÌCIO DO PLANALTO

96% for those containing potassium, according to the agriculture ministry.

Mining in Indigenous lands is illegal in Brazil, but environmentalists

Sanctioned Russian nickel could slow global EV adoption

worry that the Bolsonaro administration could open them to mining development that would threaten the country’s Indigenous groups.

| Skyrocketing price could increase Western reliance on Russian oil and gas

S

anctioning Russian nickel will slow the adoption of electric vehicles (EVs) and hinder the decarbonization of Western economies, according to a new report from GlobalData.

As a result, such actions will simply mean Western countries will be more reliant on Russian oil and gas for longer,” the analysts argue.

According to GlobalData’s Mining Commodity Analyzer, Russia was the third-largest nickel producer in 2021, producing over 200,000 tonnes. As nickel is used in the production of EV batteries, any sanctions placed on Russian nickel will cause EV manufacturing prices to increase further, threatening adoption and decarbonization.

“Geopolitical issues such as the Russia-Ukraine situation disturb the fine balance of battery metal supply chains. A skyrocketing nickel price would have major repercussions on countries’ climate ambitions worldwide and will ultimately hamper the adoption of EVs,” said the group’s thematic research team analyst, Daniel Clarke, in a press statement.

“Now is a critical time for EV adoption, as advanced economies aim to accelerate decarbonization.

However, the extra costs will be felt somewhere, either hitting automakers’ profits or being passed on to customers.”

However, the sanctions would not be a disadvantage to everyone.

“Russia has reportedly been looking to reduce the impact of sanctions by turning to Asia for trade. EV and battery companies in China may well step in and buy the commodity at lower prices. China already has a strong position in the battery metal supply chain, and buying Russian nickel on the cheap due to sanctions would further strengthen its globally competitive position,” said Clarke.

Meanwhile, the West’s efforts to offset the Russian supply losses could stifle EV penetration rates.

It could also impede the industry’s efforts towards the reshoring and ESG-proofing of battery supply chains, two critical challenges that automakers have been grappling with for the last few years.

“It is possible that another nickelproducing nation such as Indonesia or the Philippines could step up and supply Western automakers, but this would lead to two negative consequences for companies downstream,” cautions fellow analyst Lil Read.

“Firstly, Western automakers would see an increase in emissions across their supply chains — as these two producing countries are geographically further afield and frequently engage in environmentally unfriendly practices. Secondly, this would lead to an increase in the reliance on China for companies downstream, as Chinese companies play a key role in the main nickel mines in these countries,” said the analyst.

Considering other battery types that may have the potential to increase in popularity because of the situation, Read expects battery innovation to find a way, albeit not overnight.

“We expect that lithium-ion phosphate batteries, which do not contain nickel or cobalt, will increase popularity and adoption over the medium term if the conflict continues,” said Read.

GlobalData has previously warned that lithium has its limitations.

With annual EV production set to skyrocket to 12.8 million cars by 2026, with over half coming from China, weaknesses in lithium-ion supply chains will also conspire with emerging geopolitical issues to slow electric vehicle adoption and demonstrate China’s dominance of the EV market. TNM

the Association of Brazil’s Indigenous Peoples (APIB) and Amazon Watch criticized the bill and said that it contradicted the Brazilian Constitution.

The passage of the bill would drive the destruction of 16 million hectares of Amazon rainforest, an area larger than England, the report, entitled Complicity in Destruction IV, stated.

“This assault on Indigenous lands and lives is manifested in Bill 191/2020, which aims to permit industrial and wildcat mining on Indigenous lands where they are currently prohibited, by denying the right of native peoples to veto such activities,” the report said.

It said there are about 2,500 active mining applications that overlap 261 Indigenous lands, according to Brazil’s National Mining Agency.

“These applications were filed in the name of 570 mining companies, mining associations, and international groups that have applied to exploit 10.1 million hectares of land,” said the report. TNM

LME cancels nickel trading after price soars past US$100,000 a tonne

NICKEL

BY HENRY LAZENBY

Rosana Miranda, campaign advisor for the non-profit Amazon Watch told The Northern Miner that opening Indigenous lands to mining has been a priority for the Bolsonaro administration from “day one.” As such, she says it is “no surprise that Bolsonaro is trying to use the current external context as yet another attempt to push his agenda forward.”

Miranda further described Bolsonaro’s remarks on the need to mine Indigenous lands to prevent the shortage of potassium as “misleading and exaggerated.”

“Studies show that all demand for potassium in Brazil could be satisfied by reserves that are mostly out of the Amazon, and completely off the limits of Indigenous lands,” Miranda said. “Furthermore, even if mining on Indigenous lands is to be allowed, there’s a long way to make this exploration viable, which wouldn’t respond to the urgent needs Bolsonaro alludes to.”

In a report published in February,

NICKEL

| Move marks first such suspension of trading since 1980s ‘Tin Crisis’

BY CECLIA JAMASMIE

T

he London Metal Exchange (LME) cancelled nickel trading on Mar. 8 after a firsttime 250% price spike triggered by Western sanctions against major producer Russia, which left brokers struggling to pay margin calls against unprofitable short positions.

Prices for the metal, a key ingredient in batteries that power electric cars and high-tech devices, soared to a record above US$100,000 a tonne amid a vicious short squeeze — the largest-ever on the LME. The 145-year-old exchange responded by halting trade and in a later update announced the cancellation of all trades executed on or after midnight (U.K. time) on Mar. 8 and deferring delivery of all physically settled contracts.

The LME said the move followed a close monitoring of the ongoing impacts of Russia’s invasion of Ukraine, as well as the recent “lowstock environment and high pricing volatility environment observed in various LME base metals, and in particular nickel.”

The move, BMO analyst Colin Hamilton said, will see questions resurface as to the efficacy of the LME to act as the market of last resort after the short squeeze in copper seen late last year.

“It is unlikely this is the last of extreme volatility we see in commodity markets,” Hamilton wrote.

The debacle brings back memories of one of the bourses darkest periods, known as the “Tin Crisis” of 1985, which saw the LME stopping tin trading for four years and pushed many brokers out of business.

“Although no such suspension like this has happened since the tin crisis in 1985-86, the move in LME three-month prices to US$100,000 per tonne, from Friday’s close at US$29,130 per tonne, is likely to

The operations control centre at Norilsk Nickel’s Skalisty nickel mine in east-central Russia. NORILSK NICKEL

be a spike,” Will Adams, head of Battery and Base Metals research at FastMarkets said in an emailed statement.

The analyst believes that most of the buying pressure likely came from distressed shorts having to cover their positions on the exchanges, boosted by fears about supply from Russia and low levels of visible inventory on the LME. But Adams sees prices falling back “before too long.”

Nickel prices have steadily climbed in the past year as battery makers try securing steady sources of the metal, which quadrupled its value in one week on fears of further curbs on supply.

“We can expect nickel users in the growing market for batteries will be watching this volatility uneasily, particularly while the market is closed,” Adams said.

Trading is set to resume on Mar. 16, with new conditions in place, including daily price limits (up and down) for all base metals, and the deferral of delivery of some contracts due for delivery before Mar. 23. The LME also noted that a large

client with a large short position — unnamed but understood to refer to Tsingshan Holding Group — has secured support of a banking consortium that could “mitigate” further “disorderly conditions.”

Tsingshan’s short position in nickel reportedly ballooned to US$8 billion on paper before trading was suspended. The Chinese nickel producer announced on Monday that it’s come to an agreement with the banks under which they will not make margin calls or close out the company’s nickel positions, Reuters has reported.

Russia is responsible for about 10% of the world’s production, and Moscow-based Norilsk Nickel (MCX: GMKN) is the biggest provider of battery-grade nickel at 15% to 20% of global supply.

Demand for high-grade nickel was already set to outstrip supply this year because of the increasing popularity of electric vehicles.

Goldman Sachs has forecast the nickel market to be in a 30,000tonne deficit in 2022, up from their August forecast of a 13,000-tonne deficit. TNM

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WWW.NORTHERNMINER.COM

MARCH 21—APRIL 3, 2022 / THE NORTHERN MINER

EV metal demand accelerates in the second half of 2021 MARKET ANALYSIS

A

BY HENRY LAZENBY

62% jump in passenger electric vehicles (EVs) registrations in the second half of 2021 to 5.8 million units continues to drive an intensifying demand in the battery metals sector, the latest data release from Adamas Intelligence shows.

According to the research and advisory firm, an 86% increase in passenger EV registrations in the Asia Pacific region positions it as the top EV market, followed by the Americas (51% growth year-overyear) and Europe (34% rise yearover-year).

The watt-hours deployed in the Asia Pacific region in the second half of 2021 rose 141% over the same period in 2020, contributing a corresponding 134% increase in lithium, 77% increase in nickel and 75% increase in cobalt consumption over the same period.

In the second half, the total global battery capacity deployed onto roads in all newly sold passenger EVs combined amounted to 177.2 GWh, 92% more than was deployed globally a year earlier.

Tesla (Nasdaq: TSLA; NEO: TSLA) continued to lead by battery capacity deployed onto roads globally, installing more watt-hours into newly sold EVs than its five closest competitors combined.

Adamas says just seven cell suppliers globally (CATL, LG Energy Solution, Panasonic, BYD, Samsung SDI, SK On and CALB) were collectively responsible for more

| Data from Adamas Intelligence shows greatest growth in graphite demand

than 88% of all battery capacity and battery metals deployed onto roads globally in passenger EVs in the second half of 2021.

During the period, global leader CATL deployed 183% more watthours of battery capacity onto roads worldwide than the same period prior, translating to a 171% increase in lithium, 138% increase in nickel, and 114% increase in cobalt deployed onto roads over the same period.

The deployment of lithium-ironphosphate LFP cells (in watt-hours) increased 426% over the last six months of 2020, leading to a drop in the average amount of nickel (-2%) and cobalt (-9%) consumed per EV sold.

A boost to battery metal demand The increasing rates of EV deployment translate into increased metal demand. During the second half of 2021, another 107,200 tonnes of lithium carbonate equivalent (LCE) were deployed onto roads globally in the batteries of all newly sold passenger EVs combined. That is an 88% increase year-on-year. About 56% of all LCE units were deployed as carbonate and 44% as hydroxide.

Moreover, in the second half of 2021, 84,600 tonnes of nickel were deployed onto roads globally in the batteries of all newly sold passenger EVs combined, 59% more than in the second half of 2020.

This also meant surging cobalt demand. In the second half of 2021, 18,200 tonnes of cobalt, 23,600 tonnes of manganese, and 159,200

LCE deployed

tonnes of graphite were deployed onto roads globally in the batteries of all newly sold passenger EVs combined, up 48%, 62% and 101% over the same period the year prior, respectively.

In the second half of last year, Tesla deployed over 1,500 tonnes of cobalt onto roads globally, 17% more than it deployed in EV batteries in the second half of 2020 and roughly twice as much as the next two EV makers in line. Mercedes deployed 790 tonnes of cobalt onto roads globally in the second half of 2021, an increase of 28% over the same period of 2020, while Hyundai deployed 740 tonnes, an increase of 20% over the previous year’s second half. TNM

Capacity deployed globally

Cobalt deployed in passenger EVs during 2021 H1

Deployments by cell supplier

Deployment by chemistry

ALL CHARTS COURTESY OF ADAMAS INTELLIGENCE

Closure plan approval keeps Electra Battery Materials’ refinery on track for Q4 ONTARIO

| First cobalt sulphate production expected in December

Nickel deployed

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Electra Battery Materials’ cobalt refinery site northeast of Cobalt, Ont. FIRST COBALT

I

BY JACKSON CHEN

n another important milestone towards its goal of developing a sustainable battery supply chain in North America, Electra Battery Materials (TSXV: ELBM; US-OTC: ELBMF), formerly known as First Cobalt, has obtained final approval of the updated closure plan for its hydrometallurgical facility in Ontario.

Electra’s business strategy is to produce sufficient battery material on an annual basis to supply 1.5 million electric vehicles. To execute this plan, the company aims to restart the hydrometallurgical facility and integrate the refinery into a larger battery materials park.

The facility, which would be one of two major cobalt sulphate refineries outside China, is the first part in Electra’s four-phase battery materi-

als park project.

In the coming years, Electra intends to build further processing capacity for nickel sulphate, recycling of primary and secondary battery scrap materials and precursor production.

Electra has been working within the existing refinery footprint to recommission electrical, mechanical and instrumentation equipment.

Last month, the company received its industrial sewage works permit for the facility and subsequently filed its final closure plan for its refinery expansion project.

Approval of the closure plan now keeps the project on track for commissioning in December 2022. Prior to that, in mid-2022, Electra intends to perform bulk sample testing of black mass from recycled lithium batteries, based on extensive test work conducted over an 18-month

period. Commercialization of the battery recycling plant is expected in 2023.

This approval enables the company to accelerate new construction and industrial activities at site. The pouring of concrete pads for the solvent extraction plant is expected to begin within the next few weeks, with the building shell completed by early summer, Electra said.

In February, Electra launched a battery materials park study in partnership with Glencore (LSE: GLEN), Talon Metals (TSX: TLO), and the governments of Canada and Ontario.

The group is collaborating on engineering, permitting, socio-economic and cost studies associated with the construction of a nickel sulfate plant as well as a battery precursor cathode active materials (PCAM) plant adjacent to Electra’s cobalt refinery and recycling plant. TNM

SPECIAL FOCUS

CANADIAN EXPLORATION DANIEL SEKULICH/THE NORTHERN MINER

Canada’s capital formation credentials remain a siren call for mine developers FINANCE

F

Frontier Lithium boosts resource ahead of prefeasibility | 2021 PEA forecast a US$974M NPV for PAK project ONTARIO

| Exchanges look to modernize to support evolving needs of miners

BY HENRY LAZENBY

or more than a century, Canada has been the global leader in capital formation for the mineral exploration and development industry. However, in the wake of modern demand for niche technology minerals, a general underperformance in mining equities and dwindling investor interest, the mining finance sector needs to innovate to help keep its participants engaged and keep them from considering listings elsewhere.

During The Northern Miner’s recent Global Mining Symposium, industry veteran Ian Telfer said Canada had a strong track record of conducting mine finance based on a proud history of discovery success. It had prompted investors to develop a penchant for high-risk investments.

“This really started with some of the bigger deposits found 100 years ago in Kirkland Lake and in parts of British Columbia that showed the world that Canada had the resources and the expertise to develop these deposits and create value for shareholders and employees,” he said.

“And from then it went on to become very much a Vancouverbased junior market that was very successful in the 1960s, ‘70s, ‘80s and ‘90s, raising money for junior companies. And it was this willingness to put up money at high risk that differentiated Canada as a source for funding.”

Telfer added that events such as the Bre-X scandal of the 1990s helped refine the market by improving regulations, forcing companies to become more responsible. “Corporate governance is a much bigger issue now, and so, I hope that BreX-type scandals are behind us,” he said.

With over three decades of gold industry experience, Telfer pointed to one of the perennial problems goldbugs face. Over the long term, gold shares don’t outperform the regular stock market.

“The challenge for the gold mining industry, because of the fluctuations in the gold price, is that the share price of most gold majors had barely moved up or down over the past 20 years,” said Telfer.

“That has discouraged investors worldwide, especially from the large capital pools in the United States, from investing in the gold industry.

On the junior side, as Silicon Valley continues to show us, the thing you need is success stories” he added.

“Nothing makes people invest quicker than if their brother-in-law or their next-door neighbour just made a killing in a gold stock.”

Telfer lamented that one of the biggest challenges to capital formation over the past decade was the few exploration success stories that led to a rocketing share price.

“And so, people are increasingly

WARCHI/ISTOCK

“I THINK AN EXCHANGE CAN PLAY A VITAL ROLE IN HELPING COMPANIES UNDERSTAND LIQUIDITY, HELP THEM WITH INVESTOR AWARENESS, AND HELP THEM MAXIMIZE ACCESS TO TRADING.” JOS SCHMITT, PRESIDENT AND CEO, NEO GROUP

nervous about risking the money because they haven’t heard a success story in a while. The combination of long-term mediocre returns for the majors and the lack of success stories for the juniors, I think, are putting us in the market we’re in right now.”

He likened the situation to the age-old chicken-and-egg conundrum. “A success story will lead to the capital, and capital will lead to a success story. And I think it will have to be a discovery success that kicks everything off.”

Trading liquidity Telfer’s comments beg the question, what are some ways of improving capital formation?

Jos Schmitt, president and CEO of the NEO Group of companies, thinks he has the answer.

He agrees with Telfer that there was a discontinuity between Canada’s great mining legacy and the missing success stories today.

In his view, the quality of many of the mining companies has been deteriorating. “I think that the traditional exchanges have played a role in this,” he said during the GMS. “When I talk about deteriorating quality, that refers largely to the criteria that you need to follow to go public on venture exchanges, which in my eyes, are not sufficient. And if we could bring that standard up… more to a level of senior exchanges, I think that will inspire more investor confidence,” Schmitt said.

He also contends that this is partly why companies listed on venture exchanges don’t see the stocks being marketable. “There’s a reason why they’re not included in global benchmarks.”

A second reason he puts forward for declining investor confidence is that the exchanges have “lost their mojo a bit.” In Canada, companies and exchanges started to focus much more on maximizing shareholder value than how to maximize the service to the issuer’s core constituents, capital raisers and investors.

“I think an exchange can play a vital role in helping companies understand liquidity, help them with investor awareness, and help them maximize access to trading.

And why is this very important?

Think about when you do your initial raise and you go public, you’re going to need more. It’s not going to stop with one raise, you’re going to do a secondary one.

“And if your stock is not liquid, it will lead to capital dilution. A liquid stock, a stock that is doing well, will also be able much more rapidly to start benefiting from your listings in other places in the world to get access to more capital.”

Schmitt said traditional exchanges were the venues where some of the greatest evils of industry investment thrived, tarnishing capital markets, including pump and dump schemes, predatory short selling, and naked short selling.

“These are three phenomena that are still omnipresent in our market.

And they don’t help us build investor confidence in the industry,” Schmitt said.

“When I talk with some of the large investors in Europe or the U.S., they are aware of this. We must tackle this. We have to address this because it’s bad for the company.

It’s bad for the investor and bad for See MINE FINANCE / 10

Workers collect samples at Frontier Lithium’s PAK project, 175 km north of Red Lake, near the Manitoba border. FRONTIER LITHIUM

BY NAIMUL KARIM

W

ith the aim to become a producer that will supply raw materials for about half a million electric vehicles annually by 2025, Frontier Lithium (TSXV: FL; US-OTC: LITOF) has stepped up its pace by quadrupling indicated resources at its Spark deposit in northwestern Ontario.

Spark now hosts 14.4 million tonnes grading 1.4% Li2O, up from the previously estimated 3.3 million tonnes grading 1.59% Li2O, after the company conducted two drill programs last year covering 3,269 metres.

Located about 175 km north of Red Lake, in an emerging lithium mineral district in the Canadian Shield dubbed the “Electric Avenue,” the Spark deposit is part of the company’s flagship PAK lithium project, which also includes

the PAK deposit. The two deposits are located about 2 km away from each other and early studies outline two open pits at the deposits for the future mine.

According to David Ewing, Frontier’s vice-president of Sustainability and External Affairs, Spark’s latest update, which also adds new inferred resources of 18.1 million tonnes grading 1.37% lithium oxide, “increases the magnitude” of the PAK project.

“It shows battery producers, governments, communities and other stakeholders that we have the resources to back the project and the production,” Ewing told The Northern Miner in an interview.

“The resource is now the highest grade and second largest in North America.”

Lithium’s rising global demand due to the world’s decarbonization See FRONTIER LITHIUM / 14

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10

MARCH 21—APRIL 3, 2022 / THE NORTHERN MINER

MAC appeals for more investment ahead of federal budget | Need for ‘heightened investment’ in lithium, rare earths R&D

SPECIAL FOCUS CANADIAN EXPLORATION

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Marathon grows potential gold inventory at Valentine | Drilling encounters ‘wide prevalence of gold mineralization’ outside of resources

NEWFOUNDLAND

CRITICAL MINERALS

An aerial view of the Nechalacho rare earths mine pit in Canada’s Northwest Territories. VITAL METALS

T

BY NAIMUL KARIM

he Mining Association of Canada (MAC) has urged the federal government to invest more in critical minerals in this year’s budget to avoid “slipping behind” its competitors in the sector, while revealing its annual report on the state of Canadian mining.

Pierre Gratton, president of the association that includes about 50 of Canada’s leading mining companies, told The Northern Miner in an interview that the sector needed “heightened investment in research and development,” especially for the development of lithium and rare earth elements in the country.

He also hoped that the Liberal government would stick to its promise to double the mineral exploration tax credit for critical minerals, aside from supporting the building of infrastructure such as roads in areas like the Yukon or Nunavut, where there’s plenty of potential for exploration.

“We would like to see some enhanced public geoscience focused on critical minerals,” said Gratton.

“Besides gold, we haven’t found much new in the metal space and certainly not base metals in the last twenty years… We need more exploration in Canada focused on base metals.”

The Canadian mining sector contributes $107 billion to the national GDP and is responsible for

MINE FINANCE from 9

the shareholder.”

Schmitt added that there were several global capital pools that the mining industry was not tapping.

For this reason, the NEO Exchange is in the midst of being acquired by the Chicago-based exchange company Cboe Global Markets Inc. for an undisclosed amount.

“By combining NEO with a US$14 billion global exchange group based in the U.S., we’re going to look at new ways to provide issuers with global exposure and trading liquidity,” said Schmitt.

Juniors lead growth Meanwhile, the head of global mining at the TMX Group in Toronto, Dean McPherson, tells The Northern Miner it has enjoyed considerable success on the junior venture exchange.

The group recently released its 2022 Venture 50 list, in which junior mining issuers featured prominently.

Of the five industry sectors, mining companies had the highest average share price increase of about 572% and a market cap increase of

19% of Canada’s total domestic exports. It employs 692,000 people directly and indirectly across the nation.

It is also a global player with several of the world’s biggest mining companies listed in the country. But MAC’s president believes that there are clear signs that show Canada falling behind its competitors and that the country was no longer the “mining powerhouse” it used to be.

“In the early 2000s we were the second largest producer of nickel in the world; we are now sixth. We have slipped from our top five position for many commodities over the last 15 to 20 years,” Gratton said.

“We are still significant, but we are not what we were, and we need to try and turn that around.”

While the report does note an uptick in base metals exploration in Canada, it was still small and at low levels, Gratton said. He particularly stressed the need to “incentivize” the production of nickel sulphate and other materials in the battery metals space and added that Canada needed to double its current production by 2030 just to preserve its market share of nickel.

With regards to the annual report, Gratton noted that the total number of jobs in the sector in 2021 was slightly down from 2020, which he described as a positive, since it shows that the industry was able to recover quickly from the pandemic. TNM

nearly 1,000%. The majority of mining companies on the 2022 Venture 50 list focus on lithium and battery metals.

“The list is representative of the growth and evolution of the earlystage company ecosystem in Canada. Over the past year, the 2022 Venture 50 companies created $13.6 billion of market capitalization and had an average share price appreciation of 293%,” he said in an interview.

The exchange’s major advantage lies precisely in its long history of successfully attracting the capital global miners need. “Of course, we are not sitting back basking in our success. The great thing about our market is that we are constantly innovating,” McPherson said.

“We’re constantly developing products in-house, working with issuers to prepare them for the shift, if you will, in investor climate and investor demand, particularly around ESG.” “For instance, we don’t think any of our competitors have done as much as we have for issuers, both after they have listed in terms of the marketing and the support we give them in showcasing their compa-

BY JACKSON CHEN

M

arathon Gold (TSX: MOZ) has received the latest drill assay results from last year’s drilling at its Valentine gold project in central Newfoundland, confirming the “wide prevalence of gold mineralization” at the property outside of the confines of current mineral resources at the Marathon, Leprechaun and Berry deposits, the company said.

There are also two smaller deposits, Victory and Sprite.

The Valentine project hosts measured resources of 32.6 million tonnes grading 1.83 grams gold per tonne for 1.9 million oz. and 24.1 million indicated tonnes grading 1.57 grams gold for 1.2 million oz.

There are an additional 29.6 million inferred tonnes grading 1.72 grams gold for 1.6 million oz.

The project is currently undergoing its required environmental assessment process prior to beginning construction, targeted for 2022.

The latest drill results include 22 of the 28 holes completed at the Victory deposit in 2021, all of the 16 holes completed at the Sprite deposit, and 21 of 24 holes completed at the potential waste rock dump.

At the Victory deposit, all 22 of the reported holes returned significant assays of greater than 0.7 g/t gold. The objective of drilling the deposit was to test for a “Main zone” type configuration of gold mineralization adjacent to the Valentine Lake shear zone, as seen at the Leprechaun and Berry deposits. Highlighted Victory drill holes include 11 metres of 4.04 grams gold per tonne, including 1 metre of 36.7 grams gold in hole VGD-21-071; 9 metres of 2.05 grams gold, including 1 metre of 10 grams gold; 5 metres of 2.5 grams gold; and 14 metres of 0.94 grams gold in hole VGD-21-064; and 33 metres of 0.88 gram gold in hole VGD-21-078.

“We are particularly encouraged by the Victory area, where we are delineating an extensive system of alteration and gold mineralizing fluids over a broad area,” Matt Manson, Marathon’s presi-

nies,” he said.

On the 2022 Venture 50 list, four companies are so-called ‘unicorns,’ each having market caps of greater than $1 billion — a new record for the Venture 50 program.

According to McPherson, technology companies on this year’s list saw a 156% increase in share price and a 309% increase in market cap.

Four of the 10 top technology companies on the list serve the blockchain/cryptocurrency space.

The 2022 TSX Venture 50 winners were selected based on yearover-year performance across three equally weighted criteria: growth in market capitalization, share price appreciation and value traded for the year ended Dec. 31, 2021.

The top-ranked company across all five sectors was Emerita Resources (TSXV: EMO), a Canadian natural resource company.

Other key takeaways from the list were that the average company on the 2022 Venture 50 was 200% larger (based on market capitalization) than companies on the list from just 10 years ago.

Finance alternatives Meanwhile, finance alternatives

Aerial view of the mining camp at Marathon Gold’s Valentine Lake gold project in Newfoundland. MARATHON GOLD

dent and CEO, commented in a release. “This merits additional drilling in 2022.”

Drilling at the Sprite deposit occurred in between areas of historical drilling, where the existing mineral resource estimate is based.

As at the Victory deposit, the objective here was to test for a “Main zone” type configuration of gold mineralization adjacent to the Valentine Lake shear zone.

In 2020, Marathon undertook a condemnation drill program of approximately 3,000 metres around the location of the proposed waste rock facility, north of the Marathon open pit area. Gold mineralization in four of these initial holes was observed in a localized area, prompting a follow-up drill program of 3,744 metres last year.

Sixteen of the 21 holes reported from the MWRF area had intercepts of greater than 0.7 g/t, including hole MA-C-21-032, which hit 19 metres of 3.02 grams per tonne gold, including 1 metre of 43.5 g/t; and hole MA-C-21-044, which hit 26 metres of 1.25 g/t over 26 metres.

While Marathon does not consider the site to have the potential to form an economic deposit, the drilling exercise at the waste rock dump has demonstrated that the more brittlely deforming granitoid rocks of the Valentine Lake property, such as those underlying the Leprechaun, Berry and Marathon deposits.

According to Marathon, these rocks are prospective for gold mineraliza-

have taken up the slack where traditional exchanges fall short.

Wheaton Precious Metals (TSX: WPM; NYSE: WPM) president and CEO Randy Smallwood tells The Northern Miner that the early-stage exploration or development phase is usually “a little bit early” in organizing project debt. “Because of that, you typically must go to some of the more challenging suppliers of project debt — some of the more focused groups, not the general banks. And so, all project lenders require an equity contribution in terms of how you’re going to fund this project going forward,” Smallwood said.

That’s where the metals streaming model it helped pioneer comes into play.

“Streaming is considered an equity contribution. And so, we’ve had great success, mainly because at the stage that these companies are, they’re all trading at a discount.”

Smallwood agrees that there must be a better way to provide better support from the public markets for development companies.

“Right now, their shares do trade at a substantive discount to the net asset value of the assets they’ve

tion wherever they occur, even at significant distances away from the Valentine Lake shear zone contact.

“The mineralization at Sprite, as well as at the proposed site of the Marathon waste rock facility, appears more localized, but is reflecting the ubiquity of gold mineralization almost everywhere along the length of the Valentine Lake shear zone which has been explored to date,” Manson added.

Marathon also recently announced that is has purchased the historical 7.5% net profit interest royalty covering certain mineral resource areas on the property.

The royalty relates to certain properties at the Valentine project initially granted to Reid Newfoundland Company in the early part of the last century, in connection with the development of the Newfoundland railway. It was initially reserved in 1905 and amended in 1948 to provide for a 7.5% net profit interest on all minerals. The royalty continues to apply today in the areas of the Leprechaun and Sprite deposits and part of the Berry deposit.

As consideration for the royalty, Marathon paid $500,000 cash and issued approximately 1.3 million common shares valued at roughly $4 million to Reid. The company has also agreed to pay Reid an additional $3 million cash upon the formal release of the project from both the applicable provincial and federal environmental assessment processes. TNM

uncovered and that they’re trying to develop going forward. That’s one of the reasons that we at Wheaton have had great success because we’re willing to pay very close to net asset value for the production of the precious metals from these assets to help fund them as they grow these projects and build them forward,” he said.

“Whereas they’re trading at a discount in the marketplace, typically at about 0.2 to 0.4 times net asset value,” Smallwood said.

The other benefit, in his view, is the value that’s delivered once Wheaton puts its ‘stamp of approval’ on a developer, which covers a holistic approach including aspects from an ESG, community and technical perspective.

“And in fact, we’ve got plenty of examples; all you must do is go back and look at the companies we’ve supported,” Smallwood said.

“Once they announced that stream …their share price outperforms. It strengthens their share price. It makes future equity financings less costly because they can sell the shares at a higher price, so they don’t need as much dilution.” TNM

GLOBAL MINING NEWS

SPECIAL FOCUS CANADIAN EXPLORATION

THE NORTHERN MINER / MARCH 21—APRIL 3, 2022

11

JOINT VENTURE ARTICLE

Aerial view of the Pickle Crow gold project in Ontario. AUTECO MINERALS

Auteco Minerals grows resource by 30% at Pickle Crow in Ontario

BY NORTHERN MINER STAFF

Auteco Minerals’ (ASX: AUT) updated mineral resource estimate for its flagship 70%-owned Pickle Crow project “positions it as a potential world-class gold deposit situated within a tier-one mining jurisdiction,” says Darren Cooke, the company’s chief operating officer.

The Australian junior’s latest drilling campaign at Pickle Crow in northern Ontario, about 400 km north of Thunder Bay, intercepted high-grade mineralization and increased the project’s JORC-compliant mineral resource by 30%, adding 514,000 oz. of gold to the previous estimate in June 2021.

Pickle Crow now contains an inferred resource of 8.9 million tonnes grading 7.8 grams gold per tonne for 2.23 million contained gold ounces.

Cooke says that Auteco’s substantial investment in drilling since it assumed control of the property in March 2020 has resulted in “rapid and low-cost growth in the resource at Pickle Crow and has added 1.23 million oz. of gold at an average discovery cost of A$17.58 ($16.48) per oz. of gold in just sixteen months.”

The drilling “targeted both resource growth and early-stage exploration and allowed us to make remarkable progress in discovery and extension of the mineralized vein system,” he said. “The speed and relatively lowcost at which we’ve been able to grow the resource demonstrates the quality of the project and the massive potential for growth of the orebody.”

The updated resource estimate includes drill results from 29,883 metres of a 50,000-metre diamond core drill program that started last June and focused on near-mine discovery, extension of the known mineralized veins, and infill drilling to better define the orebody.

Highlights included drillholes AUDD0246, which intersected 7.3 metres grading 33.3 grams gold per tonne from 9.4 metres downhole; AUDD0200, which returned 2 metres

Darren Cooke, Auteco Minerals COO, on a drill rig at Pickle Crow. AUTECO MINERALS

of 68.3 grams gold from 470.7 metres; and AUDD0166W1, which hit 1.8 metres of 21.2 grams gold from 838 metres.

Gold was first discovered at Pickle Crow in the early 1930s. From 1935 to 1966, the Pickle Crow mine produced 1.5 million oz. of gold at 16 grams gold per tonne and remains one of Canada’s highest-grade historic gold mines.

The 500-sq.-km Pickle Crow property lies within the prolific Uchi subprovince of Ontario, which hosts several world-class gold mines and deposits. These include Evolution Mining’s (ASX: EVN) Red Lake underground mine, approximately 250 km west of Pickle Crow; the Musselwhite underground mine, about 120 km to the north, owned by Newmont (TSX: NGT; NYSE: NEM); and First Mining Gold’s (TSX: FF; US-OTC: FFMGF) Springpole project, one of the largest undeveloped deposits in Canada, 150 km to the west.

The core shack at Auteco Minerals’ Pickle Crow gold project.

AUTECO MINERALS

To date, Auteco has completed approximately 92,000 metres of drilling at Pickle Crow that has identified multiple types of mineralization on the property. These include a high-grade narrow quartz vein resource, which the latest drilling has increased to 6.4 million tonnes at 9.3 grams gold per tonne for 1.92 million oz. of gold. And an alterationhosted near-surface resource within a Banded Iron Formation (BIF) containing broad zones of sulphide mineralization that the drilling has grown to 2.5 million tonnes at 3.8 grams gold per tonne for 304,000 oz. of gold.

According to Cooke, the mineral resource lies within a 2.8-km zone of the northeast-trending core mine shear zone. The ore zones are interpreted to extend beyond a depth of 1,500 metres based on historical drilling on the property.

“This blend of narrow and bulk styles of mineralization has the potential to provide us with

considerable operational flexibility, with the sulphide resource hosted by the BIF amenable to bulk mining methods including open-pit extraction and bulk underground mining,” he said.

Recent drilling on the BIF returned significant intercepts of high-grade mineralization, including holes AUDD0228, which intersected 10.5 metres of 3.6 grams gold from 126 metres, and AUDD0220, which returned 19.5 metres of 3.3 grams gold from 340.7 metres.

In addition to the potential scale and grade of the resource at Pickle Crow, Cooke says the project also benefits greatly from being located in a tier-one mining jurisdiction.

“The project can be accessed yearround via a paved road that connects with provincial highway 590, is only a few hours’ drive from the airport at Sioux Lookout, and has a power line running through the property that would provide the project with clean, inexpensive hydroelectricity. The long

history of mining in the region also offers the project a skilled workforce close at hand.”

The property also contains an existing 225-tonne-per-day processing plant. Constructed in 2004 but never commissioned, the plant consists of a crushing circuit, ball mill, and concentrators.

Cooke said that “this inherited infrastructure provides a pathway to a low-capital, staged start-up production and the potential for early cash-flow generation.”

“We have options to restart the plant and generate early cashflow as we continue to define the size of the geological system and determine the right-sized infrastructure that will be required to maximize economic returns in the long term. Options include a restart and upgrade of the processing plant to 900 tonnes per day and to add carbon-in-leach processing to the existing gravity circuit, which could be achieved for as little as $40 million.”

Auteco plans to complete the 50,000-metre drill program on Pickle Crow over the next few weeks. It currently has five drill rigs turning on the property, two of which are focused on extending the current resource area and three are focused on regional exploration targets outside the historic mine area.

At the close of 2021, Auteco had A$10.5 million ($9.8 million) in the treasury and recently added an additional A$20 million ($18.7 million) via a capital raising “so we are wellfunded to continue our exploration and resource growth program at Pickle Crow,” said Cooke.

The company also has a joint venture on the Limestone Well vanadium-titanium project in Western Australia.

The preceding Joint-Venture Article is PROMOTED CONTENT sponsored by AUTECO MINERALS and produced in cooperation with The Northern Miner.

Visit www.autecominerals.com for more information.

12

MARCH 21—APRIL 3, 2022 / THE NORTHERN MINER

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CANADIAN EXPLORATION SNAPSHOT: SEVEN JUNIORS EXPLORING THIS COUNTRY

BY MARILYN SCALES

Arianne Phosphate’s Lac à Paul phosphate project in Quebec, 200 km north of Saguenay. ARIANNE PHOSPHATE.

Canada is among the world’s premier jurisdictions for mineral exploration and mining and has become a go-to destination for the industry. Below, we present seven companies with exciting projects to watch. n ARIANNE PHOSPHATE Arianne Phosphate (TSXV: DAN; US-OTC: DRRSF) is focused on its shovel-ready Lac à Paul phosphate project north of SaguenayLac-St-Jean, Que. Once in production, this operation could create 1,000 jobs and contribute $12 billion in economic benefits to the region, according to the company.

Arianne is also in talks with the Nova Scotia government about building a phosphoric acid plant in Belledune.

Lac à Paul has a large resource base capable of supporting production for over 50 years. The proven and probable reserves stand at 472.1 million tonnes grading 6.88% phosphorus pentoxide (P2O5). There are also 702.7 million measured and indicated tonnes at 7.16% phosphorus pentoxide and 26 million inferred tonnes at 6.58% P2O5. These numbers represent only the Paul deposits and their extensions. Resource estimates for four other phosphate deposits have also been made.

A 2013 feasibility study outlined a 26-year open pit mine and mill (located at the Saint-Rose-duNord port) capable of producing 3 million tonnes of apatite concentrate (38.6% P2O5) annually. The initial capital commitment would be US$1.2 billion, an amount to be paid back in less than five years.

The phosphate price per tonne used in the study was US$213, compared to the total operating cost of US$93.68 per tonne. Lac à Paul is fully permitted. The study forecast a net present value with an 8% discount rate of $1.1 billion and an internal rate of return of 16.7%, both after-tax.

Arianne completed an internal update to these figures in 2020, improving grade and recovery substantially, however the study has not been released. The company says it is possible to make a 40% concentrate using lower temperature process water. Recoveries would be higher at 91% to 92% rather than the 90% estimated in the 2013 feasibility study. Offtake and marketing agreements are in place.

Arianne Phosphate has a market cap of $108 million. n CALLINEX MINES Callinex Mines (TSXV: CNX; US-OTC: CLLXF) is exploring established mining camps near Flin Flon in Manitoba, Brunswick in New Brunswick, and Buchans in Newfoundland. The three regions have a long history of mining copper, gold, zinc, and silver.

In the third quarter of 2021, Callinex discovered the Rainbow deposit at its 100%-owned Pine Bay copper-gold project. Drilling has returned 37 metres grading 6% copper, including 1 metre of 18.81% copper and 1 metre of 18.3% copper from hole PBM138. Hole PBM-129-W2 returned 67 metres grading 2.73% cop-

The camp at UEX’s Christie Lake property. UEX.

per, including 13 metres of 8.75% copper and 2.1 metres of 17.6% copper. The last hole, PBM129-W1, returned 4.9 metres grading 15.2% copper, including 2.8 metres of 21% copper. Assays are pending on about half of the holes in the 35,000-metre drill program completed last year.

In New Brunswick, the company is testing the Nash Creek project, which is also wholly owned. A 2018 preliminary economic assessment outlined an open pit mine with a 10-year mine life. There are two zones with total indicated resources of 13.6 million tonnes grading 2.68% zinc, 0.58% lead, 17.8 grams silver per tonne, and 3.21 grams gold per tonne. The project also has total inferred resources of 5.9 million tonnes grading 2.68% zinc, 0.47% lead, 13.9 grams silver per tonne and 3.11 grams gold per tonne. The estimate used a 1.5% zinc-equivalent cut-off grade.

Nash Creek has a pre-production capex of $168 million and an after-tax payback of 2.8 years.

The after-tax net present value with an 8% discount rate is $128 million, and the internal rate of return is 25%.

Callinex’s 100%-owned Point Leamington volcanogenic massive sulphide (VMS) project in Newfoundland has a pit-constrained indicated resource of 5 million tonnes grading 0.9 gram gold per tonne, 12.2 grams silver per

tonne, 0.54% copper, 0.01% lead, and 1.39% zinc (2.49 grams goldequivalent per tonne). The in-pit inferred resource is 13.7 million tonnes grading 0.8 gram gold per tonne, 14.04 grams silver per tonne, 0.36% copper, 0.02% lead, and 1.74% zinc (2.24 grams goldequivalent per tonne).

An out-of-pit inferred resource of 1.7 million tonnes grading 0.9 gram gold per tonne, 15.3 grams silver per tonne, 0.35% copper, 0.07% lead, and 2.72% zinc (3.06 grams gold-equivalent per tonne) has also been calculated.

The most recent drilling at Point Leamington expanded a highgrade zinc-gold zone, which remains open at depth. The best intersect was 4.7 metres grading 15.05% zinc, 437 grams gold per tonne, 57.88 grams silver per tonne, and 0.36% copper.

Callinex is also drilling the Superjack and Headway VMS project near the former producing Brunswick #12 mine.

Callinex Mines has a market capitalization of $43.9 million. n CENTURY GLOBAL COMMODITIES Century Global Commodities (TSX: CNT; US-OTC: CEUMF) is investigating three major iron ore projects in Quebec. The company’s flagship property is the 100%owned Joyce Lake direct shipping ore (DSO) project. Located about 19 km northeast of Schefferville

and straddling the border with Labrador, the project is poised for near-term production, having a completed environmental impact statement and having received major permits.

A 2015 feasibility study on Joyce Lake using an iron ore price of US$95 per tonne, outlined an open pit mine life of five to seven years, producing about 2.5 million tonnes of lump and fines product annually. The post-tax net present value (NPV) with an 8% discount rate was $61.4 million and the internal rate of return (IRR) 13.7%. The capex of $96.6 million could be paid back in just under five years. Proven and probable reserves stand at 17.7 million tonnes grading 59.7% iron.

