The Northern Miner May 14 2018 Issue by The Northern Miner Group

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Harte Gold approaches commercial production ONTARIO

| Signs impact benefit agreement with First Nations

Detour Gold slammed by revised mine plan GOLD

| Preliminary cost review will be ready in June BY TRISH SAYWELL tsaywell@northernminer.com

hares of Detour Gold (TSX: DGC) plunged 30% after the company forecast life-of-mine costs could rise at its Detour Lake open-pit gold mine in Ontario, 300 km northeast of Timmins. The preliminary cost review — which will be ready in June — puts life-of-mine (2018–2040) cash costs at US$810 to US$850 per oz., up from US$747 per oz. envisioned in the 2017 mine plan. The new mine plan also delays development of the north pit to 2026, which defers 150,000 oz. gold to beyond the 2019–2023 time frame. To balance out near-term production, the revised mine plan calls See DETOUR / 2

Harte Gold’s Sugar Zone gold project in northern Ontario. HARTE GOLD BY TRISH SAYWELL tsaywell@northernminer.com

arte Gold (TSX: HRT; US-OTC: HRTFF) is fully funded to finish building its Sugar Zone mine project in northern Ontario — 80 km east of the Hemlo gold camp — and plans to produce gold in July, with commercial production in the fourth quarter. The company arranged a US$70million debt package with Sprott Private Resource Lending and Ap-

pian Natural Resources Fund in early May. Sprott is providing a US$50million, senior-secured debt facility with a 20-month principal holiday and 13-month interest deferral, while Appian has committed to a six-month loan of US$20 million at a 9.5% interest rate. Harte can extend the term at an 11.5% interest rate. The financing “represents a fully funded solution, with enough liquidity to support ramp-up of our operations and cover any unfore-

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THE SUGAR ZONE UNDERGROUND MINE WILL OPERATE FOR 11 YEARS AND PRODUCE 904,000 OZ. GOLD. seen downturn in commodity prices, without having to approach the equity markets, or any other financing dilutive to shareholders,” Stephen Roman, Harte’s president and CEO, says in news release. At the end of March, $58 million remained for the year to finish the process plant, continue underground development and expand working capital. Once finished, the Sugar Zone underground mine will operate for 11 years and produce 904,000 oz. gold — or an average 80,700 oz. gold a year — at US$507 per oz. gold cash costs and US$708 per oz. gold all-in sustaining costs. According to a preliminary economic assessment (PEA) released on May 3 — the same day news of the financing package broke — the mine would see a three-phase ramp up in production. In the first phase, the mine would run at 540 tonnes per day,

PM40069240

producing 54,500 oz. gold in 2018 and 2019. (Initial operations can operate at this rate.) The rate rises to 800 tonnes per day in phase two, starting in 2020, and to 1,400 tonnes per day in phase three, starting in 2021. By the third phase, the mine would produce 100,000 oz. gold annually. The study outlines a $189-million, post-tax net present value (NPV) at a 5% discount rate and US$1,150 per oz. gold price. At US$1,350 per oz. gold, the NPV rises to $299 million. The post-tax internal rate of return at the same discount rate is 34% at US$1,150 per oz. gold and 50% at US$1,350 per oz. gold. The mine plan was based on two-thirds of the project’s total resources (534,000 oz. gold was excluded from the PEA because of drill density and lower-grade See HARTE / 16

RUBICON MINERALS: PHOENIX GOLD RESOURCE GROWS / 3

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MAY 14–27, 2018 / THE NORTHERN MINER

The mill at Detour Gold’s Detour Lake gold mine, 300 km north of Timmins, Ontario. PHOTO BY THE NORTHERN MINER

Detour Gold slammed by revised mine plan See DETOUR / 2

for an increase of 50,000 oz. gold per year from 2019–2020 (brought forward from the 2021–2022 time frame envisioned in the March 2017 mine plan). This could “smooth” projected gold production over the 2019–2023 period to an average 600,000 oz., lowering the variation in production under the 2017 LOM plan. The company also negatively revised its 2018 guidance to reflect the mine sequencing changes and projected lower mill throughput, higher operating costs and more capital expenses. Free cash flow this year could reach US$55 million, which is down from US$115 million. This year the company expects gold production of 595,000–635,000 oz., down from the previous guidance of 600,000–650,000 oz. gold. Total cash costs could reach US$700 to US$750 per oz., up from US$670 to US$730 per oz., while all-in sustaining costs are expected to jump to US$1,200 to US$1,280 per oz., from the earlier guidance of US$1,050 to US$1,150 per oz. gold. The news, released after markets closed on April 26, sent Detour’s shares down 30%, or $4.35, to $10.05 the next day, with 7.6 million shares traded. On April 30, the company’s shares fell to $9.28, down 76.5¢, or 8%, with 4.6 million shares traded. Detour hit a 52-week low of $9.11 per share on May 1, but traded at $10.36 at press time on May 3. (The company’s 52week high was $18.88 per share in May 2017.) “I appreciate that we have changed or modified our mine plan numerous times in the past,” Paul Martin, Detour’s president and CEO, said on a conference call on April 27. “However, this has been the result of two things: The addition of West Detour in 2016 into reserves, and secondly, for permitting challenges related to the expanded footprint in 2017, and now in 2018. While the permitting challenges are frustrating, it is the reality of operating a large open pit in today’s world.” The deferral of the north pit development (and 150,000 oz. gold) to 2026 (development was previously

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“WHILE THE PERMITTING CHALLENGES ARE FRUSTRATING, IT IS THE REALITY OF OPERATING A LARGE OPEN PIT IN TODAY’S WORLD.” PAUL MARTIN PRESIDENT AND CEO, DETOUR GOLD

expected to start in 2019) was done “to reflect the reality that we still do not have full alignment with Moose Cree,” Martin said. “Simply said, we need a mine plan that reduces the risks associated with relying on obtaining required permits within a one- to three-year time frame. Otherwise, we risk further changes to the mine plan.” On a more positive note, the company has “modest” net debt of $108 million, Martin said, and Detour will continue to whittle it down, as it has over the past two years.

(In the first three months of 2018, Detour repaid $10 million of debt and ended the quarter with cash and equivalents of $152.5 million.) “There are no financing pressures, and the mine generates in excess of $1 billion over the next six years — so we expect no concerns from our banking syndicate, given our strong covenant performance.” Reactions from mining analysts varied. While Barry Allan of Laurentian Bank Securities kept his target price on the stock at $20 per share and argued that the market “assumed a worst-case scenario in the absence of detailed cost guidance, and has unduly penalized Detour’s shares,” other analysts were decidedly more negative. “The investor base has lost all confidence in management, and with modest free cash flow at current gold prices in the near-term and no real meaningful growth, most investors are exiting,” Kerry Smith of Haywood Securities said in a note to clients on April 30. “Given the inability over the past five years to achieve benchmark costs and

productivities, Detour no longer deserves a premium multiple.” Smith cut his price target on the stock from $26 per share to $15.50. Brian Quast of BMO Capital Markets lowered his target price on Detour’s shares from $26 to $15, while Farooq Hamed of Raymond James cut his from $20 to $16. “Looking past the production profile change, the preliminary guidance given on the revised mine plan suggests that the previous mine plan reflected optimistic operating parameters,” Hamed said in his note to clients, adding that given the decline in the stock price, “There may be a value or potential acquisition argument to be made. However, we believe uncertainty ahead of the full LOM release in June will continue to weigh on the stock.” Rahul Paul of Canaccord Genuity lowered his price target to $21, from $24 per share. “The company estimates a $0.8 billion to $1.5 billion reduction in pre-tax LOM cash flow” at US$1,300 per oz. gold, 1.25 C$/ US$,” the analyst notes in his report. “While indicating that further analysis with regards to LOM capital

and operating cost efficiencies is required, management doesn’t expect material changes to preliminary metrics released,” Paul said. “Most notably, the revised plan features 3% lower head grade, slightly lower recoveries, 5% lower production and around 10% higher costs, over the period.” In addition to breaking the news about its revised mine plan, Detour also reported first-quarter results. Despite lower mill throughput (mining rates averaged 250,000 tonnes per day, down from 2017, due to the loss of its rope shovel for 50 days and lower availability of the primary crusher) gold production reached 150,000 oz. on the back of record head grade of 1.17 grams gold per tonne. Total cash costs were US$744 per oz. gold and all-in sustaining costs came in at US$1,072 per oz. gold. Earnings from operations in the three months ended March 31 reached US$51 million and net earnings were US$9.9 million, or 6¢ per share. Adjusted net earnings were US$28.2 million, or 16¢ per share. TNM

Pit operations at the Detour Lake gold mine. DETOUR GOLD

2018-05-08 7:57 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 14–27, 2018

Rubicon adds to resource at Phoenix in Red Lake GOLD

| Company considers bulk underground mining

BY RICHARD QUARISA

rquarisa@northernminer.com

ubicon Minera ls (TSX : RMX; US-OTC: RBYCF) has boosted the measured and indicated resource by 113% and the inferred resource by 80% at its Phoenix gold project in Red Lake, Ont., after reinterpreting its geological model — a change which may support larger-scale underground mining. The updated resource incorporates another 23,500 metres of oriented drilling done in 2017 (out of a total 28,500 metres), as well as the relogging of 10,000 metres of historical core. The calculation includes 483,303 metres of drilling from February 2008 to November 2017. The project has 1.4 million measured and indicated tonnes grading 6.37 grams gold per tonne for 281,000 oz. gold, as well as 3.9 million inferred tonnes at 6 grams gold for 749,000 oz. gold — all at a 3 gram gold cut-off grade. The estimate does not, however, contain data from 5,000 metres of drilling done in late 2017. Rubicon says it will incorporate this data and more into an updated resource estimate in 2019. T he compa ny had f i rst i nterpreted its F2 deposit in 2013 via east-to-west surface drilling, perpendicular to the main mineralized zone. It completed a preliminary economic assessment, and, skipping the feasibility phase, was test mining by 2015. However, Rubicon soon had trouble reconciling grades. With the mine now built, the company decided to analyze the deposit from underground. “They took a look around and saw that, structurally, it’s a lot more complex than what they had modelled several years prior,” Rubicon president and CEO George Ogilvie says in an interview at the company’s downtown Toronto office. In June 2015, the company announced it poured first gold, but by year-end all underground and milling activities were suspended, and Rubicon’s share price plunged as grade reconciliation problems emerged. Ogilvie took over as CEO in December 2016 after Michael Lalonde stepped down in October 2015. Ogilvie was CEO of Kirkland Lake Gold (TSX: KL; US-OTC: KLGDF) from 2013 to 2016, and before that CEO of Rambler Metals and Mining (TSXV: R AB; LON: RMM) for over seven years.

“I’VE GOT SOME REAL SKIN IN THE GAME, WHICH I THINK IS IMPORTANT.” GEORGE OGILVIE CEO, RUBICON MINERALS

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Surface facilities at Rubicon Minerals’ Phoenix gold project in Ontario. RUBICON MINERALS

Inside the mill at the Phoenix project. RUBICON MINERALS

Drill core from Phoenix. RUBICON MINERALS

When Rubicon restructured, Ogilvie put $650,000 of his own money into the company at an average weighted price of $1.37 per share. “I want this thing to succeed as well,” Ogilvie says. “I’ve got some real skin in the game, which I think is important.” He says the company found cross-cutting structures running east to west. Because the surface drilling ran parallel to these structures, it missed them. At the time, the company didn’t know if they were regional events that went on for several kilometres, or localized within the high-titanium basalts. The company now knows these east-to-west veins are high grade, and anywhere from two to 20 metres wide, although with very little strike length. Thanks to oriented drilling, it also knows it has longer north-to-south veins and northwest-to-southeast veins. The company thought of its project as a Riedel shear system. Although Rubicon came up with the idea in late 2017, it would spend four months validating it through hard data coming out of the mine. “That was the prudent approach, given the history of Rubicon and the challenges that we’ve had,” Ogilvie says. The new interpretation shows better continuity than the compa-

and into commercial production, this company has got the opportunity to significantly increase the life-of-mine.” If it gets favourable drill results and can increase its resource, the company wants to undertake a feasibility study in the first half of 2019. Given the history of the project, Ogilvie says it is “absolutely important” to complete a feasibility study before progressing the project, to build trust with the company’s shareholders and potential investors. It has the cash to get to feasibility, but it would need more financing. “At the end of the year if the resource grows but it doesn’t grow

ny’s 2016 model — continuity that may allow for bulk underground mining methods, instead of the highly targeted approach the company had previously considered. The company aims to complete a 25,000- to 30,000-tonne bulk sample in mid-2018, which the company hopes will validate its current resource. This year, the company plans to infill drill another 20,000 metres at its main F2 gold deposit. At year-end it may drop holes into its McFinley zone, 600 metres from F2, on the other side of the existing shaft. The company has six other targets within 2 km of Phoenix, all potentially accessible from underground, but this will not become a priority until it has explored F2 and McFinley. The company also has what Ogilvie calls an “extensive” land package at Red Lake. It owns 200 sq. km of real estate, which is equal to 40% of all claims at Red Lake — second only to Goldcorp (TSX: G; NYSE: GG). In addition, 80% of those claims butt up against one another. “Our primar y goal is to get Phoenix moving back into comme rc i a l pr o duc t ion , but we shouldn’t forget about these other opportunities,” Ogilvie says. “If we can get Phoenix up and running here in the next two to three years

enough, we may make the decision not to do a feasibility study — but that doesn’t mean the project is dead,” Ogilvie says. “It could just be a function that we need to continue drilling because we need to get more measured and indicated resources. “If we want to justify refinancing the project and taking it to commercial production, we certainly want to make sure we’re doing things the proper way and dotting the i’s and crossing the t’s.” Shares of Rubicon are valued at $1.25, within a 52-week range of $1.13 to $1.88. The company has an $81-million market capitalization. TNM

JUNE 20 · COPPER MINE

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COPPER GIANT MINE ON 94 ACRES 6 PATENTED MINING CLAIMS

Located off Old HWY US-66 · Mohave County, Arizona • Patented claims include: Copper Giant, Dexter, Keystone, Keystone Extension, Victoria & Janie • 6,000 tons of extracted ore piles (crushed & dump rock) exist with an average 0.104 oz./ton gold & 1.1% copper – Schlottmann, J.D., “Preliminary report on feasibility of operation” - June 1998 • Geologist reports indicate an ore reserve of 121,000 tons grading 0.15 ounces / ton gold, 2.50% copper and 0.40 ounces / ton silver • Main shaft reported to be 900’ deep, 3 adits at various elevations • Not currently in production, reserves have not been processed but have been in the past

Located 140 miles from Las Vegas & 200 miles from Phoenix-Scottsdale

2018-05-08 7:57 PM

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E D I T O R IA L Former CEO, ex-con Blankenship attempts comeback in US Senate

O P- E D

US COAL

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| Massey Energy’s death toll of 29 at Upper Big Branch mine in 2010 not forgotten

t’s hard to figure out what the lessons are here, but the audacity and sheer political spectacle can’t go unremarked: the disgraced former CEO of Massey Energy, Don Blankenship, is attempting a major comeback in the public arena by launching a serious run to become a Republican U.S. Senator for West Virginia, having emerged from federal prison BY JOHN CUMMING only a year ago after a conviction related to a jcumming@northernminer.com 2010 explosion at a Massey coal mine in the state that killed 29 miners. Blankenship was convicted in 2015 by a federal jury in West Virginia of conspiracy to violate U.S. mine-safety laws in relation to the deadly explosion caused by a buildup of methane at the firm’s Upper Big Branch underground metallurgical coal mine in Montcoal, W. Va., 48 km south of Charleston. The conviction was unprecedented in U.S. mining history in that prosecutors targeted a high-ranking executive for workplace-related safety violations, though Blankenship was acquitted of the more serious charges of lying to regulators and investors regarding the accident. Indeed the conviction was for a misdemeanour with a maximum prison time of one year, which Blankenship served in full, followed by a one-year probation that just ended. Two former Massey managers at the Upper Big Branch mine also pleaded guilty to conspiring to violate safety laws, while a former security chief at the mine was convicted of lying to investigators and trying to destroy safety-related documents. All three served prison terms. The explosion at Upper Big Branch was the worst U.S. mine disaster since 1984, surpassing the 12 miners killed in 2006 at International Coal Group’s Sago coal mine in West Virginia — a more prominent accident in the U.S. public’s mind that prompted U.S. president at the time George W. Bush to sign the Miner Act of 2006 into law that June. It was the first major overhaul to mine-safety legislation in the U.S. since the 1977 passage of the Mine Safety and Health Act. In the years before the explosion, the Upper Big Branch mine had a history of safety violations, including improper ventilation. In 2009, federal inspectors had fined the company US$382,000 for repeated violations involving its ventilation plan and equipment — which are critical for safe underground coal mining. Many at the time speculated that some U.S. coal miners were merely incorporating the new act’s higher safety-violation fines into their business models, rather than directly remedying glaring safety deficiencies. Massey was bought out for US$7.1 billion in 2011 by Alpha Natural Resources, which filed for bankruptcy in 2015, as fortunes plummeted for the coal industry mid-decade. Blankenship — described in an extensive Rolling Stone profile in November 2010 as the “Dark Lord of coal country,” and the coal industry’s “dirtiest CEO” — has been a polarizing figure in the current Republican three-way primary election due to take place within hours after our press time on May 8, with the winner set to target the vulnerable U.S. Senate seat currently held by Democrat and former West Virginia governor Joe Manchin, who once said Blankenship “had blood on his hands” because of the disaster. Blankenship, inspired by Donald Trump’s outsider presidential run, says he is “Trumpier than Trump” and vows to “drain the swamp” in Washington. He has taken aim at Kentucky Republican Senator and Senate Leader Mitch McConnell, branding him “Cocaine Mitch,” and saying in an advertisement that “Swamp captain Mitch McConnell has created millions of jobs for China people. While doing so, Mitch has gotten rich. In fact, his China family has given him tens of millions of dollars” — an apparent reference to the family of his wife and current U.S. Transportation Secretary Elaine Chao, whose parents emigrated to the U.S. 60 years ago from Taiwan and founded a successful shipping company in New York. Trump has urged Republican voters in the state to reject Blankenship, while McConnell advisor Josh Holmes tweeted: “This clown is a walking, talking case study for the limitation of a prison’s ability to rehabilitate.” TNM

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

Goldsource Mines. . . . . . 11 Group Eleven Resources. . 6 Harte Gold . . . . . . . . . . . . . 1 Hunt Mining. . . . . . . . . . . 11 Kairos Metals. . . . . . . . . . . 9 Kirkland Lake Gold. . . . . . 3 Lara Exploration . . . . . . . 15 Lithium Chile. . . . . . . . . . . 9 Lithium Power International . . . . . . . . . . . . . . . . . 10 LSC Lithium. . . . . . . . . . . 11 Lundin Gold. . . . . . . . . . . 11

FACTS ‘N’ FIGURES

| Investment in bullion and ETFs down, while technology demand rises

The following is an edited summary from the World Gold Council, based on its Gold Demand Trends Q1 2018 report. To access the full report, visit www.gold.org.

old demand had a soft start to 2018, reaching 973 tonnes — the lowest first quarter since 2008. This largely came from a fall in investment demand for gold bars and goldbacked, exchange-traded funds (ETFs), as a subdued gold price environment hampered demand. Global jewellery demand came flat at 488 tonnes (15.69 million oz.), down 1% on first-quarter 2017. Demand in China was buoyed by holiday demand, and U.S. demand improved in response to the supportive economic backdrop. In contrast, Indian consumers were discouraged by rising gold prices, exaggerated by a weakening rupee, with demand down 12%, compared with 2017. China, Germany and the U.S. drove weakness in bar and coin investment: global demand was down 15% to 254.9 tonnes (8.2 million oz.). The range-bound gold price undermined investor interest in these markets, although China’s weakness partly owed to exceptional strength in first-quarter 2017. ETFs saw their fifth straight quarter of inflows. Holdings grew 32 tonnes (1.03 million oz.), due to growth in North America. Investment in the first quarter was mixed, with rising interest rates

CENTRAL BANKS ADDED 116 TONNES TO GLOBAL OFFICIAL RESERVES IN THE FIRST QUARTER. on the one hand, and a spike in stock-market volatility on the other. With gold prices relatively subdued, many investors lacked a clear signal. Central banks added 116 tonnes (3.7 million oz.) to global official reserves in first-quarter 2018. This was the highest first-quarter total in four years, and in line with average quarterly purchases since first-quarter 2010 of 115 tonnes. Russia, Turkey and Kazakhstan again dominated the list of central banks buying gold, adding 91 tonnes between them. Demand for gold in the technology sector improved, up 4% during last year’s first quarter. The wireless sector grew, with 3-D sensors for facial recognition increasingly used in smartphones, gaming consoles and security systems. The total supply of gold increased 3% in first-quarter 2018 to 1,064 tonnes (34.2 million oz.), due to more mine production and net hedging. Mine production and recycling levels saw fractional increases compared with firstquarter 2017, at 770 tonnes (24.8 million oz.) and 288 tonnes (9.3 million oz.), respectively.

THE Q1 REPORT’S KEY FINDINGS

• Total consumer demand fell 6% to 743 tonnes, from 790 tonnes in the same period last year. • Total investment demand was down 27% to 287 tonnes, compared with 394 tonnes in first-quarter 2017.

COMPANY INDEX Agnico Eagle Mines. . . . . 16 Avanco Resources. . . . . . 15 Bearing Lithium. . . . . . . . 10 Belo Sun Mining . . . . . . . 16 Boliden . . . . . . . . . . . . . . . . 6 Cabral Gold. . . . . . . . . . . 11 Connemara Mining. . . . . . 6 Detour Gold. . . . . . . . . . . . 1 Endeavour Mining. . . . . . 12 Equinox Gold. . . . . . . . . . . 9 Glencore . . . . . . . . . . . . . . . 6 Gold Fields. . . . . . . . . . . . 13

Gold Council: Demand off to a soft start in 2018

• Overall demand was 973 tonnes, a decrease of 7%, compared with 1,047 tonnes in first-quarter 2017.

DEPARTMENTS Editorial. . . . . . . . . . . . . . . . . . . . . . . . . . . . 4 Events. . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 Metal Prices. . . . . . . . . . . . . . . . . . . . . . . . 19

Gold bars in a storefront display at the Grand Bazaar in Istanbul. PHOTO BY JOEL CARILLET

Minera Apumayo. . . . . . . 15 Neo Lithium. . . . . . . . . . . 14 Rambler Metals and Mining. . . . . . . . . . . . . . . . . . . . . 3 Rubicon Minerals . . . . . . . 3 Sandstorm Gold. . . . . . . . 12 Sierra Metals. . . . . . . . . . . 14 Tahoe Resources . . . . . . . . 5 Teck Resources. . . . . . . . . . 6 Vale. . . . . . . . . . . . . . . . . . . 15 Vedanta. . . . . . . . . . . . . . . . 6

• Global jewellery demand fell 1% to 488 tonnes, from 492 tonnes in the same period in 2017. • Central bank demand grew 42% to 116 tonnes, compared with 82 tonnes in first-quarter 2017. • Demand in the technology sector increased 4% to 82 tonnes, compared with 79 tonnes in first-quarter 2017. • Total supply was up 3% to 1,064 tonnes, from 1,032 tonnes in the same period last year. • Recycling was virtually unchanged at 288 tonnes, compared with 287 tonnes in first-quarter 2017.

2018-05-08 7:57 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 14–27, 2018

Troubles keep dogging Tahoe in Guatemala, Peru SPILLS AND STRIKES BY TRISH SAYWELL

tsaywell@northernminer.com

oronto-listed shares of Tahoe Resources (TSX: THO; NYSE: TAHO) are worth half of what they were a year ago, and the company is facing challenges at assets in Central and South America. The latest trouble spot was a strike at its La Arena mine in northern Peru that began on April 22 and ended May 3. In addition, Tahoe reported a fuel spill last month at La Arena from one of its diesel storage tanks. Requests for comment were declined, but in a press release Tahoe noted that the striking union at La Arena represented 65% of the mine’s workforce, and, as a result, production was “not expected to be materially and adversely impacted.” Tahoe said the strike involved a disagreement over profit sharing, which is paid by all mines in Peru in strict accordance with the country’s labour law. “The company recently paid the workers its annual profit sharing, as defined by Peruvian labour law,” management reported in a news release. “However, the La Arena Union has indicated that they want to be compensated a higher amount of profit sharing than has been established in the labour law.” Tahoe recently resolved the strike and said the “concerns raised by the community of [Caserio La Arena] have also been addressed. “The discussions were completed independently with both groups, and it was agreed by all parties that operations at La Arena should resume as soon as possible, as this is in the best interest of all stakeholders,” the company said. The open-pit, heap-leach mine, 480 km northwest of Lima, produced 195,600 oz. gold last year at

| Company posts US$7M net loss in first quarter

“THE LA ARENA UNION HAS INDICATED THAT THEY WANT TO BE COMPENSATED A HIGHER AMOUNT OF PROFIT SHARING THAN HAS BEEN ESTABLISHED IN THE LABOUR LAW.” STATEMENT TAHOE RESOURCES

total cash costs of US$599 per oz. gold, net of by-product credits, and all-in sustaining costs (AISCs) of US$837 per oz., net of by-product credits. The fuel spill at La Arena reported on April 9 happened when a contractor overfilled one of the diesel storage tanks. Although the fuel spilled into the containment facilities, the containment drain valve had been left open by the fuel vendor due to continuing rains, and as a result between 300 and 500 gallons of diesel fuel left La Arena’s containment facilities, the company reported. Tahoe noted that it “successfully contained the spill through the construction of dams, the placement of absorbing materials, and disposed of the recovered fuel in accordance with legal requirements.” The incident was reported to the Agency for Environmental Assessment and Control and to the Supervisor of Investment in Energy and Mines. “The company immediately began conducting extensive inspections of the surrounding areas from the operation,” it said in a news release, and “initial inspections confirm that the spill was contained within our property and did not reveal any reported impact. However, we continue to monitor the situation closely.” La Arena is not the company’s only troubled operation.

In Guatemala, Tahoe’s flagship Escobal silver mine has been shut down since July 2017. A blockade of a municipal road 16 km away that leads to the mine is also a challenge for the company. In addition, the company’s annual export permit to ship metal concentrate from the mine has expired. The difficulties began in July 2017, when Guatemala’s Supreme Court suspended Escobal’s mining licence until it could hear an action brought by Calas, a non-governmental organization, against Guatemala’s Ministry of Energy and Mines (MEM). Calas alleged that MEM violated the Xinca Indigenous Peoples’ rights of consultation before a licence was granted to Tahoe’s flagship mine. The Supreme Court reinstated the mining licence in September 2017, but the court also ordered MEM to conduct consultations with the Xinca within a certain geographic area and report results of the meetings back to the court within a year. In October 2017, a helicopter carrying supplies to Escobal was attacked by small-arms fire from the ground and the pilot made an emergency landing, after a bullet pierced the tail of the aircraft near its rear rotor blade. The helicopter was being used to supply material for the company to keep its environmental mitigation commitments when the pilot was forced to make the emergency landing.

Ontario gov’t reaches resource revenue sharing deal FIRST NATIONS

| Agreement covers 39 First Nations and 17 active mines

BY DAVID PERRI

dperri@northernminer.com

he Ontario government and several First Nations in the province have reached an agreement that will see the province share revenues from mining and forestry projects with local First Nations. “Resource revenue sharing provides a sustained source of funding for First Nations that will be directed towards local community priorities,” Ontario’s Minister of Northern Development and Mines Michael Gravelle said. “These agreements are a positive step forward and an important part of Ontario’s journey of reconciliation with indigenous peoples.” The deal covers 39 of Ontario’s 133 First Nations communities, which will receive 40% of the tax and royalty revenues from local mines active at the time of signing, and 45% from future mines. They will also receive 45% of government revenues from forestry stumpage. The signatory First Nations were represented by Grand Council Treaty #3, Wabun Tribal Council and Mushkegowuk Council. “Resource revenue sharing is a step in the right direction towards

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CONTRIBUTING MINES • Bell Creek

• Hoyle Pond

• Red Lake

• Black Fox

• Island

• Taylor

• Detour Lake

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• Timmins West

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• Penhorwood

• Young-Davidson

• Holloway-Holt

• Rainy River

reconciliation. Our communities are continuing to take steps towards the long-term goals to achieve financial independence and sovereign wealth. We as communities can be ambitious in achieving our goals while retaining our position as the stewards of the land and the First Peoples of Turtle Island,” says Jason Gauthier, a lead negotiator for the Mushkegowuk Council and Chief of the Missanabie Cree First Nation. The agreement will see revenues diverted to First Nations from 17 of the 38 active mines in Ontario, according to the Ministry of Northern Development and Mines. The Prospectors & Developers Association of Canada (PDAC) has been lobbying governments in Canada to share mining revenues with First Nations. “These agreements help to support community

economic development, positive relationships and a positive investment climate,” the association says, adding it applauds the Ontario agreement. PDAC has done extensive research and lobbying for government resource revenue sharing (GRRS) in Canada. “Ontario’s agreement is similar to B.C. and Manitoba in that it is a non-treaty agreement, but the main difference is that it has committed to a set percentage for active mines and for new mines,” PDAC says. “In Yukon, the Northwest Territories, Nunavut, Quebec, and Newfoundland and Labrador, the GRRS mechanisms were developed within the context of land-claim agreements, which include prenegotiated formulas, and tend to cover a broader range of resources within the area defined by the landclaim agreement.” TNM

Workers at Tahoe Resources’ Escobal silver mine in Guatemala. The mine has been shut down since July 2017. There is a road blockade 16 km away. TAHOE RESOURCES

In March, the Constitutional Court of Guatemala asked for more information on the case, which Tahoe says includes: an anthropological study of the surrounding communities to establish the indigenous population in San Rafael las Flores and several surrounding communities; a third-party review of the Escobal environmental impact study and the study’s mitigation measures; and a third-party review of the MEM consultation process that led to the first mining licence in 2013. No material revenues have been recorded from Escobal since July 2017, and during the second half of the year, the company spent $24.9 million, or 8¢ per share, on care and maintenance. Despite the challenges in Guatemala during the second half of last year, the company reported earnings of $81.8 million in 2017, or 26¢ per share. Ron Clayton, Tahoe’s president and CEO, said at the time that he expected 2018 “will be a pivotal year for the company,” and management remained “optimistic that based on legal precedent, the Guatemalan Constitutional Court will issue a favourable ruling reinstating the Escobal mining licence.” At its Shahuindo mine — a shallow, open-pit, heap-leach operation, 30 km north of La Arena — the company expects to expand to 36,000 tonnes per day by the end of 2018. For the year, Tahoe expects Shahuindo will produce 80,000 to 110,000 oz. gold at cash costs of US$750 to US$800 per oz., net of by-product credits, and AISCs of US$1,050 to US$1,100 per oz., net of by-product credits. It forecasts La Arena will produce 160,000 to 180,000 oz. gold at cash costs of US$650 to US$700 per oz., and AISCs of US$950 to US$1,050. Its Timmins mine, which it acquired in April 2016, should produce 160,000 to 175,000 oz. gold this year at cash costs of US$800 to US$850

per oz., and AISCs of US$1,050 to US$1,150 per ounce. By 2019, Tahoe says, it should produce half a million ounces of gold a year, up from the 400,000 to 475,000 oz. it expects to produce in total this year. In the first quarter of 2018, Tahoe reported a net loss of US$6.9 million, or 2¢ per share, compared with earnings of US$74.7 million, or 24¢ per share, in the first quarter of 2017. It produced 90,900 oz. gold during the three months ended March 31 at total cash costs of US$793 per oz. and AISCs of US$1,158 per oz. gold. At press time, Tahoe’s shares were trading at $6.43 per share. The share price has ranged between a 52-week low of $4.75 (February 2018) and a 52-week high of $12.98 (May 2017). Matthew O’Keefe of Cantor Fitzgerald has a “buy” rating and a one-year price target of $8.60 per share. “Tahoe’s current resource base includes 403 million oz. silver and 5 million oz. gold, or over 10 million oz., on a gold-equivalent basis,” he said in a research note after the company released its first-quarter results, adding that the company also has more than 8 million oz. gold in exploration projects at its Timmins operations in Canada (the Timmins West mine and Bell Creek mill), and 5.1 million oz. gold and 5.8 billion lb. copper at its La Arena II porphyry project in Peru. “While Escobal makes up around 40% of our net asset value, or $3.10 per share, the market has largely discounted it from Tahoe’s valuation,” he notes. “We expect production at Escobal will resume later this year, returning much of that value to the stock price. As such, we see now as a good entry point to buy Tahoe stock.” Andrew Kaip of BMO Capital Markets has an “outperform” rating and a $8.50-per-share target price, while Geordie Mark of Haywood Securities has a “sell” rating and a $5.50-per-share target price. TNM

TRANSLATIONS For South / Central America

English < > Spanish Brochures, manuals, web-sites Proposals, tenders, correspondence

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2018-05-08 7:57 PM

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MAY 14–27, 2018 / THE NORTHERN MINER

A drill rig at Connemara Mining and Group Eleven Resources’ Stonepark zinc-lead project in County Limerick, Republic of Ireland. CONNEMARA MINING

Connemara tallies its first zinc resource in Ireland EXPLORATION BY TRISH SAYWELL

tsaywell@northernminer.com

he Republic of Ireland is one of the largest zinc producers in Europe and its base metal deposits have drawn some of the biggest names in the mining business — from Boliden and Glencore (LON: GLEN) to Teck Resources (TSX: TECK.B; NYSE: TECK) and Vedanta. Junior explorer Connemara Mining (LON: CON) and Group Eleven Resources (TSXV: ZNG) hope their Stonepark deposit in Limerick will one day join the island’s illustrious list of zinc deposits. The partners completed a resource estimate in April showing that, while still small, it is high grade, with an inferred resource of 5.3 million tonnes grading 8.55% zinc and 2.60% lead, or 11.5% zinc and lead combined. The resource is based on 88 diamond drill holes totalling 37,270 metres, and uses a cut-off grade of 4.5% zinc-equivalent. Stonepark is next to Glencore’s Pallas Green zinc project, one of the largest undeveloped zinc projects in the world. Pallas Green, 1 km east of Stonepark, has an inferred resource of 44.2 million tonnes grading 8.4% zinc and lead combined, or 7.2% zinc and 1.2% lead. The deposit occurs over an area of 4,000 metres by 4,000 metres and from 300 metres to 1,300 metres below surface. Patrick Cullen, Connemara’s president and CEO, says the orebodies at Stonepark and Pallas Green are contiguous and the centres of each deposit are 5 km apart. “They’re the same. They’re just different expressions of it, I suppose,” he says in a telephone interview from Ireland. “If Glencore were to develop a mine at Pallas Green

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| Outlines high-grade resource at Stonepark

“[STONEPARK] WOULD HAVE TO BE BIGGER BEFORE YOU START TALKING ABOUT A MINE ... BUT IT’S RELATIVELY SHALLOW.” PATRICK CULLEN PRESIDENT AND CEO, CONNEMARA MINING

then you could make a safe bet that something would have to happen at Stonepark. That would be a win for Connemara.” In terms of sca le, however, Stonepark “would have to be bigger before you start talking about a mine, but it’s open along strike, and it’s a fairly flat-lying deposit. It’s relatively shallow.” The deposit occurs at depths ranging from 190 metres to 395 metres and consists of flat-lying, stratiform (1- to more than 7.5-metre-thick) lenses of massive to semi-massive sphalerite, galena and pyrite hosted in 10- to 75-metre-thick hydrothermal alteration bodies (mostly black matrix breccia) within the Waulsortian limestone. Connemara and Teck jointly discovered Stonepark in 2007, and the resource estimate was based on drilling Teck completed between discovery and 2011. Group Eleven bought Teck’s stake in the project at the end of last year for $2.5 million. Teck has a 4.5% net smelter return royalty (NSR). (Group Eleven can buy back part of the NSR in incremental stages after delivering a preliminary economic assessment and a feasibility study.) Group Eleven owns 76.56% of the project, and Connemara the other 23.44%. Stonepark’s resource is contained in three main zones: Stonepark

Nor t h, Stone pa rk We s t a nd Stonepark. Most of the tonnage lies in the high-grade Stonepark North body, which has 4 million tonnes grading 11.95% zinc and lead (9.10% zinc and 2.86% lead), and lies 190 metres to 240 metres below surface. The partners restarted drilling to gain a better understanding of the structural controls of the mineralization, and Group Eleven wants to determine whether exploration success at Pallas Green can be replicated within the same limestone units in adjoining areas. The Limerick basin underlies Stonepark as well as Group Eleven’s contiguous PG West property. Cullen notes that Group Eleven was interested in buying Connemara’s stake in Stonepark when it bought Teck’s stake in the project, but Connemara didn’t want to sell. “We’ve been in zinc for a long time and it’s starting to bear fruit,” Cullen says. In addition to Stonepark, Connemara has a joint venture with Teck at its Oldcastle zinc project, 20 km northwest of the giant lead-zinc ore deposit at the Tara mine, operated by Boliden of Sweden. Teck is earning a 75% stake in the Oldcastle project. Ireland makes 25% of Europe’s total zinc production, and holds the Lisheen, Tara, Tynagh, Silvermines and Galmoy zinc deposits. TNM

Sphalerite mineralization in a core sample from the Stonepark zinc-lead project. CONNEMARA MINING

2018-05-08 7:57 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 14–27, 2018

Centerra rebuffs Chaarat’s $800M offer for Kumtor mine M&A

| Kumtor has produced more than 11.5 million oz. gold since 1997

BY TRISH SAYWELL

tsaywell@northernminer.com

efore Chaarat Gold (LON: CGH) launched an US$800million, cash-and-share proposal to acquire Centerra Gold’s (TSX: CG) Kumtor mine in Kyrgyzstan, very few North Americans had even heard of the junior mining company. But what Chaarat lacks in visibility on this side of the Atlantic, it makes up for with deep management roots in the mining business, hosting a board of directors that includes Artem Volynets, a Russian businessman who cut his teeth consolidating aluminum assets in Russia and parts of the former Soviet Union. Volynets, who joined Chaarat in March as a non-executive director, made a name for himself as the CEO of Russia’s En+ Group from December 2010 until June 2013, where he implemented strategies to make the group a global leader in mining, metallurgy and energy. Before the En+ Group, Volynets was senior vice-president of strategy at Siberian-Urals Aluminium Co. (Sual), and played a key role in the US$20-billion, three-way merger of Sual, Rusal and Glencore’s (LON: GLEN) aluminum assets to create UC Rusal, where he worked as deputy CEO and director for corporate strategy. Volynets also stick-handled UC Rusal’s US$2-billion initial public offering on the Hong Kong Stock Exchange. (En+ Group and Rusal are among a number of Russian companies caught up in the net of U.S. sanctions against Russia announced on April 6.) Volynets left the En+ Group five years ago and looked for opportunities in the gold sector, consolidating small, typically privately held gold companies in Russia and other countries in Central Asia that were once part of the Soviet Union, and where “there are no big gold companies similar to that in North America.” “The sector is very fragmented,” Volynets says in an interview from London. “The single-asset companies have anywhere from 30,000 oz. gold up to 600,000 oz. gold, and yet the sector is very profitable. It is profitable because the local currencies in places like Russia and Kyrgyzstan and Kazakhstan have all depreciated, and revenues are in U.S. dollars. Earnings before interest, taxes, depreciation and amortization margins are something like 50% or more.” Now Volynets wants to build “one of the leading emerging market gold companies,” and describes Chaarat’s pursuit of Centerra’s Kumtor mine as “only the tip of the iceberg.”

