The Northern Miner May 27 2019 Issue 11

BOLIVIA: MINES MINISTER SEEKS TO PARTNER WITH MORE MINING COMPANIES / 5 Geotech_Earlug_2016_Alt2.pdf 1 2016-06-24 4:27:20 PM

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Lumina Gold advances Cangrejos, Gran Bestia ECUADOR

| Ross Beatybacked junior hopes to connect gold-copper deposits

BY TRISH SAYWELL tsaywell@northernminer.com

Atlantic Gold’s Touquoy gold mine, part of its Moose River Consolidated gold project in Nova Scotia. ATLANTIC GOLD

St Barbara to acquire Atlantic Gold for $802M M&A

BY TRISH SAYWELL tsaywell@northernminer.com

A

ustralian gold producer St Barbara (ASX: SBM) is acquiring 100% of Canadian gold producer Atlantic Gold

| Friendly deal offers shareholders a hefty premium (TSXV: AGB) in a deal valued at $802 million.

St Barbara’s offer represents a 41.1% premium to Atlantic’s closing share price on May 14 and a 40.8% premium to the company’s 30-day, volume-weighted average

price.

The offer consists of $2.90 per share in cash plus a spin-out company that will hold Atlantic’s interest in Velocity Minerals (TSXV: VLC), valued at 5¢ per share, for a total consideration of $2.95 per

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share. Velocity is advancing its Rozino gold project in Bulgaria.

The $2.90 per share cash consideration implies a $722-million total equity value for Atlantic and $802-million enterprise value.

In a brief conference call, Atlantic’s chairman and CEO Steven Dean said the deal is a “great transaction for all Atlantic shareholders,” and particularly so for those who had been with the company from the start, for whom it “represented a very substantial return to their initial investment.”

“I understand that the questions are short because it’s not too difficult to explain $2.90 in cash,” he said, when only a few queries were posed during the question-and-answer session of the call. “Cash is cash, and that’s a relatively rare thing in our mining space these days, and we’re very proud to have been able to deliver that to shareholders.”

The deal is another sign of what appears to be a growing appetite in Australia for North American assets. In March, Newcrest Mining (ASX: NCM) acquired a 70% stake in Imperial Metals’ (TSX: III) Red Chris copper-gold mine in northwestern British Columbia.

Atlantic put the first phase of its Moose River Consolidated (MRC)

L

umina Gold (TSXV: LUM) is on track to complete a first-ever resource estimate on its Gran Bestia gold-copper deposit and an updated resource on its Cangrejos gold-copper deposit before year-end.

The two deposits in Ecuador are a kilometre apart and 40 km from the deepwater commercial port of Bolivar.

The junior, in which geologist and serial mine finder Ross Beaty owns a 17.2% stake, has already defined an inferred resource at Cangrejos, with 8.5 million oz. gold and 1 billion contained lb. copper within 408 See LUMINA GOLD / 2 PM40069240

See ATLANTIC GOLD / 6

MARATHON GOLD: GETS RESULTS IN NEWFOUNDLAND / 7

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MAY 27–JUNE 9, 2019 / THE NORTHERN MINER

Workers handle core at a drill site at Lumina Gold’s Cangrejos gold-copper project in Ecuador. LUMINA GOLD

The Cangrejos camp in southwest Ecuador. LUMINA GOLD

Lumina Gold advances Cangrejos, Gran Bestia LUMINA GOLD From 1

million tonnes grading 0.65 gram gold per tonne and 0.11% copper.

The company’s goal is to upgrade the inferred material to indicated and include expansion drilling.

Gran Bestia, which Lumina confirmed earlier this year can be a satellite deposit, could add to Cangrejos’ 16-year mine life.

In April, Lumina reported the longest continuous mineralized intersection at Gran Bestia, with drill hole 105 returning 0.62 gram gold and 0.11% copper over 626 metres from surface and ending in mineralization. The hole includes an 86-metre intercept of 1.14 grams gold and 0.13% copper from 224 metres downhole, and 86 metres of 0.93 gram gold and 0.18% copper from 510 metres downhole.

Under the Newmont Mining banner, Newmont Goldcorp (TSX: NGT; NYSE: NEM) had drilled five holes into the area in 1999, but the grades didn’t work at a US$300 per oz. gold price, and it had walked away. “We had the Newmont holes, but we didn’t know if there was a potential resource there,” says Leo Hathaway, a geologist, and Lumina’s senior vice-president. “We were

“MAYBE THOSE TWO DEPOSITS CONNECT, EITHER AT SURFACE OR AT DEPTH, AND THAT’S WHAT WE’RE GOING TO TEST AT DEPTH.” LEO HATHAWAY SENIOR VP, LUMINA GOLD

intrigued.”

But the company focused on Cangrejos, because it didn’t have the surface rights to Gran Bestia until late last year.

“We only recently got to Gran Bestia to step out on those holes, and the step outs were pretty exciting,” Hathaway says. “Some of the grades are higher than the average at Cangrejos and are near-surface, so we’re excited about Gran Bestia because it’s new and growing, and it shows signs it might be higher grade.”

What’s more, Hathaway and his team believe there could be a connection between the two deposits in the valley that separates them, and which it has currently designated as drainage on its maps.

“Maybe those two deposits connect, either at surface or at depth, and that’s what we’re going to test

at depth,” Hathaway says.

While surface geochemistry of the area has not highlighted anything of economic interest, road-building crews came across high-grade breccia at surface, with grades of 10 grams gold per tonne, 4.8 grams gold and 2.3 grams gold.

There is one drill testing the gap.

This year Lumina plans to drill 6,000 metres in 16 holes at Cangrejos and another 11,500 metres in 22 holes at Gran Bestia. The drill program may be expanded if more drilling is warranted in the gap.

“We’re looking to finish the metres we’ve announced by the end of June or early July, unless the zones connect, in which case we would add more metres, which would be a happy problem,” says Scott Hicks, vice-president of corporate development and communications. “We’re hoping to get the resource updates

A core sample from Cangrejos. LUMINA GOLD

out as early as the third quarter, but if there’s more drilling that will be pushed back a bit.”

Hicks notes that the $20 million financing Lumina wrapped up in November 2018 should fund the company’s work program until at least year-end, or early 2020.

The project is at a relatively low elevation by Andean standards (1,350 metres above sea level) and close to existing infrastructure, including the Pan-American Highway.

It is 30 km southeast of the pro-

vincial capital of Machala in El Oro province.

Hicks says there are no Indigenous Peoples on the property, and the nearest community is 7 km away.

Changes to Ecuador’s fiscal and regulatory regime have also made it a more appealing place for mining companies, he says.

Last year the government eliminated a 70% windfall tax and lowered the net smelter return royalty (NSR) range from 5–8% to a range of 3–8%.

Lumina completed its PEA in June 2018 using a 5% NSR, and Hicks says there is potential for negotiation. “There’s a possibility of getting the 3%, and that would add US$80 million to the NPV,” he says. Its PEA assigned an after-tax NPV of US$920 million and a 15% after-tax internal rate of return.

“On a macro level, in Quito, the ministries and government are very supportive of the [mining] activity country-wide, and they’re doing everything they can,” Hicks continues.

Over the last year Lumina’s shares have traded in a range of 46¢ and 82¢ per share, and at press time were trading at 56¢.

The company has 310 million shares outstanding for a $173-million market capitalization. Management and insiders own 27.5% of the company, including Beaty’s 17.2% interest. TNM

“ON A MACRO LEVEL, IN QUITO, THE MINISTRIES AND GOVERNMENT ARE VERY SUPPORTIVE OF THE [MINING] ACTIVITY COUNTRYWIDE, AND THEY’RE DOING EVERYTHING THEY CAN.” SCOTT HICKS

A work crew inside Lumina Gold’s core-storage facility in Ecuador. LUMINA GOLD

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VP OF CORPORATE DEVELOPMENT AND COMMUNICATIONS, LUMINA GOLD

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Bolivian gov’t seeks new deal with miners, Minister Navarro says INTERVIEW  

| Openness to foreign investment takes root in minerals sector

BY TOM AZZOPARDI

T

Special to The Northern Miner LA PAZ, BOLIVIA

he Bolivian government is “building a new relation between business and the state,�

Bolivia’s Mining and Metallurgy Minister Cesar Navarro tells The Northern Miner in a sit-down interview in his government office.

Soon after taking office in January 2006, Bolivian President Evo Morales laid down the law to foreign companies. The new relationship between the state and investors would be that of partners, not “master and servant.�

True to his word, the president acted where he believed the partnership had broken down. Troops were sent to occupy the Vinto tin smelter, where the government said that commodity giant Glencore (LON: GLEN) had failed to carry out promised investments.

Mines, power plants and gasfields followed, building up Morales’ popularity with supporters, but scaring off all but the bravest investors.

A decade on, Morales’s mines minister Navarro is looking to attract foreign companies back to its mining industry.

Economic necessities partly explain the about-turn.

Despite Bolivia’s massive geological potential, its mining industry remains tiny. In 2017, it exported just US$2.2-billion worth of minerals, compared with US$37 billion from neighbouring Chile.

Meanwhile, revenues from Bolivia’s gas exports, the windfall which has bankrolled Morales’ public spending drive, are declining.

In addition, the government is facing the costs of its earlier clashes with the global mining industry. Last November, the Permanent Court of Arbitration ordered Bolivia to pay South American Silver US$27 million for the government’s expropriation in 2012 of the junior’s Malku Khota silver deposit. (The company has since renamed itself TriMetals Mining [TSX: TMI] and reoriented towards U.S. gold exploration.)

Now the Bolivian government is facing a US$700-million claim from Glencore over Vinto and other assets.

To attract fresh investment to the sector, Navarro has travelled widely aiming to convince companies of the Bolivian government’s new openness to foreign investment.

Since taking office five years ago, he has attended three PDACs in a row, as well as events in Vancouver, New York and London.

The message, he says, is getting through.

Despite the nationalizations, a handful of private companies have continued to invest and operate in Bolivia, highlighted by Sumitomo’s San Cristobal silver-zinc-lead mine and Pan American Silver’s (TSX: PAAS; NASDAQ: PAAS) San Vicente silver-zinc-lead mine. “Japanese, Canadian and Swiss capitals have all been able to live with us,� the minister notes.

But many of these operations are approaching the end of their mine life, and investment is needed to explore and develop new mines.

The vehicle for the new relationship is the Mining Production Contract, which private investors can sign with state mining company Comibol, which owns or has first say over the most prospective ground.

Although the state has ownership

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Cesar Navarro, Bolivia’s Mining and Metallurgy Minister, in his office in La Paz, Bolivia.   BOLIVIAN MINISTRY OF MINING AND METALLURGY

“JAPANESE, CANADIAN AND SWISS CAPITALS HAVE ALL BEEN ABLE TO LIVE WITH US.�

CESAR NAVARRO MINING AND METALLURGY MINISTER, BOLIVIA

of the resource, it grants the company a lengthy concession period during which it can explore, build and operate a mine.

In exchange, the company promises to undertake certain investments in stages throughout the project’s life, including rehabilitating the site when the mine closes.

Once signed with Comibol, the contract is sent to Congress, where it would be approved as a law and finally promulgated by the president himself, giving the contract considerable legal weight.

In January, Navarro signed the first such deal for an exploration project with Vancouver-based New Pacific Metals (TSXV: NUAG; USOTC: NUPMF). The 45-year contract is due to receive legislative approval by mid-year.

The government is already in talks with potential partners, and aims

to sign at least two more contracts by year-end.

At Comibol’s offices in La Paz, CEO Zelmar Andia’s desk is stacked with information on gold, zinc and tin projects ready for investors to peruse. “We have all the minerals — our deposits are large and world-class — but Bolivia needs companies to come and invest, and believe in us again,� the executive says.

That could be a hurdle, given the expropriations of the recent past.

But M i n i ster Nava r ro d i smisses such fears. Past expropriat ions, such as Glencore’s Colquiri mine or Malku Khota, were usually in response to often violent breakdowns in community relations. “Any state would do the same, if a project is harming the population or causing conflict,� he says.

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The Vinto tin smelter in Bolivia’s Oruro Department after its nationalization in 2007.

Vinto Metallurgical Co. started as a state enterprise in 1966, and was privatized in 1999.   EMPRESA METALÚRGICA VINTO

This time around, to ensure the sustainability of new investments, the government is concentrating on building the necessary trust, not just between the state and business, but also with local communities. “In Bolivia, like everywhere else in Latin America, if you have a bad relationship with the community, they won’t open the door to let you in,� Navarro says.

The government is doing its part to improve relations in mining areas, seeking to settle long-running rivalries between indigenous com-

munities, mining cooperatives and others, which were often exacerbated by the arrival of a foreign company.

Fortunately, the latest cohort of mining companies looking to invest in Bolivia seems to have a much more enlightened attitude to government and community relations. “New Pacific has developed a very interesting relationship with the communities,� the minister notes. — Based in Santiago, Chile, Tom Azzopardi is a freelance journalist specializing in the resource industries.

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E D I T O R IA L Proposed US mining legislation follows strict party lines REGULATION

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O P- E D

| Democrat House bill aims for 12.5% royalty on hardrock miners

T

he increased polarity and hardening of political stances in the U.S. — combined with the flip last election to Democratic Party control of the U.S. House of Representatives, and its committees — is bearing fruit that’s potentially poisonous to miners in the form of highly restrictive legislation proposed by Rep. Raúl Grijalva’s

BY JOHN CUMMING jcumming@northernminer.com (D-Ariz.), who chairs the House Natural Resources Committee, and co-sponsored by Alan Lowenthal (D-Calif.), who chairs the House Subcommittee on Energy and Mineral Resources.

At its core, Grijalva’s (D-Ariz.) Hardrock Leasing and Reclamation Act of 2019 seeks to replace the General Mining Law of 1872, which is still in effect and governs mining on public lands in the U.S., and has long been the target of eco-activists.

For miners, probably the worst part of the bill is its proposed imposition of a 12.5% royalty on all new mining operations, and 8% on existing ones. This, say the bill’s proponents, would result in hard-rock miners paying the same royalties as the oil and gas and coal-mining industries.

In the deceptive language of the bill’s proponents and supporters, hard-rock miners have been mining “for free” on public lands in the U.S. by not paying federal royalties, conveniently ignoring the myriad of claims fees and corporate and personal income taxes paid by miners and explorers that swell government coffers.

The American Exploration & Mining Association had a harsh reaction to the bill: “The sweeping changes in Rep. Grijalva’s legislation are unnecessary and a disaster in the making for the domestic mining industry, and for America. The fact is, hardrock mining is fundamentally different than oil, gas and coal, because it is much more difficult to find and develop hardrock mineral resources.

“This bill ignores these differences and seeks to force-fit royalty and leasing programs for coal, oil and gas on hardrock mining. Without question, the Grijalva bill, if enacted, would substantially chill privatesector investment in exploring for and developing minerals on federal land, and dramatically increase our already extensive reliance on foreign sources of minerals.”

Grijalva says the bill also aims to: “end the outdated claim-staking and patenting system that gives miners unfettered access to nearly all public land” in the U.S.; require “meaningful tribal consultation”; eliminate the “exalted status that mining currently enjoys” on public lands; and make more land off limits to hardrock mining.

Barrick Gold president and CEO Mark Bristow told the Elko Daily that, with respect to Barrick joint venturing most of its Nevada assets with Newmont Goldcorp, the proposed bill “will screw up this deal.

That will take away everything we want to unlock.

“Our job as businessmen should be making profits. Legislators should understand that. That was how this country was built — hardworking people delivering and paying their taxes.”

The co-sponsors on the bill are all Democrats, and include: Rep. Don Beyer (D-Va.), Rep. Earl Blumenauer (D-Ore.), Rep. Matt Cartwright (D-Pa.), Rep. Peter DeFazio (D-Ore.), Rep. Diana DeGette (D-Colo.), Rep. John Garamendi (D-Calif.), Rep. Deb Haaland (D-N.M.), Rep. Jared Huffman (D-Calif.), Rep. Mike Levin (D-Calif.), Rep. Jim McGovern (D-Mass.), Rep. Grace Napolitano (D-Calif.), Rep. Eleanor Holmes Norton (D-D.C.), Rep. Mark Pocan (D-Wis.) and Rep. Darren Soto (D-Fla.).

Meanwhile in the U.S. Senate, Senator Tom Udall (D-N.M.) introduced his own bill seeking to replace the 1872 Mining Law in a similar fashion, though with Republicans holding the majority in the Senate, the bill is likely to be voted down there.

Original cosponsors of Udall’s bill were again all Democrats, and included: Senators Martin Heinrich (D-N.M.), Michael Bennet (D-Colo.), Ed Markey (D-Mass.), Ron Wyden (D-Ore.), Cory Booker (D-N.J.), Kamala Harris (D-Calif.) and Jeff Merkley (D-Ore.).

Udall tried to enact a 2–5% royalty on hardrock miners in 2015, but was blocked by Harry Reid, the Democrat U.S. Senator for Nevada, who retired in 2016.

In another example of Democrats and Republicans talking past each other, U.S. Representative Mark Amodei (R-Nev.), whose district takes in northwestern Nevada’s goldfields, opposes new royalties, and reintroduced his National Strategic and Critical Minerals Production Act in early May, aiming to streamline permitting processes.

Comments Amodei: “Permitting delays stand in the way of highpaying jobs and revenue for local, often rural, communities. In fact, since the 1990s, mineral exploration has stagnated and even declined in some cases because regulatory changes have caused the permit approvals process to take as long as 10 years.” TNM

COMPANY INDEX Agnico Eagle Mines. . . . . . . 5 Anaconda Mining. . . . . . . . 5 Atlantic Gold . . . . . . . . . . . . 1 Aurania Resources. . . . . . . 11 Barrick Gold. . . . . . . . . . . . . 5 Cameco. . . . . . . . . . . . . . . . 16 Columbus Gold. . . . . . . . . 14 Comibol. . . . . . . . . . . . . . . 3,10 Continental Gold. . . . . . . . 11 Equinox Gold. . . . . . . . . . . . 9 Glencore . . . . . . . . . . . . . . . . 3 Golden Arrow Resources. 11 Gran Colombia Gold . . . . 11

Iamgold. . . . . . . . . . . . . . . 5,14 Imperial Metals . . . . . . . . . . 1 Leagold Mining. . . . . . . . . 14 Los Andes Copper. . . . . . . 13 Lumina Gold . . . . . . . . . . . . 1 Marathon Gold. . . . . . . . . . . 7 Meridian Mining. . . . . . . . 14 New Energy Metals. . . . . . 14 New Gold . . . . . . . . . . . . . . . 6 New Pacific Metals . . . . . . 3,9 Newcrest Mining. . . . . . . . . 1 Newmont Goldcorp . . . . . . 2 Nordgold. . . . . . . . . . . . . . . 14

Orefinders Resources . . . . . 5 Orvana Minerals. . . . . . . . . 8 Pan American Silver. . . . 3,10 Pretium Resources. . . . . . . . 6 Sierra Metals. . . . . . . . . . . . 14 Silvercorp Metals. . . . . . . . 10 South American Silver. . . . 3 St Barbara. . . . . . . . . . . . . . . 1 TMAC Resources. . . . . . . . . 6 TriMetals Mining. . . . . . . . . 3 Wesdome Gold Mines. . . . . 6 Yamana Gold . . . . . . . . . . . . 5

Central banks, ETFs drive Q1 gold demand FACTS ‘N’ FIGURES

| Mine supply largely unchanged, recycling moves upwards

The following is an edited summary from the World Gold Council, based on its “Gold Demand Trends Full Year and Q4 2018” report. To access the report, visit www.gold.org.

G

lobal gold demand grew to 1,053 tonnes in the first quarter of 2019, up 7% on the same period last year, according to the World Gold Council’s latest Gold Demand Trends report. This year-on-year increase largely owed to growth in central bank buying, as well as growth in gold-backed exchange-traded funds (ETFs).

Central banks bought 145.5 tonnes gold in the first quarter, up 68% on the same period in 2018, and representing the strongest start to a year since 2013. Diversification and a desire for safe, liquid assets were again the main drivers of the purchases. On a rolling four-quarter basis, gold buying reached a record high for our series of 716 tonnes.

First-quarter jewellery demand rose 1% compared with the same period last year, at 530 tonnes, boosted by India. A lower local rupee gold price in February and March coincided with the traditional gold-buying wedding season, lifting jewellery demand in India to 125 tonnes, for a 5% increase on the same period last year, and the highest first quarter since 2015.

ETFs and similar products added 40 tonnes in the first quarter, up 49% on last year. Funds listed in the U.S. and Europe benefitted from the largest inflows, although the former were more erratic, while the latter were underpinned by continued geopolitical instability.

DIVERSIFICATION AND A DESIRE FOR SAFE, LIQUID ASSETS WERE AGAIN THE MAIN DRIVERS OF CENTRAL BANK PURCHASES, WHICH HIT A RECORD HIGH OF 716 TONNES ON A ROLLING, FOURQUARTER BASIS. Bar and coin investment softened slightly, down 1% to 258 tonnes. This purely owed to a fall in demand for gold bars, as official gold-coin buying grew 12% to 56 tonnes. China and Japan were the main contributors to the decline: in Japan, net investment turned negative on profit-taking after a surge in the local price in February.

Gold used in applications such as electronics, wireless and LED lighting fell 3% to 79 tonnes.

Trade frictions, sluggish sales of consumer electronics and global economic headwinds hit the technology sector.

The total gold supply was largely unchanged in the first quarter at 1,150 tonnes. Modest growth in mine production and recycling was offset by a decline in net hedging.

Mine production and recycling levels saw small increases compared with first-quarter 2018, rising to 852 tonnes and 288 tonnes. TNM

GOLD: Q1 2019 VS. Q1 2018 • Overall demand was 1,053 tonnes, up 7% • Total consumer demand was flat at 788 tonnes • Total investment demand was up 3% to 298 tonnes • Global jewellery demand grew 1% to 530 tonnes • Central bank demand increased 68% to 146 tonnes • Technology demand decreased 3% to 79 tonnes • Total supply was flat at 1,150 tonnes • Recycling up 5% to 288 tonnes

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GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 27–JUNE 9, 2019

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Dodging drug smugglers in Western Pakistan ODDS ‘N’ SODS

BY RALPH RUSHTON Special to The Northern Miner

W

estern Pakistan is a fascinating place. It’s remote, arid, tribal, and these days, a Taliban stronghold — not the friendliest of spots for westerners planning on coming home still attached to their heads.

It was slightly safer when I was there in 1997, although it still had its moments.

As a government-sanctioned traveller carrying out mining-related business, I was allowed to go pretty much anywhere off-road, as long as I took two guards — known as “Levies men” — with me at all times.

My job was prospecting for copper deposits hot on the heels of BHP’s massive Reko Diq discovery in the Chagai Hills (pronounced “cha-ee”).

But the Balochistan desert was an iffy place once you got off the road.

It was infested with what I was told were drug convoys carrying opiates, coming through at night, heading from Afghanistan to the Makran Coast of Iran on the Gulf of Oman.

There, the contraband would be loaded onto speed boats heading to Dubai, and transhipped to the end users in Europe.

Groups of 20 to 30 vehicles, heavily protected by anti-aircraft guns mounted on pickup trucks, would drive through Pakistan as fast as possible, across the salt pans and reg desert, not stopping for anyone. “shoot first, and disappear” was said to be their modus operandi.

As for me, I had noticed the ubiquitous tire tracks all heading in the

| On the hunt for the next Reko Diq in Balochistan

same north–south direction.

One fine day, off the road north of Dalbandin (a hellish dustbowl town, loosely described as a “city”) heading to the Chagai Hills, my Balochi geologist and guide, Naseem, politely told me we had to go and pay our respects to the local headman connected to the infamous drug convoys.

As long as he knew we were working in the area, we’d be left alone, and, hopefully, not shot at by crazed smugglers packing 50-calibre guns.

Seemed like a reasonable trade-off to me, and besides, Naseem said he knew the man, so it would be quick.

We pulled up to a square mudbrick compound with a small metal door.

Naseem knocked, and a small slot opened at eye level. In a pure Indiana Jones moment, a pair of intense dark eyes peered suspiciously out at us.

Muttering something in Balochi, Naseem handed a business card through the slot, and it clanged shut.

We waited.

After half an hour in the blazing sun, the door opened and a flurry of locals came out, jumped into their trucks, and left in a cloud of dust.

We were ushered into a large, carpeted room, with big cushions on the floor, but otherwise devoid of furniture. A low, round table sat in the middle of the room, heav y with local food: grilled, curried and fried goat, lamb, roti, eggs, onion and lentil daal, hard white cheese, and rose water to drink.

It was quite the spread, and obviously meant for us. Sure enough, we were beckoned over by a large man

Pakistani government “Levies men” (armed guards) change a tire in a remote stream bed close to the Balochistan- Afghanistan border. PHOTO BY RALPH RUSHTON

carrying a machine gun and invited to help ourselves. He was one of four guards stationed around the room with an impressive “don’teven-think-about-it” look to them.

I didn’t.

There was a knock on the door and our host, whom I’ll call “Ahmed,” came in and warmly greeted Naseem. They obviously knew each other well.

My turn next, and after the usual extended courtesies, we sat back down with Ahmed to eat lunch.

Naseem filled him in on where we wanted to go, what we were doing, and that was it.

We were apparently safe to get on with our work.

Except for the slightly worrying moment when Ahmed invited me to visit Afghanistan with him. His family owned a small copper mine

and he politely asked if it would be of interest to our company.

I could see the dollar signs blinking behind his eyes. Everyone there knew about BHP’s giant Reko Diq project, so Western mining companies were obviously going to pay top dollar for copper wherever it was.

My lame response about not having an Afghan visa, so I’d better not, was met with derisory laughter from Ahmed and the guards: I wouldn’t need a visa if I went with Ahmed, because his brother was the governor of whatever Afghan province the mine was in.

This was rapidly becoming a bit of a squeaky bum moment, and starting to look like an invitation I couldn’t refuse. (A vivid image of me, five years hence, chained to a tree in a small Afghan village with my friend the goat popped into my

brain, prompting more than a few beads of sweat.)

Thankfully, Naseem, thinking quickly, bailed me out using all the local courtesies he could muster: Oh, very sorry, we’d love to, but ... gosh, is that the time? We really must be going — we couldn’t possibly do it because our schedule is tight, and besides, what would the Levies men think, eh? Don’t want them getting ticked off at us now, do we? After all, they had guns and they were with me to make sure I didn’t do anything daft (like head off to Helmand with a warlord), and would get into pots of trouble with their commander back in Dalbandin if I got kidnapped and fed to the camel spiders.

We ate up and left, much to my relief.

A few months later I was supping a pint in my home base of Budapest, chatting to a well-connected friend who worked for a Western Embassy.

I told him the story and showed him Ahmed’s business card (yes, warlords carry business cards).

His eyes opened wide with recognition and my friend let out a soft whistle. He told me Ahmed was one of the leading smugglers of opiates into Europe. Ruthless, rich, powerful, nigh on untouchable, and well connected. And I’d turned down an invitation from him. Which in my mind, is a close as I’ll ever come to being a bad ass.

— Ralph Rushton is an exploration geologist who prospected the Tethyan belt from Bulgaria, through Turkey and Iran, and into Western Pakistan in the mid-1990s.

YMP launches 10 more scholarships totalling $44K, including inaugural Northern Miner scholarship EDUCATION

| Barrick, Agnico, Iamgold, Yamana, Anaconda, Orefinders and TNM chip in

BY NORTHERN MINER STAFF

T

he Young Mining Professionals (YMP) is bumping up its YMP Scholarship Fund for the 2019–2020 academic year for students in mining-related university programs in Canada.

The YMP Scholarship Fund is a registered charity that donates 100% of its receipts to students via this scholarship program, and is eligible to offer tax receipts to its donors. These latest scholarships are being funded by Barrick Gold (TSX: ABX; NYSE: GOLD), Agnico Eagle Mines (TSX: AEM; NYSE: AEM), Iamgold (TSX: IMG; NYSE: IAG), Yamana Gold (TSX: YRI; NYSE: AUY), Anaconda Mining (TSX: ANX), The Northern Miner and Orefinders Resources (TSXV: ORX).

The 2019 YMP Scholarship Fund includes: The Peter Munk Scholarship — A $10,000 scholarship in partnership with Barrick Gold, as well as an interview for an internship with Barrick, will be awarded to a student who embodies Peter Munk’s entrepreneurial spirit.

The Agnico Eagle Perseverance/ Kajussissimainarniq Scholarship — A $10,000 scholarship in partnership with Agnico Eagle Mines, as well as an interview for an internship with Agnico, will be awarded to a Nunavut Inuit student pursuing a career in mining.

Orefinders Mining Innovation Scholarship — A $4,000 scholarship in partnership with Orefinders Resources to an exceptional Canadian university student who shows the vision for change in the

1-16MAY27_Main .indd 5

Iamgold donating $4,000 to the Young Mining Professionals (YMP) Canadian Mining Scholarship in September 2018, from left: Stephen Stewart, director of YMP Toronto and president and CEO of Orefinders Resources; scholarship award winner Romy Done (who now works at Iamgold); Steve Letwin, president and CEO of Iamgold; and Anthony Moreau, business development and innovation manager at Iamgold. YOUNG MINING PROFESSIONALS

mining industry via an innovative technical solution.

The Woman in Mining Scholarship sponsored by Iamgold — One $4,000 and one $1,000 scholarship funded by Iamgold will be provided to two exceptional women enrolled in mining-related programs via an innovative one-page creation.

The Student in Mining Scholarship sponsored by Yamana Gold — One $4,000 and one $1,000 scholarship funded by Yamana will be provided to two extraordinary aspiring industry professionals enrolled in mining-related programs via an innovative one-page creation.

The Atlantic Canadian Student

in Mining Scholarship sponsored by Anaconda Mining — One $4,000 scholarship funded by Anaconda Mining will be provided to a tech-savvy student of mining who makes an impressive prediction for the future.

The Northern Miner Scholarship — A $5,000 scholarship funded

by The Northern Miner to an individual with a vision for the future and a passion for putting pen to paper. The best submitted essay will have an opportunity to be published in an issue of The Northern Miner.

Scholarships will be awarded to students who are pursuing a career in the mining industry and are enrolled in mining-related programs

(earth sciences, mining engineering, etc.) for the 2019–2020 academic year at Canadian universities. Well-qualified post-secondary students in mining-related college programs will also be considered.

The deadline to apply for all scholarships is Aug. 31, 2019, with the winners announced on Sept.

30, 2019.

Each scholarship requires individual applications, and YMP says that “applicants will be considered based on their academic achievement, their extracurricular involvement, and their submissions demonstrating their creativity, perseverance, innovative ideas and commitment to a career in mining.”

The YMP further comments: “A strong entrepreneurial spirit is needed in Canada’s exploration and mining industries, and these scholarships recognize the qualities that are integral to developing

mines and building mining and exploration companies.”

For more information on the scholarships, visit www.youngminingprofessionals.com/scholarships.

Individuals or corporations that would like to support or create a scholarship can contact YMP at toronto@youngminingprofessionals.com.

YMP is a growing association of mostly under-40 mining professionals with chapters in Vancouver, Toronto, Sudbury, Montreal, London, U.K., Perth, Brisbane and Johannesburg.

The YMP’s role, it says, is to help participants obtain the skills, support and knowledge to advance their careers, develop a network of contacts within the industry, and identify career and miningrelated investment opportunities.

YMP facilitates these objectives through networking, social events and guest speaker events. TNM

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Workers at Atlantic Gold’s Moose River Consolidated gold project in Nova Scotia. ATLANTIC GOLD

St Barbara to acquire Atlantic Gold for $802M

ATLANTIC GOLD From 1

gold mining complex in Nova Scotia into commercial production on March 1, 2018. Phase One of the complex involves the mining of two open-pit gold deposits: Touquoy and Beaver Dam. Last year, Touquoy produced 90,531 oz. gold — surpassing the company’s 2018 guidance of 82,000 to 90,000 ounces. Those ounces were produced at cash costs of C$558 per oz. and all-in sustaining costs (AISCs) of C$731 per ounce.

Atlantic expects Touquoy will produce between 92,000 and 98,000 oz. gold in 2019 at cash costs of

C$560 to C$610, and AISCs of C$695 to C$755 per ounce.

The company expects to get a mining permit for Beaver Dam in less than a year.

In addition to Touquoy and Beaver Dam, Atlantic has several other deposits and exploration projects on its land package that it could fold into an extended mine plan based around a central processing facility at Touquoy. The Cochrane Hill deposit is 80 km from the central mill and the Fifteen Mile Stream deposit is 57 km from the mill. Both deposits are accessible by highway.

As for the spinco, Dean says, it

A worker collects a water sample on Atlantic Gold’s property in Nova Scotia. ATLANTIC GOLD

1-16MAY27_Main .indd 6

“IT’S NOT TOO DIFFICULT TO EXPLAIN $2.90 IN CASH. CASH IS CASH, AND THAT’S A RELATIVELY RARE THING IN OUR MINING SPACE THESE DAYS, AND WE’RE VERY PROUD TO HAVE BEEN ABLE TO DELIVER THAT TO SHAREHOLDERS.” STEVEN DEAN CHAIRMAN AND CEO, ATLANTIC GOLD

will be an entity that principally owns Atlantic’s investment in Velocity, and will be listed on the TSX Venture Exchange.

Atlantic invested $9 million for

a 39.2% (partly diluted) stake in Velocity Minerals in January. A preliminary economic assessment of Velocity’s flagship asset, Rozino, in September 2018, outlines the

potential for multiple open-pit deposits that would share a central mill, with a life-of-mine grade of 1.51 grams gold per tonne, a low strip ratio, and AISCs of US$550 to US$650 per ounce.

At the time of the investment, Dean referred to Atlantic’s stake in Velocity as a “strategic partnership,” and said he looked forward to “the shared objective of advancing its Bulgarian exploration assets through to feasibility stage and beyond.”

St Barbara’s friendly offer is expected to close in July, though it contains a $25-million break fee.

In a research note on Australia-Canada M&A, BMO Capital Markets analyst Brian Quast notes that “the valuation gap between Australian and Canadian producers creates an environment ripe for consolidation.”

“Australian producers hold the upper hand in valuation, free cashflow generation, and market cache to purchase Canadian assets, many of which have struggled mightily of late,” he continued. “As such, we view the consolidation of Australian and Canadian mid-tier miners as being inevitable.”

Quast noted that Australian gold producers “have several options to expand in Canada in transactions that would be accretive to shareholders on the basis of net asset value and/or cash flow,” and speculated potential acquirees could include New Gold (TSX: NGD; NYSE-AM: NGD); Pretium Resources (TSX: PVG; NYSE: PVG); TMAC Resources (TSX: TMR) and Wesdome Gold Mines (TSX: WDO). TNM

2019-05-21 6:06 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 27–JUNE 9, 2019

7

The camp at Marathon Gold’s Valentine Lake property in Newfoundland. MARATHON GOLD

Metallurgical results lift Marathon Gold’s shares NEWFOUNDLAND

BY TRISH SAYWELL

T

tsaywell@northernminer.com

est results from Marathon Gold’s (TSX: MOZ) Leprechaun and Marathon deposits at the company’s Valentine Lake gold camp in Newfoundland and Labrador show they are amenable to heap leaching.

Selected intervals of mineralized material were shipped to SGS Canada in late 2018, and highlights from the tests show a 72% goldextraction average for a -25 mm crush size from the Leprechaun deposit after 160 days of leaching, and 65% for the same crush size from the Marathon deposit.

Final gold recoveries could be 2% lower after processing losses.

The latest results are better than the 59% gold recovery used in a preliminary economic assessment from October 2018.

“Heap leaching of low-grade gold material is a potential enhancement for the project in recovering gold that may otherwise go on a stockpile or waste dump,” says Phillip Walford, Marathon’s president and CEO. “The PEA showed that traditional milling is expected to produce more than 85% of the gold for the project, with the balance from the heap leach. These very good heap-leach test results more than justify the consideration of heap leaching in our development plan, and have improved the project

| Positive tests show amenability of deposits to heap leaching

economics.”

The Valentine Lake camp hosts four near-surface, mainly pit-shell constrained deposits, with measured and indicated resources of 2.69 million oz. (45.2 million tonnes grading 1.85 grams gold per tonne), and inferred resources of 1.53 million oz. (26.86 million tonnes grading 1.77 grams gold per tonne).

Most of the resources occur in the Marathon and Leprechaun deposits, both of which also have resources below the current pit shell, and are open at depth and on strike. Gold mineralization traces down almost a vertical kilometre at Marathon, and over 350 metres at Leprechaun.

The four deposits occur over a 20 km long system of gold-bearing veins, and much of the 240 sq. km property has had little exploration.

News of the test results on May 15 lifted Marathon’s shares 7.9% to close at 95¢.

The shares have traded in a 52week range of 65¢ to $1.05 and sold for $1.04 at press time. The company has a $167.5-million market capitalization.

Mick Carew of Haywood Securities raised his target price on the stock to $2 from $1.90, after the heap-leach tests were announced.

“We continue to like Marathon, given it is one of the few undeveloped, potentially open-pittable gold deposits in Canada, and a prime takeover target for a mid-tier or large-cap gold producer looking to

add to their longer-term production pipeline,” Carew writes in a client note.

“With further support from the column-leach test results demonstrating the viability of lower-grade material at both the Marathon and Leprechaun deposits being amenable to heap leaching, we have updated our model accordingly. We have

added a small heap-leach circuit [5,500 tonnes per day] that will process lower-grade [>0.5 gram per ton gold] material that would otherwise be treated as waste. The heap-leach circuit is expected to produce 21,000 oz. gold annually over the [11.75-year] life of the mine.”

Barry Allan of Laurentian Bank Securities has a $2.50-per-share

target on the stock.

“The Valentine Lake gold project is a 4.2 million oz. resource that has the capacity to be a +200,000 oz. producer for more than 10 years, and is a major undeveloped openpit resource that should attract a good level of corporate interest, once the prefeasibility study is completed.” TNM

“HEAP LEACHING OF LOW-GRADE GOLD MATERIAL IS A POTENTIAL ENHANCEMENT FOR THE PROJECT IN RECOVERING GOLD THAT MAY OTHERWISE GO ON A STOCKPILE OR WASTE DUMP.” PHILLIP WALFORD PRESIDENT AND CEO, MARATHON GOLD

Dylan Abbott (left), geologist, and Phillip Walford, Marathon Gold president and CEO, examine drill core at the Valentine Lake Gold Camp core building. MARATHON GOLD

1-16MAY27_Main .indd 7

2019-05-21 6:06 PM

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MAY 27–JUNE 9, 2019 / THE NORTHERN MINER

Orvana Minerals’ Don Mario gold mine in Bolivia. ORVANA MINERAL

Orvana squeaks out $3M profit in Q2 GOLD

| Junior miner adds exploration play in Argentina to mines in Bolivia, Spain

BY JOHN CUMMING jcumming@northernminer.com

T

oronto-based junior miner Orvana Minerals (TSX: ORV) posted a relatively strong fiscal second quarter ended March 31, 2019, with good performance from its two operating mines: the Don Mario gold mine in Bolivia and the El Valle gold-copper mine in Spain.

Orvana recorded net income of $3.3 million on $36 million in revenue during the past quarter, compared with a net loss of $3.5 million on $37 million in revenue during the year-ago quarter.

Fiscal year to date, Orvana has

Orvana’s El Valle gold-copper mine in Spain. ORVANA

THE PERFECT

GIFT

a net profit of $2.3 million on $72.3 million in revenue, versus a net loss of $6.9 million on $71 million in the year-ago period.

At Don Mario during the second quarter, Orvana produced 9,564 oz. gold, or 11% less than in the first fiscal quarter, but almost the same as the year-ago quarter.

At El Valle, Orvana produced 17,738 oz. gold in the second quarter, or 7% more than in the first quarters, and 17% more than in the year-ago quarter. Byproduct copper output totalled 1.44 million lb. in the second quarter, versus 1.38 million lb. in the first quarter.

On a combined gold-equiv-

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alent basis, Orvana produced 31,112 gold-equivalent oz. during the second quarter versus 30,988 oz. in the first quarter and 31,905 oz. in the year-ago quarter.

Consolidated second-quarter all-in sustaining costs were US$1,107 per oz. gold, or 5% lower compared to the first quarter, and 15% lower compared to the second fiscal quarter of 2018.

The company ended the period with a cash balance of $9.3 million, and in recent months arranged an €8-million credit facility with three Spanish banks, helping the miner repay money owed to Samsung C&T in a facility arranged in August 2016.

Orvana CEO Juan Gavidia said in a release that “having already established a track record of consistent operational performance, Orvana is now clearly delivering on unitary costs, and profitability metrics … we are firmly committed to delivering on our production guidance, and ensuring extended mine lives for our assets in Spain and Bolivia.”

Orvana says it is on track to meet its production guidance for fiscal 2019 of 100,000 to 110,000 oz. gold, and at least 3.2 million lb. copper.

The company recently took a significant step into Argentina with an agreement to buy the Taguas gold property in San Juan province, with Orvana getting 100% of Taguas by granting the vendor an indivisible 2.5% net smelter return royalty on any metals mined from the property. The vendor is indirectly owned by Orvana’s 51.9% shareholder.

Orvana describes Taguas as consisting of 15 mining concessions covering 32.7 sq. km on the eastern flank of the Andes, between 3,500 and 4,300 metres above sea level, 25 km north of Barrick Gold’s Veladero gold mining operations.

The company says Taguas is a “potential third operation” that is at an advanced exploration stage, and where an engineering program is being developed. It plans to complete a preliminary economic assessment report on Taguas later this year. TNM

2019-05-21 6:06 PM

SOUTH AMERICA

SPECIAL FOCUS

Filo Mining’s Filo del Sol copper-gold-silver project, which straddles the Chile-Argentina border. FILO MINING

Equinox Gold pours first gold at Aurizona in Brazil STARTUP

| Gets final operating permit

BY TRISH SAYWELL tsaywell@northernminer.com

W

hen Equinox Gold (TSXV: EQX; US-OTC: EQXFF) was formed in December 2017 as a three-way merger of Trek Mining, Newcastle Gold and Anfield Gold, it launched with a development asset in Brazil, a couple of non-core assets elsewhere in South America and Mexico, a small gold deposit in British Columbia, and the Castle Mountain gold project in California.

Today, the junior has one asset in production, a second one on the cusp of commercial production and a third in the pipeline. It expects to produce between 230,000 and 265,000 oz. gold in 2019, and at least 300,000 oz. gold in 2020.

“We had big ambitions to build a big company,” Equinox Gold chairman Ross Beaty said on a recent conference call. “Our focus right now is to continue to build production — continue to grow reserves and resources. The bigger we can make this company now, the better it will perform, not only if gold is static, but also it will be a standout winner if gold really moves the way I think it will.”

Equinox Gold became a gold producer last year through the acquisition in October of the Mesquite mine, a heap-leach operation in California, near the state’s borders with Mexico and Arizona, which has produced over 4 million oz. gold at a rate of 120,000 to 150,000 oz. gold per year.

“We got it at a really good time, at a really good price, and we think that’s going to be a really excellent asset for us over the medium term,” Beaty said of Mesquite, which sits 320 km from Equinox’s Castle Mountain gold project in California.

Equinox completed a prefeasibility study on Castle Mountain in June 2018, showing potential to build a mine that would produce 200,000 oz. gold per year for 16 years over two phases. The study estimated all-in sustaining costs (AISCs) of US$763 per oz. and aftertax, life-of-mine cumulative cash flow of US$865 million. The company plans to make a construction decision on Castle Mountain in the third quarter of this year.

But what Equinox has spent most of the last 16 months doing is building its brownfield Aurizona gold mine in Brazil, which is on the verge of commercial production.

The company announced the first gold pour on May 14.

