The Northern Miner November 21 2016 Issue

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Rob McEwen happy with Donald Trump win INTERVIEW

| Mining entrepreneur says victory shows there’s “real desire for change”

Atalaya revives iconic Rio Tinto mine in Spain COPPER |

Proyecto Riotinto to produce 42,000 tonnes copper per year in concentrate

BY TRISH SAYWELL

R

tsaywell@northernminer.com

ob McEwen, chairman and chief owner of McEwen Mining (TSX: MU X; N YSE: MUX), shared his thoughts with The Northern Miner about the election of Donald J. Trump as the fortyfifth president of the United States.

McEwen Mining’s principal assets consist of the El Gallo 1 mine and El Gallo 2 development project in Sinaloa, Mexico; the Gold Bar project in Nevada, U.S.; the San Jose mine in Santa Cruz, Argentina (49% interest); and the Los Azules copper project in San Juan, Argentina. McEwen owns 25% of the company’s shares.

The Northern Miner: Where were you on election night? Were you watching the results on television?

What were your immediate thoughts when you realized Donald Trump would be the next president of the United States?

Rob McEwen: I watched all of it and enjoyed the suspense. I like the outcome.

It became so apparent that there is a big disconnect in America and maybe it’s true all around the world, that the politicians, the pollsters and the media are of one mind, and most of the country is of a totally different mind.

Whether it’s Washington, Ottawa or London, or any of the major capital cities, their mandarins and residents are far removed from the drama and the trauma that’s going on all across their countries, and they don’t have a sense of the disappointment, the anger, the frustration and burning desire for change, to throw out the old order. I share the same opinion.

TNM: Many were surprised by the See MCEWEN / 2

Processing facilities at Atalaya Mining’s Proyecto Riotinto copper mine in Spain’s Andalucia region, 65 km northwest of Seville. ATALAYA MINING

BY TRISH SAYWELL tsaywell@northernminer.com

A

talaya Mining’s (TSX: AY M ; L S E : AT Y M ) Proyecto Riotinto copper mine in the Andalucia region of Spain is on the verge of producing 90 million lb. copper (42,000 tonnes copper) in concentrate next year — or 200,000 tonnes copper concentrate — for some of the world’s biggest off-takers, but the company is relatively unknown in North America.

The European junior — formerly known as EMED Mining — put the open-pit mine and mill, 65 km northwest of Seville,

back into production in February 2016. (Previous owners put the mine on care and maintenance in 2001, when copper prices were languishing at US$1 per pound.)

Atalaya Mining has been ramping up the processing rate to 9.5 million tonnes per year, and expects to reach this capacity before the start of 2017. The mill operates at a 95% throughput rate, and the mine runs at 100%.

“It has been quite a success,” Alberto Lavandeira, the company’s president and CEO, says in a telephone interview from Spain. “We completed the whole ramp-up in less than two years when the previous management team thought it would be done in three years, and we did it at half

the capital cost, or US$150 million, down from previous estimates of US$300 million.”

The new management team, which took over the company two and a half years ago, has deep mine building expertise as well as knowledge of how to get permits for projects in Spain.

Much of the team came from Rio Narcea Gold Mines, where Lavandeira worked as chief operating officer and later as president and CEO. During Lavandeira’s 12 years at the company (1995–2007), Rio Narcea built the El Valle and Carles copper-gold-silver mines in northern Spain, both of which are now owned by Orvana Minerals

PM40069240

See ATALAYA / 2

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McEwen on Trump MCEWEN From 1

Open-pit operations at Atalaya Mining’s Proyecto Riotinto in southern Spain. ATALAYA MINING

Atalaya in Spain ATALAYA From 1

(TSX: ORV), and the Aguablanca nickel-copper mine in southern Spain, now owned by Lundin Mining (TSX: LUN; US-OTC: LUMI). The company also built the Tasiast gold mine in Mauritania, now owned by Kinross Gold (TSX: K; NYSE: KGC).

Lavandeira and several of his colleagues at Atalaya Mining were also involved in building the Mutanda copper-cobalt mine in the DRC, owned by Glencore.

One of the factors behind Atalaya’s success was the support it had from four shareholders: Trafigura (22%), Yanggu Xiangguang Copper (21.9%), Orion Mine Finance (14.6%) and Liberty Metals & Mining (14%).

“We built the whole thing with equity with the support of our four big shareholders,” Lavandeira says.

“It was difficult to get debt in the market at the time, but we were able to finance it all with equity, along with some help from suppliers with whom we got very good payment terms, so we don’t have any long-term debt.”

The off-takers have committed to taking 100% of Atalaya’s copper concentrate produced during the mine’s first 15 years of production.

XGC will take 49.1% of life-of-mine reserves, with Orion Mine Finance taking 31.5% and Trafigura taking 19.3%.

Lavandeira says Atalaya cut costs and completed the project ahead of time, due to “lateral thinking” and a “change of approach.”

For the most part, no new general engineering was done, and old drawings were used. “This thing was running 15 years ago, it had been engineered by Rio Tinto, why do we have to re-engineer it?”

Lavandeira says.

Management decided not to give all the work to a single engineering, procurement and construction management house, but to several specialist firms from countries like South Africa and Australia instead, as well as to a number of local houses that were familiar with heavy industry and maintenance from a range of industries.

“WE COMPLETED THE WHOLE RAMPUP IN LESS THAN TWO YEARS WHEN THE PREVIOUS MANAGEMENT TEAM THOUGHT IT WOULD BE DONE IN THREE YEARS, AND WE DID IT AT HALF THE CAPITAL COST, OR US$150 MILLION, DOWN FROM PREVIOUS ESTIMATES OF US$300 MILLION.” ALBERTO LAVANDEIRA PRESIDENT AND CEO, ATALAYA MINING

Another recurring theme was repairing equipment whenever possible and bringing in specialists to fix it, rather than sending it off-site to be repaired. “Whatever was still OK, we used,” Lavandeira says. “And if it was too old or in bad shape, we changed it.”

Rather than building new tanks in the acid water treatment plant, for example, the company repaired and conditioned the existing tanks, and built a smaller water-treatment plant. The original refurbishment plan by the company’s predecessors involved building a bigger treatment plant, and dewatering the flooded Cerro Colorado pit before the start of production, then discharging the treated water into the river.

The new plan consisted of mining a section of the pit that was above the water level first, even if it wasn’t the easiest or best ore for early production. This way, while pumping acid water (well after production started), the water could be used in the flotation plant and recycled after it was treated with lime, avoiding discharging it into the river.

“The advantage of that was double,” Lavandeira says. “A smaller water-treatment plant was built with old equipment, and the clean water produced was used in the processing.”

On the financing front, Atalaya used insurance mechanisms rather than posting cash in escrow accounts as bonds. It also saved on exchange rates by using local suppliers.

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massive sulphide-type deposit, was originally mined as early as 1873 by the company that would become Rio Tinto (NYSE: RIO; LSE: RIO). Other owners over time have included Freeport-McMoRan (NYSE: FCX).

Today, Proyecto RioTinto consists of the main Cerro Colorado deposit — which contains three zones — and Atalaya, the original pit mined by Rio Tinto, 400 metres west of Cerro Colorado.

The Cerro Colorado pit is 2 km long by 700 metres wide, and the Atalaya pit is 1 km long by 700 metres wide (and 400 metres deep).

Lavandeira and his team say the area offers a lot of exploration upside, too.

There has been only limited exploration to date on lateral extensions to Cerro Colorado because the focus was on confirming open-pit potential. But the company is planning more near-mine exploration — with an emphasis on closer drill spacing and testing extensions of mineral targets. The company will also undertake grassroots exploration of anomalies on its exploration licences.

“In the last two years we concentrated on Cerro Colorado to expand reserves, but we’re going to be drilling deeper zones there to look for the continuation of high-grade zones, and we will also drill a little bit under the Atalaya pit,” he says. “But we also have other places around Spain where we have done work, although we like to keep those confidential at the moment.”

The company has confirmed enough resources to sustain a mine life of 16.5 years. Proyecto Riotinto’s measured and indicated resources, at a 0.2% copper cut-off grade, stand at 193 million tonnes grading 0.4% copper for 830,000 contained tonnes copper. Inferred resources add 23 million tonnes averaging 0.5% copper for 110,000 tonnes of contained copper.

Atalaya completed a 51% earn-in for the project in 2007, and acquired the other 49% in 2008.

At press time in London, Atalaya traded at £0.88 per share, and in Toronto, at $1.40. TNM

result. Were you?

RM: I welcomed it. The result was such a clear illustration of the disconnect between the people that write the laws that govern us, and the rest of the population. The lawmakers, regulators, politicians and bureaucrats are totally out of touch and there is real desire for change. You could look at it starting with the Arab Spring, and then you saw things happening in Europe and elsewhere. There’s a pushback. We have been led to believe that we are a kinder, softer, more accommodating and more compromising society, but a large part of the population appears to be saying that this course we are on is not the right course, and they don’t want to tolerate it any longer.

Maybeit’sjustasignthattheeconomy of the world is slowing down and that there are fewer resources to be shared.

Talk of protectionism and erecting barriers is becoming more commonplace. The world is starting to close rather than open. People don’t feel as free wandering around the world for fear of encountering someone who may do you harm.

TNM: So you were happy with the result?

RM: Yes. When I reflect on the two candidates, Trump made some outrageous statements that offended many people, but he didn’t go around making huge promises. Clinton on the other hand promised whatever people asked her for.

She exhibited an unhealthy disregard of how to rebuild the economic base of America.

I saw an interesting comment recently. It spoke of the anti-bribery laws that corporations must observe, then it questioned why politicians buying votes with promises are not also considered using bribery. When 50% of the American population receives some form of government funding, is this not a conflict of interest? Should the anti-bribery laws apply to politicians around the world?

TNM: What do you think the impact of a Trump presidency will be on the Canadian economy? Canada relies on the U.S. market for three quarters of its exports.

RM: If they’re going to rebuild their infrastructure, we’ve got the material they need. We are right next door, and our currency is cheap.

TNM: Many people thought the markets were going to tank if Trump won, and yet the Dow Jones came close to hitting a record intraday high, while the S&P/TSX Composite Index rose 0.7%. Did everyone get it wrong?

RM: Almost everyone! In the days leading up to the election, you saw gold, copper and oil moving all over the place. Just like Brexit. Was it an express bias for a candidate by the media that deliberately worked to fix the election result, or are polling services incompetent and a waste of money?

TNM: What about the longer-term impact of Trump’s win on the gold price?

RM: It doesn’t matter who won the election, the price of gold is going higher.

The election has been an enormous smokescreenandfocusedvoters’attention on personalities rather than economics.

Theadventoflowandnegativeinterest rates is destroying the future of a large part of the population. In addition, low interest rates are causing large distortionsintheeconomy,whichhasresulted in dangerous bubbles in the stock and housing markets. History suggests that a collapse of these bubbles will happen, and it will be hard and extensive.

Gold will continue to increase in value because governments around the world have been piling up the debt, the maturity dates are getting shorter and shorter, and when — not if — interest rates move up, the cost of carrying that debtforgovernments,corporationsand individuals is going to squeeze hard.

Trump will push for tax incentives that encourage American multinational companies to repatriate their

“TRUMP WILL PUSH FOR TAX INCENTIVES THAT ENCOURAGE AMERICAN MULTINATIONAL COMPANIES TO REPATRIATE THEIR LARGE FOREIGN EARNING POOLS BACK TO AMERICA, AND INVEST THOSE FUNDS IN CAPITAL ASSETS THAT CREATE EMPLOYMENT.” ROB MCEWEN CHAIRMAN, MCEWEN MINING

large foreign earning pools back to America and invest those funds in capital assets that create employment. Another area he is likely to tackle is streamlining regulations and bureaucracy that discourage business investment. And if we are really lucky he will push for tort reform.

TNM: McEwen Mining’s El Gallo I and II mines are in Mexico, of course.

What do you think the impact of the election will be on the Mexican currency longer term? As we all know, the peso almost went into free fall after the election results.

RM: I don’t know how long that will go on for. Certainly in the shortterm, it should have a positive impact on local production costs. Longer term if the lower exchange rate persists, the benefit will be lost to higher-wage demands.

TNM: Trump is friendlier to fossil fuels and may want to exploit U.S. coal. Do you have a view on that?

RM: I don’t follow coal.

TNM: Do you think Trump’s victory will affect the U.S. Federal Reserve’s decision on interest rates next month?

RM: Good question. Don’t have an opinion.

TNM: With Trump in the Oval Office, and Republicans retaining control of both the House of Representatives and the Senate, there are those who think single party rule will be good for the economy. What do you think?

RM: Legislation should pass faster and much more efficiently.

TNM: What do you think will be the impact of the election on the U.S. dollar?

RM: It’s still early days, but right now the market is saying Trump is good for business and the dollar.

TNM: Canada relies on the U.S. market for three quarters of its exports and it is the world’s largest buyer of goods exported from the United States. Trump has said he will renegotiate NAFTA or even tear it up. What effect do you think that would have on Canada?

RM: I haven’t had a conversation with him about that.

TNM: Trump has said he will move away from U.S. commitments under the Paris climate accord. This comes at the same time the federal government in Canada is instituting a national carbon tax, which will likely make Canadian energy products more expensive.

RM: Our federal and provincial politicians are going to need to sharpen their pencils and reconsider their stance on our largest dollar export! TNM

2016-11-15 5:05 PM

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Lucara Diamond’s Karowe diamond mine in central Botswana. LUCARA DIAMOND

Lucara sees a strong finish to 2016 DIAMONDS

BY SALMA TARIKH

L

starikh@northernminer.com

uc a ra Dia mond ’s (TSX : LUC) third-quarter earnings slumped partly due to the timing of its sales, but it expects to catch up in the fourth quarter.

Lucara — the operator of the high-grade Karowe diamond mine in central Botswana — reported a net loss of US$3.8 million, or a cent per share, in the three months ended September. It earned a profit of US$44.2 million, or US12¢ per share, a year ago.

The miner chalked up the loss to having one sale in the quarter, compared to two tenders the previous year, which included an exceptional stone tender. It also took a US$7.6million foreign exchange loss in the period after the Botswana pula appreciated against the U.S. dollar, compared to a foreign exchange gain in 2015.

For the fourth quarter, Lucara plans to hold two sales, including its second exceptional stone sale of the year, where it will sell its larger Type IIa stones. This should bring its quarterly financials back into the black.

On a conference call, Lucara’s CEO William Lamb said because Karowe’s production consistently includes large stones, the company has volatile quarterly numbers in terms of carats and the average dollar per carat. Adding to that would be whether the company holds an exceptional sale during the quarter.

“One or two single stones in a regular tender can actually push that average up by anywhere from $50 to $100 a carat,” Lamb says, adding that this amplifies with larger stones.

Revenue for the third quarter tumbled 58% year-over-year to US$38.1 million, despite including US$8.3 million received in the third quarter from the June tender. On average, Lucara raked in US$332 per carat, yielding a 55% operating margin. In the year-ago period, it generated an average US$1,081 per carat.

However, revenue for the first nine months of 2016 was US$229.4 million, up 45% from the US$158.6 million earned in the same period of 2015. This increase largely owed to the 813-carat Constellation diamond that Lucara sold for US$63.1 million in May 2016. Excluding the Constellation diamond, the nine months of revenue was U$166

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| Junior to hold its second exceptional diamond sale of the year in Q4

million, still more than in the same period of 2015.

“We’ve had a strong cost discipline on-site,” Lamb says. “We are sitting at US$25 per tonne milled so far this year.” As a result, Lucara has trimmed Karowe’s 2016 cash cost guidance per tonne processed from the US$29 to US$31 range to US$25 to $28. The reduction, which is its second this year, owes to power and general cost savings and higher tonnes processed.

During the quarter, Lucara mined 3.1 million tonnes of waste and over 650,000 tonnes of ore. The miner processed the same amount of ore that it extracted, which was nearly 19.5% more than expected.

As the plant processes greater volumes from Karowe’s south lobe, the recovered grade drops slightly, the company points out. But the south lobe also contains highervalue diamonds contributing to higher revenue per tonne processed than the central and north lobes.

Lucara paid a special dividend of 45¢ per share, plus its regular dividend of 1.5¢ per share, totalling $177 million (US$135 million) in the third quarter.

“Since we started paying dividends in 2014, Lucara has now paid out in excess of US$185 million, which is more than the total sum of money, which we’ve ever raised in the market,” Lamb reveals. “That again demonstrates the quality of the asset, as well as the free cash flow ability that the resource has.”

Lucara is more than halfway through its 10,000-metre resource expansion program to test the depths of Karowe’s AK06 kimberlite below 400 metres, and upgrade the inferred resources. It expects to finish the program shortly.

After paying out its dividends, Lucara ended September with US$50 million in cash. “We feel comfortable with that number, even with our capital expenses this year going into next year, with two sales to be conducted in the fourth quarter, one exceptional stone tender and one regular tender,” Lamb says.

The exceptional stone tender will have “very nice diamonds,” Lamb adds. It will include 12 large stones — ranging from 34 to 224 carats — with a combined weight of 1,100 carats.

Meanwhile, Lucara still has its

recently discovered 1,111-carat Lesedi La Rona diamond, after bids mid-year for the world’s largest uncut diamond failed to reach the minimum reserve price. The highest bid was US$61 million, missing the minimum US$70 million.

“The financial strength of the company doesn’t mean that we are forced to sell that stone,” Lamb says. The company has moved the diamond to Europe to get it fully

analyzed and expects to put it back on the market in the first half of next year.

Lucara continues to forecast revenue this year of between US$200 and US$220 million, excluding the US$63-million Constellation diamond sale. It is guiding 2016 production of over 350,000 carats of diamonds. Year-to-date it has recovered 271,702 carats grading 13.7 carats per hundred tonnes. TNM

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

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E D I T O R IA L

What a Trump presidency means for US miners COAL

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Young Johnnie gets bushed ODDS ‘N’ SODS

| Field life in northwestern Quebec in the 1950s

| Deep structural problems may hamper Appalachian coal mining recovery

M

ining’s contribution to the recent U.S. presidential election was nicely captured in the interactions of the two leading candidates with coal miners in the Appalachians.

In March 2016, Democratic Party candidate Hillary Clinton, in touting her support of Democrat-friendly alternative energy

BY JOHN CUMMING jcumming@northernminer.com industries, memorably told a town hall meeting in the hard-hit coal-mining state of West Virginia that “we’re going to put a lot of coal miners and coal companies out of business.” She later apologized for the comment. (Clinton ended up losing the state to Donald Trump, despite its substantial union presence, garnering only 26% of the vote compared to Trump’s 69%, and well off Barack Obama’s 36% tally in the 2012 presidential election.)

Trump, meanwhile, said he would “bring coal back 100%” and made the Appalachian coal miners part of his stump speech in the northeastern states, saying that “we’re going to get those miners back to work ... we’re not going to be Hillary Clinton ... talking about the miners as if they were just numbers. Believe me. You’re going to be proud again to be miners.”

Now that Trump has won the election, we can try to separate the campaign bluster and hyperbole from any achievable policy changes that could help the struggling miners of the Appalachians — i.e., the 60,000 miners still left in West Virginia, Kentucky, Ohio, Alabama, Pennsylvania, Maryland, Virginia and Tennessee.

Coal powers a third of U.S. electricity, down from 50% in past decades, but even sharper declines in coal prices in recent years have bankrupted most of America’s biggest coal miners, and left them to scrape along as shells of their former selves.

Pro-coal groups in the U.S. have complained for years of the federal government’s so-called “war on coal,” and much of their ire centres on the Obama administration’s Clean Power Plan, which Republicans have vowed to repeal, and are likely to do so in short order. Other regulations that have raised the cost of coal power plants such as the Mercury and Air Toxics Standard and the Cross-State Air Pollution Rule may also be in the coal sector’s crosshairs.

While Appalachian coal production has declined steadily over the past 25 years, most of it has been replaced by coal production from the prolific Powder River basin (PRB) in Montana and Wyoming, which became economic when rail transportation rates fell. With its exceptionally thick seams, shallow depths and low sulphur content preferred by power generators, today’s PRB coal producers are a formidable competitor to their coal cousins out East, with their smaller, less efficient and more polluting operations.

Indeed, despite all the job losses, shutdowns and bankruptcies plaguing the U.S. coal industry, total U.S. coal production has been relatively constant since at least 1990, moving up and down around 260 million tonnes per annum, as highly efficient PRB operators expand their market share at the expense of Appalachia.

Trump’s campaign stance relating to energy production in the U.S. was a simple promise to eliminate all executive and congressional limits on fossil fuel production on federal lands and waters. In many ways that would benefit the PRB coal miners over the Appalachian producers, as so much land in the U.S. Northwest is deemed federal land.

The emergence over the past 20 years of relatively cheap and clean natural gas-powered electricity in the U.S. has been hard on Appalachian miners. Last year, as the fracking revolution rolled along, natural gas surpassed coal for the first time as the main fuel for electricity generation in the U.S., rising from 15% in 1998 to above 35% today.

Trump’s pledge to lift federal restrictions on federal lands for energy extraction could arguably benefit natural gas production even more than coal mining, further depressing the coal sector’s fortunes.

One Trump pledge that seems likely to be fulfilled and will benefit all miners in the U.S. is a reduction in corporate income taxes to levels more competitive with rival nations. For example, the federal corporate tax rate is 39% in the U.S., compared to 26% in Canada, which lowered its rate from 43% in 2000, resulting in a number of U.S. companies relocating to Canada — such as Burger King in 2014. TNM

BY HAROLD LINDER Special to The Northern Miner

T

oward the end of my first summer in the bush in 1958, we had a crew change. I was party chief of a three-man McPhar Geophysics crew locating and detailing airborne electromagnetic anomalies, and a recent graduate of MIT in geology and geophysics.

We were covering the Evans Lake greenstone belt in northwestern Quebec, 60 miles north of the Mattagami greenstone belt, where there had been a recent discovery.

We were camped on an unnamed river that we called Dana River, since it flowed north into Dana Lake, a complex western lobe of Evans Lake. (The river is now officially named Pauschikushish Ewiwach.)