Trucks at Centerra Gold’s Kumtor gold mine in Kyrgyzstan. CENTERRA GOLD

“We want to be over 1 million oz. gold in two or three years,” he says. “The assets we’re currently considering are in two other countries — Russia, and one more. The company we want to build will have multiple assets across the countries

of the former Soviet Union.” But first, Chaarat must convince Centerra and its shareholders that they should part ways with Kumtor, a mine that represents 33% of Centerra’s net asset value. Centerra stated in an April 24

press release that it had “no interest” in the offer, and that “in recent meetings with the Kyrgyz Republic government, senior Kyrgyz Republic officials have confirmed to Centerra that the government is also not interested in pursuing the transaction

proposed by Chaarat.” Centerra declined a request for comment from The Northern Miner. Kumtor — the largest gold mine operated in Central Asia by a WestSee CENTERRA / 8

“WE WANT TO BE OVER 1 MILLION OZ. GOLD IN TWO OR THREE YEARS ... THE COMPANY WE WANT TO BUILD WILL HAVE MULTIPLE ASSETS ACROSS THE COUNTRIES OF THE FORMER SOVIET UNION.” ARTEM VOLYNETS NON-EXECUTIVE DIRECTOR, CHAARAT GOLD

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2018-05-08 7:57 PM

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MAY 14–27, 2018 / THE NORTHERN MINER

Centerra rebuffs Chaarat’s $800M offer for Kumtor mine CENTERRA From 7

ern mining company — has produced more than 11.5 million oz. gold since 1997. Last year, the mine — 350 km southeast of the capital, Bishkek, and 60 km north of Kyrgyzstan’s border with China — produced 562,749 oz. gold at all-in sustaining costs on a by-product basis of US$698 per oz. gold sold. It also generated US$188 million of free cash flow. Kumtor has more than 4 million oz. gold left in its open-pit reserves that can be extracted at a low cost, according to Chaarat, and another 3.4 million oz. gold grading 7.3 grams gold per tonne in the inferred resource category. Chaarat says it offers fair value for the mine. “Centerra’s market capitalization is currently $2.2 billion, implying that the market values Kumtor at approximately $740 million,” Volynets says. “Our proposal of US$800 million, or about $1.03 billion, represents a premium of more than 30% of the value the market currently places on Kumtor. “It’s actually more than you would typically see as a takeover of an entire company, let alone an asset in a politically difficult jurisdiction.” Under the proposed transaction, Chaarat would provide US$400 million in cash (a mixture of debt and equity “backed by two major international financial institutions”). Subject to approval from the Kyrgyzstan government, US$400 million of Centerra’s shares held by state-owned Kyrgyzaltyn (which processes Kumtor’s gold at its own refinery) would transfer to Centerra and get cancelled, in exchange for a 50%, direct-preferred economic interest in the mine. If the deal gets done, Chaarat would own all of the common equity of Kumtor and have control over management and operations of the mine, and Kyrgyzaltyn would own all of the preferred equity of Kumtor and be entitled to 50% of the economic benefits from the mine. Kyrgyzaltyn is the biggest company in Kyrgyzstan, and, with its joint-venture partners, produces

Looking west at Charaat Gold’s Tulkubash gold project in Kyrgyzstan. CHARAAT GOLD

“MY VIEW IS SIMPLE. FIDEL CASTRO USED TO SAY, ‘VICTORY IS PERSISTENCE’ — AND WE HAVE PLENTY OF THAT.” ARTEM VOLYNETS NON-EXECUTIVE DIRECTOR, CHAARAT GOLD

more than 97% of its gold. “Under our proposal, 100% of the cash flow from Kumtor stays in the country,” Volynets says. “The government will get 50% of dividends from Kumtor directly, and another 50% that Chaarat gets will be reinvested in the Kyrgyz Republic for the development of our two properties there, which require about US$600 million in capex over the next five

to seven years. “We are 100% confident that the transaction will proceed as planned, because it makes money for everyone. It creates value for all stakeholders,” Volynets says. “I’ve been in this business for quite some time and completed some US$30-billion worth of deals, and those deals that make money typically do get completed.”

What’s more, he says, Chaarat’s proposal was supported by its advisors, BMO, and accompanied by two support letters on funding, “one from one of the largest banks in Europe, and the second one from a cornerstone investor, with US$150 billion of investment in listed companies. “We were able to provide those confirmations of interest and funding, because it’s part of the strategy we’ve been working on for a number of years.” Volynets argues that the proposal will benefit Kyrgyzstan, “and, as such, will have full and popular support from all constituents in the country. “Obviously, they have to go through the proper debate, and we welcome that debate ... most likely it will go to debate in parliament, where we will present our case, and independent experts will present their views based on whether it will be good for the country or not.” Volynets also reasons that Cen-

The Art and Humour of John Kilburn Cartoons from A hilarious, 262-page anthology of mining cartoons by The Northern Miner’s resident cartoonist John Kilburn. Unique in its scope and ambitions, this anthology gathers the best Northern Miner cartoons created over 25 years by John Kilburn, a Vancouver-based mining professional who has worked in Western Canada as a mining engineer, broker, journalist, equity analyst and investor. Kilburn stylishly captures the mining sector’s biggest events over the past quarter century as well as its perennial conundrums with a cast of characters that includes engineers, geologists, miners, promoters, executives and environmentalists. Joining the cast are coal mine canaries, camp dogs and llamas, plus a special appearance by Santa. With a foreword by Pierre Lassonde, cofounder and chairman of Franco-Nevada, an introduction by John Cumming, editor-in-chief of The Northern Miner, and hundreds of boisterous JK mining cartoons like you’ve never seen them before. Specifications: 7.8” by 10”, 262 pages, B&W with a colour cover, ISBN 978-1-987932-00-3 C$34.99 plus shipping and applicable taxes.

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terra should appreciate the offer, given its history of troubles operating in Kyrgyzstan (including lawsuits and allegations of environmental infractions), and its goal over the last few years of diversifying out of politically risky jurisdictions. “Not only will they get a full and fair price for this asset, but after it’s sold, the rest of Centerra’s assets are primarily in Canada, North America — tier-one mining jurisdictions — and there is no reason anymore for this company to trade at a discount to its peers. Therefore, its shares are likely to rerate.” Volynets, who has lived in London for the last 20 years and is a dual Russian-British citizen, also brings to Chaarat a robust Rolodex, with investor connections in Russia and Asia that will be invaluable as the company consolidates gold companies. “Chaarat has been working there for 16 years. It’s a small country and we know everyone,” Volynets says. “But it’s not the quality of our contacts — which we assure you are very good ... and are top decisionmakers in the country — but it is the transparency of our approach. “We don’t want to sit down with any of the top decision-makers in a back room somewhere and sign a deal that isn’t transparent,” he says. “We want to get away from that legacy and have a proper debate in the parliament, and have full transparency on all of the agreements, because we believe it’s the best way to create value for our shareholders and investors.” That goal will be even more important, he says, given the recent change in government. On April 19, the government of Prime Minister Sapar Isakov was dismissed by Kyrgyzstan’s president after a vote of no confidence in parliament. The parliament is in the process of appointing a new government. Meanwhile, Volynets warns, “the longer uncertainty prevails, the more difficult the negotiating position for Centerra is going to be.” “They didn’t respond” to an update on the proposed offer that Chaarat released on May 1, he says. “We want to engage in a friendly and constructive discussion because it’s the best way to create value for all parties, and the sooner the better, because from now on the [offer] price has only one direction to go, and that’s down.” “My view is simple,” he says. “Fidel Castro used to say, ‘victory is persistence’ — and we have plenty of that.” TNM

2018-05-08 7:58 PM

SPECIAL FOCUS

SOUTH AMERICA Codelco’s Chuquicamata copper-gold mine in Chile’s Antofagasta project. CODELCO

Equinox Gold nears production at Aurizona

Lithium Chile spins out base metals

BRAZIL

| First gold pour expected before year-end

LITHIUM

| Drill campaign kicking off in May BY RICHARD QUARISA

rquarisa@northernminer.com

lt hough Lithium Chile (TSXV: LITH) has been a lithium-focused company since 2015, that wasn’t always the case. It went public in 2011 under the name Kairos Capital, and did so with six copper-gold prospects in Chile. Now Lithium Chile is spinning out those properties into a company called Kairos Metals. “Markets cratered in 2012 and there was no interest in copper or gold,” Lithium Chile president and CEO Steve Cochrane says in a telephone interview with The Northern Miner from his office in Calgary. Cochrane took over as Lithium Chile CEO in August 2017, and suggested the company decide to be either a copper play or a lithium play. He is one of three initial board members for Kairos Metals. “My experience on the investment side is that if you try to do both, you don’t get credit for either,” Cochrane says. “So we decided to make a stand-alone company to hold the copper-gold properties.” Lithium Chile has US$10 million in cash. It will lend US$1.2 million to Kairos to start a drill program that Cochrane says will likely target two of Kairos’ properties: the copper-gold Salvadora property and the silver-gold Nancagua property. Lithium Chile vice-president of exploration Terence Walker last explored Nancagua in 1995.

The grinding area under construction at Equinox Gold’s Aurizona gold mine project in northeast Brazil. EQUINOX GOLD BY TRISH SAYWELL tsaywell@northernminer.com

quinox Gold (TSXV: EQX; US-OTC: EQXGF) expects to pour the first gold at its Aurizona open-pit project in northeastern Brazil before year-end. The past-producing mine —

which was put on care and maintenance in 2015 — will be the company’s first operating mine, and construction is fully funded from cash and marketable securities, in addition to a US$85-million secured project credit facility, from which Equinox has drawn US$15 million. “Things are tracking along nicely so the gold pour is coming up pretty quickly,” Christian Milau, Equi-

nox’s CEO, says in a telephone interview from Vancouver. Construction is on schedule and on budget, with $43 million of the $146-million construction budget already spent and $76 million committed at the end of March. The carbon-in-pulp circuit and detox tanks have been refurbished, and the newly built semi-automatic grinding and ball mills and compo-

nents have been loaded onto a ship to Brazil, with delivery expected in June. Equinox anticipates a rerating from analysts once it becomes a producer and turns out 136,000 oz. gold a year at estimated all-in sustaining costs of US$754 per oz., over a mine life of six and a half See EQUINOX / 12

“ALL OF A SUDDEN, WE’VE BECOME THE PRETTIEST GIRL AT THE DANCE.” STEVE COCHRANE CEO, LITHIUM CHILE

Salvadora sits 12 km from stateowned, copper-mining company Codelco’s El Salvador mine, which has produced 1.8 billion tonnes copper. Kairos’ property appears to be on the same underlying structure. The company has found two vein systems on the property, 3 km apart, across a 4 km strike length called Feliz Retiro and La Fortuna. So far it has dropped two reconnaissance holes into Salvadora, one into each system. The Feliz Retiro hole intercepted 32 metres from 95 metres downhole grading 0.32% copper, 1.66 grams gold per tonne and 2.3 grams silver. The La Fortuna hole returned 34 metres from 36 metres downhole at 1.48% copper, 0.22 gram gold and 8.5 grams silver including 6 metres from 48 metres downhole grading 5.71% copper and 21.7 grams silver.

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MAY 14–27, 2018 / THE NORTHERN MINER

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Steve Cochrane (left), Lithium Chile president and CEO, and Al Kroontje, executive chairman. LITHIUM CHILE

Lithium Chile’s exploration property. LITHIUM CHILE

Lithium Chile LITHIUM From 9

The system has artisanal workings, including hand-dug shafts and others descending as much as 180 metres below surface. Small-scale mining persists on the property today across two local claims within Kairos’ bigger claim. “They’re being worked by a momand-pop operation,” Cochrane says.

“They’re very small — one hectare, two hectares within our property.” Salvadora is accessible via a paved highway that leads to the claim boundary. From there, what Cochrane calls a “high-grade gravel road” begins. It bisects the property and leads to what he calls “tier-two” gravel roads that sprout off into the various zones. “There are a couple places we go

Lithium Chile’s senior geologist Eric Hansen on the Salar de Ollague project. LITHIUM CHILE.

off road,” he says, “but it’s really high alpine desert. No foliage, no trees, no soil or overburden. You’re driving along a hard-packed desert.” When Cochrane took over as Lithium Chile’s CEO, his goal was to raise up to US$5 million to finance 2018 and 2019 exploration programs. He ended up with US$12 million. The company then sampled its

15 properties — including 13 salars — and picked what it considers its best six based on three criteria: grades, access and size — because, as Cochrane says, “you need a large footprint for lithium evaporation.” It settled on six properties that sampled between 1,410 and 540 mg per litre lithium, and had paved highways within 1 kilometre. This year the company has spent

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US$1.2 million of its US$2-million budget on geophysical exploration. It will spend the rest on reconnaissance holes, with plans to start drilling as soon as possible and continue to the end of July. Lithium Chile is targeting four holes per property as deep as 300 metres each. All-in costs are US$200 per metre. The company has its drill permits, but still needs consent from the local communities — a new addition to the Chilean mining code. It expects to finish paperwork for its Ollague lithium prospect imminently, and mobilize drills in early May. Lithium Chile’s land package in Chile totals 1,485 square kilometres. Cochrane says Chile has long struggled with the perception of being a hard place to do business, and as a result other companies stayed away. Lithium in particular is seen as difficult because the government classifies it as a strategic mineral. As a result, mining companies need to deal with not only the mining ministry, but the nuclear regulatory authority, as well. “It’s a bit of a catch-22,” Cochrane says. “Because it’s perceived as too hard, nobody applied to do it.” However, in early March, Sebastian Pinera assumed office as Chile’s new president. Shortly after, the Chilean government granted a lithium production and export licence to Minera Salar Blanco, a joint venture between Lithium Power International (ASX: LPI) and Bearing Lithium (TSXV: BRZ). “It sent a very strong message that Chile is open for business,” Cochrane says. “All of a sudden, we’ve become the prettiest girl at the dance. Because other companies perceive that Chile is open for business, they’re going to ask, ‘Well, who has the largest land package?’ Lithium Chile is No. 3 behind the government and SQM.” Shares of Lithium Chile are trading at 93¢, within a 52-week range of 35¢ to $1.35. The company has a $94-million market capitalization. “It makes us attractive, even just from a joint-venture perspective,” Cochrane says. TNM

2018-05-08 7:58 PM

SOUTH AMERICA

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 14–27, 2018

SOUTH AMERICA SNAPSHOT

Lithium joins gold and silver as top targets Higher commodity prices have a brought a fresh wave of exploration and pilot-stage mining to South America by Canadian-based juniors. While gold projects remain a favourite, silver and lithium are also proving attractive targets. Here is a sample of seven such juniors active across the continent. CABRAL GOLD Cabral Gold (TSXV: CBR; US-OTC: CBGZF) says there is “significant exploration upside” at its wholly owned Cuiu Cuiu gold project in northern Brazil. It’s located 20 km northwest of Eldorado Gold’s Tocantinzinho project, where measured and indicated resources total 48.7 million tonnes at 1.35 grams gold per tonne for 2.1 million oz. gold. Cabral has found a gold-in-soil anomaly 18 km long at Cuiu Cuiu, which has a historic resource of 3.4 million tonnes at 1 gram gold for 100,000 oz. gold in the indicated category, and 31 million tonnes at 1.2 grams gold for 1.2 million oz. gold in the inferred category. Cabral says the resource calculation was based on an initial 26,000 metres of drilling, and that another 22,070 metres was drilled after the calculation. The company expects to update this resource to National Instrument 43-101 standards soon, and is evaluating high-grade targets at the property. Much of the previous work focused on lower-grade, higher-tonnage mineralization. In the boardroom, Canadian investment banker and former analyst P. Mark Smith has just joined Cabral as executive chairman, with chairman Don Njegovan resigning. GOLDSOURCE MINES Vancouver-based, Ioannis Tsitosled Goldsource Mines (TSXV: GXS; US-OTC: GXSFF) is an active junior in the new Guyana gold rush, with its focus being the Eagle Mountain gold project. It already has a pilot plant operating at Eagle Mountain, which was built in 2015–2016, and is comprised of an open-pit mine and a gravity-only processing plant. The pit excavation uses dry mining (truck excavator) and wet mining (Marok pumping).

The crushing circuit at Hunt Mining’s Martha silver-gold mine in Santa Cruz province, Argentina. HUNT MINING May 2016. Hunt started producing a silver concentrate at Martha in January 2017, and shipped concentrate containing 549,000 oz. silver and 624 oz. gold for all of 2017. Hunt is using cash flow from Martha to develop its flagship La Josefina and La Valenciana gold-silver properties. Since 2007 in the region, Hunt has drilled more than 62,000 metres of diamond core, conducted 416 line km of induced-polarization and resistivity geophysical surveys, and collected more than 20,000 surface chip, channel and trench samples, finding six mineralized zones on two projects, including La JosefinaLa Valenciana and the wholly controlled El Gateado project. For 2017, Hunt Mining declared net income of US$1.7 million in its first year of producing income from its Argentina operations. Hunt’s executive chairman and CEO Tim Hunt stated that “We feel we

have turned the corner. Generating income is now our principal objective, so we will continue to explore, develop and mine our significant property package with that focus.” LSC LITHIUM Ian Stalker-led LSC Lithium (TSXV: LSC; US-OTC: LSSCF) describes itself as an “emerging lithium producer that has amassed a large portfolio of prospective, lithium-rich salars in northern Argentina, and is focused on becoming a significant player in the supply of high-quality lithium product to global markets.” LSC’s properties are located in the “Lithium Triangle” where Argentina, Bolivia and Chile intersect, and its 3,000 sq. km land package covers multiple, non-contiguous salars.

In late April, LSC reported that advanced exploration and preliminary engineering studies are underway at Pozuelos-Pastos Grandes, including: a six-pump, testwell development program started on Pozuelos; a drill rig mobilized for the last three resource delineation holes on Pozuelos; incoming seismic survey work on Pozuelos; two resource delineation drill holes on Pastos Grandes; imminent PozuelosPastos Grandes preliminary economic assessment engineering company selection; and a camp build started on Pozuelos. LUNDIN GOLD Lundin Gold’s (TSX: LUG; US-OTC: FTMNF) high-profile, 4.8 million oz. gold Fruta del Norte gold mine

under construction in southeastern Ecuador is advancing on schedule. In April, Lundin reported it had reached major construction milestones and is now past 1 km of underground mine development at Fruta del Norte. Lundin said other construction highlights include: process plant semi-autogenous grinding and ball mill foundation bases poured; major earthworks, with completion of River road, which improves site logistics; completion of the first major pond for site watermanagement system; power line contractor mobilization to start construction later this quarter;

See SNAPSHOT / 14

Its five development-stage lithium projects consist of its lead project Pozuelos-Pastos Grandes, as well as Salinas Grandes (Salta), Salinas Grandes (Jujuy), Rio Grande and Jama.

Goldsource operates the plant at lower volumes intermittently to collect information for a prefeasibility study for future large-scale mining, and to carry out metallurgical test work. Meanwhile, the junior continues its exploration efforts on-site, with an immediate goal of increasing saprolite resources to a minimum 600,000 oz. gold grading 1 to 1.5 grams gold per tonne via expansion and infill drilling, which started in May 2017, and is ongoing. Goldsource closed a $1.8-million financing in January and should release an updated resource estimate soon. The prefeasibility study is due in this year’s second half.

na.srk.com

HUNT MINING A veteran of the southern Argentina gold-silver scene, Hunt Mining (TSXV: HMX; US-OTC: HMXZF) is producing at its Martha silver-gold mine in Santa Cruz province, which it acquired from Coeur Mining in

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Equinox Gold nears production at Aurizona EQUINOX From 9

years, based on reserves in the Piaba and Boa Esperanca pits. The company is working on a resource update that will incorporate near-mine mineralization found in exploration last year. Measured and indicated resources are 1.4 million oz. gold at 1.57 grams gold per tonne. The mine plan would go down to 200 metres in the pit, but management says there is “significant underground potential,” and is assessing opportunities to develop the deposit underground. “They’ve been drilling down to about 600 metres below the current pit and hitting the same ore and mineralization, and it’s very competent rock, as you go deeper,” Milau says. “There hasn’t been enough drilling to do enough definition to confirm, but all indications are that it continues to depth. We’ll do a study on that and determine what it might look like, and if we should spend the money on it, and I think the answer will be yes.” Equinox is also pushing ahead with an exploration program focused on mine life extension and what it describes as “district-scale opportunities.” Equinox is sitting on 4 km of known strike extension that it will test, and the land package is sizeable, at 2,250 square kilometres. “These structures continue for kilometres and kilometres, they’re very cohesive and we think we’ll double the mine life through some of the strike extensions along the current structures we’re working on,” Milau says. “Then you step out on these other potential anomalies ... there could be satellite deposits or maybe enough there that you would have another mine and another plant. There’s been enough work that indicates the gold is there, so we’re pretty excited about it.” So far, surface exploration, geophysics and drilling have found a structurally controlled mineralized corridor that includes the Piaba deposit and continues 5 km along strike to the west. Drill targets along the mineralized trend include Piaba West and Tatajuba. Results at Piaba West have confirmed that mineralization extends at least 350 metres along strike to the west, and at depth below the shallow, westernmost reserve pit. “It’s a huge property that has huge potential,” Milau says. “This area has been mined since the Jesuit’s time in

the 1650s, but it has vegetation and it has been underexplored.” Milau sees similarities between the Aurizona project and parts of West Africa where he and several of his colleagues at Equinox spent time while at True Gold putting the Karma gold mine into production in Burkina Faso. (True Gold was acquired by Endeavour Mining [TSX: EDV; US-OTC: EDVVF] for $240 million.) “Our property is most similar to Kinross’ Chirano in Ghana in the greenstone belt of West Africa,” he says, referring to the open-pit and underground operation in southwestern Ghana, 100 km southwest of Kumasi, the country’s secondlargest city. “Brazil and West Africa used to be connected and there are the same rock types. You end up with these skinny deposits along structure and a lot of them tend to be steeply dipping, with a similar type of mineralization.” The rainfall and weathering is also similar, he says. “Where we are in Brazil you almost feel like you’re in West Africa — the soil, the rock types — give or take 20 years behind in terms of exploration focus and dollars in the north of Brazil. This is an area that just hasn’t been explored, it’s a big country, there’s more ground cover. We’re in an area that has lighter farmland and a little bit of jungle. It feels like that Wild West frontier that hasn’t been explored to depth, and the degree it could have been.” At the same time, there are a lot of artisanal miners in the area, who dig down to 5 metres and find nuggets, Milau says. “We have photos of nuggets that artisanal miners have found on our property and they range in size from a few kilograms up to as big as 35 kilograms. They’re unbelievable specimens. The artisanal miners find them and machete them up, and divvy them out. You could probably put these nuggets into the Smithsonian.” While the Aurizona project is considered remote, there is still a paved road to the site and power lines that make the price half of what Milau and his team at True Gold paid for power in West Africa. Brazil also has a lot of skilled labour. “It’s a very mining-focused country,” he says. “It’s a big bureaucratic country and it can be frustrating, but in terms of the geology, it’s fantastic.” The previous owner of Aurizona,

Building a Leading Gold Company Through Responsible Mining

An aerial view of the mill area under construction at Equinox Gold’s Aurizona gold project in Brazil. EQUINOX GOLD

Luna Gold, built and operated the mine for about four years. It went on care and maintenance in the third quarter of 2015. During its last reported year of production in 2013, the mine turned out 79,229 oz. gold at total cash costs of US$723 per oz. gold. Milau joined Luna Gold in August 2016, along with other True Gold alumni, including David Laing, Equinox’s chief operating officer; Peter Hardie, chief financial officer; Scott Heffernan, executive vice-president of exploration; and Sebastian D’Amici, senior vicepresident of finance. Milau and his colleagues liked the look of Aurizona and the challenge of restarting the mine appealed to them. (At True Gold, they turned around the stalled Karma project and put it into production in just 14 months.) “We liked challenged projects that had upside and that we could fix with good management,” he says. “And we saw it was 2,200 km in a very prospective greenstone belt, similar to West Africa.” In August 2016, Milau and other Equinox executives put up $2.3 million of their own money to restart Aurizona. “That’s how we got started, so there was nothing sinister about why it shut down,” he says. “It has tons of prospectivity and will be around for decades, and it just needed the money.” Luna Gold built Aurizona in 2008–2009, right after the global financial crisis, and it produced 350,000 oz. gold over four years. Luna financed the build with the help of a stream from Sandstorm Gold (TSXV: SSL), Milau says, but it was at 17%, “an exceptionally high number, so it took a lot of profits out the door.”

Mill components loaded on a ship, headed to the Aurizona gold project. EQUINOX GOLD

“It was built on a shoestring at a downtime in the market and they built the plant they could afford ... for the first phase of the mine,” Milau says. “It worked reasonably well for about four years, but they always needed to build a front end to the plant, so they never had a crusher, they had an old asbestos mill from Quebec, and they planned to run it for five or six years — run the soft material first, and then once they got to the hard rock, they’d transition and would have to put the right equipment in. But they ran out of money, the gold price started falling and the gold stream was high, so they put it on care and maintenance.” In addition to Aurizona, Equinox has a joint venture with AngloGold Ashanti (NYSE: AU) on 23 exploration licences, south of the Piaba deposit. These greenfield exploration licences cover 1,800 sq. km, and AngloGold is earning a 70% stake by spending US$14 million on exploration over four years.

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The major started exploring in August 2016 and has spent US$6 million to US$7 million so far, flying extensive airborne surveys. Data from the airborne surveys and surface geochemistry helped define drill targets. Last year it drilled 10,000 metres in areas they could access quickly. “The previous management team before us brought them in ... and they certainly went hard at it the first year,” Milau says. If AngloGold sells its interest in the greenfield property before finishing a resource estimate, AngloGold will return them to Equinox at no cost. If a resource estimate is ready, Equinox can buy AngloGold’s interest for US$10 per ounce. Elsewhere in South America, Equinox owns a copper-molybdenum porphyry deposit in southeastern Ecuador called the Warintza project. Only a small part of the 226.8 sq. km land package has been tested, with 6,500 metres of drilling. A resource estimate on the project in 2013 outlined an inferred resource of 1.81 billion lb. copper at 0.42% copper and 132.3 million lb. molybdenum at a 0.031% grade, for a copper-equivalent resource of 2.1 billion lb. at 0.61%. The project lies in a mineralized corridor that hosts numerous porphyry deposits. Warintza is 40 km north of Mirador’s copper-gold development project and nearly contiguous to the Panantza-San Carlos copper project owned by EcuaCorriente, an Ecuadorian subsidiary of China’s CRCC-Tongguan consortium. In Chile, Equinox owns another copper-molybdenum project called Ricardo. The project’s land package is 160 sq. km located along the West Fissure fault. The company has only drilled two holes so far, but says it See EQUINOX / 14

2018-05-08 7:58 PM

SOUTH AMERICA

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 14–27, 2018

Gold Fields’ Cerro Corona open-pit, gold-copper mine in Peru, 600 km northwest of Lima. GOLD FIELDS

Gold Fields bets big on South America GOLD BY TRISH SAYWELL

tsaywell@northernminer.com

ince finding Salares Norte in the Atacama region of northern Chile in 2011, Gold Fields (NYSE: GFI) has carved out a resource from the project’s two orebodies of 3.66 million oz. gold and 49.46 million oz. silver. The South African miner expects to finish a feasibility study on the open-pit project before year-end. Gold Fields has budgeted US$83 million for drilling during the feasibility study, and exploration for 20 km around the project. Interim results of the feasibility study suggest project capital of US$850 million, annual production of 345,000 equivalent oz. gold at all-in sustaining costs of US$575 per oz., and yearly throughput of 2 million tonnes. The mine life is projected at 10 years. The findings are based on the most recent resource estimate of 23.3 million tonnes grading 4.89 grams gold per tonne and 66 grams silver per tonne — 95% of which is in the indicated category. The company plans to update the resource along with the feasibility study, which is due later this year. Salares Norte’s two orebodies — Brecha Principal and Agua Amarga — are 500 metres apart, and the nearsurface mineralization is contained in a high-sulphidation, epithermal system, hosted mainly by a breccia complex along two andesitic and dacitic volcanic domes. Most of the mineralization is oxidized, and the sulphide mineralization contains pyrite. The high-grade project sits in the northern part of Chile’s Maricunga belt at elevations of between 4,200 metres and 4,500 metres. “Salares Norte could well be one of many promising discoveries in the area — the tip of the iceberg,” Max Combes, the project director and country manager, writes in an email, adding that it is probably the only project Gold Fields owns from its greenfields portfolio that has graduated to advanced drilling. “Salares Norte is a unique deposit due to its high grade, and due to its isolated location,” Combes says. “Although the isolation and altitude of the project presents challenges, the fact that the project is far away from any human settlements — in a closed basin with no neighbours — eliminates any impacts that mining often has on people or any economic activities.” Gold Fields envisions the mine having a processing plant that includes both carbon-in-leach (CIL) and Merrill-Crowe processes due to the ore’s high silver content. The

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| Makes progress at Salares Norte in Chile and Cerro Corona in Peru

“SALARES NORTE COULD WELL BE ONE OF MANY PROMISING DISCOVERIES IN THE AREA — THE TIP OF THE ICEBERG.” MAX COMBES PROJECT DIRECTOR AND COUNTRY MANAGER, GOLD FIELDS

mine would also use filtered tailings in a dry stack. Preliminary metallurgical test results indicate 92% gold extraction, using a conventional CIL process on samples of oxidized material. Gold Fields has done environmental and social baseline work as part of its environmental impact assessment (EIA). After the EIA and baseline studies, the team will present the findings to the relevant regulators and likely make a production decision in the second half of 2019. If the company builds a mine, construction would take two years, Combes says, so mining could start as early as the first quarter of 2022. The Maricunga belt is an area known for its Cenozoic volcanic rocks, comprising eroded stratovolcanos, volcanic domes and pyroclastic rocks. The project is located within a core 18 sq. km concession, but Gold Fields has an option to buy an adjoining concession that would add 12 square kilometres. Land easement was granted in May 2016 for 30 years and water rights for the project were obtained in December 2016, with the regulator granting Gold Fields access to 114 litres per second, which is double what the project needs. The nearest town is Diego de Almagro — 190 km by road to the west of the project — and while there are no indigenous claims or communities on the concession, or dedicated access routes, the company embarked on an extensive engagement program in the wider vicinity of the project, and spent US$265,000 on community initiatives in 2017. In Peru, Gold Fields built and now operates the Cerro Corona open-pit mine, 600 km northwest of Lima. The mine has produced since 2008 and the processing plant uses a sulphide-flotation circuit to make an auriferous copper concentrate that is trucked 380 km to the port of Salaverry for export. Cerro Corona is the lowest-cost producer in Gold Fields’ portfolio. Last year it produced 307,000 equivalent oz. gold at all-in sustain-

Looking northeast at Gold Fields’ Salares Norte gold-silver project in northern Chile’s Atacama region. GOLD FIELDS

ing costs of US$673 per equivalent oz. gold. Based on the latest prefeasibility study and increased mineral resource conversion, the mineral reserve will be depleted in 2030 another seven years to the current life-of-mine. A scoping study to assess opportunities for more growth is being undertaken this year. The life extension would be achieved by placing a higher-density tailing material, along with an increase in the dam wall elevation of

the tailings storage facility to 3,803 metres, which would add two years of usage to the tailings facility and five years to in-pit tailings. As of December 2017, Cerro Corona had proven and probable reserves of 86.2 million tonnes grading 0.70 gram gold per tonne for 1.94 million oz. gold and 0.40% for 767 million contained lb. copper. The reserves were reported at a net smelter return cut-off of US$14.75 per tonne. Exploration found porphyry-style mineralization in the Cerro Corona

area in 1979. The deposit is hosted by intensely altered, intrusive lithologies of diorite to dacitic composition. The intrusive is emplaced along sub-vertical faults. Limestone alteration varies from siliceous south of the deposit to marbling in the west. Cerro Corona sits at elevations ranging from 3,600 metres to 4,000 metres, and is located 1.5 km northwest of the village of Hualgayoc, 80 km by road north of the departmental capital of Cajamarca. TNM

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2018-05-08 7:58 PM

MAY 14–27, 2018 / THE NORTHERN MINER

SOUTH AMERICA

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Refurbished carbon-in-pulp tanks at the Aurizona gold project. EQUINOX GOLD

Equinox Gold EQUINOX From 12

has found rock types similar to those seen at Codelco’s enormous Chuquicamata mine, 1,650 km north of Santiago. (Chuquicamata is one of the largest open-pit copper mines in the world (4.3 km long, 3 km wide and 850 metres deep), and has operated since 1910. The operation will become an underground mine sometime in 2019.) In Peru, Equinox has the Koricancha mill, a custom-built, gold ore-processing facility with a 350-tonne-per-day capacity. It buys mineralized feed from legally operating small-scale and artisanal miners at a market discount, processes it into gold and silver, and sells it at spot prices. The mill is in southern Peru and 10 minutes from the Pan-American Highway. The company’s other asset is a 60% stake in the La Verde coppersilver-gold porphyry deposit in Mexico, with a subsidiary of Teck Resources owning the other 40%. The project has been explored only sporadically since 1906, with 115,000 metres of drilling to date. A 2012 resource estimate outlined measured resources of 57.5 million tonnes grading 0.45% copper; indicated resources of 350.4 million tonnes grading 0.40% copper; and inferred resources of 337.5 million tonnes grading 0.37% copper. Equ i nox a i ms to produce 500,000 to 1 million oz. gold annually by the mid-2020s. Some of that growth likely will come from outside South America, at its advanced-stage Castle Mountain gold project, 120 km south of Las Vegas in California’s San Bernardino county. There was a heap-leach operation there be-

tween 1991 and 2001 that produced 1.24 million oz. gold at a head grade of 1.47 grams gold per tonne. Management expects to finish a prefeasibility study on Castle Mountain by mid-2018. The project has a measured and indicated resource of 192 million tonnes grading 0.64 gram gold for 4 million contained oz. gold, and another 102 million inferred tonnes averaging 0.48 gram gold for 1.6 million contained oz. gold. The resource estimate used a 0.2 gram gold cut-off grade. Based on 2017 drilling, Equinox’s geologists reckon that there is “strong organic growth potential” at Castle Mountain. In addition to Castle Mountain, Equinox also holds the past-producing Elk Gold project in British Columbia. Equinox’s chairman, Ross Beaty, owns 12% of the company’s outstanding common shares. The mining entrepreneur helped create the company in October 2017 by leading a merger between Trek Mining, NewCastle Gold and Anfield Gold. On a conference call discussing the merger at the time, Beaty said the opportunity appealed to him for a number of reasons, including impressive core management and a strong board of directors. “We have two big assets that have the capacity to become large mines with bright futures,” he told analysts and investors on the call. “The assets have near-term, lowcost gold production, and generate high returns. That’s how you create shareholder wealth.” Equinox has a $500-million market capitalization, with 445 million shares outstanding at $1.10 per share. TNM

A drill site at LSC Lithium’s Pozuelos-Pastos Grandes lithium project in Argentina’s Salta province. LSC LITHIUM

SOUTH AMERICA SNAPSHOT SNAPSHOT From 11 and completion of a 1,000-person construction camp. The company says the work is on budget and on schedule at the wholly owned project, with engineering at 26% and construction, 16%, though it is looking for efficiencies as it builds the mine. Lundin describes Fruta del Norte as “one of the highest-grade and largest gold projects currently under construction,” with future production set at 3,500 tonnes per day, averaging 325,000 oz. gold per year at all-in sustaining costs of US$609 per ounce. The first gold pour is expected in fourth-quarter 2019. NEO LITHIUM Waldo Perez-led Neo Lithium (TSXV: NLC; US-OTC: NTTHF) is also active in South America’s Lithium Triangle. Its Tres Quebradas (3Q) lithium brine project in Argentina’s Catamarca province covers 350 sq. km, and hosts a measured and indicated resource of 714,000 tonnes lithium carbonate equivalent at an average grade of

1-16, 23_MAY14_Main .indd 14

716 mg lithium per litre, plus an inferred resource of 1.34 million tonnes of lithium carbonate equivalent at an average grade of 713 mg lithium per litre. Neo Lithium says the “low magnesium and sulphate content of the resource is consistent with prior samplings and drilling results, and could make the brine favourable for future processing.” Neo Lithium points to four advantageous characteristics of the 3Q project: it is one of the highestgrade lithium brine projects in the world; it has the lowest impurity content of any known salar; its salar footprint is large, at over 150 sq. km; and it is wholly owned and fully permitted. In March, Neo Lithium reported drilling had confirmed a deep aquifer at 3Q that “opened a new, significant frontier of exploration” at 3Q. The hole intercepted 512 metres, with an average 638 mg/L lithium in the deep aquifer. SIERRA METALS Based in Toronto, 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 cutand-fill methods, as well as ore processing in a flotation plant. In April, Sierra Metals reported that Yauricocha had achieved record quarterly throughput during the first quarter of 2018, though metal production slipped due to a difference in grades and recoveries. This quarter, Sierra will finish infrastructure for a tunnel at Yauricocha that will expand capacity to handle waste and ore. It’s also sinking the Yauricocha shaft to the 1,270 level this year to provide access to further reserves and resources at the mine, which Sierra says will see “consistent levels of throughput in 2018, due to a refurbishment of the lower part of the Mascota shaft, which could potentially cause a slowdown in production rates during that time period, which was already factored into our 2018 production guidance.” Sierra’s full quarterly results are due this May. TNM

2018-05-08 7:58 PM

SOUTH AMERICA

GLOBAL MINING NEWS

A drill rig on the homestead target at Lara Exploration’s Planalto copper project in Brazil’s northern Carajas district. LARA EXPLORATION

THE NORTHERN MINER / MAY 14–27, 2018

A core sample from a chalcopyrite vein at the Planalto project. LARA EXPLORATION

While seeking JV partner, Lara drills Planalto in Brazil COPPER

BY RICHARD QUARISA

rquarisa@northernminer.com

ara Exploration (TSXV: LRA) is drilling its 47 sq. km Planalto copper property in Brazil’s northern Carajas district. “We’re a prospect generator and we typically don’t drill projects ourselves,” Lara president, CEO and cofounder Miles Thompson says in a telephone interview with The Northern Miner from his office in London, England. “Our model is to joint venture everything.” Lara optioned Planalto in 2013 from a local company, but ran into legal issues when the Brazilian department of mines cancelled Lara’s licences over what Lara says the department perceived as “deficiencies” in the application paperwork. Those issues were not resolved until June 2016. Planalto sits just south of Avanco Resources’ (ASX: AVB) Antas openpit, copper-gold mine in a wellestablished mining district that includes Vale’s (NYSE: VALE) Sossego copper-gold mine and Salobo copper mine — the largest copper deposit ever discovered in Brazil. True to its business model, Lara optioned the property to Avanco in May 2017. By June, Avanco had elected not to proceed with the option after completing two electromagnetic surveys over two soil geochemistry anomalies on Planalto. However, Thompson says that geophysical work “confirmed Lara’s view that there was something there” that “justified drilling.” The company found several conductors, and in October 2017, proposed a scout drilling program to test a prospective zone that extends 1,000 metres in strike length and between 150 metres and 400 metres width at surface. At the end of 2017 it launched a five-hole “proof of concept” drill program. Results from that program began trickling out in February 2018. Lara’s first hole intercepted 222 metres from surface grading 0.38% copper, including 117 metres from 62 metres downhole grading 0.53% copper. More holes intercepted 51 metres from surface grading 0.27% copper and 101 metres from 102 metres downhole grading 0.14% copper. The latest assays returned 211

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| Prospect generator awaits court decision for Liberdade project

“WE’RE A PROSPECT GENERATOR AND WE TYPICALLY DON’T DRILL PROJECTS OURSELVES.” MILES THOMPSON PRESIDENT, CEO, FOUNDER, LARA EXPLORATION

metres from surface at 0.39% copper, including 114 metres from 51 metres downhole grading 0.55% copper. Lara is drilling its fifth and final hole at Lara, a scissor hole designed to intercept mineralization picked up in the latest assays. After, it will continue looking for a joint-venture partner. “From a business standpoint, drilling out a big base metals project doesn’t make economic sense for a junior,” Thompson says. “We’ll put the data together and try to find a partner to do the heavy lifting for us.” Lara has another US$400,000 in staged payments to make on Planalto over the next three years. The property includes a 2% net smelter

return royalty, part of which Lara can buy back. The company has several core copper and gold projects across Brazil and Peru, including its Grace gold project and Liberdade copper project. At both projects, the company is working through some legal issues. Lara recently released results on 88 shallow holes drilled by Minera Apumayo at the 48 sq. km Grace project located in the Ayacucho district of Southern Peru. Apumayo’s option to acquire Grace expired in December 2017. According to Lara, Apumayo has expressed interest in extending the option period, but has been unwilling to make financial commitments, and still owes property fees for 2017.

Highlights from Apumayo’s drill program include 22 metres from 18 metres downhole grading 0.67 gram gold per tonne and 52 metres from 60 metres downhole grading 0.53 gram gold. Lara’s 49% owned, 85 sq. km Liberdade project sits at the western end of the Carajas district. The project is a joint venture with Codelco, which can earn another 24% interest by defining a minimum resource of 500,000 tonnes copper equivalent. Codelco drilled six holes into the property in 2012, returning highlights of 197 metres from 49 metres downhole grading 0.65% copper and 128 metres from 73 metres downhole at 0.69% copper. Before Lara, the property was owned by Vale. Nine months after Vale lost its licence, in mid-2010, Lara filed a claim, and then, after the joint venture, transferred that claim to Codelco in March 2011. Codelco finished several exploration programs and requested a three-year renewal in July 2013. Vale is now claiming ownership

of the property through a licence dating back to 1986 that it says is still valid. As a result, the Brazilian department of mines delayed Codelco’s licence renewal and Codelco took both Vale and the department to court. Thompson says that all the motions are in and the companies are waiting for a decision. “Any decision we get would be subject to appeal,” Thompson says. “The court route is not a quick route. But the evidence of the quality of the discovery is that two of the larger mining companies on the planet are fighting over it.” Shares of Lara are valued at 65¢ with a 52-week range of 50¢ to $1. The company has a $22-million market capitalization. Across South America, it has nine active projects. “That’s the neat thing about these prospect generators,” Thompson says. “Once you have a project and it’s in a joint venture, essentially what you’re doing is managing the relationship. Then your team can get on and generate the next project.” TNM

TSX: SMT NYSE American: SMTS BVL: SMT

Exciting Resource and Production Growth in Peru and Mexico

ZINC

COPPER

SILVER

LEAD

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2018-05-08 7:58 PM

WWW.NORTHERNMINER.COM

MAY 14–27, 2018 / THE NORTHERN MINER

Agnico Eagle slashes stake in Belo Sun Mining GOLD

| Belo Sun board borrows $10M from company to buy shares FOUR DIRECTORS ARE BUYING A THIRD OF THE SHARES AGNICO EAGLE HELD IN THE COMPANY, OR 29.9 MILLION SHARES, WITH THE HELP OF A $10-MILLION LOAN FROM THE COMPANY.