“The stockpile is reconciling See EQUINOX / 12

1-16MAY27_Main .indd 9

The New Pacific Metals team escorts visitors to the Silver Sand silver-polymetallic project in south-central Bolivia, from left: Marco Nina, community relations associate; Carolina Ordonez, communications and corporate affairs manager; Peter Megaw, technical advisor; Alex Zhang, VP of exploration; Chris Thompson, PI Financial head of mining research; Gordon Neal, president; David Turner, Silver Sand project manager; and Craig Stanley, VIII Capital mining analyst. PHOTO BY TOM AZZOPARDI

New Pacific blazes a trail at Silver Sand in Bolivia SITE VISIT

| Junior embarks on second 55,000-metre drill program at high-grade prospect Bolivia, after clinching a pioneer- change attitudes with its promis- THE SILVER SAND

BY TOM AZZOPARDI ing deal with Bolivian authorities. ing Silver Sand silver-polymetallic PROJECT IS Special to The Northern Miner For 500 years, since the dis- project, located near Betanzos, 54 BETANZOS, BOLIVIA covery of the giant Cerro Rico km northeast of Potosi by mostly ENCOURAGING silver deposit at Potosi, Bolivia has paved road.

BOLIVIAN ancouver-based junior tantalized visitors with its mineral In one telling of the story, New GEOLOGISTS TO RENew Pacific Metals (TSXV: wealth. But the country’s unstable Pacific Metals CEO Rui Feng NUAG; US-OTC: NUPMF) politics, difficult geography and (who is also CEO and chairman EXAMINE THE ROCKS could be on the verge of a major soaring altitudes have put off many.

AROUND THEM. See NEW PACIFIC / 10

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Llamas on parade at New Pacific Metals’ Silver Sand silver-polymetallic property in Bolivia. PHOTO BY TOM AZZOPARDI

WWW.NORTHERNMINER.COM

Fresh core from the Silver Sand project in Bolivia. PHOTO BY TOM AZZOPARDI

New Pacific blazes a trail at Silver Sand in Bolivia NEW PACIFIC From 9

of Silvercorp Metals (TSX: SVM; NYSE-AM: SVM) — China’s largest primary silver producer) was tipped off about the Silver Sand property when a report landed on his in-tray from a former classmate, now at China’s prestigious Academy of Geosciences.

“When we read it, it looked too good to be true,” says Alex Zhang, vice-president of exploration at New Pacific Metals. But when two other potential projects failed to live up to expectations, the geologist flew down to Bolivia in early 2017 to see the site for himself.

Zhang says he was astounded at the size and grade of the mineralization. One of the first holes drilled at the site intercepted 187 metres of mineralized rock, with an average grade of 162 grams silver per tonne.

Within months of the visit, New Pacific Metals arranged to buy Silver Sand from its Chinese owner for $40 million, closing the deal in July 2017.

New Pacific Metals and Silver Sand’s previous Chinese owner were far from the first to spot the area’s potential.

The rugged landscape at the site is dotted with tunnels, mine dumps and abandoned ruins, including a church and a smelter — evidence the rocks had been mined since colonial times. Mining activities at the site could even predate Cerro Rico.

Today, artisanal miners still mine several areas, pushing mine carts full of broken rocks out of narrow tunnels.

The previous owners carried out limited exploration work from 2012 to 2015, and subsequent work by New Pacific Metals has only confirmed the size of the find.

A 55,000-metre diamond drill campaign finished late last year has confirmed the project’s potential with all but five out of the 195 holes drilled in the original 5 sq. km claim hitting mineralization.

The project’s geology consists largely of Cretaceous-aged red sandstone, which has been bleached white and yellow through contact with highly mineralized material.

Examining core at the company’s storage site in the small town of Betanzos, Zhang tells visitors that the grades depend on the density of the fractures in the brittle host rock.

In some parts, where the sandstone has fragmented into breccia, the grades can reach as high as 3,000 grams silver per tonne in limited intervals.

But pushing its way through the sandstone, the mineralizing fluids ran into a layer of impermeable mudstone and siltstone that covers most of the district, which forced the alteration outwards.

Seeing the area’s geology, New Pacific Metals advisor Peter Megaw — who helped discover Fresnillo and MAG Silver’s new Juanicipio silver-gold mine in Mexico — urged the team at New Pacific to radically expand its land package at Silver Sand to see just how far the mineralization had spread.

It was advice they took.

In January, after months of careful negotiation with the authorities in La Paz, the company signed a ground-breaking agreement with Bolivia’s state mining company Comibol, allowing the junior to explore and eventually mine an area covering 57 sq. km around the Silver Sand claim.

The deal is part of a push by the Bolivian government to attract

foreign investment to the mining industry (see “Bolivian gov’t seeks new deal with miners” on Page 3).

New Pacific Metals’ 45-year concession at Silver Sand, known as a “Mining Production Contract,” requires no upfront payment, but the company will have to fulfill investment commitments, including US$6 million in exploration costs during the first five years.

In addition, Comibol will get a 4% royalty on all minerals produced from the concession area.

News of the deal has helped New Pacific Metals’ market capitalization rise to $300 million, or a tenfold increase in its share price in the last three years, even though more than half its 133 million outstanding shares are held by three investors — Silvercorp, Ross Beaty-led Pan American Silver (TSX: PAAS; NASDAQ: PAAS), and Feng himself.

The project’s success will depend to a great extent on fostering good relations with nearby communities.

After the Bolivian wet season, which runs from December to March, the steep slopes of the concession area are lush pastures for llamas bred by local people for

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their meat and wool.

New Pacific Metals has been careful to understand the concerns and needs of their neighbours, and have hired staff who speak the local Quechua language.

This year, the team plans to move its camp from Betanzos to a site in the same district where the project is located to ensure locals benefit from the company’s presence, New Pacific Metals president Gordon Neal says.

With the worst of the rains behind it, the company has now embarked on a second 55,000-metre drill campaign.

Roughly 10,000 metres will be infill drilling in the core area, which Zhang expects will help the company publish the first-ever resource estimate for Silver Sand by year-end.

The team is already thinking through how it could develop an open-pit mine along the brow of the San Cristobal hill near the centre of the original claim. The strip ratio could be as low as 1 to 1, keeping down capital costs.

But the drilling will target nine new targets, most of which are located in the areas covered by the new Comibol agreement.

These are either areas with similar geology to the original Silver Sand claim or with evidence of colonialera mining activity, such as highgrade mineral dumps.

As the project advances, New Pacific Metals has expanded its team, adding project manager David Turner to oversee exploration work, and vice-president of corporate development Robert Cinits, who will examine opportunities.

There is no shortage of potential exploration plays in the country, some with similar geologies to Silver Sand.

But New Pacific’s success has attracted more companies to look again at Bolivia, and Comibol is in talks with several over deals that could be signed in the coming months.

As well as changing attitude among foreign investors, the Silver Sand project is encouraging Bolivian geologists to re-examine the rocks around them. A presenter of a paper at a recent geological conference highlighted the potential of Bolivia’s Cretaceous-aged sandstone for silver mineralization based largely on New Pacific’s drill results.

— Based in Santiago, Chile, Tom Azzopardi is a freelance business journalist specializing in the resource sector.

2019-05-21 6:06 PM

SOUTH AMERICA

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 27–JUNE 9, 2019

11

SOUTH AMERICA SNAPSHOT Eight companies advancing assets With its vast mineral potential and pro-mining business environment, South America has long been a home away from home for North American-listed mineral explorers, developers and miners. Here is a look at eight such companies that are active at gold projects and mines.

AURANIA RESOURCES Toronto-based Aurania Resources (TSXV: ARU; US-OTC: AUIAF) is exploring for gold at its Lost Cities project in southeastern Ecuador in the Cordillera del Cutucu region, which is contiguous with the Cordillera del Condor. The Cutucu forms part of the Northern Andean Jurassic metallogenic belt, which contains clusters of porphyry copper, gold-copper skarn and epithermal gold deposits.

In an update in early May, Aurania reported that its first scout drilling program at Crunchy Hill on the property indicates an epithermal gold-silver system and epithermalrelated alteration, though no significant vein systems were intersected.

Corporately, developments this year include: Aurania entering an agreement with Aurania chairman and CEO Keith Barron, providing for an unsecured loan of up to US$3 million (not convertible into Aurania shares); Barron turning a 2018 convertible debenture into 877,192 common shares, and extending the maturity date of a 2017 promissory note to May 29,

2020; Aurania finishing a rights offering for gross proceeds of $5.3 million from 1.95 million shares issued; and Aurania paying US$2 million to the Ecuador government to renew its 42 mineral concessions.

The junior notes that its reconnaissance exploration program is 40% complete, with seven dedicated teams, and access agreements signed with 67% of the communities located within the project area.

CONTINENTAL GOLD Toronto-based, Ari Sussman-led Continental Gold (TSX: CNL; USOTC: CGOOF) describes itself as “the most advanced, large-scale gold mining company in Colombia,” as it develops its wholly owned Buritica gold mine project in Antioquia for scheduled production in 2020.

Miners at Buritica will soon tap into reserves of 13.7 million tonnes grading 8.4 grams gold per tonne, or 3.7 million oz. gold. A recently updated resource estimate tallied 16 million measured and indicated tonnes grading 10.32 grams gold per tonne, or 5.32 million oz. gold, plus 21.9 million tonnes at 8.56 grams gold for 6.02 million oz. gold.

Continental says Buritica is a “rare combination of size, grade, straightforward metallurgy, excellent infrastructure, and growth potential,” and that according to an updated technical report released in March 19, Buritica “will be a

lowest-quartile cost producer and an economically robust mine,” with the “potential to approximately double the formal production of gold in Colombia, and become the largest single gold mine in the country.”

GOLDEN ARROW RESOURCES Golden Arrow Resources (TSXV: GRG; US-OTC: GARWF), part of the Vancouver-based Grosso Group, owns a 25% share of Puna Operations Inc., a joint venture with SSR Mining that owns the Chinchillas open-pit silver-lead-zinc mine in Argentina. Golden Arrow discovered the Chinchillas deposit and delineated it between 2012 and 2015, and the partners put it into commercial production on Dec. 1 2018.

In the first quarter of 2019, Chinchillas produced 2.4 million oz. silver, 6.8 million lb. lead and 1.6 million lb. zinc. Mineralized material processed during the quarter contained an average grade of 235 grams silver per tonne, and silver recoveries reached 91.7%.

In addition to Puna Operations, Golden Arrow has a portfolio of more than 2,000 sq. km of properties in Argentina, including Antofalla, Don Bosco, Caballos, Mogote, Pescado and Potrerillos.

In July 2016, it signed an option agreement for the Antofalla silver-gold-base metal property in Catamarca province. It says Antofalla has geological similarities

A MID-TIER GOLD PRODUCER FOCUSED ON LATIN AMERICA

Gran Colombia Gold’s Segovia gold mine in Colombia. GRAN COLOMBIA GOLD to Chinchillas.

It also has two Chilean projects in proximity: the Indiana gold-copper project and the Atlantida coppergold project. Indiana is 40 km north of the city of Copiapo, 1,470 metres above sea level, and has an inferred resource of 3.1 million tonnes at 2.8 grams gold per tonne and 1.6% copper. Atlantida is 60 km northeast of Copiapo at 1,700 metres above sea level, and has a historical resource of 427 million tonnes at 0.20% copper and 0.34 gram gold, based on a drill database of 29,000 metres.

In March 2019, Golden Arrow raised $4.7 million in a private placement at 30¢ per unit that will help working capital.

GRAN COLOMBIA GOLD Toronto-based, mid-tier gold miner Gran Colombia Gold (TSX: GCM; US-OTC: TPRFF) is Colombia’s largest underground gold and silver producer, with several mines operating at its Segovia and Marmato operations.

Gran Colombia says it is “continuing

to focus on exploration, expansion and modernization activities at its high-grade Segovia operations.”

The company produced 218,000 oz. gold in 2018, up 25% over 2017, and entered 2019 on strong note, with record quarterly gold production of 60,601 oz. gold leading to new highs for revenue and adjusted earnings before interest, taxes, depreciation and amortization.

Gran Colombia’s cash position at the end of March 2019 was US$40.2 million, up US$4.6 million since the end of 2018, and it continued to pay down its Gold Notes, which have a US$78.5-million aggregate principal amount outstanding.

Gran Colombia executive chairman Serafino Iacono said in a release that the firm’s technical studies at the Marmato project “are gaining momentum, and we remain on track to complete a preliminary economic assessment later this year. With another 20,472 oz. gold produced in April, our second quarter is picking up right where we left off in March.”

See SNAPSHOT / 14

Leagold owns and operates four gold mines and two development projects in Mexico and Brazil. n Four

operating mines will produce 380,000 to 420,000 oz of gold in 2019 at all-in sustaining costs of $920 to $970 per oz

n Two

fully funded growth projects – the expansion of Los Filos and restart of Santa Luz – provide a path to 600,000-700,000 oz of gold production per year

www.leagold.com TSX: LMC

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2019-05-21 6:07 PM

12

SOUTH AMERICA

MAY 27–JUNE 9, 2019 / THE NORTHERN MINER

WWW.NORTHERNMINER.COM

Equinox Gold pours first gold at Aurizona in Brazil EQUINOX From 9

positively, which is nice to see,” Christian Milau, Equinox’s president and CEO, told analysts and investors on the conference call.

“Now we just need to make sure the guys that are mining it dig it out with as minimal dilution as possible. But we’re pleased that we’ve got that startup material there.

We’ll be into the dry season in the next month or so ... we had a good head-start on that.”

The company says it can turn Aurizona into a larger-scale operation by adding an underground component. The company has doubled the underground resource, become more confident about its potential, and plans to continue drilling. “We’ve done a PEA study internally on this, and we brought it up to over 1 million oz.,” Milau said. “We want to make this bigger.”

“From my standpoint, that is the real home run at Aurizona,” Beaty said. “Getting an underground mine that will produce in conjunction with an open-pit mine and double the capacity of Aurizona.”

In March, Equinox increased Aurizona’s underground inferred resources 115% to 16.5 million tonnes grading 1.98 grams gold for 1.05 million oz. gold. The underground indicated resource stands at 7.32 million tonnes grading 1.96 grams gold for 459,907 contained oz. gold.

The updated resource estimate, which incorporated 13,635 metres of drilling since the feasibility study was released in July 2017, also boosted the open-pit resource for the Piaba and Boa Esperanca pits.

In addition to 970,000 oz. gold reserves grading 1.52 grams gold, measured and indicated resources now weigh in at 5.47 million tonnes averaging 1.32 grams gold for 231,869 oz. gold, with inferred of 460,000 tonnes grading 1.88 grams gold for 27,808 oz. gold.

“The thing I love about Aurizona, really, more than anything,” Beaty noted, “is it’s not just a seven-year mine life that we have right now modelled in our feasibility study ... I’m convinced, when we get it running, and running at a sustainable basis as per the feasibility study, which should happen very soon, we will add Tatajuba, Piaba North, Piaba East, all kinds of other exploration drivers will come in with the reserves, and will be able to feed into the open-pit operation, extending the seven-year life a long time. I don’t know how long, 20, 30 years, something like that is my guess.”

Beaty said that 200 holes were

drilled by previous operators below the open pit, and every hole hit what appeared to be economic widths of 2 grams per tonne over 10 to 20 metres — “astonishing numbers.”

“It just looked beautiful,” he continued. “Just exactly the kind of orientation you want to have for a large-tonnage, bulk-mineable, low-cost underground mine.”

“We haven’t done any real studies, but I just see the potential is there for a long-life operation at Aurizona spanning decades, and that’s kind of what we’re planning for, and what all of our organization and construction decisions have been founded upon.”

In the meantime, Equinox has improved its balance sheet with a US$130-million strategic investment in April with Mubadala Investment Co., the government of Abu Dhabi’s sovereign wealth fund. The group’s US$225-billion portfolio includes investments in aerospace, semiconductors, metals and mining, renewable energy, oil and gas, petrochemicals, utilities, healthcare, real estate, defence, pharma and agribusiness, as well as financial holdings.

Under the agreement with Equinox, Mubadala bought US$130 million in five-year convertible notes with a 5% interest rate convertible at US$1.05 per share, a 25% premium to Equinox’s 10-day, volume-weighted average share price. If the notes are converted, Mubadala would get 123.8 million shares, or 18% of Equinox’s outstanding shares. Mubadala has also appointed a nominee to the board of directors and has standard anti-dilution rights.

The deal lowers Equinox’s borrowing costs and boosts its financial flexibility by deferring principal payments for up to five years. Of the total proceeds of US$130 million, US$120 million was available at closing and used to repay in full the US$85-million Aurizona construction facility and the US$20-million Mesquite acquisition facility provided by Sprott Private Resource Lending, and end the associated Aurizona production-linked payment obligation to Sprott.

“The Mubadala guys were kind enough to come along and spot an opportunity to really partner up with us and they said, ‘We can take out that Sprott debt effectively,’ and now we’ve got a 5% coupon piece of debt that has basically replaced a 10% coupon, so we’ve been able to cut that coupon in half,” Milau said.

The strategic investment also frees up the capital structure, helping the company move funds

The crusher at Equinox Gold’s Aurizona gold mine in northeast Brazil. EQUINOX GOLD

“WE’RE NOT INTERESTED IN GROWTH FOR GROWTH’S SAKE — JUST TO GET BIGGER IS NOT THE OBJECTIVE. IT’S TO GET BIGGER AND BETTER AND MORE PROFITABLE.” ROSS BEATY CHAIRMAN, EQUINOX GOLD

between all of its sites. “We have the ability to do hedging, bonding, anything we need to do within a normal capital structure for a midsized company,” Milau continued.

“Previously, in the first quarter, basically we had siloed financing for Aurizona and siloed financing for Mesquite — you couldn’t move things between — you had different sets of lenders and competing interests. Now we have aligned interest. Mubadala is sitting at the top level with us, very aligned at growing the company and supporting us as we grow.”

In addition to Mubadala, Equinox has several high-net worth individuals in the stock, including mining tycoon Lukas Lundin and Richard Warke.

In 2005, Warke founded the Augusta Group, whose assets were to include Arizona Mining, Ventana Gold and Augusta Resource. Warke sold Ventana Gold in 2011 for $1.6

billion, Augusta Resource in 2014 for $670 million and Arizona Mining last year for $2.1 billion.

“It’s a fantastic shareholder base,” Beaty said. Combined with Mubadala, Equinox has “tremendous” financing capacity, should it need it to “buy or grow, or do whatever our future holds.”

Elsewhere in South America, Equinox owns 40% of Solaris Copper, which Equinox spun out as a private company in August 2018.

(Equinox shareholders received 60% of the new company.) Its principal asset is the Warintza copperporphyry in Ecuador.

“The goal here was to put the copper assets into a separate vehicle and allow them to ultimately get their own valuation in due time, as we delivered on these assets,” Milau said. “No one was buying Equinox stock to buy these copper assets at this earlier speculative stage, but now there’s a real interest ... we

said we’d take the company public again as soon as possible.”

Beaty said the company still has work to do to get both Aurizona and Mesquite “running like a top” and making a construction decision on Castle Mountain, and ensuring it is running well before talking about where the company plans to go next. In addition, he says, Equinox has “got so much opportunity with our existing assets alone that we really don’t need to look at anything else for the time being.”

But when that moment arrives, management will be “very opportunistic,” and look for the kind of logic and synergies it got with Castle Mountain, when it acquired the Mesquite mine. “That’s the kind of deal we’d like to do again if the right one comes by from the sea of opportunities out there, most of which we would not even look at, let alone do any due diligence on,” Beaty said.

“We’re not interested in growth for growth’s sake — just to get bigger is not the objective. It’s to get bigger and better, and more profitable ... You’ve got to have a value proposition that informs every single deal you do. If you do have a logical plan, and it really is a one and one is three, you should be doing it.” TNM

A LEADING HIGH-GRADE UNDERGROUND GOLD PRODUCER WITH PRIMARY FOCUS IN COLOMBIA

218,000 OZS in 2018 New record of 60,600 ozs in 1st Quarter 2019

TSX: GCM

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www.grancolombiagold.com

OTCQX: TPRFF

2019-05-21 6:07 PM

SOUTH AMERICA

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 27–JUNE 9, 2019

13

Workers in Codelco’s Ventanas copper foundry and refinery in central Chile’s Valparaiso region. CODELCO

Chile’s claims conundrum REGULATION

BY TOM AZZOPARDI

R

Special to The Northern Miner SANTIAGO, CHILE

ules which once helped turn Chile into a mining powerhouse have become a weight around its neck.

Chile’s place as the world’s largest copper producer looks assured.

Production last year hit a record 5.8 million tonnes, or 29% of global mine output, and almost double its nearest rival, Peru.

Mining companies are readying projects worth US$65 billion, which could lift production to over 7 million tonnes by the end of the next decade, according to Chilean government estimates.

But further ahead, many worry that the mineral exploration needed to discover the next generation of Escondidas and Collahuasis is not taking place.

The issue was a major talking point at the World Exploration Forum in Santiago last April.

Last year, according to data compiled by S&P Global, Chile attracted US$576 million of spending on mineral exploration. That put it in sixth place globally behind not only Australia and Canada, but also regional rivals like Mexico and Peru.

But concerningly, analysis by the Chilean Copper Commission, a government body, of the S&P Global data found that major mining companies accounted for 89% of expenses.

In fact, major mining companies spent more on mineral exploration in Chile than other country, except Canada.

But most of this is spent on brownfield exploration around existing mines, not for new projects.

In Canada — which spends almost three times more on exploration — more than half the work is carried out by junior mining companies.

The same in Australia. The same figure in Chile was just 5%.

And the situation is getting worse.

Last year, junior exploration spending in Chile fell more than half to just US$25 million, compared to over US$700 million in Canada.

“Helping juniors raise financing for projects in Chile used to be an everyday occurrence. Today I see very few,” said Rony Zimmerman of Santiago law firm Bofill Mir & Alvarez Jana.

For many, the problem lies with Chile’s peculiar system of mine property.

1-16MAY27_Main .indd 13

| Analysis suggests staked land has seen little to no exploration

Designed to tempt back foreign investors after the nationalization of U.S.-owned copper mines, Chile’s 1983 Mining Code allowed individuals to stake huge areas of grounds almost indefinitely without work commitments, and at minimal cost.

Protected as private property under the constitution, the system offered foreign companies a castiron, legal certainty that no future government would ever again strip away the mineral wealth they had discovered.

Huge investment followed, developing several of the world’s largest copper mines in little more than a decade. By 2005, copper production had quadrupled to over 5 million tonnes a year.

But offering investors such rigid guarantees has come at a price.

Over the past three decades, individuals and companies have carpeted almost all of northern Chile with claims. Low claims fees and the lack of investment requirements meant the owners have very little incentive to sell up.

Much of the property is tightly

held, with just 10 companies accounting for more than half.

“Most prospective areas are fully staked,” said Antony Amberg, president and CEO of Los Andes Copper (TSXV: LA).

The situation is complicated by red tape from the court-based system, and a lack of accurate information about who owns what.

Analysis suggests much of the staked land has seen little to no exploration, which limits the chances of finding the next Chuquicamata or Escondida.

It is not just Chile’s claims system that hamstrings exploration.

Public investment in basic geology is low.

“For our Vizcachitas project, there is only a 1:250,000 scale geological map, and that was published in 1982. For exploration in that area, it is useless,” Amberg noted.

Two years ago, the government finally acquired powers to force companies to share exploration results with the state, but only after the results of decades of work had been lost.

And despite Santiago’s financial

prowess, the country lacks an active capital market for mining projects.

Some progress has been made. The country now has its own system of qualified persons, who can sign off on geological reports, private placements are now allowed, and juniors listed in Toronto can automatically list their shares on the Santiago Stock Exchange.

But these advances do not yet add up to a working mining market. Of the 12 juniors listed in Santiago, just two have projects in Chile, and none is widely traded.

Determined to regain Chile’s position as a top jurisdiction for mining investment, the country’s government is looking again to revitalize the exploration sector.

Speaking at the forum, Mining Undersecretary Pablo Terrazas said that the government is working to promote Chile’s geological potential to investors, and plans to unveil financial instruments to support mineral exploration by mid-year.

But such efforts will only pay off if more ground is available.

Attempts to reform the law have gone nowhere — squashed by op-

position from the mining industry itself. Without a majority in Congress, the administration led by President Sebastian Pinera is even more reluctant, fearful the more radical lawmakers who hold the balance of power could seek more drastic change.

Instead, the Mining Ministry hopes to pressure mining companies into giving up some of its claims to new entrants.

In December, it celebrated an unprecedented deal between 13 mining companies — including subsidiaries of Kinross Gold (TSX: K; NYSE: KGC), Lundin Mining (TSX: LUN) and Teck Resources (TSX: TECK.B; NYSE: TECK) — to allow smaller firms to rent land at minimal cost.

Speaking at the forum, mining lawyer Marcelo Olivares said that given the difficulties of completely overhauling the system, the best critics could hope for is marginal improvement.

— Based in Santiago, Chile, Tom Azzopardi is a freelance writer specializing in the resource sector.

•

ConstruCtion AnD Mining serviCes

2019-05-21 6:07 PM

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MAY 27–JUNE 9, 2019 / THE NORTHERN MINER

SOUTH AMERICA

WWW.NORTHERNMINER.COM

Columbus Gold broadens footprint in French Guiana GOLD

BY TRISH SAYWELL

C

tsaywell@northernminer.com

olumbus Gold (TSX: CGT; US-OTC: CGTFF) wants to become a dominant player in the fledgling gold mining industry in French Guiana, an overseas department of France on the northeast coast of South America, which is made up mainly of tropical rainforest.

The junior and its Russian partner, Nordgold, already own 44.9% and 55.01% of the Montagne d’Or gold deposit in northwestern French Guiana, where they are moving forward with permitting and development.

But they’re looking to expand their footprint, and, as part of that strategy, Columbus entered into an agreement in August 2018 to acquire up to a 70% stake in Iamgold’s (TSX: IMG; NYSE: IAG) Maripa gold project in eastern French Guiana, 50 km south of the capital city of Cayenne.

Maripa consists of five contiguous exploration permits spanning 120 square kilometres.

Columbus signed a letter of intent in April to acquire an exploration permit on a third project, although the company doesn’t specify its exact location, stating in a press release that it “covers the core of one of the most prominent placer gold mining districts in French Guiana, which is exposed to illegal artisanal hard rock mining of high-grade quartzgold veins.”

After a preliminary geological evaluation of the area, Columbus says that “an important shear-tension vein system exposed by mine workings was prospected over a lat-

| Moves forward with permitting at flagship Montagne d’Or project

eral distance of 1.6 km,” and “quartz vein material sampled on the dumps of workings returned [the] best gold values of 13.10, 24.35, 67.40, 96.25 and 160 grams gold per tonne.”

At Maripa, Iamgold drilled 106 drill holes on the property between 2000 and 2006. Exploration focused on five large targets around gold geochemical anomalies: Changement, Filon Dron, Maripa Sud-Est, Rhyodacite and Filon Scieur.

The best historic intercepts include 36 metres of 4.3 grams gold per tonne; 11 metres of 12.4 grams gold; 35 metres of 1.8 grams gold; 26 metres of 2.5 grams gold and 22 metres of 2.2 grams gold.

While first-pass drilling of the targets was limited to shallow depths that averaged 67 metres within the oxidized saprolite, Columbus says, all five targets “returned drill intersections of economic interest, with demonstrated potential for expansion and mineral resource delineation.” In addition, the company says, several large gold geochemical anomalies on the property remain untested.

Exploration began in April. The work program will include a detailed interpretation of the five partly drilled gold zones, as well as more regional data. This year’s work program will consist of core reclogging and drill hole database validation, as well as geological mapping and field validation. The company also plans to conduct a 256 sq. km airborne geophysical survey at 100-metre line spacing. In addition, Columbus will process and merge its 2018 LiDAR topographic and airborne magnetic

Core storage at Columbus Gold’s Montagne d’Or gold project in northwestern French Guiana. COLUMBUS GOLD

data and undertake infill and stepout drilling.

Maripa is situated along the southern border of a regional deformation zone known as the Northern Guiana Trough, which can be traced across northern French Guiana into neighbouring Suriname, where Iamgold operates its Rosebel gold mine.

Columbus says Maripa’s geological setting is similar to Rosebel.

Under its option agreement, Columbus can acquire a 50% interest by spending US$5 million and finishing an internal scoping study within five years.

At that point, if Iamgold doesn’t want to participate in a fifty-fifty joint venture, Columbus can earn another 20% stake by completing a preliminary feasibility study over another three years. Under that circumstance, the project would be a 70:30 joint venture.

For now, Columbus is pinning its hope on its flagship Montagne d’Or project, which has an estimated

3.85 million oz. gold in 85.1 million measured and indicated tonnes grading 1.41 grams gold per tonne, and another 960,000 contained oz. gold within 20.2 million inferred tonnes grading 1.48 grams gold.

A bankable feasibility study in 2017 envisions an open-pit mine producing 214,000 oz. gold a year at total cash costs of US$666 per oz., and all-in sustaining costs of US$779 per ounce.

In November 2018, Columbus announced that it had told the French authorities it intended to move forward with permitting and development of the project. The decision signalled Columbus’ intention to modify the project after public hearings.

The company has agreed to make several changes, including producing energy on-site to eliminate environmental impacts from connecting to the local power grid and building a 106 km aerial power line. This modification would remove the risk

of power-supply disruptions to the Guyanese population. Columbus has also agreed to prioritize renewable energy, particularly solar panels, on already deforested land.

Columbus also agreed to commit to the International Cyanide Management Code and look for alternative gold-extraction methods.

Other recommendations include reducing the size of waste dumps; increasing the surface area of the tailings storage facility and lowering the retainment dams; sourcing less material from quarries outside the mine site; and mitigating the transportation of explosives on public roads.

In January, Nordgold, Columbus’ joint-venture partner on the project, increased its stake in the Canadian junior to 9.96% on a non-diluted basis, and 11.18% if it were to exercise all of its warrants.

Nordgold is owned by Russia’s Alexey Mordashov, who is worth an estimated US$18 billion. Mordashov created Nordgold by spinning off the gold-mining assets of Russian steel giant Severstal in 2012. Since then he has quietly picked up stakes in Canadian mining companies.

In October 2016, Nordgold acquired all of the shares of Northquest that it did not already own, taking possession of the junior’s Pistol Bay gold project in the Arctic. This acquisition followed Nordgold’s purchase of Canada’s High River Gold Mines.

Columbus is trading at 18¢ per share in a 52-week range of 16¢ to 32¢. The company has a $30-million market capitalization. TNM

SOUTH AMERICA SNAPSHOT SNAPSHOT From 11 LEAGOLD MINING Vancouver-based Leagold Mining (TSX: LMC; US-OTC: LMCNF) owns the Los Filos mine complex in Mexico, and the RDM, Fazenda and Pilar mines in Brazil, with consolidated production in 2018 reaching 302,550 oz. gold at all-in sustaining costs of US$974 per oz. gold.

This year, Leagold forecasts production of between 380,000 and 420,000 oz. gold at AISCs of between US$920 and US$970 per oz. gold.

Breaking down its 2019 guidance, the Los Filos mine complex — which has two open-pit mines (Los Filos and Bermejal), and an underground mine (Los Filos) — could produce 200,000 to 220,000 oz. gold.

RDM, an open-pit mine, is expected to produce between 72,000 and 80,000 oz. gold; Fazenda, an underground mine, between 63,000 and 70,000 oz. gold; and the Pilar mine, a complex of underground mines, 45,000 to 50,000 oz. gold.

Leagold acquired the Los Filos complex, 180 km south of Mexico City, in 2017, and its three Brazilian mines in May 2018.

RDM is 560 km north of the state capital of Belo Horizonte in Minas Gerais state. Fazenda is in Bahia state, 180 km northwest of the state

1-16MAY27_Main .indd 14

capital of Salvador, and Pilar, in Goias state, is 320 km from Brasilia.

Leagold completed a feasibility study on expanding the Los Filos mine in March 2019, and outlined the potential to increase gold production to more than 400,000 oz. gold a year. Expansion opportunities include developing the Bermejal underground mine, expanding the Los Filos open-pit mine, rephasing the Bermejal open pit into two sections (Bermejal and Guadalupe), and building a 4,000-tonne-per-day, carbon-inleach plant.

In May 2019, Leagold got a commitment from a syndicate of lenders for a US$200-million term loan and a US$200-million revolving credit facility. The loans will help repay debt and finance growth through the phased expansion of the Los Filos mine and construction of the Santa Luz project, without having to tap the equity markets.

MERIDIAN MINING Brazil-focused junior Meridian Mining (TSXV: MNO; US-OTC: MRRDF) is producing manganese at its Espigao do Oeste project site in the state of Rondonia in northwestern Brazil.

The company got a trial production licence in September 2018 that allows the extraction of 6,000 tonnes of manganese oxide concentrate per year from its exploration licences.

Manganese oxides are hosted in

colluvial and saprolite horizons.

The mineralization is freely dug, pre-concentrated at the site and processed using gravity separation.

No drilling, blasting or chemical beneficiation is required.

Three hundred kilometres north of Espigao do Oeste, Meridian is evaluating prospects for processing tin from tailings at the Bom Futuro mine in the Ariquemes tin district.

Mineralization was discovered at Bom Futuro in 1987, and since then mining operations have generated 192,000 tonnes of tin. Meridian is evaluating tailings reprocessing scenarios in allocated areas. The company has access to more than 8.8 sq. km of tailings for reprocessing.

The company notes that over the last few years, local cooperatives have reprocessed tailings associated with historic production, and have generated nearly 7,000 tonnes of since 2010.

In January 2019, Meridian increased a loan facility from Sentient Global Resources Funds IV from US$1.5 million to US$3 million. The loan bears a 10% interest rate and matures on March 31, 2020.

NEW ENERGY METALS From its base in Vancouver, New Energy Metals (TSXV: ENRG; US-OTC: NEMCF) is focused on exploring and developing energy metals in Chile. Its assets include the Cristal copper project in northern Chile’s Atacama region

and several prospective cobalt projects in the country’s pastproducing San Juan cobalt district.

The Cristal copper project, located near the port city of Arica, next to the Peruvian border, has not seen exploration since BHP Billiton saw the property under an option agreement in 2012.

Before that, various companies explored the area during the 1990s.

Now Energy Metals wants to follow up on initial exploration work that included airborne magnetics, gravity EM studies and limited drilling, and focus on an area where a large geophysical anomaly several kilometres wide was identified. It plans to drill four to six holes to test the principal target in a US$1 million to US$1.5 million drill program. The company says the anomaly measures several kilometres across, and shows a weak magnetic high surrounded by a magnetic low, which could indicate a buried copper porphyry system.

In February 2019, the company announced a private placement of up to 6.7 million units at 7.5¢ per unit, for proceeds of $500,000. The funds will help exploration and development.

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 Mexico, Bolivar produces copper, silver and gold, while the smaller Cusi produces silver, lead, gold and zinc. Both are underground mines.

In 2018, on a consolidated basis, Sierra Metals produced 2.7 million oz. silver (a 17% increase from 2017), 34 million lb. copper (27% increase), 76.8 million lb. zinc (1% increase), 27.7 million lb. lead (7% decrease) and 7,743 oz. gold (25% increase). Full-year financial results are available soon.

In the first quarter of 2019, they reported revenue of US$49.2 million and adjusted earnings before interest, tax, depreciation and amortization of US$12 million on throughput of 568,401 tonnes and metal production of 4 million equivalent oz. silver, or 21.8 million equivalent lb. copper, or 50.6 million equivalent lb. zinc.

The company says its “has continued to be successful in maintaining positive operating cash-flow generation from its existing operations in order to reduce debt levels, fund required capital expenditures, and maintain liquidity.” TNM

2019-05-21 6:07 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 27–JUNE 9, 2019

15

Pouring bars at Norilsk Nickel’s Krastsvetmet platinum group metals refinery in Russia. NORILSK NICKEL

Palladium to outshine platinum in 2019: Metals Focus METALS COMMENTARY The following is an edited release by London-based consultancy Metals Focus upon the publication of “Platinum & Palladium Focus 2019,” its flagship annual report on the platinum group metals (PGM) market, which features comprehensive historical supply and demand statistics for 2010–2018, and a detailed 2019 forecast. For more information or to buy a copy, visit www.metalsfocus.com.

P

alladium is forecast to once again outperform platinum in 2019.

Divergent trends in platinum and palladium’s fundamentals continued in 2018, and could persist this year and beyond. Platinum recorded a surplus last year of 349,000 oz.

(11 tonnes), while palladium saw another hefty deficit of 821,000 oz.

(26 tonnes). These impacted investor sentiment, helping drive palladium’s outperformance of the platinum price.

While more recent price developments may suggest a reversal, we believe these moves are driven by speculative forces and are likely short-lived.

Our 2019 forecasts see platinum

| Platinum recorded surplus in 2018, while palladium saw another ‘hefty’ deficit

realize a surplus of 630,000 oz. (20 tonnes), and palladium a deficit of 574,000 oz. (18 tonnes). Platinum above-ground stocks are forecast to continue rising to 9.7 million oz.

(302 tonnes) at year-end, against 6.9 million oz. (215 tonnes) at the start of this decade. Palladium stocks, by contrast, have enjoyed near uninterrupted losses, from 17.7 million oz.

(550 tonnes) at the end of 2010 to a 2019 forecast of 12.9 million oz.

(400 tonnes).

AUTOCATALYST DEMAND FOR PALLADIUM IS FORECAST TO RISE 3.6% IN 2019 TO A RECORD HIGH OF 8.59 MILLION OZ., DRIVEN BY THE IMPACT OF TIGHTER EMISSIONS STANDARDS ON PGM LOADINGS, AND AN INCREASED MARKET SHARE FOR GASOLINE VEHICLES IN EUROPE.

Platinum Looking at the key areas of supply/demand, platinum autocatalyst demand could post its third year of losses (2%), due to further weakness in the key diesel market in Europe and the lack of any substitution to platinum.

The scale of the drop in 2019 is expected to be smaller than in 2018, due to concerns over meeting emissions legislation, and also because of gains in heavy duty diesel.

Turning to jewellery, this will see a 3% year-over-year drop, led by a sharp fall in China. Physical investment is slated to ease 15% yearover-year, but this compares with a

strong 2018 total, while industrial offtake should rise 4%. As such, we forecast total platinum demand to drop for a fourth year, by 1.2% to 7.70 million oz. (239 tonnes).

On the supply side, mine output could rise 3% in 2019, chiefly due to strong gains in South Africa (helped by a weaker rand, and somewhat lower cost inflation).

Concerning our platinum price forecast, investor sentiment towards the metal appears less bearish compared to 2018. This, coupled with our constructive view towards gold, could deliver a further recovery in platinum price later this year. However, unsupportive fundamentals

will still weigh on platinum, which explains our forecast of a 1% dip for platinum’s annual average this year to US$875 per ounce.

Palladium Switching to palladium, autocatalyst demand is forecast to rise 3.6% in 2019 to a record high of 8.59 million oz. (267 tonnes), driven by the impact of tighter emissions standards on PGM loadings (in most regions), and an increased market share for gasoline vehicles in Europe.

In addition, growing consumer preferences for larger vehicles in most markets, in particular in the U.S., also puts upward pressure on

loadings. Finally, demand will be supported by the current absence of substitution within gasoline to platinum, while concerns over rhodium could, for some models, lead to a partial switch in favour of palladium.

Palladium supply could increase 4% to 10.11 million oz. (314 tonnes), led by a 5% increase in mine supply to 7.17 million oz. (223 tonnes).

Most key producing countries would likely see higher output, which offsets losses in Canada.

Recycling is also expected to post a 3% rise to 2.94 million oz. (91 tonnes), chiefly owing to a new high from spent autocatalyst recycling.

In spite of short-term headwinds — such as lacklustre car sales in China and the U.S., and concerns over the potential for substitution losses in light vehicles — we expect palladium to realize a physical deficit for the future.

As such, for 2019, Metals Focus believes that professional investors will eventually return to palladium, with prices forecast to surge 45% year-over-year to an annual average of US$1,490 per oz. in 2019. TNM

A traffic jam near Stuttgart, Germany. ISTOCK/ MOOREFAM

1-16MAY27_Main .indd 15

2019-05-21 6:07 PM

16

WWW.NORTHERNMINER.COM

MAY 27–JUNE 9, 2019 / THE NORTHERN MINER

Uranium markets starting to improve, Cameco’s Gitzel says METALS COMMENTARY

| McArthur River/Key Lake operations to stay suspended until uranium prices improve

The following is a transcript of remarks made by Cameco (TSX: CCO; NYSE: CCJ) president and CEO Tim Gitzel during the company’s first-quarter conference call on May 1 on the topic of uranium markets and Cameco’s production strategy.

In the first quarter, Cameco had an adjusted net loss of $33 million on uranium mining revenues of $207 million, and fuel service revenues of $83 million.

I

n the uranium market, fundamentally, it’s better than it was a year ago. From 30,000 feet, 2018 was a pivotal year for the uranium market. Why do I say that?

It’s because from a demand point of view, consumption has returned to pre-2011 levels. We have now filled in the pothole of lost demand, and that demand continues to grow.

There are more than 50 nuclear reactors under construction (worldwide), and as each one of these reactors gets turned on, it represents net new demand.

In China alone — the fastest growing nuclear energy market in the world — there are 45 reactors operating and 11 units under construction. And it just approved construction of two new reactor complexes, implementing the domestic Chinese Hualong One reactor technology — the Dragon, as they call it — for the first new build approved in over three years.

CNNC chairman, Mr. Yu, indicated recently that China expects to be able to build six to eight reactors each year if the project approval process returns to normal, which would allow it to meet its 2030 target of 120 gigawatts. In addition, we’re beginning to see a number of other countries and organizations come up with some very positive policy messages.

There’s growing recognition of the role nuclear power must play in ensuring safe, reliable and affordable electricity, while tackling climate change and air-quality issues.

Recently in the U.S., a bipartisan group of senators reintroduced legislation Bill 903 — the Nuclear Energy Leadership Act, or NELA, as it’s called.

The bill is aimed at boosting U.S. nuclear energy innovation and ensuring advanced reactors can provide safe, affordable and reliable electricity. In addition, the U.S. Secretary of Energy Rick Perry announced the US$3.7-billion loan guarantee to support completion of the two reactors under construction in the United States.

He indicated that the Vogtle project (in Georgia) is critically important to the U.S. administration’s direction to revitalize and expand the U.S. nuclear industry, calling it the “real green new deal.”

In New Jersey, the Board of Public Utilities voted to award zero-

“THIS GROWING RECOGNITION OF THE BENEFITS OF NUCLEAR IS NOT NEW — I HAVE SEEN THIS MOVIE TWICE BEFORE.” TIM GITZEL PRESIDENT AND CEO, CAMECO

emission credits to three New Jersey nuclear power plants, and the U.S. Supreme Court said it would not hear an appeal challenging the rights of Illinois and New York to subsidize nuclear power plants.

In India, where they are targeting 12 new reactors, the Secretary of the Department of Atomic Energy recently stated that the Indian government supports nuclear technology as an irreplaceable source of clean energy.

I can tell you this growing recognition of the benefits of nuclear is not new — I have seen this movie twice before.

Nuclear falls out of favour politically in a number of countries that announce they’re going to reduce reliance on, or phase out, nuclear.

Then the world steps back and examines its options for carbon-free, baseload sources of electricity, and realizes the options are limited.

There’s hydro, which is an option for some countries, but not all, and there’s nuclear. And they realize nuclear could provide the power they need, not only reliably, but also safely and affordably, and in a way that avoids emitting greenhouse gases.

There’s no doubt there’s a role for solar and wind, but they aren’t baseload.

Our healthcare, education, communication and transportation systems can’t just “make do” if the sun doesn’t shine and the wind doesn’t blow.