The Dana River country was flat and mostly muskeg, so our tent was pitched in the alders right on the riverbank where the pilot had dropped us. After a few days of rain the Dana River rose 15 inches and spread under our tent, and we were able to tie our canoe to a tent pole.

the north, or he might just walk into camp from the south. If you were imprudent enough to question this, he could give several plausible explanations that wouldn’t satisfy you at all.

Most geologists quickly learned to leave a prospector alone. His instincts were often as good as his theories were laughable. The important thing was that he was out there breaking rocks.

After a few days, I noticed that Johnnie was probably getting “bushed.” One day he forgot his axe and had to walk quite a ways back to camp to get it. Angus had already told me that in a previous camp, Johnnie had notched numerous trees so that in a windstorm they would fall on their tent. When quizzed, Johnnie acted surprised and told Angus he was just blazing trees for the hell of it.

Then one day Angus took me aside and asked if I saw anything funny about Johnnie. He said that when he and Johnnie were together in the bush, Johnnie would laugh for no apparent reason and at first Angus thought he was missing a joke. Then Johnnie began to

MOST GEOLOGISTS QUICKLY LEARNED TO LEAVE A PROSPECTOR ALONE. HIS INSTINCTS WERE OFTEN AS GOOD AS HIS THEORIES WERE LAUGHABLE. Angus Wilbur, a veteran bushman, and Johnnie, a young man, had flown into the bush with me in June but had spent the summer in another McPhar camp. The plane also brought in Tom and Martin, two prospectors.

It was common to attach a couple of prospectors to a geophysical crew, but they usually operated more or less independently from an adjacent tent. The geologist would suggest areas to be prospected, but most prospectors were independent by nature and resisted direction by anyone, especially a geologist, and even more so if he was young and inexperienced.

You could suggest to a prospector that he should prospect an area north of camp, and he would usually leave camp in the morning going north. But if he had a theory that the best prospecting was south of camp, he’d probably just circle around and go where he wanted.

In the evening he might again circle the camp and return from

laugh around camp at nothing in particular. When we asked him what was funny, he’d just laugh more and say nothing. After a few days in a small tent, this got very annoying.

One rainy day Johnnie sat in the corner of the tent, and while Angus and I read, he slowly whittled all of our carrots into a pile of shavings that formed a cone about a foot high. We observed but said nothing. Later, Angus stopped Johnnie just as he was about to take a swig out of a gallon jug of Javex bleach, apparently to rinse his mouth after brushing his teeth.

Because we were leaving the bush soon, I didn’t think it necessary to order a special plane to fly him out, but we watched him very carefully and I made a point of hiding the kitchen knives. Everyone in the bush gets a little strange, if they weren’t already, but Johnnie was really bushed.

Meanwhile the two prospectors cooked in their own tent but usu-

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Camp on the bank of “Dana River” (now officially named Rivière Pauschikushish Ewiwach) in the Evans Lake area of northwestern Quebec during the summer of 1958. PHOTO BY HAROLD LINDER

2016-11-15 5:05 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / NOVEMBER 21–27, 2016

5

Women Who Rock to hold third mentoring ‘Auction for Action’ PEOPLE IN MINING

I

A de Havilland Beaver bush plane in the Evans Lake area of northwestern Quebec during the summer of 1958, with the pilot at the rear paddling the plane to shore. PHOTO BY HAROLD LINDER

ally came to our tent after supper to visit and to play cribbage. They were an interesting pair, I think from somewhere in northern Ontario. Tom was a tall, thin and fit man with a Scandinavian accent, probably about 65. He was stern and slow to laugh. We somehow got the idea that he’d run away to sea as a young man and had had a lot of adventures before coming to Canada. Tom’s actions were slow and deliberate, but he still seemed more fit than Martin, who was a stocky man, probably in his fifties and more outgoing.

I was curious to know more about them and how they came to work together. But the bush was a lot like the Wild West, where it wasn’t a good idea to ask too many questions. If a man wanted to tell you why he was in the bush and something about his background, he’d tell you in good time. You took people as they came and learned to work with them, always looking out for their strengths, weaknesses and quirks.

We played a three-game series of cribbage every night by candlelight, usually Tom and I as partners against Angus and Martin. After several nights, I noticed that Martin was making some stupid mistakes, and when I finally got him alone, I made some comment. Martin looked chagrined and managed a wry smile.

It seemed that Tom took the crib game very seriously. When he won, he went back to his tent whistling and happy. If he lost, he was crushed and went to bed without saying a word. Martin didn’t care about the game, so he deliberately let Tom win so he’d talk to him when they went back to the tent.

Living together in the bush meant making accommodations of many kinds. And my first summer in the bush was certainly a continuation of my education.

— Dr. Harold Linder is an exploration geologist who has worked on all seven continents and is now retired in Anthem, Arizona. He discovered the giant, unmined Schaft Creek porphyry copper-molybdenum deposit in northern B.C. in 1968 for Hecla Mining. In 1986 he discovered the Castle Mountain gold deposit in the Mojave Desert of southern California for Viceroy Resources, which produced over 1.25 million oz. gold between 1992 and 2001. The preceding is an excerpt from his new memoir Wild Places: The Adventures of an Exploration Geologist, which is available at Amazon.com.

1 2 3 4 5 7 8 9 10 16_Nov 21_Main .indd 5

| Seeking entrants for ‘I wanna be mentored’ competition

f you’re a female student or recent graduate of a mining-related discipline, be sure to take a look at the Women Who Rock organization’s “I wanna be mentored” competition, where you can win $1,000 to bid on one hour of mentorship time with a mining leader, with bidding to take place at the Women Who Rock Third Annual Auction for Action.

The entry deadline is Dec. 10, 2016, and entrants must provide a one-page essay, a resume and a mentoring story. For more information on the competition, including further guidelines, please visit www. womenwhorock.ca and email Sophie at sophie@womenwhorock.ca.

The Auction for Action event will take place on Jan. 17, 2017, at 5:30 p.m. at the Trump International Hotel & Tower’s ballroom in downtown Toronto. The Northern Miner is a media sponsor of the event.

The previous event resulted in the following mentorships: • Lorena Tere, a chemical engineerin-training recently graduated from the University of Toronto, and Konstanca Tere, a chemical engineering undergraduate at Ryerson University, were supported

by PearTree Securities to win time with David Garofalo, president and CEO of Hudbay Minerals.

• Pierina Vargas, an MBA student specializing in global mining management and finance at York University, was supported by KPMG to win time with Egizio Bianchini, managing director of BMO Capital Markets.

• A lexandra Foty and Mélanie LaRoche-Boisvert, two mining engineering undergraduate students at McGill University, were supported by the TSX to win time with Paul Rollinson, CEO of Kinross Gold. TNM

IN THE MATTER OF THE COMPANIES’ CREDITORS ARRANGEMENT ACT, R.S.C. 1985, c. C-36, AS AMENDED AND IN THE MATTER OF A PLAN OF COMPROMISE OR ARRANGEMENT OF RUBICON MINERALS CORPORATION, 0691403 B.C. LTD., 1304850 ONTARIO INC., RUBICON MINERALS NEVADA INC., RUBICON NEVADA CORP., RUBICON ALASKA CORP. AND RUBICON ALASKA HOLDINGS INC. (the “Applicants”) NOTICE OF MEETINGS OF CREDITORS OF THE APPLICANTS NOTICE IS HEREBY GIVEN that meetings (the “Meetings”) of creditors of the Applicants entitled to vote on a plan of compromise and arrangement (the “Plan”) proposed by the Applicants under the Companies Creditors’ Arrangement Act (the “CCAA”) will be held for the following purposes: (1) to consider and, if deemed advisable, to pass, with or without variation, a resolution to approve the Plan; and (2) to transact such other business as may properly come before the Meetings or any adjournment thereof.

The Meetings are being held pursuant to an order of the Ontario Superior Court of Justice (Commercial List) (the “Court”) dated November 10, 2016 (the “Meetings Order”).

NOTICE IS ALSO HEREBY GIVEN that the Meetings Order establishes the procedures for the Applicants to call, hold and conduct Meetings of the holders of Claims against the Applicants to consider and pass resolutions, if thought advisable, approving the Plan and to transact such other business as may be properly brought before the Meetings. For the purpose of voting on and receiving distributions pursuant to the Plan, the holders of Claims against the Applicants will be grouped into three classes, being the CPPIB Secured Class, the Royal Gold Secured Class and the Affected Unsecured Creditors Class.

NOTICE IS ALSO HEREBY GIVEN that the Meetings will be held at the following dates, times and location: Date: December 2, 2016 Time 2:00 p.m. – CPPIB Meeting, 2:15 p.m. – Royal Gold Meeting, 2:30 p.m. – Unsecured Creditors Meeting Location: Goodmans LLP, 333 Bay Street, Suite 3400, Toronto, Ontario Subject to paragraph 17 of the Meetings Order, only those creditors with Voting Claims or Disputed Voting Claims (each such creditor an “Eligible Voting Creditor”) will be eligible to attend the applicable Meetings and vote on a resolution to approve the Plan.

Eligible Voting Creditors are those Creditors: (1) who have received a Notice of Claim from the Monitor confirming the existence of a Claim against the Applicants in accordance with the Claims Procedure Order dated October 20, 2016 (the “Claims Procedure Order”); (2) who have submitted a Proof of Claim in respect of a claim against the Applicants in accordance with the Claims Procedure Order, which claim has not been disallowed in accordance with the Claims Procedure Order; or (3) are Allowed Secured Creditors. The votes of Affected Unsecured Creditors holding Disputed Voting Claims will be separately tabulated and Disputed Voting Claims will not be counted unless, until and only to the extent that any such Disputed Voting Claim is finally determined to be a Voting Claim. A holder of an Unaffected Claim or an Equity Claim shall not be entitled to attend or vote at the Meetings in respect of such Unaffected Claim or Equity Claim.

Subject to the Plan and paragraph 23 of the Meetings Order, each Affected Unsecured Creditor with a Voting Claim or a Disputed Voting Claim of not more than $5,000 shall be deemed to vote in favour of the Plan (unless such Affected Unsecured Creditor has notified the Monitor in writing of its intention to vote against the Plan prior to the Unsecured Creditors Meeting and does vote against the Plan at the Unsecured Creditors Meeting), and will be paid in full, pursuant to and subject to the implementation of the Plan, to the extent that such Claim is proven as a Distribution Claim.

Any Eligible Voting Creditor who is unable to attend the applicable Meeting may vote by proxy, subject to the terms of the Meetings Order. Any Eligible Voting Creditor who is not an individual may only attend and vote at the applicable Meeting if a proxy holder has been appointed to act on its behalf at such Meeting.

Pursuant to the terms of the Meeting Order, Affected Unsecured Creditors (other than Convenience Creditors in respect of their respective Allowed Convenience Claims and the Allowed Secured Creditors in respect of their respective Allowed Secured Creditors Unsecured Claims) must indicate on their Proxies their Unsecured Creditor Election in respect of distributions to be made under the Plan or shall otherwise be deemed to have made the applicable Unsecured Creditor Election pursuant to the terms of the Meeting Order.

NOTICE IS ALSO HEREBY GIVEN that if the Plan is approved at the Meetings by the required majorities of Creditors and other necessary conditions are met, the Applicants intend to make an application to the Court on December 8, 2016 or such other date as may be set by the Court (the “Sanction Hearing”) seeking an order sanctioning the Plan pursuant to the CCAA (the “Sanction Order”). Any person wishing to oppose the application for the Sanction Order must serve a copy of the materials to be used to oppose the application and setting out the basis for such opposition upon the lawyers for the Applicants and the Monitor as well as those parties listed on the Service List posted on the Monitor’s Website. Such materials must be served by not later than 5:00pm (Toronto time) on December 5, 2016, or such other date determined by the Monitor.

NOTICE IS ALSO HEREBY GIVEN that in order for the Plan to become effective: 1. the Plan must be approved by the required majorities of Creditors voting on the Plan in accordance with the terms of the Meetings Order; 2. the Plan must be sanctioned by the Court; and 3. the conditions to implementation and effectiveness of the Plan as set out in the Plan and summarized in the Information Statement must be satisfied or waived pursuant to the terms of the Plan, as applicable.

Additional copies of the Information Package, including the Information Statement and the Plan, may be obtained from the Monitor’s Website at www.ey.com/ca/rubicon or by contacting the Monitor by telephone at 416-941-1880 (Toronto local) or 1-844-201-1547 (toll free) or by email at rubicon@ca.ey.com.

All capitalized terms used but not otherwise defined herein have the meanings ascribed to them in the Meetings Order or the Plan.

© 2016 Ernst & Young Inc.

2016-11-15 5:05 PM

6

WWW.NORTHERNMINER.COM

NOVEMBER 21–27, 2016 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / NOVEMBER 7–11 The election of Donald Trump as the forty-fifth president of the United States sent the S&P/ TSX Composite Index up 0.7% — or 103.07 points to 14,759.91 — on Nov. 9, the day after his win. For the week, Canada’s benchmark index settled at 14,555.41, for an increase of 46.16 points, or 0.3%. The S&P/TSX Global Mining Index barely budged, rising from 64.10 to 64.14, while the S&P/TSX Global Gold Index plunged 16.1%, or 36.66 points, to 191.13. Spot gold fell US$76.40 per oz., or 5.9% to US$1,227.60 per oz., while base metals moved in the opposite direction on Trump’s campaign promises of more infrastructure spending. Copper rose more than 10% to US$2.51 per lb. and nickel climbed 6.5% to US$5.06 per pound. West Texas Intermediate crude fell 2% to US$43 per barrel.

Agrium and Potash Corp. of Saskatchewan jumped on news that the Ontario Superior Court of Justice issued an order approving their proposed merger. Shareholders of both companies already have voted overwhelmingly in favour of what the companies are calling a “merger of equals.” Agrium shares closed at $132.55, up $12.66, while PotashCorp closed at $23.84, up $2.47.

Shares of Hudbay Minerals rose $1.84 — or 31% — to $7.75, after the company resolved issues at its Constancia copper mine in Peru.

The company temporarily suspended opera-

tions at the mine for safety reasons on Nov. 8, when trespassers entered the open-pit area.

But operations got back to normal on Nov. 11 after Hudbay negotiated — with support from the Peruvian government — a peaceful resolution of the occupation of the open pit.

Copper Mountain Mining’s shares jumped 51.1% to 68¢ on third-quarter results. The company’s 75%-owned Copper Mountain mine in British Columbia produced 22 million lb. copper, 8,200 oz. gold and 81,500 oz. silver in the three months ended Sept. 30, up from 20.4 million lb. copper, 6,300 oz. gold and 64,900 oz. silver in the third quarter of 2015. Revenues were $72.2 million, up from $63.7 million in the year-earlier quarter.

Copper Mountain posted an adjusted loss of $7.94 million, compared to $28.1 million TSX MOST ACTIVE ISSUES

B2Gold Yamana Gold Kinross Gold First Quantum Lundin Mng HudBay Mnls IAMGOLD Barrick Gold Teck Res Eldorado Gold

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

BTO YRI K FM LUN HBM IMG ABX TCK.B ELD

55514 3.90 3.12 3.17 - 0.69 42406 5.10 4.03 4.07 - 0.88 36986 5.73 4.39 4.39 - 1.11 36417 15.74 12.48 14.22 + 2.12 27737 6.57 5.25 6.12 + 0.97 27382 8.33 6.05 7.75 + 1.84 26972 6.27 4.81 4.87 - 0.75 26935 24.60 19.87 20.06 - 4.44 22120 30.88 28.45 30.54 + 2.38 21893 4.54 3.55 3.60 - 0.79

in the third quarter of 2015. The company ended September with a $25-million cash balance, in a $20-million increase from June.

Shares of Primero Mining fell 41.8% to $1.06. The company cut its 2016 production guidance to between 170,000 and 190,000 equivalent oz. gold at total cash costs of between US$850 and US$900 per equivalent oz. gold, with all-in sustaining costs of between US$1,350 and US$1,400

per oz. gold. Primero said third-quarter production from its San Dimas mine in Mexico was affected by unplanned worker absences and not fulfilling mine plans, which lowered underground development rates and delayed ventilation-improvement projects. Access to high-grade areas of the San Dimas mine was limited. The company posted a US$11.7-million net loss in the third quarter. TNM

TSX GREATEST PERCENTAGE CHANGE

Amerigo Res Copper Mtn Mng Alderon Iron Champion Iron Yellowhead Mng Candente Coppr HudBay Mnls Taseko Mines Nevada Copper Nthn Dynasty Primero Mng Goldgroup Mng Eco Oro Mnls Timmins Gold Richmont Mines Silver Bear Rs Tanzania Rlty McEwen Mng Silver Wheaton Minco Silver

ARG CUM ADV CIA YMI DNT HBM TKO NCU NDM P GGA EOM TMM RIC SBR TNX MUX SLW MSV

5279 12234 1833 4907 665 1405 27382 2814 1084 7291 10107 6165 95 12700 2043 1742 258 4997 12153 302

0.28 0.16 0.26 0.79 0.45 0.68 0.35 0.21 0.31 0.44 0.25 0.34 0.07 0.00 0.06 0.14 0.10 0.12 8.33 6.05 7.75 0.85 0.60 0.76 0.78 0.58 0.76 1.26 0.93 1.18 1.83 1.01 1.06 0.28 0.17 0.17 0.27 0.00 0.20 0.64 0.45 0.46 11.97 8.67 8.80 0.34 0.25 0.26 0.95 0.67 0.69 4.85 3.47 3.62 33.50 24.09 24.28 1.28 0.92 0.95

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

TSX GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Agrium Potash Corp SK Teck Res Teck Res Labrador Iron First Quantum HudBay Mnls Lundin Mng Imperial Metal Cameco Corp Franco-Nevada Agnico Eagle Silver Wheaton Torex Gold Barrick Gold MAG Silver Detour Gold Richmont Mines Endeavour Mng Seabridge Gld

52.9 51.1 47.6 34.0 33.3 33.3 31.1 26.7 22.6 21.6 41.8 33.3 31.0 30.0 28.5 24.6 24.2 23.9 23.9 23.4

VOLUME WEEK (000s) CLOSE CHANGE

AGU POT TCK.B TCK.A LIF FM HBM LUN III CCO FNV AEM SLW TXG ABX MAG DGC RIC EDV SEA

1641 132.55 13272 23.84 22120 30.54 50 30.42 2065 16.55 36417 14.22 27382 7.75 27737 6.12 332 5.85 8418 11.78 4219 77.56 4858 57.19 12153 24.28 3845 18.85 26935 20.06 1388 15.79 7734 17.16 2043 8.80 1751 20.86 464 12.37

+ 12.66 + 2.47 + 2.38 + 2.37 + 2.21 + 2.12 + 1.84 + 0.97 + 0.82 + 0.71 - 12.74 - 12.07 - 7.62 - 4.70 - 4.44 - 3.94 - 3.53 - 3.50 - 3.39 - 2.90

TSX VENTURE EXCHANGE / NOVEMBER 7–11 The S&P/TSX Venture Composite Index dove 34.07 points, or 4.5%, to a 727.91-point close in the aftermath of the U.S. presidential election. Spot gold prices dropped US$77.42 to US$1,227.64 per oz. — its lowest level since June — whereas Comex copper prices rose to 16-month highs, gaining US24¢ to US$2.51 per pound.

Shares of Abitibi Royalties shed $1.42 to $8.35, marking the greatest value loss during the trading period. The company’s primary royalty is a 3% net smelter return royalty on the eastern part of Agnico Eagle Mines and Yamana Gold’s Canadian Malartic gold mine in Quebec.

Diamond explorer Archon Minerals was a front-runner in the value-added category, gaining 28¢ to $1.70 per share. In October, the company stated in third-quarter financial results that an exploration campaign is underway near Dominion Diamond’s Ekati diamond mine in the Northwest Territories.

Archon owns a 35.7% interest in Dominion Diamond’s Buffer zone, which hosts the Jay and Lynx kimberlite pipes, and a 100% interest in the West Buffer zone.

Junior explorer G4G Capital gained 9¢ to $1 per share after the Nov. 2 appointment of Robert Carpenter, cofounder and former CEO of Kaminak Gold, as a director. G4G recently

acquired 2,490 sq. km of land holdings in the Yukon’s prospective White Gold district from prospector Shawn Ryan and private company Wildwood Exploration. The properties represent all of Ryan’s precious metal interests in the district that is not under joint venture.

G4G plans to change its name to White Gold Corp., pending shareholder approval, to better reflect its focus on exploration in the Yukon.

Depressed silver prices drove shares of Avino Silver and Gold Mines down 55¢ to $2.58 per share, despite strong third-quarter financial results. The company gained $13.2 million in revenues from production at its Avino silver-gold and San Gonzalo silvergold mines near Durango, Mexico, up 163% from last year’s comparable quarter.

