The Northern Miner March 19 2018 Issue by The Northern Miner Group

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COLOMBIA, ECUADOR & PERU Juniors chase gold, copper, zinc & more in northwest South America / 9–15

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MARCH 19–APRIL 1, 2018 / VOL. 104 ISSUE 6 / GLOBAL MINING NEWS · SINCE 1915 / $3.99 / WWW.NORTHERNMINER.COM

Bankers on lessons learned, exploration, finance trends

Tianqi to build world’s largest spodumene converter LITHIUM

| New plant could attract more battery makers to Australia

PDAC 2018

| New funding models propelling firms of all shapes and sizes BY TRISH SAYWELL tsaywell@northernminer.com

trategic private placements, private equity and joint-venture partnerships are playing a bigger role in financing exploration and development projects in the mining sector, a group of Canadian bankers agreed during a panel discussion at the Prospectors & Developers Association of Canada convention in Toronto. “It’s a pretty interesting shift both on how juniors are trying to finance their business and also how larger companies are trying to grow,” Chris Gratias of CIBC Capital Markets said in his opening remarks. If you look at the amount of capital raised between 2013 and 2015 by the juniors — companies he categorized as having a less than $500-million market capitalization — 80–85% of it would have come from the public markets or investors, he said, and 15% would have come from strategic private placements. In the last 12–18 months, by contrast, 60% has come from strategic private placements and 40% from the public markets. “Through the last cycle I would say a lot of the development was funded through the equity markets, and I don’t think that will be the case through this next cycle going forward, and that has caused alternative forms of capital to position themselves,” he said. “We’ve seen an increased presence of private equity that is providing alternative forms of capital, we’ve seen pension funds and sovereign wealth funds spending their time in the space, and, very interestingly, we’ve seen the corporates playing a financing role for the junior market. We call these strategic private placements — it’s almost an alternative form of exploration. Instead of doing it in-house, they’re outsourcing it by backing a junior public company.” That doesn’t mean the public marSee PDAC / 6

Tianqi Lithium’s lithium hydroxide processing plant under construction, photographed in January 2018, in Kwinana, Western Australia. TIANQI LITHIUM BY TRISH SAYWELL

tsaywell@northernminer.com

ianqi Lithium Australia, a subsidiary of China’s Tianqi Lithium, has started building a state-of-the-art spodumene converter that will produce batterygrade lithium hydroxide in Kwinana, Western Australia. Initial production is expected by mid-2019, with sales before the end of 2019, according to a new report by Wood Mackenzie, a research and consultancy business for the global energy, chemicals, metals and mining industries. Once in full production, Kwinana will be the largest lithium hydroxide-producing operation and the biggest converter in the world, James Whiteside, a London-based managing consultant at Wood Mackenzie and author of the report, says in an interview. The plant will use high-grade lithium concentrate feedstock sourced from Greenbushes, the hard-rock lithium mine in southwestern Australia that Tianqi acquired in 2013–2014, and jointventured with Albemarle (NYSE:

“IT’S A MASSIVE DIFFERENCE — IT CHANGES THE FACE OF THE INDUSTRY ... LOWER CONVERSION COSTS AT INTEGRATED PRODUCERS COULD CHANGE THE COST STRUCTURE OF THE ENTIRE LITHIUM-MINING INDUSTRY.”

PM40069240

JAMES WHITESIDE MANAGING CONSULTANT, WOOD MACKENZIE

ALB), the mine operator. Greenbushes’ current capacity is 80,000 tonnes of lithium carbonate equivalent (LCE), with plans to expand to 180,000 tonnes LCE in the early 2020s, Whiteside says in his research note. The mine produces multiple spodumene concentrates and they average 6% lithium oxide. Then, at Kwinana, the concentrate will be converted to lithium hydroxide, which can be used in battery materials for the electric vehicle and energy-storage markets. The new plant is “likely to change the cost profile for lithium conversion,” Whiteside says. “All spodumene conversion cur-

rently happens in China, where total conversion costs are around US$6,000 per tonne for lithium hydroxide,” Whiteside says, adding that China has to import most of the spodumene it requires, which contributes to the higher cost. At the moment, making lithium hydroxide from hard rock spodumene mines and brines is fifty-fifty, Whiteside tells The Northern Miner, but by 2025 he says two-thirds of it will come from spodumene operations. With lithium brine operations, he says, the lithium is processed into carbonate first. See TIANQI / 2

ECUADOR: MINES MINISTER SEEKS TO ELIMINATE WINDFALL TAX / 13

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An aerial view of Tianqi Lithium and Albemarle’s Greenbushes lithium mine in southwestern Australia. TIANQI LITHIUM

David Alexander Glen Bending December 12, 1954 - December 16, 2017 David was born in Chicoutimi, Quebec in 1954 to Glenville Charles Bending and Beatrice Elizabeth Long. He earned a B.Sc. Geology at the University of Oregon and a M.Sc. Geology and Geochemistry at the University of Toronto in 1983 where he had the good fortune to work under the supervision of professor Frank W. Beales. David then embarked on a successful career of international mineral exploration and development. He worked with major companies such as Rio Tinto, Texasgulf and was Latin America exploration manager with Homestake Mining from 1993 to 1998. He formed Gold Exploration Management, Inc. in 2010 and spent decades innovatively pursuing strategic mineral exploration and development throughout the world, particularly in the Americas. His resume points to significant discoveries in Latin America. David was a critical thinker and he had a passion to succeed. He shared his passion for geology and inspired colleagues along the way with his dedication and enthusiasm to the industry. His history as an exploration geologist was characterized by his drive, his leadership and entrepreneurial spirit. Everyone who knew him would expect a memorable experience while on a field trip. His exploration journeys expanded well beyond regular work hours. He was also active in management and board functions for junior public companies in Canada and the US. He became recognized by experts in the field for his ability to identify overlooked opportunities. His Pend D’Oreille LeadZinc thesis won the CIM President’s Gold Medal Award in 1983 for the best thesis in Canada. He was a licensed Professional Geologist in British Columbia. He was also recognized in 2017 for 25 years of success and contributions to the profession by the Society of Economic Geologists. David’s predominant goal was to provide for his family. While work led him to travel extensively, he had his family accompany him overseas whenever possible. Many joyful and memorable travel experiences brought the family together. David loved the water; swimming, raising angel fish, snorkeling. While he was taken too soon, it is fitting that he spent his last day at sea enjoying his life-long passion – recreational fishing. He is survived by his beloved spouse Ginette and his children Michael and Katherine. David will be fondly remembered and greatly missed. A memorial service will be held March 24th, 2018 at 1:00PM at The Covenant Presbyterian Church, 6695 Mae Anne, Reno NV. Contributions can be made in David’s name to the American Heart Association.

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Tianqi’s spodumene converter TIANQI From 1

“Brine goes to carbonate and is further processed to hydroxide, whereas in spodumene processing, you can skip the carbonate phase and produce hydroxide directly. “Total costs for producing lithium hydroxide from spodumene are around US$500 per tonne lower than for producing carbonate. Hydroxide contains less lithium than carbonate so less spodumene feedstock is required, and energy consumption at the calcination stage is lower.” Having integrated and local spodumene supply from Tianqi and from projects that are expected to come on stream, such as Nemaska Lithium’s (TSX: NMX) Whabouchi spodumene mine in Quebec, will also lower the costs of inputs at both operations, he says. Estimates are that it will cost between US$1,500 and US$2,000 per tonne to produce a tonne of lithium hydroxide at Whabouchi and Kwinana, Whiteside says, while it will cost Chinese producers US$6,000 per tonne. “It’s a massive difference — it changes the face of the industry,” he

Tianqi Lithium’s lithium hydroxide processing plant under construction. TIANQI LITHIUM

says. “If these forecasts are proven correct, lower conversion costs at integrated producers could change the cost structure of the entire lithiummining industry.” More than 95% of cathode material production and manufacturing capacity is in Asia. But China has the highest-cost spodumene mines in the world, and they have to pay

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market prices and freight for transporting spodumene from Australia. “Their lithium content isn’t anywhere like what you’d get in Australia,” Whiteside says of China’s spodumene mines, which are quite small. “At Greenbushes, head grades get up to 2% lithium oxide, which is very high,” he says. “In China, they are mining at grades of 0.4% to 0.8% lithium oxide.” That means that battery makers could set up shop in Australia in greater numbers. As soon as Kwinana is in production, Australia will have all the precursor materials needed to make a high-performance cathode for a lithium-ion battery — lithium hydroxide, cobalt hydroxide and nickel sulphate. According to Whiteside, Energy Renaissance is planning a 1 GWh capacity, battery-making plant in Darwin, and Magnis Resources is considering a 15 GWh plant in Townsville. The Greenbushes spodumene mine, is the largest active lithium mine in the world. TNM

2018-03-13 8:40 PM

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THE NORTHERN MINER / MARCH 19–APRIL 1, 2018

Acoustic Zoom wins Goldcorp’s #DisruptMining competition PDAC 2018

| 3-D seismic imaging technology gets $1M investment

BY NORTHERN MINER STAFF

t a splashy event held at a warehouse-style Toronto nightclub, mining technology firm Acoustic Zoom took first place in the finale to Goldcorp’s (TSX: G; NYSE: GG) #DisruptMining 2018 competition, which culminated in four finalists pitching their technological innovations to a live audience and a panel of five judges in a Dragon’s Den-style showdown. Serving as judges were: Veronica Knott, University of British Columbia Mining Engineering student and 2017 Engineers Canada Gold Medal Student Award recipient; Rob McEwen, founder and CEO of McEwen Mining; George Salamis, president & CEO of Integra Resources; Wal van Lierop, president and CEO of Chrysalix Venture Capital; and Todd White, chief operating officer of Goldcorp. The first-place prize is an opportunity to negotiate a contract or investment of up to $1 million with Goldcorp. Accounting firm KPMG was cohost, and Sudburybased equipment maker and robotics innovator Hard-Line Solutions was also a major sponsor. Acoustic Zoom won with its ideas on improved, ultra high-frequency, 3-D drill hole seismic imaging. Acoustic Zoom’s CEO and Chief Scientist Jacques Guigne has de-

First-place winner Jacques Guigne (far right), Acoustic Zoom CEO, and Gary Dinn, vice-president of marketing, answer questions from the judging panel during Goldcorp’s Disrupt Mining event in Toronto. GOLDCORP

scribed his firm’s technology as giving mining companies a capability to “map deep within the earth’s microstructure, helping exploration teams drill smarter, guide planning and achieve investment value quick.” The firm had been a semi-finalist in the same competition last year, and spent the intervening period fine-tuning its technology. Goldcorp chief operating officer

White said in a release that each of the finalists “brought something unique to the challenge, making the deliberation process difficult for the judges. It was crystal clear at the #DisruptMining finale that disruptors are responding to our call to innovate. Goldcorp CEO David Garofalo announced that net proceeds of $230,000 from the #DisruptMin-

ing live finale will be granted towards mining, innovation and technology scholarships to the University of British Columbia over the next three years. Goldcorp and KPMG also pledged $100,000 to a charity named HEROS that helps at-risk youth play hockey. The other three finalists out of more than 100 submissions were: EnviroLeach Technologies, which it

says has “developed the world’s only safe, stable, sustainable, eco-friendly and economic alternative to cyanide”; LlamaZOO Interactive Inc., which has created the “MineLife VR” virtual-reality software platform; and Open Mineral AG, founded by former Glencore executives to “digitize the relic practices of physical commodity trading that has operated the same way for decades.” TNM

JOINT VENTURE ARTICLE

AbraPlata Pursues Strategic Partner following Positive PEA in Argentina AbraPlata Resource Corp. (TSXV: ABRA) has tabled a positive preliminary economic assessment (PEA) on its 80 sq. km Diablillos silvergold project in Argentina’s Salta Province, 150 km southwest from the city of Salta. The PEA features strong economics, with an after-tax net present value (NPV) of US$197 million at a 7.5% discount rate, an after-tax internal rate of return of 30.2%, and a 3-year pay-back. The project could produce 9.8 million oz. of silver equivalent each year at an all-in sustaining cost of US$7.52 per oz. silver equivalent. AbraPlata bought the proj ect in 2016 from SSR Mining (TSX: SSRM), and AbraPlata President and CEO Willem Fuchter says the acquisition was “fortuitous because we were able to get it when market valuations were low.” He says SSR had done “considerable work” on the property already, spending over US$30 million on engineering, metallurgical testing and geotechnical work. It provided AbraPlata with a solid technical foundation on which to build its recent PEA. As of an August 2017 resource estimate, Diablillos contains 27.1 million indicated tonnes grading 93.1 grams silver per tonne and 0.84 gram gold for 80.9 million oz. silver and 732,000 oz. gold (or 139 million oz. silver-equivalent). The deposit’s epithermal mineralization is mostly found in the centre of the system at the Oculto deposit. The company says 95% of its resource comes from Oculto, however it still has several satellite deposits it’s in the process of drilling.

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Drilling the Fantasma zone at AbraPlata Resource Corp.’s Diablillos silver-gold project in Argentina’s Salta Province, with the Oculto zone in the background. Credit: AbraPlata Resource Corp. One such deposit is Fantasma, which lies 800 metres west of Oculto. It remains open for expansion to the east, and AbraPlata believe s, based on its current understanding of the geology, that Fantasma may extend into Oculto. AbraPlata says satellite deposits might expand the resource by 10%, while in-pit drilling could add another 20-30%. However, the company says the most exciting expansion potential lies in the high grade zone below its current pit shell. AbraPlata devised its mine plan

to optimize the project’s NPV and the plan only accounts for 60% of the resources outlined at Oculto. If the company can expand its in-pit resources, additional resources located beneath the pit shell could become economic. “Some of our drill holes have intercepted grades of up to 17 grams per tonne over 10 metres down there,” explains Fuchter. He describes Oculto as containing feeder zones below the pit shell that have the potential for narrower but higher grade gold mineralization that AbraPlata could

exploit later in the pit’s eight year life through underground mining. AbraPlata intends to deliver a fully permitted project with a feasibility study by the end of 2019. To get there, it aims to first finish a pre-feasibility study (PFS) by the end of 2018. The PFS will require Abr aPlat a to do more dr illing, continue the environmental studies started by SSR, and begin the permitting process. The company is finalizing a 7,500 metre drill program for the rest of the year. The company completed a small financing in January and raised

$2 million. Fuchter says that to complete a pre-feasibility study will require another $7 million. “What we’re looking for given the size of the project is a strategic investor to come in and work with us,” Fuchter says. “If we did it on our own we could become a mid-tier producer, but that’s going to take a lot of capital. The type of strategic investor we’d be looking for is someone who has a track record of building mines in Latin America and has operational experience within Latin America.” AbraPlata also has three earlystage copper porphyry exploration properties in Argentina. It’s looking to form joint-venture agreements to continue developing them. Shares of AbraPlata are currently valued at 18¢ with a 52-week range of 17¢ to 63¢. The company has a market capitalization of $14 million. “When you look around Latin A m e r ic a , yo u’ve got a c o up l e of big silver projects, but most other things that are development stage are much smaller than this,” Fuchter says. “They’re typically underground operations, and often in jurisdictions that take a long time to permit. So to have 10 million oz. of annual production potential that we think we can permit fairly quic kly and have t his leve l of production — I think that’s very hard to find.” — The preceding Joint Venture Article is promoted content sponsored by AbraPlata Resource Corp. and written in conjunction with The Northern Miner. Visit www. www. abraplata.com to learn more.

2018-03-13 8:40 PM

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E D I T O R IA L

New DRC tax rates Global exploration spending on the chasten foreign rebound, study finds miners ROYALTIES

GROUP PUBLISHER/ PUBLISHER: Anthony Vaccaro, CFA, MBA avaccaro@northernminer.com EDITOR-IN-CHIEF: John Cumming, MSC (GEOL) jcumming@northernminer.com SENIOR STAFF WRITER: Trish Saywell, BA, MA, MSC (JOUR) tsaywell@northernminer.com STAFF WRITERS: Lesley Stokes, BSC (GEOL) lstokes@northernminer.com Richard Quarisa, BA, MA (Jour & Comm) rquarisa@northernminer.com COPY EDITOR: Isa Cunanan, BSC (Health Sci. and Prof. Writing Comm.) icunanan@northernminer.com PRODUCTION EDITOR: David Perri, BA dperri@northernminer.com ONLINE EDITOR: Adrian Pocobelli, MA (ENGL) apocobelli@northernminer.com EDITOR, DIAMONDS IN CANADA: Alisha Hiyate, BA (POLI SCI, HIST) ahiyate@northernminer.com ADVERTISING: Joe Crofts (416) 510-6816 jcrofts@northernminer.com Michael Winter (416) 510-6772 mwinter@northernminer.com SUBSCRIPTION SALES/ APPOINTMENT NOTICES/ CAREER ADS George Agelopoulos (416) 510-5104 (Toll free) 1-888-502-3456, ext. 43702 gagelopoulos@northernminer.com PRODUCTION MANAGER: Jessica Jubb (416) 510-5213 jjubb@glacierbizinfo.com CIRCULATION/CUSTOMER SERVICE: Laura Arnold (416) 510-5135 (Toll free) 1-888-502-3456 northernminer2@northernminer.com REPUBLISHING: (416) 510-6768 moliveira@northernminer.com ADDRESSES: Toronto Head Office: 38 Lesmill Road, Unit 2 Toronto, ON, M3B 2T5 (416) 510-6789 tnm@northernminer.com Western Bureau: 303 West 5th Avenue Vancouver, BC, V5Y 1J6 (604) 688-9908 SUBSCRIPTION RATES: Canada: C$120.00 one year; 5% G.S.T. to CDN orders. 7% P.S.T. to BC orders 13% H.S.T. to ON, NF orders 14% H.S.T. to PEI orders 15% H.S.T. to NB, NS orders U.S.A.: US$120.00 one year Foreign: US$157.00 one year GST Registration # 809744071RT001 (ISSN 0029-3164) CANADA POST: Return undeliverable Canadian addresses to Circulation Dept. c/o The Northern Miner 38 Lesmill Road, Unit 2 Toronto, ON M3B 2T5 Publication Mail Agreement #40069240 Periodicals Postage Rates paid at Niagara Falls, NY, 14304. U.S. office of publication 2424 Niagara Falls Blvd, Niagara Falls, N.Y. 14304. U.S. POSTMASTER: send address corrections to: Northern Miner Box 1118 Niagara Falls, N.Y. 14304.-7118

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O P- E D

| Industry’s last-ditch charm offensive fails to dissuade gov’t

n the mining world there’s no better epitome of a high-reward, high-risk jurisdiction than the Democratic Republic of the Congo (DRC), with its array of superb mineral deposits, but a political scene that periodically dips into warfare and anarchy. Mining in the DRC leaned towards higher risk on March 10, as Congolese President BY JOHN CUMMING jcumming@northernminer.com Joseph Kabila signed into law a new mining code that raises royalty rates across the board on mined minerals, and implements other restrictive taxes and mineral policies. The royalties are rising to 3.5% from 2% for copper; 3.5% from 2.5% for gold; and possibly to 10% from 2% for cobalt, if the government deems the metal to be a “strategic substance.” With cobalt prices on the rise, the DRC producing more than 60% of the world’s cobalt (73,940 tonnes last year) and the metal becoming an integral component of batteries for the booming electric vehicle market, it’s hard to see what would stop the DRC government from declaring cobalt a strategic metal. The temptation for such tax revenue is too great. The new law also puts into place a 50% windfall, or “super-profits” tax, that would kick in on income realized when commodity prices hit 25% above levels in the project’s bankable feasibility study. Another major change in the code is a doubling of the government’s free carried interest in mining projects to 10%. Under earlier versions of the mining code that passed through the DRC parliament and senate in December and January, miners already active in the country were to have been granted a 10-year “stability clause” that would have protected them from changes to the fiscal and customs regime, with the new rules applying only to newcomers to the country and new mines. But the law passed by President Kabila does away with the stability clause and exposes all miners in the country to the higher taxes. The new code has been vigorously opposed, and on March 7 there was an unprecedented meeting in Kinshasa for almost six hour between the DRC government and top foreign miners. President Kabila had stipulated that the heads of the companies with the largest mines or development projects in the DRC must appear in person. Those attending the meeting included Ivanhoe Mines chair Robert Friedland, Glencore CEO Ivan Glasenberg, Randgold Resources chief executive Mark Bristow and China Molybdenum executive chair Steele Li. Clearly, the foreign miners’ combined personal persuasion powers and business heft failed to sway President Kabila, and the new mining code was signed into law with no changes. “The president of the Republic assured the mining operators that they are economic partners of the Democratic Republic of the Congo and their concerns will be taken account of through a constructive dialogue with the government, after the promulgation of the new mining law,” DRC Mines Minister Martin Kabwelulu stated after the meeting. Kabwelulu told reporters the companies’ concerns would be addressed on a “case-by-case basis” and that after the code was declared, the government would wait for mining companies to send their concerns, which would be re-examined by government experts. In January, Randgold had threatened to take the Congolese government to international arbitration if the new mining law was instituted without sufficient consultation. Randgold operates the large Kibali gold mine in the DRC’s northeast. The DRC government has consistently disputed the foreign companies’ claims that the new mining code will make their operations in the country unprofitable. (For comparison, Glencore enjoyed record profits of US$5.8 billion in 2017, up 319% from 2016.) In many ways the new DRC mining code is competitive with many other mining countries, but the DRC’s risk profile is chronically higher (13.1 million Congolese need humanitarian assistance and 7.7 million face severe food insecurity, twice as many as last year), which could mean a cooling of interest in doing business in the country. But Kabila has bigger problems: his presidential mandate expired at the end of 2016 but he has so far refused to step down, and an oft-delayed election to replace him is now set for December. Some observers suggest he is delaying the election to have a referendum that would let him run for a third term. TNM

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

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

COMPANY INDEX Adventus Zinc . . . . . . . . . . 9 Albemarle. . . . . . . . . . . . . . 1 Altius Minerals. . . . . . . . . 10 AngloGold Ashanti. . . . . 14 Antioquia Gold . . . . . . . . . 9 Atico Mining . . . . . . . . . . 14 Aurania Resources. . . . . . 11 B2Gold. . . . . . . . . . . . . . . . 14 Barrick Gold. . . . . . . . 14,15 Continental Gold. . . . . . . 14

Dynacor Gold Mines. . . . 12 Equinox Gold. . . . . . . . . . 11 Franco Nevada. . . . . . . . . 15 Goldcorp. . . . . . . . . . . . . . . 3 GoldMining . . . . . . . . . . . 15 Gran Colombia Gold . . . 14 Hochschild Mining. . . . . 15 Iamgold. . . . . . . . . . . . . . . 14 Lundin Gold. . . . . . . . . . . 10 Lupaka Gold. . . . . . . . . . . 15

Nemaska Lithium . . . . . . . 2 Newmont Mining . . . . . . 14 Panoro Minerals. . . . . . . . 11 Red Eagle Mining . . . . . . 14 Salazar Resources. . . . . . . . 9 Sierra Metals. . . . . . . . . . . 11 SolGold. . . . . . . . . . . . . . . 11 Tahoe Resources . . . . . . . 11 Tianqi Lithium. . . . . . . . . . 1 Toachi Mining. . . . . . . . . 11

FACTS ‘N’ FIGURES

| Report predicts more exploration spending for 2018

The following is an edited excerpt from the World Exploration Trends report, released by S&P Global Market Intelligence. To see the full report, visit www.spglobal.com/ marketintelligence.

hings are looking up for the exploration sector: global spending on the search for non-ferrous metals rose an estimated US$8.4 billion in 2017, compared with US$7.3 billion in 2016. This represented the first annual increase in exploration spending after four years of declining investment in the search for non-ferrous metals. Our research documented stronger exploration throughout the year. Improved equity-market support for explorers — including many that were dormant during the downturn — helped companies launch or resume drill programs on their most promising projects. Although the focus was on gold, exploration targeting base metal assets also rebounded in the second half of the year. As a result, our measure of exploration sector activity reached levels not seen since early 2013. In the last quarter of 2017 there was a sharp increase in reported drill results, and financings closed the year on a high note. With the positive trend in metal prices extending into early 2018, we expect the global exploration budget for 2018 will increase another 15% to 20% year-over-year, with emphasis on early-stage efforts. There are potential headwinds, however — such as ongoing instability in global and national politics, and emerging market volatility — that could have a negative impact, not just on exploration budgets, but on the mining sector in general. Canada, Australia, US lead The traditional top-three destinations for exploration spending — Canada, Australia and the U.S. — led again in 2017. With allocations totalling US$5.55 billion, the top-10 countries accounted for 70% of the US$7.95-billion global surveyed total. Budgets were recorded for 118 countries in 2017, on par with 119 in 2016. Canada was first for the sixteenth straight year, with 13.8% of the global budget. But its lead over second-place Australia dwindled year-over-year to less than US$25 million. Ontario took 28% of Canada’s total, followed by Quebec at 21%. With gold allocations up 35% in 2017, the metal’s share of the Canadian total jumped to 62%, from 51% the year before. Australia was a close second with 13.6% of the global budget. Western Australia, by far the most popular state, took 65% of the nation’s total. Gold was again the top target, with a 24% year-over-year increase raising the metal’s share of Australia’s budget to 59%, from 56% in 2016. Budgets for gold and copper exploration in the U.S. kept the country’s third-place ranking, with a 7.7% share. Nevada led with 47% of the U.S. total, and three states — Nevada, Arizona and Alaska — together accounted for 73%. By region, Latin America was the most popular, with six countries

CANADA WAS THE TOP DESTINATION FOR EXPLORATION EXPENSES FOR THE 16TH CONSECUTIVE YEAR, WITH 13.8% OF THE GLOBAL BUDGET. — Chile, Peru, Mexico, Brazil, Argentina and Colombia — accounting for 91% of the region’s budget. Gold was the top target for the third year in a row, garnering 44% of regional spending. Our Rest of World group of countries, covering Europe and most of mainland Asia, was led by China and Russia, with allocations of US$387 million and US$336 million. Gold was the region’s top target for the third straight year. Africa attracted 14% of the global budget, focused on the Democratic Republic of the Congo, Burkina Faso, Tanzania and South Africa. Continued interest in West Africa made gold the top target, with the metal’s share of regional spending jumping to 61% from 51% in 2016. Gold drives exploration spending Gold led the way to a higher global budget in 2017, accounting for 73% of the year-over-year increase. The precious metal’s US$4.05-billion allocation was 22% higher than 2016’s US$3.32 billion, increasing its share 3% to account for just over half of the global budget. Base metals (copper, nickel and zinc-lead) were a distant second with 30%, followed by our Other Targets category at 13%. Allocations for uranium and diamonds each accounted for 3%, while platinum group metals accounted for less than 1%. Battery metals exploration surges Spurred by the growing demand for rechargeable batteries and a surge in battery metal prices, a number of junior companies shifted their exploration focus in 2017, dramatically increasing the spending on the search for cobalt and lithium. Our research found 136 companies budgeting almost US$157 million for lithium exploration in 2017, or more than double the 2016 total. Cobaltfocused exploration also jumped, with 52 companies allocating US$36 million in 2017 — more than four times the 2016 budget. Since the first price surge in late 2015, many junior companies have raised funds for lithium-focused exploration or acquisitions. Among all company types, the juniors posted the only lithium budget increase in 2017 — a fourfold jump to US$128 million, nearly doubling their share of the global lithium exploration budget year-over-year to 82%. The world’s largest cobalt producer, the Democratic Republic of the Congo, received one-quarter of the global cobalt exploration budget in 2017. TNM

2018-03-13 8:40 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / MARCH 19–APRIL 1, 2018

Finland takes top spot for investment attractiveness: Fraser STUDY

| Saskatchewan, Nevada take silver and bronze

The following is an edited release by the Fraser Institute on the publication of its 2017 Annual Survey of Mining and Exploration Companies by Ashley Stedman and Kenneth P. Green. For more information, visit www.fraserinstitute.org.

his survey is an attempt to assess how mineral endowments and public policy factors such as taxation and regulatory uncertainty affect exploration investment. The survey was circulated electronically to 2,700 individuals between Aug. 22 and Nov. 10, 2017. Survey responses have been tallied to rank provinces, states and countries according to the extent that public policy factors encourage or discourage mining investment. We received 360 responses for the survey, providing enough data to evaluate 91 jurisdictions. By way of comparison, 104 jurisdictions were evaluated in 2016, 109 in 2015, 122 in 2014 and 112 in 2013. The number of jurisdictions that can be included in the study tends to wax and wane as the mining sector grows or shrinks due to commodity prices and sectoral factors. Investment Attractiveness Index An overall Investment Attractiveness Index combines the Best Practices Mineral Potential Index, which rates regions based on their geologic attractiveness, and the Policy Perception Index, a composite index that measures the effects of government policy on attitudes toward exploration investment. While it is useful to measure the attractiveness of a jurisdiction based on policy factors such as onerous regulations, taxation levels, the quality of infrastructure and the other policy-related questions that respondents answered, the Policy Perception Index alone does not recognize the fact that investment decisions are often sizably based on the pure mineral potential of a jurisdiction. Indeed, as discussed below, respondents consistently indicate that 40% of their investment decision is determined by policy factors. The Top 10 The top jurisdiction in the world for investment based on the In-

The headframe and processing plant at Agnico Eagle Mines’ Kittila mine in northern Finland. AGNICO EAGLE MINES

vestment Attractiveness Index is Finland, which moved up from fifth place in 2016. Saskatchewan experienced a slight drop in its score in 2017, so dropped into second place after ranking first the year before. Nevada moved up from fourth in 2016 to third in 2017. The Republic of Ireland ranked fourth this year, and Western Australia dropped from third in 2016 to fifth in 2017. Rounding out the top 10 are Quebec, Ontario, Chile, Arizona and Alaska. The bottom When considering both policy and mineral potential in the Investment Attractiveness Index, Guatemala ranks as the least attractive jurisdiction in the world for investment. This year, Guatemala replaced the Argentine province of Jujuy as the least attractive jurisdiction in the world. Also in the bottom 10 (beginning with the lowest rated) are Kenya, Mendoza, Chubut, Mozambique, Bolivia, Venezuela, Romania, China and Nicaragua. Policy Perception Index While geologic and economic considerations are important factors in mineral exploration, a region’s policy climate is also an impor-

tant investment consideration. The Policy Perception Index (PPI) is a composite index that measures the overall policy attractiveness of the 91 jurisdictions in the survey. The index is composed of survey responses to policy factors that affect investment decisions. Policy factors examined include: uncertainty concerning the administration of current regulations, environmental regulations, regulatory duplication, the legal system and taxation regime; and uncertainty concerning protected areas and disputed land claims, infrastructure, socioeconomic and community development conditions, trade barriers, political stability, labour regulations, quality of the geological database, security, and labour and skills availability. Top 10 PPI For the fifth year in a row, the Republic of Ireland had the highest PPI score of 100. Ireland was followed by Finland in second, which moved up from fourth the year before. Along with Ireland and Finland the top-10 ranked jurisdictions are Saskatchewan, Sw e d e n , N e v a d a , N o r t h e r n Ireland, Michigan, Wyoming, Quebec, and Newfoundland and Labrador.

COBALT AND LITHIUM EXPLORATION BUDGETS, 2009-2017

The bottom PPI The 10 least attractive investment jurisdictions based on the PPI rankings are (from the lowest rated) Venezuela, Chubut, Zimbabwe, Guatemala,

Democratic Republic of the Congo, China, Philippines, Indonesia, Bolivia and Ecuador, all of which were on the same list last year, except Guatemala, DRC, China and Bolivia. TNM

CAREER OPPORTUNITIES

Department of Earth Sciences Instructor (Geophysics) – Term Position Applications Closing Date: Applications will be considered until the position has been filled. Start Date: September 1, 2018 (flexible) The Department of Earth Sciences at Carleton University invites applications from qualified candidates for a 2-year appointment in geophysics at the rank of Instructor. The candidate will be expected to teach courses, beginning September 1, 2018, in geophysics, geodynamics at the second, third and fourth year levels, and to co-supervise undergraduate Honours student research projects and independent studies. The undergraduate offering of the Department of Earth Sciences, which features a strong fieldwork component, includes B.Sc. programs (Honours, Major and General), as well as a Concentration in Geophysics (Honours). Geophysics forms an essential core requirement of six Earth Sciences programs, combined programs or concentrations, as well as a key component of the well subscribed and increasingly popular B.Sc. Honours program in Earth Sciences with a Concentration in Geophysics. At the graduate level, the Department offers M.Sc. and Ph.D. programs. Together with the Department of Earth Sciences at the nearby University of Ottawa, we form the core of the Ottawa-Geoscience Centre (OCGC), a collaborative research and graduate institution. In addition, the main headquarters of the Geological Survey of Canada, the Canadian Museum of Nature, and several other federal, science-based agencies with whom we collaborate, are also located in the city. Further information about the Department may be obtained at www.earthsci.carleton.ca. The position requires a Ph.D., with evidence of research in a field related to Geophysics, and evidence or demonstrated potential for excellence in teaching. Preference will be given to candidates who have expertise in Applied Geophysics and Environmental Geophysics. Please send application by email to Dr. Dariush Motazedian, Chair, Department of Earth Sciences, Carleton University, 1125 Colonel By Drive, Ottawa, Ontario, K1S 5B6 (Dariush.Motazedian@carleton.ca) and Mrs. Sheila Thayer (SheilaThayer@Cunet.carleton.ca). The competition is closed on April 30th, 2018, or until the position is filled. Applications must be sent electronically in one single PDF file, which includes a curriculum vitae, a cover letter, a teaching dossier with a statement of teaching philosophy, and the names and addresses (including e-mail addresses) of three referees. Please indicate in your application if you are a Canadian citizen or permanent resident of Canada. For more information, please visit www.carleton.ca/provost/2018/ earth-sciences-geophysics-instructor-term/

Data as of January 30, 2018. SOURCE: S&P GLOBAL MARKET INTELLIGENCE

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2018-03-13 8:40 PM

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MARCH 19–APRIL 1, 2018 / THE NORTHERN MINER

Participants discussing exploration and mining financing during the PDAC convention in March, from left: John D. Bridges, executive director and senior analyst, precious metals and coal, JP Morgan; Peter Collibee, managing director and industry head, global mining and metals, Scotia Capital; Egizio Bianchini, vice-chair, global cohead metals and mining, investment and corporate banking, BMO Capital Markets; Chris Gratias, managing director and head, mining global investment banking, CIBC Capital Markets; Ryan Latinovich, managing director and head, Canadian mining and metals, global investment banking, RBC Capital Markets; and Rick McCreary, deputy chair, TD Securities. PDAC

Bankers on lessons learned, exploration, finance trends PDAC From 1

kets aren’t available to raise capital, Gratias added. “They are there — it’s just in smaller size and higher discounts, so it’s expensive capital.” Another trend in the current cycle is that the industry hasn’t seen capital flow back into the actively managed mining funds. “Assets under management for mining specialty funds are down probably 50% from the peak,” Gratias said. “And you probably have half of the number of funds still in existence. You’ve got fewer funds and the ones that are left have less money. They want to be active but they don’t have the money to be active. If they want to buy the dip, they need to sell something. We need to see money flow back into the mining specialty funds.” Peter Collibee of Scotia Capital Inc. pointed out that commodity prices aren’t the problem. “The industry needs to take a good look at itself,” he cautioned. “In terms of rates of return, there have been many, many examples of poor rates

of return. In many cases, significant negative rates of return. People have lost lots of money, so there are some fundamental reasons why the equity markets are as challenged as they are, particularly for juniors and the mid-tier gold space. Risk mitigation through partnerships — both on megaprojects but even on smaller projects — that is part of the industry responding to the demand, and the legitimate demand, from the investing community for better rates of return.” Rick McCreary of TD Securities noted that partnerships in the base metals space have been around for years, and now there are finally signs that gold companies are beginning to understand their importance in terms of sharing risk, taking advantage of synergies and not duplicating costs. Barrick Gold, for instance, has pursued four joint-venture partnerships since it arranged its first with Goldcorp at its Pueblo Viejo mine in the Dominican Republic, he said. Since then, it has partnered with Shandong Gold in a fifty-fifty

Published by:

“THE GOLD SECTOR HAS FINALLY FIGURED OUT IT’S BETTER TO WORK TOGETHER THAN TO COMPETE.” RICK MCCREARY DEPUTY CHAIR FOR INVESTMENT BANKING, TD SECURITIES

joint venture at its Veladero mine in Argentina; is involved in a fiftyfifty joint-venture at the Jabal Sayid project in Saudi Arabia, with Saudi Arabian Mining Co. (Ma’aden); has set up a fifty-fifty joint venture in Papua New Guinea at Porgera, with Zijin Mining; and has teamed up in a fifty-fifty joint venture in Chile, with Antofagasta at Zaldivar. “The gold sector has finally figured out it’s better to work together than to compete, especially when the projects are increasingly difficult, and by putting two people together and/or two assets together, you can

basically reduce the environmental footprint, the capital and improve returns,” McCreary said. Private equity is also playing a greater role than ever before, the bankers agreed. “We now have a number of very, very savvy resource private equity groups, and there are a handful of them that are providing significant amounts of capital, and maybe there will be two handfuls in two years’ time if the market stays at this level,” Scotia Capital’s Collibee said. “They are providing capital across the balance sheet. Their returns have been attractive. Their capital doesn’t come free or cheaply, but it certainly is competitive in the context of what other capital is available.” While there are still some banks providing project financing, many have left that business, and like equity financing, project financing is playing a smaller part. As evidence, Collibee noted that of the US$3 billion of capital needed to fund Lundin Gold’s Fruta del Norte project, Lydian’s Amulsar, Pretium’s Brucejack and Storno-

way’s Renard, 10% came from project finance, 10% or 15% from public markets, and the other 70–80% from private equity funds. “It could be the private equity funds providing traditional debt, streams and putting equity into projects, but that much came out of the private equity market,” Collibee said. “We can see by looking at those four projects how the world has changed.” Egizio Bianchini of BMO Capital Markets (in one of his final appearances for BMO before he departs) agreed. “The way money is raised for exploration is changing. The way money is raised for development is changing … the water is finding different ways to flow downhill.” Risk capital has gone up, he said, but the world needs to invest in junior mining companies — now perhaps more than ever — to meet society’s needs. “We’re heading into a new age of metals. We’re going to need more copper, cobalt, vanadium and scandium. Whatever it is, we’re going to need it.” TNM

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GLOBAL MINING NEWS

THE NORTHERN MINER / MARCH 19–APRIL 1, 2018

BC mining and exploration see resurgence, study finds FACTS ‘N’ FIGURES The following is an edited executive summary from the second annual British Columbia mineral and coal exploration survey conducted by accounting firm EY, B.C.’s Ministry of Energy, Mines & Petroleum Resources and the Association for Mineral Exploration. The survey is based on information collected from 20 prospectors and 175 mineral and coal exploration companies operating in B.C. that represent 219 exploration projects across the province.

fter years of decline, global exploration budgets increased more than 14% in 2017 — the first increase in annual exploration budgets since 2012. This increase is in line with rising, or at least stable, commodity prices since 2016. Globally, gold has led the way, accounting for 73% of the yearon-year increase in worldwide exploration expense. Many of the exploration trends observed globally were also experienced in B.C. in 2017. With an improved commodity price outlook, a stabilizing Canadian market and renewed vigor in the economy, the B.C. mineral and coal exploration industry grew for the first year since 2012. Province-wide exploration spending of $246 million in 2017 was up $41 million, or 20%, from 2016. This expense relates to mining revenues in the province that could approach $9 billion annually. Analysis of survey data found a number of insights, themes and observations for 2017: • G old accounted for 87% ($37 million) of the increase in total exploration expenses in B.C., led by the “Golden Triangle” in the province’s Northwest, which saw an $11-million increase in expenses over last year to $82 million in 2017. Recent infrastructure upgrades — including the Stewart-Cassiar Highway, ocean port facilities at Stewart and a high-voltage transmission line — have been catalysts in the increase in gold and silver exploration in the region. Meanwhile, the historic Cariboo gold belt of the province’s interior saw gold-exploration expenses increase $19 million, or 70%. • E xploration expenses on primary-silver projects more than doubled to $9.8 million, almost all of which occurred in the Golden Triangle. • T he sector is at the end of a 10to 15-year mine development cycle in the province. A number of projects that were approved and funded before the 2012 mining downturn that have supported exploration expenses over the past five years have evolved (or been postponed). Exploration focus has now shifted to less capital-intense grassroots and early-stage exploration. • Notwithstanding the current downturn, the industry provides jobs and contributes economically to communities throughout the province. • E xploration companies show t heir com mit ment to loca l communities and First Nations engagement through targeted activities, investment, employment and procurement. • Z inc exploration rebounded in

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| Zinc exploration up almost 50% to $8.2M

PROVINCE-WIDE EXPLORATION SPENDING OF $246 MILLION IN 2017 WAS UP $41 MILLION, OR 20%, FROM 2016. B.C. in 2017, up almost 50% to $8.2 million, and in line with higher zinc prices. • E xpenses on other base metal exploration — including copper, molybdenum and nickel — was generally in line with 2016 levels. • Exploration expenses were likely inhibited by the historically intense and prolonged wildfire season that was felt across the province and particularly in South Central B.C., leading to project shutdown or delay, and shifting activity to safer regions. • F rom a regional perspective, the province’s Northwest and Southeast regions accounted for more than three-quarters (77%, or $33 million of $41 million) of the increased exploration expenses in the province in 2017, almost entirely due to more exploration activity in their respective gold- and silverproducing regions. • I n contrast, a steep decline in coal exploration expenses in 2017 had an adverse impact on the province’s Northeast region, where exploration spending declined 75% to $2.4 million, almost entirely due to coal. — To access the complete report, visit ey.com/ca/bcminingsurvey.