BY TRISH SAYWELL

tsaywell@northernminer.com

gnico Eagle Mines (TSX: AEM; NYSE: AEM) has sold 44.6 million common shares in Belo Sun Mining (TSX: BSX), slashing its stake in the company from 19.14% to 9.57%. The gold major announced on April 20 that it had completed the sale, disposing of the shares at 33.5¢ apiece (the 30-day, volume-weighted average price of Belo Sun’s common shares on the TSX at the time of the trade), for proceeds of $14.9 million. It plans to sell the rest of the shares (44.6 million) either to Belo Sun in an option over the next 60 days, or dispose of them “in an orderly fashion, as market conditions permit.” Three days after Agnico’s announcement, Belo Sun said in a press release that four directors are buying a third of the shares Agnico Eagle held in the company, or 29.9 million shares, with the help of a $10-million loan from the company. Director Stan Bharti bought 12.9 million shares; Peter Tagliamonte, the company’s current president and CEO and a director, 12.93 million common shares; director Denis Arsenault, 2.99 million shares; and Mark Eaton, the board’s executive chairman and former president and CEO from 2010 to 2014, 1 million shares. Prior to the transaction, Bharti held no shares in Belo Sun and now owns 2.78%. Tagliamonte’s shares have risen from 0.21% before the transaction to 2.8% now; Arsenault’s holdings have grown from 0.026% before the transaction and now stand at 0.66%; and Eaton’s holdings have increased from 1.9% pre-transaction to 2.16%. The $10 million the directors are borrowing from the company to buy the shares has an annual interest at the London interbank offered

Drillers in 2011 at Belo Sun Mining’s Volta Grande gold project in Brazil. BELO SUN MINING

rate, plus 1%, payable on each oneyear anniversary of the loans. The principal amount of the loan is due — together will all the accrued and unpaid interest — in 24 months. Requests for comment from Belo Sun (by phone and email) were unanswered at press time. One consultant to the mining industry, who asked not to be identified, was willing to weigh in on the Belo Sun transaction. “I don’t think using cash from the company’s treasury to make loans to directors to buy shares is prudent use of capital,” he said. “On the other hand, if there were no other buyers and the alternative was for Agnico Eagle to sell in the market, that outcome would have been even worse for existing shareholders.

CAREER OPPORTUNITIES

“The skeptic in me wonders what the recourse in the loan agreement is in the event the borrowers default,” he muses. “What happens if Belo Sun stock drops to 5¢ in the next 24 months? Will the borrowers really have to repay the loans, or could they default and just give the stock back to the company?” Belo Sun owns the Volta Grande gold project in Brazil’s Para state. In December 2017, the Federal Court of Appeals in Brasilia upheld a lower court judge’s ruling to suspend the project’s construction licence. A year ago, on April 12, the judge from the Brazilian Federal Regional Court issued an interim order suspending the licence, because the Indigenous Affairs Agency of Brazil, known as Funai, had not approved

Harte Gold approaches production HARTE From 1

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1-16, 23_MAY14_Main .indd 16

Belo Sun’s indigenous studies. After the federal court’s ruling, Tagliamonte said in a press release that while the company was disappointed with the decision, management was “confident that a resolution can be reached” and “will continue working with Funai to ensure that our indigenous study meets their requirements.” He added that the company will “explore all legal measures to appeal the decision.” The Volta Grande property, 60 km southeast of the city of Altamira, stretches over 1,600 sq. km within the Tres Palmeiras greenstone belt. Altamira is a major regional centre with a population of 150,000. It has a local airport and connects with the Trans-Amazonian Highway. The

project also benefits from a hydroelectric dam 20 km north, which, according to the company, is the third-largest hydroelectric dam in the world. The company intends to bring power to the project through a 230-kilovolt power line. A March 2015 feasibility study was based on proven and probable reserves of 116 million tonnes grading 1.02 grams gold per tonne for 3.79 million oz. gold. The study envisioned an open-pit mine with a 17.2-year mine life and average annual production of 205,000 oz. gold (260,000 oz. in years one to 10). Initial capital costs could reach US$298 million after-tax, including pre-production and taxes. Using a base case of US$1,200 per oz. gold and a 5% discount rate, Volta Grande’s post-tax net present value was calculated at US$665 million and after-tax internal rate of return at 26%. All-in sustaining costs reached an estimated US$779 per ounce. At press time, Belo Sun’s shares were trading at 30.5¢ within a 52week range of 29¢ to 71¢. The company has 466 million shares outstanding for a $153.7-million market capitalization. TNM

mineralization). For the purposes of the PEA, the potentially mineable mineralization was 4.5 million tonnes at a diluted grade of 6.5 grams gold for 941,000 contained oz. gold. But based on the last resource completed in February, and using a 3 gram gold per tonne cut-off grade, Sugar’s indicated resource stands at 2.61 million tonnes grading 8.52 grams gold per tonne for 714,200 contained oz. gold, and inferred resources are 3.59 million tonnes averaging 6.59 grams gold for 760,800 contained oz. gold. Average diluted grade over the first 18 months of production would be 5.5 grams gold. From 2020 to 2025, higher-grade areas of both the Sugar and Middle zones would be accessible, providing access to

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high-grade stopes averaging a diluted head grade of 7.3 grams gold. From 2025 onward, the lower-grade inferred resource would be mined at an assumed diluted grade averaging 5.3 grams gold. The Sugar Zone requires two ramps: the Sugar Zone North ramp (to 1,000 metres deep) and the Sugar Zone South ramp (to 500 metres deep). Increasing production to 1,400 tonnes per day calls for developing the ramp from the Sugar Zone to the Middle Zone, which would accompany commercial production. H a r t e re c e nt l y f i n i s he d a 70,000-tonne, advanced-exploration bulk sample, and mined 30,000 tonnes under its first-phase commercial production permit. In addition to completing the PEA and financing, Harte also signed an impact benefit agreement with the Pic Mobert First Nation. The agreement includes a 4% net profit interest payable to First Nations, and stock options to buy 500,000 shares in Harte at 40¢ for five years. “Harte Gold and the Pic Mobert First Nation have worked together since signing an exploration agreement in 2011,” Mike Kozak, an analyst at Cantor Fitzgerald, observes in a research note. “This is a significantly positive and highly important development, effectively signifying that the First Nations

are supportive of the Sugar Zone project, and mining operations in general.” Pierre Vaillancourt of Haywood Securities says “there are a number of opportunities outside the scope of the PEA, which could further improve the mine plan and economics of the project. “Opportunities include: tighter drilling to boost the grade of existing inferred resources at 5.3 grams gold, compared to indicated resources at 8.5 grams gold; additional definition down-plunge and of the Footwall zone; additional drilling of the Wolf zone; and regional opportunities, with volcanogenic massive sulphide or Hemlo-style potential.” Vaillancourt has a “buy” rating on the stock and a 90¢-per-share target price “in anticipation of key catalysts and production start later this year. However, we are concerned the extended permitting process may delay the start of production.” Cantor Fitzgerald’s Kozak has a $1.20 price target on the stock, which is up from $1.10 per share previously. At press time, Harte’s shares were trading at 42¢ apiece, within a 52week range of 33¢ (March 2018) to 77¢ (May 2017). The company has 572 million shares outstanding for a $241-million market capitalization. TNM

2018-05-08 7:58 PM

GLOBAL MINING NEWS

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2018-05-07 10:57 AM

WWW.NORTHERNMINER.COM

MAY 14–27, 2018 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / APRIL 30–MAY 4 Canada’s benchmark index rose 0.38% to 15,729.4 , w it h l it t le movement i n Canadian markets. The S&P/TSX Global Mining Index rose 1.62% to 73.18, while the S&P/TSX Global Gold Index fell 0.13% to 191.58, and the gold price fell 0.57% to US$1,315. Shares of Corvus Gold rose 13.2% to $3. The company has released a stream of drill results for its Mother Lode gold project in Nevada since late 2017. Most recently, the company tabled assays from t hree step-out holes in Mot herlode’s southwest extension. The best hole returned 33.5 metres from 214 metres downhole grading 2.2 grams per tonne gold, including 19.8 metres from 227 metres downhole at 3.3 grams gold. The project does not yet have a resource estimate. The company also released results from two scout holes at its Flatiron gold target, 800 metres sout hwest of Mot herlode. Results were low grade, with mineralization thought to occur over multiple low-grade zones, with some narrower, higher-grade zones. Shares of Pan American Silver fell 27¢ to $21.27. Operations at its underground Huaron silver mine in Pasco, Peru, have been suspended si nce Apr i l 24 a f ter members of the local Huayllay commu-

nity built roadblocks barring access to the mine. The community is demanding compensation for alleged damage to its land, as well as service contracts for additional work. The company is seeking a resolution to the dispute. Pan American Silver also recently released its 2017 fourth-quarter results. In the quarter the company produced 6.58 million oz. silver — 4% higher than the same quarter of the previous year — as well as 43,700 oz. gold, which is slightly less than the same quarter of the previous year. Its net earnings were US$49.7 million, which is more than double the same quarter of the previous year. Pan American Silver should announce its 2018 first-quarter unaudited results TSX MOST ACTIVE ISSUES

Katanga Mng Lundin Mng Yamana Gold Suncor Energy Detour Gold First Quantum Kinross Gold B2Gold HudBay Mnls Goldcorp

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

KAT LUN YRI SU DGC FM K BTO HBM G

15381 1.01 0.70 0.93 - 0.06 15296 8.63 8.09 8.21 - 0.05 14110 3.95 3.58 3.78 - 0.11 13874 49.57 48.45 49.39 + 0.48 13698 10.78 9.11 10.77 + 0.72 11153 20.10 17.45 20.06 + 2.21 10122 5.22 4.93 5.20 + 0.12 9610 3.74 3.57 3.66 - 0.04 9459 9.21 8.55 9.02 + 0.03 8963 17.63 16.86 17.35 - 0.24

in May. The price of Marathon Gold's shares rose 12.4% to $1. In early May the company boosted its resource estimate for its wholly owned Valentine Lake gold project in New foundland. The resource grew to 33.5 million measured and indicated tonnes grading 1.99 grams gold for 2.14 million oz. gold. The company has four deposits at Valentine Lake, although its

recent gains came from the Marathon deposit. The company also noted a small decline in open-pit resources from its Leprechaun and Victory deposits, attributable to a “preliminary economic assessment (PEA) level open-pit design.” The company says it will include the revised resource in its “soon-to-be-released” PEA. TNM

TSX GREATEST PERCENTAGE CHANGE

Tanzania Rlty Corvus Gold Azarga Uranium First Quantum Marathon Gold Kirkland Lake Forsys Metals Golden Mnls Cameco Corp Entree Gold Potash Ridge Platinum Gp Mt St Augustine Serabi Gold Lydian Intl Orosur Mng Solitario Ex&R Silver Bull Re Anaconda Mng SouthGobi Res

TNX KOR AZZ FM MOZ KL FSY AUMN CCO ETG PRK PTM SAU SBI LYD OMI SLR SVB ANX SGQ

415 300 176 11153 1806 3991 68 25 8620 78 5401 1049 348 65 3130 135 64 1461 1209 56

TSX GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Franco-Nevada Kirkland Lake First Quantum Labrador Iron Teck Res Teck Res Cameco Corp Endeavour Mng Detour Gold Suncor Energy Agnico Eagle Caledonia Mng Nexa Resources Torex Gold Americas Silvr Barrick Gold Ero Copper Pan Am Silver Avesoro Res Endeavr Silver

0.87 0.73 0.83 + 20.3 3.00 2.65 3.00 + 13.2 0.27 0.23 0.27 + 12.5 20.10 17.45 20.06 + 12.4 1.01 0.85 1.00 + 12.4 24.07 21.67 24.05 + 10.3 0.11 0.10 0.11 + 10.0 0.57 0.49 0.57 + 9.6 15.01 13.14 14.45 + 9.3 0.52 0.47 0.51 + 8.5 0.11 0.08 0.08 - 23.8 0.26 0.21 0.21 - 23.6 0.03 0.03 0.03 - 16.7 0.07 0.06 0.06 - 14.3 0.44 0.34 0.37 - 14.1 0.09 0.08 0.08 - 11.8 0.59 0.51 0.53 - 11.7 0.22 0.19 0.19 - 11.6 0.41 0.34 0.36 - 11.3 0.15 0.00 0.13 - 10.3

VOLUME WEEK (000s) CLOSE CHANGE

FNV KL FM LIF TECK.B TECK.A CCO EDV DGC SU AEM CAL NEXA TXG USA ABX ERO PAAS ASO EDR

1857 94.72 3991 24.05 11153 20.06 1009 23.94 8826 33.26 12 33.30 8620 14.45 1222 23.16 13698 10.77 13874 49.39 2289 55.01 31 11.51 1 21.56 1115 12.85 195 4.65 8759 17.34 518 7.70 1062 21.27 7 4.72 1864 3.66

+ 3.00 + 2.25 + 2.21 + 1.71 + 1.39 + 1.28 + 1.23 + 0.96 + 0.72 + 0.48 - 1.44 - 0.89 - 0.81 - 0.55 - 0.37 - 0.33 - 0.30 - 0.27 - 0.27 - 0.24

TSX VENTURE EXCHANGE / APRIL 30–MAY 4 The S&P/TSX Venture Composite Index fell 1.47% to end the trading week at 772.24. The index has been on a three-week slide since mid-April, when it traded brief ly above 800 points. It spent the first three months of 2018 trading mostly above 800. Shares of Cobalt 27 rose 84¢ to $12.49. The company recently acquired a 1.5% gross revenue royalty on the Flemington cobalt-scandium-nickel project, 370 km west of Sydney, Australia, and held under option by Australian Mines. The project has a maiden resource of 2.7 million inferred tonnes grading 0.1% cobalt, with only 1% of the total project area tested so far. SRK Consulting, which finished the Flemington resource estimate in October 2017, determined the project’s mineralization continues from the orebody at Clean TeQ’s Sunrise nickel-cobalt project. Sunrise has 101 million measured and indicated tonnes grading 0.65% nickel and 0.1% cobalt for 660,000 tonnes nickel and 106,000 tonnes cobalt. The two projects are separated by a tenement boundary. Shares of Novo Resources rose 36¢ to $5.40. In April the company bulk sampled the Comet Well zone at its Karratha gold project in Western Australia’s Pilbara region for the first time. The company says

it found numerous gold nuggets, ranging from 3 mm to 2 cm. The company also noted that despite two stages of crushing, most nuggets remained intact and unscathed. It added that processing the bulk sample was taking longer than expected due to various complications, including unexpected rock hardness and more screening steps. The company expects its grade results by late May. Last year the company optioned its Tuscarora gold property in Nevada to A merica n Pacif ic Mining, which a nnounced in April that it had permission to drill. The company will begin a 19hole, staged drill program shortly. The property was last drilled by Newcrest in the late 1990s. TSX-V MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Cobalt Pwr Grp CPO 10247 Leeta Gold HIVE 8527 Gratomic GRAT 8057 Secova Mtls SEK 7963 Macarthur Mnl MMS 6718 Lincoln Mng LMG 5716 Mineral Mtn MMV 5692 Minera Alamos MAI 5436 GoviEx Uranium GXU 5054 Spearmint Res SRJ 4453

0.22 1.60 0.21 0.02 0.06 0.03 0.65 0.14 0.21 0.06

0.16 1.34 0.15 0.02 0.05 0.02 0.31 0.12 0.19 0.05

0.16 - 0.04 1.49 - 0.09 0.16 - 0.02 0.02 unch 0.00 0.05 + 0.01 0.02 - 0.01 0.34 - 0.31 0.13 - 0.01 0.20 - 0.01 0.05 - 0.01

Shares of Mineral Mountain Resources fell 47.7% to 34¢. The company recently reported results from three initial holes dropped into its Standby Mine gold target in the Rochford District of South Dakota’s Black Hills. In the latest assays, the company intercepted 2.8 grams gold per tonne over 6 metres from 330 metres downhole, 1.1 grams gold over 6.4 metres from 300

metres downhole and 2 grams gold over 3 metres from 100 metres downhole. The property also has three favourable historic drillholes, highlights of which include: 2.3 grams gold over 12 metres from 1,000 metres downhole, and 10.23 grams gold over 3 metres from 1,800 metres downhole. The company plans to drill nine more holes into the Standby target. TNM

TSX-V GREATEST PERCENTAGE CHANGE

Surge Explor Cicada Vents New Stratus Omineca Mg &Ml Ross River Indico Res Troymet Expl Diamond Fields Oroco Res Rainy Mtn Royl Eagle Graphite Black Dragon True North Gem Mineral Mtn Nitinat Mnls Lincoln Mng Jiminex Discovery-Corp Pele Mtn Res Carlin Gold

CPV CID NSE OMM RRM.H IDI TYE DFR OCO RMO EGA BDG TGX MMV NZZ LMG JIM.H DCY GEM CGD

15 16 608 393 1902 52 336 17 810 352 234 500 174 5692 1667 5716 4210 170 662 105

0.45 0.02 0.35 0.05 0.03 0.02 0.02 0.14 0.25 0.04 0.03 0.07 0.01 0.65 0.27 0.03 0.02 0.02 0.05 0.04

0.39 0.01 0.16 0.00 0.02 0.01 0.01 0.00 0.18 0.03 0.03 0.06 0.01 0.31 0.16 0.02 0.01 0.01 0.04 0.03

0.39 0.02 0.35 0.05 0.03 0.02 0.02 0.14 0.24 0.04 0.03 0.07 0.01 0.34 0.16 0.02 0.01 0.01 0.04 0.03

TSX-V GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

+ 102.6 + 100.0 + 84.2 + 80.0 + 66.7 + 50.0 + 50.0 + 42.1 + 41.2 + 40.0 - 90.7 - 69.0 - 50.0 - 47.7 - 44.6 - 40.0 - 33.3 - 33.3 - 30.0 - 28.6

VOLUME WEEK (000s) CLOSE CHANGE

Cobalt 27 Cap Novo Res Rock Tech Lith SilverCrest Mt Bluestone Res Surge Explor Intact Gold New Stratus Crystal Lake Fireweed Zinc Kitrinor Mtls Gold Reserve Hut 8 Mining Till Capital Chesapeake Gld Mineral Mtn Filo Mg Corp Eagle Graphite Aurania Res Sailfish Rylty

KBLT NVO RCK SIL BSR CPV ITG NSE CLM FWZ SCYB GRZ HUT TIL CKG MMV FIL EGA ARU FISH

1166 12.49 1000 5.40 172 1.49 966 2.47 33 1.45 15 0.39 472 0.70 608 0.35 807 0.66 209 1.64 733 4.10 85 2.83 175 4.02 1 4.10 131 2.22 5692 0.34 31 2.25 234 0.03 32 2.65 39 1.58

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

0.84 0.36 0.23 0.21 0.20 0.20 0.19 0.16 0.15 0.14 0.85 0.47 0.43 0.40 0.32 0.31 0.25 0.25 0.18 0.17

U.S. MARKETS / APRIL 30–MAY 4 Uncertainty about the future of the central bank’s monetary policy and concern about a U.S.-China trade war kept a lid on U.S. equities. The Dow Jones Industrial Average fell 48.68 points (0.20%) to finish at 24,262.51, while the S&P 500 Index lost 6.49 points (0.24%), falling to 2,663.42. Spot gold dropped US$7.60 per oz. (0.58%) to US$1,315 per ounce. Strong operational and financial results in its first quarter as an independent public company propelled Consol Energy to the top of the charts, rising 25.2%, or US$7.87, to US$39.08 per share. In the first quarter, the company posted net income and cash flow from operations of US$71 million and US$115.7 million. Total dilutive earnings came in at US$2.20 per share. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) reached US$150.3 million. The company also lowered debt and equity by US$26 million and US$1.3 million, respectively. “Our equity and debt are currently undervalued in the marketplace,” CEO Jimmy Brock said in a news release. “We deployed some of our free cash flow to opportunistically repurchase portions of every category of our debt and equity that

18_MAY14_MarketNews.indd 18

were issued or distributed in November 2017, as part of the spin-off process.” The company expects cash spending this year will decline US$10 million through lease conversions, and said next year it plans to invest US$20 million in efficiency improvement capital spending. Shares of Kirkland Lake Gold rose 8.5% to US$18.69, also on solid first-quarter results. The company reported net earnings of US$53.8 million (25¢ per share), up from US$13.1 million (6¢ per share) in the first quarter of last year, and US$41 million (20¢ per share) in fourth-quarter 2017. The comU.S. MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Frprt McMoR* FCX 91884 15.55 14.64 15.42 + 0.10 Vale* VALE 85450 14.17 13.40 14.08 + 0.13 Yamana Gold* AUY 73025 3.07 2.77 2.93 - 0.08 United States S* X 69632 34.77 31.37 34.52 + 2.15 Eldorado Gold* EGO 46014 1.04 0.93 1.01 + 0.06 Cleveland-Clif* CLF 44374 7.70 7.08 7.69 + 0.40 Barrick Gold* ABX 41163 13.66 13.26 13.47 - 0.30 Kinross Gold* KGC 41153 4.06 3.83 4.03 + 0.07 Chevron Corp* CVX 32759 127.90 123.08 125.53 - 1.09 Goldcorp* GG 28793 13.72 13.10 13.47 - 0.28

pany also posted record quarterly EBITDA of US$105.9 million, up from US$66.9 million in the same quarter in 2017, and US$103.9 million in fourth-quarter 2017. Free cash f low came in at US$50.2 million, versus US$38.5 million in the year-earlier quarter,

but was down from US$64.5 million in fourth-quarter 2017. Production increased to 147,644 oz. in the first quarter, up from 130,425 oz. in the same period of 2017, but down from the fourth quarter’s 165,579 oz. gold. TNM

U.S. GREATEST PERCENTAGE CHANGE

CONSOL Energy* CEIX CONSOL Coal Rs* CCR Kirkland Lake* KL Cameco Corp* CCJ Cloud Peak En* CLD United States S* X DRDGOLD* DRD Eldorado Gold* EGO Cleveland-Clif* CLF Alcoa* AA Trecora Res* TREC Intrepid Pots* IPI Endeavr Silver* EXK Buenaventura* BVN Vedanta* VEDL Nexa Resources* NEXA Sibanye Gold* SBGL Agnico Eagle* AEM Yamana Gold* AUY AngloGold Ash* AU

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

3169 39.30 30.27 39.08 + 25.2 193 16.20 14.70 16.15 + 9.9 3754 18.71 16.86 18.69 + 8.5 18792 11.67 10.22 11.24 + 8.3 3072 3.39 3.04 3.26 + 7.2 69632 34.77 31.37 34.52 + 6.6 558 2.57 2.23 2.50 + 6.6 46014 1.04 0.93 1.01 + 5.8 44374 7.70 7.08 7.69 + 5.5 15269 54.46 50.11 54.39 + 5.4 200 13.40 12.20 12.25 - 7.9 8645 4.75 4.26 4.29 - 6.9 8628 3.15 2.82 2.86 - 5.9 4538 16.20 15.10 15.23 - 4.8 2392 17.92 16.86 17.01 - 3.6 2571 17.94 16.50 17.22 - 3.4 10054 3.71 3.43 3.45 - 3.4 5288 43.47 41.13 42.74 - 2.8 73025 3.07 2.77 2.93 - 2.7 20405 9.38 8.74 8.90 - 2.5

U.S. GREATEST VALUE CHANGE

CONSOL Energy* CEIX MartinMarietta* MLM Alcoa* AA United States S* X Black Hills* BKH Franco-Nevada* FNV Peabody Enrgy* BTU ARCH Arch Coal* Kirkland Lake* KL CONSOL Coal Rs* CCR Agnico Eagle* AEM Chevron Corp* CVX Trecora Res* TREC Newmont Mng* NEM Buenaventura* BVN Natural Res Pt* NRP Vedanta* VEDL Nexa Resources* NEXA Intrepid Pots* IPI Southern Copp* SCCO

VOLUME WEEK (000s) CLOSE CHANGE

3169 39.08 4220 204.00 15269 54.39 69632 34.52 3009 58.95 2399 73.62 5597 37.87 2625 80.97 3754 18.69 193 16.15 5288 42.74 32759 125.53 200 12.25 24836 39.65 4538 15.23 239 33.35 2392 17.01 2571 17.22 8645 4.29 5112 52.96

+ 7.87 + 7.67 + 2.79 + 2.15 + 2.09 + 1.92 + 1.73 + 1.63 + 1.46 + 1.45 - 1.22 - 1.09 - 1.05 - 1.01 - 0.77 - 0.65 - 0.63 - 0.61 - 0.32 - 0.31

2018-05-08 8:08 PM

GLOBAL MINING NEWS · SINCE 1915

THE NORTHERN MINER / MAY 14–27, 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, May 8, 2018 Precious Metals Gold Silver Platinum Palladium Base Metals Nickel Copper Lead Zinc

TSX WARRANTS

PRODUCER AND DEALER PRICES

SPOT PRICES COURTESY OF SCOTIABANK Price (US$/oz.) Change 1309.35 -8.35 $16.42 -0.12 $899.00 -9.00 $965.00 -17.00 Price (US$/tonne) Change $13900.00 -140.00 $6814.50 -81.00 $2293.00 -30.00 $3075.00 +5.00

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, May 3, 2018 (change from April 26, 2018 in brackets): Aluminium Alloy 11920 (0) Aluminium 1319300 (-43450) Copper 316400 (-25850) Lead 131650 (+1850) Nickel 315696 (+6102) Tin 2225 (+45) Zinc 236775 (+8625)

Thermal Coal CAPP: US$40.00 per short ton Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$60.40 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$12.45 Cobalt: US$40.37/lb. Copper: US$3.08/lb. Copper: CME Group Futures June 2018: US$3.06/lb.; July 2018: US$3.07/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$1040.00/tr oz. Iron Ore 62% Fe CFR China-S: US$67.00/tonne Iron Ore Fines: US$71.00/tonne Iron Ore Pellets: US$108.60/tonne Lead: US$1.03/lb. Magnesium: US$2.25/kg Manganese: US$2.04/kg Molybdenum Oxide: US$11.79/lb. Phosphate Rock: US$86.00/tonne Potash: US$226.00/tonne Rhodium: Mid-mkt US$2,030.00 tr. oz. Ruthenium: Mid-mkt US$250.00/tr. oz. Silver: Handy & Harman Base: US$16.51 per oz.; Handy & Harman Fabricated: US$20.63 per oz. Tantalite Ore : US$158.90/kg Tin: US$9.70/lb. Uranium: U3O8, Trade Tech spot price: US$21.00; The UX Consulting Company spot price: US$21.00/lb. Zinc: US$1.35/lb. Prices current May 7, 2018

NORTH AMERICAN STOCK EXCHANGE INDICES

52-week

IndexName May 04 May 03 May 02 May 01 Apr 30 High Low S&P/TSX Composite 15729.40 15621.47 15627.93 15618.93 15607.88 15527.30 12400.15 S&P/TSXV Composite 772.24 771.25 772.11 775.46 783.63 1050.26 883.52 S&P/TSX 60 929.73 922.48 922.76 922.58 921.43 896.74 709.99 S&P/TSX Global Gold 191.58 191.50 189.84 189.46 188.16 218.90 149.29 DJ Precious Metals 166.99 166.99 165.64 165.04 164.50 420.72 130.95

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of Apr 16, 2018 (with changes from Apr 02, 2018) Largest short positions Eldorado Gold ELD 20580397 539978 4/2/2018 Ivanhoe Mines IVN 16520465 634875 4/2/2018 Sandstorm Gold SSL 15542484 -195323 4/2/2018 Suncor Energy SU 10377927 1915487 4/2/2018 Turquoise HIl TRQ 9487873 -2478442 4/2/2018 First Majestic FR 8902366 -70777 4/2/2018 McEwen Mng MUX 8123408 57538 4/2/2018 Nevsun Res NSU 7464206 -122811 4/2/2018 OceanaGold OGC 7078479 -1377698 4/2/2018 First Quantum FM 6570601 -532871 4/2/2018 Alacer Gold ASR 6462662 90521 4/2/2018 Goldcorp G 6266198 857665 4/2/2018 New Gold NGD 6220176 402561 4/2/2018 Osisko Gold OR 5999468 174406 4/2/2018 Yamana Gold YRI 5956013 -572098 4/2/2018 Largest increase in short position Suncor Energy SU 10377927 1915487 4/2/2018 Barrick Gold ABX 5517871 1333733 4/2/2018 Kerr Mines KER 1193424 1185124 4/2/2018 Kinross Gold K 4877938 1009305 4/2/2018 Goldcorp G 6266198 857665 4/2/2018 Largest decrease in short position Taseko Mines TKO 124417 -3269463 4/2/2018 Turquoise HIl TRQ 9487873 -2478442 4/2/2018 OceanaGold OGC 7078479 -1377698 4/2/2018 Centamin CEE 500 -1107400 4/2/2018 Asanko Gold AKG 2486695 -876524 4/2/2018

Short positions outstanding as of Apr 16, 2018 (with changes from Apr 02, 2018) Largest short positions Leeta Gold HIVE 12557008 -70646 4/2/2018 SilverCrest Mt SIL 2340553 8253 4/2/2018 First Cobalt FCC 1834600 457391 4/2/2018 Atlantic Gold AGB 1589987 6582 4/2/2018 Revelo Res RVL 1234000 1234000 4/2/2018 Saville Res SRE 678700 678700 4/2/2018 Alexandria Min AZX 652100 652100 4/2/2018 ML Gold Corp MLG 643000 580581 4/2/2018 Bankers Cobalt BANC 576200 353844 4/2/2018 Core Gold CGLD 549403 474700 4/2/2018 Cobalt 27 Cap KBLT 522745 81989 4/2/2018 Altamira Gold ALTA 500500 398725 4/2/2018 GGX Gold GGX 470200 380000 4/2/2018 Latin Am Mnls LAT 398000 398000 4/2/2018 Gold Finder Ex VENZ 373500 118800 4/2/2018 Largest increase in short position Revelo Res RVL 1234000 1234000 4/2/2018 Saville Res SRE 678700 678700 4/2/2018 Alexandria Min AZX 652100 652100 4/2/2018 ML Gold Corp MLG 643000 580581 4/2/2018 Core Gold CGLD 549403 474700 4/2/2018 Largest decrease in short position Belmont Res BEA 6600 -584000 4/2/2018 Cobalt Pwr Grp CPO 65000 -435200 4/2/2018 Noble Mnl Expl NOB 26079 -433900 4/2/2018 Brixton Mtls BBB 10421 -389779 4/2/2018 Berkwood Res BKR 849 -288264 4/2/2018

DAILY METAL PRICES Daily Metal Prices Date May 7 May 4 May 3 May 2 May 1 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) N/A 1880/1890 1915/1925 1915/1925 1915/1925 Al Alloy Aluminum N/A 2315/2306 2368/2269.50 2257.50/2252 2223/2225 Copper N/A 6782/6818 6784.50/6818 6777/6820 6781/6820 N/A 2272/2272 2319/2324 2335/2333 2343/2338 Lead Nickel N/A 13830/13875 13910/13960 13605/13670 13720/13765 Tin N/A 21350/21225 21260/21150 21395/21205 21390/21175 Zinc N/A 2967/2975 3065/3077 3100/3110 3170.50/3170 PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.) Gold AM N/A 1309.35 1313.30 1310.75 1309.20 Gold PM N/A 1309.40 1315.05 1304.20 1307.10 Silver N/A 16.42 16.47 16.35 16.25 Platinum N/A 901.00 902.00 897.00 899.00 Palladium N/A 963.00 971.00 968.00 952.00

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

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

Millennial Lithium Corp. (ML.WT) - One warrant to purchase one common share at $4.25 per share. 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 Vision Lithium Inc. (VLI.WT) - One warrant to purchase one common share at $0.15 per share. West Kirkland Mining (WKM.WT) - Wt buys sh @ $0.3 to Apr 17/19

NEW 52-WEEK HIGHS AND LOWS MARCH 19–23, 2018 53 New Highs Advance Gold Aethon Mineral Black Tusk Res Bryn Res* Cameco Corp Cameco Corp* Cerro Mng* Contact Mnrls* Contintl Prec Corvus Gold Corvus Gold* Discovery Gold* Excelsior Mng* First Energy First Energy* First Point* Fission 3.0 Gold Resource* Golden Share*

Goldplay Expl Gunpoint Expl Intact Gold Interconnect Intercontinent Intercontinent* Kirkland Lake Kirkland Lake* Laurion Mnl Ex Lynas Corp* Margaret Lake Margaret Lake* Midland Expl Namibia Rare E* Nevsun Res Nevsun Res* New Energy Met* Newport Expl NovaGold Res NovaGold Res* Oroco Res

Oroco Res* Pac Link Mng Pac Wildcat* Rokmaster Res Signature Res* Stelmine Can * Strongbow Expl* Tanzania Rlty Tanzania Rlty* Teranga Gold UC Res* Volt Energy* Westhaven Vent*

66 New Lows

Meridian Mg * 92 Resources* Allegiant Gold Amani Gold* Angkor Gold AngloGold Ash* Balmoral Res*

Barkerville Go Barkerville Go* Bearing Lith Belo Sun Mng Calibre Mng Callinex Mines Callinex Mines* Canada Cobalt Cartier Res Cda Carbon Chalice Gold M Columbus Gold Columbus Gold* Core Lithium* Danakali* Desert Lion Detour Gold DRDGOLD* El Capitan Prc* Enforcer Gold Falco Res

Fiore Gold Fiore Gold* Focus Graphite* Fura Gems* Gldn Predator Gldn Predator* Graphite Egy* Group Eleven Infinite Lith Intl Samuel Ex* Ivanhoe Mines Kitrinor Mtls Liberty Gold* LiCo Energy* Marathon Gold* MartinMarietta* Minera Alamos New Energy Met* New Pac Metals New Tech Lith Pacific Rim

Pacific Rim* Parlane Res Pelangio Expl* Platinum Gp Mt* Pure Nickel* Rathdowney Res Resource Cap Solitario Ex&R* Southern Silvr* Teslin Rvr Res Tonogold Res* U.S. Lithium* Uranium Res* Valley High Mg* Vision Lithium* Wealth Mnrls Wealth Mnrls*

CANADIAN GOLD MUTUAL FUNDS Fund May 04 ($) Apr 27 ($) AGF Prec Mtls Fd MF 20.09 19.98 BMO Prec Mtls Fd A 18.29 17.98 9.21 9.14 BMO ZGD BMO ZJG 9.32 9.16 CIBC Prec Metal Fd A 9.64 9.59 Dyn Prec Metls Fd A 6.62 6.60 Galileo GOGO 10.67 10.52 Horizons HEP 23.62 23.58 IG Mac GbPMetCl A 8.49 8.43 iShares XGD 11.99 12.02 Mac Prec Met Cl A 45.18 44.86 NBI PrecMetFd Invt 11.78 11.71 34.52 34.29 NPT Gold&PrMinFdA NPT SilverEquCl A 5.38 5.44 RBC GblPreMetFd A 31.46 31.28 Redw UITGoDe&ProCl A Sentry Pre Met Fd A 38.23 37.70 32.62 32.52 TD PreciousMetalsInv

Change ($) Change (%) YTDChange (%) MER (%) TotalAssets (M$) 0.11 0.55 -6.15 2.81 111.25 0.31 1.74 -3.42 2.40 59.60 0.07 0.78 -6.53 0.61 0.16 1.79 -1.27 0.60 0.05 0.50 -7.54 2.58 43.77 0.02 0.30 -5.14 2.66 341.32 0.14 1.35 0.04 0.17 -3.16 0.81 0.06 0.69 -6.01 2.75 35.52 -0.03 -0.23 -4.35 0.55 759.28 0.32 0.71 -6.12 2.52 78.17 0.07 0.60 -10.13 2.46 26.46 0.22 0.64 -6.63 2.96 143.62 -0.06 -1.08 -5.68 3.36 117.94 0.18 0.57 -8.56 2.13 319.62 0.00 0.00 0.53 1.41 -5.48 2.44 147.57 0.10 0.31 -6.45 2.27 111.30

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

May 04 May 03 May 02 May 01 Apr 30 1.2851 1.2851 1.2876 1.2847 1.2837 0.7782 0.7782 0.7766 0.7784 0.7790

Exchange rates (Quote Media, May 04, 2018) C$ to AUS C$ to EURO C$ to YEN C$ to Mex Peso C$ to SA Rand 1.0335 0.6492 84.9480 14.8332 9.8060 C$ to UK Pound C$ to China Yuan C$ to India Rupee C$ to Swiss Franc C$ to S. Korea Won 0.5734 4.9446 51.8770 0.7764 836.7269 US to AUS US to EURO US to YEN US to Mex Peso US to SA Rand 1.3281 0.8343 109.1650 19.0618 12.6007 US to UK Pound US to China Yuan US to India Rupee US to Swiss Franc US to S. Korea Won 0.7369 6.3547 66.6700 0.9978 1075.1300

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_MAY14_MMMM.indd 19

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

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

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

GLOBAL MINING NEWS · SINCE 1915

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2018-05-08 6:34 PM

WWW.NORTHERNMINER.COM

MAY 14–27, 2018 / THE NORTHERN MINER

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: APRIL 30–MAY 4, 2018 (100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

A 37 Capital 1 60 North Gold 163 O 27 92 Resources* 92 Resources V 694 Abacus Mng &Ex V 407 Abacus Mng &Ex* O 496 Abcourt Mines V 163 Abcourt Mines* O 250 Aben Res* O 106 Aben Res V 853 Aberdeen Intl* O 107 Aberdeen Intl T 111 O 2 Abitibi Royalt* Abitibi Royalt V 13 AbraPlata Res* O 172 V 291 AbraPlata Res Abzu Gold* O 80 Adamera Mnls V 427 Adamera Mnls* O 908 Adex Mining V 80 Advance Gold V 95 O 90 Advanced Expl* Advantage Lith V 1229 Advantage Lith* O 443 Adventus Zinc V 7 Aethon Mineral V 23 Affinity Gold* O 73 African Gold V 332 African Mnrls* O 1081 V 270 Aftermath Slvr Aftermath Slvr* O 75 Agnico Eagle* N 5288 Agnico Eagle T 2289 AgriMinco* O 5 Aguia Resource V 265 Aguila Amer Gd V 3 Aguila Amer Gd* O 3 Aida Minerals 155 Alabama Graph* O 42 Alabama Graph V 205 Alacer Gold T 2487 Alamos Gold T 4009 Alamos Gold* N 7174 Alaska Pac Egy* O 38912 Alba Minerals* O 32 Albert Mining V 522 O 361 Albert Mining* Alchemist Mng 1476 Alcoa* N 15269 Alderon Iron* O 15 Alderon Iron T 353 V 8 Aldershot Res Aldever Res* O 6 Aldever Res V 96 Aldridge Min* O 315 Aldridge Min V 1000 Alexandra Cap 105 Alexandra Cap* O 4 Alexandria Min* O 270 V 997 Alexandria Min Alexco Res* X 1273 Alexco Res T 317 Algold Res* O 447 Algold Res V 277 Alianza Min V 183 Alianza Min* O 1 Allante Potash V 40 Allegiant Gold V 214 O 178 Allegiant Gold* Alliance Mng V 850 Alliance Res* D 3174 Almaden Mnls T 61 Almaden Mnls* X 590 Almadex Min V 290 Almadex Min* O 472 Almonty Ind V 510 Alphamin Res V 68 Alphamin Res * O 40 V 209 Alset Minerals Alset Minerals* O 2 Altai Res V 92 Altair Res Inc* O 1 Altair Res Inc V 804 Altamira Gold V 717 Altamira Gold* O 198 Altan Nev Mnls V 250 Altan Rio Mnls V 690 V 231 Altiplano Mnls Altiplano Mnls* O 35 Altitude Res V 44 Altius Mnrls T 159 Alto Vent V 601 Altura Mng Ltd* O 285 Alturas Mnrls V 75 Alumina Inc* O 94 ALX Uranium V 856 ALX Uranium* O 9 Am Creek Res V 424 Am CuMo Mng* O 58 Am CuMo Mng V 445 Am Manganese* O 336 Am Manganese V 711 Am Sierra Gold* O 3 Amador Gold* O 1 Amani Gold* O 20 Amarc Res V 26 Amarc Res* O 23 Amarillo Gold V 88 O 141 Amazing Energy* Amer Intl Vent* O 376 American Lith V 102 American Lith* O 7 American Pac* O 45 American Pac 567 Americas Silvr* X 263 Americas Silvr T 195 Amerigo Res T 391 Amerigo Res* O 153 Amex Expl V 157 Anaconda Mng T 1209 Anaconda Mng* O 562 Anconia Res V 711 Andes Gold* O 74 O 287 Anfield Energy* Anfield Energy V 558 Angel Gold* O 114 Angel Gold V 120 Angkor Gold V 375 Anglo American* O 4 Anglo American* O 249 Anglo-Bomarc V 10 AngloGold Ash* O 1 AngloGold Ash* N 20405 Angus Ventures V 8 Antioquia Gold* O 0 Antioquia Gold V 681 Antler Gold V 103 Antler Hill V 187 Antofagasta* O 3 APAC Res Inc 164 Apex Res V 57 O 4 Apex Res * Apogee Opport * O 2 Apogee Opport V 32 Appia Energy 136 Appia Energy* O 71 Applied Mrnls* O 274 Aquila Res* O 415 Aquila Res T 370 Arch Coal* N 2625 Archon Mineral V 5 Arco Res* O 149 Arctic Star* O 46 Arctic Star V 2823 Arcturus Vent V 20 Arcus Dev Grp V 58 Arena Mnls V 25 Arena Mnls* O 11 Argentina Lith* O 28 Argentina Lith V 125 Argex Titanium T 681 Argex Titanium* O 47