The company produced 410,908 oz. silver TSX-V MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Am Manganese AMY 25995 Spearmint Res SRJ 25724 Cameo Res CRU 25530 Corsa Coal CSO 7464 Purepoint Uran PTU 6976 Cyprium Mng CUG 6286 First Mg Fin FF 6045 Victoria Gold VIT 4863 Noram Vent NRM 4820 Integra Gold ICG 4789

0.29 0.04 0.07 0.13 0.09 0.08 0.86 0.68 0.07 0.74

0.16 0.02 0.05 0.11 0.07 0.06 0.66 0.50 0.06 0.58

0.23 + 0.03 + 0.05 unch 0.11 - 0.07 - 0.06 unch 0.69 - 0.53 - 0.06 - 0.61 -

0.06 0.01 0.00 0.01 0.02 0.00 0.10 0.10 0.01 0.12

and 1,813 oz. gold from 138,000 tonnes, and reported a net income of $1.2 million, compared to last year's third-quarter $625,000 loss. The company is developing an operating plan to ramp up production at its Bralorne gold mine near Gold Bridge, B.C., which has been under trial production status since 2010. The mine plan includes changing the mining method to longhole

mining, which should support production levels up to 300 tonnes per day. Expansion work on the 100-tonne-per-day mill and infrastructure is expected to begin by year-end. A resource update in October pegged the deposit at 248,000 measured and indicated tonnes of 9.36 grams per tonne gold, and 330,000 inferred tonnes of 6.24 grams gold. TNM

TSX-V GREATEST PERCENTAGE CHANGE

Lovitt Res PNG Gold Gonzaga Res Canadian Zeol Altan Nev Mnls Getty Copper Red Oak Mg Discovery-Corp Intl Samuel Ex Eskay Mng Edgewater Expl Lakeside Mnrls Jasper Mng Starr Peak Exp MacDonald Mns Apple Cap Inc ExGen Res Inc Guerrero Vents Tri-River Vent MBAC Fertilizr

LRC.H PGK GN CNZ ANE GTC ROC.H DCY ISS ESK EDW.H LAK.H JSP STE BMK YD EXG GV TVR.H MBC

348 1693 1726 4184 170 762 6 2626 204 491 241 496 8 9 190 2370 508 226 4 73

0.15 0.31 0.10 0.91 0.02 0.04 0.02 0.07 0.10 0.25 0.06 0.04 0.05 0.17 0.01 0.29 0.01 0.02 0.03 2.60

0.03 0.01 0.05 0.42 0.01 0.00 0.00 0.03 0.05 0.20 0.05 0.02 0.03 0.08 0.01 0.14 0.01 0.00 0.00 1.02

0.15 0.18 0.10 0.91 0.02 0.03 0.02 0.04 0.10 0.25 0.05 0.02 0.03 0.08 0.01 0.16 0.01 0.01 0.03 1.02

TSX-V GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

+ 400.0 + 260.0 + 122.2 + 109.2 + 100.0 + 100.0 + 100.0 + 75.0 + 72.7 + 66.7 - 75.0 - 73.3 - 53.8 - 52.9 - 50.0 - 50.0 - 50.0 - 50.0 - 45.5 - 43.3

VOLUME WEEK (000s) CLOSE CHANGE

Canadian Zeol Archon Mineral Everest Vent Goldex Res PNG Gold Lovitt Res Advantage Lith Mason Graphite Eskay Mng G4G Capital Abitibi Royalt MBAC Fertilizr Chesapeake Gld Bear Creek Mng Mirasol Res Avino Silver Brazil Res Comet Inds Gold Std Vents Almadex Min

CNZ ACS HOIL GDX PGK LRC.H AAL LLG ESK GGC RZZ MBC CKG BCM MRZ ASM BRI CMU GSV AMZ

4184 28 22 33 1693 348 1081 924 491 306 43 73 154 795 1167 360 2782 4 1047 758

0.91 1.70 0.90 0.75 0.18 0.15 1.14 1.33 0.25 1.00 8.35 1.02 3.90 2.05 1.87 2.58 2.06 2.60 2.84 1.29

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

0.48 0.28 0.18 0.18 0.13 0.12 0.10 0.10 0.10 0.09 1.42 0.78 0.67 0.60 0.55 0.55 0.45 0.40 0.33 0.31

U.S. MARKETS / NOVEMBER 7–11 Expectations by many that Donald Trump’s electoral victory would boost the U.S. economy sent the Dow Jones Industrial Average up 5.4%, or 959.38 points, to 18,847.66. The S&P 500 Index also gained, rising 3.8%, or 79.27 points, to 2,164.45. The Philadelphia Gold & Silver Index fell 11.07 points, or 12.4%, to 78.05.

Shares of Vale were the second most traded, and rose 15% to US$7.69. On Nov. 11, Vale announced that a court in Brazil’s Minas Gerais state had ruled that both Vale and BHP Billiton have 30 days to come up with US$354 million to fund initial clean up at their joint-ventured Samarco iron ore mining complex. The partners also must prove within 90 days that the tailings dam failure, which occurred in November 2015, has been fully contained, and within six months, present plans on how they will complete the clean up. The tailings dam failure sent 60 million cubic metres of mine waste and sludge into Brazil’s Rio Doce river system, killed 19 people, and destroyed 200 homes and several small communities.

R io Tinto’s sha res rose US$5.15 to

6_Nov 21_MarketNews.indd 6

US$39.08, despite news of a potential bribery probe involving its Simandou iron ore project in Guinea. The company announced on Nov. 11 that it had alerted authorities in the U.K. and the U.S., and was contacting authorities in Australia, about email correspondence from 2011 relating to US$10.5 million in contractual payments for consultant services. Rio Tinto said it became aware of the email correspondence on Aug. 29, and launched an investigation into the matter led by external counsel.

Based on this investigation, it said, it is taking steps to notify authorities and susU.S. MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Freeport McMo* FCX 326381 14.26 11.11 13.94 + 2.89 Vale* VALE 253405 8.10 7.01 7.69 + 1.02 Barrick Gold* ABX 133536 18.31 14.66 14.84 - 3.43 United States S* X 127528 25.78 20.01 25.71 + 5.85 Hecla Mining* HL 104898 7.64 5.93 6.03 - 0.43 Vale* VALE.P 103620 7.50 6.65 6.98 + 0.66 Yamana Gold* AUY 96952 3.80 2.98 3.01 - 0.69 Kinross Gold* KGC 83103 4.27 3.24 3.25 - 0.86 Goldcorp* GG 59115 15.69 13.02 13.14 - 2.16 IAMGOLD* IAG 57664 4.66 3.54 3.59 - 0.62

pend Alan Davies, the company’s chief executive of energy and minerals, who the company said had accountability for the Simandou project in 2011. Last month, Rio Tinto announced that it had signed a nonbinding agreement to sell its entire stake

in Simandou to Chinalco for payments of US$1.1 to $1.3 billion, based on the project’s development. Under the agreement, the initial payment for shares would start at the time of commercial production, on a per-tonne basis. TNM

U.S. GREATEST PERCENTAGE CHANGE

HudBay Mnls* United States S* Freeport McMo* Mechel* Trecora Res* Southern Copp* Natural Res Pt* MartinMarietta* Alcoa* Vale* Primero Mng* DRDGOLD* Harmony Gold* McEwen Mng* Silver Wheaton* Endeavr Silver* AngloGold Ash* Kinross Gold* Pretium Res* Seabridge Gld*

HBM X FCX MTL TREC SCCO NRP MLM AA VALE PPP DRD HMY MUX SLW EXK AU KGC PVG SA

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

2915 6.15 4.45 5.75 127528 25.78 20.01 25.71 326381 14.26 11.11 13.94 4220 5.83 4.60 5.45 209 12.10 10.03 11.90 13964 34.79 27.58 32.80 697 37.90 27.75 36.45 9501 235.40 193.68 229.74 39049 29.99 24.30 29.30 253405 8.10 7.01 7.69 15216 1.37 0.75 0.81 2946 5.32 3.87 3.93 35673 3.45 2.47 2.54 32078 3.64 2.56 2.67 41786 24.97 17.78 17.92 15055 5.07 3.72 3.74 30805 14.37 11.17 11.21 83103 4.27 3.24 3.25 12088 10.09 7.98 8.06 4244 11.20 9.00 9.15

+ 30.7 + 29.5 + 26.2 + 24.1 + 20.8 + 20.0 + 19.5 + 19.5 + 16.3 + 15.3 - 40.3 - 25.8 - 25.7 - 24.8 - 24.7 - 22.9 - 20.9 - 20.9 - 19.6 - 19.4

U.S. GREATEST VALUE CHANGE

MartinMarietta* NACCO Ind* Agrium* Natural Res Pt* United States S* Southern Copp* Rio Tinto* Alcoa* Mosaic* Freeport McMo* Franco-Nevada* Agnico Eagle* Newmont Mng* Silver Wheaton* Barrick Gold* AngloGold Ash* Black Hills* Sibanye Gold* Seabridge Gld* Goldcorp*

VOLUME WEEK (000s) CLOSE CHANGE

MLM NC AGU NRP X SCCO RIO AA MOS FCX FNV AEM NEM SLW ABX AU BKH SBGL SA GG

9501 229.74 76 87.60 2612 97.85 697 36.45 127528 25.71 13964 32.80 29461 39.08 39049 29.30 32142 27.41 326381 13.94 5558 57.22 15263 42.24 53282 31.59 41786 17.92 133536 14.84 30805 11.21 3226 58.01 10134 9.44 4244 9.15 59115 13.14

+ 37.41 + 10.30 + 8.34 + 5.95 + 5.85 + 5.47 + 5.15 + 4.10 + 2.91 + 2.89 - 10.17 - 9.44 - 6.21 - 5.88 - 3.43 - 2.97 - 2.25 - 2.23 - 2.20 - 2.16

2016-11-15 4:54 PM

SPECIAL FOCUS

ABITIBI

THE

Metanor eyes 2017 restart at Barry QUEBEC |

Open-pit gold mining at Barry could provide a $25M NPV and 94% IRR, offsetting Bachelor financials

Detour shares fall on lower 2017 guidance ONTARIO GOLD |

Analysts cut price targets

BY SALMA TARIKH starikh@northernminer.com

D

ing, dilution becomes a problem,” Perry says. “The main veins are where we want to be, and where the money is made, and we’re just finding extensions of that now at Hewfran. So we expect production to go back up and everything to go in the right direction, slowly and surely.”

Since the operation started in 2010, Bachelor has produced 151,374 oz. gold out of the 200,177 oz. gold calculated in the deposit’s proven and probable reserves. The declining resource base is driving Metanor to seek more feed sources.

For the past year, the company has focused some of its flow-through money on its Moroy gold prospect

etour Gold (TSX: DGC) shares plunged after the company warned it expects to produce less gold than planned next year from its only gold mine, near Cochrane, Ontario.

On Nov. 1, Detour said its flagship Detour Lake gold mine should deliver between 540,000 and 590,000 oz. in 2017, below the life-of-mine (LOM) plan of 614,000 ounces.

“We are disappointed with the preliminary outlook for 2017, and we know we have let our board and investors down,” Detour’s CEO Paul Martin said on a conference call.

Of the 50,000 oz. reduction, 30,000 oz. is due to the face position of the mine’s Campbell pit, after slower development in 2016.

Roughly 10,000 oz. relates to slightly lower recovery and higher dilution assumptions. Detour also removed 10,000 oz. for downside risk until it finalizes the 2017 guidance in January.

Lower drilling productivity and equipment availability issues in the first quarter lowered mining rates in the pit. Despite quarter-overquarter improvements, the mining rate year-to-date averaged 243,000 tonnes per day. This is 5 million tonnes behind the budgeted mine plan, Martin says.

As a result, this delayed bench development in the Campbell pit.

Two low-grade benches, slated to be mined in 2016, were pushed into 2017. One higher-grade bench, planned for 2017, was moved to 2018. In total, Detour will mine five benches next year.

“When we reviewed that mine plan for 2017, there was unfortunately bench 148 that we can’t reach,

See METANOR / 8

See DETOUR / 8

A drill site in October 2016 at the Moss area on Metanor Resources’ Barry gold project in Val-d’Or, Quebec. METANOR RESOURCES

BY LESLEY STOKES lstokes@northernminer.com VANCOUVER

M

etanor Resources (TSXV: MTO) hopes that a restart of its Barry open-pit gold mine in Val-d’Or, Que., will bring some extra pep to the junior’s step, considering that cash f low and profits from its flagship Bachelor underground gold mine, 150 km north, are being hampered by a five-year-old gold stream.

Ronald S. Perry, vice-president and treasurer of Metanor, tells The Northern Miner during a phone interview that any added mine life at Bachelor “is a win” for Sandstorm Gold (TSX: SSL; NYSE-MKT:

www.mineshandbook.com

SAND) — a royalty and streaming company that gave Metanor US$20 million in 2011, in exchange for a 20% purchase of Bachelor’s life-ofmine gold production for US$500 per ounce.

“Sandstorm has been a great financial partner and supporter of our business. At the time, the deal made sense, but then inflation hit and we got caught up in cost escalations,” he says. “For the past four years we’ve been in a position of weakness, mainly operating our company for our financial partners.

But with Barry we can finally move into a position of strength, and generate cash flow and profits for our shareholders in 2017 and onwards.”

In the second quarter, underground mining at Bachelor pro-

duced 8,500 oz. gold from 61,000 tonnes of 4.6 grams per tonne gold, and generated $15.5 million in revenue from gold sales.

Production was down from the 10,277 oz. gold seen in last year’s comparable quarter, as mining advanced into a narrow set of veins named “A” and “B.” The company reports that dilution is up to 40%, compared to the 10% predicted in a prefeasibility study.

The outcome of lower grades at Bachelor has resulted in a gross loss of $4.7 million for the fiscal year ending June 30, compared to $1.3 million for the corresponding period last year.

“We’ve been mining these narrow veins, which look great on paper, but when you’re down there blast-

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THE ABITIBI

NOVEMBER 21–27, 2016 / THE NORTHERN MINER

WWW.NORTHERNMINER.COM

Ball mills at Detour Gold’s flagship Detour Lake gold mine in northern Ontario. PHOTO BY SALMA TARIKH

Detour shares fall on lower guidance DETOUR From 7

which has 65,000 oz. gold,” Laurie Gaborit, Detour’s director of investor relations, says in an interview. “It’s a calendar issue because we should have gotten it at the end of 2017 — November or December. But now we can only get to it in early 2018.”

Mining rates are still the “single biggest issue” at Detour Lake, Haywood Securities analyst Kerry Smith argues. “Detour needs to address this consistent mining deficit. The mine was targeting to exit 2016 at 275,000 tonnes per day, and it looks unlikely at this point.”

Mining rates averaged 256,000 tonnes per day in the third quarter, unchanged from the same period last year, as heavy rains in August flooded the pit and delayed access to the higher-grade Calcite zone.

After this, the firm sliced its 2016 guidance in September to 525,000 to 545,000 oz. — its second reduction this year.

In 2017, Detour is guiding mining rates of 250,000 to 270,000 tonnes per day, or 92 million to 102 million tonnes per year. To help achieve these rates, it aims to add equipment to the ancillary and ore rehandling fleets, as well as improve efficiency of the haulage fleet.

Detour estimates higher site costs next year, including operating and sustaining capital. Costs should come in $75 million above the $640-million LOM estimate.

The increase includes $45 million of accelerated capital, $10 million for a ROM fleet and $20 million for an accounting charge to process 2 million tonnes of medium-grade, stockpiled ore.

Expected 2017 all-in sustaining costs are US$1,050 to US$1,150 per oz., up 8% to 12% from 2016’s revised guidance.

The preliminary 2017 outlook does not include processing medium or low-grade fines. Detour aims to process 400,000 tonnes of stockpiles — screened at minus 2 inches — by the end of December. Preliminary tests have shown screening increases the stockpile grade. The results, expected by year-end, will determine the costs of incorporating the fines into the mine plan and possibly using the by-product to build road and tailings construction, Gaborit says.

West Detour delay Detour anticipates gold production in 2018 of 600,000 to 670,000 oz., compared to the LOM plan of 658,000 ounces. The forecast

LOWER DRILLING PRODUCTIVITY AND EQUIPMENT AVAILABILITY ISSUES IN THE FIRST QUARTER LOWERED MINING RATES IN THE PIT. depends on Detour’s progress in 2017. It also excludes the 13,000 oz. previously expected from the West Detour pit, which sits 1 km west of Detour Lake.

The exclusion comes after Detour reported one of its aboriginal partners recently elected a new chief and council that would need time to get familiar with the West Detour project, which could delay the environmental assessment that was slated for year-end.

Detour is evaluating several scenarios on how a delay from three months to a year could affect West Detour’s start-up and costs.

“We have to do our homework and look at all those cases,” Gaborit says. Detour aims to make the delay as short as possible, she adds. The company should release more details

with its finalized 2017 guidance.

Third-quarter financials Detour Lake churned out 127,758 oz. at all-in sustaining costs of US$1,042 per oz. in the September quarter.

Output was above the company’s quarter guidance range of 120,000 ounces.

Haywood’s Smith had projected output of 145,000 oz. at all-in sustaining costs of US$900 per ounce.

Production and costs missed targets due to several factors, including an eight-day plant shutdown; pit flooding that restricted access to higher-grade ore; and limited material movement over the year versus budget, which lowered bench development, he says.

Revenue grew 7% year-over-year to US$152 million, as Detour sold 113,845 oz. gold at a realized price of US$1,281 per ounce. However, compared to the first two quarters of 2016, revenue dipped due to lower sales despite higher realized gold prices.

Cash flow from operations before working capital changes was US$47.9 million — or US27¢ per share in the third quarter — missing average analysts’ estimates of US34¢ per share.

Adjusted earnings were US$1.3

million, or a cent per share, below the US3¢ per share that analysts had expected. Detour reported a net loss of US$13.3 million, or US8¢ per share, a year ago.

Analyst reactions After Detour’s third-quarter financials, lower production outlook and uncertainty at West Detour, many analysts cut their price targets.

Raymond James analyst Phil Russo says the lower guidance could hurt Detour’s free cash flow

by US$166 million in 2017, and US$69 million in 2018. Despite the decline, Russo says the company’s balance sheet is strong, with cash and short-term investments of US$116 million at the end of September. He trimmed his $38.50 target to $35 per share, while keeping an “outperform 2” rating.

Macquarie Research analyst Michael Siperco lowered his target to $33 from $43, citing lower nearterm cash flow forecasts. He kept his “outperform” rating, similar to BMO analyst Brian Quast, who cut his target price to $36 from $43. Haywood’s Smith slashed his $49 target to $38, but Smith has a “buy” rating.

Detour shares closed Nov. 4 at $20.69, down 21% since Nov. 1. TNM

Metanor eyes 2017 restart at Barry METANOR From 7

— a brownfield discovery located 1 km south of the mine. Over 30,000 metres have been drilled, with 90% in the South zone area, where results vary between 1.1 and 6.1 grams gold over 0.5 to 9.4 metres.

The company has since paused drilling at Moroy, pending new structural interpretations, and turned to Barry instead, where mineralization is more of a bulktonnage target.

Barry saw production of 607,000 tonnes at 2.45 grams gold for 44,000 oz. gold between 2008 and 2010, before the company suspended the operation due to declining gold prices.

A resource update at Barry in September pegged the deposit’s open pit material at 2.5 million measured and indicated tonnes of 1.52 grams gold, and 1.2 million inferred tonnes of 2.69 grams gold, assuming 0.66

1 2 3 4 5 7 8 9 10 16_Nov 21_Main .indd 8

gram gold.

The resource was delivered alongside the project’s maiden preliminary economic assessment, which envisages production of 193,457 oz. gold over a nine-year mine life with an $8.5-million capital start-up. The open-pit operation has an after-tax net present value — at a 6% discount rate — of $25.9 million, and would have a 94% after-tax internal rate of return, assuming $1,560 per oz. gold.

The ore would be trucked and processed at Bachelor’s 1,200-tonneper-day mill, which Perry says won’t feed into Sandstorm’s share of the gold.

“Barry is the big cash horse for our company, because there’s no stream on it,” he says. “Since we’ve shut the operation down we’ve learned a lot.

Gold prices have gone back up, we can truck the ore cheaper and we have more experience on cutting costs. Plus Barry’s ore is much softer than Bachelor’s, so we can increase

our throughput.”

While Metanor plans to produce at Barry in the second half of next year, the company has begun to assess the Moss target, 6 km northeast of Barry, where recent drill intercepts of 2.2 metres of 9.29 grams gold and 2.6 metres of 70.9 grams gold were found close to a regional structure.

The structure can be traced from Barry, through to Moss and onwards to Osisko Mining’s (TSX: OSK; US-OTC: OSKFF) Windfall deposit, where resources add up to 2.8 million indicated tonnes of 8.42 grams gold and 3.5 million inferred tonnes of 7.62 grams gold.

On a larger scale, the deposits fall along a southwest-trending splay off a regional, east- to west-trending structure in the Urban-Barry greenstone belt.

Pascal Hamelin, vice-president of operations, told The Northern Miner during a phone interview that the geology at Windfall is similar

“FOR THE PAST FOUR YEARS WE’VE BEEN IN A POSITION OF WEAKNESS ...

BUT WITH BARRY, WE CAN FINALLY MOVE INTO A POSITION OF STRENGTH.” RONALD S. PERRY VICE-PRESIDENT AND TREASURER, METANOR RESOURCES

to what the company’s geologists see at Moss.

“Osisko has been hitting gold right against the fault … and their high grades occur with disseminated pyrite in felsic rocks,” Hamelin says. “On the Moss property we’re

seeing the same thing. That’s why we drilled it, and we hit high grades right away.”

Hamelin noted that previous explorers who drilled Moss found “traces of gold,” but drilled too far south or north, and missed the main vein.

For Perry, Moss presents an opportunity for Metanor, and makes the prospect of mining Barry all the more attractive.

“We’re in a jigsaw puzzle with Osisko. We’re surrounded on three sides by their properties and we think our piece of the puzzle is quite interesting, so we’re excited,” he says.

“Our company is about to make a big move, because what we have is a great value play that’s about to get uncovered.”

Metanor has traded in a 52-week range of 3¢ to 12¢ per share, and closed at 8¢ at press time. There are 438.8 million shares outstanding for a $35-million market cap. TNM

2016-11-15 5:33 PM

THE ABITIBI

GLOBAL MINING NEWS

THE NORTHERN MINER / NOVEMBER 21–27, 2016

9

ABITIBI SNAPSHOT: FIVE COMPANIES TO WATCH Historic camps create opportunities The renewed strength in gold prices this year has reinvigorated the historic mining camps throughout the Abitibi region of Ontario and Quebec. Here’s a look at what a few Canadian companies are up to.

AGNICO EAGLE MINES Over the past two decades Agnico Eagle Mines (TSX: AEM: NYSE: AEM) has grown from a small single asset producer to a senior gold producer, with eight mines in three countries.

But the heart of the company remains its cluster assets in and around the area between RouynNoranda and Val-d’Or in Quebec’s portion of the Abitibi.

In particular, its flagship LaRonde mine has produced over 5 million oz. gold since 1988 and remains a star performer, churning out 267,921 oz. gold, 916,000 oz. silver, 3,501 tonnes zinc and 4,941 tonnes copper last year at a US$590 per oz. cash cost. With a deepening project achieving commercial production in 2011, LaRonde has a mine life until at least 2024, with current reserves.