Workers handling core samples at GT Gold’s Saddle gold-silver project in northern British Columbia. GT GOLD

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MARCH 19–APRIL 1, 2018 / THE NORTHERN MINER

Four Canadian mining giants honoured at CMHF soirée

HONOURS

| Thompson, Gannicott, MacGibbon and Beaty inducted into Canadian Mining Hall of Fame

BY JOHN CUMMING AND TRISH SAYWELL

anada’s mining and mineral exploration community gathered at the Metro Toronto Convention Centre in January for the Canadian Mining Hall of Fame (CMHF)’s 30th annual induction ceremony. With Franco-Nevada chairman Pierre Lassonde serving as master of ceremonies for the 17th year, over 1,225 people were in attendance to celebrate the careers and industry contributions of this year’s four inductees, in order of appearance: Edward G. Thompson, Robert Gannicott, A. Terrance MacGibbon and Ross Beaty. On the occasion of the 30th anniversary, William Roscoe, chair of the CMHF, paid tribute to the late Maurice Brown, the late publisher and editor of The Northern Miner and CMHF inductee, who “conceived of the Canadian Mining Hall of Fame in 1988. He recognized we needed to honour the legendary characters who laid the foundation our business, to inspire the future generations of mining professionals, and to build an enduring source of information about the people who have made significant contributions to mining.” The CMHF also used the milestone anniversary to unveil a new crystal-inspired logo and a new award trophy, as well as a refreshed look to its print communications. Edward G. Thompson The first inductee was Edward Thompson, a fixture of the Toronto mining scene who helped grow Teck Resources and Lacana Mining (now part of Barrick Gold), and served as a director for more than 50 junior companies. In more recent years he helped develop an iron ore mine in Quebec and advanced exploration in northern Ontario’s Ring of Fire region. He has been a leader in expanding the Prospectors & Developers Association of Canada (PDAC)

CMHF inductee Edward Thompson addressed attendees from the podium. KEITH HOUGHTON PHOTOGRAPHY

from a provincial to a global force, and was a founding member of the Canadian Mining Hall of Fame. “He’s just one of those guys that keeps people together — I think the whole industry is like his family,” Teck chairman Norman B. Keevil said in a pre-recorded video shown during the evening. “He’s not a promoter. He’s a true engineer’s engineer. He’s a doer.” Thompson was born in Utterson, Ont., to a family of subsistence farmers and graduated from the University of Toronto with an Engineering Geology degree in 1959, and a Master’s degree in Economic Geology in 1960. He joined the Keevil Mining Group, where he spent a decade exploring and acquiring projects that later became part of Teck, such as Highmont in B.C.’s Highland Valley, the Tribag copper mine in Ontario and the Niobec mine in Quebec. His subsequent years with Lacana saw a dozen mines placed in production, including six mines in Mexico, and the Pinson, Dee, Preble, Marigold, Relief Canyon and Santa

Fe mines in Nevada — including the introduction of heap-leaching techniques. He was a director of Granduc Mines, which participated in highgrade gold discoveries at Brucejack Lake in B.C. during the mid-1980s, recently put into production by Pretium Resources. Thompson was also a director of Freewest Resources in 1981, and later helped it develop the HarkerHolloway gold mine in Ontario. In 2009, Freewest made a chromite discovery in the Ring of Fire, and Freewest was acquired by Cliffs Natural Resources for $239 million in 2010. Thompson also helped Consolidated Thompson-Lundmark Gold Mines finance and develop an iron ore mine in Quebec. The Bloom Lake mine began production in 2009 and was acquired by Cliffs Canada for $4.9 billion in 2011. He has also been a volunteer in many organizations, including the PDAC, CMHF, Mining Matters, the Princess Margaret Hospital in Toronto and the Canadian Red Cross.

Inez Gannicott accepted the award from CMHF director Graham Farquharson, on behalf of the late Robert Gannicott. KEITH HOUGHTON PHOTOGRAPHY

“I’m not too busy these days,” Thompson confided in the video. “Saley and I are just enjoying life and the grandchildren, and doing a fair amount of travelling. I think I’ve earned it.” In his acceptance speech, Thompson said he wanted to “stress the importance of friends and family. In my 60 years in business and various associated organizations, I made hundreds of lifelong friends, which I value very highly. “My family has been the delight of my life, and especially now my seven grandkids … My wife Marie, who passed away nine years ago, was really the rock that kept our family together as I travelled the world. My second wife Saley is a wonderful partner in the second phase of my journey. I’ve been very fortunate to know the love of these two wonderful ladies over my lifetime.” Robert Gannicott The second inductee was Robert Gannicott, a pioneer of Arctic mineral exploration who played a key role in the discovery and development

Franco-Nevada chairman Pierre Lassonde as the master of ceremonies for the CMHF induction ceremony in Toronto. KEITH HOUGHTON PHOTOGRAPHY

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of the Diavik diamond mine in the Northwest Territories, among other accomplishments, and helped put Canada on the map as the world’s third-largest producer of rough diamonds by value. “The thing that impressed me most about Bob was his dedication and determination to have a significant presence in the amazing story of the discovery of world-class diamond deposits in the Northwest Territories, and Bob succeeded in doing that, big time,” Graham Farquharson, founder of Strathcona Mineral Services, told the audience. “He even had an incredible diamond-sorting facility, established here in Canada for the first time ever, which I will never forget touring with Bob.” Gannicott became interested in geology while exploring caves as a teenager near his home in Sandford, a village in North Somerset, England. He left home in his late teens, taking a boat to Montreal in 1967, and from there catching a train to Winnipeg. “He was out of money,” longtime friend and colleague Lee Barker, president and CEO of Sparton Resources, recalled in a video presentation. “He basically managed to get himself to Edmonton by loaning his watch to the ticket agent in the Winnipeg train station. He actually did go back and get his watch back.” From Edmonton, Gannicott travelled to Yellowknife, and got his first job as a geological technician at the Giant gold mine, before returning to school and graduating with a geology degree from the University of Ottawa in 1975. After graduation, he worked for 12 years as an exploration geologist for Cominco (mostly in the High Arctic at places like the Black Angel lead-zinc mine in Greenland), after which, in 1986, he founded his own company, Platinova, where he focused on exploration in northern Greenland. In the early 1990s, Platinova discovered the Skaergaard copper-gold and Citronen Fjord base metal deposits, and has been credited with making a key contribution to building the foundations for a modern mineral industry in Greenland. Citronen Fjord has been described as one of the largest undeveloped zinc-lead deposits in the world. “We didn’t sleep very much,” Barker says of his days with Gannicott on the northern tip of Greenland, noting that they would get by See CMHF / 16

2018-03-13 8:40 PM

SPECIAL FOCUS

COLOMBIA, ECUADOR & PERU A waterfall at Aurania Resources’ Lost Cities-Cutucu gold property in Ecuador. AURANIA RESOURCES.

Adventus Zinc boosts resource at Curipamba ECUADOR

| Kicks off 18,000-metre drill program

Antioquia Gold sets sights on cash for Cisneros GOLD

| Colombia’s Antioquia department centre of junior activity BY BRIAN SYLVESTER Special to The Northern Miner

January, with indicated resources (open pit and underground) measuring 8.8 million tonnes grading 1.62% copper, 2.42% zinc, 0.27%

ntioquia Gold (TSXV: AGD; US-OTC: AGDFX) recently published a positive National Instrument 43-101 compliant preliminary economic assessment (PEA) and a revised resource estimate for its high-grade Cisneros gold project in Colombia. Now the company is hunting for the cash to reach production. The Northern Miner visited the 58 sq. km Cisneros project — 55 km northeast of Medellin — in late 2016. At that point the company looked poised to enter production in late 2017. Now the PEA says production is targeted for the next quarter. The fully permitted Cisneros project holds 729,000 measured and indicated tonnes grading 5.39 grams gold per tonne for 122,000 oz. gold, plus 536,000 inferred tonnes running 6.35 grams gold per tonne for 109,400 oz. gold. The updated estimate is based on results from 110 drill holes, including 14 new holes drilled in 2016 and 2017, and 1,130 channel samples over that span. The study used London gold and silver average prices from the previous six months.

See ADVENTUS / 10

See ANTIOQUIA / 14

Examining samples at Adventus Zinc and Salazar Resources’ Curipamba copper-gold-zinc project in Ecuador, from left: senior geologists Diego Bastidas, Christian Paramo and Francisco Soria. ADVENTUS ZINC

BY TRISH SAYWELL tsaywell@northernminer.com

ince signing an earn-in agreement with Salazar Resources (TSXV: SRL) last September, Adventus Zinc (TSXV: ADZN) has updated the resource on its El Domo copper-gold-zinc deposit at the Curipamba project in Ecuador and launched an 18,000-metre drill program. The two companies plan to explore for volcanogenic massive sulphide (VMS) as well as hydrothermal gold-silver style deposits on the 215.4 sq. km project in west-central Ecuador. The work program this year will also consist of infill and definition drilling at El Domo and test the volcanic strata between the El Domo VMS deposit and other nearby targets,

“WITH OUR EARNIN TRANSACTION, THE PROJECT FINALLY HAS SUFFICIENT CAPITAL TO COMPLETE REGIONAL EXPLORATION.” CHRISTIAN KARGL-SIMARD PRESIDENT AND CEO, ADVENTUS ZINC

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such as El Gallo, 420 metres south. “Curipamba always had terrific regional exploration potential, but Salazar was cash-constrained,” Christian Kargl-Simard, Adventus’ president and CEO, says in

an interview. “With our earn-in transaction, the project finally has sufficient capital to complete regional exploration.” Adventus and Salazar updated El Domo’s resource at the end of

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MARCH 19–APRIL 1, 2018 / THE NORTHERN MINER

COLOMBIA, ECUADOR & PERU

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A drill site at Adventus Zinc and Salazar Resources’ Curipamba copper-gold-zinc property in Ecuador. ADVENTUS ZINC

Adventus Zinc boosts resource at Curipamba ADVENTUS From 9

lead, 2.34 grams gold per tonne and 48 grams silver per tonne. There are another 2.6 million inferred tonnes (open pit and underground) averaging 1.29% copper, 1.51% zinc, 0.14% lead, 1.09 grams gold and 29 grams silver. “The hope is to double or triple the resource at those kinds of grades, which would create hundreds of millions of dollars of value,” Kargl-Simard says. “We’re drilling areas discovered in 2007 and 2008 that have never been drilled.” Last year, Salazar drilled 10,000 metres. One step-out hole returned 16.6 metres of 3.66 grams gold, 117.40 grams silver, 4.88% copper and 5.36% zinc. One of the targets that has generated the most excitement is in an area of the project called Sesmo, which has several high-grade historic channel samples, including 15 metres of 39 grams gold and 741 grams silver, which has never been drilled. Other channel samples from Sesmo returned 10 metres of 9.54 grams gold and 634 grams

silver, and 3 metres of 12.30 grams gold and 469 grams silver. “We’ll be drilling Sesmo and several other high-grade surface showings in the region for the first time starting in early March, so we’re very excited about what results can come out of this drilling, because it’s truly a lottery ticket,” Kargl-Simard says. Sesmo is one of over a dozen previously known precious metalrich targets at Curipamba, which include Cade, Cade 1, Cade Sur, Roble, Roble 1, Roble Este, El Gallo, Sesmo Sur, Agua Santa and La Vaquera. The Cade targets, 100 to 600 metres west of El Domo, returned a rock-chip sample of 7 metres grading 9.80 grams gold and 409 grams silver, while at the Roble targets, 100 metres north of El Domo, channel sampling of outcrops along a mineralized trend yielded a 3.6-metre sample grading 15.12 grams gold, 258 grams silver, 0.56% copper, 5.25% zinc and 3.25% lead. At the El Gallo target, south of El Domo, channel samples from outcrops along a mineral-

“SALAZAR OPERATES FOR US IN ECUADOR, BUT ADVENTUS BRINGS THE CAPITAL MARKET PRESENCE, THAT IS, MARKETING, INDUSTRY RELATIONSHIPS, CAPITAL-RAISING ABILITY AND DEVELOPMENT EXPERTISE.” CHRISTIAN KARGL-SIMARD PRESIDENT AND CEO, ADVENTUS ZINC

ized trend in a creek bed yielded a 17-metre sample grading 11.2 grams gold and 505 grams silver. Included in the work program this year will be an airborne electromagnetic geophysical survey, which will serve as a guide for regional drilling, as well as generate regional reconnaissance targets. Under the agreement with Salazar, Adventus is earning a 75% stake in the project by spending US$25 million over five years. A feasibility study is expected within three years, after which Adventus would fund all of the development and construction expenses to commercial production. Once in production, Adventus will receive 95% of the cash f low from the project until it recoups its full investment.

In addition, Adventus and Salazar have formed a separate and exclusive exploration alliance to explore for zinc-related deposits outside the Curimpamba project area. “We have a great relationship with Salazar Resources,” KarglSimard says. “Salazar operates for us in Ecuador, but Adventus brings the capital market presence, that is, marketing, industry relationships, capital-raising ability and development expertise.” Strategic shareholders of Adventus include Altius Minerals (TSX: ALS), with 27%; Greenstone Capital, with 18%; and Resource Capital Funds, with 16%. While Adventus is well backed financially, Salazar Resources has clout in Ecuador and its president

Contact Mauricio Ostos investorrelations@grancolombiagold.com www.grancolombiagold.com

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TSX: GCM

Telephone: (416) 360-4653

and CEO, Fredy Salazar, has a track record in South America. From 1990 to 1998, he worked as the regional exploration geologist for Newmont Overseas Exploration, where he reviewed and evaluated over 100 gold prospect submittals. He was also instrumental in Aurelian Resources’ acquisition of the Fruta del Norte property, and was their head of exploration. Fruta del Norte is now owned by Lundin Gold (TSX: LUG). Kargl-Simard notes that given Salazar is an Ecuadorian company, Adventus has a strategic advantage and the partnership helps exploration. “Fredy has operated in Ecuador, Northern Peru and Colombia since the 1980s … and has codiscovered many of the known deposits in Ecuador,” he says. “Due to this relationship, we have had an inherent advantage operating in the country, being somewhat insulated and with a good perspective.” El Domo — which Salazar found in 2008 — is near the towns of Las Naves and Ventanas in westcentral Ecuador’s Bolivar province in a juvenile volcanic-magmatic arc of the Paleocene-Eocene Macuchi Terrane, which hosts at least two other volcanogenic massive sulphide deposits, the company says. The sulphide mineralization at El Domo mostly occurs at the contact between a felsic volcanic dome and overlying volcaniclastic strata, and is generally flat-lying. The mineralization has been traced for 800 metres from north– south and between 350 metres and 500 metres east–west. TNM

2018-03-13 8:41 PM

COLOMBIA, ECUADOR & PERU

GLOBAL MINING NEWS

THE NORTHERN MINER / MARCH 19–APRIL 1, 2018

COLOMBIA, ECUADOR AND PERU SNAPSHOT Northern Andes attract seekers of gold, silver, copper

TOACHI MINING

For mineral explorers and developers, the northern Andean countries of Colombia, Ecuador and Peru are a potent combination of richly endowed metal mineralization and under-explored terrain, all hosted in relatively mining-friendly jurisdictions. Here’s a look at eight juniors with active programs in the area.

Toronto-based and Jonathan Goodman-led Toachi Mining (TSXV: TIM; US-OTC: TIMGF) describes its La Plata property in north-central Ecuador as hosting a gold-rich, volcanogenic massive sulphide deposit that was the subject of small-scale mining from 1975–1981 by Finnish giant Outokumpu. Toachi says the project benefits from a modern drill and exploration database, which was completed by Cambior from 1996–1999 and Cornerstone Capital from 2006– 2009. Its drilling program so far covers 14,500 metres.

EQUINOX GOLD Ross Beaty-linked Equinox Gold (TSXV: EQX) will be producing from its Aurizona gold mine in Brazil later this year and is advancing its past-producing Castle Mountain gold mine project in California, but the Vancouver-based junior also has a suite of less prominent gold and copper assets across the Americas, including in Peru and Ecuador.

At a 4 gram gold equivalent cut-off grade, the Plata deposit hosts an inferred resource of 1.9 million tonnes at 4.1 grams gold per tonne, 49.4 grams silver per tonne, 3.3% copper, 0.6% lead and 4.5% zinc.

In southern Peru’s coastal region, Equinox operates its 83%-owned, 350-tonne-per-day Koricancha gold toll mill. Gold production restarted at the end of 2016 and is ramping up towards capacity, with the potential to produce 50,000 to 75,000 oz. gold annually. Ore is bought from local artisanal miners. In southeast Ecuador, Equinox has its wholly owned Warintza porphyry copper-molybdenum project, where it has drilled 13 holes totalling 6,500 metres. Equinox says it “hopes to resume exploration” at Warintza in 2018. According to a 2012 resource estimate, Warintza has a 195-million-tonne resource grading 0.42% copper and 0.031% molybdenum, for contained metal of 2.1 million lb. copper and 132 million lb. molybdenum. PANORO MINERALS Vancouver-based Panoro Minerals (TSXV: PML; US-OTC: POROF) continues to makes strides advancing its flagship Cotabambas copper project in southern Peru, where it has completed 80,000 metres of drilling since 2007. Panoro’s drilling program is underway at the Maria Jose and Petra-David targets at Cluster 1, with 5,000 metres expected by April. The drilling will expand into the Chaupec skarn target in Cluster 2 in August, with 5,000 metres budgeted by the end of 2018. Indicated resources at Cotabambas stand at 117.1 million tonnes grading 0.42% copper, 0.23 gram gold per tonne and 2.74 grams silver per tonne, while inferred resources are 605 million tonnes at 0.31% copper, 0.17 gram gold and 2.33 grams silver. SIERRA METALS Sierra Metals (TSX: SMT; NYSE-AM: SMTS) owns and operates three precious and base metal mines in Latin America: the 82%-owned Yauricocha mine in Peru and the Bolivar and Cusi mines in Mexico. Located in Lima Department, the Yauricocha mine produces silver, lead, zinc, copper and gold from a high-temperature, carbonatereplacement deposit. It’s an underground mine with miners using sublevel caving and cut-andfill methods, with ore processing in a flotation plant. In February, Sierra reported that a drill hole at the Yauricocha mine intersected 99 metres grading 1.48% copper, 12 grams silver

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Other poeple involved in the company include chairman Laurence Curtis and directors Peter Nixon, Ebe Scherkus and Carolina Vargas. AURANIA RESOURCES Toronto-based Aurania Resources (TSXV: ARU; US-OTC: AUIAF) is exploring for gold at its Lost Cities project in southeastern Ecuador in the Cordillera del Cutucu region, which is contiguous with the Cordillera del Condor. The Cutucu forms part of the Northern Andean Jurassic metallogenic belt, which contains clusters of porphyry copper, gold-copper skarn and epithermal gold deposits.

Workers in the field at Aurania Resources’ Lost Cities-Cutucu gold property in Ecuador. AURANIA RESOURCES per tonne, 0.05% zinc, 0.01% lead and 0.7 gram gold per tonne, and that new drilling in the Cuye zone confirms wide, high-grade extensions at the mine. Sierra Metals said that “mineralized areas noted in core continue to identify large dioritic intrusive inclusions, which previously were never studied, and are the widest intercepts of copper mineralization in Sierra Metals’ history. This suggests a new geological interpretation concept in the intrusive rocks, with potentially larger dimensions.” SOLGOLD SolGold’s (TSX: SOLG; LON: SOLG; US-OTC: SLGGF) Cascabel property in northeastern Ecuador is one of the world’s most exciting grassroots exploration projects, and the company continues to grow the footprint of the worldclass Alpala copper-gold deposit and neighbouring targets, Alpala Northwest, Hematite Hill and Alpala Southeast.

TAHOE RESOURCES Tahoe Resources (TSX: THO; NYSE: TAHO) has grown from a singleasset miner with its Escobal silver mine in Guatemala to also acquiring and developing the La Arena and Shahuindo gold mines in Peru and the Timmins West and Bell Creek gold mines in Ontario. Shahuindo is an open-pit, heapleach gold mine in northern Peru, 30 away from La Arena, that reached commercial production in May 2016 at a capacity of 10,000 tonnes per day. But Tahoe is expanding this to 36,000 tonnes per day by mid-2018, with ramping up to occur in the second half of the year.

As of January, proven and probable oxide reserves stood at 127.8 million tonnes grading 0.46 gram gold per tonne, or 1.9 million oz. gold, while measured and indicated oxide resources totalled 156.7 million tonnes at 0.45 gram gold for 2.28 million oz. gold. La Arena is also an open-pit, heap-leach gold mine, exploiting a high-sulphidation, epithermal oxide gold deposit hosted in brecciated sandstone. Oxide reserves there stand at 44 million tonnes at 0.40 gram gold, while measured and indicated oxide resources are 50 million tonnes at 0.40 gram gold. The mine produced 204,400 oz. gold in doré in 2016.

In its most recent technical update, Aurania’s founder and CEO Keith Barron says the project’s Latorre area is “developing into a large and growing target for epithermal goldsilver. We are seeing characteristics that are not only similar to those that led to the discovery of the Fruta del Norte gold-silver deposit, 110 km south, but also to the Alto Chicama deposit (Lagunas Norte mine) in northern Peru. The identification of numerous diatreme breccias in the Latorre area is reminiscent of those that host a large part of the gold-silver endowment at Alto Chicama.” Aurania’s plan is to advance work on the Latorre target area, while the rest of its staff carries out streamsediment sampling. TNM

In January, SolGold tabled an astonishing maiden resource for Cascabel of 430 million indicated tonnes grading 0.52% copper and 0.43 gram gold per tonne, plus 650 million inferred tonnes grading 0.45% copper and 0.30 gram gold. SolGold says it has drilled the deepest-ever hole using a manportable rig, at 2,217 metres, and the company has drilled over 80,000 metres to date. Its best hole so far at Cascabel is hole 12, which returned 1,560 metres grading 0.59% copper and 0.54 gram gold per tonne. At last count, SolGold had US$90 million in cash.

SGS DELIVERS BANKABLE EXPERTISE For over 75 years in Canada, our bankable expertise has been providing mining companies with a comprehensive understanding of their deposit and ore variability while optimizing flowsheet design for processing. SGS IS THE WORLD’S LEADING INSPECTION, VERIFICATION, TESTING AND CERTIFICATION COMPANY

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2018-03-13 8:41 PM

MARCH 19–APRIL 1, 2018 / THE NORTHERN MINER

COLOMBIA, ECUADOR & PERU

WWW.NORTHERNMINER.COM

Dynacor’s artisanal mining strategy pays dividends D

ynacor Gold Mines (TSX: DNG; US-OTC: DNGDF) is not your typical junior. The company buys ore from registered artisanal miners in Peru and processes it into doré at its Veta Dorada plant, 600 km south of Lima. The processing plant poured its first gold in October 2016 and produced 79,897 oz. in 2017. “We are confident that in 2018 we will further increase this, as the company closes in on the 100,000 oz. per year production level,” Jean Martineau, Dynacor’s president and CEO, says in a telephone interview from his office in Montreal. “I don’t think we’ll be able to reach 100,000 oz. this year, but we’ll be pretty close to that, maybe around 90,000 or 92,000 ounces.” The mill, which can be expanded to 600 tonnes per day as required, reached a throughput of 300 tonnes per day at the end of November, and Dynacor’s next goal is to ramp it up to 360 tonnes per day before year-end. “We’re not a regular mining company, as you know. We don’t dig our own holes. We buy ore, and we are generating good cash flow,” Martineau says. The company generates so much cash, in fact, that it paid off its outstanding debt in December — 13 months ahead of time — and still had $5 million left in the till. Dynacor initially borrowed a $7-million, senior-secured credit facility from a Toronto-based company in January 2016. It didn’t have to pay it back until January 2019, but was eager to do so to avoid hefty lending rates. Last year the company paid $750,000 on interest and financial fees alone. “We wanted to eliminate that,” Martineau says. “Now we’re debt free, the mill is working very well, and so this year will be a very, very good year.” Not having any debt, he adds, “opens up doors to other possibilities, so it’s very interesting — it puts us in a very good situation — and we’ve been looking for different opportunities.” Martineau won’t say what these new opportunities might be, or where. “Right now we haven’t decided,” he says, adding

PERU

| Debt-free junior aims to toll mill up to 100,000 oz. gold in 2018

“NOW WE’RE DEBT FREE, THE MILL IS WORKING VERY WELL, AND SO THIS YEAR WILL BE A VERY, VERY GOOD YEAR.” JEAN MARTINEAU PRESIDENT AND CEO, DYNACOR GOLD MINES

only that they could be outside Peru. In October 2017, the company signed a strategic alliance with PX Precinox, a privately held Swiss refinery and manufacturer of finished and semi-finished precious metal producers for the hi-tech and luxury industries. The alliance involves jointly developing a business-to-business responsible gold program, under which all the gold Dynacor produces will be marketed under the label PX Impact Gold and sold to some of the world’s leading luxury jewellery and watchmakers, who are keen to buy socially responsible and traceable gold produced by artisanal miners. Buyers of PX Impact Gold, Dynacor says, will pay a premium for socioeconomic development projects in Peru for artisanal miners and their communities. In addition to its milling business, Dynacor has an exploration property called Tumipampa, a gold-copper project 500 km southeast of Lima. The 97.6 sq. km property sits 4,500 metres above sea level on a barren plateau that straddles the Andahuaylas-Yauri porphyry and skarn belt to the east, and a regionally trending corridor of epithermal gold and silver mineralization to the west — both hosting large base and precious-metal deposits. Over the last year, Dynacor’s shares have traded between $1.50 (December 2017) and $2.58 (March 2017). At press time the company’s shares were changing hands at $1.93. Dynacor has 39 million common shares outstanding for a $75-million market capitalization. TNM

Jorge Luis Cardenas (left), project general manager, and Jean Martineau, Dynacor Gold Mines president and CEO, display a gold bar in the Veta Dorada gold mill in Peru. DYNACOR GOLD MINES

The Veta Dorada gold mill in Peru. DYNACOR GOLD MINES

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2018-03-13 8:41 PM

COLOMBIA, ECUADOR & PERU

GLOBAL MINING NEWS

THE NORTHERN MINER / MARCH 19–APRIL 1, 2018

Ecuador mines minister hopes to eliminate windfall tax REGULATION

| Plans to clean up and better organize granting of concessions

BY TRISH SAYWELL

tsaywell@northernminer.com

ebeca Illescas, Ecuador’s new minister of mines, says she hopes to persuade the government of President Lenin Moreno to abolish the windfall profits tax. “I’ve talked about this in Ecuador but it could be news to foreign mining companies,” Illescas told The Northern Miner in an interview at Toronto’s annual Prospectors & Developers Association of Canada convention in early March. “It still has to be evaluated inside the government, but I would like to see it put into law.” Illescas, who replaced Javier Cordova, Ecuador’s previous mines minister, after his resignation from the post in February, said that “the best-case scenario is that we get rid of it,” while “the worst-case scenario would be that it is maintained in the law, but mining companies won’t have to pay it for four years after they recoup their investment.” The new mines minister said she couldn’t say if or when the windfall tax will be abolished, but said she believes Moreno, who was elected president last year, is keen to develop the mining sector and may agree that the windfall profits tax does more harm than good. “I do believe he will support it because he realizes the importance of the mining sector, so I think he’s going to look very carefully at that,” she says. “The president has talked about the importance of private investment because the country needs private investments.” President Moreno also recognizes that Ecuador needs to diversify its economy away from its heavy reliance on revenues from oil and gas, she says. “That is a priority for us over the next few years,” she says. “We need another important sector for the economy of Ecuador. I’m very positive about that and I think the mining sector will become the second big-

Rebeca Illescas, Ecuador’s Minister of Mines, addresses attendees in early March during Ecuador Day at the PDAC 2018 convention in Toronto. ECUADOR MINISTRY OF MINING

“THE MINING SECTOR WILL BECOME THE SECOND-BIGGEST DRIVER OF OUR ECONOMY OVER THE NEXT FEW YEARS.” REBECA ILLESCAS MINISTER OF MINES, ECUADOR

gest driver of our economy over the next few years.” But she also said that President Moreno has been “emphatic and

clear that Ecuador will have responsible mining, and that’s good for everybody.” The new minister, who served as

the deputy minister under Cordova, also noted that a national referendum in early February that supported banning mining near urban centres or municipalities would not affect foreign mining companies, only smaller, local companies and artisanal miners. In addition, Illescas pointed to Ecuador’s attractiveness as a mining jurisdiction. “Only a very small part of the country has ever been explored,” she says,

“and we have excellent geology, infrastructure, and competitive prices for electricity and water. We also have good relations with the communities, which receive royalties.” Illescas also explained that the closure earlier this year of the national mining cadaster and the granting of new mining concessions was only a temporary measure, while the government sorted out the system in an effort to “clean it up and organize it better.” TNM

The camp at Lumina Gold’s Cangrejos gold project in Ecuador’s El Oro province. LUMINA GOLD

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2018-03-13 8:41 PM

MARCH 19–APRIL 1, 2018 / THE NORTHERN MINER

COLOMBIA, ECUADOR & PERU

WWW.NORTHERNMINER.COM

Hauling out rock from the mine portal at the Guaico deposit at Antioquia Gold’s Cisneros gold project in Colombia’s Antioquia Department. PHOTO BY JOHN CUMMING

Antioquia Gold sets sights on cash for Cisneros ANTIOQUIA From 9

The mineralized structures that were updated with new data include: Nus, Guaico, Footwall-3, Footwall-5, Vega and La Manuela-1. The resources for Guayabito North and Papi remain unchanged from the estimate published in 2013. The Guaico and Guayabito veins would be mined by mechanized cut-and-fill methods, whereas the Nus structures would see long, open stoping. The processing plant would operate 347 days a year and treat 500 tonnes daily. Mined ounces would increase to 39,000 in 2019 from 28,000 oz. in 2018, and decrease gradually for the remaining mine life. Gold would be recovered as free gold and in concentrate. The PEA says Cisneros has a US$23.7-million, pre-tax net present value and an 18.7% post-tax, internal rate of return (using a 5% discount rate). Project payback would take 2.6 years on a pre-tax basis. The tricky part is that the PEA also says Antioquia Gold needs US$75.5 million to put all its ducks in a row. That includes US$61.5 million in pre-production capital costs (up from the US$40 million estimated in internal economic studies), US$14 million in sustaining capital and a 15% contingency. But that’s less than it could have been. Antioquia Gold’s main access ramp at Guaico is already over 1,000 metres long and spirals down more than 110 metres from the mine portal. There is also a raised ventilation shaft, and Cisneros is just off a highway. Antioquia trades at 6¢ and has 306,786,920 shares outstanding for an $18.4-million market capitalization. The company recently withdrew a prospectus tied to a proposed rights offering in August 2017 that would have seen Antioquia raise as much as $62.5 million.

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At press time, Antioquia Gold management had not responded to requests for comment. But Antioquia Gold isn’t hunting alone. Lima-based shareholder Infinita Prosperidad Minera S.A.C. — a privately held mining company once known as Desafio Minero — owns 70% of Antioquia Gold, or 215 million shares. Infinita has extensive gold-mining experience in Peru, which has given it the confidence to sign off on Antioquia Gold’s unorthodox plan to build a mine without a feasibility study. But Infinita is unlikely to provide all the capital needed to reach production. Antioquia Department Antioquia Gold is one of a dozen companies operating in Antioquia Department, which is easily the country’s most prolific gold-producing region. Colombia’s National Mine Agency says the country produced almost 2 million oz. gold in 2016 worth US$1.55 billion — about threequarters of which was exported. This placed Colombia in fifteenth place among the world’s gold-producing countries. The Colombian government typically charges companies a 4% royalty on the production value of both gold and silver, but miners can negotiate a lower rate if they meet certain conditions. Royalty payments from gold exports added more than US$71 million to Colombian government coffers in 2016, and government officials expect that number will grow once Continental Gold’s (TSX: CNL) high-grade Buritica project — also in Antioquia Department — enters commercial production in 2020. Continental will pay a 3.2% royalty on production. At US$1,200 oz. gold and US$15 oz. silver, Buritica has proven and probable reserves of 13.7 million

A development ramp into the Manuela gold zone at the Guaico deposit on the Cisneros property in Colombia. PHOTO BY JOHN CUMMING

ANTIOQUIA GOLD IS ONE OF A DOZEN COMPANIES OPERATING IN ANTIOQUIA DEPARTMENT — EASILY THE COUNTRY’S MOST PROLIFIC, GOLD-PRODUCING REGION. tonnes grading 8.4 grams per tonne gold and 24.3 grams per tonne silver for a total of 3.71 million oz. gold and 10.7 million oz. silver. The mine is being built at a cost of $389 million and should produce 253,000 oz. gold per year for 14 years. Buritica is fully permitted and funded, after the junior negotiated a $275-million loan agreement with London-based Red Kite Mine Finance and welcomed a US$109million investment by Newmont Mining (NYSE: NEM) in May 2017. Newmont’s 19.9% stake in Continental endorses both Buritica and Colombia, but it is not the only major gold producer active there. AngloGold Ashanti (NYSE: AU) has a 51% interest in the Grama-

lote gold project, 110 km northwest of Medellin. B2Gold (TSX: BTO; NYSE-AM: BTG) owns the other 49%. AngloGold also owns the massive La Colosa gold project in Tolima province. Both Gramalote and La Colosa are undergoing prefeasibility studies. Representatives from Barrick Gold (TSX: ABX; NYSE: ABX) met at length with Colombian government officials at the recent Prospectors & Developers Association of Canada convention in Toronto. Meanwhile, Red Eagle Mining (TSX: R) beat its Colombian rivals to production when it poured gold at the San Ramon mine in Antioquia Department in November 2016. San Ramon is part of Red Eagle’s

wholly owned Santa Rosa gold project, an intrusive-hosted, structurally controlled quartz stockwork system in the prolific Antioquia batholith, 70 km north of Medellin. Red Eagle has provided production guidance of between 45,000 and 50,000 oz. gold in 2018 at all-in sustaining costs of US$900 per oz. gold. The company says production will bump up to 65,000 oz. gold in 2019 through 2023 at full capacity. Not far away in Antioquia Department, Atico Mining (TSXV: ATY) owns 90% of the El Roble copper-gold mine, which has 1.87 million measured and indicated tonnes grading 3.46% copper and 2.27 grams gold per tonne. El Roble produced 20,600 lb. copper and 10,900 oz. gold in 2017 via a copper concentrate with gold credits. Atico is drilling its land package around El Roble. In March 2017, Iamgold (TSX: IMG; NYSE: IAG) optioned the Zancudo gold project in the Titiribi mining district of Antioquia, 27 km south of Medellin, from Gran Colombia Gold (TSX: GCM). Iamgold can earn a 65% interest in Zancudo by spending at least US$10 million on exploration by 2023. Iamgold can acquire another 5% interest by completing a feasibility study within three years after exercising its first option. Gran Colombia is Colombia’s largest gold producer. It delivered 173,821 oz. gold in 2017, up 16% over 2016. The Segovia operations in Antioquia Department provided the lion’s share of gold production with 148,659 oz., up 18% over 2016. This was despite a strike in July 2017 by Segovia workers who claimed they were being extorted by a Colombian paramilitary outfit known as the Urabenos. Gran Colombia says it is unaware of any extortion attempts. — Based in Toronto, Brian Sylvester is a freelance business writer specializing in mining.

2018-03-13 8:41 PM

COLOMBIA, ECUADOR & PERU

GLOBAL MINING NEWS

THE NORTHERN MINER / MARCH 19–APRIL 1, 2018

Lupaka ramps up to underground production at Invicta PERU

| Plans to triple production midway through mine life

BY RICHARD QUARISA

rquarisa@northernminer.com

upaka Gold (TSXV: LPK) has tabled a positive preliminary economic assessment of its fully funded, 316 sq. km Invicta underground gold-copper project in Peru, 120 km north of Lima. It aims to jump into production by the end of 2018 with low start-up costs and use the ensuing cash flow to expand its operation. Its initial six-year mine plan outlines a 350-tonne-per-day operation on a small but high-grade subset of Invicta’s Atenea vein through sub-level, long-hole open stoping via an adit on the project’s underground structure, 3,400 metres above sea level. “The resource has enough in the indicated category to support 24 years of mining at 350 tonnes a day, but that’s not what we want to accomplish in the long run,” Lupaka president and CEO Will Ansley says in a telephone interview with The Northern Miner. “We need to get in there and show the community that we’re a good operator and a good partner, and we value them, and then we can expand production and ultimately build a plant on-site. That’s the goal.” Lupaka is not the first company to try produce at Invicta. The property was originally owned by Barrick Gold (TSX: ABX; NYSE: ABX) and then by Andean American. Andean permitted the project to produce 5,200 tonnes per day and tabled a full feasibility study for a combined open-pit and underground mine. It also spent more than US$15 million on Invicta, part of which helped build the 1.2 km underground infrastructure. Andean never got the project running, however, due to a lack of

Workers at Lupaka Gold’s Invicta gold-copper project in Peru, 120 km north of Lima. LUPAKA GOLD

community support and projected capital expenses that exceeded a billion dollars. “They floundered and eventually ran out of money pursuing that concept, and we acquired it in the downturn for a very reasonable price,” Ansley says. At the time Lupaka was focused on another gold asset called Crucero, located in southern Peru. Crucero has 30.9 million indicated

tonnes grading 1.02 grams gold per tonne for 1 million oz. gold. It sold Crucero in November 2017 to GoldMining (TSXV: GOLD) for 3.5 million shares and $750,000 in cash. After that, Lupaka became fully funded to bring Invicta into production. The company financed US$5.5 million in February 2018, and now has US$7.6 million in cash. It’s enough to finish pre-production,

A portal at Lupaka Gold’s Invicta gold-copper project in Peru, 120 km north of Lima. LUPAKA GOLD

1-16, 23_MAR19_Main .indd 15

which Lupaka says will cost US$4.3 million. Lupaka saved money on capital expenses by using its infrastructure — which includes a 65-person camp — and trucking mineralized material to a toll-milling facility rather than build a plant on-site. Lupaka excludes the US$1 million it spent buying back a 1% production royalty from Franco Nevada (TSX: FNV; NYSE: FNV) in 2017 from its capital expense estimates. If the project goes to production, Lupaka anticipates 670,000 tonnes at 8.6 equivalent grams gold for 185,000 equivalent oz. gold over the first six years, generating an average annual cash flow of US$8.2 million. The project has an aftertax net present value of US$43.4 million at a 5% discount rate. “You can get a sense of how wonderful the economics are on the project,” Ansley says. “The project has highly robust economics because it has very low capital expenditure and no time decay — it’s ready to go [and] permitted. With a lot of these projects the economics are hampered because you have to wait two or three years to build things that cost hundreds of millions of dollars. We don’t have that.” Lupaka has the project permitted, and wants to raise production to 1,000 tonnes per day. It also wants to keep drilling and expand its resource. Lupaka could mine for eight years based on its current resource model, but Ansley says he’d like to see that number “rise to 10 years and beyond.” The Invicta project has a resource of 3 million indicated tonnes at 5.78 equivalent grams gold per tonne for 558,000 equivalent oz. gold, based on drilling by Barrick and Andean. Lupaka itself has not drilled the property, but has taken two bulk samples for a combined 1,000 tonnes. Ansley says the company’s head of exploration is planning this year’s drill program, but doesn’t want to send an exploration crew underground until the mine contractor has rehabilitated the

infrastructure. Besides updating the underground workings, Lupaka will spend a quarter of its capital expenses on updating a road that supports 30-tonne trucks going to the toll miller. The US$1-million road program will work around the local Lacsanga communities, which Ansley says have been supportive of Lupaka so far. Lupaka has an agreement with Lacsanga to cross their land and use their road to access its site. “Part of our agreement stipulates that where possible we will employ them,” Ansley says. “Seventy percent of their community is either employed by us or working with us indirectly through service jobs, so it’s a very strong relationship that’s growing, and we’re very pleased and proud of it.” Lupaka also has its Josnitoro gold project in southern Peru, 800 km by road southeast of Lima. The company can earn a 65% interest in Josnitoro from Hochschild Mining (LON: HOC), but must have an exploration agreement in place by the end of March. Ansley says Lupaka only received funding mid-2017 to do the exploration, and can’t “definitively say” Lupaka will meet its deadline. “We’re going to ask for an extension,” Ansley says. “I don’t know if we’ll receive it or not, but if we are allowed to do exploration and if we are successful in getting the community agreement, we have a budget to do exploration there in 2018.” Lupaka’s exploration budget for both properties is US$1 million. In 2018, the company plans to sign an off-take agreement for Invicta, sign a milling contract and engineer potentially more production phases, as well as explore its properties. By year-end, Ansley says Lupaka wants to understand the timeline and cost of building a plant on-site. Shares of Lupaka are valued at 23¢, within a 52-week range of 11¢ to 29¢. The company has a $27-million market capitalization. TNM

2018-03-13 8:41 PM

WWW.NORTHERNMINER.COM

MARCH 19–APRIL 1, 2018 / THE NORTHERN MINER

Four Canadian mining giants honoured at CMHF soirée CMHF From 8

on four hours’ sleep most nights, from three or four in the morning until breakfast at seven. “He wasn’t worried about hardship or living in harsh conditions, or getting his hands dirty,” Barker said. “He was very, very resourceful.” “Working for him was just delightful because he was so much energy, he was a visionary, and his mind just never stopped,” Lyle Hepburn, a counsel at Markes Lawyers, said on the video, adding that Gannicott was “benevolent” and “tenacious.” “He was always looking for the solutions and that was one of the reasons why he was so successful, because he never really gave up about thinking about these sorts of things, and what to do next,” Hepburn said. In 1992, Gannicott started exploring for diamonds in the Northwest Territories, staking claims near Diamet Minerals’ Lac de Gras kimberlite discovery. With some colleagues — including Barker — Gannicott set up West Viking Exploration, a private company, which later merged with Aber Resources. Aber went on to make the Diavik discovery. When they broke the core from the A154 pipe, they found a two-and-a-halfcarat diamond. “When the bulk sample was taken on the A154 pipe there was about a 22,000-plus carat parcel of diamonds that had to be properly sorted and evaluated,” Barker recalled. “Bob pored over these diamonds ad nauseam. I think he had names for them all.” The discovery attracted Rio Tinto as an operating partner, but Aber kept a 40% stake. The company went on to buy luxury diamond retailer Harry Winston. Harry Winston was later acquired by Swatch, and with the funds, Gannicott bought the Ekati diamond mine, at which point the company’s name was changed to Dominion Diamond Corporation. “He was a visionary, he was entrepreneurial, he was imaginative,” Jim Pounds, executive vice-president of Dominion Diamond Corp., said during the video presentation. “He was very, very focused once he got an idea in his head.” Dominion Diamond was acquired by The Washington Companies in July 2017 for US$1.2 billion. Always passionate about the Far North and its people, Gannicott set

up the Robert Gannicott Foundation dedicated to helping indigenous people, and left a considerable sum of money in his will to be used for youth in the Northwest Territories. In 2013 he was a corecipient of AME BC’s Hugo Dummett Award for excellence in diamond exploration. For his role in building and sustaining Canada’s diamond industry he was awarded the CIM Vale Medal in 2005 and the Members Award in 2007. Gannicott died of leukemia in 2016. A. Terrance MacGibbon Inductee Terry MacGibbon epitomizes the idea that there is plenty more living to do after retirement. After serving with nickel giant Inco for 30 years as an exploration geologist and executive, MacGibbon transitioned to company builder and mine developer, playing a lead role in creating four substantial mining companies: FNX Mining, Torex Gold Resources, TMAC Resources and INV Metals. “Retiring the first time, I think I had six hours off,” MacGibbon recalled in a video retrospective. “I retired at midnight on the last day of October and started at eight in the morning on the first day of November.” As major companies shed noncore assets, MacGibbon was there to pick up high-quality properties beginning with past-producing mines in Ontario’s Sudbury basin, which were placed into FNX. The junior then made discoveries that were developed into seven mines. “One of the most important things about Terry is that he has a great vision and he sees value,” Jason Neal, global cohead of the metals and mining group at BMO Capital Markets, said in the video. “He certainly sees things early and he’s able to get people organized around opportunities.” Born in New Waterford, N.S., MacGibbon studied dentistry at first, but earned a B.Sc. (Geology) from St. Francis Xavier University in 1968. He joined Inco’s exploration department and climbed the corporate ladder, culminating in him directing Inco’s global exploration efforts. MacGibbon left Inco in 1997 and drove FNX’s rapid ascent as a substantial player in the Sudbury basin. For that, he received the 2004 Viola R. MacMillan Developer of

Ross Beaty accepts his induction award from CMHF director Patricia Dillon at the ceremony in January. KEITH HOUGHTON PHOTOGRAPHY

1-16, 23_MAR19_Main .indd 16

Inductee Terrance MacGibbon speaks at the induction dinner in Toronto. KEITH HOUGHTON PHOTOGRAPHY

the Year Award from PDAC and Ernst & Young’s Entrepreneur of the Year Award in 2005. In 2010 FNX merged with Quadra Mining to form Quadra FNX Mining, and in 2012, Quadra FNX was bought by a Polish copper mining giant KGHM for $3.5 billion. MacGibbon used the same strategy to acquire projects for Torex, TMAC and INV: the Morelos gold project in Mexico from Teck Resources; the Hope Bay gold project in Nunavut from Newmont Mining; and the Loma Larga gold property in Ecuador from Iamgold. As the CMHF writes in its biography of MacGibbon: “These projects all faced challenges, such as escalating costs, lack of community support, and political and taxation issues. MacGibbon applied his ‘three Ps of success’ — perseverance, patience and passion — and built teams of like-minded professionals to help overcome these challenges.” Torex Gold and TMAC have both become substantial gold producers, and INV has advanced Loma Larga to a point where it could produce within a few years. In accepting his award, MacGibbon called it a “great honour” and said it was “very humbling to be included with such great inductees.” He thanked his wife and family and said: “everyone in this room knows the sacrifices our families make to allow us to pursue our careers and to be successful. I missed children’s graduations because of a very important business event. But today, I can’t remember what that event was. So really, how important was it?” Looking back at the two phases of his career, MacGibbon said that one lesson he’d learned was that “you can never improve on what mother nature has done. However, you can improve on what man has done. This is why we have had success in acquiring non-core assets from large mining companies and then applying out-of-the box strategies, non-layered decision-making and entrepreneurial thinking, and why we were able to turn these non-core and sometimes abandoned assets into great mines and companies. “A great asset is certainly necessary for success,” he continued. “But by a long shot, people are the most important requirement for success. I have been blessed to have worked with the best, most-talented and ethical people in the mining business.” Ross Beaty The final inductee of the evening was Ross Beaty, a geologist and mining entrepreneur who has created an estimated $6 billion of shareholder value through 13 companies since 1994. His flagship company Pan American Silver is the second-largest pri-

mary silver producer in the world, with a market value of over $3 billion, seven mines in Latin America, three in Mexico, two in Peru, and one each in Bolivia and Argentina. “Ross has been consistently one of the most successful mining entrepreneurs in the industry,” David Scott, CIBC World Markets’ vicechairman and managing director of mining global investment banking, said during a video presentation. “As a young person I think [he] understood the cyclical nature of the mining business. Ross was able to be decisive and make countercyclical investments.” Born in Vancouver in 1951, Beaty had his first rock collection when he was eight years old and studied geology at the University of British Columbia (UBC), graduating in 1974. “I worked every summer in the bush with different mining companies exploring for minerals and I loved every minute of it,” Beaty said during a video presentation about his career. “I was paid to hike and paid to camp and paid to fly around in helicopters, I just thought, you know, ‘pinch me.’ I mean, I would have done it for free.” Beaty received a degree in Mineral Exploration from the University of London’s Royal School of Mines in 1975 and a law degree from UBC in 1979. He started his first company, Beaty Geological, because he wanted to work for himself and didn’t want to be an employee of anyone else. The contract geology company grew to a team of 30 geologists, and was eventually bought by the first junior mining company Beaty created, called Equinox Resources. Equinox developed three mines before it was sold to Hecla Mining in 1994. His next venture, Pan American Silver, was “by far the most sizeable and frankly most satisfying” of his mining ventures, Beaty said in the video. Among his many other success stories was Lumina Copper, which was eventually divided into six companies that were sold over the years in transactions that created nearly $2 billion of shareholder value. In addition to the mining companies he created, Beaty launched a geothermal power company in 2008, which expanded to include other forms of renewable energy, including wind, solar and hydro. The company, now called Alterra Power, operates nine geothermal, wind, solar and hydroelectricity plants in Canada, Iceland and the United States. A passionate environmentalist, Beaty has donated a great deal of money to environmental causes. The Sitka Foundation, which he set up, distributes $3.5 million each year to support more than 72 environmental organizations. He has

been a major donor to UBC, which has led to the creation of the Beaty Biodiversity Museum, the UBC Earth Sciences Building and the Pacific Museum of the Earth. Last year he and his wife Trisha gave $5 million to Queen’s University for research into freshwater resources and another $4 million to the Canadian Museum of Nature in Ottawa. “He’s just an extraordinary, modest and generous fellow,” Don Lindsay, president and CEO of Teck Resources, said during the video. “I’ve seen him make generous donations and his name’s never published, nobody knows.” In 2017 Beaty was appointed to The Order of Canada. His other awards include PDAC’s Viola MacMillan Award in 2010, the CIM Vale Medal in 2014, and The Northern Miner’s 2011 Mining Person of the Year. In his acceptance speech, Beaty thanked everyone who had helped him “look good” and who had contributed so much to making Canada “the world’s greatest mining investment capital.” “You cannot succeed in this business without being lucky, and I’ve been most lucky by having the chance to work with so many people who have helped me look good,” he said. “I never found any mines, I never built any mines, I just had great colleagues who did, including all the consultants and support teams who helped us.” Beaty concluded by thanking all the spouses, partners and families of the many people who had helped him build his companies, and all the other companies in the industry. “It’s those partners and their families who often have to sacrifice so much to support the guys like me who get all of the awards,” he said. “It’s time all of us promoters give a shout-out to all of them for their silent support from behind the lines … my son John is here tonight representing my wife Trisha and my other four kids, who spent so many days and weeks without their husband and father, while I roamed around the world chasing my dreams. “I’ve had an absolutely wonderful ride, and you are all part of my proud induction into the Canadian Mining Hall of Fame.” — With files from the Canadian Mining Hall of Fame. The Northern Miner is a founding sponsor of the Hall of Fame, along with the Canadian Institute of Mining, Metallurgy and Petroleum, the Mining Association of Canada and the Prospectors & Developers Association of Canada. For more information on the Hall of Fame and how to make a nomination, please visit www.mininghalloffame.ca.