Then consider China and India’s ambitions for increasing the number of electric vehicles on their roads.

I can tell you if they’re powered by carbon-producing sources of electricity, they will be doing more harm than good.

So clean air concerns and climate change aren’t going away. You can look at the news every day and see an increased sense of urgency to limit the temperature increase of the planet. And perhaps that’s what is different this time: it’s that sense of urgency. Even the investment community is concerned. There has been a rise in the focus on environmental, social and governance — or “ESG” issues.

Many pension funds, mutual funds and investment firms are developing strategies to measure and address the impact of these ESG issues within their investment

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1-16MAY27_Main .indd 16

portfolios. Not surprisingly, the business and financial risks associated with climate change are front and centre.

So while the support for nuclear is growing and the demand for nuclear fuel is certain and growing, supply is less certain, and in fact declining.

Over the past several years, we’ve seen meaningful production cuts and reductions in producer inventories, which has led to increased demand for uranium in the spot market from producers and financial players.

With decreasing primary supply as a result of curtailments and the competition for supply in the spot market from producers and financial players, the interest in long-term contracting is once again picking up.

At Cameco, we’re having offmarket conversations with some of our best and largest customers about what it takes to support the operation of our tier-one assets longer term.

These customers are recognizing the risk that over-reliance on finite sources of supply poses to the security of the supply longer term, and they want first-mover advantage.

In light of the market access and trade policy issues affecting our market, they are increasingly looking for stable commercial suppliers with long-lived, tier-one assets and a proven operating track record — and there aren’t many of us.

As a result, you can see in the expected realized price sensitivity table in our management discussion and analysis that our average annual delivery volume over the next five years has increased. The terms of our recent contracting activity remain consistent with our overall portfolio goals.

However, not surprisingly for nearer-term deliveries, there is not much leverage to higher prices because it’s still a buyer’s market.

And while price is an important factor, we also must take into account who the customer is, the volume being contracted, duration, product form and regional diversification. Also, keep in mind that most of our long-term contracts don’t start delivery for two to three years after we sign them.

Overall, including our 2019 deliveries, our total portfolio of sales commitments has increased 25 million lb., with most commitments occurring after 2023, outside the range of the price sensitivity table.

However, while these contracting activities are encouraging, make no mistake, there’s still a long way to go before we restart McArthur River–Key Lake.

The reason I say this is because the list of moving pieces in our industry continues to grow, creating uncertainty, as market participants try to digest the implications of these changing dynamics.

Market access and trade policy are issues that may make the availability of supply where it is needed much less predictable. Of course, the most

Workers in Cameco’s Cigar Lake uranium mine in Saskatchewan. CAMECO

notable of these issues today is the investigation under Section 232 of the Trade Expansion Act in the U.S., which has the largest fleet of nuclear reactors in the world.

On April 14, the Department of Commerce (DOC) issued its confidential report to the U.S. president containing its findings and recommendations. The president now has up to 90 days to decide whether to concur with the DOC findings and what actions, if any, will be taken.

Remember we at Cameco are not a state-owned enterprise, and we were the largest producer in the U.S. before we put those assets on care and maintenance.

If the U.S. is looking for more domestic production, our assets would be among the best and the quickest to start producing.

And, of course, the U.S. will remain dependent on foreign supply to keep its reactors running.

As the largest commercial supplier of uranium, we can help them out there, too, but until the president makes his decision and the potential impact — positive or negative — can be determined, it’s a moving piece affecting our market.

Another recent event that adds some uncertainty is the announcement on March 19 by the thenpresident of Kazakhstan, Nursultan Nazarbayev, that he was stepping down immediately. The Speaker of the Senate Kassym Tokayev assumed the presidency and subsequently called a snap election for June 9, 2019.

I can tell you, with 45% of the world’s uranium supply coming out of Kazakhstan, the leadership transition will be watched closely.

And there’s still the uncertainty created by the May 31 expiry of the collective agreement with unionized employees at the McClean Lake mill, where we send our Cigar Lake ore. With Cigar Lake supplying 18 million lb. uranium — more than 10% of annual consumption — any labour disruption could create a swing in supply.

Then let’s take a look at what happened in the spot market in the first quarter. In late March, we saw motivated spot market selling from a number of market participants. It seems these players had built up a uranium position in anticipation of short-term demand in the market, however, they misread the timing of that demand.

When it didn’t materialize on the timelines they expected, they began to sell material into a very illiquid spot market — also drawing a few

other sellers into the market.

And yet once the market had seemed to find a floor, we issued a request for proposal for 1 million lb. uranium. Despite price signals to the contrary, we found there was not enough material to meet our specifications.

While there’s no doubt we need to buy material this year, let me be clear: we will not be the buyer of last resort.

Therefore, if we see this type of behaviour, our strategy dictates that we step back from our purchasing activity.

There’s a very real possibility we could see this behaviour again.

We’re hearing that one of the Japanese utilities looks to sell a modest amount of its inventory — less than 150,000 lb. per year — for the next several years. While the volumes sound modest and we have not seen a broader shift in Japanese utility behaviour, this selling could impact market sentiment.

If you recall on a previous call, I talked about the perimeters of our strategy. I discussed our behaviour in the scenario where there’s a lot of supply in the spot market.

In this scenario, we’re buying uranium as cheaply as possible to maximize our gross profit, not assist others achieve their profit targets.

So today the market dynamics are changing, due to a lot of moving pieces. However, what isn’t changing is our commitment to our strategy.

It’s a deliberate strategy that allows us to respond to the changing market dynamics, and it puts long-term value ahead of quarterly results.

We are a commercially motivated supplier with a diversified portfolio of assets, including the tier-one production portfolio, which is among the best in the world.

And we have the ability to restart and expand these assets should we see the right signals. Keep in mind, these would be among the first and lowest cost pounds in the market.

We believe we have the best global exploration portfolio and are the only producer in Canada with licensing, permitting and operating experience, and a proven community development track record.

Our decisions are deliberate, driven by the goal of increasing long-term shareholder value. Our goal is to remain competitive and position the company to maintain exposure to the rewards that will come from having low-cost supply to deliver into a strengthening market. TNM

2019-05-21 6:07 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / MAY 27–JUNE 9, 2019

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MAY 27–JUNE 9, 2019 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / MAY 13–17 The S&P/TSX Composite Index rose 0.64%, or 104.20 points, to 16,401.80. The S&P/TSX Global Mining Index increased 0.11 points, or 0.15%, to 71.55, while the S&P/TSX Global Base Metals Index fell 2.75 points, or 2.48%, to 107.96, and the S&P/TSX Global Gold Index climbed 3.96 points, or 2.23%, to 181.21. Spot gold fell US$8.70 per oz., or 0.68%, to finish at US$1,277.10 per oz. gold.

Shares of Barrick Gold were the most heavily traded, and rose 36¢ to $16.45.

Barrick recently unveiled the name of a joint venture with Newmont Goldcorp as “Nevada Gold Mines,” and said it was “a classic case of the whole being more valuable than the sum of its parts.” Nevada Gold Mines will have three Tier One gold mines: Barrick’s Cortez; the combination of Barick ’s Goldstri ke a nd New mont Goldcorp’s Carlin; and Barrick’s Turquoise Ridge with Newmont Goldcorp’s Twin Creeks. Barrick defines a Tier One asset as a mine with a stated life in excess of 10 years, with 2017 production of at least 500,000 oz. gold, and total cash costs per ounce within the bottom half of Wood Mackenzie’s cost-cur ve tools. Barrick ow ns 61.5% a nd New mont Goldcor p, 38.5%, of the joint venture, whose assets produced more than 4 million oz. gold in 2018. Barrick also posted a strong start

in the first quarter, with net cash from operations rising 27%, net earnings per share increasing 106% to 6¢, adjusted net earnings per share rising 83% to 11¢, and debt, net of cash, down 12% to $3.65 billion. The company a lso declared a 4¢-per-share dividend.

Franco Nevada topped the list of value gains with a $4.05-per-share jump to $102.22.

The company reported record revenue and net income in the first quarter of US$179.8 million and US$65.2 million, or 35¢ per share. It also increased its quarterly dividend from 24¢ to 25¢ per share, which marks the twelfth annual dividend increase for shareholders. Geographically, the gold-focused royalty and stream company’s revenue was sourced 81.6% from the Americas — 41.7% TSX MOST ACTIVE ISSUES

Barrick Gold Suncor Energy IAMGOLD Roxgold Kinross Gold First Quantum Champion Iron Lundin Mng Nutrien Turquoise HIl

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

ABX SU IMG ROXG K FM CIA LUN NTR TRQ

20070 16.99 16.15 16.45 + 0.36 15614 43.93 42.21 43.33 + 0.57 14781 3.65 3.16 3.47 + 0.28 14411 0.95 0.88 0.92 + 0.03 13485 4.30 4.11 4.25 + 0.17 13178 12.17 11.50 11.85 - 0.60 12032 2.74 2.18 2.67 + 0.38 11047 6.71 6.09 6.29 - 0.35 10607 68.96 66.48 66.50 - 3.42 9894 1.87 1.65 1.72 - 0.12

from Latin America, 18.3% from the U.S. and 21.6% from Canada.

Roxgold delivered a strong first quarter, with production of 33,652 oz. gold at allin sustaining costs (AISCs) per oz. sold of US$775 per oz. gold. The company mi ned 98,14 0 tonnes a nd achieved a record quarterly throughput of 106,816 tonnes, which exceeded its higher nameplate capacity of 1,100 tonnes per day

by 8%. It anticipates stronger quarters in the second half of the year, owing to stoping operations at its Bagassi South mine. Roxgold expects to produce between 145,000 and 155,000 oz. gold this year at AISCs of between US$765 and US$795 per oz. gold. The company has earmarked an exploration budget for 2019 of US$10 million to US$12 million. Shares gained 3¢ to 92¢. TNM

TSX GREATEST PERCENTAGE CHANGE

General Moly New Milln Iron Goldgroup Mng Century Global Karnalyte Res Marathon Gold EurOmax Res Gran Colombia TMAC Resources Champion Iron First Mg Fin Largo Res Potash Ridge Yorbeau Res Anglo Pac Grp Prophecy Coal Jaguar Mng NorZinc Nickel Creek Atalaya Mining

GMO NML GGA CNT KRN MOZ EOX GCM TMR CIA FF LGO SOP YRB APY PCY JAG NZC NCP AYM

71 1283 1232 3 202 1542 247 1071 599 12032 2082 8256 1780 76 2 1205 823 298 1171 1

0.59 0.08 0.07 0.22 0.24 1.03 0.09 3.85 5.10 2.74 0.32 1.85 0.09 0.03 4.00 0.23 0.10 0.11 0.04 3.61

0.27 0.06 0.05 0.00 0.15 0.85 0.08 3.13 4.28 2.18 0.26 1.45 0.07 0.03 3.20 0.18 0.09 0.10 0.03 3.50

0.56 0.08 0.07 0.22 0.21 1.02 0.09 3.70 5.05 2.67 0.26 1.49 0.07 0.03 3.25 0.19 0.09 0.10 0.04 3.50

TSX GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Franco-Nevada FNV Labrador Iron LIF Newmont Gdcorp NGT Kirkland Lake KL Agnico Eagle AEM TMAC Resources TMR Ero Copper ERO Suncor Energy SU Gran Colombia GCM Pretium Res PVG Nutrien NTR Teck Res TECK.A Teck Res TECK.B Pan Am Silver PAAS Anglo Pac Grp APY First Quantum FM North Am Pall PDL Atalaya Mining AYM HudBay Min HBM Lundin Mng LUN

+ 107.4 + 45.5 + 44.4 + 37.5 + 23.5 + 22.9 + 20.0 + 17.5 + 16.9 + 16.6 - 18.8 - 17.7 - 17.6 - 16.7 - 16.7 - 15.6 - 15.0 - 13.0 - 12.5 - 12.3

VOLUME WEEK (000s) CLOSE CHANGE

2675 102.22 1036 33.13 677 41.69 5205 45.61 4818 55.33 599 5.05 837 17.45 15614 43.33 1071 3.70 1624 10.74 10607 66.50 12 27.52 7162 27.46 1960 14.67 2 3.25 13178 11.85 728 11.30 1 3.50 7169 6.73 11047 6.29

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

4.05 2.45 1.33 1.26 1.14 0.73 0.62 0.57 0.55 0.48 3.42 1.94 1.94 0.70 0.65 0.60 0.54 0.49 0.47 0.35

TSX VENTURE EXCHANGE / MAY 13–17 The S&P/TSX Venture Composite Index rose 9.67 points, or 1.61%, to finish at 609.15.

News of the acquisition of Atlantic Gold by Aust ra lia n gold producer St Barbara sent At lantic’s shares up 89¢ to $2.89. St Barbara’s offer represented a 40.8% premium to the company’s 30day, volu me-weig hted average pr ice.

The offer consisted of $2.90 per share in cash, plus a spin-out company that will hold Atlantic’s interest in Velocity Minerals, valued at 5¢ per share, for a total consideration of $2.95 per share.

The $2.90-per-share cash consideration implies a total equity value for Atlantic of $722 million, and a total enterprise value of $802 million.

Results from a preliminary economic assessment of SilverCrest Metals’ Las Chispas project in Sonora, Mexico, sent the company’s shares up 23¢ to $4.50.

The PEA outlined an initial mine life of eight and a half years, a production rate of 1,250 tonnes per day, and average annual production of 5.38 million oz. silver and 55,700 oz. gold, or 9.6 million equivalent oz. silver. Life-of-mine, all-in sustaining costs are an estimated US$7.52 per equivalent oz. silver. Initial capex is

forecast to run to US$100.5 million for a nine-month payback. The study estimated a 78% after-tax internal rate of return and US$406.9-million net present value. It used a US$16.68 per oz. silver price and US$1,269 per oz. gold price.

Shares of gold royalty and streaming company Maverix Metals rose 13¢ to $2.74 per share. The company reported firstquarter revenue of $7.5 million — up from $6.8 million in the first quarter of 2018.

Net income in the first quarter set a record of $1.5 million, or 1¢ per share, compared with $1.2 million, or 1¢ per share in the year-earlier quarter. The average cash cost per attributable equivalent oz. gold sold was $202 million, resulting in cash-operating margins of $1,527 per ounce. During the TSX-V MOST ACTIVE ISSUES

Atlantic Gold Alexandria Min Leeta Gold Westkam Gold Revelo Res Gratomic Osprey Gold Pure Nickel Karoo Expl Gold Finder Ex

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

AGB 26816 AZX 14153 HIVE 13539 WKG 9115 RVL 8996 GRAT 7272 OS 5481 NIC 5237 AHE 5081 VENZ 4158

2.90 0.04 0.72 0.01 0.03 0.07 0.07 0.04 0.17 0.09

1.97 0.03 0.56 0.01 0.02 0.04 0.04 0.02 0.08 0.07

2.89 + 0.89 0.03 - 0.01 0.58 + 0.03 0.01 unch 0.00 0.03 + 0.01 0.05 - 0.01 0.05 + 0.02 0.04 + 0.02 0.08 - 0.01 0.07 unch 0.00

quarter Maverix acquired a 22.5% life-ofmine silver stream on Ascendant Resources’ El Mochito mine.

M id la nd E x plor at ion’s sha re s fel l 12¢ to $1.05. T he compa ny repor ted dri l l resu lts f rom its My t hri l project in Quebec. The highlight was drill hole 19- 6, which cut a 13-met re intercept grading 1.07% copper, 0.37 gram gold

per tonne, a nd 8.87 g ra ms si lver per ton ne for a 1.41% copper-equ iva lent grade from 92 metres downhole, including 3.03% copper, 1.03 grams gold and 24.63 gra ms si lver for 3.94% copperequ iva lent over 4 met res, a nd 11.8% copper, 3.96 grams gold and 81.30 grams silver for a 15.16% copper-equiva lent over 1 metre. TN M

TSX-V GREATEST PERCENTAGE CHANGE

ML Gold Corp Martina Mnls Western Mag Blackrock Gold Pure Nickel Bold Ventures Tintina Mines Wildsky Res Philippine Mtl Lateral Gold Frontline Gold Granite Creek Rathdowney Res Eagle Graphite Hinterland Mtl Tango Mining Lions Bay Cap Adex Mining Deep-South Res Stroud Res

MLG MTN.H WMG BRC NIC BOL TTS WSK PHI TRAK FGC GCX RTH EGA HMI TGV LBI ADE DSM SDR

1924 300 3672 3314 5237 202 13 6 157 49 144 181 52 312 24 67 227 434 666 53

0.50 0.10 0.32 0.08 0.04 0.03 0.08 0.13 0.14 0.27 0.01 0.15 0.11 0.07 0.19 0.01 0.06 0.02 0.09 0.01

0.18 0.04 0.06 0.03 0.02 0.02 0.05 0.00 0.11 0.00 0.01 0.08 0.05 0.00 0.00 0.00 0.04 0.01 0.06 0.01

0.44 0.08 0.14 0.07 0.04 0.03 0.08 0.13 0.11 0.27 0.01 0.08 0.07 0.05 0.13 0.01 0.04 0.01 0.06 0.01

TSX-V GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

+ 158.8 + 128.6 + 125.0 + 100.0 + 75.0 + 66.7 + 66.7 + 62.5 + 61.5 + 58.8 - 50.0 - 50.0 - 36.4 - 35.7 - 34.2 - 33.3 - 33.3 - 33.3 - 33.3 - 33.3

VOLUME WEEK (000s) CLOSE CHANGE

Atlantic Gold Great Bear Res Hut 8 Mining ML Gold Corp SilverCrest Golden Secret Oroco Res Amex Expl Maverix Metals Xiana Mng Pac Booker Min Aurania Res Kingsmen Res Midland Expl Standard Lith Bluestone Res G2 Goldfields First Vanadium Azimut Explor Metallis Res

AGB GBR HUT MLG SIL TBRD OCO AMX MMX XIA BKM ARU KNG MD SLL BSR GTWO FVAN AZM MTS

26816 554 1232 1924 2042 114 1990 425 65 76 40 45 5 560 680 28 1190 821 267 44

2.89 2.84 1.91 0.44 4.50 1.62 0.59 0.77 2.74 0.60 3.84 3.60 0.41 1.05 0.77 0.89 0.30 0.40 0.32 0.47

+ 0.89 + 0.63 + 0.33 + 0.27 + 0.23 + 0.23 + 0.17 + 0.13 + 0.13 + 0.12 - 0.21 - 0.15 - 0.14 - 0.12 - 0.11 - 0.11 - 0.11 - 0.10 - 0.10 - 0.09

U.S. MARKETS / MAY 13–17 The Dow Jones Industrial Average lost 0.69%, or 178.37 points, to finish the trading week at 25,764, and the S&P 500 Index fell 0.76%, or 21.87 points, to 2,859.53. Spot gold dropped US$8.70 per oz., or 0.68%, to US$1,277.10 per oz. gold.

Strong quarterly results sent Kinross Gold’s shares up 3.6% to US$3.16. Kinross Gold reported net earnings in the first quarter of US$64.7 million, or US5¢ per share, and adjusted net earnings of US$83.3 million, or US7¢ per share. The company produced 606,031 oz. gold in the quarter, with its Paracatu and Tasiast mines both delivering record quarterly production, and their lowest costs since 2010 and 2011, respectively. All-in sustaining costs (AISCs) for the quarter came in at US$925 per equivalent oz. gold sold — up from US$846 per oz. in the first quarter of 2018. Management said it is on track to reach its 2019 production guidance of 2.5 million equivalent oz. gold, and expects AISCs for the year of US$995 per equivalent oz. gold.

Shares of Iamgold were up 8.8% to US$2.59, prompting a news release on May 17 stating it was not aware of any changes that would account for recent trading activity in the stock.

18_MAY27_MarketNews.indd 18

Peabody Energy fell US$2.98 to US$26.62.

The company reported that the first quarter was marked by unusual near-term challenges to the coal logistics chain in many parts of the world, with traditional coal flows rerouted by flooding in the heartland of the U.S.; port restrictions in China; wet weather and train derailments in Australia; and a cyclone in Mozambique. This resulted in first-quarter revenues of US$1.25 billion on 40.5 million tons (36.7 tonnes) of coal sales, compared with US$1.46 billion in revenue and 48.3 million tons (43.8 million tonnes) of coal sales in the same quarter last year. Adjusted earnings U.S. MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Vale* VALE 142158 12.21 11.36 11.59 - 0.88 Freeport McMoR* FCX 103798 11.03 10.29 10.37 - 1.00 Barrick Gold * GOLD 63115 12.62 12.01 12.22 + 0.22 United States S* X 60375 15.22 14.41 14.59 - 1.07 Cleveland-Clif* CLF 51151 10.24 9.47 10.02 - 0.23 Turquoise HIl* TRQ 50861 1.40 1.23 1.28 - 0.10 IAMGOLD* IAG 44859 2.75 2.34 2.59 + 0.21 Newmont Gdcorp* NEM 39251 31.08 30.21 30.92 + 0.77 Kinross Gold* KGC 37011 3.19 3.06 3.16 + 0.11 Chevron Corp* CVX 36732 122.49 119.88 120.52 - 1.47

before interest, tax, depreciation and amortization declined US$110 million year-on-year to US$253.9 million. The company closed the quarter with US$839.6 million in cash and equivalents, down from the US$1.44 billion it held at the end of the first quarter in 2018.

Consol Energy shares dropped US$2.65 to US$28.97. The company is developing its Itmann mine, a low-volume, metallurgical coal-mining operation in Wyoming County, West Virginia.

Construction will be funded internally, and the mine could run for more than 25 years. TNM

U.S. GREATEST PERCENTAGE CHANGE

IAMGOLD* IAG Pretium Res* PVG Franco-Nevada* FNV Kinross Gold* KGC Natural Res Pt* NRP Alamos Gold* AGI Mechel* MTL NACCO Ind* NC Newmont Gdcorp* NEM Kirkland Lake* KL Sibanye-Stillw* SBGL Peabody Enrgy* BTU Freeport McMoR* FCX CONSOL Energy* CEIX Intrepid Pots* IPI Fortuna Silvr* FSM CONSOL Energy* CNX Turquoise HIl* TRQ Arch Coal* ARCH Vale* VALE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

44859 2.75 2.34 2.59 + 8.8 5872 8.19 7.77 7.98 + 4.6 3051 76.90 73.39 75.92 + 3.9 37011 3.19 3.06 3.16 + 3.6 129 42.25 39.00 41.30 + 3.3 9283 4.86 4.48 4.58 + 3.2 269 2.10 1.81 2.06 + 3.0 57 51.66 47.79 50.04 + 2.8 39251 31.08 30.21 30.92 + 2.6 8085 35.20 32.71 33.88 + 2.5 15792 3.55 3.17 3.23 - 10.3 2735 29.13 26.53 26.62 - 10.1 103798 11.03 10.29 10.37 - 8.8 1367 31.38 28.77 28.97 - 8.4 1909 3.48 3.24 3.25 - 8.2 8144 2.95 2.53 2.64 - 7.7 16730 9.33 8.47 8.47 - 7.3 50861 1.40 1.23 1.28 - 7.2 885 96.57 89.83 90.28 - 7.2 142158 12.21 11.36 11.59 - 7.1

U.S. GREATEST VALUE CHANGE

Franco-Nevada* FNV MartinMarietta* MLM NACCO Ind* NC Natural Res Pt* NRP Rio Tinto* RIO Kirkland Lake* KL Black Hills* BKH Newmont Gdcorp* NEM Agnico Eagle* AEM Pretium Res* PVG Arch Coal* ARCH Peabody Enrgy* BTU Nutrien* NTR CONSOL Energy* CEIX Teck Res* TECK Chevron Corp* CVX Mosaic* MOS United States S* X Freeport McMoR* FCX Southern Copp* SCCO

VOLUME WEEK (000s) CLOSE CHANGE

3051 75.92 3138 217.53 57 50.04 129 41.30 14722 59.96 8085 33.88 1764 76.18 39251 30.92 6121 41.11 5872 7.98 885 90.28 2735 26.62 9084 49.40 1367 28.97 13203 20.42 36732 120.52 26736 22.80 60375 14.59 103798 10.37 3476 34.72

+ 2.84 + 1.66 + 1.35 + 1.30 + 1.09 + 0.83 + 0.81 + 0.77 + 0.71 + 0.35 - 7.04 - 2.98 - 2.73 - 2.65 - 1.53 - 1.47 - 1.10 - 1.07 - 1.00 - 0.93

2019-05-21 4:56 PM

GLOBAL MINING NEWS · SINCE 1915

THE NORTHERN MINER / MAY 27–JUNE 9, 2019

19

M E TA L S , M I N I N G A N D M O N EY M A R K E T S TSX WARRANTS

PRODUCER AND DEALER PRICES

SPOT PRICES Tuesday, May 20, 2019 Precious Metals Price (US$/oz.)

Gold $1276.85 Silver $14.42 Platinum $812.00 Palladium $1317.00 Base Metals Price (US$/tonne) Nickel $11910.00 Copper $5984.00 Lead $1795.00 Zinc $2702.50

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, May 17, 2019 (change from May 10, 2019 in brackets): Aluminium Alloy 7300 (-580) Aluminium 1239975 (-26600) Copper 211475 (-20925) Lead 73925 (-525) Nickel 169568 (-5168) Tin 885 (+630) Zinc 97650 (+7650)

Thermal Coal CAPP: US$40.00 per short ton Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$73.20 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$12.15 Cobalt: US$15.76/lb.

Copper: US$2.75/lb.

Copper: CME Group Futures June 2019: US$2.79/lb.; July: 2019: US$2.79/lb Iridium: NY Dealer Mid-mkt US$1,460.00/tr oz.

Iron Ore 62% Fe CFR China-S: N.A. Lead: US$0.82/lb.

Molybdenum Oxide: US$12.46/lb.

Phosphate Rock: US$86.00/tonne Potash: US$226.00/tonne Rhodium: Mid-mkt US$2,870.00 tr. oz.

Ruthenium: Mid-mkt US$263.00/tr. oz.

Silver: Handy & Harman Base: US$14.54 per oz.; Handy & Harman Fabricated: US$18.17 per oz.

Tantalite Ore : US$186.50/kg Tin: US$8.90/lb.

Uranium: U3O8, Trade Tech spot price: US$24.70 per lb U308 Zinc: US$1.25/lb.

Prices current May 21, 2019

NORTH AMERICAN STOCK EXCHANGE INDICES

52-week

Index May 17 May 16 May 15 May 14 May 13 High Low S&P/TSX Composite 16401.75 16443.86 16318.14 16284.53 16193.41 15527.30 12400.15 S&P/TSXV Composite 609.15 608.18 607.54 600.79 596.19 1050.26 883.52 S&P/TSX 60 982.76 985.52 977.28 974.85 969.92 896.74 709.99 S&P/TSX Global Gold 181.21 179.93 182.14 182.80 183.48 218.90 149.29 DJ Precious Metals 147.48 147.48 149.45 150.45 150.45 420.72 130.95

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of Apr 15, 2019 (with changes from Mar 29, 2019) Largest short positions 17681658 20034 3/29/2019 Sandstorm Gold SSL Nemaska Lith NMX 15179411 857499 3/29/2019 Ivanhoe Mines IVN 12898124 -81869 3/29/2019 Turquoise HIl TRQ 10551791 257415 3/29/2019 Kinross Gold K 8574878 1289199 3/29/2019 New Gold NGD 8557779 -804952 3/29/2019 Copper Mtn Mng CMMC 8254233 -123003 3/29/2019 Suncor Energy SU 7957742 -1818962 3/29/2019 Barrick Gold ABX 7146320 -1242974 3/29/2019 Nexgen Energy NXE 7117519 118374 3/29/2019 McEwen Mng MUX 7022389 -91946 3/29/2019 Yamana Gold YRI 6909723 -911028 3/29/2019 First Majestic FR 6756648 728546 3/29/2019 First Quantum FM 5899023 -445527 3/29/2019 OceanaGold OGC 5846557 -19898 3/29/2019 Largest increase in short position Lydian Intl LYD 2458293 2361699 3/29/2019 Kinross Gold K 8574878 1289199 3/29/2019 Nemaska Lith NMX 15179411 857499 3/29/2019 Alexco Res AXR 1224011 845398 3/29/2019 Western Potash WRX 1182203 800592 3/29/2019 Largest decrease in short position Stornoway Diam SWY 1391583 -3092288 3/29/2019 Suncor Energy SU 7957742 -1818962 3/29/2019 Wheaton Prec M WPM 2084876 -1785637 3/29/2019 Barrick Gold ABX 7146320 -1242974 3/29/2019 Guyana Gldflds GUY 2618636 -1067920 3/29/2019

Short positions outstanding as of Apr 15, 2019 (with changes from Mar 29, 2019) Largest short positions ROS 3750221 3656796 3/29/2019 RosCan Gold First Cobalt FCC 2520479 52332 3/29/2019 Leeta Gold HIVE 2145535 1701725 3/29/2019 Revelo Res RVL 2050957 2050787 3/29/2019 Atlantic Gold AGB 1259256 175425 3/29/2019 Gratomic GRAT 984888 841588 3/29/2019 Goldsource Min GXS 884788 819319 3/29/2019 Cobalt 27 Cap KBLT 882862 -2361 3/29/2019 Monument Mng MMY 852000 841000 3/29/2019 Novo Res NVO 846750 193079 3/29/2019 Amarillo Gold AGC 779500 49901 3/29/2019 Rockridge Res ROCK 588066 150684 3/29/2019 Minaurum Gold MGG 509668 431576 3/29/2019 Macarthur Mnl MMS 498349 -98751 3/29/2019 Equinox Gold EQX 481592 241046 3/29/2019 Largest increase in short position ROS 3750221 3656796 3/29/2019 RosCan Gold Revelo Res RVL 2050957 2050787 3/29/2019 Leeta Gold HIVE 2145535 1701725 3/29/2019 Gratomic GRAT 984888 841588 3/29/2019 Monument Mng MMY 852000 841000 3/29/2019 Largest decrease in short position VIT 28587 -4228090 3/29/2019 Victoria Gold Ascot Res AOT 89271 -1109811 3/29/2019 Aston Bay BAY 65309 -1007370 3/29/2019 iMetal Res IMR 26944 -776922 3/29/2019 Compass Gold CVB 63846 -585217 3/29/2019

DAILY METAL PRICES Daily Metal Prices Date May 20 May 17 May 16 May 15 May 14 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) Al Alloy 1420/1350 1335/1350 1340/1350 1310/1320 1300/1325 Aluminum 1785.50/1818.50 1804.50/1834 1830/1861 1801.50/1830 1791.50/1822 Copper 5984/6010 6020/6043 6088/6110 6001/6031 6006/6039 Lead 1795/1809 1808/1823 1825.50/1835 1779/1797 1766/1787.50 Nickel 11910/11890 12020/12050 12210/12180 11920/11900 11810/11820 Tin 19625/19330 19580/19450 19625/19425 19845/19650 19880/19575 Zinc 2702/2555 2750/2606 2780/2631.50 2725/2607 2710/2590 PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.)

Gold AM 1275.25 1285.80 1295.55 1298.90 1297.60 Gold PM 1276.85 1280.80 1291.70 1299.10 1298.40 Silver 14.42 14.48 14.80 14.82 14.76 Platinum 812.00 823.00 842.00 846.00 857.00 Palladium 1317.00 1316.00 1335.00 1311.00 1330.00

Alio Gold Inc. (ALO.WT) - 10 Warrants to purchase one common share of the Issuer at $7.00 until expiry Alio Gold Inc. J (ALO.WT.A) - One Warrant to purchase one common share of the Issuer at $8.00 until expiry Ascendant Resources (ASND.WT) - Wt buys sh @ $1.25 to Mar 7/22 eColbalt Solutions Inc. J (ECS.WT) - One Warrant to purchase one common share of the Issuer at US$1.95 per share until expiry Excellon Resources Inc (EXN.WT.A) - One warrant to purchase one common share of the Issuer at $2.80 until expiry Golden Queen Mining Co (GQM.WT) Wt buys sh @ $2 to Jul 25/19 Gran Colombia Gold (GCM.WT.B) - One warrant to purchase one common share of the Issuer at $2.21 until expiry.

Liberty Gold Corp. Wt (LGD.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry may 16, 2019 Lithium Americas Corp (LAC.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry Lydian International Limited (LYD.WT) One Warrant to purchase one additional ordinary share of the Issuer at $0.36 per share until expiry Nemaska Lithium Inc (NMX.WT) - Wt buys sh @ $1.5 to Jul 8/19 Northern Dynasty Minerals Ltd. J (NDM. WT.A) - Wt buys sh @ $0.55 to Jul 9/20 Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21 Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21

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

American Cumo Mining Corp. (MLY.RT) 2 rights and $0.07 are required to purchase one share Antioquia Gold Inc. (AGD.RT) - One (1) Right and $0.042 are required to purchase one share.

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

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.

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

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

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

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

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

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

JDL Gold Corp. (JDL.WT) - Wt buy sh @ $3.00 to Oct 06/21 Jet Metal (JET.WT) - Wt buys sh @ $0.25 to Sep 16/19 Kootenay Silver Inc. (KTN.WT) - Wt buys sh @ $0.55 to Apr 21/21

Osisko Gold Royalties (OR.WT) - Wt buys sh @ $36.5 to Feb 18/22 Platinum Group Metals Ltd. (PTM.WT.U) - One Warrant to purchase one common share of the Issuer at US$0.17 until expiry Sandstorm Gold (SSL.WT.B) - One Warrant to purchase one common share of the Issuer at US $14.00 until expiry.

Sherritt International Corporation (S.WT) - Each whole Warrant entitles the holder to acquire between 1.00 and 1.25 additional common shares (as bulletin 20180062 table ) determined based on the Applicable Reference Cobalt Price at an exercise price of $1.95 per Warrant at any time prior to the Expiry Date Sprott Resource Corp (SRHI.WT) - Wt buys sh @ $0.3333 to Feb 09/22

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

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

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

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

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

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

NEW 52-WEEK HIGHS AND LOWS MAY 13–17, 2019 50 New Highs African Gold African Gold* Aldever Res* Atlantic Gold Atlantic Gold* Black Hills* Bullfrog Gold* Centerra Gold Champion Iron Champion Iron* Delrey Metals * Diamond Fields Diamond Fields* Emerita Res Fortescue Met* G2 Goldfields Gabriel Res Getchell Gold * GK Resources GobiMin Graphite Egy Graphite Egy* Harfang Explor Irving Res Irving Res*

Lithion Energy* Martina Mnls Maxwell Res* ML Gold Corp ML Gold* Mountain Boy Mountain Boy* One World Lith* Oroco Res Oroco Res* Osisko Metals Osisko Metals* Philippine Mtl Pure Nickel Pure Nickel* Rain City Sarama Res Silver Fields* Strategic Res Superior Mng Talon Metals Transition Met* Uranium Hunter* Western Mag Western Mag*

104 New Lows

Abacus Mining* African Gold* Aguila Amer Gd* Alio Gold Alio Gold* Allegiant Gold* Almaden Min Almaden Min* American Creek* American Mang* Amerigo Res* Anglo-Bomarc* Antler Gold * Argex Titanium* Arrowstar Res* Asanko Gold Avino Silver Avino Silver* Avrupa Min* Balmoral Res* Baroyeca Gold* Brazil Min* Coeur Mng* Colibri Res* Colt Res* CONSOL Energy*

Defense Metals* Delrey Metals * Discovery-Corp Dolly Vard Sil Endeavr Silver* Engold Mines* Fengro Industr* First Vanadium First Vanadium* Fortuna Silvr Fortuna Silvr* FPX Nickel Gentor Res Gldn Predator Glen Eagle Res Gold Resource* Gold Rush Cari* GoldON Res* Goldplay Expl Goldplay Expl* Gowest Gold* Gratomic Hecla Mining* Honey Badger E* Intl Star* Jaxon Mining

Kings Bay Res* Largo Res* Leading Edge Leading Edge* Lithium Chile Mechel* Metallic Mnrls Metals Creek Metals Creek* Minaurum Gold Minaurum Gold* Mosaic* Newmac Res* Nexgen Energy Nexgen Energy* Nickel Creek Nickel Creek* Norsemont Cap* NxGold Ltd One World Lith* Orezone Gold* Osino Res Pan Am Silver Pan Am Silver* Paramount Gold* Peabody Enrgy*

Pine Cliff En* Plateau Energy Platinex Inc* PolyMet Mng* Power Metals Power Metals* Rain City Richmond Mnls* Rockcliff Met Satori Res* Sierra Metals* Silver Viper* Standard Lith Starr Peak Exp* Stornoway Diam Talisker Res Tanzania Mnls* Thunder Mtn Gd* Turquoise HIl Turquoise HIl* Vendetta Mng* VR Resources Wealth Mnrls Wealth Mnrls* Zinc One Res Zincore Mtls*

CANADIAN GOLD MUTUAL FUNDS Fund May 17 ($) May 10 ($) Change ($) Change (%) YTDChange (%) MER (%) TotalAssets (M$) 17.60 0.17 0.96 -2.48 2.80 97.54 AGF Glob Re A Fd MF BMO Prec Mtls Fd A 17.29 16.91 0.39 2.30 -3.64 2.40 53.09 BMO ZGD 41.14 40.60 0.54 1.33 0.24 0.61 87.47 BMO ZJG 43.22 42.25 0.98 2.32 -1.27 0.60 68.87 9.31 9.11 0.20 2.20 -0.36 2.45 39.03 CIBC Prec Metal Fd A Dyn Prec Metls Fd A 6.73 6.62 0.11 1.66 -0.92 2.71 316.13 10.17 10.00 0.17 1.71 3.13 0.60 Galileo GOGO Harvest HGGG 19.38 18.88 0.50 2.67 4.83 Horizons HEP 22.80 22.53 0.28 1.22 2.85 0.83 IG Mac GbPMetCl A 7.90 7.81 0.10 1.23 -1.19 2.75 27.70 11.33 11.08 0.25 2.25 -2.08 0.61 675.66 iShares XGD Mac Prec Met Cl A 41.43 41.82 0.52 1.23 -1.15 2.52 51.05 11.77 11.44 0.33 2.88 1.39 2.46 25.12 NBI PrecMetFd Invt NPT Gold&PrMinFdA 30.98 30.63 0.35 1.14 -3.72 3.04 NPT SilverEquCl A 4.23 4.25 -0.02 -0.38 -0.79 2.95 RBC GblPreMetFd A 30.73 30.25 0.48 1.59 -1.76 2.13 277.24 32.16 31.11 1.05 3.39 -4.58 2.46 207.25 Sentry Pre Met Fd A TD Prec Mtl Fd Inv 30.32 29.73 0.59 1.98 -1.01 2.27 98.19

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

May 17 May 16 May 15 May 14 May 13 1.3461 1.3461 1.3440 1.3458 1.3484 0.7429 0.7429 0.7440 0.7431 0.7416

Exchange rates (Quote Media, May 17, 2019) C$ to AUS C$ to EURO C$ to YEN C$ to Mex Peso C$ to SA Rand 0.6649 81.6130 14.1979 10.6106 1.0779 C$ to UK Pound C$ to China Yuan C$ to India Rupee C$ to Swiss Franc C$ to S. Korea Won 0.5806 5.1139 52.1770 0.7504 885.4470 US to AUS US to EURO US to YEN US to Mex Peso US to SA Rand 1.4510 0.8950 109.8590 19.1150 14.2874 US to UK Pound US to China Yuan US to India Rupee US to Swiss Franc US to S. Korea Won 0.7815 6.8838 70.2425 1.0101 1191.4900

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

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

19_MAY27_MMMM.indd 19

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

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

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

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

GLOBAL MINING NEWS · SINCE 1915

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2019-05-21 4:57 PM

20

WWW.NORTHERNMINER.COM

MAY 27–JUNE 9, 2019 / THE NORTHERN MINER

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: MAY 13–17, 2019 (100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

A 21C Metals 30 21C Metals* O 19 37 Capital 33 66 Resources 595 92 Resources V 3621 92 Resources* O 703 O 55 Abacus Mining* V 86 Abacus Mining Abcourt Mines V 134 O 89 Abcourt Mines* Aben Resources* O 210 Aben Resources V 507 O 25 Aberdeen Intl* Aberdeen Intl T 254 2 Abitibi Royal* O Abitibi Royal V 2 O 65 AbraPlata Res* AbraPlata Res V 187 O 0 Acacia Mining* Adamera Min V 112 O 16 Adamera Min* Adex Mining V 434 Advance Gold V 55 Advantage Lith V 217 O 103 Advantage Lith* Adventus V 168 Adventus* O 14 Aethon Mineral V 287 AEX Gold V 3 Affinity Metal* O 2 African Gold* O 0 African Gold* O 0 African Gold V 200 African Min* O 20 O 41 Aftermath Silv* Aftermath Silv V 57 Agnico Eagle* N 6121 Agnico Eagle T 4818 AgriMinco* O 20 Aguia Resource V 713 4 Aguila Amer Gd V Aguila Amer Gd* O 0 AJN Resources 405 Alacer Gold T 5967 Alamos Gold T 3608 Alamos Gold* N 9283 Alaska Pac Egy* O 1076 O 43 Alba Minerals* Albert Mining V 573 O 27 Albert Mining* Alcoa* N 16880 V 99 Aldebaran Res Alderon Iron* O 50 Alderon Iron T 411 Aldever Res* O 2 Aldever Res V 1 Alexandra Cap* O 5 O 498 Alexandria Min* Alexandria Min V 14153 Alexco Res* X 1497 Alexco Res T 315 Algold Res* O 50 Algold Res V 42 Alianza Min V 63 Alianza Min* O 1 Alien Metals* O 81 Alio Gold* X 1003 Alio Gold T 299 Allante Res V 120 Allegiant Gold V 123 Allegiant Gold* O 246 Alliance Mng V 985 Alliance Res* D 2114 Almaden Min T 71 Almaden Min* X 536 Almadex Min* O 148 Almadex Min V 298 Almonty Ind * O 51 Almonty Ind T 395 Aloro Mining* O 33 Aloro Mining V 35 Alphamin Res * O 2 Alphamin Res V 170 Altai Resource V 495 O 4 Altai Resource* Altair Res Inc* O 0 46 Altair Res Inc V Altamira Gold V 332 O 114 Altamira Gold* Altan Nevada V 361 Altiplano Met V 64 Altius Mnrls * O 158 Altius Mnrls T 183 Alto Ventures* O 15 Alto Ventures V 209 Altura Mining* O 508 Alturas Min V 30 Altus Strat V 195 Alumina Ltd* O 201 ALX Uranium V 192 ALX Uranium* O 115 AM Resources V 14 Amador Gold V 139 Amanta Res* O 0 Amarc Res* O 30 Amarc Res V 291 Amarillo Gold V 139 Amarillo Gold* O 48 O 270 Amazing Energy* Amer Intl Vent* O 115 O 30 American Batt* American Creek* O 458 V 45 American Creek American CuMo* O 6 American Lith V 254 American Lith* O 156 O 193 American Mang* American Mang V 317 American Pac 1353 American Pac* O 389 O 22 AmericanSierra* Americas Silvr* X 616 T 883 Americas Silvr Amerigo Res T 688 Amerigo Res* O 322 Amex Expl* O 4 Amex Expl V 425 Amilot Capital V 20 O 0 Amilot Capital* Amseco Expl V 0 0 Amseco Expl * O Anaconda Mng T 818 O 150 Anaconda Mng* Anconia Res V 2698 Andes Gold* O 10 Andover Mng* O 22 O 218 Anfield Energy* Anfield Energy V 110 Angel Gold* O 50 Angel Gold V 258 Angkor Gold V 163 Angkor Gold* O 3 20 Anglo American* O Anglo American* O 368 2 Anglo Pac Grp T Anglo-Bomarc* O 1 N 13509 AngloGold Ash* AngloGold Ash* O 0 O 10 Antioquia Gold* Antioquia Gold V 931 2 Antler Gold * O Antler Gold V 74 Antofagasta* O 2923 Apex Res * O 0 Apex Res V 4 Appia Energy 264 O 418 Appia Energy* Applied Min* O 37 Aquila Res* O 514 Aquila Res T 289 N 885 Arch Coal* Archon Mineral V 46 Arctic Star* O 50 Arctic Star V 3376 75 Arcus Dev Grp* O Arcus Dev Grp V 49 Arena Min V 534