A 2015 preliminary economic analysis of Century’s nearby Full Moon taconite project forecast a mine life of more than 30 years.

Using the same iron ore price of US$95 per tonne, the study put the NPV (8%) for that mine at $3 billion and the IRR at 12.4%. The initial capex of $7.2 billion could be paid back in 6.3 years. Full Moon has measured and indicated resources of 7.3 billion tonnes grading 30.2% iron, and inferred resources of 8.7 billion tonnes at 29.9% iron.

Last year, Century Global analyzed Joyce Lake and Full Moon as a single undertaking and reported that the post-tax economics were much improved: an NPV (8%)

of $766.2 million and an IRR of 75.2%. The project would pay for itself in 1.2 years after the start of production.

At the company’s 100%-owned Duncan Lake magnetite project near Radisson in the James Bay region of Quebec, a PEA completed in 2013 forecast a 20-year life. Using a base case iron ore price of US$125 per tonne, the early stage study outlined a posttax NPV (8%) of $2.2 billion and an IRR of 15.9%. Payback of initial capex of $3.9 billion would take 4.8 years, after taxes.

Century Global is also the sole owner of the Black Bird DSO project 65 km northwest of Schefferville and the Hayot taconite project 20 km north of Schefferville.

Century Global has a market capitalization of about $17.2 million. n FJORDLAND EXPLORATION Fjordland Exploration (TSXV: FEX; US-OTC: FEXXF) is focused on its Renzy nickel-copper project, which it says could become Canada’s next nickel mine. The project is located near Maniwaki, Que., about 290 km northwest of Montreal. The former Renzy mine operated from 1969 to 1972 when 650,000 tonnes were mined and concentrates were sent to Falconbridge in Sudbury, Ont. The past-producer is known for high-grade intersects such as 10.8 metres of 1.3% nickel and 1.8% copper drilled in 2005. A National Instrument 43-101 compliant resource estimate estimated 51,000 indicated tonnes at 0.78% nickel and 0.72% copper and an inferred resource of 280,000 tonnes grading 0.82% nickel and 0.89% copper.

Fjordland was granted an option in 2020 to earn 100% of Renzy (previously known as Vulcain) by owner Quebec Precious Metals and is particularly interested in the potential to outline large mineralized bodies at depth, deeper than 100 metres below surface.

It has identified three high priority drill targets as having a similar electromagnetic signatures as that from the past-producing Renzy pit area. No modern surveying or drilling has been done

See SNAPSHOT / 13

GLOBAL MINING NEWS

SPECIAL FOCUS CANADIAN EXPLORATION

The South Voisey’s Bay property in Labrador. FJORDLAND EXPLORATION.

SNAPSHOT from 12

south of the shear zone, although a magnetic high similar to the one at the pit has been identified. Based on last year’s virtual time-domain electromagnetic survey, Fjordland plans to drill at Renzy this winter.

The company is also exploring in Labrador at its South Voisey’s Bay project, which is located in an intrusive complex similar to that supporting Vale’s large Voisey’s Bay copper-nickel mine, 80 km to the north. Fjordland says over $2.8 million has been expended at the project since 2017, and in 2020 the company completed geophysical reinterpretation and conducted a small geophysical survey.

Fjordland optioned 100% of the project from Commander Resources, and then invited High Power Exploration, a private company led by Robert Friedland, to earn a 65% interest in the project.

The company also holds a minority share in the Milligan West copper-gold project in central British Columbia, and earlier this year acquired the Witch coppergold porphyry project west of Mount Milligan, B.C. Fjordland Exploration has a market capitalization of $7.5 million.

FPX NICKEL FPX Nickel’s (TSXV: FPX; USOTC: FPOCF) flagship is the Decar nickel project in central British Columbia. The Baptiste deposit at the property could support one of the world’s 10 largest nickel mines producing 99 million lb. nickel annually in each of 35 years of production.

One interesting aspect of the Decar project is that the nickel mineralization occurs as awaruite, a natural nickel-iron alloy containing 75% nickel, 25% iron and no sulphur. The operation could produce both a ferronickel concentrate for the stainless steel market and separate nickel and cobalt sulphates for the electric vehicle (EV) market.

At a cut-off grade of 0.06% Davis tube recoverable (DTR) nickel, the deposit has 2 billion indicated tonnes grading 0.122% DTR nickel for 5.4 million lb. contained metal.

The inferred resource is 592.9 million tonnes at 0.114% DTR nickel for 1.5 billion lb. contained nickel.

A preliminary economic assessment completed in 2020 put the n

pre-production capital requirement at US$1.7 billion, followed by sustaining costs of US$1.1 billion.

The project would pay for itself in four years after taxes and have an all-in sustaining cost of US$3.12 per lb. nickel. The project was given an after-tax net present value with an 8% discount rate of US$1.7 billion and an internal rate of return of 18.3% using a nickel price of US$7.75 per pound.

FPX is moving the Decar open pit project toward a prefeasibility study, including metallurgical testing and pilot testing to optimize production of ferronickel concentrate, nickel sulphate and cobalt sulphate.

Six kilometres north of the Baptiste deposit, FPX has made another discovery at the Van target. The first drill program there, which started last year, returned 101 metres grading 0.15% DTR nickel starting at 27 metres from the surface. Drilling will continue this year.

The company has other exploration projects including Mich in Yukon and Orca, Wal and Klow in B.C. FPX Nickel has a market cap of $150.5 million. n NORONT RESOURCES Noront Resources (TSXV: NOT; US-OTC: NOSOF) was the target of a heated takeover contest, won by Australian miner Wyloo Metals last year. A shareholder vote on the takeover is slated for mid-March and the acquisition is expected to close in the first quarter. Noront’s assets are located in Ontario’s Ring of Fire, near James Bay. It holds 100% interests in the Eagle’s Nest highgrade nickel-copper-platinum group metals deposit, the Blackbird chromite discovery, and the Black Thor chromite deposit. It also holds a 70% interest in the Big Daddy chromite deposit and a 100% interest in the Black Label deposit.

With so many riches in the ground, there remains much to be settled about the Ring of Fire — Indigenous participation, rail or road access, economic production decisions, and financing. A ferrochrome production facility is under consideration, perhaps in Sault Ste. Marie, Ont. Noront has already produced a preliminary economic assessment for the Eagle One deposit (2008),

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13

An aerial view of Callinex Mine’s Pine Bay project in Manitoba. CALLINEX MINES.

a PEA at McFaulds Lake (2010), a prefeasibility study for Eagle’s Nest (2011), a feasibility study for Eagle’s Nest (2012) and a 43-101 technical report for the Nikka copper-zinc deposit (2020).

The first development in the Ring of Fire will probably be Noront’s Eagle’s Nest project. The feasibility study gave the project an after-tax net present value with an 8% discount rate of $543 million and an internal rate of return of 28%. A conventional 3,000 tonne per day, blasthole open stope underground mine with paste backfill is planned. Returning the tailings underground as fill means there would be no management facility at surface.

The Eagle’s Nest project has

proven and probable reserves of 11.2 million tonnes grading 1.68% nickel, 0.87% copper, 0.89 gram platinum per tonne, and 3.09 grams palladium per tonne. The inferred resource is 9 million tonnes at 1.1% nickel, 1.14% copper, 1.16 grams platinum per tonne, and 3.49 grams palladium per tonne.

Production of concentrates containing 34.2 million lb. nickel, 19.2 million lb. copper, 23,470 oz. platinum and 90,022 oz. of palladium annually is planned.

Capital costs were estimated at $609.4 million with operating costs of $1.1 billion over the life of the project. The study used metal prices of US$9.43 per lb. nickel, US$3.60 per lb. copper, US$1,600 platinum per ounce, and US$599

palladium per ounce.

The decision to begin development on Eagle’s Nest or any other of Noront’s projects in the Ring of Fire is dependent on the new owner.

Noront Resources has a market cap of $605 million. n UEX CORPORATION UEX Corp. (TSX: UEX) is focused on northern Saskatchewan’s Athabasca Basin, where it has interests in several advanced exploration stage uranium projects and one wholly owned nickel-cobalt project.

The most advanced of UEX’s undertakings is the Horseshoe

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Century Iron Mines’ Joyce Lake DSO project, approximately 20 km northeast of Schefferville, Que. CENTURY IRON MINES

SNAPSHOT from 13

Raven project between Cameco’s Rabbit Lake and McClean Lake uranium mines. The deposits lie between 100 and 450 metres below surface with no sandstone cover.

The company is currently investi-

gating the potential of using heap leach techniques to recover the uranium oxide.

The Horseshoe deposit contains an indicated resource of 5 million tonnes grading 2.15% uranium oxide for 23.6 million lb. contained uranium oxide, and the Raven de-

posit contains an indicated resource of 5.4 million tonnes at 0.117% for 13.8 million lb. contained uranium oxide.

The company also holds a 66% direct interest (along with joint venture partner JCU Canada) in the Christie Lake uranium project.

The property hosts the Paul Bay, Ken Pen and Orora deposits about 9 km northeast of and along strike with Cameco’s MacArthur River uranium mine. With a 0.2% cutoff grade, the three deposits have a total inferred resource of 588,000 tonnes grading 1.57% uranium oxide (U3O8) for 20.35 million lb. contained uranium oxide.

UEX plans 9,000 metres of drilling this winter at Christie Lake to target basement-hosted deposits below, down-dip and down-plunge of the known deposits. The downdip extension of previous uraniferous holes in the gap zones between the deposits will also be drilled.

FRONTIER LITHIUM from 9

Noront Resources’ Esker camp in Ontario’s Ring of Fire. NORONT RESOURCES

goals has compelled lithium-producing firms to expand their assets.

Frontier’s PAK property is one of the more advanced lithium projects in Canada and received $363,000 in funding from the Ontario government last May to help the company demonstrate its lithium extraction process through a pilot project.

Five months later, the company said that the pilot produced batteryquality lithium hydroxide monohydrate from the PAK deposit.

But analysts warn that the increasing need for lithium could also contribute to greenhouse gas

Strategically Balanced Uranium Equity

Targets have been chosen after completion of a structural reinterpretation of the Yalowega trend.

UEX’s cobalt-nickel project, West Bear, was discovered during exploration of the area surrounding the West Bear uranium deposit between 2002 and 2005 in the eastern part of the Athabasca Basin.

The West Bear uranium deposit now forms part of UEX’s 100%owned Hidden Bay project. UEX has spun out CoEX Metals to advance the West Bear cobalt-nickel project.

Previous drilling in one hole at West Bear returned 8 metres grading 4.9% cobalt and 2.08% nickel, and in a second hole, returned 10.5 metres of 2% cobalt and 1.26% nickel. The indicated resource is 1.2 million tonnes grading 0.19% cobalt and 0.21% nickel for 5.1 million lb. contained cobalt and 5.7 million lb. contained nickel. UEX estimates that 87.2% of the cobalt

and 78.9% of the nickel is contained within a high-grade core. The deposit is open in all directions and suitable for open pit mining.

The company’s Shea Creek project is located in the western Athabasca Basin, 18 km south of the past-producing Cluff Lake uranium mine. It is a joint venture between UEX (49.1%) and Orano (50.9%). There are four deposits that if combined, form one of the largest undeveloped uranium resources in the region. All four of the deposits remain open for expansion.

Shea Creek hosts an indicated resource of 2.1 million tonnes grading 1.48% uranium oxide for 67.7 million contained lb. uranium oxide, and an inferred resource of 1.3 million tonnes at 1.005% for 28.2 million lb. contained uranium oxide.

UEX Corp. has a market capitalization of $213.3 million. TNM

emissions in the future. BMO, in a report published in January, assessed six lithium-producing companies in its coverage and said emission levels from lithium producers would rise in the coming years as companies keep adding to their production capacity.

The report says that lithium through spodumene conversion produces higher emissions than brine-based operations and that about 60% of lithium capacity additions this decade would stem from spodumene conversion, such as the PAK project.

Ewing though expects the PAK project’s emissions record to be much better than other producers,

due to its “unique position” of being situated near to battery manufacturers in the Electric Avenue, the deposit’s low stripping ratio and its access to Ontario’s “relatively carbon-free” electric grid.

“If you have a deposit 20 to 30 metres underground you have got to get to the deposit, strip away the waste rock in order to build an open pit. We don’t have that issue where we are,” said Ewing. “We are essentially sitting on a pegmatite at surface, which is a real advantage as it requires less carbon to mine the ore body.”

The sustainability official further added that including Bart Meekis, a member of the Oji-Cree First nation of northwestern Ontario, to the firm’s board of directors last year helped boost relationships with the region’s communities.

“We have really benefitted from his perspectives and input since he has been on the board …this gives a sense of how seriously we think about achieving engagement,” Ewing said.

In February of 2021, Frontier released a preliminary economic assessment for PAK, forecasting a 26-year mine life with the potential to establish a hydrometallurgical chemical plant at an unidentified port in the Great Lakes.

At an 8% discount rate, the project would generate a post-tax net present value of US$974 million and an internal rate of return (IRR) of 21% using a base price of US$13,500 per tonne of lithium hydroxide. The study envisions an initial capital cost of US$685 million with a strip ratio of 3.6 to 1 and an average annual production of 23,174 tonnes of lithium hydroxide.

The company aims to complete its prefeasibility study this year.

At presstime in Toronto, Frontier Lithium was trading at $2.79 per share within a 52-week trading range of $3.05 and 69¢. The company has 207.9 million common shares outstanding for a market cap of $528.3 million. TNM

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GLOBAL MINING NEWS

THE NORTHERN MINER / MARCH 21—APRIL 3, 2022

15

Nighthawk Gold posts hefty increase to Indin Lake resource NWT

N

BY JACKSON CHEN

ighthawk Gold (TSX: NHK; US-OTC: MIMZF) has reported a substantial increase in mineral resources at its Indin Lake property located 200 km north of Yellowknife, N.W.T., further demonstrating the potential for a future large-scale, higher-grade, open pit project in the district.

Indicated open pit resources are 121% higher than Nighthawk’s previous estimate, now standing at 46.4 million tonnes grading 1.38 grams gold per tonne for 2.1 million contained ounces. The inferred resource has also increased thirteen-fold to 7.83 million tonnes grading 2.39 grams gold per tonne for 601,000 ounces.

Combined open pit and under-

| Open pit indicated resource rises by 121%, inferred by 13 times

ground resources at Indin Lake are 58.2 million tonnes grading 1.44 grams gold per tonne for 2.7 million oz. gold in the indicated category, and 19.7 million tonnes grading 2.1 grams gold for 1.3 million oz. in the inferred category.

While the overall resource grew, the open pit indicated resource grade declined by about 15%.

The resource incorporated 39,065 metres of drilling from the 2021 and 2020 exploration programs, which were excluded from the last update in 2021. Resource expansion drilling in 2021 was principally on-strike of the deposits, to increase drill density in areas where drill data was limited and to test the lateral extent of smaller deposits.

The 2022 estimate comprises nine

deposits, five of which are located within the Colomac Centre (Colomac Main, Goldcrest, Grizzly Bear, 24 and 27). The remaining four satellite deposits are located between 11 and 28 km from the Colomac Centre (Kim, Cass, Damoti, and Treasure Island) and demonstrate typically higher-grade open pit mineralization compared to the deposits within the Colomac Centre.

The Damoti deposit was re-evaluated as a potential open pit deposit when updating the resource (it was previously considered a potential underground deposit) due to the proximity of the known mineralization to the surface and land access.

In a release, Keyvan Salehi, Nighthawk’s president and CEO, said that the resource update exceeded the

company’s expectations. “The shift in our strategy early last year towards higher-grade, pit-constrained mineralization, combined with a much more accelerated and aggressive approach towards exploration, have resulted in a significant expansion in open pit resource estimates at our property,” he said.

“After evaluating all the data and working towards a future conceptual mine plan, we believe that the scalability of the project to a potentially robust, large open pit operation, far outweighs the marginal decrease in overall open pit grades compared to the 2021 estimate.”

Salehi is particularly excited about the contributions of higher-grade, near-surface mineralization from the Kim & Cass, Damoti, and Treasure

A helicopter at the Colomac project.

NIGHTHAWK GOLD

Island deposits. “These four deposits combined represent approximately 0.5 million ounces grading 2.62 grams per tonne gold of inferred estimated mineral resources in the 2022 estimate,” he said. “These highergrade deposits remain open along strike and at depth providing an opportunity to further enhance the global mineral resource estimated grades with additional drilling.”

Nighthawk’s exploration in 2022 will focus on expanding the highergrade mineralization. The company plans to begin drilling again in May, and is currently mobilizing supplies and preparing the site for drilling. TNM

Shares of Alba Minerals and GreenRoc Mining rise on initial Amitsoq graphite resource GREENLAND

T

| Phase 2 drilling program to commence this year

BY HENRY LAZENBY

he London-listed equities of Alba Minerals (LSE: ALBA) and GreenRoc Mining (AIM: GROC) rose on Mar. 8 following a maiden graphite resource for the Greenland-based Amitsoq project.

GreenRoc has compiled a JORCcompliant indicated and inferred resource of 8.3 million tonnes at an average grade of 19.75% graphitic carbon, giving a total graphite content of 1.6 million tonnes.

This includes a high-grade contribution from the Lower Graphite Layer of 3.7 million tonnes at 21.19% for 775,000 tonnes of contained graphite.

The majority of the total resource is in the inferred category (6.24 million tonnes grading 19.45% graphitic carbon for 1.2 million tonnes).

GreenRoc said the maiden resource confirmed Amitsoq’s position as one of the highest-grade

Amitsoq Island in southern Greenland, with a drill rig visible centre left and a GreenRoc-chartered ship centre right. GREENROC MINING

graphite deposits globally, supporting the company’s objective of fasttracking the project into the development phase.

The deposit is said to be open

along strike (predominantly to the north) and down-dip to the west, and this will be tested in the Phase 2 drilling program this year.

Planning and procurement for the

Phase 2 drilling campaign advanced with the appointment of contractors due to be finalized this month.

Metallurgical testing confirms that the Amitsoq graphite can be upgraded to a more than 99.95% pure graphite product, which is the specification requirement for EV lithium-ion batteries – an ultra-high growth sector of the graphite market.

“This maiden JORC resource launches GreenRoc into the global graphite resource space with one of the highest-grade graphite projects in the world,” commented CEO Kirk Adams in a press release.

“We are confident that the resource on Amitsoq Island will increase in both tonnes and classification following this year’s program to the extent that we hope to have the resource basis to undertake a detailed feasibility study on the deposit. We are also mindful of the additional considerable upside potential from the, yet undrilled, Kalaaq deposit to

the south of Amitsoq,” said Adams.

GreenRoc had its IPO in September in London after being spun out from Alba, which retains a 54% interest.

There is significant interest in Greenland, given the success of Bluejay Mining (LON: JAY) and the fact Jeff Bezos and Bill Gates are backing minerals exploration in Greenland.

MINING.COM reported early in August that KoBold Metals, a startup supported by Gates and Bezos, has partnered with Britain’s Bluejay Mining to explore for critical materials used in electric vehicles in Greenland.

Despite being down almost 41% over the past 12-month timeframe, GreenRoc shares were trading up at 7.45p at presstime, for a market capitalization of £7.5 million ($12.5 million). Alba was trading at 0.21p, for a market cap of £13.13 million ($21.9 million). TNM

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WWW.NORTHERNMINER.COM

MARCH 21—APRIL 3, 2022 / THE NORTHERN MINER

Ukraine stays resilient, says Black Iron CEO IRON ORE

| Junior’s main shareholder increases stake

Orford Mining’s Chukotat camp at the West Raglan project in Nunavik, Quebec. ORFORD MINING

Wyloo Metals earmarks $4.9M to explore West Raglan NICKEL

| Aussie miner’s takeover of Noront set to close in Q1

BY NAIMUL KARIM

W

yloo Metals has approved a $4.9-million drill program to explore the West Raglan project in northern Quebec’s Nunavik region as part of its earnin agreement with Orford Mining (TSXV: ORM).

Wyloo, which is controlled by Australian billionaire Andrew Forest, aims to drill about 2,500 to 3,000 metres at West Raglan this year and will focus on the Frontier, Beverly and Boomerang zones. Last year Orford identified regions in these zones through ground geophysical surveys that it believes could contain “high grade nickel sulfide sources.”

“The current very buoyant nickel, copper and palladium prices coupled with a $4.9-million commitment by Wyloo… should make for a very exciting summer,” David Christie, Orford’s CEO said in a press release. “The West Raglan project is one of the few underexplored high grade nickel sulphide projects in the world.”

Wyloo Metals, one of Australia’s largest private companies, has made a big push into nickel. In December it outbid BHP (NYSE: BHP; LSE: BHP; ASX: BHP) to acquire Canadian junior Noront Resources (TSXV: NOT), which owns nickelcopper-PGM and chromite deposits in northern Ontario’s Ring of Fire region. The acquisition is expected

to close this month, following a Mar. 15 shareholder vote.

Under Wyloo’s option to earn up to an 80% stake in the West Raglan project, it must spend $25 million on exploration over seven years.

Since the agreement was signed early last year, Wyloo has spent about $1.7 million.

The 707-sq.-km project is situated next to Glencore’s (LSE: GLEN) Raglan mine, about 95 km south of the northern village of Salluit.

Historical exploration at the West Raglan property has identified “six significant discoveries,” Orford says.

“The Frontier Zone contains five high grade nickel-copper-platinum group metal (PGM) mineralized lens clusters over a 2,500-metre strike with grades in the range of 2-3% nickel, 1% copper and more than two grams per tonne PGM,” the company stated.

The goal of the 2021 program, which used “very sensitive” Squid sensors, was to identify targets at Frontier and other parts of the West Raglan property and identified 72 potential nickel sulphide targets.

Ten to twelve of the highest priority targets will be tested during the exploration program, Orford said.

At presstime in Toronto, Orford Mining was trading at 18¢ per share within a 52-week trading range of 13¢ and 27¢. The company has 149 million common shares outstanding for a market cap of $26 million. TNM

Black Iron’s Shymanivske iron-ore project in the Ukraine. BLACK IRON

C

BY NAIMUL KARIM

anadian miner Black Iron’s (TSX: BKI; US-OTC: BKIRF) largest shareholder has increased its ownership in the company to 15%, at a time when the iron ore developer has been forced to suspend work at its Shymanivske project in Ukraine, due to the ongoing Russian attack.

RAB Capital purchased 2.5 million shares at an average price of 12.45¢ per share, Black Iron said in a press release.

“We believe that Ukraine will remain independent as the clouds of war clear,” said Philip Richards, RAB Capital’s majority shareholder.

“There is a new impetus to Ukraine joining the European Union on a fast track, which is a direct result of massive public support for Ukraine in this war… Our project will benefit greatly in my view from E.U.’s financing initiatives.”

RAB previously held 14.1% of Black Iron.

In an interview with The Northern Miner in early March, Black Iron’s CEO Matt Simpson, described the move as a “very big endorsement of support” from the company’s largest shareholder.

Since then, firms such as Kinross Gold (TSX: K; NYSE: KGC) and Rio Tinto (NYSE: RIO; LSE: RIO; ASX: RIO) have suspended operations in Russia due to the conflict.

Simpson said that the invasion has

CHILE from 5

Kinross Gold’s Kupol mine in Russia. KINROSS GOLD KINROSS from 1

Chukotka, about 7,000 km from Ukraine. The mine produced 481,108 gold-equivalent oz. last year.

In January 2020 Kinross acquired the Chulbatkan licence, also in Russia’s Far East. Drilling there has focused on the Udinsk resource pit, which is the first project up for development on the licence, with first production previously forecast to start in 2025.

In 2013, the company expanded the Kupol mill from 3,500 to 4,500 tonnes per day to process additional ore from the Dvoinoye mine, about 100 km to the north, where mining activities ceased in 2020. Stockpiles

from Dvoinoye are expected to be processed until about 2024.

In a press release on Feb. 23, Kinross said that it expected approximately 13% of its global production to come from Russia in 2022.

On Mar. 7, Kinross announced it had secured a $1-billion, three-year term loan to repay amounts drawn under its US$1.5-billion revolving credit facility in connection with its $1.8-billion Great Bear acquisition.

At presstime in Toronto, Kinross Gold’s shares were trading at $6.88 within a 52-week trading range of $6.32 to $10.05. The company has 1.3 billion common shares outstanding for a market cap of $8.9 billion. TNM

Analysts consider the motion a direct attack on private interests since the Chilean state already owns the underlying mineral rights. The move provides the government with one year to nationalize companies.

Resource companies would likely not receive indemnification for losing their mining rights. According to the proposal, the comptroller would determine this based on the book value of the companies, paid over a maximum of 30 years.

According to a Bloomberg report, the text also states that operations and projects that began before 1993 would have to submit to environmental evaluation within three years.

Concessions in excluded areas, such as those near glaciers and on Indigenous lands, would be revoked.

The president of the National Mining Society (SONAMI), Diego

had a major impact on the company and that it had stopped all work in Ukraine.

“Our project is located close to a city called Kryviy Rih. At this point of time there’s no Russian forces on the ground… the attacks are predominantly focused in the north,” said Simpson. “Hard to say how this plays out over the next few days… I think Ukraine civilians and military are surprising a lot of people with their resilience.”

This isn’t the first time that Black Iron is witnessing such a scenario.

It had to put its “shovel-ready” project on ice back in 2014 when Russia annexed Ukraine’s Crimean Peninsula on the Black Sea and brought the country’s two easternmost provinces — in the Donbas region, 400 km east of Black Iron’s project — into the neighbouring Russian Federation.

The CEO, however, doesn’t expect a prolonged war this time, and hopes it gets resolved in Ukraine’s favour in the coming weeks. But if it doesn’t, he expects a different group of shareholders to fund the company’s future.

“If Russia is successful in taking over Ukraine, it is likely that there will be sanctions preventing international investors from investing in Russia, which would mean that we would have to look at alternate investors to fund the construction of our project,” said Simpson, adding that the majority of the funding for the project has come from European and U.S.-based investors.

The Shymanivske project is 330 km southeast of Kyiv and lies in the heart of central Ukraine’s KrivBass iron ore mining district. The deposit is in the southern part of KrivBass and is less than 2 km from two open pit iron mines owned by ArcelorMittal and Metinvest/Evraz Steel.

The project has a resource of 355 million measured tonnes grading 32% total iron and 19.5% magnetic iron, and 290 million indicated tonnes grading 31.1% total iron and 17.9% magnetic iron, using a 10% magnetic iron cut-off grade. Shymanivske also has an inferred resource of 188 million tonnes grading 30.1% total iron and 18.4% magnetic iron.

Simpson said that the company will be completing the project’s feasibility study, which is in a “very well advanced” stage.

The Toronto-based CEO’s main priority for now though is to support his company’s team members in Ukraine, who have been provided with additional money for food and other essentials.

“All of our team members right now are safe and they are all home to make sure they can protect their families,” he said. “Most people are taking up the fight.”

At presstime in Toronto, Black Iron’s shares were trading at 12¢ per share within a 52-week trading range of 10¢ to 76¢. The company has 302.1 common shares outstanding for a market capitalization of $36 million. TNM

Hernández, has described the draft policy as “barbaric” and “with clear and obvious legal errors.” The centre-left mining veteran has said the measure targets both companies and resources, which would have a significant economic and legal impact in Chile.

Chile, the world’s largest copper producer and host to the two biggest lithium miners, is rewriting its constitution to replace a market-centric one that dates to the military dictatorship of General Augusto Pinochet.

SONAMI data shows Chile produced 5.6 million tonnes of copper in 2021, about 25% of the global capacity, and has a pipeline of almost US$70 billion in possible mining projects this decade, much of which would never materialize if the country nationalized its resources.

Politicians in the world’s top copper-producing nation are also fine-tuning a new mining royalty

bill, which will raise tariffs on firms based on gross sales and profitability.

Analysts at FTI Consulting say in a report they believe that while the likelihood of outright nationalization as proposed is small, a radical new royalty regime stands a much better chance. It could “push the Chilean tax system into pseudo-expropriation territory, especially with prices likely to stay above US$4 per pound, which is where the 75% rate kicks in.”

“We estimate that, if the new taxes are approved, Chilean copper mining companies could see their tax rates increase to as much as 80% and profit margins drop by more than 50% at current copper prices,” FTI said.

According to FTI, Chile could become the nation with the highest tax burden on copper mining, forcing companies to revisit the viability of their current and future investments. TNM

e h

GLOBAL MINING NEWS

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M A R K E T N EWS TORONTO STOCK EXCHANGE / MARCH 7-11, 2022 The S&P/TSX Composite Index rose 157.43 points or 0.73% to 21,462. The S&P/TSX Global Mining Index decreased 2.96 points or 2.4% to 122.83 and the S&P/TSX Global Base Metals Index fell 3.79 points or 1.79% to 211.22. The S&P/TSX Global Gold Index fell 0.72 points or 0.2% to 355.42 and spot gold fell US$2.25 or 0.11% to US$1,978.70 per ounce.

Shares of Augusta Gold rose by 19.8% to $1.45 on the release of an updated mineral resource estimate for its Bullfrog gold project in Nevada. The property’s measured and indicated resources increased to 71 million tonnes grading 0.53 gram gold per tonne and 1.26 grams silver per tonne for contained metal of 1.2 million oz. gold and 2.9 million oz. silver.

Inferred resources add 16.7 million tonnes grading 0.48 gram gold and 0.96 gram silver per tonne for 257,900 oz. gold and 515,720 oz. silver. Augusta said that the updated estimate confirms the presence of resources outside of the past producing open pits on the property.

“We are now focused on de-risking the project through environmental and engineering studies that will form the foundation for our permit applications,” Don Taylor, the company’s CEO said in a press release.

Shares of Gatos Silver increased by 20.4%

to $5.90. The company reported its unaudited year-end results for 2021 during the period.

Gatos produced 7.7 million oz. silver, 5,200 oz. gold, 39.8 million lb. lead and 49.6 million lb. zinc last year with average grades in the mill of 295 grams silver per tonne, 0.32 gram gold per tonne, 2.27% lead and 3.94% zinc. The company said that it had met its 2021 guidance for contained silver of 7.5 to 7.9 million ounces. It also announced its guidance for 2022.

It aims to produce 8.5 to 9 million oz. silver; 4,000 to 4,500 oz. gold, 49 to 54 million lb. zinc; and 36 to 40 million pounds of lead this year (all metals in concentrate). Furthermore, the company spent $73 million on capital expenditure, with a major portion spent on underground development to access lowerTSX MOST ACTIVE ISSUES VOLUME (000s) HIGH

Suncor Energy Barrick Gold Kinross Gold B2Gold Corp Denison Mines Yamana Gold Fission Uran Sherritt Intl Pretium Res Teck Res

SU 97475 ABX 36228 K 34699 BTO 33996 DML 28392 YRI 25773 FCU 21624 S 20107 PVG 16184 TECK.B 15815

43.12 33.50 7.49 5.92 2.32 7.39 1.08 0.85 20.13 54.03

WEEK LOW CLOSE CHANGE

39.63 29.86 6.81 5.45 1.89 6.54 0.88 0.71 18.86 48.52

40.49 31.05 7.18 5.76 2.09 7.01 0.96 0.80 19.15 53.35

+ + + + + + + + + +

0.43 0.25 0.20 0.23 0.25 0.40 0.08 0.09 0.16 0.60

level mining zones. The company’s operating expenses more than doubled to US$19.3 million compared to 2020 due to exploration costs, higher legal, consulting and insurance costs, higher stock-based compensation expense and one-time severance costs.

Shares of Ero Copper fell by $1.49 to close at $18.93. The company reported its operating and financial results for 2021. Ero produced 45,511 tonnes of copper (from 2.4 million

tonnes grading 2.08% copper) at a cash cost of US77¢ per pound, and 37,798 oz. gold at an all-in sustaining cost of US$732 per ounce.

The company recorded a net income last year of US$202.6 million. David Strang, Ero’s CEO said in a press release that 2021’s results suggest that the company was on track to meet its goal of producing approximately 100,000 tonnes of copper and 60,000 oz. of gold annually by 2025. TNM TSX GREATEST VALUE CHANGE

TSX GREATEST PERCENTAGE CHANGE VOLUME (000s) HIGH

Excellon Res Nickel Creek Great Panther PolyMet Mng Almaden Min Nthn Dynasty Golden Mnls Gatos Silver Silver Bear Rs Augusta Gold SouthGobi Res Century Global Goldgroup Mng Serabi Gold Steppe Gold Northcliff Res Verde Potash St Augustine Atalaya Mining Solaris Res

EXN NCP GPR POM AMM NDM AUMN GATO SBR G SGQ CNT GGA SBI STGO NCF NPK SAU AYM SLS

VOLUME (000s)

WEEK LOW CLOSE CHANGE

2570 2.20 1.08 7878 0.16 0.10 5046 0.48 0.32 324 6.15 3.46 1037 0.62 0.40 3944 0.65 0.45 465 0.81 0.64 665 6.27 5.01 890 0.06 0.05 928 1.52 1.18 529 0.33 0.21 67 0.42 0.29 147 0.04 0.03 31 1.04 0.00 468 1.79 1.34 7 0.04 0.00 2481 9.26 6.15 1452 0.11 0.00 14 7.35 6.52 824 14.84 12.94

1.71 0.14 0.44 4.52 0.49 0.56 0.76 5.90 0.06 1.45 0.21 0.32 0.03 0.95 1.53 0.04 7.88 0.09 6.61 13.43

+ + + + + + + + + + -

51.3 47.4 37.5 34.1 30.7 25.8 20.6 20.4 20.0 19.8 25.0 21.3 14.3 13.6 13.6 12.5 12.0 10.0 9.6 9.4

Nutrien Agnico Eagle Cameco Corp Newmont Corp Largo Res Lithium Amer Teck Res Energy Fuels Wheaton Prec SSR Mining Ero Copper Solaris Res Verde Potash Ivanhoe Mines Endeavour Mng Turquoise HIl Atalaya Mining Lundin Mng SilverCrest Capstone Mng

NTR AEM CCO NGT LGO LAC TECK.A EFR WPM SSRM ERO SLS NPK IVN EDV TRQ AYM LUN SIL CS

15349 15461 13163 1837 1124 5519 36 6218 9770 3362 2106 824 2481 14053 7678 1140 14 12217 2405 9997

WEEK CLOSE

129.22 78.22 34.56 98.00 17.59 34.32 56.48 12.20 61.27 28.34 18.93 13.43 7.88 10.73 33.09 25.68 6.61 12.37 11.62 7.11

CHANGE

+ + + + + + + + + + -

8.30 6.33 4.68 3.49 2.75 2.75 2.07 1.84 1.81 1.76 1.49 1.39 1.07 0.99 0.77 0.74 0.70 0.64 0.55 0.47

TSX VENTURE EXCHANGE / MARCH 7-11, 2022 The S&P/TSX Venture Exchange rose 6.14 points or 0.73% to 846.35. Spot gold fell US$2.25 per oz. or 0.11% to US$1,978.70 per ounce.

Shares of Vizsla Silver rose 34¢ to $2.79. The company released assay results from seven new drill holes targeting the Copala and Christiano veins, located east of the Tajitos resource area, at its 100%-owned Panuco project in Mexico.

Highlights included 7.81 metres grading 1,559 grams silver per tonne and 7.29 grams gold per tonne starting from 274 metres in drill hole CS-21-116; and 2.1 metres grading 1,237 grams silver and 10.53 grams gold starting from 186.35 metres in drillhole CS-22-123.

“Copala continues to grow rapidly with very high grades and impressive widths over a large area,” Michael Konnert, the company’s CEO said in a press release. Vizsla describes the geology and mineralization style of the 54.33-sq.-km property near the city of Mazatlan in southern Sinaloa as near identical to First Majestic Silver‘s San Dimas mine, 80 km away in the state of Durango.

Shares of Prime Mining fell by 43¢ to $3.81.

The company announced drill results from drill hole 22GE-33 located on the west side of the Guadalupe East zone at its wholly owned

Los Reyes gold-silver project in Sinaloa State, Mexico. Highlights from the results included 1.2 metres grading 11.6 grams gold per tonne and 219 grams silver per tonne starting from 441 metres; and 29.2 metres grading 3.33 grams gold and 115.18 grams silver starting from 447 metres. Prime Mining’s CEO Daniel Kunz said that while the company doesn’t normally release results of a single drill hole, this specific hole provided important information. “Wide mineralized intercepts alongside historic stopes are confirming that underground mining at Guadalupe East did not extract much of the major mineralization,” he said in a press release.

Eight drill rigs are operating at Los Reyes in the phase 2 program with four drill rigs now TSX-V MOST ACTIVE ISSUES VOLUME (000s) HIGH

Azincourt Ener SOPerior Fert Alphamin Res Leeta Gold GoviEx Uranium Nickel Rock AbraSilver Res Strikepoint Gd Purepoint Uran Orca Gold

AAZ 18342 SOP.H 11033 AFM 10583 HIVE 8796 GXU 8370 NICL 7865 ABRA 7679 SKP 6638 PTU 6469 ORG 6032

0.09 0.08 1.21 2.50 0.47 0.23 0.45 0.11 0.13 0.94

WEEK LOW CLOSE CHANGE

0.08 0.05 1.06 2.10 0.39 0.12 0.40 0.08 0.11 0.85

0.08 + 0.06 + 1.19 + 2.20 0.43 + 0.22 + 0.41 + 0.08 0.12 + 0.89unch

0.01 0.02 0.08 0.07 0.05 0.10 0.01 0.02 0.01 0.00

at Guadalupe East.

Shares of Thesis Gold fell by 30¢ to $2.39.

The company began drilling at its 100%-owned Ranch Gold project, located in the northeastern region of the Stikine Terrane in British Columbia. It plans to conduct up to 10,000 metres of diamond drilling and focus on the 1.5 km-long Thesis structural corridor that hosts the Thesis II, Thesis III, and Bingo occurrences. Some of its objectives include

assessing the exploration potential near the Bingo occurrence, which the company says has not seen contemporary drilling, but includes several promising surface geochemistry and geophysical anomalies near historical gold mineralization. It also aims to improve logging protocols to better understand mineralization of the corridor, specifically the lithological controls that it says were “poorly recognized in historical drill targeting work.” TNM

TSX-V GREATEST PERCENTAGE CHANGE VOLUME (000s) HIGH

Gentor Res Stroud Res Nickel Rock Great Quest Fe Black Mammoth ZEB Nickel Buffalo Coal Chilean Metals KGL Resources Pangolin Dia Morien Res Gold Reserve Dynasty Gold Stans Energy Altan Nevada Kings Bay Res Karoo Expl New Destiny Mg Tower Res Axmin Inc

GNT SDR NICL GQ BMM ZBNI BUF PNPN KGL PAN MOX GRZ DYG HRE.H ANE KBG.H AHE.H NED TWR AXM

5 119 7865 5902 81 591 609 5066 7 3381 941 470 58 298 409 237 5 22 2061 275

0.14 0.49 0.23 0.09 0.16 0.42 0.03 0.27 0.16 0.02 0.56 1.46 0.23 0.02 0.02 0.09 0.45 0.05 0.15 0.04

TSX-V GREATEST VALUE CHANGE

WEEK LOW CLOSE CHANGE

0.00 0.00 0.12 0.04 0.09 0.22 0.00 0.16 0.00 0.00 0.28 0.85 0.00 0.00 0.00 0.00 0.00 0.00 0.10 0.03

0.14 0.49 0.22 0.07 0.16 0.36 0.03 0.26 0.16 0.02 0.29 0.85 0.17 0.01 0.01 0.06 0.26 0.04 0.12 0.03

+ + + + + + + + + + -

92.9 79.6 79.2 75.0 72.2 69.0 66.7 52.9 52.4 50.0 39.6 36.1 34.6 33.3 33.3 33.3 30.1 30.0 25.8 25.0

VOLUME (000s)

Universal Vent IsoEnergy Ltd Titanium Corp Cons Uranium Vizsla Silver Uranium Roylty Emerita Res Tier One Silv Cornerstone Ca Highwood Asset Tanqueray Expl Artemis Gold Nouveau Monde Gold Reserve Prime Mining Arizona Metals North Peak Res Colonial Coal Thesis Gold EMX Royalty

MCLD ISO TIC CUR VZLA URC EMO TSLV CGP HAM IPA ARTG NOU GRZ PRYM AMC NPR CAD TAU EMX

WEEK CLOSE

52 5.26 1074 5.32 1710 1.78 540 2.71 1808 2.79 1816 5.81 5107 2.63 1324 0.89 148 4.05 0 11.25 157 4.67 1196 6.88 219 8.49 470 0.85 1347 3.81 716 6.33 1041 4.86 441 2.02 331 2.39 109 2.87

CHANGE

+ + + + + + + + + + -

0.97 0.76 0.53 0.36 0.34 0.33 0.31 0.25 0.25 0.25 1.10 0.81 0.55 0.48 0.43 0.37 0.33 0.30 0.30 0.24

U.S. MARKETS / MARCH 7-11, 2022 The Dow Jones Industrial Average fell 670.61 points or 1.99% to finish at 32,944.19 and the S&P 500 dropped 124.56 points or 2.88% to 4,204.31. Spot gold fell US$2.25 per oz. or 0.11% to US$1,978.70 per ounce.

Intrepid Potash climbed US$13.63 to US$84.19 per share. The company reported net income for the 2021 calendar year of US$249.8 million or US$18.66 per diluted share, adjusted net income of US$21.8 million or US$1.63 per diluted share, and adjusted earnings before interest, taxes, depreciation and amortization (EBIDTA) of US$67.6 million. Cash flow from operations totalled US$79.1 million. As of Mar. 7, Intrepid had cash on hand of about US$60 million. The company also noted that its board of directors approved a US$35-million share repurchase program in February. Executive chairman and CEO Bob Jornayvaz credited the positive results on the “strong commodity environment and rising fertilizer prices,” and noted that “pricing and demand strength have continued into the first quarter of 2022 and we expect another quarter of increasing realized prices.”