20-23_MAY14_StockTables.indd 20

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(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Argo Gold* O 784 Argo Gold 869 Argonaut Gold* O 136 T 1666 Argonaut Gold Argus Metals* O 7 Argus Metals V 457 Arian Silver* O 1034 O 69 Arianne Phosph* Arianne Phosph V 322 Arizona Mng* O 103 Arizona Mng T 671 Arizona Silver V 568 Arizona Silver* O 36 Armor Mnrls V 24 Arrowstar Res V 41 Asanko Gold T 1523 Asanko Gold* X 2565 Asante Gold 73 Asbestos Corp V 5 Ascot Res V 120 Ascot Res * O 6 V 71 Ashanti Sanko Ashburton Vent* O 5 V 273 Ashburton Vent Asiamet Res* O 3 Asian Minl Res V 484 Aston Bay* O 93 Aston Bay V 1017 Astorius Res V 148 ATAC Res V 620 Atacama Pacif V 139 O 5 Atacama Pacif* Atacama Res* O 10443 O 65 Athabasca Mnls* Athabasca Mnls V 235 O 50 Athena Silver* Atico Mng* O 101 Atico Mng V 83 Atlanta Gold* O 0 Atlanta Gold V 9 Atlantic Gold V 774 Atlantic Ind V 238 Atlatsa Res* O 666 Atlatsa Res T 884 Atom Energy * O 0 Atom Energy V 1 Aton Res Inc V 377 50 Aton Res Inc* O Aura Mnls* O 28 Aura Mnls T 36 Aura Silver Rs V 198 Auramex Res V 340 Aurania Res* O 35 Aurania Res V 32 Aurcana Corp V 526 O 281 Aurcana Corp* AurCrest Gold V 337 30 Aurion Res * O Aurion Res V 89 Aurora Royal V 551 Auryn Res* X 337 Auryn Res T 237 Austin Res V 25 Austral Gold* O 42 Austral Gold V 70 O 64 Australian Mns* Auxico Res 206 Avalon Adv Mat T 716 Avalon Adv Mat* O 299 Avarone Metals 142 Avesoro Res T 7 Avidian Gold V 396 Avino Silver* X 453 Avino Silver T 38 Avrupa Mnls* O 81 Avrupa Mnls V 702 Awale Res V 58 AXE Expl V 589 Axmin Inc V 180 Axmin Inc* O 34 Azarga Metals V 23 O 2 Azarga Metals* Azarga Uranium* O 23 Azarga Uranium T 176 Aziel Corp* O 0 Azimut Expl V 340 V 433 Azincourt Ener Azincourt Ener* O 72 V 42 Aztec Minerals Aztec Minerals* O 29 Azteca Gold* O 447

0.09 0.09 0.09 unch 0.00 0.16 0.09 0.14 0.11 0.14 + 0.01 0.26 0.11 1.98 1.82 1.95 + 0.13 2.40 1.31 2.55 2.33 2.48 + 0.04 2.92 1.76 0.15 0.00 0.15 unch 0.00 0.55 0.06 0.21 0.19 0.19 - 0.01 0.75 0.08 0.00 0.00 0.00 - 0.00 0.02 0.00 0.45 0.41 0.43 + 0.04 0.73 0.39 0.57 0.51 0.55 + 0.02 0.95 0.44 3.40 3.02 3.26 + 0.01 5.90 1.41 4.20 4.02 4.20 + 0.05 4.87 1.93 0.18 0.13 0.18 + 0.05 1.23 0.11 0.13 0.10 0.13 + 0.03 0.91 0.08 0.45 0.00 0.45 - 0.01 0.55 0.32 0.09 0.07 0.07 - 0.01 0.09 0.03 1.57 1.35 1.56 + 0.12 3.38 0.55 1.22 1.06 1.21 + 0.09 2.47 0.43 0.05 0.05 0.05 unch 0.00 0.15 0.05 0.70 0.70 0.70 unch 0.00 0.90 0.20 1.23 1.09 1.12 - 0.06 2.10 1.08 0.94 0.88 0.88 - 0.03 1.56 0.87 0.04 0.03 0.04 + 0.01 0.05 0.02 0.05 0.05 0.05 unch 0.00 0.16 0.05 0.08 0.07 0.08 + 0.01 0.24 0.06 0.12 0.12 0.12 unch 0.00 0.19 0.05 0.01 0.01 0.01 unch 0.00 0.05 0.01 0.15 0.12 0.12 - 0.03 0.20 0.09 0.20 0.16 0.17 - 0.02 0.29 0.10 0.07 0.06 0.07 + 0.01 0.20 0.06 0.57 0.55 0.56 + 0.01 0.89 0.46 0.63 0.57 0.61 + 0.03 0.83 0.41 0.46 0.46 0.46 unch 0.00 0.66 0.30 0.00 0.00 0.00 - 0.00 0.40 0.00 0.16 0.14 0.15 unch 0.00 0.20 0.09 0.20 0.15 0.17 - 0.01 0.27 0.12 0.06 0.06 0.06 unch 0.00 0.33 0.02 0.50 0.46 0.48 + 0.02 0.71 0.40 0.64 0.59 0.60 - 0.05 0.91 0.51 0.00 0.00 0.04 unch 0.00 0.06 0.03 0.05 0.00 0.05 unch 0.00 0.08 0.04 1.88 1.79 1.83 - 0.04 1.97 1.30 0.02 0.01 0.02 - 0.01 0.09 0.01 0.03 0.03 0.03 unch 0.00 0.05 0.01 0.05 0.04 0.04 unch 0.00 0.07 0.02 0.00 0.00 0.15 unch 0.00 0.26 0.04 0.00 0.00 0.32 unch 0.00 0.40 0.05 0.04 0.04 0.04 unch 0.00 0.05 0.03 0.04 0.04 0.04 unch 0.00 0.04 0.02 1.68 0.00 1.68 + 0.06 2.38 1.03 2.20 2.05 2.15 unch 0.00 3.00 1.30 0.03 0.03 0.03 unch 0.00 0.10 0.02 0.07 0.07 0.07 unch 0.00 0.10 0.03 2.40 2.01 2.05 - 0.06 6.06 1.40 2.84 2.65 2.65 - 0.18 7.57 1.51 0.26 0.23 0.24 - 0.02 0.42 0.17 0.20 0.17 0.19 - 0.01 0.30 0.13 0.04 0.00 0.03 unch 0.00 0.04 0.02 0.54 0.52 0.52 - 0.01 2.82 0.52 0.73 0.67 0.73 + 0.04 3.49 0.67 0.10 0.09 0.10 + 0.01 0.24 0.03 1.38 1.28 1.30 - 0.02 3.00 1.24 1.73 1.64 1.67 - 0.02 3.60 1.62 0.02 0.02 0.02 - 0.01 0.04 0.01 0.11 0.05 0.05 - 0.03 0.16 0.05 0.11 0.11 0.11 unch 0.00 0.18 0.10 0.09 0.06 0.06 - 0.01 0.13 0.06 0.27 0.22 0.23 - 0.01 0.45 0.20 0.13 0.12 0.12 - 0.01 0.16 0.11 0.10 0.09 0.10 + 0.01 0.13 0.08 0.09 0.08 0.09 unch 0.00 0.14 0.02 4.78 4.67 4.72 - 0.27 5.32 2.50 0.60 0.55 0.59 - 0.01 0.70 0.20 1.48 1.38 1.42 - 0.01 1.89 1.14 1.91 1.75 1.80 - 0.01 2.35 1.44 0.08 0.07 0.08 + 0.00 0.10 0.05 0.11 0.09 0.10 + 0.02 0.13 0.06 0.21 0.18 0.19 - 0.02 0.48 0.14 0.05 0.05 0.05 - 0.01 0.17 0.02 0.11 0.08 0.11 + 0.02 0.11 0.03 0.07 0.07 0.07 - 0.01 0.07 0.02 0.12 0.00 0.12 + 0.01 0.21 0.11 0.09 0.00 0.09 + 0.03 0.16 0.06 0.18 0.18 0.18 - 0.01 0.25 0.14 0.27 0.23 0.27 + 0.03 0.32 0.18 0.00 0.00 1.70 unch 0.00 9.10 0.60 0.40 0.34 0.37 - 0.04 0.48 0.26 0.11 0.09 0.10 unch 0.00 0.37 0.05 0.09 0.00 0.08 + 0.01 0.23 0.03 0.25 0.21 0.23 unch 0.00 0.65 0.20 0.20 0.17 0.18 + 0.01 0.30 0.15 0.00 0.00 0.00 unch 0.00 0.00 0.00

B2Gold* X 10421 B2Gold T 9610 Balmoral Res T 896 Balmoral Res* O 350 Balto Res V 76 Bandera Gold * O 15 Bandera Gold V 21 Bankers Cobalt* O 513 V 3250 Bankers Cobalt Bannerman Res* O 120 Banyan Gold V 482 Bard Ventures V 11 Barker Mnrls V 251 Barkerville Go* O 882 Barkerville Go V 2730 Baroyeca Go&Si V 545 Barrick Gold T 8759 Barrick Gold* N 41163 Barsele Min* O 8 Barsele Min V 138 Batero Gold V 293 O 185 Bayhorse Silvr* Bayhorse Silvr V 540 O 75 Bayswater Uran* Bayswater Uran V 990 BC Moly V 10 BCM Res V 172 V 20 BE Res Bear Creek Mng V 970 Bearclaw Cap V 321 Bearing Lith V 246 Bearing Lith* O 125 Beaufield Res V 230 O 30 Beaufield Res* Beeston Ent* O 356 Bell Copper* O 150 Belmont Res V 773 Belo Sun Mng T 1849 Belvedere Res V 29 O 0 Belvedere Res* BeMetals V 489 Benton Res V 233 Benz Mining V 289 O 19 Berkeley Egy* Berkwood Res * O 23 V 1034 Berkwood Res Big Wind Cap 795 Bitterroot Res V 449 Bitterroot Res* O 25 Black Dragon V 500 Black Dragon* O 40 Black Hills* N 3009 Black Iron T 117 50 Black Isle Res V Black Isle Res* O 2 17 Black Mam Mtls V Black Sea Cop* O 5 Black Sea Cop V 103 Black Tusk Res 118 V 576 Blackheath Res Blackrock Gold V 173 O 34 Blackrock Gold* Blind Crk Res V 84 BLOX Inc* O 0 Blue Moon Zinc V 503 88 Blue Moon Zinc* O Blue Rvr Res V 2783 63 Blue Sky Uran* O Blue Sky Uran V 233 V 385 Bluenose Gold Bluestone Res* O 8

2.92 2.77 2.83 - 0.03 3.30 2.15 3.74 3.57 3.66 - 0.04 4.06 2.96 0.22 0.21 0.22 unch 0.00 0.74 0.21 0.18 0.15 0.17 + 0.00 0.57 0.15 0.12 0.12 0.12 unch 0.00 0.38 0.02 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.04 0.04 0.04 - 0.01 0.10 0.03 0.14 0.07 0.11 - 0.03 0.68 0.03 0.18 0.13 0.15 - 0.02 0.85 0.11 0.04 0.03 0.04 + 0.00 0.06 0.02 0.07 0.07 0.07 + 0.01 0.15 0.06 0.05 0.05 0.05 unch 0.00 0.08 0.02 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.53 0.43 0.48 - 0.05 1.03 0.43 0.67 0.55 0.62 - 0.05 1.39 0.55 0.02 0.02 0.02 unch 0.00 0.04 0.01 17.59 17.04 17.34 - 0.33 23.66 14.26 13.66 13.26 13.47 - 0.30 18.35 11.07 0.65 0.63 0.63 + 0.00 0.72 0.42 0.84 0.81 0.82 - 0.03 1.03 0.53 0.08 0.08 0.08 unch 0.00 0.12 0.08 0.15 0.12 0.14 - 0.00 0.22 0.10 0.19 0.16 0.17 - 0.01 0.27 0.14 0.02 0.01 0.02 unch 0.00 0.03 0.01 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.08 0.00 0.08 unch 0.00 0.16 0.04 0.13 0.10 0.13 + 0.01 0.25 0.08 0.06 0.05 0.06 + 0.01 0.08 0.04 2.12 1.92 2.04 - 0.03 2.74 1.64 0.05 0.05 0.05 + 0.01 0.06 0.03 0.43 0.37 0.38 - 0.05 1.06 0.37 0.32 0.29 0.30 - 0.04 0.81 0.29 0.11 0.10 0.10 - 0.01 0.28 0.09 0.08 0.08 0.08 - 0.00 0.21 0.07 0.00 0.00 0.00 - 0.00 0.00 0.00 0.05 0.05 0.05 unch 0.00 0.16 0.04 0.05 0.04 0.05 unch 0.00 0.08 0.02 0.30 0.25 0.27 - 0.03 0.71 0.26 0.73 0.70 0.72 - 0.01 0.96 0.15 0.00 0.00 0.19 unch 0.00 0.19 0.04 0.20 0.16 0.20 unch 0.00 0.32 0.15 0.07 0.06 0.06 - 0.01 0.10 0.05 0.10 0.09 0.10 + 0.01 0.47 0.09 0.62 0.58 0.59 + 0.01 0.88 0.52 0.13 0.09 0.12 - 0.00 0.44 0.09 0.15 0.12 0.15 unch 0.00 0.55 0.12 0.46 0.34 0.43 + 0.06 1.05 0.11 0.06 0.05 0.06 + 0.01 0.28 0.04 0.05 0.04 0.05 + 0.00 0.24 0.04 0.07 0.06 0.07 - 0.15 0.39 0.09 0.05 0.05 0.05 unch 0.00 0.11 0.02 59.40 56.54 58.95 + 2.09 72.02 50.49 0.10 0.09 0.09 + 0.01 0.17 0.08 0.05 0.04 0.05 + 0.01 0.06 0.03 0.03 0.03 0.03 unch 0.00 0.04 0.02 0.12 0.11 0.11 - 0.01 0.25 0.06 0.08 0.00 0.08 - 0.00 0.18 0.05 0.11 0.00 0.10 - 0.01 0.23 0.08 0.29 0.19 0.22 + 0.02 0.29 0.12 0.04 0.03 0.03 - 0.01 0.08 0.03 0.14 0.10 0.12 + 0.02 0.16 0.05 0.11 0.08 0.10 + 0.01 0.12 0.04 0.18 0.16 0.18 - 0.02 0.38 0.16 0.25 0.00 0.23 - 0.02 0.30 0.03 0.08 0.08 0.08 unch 0.00 0.14 0.03 0.07 0.05 0.05 - 0.00 0.11 0.02 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.13 0.11 0.11 - 0.00 0.25 0.08 0.17 0.15 0.15 - 0.01 0.32 0.10 0.12 0.00 0.12 + 0.02 0.15 0.00 1.08 0.99 1.08 + 0.09 1.35 0.86

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Bluestone Res V 33 Bold Vent V 80 Bonanza Gldfds* O 1831 BonTerra Res V 504 BonTerra Res* O 264 Boreal Metals V 593 Borneo Res Inv* O 14058 Bravada Gold V 292 Bravada Gold* O 168 V 99 Braveheart Res Bravo Multinat* O 175 Brazil Mnrls* O 4856 Brigadier Gold V 352 O 572 BrightRock Gld* Brilliant Sand* O 50 Brio Gold T 54 Britannia Mng* O 4 Brixton Mtls V 349 Brixton Mtls* O 251 O 31 Broadway Gold* Broadway Gold V 45 O 335 Brookmount Exp* Brunswick Res V 80 Bryn Res* O 501 Buccaneer Gold V 22 Buenaventura* N 4538 Buffalo Coal V 652 O 355 Bullfrog Gold* Bunker Hill 21 BWR Explor V 901

1.46 1.25 1.45 + 0.20 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 0.00 0.00 0.52 0.49 0.50 - 0.01 0.72 0.38 0.41 0.38 0.40 + 0.00 0.57 0.28 0.22 0.20 0.21 - 0.01 0.40 0.20 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.10 0.08 0.09 + 0.01 0.26 0.08 0.07 0.07 0.07 + 0.01 0.20 0.06 0.10 0.08 0.08 - 0.01 0.12 0.04 0.21 0.10 0.15 + 0.03 3.49 0.11 0.00 0.00 0.00 + 0.00 0.04 0.00 0.20 0.14 0.15 - 0.04 0.26 0.08 0.00 0.00 0.00 + 0.00 0.00 0.00 0.05 0.05 0.05 unch 0.00 0.12 0.01 2.68 2.50 2.60 + 0.06 3.29 1.54 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.23 0.20 0.23 + 0.01 0.49 0.20 0.18 0.16 0.18 + 0.01 0.39 0.15 0.16 0.00 0.16 + 0.01 0.68 0.14 0.20 0.00 0.20 + 0.02 0.85 0.19 0.01 0.01 0.01 - 0.00 0.13 0.00 0.04 0.04 0.04 + 0.01 0.05 0.02 0.01 0.00 0.01 + 0.00 0.01 0.00 0.15 0.15 0.15 unch 0.00 0.18 0.03 16.20 15.10 15.23 - 0.77 16.80 10.87 0.02 0.00 0.02 - 0.01 0.03 0.01 0.10 0.08 0.09 - 0.01 0.18 0.05 1.55 1.49 1.53 - 0.02 3.15 1.15 0.07 0.05 0.06 unch 0.00 0.10 0.04

C Cabral Gold V 17 0.38 0.33 0.36 - 0.02 0.50 0.28 Cabral Gold* O 11 0.30 0.29 0.29 - 0.01 0.32 0.26 0.04 Cache Expl V 417 0.06 0.04 0.05 - 0.01 0.31 O 1 1.72 0.00 1.72 + 0.01 5.31 1.63 Cadence Min* Cadillac Vent* O 5 0.03 0.03 0.03 unch 0.00 0.04 0.02 Cadillac Vent V 46 0.04 0.04 0.04 unch 0.00 0.06 0.03 X 53 9.66 8.67 9.02 - 0.67 9.94 0.06 Caledonia Mng* Caledonia Mng T 31 12.49 11.33 11.51 - 0.89 12.50 6.70 Calibre Mng V 323 0.08 0.07 0.07 - 0.01 0.20 0.07 California Gld V 243 0.26 0.23 0.25 - 0.01 0.64 0.21 0.16 California Go* O 74 0.20 0.18 0.20 - 0.00 0.49 V 493 0.27 0.24 0.24 - 0.03 0.48 0.24 Callinex Mines Callinex Mines* O 232 0.20 0.18 0.19 - 0.00 0.39 0.19 Cameco Corp* N 18792 11.67 10.22 11.24 + 0.86 11.67 7.68 Cameco Corp T 8620 15.01 13.14 14.45 + 1.23 15.01 9.90 0.34 Cameo Res* O 477 0.89 0.67 0.78 - 0.09 1.11 Cameo Res V 760 1.14 0.88 1.01 - 0.16 1.60 0.30 O 5 0.21 0.20 0.21 - 0.01 1.20 0.20 Camino Mnls* Camino Mnls V 598 0.30 0.25 0.30 + 0.02 1.62 0.25 0.06 Camrova Res V 136 0.10 0.09 0.09 - 0.01 0.16 Camrova Res* O 3 0.07 0.07 0.07 + 0.02 0.15 0.00 unch 0.00 0.12 0.04 Canada Coal V 500 0.11 0.11 0.11 Canada Cobalt V 1003 0.26 0.19 0.21 - 0.05 0.55 0.15 O 132 0.21 0.16 0.17 - 0.04 0.44 0.11 Canada Cobalt* Canada One* O 1 0.09 0.09 0.09 + 0.02 0.32 0.06 0.08 Canada One V 1011 0.12 0.10 0.10 - 0.03 0.52 CanAlaska Uran V 198 0.36 0.33 0.34 - 0.01 0.45 0.26 O 86 0.28 0.26 0.27 - 0.02 0.37 0.21 CanAlaska Uran* CanAm Coal* O 295 0.00 0.00 0.00 unch 0.00 0.01 0.00 V 496 0.15 0.11 0.14 + 0.02 0.28 0.08 Canamex Gold Canamex Gold* O 38 0.11 0.09 0.11 + 0.02 0.22 0.06 0.06 Canarc Res T 314 0.08 0.07 0.07 + 0.01 0.11 Canarc Res* O 172 0.06 0.05 0.05 + 0.00 0.08 0.04 0.08 Canasil Res V 1504 0.11 0.08 0.08 - 0.02 0.20 Candelaria Mg* O 11 0.48 0.42 0.42 - 0.06 1.08 0.06 V 13 0.56 0.49 0.53 + 0.05 1.04 0.46 Candelaria Mg Candente Coppr T 70 0.09 0.09 0.09 unch 0.00 0.21 0.06 O 10 0.02 0.02 0.02 unch 0.00 0.04 0.00 Candente Gold* Candente Gold V 650 0.03 0.02 0.03 + 0.01 0.06 0.02 unch 0.00 0.42 0.18 Canex Energy V 1 0.00 0.00 0.31 CANEX Metals V 105 0.06 0.05 0.05 unch 0.00 0.08 0.03 19 0.04 0.04 0.04 - 0.00 0.06 0.02 CANEX Metals * O CaNickel Mng* O 0 0.00 0.00 0.08 unch 0.00 0.18 0.08 0.09 CaNickel Mng V 5 0.11 0.00 0.11 - 0.01 0.25 Canterra Mnls V 74 0.04 0.00 0.03 unch 0.00 0.06 0.02 0 0.01 0.01 0.01 unch 0.00 0.03 0.01 Cantex Mn Dev* O Cantex Mn Dev V 8 0.02 0.00 0.02 unch 0.00 0.05 0.02 0.13 Canuc Res V 25 0.20 0.18 0.18 - 0.03 0.60 Canuc Res* O 25 0.15 0.15 0.15 unch 0.00 0.41 0.10 O 10 0.10 0.00 0.10 - 0.01 0.22 0.04 Canyon Copper* Canyon Copper V 1328 0.17 0.12 0.12 - 0.02 0.29 0.06 T 1776 1.22 1.10 1.20 + 0.07 1.62 0.77 Capstone Mng Caracara Silvr V 88 0.13 0.00 0.12 unch 0.00 0.30 0.05 O 9 0.01 0.01 0.01 - 0.06 0.14 0.01 Caracara Silvr* Cardero Res V 242 0.14 0.12 0.13 + 0.01 0.22 0.07 0.05 Cardero Res* O 44 0.10 0.00 0.09 + 0.00 0.17 Cardinal Res* O 5 0.39 0.39 0.39 unch 0.00 0.46 0.35 0.43 Cardinal Res T 1072 0.48 0.46 0.48 - 0.01 1.05 Cariboo Rose V 146 0.04 0.04 0.04 unch 0.00 0.15 0.04 0.03 Carlin Gold V 105 0.04 0.03 0.03 - 0.01 0.10 Carmax Mng* O 50 0.13 0.12 0.12 - 0.01 0.14 0.03 0.05 Carmax Mng V 335 0.17 0.16 0.16 - 0.01 0.20 Carrara Explor 218 0.31 0.26 0.31 + 0.05 1.00 0.25 unch 0.00 0.25 0.05 Cartier Iron 190 0.10 0.08 0.10 Cartier Res V 910 0.17 0.15 0.17 unch 0.00 0.38 0.15 V 768 0.08 0.07 0.07 - 0.01 0.13 0.05 Carube Copper Casa Minerals V 248 0.16 0.14 0.15 - 0.01 0.22 0.07 V 160 0.09 0.07 0.09 + 0.01 0.16 0.07 Cascadero Copp Cassius Vents V 0 0.00 0.00 0.04 unch 0.00 0.07 0.03 0.03 0.03 0.03 unch 0.00 0.03 0.02 Castle Peak Mg V 1338 Cautivo Mining 71 0.32 0.00 0.31 + 0.02 0.85 0.20 unch 0.00 0.35 0.15 Cava Res V 21 0.17 0.17 0.17 Cava Res* O 84 0.18 0.14 0.18 unch 0.00 0.29 0.14 0.02 Cavan Vent V 338 0.16 0.13 0.15 - 0.01 0.40 Cda Carbon* O 22 0.08 0.06 0.06 - 0.02 0.17 0.04 0.04 Cda Carbon V 152 0.09 0.00 0.09 + 0.01 0.23 Cda Rare Earth V 645 0.09 0.08 0.08 - 0.01 0.10 0.03 0.07 0.06 0.06 - 0.01 0.08 0.02 Cda Rare Earth* O 227 Cda Strtgc Met V 1197 0.12 0.10 0.10 - 0.02 0.16 0.09 9 0.09 0.09 0.09 - 0.00 0.12 0.06 Cda Strtgc Met * O Cda Zinc Mtls V 553 0.32 0.30 0.31 - 0.01 0.39 0.22 92 0.20 0.00 0.19 - 0.04 0.50 0.11 Cdn Intl Mnrls V Cdn Intl Mnrls* O 1 0.15 0.15 0.15 unch 0.00 0.47 0.06 Cdn Metals 302 0.10 0.08 0.10 unch 0.00 0.20 0.05 V 134 0.33 0.28 0.33 - 0.02 0.44 0.17 Cdn Orebodies Cdn Platinum V 572 0.03 0.00 0.02 - 0.01 0.05 0.01 36 0.07 0.06 0.06 - 0.02 0.12 0.04 Cdn Silvr Hunt V Cdn Zinc T 265 0.14 0.13 0.13 + 0.01 0.23 0.12 0.09 Cdn Zinc* O 136 0.11 0.09 0.10 + 0.00 0.19 Centamin T 17 2.81 2.65 2.81 + 0.04 3.05 2.19 O 84 0.12 0.06 0.09 - 0.03 0.20 0.03 Centaurus Diam* Centenera Mng V 110 0.18 0.15 0.17 + 0.01 0.26 0.12 O 1 0.11 0.11 0.11 unch 0.00 0.21 0.10 Centenera Mng* Centerra Gold T 5857 8.19 7.73 7.92 + 0.03 9.35 5.90 unch 0.00 0.07 0.01 Central Iron V 35 0.03 0.02 0.02 Century Global T 15 0.19 0.19 0.19 unch 0.00 0.29 0.13 0.02 Cerro Mng* O 2 0.13 0.00 0.13 + 0.10 0.13 Cerro Mng V 7 0.20 0.00 0.20 + 0.02 0.22 0.04 0.15 Ceylon Graph V 224 0.21 0.18 0.18 - 0.02 0.29 Chakana Copper V 912 0.77 0.70 0.76 + 0.01 1.05 0.62 O 40 0.59 0.55 0.58 + 0.03 0.79 0.38 Chakana Copper* Chalice Gold M* O 15 0.11 0.11 0.11 unch 0.00 0.25 0.10 0.15 0.13 0.14 - 0.01 0.33 0.13 Chalice Gold M T 1143 Champion Bear V 32 0.16 0.14 0.15 - 0.01 0.23 0.10 O 5 0.10 0.10 0.10 - 0.02 0.18 0.10 Champion Bear* Champion Iron T 1049 1.26 1.18 1.26 + 0.06 1.59 0.85 O 287 1.01 0.92 0.99 + 0.09 1.22 0.61 Champion Iron* Chantrell Vent V 529 0.05 0.05 0.05 unch 0.00 0.10 0.05 V 40 0.29 0.26 0.27 + 0.01 0.57 0.25 Chatham Rock Chatham Rock* O 0 0.00 0.00 0.23 unch 0.00 0.42 0.20 O 65 1.95 1.70 1.72 - 0.29 3.23 1.70 Chesapeake Gld* Chesapeake Gld V 131 2.53 2.19 2.22 - 0.32 4.08 2.20 Chevron Corp* N 32759 127.90 123.08 125.53 - 1.09 133.88 102.55 Chiboug Ind Mn V 258 0.06 0.06 0.06 unch 0.00 0.11 0.05 O 141 0.04 0.02 0.03 + 0.00 0.12 0.02 Chilean Metals* Chilean Metals V 242 0.04 0.00 0.04 + 0.01 0.16 0.04 0.05 Chimata Gold V 248 0.11 0.09 0.09 - 0.02 0.19 China Gold Int T 845 2.73 2.53 2.59 - 0.03 3.19 1.82 0 0.00 0.00 0.19 unch 0.00 0.50 0.16 China Mnls Mng V China Mnls Mng* O 0 0.00 0.00 0.14 unch 0.00 0.32 0.14 V 57 0.01 0.01 0.01 unch 0.00 0.02 0.01 Chinapintza Mg Cicada Vents V 16 0.02 0.01 0.02 + 0.01 0.03 0.01 152 0.21 0.19 0.19 - 0.02 0.79 0.08 CIM Intl Grp Cipher Res* O 300 0.07 0.05 0.05 unch 0.00 0.27 0.05 0.07 Cipher Res V 12 0.10 0.09 0.09 + 0.01 0.33 Claim Post Res V 554 0.10 0.09 0.10 unch 0.00 0.13 0.03 V 104 0.20 0.17 0.18 - 0.02 0.50 0.17 Clarmin Explor Clean Comm V 1216 0.06 0.05 0.05 - 0.01 0.21 0.05 0.03 Clean Comm* O 80 0.05 0.04 0.05 - 0.01 0.16 Cleghorn Mnls V 478 0.11 0.09 0.11 + 0.01 0.11 0.05 N 44374 7.70 7.08 7.69 + 0.40 9.15 5.56 Cleveland-Clif* Clifton Mng* O 53 0.09 0.06 0.09 - 0.00 0.14 0.05

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Cloud Peak En* N 3072 CMC Metals* O 3 CMC Metals V 311 CNRP Mng* O 58 Cobalt 27 Cap V 1166 Cobalt Block V 370 Cobalt Block* O 36 Cobalt Pwr Grp* O 140 Cobalt Pwr Grp V 10247 13407 Coeur Mng* N Colibri Res* O 11 Colibri Res V 315 O 0 Colombia Crest* V 38 Colombia Crest Colonial Coal V 377 O 52 Colorado Gold* O 9 Colorado Res* Colorado Res V 414 T 406 Columbus Gold O 231 Columbus Gold* V 107 Commander Res O 114 Commerce Res* V 180 Commerce Res V 270 Compass Gold O 40 Compliance Egy* X 2080 Comstock Mng* V 600 Comstock Mtls 25 Comstock Mtls * O Condor Gold* O 22 Condor Gold T 188 Condor Res V 138 O 1 Confedertn Ml* V 66 Confedertn Mls V 318 Conquest Res V 20 Cons Woodjam CONSOL Coal Rs* N 193 N 17032 CONSOL Energy* N 3169 CONSOL Energy* O 39 Constantine Mt* 812 V Mt Constantine Contact Gold V 202 O 59 Contact Mnrls* O 159 Contintl Gold* Contintl Gold T 1078 Contintl Prec* O 2 Contintl Prec V 15 2 Copper Fox Mtl* O Copper Fox Mtl V 182 23 Copper Lake Rs V Copper Mtn Mng T 2407 Copper Mtn Mng* O 191 0 Copper North M* O Copper North M V 339 Copper One V 163 325 Copper Reef Mg Copperbank Res 156 O 48 Copperbank Res* 2 Coral Gold * O Coral Gold V 24 O 41 Cordoba Mnls* V 353 Cordoba Mnls Core Gold V 918 Core Gold* O 303 Core Lithium* O 1 Corex Gold V 5 V 1976 Cornerstone Ca O 12 Cornerstone Ca* O 193 Cornerstone Mt* V 1371 Cornerstone Mt Coro Mining T 225 Coronet Mtls* O 1 Coronet Mtls 236 13 Corsa Coal * O Corsa Coal V 164 Corvus Gold T 300 Corvus Gold* O 117 CR Capital V 265 17 Crazy Horse Res* O Critical Elem V 694 Critical Elem* O 11 V 161 CROPS Crown Mining V 81 Cruz Cobalt V 2234 Cruz Cobalt* O 729 Crystal Lake V 807 Crystal Lake* O 64 Crystal Peak V 17 Crystal Peak* O 5 O 3 CTGX Mining* 21 Currie Rose Rs V 22 CWN M’g Acq V O 619 Cyclone Uran* Cypress Dev* O 554 Cypress Dev V 3385

3.39 3.04 3.26 + 0.22 5.70 2.76 0.03 0.03 0.02 0.02 - 0.01 0.08 0.04 unch 0.00 0.12 0.04 0.04 0.04 0.02 unch 0.00 1.98 0.37 0.26 0.33 12.80 11.87 12.49 + 0.84 14.00 7.42 0.01 0.34 0.26 0.30 + 0.02 0.40 0.02 0.27 0.20 0.24 + 0.02 0.32 0.18 0.13 0.13 - 0.02 0.29 0.06 0.22 0.16 0.16 - 0.04 0.35 0.08 6.71 8.17 7.49 8.03 + 0.15 9.98 0.06 unch 0.00 0.16 0.06 0.06 0.06 0.07 0.10 0.08 0.08 - 0.01 0.28 0.00 unch 0.00 0.10 0.00 0.00 0.10 0.05 unch 0.00 0.40 0.12 0.11 0.11 0.08 0.32 0.25 0.31 + 0.05 0.40 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.10 0.13 0.11 0.13 + 0.02 0.37 0.13 0.19 0.15 0.17 + 0.01 0.46 0.29 0.32 0.29 0.31 - 0.01 0.94 0.22 0.25 0.22 0.24 - 0.00 0.73 0.03 0.04 0.03 0.04 - 0.01 0.06 0.05 0.06 0.05 0.05 - 0.00 0.08 0.07 unch 0.00 0.10 0.08 0.07 0.07 0.38 0.48 0.45 0.45 - 0.02 0.80 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.21 0.36 0.32 0.36 + 0.02 1.12 0.05 unch 0.00 0.18 0.05 0.05 0.05 0.04 0.04 0.04 + 0.01 0.13 0.03 0.60 0.75 0.60 0.73 + 0.13 0.90 0.47 unch 0.00 1.75 0.86 0.85 0.85 0.08 0.09 0.09 0.09 - 0.01 0.17 0.26 0.25 0.00 0.25 - 0.05 0.60 0.30 0.36 0.30 0.33 - 0.03 0.81 0.01 unch 0.00 0.10 0.04 0.03 0.03 0.04 unch 0.00 0.09 0.06 0.00 0.06 16.20 14.70 16.15 + 1.45 16.65 12.56 11.69 15.61 14.61 15.34 + 0.71 18.09 19.51 39.30 30.27 39.08 + 7.87 41.89 0.11 0.13 0.12 0.13 - 0.00 0.28 0.14 0.18 0.15 0.16 - 0.01 0.35 0.37 0.40 0.35 0.37 - 0.03 1.10 0.06 0.45 0.28 0.40 + 0.10 0.45 1.90 2.89 2.68 2.89 + 0.19 3.22 2.62 3.72 3.45 3.69 + 0.15 4.13 0.20 0.29 0.25 0.29 + 0.03 0.30 0.26 0.40 0.00 0.40 + 0.07 0.40 0.08 0.00 0.07 - 0.01 0.15 0.07 0.10 0.10 0.10 - 0.01 0.18 0.10 0.04 0.04 0.04 unch 0.00 0.10 0.03 1.27 1.15 1.19 - 0.08 1.85 0.72 0.98 0.90 0.93 - 0.09 1.47 0.54 0.04 0.00 0.04 + 0.00 0.08 0.03 0.05 0.00 0.05 unch 0.00 0.11 0.05 0.03 0.15 0.14 0.14 - 0.02 0.22 0.02 0.02 0.02 - 0.01 0.03 0.01 0.06 unch 0.00 0.18 0.08 0.07 0.07 0.04 unch 0.00 0.14 0.06 0.05 0.05 0.29 0.29 0.29 + 0.01 0.35 0.21 0.30 0.40 0.38 0.40 + 0.02 0.43 0.11 0.13 0.12 0.13 + 0.01 0.84 0.15 0.17 0.16 0.17 + 0.01 1.16 0.22 0.34 0.27 0.30 + 0.02 0.40 0.18 0.26 0.21 0.24 + 0.01 0.34 0.10 unch 0.00 4.07 0.80 0.00 0.80 0.10 unch 0.00 0.20 0.13 0.13 0.13 0.15 unch 0.00 0.55 0.29 0.26 0.28 0.13 0.23 0.21 0.21 - 0.01 0.44 0.13 0.38 0.31 0.34 - 0.06 0.52 0.07 0.49 0.40 0.43 - 0.07 0.66 0.08 0.09 0.09 0.09 + 0.01 0.16 0.07 unch 0.00 0.24 0.19 0.19 0.19 0.17 unch 0.00 0.25 0.21 0.20 0.21 1.11 1.04 1.04 + 0.04 2.25 1.00 1.20 1.45 1.27 1.33 - 0.09 2.30 0.69 3.00 2.65 3.00 + 0.35 2.94 0.53 2.33 2.05 2.33 + 0.21 2.29 0.07 unch 0.00 0.15 0.11 0.10 0.10 0.15 0.15 0.15 unch 0.00 0.18 0.12 0.67 1.23 1.14 1.15 - 0.07 1.86 0.51 0.96 0.88 0.91 - 0.04 1.48 0.06 0.09 0.08 0.08 - 0.01 0.20 0.07 0.15 0.13 0.13 - 0.02 0.28 0.18 0.25 0.19 0.19 - 0.06 0.41 0.12 0.20 0.14 0.15 - 0.04 0.35 0.16 0.66 0.46 0.66 + 0.15 1.12 0.13 0.47 0.36 0.47 + 0.04 0.84 0.30 0.37 0.34 0.36 + 0.01 0.58 0.21 0.27 0.26 0.26 - 0.01 0.46 0.10 unch 0.00 0.25 0.25 0.00 0.25 0.09 0.09 0.09 - 0.01 0.20 0.04 0.13 0.12 0.12 - 0.01 0.25 0.10 0.00 0.00 0.00 0.00 - 0.00 0.02 0.06 0.32 0.23 0.24 - 0.06 0.34 0.08 0.40 0.30 0.31 - 0.06 0.43

Dajin Res V 159 Dajin Res* O 614 71 Dakota Ter Res* O Daleco Res* O 125 O 141 Dalradian Res* Dalradian Res T 480 Damara Gold V 229 O 1 Damara Gold* Danakali* O 53 Debut Dmds 444 Decade Res V 3233 Decade Res* O 970 Declan Res 10 V 79 Deep-South Res Defiance Silvr V 269 O 144 Defiance Silvr* Delrand Res V 195 T 3303 Denison Mines X 2149 Denison Mines* Desert Gold V 473 Desert Lion* O 10 Desert Lion V 814 Desert Mtn Egy V 253 Desert Mtn Egy* O 171 Detour Gold T 13698 O 243 Diamante Min* O 161 Diamcor Mng* Diamcor Mng V 125 O 435 Diamond Disc* V 17 Diamond Fields 0 Diamond Fields* O Dios Expl V 1602 14235 O Discovery Gold* V 0 Discovery Harb O 7 Discovery Met* V 422 Discovery Met 129607 O Discovery Mnls* V 170 Discovery-Corp Ditem Explor* O 755 O 38 Diversified Rs* DNI Metals 506 DNI Metals* O 51 Dolat Ventures* O 121 Dolly Vard Sil* O 532 Dolly Vard Sil V 746 O 1 Doubleview Cap* V 401 Doubleview Cap DRDGOLD* N 558 50 Duncan Park H V Dundee Prec Mt T 1349 O 14 Dunnedin Vent* Duran Vent V 34 2 Duran Vent * O Durango Res V 496 Durango Res* O 55 V 246 DV Resources Dynacor Gld Mn T 123 8 Dynacor Gld Mn* O O 1 Dynamic Gold* O 1 DynaResource* Dynasty Gold V 49 O 43 Dynasty Gold* E3 Metals V 228 V 234 Eagle Graphite O 1686 Eagle Graphite* Eagle Plains V 394 V 484 East Africa 21 East Africa * O