20-23_MAY27_StockTables.indd 20

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0.01 0.14 0.05 0.09 0.00 0.09 - 0.01 0.20 0.05 41.84 39.97 41.11 + 0.71 47.83 32.18 56.43 53.69 55.33 + 1.14 62.80 42.35 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.12 0.12 0.12 - 0.03 0.23 0.08 0.21 0.00 0.21 unch 0.00 0.28 0.17 0.00 0.00 0.11 unch 0.00 0.13 0.11 0.07 0.06 0.07 + 0.01 0.20 0.05 4.04 3.60 4.03 + 0.47 4.13 1.97 6.54 6.04 6.16 + 0.19 7.97 3.88 4.86 4.48 4.58 + 0.14 6.13 2.90 0.00 0.00 0.00 + 0.00 0.00 0.00 0.09 0.08 0.09 - 0.01 0.09 0.04 0.10 0.08 0.09 - 0.02 0.25 0.02 0.07 0.00 0.07 + 0.01 0.19 0.01 25.47 23.97 24.50 - 0.54 51.20 23.88 0.49 0.46 0.48 + 0.01 0.90 0.41 0.25 0.25 0.25 unch 0.00 0.35 0.15 0.33 0.28 0.33 unch 0.00 0.50 0.22 0.06 0.00 0.06 + 0.00 0.08 0.02 0.00 0.00 0.08 unch 0.00 0.20 0.04 0.38 0.38 0.38 unch 0.00 0.48 0.38 0.03 0.02 0.03 - 0.00 0.06 0.01 0.04 0.03 0.03 - 0.01 0.08 0.02 1.10 1.00 1.06 unch 0.00 1.48 0.68 1.47 1.35 1.43 + 0.01 1.95 0.92 0.11 0.10 0.11 - 0.00 0.59 0.10 0.15 0.00 0.15 + 0.01 1.20 0.14 0.06 0.00 0.06 unch 0.00 0.12 0.05 0.03 0.03 0.03 unch 0.00 0.09 0.03 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.63 0.53 0.55 - 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0.01 0.31 0.10 0.64 0.57 0.58 - 0.03 1.10 0.46 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.04 0.00 0.04 - 0.01 0.08 0.03 0.05 0.05 0.05 unch 0.00 0.11 0.04 0.21 0.19 0.19 - 0.02 0.32 0.19 0.16 0.14 0.15 - 0.00 0.25 0.14 0.22 0.16 0.18 - 0.01 0.51 0.00 0.01 0.01 0.01 + 0.00 0.03 0.00 0.30 0.28 0.28 - 0.02 0.35 0.26 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.03 0.00 0.03 unch 0.00 0.05 0.03 0.04 0.04 0.04 + 0.00 0.10 0.02 0.26 0.24 0.24 - 0.01 0.74 0.22 0.20 0.17 0.18 - 0.01 0.57 0.17 0.12 0.10 0.11 - 0.00 0.18 0.10 0.15 0.14 0.14 unch 0.00 0.24 0.13 0.17 0.12 0.15 + 0.02 0.38 0.04 0.13 0.09 0.12 + 0.02 0.29 0.03 0.02 0.01 0.01 - 0.01 0.03 0.01 1.93 1.69 1.75 - 0.06 3.72 1.24 2.59 2.31 2.35 - 0.11 4.75 1.66 0.77 0.69 0.73 - 0.03 1.21 0.67 0.57 0.51 0.53 - 0.05 0.92 0.51 0.48 0.00 0.48 unch 0.00 1.12 0.04 0.80 0.60 0.77 + 0.13 1.52 0.06 0.04 0.00 0.04 unch 0.00 0.15 0.03 0.00 0.00 0.06 unch 0.00 0.06 0.00 0.00 0.00 0.05 unch 0.00 0.29 0.01 0.00 0.00 0.03 unch 0.00 0.13 0.03 0.34 0.30 0.32 - 0.02 0.40 0.18 0.25 0.21 0.24 - 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0.01 0.13 0.03 0.08 0.06 0.07 - 0.02 0.18 0.04 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.04 0.03 0.04 + 0.01 0.07 0.03 0.08 0.07 0.07 unch 0.00 0.11 0.05

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Arena Min* O 109 Argentina Lith* O 16 Argentina Lith V 146 Argentum Silvr* O 6 Argentum Silvr V 55 Argex Titanium T 1266 Argex Titanium* O 427 Argo Gold* O 15 Argo Gold 154 Argonaut Gold* O 59 Argonaut Gold T 610 V 140 Arianne Phosph Arianne Phosph* O 87 Arizona Silver* O 156 Arizona Silver V 282 Armor Min V 23 Arrowstar Res* O 0 Asanko Gold T 137 Asanko Gold* X 617 Asante Gold 299 Asbestos Corp V 6 Ascendant Res* O 15 T 141 Ascendant Res Ascot Res V 614 Ascot Res * O 49 Ashanti Gold V 1146 V 338 Ashanti Sanko AsiaBaseMetals V 49 AsiaBaseMetals* O 5 Asian Mineral V 51 Aston Bay V 1166 Aston Bay* O 40 Astorius Res V 41 Astur Gold V 172 ATAC Res V 390 ATAC Res* O 165 O 24525 Atacama Res* Atalaya Mining T 1 O 58 Athabasca Min* Athabasca Min V 703 Athena Silver* O 2 Atico Mining* O 33 Atico Mining V 53 Atlanta Gold* O 1 Atlanta Gold V 10 Atlantic Gold V 26816 Atlantic Gold* O 4096 Atlatsa Res* O 6 Atlatsa Res T 171 Atom Energy * O 5 O 207 Aton Resources* Aton Resources V 247 Aura Minerals* O 0 Aura Minerals T 4 V 72 Aura Resources Aura Resources* O 7 Auramex Res V 365 Aurania Res* O 15 Aurania Res V 45 Aurcana Corp V 75 Aurcana Corp* O 7 AurCrest Gold V 230 Aurelius Min V 2279 Aurex Energy V 205 Aurion Res V 82 Aurion Res * O 40 Aurora Royal V 437 O 6 AURYN Mining* Auryn Resource T 301 Auryn Resource* X 367 Aust Mines* O 108 Austin Res V 208 Austral Gold* O 9 Austral Gold V 113 Auxico Res 233 T 2378 Avalon Advance Avalon Advance* O 90 Avarone Metals* O 67 Avarone Metals 1092 Avesoro Res* O 0 Avesoro Res T 0 Avidian Gold V 45 Avino Silver* X 1180 Avino Silver T 158 Avrupa Min V 358 Avrupa Min* O 132 Awale Res V 125 Axmin Inc* O 25 Axmin Inc V 510 Azarga Metals V 32 Azarga Metals* O 0 O 180 Azarga Uranium* Azarga Uranium T 362 Azimut Explor V 267 Azimut Explor* O 133 O 3 Azincourt Ener* Azincourt Ener V 1828 Aztec Minerals V 22 O 32 Aztec Minerals* Azteca Gold* O 5316 Azucar Min V 116

0.06 0.04 0.05 - 0.00 0.08 0.03 0.05 0.04 0.05 + 0.00 0.27 0.03 0.07 0.06 0.06 - 0.01 0.86 0.06 0.13 0.13 0.13 unch 0.00 0.20 0.11 0.18 0.18 0.18 unch 0.00 0.33 0.10 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.02 0.01 0.02 - 0.00 0.05 0.01 0.06 0.06 0.06 unch 0.00 0.24 0.06 0.14 0.07 0.11 + 0.04 0.33 0.07 1.23 1.15 1.21 + 0.08 2.03 0.85 1.65 1.55 1.61 + 0.06 2.54 1.18 0.42 0.38 0.39 - 0.03 0.61 0.35 0.31 0.28 0.29 - 0.02 0.47 0.27 0.13 0.12 0.12 + 0.01 0.14 0.04 0.17 0.15 0.16 - 0.01 0.19 0.06 0.40 0.40 0.40 unch 0.00 0.73 0.30 0.00 0.00 0.00 unch 0.00 0.09 0.00 0.84 0.79 0.79 - 0.03 1.68 0.79 0.62 0.58 0.59 - 0.02 1.31 0.56 0.05 0.04 0.04 - 0.02 0.08 0.03 0.55 0.40 0.55 unch 0.00 0.80 0.33 0.32 0.30 0.30 - 0.04 0.90 0.28 0.44 0.39 0.39 - 0.05 1.16 0.35 0.72 0.67 0.70 + 0.02 1.44 0.64 0.53 0.50 0.50 - 0.01 1.10 0.47 0.05 0.04 0.05 unch 0.00 0.18 0.04 0.02 0.02 0.02 - 0.01 0.10 0.02 0.30 0.25 0.28 + 0.01 0.40 0.12 0.20 0.20 0.20 unch 0.00 0.20 0.20 0.16 0.15 0.15 - 0.01 3.00 0.15 0.08 0.06 0.07 unch 0.00 0.25 0.05 0.06 0.04 0.05 - 0.01 0.19 0.03 0.03 0.03 0.03 unch 0.00 0.07 0.02 0.14 0.10 0.12 - 0.02 0.31 0.10 0.21 0.20 0.21 - 0.01 0.60 0.20 0.16 0.14 0.14 - 0.02 0.45 0.14 0.00 0.00 0.00 - 0.00 0.00 0.00 3.61 3.50 3.50 - 0.49 4.65 2.88 0.44 0.37 0.44 + 0.05 0.53 0.11 0.59 0.49 0.59 + 0.07 0.71 0.14 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.23 0.20 0.23 - 0.03 0.48 0.17 0.30 0.27 0.29 - 0.06 0.63 0.23 0.01 0.01 0.01 - 0.01 0.04 0.01 0.03 0.03 0.03 unch 0.00 0.06 0.03 2.90 1.97 2.89 + 0.89 2.90 1.40 2.16 1.47 2.14 + 0.64 2.16 1.07 0.06 0.06 0.06 + 0.01 0.07 0.02 0.08 0.08 0.08 unch 0.00 0.09 0.03 0.08 0.05 0.05 - 0.03 0.35 0.00 0.02 0.02 0.02 + 0.00 0.08 0.02 0.03 0.03 0.03 + 0.01 0.11 0.02 0.00 0.00 14.63 unch 0.00 16.50 1.00 20.66 20.37 20.66 + 0.34 24.80 14.60 0.07 0.00 0.06 + 0.01 0.18 0.03 0.04 0.04 0.04 unch 0.00 0.05 0.01 0.05 0.04 0.05 unch 0.00 0.08 0.03 2.84 2.64 2.68 - 0.12 3.05 1.25 3.85 3.56 3.60 - 0.15 4.10 1.93 0.40 0.29 0.40 + 0.02 1.15 0.29 0.30 0.01 0.27 - 0.03 0.60 0.00 0.03 0.02 0.03 + 0.01 0.04 0.01 0.03 0.03 0.03 - 0.01 0.07 0.02 0.26 0.20 0.20 unch 0.00 1.30 0.20 1.00 0.97 0.98 - 0.02 2.15 0.70 0.75 0.72 0.72 - 0.04 1.63 0.55 0.09 0.08 0.09 + 0.01 0.11 0.06 0.74 0.00 0.05 - 0.31 1.80 0.05 2.15 2.01 2.01 - 0.11 2.34 1.14 1.59 1.48 1.50 - 0.06 1.75 0.85 0.02 0.00 0.01 unch 0.00 0.33 0.01 0.02 0.01 0.02 + 0.01 0.02 0.01 0.05 0.00 0.04 - 0.01 0.40 0.00 0.07 0.00 0.06 - 0.01 0.10 0.05 0.16 0.15 0.15 - 0.01 0.28 0.12 0.06 0.05 0.05 - 0.01 0.12 0.05 0.04 0.03 0.03 - 0.01 0.09 0.03 0.05 0.04 0.05 - 0.01 0.05 0.02 0.07 0.05 0.06 - 0.01 0.08 0.04 0.00 0.00 1.55 unch 0.00 3.60 1.55 1.89 0.00 1.89 - 0.12 5.99 1.89 0.14 0.13 0.13 - 0.01 0.68 0.12 0.49 0.42 0.43 - 0.03 1.42 0.42 0.65 0.56 0.59 - 0.04 1.83 0.56 0.03 0.03 0.03 unch 0.00 0.13 0.03 0.02 0.02 0.02 + 0.00 0.10 0.02 0.10 0.08 0.09 - 0.01 0.18 0.06 0.36 0.33 0.35 + 0.05 0.50 0.08 0.52 0.43 0.50 + 0.04 0.66 0.09 0.10 0.00 0.09 - 0.02 0.16 0.08 0.00 0.00 0.07 unch 0.00 0.11 0.05 0.18 0.16 0.18 + 0.01 0.24 0.15 0.25 0.21 0.25 + 0.03 0.32 0.20 0.42 0.31 0.32 - 0.10 0.52 0.22 0.34 0.00 0.23 - 0.09 0.38 0.17 0.04 0.03 0.03 - 0.00 0.09 0.03 0.06 0.05 0.05 - 0.01 0.12 0.05 0.13 0.11 0.12 - 0.01 0.29 0.12 0.10 0.09 0.09 - 0.01 0.18 0.09 0.00 0.00 0.00 + 0.00 0.00 0.00 0.33 0.30 0.31 - 0.03 1.52 0.28

B2Gold Corp* X 17283 B2Gold Corp T 8987 Balmoral Res T 201 Balmoral Res* O 121 Balto Res V 750 V 407 Bankers Cobalt O 68 Bankers Cobalt* Bannerman Res* O 1456 Banyan Gold V 701 Banyan Gold* O 150 O 1 Bard Ventures* Bard Ventures V 53 Barkerville* O 61 Barkerville V 710 Barksdale Cap V 76 Barksdale Cap* O 26 Barolo Venture* O 0 Barolo Venture V 51 Baroyeca Gold* O 570 Baroyeca Gold V 617 Barrian Mining V 302 Barrick Gold T 20070 Barrick Gold * N 63115 Barsele Min* O 3 Barsele Min V 17 Batero Gold* O 3 Batero Gold V 82 Bayhorse Silvr* O 59 Bayhorse Silvr V 461 BC Moly V 55 BCM Res V 116 BE Res V 36 Bear Creek Mng V 78 Bear Creek Mng* O 56 Bearclaw Cap V 50 Bearing Lith* O 33 Bearing Lith V 145 Beauce Gold V 47 Bell Copper V 213 Bell Copper* O 54 Belmont Res V 1035 Belo Sun Mng T 574 Belo Sun Mng* O 597 BeMetals V 172 Benchmark Met* O 72 Benchmark Met V 481 Benton Res V 1164 Benton Res* O 10 Benz Mining V 235 Benz Mining* O 25 Berkwood Res * O 16 Berkwood Res V 632 Bessor Min V 34 Bessor Min* O 0 Bird River Res 147 Bitterroot Res* O 21 Bitterroot Res V 282 Black Hills* N 1764 Black Iron T 1628 Black Iron* O 66 Black Isle Res* O 1 Black Mammoth V 21 Black Sea * O 6 Black Sea V 55 Black Tusk Res 335

2.73 2.61 2.63 - 0.02 3.35 2.10 3.66 3.53 3.54 + 0.01 4.40 2.77 0.11 0.10 0.10 + 0.01 0.23 0.10 0.08 0.07 0.08 + 0.01 0.19 0.07 0.08 0.08 0.08 unch 0.00 0.15 0.05 0.03 0.03 0.03 unch 0.00 0.17 0.02 0.02 0.01 0.02 + 0.00 0.14 0.01 0.04 0.03 0.04 + 0.00 0.06 0.03 0.05 0.04 0.04 unch 0.00 0.09 0.04 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.10 0.10 0.10 unch 0.00 0.21 0.03 0.17 0.00 0.17 - 0.01 1.63 0.15 0.27 0.25 0.25 - 0.01 0.49 0.23 0.36 0.34 0.34 - 0.01 0.62 0.30 0.47 0.44 0.44 - 0.02 0.86 0.43 0.36 0.34 0.34 - 0.01 0.61 0.31 0.00 0.00 0.05 unch 0.00 0.19 0.01 0.30 0.27 0.27 - 0.03 0.30 0.09 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.17 0.15 0.17 unch 0.00 0.20 0.14 16.99 16.15 16.45 + 0.36 19.49 12.54 12.62 12.01 12.22 + 0.22 88.70 11.52 0.30 0.00 0.30 - 0.01 0.62 0.28 0.43 0.41 0.43 + 0.03 0.90 0.36 0.04 0.04 0.04 - 0.00 0.06 0.03 0.06 0.06 0.06 unch 0.00 0.08 0.06 0.06 0.05 0.06 - 0.00 0.14 0.05 0.08 0.07 0.08 unch 0.00 0.18 0.07 0.04 0.04 0.04 unch 0.00 0.09 0.03 0.10 0.09 0.10 + 0.01 0.26 0.08 0.05 0.04 0.05 + 0.01 0.07 0.02 1.41 1.24 1.29 - 0.04 2.06 0.89 1.05 0.91 0.95 - 0.04 2.03 0.71 0.03 0.03 0.03 - 0.01 0.05 0.03 0.16 0.14 0.15 - 0.02 0.80 0.02 0.22 0.20 0.20 - 0.02 0.41 0.20 0.12 0.11 0.12 - 0.01 0.29 0.07 0.10 0.08 0.09 + 0.02 0.15 0.05 0.08 0.06 0.08 + 0.00 0.12 0.03 0.03 0.02 0.02 - 0.01 0.10 0.02 0.26 0.24 0.24 - 0.02 0.42 0.17 0.20 0.17 0.18 - 0.01 0.33 0.12 0.25 0.00 0.25 - 0.01 0.30 0.18 0.15 0.14 0.15 + 0.01 0.30 0.11 0.20 0.19 0.20 unch 0.00 0.39 0.16 0.05 0.04 0.04 - 0.01 0.07 0.04 0.03 0.03 0.03 - 0.00 0.06 0.03 0.06 0.05 0.06 - 0.01 0.14 0.05 0.05 0.05 0.05 - 0.00 0.10 0.04 0.04 0.03 0.04 + 0.00 0.10 0.03 0.06 0.05 0.06 + 0.01 0.14 0.05 0.08 0.00 0.08 + 0.01 0.20 0.05 0.00 0.00 0.01 unch 0.00 0.01 0.00 0.02 0.02 0.02 unch 0.00 0.10 0.02 0.03 0.02 0.02 - 0.01 0.09 0.01 0.04 0.04 0.04 unch 0.00 0.12 0.02 76.70 75.01 76.18 + 0.81 76.70 55.07 0.07 0.06 0.07 + 0.01 0.12 0.05 0.06 0.05 0.06 + 0.01 0.09 0.03 0.02 0.01 0.01 - 0.01 0.03 0.00 0.06 0.06 0.06 unch 0.00 0.12 0.05 0.05 0.00 0.05 - 0.00 0.07 0.01 0.08 0.07 0.08 + 0.01 0.29 0.06 0.16 0.14 0.15 - 0.01 0.29 0.12

B

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Blackheath Res V 416 Blackrock Gold V 3314 Blackrock Gold* O 18 Blind Creek V 271 BLOX Inc* O 13 Blue Moon Zinc V 381 Blue Moon Zinc* O 111 Blue River Res V 367 Blue River Res* O 16 Blue Sky Uran* O 596 Blue Sky Uran V 842 10 Blue Star Gold* O Blue Star Gold V 1127 BlueBird Batt V 165 BlueBird Batt* O 125 Bluenose Gold V 422 Bluestone Res* O 18 Bluestone Res V 28 Bold Ventures V 202 Bonanza Gold* O 10898 Bond Resources 45 BonTerra Res V 223 Boreal Metals V 48 Borneo Res Inv* O 6273 Bravada Gold* O 13 Bravada Gold V 46 V 96 Braveheart Res Bravo Multinat* O 79 Brazil Min* O 126389 Brigadier Gold V 25 BrightRock* O 32 Britannia Mng* O 509 Brixton Metals V 394 Brixton Metals* O 30 Broadway Gold* O 32 Broadway Gold V 448 O 147 Brookmount Exp* Bryn Res* O 94 BTU Metals V 127 Buenaventura* N 5511 Buffalo Coal V 1714 Bullfrog Gold* O 424 Bunker Hill 166 BWR Explor V 132

0.02 0.01 0.01 - 0.01 0.04 0.01 0.08 0.03 0.07 + 0.04 0.12 0.03 0.04 0.03 0.04 + 0.01 0.08 0.02 0.05 0.05 0.05 unch 0.00 0.22 0.03 0.15 0.03 0.15 unch 0.00 0.28 0.03 0.03 0.00 0.03 - 0.01 0.11 0.03 0.02 0.00 0.02 - 0.01 0.08 0.02 0.02 0.02 0.02 - 0.01 0.05 0.02 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.13 0.11 0.12 - 0.00 0.18 0.09 0.18 0.15 0.17 - 0.01 0.23 0.13 0.02 0.02 0.02 unch 0.00 0.02 0.01 0.04 0.03 0.04 unch 0.00 0.04 0.02 0.25 0.24 0.24 - 0.01 0.56 0.17 0.18 0.18 0.18 - 0.01 0.41 0.14 0.16 0.14 0.15 - 0.01 0.33 0.09 0.74 0.65 0.65 - 0.09 1.16 0.71 1.00 0.85 0.89 - 0.11 1.60 0.90 0.03 0.02 0.03 + 0.01 0.04 0.02 0.00 0.00 0.00 + 0.00 0.00 0.00 0.20 0.20 0.20 unch 0.00 0.20 0.20 1.68 1.64 1.68 + 0.04 5.60 1.46 0.08 0.00 0.07 - 0.01 0.20 0.04 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.07 0.00 0.07 + 0.01 0.09 0.04 0.09 0.08 0.08 - 0.01 0.11 0.05 0.17 0.15 0.17 unch 0.00 0.17 0.06 0.70 0.50 0.57 - 0.03 0.95 0.02 0.00 0.00 0.00 - 0.00 0.00 0.00 0.18 0.15 0.15 - 0.03 0.25 0.05 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.00 0.00 0.00 - 0.00 0.01 0.00 0.13 0.12 0.13 unch 0.00 0.24 0.12 0.10 0.09 0.10 + 0.00 0.18 0.09 0.07 0.05 0.06 - 0.00 0.16 0.02 0.09 0.07 0.09 - 0.01 0.20 0.06 0.01 0.01 0.01 + 0.00 0.03 0.00 0.08 0.04 0.07 + 0.01 0.10 0.01 0.11 0.10 0.10 - 0.01 0.14 0.04 15.79 14.84 15.06 + 0.02 17.78 11.67 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.18 0.14 0.15 - 0.01 0.18 0.04 0.04 0.00 0.03 - 0.01 1.52 0.03 0.05 0.04 0.04 unch 0.00 0.07 0.03

Cabral Gold V 227 Cabral Gold* O 25 Cache Explor V 340 Cadillac Vent* O 0 Cadillac Vent V 42 Cairo Res V 6 Caledonia Mng T 32 Caledonia Mng* X 48 Calibre Mng V 412 Calibre Mng* O 26 California Gld 725 California Gld* O 213 Callinex Mines* O 78 V 425 Callinex Mines Cameco Corp* N 8192 Cameco Corp T 3324 Cameo Cobalt* O 536 Cameo Cobalt V 1235 Camino Min* O 1 Camino Min V 72 Camrova Res* O 7 V 524 Canada Carbon Canada Carbon* O 64 Canada Coal V 500 Canada Cobalt * O 58 Canada Cobalt V 240 Canada One V 6 Canada One* O 24 Canada Rare V 131 Canada Rare* O 2 O 0 Canadian Engy* Canadian Engy V 68 Canadian Metal 138 Canadian Metal* O 50 Canadian Ore V 203 Canadian Ore* O 88 Canadian Prem V 73 Canadian Prem* O 1 V 274 CanAlaska Uran O 110 CanAlaska Uran* Canamex Gold* O 8 Canamex Gold 23 Canarc Res* O 25 Canarc Res T 453 Canasil Res V 830 Candelaria Mg* O 52 V 86 Candelaria Mg Candente Coppr T 345 Candente Gold* O 5 V 237 Candente Gold 3 CANEX Metals * O CANEX Metals V 7 CaNickel Mng V 8 CaNickel Mng* O 3 27 Canoe Mng Vent V Canoe Mng Vent* O 2 Canstar Res* O 127 Canstar Res V 148 Canterra Mnls V 8 Cantex Mn Dev V 120 Cantex Mn Dev* O 11 Canuc Res V 140 Canuc Res* O 1 Capstone Mng T 1757 Caracara Silvr* O 0 Cardero Res V 305 Cardero Res* O 115 Cardinal Res* O 1 Cardinal Res T 66 Cariboo Rose V 504 Carlin Gold V 95 Carrara Explor 2906 Cartier Iron 144 Cartier Res V 242 V 1179 Carube Copper Carube Copper* O 0 Casa Minerals V 316 Casa Minerals * O 166 Cascadero Copp V 132 CAT Strategic 3 Cautivo Mining* O 0 Cautivo Mining 0 CellCube Enrgy* O 1607 CellCube Enrgy 3496 Centamin T 80 Centaurus Diam* O 108 Centenera Mng V 953 Centerra Gold T 2589 Central Iron V 137 Central Tim Ex V 218 Centurion Mnls V 92 Century Cobalt* O 300 O 1 Century Global* Century Global T 3 Cerro Grande* O 39 Cerro Grande 54 Cerro Mng* O 1 Cerro Mng V 3 Ceylon Graph V 21 Chakana Copper V 165 Chakana Copper* O 43 Chalice Gold M* O 28 Chalice Gold M T 121 Champion Bear V 171 Champion Bear* O 4 Champion Iron T 12032 Champion Iron* O 108 Chatham Rock* O 0 Chatham Rock V 87 Chesapeake Gld* O 65 Chesapeake Gld V 42 Chevron Corp* N 36732 Chiboug Ind Mn V 1040 Chiboug Ind Mn* O 6 Chilean Metals V 170 Chilean Metals* O 30 China Gold Int T 1083 CIM Intl Grp 37 Cipher Res V 695 Clarmin Explor V 78 Clean Comm* O 20 Clean Comm V 290

0.16 0.12 0.16 + 0.01 0.35 0.10 0.10 0.10 0.10 unch 0.00 0.27 0.10 0.04 0.04 0.04 unch 0.00 0.07 0.03 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.02 0.00 0.02 - 0.01 0.04 0.01 0.34 0.30 0.30 - 0.04 0.42 0.24 7.93 7.55 7.67 - 0.14 12.26 6.63 5.90 5.80 5.80 unch 0.00 9.48 5.01 0.54 0.49 0.52 + 0.03 0.80 0.30 0.40 0.00 0.38 + 0.01 0.55 0.03 0.62 0.53 0.57 + 0.02 0.79 0.37 0.45 0.39 0.41 - 0.02 0.59 0.13 0.06 0.05 0.05 + 0.00 0.20 0.04 0.08 0.06 0.07 - 0.01 0.26 0.06 10.24 9.97 10.10 - 0.24 13.04 9.39 13.78 13.42 13.59 - 0.26 17.12 12.31 0.09 0.07 0.08 - 0.01 0.80 0.03 0.12 0.10 0.11 - 0.01 0.43 0.05 0.08 0.00 0.08 unch 0.00 0.20 0.07 0.14 0.12 0.13 + 0.01 0.26 0.09 0.01 0.00 0.01 - 0.01 0.08 0.00 0.13 0.11 0.12 unch 0.00 0.18 0.07 0.10 0.00 0.10 + 0.02 0.13 0.00 0.02 0.02 0.02 unch 0.00 0.11 0.02 0.26 0.24 0.25 - 0.01 0.79 0.01 0.36 0.34 0.34 - 0.02 0.90 0.28 0.03 0.03 0.03 unch 0.00 0.12 0.03 0.03 0.00 0.02 - 0.01 0.10 0.02 0.07 0.07 0.07 unch 0.00 0.10 0.04 0.05 0.00 0.05 + 0.01 0.07 0.02 0.00 0.00 0.09 unch 0.00 0.10 0.09 0.07 0.00 0.07 unch 0.00 0.20 0.07 0.06 0.05 0.05 - 0.01 0.20 0.04 0.05 0.05 0.05 unch 0.00 0.06 0.04 0.30 0.23 0.24 - 0.05 0.45 0.14 0.21 0.18 0.18 - 0.03 0.34 0.15 1.40 1.16 1.25 + 0.05 3.98 0.80 0.74 0.74 0.74 unch 0.00 1.15 0.08 0.27 0.23 0.24 - 0.03 0.45 0.23 0.19 0.17 0.18 - 0.02 0.35 0.17 0.03 0.02 0.02 - 0.01 0.11 0.02 0.05 0.04 0.04 unch 0.00 0.15 0.03 0.04 0.03 0.04 - 0.00 0.05 0.02 0.06 0.05 0.05 unch 0.00 0.07 0.03 0.07 0.05 0.05 - 0.01 0.13 0.05 0.18 0.17 0.18 + 0.00 0.52 0.17 0.25 0.20 0.24 + 0.01 0.85 0.20 0.06 0.05 0.06 unch 0.00 0.10 0.05 0.02 0.01 0.01 unch 0.00 0.04 0.01 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.02 0.00 0.02 unch 0.00 0.04 0.02 0.04 0.00 0.04 unch 0.00 0.07 0.03 0.07 0.00 0.07 + 0.01 0.16 0.06 0.04 0.00 0.04 unch 0.00 0.09 0.03 0.03 0.00 0.03 unch 0.00 0.04 0.02 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.03 0.03 0.03 + 0.00 0.19 0.03 0.05 0.00 0.04 unch 0.00 0.30 0.04 0.02 0.00 0.02 unch 0.00 0.04 0.02 3.60 3.30 3.37 + 0.04 4.17 0.15 2.55 0.00 2.50 + 0.26 3.00 0.01 0.05 0.04 0.05 + 0.01 0.19 0.04 0.02 0.02 0.02 unch 0.00 0.15 0.02 0.61 0.56 0.59 - 0.04 1.28 0.48 0.00 0.00 0.09 unch 0.00 0.14 0.06 0.05 0.04 0.04 + 0.01 0.16 0.04 0.03 0.02 0.02 + 0.00 0.12 0.02 0.26 0.26 0.26 unch 0.00 0.41 0.26 0.36 0.00 0.36 unch 0.00 0.50 0.32 0.05 0.05 0.05 unch 0.00 0.05 0.02 0.03 0.00 0.03 unch 0.00 0.04 0.02 0.07 0.06 0.06 - 0.01 0.17 0.03 0.09 0.00 0.09 + 0.01 0.13 0.07 0.12 0.12 0.12 unch 0.00 0.19 0.11 0.05 0.04 0.05 + 0.01 0.10 0.04 0.00 0.00 0.03 unch 0.00 0.07 0.03 0.13 0.10 0.10 - 0.03 0.24 0.10 0.09 0.09 0.09 - 0.00 0.12 0.08 0.03 0.03 0.03 - 0.01 0.08 0.03 0.04 0.04 0.04 unch 0.00 0.15 0.04 0.00 0.00 0.07 unch 0.00 0.20 0.07 0.00 0.00 0.10 unch 0.00 0.39 0.08 0.10 0.08 0.09 + 0.01 0.50 0.06 0.13 0.10 0.12 + 0.02 0.63 0.09 1.59 1.52 1.55 - 0.03 2.82 1.39 0.19 0.15 0.19 + 0.01 1.00 0.05 0.04 0.03 0.03 + 0.01 0.16 0.02 7.88 7.43 7.57 + 0.11 7.88 4.76 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.07 0.06 0.06 - 0.01 0.20 0.06 0.02 0.00 0.02 unch 0.00 0.05 0.01 0.12 0.00 0.08 - 0.00 0.20 0.00 0.16 0.16 0.16 unch 0.00 0.17 0.13 0.22 0.00 0.22 + 0.06 0.22 0.11 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.01 0.00 0.01 unch 0.00 0.02 0.01 0.09 0.00 0.09 - 0.03 0.12 0.09 0.13 0.00 0.13 unch 0.00 0.21 0.13 0.14 0.00 0.14 unch 0.00 0.21 0.12 0.39 0.37 0.38 + 0.01 0.80 0.25 0.30 0.26 0.28 - 0.01 0.62 0.19 0.08 0.00 0.08 - 0.01 0.13 0.08 0.13 0.12 0.13 + 0.01 0.16 0.10 0.20 0.15 0.20 + 0.05 0.25 0.10 0.13 0.13 0.13 unch 0.00 0.17 0.10 2.74 2.18 2.67 + 0.38 2.55 0.89 2.02 1.62 2.02 + 0.33 1.89 0.70 0.00 0.00 0.11 unch 0.00 0.21 0.10 0.14 0.13 0.13 - 0.01 0.29 0.13 1.25 1.10 1.14 - 0.07 1.98 1.10 1.69 1.52 1.52 - 0.07 2.65 1.51 122.49 119.88 120.52 - 1.47 130.39 100.22 0.17 0.15 0.16 - 0.01 0.27 0.04 0.12 0.11 0.11 - 0.01 0.19 0.03 0.03 0.03 0.03 unch 0.00 0.18 0.03 0.02 0.02 0.02 - 0.00 0.12 0.01 1.78 1.50 1.52 - 0.16 2.69 1.46 0.19 0.19 0.19 unch 0.00 0.63 0.19 0.04 0.04 0.04 unch 0.00 0.14 0.03 0.12 0.11 0.12 unch 0.00 0.20 0.10 0.03 0.03 0.03 unch 0.00 0.05 0.01 0.03 0.03 0.03 unch 0.00 0.07 0.03

C

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

V 92 Cleghorn Mnls O 30 Cleghorn Mnls* Cleveland-Clif* N 51151 Cliffmont Res V 38 Clifton Mng* O 284 Cloud Peak En* O 15217 CMC Metals* O 2 CMC Metals V 2 28 CMX Gold & Sil* O 107 CMX Gold & Sil CNRP Mng 262 CNRP Mng* O 226 640 Cobalt 27 Cap V Cobalt Block V 20 Cobalt Block* O 43 12669 Coeur Mng* N Colibri Res* O 10 Colibri Res V 55 V 7 Colombia Crest O 7 Colombia Crest* Colonial Coal V 477 Colorado Res V 1465 O 375 Colorado Res* Colt Res* O 1 T 237 Columbus Gold O 285 Columbus Gold* V 76 Commander Res O 7 Commander Res* O 95 Commerce Res* V 240 Commerce Res O 78 Compass Gold* V 2116 Compass Gold X 7268 Comstock Mng* V 227 Comstock Mtls Condor Gold* O 13 Condor Gold T 0 Condor Res V 87 Condor Res* O 158 O 3 Confedertn Ml* V 103 Confedertn Mls 43 Conquest Res * O V 373 Conquest Res V 145 Cons Woodjam CONSOL Coal Rs* N 158 CONSOL Energy* N 16730 N 1367 CONSOL Energy* O 30 Constantine Mt* V 62 Constantine Mt O 37 Contact Gold* Contact Gold V 84 O 84 Contact Mnrls* Contintl Gold* O 87 Contintl Gold T 1210 1 Copper Fox Mtl* O 89 Copper Fox Mtl V 356 Copper Lake Rs V Copper Mtn Mng T 1642 80 Copper Mtn Mng* O 2 Copper North M* O 4 Copper North M V 75 Copper Reef Mg Copperbank Res 929 O 613 Copperbank Res* 36 Coral Gold * O Coral Gold V 174 Cordoba Mnls V 154 O 12 Cordoba Mnls* Core Gold V 657 Core Gold* O 426 Core Lithium* O 5 V 217 Cornerstone Ca O 17 Cornerstone Ca* Coro Mining T 658 Corsa Coal V 108 Corsa Coal * O 14 Corvus Gold* O 30 Corvus Gold T 219 CR Capital V 3 0 Crazy Horse Res* O Crest Resource 348 Cresval Cap V 597 Critical Elem* O 16 Critical Elem V 677 V 271 CROPS O 0 Crown Mining* Crown Mining V 54 Cruz Cobalt V 501 Cruz Cobalt* O 231 Crystal Lake V 1187 Crystal Lake* O 192 Crystal Peak* O 24 Crystal Peak V 37 O 4 CTGX Mining* 117 Currie Rose Rs V Cypress Dev V 865 Cypress Dev* O 27

0.06 unch 0.00 0.14 0.07 0.07 0.07 0.04 unch 0.00 0.11 0.05 0.04 0.04 10.24 9.47 10.02 - 0.23 13.10 7.40 0.11 unch 0.00 0.90 0.13 0.13 0.13 0.04 0.15 0.09 0.10 - 0.03 0.19 0.11 0.04 0.07 + 0.01 4.10 0.03 0.01 unch 0.00 0.06 0.05 0.05 0.05 0.04 0.08 0.00 0.08 - 0.01 0.11 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.08 0.04 0.04 - 0.04 0.12 0.04 0.27 0.37 0.35 0.36 + 0.01 2.02 0.20 0.27 0.25 0.26 + 0.00 1.58 4.09 3.91 4.00 + 0.01 12.49 3.27 0.07 unch 0.00 0.32 0.09 0.08 0.09 0.05 0.07 0.06 0.07 - 0.00 0.25 3.03 3.25 3.00 3.08 - 0.05 8.55 0.01 unch 0.00 0.05 0.04 0.00 0.04 0.03 unch 0.00 0.08 0.06 0.05 0.05 0.11 0.24 0.00 0.24 - 0.01 0.41 0.03 0.17 0.17 0.17 - 0.01 0.21 0.21 0.50 0.39 0.50 + 0.05 0.65 0.05 0.09 0.08 0.09 + 0.01 0.17 0.03 0.07 0.06 0.06 - 0.00 0.13 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.16 unch 0.00 0.32 0.18 0.16 0.17 0.11 0.14 0.12 0.13 + 0.00 0.25 0.07 unch 0.00 0.22 0.09 0.00 0.09 0.05 0.06 0.05 0.06 + 0.00 0.16 0.04 0.05 0.04 0.05 + 0.00 0.06 0.05 0.06 0.05 0.06 + 0.01 0.08 0.18 0.26 0.18 0.20 - 0.04 0.40 0.11 0.42 0.25 0.27 - 0.09 0.74 0.12 0.27 0.20 0.21 - 0.03 0.38 0.03 0.03 0.03 0.03 + 0.01 0.08 0.25 0.36 0.36 0.36 + 0.10 0.51 0.33 unch 0.00 0.86 0.00 0.00 0.34 0.04 unch 0.00 0.09 0.05 0.04 0.04 0.03 unch 0.00 0.07 0.03 0.03 0.03 0.09 unch 0.00 0.28 0.20 0.00 0.20 0.12 0.37 0.27 0.34 + 0.09 0.40 0.01 0.01 0.01 unch 0.00 0.03 0.00 0.01 unch 0.00 0.04 0.02 0.02 0.02 0.03 0.06 0.05 0.05 - 0.01 0.09 17.53 16.64 16.76 - 0.80 21.13 14.58 9.33 8.47 8.47 - 0.67 18.37 8.44 28.77 31.38 28.77 28.97 - 2.65 48.12 0.28 0.43 0.39 0.40 + 0.03 0.65 0.39 0.63 0.52 0.54 + 0.04 0.83 0.14 0.15 0.14 0.14 - 0.01 0.38 0.18 0.21 0.19 0.21 + 0.02 0.50 0.02 0.15 0.10 0.15 + 0.05 0.45 1.33 2.05 1.90 1.92 - 0.08 3.02 1.76 2.82 2.57 2.62 - 0.05 3.98 0.08 0.00 0.08 + 0.01 0.10 0.06 0.10 0.00 0.09 - 0.01 0.13 0.08 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.95 0.88 0.89 - 0.08 1.45 0.65 0.71 0.66 0.66 - 0.04 1.12 0.48 0.03 0.00 0.03 - 0.01 0.05 0.02 0.04 0.00 0.04 unch 0.00 0.07 0.03 0.02 0.02 0.02 unch 0.00 0.03 0.02 0.04 0.05 0.04 0.05 + 0.01 0.10 0.03 0.03 0.03 0.03 - 0.00 0.08 0.30 0.29 0.29 - 0.00 0.34 0.24 0.32 0.40 0.38 0.38 + 0.01 0.44 0.09 0.10 0.10 0.10 - 0.01 0.24 0.06 0.08 0.00 0.08 - 0.00 0.18 0.19 0.29 0.27 0.27 - 0.02 0.35 0.14 0.22 0.20 0.21 - 0.00 0.28 0.11 unch 0.00 0.79 0.14 0.00 0.14 0.14 0.34 0.32 0.32 - 0.04 0.40 0.03 0.26 0.25 0.25 - 0.01 0.29 0.05 0.11 0.09 0.10 - 0.01 0.12 0.61 unch 0.00 1.45 0.85 0.83 0.84 0.37 0.63 0.61 0.61 - 0.01 1.11 1.13 1.35 1.15 1.21 + 0.03 2.72 1.55 1.80 1.55 1.68 + 0.08 3.39 0.02 unch 0.00 0.10 0.07 0.00 0.07 0.00 0.00 0.10 unch 0.00 0.13 0.08 0.10 0.13 0.10 0.10 - 0.06 0.16 0.02 unch 0.00 0.05 0.03 0.03 0.03 0.33 0.37 0.00 0.37 + 0.02 0.83 0.44 unch 0.00 1.11 0.52 0.46 0.48 0.02 unch 0.00 0.07 0.03 0.00 0.02 0.05 unch 0.00 0.10 0.00 0.00 0.05 0.07 0.07 0.00 0.07 - 0.01 0.17 0.05 unch 0.00 0.20 0.05 0.05 0.05 0.03 0.04 0.03 0.04 + 0.01 0.16 0.24 0.41 0.35 0.38 + 0.03 0.77 0.18 0.29 0.27 0.28 + 0.02 0.58 0.11 0.13 0.11 0.13 + 0.00 0.34 0.16 0.17 0.16 0.16 - 0.01 0.44 0.10 unch 0.00 0.10 0.10 0.00 0.10 0.08 0.05 0.08 + 0.03 0.12 0.05 0.17 0.24 0.21 0.22 - 0.02 0.42 0.12 0.17 0.16 0.17 - 0.00 0.32

Dajin Res V 165 Dajin Res* O 295 Dakota Ter Res* O 166 Daleco Res* O 865 O 0 Damara Gold* Danakali* O 30 Debut Dmds 44 Decade Res V 326 Decade Res* O 0 O 0 Deep-South Res* V 666 Deep-South Res DeepRock Min 74 O 23 Defense Metals* V 228 Defense Metals Defiance Silvr V 814 O 145 Defiance Silvr* Delrand Res V 141 Delrey Metals * O 151 Delrey Metals 617 T 1276 Denison Mines X 2401 Denison Mines* Desert Gold* O 18 Desert Gold V 164 Desert Lion* O 25 Desert Lion V 149 150 Desert Mtn Egy V Detour Gold T 3919 O 678 Diamante Min* Diamcor Mng V 646 O 9 Diamcor Mng* O 259 Diamond Disc* V 137 Diamond Fields O 39 Diamond Fields* Dios Expl V 580 V 75 Discovery Harb O 27 Discovery Met* V 225 Discovery Met 71822 O Discovery Mnls* V 26 Discovery-Corp District Cop V 2313 District Cop* O 18 Ditem Explor* O 13 O 63 Diversified Rs* DNI Metals 150 DNI Metals* O 105 O 86 Dolat Ventures* Dolly Vard Sil* O 119 320 Dolly Vard Sil V O 10 Doubleview Cap* V 427 Doubleview Cap DRDGOLD* N 265 0 Duncan Park H V Dundee Prec Mt T 1115 O 30 Dunnedin Vent* Durango Res V 202 Durango Res* O 56 DV Resources V 287 106 Dynacor Gld Mn T 16 Dynacor Gld Mn* O O 6 DynaResource* Dynasty Gold V 55 O 52 Dynasty Gold* O 1 E-Energy Vent* E3 Metals V 152 E3 Metals* O 2 V 312 Eagle Graphite O 6 Eagle Graphite* Eagle Plains V 228 302 V East Africa 1 East Africa * O