2018-03-13 8:41 PM

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MARCH 19–APRIL 1, 2018 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / MARCH 5–9 Canada’s benchmark index rose 1.25% to 5,577.81 during a largely stagnant trading week. The S&P/TSX Global Mining Index fell 0.35% to 70.33 and the S&P/TSX Global Gold Index fell 0.75% to 180.05. West Texas Intermediate crude rose 1.3% to US$62.04, while the gold price rose just 0.04% to US$1,323.10. Shares of Agnico Eagle rose 89¢ to $50.04. The company announced in February that it had been approached several times about selling its cobalt assets. Agnico holds land near Cobalt, Ont., which hasn’t produced minerals since 1988. The company says it will evaluate its portfolio and would be open to a deal wherein it keeps a royalty. The company saw higher production and cash costs per ounce for the fourth quarter of 2017 versus the same quarter of 2016, but a higher full-year net income, as well. For 2017, Agnico recorded a net income of US$243.9 million compared to US$158.8 million for 2016. It attributed the increase to higher metal prices and sales volumes. Shares of RTG Mining fell 22.9% to 14¢, as the company faces uncertainty over anti-mining sentiment in the Philippines, where it has its development-stage Mabilo polymetallic project and several other exploration properties. Mabilo has 7.19 million probable tonnes grading 45.5% iron, 1.95%

copper, 2.04 grams gold per tonne and 8.79 grams silver. RTG had envisioned Mabilo as an open-pit project, however, in early 2017, then-environmental secretary Regina Lopez banned openpit mining. A few months later, a 25-member House-Senate committee voting on whether to retain cabinet appointees ousted her. As a result of the ban, Indonesia surpassed the Philippines as the world’s largest nickel producer. A new report by BMI Research predicts Indonesia will continue as the world leader while nickel-mining production in the Philippines “is expected to remain subdued in 2018, as policy uncertainty continues to plague the sector.” Philippine President Rodrigo Duterte appointed Roy Cimatu, the former Armed TSX MOST ACTIVE ISSUES

First Quantum Suncor Energy Yamana Gold Trevali Mng Barrick Gold Goldcorp Kinross Gold Lundin Mng B2Gold Lucara Diam

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

FM SU YRI TV ABX G K LUN BTO LUC

14205 21.65 19.23 20.29 - 0.08 13670 42.14 40.65 41.74 + 0.89 12908 3.87 3.33 3.37 - 0.45 12752 1.45 1.31 1.42 - 0.05 11334 15.49 14.90 15.14 + 0.26 10786 17.12 15.97 16.66 + 0.62 10065 4.84 4.55 4.55 - 0.14 9644 8.63 8.05 8.30 + 0.14 9644 3.91 3.70 3.72 - 0.14 8917 2.33 2.12 2.14 + 0.03

Forces chief of staff, in Lopez’s stead. As a result, BMI predicts a softening of the current ban. It’s unclear how future ruling will affect RTG’s ability to take Mabilo into production. Shares of Teck Resources fell $2.57 to $33.83. Teck recently lowered its projected coal sales slightly from 6.5 million tonnes to 6 million tonnes. The company blamed the discrepancy on “logistics issues” at Wests-

hore Terminals, a coal export terminal in the Vancouver area. The company also restarted its Elkview coa l-mine dr y ing complex. The company expects to lose 200,000 tonnes in coal output because of the two-month interruption, but says full commercial production will resume shortly. Teck says repairs to the dryer will cost less than $10 million. TNM

TSX GREATEST PERCENTAGE CHANGE

Verde Potash Peregrine Diam Largo Res Harte Gold Euro Sun Mg Goldgroup Mng Black Iron Aberdeen Intl TriMetals Mng Auryn Res RTG Mining St Augustine Serabi Gold UEX Corp EurOmax Res Century Global Columbus Gold Atlatsa Res Yamana Gold Lydian Intl

NPK PGD LGO HRT ESM GGA BKI AAB TMI AUG RTG SAU SBI UEX EOX CNT CGT ATL YRI LYD

760 1497 1250 2551 493 595 194 621 328 684 162 611 1140 2070 36 55 412 280 12908 1593

1.12 0.18 1.39 0.47 1.74 0.07 0.11 0.20 0.18 1.93 0.18 0.03 0.06 0.35 0.26 0.24 0.44 0.04 3.87 0.50

0.54 0.15 1.14 0.40 1.39 0.06 0.10 0.17 0.16 1.62 0.00 0.02 0.06 0.27 0.22 0.00 0.34 0.00 3.33 0.42

0.90 0.18 1.35 0.47 1.65 0.07 0.11 0.20 0.18 1.87 0.14 0.03 0.06 0.29 0.23 0.24 0.35 0.04 3.37 0.43

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

TSX GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Nutrien North Am Pall Agnico Eagle Suncor Energy Goldcorp Verde Potash Silver Wheaton First Majestic Detour Gold Lundin Gold Franco-Nevada Teck Res Teck Res Labrador Iron Nexa Resources Seabridge Gld TMAC Resources Yamana Gold Kirkland Lake Endeavour Mng

66.7 20.7 19.5 17.7 17.0 16.7 15.8 14.7 12.9 12.7 22.9 16.7 14.3 13.6 13.5 13.0 12.5 12.5 11.8 11.5

VOLUME WEEK (000s) CLOSE CHANGE

NTR PDL AEM SU G NPK WPM FR DGC LUG FNV TECK.B TECK.A LIF NEXA SEA TMR YRI KL EDV

6734 66.79 51 10.52 2865 50.04 13670 41.74 10786 16.66 760 0.90 3524 25.25 3162 7.46 3511 12.33 339 5.31 2488 87.25 8448 33.83 26 33.76 1162 23.66 1 26.05 315 13.87 105 9.03 12908 3.37 4072 19.92 848 24.25

+ 3.05 + 1.02 + 0.89 + 0.89 + 0.62 + 0.36 + 0.35 + 0.31 + 0.29 + 0.28 - 3.67 - 2.57 - 2.34 - 0.74 - 0.54 - 0.51 - 0.46 - 0.45 - 0.44 - 0.33

TSX VENTURE EXCHANGE / MARCH 5–9 After rising as many as 24 points midway through the trading week, the S&P/TSX Venture Composite Index levelled off at 828.9 — a 0.35% gain over the previous week. Shares of Goldex Resources rose 45¢ to $1.52. The company has mineral exploration licences in Guatemala and Mali, where it recently signed a joint-venture agreement over its newly acquired Korokoro gold project. Korokoro is a 143 sq. km property being explored by Geo-Sys-Tech Sarl and RexMetal-Sarl. It lies 54 km from Randgold’s Morila gold mine. Geo has a small-scale mining licence and a plant capable of processing 10 tonnes of ore per hour. Under the joint venture, Geo and Rex will transfer their interests to a new company. Goldex will become the operator with a 51% interest in the joint venture and the licence. Shares of Maya Gold & Silver fell 28¢ to $2.13. Maya has assets in Morocco, where it is focused on its 85%-owned Zgounder silver mine. The mine began milling in July 2014 and poured its first silver in August of the same year. As of December 2017, Maya had produced 1.35 million oz. silver by Zgounder.

The company filed a preliminary economic assessment (PEA) on the Zgounder project earlier this year that projects another decade of mine life. According to the new PEA, the project still has 990,000 measured and indicated tonnes grading 315 grams silver per tonne for 10 million oz. silver. The project has an after-tax net present value of US$200 million at a 6.5% discount rate and a 118% after-tax internal rate of return. Shares of Lithium X Energy rose 37¢ to $2.57 in final trading before the company was acquired by NextView New Energy Lion Hong Kong. Shareholders of Lithium X received $2.61 for each share held. The companies closed the deal on March 9, TSX-V MOST ACTIVE ISSUES

Libero Copper Leeta Gold Gratomic Kaizen Discov Jourdan Res Victoria Gold Highland Copp Sable Res Macarthur Mnl Cobalt Pwr Grp

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

LBC 13085 HIVE 10791 GRAT 9886 KZD 8848 JOR 8214 VIT 7769 HI 7514 SAE 6967 MMS 6965 CPO 6103

0.09 1.83 0.24 0.10 0.13 0.44 0.16 0.24 0.07 0.23

0.09 1.27 0.15 0.07 0.07 0.36 0.14 0.17 0.05 0.18

0.09 unch 0.00 1.46 - 0.25 0.16 - 0.06 0.10 + 0.03 0.09 + 0.02 0.42 + 0.02 0.15 unch 0.00 0.23 + 0.07 0.06 + 0.01 0.19 - 0.03

and shortly after Lithium X was delisted from the Venture Exchange. NextView acquired Lithium X as the first in a series of moves to obtain raw materia ls for electric vehicles. It a lso acquired a 20% stake in Bacanora Minerals, which has agreed to supply the company with 7,000 tonnes of lithium c a r b on at e p er ye a r f rom it s S onor a

lithium project in Mexico. Bacanora owns 100% of one mineral concession at Sonora and 70% of two others. Across those concessions, the project has 244 million proven and probable tonnes grading 3,480 ppm lithium a nd 1.45% potassiu m for 3.7 mi l l ion tonnes lithium carbonate attributable to Bacanora. TNM

TSX-V GREATEST PERCENTAGE CHANGE

IGC Res Atlantic Ind Asbestos Corp Micrex Dev Pac Bay Mnrls Troy Enrgy Western Pac Rs Pancontinental Altai Res PJX Res TVI Pacific Q-Gold Res Balto Res Buffalo Coal Colombia Crest Troymet Expl Imperial Mg Gr Getty Copper Surge Copper Astorius Res

IGC.H ANL.H AB.H MIX PBM TEG.H WRP PUC ATI PJX TVI QGR BAL.H BUF CLB TYE IPG GTC SURG ASQ

64 2529 19 39 200 356 273 668 1515 1206 380 190 233 16 257 1378 165 53 80 278

0.03 0.05 0.90 0.02 0.05 0.09 0.03 0.08 0.43 0.22 0.02 0.18 0.25 0.02 0.02 0.01 0.14 0.04 0.25 0.11

0.01 0.01 0.70 0.01 0.03 0.06 0.02 0.04 0.27 0.14 0.01 0.12 0.16 0.00 0.01 0.01 0.10 0.03 0.15 0.08

0.03 0.03 0.90 0.02 0.05 0.09 0.03 0.06 0.40 0.20 0.01 0.12 0.16 0.01 0.01 0.01 0.10 0.03 0.19 0.08

TSX-V GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

+ 150.0 + 66.7 + 63.6 + 50.0 + 50.0 + 50.0 + 50.0 + 50.0 + 48.1 + 42.9 - 50.0 - 46.5 - 36.0 - 33.3 - 33.3 - 33.3 - 32.1 - 28.6 - 27.5 - 27.3

VOLUME WEEK (000s) CLOSE CHANGE

Goldex Res Lithium X Egy Asbestos Corp Till Capital Atlantic Gold Aurania Res Wealth Mnrls Superior Gold Bear Creek Mng Mirasol Res Maya Gold &Sil Filo Mg Corp Sailfish Rylty Desert Lion Leeta Gold Pac Booker Min Bluestone Res Metalore Res Garibaldi Res Frontier Lith

GDX LIX AB.H TIL AGB ARU WML SGI BCM MRZ MYA FIL FISH DLI HIVE BKM BSR MET GGI FL

344 5758 19 1 2515 67 1472 2304 165 229 437 6 25 1099 10791 16 324 1 1196 456

1.52 2.57 0.90 4.89 1.86 3.10 1.64 1.25 2.21 2.17 2.13 2.35 1.85 1.60 1.46 1.07 1.24 2.29 2.11 0.63

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

0.45 0.37 0.35 0.34 0.29 0.21 0.17 0.16 0.16 0.16 0.28 0.25 0.25 0.25 0.25 0.23 0.23 0.21 0.19 0.18

U.S. MARKETS / MARCH 5–9 U.S. markets moved higher as U.S. President Donald Trump accepted an invitation to meet with North Korean strongman Kim Jong-un, and signed into law tariffs on imports of steel (25%) and aluminum (10%). (Canada and Mexico are exempt from the tariffs.) A strong jobs report also confirmed that unemployment was unchanged at 4.1%, while the economy created 313,000 new jobs in February, the biggest monthly gain since mid-2016. The Dow Jones Industrial Average rose 3.25% to 25,335.74 and the S&P 500 Index jumped 3.54% to 2,786.57. Gold finished at US$1,323.10 per ounce, up just 0.04%. Franco-Nevada’s shares were down US$2.39 to US$68.17, despite strong financial results. The company reported 2017 revenue of US$675 million — a new record — and a 10.6% increase year-on-year, while net income reached a record US$194.7 million, or US$1.06 per share. At year-end, Franco-Nevada had US$511.1 million in cash and equivalents, and no debt. Shares of Cleveland-Cliffs were down US52¢ to US$7.43. CEO Lourenco Goncalves applauded President Trump’s move to impose a 25% tariff on steel imports and “taking real action” to “punish the perpetrators and en-

18_MAR19_MarketNews.indd 18

ablers of unfairly traded steel.” Goncalves said the tariffs “will support our ability to continue to produce iron ore pellets and steel in our country, enhancing a vibrant manufacturing economy and our national security.” Tahoe Resources’ shares were down 4.7% to US$4.68. The company announced on March 8 that Guatemala’s Constitutional Court has requested more information in the legal case against its Escobal mine licence. The silver mine was suspended in mid-2017 over questions about the licence, which was granted by the Ministry of Energy and Mines (MEM). The Constitutional Court has requested U.S. MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Vale* VALE 103896 13.85 12.60 12.89 - 0.50 United States S* X 91538 47.36 42.32 43.69 - 1.70 Frprt McMoR* FCX 75885 18.89 17.71 18.43 + 0.11 Yamana Gold* AUY 69040 3.00 2.59 2.62 - 0.33 Cleveland-Clif* CLF 65223 8.16 7.27 7.43 - 0.52 Barrick Gold* ABX 55429 12.00 11.48 11.82 + 0.28 Harmony Gold* HMY 45424 2.35 2.10 2.20 + 0.05 Kinross Gold* KGC 41232 3.75 3.54 3.57 - 0.07 Eldorado Gold* EGO 39733 1.18 1.07 1.11 + 0.01 Chevron Corp* CVX 37252 117.39 111.02 117.22 + 5.58

original copies of documents submitted last July, and other information, including an anthropological study showing populations of indigenous people in the area; a third-party review of the environmental impact study and mitigation measures; and a third-party

review of MEM’s consultation that led to the first mining licence in 2013. Tahoe has ended contracts for half of its local employees, and said for every month of delay, US$4 million in taxes and royalties are not being paid to the government and local communities. TNM

U.S. GREATEST PERCENTAGE CHANGE

Trecora Res* Intrepid Pots* Sibanye Gold* Mosaic* Nutrien* First Majestic* Alcoa* Chevron Corp* CONSOL Energy* Goldcorp* Yamana Gold* CONSOL Energy* Peabody Enrgy* Cleveland-Clif* Teck Res* Arch Coal* Tahoe Res* IAMGOLD* Alamos Gold* Buenaventura*

TREC IPI SBGL MOS NTR AG AA CVX CNX GG AUY CEIX BTU CLF TECK ARCH TAHO IAG AGI BVN

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

784 13.75 10.25 13.70 + 26.9 8254 4.28 3.64 4.01 + 12.6 16660 4.36 3.94 4.20 + 7.1 29687 29.18 26.59 28.25 + 5.6 13687 53.75 49.25 52.15 + 5.4 14352 6.05 5.50 5.83 + 5.2 18692 48.73 44.85 47.86 + 5.1 37252 117.39 111.02 117.22 + 5.0 24263 18.09 16.58 17.55 + 5.0 32702 13.27 12.31 13.01 + 4.5 69040 3.00 2.59 2.62 - 11.2 2000 33.41 28.60 28.69 - 9.5 5899 41.37 38.18 38.51 - 6.7 65223 8.16 7.27 7.43 - 6.5 15899 28.81 26.25 26.44 - 6.5 1557 101.84 93.29 93.71 - 5.4 13122 5.06 4.51 4.68 - 4.7 17405 5.43 5.08 5.08 - 4.2 9060 5.40 4.90 5.00 - 4.0 5300 16.53 14.89 15.33 - 4.0

U.S. GREATEST VALUE CHANGE

Chevron Corp* CVX MartinMarietta* MLM Trecora Res* TREC Nutrien* NTR Alcoa* AA Southern Copp* SCCO Mosaic* MOS AEM Agnico Eagle* Suncor Energy* SU CONSOL Energy* CNX Arch Coal* ARCH CONSOL Energy* CEIX Peabody Enrgy* BTU Franco-Nevada* FNV Teck Res* TECK United States S* X NACCO Ind* NC Buenaventura* BVN Nexa Resources* NEXA Cleveland-Clif* CLF

VOLUME WEEK (000s) CLOSE CHANGE

37252 117.22 2748 209.18 784 13.70 13687 52.15 18692 47.86 6163 54.56 29687 28.25 6120 39.06 18372 32.56 24263 17.55 1557 93.71 2000 28.69 5899 38.51 4140 68.17 15899 26.44 91538 43.69 119 40.15 5300 15.33 2182 19.93 65223 7.43

+ 5.58 + 4.87 + 2.90 + 2.67 + 2.32 + 1.61 + 1.50 + 0.93 + 0.86 + 0.83 - 5.33 - 3.00 - 2.76 - 2.39 - 1.83 - 1.70 - 0.75 - 0.64 - 0.54 - 0.52

2018-03-13 8:22 PM

GLOBAL MINING NEWS · SINCE 1915

THE NORTHERN MINER / MARCH 19–APRIL 1, 2018

M E TA L S , M I N I N G A N D M O N EY M A R K E T S Tuesday, March 13, 2018 Precious Metals Price (US$/oz.) Change 1318.70 -6.25 Gold Silver $16.51 -0.11 Platinum $958.00 -9.00 Palladium $991.00 -1.00 Base Metals Nickel Copper Lead Zinc

TSX WARRANTS

PRODUCER AND DEALER PRICES

SPOT PRICES COURTESY OF SCOTIABANK

Price (US$/tonne) Change $13880.00 +200.00 $6950.50 +32.00 $2396.00 +47.00 $3296.00 +55.50

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, March 9, 2018 (change from March 2, 2018 in brackets): Aluminium Alloy 12760 (-40) Aluminium 1311725 (-11325) Copper 311125 (-13775) Lead 131525 (-3100) Nickel 328998 (-5118) Tin 1555 (-215) Zinc 202575 (+70800)

Thermal Coal CAPP: US$40.00 per short ton Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$63.10 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$12.40 Cobalt: US$38.33/lb. Copper: US$3.11/lb. Copper: CME Group Futures April 2018: US$3.12/lb.; May 2018: US$3.14/lb Ferro-Chrome: US$2.80/kg Ferro Titanium: US$4.90/kg FerroTungsten: US$31.40/kg Ferrovanadium: US$35.20/kg Iridium: NY Dealer Mid-mkt US$1000.00/tr oz. Iron Ore 62% Fe CFR China-S: US$69.00/tonne Iron Ore Fines: US$71.00/tonne Iron Ore Pellets: US$108.00/tonne Lead: US$1.06/lb. Magnesium: US$2.25/kg Manganese: US$2.04/kg Molybdenum Oxide: US$8.39/lb. Phosphate Rock: US$86.00/tonne Potash: US$226.00/tonne Rhodium: Mid-mkt US$1,860.00 tr. oz. Ruthenium: Mid-mkt US$200.00/tr. oz. Silver: Handy & Harman Base: US$16.50 per oz.; Handy & Harman Fabricated: US$20.62 per oz. Tantalite Ore : US$158.90/kg Tin: US$9.75/lb. Uranium: U3O8, Trade Tech spot price: US$22.25; The UX Consulting Company spot price: US$22.25/lb. Zinc: US$1.48/lb. Prices current Mar. 13, 2018

NORTH AMERICAN STOCK EXCHANGE INDICES

52-week

Mar 09 Mar 08 Mar 07 Mar 06 Mar 05 High Low Index S&P/TSX Composite 15577.81 15538.70 15472.61 15545.19 15541.28 15527.30 12400.15 S&P/TSXV Composite 828.90 829.47 831.94 843.57 839.19 1050.26 883.52 S&P/TSX 60 921.64 919.12 915.69 919.37 919.77 896.74 709.99 S&P/TSX Global Gold 180.05 181.40 181.95 185.84 183.76 218.90 149.29 DJ Precious Metals 157.30 157.30 157.30 160.64 157.25 420.72 130.95

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of Mar 01, 2018 (with changes from Feb 16, 2018) Largest short positions Ivanhoe Mines IVN 16539492 2322799 2/16/2018 Sandstorm Gold SSL 16067892 107307 2/16/2018 Eldorado Gold ELD 15763747 -764966 2/16/2018 Suncor Energy SU 12514378 29851 2/16/2018 Turquoise HIl TRQ 10434248 680672 2/16/2018 First Quantum FM 10177246 431157 2/16/2018 OceanaGold OGC 9330899 -50455 2/16/2018 McEwen Mng MUX 8449316 1853514 2/16/2018 Yamana Gold YRI 7970057 907122 2/16/2018 First Majestic FR 7599729 427760 2/16/2018 B2Gold BTO 7086213 808300 2/16/2018 Nevsun Res NSU 6813329 -1319967 2/16/2018 Alacer Gold ASR 6764730 90608 2/16/2018 Lundin Mng LUN 6089493 1001390 2/16/2018 New Gold NGD 5991011 102567 2/16/2018 Largest increase in short position Ivanhoe Mines IVN 16539492 2322799 2/16/2018 MUX 8449316 1853514 2/16/2018 McEwen Mng Lundin Mng LUN 6089493 1001390 2/16/2018 Yamana Gold YRI 7970057 907122 2/16/2018 B2Gold BTO 7086213 808300 2/16/2018 Largest decrease in short position eCobalt Solns ECS 1058548 -3739261 2/16/2018 Titan Mining TI 21278 -2701822 2/16/2018 Primero Mng P 35243 -2616607 2/16/2018 Golden Queen GQM 603700 -1718400 2/16/2018 Gold Std Vents GSV 60500 -1484000 2/16/2018

Short positions outstanding as of Mar 01, 2018 (with changes from Feb 16, 2018) Largest short positions Leeta Gold HIVE 12753589 -911869 2/16/2018 SilverCrest Mt SIL 1943600 281200 2/16/2018 Millennial Lit ML 1670100 1450200 2/16/2018 Atlantic Gold AGB 1643800 1490300 2/16/2018 Neo Lithium NLC 1470300 -8871 2/16/2018 US Cobalt USCO 984960 323696 2/16/2018 Noble Mnl Expl NOB 792300 -1021500 2/16/2018 Osisko Metals OM 692600 56600 2/16/2018 Sunvest Mnrls SSS 501100 -23300 2/16/2018 Advantage Lith AAL 453400 -268800 2/16/2018 Gratomic GRAT 355004 -178767 2/16/2018 Garibaldi Res GGI 349688 -587534 2/16/2018 ML Gold Corp MLG 335967 314866 2/16/2018 Revelo Res RVL 300600 300500 2/16/2018 Manganese X MN 300000 300000 2/16/2018 Largest increase in short position AGB 1643800 1490300 2/16/2018 Atlantic Gold Millennial Lit ML 1670100 1450200 2/16/2018 US Cobalt USCO 984960 323696 2/16/2018 ML Gold Corp MLG 335967 314866 2/16/2018 Revelo Res RVL 300600 300500 2/16/2018 Largest decrease in short position Nitinat Mnls NZZ 126000 -4050500 2/16/2018 Cypress Dev CYP 29000 -2158335 2/16/2018 Noble Mnl Expl NOB 792300 -1021500 2/16/2018 Leeta Gold HIVE 12753589 -911869 2/16/2018 GGI 349688 -587534 2/16/2018 Garibaldi Res

Alamos Gold (AGI.WT) - Wt buys sh @ $28.47 to Aug 30/18 Alamos Gold (AGI.WT.A) - Wt buys sh @ $10.00 to Jan 7/19 Alio Gold Inc. (ALO.WT) - 10 Warrants to purchase one common share of the Issuer at $7.00 until expiry Alio Gold Inc. J (ALO.WT.A) - One Warrant to purchase one common share of the Issuer at $8.00 until expiry Ascendant Resources (ASND.WT) - Wt buys sh @ $1.25 to Mar 7/22 eColbalt Solutions Inc. J (ECS.WT) - One Warrant to purchase one common share of the Issuer at US$1.95 per share until expiry Excellon Resources Inc (EXN.WT.A) - One warrant to purchase one common share of the Issuer at $2.80 until expiry Excellon Resources Inc (EXN.WT) - Wt buys sh @ $1.75 to Jul 26/18 GoGold Resources Inc. (GGD.WT) - Wt buys sh @ $1.7 to Jun 7/18 Golden Queen Mining Co (GQM.WT) Wt buys sh @ $2 to Jul 25/19 Gran Colombia Gold (GCM.WT.A) - Wt buys sh @ $3.25 to Mar 18/19

HudBay Minerals (HBM.WT) - Wt buys sh @ $15 to Jul 20/18 Liberty Gold Corp. Wt (LGD.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry may 16, 2019 Lithium Americas Corp (LAC.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry Lydian International Limited (LYD.WT) One Warrant to purchase one additional ordinary share of the Issuer at $0.36 per share until expiry MBAC Fertilizer (MBC.WT) - Wt buys sh @ $1 to Apr 17/19 Nemaska Lithium Inc (NMX.WT) - Wt buys sh @ $1.5 to Jul 8/19 Northern Dynasty Minerals Ltd. J (NDM. WT.A) - Wt buys sh @ $0.55 to Jul 9/20 Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21 Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21 Oban Mining J (OBM.WT) - Wt buys 20 sh @ $3 to Aug 25/18 Osisko Gold Royalties (OR.WT) - Wt buys sh @ $36.5 to Feb 18/22

ABE Resources Inc. (ABE.WT) - One warrant to purchase one common share at $0.15 per share. American Cumo Mining Corp. (MLY.RT) 2 rights and $0.07 are required to purchase one share Atlantic Gold (AGB.WT) - Wt buys sh @ $0.6 to Aug 20/18 Avino Silver & Gold Mines Ltd. (ASM. WT) - Wt buys sh @ US$0.2 to Nov 28/19 Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.30 per share. Brazil Resources (BRI.WT) - Wt buys sh @ $0.75 to Dec 31/18 Cordoba Minerals Corp (CDB.WT) - One warrant to purchase one common share at $1.08 per share. Cornerstone Capital Resources (CGP. WT.S) - Wt buys sh @ $0.35 to Apr 07/19

Equinoxgold Corp (EQX.WT) - One warrant to purchase one common share at $3.00 per share. Falco Resources Ltd. (FPC.WT) - One warrant to purchase one common share at $1.70 per share. Goldmining Inc. (GOLD.WT) - Wt buys sh @ $0.75 to Dec 31/18 Goldstar Minerals (GDM.RT) - One Right to purchase one common share at $0.03 per share. JDL Gold Corp. (JDL.WT) - Wt buy sh @ $3.00 to Oct 06/21 Jet Metal (JET.WT) - Wt buys sh @ $0.25 to Sep 16/19 Jet Metal (JET.WT.A) - Wt buys sh @ $0.5 to Feb 28/19 Kootenay Silver Inc. (KTN.WT) - Wt buys sh @ $0.55 to Apr 21/21

Osisko Gold Royalties (OR.WT.A) - Wt buys sh @ $19.08 to Feb 26/19 Osisko Mining Inc. J (OSK.WT) - 20 Wt buys sh @ $3 to Aug 25/18 Pilot Gold Inc. Wt (PLG.WT) - Wt buys sh @ $0.9 to May 16/19 Prairie Provident Resources Inc Wt (PPR. WT) - Wt buys sh @ $0.87 to Mar 16/19 Primero Mining Corp (P.WT.C) - Wt buys sh @ $3.35 to Jun 24/18 Sandstorm Gold (SSL.WT.B) - One Warrant to purchase one common share of the Issuer at US $14.00 until expiry. Sherritt International Corporation (S.WT) - Each whole Warrant entitles the holder to acquire between 1.00 and 1.25 additional common shares (as bulletin 20180062 table ) determined based on the Applicable Reference Cobalt Price at an exercise price of $1.95 per Warrant at any time prior to the Expiry Date Sprott Resource Corp (SRHI.WT) - Wt buys sh @ $0.3333 to Feb 09/22 Timmins Gold Corp (TMM.WT) - Wt buy sh at $0.7 to May 30/18

TSX VENTURE WARRANTS Maple Gold Mines Ltd. (MGM.WT) One warrant to purchase one common share at $0.40 per share Rainy Mountain Royalty Corp. (RMO. WT) - Wt buys sh @ $0.15 to Mar 1/18 and sh @ $0.25 from Mar 2/18 to Mar 1/19 Rainy Mountain Royalty Corp. (RMD. WT) - Wt buys sh @ $0.15 to Mar 1/18 and sh @ $0.25 from Mar 2/18 to Mar 1/19 Silvercrest Metals Inc. (SIL.WT) - Wt buys sh @ $3 to Dec 06/18 Tintina Resources Inc. (TAU.RT) - Nine(9) Rights exercisable for one share at $0.06 per share. Trek Mining (TREK.WT) - Wt buy sh @ $3.00 to Oct 06/21 West Kirkland Mining (WKM.WT) - Wt buys sh @ $0.3 to Apr 17/19

NEW 52-WEEK HIGHS AND LOWS MARCH 5–9, 2018 60 New Highs Altai Res Arch Coal* Asbestos Corp Asiamet Res* Atlantic Gold Aziel Corp* Braveheart Res* Buenaventura* Canex Energy* Chakana Copper CONSOL Energy* Copper Ck Gold Cornerstone Mt Darien Res Erin Ventures* Fort St James Generic Gold Golden Global* Goldex Res

Goldex Res* Goldstar Mnls Goldstream Mnl Graphite Egy Graphite Egy* Inter-Rock Mnl Itafos Itafos* JDF Explor Inc Kirkland Lake Lithium X Egy Lupaka Gold Lynas Corp* Manganese X Manganese X* Manson Creek Mawson Res* Mineral Mtn Nitinat Mnls* Noram Vent

Northn Empire Nrthn Mnrls &E* Pac Imperial Paladin Energy* PanTerra Gold* Prospect Glob* Rainforest Res* Running Fox Rs* Rupert Res Sable Res Sable Res* San Marco Res San Marco Res* Southern Copp* Squire Mg Ltd Teranga Gold US Cobalt Wescan Gldflds* Western Pac Rs* Xiana Mng*

Ximen Mng

57 New Lows Alamos Gold* Arianne Phosph Ascot Res Atico Mng Auryn Res Auryn Res* Bearing Lith Calibre Mng Callinex Mines* Canada Cobalt Canex Energy Cartier Res Cdn Zinc Clarmin Explor Comstock Mtls * Copper Fox Mtl Cordoba Mnls Cordoba Mnls*

Corex Gold Desert Lion Erdene Res Dev Erdene Res Dev* First Mg Fin First Mg Fin * Focus Graphite* Fura Gems* Gabriel Res GFG Resources* Golden Dawn Ml Gowest Gold Gray Rock Res* Green River Group Eleven IDM Mining* Infinite Lith Lithium Chile* Mexus Gold* Millrock Res*

Minera Alamos MineralRite* New Gold* Nexus Gold Orex Mnrls Oronova Energy Pacific Rim* Power Metals* Pure Energy Pure Energy* Rathdowney Res Redstar Gold* Saint Jean Solitario Ex&R* Teras Res* Torex Gold* United Silver* Victoria Gold VR Resources*

CANADIAN GOLD MUTUAL FUNDS DAILY METAL PRICES Daily Metal Prices Date Mar 12 Mar 9 Mar 8 Mar 7 Mar 6 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) Al Alloy 1845/1855 1845/1855 1845/1855 1855/1855 1850/1860 Aluminum 2096.50/2117 2078/2098.50 2082/2103.50 2112/2131.50 2135.50/2154.50 Copper 6856/6828 6857/6830 6895/6855 6872.50/6915 6968/7003 Lead 2345/2344 2351/2348 2371/2367 2418.50/2422 2435/2436 Nickel 13720/13750 13335/13385 13240/13295 13350/13400 13575/13575 Tin 21475/21355 21325/21255 21625/21525 21490/21335 21585/21450 Zinc 3258/3257 3215.50/3213 3241/3240 3286.50/3286.50 3334/3328 PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.) Gold AM 1317.25 1319.35 1325.40 1332.50 1324.95 Gold PM 1319.15 1320.60 1321.00 1329.40 1331.40 Silver 16.46 16.49 16.48 16.65 16.62 Platinum 958.00 949.00 954.00 959.00 966.00 Palladium 986.00 984.00 985.00 980.00 996.00

Fund Mar 09 ($) Mar 02 ($) Change ($) Change (%) YTDChange (%) MER (%) TotalAssets (M$) AGF Prec Mtls Fd MF 19.71 19.88 -0.17 -0.86 -5.97 2.81 113.32 BMO Prec Mtls Fd A 16.89 16.94 -0.05 -0.30 -6.68 2.40 57.62 BMO ZGD 8.66 8.78 -0.12 -1.40 -8.93 0.63 BMO ZJG 8.51 8.65 -0.13 -1.54 -6.35 0.60 CIBC Prec Metal Fd A 9.15 9.22 -0.06 -0.70 -10.74 2.58 42.65 Dyn Prec Metls Fd A 6.73 6.65 0.08 1.20 -6.28 2.66 338.04 GOGO 10.02 10.08 -0.06 -0.55 Horizons HEP 22.87 22.80 0.07 0.31 -7.07 0.81 IG Mac GbPMetCl A 8.29 8.32 -0.02 -0.26 -7.65 2.75 35.82 iShares XGD 11.25 11.33 -0.08 -0.69 -8.15 0.55 743.74 44.26 44.38 -0.12 -0.27 -7.69 2.52 77.56 Mac Prec Met Cl A NBI PrecMetFd Invt 10.95 11.08 -0.13 -1.17 -12.28 2.46 26.43 30.48 30.98 -0.50 -1.61 -8.44 2.13 323.79 RBC GblPreMetFd A Redw UITGoDe&ProCl A 10.00 10.00 0.00 0.00 0.00 Sentry Pre Met Fd A 34.52 34.85 -0.33 -0.95 -11.53 2.44 142.43 Sprott Gold&PrMinFdA 33.92 34.12 -0.19 -0.57 -7.41 2.96 144.02 5.29 5.26 0.03 0.55 -7.24 3.36 115.55 Sprott SilverEquCl A TD PreciousMetalsInv 30.60 30.75 -0.15 -0.49 -9.80 2.27 108.85

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

Mar 09 Mar 08 Mar 07 Mar 06 Mar 05 1.2809 1.2897 1.2907 1.2949 1.2980 0.7807 0.7754 0.7748 0.7722 0.7704

Exchange rates (Quote Media, March 9, 2018) C$ to AUS C$ to EURO C$ to YEN C$ to Mex Peso C$ to SA Rand 0.99391 0.6342 83.3785 14.5340 9.2179 C$ to UK Pound C$ to China Yuan C$ to India Rupee C$ to Swiss Franc C$ to S. Korea Won 0.5638 4.9417 50.8259 0.7425 831.4483 US to AUS US to EURO US to YEN US to Mex Peso US to SA Rand 1.2741 0.8125 106.8180 18.6157 11.8215 US to UK Pound US to China Yuan US to India Rupee US to Swiss Franc US to S. Korea Won 0.7219 6.3351 64.9449 0.9512 1065.3000

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

19_MAR19_MMMM.indd 19

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

GLOBAL MINING NEWS · SINCE 1915

Re-Publishing License Own your moment in the press with a Re-Publishing License for any article printed in The Northern Miner or posted on our website. Basic Re-Publishing License cost: $525

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

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

2018-03-13 5:31 PM

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: MARCH 5–9, 2018 (100s) Stock