Its Canadian Malartic (co-owned fifty-fifty with Yamana Gold) is one of Canada’s largest gold mines, producing 571,618 oz. gold and 600,000 oz. silver in 2015 on a 100% basis.

Agnico also has its reopened Goldex mine, where production from deeper levels is expected from 2018 through 2024.

Agnico’s Lapa mine is nearing the end of its life this quarter, but the

Agnico Eagle Mines’ La Ronde gold-silver mine in northwestern Quebec. AGNICO EAGLE MINES company is looking at ways to extend production into 2017.

precious and base metal properties in the Abitibi greenstone belt.

GOLDEN VALLEY MINES

In particular, Golden Valley owns 5.6 million shares, or 49.4% of Abitibi Royalties (TSXV: RZZ), which owns royalties on parts of the Canadian Malartic mine, including a 3% net smelter return royalty on Odyssey North, where a resource calculation is expected by early next year. Golden Valley also owns 4.1 million shares of Sirios Resources (TSXV: SOI), which is exploring its Cheechoo gold project in Quebec’s James Bay region, and has an active joint venture with BonTerra Resources (TSXV: BTR) at the Lac Barry in Quebec.

Glenn Mullen-led Golden Valley Mines (TSXV: GZZ) has an intriguing asset mix of shares in other leading juniors and a portfolio of grassroots

The one-year stock chart for Golden Valley heartens shareholders, with prices climbing steadily from 9¢ in February to today’s levels above 30¢, for a $35-million market capitalization.

KIRKLAND LAKE GOLD

Sirios Resources’ president CEO Dominique Doucet (centre) examines core at the Cheechoo gold property in Quebec’s James Bay region. SIRIOS RESOURCES

Published by:

Kirkland Lake Gold (TSX: KLG) is an established intermediate gold producer with assets in the Kirkland Lake gold camp and east of the Timmins gold camp, both in the Lower Abitibi greenstone belt. The company operates the

Macassa gold mine complex as well as the Holt, Holloway and Taylor mines, and has guided 2016 production at 270,000 to 290,000 oz. gold.

on its gold projects in Ghana, and is now reviewing what to do with its “legacy exploration projects” in Ontario’s Timmins, Red Lake and Hemlo camps.

Kirkland Lake Gold also owns five former high-grade gold mines in the Kirkland Lake camp and controls a 120 km strike length along the prolific Porcupine-Destor fault zone.

In the Timmins area, Pelangio has two gold prospects — Poirier Gold and Thunder Gold — within a 1.5 km radius of Tahoe Resources’ Lakeshore gold mine headframe.

However, the excitement around Kirkland Lake these days is all about mergers and acquisitions. At press time, Gold Fields and Silver Standard Resources had each made informal $1.4-billion unsolicited share-and-cash bids for Kirkland Lake, which were rejected.

Instead, Kirkland Lake is urging its shareholders to recommit to the company’s existing proposal to merge with Australian gold miner Newmarket Gold, and create a company with a $2.4-billion market capitalization that would produce 500,000 oz. gold annually at seven mines and five mills in Canada and Australia.

PELANGIO EXPLORATION Ingrid Hibbard’s Pelangio Exploration (TSXV: PX) is focused

TAHOE RESOURCES Tahoe Resources (TSX: THO; NYSE: TAHO) is one of the newest entrants to the Abitibi greenstone belt, with its April 2016 takeover of Lake Shore Gold and its Timmins West mine, and Bell Creek complex.

Tahoe reported in November that its Bell Creek shaft project is “off to an excellent start,” with the first vertical raise started near the end of the third quarter. Tahoe calls the shaft project “a key component of our growth program” that would add 40,000 oz. of new gold production annually starting in 2018.

Tahoe Resources operates in three countries — Guatemala, Peru and Canada — with five operating mines, and many exploration projects. TNM

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NOVEMBER 21–27, 2016 / THE NORTHERN MINER

THE ABITIBI

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Kinross expands its reach in the Abitibi EXPLORATION

| Gold major acquires 100% of Yorbeau Resources’ Rouyn project “IT WAS IMPORTANT FOR KINROSS TO BE IN GOLD COUNTRY, AND THE CADILLAC BREAK CERTAINLY IS IN GOLD COUNTRY.”

BY TRISH SAYWELL

T

tsaywell@northernminer.com

he Cadillac-Larder Lake break in Canada’s well-known Abitibi greenstone belt has produced more than 100 million oz. gold from mines such as Lakeshore, Macassa, Kerr-Addison, Doyon, Bousquet, LaRonde, East-Malartic, Kiena and Sigma-Lamaque.

Kinross Gold (TSX: K; NYSE: KGC) used to operate the Macassa mine in Kirkland Lake, and is now jumping back into the district.

The gold major — with mines in the Americas (U.S., Brazil and Chile), West Africa and Russia — signed an agreement in October to acquire a 100% interest in Yorbeau Resources’ (TSX: YRB.A) Rouyn project, 4 km south of RouynNoranda, in southwestern Quebec.

The project contains three gold deposits and a fourth mineralized zone that cover 12 km of the Cadillac-Larder Lake break, the major fault zone that extends more than 250 km west from Kirkland Lake in Ontario, east of Val-d’Or, Quebec.

“Kinross wants to get established.

They want to get a good property in Quebec, and for them the Cadillac break is one of the better known structures, and has a good record of production and discovery,” Gérald Riverin, Yorbeau’s president, says in an interview.

“They like the 12 km strike length and the results we have had so far, and the fact that all of these prospects — all of these deposits — are open at depth, and that’s where they will start their drilling, extending the known deposits at depth, to see if they can get the threshold they need to get a mine.”

Kinross is the second gold major to sign an option deal on the Rouyn project. Gold Fields (NYSE: GFI) signed an option deal of its own in 2012, but dropped it in June 2014 after spending $4 million on drill-

GÉRALD RIVERIN PRESIDENT, YORBEAU RESOURCES

The Augmitto headframe on Yorbeau Resources’ Rouyn gold property, 4 km south of Rouyn-Noranda, Quebec. YORBEAU RESOURCES

ing and cash payments to Yorbeau.

“With what we had drilled, we were able to attract Gold Fields, and they were quite keen to get going,” Riverin says. “But then their new CEO decided there was no greenfield exploration for them worldwide, including Rouyn. It was a big disappointment, but sometimes that happens.”

Gold Fields’ loss is Kinross’ gain, Riverin argues, noting that there is a lot of exploration upside on the property where the three known

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deposits (Astoria, Augmitto and Gamble Lake) have been drilled to 700 metres deep, and remain open.

In addition to the deposits, the project has an interesting mineralized zone called Cinderella.

Riverin notes that the Rouyn project is 40 to 50 km east of the Kerr-Addison mine, which produced 11 million oz. gold. “Rouyn is exactly the same environment as Kerr-Addison,” he says. “It’s in ultramafic rocks and so on, and that’s the biggest mine closest to us.”

Louie Diaz, director of corporate communications at Kinross, wrote in an email to The Northern Miner that the company optioned the Rouyn property “for the exploration potential.”

He adds that “the property covers a prospective 12 km segment of the Cadillac-Larder Lake break in the Abitibi greenstone belt … it hosts at least three known gold deposits, all of which are open at depth. This deal is consistent with our strategy of maximizing exposure to promising greenfield opportunities, in quality jurisdictions, through agreements with junior exploration companies.”

Under the agreement, Kinross can earn an option to buy 100% of the property if it spends $12 million on exploration over four years, and completes a resource estimate. (Of the $12 million, $6 million must be spent on diamond drilling. And of that, $3 million must be spent in the first 18 months, including drilling no less than 12,500 metres.)

Once a resource is completed, Kinross has the option to acquire 100% of Rouyn for US$25 million in cash, plus 2% of the prevailing gold price multiplied by the number of ounces in measured, indicated and inferred resources outlined in the resource estimate.

In addition, Yorbeau has a 2% net smelter return royalty (NSR) on any ounces produced at Rouyn in excess of the number of ounces Kinross identified in the resource estimate.

Yorbeau first gained a foothold

in the area in 1984, when it acquired the Astoria property, and conducted extensive surface and underground exploration there over the next decade.

With the help of early joint-venture partners (Les Mines Belmoral and Deak Resources), a 515-metre shaft was sunk and lateral workings were developed over six years starting in 1984.

A total of 163,000 tonnes were mined at Astoria between 1986 and 1995, at a head grade of 5.32 grams gold per tonne.

Mining was intermittent, however, and the operation was shut down due to low gold prices.

In January 2005, P&E Mining Consultants prepared a resource estimate for Astoria at a cut-off grade of 3 grams gold per tonne, which showed an undiluted, open-pit measured and indicated resource of 770,000 tonnes grading 2.57 grams gold per tonne, and an underground measured and indicated resource of 1.97 million tonnes grading 4.51 grams gold for a total of 349,100 oz. gold.

Undiluted inferred resources amenable to open-pit and underground mining at Astoria totalled 14,000 tonnes grading 2.29 grams gold and 385,000 tonnes grading 4.83 grams gold, for another 60,800 oz. gold.

In 1997, Yorbeau acquired the Augmitto deposit, 6 km from Astoria, where extensive surface diamond drilling in the 1980s led to underground development and preproduction work. The work included developing a 1.2 km exploration ramp, a 250-metre shaft, a ventilation raise and extensive drifting on several levels.

A resource estimate for Augmitto

by Roscoe Postle Associates in 2011 outlined a measured and indicated resource of 247,000 tonnes averaging 6.1 grams gold for 48,200 contained oz. gold, and inferred resources of 633,000 tonnes grading 7.8 grams gold for 159,000 contained oz. gold.

The resource estimate used a cut-off grade of 3.4 grams gold per tonne.

Since that resource was completed, drilling at Augmitto has returned intercepts such as 7 metres at 7.9 grams gold and 5.3 metres at 11.4 grams gold.

Yorbeau discovered two deposits of its own in 2008 and 2009: Gamble Lake, 1 km west of Astoria; and Cinderella, 1.5 km west of Gamble Lake.

Highlights from drilling at Gamble Lake include an 11.3-metre intercept of 6 grams gold. At Cinderella, intercepts include 13 metres of 5.4 grams gold and 9 metres of 6.6 grams gold.

Yorbeau’s Riverin says both Astoria and Gamble Lake will be drill tested “very shortly,” while “they have already planned their drill program, and the permitting is done.

“We’re happy and we hope they’re happy,” he says. “The property will finally get a chance to be explored.

“It was important for Kinross to be in gold country,” he adds, “and the Cadillac break certainly is in gold country.” TNM

A tunnel in Kirkland Lake Gold’s Macassa gold mine, which Kinross Gold operated until 1999. KIRKLAND LAKE GOLD

2016-11-15 5:33 PM

GLOBAL MINING NEWS · SINCE 1915

THE NORTHERN MINER / NOVEMBER 21–27, 2016

11

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

SPOT PRICES COURTESY OF SCOTIABANK Tuesday, November 15, 2016 Precious Metals Price (US$/oz.)

Change 1228.90 -55.10 Gold Silver $17.00 -1.26 Platinum $940.00 -49.00 Palladium $677.00 +52.00 Base Metals Nickel Copper Lead Zinc

Price (US$/tonne) Change $11175.00 -70.00 $5436.00 -118.50 $2185.00 -9.00 $2585.50 -20.50

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, November 14, 2016 (change from November 7, 2016 in brackets): Aluminium Alloy 13680 (0) 2098950 (-26850) Aluminium Copper 266150 (-32250) 187325 (-625) Lead Nickel 365502 (+2340) 3140 (+210) Tin 446350 (-2700) Zinc

Thermal Coal CAPP: US$40.00 per short ton Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$45.05 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$9.00 Coal: CME Group Central Appalachian Futures, Dec. 2016: US$40.00 Cobalt: US$13.38/lb.

Copper: US$2.55/lb.

Copper: CME Group Futures Dec. 2016: US$2.482/lb.; Jan. 2017: US$2.483/lb Ferro-Chrome: US$1.85/kg Ferro Titanium: US$3.87/kg FerroTungsten: US$24.04/kg Ferrovanadium: US$16.01/kg Iridium: NY Dealer Mid-mkt US$675.00/tr oz.

Iron Ore 62% Fe CFR China-S: US$79.70/tonne Iron Ore Fines: US$52.54/tonne Iron Ore Pellets: US$72.61/tonne Lead: US$0.98/lb.

Magnesium: US$2.04/kg Manganese: US$1.68/kg Molybdenum Oxide: US$6.92/lb.

Phosphate Rock: US$111.00/tonne Potash: US$220.00/tonne Rhodium: Mid-mkt US$815.00/tr. oz.

Ruthenium: Mid-mkt US$40.00/tr. oz.

Silver: Handy & Harman Base: US$16.86 per oz.; Handy & Harman Fabricated: US$21.08 per oz.

Tantalite Ore : US$128.61/kg Tin: US$9.70/lb.

Uranium: U3O8, Trade Tech spot price: US$18.75; The UX Consulting Company spot price: US$18.75/lb.

Zinc: US$1.15/lb.

Prices current Nov. 15, 2016

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of Oct 17, 2016 (with changes from Oct 03, 2016) Largest short positions LUN 41034128 104894 10/3/2016 Lundin Mng Potash Corp SK POT 38533481 3520113 10/3/2016 Kinross Gold K 34358723 956689 10/3/2016 B2Gold BTO 23802732 -305090 10/3/2016 NGD 23165061 80916 10/3/2016 New Gold Eldorado Gold ELD 19412543 183157 10/3/2016 Teranga Gold TGZ 17781110 -137117 10/3/2016 Centerra Gold CG 14676144 234119 10/3/2016 SU 12784446 -130372 10/3/2016 Suncor Energy Sandstorm Gold SSL 12047176 270484 10/3/2016 TCK.B 10897100 -601765 10/3/2016 Teck Res First Quantum FM 10424016 29172 10/3/2016 IAMGOLD IMG 9942624 2387501 10/3/2016 Goldcorp G 9211432 495492 10/3/2016 AR 8738596 79524 10/3/2016 Argonaut Gold Largest increase in short position Potash Corp SK POT 38533481 3520113 10/3/2016 IAMGOLD IMG 9942624 2387501 10/3/2016 KDX 8357884 1589468 10/3/2016 Klondex Mines Argex Titanium RGX 2248200 1358900 10/3/2016 IVN 5727187 959459 10/3/2016 Ivanhoe Mines Largest decrease in short position NovaGold Res NG 2732689 -1229297 10/3/2016 Orbite Tech ORT 485908 -1042884 10/3/2016 FCU 1387262 -861676 10/3/2016 Fission Uran Teck Res TCK.B 10897100 -601765 10/3/2016 OceanaGold OGC 5921185 -582274 10/3/2016

Short positions outstanding as of Oct 17, 2016 (with changes from Oct 03, 2016) Largest short positions GSV 3467942 3033800 10/3/2016 Gold Std Vents Rye Patch Gold RPM 2860110 1501337 10/3/2016 First Mg Fin FF 1695000 -180600 10/3/2016 Brazil Res BRI 1275000 68900 10/3/2016 ALG 313342 180642 10/3/2016 Algold Res Bear Creek Mng BCM 271049 75759 10/3/2016 247200 226600 10/3/2016 Castle Mtn Mng NCA Mason Graphite LLG 223500 -17900 10/3/2016 K92 Mng Inc KNT 217300 -18200 10/3/2016 Nexus Gold NXS 200000 146900 10/3/2016 SOI 165400 139400 10/3/2016 Sirios Res True North Gem TGX 148000 148000 10/3/2016 Roxgold ROG 146281 -300466 10/3/2016 Critical Elem CRE 116291 112791 10/3/2016 Integra Gold ICG 94241 -1577391 10/3/2016 Largest increase in short position Gold Std Vents GSV 3467942 3033800 10/3/2016 Rye Patch Gold RPM 2860110 1501337 10/3/2016 Castle Mtn Mng NCA 247200 226600 10/3/2016 Algold Res ALG 313342 180642 10/3/2016 TGX 148000 148000 10/3/2016 True North Gem Largest decrease in short position Focus Graphite FMS 1863 -2617306 10/3/2016 Integra Gold ICG 94241 -1577391 10/3/2016 2000 -590800 10/3/2016 Monument Mng MMY Roxgold ROG 146281 -300466 10/3/2016 IPT 27400 -294894 10/3/2016 IMPACT Silver

DAILY METAL PRICES Daily Metal Prices Date Nov 14 Nov 11 Nov 10 Nov 9 Nov 8 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) Al Alloy 1510/1520 1585/1590 1560/1570 1550/1570 1555/1570 Aluminum 1764/1753.50 1775.50/1778 1772/1772.50 1736.50/1738.50 1705.50/1714 Copper 5619.50/5626 5899.50/5908 5618/5634 5334/5351 5043/5064 Lead 2150/2156 2150.50/2163 2154/2168 2126/2140 2072.50/2092 Nickel 11130/11175 11730/11760 11700/11710 11445/11480 11135/11175 Tin 21370/21225 21725/21555 21900/21675 21695/21550 21940/21745 2538/2554 2527.50/2541 2531/2546 2451.50/2465 2443/2455 Zinc PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.)

Gold AM 1286.80 1301.70 1293.00 1295.85 1284.40 Gold PM 1283.05 1302.80 1301.00 1303.75 1288.45 Silver 18.22 18.30 18.07 18.54 18.24 Platinum 995.00 1003.00 986.00 994.00 995.00 Palladium 632.00 625.00 627.00 635.00 631.00

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

TSX WARRANTS

Nov 11 Nov 10 Nov 09 Nov 08 Nov 07 1.3541 1.3469 1.3424 1.3289 1.3363 0.7385 0.7427 0.7449 0.7525 0.7483

Exchange rates (Quote Media, November 11, 2016) C$ to EURO C$ to YEN C$ to Mex Peso C$ to SA Rand C$ to AUS 0.9788 0.6802 78.7675 15.4071 10.5858 C$ to India Rupee C$ to Swiss Franc C$ to S. Korea Won C$ to UK Pound C$ to China Yuan 0.5862 5.0300 49.8970 0.7297 861.7270 US to AUS US to EURO US to YEN US to Mex Peso US to SA Rand 1.3254 0.9212 106.6560 20.8593 US to UK Pound US to China Yuan US to India Rupee US to Swiss Franc US to S. Korea Won 0.7937 6.8151 67.5540 0.9880 1164.9100

Alamos Gold (AGI.WT) - Wt buys sh @ $28.47 to Aug 30/18 Alamos Gold (AGI.WT.A) - Wt buys sh @ $10.00 to Jan 7/19 Coeur Mining (CDM.WT) - Exercisable on a cashless basis. See TSX Bulletin 2013-0377 for calculation. To Apr 16/17 Continental Gold Inc. (CNL.WT.A) - Wt buys sh @ $4.75 to Nov 26/17 Dalradian Resources (DNA.WT.A) - Wt buys sh @ $1.5 to Jul 31/17 Excellon Resources Inc (EXN.WT) - Wt buys sh @ $1.75 to Jul 26/18 Franco Nevada (FNW.WT.A) - Wt buys sh @ $75 to Jun 16/17 GoGold Resources Inc. (GGD.WT) - Wt buys sh @ $1.7 to Jun 7/18 Golden Queen Mining Co (GQM.WT) - Wt buys sh @ $2 to Jul 25/19 Gran Colombia Gold (GCM.WT.A) - Wt buys sh @ $3.25 to Mar 18/19 HudBay Minerals (HBM.WT) - Wt buys sh @ $15 to Jul 20/18 Lithium Americas Corp (LAC.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry Lydian International Limited (LYD.WT) - One Warrant to purchase one additional ordinary share of the Issuer at $0.36 per share until expiry MBAC Fertilizer (MBC.WT) - Wt buys sh @ $1 to Apr 17/19 Nemaska Lithium Inc (NMX.WT) - Wt buys sh @ $1.5 to Jul 8/19 New Gold A J (NGD.WT.A) - Wt buys sh @ $15 to Jun 28/17 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) - Wt buys sh @ $3 to Sep 14/17 Oban Mining J (OBM.WT) - Wt buys 20 sh @ $3 to Aug 25/18 Osisko Gold Royalties (OR.WT) - Wt buys sh @ $36.5 to Feb 18/22 Osisko Gold Royalties (OR.WT.A) - Wt buys sh @ $19.08 to Feb 26/19

Osisko Mining Inc. J (OSK.WT) - 20 Wt buys sh @ $3 to Aug 25/18 Primero Mining Corp (P.WT.C) - Wt buys sh @ $3.35 to Jun 24/18 Quest Rare Minerals (QRM.WT) - Wt buys sh @ $0.4 to Jul 17/17 RTG Mining (RTG.WT) - Wt buys sh @ $1.5 to Jun 04/17 Sandstorm Gold (SSL.WT.A) - Wt buys sh @ US$4 to Oct 19/15 (SSL.WT.B) - Wt buys sh @ US$14 to Sep 07/17 Sandstorm Gold (SSL.WT.A) - Wt buys sh @ US$5 to Oct 19/15 (SSL.WT.B) - Wt buys sh @ US$14 to Sep 07/17 Sandstorm Gold (SSL.WT) - Wt buys sh @ US$4 to Nov 3/20 (SSL.WT.B) - Wt buys sh @ US$14 to Sep 07/17

TSX VENTURE WARRANTS Atlantic Gold (AGB.WT) - Wt buys sh @ $0.6 to Aug 20/18 Brazil Resources (BRI.WT) - Wt buys sh @ $0.75 to Dec 31/18 Cornerstone Capital Resources (CGP.WT.S) - Wt buys sh @ $0.35 to Apr 07/19 Desert Star Resources Ltd (DSR.WT) - Wt buys sh @ $0.25 to Jun 05/17 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 Mission Gold (MGL.WT) - Wt buys sh @ $0.17 to Sep 13/17 Monarques Gold (MQR.WT.A) - Wt buys sh @ $0.18 to Dec 15/17 Sunridge Gold (SGC.WT) - Wt buys sh @ $0.35 to Oct 18/17 West African Resources (WAF.WT) - Wt buys sh @ $0.4 to Jan 17/17 West Kirkland Mining (WKM.WT) - Wt buys sh @ $0.3 to Apr 17/19