0.04 0.05 0.04 0.05 + 0.01 0.12 0.03 0.04 0.03 0.03 - 0.00 0.09 0.08 0.03 0.05 unch 0.00 0.19 0.02 0.00 0.00 0.00 0.00 + 0.00 0.00 0.03 unch 0.00 0.03 0.00 0.00 0.03 0.44 0.55 0.51 0.53 - 0.00 0.69 0.01 0.02 0.01 0.02 + 0.01 0.02 0.03 unch 0.00 0.10 0.03 0.03 0.03 0.02 unch 0.00 0.07 0.00 0.00 0.03 0.06 unch 0.00 0.18 0.00 0.00 0.06 0.06 0.09 0.06 0.06 - 0.03 0.30 0.04 0.05 0.00 0.04 - 0.01 0.10 0.09 0.11 0.09 0.09 - 0.02 0.25 0.12 0.15 0.14 0.14 - 0.01 0.25 0.17 0.22 0.18 0.18 - 0.02 0.38 0.12 0.16 0.13 0.13 - 0.02 0.29 0.25 0.58 0.45 0.57 + 0.02 0.80 0.30 0.13 0.30 + 0.16 0.16 0.13 0.16 0.22 0.17 0.20 + 0.02 0.50 0.58 0.71 0.66 0.70 + 0.03 0.89 0.44 0.52 0.49 0.52 + 0.02 0.69 0.12 unch 0.00 0.21 0.14 0.14 0.14 0.14 0.21 0.18 0.19 - 0.02 0.26 0.05 unch 0.00 1.07 0.10 0.10 0.10 0.04 0.15 0.13 0.14 + 0.01 1.40 0.19 0.17 0.18 + 0.01 0.27 0.13 12.75 11.94 12.30 + 0.34 14.59 9.38 0.01 0.03 0.03 0.03 - 0.01 0.24 0.09 0.19 0.15 0.15 - 0.01 0.50 0.07 0.13 0.00 0.12 - 0.02 0.41 0.00 0.00 0.00 0.00 + 0.00 0.00 0.07 0.19 0.00 0.14 - 0.01 0.19 0.04 0.12 0.07 0.12 + 0.01 0.12 0.05 unch 0.00 0.09 0.06 0.06 0.06 0.01 unch 0.00 0.08 0.05 0.05 0.05 0.14 unch 0.00 0.32 0.16 0.00 0.16 0.17 0.25 0.20 0.25 + 0.02 0.42 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.01 unch 0.00 0.03 0.01 0.00 0.01 0.02 unch 0.00 0.21 0.05 0.04 0.05 0.01 unch 0.00 0.16 0.03 0.00 0.03 0.00 0.00 0.00 0.00 - 0.00 0.00 0.01 0.00 0.05 0.01 - 0.01 0.01 0.04 unch 0.00 0.11 0.05 0.05 0.05 0.03 unch 0.00 0.08 0.05 0.04 0.05 0.10 0.65 0.39 0.57 - 0.05 2.14 0.19 0.16 0.16 - 0.04 0.48 0.16 0.25 0.22 0.22 - 0.04 0.61 0.22 0.07 unch 0.00 0.13 0.10 0.10 0.10 0.07 0.14 0.13 0.13 - 0.01 0.18 1.71 1.87 1.73 1.77 - 0.12 2.95 0.00 0.00 0.07 unch 0.00 0.60 0.07 4.15 3.89 4.01 - 0.02 4.89 2.56 0.05 unch 0.00 0.18 0.07 0.06 0.07 0.04 0.07 0.06 0.07 + 0.01 0.10 0.04 0.05 0.04 0.04 - 0.01 0.07 0.06 unch 0.00 0.30 0.06 0.06 0.06 1.75 1.66 1.71 + 0.02 1.93 1.41 1.30 1.24 1.25 - 0.00 1.48 1.02 0.75 unch 0.00 1.25 1.08 1.00 1.08 0.08 0.11 0.00 0.08 - 0.03 0.24 0.05 0.07 0.05 0.05 - 0.01 0.18 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.23 0.44 0.39 0.43 + 0.02 0.58 0.22 unch 0.00 0.38 0.34 0.34 0.34 0.06 0.07 0.00 0.05 - 0.03 0.21 0.05 unch 0.00 0.16 0.05 0.00 0.05 0.08 0.09 0.08 0.08 - 0.01 0.17 0.19 0.16 0.19 + 0.01 0.29 0.14 0.14 0.12 0.12 - 0.02 0.18 0.10

D-F

2019-05-21 10:59 AM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / MAY 27–JUNE 9, 2019

Week

12-month

Exc Volume High Low Last Change High Low

East Asia Mnls* O 1 0.04 0.00 0.04 + 0.00 0.08 0.02 East Asia Mnls V 124 0.06 0.06 0.06 unch 0.00 0.10 0.03 EastCoal Inc V 32 0.10 0.05 0.05 unch 0.00 0.30 0.05 Eastern Platin* O 22 0.16 0.16 0.16 unch 0.00 0.26 0.12 Eastern Platin T 48 0.24 0.00 0.24 + 0.02 0.35 0.17 Eastfield Res V 256 0.06 0.05 0.05 unch 0.00 0.07 0.03 Eastmain Res* O 80 0.09 0.08 0.09 + 0.00 0.23 0.07 Eastmain Res T 765 0.13 0.11 0.12 + 0.01 0.28 0.11 Eco Oro Mnls 12 0.11 0.00 0.11 unch 0.00 0.27 0.10 0 0.00 0.00 0.07 unch 0.00 0.77 0.00 Eco Oro Mnls* O eCobalt Solns T 395 0.33 0.30 0.32 + 0.02 1.42 0.25 O 480 0.25 0.22 0.23 - 0.00 1.11 0.19 eCobalt Solns* Edgewater Expl V 5 0.10 0.10 0.10 unch 0.00 0.17 0.10 O 1 0.05 0.05 0.05 - 0.00 0.19 0.03 Edison Cobalt* Edison Cobalt V 679 0.06 0.05 0.05 - 0.02 0.25 0.04 El Capitan Prc* O 1298 0.03 0.01 0.02 + 0.00 0.03 0.00 El Nino Vent V 368 0.04 0.03 0.03 - 0.01 0.06 0.03 Elcora Adv Mat V 93 0.09 0.08 0.08 unch 0.00 0.31 0.06 Elcora Res* O 108 0.07 0.05 0.07 + 0.01 0.25 0.05 Eldorado Gold* N 8594 3.88 3.52 3.53 + 0.03 6.05 2.52 Eldorado Gold T 4506 5.22 4.74 4.80 + 0.11 7.75 3.36 Eloro Res* O 115 0.15 0.13 0.15 + 0.02 0.53 0.13 Eloro Res V 87 0.21 0.16 0.20 - 0.02 0.72 0.15 Ely Gold Royal V 403 0.20 0.16 0.16 - 0.04 0.20 0.09 Ely Gold Royal* O 357 0.15 0.12 0.13 - 0.02 0.15 0.07 0.31 Elysee Dev V 8 0.37 0.36 0.37 + 0.01 0.42 3 0.28 0.26 0.26 - 0.00 0.33 0.23 Elysee Dev * O Emerita Res V 1780 0.15 0.02 0.15 + 0.05 0.50 0.08 Emgold Mining V 54 0.18 0.00 0.17 - 0.01 0.22 0.05 O 13 0.14 0.10 0.10 - 0.03 0.15 0.03 Emgold Mining* Empire Metals V 184 0.17 0.00 0.17 - 0.01 0.23 0.11 0.92 EMX Royalty* X 561 1.26 1.17 1.24 + 0.04 1.47 EMX Royalty V 74 1.69 1.57 1.64 + 0.09 1.80 1.20 Encanto Potash* O 23 0.07 0.07 0.07 + 0.00 0.22 0.02 Encanto Potash V 135 0.11 0.10 0.11 unch 0.00 0.30 0.10 EnCore Energy V 897 0.15 0.12 0.15 + 0.01 0.21 0.05 Endeavour Mng T 887 20.51 19.29 19.64 - 0.25 24.65 16.34 O 3 15.10 14.11 14.58 - 0.46 18.87 12.38 Endeavour Mng* Endeavr Silver* N 5678 1.96 1.75 1.81 - 0.05 3.35 1.76 Endeavr Silver T 1186 2.64 2.36 2.44 - 0.07 4.40 2.27 Endurance Gold* O 416 0.03 0.03 0.03 + 0.00 0.06 0.02 V 382 0.04 0.03 0.03 - 0.01 0.09 0.03 Endurance Gold Energy Fuels* X 4661 2.81 2.52 2.75 + 0.04 4.09 1.82 Energy Fuels T 1350 3.77 3.39 3.68 + 0.03 5.38 2.36 Enforcer Gold V 51 0.04 0.04 0.04 unch 0.00 0.23 0.04 V 206 0.12 0.12 0.12 unch 0.00 0.13 0.05 Engineer Gold Engold Mines V 351 0.11 0.09 0.09 - 0.01 0.26 0.09 Engold Mines* O 25 0.07 0.00 0.07 + 0.01 0.20 0.06 Ensurge* O 3 0.04 0.03 0.04 + 0.01 0.09 0.02 0.31 Entree Res* X 461 0.35 0.33 0.34 + 0.00 0.48 Entree Res T 2013 0.48 0.45 0.45 - 0.01 0.61 0.41 O 2 0.04 0.00 0.04 unch 0.00 0.23 0.04 ePower Metals* Equinox Gold V 1177 1.16 1.07 1.10 + 0.04 1.37 0.85 Equitorial Ex V 406 0.04 0.03 0.04 + 0.01 0.10 0.02 0.26 0.19 0.19 unch 0.00 0.53 0.18 Erdene Res Dev T 1551 Erdene Res Dev* O 89 0.19 0.13 0.15 + 0.01 0.40 0.13 Erin Ventures* O 4 0.06 0.06 0.06 unch 0.00 0.22 0.06 Erin Ventures V 101 0.09 0.09 0.09 - 0.01 0.30 0.08 Ero Copper T 837 17.86 16.41 17.45 + 0.62 18.66 7.62 Ero Copper* O 3 13.10 0.00 12.97 + 0.40 13.71 5.84 Eros Res Corp* O 4 0.06 0.00 0.06 - 0.00 0.09 0.05 55 0.09 0.00 0.09 - 0.01 0.12 0.07 Eros Res Corp V 55 0.09 0.00 0.09 - 0.01 0.12 0.07 Eros Res Corp V Eskay Mng V 4 0.09 0.00 0.09 unch 0.00 0.38 0.07 Essex Minerals V 68 0.05 0.05 0.05 unch 0.00 0.13 0.03 Ethos Gold* O 186 0.15 0.09 0.15 + 0.04 0.25 0.09 0.12 Ethos Gold V 954 0.22 0.13 0.21 + 0.06 0.34 Etruscus Res 58 0.40 0.40 0.40 unch 0.00 0.50 0.24 Euro Manganese V 765 0.22 0.20 0.22 + 0.02 0.44 0.15 Euro Sun Mg* O 224 0.41 0.31 0.37 + 0.00 1.00 0.17 0.55 0.43 0.50 + 0.02 1.30 0.23 Euro Sun Mg T 1565 EurOmax Res* O 31 0.09 0.00 0.05 unch 0.00 0.16 0.01 EurOmax Res T 247 0.09 0.08 0.09 + 0.02 0.21 0.02 European Elect* O 147 0.04 0.03 0.04 + 0.00 0.27 0.03 V 240 0.06 0.05 0.06 unch 0.00 0.35 0.05 European Elect European Metal* O 1165 0.00 0.00 0.00 unch 0.00 0.00 0.00 Eurotin V 68 0.01 0.01 0.01 unch 0.00 0.13 0.01 Everton Res* O 12 0.03 0.01 0.02 + 0.00 0.04 0.01 0.02 Everton Res V 33 0.04 0.00 0.03 - 0.01 0.05 EVI Global Grp 714 1.36 1.18 1.32 + 0.11 1.64 0.16 Evolving Gold* O 10 0.06 0.00 0.00 - 0.00 0.12 0.00 0.27 Evrim Res V 87 0.30 0.28 0.29 - 0.01 1.63 0.44 Excellon Res* O 67 0.56 0.52 0.55 - 0.00 1.25 Excellon Res T 120 0.75 0.70 0.71 - 0.04 1.62 0.59 Excelsior Mng* O 159 0.74 0.66 0.71 + 0.03 1.14 0.53 Excelsior Mng T 225 0.97 0.88 0.97 + 0.07 1.49 0.71 102 0.01 0.01 0.01 unch 0.00 0.03 0.01 ExGen Res Inc V Explor Res* O 189 0.02 0.01 0.02 + 0.00 0.04 0.01 Explor Res V 285 0.03 0.02 0.02 unch 0.00 0.04 0.02 Explorex Res 249 0.27 0.24 0.24 - 0.03 0.45 0.21 0.18 Explorex Res* O 55 0.20 0.18 0.19 - 0.01 0.28 O 0 0.00 0.00 0.00 unch 0.00 0.00 0.00 Fairmile Gold* Falco Res V 812 0.24 0.22 0.23 - 0.02 0.67 0.21 Falco Res * O 349 0.20 0.17 0.17 - 0.03 0.52 0.10 0.03 Falcon Gold V 607 0.03 0.03 0.03 + 0.01 0.06 Fancamp Expl V 1192 0.11 0.09 0.10 + 0.01 0.11 0.04 Far Res 1002 0.10 0.09 0.09 unch 0.00 0.39 0.06 Far Res* O 107 0.07 0.06 0.07 - 0.01 0.88 0.04 O 1 0.02 0.00 0.02 unch 0.00 0.11 0.01 Fengro Industr* Fengro Industr V 3 0.03 0.00 0.03 unch 0.00 0.18 0.03 Fidelity Min V 146 0.05 0.05 0.05 unch 0.00 0.10 0.03 0.03 Fidelity Min* O 3 0.03 0.03 0.03 + 0.00 0.06 13 2.07 2.05 2.05 - 0.03 2.07 1.55 Filo Mg Corp * O Filo Mg Corp V 62 2.81 2.80 2.80 unch 0.00 2.99 2.00 Finlay Minrls V 2009 0.04 0.03 0.04 + 0.01 0.05 0.02 0.16 Fiore Gold* O 55 0.21 0.18 0.19 - 0.00 0.47 Fiore Gold V 203 0.27 0.26 0.26 - 0.01 0.60 0.21 Fire River Gol* O 117 0.38 0.00 0.02 + 0.01 2.41 0.00 unch 0.00 0.05 0.02 Firebird Res V 2 0.00 0.00 0.02 FireFox Gold V 25 0.15 0.00 0.15 - 0.02 0.39 0.12 Firestone Vent V 16 0.06 0.00 0.06 unch 0.00 0.11 0.04 Fireweed Zinc V 171 0.68 0.64 0.65 - 0.02 2.14 0.64 Fireweed Zinc* O 12 0.49 0.48 0.48 - 0.00 1.64 0.48 Firma Holdings* O 48 0.02 0.02 0.02 + 0.00 0.07 0.01 First Cobalt * O 474 0.12 0.10 0.11 - 0.00 0.63 0.10 First Cobalt V 3702 0.16 0.14 0.15 - 0.01 0.82 0.14 First Colombia* O 20475 0.00 0.00 0.00 - 0.00 0.00 0.00 First Energy 2 0.18 0.00 0.18 - 0.02 0.20 0.15 First Energy* O 2 0.14 0.11 0.11 - 0.01 0.32 0.08 First Majestic* N 11678 6.07 5.70 5.86 - 0.02 8.48 4.59 First Majestic T 2557 8.18 7.68 7.90 - 0.01 11.09 6.12 unch 0.00 0.06 0.01 First Mexican V 635 0.01 0.01 0.01 First Mg Fin T 2082 0.32 0.26 0.26 - 0.06 0.53 0.21 First Mg Fin * O 1379 0.26 0.19 0.20 - 0.03 0.42 0.16 First Point* O 13 0.10 0.10 0.10 unch 0.00 0.12 0.06 First Quantum T 13178 12.17 11.50 11.85 - 0.60 23.05 9.45 V 821 0.51 0.39 0.40 - 0.10 1.96 0.39 First Vanadium First Vanadium* O 390 0.39 0.30 0.30 - 0.08 1.60 0.30 V 2069 0.10 0.09 0.09 unch 0.00 0.30 0.08 Fission 3.0 Fission 3.0* O 166 0.07 0.06 0.07 + 0.00 0.22 0.06 0.35 Fission Uran* O 753 0.40 0.36 0.39 + 0.01 0.60 Fission Uran T 1006 0.53 0.48 0.51 unch 0.00 0.78 0.47 Fjordland Exp* O 17 0.07 0.05 0.06 - 0.01 0.24 0.04 Fjordland Exp V 90 0.08 0.07 0.08 - 0.02 0.33 0.06 Flowery Gold* O 3 0.09 0.09 0.09 unch 0.00 0.30 0.09 Focus Graphite* O 318 0.03 0.02 0.03 unch 0.00 0.04 0.01 Focus Graphite V 150 0.04 0.03 0.04 unch 0.00 0.06 0.02 Foran Mng V 33 0.33 0.30 0.30 - 0.02 0.51 0.23 Forsys Metals T 170 0.20 0.17 0.19 unch 0.00 0.32 0.10 Fort St J Nick V 2 0.17 0.00 0.17 unch 0.00 0.48 0.12 Fort St James* O 1 0.12 0.00 0.11 - 0.02 0.23 0.09 Fortescue Met* O 19 6.20 5.16 6.20 + 0.99 5.88 2.53 3.41 Fortuna Silvr T 2034 3.98 3.41 3.56 - 0.27 7.78 Fortuna Silvr* N 8144 2.95 2.53 2.64 - 0.22 5.94 2.53 Fortune Bay V 5 0.23 0.00 0.23 - 0.03 0.41 0.19 Fortune Bay* O 4 0.19 0.00 0.16 - 0.01 0.31 0.10 Fortune Mnrls* O 263 0.08 0.07 0.08 + 0.00 0.17 0.05 Fortune Mnrls T 468 0.11 0.10 0.11 + 0.01 0.23 0.07 Forum Energy V 1267 0.06 0.05 0.06 - 0.01 0.09 0.03 Forum Energy* O 42 0.05 0.03 0.05 - 0.00 0.06 0.02 Four Nines 5 0.20 0.20 0.20 unch 0.00 0.60 0.10 Fox River Res 20 0.06 0.06 0.06 unch 0.00 0.10 0.06 Fox River Res* O 1 0.06 0.06 0.06 unch 0.00 0.06 0.04 FPX Nickel V 224 0.13 0.00 0.13 + 0.01 0.18 0.08 Franco-Nevada* N 3051 76.90 73.39 75.92 + 2.84 78.82 58.26 Franco-Nevada T 2675 103.59 98.58 102.22 + 4.05 105.04 76.53 Franklin Mng* O 43 0.00 0.00 0.00 - 0.00 0.00 0.00 Freedom Egy V 220 0.02 0.00 0.02 unch 0.00 0.09 0.02 Freegold Vent T 88 0.06 0.05 0.06 unch 0.00 0.13 0.05 Freeport McMoR* N 103798 11.03 10.29 10.37 - 1.00 18.38 9.60 0.06 Freeport Res V 52 0.09 0.08 0.08 - 0.01 0.11 Fremont Gold V 12 0.09 0.00 0.09 - 0.01 0.19 0.08 Fremont Gold* O 51 0.08 0.06 0.08 unch 0.00 0.18 0.06 Fresnillo plc* O 14 9.69 9.23 9.29 - 0.10 17.87 9.23 Frontier Lith V 58 0.36 0.33 0.34 + 0.01 0.49 0.30 Frontline Gold V 144 0.01 0.01 0.01 - 0.01 0.02 0.01 Full Metal Mnl* O 1 0.00 0.00 0.00 - 0.00 0.00 0.00 Fura Gems V 153 0.27 0.19 0.22 - 0.02 0.52 0.22 Fura Gems* O 62 0.18 0.00 0.15 - 0.03 0.41 0.18

G-H G2 Goldfields* O 10 G2 Goldfields V 1190 Gabriel Res* O 23 Gabriel Res V 26

0.20 0.20 0.20 unch 0.00 0.22 0.04 0.43 0.27 0.30 - 0.11 0.43 0.10 0.33 0.31 0.32 + 0.00 0.35 0.20 0.49 0.43 0.43 - 0.01 0.49 0.29

20-23_MAY27_StockTables.indd 21

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Gainey Capital V 548 Galane Gold V 518 Galane Gold * O 243 Galantas Gold V 118 O 10 Galantas Gold* Galore Res V 227 4 Galway Gold * O Galway Gold V 56 Galway Mtls* O 101 Galway Mtls V 433 GAR Limited 5165 Garibaldi Res V 199 62 Garibaldi Res * O Gatling Explor V 499 O 64 Gatling Explor* General Moly T 71 General Moly* X 7269 Generation Min* O 48 Generation Min 235 Genesis Mtls* O 20 Genesis Mtls V 587 Genius Metals 81 V 525 Gensource Pot Gentor Res V 22 V 344 Geomega Res Geomega Res* O 16 85 Gespeg Cop Res V Getchell Gold * O 73 Getchell Gold 91 Getty Copper V 3 V 193 GFG Resources GFG Resources* O 49 GFM Res V 2 GGL Res V 9 GGL Res* O 25 GGX Gold* O 6 GGX Gold V 324 Giga Metals* O 22 Giga Metals V 202 Gitennes Expl V 485 Giyani Gold V 893 Giyani Gold* O 47 V 180 GK Resources Glacier Lake V 125 O 126 Gldn Predator* Gldn Predator V 499 246 Glen Eagle Res V Glencore Plc* O 1390 Global Atomic T 200 Global Atomic* O 261 V 118 Global Battery Global Battery* O 63 O 591 Global Energy* Global Energy V 1753 Global Gold* O 0 Global Li-Ion* O 37 Global Li-Ion 492 GlobalMin Vent* O 1 Globex Mng* O 12 Globex Mng T 17 GMV Minerals V 68 GMV Minerals* O 7 O 122742 GNCC Capital* Go Cobalt* O 26 Go Cobalt 81 GobiMin V 146 3 God’s Lake Res GoGold Res T 1348 O 63 Gold Dynamics* Gold Fields* N 21072 Gold Finder Ex V 4158 Gold Finder Ex* O 3 Gold Lakes* O 7 Gold Reserve V 9 O 12 Gold Reserve* Gold Resource* X 2942 87 Gold Rush Cari V Gold Rush Cari* O 14 663 Gold Std Vents T Gold Std Vents* X 1177 V 0 Goldbank Mng Goldbank Mng* O 0 Goldcliff Res* O 11 Goldcliff Res V 35 Golden Arrow V 99 Golden Arrow* O 103 Golden Band* O 235 Golden Cariboo V 20 372 Golden Dawn Ml V Golden Dawn Ml* O 76 V 110 Golden Goliath Golden Goliath* O 19 Golden Harp* O 0 Golden Harp V 65 Golden Hope V 95 Golden Hope* O 4 Golden Lake 23 Golden Mnls T 20 Golden Mnls* X 455 Golden Pursuit* O 25 V 25 Golden Pursuit Golden Queen T 1063 O 3087 Golden Queen* Golden Ridge V 1456 V 114 Golden Secret Golden Share V 50 Golden Star T 95 Golden Star* X 1021 Golden Tag V 20 Golden Valley* O 126 Golden Valley V 219 Goldex Res* O 3 Goldex Res V 58 Goldgroup Mng T 1232 O 694 Goldgroup Mng* GoldMining* O 211 GoldMining T 459 GoldON Res V 2 GoldON Res* O 3 Goldplay Expl V 592 O 173 Goldplay Expl* GoldQuest Mng V 110 Goldrea Res 460 Goldrea Res* O 73 O 43 Goldrich Mng* Goldsource Min* O 238 V 1124 Goldsource Min Goldstar Mnls V 316 V 1578 Goldstream Mnl Goldstrike Res V 87 GoldTrain Res 97 Goliath Res V 232 Goliath Res* O 37 Gossan Res V 260 O 1062 GoviEx Uranium* GoviEx Uranium V 1283 Gowest Gold* O 3031 Gowest Gold V 1111 GPM Metals* O 9 GPM Metals V 36 O 51 Gran Colombia* Gran Colombia T 1071 Granada Gold V 319 Granada Gold* O 3 V 357 Grande Portage Grande Portage* O 49 Granite Creek V 181 Graphite Egy* O 264 Graphite Egy 68 Graphite One* O 104 Graphite One V 100 Gratomic V 7272 17 Gray Rock Res V Great Atlantic V 120 554 Great Bear Res V Great Bear Res* O 133 72 Great Lakes Gr* O Great Panther T 592 X 3069 Great Panther* Great Thunder V 144 V 64 Greatbanks Re Greatbanks Res* O 0 Green River 303 Green Swan Cap V 107 90 Green Valley M V Greencastle Rs V 74 O 854 Greenland M&En* Greenshield Ex V 113 O 0 Grenville Gold* Grid Metals V 207 Grid Metals* O 53 Grizzly Discvr* O 31 Grizzly Discvr V 32 Grosvenor Res V 0 Group Eleven V 323 Group Ten Mtls* O 69

0.13 0.10 0.10 - 0.03 0.16 0.04 0.05 0.04 0.05 + 0.01 0.07 0.04 0.04 0.03 0.03 + 0.00 0.05 0.03 0.08 0.07 0.08 + 0.01 0.15 0.07 0.06 0.06 0.06 unch 0.00 0.10 0.06 0.03 0.02 0.02 - 0.01 0.05 0.01 0.08 0.08 0.08 + 0.00 0.12 0.07 0.12 0.11 0.12 + 0.01 0.26 0.10 0.24 0.22 0.24 + 0.03 0.30 0.10 0.34 0.31 0.32 + 0.02 0.44 0.13 0.07 0.05 0.06 + 0.01 0.22 0.04 0.75 0.70 0.70 - 0.02 3.45 0.70 0.56 0.52 0.53 - 0.01 2.66 0.51 0.39 0.32 0.38 + 0.06 0.58 0.13 0.27 0.24 0.27 + 0.03 0.34 0.21 0.59 0.27 0.56 + 0.29 0.63 0.22 0.45 0.20 0.42 + 0.22 0.46 0.16 0.20 0.19 0.19 - 0.02 0.22 0.03 0.30 0.25 0.28 + 0.01 0.33 0.10 0.00 0.00 0.05 unch 0.00 0.08 0.04 0.07 0.07 0.07 - 0.01 0.12 0.05 0.20 0.17 0.19 + 0.02 0.25 0.12 0.10 0.09 0.09 unch 0.00 0.16 0.08 0.05 0.00 0.05 unch 0.00 0.12 0.05 0.16 0.15 0.15 - 0.01 0.17 0.07 0.12 0.11 0.11 - 0.01 0.12 0.05 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.18 0.14 0.18 + 0.03 0.17 0.13 0.25 0.19 0.24 + 0.05 3.60 0.13 0.03 0.00 0.03 + 0.01 0.07 0.02 0.24 0.23 0.24 unch 0.00 0.35 0.17 0.18 0.16 0.18 + 0.00 0.25 0.14 0.05 0.05 0.05 unch 0.00 0.15 0.04 0.09 0.07 0.08 - 0.01 0.14 0.07 0.07 0.05 0.05 - 0.01 0.09 0.05 0.07 0.00 0.07 - 0.01 0.10 0.04 0.10 0.08 0.08 - 0.01 0.14 0.05 0.16 0.13 0.13 - 0.01 0.29 0.12 0.20 0.18 0.19 + 0.02 0.37 0.15 0.05 0.03 0.04 + 0.01 0.10 0.02 0.14 0.10 0.10 - 0.01 0.40 0.07 0.11 0.07 0.11 + 0.01 0.31 0.06 0.20 0.15 0.19 + 0.04 0.20 0.15 0.08 0.07 0.07 unch 0.00 0.65 0.07 0.15 0.13 0.14 - 0.00 0.39 0.13 0.20 0.18 0.19 + 0.01 0.50 0.18 0.10 0.08 0.09 - 0.01 0.18 0.08 7.18 6.94 6.97 - 0.43 10.75 6.72 0.45 0.41 0.42 - 0.01 0.46 0.27 0.33 0.31 0.32 + 0.00 0.35 0.21 0.20 0.15 0.15 - 0.04 0.31 0.07 0.14 0.12 0.12 - 0.01 0.24 0.06 0.07 0.00 0.07 + 0.01 0.10 0.03 0.10 0.07 0.09 + 0.01 0.13 0.04 1.30 0.00 1.30 unch 0.00 2.50 1.30 0.11 0.10 0.11 - 0.03 0.26 0.04 0.19 0.12 0.12 - 0.07 0.32 0.06 0.52 0.52 0.52 unch 0.00 140.00 0.52 0.30 0.27 0.27 - 0.03 0.33 0.19 0.40 0.36 0.37 unch 0.00 0.46 0.25 0.12 0.11 0.11 - 0.01 0.32 0.07 0.09 0.09 0.09 - 0.00 0.23 0.07 0.00 0.00 0.00 + 0.00 0.00 0.00 0.11 0.10 0.10 unch 0.00 0.26 0.03 0.13 0.09 0.13 - 0.01 0.38 0.07 0.45 0.34 0.45 + 0.11 0.45 0.20 4.45 4.25 4.45 + 0.20 4.45 0.22 0.45 0.40 0.42 + 0.02 0.50 0.19 0.00 0.00 0.00 + 0.00 0.01 0.00 3.85 3.60 3.65 - 0.07 4.45 2.20 0.09 0.07 0.07 unch 0.00 0.52 0.06 0.06 0.04 0.04 - 0.01 0.36 0.04 0.01 0.00 0.01 + 0.00 0.10 0.00 3.47 3.29 3.38 + 0.01 3.87 2.50 2.56 0.00 2.50 - 0.03 3.02 1.84 3.51 2.96 2.97 - 0.24 7.33 3.15 0.10 0.09 0.10 + 0.02 0.22 0.05 0.06 0.06 0.06 - 0.00 0.13 0.06 1.44 1.34 1.42 + 0.06 2.40 1.17 1.07 0.98 1.02 unch 0.00 1.86 0.86 0.00 0.00 0.15 unch 0.00 0.17 0.07 0.11 0.00 0.11 unch 0.00 0.11 0.10 0.09 0.08 0.09 + 0.00 0.10 0.03 0.13 0.12 0.13 + 0.01 0.15 0.05 0.28 0.26 0.28 + 0.02 0.55 0.22 0.21 0.19 0.19 - 0.00 0.42 0.17 0.00 0.00 0.00 - 0.00 0.00 0.00 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.06 0.05 0.05 unch 0.00 0.30 0.02 0.04 0.03 0.03 unch 0.00 0.24 0.02 0.03 0.03 0.03 unch 0.00 0.04 0.02 0.02 0.01 0.02 + 0.00 0.04 0.00 0.00 0.00 0.08 unch 0.00 0.08 0.08 0.15 0.13 0.15 + 0.02 0.20 0.06 0.08 0.06 0.06 - 0.02 0.11 0.05 0.06 0.00 0.06 unch 0.00 0.08 0.03 0.13 0.00 0.13 unch 0.00 0.13 0.13 0.36 0.33 0.33 - 0.04 0.53 0.26 0.28 0.24 0.24 - 0.03 0.42 0.19 0.05 0.00 0.05 unch 0.00 0.11 0.05 0.07 0.00 0.07 unch 0.00 0.20 0.02 0.03 0.02 0.02 unch 0.00 0.23 0.02 0.02 0.01 0.02 + 0.00 0.17 0.01 0.14 0.13 0.13 - 0.01 0.54 0.08 1.66 1.35 1.62 + 0.23 3.10 1.10 0.09 0.09 0.09 unch 0.00 0.23 0.07 5.70 5.14 5.29 - 0.11 6.22 3.24 4.24 3.81 3.94 - 0.09 4.67 2.43 0.04 0.04 0.04 unch 0.00 0.08 0.04 0.26 0.24 0.24 - 0.01 0.30 0.16 0.35 0.32 0.32 - 0.03 0.39 0.22 0.07 0.00 0.07 - 0.02 1.16 0.07 0.11 0.10 0.11 + 0.01 1.49 0.08 0.07 0.05 0.07 + 0.02 0.09 0.04 0.06 0.03 0.04 + 0.01 0.07 0.02 0.65 0.60 0.60 - 0.03 0.97 0.52 0.88 0.80 0.81 - 0.04 1.12 0.71 0.29 0.00 0.29 + 0.01 0.37 0.12 0.24 0.00 0.24 unch 0.00 0.24 0.09 0.17 0.11 0.14 - 0.03 0.30 0.11 0.13 0.09 0.09 - 0.01 0.22 0.09 0.10 0.09 0.10 unch 0.00 0.24 0.08 0.10 0.08 0.09 + 0.01 0.15 0.04 0.06 0.05 0.06 + 0.01 0.14 0.03 0.01 0.01 0.01 unch 0.00 0.04 0.01 0.14 0.12 0.12 - 0.02 0.16 0.02 0.18 0.17 0.17 - 0.01 0.23 0.04 0.05 0.04 0.04 + 0.01 0.12 0.03 0.09 0.05 0.06 + 0.02 0.18 0.04 0.04 0.00 0.04 unch 0.00 0.25 0.04 0.09 0.09 0.09 - 0.02 0.40 0.09 0.07 0.07 0.07 unch 0.00 0.33 0.06 0.06 0.04 0.05 - 0.00 0.21 0.04 0.06 0.05 0.05 unch 0.00 0.10 0.05 0.13 0.11 0.13 + 0.00 0.20 0.09 0.18 0.16 0.16 - 0.01 0.26 0.12 0.03 0.01 0.03 + 0.01 0.07 0.01 0.03 0.03 0.03 + 0.01 0.09 0.03 0.04 0.04 0.04 unch 0.00 0.04 0.02 0.05 0.00 0.05 unch 0.00 0.06 0.03 2.83 2.36 2.72 + 0.37 3.44 1.57 3.85 3.13 3.70 + 0.55 4.67 2.03 0.11 0.10 0.10 unch 0.00 0.24 0.10 0.07 0.00 0.07 + 0.00 0.18 0.07 0.13 0.12 0.12 - 0.01 0.34 0.08 0.10 0.08 0.08 + 0.00 0.25 0.06 0.15 0.08 0.08 - 0.08 0.23 0.08 1.09 0.41 0.41 - 0.24 2.10 0.10 1.35 0.63 0.63 - 0.25 1.35 0.02 0.28 0.21 0.23 - 0.00 1.00 0.00 0.35 0.30 0.31 - 0.01 0.70 0.24 0.07 0.04 0.05 - 0.01 0.17 0.04 0.11 0.11 0.11 unch 0.00 0.19 0.05 0.05 0.05 0.05 unch 0.00 0.15 0.04 2.84 2.25 2.84 + 0.63 4.08 0.42 2.10 1.63 2.09 + 0.43 3.09 0.34 0.04 0.03 0.03 + 0.00 0.10 0.01 1.15 0.98 0.99 - 0.05 1.65 0.70 0.85 0.70 0.75 - 0.04 1.28 0.54 0.03 0.02 0.02 - 0.01 0.03 0.01 0.11 0.00 0.10 - 0.01 0.35 0.04 0.00 0.00 0.01 unch 0.00 0.01 0.01 0.05 0.05 0.05 unch 0.00 0.07 0.04 0.04 0.03 0.03 - 0.01 0.07 0.02 0.13 0.13 0.13 unch 0.00 2.00 0.13 0.07 0.06 0.07 - 0.01 0.10 0.02 0.07 0.05 0.06 - 0.00 0.07 0.04 0.09 0.08 0.09 unch 0.00 0.15 0.05 0.00 0.00 0.12 unch 0.00 0.12 0.06 0.14 0.12 0.13 + 0.01 0.21 0.05 0.11 0.09 0.10 + 0.00 0.16 0.04 0.04 0.03 0.04 - 0.00 0.11 0.03 0.05 0.00 0.05 unch 0.00 0.15 0.04 0.00 0.00 0.09 unch 0.00 0.20 0.09 0.08 0.06 0.06 - 0.02 0.20 0.06 0.10 0.09 0.10 + 0.01 0.17 0.01

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Group Ten Mtls V 309 GrowMax Res* O 66 GrowMax Res V 1215 GSP Resource V 220 GT Gold V 901 GT Gold * O 243 Gungnir Res* O 33 Gungnir Res V 96 Gunpoint Expl V 5 T 1569 Guyana Gldflds Guyana Goldstr V 252 O 232 Guyana Goldstr* Handa Mining V 51 O 7 Handa Mining* Handeni Gold* O 5 Hannan Metals V 104 Hannan Metals* O 29 Happy Ck Mnrls V 240 Harfang Explor V 205 Harmony Gold* N 14120 Harte Gold* O 454 Harte Gold T 1553 Harvest Gold* O 109 Harvest Gold V 59 Havilah Mining* O 1 V 67 Havilah Mining V 259 Hawkeye Gld&Di Heatherdale Rs V 197 Hecla Mining* N 34903 Helio Res V 25 Helio Res* O 0 O 62 Hemcare Health* Heron Res* O 9 HFX Holding V 50 Highbank Res V 196 Highbury Proj V 6 Highland Copp* O 179 V 190 Highland Copp Highway 50 Gld V 125 Highway 50 Gld* O 6 HiHo Silver 73 HiHo Silver* O 1 Hinterland Mtl V 24 Hochschild Mg* O 1 Homeland Egy* O 432 5 Honey Badger E* O Honey Badger E V 232 Horizonte Mnls T 74 Hornby Bay Mnl* O 13 13 Hornby Bay Mnl V HudBay Min* N 5996 HudBay Min T 7169 Hudson Res* O 26 Hudson Res V 46 Hunt Mng* O 52 Hunt Mng V 11 Hut 8 Mining V 1232 Hut 8 Mining* O 328 V 10 Hybrid Mineral Hycroft Mg* O 19

0.13 0.12 0.13 - 0.01 0.23 0.12 0.08 0.08 0.08 - 0.01 0.12 0.05 0.11 0.10 0.10 - 0.01 0.16 0.07 0.20 0.16 0.20 unch 0.00 0.26 0.16 0.96 0.90 0.92 + 0.01 2.15 0.41 0.72 0.67 0.68 - 0.03 1.62 0.31 0.05 0.04 0.05 + 0.00 0.29 0.04 0.06 0.06 0.06 unch 0.00 0.39 0.06 0.42 0.00 0.42 + 0.04 0.55 0.30 1.03 0.98 0.99 + 0.02 5.13 0.88 0.18 0.16 0.17 - 0.02 0.39 0.16 0.14 0.12 0.13 - 0.01 0.28 0.12 0.03 0.03 0.03 - 0.01 0.08 0.03 0.02 0.02 0.02 unch 0.00 0.05 0.01 0.02 0.00 0.02 unch 0.00 0.06 0.02 0.08 0.00 0.07 - 0.01 0.21 0.05 0.06 0.00 0.06 + 0.00 0.17 0.04 0.14 0.13 0.13 unch 0.00 0.20 0.11 0.30 0.25 0.28 unch 0.00 0.30 0.18 1.70 1.60 1.63 - 0.02 2.21 1.43 0.20 0.18 0.19 - 0.01 0.38 0.15 0.27 0.23 0.25 - 0.02 0.55 0.21 0.02 0.00 0.00 - 0.01 0.08 0.01 0.02 0.01 0.01 unch 0.00 0.10 0.01 0.22 0.00 0.22 + 0.02 0.35 0.17 0.30 0.00 0.30 unch 0.00 0.69 0.24 0.04 0.03 0.04 unch 0.00 0.11 0.03 0.03 0.02 0.02 - 0.01 0.05 0.02 1.62 1.49 1.52 - 0.04 4.05 1.50 0.06 0.00 0.06 unch 0.00 0.13 0.05 0.00 0.00 0.05 unch 0.00 0.09 0.04 1.50 1.20 1.49 - 0.05 1.54 0.05 0.42 0.42 0.42 unch 0.00 0.49 0.35 0.06 0.06 0.06 unch 0.00 0.07 0.05 0.03 0.02 0.02 unch 0.00 0.05 0.01 0.25 0.25 0.25 unch 0.00 0.30 0.21 0.05 0.04 0.05 + 0.01 0.12 0.04 0.06 0.06 0.06 - 0.01 0.14 0.05 0.17 0.17 0.17 - 0.01 0.48 0.14 0.11 0.11 0.11 unch 0.00 0.37 0.10 0.03 0.03 0.03 unch 0.00 0.11 0.02 0.02 0.02 0.02 unch 0.00 0.07 0.01 0.19 0.00 0.13 - 0.07 0.35 0.10 2.25 2.25 2.25 unch 0.00 2.98 1.96 2.01 1.75 1.87 - 0.11 3.21 0.18 0.02 0.01 0.02 - 0.00 0.14 0.01 0.04 0.03 0.03 unch 0.00 0.20 0.03 0.04 0.00 0.04 unch 0.00 0.08 0.03 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.03 0.03 0.03 - 0.01 0.05 0.02 5.26 4.97 5.01 - 0.37 7.83 3.44 7.01 6.70 6.73 - 0.47 10.42 4.51 0.29 0.28 0.29 + 0.00 0.39 0.25 0.39 0.37 0.37 - 0.01 0.53 0.32 0.10 0.09 0.09 - 0.00 0.34 0.07 0.11 0.11 0.11 unch 0.00 0.33 0.09 2.45 1.71 1.91 + 0.33 4.08 0.76 1.81 1.28 1.42 + 0.22 3.20 0.60 0.08 0.08 0.08 + 0.01 0.28 0.06 0.03 0.02 0.02 unch 0.00 0.13 0.01