WWW.NORTHERNMINER.COM

MARCH 19–APRIL 1, 2018 / THE NORTHERN MINER

Week

12-month

Exc Volume High Low Last Change High Low

A 37 Capital 1 0.00 0.00 0.20 unch 0.00 0.35 0.12 0.07 92 Resources V 621 0.10 0.09 0.10 + 0.01 0.27 92 Resources* O 24 0.08 0.08 0.08 + 0.01 0.20 0.06 0.19 0.16 0.18 + 0.01 2.88 0.06 Abacus Mng &Ex* O 363 Abacus Mng &Ex V 168 0.24 0.21 0.23 + 0.02 1.25 0.19 Abcourt Mines V 292 0.07 0.07 0.07 - 0.01 0.10 0.06 O 370 0.06 0.06 0.06 + 0.00 0.08 0.04 Abcourt Mines* ABE Resources V 384 0.53 0.43 0.47 - 0.04 0.79 0.18 O 59 0.38 0.34 0.34 - 0.06 0.62 0.34 ABE Resources* Aben Res V 886 0.17 0.15 0.15 - 0.02 0.50 0.09 0.07 Aben Res* O 244 0.13 0.11 0.11 - 0.02 0.41 Aberdeen Intl* O 8 0.15 0.13 0.15 + 0.02 0.16 0.09 0.11 Aberdeen Intl T 621 0.20 0.17 0.20 + 0.03 0.21 Abitibi Royalt* O 12 7.72 0.00 7.42 - 0.03 8.13 6.00 Abitibi Royalt V 10 10.00 0.00 9.58 - 0.03 10.25 7.41 AbraPlata Res* O 219 0.18 0.14 0.14 - 0.04 0.48 0.13 AbraPlata Res V 597 0.23 0.17 0.17 - 0.05 0.63 0.03 Acacia Mining* O 0 0.00 0.00 2.25 unch 0.00 3.90 2.01 Adamera Mnls V 1354 0.18 0.16 0.18 - 0.01 0.24 0.07 Adamera Mnls* O 1027 0.14 0.12 0.13 - 0.01 0.18 0.05 Adex Mining V 1246 0.02 0.01 0.02 unch 0.00 0.04 0.01 Advance Gold V 112 0.09 0.00 0.08 - 0.03 0.13 0.05 Advanced Expl* O 401 0.00 0.00 0.00 unch 0.00 0.00 0.00 O 808 0.95 0.84 0.88 + 0.03 1.14 0.28 Advantage Lith* Advantage Lith V 1094 1.21 1.08 1.11 + 0.04 1.42 0.36 Adventus Zinc V 21 0.80 0.77 0.80 + 0.05 1.15 0.57 0.01 Affinity Gold* O 75 0.03 0.02 0.02 + 0.00 0.05 Affinity Metal* O 1 0.04 0.04 0.04 unch 0.00 0.06 0.03 African Gold V 1164 0.05 0.04 0.05 + 0.01 0.09 0.04 African Queen V 932 0.04 0.04 0.04 - 0.01 0.07 0.02 Aftermath Slvr* O 0 0.09 0.00 0.09 - 0.00 0.14 0.00 Aftermath Slvr V 2 0.12 0.00 0.12 unch 0.00 0.19 0.04 Agnico Eagle T 2865 51.06 48.67 50.04 + 0.89 68.76 48.04 Agnico Eagle* N 6120 39.61 37.48 39.06 + 0.93 51.86 37.35 unch 0.00 0.00 0.00 AgriMinco* O 13 0.00 0.00 0.00 Aguia Resource V 197 0.35 0.30 0.32 - 0.03 0.50 0.30 Aguila Amer Gd V 3 0.18 0.18 0.18 unch 0.00 0.40 0.18 0.01 Aida Minerals 2050 0.35 0.28 0.33 - 0.03 1.50 Alabama Graph* O 485 0.06 0.05 0.06 + 0.01 0.17 0.05 Alabama Graph V 769 0.08 0.07 0.08 + 0.01 0.21 0.06 Alacer Gold T 1692 2.17 2.03 2.10 - 0.01 2.98 1.95 Alamos Gold T 3487 6.97 6.34 6.40 - 0.32 11.36 6.23 Alamos Gold* N 9060 5.40 4.90 5.00 - 0.21 8.58 4.90 Alaska Pac Egy* O 5600 0.00 0.00 0.00 unch 0.00 0.02 0.00 Albert Mining V 123 0.07 0.07 0.07 - 0.01 0.11 0.04 Albert Mining* O 1 0.05 0.05 0.05 unch 0.00 0.08 0.03 Alchemist Mng 998 0.15 0.12 0.12 - 0.02 0.35 0.05 Alcoa* N 18692 48.73 44.85 47.86 + 2.32 57.50 29.55 Alderon Iron* O 4 0.21 0.19 0.21 + 0.01 0.35 0.16 Alderon Iron T 238 0.28 0.24 0.27 + 0.01 0.48 0.21 Aldershot Res V 255 0.06 0.03 0.04 - 0.01 0.10 0.03 Aldever Res* O 29 0.03 0.00 0.03 + 0.00 0.06 0.02 Aldever Res V 230 0.03 0.00 0.03 unch 0.00 0.08 0.03 Aldridge Min* O 57 0.09 0.06 0.06 - 0.03 0.19 0.06 Aldridge Min V 530 0.10 0.05 0.08 - 0.03 0.27 0.05 Alexandra Cap 27 0.71 0.70 0.70 - 0.05 0.93 0.05 O 6 0.54 0.00 0.54 - 0.11 0.77 0.49 Alexandra Cap* Alexandria Min* O 217 0.08 0.07 0.07 + 0.00 0.09 0.04 Alexandria Min V 3280 0.10 0.09 0.09 unch 0.00 0.12 0.05 1.41 Alexco Res T 302 1.88 1.70 1.83 + 0.11 2.32 Alexco Res* X 1324 1.47 1.30 1.43 + 0.11 1.85 1.10 Algold Res V 263 0.15 0.13 0.14 unch 0.00 0.29 0.12 Alianza Min V 715 0.11 0.08 0.09 + 0.01 0.16 0.05 Alianza Min* O 109 0.07 0.06 0.06 + 0.00 0.12 0.04 Allegiant Gold V 478 0.60 0.51 0.59 + 0.06 0.75 0.47 Allegiant Gold* O 288 0.50 0.38 0.44 + 0.01 0.58 0.00 Alliance Mng V 232 0.05 0.04 0.04 unch 0.00 0.06 0.04 17.48 Alliance Res* D 1282 18.09 17.64 17.65 - 0.25 23.45 Almaden Mnls T 97 1.16 1.10 1.10 - 0.03 2.33 0.92 Almaden Mnls* X 891 0.90 0.85 0.85 - 0.04 1.75 0.71 0.89 Almadex Min V 436 1.66 1.48 1.55 - 0.01 1.75 Almadex Min* O 608 1.30 1.14 1.21 + 0.01 1.44 0.65 Almonty Ind V 123 0.55 0.50 0.51 - 0.04 0.69 0.20 Alopex Gold V 15 0.50 0.46 0.46 - 0.02 0.71 0.48 Alphamin Res * O 15 0.26 0.24 0.24 - 0.02 0.35 0.23 Alphamin Res V 200 0.32 0.30 0.30 - 0.02 0.44 0.25 Alset Minerals* O 32 0.11 0.05 0.11 + 0.06 0.43 0.11 Alset Minerals V 135 0.15 0.13 0.14 - 0.01 0.60 0.13 Altai Res V 1515 0.43 0.27 0.40 + 0.13 0.37 0.05 Altair Res Inc* O 1 0.05 0.05 0.05 unch 0.00 0.27 0.05 Altair Res Inc V 270 0.06 0.05 0.05 - 0.01 0.40 0.05 0.14 Altamira Gold V 122 0.23 0.20 0.23 + 0.02 0.35 Altamira Gold* O 134 0.18 0.16 0.18 + 0.01 0.29 0.11 Altan Rio Mnls* O 25 0.01 0.01 0.01 unch 0.00 0.01 0.01 Altan Rio Mnls V 25 0.02 0.02 0.02 unch 0.00 0.03 0.01 Altiplano Mnls V 772 0.48 0.37 0.43 + 0.02 0.64 0.11 Altitude Res V 539 0.09 0.07 0.07 unch 0.00 0.09 0.03 Altius Mnrls T 204 13.86 12.93 13.36 - 0.04 15.58 10.05 Alto Vent V 517 0.05 0.05 0.05 unch 0.00 0.14 0.05 0.31 0.26 0.31 + 0.01 0.40 0.09 Altura Mng Ltd* O 552 Alturas Mnrls V 110 0.04 0.03 0.03 - 0.01 0.06 0.02 Alumina Inc* O 42 7.52 7.12 7.33 + 0.33 8.15 4.95 ALX Uranium* O 50 0.07 0.07 0.07 unch 0.00 0.09 0.05 0.07 ALX Uranium V 306 0.08 0.08 0.08 + 0.01 0.14 Am Creek Res V 1369 0.05 0.05 0.05 unch 0.00 0.08 0.04 Am CuMo Mng* O 85 0.06 0.05 0.06 + 0.01 0.35 0.05 0.07 0.07 0.07 unch 0.00 0.49 0.07 Am CuMo Mng V 218 Am Manganese* O 694 0.21 0.19 0.20 - 0.02 0.28 0.10 Am Manganese V 847 0.27 0.25 0.25 - 0.01 0.35 0.13 Am Sierra Gold* O 8 0.02 0.00 0.02 + 0.00 0.05 0.01 O 38 0.16 0.00 0.15 unch 0.00 0.16 0.06 Amador Gold* Amani Gold* O 15 0.02 0.02 0.02 unch 0.00 0.03 0.01 Amarc Res V 161 0.15 0.13 0.14 + 0.01 0.26 0.11 Amarc Res* O 176 0.11 0.10 0.11 + 0.01 0.21 0.09 Amarillo Gold V 213 0.30 0.27 0.28 + 0.01 0.45 0.24 Amazing Energy* O 1279 0.85 0.51 0.72 + 0.12 0.87 0.20 0.02 0.01 0.02 unch 0.00 0.11 0.01 Amer Intl Vent* O 425 American Lith* O 44 0.61 0.00 0.61 + 0.04 0.67 0.32 unch 0.00 1.75 0.33 American Lith V 182 0.77 0.70 0.73 American Pac 301 0.40 0.35 0.38 unch 0.00 0.40 0.35 X 150 3.60 3.34 3.45 - 0.17 5.04 2.50 Americas Silvr* Americas Silvr T 166 4.62 4.33 4.42 - 0.08 6.11 3.22 0.49 Amerigo Res T 434 1.10 1.04 1.07 + 0.01 1.35 Amerigo Res* O 261 0.86 0.81 0.82 + 0.01 1.09 0.30 Amex Expl* O 6 0.09 0.09 0.09 unch 0.00 0.20 0.08 0.08 Amex Expl V 402 0.12 0.10 0.12 + 0.02 0.38 Anaconda Mng T 676 0.44 0.35 0.38 - 0.03 0.56 0.22 Anaconda Mng* O 94 0.34 0.29 0.30 - 0.02 0.48 0.16 Anconia Res V 400 0.02 0.02 0.02 unch 0.00 0.05 0.01 Andes Gold* O 2 0.01 0.01 0.01 + 0.00 0.03 0.00 Andover Mng* O 6 0.00 0.00 0.00 unch 0.00 0.00 0.00 Anfield Energy* O 15 0.30 0.29 0.30 - 0.01 0.84 0.20 V 282 0.43 0.35 0.43 + 0.04 1.15 0.23 Anfield Energy Angel Gold* O 41 0.06 0.05 0.05 - 0.00 0.09 0.03 Angel Gold V 241 0.07 0.06 0.06 unch 0.00 0.12 0.04 Angkor Gold V 36 0.20 0.19 0.20 unch 0.00 0.39 0.15 O 295 12.42 11.64 12.22 + 0.35 13.13 5.95 Anglo American* Anglo American* O 2 24.33 0.00 24.33 + 0.43 26.02 12.19 20 2.50 2.50 2.50 unch 0.00 3.18 1.31 Anglo Pac Grp T Anglo-Bomarc V 17 0.08 0.07 0.07 - 0.01 0.15 0.05 AngloGold Ash* O 3 10.47 0.00 10.47 unch 0.00 12.75 8.88 AngloGold Ash* N 10595 9.94 9.32 9.69 + 0.33 13.31 8.86 V 25 0.40 0.40 0.40 unch 0.00 0.50 0.35 Angus Ventures Antioquia Gold* O 75 0.05 0.03 0.05 unch 0.00 0.14 0.02 Antioquia Gold V 221 0.06 0.05 0.06 unch 0.00 0.20 0.05 0.11 Antler Gold V 299 0.14 0.11 0.12 - 0.01 0.50 Antofagasta* O 10 12.43 0.00 12.43 + 0.73 14.25 9.09 APAC Res Inc* O 0 0.15 0.15 0.15 unch 0.00 0.20 0.01 APAC Res Inc 107 0.30 0.29 0.29 - 0.01 0.50 0.03 Apex Res V 205 0.10 0.09 0.10 unch 0.00 0.15 0.07 Apogee Opport V 147 0.26 0.00 0.25 - 0.02 0.39 0.14 Apogee Opport * O 1 0.21 0.21 0.21 unch 0.00 0.28 0.10 Appia Energy 98 0.16 0.14 0.14 + 0.01 0.40 0.10 Applied Mrnls* O 205 0.14 0.11 0.13 - 0.00 0.15 0.02 Aquila Res* O 323 0.21 0.19 0.20 - 0.00 0.24 0.17 0.22 Aquila Res T 266 0.27 0.25 0.26 - 0.01 0.32 Arch Coal* N 1557 101.84 93.29 93.71 - 5.33 101.84 60.13 Archon Mineral V 0 0.00 0.00 0.87 unch 0.00 1.68 0.81 Arctic Star* O 220 0.17 0.15 0.17 + 0.02 0.24 0.09 Arctic Star V 1591 0.23 0.20 0.23 + 0.02 0.38 0.09 Arcus Dev Grp V 137 0.05 0.04 0.05 + 0.01 0.19 0.04 Arena Mnls V 528 0.07 0.06 0.07 + 0.01 0.30 0.06 Arena Mnls* O 81 0.05 0.04 0.04 unch 0.00 0.23 0.04 Argentina Lith* O 78 0.27 0.23 0.25 + 0.01 0.48 0.07 Argentina Lith V 663 0.35 0.29 0.31 - 0.01 0.60 0.08 Argentum Silvr V 55 0.20 0.17 0.20 + 0.02 0.44 0.17 Argentum Silvr* O 1 0.13 0.13 0.13 + 0.00 0.29 0.13 Argex Titanium T 2098 0.06 0.05 0.05 unch 0.00 0.10 0.04 Argex Titanium* O 45 0.05 0.05 0.05 - 0.00 0.07 0.03 Argo Gold* O 30 0.12 0.12 0.12 unch 0.00 0.18 0.11

20-23_MAR19_StockTables.indd 20

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Argo Gold 288 Argonaut Gold* O 104 T 1393 Argonaut Gold Argus Metals* O 0 Argus Metals V 61 Arian Silver* O 162 Arianne Phosph* O 93 Arianne Phosph V 228 Arizona Mng* O 186 Arizona Mng T 1125 Arizona Silver V 231 Arizona Silver* O 197 Armor Mnrls V 1 Arrowstar Res V 32 Asanko Gold T 1514 Asanko Gold* X 5060 Asante Gold 8 Asante Gold* O 14 Asbestos Corp V 19 Ascot Res V 509 Ashanti Sanko V 216 Ashburton Vent* O 10 Ashburton Vent V 364 AsiaBaseMetals V 25 Asiamet Res* O 12 Asian Minl Res V 2505 Aston Bay V 808 Astorius Res V 278 ATAC Res V 239 Atacama Pacif V 126 Atacama Pacif* O 1 Atacama Res* O 90919 Athabasca Mnls* O 110 V 115 Athabasca Mnls Athena Silver* O 10 Atico Mng* O 154 Atico Mng V 155 Atlanta Gold* O 68 Atlanta Gold V 101 Atlantic Gold V 2515 Atlantic Ind V 2529 Atlatsa Res* O 68 Atlatsa Res T 280 Atom Energy * O 3 Atom Energy V 3 Aton Res Inc V 1203 Aton Res Inc* O 50 Aura Mnls* O 18 Aura Mnls T 7 Aura Silver Rs V 465 Auramex Res V 150 Aurania Res* O 61 Aurania Res V 67 Aurcana Corp V 130 Aurcana Corp* O 50 AurCrest Gold V 716 Aurion Res * O 41 Aurion Res V 442 Aurora Royal V 148 Aurum* O 100 Auryn Res* X 553 Auryn Res T 684 Austin Res V 575 Austral Gold* O 4 Austral Gold V 173 O 114 Australian Mns* Auxico Res 1044 Avalon Adv Mat T 621 Avalon Adv Mat* O 365 Avarone Metals* O 28 Avarone Metals 4379 Avesoro Res T 39 Avesoro Res* O 1 Avidian Gold V 488 Avino Silver* X 401 Avino Silver T 49 Avrupa Mnls* O 664 Avrupa Mnls V 2212 Awale Res V 34 AXE Expl V 1632 Axmin Inc* O 0 Axmin Inc V 61 Azarga Mtls V 25 Azarga Mtls* O 4 Azarga Uranium* O 0 Azarga Uranium T 467 Aziel Corp* O 3 Azimut Expl V 129 Azincourt Ener V 1354 Azincourt Ener* O 146 V 268 Aztec Minerals Aztec Minerals* O 238 Azteca Gold* O 264

0.20 0.15 0.18 + 0.01 0.26 0.13 2.00 1.83 1.86 - 0.07 2.40 1.31 2.58 2.35 2.37 - 0.11 2.92 1.76 0.00 0.00 0.35 unch 0.00 0.55 0.06 0.44 0.00 0.38 - 0.02 0.75 0.07 0.00 0.00 0.00 - 0.00 0.02 0.00 0.47 0.39 0.43 - 0.02 0.73 0.39 0.60 0.53 0.59 + 0.01 0.97 0.53 3.34 3.00 3.08 - 0.05 5.90 1.30 4.09 3.87 3.93 - 0.12 4.87 1.70 0.20 0.17 0.17 - 0.02 1.23 0.14 0.16 0.13 0.13 - 0.03 0.91 0.11 0.00 0.00 0.44 unch 0.00 0.55 0.32 0.08 0.06 0.08 + 0.02 0.09 0.03 1.21 1.02 1.08 - 0.03 3.79 0.55 0.94 0.79 0.83 - 0.03 2.84 0.43 0.07 0.06 0.07 + 0.02 0.18 0.06 0.06 0.00 0.06 - 0.02 0.12 0.06 0.90 0.70 0.90 + 0.35 0.85 0.20 1.35 1.20 1.25 - 0.10 2.10 1.20 0.03 0.03 0.03 - 0.01 0.09 0.02 0.08 0.00 0.08 + 0.01 0.24 0.05 0.09 0.08 0.09 - 0.01 0.34 0.06 0.28 0.28 0.28 unch 0.00 0.45 0.19 0.19 0.11 0.19 + 0.08 0.19 0.05 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.15 0.13 0.15 + 0.02 0.18 0.10 0.11 0.08 0.08 - 0.03 0.20 0.06 0.56 0.52 0.53 + 0.02 0.89 0.38 0.64 0.00 0.60 - 0.05 0.83 0.26 0.48 0.48 0.48 unch 0.00 0.66 0.25 0.00 0.00 0.00 - 0.00 0.52 0.00 0.10 0.10 0.10 + 0.01 0.22 0.09 0.15 0.13 0.14 + 0.01 0.30 0.12 0.04 0.04 0.04 unch 0.00 0.33 0.02 0.56 0.50 0.53 + 0.02 0.71 0.40 0.72 0.00 0.68 + 0.01 0.91 0.51 0.04 0.04 0.04 unch 0.00 0.06 0.03 0.06 0.00 0.06 + 0.01 0.08 0.04 1.88 1.52 1.86 + 0.29 1.88 0.88 0.05 0.01 0.03 + 0.01 0.09 0.01 0.03 0.02 0.02 + 0.00 0.06 0.01 0.04 0.00 0.04 - 0.01 0.07 0.02 0.26 0.25 0.25 - 0.02 0.34 0.04 0.33 0.32 0.32 - 0.01 0.65 0.05 0.05 0.05 0.05 unch 0.00 0.06 0.03 0.03 0.03 0.03 unch 0.00 0.05 0.02 2.03 0.00 2.00 + 0.02 2.38 1.03 2.84 2.43 2.47 - 0.27 3.00 1.30 0.03 0.00 0.03 + 0.01 0.10 0.02 0.08 0.08 0.08 - 0.01 0.10 0.03 2.69 2.28 2.42 + 0.18 6.06 1.40 3.45 2.95 3.10 + 0.21 7.57 1.51 0.24 0.21 0.21 - 0.01 0.42 0.17 0.18 0.16 0.17 + 0.00 0.30 0.13 0.03 0.03 0.03 unch 0.00 0.04 0.02 0.71 0.63 0.64 - 0.07 2.82 0.63 0.95 0.82 0.83 - 0.12 3.49 0.75 0.13 0.00 0.13 + 0.04 0.24 0.03 0.08 0.07 0.07 unch 0.00 1.30 0.06 1.51 1.24 1.41 + 0.12 3.00 1.24 1.93 1.62 1.87 + 0.21 3.60 1.62 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.08 0.06 0.08 + 0.01 0.16 0.06 0.12 0.11 0.11 unch 0.00 0.19 0.10 0.11 0.00 0.11 + 0.01 0.13 0.09 0.40 0.20 0.34 - 0.06 0.45 0.20 0.14 0.13 0.13 - 0.01 0.18 0.11 0.11 0.10 0.11 - 0.00 0.13 0.08 0.07 0.05 0.05 - 0.02 0.08 0.01 0.09 0.07 0.09 + 0.01 0.14 0.02 4.23 3.97 4.00 + 0.02 5.00 2.50 3.03 0.00 3.00 unch 0.00 3.30 1.89 0.40 0.29 0.29 - 0.09 0.64 0.20 1.34 1.25 1.34 + 0.04 1.90 1.14 1.73 1.63 1.65 - 0.03 2.53 1.44 0.08 0.05 0.07 - 0.00 0.10 0.05 0.10 0.08 0.09 unch 0.00 0.13 0.06 0.29 0.26 0.29 + 0.01 0.48 0.14 0.06 0.05 0.06 - 0.01 0.17 0.02 0.02 0.02 0.02 - 0.01 0.04 0.02 0.04 0.03 0.03 - 0.01 0.07 0.03 0.13 0.00 0.12 - 0.01 0.33 0.11 0.09 0.00 0.09 + 0.00 0.22 0.06 0.00 0.00 0.20 unch 0.00 0.33 0.14 0.28 0.26 0.26 - 0.01 0.45 0.18 2.00 0.00 2.00 unch 0.00 9.10 0.60 0.31 0.30 0.31 + 0.01 0.42 0.26 0.16 0.13 0.14 - 0.01 0.37 0.05 0.12 0.10 0.11 - 0.00 0.23 0.03 0.35 0.26 0.28 - 0.07 0.65 0.21 0.28 0.19 0.22 - 0.05 0.30 0.18 0.00 0.00 0.00 - 0.00 0.00 0.00

B2Gold* X 15913 B2Gold T 9644 B4MC Gold* O 0 Bacanora Mnls V 267 Balmoral Res T 484 O 327 Balmoral Res* Balto Res V 233 Bandera Gold V 24 Bankers Cobalt* O 63 Bankers Cobalt V 640 Bannerman Res* O 176 Banyan Gold V 219 Banyan Gold* O 300 Bard Ventures V 64 Barker Mnrls V 407 V 703 Barkerville Go Barkerville Go* O 128 Baroyeca Go&Si V 500 Barrick Gold T 11334 Barrick Gold* N 55429 Barsele Min* O 7 Barsele Min V 118 Batero Gold V 138 Bayhorse Silvr* O 50 V 485 Bayhorse Silvr Bayswater Uran* O 5 Bayswater Uran V 180 BC Moly V 15 BCM Res V 38 BE Res V 4 Bear Creek Mng V 165 Bearclaw Cap V 47 Bearing Lith V 192 Bearing Lith* O 186 Beaufield Res V 494 Beaufield Res* O 35 Beeston Ent* O 702 Bell Copper* O 139 Belmont Res V 1929 Belo Sun Mng T 835 Belvedere Res V 36 Benton Res V 709 Benz Mining V 37 Berkeley Egy* O 0 Berkwood Res * O 8 Berkwood Res V 973 Big Wind Cap 1914 Bird River Res 591 Bitterroot Res* O 97 Bitterroot Res V 79 Black Dragon V 72 Black Dragon* O 69 Black Hills* N 2299 Black Iron T 194 Black Isle Res V 10 Black Mam Mtls* O 0 Black Mam Mtls V 10 Black Sea Cop V 6 Black Sea Cop* O 7 Black Tusk Res 246 Blackheath Res V 193 Blackrock Gold* O 103 Blackrock Gold V 465 Blind Crk Res V 504 BLOX Inc* O 8 Blue Moon Zinc* O 293

3.03 2.85 2.90 - 0.10 3.30 2.15 3.91 3.70 3.72 - 0.14 4.23 2.96 0.00 0.00 8.90 unch 0.00 9.00 7.10 1.77 1.50 1.50 - 0.15 2.73 1.18 0.47 0.42 0.47 + 0.01 0.86 0.38 0.37 0.32 0.37 + 0.01 0.65 0.23 0.25 0.16 0.16 - 0.09 0.38 0.01 0.04 0.04 0.04 unch 0.00 0.10 0.03 0.31 0.26 0.26 - 0.05 0.68 0.26 0.40 0.34 0.34 - 0.06 0.85 0.11 0.04 0.03 0.04 + 0.00 0.06 0.02 0.10 0.09 0.09 - 0.01 0.15 0.06 0.07 0.05 0.05 unch 0.00 0.11 0.05 0.04 0.04 0.04 - 0.01 0.06 0.02 0.01 0.00 0.01 unch 0.00 0.03 0.01 0.67 0.61 0.61 - 0.06 1.39 0.43 0.52 0.47 0.48 - 0.04 1.03 0.32 0.02 0.02 0.02 - 0.01 0.04 0.01 15.49 14.90 15.14 + 0.26 27.03 14.26 12.00 11.48 11.82 + 0.28 20.37 11.07 0.58 0.58 0.58 unch 0.00 0.81 0.42 0.83 0.72 0.73 - 0.04 1.08 0.53 0.09 0.08 0.08 - 0.01 0.12 0.08 0.19 0.16 0.17 + 0.01 0.22 0.09 0.24 0.21 0.22 + 0.01 0.27 0.13 0.02 0.02 0.02 - 0.00 0.05 0.01 0.04 0.00 0.04 + 0.01 0.07 0.02 0.08 0.08 0.08 unch 0.00 0.08 0.04 0.13 0.11 0.12 - 0.02 0.25 0.08 0.06 0.00 0.06 - 0.01 0.15 0.04 2.27 2.03 2.21 + 0.16 2.74 1.64 0.06 0.05 0.05 - 0.01 0.06 0.03 0.64 0.59 0.61 - 0.01 1.21 0.59 0.50 0.46 0.48 + 0.00 0.89 0.46 0.12 0.10 0.11 unch 0.00 0.34 0.10 0.09 0.08 0.08 - 0.01 0.25 0.08 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.08 0.00 0.08 - 0.02 0.16 0.04 0.06 0.04 0.05 + 0.01 0.09 0.02 0.35 0.32 0.34 + 0.01 0.94 0.29 0.26 0.00 0.24 unch 0.00 0.32 0.04 0.07 0.06 0.06 + 0.01 0.12 0.05 0.14 0.00 0.14 + 0.01 0.47 0.12 0.00 0.00 0.67 unch 0.00 0.88 0.51 0.15 0.00 0.15 + 0.00 0.44 0.15 0.20 0.17 0.20 unch 0.00 0.59 0.17 0.75 0.49 0.59 - 0.11 1.05 0.08 0.27 0.20 0.23 - 0.02 0.63 0.05 0.07 0.05 0.05 - 0.02 0.24 0.05 0.09 0.07 0.09 + 0.01 0.28 0.04 0.10 0.10 0.10 + 0.01 0.13 0.03 0.10 0.08 0.08 - 0.02 0.11 0.02 52.59 51.05 52.04 + 0.71 72.02 50.49 0.11 0.10 0.11 + 0.02 0.17 0.08 0.03 0.03 0.03 - 0.01 0.06 0.03 0.08 0.08 0.08 - 0.01 0.18 0.09 0.12 0.12 0.12 unch 0.00 0.25 0.06 0.12 0.11 0.12 + 0.01 0.29 0.10 0.10 0.00 0.09 + 0.01 0.21 0.07 0.17 0.15 0.16 - 0.03 0.21 0.12 0.05 0.04 0.05 + 0.01 0.10 0.04 0.10 0.09 0.09 - 0.01 0.10 0.04 0.12 0.11 0.12 unch 0.00 0.13 0.05 0.32 0.26 0.28 - 0.04 0.38 0.16 0.30 0.20 0.30 unch 0.00 0.35 0.03 0.10 0.07 0.07 - 0.02 0.11 0.02

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Blue Moon Zinc V 1891 Blue Rvr Res V 1971 33 Blue Sky Uran* O Blue Sky Uran V 581 V 1 Bluenose Gold Bluestone Res* O 28 Bluestone Res V 324 Bold Vent V 588 Bonanza Gldfds* O 2822 BonTerra Res V 1380 BonTerra Res* O 87 Boreal Metals V 284 Borneo Res Inv* O 1292 BQ Metals V 1464 Bravada Gold V 408 Bravada Gold* O 79 Braveheart Res V 63 O 7 Braveheart Res* Bravo Multinat* O 363 Brazil Mnrls* O 15770 Brigadier Gold V 14 BrightRock Gld* O 268 Brilliant Sand* O 147 Brio Gold T 222 Britannia Mng* O 31 Brixton Mtls V 211 Brixton Mtls* O 59 Broadway Gold* O 80 Broadway Gold V 533 Brookmount Exp* O 927 Brunswick Res V 50 Bryn Res* O 3 Buccaneer Gold* O 34 V 85 Buccaneer Gold Buenaventura* N 5300 Buffalo Coal * O 6 Buffalo Coal V 16 Bullfrog Gold* O 597 Bullion Gld Re* O 2 Bullion Gld Res V 850 Bullman Mnls V 15 Bunker Hill 45 BWR Explor V 970

0.14 0.10 0.11 - 0.02 0.14 0.03 0.03 0.02 0.02 unch 0.00 0.05 0.01 0.20 0.16 0.19 + 0.01 0.33 0.08 0.26 0.21 0.21 - 0.05 0.43 0.10 0.10 0.00 0.10 unch 0.00 0.10 0.00 1.18 0.95 0.95 - 0.25 1.35 0.86 1.53 1.19 1.24 - 0.23 1.90 0.95 0.04 0.04 0.04 unch 0.00 0.06 0.03 0.00 0.00 0.00 - 0.00 0.01 0.00 0.50 0.44 0.48 + 0.03 0.72 0.29 0.39 0.34 0.37 + 0.03 0.57 0.21 0.34 0.30 0.30 - 0.04 0.40 0.22 0.00 0.00 0.00 - 0.00 0.00 0.00 0.19 0.15 0.17 + 0.02 0.32 0.15 0.11 0.10 0.10 unch 0.00 0.34 0.10 0.08 0.00 0.07 - 0.01 0.26 0.07 0.10 0.09 0.10 + 0.01 0.12 0.04 0.08 0.06 0.08 + 0.01 0.06 0.03 0.29 0.11 0.16 - 0.04 3.49 0.11 0.00 0.00 0.00 unch 0.00 0.04 0.00 0.15 0.13 0.13 - 0.04 0.30 0.08 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.06 0.06 0.06 - 0.00 0.12 0.01 2.68 2.58 2.60 - 0.04 3.40 1.54 0.00 0.00 0.00 - 0.00 0.01 0.00 0.35 0.30 0.31 - 0.01 0.54 0.23 0.27 0.23 0.27 + 0.00 0.41 0.18 0.20 0.15 0.19 + 0.02 1.29 0.14 0.25 0.20 0.24 + 0.02 1.70 0.19 0.01 0.01 0.01 + 0.00 0.13 0.00 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.00 0.00 0.00 + 0.00 0.01 0.00 0.09 0.09 0.09 unch 0.00 0.13 0.02 0.15 0.12 0.15 + 0.02 0.18 0.03 16.53 14.89 15.33 - 0.64 16.53 10.87 0.01 0.01 0.01 unch 0.00 0.02 0.00 0.02 0.00 0.01 - 0.01 0.02 0.01 0.13 0.07 0.10 - 0.03 0.18 0.05 0.23 0.23 0.23 unch 0.00 0.33 0.07 0.40 0.32 0.40 + 0.08 0.47 0.08 0.06 0.06 0.06 unch 0.00 0.12 0.06 2.30 1.90 2.30 + 0.35 3.15 1.35 0.07 0.07 0.07 unch 0.00 0.10 0.04

C Cabral Gold V 73 0.33 0.30 0.30 unch 0.00 0.50 0.28 Cache Expl V 2542 0.06 0.05 0.06 unch 0.00 0.31 0.05 unch 0.00 0.21 0.04 Cache Expl* O 51 0.04 0.04 0.04 Cadence Min* O 7 1.85 1.65 1.85 - 0.24 5.31 1.65 Cadillac Vent* O 1 0.02 0.02 0.02 unch 0.00 0.04 0.02 Cadillac Vent V 291 0.04 0.03 0.04 + 0.01 0.06 0.03 Caledonia Mng T 11 9.32 9.16 9.20 + 0.05 9.90 6.70 Caledonia Mng* X 22 7.20 6.99 7.09 + 0.05 7.96 0.06 Calibre Mng V 1085 0.09 0.07 0.08 - 0.01 0.26 0.08 California Gld V 137 0.27 0.23 0.26 - 0.02 0.64 0.23 California Go* O 32 0.24 0.19 0.19 - 0.02 0.49 0.19 V 523 0.31 0.29 0.30 - 0.01 0.48 0.28 Callinex Mines Callinex Mines* O 210 0.24 0.20 0.23 - 0.01 0.39 0.20 Cameco Corp* N 6685 9.52 8.87 9.17 + 0.20 11.91 7.68 Cameco Corp T 5463 12.32 11.51 11.75 + 0.20 15.89 9.90 Cameo Res* O 3 0.99 0.96 0.99 + 0.03 1.11 0.25 Cameo Res V 1263 1.33 1.20 1.28 + 0.03 1.60 0.30 Camino Mnls* O 5 0.29 0.29 0.29 - 0.00 1.62 0.21 0.26 Camino Mnls V 780 0.40 0.35 0.37 + 0.03 2.23 Camrova Res V 161 0.10 0.09 0.09 unch 0.00 0.21 0.06 Camrova Res* O 30 0.07 0.05 0.07 + 0.01 0.15 0.00 Canada Coal V 464 0.11 0.08 0.09 - 0.02 0.12 0.04 Canada Cobalt V 623 0.42 0.34 0.39 - 0.02 0.55 0.15 Canada Cobalt* O 83 0.32 0.27 0.28 - 0.04 0.44 0.11 Canada Cobalt V 477 0.42 0.39 0.40 unch 0.00 0.55 0.15 Canada One* O 1 0.11 0.11 0.11 unch 0.00 0.32 0.06 Canada One V 0 0.00 0.00 0.15 unch 0.00 0.52 0.08 V 219 0.45 0.41 0.41 + 0.03 0.50 0.26 CanAlaska Uran CanAlaska Uran* O 28 0.35 0.29 0.31 + 0.02 0.37 0.21 CanAm Coal* O 10 0.00 0.00 0.00 unch 0.00 0.01 0.00 Canamex Gold V 133 0.19 0.17 0.17 + 0.01 0.28 0.08 Canamex Gold* O 169 0.15 0.12 0.13 + 0.00 0.22 0.06 Canarc Res T 240 0.08 0.07 0.07 unch 0.00 0.12 0.07 Canarc Res* O 127 0.06 0.05 0.06 - 0.01 0.09 0.05 Canasil Res V 286 0.15 0.13 0.13 - 0.01 0.20 0.10 Candelaria Mg* O 10 0.55 0.06 0.06 unch 0.00 1.08 0.06 Candelaria Mg V 13 0.69 0.00 0.68 unch 0.00 1.04 0.46 Candente Coppr T 315 0.11 0.10 0.11 unch 0.00 0.21 0.06 Candente Gold* O 7 0.02 0.02 0.02 unch 0.00 0.04 0.00 Candente Gold V 165 0.03 0.03 0.03 + 0.01 0.06 0.03 Canex Energy* O 4 0.24 0.23 0.24 + 0.00 0.23 0.23 Canex Energy V 68 0.30 0.20 0.20 - 0.07 0.43 0.26 CANEX Metals V 32 0.08 0.00 0.08 unch 0.00 0.14 0.03 50 0.06 0.06 0.06 unch 0.00 0.10 0.02 CANEX Metals * O CaNickel Mng* O 2 0.13 0.13 0.13 unch 0.00 0.23 0.06 CaNickel Mng V 68 0.17 0.11 0.17 + 0.03 0.33 0.09 Canoe Mng Vent V 410 0.14 0.13 0.14 + 0.01 0.25 0.04 Canoe Mng Vent* O 50 0.10 0.10 0.10 unch 0.00 0.15 0.10 Canterra Mnls V 237 0.04 0.03 0.03 - 0.01 0.06 0.02 1 0.02 0.02 0.02 unch 0.00 0.03 0.01 Cantex Mn Dev* O Cantex Mn Dev V 35 0.04 0.03 0.03 - 0.01 0.06 0.02 Canuc Res V 291 0.26 0.21 0.22 - 0.03 0.60 0.21 Canuc Res* O 55 0.20 0.18 0.18 - 0.01 0.41 0.17 Canyon Copper* O 2 0.06 0.05 0.06 + 0.01 0.22 0.05 V 701 0.10 0.07 0.07 - 0.02 0.29 0.06 Canyon Copper Capstone Mng T 1283 1.40 1.32 1.36 + 0.02 1.62 0.77 Caracara Silvr V 154 0.02 0.00 0.02 unch 0.00 0.03 0.01 Caracara Silvr* O 23 0.01 0.00 0.01 - 0.00 0.01 0.00 Cardero Res V 162 0.17 0.15 0.15 unch 0.00 0.22 0.07 Cardero Res* O 76 0.14 0.11 0.11 - 0.02 0.17 0.05 Cardinal Res T 198 0.60 0.55 0.58 + 0.04 1.05 0.43 Cariboo Rose V 176 0.05 0.04 0.04 - 0.01 0.17 0.04 unch 0.00 0.10 0.03 Carlin Gold V 393 0.03 0.03 0.03 Carmax Mng V 155 0.09 0.08 0.08 unch 0.00 0.13 0.05 Carrara Explor 542 0.55 0.37 0.48 + 0.08 1.00 0.37 Cartier Iron 188 0.20 0.10 0.15 + 0.01 0.25 0.05 Cartier Res V 459 0.20 0.18 0.19 - 0.01 0.38 0.18 V 487 0.06 0.05 0.06 + 0.01 0.14 0.05 Carube Copper Carube Copper* O 7 0.03 0.03 0.03 - 0.02 0.11 0.03 Casa Minerals V 35 0.16 0.15 0.15 - 0.02 0.19 0.07 Cascadero Copp V 180 0.12 0.11 0.11 - 0.02 0.16 0.07 Cassius Vents V 50 0.04 0.04 0.04 unch 0.00 0.07 0.03 56 0.02 0.02 0.02 unch 0.00 0.04 0.02 Castle Peak Mg V Cautivo Mining 0 0.00 0.00 0.49 unch 0.00 0.85 0.20 Cava Res V 15 0.21 0.21 0.21 unch 0.00 0.35 0.15 Cava Res* O 0 0.22 0.22 0.22 unch 0.00 0.29 0.15 0.02 Cavan Vent V 1535 0.20 0.15 0.16 + 0.02 0.40 Cda Carbon* O 20 0.05 0.04 0.04 - 0.01 0.21 0.04 Cda Carbon V 583 0.06 0.05 0.06 unch 0.00 0.27 0.04 Cda Rare Earth V 221 0.05 0.04 0.05 + 0.01 0.10 0.03 Cda Rare Earth* O 187 0.04 0.03 0.03 - 0.00 0.08 0.02 0.14 0.13 0.13 unch 0.00 0.16 0.09 Cda Strtgc Met V 269 Cda Strtgc Met * O 15 0.10 0.10 0.10 + 0.00 0.12 0.06 Cda Zinc Mtls V 727 0.37 0.33 0.34 - 0.02 0.39 0.22 Cdn Intl Mnrls V 36 0.21 0.21 0.21 unch 0.00 0.60 0.11 Cdn Metals 216 0.13 0.00 0.13 + 0.03 0.20 0.05 Cdn Orebodies V 180 0.34 0.30 0.33 + 0.01 0.53 0.17 Cdn Orebodies* O 16 0.27 0.26 0.26 - 0.00 0.39 0.14 Cdn Platinum V 5315 0.02 0.02 0.02 unch 0.00 0.05 0.01 Cdn Silvr Hunt V 186 0.08 0.06 0.08 + 0.01 0.12 0.04 Cdn Zinc T 941 0.14 0.12 0.13 - 0.01 0.24 0.12 Cdn Zinc* O 297 0.11 0.09 0.09 - 0.02 0.19 0.09 Centamin T 13 2.75 2.64 2.73 unch 0.00 3.23 2.19 Centaurus Diam* O 126 0.12 0.06 0.12 + 0.02 0.20 0.02 Centenera Mng V 314 0.20 0.17 0.18 - 0.01 0.26 0.15 Centenera Mng* O 56 0.14 0.13 0.13 - 0.01 0.21 0.10 Centerra Gold T 2362 6.95 6.46 6.52 - 0.31 9.35 5.90 Central Iron V 39 0.03 0.02 0.03 + 0.01 0.07 0.01 Century Global T 55 0.24 0.00 0.24 - 0.04 0.33 0.13 Century Global* O 5 0.22 0.20 0.22 unch 0.00 0.24 0.13 Cerro Mng V 5 0.20 0.19 0.20 + 0.02 0.22 0.04 Ceylon Graph V 385 0.19 0.16 0.19 + 0.01 0.45 0.15 Chakana Copper V 1725 1.05 0.77 1.00 + 0.08 1.27 0.62 O 81 0.78 0.65 0.78 + 0.13 0.78 0.65 Chakana Copper* Chalice Gold M* O 53 0.15 0.14 0.15 + 0.01 0.25 0.10 Chalice Gold M T 1181 0.19 0.17 0.17 unch 0.00 0.33 0.15 Champion Bear V 190 0.20 0.10 0.17 - 0.04 0.26 0.12 Champion Bear* O 56 0.16 0.16 0.16 - 0.00 0.18 0.10 Champion Iron T 2247 1.24 1.06 1.16 - 0.05 1.59 0.85 Champion Iron* O 194 0.98 0.91 0.92 - 0.03 1.22 0.61 Chatham Rock* O 1 0.21 0.21 0.21 unch 0.00 0.42 0.20 Chatham Rock V 3 0.30 0.00 0.30 + 0.06 0.70 0.25 Chesapeake Gld* O 65 2.65 2.35 2.35 - 0.05 3.23 2.28 Chesapeake Gld V 90 3.41 3.00 3.06 - 0.03 4.24 2.91 Chevron Corp* N 37252 117.39 111.02 117.22 + 5.58 133.88 102.55 0.06 0.00 0.06 + 0.01 0.12 0.05 Chiboug Ind Mn V 519