Shares of Wheaton Precious Metals rose US$1.37 to US$48.10 per share. The company reported record adjusted net earnings for 2021

of US$592 million and record operating cash flow of US$845 million. The company reported cash on hand as of Dec. 31 of about US$226 million. Attributable production for 2021 came in at 752,958 gold-equivalent ounces. For 2022 Wheaton’s estimated attributable production is forecast to be about 700,000 to 760,000 GEOs. Endeavour Silver gained 17.8% to US$5.57.

The company reported 2021 production of 4.87 million oz. of silver and 42,262 oz. of gold for 8.3 million silver-equivalent ounces.

Endeavour posted net earnings for the year of US$14 million or US8¢ per share and EBITDA of US$54.9 million, an increase of 87% over 2020. The company ended the year with a cash position of US$103.3 million and working capital of US$121.2 million.

U.S. MOST ACTIVE ISSUES VOLUME (000s)

HIGH

WEEK LOW CLOSE CHANGE

Vale* VALE 250594 20.96 18.42 Chevron Corp* CVX 197351 174.76 155.72 Barrick Gold* GOLD 190167 26.07 23.40 Cleveland-Clif* CLF 165250 27.79 23.37 Yamana Gold* AUY 149995 5.76 5.12 United States S* X 142447 34.17 28.50 Kinross Gold* KGC 138184 5.81 5.33 Freeport McMoR* FCX 105046 49.38 44.90 Peabody Enrgy* BTU 95513 26.35 19.93 Mosaic* MOS 89745 64.71 52.90

19.07 170.90 24.35 25.86 5.52 33.34 5.63 46.93 23.02 61.92

- 1.08 + 12.25 + 0.15 - 0.09 + 0.31 + 1.92 + 0.15 - 3.18 - 3.33 + 2.09

Shares of McEwen Mining advanced 10.8% to US89¢. The company provided production and cost guidance for 2022, estimating it will produce a total of 153,000 to 172,000 goldequivalent ounces. All-in sustaining costs per gold-equivalent oz. sold from its 100%-owned mines, Gold Bar (Nevada) and Black Fox (Canada), are expected to be in the range of US$1,570 to US$1,690 per GEO sold, and at its 49%-owned San Jose mine (Argentina)

US$1,330 to US$1,370 per GEO sold.

Barrick Gold increased US15¢ per share to US$24.35. It announced that following a boughtdeal private placement completed by Reunion Gold, Barrick’s interest in Reunion fell below 10% to about 9.98% of the company’s issued and outstanding common shares. Barrick did not participate in the private placement and continues to own 81.2 million common shares in the company. TNM U.S. GREATEST VALUE CHANGE

U.S. GREATEST PERCENTAGE CHANGE VOLUME (000s) HIGH

Gatos Silver* Intrepid Pots* Endeavr Silver* Cameco Corp* Alamos Gold* McEwen Mng* Nexgen Energy* First Majestic* Agnico Eagle* Lithium Amer* Alcoa* Peabody Enrgy* Sibanye-Stillw* Rio Tinto* Ero Copper* CONSOL Energy* Nouveau Monde* Freeport McMoR* Vale* DRDGOLD*

GATO IPI EXK CCJ AGI MUX NXE AG AEM LAC AA BTU SBSW RIO ERO CEIX NMG FCX VALE DRD

7970 4702 29447 71582 33421 19831 17675 55806 37176 21159 52986 95513 49958 32669 510 3945 349 105046 250594 1849

4.90 87.64 5.69 28.18 8.82 0.98 5.93 14.02 63.39 29.30 92.32 26.35 20.64 81.46 16.33 38.44 7.09 49.38 20.96 10.96

VOLUME (000s)

WEEK LOW CLOSE CHANGE

3.92 60.41 4.66 23.83 7.77 0.83 5.09 12.02 56.01 23.72 77.00 19.93 17.40 72.18 14.79 32.52 6.31 44.90 18.42 9.56

4.63 84.19 5.57 27.11 8.72 0.89 5.58 13.39 61.40 26.94 79.04 23.02 17.70 72.72 14.82 33.29 6.64 46.93 19.07 9.84

+ + + + + + + + + + -

20.6 19.3 17.8 15.5 11.2 10.8 9.8 9.6 8.7 8.5 12.8 12.6 12.0 11.2 7.7 7.3 6.3 6.3 5.4 4.1

Intrepid Pots* IPI Chevron Corp* CVX Nutrien* NTR Agnico Eagle* AEM Cameco Corp* CCJ Newmont Corp* NEM Lithium Amer* LAC Mosaic* MOS United States S* X Wheaton Prec* WPM Alcoa* AA Rio Tinto* RIO MartinMarietta* MLM Peabody Enrgy* BTU Freeport McMoR* FCX CONSOL Energy* CEIX Southern Copp* SCCO Sibanye-Stillw* SBSW Black Hills* BKH Ero Copper* ERO

4702 197351 40456 37176 71582 58859 21159 89745 142447 20873 52986 32669 2016 95513 105046 3945 7783 49958 1496 510

WEEK CLOSE

CHANGE

84.19 170.90 101.40 61.40 27.11 76.89 26.94 61.92 33.34 48.10 79.04 72.72 370.88 23.02 46.93 33.29 74.07 17.70 71.04 14.82

+ 13.63 + 12.25 + 6.41 + 4.91 + 3.63 + 2.61 + 2.12 + 2.09 + 1.92 + 1.37 - 11.62 - 9.16 - 4.05 - 3.33 - 3.18 - 2.63 - 2.53 - 2.41 - 1.74 - 1.24

GLOBAL MINING NEWS

THE NORTHERN MINER / MARCH 21—APRIL 3, 2022

19

M E TA L S , M I N I N G A N D M O N EY M A R K E T S PRODUCER AND DEALER PRICES

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening on March 10 2022 (change from March 3 2022 in brackets): Aluminium Alloy 2100 (0) Aluminium 762775 (-38325) Copper 71900 (+525) Lead 39250 (-4925) Nickel 74238 (-3546) Tin 2255 (-15) Zinc 140,950 (-1775)

Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$93.40 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$16.75 Cobalt: US$37.26/lb.

Copper: US$4.60/lb.

Copper: CME Group Futures April 2022: US$4.52/lb.; May 2022: US$4.53/lb.

Iridium: NY Dealer Mid-mkt US$4,900/tr oz.

Iron Ore 62% Fe CFR China-S: US$154.50 Lead: US$1.09/lb.

Rhodium: Mid-mkt US$19,000/tr. oz.

Ruthenium: Mid-mkt US$620 per oz.

Silver: Handy & Harman Base: US$25.99 per oz.; Handy & Harman Fabricated: US$32.49 per oz.

Tin: US$19.41/lb.

Uranium: U308, Trade Tech spot price: US$50.25 per lb. U308 Zinc: US$1.80 per lb.

Prices current March 14, 2022

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of February 28, 2022 (with changes from February 15, 2022) Largest short positions Ivanhoe Mines IVN 16845511 776218 2/15/2022 Argonaut Gold AR 16714205 654382 2/15/2022 Kinross Gold K 15960272 1926500 2/15/2022 Barrick Gold ABX 13771574 527160 2/15/2022 Suncor Energy SU 12534208 -6730045 2/15/2022 Wheaton Prec WPM 10134069 1378242 2/15/2022 Lundin Mng LUN 10045704 679243 2/15/2022 Fortuna Silvr FVI 9697648 -271894 2/15/2022 Denison Mines DML 9217200 915463 2/15/2022 IAMGOLD IMG 8879295 -522521 2/15/2022 Nexgen Energy NXE 8876652 979073 2/15/2022 First Quantum FM 7741932 -790225 2/15/2022 New Gold NGD 7570382 -1072214 2/15/2022 Yamana Gold YRI 7353708 1484887 2/15/2022 Teck Res TECK.B 6956577 -1147509 2/15/2022 Largest increase in short position Ascot Res AOT 4623712 2547518 2/15/2022 McEwen Mng MUX 4432697 2408658 2/15/2022 Kinross Gold K 15960272 1926500 2/15/2022 GoGold Res GGD 2864527 1680317 2/15/2022 Yamana Gold YRI 7353708 1484887 2/15/2022 Largest decrease in short position Wallbridge Mng WM 5867591 -6743187 2/15/2022 Suncor Energy SU 12534208 -6730045 2/15/2022 B2Gold Corp BTO 5787936 -2733209 2/15/2022 Agnico Eagle AEM 3227605 -1670006 2/15/2022 Teck Res TECK.B 6956577 -1147509 2/15/2022

Short positions outstanding as of February 28, 2022 (with changes from February 15, 2022) Largest short positions Leeta Gold HIVE 4134943 745795 2/15/2022 Pure Gold Mg PGM 4074397 175795 2/15/2022 American Lith LI 3728124 -28031 2/15/2022 Noront Res NOT 3629959 503741 2/15/2022 QC Copper QCCU 2678887 29857 2/15/2022 Nrthn Shield NRN 2385322 2362623 2/15/2022 Emerita Res EMO 1891936 -39360 2/15/2022 GoviEx Uranium GXU 1723872 64131 2/15/2022 Giga Metals GIGA 1605008 -48201 2/15/2022 Aurcana Silver AUN 1526061 1428099 2/15/2022 King Global KING 1494615 1494571 2/15/2022 Lithium Chile LITH 1431250 46291 2/15/2022 Fission 3.0 FUU 1262987 -380166 2/15/2022 NGEx Minerals NGEX 1153916 725912 2/15/2022 Blue River Res BXR 1139263 700201 2/15/2022 Largest increase in short position Nrthn Shield NRN 2385322 2362623 2/15/2022 King Global KING 1494615 1494571 2/15/2022 Aurcana Silver AUN 1526061 1428099 2/15/2022 Oceanus Res SLVR 1035124 799072 2/15/2022 SOPerior Fert SOP.H 771072 749000 2/15/2022 Largest decrease in short position Portofino Res POR 238762 -972007 2/15/2022 Cypress Dev CYP 495988 -690643 2/15/2022 Royal Fox Gold FOXG 488 -657042 2/15/2022 Transatlantic TCO 416 -641762 2/15/2022 EnCore Energy EU 448913 -534293 2/15/2022

DAILY METAL PRICES Date Mar 7 Mar 8 Mar 9 Mar 10 BASE METALS (London Metal Exchange – Midday official cash/3-month prices, US$ per tonne) Al Alloy 2883/2890 2883/2890 2883/2890 2884/2890 Aluminum 3983.5/3966 3500/3514 3530/3533 3534/3530 Copper 10729/10719.5 10170/10250 10050/10065 10143/10170 Lead 2511/2514 2489/2533 2400/2442 2400/2406 Nickel* 42990/42100 –/– –/– –/– Tin 48650/48200 50000/49400 48100/47900 42700/42400 Zinc 4247/4205 4089/4098 3939/3960 3959/3973 *N/A. The LME suspended trading in nickel on Mar. 8.

PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.)

Gold AM 1999.25 2007 2017.15 Gold PM 1980.95 2039.05 1988.90 Silver 24.74 26.12 26.17 Platinum 1127 1151 1107 Palladium 3015 3000 2970

Mar 11 2884/2890 3470/3499.5 10140/10165 2359/2371 –/– 43975/43475 3833/3839

1997.65 1996.60 25.94 1088 2930

1991.45 1978.70 25.65 1057 2766

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

Mar 11 1.2763 0.7835

Mar 10 1.2755 0.7840

Mar 09 1.2801 0.7812

Mar 08 1.2891 0.7757

Exchange rates (Quote Media, March 11, 2022) C$ to AUS C$ to EURO C$ to YEN 1.0762 0.7187 92.1208 C$ to UK Pound C$ to China Yuan C$ to India Rupee 0.6017 4.9723 60.0065 US to AUS US to EURO US to YEN 1.3708 0.9164 117.3225 US to UK Pound US to China Yuan US to India Rupee 0.7675 6.3398 76.7592

Mar 07 1.2801 0.7812

TSX WARRANTS Alio Gold Inc. (ALO.WT) - 10 Warrants to purchase one common share of the Issuer at $7.00 until expiry Alio Gold Inc. J (ALO.WT.A) - One Warrant to purchase one common share of the Issuer at $8.00 until expiry Aris Gold Corporation (ARIS.WT) - One Warrant to purchase one Common Share of the Issuer at $2.75 until expiry. eCobalt Solutions Inc. J (ECS.WT) - One Warrant to purchase one common share of the Issuer at US$1.95 per share until expiry Excellon Resources Inc (EXN.WT.A) - One warrant to purchase one common share of the Issuer at $2.80 until expiry Excellon Resources Inc. (EXN.WT) - One Warrant to purchase one common share of the issuer at $1.40 per share until expiry Excelsior Mining Corp. (MIN.WT) - One Warrant to purchase one Common Share of the Issuer at $1.25 until expiry.

Gran Colombia Gold (GCM.WT.B) - One warrant to purchase one common share of the Issuer at $2.21 until expiry.

Karora Resources Inc. (KRR.WT) - One

Warrant to purchase one common share of the Issuer at $0.50 until expiry.

Liberty Gold Corp. Wt (LGD.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry may 16, 2019 Lithium Americas Corp (LAC.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry Lydian International Limited (LYD.WT) One Warrant to purchase one additional ordinary share of the Issuer at $0.36 per share until expiry Nevada Copper Corp. (NCU.WT) - One Warrant to purchase one common share of the Issuer at $0.20 until expiry Nevada Copper Corp. (NCU.WT.A) - One Warrant to purchase one common share of the Issuer at $0.22 until expiry Nomad Royalty Company Ltd. (NSR.WT) One Warrant to purchase one common share of the Issuer at $1.71 until expiry.

Novo Resources Corp. (NOVO.WT.A) One Warrant to purchase one common share of the Issuer at $3.00 until expiry.

ABE Resources Inc. (ABE.WT) - One warrant to purchase one common share at $0.15 per share.

Alpha Lithium Corporation (ALLI.WT) One warrant to purchase one common share at $1.10 per share.

American Cumo Mining Corp. (MLY.RT) 2 rights and $0.07 are required to purchase one share American Lithium Corp. (LI.WT) - One warrant to purchase one common share at $0.30 per share.

Antioquia Gold Inc. (AGD.RT) - One (1) Right and $0.042 are required to purchase one share.

Aurania Resources Ltd. (ARU.RT) - Fourteen (14) Rights exercisable for one common share at $2.70 per common share.

Aurania Resources Ltd. (ARU.WT) - One warrant to purchase one common share at $5.50 per share.

Aurania Resources Ltd. (ARU.WT.A) - One warrant to purchase one common share at $4.25 per share.

Aurania Resources Ltd. (ARU.WT.B) - One warrant to purchase one common share at $2.20 per share.

Avidian Gold Corp. (AVG.RT) - Three rights and $0.11 are required to purchase one Share.

Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.50 per share.

Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.30 per share.

Cabral Gold Inc. (CBR.WT) - One warrant to purchase one common share at $0.80 per share.

Caldas Gold Corp. (CGC.WT) - One warrant to purchase one common share at $2.75 per share.

Cascadero Copper Corporation (CCD.RT) One right and $0.015 are required to purchase one Share.

Cordoba Minerals Corp (CDB.WT) - One warrant to purchase one common share at $1.08 per share.

Cordoba Minerals Corp (CDB.WT) - One warrant to purchase one common share at $1.08 per share.

Cordoba Minerals Corp. (CDB.RT) - One (1) Right exercisable for One (1) Rights Share at $0.05 per Share.

Cordoba Minerals Corp. (CDB.RT) - One right to purchase one common share at $0.54 per share.

Denarius Silver Corp. (DSLV.WT) - One warrant to purchase one common share at $0.80 per share.

Elevation Gold Mining Corporation (ELVT.

WT) - One warrant to purchase one common share at $4.80 per share.

Empress Royalty Corp. (EMPR.WT) - One warrant to purchase one common share at $0.75 per share.

Equinox Gold Corp (EQX.WT) - One warrant to purchase one common share at $3.00 per share.

Eros Resources Corp. (ERC.WT) - One (1) Right exercisable for (1) Unit at $0.05 per Unit.

Falco Resources Ltd. (FPC.WT) - One warrant to purchase one common share at $1.70 per share.

Firefox Gold Corp. (FFOX.WT) - One warrant to purchase one common share at $0.60 per share.

Firefox Gold Corp. (FFOX.WT) - One warrant to purchase one common share at $3.00 per share.

Giga Metals Corporation (GIGA.WT) One warrant to purchase one common share at $0.60 per share.

Giyani Metals Corp. (EMM.WT) - One warrant to purchase one common share at $0.60 per share.

Goldstar Minerals (GDM.RT) - One Right to purchase one common share at $0.03 per share.

Goldstar Minerals Inc. (GDM.RT) - One (1) Right and $0.05 are required to purchase one common share.

Kaizen Discovery Inc. (KZD.RT) - One warrant to purchase one common share at $0.51 per share.

LaSalle Exploration Corp. (LSX.WT) - One warrant to purchase one common share at $0.15 per share.

Lion One Metals Limited (LIO.WT) - One warrant to purchase one common share at $2.75 per share.

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

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

Mako Mining Corp. (MKO.WT.A) - One warrant to purchase one common share at $0.60 per share.

Manganese X Energy Corp. (MN.WT) One warrant to purchase one common share at $0.15 per share.

Maple Gold Mines Ltd. (MGM.WT) - One warrant to purchase one common share at $0.40 per share Maple Gold Mines Ltd. (MGM.WT) - One warrant to purchase one common share at $0.40 per share Mexican Gold Corp. (MEX.WT) - One warrant to purchase one common share at

Platinum Group Metals Ltd. (PTM.WT.U) One Warrant to purchase one common share of the Issuer at US$0.17 until expiry Royal Nickel Corporation (RNX.WT) - One Warrant to purchase one common share of the Issuer at $0.50 until expiry.

Sandstorm Gold (SSL.WT.B) - One Warrant to purchase one common share of the Issuer at US $14.00 until expiry.

Sherritt International Corporation (S.WT) Each whole Warrant entitles the holder to acquire between 1.00 and 1.25 additional common shares (as bulletin 2018-0062 table ) determined based on the Applicable Reference Cobalt Price at an exercise price of $1.95 per Warrant at any time prior to the Expiry Date Treasury Metals Inc. Wt (TML.WT) - One Warrant to purchase one common share of the Issuer at $1.50 until expiry.

Trevali Mining Corporation (TV.WT) - One Warrant to purchase one common share of the Issuer at $0.23 until expiry.

TSX VENTURE WARRANTS $0.12 per share.

Millennial Lithium Corp. (ML.WT) - One warrant to purchase one common share at $4.25 per share.

Millennial Lithium Corp. (ML.WT) - One right to purchase one common share at $4.80 per share.

Mineworx Technologies Ltd. (MWX.RT) One right to purchase one common share at $0.015 per share.

Northern Vertex Mining Corp. (NEE.WT) One warrant to purchase one common share at $0.80 per share.

Novo Resources Corp. (NVO.WT) - One warrant to purchase one common share at $4.40 per share.

Orezone Gold Corporation (ORE.WT) One warrant to purchase one common share at $0.80 per share.

Orezone Gold Corporation (ORE.WT) One warrant to purchase one common share at $0.80 per share.

Osisko Development Corp. (ODV.WT) One warrant to purchase one common share at $10.00 per share.

Sandfire Resources America Inc. (SFR.RT) Forty one (41) Rights exercisable for One (1) Share at $0.15 per Share.

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

Star Royalties Ltd. (STRR.WT) - One warrant to purchase one common share at $1.00 per share.

Three Valley Copper Corp. (TVC.WT) - 20 warrants to purchase one Class A common share at $6.66 per share.

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

Ucore Rare Metals Inc. (UCU.RT) - One (1) right exercisable for one share at $4.00 per share.

Vision Lithium Inc. (VLI.WT) - One warrant to purchase one common share at $0.15 per share.

Vizsla Silver Corp. (VZLA.WT) - One warrant to purchase one common share at $3.25 per share.

Westhaven Gold Corp. (WHN.WT) - One warrant to purchase one common share at $1.00 per share.

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

NORTH AMERICAN STOCK EXCHANGE INDICES C$ to Mex Peso 16.4258 C$ to Swiss Franc 0.7330 US to Mex Peso 20.9217 US to Swiss Franc 0.9374

C$ to SA Rand 11.7975 C$ to S. Korea Won 969.6819 US to SA Rand 15.0460 US to S. Korea Won 1237.1100

52-week

IndexName S&P/TSX Composite S&P/TSXV Composite S&P/TSX 60 S&P/TSX Global Gold DJ Precious Metals

Mar 11 21461.83 846.35 1299.60 355.42 306.75

Mar 10 21581.70 855.44 1305.81 360.00 306.75

Mar 09 21493.23 851.32 1301.34 355.47 306.75

Mar 08 21232.03 848.85 1285.27 361.90 306.75

Mar 07 21304.40 840.21 1293.02 356.14 306.75

High 21796.16 1025.77 1321.99 374.02 324.94

Low 18460.60 802.71 1106.01 257.81 229.83

NEW 52-WEEK HIGHS AND LOWS MARCH 7-11, 2022 CANADIAN GOLD MUTUAL FUNDS FundName BMO Prec Mtls Fd A BMO ZGD BMO ZJG CI Pre Met Fd A CIBC Prec Metal Fd A Dyn Prec Metls Fd A Harvest HGGG Horizons HEP IG MacGbPreMetCl A iShares XGD NBI PrecMetFd Invt NP Silver Equ A NPT Go&PrMinFd A Prec Met Fd A RBC GblPreMetFd A TD Prec Mtl Fd Inv

Mar 11 ($) 28.62 84.70 78.29 61.36 16.90 14.79 29.67 31.83 18.27 22.29 21.11 9.89 62.33 73.64 63.98 56.41

Mar 04 ($) 27.94 81.85 74.87 60.40 16.38 14.52 28.62 30.92 17.58 21.59 20.69 9.64 60.36 74.71 62.50 54.18

Change ($) 0.68 2.85 3.41 0.95 0.52 0.27 1.05 0.92 0.69 0.71 0.42 0.25 1.97 3.07 1.49 2.23

Change (%) 2.43 3.48 4.56 1.58 3.19 1.85 3.66 2.96 3.90 3.28 2.03 2.60 3.26 4.12 2.38 4.12

YTDChange (%) 7.75 7.88 7.64 1.36 5.71 0.89 1.62 4.42 6.08 8.14 3.35 -0.02 4.25 6.14 5.02 6.51

MER (%) 2.40 0.60 0.61 2.31 2.29 2.67 0.68 0.81 2.63 0.61 2.46 3.24 3.19 2.52 2.09 2.26

TotalAssets (M$) 57.58 58.17 83.06 345.96 61.21 625.55 5.42 22.25 1239.27 28.31

66.75 424.39 133.31

143 New Highs Alcoa* Alliance Res* Alphamin Res Alphamin Res * Altius Mnrls Altius Mnrls * Amarillo Gold Amerigo Res Amerigo Res* Amex Expl Anglo Pac Grp AngloGold Ash* Arch Resources* Arianne Phosph Arianne Phosph* Arizona Metals* Arizona Silver* Artemis Gold Asante Gold Banyan Gold Banyan Gold* Barrick Gold Barrick Gold* Black Hills* Cameco Corp Capitan Mining Capitan Mining* Capstone Mng

Champion Bear* Chevron Corp* Churchill Res Cleveland-Clif* CONSOL Energy* CopAur Min* Core Assets District Cop District Cop* Dolly Vard Sil Dolly Vard Sil* Encanto Potash First Point* First Quantum Four Nines FPX Nickel Franco-Nevada Franco-Nevada* G2 Goldfields G2 Goldfields* Galleon Gold Gentor Res GFG Resources GFG Resources* Global Atomic Global Atomic* Gold Fields* Golden Harp* GoldMining

GoldON Res* Green River Green River* i-80 Gold i-80 Gold* iMetal Res* Intrepid Pots* Itafos Itafos* Jervois Mining Jervois Mining* Josemaria Res Karnalyte Res Karora Res* Labrador IOR Lake Resources* Los Andes Los Andes* MAX Res Metals X* Moneta Porcpn Moneta Porcpn* Mosaic* Newcrest Mg Newmont Corp Newmont Corp* Nickel 28 Nickel Creek Nickel Creek*

North Peak Res North Peak Res* Nutrien Nutrien* OceanaGold Optimum Vent Orca Gold Orca Gold* Orla Mining Orvana Mnrls* Osisko Gold Perseus Mng Pine Cliff En Pine Cliff En* PolyMet Mng PolyMet Mng* Pretium Res Pretium Res* Probe Metals Reunion Gold Reunion Gold* Royal Gold* Sama Res Sama Res* Sanatana Res* Select Sands Sherritt Intl SilverCrest Skeena Res

SOPerior Fert South32* SSR Mining SSR Mining* Stone Gold Suncor Energy Suncor Energy* Superior Gold Superior Gold* Teck Res Teck Res* Titan Mining Titanium Corp Transition Met* United States S* Wesdome Gold Wesdome Gold* Western Areas* Western Potash Western Res* Wheaton Prec Wheaton Prec* Whitehaven Coa* Yamana Gold Yamana Gold* Yanzhou Coal* Yorbeau Res Zacatecas Silv*

26 New Lows Adventus Arctic Fox Ven Borneo Res Inv* Chakana Copper* Dajin Lithium* GoldHaven Res* Legion Metals Lomiko Mtls* Magna Gold* Monarca Mnrls* Nobel Res* Orea Mining* Pure Energy Pure Energy* Ridgestone M’g* Scottie Res* Secova Metals Standard Graph* Starr Peak* Strikepoint Gd Strikepoint Gd* Tanqueray Expl UC Res* United Battery Uragold Bay Rs Winston Res

GLOBAL MINING NEWS · SINCE 1915 Financial information provided by Fundata Canada Inc. ©Fundata Canada Inc. All rights reserved

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LEGEND A C L N O Q T V X *

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Australian Securities Exchange Canadian Stock Exchange London Stock Exchange New York Stock Exchange U.S. over-the-counter NASDAQ or U.S. OTC Toronto Stock Exchange TSX Venture Exchange NYSE American Denotes price in U.S.$

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

20

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: MARCH 7–11, 2022 (100s) Stock

WWW.NORTHERNMINER.COM

MARCH 21—APRIL 3, 2022 / THE NORTHERN MINER

Exc Volume

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Low

Last

12-month Change

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A 1111 Explor 1844 Resources 1911 Gold* 1911 Gold 55 North 79 Resources 79North A.I.S Res* A.I.S Res Abacus Mining* Abacus Mining Abcourt Mines Abcourt Mines* Aben Resources* Aben Resources AbraSilver Res AbraSilver Res* Academy Metals* Academy Metals ACME Lithium Adamera Min Adamera Min* Adex Mining Advance Gold Advance United Adventus Adventus* Adyton Res* Adyton Res AEX Gold African Energy* African Gold* African Gold African Metals Aftermath Silv* Agnico Eagle* Agnico Eagle Aguila Amer Gd* Aguila Amer Gd Aiml Res* AJN Resources Akwaaba Mining Alamos Gold Alamos Gold* Alcoa* Aldebaran Res* Aldebaran Res Alerio Gold Alexandra Cap* Alexco Res* Alexco Res Alianza Min* Alianza Min Alien Metals* All American* Allegiant Gold Allegiant Gold* Alliance Mng Alliance Res* Allied Copper Allied Copper* Alma Gold Almaden Min Almaden Min* Almadex Min* Almadex Min Almonty Ind * Almonty Ind Aloro Mining* Aloro Mining Alpha Copper Alpha Lithium* Alpha Lithium Alphamin Res * Alphamin Res Altai Resource Altai Resource* Altair Res Inc Altaley Mining Altaley Mining* Altamira Gold* Altamira Gold Altan Nevada Altan Rio Min Altiplano Met Altiplano Met* Altius Mnrls * Altius Mnrls Alto Ventures* Alto Ventures Altura Mining* Alturas Min Altus Strat* Altus Strat Alumina Ltd* ALX Resources ALX Resources* AM Resources Amani Gold* Amarc Res Amarc Res* Amarillo Gold Amarillo Gold* Amer Intl Vent* American Creek* American Creek American CuMo* American CuMo American Eagle American Lith* American Lith American Mang* American Mang American Pac American Rare* AmericanSierra* Americas Silvr* Americas Silvr Amerigo Res Amerigo Res* Ameriwest Lith* Ameriwest Lith Amex Expl Amex Expl* AmmPower* AmmPower Amseco Expl AMV Capital Anaconda Mng* Anaconda Mng Anacortes Mg Andean Prec Andean Prec* Anfield Energy* Anfield Energy Angel Gold Angkor Gold* Angkor Res Anglo American* Anglo American* Anglo Pac Grp AngloGold Ash* AngloGold Ash* Angold Res Angold Res* Angus Gold* Angus Gold Antioquia Gold Antioquia Gold* Antler Gold Antler Gold * Antler Hill Antofagasta* Apex Res * Apex Res Apogee Min Apollo Silver Apollo Silver* Appia Rare* Appia Rare Applied Min* Arbor Metals Arch Resources* Archer Explor

C 95 V 840 O 262 V 167 C 696 C 277 C 344 O 25 V 157 O 318 V 159 V 357 O 259 O 588 V 981 V 7679 O 6962 O 1 V 0 C 127 V 1963 O 617 V 429 V 290 C 271 V 2029 O 225 O 453 V 458 V 795 O 22 O 32 V 1398 V 95 O 1785 N 37176 T 15461 O 31 V 126 O 14 C 19 V 40 T 8816 N 33421 N 52986 O 70 V 65 C 341 O 423 X 6714 T 1576 O 56 V 387 O 50 O 21651 V 389 O 740 V 11 D 4000 V 160 O 10 C 98 T 1037 X 35111 O 221 V 243 O 67 T 351 O 20 V 1 C 382 O 396 V 2221 O 3793 V 10583 V 399 O 10 V 103 V 603 O 830 O 318 V 841 V 409 V 7 V 513 O 385 O 333 T 1379 O 769 V 1517 O 1 V 12 O 5 V 54 O 47 V 3062 O 1052 V 267 O 371166 V 787 O 133 V 670 O 36 O 1950 O 360 V 644 O 43 V 2096 V 292 O 2131 V 3044 O 1192 V 1508 C 1103 O 42 O 41 X 6308 T 2516 T 2824 O 977 O 2751 C 692 V 601 O 521 O 810 C 600 V 90 V 0 O 219 T 606 V 815 V 545 O 253 O 2939 V 3603 V 3 O 35 V 280 O 25 O 1488 T 139 O 44 N 28050 V 280 O 18 O 115 V 341 V 53 O 64 V 6 O 1 V 0 O 1 O 109 V 309 V 0 V 1432 O 182 O 1097 C 1164 O 2660 V 114 N 5375 C 29

0.05 0.09 0.31 0.40 0.06 0.07 0.10 0.04 0.05 0.06 0.07 0.10 0.08 0.04 0.06 0.45 0.35 0.36 0.00 1.20 0.10 0.08 0.02 0.06 0.67 0.80 0.62 0.04 0.05 0.54 0.07 0.12 0.15 0.07 0.34 63.39 81.57 0.24 0.29 0.12 0.38 0.02 11.24 8.82 92.32 0.80 1.02 0.20 0.24 2.09 2.67 0.06 0.07 0.02 0.00 0.39 0.32 0.25 16.16 0.27 0.21 0.09 0.62 0.49 0.25 0.32 0.82 1.04 0.04 0.00 1.08 0.55 0.79 0.95 1.21 0.10 0.09 0.10 0.43 0.33 0.20 0.25 0.02 0.11 0.34 0.27 20.00 25.68 0.27 0.34 0.03 0.02 0.75 1.05 6.29 0.08 0.06 0.06 0.00 0.12 0.10 0.43 0.35 0.01 0.16 0.21 0.05 0.06 0.13 2.58 3.19 0.59 0.70 0.96 0.33 0.06 1.31 1.66 1.95 1.53 0.77 0.95 3.36 2.60 0.38 0.47 0.05 0.00 0.60 0.79 1.74 2.18 1.69 0.11 0.15 0.26 0.10 0.12 52.82 25.91 3.10 27.20 26.96 0.18 0.19 0.91 1.15 0.04 0.03 0.13 0.11 0.00 19.00 0.06 0.09 0.00 0.66 0.51 0.51 0.64 0.01 2.52 163.99 0.45

0.05 0.00 0.28 0.36 0.00 0.06 0.10 0.03 0.04 0.04 0.00 0.09 0.07 0.04 0.05 0.40 0.31 0.36 0.00 1.06 0.06 0.05 0.00 0.05 0.00 0.71 0.56 0.03 0.04 0.48 0.06 0.10 0.13 0.00 0.29 56.01 71.45 0.19 0.00 0.00 0.37 0.00 9.91 7.77 77.00 0.75 0.00 0.18 0.20 1.76 2.26 0.00 0.06 0.02 0.00 0.00 0.26 0.00 14.37 0.24 0.20 0.05 0.40 0.30 0.21 0.29 0.71 0.90 0.04 0.00 0.82 0.45 0.64 0.82 1.06 0.08 0.09 0.00 0.37 0.30 0.17 0.22 0.00 0.00 0.29 0.23 18.06 23.45 0.21 0.27 0.03 0.00 0.73 0.00 5.76 0.07 0.05 0.00 0.00 0.11 0.00 0.42 0.33 0.01 0.15 0.19 0.03 0.04 0.00 2.11 2.70 0.45 0.60 0.85 0.29 0.00 1.06 1.36 1.78 1.36 0.66 0.86 2.91 2.29 0.31 0.40 0.00 0.00 0.52 0.66 1.41 1.69 1.35 0.09 0.12 0.00 0.08 0.11 47.50 24.49 2.61 0.00 24.18 0.16 0.00 0.79 1.00 0.00 0.03 0.00 0.11 0.00 18.20 0.05 0.00 0.00 0.56 0.44 0.41 0.53 0.01 2.30 135.81 0.41

0.05 + 0.09 unch 0.30 + 0.39 + 0.05 unch 0.06 0.10 + 0.03 0.05 unch 0.05 + 0.06 0.09 unch 0.07 0.04 0.06 + 0.41 + 0.32 + 0.36 unch 0.37 unch 1.17 + 0.08 + 0.06 + 0.02 + 0.06 + 0.65 + 0.80 + 0.61 0.04 0.05 + 0.52 + 0.06 0.12 + 0.14 + 0.07 0.30 + 61.40 + 78.22 + 0.23 + 0.29 + 0.11 + 0.37 + 0.02 unch 11.09 + 8.72 + 79.04 0.76 1.00 0.18 0.23 + 1.91 + 2.42 + 0.06 0.07 unch 0.02 unch 0.00 0.36 0.29 + 0.25 unch 15.55 + 0.25 0.21 0.08 + 0.49 + 0.40 + 0.24 + 0.32 + 0.82 + 1.03 + 0.04 unch 0.06 unch 0.93 0.50 0.69 0.92 + 1.19 + 0.10 0.09 0.09 unch 0.39 + 0.31 + 0.19 + 0.25 + 0.01 0.11 0.30 0.23 18.86 23.91 0.23 + 0.29 + 0.03 unch 0.02 + 0.75 1.05 + 5.92 0.08 + 0.06 + 0.06 + 0.00 unch 0.12 unch 0.09 + 0.43 + 0.33 + 0.01 + 0.16 + 0.20 + 0.04 + 0.05 + 0.11 2.34 + 2.98 + 0.48 0.62 0.87 0.30 0.06 + 1.18 + 1.47 + 1.87 + 1.47 + 0.70 0.89 3.09 + 2.40 + 0.33 0.43 unch 0.05 unch 0.12 unch 0.58 + 0.74 + 1.45 1.97 + 1.57 + 0.11 + 0.14 + 0.22 0.09 0.12 51.25 25.43 2.88 + 27.06 + 25.53 + 0.17 0.13 0.91 + 1.15 + 0.04 unch 0.03 unch 0.11 0.11 unch 0.18 unch 19.00 unch 0.05 0.08 + 0.11 unch 0.56 0.45 0.49 + 0.63 + 0.01 2.39 + 153.01 + 0.45 unch

0.01 0.00 0.03 0.04 0.00 0.01 0.01 0.00 0.00 0.01 0.01 0.00 0.00 0.00 0.01 0.01 0.01 0.00 0.00 0.01 0.01 0.00 0.01 0.01 0.24 0.01 0.00 0.00 0.01 0.05 0.01 0.00 0.01 0.01 0.01 4.91 6.33 0.03 0.04 0.01 0.02 0.00 1.11 0.88 11.62 0.04 0.01 0.02 0.02 0.11 0.14 0.00 0.00 0.00 0.00 0.02 0.01 0.00 0.24 0.02 0.01 0.03 0.12 0.10 0.00 0.02 0.08 0.09 0.00 0.00 0.02 0.03 0.07 0.04 0.08 0.01 0.00 0.00 0.01 0.01 0.00 0.02 0.01 0.02 0.04 0.02 0.02 0.11 0.02 0.02 0.00 0.01 0.18 0.04 0.22 0.01 0.01 0.01 0.00 0.00 0.00 0.02 0.00 0.00 0.00 0.01 0.01 0.02 0.02 0.01 0.01 0.08 0.09 0.10 0.01 0.02 0.06 0.06 0.05 0.04 0.05 0.07 0.15 0.09 0.01 0.00 0.00 0.00 0.01 0.02 0.24 0.11 0.15 0.03 0.03 0.04 0.00 0.01 1.18 0.39 0.23 1.16 0.46 0.01 0.01 0.10 0.14 0.00 0.00 0.02 0.00 0.00 0.00 0.01 0.02 0.00 0.04 0.03 0.05 0.06 0.00 0.08 0.62 0.00

0.15 0.11 0.59 0.72 0.23 0.15 0.16 0.11 0.11 0.18 0.24 0.17 0.15 0.07 0.09 0.82 0.68 0.45 3.00 1.34 0.12 0.10 0.04 0.11 2.09 1.28 1.06 0.07 0.27 0.65 0.21 0.24 0.20 0.15 0.86 74.50 89.95 1.00 0.40 0.79 0.45 0.04 11.33 9.38 92.32 0.88 1.13 0.49 0.81 3.34 4.01 0.11 0.13 0.03 0.02 0.56 0.46 1.15 16.16 0.68 0.44 0.23 0.93 0.75 0.27 0.33 1.07 1.27 0.13 0.08 1.09 0.65 1.69 0.95 1.20 0.17 0.11 0.19 0.80 0.79 0.42 0.47 0.05 0.20 0.50 0.36 20.00 25.68 0.37 0.43 0.11 0.05 1.22 1.60 6.99 0.15 0.12 0.10 0.00 0.20 0.16 0.43 0.35 0.06 0.28 0.36 0.06 0.08 0.40 5.00 6.25 1.53 1.90 1.40 0.36 0.29 2.72 3.40 1.95 1.53 1.37 1.74 3.36 2.68 1.90 2.15 0.12 0.15 0.85 1.05 2.50 2.30 1.83 0.18 0.23 0.40 0.13 0.17 55.02 27.50 3.10 27.20 26.96 0.47 0.34 1.25 1.28 0.06 0.05 0.29 0.55 0.18 27.80 0.13 0.09 0.14 1.15 1.00 1.00 1.22 0.05 2.85 163.99 1.25

0.05 0.05 0.21 0.26 0.04 0.06 0.08 0.03 0.04 0.04 0.06 0.08 0.05 0.03 0.04 0.32 0.25 0.36 0.37 0.31 0.05 0.04 0.01 0.05 0.15 0.71 0.56 0.03 0.04 0.44 0.01 0.01 0.11 0.06 0.25 45.42 58.02 0.12 0.15 0.10 0.16 0.01 8.30 6.51 27.11 0.36 0.46 0.18 0.15 1.34 1.70 0.05 0.06 0.01 0.00 0.23 0.18 0.20 5.33 0.19 0.12 0.04 0.34 0.27 0.14 0.20 0.58 0.78 0.01 0.04 0.10 0.25 0.45 0.44 0.53 0.06 0.05 0.04 0.29 0.22 0.13 0.17 0.01 0.09 0.23 0.18 10.67 13.48 0.10 0.12 0.00 0.02 0.50 0.80 4.44 0.05 0.04 0.04 0.00 0.06 0.05 0.20 0.16 0.00 0.12 0.16 0.02 0.04 0.10 1.20 1.50 0.37 0.47 0.13 0.02 0.02 0.68 0.85 0.85 0.67 0.53 0.48 2.07 1.65 0.30 0.38 0.04 0.12 0.39 0.50 1.07 0.92 0.77 0.06 0.08 0.15 0.04 0.05 33.55 16.75 1.99 15.31 14.57 0.13 0.10 0.56 0.69 0.03 0.02 0.09 0.08 0.18 16.50 0.01 0.04 0.09 0.44 0.36 0.33 0.42 0.01 1.70 39.02 0.08