I-Minerals* O 7 I-Minerals V 25 IAMGOLD T 14781 44859 IAMGOLD* N Icon Explor* O 53 Iconic Mnls V 247 Iconic Mnls * O 37 iMetal Res* O 38 iMetal Res V 3078 IMPACT Silver V 430 Impala Platnm* O 0 Imperial Metal T 74 Imperial Metal* O 14 Imperial Mg Gr V 46 Inca One Gold* O 126 Inca One Gold V 685 Inception Mng * O 7 Independence G V 372 O 4 Independence G* Indiana Res* O 1 Indico Res V 52 Indigo Expl V 98 Infinite Lith* O 1 Infinite Lith V 27 Inform Res V 200 Infrastructure* O 1 Inomin Mines V 17 Inspiration Mg* O 2 Intact Gold V 650 Integra Res* O 278 Integra Res V 471 Inter-Rock Mnl* O 16 V 144 Inter-Rock Mnl Intercontinent V 23 Intercontinent* O 0 Intgr Egy Sol* O 1868 Intl Battery* O 160 Intl Battery 120 Intl Bethl Mng V 5 Intl Cobalt* O 446 Intl Cobalt 3899 Intl Lithium* O 114 Intl Lithium V 49 Intl Montoro* O 25 Intl Montoro V 92 1 Intl Prospect * O Intl Prospect V 8 14 Intl Samuel Ex* O Intl Samuel Ex V 287 Intl Star* O 6039 Intl Tower Hil* X 170 34 Intl Tower Hil T Intl Zeolite V 234 Intl Zeolite* O 0 Intrepid Pots* N 1909 INV Metals* O 11 INV Metals T 67 Inventus Mg * O 54 Inventus Mg V 273 InZinc Mining V 382 Ireland* O 24 Irving Res* O 227 Irving Res 346 IsoEnergy Ltd V 541 Itafos* O 1354 V 753 Itafos Itoco Inc* O 0 O 558 Ivanhoe Mines* Ivanhoe Mines T 4061 Jade Leader* O 28 Jade Leader V 25 Jaeger Res * O 0 Jaeger Res V 3 Jaguar Mng T 823 Jaguar Mng* O 384 Japan Gold V 262 Japan Gold* O 54 Jasper Mining V 154 Jaxon Mining* O 279 Jaxon Mining V 58 Jayden Res* O 0 Jayden Res V 28 Jazz Res V 150 JDF Explor Inc 2 Jiulian Res V 162 Jourdan Res V 2079 Jubilee Metals* O 1 Juggernaut Exp V 777 Juggernaut Exp* O 317 Jupiter Gold* O 1 K2 Gold V 115 K92 Mining* O 462 K92 Mining V 928 Kaizen Discov V 233 Kaizen Discvry* O 52 Kal Minerals 5 Kapuskasing Gd V 16 Karam Min 6 Karmin Expl V 54 Karnalyte Res T 202 Karoo Expl V 5081 KAT Expl* O 227044 Katanga Mng T 827 Kenadyr Mining V 1189 Kenadyr Mining* O 13 Kermode Res V 4 Kerr Mines* O 261 Kerr Mines T 504 Kesselrun Res* O 1 Kesselrun Res V 410 Kestrel Gold V 342 Kilo Goldmines V 713 Kincora Copper* O 149

0.05 0.00 0.05 unch 0.00 0.18 0.05 0.09 0.00 0.09 + 0.03 0.27 0.07 3.65 3.16 3.47 + 0.28 8.20 3.15 2.75 2.34 2.59 + 0.21 6.33 2.33 0.08 0.00 0.07 - 0.01 0.21 0.08 0.12 0.11 0.11 - 0.02 0.19 0.09 0.09 0.07 0.08 - 0.00 0.14 0.06 0.05 0.00 0.04 - 0.00 0.14 0.04 0.08 0.06 0.06 unch 0.00 0.19 0.06 0.28 0.26 0.26 - 0.01 0.45 0.20 0.00 0.00 1.82 unch 0.00 1.85 1.15 2.55 2.12 2.55 + 0.27 3.50 0.93 1.87 1.68 1.87 + 0.17 2.60 0.72 0.08 0.07 0.08 + 0.01 0.12 0.05 0.04 0.03 0.04 - 0.01 0.05 0.02 0.05 0.04 0.05 - 0.01 0.07 0.04 0.36 0.00 0.34 + 0.02 0.55 0.00 0.06 0.00 0.05 - 0.02 0.11 0.04 0.04 0.00 0.03 - 0.01 0.08 0.03 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.05 0.00 0.04 - 0.01 0.14 0.04 0.06 0.00 0.06 unch 0.00 0.18 0.06 0.03 0.03 0.03 unch 0.00 0.19 0.03 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.03 0.02 0.03 + 0.01 0.11 0.02 0.03 0.00 0.03 + 0.03 0.05 0.00 0.07 0.06 0.06 unch 0.00 1.18 0.06 0.59 0.50 0.58 + 0.08 0.74 0.44 0.78 0.66 0.78 + 0.12 0.94 0.61 0.19 0.18 0.19 unch 0.00 0.29 0.18 0.26 0.22 0.26 + 0.03 0.47 0.20 0.13 0.00 0.09 - 0.02 0.65 0.10 0.00 0.00 0.11 unch 0.00 0.47 0.10 0.00 0.00 0.00 - 0.00 0.00 0.00 0.11 0.07 0.08 - 0.02 0.35 0.03 0.14 0.11 0.11 - 0.02 0.44 0.05 0.04 0.04 0.04 unch 0.00 0.08 0.03 0.02 0.01 0.01 - 0.01 0.18 0.01 0.03 0.02 0.02 unch 0.00 0.23 0.02 0.05 0.04 0.05 + 0.01 0.09 0.02 0.06 0.06 0.06 + 0.01 0.12 0.03 0.04 0.04 0.04 unch 0.00 0.06 0.02 0.05 0.05 0.05 unch 0.00 0.09 0.04 0.09 0.09 0.09 + 0.00 0.24 0.09 0.16 0.00 0.15 - 0.01 0.38 0.12 0.00 0.00 0.03 unch 0.00 0.10 0.02 0.03 0.02 0.02 - 0.01 0.13 0.02 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.50 0.44 0.46 - 0.01 0.75 0.35 0.65 0.00 0.60 - 0.02 0.94 0.48 0.13 0.12 0.13 - 0.01 0.38 0.05 0.09 0.00 0.09 + 0.00 0.25 0.01 3.48 3.24 3.25 - 0.29 5.31 2.51 0.29 0.25 0.26 - 0.00 0.59 0.25 0.37 0.35 0.35 - 0.02 0.83 0.32 0.09 0.07 0.08 - 0.01 0.18 0.07 0.12 0.10 0.12 + 0.01 0.25 0.10 0.04 0.04 0.04 unch 0.00 0.14 0.04 0.10 0.09 0.09 - 0.01 0.20 0.03 2.33 2.09 2.17 - 0.14 2.33 0.70 3.15 2.82 2.95 - 0.13 3.15 0.91 0.45 0.41 0.42 - 0.04 0.66 0.28 0.56 0.49 0.56 + 0.02 2.08 0.47 0.75 0.65 0.74 + 0.09 2.68 0.63 0.00 0.00 0.32 unch 0.00 0.32 0.02 2.55 2.31 2.44 - 0.00 2.77 1.50 3.42 3.11 3.27 + 0.02 3.62 2.00 0.17 0.00 0.16 - 0.04 0.34 0.13 0.21 0.00 0.21 + 0.01 0.44 0.13 0.02 0.02 0.02 unch 0.00 0.02 0.01 0.00 0.00 0.02 unch 0.00 0.04 0.02 0.10 0.09 0.09 - 0.02 0.40 0.08 0.08 0.07 0.07 + 0.00 0.31 0.06 0.25 0.24 0.24 - 0.01 0.38 0.07 0.19 0.17 0.18 + 0.01 0.28 0.06 0.09 0.09 0.09 unch 0.00 0.29 0.08 0.04 0.00 0.04 unch 0.00 0.11 0.04 0.06 0.00 0.06 unch 0.00 0.15 0.05 0.00 0.00 0.00 unch 0.00 0.12 0.00 0.01 0.00 0.01 unch 0.00 0.20 0.01 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.00 0.00 0.05 unch 0.00 0.05 0.01 0.08 0.06 0.08 unch 0.00 0.18 0.02 0.05 0.04 0.05 + 0.01 0.09 0.02 0.04 0.04 0.04 unch 0.00 0.04 0.03 0.09 0.08 0.08 unch 0.00 0.59 0.07 0.07 0.05 0.07 + 0.01 1.10 0.05 1.00 1.00 1.00 unch 0.00 2.25 1.00 0.22 0.17 0.17 unch 0.00 0.33 0.16 1.15 1.02 1.11 + 0.03 1.35 0.50 1.56 1.41 1.50 + 0.05 1.75 0.66 0.06 0.00 0.06 unch 0.00 0.11 0.05 0.04 0.04 0.04 - 0.00 0.08 0.03 0.25 0.25 0.25 unch 0.00 0.25 0.12 0.07 0.05 0.07 + 0.01 0.21 0.05 0.12 0.00 0.08 - 0.07 0.15 0.08 0.80 0.75 0.80 unch 0.00 1.03 0.60 0.24 0.15 0.21 + 0.04 0.61 0.15 0.17 0.08 0.08 - 0.01 0.75 0.06 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.51 0.40 0.44 + 0.03 1.55 0.36 0.06 0.06 0.06 - 0.01 0.21 0.06 0.04 0.04 0.04 unch 0.00 0.16 0.04 0.00 0.00 0.01 unch 0.00 0.03 0.01 0.14 0.12 0.13 + 0.00 0.17 0.07 0.18 0.17 0.17 - 0.01 0.23 0.11 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.05 0.05 0.05 + 0.01 0.12 0.03 0.02 0.02 0.02 + 0.00 0.04 0.01 0.02 0.01 0.02 + 0.01 0.04 0.01 0.09 0.07 0.09 + 0.02 0.23 0.07

I-J-K

(100s) Stock

Week

21

12-month

Exc Volume High Low Last Change High Low

Kincora Copper V 347 Kings Bay Res* O 1 Kingsmen Res V 5 Kingsmen Res* O 1 Kinross Gold T 13485 Kinross Gold* N 37011 Kintavar Exp V 90 Kirkland Lake* N 8085 Kirkland Lake T 5205 O 267 Klondike Gold* Klondike Gold V 137 Klondike Silv* O 9 Klondike Silv V 972 Knick Expl V 85 Kombat Copper V 64 Komet Resource V 36 Kootenay Silvr* O 12 Kootenay Silvr V 155 Kootenay Zinc 20 Kootenay Zinc* O 5 KOPR Point 122 Kore Mining V 167 Kore Mining * O 1 Kutcho Copper * O 100 KWG Res* O 7 KWG Res 1036

0.12 0.08 0.10 + 0.02 0.29 0.08 0.02 0.00 0.02 - 0.00 0.06 0.02 0.41 0.00 0.41 - 0.14 0.70 0.16 0.51 0.00 0.51 unch 0.00 0.52 0.12 4.30 4.11 4.25 + 0.17 5.20 3.15 3.19 3.06 3.16 + 0.11 3.98 2.38 0.17 0.15 0.15 - 0.01 0.46 0.11 35.20 32.71 33.88 + 0.83 36.74 17.26 47.43 43.90 45.61 + 1.26 48.48 22.42 0.16 0.13 0.16 + 0.03 0.34 0.10 0.23 0.21 0.21 - 0.02 0.44 0.17 0.04 0.02 0.03 + 0.00 0.05 0.02 0.05 0.04 0.05 + 0.01 0.07 0.04 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.11 0.10 0.10 - 0.01 0.25 0.05 0.19 0.14 0.14 - 0.05 0.36 0.11 0.09 0.00 0.09 unch 0.00 0.14 0.08 0.12 0.11 0.11 - 0.01 0.17 0.11 0.07 0.00 0.07 - 0.03 0.29 0.05 0.08 0.05 0.05 - 0.03 0.17 0.03 0.15 0.09 0.15 + 0.02 4.10 0.01 0.22 0.18 0.22 unch 0.00 0.35 0.08 0.16 0.00 0.16 - 0.01 0.21 0.09 0.16 0.14 0.16 + 0.00 0.47 0.14 0.01 0.00 0.01 + 0.00 0.02 0.00 0.01 0.00 0.01 + 0.01 0.02 0.01

Labdr Iron Mns* O 31 V 101 Labrador Gold Labrador Gold* O 63 Labrador Iron T 1036 Lake Forest Mi* O 1 Lara Expl V 122 Laramide Res T 399 Laredo Res* O 383 Largo Res T 8256 Largo Res* O 4357 Lateral Gold V 49 Latin Am Mnls V 2253 Latin Am Mnls* O 0 Laurion Mnl Ex* O 315 Laurion Mnl Ex V 532 4 Le Mare Gold* O Le Mare Gold V 15 LeadFX Inc* O 1 Leading Edge V 521 Leading Edge* O 821 Leagold Mg* O 216 Leagold Mg T 800 Leeta Gold V 13539 Legion Metals 6682 Leo Res* O 63 Lepanto Con Mg* O 609 Levon Res Ltd T 231 Levon Res Ltd * O 8 Libero Copper* O 40 Libero Copper V 63 Liberty Gold* O 204 Liberty One Li V 614 Liberty One Li* O 384 LiCo Energy* O 29 LiCo Energy V 162 Lincoln Mng V 1134 Lion One Mtls V 279 Lion One Mtls* O 284 Lions Bay Cap V 227 Lions Bay Mg 2 8 Lions Bay Mg * O Lithion Energy* O 72 Lithium Amer* N 848 Lithium Amer T 673 Lithium Chile V 258 Lithium Chile* O 163 Lithium Corp* O 178 Lithium Energi* O 23 Lithium Energi V 10 Lithium Expl* O 1371 Lithoquest Dia V 29 Lithoquest Dia* O 47 LKA Gold* O 20 Lode-Star Mg* O 10 Logan Res* O 0 Lomiko Mtls* O 19 Lomiko Mtls V 527 Loncor Res* O 7 Loncor Res T 100 Lone Star Gold* O 16 Lonmin plc* O 10 Lonmin plc* O 0 Los Andes Copp V 488 Lucara Diam T 865 Lucky Mnls * O 24 Lucky Mnls V 266 Luckystrike * O 3 Luckystrike V 43 Lumina Gold* O 19 Lumina Gold V 68 Luminex Res V 46 Lundin Gold T 196 Lundin Mng* O 116 Lundin Mng T 11047 Lupaka Gold V 334 Lydian Intl* O 153 Lydian Intl T 2170 Lynas Corp* O 131 Lynas Corp* O 43

0.00 0.00 0.00 - 0.00 0.11 0.00 0.22 0.19 0.22 + 0.04 0.33 0.14 0.14 0.14 0.14 + 0.01 0.21 0.12 33.23 29.81 33.13 + 2.45 33.81 21.08 2.00 2.00 2.00 unch 0.00 2.00 0.50 0.47 0.45 0.47 - 0.02 0.74 0.41 0.40 0.35 0.40 + 0.02 0.52 0.24 0.01 0.00 0.01 + 0.00 0.05 0.00 1.85 1.45 1.49 - 0.32 4.65 1.44 1.36 1.08 1.10 - 0.26 3.56 1.09 0.27 0.00 0.27 + 0.10 0.89 0.13 0.02 0.02 0.02 + 0.01 0.08 0.01 0.01 0.01 0.01 unch 0.00 0.06 0.01 0.08 0.08 0.08 + 0.00 0.08 0.05 0.11 0.10 0.11 unch 0.00 0.11 0.06 0.06 0.00 0.04 - 0.00 0.30 0.00 0.07 0.06 0.06 - 0.01 0.18 0.06 0.73 0.73 0.73 unch 0.00 0.82 0.65 0.12 0.10 0.11 - 0.02 0.75 0.10 0.09 0.07 0.08 - 0.02 0.60 0.07 1.29 1.09 1.18 + 0.03 2.63 0.95 1.75 1.52 1.59 + 0.07 3.17 1.28 0.72 0.56 0.58 + 0.03 1.26 0.24 0.72 0.60 0.67 + 0.02 0.83 0.18 0.06 0.00 0.03 - 0.03 0.60 0.01 0.00 0.00 0.00 - 0.00 0.01 0.00 0.12 0.11 0.12 + 0.01 0.25 0.11 0.09 0.09 0.09 - 0.00 0.20 0.08 0.09 0.09 0.09 unch 0.00 0.10 0.04 0.10 0.08 0.10 unch 0.00 0.14 0.07 0.27 0.25 0.26 - 0.02 0.35 0.21 0.13 0.11 0.12 + 0.01 0.40 0.06 0.09 0.07 0.09 + 0.01 0.31 0.04 0.08 0.06 0.06 - 0.02 0.18 0.01 0.10 0.08 0.08 - 0.01 0.60 0.07 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.79 0.70 0.71 - 0.04 0.79 0.35 0.59 0.52 0.53 - 0.02 0.59 0.24 0.06 0.04 0.04 - 0.02 0.12 0.04 0.06 0.00 0.06 unch 0.00 0.20 0.03 0.05 0.00 0.01 - 0.02 0.14 0.00 0.22 0.20 0.22 + 0.02 0.22 0.02 3.86 3.37 3.67 + 0.03 6.87 2.75 5.18 4.53 4.96 + 0.10 8.85 3.74 0.49 0.43 0.45 - 0.05 1.10 0.43 0.36 0.31 0.33 - 0.05 0.97 0.31 0.11 0.10 0.10 + 0.00 0.32 0.10 0.14 0.14 0.14 + 0.01 0.30 0.11 0.19 0.00 0.18 - 0.04 0.38 0.15 0.00 0.00 0.00 + 0.00 0.03 0.00 0.10 0.10 0.10 unch 0.00 0.54 0.08 0.08 0.00 0.08 unch 0.00 0.39 0.06 0.20 0.08 0.16 - 0.03 0.43 0.05 0.06 0.06 0.06 unch 0.00 0.15 0.02 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.04 0.03 0.04 + 0.00 0.07 0.02 0.06 0.05 0.05 unch 0.00 0.09 0.04 0.06 0.00 0.04 - 0.02 0.09 0.04 0.08 0.00 0.08 - 0.01 0.14 0.06 0.98 0.53 0.73 + 0.00 2.12 0.05 0.85 0.79 0.84 - 0.02 1.15 0.45 0.00 0.00 0.82 unch 0.00 0.93 0.53 0.30 0.26 0.30 unch 0.00 0.35 0.15 1.59 1.51 1.51 - 0.12 2.39 1.38 0.06 0.00 0.05 - 0.01 0.16 0.05 0.07 0.07 0.07 unch 0.00 0.21 0.06 0.11 0.00 0.11 + 0.01 0.35 0.10 0.15 0.13 0.15 + 0.01 0.55 0.12 0.43 0.00 0.41 - 0.01 1.03 0.35 0.58 0.55 0.55 unch 0.00 0.82 0.46 0.67 0.61 0.65 + 0.02 1.05 0.51 5.40 5.08 5.15 - 0.05 5.90 4.33 4.97 4.55 4.67 - 0.26 6.93 3.60 6.71 6.09 6.29 - 0.35 8.96 4.70 0.07 0.06 0.06 unch 0.00 0.24 0.06 0.13 0.08 0.10 - 0.02 0.29 0.05 0.17 0.12 0.15 - 0.01 0.38 0.07 1.42 1.29 1.35 + 0.03 1.95 1.05 1.45 1.25 1.42 + 0.11 1.92 1.05

L

M M.P.V. Explor 200 0.16 0.15 0.15 - 0.01 0.20 0.06 M2 Cobalt* O 1 0.13 0.13 0.13 unch 0.00 0.75 0.12 Macarthur Mnl V 1879 0.10 0.08 0.09 + 0.01 0.17 0.02 Macarthur Mnl* O 269 0.07 0.06 0.07 + 0.02 0.31 0.01 MacDonald Mns* O 31 0.03 0.02 0.03 - 0.01 0.06 0.02 MacDonald Mns V 718 0.04 0.00 0.04 - 0.01 0.08 0.03 MAG Silver T 796 13.36 12.21 12.41 - 0.05 15.59 8.10 O 1 2.10 0.00 1.75 - 0.30 3.80 0.78 Magellan Gold* unch 0.00 0.06 0.02 Magna Terra V 226 0.03 0.02 0.02 Magnitude Mng V 25 0.16 0.16 0.16 unch 0.00 0.30 0.14 Majestic Gold V 0 0.00 0.00 0.06 unch 0.00 0.11 0.05 Majestic Gold* O 3 0.04 0.04 0.04 - 0.01 0.08 0.04 0.03 Makena Res* O 62 0.06 0.05 0.05 - 0.01 0.09 Mako Mining* O 19 0.08 0.00 0.08 + 0.00 0.18 0.01 Mako Mining V 103 0.13 0.11 0.11 - 0.01 0.26 0.10 Mammoth Res V 522 0.04 0.03 0.04 - 0.01 0.09 0.03 Mandalay Res T 702 0.10 0.09 0.10 unch 0.00 0.24 0.05 Mandalay Res* O 150 0.08 0.06 0.08 + 0.00 0.19 0.03 Manganese X* O 3 0.09 0.09 0.09 - 0.00 0.16 0.07 Manganese X V 78 0.14 0.13 0.14 unch 0.00 0.20 0.08 Mangazeya Mng V 331 0.04 0.03 0.03 - 0.01 0.05 0.02 Mangazeya Mng* O 1 0.02 0.02 0.02 unch 0.00 0.04 0.01 Manitou Gold V 403 0.05 0.04 0.04 - 0.01 0.11 0.03 Maple Gold V 1521 0.09 0.08 0.08 unch 0.00 0.24 0.08 Maple Gold* O 184 0.07 0.06 0.07 + 0.01 0.20 0.06 Marathon Gold* O 681 0.77 0.63 0.76 + 0.14 0.84 0.49 Marathon Gold T 1542 1.03 0.85 1.02 + 0.19 1.20 0.65 Margaret Lake* O 50 0.04 0.04 0.04 unch 0.00 0.10 0.02 V 503 0.05 0.04 0.05 unch 0.00 0.14 0.02 Margaret Lake Margaux Res V 151 0.07 0.06 0.07 unch 0.00 0.24 0.03 Margaux Res* O 4 0.04 0.04 0.04 unch 0.00 0.16 0.02 Marifil Mines* O 116 0.10 0.07 0.10 + 0.00 0.15 0.04 0.05 Marifil Mines V 176 0.14 0.11 0.12 - 0.01 0.22 Maritime Res V 82 0.10 0.10 0.10 - 0.01 0.14 0.07 Martina Mnls V 300 0.10 0.04 0.08 + 0.05 0.10 0.04 MartinMarietta* N 3138 220.64 210.65 217.53 + 1.66 232.89 150.75 Mas Gold V 19 0.09 0.00 0.09 unch 0.00 0.16 0.04 Mason Graphite* O 263 0.30 0.25 0.27 + 0.01 1.43 0.18 Mason Graphite V 737 0.40 0.34 0.37 + 0.02 1.85 0.25 Matachewan Con V 54 0.17 0.12 0.13 - 0.04 0.27 0.12 Matica Ent 2517 0.10 0.09 0.10 + 0.01 0.32 0.07 V 65 2.75 2.59 2.74 + 0.13 2.86 1.41 Maverix Metals Maverix Metals* O 35 2.05 1.93 1.96 + 0.01 2.18 1.10 Mawson Res T 156 0.19 0.18 0.18 unch 0.00 0.39 0.18 Mawson Res* O 93 0.14 0.00 0.13 - 0.01 0.30 0.13 MAX Res V 2390 0.18 0.13 0.17 + 0.02 0.50 0.12 0.04 MaxTech Vent 43 0.07 0.06 0.06 - 0.01 0.33 MaxTech Vent* O 28 0.05 0.04 0.04 + 0.00 0.29 0.03 Maxwell Res* O 199 0.02 0.00 0.01 + 0.00 0.02 0.00 Maya Gold &Sil* O 15 1.71 1.60 1.66 + 0.05 2.28 1.20 Maya Gold &Sil T 66 2.35 2.11 2.21 + 0.10 3.00 1.58 Mazarin V 5 0.10 0.09 0.09 - 0.01 0.18 0.06 MBMI Res* O 21 0.01 0.01 0.01 + 0.00 1.00 0.01 MBMI Res V 16 0.02 0.00 0.02 unch 0.00 0.07 0.02 McChip Res V 156 0.66 0.00 0.65 unch 0.00 0.93 0.54 McEwen Mng T 1307 2.02 1.80 1.80 - 0.13 3.28 1.75 McEwen Mng* N 8101 1.51 1.33 1.34 - 0.10 2.52 1.30 McLaren Res 1524 0.04 0.01 0.03 - 0.01 0.10 0.01 MDN Inc* O 2 0.14 0.13 0.13 - 0.01 0.23 0.13 Meadow Bay Gd 52 0.05 0.04 0.04 unch 0.00 0.19 0.03 Meadow Bay Gd* O 60 0.04 0.03 0.03 + 0.01 0.14 0.02 Mechel* N 269 2.10 1.81 2.06 + 0.06 3.79 1.81 Medallion Res* O 115 0.08 0.07 0.07 - 0.01 0.13 0.06 Medallion Res V 257 0.11 0.10 0.10 + 0.01 0.17 0.08 Medgold Res* O 47 0.09 0.08 0.08 - 0.00 0.38 0.08

2019-05-21 10:59 AM

22

WWW.NORTHERNMINER.COM

MAY 27–JUNE 9, 2019 / THE NORTHERN MINER

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

Week

12-month

Exc Volume High Low Last Change High Low

Medgold Res V 103 Medinah Mnrls* O 924 Mega Uranium* O 195 Mega Uranium T 274 Megastar Dev V 1390 MegumaGold* O 86 MegumaGold 531 Melior Res V 40 Melkior Res V 1292 Meridian Mg V 122 Meridian Mg * O 13 Meridius Res V 28 Meryllion Res 256 Meryllion Res* O 0 MetalCorp V 1 Metalex Vent V 74 Metalla Rylty V 476 Metalla Rylty* O 558 Metallic Mnrls* O 187 Metallic Mnrls V 565 Metallis Res V 44 Metalo Manuf 13 Metals Creek V 205 Metals Creek* O 20 Metals X* O 174 O 30 Mexican Gold* Mexivada Mng* O 27 Mexus Gold* O 1785 MGX Minerals* O 689 MGX Minerals 1284 Midas Gold T 163 Midas Gold* O 712 Midland Expl V 560 Midnight Star 922 Midnight Sun V 616 Millennial Lit* O 26 Millennial Lit V 180 Millrock Res* O 504 Millrock Res V 887 50 Milner Con Slv V Minaurum Gold V 253 O 197 Minaurum Gold* Minco Silver* O 28 Minco Silver T 74 Minecorp Egy * O 0 80 Minera Alamos * O Minera Alamos V 1525 Minera IRL 1014 Mineral Mtn* O 135 Mineral Mtn V 57 MineralRite* O 4822 V 354 Mineworx Tech Mineworx Tech* O 182 Minfocus Expl V 163 Minfocus Expl* O 185 O 1444 Mining Global* Minnova Corp V 504 Minsud Res V 21 Miramont Res 399 O 256 Miramont Res* Mirasol Res V 54 Mistango River 30 Mkango Res V 56 ML Gold* O 5 ML Gold Corp V 1924 O 18 Monarca Mnrls* Monarca Mnrls V 1018 T 177 Monarch Gold Monarch Gold* O 233 O 187 Moneta Porcpn* Moneta Porcpn T 953 10 Monitor Vent V Monitor Vent* O 9 Monster Uran* O 0 Monster Uran V 26 Monterey Min 472 Montero Mg&Ex V 49 25 Montero Mg&Ex * O Monument Mng V 371 Morien Res* O 5 Morien Res V 425 N 26736 Mosaic* Mountain Boy V 99 Mountain Boy* O 26 Mountain Prov* D 489 T 812 Mountain Prov Mundoro Cap* O 146 Mundoro Cap V 143 Murchison Min V 884 MX Gold* O 166

0.13 0.12 0.13 + 0.01 0.51 0.09 0.00 0.00 0.00 - 0.00 0.01 0.00 0.08 0.06 0.07 + 0.00 0.14 0.06 0.10 0.10 0.10 unch 0.00 0.18 0.10 0.09 0.08 0.08 - 0.01 0.11 0.04 0.10 0.07 0.07 - 0.02 0.21 0.07 0.15 0.09 0.13 unch 0.00 0.30 0.08 0.35 0.34 0.35 + 0.02 1.15 0.21 0.04 0.04 0.04 unch 0.00 0.13 0.04 0.10 0.07 0.10 + 0.03 0.45 0.05 0.05 0.05 0.05 - 0.01 0.08 0.05 0.19 0.15 0.19 unch 0.00 0.22 0.09 0.02 0.02 0.02 - 0.01 0.04 0.01 0.00 0.00 0.00 unch 0.00 0.02 0.00 0.00 0.00 0.01 unch 0.00 0.03 0.01 0.05 0.04 0.05 + 0.01 0.06 0.02 1.14 1.04 1.07 + 0.03 1.43 0.63 0.85 0.77 0.79 + 0.02 1.08 0.48 0.10 0.08 0.09 - 0.01 0.26 0.08 0.13 0.11 0.12 - 0.01 0.32 0.11 0.47 0.00 0.47 - 0.09 1.44 0.39 0.23 0.23 0.23 - 0.07 0.45 0.10 0.04 0.00 0.04 - 0.01 0.11 0.03 0.03 0.02 0.03 + 0.00 0.08 0.02 0.20 0.16 0.16 - 0.04 0.69 0.15 0.07 0.06 0.07 - 0.01 0.29 0.06 0.00 0.00 0.00 - 0.00 0.00 0.00 0.01 0.01 0.01 - 0.00 0.03 0.00 0.21 0.18 0.20 + 0.01 1.08 0.16 0.29 0.24 0.26 + 0.01 1.39 0.22 0.71 0.66 0.67 unch 0.00 1.16 0.60 0.53 0.48 0.51 + 0.01 0.92 0.46 1.30 0.96 1.05 - 0.12 1.46 0.66 0.29 0.22 0.23 - 0.05 0.40 0.11 0.14 0.11 0.13 + 0.03 0.31 0.10 1.26 1.10 1.21 + 0.03 2.37 0.67 1.68 1.58 1.65 + 0.01 3.05 1.04 0.08 0.07 0.08 - 0.00 0.31 0.05 0.11 0.09 0.09 - 0.02 0.40 0.07 0.08 0.08 0.08 unch 0.00 0.11 0.03 0.40 0.33 0.34 - 0.06 0.67 0.35 0.30 0.25 0.26 - 0.04 0.51 0.26 0.40 0.32 0.40 + 0.05 0.58 0.24 0.56 0.43 0.54 + 0.08 0.73 0.35 0.00 0.00 0.01 unch 0.00 0.05 0.01 0.08 0.00 0.08 + 0.01 0.12 0.06 0.11 0.10 0.11 unch 0.00 0.15 0.09 0.08 0.06 0.08 + 0.02 0.12 0.05 0.12 0.09 0.09 - 0.02 0.31 0.05 0.16 0.13 0.13 - 0.01 0.36 0.07 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.10 0.10 0.10 - 0.01 0.23 0.09 0.08 0.07 0.07 - 0.01 0.20 0.07 0.06 0.04 0.04 unch 0.00 0.14 0.03 0.03 0.03 0.03 - 0.02 0.07 0.03 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.12 0.10 0.12 + 0.01 0.85 0.10 0.06 0.06 0.06 unch 0.00 0.08 0.05 0.22 0.20 0.21 + 0.01 0.63 0.12 0.16 0.14 0.15 - 0.01 0.48 0.09 0.64 0.61 0.62 + 0.01 2.04 0.55 0.03 0.00 0.03 + 0.01 0.05 0.01 0.15 0.13 0.13 - 0.02 0.19 0.10 0.25 0.00 0.25 + 0.15 0.25 0.01 0.50 0.18 0.44 + 0.27 1.35 0.12 0.03 0.00 0.03 - 0.01 0.05 0.01 0.04 0.03 0.04 - 0.01 0.06 0.02 0.24 0.22 0.22 unch 0.00 0.33 0.15 0.17 0.16 0.17 - 0.00 0.24 0.11 0.08 0.07 0.07 - 0.01 0.12 0.06 0.11 0.09 0.10 - 0.01 0.16 0.07 0.25 0.00 0.24 + 0.03 0.98 0.16 0.22 0.13 0.14 - 0.08 0.80 0.12 0.00 0.00 0.11 unch 0.00 0.11 0.04 0.15 0.00 0.15 unch 0.00 0.32 0.11 0.06 0.05 0.05 - 0.01 0.16 0.05 0.07 0.06 0.06 - 0.01 0.26 0.06 0.06 0.06 0.06 unch 0.00 0.19 0.06 0.05 0.05 0.05 unch 0.00 0.08 0.05 0.39 0.35 0.37 + 0.01 0.47 0.30 0.52 0.48 0.50 unch 0.00 0.61 0.42 23.95 22.55 22.80 - 1.10 37.37 22.55 0.26 0.23 0.23 + 0.01 0.43 0.15 0.19 0.15 0.17 + 0.02 0.18 0.04 1.24 1.06 1.09 - 0.11 2.92 0.81 1.65 1.42 1.46 - 0.14 3.72 1.09 0.10 0.09 0.09 + 0.01 0.19 0.08 0.13 0.12 0.13 + 0.01 0.25 0.10 0.09 0.00 0.08 - 0.01 0.18 0.06 0.01 0.00 0.00 - 0.00 0.04 0.00

NA Frac Sand* O 1031 NACCO Ind* N 57 Namibia Crit V 345 Namibia Crit* O 175 Napier Vent V 7 129 Natural Res Pt* N Nautilus Mnrls* O 1241 Navis Res Corp* O 0 Navy Res V 49 Nemaska Lith T 7055 O 456 Nemaska Lith* Neo Lithium V 386 Neometals* O 10 Network Expl* O 245 Network Expl V 2367 Nevada Copper T 605 Nevada Energy* O 1 Nevada Energy V 4 Nevada Expl * O 673 Nevada Expl V 980 O 118 Nevada Sunrise* Nevada Sunrise V 483 Nevada Zinc V 49 Nevado Res V 11 New Age Metals* O 19 New Age Metals V 780 New Carolin Gd* O 230 New Carolin Gd V 451 38 New Destiny Mg V New Dimen Res* O 8 361 New Dimen Res V New Egy Min* O 50 0 New Energy Met* O New Energy Met V 229 New Gold T 3010 New Gold* X 9202 New Guinea Gld* O 283 New Jersey Mng* O 558 O 3 New Klondike* New Milln Iron T 1283 New Milln Iron* O 987 New Nadina* O 16 New Nadina V 10 New Oroperu V 12 New Pac Metals V 68 New Pac Metals* O 14 New Stratus* O 0 New Tech Min* O 5 New Tech Min 960 Newlox Gold 250 Newmac Res* O 1 Newmont Gdcorp* N 39251 Newmont Gdcorp T 677 Newport Expl V 65 Newport Gold* O 98 O 458 NewRange Gold* NewRange Gold V 836 Nexa Resources T 5 Nexa Resources* N 907 Nexgen Energy T 2882 Nexgen Energy* X 1756 NextSource Mat T 874 Nexus Gold* O 78 Nexus Gold V 586 NGEx Res* O 4 NGEx Res T 378 Nickel Creek T 1171 Nickel Creek* O 782 Nickel North V 330 Nicola Mg Inc V 1355 Nicola Mg Inc* O 3 Nighthawk Gold* O 131 Nighthawk Gold T 662 Niobay Metals V 80 Niocan Inc V 8 Niocorp Dev T 402 Niocorp Dev* O 357

0.01 0.01 0.01 - 0.00 0.03 0.00 51.66 47.79 50.04 + 1.35 52.57 28.77 0.11 0.09 0.10 + 0.01 0.46 0.08 0.08 0.07 0.07 + 0.00 0.36 0.06 0.20 0.20 0.20 unch 0.00 0.46 0.17 42.25 39.00 41.30 + 1.30 44.71 28.40 0.03 0.01 0.03 + 0.01 0.17 0.00 0.00 0.00 0.24 unch 0.00 0.28 0.24 0.16 0.15 0.15 - 0.01 0.24 0.15 0.35 0.31 0.34 + 0.02 1.30 0.25 0.26 0.23 0.25 + 0.01 1.03 0.19 0.83 0.74 0.80 + 0.02 1.80 0.55 0.19 0.19 0.19 unch 0.00 0.39 0.10 0.37 0.30 0.36 + 0.06 0.41 0.19 0.48 0.40 0.48 + 0.07 0.50 0.23 0.41 0.39 0.40 - 0.02 0.72 0.33 0.10 0.00 0.08 - 0.02 0.19 0.08 0.15 0.00 0.15 - 0.01 0.26 0.10 0.22 0.18 0.19 - 0.03 0.39 0.09 0.30 0.25 0.25 - 0.04 0.50 0.12 0.06 0.04 0.04 - 0.02 0.14 0.04 0.07 0.06 0.07 - 0.01 0.18 0.06 0.07 0.00 0.07 unch 0.00 0.22 0.05 0.11 0.00 0.11 - 0.05 0.80 0.09 0.05 0.04 0.05 + 0.00 0.08 0.03 0.07 0.06 0.06 - 0.01 0.10 0.05 0.08 0.08 0.08 + 0.01 0.33 0.07 0.10 0.10 0.10 unch 0.00 0.46 0.09 0.12 0.00 0.12 unch 0.00 0.25 0.10 0.02 0.02 0.02 unch 0.00 0.22 0.02 0.04 0.04 0.04 + 0.01 0.30 0.04 0.02 0.02 0.02 + 0.01 0.05 0.00 0.14 0.00 0.14 unch 0.00 0.14 0.14 0.18 0.00 0.18 + 0.03 4.40 0.14 1.09 1.00 1.00 - 0.03 3.15 0.90 0.82 0.73 0.73 - 0.04 2.43 0.70 0.00 0.00 0.00 - 0.00 0.00 0.00 0.16 0.13 0.13 - 0.04 0.25 0.13 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.08 0.06 0.08 + 0.03 0.11 0.04 0.05 0.04 0.05 + 0.00 0.08 0.03 0.08 0.05 0.07 + 0.02 0.17 0.03 0.10 0.00 0.09 + 0.02 0.22 0.05 0.28 0.00 0.28 unch 0.00 0.40 0.22 2.21 2.10 2.15 - 0.08 2.51 1.18 1.66 1.55 1.64 + 0.01 1.89 0.86 0.00 0.00 0.10 unch 0.00 0.01 0.01 0.01 - 0.00 0.05 0.01 0.03 0.02 0.02 - 0.01 0.08 0.02 0.03 0.03 0.03 unch 0.00 0.06 0.03 0.00 0.00 0.00 unch 0.00 0.04 0.00 31.08 30.21 30.92 + 0.77 40.03 29.06 41.87 40.56 41.69 + 1.33 44.55 40.01 0.34 0.31 0.34 + 0.04 0.38 0.22 0.03 0.02 0.02 - 0.01 0.04 0.02 0.12 0.09 0.11 + 0.03 0.21 0.04 0.16 0.12 0.15 + 0.04 0.26 0.07 13.52 12.54 13.14 + 0.09 21.75 11.00 9.97 9.27 9.72 + 0.03 17.15 8.22 1.97 1.84 1.95 + 0.03 3.31 1.84 1.47 1.36 1.46 + 0.02 2.53 1.36 0.10 0.09 0.10 unch 0.00 0.16 0.05 0.08 0.05 0.06 - 0.02 0.29 0.04 0.10 0.08 0.09 - 0.01 0.37 0.08 0.78 0.75 0.75 - 0.02 0.87 0.73 1.04 1.00 1.00 - 0.04 1.20 0.91 0.04 0.03 0.04 - 0.01 0.28 0.03 0.03 0.02 0.02 - 0.01 0.21 0.02 0.02 0.01 0.02 + 0.01 0.05 0.01 0.11 0.09 0.11 + 0.02 0.17 0.08 0.07 0.07 0.07 + 0.01 0.13 0.06 0.30 0.26 0.29 + 0.02 0.44 0.22 0.39 0.35 0.39 + 0.02 0.58 0.30 0.20 0.18 0.18 - 0.01 0.37 0.16 0.14 0.13 0.14 + 0.01 0.36 0.06 0.60 0.54 0.54 - 0.05 0.74 0.52 0.46 0.40 0.41 - 0.03 0.58 0.39

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(100s) Stock

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(100s) Stock

12-month

Exc Volume High Low Last Change High Low

Nippon Dragon V 227 Nippon Dragon* O 24 Nitinat Mnls* O 160 Nitinat Mnls V 2 Noble Metal V 793 Noble Metal * O 95 Noble Mineral V 63 Noble Mineral* O 17 Noka Res* O 393 Noram Vent V 107 Noranda Alum* O 6 Nordic Gold* O 98 Nordic Gold V 299 Noront Res V 317 Norra Metals V 248 Norsemont Cap* O 50 Norsemont Cap 73 Nortec Mnls V 201 564 North Am Nickl V North Am Nickl* O 1 North Am Pall T 728 North Am Pall* O 58 25 North Arrow Mn* O North Arrow Mn V 180 North Bay Res * O 1120 Northcliff Res T 59 Northern Light 208 Northern Uran V 44 Northisle C&G V 60 Norvista Cap V 174 T 298 NorZinc NorZinc* O 162 Nouveau Monde V 467 Nouveau Monde* O 32 NovaGold Res T 653 NovaGold Res* X 5185 Novo Res* O 438 Novo Res V 467 NRG Metals* O 1912 NRG Metals V 457 Nrthn Graphite V 56 O 49 Nrthn Graphite* Nrthn Lion* O 0 Nrthn Mnrls &E* O 3 Nrthn Shield V 985 Nrthn Superior* O 72 V 483 Nrthn Superior Nrthn Vertex* O 378 Nrthn Vertex V 471 NSGold V 0 26 NSS Res Inc Nthn Dynasty T 1374 Nthn Dynasty* X 6699 Nthrn Sphere* O 520 Nthrn Sphere 1250 Nubian Res V 77 Nuinsco Res 101 Nuinsco Res* O 114 V 541 NuLegacy Gold NuLegacy Gold* O 754 Nutrien* N 9084 T 10607 Nutrien NV Gold* O 66 NV Gold V 144 NX Uranium* O 20 NxGold Ltd* O 58 NxGold Ltd V 512 Nyrstar NV* O 0 O.T. Mining* O 4 OceanaGold* O 3 OceanaGold T 5643 162 Oceanic Iron O V Oceanus Res* O 24 Oceanus Res V 195 Olivut Res* O 9 Olivut Res V 52 Omineca Mining* O 5 Omineca Mining V 103 One World Lith* O 55 114 One World Lith Opawica Expl* O 0 Opawica Expl V 110 Opus One Res V 212 Orbite Tech* O 0 Orca Gold V 93 Orca Gold* O 110 V 657 Orefinders Res V 358 Orestone Mng Orex Mnrls* O 9 Orex Mnrls V 83 Orezone Gold* O 80 Orezone Gold V 511 Orford Mining V 642 OrganiMax* O 1 OrganiMax V 6 Origin Gold V 4 Original Sixtn* O 10 Orla Mng Ltd* O 10 469 Orla Mng Ltd T Oro East Mg* O 5 Oroco Res V 1990 Oroco Res* O 907 Orocobre T 100 Oronova Energy* O 174 V 197 Oronova Energy Oroplata Res* O 1682 Orosur Mng T 408 Orsu Metals V 31 Orsu Metals* O 0 Orvana Mnrls T 304 Orvana Mnrls* O 30 Osino Res V 33 Osisko Gold* N 2219 Osisko Gold T 1512 O 78 Osisko Metals* Osisko Metals V 842 Osisko Mng Inc T 1107 Osprey Gold V 5481 Otis Gold V 223 Otis Gold* O 65 Outcrop Gold V 177 Outcrop Gold* O 151 OZ Minerals* O 0