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

O 8 Chilean Metals* V 441 Chilean Metals Chimata Gold V 514 China Gold Int T 1388 8 China Mnls Mng V 3 China Mnls Mng* O Cicada Vents V 77 4 CIM Intl Grp Cipher Res V 67 Claim Post Res V 1100 V 114 Clarmin Explor Clean Comm* O 13 Clean Comm V 3545 V 49 Cleghorn Mnls O 53 Cleghorn Mnls* 65223 N Cleveland-Clif* Clifton Mng* O 29 Cloud Peak En* N 3296 V 5 Clydesdale Res CMC Metals* O 8 CMC Metals V 212 40 CMX Gold & Sil* O 50 CMX Gold & Sil CNRP Mng* O 125 Cobalt 27 Cap V 504 Cobalt Pwr Grp* O 260 Cobalt Pwr Grp V 6103 Coeur Mng* N 16084 Colibri Res V 320 V 257 Colombia Crest O 201 Colombia Crest* Colonial Coal V 787 O 330 Colorado Gold* O 587 Colorado Res* Colorado Res V 1096 T 412 Columbus Gold O 409 Columbus Gold* Comet Inds V 2 1 Comet Inds * O V 291 Commander Res O 264 Commerce Res* V 1280 Commerce Res V 50 Compass Gold X 1928 Comstock Mng* V 642 Comstock Mtls 41 Comstock Mtls * O Condor Gold* O 11 Condor Gold T 4 Condor Res V 87 O 40 Confedertn Ml* V 130 Confedertn Mls V 99 Conquest Res V 30 Cons Woodjam 65 CONSOL Coal Rs* N N 24263 CONSOL Energy* N 2000 CONSOL Energy* V 107 Constantine Mt O 42 Constantine Mt* Contact Gold V 110 O 14 Contact Mnrls* Contintl Gold T 746 O 51 Contintl Gold* Contintl Prec* O 1 Contintl Prec V 3 Copper Ck Gold V 180 Copper Fox Mtl V 604 98 Copper Fox Mtl* O Copper Lake Rs V 413 Copper Mtn Mng T 1642 Copper Mtn Mng* O 312 0 Copper North M* O 53 Copper North M V Copper One V 121 5 Copper One * O 256 Copper Reef Mg Copperbank Res 643 O 201 Copperbank Res* 8 Coral Gold * O Coral Gold V 63 O 486 Cordoba Mnls* V 1011 Cordoba Mnls Core Gold V 1224 Core Gold* O 690 Corex Gold* O 150 Corex Gold V 92 V 227 Cornerstone Ca O 300 Cornerstone Ca* O 51 Cornerstone Mt* V 771 Cornerstone Mt Coro Mining T 317 Coronet Mtls* O 5 Coronet Mtls 41 21 Corsa Coal * O Corsa Coal V 38 Corvus Gold T 130 Corvus Gold* O 90 CR Capital V 13 0 Crazy Horse Res* O Critical Elem V 561 Critical Elem* O 15 Crown Mining V 987 O 13 Crown Mining* Cruz Cobalt* O 1061 Cruz Cobalt V 2756 O 101 Crystal Explor* V 601 Crystal Explor Crystal Lake V 642 Crystal Lake* O 203 Crystal Peak V 30 Crystal Peak* O 18 5 Currie Rose Rs V 13 CWN M’g Acq V O 594 Cyclone Uran* Cypress Dev* O 222 Cypress Dev V 1441

0.04 0.05 0.00 0.05 - 0.00 0.14 0.06 unch 0.00 0.18 0.07 0.06 0.06 0.05 unch 0.00 0.19 0.15 0.13 0.14 3.19 2.97 3.16 + 0.16 3.27 1.82 0.34 0.00 0.34 unch 0.00 0.50 0.16 0.27 0.00 0.20 - 0.07 0.32 0.14 0.01 unch 0.00 0.03 0.02 0.02 0.02 0.19 0.19 0.19 unch 0.00 0.79 0.08 0.08 0.09 0.08 0.09 + 0.01 0.33 0.12 0.10 0.12 unch 0.00 0.13 0.03 0.22 0.25 0.22 0.25 + 0.02 0.50 0.03 0.08 0.05 0.05 - 0.03 0.16 0.05 0.10 0.08 0.08 - 0.01 0.21 0.05 0.10 0.08 0.10 + 0.02 0.11 0.04 unch 0.00 0.08 0.07 0.07 0.07 5.56 8.16 7.27 7.43 - 0.52 9.92 0.05 0.08 0.07 0.07 - 0.01 0.14 3.56 3.25 3.26 - 0.04 5.70 2.78 0.04 unch 0.00 0.15 0.12 0.12 0.12 0.03 unch 0.00 0.08 0.03 0.03 0.03 0.04 0.05 0.05 0.05 + 0.01 0.12 0.06 0.06 0.06 unch 0.00 0.09 0.05 0.10 0.10 0.10 unch 0.00 0.10 0.04 0.02 0.30 0.22 0.30 + 0.08 1.98 12.50 12.01 12.20 + 0.04 14.00 7.42 0.18 0.15 0.15 - 0.01 0.29 0.06 0.23 0.18 0.19 - 0.03 0.35 0.08 8.29 7.62 8.18 + 0.33 10.24 6.71 0.08 0.09 0.09 0.09 - 0.01 0.28 0.01 0.02 0.01 0.01 - 0.01 0.03 0.00 0.01 0.01 0.01 - 0.00 0.02 0.08 0.18 0.14 0.16 + 0.02 0.22 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.11 0.13 0.11 0.13 + 0.02 0.37 0.15 0.19 0.15 0.16 + 0.01 0.46 0.32 0.44 0.34 0.35 - 0.05 0.99 0.25 0.34 0.26 0.27 - 0.06 0.75 2.50 unch 0.00 3.20 2.95 2.95 2.95 2.33 2.33 2.33 unch 0.00 2.33 2.33 0.03 unch 0.00 0.06 0.04 0.04 0.04 0.05 unch 0.00 0.08 0.06 0.06 0.06 0.07 0.08 0.08 0.08 - 0.01 0.10 0.50 unch 0.00 0.80 0.50 0.50 0.50 0.21 0.32 0.27 0.28 - 0.03 1.28 0.06 0.06 0.06 0.06 - 0.01 0.19 0.05 0.00 0.05 + 0.00 0.14 0.04 0.60 unch 0.00 0.90 0.90 0.73 0.75 0.47 1.00 0.00 0.95 + 0.04 1.75 0.08 0.11 0.10 0.10 - 0.01 0.19 0.31 0.35 0.31 0.31 - 0.03 0.60 0.40 0.49 0.42 0.48 + 0.08 0.81 0.01 0.06 0.06 0.06 - 0.01 0.10 0.04 unch 0.00 0.09 0.06 0.06 0.06 14.90 13.93 14.50 + 0.30 16.65 12.56 11.69 18.09 16.58 17.55 + 0.83 17.92 19.51 33.41 28.60 28.69 - 3.00 41.89 0.12 unch 0.00 0.35 0.20 0.19 0.20 0.09 0.16 0.14 0.16 + 0.00 0.28 0.39 0.43 0.39 0.40 - 0.04 1.10 0.05 0.19 0.15 0.15 - 0.04 0.28 2.62 3.86 3.55 3.60 - 0.26 4.66 1.90 2.97 2.75 2.80 - 0.20 3.46 0.20 unch 0.00 0.30 0.25 0.25 0.25 0.26 0.33 0.32 0.32 - 0.01 0.38 0.38 0.00 0.38 + 0.07 0.36 0.07 0.12 0.11 0.11 - 0.01 0.18 0.11 0.10 0.09 0.09 - 0.01 0.15 0.08 0.05 0.05 0.05 + 0.01 0.10 0.03 1.24 1.12 1.20 + 0.06 1.85 0.72 0.95 0.87 0.92 + 0.03 1.47 0.54 0.00 0.00 0.05 unch 0.00 0.08 0.00 0.06 0.00 0.06 - 0.01 0.11 0.05 0.03 0.17 0.15 0.17 + 0.02 0.22 0.13 0.13 0.13 unch 0.00 0.18 0.03 0.03 0.02 0.03 unch 0.00 0.04 0.01 0.06 unch 0.00 0.18 0.09 0.08 0.09 0.04 0.08 0.06 0.07 + 0.01 0.14 0.31 0.00 0.29 + 0.01 0.35 0.21 0.29 0.39 0.36 0.38 + 0.03 0.43 0.15 0.18 0.14 0.15 - 0.03 1.09 0.20 0.24 0.19 0.20 - 0.03 1.43 0.22 0.35 0.32 0.33 - 0.02 0.45 0.18 0.28 0.25 0.26 - 0.01 0.34 0.07 0.12 0.12 0.12 + 0.00 0.16 0.10 0.15 0.00 0.15 + 0.01 0.20 0.15 0.19 0.17 0.19 + 0.02 0.55 0.13 0.16 0.13 0.16 + 0.02 0.44 0.13 0.30 0.26 0.27 + 0.02 0.33 0.06 0.43 0.31 0.34 - 0.07 0.43 0.09 0.13 0.11 0.12 + 0.01 0.16 0.07 0.20 0.12 0.20 + 0.08 0.24 0.17 0.17 0.00 0.17 - 0.07 0.25 1.47 1.00 1.44 - 0.01 2.25 1.00 1.34 1.90 1.75 1.83 + 0.03 2.40 0.69 1.62 1.50 1.55 + 0.01 1.99 0.53 1.25 1.16 1.19 - 0.02 1.60 0.07 unch 0.00 0.13 0.10 0.10 0.10 0.00 0.00 0.15 unch 0.00 0.18 0.12 0.67 1.25 1.13 1.19 + 0.08 1.86 0.49 0.94 0.90 0.93 + 0.08 1.48 0.07 0.27 0.19 0.20 - 0.05 0.28 0.05 0.20 0.14 0.14 - 0.06 0.21 0.12 0.28 0.25 0.27 + 0.00 0.35 0.16 0.36 0.33 0.35 + 0.01 0.41 0.06 0.07 0.06 0.07 + 0.01 0.12 0.05 0.09 0.08 0.08 - 0.01 0.14 0.16 1.02 0.81 0.85 - 0.15 1.05 0.13 0.78 0.66 0.68 - 0.10 0.84 0.34 0.01 0.58 0.36 - 0.39 0.00 0.27 0.31 0.00 0.28 - 0.00 0.46 0.06 0.00 0.06 unch 0.00 0.11 0.04 0.20 0.20 0.20 unch 0.00 0.25 0.13 0.00 0.01 0.01 0.01 + 0.00 0.02 0.06 0.17 0.13 0.15 + 0.03 0.27 0.08 0.23 0.18 0.22 + 0.03 0.35

Dajin Res V 242 Dajin Res* O 683 81 Dakota Ter Res* O Daleco Res* O 25 O 55 Dalradian Res* T 401 Dalradian Res Damara Gold V 272 O 0 Damara Gold* Danakali* O 22 Darien Res V 785 Darnley Bay V 318 Debut Dmds 165 Decade Res V 543 Decade Res* O 346 Declan Res 22 O 14 Deep-South Res* V 567 Deep-South Res Defiance Silvr V 520 O 262 Defiance Silvr* Delrand Res V 127 T 1295 Denison Mines X 1806 Denison Mines* Desert Gold V 351 Desert Lion V 1099 Detour Gold T 3511 O 1149 Diamante Min* Diamcor Mng V 110 O 62 Diamcor Mng* O 2600 Diamond Disc* V 100 Diamond Fields Dios Expl V 285 O 39 Discovery Gold* V 55 Discovery Harb V 56 Discovery Met O 9372 Discovery Mnls* V 380 Discovery-Corp Ditem Explor* O 100 DNI Metals 925 DNI Metals* O 197 54208 O Dolat Ventures* 76 Dolly Vard Sil* O Dolly Vard Sil V 112 V 588 Doubleview Cap DRDGOLD* N 332

0.08 0.15 0.14 0.14 - 0.01 0.22 0.06 0.12 0.11 0.11 - 0.01 0.17 0.08 0.07 0.08 + 0.01 0.10 0.03 0.00 unch 0.00 0.01 0.00 0.00 0.00 0.72 0.84 0.79 0.79 - 0.04 1.37 0.91 1.10 1.01 1.02 - 0.06 1.78 0.04 0.07 0.06 0.07 + 0.01 0.22 0.02 unch 0.00 0.14 0.00 0.00 0.06 0.49 0.58 0.56 0.58 + 0.01 0.65 0.26 0.74 0.60 0.70 + 0.10 0.74 0.17 unch 0.00 0.49 0.21 0.21 0.21 0.01 unch 0.00 0.02 0.02 0.01 0.01 0.05 0.06 0.06 0.06 + 0.01 0.20 0.04 0.05 0.05 0.05 - 0.00 0.16 0.06 0.30 0.00 0.30 + 0.05 0.34 0.07 0.28 0.26 0.26 - 0.02 0.30 0.08 0.41 0.35 0.38 - 0.03 0.45 0.22 0.37 0.28 0.28 - 0.07 0.44 0.17 0.27 0.22 0.24 - 0.03 0.35 1.00 1.24 0.00 1.14 - 0.06 2.44 0.50 0.62 0.59 0.60 - 0.02 0.92 0.38 0.49 0.45 0.47 - 0.01 0.69 0.14 0.28 0.24 0.28 + 0.04 0.33 1.50 1.90 1.50 1.60 - 0.25 2.35 11.48 12.70 11.54 12.33 + 0.29 18.88 0.02 0.06 0.05 0.06 + 0.01 0.17 0.37 0.41 0.39 0.40 + 0.01 1.06 0.29 0.32 0.31 0.31 - 0.02 0.78 0.00 0.00 0.00 0.00 + 0.00 0.00 0.09 0.14 0.00 0.14 + 0.01 0.23 0.06 0.08 0.00 0.08 + 0.01 0.12 0.00 0.00 0.00 0.00 - 0.00 0.00 0.05 unch 0.00 0.11 0.05 0.05 0.05 0.33 0.37 0.33 0.33 - 0.02 0.92 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.01 0.03 0.02 0.02 - 0.01 0.04 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.05 0.09 0.07 0.09 + 0.01 0.16 0.00 0.08 0.06 0.08 + 0.01 0.13 0.00 0.02 0.01 0.02 - 0.00 0.16 0.62 0.57 0.59 - 0.02 0.84 0.35 0.79 0.75 0.78 + 0.05 1.04 0.45 0.04 0.09 0.08 0.09 + 0.01 0.11 2.79 3.12 2.87 3.01 - 0.03 5.69

D-F

2018-03-13 5:33 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / MARCH 19â&#x20AC;&#x201C;APRIL 1, 2018

Week

12-month

Exc Volume High Low Last Change High Low

Duncan Park H V 160 Dundee Prec Mt T 770 O 159 Dunnedin Vent* Duran Vent * O 101 Duran Vent V 284 Durango Res V 900 DV Resources V 1036 Dynacor Gld Mn T 134 15 Dynacor Gld Mn* O Dynamic Gold* O 1 DynaResource* O 7 Dynasty Gold V 60 O 1 Dynasty Gold* E3 Metals V 62 E3 Metals* O 1 Eagle Graphite V 1342 O 125 Eagle Graphite* Eagle Plains V 498 0 East Africa * O East Africa V 182 East Asia Mnls V 517 EastCoal Inc V 15 O 1 Eastern Platin* Eastern Platin T 75 Eastern Zinc V 95 Eastfield Res V 213 Eastmain Res* O 221 Eastmain Res T 1546 Eco Oro Mnls 64 42 Eco Oro Mnls* O eCobalt Solns T 2455 eCobalt Solns* O 831 Edgewater Expl V 6 El Capitan Prc* O 1107 El Nino Vent* O 220 El Nino Vent V 55 Elcora Res V 118 Elcora Res* O 30 Eldorado Gold* N 39733 Eldorado Gold T 7617 O 0 Electra Stone* Electra Stone V 91 Eloro Mnrls* O 1 Eloro Mnrls V 30 Ely Gold Royal V 171 Ely Gold Royal* O 232 Elysee Dev * O 12 Elysee Dev V 73 Emerita Res V 611 Emgold Mng* O 3 Emgold Mng V 99 Empire Rock* O 1 Empire Rock V 44 EMX Royalty* X 140 EMX Royalty V 105 Encanto Potash* O 470 Encanto Potash V 2300 Endeavour Mng T 848 Endeavour Mng* O 13 Endeavr Silver* N 5510 Endeavr Silver T 1407 Endurance Gold* O 588 V 211 Endurance Gold Energy Fuels* X 506 Energy Fuels T 80 O 413 Enforcer Gold* Enforcer Gold V 827 Engold Mines* O 45 Engold Mines V 37 Ensurge* O 150 Entree Gold* X 158 Entree Gold T 114 Equitorial Ex V 1192 Equitorial Ex* O 150 Erdene Res Dev T 6411 Erdene Res Dev* O 319 O 41 Erin Ventures* Erin Ventures V 199 Ero Copper T 46 Ero Copper* O 1 Eros Res Corp* O 34 Eros Res Corp V 193 Eros Res Corp V 193 Eskay Mng V 101 Essex Minerals V 158 Ethos Gold* O 33 Ethos Gold V 173 Eureka Res V 225 Euro Sun Mg* O 117 Euro Sun Mg T 493 EurOmax Res* O 2 EurOmax Res T 36 European Elect* O 23 European Elect V 41 European Metal* O 377 V 0 Eurotin Everton Res V 890 Everton Res* O 264 EVI Global Grp 85 Evolving Gold 27 Evolving Gold* O 57 Evrim Res V 603 Excellon Res* O 159 Excellon Res T 363 Excelsior Mng* O 102 Excelsior Mng T 226 ExGen Res Inc V 717 Explor Res* O 134 Explor Res V 482 O 130 Explorex Res* Explorex Res 119 Fairmile Gold* O 1 Fairmont Res* O 2680 Fairmont Res V 375 Falco Res V 863 Falco Res * O 29 Falcon Gold V 203 Fancamp Expl V 514 Far Res 4202 Far Res* O 150 Fengro Industr* O 118 V 110 Fengro Industr Filo Mg Corp V 6 Finlay Minrls V 349 Fiore Gold* O 547 Fiore Gold V 447 Fire River Gol* O 0 Firebird Res V 241 Firesteel Res V 151 V 37 Firestone Vent Fireweed Zinc V 199 Fireweed Zinc* O 44 O 170 Firma Holdings* First Bauxite V 4369 First Bauxite* O 3 First Cobalt * O 431 First Cobalt V 966 First Colombia* O 8190 First Energy* O 0 First Energy V 28 First Legacy V 100 First Liberty* O 2030 First Majestic T 3162 First Majestic* N 14352 First Mexican V 113 First Mg Fin * O 2252 First Mg Fin T 2744 First Point* O 15 First Quantum T 14205 Fission 3.0 V 590 Fission Uran T 954 Fission Uran* O 491 Five Star Diam V 345 Fjordland Exp* O 37 Fjordland Exp V 244 O 384 Focus Graphite* Focus Graphite V 562 Focus Vent V 1748 Foran Mng V 226 Forsys Metals T 90 Fort St James V 18 Fortescue Met* O 8 Fortuna Silvr* N 2985 Fortuna Silvr T 1235 Fortune Bay* O 12 Fortune Bay V 3 Fortune Mnrls* O 570 Fortune Mnrls T 1025 V 174 Forum Energy

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0.01 0.09 0.01 0.10 0.09 0.10 + 0.01 0.16 0.04 0.16 0.13 0.15 + 0.01 0.19 0.03 1.61 1.42 1.50 - 0.11 1.95 0.67 1.22 1.09 1.17 - 0.04 1.58 0.54 0.10 0.09 0.09 + 0.00 0.13 0.04 0.05 0.04 0.05 + 0.01 0.05 0.03 0.04 0.04 0.04 unch 0.00 0.04 0.02 0.85 0.80 0.84 - 0.04 1.30 0.31 1.10 1.03 1.09 - 0.02 1.65 0.42 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.17 unch 0.00 0.24 0.10 0.25 0.00 0.23 - 0.03 0.35 0.15 0.18 0.18 0.18 unch 0.00 0.21 0.18 0.00 0.00 0.00 - 0.00 0.00 0.00 7.80 7.14 7.46 + 0.31 12.72 6.24 6.05 5.50 5.83 + 0.29 9.59 4.93 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.36 0.32 0.36 + 0.00 0.75 0.32 0.47 0.42 0.46 + 0.01 0.99 0.42 0.10 0.10 0.10 - 0.01 0.12 0.06 21.65 19.23 20.29 - 0.08 21.71 9.69 0.05 0.05 0.05 unch 0.00 0.13 0.04 0.71 0.67 0.67 - 0.03 0.89 0.53 0.55 0.52 0.53 - 0.02 0.72 0.40 0.20 0.18 0.20 + 0.01 0.55 0.16 0.10 0.10 0.10 - 0.02 0.47 0.07 0.14 0.13 0.14 - 0.01 0.59 0.10 0.05 0.04 0.05 + 0.00 0.10 0.04 0.07 0.06 0.06 unch 0.00 0.13 0.06 0.02 0.02 0.02 unch 0.00 0.07 0.02 0.59 0.53 0.53 - 0.03 0.62 0.24 0.12 0.10 0.12 + 0.01 0.21 0.10 0.59 0.00 0.55 + 0.02 0.59 0.10 3.75 0.00 3.72 - 0.04 5.27 3.33 4.81 4.62 4.71 + 0.06 5.77 4.03 6.20 5.96 6.03 + 0.04 7.67 5.13 0.32 0.00 0.31 - 0.01 0.50 0.28 0.41 0.00 0.41 - 0.05 0.67 0.35 0.22 0.20 0.21 - 0.00 0.33 0.00 0.28 0.27 0.28 + 0.01 0.38 0.17 0.06 0.05 0.06 + 0.01 0.11 0.04

20-23_MAR19_StockTables.indd 21

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Forum Energy* O 28 Four Nines 314 Fox River Res 105 Fox River Res* O 52 FPX Nickel V 205 Franco-Nevada* N 4140 Franco-Nevada T 2488 Franklin Mng* O 6 Freedom Egy V 72 Freegold Vent T 62 Freeport McMoR* N 75885 Freeport Res V 5 Fremont Gold V 284 O 62 Fremont Gold* Fresnillo plc* O 9 Frontier Lith V 456 V 606 Frontline Gold Full Metal Mnl* O 3 Full Metal Mnl V 4 Fura Gems* O 42 Fura Gems V 343

0.05 0.04 0.04 - 0.01 0.08 0.03 0.11 0.09 0.11 + 0.02 0.16 0.08 0.07 0.06 0.06 unch 0.00 0.15 0.06 0.04 0.04 0.04 unch 0.00 0.09 0.02 0.14 0.12 0.13 - 0.01 0.15 0.07 72.04 66.48 68.17 - 2.39 86.06 60.57 92.85 85.92 87.25 - 3.67 110.18 81.71 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.08 0.00 0.08 + 0.01 0.14 0.05 0.09 0.09 0.09 - 0.01 0.19 0.08 18.89 17.71 18.43 + 0.11 20.25 11.05 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.18 0.17 0.17 - 0.02 0.21 0.11 0.14 0.13 0.13 + 0.01 0.17 0.10 17.48 16.46 16.91 + 0.08 22.27 16.10 0.85 0.59 0.63 - 0.18 0.85 0.31 0.02 0.00 0.02 unch 0.00 0.03 0.02 0.09 0.00 0.09 + 0.00 0.12 0.05 0.12 0.00 0.12 unch 0.00 0.15 0.08 0.54 0.45 0.50 - 0.02 1.23 0.45 0.68 0.59 0.65 + 0.02 1.13 0.19

Gabriel Res* O 21 Gabriel Res V 36 Gainey Capital V 104 Galane Gold V 1708 O 62 Galantas Gold* Galantas Gold V 68 Galore Res V 553 Galway Gold V 2397 Galway Mtls* O 219 Galway Mtls V 137 Garibaldi Res * O 196 Garibaldi Res V 1196 General Moly* X 969 General Moly T 15 Generic Gold 86 Genesis Mtls* O 206 Genesis Mtls V 540 V 986 Gensource Pot O 14 Geologix Expl* Geologix Expl V 449 O 45 Geomega Res* Geomega Res V 304 49 Gespeg Cop Res V Getty Copper V 53 GFG Resources* O 43 GGL Res* O 0 GGL Res V 123 GGX Gold V 237 GGX Gold* O 23 Giga Metals V 375 Giga Metals* O 37 Gitennes Expl V 274 Giyani Gold V 689 Giyani Gold* O 81 Glacier Lake V 567 O 171 Gldn Predator* Gldn Predator V 589 Glen Eagle Res V 242 Glencore Plc* O 6183 V 306 Global Atomic Global Cobalt* O 583 Global Energy V 350 O 33 Global Energy* Global Gold* O 0 Global Hunter* O 0 Global Li-Ion 241 Global Li-Ion* O 65 Globex Mng* O 128 Globex Mng T 209 GMV Minerals* O 14 V 83 GMV Minerals GNCC Capital* O 62179 GobiMin V 1 GoGold Res T 736 Gold Dynamics* O 1 Gold Fields* O 2 Gold Fields* N 15293 3 Gold Finder Ex* O Gold Finder Ex V 344 Gold Lakes* O 21 O 34 Gold Reserve* Gold Reserve V 27 X 1254 Gold Resource* Gold Std Vents* X 2244 Gold Std Vents T 869 Goldbank Mng* O 0 Goldbank Mng V 40 Goldbelt Emp V 332 Goldcliff Res V 105 Goldcliff Res* O 14 Goldcorp T 10786 Goldcorp* N 32702 Golden Arrow V 182 Golden Arrow* O 384 O 241 Golden Band* Golden Cariboo V 18 Golden Dawn Ml V 1749 Golden Dawn Ml* O 37 Golden Global* O 127 Golden Goliath V 75 Golden Goliath* O 123 Golden Harp* O 0 Golden Harp V 2 Golden Hope V 131 Golden Hope* O 64 Golden Mnls* X 597 Golden Mnls T 21 Golden Peak Mn V 368 Golden Queen* O 2151 Golden Queen T 2607 Golden Reign V 346 Golden Ridge V 1553 Golden Secret V 747 Golden Share V 38 Golden Star T 516 Golden Star* O 1 Golden Star* X 5916 Golden Sun* O 190 Golden Tag V 292 Golden Valley* O 49 Golden Valley V 168 Goldex Res* O 91 Goldex Res V 344 Goldgroup Mng* O 717 Goldgroup Mng T 595 GoldMining V 574 GoldON Res V 63 GoldON Res* O 10 GoldQuest Mng V 1082 Goldrea Res 2556 Goldrea Res* O 141 Goldrich Mng* O 904 Goldsource Min* O 130 Goldsource Min V 669 Goldstar Mnls V 1885 Goldstream Mnl V 180 Goldstrike Res V 291 Goliath Res V 146 Gorilla Min 90 Gossan Res V 68 GoviEx Uranium* O 385 GoviEx Uranium V 797 Gowest Gold* O 57 Gowest Gold V 1031 GPM Metals V 644 Gran Colombia* O 6 Gran Colombia T 147 Granada Gold V 332 Granada Gold* O 9 Grande Portage V 69 Grande Portage* O 31 Granite Ck Gld V 13 Graphite Corp* O 6504 Graphite Egy* O 5465 Graphite Egy 6262 Graphite One V 3545 Graphite One* O 1170 Gratomic* O 59 Gratomic V 9886 Gray Rock Res* O 0 Gray Rock Res V 15 Great Atlantic V 183 Great Bear Res V 186 Great Bear Res* O 132 Great Lakes Gr* O 47

0.30 0.27 0.28 - 0.02 0.36 0.20 0.35 0.00 0.34 - 0.02 0.48 0.26 0.10 0.09 0.09 - 0.01 0.20 0.09 0.07 0.06 0.06 + 0.01 0.12 0.05 0.08 0.07 0.07 - 0.01 0.11 0.05 0.11 0.09 0.11 + 0.02 0.15 0.07 0.03 0.03 0.03 - 0.01 0.07 0.01 0.08 0.08 0.08 + 0.01 0.16 0.07 0.20 0.18 0.19 - 0.01 0.36 0.18 0.26 0.24 0.24 - 0.02 0.45 0.23 1.81 1.61 1.68 - 0.13 4.12 0.10 2.40 2.06 2.11 - 0.19 5.27 0.12 0.45 0.42 0.44 + 0.01 0.54 0.28 0.58 0.56 0.56 + 0.02 0.72 0.35 0.32 0.28 0.29 + 0.01 0.32 0.28 0.09 0.07 0.09 + 0.02 0.18 0.06 0.12 0.09 0.10 + 0.01 0.22 0.09 0.11 0.10 0.11 unch 0.00 0.25 0.06 0.03 0.03 0.03 - 0.00 0.07 0.03 0.04 0.00 0.04 - 0.01 0.09 0.04 0.06 0.06 0.06 unch 0.00 0.08 0.04 0.09 0.08 0.08 - 0.01 0.13 0.06 0.04 0.04 0.04 - 0.01 0.08 0.03 0.04 0.03 0.03 - 0.01 0.04 0.02 0.32 0.28 0.28 - 0.03 0.83 0.31 0.00 0.00 0.13 unch 0.00 0.13 0.10 0.18 0.14 0.15 + 0.01 0.25 0.10 0.11 0.10 0.10 - 0.02 0.24 0.08 0.10 0.10 0.10 unch 0.00 0.17 0.09 0.34 0.26 0.31 - 0.04 0.92 0.05 0.26 0.21 0.23 - 0.03 0.72 0.11 0.08 0.07 0.07 - 0.01 0.15 0.04 0.28 0.20 0.25 - 0.03 0.50 0.20 0.22 0.18 0.20 - 0.03 0.41 0.17 0.08 0.07 0.07 - 0.01 0.19 0.05 0.54 0.49 0.50 - 0.02 1.31 0.48 0.70 0.64 0.64 - 0.04 1.77 0.62 0.19 0.17 0.18 unch 0.00 0.31 0.14 10.33 9.90 10.20 + 0.03 11.68 6.90 0.22 0.21 0.21 + 0.01 0.59 0.14 0.03 0.00 0.01 - 0.02 0.43 0.00 0.18 0.16 0.16 - 0.02 0.27 0.10 0.15 0.13 0.13 - 0.02 0.22 0.08 0.00 0.00 3.00 unch 0.00 12.55 1.78 0.00 0.00 0.01 unch 0.00 0.01 0.01 0.50 0.45 0.48 unch 0.00 0.97 0.30 0.37 0.35 0.35 - 0.01 0.80 0.23 0.35 0.00 0.33 - 0.01 0.48 0.31 0.45 0.43 0.44 unch 0.00 0.61 0.38 0.18 0.17 0.17 - 0.01 0.42 0.17 0.24 0.21 0.21 - 0.03 0.49 0.22 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.34 unch 0.00 0.58 0.33 0.42 0.38 0.39 - 0.01 0.77 0.31 0.00 0.00 0.00 - 0.00 0.01 0.00 3.85 3.80 3.80 - 0.05 4.80 3.40 4.10 3.88 3.89 - 0.04 4.70 2.86 0.72 0.00 0.58 - 0.10 1.33 0.00 0.93 0.70 0.80 - 0.08 1.85 0.08 0.09 0.00 0.05 - 0.01 10.00 0.01 2.70 0.00 2.40 - 0.19 4.25 1.94 3.51 3.08 3.09 + 0.04 5.35 2.61 4.41 3.97 4.36 + 0.13 5.05 3.08 1.67 1.53 1.65 + 0.03 2.76 1.25 2.14 1.97 2.11 + 0.02 3.68 1.61 0.11 0.11 0.11 unch 0.00 0.16 0.05 0.16 0.00 0.15 unch 0.00 0.34 0.06 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.18 0.16 0.17 + 0.02 0.52 0.11 0.13 0.12 0.13 + 0.01 0.41 0.08 17.12 15.97 16.66 + 0.62 21.93 15.00 13.27 12.31 13.01 + 0.56 16.38 11.64 0.63 0.58 0.58 unch 0.00 0.97 0.37 0.49 0.45 0.45 - 0.02 0.71 0.29 0.00 0.00 0.00 - 0.00 0.01 0.00 0.11 0.10 0.11 + 0.01 0.19 0.05 0.23 0.19 0.23 + 0.01 0.36 0.19 0.19 0.15 0.17 - 0.02 0.26 0.15 0.13 0.00 0.07 + 0.04 0.13 0.00 0.05 0.04 0.04 unch 0.00 0.07 0.03 0.03 0.02 0.03 - 0.00 0.06 0.02 0.00 0.00 0.10 unch 0.00 0.18 0.06 0.00 0.00 0.07 unch 0.00 0.24 0.01 0.11 0.10 0.11 unch 0.00 0.23 0.07 0.09 0.07 0.07 - 0.00 0.18 0.06 0.44 0.39 0.42 + 0.01 0.68 0.36 0.56 0.53 0.53 + 0.02 0.88 0.46 0.23 0.19 0.23 + 0.03 0.52 0.16 0.15 0.13 0.14 + 0.00 0.76 0.12 0.19 0.17 0.18 unch 0.00 1.01 0.16 0.23 0.20 0.21 - 0.02 0.37 0.19 0.15 0.12 0.13 unch 0.00 0.41 0.11 0.33 0.29 0.29 - 0.02 0.50 0.19 0.25 0.21 0.25 + 0.01 0.30 0.09 0.90 0.84 0.85 - 0.04 1.23 0.76 1.11 0.00 1.11 unch 0.00 1.50 0.20 0.70 0.65 0.66 - 0.03 0.93 0.59 0.00 0.00 0.00 + 0.00 0.00 0.00 0.04 0.04 0.04 - 0.01 0.06 0.03 0.21 0.20 0.20 - 0.01 0.33 0.19 0.27 0.25 0.27 - 0.02 0.43 0.24 1.20 0.91 1.17 + 0.33 1.09 0.46 1.65 1.12 1.52 + 0.45 1.41 0.44 0.06 0.04 0.06 + 0.01 0.11 0.03 0.07 0.06 0.07 + 0.01 0.15 0.05 1.29 1.20 1.24 unch 0.00 2.10 1.06 0.16 0.15 0.15 - 0.03 0.21 0.10 0.11 0.11 0.11 unch 0.00 0.16 0.09 0.29 0.26 0.27 - 0.02 0.56 0.26 0.29 0.18 0.28 + 0.09 0.38 0.04 0.22 0.13 0.21 + 0.05 0.30 0.03 0.04 0.03 0.04 + 0.00 0.06 0.02 0.07 0.05 0.06 + 0.01 0.12 0.04 0.09 0.07 0.08 unch 0.00 0.16 0.06 0.09 0.05 0.06 - 0.01 0.09 0.03 0.11 0.08 0.11 + 0.03 0.10 0.05 0.20 0.19 0.20 - 0.01 0.39 0.18 0.11 0.09 0.10 - 0.01 0.40 0.05 0.30 0.26 0.26 - 0.05 0.30 0.16 0.11 0.09 0.10 - 0.01 0.12 0.05 0.19 0.17 0.18 + 0.00 0.27 0.13 0.24 0.22 0.23 + 0.01 0.35 0.17 0.10 0.09 0.09 + 0.00 0.18 0.09 0.13 0.11 0.11 - 0.02 0.25 0.12 0.08 0.06 0.07 - 0.01 0.18 0.06 1.97 0.00 1.90 - 0.06 2.20 1.02 2.58 2.44 2.45 - 0.09 2.87 1.28 0.33 0.29 0.29 - 0.03 0.72 0.21 0.25 0.22 0.24 - 0.03 0.54 0.18 0.25 0.20 0.23 + 0.02 0.71 0.14 0.18 0.15 0.18 + 0.02 0.56 0.10 0.09 0.00 0.09 unch 0.00 0.18 0.08 0.00 0.00 0.00 unch 0.00 0.01 0.00 1.33 1.03 1.32 + 0.26 1.25 0.56 1.69 1.37 1.69 + 0.33 1.60 0.40 0.10 0.08 0.09 + 0.01 0.12 0.04 0.08 0.06 0.07 + 0.01 0.09 0.03 0.18 0.11 0.13 - 0.04 0.21 0.04 0.24 0.15 0.16 - 0.06 0.32 0.05 0.00 0.00 0.39 unch 0.00 0.44 0.39 0.21 0.21 0.21 unch 0.00 0.57 0.15 0.11 0.09 0.09 - 0.01 0.24 0.08 0.59 0.51 0.57 + 0.01 0.73 0.18 0.46 0.40 0.45 + 0.01 0.59 0.17 0.04 0.04 0.04 unch 0.00 0.08 0.02

G-H

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Great Lakes Gr V 2608 Great Panther T 234 Great Panther* X 2314 Great Quest Fe* O 13 Great Quest Fe V 124 Great Thunder V 687 O 315 Great Western* Greatbanks Res* O 6 Green Arrow V 353 Green River 250 Green Swan Cap V 219 Green Valley M V 148 Greencastle Rs V 79 O 610 Greenland M&En* Greenshield Ex V 8 Grizzly Discvr V 380 O 110 Grizzly Discvr* Group Eleven V 34 Group Ten Mtls* O 48 Group Ten Mtls V 177 GrowMax Res* O 221 GrowMax Res V 502 GT Gold V 1402 O 111 GT Gold * GTA Res & Mng V 124 V 30 Guerrero Vents Gungnir Res V 238 Gungnir Res* O 134 Gunpoint Expl V 3 Guyana Gldflds T 2494 Guyana Goldstr V 76 Guyana Goldstr* O 25 O 15 Handa Copper* Handa Copper V 45 Handeni Gold* O 0 V 314 Hannan Metals Hannan Metals* O 58 Happy Ck Mnrls V 280 Harfang Explor V 26 N 45424 Harmony Gold* Harte Gold* O 460 Harte Gold T 2551 Harvest Gold V 33 Hawkeye Gld&Di V 10 Hawkeye Gld&Di* O 0 V 147 Heatherdale Rs 15871 Hecla Mining* N Helio Res V 12 Hellix Vent* O 144 Hemcare Health* O 30 Heron Res T 29 Highbank Res V 139 Highbury Proj V 0 O 349 Highland Copp* Highland Copp V 7514 1 Highway 50 Gld* O HiHo Silver 429 V 52 Hinterland Mtl Hochschild Mg* O 16 Homeland Egy V 7 Honey Badger E V 1194 Honey Badger E* O 1 T 2203 Horizonte Mnls Hornby Bay Mnl V 175 HudBay Mnls* N 2802 HudBay Mnls T 7416 Hudson Res V 47 Hudson Res* O 23 Hunt Mng* O 109 Hunt Mng V 302 V 118 Hybrid Mineral Hycroft Mg* O 1

0.06 0.05 0.05 unch 0.00 0.10 0.03 1.55 1.46 1.49 - 0.01 2.63 1.39 1.20 1.13 1.18 + 0.02 1.96 1.06 0.11 0.11 0.11 unch 0.00 0.16 0.10 0.18 0.13 0.13 unch 0.00 0.24 0.12 0.03 0.03 0.03 unch 0.00 0.10 0.03 0.00 0.00 0.00 - 0.00 0.00 0.00 0.02 0.02 0.02 unch 0.00 0.07 0.02 0.06 0.05 0.05 + 0.01 0.19 0.03 0.06 0.00 0.06 unch 0.00 0.09 0.01 0.07 0.06 0.07 + 0.01 0.13 0.05 0.47 0.38 0.47 + 0.10 0.48 0.08 0.13 0.11 0.11 - 0.01 0.18 0.07 0.08 0.07 0.08 + 0.01 0.14 0.06 0.12 0.12 0.12 unch 0.00 0.15 0.05 0.12 0.09 0.10 - 0.01 0.14 0.03 0.09 0.07 0.08 - 0.00 0.11 0.03 0.26 0.23 0.23 - 0.02 0.40 0.24 0.21 0.19 0.19 - 0.01 0.23 0.08 0.27 0.24 0.25 - 0.01 0.28 0.09 0.10 0.09 0.09 - 0.01 0.13 0.06 0.13 0.12 0.12 unch 0.00 0.19 0.09 0.60 0.49 0.50 - 0.06 2.76 0.31 0.44 0.38 0.40 - 0.03 2.24 0.25 0.05 0.05 0.05 + 0.01 0.08 0.04 0.02 0.02 0.02 - 0.01 0.04 0.01 0.11 0.09 0.10 - 0.01 0.22 0.04 0.09 0.08 0.08 - 0.01 0.17 0.03 0.18 0.18 0.18 - 0.01 0.30 0.16 5.12 4.80 4.83 - 0.11 7.85 3.96 0.22 0.21 0.22 - 0.01 0.38 0.14 0.17 0.16 0.16 - 0.05 0.25 0.16 0.06 0.05 0.05 unch 0.00 0.12 0.04 0.08 0.07 0.07 - 0.01 0.18 0.05 0.00 0.00 0.13 unch 0.00 0.14 0.02 0.29 0.25 0.25 - 0.04 0.50 0.20 0.23 0.18 0.22 + 0.01 0.36 0.17 0.19 0.17 0.19 - 0.01 0.26 0.14 0.25 0.23 0.25 + 0.02 0.35 0.22 2.35 2.10 2.20 + 0.05 2.78 1.56 0.36 0.31 0.36 + 0.05 0.66 0.26 0.47 0.40 0.47 + 0.07 0.87 0.33 0.05 0.05 0.05 unch 0.00 0.06 0.03 0.09 0.08 0.08 - 0.01 0.12 0.05 0.00 0.00 0.06 unch 0.00 0.09 0.04 0.05 0.05 0.05 unch 0.00 0.09 0.04 4.03 3.65 3.84 + 0.14 6.17 3.38 0.14 0.14 0.14 - 0.02 1.25 0.13 0.02 0.01 0.01 unch 0.00 0.23 0.01 0.27 0.23 0.27 - 0.04 2.30 0.11 0.72 0.66 0.70 - 0.03 0.80 0.56 0.03 0.00 0.03 unch 0.00 0.06 0.02 0.00 0.00 0.25 unch 0.00 0.35 0.22 0.13 0.11 0.12 - 0.00 0.14 0.06 0.16 0.14 0.15 unch 0.00 0.18 0.09 0.28 0.28 0.28 unch 0.00 0.48 0.18 0.08 0.06 0.07 unch 0.00 0.11 0.03 0.04 0.03 0.04 + 0.01 0.05 0.02 2.91 0.00 2.88 - 0.43 4.37 2.84 0.29 0.00 0.29 + 0.01 1.50 0.18 0.07 0.06 0.06 - 0.01 0.15 0.04 0.06 0.06 0.06 - 0.00 0.06 0.03 0.08 0.00 0.08 unch 0.00 0.11 0.04 0.08 0.06 0.06 - 0.02 0.08 0.00 8.13 7.48 7.70 + 0.10 10.25 4.60 10.48 9.70 9.89 + 0.03 12.65 6.13 0.58 0.55 0.58 + 0.04 0.80 0.38 0.46 0.42 0.46 + 0.05 0.60 0.29 0.38 0.25 0.32 - 0.01 0.41 0.11 0.50 0.33 0.42 + 0.02 0.51 0.13 0.53 0.48 0.50 + 0.01 0.55 0.12 0.00 0.00 0.02 unch 0.00 2.00 0.01