(100s) Stock

Exc Volume

Week Low

0.00 0.22 unch 0.00 0.15 unch 0.06 0.06 unch 0.00 0.15 + 0.00 0.05 unch 0.07 0.09 + 0.00 0.03 0.00 0.10 0.07 0.07 + 0.31 0.32 0.40 0.43 0.35 0.37 0.28 0.28 0.00 0.17 0.08 0.09 + 0.06 0.07 unch 1.76 1.96 + 2.28 2.50 + 0.58 0.61 + 0.47 0.48 + 1.62 1.63 0.05 0.05 0.06 0.07 6.27 6.33 4.92 5.01 0.37 0.40 + 0.47 0.50 unch 0.00 0.54 6.73 6.88 5.30 5.37 1.47 1.89 + 0.00 0.60 unch 0.00 0.14 0.00 0.19 1.03 1.04 0.80 0.81 0.00 0.14 unch 0.04 0.05 + 0.00 0.06 unch 0.10 0.11 + 0.13 0.15 + 0.00 0.36 0.01 0.01 6.52 6.61 0.35 0.35 0.46 0.48 0.00 0.07 0.00 0.14 unch 0.35 0.38 + 0.45 0.48 + 1.32 1.53 + 0.99 1.15 + 0.17 0.17 unch 0.00 0.20 1.18 1.45 + 0.94 1.15 + 0.00 0.14 unch 11.80 12.92 + 0.00 9.82 + 0.54 0.59 + 0.70 0.73 unch 0.31 0.32 0.24 0.25 0.00 0.18 0.00 0.33 + 0.23 0.26 + 1.01 1.01 + 0.78 0.82 + 0.00 0.05 unch 0.11 0.11 0.00 1.05 unch 0.00 0.16 + 0.12 0.12 unch 0.00 0.07 unch 0.00 0.06 unch 0.00 0.08 0.92 1.05 0.80 0.84 + 0.11 0.11 unch 0.08 0.09 0.03 0.03 0.04 0.04 0.00 0.06 unch 0.90 1.01 + 1.14 1.27 + 0.00 0.07 0.05 0.05 0.00 0.20 unch 0.03 0.03 unch 0.03 0.03 8.09 8.60 0.03 0.03 0.03 0.04 1.08 1.12 1.34 1.41 0.06 0.06 + 0.08 0.08 + 0.29 0.30 0.21 0.23 0.09 0.13 + 0.07 0.10 +

Archon Mineral Arcland Res ArcPacific Res Arctic Fox Ven Arctic Star* Arctic Star Arcus Dev Grp Arcwest Explor Arcwest Explor* Arena Min* Arena Min Argentina Lith Argentina Lith* Argentum Silvr Argo Gold Argo Gold* Argonaut Gold* Argonaut Gold Arianne Phosph Arianne Phosph* Aris Gold Arizona Gold* Arizona Gold Arizona Metals Arizona Metals* Arizona Silver* Arizona Silver Armor Min Artemis Gold Artemis Gold* Asante Gold Asbestos Corp Ascendant Res* Ascendant Res Ascot Res Ascot Res * AsiaBaseMetals Aston Bay* Aston Bay ATAC Res* ATAC Res Atacama Cop Atacama Res* Atalaya Mining Athabasca Min* Athabasca Min Athena Gold* Athena Atico Mining* Atico Mining Atlas Salt Atlas Salt* Aton Resources* Aton Resources Augusta Gold Augusta Gold* AUQ Gold* Aura Minerals Aura Minerals* Aurania Res* Aurania Res Aurcana Silver Aurcana Silver* AurCrest Gold Aurelius Min Aurelius Min* Aurion Res Aurion Res * Aurora Royal Aurwest Res AURYN Mining* Aust Goldfield* Aust Mines* Austin Res Austral Gold* Austral Gold Auxico Res Auxico Res* Avalon Advance Avalon Advance* Avarone Metals* Avidian Gold* Avidian Gold Avino Silver* Avino Silver Avrupa Min Avrupa Min* Awale Res Axmin Inc* Axmin Inc Aya Gold* Azarga Metals* Azarga Metals Azimut Explor* Azimut Explor Azincourt Ener* Azincourt Ener Aztec Minerals Aztec Minerals* Azucar Min Azucar Min*

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

0 0 354 120 0 2357 50 352 34 859 1407 417 549 4 174 137 1197 9283 3788 2281 270 1067 2991 716 485 289 568 2 1196 60 1281 0 22 189 4155 1900 0 205 652 930 1430 29 3482 14 70 769 1 0 141 240 1575 26 250 98 928 476 0 177 1 158 173 2906 2730 116 110 30 327 54 10 663 2 24 29 0 0 194 549 16 1445 395 14 48 996 5184 488 12 8 147 96 275 36 426 618 88 261 3262 18342 415 127 418 287

0.00 0.00 0.06 0.15 0.00 0.09 0.03 0.12 0.07 0.35 0.45 0.39 0.31 0.20 0.09 0.07 2.00 2.56 0.73 0.57 1.89 0.06 0.07 6.89 5.53 0.43 0.54 0.54 7.89 6.20 1.95 0.00 0.15 0.20 1.18 0.92 0.00 0.05 0.06 0.12 0.16 0.38 0.01 7.35 0.45 0.57 0.09 0.00 0.38 0.49 1.65 1.40 0.17 0.21 1.52 1.35 0.00 12.92 9.82 0.62 0.79 0.39 0.30 0.20 0.33 0.26 1.09 0.84 0.05 0.14 1.05 0.18 0.14 0.00 0.00 0.09 1.15 0.87 0.12 0.10 0.04 0.05 0.06 1.06 1.36 0.07 0.06 0.23 0.04 0.04 8.98 0.03 0.04 1.16 1.49 0.07 0.09 0.35 0.27 0.13 0.10

B2Gold Corp B2Gold Corp* Bald Eagle Balto Res Bam Bam Res Bam Bam Res* Bannerman Egy* Banyan Gold Banyan Gold* Barksdale Res* Barksdale Res Baroyeca Gold Baroyeca Gold* Barrick Gold* Barrick Gold Barsele Min* Barsele Min Baru Gold Baru Gold* Baselode Egy* Baselode Egy Basin Uranium Batero Gold Batero Gold* Bathurst Met Bathurst Metal* Battery Min Bayhorse Silvr* Bayhorse Silvr BC Moly BCM Res* BCM Res BE Res Bear Creek Mng Bear Creek Mng* Bearclaw Cap Bearing Lith Bearing Lith* Beauce Gold Bell Copper Bell Copper* Belmont Res Belo Sun Mng Belo Sun Mng* BeMetals * BeMetals Benchmark Met* Benchmark Met Benjamin Hill Benjamin Hill* Benton Res* Benton Res Benz Mining* Benz Mining Bessor Min* Bessor Min Bird River Res Bitterroot Res* Bitterroot Res Black Hills* Black Iron* Black Iron Black Mammoth*

T 33996 X 93758 V 440 V 163 C 8162 O 5115 O 6080 V 1681 O 178 O 43 V 460 V 1199 O 366 N 190167 T 36228 O 14 V 512 V 1724 O 1130 O 620 V 1786 C 955 V 189 O 74 V 16 O 8 V 101 O 1074 V 2524 V 11 O 218 V 370 V 0 V 852 O 518 V 1 V 498 O 327 V 225 V 1686 O 1407 V 697 T 631 O 2216 O 450 V 294 O 155 V 1200 C 1009 O 111 O 163 V 523 O 6 V 108 O 17 V 59 C 182 O 479 V 1783 N 1496 O 85 T 2749 O 63

5.92 4.62 0.10 0.10 0.09 0.08 0.23 0.48 0.38 0.45 0.60 0.50 0.48 26.07 33.50 0.38 0.55 0.11 0.09 0.76 0.97 0.61 0.11 0.06 0.13 0.09 0.36 0.07 0.09 0.25 0.24 0.27 0.00 1.29 1.01 0.21 0.30 0.22 0.11 0.70 0.55 0.07 0.76 0.59 0.20 0.28 0.92 1.18 0.65 0.50 0.16 0.20 0.47 0.60 0.04 0.06 0.18 0.10 0.14 73.43 0.10 0.13 0.12

Last

12-month

High

Change

Exc Volume

Week

Stock

0.00 0.00 0.00 0.03 0.00 0.01 0.01 0.01 0.00 0.03 0.02 0.01 0.01 0.02 0.01 0.00 0.14 0.17 0.03 0.01 0.06 0.00 0.01 0.37 0.28 0.01 0.00 0.09 0.81 0.60 0.39 0.00 0.01 0.01 0.07 0.06 0.00 0.00 0.00 0.01 0.02 0.03 0.00 0.70 0.12 0.07 0.02 0.00 0.03 0.03 0.03 0.16 0.00 0.02 0.24 0.16 0.00 1.21 0.66 0.03 0.00 0.01 0.00 0.01 0.04 0.04 0.01 0.02 0.00 0.03 0.00 0.01 0.00 0.00 0.00 0.01 0.01 0.01 0.00 0.00 0.01 0.00 0.00 0.12 0.13 0.01 0.01 0.00 0.00 0.01 0.01 0.00 0.01 0.02 0.01 0.01 0.01 0.03 0.01 0.04 0.02

0.36 0.38 0.25 0.16 0.24 0.29 0.04 0.12 0.10 0.52 0.66 0.96 0.77 0.28 0.26 0.19 3.23 4.09 0.73 0.57 2.70 0.12 0.15 6.98 5.53 0.43 0.54 0.72 7.89 6.21 1.75 0.80 0.55 0.34 1.41 1.33 0.25 0.06 0.09 0.16 0.20 0.65 0.04 8.48 0.54 0.70 0.21 0.30 0.65 0.78 1.98 1.87 0.22 0.26 2.99 2.25 0.40 17.50 14.31 2.95 3.70 1.10 0.91 0.39 0.80 0.51 1.36 1.09 0.09 0.22 1.05 0.48 0.27 0.10 0.30 0.20 1.85 1.68 0.30 0.25 0.05 0.40 0.21 1.44 1.73 0.11 0.15 0.88 0.06 0.08 9.44 0.12 0.17 1.98 2.49 0.10 0.13 0.41 0.32 0.15 0.13

0.19 0.06 0.04 0.12 0.04 0.05 0.03 0.06 0.05 0.08 0.10 0.11 0.08 0.14 0.08 0.06 1.55 1.98 0.26 0.21 1.21 0.04 0.05 1.54 1.24 0.13 0.17 0.54 4.86 3.40 0.10 0.50 0.12 0.14 0.84 0.67 0.13 0.03 0.04 0.07 0.09 0.32 0.01 4.71 0.12 0.15 0.06 0.10 0.27 0.37 0.40 0.48 0.12 0.16 0.89 0.71 0.13 9.01 7.13 0.54 0.69 0.28 0.22 0.12 0.21 0.17 0.65 0.43 0.03 0.08 0.35 0.01 0.12 0.06 0.05 0.07 0.35 0.10 0.09 0.07 0.02 0.04 0.06 0.70 0.89 0.06 0.05 0.18 0.03 0.03 3.56 0.03 0.03 0.73 0.90 0.04 0.04 0.22 0.16 0.07 0.06

Black Mammoth Black Mountain Black Mountain* Black Tusk Res Black Tusk Res* Blackrock Silv* Blackrock Silv Blackwolf Cop Blackwolf Cop* Blind Creek Blue Lagoon Blue Lagoon* Blue Moon Blue Moon* Blue River Res Blue River Res* Blue Sky Uran* Blue Sky Uran Blue Star Gold Blue Thunder BlueBird Batt* BlueBird Batt Bluejay Mining* Bluestone Res Bluestone Res* BMEX Gold BMEX Gold* Bold Ventures Bolt Metals* Bolt Metals Bonanza Gold* Bond Resources BonTerra Res Boreal Metals Boreal Metals* Borneo Res Inv* Boundary Gold* Boundary Gold Brascan Gold Bravada Gold Bravada Gold* Braveheart Res Braveheart Res* Bravo Multinat* Brazil Min* Brigadier Gold* Brigadier Gold BrightRock* Brixton Metals* Brixton Metals Brookmount Exp* Brunswick Expl Bryn Res* BTU Metals BTU Metals* Buenaventura* Buffalo Coal Buffalo Coal * Bullet Explor Bullion Gold* Bunker Hill Burrell Res Bushveld Min* BWR Explor

V V O C O O V V O V C O V O V O O V V V O V O V O V O V O C O C V V O O O V C V O V O O O O V O O V O V O V O N V O V O C C O V

81 135 37 1005 8 3127 2749 185 5 454 1395 512 565 426 2920 252 1134 2046 144 446 285 289 1189 520 74 163 15 91 9 18 2332 524 341 243 39 5129 4 97 44 460 315 4306 4630 2 47667 31 916 591 1193 1258 262 200 2 625 12 10672 609 21 4 30 2087 2 27 0

0.16 0.47 0.35 0.03 0.02 0.95 1.20 0.74 0.51 0.06 0.64 0.51 0.04 0.04 0.02 0.02 0.20 0.25 0.42 0.04 0.07 0.09 0.12 2.11 1.66 0.14 0.11 0.09 0.11 0.13 0.00 0.04 1.34 0.12 0.10 0.00 0.03 0.04 0.41 0.06 0.05 0.11 0.09 0.06 0.01 0.03 0.04 0.09 0.17 0.22 0.30 0.15 0.02 0.10 0.08 12.35 0.03 0.02 0.07 0.08 0.38 0.25 0.15 0.00

0.23 0.20 0.00 0.03 0.01 0.00 0.05 0.03 0.03 0.09 0.08 0.03 0.03 0.15 0.25 0.02 0.09 0.01 0.01 0.11 0.14 0.10 0.02 0.01 0.02 0.00 0.01 0.00 0.00 0.00 0.01 0.01 0.00 0.04 0.02 0.02 0.04 0.02 0.01 0.16 0.13 0.01 0.01 0.01 0.04 0.03 0.02 0.02 0.05 0.04 0.01 0.01 0.01 0.03 0.01 0.01 0.01 0.01 0.01 1.74 0.01 0.01 0.04

6.63 5.37 0.16 0.33 0.42 0.33 0.33 0.48 0.38 0.57 0.70 0.50 0.49 26.07 33.50 0.66 0.82 0.16 0.13 1.23 1.54 1.08 0.15 0.12 0.18 0.12 0.85 0.25 0.26 0.40 0.25 0.35 0.20 2.42 1.92 0.37 0.44 0.35 0.40 0.73 0.58 0.11 0.95 0.80 0.37 0.46 1.36 1.64 0.67 0.50 0.37 0.25 0.79 0.97 0.15 0.09 0.25 0.16 0.20 73.43 0.62 0.76 0.18

4.21 3.30 0.04 0.04 0.05 0.04 0.09 0.17 0.10 0.22 0.26 0.16 0.12 17.27 22.30 0.28 0.35 0.06 0.05 0.32 0.40 0.45 0.06 0.04 0.09 0.08 0.33 0.05 0.07 0.07 0.07 0.08 0.20 0.92 0.74 0.21 0.14 0.11 0.08 0.11 0.09 0.05 0.39 0.32 0.10 0.19 0.71 0.90 0.31 0.25 0.07 0.14 0.41 0.52 0.01 0.05 0.11 0.04 0.06 61.95 0.08 0.10 0.06

C2C Gold* C3 Metals Cabral Gold* Cabral Gold Caledonia Mng* Calibre Mng* Calibre Mng Califfi Cap Callinex Mines* Callinex Mines Cameco Corp* Cameco Corp Camino Min Camino Min* Camrova Res* Camrova Res Canada Carbon* Canada Carbon Canada Nickel Canada Nickel* Canada One Canada Rare* Canada Rare Canada Silver Canada Silver* Canadian Metal Canadian Prem* Canadian Prem Canadian Silv Canagold Res Canagold Res* CanAlaska Uran CanAlaska Uran* Canasil Res Candelaria Mg* Candelaria Mg Candente Coppr Candente Gold* Candente Gold CANEX Metals * CANEX Metals CaNickel Mng CaNickel Mng* Canoe Mng Vent Canoe Mng Vent* Canstar Res* Canstar Res Canterra Min* Canterra Min Cantex Mn Dev* Cantex Mn Dev Canuc Res Canuc Res* Capella Min* Capella Min Capitan Mining Capitan Mining* Capstone Mng Cariboo Rose Carlin Gold Carlyle Comm* Carrara Explor Cartier Iron Cartier Res Cartier Res* Casa Minerals Casa Minerals * Cascada Silver Cascadero Copp Cassiar Gold Cassius Vents CAT Strategic CAT Strategic* CAVU Mining* CAVU Mining Cdn Goldcamps Cdn Manganese Cdn Palladium* Cdn Palladium Centamin Centerra Gold Central Afric Central Iron Centurion Mnls Century Cobalt* Century Global* Century Global Cerrado Gold Cerro de Pasc * Cerro de Pasc Cerro Grande Cerro Mng Ceylon Graph* Ceylon Graph Chakana Copper Chakana Copper* Chalice Gold M* Champion Bear* Champion Bear Champion Iron*

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

246 2883 128 553 270 2106 13507 87 170 131 71582 13163 421 22 1 0 75 363 5586 1623 0 243 651 3821 1037 179 2 33 307 410 203 1972 898 1301 2 495 814 105 1129 32 1020 14 0 33 25 422 143 35 12 3 583 207 266 186 947 1628 125 9997 29 13 12 2542 942 2492 528 388 150 561 13 1348 0 1913 102 5 165 0 109 6038 6578 592 5965 677 141 0 215 43 67 661 110 274 5 0 116 482 931 268 42 89 123 69

0.19 0.10 0.38 0.49 13.79 1.33 1.72 0.16 2.71 3.46 28.18 36.06 0.09 0.07 0.01 0.00 0.06 0.08 4.01 3.19 0.00 0.06 0.07 0.31 0.24 0.21 0.30 0.39 0.07 0.40 0.32 0.72 0.58 0.14 0.15 0.16 0.25 0.11 0.14 0.10 0.12 0.15 0.00 0.11 0.10 0.20 0.27 0.22 0.25 0.28 0.44 0.15 0.12 0.07 0.09 0.51 0.40 7.79 0.06 0.03 0.02 0.03 0.12 0.16 0.13 0.22 0.15 0.04 0.02 1.35 0.00 0.04 0.03 0.43 0.57 0.00 0.17 0.11 0.13 1.89 13.52 0.10 0.07 0.00 0.07 0.31 0.42 1.63 0.19 0.25 0.02 0.00 0.15 0.19 0.21 0.17 5.78 0.13 0.16 5.08

B 5.45 5.76 + 4.25 4.55 + 0.09 0.09 unch 0.00 0.10 + 0.06 0.06 + 0.04 0.04 0.17 0.22 + 0.44 0.47 + 0.35 0.36 + 0.28 0.37 + 0.37 0.47 + 0.45 0.48 + 0.36 0.39 + 23.40 24.35 + 29.86 31.05 + 0.35 0.38 + 0.46 0.55 + 0.10 0.10 0.08 0.08 0.62 0.69 + 0.79 0.87 + 0.45 0.51 0.09 0.11 + 0.05 0.06 + 0.00 0.12 + 0.09 0.09 unch 0.35 0.35 0.06 0.07 + 0.08 0.08 unch 0.00 0.25 unch 0.19 0.19 0.22 0.24 + 0.00 0.20 unch 1.13 1.20 + 0.89 0.95 + 0.00 0.21 0.26 0.26 0.20 0.21 0.00 0.10 + 0.47 0.50 0.37 0.40 0.07 0.07 0.68 0.69 + 0.51 0.54 0.00 0.19 + 0.20 0.23 + 0.87 0.89 + 1.11 1.13 + 0.57 0.64 + 0.44 0.50 + 0.14 0.14 0.18 0.20 + 0.46 0.46 0.58 0.59 0.03 0.03 0.00 0.06 0.15 0.16 0.07 0.08 + 0.09 0.10 + 69.61 71.04 0.09 0.09 0.11 0.12 0.08 0.12 +

(100s)

High Low

High

Low

Last

12-month Change

0.09 0.16 + 0.40 0.42 + 0.29 0.35 + 0.02 0.03 0.02 0.02 + 0.78 0.91 + 0.99 1.16 + 0.59 0.73 + 0.00 0.51 + 0.00 0.06 + 0.61 0.63 0.47 0.49 0.04 0.04 0.03 0.03 0.02 0.02 unch 0.01 0.02 + 0.16 0.19 + 0.21 0.25 + 0.34 0.37 0.00 0.04 + 0.07 0.07 + 0.00 0.09 + 0.09 0.10 + 1.93 1.96 1.54 1.54 0.00 0.13 + 0.11 0.11 unch 0.00 0.08 0.00 0.11 + 0.00 0.13 0.00 0.00 0.04 0.04 + 1.22 1.23 0.11 0.11 0.00 0.08 0.00 0.00 0.02 0.03 + 0.00 0.04 + 0.30 0.33 0.05 0.06 unch 0.04 0.04 0.07 0.10 + 0.06 0.08 + 0.00 0.06 unch 0.01 0.01 + 0.00 0.03 + 0.00 0.04 unch 0.08 0.09 0.14 0.15 + 0.19 0.20 + 0.14 0.22 + 0.14 0.15 + 0.02 0.02 0.09 0.09 0.06 0.07 10.40 10.90 0.00 0.03 + 0.02 0.02 + 0.00 0.06 0.08 0.08 0.28 0.30 0.25 0.25 unch 0.11 0.15 unch 0.00 0.03 unch

High Low

0.07 0.03 0.05 0.01 0.00 0.14 0.19 0.15 0.05 0.01 0.01 0.01 0.01 0.00 0.00 0.01 0.03 0.04 0.02 0.01 0.01 0.01 0.02 0.15 0.10 0.02 0.00 0.02 0.00 0.03 0.00 0.01 0.04 0.02 0.01 0.00 0.00 0.01 0.09 0.00 0.00 0.03 0.03 0.00 0.00 0.01 0.00 0.01 0.01 0.01 0.06 0.01 0.00 0.01 0.01 0.38 0.01 0.00 0.02 0.00 0.03 0.00 0.00 0.00

0.22 0.60 0.51 0.07 0.05 1.03 1.22 1.51 1.75 0.15 0.74 0.61 0.09 0.08 0.03 0.02 0.29 0.37 0.90 0.09 0.26 0.31 0.24 2.30 1.79 0.40 0.29 0.12 0.37 0.45 0.04 0.13 1.54 0.33 0.23 0.02 0.07 0.09 0.69 0.12 0.10 0.14 0.12 0.38 0.03 0.19 0.23 0.13 0.22 0.28 1.05 0.29 0.06 0.17 0.19 12.44 0.06 0.04 0.45 0.20 0.42 0.53 0.35 0.08

0.08 0.28 0.20 0.02 0.01 0.54 0.68 0.50 0.00 0.05 0.33 0.26 0.03 0.02 0.01 0.00 0.12 0.16 0.34 0.03 0.03 0.05 0.08 1.28 1.01 0.08 0.07 0.07 0.08 0.10 0.00 0.04 0.94 0.11 0.08 0.00 0.02 0.03 0.16 0.04 0.03 0.07 0.05 0.02 0.00 0.03 0.03 0.02 0.10 0.13 0.09 0.11 0.01 0.07 0.05 6.11 0.01 0.01 0.06 0.00 0.17 0.20 0.02 0.03

0.00 0.01 0.01 0.00 0.88 0.09 0.10 0.00 0.08 0.15 3.63 4.68 0.00 0.00 0.01 0.00 0.01 0.01 0.16 0.09 0.00 0.00 0.00 0.06 0.04 0.01 0.00 0.03 0.01 0.01 0.00 0.21 0.15 0.02 0.05 0.01 0.02 0.02 0.02 0.02 0.02 0.03 0.00 0.01 0.00 0.00 0.01 0.01 0.01 0.00 0.08 0.01 0.00 0.01 0.00 0.13 0.12 0.47 0.01 0.00 0.00 0.01 0.02 0.01 0.00 0.02 0.00 0.01 0.00 0.12 0.00 0.00 0.01 0.01 0.03 0.00 0.01 0.00 0.00 0.02 0.48 0.03 0.01 0.00 0.00 0.07 0.09 0.12 0.03 0.02 0.01 0.00 0.00 0.02 0.01 0.00 0.23 0.00 0.00 0.11

0.48 0.25 0.63 0.66 16.95 2.02 2.36 0.21 3.90 4.80 28.49 36.06 0.30 0.22 0.12 0.07 0.20 0.25 4.20 3.50 0.12 0.11 0.13 0.49 0.41 0.39 0.53 0.60 0.11 0.70 0.55 0.84 0.68 0.18 0.51 0.68 0.26 0.12 0.20 0.13 0.17 0.31 0.21 0.20 0.27 0.51 0.61 0.37 0.50 0.80 1.00 0.38 0.31 0.10 0.12 0.45 0.40 7.79 0.08 0.07 0.18 0.04 0.18 0.37 0.31 0.35 0.27 0.20 0.05 1.38 0.17 0.08 0.15 1.18 0.65 2.80 0.50 0.15 0.19 2.10 13.64 0.28 0.08 0.07 0.07 0.34 0.42 1.89 0.34 0.43 0.04 0.60 0.24 0.30 0.56 0.44 7.69 0.13 0.16 5.82

0.10 0.08 0.26 0.34 10.51 0.79 1.11 0.11 1.75 2.19 15.34 19.50 0.07 0.06 0.00 0.07 0.00 0.06 2.18 1.72 0.05 0.04 0.05 0.16 0.11 0.11 0.19 0.21 0.04 0.35 0.28 0.39 0.30 0.09 0.12 0.15 0.11 0.04 0.05 0.07 0.09 0.11 0.09 0.08 0.00 0.15 0.19 0.16 0.21 0.20 0.24 0.11 0.08 0.01 0.08 0.18 0.13 3.50 0.04 0.03 0.02 0.02 0.07 0.13 0.01 0.11 0.07 0.03 0.02 0.35 0.07 0.03 0.00 0.17 0.30 0.38 0.10 0.04 0.05 1.38 8.21 0.07 0.04 0.07 0.01 0.12 0.14 0.93 0.17 0.22 0.01 0.60 0.09 0.12 0.18 0.15 3.29 0.05 0.08 2.94

C

O C T T V V V O O T V O C C V O V V O O O V O

0.16 0.09 0.33 0.43 12.75 1.13 1.45 0.00 2.38 3.04 23.83 30.52 0.00 0.06 0.01 0.00 0.05 0.00 3.04 2.38 0.00 0.05 0.06 0.21 0.17 0.15 0.30 0.00 0.05 0.37 0.29 0.53 0.40 0.11 0.12 0.15 0.21 0.09 0.12 0.08 0.10 0.00 0.00 0.00 0.10 0.17 0.24 0.19 0.00 0.00 0.35 0.00 0.09 0.06 0.00 0.35 0.29 6.58 0.00 0.00 0.02 0.00 0.10 0.14 0.10 0.00 0.15 0.03 0.00 1.11 0.00 0.04 0.02 0.00 0.54 0.00 0.14 0.08 0.11 1.63 12.10 0.07 0.00 0.00 0.04 0.23 0.29 1.44 0.17 0.22 0.00 0.00 0.13 0.17 0.18 0.15 5.29 0.12 0.00 4.55

0.18 unch 0.09 0.33 0.43 unch 13.59 + 1.23 + 1.55 + 0.16 unch 2.64 + 3.40 + 27.11 + 34.56 + 0.08 unch 0.07 + 0.01 0.07 unch 0.06 + 0.07 + 3.14 + 2.44 + 0.12 unch 0.05 + 0.07 unch 0.27 + 0.21 + 0.16 0.30 unch 0.36 0.06 0.40 0.31 + 0.72 + 0.56 + 0.13 + 0.12 0.15 0.23 + 0.11 + 0.13 + 0.10 + 0.12 + 0.15 + 0.10 unch 0.11 0.10 unch 0.19 0.24 0.19 0.24 0.28 0.42 + 0.13 0.12 + 0.06 0.09 unch 0.51 + 0.40 + 7.11 0.06 0.03 unch 0.02 0.03 + 0.11 0.16 + 0.12 + 0.20 0.15 unch 0.04 + 0.02 unch 1.32 + 0.08 unch 0.04 unch 0.03 0.43 + 0.56 + 0.75 unch 0.14 0.08 + 0.11 unch 1.74 + 13.12 + 0.08 0.06 + 0.07 unch 0.05 + 0.23 0.32 1.51 + 0.18 0.23 0.02 + 0.60 unch 0.14 + 0.18 + 0.20 0.17 5.68 + 0.12 0.15 unch 5.08 +

(100s) Stock

Exc Volume

Champion Iron Chatham Rock Chatham Rock* Chesapeake Gld* Chesapeake Gld Chevron Corp* Chiboug Ind Mn Chiboug Ind Mn* Chilean Metals Chilean Metals* China Gold Int Churchill Res Cipher Mining* Clarity Gold* Clarity Gold Class 1 Nickel Clean Air Met Clean Comm* Cleghorn Min Cleveland-Clif* Cliffmont Res Clifton Mng* Clydesdale Res CMC Metals* CMC Metals CMX Gold & Sil Coast Copper Cobalt Block Cobalt Block* Coeur Mng* Colibri Res* Colibri Res Collective Mg* Colombia Crest Colombia Crest* Colonial Coal Comet Inds Commander Res Commander Res* Commerce Res Commerce Res* Compass Gold* Compass Gold Comstock Mng* Comstock Mtls Comstock Mtls * Condor Gold Condor Gold* Condor Res* Condor Res Conquest Res * Conquest Res Cons Uranium* Cons Uranium Cons Woodjam CONSOL Energy* CONSOL Energy* Constantine Mt* Constantine Mt Contact Gold* Contact Gold Contact Mnrls* CopAur Min CopAur Min* Copper Fox Mtl* Copper Fox Mtl Copper Lake Rs Copper Mtn Mng Copper Mtn Mng* Copper One * Copperbank Res Cordoba Mnls* Cordoba Mnls Core Assets Cornerstone Ca Cornerstone Ca* Corsa Coal * Corsa Coal Cortus Metals CoTec Holdings Crest Resource Crest Resource* Crestview Expl Critical Elem* Critical Elem Cross River* Cross River Crown Mining Crown Mining* Cruz Battery Cruz Battery* Currie Rose Rs CWN M’g Acq Cyntar Venture Cypress Dev* Cypress Dev

3604 T 310 V 0 O 189 O 142 V N 197351 17 V 1 O 5066 V 986 O 438 T 675 V 2614 D 47 O 434 C 346 C 2901 V 85 O 0 V N 165250 0 V 81 O 0 V 978 O 2176 V 700 C 77 V 105 V 39 O N 50839 412 O 805 V 6 O 467 V 22 O 441 V 0 V 33 V 68 O 505 V 34 O 100 O 18 V X 10970 3 V 18 O 136 T 3 O 21 O 208 V 201 O 576 V 319 O 540 V 515 V 3945 N N 20693 270 O 431 V 19 O 407 V 18 O 177 V 121 O 283 O 270 V 1212 V 6963 T 781 O 288 O 307 C 9 O 11 V 1793 C 148 V 10 O 1739 O 2576 V 147 V 0 V 1417 C 52 O 38 C 294 O 1193 V 5 O 188 C 856 V 139 O 647 C 545 O 1 V 21 V 16 C 1813 O 1670 V

Dajin Lithium* Dajin Res Damara Gold* Damara Gold Danakali* Decade Res Decade Res* Deep-South Res* Deep-South Res DeepRock Min Defense Metals* Defense Metals Defiance Silvr Defiance Silvr* Delrand Res Denarius Metal Denison Mines Denison Mines* Desert Gold* Desert Gold Desert Mtn Egy Diamante Min* Diamcor Mng Diamcor Mng* Diamond Fields Dios Expl Discovery Harb* Discovery Harb Discovery Silv Discovery Silv* Discovery-Corp District Cop* District Cop District Metal* District Metal District Mines Dixie Gold DLP Resouces Dolly Vard Sil Dolly Vard Sil* Dore Copper Doubleview Gld Doubleview Gld* DRDGOLD* Dundee Prec Mt Durango Res* Durango Res DV Resources Dynacor Gld Mn Dynacor Gld Mn* DynaResource* Dynasty Gold Dynasty Gold* E2Gold Inc E2Gold Inc* E3 Metals* E3 Metals E79 Resources* E79 Resources Eagle Graphite* Eagle Graphite Eagle Plains Earl Res East Africa * East Africa Eastern Platin Eastern Platin* Eastfield Res*

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

Week High

Low

Last

12-month Change

High Low

7.24 3.71 0.02 5.80 6.35 6.48 0.24 0.09 0.01 0.17 0.18 0.24 0.14 0.08 0.00 0.00 0.10 unch 0.00 4.00 1.98 0.11 + 2.85 2.95 3.20 4.79 2.54 0.05 + 3.65 3.65 4.11 + 12.25 174.76 92.86 174.76 155.72 170.90 0.46 0.15 0.01 0.00 0.19 0.20 0.36 0.12 0.00 0.14 0.14 unch 0.14 0.43 0.12 0.09 + 0.16 0.26 0.27 0.34 0.09 0.07 + 0.13 0.20 0.21 4.47 3.02 0.04 + 3.96 4.00 4.27 0.45 0.16 0.04 + 0.30 0.34 0.45 0.23 15.39 2.33 + 2.64 2.89 3.25 1.45 0.11 0.01 0.13 0.14 0.15 1.82 0.17 0.02 0.18 0.18 0.20 0.86 0.10 0.02 + 0.22 0.25 0.33 0.43 0.17 0.01 + 0.26 0.28 0.29 0.39 0.00 0.01 + 0.16 0.17 0.17 0.17 0.08 0.00 0.00 0.16 unch 0.00 0.09 27.79 14.01 27.79 23.37 25.86 0.23 0.09 0.00 0.00 0.11 unch 0.00 0.28 0.14 0.00 + 0.17 0.20 0.20 0.08 0.05 0.00 0.00 0.06 unch 0.00 0.18 0.03 0.02 + 0.08 0.14 0.15 0.21 0.08 0.03 + 0.15 0.18 0.19 0.12 0.05 0.01 0.10 0.10 0.10 0.19 0.09 0.01 + 0.00 0.16 0.16 0.14 0.03 0.01 0.00 0.03 0.03 0.12 0.02 0.00 + 0.02 0.02 0.03 0.01 11.14 4.12 4.52 4.63 5.25 0.16 0.01 0.00 0.07 0.07 0.08 0.17 0.07 0.00 0.09 0.09 unch 0.11 3.50 1.89 0.00 2.83 2.83 unch 2.90 0.64 0.10 0.04 0.42 0.45 0.50 0.48 0.08 0.02 0.35 0.35 0.37 3.73 0.50 0.30 1.95 2.02 2.44 4.00 2.80 0.00 0.00 3.02 unch 0.00 0.32 0.11 0.02 0.14 0.00 0.16 0.21 0.08 0.04 + 0.09 0.12 0.12 0.47 0.19 0.04 + 0.00 0.24 0.26 0.38 0.15 0.03 + 0.00 0.18 0.19 0.19 0.11 0.00 0.13 0.13 unch 0.13 0.25 0.11 0.00 0.00 0.20 unch 0.20 6.30 1.24 0.17 + 1.56 1.80 2.12 0.11 0.08 0.01 + 0.00 0.10 0.10 0.09 0.03 0.01 0.08 0.08 0.08 1.08 0.48 0.02 0.49 0.55 0.60 0.79 0.35 0.00 0.37 0.37 unch 0.37 0.20 0.01 0.00 + 0.10 0.10 0.11 0.25 0.11 0.01 + 0.13 0.13 0.15 0.17 0.04 0.00 + 0.00 0.04 0.04 0.21 0.05 0.01 + 0.05 0.06 0.06 2.67 1.14 0.27 + 1.88 2.13 2.43 3.29 1.35 0.36 + 2.40 2.71 3.09 0.24 0.08 0.01 + 0.00 0.11 0.11 2.63 38.44 8.65 38.44 32.52 33.29 0.57 18.78 10.41 + 18.78 17.18 18.31 0.60 0.17 0.02 + 0.29 0.33 0.34 0.77 0.21 0.03 + 0.39 0.43 0.45 0.10 0.03 0.00 + 0.00 0.04 0.05 0.12 0.04 0.00 0.00 0.06 unch 0.06 0.25 0.01 0.02 0.05 0.05 0.06 1.70 0.43 0.12 1.33 1.50 1.66 1.34 0.60 0.11 1.03 1.17 1.34 0.53 0.15 0.01 0.20 0.23 0.24 0.66 0.20 0.01 0.27 0.28 0.30 0.21 0.04 0.02 0.16 0.17 0.19 5.07 2.70 0.31 3.61 3.68 3.95 4.20 2.07 0.26 2.72 2.89 3.24 0.29 0.03 0.00 0.05 0.05 0.06 0.96 0.35 0.01 0.80 0.88 0.93 1.16 0.01 0.01 + 0.00 0.45 0.45 1.49 0.45 0.02 + 0.00 0.63 0.64 0.61 0.07 0.04 + 0.49 0.53 0.61 4.90 3.46 0.25 + 3.75 4.05 4.25 3.91 0.65 0.34 + 2.71 3.29 3.29 0.87 0.21 0.02 0.58 0.63 0.73 1.10 0.27 0.07 0.73 0.78 0.93 0.20 0.08 0.00 0.10 0.11 unch 0.11 0.68 0.15 0.00 0.00 0.64 unch 0.00 0.29 0.06 0.01 + 0.06 0.07 0.07 0.25 0.04 0.00 + 0.04 0.06 0.06 1.05 0.25 0.02 0.25 0.26 0.27 1.65 0.87 0.04 + 0.93 1.03 1.04 1.98 1.13 0.02 + 1.19 1.31 1.32 0.23 0.02 0.00 0.13 0.13 unch 0.13 0.24 0.11 0.01 0.15 0.15 0.16 0.33 0.06 0.02 + 0.08 0.10 0.10 0.29 0.04 0.01 + 0.06 0.07 0.08 0.34 0.08 0.02 0.18 0.18 0.21 0.27 0.06 0.01 0.14 0.15 0.16 0.15 0.03 0.00 0.00 0.05 unch 0.05 0.10 0.07 0.00 0.00 0.10 unch 0.10 0.99 0.46 0.02 0.00 0.47 0.50 2.13 0.68 0.03 0.89 0.98 1.04 2.61 0.83 0.07 1.14 1.21 1.31

D-F 64 32 432 3893 237 836 38 47 832 255 677 2303 1431 1607 37 492 28392 98572 0 227 264 43 390 501 0 40 486 312 3893 1543 1 1 716 103 381 0 111 15 2156 1066 309 761 198 1849 7337 1708 1345 544 142 18 2 58 37 2137 157 120 353 20 453 4 47 471 0 2 272 444 26 88

0.62 0.76 0.08 0.11 0.24 0.05 0.03 0.06 0.07 0.04 0.28 0.36 0.75 0.58 0.03 0.58 2.32 1.82 0.00 0.14 2.47 0.04 0.29 0.24 0.00 0.06 0.02 0.03 2.16 1.68 0.08 0.22 0.34 0.53 0.25 0.00 0.23 0.25 0.88 0.70 0.80 0.39 0.30 10.96 8.22 0.06 0.08 0.08 3.28 2.57 1.55 0.23 0.17 0.10 0.08 1.74 2.24 0.55 0.70 0.11 0.18 0.19 0.00 0.18 0.27 0.37 0.28 0.07

0.00 0.00 0.06 0.07 0.23 0.04 0.03 0.05 0.06 0.00 0.25 0.32 0.63 0.49 0.00 0.45 1.89 1.48 0.00 0.13 2.16 0.04 0.24 0.20 0.00 0.00 0.02 0.03 1.91 1.50 0.00 0.00 0.28 0.18 0.23 0.00 0.00 0.00 0.83 0.65 0.74 0.26 0.21 9.56 7.42 0.05 0.06 0.00 3.17 2.45 1.24 0.00 0.13 0.09 0.07 1.57 2.01 0.48 0.60 0.00 0.00 0.18 0.00 0.18 0.24 0.31 0.24 0.00

+ 0.55 + 0.70 + 0.07 + 0.09 0.24 unch 0.04 unch 0.03 0.05 0.07 unch 0.04 unch 0.25 0.33 + 0.67 + 0.53 0.03 unch 0.49 + 2.09 + 1.64 0.12 unch 0.13 unch 2.35 + 0.04 0.27 unch + 0.22 0.19 unch 0.06 unch 0.02 0.03 unch 1.93 1.53 0.08 + 0.22 + 0.33 + 0.19 0.23 unch 0.12 unch 0.21 0.25 unch 0.84 + 0.68 + 0.79 + 0.36 + 0.28 9.84 7.89 unch + 0.06 + 0.07 0.08 unch + 3.26 + 2.57 + 1.55 0.17 0.13 + 0.10 0.08 + 1.70 + 2.19 0.48 0.60 + 0.11 + 0.14 + 0.18 0.45 unch 0.18 unch 0.25 + 0.33 + 0.26 + 0.07

0.05 0.07 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.04 0.03 0.00 0.08 0.25 0.20 0.00 0.00 0.03 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.06 0.04 0.01 0.01 0.06 0.03 0.00 0.00 0.01 0.00 0.02 0.01 0.05 0.09 0.07 0.42 0.00 0.01 0.01 0.00 0.06 0.09 0.05 0.09 0.04 0.01 0.00 0.03 0.06 0.04 0.05 0.00 0.02 0.01 0.00 0.00 0.03 0.03 0.03 0.01

2.45 1.31 0.10 0.13 0.47 0.07 0.06 0.23 0.28 0.11 0.44 0.55 1.07 0.91 0.18 0.73 2.64 2.14 0.17 0.20 4.95 0.06 0.52 0.43 1.25 0.13 0.10 0.11 2.70 2.23 0.12 0.22 0.35 0.55 0.59 0.40 0.35 0.34 0.88 0.70 1.28 1.18 1.22 13.18 9.72 0.07 0.09 0.16 3.32 2.69 2.45 0.35 0.20 0.30 0.24 2.83 3.54 1.34 1.65 0.23 0.30 0.19 0.45 0.30 0.45 0.42 0.37 0.09