NORTH AMERICAN STOCK EXCHANGE INDICES

52-week

Index Nov 11 Nov 10 Nov 09 Nov 08 Nov 07 High Low S&P/TSX Composite 14555.41 14744.25 14759.91 14656.84 14652.45 15527.30 12400.15 S&P/TSXV Composite 727.91 743.63 753.20 756.85 757.87 1050.26 883.52 S&P/TSX 60 858.90 869.09 868.25 862.06 861.32 896.74 709.99 S&P/TSX Global Gold 191.13 205.82 221.47 215.85 218.81 218.90 149.29

NEW 52-WEEK HIGHS AND LOWS NOVEMBER 7–11, 2016 102 New Highs Advantage Lith Agrium Alberta Star* Alliance Res* Almadex Min Almadex Min* Alumina Inc* Am Manganese Am Manganese* Anglo American* Antioquia Gold Antioquia Gold* Antofagasta* Argo Gold Arizona Mng* Atom Energy * AZ Mining Bearing Res Canadian Zeol Canadian Zeol* Capstone Mng Carlin Gold Cartier Res Champion Iron Champion Iron* Chevron* Cloud Peak En* Colibri Res* Copper Mtn Mng

Copper Mtn Mng* EurOmax Res Excelsior Mng Excelsior Mng* Falcon Gold First Quantum Fortescue Mtls* Four River Freeport McMo* G4G Capital Getty Copper Giyani Gold Giyani Gold* Glencore Plc* Gold Torrent* Goldex Res* Gonzaga Res Gravis Energy Hawkeye Gld&Di Hecla Mining* HudBay Mnls HudBay Mnls* Ivanhoe Mines Ivanhoe Mines* JDL Gold* Jet Gold Kincora Copper Kincora Copper* Lovitt Res Luna Gold Luna Gold*

Lundin Mng Magnus Intl* MartinMarietta* Mechel* Metallic Mnrls Metallic Mnrls* Mineral Res* Morien Res* NACCO Ind* Natural Res Pt* Nevada Clean M* Nomad Ventures Parlane Res Petra Diamonds* Playfair Mng* PNG Gold Prospero Silvr* Radisson Mng Rainy Mtn Royl Rambler Ml &Mg Revelo Res Rio Tinto* Riverside Res Riverside Res* RJK Explor* Samex Mng* SinoCoking Cl* Southern Copp* Stratabd Mnr Tajiri Res Teck Res

Teck Res* Trevali Mng Vale* Vangold Res Vedanta* Walker River Walter Energy* Waseco Res Wescan Gldflds Westmoreland* Yorbeau Res

46 New Lows Altan Rio Mnls Am CuMo Mng Avnel Gold Baroyeca Go&Si Besra Gold* Big Bar Res Black Dragon Bravura Vent * Buffalo Coal * Cobalt Pwr Grp Comstock Mng* eCobalt Solns* Energy Fuels Ethos Gold First Cobalt Fission Uran Fission Uran* GoviEx Uranium Green Swan Cap

Horizon Mnls* Intact Gold* Ireland* IsoEnergy Ltd Kesselrun Res Lithium Amer* Luna Gold* Medallion Res* Metalex Vent MGX Minerals* Millennial Lit* Montego Res Osisko Gold* Paladin Energy Primero Mng Primero Mng* Red Eagle Mng Sonoro Mtls Tango Mining Tudor Gold * TVI Pacific Ultra Lithium* Vanstar Mng Rs Walker River* West Red Lake* Western Potash Xtierra

CANADIAN GOLD MUTUAL FUNDS Fund Nov 11 ($) Nov 04 ($) Change ($) Change (%) YTDChange (%) MER (%) TotalAssets (M$) AGF Prec Mtls Fd MF 23.17 26.98 -3.81 -14.12 78.59 2.78 195.28 BMO Prec Mtls Fd A 18.42 21.32 -2.90 -13.62 78.53 2.40 76.96 BMO ZGD 9.59 11.43 -1.84 -16.12 73.01 0.63 34.26 8.08 9.62 -1.54 -15.97 89.46 0.60 89.10 BMO ZJG CIBC Prec Metal Fd A 10.42 12.33 -1.92 -15.53 50.08 2.62 61.43 Dyn Prec Metls Fd A 6.81 8.13 -1.32 -16.24 100.25 2.75 496.12 Horizons HEP 28.68 -2.71 -9.37 64.28 0.81 IGMacGloPrecMetCl A 8.70 9.98 -1.28 -12.80 92.45 2.76 99.82 iShares XGD 14.22 -1.49 -10.36 73.35 0.61 736.25 Mac Prec Met Cl A 49.16 56.57 -7.42 -13.11 95.97 2.51 136.89 NB Prec Met Fd Inv 12.13 14.40 -2.27 -15.76 81.07 2.46 41.82 RBC GblPreMetFd A 31.38 36.93 -5.55 -15.03 90.50 2.12 459.16 Redw UITGoDe&ProCl A 10.00 Sentry Pre Met Fd A 38.79 46.01 -7.22 -15.70 92.41 2.90 262.61 Sprott Gold&PrMinFdA 36.15 42.63 -6.48 -15.19 82.00 3.19 277.19 6.58 7.68 -1.10 -14.31 127.98 3.23 102.10 Sprott SilverEquCl A TD PreciousMetalsInv 35.45 42.24 -6.79 -16.07 74.24 2.26 163.65

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

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

11_Nov21_MMMM.indd 11

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

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

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

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

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

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

2016-11-15 3:05 PM

12

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: NOVEMBER 7–11, 2016 (100s) Stock

WWW.NORTHERNMINER.COM

NOVEMBER 21–27, 2016 / THE NORTHERN MINER

Week

12-month

Exc Volume High Low Last Change High Low

A 92 Resources V 3254 0.22 0.14 0.16 - 0.05 0.28 0.03 Abacus Mng &Ex V 3057 0.05 0.04 0.05 + 0.01 0.07 0.04 Abcourt Mines* O 32 0.07 0.05 0.05 - 0.02 0.10 0.02 Abcourt Mines V 1964 0.09 0.07 0.07 - 0.02 0.13 0.04 Aben Res* O 152 0.07 0.07 0.07 - 0.00 0.26 0.03 Aben Res V 891 0.10 0.00 0.09 - 0.01 0.34 0.06 Aberdeen Intl* O 58 0.11 0.00 0.11 - 0.00 0.16 0.07 Aberdeen Intl T 582 0.16 0.15 0.15 + 0.01 0.24 0.10 Abitibi Royalt V 43 9.76 8.25 8.35 - 1.42 10.00 2.34 ABT Holdings* O 32 0.69 0.20 0.69 + 0.43 0.76 0.05 0.07 - 0.02 0.15 0.01 Adamera Mnls V 872 0.08 0.07 Adamera Mnls* O 68 0.07 0.00 0.04 - 0.00 0.12 0.01 Advantage Lith V 1081 1.24 0.97 1.14 + 0.10 1.24 0.14 Advantage Lith* O 719 0.93 0.72 0.81 + 0.03 1.00 0.49 0.05 - 0.01 0.08 0.01 Afrasia Mnls V 205 0.06 0.00 African Gold V 1284 0.09 0.07 0.07 - 0.02 0.12 0.03 African Queen V 68 0.04 0.00 0.04 - 0.01 0.14 0.02 Agave Silver* O 16 0.07 0.07 0.07 - 0.01 0.12 0.01 0.08 - 0.01 0.15 0.02 Agave Silver V 99 0.09 0.08 Agnico Eagle T 4858 70.10 56.46 57.19 - 12.07 78.35 33.04 Agnico Eagle* N 15263 52.17 41.68 42.24 - 9.44 60.10 24.80 T 1641 133.63 120.64 132.55 + 12.66 133.63 104.70 Agrium Agrium* N 2612 99.24 90.17 97.85 + 8.34 100.24 79.94 Aim Explor* O 2295 0.01 0.00 0.01 + 0.00 75.00 0.00 Alabama Graph* O 154 0.10 0.09 0.09 - 0.00 0.17 0.08 Alabama Graph V 1829 0.13 0.11 0.12 - 0.02 0.23 0.11 Alacer Gold T 8073 2.88 2.27 2.34 - 0.53 3.79 2.08 T 6097 10.49 8.40 8.60 - 1.82 13.65 3.27 Alamos Gold Alamos Gold* N 14814 7.80 6.21 6.34 - 1.41 10.41 2.27 Alba Minerals V 136 0.17 0.13 0.15 - 0.01 0.19 0.01 Alberta Star* O 17 0.32 0.28 0.30 + 0.02 0.32 0.12 0.07 - 0.01 0.12 0.02 Alchemist Mng 605 0.08 0.07 Alcoa* N 39049 29.99 24.30 29.30 + 4.10 34.50 18.42 Alderon Iron* O 17 0.20 0.15 0.20 + 0.04 0.34 0.05 0.31 + 0.10 0.48 0.07 Alderon Iron T 1833 0.35 0.21 Aldever Res* O 4 0.07 0.00 0.07 - 0.00 0.11 0.06 Aldever Res V 85 0.11 0.00 0.10 - 0.01 0.69 0.09 0.24 - 0.04 0.34 0.12 Aldridge Mnrls V 300 0.29 0.24 Aldrin Res* O 34 0.07 0.07 0.07 - 0.00 0.12 0.06 Alexandria Min V 2033 0.07 0.06 0.06 - 0.01 0.12 0.02 O 133 0.05 0.04 0.05 - 0.00 0.10 0.01 Alexandria Min* Alexco Res* X 4560 1.91 1.51 1.52 - 0.34 2.54 0.22 2.09 - 0.38 3.31 0.35 Alexco Res T 1205 2.53 2.05 Algold Res V 782 0.33 0.26 0.27 - 0.06 0.44 0.07 0.10 + 0.00 0.17 0.07 Alianza Min* O 209 0.10 0.09 Alianza Min V 275 0.13 0.11 0.11 - 0.02 0.21 0.10 Alliance Mng V 1992 0.05 0.03 0.05 + 0.02 0.05 0.01 24.60 + 1.25 26.65 9.95 Alliance Res* D 3644 26.65 21.40 Almaden Mnls T 136 1.88 1.50 1.58 - 0.27 2.44 0.67 Almaden Mnls* X 1573 1.41 1.10 1.17 - 0.22 1.88 0.50 Almadex Min* O 1000 1.51 0.94 0.95 - 0.25 1.51 0.09 Almadex Min V 758 2.00 1.23 1.29 - 0.31 2.00 0.14 Almo Capital V 350 0.14 0.11 0.13 + 0.01 0.18 0.05 0.24 + 0.01 0.44 0.20 Almonty Ind V 159 0.24 0.22 Alset Energy* O 342 0.13 0.09 0.09 - 0.03 0.65 0.01 Alset Energy V 3264 0.18 0.12 0.13 - 0.03 0.84 0.02 Alta Vista Vnt 36 0.06 0.00 0.04 - 0.02 0.25 0.03 50 0.19 0.00 0.18 - 0.01 0.70 0.09 Altair Res Inc V Altan Nev Mnls V 170 0.02 0.01 0.02 + 0.01 0.05 0.01 Altitude Res V 231 0.13 0.09 0.09 - 0.03 0.21 0.02 11.21 - 0.25 12.20 7.39 Altius Mnrls T 225 11.75 11.06 Alto Vent V 32 0.07 0.06 0.06 - 0.01 0.09 0.02 86 0.13 0.09 0.10 - 0.01 0.30 0.06 Altura Mng Ltd* O Alumina Inc* O 305 5.17 4.93 5.07 + 0.43 5.17 2.70 ALX Uranium* O 58 0.06 0.05 0.06 - 0.00 0.10 0.03 Am Creek Res V 122 0.07 0.06 0.07 - 0.01 0.12 0.03 128 0.11 0.00 0.10 + 0.01 0.16 0.06 Am CuMo Mng V Am CuMo Mng* O 16 0.07 0.07 0.07 + 0.00 0.12 0.04 Am Manganese V 25995 0.29 0.16 0.23 + 0.06 0.29 0.01 Am Manganese* O 1205 0.22 0.11 0.17 + 0.05 0.22 0.01 Amador Gold V 5 0.16 0.00 0.14 - 0.02 0.40 0.10 Amarc Res* O 49 0.07 0.05 0.05 - 0.02 0.10 0.02 Amarc Res V 146 0.09 0.07 0.08 - 0.01 0.13 0.04 0.33 + 0.01 0.68 0.04 Amarillo Gold V 258 0.40 0.29 Amazing OG* O 59 0.40 0.31 0.40 + 0.09 1.06 0.30 Amer Intl Vent* O 405 0.04 0.03 0.04 + 0.00 0.10 0.01 Amer Vanadium* O 37 0.01 0.01 0.01 - 0.00 0.07 0.00 0.28 - 0.03 0.48 0.09 Americas Silvr T 3923 0.33 0.27 Americas Silvr* O 1080 0.25 0.20 0.20 - 0.03 0.37 0.04 0.26 + 0.09 0.31 0.10 Amerigo Res T 5279 0.28 0.16 Amerigo Res* O 597 0.20 0.12 0.20 + 0.08 0.20 0.07 Amex Expl V 354 0.04 0.04 0.04 - 0.01 0.08 0.02 Anaconda Mng T 2141 0.07 0.05 0.06 - 0.01 0.11 0.04 Anaconda Mng* O 295 0.05 0.04 0.04 - 0.02 0.09 0.03 Anconia Res V 187 0.05 0.04 0.04 - 0.01 0.09 0.01 Anfield Nickel V 705 1.39 1.30 1.30 - 0.08 1.94 0.52 0.08 + 0.01 0.22 0.06 Anfield Res* O 8 0.08 0.08 Anfield Res V 1284 0.10 0.07 0.08 - 0.01 0.31 0.05 Angel Gold* O 16 0.07 0.00 0.07 - 0.01 0.11 0.01 Angkor Gold V 146 0.43 0.40 0.42 - 0.01 0.50 0.40 Anglo American* O 665 7.70 7.00 7.36 + 0.57 7.70 1.57 Anglo American* O 4 15.30 0.00 14.22 + 0.36 15.30 3.13 Anglo Pac Grp T 3 1.05 1.01 1.05 + 0.04 1.50 0.75 0.07 - 0.03 0.25 0.06 Anglo-Bomarc V 394 0.08 0.00 AngloGold Ash* N 30805 14.37 11.17 11.21 - 2.97 22.91 6.20 Antioquia Gold* O 273 0.08 0.07 0.08 + 0.01 0.08 0.04 V 544 0.12 0.08 0.12 + 0.03 0.11 0.06 Antioquia Gold Antipodes Gold V 6 0.03 0.00 0.02 - 0.01 0.04 0.01 8.80 + 2.10 8.83 5.24 Antofagasta* O 20 8.90 6.65 Apex Res * O 3 0.08 0.06 0.06 - 0.01 0.10 0.06 Apogee Opport * O 2 0.14 0.14 0.14 - 0.02 0.32 0.08 Apogee Opport V 121 0.18 0.16 0.16 - 0.02 0.44 0.11 Apple Cap Inc V 2370 0.29 0.14 0.16 - 0.16 0.54 0.14 O 403 0.12 0.10 0.12 + 0.02 0.43 0.10 Applied Mrnls* AQM Copper V 127 0.16 0.00 0.16 - 0.01 0.20 0.03 Aquila Res* O 200 0.20 0.18 0.19 - 0.01 0.25 0.09 0.23 - 0.04 0.32 0.13 Aquila Res T 202 0.27 0.23 Archon Mineral V 28 1.70 0.00 1.70 + 0.28 2.10 1.30 0.06 - 0.01 0.40 0.02 Arctic Star V 415 0.07 0.06 Arcturus Vents V 230 0.03 0.03 0.03 + 0.01 0.03 0.01 Arena Mnls V 357 0.19 0.15 0.19 + 0.01 0.34 0.15 0.12 + 0.01 0.25 0.11 Arena Mnls* O 13 0.12 0.12 Argentina Lith V 54 0.56 0.46 0.48 - 0.10 0.83 0.04 O 2 0.52 0.35 0.35 - 0.17 0.63 0.03 Argentina Lith* Argex Titanium T 2012 0.07 0.06 0.06 - 0.01 0.11 0.02 Argex Titanium* O 36 0.05 0.04 0.04 - 0.01 0.09 0.01 Argonaut Gold T 6008 2.98 2.31 2.36 - 0.53 4.45 0.78 Argonaut Gold* O 100 2.19 1.73 1.73 - 0.43 3.38 0.53 Argus Metals V 11 0.09 0.08 0.09 - 0.01 0.15 0.02 Arian Silver* O 162 0.01 0.01 0.01 + 0.01 0.19 0.00 Arianne Phosph V 35 0.87 0.00 0.87 + 0.03 1.25 0.68 Arianne Phosph* O 34 0.65 0.61 0.61 - 0.01 0.98 0.52 Arizona Mng* O 161 2.42 2.08 2.24 + 0.16 2.42 0.19 Armor Mnrls V 31 0.59 0.39 0.39 - 0.09 0.85 0.12 Arrowstar Res V 150 0.08 0.00 0.07 - 0.02 0.17 0.05 Asanko Gold T 8382 5.08 4.25 4.29 - 0.82 6.09 1.77 Asanko Gold* X 4446 3.80 3.15 3.15 - 0.68 4.68 1.27 Asante Gold 148 0.21 0.18 0.19 + 0.02 0.27 0.05 Asante Gold* O 51 0.16 0.15 0.15 - 0.01 0.19 0.05 Ascot Res V 351 2.20 1.87 1.89 - 0.30 2.83 0.80 AsiaBaseMetals V 594 0.21 0.15 0.19 + 0.01 0.40 0.04 Asiamet Res V 69 0.05 0.00 0.05 + 0.01 0.08 0.02 Aston Bay V 120 0.26 0.23 0.24 - 0.02 0.49 0.13 Astorius Res V 239 0.30 0.24 0.26 - 0.01 0.41 0.01 ATAC Res V 1398 0.57 0.41 0.41 - 0.19 0.95 0.26 Atacama Pac Gd* O 6 0.41 0.30 0.30 - 0.11 0.79 0.09 Atacama Pac Gd V 158 0.55 0.40 0.40 - 0.10 1.02 0.14 Atacama Res* O 35 0.10 0.06 0.06 - 0.03 0.10 0.05 Athabasca Mnls* O 178 0.14 0.12 0.13 - 0.00 0.23 0.11 Athabasca Mnls V 281 0.20 0.16 0.17 - 0.01 0.32 0.15 Athena Silver* O 15 0.10 0.00 0.10 - 0.00 0.15 0.02 Atico Mng* O 397 0.63 0.56 0.60 - 0.01 0.69 0.12 Atico Mng V 1311 0.85 0.74 0.81 + 0.01 0.91 0.16 Atlanta Gold* O 58 0.07 0.05 0.05 - 0.01 0.09 0.03 Atlanta Gold V 261 0.09 0.07 0.07 - 0.01 0.11 0.05 Atlantic Gold V 1021 0.99 0.88 0.88 - 0.07 1.06 0.23 Atlatsa Res T 24 0.09 0.00 0.09 + 0.01 0.13 0.03 Atlatsa Res* O 22 0.06 0.06 0.06 + 0.00 0.10 0.02 Atom Energy * O 1 0.19 0.19 0.19 + 0.00 0.19 0.12 Aton Res Inc V 405 0.08 0.07 0.07 - 0.01 0.16 0.04 Augustine Vent 103 0.11 0.08 0.08 - 0.02 0.17 0.03 Augyva Mng V 56 0.12 0.11 0.12 + 0.01 0.16 0.08 Aura Mnls T 215 0.19 0.18 0.18 - 0.01 0.31 0.07 Aura Silver Rs V 444 0.05 0.00 0.04 - 0.01 0.08 0.01 Auramex Res V 146 0.03 0.02 0.02 - 0.01 0.03 0.01 Aurania Res V 49 0.73 0.70 0.73 + 0.03 0.73 0.32 Aurcana Corp* O 119 0.40 0.31 0.32 - 0.05 0.63 0.07 Aurcana Corp V 388 0.55 0.42 0.42 - 0.07 0.80 0.09

12-14_Nov 21_StockTables.indd 12

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Aureus Mng* O 51 AuRico Metals * O 433 AuRico Metals T 1159 Aurion Res V 196 Aurvista Gold V 1167 Aurvista Gold* O 191 Auryn Res T 582 Auryn Res* O 562 Avalon Adv Mat T 549 155 Avalon Adv Mat* O Avino Silver* X 2327 Avino Silver V 360 Avnel Gold T 1171 O 399 Avnel Gold * Avrupa Mnls V 718 Avrupa Mnls* O 242 Axmin Inc V 89 Axmin Inc* O 16 AZ Mining T 2946 Azarga Mtls V 118 Azarga Uranium T 46 Azarga Uranium* O 49 Azimut Expl V 187 Azteca Gold* O 3212

0.03 0.01 0.01 - 0.02 0.24 0.02 0.92 0.71 0.75 - 0.15 0.94 0.37 1.24 0.97 1.02 - 0.16 1.26 0.55 0.41 0.38 0.38 - 0.04 0.49 0.05 0.23 0.17 0.17 - 0.07 0.39 0.03 0.17 0.12 0.13 - 0.02 0.29 0.02 3.00 2.40 2.42 - 0.52 4.17 0.94 2.27 1.76 1.79 - 0.41 3.18 0.70 0.19 0.16 0.17 - 0.01 0.33 0.10 0.14 0.12 0.13 + 0.01 0.26 0.07 2.59 1.88 1.90 - 0.45 3.14 0.71 3.45 2.58 2.58 - 0.55 4.05 1.03 0.26 0.20 0.21 - 0.05 0.39 0.18 0.19 0.15 0.15 - 0.04 0.30 0.13 0.15 0.12 0.15 - 0.01 0.25 0.08 0.12 0.09 0.12 + 0.00 0.19 0.05 0.06 0.00 0.05 + 0.01 0.10 0.01 0.03 0.03 0.03 - 0.00 0.06 0.00 3.26 2.78 3.10 + 0.32 3.26 0.27 0.50 0.36 0.36 - 0.17 0.60 0.05 0.22 0.00 0.22 + 0.04 0.40 0.19 0.17 0.14 0.17 + 0.01 0.29 0.14 0.41 0.31 0.35 - 0.07 0.68 0.10 0.00 0.00 0.00 + 0.00 0.01 0.00