0.02 0.00 0.02 - 0.01 0.04 0.01 0.02 0.02 0.02 + 0.00 0.04 0.00 0.07 0.07 0.07 unch 0.00 0.11 0.04 0.00 0.00 0.09 unch 0.00 0.16 0.03 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.00 0.00 0.00 - 0.00 0.02 0.00 0.09 0.09 0.09 - 0.01 0.18 0.06 0.06 0.06 0.06 - 0.00 0.13 0.04 0.12 0.11 0.11 - 0.01 0.71 0.11 0.11 0.10 0.10 - 0.02 0.32 0.10 0.01 0.00 0.01 unch 0.00 0.06 0.01 0.04 0.03 0.03 - 0.01 0.12 0.02 0.05 0.04 0.04 unch 0.00 0.17 0.03 0.26 0.24 0.25 - 0.02 0.39 0.21 0.05 0.04 0.05 - 0.01 0.15 0.04 0.25 0.25 0.25 - 0.04 0.29 0.25 0.40 0.32 0.40 + 0.02 0.46 0.25 0.02 0.02 0.02 unch 0.00 0.09 0.02 0.03 0.02 0.02 unch 0.00 0.09 0.02 0.02 0.00 0.02 unch 0.00 0.06 0.01 12.03 11.02 11.30 - 0.54 26.30 8.62 8.95 8.25 8.39 - 0.41 19.91 6.62 0.06 0.06 0.06 unch 0.00 0.16 0.05 0.08 0.06 0.07 + 0.01 0.22 0.06 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.08 0.07 0.07 - 0.01 0.11 0.05 0.03 0.02 0.02 - 0.01 0.15 0.02 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.06 0.00 0.06 unch 0.00 0.16 0.05 0.11 0.09 0.10 unch 0.00 0.15 0.06 0.11 0.10 0.10 - 0.02 0.17 0.08 0.08 0.06 0.08 - 0.00 0.13 0.05 0.26 0.24 0.24 - 0.01 0.37 0.21 0.18 0.18 0.18 + 0.00 0.27 0.17 5.40 5.12 5.19 + 0.05 6.36 4.49 4.01 3.80 3.87 + 0.03 4.94 3.41 1.68 1.49 1.57 + 0.04 5.00 1.42 2.28 2.04 2.09 + 0.03 6.42 1.89 0.23 0.14 0.22 unch 0.00 0.29 0.03 0.33 0.23 0.27 - 0.04 1.52 0.12 0.17 0.15 0.15 - 0.02 0.45 0.14 0.12 0.11 0.11 + 0.00 0.34 0.09 0.00 0.00 0.15 unch 0.00 0.16 0.15 0.05 0.00 0.05 - 0.00 0.12 0.02 0.09 0.00 0.09 + 0.01 0.10 0.02 0.13 0.00 0.11 - 0.02 0.22 0.02 0.22 0.12 0.17 - 0.05 0.40 0.12 0.15 0.13 0.14 + 0.00 0.37 0.13 0.20 0.17 0.19 unch 0.00 0.48 0.17 0.00 0.00 0.11 unch 0.00 0.15 0.07 0.08 0.07 0.07 unch 0.00 0.45 0.07 0.74 0.61 0.73 + 0.07 1.47 0.55 0.55 0.46 0.55 + 0.06 1.12 0.42 0.01 0.01 0.01 unch 0.00 0.07 0.01 0.02 0.02 0.02 unch 0.00 0.10 0.01 0.09 0.09 0.09 unch 0.00 0.28 0.08 0.02 0.01 0.01 unch 0.00 0.08 0.01 0.01 0.00 0.01 + 0.00 0.04 0.00 0.10 0.09 0.10 - 0.01 0.22 0.08 0.08 0.07 0.07 - 0.01 0.17 0.07 51.33 49.33 49.40 - 2.73 58.99 43.96 68.96 66.48 66.50 - 3.42 76.17 59.97 0.12 0.11 0.11 - 0.01 0.33 0.05 0.16 0.15 0.15 unch 0.00 0.50 0.07 0.33 0.20 0.30 + 0.02 1.00 0.01 0.05 0.05 0.05 unch 0.00 0.22 0.05 0.06 0.05 0.06 - 0.01 0.29 0.05 0.00 0.00 0.39 unch 0.00 6.02 0.39 0.11 0.05 0.09 - 0.02 0.24 0.04 2.93 2.79 2.89 + 0.06 3.74 2.41 4.03 3.80 3.85 + 0.05 5.01 3.13 0.10 0.07 0.10 + 0.03 0.15 0.04 0.08 0.08 0.08 unch 0.00 0.17 0.04 0.11 0.09 0.09 - 0.02 0.23 0.05 0.12 0.07 0.07 - 0.05 0.12 0.05 0.13 0.11 0.13 + 0.02 0.16 0.07 0.06 0.05 0.05 - 0.02 0.07 0.01 0.09 0.07 0.09 unch 0.00 0.09 0.02 0.17 0.00 0.14 - 0.01 0.17 0.10 0.20 0.18 0.19 unch 0.00 0.22 0.12 0.00 0.00 0.05 unch 0.00 0.05 0.02 0.08 0.00 0.07 - 0.01 0.14 0.05 0.05 0.04 0.05 + 0.01 0.10 0.02 0.00 0.00 0.05 unch 0.00 0.17 0.00 0.39 0.36 0.37 unch 0.00 0.65 0.35 0.30 0.26 0.29 - 0.00 0.52 0.25 0.05 0.04 0.05 + 0.01 0.11 0.03 0.15 0.12 0.13 - 0.04 0.25 0.06 0.04 0.04 0.04 - 0.00 0.13 0.04 0.07 0.06 0.06 + 0.01 0.17 0.06 0.33 0.00 0.30 - 0.01 0.66 0.30 0.44 0.40 0.41 - 0.02 0.86 0.40 0.12 0.08 0.08 - 0.04 0.33 0.07 0.05 0.00 0.05 + 0.03 0.14 0.02 0.08 0.00 0.08 unch 0.00 0.66 0.07 0.00 0.00 0.09 unch 0.00 0.15 0.07 0.12 0.10 0.12 + 0.02 0.20 0.00 0.77 0.76 0.76 - 0.03 1.14 0.00 1.05 0.97 1.01 - 0.06 1.55 0.85 0.00 0.00 0.00 - 0.00 0.01 0.00 0.74 0.44 0.59 + 0.17 0.74 0.17 0.54 0.33 0.45 + 0.12 0.54 0.13 3.29 3.11 3.22 - 0.12 5.95 2.74 0.05 0.05 0.05 unch 0.00 0.10 0.05 0.08 0.07 0.07 - 0.01 0.16 0.05 0.26 0.20 0.21 - 0.05 0.38 0.10 0.06 0.05 0.05 - 0.01 0.20 0.02 0.29 0.27 0.27 unch 0.00 0.34 0.17 0.00 0.00 0.19 unch 0.00 0.26 0.13 0.19 0.17 0.19 + 0.02 0.23 0.12 0.15 0.12 0.15 + 0.02 0.18 0.09 0.37 0.00 0.37 unch 0.00 0.64 0.20 10.33 9.76 9.97 + 0.19 12.08 7.00 13.92 13.17 13.41 + 0.28 16.08 9.27 0.53 0.48 0.52 + 0.03 0.52 0.36 0.72 0.63 0.70 + 0.01 0.72 0.46 3.05 2.79 2.87 + 0.04 3.75 1.60 0.07 0.04 0.05 + 0.02 0.08 0.04 0.08 0.07 0.08 - 0.01 0.27 0.07 0.07 0.05 0.06 - 0.01 0.21 0.05 0.36 0.31 0.34 unch 0.00 0.50 0.10 0.26 0.23 0.26 - 0.00 0.33 0.01 6.37 0.00 6.37 - 0.15 8.02 5.90

Pac Arc Res V 10 74 Pac Bay Mnrls V Pac Bay Mnrls* O 7 40 Pac Booker Min V Pac Booker Min* O 10 Pac Imperial V 187 Pac Iron Ore V 6 Pac Ridge Expl V 2 Pac Ridge Expl* O 10 Pac Wildcat* O 688 Pacific Empire V 125 Pacific Rim 261 Pacific Rim* O 82 Pacific Silk V 0 Pacton Gold V 658 Paladin Energy* O 300 Palamina Corp V 25 Palamina Corp* O 5 Paleo Resource V 42 Paleo Resource* O 144 Palladium One V 1690 Pan Am Silver T 1960 Pan Am Silver* D 11267 Pan Global Res V 306 Pancontinental* O 24 Pancontinental V 212 Panex Res* O 75 Pangolin Dia V 1088 Panoro Mnrls V 33 PanTerra Gold* O 21 V 279 Pantheon Vent Para Resources V 63 Parallel Mng V 1020 Paramount Gold* X 73 Paringa Res* O 38 Paringa Res* D 0 Parlane Res V 33 Pasinex Res 89 Patriot Gold* O 97 Peabody Enrgy* N 2735 Pedro Res V 183 Pelangio Expl* O 39 Pelangio Expl V 1036

0.23 0.23 0.23 unch 0.00 0.45 0.20 0.09 0.00 0.07 unch 0.00 0.20 0.06 0.05 0.04 0.04 - 0.01 0.05 0.01 4.04 3.17 3.84 - 0.21 4.10 0.65 3.10 2.67 2.84 - 0.18 3.10 0.50 0.02 0.02 0.02 - 0.01 0.05 0.02 0.10 0.10 0.10 unch 0.00 0.11 0.06 0.05 0.00 0.05 unch 0.00 0.07 0.04 0.05 0.05 0.05 + 0.01 0.05 0.02 0.00 0.00 0.00 - 0.00 0.39 0.00 0.08 0.08 0.08 unch 0.00 0.16 0.06 0.19 0.16 0.16 - 0.03 0.49 0.10 0.15 0.11 0.11 - 0.04 0.38 0.07 0.00 0.00 0.02 unch 0.00 0.05 0.02 0.16 0.15 0.16 unch 0.00 1.02 0.15 0.10 0.08 0.09 + 0.00 0.35 0.07 0.30 0.00 0.30 + 0.04 0.42 0.21 0.19 0.00 0.19 - 0.07 0.33 0.16 0.06 0.00 0.06 + 0.01 0.10 0.03 0.05 0.04 0.05 + 0.02 0.08 0.02 0.12 0.11 0.11 + 0.01 0.15 0.03 15.77 14.40 14.67 - 0.70 24.22 14.41 11.70 10.71 10.91 - 0.53 18.67 10.72 0.08 0.07 0.08 unch 0.00 0.28 0.07 0.02 0.02 0.02 unch 0.00 0.07 0.01 0.04 0.03 0.04 + 0.01 0.09 0.02 0.01 0.00 0.00 - 0.00 0.01 0.00 0.04 0.03 0.04 + 0.01 0.08 0.03 0.18 0.18 0.18 unch 0.00 0.35 0.13 0.01 0.00 0.01 unch 0.00 0.02 0.00 0.05 0.04 0.05 - 0.01 0.12 0.04 0.17 0.17 0.17 - 0.01 0.22 0.12 0.03 0.02 0.02 unch 0.00 0.08 0.02 0.77 0.74 0.76 - 0.01 1.54 0.74 0.12 0.10 0.10 - 0.02 0.35 0.08 0.00 0.00 5.32 unch 0.00 10.38 4.70 0.04 0.00 0.04 - 0.01 0.28 0.03 0.07 0.04 0.04 - 0.03 0.18 0.04 0.07 0.06 0.06 + 0.00 0.15 0.04 29.13 26.53 26.62 - 2.98 47.84 26.61 0.17 0.16 0.17 + 0.01 0.29 0.16 0.18 0.00 0.13 - 0.05 0.29 0.02 0.22 0.17 0.17 - 0.06 0.38 0.12

P-Q

Week

12-month

Exc Volume High Low Last Change High Low

Peloton Mnrls 27 Peloton Mnrls* O 20 PepinNini Lith* O 130 Perseus Mng T 517 Pershing Res* O 131 Peruvian Metal* O 3 Peruvian Metal V 122 Petra Diamonds* O 50 Philex Mng* O 51 O 31 Philippine Mtl* Philippine Mtl V 157 15 Pine Cliff En* O Pine Cliff En T 537 Pinecrest Res V 5 Pistol Bay Mng* O 17 Pistol Bay Mng V 664 Pivit Explor 70 PJSC Polyus Gd* O 1 PJX Res V 145 Plata Latina V 1 Plate Res V 5 Plateau Energy V 286 Plateau Energy* O 139 Platinex Inc* O 36 Platinex Inc 289 18 Platinum Gp Mt T 243 Platinum Gp Mt* X Plato Gold V 726 Playfair Mng V 518 Playfair Mng* O 7 PolyMet Mng* X 1348 PolyMet Mng T 35 Portage Res* O 1789 Portofino Res V 160 Potash Ridge* O 433 Potash Ridge T 1780 Power Group V 90 O 1 Power Group* Power Metals* O 363 Power Metals V 865 PowerOre V 295 PPX Mining* O 35 PPX Mining V 73 Precipitate Gl* O 24 Precipitate Gl V 148 Premier Gold M T 2994 Premium Expl* O 28 Pretium Res* N 5872 Pretium Res T 1624 Primary Energy 75 Prism Res V 2 Prize Mng* O 164 Prize Mng V 861 ProAm Expl V 102 O 84 Probe Metals* Probe Metals V 130 Prog Planet V 621 Prog Planet* O 3 Promithian Gl * O 2 Prophecy Coal* O 724 Prophecy Coal T 1205 Prosper Gold V 326 Prospero Silvr V 89 Prospero Silvr* O 0 Provenance Gld 4 Providence V 661 O 145 Providence Gld* PUF Vent Inc * O 5704 Puma Expl V 657 Pure Alumina* O 23 Pure Energy* O 643 Pure Energy V 638 Pure Gold Mg* O 306 Pure Gold Mg V 612 Pure Nickel* O 346 Pure Nickel V 5237 Purepoint Uran V 620 Q-Gold Res* O 2 Q-Gold Res V 16 QC Precious V 297 QC Precious * O 86 QMC Quantum Ml V 260 QMC Quantum Ml* O 227 QMX Gold V 488 QMX Gold* O 72 Quadro Res V 30 Quantum Cobalt 192 Quartz Mtn Res V 0 Quartz Mtn Res* O 0 Quaterra Res V 723 Quaterra Res* O 480 14 Quest Rare Mnl* O Quinto Res V 166

0.10 0.09 0.09 - 0.01 0.14 0.03 0.07 0.07 0.07 - 0.01 0.11 0.05 0.00 0.00 0.00 - 0.00 0.02 0.00 0.45 0.43 0.44 + 0.02 0.50 0.25 0.01 0.01 0.01 + 0.00 0.05 0.00 0.03 0.03 0.03 + 0.00 0.07 0.02 0.04 0.00 0.04 unch 0.00 0.10 0.03 0.30 0.30 0.30 unch 0.00 0.92 0.23 0.04 0.03 0.03 unch 0.00 0.10 0.02 0.04 0.04 0.04 unch 0.00 0.07 0.03 0.14 0.11 0.11 + 0.04 0.14 0.04 0.16 0.16 0.16 unch 0.00 0.32 0.16 0.23 0.20 0.22 - 0.01 0.45 0.20 0.20 0.00 0.20 + 0.02 0.28 0.18 0.03 0.03 0.03 - 0.00 0.05 0.02 0.05 0.05 0.05 + 0.01 0.08 0.03 0.08 0.07 0.08 - 0.01 0.19 0.06 47.15 0.00 47.15 - 0.05 48.00 30.06 0.21 0.19 0.21 + 0.02 0.36 0.15 0.00 0.00 0.04 unch 0.00 0.05 0.02 0.04 0.04 0.04 unch 0.00 0.08 0.03 0.51 0.47 0.47 - 0.04 1.69 0.47 0.38 0.35 0.35 - 0.05 1.27 0.35 0.04 0.04 0.04 unch 0.00 0.09 0.04 0.06 0.00 0.06 + 0.01 0.12 0.03 1.93 1.72 1.87 - 0.07 2.91 1.15 1.45 1.35 1.35 - 0.08 2.17 0.83 0.02 0.01 0.02 unch 0.00 0.06 0.01 0.04 0.03 0.04 - 0.01 0.09 0.02 0.02 0.02 0.02 - 0.01 0.06 0.01 0.50 0.46 0.49 + 0.00 1.25 0.46 0.68 0.63 0.65 unch 0.00 1.60 0.63 0.00 0.00 0.00 - 0.00 0.02 0.00 0.06 0.05 0.05 - 0.01 0.42 0.05 0.07 0.05 0.05 - 0.01 0.08 0.02 0.09 0.07 0.07 - 0.02 0.11 0.03 0.11 0.10 0.10 - 0.04 1.50 0.10 0.08 0.08 0.08 - 0.01 0.18 0.01 0.09 0.07 0.08 - 0.01 0.41 0.07 0.11 0.10 0.11 unch 0.00 0.53 0.10 0.09 0.08 0.08 - 0.02 0.45 0.05 0.05 0.04 0.04 - 0.00 0.08 0.03 0.07 0.07 0.07 unch 0.00 0.11 0.05 0.07 0.07 0.07 - 0.00 0.12 0.03 0.09 0.09 0.09 - 0.01 0.15 0.04 1.91 1.74 1.76 + 0.03 2.85 1.39 0.00 0.00 0.00 unch 0.00 0.01 0.00 8.19 7.77 7.98 + 0.35 9.84 6.53 11.04 10.43 10.74 + 0.48 12.87 8.59 0.12 0.12 0.12 unch 0.00 1.20 0.08 0.00 0.00 0.04 unch 0.00 0.07 0.03 0.02 0.01 0.02 + 0.01 0.15 0.01 0.03 0.02 0.03 + 0.01 0.27 0.02 0.03 0.03 0.03 unch 0.00 0.04 0.02 0.75 0.72 0.73 - 0.02 1.12 0.68 1.00 0.94 0.97 unch 0.00 1.49 0.91 0.05 0.04 0.04 - 0.01 0.10 0.03 0.03 0.03 0.03 + 0.00 0.07 0.02 0.05 0.00 0.05 unch 0.00 0.10 0.01 0.20 0.13 0.15 - 0.03 2.49 0.09 0.23 0.18 0.19 - 0.04 0.74 0.11 0.08 0.06 0.07 - 0.01 0.18 0.06 0.07 0.00 0.07 unch 0.00 0.15 0.05 0.00 0.00 0.07 unch 0.00 0.11 0.04 0.13 0.00 0.13 + 0.01 0.39 0.10 0.15 0.12 0.13 - 0.03 0.20 0.08 0.11 0.09 0.09 - 0.02 0.16 0.08 0.35 0.26 0.34 + 0.03 0.64 0.06 0.03 0.02 0.02 - 0.01 0.07 0.02 0.04 0.03 0.04 + 0.00 0.06 0.02 0.08 0.07 0.08 + 0.00 0.22 0.03 0.12 0.09 0.10 unch 0.00 0.29 0.05 0.42 0.39 0.40 + 0.01 0.62 0.38 0.56 0.53 0.54 + 0.02 0.81 0.50 0.03 0.01 0.03 + 0.02 0.02 0.00 0.04 0.02 0.04 + 0.02 0.03 0.01 0.07 0.07 0.07 - 0.01 0.11 0.06 0.18 0.00 0.18 - 0.02 0.20 0.07 0.25 0.24 0.24 + 0.01 0.30 0.10 0.26 0.22 0.26 + 0.02 0.48 0.22 0.20 0.16 0.19 + 0.03 0.33 0.16 0.23 0.20 0.21 unch 0.00 0.61 0.16 0.17 0.15 0.16 - 0.01 0.50 0.12 0.06 0.05 0.05 unch 0.00 0.18 0.04 0.04 0.00 0.04 + 0.01 0.15 0.03 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.06 0.05 0.06 + 0.01 0.25 0.04 0.00 0.00 0.35 unch 0.00 0.80 0.27 0.00 0.00 0.23 unch 0.00 0.70 0.22 0.10 0.06 0.08 + 0.02 0.13 0.05 0.08 0.04 0.06 + 0.01 0.10 0.04 0.00 0.00 0.00 - 0.00 0.01 0.00 0.05 0.05 0.05 unch 0.00 0.10 0.02

Rackla Mtls* O 0 Rackla Mtls V 73 Radisson Mng V 389 Radius Gold V 3673 Rain City 111 Rainforest Res* O 0 Rainy Mtn Royl* O 2 Rainy Mtn Royl V 961 Rambler Metals* O 24 O 480 Rare Element* Rathdowney Res V 52 Ravencrest Res 696 25 Red Eagle Mng* O Red Moon Res V 4 448 Red Pine Expl V Redstar Gold V 96 Redstar Gold* O 362 Regulus Res V 254 Remington Res V 8 O 116 Renaissance Gd* Renaissance Gd V 314 Renforth Res 1121 Resolve Vent V 21 Resource Cap* O 85 Reunion Gold V 467 Revelo Res V 8996 Revival Gold * O 54 Revival Gold V 146 Rhyolite Res V 128 Richmond Mnls V 250 Richmond Mnls* O 250 Ridgestone M’g V 73 Rift Valley 253 Riley Resource V 23 Rimrock Gold* O 22745 Rio Silver V 40 Rio Tinto* N 14722 Rio Tinto* O 7 Rio Tinto* O 1 Rio2 Limited* O 38 Rio2 Limited V 93 Rise Gold Corp 584 Rise Gold Corp* O 98 Riverside Res* O 469 Riverside Res V 694 Rizal Res V 113 RJK Explor V 1076 RJK Explor* O 35 Robex Res V 569 Rochester Res V 5 Rochester Res* O 0 Rock Tech Lith* O 0 Rock Tech Lith V 76 Rockcliff Met 352 Rockcliff Met* O 5 Rockex Mng 157 Rockhaven Res V 111 V 474 Rockridge Res Rockshield Cap* O 564 Rockshield Cap 93 Rockwealth Res V 0 Rockwell Diam* O 2 Rodinia Lithm V 765 Rogue Res* O 0 Rogue Res V 17 Rokmaster Res V 815 Romios Gold Rs V 112 Romios Gold Rs* O 54 RosCan Gold* O 135 RosCan Gold V 317 Rosita Mg Corp* O 19 Rosita Mg Corp V 2 Rotation Mnls V 449 Roughrider Exp V 157 Rover Metals* O 30 Roxgold T 14411 Roxgold* O 86 Royal Gold* D 1662 Royal Mines &M* O 305 Royal Nickel T 2037

0.08 0.00 0.08 unch 0.00 0.11 0.05 0.13 0.00 0.13 unch 0.00 0.15 0.06 0.13 0.12 0.12 - 0.01 0.15 0.09 0.27 0.21 0.26 + 0.01 0.47 0.09 0.14 0.08 0.14 + 0.05 0.14 0.08 0.00 0.00 5.50 unch 0.00 9.20 3.50 0.01 0.00 0.01 + 0.00 0.03 0.01 0.02 0.02 0.02 + 0.01 0.04 0.02 0.03 0.01 0.01 - 0.02 0.05 0.01 0.18 0.10 0.14 + 0.04 0.27 0.03 0.11 0.05 0.07 - 0.04 0.15 0.03 0.64 0.59 0.59 - 0.02 1.09 0.38 0.00 0.00 0.00 + 0.00 0.18 0.00 0.06 0.00 0.06 unch 0.00 0.12 0.01 0.04 0.04 0.04 + 0.01 0.08 0.04 0.03 0.03 0.03 + 0.01 0.04 0.02 0.02 0.02 0.02 - 0.00 0.04 0.01 1.69 1.39 1.56 + 0.07 2.30 1.25 0.19 0.19 0.19 unch 0.00 0.30 0.17 0.16 0.15 0.15 + 0.01 0.18 0.11 0.21 0.19 0.19 - 0.01 0.24 0.15 0.05 0.04 0.05 unch 0.00 0.06 0.02 0.08 0.08 0.08 unch 0.00 0.14 0.07 0.00 0.00 0.00 - 0.00 0.04 0.00 0.19 0.18 0.19 + 0.01 0.23 0.12 0.03 0.02 0.03 + 0.01 0.03 0.01 0.39 0.36 0.36 - 0.02 0.73 0.35 0.52 0.00 0.49 - 0.04 0.99 0.48 0.24 0.20 0.24 + 0.04 0.26 0.15 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.21 0.21 0.21 unch 0.00 0.30 0.18 0.08 0.07 0.08 unch 0.00 0.10 0.05 0.20 0.20 0.20 unch 0.00 0.41 0.10 0.00 0.00 0.00 - 0.00 0.00 0.00 0.04 0.04 0.04 unch 0.00 0.06 0.03 60.34 56.92 59.96 + 1.09 63.27 44.62 58.15 57.15 58.15 + 0.60 61.61 43.47 67.62 67.00 67.62 + 0.62 69.98 50.48 0.28 0.25 0.26 - 0.03 0.71 0.24 0.37 0.35 0.37 - 0.01 1.15 0.31 0.08 0.07 0.08 + 0.01 0.15 0.05 0.06 0.05 0.05 - 0.01 0.11 0.04 0.14 0.12 0.14 + 0.02 0.42 0.10 0.18 0.16 0.18 + 0.02 0.33 0.13 0.01 0.01 0.01 unch 0.00 0.05 0.01 0.09 0.08 0.08 - 0.02 0.23 0.04 0.07 0.07 0.07 unch 0.00 0.13 0.00 0.08 0.07 0.07 - 0.01 0.12 0.07 0.04 0.00 0.04 - 0.01 0.06 0.03 0.00 0.00 0.02 unch 0.00 0.04 0.02 0.00 0.00 0.56 unch 0.00 1.19 0.54 0.70 0.00 0.67 - 0.03 1.52 0.68 0.12 0.10 0.11 - 0.02 0.19 0.10 0.08 0.08 0.08 - 0.01 0.14 0.02 0.04 0.02 0.04 + 0.01 0.10 0.01 0.13 0.11 0.13 + 0.02 0.19 0.09 0.26 0.24 0.24 - 0.03 0.39 0.20 0.07 0.00 0.07 + 0.01 0.22 0.05 0.09 0.08 0.08 - 0.01 0.29 0.08 0.00 0.00 0.13 unch 0.00 0.20 0.11 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.05 0.05 0.05 unch 0.00 0.23 0.05 0.00 0.00 0.06 unch 0.00 0.21 0.04 0.07 0.00 0.06 unch 0.00 0.26 0.06 0.03 0.03 0.03 unch 0.00 0.13 0.03 0.05 0.04 0.05 + 0.01 0.09 0.04 0.04 0.03 0.04 + 0.01 0.07 0.02 0.11 0.11 0.11 + 0.01 0.23 0.09 0.15 0.13 0.14 - 0.01 0.33 0.05 0.00 0.00 0.00 unch 0.00 0.05 0.00 0.00 0.00 0.04 unch 0.00 0.08 0.03 0.25 0.20 0.21 unch 0.00 0.25 0.07 0.07 0.06 0.06 - 0.01 0.25 0.06 0.13 0.06 0.06 unch 0.00 2.01 0.04 0.95 0.88 0.92 + 0.03 1.29 0.72 0.70 0.00 0.69 + 0.03 0.99 0.55 85.02 82.72 84.62 + 1.70 98.53 70.16 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.39 0.37 0.38 - 0.01 1.18 0.07

R

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Royal Nickel* O 640 Royal Rd Mnrls V 2479 0 Royal Std Mnrl* O RT Minerals V 6 RT Minerals* O 7 RTG Mining T 38 O 228 Rubicon Mnrls* T 189 Rubicon Mnrls Rugby Mng V 161 7 Running Fox Rs* O 484 Running Fox Rs V Rupert Res V 65 Rusoro Mng* O 2 Rusoro Mng V 883

0.05 0.29 0.27 0.28 - 0.01 0.90 0.21 0.18 0.20 + 0.02 0.21 0.06 0.01 0.00 0.01 - 0.29 3.14 0.01 0.05 unch 0.00 0.25 0.07 0.06 0.06 0.00 0.04 0.04 0.04 - 0.01 0.13 0.09 unch 0.00 0.16 0.09 0.00 0.09 0.63 0.77 0.69 0.76 + 0.05 1.26 0.86 1.03 0.92 0.98 + 0.04 1.73 0.14 unch 0.00 0.36 0.17 0.16 0.16 0.01 0.01 0.01 - 0.00 0.02 0.01 0.02 0.02 0.02 + 0.01 0.03 0.01 0.75 0.90 0.00 0.90 + 0.05 1.12 0.04 0.08 0.06 0.07 - 0.01 0.32 0.06 0.10 0.09 0.09 - 0.01 0.42

T 457 Sabina Gd&Slvr O 305 Sabina Gd&Slvr* Sable Res* O 10 Sable Res V 135 Sage Gold* O 0 Sailfish Rylty V 23 Saint Jean* O 35 Saint Jean V 81 Salazar Res* O 37 Salazar Res V 278 Salt Lake Pot* O 100 Sama Res V 252 Sama Res* O 117 Samco Gold V 41 Samex Mng* O 63 84 San Gold Corp* O San Marco Res* O 250 936 San Marco Res V V 635 Sanatana Diam Sandfire Res V 273 Sandfire Res* O 405 O 502 Sandspring Res* V 708 Sandspring Res T 4325 Sandstorm Gold X 5184 Sandstorm Gold* Santa Fe Gold* O 255 V 384 Santacruz Silv Sarama Res V 1286 Sarissa Res* O 3198 Satori Res V 542 Satori Res* O 0 Saturn Mnrls V 1074 Savary Gold V 35 Saville Res V 437 141 Scandium Intl T O 213 Scandium Intl* Scorpio Gold V 384 51 Scorpio Gold * O Scotch Creek 14 ScoZinc Mg V 5 ScoZinc Mg* O 0 Seabridge Gld T 386 Seabridge Gld* N 1745 Seafield Res* O 96 Search Mnls V 238 Searchlight* O 1 O 104 SearchlightMin* V 87 SearchlightRes Secova Mtls V 601 Secova Mtls* O 101 Sego Res V 107 Select Sands V 416 T 3877 Semafo Serabi Gold T 27 Serabi Gold* O 0 Serengeti Res V 108 Shamrock Ent 25 Sherritt Intl T 8269 O 0 Shine Minerals* V 5 Shoshoni Gold 15792 N Sibanye-Stillw* O 1 Sibanye-Stillw* O 29 Sidney Resrces* Sienna Res* O 7 Sienna Res V 134 5 Sierra Madre D V Sierra Metals* X 53 Sierra Metals T 25 V 19 Sigma Lithium Signature Res V 287 O 207 Signature Res* 30 Silver Bear Rs* O 241 Silver Bear Rs T 391 Silver Bull Re T Silver Bull Re* O 535 Silver Fields* O 2 Silver Grail V 193 Silver Hill* O 4 250 Silver Mtn Mns V O 75 Silver Predatr* Silver Predatr V 20 Silver Range* O 17 Silver Range V 31 Silver Scott* O 18 Silver Spruce V 701 O 26 Silver Spruce* Silver Viper V 315 Silver Viper* O 233 T 1332 Silvercorp Met X 1319 Silvercorp Met* SilverCrest* X 474 SilverCrest V 2042 O 8 Silverore Mns* O 5 Silverstar Res* Sirios Res* O 200 Sirios Res V 395 Sitka Gold 347 Sixty North* O 770 Sixty North 378 Skeena Res* O 172 Skeena Res V 434 Sky Gold V 1318 Sky Gold* O 0 V 405 Skyharbour Res O 326 Skyharbour Res* Slam Explor* O 1 Slam Explor V 16 286 Slave Lake Zn V 317 Sojourn Explor O 125 Sojourn Explor* Sokoman Min V 500 O 23 Sokoman Min* SolGold plc T 41 SolGold plc* O 22 T 63 Solitario Ex&R X 111 Solitario Ex&R* Solstice Gold V 123 14 Sonora Gld & S V Sonoro Mtls* O 1047 Sonoro Mtls V 691 South32* O 4 Southern Arc* O 7 Southern Arc V 3 N 3476 Southern Copp* O 305 Southern Silvr* Southern Silvr V 749 Spanish Mtn Gd* O 289 385 Spanish Mtn Gd V Sparton Res V 150 Sparton Res* O 11 O 53 Spearmint Res* Spearmint Res 629 Spey Resources 75 Sphinx Res V 489 163 Sprott Res Hld T 234 Spruce Ridge R V SRG Graphite V 81 SSR Mining* D 3767 SSR Mining T 1501 St Augustine T 184 St-Georges Eco 263 O 31 St-Georges Eco* V 88 Stakeholdr Gld O 15 Stakeholdr Gld* O 1623 Standard Graph* Standard Lith V 680 O 58 Standard Metal* Stans Energy V 190 O 110 Stans Energy* O 91 Star Diamond* Star Diamond T 779 Star Gold* O 68 O 28 Star Mountain* Starcore Intl T 63 1 Starr Peak Exp* O 362 Starr Peak Exp V O 0 Steele Oceanic* Stellar Africa* O 6 Stellar Africa V 4

0.99 1.09 1.04 1.09 + 0.04 1.78 0.73 0.82 0.77 0.82 + 0.05 1.39 0.08 0.09 0.00 0.09 + 0.00 0.28 0.11 0.13 0.11 0.13 - 0.01 0.37 0.00 unch 0.00 0.05 0.00 0.00 0.00 0.70 1.10 1.00 1.02 - 0.08 1.68 0.01 0.02 0.01 0.01 - 0.01 0.04 0.02 0.03 0.02 0.03 + 0.01 0.12 0.07 unch 0.00 0.15 0.12 0.12 0.12 0.10 0.18 0.16 0.17 + 0.01 0.19 0.44 0.39 0.39 - 0.05 0.44 0.31 0.22 0.34 0.32 0.32 - 0.02 0.44 0.17 0.24 0.23 0.24 - 0.00 0.33 0.02 0.06 0.06 0.06 - 0.01 0.08 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 - 0.00 0.01 0.00 0.03 0.03 0.03 unch 0.00 0.16 0.03 0.05 0.04 0.05 unch 0.00 0.23 0.04 0.02 unch 0.00 0.06 0.05 0.05 0.05 0.06 unch 0.00 0.11 0.10 0.09 0.09 0.05 0.08 0.07 0.07 - 0.00 0.10 0.11 0.02 0.28 0.15 0.11 0.14 + 0.15 0.20 0.16 0.18 + 0.02 0.35 4.60 7.08 6.85 7.02 + 0.21 7.84 3.48 5.27 5.09 5.21 + 0.14 5.89 0.08 0.06 0.08 + 0.00 0.14 0.04 0.05 0.06 0.05 0.06 + 0.01 0.14 0.05 0.12 0.09 0.10 + 0.01 0.12 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.04 0.07 0.06 0.07 - 0.01 0.10 0.03 unch 0.00 0.07 0.05 0.00 0.05 0.11 0.15 0.14 0.15 - 0.01 0.30 0.04 unch 0.00 0.13 0.12 0.12 0.12 0.04 0.05 0.04 0.04 - 0.01 0.08 0.16 0.13 0.14 - 0.01 0.32 0.11 0.09 0.12 0.09 0.11 + 0.00 0.24 0.01 0.12 0.08 0.10 + 0.03 0.16 0.09 0.05 0.07 + 0.03 0.11 0.01 0.10 unch 0.00 0.13 0.10 0.10 0.10 0.39 0.47 0.00 0.43 - 0.04 1.10 0.30 unch 0.00 0.74 0.00 0.00 0.37 13.19 16.25 14.78 15.37 + 0.07 20.10 10.25 unch 0.00 15.30 12.07 11.00 11.42 0.00 unch 0.00 0.02 0.00 0.00 0.00 0.03 0.05 0.04 0.04 - 0.01 0.07 0.01 unch 0.00 0.15 0.02 0.00 0.01 0.01 0.06 0.00 0.06 - 0.00 0.07 0.02 0.03 0.03 0.03 - 0.01 0.09 0.02 0.00 0.15 unch 0.03 0.03 0.03 0.01 0.02 0.02 0.02 - 0.00 0.10 0.03 0.05 0.04 0.05 + 0.01 0.07 0.07 0.09 0.08 0.09 + 0.01 0.51 2.24 3.93 3.73 3.91 + 0.12 4.00 0.45 0.49 0.45 0.48 - 0.01 1.40 0.65 unch 0.00 0.82 0.00 0.00 0.65 0.12 0.23 0.20 0.21 - 0.01 0.60 0.02 0.03 0.02 0.02 - 0.01 0.07 0.19 0.22 0.19 0.20 - 0.02 1.32 0.04 unch 0.00 0.10 0.00 0.00 0.04 0.03 unch 0.00 0.08 0.03 0.03 0.03 2.02 3.55 3.17 3.23 - 0.37 4.94 0.53 0.86 0.00 0.86 - 0.13 1.27 0.00 0.00 0.00 0.00 + 0.00 0.01 0.03 0.03 0.03 0.03 + 0.00 0.10 0.04 0.05 0.05 0.05 - 0.01 0.11 0.00 0.00 0.06 unch 0.00 0.15 0.06 1.26 1.40 1.26 1.30 - 0.07 2.90 1.80 1.87 1.78 1.78 - 0.08 3.85 1.20 1.80 1.68 1.80 + 0.01 2.40 0.05 0.08 0.06 0.08 + 0.01 0.13 0.05 0.06 0.05 0.06 + 0.00 0.10 0.08 0.08 0.08 - 0.00 0.19 0.08 0.13 0.10 0.11 + 0.01 0.24 0.10 0.10 0.10 0.10 unch 0.00 0.21 0.09 0.08 0.07 0.07 - 0.00 0.16 0.07 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.02 0.04 0.00 0.04 + 0.01 0.10 0.08 unch 0.00 0.25 0.16 0.16 0.16 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.04 unch 0.00 0.07 0.06 0.05 0.06 0.06 unch 0.00 0.12 0.07 0.00 0.07 0.06 0.07 0.06 0.07 - 0.01 0.13 0.08 unch 0.00 0.18 0.09 0.00 0.09 0.01 0.02 0.01 0.02 + 0.01 0.10 0.02 0.06 0.04 0.05 - 0.01 0.06 0.01 0.03 0.00 0.03 + 0.01 0.05 0.07 0.26 0.00 0.26 + 0.05 0.28 0.07 0.18 0.00 0.18 + 0.05 0.21 2.43 3.03 2.86 2.91 + 0.02 4.02 1.83 2.25 2.10 2.16 + 0.02 3.12 1.66 3.65 2.96 3.65 + 0.40 3.89 2.20 4.78 3.99 4.50 + 0.23 5.02 0.02 unch 0.00 0.03 0.02 0.02 0.02 0.01 0.04 0.00 0.04 - 0.00 0.18 0.09 0.13 0.11 0.11 - 0.02 0.20 0.12 0.18 0.16 0.16 - 0.02 0.28 0.04 0.11 0.09 0.10 - 0.01 0.23 0.03 0.03 0.03 0.03 - 0.00 0.16 0.03 0.05 0.04 0.05 + 0.02 0.24 0.19 0.36 0.30 0.31 - 0.05 0.52 0.27 0.49 0.41 0.41 - 0.09 0.70 0.03 unch 0.00 0.10 0.04 0.04 0.04 0.02 0.02 0.00 0.02 - 0.00 0.09 0.33 0.38 0.34 0.35 + 0.01 0.57 0.25 0.28 0.25 0.26 + 0.01 0.44 0.01 unch 0.00 0.03 0.01 0.00 0.01 0.02 unch 0.00 0.05 0.02 0.02 0.02 0.08 0.07 0.08 + 0.02 0.13 0.06 0.07 0.08 0.07 0.08 - 0.01 0.20 0.05 0.05 0.05 0.05 - 0.01 0.12 0.04 unch 0.00 0.58 0.09 0.09 0.09 0.00 0.07 0.07 0.07 - 0.00 0.45 0.32 0.70 0.65 0.65 - 0.05 0.76 0.27 0.54 0.50 0.50 - 0.01 0.58 0.26 0.49 0.49 0.49 + 0.01 0.60 0.19 0.38 0.36 0.37 - 0.00 0.54 0.11 0.17 0.16 0.17 + 0.01 0.26 0.05 0.05 0.05 - 0.01 0.12 0.05 0.07 0.14 0.12 0.14 + 0.01 0.16 0.07 0.18 0.16 0.18 + 0.02 0.20 2.16 2.31 2.23 2.31 + 0.06 2.98 0.20 0.31 0.00 0.31 + 0.02 0.47 0.27 0.50 0.00 0.50 + 0.07 0.62 29.01 35.66 34.00 34.72 - 0.93 52.63 0.08 0.14 0.12 0.12 - 0.01 0.22 0.11 0.19 0.17 0.17 - 0.01 0.27 0.06 0.04 0.06 + 0.01 0.09 0.03 0.08 0.06 0.07 + 0.01 0.10 0.05 0.04 unch 0.00 0.12 0.05 0.00 0.05 0.03 0.04 0.03 0.03 - 0.00 0.09 0.00 0.03 0.02 0.02 - 0.01 0.08 0.02 unch 0.00 0.06 0.03 0.02 0.03 0.04 unch 0.00 0.16 0.08 0.07 0.08 0.03 0.04 0.00 0.04 + 0.01 0.07 1.60 1.48 1.54 - 0.01 2.60 0.98 0.05 0.04 0.04 - 0.01 0.13 0.02 0.64 0.91 0.80 0.91 + 0.09 1.48 11.28 10.84 10.96 + 0.23 15.17 8.11 10.71 15.19 14.57 14.75 + 0.35 20.00 0.02 unch 0.00 0.03 0.03 0.02 0.02 0.04 0.15 0.12 0.14 - 0.01 0.32 0.03 0.12 0.10 0.10 - 0.02 0.24 0.03 0.04 0.03 0.04 - 0.01 0.25 0.02 0.02 0.02 0.02 - 0.00 0.19 0.29 0.40 0.34 0.39 + 0.03 1.13 0.79 0.86 0.74 0.77 - 0.11 1.82 0.02 0.07 0.03 0.07 + 0.00 0.23 0.02 0.04 0.04 0.04 - 0.01 0.06 0.01 unch 0.00 0.05 0.03 0.02 0.03 0.12 0.18 0.17 0.18 + 0.00 0.29 0.17 0.25 0.23 0.24 - 0.01 0.38 0.02 0.00 0.30 0.03 - 0.05 0.00 0.02 0.03 0.02 0.02 - 0.00 0.03 0.07 0.08 0.00 0.08 - 0.01 0.20 0.20 0.00 0.20 unch 0.00 0.20 0.20 0.32 0.29 0.30 - 0.02 0.32 0.09 0.55 unch 0.00 0.96 0.00 0.00 0.55 0.01 0.02 0.02 0.02 + 0.00 0.03 0.01 0.03 0.00 0.02 - 0.01 0.06

S

2019-05-21 10:59 AM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / MAY 27–JUNE 9, 2019

Week

12-month

Exc Volume High Low Last Change High Low

Stelmine Can V 286 Steppe Gold T 91 Sterling Grp* O 1 Stornoway Diam T 3180 O 153 Stornoway Diam* Stratabd Mnr V 68 Strategic Metl* O 34 Strategic Metl V 72 Strategic Res* O 0 Strategic Res V 428 Stria Lithium V 326 V 97 Strikepoint Gd Strikepoint Gd* O 99 V 192 Strongbow Expl Strongbow Expl* O 4 Stroud Res V 53 Sulliden Mng T 76 Sun Metals V 1055 Suncor Energy T 15614 N 10972 Suncor Energy* Superior Gold* O 74 Superior Gold V 138 Superior Mng V 2 Supreme Metal* O 0 Supreme Metals 740 Surge Copper * O 20 Surge Copper V 39 Surge Explor* O 30 Surge Explor V 43 Sutter Gold* O 1 Sutter Gold V 2748 Syrah Res* O 99

0.15 0.12 0.14 + 0.01 0.26 0.09 0.70 0.61 0.70 unch 0.00 2.01 0.60 0.01 0.01 0.01 unch 0.00 0.10 0.01 0.06 0.05 0.06 - 0.01 0.54 0.05 0.05 0.04 0.05 - 0.00 0.44 0.04 0.01 0.01 0.01 unch 0.00 0.07 0.01 0.24 0.21 0.22 - 0.02 0.37 0.21 0.32 0.29 0.30 unch 0.00 0.48 0.29 0.00 0.00 0.22 unch 0.00 0.22 0.12 0.70 0.48 0.62 unch 0.00 0.39 0.16 0.03 0.02 0.02 + 0.01 0.05 0.02 0.15 0.14 0.15 + 0.01 0.29 0.11 0.11 0.10 0.11 + 0.01 0.23 0.08 0.12 0.10 0.11 - 0.01 0.28 0.10 0.07 0.07 0.07 unch 0.00 0.21 0.07 0.01 0.01 0.01 - 0.01 0.02 0.01 0.08 0.08 0.08 - 0.01 0.33 0.08 0.63 0.50 0.62 + 0.08 0.65 0.12 43.93 42.21 43.33 + 0.57 55.47 35.53 32.72 31.34 32.18 + 0.27 42.55 25.81 0.55 0.47 0.47 + 0.02 1.06 0.33 0.73 0.63 0.63 unch 0.00 1.39 0.44 0.10 0.10 0.10 unch 0.00 0.10 0.06 0.00 0.00 0.02 unch 0.00 0.03 0.02 0.02 0.01 0.01 - 0.01 0.05 0.01 0.03 0.03 0.03 unch 0.00 0.11 0.03 0.07 0.00 0.06 + 0.01 0.14 0.04 0.04 0.03 0.04 + 0.00 0.20 0.02 0.06 0.04 0.05 + 0.01 0.25 0.03 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.87 0.76 0.85 + 0.02 2.65 0.71