0.08 unch 0.00 0.22 0.11 0.09 0.10 0.06 0.09 0.07 0.07 - 0.01 0.17 0.09 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 0.83 0.76 0.80 + 0.02 1.37 0.91 1.08 0.99 1.00 - 0.02 1.78 0.04 unch 0.00 0.22 0.05 0.05 0.05 0.02 unch 0.00 0.14 0.04 0.04 0.04 0.48 0.55 0.48 0.51 - 0.04 0.65 0.01 unch 0.00 0.03 0.01 0.01 0.01 0.05 unch 0.00 0.20 0.07 0.06 0.07 0.04 0.06 0.05 0.05 + 0.01 0.16 0.06 0.23 0.22 0.22 + 0.01 0.34 0.08 0.31 0.25 0.26 - 0.04 0.45 0.22 0.39 0.35 0.37 - 0.02 0.44 0.17 0.30 0.26 0.28 - 0.02 0.35 0.75 0.85 0.72 0.73 - 0.14 2.44 0.50 unch 0.00 0.80 0.65 0.59 0.60 0.38 0.01 0.64 0.47 - 0.51 0.45 0.14 unch 0.00 0.31 0.19 0.19 0.19 0.84 unch 0.00 1.03 0.91 0.84 0.91 1.07 1.25 1.07 1.13 - 0.02 2.35 0.15 0.13 0.13 - 0.01 0.24 0.06 0.12 0.11 0.12 + 0.02 0.13 0.01 10.78 9.11 10.77 + 0.72 18.88 9.11 0.02 0.15 0.00 0.14 + 0.01 0.15 0.28 0.32 0.29 0.31 + 0.01 0.76 0.35 0.41 0.36 0.40 + 0.03 1.06 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.08 0.14 0.00 0.14 + 0.04 0.20 0.00 0.00 0.07 unch 0.00 0.11 0.06 0.06 0.17 0.13 0.13 - 0.03 0.19 0.00 0.01 0.00 0.00 - 0.00 0.01 0.05 unch 0.00 0.10 0.00 0.00 0.06 0.22 unch 0.00 0.69 0.22 0.22 0.22 0.27 0.36 0.30 0.36 + 0.08 0.92 0.00 0.00 0.00 0.00 + 0.00 0.00 0.01 0.02 0.01 0.01 - 0.01 0.04 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.02 unch 0.00 0.15 0.03 0.03 0.03 0.06 unch 0.00 0.16 0.09 0.08 0.09 0.00 0.08 0.06 0.08 + 0.00 0.13 2.05 1.45 1.60 - 0.41 15.80 0.80 0.55 0.42 0.44 - 0.09 0.84 0.36 0.68 0.55 0.57 - 0.10 1.04 0.45 0.03 unch 0.00 0.08 0.07 0.07 0.07 0.04 0.09 0.08 0.09 - 0.01 0.11 2.23 2.57 2.23 2.50 + 0.15 4.17 0.01 0.02 0.00 nch u 0.01 0.01 0.01 3.32 3.20 3.29 - 0.01 3.38 2.13 0.13 0.24 0.22 0.22 - 0.01 0.26 0.04 0.05 0.05 0.05 - 0.01 0.10 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.06 unch 0.00 0.14 0.08 0.08 0.08 0.05 unch 0.00 0.08 0.07 0.06 0.07 0.10 0.35 0.00 0.33 + 0.02 0.63 1.92 1.80 1.84 - 0.05 2.26 1.50 1.50 1.43 1.44 + 0.09 1.85 1.03 0.52 1.50 1.27 1.27 - 0.23 2.01 0.80 unch 0.00 1.63 1.22 1.22 1.22 0.10 0.20 0.18 0.20 + 0.01 0.27 0.07 0.15 0.13 0.13 - 0.01 0.22 0.32 0.40 0.33 0.40 + 0.03 1.01 0.18 0.03 0.03 0.03 - 0.25 0.36 0.01 unch 0.00 0.03 0.02 0.02 0.02 0.13 0.16 0.13 0.14 - 0.02 0.29 0.24 0.21 0.21 + 0.01 0.37 0.18 0.17 0.16 0.16 + 0.01 0.28 0.15

D-F

2018-05-08 6:31 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / MAY 14–27, 2018

Week

12-month

Exc Volume High Low Last Change High Low

East Asia Mnls* O 555 East Asia Mnls V 406 EastCoal Inc V 0 Eastern Platin* O 80 Eastern Platin T 9 Eastern Zinc V 8 Eastfield Res V 784 O 116 Eastmain Res* Eastmain Res T 403 Eco Oro Mnls 49 55 Eco Oro Mnls* O eCobalt Solns T 2355 eCobalt Solns* O 576 V 37 Edgewater Expl El Capitan Prc* O 2064 El Nino Vent V 155 Elcora Res V 182 Elcora Res* O 65 N 46014 Eldorado Gold* T 8799 Eldorado Gold Electra Stone* O 350 Electra Stone V 1998 Eloro Mnrls* O 2 Eloro Mnrls V 117 Ely Gold Royal V 648 Ely Gold Royal* O 187 Elysee Dev V 44 10 Elysee Dev * O Emerita Res V 1669 Emgold Mng V 7 Emgold Mng* O 4 Empire Rock V 1 EMX Royalty* X 153 EMX Royalty V 62 O 525 Encanto Potash* Encanto Potash V 406 V 532 EnCore Energy Endeavour Mng T 1222 O 13 Endeavour Mng* Endeavr Silver* N 8628 T 1864 Endeavr Silver Endurance Gold V 136 Energy Fuels* X 1807 Energy Fuels T 756 O 100 Enforcer Gold* Enforcer Gold V 2119 O 112 Engold Mines* Engold Mines V 116 Ensurge* O 167 Entree Gold* X 287 Entree Gold T 78 Equitorial Ex V 3293 Equitorial Ex* O 48 Erdene Res Dev* O 35 Erdene Res Dev T 2172 Erin Ventures* O 16 Erin Ventures V 299 Ero Copper T 518 Ero Copper* O 10 Eros Res Corp* O 1 Eros Res Corp V 111 Eros Res Corp V 111 Eskay Mng V 111 Essex Minerals V 106 Ethos Gold* O 5 Ethos Gold V 77 2 Euro Sun Mg* O Euro Sun Mg T 200 O 4 EurOmax Res* EurOmax Res T 115 O 18 European Elect* European Elect V 43 O 332 European Metal* Eurotin V 85 Everton Res* O 20 Everton Res V 339 28 EVI Global Grp Evolving Gold 127 O 7 Evolving Gold* Evrim Res V 2284 Excellon Res T 813 Excellon Res* O 172 Excelsior Mng T 1091 Excelsior Mng* O 575 61 ExGen Res Inc V ExGen Res Inc* O 433 Explor Res* O 41 Explor Res V 154 Explorex Res 97 O 16 Explorex Res* Fairmont Res V 78 Falco Res V 2628 Falco Res * O 150 Falcon Gold V 888 Fancamp Expl V 196 Far Res 3825 Far Res* O 90 V 434 Fengro Industr Filo Mg Corp V 31 Finlay Minrls V 117 Fiore Gold* O 417 Fiore Gold V 804 Fire River Gol* O 3 Firebird Res V 230 Firesteel Res V 410 V 149 Firestone Vent Fireweed Zinc V 209 O 26 Fireweed Zinc* Firma Holdings* O 93 First Bauxite V 489 First Cobalt * O 384 First Cobalt V 1643 First Colombia* O 2145 First Energy* O 41 First Energy V 123 First Legacy V 150 First Liberty* O 1378 First Majestic T 3088 First Majestic* N 12037 First Mexican V 2382 First Mg Fin * O 1694 First Mg Fin T 1638 First Point* O 20 First Quantum T 11153 Fission 3.0 V 151 Fission Uran T 7175 Fission Uran* O 1349 Five Star Diam V 1054 Fjordland Exp* O 2 Fjordland Exp V 23 Focus Graphite* O 432 V 3443 Focus Graphite Foran Mng V 577 Forsys Metals T 68 Fort St James V 1 O 35 Fortescue Met* Fortuna Silvr* N 4727 Fortuna Silvr T 1665 Fortune Bay* O 2 Fortune Bay V 43 Fortune Mnrls* O 334 Fortune Mnrls T 1622 Forum Energy V 306 O 5 Forum Energy* Fox River Res 2 FPX Nickel V 302 Franco-Nevada* N 2399 Franco-Nevada T 1857 Franklin Mng* O 0 Freedom Egy V 136 Freegold Vent T 167 Frprt McMoR* N 91884 Fremont Gold* O 55 Fremont Gold V 62 Fresnillo plc* O 2 Frontier Lith V 191 Frontline Gold V 1235 0 Full Metal Mnl* O Full Metal Mnl V 0 Fura Gems* O 50 Fura Gems V 96

0.06 0.04 0.05 + 0.01 0.49 0.03 0.06 0.05 0.06 unch 0.00 0.74 0.05 0.00 0.00 0.12 unch 0.00 0.20 0.07 0.32 0.31 0.31 unch 0.00 0.37 0.19 0.36 0.00 0.36 - 0.03 0.50 0.25 0.26 0.26 0.26 unch 0.00 0.46 0.15 0.04 0.04 0.04 unch 0.00 0.05 0.03 0.21 0.19 0.19 - 0.01 0.34 0.14 0.28 0.25 0.26 - 0.02 0.46 0.16 0.24 0.00 0.23 - 0.01 0.45 0.15 0.19 0.00 0.17 - 0.02 0.40 0.12 1.49 1.35 1.42 + 0.03 2.10 0.85 1.17 1.05 1.08 - 0.00 1.74 0.61 0.18 0.00 0.18 + 0.04 0.22 0.12 0.03 0.01 0.03 - 0.00 0.09 0.03 0.06 0.05 0.05 unch 0.00 0.08 0.02 0.31 0.27 0.27 - 0.03 0.56 0.13 0.25 0.20 0.23 - 0.02 0.44 0.12 1.04 0.93 1.01 + 0.06 3.76 0.80 1.33 1.19 1.29 + 0.06 5.13 1.03 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.02 0.01 0.02 unch 0.00 0.04 0.01 0.51 0.46 0.46 - 0.11 0.96 0.46 0.72 0.55 0.72 + 0.04 1.27 0.53 0.11 0.10 0.11 unch 0.00 0.15 0.09 0.09 0.08 0.09 + 0.01 0.13 0.07 0.35 0.00 0.34 - 0.01 0.41 0.26 0.27 0.00 0.27 - 0.00 0.31 0.20 0.09 0.08 0.09 - 0.01 0.17 0.08 0.16 0.00 0.14 - 0.02 0.31 0.14 0.10 0.09 0.09 - 0.01 0.25 0.10 0.18 0.18 0.18 unch 0.00 0.30 0.16 0.89 0.86 0.88 + 0.02 1.04 0.67 1.15 1.10 1.14 + 0.02 1.32 0.85 0.03 0.02 0.02 - 0.01 0.06 0.02 0.04 0.03 0.04 + 0.01 0.09 0.03 0.05 0.05 0.05 + 0.01 0.09 0.04 23.43 21.24 23.16 + 0.96 26.86 19.77 18.08 16.55 18.01 + 0.68 21.72 14.41 3.15 2.82 2.86 - 0.18 3.39 1.94 4.04 3.62 3.66 - 0.24 4.62 2.50 0.08 0.08 0.08 unch 0.00 0.09 0.05 2.04 1.74 1.93 + 0.05 2.09 1.30 2.61 2.25 2.48 + 0.17 2.69 1.66 0.05 0.05 0.05 unch 0.00 0.18 0.05 0.06 0.05 0.05 - 0.01 0.25 0.06 0.19 0.15 0.15 - 0.01 0.40 0.14 0.26 0.19 0.26 + 0.01 0.57 0.14 0.05 0.04 0.05 + 0.01 0.12 0.02 0.40 0.36 0.39 + 0.03 0.69 0.21 0.52 0.47 0.51 + 0.04 0.85 0.45 0.10 0.09 0.09 + 0.01 0.15 0.06 0.06 0.06 0.06 unch 0.00 0.11 0.04 0.31 0.30 0.30 + 0.00 1.00 0.28 0.39 0.38 0.39 unch 0.00 1.40 0.37 0.09 0.08 0.08 - 0.01 0.23 0.01 0.13 0.11 0.12 - 0.01 0.33 0.08 8.06 7.61 7.70 - 0.30 9.07 4.70 6.27 5.97 5.97 - 0.31 7.25 3.88 0.08 0.00 0.08 - 0.02 0.18 0.08 0.12 0.00 0.11 - 0.01 0.23 0.12 0.12 0.00 0.11 - 0.01 0.23 0.12 0.25 0.24 0.25 - 0.01 0.51 0.18 0.16 0.13 0.13 - 0.02 0.25 0.12 0.14 0.00 0.14 + 0.02 0.23 0.10 0.19 0.00 0.17 - 0.02 0.28 0.13 1.11 1.05 1.06 - 0.08 1.55 0.50 1.46 1.34 1.45 unch 0.00 2.02 0.68 0.15 0.00 0.15 - 0.01 0.37 0.14 0.20 0.19 0.20 unch 0.00 0.50 0.19 0.48 0.28 0.36 - 0.12 0.79 0.14 0.46 0.37 0.41 + 0.01 0.93 0.15 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.08 0.08 0.08 unch 0.00 0.10 0.04 0.04 0.04 0.04 unch 0.00 0.08 0.02 0.05 0.04 0.05 unch 0.00 0.10 0.03 0.29 0.29 0.29 unch 0.00 0.43 0.02 0.14 0.11 0.13 unch 0.00 0.41 0.10 0.10 0.08 0.10 + 0.01 0.32 0.08 1.29 1.01 1.29 unch 0.00 1.70 0.19 1.43 1.35 1.40 - 0.05 2.30 1.22 1.12 1.04 1.09 - 0.07 1.87 0.92 1.48 1.37 1.45 + 0.07 1.50 0.70 1.20 1.06 1.14 + 0.04 1.20 0.52 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.04 0.03 0.04 - 0.00 0.08 0.02 0.04 0.04 0.04 unch 0.00 0.10 0.04 0.34 0.29 0.31 - 0.04 0.65 0.15 0.28 0.27 0.27 - 0.01 0.31 0.12 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.66 0.58 0.62 - 0.04 1.47 0.60 0.53 0.45 0.46 - 0.05 1.04 0.47 0.05 0.04 0.05 + 0.01 0.08 0.04 0.10 0.09 0.10 - 0.01 0.18 0.05 0.34 0.26 0.33 + 0.02 1.10 0.08 0.26 0.22 0.23 - 0.02 0.87 0.06 0.20 0.17 0.20 + 0.03 0.40 0.14 2.50 2.25 2.25 - 0.25 2.80 1.81 0.05 0.05 0.05 unch 0.00 0.34 0.05 0.47 0.39 0.43 - 0.01 0.95 0.22 0.59 0.51 0.53 - 0.06 1.18 0.51 0.05 0.00 0.05 unch 0.00 0.51 0.00 0.04 0.03 0.03 unch 0.00 0.09 0.01 0.13 0.11 0.12 + 0.01 0.16 0.04 0.10 0.10 0.10 unch 0.00 0.19 0.03 1.64 1.44 1.64 + 0.14 1.95 0.67 1.28 1.11 1.26 + 0.15 1.58 0.54 0.07 0.06 0.06 - 0.00 0.13 0.04 0.05 0.04 0.05 + 0.01 0.06 0.03 0.62 0.57 0.60 + 0.01 1.30 0.31 0.79 0.74 0.78 + 0.03 1.65 0.42 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.32 0.29 0.31 + 0.01 0.32 0.10 0.42 0.38 0.42 + 0.02 0.41 0.15 0.20 0.18 0.20 unch 0.00 0.25 0.16 0.00 0.00 0.00 - 0.00 0.00 0.00 8.86 8.18 8.81 + 0.13 12.72 6.24 6.91 6.36 6.85 + 0.08 9.36 4.93 0.07 0.04 0.05 - 0.01 0.07 0.01 0.42 0.38 0.40 + 0.01 0.60 0.31 0.53 0.49 0.51 + 0.01 0.77 0.41 0.13 0.11 0.13 + 0.02 0.13 0.06 20.10 17.45 20.06 + 2.21 22.00 9.69 0.18 0.15 0.15 - 0.01 0.36 0.14 0.70 0.64 0.65 - 0.01 0.89 0.53 0.54 0.50 0.52 - 0.01 0.72 0.40 0.16 0.13 0.16 unch 0.00 0.49 0.13 0.13 0.00 0.13 + 0.00 0.47 0.07 0.17 0.00 0.16 + 0.01 0.59 0.10 0.04 0.03 0.04 - 0.00 0.08 0.03 0.05 0.04 0.05 unch 0.00 0.11 0.04 0.50 0.40 0.42 - 0.08 0.62 0.24 0.11 0.10 0.11 + 0.01 0.21 0.09 0.00 0.00 0.45 unch 0.00 0.59 0.15 3.60 0.00 3.60 + 0.14 4.79 3.22 5.88 5.54 5.73 - 0.01 6.08 4.03 7.55 7.15 7.38 + 0.03 7.63 5.13 0.27 0.27 0.27 - 0.00 0.50 0.23 0.36 0.00 0.35 unch 0.00 0.67 0.35 0.20 0.19 0.20 + 0.01 0.33 0.00 0.27 0.25 0.26 unch 0.00 0.38 0.17 0.06 0.05 0.05 + 0.01 0.09 0.04 0.03 0.03 0.03 unch 0.00 0.07 0.03 0.06 0.00 0.06 unch 0.00 0.15 0.05 0.17 0.15 0.16 + 0.01 0.18 0.07 73.96 70.16 73.62 + 1.92 86.06 64.90 95.00 90.14 94.72 + 3.00 110.18 85.21 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.08 0.06 0.07 + 0.01 0.14 0.05 0.10 0.08 0.09 - 0.01 0.17 0.08 15.55 14.64 15.42 + 0.10 20.25 11.05 0.14 0.13 0.14 + 0.01 0.17 0.10 0.18 0.16 0.18 + 0.02 0.22 0.11 18.20 0.00 18.20 + 0.30 22.27 16.10 0.51 0.43 0.49 + 0.02 0.85 0.31 0.02 0.02 0.02 + 0.01 0.03 0.01 0.00 0.00 0.09 unch 0.00 0.12 0.05 0.00 0.00 0.10 unch 0.00 0.15 0.08 0.41 0.00 0.36 - 0.07 1.23 0.36 0.52 0.46 0.50 - 0.02 1.13 0.29

Gabriel Res* O 9 Gabriel Res V 381 Gainey Capital V 131 Galane Gold V 280 Galantas Gold* O 1 V 119 Galantas Gold Galore Res V 328 Galway Gold V 137

0.27 0.25 0.26 - 0.00 0.34 0.20 0.36 0.33 0.34 - 0.01 0.45 0.26 0.09 0.00 0.09 unch 0.00 0.20 0.08 0.07 0.06 0.07 + 0.01 0.12 0.05 0.06 0.06 0.06 unch 0.00 0.10 0.06 0.10 0.09 0.09 - 0.02 0.13 0.07 0.03 0.03 0.03 unch 0.00 0.06 0.01 0.07 0.05 0.06 unch 0.00 0.16 0.06

G-H

20-23_MAY14_StockTables.indd 21

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Galway Mtls* O 485 Galway Mtls V 315 GAR Limited 11547 Garibaldi Res V 480 Garibaldi Res * O 72 General Moly T 9 General Moly* X 286 Generic Gold 67 Genesis Mtls* O 61 Genesis Mtls V 764 Gensource Pot V 754 O 81 Geologix Expl* Geologix Expl V 1769 O 11 Geomega Res* Geomega Res V 507 Gespeg Cop Res V 200 Getty Copper V 1523 O 241 GFG Resources* GGL Res* O 3 GGL Res V 45 GGX Gold V 1001 GGX Gold* O 254 Giga Metals* O 39 Giga Metals V 241 Gitennes Expl V 210 Giyani Gold* O 46 Giyani Gold V 114 Glacier Lake V 471 Glacier Lake* O 5 O 429 Gldn Predator* Gldn Predator V 1004 Glen Eagle Res V 431 Glencore Plc* O 1743 V 663 Global Atomic Global Cobalt* O 68 V 799 Global Energy Global Energy* O 163 0 Global Gold* O Global Hunter* O 53 Global Li-Ion 319 Global Li-Ion* O 94 O 2 GlobalMin Vent* Globex Mng T 97 Globex Mng* O 12 GMV Minerals V 522 O 250 GMV Minerals* GNCC Capital* O 33860 GobiMin V 15 God’s Lake Res 1 GoGold Res T 870 Gold Dynamics* O 80 Gold Fields* O 1 Gold Fields* N 17627 43 Gold Finder Ex* O Gold Finder Ex V 385 Gold Lakes* O 30 Gold Reserve* O 139 Gold Reserve V 85 Gold Resource* X 1636 Gold Std Vents* X 1789 Gold Std Vents T 399 V 8 Goldbank Mng Goldcliff Res* O 104 Goldcliff Res V 397 Goldcorp T 8963 Goldcorp* N 28793 Golden Arrow V 906 O 380 Golden Arrow* Golden Band* O 199 V 7 Golden Cariboo Golden Dawn Ml V 211 14 Golden Dawn Ml* O Golden Global* O 29 O 55 Golden Goliath* Golden Goliath V 63 O 3 Golden Hope* Golden Hope V 41 Golden Mnls* X 420 Golden Mnls T 25 Golden Peak Mn V 180 Golden Queen* O 701 T 561 Golden Queen Golden Reign V 322 Golden Ridge V 703 Golden Secret V 5 Golden Share V 36 Golden Share* O 9 Golden Star T 380 Golden Star* X 7333 Golden Sun* O 486 Golden Tag V 48 O 60 Golden Valley* Golden Valley V 139 Goldex Res* O 18 Goldex Res V 120 T 586 Goldgroup Mng Goldgroup Mng* O 224 GoldMining V 575 GoldON Res V 20 Goldplay Expl V 500 GoldQuest Mng V 304 Goldrea Res 175 Goldrea Res* O 17 O 400 Goldrich Mng* Goldsource Min* O 58 V 207 Goldsource Min Goldstar Mnls V 601 V 30 Goldstream Mnl Goldstrike Res V 258 Goliath Res V 457 Goliath Res* O 98 Gorilla Min 342 Gossan Res V 25 O 1337 GoviEx Uranium* GoviEx Uranium V 5054 Gowest Gold* O 175 Gowest Gold V 1226 GPM Metals* O 3 GPM Metals V 79 O 165 Gran Colombia* Gran Colombia T 430 Granada Gold V 577 Granada Gold* O 164 V 24 Grande Portage Grande Portage* O 10 3 Granite Ck Gld V Graphite Corp* O 1089 Graphite Egy* O 327 Graphite Egy 149 O 1395 Graphite One* Graphite One V 1899 Gratomic* O 3 Gratomic V 8057 13 Gray Rock Res V Great Atlantic V 190 Great Bear Res V 212 Great Bear Res* O 38 7 Great Lakes Gr* O Great Panther* X 1703 Great Panther T 222 Great Quest Fe V 42 V 202 Great Thunder Great Western* O 1062 O 0 Greatbanks Res* Green Arrow V 78 Green River 218 Green Swan Cap V 119 Green Valley M V 134 Greencastle Rs V 236 O 272 Greenland M&En* Greenshield Ex V 0 V 0 Grenville Gold Grizzly Discvr V 151 V 3 Grosvenor Res Group Eleven V 243 9 Group Ten Mtls* O Group Ten Mtls V 186 O 205 GrowMax Res* GrowMax Res V 437 GT Gold V 637 GT Gold * O 45 GTA Res & Mng V 363 Guerrero Vents V 2 Gungnir Res V 279 Gungnir Res* O 149 V 28 Gunpoint Expl Guyana Gldflds T 3405 V 408 Guyana Goldstr Guyana Goldstr* O 13 V 224 Handa Copper Handeni Gold* O 13 V 73 Hannan Metals

0.20 0.17 0.17 - 0.02 0.36 0.16 0.28 0.22 0.24 - 0.01 0.45 0.21 0.25 0.18 0.19 - 0.04 0.65 0.06 3.08 2.82 3.00 + 0.03 5.27 0.12 2.40 2.22 2.30 - 0.02 4.12 0.10 0.47 0.45 0.47 - 0.01 0.61 0.35 0.39 0.36 0.37 - 0.01 0.53 0.28 0.25 0.20 0.25 unch 0.00 0.32 0.18 0.07 0.06 0.07 + 0.01 0.18 0.06 0.10 0.07 0.08 + 0.01 0.22 0.07 0.14 0.12 0.13 - 0.01 0.19 0.06 0.02 0.02 0.02 unch 0.00 0.07 0.02 0.03 0.02 0.03 unch 0.00 0.09 0.02 0.08 0.07 0.08 + 0.01 0.09 0.04 0.10 0.09 0.09 + 0.01 0.12 0.06 0.03 0.03 0.03 - 0.01 0.08 0.03 0.03 0.02 0.03 unch 0.00 0.04 0.02 0.22 0.18 0.19 - 0.05 0.66 0.20 0.11 0.11 0.11 unch 0.00 0.13 0.09 0.12 0.11 0.11 - 0.01 0.19 0.10 0.11 0.10 0.11 + 0.01 0.24 0.09 0.09 0.08 0.08 - 0.00 0.17 0.07 0.21 0.18 0.18 - 0.03 0.72 0.11 0.28 0.23 0.25 - 0.01 0.92 0.05 0.06 0.05 0.06 unch 0.00 0.15 0.04 0.20 0.18 0.20 + 0.02 0.41 0.17 0.25 0.22 0.25 + 0.03 0.50 0.20 0.06 0.05 0.05 - 0.02 0.19 0.05 0.05 0.05 0.05 unch 0.00 0.06 0.05 0.34 0.30 0.32 - 0.03 1.18 0.30 0.44 0.40 0.42 - 0.01 1.59 0.40 0.17 0.15 0.16 unch 0.00 0.31 0.14 9.82 9.32 9.68 - 0.32 11.68 6.90 0.25 0.23 0.25 + 0.01 0.59 0.20 0.01 0.01 0.01 + 0.01 0.43 0.00 0.15 0.13 0.14 + 0.02 0.27 0.10 0.11 0.10 0.11 + 0.01 0.22 0.08 0.00 0.00 2.75 unch 0.00 12.55 1.78 0.01 0.01 0.01 unch 0.00 0.10 0.01 0.41 0.37 0.38 - 0.03 0.97 0.30 0.32 0.28 0.30 - 0.01 0.80 0.23 0.05 0.05 0.05 unch 0.00 0.09 0.04 0.44 0.41 0.43 + 0.02 0.61 0.38 0.34 0.32 0.34 + 0.01 0.48 0.31 0.20 0.19 0.20 unch 0.00 0.49 0.19 0.16 0.00 0.16 + 0.02 0.42 0.14 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.39 0.35 0.39 + 0.04 0.58 0.33 0.00 0.00 0.35 unch 0.00 0.35 0.04 0.48 0.41 0.46 + 0.03 0.69 0.31 0.00 0.00 0.00 - 0.00 0.01 0.00 3.90 3.90 3.90 unch 0.00 4.80 3.45 3.98 3.67 3.91 + 0.13 4.70 3.06 0.36 0.34 0.36 - 0.00 1.33 0.00 0.48 0.41 0.46 - 0.02 1.85 0.11 0.05 0.00 0.04 - 0.01 5.00 0.01 2.68 2.10 2.25 - 0.36 4.25 1.94 3.41 2.70 2.83 - 0.47 5.35 2.61 5.50 5.02 5.40 + 0.31 5.50 3.10 1.65 1.49 1.56 - 0.04 2.07 1.25 2.14 1.93 2.02 - 0.09 2.70 1.61 0.14 0.00 0.14 unch 0.00 0.34 0.07 0.10 0.09 0.09 - 0.01 0.41 0.08 0.14 0.11 0.12 - 0.03 0.52 0.10 17.63 16.86 17.35 - 0.24 19.94 15.00 13.72 13.10 13.47 - 0.28 15.55 11.64 0.54 0.49 0.50 - 0.02 0.75 0.37 0.42 0.38 0.39 - 0.00 0.58 0.29 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.07 0.07 0.07 - 0.01 0.19 0.05 0.32 0.28 0.31 + 0.01 0.68 0.24 0.25 0.00 0.25 + 0.02 0.31 0.10 0.15 0.10 0.14 - 0.01 0.19 0.00 0.03 0.03 0.03 - 0.00 0.05 0.02 0.04 0.04 0.04 unch 0.00 0.06 0.03 0.07 0.00 0.07 unch 0.00 0.12 0.06 0.10 0.00 0.10 - 0.01 0.16 0.07 0.44 0.40 0.44 + 0.03 0.68 0.36 0.57 0.49 0.57 + 0.05 0.88 0.46 0.27 0.25 0.27 - 0.01 0.41 0.16 0.17 0.15 0.17 + 0.00 0.62 0.12 0.22 0.20 0.21 unch 0.00 0.83 0.16 0.23 0.20 0.20 - 0.01 0.37 0.18 0.15 0.13 0.14 - 0.01 0.41 0.11 0.32 0.32 0.32 + 0.01 0.50 0.19 0.24 0.00 0.23 - 0.01 0.30 0.09 0.20 0.20 0.20 - 0.00 0.20 0.09 0.93 0.84 0.90 - 0.02 1.17 0.70 0.72 0.65 0.70 - 0.01 0.92 0.56 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.05 0.05 0.05 unch 0.00 0.06 0.03 0.23 0.21 0.23 - 0.00 0.25 0.19 0.29 0.27 0.27 - 0.01 0.34 0.24 0.47 0.42 0.44 - 0.04 1.96 0.42 0.67 0.53 0.57 unch 0.00 2.56 0.44 0.06 0.05 0.06 unch 0.00 0.12 0.05 0.05 0.04 0.04 + 0.00 0.09 0.03 1.16 1.11 1.15 unch 0.00 1.96 1.06 0.14 0.00 0.14 - 0.03 0.20 0.10 0.31 0.25 0.31 + 0.04 0.34 0.12 0.25 0.22 0.23 - 0.02 0.50 0.18 0.15 0.13 0.14 - 0.01 0.38 0.04 0.11 0.10 0.11 + 0.01 0.30 0.03 0.03 0.03 0.03 - 0.00 0.06 0.02 0.06 0.05 0.05 - 0.01 0.11 0.04 0.08 0.07 0.07 - 0.01 0.14 0.06 0.05 0.04 0.05 + 0.01 0.09 0.03 0.09 0.09 0.09 unch 0.00 0.13 0.05 0.20 0.18 0.19 + 0.01 0.39 0.17 0.12 0.10 0.11 - 0.01 0.40 0.08 0.04 0.04 0.04 unch 0.00 0.08 0.01 0.17 0.00 0.15 - 0.01 0.22 0.08 0.09 0.09 0.09 - 0.02 0.12 0.05 0.16 0.14 0.16 - 0.00 0.27 0.13 0.21 0.19 0.20 - 0.01 0.33 0.17 0.06 0.05 0.05 - 0.01 0.18 0.05 0.07 0.07 0.07 unch 0.00 0.25 0.07 0.04 0.04 0.04 unch 0.00 0.11 0.04 0.06 0.06 0.06 - 0.01 0.18 0.06 2.09 1.95 1.99 - 0.04 2.20 1.02 2.69 2.51 2.55 - 0.06 2.87 1.34 0.27 0.24 0.24 - 0.03 0.72 0.21 0.21 0.19 0.19 - 0.01 0.54 0.17 0.20 0.19 0.19 - 0.03 0.71 0.14 0.16 0.14 0.14 - 0.02 0.56 0.10 0.00 0.00 0.09 unch 0.00 0.17 0.08 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.30 0.25 0.25 - 0.02 1.56 0.26 0.38 0.32 0.36 - 0.02 1.76 0.34 0.07 0.05 0.06 - 0.00 0.09 0.03 0.08 0.07 0.08 unch 0.00 0.12 0.04 0.14 0.12 0.12 - 0.02 0.21 0.04 0.21 0.15 0.16 - 0.02 0.32 0.05 0.21 0.20 0.20 - 0.01 0.57 0.15 0.09 0.00 0.08 - 0.01 0.24 0.07 0.55 0.48 0.54 + 0.01 0.73 0.23 0.41 0.37 0.41 - 0.02 0.59 0.19 0.07 0.07 0.07 unch 0.00 0.08 0.02 1.29 1.21 1.26 + 0.03 1.46 1.06 1.65 1.55 1.61 + 0.02 1.88 1.39 0.14 0.10 0.11 - 0.03 0.24 0.09 0.03 0.03 0.03 unch 0.00 0.09 0.03 0.00 0.00 0.00 - 0.00 0.01 0.00 0.00 0.00 0.02 unch 0.00 0.03 0.02 0.04 0.04 0.04 - 0.01 0.19 0.03 0.07 0.06 0.06 - 0.02 0.09 0.02 0.06 0.06 0.06 + 0.01 0.13 0.05 0.46 0.38 0.38 - 0.04 0.50 0.08 0.11 0.11 0.11 unch 0.00 0.18 0.07 0.07 0.06 0.07 - 0.00 0.11 0.06 0.00 0.00 0.15 unch 0.00 0.15 0.05 0.00 0.00 0.08 unch 0.00 0.14 0.08 0.09 0.07 0.09 + 0.01 0.14 0.03 0.17 0.17 0.17 unch 0.00 0.21 0.16 0.16 0.15 0.16 + 0.01 0.40 0.15 0.17 0.15 0.17 + 0.03 0.23 0.08 0.24 0.19 0.24 + 0.04 0.28 0.09 0.08 0.00 0.08 - 0.00 0.13 0.06 0.11 0.10 0.10 unch 0.00 0.19 0.09 0.75 0.69 0.70 - 0.01 2.76 0.32 0.59 0.55 0.55 - 0.01 2.24 0.28 0.05 0.04 0.05 + 0.01 0.06 0.04 0.00 0.00 0.02 unch 0.00 0.03 0.01 0.13 0.10 0.13 + 0.02 0.22 0.04 0.09 0.07 0.08 - 0.01 0.17 0.03 0.33 0.23 0.30 + 0.09 0.33 0.16 5.34 4.84 5.15 + 0.12 6.30 3.96 0.23 0.20 0.22 + 0.03 0.38 0.14 0.18 0.16 0.18 + 0.02 0.25 0.14 0.07 0.06 0.06 - 0.01 0.18 0.06 0.05 0.00 0.05 unch 0.00 0.14 0.02 0.23 0.00 0.23 unch 0.00 0.50 0.18

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Hannan Metals* O 54 Happy Ck Mnrls V 149 V 63 Harfang Explor Harmony Gold* N 16024 Harte Gold* O 476 Harte Gold T 1818 Harvest Gold* O 375 Harvest Gold V 139 Hawkeye Gld&Di V 82 Heatherdale Rs V 87 18009 Hecla Mining* N Helio Res V 26 Helio Res* O 5 Hellix Vent* O 1 Hemcare Health* O 2 Heron Res* O 110 HFX Holding V 40 Highbank Res V 162 Highbury Proj V 9 Highland Copp* O 46 V 1243 Highland Copp 19 Highway 50 Gld V Highway 50 Gld* O 55 HiHo Silver 358 Hinterland Mtl V 237 Hochschild Mg* O 42 13 Honey Badger E* O Honey Badger E V 2406 T 200 Horizonte Mnls Hornby Bay Mnl* O 2 63 Hornby Bay Mnl V HudBay Mnls* N 2794 HudBay Mnls T 9459 Hudson Res V 396 Hudson Res* O 26 Hunt Mng* O 72 Hunt Mng V 46 Hut 8 Mining* O 20 Hut 8 Mining V 175 Hybrid Mineral V 231 Hycroft Mg* O 5

0.17 0.00 0.15 + 0.00 0.36 0.14 0.18 0.17 0.18 + 0.01 0.26 0.14 0.30 0.27 0.27 + 0.02 0.35 0.22 2.11 1.95 2.03 - 0.04 2.53 1.56 0.35 0.31 0.33 + 0.01 0.57 0.26 0.44 0.40 0.42 + 0.02 0.77 0.33 0.03 0.03 0.03 unch 0.00 0.05 0.03 0.05 0.05 0.05 - 0.01 0.07 0.03 0.06 0.06 0.06 - 0.01 0.12 0.05 0.06 0.04 0.05 - 0.01 0.08 0.04 3.96 3.76 3.93 + 0.08 6.16 3.25 0.14 0.00 0.12 + 0.02 0.75 0.11 0.10 0.09 0.09 - 0.01 0.35 0.00 0.01 0.01 0.01 unch 0.00 0.23 0.01 0.51 0.51 0.51 unch 0.00 2.30 0.11 0.48 0.00 0.45 - 0.02 1.35 0.45 0.07 0.07 0.07 unch 0.00 0.12 0.04 0.04 0.03 0.04 + 0.01 0.06 0.02 0.25 0.25 0.25 unch 0.00 0.35 0.22 0.10 0.08 0.09 - 0.01 0.14 0.06 0.12 0.11 0.11 - 0.01 0.17 0.09 0.27 0.25 0.25 - 0.02 0.64 0.22 0.22 0.22 0.22 unch 0.00 0.41 0.21 0.07 0.06 0.07 + 0.02 0.14 0.03 0.03 0.03 0.03 unch 0.00 0.05 0.02 2.82 0.00 2.82 - 0.01 4.37 2.58 0.09 0.07 0.09 + 0.01 0.16 0.03 0.13 0.10 0.12 + 0.01 0.20 0.04 0.09 0.09 0.09 unch 0.00 0.11 0.04 0.04 0.04 0.04 unch 0.00 0.07 0.00 0.06 0.00 0.06 - 0.01 0.08 0.00 7.18 6.60 7.00 unch 0.00 10.25 4.60 9.21 8.55 9.02 + 0.03 12.65 6.13 0.49 0.44 0.47 - 0.02 0.77 0.38 0.37 0.35 0.35 - 0.04 0.52 0.29 0.27 0.22 0.25 + 0.02 0.41 0.11 0.32 0.00 0.32 + 0.03 0.51 0.13 3.35 2.99 3.10 - 0.36 3.74 2.55 4.50 3.82 4.02 - 0.43 5.00 0.04 0.44 0.35 0.38 unch 0.00 0.55 0.12 0.02 0.01 0.01 - 0.01 2.00 0.01

I-Minerals* O 20 I-Minerals V 37 IAMGOLD T 5997 IAMGOLD* N 16029 Iconic Mnls V 329 26 Iconic Mnls * O IDM Mining* O 99 IDM Mining V 420 IEMR Res V 49 IGC Res V 26 iMetal Res* O 50 iMetal Res V 398 V 766 IMPACT Silver O 2 Imperial Metal* Imperial Metal T 72 38 Imperial Mg Gr V Inca One Gold* O 21 Inca One Gold V 182 Inception Mng * O 3 Independence G V 50 O 18 Independence G* Indiana Res* O 25 Indico Res V 52 Indigo Expl V 15 Infinite Lith* O 9 Infinite Lith V 778 Inform Res V 44 O 1 Infrastructure* Inomin Mines V 7 Inspiration Mg 13860 Inspiration Mg* O 64 Intact Gold* O 11 Intact Gold V 472 Integra Res* O 33 Integra Res V 152 Inter-Rock Mnl V 29 O 26 Inter-Rock Mnl* Interconnect V 81 Intercontinent* O 1 Intercontinent V 341 1 Intgr Egy Sol* O Intl Battery* O 688 Intl Battery 803 Intl Cobalt 768 Intl Cobalt* O 85 Intl Corona V 25 Intl Lithium* O 132 Intl Lithium V 374 Intl Millm Mng V 167 Intl Montoro* O 70 Intl Montoro V 202 Intl Prospect * O 64 Intl Prospect V 126 Intl Samuel Ex* O 45 Intl Samuel Ex V 829 Intl Star* O 222746 Intl Tower Hil* X 1000 Intl Tower Hil T 29 Intl Zeolite V 323 Intl Zeolite* O 2 Intrepid Pots* N 8645 INV Metals* O 2 INV Metals T 33 Inventus Mg * O 86 Inventus Mg V 254 InZinc Mining V 367 O 230 InZinc Mining* Ireland* O 104 Ironside Res V 43 Ironside Res * O 2 Irving Res 149 Irving Res* O 99 IsoEnergy Ltd V 129 Itafos* O 13 V 22 Itafos Itoco Mg Corp* O 31 O 367 Ivanhoe Mines* Ivanhoe Mines T 5741 Jade Leader* O 27 Jade Leader V 29 Jaguar Mng T 721 Jaguar Mng* O 459 Japan Gold V 203 Japan Gold* O 13 Jasper Mng V 6 O 5 Jaxon Mining* Jaxon Mining V 260 Jayden Res V 254 Jayden Res* O 5 Jazz Res V 250 JDF Explor Inc 6 V 4210 Jiminex Jiulian Res V 10 Jourdan Res V 187 Jubilee Gold V 14 O 2 Jubilee Metals* Juggernaut Exp V 383 K2 Gold V 28 K92 Mng Inc* O 460 K92 Mng Inc V 1527 Kaizen Discov V 125 O 27 Kaizen Discvry* Kapuskasing Gd V 234 Karmin Expl V 42 Karnalyte Res T 31 Karoo Expl V 323 KAT Expl* O 6588 15381 Katanga Mng T Kenadyr Mining V 1182 O 22 Kenadyr Mining* Kennady Diam V 1 Kermode Res V 222 Kerr Mines* O 69 Kerr Mines T 504 Kesselrun Res* O 22 V 243 Kesselrun Res Kestrel Gold V 137 Khan Res 398 Kilo Goldmines V 1987 O 100 Kilo Goldmines* Kincora Copper* O 0 V 49 Kincora Copper Kings Bay Res* O 17 Kings Bay Res V 278 Kingsmen Res V 42 O 6 Kingsmen Res* Kinross Gold T 10122 41153 Kinross Gold* N