B2Gold* X 33375 B2Gold T 55514 Bacanora Mnls V 112 Balmoral Res T 621 Balmoral Res* O 472 Bama Gold 166 Bannerman Res* O 400 T 2076 Banro Banro* X 9626 Banyan Gold V 137 Barisan Gold V 165 Barkerville Go* O 1037 Barkerville Go V 1844 Barrick Gold* N 133536 Barrick Gold T 26935 Barsele Min* O 19 Barsele Min V 408 Batero Gold V 268 Battle Mtn Gld V 390 Battle Mtn Gld* O 52 Bayhorse Silvr* O 68 Bayhorse Silvr V 369 O 240 Bayswater Uran* BCM Res V 159 Bear Creek Mng V 795 Bearing Res V 174 Beaufield Res V 262 Bell Copper V 183 Bellhaven Cp&G V 80 Bellhaven Cp&G* O 29 Belmont Res V 622 Belo Sun Mng T 1414 Belvedere Res V 1611 V 343 Berkwood Res Big Bar Res V 95 Big North Grap V 539 Bison Gold Res V 38 Bitterroot Res V 18 Bitterroot Res* O 180 Black Dragon V 42 Black Hills* N 3226 Black Mam Mtls V 29 Black Sea Cop V 199 Black Sea Cop* O 14 Blackheath Res V 103 BLOX Inc* O 212 Blue Rvr Res V 2249 Blue Sky Uran V 212 BonTerra Res V 1316 BonTerra Res* O 70 Bowmore Expl V 50 Bravada Gold* O 63 Bravada Gold V 226 V 55 Braveheart Res Bravo Multinat* O 2352 Bravura Vent 1491 Bravura Vent * O 30 Brazil Res V 2782 BrightRock Gld* O 70 Britannia Mng* O 65 Brixton Mtls* O 157 Brixton Mtls V 304 Bryn Res* O 3 Buenaventura* N 10953 Buffalo Coal * O 231 Bullfrog Gold* O 441 Burey Gold* O 334

2.92 2.30 2.36 - 0.53 3.65 0.60 3.90 3.12 3.17 - 0.69 4.74 0.86 1.28 1.19 1.21 - 0.05 1.95 1.17 0.91 0.81 0.83 - 0.06 1.28 0.33 0.68 0.60 0.62 - 0.05 0.99 0.23 0.10 0.04 0.04 - 0.06 0.20 0.04 0.03 0.02 0.03 + 0.01 0.04 0.01 0.35 0.27 0.28 - 0.06 0.62 0.21 0.26 0.19 0.21 - 0.04 0.48 0.15 0.07 0.06 0.06 - 0.02 0.13 0.02 0.03 0.00 0.03 + 0.01 0.04 0.02 0.45 0.30 0.32 - 0.11 0.60 0.15 0.60 0.41 0.43 - 0.16 0.76 0.21 18.31 14.66 14.84 - 3.43 23.47 6.90 24.60 19.87 20.06 - 4.44 30.45 9.22 0.71 0.67 0.67 - 0.04 1.10 0.05 0.95 0.88 0.90 - 0.01 1.43 0.08 0.14 0.11 0.11 - 0.02 0.23 0.05 0.62 0.37 0.37 - 0.23 0.95 0.09 0.48 0.00 0.32 - 0.16 0.73 0.06 0.17 0.14 0.16 - 0.02 0.22 0.03 0.24 0.21 0.21 - 0.04 0.29 0.05 0.02 0.02 0.02 - 0.00 0.05 0.00 0.12 0.10 0.12 + 0.02 0.32 0.05 2.76 2.02 2.05 - 0.60 3.77 0.50 0.49 0.40 0.43 + 0.03 0.49 0.13 0.09 0.08 0.08 - 0.01 0.16 0.03 0.05 0.00 0.05 + 0.01 0.07 0.01 0.48 0.00 0.43 - 0.02 0.78 0.03 0.33 0.30 0.31 - 0.02 0.61 0.02 0.08 0.05 0.08 + 0.02 0.12 0.02 1.00 0.83 0.85 - 0.13 1.10 0.22 0.05 0.04 0.04 - 0.01 0.09 0.01 0.19 0.13 0.17 + 0.04 0.25 0.01 0.34 0.00 0.33 - 0.01 0.69 0.29 0.20 0.18 0.19 - 0.02 0.24 0.02 0.30 0.00 0.24 - 0.01 0.50 0.10 0.04 0.00 0.04 - 0.01 0.08 0.03 0.03 0.02 0.02 - 0.00 0.06 0.02 0.07 0.06 0.06 - 0.01 0.10 0.01 61.85 54.76 58.01 - 2.25 64.58 40.00 0.07 0.06 0.06 - 0.01 0.13 0.04 0.35 0.27 0.28 - 0.06 0.54 0.27 0.22 0.00 0.20 - 0.04 0.46 0.20 0.09 0.06 0.09 + 0.01 0.18 0.06 0.03 0.02 0.02 - 0.01 0.03 0.01 0.07 0.05 0.05 - 0.01 0.08 0.03 0.38 0.25 0.26 - 0.06 0.74 0.04 0.26 0.22 0.22 - 0.02 0.51 0.17 0.19 0.17 0.17 - 0.04 0.37 0.12 0.09 0.09 0.09 - 0.01 0.16 0.04 0.19 0.17 0.18 + 0.00 0.31 0.02 0.26 0.21 0.24 - 0.02 0.40 0.03 0.05 0.04 0.05 + 0.01 0.08 0.02 0.01 0.01 0.01 + 0.00 0.10 0.01 0.22 0.13 0.13 - 0.11 0.59 0.02 0.15 0.11 0.11 - 0.05 0.49 0.14 2.60 1.89 2.06 - 0.45 3.35 0.38 0.00 0.00 0.00 + 0.00 0.01 0.00 0.00 0.00 0.00 + 0.00 0.01 0.00 0.38 0.30 0.32 - 0.04 0.92 0.03 0.50 0.41 0.41 - 0.09 1.20 0.05 0.01 0.01 0.01 - 0.00 0.01 0.00 13.33 11.75 12.02 - 0.60 16.45 3.30 0.02 0.00 0.02 - 0.00 0.02 0.01 0.12 0.09 0.11 - 0.01 0.19 0.01 0.06 0.05 0.05 - 0.01 0.10 0.03

B

C Cadan Res V 117 Cadillac Vent V 380 Q 253 Caledonia Mng* Caledonia Mng T 400 Calibre Mng V 1028 California Gl* O 208 California Gld V 527 Callinex Mines V 1576 Callinex Mines* O 495 Cameco Corp* N 20834 Cameco Corp T 8418 Cameo Res* O 234 Camino Mnls V 91 Camrova Res * O 0 Camrova Res V 113 Canada Coal V 39 Canadian Zeol* O 306 Canadian Zeol V 4184 CanAlaska Uran V 226 CanAlaska Uran* O 198 CanAm Coal* O 1790 Canamex Res* O 162 Canamex Res V 961 Canarc Res T 1218 Canarc Res* Q 584 Canasil Res V 1675 Candelaria Mg V 40 T 1405 Candente Coppr Candente Gold V 520 CaNickel Mng V 8 Canoe Mng Vent V 145 Canstar Res V 237 Canterra Mnls V 26 Cantex Mn Dev V 176 Canyon Copper V 7 Canyon Gold* O 80 Capstone Mng T 20634 Caracara Silvr V 174 Cardero Res* O 114 Cardero Res V 111 Cariboo Rose V 155 Carlin Gold V 1808 Cartier Iron 629 Cartier Res V 831 Carube Copper* O 10 Carube Copper V 133 Casablanca Mng* O 41 Castle Mtn Mng V 2319 Castle Peak Mg V 104 Castle Res 2 Cataca Res* O 2049 Cava Res V 136 Caza Gold V 46 CB Gold V 223 Cda Carbon* O 43 Cda Carbon V 313 Cda Rare Earth* O 100 Cda Strtgc Met V 923 Cda Zinc Mtls V 422 Cdn Arrow V 869 Cdn Intl Mnrls V 727 Cdn Metals 470 Cdn Silvr Hunt V 24 Cdn Zinc T 2434

0.06 0.05 0.05 - 0.01 0.09 0.03 0.04 0.03 0.04 + 0.01 0.05 0.01 1.48 1.23 1.25 - 0.26 1.84 0.48 2.00 1.65 1.70 - 0.34 2.42 0.66 0.15 0.13 0.13 - 0.01 0.27 0.06 0.46 0.36 0.39 + 0.03 0.56 0.35 0.61 0.47 0.52 + 0.04 0.80 0.30 0.65 0.54 0.63 + 0.05 0.69 0.23 0.48 0.40 0.46 + 0.08 0.54 0.17 9.10 8.23 8.71 + 0.47 13.59 7.41 12.25 11.01 11.78 + 0.71 17.67 9.88 0.04 0.03 0.04 - 0.00 0.07 0.02 0.22 0.20 0.20 - 0.01 0.29 0.07 0.12 0.00 0.12 + 0.00 0.13 0.10 0.18 0.16 0.17 + 0.01 0.60 0.10 0.05 0.00 0.04 - 0.01 0.06 0.01 0.67 0.33 0.67 + 0.34 0.65 0.06 0.91 0.42 0.91 + 0.48 0.89 0.08 0.48 0.42 0.43 - 0.02 1.55 0.09 0.36 0.31 0.32 - 0.01 1.20 0.06 0.01 0.00 0.01 + 0.00 0.04 0.00 0.10 0.10 0.10 + 0.00 0.11 0.09 0.13 0.12 0.12 - 0.01 0.30 0.10 0.11 0.09 0.09 - 0.02 0.15 0.04 0.08 0.06 0.07 - 0.01 0.12 0.03 0.32 0.27 0.27 - 0.01 0.73 0.04 0.30 0.25 0.29 - 0.01 0.40 0.06 0.14 0.10 0.12 + 0.03 0.18 0.03 0.05 0.00 0.03 - 0.01 0.09 0.01 0.06 0.00 0.06 - 0.01 0.11 0.03 0.09 0.07 0.09 - 0.01 0.10 0.02 0.14 0.09 0.14 + 0.01 0.18 0.04 0.06 0.00 0.05 - 0.01 0.10 0.03 0.08 0.07 0.07 - 0.01 0.15 0.03 0.05 0.00 0.05 - 0.01 0.06 0.01 0.15 0.08 0.08 - 0.02 0.54 0.03 1.13 0.85 0.88 - 0.04 1.13 0.27 0.01 0.00 0.01 - 0.01 0.03 0.01 0.18 0.11 0.15 - 0.01 0.18 0.05 0.24 0.16 0.21 - 0.01 0.25 0.08 0.09 0.09 0.09 - 0.01 0.12 0.03 0.08 0.00 0.05 + 0.02 0.08 0.01 0.06 0.04 0.05 + 0.01 0.11 0.01 0.19 0.15 0.17 + 0.01 0.19 0.04 0.07 0.00 0.07 + 0.01 0.14 0.06 0.10 0.08 0.09 - 0.01 0.20 0.05 0.00 0.00 0.00 - 0.00 0.00 0.00 0.95 0.69 0.75 - 0.17 1.30 0.21 0.03 0.02 0.03 - 0.01 0.08 0.01 0.15 0.00 0.15 - 0.15 0.40 0.01 2.52 1.80 1.95 + 0.02 2.58 0.20 0.41 0.00 0.28 - 0.07 0.78 0.04 0.04 0.00 0.04 - 0.01 0.07 0.02 0.16 0.13 0.13 - 0.03 0.18 0.04 0.21 0.00 0.20 - 0.01 0.28 0.18 0.27 0.25 0.26 - 0.01 0.42 0.24 0.02 0.02 0.02 - 0.00 0.04 0.01 0.15 0.12 0.12 - 0.03 0.26 0.03 0.39 0.35 0.37 - 0.03 0.44 0.10 0.02 0.00 0.01 - 0.01 0.02 0.01 0.03 0.00 0.02 - 0.01 0.13 0.02 0.19 0.10 0.16 + 0.04 0.44 0.06 0.04 0.03 0.04 + 0.01 0.05 0.01 0.25 0.20 0.22 + 0.01 0.41 0.06

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Cdn Zinc* Q 712 0.18 0.15 0.16 + 0.00 0.32 0.04 Centamin T 365 2.82 2.36 2.38 - 0.27 3.05 1.19 O 410 0.10 0.03 0.05 - 0.02 0.34 0.03 Centaurus Diam* Centenera Mng V 157 0.38 0.31 0.31 - 0.08 0.50 0.03 6.26 - 0.79 8.22 5.64 Centerra Gold T 8206 7.39 6.22 Central Rand* O 15 0.03 0.02 0.03 + 0.01 0.06 0.02 Centurion Mnls V 950 0.09 0.08 0.09 + 0.01 0.18 0.04 Cerro Grande 290 0.03 0.00 0.03 + 0.01 0.06 0.01 Cerro Grande* O 31 0.02 0.01 0.02 + 0.01 0.06 0.00 Chalice Gold M T 64 0.15 0.15 0.15 - 0.01 0.21 0.10 V 105 0.08 0.07 0.07 - 0.01 0.11 0.03 Champion Bear Champion Iron* O 108 0.31 0.19 0.25 + 0.05 0.31 0.10 T 4907 0.44 0.25 0.34 + 0.09 0.44 0.13 Champion Iron Chesapeake Gld V 154 4.64 3.90 3.90 - 0.67 6.50 1.72 O 83 3.36 2.90 2.96 - 0.44 5.03 1.24 Chesapeake Gld* Chevron* N 40821 108.50 105.69 106.64 + 1.86 108.50 75.33 Chiboug Ind Mn V 456 0.08 0.06 0.07 + 0.01 0.26 0.03 25 0.05 0.05 0.05 - 0.00 0.17 0.05 Chiboug Ind Mn* O Chilean Metals V 181 0.15 0.11 0.12 - 0.01 0.30 0.04 Chimata Gold V 92 0.02 0.01 0.01 - 0.01 0.05 0.01 3.51 2.66 3.03 - 0.44 3.67 1.75 China Gold Int T 3022 China Mnls Mng* O 20 0.02 0.00 0.02 + 0.01 0.02 0.00 63 0.02 0.02 0.02 - 0.01 0.03 0.01 China Mnls Mng V Cibolan Gold* O 140 0.13 0.04 0.13 + 0.08 0.15 0.03 0.09 + 0.01 0.12 0.06 CKR Carbon V 432 0.09 0.08 Clean Comm V 627 0.08 0.05 0.08 + 0.01 0.17 0.02 Clean Comm* O 64 0.06 0.04 0.04 - 0.00 0.13 0.01 Cleghorn Mnls V 740 0.11 0.10 0.10 - 0.01 0.13 0.08 0.13 - 0.00 0.16 0.05 Clifton Mng* O 208 0.15 0.09 Cloud Peak En* N 17108 8.04 6.45 7.42 + 0.83 8.04 1.08 CMC Metals V 521 0.12 0.10 0.11 - 0.02 0.25 0.05 Cobalt Pwr Grp V 235 0.09 0.07 0.08 - 0.02 0.12 0.04 N 35676 11.98 9.03 9.15 - 2.08 16.41 1.62 Coeur Mng* Colibri Res V 17 0.23 0.18 0.18 - 0.03 0.23 0.03 Colombian Mins V 180 0.24 0.16 0.19 - 0.01 0.25 0.02 Colorado Res V 2540 0.27 0.21 0.23 - 0.02 0.71 0.05 Colorado Res* O 681 0.20 0.16 0.18 + 0.00 0.54 0.04 V 600 0.07 0.00 0.07 + 0.01 0.15 0.06 Colt Res Columbus Gold* O 320 0.52 0.40 0.43 - 0.08 0.72 0.23 Columbus Gold T 381 0.68 0.55 0.58 - 0.09 0.93 0.32 Comet Inds V 4 2.60 2.60 2.60 - 0.40 3.00 1.22 Commander Res V 269 0.06 0.00 0.05 + 0.01 0.08 0.01 O 19 0.05 0.05 0.05 - 0.00 0.08 0.04 Commerce Res* Comstock Mng* X 2246 0.26 0.19 0.20 - 0.05 0.62 0.20 Comstock Mtls V 346 0.22 0.16 0.17 - 0.01 0.43 0.05 Confedertn Ml* O 15 0.56 0.50 0.50 - 0.02 0.63 0.31 Confedertn Mls V 99 0.80 0.65 0.65 - 0.05 9.00 0.46 0.02 - 0.01 0.07 0.01 Conquest Res V 115 0.03 0.02 Cons Woodjam V 163 0.07 0.04 0.07 + 0.02 0.08 0.02 CONSOL Energy* N 28952 19.71 16.84 18.00 + 1.20 20.66 4.54 Constant Mtl V 840 0.11 0.09 0.11 + 0.01 0.15 0.05 Contintl Gold* O 169 2.96 2.29 2.42 - 0.58 3.60 0.88 3.27 - 0.75 4.69 1.28 Contintl Gold T 3074 3.89 3.08 Copper Ck Gold V 22 0.07 0.07 0.07 - 0.01 0.10 0.06 Copper Fox Mtl V 4148 0.16 0.11 0.15 + 0.03 0.24 0.11 Copper Fox Mtl* O 18 0.11 0.08 0.11 + 0.02 0.17 0.08 384 0.08 0.00 0.06 - 0.01 0.08 0.03 Copper Lake Rs V Copper Mtn Mng* O 413 0.53 0.33 0.51 + 0.19 0.52 0.23 Copper Mtn Mng T 12234 0.79 0.45 0.68 + 0.23 0.73 0.33 Copper North M V 319 0.13 0.10 0.13 + 0.03 0.40 0.10 0.26 + 0.08 0.30 0.03 Copper One V 103 0.30 0.18 Copper One * O 6 0.20 0.20 0.20 + 0.04 0.22 0.02 330 0.03 0.02 0.03 - 0.01 0.05 0.01 Copper Reef Mg Copperbank Res* O 21 0.07 0.00 0.06 + 0.00 0.08 0.01 0.09 - 0.01 0.10 0.03 Copperbank Res 636 0.09 0.07 Coral Gold V 141 0.32 0.30 0.30 - 0.02 0.39 0.05 Corazon Gold V 543 0.39 0.35 0.39 + 0.03 0.45 0.18 0.77 + 0.04 1.08 0.11 Cordoba Mnls V 1012 0.84 0.70 O 126 0.61 0.52 0.58 + 0.03 0.79 0.08 Cordoba Mnls* Corex Gold V 774 0.16 0.13 0.13 - 0.03 0.21 0.03 Cornerstone Ca V 1775 0.19 0.17 0.17 - 0.01 0.20 0.02 Cornerstone Ca* O 265 0.14 0.12 0.12 - 0.02 0.15 0.01 0.14 + 0.02 0.21 0.02 Coro Mining T 1061 0.16 0.12 Coronet Mtls* O 49 0.37 0.22 0.29 - 0.04 0.56 0.02 Coronet Mtls V 116 0.49 0.31 0.39 - 0.02 0.71 0.03 Corsa Coal V 7464 0.13 0.11 0.11 - 0.01 0.15 0.02 0.79 - 0.07 1.38 0.33 Corvus Gold T 122 0.87 0.74 Corvus Gold* O 93 0.66 0.54 0.59 - 0.05 1.05 0.25 Cougar Mnls V 454 0.39 0.33 0.36 - 0.03 0.82 0.35 Critical Elem V 1058 0.55 0.47 0.50 - 0.05 0.75 0.14 0.36 - 0.06 0.58 0.10 Critical Elem* O 47 0.42 0.36 Crown Mining V 302 0.11 0.00 0.09 + 0.01 0.20 0.04 Cruz Cap Corp* O 11 0.52 0.50 0.50 - 0.02 0.53 0.20 Cruz Cap Corp V 317 0.68 0.66 0.66 - 0.02 0.71 0.07 Crystal Lake V 73 0.28 0.22 0.28 + 0.01 0.43 0.22 360 0.29 0.26 0.29 + 0.02 0.42 0.17 Crystal Pk Min V Crystal Pk Min* O 3 0.21 0.20 0.21 + 0.01 0.32 0.13 102 0.24 0.18 0.22 + 0.03 0.25 0.11 CWN M’g Acq V Cypress Dev* O 88 0.09 0.07 0.09 + 0.02 0.16 0.02 0.11 + 0.01 0.20 0.03 Cypress Dev V 518 0.12 0.10

D-F Dajin Res V 1153 Dajin Res* O 1067 Dalradian Res T 1332 O 833 Dalradian Res* Damara Gold V 52 Danakali* O 157 Darnley Bay V 422 Debut Dmds 193 Decade Res V 260 Defiance Silvr* O 424 Defiance Silvr V 1008 Denison Mines T 3315 Denison Mines* X 3405 Desert Gold V 10 Desert Star V 23 Detour Gold T 7734 Diamante Min* O 826 Diamcor Mng V 97 Diamcor Mng* O 21 Diamond Disc* O 440 Dios Expl V 233 Discovery Gold* O 23 Discovery Harb V 346 O 14680 Discovery Mnls* Discovery-Corp V 2626 Ditem Explor* O 34 DNI Metals 216 DNI Metals* O 158 19 Dolly Vard Sil* O Dolly Vard Sil V 70 Dominion Diam T 796 Dominion Diam* N 1468 362 Double Crn Res* O DRDGOLD* N 2946 Dundee Prec Mt T 1585 Duran Vent V 260 Dynacor Gld Mn T 459 Dynasty Met&Mn* O 25 Dynasty Met&Mn T 91 V 153 Eagle Graphite Eagle Plains V 2418 East Africa V 663 East Africa * O 17 Eastern Platin* O 20 Eastern Platin T 897 Eastfield Res V 79 Eastmain Res T 1526 Eco Oro Mnls T 95 eCobalt Solns* O 328 Edgewater Expl V 241 El Capitan Prc* O 1846 El Nino Vent V 111 Elcora Res V 149 Elcora Res* O 33 Eldorado Gold* N 41178 Eldorado Gold T 21893 Eloro Mnrls* O 11 Eloro Mnrls V 121 Ely Gold & Mnl* O 264 Elysee Dev V 55 Emerita Res V 1449 Empire Rock V 4 Endeavour Mng* O 74 Endeavour Mng T 1751 Endeavr Silver* N 15055 Endeavr Silver T 4589 Endurance Gold V 307 Energizer Res* O 507