0.00 0.50 0.00 0.05 0.22 0.04 0.01 0.03 0.04 0.03 0.16 0.21 0.37 0.28 0.03 0.38 1.17 0.92 0.09 0.11 1.65 0.03 0.10 0.08 0.16 0.05 0.02 0.03 1.19 0.90 0.08 0.09 0.11 0.14 0.19 0.11 0.17 0.17 0.42 0.33 0.61 0.20 0.06 7.51 6.99 0.03 0.04 0.07 1.85 1.50 0.60 0.12 0.09 0.09 0.07 1.24 1.53 0.07 0.24 0.00 0.10 0.14 0.45 0.16 0.14 0.27 0.19 0.04

GLOBAL MINING NEWS

(100s) Stock

Exc Volume

Eastfield Res Eco Oro Min Eco Oro Min* Edgemont Gold Edgewater Expl Edison Battery* Edison Battery El Nino Vent* El Nino Vent Elcora Adv Mat Elcora Res* Eldorado Gold* Eldorado Gold Element 29* Element79 Elevation Gold Elevation Gold* Eloro Res* Eloro Res Elysee Dev Elysee Dev * Emerita Res Emerita Res* Emgold Mining* Emgold Mining Eminent Gold Eminent Gold* EMP Metals* EMP Metals Emperor Metals EMX Royalty EMX Royalty* Encanto Potash EnCore Energy Endeavour Mng Endeavr Silver* Endeavr Silver Endurance Gold* Endurance Gold Enduro Metals Enduro Metals* Energy Fuels Energy Fuels* Engineer Gold Engineer Gold* Engold Mines Engold Mines* Entree Res* Entree Res Equinox Gold* Equinox Gold Equity Metals* Equity Metals Erdene Res Dev Erdene Res Dev* Erin Ventures* Erin Ventures Ero Copper Ero Copper* Eros Res Corp* Eros Res Corp Eros Res Corp Eskay Mng Eskay Mng* Essex Minerals Essex Minerals* Ethos Gold* Ethos Gold Etruscus Res* Etruscus Res Euro Manganese Euro Manganese* Euro Sun Mg Euro Sun Mg* EurOmax Res EurOmax Res* European Elect European Elect* European Metal* Evergold Evergold* Everton Res* EVI Global Grp Evrim Res Excellon Res Excellon Res* Excelsior Mng* Excelsior Mng ExGen Res Inc Exploits Disc* Fabled Silver Fabled Silver* Fairchild Gold Fairmont Res* Falco Res Falco Res * Falcon Gold Falcon Gold* Fancamp Expl Fathom Nickel* Fathom Nickel FenixOro Gold* FenixOro Gold Fidelity Min* Fidelity Min Filo Mg Corp Filo Mg Corp * Finlay Minrls FireFox Gold* FireFox Gold Firestone Vent Fireweed Zinc* Fireweed Zinc First Cobalt First Energy First Energy* First Idaho First Majestic* First Majestic First Mg Fin * First Mg Fin First Point* First Quantum First Tellur First Tellur* Fission 3.0 Fission 3.0* Fission Uran* Fission Uran Five Star Diam Five Star Diam* Fjordland Exp* Fjordland Exp Flow Metals Focus Graphite* Focus Graphite Fokus Mining Foran Mining* Foran Mining Foremost Lith* Foremost Lith Forsys Metals Fort St James Fortescue Met* Fortuna Silvr* Fortuna Silvr Fortune Bay* Fortune Bay Fortune Min* Fortune Min Forty Pillars Forum Energy* Forum Energy Fosterville Founders Metal Four Nines Fox River Res FPX Nickel Franco-Nevada* Franco-Nevada Franklin Mng* Fredonia Mg Freegold Vent Freeman Gold* Freeport McMoR* Freeport Res Fremont Gold Fresnillo plc* Frontier Lith Frontline Gold Full Metal Mnl Full Metal Mnl* Fury Gold

V 88 C 32 O 2 C 345 V 55 O 36 V 209 O 53 V 32 V 584 O 3 N 20016 T 4625 O 296 C 893 V 1905 O 252 O 352 V 770 V 88 O 7 V 5107 O 1504 O 369 V 327 V 14 O 5 O 8 C 287 C 70 V 109 X 1345 V 4254 V 4344 T 7678 N 29447 T 4169 O 25 V 304 V 899 O 676 T 6218 X 47294 V 115 O 5 V 79 O 35 O 181 T 226 X 18874 T 9403 O 1038 V 1164 T 923 O 445 O 8 V 337 T 2106 N 510 O 5 V 326 V 326 V 861 O 487 V 765 O 22 O 850 V 2696 O 76 C 62 V 202 O 12 T 576 O 120 T 22 O 20 V 1 O 6 O 138 V 1122 O 286 O 2 C 667 V 333 T 2570 X 37255 O 131 T 423 V 88 O 666 V 1930 O 508 V 29 O 204 V 1100 O 23 V 427 O 1542 V 561 O 330 C 1668 O 844 C 516 O 1 V 39 T 1286 O 81 V 290 O 424 V 464 V 4 O 68 V 277 V 3480 C 706 O 915 V 0 N 55806 T 7345 O 2561 T 3963 O 2682 T 12525 C 936 O 893 V 2793 O 940 O 2364 T 21624 V 3124 O 108 O 45 V 596 C 151 O 341 V 1354 V 467 O 81 V 2167 O 268 C 4005 T 2198 V 10 O 44 N 46000 T 7120 O 20 V 363 O 493 T 1011 C 170 O 1447 V 2058 V 652 V 154 C 158 C 1062 V 4444 N 6130 T 3788 O 3519 V 44 T 1047 O 84 N 105046 V 164 V 345 O 49 V 1363 V 468 V 32 O 3 T 932

THE NORTHERN MINER / MARCH 21—APRIL 3, 2022

Week High

Low

0.09 0.17 0.13 0.28 0.16 0.11 0.14 0.03 0.04 0.07 0.05 11.83 15.25 0.48 1.23 0.63 0.51 4.14 5.29 0.77 0.58 3.01 2.35 0.02 0.02 0.67 0.52 0.33 0.41 0.14 3.30 2.58 0.09 1.83 35.44 5.69 7.24 0.33 0.43 0.25 0.19 13.34 10.46 0.04 0.03 0.23 0.15 0.74 0.93 8.12 10.43 0.14 0.18 0.45 0.35 0.04 0.06 20.98 16.33 0.08 0.10 0.10 3.50 2.73 0.07 0.05 0.19 0.23 0.11 0.19 0.38 0.29 0.24 0.18 0.08 0.06 0.08 0.06 0.05 0.13 0.10 0.08 0.06 0.48 2.20 1.75 0.34 0.43 0.13 0.33 0.12 0.10 0.11 0.05 0.38 0.30 0.09 0.07 0.11 0.24 0.30 0.23 0.28 0.08 0.10 16.61 13.04 0.08 0.19 0.24 0.12 0.58 0.76 0.31 0.26 0.22 0.00 14.02 18.07 0.26 0.33 0.75 39.42 0.23 0.24 0.21 0.17 0.83 1.08 0.06 0.05 0.09 0.11 0.03 0.06 0.07 0.10 2.06 2.65 0.27 0.35 0.95 0.17 14.35 4.68 6.00 0.57 0.75 0.11 0.14 0.20 0.23 0.29 0.83 0.55 0.79 0.68 0.96 168.37 216.32 0.03 0.28 0.67 0.40 49.38 0.11 0.03 9.71 2.83 0.02 0.16 0.10 1.09

0.00 0.00 0.00 0.26 0.00 0.00 0.00 0.02 0.00 0.06 0.00 10.90 13.98 0.46 1.08 0.46 0.36 3.66 4.68 0.72 0.57 2.01 1.57 0.01 0.00 0.00 0.00 0.25 0.00 0.10 2.84 2.25 0.04 1.44 32.05 4.66 5.95 0.29 0.38 0.22 0.17 10.82 8.43 0.00 0.00 0.00 0.15 0.70 0.89 7.41 9.49 0.11 0.15 0.41 0.33 0.04 0.05 18.82 14.79 0.07 0.00 0.00 3.10 2.45 0.05 0.05 0.14 0.19 0.09 0.00 0.35 0.28 0.20 0.16 0.00 0.06 0.00 0.00 0.05 0.11 0.09 0.03 0.05 0.45 1.08 0.80 0.32 0.41 0.00 0.27 0.10 0.07 0.00 0.04 0.30 0.22 0.00 0.06 0.10 0.18 0.20 0.16 0.24 0.08 0.00 15.08 11.78 0.00 0.16 0.21 0.00 0.48 0.61 0.29 0.23 0.17 0.00 12.02 15.33 0.23 0.29 0.55 36.77 0.20 0.15 0.17 0.13 0.68 0.88 0.00 0.03 0.07 0.10 0.03 0.05 0.06 0.09 1.76 2.23 0.24 0.31 0.86 0.00 13.13 4.02 5.13 0.48 0.00 0.11 0.13 0.15 0.20 0.26 0.66 0.00 0.68 0.50 0.73 154.19 198.66 0.01 0.00 0.57 0.36 44.90 0.00 0.03 9.45 2.55 0.00 0.00 0.10 0.87

Last

12-month Change

0.08 0.12 0.09 0.28 0.16 + 0.09 0.12 0.02 0.04 + 0.07 + 0.05 + 11.40 + 14.55 + 0.47 + 1.19 + 0.53 0.40 4.02 + 5.12 + 0.75 + 0.57 2.63 + 2.06 + 0.01 0.02 unch 0.66 unch 0.52 0.25 + 0.41 + 0.12 + 2.87 2.28 0.09 + 1.66 + 33.09 5.57 + 7.10 + 0.31 + 0.39 + 0.23 0.18 12.20 + 9.58 + 0.04 + 0.03 + 0.23 + 0.15 unch 0.71 + 0.91 unch 7.92 + 10.08 + 0.13 + 0.17 + 0.43 unch 0.34 + 0.04 unch 0.06 unch 18.93 14.82 0.07 0.09 0.09 3.24 + 2.49 0.06 0.05 unch 0.15 0.19 0.11 unch 0.17 + 0.37 0.28 0.20 0.16 + 0.07 0.06 + 0.08 + 0.06 + 0.05 unch 0.12 + 0.10 + 0.07 + 0.06 unch 0.47 + 1.71 + 1.38 + 0.33 + 0.42 + 0.11 0.30 + 0.11 unch 0.09 0.10 0.05 0.37 + 0.30 + 0.09 + 0.07 + 0.11 + 0.23 + 0.29 + 0.22 + 0.26 unch 0.08 unch 0.09 16.43 12.83 0.08 + 0.18 0.23 0.12 0.55 + 0.66 0.30 + 0.23 0.19 + 0.09 unch 13.39 + 17.06 + 0.24 + 0.31 unch 0.57 + 38.44 0.21 unch 0.17 0.19 + 0.15 + 0.76 + 0.96 + 0.05 + 0.04 + 0.07 0.11 + 0.03 unch 0.05 0.07 0.09 1.97 + 2.49 + 0.25 + 0.32 0.88 + 0.13 13.15 4.27 + 5.44 + 0.52 0.66 0.11 + 0.14 unch 0.15 0.22 + 0.28 + 0.68 0.50 + 0.74 + 0.60 unch 0.73 + 158.05 201.49 + 0.02 0.28 0.61 + 0.39 + 46.93 0.10 0.03 + 9.56 unch 2.73 + 0.02 + 0.16 + 0.10 + 0.91 +

0.01 0.06 0.03 0.01 0.02 0.02 0.03 0.01 0.01 0.01 0.00 0.01 0.05 0.00 0.12 0.16 0.13 0.09 0.15 0.01 0.01 0.31 0.24 0.00 0.00 0.00 0.02 0.01 0.04 0.02 0.24 0.17 0.03 0.24 0.77 0.84 1.06 0.02 0.02 0.01 0.01 1.84 1.39 0.01 0.00 0.01 0.00 0.02 0.00 0.08 0.11 0.01 0.02 0.00 0.00 0.00 0.00 1.49 1.24 0.01 0.01 0.01 0.05 0.02 0.02 0.00 0.03 0.05 0.00 0.04 0.04 0.04 0.01 0.00 0.01 0.00 0.01 0.02 0.00 0.01 0.02 0.05 0.00 0.02 0.58 0.51 0.01 0.01 0.02 0.01 0.00 0.00 0.02 0.00 0.08 0.07 0.01 0.01 0.01 0.08 0.09 0.01 0.00 0.00 0.02 0.10 0.14 0.01 0.01 0.01 0.03 0.03 0.04 0.01 0.03 0.01 0.00 1.17 1.51 0.00 0.00 0.03 0.05 0.00 0.00 0.02 0.02 0.06 0.08 0.01 0.01 0.02 0.01 0.00 0.00 0.01 0.01 0.09 0.12 0.00 0.01 0.02 0.01 0.85 0.20 0.26 0.01 0.07 0.00 0.00 0.07 0.02 0.02 0.04 0.05 0.04 0.00 0.03 0.19 0.16 0.00 0.03 0.02 0.02 3.18 0.01 0.01 0.00 0.01 0.01 0.01 0.01 0.04

(100s)

High Low

Stock

0.10 0.20 0.16 0.30 0.25 1.00 0.24 0.05 0.05 0.15 0.12 12.37 15.42 0.59 1.65 2.64 2.20 4.63 5.40 0.88 0.74 4.14 3.35 0.07 0.09 1.05 1.00 0.42 1.02 0.29 4.45 3.67 0.08 2.27 35.94 7.76 9.32 0.37 0.45 0.29 0.24 14.33 11.39 0.08 0.51 0.55 0.30 0.90 1.12 9.55 11.49 0.24 0.30 0.50 0.41 0.16 0.20 29.76 22.30 0.10 0.12 0.12 3.55 2.93 0.25 0.14 0.50 0.60 0.30 0.38 0.72 0.68 0.47 0.39 0.12 0.08 0.27 0.20 0.20 0.43 0.44 0.42 0.12 0.58 4.41 3.57 0.77 0.89 0.14 1.35 0.21 0.17 0.20 0.62 0.48 0.40 0.13 0.15 0.17 0.44 0.88 0.36 0.40 0.11 0.14 16.84 13.21 0.20 0.35 0.40 0.30 0.75 0.97 0.43 0.62 0.32 0.10 18.93 22.73 0.42 0.50 0.75 39.42 0.71 1.00 0.30 0.24 1.00 1.25 0.07 0.05 0.14 0.18 0.07 0.16 0.19 0.22 2.42 3.09 0.42 0.44 1.30 0.50 19.55 7.98 9.97 0.88 1.05 0.22 0.27 0.76 0.47 0.56 1.77 0.57 0.79 0.73 0.96 168.37 216.32 0.15 0.37 0.89 0.45 50.46 0.25 0.06 13.65 3.05 0.04 0.65 0.57 1.78

Fury Gold* Fuse Cobalt* Fuse Cobalt

X O V

G2 Goldfields* G2 Goldfields Gabriel Res Gabriel Res* Galane Gold Galane Gold * Galantas Gold* Galantas Gold Galiano Gold Galiano Gold* Galleon Gold* Galleon Gold Galore Res Galway Gold * Galway Gold Galway Mtls* Galway Mtls Gambier Gold Gambier Gold* Garibaldi Res * Garibaldi Res Gatling Explor Gatling Explor* Gatos Silver Gatos Silver* GCM Mining* GCM Mining General Gold Generation Min Generation Min* Generic Gold* Generic Gold Genesis Mtls* Genesis Mtls Gensource Pot Gentor Res Gentor Res* Geomega Res* Geomega Res Getchell Gold * Getchell Gold Getty Copper GFG Resources GFG Resources* GFM Res GGL Res GGL Res* GGX Gold Giga Metals* Giga Metals Gitennes Expl Gitennes Expl * Giyani Gold* Giyani Gold GK Resources Glacier Lake Gladiator Met Glen Eagle Res* Glen Eagle Res Glencore Plc * Glencore Plc* Global Atomic* Global Atomic Global Battery Global Battery* Global Energy* Global Energy Global Li-Ion Global Li-Ion* GlobalMin Vent* Globex Mng Globex Mng* GMV Minerals* GMV Minerals GNCC Capital* Go Cobalt* Go Cobalt GobiMin GoGold Res Golcap Res Gold Basin Res* Gold Bull Res Gold Bull Res* Gold Fields* Gold Fields* Gold Finder Ex Gold Finder Ex* Gold Hunter Rs Gold Line Res Gold Lion Res* Gold Lion Res Gold Mountain Gold Mountain* Gold Port Gold Reserve* Gold Reserve Gold Resource* Gold Royalty* Gold State Res Gold State Res* Gold Std Vents Gold Std Vents* Gold’n Futures Gold79 Mines Gold79 Mines* Goldbank Mng Goldbank Mng* Goldcliff Res* Goldcliff Res Golden Arrow Golden Arrow* Golden Dawn Ml* Golden Dawn Ml Golden Goliath* Golden Goliath Golden Harp* Golden Harp Golden Hope Golden Hope* Golden Indepen Golden Indepe* Golden Lake Golden Mnls* Golden Mnls Golden Pursuit Golden Ridge Golden Secret Golden Share Golden Spike Golden Star* Golden Tag Golden Tag* Goldex Res* Goldex Res Goldflare Expl Goldgroup Mng Goldgroup Mng* GoldHaven Res* Goldhills Hldg GoldMining GoldON Res GoldON Res* Goldplay Min GoldQuest Mng Goldrea Res Goldrea Res* Goldrich Mng* Goldseek Res Goldshore Res* Goldshore Res Goldsource Min* Goldsource Min Goldstar Mnls* Goldstar Mnls Goliath Res* Goliath Res Gossan Res GoviEx Uranium* GoviEx Uranium Gowest Gold* Gowest Gold GPM Metals GR Silver* GR Silver Granada Gold* Granada Gold Grande Portage* Grande Portage

0.06 0.05 0.04 0.13 0.15 0.01 0.05 0.02 0.03 0.05 0.04 7.46 9.52 0.28 0.67 0.46 0.36 2.40 3.06 0.53 0.42 0.21 0.18 0.01 0.02 0.42 0.43 0.09 0.22 0.08 2.35 1.85 0.04 0.95 23.50 3.35 4.28 0.15 0.19 0.17 0.13 5.55 4.32 0.03 0.02 0.20 0.15 0.55 0.69 5.47 6.99 0.07 0.09 0.33 0.26 0.04 0.05 15.01 11.76 0.05 0.08 0.08 1.92 1.57 0.06 0.05 0.14 0.18 0.07 0.10 0.35 0.28 0.18 0.14 0.05 0.04 0.06 0.04 0.04 0.11 0.02 0.00 0.05 0.29 0.76 0.61 0.29 0.36 0.08 0.26 0.07 0.05 0.10 0.00 0.22 0.15 0.06 0.04 0.09 0.13 0.15 0.14 0.15 0.06 0.05 2.44 1.97 0.06 0.13 0.16 0.11 0.39 0.50 0.26 0.14 0.12 0.07 9.29 11.87 0.20 0.26 0.05 20.67 0.05 0.02 0.08 0.06 0.35 0.45 0.03 0.03 0.05 0.07 0.03 0.04 0.06 0.08 0.71 0.81 0.07 0.10 0.49 0.12 10.25 2.91 3.77 0.00 0.52 0.07 0.10 0.15 0.11 0.15 0.62 0.26 0.43 0.25 0.42 110.21 145.38 0.01 0.13 0.32 0.23 29.45 0.10 0.02 8.35 0.69 0.02 0.11 0.02 0.75

Exc Volume

Week High

Low

2427 267 307

0.84 0.05 0.07

0.68 0.05 0.06

O 226 V 1110 V 1052 O 73 V 1169 O 925 O 228 V 396 T 922 X 5762 O 882 V 144 V 21 O 22 V 13 O 217 V 2190 V 962 O 305 O 348 V 988 V 2346 O 254 T 665 N 7970 O 290 T 2689 C 1 T 6157 O 498 O 1 C 43 O 17 V 1222 V 2413 V 5 O 21 O 90 V 401 O 371 C 477 V 14 V 403 O 751 V 0 V 125 O 50 V 6 O 2274 V 3383 V 244 O 10 O 40 V 362 V 6 V 57 V 0 O 71 V 604 O 84 O 3296 O 1521 T 3707 V 318 O 228 O 27 V 58 C 143 O 59 O 1 T 232 O 57 O 306 V 378 O 423459 O 1 C 4 V 2 T 5333 C 36 O 1 V 944 O 336 O 0 N 68054 V 1661 O 426 C 5 V 686 O 68 C 62 T 1118 O 456 C 357 O 346 V 470 X 17620 X 4196 V 79 O 11 T 1469 X 6871 C 636 V 1030 O 153 V 59 O 0 O 53 V 199 V 176 O 290 O 3 V 87 O 73 V 119 O 4 V 1 V 128 O 12 C 722 O 474 C 863 X 9799 T 465 V 281 V 46 V 793 V 66 C 51 O 0 V 1536 O 658 O 56 V 95 V 646 T 147 O 245 O 672 V 35 T 3670 V 165 O 29 V 80 V 2834 C 252 O 81 O 698 C 221 O 284 V 887 O 12 V 169 O 3 V 8 O 342 V 703 V 660 O 1364 V 8370 O 3 V 33 V 167 O 2564 V 5326 O 333 V 1820 O 1487 V 1504

0.57 0.74 0.20 0.15 0.15 0.12 0.49 0.62 0.84 0.67 0.05 0.70 0.03 0.14 0.15 0.40 0.52 0.06 0.08 0.35 0.46 0.38 0.31 6.27 4.90 4.77 6.13 0.27 1.09 0.86 0.18 0.28 0.10 0.13 0.46 0.14 0.11 0.22 0.29 0.41 0.53 0.06 0.22 0.18 0.00 0.17 0.13 0.14 0.37 0.47 0.06 0.04 0.30 0.35 0.23 0.16 0.00 0.05 0.07 5.99 11.91 4.07 5.10 0.16 0.13 0.20 0.27 0.07 0.06 0.06 1.37 1.08 0.17 0.21 0.00 0.22 0.30 0.22 3.64 0.10 0.24 0.20 0.16 0.00 17.20 0.11 0.10 0.37 0.13 0.06 0.08 1.48 1.16 0.11 1.10 1.46 2.50 4.16 0.06 0.05 0.66 0.52 0.07 0.08 0.05 0.12 0.00 0.10 0.13 0.18 0.14 0.13 0.17 0.04 0.05 0.16 0.20 0.23 0.17 0.13 0.13 0.16 0.63 0.81 0.19 0.17 3.76 0.13 0.34 0.00 0.36 0.28 0.05 0.07 0.10 0.04 0.03 0.17 0.24 2.59 0.22 0.64 0.15 0.35 0.04 0.03 0.06 0.12 0.47 0.60 0.68 0.85 0.20 0.06 0.84 1.07 0.21 0.38 0.47 0.14 0.18 0.10 0.29 0.37 0.06 0.08 0.53 0.69

Last

12-month Change

0.73 + 0.05 + 0.06 unch

0.06 0.00 0.00

0.42 0.48 + 0.55 0.60 + 0.18 0.18 unch 0.14 0.15 + 0.14 0.15 0.11 0.11 0.41 0.46 + 0.52 0.57 + 0.77 0.81 + 0.60 0.63 + 0.04 0.04 unch 0.54 0.54 0.00 0.03 + 0.09 0.09 0.00 0.15 0.36 0.37 0.46 0.47 0.04 0.05 0.03 0.03 0.29 0.31 + 0.37 0.39 + 0.25 0.37 + 0.20 0.29 + 5.01 5.90 + 3.92 4.63 + 4.45 4.76 + 5.66 6.05 + 0.00 0.27 + 0.93 1.04 + 0.72 0.83 + 0.18 0.18 unch 0.26 0.27 0.09 0.10 + 0.12 0.13 + 0.38 0.40 0.00 0.14 + 0.11 0.11 unch 0.21 0.22 + 0.26 0.27 0.36 0.38 + 0.46 0.49 + 0.00 0.06 + 0.19 0.20 0.15 0.16 0.00 0.09 unch 0.00 0.14 0.13 0.13 unch 0.00 0.14 + 0.27 0.30 + 0.34 0.38 + 0.00 0.05 0.04 0.04 0.00 0.27 + 0.28 0.31 + 0.00 0.23 + 0.00 0.15 0.00 0.36 unch 0.04 0.04 0.05 0.07 + 5.67 5.99 unch 11.40 11.91 unch 3.50 3.70 + 4.48 4.73 + 0.14 0.14 0.11 0.11 0.19 0.20 + 0.00 0.25 unch 0.00 0.07 0.05 0.05 + 0.06 0.06 unch 1.24 1.37 + 0.97 1.06 + 0.14 0.16 + 0.18 0.20 + 0.00 0.00 unch 0.22 0.22 + 0.00 0.30 0.00 0.22 3.17 3.38 + 0.09 0.09 0.21 0.24 + 0.18 0.18 + 0.13 0.14 unch 0.00 13.25 unch 15.35 16.67 + 0.09 0.09 0.07 0.07 0.37 0.37 unch 0.11 0.12 unch 0.06 0.06 unch 0.07 0.07 1.32 1.43 + 1.03 1.13 + 0.10 0.11 + 0.61 0.69 0.85 0.85 1.98 2.23 + 3.61 3.75 0.00 0.06 + 0.05 0.05 unch 0.56 0.61 + 0.44 0.48 + 0.00 0.05 0.06 0.07 + 0.04 0.05 + 0.00 0.08 0.00 0.09 unch 0.07 0.10 + 0.00 0.11 + 0.16 0.16 0.12 0.14 + 0.13 0.13 unch 0.00 0.15 0.00 0.03 0.00 0.05 unch 0.16 0.16 + 0.00 0.20 + 0.20 0.21 0.00 0.17 0.10 0.11 + 0.06 0.09 + 0.14 0.15 0.50 0.60 + 0.64 0.76 + 0.15 0.18 + 0.00 0.17 + 2.91 3.68 + 0.00 0.13 unch 0.25 0.30 0.00 1.75 unch 0.29 0.32 + 0.22 0.26 + 0.05 0.05 0.00 0.07 + 0.08 0.08 0.03 0.03 0.02 0.03 + 0.13 0.17 + 0.00 0.22 2.30 2.39 + 0.20 0.21 + 0.12 0.15 + 0.00 0.14 unch 0.26 0.32 0.00 0.04 unch 0.03 0.03 + 0.05 0.06 + 0.10 0.11 0.42 0.44 + 0.54 0.56 + 0.61 0.65 + 0.78 0.81 unch 0.20 0.20 unch 0.00 0.06 0.73 0.78 + 0.92 0.99 + 0.15 0.20 + 0.30 0.33 + 0.39 0.43 + 0.14 0.14 unch 0.00 0.18 + 0.00 0.10 0.21 0.21 0.26 0.27 0.05 0.06 + 0.06 0.07 + 0.45 0.53 + 0.58 0.67 +

0.06 0.06 0.00 0.01 0.01 0.00 0.03 0.03 0.05 0.04 0.00 0.02 0.01 0.05 0.01 0.02 0.03 0.01 0.05 0.01 0.01 0.12 0.07 1.00 0.79 0.25 0.33 0.02 0.08 0.06 0.00 0.02 0.01 0.01 0.01 0.07 0.00 0.01 0.01 0.01 0.02 0.01 0.01 0.01 0.00 0.01 0.00 0.02 0.03 0.04 0.01 0.01 0.04 0.01 0.03 0.01 0.00 0.01 0.02 0.00 0.00 0.23 0.34 0.02 0.01 0.00 0.00 0.01 0.00 0.00 0.04 0.04 0.01 0.01 0.00 0.07 0.05 0.03 0.06 0.01 0.03 0.01 0.00 0.00 1.15 0.03 0.02 0.00 0.00 0.00 0.02 0.03 0.02 0.01 0.36 0.48 0.28 0.27 0.01 0.00 0.02 0.02 0.02 0.01 0.01 0.02 0.00 0.01 0.02 0.02 0.01 0.00 0.02 0.00 0.00 0.00 0.05 0.02 0.03 0.01 0.00 0.01 0.10 0.13 0.01 0.03 0.21 0.00 0.05 0.00 0.03 0.02 0.00 0.01 0.02 0.01 0.00 0.00 0.01 0.01 0.01 0.00 0.00 0.02 0.00 0.00 0.01 0.01 0.00 0.02 0.02 0.00 0.00 0.01 0.03 0.03 0.05 0.04 0.05 0.00 0.01 0.01 0.06 0.08 0.01 0.01 0.07 0.09

High Low 1.47 0.57 0.12 0.04 0.15 0.06

G-H 0.57 0.74 0.34 0.29 0.29 0.25 0.78 0.94 1.73 1.41 1.17 1.40 0.03 0.19 0.27 0.91 1.10 0.36 0.29 0.47 0.55 0.52 0.42 24.93 20.26 5.03 6.30 0.63 1.23 1.02 0.67 0.80 0.18 0.22 0.48 0.14 0.11 0.44 0.54 0.63 0.81 0.11 0.22 0.18 0.15 0.22 0.19 0.21 0.50 0.62 0.12 0.09 0.62 0.78 0.30 0.40 0.44 0.13 0.18 6.00 11.91 4.07 5.10 0.67 0.54 0.28 0.35 0.20 0.16 0.70 1.49 1.24 0.36 0.45 0.00 1.33 0.85 0.37 3.79 0.42 0.39 0.61 0.53 13.74 17.20 0.23 0.23 0.60 0.54 0.20 0.24 3.12 2.65 0.20 1.79 2.22 3.11 7.08 0.21 0.17 0.86 0.69 0.18 0.10 0.10 0.19 0.10 0.11 0.14 0.21 0.20 0.24 0.31 0.10 0.12 0.40 0.22 0.44 0.35 0.34 0.28 0.49 0.83 1.00 0.20 0.41 5.44 0.18 0.49 3.49 0.49 0.42 0.56 0.10 0.20 0.08 0.06 0.51 0.33 2.59 0.45 0.64 0.20 0.36 0.06 0.05 0.10 0.30 1.75 0.98 1.12 1.41 0.20 0.21 1.31 1.62 0.35 0.47 0.59 0.30 0.38 0.15 0.68 0.82 0.17 0.22 0.65 0.78

0.28 0.35 0.17 0.12 0.10 0.08 0.25 0.27 0.71 0.56 0.34 0.45 0.02 0.08 0.10 0.35 0.45 0.04 0.01 0.05 0.21 0.20 0.15 3.45 2.68 3.37 4.50 0.16 0.57 0.45 0.18 0.21 0.06 0.08 0.20 0.07 0.06 0.18 0.23 0.34 0.43 0.03 0.12 0.10 0.07 0.10 0.08 0.10 0.20 0.26 0.04 0.02 0.18 0.28 0.14 0.11 0.28 0.04 0.05 3.58 7.20 1.67 2.07 0.13 0.10 0.12 0.16 0.07 0.01 0.01 0.73 0.59 0.10 0.13 0.00 0.09 0.14 0.19 2.04 0.08 0.02 0.17 0.13 7.88 7.75 0.06 0.04 0.28 0.09 0.04 0.07 1.11 0.86 0.10 0.61 0.85 1.50 3.61 0.04 0.03 0.48 0.37 0.05 0.05 0.04 0.07 0.09 0.05 0.07 0.15 0.11 0.08 0.11 0.00 0.04 0.16 0.14 0.20 0.16 0.08 0.05 0.12 0.31 0.41 0.10 0.12 2.91 0.10 0.25 1.15 0.20 0.16 0.00 0.06 0.04 0.03 0.02 0.13 0.14 1.27 0.15 0.00 0.12 0.11 0.03 0.02 0.03 0.10 0.26 0.44 0.55 0.73 0.05 0.06 0.49 0.60 0.11 0.15 0.19 0.01 0.11 0.07 0.19 0.24 0.05 0.06 0.21 0.27

(100s) Stock

Exc Volume

Week High

Low

Last

0.14 0.11 0.38 1.25 1.57 0.82 1.05 0.28 0.00 0.00 21.86 0.25 0.32 0.04 0.00 0.06 0.07 0.00 0.00 0.00 0.23 0.04 0.58 0.00 0.14 0.18 0.05 0.07 0.00 0.13 0.31 0.39 0.00 0.45 0.58 0.00 0.09 0.10 0.48 0.00 0.00 0.00 0.25 0.21 0.00 0.00 0.20 4.76 0.18 0.15 0.02 0.00 0.06 0.21 0.16 6.52 0.44 0.55 0.71 0.00 0.00 0.00 0.00 0.00 1.15 0.90 0.14 0.10 0.00 0.19 0.00 1.60 0.00 0.07 0.05 0.05 0.11 7.67 9.85 0.06 0.05 0.00 0.00 0.00 3.30 2.56

0.16 0.12 0.40 1.32 1.68 0.85 1.09 0.32 0.23 28.15 22.43 0.34 0.44 0.07 0.11 0.07 0.08 0.05 0.20 0.12 0.28 0.05 0.65 1.95 0.18 0.22 0.06 0.07 0.15 0.14 0.34 0.43 0.17 0.47 0.60 0.07 0.11 0.14 0.50 0.65 0.13 0.04 0.30 0.22 0.17 0.04 0.24 5.24 0.19 0.15 0.02 0.02 0.07 0.23 0.18 6.86 0.53 0.68 0.85 0.15 0.17 0.04 0.02 0.35 1.35 1.06 0.15 0.11 0.24 0.19 11.25 1.74 0.20 0.08 0.05 0.05 0.12 8.43 10.73 0.06 0.05 0.02 0.04 0.03 3.75 2.93

Granite Creek Granite Creek* Graphano Egy Graphite One* Graphite One Gratomic* Gratomic Graycliff Exp Great Atlantic Great Bear Res Great Bear Res* Great Panther* Great Panther Great Quest Fe Green Battery Green River* Green River Green Swan Cap Green Valley M Greencastle Rs Greenhawk Res Greenland M&En* Greenland Res Greenshield Ex Grid Metals* Grid Metals Grizzly Discvr* Grizzly Discvr Grosvenor Res Group Eleven Group Ten Mtls* Group Ten Mtls GSP Resource Guanajuato Sil* Guanajuato Sil Guardian Exp Gungnir Res* Gungnir Res Gunpoint Expl* Gunpoint Expl Guyana Goldstr Hanna Capital Hannan Metals Hannan Metals* Hanstone Gold Happy Ck Mnrls Harfang Explor Harmony Gold* Harvest Gold Harvest Gold* Hawkeye Gld&Di* Hawkeye Gld&Di Hawkmoon Res Headwater Gold Headwater Gold* Hecla Mining* Heliostar Met* Heliostar Met Hemcare Health* Hemlo Expl* Hemlo Expl HFX Holding Highbank Res Highbury Proj HighGold HighGold* Highland Copp Highland Copp* Highway 50 Gld Highway 50 Gld* Highwood Asset Hochschild Mg* Homerun Res Honey Badger Honey Badger* Horizonte Mnls* Horizonte Mnls HudBay Min* HudBay Min Hudson Res Hudson Res* Hunt Mng* Hunt Mng Hylands Intl i-80 Gold i-80 Gold*

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

664 650 58 194 165 260 2513 509 102 0 30 79156 5046 5902 232 12 1795 404 9 85 268 1066 549 0 2491 3740 1741 1143 1 95 2499 2440 169 1603 3291 54 403 3197 18 18 0 0 264 171 42 454 415 65982 381 107 9 399 427 127 44 73353 697 415 85 0 24 0 0 0 586 737 495 547 49 4 0 432 0 489 109 215 5665 12003 9072 565 173 3 784 0 3864 385

0.16 0.12 0.43 1.49 1.82 0.93 1.20 0.33 0.27 0.00 22.50 0.38 0.48 0.09 0.11 0.07 0.09 0.05 0.25 0.13 0.29 0.05 0.67 0.00 0.18 0.23 0.07 0.08 0.15 0.14 0.38 0.48 0.17 0.56 0.72 0.07 0.13 0.18 0.50 0.65 0.00 0.00 0.30 0.23 0.17 0.04 0.24 5.50 0.20 0.15 0.02 0.02 0.07 0.23 0.18 7.66 0.54 0.68 0.89 0.00 0.17 0.00 0.00 0.00 1.45 1.14 0.15 0.12 0.24 0.19 11.25 2.00 0.00 0.08 0.07 0.06 0.13 8.75 11.17 0.07 0.05 0.02 0.04 0.00 3.81 2.99

I-Minerals* I-Minerals IAMGOLD IAMGOLD* Icon Explor* Iconic Mnls Iconic Mnls * Idaho Champion Idaho Champion* IEMR Res iMetal Res* iMetal Res IMPACT Silver Impala Platnm* Imperial Metal Imperial Metal* Imperial Mg Gr* Imperial Mg Gr Inca One Gold* Inca One Gold Inception Mng * Independence G Independence G* Indigo Expl Infield Min Infinite Ore Infinite Ore* Inflection Res Inomin Mines Intact Gold Integra Res Integra Res* Inter-Rock Mnl Interconnect Intercontinent* Intercontinent Interra Copper Interra Copper* Intl Battery Intl Bethl Mng Intl Iconic* Intl Iconic Intl Lithium Intl Lithium* Intl Prospect Intl Prospect * Intl Star* Intl Tower Hil* Intl Tower Hil Intl Zeolite* Intl Zeolite Intrepid Pots* Inventus Mg * Inventus Mg InZinc Mining InZinc Mining* Ion Energy* Ion Energy Irving Res Irving Res* IsoEnergy Ltd Itafos* Itafos Itoco Inc* Ivanhoe Mines* Ivanhoe Mines Ivor Explor Jade Leader Jaeger Res Jaguar Mng* Jaguar Mng Japan Gold Japan Gold* Jasper Mining Jaxon Mining* Jaxon Mining Jayden Res Jazz Res Jervois Mining Jervois Mining* Josemaria Res Joshua Gold* Jourdan Res Jubilee Gold Juggernaut Exp*

O 16 V 18 T 11321 N 59726 O 7 V 534 O 326 C 594 O 985 V 6 O 108 V 199 V 1151 O 1 T 136 O 44 O 43 V 610 O 76 V 44 O 4682 V 321 O 102 V 58 V 204 V 1473 O 61 C 363 V 244 V 23 V 926 X 3531 V 2 V 0 O 0 V 0 C 541 O 435 C 152 V 0 O 115 V 21 V 736 O 621 V 84 O 57 O 123689 X 1233 T 134 O 21 V 347 N 4702 O 380 V 268 V 101 O 44 O 21 V 89 C 131 O 177 V 1074 O 163 V 732 O 100 O 1243 T 14053 C 15 V 275 V 0 O 214 T 715 V 148 O 126 V 2 O 13 V 568 V 9 V 67 V 522 O 1493 T 2623 O 101 V 751 V 6 O 53

0.01 0.03 4.52 3.54 0.03 0.19 0.15 0.08 0.06 0.03 0.14 0.17 0.67 17.54 4.24 3.25 0.13 0.16 0.28 0.38 0.01 0.12 0.08 0.06 0.05 0.12 0.09 0.11 0.12 0.05 2.05 1.61 0.58 0.00 0.00 0.00 0.06 0.05 4.68 0.00 0.03 0.05 0.10 0.08 0.15 0.13 0.01 1.19 1.48 0.16 0.21 87.64 0.12 0.17 0.07 0.05 0.29 0.38 1.37 1.06 5.74 1.98 2.56 0.13 9.64 11.89 0.38 0.06 0.00 4.41 5.61 0.31 0.25 0.08 0.03 0.04 0.43 0.76 0.75 0.63 1.86 0.01 0.06 0.83 0.12

V O V O V V V O V V O V V O V O V V V V O V V V N V O O V C C O N O V O O V V V V V O V O V O V O V V O O T N T V O O V V T O

12-month Change

High Low

unch + + + + unch unch + + + + + unch + + unch + unch + + + + unch + + + + + + + + unch unch + + + unch + + + + unch + + + + + + + unch unch unch unch unch + + + + unch unch + + unch unch unch + + + unch + +

0.00 0.00 0.01 0.07 0.08 0.04 0.05 0.03 0.04 0.00 0.00 0.09 0.12 0.03 0.01 0.01 0.01 0.00 0.04 0.02 0.02 0.00 0.04 0.00 0.03 0.04 0.00 0.01 0.00 0.01 0.04 0.05 0.01 0.07 0.07 0.02 0.02 0.04 0.00 0.10 0.00 0.00 0.05 0.02 0.01 0.00 0.02 0.15 0.01 0.00 0.00 0.00 0.01 0.03 0.01 0.02 0.08 0.13 0.01 0.00 0.00 0.00 0.00 0.00 0.21 0.16 0.01 0.00 0.00 0.00 0.25 0.15 0.00 0.00 0.00 0.02 0.00 0.25 0.33 0.01 0.00 0.00 0.01 0.00 0.47 0.36

0.29 0.24 1.20 2.00 2.54 1.51 1.80 2.86 0.84 29.39 24.02 0.90 1.08 0.17 0.43 0.07 0.09 0.08 1.38 0.20 0.35 0.17 0.77 1.98 0.23 0.27 0.07 0.08 0.17 0.18 0.42 0.51 0.50 0.70 0.74 0.20 0.25 0.32 0.56 0.75 0.20 0.16 0.62 0.49 0.53 0.10 0.50 5.76 0.24 0.19 0.04 0.05 0.20 0.65 0.27 9.44 1.47 1.81 2.32 0.39 0.53 0.11 0.03 0.35 2.08 1.65 0.17 0.13 0.47 0.37 19.00 3.00 0.21 0.15 0.16 0.15 0.18 9.60 11.62 0.25 0.21 0.23 0.13 0.04 3.81 2.99