0.23 0.21 0.21 - 0.02 0.44 0.18 0.27 0.25 0.25 - 0.04 0.59 0.24 7.34 6.92 7.26 + 0.16 8.87 4.89 5.72 5.38 5.64 + 0.09 7.25 3.55 0.10 0.09 0.09 - 0.02 0.43 0.04 0.08 0.07 0.07 - 0.01 0.28 0.03 0.06 0.05 0.05 - 0.00 0.12 0.05 0.08 0.07 0.08 + 0.01 0.16 0.06 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.17 0.16 0.16 - 0.01 0.25 0.05 0.07 0.07 0.07 unch 0.00 0.12 0.05 0.09 0.08 0.08 - 0.01 0.18 0.04 0.48 0.42 0.43 - 0.04 0.69 0.26 1.64 1.53 1.53 - 0.10 4.21 1.46 2.08 1.94 1.95 - 0.14 5.95 1.85 0.12 0.09 0.09 - 0.03 0.27 0.05 0.05 0.04 0.04 - 0.01 0.10 0.04 0.07 0.06 0.07 - 0.01 0.14 0.06 0.25 0.18 0.18 + 0.01 0.44 0.11 0.10 0.10 0.10 unch 0.00 0.23 0.10 0.07 0.07 0.07 - 0.00 0.17 0.07 0.04 0.04 0.04 unch 0.00 0.07 0.03 0.02 0.01 0.02 + 0.01 0.03 0.01 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.10 0.09 0.10 - 0.02 0.34 0.07 0.14 0.12 0.13 - 0.01 0.45 0.12 0.20 0.20 0.20 unch 0.00 0.39 0.07 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.10 0.10 0.10 - 0.03 0.20 0.02 0.09 0.06 0.07 - 0.02 0.27 0.01 0.07 0.06 0.06 + 0.00 0.20 0.01 0.37 0.35 0.35 unch 0.00 0.37 0.08 0.73 0.52 0.70 + 0.19 0.67 0.15 0.75 0.73 0.73 - 0.02 1.83 0.05 0.96 0.92 0.92 - 0.03 1.40 0.91 0.40 0.37 0.40 + 0.02 0.59 0.20 0.29 0.28 0.28 unch 0.00 0.35 0.19 0.09 0.08 0.09 + 0.01 0.09 0.05 0.32 0.00 0.32 + 0.01 0.32 0.07 0.45 0.00 0.45 + 0.04 0.43 0.08 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.35 0.30 0.34 + 0.01 1.11 0.15 0.45 0.39 0.43 + 0.01 1.38 0.26 0.24 0.20 0.21 - 0.03 0.45 0.08 0.19 0.16 0.16 - 0.03 0.31 0.15 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.07 0.06 0.07 + 0.00 0.18 0.05 0.09 0.08 0.09 + 0.01 0.23 0.07 0.03 0.03 0.03 unch 0.00 0.04 0.01 0.04 0.04 0.04 unch 0.00 0.06 0.03 0.05 0.04 0.05 + 0.01 0.13 0.03 0.22 0.19 0.22 + 0.02 0.28 0.05 0.29 0.24 0.28 + 0.02 0.36 0.04 0.04 0.03 0.03 - 0.01 0.12 0.03 0.04 0.03 0.04 unch 0.00 0.15 0.03 0.00 0.00 0.00 + 0.00 0.00 0.00 0.65 0.60 0.63 - 0.02 0.78 0.29 0.83 0.77 0.82 - 0.02 0.99 0.38 0.34 0.28 0.30 - 0.03 0.93 0.26 0.24 0.23 0.23 - 0.01 0.72 0.20 4.75 4.26 4.29 - 0.32 5.12 1.82 0.40 0.40 0.40 - 0.08 0.80 0.44 0.55 0.51 0.52 - 0.02 1.07 0.52 0.14 0.12 0.13 - 0.01 0.31 0.11 0.18 0.16 0.17 - 0.01 0.39 0.13 0.13 0.12 0.12 - 0.01 0.24 0.10 0.10 0.09 0.10 + 0.00 0.19 0.07 0.17 0.13 0.14 + 0.02 0.32 0.09 0.12 0.12 0.12 - 0.01 0.21 0.07 0.10 0.10 0.10 + 0.00 0.12 0.06 1.45 1.23 1.35 - 0.10 1.54 0.60 1.14 0.95 1.06 - 0.03 1.24 0.09 0.36 0.33 0.36 - 0.01 1.00 0.26 2.02 0.00 2.00 - 0.02 2.25 0.97 2.56 2.42 2.56 + 0.01 2.90 1.14 0.10 0.06 0.06 - 0.04 1.20 0.05 2.15 1.96 2.11 + 0.04 4.04 1.90 2.80 2.50 2.71 + 0.07 5.05 2.50 0.24 0.22 0.23 unch 0.00 0.38 0.04 0.31 0.29 0.29 unch 0.00 0.50 0.04 0.37 0.34 0.35 + 0.01 0.55 0.22 0.29 0.00 0.27 + 0.01 0.38 0.18 0.25 0.21 0.22 - 0.03 0.39 0.18 0.19 0.16 0.17 - 0.02 0.30 0.16 0.10 0.10 0.10 unch 0.00 0.18 0.06 0.12 0.12 0.12 unch 0.00 0.27 0.08 0.14 0.13 0.13 - 0.02 0.41 0.09 0.12 0.10 0.10 + 0.01 0.38 0.07 0.07 0.00 0.07 + 0.01 0.30 0.05 0.07 0.06 0.06 unch 0.00 0.09 0.06 0.05 0.00 0.05 unch 0.00 0.10 0.01 0.02 0.01 0.01 - 0.01 0.06 0.01 0.08 0.08 0.08 unch 0.00 0.08 0.02 0.07 0.07 0.07 + 0.01 0.20 0.04 0.41 0.40 0.40 unch 0.00 0.73 0.35 0.05 0.05 0.05 unch 0.00 0.06 0.04 0.25 0.21 0.22 - 0.04 0.59 0.10 0.26 0.24 0.26 unch 0.00 0.56 0.18 0.68 0.57 0.61 - 0.06 0.86 0.31 0.85 0.74 0.77 - 0.08 1.06 0.41 0.08 0.00 0.07 - 0.01 0.20 0.06 0.06 0.06 0.06 unch 0.00 0.15 0.05 0.03 0.02 0.02 unch 0.00 0.06 0.02 0.94 0.89 0.89 - 0.01 1.50 0.32 0.42 0.39 0.40 - 0.01 0.78 0.37 0.76 0.71 0.76 + 0.02 1.10 0.01 0.00 0.00 0.00 + 0.00 0.00 0.00 1.01 0.70 0.93 - 0.06 2.83 0.35 0.18 0.16 0.18 + 0.03 0.64 0.10 0.14 0.12 0.14 + 0.03 1.45 0.08 3.00 3.00 3.00 unch 0.00 3.97 2.45 0.03 0.02 0.02 unch 0.00 0.03 0.01 0.19 0.17 0.17 - 0.02 0.34 0.12 0.24 0.23 0.23 - 0.01 0.41 0.17 0.10 0.00 0.09 - 0.00 0.17 0.06 0.14 0.00 0.12 unch 0.00 0.23 0.08 0.05 0.04 0.04 - 0.01 0.19 0.03 0.08 0.08 0.08 - 0.01 0.18 0.05 0.04 0.03 0.03 - 0.01 0.07 0.03 0.03 0.03 0.03 - 0.01 0.06 0.02 0.00 0.00 0.10 unch 0.00 0.32 0.10 0.16 0.14 0.14 unch 0.00 0.44 0.12 0.08 0.05 0.05 - 0.02 0.12 0.05 0.09 0.08 0.08 - 0.02 0.16 0.06 0.17 0.15 0.15 unch 0.00 0.20 0.10 0.13 0.11 0.11 - 0.01 0.13 0.07 5.22 4.93 5.20 + 0.12 6.29 4.44 4.06 3.83 4.03 + 0.07 4.91 3.48

I-J-K

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Kintavar Exp V 271 Kirkland Lake* N 3754 Kirkland Lake T 3991 Kitrinor Mtls V 733 Kivalliq Enrgy V 470 Klondex Mines T 1464 Klondike Gold V 505 Klondike Gold* O 74 Klondike Silv V 281 Klondike Silv* O 15 Knick Expl V 749 Kombat Copper V 133 O 0 Kombat Copper* Komet Resource V 172 Kootenay Silvr* O 59 Kootenay Silvr V 1037 Kootenay Zinc 60 Kootenay Zinc* O 52 Kutcho Copper * O 216 KWG Res* O 33 KWG Res 1082

0.43 0.40 0.40 - 0.01 0.65 0.10 18.71 16.86 18.69 + 1.46 18.54 6.30 24.07 21.67 24.05 + 2.25 23.84 8.67 4.99 3.93 4.10 - 0.85 8.61 1.01 0.08 0.07 0.07 - 0.01 0.13 0.07 3.20 3.02 3.20 + 0.07 5.03 1.66 0.25 0.24 0.24 - 0.01 0.60 0.22 0.20 0.18 0.19 - 0.00 0.49 0.16 0.08 0.00 0.08 unch 0.00 0.10 0.04 0.06 0.05 0.05 unch 0.00 0.08 0.02 0.03 0.02 0.02 - 0.01 0.08 0.02 0.22 0.00 0.22 unch 0.00 0.49 0.21 0.00 0.00 0.27 unch 0.00 0.34 0.19 0.36 0.34 0.36 - 0.01 0.48 0.31 0.13 0.12 0.13 + 0.01 0.24 0.12 0.17 0.16 0.16 unch 0.00 0.31 0.16 0.18 0.15 0.15 unch 0.00 2.75 0.12 0.14 0.09 0.14 + 0.05 3.16 0.07 0.44 0.36 0.39 - 0.08 0.84 0.22 0.01 0.01 0.01 - 0.01 0.02 0.01 0.02 0.01 0.02 unch 0.00 0.03 0.01

La Imperial 11 Labdr Iron Mns* O 45 Labrador Gold V 219 Labrador Iron T 1009 Lara Expl V 106 Laramide Res T 718 Laredo Res* O 14446 Largo Res* O 270 Largo Res T 3759 Lateral Gold V 50 Latin Am Mnls V 262 Laurion Mnl Ex V 766 Laurion Mnl Ex* O 493 Le Mare Gold* O 2 Lead Ventures 194 LeadFX Inc* O 0 O 426 Leading Edge* Leading Edge V 374 Leagold Mg* O 131 Leagold Mg T 599 Leeta Gold V 8527 Legion Metals 81 39 Levon Res Ltd * O Levon Res Ltd T 150 Libero Copper V 50 Liberty Gold* O 170 68 Liberty One Li V Liberty One Li* O 396 LiCo Energy* O 1412 LiCo Energy V 902 Lincoln Mng V 5716 Lion One Mtls V 115 53 Lion One Mtls* O 11 Lions Bay Cap V 8 Lions Gate Mtl* O Lithion Energy* O 6 Lithium Amer* N 480 Lithium Amer T 752 Lithium Chile* O 6 Lithium Chile V 181 Lithium Corp* O 495 Lithium Energi V 115 Lithium Energi* O 14 Lithium Energy V 53 Lithium Expl* O 1912 Lithoquest Dia V 246 Lithoquest Dia* O 3 LKA Gold* O 28 Lode-Star Mg* O 0 Lomiko Mtls* O 113 Lomiko Mtls V 1218 Loncor Res* O 5 Loncor Res T 75 Lone Star Gold* O 404 Lonmin plc* O 16 Lonmin plc* O 1 Lorraine Coppr* O 1 Lorraine Coppr V 186 16 Los Andes Copp V Lovitt Res V 15 Lovitt Res* O 10 LSC Lithium* O 18 Lucara Diam T 1597 Lucky Mnls * O 140 Lucky Mnls V 697 Lumina Gold* O 459 Lumina Gold V 1433 Lund Enterpr V 29 Lundin Gold T 288 Lundin Mng T 15296 Lupaka Gold V 661 Lydian Intl* O 626 Lydian Intl T 3130 Lynas Corp* O 151 Lynas Corp* O 67

0.07 0.07 0.07 unch 0.00 0.08 0.04 0.01 0.01 0.01 unch 0.00 0.10 0.00 0.29 0.26 0.28 unch 0.00 0.35 0.04 23.95 21.60 23.94 + 1.71 28.55 15.10 0.71 0.65 0.66 - 0.03 0.99 0.50 0.38 0.33 0.34 - 0.01 0.55 0.23 0.02 0.01 0.02 - 0.00 0.03 0.00 1.43 1.26 1.30 - 0.09 1.55 0.26 1.85 1.61 1.65 - 0.13 1.93 0.34 0.60 0.55 0.55 - 0.05 1.25 0.55 0.07 0.07 0.07 + 0.01 0.16 0.07 0.08 0.06 0.08 + 0.01 0.08 0.01 0.05 0.05 0.05 unch 0.00 0.06 0.01 0.05 0.00 0.05 - 0.02 3.40 0.03 0.17 0.14 0.14 unch 0.00 0.60 0.06 1.11 1.11 1.11 unch 0.00 1.57 0.26 0.63 0.55 0.63 + 0.09 0.80 0.38 0.81 0.70 0.80 + 0.06 1.01 0.51 2.16 2.07 2.15 + 0.03 2.80 1.76 2.77 2.67 2.74 + 0.01 3.48 2.27 1.60 1.34 1.49 - 0.09 6.75 0.09 0.13 0.13 0.13 unch 0.00 0.21 0.08 0.20 0.18 0.18 + 0.00 0.34 0.18 0.25 0.24 0.24 - 0.01 0.43 0.24 0.11 0.10 0.10 - 0.01 0.15 0.07 0.33 0.00 0.33 + 0.01 0.44 0.27 0.42 0.39 0.39 - 0.04 2.49 0.36 0.34 0.29 0.31 - 0.01 1.95 0.27 0.07 0.06 0.06 - 0.01 0.90 0.06 0.08 0.08 0.08 - 0.01 0.20 0.08 0.03 0.02 0.02 - 0.01 0.06 0.02 0.71 0.65 0.65 - 0.05 0.80 0.45 0.56 0.52 0.52 - 0.02 0.63 0.36 0.12 0.10 0.12 + 0.02 0.25 0.10 0.12 0.12 0.12 unch 0.00 0.42 0.08 0.07 0.07 0.07 unch 0.00 0.12 0.05 5.29 4.96 5.27 + 0.16 10.95 3.08 6.80 6.40 6.80 + 0.25 14.06 3.90 0.68 0.68 0.68 unch 0.00 0.90 0.66 0.97 0.84 0.94 + 0.09 1.35 0.42 0.33 0.27 0.31 - 0.01 0.62 0.05 0.38 0.34 0.35 - 0.03 0.97 0.07 0.28 0.25 0.28 + 0.02 0.75 0.07 0.59 0.40 0.50 - 0.07 1.50 0.36 0.02 0.02 0.02 + 0.00 0.13 0.02 0.57 0.50 0.53 + 0.03 0.88 0.22 0.41 0.00 0.41 - 0.01 0.51 0.29 0.19 0.12 0.18 - 0.01 0.61 0.11 0.00 0.00 0.03 unch 0.00 0.10 0.02 0.05 0.04 0.05 + 0.00 0.24 0.03 0.07 0.06 0.06 + 0.01 0.31 0.05 0.06 0.06 0.06 - 0.00 0.14 0.05 0.09 0.08 0.08 - 0.01 0.20 0.08 0.01 0.01 0.01 - 0.00 0.03 0.00 0.80 0.00 0.80 + 0.01 1.42 0.79 0.76 0.76 0.76 unch 0.00 1.37 0.76 0.11 0.10 0.10 - 0.02 0.12 0.05 0.15 0.00 0.14 - 0.01 0.19 0.06 0.30 0.29 0.30 + 0.01 0.47 0.20 0.05 0.04 0.04 - 0.01 0.10 0.02 0.05 0.05 0.05 unch 0.00 0.05 0.05 0.66 0.59 0.60 - 0.05 1.31 0.55 2.11 2.01 2.08 unch 0.00 3.28 1.97 0.09 0.08 0.09 + 0.00 0.18 0.08 0.13 0.12 0.12 - 0.01 0.23 0.09 0.66 0.62 0.64 - 0.00 0.67 0.46 0.83 0.80 0.81 - 0.01 0.85 0.60 0.14 0.14 0.14 unch 0.00 0.24 0.09 5.23 4.90 5.17 + 0.25 6.50 4.07 8.63 8.09 8.21 - 0.05 10.22 6.62 0.21 0.18 0.18 - 0.04 0.29 0.11 0.34 0.26 0.28 - 0.05 0.50 0.23 0.44 0.34 0.37 - 0.06 0.63 0.31 2.07 1.91 2.06 + 0.13 2.06 0.05 2.03 1.88 2.02 + 0.14 2.07 0.51

M M2 Cobalt* O 10 0.44 0.44 0.44 unch 0.00 0.61 0.44 Macarthur Mnl* O 38 0.04 0.03 0.03 - 0.01 0.10 0.03 Macarthur Mnl V 6718 0.06 0.05 0.05 + 0.01 0.12 0.05 MacDonald Mns* O 36 0.06 0.05 0.05 - 0.01 0.16 0.05 V 300 0.08 0.07 0.08 unch 0.00 0.24 0.07 MacDonald Mns MacMillan Mnls V 32 1.62 1.53 1.53 - 0.05 1.90 1.24 Madeira Mrnls V 6 0.04 0.04 0.04 unch 0.00 0.05 0.02 MAG Silver T 1523 14.54 13.73 14.20 - 0.17 17.62 11.71 O 246 0.02 0.01 0.02 + 0.00 0.19 0.01 Magellan Gold* Magna Terra V 136 0.05 0.04 0.04 + 0.01 0.09 0.04 Magnus Intl* O 12 0.00 0.00 0.00 unch 0.00 0.01 0.00 Majestic Gold V 392 0.06 0.05 0.06 unch 0.00 0.09 0.04 O 8 0.05 0.05 0.05 - 0.00 0.06 0.03 Majestic Gold* Makena Res* O 0 0.00 0.00 0.08 unch 0.00 0.15 0.08 Makena Res 149 0.10 0.08 0.08 unch 0.00 0.24 0.08 Mammoth Res V 150 0.08 0.07 0.07 - 0.01 0.16 0.05 Manado Gold V 125 0.06 0.06 0.06 unch 0.00 0.24 0.05 Mandalay Res T 8447 0.24 0.20 0.22 + 0.01 0.63 0.19 Mandalay Res* O 176 0.19 0.16 0.18 + 0.02 0.47 0.14 Manganese X* O 105 0.14 0.13 0.14 + 0.01 0.21 0.07 Manganese X V 274 0.19 0.17 0.18 - 0.01 0.28 0.08 Mangazeya Mng V 489 0.02 0.00 0.02 - 0.01 0.04 0.02 Manitou Gold V 72 0.11 0.09 0.11 + 0.01 0.19 0.05 Maple Gold V 3000 0.27 0.23 0.24 + 0.01 0.34 0.19 Maple Gold* O 1000 0.21 0.18 0.19 - 0.00 0.27 0.15 Marathon Gold* O 309 0.79 0.65 0.79 + 0.09 1.14 0.65 Marathon Gold T 1806 1.01 0.85 1.00 + 0.11 1.28 0.85 Margaret Lake* O 24 0.12 0.08 0.12 + 0.04 0.12 0.08 Margaret Lake V 553 0.16 0.12 0.14 + 0.02 0.16 0.05 Margaux Res V 130 0.25 0.23 0.25 - 0.01 0.37 0.18 Marifil Mines* O 12 0.14 0.12 0.13 - 0.00 0.17 0.04 Marifil Mines V 178 0.20 0.17 0.18 - 0.01 0.32 0.11 Maritime Res V 2094 0.12 0.11 0.11 - 0.01 0.14 0.09 Marlin Gold V 315 0.43 0.36 0.37 - 0.06 1.15 0.36 Martina Mnls V 10 0.04 0.04 0.04 unch 0.00 0.07 0.03 MartinMarietta* N 4220 205.43 189.27 204.00 + 7.67 242.46 189.27 Mas Gold V 130 0.11 0.11 0.11 unch 0.00 0.15 0.05 O 174 1.42 1.33 1.40 unch 0.00 2.47 0.93 Mason Graphite* Mason Graphite V 404 1.84 1.71 1.84 + 0.09 3.15 1.26 Mason Res* O 22 0.16 0.00 0.16 - 0.00 0.29 0.01 Mason Res T 28 0.20 0.19 0.20 + 0.01 0.40 0.13 Matachewan Con V 40 0.29 0.27 0.29 unch 0.00 0.34 0.21 Matamec Expl V 683 0.04 0.03 0.04 unch 0.00 0.07 0.03 Matamec Expl* O 4 0.03 0.03 0.03 + 0.00 0.05 0.02 Matica Ent* O 217 0.21 0.15 0.17 - 0.03 0.64 0.03 Matica Ent 13001 0.27 0.20 0.22 - 0.05 0.81 0.04 Maudore Mnrls* O 82 0.00 0.00 0.00 unch 0.00 0.00 0.00 Maverix Mtls* O 12 1.25 1.21 1.21 - 0.02 1.50 0.92 Mawson Res T 403 0.34 0.29 0.32 - 0.01 0.65 0.29 Mawson Res* O 82 0.25 0.23 0.25 + 0.00 0.48 0.23 MAX Res V 546 0.21 0.18 0.19 - 0.02 0.32 0.06 MaxTech Vent 92 0.41 0.36 0.40 - 0.02 0.60 0.14 MaxTech Vent* O 165 0.33 0.28 0.32 - 0.01 0.48 0.13 Maxwell Res* O 3 0.01 0.01 0.01 + 0.00 0.03 0.00 Maya Gold &Sil* O 6 2.30 2.21 2.21 - 0.06 2.35 0.33 Maya Gold &Sil V 143 3.00 2.79 2.81 - 0.15 3.02 0.48 Mazarin V 9 0.09 0.08 0.08 - 0.01 0.18 0.04 MBMI Res V 8 0.04 0.00 0.04 unch 0.00 0.13 0.03 McChip Res V 36 0.63 0.00 0.62 + 0.10 0.87 0.37 McEwen Mng T 1298 2.72 2.60 2.71 + 0.05 4.15 2.33 McEwen Mng* N 9562 2.13 2.03 2.10 + 0.03 3.06 1.82 McLaren Res 84 0.10 0.07 0.08 unch 0.00 0.19 0.03 MDN Inc* O 3 0.21 0.21 0.21 - 0.03 0.44 0.09 Meadow Bay Gd 63 0.18 0.00 0.16 - 0.01 0.26 0.11 Meadow Bay Gd* O 3 0.14 0.12 0.12 + 0.00 0.28 0.04 Mechel* N 534 3.82 3.59 3.71 - 0.04 5.93 3.30 Medallion Res V 35 0.11 0.10 0.10 unch 0.00 0.21 0.09 Medallion Res* O 21 0.09 0.07 0.09 + 0.02 0.17 0.07 Medgold Res* O 1 0.15 0.15 0.15 unch 0.00 0.19 0.12

2018-05-08 6:31 PM

WWW.NORTHERNMINER.COM

MAY 14–27, 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

Medgold Res V 266 O 3561 Medinah Mnrls* Mega Uranium T 1822 O 141 Mega Uranium* Megastar Dev V 105 Melior Res V 406 Melkior Res V 595 Meridian Mg V 35 Meridian Mg * O 0 Meryllion Res 171 Meryllion Res* O 2 Mesa Expl* O 250 Mesa Expl V 144 MetalCorp V 13 Metalex Vent V 39 O 107 Metallic Mnrls* Metallic Mnrls V 91 O 700 Metallica Min* Metallis Res V 140 Metalo Manuf 18 Metals Creek V 172 O 225 Metals Creek* Metals X* O 12 Metanor Res* O 74 Metanor Res V 205 V 18 Metron Capital Mexican Gold* O 165 Mexus Gold* O 4162 Mezzotin Mnrls V 215 MGX Minerals 4240 MGX Minerals* O 6434 Midas Gold T 924 Midas Gold* O 1471 Midasco Cap V 200 Midland Expl V 561 Midnight Star 9 Midnight Sun V 221 Millennial Lit* O 190 Millennial Lit V 359 Millrock Res* O 254 Millrock Res V 287 Minaurum Gold V 774 Minco Silver* O 45 Minco Silver T 25 9 Minecorp Egy * O Minera Alamos * O 467 V 5436 Minera Alamos Minera IRL 26 Mineral Hill V 16 Mineral Mtn* O 934 Mineral Mtn V 5692 Mineral Res* O 1 MineralRite* O 500 Mineworx Tech V 558 O 290 Mineworx Tech* Minfocus Expl V 28 O 135823 Mining Global* Minnova Corp V 332 Minsud Res V 198 Minsud Res* O 25 Miramont Res 269 Miramont Res* O 16 Miranda Gold V 55 Mirasol Res V 114 Mistango River 19 MK2 Ventures V 1 Mkango Res V 112 ML Gold* O 118 ML Gold Corp V 1202 Monarca Mnrls* O 124 V 10 Monarca Mnrls Monarques Res V 379 O 146 Monarques Res* Moneta Porcpn* O 29 T 981 Moneta Porcpn Monitor Vent* O 0 Monitor Vent V 3 Montan Mg V 263 Montan Mg* O 0 Montego Res 116 Montero Mg&Ex V 34 V 674 Monument Mng Morien Res* O 22 Morien Res V 1068 Morumbi Res* O 41 Morumbi Res T 283 Mosaic* N 22289 Mountain Boy V 397 Mountain Boy* O 1450 Mountain Lake 61 Mountain Prov T 858 D 168 Mountain Prov* Mundoro Cap* O 334 Mundoro Cap V 392 Murchison Min V 186 O 15 Mustang Mnrls* Mustang Mnrls V 230 MX Gold* O 66

0.21 0.19 0.21 unch 0.00 0.25 0.13 0.00 0.00 0.00 - 0.00 0.01 0.00 0.17 0.14 0.16 + 0.01 0.24 0.13 0.13 0.11 0.12 + 0.01 0.19 0.10 0.08 0.08 0.08 - 0.01 0.10 0.03 0.13 0.10 0.10 - 0.02 0.15 0.03 0.05 0.04 0.04 unch 0.00 0.09 0.04 0.55 0.40 0.40 - 0.05 1.39 0.19 0.00 0.00 0.17 unch 0.00 0.56 0.17 0.03 0.03 0.03 unch 0.00 0.21 0.02 0.02 0.02 0.02 unch 0.00 0.07 0.00 0.04 0.04 0.04 unch 0.00 0.07 0.02 0.06 0.05 0.06 + 0.01 0.08 0.03 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.05 0.04 0.05 + 0.01 0.10 0.04 0.28 0.24 0.28 + 0.00 0.40 0.19 0.36 0.32 0.36 - 0.01 0.50 0.22 0.03 0.03 0.03 unch 0.00 0.06 0.03 1.35 1.23 1.30 - 0.04 2.75 0.14 0.36 0.26 0.27 - 0.09 0.75 0.23 0.06 0.06 0.06 unch 0.00 0.10 0.05 0.05 0.05 0.05 + 0.00 0.08 0.03 0.66 0.58 0.66 + 0.08 0.96 0.51 0.42 0.40 0.40 + 0.01 0.75 0.38 0.53 0.50 0.52 - 0.02 1.01 0.48 0.07 0.00 0.07 + 0.01 0.08 0.05 0.31 0.27 0.30 + 0.03 0.34 0.18 0.02 0.02 0.02 + 0.00 0.09 0.01 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.98 0.85 0.91 + 0.07 1.96 0.75 0.75 0.65 0.70 + 0.03 1.58 0.60 1.05 0.84 0.95 + 0.04 1.08 0.55 0.81 0.65 0.74 + 0.02 0.89 0.42 0.08 0.07 0.08 unch 0.00 0.11 0.05 1.17 0.96 1.06 + 0.08 1.17 0.82 0.20 0.20 0.20 unch 0.00 0.25 0.08 0.30 0.29 0.29 + 0.01 0.54 0.21 1.72 1.60 1.68 + 0.03 3.87 0.88 2.30 2.05 2.16 + 0.03 4.80 1.20 0.19 0.17 0.17 - 0.00 0.35 0.15 0.25 0.22 0.23 - 0.01 0.44 0.21 0.50 0.46 0.48 - 0.02 0.67 0.21 0.58 0.54 0.56 + 0.00 1.23 0.46 0.73 0.70 0.72 - 0.03 1.74 0.58 0.07 0.07 0.07 unch 0.00 0.11 0.04 0.12 0.08 0.10 - 0.01 0.18 0.08 0.14 0.12 0.13 - 0.01 0.24 0.12 0.09 0.00 0.09 + 0.01 0.17 0.06 0.24 0.23 0.23 - 0.01 0.34 0.17 0.54 0.25 0.27 - 0.33 0.60 0.13 0.65 0.31 0.34 - 0.31 0.74 0.15 13.30 13.30 13.30 unch 0.00 16.78 7.00 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.21 0.18 0.19 - 0.02 0.40 0.05 0.17 0.14 0.15 - 0.02 0.33 0.05 0.02 0.02 0.02 unch 0.00 0.06 0.01 0.00 0.00 0.00 + 0.00 0.00 0.00 0.75 0.74 0.74 - 0.01 0.90 0.55 0.10 0.07 0.07 - 0.03 0.21 0.06 0.00 0.00 0.11 unch 0.00 0.11 0.10 0.42 0.37 0.37 - 0.03 0.65 0.21 0.32 0.31 0.31 - 0.01 0.33 0.21 0.05 0.05 0.05 unch 0.00 0.10 0.05 2.00 1.81 1.90 - 0.05 2.60 1.42 0.04 0.03 0.04 unch 0.00 0.07 0.01 0.00 0.00 0.17 unch 0.00 0.18 0.09 0.14 0.11 0.14 unch 0.00 0.24 0.04 0.11 0.08 0.11 + 0.01 0.26 0.08 0.12 0.10 0.10 - 0.02 0.32 0.10 0.04 0.04 0.04 unch 0.00 0.14 0.03 0.05 0.00 0.05 - 0.01 0.17 0.04 0.31 0.28 0.30 - 0.01 0.47 0.25 0.24 0.21 0.23 - 0.00 0.38 0.19 0.11 0.10 0.11 + 0.01 0.17 0.10 0.15 0.14 0.15 + 0.01 0.23 0.13 0.00 0.00 0.18 unch 0.00 0.81 0.13 0.24 0.00 0.22 - 0.01 1.13 0.22 0.07 0.02 0.06 - 0.01 0.18 0.03 0.00 0.00 0.01 unch 0.00 0.03 0.01 0.23 0.17 0.17 - 0.06 0.55 0.14 0.25 0.23 0.25 + 0.01 0.49 0.12 0.08 0.07 0.08 + 0.01 0.09 0.06 0.46 0.46 0.46 - 0.01 0.60 0.37 0.61 0.57 0.57 - 0.03 0.77 0.47 0.78 0.75 0.76 + 0.00 0.96 0.45 0.99 0.91 0.95 - 0.03 1.23 0.59 27.65 26.41 27.43 + 0.28 29.20 19.23 0.07 0.06 0.06 + 0.01 0.11 0.05 0.05 0.05 0.05 + 0.00 0.09 0.03 0.04 0.04 0.04 - 0.01 0.09 0.02 3.14 3.02 3.08 - 0.03 5.10 2.97 2.45 2.35 2.43 - 0.03 4.10 2.35 0.11 0.09 0.09 - 0.02 0.22 0.06 0.15 0.12 0.12 - 0.02 0.30 0.09 0.19 0.00 0.17 unch 0.00 0.25 0.14 0.15 0.14 0.14 - 0.01 0.37 0.07 0.21 0.17 0.19 - 0.03 0.52 0.10 0.03 0.03 0.03 + 0.00 0.17 0.01

N-O NA Frac Sand* O 268 NACCO Ind* N 66 Namibia Rare E V 1061 Namibia Rare E* O 478 Napier Vent V 33 Napier Vent* O 60 Natural Res Pt* N 239 Nautilus Mnrls T 536 O 645 Nautilus Mnrls* Navis Res Corp* O 26 27 Navis Res Corp Nemaska Lith T 2416 Nemaska Lith* O 446 Neo Lithium V 198 Neometals* O 148 O 19 Network Expl* Network Expl V 159 Nevada Clean M V 269 Nevada Clean M* O 105 T 1211 Nevada Copper Nevada Energy* O 18 V 20 Nevada Energy Nevada Expl * O 14 Nevada Expl V 61 Nevada Sunrise* O 62 V 92 Nevada Sunrise Nevada Zinc V 947 Nevado Res V 23 Nevsun Res* X 3254 Nevsun Res T 3314 New Age Metals* O 177 New Age Metals V 885 New Carolin Gd* O 8 New Carolin Gd V 346 New Destiny Mg V 14 32 New Energy Met* O New Energy Met V 277 New Gold* X 19215 New Gold T 5898 New Guinea Gld* O 156 New Jersey Mng* O 325 New Milln Iron* O 3 New Milln Iron T 552 New Nadina V 120 New Nadina* O 6 New Oroperu V 10 51 New Pac Metals V New Pac Metals* O 4 756 New Point Expl New Stratus V 608 New Tech Lith* O 125 New Tech Lith 94 83 New World Res V New World Res* O 1 Newlox Gold 55 Newmac Res V 13 N 24836 Newmont Mng* Newport Expl V 135 O 90 Newport Gold* NewRange Gold* O 151 V 185 NewRange Gold Nexa Resources T 1 N 2571 Nexa Resources* Nexco Res 50

20-23_MAY14_StockTables.indd 22

0.01 0.01 0.01 + 0.00 0.09 0.01 37.95 34.70 36.50 - 0.15 48.85 14.45 0.38 0.24 0.28 - 0.08 0.38 0.04 2.77 0.19 0.23 - 0.05 2.77 0.03 0.47 0.45 0.45 - 0.03 0.54 0.33 0.38 0.38 0.38 unch 0.00 0.44 0.32 34.40 31.15 33.35 - 0.65 37.70 22.81 0.23 0.20 0.21 - 0.02 0.39 0.14 0.18 0.16 0.16 - 0.02 0.31 0.11 0.30 0.29 0.29 unch 0.00 1.51 0.18 0.39 0.00 0.38 unch 0.00 2.50 0.33 1.32 1.27 1.30 + 0.03 2.44 0.95 1.06 0.97 1.02 + 0.02 1.96 0.70 1.40 1.25 1.40 + 0.10 2.75 0.85 0.28 0.23 0.24 - 0.04 0.80 0.20 0.24 0.22 0.23 + 0.01 0.39 0.22 0.31 0.00 0.30 - 0.01 0.48 0.29 0.04 0.04 0.04 + 0.01 0.08 0.03 0.04 0.02 0.03 + 0.01 0.08 0.02 0.71 0.63 0.66 - 0.04 0.84 0.41 0.20 0.00 0.18 - 0.00 0.70 0.07 0.29 0.24 0.24 - 0.01 0.80 0.20 0.22 0.19 0.22 + 0.02 0.35 0.18 0.30 0.25 0.29 + 0.03 0.46 0.23 0.14 0.13 0.14 - 0.00 0.27 0.09 0.18 0.16 0.17 unch 0.00 0.35 0.12 0.19 0.17 0.17 unch 0.00 0.38 0.16 0.04 0.04 0.04 unch 0.00 0.05 0.02 2.98 2.65 2.95 + 0.20 2.85 1.96 3.83 3.42 3.82 + 0.24 3.64 2.49 0.08 0.06 0.07 - 0.01 0.15 0.04 0.09 0.08 0.08 - 0.02 0.19 0.05 0.38 0.38 0.38 unch 0.00 0.58 0.18 0.48 0.42 0.43 - 0.05 0.77 0.20 0.21 0.18 0.19 - 0.04 0.35 0.11 0.60 0.50 0.53 - 0.01 0.60 0.50 0.79 0.62 0.68 - 0.01 0.90 0.26 2.51 2.32 2.43 + 0.04 4.25 2.22 3.22 2.97 3.17 + 0.08 5.16 2.85 0.00 0.00 0.00 - 0.00 0.00 0.00 0.21 0.19 0.20 - 0.01 0.22 0.10 0.05 0.05 0.05 unch 0.00 0.12 0.05 0.09 0.08 0.08 - 0.01 0.17 0.07 0.23 0.19 0.19 - 0.04 4.60 0.08 0.17 0.15 0.17 unch 0.00 3.60 0.07 0.35 0.33 0.33 unch 0.00 0.55 0.28 1.45 0.00 1.43 - 0.06 1.67 1.12 1.16 0.00 1.16 + 0.02 1.29 0.80 0.30 0.28 0.28 - 0.02 0.35 0.11 0.35 0.16 0.35 + 0.16 0.48 0.08 0.03 0.03 0.03 unch 0.00 0.19 0.03 0.06 0.05 0.06 - 0.01 0.17 0.05 0.27 0.25 0.26 - 0.01 0.29 0.10 0.18 0.18 0.18 unch 0.00 0.19 0.09 0.05 0.04 0.04 - 0.01 0.08 0.03 0.07 0.00 0.07 unch 0.00 0.09 0.05 40.35 38.67 39.65 - 1.01 42.04 31.42 0.36 0.00 0.34 - 0.01 0.36 0.19 0.04 0.03 0.03 - 0.00 0.08 0.00 0.21 0.18 0.20 + 0.01 0.59 0.05 0.26 0.00 0.26 + 0.01 0.75 0.23 22.84 21.56 21.56 - 0.81 26.70 19.80 17.94 16.50 17.22 - 0.61 21.61 15.27 0.27 0.25 0.26 unch 0.00 0.50 0.15

(100s) Stock

Week

(100s) Stock

12-month

Exc Volume High Low Last Change High Low

Nexgen Energy T 4900 X 1942 Nexgen Energy* NextSource Mat T 891 Nexus Gold V 319 Nexus Gold* O 40 NGEx Res* O 4 NGEx Res T 165 Nickel Creek T 134 Nickel Creek* O 232 64 Nickel North V Nickel One Res V 440 Nicola Mg Inc V 310 Nicola Mg Inc* O 0 O 131 Nighthawk Gold* Nighthawk Gold T 231 V 153 Niobay Metals Niocan Inc V 41 Niocorp Dev T 188 Niocorp Dev* O 358 V 36 Nippon Dragon Nippon Dragon* O 64 Nitinat Mnls* O 0 Nitinat Mnls V 1667 O 34 NKWE Platinum* Noble Metal Gr V 12 37 Noble Mnl Expl* O Noble Mnl Expl V 537 Noka Res* O 827 Noram Vent* O 22 Noram Vent V 281 Noranda Alum* O 66 Noront Res V 890 Nortec Mnls V 89 North Am Nickl V 1115 North Am Nickl* O 29 North Am Pall T 201 North Am Pall* O 38 15 North Arrow Mn* O North Arrow Mn V 27 Northcliff Res T 45 Northern Uran V 50 V 15 Northisle C&G Northland Res* O 1 O 132 Northn Empire* Northn Empire V 595 Norvista Cap V 64 Nouveau Monde* O 49 V 607 Nouveau Monde NovaGold Res T 781 X 6386 NovaGold Res* Novo Res* O 416 Novo Res V 1000 NRG Metals* O 1164 NRG Metals V 840 Nrthn Graphite* O 129 V 191 Nrthn Graphite Nrthn Lion* O 2 Nrthn Lion V 2 Nrthn Mnrls &E* O 86 Nrthn Shield V 629 Nrthn Superior* O 23 V 944 Nrthn Superior Nrthn Vertex* O 75 Nrthn Vertex V 161 NSGold V 7 249 NSS Res Inc Nthn Dynasty T 665 X 4599 Nthn Dynasty* Nthrn Sphere* O 25 Nthrn Sphere 827 Nubian Res V 76 V 677 NuLegacy Gold NuLegacy Gold* O 626 V 131 Nunavik Nickel Nutrien T 3576 N 5283 Nutrien* NV Gold* O 54 NV Gold V 282 NX Uranium* O 1 NxGold Ltd* O 49 NxGold Ltd V 143 Nyrstar NV* O 1 O.T. Mining* O 10 OceanaGold* O 11 OceanaGold T 7525 Oceanic Iron O V 162 O 6 Oceanus Res* Oceanus Res V 27 Odyssey Res V 6 OK2 Minerals V 455 Olivut Res V 222 Olivut Res* O 46 Omineca Mg &Ml V 393 One World Lith 373 O 0 Opawica Expl* Opawica Expl V 106 Opus One Res V 554 Orbite Tech* O 420 Orca Gold V 1042 Orca Gold* O 76 V 688 Orefinders Res Orestone Mng V 9 Orex Mnrls* O 34 Orex Mnrls V 182 O 107 Orezone Gold* Orezone Gold V 269 Orford Mining V 42 Organic Potash 83 27 Orla Mng Ltd* O Orla Mng Ltd V 171 Oro East Mg* O 350 Oroco Res V 810 Oroco Res* O 345 Orocobre T 166 V 143 Oronova Energy Oroplata Res* O 1129 Orosur Mng T 135 Orsu Metals V 139 Orsu Metals* O 0 Orvana Mnrls T 53 O 17 Orvana Mnrls* Osisko Gold T 2518 Osisko Gold* N 2158 Osisko Metals V 402 O 49 Osisko Metals* Osisko Mng Inc T 1779 Osprey Gold V 219 Otis Gold V 198 Otis Gold* O 60 OZ Minerals* O 7