Taiga Gold 161 Taiga Gold* O 3 Tajiri Res V 248 Taku Gold* O 68 Taku Gold 106 Talisker Res 154 Talisker Res* O 47 Talmora Diamd 55 Talon Metals T 426 Tamino Mnrls* O 14461 Tango Mining V 67 V 255 Tanqueray Expl Tantalex Res 423 Tanzania Mnls* O 0 Tanzania Rlty T 96 Tanzania Rlty* X 683 Taranis Res* O 0 Taranis Res V 5 Tarku Res V 229 Tartisan Nick* O 17 Tartisan Nick 552 Taseko Mines T 776 Taseko Mines* X 1474 Tearlach Res V 15 T 7162 Teck Res Teck Res T 12 Teck Res* N 13203 Telson Res * O 11 Telson Res V 43 Tembo Gold V 214 Tembo Gold* O 383 Teranga Gold T 798 Teranga Gold* O 39 Teras Res V 103 Teras Res* O 6 Terraco Gold V 140 Terrax Mnrls* O 29 Terrax Mnrls V 109 Terreno Res V 38 Teslin Rvr Res V 629 Tesoro Mnrls V 2 Tesoro Mnrls* O 1 Tethyan Res V 148 Teuton Res V 127 Teuton Res* O 10 Texas Mineral* O 201 Themac Res V 2 Thor Expl V 57 Thunder Mtn Gd* O 106

0.08 0.06 0.08 + 0.01 0.19 0.06 0.06 0.05 0.06 + 0.01 0.15 0.05 0.05 0.04 0.05 + 0.01 0.18 0.04 0.04 0.00 0.04 - 0.02 0.12 0.02 0.06 0.05 0.05 - 0.01 0.15 0.04 0.14 0.00 0.13 - 0.01 0.16 0.08 0.09 0.07 0.09 - 0.01 0.10 0.00 0.05 0.05 0.05 unch 0.00 0.06 0.01 0.15 0.13 0.15 + 0.02 0.15 0.06 0.00 0.00 0.00 - 0.00 0.00 0.00 0.01 0.00 0.01 - 0.01 0.04 0.01 0.72 0.67 0.70 unch 0.00 1.32 0.58 0.03 0.02 0.03 unch 0.00 0.15 0.02 0.00 0.00 0.15 unch 0.00 0.15 0.12 1.04 0.91 0.93 - 0.07 1.32 0.34 0.82 0.67 0.70 - 0.06 0.94 0.25 0.00 0.00 0.06 unch 0.00 0.09 0.03 0.08 0.08 0.08 unch 0.00 0.12 0.05 0.04 0.03 0.04 + 0.01 0.05 0.02 0.03 0.02 0.03 + 0.01 0.06 0.02 0.05 0.04 0.04 - 0.01 0.13 0.02 0.80 0.70 0.75 - 0.05 1.80 0.60 0.60 0.53 0.55 - 0.05 1.40 0.44 0.20 0.20 0.20 unch 0.00 0.28 0.03 28.91 27.35 27.46 - 1.94 39.08 23.90 29.85 27.52 27.52 - 1.94 39.00 23.89 21.49 20.32 20.42 - 1.53 30.11 18.17 0.25 0.00 0.24 + 0.00 0.67 0.23 0.35 0.33 0.33 - 0.01 0.91 0.32 0.02 0.02 0.02 + 0.01 0.04 0.01 0.02 0.00 0.01 - 0.01 0.03 0.01 3.46 3.05 3.20 + 0.19 5.63 2.97 2.57 2.30 2.35 + 0.10 4.33 2.23 0.06 0.05 0.05 - 0.01 0.12 0.04 0.04 0.03 0.03 - 0.01 0.07 0.03 0.09 0.08 0.08 unch 0.00 0.11 0.06 0.28 0.00 0.26 - 0.01 0.36 0.25 0.38 0.36 0.36 - 0.02 0.50 0.33 0.03 0.03 0.03 - 0.01 0.05 0.02 0.42 0.41 0.42 - 0.01 0.60 0.33 0.05 0.00 0.05 unch 0.00 0.07 0.05 0.03 0.03 0.03 unch 0.00 0.04 0.03 0.66 0.64 0.64 - 0.01 0.85 0.14 0.17 0.16 0.17 + 0.01 0.24 0.10 0.12 0.12 0.12 unch 0.00 0.18 0.07 0.21 0.12 0.21 + 0.01 0.35 0.10 0.06 0.00 0.06 unch 0.00 0.09 0.03 0.15 0.14 0.14 unch 0.00 0.22 0.13 0.10 0.03 0.08 - 0.01 0.21 0.03

T

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Thunderstruck V 362 O 34 Thunderstruck* Tiger Intl V 2 Till Capital V 0 V 42 Timberline Res Timberline Res* O 229 Tinka Res V 201 Tinka Res* O 56 Tintina Mines V 13 Tisdale Res* O 0 Tisdale Res V 56 Titan Mining T 342 Titan Mining* O 2 Titanium Corp V 86 O 10 TMAC Resource* T 599 TMAC Resources TNR Gold V 126 50 Toachi Mg Inc* O Toachi Mg Inc V 323 Tocvan Venture 25 Tombstone Expl* O 2253 O 8 Tonogold Res* Torex Gold* O 38 Torex Gold T 1335 Torq Resources* O 2 Torq Resources V 82 Tower Res V 494 Transatlantic V 26 Transatlantic* O 1 Transition Met* O 13 Transition Met V 1106 Treasury Metal T 395 O 45 Treasury Metal* Trecora Res* N 259 Tres-Or Res V 234 Trevali Mng* O 141 Trevali Mng T 4043 Tri Origin Exp V 182 Trident Gold V 17 Trifecta Gold* O 16 Trifecta Gold V 71 Trigen Res* O 867 Trilogy Mtls T 29 Trilogy Mtls* X 352 O 20 TriMetals Mng* O 8 TriMetals Mng* TriMetals Mng T 74 Trinity Res* O 3 Trinity Valley* O 0 Trinity Valley V 337 Trio Resources* O 2128 TriStar Gold* O 3 TriStar Gold V 420 Triumph Gold V 120 Triumph Gold* O 115 Troilus Gold T 224 Troilus Gold* O 3 V 227 Troubadour Res Troy Res* O 3 350 True Grit Res V True North Gem* O 0 2 True North Gem V Tsodilo Res V 39 20 Tudor Gold * O Tudor Gold V 82 0 Tundra Gold* O Turquoise HIl T 9894 50861 Turquoise HIl* N TVI Pacific* O 385 TVI Pacific V 1354 Tyhee Gold* O 222 Typhoon Expl V 1

0.07 0.05 0.06 - 0.01 0.11 0.04 0.04 0.04 0.04 - 0.01 0.15 0.03 0.00 0.00 0.09 unch 0.00 0.17 0.04 2.20 0.00 2.20 unch 0.00 3.10 1.45 0.10 0.00 0.10 unch 0.00 0.19 0.07 0.08 0.06 0.07 - 0.01 0.14 0.00 0.33 0.31 0.32 - 0.02 0.58 0.29 0.25 0.22 0.24 - 0.00 0.45 0.21 0.08 0.05 0.08 + 0.03 0.08 0.02 0.11 0.00 0.11 unch 0.00 0.13 0.05 0.18 0.00 0.15 - 0.01 0.80 0.14 0.55 0.45 0.45 - 0.03 1.50 0.44 0.40 0.40 0.40 unch 0.00 1.05 0.32 0.71 0.65 0.71 + 0.04 1.20 0.47 3.71 3.21 3.71 + 0.52 5.66 2.71 5.10 4.28 5.05 + 0.73 7.52 3.57 0.04 0.03 0.03 - 0.01 0.06 0.03 0.05 0.05 0.05 unch 0.00 0.15 0.05 0.06 0.05 0.05 - 0.01 0.20 0.05 0.12 0.12 0.12 unch 0.00 0.12 0.10 0.01 0.00 0.01 + 0.00 0.01 0.00 0.21 0.17 0.17 - 0.03 0.25 0.00 9.58 8.80 9.03 - 0.10 13.52 5.74 13.00 11.78 12.19 - 0.10 18.21 7.52 0.29 0.28 0.28 - 0.01 0.48 0.25 0.40 0.38 0.38 - 0.02 0.61 0.32 0.06 0.05 0.06 + 0.01 0.16 0.02 0.02 0.02 0.02 unch 0.00 0.16 0.02 0.01 0.00 0.01 - 0.02 0.10 0.01 0.17 0.11 0.15 + 0.04 0.17 0.07 0.23 0.16 0.22 + 0.04 0.23 0.06 0.26 0.22 0.25 unch 0.00 0.53 0.21 0.19 0.16 0.19 unch 0.00 0.39 0.16 10.02 9.53 9.79 - 0.17 15.60 6.69 0.03 0.02 0.03 + 0.01 0.05 0.02 0.26 0.24 0.25 - 0.02 0.95 0.24 0.35 0.32 0.33 - 0.03 1.22 0.32 0.03 0.03 0.03 + 0.01 0.04 0.01 0.16 0.16 0.16 unch 0.00 0.18 0.14 0.03 0.03 0.03 - 0.00 0.09 0.03 0.05 0.05 0.05 + 0.01 0.13 0.04 0.37 0.29 0.31 - 0.04 1.01 0.19 3.45 3.19 3.40 + 0.06 3.78 1.59 2.66 2.39 2.55 + 0.06 2.82 1.24 0.07 0.06 0.07 unch 0.00 0.23 0.04 0.04 0.03 0.03 - 0.00 0.12 0.02 0.05 0.05 0.05 unch 0.00 0.14 0.03 0.01 0.01 0.01 + 0.00 0.20 0.01 0.00 0.00 0.03 unch 0.00 0.03 0.03 0.09 0.09 0.09 unch 0.00 0.11 0.04 0.00 0.00 0.00 + 0.00 0.01 0.00 0.11 0.00 0.11 unch 0.00 0.18 0.07 0.15 0.15 0.15 + 0.01 0.25 0.09 0.39 0.33 0.35 + 0.02 0.80 0.30 0.30 0.24 0.29 + 0.03 0.60 0.22 0.60 0.53 0.58 + 0.01 1.60 0.40 0.40 0.00 0.40 - 0.04 1.08 0.40 0.12 0.11 0.11 - 0.01 0.25 0.08 0.07 0.07 0.07 unch 0.00 0.13 0.06 0.02 0.02 0.02 + 0.01 0.07 0.02 0.08 0.00 0.08 - 0.05 0.14 0.00 0.11 0.00 0.11 + 0.01 1.00 0.10 0.20 0.00 0.17 - 0.03 0.59 0.18 0.23 0.23 0.23 - 0.00 0.34 0.15 0.33 0.29 0.30 + 0.02 0.45 0.20 11.95 11.95 11.95 unch 0.00 500.00 11.95 1.87 1.65 1.72 - 0.12 3.90 1.65 1.40 1.23 1.28 - 0.10 3.00 1.23 0.01 0.00 0.01 + 0.01 0.02 0.00 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.00 0.00 0.00 + 0.00 0.00 0.00 0.00 0.00 0.04 unch 0.00 0.07 0.03

U.S. Gold* D 935 U.S. Lithium* O 18 U3O8 Corp* O 24 U3O8 Corp T 22 Ubique Mineral 58 UC Res* O 222 288 Ucore Rare Mtl V Ucore Rare Mtl* O 364 UEX Corp T 974 Ultra Lithium* O 6

1.49 1.19 1.33 + 0.14 1.69 0.74 0.32 0.25 0.26 - 0.03 0.96 0.09 0.11 0.10 0.10 - 0.01 0.35 0.10 0.14 0.13 0.13 unch 0.00 0.50 0.13 0.14 0.00 0.08 - 0.08 0.25 0.05 0.28 0.24 0.25 + 0.01 1.27 0.00 0.13 0.12 0.13 + 0.01 0.25 0.09 0.10 0.08 0.10 + 0.01 0.20 0.07 0.18 0.16 0.18 + 0.01 0.29 0.14 0.08 0.06 0.06 - 0.01 0.21 0.05

U-V

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Ultra Lithium V 7 O 215 Umbral Enrgy* Unigold* O 155 V 165 Unigold United Battery 1469 O 228 United Battery* United Res Hdg* O 217 102 United States A* X United States S* N 60375 Unity Metals V 437 Universal Cop V 687 V 537 Universal Vent Ur-Energy T 237 Ur-Energy* X 1602 412 Uragold Bay Rs V X 5548 Uranium Energy* O 2 Uranium Hunter* 363 Uranium Res* D Uravan Mnrls V 931 V 410 UrbanGold Min USCorp* O 142 Val-d’Or Mg* O 0 Val-d’Or Mg V 11 142158 N Vale* Valley High Mg* O 488 ValOre Metals V 282 O 8 ValOre Metals* Valterra Res V 217 Valterra Res* O 100 O 15 Vanadian Enrgy* V 81 Vanadian Enrgy V 164 Vanadium One O 112 Vanadiumcorp* V 465 Vanadiumcorp Vangold Res* O 0 9 Vanstar Mng Rs* O Vanstar Mng Rs V 1133 Vantex Res V 34 Vela Minerals V 6 O 44 Velocity Mnrls* Velocity Mnrls V 1025 Vendetta Mng V 289 O 180 Vendetta Mng* V 25 Venerable Vent O 86 Venture Mnrls* Verde Potash T 46 Verde Res* O 3 Veris Gold* O 832 Vertical Expl V 820 Victoria Gold V 1558 O 34 Victory Metals* V 113 Victory Metals O 37 Victory Nickel* Victory Nickel 45 Victory Res 0 Victory Res* O 1 Virginia Enrgy V 77 O 79 Virginia Enrgy* Viscount Mng V 332 10 Visible Gold M V 0 Visible Gold M* O Vision Lithium V 133 O 0 Vision Lithium* Vista Gold* X 245 Vista Gold T 28 Viva Gold* O 41 Viva Gold V 65 Vizsla Res V 132 Volcanic Gold V 0 Volt Energy* O 5 Volt Energy V 98 O 116 Voyageur Min* Voyageur Min V 32 O 11 VR Resources* VR Resources V 105 Vulcan Mnrls V 19 VVC Expl V 105

0.08 0.09 0.00 0.09 - 0.01 0.28 0.11 0.38 0.33 0.35 - 0.01 0.54 0.07 0.12 0.10 0.12 + 0.02 0.15 0.09 0.17 0.12 0.17 + 0.05 0.23 0.03 unch 0.00 1.68 0.04 0.03 0.04 0.02 0.03 0.02 0.03 + 0.00 1.58 0.05 0.04 0.05 unch 0.00 0.07 0.01 0.54 0.50 0.54 + 0.04 1.05 0.25 15.22 14.41 14.59 - 1.07 39.23 14.16 0.10 0.90 0.63 0.82 + 0.12 1.40 0.06 0.10 0.08 0.10 - 0.01 0.26 0.28 unch 0.00 0.63 0.40 0.36 0.39 0.74 1.13 1.03 1.12 + 0.01 1.30 0.54 0.85 0.80 0.83 - 0.01 0.99 0.10 0.09 0.10 + 0.01 0.12 0.06 1.12 1.42 1.35 1.40 + 0.02 1.89 0.26 2.00 0.00 1.25 - 0.25 1.99 5.25 3.50 4.50 - 0.25 29.95 3.50 0.02 0.03 0.02 0.02 - 0.01 0.05 0.10 unch 0.00 0.16 0.11 0.10 0.11 0.00 0.00 0.00 0.00 - 0.00 0.02 0.06 unch 0.00 0.09 0.06 0.06 0.06 0.08 0.09 0.00 0.09 + 0.02 0.14 10.89 12.21 11.36 11.59 - 0.88 16.13 0.01 0.00 0.01 unch 0.00 0.01 0.00 0.11 0.21 0.00 0.18 - 0.04 0.90 0.00 0.17 0.14 0.14 - 0.03 0.48 0.02 unch 0.00 0.04 0.02 0.02 0.02 0.01 unch 0.00 0.03 0.02 0.02 0.02 0.01 0.04 0.00 0.03 - 0.01 0.13 0.04 0.06 0.00 0.04 - 0.01 0.18 0.06 0.12 0.11 0.11 - 0.01 0.29 0.01 0.06 0.05 0.05 + 0.00 0.15 0.06 0.07 0.07 0.07 + 0.01 0.14 0.01 unch 0.00 0.06 0.00 0.00 0.02 0.19 0.00 0.19 - 0.00 0.19 0.07 0.26 0.23 0.24 + 0.01 0.36 0.08 0.14 unch 0.00 0.40 0.25 0.25 0.25 0.14 0.15 0.14 0.15 + 0.01 0.27 0.09 0.23 0.18 0.23 + 0.05 0.24 0.13 0.32 0.24 0.32 + 0.07 0.37 0.10 unch 0.00 0.26 0.11 0.10 0.10 0.07 0.08 0.07 0.08 - 0.00 0.20 0.07 unch 0.00 0.13 0.10 0.07 0.07 0.01 0.02 0.02 0.02 - 0.01 0.02 0.53 0.73 0.68 0.68 - 0.05 1.25 0.00 0.04 0.04 0.04 + 0.00 0.10 0.00 unch 0.00 0.01 0.00 0.00 0.00 0.05 0.07 0.06 0.07 + 0.01 0.15 0.30 0.46 0.42 0.43 - 0.03 0.55 0.45 0.52 0.50 0.52 - 0.01 0.57 0.38 0.69 0.67 0.69 - 0.01 0.77 0.01 0.02 0.01 0.01 - 0.01 0.04 0.01 unch 0.00 0.07 0.02 0.02 0.02 0.02 0.00 0.20 unch 0.18 0.00 0.00 0.08 unch 0.00 0.23 0.09 0.09 0.09 0.12 0.24 0.00 0.23 + 0.05 0.36 0.08 0.18 0.14 0.17 + 0.04 0.28 0.15 0.20 0.18 0.19 - 0.02 0.33 0.10 0.00 0.10 + 0.01 0.11 0.04 0.00 0.00 0.06 unch 0.00 0.07 0.03 0.07 0.09 0.07 0.08 + 0.01 0.45 0.06 unch 0.00 0.35 0.07 0.07 0.07 0.37 0.61 0.56 0.56 + 0.00 0.92 0.56 0.81 0.76 0.77 - 0.04 1.24 0.21 0.25 0.22 0.22 - 0.03 0.40 0.25 0.33 0.31 0.31 - 0.01 0.48 0.13 0.20 0.14 0.15 - 0.02 0.20 0.14 unch 0.00 1.26 0.00 0.00 0.36 0.04 unch 0.00 0.20 0.05 0.05 0.05 0.03 0.07 0.06 0.06 - 0.01 0.25 0.04 unch 0.00 0.10 0.00 0.00 0.08 0.05 unch 0.00 0.12 0.08 0.08 0.08 0.10 0.10 0.09 0.09 - 0.01 0.35 0.12 unch 0.00 0.43 0.14 0.12 0.13 0.03 0.04 0.00 0.04 - 0.01 0.07 0.02 0.03 0.03 0.03 + 0.01 0.05

Walker Lane* O 10 Walker River* O 169 Walker River V 2358 T 4487 Wallbridge Mng

0.05 0.30 0.00 0.30 - 0.01 0.40 0.08 0.14 0.12 0.14 + 0.03 0.19 0.05 0.19 0.15 0.18 + 0.03 0.27 0.06 0.46 0.38 0.39 - 0.02 0.47

W-Z

(100s) Stock

Week

23

12-month

Exc Volume High Low Last Change High Low

Warrior Gold* O 98 Warrior Gold V 452 Waseco Res V 35 Wealth Mnrls V 253 Wealth Mnrls* O 492 Wescan Gldflds* O 0 V 8 Wescan Gldflds O 777 Wesdome Gold* Wesdome Gold T 2460 35 West High Yld V West Kirkland * O 20 West Kirkland V 225 West Red Lake* O 58 West Red Lake 62 O 10 Western Areas* T 115 Western Copper Western Copper* X 369 Western Mag V 3672 Western Mag* O 2483 0 Western Pac Rs* O Western Pac Rs V 0 T 594 Western Potash Western Res* O 1 Western U&V 200 Western U&V* O 289 Westhaven Vent* O 102 V 432 Westhaven Vent Westkam Gold* O 726 V 9115 Westkam Gold Westminster Rs V 105 O 552 Westmoreland* WestMountain* O 0 Wheaton Prec M T 4191 Wheaton Prec M* N 9973 O 5 White Energy* White Gold* O 31 White Gold V 62 White Metal R* O 6 White Metal Rs V 2283 White Mtn Engy* O 1825 Whitehaven Coa* O 8 Whitemud Res V 5 Wildsky Res* O 3 Wildsky Res V 6 O 373 Winston Gold* Winston Gold 119 Winston Res 0 0 Winston Res* O Wolfden Res* O 163 Wolfden Res V 379 Wolfeye Res V 263 V 1 Worldwide Res X-Terra Res V 154 X-Terra Res* O 1 Xanadu Mines T 30 Xemplar Egy* O 2 Xiana Mng V 76 Xiana Mng* O 13 Ximen Mining* O 15 Ximen Mining V 924 Xtierra Inc V 279 O 57 Xtra-Gold Res* Xtra-Gold Res T 95 Yamana Gold T 7493 Yamana Gold* N 35503 O 224 Yanzhou Coal* Yorbeau Res T 76 1 You Han Data* O Zadar Ventures V 0 Zanzibar Gold 224 Zara Res* O 1458 O 30 ZEN Graphene* ZEN Graphene V 415 Zena Mining V 250 Zenith Explor 13 Zephyr Mnls V 123 Zephyr Mnls* O 36 Zimtu Capital V 180 Zinc One Res V 1640 Zinc One Res * O 153 Zincore Mtls* O 1 ZincX Res* O 49 ZincX Res V 289 Zonte Metals* O 18 Zonte Metals V 395

0.07 0.07 0.07 - 0.00 0.11 0.03 0.11 0.09 0.10 - 0.01 0.16 0.04 0.05 0.04 0.04 - 0.01 0.05 0.02 0.40 0.00 0.39 - 0.01 1.36 0.34 0.30 0.25 0.29 - 0.01 1.10 0.25 0.03 0.03 0.03 unch 0.00 0.04 0.02 0.04 0.00 0.04 unch 0.00 0.11 0.01 3.68 3.20 3.41 + 0.09 4.25 1.49 4.85 4.47 4.60 + 0.13 5.46 1.90 0.30 0.28 0.28 - 0.01 0.60 0.20 0.04 0.04 0.04 unch 0.00 0.07 0.03 0.05 0.05 0.05 unch 0.00 0.09 0.04 0.07 0.05 0.06 - 0.00 0.09 0.03 0.10 0.00 0.09 - 0.01 0.12 0.05 1.53 0.00 1.53 + 0.02 2.75 1.27 0.69 0.62 0.67 - 0.01 1.30 0.52 0.52 0.45 0.49 - 0.01 1.01 0.35 0.32 0.06 0.14 + 0.08 0.32 0.03 0.23 0.05 0.11 + 0.06 0.43 0.02 0.00 0.00 0.35 unch 0.00 0.62 0.01 0.00 0.00 0.42 unch 0.00 1.08 0.32 0.13 0.12 0.12 - 0.01 0.41 0.11 0.08 0.08 0.08 + 0.00 0.30 0.08 1.12 0.93 1.10 - 0.02 3.32 0.52 0.90 0.70 0.82 - 0.01 2.70 0.70 0.50 0.44 0.45 + 0.01 1.03 0.10 0.71 0.60 0.65 + 0.05 1.43 0.13 0.00 0.00 0.00 + 0.00 0.02 0.00 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.04 0.04 0.04 unch 0.00 0.15 0.03 0.02 0.01 0.01 - 0.00 0.33 0.01 0.00 0.00 3.00 unch 0.00 3.30 3.00 27.89 26.65 27.04 + 0.01 33.85 19.87 20.65 19.75 20.07 - 0.06 25.24 15.08 0.26 0.26 0.26 unch 0.00 0.31 0.19 0.84 0.81 0.81 + 0.00 1.44 0.46 1.15 1.09 1.09 - 0.01 2.00 0.54 0.02 0.02 0.02 unch 0.00 0.19 0.02 0.06 0.05 0.05 + 0.01 0.25 0.04 0.01 0.00 0.01 - 0.00 0.02 0.00 2.91 2.84 2.91 + 0.03 4.37 2.71 0.01 0.00 0.01 unch 0.00 0.03 0.01 0.10 0.00 0.10 - 0.01 0.77 0.05 0.13 0.00 0.13 + 0.05 1.01 0.06 0.04 0.03 0.04 + 0.01 0.09 0.02 0.06 0.04 0.05 + 0.01 0.09 0.03 0.00 0.00 0.02 unch 0.00 0.24 0.02 0.00 0.00 0.55 unch 0.00 0.11 0.11 0.11 - 0.00 0.33 0.10 0.16 0.15 0.15 - 0.01 0.43 0.14 0.74 0.66 0.70 - 0.05 1.31 0.50 0.03 0.00 0.03 unch 0.00 0.07 0.02 0.10 0.10 0.10 unch 0.00 0.18 0.09 0.08 0.08 0.08 unch 0.00 0.12 0.07 0.09 0.08 0.08 - 0.01 0.17 0.08 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.60 0.31 0.60 + 0.12 0.70 0.31 0.36 0.23 0.36 - 0.09 0.46 0.23 0.36 0.33 0.36 - 0.00 10.27 0.10 0.52 0.43 0.48 + 0.01 0.86 0.14 0.06 0.05 0.06 - 0.01 0.08 0.03 0.39 0.24 0.25 - 0.00 0.45 0.11 0.35 0.32 0.33 - 0.02 0.47 0.23 2.83 2.69 2.71 unch 0.00 4.20 2.66 2.11 2.00 2.01 - 0.01 3.23 2.00 0.00 0.00 1.08 unch 0.00 1.40 1.08 0.03 0.03 0.03 - 0.01 0.05 0.02 2.00 0.00 1.75 - 1.25 4.06 0.75 0.00 0.00 0.12 unch 0.00 0.65 0.08 0.22 0.17 0.17 - 0.03 0.32 0.10 0.50 0.32 0.36 - 0.10 0.63 0.04 0.30 0.26 0.27 - 0.02 0.48 0.26 0.39 0.36 0.37 - 0.03 0.64 0.34 0.05 0.05 0.05 unch 0.00 0.09 0.05 0.06 0.06 0.06 unch 0.00 0.10 0.04 0.28 0.26 0.28 + 0.02 0.29 0.15 0.22 0.21 0.21 unch 0.00 0.22 0.11 0.25 0.22 0.25 + 0.02 0.40 0.20 0.06 0.05 0.05 - 0.01 0.27 0.05 0.05 0.00 0.03 - 0.01 0.20 0.03 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.15 0.13 0.13 - 0.01 0.56 0.14 0.20 0.18 0.18 - 0.02 0.75 0.18 0.23 0.21 0.21 - 0.02 0.30 0.12 0.31 0.27 0.28 - 0.01 0.41 0.17

BID-ASK — MAY 13–17, 2019

STOCK

12-MONTH

EXC BID ASK LAST HIGH

37 Capital C 66 Resources C AEX Gold V African Metals V Alba Minerals V Alchemist Mng C Alexandra Cap C Allante Res V Alliance Mng V ALQ Gold C Altan Rio Min V V Alturas Min American CuMo V American Uran V Anglo-Bomarc V Angus Ventures V Antler Hill V Archon Mineral V Arcturus Vent V Arrowstar Res V Asbestos Corp V Astorius Res V Atlanta Gold V Atlantic Indus V Aurelius Min V Aurex Energy V Banro Corp* X Barker Min V Bethpage Cap V BHK Mining V Black Bull Res V Black Mammoth V Bond Resources C Boss Power V Brunswick Res V Bullion Gold V Camrova Res V Canada Coal V Canada One V Canadian Silv V Canex Energy V Caracara Silvr V Cassius Vents V Castle Peak Mg V CAT Strategic C Central Iron V Cerro de Pasc C Cerro de Pasc C Chantrell Vent V Chinapintza Mg V Cicada Vents V CIM Intl Grp C Clarmin Explor V Clean Comm V Cliffmont Res V Cliffs Nat Res* N Clydesdale Res V Comet Inds V Contintl Prec V Copper One V Copper Reef Mg C CWN M’g Acq V Cyntar Venture C Cyprium Mng V Damara Gold V Dios Expl V EastCoal Inc V Eastern Zinc C Edgewater Expl V Electra Stone V ePower Metals V European Metal C Eurotin V Evolving Gold C Excalibur Res C Fabled Copper V Fieldex Expl V Finore Mng C Fire River Gol V Firebird Res V First Idaho V First Mexican V

20-23_MAY27_StockTables.indd 23

0.10 0.13 0.10 0.30 0.09 0.19 0.10 0.27 0.34 0.36 0.36 0.53 0.06 0.09 0.06 0.15 0.16 0.16 0.28 0.08 0.08 0.06 0.12 ... ...

0.50 0.93 0.16 0.25 0.16 0.20 0.01 0.02 0.01 0.04 1.99 1.99 1.72 4.04 ...

0.01 0.01 0.02 0.01 0.01 0.01 0.03 0.06 0.07 0.06 0.13 0.06 0.25 0.06 0.08 0.08 0.08 0.15 0.16 0.17 0.29 0.29 0.50 0.15 0.15 0.10 0.20 0.60 0.78 0.60 1.09 0.09 0.15 0.08 0.16 0.01 0.24 0.12 0.12 0.35 0.83 0.55 0.80 0.02 0.03 0.03 0.07 0.03 0.04 0.03 0.06 0.01 0.02 0.01 0.05 0.13 0.14 0.14 0.15 0.20 0.26 0.20 1.30 0.11 0.11 0.11 2.10 0.01 0.01 0.01 0.02 0.01 ...

0.07 0.07 0.02 0.02 0.02 0.10 0.18 0.10 0.06 0.09 0.06 0.12 0.17 ...

0.20 0.20 0.17 0.20 0.17 0.03 0.03 0.03 0.05 0.06 0.15 0.10 0.47 0.01 0.01 0.07 0.11 0.02 0.03 0.02 0.11 0.03 0.04 0.03 0.12 0.01 0.01 0.06 0.07 0.01 ...

0.17 0.25 0.22 0.22 0.11 0.18 0.06 0.14 0.06 0.08 0.02 0.02 0.02 0.03 0.04 0.06 0.04 0.15 0.02 0.02 0.02 0.05 0.32 0.32 0.32 0.37 ... ...

0.29 0.34 0.01 0.10 0.06 0.12 0.01 0.01 0.01 0.02 0.01 0.01 0.01 0.02 0.19 0.30 0.19 0.63 0.12 0.15 0.12 0.20 0.03 0.03 0.03 0.07 0.08 0.15 0.13 0.90 1.45 3.20 1.43 7.17 0.03 0.15 0.04 0.08 1.50 3.15 3.25 3.60 0.35 0.38 0.36 0.46 0.13 0.15 0.15 0.18 0.02 0.02 0.02 0.03 0.04 0.07 0.05 0.18 0.08 0.17 0.10 0.15 0.03 0.03 0.03 0.04 0.05 0.05 0.07 0.05 0.06 0.06 0.09 0.06 0.15 0.05 0.30 0.08 0.13 0.10 0.56 0.10 0.15 0.10 0.17 0.01 0.02 0.01 0.02 0.19 0.19 0.15 0.31 ... 0.01 0.01 0.01 0.03 0.01 0.13 0.08 0.08 0.08 0.15 0.09 0.10 0.10 0.11 0.06 0.33 0.08 0.09 ... 0.19 0.19 0.12 0.12 0.11 0.03 0.07 0.09 0.02 0.03 0.02 0.05 0.06 0.25 0.03 0.03 0.01 0.01 0.01 0.06

LOW

0.09 0.06 0.24 0.04 0.04 0.25 0.10 0.01 1.26 0.01 0.01 0.05 0.06 0.06 0.15 0.07 0.60 0.07 0.08 0.33 0.02 0.03 0.01 0.03 0.20 0.10 0.01 0.07 0.05 0.20 0.02 0.09 0.06 0.02 0.03 0.04 0.11 0.08 0.03 0.01 0.04 0.02 0.22 0.12 0.04 0.01 0.01 0.19 0.10 0.03 0.11 0.98 0.02 2.60 0.30 0.10 0.02 0.03 0.08 0.04 0.05 0.05 0.09 0.10 0.01 0.15 0.01 0.07 0.01 0.04

0.02 0.03 0.01

STOCK

Five Star Diam Four Nines Full Metal Mnl Fusion Gold Gem Intl Res Generic Gold Gespeg Cop Res GFM Res Glacier Lake Global Cop Grp Global Vanad Goldbelt Emp Golden Cariboo Golden Share Golden Tag Great Lakes Gr Great Quest Fe Green Arrow Green River Green Valley M Greenshield Ex Grenville Gold Grosvenor Res Guerrero Vents HFX Holding Highvista Gold IEMR Res Indigo Expl Infinite Lith Inform Res Inspiration Mg Interconnect Intl Battery Intl Bethl Mng Intl Corona Intl Millm Mng Iron South Mng Jasper Mining Jazz Res Jubilee Gold K2 Gold Kal Minerals Kenna Res Kings Bay Res Knick Expl La Imperial Leo Res Lithion Energy Lithium Energy Logan Res Lovitt Res Lund Enterpr Madeira Mrnls MAG Silver* Magna Gold Magnitude Mng Manado Gold Mega Copper Mesa Expl Metalore Res Metron Capital Micrex Dev Midasco Cap MillenMin Vent Millstream Min Milner Con Slv Minecorp Egy Mineral Hill MK2 Ventures Montana Gold Montego Res Mountain Lake MX Gold Nebu Res New Jersey Mng New Klondike New Stratus New World Res Newlox Gold Newmac Res Nexco Res Nrthn Lion

12-MONTH

EXC BID ASK LAST HIGH LOW

V C V V V C V V V V V V V V V V V V C V V C V V V V V V V V C V C V V V V V V V V C V V V C C V V V V V V X V V V V V V V V V V V V V V V C C C V V C V V V C V C V

0.06 0.08 0.07 0.17 0.15 0.25 0.20 0.60 0.01 2.82 0.10 0.14 0.24 0.30 0.30 0.01 0.02 0.02 ... 0.13 0.06 0.30 0.02 0.03 0.02 0.05 0.04 0.09 0.05 0.15 0.08 0.12 0.07 0.65 0.07 0.08 0.08 0.11 0.17 0.24 0.24 0.28 0.01 0.01 0.02 0.05 0.06 0.05 0.08 0.09 0.09 0.09 0.23 0.04 0.04 0.04 0.08 0.05 0.05 0.04 0.06 0.08 0.08 0.10 0.14 0.02 0.04 0.03 0.04 0.05 0.06 0.05 0.07 0.05 0.25 0.13 2.00 0.10 0.25 0.09 0.15 0.23 0.29 0.23 0.70 0.09 0.30 0.09 0.20 0.03 0.12 0.08 0.15 0.06 0.08 0.06 0.07 ... ...

0.17 0.02 0.02 0.02 0.04 0.02 0.02 0.02 0.03 0.26 0.29 0.28 0.32 0.04 0.07 0.03 0.19 0.04 0.04 0.03 0.06 0.07 0.10 0.07 0.11 ... ...

0.31 0.04 0.05 0.04 0.08 0.03 0.03 0.04 0.05 0.02 0.03 0.03 0.03 0.24 0.27 0.24 0.28 0.08 0.10 0.09 0.29 0.05 0.06 0.05 0.08 ... 0.70 0.64 0.67 0.18 0.24 0.17 0.33 0.11 0.25 0.25 0.25 0.13 0.16 0.15 0.04 0.04 0.04 0.08 0.01 0.01 0.01 0.02 0.04 0.08 0.04 0.08 ... ...

1.09 ... ...

0.10 0.08 0.08 0.10 0.44 0.02 0.02 0.06 0.08 0.13 0.10 0.25 0.01 0.18 0.13 0.25 0.02 0.15 0.03 0.04 12.52 13.30 12.52 14.40 ... ...

0.40 0.45 0.14 0.19 0.16 0.30 0.03 0.05 0.05 0.06 0.16 0.22 0.16 0.18 0.02 0.06 0.06 0.08 1.00 1.44 0.97 2.85 0.05 0.10 0.06 0.07 0.02 0.02 0.01 0.19 0.19 0.09 0.15 0.01 0.50 0.05 0.04 0.06 0.04 0.05 0.10 0.08 0.11 ... ...

0.12 0.20 0.01 0.30 0.15 0.27 0.01 0.30 0.16 0.39 0.09 0.10 0.10 0.10 0.04 0.04 0.05 0.31 ... ...

0.05 0.05 0.11 0.11 0.11 0.04 0.04 0.04 ...

0.22 0.15 0.26 0.01 0.01 0.01 0.26 0.40 0.40 0.40 0.22 0.26 0.21 0.30 0.03 0.04 0.03 0.06 0.05 0.12 0.09 0.10 0.07 ...

0.07 0.28 0.23 0.37 0.23 0.46

0.05 0.10 0.11 0.03 0.02 0.04 0.07 0.04 0.16 0.03 0.07 0.04 0.02 0.06 0.02 0.04 0.13 0.05 0.12 0.09 0.06 0.05 0.01 0.01 0.12 0.03 0.02 0.04 0.03 0.03 0.02 0.04 0.08 0.03 0.40 0.16 0.12 0.03 0.01 0.04 0.09 0.04 0.11 0.02 6.12 0.20 0.14 0.04 0.16 0.06 0.97 0.05 0.08 0.03 0.07 0.09 0.15 0.02 0.03 0.04 0.15 0.25 0.13 0.03 0.06 0.06 0.15

STOCK

Odyssey Res Oriental Non F Origin Gold Pac Arc Res Pac Cascade Pac Iron Ore Pacific Silk Pan Andean Min Patriot Gold Pele Mtn Res Phoenix Gold Plate Res Primary Energy Prime Meridian Prism Res ProAm Expl Quadro Res Quantum Cobalt Quinto Res Rare Element* Razore Rock Res Red Oak Mg Regency Gold Reliant Gold Remington Res Resolve Vent Resource Cap Riley Resource Rio Silver Rockland Mnls Rockwealth Res Rojo Res Rokmaster Res Rosita Mg Corp Ross River Rover Metals Rubicon Mnrls* Sage Gold Sennen Potash Shine Minerals Sierra Madre D Silver Mtn Mns Silver Phoenix SouthGobi Res Spey Resources Surge Explor Sutter Gold Talmora Diamd Tanzania Mnls Taranis Res Tearlach Res Thunder Mtn Gd Tocvan Venture TomaGold Tri-River Vent Troy Enrgy Trueclaim Expl Typhoon Expl Upper Canyon Vale* ValOre Metals Vanadium One Vangold Res Vantex Res Vatic Vent Venerable Vent Victory Res Volcanic Gold Voltaic Min Westcot Vent Western Atlas Western Pac Rs Western Troy C Westminster Rs Xander Res Zadar Ventures Zara Res Zena Mining Zenith Explor Zinco Mng Zincore Mtls

12-MONTH

EXC BID ASK LAST HIGH LOW

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

0.03 0.04 0.03 0.06 ... ...

0.80 1.05 0.09 0.10 0.09 0.15 0.23 0.49 0.23 0.45 0.01 0.02 0.01 0.07 0.09 0.10 0.11 0.02 0.03 0.02 0.05 0.07 0.09 0.09 0.13 0.06 0.12 0.10 0.10 0.01 0.01 0.04 0.05 0.07 0.07 0.05 0.07 0.04 0.05 0.04 0.08 0.11 0.12 0.12 1.20 0.01 0.50 0.14 0.03 0.04 0.04 0.07 0.02 0.03 0.03 0.04 0.03 0.04 0.03 0.08 ... ...

1.10 3.15 0.05 0.06 0.05 0.10 0.11 0.16 0.15 0.89 0.08 0.35 0.09 0.27 0.05 1.30 0.33 0.34 0.13 0.25 0.20 0.24 ... 0.01 0.02 0.02 0.19 0.24 0.19 0.30 0.08 0.09 0.08 0.14 ... ...

0.01 0.07 0.20 0.29 0.20 0.41 0.04 0.05 0.04 0.06 0.07 0.08 0.08 0.11 0.12 0.18 0.13 0.20 ... 0.39 0.19 0.30 0.03 0.04 0.03 0.13 0.03 0.04 0.04 0.08 ...

0.14 0.26 0.26 0.06 0.06 0.07 0.11 ... ...

0.03 1.35 0.01 0.01 0.02 0.07 0.23 1.00 0.45 0.50 0.09 ...

0.14 0.16 0.06 0.21 0.06 0.15 0.01 0.02 0.02 0.03 0.17 0.25 0.15 0.22 0.08 ...

0.14 0.17 0.06 0.07 0.08 0.16 0.39 0.44 0.39 0.23 0.01 0.01 0.01 0.02 0.04 0.05 0.05 0.06 0.07 0.32 0.16 0.26 0.07 0.08 0.08 0.12 0.20 0.23 0.20 0.28 ... ...

0.17 0.20 0.10 0.11 0.12 0.12 0.05 0.05 0.05 0.08 ... ...

0.04 0.03 0.07 0.03 0.07 0.09 0.10 0.10 0.28 0.04 0.04 0.04 0.07 0.75 0.75 0.25 0.40 ... ...

10.24 11.10 0.06 0.07 0.07 0.13 0.13 0.15 0.13 0.05 0.05 0.04 0.14 0.25 0.27 0.25 0.40 0.10 0.19 0.10 0.23 0.06 0.20 0.07 0.13 0.15 0.19 0.18 0.20 0.32 0.40 0.36 1.26 0.21 0.21 0.28 0.37 ... ...

0.35 0.35 0.06 0.08 0.06 0.20 0.30 0.40 0.42 1.08 0.08 0.08 0.10 0.13 0.04 0.05 0.04 0.15 0.23 0.24 0.09 0.16 0.11 0.15 0.12 0.65 ... ...

0.07 0.22 0.05 0.07 0.05 0.09 0.01 ...

0.06 0.10 0.05 0.07 0.05 0.03 0.40 0.05 0.09

0.02 0.80 0.07 0.20 0.06 0.02 0.03 0.10 0.04 0.04 0.03 0.08 0.03 0.02 0.03 0.20 0.02 0.06 0.06 0.19 0.14 0.02 0.17 0.07 0.01 0.10 0.03 0.01 0.11 0.10 0.03 0.03 0.10 0.03 0.03 0.01 0.45 0.08 0.06 0.01 0.03 0.10 0.04 0.03 0.01 0.01 0.12 0.05 0.03 0.14 0.10 0.04 0.01 0.07 0.03 0.17 6.57 0.07 0.03 0.14 0.06 0.07 0.02 0.14 0.13 0.23 0.05 0.32 0.03 0.03 0.03 0.08 0.07 0.05 0.04 0.03

2019-05-21 10:59 AM

24_MAY27_BackCover.indd 24

2019-05-17 3:47 PM