I-Minerals* O 25 I-Minerals V 115 IAMGOLD T 4369 IAMGOLD* N 17405 Iconic Mnls V 743 17 Iconic Mnls * O IDM Mining* O 362 IDM Mining V 346 IEMR Res V 200 IGC Res V 64 iMetal Res* O 43 iMetal Res V 1100 V 525 IMPACT Silver Impala Platnm* O 1 Imperial Metal T 144 Imperial Metal* O 22 Imperial Mg Gr V 165 29 Inca One Gold* O Inca One Gold V 410 66 Inception Mng * O Independence G V 191 Independence G* O 49 Indico Res V 103 Infinite Lith V 198 Infinite Lith* O 10 Inform Res V 7 Infrastructure* O 40 Inomin Mines V 233 Inspiration Mg 2182 Inspiration Mg* O 87 Intact Gold* O 6 Intact Gold V 78 Integra Res* O 62 Integra Res V 909 V 244 Inter-Rock Mnl Intercontinent V 6 Intercontinent* O 1 Intgr Egy Sol* O 13025 Intl Battery* O 134 Intl Bethl Mng V 46 Intl Bethl Mng* O 6 Intl Cobalt* O 25 Intl Cobalt 3171 Intl Corona V 35 Intl Lithium* O 309 Intl Lithium V 579 Intl Millm Mng V 408 Intl Montoro V 78 Intl Prospect * O 4 Intl Prospect V 21 Intl Samuel Ex V 1482 Intl Star* O 135009 Intl Tower Hil* X 440 Intl Tower Hil T 22 Intl Zeolite V 400 Intl Zeolite* O 28 Intrepid Pots* N 8254 INV Metals* O 15 INV Metals T 227 Inventus Mg * O 125 Inventus Mg V 125 InZinc Mining V 1095 InZinc Mining* O 116 Ireland* O 6 Ironside Res V 53 Ironside Res * O 16 Irving Res 201 Irving Res* O 62 IsoEnergy Ltd V 114 Itafos* O 24 Itafos V 17 Itoco Mg Corp* O 6 Ivanhoe Mines* O 503 Ivanhoe Mines T 7136 Jaguar Mng* O 3 Jaguar Mng T 98 Japan Gold V 911 Japan Gold* O 438 Jasper Mng V 32 Jaxon Mining* O 10 Jaxon Mining V 547 Jayden Res* O 0 Jayden Res V 297 JDF Explor Inc 5 Jiminex V 1296 Jiulian Res V 100 Jourdan Res V 8214 Jubilee Metals* O 8 Juggernaut Exp V 202 K2 Gold V 98 K92 Mng Inc* O 1152 K92 Mng Inc V 4551 Kaizen Discov V 8848 Kaizen Discvry* O 51

0.25 0.22 0.22 - 0.04 0.44 0.18 0.32 0.29 0.31 - 0.01 0.60 0.24 7.02 6.52 6.53 - 0.30 8.87 4.54 5.43 5.08 5.08 - 0.22 7.25 3.36 0.12 0.10 0.10 - 0.01 0.43 0.04 0.08 0.08 0.08 + 0.01 0.28 0.03 0.07 0.06 0.07 - 0.00 0.13 0.06 0.09 0.09 0.09 - 0.01 0.18 0.09 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.03 0.01 0.03 + 0.02 0.03 0.01 0.10 0.09 0.09 - 0.00 0.12 0.04 0.12 0.00 0.10 - 0.02 0.18 0.04 0.38 0.36 0.37 + 0.01 0.73 0.26 2.18 2.18 2.18 unch 0.00 3.35 2.10 2.36 2.24 2.29 + 0.05 6.39 2.19 1.83 1.74 1.77 - 0.03 4.74 1.72 0.14 0.10 0.10 - 0.05 0.27 0.09 0.06 0.05 0.06 + 0.01 0.12 0.04 0.08 0.07 0.07 - 0.01 0.16 0.06 0.30 0.00 0.30 unch 0.00 0.45 0.11 0.14 0.11 0.11 - 0.02 0.26 0.10 0.10 0.08 0.08 - 0.02 0.20 0.07 0.02 0.00 0.02 unch 0.00 0.04 0.01 0.21 0.19 0.20 - 0.01 0.45 0.12 0.17 0.15 0.15 - 0.02 0.34 0.07 0.16 0.16 0.16 unch 0.00 0.39 0.07 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.16 0.15 0.15 unch 0.00 0.20 0.02 0.13 0.09 0.11 + 0.03 0.27 0.01 0.10 0.07 0.09 + 0.01 0.20 0.01 0.14 0.14 0.14 unch 0.00 0.25 0.08 0.21 0.16 0.16 - 0.05 0.60 0.15 0.89 0.81 0.89 + 0.00 1.50 0.05 1.14 1.01 1.14 + 0.02 1.40 0.96 0.59 0.00 0.49 + 0.12 0.59 0.11 0.17 0.00 0.16 + 0.02 0.20 0.07 0.13 0.00 0.12 - 0.02 0.16 0.05 0.00 0.00 0.00 + 0.00 0.00 0.00 0.35 0.22 0.31 + 0.07 1.11 0.15 0.09 0.07 0.08 - 0.02 0.17 0.03 0.05 0.05 0.05 unch 0.00 0.13 0.05 0.21 0.20 0.20 - 0.00 0.31 0.15 0.28 0.24 0.26 + 0.01 0.45 0.08 0.05 0.05 0.05 unch 0.00 0.12 0.03 0.10 0.08 0.10 + 0.00 0.18 0.06 0.13 0.11 0.13 - 0.01 0.23 0.07 0.04 0.03 0.04 + 0.01 0.05 0.01 0.05 0.05 0.05 + 0.01 0.15 0.03 0.11 0.11 0.11 unch 0.00 0.28 0.05 0.18 0.15 0.18 unch 0.00 0.36 0.04 0.07 0.06 0.07 - 0.01 0.15 0.05 0.00 0.00 0.00 - 0.00 0.00 0.00 0.48 0.44 0.47 + 0.02 0.67 0.29 0.65 0.57 0.60 + 0.03 0.82 0.38 0.45 0.35 0.38 unch 0.00 0.93 0.26 0.33 0.28 0.33 + 0.05 0.72 0.20 4.28 3.64 4.01 + 0.45 5.12 1.24 0.50 0.50 0.50 unch 0.00 0.80 0.50 0.68 0.60 0.61 - 0.04 1.07 0.65 0.15 0.14 0.14 - 0.01 0.31 0.11 0.20 0.19 0.19 - 0.01 0.39 0.13 0.18 0.15 0.17 unch 0.00 0.28 0.10 0.14 0.13 0.13 - 0.00 0.21 0.07 0.16 0.14 0.14 - 0.03 0.32 0.09 0.13 0.12 0.12 - 0.01 0.21 0.07 0.10 0.09 0.09 - 0.01 0.12 0.05 1.28 1.07 1.20 + 0.08 1.54 0.60 1.00 0.85 0.94 + 0.06 1.24 0.09 0.47 0.42 0.43 unch 0.00 1.24 0.26 2.25 2.12 2.15 - 0.03 2.25 0.97 2.90 2.75 2.76 - 0.04 2.90 1.14 0.20 0.00 0.15 - 0.05 4.77 0.15 2.50 2.21 2.47 + 0.18 4.10 2.15 3.24 2.86 3.16 + 0.21 5.47 2.73 0.30 0.00 0.29 - 0.00 0.52 0.18 0.41 0.36 0.37 unch 0.00 0.68 0.22 0.32 0.25 0.30 + 0.05 0.40 0.19 0.24 0.19 0.24 + 0.05 0.30 0.16 0.10 0.09 0.10 unch 0.00 0.18 0.06 0.14 0.12 0.12 - 0.01 0.27 0.12 0.17 0.15 0.16 + 0.02 0.41 0.05 0.07 0.00 0.07 + 0.00 0.30 0.05 0.11 0.09 0.10 + 0.01 0.38 0.07 0.01 0.00 0.01 unch 0.00 0.04 0.03 0.03 unch 0.00 0.06 0.01 0.04 0.04 0.04 unch 0.00 0.06 0.02 0.13 0.07 0.09 + 0.02 0.20 0.04 0.04 0.04 0.04 unch 0.00 0.06 0.04 0.23 0.21 0.22 + 0.04 0.59 0.08 0.27 0.24 0.24 - 0.02 0.56 0.18 0.50 0.37 0.48 + 0.10 0.86 0.31 0.64 0.48 0.60 + 0.12 1.06 0.41 0.10 0.07 0.10 + 0.03 0.24 0.07 0.06 0.05 0.06 - 0.00 0.18 0.05

I-J-K

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Kapuskasing Gd* O 24 Kapuskasing Gd V 95 Karmin Expl V 48 Karnalyte Res T 32 Karoo Expl V 217 KAT Expl* O 0 Katanga Mng T 3372 V 331 Kenadyr Mining Kenadyr Mining* O 28 V 273 Kennady Diam Kermode Res V 129 Kerr Mines* O 97 Kerr Mines T 483 Kesselrun Res* O 9 Kesselrun Res V 51 Kestrel Gold V 926 Khan Res 2718 V 3264 Kilo Goldmines Kilo Goldmines* O 13 O 34 Kincora Copper* Kincora Copper V 277 Kings Bay Res* O 25 Kings Bay Res V 199 Kingsmen Res V 296 O 1 Kingsmen Res* Kingsrose Mng* O 3 Kinross Gold* N 41232 Kinross Gold T 10065 Kintavar Exp V 470 Kirkland Lake* N 2988 Kirkland Lake T 4072 Kitrinor Mtls V 213 Kivalliq Enrgy V 263 Klondex Mines T 2873 V 411 Klondike Gold Klondike Gold* O 188 Klondike Silv V 325 Klondike Silv* O 27 Knick Expl V 304 Kombat Copper V 85 V 214 Komet Resource Kootenay Silvr* O 95 Kootenay Silvr V 448 Kootenay Zinc 169 93 Kutcho Copper * O KWG Res* O 272 KWG Res 1750

0.02 0.02 0.02 unch 0.00 0.05 0.02 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.85 0.84 0.85 unch 0.00 1.50 0.32 0.49 0.00 0.45 - 0.04 0.80 0.40 0.77 0.70 0.70 - 0.02 1.10 0.01 0.00 0.00 0.00 unch 0.00 0.00 0.00 1.95 1.70 1.76 - 0.18 2.83 0.26 0.15 0.13 0.13 - 0.02 1.00 0.10 0.11 0.10 0.10 - 0.02 1.45 0.08 3.12 2.90 3.00 + 0.05 4.25 2.45 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.19 0.16 0.17 - 0.01 0.34 0.09 0.24 0.22 0.23 unch 0.00 0.41 0.12 0.09 0.07 0.07 + 0.01 0.17 0.06 0.10 0.00 0.10 - 0.01 0.23 0.08 0.06 0.05 0.05 - 0.01 0.19 0.02 0.15 0.10 0.12 - 0.05 0.18 0.05 0.07 0.05 0.05 - 0.01 0.09 0.03 0.04 0.04 0.04 + 0.00 0.07 0.02 0.14 0.11 0.11 unch 0.00 0.43 0.11 0.19 0.16 0.16 + 0.01 0.58 0.14 0.06 0.06 0.06 unch 0.00 0.15 0.05 0.11 0.10 0.10 + 0.01 0.19 0.06 0.15 0.15 0.15 unch 0.00 0.20 0.10 0.11 0.11 0.11 unch 0.00 0.13 0.07 0.29 0.29 0.29 unch 0.00 0.34 0.29 3.75 3.54 3.57 - 0.07 4.91 3.15 4.84 4.55 4.55 - 0.14 6.29 4.24 0.42 0.30 0.41 + 0.06 0.65 0.10 16.33 15.37 15.57 - 0.23 16.89 6.30 21.03 19.76 19.92 - 0.44 21.03 8.54 21.67 18.45 21.01 + 0.07 34.45 4.05 0.08 0.08 0.08 unch 0.00 0.14 0.08 1.96 1.75 1.82 - 0.10 7.00 1.66 0.28 0.25 0.26 - 0.01 0.60 0.18 0.22 0.19 0.21 + 0.01 0.49 0.13 0.09 0.08 0.09 unch 0.00 0.10 0.04 0.07 0.06 0.07 + 0.01 0.08 0.02 0.03 0.03 0.03 unch 0.00 0.08 0.02 0.29 0.27 0.27 unch 0.00 0.49 0.21 0.41 0.37 0.40 + 0.02 0.42 0.31 0.15 0.14 0.15 - 0.00 0.25 0.13 0.19 0.18 0.19 + 0.01 0.33 0.17 0.37 0.32 0.35 + 0.01 6.40 0.30 0.45 0.40 0.42 - 0.03 0.84 0.22 0.01 0.01 0.01 - 0.00 0.02 0.00 0.02 0.02 0.02 unch 0.00 0.03 0.01

La Imperial 102 Labdr Iron Mns* O 182 Labrador Gold V 86 Labrador Gold* O 1 Labrador Iron T 1162 Lara Expl V 44 Laramide Res T 332 Laredo Res* O 8734 Largo Res T 1250 Largo Res* O 159 Lateral Gold V 77 Latin Am Mnls V 278 Latin Am Mnls* O 8 Laurion Mnl Ex* O 195 Laurion Mnl Ex V 294 Le Mare Gold* O 16 Le Mare Gold V 35 LeadFX Inc* O 2 Leading Edge V 122 Leading Edge* O 131 Leagold Mg T 412 Leagold Mg* O 305 Leeta Gold V 10791 Legion Metals 270 Levon Res Ltd * O 154 Levon Res Ltd T 753 Libero Copper V 13085 Liberty Gold* O 104 Liberty One Li V 205 Liberty One Li* O 1177 LiCo Energy* O 6137 LiCo Energy V 4960 Lincoln Mng V 473 Lion One Mtls V 420 Lion One Mtls* O 112 Lions Bay Cap V 35 Lithion Energy* O 7 Lithium Amer* N 908 Lithium Amer T 894 Lithium Chile* O 6 Lithium Chile V 698 Lithium Corp* O 688 Lithium Energi* O 18 Lithium Energi V 201 V 922 Lithium Energy Lithium Expl* O 1267 Lithium X Egy* O 3427 Lithium X Egy V 5758 Lithoquest Dia V 154 LKA Gold* O 11 Lode-Star Mg* O 1 Lomiko Mtls* O 165 Loncor Res* O 5 Loncor Res T 303 Lone Star Gold* O 5070 Lonmin plc* O 1 Lonmin plc* O 8 V 134 Lorraine Coppr Los Andes Copp V 79 LSC Lithium* O 51 Lucara Diam T 8917 Lucky Mnls * O 11 Lucky Mnls V 62 Lumina Gold* O 17 Lumina Gold V 183 Lund Enterpr V 26 Lundin Gold T 339 Lundin Mng T 9644 Lupaka Gold V 307 Lydian Intl* O 271 Lydian Intl T 1593 Lynas Corp* O 302 Lynas Corp* O 365

0.07 0.07 0.07 unch 0.00 0.08 0.04 0.03 0.01 0.01 - 0.01 0.10 0.00 0.20 0.18 0.20 + 0.01 0.22 0.04 0.11 0.11 0.11 unch 0.00 0.18 0.04 25.02 22.75 23.66 - 0.74 28.55 15.10 0.77 0.74 0.74 - 0.01 1.11 0.50 0.33 0.28 0.28 - 0.04 0.68 0.23 0.00 0.00 0.00 + 0.00 0.01 0.00 1.39 1.14 1.35 + 0.22 1.44 0.34 1.08 0.89 1.06 + 0.18 1.15 0.26 0.73 0.68 0.72 + 0.03 1.27 0.59 0.11 0.10 0.10 + 0.01 0.20 0.07 0.08 0.07 0.07 + 0.01 0.12 0.06 0.05 0.05 0.05 - 0.00 0.05 0.01 0.06 0.05 0.06 unch 0.00 0.07 0.01 0.13 0.08 0.08 - 0.05 3.40 0.06 0.17 0.17 0.17 unch 0.00 3.80 0.17 1.44 1.31 1.44 - 0.01 1.57 0.26 0.70 0.62 0.65 unch 0.00 1.01 0.51 0.53 0.48 0.51 - 0.00 0.80 0.38 2.93 2.81 2.83 - 0.07 3.48 2.27 2.28 2.18 2.21 - 0.05 2.80 1.76 1.83 1.27 1.46 - 0.25 6.75 0.09 0.12 0.11 0.11 unch 0.00 0.21 0.10 0.25 0.22 0.25 + 0.01 0.37 0.21 0.33 0.29 0.31 + 0.01 0.49 0.28 0.09 0.09 0.09 unch 0.00 0.19 0.07 0.34 0.31 0.33 + 0.02 0.44 0.27 0.63 0.55 0.55 - 0.06 2.49 0.47 0.49 0.42 0.43 - 0.05 1.95 0.37 0.11 0.09 0.09 - 0.00 0.90 0.06 0.14 0.12 0.12 - 0.01 0.20 0.08 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.68 0.58 0.66 + 0.01 0.86 0.45 0.53 0.46 0.52 + 0.01 0.64 0.36 0.10 0.10 0.10 unch 0.00 0.25 0.10 0.08 0.08 0.08 unch 0.00 0.12 0.07 6.53 6.05 6.35 + 0.17 10.95 2.87 8.38 7.85 8.15 + 0.17 14.06 3.85 0.73 0.66 0.66 - 0.07 0.73 0.66 1.02 0.85 0.88 unch 0.00 1.35 0.42 0.38 0.30 0.33 unch 0.00 0.62 0.05 0.38 0.37 0.37 - 0.00 0.75 0.07 0.53 0.45 0.47 + 0.02 0.97 0.07 0.06 0.05 0.05 unch 0.00 0.08 0.04 0.05 0.03 0.04 + 0.00 0.13 0.02 2.01 1.65 1.99 + 0.26 2.05 1.03 2.58 2.16 2.57 + 0.37 2.58 1.40 0.34 0.30 0.30 - 0.03 0.47 0.30 0.16 0.15 0.16 - 0.04 0.65 0.11 0.02 0.02 0.02 - 0.01 0.10 0.02 0.14 0.05 0.09 - 0.05 0.25 0.03 0.08 0.07 0.07 + 0.01 0.14 0.05 0.11 0.10 0.11 + 0.01 0.20 0.08 0.03 0.01 0.01 - 0.02 0.03 0.00 0.92 0.00 0.88 - 0.09 1.63 0.79 0.90 0.90 0.90 unch 0.00 1.37 0.90 0.15 0.12 0.15 - 0.01 0.19 0.06 0.34 0.30 0.30 - 0.03 0.47 0.15 0.97 0.82 0.85 - 0.11 1.31 0.86 2.33 2.12 2.14 + 0.03 3.31 2.11 0.10 0.09 0.09 - 0.01 0.18 0.07 0.13 0.12 0.13 unch 0.00 0.23 0.09 0.59 0.57 0.57 - 0.02 0.70 0.46 0.78 0.72 0.75 - 0.01 1.00 0.60 0.14 0.12 0.13 - 0.01 0.24 0.09 5.35 4.99 5.31 + 0.28 6.50 4.07 8.63 8.05 8.30 + 0.14 10.22 6.62 0.29 0.21 0.25 + 0.01 0.29 0.11 0.38 0.31 0.33 - 0.05 0.50 0.23 0.50 0.42 0.43 - 0.06 0.63 0.31 1.93 1.67 1.92 + 0.29 1.90 0.05 1.95 1.70 1.91 + 0.23 2.00 0.51

M M2 Cobalt* O 9 0.61 0.61 0.61 unch 0.00 0.61 0.61 Macarthur Mnl V 6965 0.07 0.05 0.06 + 0.01 0.14 0.05 Macarthur Mnl* O 242 0.05 0.04 0.04 + 0.01 0.10 0.04 Maccabi Vent 215 0.10 0.06 0.09 unch 0.00 0.10 0.03 MacDonald Mns* O 25 0.07 0.07 0.07 - 0.00 0.20 0.06 MacDonald Mns V 195 0.09 0.08 0.08 - 0.01 0.28 0.07 MacMillan Mnls V 34 1.70 1.57 1.68 + 0.08 1.90 1.24 Madeira Mrnls V 10 0.05 0.05 0.05 unch 0.00 0.05 0.02 MAG Silver T 796 13.52 12.66 12.77 - 0.29 19.79 11.71 O 2228 0.04 0.02 0.02 - 0.01 0.19 0.02 Magellan Gold* Magna Terra V 15 0.06 0.05 0.06 + 0.01 0.09 0.04 unch 0.00 0.06 0.03 Magna Terra* O 1 0.04 0.04 0.04 Magnus Intl* O 218 0.01 0.01 0.01 - 0.00 0.01 0.00 Majestic Gold V 5103 0.06 0.05 0.05 + 0.01 0.11 0.04 Majestic Gold* O 21543 0.04 0.03 0.03 - 0.00 0.07 0.03 Makena Res 197 0.12 0.10 0.12 unch 0.00 0.24 0.10 Makena Res* O 3 0.09 0.09 0.09 unch 0.00 0.15 0.09 Mammoth Res V 236 0.08 0.07 0.07 - 0.02 0.16 0.05 Manado Gold V 327 0.07 0.00 0.07 - 0.01 0.24 0.05 Mandalay Res T 522 0.25 0.23 0.24 - 0.01 0.64 0.23 Mandalay Res* O 73 0.19 0.17 0.18 - 0.01 0.48 0.17 Manganese X* O 1212 0.21 0.18 0.18 + 0.01 0.21 0.07 Manganese X V 5712 0.28 0.22 0.25 + 0.03 0.28 0.08 Mangazeya Mng V 336 0.02 0.00 0.02 + 0.01 0.04 0.02 Manitou Gold V 260 0.14 0.11 0.14 + 0.02 0.19 0.05 Manson Creek V 217 0.40 0.31 0.40 + 0.10 0.39 0.04 Manson Creek* O 224 0.27 0.24 0.27 - 0.00 0.29 0.03 Maple Gold* O 587 0.21 0.18 0.19 - 0.01 0.27 0.16 Maple Gold V 1590 0.26 0.23 0.24 - 0.02 0.41 0.21 Marathon Gold* O 74 0.77 0.72 0.72 - 0.03 1.14 0.69 Marathon Gold T 380 0.99 0.92 0.92 - 0.04 1.36 0.89 Margaret Lake V 898 0.09 0.08 0.09 + 0.01 0.14 0.05 Margaux Res V 197 0.29 0.25 0.27 - 0.02 0.39 0.18 Margaux Res* O 22 0.20 0.20 0.20 unch 0.00 0.27 0.16 Marifil Mines V 63 0.16 0.13 0.16 + 0.02 0.40 0.11 Maritime Res V 157 0.11 0.10 0.10 - 0.02 0.15 0.09 Marlin Gold V 370 0.52 0.38 0.40 - 0.12 1.15 0.39 Martina Mnls V 4 0.00 0.00 0.04 unch 0.00 0.07 0.02 MartinMarietta* N 2748 210.60 201.34 209.18 + 4.87 244.32 191.09 Mason Graphite* O 172 1.44 1.33 1.43 + 0.07 2.47 0.91 Mason Graphite V 294 1.85 1.72 1.82 + 0.03 3.15 1.22 Mason Res* O 72 0.17 0.15 0.16 + 0.00 0.29 0.01 Mason Res T 108 0.22 0.20 0.22 + 0.01 0.40 0.13

2018-03-13 5:33 PM

WWW.NORTHERNMINER.COM

MARCH 19â&#x20AC;&#x201C;APRIL 1, 2018 / THE NORTHERN MINER

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

Week

12-month

Exc Volume High Low Last Change High Low

Masuparia Gold V 5 Matachewan Con V 3 Matamec Expl V 245 Matamec Expl* O 40 Matica Ent 10955 Matica Ent* O 330 Matmown* O 20 Maudore Mnrls* O 5 Maverix Mtls* O 5 Mawson Res T 303 Mawson Res* O 48 MAX Res V 1201 MaxTech Vent 249 MaxTech Vent* O 438 Maxwell Res* O 18 Maya Gold &Sil V 437 Mazarin V 113 MBMI Res* O 2 MBMI Res V 3 McChip Res V 9 McEwen Mng T 1128 McEwen Mng* N 10395 McLaren Res * O 30 McLaren Res 305 MDN Inc* O 7 Meadow Bay Gd V 1735 Meadow Bay Gd* O 4 Mechel* N 462 Medallion Res* O 307 Medallion Res V 66 Medgold Res V 23 Medgold Res* O 20 Medinah Mnrls* O 824 Mega Uranium T 284 Mega Uranium* O 56 Megastar Dev V 312 Melior Res V 699 Melkior Res V 597 Meridian Mg V 47 Meridian Mg * O 30 Meryllion Res 247 Meryllion Res* O 17 MetalCorp V 283 Metalex Vent V 167 Metallic Mnrls V 243 Metallic Mnrls* O 180 Metallica Min* O 208 Metallis Res V 206 Metalo Manuf 45 Metalore Res V 1 Metals Creek* O 42 Metals Creek V 423 Metals X* O 28 Metanor Res* O 12 Metanor Res V 256 Metron Capital V 10 Mexican Gold* O 11 Mexus Gold* O 6355 Mezzotin Mnrls V 379 MGX Minerals 2095 MGX Minerals* O 1180 Micrex Dev V 39 Midas Gold* O 999 Midas Gold T 839 Midland Expl V 9 Midnight Sun V 91 Millennial Lit* O 306 Millennial Lit V 2228 Millrock Res* O 123 Millrock Res V 154 Milner Con Slv V 100 Minaurum Gold V 1306 Minco Silver* O 48 Minco Silver T 83 Minecorp Egy * O 0 Minera Alamos * O 130 Minera Alamos V 517 Minera IRL 206 Mineral Mtn* O 212 Mineral Mtn V 1133 Mineral Res* O 1 MineralRite* O 5200 V 933 Mineworx Tech Mineworx Tech* O 285 Minfocus Expl V 737 Mining Global* O 5000 Minnova Corp V 5 Minsud Res V 130 Miramont Res 385 Miranda Gold V 161 Mirasol Res V 229 Mistango River 692 MK2 Ventures V 4 MK2 Ventures * O 0 Mkango Res V 710 ML Gold* O 7 ML Gold Corp V 1220 Monarca Mnrls* O 70 V 63 Monarca Mnrls Monarques Res V 375 O 124 Monarques Res* Moneta Porcpn* O 148 Moneta Porcpn T 1283 Monitor Vent* O 23 Monitor Vent V 10 O 3 Monster Uran* Montan Mg* O 111 Montan Mg V 819 Montego Res 348 Montego Res* O 6 3 Montero Mg&Ex * O V 29 Montero Mg&Ex Monument Mng V 713 Morien Res* O 22 Morien Res V 209 Morumbi Res* O 14 Morumbi Res T 269 N 29687 Mosaic* Mount Gibson * O 3 Mountain Boy* O 27 Mountain Boy V 339 Mountain Lake 14 Mountain Prov* D 112 Mountain Prov T 456 Mundoro Cap* O 50 Mundoro Cap V 156 Murchison Min 142 Mustang Mnrls* O 68 V 225 Mustang Mnrls MX Gold* O 251

0.11 0.11 0.11 unch 0.00 0.15 0.05 0.25 0.25 0.25 unch 0.00 0.34 0.21 0.04 0.03 0.03 unch 0.00 0.08 0.03 0.03 0.03 0.03 - 0.00 0.06 0.02 0.42 0.35 0.37 - 0.03 0.81 0.04 0.32 0.28 0.30 - 0.01 0.64 0.03 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.00 0.00 0.00 unch 0.00 0.00 0.00 1.32 1.21 1.32 + 0.09 1.50 0.92 0.63 0.52 0.54 - 0.05 0.65 0.29 0.48 0.41 0.41 - 0.04 0.48 0.24 0.31 0.24 0.26 - 0.04 0.32 0.06 0.60 0.41 0.60 + 0.11 0.63 0.14 0.48 0.32 0.47 + 0.08 0.48 0.13 0.01 0.01 0.01 unch 0.00 0.04 0.00 2.50 1.76 2.13 - 0.28 2.92 0.48 0.12 0.09 0.11 + 0.02 0.18 0.03 0.03 0.03 0.03 unch 0.00 0.09 0.00 0.08 0.00 0.08 unch 0.00 0.13 0.03 0.52 0.00 0.51 unch 0.00 0.87 0.37 2.72 2.54 2.60 + 0.05 4.69 2.33 2.11 1.95 2.02 + 0.06 3.52 1.82 0.08 0.08 0.08 unch 0.00 0.09 0.06 0.09 0.06 0.09 - 0.01 0.19 0.03 0.21 0.21 0.21 - 0.04 0.62 0.09 0.26 0.25 0.25 unch 0.00 0.36 0.06 0.20 0.20 0.20 unch 0.00 0.28 0.04 4.92 4.71 4.74 - 0.15 6.23 4.00 0.09 0.09 0.09 - 0.00 0.17 0.08 0.13 0.11 0.13 + 0.02 0.24 0.09 0.21 0.18 0.19 + 0.02 0.25 0.13 0.17 0.00 0.17 + 0.00 0.19 0.12 0.00 0.00 0.00 - 0.00 0.01 0.00 0.18 0.17 0.17 - 0.02 0.26 0.13 0.13 0.12 0.12 - 0.00 0.19 0.10 0.08 0.07 0.07 - 0.01 0.10 0.03 0.12 0.10 0.11 + 0.01 0.15 0.03 0.05 0.04 0.04 unch 0.00 0.10 0.04 0.35 0.00 0.25 - 0.03 1.39 0.19 0.17 0.17 0.17 unch 0.00 0.56 0.17 0.04 0.04 0.04 unch 0.00 0.21 0.02 0.02 0.02 0.02 + 0.00 0.07 0.00 0.03 0.02 0.02 unch 0.00 0.06 0.02 0.05 0.04 0.04 - 0.01 0.10 0.04 0.40 0.36 0.39 + 0.02 0.50 0.22 0.32 0.26 0.32 + 0.02 0.40 0.19 0.04 0.04 0.04 unch 0.00 0.06 0.03 1.06 0.99 1.04 - 0.01 2.75 0.14 0.45 0.31 0.45 unch 0.00 1.00 0.23 2.52 2.24 2.29 - 0.21 4.65 2.00 0.06 0.04 0.05 - 0.00 0.08 0.03 0.07 0.00 0.07 + 0.01 0.11 0.05 0.64 0.64 0.64 unch 0.00 0.96 0.51 0.51 0.46 0.46 - 0.05 0.94 0.47 0.65 0.57 0.58 - 0.06 1.29 0.60 0.05 0.05 0.05 unch 0.00 0.05 0.05 0.25 0.22 0.22 - 0.00 0.32 0.18 0.03 0.02 0.02 - 0.00 0.14 0.02 0.02 0.01 0.02 unch 0.00 0.04 0.01 1.53 1.24 1.25 - 0.10 1.96 0.73 1.20 0.97 1.00 - 0.08 1.58 0.54 0.02 0.01 0.02 + 0.01 0.03 0.01 0.77 0.69 0.70 - 0.02 0.89 0.42 0.98 0.89 0.90 - 0.02 1.08 0.55 0.92 0.88 0.88 - 0.02 1.15 0.82 0.44 0.41 0.42 + 0.02 0.54 0.21 2.79 2.30 2.41 + 0.05 3.87 0.88 3.59 3.07 3.08 + 0.01 4.80 1.20 0.21 0.18 0.19 - 0.02 0.42 0.19 0.28 0.24 0.25 - 0.02 0.55 0.24 0.07 0.07 0.07 unch 0.00 0.09 0.04 0.60 0.49 0.56 - 0.01 0.67 0.21 0.54 0.50 0.51 - 0.01 1.23 0.46 0.70 0.64 0.69 unch 0.00 1.74 0.59 0.07 0.00 0.07 + 0.01 0.11 0.04 0.12 0.11 0.11 - 0.02 0.18 0.10 0.16 0.12 0.13 - 0.03 0.24 0.12 0.09 0.08 0.09 + 0.01 0.18 0.06 0.38 0.29 0.35 + 0.06 0.41 0.13 0.50 0.34 0.44 + 0.07 0.50 0.15 13.75 13.75 13.75 unch 0.00 16.78 7.00 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.30 0.26 0.26 - 0.03 0.40 0.05 0.23 0.20 0.21 - 0.02 0.33 0.05 0.03 0.02 0.02 unch 0.00 0.06 0.01 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.66 0.66 0.66 - 0.01 0.90 0.55 0.10 0.07 0.10 + 0.01 0.16 0.06 0.40 0.30 0.36 unch 0.00 0.65 0.20 0.05 0.05 0.05 unch 0.00 0.11 0.05 2.25 2.00 2.17 + 0.16 2.60 1.42 0.03 0.01 0.03 - 0.01 0.07 0.01 0.17 0.17 0.17 unch 0.00 0.23 0.09 0.00 0.00 0.12 unch 0.00 0.17 0.08 0.14 0.14 0.14 unch 0.00 0.24 0.04 0.14 0.14 0.14 - 0.00 0.26 0.08 0.19 0.17 0.17 - 0.02 0.32 0.10 0.05 0.04 0.04 - 0.01 0.14 0.04 0.06 0.05 0.05 - 0.01 0.23 0.05 0.39 0.36 0.38 - 0.01 0.47 0.25 0.30 0.28 0.28 - 0.01 0.38 0.19 0.12 0.11 0.12 - 0.01 0.17 0.10 0.16 0.15 0.15 - 0.01 0.23 0.13 0.24 0.19 0.19 - 0.00 0.81 0.13 0.27 0.00 0.27 + 0.01 1.13 0.25 0.06 0.06 0.06 unch 0.00 0.06 0.02 0.02 0.01 0.01 - 0.01 0.05 0.01 0.03 0.02 0.02 - 0.01 0.08 0.01 0.38 0.30 0.32 - 0.01 0.55 0.14 0.30 0.30 0.30 unch 0.00 0.32 0.30 0.23 0.23 0.23 unch 0.00 0.38 0.14 0.30 0.27 0.27 - 0.03 0.49 0.12 0.07 0.07 0.07 + 0.01 0.10 0.06 0.51 0.45 0.45 - 0.04 0.60 0.37 0.65 0.58 0.62 + 0.01 0.77 0.47 0.89 0.83 0.88 + 0.02 0.96 0.45 1.16 1.04 1.12 + 0.02 1.23 0.55 29.18 26.59 28.25 + 1.50 30.49 19.23 0.31 0.31 0.31 unch 0.00 0.36 0.20 0.04 0.04 0.04 unch 0.00 0.09 0.03 0.06 0.05 0.06 - 0.01 0.11 0.05 0.04 0.03 0.03 - 0.01 0.09 0.02 2.66 2.55 2.60 - 0.03 4.10 2.45 3.45 3.32 3.33 - 0.06 5.25 3.18 0.11 0.08 0.09 - 0.02 0.22 0.08 0.14 0.11 0.11 - 0.03 0.30 0.12 0.25 0.00 0.22 + 0.06 0.25 0.13 0.21 0.18 0.18 + 0.01 0.37 0.07 0.27 0.22 0.25 + 0.02 0.52 0.10 0.08 0.05 0.05 - 0.02 0.17 0.05

NA Frac Sand* O 59 NACCO Ind* N 119 Namibia Rare E V 1828 Namibia Rare E* O 118 Napier Vent V 15 Napier Vent* O 3 Natural Res Pt* N 100 Nautilus Mnrls T 2043 Nautilus Mnrls* O 566 Navis Res Corp 3 Nemaska Lith T 5543 Nemaska Lith* O 606 Neo Lithium V 380 Neometals* O 30 Network Expl V 67 Nevada Canyon* O 25 Nevada Clean M* O 89 Nevada Clean M V 454 Nevada Copper T 69 Nevada Energy* O 16 Nevada Energy V 5 Nevada Expl * O 62 Nevada Expl V 54 Nevada Sunrise* O 24 Nevada Sunrise V 114 Nevada Zinc V 176 Nevado Res V 46 Nevsun Res* X 3697 Nevsun Res T 3851

0.02 0.01 0.01 - 0.00 0.09 0.01 42.35 38.20 40.15 - 0.75 48.85 14.45 0.19 0.13 0.17 + 0.02 0.24 0.04 0.14 0.11 0.13 + 0.02 0.18 0.03 0.45 0.45 0.45 unch 0.00 0.54 0.33 0.40 0.40 0.40 unch 0.00 0.44 0.28 31.24 29.25 30.50 + 0.30 40.31 22.81 0.27 0.23 0.23 - 0.01 0.39 0.14 0.21 0.17 0.17 - 0.02 0.31 0.11 0.36 0.00 0.36 unch 0.00 2.50 0.33 1.38 1.30 1.34 + 0.02 2.44 0.95 1.07 0.99 1.04 + 0.03 1.96 0.70 1.87 1.75 1.82 + 0.05 2.75 0.85 0.30 0.28 0.30 + 0.02 0.80 0.20 0.40 0.37 0.38 + 0.01 0.48 0.37 0.10 0.10 0.10 unch 0.00 0.22 0.05 0.03 0.03 0.03 - 0.00 0.08 0.02 0.03 0.00 0.03 unch 0.00 0.08 0.03 0.74 0.69 0.74 unch 0.00 0.84 0.41 0.19 0.15 0.16 - 0.01 1.09 0.07 0.23 0.20 0.21 + 0.01 1.40 0.20 0.24 0.21 0.23 + 0.00 0.35 0.21 0.31 0.27 0.28 - 0.03 0.46 0.27 0.12 0.11 0.12 + 0.01 0.28 0.09 0.17 0.14 0.16 + 0.01 0.36 0.12 0.21 0.19 0.20 - 0.02 0.41 0.18 0.04 0.03 0.04 + 0.01 0.07 0.02 2.37 2.18 2.35 + 0.06 2.77 1.96 3.05 2.82 3.02 + 0.07 3.54 2.49

N-O

20-23_MAR19_StockTables.indd 22

(100s) Stock

Week

(100s) Stock

12-month

P-Q 12-month

Exc Volume High Low Last Change High Low

New Age Metals* O 161 New Age Metals V 593 New Carolin Gd* O 248 New Carolin Gd V 90 New Destiny Mg V 126 New Gold* X 27724 New Gold T 3561 New Guinea Gld* O 1175 New Jersey Mng* O 119 New Milln Iron* O 18 New Milln Iron T 238 New Nadina V 579 New Nadina* O 157 New Oroperu V 50 New Pac Metals V 195 New Pac Metals* O 11 393 New Point Expl New Stratus V 59 New Tech Lith* O 277 New Tech Lith 521 New World Res V 256 Newlox Gold 626 Newmac Res V 6 Newmont Mng* N 26306 Newport Expl V 63 O 18 Newport Gold* NewRange Gold* O 105 NewRange Gold V 346 1 Nexa Resources T Nexa Resources* N 2182 Nexco Res 32 Nexgen Energy* X 823 Nexgen Energy T 2663 NextSource Mat T 3246 Nexus Gold V 1455 Nexus Gold* O 176 NGEx Res* O 12 NGEx Res T 36 Nickel Creek T 1631 Nickel Creek* O 296 Nickel North V 50 Nickel One Res V 481 Nicola Mg Inc V 873 Nicola Mg Inc* O 81 Nighthawk Gold* O 48 T 223 Nighthawk Gold Niobay Metals V 82 Niocan Inc V 41 Niocorp Dev T 378 Niocorp Dev* O 812 Nippon Dragon V 229 O 24 Nippon Dragon* Nitinat Mnls V 650 Nitinat Mnls* O 20 NKWE Platinum* O 9 Noble Metal Gr V 1335 Noble Mnl Expl* O 68 Noble Mnl Expl V 1233 Noka Res* O 146 Noram Vent V 78 Noram Vent* O 4 O 77 Noranda Alum* Noront Res V 631 Norsemont Cap 3 Nortec Mnls V 154 North Am Nickl V 1049 North Am Nickl* O 15 North Am Pall* O 30 North Am Pall T 51 North Arrow Mn* O 43 North Arrow Mn V 115 Northcliff Res T 485 Northern Uran V 125 Northisle C&G V 262 Northland Res* O 0 O 55 Northn Empire* Northn Empire V 390 Norvista Cap V 30 Nouveau Monde* O 141 Nouveau Monde V 1401 NovaGold Res* X 4772 T 587 NovaGold Res Novo Res* O 545 Novo Res V 1436 NovX21* O 77 NRG Metals V 1168 NRG Metals* O 991 Nrthn Graphite* O 508 Nrthn Graphite V 454 Nrthn Lion V 23 Nrthn Mnrls &E* O 93 Nrthn Shield V 543 Nrthn Superior* O 4 Nrthn Superior V 1011 Nrthn Vertex* O 56 Nrthn Vertex V 215 NSGold V 10 NSS Res Inc 249 Nthn Dynasty T 1252 Nthn Dynasty* X 6343 Nthrn Sphere* O 79 Nthrn Sphere 150 Nubian Res V 38 NuLegacy Gold V 1149 NuLegacy Gold* O 717 Nunavik Nickel V 67 Nutrien T 6734 Nutrien* N 13687 NV Gold* O 81 NV Gold V 224 NX Uranium* O 16 NxGold Ltd* O 2 NxGold Ltd V 7 O.T. Mining* O 70 OceanaGold T 5594 OceanaGold* O 2 Oceanic Iron O V 101 Oceanic Iron O* O 1 Oceanus Res V 120 Oceanus Res* O 82 Odyssey Res V 605 OK2 Minerals V 2694 Olivut Res V 13 Olivut Res* O 13 Omineca Mg &Ml V 678 One World Lith 104 Opawica Expl V 21 Opus One Res V 250 Orbite Tech* O 50 Orca Gold V 539 Orca Gold* O 109 Orefinders Res V 291 Orestone Mng V 70 Orex Mnrls* O 87 Orex Mnrls V 166 Orezone Gold V 970 Orezone Gold* O 32 Orford Mining V 426 Organic Potash 0 Original Sixtn* O 58 Orla Mng Ltd V 151 Orla Mng Ltd* O 5 Oro East Mg* O 139 Oroco Res V 525 Oroco Res* O 78 Orocobre T 839 Oronova Energy V 177 Oroplata Res* O 135 Orosur Mng T 165 Orsu Metals V 74 Orsu Metals* O 15 Orvana Mnrls T 43 Orvana Mnrls* O 10 Osisko Gold T 1358 Osisko Gold* N 2263 Osisko Metals V 425 Osisko Metals* O 25 Osisko Mng Inc T 1794 Osprey Gold V 498 Otis Gold V 643 Otis Gold* O 206 OZ Minerals* O 7