2.80 2.44 2.63 + 0.06 3.58 2.12 2.18 1.89 2.03 - 0.03 3.20 1.65 0.12 0.11 0.11 + 0.01 0.22 0.06 0.25 0.19 0.25 + 0.05 2.55 0.19 0.20 0.15 0.20 + 0.05 0.22 0.02 0.85 0.81 0.81 - 0.05 1.10 0.58 1.10 1.00 1.01 - 0.09 1.49 0.75 0.28 0.25 0.26 - 0.01 0.41 0.23 0.22 0.19 0.19 - 0.02 0.33 0.17 0.04 0.03 0.04 + 0.01 0.05 0.02 0.05 0.04 0.05 - 0.01 0.13 0.02 0.16 0.16 0.16 unch 0.00 0.25 0.14 0.00 0.00 0.13 unch 0.00 0.18 0.11 0.51 0.47 0.48 unch 0.00 0.97 0.45 0.65 0.61 0.61 - 0.02 1.15 0.57 0.26 0.24 0.24 - 0.01 0.70 0.11 0.08 0.00 0.08 + 0.02 0.18 0.06 0.60 0.55 0.60 + 0.03 0.87 0.37 0.47 0.43 0.46 + 0.02 0.65 0.29 0.05 0.04 0.04 - 0.01 0.08 0.04 0.04 0.03 0.03 unch 0.00 0.06 0.02 0.00 0.00 0.28 unch 0.00 0.36 0.03 0.27 0.16 0.16 - 0.13 0.51 0.04 0.06 0.05 0.05 - 0.00 2.04 0.00 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.10 0.10 0.10 + 0.00 0.15 0.03 0.13 0.13 0.13 - 0.01 0.19 0.04 0.28 0.21 0.27 + 0.03 0.30 0.05 0.25 0.23 0.23 - 0.02 0.64 0.17 0.28 0.20 0.28 unch 0.00 0.80 0.20 0.05 0.03 0.04 unch 0.00 0.17 0.01 0.36 0.33 0.34 - 0.02 0.52 0.22 0.10 0.08 0.08 - 0.02 0.18 0.06 0.07 0.06 0.07 unch 0.00 0.10 0.06 0.05 0.04 0.05 - 0.00 0.08 0.04 11.10 10.60 10.92 + 0.32 11.60 4.65 8.61 8.33 8.50 + 0.18 9.31 3.57 0.16 0.16 0.16 unch 0.00 0.23 0.15 0.23 0.21 0.23 + 0.02 0.31 0.18 0.11 0.10 0.10 unch 0.00 0.22 0.09 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.14 0.11 0.13 unch 0.00 0.21 0.09 0.00 0.00 0.00 unch 0.00 2.00 0.00 1.15 1.02 1.13 - 0.02 1.29 0.47 1.47 1.30 1.46 unch 0.00 1.62 0.58 0.11 0.09 0.10 - 0.01 0.16 0.08 0.25 0.23 0.25 + 0.01 0.42 0.19 0.32 0.30 0.32 + 0.01 0.54 0.26 6.47 6.04 6.44 + 0.34 6.47 4.33 5.05 4.70 5.02 + 0.27 5.04 3.35 4.30 3.72 4.19 + 0.23 7.08 0.49 5.58 4.82 5.40 + 0.36 8.83 0.67 0.24 0.22 0.22 - 0.02 0.49 0.07 0.31 0.28 0.29 - 0.01 0.62 0.09 0.23 0.21 0.22 - 0.01 0.55 0.19 0.30 0.28 0.29 unch 0.00 0.70 0.24 0.42 0.16 0.16 - 0.05 0.52 0.16 0.53 0.00 0.53 unch 0.00 0.67 0.31 0.06 0.04 0.06 + 0.02 0.07 0.01 0.03 0.02 0.03 + 0.01 0.09 0.02 0.04 0.03 0.03 - 0.01 0.05 0.02 0.04 0.04 0.04 unch 0.00 0.07 0.03 0.38 0.35 0.38 + 0.01 0.58 0.34 0.48 0.45 0.46 - 0.01 0.70 0.44 0.11 0.11 0.11 unch 0.00 0.15 0.02 0.25 0.19 0.20 - 0.04 1.39 0.05 1.16 1.05 1.12 + 0.02 3.30 1.00 0.91 0.81 0.89 + 0.03 2.42 0.81 0.08 0.05 0.08 + 0.01 0.28 0.05 0.12 0.08 0.11 + 0.02 0.45 0.05 0.24 0.23 0.23 unch 0.00 0.38 0.17 0.19 0.17 0.17 - 0.02 0.30 0.15 0.15 0.13 0.14 - 0.01 0.23 0.12 0.11 0.00 0.11 unch 0.00 0.17 0.08 60.13 57.86 59.84 + 0.41 70.05 55.27 46.83 44.94 46.53 + 0.27 56.18 40.41 0.46 0.41 0.44 + 0.01 0.92 0.14 0.59 0.50 0.55 unch 0.00 1.22 0.19 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.14 0.13 0.14 - 0.00 0.26 0.13 0.20 0.15 0.16 - 0.02 0.48 0.15 6.76 6.76 6.76 - 0.60 8.25 6.15 0.08 0.05 0.06 unch 0.00 0.20 0.03 2.67 2.53 2.54 - 0.08 3.60 2.23 3.49 3.37 3.42 - 0.02 4.94 2.92 0.09 0.08 0.08 unch 0.00 0.20 0.06 0.18 0.18 0.18 + 0.01 0.29 0.14 0.23 0.22 0.23 unch 0.00 0.36 0.18 0.04 0.04 0.04 unch 0.00 0.08 0.04 0.05 0.05 0.05 unch 0.00 0.14 0.04 0.11 0.09 0.09 - 0.02 0.20 0.08 0.09 0.07 0.07 - 0.01 0.15 0.06 0.05 0.00 0.05 + 0.02 0.06 0.03 0.15 0.13 0.14 - 0.01 0.17 0.10 0.00 0.00 0.08 unch 0.00 0.23 0.08 0.09 0.00 0.07 - 0.02 0.40 0.07 0.08 0.07 0.08 - 0.01 0.13 0.06 0.05 0.00 0.00 - 0.02 0.15 0.00 0.64 0.54 0.63 + 0.06 0.78 0.36 0.49 0.42 0.48 + 0.04 0.63 0.27 0.12 0.11 0.12 - 0.01 0.17 0.05 0.12 0.00 0.12 + 0.03 0.13 0.05 0.11 0.10 0.11 + 0.01 0.15 0.08 0.15 0.14 0.15 + 0.01 0.19 0.10 0.67 0.60 0.61 - 0.08 0.82 0.38 0.86 0.77 0.80 - 0.06 1.02 0.51 0.27 0.27 0.27 unch 0.00 0.70 0.23 0.03 0.02 0.02 - 0.02 0.05 0.01 1.09 1.06 1.09 + 0.01 1.48 0.88 1.43 1.32 1.32 - 0.04 1.85 1.04 0.01 0.00 0.01 unch 0.00 0.01 0.00 0.25 0.18 0.24 + 0.07 0.23 0.02 0.19 0.14 0.19 + 0.05 0.17 0.02 5.57 5.37 5.46 + 0.18 7.36 3.04 0.13 0.11 0.11 unch 0.00 0.22 0.09 0.14 0.10 0.14 + 0.04 0.26 0.06 0.09 0.08 0.08 - 0.01 0.30 0.08 0.19 0.18 0.19 + 0.01 0.30 0.13 0.00 0.00 0.14 unch 0.00 0.22 0.11 0.23 0.22 0.23 + 0.01 0.33 0.17 0.18 0.17 0.18 unch 0.00 0.25 0.14 12.98 12.33 12.97 + 0.17 17.58 11.90 10.09 9.56 10.08 + 0.17 14.39 9.31 0.63 0.57 0.58 - 0.08 1.74 0.35 0.48 0.45 0.45 - 0.05 1.33 0.39 2.87 2.61 2.80 + 0.15 5.24 2.34 0.08 0.06 0.08 + 0.01 0.44 0.06 0.31 0.26 0.27 - 0.02 0.38 0.17 0.24 0.20 0.21 - 0.01 0.29 0.13 7.27 0.00 7.27 + 0.36 7.80 4.70

Pac Bay Mnrls V 54 7 Pac Booker Min* O Pac Booker Min V 5 Pac Imperial V 50 5 Pac Iron Ore V Pac Link Mng V 63 Pac Potash V 36 Pac Ridge Expl* O 15 83 Pac Ridge Expl V Pac Wildcat* O 160 V 270 Pacific Empire Pacific Rim 423 Pacific Rim* O 55 Pacton Gold V 4276 O 55 Paladin Energy* Palamina Corp V 122 O 67 Palamina Corp* Palladon Vent* O 1 Pan Am Silver T 1062 Pan Am Silver* D 5571 Pan Andean Min* O 3 Pan Andean Min V 522 Pan Global Res V 176 V 181 Pancontinental Pancontinental* O 183 Panex Res* O 45 Pangolin Dia V 525 Panoro Mnrls V 388 PanTerra Gold* O 0 V 355 Pantheon Vent Para Resources V 745 Parallel Mng V 4

0.04 0.03 0.04 + 0.01 0.06 0.03 0.89 0.78 0.78 - 0.10 1.10 0.35 1.01 0.77 1.00 - 0.05 1.44 0.42 0.05 0.05 0.05 unch 0.00 0.07 0.01 0.13 0.13 0.13 unch 0.00 0.23 0.11 0.12 0.10 0.12 + 0.02 0.12 0.02 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.04 0.04 0.04 + 0.00 0.06 0.03 0.07 0.06 0.06 unch 0.00 0.07 0.05 0.09 0.02 0.05 + 0.03 0.05 0.00 0.17 0.15 0.16 - 0.02 0.20 0.13 0.45 0.35 0.36 - 0.08 1.59 0.33 0.35 0.27 0.27 - 0.08 1.25 0.29 0.36 0.27 0.35 + 0.06 0.40 0.06 0.25 0.00 0.22 + 0.12 0.50 0.00 0.42 0.35 0.42 + 0.04 0.47 0.15 0.33 0.29 0.33 + 0.02 0.37 0.12 0.00 0.00 0.00 unch 0.00 0.00 0.00 21.64 20.47 21.27 - 0.27 25.30 18.00 16.87 15.91 16.56 - 0.25 19.56 13.99 0.04 0.04 0.04 unch 0.00 0.05 0.02 0.05 0.03 0.04 + 0.01 0.08 0.03 0.20 0.19 0.19 - 0.01 0.30 0.07 0.07 0.00 0.07 unch 0.00 0.09 0.02 0.06 0.04 0.04 - 0.01 0.07 0.01 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.08 0.06 0.07 unch 0.00 0.09 0.04 0.37 0.33 0.35 + 0.02 0.48 0.15 0.00 0.00 0.01 unch 0.00 0.02 0.01 0.09 0.08 0.09 + 0.01 0.17 0.08 0.24 0.21 0.23 + 0.02 0.25 0.13 0.05 0.00 0.05 unch 0.00 0.10 0.04

P-Q

Week

12-month

Exc Volume High Low Last Change High Low

Paramount Gold* X 246 Paringa Res* O 6 Parlane Res V 6 Pasinex Res 448 Patriot Gold 2 Patriot Gold* O 123 Peabody Enrgy* N 5597 Pedro Res V 41 Pelangio Expl* O 46 Pelangio Expl V 1489 57 Pele Mtn Res* O Pele Mtn Res V 662 Peloton Mnrls* O 3 Peloton Mnrls 36 PepinNini Lith* O 250 T 79 Peregrine Diam Perseus Mng T 213 Pershing Gold T 2 D 131 Pershing Gold* O 325 Pershing Res* Petra Diamonds* O 0 Philex Mng* O 9 Philippine Mtl V 480 Pine Cliff En T 435 Pine Cliff En* O 20 Pinecrest Res * O 30 Pinecrest Res V 148 Pistol Bay Mng V 893 Pistol Bay Mng* O 96 PJSC Polyus Gd* O 1 PJX Res V 82 Plata Latina V 316 Plate Res V 5 Plateau Energy* O 31 V 413 Plateau Energy Platinex Inc 1061 Platinum Gp Mt T 1049 Platinum Gp Mt* X 5105 Plato Gold V 841 Playfair Mng V 522 Playfair Mng* O 2 PolyMet Mng T 18 X 1115 PolyMet Mng* Portage Res* O 287 Portex Mnrls* O 2 Portofino Res V 817 O 647 Potash Ridge* Potash Ridge T 5401 O 413 Power Metals* Power Metals V 744 PPX Mining V 399 PPX Mining* O 363 Precipitate Gl V 229 Premier Gold M T 1268 O 11 Premium Expl* Pretium Res* N 6891 Pretium Res T 1931 Primary Cobalt 126 Primero Mng T 1546 Primero Mng* O 367 Prism Res V 154 Prize Mng* O 42 Prize Mng V 530 ProAm Expl V 45 O 15 Probe Metals* Probe Metals V 71 19 Promithian Gl * O Prophecy Coal* O 29 T 60 Prophecy Coal Prospect Glob* O 2 O 25 Prospector Res* Prospector Res V 27 Prosper Gold V 95 Prospero Silvr V 110 O 21 Prospero Silvr* Provenance Gld 46 Providence V 107 Providence Gld* O 7 PUF Vent Inc 1009 PUF Vent Inc * O 158 Puma Expl V 484 Puma Expl* O 398 Pure Energy* O 678 Pure Energy V 735 Pure Gold Mg* O 237 Pure Gold Mg V 527 Pure Nickel* O 25 Pure Nickel V 222 Purepoint Uran V 867 Q-Gold Res* O 11 Q-Gold Res V 11 QMC Quantum Ml* O 326 QMC Quantum Ml V 247 QMX Gold* O 6 QMX Gold V 1082 Quadro Res V 92 Quantum Cobalt 209 0 Quartz Mtn Res V Quaterra Res V 402 O 466 Quaterra Res* Quest Rare Mnl* O 434 Quinto Res V 100

1.64 1.45 1.50 - 0.14 1.80 1.16 0.24 0.23 0.23 - 0.01 0.45 0.24 0.20 0.00 0.20 unch 0.00 0.30 0.11 0.22 0.19 0.19 - 0.01 0.33 0.16 0.00 0.00 0.10 unch 0.00 0.15 0.09 0.10 0.08 0.08 - 0.00 0.11 0.05 38.40 35.90 37.87 + 1.73 41.98 22.58 0.25 0.22 0.25 unch 0.00 0.50 0.13 0.03 0.02 0.02 - 0.01 0.05 0.02 0.04 0.03 0.03 - 0.01 0.06 0.03 0.05 0.03 0.03 - 0.02 0.40 0.01 0.05 0.04 0.04 - 0.02 0.20 0.04 0.09 0.09 0.09 - 0.02 0.12 0.05 0.13 0.12 0.13 - 0.02 0.15 0.05 0.02 0.02 0.02 unch 0.00 0.07 0.02 0.16 0.15 0.15 unch 0.00 0.23 0.11 0.46 0.42 0.46 unch 0.00 0.50 0.27 2.56 0.00 2.56 - 0.09 4.15 2.32 2.07 1.98 2.04 unch 0.00 3.31 1.83 0.03 0.01 0.02 - 0.01 0.09 0.01 0.00 0.00 0.98 unch 0.00 1.64 0.85 0.09 0.09 0.09 unch 0.00 0.19 0.09 0.08 0.06 0.06 - 0.02 0.16 0.05 0.32 0.30 0.32 + 0.01 0.86 0.27 0.24 0.24 0.24 + 0.00 0.64 0.21 0.17 0.17 0.17 unch 0.00 0.34 0.17 0.22 0.20 0.21 - 0.01 0.56 0.20 0.05 0.04 0.04 - 0.02 0.09 0.04 0.04 0.03 0.03 - 0.02 0.08 0.03 32.20 0.00 32.00 unch 0.00 50.23 29.00 0.18 0.17 0.18 - 0.01 0.22 0.11 0.04 0.04 0.04 unch 0.00 0.05 0.03 0.10 0.10 0.10 + 0.03 0.10 0.04 0.50 0.43 0.50 + 0.06 0.78 0.21 0.65 0.55 0.64 + 0.05 0.96 0.26 0.12 0.09 0.10 - 0.01 0.30 0.05 0.26 0.21 0.21 - 0.07 1.66 0.21 0.22 0.15 0.17 - 0.05 1.23 0.15 0.05 0.04 0.05 unch 0.00 0.06 0.01 0.06 0.05 0.06 unch 0.00 0.10 0.04 0.04 0.04 0.04 unch 0.00 0.08 0.03 1.09 1.05 1.06 + 0.05 1.66 0.71 0.86 0.82 0.83 + 0.01 1.36 0.57 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.07 0.06 0.07 + 0.01 0.19 0.04 0.09 0.06 0.06 - 0.02 0.22 0.05 0.11 0.08 0.08 - 0.03 0.31 0.07 0.46 0.40 0.43 + 0.00 0.70 0.20 0.58 0.52 0.54 unch 0.00 0.88 0.25 0.10 0.08 0.09 unch 0.00 0.10 0.05 0.07 0.07 0.07 - 0.01 0.08 0.04 0.06 0.06 0.06 - 0.01 0.19 0.06 2.93 2.65 2.91 + 0.21 4.13 2.50 0.01 0.00 0.01 - 0.00 0.02 0.00 7.09 6.69 7.00 + 0.20 12.44 6.17 9.10 8.60 9.01 + 0.25 15.52 7.93 0.14 0.11 0.13 + 0.03 0.15 0.10 0.28 0.26 0.28 + 0.01 0.74 0.08 0.22 0.20 0.22 + 0.01 0.70 0.06 0.08 0.07 0.08 + 0.01 0.20 0.07 0.15 0.13 0.13 - 0.03 0.52 0.14 0.20 0.18 0.18 - 0.03 0.72 0.18 0.04 0.03 0.04 + 0.01 0.04 0.02 1.02 0.00 1.02 + 0.01 1.42 0.95 1.36 1.27 1.31 - 0.01 1.74 1.22 0.02 0.00 0.02 unch 0.00 0.10 0.02 2.45 2.29 2.37 + 0.07 4.00 1.93 3.20 2.83 3.03 + 0.09 5.00 2.40 0.06 0.06 0.06 unch 0.00 0.14 0.03 0.68 0.68 0.68 unch 0.00 0.84 0.38 0.92 0.83 0.90 unch 0.00 1.84 0.48 0.12 0.10 0.10 - 0.01 0.24 0.08 0.10 0.09 0.09 unch 0.00 0.34 0.08 0.08 0.07 0.07 - 0.01 0.25 0.07 0.20 0.18 0.18 - 0.02 0.40 0.08 0.15 0.14 0.14 - 0.03 0.27 0.09 0.13 0.12 0.12 - 0.01 0.15 0.10 0.73 0.60 0.67 - 0.04 2.09 0.31 0.60 0.47 0.53 - 0.03 1.85 0.25 0.08 0.07 0.07 - 0.01 0.13 0.06 0.06 0.06 0.06 unch 0.00 0.09 0.04 0.23 0.18 0.19 - 0.01 0.50 0.18 0.27 0.24 0.24 - 0.02 0.65 0.24 0.53 0.49 0.51 + 0.01 0.56 0.35 0.67 0.64 0.66 + 0.02 0.71 0.46 0.02 0.00 0.02 + 0.00 0.04 0.00 0.03 0.02 0.03 + 0.01 0.05 0.01 0.08 0.07 0.07 unch 0.00 0.10 0.06 0.08 0.08 0.08 unch 0.00 0.08 0.06 0.11 0.11 0.11 unch 0.00 0.30 0.10 0.43 0.38 0.41 unch 0.00 1.46 0.07 0.54 0.50 0.53 + 0.02 1.85 0.09 0.12 0.10 0.12 + 0.01 0.29 0.10 0.17 0.14 0.16 + 0.02 0.40 0.14 0.06 0.06 0.06 unch 0.00 0.18 0.04 0.33 0.24 0.26 - 0.03 1.90 0.20 0.00 0.00 0.90 unch 0.00 1.50 0.55 0.08 0.07 0.08 - 0.01 0.13 0.05 0.06 0.05 0.06 - 0.00 0.10 0.03 0.00 0.00 0.00 unch 0.00 0.10 0.00 0.12 0.09 0.10 - 0.03 0.14 0.05

Rackla Mtls V 7 Rackla Mtls* O 1 Radisson Mng V 319 Radius Gold V 89 O 2 Rainforest Res* Rainy Mtn Royl V 352 Rambler Ml &Mg V 85 Randgold Res* O 2 Randgold Res* D 1960 V 6 Randsburg Intl Rare Element* O 269 V 1354 Rathdowney Res Ravencrest Res 3098 57 Razore Rock Res RB Energy* O 322 Red Eagle Expl V 2020 Red Eagle Mng* O 81 Red Eagle Mng T 847 Red Moon Res V 135 Red Oak Mg V 359 Red Pine Expl V 1002 Redhawk Res T 240 Redstar Gold V 633 O 646 Redstar Gold* Redzone Res V 454 O 23 Redzone Res* Regency Gold V 0 Regulus Res V 39 Reliant Gold 190 V 7 Remington Res Renaissance Gd* O 85 V 244 Renaissance Gd Renforth Res 1548 Resolve Vent V 421 Resource Cap V 81 O 11 Resource Cap* Reunion Gold V 321 Revelo Res V 1375 Revival Gold * O 158 Revival Gold V 481 V 5 Richmond Mnls Ridgestone M’g V 50 Rift Valley 228 Rimrock Gold* O 37443 Rio Silver V 318 Rio Tinto* N 10372 O 33 Rio Tinto* Rio Tinto* O 1 Rise Gold Corp 1041 River Wild Exp 3 Riverside Res V 234 Riverside Res* O 28 Rizal Res V 305 RJK Explor V 9 RJK Explor* O 3 Robex Res V 156 V 8 Rochester Res Rochester Res* O 2 14 Rock Tech Lith* O Rock Tech Lith V 172 Rockcliff Met V 515 Rockcliff Met* O 1 Rockex Mng 8 Rockhaven Res V 90 V 81 Rockridge Res Rockshield Cap* O 628 Rockshield Cap 2947

0.12 0.00 0.12 + 0.02 0.17 0.08 0.08 0.08 0.08 + 0.00 0.13 0.05 0.15 0.14 0.15 + 0.01 0.25 0.13 0.10 0.10 0.10 unch 0.00 0.16 0.09 7.00 0.00 6.70 - 0.30 9.45 1.00 0.04 0.03 0.04 + 0.01 0.17 0.03 0.11 0.11 0.11 - 0.01 0.20 0.08 81.63 81.55 81.55 + 1.71 103.90 79.84 82.95 79.74 81.61 + 0.14 108.29 77.70 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.22 0.17 0.21 unch 0.00 0.44 0.07 0.15 0.11 0.11 - 0.04 0.30 0.11 1.21 0.80 1.12 + 0.35 2.10 0.05 0.18 0.18 0.18 unch 0.00 0.90 0.09 0.00 0.00 0.00 + 0.00 0.00 0.00 0.13 0.13 0.13 unch 0.00 0.18 0.06 0.20 0.18 0.18 - 0.03 0.52 0.17 0.26 0.24 0.25 - 0.02 0.70 0.23 0.10 0.07 0.09 + 0.02 0.16 0.03 0.15 0.13 0.13 - 0.02 0.25 0.06 0.08 0.07 0.08 unch 0.00 0.14 0.06 0.03 0.02 0.02 unch 0.00 0.10 0.02 0.05 0.04 0.04 unch 0.00 0.15 0.04 0.04 0.03 0.03 unch 0.00 0.12 0.03 0.28 0.22 0.22 - 0.04 0.75 0.10 0.22 0.20 0.21 + 0.01 0.57 0.08 0.00 0.00 0.28 unch 0.00 0.28 0.10 1.79 1.70 1.75 - 0.03 3.00 1.46 0.03 0.03 0.03 unch 0.00 0.04 0.02 0.31 0.00 0.30 - 0.06 1.45 0.30 0.18 0.16 0.16 - 0.01 0.38 0.16 0.24 0.20 0.21 - 0.02 0.48 0.20 0.05 0.04 0.04 - 0.01 0.09 0.03 0.12 0.08 0.08 - 0.03 0.69 0.08 0.08 0.00 0.07 - 0.01 0.21 0.07 0.06 0.06 0.06 - 0.00 0.15 0.05 0.14 0.11 0.12 - 0.01 0.18 0.10 0.03 0.03 0.03 unch 0.00 0.07 0.02 0.53 0.47 0.52 + 0.05 0.70 0.42 0.68 0.60 0.68 + 0.08 0.86 0.21 0.05 0.05 0.05 unch 0.00 0.18 0.04 0.48 0.47 0.48 + 0.01 0.48 0.47 0.10 0.08 0.09 - 0.01 0.15 0.05 0.00 0.00 0.00 - 0.00 0.00 0.00 0.04 0.04 0.04 unch 0.00 0.07 0.04 55.89 53.88 55.62 + 0.48 59.25 37.66 55.00 0.00 55.00 - 0.15 58.07 37.20 60.32 0.00 59.74 - 0.58 65.30 44.10 0.11 0.10 0.11 unch 0.00 0.30 0.09 0.20 0.20 0.20 unch 0.00 0.22 0.02 0.27 0.24 0.25 + 0.01 0.50 0.22 0.20 0.18 0.20 + 0.02 0.36 0.17 0.03 0.00 0.03 - 0.01 0.06 0.02 0.07 0.07 0.07 - 0.01 0.23 0.06 0.05 0.05 0.05 unch 0.00 0.14 0.04 0.11 0.10 0.10 unch 0.00 0.14 0.06 0.08 0.00 0.08 + 0.02 0.09 0.04 0.04 0.04 0.04 unch 0.00 0.06 0.02 1.10 0.00 1.10 + 0.13 1.66 0.59 1.49 1.23 1.49 + 0.23 2.16 0.76 0.05 0.04 0.04 - 0.01 0.12 0.04 0.04 0.04 0.04 + 0.01 0.10 0.03 0.04 0.04 0.04 - 0.01 0.05 0.01 0.16 0.14 0.14 - 0.01 0.19 0.12 0.28 0.22 0.28 + 0.06 0.50 0.22 0.30 0.20 0.21 - 0.05 0.67 0.06 0.38 0.26 0.28 - 0.06 0.84 0.09

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

V 20 Rockwealth Res Rodinia Lithm V 92 Rogue Res* O 10 Rogue Res V 88 V 336 Rokmaster Res 89 Romios Gold Rs V 77 Romios Gold Rs* O V 136 RosCan Mrnls 0 Rosita Mg Corp* O Rosita Mg Corp V 212 V 1902 Ross River Rotation Mnls V 1045 V 176 Roughrider Exp Roxgold* O 73 T 2505 Roxgold Royal Gold* D 2362 16 Royal Mines &M* O Royal Nickel T 1703 Royal Nickel* O 125 Royal Rd Mnrls V 465 Royal Std Mnrl* O 137 RT Minerals V 1930 RTG Mining T 75 O 16 Rubicon Mnrls* T 74 Rubicon Mnrls Rugby Mng V 264 Running Fox Rs* O 850 19 Running Fox Rs V Rupert Res V 97 Rusoro Mng* O 1918 Rusoro Mng V 1820 67 Rye Patch Gold* O Rye Patch Gold V 576

0.15 unch 0.00 0.30 0.22 0.22 0.22 0.09 0.27 0.00 0.24 - 0.02 0.46 0.16 0.23 0.00 0.23 + 0.03 0.43 0.18 0.29 0.00 0.23 - 0.03 0.58 0.08 0.16 0.02 0.15 + 0.02 0.30 0.07 0.07 0.07 unch 0.00 0.09 0.04 0.06 0.06 0.06 - 0.00 0.07 0.03 0.05 0.08 0.07 0.08 + 0.01 0.10 0.04 0.04 0.04 unch 0.00 0.06 0.01 0.07 0.05 0.05 - 0.02 0.12 0.02 0.03 0.02 0.03 + 0.01 0.03 0.01 0.12 0.17 0.15 0.17 + 0.01 0.45 0.03 0.04 0.03 0.04 + 0.01 0.12 0.78 0.94 0.00 0.94 + 0.04 1.13 1.23 1.15 1.21 + 0.05 1.44 0.98 67.10 89.87 86.50 88.63 - 1.07 94.39 0.01 0.01 0.01 unch 0.00 0.01 0.00 0.16 0.23 0.21 0.22 - 0.01 0.38 0.12 0.18 0.16 0.18 - 0.00 0.31 0.13 0.12 0.13 - 0.01 0.18 0.06 0.00 0.00 0.00 - 0.00 0.01 0.00 0.02 0.02 0.02 0.02 - 0.01 0.14 0.10 0.15 0.14 0.14 - 0.01 0.55 0.90 0.98 0.92 0.94 - 0.05 1.48 1.13 1.25 1.17 1.22 - 0.02 1.88 0.24 0.42 0.32 0.34 - 0.02 0.50 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.03 0.03 0.03 unch 0.00 0.04 0.01 0.68 1.13 1.10 1.10 + 0.01 1.46 0.05 0.07 0.06 0.06 - 0.01 0.16 0.06 0.08 0.07 0.08 - 0.01 0.22 0.92 0.87 0.92 - 0.02 1.52 0.80 1.18 1.12 1.18 unch 0.00 1.95 1.05

T 531 Sabina Gd&Slvr O 388 Sabina Gd&Slvr* Sable Res V 631 Sage Gold* O 5 Sage Gold V 722 Sailfish Rylty V 39 Saint Jean* O 49 Saint Jean V 335 Salazar Res* O 25 Salazar Res V 34 80 Salt Lake Pot* O Sama Res V 1426 Sama Res* O 36 Samco Gold V 15 Samex Mng* O 3279 47 San Gold Corp* O 81 San Marco Res* O San Marco Res V 104 V 249 Sanatana Diam Sandfire Res V 254 Sandfire Res* O 58 O 54 Sandspring Res* V 655 Sandspring Res T 921 Sandstorm Gold X 4713 Sandstorm Gold* Sandy Lake Gld* O 1350 75 Sandy Lake Gld V Santa Fe Gold* O 359 V 306 Santacruz Silv Sarama Res V 306 Sarissa Res* O 1233 Satori Res V 97 Satori Res* O 115 Saturn Mnrls V 178 Savary Gold V 318 Savary Gold* O 440 Saville Res V 3934 Scandium Intl T 183 O 57 Scandium Intl* Scorpio Gold V 397 ScoZinc Mg V 2 ScoZinc Mg* O 27 Seabridge Gld T 268 N 1176 Seabridge Gld* Search Mnls V 23 Searchlight* O 16 Secova Mtls* O 575 Secova Mtls V 7963 Sego Res V 258 Select Sands V 1152 T 4134 Semafo O 13 Senator Mnrls* Senator Mnrls V 19 V 355 Sennen Potash Serabi Gold T 65 Serengeti Res V 253 Shamrock Ent 265 Sherritt Intl T 8400 V 1 Shoshoni Gold 10054 N Sibanye Gold* O 1 Sibanye Gold* O 36 Sidney Resrces* Sienna Res* O 32 Sienna Res V 549 Sierra Metals* X 284 Sierra Metals T 111 O 382 Signature Res* Signature Res V 841 Silver Bear Rs T 151 15 Silver Bear Rs* O Silver Bull Re* O 1366 Silver Bull Re T 1461 O 130 Silver Dragon* Silver Grail V 170 Silver Hill* O 1 48 Silver Mtn Mns V Silver Phoenix 5 O 2 Silver Predatr* Silver Predatr V 21 O 0 Silver Pursuit* Silver Pursuit V 7 Silver Range V 73 Silver Scott* O 42 O 100 Silver Spruce* Silver Spruce V 158 O 3 Silver Stream* Silver Viper V 134 Silver Wheaton T 2762 N 7043 Silver Wheaton* T 1397 Silvercorp Met X 1356 Silvercorp Met* O 233 SilverCrest Mt* V 966 SilverCrest Mt O 6 Silverstar Res* Sirios Res V 154 Sirios Res* O 50 Sitka Gold 174 Skeena Res V 325 Skeena Res* O 62 O 375 Skyharbour Res* V 532 Skyharbour Res Slam Explor* O 8 Slam Explor V 213 O 10 Sojourn Explor* V 436 Sojourn Explor Sokoman Iron V 344 SolGold plc* O 78 SolGold plc T 441 T 64 Solitario Ex&R X 1058 Solitario Ex&R* Sonora Gld & S V 215 Sonora Res * O 429 Sonoro Mtls V 82 Sonoro Mtls* O 20 O 1 Southern Arc* Southern Arc V 16 N 5112 Southern Copp* O 122 Southern Silvr* V 128 Southern Silvr T 56 SouthGobi Res 27 Spanish Mtn Gd* O Spanish Mtn Gd V 759 Sparton Res V 353 Sparton Res* O 32 O 46 Spearmint Res* V 4453 Spearmint Res Sphinx Res V 896 Sprott Res Hld T 996 78 Spruce Ridge R V 60 Squire Mg Ltd SRG Graphite V 543 SSR Mining* D 3307 SSR Mining T 904 St Augustine T 348 10 St Elias Mns* O

1.48 1.70 1.62 1.65 - 0.03 2.70 1.12 1.33 1.23 1.27 - 0.04 2.17 0.12 unch 0.00 0.35 0.28 0.25 0.27 0.06 0.07 0.07 0.07 + 0.01 0.20 0.08 unch 0.00 0.27 0.09 0.08 0.09 1.00 1.75 1.50 1.58 - 0.17 3.07 0.02 0.03 0.02 0.02 - 0.00 0.05 0.03 0.04 0.03 0.03 - 0.01 0.07 0.06 unch 0.00 0.13 0.10 0.10 0.10 0.08 unch 0.00 0.18 0.14 0.14 0.14 0.44 0.41 0.41 - 0.03 0.47 0.27 0.12 0.45 0.36 0.38 - 0.06 0.50 0.10 0.35 0.30 0.30 - 0.04 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 0.01 0.00 nch u 0.00 0.00 0.00 0.17 0.17 0.17 + 0.00 0.23 0.10 0.22 0.21 0.21 - 0.01 0.30 0.13 0.03 0.05 0.04 0.05 + 0.01 0.07 0.06 0.11 0.10 0.10 - 0.01 0.12 0.05 0.09 0.07 0.08 - 0.01 0.10 0.20 0.24 0.22 0.23 - 0.01 0.39 0.27 0.31 0.29 0.30 - 0.01 0.46 4.37 6.18 5.86 6.12 + 0.14 6.95 3.18 4.82 4.56 4.74 + 0.09 5.64 0.06 0.03 0.03 unch 0.00 0.07 0.03 0.07 0.06 0.07 unch 0.00 0.11 0.04 0.13 0.11 0.13 - 0.00 0.20 0.07 0.09 unch 0.00 0.26 0.14 0.13 0.14 0.08 0.12 0.11 0.12 + 0.01 0.20 0.00 0.00 0.00 0.00 - 0.00 0.01 0.07 unch 0.00 0.27 0.09 0.08 0.09 0.07 unch 0.00 0.18 0.08 0.08 0.08 0.07 0.15 0.14 0.15 - 0.01 0.18 0.04 0.06 0.05 0.06 + 0.01 0.09 0.03 0.04 0.04 0.04 - 0.00 0.07 0.06 0.11 0.07 0.08 - 0.01 0.40 0.19 0.17 0.18 + 0.01 0.46 0.16 0.12 0.15 0.13 0.14 + 0.01 0.35 0.02 unch 0.00 0.09 0.03 0.02 0.03 1.00 0.08 1.75 1.20 - 1.29 1.20 0.76 unch 0.00 1.44 0.97 0.91 0.91 12.61 14.04 13.29 13.68 + 0.14 17.65 10.95 10.34 10.65 + 0.15 13.70 9.50 0.03 0.08 0.07 0.08 + 0.01 0.10 0.01 0.02 0.01 0.02 - 0.00 0.06 0.01 unch 0.00 0.06 0.01 0.01 0.01 0.02 unch 0.00 0.08 0.02 0.02 0.02 0.03 0.05 0.04 0.04 - 0.01 0.09 0.33 unch 0.00 1.35 0.35 0.33 0.34 2.68 4.05 3.86 3.99 - 0.08 4.14 0.14 0.15 0.14 0.15 + 0.01 1.57 0.17 0.19 0.00 0.19 - 0.01 1.99 0.30 unch 0.00 1.00 0.39 0.36 0.38 0.05 0.07 0.06 0.06 - 0.01 0.09 0.13 unch 0.00 0.26 0.15 0.14 0.15 0.02 0.05 0.04 0.04 + 0.01 0.08 0.74 1.26 1.14 1.15 + 0.01 1.87 0.05 unch 0.00 0.07 0.05 0.00 0.05 3.37 3.71 3.43 3.45 - 0.12 8.32 0.80 0.84 0.00 0.84 + 0.04 1.34 0.00 unch 0.00 0.02 0.01 0.01 0.01 0.07 0.16 0.10 0.11 - 0.02 0.32 0.09 0.19 0.13 0.15 - 0.05 0.39 2.13 2.78 2.55 2.60 - 0.05 3.10 2.75 0.01 3.84 3.33 + 3.57 3.27 0.04 0.11 0.08 0.09 + 0.02 0.11 0.05 0.13 0.09 0.12 + 0.03 0.15 0.26 0.22 0.24 - 0.01 0.37 0.12 0.20 0.18 0.20 + 0.02 0.27 0.08 0.17 0.15 0.15 - 0.02 0.23 0.06 0.22 0.19 0.19 - 0.03 0.29 0.08 0.00 0.01 0.01 0.01 + 0.00 0.03 0.05 unch 0.00 0.13 0.07 0.06 0.06 0.10 unch 0.00 0.36 0.13 0.13 0.13 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.05 unch 0.00 0.24 0.07 0.07 0.07 0.05 unch 0.00 0.22 0.08 0.08 0.08 0.09 unch 0.00 0.28 0.10 0.10 0.10 0.13 unch 0.00 0.16 0.00 0.00 0.13 0.11 unch 0.00 0.21 0.20 0.00 0.20 0.12 0.17 0.00 0.16 + 0.01 0.29 0.01 unch 0.00 0.24 0.10 0.02 0.02 0.02 unch 0.00 0.06 0.03 0.03 0.03 0.04 0.05 0.04 0.04 - 0.01 0.08 0.01 unch 0.00 1.00 1.00 1.00 1.00 0.15 0.23 0.20 0.22 + 0.01 0.30 23.18 27.53 26.51 27.40 + 0.02 29.90 18.32 21.41 20.61 21.32 - 0.03 22.72 2.72 3.67 3.45 3.59 - 0.12 4.69 2.12 2.85 2.66 2.80 - 0.08 3.67 0.84 2.00 1.75 1.91 + 0.13 2.10 1.05 2.58 2.27 2.47 + 0.21 2.58 0.10 unch 0.00 3.36 0.10 0.00 0.10 0.23 0.27 0.24 0.25 - 0.01 0.49 0.18 unch 0.00 0.36 0.21 0.21 0.21 0.16 0.30 0.21 0.30 + 0.09 0.30 0.40 0.52 0.48 0.51 + 0.03 0.80 0.27 0.40 0.37 0.38 + 0.01 0.66 0.24 0.34 0.30 0.30 - 0.02 0.42 0.31 0.43 0.38 0.38 - 0.02 0.57 0.02 unch 0.00 0.05 0.04 0.04 0.04 0.03 0.04 0.03 0.03 - 0.01 0.07 0.11 0.11 0.11 0.11 + 0.00 0.21 0.11 0.15 0.11 0.15 + 0.03 0.30 0.03 unch 0.00 0.10 0.04 0.04 0.04 0.28 0.40 0.34 0.36 - 0.00 0.60 0.34 0.50 0.46 0.50 + 0.02 0.95 0.51 0.59 0.51 0.53 - 0.07 1.08 0.39 0.47 0.39 0.42 - 0.07 0.88 0.10 0.10 0.10 + 0.01 0.20 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.11 0.18 0.16 0.18 + 0.03 0.20 0.09 unch 0.00 0.14 0.13 0.12 0.12 0.31 0.39 0.39 0.39 + 0.01 0.65 0.36 unch 0.00 0.90 0.52 0.50 0.50 32.63 53.56 50.53 52.96 - 0.31 58.09 0.17 0.19 0.16 0.18 - 0.01 0.35 0.22 0.25 0.22 0.24 - 0.01 0.47 0.10 0.15 0.00 0.13 - 0.02 0.40 0.10 0.07 0.10 unch 0.00 0.14 0.06 0.11 0.10 0.10 - 0.01 0.19 0.08 0.03 0.07 0.06 0.07 - 0.01 0.14 0.02 0.05 0.05 0.05 + 0.00 0.11 0.02 0.05 0.04 0.04 - 0.01 0.11 0.02 0.06 0.05 0.05 - 0.01 0.14 0.04 0.07 0.06 0.06 - 0.01 0.08 0.13 0.12 0.13 - 0.01 0.19 0.12 0.04 0.03 0.04 unch 0.00 0.06 0.01 0.30 0.25 0.25 - 0.05 0.45 0.05 0.32 1.74 1.44 1.50 - 0.15 2.25 10.50 10.08 10.27 - 0.04 11.40 7.64 13.48 12.98 13.23 - 0.03 14.58 9.66 0.02 0.03 0.03 0.03 - 0.01 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00

2018-05-08 6:31 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / MAY 14–27, 2018

Week

12-month

Exc Volume High Low Last Change High Low

St-Georges Eco* O 21 St-Georges Eco 10200 Stakeholdr Gld* O 31 Stakeholdr Gld V 13 Standard Graph* O 859 Standard Lith V 748 Standard Metal* O 38 Stans Energy V 111 O 156 Stans Energy* Star Diamond T 4129 Star Diamond* O 40 Star Gold* O 0 Starcore Intl T 115 Steele Oceanic* O 0 Stellar Africa* O 1 Stellar Africa V 121 Stelmine Can * O 0 Stelmine Can V 140 Sterling Grp* O 36 Stina Res 7741 Stina Res* O 837 Stornoway Diam* O 9 Stornoway Diam T 694 Stratabd Mnr V 916 Strateco Res* O 8 Strategic Metl* O 40 Strategic Metl V 635 Strategic Res V 1 Strategic Res* O 0 Stria Lithium V 140 Strikepoint Gd V 611 Strikepoint Gd* O 68 Strongbow Expl V 305 Strongbow Expl* O 50 Stroud Res V 456 Sulliden Mng T 179 Suncor Energy T 13874 Suncor Energy* N 14486 Sunvest Mnrls* O 5 V 259 Sunvest Mnrls O 62 Superior Gold* Superior Gold V 470 Superior Mng V 39 Supreme Metals 623 Surge Copper * O 0 Surge Copper V 158 Surge Explor* O 4 Surge Explor V 15 Sutter Gold* O 957 Sutter Gold V 2531 Syrah Res* O 34