0.14 0.10 0.27 0.70 0.89 0.76 0.95 0.20 0.21 12.80 10.08 0.16 0.24 0.03 0.09 0.04 0.05 0.05 0.20 0.10 0.06 0.04 0.30 0.16 0.07 0.09 0.02 0.03 0.14 0.09 0.22 0.27 0.15 0.29 0.36 0.05 0.03 0.04 0.43 0.55 0.10 0.03 0.22 0.16 0.15 0.03 0.20 3.00 0.10 0.00 0.01 0.01 0.06 0.14 0.11 4.50 0.40 0.50 0.50 0.13 0.16 0.03 0.01 0.20 0.98 0.79 0.08 0.06 0.18 0.18 4.72 1.30 0.04 0.06 0.04 0.05 0.10 5.22 6.70 0.06 0.04 0.02 0.03 0.03 2.26 1.88

0.01 0.01 unch 0.00 0.02 4.05 4.31 + 3.14 3.39 + 0.03 0.03 0.14 0.14 unch 0.11 0.12 + 0.06 0.07 unch 0.05 0.06 + 0.00 0.03 + 0.12 0.12 + 0.14 0.16 + 0.59 0.60 + 17.54 17.54 unch 3.98 4.08 3.11 3.23 0.11 0.13 + 0.14 0.16 + 0.25 0.28 + 0.00 0.35 unch 0.00 0.01 + 0.00 0.12 + 0.08 0.08 + 0.00 0.05 0.00 0.05 + 0.10 0.11 0.08 0.08 0.08 0.11 + 0.00 0.12 + 0.00 0.05 + 1.84 1.90 unch 1.43 1.51 0.00 0.58 0.00 0.08 unch 0.00 0.07 unch 0.00 0.10 unch 0.04 0.04 0.03 0.03 4.01 4.68 + 0.00 0.03 unch 0.03 0.03 0.00 0.05 unch 0.09 0.09 0.06 0.07 0.00 0.15 0.09 0.10 0.00 0.00 0.95 1.00 1.21 1.24 0.00 0.16 + 0.17 0.20 + 60.41 84.19 + 0.12 0.12 unch 0.14 0.15 0.06 0.06 0.04 0.04 0.27 0.29 0.35 0.37 1.20 1.25 0.94 0.99 4.61 5.32 + 1.48 1.87 + 1.88 2.33 + 0.10 0.13 + 8.24 8.44 10.55 10.73 0.38 0.38 unch 0.00 0.06 unch 0.00 0.03 unch 3.90 4.00 + 4.75 5.10 + 0.30 0.30 unch 0.23 0.24 + 0.00 0.08 unch 0.02 0.02 0.00 0.04 0.00 0.43 + 0.75 0.75 0.70 0.71 0.52 0.56 1.75 1.77 0.01 0.01 0.05 0.05 0.00 0.83 0.11 0.12 -

0.00 0.01 0.06 0.06 0.00 0.00 0.01 0.00 0.00 0.01 0.00 0.01 0.03 0.00 0.16 0.00 0.02 0.02 0.01 0.00 0.00 0.02 0.01 0.01 0.01 0.01 0.01 0.03 0.03 0.01 0.00 0.01 0.06 0.00 0.00 0.00 0.01 0.01 0.31 0.00 0.01 0.00 0.01 0.00 0.01 0.02 0.00 0.04 0.05 0.02 0.01 13.63 0.00 0.01 0.01 0.00 0.02 0.01 0.03 0.01 0.76 0.02 0.01 0.01 0.79 0.99 0.00 0.00 0.00 0.06 0.10 0.00 0.01 0.00 0.00 0.01 0.05 0.03 0.01 0.01 0.07 0.00 0.01 0.04 0.00

0.05 0.06 4.62 3.85 0.10 0.37 0.30 0.23 0.20 0.04 0.57 0.68 0.87 21.00 5.95 4.92 0.20 0.23 0.42 0.45 0.05 0.19 0.15 0.11 0.42 0.28 0.21 0.43 0.16 0.09 4.19 3.48 0.65 0.10 0.20 0.24 0.30 0.23 5.13 0.12 0.13 0.16 0.14 0.11 0.25 0.40 0.02 1.40 1.75 0.24 0.33 84.39 0.19 0.26 0.09 0.05 0.79 0.59 2.35 1.93 6.61 1.98 2.56 0.35 10.32 13.15 0.40 0.11 0.06 6.06 7.64 0.43 0.32 0.21 0.08 0.09 1.05 0.99 0.75 0.63 1.86 0.14 0.11 0.87 0.41

0.01 0.02 2.75 2.16 0.00 0.13 0.10 0.04 0.04 0.02 0.10 0.14 0.42 10.38 2.95 2.27 0.09 0.11 0.16 0.29 0.00 0.05 0.04 0.05 0.04 0.06 0.04 0.08 0.08 0.03 1.82 1.41 0.40 0.08 0.06 0.10 0.05 0.03 0.38 0.03 0.03 0.04 0.05 0.03 0.10 0.08 0.00 0.62 0.79 0.08 0.11 22.82 0.11 0.13 0.03 0.01 0.26 0.32 0.92 0.72 1.95 0.88 0.61 0.02 4.96 6.27 0.30 0.05 0.02 2.79 3.70 0.25 0.19 0.07 0.02 0.04 0.33 0.24 0.40 0.25 0.67 0.01 0.03 0.59 0.11

I-J-K

(100s) Stock

Exc Volume

Week

21

12-month

High

Low

Last

0.15 1.05 0.21 0.21 6.97 8.92 0.24 0.36 0.19 0.92 0.55 1.35 0.45 5.39 0.00 0.08 0.11 0.82 0.02 0.14 0.10 0.08 0.16 0.09 0.11 0.13 0.04 0.05 0.19 0.24 0.04 0.09 0.11 7.49 5.81 0.16 0.95 0.68 0.16 0.20 0.06 0.08 1.56 0.39 0.52 0.19 0.24 0.09 0.42 0.33 0.59 1.25 0.97 0.04 0.03

0.14 0.00 0.19 0.19 6.13 7.86 0.21 0.00 0.16 0.85 0.38 0.75 0.00 4.46 0.00 0.00 0.00 0.72 0.00 0.09 0.09 0.07 0.00 0.09 0.10 0.00 0.03 0.04 0.16 0.20 0.00 0.00 0.00 6.81 5.33 0.13 0.78 0.00 0.15 0.18 0.05 0.00 1.21 0.35 0.44 0.13 0.20 0.05 0.34 0.27 0.50 1.14 0.90 0.04 0.03

0.14 1.05 0.20 0.20 6.60 8.39 0.24 0.36 0.18 0.88 0.42 1.16 0.26 5.10 0.00 0.08 0.11 0.78 0.02 0.10 0.09 0.08 0.16 0.09 0.10 0.13 0.03 0.04 0.16 0.21 0.04 0.06 0.09 7.18 5.63 0.16 0.79 0.68 0.15 0.19 0.06 0.07 1.47 0.37 0.48 0.18 0.22 0.08 0.34 0.27 0.51 1.21 0.96 0.04 0.03

+ + + + + + unch unch unch + unch + + + unch + + + + + + unch + + + + + + + + + + + -

0.01 0.15 0.03 0.01 0.01 0.01 0.03 0.05 0.01 0.06 0.04 0.09 0.11 0.34 0.00 0.00 0.00 0.06 0.00 0.02 0.02 0.01 0.06 0.00 0.01 0.01 0.01 0.01 0.01 0.02 0.01 0.03 0.03 0.20 0.15 0.01 0.01 0.04 0.00 0.00 0.01 0.01 0.24 0.01 0.01 0.03 0.03 0.01 0.03 0.02 0.09 0.06 0.04 0.01 0.00

0.52 2.00 0.46 0.66 7.60 9.36 0.40 0.85 0.59 1.25 0.75 1.35 0.94 5.39 0.02 0.32 0.45 1.50 0.06 0.26 0.21 0.24 0.50 0.44 0.56 0.35 0.09 0.12 2.38 0.80 0.24 0.17 0.20 10.06 8.34 0.24 1.10 2.40 0.22 0.27 0.12 0.12 1.94 0.48 0.61 0.30 0.37 0.28 1.22 0.99 0.93 2.80 2.27 0.05 0.04

0.14 0.31 0.16 0.10 4.42 5.75 0.15 0.25 0.16 0.70 0.10 0.12 0.36 2.35 0.00 0.06 0.11 0.65 0.02 0.08 0.06 0.06 0.10 0.01 0.08 0.11 0.03 0.04 0.15 0.20 0.03 0.06 0.11 6.32 4.90 0.09 0.07 0.08 0.11 0.14 0.00 0.05 0.80 0.10 0.24 0.10 0.16 0.05 0.33 0.26 0.34 0.76 0.60 0.02 0.00

0.69 0.88 0.09 37.25 47.23 0.70 0.54 0.70 0.00 11.53 14.71 0.00 0.00 0.00 0.10 0.86 0.00 0.53 0.40 2.10 0.12 0.00 0.27 0.35 0.10 0.12 0.09 1.45 0.37 0.48 0.79 0.00 0.26 0.00 0.00 1.20 0.94 30.49 23.72 0.85 0.66 0.23 0.13 0.00 0.42 0.10 0.11 0.00 0.00 0.06 0.04 0.47 0.58 0.05 16.80 13.16 0.00 0.08 0.59 0.00 0.06 0.18 0.00 0.43 0.56 0.41 10.63 9.69 12.32 0.00 0.00 6.90 6.83

0.73 0.95 0.12 39.24 49.91 0.93 0.68 0.83 0.01 13.81 17.59 0.09 0.07 0.14 0.10 1.07 0.81 0.57 0.45 2.20 0.13 0.03 0.31 0.39 0.13 0.12 0.10 1.60 0.42 0.54 0.81 0.40 0.27 0.09 0.10 1.20 0.95 34.32 26.94 0.90 0.71 0.24 0.13 0.18 0.47 0.11 0.16 0.03 0.30 0.07 0.05 0.47 0.59 0.05 17.49 13.72 0.11 0.08 0.65 0.05 0.06 0.18 0.29 0.46 0.59 0.42 11.26 9.71 12.37 0.03 0.04 7.52 7.48

+ + + + + + + + unch + + + + + + unch unch + + + + + + unch + + + + + + + + + unch + + + + + + unch + + + + unch unch -

0.06 0.08 0.01 0.09 0.07 0.19 0.14 0.11 0.00 2.15 2.75 0.01 0.00 0.02 0.01 0.05 0.02 0.03 0.02 0.07 0.00 0.00 0.03 0.03 0.02 0.01 0.01 0.15 0.03 0.06 0.08 0.00 0.02 0.01 0.01 0.02 0.01 2.75 2.12 0.08 0.08 0.03 0.02 0.02 0.03 0.01 0.04 0.01 0.00 0.01 0.00 0.01 0.03 0.00 0.12 0.06 0.01 0.02 0.05 0.00 0.00 0.10 0.04 0.02 0.03 0.01 0.32 0.51 0.64 0.00 0.00 0.29 0.37

1.50 1.85 0.43 42.40 51.00 0.95 0.85 1.12 0.03 18.71 22.96 0.20 0.16 0.19 0.16 1.14 0.92 0.72 0.57 6.57 0.34 0.36 1.47 1.00 0.16 0.50 0.65 3.75 0.73 0.89 1.50 0.80 0.41 0.12 0.25 1.48 1.19 53.09 41.56 1.21 0.95 0.67 0.41 0.29 0.90 0.14 0.18 0.28 0.37 0.22 0.18 0.97 1.16 4.20 17.50 13.73 0.60 0.27 0.87 0.54 0.15 0.80 0.80 0.71 0.90 0.94 12.93 13.11 16.07 0.07 0.08 8.35 8.43

0.24 0.30 0.02 26.61 33.33 0.16 0.48 0.37 0.00 7.39 9.39 0.08 0.06 0.10 0.09 0.19 0.14 0.19 0.15 1.91 0.12 0.00 0.22 0.31 0.10 0.09 0.07 0.76 0.27 0.34 0.66 0.33 0.22 0.05 0.09 0.97 0.77 14.46 11.84 0.26 0.21 0.18 0.01 0.08 0.29 0.06 0.06 0.03 0.21 0.06 0.04 0.39 0.49 0.04 6.50 5.11 0.11 0.08 0.50 0.04 0.05 0.18 0.25 0.39 0.50 0.35 8.82 6.66 8.56 0.00 0.03 3.92 4.00

0.28 0.30 + 0.00 0.38 + 0.02 0.03 0.00 0.04 0.00 0.03 unch 0.00 0.06 22.17 22.54 + 0.00 0.29 0.71 0.78 + 0.51 0.62 + 0.44 0.54 + 0.00 0.11 0.00 0.05 + 0.07 0.08 0.00 0.06 unch 0.10 0.12 + 0.05 0.05 0.00 0.07 + 0.25 0.26 0.35 0.38 + 0.27 0.30 + 0.00 0.08 + 0.05 0.05 2.30 2.56 + 2.84 3.25 + 0.28 0.30 + 0.22 0.23 0.00 0.06 0.05 0.06 0.05 0.05 unch 0.00 0.08 unch 0.08 0.08 0.15 0.18 + 0.13 0.14 + 0.27 0.28 + 0.34 0.36 + 2.20 2.28 2.80 2.91 0.00 0.27 + 2.94 3.06 -

0.01 0.02 0.01 0.01 0.00 0.01 0.02 0.01 0.06 0.06 0.12 0.03 0.01 0.01 0.00 0.02 0.00 0.01 0.02 0.03 0.02 0.01 0.01 0.31 0.34 0.01 0.00 0.01 0.01 0.00 0.00 0.01 0.04 0.03 0.01 0.01 0.14 0.16 0.03 0.24

0.50 0.60 0.06 0.07 0.03 0.15 29.28 1.40 1.13 1.12 0.65 0.20 0.18 0.08 0.07 2.00 0.40 0.50 1.46 0.44 0.39 0.21 0.39 3.00 3.68 0.64 0.54 0.10 0.13 0.10 0.11 0.34 0.57 0.50 0.42 0.49 3.00 3.73 1.30 4.55

0.22 0.28 0.02 0.03 0.03 0.05 16.74 0.23 0.69 0.51 0.30 0.10 0.04 0.05 0.03 0.01 0.04 0.05 0.25 0.29 0.22 0.07 0.01 1.43 1.82 0.22 0.18 0.05 0.05 0.04 0.08 0.07 0.13 0.09 0.19 0.24 1.68 2.13 0.18 2.70

Juggernaut Exp Jupiter Gold* K2 Gold K9 Gold* K92 Mining* K92 Mining Kainantu Res Kaizen Discov Kalo Gold Kanadario Gold Karam Min Karnalyte Res Karoo Expl Karora Res* KAT Expl* Kenadyr Metals* Kenadyr Metals Kenorland Min Kermode Res Kesselrun Res Kesselrun Res* Kestrel Gold KGL Resources KGL Resources* Kincora Copper* Kincora Copper King Global* King Global Kingfisher Met* Kingfisher Met Kingman Min Kings Bay Res Kingsmen Res Kinross Gold Kinross Gold* Kintavar Exp Kiplin Metals Kiplin Metals* Klondike Gold* Klondike Gold Klondike Silv* Klondike Silv Kodiak Copper* Kombat Copper* Kombat Copper Kootenay Silvr* Kootenay Silvr Kootenay Zinc Kore Mining Kore Mining * Kutcho Copper * Kuya Silver Kuya Silver* KWG Res KWG Res*

V 268 O 2 V 262 O 140 O 663 T 4284 V 223 V 1220 V 70 V 674 C 1966 T 2263 V 5 O 547 O 25936 O 2 V 26 V 103 V 195 V 1482 O 224 V 523 V 7 O 4 O 6 V 242 O 202 V 912 O 173 V 681 V 284 V 237 V 62 T 34699 N 138184 V 124 V 362 O 1 O 76 V 161 O 782 V 2328 O 241 O 198 V 5466 O 993 V 2604 C 1888 V 570 O 633 O 177 C 298 O 269 C 1900 O 142

Labrador Gold* Labrador Gold Labrador IMH* Labrador IOR* Labrador IOR Lake Resources* Lara Expl Laramide Res Laredo Res* Largo Res* Largo Res Lasalle Explor Lasalle Explor* Latin Metals Latin Metals* Laurion Mnl Ex Laurion Mnl Ex* Leading Edge Leading Edge* Leeta Gold Legion Metals Leo Res* Leocor Gold* Leocor Gold Leopard Lake Leviathan Gold Leviathan Gold* Li-Metal Libero Copper* Libero Copper Liberty Gold* Liberty One Li Lido Minerals Lightspeed Dis Lincoln Mng Lion One Mtls Lion One Mtls* Lithium Amer Lithium Amer* Lithium Chile Lithium Chile* Lithium Corp* Lithium Energi* Lithium Energi Lithium South* Lithoquest Res* Lithoquest Res Lode-Star Mg* Logan Res Lomiko Mtls Lomiko Mtls* Loncor Res* Loncor Res Lone Star Gold* Los Andes Los Andes* Lovitt Res Lovitt Res* Lucara Diam Lucky Min* Lucky Min Luckystrike * Luckystrike Lumina Gold* Lumina Gold Luminex Res Lundin Gold Lundin Mng* Lundin Mng Lupaka Gold * Lupaka Gold Lynas Corp* Lynas Corp*

O V O O T O V T O D T V O V O V O V O V C O O C C V O C O V O V C V V V O T N V O O O V O O V O V V O O T O V O V O T O V O V O V V T O T O V O O

873 1438 224 94 2305 5370 109 3522 561 1729 1124 356 0 61 22 998 9 359 290 8796 1348 0 331 135 170 639 26 65 273 370 2067 0 98 1 41 388 507 5519 21159 5622 4866 801 24 47 424 265 817 80 0 1078 572 235 257 68 67 17 82 123 1036 13 904 72 109 310 613 196 3401 302 12217 0 22 558 671

0.82 1.06 0.14 41.25 51.00 0.95 0.68 0.95 0.01 14.27 18.20 0.09 0.00 0.14 0.11 1.09 0.85 0.65 0.50 2.50 0.15 0.00 0.37 0.43 0.14 0.15 0.10 1.80 0.42 0.54 0.94 0.00 0.28 0.09 0.10 1.28 1.00 37.20 29.30 1.02 0.81 0.31 0.15 0.22 0.49 0.12 0.16 0.03 0.00 0.07 0.05 0.50 0.66 0.06 17.73 13.73 0.12 0.10 0.69 0.05 0.06 0.25 0.32 0.48 0.61 0.43 11.54 10.47 13.42 0.00 0.04 7.66 7.65

Macarthur Min* Macarthur Min MacDonald Mns* MacDonald Mns Madeira Mrnls Madoro Metals MAG Silver Magellan Gold* Magna Gold Magna Gold* Magna Mining Magna Terra Magnum Goldco Majestic Gold Majestic Gold* Major Precious* Makara Mining* Makara Mining Makena Res* Mako Mining Mako Mining* Mammoth Res Mammoth Res * Mandalay Res* Mandalay Res Manganese X Manganese X* Mangazeya Mng Manitou Gold Manitou Gold * Manning Vent* Manning Vent Mantaro Prec Mantaro Prec* Maple Gold* Maple Gold Marathon Gold* Marathon Gold Margaret Lake Marimaca Cop*

O V O V V V T O V O V V V V O O O C O V O V O O T V O V V O O C V O O V O T V O

58 157 343 1561 0 236 1446 94 1054 612 1058 26 316 1461 40 26 169 449 195 1867 945 26 133 48 284 414 257 413 797 59 0 2371 1066 145 1295 1472 327 3036 20 9

0.30 0.39 0.03 0.04 0.00 0.07 25.16 0.35 0.84 0.67 0.54 0.14 0.05 0.08 0.06 0.12 0.06 0.07 0.28 0.39 0.31 0.08 0.08 2.56 3.30 0.30 0.24 0.07 0.07 0.05 0.00 0.10 0.19 0.15 0.31 0.38 2.50 3.21 0.27 3.25

Change

High Low

L

M

22

WWW.NORTHERNMINER.COM

MARCH 21—APRIL 3, 2022 / THE NORTHERN MINER

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

Exc Volume

Marimaca Cop Maritime Res Martina Mnls MartinMarietta* Marvel Discov* Marvel Discov Mas Gold Mascota Res* Masivo Silver Masivo Silver* Mason Graphite Mason Graphite* Matachewan Con Matica Ent Maverix Metals Maverix Metals* Mawson Res* Mawson Res MAX Res MaxTech Vent MaxTech Vent* Maxwell Res* Mayfair Gold* Mayfair Gold Mazarin McChip Res McEwen Mng McEwen Mng* McLaren Res MDN Inc* Mechel* Medallion Res Medallion Res* Medaro Mining Medaro Mining* Medgold Res* Medgold Res Medinah Mnrls* Mega Copper Mega Uranium Mega Uranium* MegaWatt Lith* MegaWatt Lith MegumaGold MegumaGold* Melkior Res* Melkior Res Meridian Mg Meridian Mg * Metal Energy MetalCorp* MetalCorp Metalex Vent Metalex Vent * Metallic Mnrls Metallic Mnrls* Metallica Met* Metallica Met Metallica Min* Metallis Res Metallum Res Metalo Manuf Metalore Res Metals Creek* Metals Creek Metals X* Metron Capital Mexican Gold* MGX Minerals Midasco Cap Midland Expl Midnight Star Midnight Sun* Midnight Sun Millbank Mg MillenMin Vent Millennial Pr Millennial Pr* Millennium Sil Millrock Res* Millrock Res Milner Con Slv Minaurum Gold Minaurum Gold* Minco Silver* Minco Silver Minera Alamos * Minera Alamos Minera IRL* Minera IRL Mineral Hill Mineral Mtn Mineral Mtn* Mineral Res* Mineworx Tech* Mineworx Tech Minfocus Expl Minnova Corp Minsud Res Mirasol Res Mistango River Mkango Res ML Gold Corp Monarca Mnrls* Monarca Mnrls Monarch Min* Monarch Mining Moneta Porcpn Moneta Porcpn* Mongoose Mg Monitor Vent Montage Gold Montage Gold* Montego Res Monterey Min Montero Mg&Ex Montero Mg&Ex * Monument Mng Monument Mng* Monumental Min Morien Res* Morien Res Mosaic* Mosaic Min Mountain Boy* Mountain Boy Mountain Prov Mountain Prov* MPV Explor Mundoro Cap Mundoro Cap* Murchison Min* Murchison Min Musk Metals Musk Metals* Muzhu Mining

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

90 1343 29 2016 1084 1409 306 1 29 90 526 200 13 64 856 2969 382 900 2889 23 86 0 14 494 27 2 2825 19831 391 19 3601 193 406 601 931 10 141 8309 23 7017 1118 190 230 342 458 11 61 2112 94 1103 5 181 127 1000 1239 884 6 71 3 115 1527 16 3 441 368 365 144 163 18 1 194 422 215 197 0 0 2631 1338 207 488 810 0 1920 1555 71 217 4598 4177 164 410 0 640 144 3 127 621 20 365 0 188 710 47 42 388 656 146 236 464 233 30 4 419 205 2 3 329 215 665 137 625 1174 941 89745 120 42 396 6177 578 467 352 89 590 1540 300 74 85

NACCO Ind* Namibia Crit Namibia Crit* Natural Res Pt* Navis Res Corp* NEO Battery NEO Battery* Neometals* Network Expl Network Expl* Nevada Canyon* Nevada Copper* Nevada Copper Nevada Expl * Nevada Expl Nevada King* Nevada King Nevada Lithium Nevada Lithiu* Nevada Silver Nevada Sunrise Nevada Sunrise* Nevada Zinc Nevado Res NevGold NevGold* New Age Metals New Age Metals*

N V O N O V O O V O O O T O V O V C O V V O V V V O V O

302 135 194 199 1 597 242 73 325 19 1 447 2204 961 516 644 1795 688 226 182 128 263 164 2 527 45 3430 1765

Week High

Low

Last

12-month Change

4.25 3.66 3.90 0.14 0.13 0.14 + 0.07 0.00 0.07 unch 377.71 359.75 370.88 0.11 0.07 0.10 + 0.12 0.10 0.12 + 0.11 0.10 0.10 2.75 0.00 2.63 + 0.07 0.00 0.07 unch 0.06 0.05 0.05 + 0.53 0.42 0.51 + 0.41 0.33 0.39 + 0.23 0.00 0.23 + 0.37 0.26 0.32 6.88 6.24 6.38 + 5.38 4.90 5.04 + 0.11 0.10 0.11 + 0.14 0.13 0.14 + 0.46 0.37 0.42 + 0.07 0.00 0.07 0.06 0.05 0.06 0.00 0.00 0.07 unch 1.02 0.00 1.02 + 1.30 1.16 1.28 + 0.18 0.00 0.18 + 0.83 0.00 0.83 + 1.25 1.05 1.13 + 0.98 0.83 0.89 + 0.08 0.00 0.07 + 0.26 0.24 0.24 2.42 2.21 2.25 unch 0.11 0.11 0.11 0.09 0.08 0.09 + 0.73 0.68 0.68 0.57 0.48 0.54 0.02 0.01 0.01 0.02 0.00 0.02 + 0.00 0.00 0.00 unch 0.16 0.00 0.16 unch 0.38 0.33 0.37 + 0.30 0.25 0.30 + 0.13 0.10 0.12 + 0.16 0.14 0.15 unch 0.04 0.03 0.04 unch 0.03 0.03 0.03 unch 0.22 0.21 0.21 0.31 0.27 0.30 1.13 0.95 1.00 0.92 0.76 0.78 + 0.19 0.13 0.14 + 0.02 0.02 0.02 unch 0.05 0.04 0.05 unch 0.04 0.00 0.04 unch 0.02 0.02 0.02 unch 0.48 0.41 0.42 unch 0.38 0.32 0.33 + 0.08 0.00 0.08 + 0.09 0.09 0.09 + 0.02 0.02 0.02 + 0.29 0.24 0.25 0.11 0.08 0.09 unch 0.15 0.00 0.13 2.80 0.00 2.80 + 0.11 0.09 0.10 unch 0.13 0.11 0.13 + 0.50 0.43 0.45 0.28 0.26 0.27 + 0.04 0.03 0.04 + 0.05 0.05 0.05 unch 0.00 0.00 0.10 unch 0.53 0.47 0.47 0.38 0.35 0.36 unch 0.21 0.18 0.18 0.25 0.00 0.23 0.00 0.00 0.50 unch 0.00 0.00 0.05 unch 0.59 0.46 0.54 + 0.48 0.36 0.43 + 0.01 0.00 0.01 unch 0.05 0.04 0.05 0.06 0.05 0.06 + 0.00 0.00 0.11 unch 0.45 0.39 0.40 unch 0.36 0.30 0.32 + 0.29 0.00 0.26 + 0.36 0.31 0.31 unch 0.50 0.44 0.46 + 0.64 0.58 0.58 unch 0.07 0.07 0.07 0.09 0.09 0.09 unch 0.00 0.00 0.26 unch 0.16 0.00 0.15 unch 0.13 0.12 0.12 + 35.46 0.00 35.22 + 0.06 0.00 0.06 + 0.08 0.07 0.07 0.42 0.39 0.39 0.15 0.11 0.15 + 0.00 0.00 0.26 unch 0.59 0.00 0.58 + 0.08 0.07 0.08 + 0.46 0.00 0.44 + 0.09 0.00 0.08 0.03 0.02 0.02 0.04 0.03 0.03 unch 0.56 0.51 0.54 + 0.71 0.65 0.69 + 2.46 2.17 2.28 1.92 1.72 1.79 0.25 0.23 0.23 0.14 0.00 0.14 + 0.82 0.75 0.79 + 0.66 0.59 0.62 + 0.00 0.00 0.02 unch 0.65 0.00 0.65 + 0.08 0.06 0.07 + 0.11 0.01 0.06 + 0.12 0.10 0.10 0.08 0.07 0.08 + 0.59 0.40 0.53 + 0.47 0.22 0.23 0.56 0.28 0.29 64.71 52.90 61.92 + 0.09 0.07 0.08 + 0.13 0.12 0.13 0.18 0.16 0.17 0.86 0.74 0.85 + 0.67 0.59 0.66 + 0.19 0.16 0.18 0.18 0.16 0.18 + 0.15 0.14 0.14 + 0.10 0.08 0.10 + 0.12 0.10 0.12 0.06 0.00 0.06 0.06 0.00 0.04 0.14 0.12 0.13 -

High Low

0.23 5.85 3.24 0.01 0.24 0.12 0.00 0.07 0.07 4.05 446.46 312.42 0.01 0.20 0.05 0.02 0.22 0.07 0.01 0.18 0.09 0.02 3.45 1.10 0.00 0.25 0.06 0.00 0.12 0.04 0.09 0.78 0.40 0.05 0.65 0.32 0.06 0.27 0.16 0.02 1.80 0.26 0.11 7.70 5.04 0.14 6.40 3.91 0.00 0.26 0.09 0.01 0.33 0.12 0.05 0.46 0.14 0.01 0.40 0.06 0.00 0.30 0.04 0.00 1.26 0.01 0.10 2.06 0.40 0.07 2.15 0.49 0.05 0.20 0.08 0.11 1.45 0.57 0.09 2.07 0.94 0.09 1.71 0.73 0.01 0.10 0.04 0.02 0.85 0.21 0.00 5.19 1.58 0.01 0.52 0.08 0.00 0.43 0.06 0.02 1.43 0.45 0.00 1.81 0.32 0.01 0.05 0.01 0.01 0.06 0.02 0.00 0.01 0.00 0.00 0.17 0.14 0.04 0.42 0.18 0.03 0.34 0.14 0.00 0.40 0.07 0.00 0.47 0.08 0.00 0.11 0.03 0.00 0.09 0.02 0.01 0.57 0.20 0.01 0.74 0.24 0.19 1.34 0.34 0.01 1.08 0.27 0.01 0.25 0.10 0.00 0.05 0.01 0.00 0.07 0.03 0.00 0.11 0.02 0.00 0.09 0.02 0.00 0.75 0.32 0.00 0.61 0.25 0.02 0.33 0.07 0.01 0.45 0.08 0.00 0.04 0.02 0.01 0.57 0.19 0.00 0.20 0.07 0.01 0.69 0.12 0.17 3.33 2.15 0.00 0.20 0.09 0.01 0.23 0.11 0.03 0.50 0.15 0.01 0.40 0.19 0.01 0.13 0.02 0.00 0.16 0.04 0.00 0.12 0.10 0.06 0.91 0.46 0.00 0.57 0.25 0.03 0.40 0.00 0.01 0.42 0.23 0.00 0.60 0.40 0.00 0.05 0.05 0.09 0.74 0.30 0.07 0.94 0.27 0.00 0.03 0.01 0.00 0.09 0.04 0.01 0.11 0.05 0.00 0.11 0.07 0.00 0.51 0.23 0.01 0.46 0.17 0.02 0.52 0.24 0.00 0.58 0.30 0.01 0.63 0.37 0.00 0.73 0.49 0.00 0.13 0.01 0.00 0.16 0.07 0.00 0.30 0.13 0.00 0.27 0.10 0.00 0.21 0.08 1.42 48.27 27.13 0.00 0.08 0.04 0.01 0.11 0.05 0.04 0.43 0.16 0.02 0.36 0.11 0.00 0.37 0.04 0.02 0.69 0.31 0.01 0.23 0.06 0.04 0.70 0.31 0.01 0.15 0.08 0.00 0.13 0.02 0.00 0.16 0.03 0.02 0.88 0.49 0.02 1.02 0.62 0.02 2.61 1.55 0.01 1.92 1.25 0.01 0.50 0.19 0.01 0.36 0.10 0.01 1.02 0.58 0.01 0.85 0.45 0.00 0.05 0.02 0.03 2.00 0.21 0.01 0.80 0.06 0.02 0.86 0.01 0.01 0.21 0.10 0.01 0.16 0.01 0.13 0.79 0.27 0.15 0.51 0.11 0.19 0.64 0.16 2.09 64.71 28.26 0.02 0.19 0.06 0.00 0.19 0.11 0.01 0.24 0.15 0.05 0.88 0.40 0.05 0.69 0.32 0.01 0.85 0.16 0.01 0.35 0.16 0.02 0.27 0.13 0.01 0.15 0.05 0.01 0.17 0.06 0.01 0.17 0.05 0.01 0.12 0.00 0.01 0.21 0.11

N-O 31.98 0.24 0.19 40.46 0.36 0.31 0.26 0.94 0.24 0.19 0.83 0.57 0.71 0.06 0.08 0.33 0.41 0.28 0.40 0.32 0.07 0.05 0.07 0.11 0.57 0.55 0.14 0.11

28.66 29.88 0.21 0.23 0.17 0.17 37.61 38.96 + 0.31 0.31 0.28 0.30 0.22 0.24 0.92 0.92 unch 0.20 0.21 0.16 0.18 + 0.83 0.83 + 0.51 0.53 0.65 0.69 0.05 0.06 + 0.07 0.08 + 0.29 0.29 0.37 0.38 0.23 0.25 0.18 0.20 0.28 0.29 unch 0.00 0.06 + 0.04 0.05 + 0.00 0.06 + 0.00 0.11 unch 0.50 0.51 unch 0.40 0.43 + 0.10 0.13 + 0.08 0.10 +

0.79 0.01 0.01 0.73 0.05 0.01 0.01 0.00 0.01 0.03 0.01 0.02 0.01 0.01 0.02 0.01 0.01 0.02 0.02 0.00 0.01 0.00 0.01 0.00 0.00 0.03 0.03 0.02

44.00 0.43 0.40 40.48 3.50 1.31 1.21 1.31 1.68 1.35 1.07 0.99 3.15 0.17 0.22 1.50 0.84 0.78 0.75 0.60 0.13 0.11 0.18 0.19 0.65 0.58 0.21 0.17

20.05 0.20 0.15 14.22 0.30 0.14 0.11 0.25 0.19 0.15 0.32 0.39 0.49 0.04 0.06 0.23 0.27 0.23 0.18 0.22 0.05 0.04 0.05 0.10 0.34 0.27 0.09 0.06

(100s) Stock

Exc Volume

New Destiny Mg New Energy Met* New Energy Met New Found Gold New Gold New Gold* New Pac Metals New Pac Metals* New Placer* New Placer New Stratus New Target Mng New Tech Min* New Tech Min New World Res* Newcore Gold Newcore Gold* Newcrest Mg Newcrest Mg* Newlox Gold Newmac Res Newmont Corp* Newmont Corp Neworigin Gold Newport Expl NewRange Gold* NewRange Gold Nexa Resources* Nexgen Energy Nexgen Energy* NextSource Mat Nexus Gold Nexus Gold* Nfld Discovery Nfld Discovery* NGEx Minerals* NGEx Minerals Nickel 28 Nickel 28* Nickel Creek* Nickel Creek Nickel North Nickel Rock Nickel Rock* Nicola Mg Inc Nicola Mg Inc* Nighthawk Gold* Nighthawk Gold Niobay Metals Niocan Inc Niocorp Dev Niocorp Dev* Nippon Dragon Nippon Dragon* Nobel Res Nobel Res* Noble Metal Noble Mineral Noble Mineral* Noka Res* Noram Vent Noram Vent* Norilsk Nickel* Noront Res* Noront Res Norra Metals Norrland Gold Norse Gold Norseman Silv Norsemont Cap Norsemont Cap* Nortec Mnls Nortec Mnls* North Am Nickl North Arrow Mn* North Arrow Mn North Bay Res * North Peak Res* North Peak Res North Valley Northcliff Res Northern Light* Northern Light Northern Uran Northisle C&G Northisle C&G * Northstar Gold Northstar Gold* Northwest Cop* Northwest Cop Norvista Cap NorZinc NorZinc* Nouveau Monde* Nouveau Monde NovaGold Res NovaGold Res* Novo Res Nrthn Graphite* Nrthn Graphite Nrthn Lion Nrthn Mnrls &E* Nrthn Shield Nrthn Superior Nrthn Superior* NSGold NSJ Gold NSS Res Inc Nthn Dynasty Nthn Dynasty* Nubian Res* Nubian Res Nuinsco Res Nuinsco Res* NuLegacy Gold NuLegacy Gold* Nutrien* Nutrien NV Gold NV Gold* O2Gold O3 Mining OceanaGold* OceanaGold Oceanic Iron O Oceanic Iron O* Oceanus Res Oceanus Res* Odyssey Res Olivut Res* Olivut Res Omai Gold Omai Gold* Omineca Mining* Omineca Mining One World Lith* One World Lith Opawica Expl Opawica Expl* Ophir Gold Ophir Gold* Optimum Vent* Optimum Vent Optimus Gold Opus One Gold Orca Gold* Orca Gold Ord Mountain Orea Mining Orea Mining* Orefinders Res Orestone Mng Orex Mnrls* Orex Mnrls Orezone Gold* Orezone Gold Orford Mining Origen Res Original Sixtn* Orla Mining Oroco Res* Oroco Res Orsu Metals Orsu Metals* Orvana Mnrls Orvana Mnrls* Osino Res*

V 22 O 3 V 38 V 866 T 13529 X 56782 T 705 X 1123 O 726 V 5574 V 466 V 0 O 0 C 236 O 55 V 377 O 82 T 877 O 254 C 392 V 0 N 58859 T 1837 V 411 V 504 O 382 V 142 N 1394 T 14825 N 17675 T 802 V 1031 O 150 C 189 O 89 O 40 V 937 V 2545 O 527 O 3473 T 7878 V 257 V 7865 O 6908 V 668 O 58 O 55 T 1444 V 164 V 299 T 490 O 1144 V 159 O 244 V 3072 O 355 V 275 V 1731 O 181 O 12 V 329 O 241 O 17921 O 313 V 2311 V 496 V 10 V 0 V 978 C 278 O 60 V 0 O 5 V 0 O 52 V 249 O 216711 O 904 V 1041 C 90 T 7 O 185 C 956 V 1390 V 1111 O 1051 C 135 O 91 O 99 V 431 V 256 T 3286 O 577 N 349 V 219 T 1047 X 10561 T 1571 O 366 V 442 V 19 O 75 V 2380 V 121 O 75 V 125 C 78 C 580 T 3944 X 127763 O 3 V 252 C 1445 O 47 V 1356 O 482 N 40456 T 15349 V 160 O 104 V 433 V 709 O 5 T 15503 V 305 O 14 V 3110 O 1541 V 0 O 8 V 26 V 906 O 65 O 332 V 289 O 75 C 2365 V 161 O 14 V 194 O 52 O 92 V 326 V 19 V 307 O 677 V 6032 V 0 T 1350 O 906 V 3330 V 426 O 109 V 298 O 476 T 2120 V 348 C 2136 O 1400 T 5138 O 537 V 796 V 31 O 1 T 255 O 88 O 324

(100s) Stock

Week High

Low

0.05 0.09 0.10 8.50 2.46 1.93 5.58 4.35 0.11 0.13 0.64 0.00 0.00 0.07 2.20 0.56 0.44 28.00 21.30 0.24 0.00 80.75 103.71 0.09 0.47 0.06 0.08 10.15 7.57 5.93 4.09 0.03 0.02 0.33 0.26 2.00 2.60 1.61 1.30 0.13 0.16 0.05 0.23 0.18 0.11 0.09 0.73 0.94 0.33 0.12 1.29 1.02 0.02 0.02 0.22 0.18 0.01 0.16 0.13 0.33 0.78 0.67 3.74 0.85 1.08 0.07 0.13 0.00 0.26 0.90 0.70 0.00 0.03 0.00 0.09 0.12 0.00 4.60 5.85 0.10 0.04 0.03 0.04 0.04 0.44 0.35 0.17 0.13 0.56 0.72 0.07 0.05 0.04 7.09 9.12 10.14 7.89 1.18 0.56 0.71 0.31 0.10 0.03 0.79 0.61 0.41 0.10 0.05 0.65 0.51 0.11 0.16 0.02 0.02 0.04 0.03 102.25 130.46 0.15 0.12 0.05 2.47 2.20 2.90 0.14 0.10 0.73 0.58 0.00 0.04 0.06 0.13 0.22 0.14 0.18 0.07 0.09 0.35 0.27 0.10 0.07 0.52 0.69 0.13 0.06 0.73 0.94 0.00 0.10 0.08 0.06 0.06 0.08 0.09 1.27 1.62 0.18 0.20 1.10 6.29 1.58 1.95 0.20 0.17 0.53 0.42 1.06

0.00 0.06 0.00 7.75 2.21 1.73 4.61 3.62 0.08 0.11 0.00 0.00 0.00 0.05 1.75 0.50 0.40 23.94 19.37 0.22 0.00 72.80 93.79 0.00 0.45 0.05 0.00 8.85 6.53 5.09 3.55 0.02 0.02 0.28 0.22 1.70 2.09 1.34 1.05 0.08 0.10 0.00 0.12 0.09 0.10 0.07 0.00 0.80 0.30 0.10 1.05 0.79 0.00 0.02 0.13 0.10 0.00 0.13 0.09 0.29 0.66 0.52 2.72 0.83 1.06 0.00 0.00 0.00 0.22 0.79 0.61 0.00 0.03 0.00 0.09 0.11 0.00 2.81 3.55 0.10 0.00 0.02 0.03 0.03 0.35 0.28 0.16 0.12 0.52 0.66 0.07 0.04 0.00 6.31 8.18 9.39 7.32 1.01 0.49 0.63 0.00 0.07 0.00 0.70 0.54 0.41 0.07 0.04 0.45 0.35 0.11 0.15 0.02 0.01 0.00 0.02 88.91 114.00 0.14 0.11 0.04 2.29 1.92 2.47 0.00 0.10 0.64 0.50 0.00 0.04 0.00 0.11 0.08 0.12 0.16 0.05 0.08 0.29 0.21 0.00 0.00 0.46 0.56 0.00 0.00 0.67 0.85 0.00 0.08 0.06 0.05 0.00 0.07 0.00 1.12 1.43 0.16 0.18 1.00 5.52 1.38 1.75 0.00 0.17 0.48 0.36 0.94