Week

Exc Volume High Low Last Change High Low

0.11 0.09 0.09 + 0.01 0.15 0.04 0.13 0.12 0.12 - 0.01 0.19 0.05 0.33 0.32 0.32 - 0.01 0.58 0.18 0.45 0.41 0.42 + 0.01 0.77 0.20 0.35 0.29 0.34 - 0.01 0.35 0.11 2.67 2.42 2.42 - 0.14 4.25 2.47 3.44 3.10 3.10 - 0.20 5.16 3.16 0.00 0.00 0.00 + 0.00 0.00 0.00 0.18 0.17 0.17 - 0.01 0.19 0.10 0.08 0.07 0.07 - 0.01 0.18 0.06 0.10 0.09 0.10 unch 0.00 0.25 0.08 0.27 0.14 0.22 + 0.06 4.60 0.08 0.15 0.12 0.15 + 0.01 3.60 0.06 0.40 0.00 0.40 unch 0.00 0.65 0.33 1.55 1.45 1.55 unch 0.00 1.65 1.00 1.22 1.12 1.22 + 0.10 1.28 0.74 0.35 0.33 0.34 - 0.02 0.35 0.11 0.14 0.10 0.10 - 0.04 0.48 0.08 0.06 0.05 0.06 + 0.01 0.19 0.05 0.09 0.07 0.08 - 0.01 0.17 0.06 0.25 0.25 0.25 + 0.02 0.29 0.10 0.06 0.00 0.06 unch 0.00 0.08 0.03 0.07 0.07 0.07 unch 0.00 0.09 0.05 39.16 37.24 37.71 - 0.22 42.04 31.42 0.27 0.24 0.25 - 0.01 0.30 0.19 0.05 0.02 0.05 + 0.03 0.07 0.00 0.23 0.20 0.21 - 0.03 0.59 0.05 0.30 0.26 0.27 - 0.02 0.75 0.23 26.10 0.00 26.05 - 0.54 26.70 19.80 20.74 19.74 19.93 - 0.54 21.61 15.27 0.25 0.21 0.25 + 0.04 0.50 0.15 2.15 2.05 2.09 - 0.02 3.20 1.82 2.76 2.64 2.69 - 0.04 3.68 2.40 0.14 0.12 0.13 - 0.01 0.22 0.06 0.05 0.00 0.04 - 0.01 0.31 0.04 0.05 0.03 0.05 + 0.01 0.25 0.03 1.03 0.95 0.95 - 0.08 1.10 0.58 1.30 1.20 1.20 - 0.09 1.49 0.75 0.35 0.29 0.31 + 0.01 0.41 0.22 0.27 0.22 0.23 + 0.00 0.33 0.16 0.04 0.04 0.04 - 0.01 0.05 0.02 0.07 0.05 0.06 + 0.01 0.13 0.02 0.18 0.17 0.17 - 0.01 0.25 0.14 0.14 0.13 0.13 - 0.01 0.18 0.11 0.50 0.46 0.47 - 0.00 0.97 0.45 0.63 0.60 0.60 - 0.02 1.15 0.57 0.28 0.26 0.27 - 0.02 0.82 0.11 0.09 0.07 0.07 unch 0.00 0.18 0.06 0.69 0.62 0.68 + 0.02 0.87 0.37 0.54 0.48 0.53 + 0.02 0.65 0.29 0.05 0.00 0.05 unch 0.00 0.11 0.05 0.04 0.03 0.04 + 0.00 0.09 0.03 0.48 0.30 0.45 + 0.06 0.51 0.04 0.36 0.26 0.36 + 0.01 0.36 0.03 0.02 0.02 0.02 unch 0.00 2.04 0.00 0.02 0.02 0.02 - 0.01 0.04 0.01 0.12 0.10 0.12 + 0.02 0.15 0.03 0.16 0.14 0.14 unch 0.00 0.19 0.04 0.21 0.20 0.21 - 0.00 0.30 0.05 0.44 0.41 0.42 + 0.01 0.80 0.25 0.04 0.04 0.04 unch 0.00 0.64 0.17 0.05 0.04 0.04 - 0.01 0.17 0.01 0.37 0.35 0.36 - 0.01 0.52 0.22 0.40 0.40 0.40 unch 0.00 0.47 0.31 0.12 0.11 0.11 - 0.01 0.18 0.06 0.09 0.08 0.08 unch 0.00 0.10 0.06 0.06 0.06 0.06 - 0.01 0.08 0.04 8.20 7.30 8.20 + 0.83 9.31 3.51 10.52 9.38 10.52 + 1.02 11.60 4.65 0.18 0.16 0.17 + 0.02 0.23 0.14 0.24 0.22 0.22 + 0.01 0.40 0.18 0.11 0.10 0.10 - 0.01 0.22 0.10 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.20 0.15 0.15 - 0.03 0.21 0.09 0.00 0.00 0.01 unch 0.00 2.00 0.00 1.12 0.95 0.95 - 0.14 1.14 0.47 1.44 1.22 1.23 - 0.18 1.44 0.58 0.12 0.12 0.12 unch 0.00 0.16 0.08 0.27 0.23 0.24 - 0.01 0.42 0.19 0.37 0.30 0.31 - 0.03 0.54 0.26 4.18 3.88 3.96 + 0.08 5.64 3.35 5.39 5.01 5.06 + 0.05 7.49 4.33 3.85 3.40 3.60 - 0.02 7.08 0.49 4.95 4.42 4.63 + 0.01 8.83 0.66 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.28 0.25 0.28 + 0.01 0.62 0.09 0.22 0.19 0.22 + 0.01 0.49 0.07 0.39 0.34 0.34 - 0.02 0.55 0.19 0.50 0.43 0.43 - 0.06 0.70 0.24 0.49 0.48 0.48 - 0.01 0.67 0.31 0.07 0.05 0.07 + 0.01 0.06 0.01 0.03 0.02 0.03 unch 0.00 0.09 0.02 0.04 0.04 0.04 unch 0.00 4.63 0.02 0.05 0.00 0.04 - 0.01 0.08 0.03 0.44 0.37 0.43 + 0.03 0.58 0.34 0.57 0.49 0.55 + 0.03 0.70 0.43 0.11 0.11 0.11 unch 0.00 0.16 0.02 0.20 0.15 0.15 - 0.02 1.39 0.05 1.25 1.17 1.18 unch 0.00 3.30 1.00 0.98 0.90 0.94 - 0.01 2.42 0.81 0.07 0.06 0.07 unch 0.00 0.32 0.06 0.07 0.07 0.07 - 0.01 0.55 0.07 0.27 0.25 0.27 + 0.04 0.38 0.17 0.19 0.17 0.18 + 0.01 0.30 0.15 0.15 0.12 0.14 + 0.01 0.23 0.12 0.12 0.11 0.12 + 0.02 0.17 0.08 68.93 63.99 66.79 + 3.05 70.05 55.27 53.75 49.25 52.15 + 2.67 56.18 40.41 0.25 0.21 0.22 - 0.01 0.39 0.13 0.32 0.29 0.30 unch 0.00 0.48 0.17 0.01 0.00 0.01 unch 0.00 0.04 0.01 0.19 0.19 0.19 - 0.00 0.26 0.17 0.24 0.00 0.24 unch 0.00 0.62 0.18 0.10 0.05 0.10 + 0.02 0.20 0.03 3.57 3.29 3.30 - 0.18 5.00 2.92 2.66 2.53 2.59 + 0.06 3.60 2.23 0.13 0.11 0.11 - 0.02 0.29 0.06 0.09 0.09 0.09 unch 0.00 0.19 0.07 0.25 0.20 0.25 + 0.03 0.36 0.17 0.20 0.17 0.20 + 0.03 0.29 0.13 0.04 0.04 0.04 unch 0.00 0.08 0.04 0.05 0.04 0.05 + 0.01 0.14 0.04 0.13 0.00 0.12 - 0.02 0.20 0.08 0.11 0.09 0.10 - 0.00 0.15 0.06 0.04 0.00 0.03 unch 0.00 0.07 0.03 0.14 0.14 0.14 unch 0.00 0.16 0.10 0.15 0.14 0.14 - 0.02 0.58 0.10 0.08 0.08 0.08 unch 0.00 0.15 0.06 0.01 0.00 0.00 - 0.00 0.19 0.00 0.57 0.50 0.53 unch 0.00 0.78 0.35 0.44 0.38 0.41 + 0.00 0.63 0.25 0.14 0.11 0.12 - 0.02 0.17 0.05 0.11 0.00 0.09 - 0.03 0.13 0.05 0.12 0.10 0.11 - 0.00 0.16 0.08 0.15 0.00 0.14 - 0.01 0.21 0.10 0.83 0.77 0.80 + 0.03 1.02 0.51 0.62 0.59 0.62 + 0.04 0.82 0.38 0.30 0.26 0.26 - 0.04 0.70 0.23 0.00 0.00 0.03 unch 0.00 0.05 0.01 0.10 0.06 0.10 unch 0.00 0.12 0.00 1.43 1.36 1.36 - 0.04 1.85 1.04 1.08 1.08 1.08 + 0.03 1.48 0.88 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.14 0.12 0.12 unch 0.00 0.15 0.02 0.10 0.10 0.10 + 0.00 0.11 0.02 6.03 5.61 5.76 - 0.14 7.36 2.73 0.12 0.00 0.12 + 0.02 0.45 0.10 0.10 0.08 0.08 - 0.01 0.34 0.06 0.15 0.13 0.14 unch 0.00 0.32 0.13 0.17 0.15 0.15 - 0.01 0.35 0.13 0.13 0.12 0.13 - 0.00 0.22 0.11 0.23 0.22 0.22 - 0.02 0.33 0.17 0.18 0.16 0.18 + 0.00 0.25 0.14 13.11 12.32 12.62 - 0.13 17.58 12.00 10.17 9.56 9.87 - 0.03 14.39 9.51 0.70 0.65 0.65 - 0.05 1.74 0.27 0.58 0.00 0.51 - 0.07 1.33 0.52 2.83 2.50 2.52 - 0.26 5.65 2.52 0.10 0.09 0.09 - 0.01 0.44 0.07 0.26 0.21 0.25 + 0.03 0.39 0.17 0.20 0.15 0.19 + 0.03 0.29 0.13 7.44 7.20 7.40 + 0.20 7.80 4.70

Pac Bay Mnrls V 200 1 Pac Booker Min* O Pac Booker Min V 16 Pac Imperial V 1317 55 Pac Iron Ore V Pac Potash* O 0 Pac Potash V 67 Pac Ridge Expl* O 209 Pac Ridge Expl V 309 Pac Topaz V 133 Pacific Rim 1542 Pacific Rim* O 227 Pacton Gold V 1208 Paget Mrnls V 7 O 129 Paladin Energy* Palamina Corp* O 24 V 73 Palamina Corp Palladon Vent* O 5 Pan Am Silver T 867 Pan Am Silver* D 5818 Pan Global Res V 201 Pancontinental V 668 Pancontinental* O 272 Pangolin Dia V 1865 Panoro Mnrls V 775 PanTerra Gold* O 1 Pantheon Vent V 213 Para Resources V 317 Parallel Mng V 237 Paramount Gold* X 154 Paringa Res* O 58 Pasinex Res 265 Patriot Gold 1 Patriot Gold* O 12 N 5899 Peabody Enrgy* Peat Res V 1446 Pedro Res V 1430 Pelangio Expl* O 76 Pelangio Expl V 137 Pele Mtn Res V 76 Pele Mtn Res* O 1 Peloton Mnrls 138 O 1 Peloton Mnrls* PepinNini Lith* O 1 Peregrine Diam T 1497 Perseus Mng T 1791 Pershimex Res V 80 Pershing Gold* D 160 1 Pershing Gold T Pershing Res* O 166 Petra Diamonds* O 1 Philex Mng* O 0 O 1 Philippine Mtl* Philippine Mtl V 14 Pine Cliff En T 870 Pine Cliff En* O 18 2 Pinecrest Res * O Pinecrest Res V 6 Pistol Bay Mng V 162 Pistol Bay Mng* O 1 1 PJSC Polyus Gd* O PJX Res V 1206 Plata Latina V 90 Plate Res V 1 Plateau Uran* O 220 Plateau Uran V 437 Platinex Inc 867 Platinum Gp Mt T 196 Platinum Gp Mt* X 1591 Plato Gold V 568 Playfair Mng V 329 Playfair Mng* O 52 PolyMet Mng* X 2278 PolyMet Mng T 136 Portage Res* O 84 Portofino Res V 606 Portofino Res* O 3 Potash Ridge* O 310 Potash Ridge T 3878 Power Metals* O 20 Power Metals V 1789 PPX Mining V 505 PPX Mining* O 3 Precipitate Gl V 185 Premier Gold M T 912 Premium Expl* O 10 Pretium Res* N 10310 Pretium Res T 2646 Primero Mng T 1392 Primero Mng* O 1195 Prism Res V 110 Prize Mng* O 22 Prize Mng V 263 Probe Metals* O 91 Probe Metals V 136 Promithian Gl * O 0 Prophecy Coal* O 21 Prophecy Coal T 83 O 32 Prospect Glob* Prospector Res V 81 Prosper Gold V 454 Prospero Silvr V 145 Provenance Gld 20 Providence V 63 Providence Gld* O 27 PUF Vent Inc 1716 PUF Vent Inc * O 167 Puma Expl V 2608 Puma Expl* O 10 Pure Energy* O 860 Pure Energy V 947 Pure Gold Mg* O 234 Pure Gold Mg V 1188 Pure Nickel* O 78 Pure Nickel V 2710 V 524 Purepoint Uran Q-Gold Res V 190 QMC Qntm Ml* O 1125 QMC Qntm Ml V 935 QMX Gold* O 16 QMX Gold V 499 Quadro Res V 194 Quantum Cobalt 711 0 Quartz Mtn Res V Quaterra Res V 245 Quaterra Res* O 403 53 Quest Rare Mnl* O Quinto Res V 321

0.05 0.03 0.05 + 0.02 0.07 0.03 1.01 1.01 1.01 - 0.01 1.10 0.35 1.31 1.07 1.07 - 0.23 1.44 0.42 0.07 0.05 0.07 + 0.01 0.07 0.01 0.15 0.14 0.15 + 0.02 0.23 0.11 0.00 0.00 0.03 unch 0.00 0.04 0.03 0.06 0.04 0.05 - 0.01 0.06 0.03 0.04 0.03 0.03 - 0.01 0.06 0.03 0.07 0.00 0.07 + 0.01 0.11 0.05 0.15 0.13 0.13 - 0.02 0.23 0.10 0.77 0.60 0.69 + 0.06 1.59 0.33 0.59 0.47 0.57 + 0.06 1.25 0.47 0.27 0.25 0.25 - 0.01 0.40 0.06 0.04 0.04 0.04 unch 0.00 0.08 0.03 0.49 0.13 0.15 - 0.10 0.25 0.00 0.24 0.21 0.22 - 0.03 0.27 0.12 0.31 0.00 0.28 - 0.03 0.38 0.15 0.00 0.00 0.00 unch 0.00 0.00 0.00 20.36 19.48 19.92 + 0.17 25.76 18.00 15.80 15.08 15.53 + 0.20 19.56 13.99 0.24 0.20 0.20 - 0.02 0.30 0.07 0.08 0.04 0.06 + 0.02 0.10 0.02 0.05 0.04 0.05 + 0.01 0.05 0.01 0.07 0.05 0.06 + 0.01 0.09 0.04 0.35 0.31 0.31 - 0.02 0.48 0.15 0.02 0.02 0.02 unch 0.00 0.02 0.01 0.10 0.09 0.10 unch 0.00 0.26 0.08 0.23 0.19 0.21 unch 0.00 0.25 0.13 0.05 0.05 0.05 unch 0.00 0.13 0.04 1.35 1.26 1.32 + 0.03 1.83 1.16 0.38 0.27 0.28 - 0.01 0.50 0.26 0.21 0.19 0.20 - 0.01 0.33 0.17 0.00 0.00 0.10 unch 0.00 0.15 0.09 0.08 0.08 0.08 + 0.00 0.13 0.05 41.37 38.18 38.51 - 2.76 41.98 22.58 0.34 0.24 0.29 - 0.04 0.40 0.01 0.27 0.21 0.23 - 0.03 0.88 0.13 0.05 0.03 0.05 + 0.01 0.05 0.02 0.06 0.05 0.05 unch 0.00 0.06 0.04 0.06 0.00 0.06 + 0.01 0.30 0.05 0.04 0.00 0.04 - 0.01 0.40 0.01 0.11 0.10 0.11 + 0.01 0.11 0.05 0.08 0.08 0.08 + 0.02 0.08 0.04 0.03 0.03 0.03 unch 0.00 0.07 0.02 0.18 0.15 0.18 + 0.03 0.23 0.11 0.46 0.41 0.42 + 0.01 0.47 0.27 0.10 0.08 0.09 - 0.01 0.19 0.06 2.24 2.08 2.11 - 0.06 3.31 2.06 2.80 2.80 2.80 unch 0.00 4.15 2.63 0.03 0.03 0.03 unch 0.00 0.10 0.01 0.94 0.90 0.94 + 0.04 1.67 0.85 0.00 0.00 0.10 unch 0.00 0.19 0.10 0.00 0.00 0.00 - 0.10 0.11 0.00 0.09 0.09 0.09 unch 0.00 0.16 0.04 0.29 0.28 0.28 - 0.01 0.86 0.28 0.23 0.21 0.21 - 0.02 0.64 0.21 0.19 0.19 0.19 unch 0.00 1.36 0.19 0.26 0.00 0.23 - 0.04 0.56 0.24 0.06 0.00 0.06 unch 0.00 0.12 0.04 0.04 0.00 0.04 - 0.01 0.08 0.03 41.00 40.53 41.00 + 0.70 50.23 31.83 0.22 0.14 0.20 + 0.06 0.24 0.11 0.05 0.05 0.05 unch 0.00 0.05 0.03 0.00 0.00 0.06 unch 0.00 0.08 0.04 0.63 0.00 0.56 - 0.04 0.78 0.21 0.86 0.70 0.72 - 0.10 0.96 0.26 0.21 0.08 0.17 - 0.03 0.30 0.05 0.45 0.40 0.41 - 0.03 2.30 0.36 0.35 0.32 0.33 - 0.01 1.74 0.28 0.05 0.04 0.05 - 0.01 0.06 0.01 0.06 0.05 0.06 + 0.01 0.10 0.05 0.04 0.03 0.04 + 0.01 0.08 0.03 1.21 1.08 1.13 - 0.06 1.36 0.57 1.54 1.41 1.44 - 0.09 1.66 0.71 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.09 0.08 0.09 + 0.01 0.19 0.04 0.06 0.06 0.06 unch 0.00 0.11 0.06 0.07 0.06 0.07 - 0.01 0.22 0.06 0.09 0.08 0.09 + 0.01 0.31 0.08 0.49 0.00 0.49 + 0.02 0.70 0.20 0.67 0.53 0.65 + 0.05 0.88 0.25 0.08 0.08 0.08 - 0.01 0.10 0.05 0.07 0.07 0.07 unch 0.00 0.08 0.04 0.09 0.08 0.08 - 0.01 0.19 0.06 3.23 3.08 3.11 - 0.04 4.13 2.34 0.00 0.00 0.00 + 0.00 0.01 0.00 7.14 6.29 6.96 + 0.11 12.44 6.17 9.21 8.07 8.91 + 0.07 15.52 7.93 0.24 0.22 0.24 + 0.02 0.84 0.08 0.19 0.16 0.18 + 0.01 0.70 0.06 0.10 0.10 0.10 unch 0.00 0.21 0.08 0.23 0.22 0.22 - 0.02 0.52 0.21 0.31 0.27 0.27 - 0.04 0.72 0.25 1.06 1.00 1.05 + 0.04 1.42 0.95 1.36 1.30 1.36 + 0.02 1.74 1.25 0.00 0.00 0.10 unch 0.00 0.10 0.02 2.60 2.23 2.23 - 0.16 4.00 2.21 3.40 2.85 3.00 - 0.15 5.00 2.75 0.14 0.08 0.10 - 0.03 0.14 0.02 0.62 0.00 0.62 + 0.07 1.90 0.55 0.15 0.12 0.14 + 0.03 0.24 0.08 0.14 0.14 0.14 + 0.01 0.34 0.11 0.25 0.20 0.25 + 0.05 0.40 0.08 0.14 0.12 0.14 + 0.01 0.27 0.09 0.11 0.10 0.11 + 0.00 0.13 0.10 1.11 0.93 1.01 - 0.06 2.09 0.28 0.89 0.76 0.78 - 0.05 1.85 0.21 0.11 0.08 0.09 - 0.02 0.13 0.05 0.07 0.07 0.07 - 0.00 0.09 0.04 0.26 0.21 0.22 - 0.03 0.50 0.23 0.33 0.28 0.28 - 0.06 0.65 0.29 0.44 0.40 0.42 - 0.00 0.55 0.35 0.56 0.52 0.52 - 0.03 0.68 0.46 0.02 0.02 0.02 + 0.01 0.04 0.00 0.04 0.03 0.03 + 0.01 0.05 0.01 0.07 0.06 0.06 - 0.01 0.13 0.06 0.18 0.12 0.12 - 0.10 0.30 0.10 0.55 0.43 0.45 - 0.06 1.46 0.07 0.70 0.55 0.59 - 0.06 1.85 0.09 0.16 0.14 0.15 - 0.02 0.29 0.14 0.22 0.18 0.19 - 0.01 0.40 0.19 0.09 0.07 0.08 + 0.01 0.18 0.06 0.40 0.35 0.37 unch 0.00 1.90 0.03 0.00 0.00 0.90 unch 0.00 1.50 0.55 0.09 0.07 0.09 + 0.02 0.15 0.05 0.07 0.06 0.07 + 0.01 0.12 0.03 0.00 0.00 0.00 + 0.00 0.17 0.00 0.06 0.06 0.06 - 0.01 0.12 0.05

Rackla Mtls V 16 Rackla Mtls* O 5 Radisson Mng V 442 Radius Gold V 414 Rae-Wallace Mg* O 50 Rainforest Res* O 24 Rainy Mtn Royl* O 1 Rainy Mtn Royl V 2194 Rambler Ml &Mg V 70 Randgold Res* O 1 Randgold Res* D 2044 Randsburg Intl V 10 Rapier Gold V 625 Rare Element* O 190 Rathdowney Res V 450 Ravencrest Res 602 Razore Rock Res 0 RB Energy* O 71 Red Eagle Expl V 881 Red Eagle Mng* O 437 Red Eagle Mng T 1205 Red Moon Res V 20 Red Oak Mg V 80 Red Pine Expl V 2684 Redhawk Res T 180 Redstar Gold V 2769 Redstar Gold* O 405 Redzone Res V 367 Redzone Res* O 8 Regal Res* O 155 Regency Gold V 10 Regulus Res V 45 Reliant Gold V 175 Remington Res V 18 Renaissance Gd* O 47 Renaissance Gd V 194

0.11 0.00 0.10 unch 0.00 0.17 0.08 0.08 0.07 0.07 - 0.00 0.13 0.05 0.18 0.15 0.15 - 0.03 0.25 0.12 0.11 0.10 0.10 unch 0.00 0.16 0.09 0.01 0.01 0.01 unch 0.00 0.02 0.00 9.20 8.82 9.08 + 0.26 9.08 1.00 0.02 0.02 0.02 unch 0.00 0.13 0.02 0.04 0.04 0.04 - 0.01 0.17 0.03 0.15 0.12 0.14 + 0.02 0.20 0.11 80.20 80.20 80.20 unch 0.00 103.90 80.20 84.69 81.10 82.87 + 1.04 108.29 79.17 0.02 0.02 0.02 unch 0.00 0.02 0.01 0.06 0.06 0.06 unch 0.00 0.14 0.05 0.22 0.18 0.21 - 0.00 0.44 0.07 0.15 0.12 0.15 + 0.02 0.33 0.12 1.38 1.30 1.30 - 0.04 2.10 0.05 0.00 0.00 0.16 unch 0.00 0.90 0.09 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.13 0.10 0.12 + 0.04 0.21 0.06 0.23 0.21 0.23 + 0.02 0.60 0.17 0.30 0.28 0.29 + 0.02 0.80 0.23 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.15 0.15 0.15 unch 0.00 0.25 0.05 0.08 0.07 0.08 unch 0.00 0.14 0.07 0.04 0.03 0.03 unch 0.00 0.10 0.02 0.05 0.04 0.04 - 0.01 0.15 0.04 0.03 0.03 0.03 + 0.00 0.12 0.03 0.50 0.34 0.38 - 0.08 0.75 0.10 0.34 0.29 0.29 - 0.04 0.57 0.08 0.01 0.01 0.01 unch 0.00 0.09 0.00 0.16 0.00 0.16 unch 0.00 0.22 0.10 2.03 1.80 1.86 + 0.01 3.00 1.33 0.03 0.03 0.03 unch 0.00 0.04 0.02 0.40 0.40 0.40 unch 0.00 1.45 0.40 0.19 0.16 0.18 + 0.00 0.38 0.16 0.23 0.22 0.23 - 0.02 0.48 0.21

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Renforth Res 230 Resolve Vent V 184 V 372 Resource Cap O 2 Resource Cap* Reunion Gold V 248 Revelo Res V 660 62 Revival Gold * O Revival Gold V 108 Rhyolite Res V 100 V 355 Richmond Mnls Rift Valley 278 47593 O Rimrock Gold* 75 Rio Novo Gold T Rio Silver V 80 Rio Tinto* N 18780 Rio Tinto* O 4 4 O Rio Tinto* Rise Gold Corp 2169 Riverside Res V 188 O 60 Riverside Res* Rizal Res V 78 RJK Explor V 9 RJK Explor* O 4 Robex Res V 322 V 3 Rochester Res O 3 Rochester Res* 0 Rock Tech Lith* O 33 Rock Tech Lith V Rockcliff Met V 842 O 22 Rockcliff Met* Rockex Mng 125 V 242 Rockhaven Res Rockshield Cap 1135 O 342 Rockshield Cap* V 95 Rockwealth Res O 0 Rockwell Diam* Rodinia Lithm V 93 Rogue Res* O 16 Rogue Res V 51 V 229 Rokmaster Res 58 Romios Gold Rs* O Romios Gold Rs V 163 V 319 RosCan Mrnls 83 Rosita Mg Corp* O Rosita Mg Corp V 568 V 500 Ross River Rotation Mnls V 86 V 1500 Roughrider Exp Roxgold* O 3 T 4133 Roxgold Royal Gold* D 1842 Royal Nickel T 4746 Royal Nickel* O 786 Royal Rd Mnrls V 946 V 181 Royal Sapphire Royal Std Mnrl* O 350 RT Minerals V 749 RT Minerals* O 100 RTG Mining T 162 O 9 Rubicon Mnrls* T 51 Rubicon Mnrls Rugby Mng V 132 22 Running Fox Rs* O Running Fox Rs V 1870 Rupert Res V 244 Rusoro Mng* O 3108 Rusoro Mng V 2536 69 Rye Patch Gold* O Rye Patch Gold V 178

0.04 0.05 0.04 0.05 + 0.01 0.09 0.09 0.11 0.10 0.10 - 0.02 0.69 0.08 0.09 0.08 0.08 - 0.01 0.23 0.06 unch 0.00 0.17 0.06 0.06 0.06 0.10 0.14 0.12 0.13 - 0.01 0.18 0.02 unch 0.00 0.07 0.03 0.03 0.03 0.54 0.50 0.51 - 0.03 0.70 0.50 0.08 unch 0.00 0.86 0.70 0.65 0.69 0.17 unch 0.00 0.40 0.29 0.29 0.29 0.04 0.06 0.04 0.06 + 0.02 0.18 0.05 0.13 0.09 0.12 - 0.01 0.15 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.13 0.13 0.13 + 0.01 0.17 0.08 0.04 0.06 0.05 0.06 - 0.01 0.09 37.66 53.57 51.05 52.07 + 0.59 59.25 37.20 52.30 50.95 51.20 - 0.20 58.07 56.95 0.00 56.95 - 6.81 65.30 43.87 0.15 0.09 0.11 - 0.03 0.36 0.09 0.22 0.26 0.23 0.24 - 0.01 0.55 0.17 0.20 0.18 0.18 - 0.02 0.43 0.02 0.05 0.04 0.05 + 0.02 0.06 0.06 0.08 0.00 0.07 + 0.01 0.23 0.04 0.06 0.06 0.06 + 0.00 0.16 0.06 unch 0.00 0.14 0.08 0.08 0.08 0.03 unch 0.00 0.09 0.07 0.00 0.07 0.02 0.04 0.03 0.03 - 0.02 0.06 1.15 0.00 1.15 - 0.14 1.66 0.59 1.50 1.45 1.45 - 0.05 2.16 0.76 0.04 0.05 0.04 0.04 - 0.01 0.12 0.03 0.03 0.03 0.03 - 0.01 0.10 0.01 unch 0.00 0.05 0.04 0.03 0.04 0.12 0.15 0.14 0.14 - 0.01 0.19 0.09 0.46 0.41 0.43 - 0.01 0.84 0.06 0.37 0.32 0.33 - 0.01 0.67 0.15 0.24 0.20 0.24 + 0.04 0.30 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.09 0.33 0.28 0.29 - 0.02 0.46 0.16 0.26 0.24 0.24 - 0.02 0.43 0.18 unch 0.00 0.58 0.30 0.27 0.30 0.02 0.02 0.02 0.02 - 0.01 0.07 0.06 0.05 0.06 + 0.01 0.07 0.03 0.07 0.06 0.07 + 0.01 0.08 0.04 0.05 0.08 0.08 0.08 + 0.01 0.12 0.05 0.04 0.04 - 0.01 0.06 0.01 0.07 0.06 0.06 - 0.01 0.12 0.02 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.12 0.35 0.25 0.29 - 0.05 0.45 0.04 unch 0.00 0.12 0.04 0.04 0.04 0.78 0.90 0.85 0.85 + 0.02 1.13 1.17 1.09 1.13 + 0.04 1.47 0.99 61.19 84.42 80.29 81.98 + 0.78 94.39 0.16 0.28 0.24 0.25 - 0.03 0.38 0.12 0.22 0.19 0.20 - 0.02 0.31 0.14 0.12 0.12 - 0.02 0.18 0.06 0.06 0.26 0.00 0.26 + 0.06 1.40 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.04 0.05 0.04 0.05 - 0.01 0.15 0.03 unch 0.00 0.10 0.04 0.04 0.04 0.10 0.18 0.00 0.14 - 0.04 0.55 0.90 1.05 0.94 0.96 + 0.01 1.48 1.13 1.35 1.21 1.23 + 0.01 1.99 0.23 0.43 0.36 0.43 + 0.07 0.50 0.03 0.01 0.02 + 0.01 0.03 0.01 0.04 0.03 0.04 + 0.01 0.04 0.01 0.68 1.46 1.14 1.15 - 0.08 1.46 0.05 0.07 0.00 0.07 + 0.01 0.17 0.06 0.08 0.07 0.08 + 0.01 0.22 0.92 0.82 0.84 - 0.01 1.74 0.82 1.18 1.05 1.06 - 0.04 2.37 1.05

T 952 Sabina Gd&Slvr O 471 Sabina Gd&Slvr* Sable Res* O 15 Sable Res V 6967 Sage Gold* O 80 Sage Gold V 392 Sailfish Rylty V 25 Saint Jean* O 218 Saint Jean V 3269 Salazar Res* O 28 Salazar Res V 196 Sama Res V 1211 Sama Res* O 135 Samco Gold V 22 Samex Mng* O 52 53 San Gold Corp* O San Marco Res* O 117 917 San Marco Res V V 1435 Sanatana Diam Sandfire Res V 459 Sandfire Res* O 357 O 223 Sandspring Res* V 389 Sandspring Res T 1455 Sandstorm Gold X 5478 Sandstorm Gold* Sandy Lake Gld* O 403 Sandy Lake Gld V 1337 Santa Fe Gold* O 720 V 190 Santacruz Silv Sarama Res V 80 Sarissa Res* O 1302 Satori Res V 123 Satori Res* O 2 Saturn Mnrls V 982 Savary Gold V 369 Savary Gold* O 550 Saville Res V 580 Scandium Intl T 587 O 106 Scandium Intl* Scorpio Gold V 173 ScoZinc Mg V 322 ScoZinc Mg* O 10 Seabridge Gld T 315 N 1533 Seabridge Gld* Search Mnls V 85 Searchlight* O 437 Secova Mtls* O 165 Secova Mtls V 1077 Sego Res V 245 Select Sands V 1574 T 3802 Semafo V 87 Senator Mnrls V 122 Sennen Potash Serabi Gold T 1140 Serengeti Res V 226 Shamrock Ent 192 Sherritt Intl T 6483 V 272 Shoshoni Gold Sibanye Gold* N 16660 O 19 Sibanye Gold* O 151 Sidney Resrces* Sienna Res* O 33 Sienna Res V 354 X 18 Sierra Metals* Sierra Metals T 61 O 145 Signature Res* V 241 Signature Res Silver Bear Rs T 312 12 Silver Bear Rs* O Silver Bull Re* O 1702 Silver Bull Re T 1421 O 76 Silver Dragon* Silver Fields* O 5 Silver Grail V 824 15 Silver Mtn Mns* O Silver Mtn Mns V 218 Silver Phoenix 50 O 1 Silver Predatr* Silver Predatr V 42 O 0 Silver Pursuit* Silver Pursuit V 135 Silver Range V 59 Silver Scott* O 1 O 1 Silver Spruce* Silver Spruce V 103 Silver Viper V 451 Silver Wheaton T 3524 N 9493 Silver Wheaton* T 1982 Silvercorp Met X 1431 Silvercorp Met* O 182 SilverCrest Mt* V 467 SilverCrest Mt O 50 Silverore Mns* O 93 Silverstar Res* Sirios Res V 512 Sirios Res* O 43 Sitka Gold 49

1.23 1.85 1.69 1.71 - 0.09 2.70 0.91 1.43 1.31 1.34 - 0.05 2.17 0.10 0.17 0.14 0.17 + 0.04 0.17 0.11 0.24 0.17 0.23 + 0.07 0.24 0.07 0.08 0.00 0.08 + 0.00 0.20 0.09 0.10 0.09 0.09 - 0.01 0.27 1.00 1.89 1.62 1.85 - 0.25 3.07 0.02 0.05 0.02 0.03 + 0.01 0.10 0.03 unch 0.00 0.12 0.04 0.00 0.04 0.06 unch 0.00 0.14 0.10 0.10 0.10 0.08 unch 0.00 0.18 0.14 0.13 0.13 0.12 unch 0.00 0.50 0.39 0.33 0.37 0.10 0.30 0.26 0.28 - 0.03 0.41 0.02 unch 0.00 0.11 0.05 0.05 0.05 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.23 0.20 0.21 - 0.00 0.23 0.10 0.30 0.25 0.25 - 0.01 0.30 0.13 0.03 0.05 0.03 0.04 + 0.01 0.07 0.06 0.11 0.08 0.10 + 0.01 0.14 0.05 0.08 0.06 0.08 + 0.01 0.10 0.20 0.25 0.23 0.23 - 0.03 0.44 0.27 0.31 0.30 0.30 - 0.01 0.59 4.37 6.30 5.86 5.91 - 0.11 6.95 3.18 4.90 4.54 4.62 - 0.06 5.64 0.07 0.05 0.05 - 0.02 0.07 0.03 0.09 0.00 0.07 - 0.02 0.11 0.05 0.14 0.11 0.13 - 0.00 0.23 0.07 0.09 0.17 0.15 0.15 - 0.01 0.32 0.08 0.12 0.11 0.12 - 0.01 0.24 0.00 0.00 0.00 0.00 - 0.00 0.01 0.07 0.13 0.09 0.13 + 0.02 0.30 0.07 unch 0.00 0.18 0.09 0.09 0.09 0.07 0.17 0.14 0.17 + 0.02 0.17 0.04 0.07 0.06 0.06 - 0.01 0.10 0.03 0.04 0.04 0.04 - 0.00 0.07 0.06 0.08 0.07 0.08 + 0.01 0.40 0.22 0.18 0.18 - 0.01 0.48 0.16 0.12 0.16 0.13 0.15 - 0.01 0.35 0.02 0.04 0.03 0.03 - 0.01 0.10 0.96 1.39 1.10 1.20 - 0.13 1.75 0.76 0.99 0.00 0.94 - 0.24 1.44 12.61 14.62 13.80 13.87 - 0.51 17.65 11.35 10.65 10.90 - 0.25 13.70 9.50 0.03 0.08 0.07 0.08 + 0.01 0.10 0.01 0.04 0.03 0.03 - 0.01 0.09 0.01 0.03 0.02 0.02 - 0.00 0.07 0.02 0.03 0.02 0.03 + 0.01 0.09 0.03 unch 0.00 0.09 0.05 0.04 0.05 0.35 unch 0.00 1.83 0.42 0.37 0.41 2.68 3.61 3.31 3.34 - 0.16 4.50 0.17 0.21 0.00 0.20 - 0.01 1.99 0.30 0.50 0.44 0.47 + 0.03 1.05 0.05 0.06 0.06 0.06 - 0.01 0.10 0.13 0.16 0.14 0.15 + 0.01 0.26 0.02 unch 0.00 0.08 0.07 0.06 0.06 0.74 unch 0.00 1.87 1.35 1.22 1.22 0.04 0.07 0.05 0.05 - 0.02 0.07 4.36 3.94 4.20 + 0.28 10.59 3.79 1.04 1.04 1.04 1.04 - 0.01 2.44 0.00 0.01 0.01 0.01 - 0.00 0.02 0.07 0.22 0.20 0.22 + 0.00 0.32 0.09 unch 0.00 0.39 0.29 0.26 0.28 2.10 2.32 0.00 2.29 - 0.03 3.10 2.75 3.02 2.89 2.95 - 0.05 3.68 0.05 0.06 0.06 0.06 + 0.00 0.09 0.06 0.07 0.06 0.06 - 0.01 0.19 0.26 0.00 0.24 - 0.01 0.44 0.12 0.20 0.18 0.20 - 0.02 0.33 0.08 0.18 0.15 0.18 + 0.02 0.23 0.06 0.23 0.20 0.23 + 0.03 0.29 0.08 0.00 0.01 0.01 0.01 + 0.01 0.03 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.05 0.06 0.06 0.06 - 0.01 0.13 0.03 0.03 0.03 unch 0.00 0.03 0.01 0.03 0.02 0.03 + 0.01 0.04 0.02 0.05 unch 0.00 0.24 0.07 0.07 0.07 0.05 0.11 0.00 0.11 - 0.01 0.22 0.11 0.14 0.11 0.14 + 0.04 0.28 0.13 unch 0.00 0.16 0.00 0.00 0.13 0.11 unch 0.00 0.23 0.14 0.11 0.14 0.12 unch 0.00 0.29 0.17 0.14 0.17 0.01 unch 0.00 0.24 0.06 0.06 0.06 0.03 unch 0.00 0.08 0.04 0.04 0.04 0.05 0.06 0.06 0.06 + 0.01 0.12 0.15 0.21 0.17 0.21 + 0.04 0.30 23.18 26.14 24.90 25.25 + 0.35 29.90 18.32 20.28 19.16 19.72 + 0.40 22.72 2.72 unch 0.00 5.49 3.38 3.13 3.23 2.12 2.63 2.41 2.54 + 0.06 4.10 0.84 1.99 1.84 1.90 + 0.08 2.10 1.05 2.55 2.36 2.47 + 0.11 2.58 0.03 unch 0.00 0.03 0.03 0.03 0.03 0.10 0.22 0.10 0.20 + 0.06 3.36 0.25 0.28 0.26 0.28 + 0.02 0.49 0.20 0.21 0.20 0.21 + 0.01 0.36 0.16 0.23 0.20 0.20 - 0.03 0.30

2018-03-13 5:33 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / MARCH 19–APRIL 1, 2018

Week

12-month

Exc Volume High Low Last Change High Low

Skeena Res V 193 Skeena Res* O 123 V 547 Skyharbour Res Skyharbour Res* O 451 Slam Explor* O 20 Slam Explor V 87 O 114 Sojourn Explor* Sojourn Explor V 605 Sokoman Iron* O 250 Sokoman Iron V 150 SolGold plc* O 119 SolGold plc T 53 Solitario Ex&R T 52 X 572 Solitario Ex&R* Sonora Gld & S V 277 Sonora Res * O 933 Sonoro Mtls V 256 Sonoro Mtls* O 75 Southern Arc* O 31 Southern Arc V 34 Southern Copp* N 6163 Southern Silvr* O 190 Southern Silvr V 294 T 584 SouthGobi Res Spanish Mtn Gd* O 601 Spanish Mtn Gd V 1260 Sparton Res* O 210 Sparton Res V 584 Spearmint Res* O 380 Spearmint Res V 4793 Sphinx Res V 1025 Sprott Res Hld T 1568 Spruce Ridge R V 701 Squire Mg Ltd 132 SRG Graphite V 91 SSR Mining* D 3723 SSR Mining T 1035 St Augustine T 611 St Elias Mns* O 210 St-Georges Eco* O 221 St-Georges Eco 15035 Stakeholdr Gld* O 23 V 162 Stakeholdr Gld Standard Graph* O 581 Standard Lith V 499 Standard Metal* O 143 Stans Energy V 513 Stans Energy* O 521 Star Diamond T 3021 Star Diamond* O 836 Star Gold* O 27 Starcore Intl T 98 Starr Peak Exp V 43 Steele Oceanic* O 0 Stellar Africa* O 0 Stellar Africa V 375 Stelmine Can V 401 Sterling Grp* O 38 Stina Res 5024 Stina Res* O 145 Stornoway Diam* O 4 Stornoway Diam T 614 Stratabd Mnr V 872 Strategic Metl V 150 Strategic Metl* O 101 Strategic Res* O 0 Strategic Res V 0 Stria Lithium V 315 Strikepoint Gd V 349 Strikepoint Gd* O 157 V 292 Strongbow Expl Stroud Res V 688 Sulliden Mng T 127 Suncor Energy T 13670 N 18372 Suncor Energy* Sunvest Mnrls* O 12 Sunvest Mnrls V 524 Superior Gold* O 47 Superior Gold V 2304 Superior Mng V 49 Superior Mng* O 0 Supreme Metals 995 Surge Copper * O 55 V 80 Surge Copper Sutter Gold V 20 Sutter Gold* O 56 Syrah Res* O 94