0.30 0.24 0.24 - 0.07 2.20 0.11 0.39 0.30 0.34 - 0.06 2.90 0.02 0.18 0.17 0.17 - 0.01 0.45 0.17 0.24 0.23 0.23 - 0.01 0.64 0.23 0.72 0.66 0.69 - 0.01 0.86 0.13 1.53 1.16 1.44 unch 0.00 2.85 0.80 0.17 0.14 0.15 - 0.03 0.19 0.02 0.04 0.03 0.03 - 0.01 0.05 0.03 0.03 0.02 0.02 - 0.01 0.04 0.02 0.22 0.19 0.19 - 0.01 0.44 0.15 0.16 0.14 0.16 - 0.00 0.33 0.12 0.00 0.00 0.07 unch 0.00 0.11 0.05 0.20 0.20 0.20 + 0.01 0.48 0.20 0.00 0.00 0.96 unch 0.00 3.49 0.96 0.04 0.04 0.04 - 0.00 0.05 0.03 0.05 0.05 0.05 unch 0.00 0.07 0.03 0.17 0.17 0.17 unch 0.00 0.22 0.18 0.20 + 0.02 0.45 0.14 0.04 0.00 0.03 - 0.01 0.10 0.03 0.74 0.64 0.66 - 0.06 0.76 0.10 0.58 0.50 0.52 - 0.06 0.60 0.08 0.44 0.44 0.44 + 0.00 0.66 0.41 0.58 0.55 0.56 unch 0.00 0.86 0.50 0.05 0.03 0.04 - 0.01 0.08 0.01 0.01 0.00 0.00 - 0.00 0.05 0.00 0.36 0.32 0.34 + 0.03 0.54 0.31 0.46 0.42 0.45 + 0.03 0.73 0.40 0.00 0.00 0.25 unch 0.00 0.25 0.10 0.00 0.00 0.14 unch 0.00 0.14 0.11 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.26 0.21 0.25 + 0.03 0.65 0.15 0.20 0.16 0.20 + 0.02 0.47 0.11 0.27 0.23 0.24 - 0.01 0.27 0.13 0.20 0.20 0.20 + 0.02 0.20 0.10 0.02 0.02 0.02 - 0.01 0.03 0.01 0.36 0.34 0.34 - 0.04 0.65 0.18 49.57 48.45 49.39 + 0.48 49.89 36.09 38.60 37.57 38.39 + 0.56 38.87 27.96 0.06 0.06 0.06 unch 0.00 0.18 0.06 0.08 0.08 0.08 unch 0.00 0.14 0.08 1.18 1.14 1.16 - 0.01 1.28 0.69 1.57 1.41 1.47 - 0.02 1.62 0.85 0.09 0.04 0.06 - 0.01 0.13 0.04 0.05 0.04 0.04 - 0.01 0.08 0.03 0.00 0.00 0.09 unch 0.00 0.21 0.09 0.13 0.10 0.12 + 0.01 0.26 0.09 0.36 0.00 0.35 - 0.01 0.36 0.09 0.45 0.39 0.39 + 0.20 0.23 0.03 0.02 0.02 0.02 + 0.01 0.04 0.01 0.03 0.02 0.02 unch 0.00 0.05 0.02 2.57 2.33 2.48 + 0.09 3.85 1.83

Tahoe Res* N 11691 Tahoe Res T 3425 Taiga Gold 343 Tajiri Res V 24 Taku Gold* O 59 Taku Gold 11 Talon Metals T 721 Tamerlane Vent* O 105 Tamino Mnrls* O 5 V 286 Tanager Energy Tango Mining V 1002 Tanqueray Expl V 1681 Tantalex Res 258 Tanzania Mnls V 19 Tanzania Rlty T 415 X 2756 Tanzania Rlty* Taranis Res* O 8 Taranis Res V 416 Tarku Res V 107 Tartisan Nick 535 Tasca Res V 335 Taseko Mines* X 3833 Taseko Mines T 1785 Teck Res T 8826 Teck Res T 12 Teck Res* N 13875 Telson Res * O 14 Telson Res V 167 Tembo Gold V 351 Tembo Gold* O 26 O 139 Teranga Gold* Teranga Gold T 1648 Teras Res V 315 Teras Res* O 165

5.38 4.90 5.01 - 0.06 9.68 3.76 6.90 6.30 6.45 + 0.05 12.98 4.75 0.21 0.13 0.13 - 0.02 0.21 0.13 0.15 0.15 0.15 unch 0.00 0.18 0.08 0.05 0.04 0.04 - 0.01 0.20 0.04 0.06 0.05 0.06 unch 0.00 0.25 0.05 0.09 0.07 0.08 unch 0.00 0.15 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.10 0.09 0.09 - 0.01 0.20 0.08 0.04 0.03 0.03 unch 0.00 0.06 0.03 1.11 0.85 0.91 + 0.06 1.41 0.33 0.16 0.13 0.14 - 0.02 0.25 0.03 0.20 0.00 0.20 unch 0.00 1.20 0.15 0.87 0.73 0.83 + 0.14 0.87 0.31 0.68 0.56 0.63 + 0.07 0.68 0.24 0.09 0.09 0.09 - 0.00 0.11 0.03 0.12 0.11 0.12 + 0.01 0.14 0.07 0.04 0.04 0.04 unch 0.00 0.07 0.03 0.12 0.09 0.11 + 0.01 0.16 0.08 0.08 0.07 0.07 - 0.01 0.62 0.05 1.21 1.05 1.12 - 0.08 2.46 1.02 1.55 1.35 1.40 - 0.11 2.98 1.40 33.47 31.77 33.26 + 1.39 38.89 19.27 33.40 31.64 33.30 + 1.28 38.90 20.00 26.04 24.65 25.85 + 1.24 30.80 14.56 0.65 0.53 0.62 + 0.09 0.74 0.19 0.83 0.69 0.80 + 0.11 1.00 0.28 0.03 0.03 0.03 + 0.01 0.05 0.01 0.03 0.01 0.03 unch 0.00 0.03 0.01 4.00 3.73 3.92 + 0.16 6.40 1.83 5.17 4.82 5.04 + 0.10 5.17 2.36 0.10 0.08 0.08 - 0.02 0.15 0.07 0.08 0.07 0.07 + 0.01 0.11 0.05

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Terraco Gold V 341 Terrax Mnrls* O 129 Terrax Mnrls V 192 Terreno Res V 600 Teslin Rvr Res V 386 Tesoro Mnrls V 340 Tesoro Mnrls* O 30 Tethyan Res V 64 Teuton Res* O 11 Teuton Res V 268 O 98 Texas Mineral* Theia Res V 111 Themac Res V 45 Thor Expl V 266 5 Thunder Mtn Gd V Thunder Mtn Gd* O 18 V 230 Thunderstruck Thunderstruck* O 12 Till Capital* D 1 Till Capital V 1 V 80 Timberline Res Timberline Res* O 120 Timmins Gold T 613 Timmins Gold* X 423 Tinka Res* O 167 Tinka Res V 622 Titan Mining T 440 Titanium Corp V 50 1 TMAC Resource* O TMAC Resources T 148 TNR Gold V 419 Toachi Mg Inc* O 3 Toachi Mg Inc V 406 Tolima Gold V 2047 TomaGold V 440 O 7282 Tombstone Expl* O 30 Tonogold Res* Torex Gold* O 26 Torex Gold T 1115 Toron, Inc* O 8451 Torq Resources* O 135 V 251 Torq Resources Tower Res* O 13 Tower Res V 703 Transatlan Mng* O 4 V 26 Transatlan Mng Transition Mtl V 168 T 874 Treasury Metal Treasury Metal* O 54 Trecora Res* N 200 Trek Mining V 1431 Trek Mining* O 587 Tres-Or Res V 407 Trevali Mng T 5264 Trevali Mng* O 299 Tri Origin Exp V 235 Trident Gold V 25 Trifecta Gold* O 48 Trifecta Gold V 61 Trigen Res* O 6 Trilogy Mtls T 38 Trilogy Mtls* X 396 TriMetals Mng* O 12 O 510 TriMetals Mng* TriMetals Mng T 622 Trinity Res* O 0 Trinity Valley V 271 TriStar Gold* O 57 TriStar Gold V 194 O 45 Triumph Gold* Triumph Gold V 217 Troilus Gold V 35 Troilus Gold* O 0 Troy Enrgy V 44 Troy Res* O 350 Troymet Expl V 336 True Grit Res V 1 True North Gem V 174 Trueclaim Expl V 134 Tsodilo Res V 2 Tudor Gold * O 6 Tudor Gold V 274 Tungsten Corp* O 14595 10513 Turquoise HIl* N Turquoise HIl T 4756 TVI Pacific V 3100 TVI Pacific* O 56 Tyhee Gold* O 200

0.09 0.08 0.09 unch 0.00 0.14 0.08 0.34 0.30 0.31 - 0.02 0.51 0.30 0.43 0.40 0.40 - 0.02 0.65 0.38 0.05 0.05 0.05 + 0.01 0.18 0.03 0.42 0.36 0.39 - 0.01 0.76 0.36 0.06 0.00 0.06 unch 0.00 0.12 0.06 0.05 0.05 0.05 unch 0.00 0.06 0.05 0.25 0.23 0.25 unch 0.00 0.57 0.18 0.14 0.14 0.14 unch 0.00 0.26 0.12 0.23 0.17 0.18 - 0.01 0.35 0.15 0.18 0.17 0.17 - 0.01 0.28 0.12 0.08 0.07 0.08 - 0.01 0.12 0.07 0.07 0.06 0.06 - 0.01 0.10 0.03 0.18 0.15 0.16 - 0.02 0.25 0.09 0.25 0.25 0.25 + 0.03 0.32 0.12 0.18 0.13 0.18 + 0.00 0.30 0.08 0.08 0.07 0.08 - 0.01 0.13 0.05 0.07 0.06 0.07 + 0.01 0.10 0.04 4.00 0.00 4.00 + 0.25 5.45 3.30 5.01 0.00 4.10 - 0.40 5.85 3.79 0.14 0.11 0.13 - 0.02 0.60 0.10 0.11 0.00 0.10 - 0.01 0.47 0.08 2.56 2.40 2.55 + 0.05 7.99 2.23 1.99 1.87 1.95 unch 0.00 6.06 1.70 0.37 0.35 0.35 - 0.03 0.75 0.34 0.49 0.45 0.46 - 0.01 0.87 0.45 1.50 1.25 1.29 + 0.04 1.65 0.92 0.90 0.80 0.89 + 0.05 1.50 0.70 5.90 0.00 5.90 + 0.19 12.51 5.45 7.67 7.32 7.42 - 0.24 16.90 6.90 0.05 0.04 0.05 + 0.01 0.09 0.03 0.11 0.11 0.11 + 0.00 0.35 0.10 0.14 0.12 0.13 - 0.01 0.50 0.12 0.02 0.01 0.01 unch 0.00 0.06 0.01 0.06 0.06 0.06 + 0.01 0.11 0.06 0.01 0.00 0.00 + 0.00 0.01 0.00 0.15 0.00 0.15 unch 0.00 0.40 0.03 10.32 9.78 9.97 - 0.18 19.75 5.73 13.50 12.46 12.85 - 0.55 26.23 7.29 0.01 0.01 0.01 - 0.00 0.02 0.00 0.49 0.43 0.49 + 0.05 1.10 0.35 0.62 0.56 0.62 + 0.05 0.90 0.43 0.09 0.09 0.09 - 0.00 0.24 0.08 0.14 0.13 0.14 unch 0.00 0.34 0.10 0.05 0.03 0.03 unch 0.00 0.08 0.03 0.04 0.04 0.04 unch 0.00 0.22 0.04 0.15 0.14 0.15 unch 0.00 0.21 0.12 0.47 0.43 0.43 - 0.03 0.77 0.43 0.37 0.33 0.33 - 0.03 0.65 0.30 13.40 12.20 12.25 - 1.05 14.40 10.25 1.10 1.05 1.06 - 0.04 1.39 0.88 0.86 0.82 0.84 - 0.02 1.11 0.69 0.04 0.04 0.04 unch 0.00 0.07 0.03 1.19 1.16 1.17 + 0.01 1.75 1.03 0.93 0.89 0.90 - 0.01 1.37 0.76 0.03 0.03 0.03 + 0.01 0.06 0.02 0.16 0.16 0.16 unch 0.00 0.22 0.14 0.10 0.08 0.10 + 0.01 0.20 0.06 0.12 0.00 0.11 unch 0.00 0.40 0.09 0.36 0.00 0.32 - 0.01 0.46 0.04 1.58 1.50 1.55 + 0.09 2.03 0.78 1.28 1.16 1.25 + 0.08 1.64 0.58 0.18 0.16 0.16 + 0.00 0.20 0.11 0.12 0.09 0.11 + 0.02 0.20 0.09 0.15 0.13 0.13 - 0.01 0.26 0.12 0.00 0.00 0.01 unch 0.00 0.10 0.01 0.10 0.09 0.10 + 0.02 0.18 0.08 0.18 0.16 0.16 - 0.01 0.32 0.13 0.23 0.20 0.20 - 0.03 0.41 0.18 0.29 0.26 0.29 + 0.00 0.46 0.20 0.37 0.34 0.35 unch 0.00 0.57 0.25 1.68 1.65 1.68 + 0.03 2.25 0.29 0.00 0.00 1.14 unch 0.00 1.59 1.02 0.06 0.05 0.05 - 0.01 0.15 0.03 0.12 0.11 0.11 - 0.00 0.13 0.05 0.02 0.01 0.02 + 0.01 0.03 0.01 0.05 0.05 0.05 unch 0.00 0.07 0.03 0.01 0.01 0.01 - 0.01 0.02 0.01 0.16 0.13 0.16 + 0.03 0.30 0.07 0.63 0.00 0.63 unch 0.00 0.94 0.52 0.33 0.31 0.31 - 0.02 0.71 0.31 0.42 0.39 0.40 + 0.01 0.94 0.37 0.00 0.00 0.00 - 0.00 0.00 0.00 3.03 2.92 2.95 - 0.05 3.59 2.44 3.90 3.76 3.79 - 0.08 4.52 3.25 0.02 0.01 0.01 unch 0.00 0.02 0.01 0.01 0.01 0.01 + 0.01 0.02 0.00 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

Typhoon Expl V 90 0.08 0.07 0.07 - 0.01 0.12 0.04

U-V U.S. Lithium* O 1034 U3O8 Corp* O 59 U3O8 Corp T 103 UC Res* O 6 Ucore Rare Mtl V 160 Ucore Rare Mtl* O 263 UEX Corp T 4404 Ultra Lithium* O 9 Ultra Lithium V 30 Umbral Enrgy* O 39 Unigold* O 31 Unigold V 86 United Lithium 3 United Res Hdg* O 79 United Silver* O 259 United States A* X 171 United States S* N 69632 Unity Energy V 19 Universal Vent V 267 Upper Canyon V 14 Ur-Energy* X 2631 Ur-Energy T 313 Uracan Res V 189 Uracan Res* O 19 Uragold Bay Rs V 508 Uranium Energy* X 5489 Uranium Hunter* O 1 Uranium Res* D 1416 Uravan Mnrls V 209 URZ Energy V 17 URZ Energy* O 21 V 552 US Cobalt US Cobalt * O 205 US Energy* D 176 US Precious M* O 649 USCorp* O 46 Vale* N 85450 O 0 Valencia Vent* ValGold Res V 373 Valley High Mg* O 1386 Valterra Res V 1964 Valterra Res* O 34 V 351 Vanadium One Vanadiumcorp V 426 Vanadiumcorp* O 103 Vangold Res V 1140 Vangold Res* O 3 Vanstar Mng Rs V 202 1 Vantex Res * O Vantex Res V 57 Vatic Vent V 2256 Vatic Vent* O 818 Vedanta* N 2392 Velocity Mnrls V 331 Vendetta Mng V 1090 Vendetta Mng* O 578 Venerable Vent V 1 O 50 Venture Mnrls* Verde Potash T 128 Verde Res* O 252 Veris Gold* O 2 Victoria Gold V 1985 Victory Nickel 38 Victory Nickel* O 8 Victory Res V 10 Victory Vent V 1026 Victory Vent* O 40 Virginia Enrgy V 37 Virginia Enrgy* O 26 Viscount Mng V 155 Visible Gold M V 103 Vision Lithium* O 19 Vision Lithium V 103 Vista Gold T 168 Vista Gold* X 669 Viva Gold V 42 Volcanic Gold V 532 Volt Energy* O 0 Volt Energy V 48 Voltaic Min V 133 O 25 Voyageur Min* Voyageur Min V 23 VR Resources* O 100 VR Resources V 172

0.03 0.02 0.02 - 0.00 0.06 0.02 0.28 0.26 0.27 + 0.01 0.49 0.18 0.37 0.00 0.35 + 0.02 0.70 0.21 0.20 0.00 0.00 unch 0.00 0.20 0.00 0.23 0.21 0.23 + 0.01 0.32 0.18 0.18 0.16 0.18 + 0.01 0.26 0.14 0.32 0.27 0.28 - 0.01 0.41 0.15 0.16 0.15 0.16 + 0.01 0.63 0.11 0.23 0.21 0.22 unch 0.00 0.80 0.14 0.27 0.23 0.23 - 0.04 0.64 0.03 0.14 0.12 0.13 - 0.01 0.24 0.12 0.18 0.15 0.15 - 0.03 0.33 0.15 0.55 0.55 0.55 unch 0.00 0.56 0.40 0.03 0.03 0.03 unch 0.00 0.07 0.00 0.00 0.00 0.00 - 0.00 0.01 0.00 0.25 0.24 0.24 - 0.01 0.47 0.20 34.77 31.37 34.52 + 2.15 47.64 18.55 0.19 0.18 0.18 - 0.01 0.23 0.10 0.44 0.40 0.43 + 0.03 0.50 0.31 0.27 0.00 0.25 unch 0.00 0.34 0.03 0.77 0.70 0.72 - 0.01 0.79 0.50 0.98 0.92 0.92 - 0.01 0.98 0.62 0.03 0.02 0.02 - 0.01 0.05 0.02 0.01 0.01 0.01 - 0.00 0.09 0.01 0.10 0.10 0.10 - 0.01 0.17 0.08 1.70 1.48 1.64 + 0.12 2.00 0.96 0.50 0.50 0.50 unch 0.00 3.00 0.50 0.56 0.42 0.47 - 0.05 1.77 0.50 0.05 0.04 0.04 - 0.01 0.09 0.04 0.45 0.00 0.40 - 0.07 0.79 0.20 0.34 0.31 0.31 - 0.06 0.51 0.24 0.96 0.91 0.93 - 0.01 1.34 0.45 0.75 0.70 0.74 + 0.01 1.04 0.36 1.26 1.08 1.21 + 0.06 1.96 0.60 0.00 0.00 0.00 + 0.00 0.01 0.00 0.02 0.01 0.01 - 0.01 0.02 0.00 14.17 13.40 14.08 + 0.13 14.67 7.47 0.00 0.00 0.15 unch 0.00 0.15 0.15 0.09 0.08 0.08 unch 0.00 0.09 0.03 0.01 0.00 0.01 + 0.00 0.04 0.00 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.03 0.02 0.03 unch 0.00 0.05 0.01 0.07 0.07 0.07 unch 0.00 0.17 0.04 0.11 0.09 0.10 + 0.01 0.18 0.07 0.09 0.07 0.08 + 0.01 0.14 0.04 0.10 0.06 0.08 - 0.01 0.25 0.06 0.07 0.00 0.07 - 0.02 1.38 0.05 0.08 0.07 0.08 unch 0.00 0.12 0.06 0.06 0.06 0.06 unch 0.00 0.11 0.04 0.07 0.06 0.06 + 0.01 0.17 0.05 0.09 0.07 0.07 - 0.01 0.09 0.04 0.14 0.05 0.05 - 0.01 0.14 0.05 17.92 16.86 17.01 - 0.63 21.99 13.78 0.18 0.00 0.18 + 0.01 0.47 0.15 0.21 0.20 0.21 + 0.01 0.35 0.19 0.17 0.15 0.17 + 0.01 0.27 0.14 0.00 0.00 0.10 unch 0.00 0.18 0.09 0.03 0.03 0.03 unch 0.00 0.04 0.02 0.84 0.71 0.73 - 0.03 1.77 0.39 0.01 0.01 0.01 unch 0.00 0.20 0.01 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.38 0.33 0.37 + 0.03 0.71 0.31 0.07 0.06 0.07 + 0.02 0.07 0.03 0.05 0.00 0.04 - 0.01 0.05 0.00 0.38 0.38 0.38 unch 0.00 0.65 0.13 0.20 0.17 0.19 + 0.01 0.36 0.06 0.15 0.13 0.15 - 0.01 0.24 0.06 0.18 0.15 0.17 + 0.02 0.23 0.07 0.13 0.00 0.13 + 0.00 0.15 0.04 0.31 0.29 0.31 + 0.01 0.40 0.22 0.10 0.09 0.09 - 0.01 0.25 0.09 0.37 0.00 0.37 - 0.01 0.62 0.34 0.50 0.44 0.44 - 0.07 0.79 0.18 0.99 0.91 0.93 - 0.01 1.34 0.77 0.78 0.71 0.73 + 0.00 1.00 0.60 0.28 0.24 0.28 unch 0.00 0.69 0.21 0.18 0.14 0.14 - 0.03 0.62 0.14 0.14 0.14 0.14 unch 0.00 0.14 0.14 0.23 0.23 0.23 unch 0.00 0.96 0.20 0.30 0.00 0.28 - 0.01 1.05 0.18 0.05 0.05 0.05 unch 0.00 0.08 0.05 0.08 0.07 0.07 - 0.01 0.15 0.04 0.30 0.27 0.27 - 0.03 0.32 0.21 0.39 0.35 0.35 - 0.03 0.41 0.21

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Vulcan Mnrls V 158 0.07 0.06 0.07 + 0.01 0.08 0.04 0.02 VVC Expl V 544 0.03 0.03 0.03 - 0.01 0.07

W-Z Walker Lane* O 38 Walker River V 691 T 1835 Wallbridge Mng War Eagle Mg V 59 Waseco Res V 277 Wealth Mnrls V 1108 Wealth Mnrls* O 491 Wescan Gldflds* O 4 Wescan Gldflds V 3 Wesdome Gold* O 355 Wesdome Gold T 1293 West Af Res V 1067 West High Yld V 90 West Kirkland * O 49 West Kirkland V 212 West Red Lake 582 West Red Lake* O 25 Westcot Vent V 60 Western Areas* O 5 T 80 Western Copper Western Copper* X 305 Western Pac Rs V 15 Western Pac Rs* O 69 Western Potash T 165 Western Res* O 11 Western Troy C V 53 Western Uran 206 O 362 Western Uran* Westhaven Vent V 286 Westhaven Vent* O 43 O 65 Westkam Gold* Westkam Gold V 588 Westminster Rs V 97 O 8 Westminster Rs* Westmoreland* O 3189 WestMountain* O 0 O 0 White Energy* White Gold* O 7 White Gold V 217 White Metal R* O 500 White Metal Rs V 153 White Mtn Engy* O 6 O 0 Whitehaven Coa* Whitemud Res V 94 Winston Gold 444 O 211 Winston Gold* Wolfden Res* O 523 Wolfden Res V 1272 Wolfeye Res V 170 Wolverine Mnls* O 0 Wolverine Mnls V 4 V 1 Worldwide Res WPC Res V 162 X-Terra Res V 409 Xander Res V 257 Xiana Mng V 18 Xiana Mng* O 12 Ximen Mng* O 43 Ximen Mng V 49 XLI Tech Inc* O 121 V 622 Xtierra Xtra-Gold Res* O 23 Xtra-Gold Res T 193 14110 Yamana Gold T Yamana Gold* N 73025 Yellowhead Mng* O 1 V 3 Yellowhead Mng Yorbeau Res T 105 0 You Han Data* O Zadar Vent * O 18 Zadar Vent V 700 Zara Res 149 Zena Mng V 5 Zenyatta Vent* O 30 Zenyatta Vent V 138 Zephyr Mnls* O 16 Zephyr Mnls V 77 Zimtu Capital V 23 Zinc One Res V 1423 Zinc One Res * O 213 Zincore Mtls V 10 Zonte Mtls V 62

0.17 0.17 0.17 unch 0.00 0.20 0.10 0.08 0.07 0.07 - 0.01 0.16 0.05 0.07 0.06 0.07 unch 0.00 0.15 0.06 0.17 0.15 0.16 + 0.01 0.22 0.04 0.05 0.05 0.05 unch 0.00 0.08 0.04 1.25 1.12 1.17 - 0.07 2.34 1.16 1.00 0.87 0.92 - 0.07 1.85 0.92 0.07 0.07 0.07 unch 0.00 0.10 0.04 0.08 0.00 0.08 + 0.02 0.12 0.05 1.53 1.45 1.48 - 0.00 2.69 0.00 1.97 1.86 1.88 - 0.03 3.65 1.64 0.41 0.29 0.38 + 0.03 0.50 0.23 0.41 0.37 0.37 - 0.03 3.80 0.24 0.06 0.05 0.05 - 0.00 0.07 0.04 0.07 0.06 0.06 - 0.01 0.09 0.06 0.11 0.08 0.08 - 0.03 0.23 0.08 0.08 0.07 0.08 - 0.01 0.20 0.06 0.70 0.62 0.70 + 0.06 1.09 0.04 2.63 2.53 2.63 - 0.12 2.82 1.57 1.06 1.00 1.03 - 0.03 1.76 0.92 0.84 0.78 0.79 - 0.03 1.44 0.71 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.02 0.01 0.01 - 0.00 0.03 0.01 0.44 0.00 0.41 - 0.03 0.67 0.37 0.32 0.31 0.31 - 0.01 0.47 0.29 0.03 0.02 0.02 - 0.01 0.06 0.02 0.75 0.63 0.66 - 0.09 1.82 0.54 0.57 0.49 0.51 - 0.08 1.35 0.44 0.17 0.15 0.17 + 0.02 0.17 0.08 0.13 0.12 0.13 + 0.00 0.13 0.06 0.03 0.02 0.02 + 0.01 0.04 0.01 0.03 0.03 0.03 unch 0.00 0.05 0.01 0.15 0.13 0.15 + 0.01 0.38 0.13 0.10 0.10 0.10 unch 0.00 0.28 0.10 0.18 0.08 0.14 + 0.06 10.23 0.07 0.00 0.00 3.30 unch 0.00 12.00 1.15 0.11 0.11 0.11 unch 0.00 0.30 0.11 0.56 0.53 0.56 - 0.06 0.73 0.53 0.70 0.61 0.61 - 0.08 2.34 0.65 0.06 0.06 0.06 unch 0.00 0.17 0.05 0.09 0.08 0.09 + 0.01 0.24 0.03 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.00 0.00 3.60 unch 0.00 3.95 1.83 0.02 0.02 0.02 - 0.01 0.05 0.01 0.08 0.06 0.07 + 0.01 0.09 0.03 0.06 0.06 0.06 - 0.00 0.07 0.02 0.26 0.20 0.22 - 0.03 0.56 0.10 0.34 0.26 0.28 - 0.06 0.68 0.13 1.27 1.14 1.27 + 0.04 1.64 0.49 0.06 0.06 0.06 unch 0.00 0.12 0.06 0.00 0.00 0.09 unch 0.00 0.17 0.05 0.00 0.00 0.03 unch 0.00 0.09 0.01 0.04 0.04 0.04 - 0.01 0.07 0.04 0.15 0.13 0.15 + 0.01 0.39 0.13 0.17 0.00 0.17 + 0.01 0.42 0.15 0.64 0.58 0.62 + 0.09 0.66 0.08 0.51 0.41 0.48 + 0.08 0.55 0.06 0.19 0.17 0.17 - 0.02 0.44 0.11 0.22 0.21 0.22 + 0.01 0.30 0.13 0.01 0.01 0.01 - 0.00 0.03 0.00 0.05 0.05 0.05 - 0.01 0.08 0.02 0.19 0.17 0.17 - 0.02 0.27 0.11 0.27 0.24 0.25 - 0.01 0.36 0.17 3.95 3.58 3.78 - 0.11 4.69 2.84 3.07 2.77 2.93 - 0.08 3.80 2.21 0.17 0.17 0.17 unch 0.00 0.50 0.17 0.31 0.30 0.30 - 0.05 0.96 0.30 0.04 0.04 0.04 unch 0.00 0.10 0.04 0.00 0.00 1.10 unch 0.00 2.00 1.00 0.00 0.00 0.04 unch 0.00 0.08 0.04 0.05 0.04 0.05 unch 0.00 0.13 0.04 0.22 0.11 0.21 + 0.11 0.24 0.08 0.12 0.09 0.09 - 0.03 0.18 0.07 0.43 0.00 0.43 + 0.01 0.93 0.34 0.56 0.52 0.55 + 0.03 1.29 0.42 0.21 0.19 0.20 - 0.01 0.28 0.15 0.28 0.24 0.25 - 0.03 0.36 0.18 0.35 0.34 0.34 - 0.01 0.40 0.20 0.27 0.24 0.25 - 0.01 0.73 0.20 0.20 0.18 0.19 - 0.02 0.55 0.15 0.06 0.06 0.06 unch 0.00 0.35 0.05 0.21 0.00 0.21 unch 0.00 0.48 0.12

BID-ASK — APRIL 30–MAY 4, 2018 African Metals Aguia Resource Alba Minerals Alderon Iron* Aldridge Min Alopex Gold ALQ Gold Altan Rio Mnls Amador Gold Amanta Res Anglo Pac Grp Arch Coal* Archon Mineral Arcturus Vent Argentum Silvr Arian Res Asbestos Corp AsiaBaseMetals Astur Gold Atlatsa Res* Aurelius Min Banro Corp* Bayswater Uran Bell Copper Bethpage Cap BHK Mining Bird River Res Black Bull Res Bold Vent Boss Power Bullion Gld Res Bullman Mnls Cairo Res Canada Coal Canadian Mng Canex Energy Canoe Mng Vent Canstar Res Cassius Vents Centurion Mnls Century Global Cliffs Nat Res* Clydesdale Res CMX Gold & Sil CNRP Mng Comet Inds Condor Gold CR Capital Cresval Cap Crystal Explor Curlew Lke Res Cyprium Mng Dawson Gold Desert Gold Discovery Harb Eastfield Res Empire Rock Eureka Res European Metal Eurotin EVI Global Grp Excalibur Res Fieldex Expl Finore Mng Fire River Gol

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

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0.06 0.09 0.06 0.17 0.24 0.24 0.50 0.15 0.16 0.16 0.28 ... 0.40 0.14 0.52 0.06 0.07 0.07 0.23 0.46 0.48 0.48 0.71 0.25 0.29 0.22 0.45 0.01 0.02 0.01 0.02 0.17 0.19 0.19 0.39 0.01 0.02 0.01 2.20 2.70 2.20 3.18 ... ... 0.58 1.09 1.30 1.30 1.68 0.11 0.16 0.11 0.20 0.20 0.21 0.21 0.35 0.01 0.02 0.01 0.65 0.85 0.70 0.90 0.25 0.28 0.25 0.40 0.06 0.08 0.08 0.10 ... ... 0.06 0.45 0.13 0.14 0.14 0.15 0.11 0.11 0.11 2.10 0.02 0.04 0.03 0.06 0.17 0.20 0.20 0.22 0.03 0.10 0.10 0.14 0.02 0.02 0.02 0.03 0.22 0.23 0.23 0.63 0.10 0.18 0.10 0.14 0.03 0.04 0.04 0.06 0.17 0.20 0.17 0.34 0.40 0.40 0.47 0.06 0.10 0.06 0.10 0.36 0.60 0.36 0.43 0.08 0.11 0.11 0.12 0.31 0.33 0.33 0.79 0.27 0.30 0.31 0.42 0.14 0.16 0.14 0.25 0.06 0.07 0.06 0.13 0.03 0.06 0.04 0.07 0.03 0.03 0.03 0.07 0.19 0.20 0.19 0.29 1.45 3.20 1.43 7.17 0.06 0.12 0.07 0.15 0.05 0.09 0.05 0.12 0.71 0.76 0.76 0.83 2.50 3.05 3.10 3.20 0.75 0.88 0.85 1.75 0.10 0.13 0.10 0.15 0.04 0.05 0.05 0.06 0.08 0.08 0.08 0.13 1.25 1.38 1.38 1.49 0.03 0.03 0.03 0.15 0.34 0.30 0.19 0.25 0.19 0.31 0.06 0.07 0.06 0.10 0.04 0.04 0.04 0.05 0.18 0.21 0.18 0.30 0.03 0.03 0.03 0.09 ... 0.01 0.01 0.07 0.08 0.08 0.10 0.29 0.29 0.29 0.43 0.09 0.10 0.10 0.11 0.18 0.19 0.19 0.21 0.12 0.12 0.11 0.31 0.03 0.07 0.09

0.24 0.04 0.12 0.05 0.41 0.05 0.01 0.13 1.31 0.81 0.07 0.17 0.20 0.19 0.01 0.06 0.03 0.10 0.02 0.03 0.08 0.02 0.07 0.06 0.03 0.08 0.06 0.21 0.04 0.10 0.18 0.04 0.04 0.03 0.03 0.13 0.98 0.04 0.04 0.18 2.50 0.47 0.07 0.04 0.05 0.36 0.14 0.05 0.03 0.16 0.02 0.04 0.02 0.01 0.12 0.17

First Idaho V First Legacy V Four Nines C Freeport Res V Full Metal Mnl V Gem Intl Res V Genius Props C Gentor Res V GFM Res V Global Cobalt V Global Cop Grp V God’s Lake Res C Goldbelt Emp V Golden Harp V GoldTrain Res C Great Lakes Gr V Greatbanks Res V Greenshield Ex V Grosvenor Res V Guerrero Vents V Halio Energy V HFX Holding V Highbury Proj V Highvista Gold V Homeland Egy V Icon Explor V Infinite Lith V Inform Res V Intl Battery C V Intl Bethl Mng Iron South Mng V Jasper Mng V Jazz Res V Jubilee Gold V V Kenna Res Lamelee Iron V Le Mare Gold V Lead Ventures C Leo Res C V Lithion Energy Logan Res V Madeira Mrnls V MAG Silver* X Malbex Res V Manado Gold V V Martina Mnls Matachewan Con V Match Capital V Mega Copper V Metalore Res V V Micrex Dev Midasco Cap V Midnight Star C MillenMin Vent V Millstream Min V Milner Con Slv V Minecorp Egy V Moag Copper C Montana Gold C Mukuba Res V MX Gold V Navy Res V Nebu Res V New Dimen Res V New Klondike V

0.06 0.25 0.04 0.06 0.18 0.20 0.20 0.25 0.10 0.16 0.10 0.16 0.06 0.07 0.07 0.08 0.10 0.14 0.10 0.15 0.01 0.02 0.02 0.06 0.15 0.16 0.16 0.25 0.04 0.14 0.08 0.20 0.08 0.10 0.10 0.10 0.02 0.02 0.02 0.07 0.08 0.08 0.11 0.22 ... 0.35 0.35 0.02 0.03 0.02 0.04 0.07 0.11 0.11 0.15 0.08 0.37 0.08 0.19 0.05 0.05 0.05 0.09 0.03 0.05 0.03 0.11 0.15 0.15 0.15 0.17 0.20 0.17 0.21 0.01 0.02 0.02 0.03 0.15 0.18 0.18 0.91 0.05 0.15 0.07 0.12 0.22 0.88 0.25 0.35 ... 0.16 0.17 0.29 0.34 0.29 0.39 0.46 0.46 0.41 0.84 0.26 0.29 0.28 0.32 0.18 0.34 0.20 0.39 ... ... 0.31 0.40 0.09 0.09 0.09 0.17 0.24 0.27 0.24 0.28 0.10 0.10 0.10 0.18 0.07 0.10 0.06 0.09 0.32 0.50 0.40 0.73 0.13 0.16 0.15 0.42 0.48 0.48 0.48 0.17 0.17 0.17 3.50 0.14 0.28 0.14 0.60 1.06 1.09 1.09 1.32 ... ... 0.10 0.06 0.06 0.06 0.10 0.04 0.14 0.04 0.05 12.52 13.30 12.52 14.40 0.38 0.40 0.39 0.40 0.06 0.06 0.06 0.24 0.04 0.06 0.04 0.07 0.24 0.28 0.29 0.34 0.01 0.04 0.04 0.17 0.26 0.17 0.17 1.75 2.50 2.00 4.45 0.02 0.02 0.01 0.03 0.08 0.13 0.08 0.11 0.20 ... 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 ... ... 0.08 0.09 0.10 0.10 0.10 0.23 0.23 0.23 0.25 0.11 0.11 0.11 0.22 0.21 0.40 0.24 0.32 0.04 0.04 0.04 0.05 0.06 0.06 0.06 0.28 0.01 0.01 0.01

0.02 0.16 0.08 0.03 0.08 0.01 0.12 0.07 0.01 0.04 0.04 0.01 0.01 0.06 0.03 0.05 0.16 0.01 0.15 0.04 0.22 0.18 0.03 0.12 0.07 0.22 0.03 0.04 0.06 0.06 0.35 0.15 0.17 0.06 0.60 0.04 0.02 6.12 0.30 0.05 0.03 0.21 0.16 2.00 0.01 0.05 0.08 0.04 0.07 0.02 0.06 0.08 0.16 0.04 0.09

Noble Metal Gr Norsemont Cap North Am Ptash Northern Uran NQ Explor NSGold Oriental Non F Orofino Mnrls Pac Arc Res Pac Cascade Pac Imperial Pac Topaz Paget Mrnls Parana Copper Patriot Gold Phoenix Gold Prime Meridian Q-Gold Res Quadro Res Quantum Cobalt Quartz Mtn Res Randsburg Intl Rare Element* Red Tiger Mng Rhyolite Res Riley Resource River Wild Exp Rockland Mnls Rockwealth Res Rojo Res Romulus Res Royal Sapphire Rubicon Mnrls* Sandy Lake Gld Scavo Res Sennen Potash SGX Res Silver Grail Silver Mtn Mns Starr Peak Exp Stockport Expl Stone Ridge Ex Tajiri Res Talmora Diamd Tearlach Res Tiger Intl Tiller Res Tintina Mines Tri-River Vent Trident Gold True Grit Res UC Res United Lithium Vale* Valencia Vent Vanadium One Vela Minerals Venerable Vent Wabi Explor Westridge Res Whistler Gold Winston Res Wolverine Mnls Zinco Mng Zincore Mtls

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

0.02 0.02 0.02 0.04 0.38 0.45 0.40 0.47 0.05 0.08 0.04 0.01 0.02 0.02 0.03 0.01 0.01 0.01 0.02 0.10 0.11 0.11 0.15 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 0.05 0.06 0.05 0.07 0.12 0.15 0.13 0.18 0.03 0.07 0.03 0.08 0.35 0.45 0.35 0.36 0.10 ... 0.10 0.15 ... 0.01 0.01 0.12 0.15 0.14 0.11 0.13 0.11 0.30 0.06 0.08 0.06 0.18 ... ... 1.10 3.15 0.80 0.90 0.90 1.50 0.01 0.02 0.01 0.02 0.11 0.16 0.15 0.89 0.02 0.03 0.03 0.03 0.20 0.29 0.20 0.40 0.12 0.50 0.11 0.16 0.20 0.55 0.20 0.22 0.07 0.08 0.08 0.11 0.20 0.22 0.22 0.30 0.40 0.49 0.40 0.50 0.15 0.23 0.19 0.20 0.16 0.22 0.20 1.40 ... ... 0.03 1.35 0.06 0.07 0.07 0.11 0.36 0.57 0.36 0.54 0.38 0.79 0.38 1.00 0.02 0.02 0.02 0.06 0.07 0.06 0.13 0.02 0.02 0.02 0.04 0.13 0.15 0.13 0.19 0.02 0.03 0.03 0.03 0.30 0.33 0.30 0.60 0.12 0.15 0.15 0.18 0.02 0.05 0.05 0.05 0.08 0.15 0.08 0.09 0.18 0.09 0.15 0.37 0.44 0.37 0.65 0.06 0.10 0.08 0.09 0.04 0.12 0.04 0.16 0.19 0.16 0.22 0.05 0.06 0.05 0.07 0.01 0.02 0.02 0.03 0.55 ... 0.55 0.56 ... ... 10.24 11.10 0.21 0.22 0.22 0.30 0.13 0.15 0.13 0.22 0.30 0.30 0.54 0.10 0.13 0.10 0.18 0.08 0.09 0.09 0.09 0.59 0.59 0.60 0.80 0.08 0.15 0.08 0.08 0.56 0.58 0.56 0.74 0.09 0.10 0.09 0.17 0.05 0.07 0.05 0.06 0.10 0.06 0.35

0.01 0.31 0.01 0.01 0.02 0.72 0.06 0.09 0.01 0.10 0.03 0.09 0.09 0.10 0.04 0.20 0.55 0.01 0.06 0.03 0.17 0.11 0.02 0.01 0.15 0.23 0.13 0.06 0.03 0.04 0.26 0.30 0.05 0.02 0.09 0.02 0.06 0.08 0.01 0.08 0.19 0.04 0.14 0.03 0.01 0.40 6.57 0.13 0.18 0.09 0.05 0.29 0.03 0.55 0.05 0.05

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