Last

12-month Change

0.04 0.06 0.10 + 7.76 2.37 + 1.83 + 4.65 3.69 0.09 0.12 0.59 0.18 unch 0.05 unch 0.05 2.12 + 0.54 + 0.43 + 24.00 + 19.37 0.23 0.29 unch 76.89 + 98.00 + 0.09 + 0.47 unch 0.06 + 0.08 + 9.34 + 7.09 + 5.58 + 3.81 0.03 unch 0.02 + 0.29 0.23 1.85 + 2.34 1.41 1.13 unch 0.11 + 0.14 + 0.05 + 0.22 + 0.17 + 0.10 + 0.08 + 0.70 + 0.88 + 0.31 0.11 1.20 + 0.94 + 0.02 unch 0.02 unch 0.22 + 0.17 + 0.01 unch 0.15 + 0.12 + 0.33 + 0.75 unch 0.58 3.02 unch 0.85 + 1.08 + 0.06 0.13 unch 0.07 unch 0.22 0.84 + 0.70 + 0.02 unch 0.03 unch 0.58 unch 0.09 + 0.11 + 0.00 + 3.80 4.86 0.10 unch 0.04 0.02 0.03 0.04 unch 0.36 0.28 0.17 + 0.13 + 0.53 + 0.68 + 0.07 + 0.04 unch 0.03 6.64 8.49 9.79 + 7.69 + 1.18 + 0.52 + 0.68 + 0.29 0.10 + 0.02 unch 0.79 + 0.60 + 0.41 unch 0.09 0.04 0.56 + 0.47 + 0.11 unch 0.15 0.02 + 0.02 unch 0.04 + 0.02 + 101.40 + 129.22 + 0.14 unch 0.11 + 0.04 2.46 + 2.20 + 2.78 + 0.14 + 0.10 0.66 0.52 0.04 unch 0.04 + 0.05 unch 0.13 + 0.11 + 0.13 0.18 + 0.07 0.09 unch 0.34 + 0.27 + 0.08 0.06 0.52 + 0.69 + 0.13 0.05 unch 0.70 + 0.89 unch 0.20 unch 0.10 + 0.08 + 0.05 unch 0.06 unch 0.07 + 0.09 unch 1.24 + 1.58 + 0.16 0.18 1.00 unch 5.94 + 1.42 + 1.79 + 0.16 0.17 unch 0.51 + 0.41 + 0.99 +

High Low

0.02 0.10 0.04 0.01 0.17 0.04 0.01 0.12 0.07 0.18 13.50 3.82 0.12 2.68 1.29 0.06 2.23 1.01 0.30 7.64 3.08 0.18 5.84 2.38 0.01 0.19 0.05 0.02 0.24 0.08 0.01 0.79 0.19 0.00 0.28 0.13 0.00 0.09 0.04 0.02 0.08 0.04 0.15 4.10 1.59 0.01 0.74 0.45 0.03 0.61 0.35 0.10 28.00 19.11 0.16 22.70 14.81 0.01 0.61 0.19 0.00 0.31 0.09 2.61 80.75 52.60 3.49 103.71 66.25 0.01 0.29 0.08 0.00 0.54 0.34 0.00 0.17 0.04 0.01 0.22 0.06 0.64 12.86 6.50 0.61 8.09 4.08 0.50 6.50 3.18 0.36 4.90 1.77 0.00 0.08 0.02 0.00 0.06 0.01 0.02 0.63 0.28 0.00 0.52 0.21 0.16 5.00 0.42 0.16 3.00 0.52 0.02 1.61 0.46 0.00 2.00 0.38 0.03 0.13 0.05 0.05 0.16 0.07 0.01 0.06 0.03 0.10 0.36 0.07 0.08 0.30 0.06 0.01 0.25 0.07 0.01 0.20 0.06 0.08 1.12 0.52 0.09 1.35 0.64 0.03 1.11 0.26 0.01 0.17 0.09 0.14 1.84 0.90 0.11 1.48 0.70 0.00 0.08 0.02 0.00 0.04 0.00 0.03 1.03 0.13 0.02 0.87 0.10 0.00 0.03 0.01 0.03 0.16 0.10 0.02 0.13 0.08 0.03 0.75 0.29 0.00 1.05 0.44 0.02 0.88 0.34 0.00 37.24 2.72 0.01 0.94 0.18 0.01 1.11 0.23 0.01 0.11 0.04 0.00 0.39 0.12 0.00 0.13 0.05 0.03 0.70 0.17 0.01 1.11 0.45 0.06 0.86 0.36 0.00 0.06 0.02 0.00 0.05 0.01 0.00 0.65 0.22 0.00 0.12 0.05 0.01 0.15 0.07 0.00 0.00 0.00 0.24 4.60 0.25 0.33 5.85 0.36 0.00 0.10 0.06 0.01 0.06 0.03 0.01 0.09 0.01 0.01 0.07 0.02 0.00 0.09 0.01 0.10 0.55 0.16 0.06 0.46 0.00 0.01 0.45 0.16 0.00 0.36 0.12 0.01 0.91 0.40 0.02 1.10 0.50 0.01 0.15 0.06 0.00 0.09 0.04 0.00 0.07 0.03 0.45 17.24 5.07 0.55 22.30 6.36 0.30 12.58 7.62 0.23 10.45 5.97 0.10 3.44 0.96 0.01 0.77 0.28 0.03 0.94 0.33 0.07 0.49 0.29 0.02 0.35 0.07 0.00 0.10 0.02 0.08 1.50 0.54 0.05 1.23 0.43 0.00 0.43 0.21 0.01 0.37 0.06 0.01 0.29 0.04 0.12 0.98 0.37 0.11 0.79 0.29 0.00 0.43 0.11 0.01 0.53 0.15 0.01 0.03 0.01 0.00 0.02 0.01 0.01 0.20 0.03 0.00 0.16 0.02 6.41 102.11 52.28 8.30 130.46 66.05 0.00 0.40 0.12 0.00 0.34 0.09 0.01 0.38 0.04 0.13 2.79 1.89 0.28 2.21 1.41 0.02 2.90 1.79 0.02 0.32 0.10 0.01 0.25 0.09 0.01 0.79 0.43 0.01 0.67 0.33 0.00 0.06 0.03 0.00 0.11 0.03 0.00 0.08 0.04 0.02 0.25 0.09 0.09 0.27 0.00 0.01 0.26 0.09 0.01 0.32 0.12 0.00 0.12 0.03 0.00 0.14 0.03 0.04 0.65 0.26 0.03 0.54 0.20 0.03 0.25 0.08 0.03 0.22 0.06 0.04 0.54 0.28 0.07 0.66 0.35 0.04 0.35 0.11 0.00 0.09 0.03 0.00 0.73 0.32 0.00 0.94 0.40 0.00 0.20 0.20 0.01 0.31 0.08 0.01 0.26 0.06 0.00 0.12 0.05 0.00 0.12 0.05 0.00 0.16 0.06 0.00 0.20 0.08 0.14 1.39 0.69 0.16 1.70 0.87 0.01 0.27 0.13 0.02 0.55 0.17 0.00 1.50 0.06 0.15 6.29 3.71 0.02 3.02 1.37 0.02 3.66 1.74 0.04 0.34 0.15 0.00 0.27 0.02 0.03 0.54 0.23 0.02 0.42 0.18 0.00 1.40 0.77

Exc Volume

Osino Res Osisko Dev* Osisko Gold* Osisko Gold Osisko Metals* Osisko Metals Osisko Mng Inc Outback Gold* Outcrop S&G Outcrop S&G* OZ Minerals*

Week Low

1.20 1.25 unch 3.40 3.49 13.28 14.30 + 17.04 18.20 + 0.30 0.30 unch 0.00 0.40 + 4.09 4.28 + 0.16 0.16 0.26 0.26 0.20 0.20 0.00 19.96 unch

V O N T O V T O V O O

912 226 6902 3602 8 300 14720 15 2799 534 0

1.38 3.67 14.57 18.59 0.30 0.41 4.47 0.17 0.31 0.25 19.96

P2 Gold* O P2 Gold V Pac Arc Res V Pac Bay Mnrls* O Pac Bay Mnrls V Pac Booker Min V Pac Booker Min* O Pac Imperial V Pac Ridge Expl V Pac Ridge Expl* O Pacific Empire* O Pacific Empire V Pacific Silk V Pacton Gold V Paladin Energy* O Palamina Corp V Palamina Corp* O Palayan Res* O Paleo Resource V Paleo Resource* O Palladium One V Palladium One* O Pampa Metals* O Pampa Metals C Pan Am Silver T Pan Am Silver* D Pan Global Res V Pan Global Res* O Pancontinental* O Pancontinental V Pangolin Dia V O Panoro Mnrls* Panoro Mnrls V Pantera Silver V PanTerra Gold* O Pantheon Vent V Para Resources V Parallel Mng V Paramount Gold* X Parlane Res V Pasinex Res C Pasofino Gold* O Pasofino Gold V Patriot Gold C Patriot Gold* O Peabody Enrgy* N Pegasus Res V Pegasus Res* O Pelangio Expl* O Pelangio Expl V Peloton Mnrls* O Peloton Mnrls C PepinNini Lith* O Perpetua Res T Perpetua Res* D Perseus Mng T Pershimex Res V Pershing Res* O Peruvian Metal V Peruvian Metal* O Petra Diamonds* O Petrolympic* O Petrolympic V Phenom Res V Phenom Res* O Philippine Mtl V Phoenix Global* O Phoenix Metals V Pine Cliff En* O T Pine Cliff En Pivit Explor C PJSC Polyus Gd* O PJX Res V Plata Latina V Platinex Inc* O Platinex Inc C Platinum Gp Mt T Platinum Gp Mt* X Plato Gold V Playfair Mng V Playfair Mng* O PNG Copper C PolyMet Mng* X PolyMet Mng T Portofino Res V Portofino Res* O Power Group V Power Group* O Power Metals* O Power Metals V PPX Mining V PPX Mining* O Precipitate Gl V Precipitate Gl* O Pretium Res* N Pretium Res T Prime Meridian V Prime Mining* O Prime Mining V Prism Res V Prismo Metals C ProAm Expl V Probe Metals* O Probe Metals V Prog Planet V Prog Planet* O Prospect Ridge C Prosper Gold V Provenance Gld C V Providence Providence Gld* O Pucara Gold V Pucara Gold* O PUF Vent Inc * O Puma Expl* O Puma Expl V Pure Alumina* O Pure Energy* O Pure Energy V Pure Gold Mg* O Pure Gold Mg V Purepoint Uran V Q-Gold Res* O Q-Gold Res V QC Copper V QC Copper* O QC Precious * O QC Precious V QcX Gold V QcX Gold* O QMC Quantum Ml* O QMC Quantum Ml V QNB Metals C Quadro Res* O Quadro Res V Quantum Batt* O Quantum Batt C Quartz Mtn Res* O Quartz Mtn Res V Quebec Nickel C Quebec Silica C Questex Gold* O Questex Gold V

154 231 0 0 0 65 55 1 526 197 13 133 0 266 15117 278 27 840 306 463 5929 2080 8 2125 5516 21121 495 133 25 287 3381 128 1015 474 0 334 712 0 91984 1328 375 15 112 23 121 95513 1808 61 88 151 116 118 2 246 1023 1062 210 414 49 23 16 31 45 626 586 0 74 98 656 3949 126 8 210 3 51 1297 1777 14530 3001 232 12 176 24688 324 1561 84 211 15 342 1279 223 13 707 1342 51364 16184 0 17 1347 24 42 0 209 431 703 34 293 223 704 199 23 118 11 37 88 825 50 556 252 1380 3288 6469 10 21 1028 749 65 755 27 2 85 126 11 180 467 0 254 4 34 3087 91 18 106

0.65 0.75 0.00 0.00 0.00 0.89 0.63 0.03 0.27 0.21 0.03 0.04 0.00 0.45 0.68 0.17 0.13 0.13 0.03 0.02 0.32 0.26 0.24 0.34 37.17 28.95 0.80 0.63 0.08 0.09 0.02 0.15 0.21 0.28 0.06 0.11 0.37 0.00 1.10 0.10 0.04 0.66 0.85 0.09 0.07 26.35 0.07 0.06 0.10 0.12 0.07 0.09 0.27 6.26 4.88 1.88 0.04 0.04 0.18 0.15 1.60 0.06 0.07 0.65 0.51 0.00 0.78 0.15 0.78 1.04 0.30 26.00 0.17 0.03 0.04 0.05 3.66 2.84 0.04 0.10 0.08 0.06 4.79 6.15 0.13 0.10 0.04 0.04 0.23 0.29 0.05 0.03 0.17 0.13 15.65 20.13 0.00 3.29 4.24 0.11 0.30 0.00 1.80 2.33 0.41 0.32 0.42 0.72 0.17 0.06 0.05 0.15 0.11 0.39 0.42 0.53 0.01 1.00 1.25 0.65 0.84 0.13 0.08 0.10 0.29 0.23 0.15 0.20 0.06 0.03 0.22 0.28 0.13 0.03 0.04 0.00 0.47 0.26 0.36 0.32 0.08 0.67 0.83

0 1017 180 125 65 17 0 0 780 611 13 79 232 1866

0.00 0.24 0.35 0.05 0.29 2.28 0.00 0.31 1.35 0.04 0.11 0.13 0.04 0.04

Last

12-month

High

Change

Stock

0.00 0.07 0.60 0.81 0.00 0.01 0.22 0.01 0.02 0.01 0.00

1.61 6.49 15.12 18.59 0.42 0.52 5.02 1.22 0.46 0.40 21.04

1.01 3.06 10.64 13.54 0.27 0.35 2.33 0.15 0.14 0.11 15.58

0.02 0.04 0.00 0.00 0.00 0.04 0.03 0.01 0.01 0.01 0.00 0.01 0.00 0.02 0.05 0.02 0.01 0.00 0.00 0.00 0.00 0.00 0.02 0.02 1.05 0.77 0.07 0.06 0.01 0.01 0.01 0.01 0.00 0.01 0.00 0.02 0.01 0.00 0.19 0.02 0.00 0.05 0.00 0.00 0.00 3.33 0.02 0.01 0.00 0.01 0.00 0.01 0.00 0.64 0.49 0.02 0.01 0.00 0.01 0.01 0.10 0.01 0.01 0.00 0.00 0.00 0.29 0.00 0.06 0.07 0.09 0.00 0.01 0.00 0.00 0.00 0.26 0.23 0.01 0.00 0.01 0.01 0.99 1.15 0.00 0.01 0.00 0.00 0.02 0.04 0.01 0.00 0.01 0.02 0.16 0.16 0.00 0.22 0.43 0.01 0.05 0.00 0.06 0.09 0.01 0.01 0.02 0.09 0.01 0.00 0.01 0.01 0.03 0.01 0.04 0.01 0.00 0.17 0.22 0.01 0.02 0.01 0.00 0.01 0.01 0.01 0.01 0.00 0.01 0.00 0.00 0.01 0.04 0.00 0.01 0.00 0.07 0.04 0.02 0.12 0.00 0.00 0.02

1.60 0.83 0.26 0.10 0.18 4.99 3.90 0.06 0.58 0.47 0.06 0.08 0.05 0.96 0.80 0.37 0.36 0.50 0.04 0.10 0.37 0.31 1.07 0.60 43.95 36.14 0.87 0.70 0.16 0.20 0.05 0.18 0.23 0.34 0.07 0.79 0.44 0.15 1.15 0.84 0.05 1.46 1.89 0.20 0.16 27.28 0.10 0.10 0.14 0.18 0.09 0.12 0.53 11.52 9.42 1.88 0.07 0.07 0.22 0.18 1.60 0.12 0.15 0.85 1.10 0.10 1.29 0.55 0.78 1.04 0.36 123.00 0.24 0.06 0.05 0.08 6.61 5.34 0.05 0.30 0.29 0.18 4.79 6.15 0.17 0.14 0.16 0.10 0.26 0.33 0.05 0.50 0.20 0.17 15.51 20.13 0.16 4.15 5.24 0.14 0.42 0.10 1.85 2.33 0.60 0.48 2.75 2.28 0.18 0.10 0.10 0.36 0.30 6.45 0.50 0.64 0.02 2.11 2.60 1.99 2.10 0.20 0.24 0.30 0.47 0.37 0.27 0.33 0.26 0.21 0.40 0.50 0.25 0.13 0.16 5.85 5.85 0.29 0.36 0.41 0.27 1.07 1.37

0.28 0.34 0.14 0.09 0.08 0.77 0.60 0.02 0.10 0.08 0.02 0.03 0.02 0.36 0.27 0.13 0.10 0.03 0.01 0.01 0.17 0.13 0.19 0.26 26.52 20.74 0.45 0.37 0.06 0.08 0.01 0.08 0.11 0.12 0.05 0.08 0.27 0.15 0.53 0.08 0.02 0.46 0.61 0.05 0.03 2.61 0.04 0.02 0.07 0.09 0.04 0.06 0.19 4.17 3.25 0.99 0.03 0.01 0.09 0.02 0.01 0.05 0.04 0.35 0.25 0.06 0.40 0.14 0.20 0.24 0.13 18.55 0.15 0.02 0.03 0.04 1.83 1.44 0.02 0.09 0.00 0.05 2.41 3.05 0.08 0.06 0.03 0.02 0.13 0.17 0.03 0.00 0.07 0.06 8.29 10.40 0.06 1.69 2.05 0.04 0.19 0.06 1.03 1.29 0.29 0.25 0.20 0.42 0.08 0.06 0.00 0.11 0.05 0.29 0.13 0.15 0.01 0.59 1.03 0.43 0.56 0.08 0.07 0.07 0.15 0.11 0.11 0.15 0.04 0.03 0.14 0.18 0.05 0.02 0.03 0.20 0.41 0.00 0.16 0.10 0.05 0.43 0.54

Red Pine Expl Regulus Res Remington Res Renforth Res* Renforth Res Resolve Vent Reunion Gold Reunion Gold* Revival Gold Revival Gold * Rex Res Reyna Silver Reyna Silver* Rhyolite Res Richmond Mnls Ridgeline Min Ridgestone M’g* Ridgestone M’g Riley Gold* Riley Gold Rio Silver Rio Silver* Rio Tinto* Rio Tinto* Rio Tinto* Rio2 Limited* Rio2 Limited Rise Gold Corp Rise Gold Corp* Riverside Res Riverside Res* RJK Explor* RJK Explor Robex Res Rochester Res* Rochester Res Rock Tech Lith* Rock Tech Lith Rockcliff Met* Rockcliff Met Rockex Mng Rockhaven Re* Rockhaven Res Rockland Res Rockridge Res Rockwealth Res Rogue Res* Rogue Res Rojo Res* Rokmaster Res* Rokmaster Res Romios Gold Rs Romios Gold Rs* RooGold* RooGold RosCan Gold* RosCan Gold Ross River Rover Metals* Rover Metals Royal Fox Gold Royal Fox Gold* Royal Gold* Royal Rd Mnrls RT Minerals* RT Minerals RTG Mining RTG Mining * Rugby Mng Running Fox Rs Rupert Res Rupert Res* Rusoro Mng Rusoro Mng*

V V V O C V V O V O V V O V V V O V O V V O O N O O V C O V O O V V O V O V O C C O V C V V O V O O V V O O C O V V O V V O D V O V T O V V V O V O

0.00 0.01 0.03 0.01 0.00 0.08 0.00 0.00 0.03 0.00 0.00 0.00 0.00 0.01

0.44 0.35 0.40 0.12 0.50 3.80 0.26 2.00 2.99 0.06 0.16 0.32 0.53 0.19

0.26 0.19 0.20 0.04 0.22 1.69 0.10 0.00 0.73 0.02 0.11 0.08 0.00 0.03

S2 Minerals Sabina Gd&Slvr* Sabina Gd&Slvr Sable Res* Sable Res Sailfish Rylty Salazar Res* Salazar Res Sama Res Sama Res* Samco Gold San Lorenzo Sanatana Res* Sanatana Res Sandfire Res Sandfire Res* Sandstorm Gold Sandstorm Gold* Santacruz Silv Sarama Res Sassy Res* Sassy Res Satori Res Satori Res* Saturn Mnrls Savannah Min Saville Res Scandium Intl* Scandium Intl Scorpio Gold Scorpio Gold * Scotch Creek Scotch Creek* Scottie Res Scottie Res* ScoZinc Mg* ScoZinc Mg Seabridge Gld Seabridge Gld* Seahawk Gold* Seahawk Gold Search Mnls Search Mnls* Searchlight* SearchlightRes Secova Metals* Secova Metals Sego Res Select Sands Sennen Potash Serabi Gold Serabi Gold* Sherritt Intl Shine Minerals Sibanye-Stillw* Sibanye-Stillw* Sidney Resrces* Sienna Res* Sienna Res Sierra Grande Sierra Grande* Sierra Madre G* Sierra Madre G Sierra Metals Sierra Metals* Sigma Lithium* Sigma Lithium Signature Res Signature Res* Silver Bear Rs* Silver Bear Rs Silver Bull Re Silver Bull Re* Silver Dollar Silver Dollar* Silver Eleph Silver Grail Silver Hammer* Silver Hammer Silver One* Silver One Silver Phoenix Silver Predatr* Silver Predatr Silver Range* Silver Range Silver Sands* Silver Sands Silver Spruce* Silver Spruce Silver Valley Silver Viper* Silver Viper Silver Wolf Silver Wolf* Silver X

C O T O V V O V V O V V O V V O T N V V O C V O V V V O T V O C O V O O V T N O C V O O V O C V V V T O T V O N O O V C O O V T X D V V O O T T O C O T V O C O V C O V O V O C O V V O V V O V

P-Q 0.55 0.69 0.00 0.00 0.00 0.77 0.60 0.00 0.24 0.18 0.03 0.00 0.00 0.39 0.53 0.15 0.00 0.11 0.00 0.01 0.26 0.20 0.00 0.29 32.76 25.56 0.72 0.57 0.07 0.00 0.00 0.14 0.19 0.23 0.00 0.08 0.31 0.00 0.66 0.08 0.04 0.58 0.00 0.00 0.00 19.93 0.06 0.00 0.09 0.00 0.00 0.08 0.27 5.20 4.07 1.64 0.00 0.03 0.00 0.13 0.00 0.05 0.00 0.54 0.43 0.00 0.47 0.15 0.69 0.88 0.20 18.55 0.00 0.00 0.04 0.04 2.93 2.29 0.02 0.00 0.07 0.00 2.65 3.46 0.11 0.08 0.00 0.00 0.19 0.24 0.00 0.02 0.13 0.09 14.95 18.86 0.00 2.98 3.75 0.00 0.30 0.00 1.64 2.09 0.38 0.00 0.37 0.62 0.15 0.06 0.05 0.00 0.08 0.29 0.38 0.48 0.01 0.59 0.83 0.59 0.75 0.11 0.07 0.00 0.26 0.20 0.13 0.17 0.00 0.03 0.18 0.23 0.00 0.03 0.00 0.00 0.41 0.22 0.00 0.18 0.00 0.62 0.76

0.55 0.69 0.20 unch 0.09 unch 0.09 unch 0.77 0.60 0.03 0.26 + 0.19 0.03 unch 0.04 0.03 unch 0.40 + 0.62 + 0.16 + 0.12 + 0.12 0.02 unch 0.02 0.26 unch 0.21 0.24 0.34 + 34.85 + 27.35 + 0.79 + 0.62 + 0.07 0.08 0.02 + 0.15 + 0.21 unch 0.25 0.06 0.10 + 0.32 + 0.15 unch 0.86 + 0.09 0.04 unch 0.63 + 0.80 unch 0.09 unch 0.06 23.02 0.07 + 0.05 0.09 + 0.10 0.06 0.08 0.27 unch 5.73 + 4.52 + 1.72 0.03 0.04 + 0.18 + 0.15 1.50 0.05 0.06 0.58 unch 0.46 0.10 unch 0.50 0.15 unch 0.75 + 0.96 + 0.21 21.00 unch 0.16 0.03 unch 0.04 0.05 unch 3.12 + 2.45 + 0.04 + 0.10 unch 0.08 + 0.06 3.61 + 4.52 + 0.12 unch 0.09 + 0.04 unch 0.04 unch 0.23 + 0.29 + 0.04 + 0.03 + 0.14 + 0.12 + 15.05 + 19.15 + 0.12 unch 2.99 3.81 0.11 + 0.30 0.07 unch 1.65 2.09 0.40 0.32 + 0.40 + 0.72 + 0.16 + 0.06 unch 0.05 + 0.14 0.11 + 0.30 0.39 0.51 0.01 unch 0.78 0.98 0.60 0.76 0.12 + 0.08 + 0.10 + 0.27 0.21 0.13 + 0.17 unch 0.06 + 0.03 unch 0.19 + 0.25 + 0.09 0.03 + 0.04 + 0.37 unch 0.45 0.22 0.32 + 0.30 + 0.08 unch 0.63 0.82 +

R Rackla Metals Radisson Mng Radius Gold Rain City Raindrop Vent Rainforest Res* Rainy Mtn Royl Rambler Metals* Rare Element* Rathdowney Res Razore Rock Res Ready Set Gold Recharge Res* Recharge Res

V V V C C O V O O V C C O V

0.00 0.21 0.00 0.05 0.29 0.00 0.00 0.31 1.11 0.00 0.11 0.00 0.02 0.03

0.41 0.22 0.32 0.05 0.29 2.20 0.18 0.31 1.16 0.04 0.11 0.13 0.03 0.04

unch + unch unch unch + unch unch unch + +

(100s)

High Low

Exc Volume

Week High

Low

549 314 2 625 1573 388 2173 449 395 288 48 412 645 66 47 700 1324 390 151 75 854 250 14 32669 14 1871 1945 120 229 566 1363 57 328 277 340 1 38 106 142 536 16 28 1037 237 449 192 12 140 383 138 582 960 1307 8 1809 468 2122 0 184 1236 706 121 4113 755 404 527 239 360 460 1 217 35 2342 1103

0.47 1.07 0.17 0.06 0.07 0.09 0.30 0.24 0.73 0.56 0.14 0.80 0.63 0.64 0.05 0.38 0.03 0.04 0.21 0.26 0.07 0.06 80.20 81.46 92.00 0.67 0.85 0.81 0.64 0.17 0.13 0.11 0.13 0.33 0.05 0.00 3.75 4.82 0.05 0.07 0.04 0.12 0.12 0.17 0.11 0.32 0.07 0.10 0.42 0.21 0.27 0.06 0.04 0.14 0.20 0.33 0.41 0.00 0.04 0.05 0.05 0.04 138.70 0.30 0.03 0.03 0.10 0.07 0.20 0.02 5.50 4.29 0.07 0.06

0.44 1.00 0.00 0.05 0.06 0.00 0.25 0.20 0.67 0.51 0.00 0.69 0.54 0.00 0.00 0.35 0.02 0.03 0.18 0.00 0.00 0.06 0.00 72.18 0.00 0.57 0.73 0.70 0.55 0.16 0.12 0.08 0.11 0.30 0.03 0.00 3.25 4.12 0.04 0.06 0.04 0.08 0.10 0.16 0.10 0.00 0.00 0.00 0.36 0.17 0.23 0.05 0.03 0.14 0.17 0.29 0.37 0.00 0.03 0.05 0.05 0.03 123.00 0.26 0.03 0.00 0.09 0.07 0.15 0.00 5.00 3.92 0.05 0.04

86 3715 7213 458 1900 225 93 130 2051 180 0 225 204 183 106 161 2642 18200 3330 765 261 438 525 6 1162 0 539 272 559 844 48 685 539 1483 768 0 22 697 3339 31 28 471 121 189 366 390 1132 249 2104 0 31 10 20107 4 11 49958 1023 548 1421 18 0 168 588 919 2863 731 138 3627 587 27 890 130 118 726 798 243 195 1320 883 2501 1419 31 96 32 0 32 610 2048 206 720 371 366 599 500 49 1412

0.25 1.36 1.75 0.19 0.24 1.56 0.24 0.31 0.28 0.22 0.00 0.11 0.15 0.18 0.22 0.18 10.86 8.46 0.46 0.28 0.37 0.48 0.16 0.13 3.08 0.00 0.03 0.12 0.15 0.10 0.08 0.89 0.83 0.25 0.19 0.00 0.60 25.00 19.43 0.31 0.43 0.19 0.15 0.07 0.09 0.07 0.09 0.11 0.12 0.00 1.04 0.55 0.85 0.11 5.08 20.64 0.19 0.08 0.10 0.23 0.00 0.45 0.59 2.34 1.84 11.54 14.50 0.09 0.07 0.06 0.06 0.33 0.25 0.96 0.89 1.53 0.18 0.56 0.71 0.40 0.48 0.30 0.09 0.12 0.14 0.16 0.11 0.14 0.04 0.05 0.17 0.48 0.59 0.16 0.13 0.29

Last

12-month Change

High Low

+ 0.46 + 1.06 0.17 + 0.06 0.07 unch + 0.09 0.27 0.21 + 0.69 0.55 0.13 + 0.74 + 0.58 0.62 + 0.05 + 0.38 0.02 0.03 unch 0.20 0.24 + 0.06 + 0.06 72.51 72.72 83.19 0.59 0.74 0.75 unch + 0.60 + 0.16 + 0.13 + 0.10 0.11 0.33 0.03 unch 0.05 unch + 3.58 + 4.56 + 0.05 + 0.07 0.04 + 0.09 + 0.11 0.16 + 0.11 0.28 + 0.07 + 0.09 0.39 + 0.20 + 0.25 0.05 + 0.03 0.14 unch + 0.17 0.31 0.39 0.26 unch + 0.04 0.05 0.05 unch + 0.04 + 137.18 + 0.28 0.03 unch + 0.03 0.09 0.07 unch + 0.20 0.02 unch 5.30 4.10 + 0.06 + 0.05

0.01 0.04 0.04 0.00 0.00 0.01 0.01 0.02 0.02 0.01 0.01 0.06 0.04 0.05 0.01 0.02 0.00 0.00 0.02 0.03 0.01 0.02 7.57 9.16 8.81 0.00 0.02 0.00 0.01 0.01 0.01 0.03 0.01 0.01 0.00 0.00 0.12 0.24 0.01 0.01 0.01 0.01 0.01 0.02 0.02 0.03 0.02 0.01 0.02 0.03 0.03 0.01 0.00 0.00 0.02 0.01 0.02 0.00 0.00 0.01 0.00 0.01 8.63 0.01 0.00 0.01 0.01 0.00 0.02 0.00 0.09 0.04 0.02 0.01

0.85 1.28 0.37 0.11 0.12 0.13 0.30 0.24 0.83 0.67 0.39 1.08 0.88 1.70 0.07 0.77 0.18 0.23 0.61 0.74 0.09 0.11 94.42 95.97 106.55 0.75 0.87 0.99 0.80 0.24 0.19 0.23 0.28 0.50 0.12 0.15 7.53 9.38 0.07 0.10 0.06 0.13 0.17 0.29 0.19 0.39 0.10 0.16 1.21 0.46 0.58 0.06 0.04 0.42 0.46 0.80 0.64 0.26 0.12 0.12 0.12 0.07 138.70 0.40 0.14 0.18 0.23 0.38 0.24 0.06 6.08 5.10 0.14 0.09

0.37 0.70 0.17 0.05 0.06 0.04 0.06 0.04 0.50 0.40 0.13 0.55 0.44 0.60 0.03 0.30 0.02 0.03 0.18 0.23 0.04 0.01 57.41 59.58 63.01 0.40 0.53 0.36 0.28 0.13 0.10 0.01 0.10 0.26 0.03 0.04 2.91 3.67 0.04 0.05 0.03 0.00 0.10 0.11 0.09 0.10 0.05 0.07 0.32 0.17 0.22 0.04 0.02 0.11 0.14 0.11 0.23 0.26 0.03 0.04 0.04 0.03 92.01 0.24 0.03 0.03 0.09 0.07 0.09 0.02 3.44 2.50 0.04 0.03

0.19 + 1.25 + 1.62 + 0.18 + 0.22 1.46 0.22 0.29 + 0.27 + 0.21 0.05 unch + 0.10 + 0.14 0.16 + 0.21 + 0.17 + 10.43 + 8.18 + 0.43 + 0.28 0.34 0.44 + 0.16 + 0.12 2.98 0.26 unch 0.03 unch + 0.11 + 0.15 0.08 0.06 0.84 0.65 unch + 0.22 + 0.18 0.47 unch 0.56 + 23.28 + 18.26 0.28 unch 0.22 + 0.19 + 0.15 + 0.07 + 0.09 0.05 0.07 + 0.10 + 0.10 0.45 unch 0.95 0.55 unch + 0.80 0.10 5.05 17.70 0.16 0.07 0.09 unch 0.20 0.05 unch 0.39 0.51 2.01 1.58 + 11.08 + 14.10 + 0.09 + 0.07 + 0.05 + 0.06 0.31 0.24 + 0.82 + 0.65 + 1.52 0.18 unch + 0.55 + 0.69 + 0.38 + 0.48 0.28 0.09 + 0.12 0.14 unch + 0.16 + 0.09 + 0.13 0.03 0.04 0.16 unch + 0.41 0.50 + 0.16 + 0.13 0.28 unch

0.02 0.09 0.13 0.03 0.02 0.03 0.00 0.02 0.05 0.04 0.00 0.01 0.01 0.02 0.02 0.02 0.33 0.25 0.05 0.06 0.02 0.02 0.02 0.01 0.02 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.00 0.03 0.01 0.00 0.04 0.18 0.12 0.00 0.19 0.03 0.02 0.01 0.01 0.02 0.03 0.01 0.01 0.00 0.15 0.00 0.09 0.03 0.02 2.41 0.02 0.01 0.00 0.10 0.00 0.04 0.01 0.19 0.16 0.03 0.09 0.01 0.01 0.02 0.01 0.01 0.01 0.13 0.10 0.25 0.00 0.08 0.10 0.07 0.09 0.06 0.00 0.02 0.00 0.01 0.01 0.03 0.00 0.01 0.00 0.01 0.01 0.03 0.03 0.00

0.30 1.71 2.14 0.35 0.40 1.65 0.32 0.42 0.28 0.22 0.05 0.30 0.15 0.20 0.25 0.21 11.34 9.31 0.58 0.28 0.82 0.92 0.18 0.14 4.49 0.35 0.09 0.21 0.26 0.17 0.14 0.98 2.88 0.27 0.24 0.55 0.80 26.21 20.87 1.24 1.05 0.37 0.40 0.09 0.11 0.25 0.22 0.16 0.12 0.45 1.49 1.25 0.85 0.17 5.16 20.68 0.28 0.12 0.15 1.25 1.20 0.79 1.07 4.83 3.92 12.30 15.25 0.22 0.20 0.15 0.17 1.55 1.25 1.36 1.11 4.30 0.25 0.86 1.08 0.67 0.80 0.85 0.23 0.23 0.29 0.26 0.22 0.26 0.47 0.11 0.34 0.70 0.80 0.60 0.51 0.52

0.13 0.95 1.23 0.12 0.16 1.00 0.22 0.26 0.12 0.09 0.05 0.08 0.06 0.07 0.17 0.13 6.86 5.31 0.22 0.15 0.28 0.35 0.10 0.08 2.20 0.20 0.03 0.04 0.12 0.08 0.06 0.40 0.18 0.16 0.12 0.44 0.45 18.85 14.85 0.16 0.20 0.11 0.01 0.03 0.06 0.00 0.06 0.04 0.04 0.45 0.87 0.00 0.36 0.09 2.75 11.15 0.03 0.06 0.08 0.20 0.05 0.31 0.39 1.42 1.13 3.84 4.50 0.06 0.05 0.00 0.04 0.29 0.18 0.56 0.38 1.24 0.11 0.26 0.25 0.28 0.36 0.23 0.07 0.07 0.02 0.09 0.07 0.10 0.03 0.03 0.11 0.29 0.38 0.12 0.08 0.23

S 0.17 1.16 1.49 0.16 0.20 1.46 0.22 0.00 0.22 0.18 0.00 0.00 0.13 0.15 0.00 0.00 9.77 7.60 0.38 0.00 0.30 0.38 0.14 0.12 2.83 0.00 0.00 0.10 0.13 0.08 0.06 0.80 0.53 0.20 0.12 0.00 0.00 22.77 17.82 0.28 0.00 0.16 0.12 0.06 0.08 0.05 0.06 0.00 0.09 0.00 0.00 0.55 0.71 0.00 0.00 17.40 0.16 0.07 0.09 0.00 0.00 0.39 0.50 1.95 1.49 10.38 13.00 0.08 0.06 0.05 0.05 0.31 0.24 0.74 0.58 1.28 0.00 0.45 0.59 0.31 0.40 0.00 0.08 0.00 0.00 0.00 0.08 0.10 0.03 0.04 0.15 0.39 0.49 0.13 0.10 0.27

GLOBAL MINING NEWS

(100s) Stock Silver X* Silvercorp Met Silvercorp Met* SilverCrest* SilverCrest Silverstock Silverton Met Silverton Met* Sirios Res* Sirios Res Sitka Gold* Sitka Gold Sixty North Sixty North* Skeena Res SKRR Explor Sky Gold Sky Gold* Skyharbour Res Skyharbour Res* Slam Explor* Slam Explor Slave Lake Zn* Slave Lake Zn Snowline Gold Snowy Owl Sokoman Min Sokoman Min* Solaris Res SolGold plc* SolGold plc SolidusGold Solitario Ex&R Solitario Ex&R* Solstice Gold Sonora Gld & S Sonoro Gold* Sonoro Gold SOPerior Fert South Atlantic* South Atlantic South Star Bat South Star Bat* South32* Southern Copp* Southern Emp* Southern Emp Southern Silvr Southern Silvr* SouthGobi Res Southstone Min Spanish Mtn Gd* Spanish Mtn Gd Sparton Res Sparton Res* SPC Nickel SPC Nickel* Spearmint Res Spearmint Res* Sphinx Res Spruce Ridge R SRG Mining SSR Mining* SSR Mining St Augustine St-Georges Eco St-Georges Eco* St. James Gold St. James Gold* Stakeholdr Gld Stallion Gold Standard Graph* Standard Metal* Standard Uran* Standard Uran Stans Energy Star Diamond Star Diamond* Star Gold* Starcore Intl* Starcore Intl Starr Peak* Starr Peak Stellar Africa* Stellar Africa Stelmine Can Stelmine Can* Steppe Gold Steppe Gold* Sterling Metal Sterling Metal* Stevens Gold* Stevens Gold Stinger Res Stinger Res* Stone Gold Straightup Res Straightup Re* Stratabd Mnr* Stratabd Mnr Strategic Metl Strategic Metl* Strategic Res Strategic Res* Stria Lithium Strikepoint Gd Strikepoint Gd* Strongbow Expl Strongbow Expl* Stroud Res Stuhini Explor* Stuhini Explor Stuve Gold

Week

Exc Volume O T X X T C V O O V O C C O T V V O V O O V O C C C V O T O T V T X V V O V V O V V O O N O V V O T V O V V O V O C O V V V D T T C O V O V V O O O V V T O O O T O V O V V O T O V O O C V O V C O O V V O V O V V O V O V O V V

THE NORTHERN MINER / MARCH 21—APRIL 3, 2022

Low

Last

0.23 5.41 4.20 10.13 12.99 0.00 0.19 0.15 0.07 0.09 0.11 0.14 0.06 0.04 17.11 0.10 0.09 0.07 0.84 0.66 0.03 0.05 0.10 0.15 0.86 0.05 0.37 0.29 14.84 0.40 0.50 0.00 1.07 0.83 0.18 0.00 0.16 0.21 0.08 0.04 0.05 0.17 0.13 4.09 76.78 0.12 0.17 0.41 0.32 0.33 0.04 0.21 0.27 0.10 0.09 0.17 0.15 0.14 0.11 0.00 0.13 0.90 22.46 28.59 0.11 0.37 0.31 1.07 0.83 0.83 0.30 0.02 7.50 0.21 0.26 0.02 0.39 0.29 0.02 0.19 0.25 1.46 1.87 0.06 0.06 0.32 0.28 1.79 1.39 0.29 0.23 0.16 0.15 0.12 0.09 0.22 0.14 0.11 0.10 0.09 0.43 0.33 0.00 0.22 0.04 0.11 0.09 0.49 0.38 0.49 0.66 0.82 0.19

0.00 4.84 3.78 8.95 11.49 0.00 0.00 0.11 0.05 0.07 0.09 0.12 0.05 0.04 14.57 0.07 0.07 0.05 0.66 0.51 0.03 0.00 0.10 0.12 0.74 0.00 0.33 0.26 12.94 0.37 0.47 0.00 0.92 0.71 0.15 0.00 0.15 0.17 0.05 0.01 0.00 0.13 0.10 3.50 72.47 0.12 0.15 0.37 0.28 0.21 0.00 0.18 0.23 0.08 0.06 0.13 0.01 0.12 0.09 0.00 0.10 0.69 20.21 25.94 0.00 0.31 0.23 0.91 0.71 0.00 0.00 0.01 6.50 0.17 0.22 0.00 0.32 0.25 0.02 0.18 0.00 1.20 1.53 0.04 0.00 0.27 0.21 1.34 1.05 0.25 0.19 0.00 0.12 0.10 0.08 0.00 0.00 0.11 0.06 0.07 0.00 0.30 0.00 0.22 0.03 0.08 0.06 0.37 0.29 0.00 0.66 0.77 0.00