0.69 0.64 0.65 - 0.04 0.80 0.40 0.54 0.49 0.51 - 0.03 0.66 0.27 0.40 0.35 0.38 - 0.02 0.63 0.31 0.32 0.28 0.28 - 0.02 0.46 0.24 0.03 0.03 0.03 - 0.00 0.05 0.02 0.05 0.04 0.05 + 0.01 0.07 0.03 0.16 0.14 0.15 + 0.01 0.21 0.12 0.20 0.18 0.19 + 0.02 0.30 0.11 0.03 0.03 0.03 unch 0.00 0.07 0.02 0.04 0.04 0.04 unch 0.00 0.10 0.03 0.34 0.30 0.32 - 0.02 0.63 0.28 0.44 0.39 0.42 + 0.02 0.95 0.34 0.68 0.00 0.60 - 0.06 1.20 0.60 0.53 0.45 0.49 - 0.02 0.91 0.47 0.09 0.08 0.08 - 0.01 0.20 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.17 0.15 0.17 unch 0.00 0.20 0.11 0.14 0.14 0.14 unch 0.00 0.14 0.09 0.39 0.34 0.37 + 0.01 0.65 0.31 0.49 0.43 0.49 + 0.01 0.90 0.36 55.52 52.41 54.56 + 1.61 55.52 32.63 0.22 0.19 0.20 - 0.01 0.42 0.17 0.28 0.25 0.26 unch 0.00 0.57 0.22 0.18 0.17 0.17 unch 0.00 0.40 0.12 0.09 0.07 0.09 - 0.00 0.15 0.06 0.12 0.10 0.11 - 0.01 0.21 0.08 0.07 0.05 0.05 - 0.01 0.11 0.02 0.09 0.07 0.07 - 0.01 0.14 0.03 0.08 0.06 0.07 - 0.00 0.11 0.02 0.09 0.08 0.08 - 0.01 0.14 0.02 0.08 0.07 0.08 unch 0.00 0.08 0.04 0.14 0.13 0.13 - 0.01 0.21 0.13 0.04 0.03 0.04 + 0.01 0.06 0.01 0.35 0.30 0.35 + 0.05 0.35 0.05 1.90 1.70 1.70 - 0.17 2.25 0.29 8.80 8.28 8.55 - 0.08 11.40 7.64 11.34 10.67 10.95 - 0.15 15.35 9.66 0.03 0.02 0.03 - 0.01 0.05 0.02 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.32 0.23 0.23 - 0.08 2.20 0.15 0.42 0.29 0.31 - 0.11 2.90 0.01 0.26 0.19 0.21 - 0.02 0.45 0.18 0.28 0.24 0.24 - 0.06 0.64 0.23 0.67 0.60 0.62 - 0.00 0.86 0.13 2.35 2.13 2.20 - 0.08 2.85 0.71 0.13 0.10 0.11 unch 0.00 0.22 0.02 0.04 0.03 0.04 + 0.01 0.05 0.03 0.04 0.02 0.03 + 0.00 0.04 0.02 0.25 0.19 0.20 unch 0.00 0.44 0.15 0.18 0.15 0.16 + 0.03 0.33 0.12 0.05 0.05 0.05 unch 0.00 0.15 0.05 0.24 0.23 0.23 - 0.01 0.57 0.23 0.14 0.12 0.13 - 0.01 0.19 0.08 0.00 0.00 1.98 unch 0.00 6.40 1.01 0.04 0.04 0.04 unch 0.00 0.05 0.03 0.06 0.05 0.05 unch 0.00 0.07 0.03 0.19 0.17 0.19 + 0.01 0.45 0.16 0.04 0.03 0.03 - 0.01 0.15 0.03 0.38 0.30 0.36 - 0.01 0.41 0.08 0.29 0.23 0.24 - 0.04 0.32 0.08 0.48 0.44 0.45 - 0.02 0.73 0.41 0.62 0.58 0.59 - 0.01 0.99 0.50 0.08 0.06 0.08 + 0.02 0.08 0.01 0.48 0.45 0.48 + 0.03 0.73 0.40 0.38 0.35 0.38 + 0.02 0.54 0.31 0.14 0.00 0.14 unch 0.00 0.14 0.09 0.00 0.00 0.18 unch 0.00 0.25 0.10 0.06 0.05 0.05 + 0.01 0.08 0.03 0.23 0.22 0.23 unch 0.00 0.67 0.15 0.18 0.00 0.17 - 0.01 0.47 0.11 0.21 0.17 0.19 + 0.02 0.27 0.13 0.02 0.00 0.02 unch 0.00 0.03 0.01 0.43 0.39 0.40 + 0.03 0.65 0.18 42.14 40.65 41.74 + 0.89 47.69 36.09 32.84 31.33 32.56 + 0.86 38.39 27.96 0.08 0.07 0.08 + 0.00 0.18 0.06 0.10 0.09 0.10 + 0.01 0.15 0.08 0.97 0.88 0.96 + 0.09 0.98 0.69 1.27 1.12 1.25 + 0.16 1.28 0.85 0.06 0.06 0.06 unch 0.00 0.13 0.04 0.07 0.07 0.07 unch 0.00 0.11 0.03 0.05 0.04 0.04 - 0.01 0.10 0.03 0.21 0.15 0.15 - 0.06 0.21 0.09 0.25 0.15 0.19 - 0.07 0.26 0.09 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.02 0.01 0.02 + 0.00 0.04 0.01 2.70 2.43 2.62 + 0.05 3.85 1.68

Tahoe Res* N 13122 Tahoe Res T 5452 Tajiri Res V 211 Taku Gold* O 32 Taku Gold 114 Talon Metals T 302 O 60 Tamerlane Vent*

5.06 4.51 4.68 - 0.23 9.68 3.76 6.55 5.83 6.00 - 0.32 12.98 4.75 0.18 0.00 0.17 unch 0.00 0.18 0.08 0.07 0.04 0.05 - 0.02 0.20 0.00 0.08 0.06 0.07 - 0.01 0.25 0.06 0.06 0.00 0.05 - 0.01 0.15 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Tamino Mnrls* O 1013 Tanager Energy V 45 Tango Mining V 1552 Tanqueray Expl V 300 Tantalex Res 483 V 5599 Tanzania Mnls Tanzania Rlty T 44 Tanzania Rlty* X 421 Taranis Res V 222 Taranis Res* O 127 Tarku Res V 233 Tartisan Res 721 Tasca Res V 202 Taseko Mines T 1806 Taseko Mines* X 6577 T 8448 Teck Res T 26 Teck Res Teck Res* N 15899 28 Telson Res * O Telson Res V 233 Tembo Gold V 391 Tembo Gold* O 33 Teranga Gold T 2105 Teranga Gold* O 62 Teras Res V 222 Teras Res* O 1 Terraco Gold V 383 Terrax Mnrls* O 61 Terrax Mnrls V 325 Terreno Res V 365 Teslin Rvr Res V 306 Tesoro Mnrls V 0 Tethyan Res V 19 Teuton Res* O 59 Teuton Res V 239 Texas Mineral* O 64 Themac Res V 88 Thor Expl V 17 Thunder Mtn Gd V 11 Thunder Mtn Gd* O 215 Thunderstruck V 694 Thunderstruck* O 130 Tiger Intl V 19 Till Capital V 1 Till Capital* D 14 Timberline Res* O 227 Timberline Res V 49 Timmins Gold* X 704 Timmins Gold T 628 Tinka Res V 1093 Tinka Res* O 1255 Tintina Mines V 11 Titan Mining T 58 Titanium Corp V 80 1 TMAC Resource* O TMAC Resources T 105 TNR Gold V 809 Toachi Mg Inc* O 3 Toachi Mg Inc V 579 Tolima Gold V 498 TomaGold V 414 Tombstone Expl* O 4881 O 79 Tonogold Res* Torex Gold* O 115 Torex Gold T 1541 Toron, Inc* O 9603 Torq Resources V 516 Torq Resources* O 218 Tower Res* O 50 Tower Res V 105 Transatlan Mng* O 1 Transatlan Mng V 332 Transition Mtl V 353 Treasury Metal T 553 O 124 Treasury Metal* Trecora Res* N 784 Trek Mining V 1906 Trek Mining* O 290 Tres-Or Res V 495 Trevali Mng* O 265 Trevali Mng T 12752 Tri Origin Exp V 1239 Trident Gold V 0 Trifecta Gold* O 5 Trifecta Gold V 6 Trigen Res* O 0 Trilogy Mtls T 30 Trilogy Mtls* X 516 TriMetals Mng* O 74 O 82 TriMetals Mng* TriMetals Mng T 328 Trinity Res* O 0 Trinity Valley V 28 Trio Resources* O 1347 TriStar Gold* O 142 TriStar Gold V 78 Triumph Gold V 197

0.00 0.00 0.00 - 0.00 0.00 0.00 0.09 0.08 0.09 - 0.01 0.20 0.08 0.04 0.03 0.04 unch 0.00 0.08 0.03 0.59 0.44 0.58 + 0.11 1.41 0.33 0.18 0.14 0.15 - 0.03 0.25 0.03 0.03 0.00 0.02 + 0.01 0.04 0.01 0.47 0.00 0.44 - 0.02 0.79 0.31 0.36 0.33 0.34 - 0.01 0.59 0.24 0.09 0.08 0.08 - 0.01 0.14 0.08 0.08 0.05 0.05 - 0.03 0.11 0.05 0.06 0.04 0.04 - 0.01 0.07 0.03 0.15 0.12 0.15 - 0.01 0.20 0.07 0.09 0.07 0.09 + 0.01 0.62 0.05 1.88 1.57 1.74 + 0.08 2.98 1.36 1.46 1.22 1.37 + 0.09 2.46 1.00 37.17 33.69 33.83 - 2.57 38.89 19.27 37.10 33.76 33.76 - 2.34 38.90 20.00 28.81 26.25 26.44 - 1.83 30.80 14.56 0.63 0.56 0.56 - 0.04 0.72 0.19 0.79 0.72 0.74 - 0.06 0.89 0.28 0.04 0.03 0.03 - 0.01 0.05 0.01 0.03 0.03 0.03 unch 0.00 0.04 0.01 4.04 3.66 3.93 + 0.16 4.75 2.36 3.12 2.91 3.07 + 0.15 6.40 1.83 0.09 0.08 0.09 - 0.01 0.18 0.07 0.05 0.05 0.05 unch 0.00 0.13 0.06 0.09 0.08 0.09 + 0.01 0.16 0.08 0.39 0.34 0.34 - 0.03 0.59 0.30 0.50 0.43 0.43 - 0.04 0.78 0.38 0.06 0.00 0.04 - 0.02 0.18 0.03 0.46 0.44 0.45 + 0.01 0.76 0.39 0.00 0.00 0.11 unch 0.00 0.12 0.06 0.29 0.26 0.27 + 0.01 0.57 0.18 0.17 0.15 0.15 - 0.01 0.26 0.12 0.23 0.18 0.18 - 0.03 0.35 0.15 0.20 0.18 0.18 - 0.01 0.39 0.12 0.10 0.07 0.09 + 0.03 0.10 0.03 0.19 0.17 0.19 + 0.01 0.25 0.09 0.30 0.30 0.30 unch 0.00 0.32 0.12 0.22 0.15 0.22 + 0.04 0.30 0.08 0.09 0.07 0.07 - 0.01 0.14 0.05 0.07 0.05 0.05 - 0.02 0.10 0.04 0.08 0.08 0.08 unch 0.00 0.15 0.08 4.89 0.00 4.89 + 0.34 5.85 3.79 4.30 0.00 4.10 + 0.23 5.45 3.30 0.22 0.17 0.20 - 0.03 0.52 0.13 0.27 0.24 0.24 - 0.03 0.69 0.17 2.70 2.45 2.49 - 0.02 6.06 2.45 3.47 3.18 3.20 - 0.03 7.99 3.14 0.57 0.50 0.51 + 0.01 0.87 0.42 0.44 0.39 0.39 + 0.00 0.75 0.31 0.06 0.06 0.06 unch 0.00 0.09 0.04 1.42 1.25 1.40 + 0.03 1.65 0.92 1.06 1.00 1.03 - 0.02 1.50 0.60 7.17 0.00 7.17 + 0.51 12.76 5.45 9.73 8.55 9.03 - 0.46 17.19 6.90 0.05 0.03 0.04 + 0.01 0.09 0.03 0.13 0.13 0.13 unch 0.00 0.35 0.11 0.16 0.15 0.15 unch 0.00 0.50 0.15 0.02 0.02 0.02 + 0.01 0.06 0.01 0.06 0.06 0.06 unch 0.00 0.12 0.06 0.01 0.00 0.00 + 0.00 0.01 0.00 0.19 0.13 0.13 - 0.04 0.40 0.03 7.60 7.00 7.12 - 0.07 21.28 7.00 9.86 9.06 9.16 - 0.12 28.32 9.06 0.01 0.01 0.01 - 0.00 0.02 0.00 0.64 0.58 0.64 + 0.02 0.90 0.43 0.50 0.45 0.50 + 0.02 1.10 0.35 0.09 0.09 0.09 + 0.00 0.24 0.08 0.13 0.11 0.13 + 0.02 0.34 0.10 0.04 0.04 0.04 unch 0.00 0.08 0.04 0.06 0.05 0.06 + 0.01 0.45 0.04 0.20 0.14 0.15 + 0.01 0.22 0.12 0.57 0.52 0.56 + 0.02 0.90 0.50 0.44 0.40 0.44 + 0.01 0.67 0.30 13.75 10.25 13.70 + 2.90 14.30 10.13 1.18 1.11 1.18 + 0.03 1.80 0.88 0.92 0.86 0.92 + 0.02 1.49 0.69 0.05 0.05 0.05 + 0.01 0.07 0.03 1.11 1.03 1.10 - 0.03 1.37 0.76 1.45 1.31 1.42 - 0.05 1.75 1.03 0.03 0.02 0.02 - 0.01 0.06 0.03 0.00 0.00 0.17 unch 0.00 0.22 0.12 0.09 0.09 0.09 + 0.01 0.20 0.07 0.12 0.11 0.12 + 0.01 0.40 0.10 0.00 0.00 0.06 unch 0.00 0.12 0.04 2.00 1.77 1.85 unch 0.00 2.03 0.60 1.52 1.38 1.45 + 0.02 1.64 0.45 0.18 0.14 0.18 - 0.00 0.20 0.11 0.14 0.12 0.14 + 0.01 0.22 0.09 0.18 0.16 0.18 + 0.02 0.29 0.12 0.00 0.00 0.01 unch 0.00 0.16 0.01 0.11 0.00 0.11 + 0.01 0.18 0.08 0.00 0.00 0.00 - 0.00 0.00 0.00 0.18 0.17 0.18 - 0.00 0.32 0.13 0.24 0.22 0.24 unch 0.00 0.41 0.18 0.33 0.29 0.33 + 0.03 0.57 0.25

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Triumph Gold* O 75 Troilus Gold V 155 Troilus Gold* O 1 Troy Enrgy V 356 Troy Res* O 104 Troymet Expl V 1378 80 True Grit Res V True North Gem V 295 Trueclaim Expl V 20 Tsodilo Res V 30 Tudor Gold V 113 5 Tudor Gold * O Tungsten Corp* O 1 18160 Turquoise HIl* N Turquoise HIl T 8262 TVI Pacific V 380 TVI Pacific* O 59 Tyhee Gold* O 158 Typhoon Expl V 84

0.24 0.22 0.23 - 0.01 0.46 0.20 2.00 1.93 1.93 - 0.07 2.25 0.22 1.48 0.00 1.48 - 0.08 1.59 0.88 0.09 0.06 0.09 + 0.03 0.15 0.03 0.08 0.07 0.07 - 0.02 0.13 0.05 0.01 0.01 0.01 - 0.01 0.03 0.01 0.06 0.00 0.06 + 0.01 0.07 0.02 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.13 0.13 0.13 unch 0.00 0.35 0.07 0.60 0.00 0.54 - 0.04 0.99 0.52 0.48 0.43 0.45 + 0.02 0.94 0.37 0.33 0.33 0.33 unch 0.00 0.71 0.31 0.00 0.00 0.00 - 0.00 0.00 0.00 3.28 3.05 3.27 + 0.13 3.59 2.44 4.24 3.97 4.17 + 0.12 4.52 3.25 0.02 0.01 0.01 - 0.01 0.02 0.01 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.08 0.08 0.08 - 0.01 0.12 0.04

U.S. Lithium* O 1713 U3O8 Corp* O 30 U3O8 Corp T 26 UC Res* O 1 Ucore Rare Mtl V 940 Ucore Rare Mtl* O 930 UEX Corp T 2070 Ultra Lithium* O 107 Ultra Lithium V 90 Umbral Enrgy* O 155 Unigold* O 32 Unigold V 114 United Lithium 5 United Res Hdg* O 223 United Silver* O 174 United States A* X 301 United States S* N 91538 Unity Energy V 5 Universal Vent V 223 V 91 Upper Canyon Ur-Energy T 154 Ur-Energy* X 1310 Uracan Res V 1181 Uracan Res* O 52 Uragold Bay Rs V 1951 Uranium Energy* X 3929 Uranium Hunter* O 2 Uranium Res* D 543 Uravan Mnrls V 250 URZ Energy V 84 URZ Energy* O 103 US Cobalt V 4014 US Cobalt * O 1124 US Energy* D 114 US Precious M* O 536 USCorp* O 56 Vale* N 103896 Valencia Vent* O 0 ValGold Res V 151 Valley High Mg* O 4514 Valterra Res V 265 Valterra Res* O 59 Vanadium One V 428 V 799 Vanadiumcorp Vanadiumcorp* O 301 Vangold Res* O 152 Vangold Res V 628 Vanstar Mng Rs V 99 Vantex Res V 74 Vatic Vent V 356 Vedanta* N 2939 Vela Minerals V 2 O 36 Velocity Mnrls* Velocity Mnrls V 341 Vendetta Mng* O 173 Vendetta Mng V 821 V 11 Venerable Vent Venture Mnrls* O 16 Verde Potash T 760 Verde Res* O 3 Veris Gold* O 9 Victoria Gold V 7769 Victory Nickel 214 Victory Nickel* O 75 Victory Res V 54 Victory Res* O 0 Victory Vent* O 4 Victory Vent V 1028 O 29 Virginia Enrgy* Virginia Enrgy V 114 Viscount Mng V 357 Visible Gold M V 46 50 Visible Gold M* O Vista Gold T 33 Vista Gold* X 1049

0.03 0.02 0.03 - 0.00 0.07 0.02 0.30 0.26 0.27 - 0.00 0.49 0.18 0.38 0.33 0.34 unch 0.00 0.80 0.21 0.00 0.00 0.00 - 0.00 0.01 0.01 0.24 0.21 0.23 + 0.03 0.33 0.18 0.19 0.15 0.17 + 0.02 0.26 0.14 0.35 0.27 0.29 - 0.05 0.41 0.15 0.22 0.22 0.22 unch 0.00 0.63 0.11 0.31 0.28 0.28 + 0.01 0.80 0.14 0.44 0.39 0.41 + 0.00 0.64 0.03 0.15 0.14 0.15 unch 0.00 0.24 0.14 0.20 0.17 0.18 - 0.03 0.33 0.17 0.56 0.56 0.56 unch 0.00 0.56 0.40 0.04 0.02 0.04 + 0.00 0.07 0.00 0.00 0.00 0.00 - 0.00 0.01 0.00 0.30 0.26 0.29 + 0.01 0.52 0.20 47.36 42.32 43.69 - 1.70 47.64 18.55 0.14 0.14 0.14 - 0.02 0.24 0.10 0.38 0.34 0.37 - 0.01 0.50 0.33 0.24 0.23 0.23 + 0.01 0.34 0.03 0.88 0.82 0.82 - 0.03 1.07 0.62 0.69 0.63 0.65 - 0.02 0.80 0.50 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.02 0.00 0.02 + 0.00 0.09 0.01 0.12 0.10 0.12 + 0.01 0.25 0.08 1.40 1.30 1.40 + 0.02 2.00 0.96 1.45 0.00 1.45 + 0.25 3.00 0.94 0.86 0.77 0.78 - 0.01 2.18 0.72 0.05 0.05 0.05 unch 0.00 0.16 0.04 0.42 0.35 0.37 - 0.05 0.79 0.20 0.33 0.27 0.28 - 0.04 0.51 0.30 1.10 0.90 1.00 + 0.09 1.10 0.45 0.86 0.69 0.77 + 0.07 0.88 0.36 1.33 1.19 1.25 - 0.02 1.96 0.60 0.01 0.01 0.01 - 0.00 0.02 0.00 0.01 0.00 0.01 + 0.00 0.02 0.00 13.85 12.60 12.89 - 0.50 14.67 7.47 0.00 0.00 0.15 unch 0.00 0.15 0.06 0.09 0.07 0.07 - 0.02 0.09 0.03 0.01 0.01 0.01 - 0.00 0.04 0.00 0.03 0.02 0.03 unch 0.00 0.06 0.02 0.03 0.02 0.02 - 0.00 0.05 0.01 0.07 0.06 0.06 - 0.01 0.17 0.06 0.13 0.11 0.12 - 0.01 0.18 0.05 0.10 0.08 0.10 + 0.00 0.14 0.04 0.12 0.10 0.12 - 0.02 1.38 0.05 0.17 0.13 0.15 - 0.04 0.25 0.06 0.10 0.08 0.08 - 0.01 0.15 0.06 0.08 0.07 0.08 + 0.01 0.24 0.05 0.06 0.05 0.05 - 0.01 0.09 0.04 19.70 18.86 19.23 - 0.45 21.99 13.78 0.00 0.00 0.23 unch 0.00 0.54 0.18 0.18 0.00 0.18 + 0.00 0.35 0.12 0.25 0.20 0.20 - 0.02 0.47 0.15 0.17 0.16 0.17 + 0.01 0.27 0.14 0.22 0.20 0.21 + 0.01 0.35 0.19 0.10 0.10 0.10 unch 0.00 0.18 0.09 0.03 0.03 0.03 + 0.00 0.04 0.02 1.12 0.54 0.90 + 0.36 1.77 0.39 0.02 0.02 0.02 unch 0.00 0.20 0.01 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.44 0.36 0.42 + 0.02 0.74 0.36 0.06 0.05 0.05 unch 0.00 0.08 0.03 0.05 0.05 0.05 unch 0.00 0.06 0.00 0.43 0.36 0.36 - 0.07 0.75 0.13 0.00 0.00 0.14 unch 0.00 0.50 0.13 0.17 0.14 0.14 - 0.03 0.24 0.06 0.20 0.14 0.19 + 0.02 0.46 0.06 0.08 0.07 0.07 - 0.01 0.15 0.04 0.10 0.10 0.10 - 0.01 0.23 0.07 0.36 0.32 0.33 - 0.02 0.53 0.22 0.14 0.12 0.13 - 0.01 0.30 0.09 0.09 0.09 0.09 unch 0.00 0.15 0.04 1.03 0.95 0.96 - 0.04 1.46 0.77 0.81 0.71 0.76 + 0.00 1.11 0.60

U-V

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Viva Gold V 11 Volcanic Gold V 404 Voltaic Min V 69 Voyageur Min V 260 VR Resources* O 80 VR Resources V 220 Vulcan Mnrls V 93 VVC Expl V 5435

0.40 0.35 0.35 - 0.05 0.69 0.29 0.24 0.19 0.20 - 0.01 0.65 0.19 0.25 0.21 0.25 + 0.04 1.55 0.18 0.08 0.08 0.08 + 0.01 0.15 0.04 0.21 0.21 0.21 unch 0.00 0.27 0.21 0.29 0.23 0.23 - 0.01 0.41 0.21 0.05 0.04 0.04 - 0.01 0.08 0.04 0.05 0.04 0.04 unch 0.00 0.07 0.02

Walker River* O 62 Walker River V 209 T 636 Wallbridge Mng War Eagle Mg V 505 Waseco Res V 142 Wealth Mnrls V 1472 Wealth Mnrls* O 866 O 0 Wescan Gldflds* Wescan Gldflds V 26 O 197 Wesdome Gold* Wesdome Gold T 1059 25 West Af Res V West High Yld V 28 West Kirkland V 318 West Kirkland * O 82 West Red Lake 130 11 West Red Lake* O Westcot Vent V 31 O 1 Western Areas* Western Copper T 178 X 273 Western Copper* Western Pac Rs V 273 Western Pac Rs* O 14 Western Potash T 24 Western Res* O 1 Western Troy C V 85 Western Uran 74 Western Uran* O 108 V 151 Westhaven Vent Westhaven Vent* O 34 O 114 Westkam Gold* Westkam Gold V 3333 Westminster Rs V 602 Westminster Rs* O 91 Westmoreland* D 4226 WestMountain* O 0 Whistler Gold V 33 White Energy* O 2 White Gold* O 62 White Gold V 127 White Metal R* O 385 White Metal Rs V 355 White Mtn Engy* O 50 Whitehaven Coa* O 2 Whitemud Res V 5 Wincash Apolo* O 115 Winston Gold 1143 Winston Gold* O 1163 Wolfden Res* O 165 Wolfden Res V 1304 Wolfeye Res V 247 Wolverine Mnls* O 1 Wolverine Mnls V 20 WPC Res V 1210 X-Terra Res* O 58 X-Terra Res V 262 Xander Res V 550 Xiana Mng* O 7 Xiana Mng V 17 Ximen Mng V 84 Ximen Mng* O 15 XLI Tech Inc* O 390 Xtierra V 437 Xtra-Gold Res T 216 Xtra-Gold Res* O 35 12908 Yamana Gold T Yamana Gold* N 69040 Yellowhead Mng* O 2 Yellowhead Mng V 6 Yorbeau Res T 958 You Han Data* O 1 25 Zadar Vent * O Zadar Vent V 903 Zara Res 10 Zara Res* O 183 Zena Mng V 23 Zenyatta Vent* O 5 Zenyatta Vent V 74 Zephyr Mnls* O 25 Zephyr Mnls V 50 Zimtu Capital V 103 Zinc One Res V 977 Zinc One Res * O 788 Zincore Mtls V 15 Zonte Mtls V 110

0.06 0.06 0.06 unch 0.00 0.08 0.06 0.07 0.07 0.07 unch 0.00 0.17 0.06 0.08 0.07 0.08 unch 0.00 0.15 0.06 0.19 0.16 0.17 - 0.02 0.22 0.04 0.05 0.05 0.05 unch 0.00 0.08 0.04 1.69 1.45 1.64 + 0.17 2.34 1.16 1.35 1.10 1.30 + 0.15 1.85 0.91 0.10 0.10 0.10 unch 0.00 0.10 0.04 0.07 0.07 0.07 - 0.01 0.12 0.05 1.46 1.34 1.36 - 0.06 3.22 0.00 1.89 1.71 1.73 - 0.12 4.40 1.64 0.40 0.00 0.40 + 0.01 0.50 0.19 0.40 0.35 0.36 + 0.01 3.80 0.24 0.07 0.07 0.07 - 0.01 0.10 0.06 0.06 0.05 0.05 - 0.01 0.07 0.04 0.11 0.09 0.10 - 0.01 0.25 0.08 0.08 0.00 0.08 - 0.00 0.20 0.06 0.90 0.72 0.84 + 0.04 1.09 0.04 2.33 2.33 2.33 unch 0.00 2.74 1.57 1.14 1.06 1.12 + 0.04 1.85 1.01 0.90 0.82 0.88 + 0.03 1.44 0.80 0.03 0.02 0.03 + 0.01 0.03 0.01 0.03 0.02 0.02 - 0.00 0.02 0.01 0.42 0.41 0.41 - 0.01 0.92 0.37 0.32 0.32 0.32 - 0.01 0.47 0.29 0.04 0.03 0.03 - 0.01 0.06 0.02 0.80 0.70 0.78 unch 0.00 2.05 0.54 0.61 0.54 0.60 - 0.01 1.51 0.44 0.14 0.11 0.14 + 0.02 0.17 0.07 0.10 0.10 0.10 unch 0.00 0.12 0.05 0.03 0.02 0.03 + 0.00 0.04 0.01 0.04 0.03 0.04 + 0.01 0.05 0.01 0.17 0.13 0.14 - 0.02 0.38 0.15 0.13 0.00 0.13 + 0.01 0.28 0.12 0.62 0.45 0.47 + 0.02 16.00 0.40 0.00 0.00 3.30 unch 0.00 17.50 1.15 0.08 0.08 0.08 unch 0.00 0.08 0.03 0.21 0.00 0.21 unch 0.00 0.30 0.12 0.70 0.56 0.56 + 0.04 1.73 0.50 0.91 0.72 0.73 + 0.05 2.34 0.65 0.09 0.07 0.08 + 0.01 0.17 0.05 0.11 0.09 0.09 - 0.01 0.24 0.03 0.00 0.00 0.00 - 0.00 0.01 0.00 3.40 3.30 3.40 + 0.10 3.95 1.83 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.05 0.00 0.05 unch 0.00 0.21 0.03 0.05 0.04 0.05 + 0.01 0.10 0.03 0.04 0.03 0.04 + 0.00 0.05 0.02 0.37 0.31 0.33 - 0.01 0.56 0.10 0.50 0.38 0.41 - 0.05 0.68 0.11 1.38 1.25 1.38 + 0.11 1.64 0.49 0.10 0.10 0.10 - 0.00 0.12 0.05 0.14 0.14 0.14 - 0.02 0.17 0.05 0.05 0.04 0.04 - 0.01 0.07 0.04 0.13 0.13 0.13 + 0.00 0.28 0.13 0.18 0.13 0.17 + 0.02 0.39 0.13 0.19 0.18 0.19 unch 0.00 0.42 0.15 0.42 0.36 0.39 unch 0.00 0.42 0.06 0.61 0.00 0.61 + 0.01 0.62 0.08 0.24 0.20 0.20 - 0.02 0.48 0.13 0.18 0.18 0.18 + 0.04 0.44 0.11 0.01 0.01 0.01 - 0.00 0.04 0.00 0.05 0.05 0.05 + 0.01 0.08 0.02 0.23 0.20 0.23 + 0.01 0.36 0.17 0.17 0.17 0.17 - 0.00 0.27 0.11 3.87 3.33 3.37 - 0.45 4.69 2.84 3.00 2.59 2.62 - 0.33 3.80 2.21 0.31 0.31 0.31 unch 0.00 0.50 0.31 0.45 0.00 0.44 - 0.01 1.08 0.38 0.04 0.04 0.04 unch 0.00 0.10 0.04 1.10 1.10 1.10 - 0.90 2.00 1.00 0.05 0.05 0.05 - 0.00 0.09 0.05 0.08 0.07 0.08 unch 0.00 0.13 0.07 0.24 0.00 0.24 unch 0.00 0.35 0.08 0.17 0.12 0.17 unch 0.00 0.18 0.12 0.09 0.09 0.09 unch 0.00 0.18 0.07 0.53 0.50 0.50 - 0.03 0.93 0.46 0.68 0.64 0.68 + 0.02 1.29 0.52 0.22 0.18 0.22 + 0.04 0.28 0.15 0.27 0.23 0.27 + 0.04 0.36 0.18 0.35 0.31 0.35 + 0.05 0.35 0.20 0.40 0.35 0.36 - 0.03 0.75 0.31 0.31 0.27 0.28 - 0.02 0.62 0.01 0.13 0.13 0.13 unch 0.00 0.35 0.06 0.23 0.19 0.21 unch 0.00 0.49 0.12

W-Z

BID-ASK — MARCH 5–9, 2018 African Metals Alba Minerals Alderon Iron* Allante Potash ALQ Gold Altan Nev Mnls Amador Gold Amanta Res Anglo Pac Grp Arch Coal* Arco Res Arcturus Vent Arian Res AsiaBaseMetals Astur Gold Atlatsa Res* Aurelius Min Austral Gold Banro Corp* BC Moly Bell Copper Bethpage Cap BHK Mining Black Bull Res Black Mam Mtls Boss Power BWR Explor Cairo Res Canada Cobalt Canada One Canadian Mng Canstar Res Cascade Res Cassius Vents Cava Res Centurion Mnls Chantrell Vent Chinapintza Mg Cicada Vents CIM Intl Grp Cliffs Nat Res* Clydesdale Res CNRP Mng Comet Inds Compass Gold Cons Woodjam CR Capital Cresval Cap Curlew Lke Res CWN M’g Acq Cyprium Mng Dawson Gold Eureka Res European Metal Eurotin Excalibur Res Fairmont Res Fieldex Expl Finore Mng Fire River Gol First Idaho First Legacy Freeport Res GAR Limited Gem Intl Res Genius Props Gentor Res GFM Res

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

20-23_MAR19_StockTables.indd 23

0.06 0.09 0.06 0.15 0.16 0.16 0.28 ... 0.40 0.14 0.52 0.11 ... 0.11 0.11 0.25 0.29 0.22 0.45 0.02 0.03 0.02 0.03 0.17 0.19 0.19 0.39 0.01 0.02 0.01 1.95 2.50 2.50 3.18 ... ... 0.58 0.06 0.08 0.06 0.79 0.14 0.19 0.14 0.25 0.01 0.02 0.01 0.24 0.28 0.28 0.45 0.06 0.08 0.08 0.10 ... ... 0.06 0.45 0.13 0.14 0.14 0.15 0.11 0.12 0.11 0.19 0.11 0.11 0.11 2.10 0.08 0.12 0.08 0.08 0.17 0.20 0.20 0.22 0.11 ... 0.11 0.14 0.02 0.02 0.02 0.03 0.10 0.18 0.10 0.15 0.11 0.15 0.12 0.25 0.17 0.20 0.17 0.07 0.08 0.07 0.10 0.36 0.95 0.34 0.45 0.39 0.40 0.40 0.55 0.13 0.15 0.15 0.52 0.31 0.33 0.33 0.79 0.06 0.07 0.06 0.20 0.02 0.04 0.02 0.04 0.07 0.04 0.07 0.21 0.26 0.21 0.35 0.03 0.03 0.03 0.09 0.06 0.09 0.06 0.11 0.01 0.05 0.01 0.02 0.02 0.03 0.02 0.03 0.19 0.30 0.19 0.79 1.45 3.20 1.43 7.17 0.08 0.13 0.12 0.15 0.71 0.76 0.76 8.00 2.95 3.40 2.95 3.20 0.40 0.50 0.50 0.80 0.06 0.07 0.06 0.09 0.10 0.13 0.10 0.13 0.04 0.05 0.05 0.06 1.25 1.38 1.38 1.49 0.10 0.15 0.20 0.25 0.03 0.03 0.03 0.15 0.34 0.30 0.30 0.03 0.03 0.03 0.12 ... 0.01 0.01 0.07 0.08 0.07 0.12 0.09 0.10 0.10 0.11 0.02 0.03 0.02 0.13 0.18 0.19 0.19 0.21 0.12 0.12 0.11 0.36 0.03 0.07 0.09 0.06 0.25 0.06 0.06 0.18 0.27 0.18 0.21 0.05 0.07 0.05 0.08 0.11 0.21 0.11 0.13 0.01 0.02 0.02 0.10 0.15 0.16 0.16 0.25 0.10 0.14 0.09 0.20 0.08 0.10 0.10 0.10

0.04 0.12 0.05 0.05 0.01 0.13 1.31 0.03 0.07 0.19 0.01 0.06 0.03 0.10 0.10 0.04 0.03 0.07 0.02 0.06 0.06 0.04 0.21 0.15 0.08 0.10 0.04 0.03 0.15 0.03 0.06 0.01 0.01 0.08 0.98 0.04 0.18 2.50 0.50 0.04 0.07 0.04 0.10 0.13 0.12 0.02 0.04 0.01 0.02 0.12 0.17 0.05 0.18 0.03 0.04 0.01 0.12 0.07 0.01

Global Cobalt V Global Cop Grp V God’s Lake Res C Golden Harp V GoldTrain Res C Gray Rock Res V V Great Lakes Gr Greatbanks Res V Grenville Gold V Grosvenor Res V Hadley Mng C V Halio Energy HFX Holding V Highbury Proj V Highvista Gold V Highway 50 Gld V Icon Explor V Indigo Expl V Infinite Lith V Inform Res V Interconnect V Intl Battery C Intl Corona V V Iron South Mng Jazz Res V Jiulian Res V Jubilee Gold V Kenna Res V Lamelee Iron V V Le Mare Gold Leo Res C Lithion Energy V Logan Res V V Lomiko Mtls Lovitt Res V Madeira Mrnls V MAG Silver* X Malbex Res V Martina Mnls V Masuparia Gold V Matachewan Con V Match Capital V Mega Copper V Mesa Expl V Metalo Manuf C Metron Capital V Midasco Cap V Midnight Star C MillenMin Vent V Millstream Min V Milner Con Slv V Minecorp Egy V Mineral Hill V Mkango Res V Moag Copper C Montana Gold C Mukuba Res V MX Gold V Napier Vent V Navy Res V Nebu Res V New Dimen Res V New Klondike V North Am Ptash V Northern Uran V NQ Explor V NSGold V Opus One Res V

0.02 0.02 0.02 0.07 0.08 0.08 0.11 0.22 0.35 0.35 0.35 0.06 0.17 0.07 0.24 0.08 0.37 0.08 0.19 0.20 0.21 0.21 0.57 0.05 0.05 0.05 0.10 0.03 0.05 0.03 0.08 0.10 0.08 0.14 0.17 0.27 0.17 0.21 0.95 0.98 0.95 1.05 0.15 0.18 0.18 1.10 0.08 ... 0.12 0.12 0.22 0.35 0.25 0.35 ... 0.16 0.17 0.30 0.34 0.30 0.66 0.46 0.46 0.41 0.84 0.03 0.04 0.03 0.06 0.26 0.29 0.28 0.32 0.16 0.24 0.16 0.39 0.09 0.30 0.09 0.09 ... ... 0.31 0.40 0.05 0.06 0.05 0.12 0.24 0.27 0.24 0.28 0.08 0.11 0.08 0.09 0.03 0.09 0.04 0.06 0.44 0.55 0.54 0.73 0.13 0.16 0.15 0.42 0.48 0.48 0.48 0.17 0.17 0.17 3.80 1.06 1.09 1.09 2.50 ... ... 0.10 0.10 0.06 0.06 0.06 0.10 0.12 0.12 0.12 0.31 0.03 0.08 0.08 0.10 0.05 0.14 0.05 0.05 12.52 13.30 12.52 14.40 0.38 0.40 0.39 0.40 0.04 0.07 0.04 0.07 0.08 0.11 0.11 0.15 0.24 0.29 0.25 0.34 0.01 0.04 0.04 0.17 0.26 0.17 0.17 0.04 0.05 0.05 0.10 0.30 0.45 0.45 1.00 0.05 0.25 0.05 0.05 0.08 0.15 0.08 0.11 0.20 0.25 0.20 0.25 0.05 0.07 0.05 0.04 0.06 0.04 0.06 0.12 0.07 0.09 ... ... 0.12 0.20 0.20 0.25 0.23 0.34 0.14 0.19 0.14 0.24 ... ... 0.08 0.09 0.10 0.10 0.10 0.23 0.23 0.23 0.25 0.11 0.11 0.11 0.22 0.45 0.49 0.45 0.54 0.24 0.43 0.32 0.32 0.04 0.04 0.04 0.05 0.06 0.06 0.06 0.16 0.01 0.01 0.01 0.05 0.08 0.04 0.01 0.02 0.02 0.03 0.01 0.01 0.01 0.02 0.10 0.12 0.11 0.16 0.06 0.09 0.08 0.15

0.04 0.03 0.01 0.06 0.15 0.03 0.08 0.16 0.74 0.15 0.04 0.22 0.25 0.03 0.02 0.12 0.07 0.05 0.22 0.03 0.04 0.06 0.02 0.35 0.15 0.17 0.55 0.05 0.04 0.09 0.02 0.02 6.12 0.30 0.02 0.05 0.21 0.16 0.04 0.23 0.05 0.05 0.08 0.04 0.07 0.17 0.04 0.02 0.06 0.08 0.33 0.16 0.01 0.04 0.01 0.01 0.02 0.06

Oriental Non F Orofino Mnrls Pac Arc Res Pac Cascade Pac Link Mng Paget Mrnls Parana Copper Parlane Res Pershing Gold Phoenix Gold Phoenix Metals Plata Latina Plate Res Prime Meridian Prism Res ProAm Expl Quantum Cobalt Rare Element* Razore Rock Res Red Moon Res Red Tiger Mng Rhyolite Res Riley Resource River Wild Exp Rockex Mng Rockland Mnls Rockridge Gold Rojo Res Romulus Res Roughrider Exp Rubicon Mnrls* Scavo Res SGX Res Silver Phoenix Sniper Res Stockport Expl Stone Ridge Ex Talmora Diamd Tearlach Res Telferscot Res Tesoro Mnrls Theia Res Thunder Mtn Gd Tiger Intl Tiller Res Tintina Mines Tri-River Vent Trident Gold Trueclaim Expl UC Res United Coal Vale* Valencia Vent Vanadium One Vatic Vent Vela Minerals Wabi Explor Westridge Res Whistler Gold Whitemud Res Winston Res Worldwide Res Xander Res Zena Mng Zinco Mng Zincore Mtls

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

0.70 ... 1.05 1.05 0.14 0.19 0.14 0.19 0.53 0.75 0.70 0.82 0.01 0.02 0.01 0.03 0.07 0.03 0.07 0.04 0.07 0.04 0.08 0.35 0.45 0.35 0.36 0.16 0.19 0.16 0.18 2.69 2.89 2.80 4.15 ... 0.01 0.01 0.19 0.20 0.21 0.04 0.05 0.05 0.05 0.06 0.08 0.06 0.08 0.12 0.15 0.14 0.09 0.10 0.10 0.21 0.02 0.03 0.03 0.06 ... ... 1.10 3.15 0.11 0.16 0.15 0.89 0.12 0.16 0.16 0.90 0.05 0.05 0.05 0.08 0.02 0.03 0.03 0.04 0.29 0.35 0.29 0.40 0.11 0.75 0.11 0.20 0.15 0.50 0.15 0.22 0.03 0.04 0.04 0.05 0.07 0.08 0.08 0.11 0.22 0.37 0.30 0.50 0.40 0.49 0.40 0.50 0.15 0.23 0.19 0.20 0.04 0.05 0.04 0.12 ... ... 0.03 1.35 0.36 0.57 0.36 0.54 0.02 0.02 0.02 0.07 0.19 0.07 0.24 0.01 0.01 0.01 0.02 0.03 0.03 0.04 0.30 0.33 0.30 0.60 0.02 0.05 0.05 0.05 0.08 0.15 0.08 0.05 0.06 0.06 0.12 0.08 0.10 0.11 0.12 0.07 0.08 0.08 0.12 0.14 ... 0.30 0.32 0.08 0.32 0.08 0.15 0.37 0.44 0.37 0.65 0.06 0.09 0.06 0.09 0.04 0.12 0.04 0.17 0.24 0.17 0.22 0.13 0.16 0.13 0.35 0.01 0.02 0.02 0.03 ... 0.01 0.01 ... ... 10.24 11.10 0.21 0.22 0.22 0.30 0.13 0.15 0.13 0.07 0.08 0.09 0.09 0.20 0.24 0.23 0.54 0.08 0.09 0.09 0.09 0.59 0.59 0.60 0.80 0.07 0.10 0.08 0.08 0.01 0.02 0.01 0.02 0.56 0.58 0.56 0.82 0.03 0.05 0.03 0.09 0.15 0.19 0.19 0.42 0.09 0.13 0.09 0.18 0.05 0.07 0.05 0.13 0.20 0.13 0.35

0.72 0.06 0.09 0.02 0.03 0.09 0.10 2.63 0.03 0.04 0.08 0.02 0.20 0.06 0.09 0.03 0.02 0.17 0.11 0.02 0.01 0.01 0.30 0.23 0.13 0.04 0.03 0.26 0.05 0.02 0.06 0.01 0.01 0.06 0.07 0.12 0.08 0.19 0.04 0.12 0.07 0.01 6.57 0.08 0.04 0.18 0.05 0.29 0.03 0.01 0.55 0.01 0.15 0.07 0.06

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