0.15 0.12 0.12 - 0.03 0.30 0.10 0.11 0.09 0.09 - 0.02 0.24 0.08 1.46 1.20 1.25 - 0.20 1.68 0.62 1.10 0.88 0.92 - 0.15 1.27 0.45 0.06 0.00 0.06 + 0.01 0.10 0.04 0.32 0.27 0.31 - 0.01 0.37 0.17 0.21 0.18 0.19 + 0.01 0.24 0.01 0.02 0.01 0.02 + 0.01 0.03 0.01 0.06 0.00 0.05 - 0.01 0.13 0.01 0.34 0.24 0.25 - 0.07 0.49 0.04 0.45 0.33 0.33 - 0.10 0.63 0.06 0.65 0.52 0.60 + 0.09 0.85 0.48 0.48 0.38 0.44 + 0.06 0.67 0.35 0.27 0.25 0.27 - 0.01 0.30 0.09 0.16 0.00 0.15 - 0.01 0.32 0.05 20.99 16.33 17.16 - 3.53 35.93 12.45 0.18 0.15 0.15 - 0.02 0.85 0.15 1.19 1.15 1.16 - 0.03 1.50 0.65 0.91 0.85 0.85 - 0.06 1.11 0.46 0.00 0.00 0.00 + 0.00 0.00 0.00 0.08 0.08 0.08 - 0.01 0.19 0.05 0.00 0.00 0.00 + 0.00 0.00 0.00 0.02 0.02 0.02 + 0.01 0.03 0.01 0.00 0.00 0.00 + 0.00 0.00 0.00 0.07 0.03 0.04 + 0.02 0.08 0.02 0.00 0.00 0.00 - 0.00 0.00 0.00 0.04 0.00 0.03 - 0.01 0.10 0.03 0.03 0.02 0.02 - 0.00 0.10 0.02 0.57 0.44 0.44 - 0.11 0.81 0.08 0.72 0.60 0.60 - 0.12 1.11 0.12 11.60 11.19 11.50 + 0.04 16.82 9.96 8.66 8.35 8.50 - 0.04 12.65 7.27 0.01 0.01 0.01 + 0.00 0.02 0.01 5.32 3.87 3.93 - 1.37 9.10 1.34 2.97 2.15 2.27 - 0.65 4.14 0.84 0.10 0.09 0.10 + 0.01 0.20 0.07 2.65 2.16 2.26 - 0.28 3.71 1.46 0.17 0.14 0.14 - 0.02 0.34 0.08 0.25 0.19 0.20 - 0.03 0.45 0.10 0.04 0.03 0.03 - 0.01 0.06 0.02 0.17 0.14 0.14 - 0.01 0.17 0.05 0.24 0.19 0.19 - 0.03 0.36 0.03 0.18 0.14 0.14 - 0.04 0.28 0.02 0.36 0.35 0.35 + 0.00 0.89 0.34 0.47 0.43 0.43 - 0.05 1.19 0.44 0.04 0.04 0.04 + 0.01 0.06 0.02 0.70 0.56 0.58 - 0.11 0.97 0.29 0.27 0.00 0.20 - 0.09 0.62 0.17 0.43 0.35 0.40 - 0.02 0.59 0.35 0.06 0.05 0.05 - 0.15 0.28 0.06 0.06 0.05 0.06 - 0.00 0.28 0.03 0.04 0.03 0.03 - 0.01 0.05 0.01 0.35 0.30 0.35 + 0.03 0.75 0.18 0.26 0.23 0.24 + 0.01 0.55 0.20 3.38 2.62 2.66 - 0.62 5.16 1.87 4.54 3.55 3.60 - 0.79 6.71 2.67 0.36 0.33 0.33 - 0.03 0.45 0.07 0.46 0.40 0.45 - 0.01 0.58 0.09 0.15 0.12 0.14 - 0.00 0.20 0.03 0.42 0.38 0.39 + 0.01 0.43 0.18 0.12 0.09 0.09 - 0.03 0.17 0.02 0.11 0.00 0.09 - 0.02 0.27 0.04 18.41 14.68 15.40 - 2.72 20.85 4.40 24.81 19.87 20.86 - 3.39 27.17 5.70 5.07 3.72 3.74 - 1.11 5.95 1.00 6.82 5.05 5.08 - 1.43 7.75 1.46 0.07 0.05 0.06 - 0.01 0.07 0.02 0.05 0.04 0.05 - 0.01 0.10 0.03

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Energizer Res T 1135 Energy Fuels T 452 Energy Fuels* X 639 Engold Mines V 661 Engold Mines* O 169 Ensurge* O 136 Entree Gold* X 893 Entree Gold T 1022 Equitas Res* O 1128 Equitorial Ex V 276 291 Erdene Res Dev T 104 Erdene Res Dev* O Erin Ventures V 59 2 Eros Res Corp* O 400 Eros Res Corp V 400 Eros Res Corp V Eskay Mng V 491 Ethos Gold V 774 X 506 Eurasian Mnls* Eurasian Mnls V 325 Eureka Res V 146 699 T Euro Sun Mg 59 Euro Sun Mg* O O 28 EurOmax Res* EurOmax Res T 177 V 3 Eurotin Everest Vent V 22 Everton Res V 444 Everton Res* O 46 Evolving Gold 33 O 7 Evolving Gold* Evrim Res V 153 O 295 Excalibur Res* Excalibur Res 805 Excellon Res T 1287 Excellon Res* O 376 O 169 Excelsior Mng* Excelsior Mng V 1115 Exeter Res* X 1095 Exeter Res T 633 508 ExGen Res Inc V O 10 Expedition Mng* Explor Res* O 506 Explor Res V 1883 Explorex Res 461 Fairmont Res V 1241 Falco Res V 638 Falcon Gold V 43 Far Res 3740 70 Filo Mg Corp V Finore Mng 15715 Finore Mng* O 851 Fiore Explor* O 93 Fiore Explor V 907 Firestone Vent V 90 O 101 Firma Holdings* First Cobalt V 222 First Liberty* O 2459 First Majestic* N 48635 First Majestic T 11303 V 6045 First Mg Fin First Mg Fin * O 5260 First Point V 227 First Quantum T 36417 Fission Uran T 3975 Fission Uran* O 1211 Flinders Res* O 593 Flinders Res V 642 O 394 Focus Graphite* V 1022 Focus Graphite Foran Mng V 962 T 834 Formation Mtls Forrester Met* O 5 Forrester Met V 118 Forsys Metals T 71 O 35 Fortescue Mtls* T 4753 Fortuna Silvr 12333 Fortuna Silvr* N Fortune Bay V 35 Fortune Bay* O 27 O 21 Fortune Mnrls* V 428 Forum Uranium O 81 Forum Uranium* Four River V 1759 N 5558 Franco-Nevada* Franco-Nevada T 4219 Freegold Vent T 407 326381 N Freeport McMo* Fresnillo plc* O 10 41 Frontier Rr Er* O 25 Full Metal Mnl V

0.05 0.06 - 0.01 0.13 0.07 0.06 1.74 1.92 + 0.14 4.13 1.95 1.74 1.30 1.42 + 0.10 2.98 1.44 1.30 0.03 0.08 - 0.04 0.19 0.11 0.07 0.02 0.07 - 0.03 0.14 0.09 0.05 0.01 0.07 - 0.02 0.09 0.09 0.06 0.17 0.34 + 0.04 0.38 0.34 0.28 0.25 0.42 + 0.02 0.47 0.47 0.38 0.02 0.03 - 0.00 0.10 0.04 0.03 0.02 0.04 - 0.01 0.10 0.04 0.04 0.48 0.39 0.40 - 0.08 0.55 0.12 0.35 0.28 0.30 - 0.05 0.42 0.09 0.04 0.05 - 0.01 0.11 0.05 0.00 0.13 0.00 0.13 - 0.00 0.17 0.06 0.19 0.17 0.18 - 0.01 0.23 0.09 0.19 0.17 0.18 - 0.01 0.23 0.09 0.06 0.25 + 0.10 0.42 0.25 0.20 0.14 0.21 - 0.01 0.41 0.25 0.00 0.35 0.97 + 0.06 1.40 1.00 0.92 0.48 1.26 + 0.02 1.84 1.44 1.20 0.04 0.11 - 0.01 0.17 0.12 0.00 1.02 0.91 0.93 - 0.02 1.45 0.90 0.78 0.68 0.74 - 0.00 1.06 0.68 0.15 0.53 + 0.05 0.59 0.54 0.46 0.21 0.75 + 0.08 0.81 0.81 0.61 0.03 0.06 - 0.01 1.00 0.06 0.00 0.09 0.90 + 0.18 0.95 0.90 0.67 0.01 0.06 - 0.01 0.20 0.07 0.06 0.00 0.04 - 0.01 0.14 0.05 0.04 0.04 0.27 - 0.02 0.50 0.30 0.00 0.02 0.21 + 0.00 0.38 0.23 0.00 0.10 0.24 - 0.01 0.43 0.26 0.24 0.00 0.07 + 0.01 0.09 0.07 0.06 0.01 0.10 + 0.01 0.11 0.10 0.08 0.20 1.58 - 0.36 2.40 2.01 1.40 0.14 1.17 - 0.26 1.85 1.49 1.03 0.12 0.36 + 0.03 0.39 0.39 0.34 0.19 0.46 + 0.01 0.53 0.53 0.45 0.29 0.99 - 0.21 1.48 1.17 0.97 0.39 1.31 - 0.27 1.94 1.55 1.30 0.01 0.01 0.01 - 0.01 0.02 0.01 0.06 0.06 - 0.01 0.22 0.07 0.06 0.04 0.07 + 0.02 0.18 0.07 0.05 0.06 0.10 + 0.03 0.24 0.10 0.07 0.05 0.14 + 0.02 0.19 0.14 0.10 0.02 0.08 + 0.01 0.23 0.09 0.07 0.21 0.98 - 0.09 1.39 1.07 0.91 0.03 0.11 - 0.02 0.20 0.20 0.00 0.02 0.07 - 0.01 0.15 0.08 0.07 1.99 1.89 1.91 - 0.05 2.15 0.64 0.01 0.43 + 0.10 0.49 0.47 0.32 0.00 0.33 + 0.07 0.41 0.37 0.23 0.02 0.36 - 0.10 0.55 0.46 0.36 0.03 0.47 - 0.07 0.76 0.54 0.47 0.01 0.05 + 0.01 0.08 0.05 0.00 0.02 0.10 + 0.02 0.11 0.10 0.07 0.24 0.23 - 0.03 0.41 0.32 0.00 0.00 0.00 + 0.00 0.00 0.00 0.00 9.72 7.80 8.02 - 0.40 19.15 2.40 10.85 - 0.43 24.96 3.50 13.07 10.52 0.86 0.66 0.69 - 0.10 1.31 0.31 0.65 0.48 0.53 - 0.08 1.02 0.22 0.04 0.08 + 0.01 0.14 0.08 0.07 14.22 + 2.12 15.74 2.15 15.74 12.48 0.49 0.56 + 0.05 0.82 0.59 0.49 0.36 0.42 + 0.04 0.63 0.44 0.36 0.09 0.38 + 0.03 0.61 0.46 0.35 0.13 0.50 + 0.03 0.77 0.62 0.49 0.04 0.00 0.23 + 0.06 0.06 0.05 0.07 0.08 - 0.01 0.30 0.08 0.07 0.05 0.20 - 0.01 0.31 0.25 0.18 0.09 0.52 - 0.04 0.78 0.57 0.48 0.00 0.05 + 0.00 0.09 0.05 0.05 0.04 0.07 - 0.02 0.14 0.09 0.07 0.05 0.07 - 0.01 0.14 0.08 0.00 1.00 4.63 + 0.62 4.64 4.64 4.18 10.32 7.93 8.01 - 1.49 12.73 2.92 2.00 5.92 - 1.17 9.75 7.68 5.85 0.25 0.70 - 0.01 0.90 0.70 0.00 0.36 0.52 - 0.00 0.64 0.56 0.00 0.01 0.09 - 0.02 0.13 0.11 0.09 0.04 0.08 - 0.02 0.20 0.09 0.08 0.03 0.06 - 0.01 0.14 0.07 0.06 0.14 1.10 + 0.05 1.28 1.28 0.90 41.47 57.22 - 10.17 81.16 68.28 57.10 91.35 77.36 77.56 - 12.74 105.69 58.67 0.05 0.12 - 0.04 0.28 0.15 0.11 13.94 + 2.89 14.15 3.52 14.26 11.11 17.84 - 2.57 26.65 9.00 22.12 17.84 0.02 0.01 0.01 - 0.01 0.05 0.00 0.12 0.00 0.09 - 0.01 0.12 0.02

G4G Capital V 306 Gabriel Res T 97 Gainey Capital V 316 Galane Gold V 3290 Galantas Gold V 385 Galore Res V 381 Galway Gold V 139 Galway Mtls* O 24 Galway Mtls V 104 Garibaldi Res V 1300 144 Garibaldi Res * O General Moly T 7 General Moly* X 617 Genesis Mtls V 171 Genesis Mtls* O 5 Genius Props 843 Geodex Mnrls V 7 O 130 Geologix Expl* Geologix Expl V 575 Geomega Res V 437 Getty Copper V 762 GFK Res V 84 Gitennes Expl V 44 Giyani Gold* O 111 Giyani Gold V 1053 O 275 Gldn Predator* Gldn Predator V 1142 Glencore Plc* O 1809 Global Gold* O 66 Globex Mng* O 45 Globex Mng T 201 O 132 GMV Minerals* GMV Minerals V 436 GoGold Res T 1069 999 Gold & Silver* O 276 Gold Bulln Dev* O Gold Bulln Dev V 1955 34640 Gold Fields* N Gold Lakes* O 4179 341 Gold Mng USA* O 479 Gold Reach Res V Gold Reserve* O 22 Gold Reserve V 118 X 8625 Gold Resource* 155 Gold Ridge Exp V Gold Std Vents* X 2623 Gold Std Vents V 1047 Gold Torrent* O 2 V 22 Goldbank Mng Goldcliff Res* O 45 Goldcliff Res V 56 T 17750 Goldcorp Goldcorp* N 59115 Golden Arrow* O 607 Golden Arrow V 1142 45 Golden Dawn Ml* O Golden Dawn Ml V 2263 Golden Eagle* O 78 V 515 Golden Goliath O 178 Golden Goliath* Golden Hope V 191 Golden Hope* O 8 Golden Mnls T 223 Golden Mnls* X 3299 16 Golden Peak Mn V O 847 Golden Queen*

0.04 1.00 + 0.09 1.10 1.10 0.86 0.12 0.50 - 0.10 0.74 0.58 0.50 0.10 0.24 - 0.01 0.37 0.28 0.24 0.03 0.04 0.19 0.10 - 0.13 0.08 0.07 0.14 - 0.02 0.18 0.16 0.14 0.01 0.01 - 0.01 0.04 0.02 0.01 0.04 0.01 0.13 0.08 - 0.10 0.08 0.06 0.26 - 0.04 0.51 0.28 0.26 0.09 0.36 - 0.07 0.65 0.41 0.36 0.07 0.12 + 0.04 0.18 0.12 0.08 0.09 0.06 0.09 + 0.03 0.13 0.05 0.22 0.31 - 0.01 0.59 0.31 0.30 0.15 0.23 + 0.01 0.47 0.24 0.22 0.07 0.16 - 0.01 0.28 0.17 0.15 0.01 0.12 - 0.01 0.22 0.13 0.12 0.02 0.04 - 0.02 0.06 0.06 0.04 0.05 0.07 + 0.02 0.11 0.07 0.00 0.01 0.06 - 0.00 0.11 0.07 0.06 0.02 0.09 + 0.01 0.15 0.09 0.08 0.06 0.08 - 0.01 0.23 0.10 0.08 0.01 0.03 + 0.02 0.03 0.04 0.00 0.03 0.14 - 0.01 0.18 0.15 0.14 0.01 0.02 - 0.01 0.04 0.02 0.02 0.02 0.48 + 0.06 0.50 0.50 0.40 0.06 0.60 + 0.03 0.70 0.70 0.53 0.06 0.57 - 0.01 0.89 0.62 0.54 0.09 0.79 + 0.02 1.17 0.80 0.73 1.95 7.03 + 1.16 7.15 7.15 6.05 0.00 0.02 - 0.01 0.04 0.03 0.02 0.15 0.24 + 0.00 0.38 0.25 0.24 0.19 0.33 + 0.02 0.51 0.35 0.31 0.06 0.30 - 0.07 0.55 0.37 0.30 0.08 0.43 - 0.05 0.70 0.50 0.41 0.56 0.60 - 0.05 1.65 0.68 0.58 0.00 0.00 0.00 + 0.00 0.60 0.00 0.07 0.05 0.05 - 0.02 0.11 0.01 0.09 0.07 0.07 - 0.02 0.16 0.03 2.04 3.39 - 0.78 6.60 4.47 3.36 0.02 0.04 + 0.00 1.02 0.04 0.03 0.00 0.00 0.00 - 0.00 0.17 0.00 0.16 0.13 0.14 + 0.01 0.25 0.08 0.00 4.15 - 0.11 5.90 4.44 4.15 3.06 5.64 - 0.06 8.00 6.02 5.60 1.14 4.28 - 1.21 8.22 5.90 4.26 0.13 0.10 0.12 - 0.02 0.70 0.05 2.41 2.02 2.15 - 0.22 3.20 0.49 3.23 2.74 2.84 - 0.33 4.10 0.66 0.20 1.00 + 0.45 1.00 1.00 0.55 0.05 0.08 + 0.02 0.16 0.09 0.00 0.15 0.26 - 0.02 0.36 0.29 0.25 0.05 0.34 - 0.03 0.47 0.38 0.34 13.55 17.80 - 2.70 26.56 21.07 17.64 13.14 - 2.16 20.38 9.46 15.69 13.02 0.13 0.50 - 0.12 1.30 0.69 0.48 0.17 0.69 - 0.14 1.48 0.92 0.65 0.22 0.18 0.18 - 0.04 0.32 0.06 0.30 0.24 0.25 - 0.05 0.44 0.07 0.00 0.06 + 0.01 0.07 0.06 0.05 0.01 0.06 - 0.01 0.14 0.07 0.06 0.00 0.05 - 0.00 0.10 0.06 0.04 0.16 0.29 + 0.03 0.39 0.31 0.27 0.12 0.20 - 0.05 0.25 0.25 0.20 0.19 0.95 + 0.03 1.51 1.05 0.89 0.13 0.68 - 0.01 1.16 0.79 0.66 0.35 0.00 0.35 + 0.01 0.90 0.12 0.48 0.64 - 0.16 1.56 0.85 0.64

G-H

2016-11-15 3:04 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / NOVEMBER 21–27, 2016

13

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

Week

12-month

Exc Volume High Low Last Change High Low

Golden Queen T 584 Golden Reign V 494 Golden Secret V 142 Golden Sh Mng V 244 Golden Star T 1371 Golden Star* X 19053 Golden Tag V 52 Golden Valley V 987 Goldex Res* O 6 Goldex Res V 33 Goldeye Expl V 815 Goldgroup Mng T 6165 O 5714 Goldgroup Mng* GoldON Res V 158 V 2153 GoldQuest Mng Goldrea Res 43 Goldrea Res* O 17 O 853 Goldsource Min* Goldsource Min V 869 Goldstar Mnls V 724 V 1520 Goldstrike Res Gonzaga Res V 1726 Gossan Res V 152 GoviEx Uranium V 707 Gowest Gold* O 470 Gowest Gold V 1106 GPM Metals* O 160 GPM Metals V 256 Gran Colombia* O 614 Gran Colombia T 7312 Graphite Corp* O 1112 Graphite One V 1078 Great Atlantic V 59 58 Great Bear Res V Great Lakes Gr V 604 Great Lakes Gr* O 190 Great Panther T 1884 X 8217 Great Panther* Great Quest Fe* O 17 Great Quest Fe V 60 Great Rock Dev* O 80 Great Thunder V 699 O 271 Great Western* Green Swan Cap V 72 Greenland M&En* O 69 Grizzly Discvr V 70 Grizzly Gold* O 22 GTA Res & Mng V 404 Guerrero Vents V 226 Gungnir Res V 149 Gungnir Res* O 85 Guyana Gldflds T 5157 Handa Copper V 183 N 35673 Harmony Gold* Harvest Gold V 92 Hawkeye Gld&Di V 4581 Hawkeye Gld&Di* O 40 V 319 Heatherdale Rs Hecla Mining* N 104898 Hellix Vent* O 159 Heron Res T 36 Highbank Res V 1436 Highland Copp V 774 136 Highway 50 Gld V HiHo Silver 50 Hinterland Mtl V 146 O 21 Hochschild Mg* Honey Badger E V 222 Houston Lake V 109 HTI Ventures V 540 HudBay Mnls T 27382 HudBay Mnls* N 2915 Hudson Res V 109 Hudson Res* O 2 Hunt Mng V 20 Hunt Mng* O 33