0.22 + 5.21 + 4.12 + 9.15 11.62 0.25 unch 0.19 + 0.13 0.07 + 0.08 + 0.10 + 0.12 unch 0.06 + 0.04 16.33 + 0.08 + 0.08 + 0.06 0.71 unch 0.56 + 0.03 unch 0.04 unch 0.10 unch 0.15 + 0.86 + 0.05 0.34 + 0.27 + 13.43 0.37 0.47 0.11 unch 1.03 + 0.81 + 0.16 0.09 unch 0.15 0.20 + 0.06 + 0.04 + 0.05 unch 0.15 0.12 3.50 74.07 0.12 unch 0.17 + 0.38 + 0.30 + 0.21 0.04 + 0.19 0.24 0.09 + 0.06 0.14 + 0.11 + 0.13 0.11 + 0.01 unch 0.12 + 0.75 + 22.26 + 28.34 + 0.09 0.36 + 0.28 + 0.91 0.73 0.80 + 0.28 unch 0.02 + 7.00 + 0.20 + 0.25 + 0.01 0.36 + 0.29 + 0.02 unch 0.18 0.24 + 1.26 1.59 0.05 + 0.06 + 0.28 0.23 1.53 1.19 0.26 + 0.21 + 0.10 0.13 0.11 + 0.09 0.19 0.12 0.11 unch 0.06 0.07 0.40 unch 0.31 0.28 unch 0.22 unch 0.03 + 0.08 0.06 0.44 + 0.37 + 0.49 + 0.66 + 0.82 unch 0.18 unch

167 4599 13174 5805 2405 2 52 24 18 1214 62 925 1609 91 1949 1346 208 129 3259 868 215 196 5 1028 642 41 1530 197 824 150 72 0 297 5325 248 0 86 215 11033 206 407 1453 817 123 7783 50 299 1422 912 529 106 1259 1260 339 33 2276 490 1216 636 0 1178 670 15594 3362 1452 1713 1352 110 20 15 562 715 12 1055 2647 298 1381 8 121 10 45 419 328 54 223 1339 1125 468 32 550 465 17 159 204 12 352 43 20 33 415 181 272 0 111 4865 6638 3864 1866 220 119 5 98 10

(100s)

12-month

High

Change 0.01 0.12 0.14 0.42 0.55 0.00 0.01 0.01 0.01 0.02 0.00 0.00 0.01 0.00 1.44 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.04 0.05 0.00 0.01 0.01 1.39 0.01 0.01 0.00 0.01 0.03 0.02 0.00 0.00 0.01 0.02 0.03 0.00 0.02 0.01 0.29 2.53 0.00 0.02 0.02 0.02 0.07 0.01 0.01 0.02 0.01 0.01 0.02 0.01 0.01 0.00 0.00 0.02 0.03 1.37 1.76 0.01 0.02 0.02 0.06 0.04 0.05 0.00 0.00 0.01 0.03 0.03 0.01 0.04 0.04 0.00 0.00 0.02 0.11 0.15 0.01 0.01 0.03 0.02 0.24 0.21 0.01 0.00 0.06 0.03 0.01 0.01 0.01 0.02 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.01 0.02 0.02 0.03 0.05 0.22 0.01 0.00 0.00

High Low

Stock

0.41 8.07 6.72 10.40 12.99 0.29 0.87 0.64 0.12 0.15 0.27 0.34 0.09 0.07 17.11 0.28 0.25 0.21 0.87 0.70 0.12 0.16 0.38 0.43 0.88 0.16 0.78 0.64 17.17 0.51 0.62 0.12 1.28 1.04 0.25 0.09 0.32 0.39 0.08 0.11 0.10 0.38 0.30 4.09 83.29 0.49 0.27 0.63 0.53 1.36 0.08 0.30 0.36 0.21 0.16 0.80 0.15 0.21 0.22 0.03 0.16 0.90 22.46 28.59 0.19 0.72 0.57 6.50 5.16 1.12 0.60 0.50 18.00 0.39 0.51 0.06 0.49 0.37 0.08 0.23 0.31 3.56 4.05 1.00 0.10 0.35 0.31 2.48 2.05 0.78 1.00 0.44 0.42 0.35 0.29 0.22 0.32 0.26 0.25 0.28 0.50 0.41 0.45 0.28 0.09 0.28 0.23 0.58 0.44 0.90 0.69 0.99 0.30

Sulliden Mng Summa Silver* Summa Silver Sun Peak Metal Sun Summit Sun Summit* Suncor Energy* Suncor Energy Superior Gold* Superior Gold Superior Mng Surge Battery* Surge Battery Surge Copper Surge Copper* Sylla Gold Syrah Res*

T O V V V O N T O V V O V V O V O

Taiga Gold Taiga Gold* Tajiri Res Tajiri Res* Talisker Res Talisker Res* Talmora Diamd Talon Metals Tanqueray Expl Tantalex Res Tanzanian Gold* Tanzanian Gold Tarachi Gold* Tarachi Gold Taranis Res* Taranis Res Tarku Res Tarku Res* Tartisan Nick* Tartisan Nick Taseko Mines* Taseko Mines TDG Gold Teck Res* Teck Res Teck Res Tectonic Metal* Tectonic Metal Temas Res* Temas Res Tembo Gold Tembo Gold* Tempus Res* Tempus Res Teras Res* Teras Res Terrax Mnrls Terrax Mnrls* Terreno Res Tesoro Mnrls* Tesoro Mnrls Teuton Res* Teuton Res Texas Mineral* Themac Res Themac Res* Thesis Gold Theta Gold* Thor Explor Thor Explor* Three Valley* Three Valley Thunder Mtn Gd* Thunder Mtn Gd Thunderstruck Thunderstruck* Tier One Silv Timberline Res Timberline Res* Tinka Res* Tinka Res Tintina Mines Tisdale Res* Tisdale Res Titan Mining Titan Mining* Titanium Corp TNR Gold Tocvan Venture TomaGold Tombill Mines* Tombill Mines Tombstone Expl* Tonogold Res* Torex Gold* Torex Gold Torq Resources* Torq Resources Tower Res* Tower Res Traction Uran* Traction Uran Trailbreaker* Trailbreaker Trans Canada Trans Canada* Transatlantic Transforma Res Transition Met Transition Met* Treasury Metal Treasury Metal* Trecora Res* Tres-Or Res

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

0.00 3.95 3.08 6.60 8.30 0.18 0.15 0.10 0.04 0.06 0.06 0.09 0.04 0.03 11.24 0.07 0.07 0.05 0.31 0.24 0.00 0.04 0.05 0.06 0.24 0.05 0.21 0.16 6.90 0.28 0.35 0.07 0.53 0.41 0.09 0.09 0.11 0.14 0.02 0.01 0.04 0.10 0.08 1.92 54.92 0.09 0.11 0.25 0.19 0.12 0.03 0.13 0.17 0.07 0.01 0.07 0.00 0.09 0.07 0.01 0.08 0.37 13.68 17.29 0.06 0.22 0.17 0.55 0.46 0.39 0.25 0.01 0.08 0.14 0.17 0.01 0.17 0.13 0.02 0.16 0.20 1.20 1.59 0.01 0.04 0.08 0.12 1.08 0.83 0.21 0.16 0.08 0.11 0.10 0.01 0.06 0.11 0.11 0.02 0.07 0.28 0.21 0.22 0.19 0.02 0.08 0.06 0.15 0.12 0.24 0.39 0.50 0.16

Week

Exc Volume

12-month

High

Low

Last

Change

530 645 730 30 643 164 58009 97475 282 1905 5 638 247 1814 741 23 272

0.12 1.29 1.39 0.25 0.44 0.35 33.61 43.12 0.77 1.00 0.32 0.14 0.18 0.35 0.27 0.18 1.03

0.00 0.12 unch 0.93 1.00 + 1.19 1.27 0.00 0.25 + 0.40 0.43 unch 0.33 0.34 30.89 31.76 + 39.63 40.49 + 0.69 0.74 + 0.88 0.95 + 0.00 0.32 unch 0.11 0.14 + 0.15 0.18 + 0.27 0.34 + 0.22 0.27 + 0.00 0.18 1.00 1.03 unch

2108 84 78 15 1178 264 48 10269 157 488 40078 432 92 644 28 4 225 9 312 971 11540 2954 20 37836 36 15815 859 2705 104 835 65 34 100 50 500 699 1200 473 126 750 41 33 316 563 0 2 331 10 724 14 524 4474 84 0 455 196 1324 1823 1979 279 1191 2 1 10 361 13 1710 192 381 553 202 1165 8 2114 283 3144 39 504 56 2061 57 321 9 31 192 7 232 0 896 406 542 178 69 18

0.26 0.20 0.05 0.04 0.30 0.23 0.03 0.83 5.79 0.10 0.50 0.61 0.14 0.18 0.09 0.11 0.09 0.06 0.37 0.48 2.22 2.83 0.50 42.38 56.95 54.03 0.08 0.10 0.10 0.12 0.25 0.19 0.06 0.09 0.03 0.03 0.28 0.22 0.03 0.03 0.04 1.71 2.19 2.00 0.00 0.06 2.79 0.18 0.34 0.28 0.08 0.10 0.11 0.00 0.10 0.08 0.98 0.36 0.29 0.13 0.17 0.05 0.20 0.29 0.79 0.59 1.82 0.05 0.81 0.05 0.07 0.07 1.14 0.18 13.65 17.43 0.63 0.80 0.12 0.15 0.79 0.96 0.27 0.30 0.07 0.05 0.03 0.00 0.20 0.20 0.77 0.62 8.99 0.10

Stock

0.00 0.01 0.02 0.01 0.00 0.00 0.29 0.43 0.04 0.06 0.00 0.02 0.01 0.06 0.04 0.01 0.00

0.28 1.41 1.71 0.54 1.35 1.09 33.61 43.12 0.77 1.00 0.80 0.35 0.38 0.57 0.46 0.30 2.48

0.08 0.62 0.80 0.20 0.37 0.30 17.10 21.90 0.35 0.45 0.28 0.05 0.14 0.27 0.21 0.14 0.71

0.00 0.00 0.00 0.00 0.01 0.00 0.01 0.05 1.10 0.01 0.04 0.03 0.00 0.01 0.01 0.01 0.01 0.01 0.03 0.02 0.03 0.05 0.01 0.37 2.07 0.60 0.02 0.02 0.00 0.01 0.01 0.00 0.00 0.01 0.00 0.00 0.02 0.02 0.01 0.00 0.00 0.04 0.01 0.03 0.00 0.00 0.30 0.03 0.01 0.00 0.01 0.02 0.01 0.00 0.01 0.01 0.25 0.01 0.01 0.01 0.00 0.01 0.02 0.04 0.04 0.03 0.53 0.01 0.07 0.00 0.01 0.01 0.16 0.03 0.30 0.41 0.01 0.01 0.03 0.04 0.14 0.07 0.03 0.03 0.01 0.01 0.01 0.00 0.00 0.01 0.02 0.04 0.05 0.00

0.27 0.24 0.13 0.10 0.38 0.31 0.05 0.89 20.20 0.19 0.71 0.88 0.35 0.41 0.12 0.14 0.25 4.84 0.50 0.56 2.67 3.22 0.75 42.32 56.95 54.03 0.15 0.18 1.20 1.38 0.36 0.24 0.21 0.28 0.07 0.08 0.31 0.25 0.07 0.06 0.07 2.75 2.99 3.59 0.12 0.22 3.08 0.37 0.45 1.00 0.82 1.02 0.19 0.19 0.13 0.09 1.90 0.38 0.32 0.24 0.30 0.07 0.55 0.70 0.79 0.74 1.63 0.08 1.67 0.09 0.35 0.29 2.80 0.30 15.52 18.72 0.86 1.08 0.15 0.19 1.00 1.08 0.38 0.49 0.26 0.21 0.06 0.28 0.26 0.20 1.03 0.93 9.38 0.16

0.14 0.00 0.05 0.04 0.24 0.19 0.02 0.44 4.80 0.04 0.34 0.43 0.11 0.14 0.07 0.08 0.05 0.01 0.10 0.30 1.49 1.92 0.38 17.31 28.70 21.86 0.05 0.07 0.08 0.10 0.10 0.09 0.06 0.07 0.02 0.02 0.16 0.13 0.03 0.02 0.03 1.36 1.74 1.30 0.06 0.04 0.90 0.00 0.19 0.17 0.02 0.03 0.06 0.11 0.06 0.04 0.53 0.15 0.11 0.11 0.16 0.03 0.17 0.02 0.28 0.00 0.20 0.04 0.45 0.05 0.05 0.06 0.51 0.09 8.99 11.79 0.43 0.55 0.03 0.04 0.61 0.20 0.14 0.17 0.06 0.05 0.02 0.06 0.13 0.07 0.65 0.47 7.46 0.08

Trevali Mining Tri-River Vent Trident Gold Trifecta Gold Trifecta Gold* Trillium Gold* Trillium Gold Trilogy Mtls Trilogy Mtls* TriMetals Mng* Trinity Res* Triple Flag TriStar Gold TriStar Gold* Triumph Gold Triumph Gold* Troilus Gold* Troilus Gold Troubadour Res TRU Precious* TRU Precious True North Gem Tsodilo Res Tudor Gold Tudor Gold * Turmalina Met Turmalina Met* Turquoise HIl* Turquoise HIl TVI Pacific TVI Pacific* Tymbal Res

T V V V O O V T X O O T V O V O O T V O V V V V O V O N T V O V

U.S. Gold* U3O8 Corp Ubique Mineral UC Res* Ucore Rare Mtl* Ucore Rare Mtl UEX Corp Ultra Resource* Ultra Resource Umbral Enrgy* Unigold* Unigold United Battery United Battery* United Res Hdg* United States A* United States S* Universal Cop* Universal Cop Universal Vent Ur-Energy* Ur-Energy Uragold Bay Rs Uranium Energy* Uranium Hunter* Uranium Res* Uranium Roylty Uranium Roylty* Uravan Mnrls USCorp* Usha Res* Usha Res Val-d’Or Mg Val-d’Or Mg* Vale* Valley High Mg* ValOre Metals* ValOre Metals Valorem Res Valterra Res* Valterra Res Vanadian Enrgy* Vanadian Enrgy Vanadiumcorp Vanstar Mng Rs* Vanstar Mng Rs Vantex Res * Vantex Res Velocity Mnrls Velocity Mnrls* Vendetta Mng* Vendetta Mng Venerable Vent Venture Mnrls* Verde Potash Verde Res* Vertical Expl* Vertical Expl Victoria Gold* Victoria Gold Victory Nickel Victory Nickel* Victory Res Victory Res* Virginia Enrgy Virginia Enrgy* Viscount Mng Visible Gold M Visible Gold M* Vision Lithium Vision Lithium* Visionary Gold Vista Gold* Vista Gold Viva Gold* Viva Gold Vizsla Copper Vizsla Silver

T 0.24 0.19 0.00 0.04 0.26 0.20 0.00 0.73 4.53 0.08 0.36 0.47 0.13 0.17 0.07 0.00 0.07 0.06 0.31 0.38 2.01 2.53 0.00 37.82 48.50 48.52 0.06 0.07 0.08 0.11 0.23 0.19 0.06 0.00 0.02 0.00 0.23 0.18 0.00 0.02 0.00 1.63 2.05 1.73 0.00 0.06 2.32 0.08 0.27 0.00 0.05 0.07 0.09 0.00 0.09 0.07 0.68 0.28 0.22 0.12 0.16 0.00 0.00 0.00 0.71 0.52 1.26 0.05 0.73 0.00 0.05 0.00 0.00 0.11 12.27 15.95 0.61 0.76 0.08 0.10 0.61 0.82 0.24 0.00 0.00 0.05 0.00 0.00 0.17 0.12 0.72 0.56 8.37 0.00

0.25 0.19 0.05 0.04 0.27 0.21 0.03 0.77 4.67 0.09 0.41 0.51 0.14 0.17 0.09 0.10 0.08 0.06 0.33 0.40 2.09 2.66 0.48 41.86 56.48 53.35 0.06 0.08 0.09 0.11 0.24 0.19 0.06 0.09 0.02 0.02 0.25 0.20 0.03 0.02 0.03 1.64 2.15 1.94 0.06 0.06 2.39 0.16 0.30 0.22 0.06 0.08 0.11 0.11 0.09 0.07 0.89 0.33 0.26 0.12 0.16 0.05 0.20 0.29 0.72 0.58 1.78 0.05 0.80 0.05 0.06 0.07 1.14 0.15 13.43 17.11 0.62 0.77 0.08 0.12 0.61 0.85 0.24 0.28 0.07 0.05 0.03 0.08 0.17 0.14 0.74 0.57 8.78 0.10

unch unch unch + + + + + + + + + + + + + unch + + unch + + unch unch + unch + + + + + unch + + + unch + + + + unch + + + + + + + unch unch + unch

(100s)

High Low

Week

Exc Volume

Last

12-month

High

Low

Change

1437 0 0 126 53 168 245 319 2067 142 0 114 281 295 743 144 195 1639 6 408 697 84 14 623 140 596 579 3554 1140 936 100 100

1.58 0.00 0.00 0.09 0.07 0.55 0.70 1.43 1.12 0.18 0.00 18.17 0.24 0.19 0.11 0.08 0.70 0.91 0.15 0.10 0.13 0.09 0.69 2.18 1.80 0.63 0.51 20.97 26.70 0.04 0.03 0.01

1.40 1.41 0.00 0.04 unch 0.00 0.09 unch 0.08 0.08 0.06 0.06 0.45 0.53 + 0.00 0.68 + 1.22 1.33 + 0.96 1.08 + 0.13 0.18 + 0.00 0.25 unch 16.20 17.40 + 0.19 0.24 + 0.14 0.19 + 0.09 0.11 + 0.08 0.08 + 0.60 0.70 + 0.77 0.88 + 0.00 0.15 0.07 0.09 0.11 0.13 + 0.00 0.08 0.00 0.54 2.05 2.12 + 1.60 1.70 + 0.43 0.56 + 0.35 0.47 + 18.69 20.13 24.00 25.68 0.03 0.04 unch 0.03 0.03 + 0.00 0.01 unch

D 1457 V 440 C 125 O 2788 O 235 V 193 T 11089 O 157 V 318 O 383 O 685 V 1306 C 513 O 446 O 86 X 20122 N 142447 O 225 V 824 V 52 X 20388 T 2005 V 2781 X 112624 O 2360 X 37172 V 1816 D 6129 V 0 O 59 O 155 V 270 V 691 O 159 N 250594 O 3539 O 488 V 1066 C 2536 O 117 V 100 O 282 V 159 V 3256 O 18 V 207 O 2 V 0 V 208 O 4 O 171 V 1029 V 0 O 100 T 2481 O 124 O 150 V 652 O 363 T 1808 C 29754 O 1988 C 2022 O 633 V 121 O 188 V 1390 V 742 O 71 V 1277 O 351 V 10 X 4151 T 267 O 187 V 155 V 837 V 1808

10.10 0.30 0.07 7.08 0.74 0.93 0.44 0.28 0.35 0.08 0.11 0.14 0.49 0.43 0.09 0.70 34.17 0.09 0.10 5.28 1.95 2.49 0.36 5.39 0.03 2.46 6.35 5.00 0.00 0.01 0.26 0.38 0.13 0.10 20.96 0.01 0.47 0.60 0.05 0.02 0.02 0.04 0.05 0.05 0.34 0.43 0.14 0.00 0.31 0.23 0.05 0.06 0.00 0.03 9.26 0.15 0.06 0.09 14.34 18.35 0.04 0.04 0.06 0.05 0.90 0.72 0.43 0.18 0.12 0.17 0.13 0.07 1.00 1.25 0.11 0.14 0.20 2.85

Stock

0.12 0.00 0.00 0.01 0.02 0.01 0.02 0.07 0.09 0.02 0.00 1.10 0.05 0.04 0.01 0.01 0.09 0.11 0.01 0.01 0.01 0.01 0.10 0.03 0.06 0.14 0.13 0.64 0.74 0.00 0.00 0.00

2.75 0.04 0.12 0.13 0.24 1.20 1.44 3.70 3.06 0.21 0.75 18.48 0.31 0.25 0.23 0.19 1.22 1.31 0.74 0.41 0.52 0.18 1.46 3.49 2.85 1.13 0.98 22.04 27.84 0.06 0.06 0.04

1.13 0.04 0.09 0.07 0.00 0.34 0.48 1.13 0.87 0.08 0.00 10.50 0.14 0.11 0.09 0.07 0.52 0.66 0.14 0.02 0.11 0.08 0.50 1.87 1.31 0.34 0.27 9.75 12.15 0.03 0.02 0.01

Volatus Cap Volcanic Gold* Volcanic Gold Volt Carbon* Volt Carbon Voyager Metals Voyager Metals* Voyageur Min Voyageur Min* Voyageur Min VR Resources* VR Resources Vulcan Mnrls* Vulcan Mnrls VVC Expl VVC Expl*

C O V O V V O V O C O V O V V O

1.98 0.01 0.00 0.70 0.07 0.08 0.01 0.05 0.07 0.01 0.00 0.01 0.03 0.02 0.00 0.13 1.92 0.02 0.00 0.97 0.15 0.24 0.01 1.10 0.01 0.01 0.33 0.30 0.00 0.00 0.00 0.03 0.00 0.00 1.08 0.00 0.12 0.13 0.00 0.00 0.00 0.01 0.01 0.01 0.02 0.02 0.00 0.00 0.01 0.02 0.01 0.01 0.00 0.00 1.07 0.02 0.00 0.02 0.81 1.07 0.03 0.02 0.00 0.00 0.00 0.03 0.03 0.04 0.01 0.03 0.02 0.01 0.08 0.13 0.01 0.01 0.03 0.34

13.20 0.70 0.10 30.20 1.58 1.95 0.60 0.28 0.38 0.14 0.31 0.40 1.25 1.02 0.25 1.46 33.95 0.15 0.16 8.40 2.15 2.72 1.27 5.79 0.14 7.15 7.31 5.95 0.65 0.07 0.34 0.40 0.21 0.29 23.18 0.10 0.50 0.61 0.44 0.08 0.09 0.10 0.13 0.07 1.04 1.15 0.27 0.38 0.50 0.41 0.07 0.07 0.13 0.12 9.45 0.27 0.17 0.22 18.50 22.54 0.09 0.06 0.60 0.49 0.98 0.79 0.55 0.22 0.17 0.34 0.27 0.24 1.40 1.72 0.31 0.39 0.70 3.45

6.01 0.11 0.03 5.76 0.55 0.71 0.26 0.11 0.13 0.00 0.07 0.09 0.39 0.06 0.01 0.37 17.98 0.01 0.06 3.15 0.97 1.23 0.29 1.89 0.01 1.75 2.60 2.06 0.22 0.01 0.15 0.18 0.11 0.03 11.16 0.00 0.16 0.22 0.04 0.02 0.02 0.03 0.04 0.03 0.28 0.36 0.00 0.16 0.28 0.22 0.01 0.04 0.12 0.03 0.88 0.02 0.06 0.06 9.68 12.18 0.01 0.00 0.05 0.04 0.17 0.14 0.33 0.07 0.00 0.10 0.07 0.06 0.59 0.77 0.06 0.08 0.15 1.33

Walker River Walker River* Wallbridge Mng* Wallbridge Mng Waraba Gold Warrior Gold* Warrior Gold Waseco Res Wealth Mnrls* Wealth Mnrls Wedgemount Res Wescan Gldflds Wesdome Gold Wesdome Gold* West High Yld West Mining* West Mining West Red Lake* West Red Lake West Vault Western Alaska Western Areas* Western Atlas Western Copper Western Copper* Western Gold Western Mag* Western Mag Western Potash Western Res* Western Troy C Western U&V Western U&V* Westgold Res* Westhaven Gold Westhaven Gold* Westkam Gold* Westkam Gold Westminster Rs Westminster Rs* Westward Gold Wheaton Prec Wheaton Prec* White Energy* White Gold* White Gold White Metal Rs Whitehaven Coa* Whitehorse GC Wildsky Res* Wildsky Res Winshear Gold Winston Gold* Winston Gold Winston Res Wolfden Res* Wolfden Res Wolfeye Res World Copper Worldwide Res X-Terra Res X-Terra Res* Xanadu Mines Xander Res Xander Res* Ximen Mining* Ximen Mining Xplore Res Xtierra Inc Xtra-Gold Res Xtra-Gold Res* Yamana Gold Yamana Gold* Yanzhou Coal* Yorbeau Res* Yorbeau Res York Harbour York Harbour* Zacatecas Silv Zacatecas Silv* ZEB Nickel Zena Mining Zephyr Mnls Zephyr Mnls* Zimtu Capital Zinc One Res Zinc One Res * Zincore Mtls ZincX Res ZincX Res* Zonte Metals Zonte Metals*

U-V 7.16 0.21 0.07 5.76 0.62 0.80 0.40 0.23 0.25 0.04 0.08 0.11 0.39 0.30 0.05 0.46 28.50 0.00 0.08 4.40 1.59 2.01 0.29 3.93 0.02 1.84 5.33 4.12 0.00 0.00 0.25 0.33 0.12 0.10 18.42 0.01 0.35 0.45 0.04 0.02 0.00 0.03 0.04 0.03 0.31 0.39 0.14 0.00 0.00 0.22 0.04 0.05 0.00 0.03 6.15 0.12 0.06 0.07 12.80 16.51 0.02 0.01 0.05 0.04 0.73 0.53 0.36 0.14 0.10 0.13 0.10 0.00 0.86 1.10 0.10 0.13 0.16 2.45

9.11 0.25 0.07 6.00 0.66 0.85 0.40 0.23 0.29 0.06 0.10 0.12 0.46 0.36 0.07 0.60 33.34 0.09 0.09 5.26 1.74 2.23 0.31 4.96 0.02 1.85 5.81 4.57 0.26 0.01 0.25 0.37 0.12 0.10 19.07 0.01 0.45 0.57 0.05 0.02 0.02 0.03 0.04 0.05 0.31 0.39 0.14 0.18 0.31 0.22 0.05 0.06 0.12 0.03 7.88 0.13 0.06 0.07 14.05 17.90 0.04 0.02 0.06 0.05 0.80 0.60 0.43 0.17 0.12 0.16 0.12 0.07 0.95 1.23 0.11 0.14 0.17 2.79

+ + unch + + + + + + + + unch + + + + + + + + unch unch + unch + + + unch + unch + unch unch + + + unch unch unch + + + + unch + unch + + + + + + + + + +

(100s)

High Low

Exc Volume

Week High

Low

180 229 496 65 449 186 43 230 105 7 63 155 44 5945 291 604

0.06 0.31 0.40 0.13 0.14 0.20 0.20 0.15 0.11 0.45 0.30 0.40 0.25 0.32 0.19 0.15

0.05 0.24 0.34 0.08 0.11 0.18 0.10 0.00 0.09 0.00 0.28 0.36 0.20 0.24 0.00 0.12

V 2790 O 409 O 1044 T 4860 C 265 O 86 V 440 V 36 O 856 V 589 C 125 V 57 T 3512 O 992 V 310 O 85 C 1105 O 117 C 858 V 81 V 268 O 79 V 10 T 1964 X 2307 V 5 O 1208 V 718 T 1736 O 399 V 1 C 745 O 582 O 2 V 1264 O 213 O 1 V 31 V 408 O 35 C 369 T 9770 N 20873 O 107 O 96 V 259 V 23 O 469 V 786 O 2 V 2 V 104 O 758 C 1457 C 564 O 73 V 617 V 437 V 501 V 0 V 1669 O 118 T 540 V 1221 O 144 O 62 V 515 V 218 V 262 T 78 O 18 T 25773 N 149995 O 56 O 230 T 1874 V 675 O 40 V 971 O 692 V 591 V 0 V 483 O 36 V 180 V 2 O 0 V 0 V 413 O 110 V 181 O 115

0.09 0.08 0.34 0.43 0.14 0.05 0.07 0.04 0.32 0.41 0.21 0.11 16.77 13.23 0.72 0.08 0.11 0.06 0.07 1.20 1.32 2.63 0.07 2.64 2.07 0.19 0.33 0.42 0.48 0.35 0.12 2.97 2.52 1.74 0.50 0.39 0.10 0.13 0.23 0.17 0.13 64.63 50.34 0.02 0.55 0.70 0.08 3.20 0.65 0.13 0.17 0.07 0.04 0.05 0.16 0.21 0.28 0.28 0.78 0.00 0.05 0.03 0.03 0.11 0.08 0.17 0.22 0.06 0.05 1.16 0.92 7.39 5.76 3.02 0.04 0.07 0.99 0.74 1.30 2.02 0.42 0.00 0.16 0.12 0.23 0.45 0.00 0.00 0.15 0.12 0.22 0.15

23

12-month

Last

Change

0.05 0.24 0.35 + 0.09 0.11 0.18 + 0.15 unch 0.12 + 0.11 + 0.45 + 0.30 + 0.38 + 0.24 + 0.30 + 0.19 + 0.15 +

High Low

0.01 0.03 0.01 0.01 0.01 0.01 0.00 0.01 0.02 0.05 0.03 0.03 0.02 0.03 0.03 0.03

0.17 0.55 0.67 0.19 0.24 0.36 0.32 0.23 0.25 0.50 0.55 0.68 0.80 0.42 0.30 0.50

0.01 0.22 0.30 0.06 0.08 0.11 0.00 0.08 0.03 0.30 0.20 0.25 0.10 0.13 0.09 0.07

0.02 0.01 0.02 0.03 0.00 0.00 0.01 0.01 0.02 0.03 0.05 0.01 0.39 0.28 0.03 0.01 0.01 0.00 0.01 0.03 0.05 0.08 0.01 0.16 0.12 0.03 0.03 0.02 0.05 0.07 0.01 0.64 0.51 0.08 0.04 0.04 0.00 0.00 0.04 0.01 0.00 1.81 1.37 0.00 0.01 0.01 0.01 0.03 0.08 0.00 0.00 0.01 0.00 0.01 0.01 0.02 0.01 0.06 0.08 0.00 0.01 0.02 0.00 0.00 0.01 0.00 0.01 0.00 0.00 0.07 0.05 0.40 0.31 0.24 0.00 0.01 0.12 0.11 0.10 0.03 0.15 0.00 0.01 0.00 0.02 0.03 0.00 0.00 0.01 0.01 0.00 0.00

0.13 0.11 0.64 0.68 0.22 0.10 0.10 0.07 0.56 0.70 0.79 0.15 16.77 13.23 1.22 1.00 1.24 0.08 0.10 1.46 1.46 2.63 0.13 3.35 2.83 0.49 0.76 0.96 0.48 0.35 0.17 4.18 3.28 1.75 0.80 0.66 0.18 0.22 0.39 0.32 0.33 64.63 50.34 0.12 0.66 0.85 0.16 3.20 2.14 0.29 0.36 0.13 0.12 0.15 1.34 0.40 0.36 1.14 1.05 0.09 0.12 0.10 0.11 0.25 0.19 0.32 0.40 0.14 0.16 1.38 1.15 7.39 5.76 3.02 0.06 0.07 1.20 3.38 1.71 2.02 0.75 0.25 0.21 0.17 0.30 3.00 1.27 0.05 0.23 0.19 0.27 0.21

0.04 0.01 0.23 0.31 0.01 0.01 0.05 0.03 0.12 0.15 0.16 0.06 7.78 6.24 0.13 0.05 0.08 0.04 0.05 0.90 0.70 1.51 0.05 1.49 1.18 0.14 0.08 0.11 0.15 0.07 0.12 1.15 0.90 1.15 0.33 0.27 0.08 0.10 0.16 0.14 0.10 45.76 36.39 0.01 0.37 0.45 0.06 0.90 0.43 0.01 0.11 0.05 0.03 0.04 0.13 0.00 0.15 0.23 0.29 0.04 0.03 0.01 0.02 0.06 0.04 0.12 0.16 0.05 0.03 0.84 0.65 4.78 3.70 1.08 0.01 0.04 0.25 0.03 0.52 0.45 0.16 0.08 0.12 0.10 0.20 0.40 0.01 0.05 0.10 0.08 0.17 0.03

W-Z 0.07 0.06 0.27 0.35 0.14 0.04 0.00 0.00 0.26 0.34 0.20 0.00 15.02 11.71 0.67 0.06 0.09 0.04 0.06 1.13 1.15 2.45 0.00 2.35 1.83 0.00 0.28 0.34 0.38 0.30 0.00 2.14 1.68 1.66 0.43 0.33 0.00 0.00 0.19 0.14 0.11 59.02 46.01 0.01 0.51 0.67 0.00 2.86 0.52 0.00 0.00 0.00 0.03 0.00 0.13 0.18 0.23 0.22 0.68 0.00 0.04 0.01 0.00 0.08 0.06 0.15 0.19 0.00 0.00 1.04 0.81 6.54 5.12 0.00 0.04 0.05 0.76 0.61 0.00 0.90 0.22 0.00 0.14 0.11 0.00 0.00 0.00 0.00 0.12 0.09 0.00 0.00

0.09 0.07 0.30 0.38 0.14 0.05 0.07 0.04 0.31 0.39 0.20 0.08 16.29 12.78 0.67 0.08 0.10 0.05 0.07 1.17 1.20 2.50 0.07 2.58 2.03 0.19 0.29 0.38 0.43 0.33 0.12 2.74 2.16 1.74 0.46 0.37 0.09 0.11 0.19 0.17 0.12 61.27 48.10 0.02 0.55 0.70 0.08 2.98 0.59 0.13 0.17 0.07 0.03 0.05 0.15 0.19 0.23 0.23 0.69 0.04 0.04 0.03 0.03 0.08 0.07 0.15 0.21 0.05 0.05 1.11 0.87 7.01 5.52 2.76 0.04 0.07 0.98 0.73 1.20 1.00 0.36 0.09 0.15 0.12 0.23 0.45 0.36 0.05 0.13 0.09 0.20 0.15

+ + + + unch + + + + + + + + + + + + + + + + + + + + + unch + unch + + + + + + + + unch + + + + + unch + + unch unch + unch unch + + + + + unch + + + + unch + + + unch unch + unch unch

BID-ASK — MARCH 7–11, 2022 12-MONTH STOCK

Athena Aftermath Silv Alacer Gold Amilot Capital Aquila Res Archer Explor Arcturus Vent Ashanti Sanko Atlanta Gold AUQ Gold Aurelius Min Aurex Energy Aust Goldfield Avarone Metals Aya Gold Baden Res Banro Corp* Boss Power Brunswick Res Bullion Gold Burrell Res C2C Gold Cache Explor Cadillac Vent Canamera Energ Cerro de Pasc Cirrus Gold Cliffs Nat Res* CNRP Mng Corvus Gold* Crystal Peak EEE Explor Electra Stone Equitorial Ex Everton Res Evolution Glob Evolving Gold Excalibur Res Exploits Disc

EXC

BID

ASK

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

0.08 0.24 9.41 ... ...

0.30 0.02 0.03 0.03 0.33 0.13 0.04 ... ...

1.94 0.13 0.11 0.17 ...

0.06 0.20 ...

0.16 0.05 0.38 ...

0.20 1.45 0.19 ...

0.01 0.16 0.01 0.08 0.10 0.50 0.30 0.09 ...

0.14 0.25 9.52 ... ...

0.45 0.03 0.03 0.04 0.40 0.14 0.06 ... ...

2.19 0.16 0.11 0.20 0.05 0.15 1.00 ...

0.17 0.06 ... ...

0.35 3.20 0.20 ...

0.02 0.19 0.02 0.08 0.10 4.00 0.59 0.10 ...

12-MONTH

LAST

HIGH

LOW

STOCK

0.14 0.25 9.47 0.04 0.09 0.45 0.03 0.03 0.03 0.40 0.14 0.05 0.47 0.04 2.01 0.13 0.11 0.17 0.03 0.10 0.25 0.11 0.16 0.05 0.37 0.29 0.30 1.43 0.19 3.21 0.01 0.18 0.01 0.08 0.03 2.00 0.35 0.10 0.59

0.30 0.33 10.82 0.08 0.14 1.25 0.04 0.06 0.04

0.10 0.05 3.50 0.04 0.06 0.08 0.02 0.02 0.03

0.15

0.03

0.47 0.15 2.50 0.20 2.10

0.42 0.03 0.82 0.13 0.10

0.28 0.53 0.15 0.21 0.12 0.50 0.34 0.30 7.17 0.61 3.30 0.10 0.25

0.01 0.20 0.03 0.14 0.05 0.27 0.12 0.12 0.98 0.18 1.72 0.01 0.15

0.17

0.07

1.05 0.11 0.62

0.28 0.01 0.13

Explorex Res Finore Mng GAR Limited General Moly* Genius Metals Gespeg Res Gldn Predator Global Cop Grp Gold Hunter Rs Goldbelt Emp Goldblock Cap Golden Cariboo GoldHaven Res Goldshore Res Green Arrow Handa Mining Highvista Gold Indico Res Inspiration Mg Intl Battery Intl Cobalt Iron South Mng Ivor Explor K9 Gold Karora Res Kirkland Lake* Kodiak Copper La Imperial Latin Metals Leo Res Lida Resources Lithium South MAG Silver* Mansa Explor Mechel* Meryllion Res MGX Minerals Mich Resources Minecorp Egy

EXC

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

BID

...

0.12 ... ... ...

0.06 0.15 0.07 0.35 0.02 ...

0.10 ... ...

0.02 0.04 ... ... ... ...

0.20 0.24 0.39 0.17 0.47 ...

0.05 0.04 0.03 ... ...

0.31 12.52 0.25 ... ...

0.05 0.37 ...

12-MONTH

ASK

LAST

HIGH

LOW

STOCK

6.50 0.12 ... ... ...

0.06 0.17 0.08 0.40 0.02 ...

0.12 ...

375.00 0.03 0.05 ...

0.01 ... ...

0.25 0.27 0.69 0.24 0.48 ...

0.06 0.05 0.04 ... ...

0.34 13.30 0.25 ... ...

0.05 0.50 ...

2.85 0.11 0.15 0.11 0.22 0.06 0.16 0.08 0.37 0.02 0.32 0.10 0.42 0.11 0.02 0.04 0.17 0.01 0.03 0.31 0.26 0.24 0.38 0.24 0.48 38.92 0.05 0.04 0.03 1.09 0.24 0.31 12.52 0.19 2.25 0.08 0.05 0.37 0.12

10.50

2.85

4.13 100.00 0.28

0.13 0.10 0.17

0.36 0.11 0.60 0.02 0.32 0.15 0.45 1.20 0.04 0.05

0.12 0.04 0.28 0.02 0.26 0.02 0.06 0.48 0.02 0.04

Montana Gold Montego Res Napier Vent Navis Res Corp New Klondike Nexco Res North Valley O2Gold Orocobre Otso Gold Patriot Batt Phenom Res Primary Energy Prospero Silvr Quaterra Res Quinto Res Rare Element* Razore Rock Res Reliant Gold Rockland Mnls Southern Arc Southstone Min Standard Lith Supernova Met Tiger Intl Trench Metals TriMetals Mng Trinity Valley Vale* ValOre Metals Vatic Vent West Oak Gold Whitemud Res Winshear Gold Xiana Mng Zara Res Zinco Mng

0.50 0.28 0.40 0.28 0.73 46.98 0.13 0.10 0.16

0.20 0.04 0.30 0.16 0.20 31.72 0.04 0.04 0.02

0.27 0.66 14.40 0.22 5.19 0.17 0.16 0.48 0.20

0.13 0.24 6.12 0.11 1.58 0.05 0.04 0.24 0.07

EXC

BID

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

0.09 0.02 0.06 ...

0.01 ...

0.07 0.23 ...

0.04 0.09 0.68 ...

0.55 0.15 0.05 0.11 0.11 ...

0.07 0.32 0.01 6.65 0.05 ...

0.55 0.11 ... ...

0.06 0.05 0.12 0.01 0.12 0.07 ...

0.05

ASK

0.10 0.02 ... ...

0.01 ...

0.12 0.27 ...

0.04 0.10 0.71 ...

1.18 0.17 0.07 0.16 0.16 0.10 0.08 0.90 0.01 6.95 0.06 0.17 0.55 0.12 ... ...

0.07 ...

0.15 0.02 0.14 0.08 ...

0.07

LAST

0.10 0.02 0.07 0.30 0.01 0.30 0.10 0.23 8.28 0.04 0.10 0.69 0.17 0.56 0.16 0.08 0.15 0.11 0.02 0.08 0.89 0.01 6.95 0.06 0.15 0.55 0.12 0.04 10.24 0.07 0.10 0.15 0.02 0.14 0.08 0.07 0.05

HIGH

LOW

0.10 0.05

0.02 0.02

0.35 0.10 0.37 9.30 0.10 0.18 0.76 0.82 1.35 0.30

0.20 0.06 0.06 3.89 0.03 0.08 0.24 0.16 0.51 0.06

0.89 0.16

0.06 0.11

0.11 0.93 0.04 6.95 0.08 0.20 0.22 0.12 0.14 11.10 0.13

0.01 0.24 0.01 1.02 0.05 0.07 0.04 0.03 0.04 6.57 0.07

0.19 0.03 0.15 0.12 0.22

0.11 0.01 0.05 0.07 0.07

24

WWW.NORTHERNMINER.COM

MARCH 21—APRIL 3, 2022 / THE NORTHERN MINER

JUNE 8, 2022

ONE KING WEST HOTEL TORONTO, ON

GUEST SPEAKER

PIERRE LASSONDE

Canadian Mining Hall of Fame Inductee, Chairman & CEO Firelight Investments

SAVE THE DATE

The Northern Miner, The Canadian Mining Hall of Fame and Young Mining Professionals, have come together to organize the Mining Legends Speaker Series.

Alternating between Vancouver and Toronto, each event will bring together professionals from across the industry to share knowledge, network, and discuss the future of the mining.

EVENTS.NORTHERNMINER.COM/SPEAKER-SERIES