1.15 0.86 0.86 - 0.21 2.00 0.67 0.30 0.28 0.28 - 0.01 0.36 0.07 0.36 0.33 0.33 - 0.04 0.69 0.02 0.34 0.29 0.30 - 0.03 0.36 0.07 1.17 0.88 0.95 - 0.18 1.46 0.21 0.88 0.65 0.73 - 0.13 1.13 0.14 0.09 0.08 0.08 - 0.01 0.18 0.02 0.36 0.30 0.33 - 0.03 0.36 0.07 0.63 0.42 0.53 + 0.11 0.63 0.08 0.84 0.00 0.75 + 0.18 0.90 0.10 0.07 0.00 0.06 - 0.01 0.08 0.02 0.28 0.17 0.17 - 0.09 0.39 0.05 0.21 0.12 0.12 - 0.07 0.30 0.03 0.20 0.17 0.17 - 0.01 0.36 0.04 0.37 0.27 0.28 - 0.10 0.68 0.12 0.09 0.07 0.07 - 0.02 0.14 0.03 0.07 0.05 0.06 - 0.00 0.10 0.02 0.26 0.17 0.17 - 0.06 0.45 0.12 0.34 0.24 0.24 - 0.08 0.57 0.15 0.07 0.06 0.07 - 0.01 0.08 0.01 0.15 0.13 0.13 - 0.03 0.41 0.08 0.10 0.05 0.10 + 0.06 0.10 0.01 0.06 0.00 0.05 - 0.01 0.11 0.02 0.11 0.09 0.10 - 0.01 0.19 0.09 0.17 0.12 0.12 - 0.04 0.22 0.04 0.22 0.15 0.17 - 0.05 0.28 0.06 0.17 0.13 0.13 - 0.04 0.43 0.12 0.22 0.15 0.15 - 0.08 0.57 0.11 0.09 0.07 0.07 - 0.02 0.17 0.04 0.12 0.10 0.10 - 0.01 0.23 0.06 0.00 0.00 0.00 + 0.00 0.02 0.00 0.08 0.08 0.08 + 0.01 0.18 0.07 0.14 0.12 0.14 + 0.01 0.15 0.03 0.26 0.20 0.21 - 0.05 0.36 0.05 0.08 0.07 0.07 - 0.01 0.13 0.06 0.06 0.00 0.06 - 0.01 0.09 0.04 1.93 1.62 1.65 - 0.19 2.82 0.54 1.44 1.20 1.23 - 0.15 2.25 0.41 0.22 0.18 0.18 - 0.04 0.24 0.09 0.25 0.19 0.25 - 0.01 0.38 0.11 0.01 0.00 0.01 + 0.00 0.01 0.00 0.06 0.04 0.04 - 0.01 0.24 0.01 0.00 0.00 0.00 + 0.00 0.00 0.00 0.08 0.00 0.08 + 0.01 0.14 0.01 0.06 0.04 0.06 + 0.01 0.17 0.00 0.04 0.00 0.04 + 0.01 0.07 0.01 0.12 0.06 0.06 - 0.03 0.22 0.01 0.06 0.05 0.06 - 0.01 0.24 0.02 0.02 0.00 0.01 - 0.01 0.04 0.01 0.05 0.04 0.04 - 0.01 0.06 0.01 0.04 0.03 0.04 - 0.00 0.04 0.01 8.12 5.82 6.53 - 1.33 10.35 2.48 0.06 0.05 0.05 - 0.01 0.07 0.03 3.45 2.47 2.54 - 0.88 4.87 0.53 0.06 0.05 0.05 - 0.02 0.10 0.02 0.33 0.15 0.19 - 0.09 0.33 0.03 0.20 0.13 0.14 - 0.06 0.20 0.05 0.04 0.03 0.03 - 0.01 0.07 0.01 7.64 5.93 6.03 - 0.43 7.64 1.45 0.03 0.01 0.03 + 0.00 0.06 0.00 0.14 0.00 0.14 + 0.02 0.17 0.07 0.05 0.05 0.05 + 0.01 0.12 0.04 0.17 0.12 0.14 + 0.03 0.17 0.07 0.16 0.15 0.15 - 0.01 0.25 0.05 0.09 0.09 0.09 + 0.02 0.15 0.07 0.05 0.04 0.04 - 0.01 0.12 0.01 3.46 3.05 3.05 - 0.33 4.16 0.59 0.03 0.02 0.02 - 0.01 0.05 0.01 0.29 0.00 0.29 + 0.01 0.40 0.13 0.65 0.55 0.57 - 0.05 0.98 0.01 8.33 6.05 7.75 + 1.84 8.13 2.26 6.15 4.45 5.75 + 1.35 6.05 1.56 0.38 0.00 0.35 - 0.02 0.50 0.29 0.26 0.25 0.25 - 0.02 0.38 0.24 0.30 0.24 0.25 + 0.01 0.40 0.02 0.18 0.18 0.18 + 0.00 0.31 0.02

I-Minerals V 234 IAMGOLD T 26972 57664 IAMGOLD* N Iberian Mnrls V 516 IC Potash* O 637 IC Potash T 1896 Iconic Mnls V 601 Idaho North* O 114 IDM Mining* O 1038 IDM Mining V 3500 iMetal Res V 63 IMPACT Silver V 1390 Impala Platnm* O 337 Imperial Metal* O 46 Imperial Metal T 332 Inca One Gold V 667 Inca One Gold* O 145 Inception Mng * O 58 Independence G V 320 Independence G* O 57 Inspiration Mg* O 4 Intact Gold* O 2 Intact Gold V 621 Integra Gold* O 2247 Integra Gold V 4789 Inter-Rock Mnl V 63 Intl Lithium* O 70 Intl Lithium V 537 204 Intl Samuel Ex V Intl Tower Hil* X 1632 Intl Tower Hil T 331 Intrepid Pots* N 10754 INV Metals T 819 Inventus Mg * O 47 Inventus Mg V 178 InZinc Mining V 391 InZinc Mining* O 52 Ireland* O 921 Ironside Res V 13 Irving Res* O 2 IsoEnergy Ltd V 6 Itoco Mg Corp* O 150 Ivanhoe Mines* O 1573 Ivanhoe Mines T 14747 Jaguar Mng* O 399 Jaguar Mng T 4489 Japan Gold* O 15 Japan Gold V 360 Jasper Mng V 8 Jaxon Mnls V 1879 Jayden Res* O 5 Jazz Res V 24 JDL Gold* O 200 JDL Gold V 502 Jet Gold V 568 Jet Metal* O 34 K2 Gold V 6 K92 Mng Inc* O 546 K92 Mng Inc V 2376 Kaizen Discvry V 293 Kapuskasing Gd* O 245 Kapuskasing Gd V 521 Karmin Expl V 26 Karnalyte Res T 21 Katanga Mng T 1273 Kennady Diam V 125 Kerr Mines T 382 Khalkos Expl V 294 Khan Res 220 Kilo Goldmines* O 156 Kilo Goldmines V 857 Kincora Copper V 236 Kings Bay Gold V 103 Kinross Gold T 36986 Kinross Gold* N 83103 Kirkland Lk Gd T 3557 Kirkland Lk Gd* O 572 Kiska Metals* O 137 Klondex Mines T 4191 Klondike Gold* O 128 Klondike Gold V 519

0.31 0.27 0.28 - 0.01 0.37 0.20 6.27 4.81 4.87 - 0.75 7.65 1.66 4.66 3.54 3.59 - 0.62 5.87 1.15 0.06 0.06 0.06 - 0.01 0.11 0.04 0.11 0.08 0.08 + 0.00 0.11 0.03 0.14 0.12 0.12 - 0.01 0.15 0.04 0.20 0.16 0.19 + 0.03 0.45 0.03 0.09 0.08 0.08 - 0.01 0.12 0.06 0.14 0.10 0.10 - 0.03 0.21 0.04 0.18 0.14 0.14 - 0.04 0.26 0.07 0.07 0.05 0.05 - 0.01 0.08 0.03 0.84 0.63 0.68 - 0.07 1.28 0.11 4.18 3.61 3.68 - 0.26 5.23 1.45 4.66 3.50 4.32 + 0.55 6.21 2.81 6.32 4.70 5.85 + 0.82 8.50 3.92 0.36 0.26 0.27 - 0.08 0.88 0.21 0.25 0.19 0.21 - 0.05 0.35 0.18 0.72 0.00 0.72 + 0.27 1.65 0.25 0.18 0.15 0.16 - 0.02 0.50 0.06 0.13 0.11 0.12 - 0.02 0.37 0.04 0.03 0.00 0.03 + 0.01 0.10 0.01 0.06 0.04 0.06 - 0.00 0.14 0.04 0.08 0.06 0.06 - 0.01 0.18 0.02 0.56 0.43 0.45 - 0.11 0.76 0.21 0.74 0.58 0.61 - 0.12 0.96 0.30 0.05 0.00 0.05 + 0.02 0.14 0.02 0.13 0.12 0.13 + 0.00 0.55 0.02 0.18 0.16 0.18 - 0.01 0.38 0.06 0.10 0.05 0.10 + 0.04 0.15 0.05 0.82 0.62 0.62 - 0.17 1.40 0.18 1.06 0.84 0.85 - 0.20 1.82 0.26 1.16 1.00 1.14 + 0.03 3.77 0.65 0.85 0.75 0.75 - 0.02 1.10 0.09 0.14 0.11 0.11 - 0.02 0.28 0.12 0.20 0.16 0.16 - 0.02 0.35 0.02 0.20 0.16 0.16 - 0.03 0.25 0.04 0.13 0.12 0.12 - 0.01 0.17 0.03 0.09 0.05 0.08 + 0.01 0.38 0.05 0.09 0.00 0.08 + 0.01 0.16 0.05 0.36 0.28 0.35 - 0.02 0.46 0.09 1.00 0.00 1.00 - 0.13 1.50 0.69 0.05 0.05 0.05 + 0.00 1.10 0.00 1.88 1.58 1.80 + 0.20 1.88 0.36 2.54 2.12 2.42 + 0.28 2.54 0.53 0.57 0.43 0.46 - 0.09 0.65 0.09 0.77 0.59 0.62 - 0.14 0.85 0.14 0.29 0.24 0.24 - 0.04 0.67 0.25 0.39 0.33 0.34 - 0.03 0.88 0.20 0.05 0.03 0.03 - 0.04 0.08 0.03 0.11 0.08 0.09 - 0.02 0.13 0.03 0.12 0.08 0.08 - 0.03 0.17 0.01 0.09 0.00 0.09 + 0.02 0.25 0.07 1.44 1.27 1.29 - 0.13 1.64 1.35 1.95 1.71 1.74 - 0.16 2.55 0.74 0.20 0.00 0.13 + 0.03 0.14 0.04 0.10 0.00 0.04 - 0.02 0.11 0.00 0.32 0.00 0.32 + 0.01 0.45 0.08 1.03 0.81 0.84 - 0.12 1.72 0.75 1.34 1.11 1.14 - 0.13 2.24 0.87 0.18 0.16 0.16 - 0.02 0.31 0.08 0.03 0.02 0.02 - 0.01 0.08 0.02 0.04 0.00 0.03 - 0.02 0.10 0.02 0.27 0.25 0.26 - 0.01 0.32 0.15 1.04 0.97 0.98 - 0.03 4.15 0.64 0.17 0.13 0.15 + 0.02 0.23 0.13 4.00 3.48 3.70 - 0.10 5.00 2.35 0.13 0.11 0.12 - 0.01 0.16 0.02 0.17 0.00 0.16 - 0.01 0.26 0.06 0.87 0.86 0.87 + 0.01 0.88 0.34 0.09 0.08 0.08 - 0.01 0.19 0.05 0.14 0.10 0.10 - 0.04 0.25 0.06 0.41 0.30 0.37 + 0.07 0.55 0.15 0.09 0.08 0.08 - 0.01 0.15 0.05 5.73 4.39 4.39 - 1.11 7.56 1.91 4.27 3.24 3.25 - 0.86 5.82 1.31 9.10 7.35 8.04 - 1.24 12.39 4.51 7.32 5.44 7.19 + 0.24 9.70 3.12 0.05 0.04 0.05 - 0.00 0.09 0.01 7.55 5.95 5.96 - 1.26 7.95 2.56 0.15 0.12 0.12 - 0.04 0.32 0.07 0.20 0.17 0.17 - 0.03 0.45 0.09

I-J-K

12-14_Nov 21_StockTables.indd 13

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Klondike Silv* O 4 Knick Expl V 136 Komet Resource V 243 Kootenay Silvr V 941 KWG Res* O 203

0.05 0.04 0.05 + 0.01 0.12 0.01 0.08 0.00 0.07 - 0.01 0.11 0.01 0.53 0.45 0.47 - 0.02 0.58 0.29 0.45 0.36 0.39 - 0.06 0.60 0.17 0.02 0.01 0.02 + 0.00 0.03 0.01

Labdr Iron Mns* O 166 Labrador Iron T 2065 Lago Dourado V 162 Lakeside Mnrls V 496 Lamelee Iron V 37 Lancaster Cap V 76 Lara Expl V 1091 Laramide Res T 481 Largo Res* O 56 Largo Res T 198 Lateral Gold V 143 17 Latin Am Mnls* O Latin Am Mnls V 196 Laurion Mnl Ex V 177 Laurion Mnl Ex* O 169 LeadFX Inc* O 2 480 Lepanto Con Mg* O Levon Res Ltd T 674 Levon Res Ltd * O 334 Lexam VG Gold* O 320 Lexam VG Gold T 956 Li3 Energy* O 292 Libero Mg Corp V 107 Liberty Star* O 21694 Lincoln Mng V 84 Lion One Mtls V 126 82 Lion One Mtls* O Lions Gate Mtl 34 Lithium Amer* O 3580 Lithium Corp* O 1448 Lithium Expl* O 47941 O 323 Lode-Star Mg* Logan Res V 131 Lomiko Mtls* O 457 Loncor Res* O 1 Loncor Res T 45 58 Lone Star Gold* O Lonmin plc* O 7 Lorraine Coppr* O 13 Lovitt Res V 348 Lucara Diam T 4214 Luna Gold T 120 Luna Gold* O 8 Lund Enterpr V 2 Lundin Gold T 405 Lundin Mng T 27737 Lupaka Gold V 177 Lydian Intl T 1986 Lydian Intl* O 156 Lynas Corp* O 133

0.00 0.00 0.00 - 0.00 0.02 0.00 16.78 14.51 16.55 + 2.21 16.75 6.85 0.12 0.09 0.09 - 0.04 0.59 0.05 0.04 0.02 0.02 - 0.06 0.12 0.02 0.22 0.19 0.21 + 0.04 0.50 0.10 0.27 0.21 0.25 - 0.02 0.32 0.07 1.38 1.00 1.07 - 0.27 1.58 0.21 0.22 0.20 0.22 - 0.01 0.38 0.16 0.32 0.00 0.30 - 0.06 0.56 0.08 0.48 0.39 0.40 - 0.02 0.72 0.11 1.00 0.95 0.95 - 0.07 1.25 0.26 0.17 0.15 0.15 - 0.02 0.36 0.06 0.27 0.00 0.22 - 0.05 0.48 0.09 0.06 0.05 0.06 + 0.01 0.08 0.01 0.04 0.03 0.03 - 0.01 0.05 0.00 0.24 0.18 0.18 - 0.06 0.41 0.11 0.01 0.00 0.00 - 0.00 0.02 0.00 0.40 0.36 0.36 - 0.03 0.71 0.09 0.30 0.26 0.27 - 0.01 0.54 0.07 0.24 0.18 0.18 - 0.06 0.29 0.04 0.32 0.23 0.23 - 0.07 0.38 0.05 0.02 0.01 0.02 + 0.00 0.03 0.01 0.16 0.16 0.16 + 0.02 0.21 0.02 0.00 0.00 0.00 + 0.00 0.01 0.00 0.07 0.00 0.06 - 0.01 0.17 0.02 0.95 0.80 0.82 - 0.13 1.17 0.32 0.72 0.59 0.60 - 0.11 0.91 0.23 0.05 0.00 0.03 - 0.02 0.09 0.01 0.53 0.38 0.51 + 0.00 0.87 0.34 0.08 0.06 0.06 - 0.02 0.13 0.02 0.00 0.00 0.00 - 0.00 0.20 0.00 0.04 0.03 0.03 - 0.01 0.05 0.02 0.16 0.15 0.15 - 0.02 0.26 0.04 0.03 0.02 0.03 + 0.00 0.04 0.02 0.11 0.11 0.11 - 0.01 0.20 0.01 0.19 0.00 0.15 - 0.01 0.25 0.02 0.00 0.00 0.00 - 0.00 0.01 0.00 2.79 0.00 2.74 - 0.10 90.00 0.55 0.04 0.00 0.00 - 0.04 0.07 0.00 0.15 0.03 0.15 + 0.12 0.15 0.02 3.81 3.20 3.34 - 0.37 4.39 1.55 2.72 2.15 2.50 - 0.10 3.50 0.30 1.96 0.00 1.58 - 0.36 1.96 1.76 0.12 0.00 0.12 + 0.01 0.19 0.02 6.25 5.42 5.46 - 0.51 6.62 3.75 6.57 5.25 6.12 + 0.97 6.57 2.98 0.22 0.17 0.17 - 0.08 0.29 0.04 0.44 0.37 0.38 - 0.03 0.52 0.19 0.34 0.32 0.32 + 0.00 0.41 0.13 0.05 0.04 0.04 + 0.00 0.10 0.03

L

M Macarthur Mnl* O 17 0.05 0.04 0.04 - 0.01 0.14 0.02 Macarthur Mnl V 1373 0.06 0.05 0.06 - 0.01 0.18 0.02 V 190 0.01 0.01 0.01 - 0.01 0.02 0.01 MacDonald Mns MacMillan Mnls V 98 1.12 0.95 0.95 - 0.17 1.44 0.30 MAG Silver T 1388 20.45 15.56 15.79 - 3.94 23.32 8.67 0.00 + 0.00 0.00 0.00 Magnus Intl* O 949 0.00 0.00 0.04 + 0.01 0.09 0.01 Majescor Res* O 4 0.04 0.03 Majestic Gold* O 14 0.05 0.04 0.05 + 0.01 0.08 0.03 Makena Res* O 108 0.01 0.00 0.00 - 0.01 0.04 0.00 Makena Res V 774 0.02 0.01 0.01 - 0.01 0.05 0.01 0.31 - 0.02 0.46 0.25 Malbex Res V 169 0.32 0.30 Malbex Res* O 2 0.23 0.22 0.22 - 0.00 0.27 0.22 Mammoth Res V 1250 0.03 0.02 0.02 - 0.01 0.05 0.01 Manado Gold V 80 0.11 0.11 0.11 + 0.01 0.15 0.10 0.90 - 0.02 1.35 0.59 Mandalay Res T 4867 0.97 0.89 V 638 0.04 0.03 0.03 - 0.01 0.06 0.02 Mangazeya Mng Manitou Gold V 574 0.09 0.04 0.06 + 0.02 0.12 0.02 Manson Creek V 77 0.03 0.03 0.03 - 0.01 0.06 0.01 T 1928 0.66 0.49 0.50 - 0.15 0.83 0.11 Marathon Gold Margaux Res V 73 0.32 0.00 0.31 + 0.01 0.32 0.11 Mariana Res V 746 1.30 1.20 1.20 - 0.03 1.35 0.85 Mariana Res* O 319 0.98 0.90 0.91 - 0.07 1.05 0.02 0.23 + 0.01 0.31 0.08 Maritime Res V 10 0.23 0.23 Marlin Gold* O 125 0.46 0.33 0.38 - 0.09 0.54 0.10 Marlin Gold V 173 0.61 0.45 0.52 - 0.07 0.69 0.15 229.74 + 37.41 234.83 108.31 MartinMarietta* N 9501 235.40 193.68 O 511 1.08 0.88 0.97 + 0.06 1.21 0.21 Mason Graphite* Mason Graphite V 924 1.45 1.18 1.33 + 0.10 1.60 0.30 Matamec Expl V 283 0.06 0.06 0.06 - 0.01 0.11 0.02 Matamec Expl* O 163 0.04 0.04 0.04 - 0.00 0.07 0.01 0.03 + 0.01 0.04 0.01 Matica Ent 19391 0.03 0.02 Matmown* O 115 0.04 0.03 0.03 - 0.01 0.10 0.01 Maudore Mnrls* O 2 0.00 0.00 0.00 + 0.00 0.01 0.00 Maverix Mtls* O 1 0.82 0.78 0.78 - 0.03 16.33 0.78 Mawson Res* O 125 0.34 0.27 0.29 + 0.00 0.42 0.12 0.01 + 0.00 0.02 0.00 Maxwell Res* O 46 0.01 0.01 Maya Gold &Sil V 615 0.14 0.12 0.13 - 0.02 0.27 0.10 MBAC Fertilizr V 73 2.60 1.02 1.02 - 0.78 5.00 1.30 MBAC Fertilizr* O 875 0.00 0.00 0.00 - 0.06 3.01 0.04 McEwen Mng T 4997 4.85 3.47 3.62 - 1.14 6.44 1.07 McEwen Mng* N 32078 3.64 2.56 2.67 - 0.88 4.92 0.81 0.01 - 0.01 0.02 0.01 McLaren Res 240 0.02 0.01 MDN Inc* O 9 0.87 0.85 0.86 - 0.01 0.92 0.03 0.07 0.05 0.06 - 0.01 0.14 0.05 Meadow Bay Gd T 2145 Meadow Bay Gd* O 3431 0.05 0.04 0.04 - 0.01 0.11 0.04 N 4220 5.83 4.60 5.45 + 1.06 5.83 1.23 Mechel* Medallion Res* O 110 0.02 0.01 0.02 + 0.00 0.04 0.01 Medgold Res V 636 0.20 0.00 0.18 - 0.03 0.25 0.05 Mega Uranium* O 321 0.10 0.08 0.09 + 0.01 0.15 0.04 Mega Uranium T 736 0.14 0.11 0.13 + 0.01 0.20 0.05 Melior Res V 194 0.05 0.03 0.05 + 0.02 0.06 0.01 0.03 - 0.01 0.06 0.01 Melkior Res V 884 0.03 0.00 Merrex Gold V 846 0.17 0.15 0.16 - 0.01 0.31 0.12 0.12 - 0.00 0.24 0.10 Merrex Gold* O 20 0.12 0.11 0.07 + 0.01 0.17 0.01 Mesa Expl V 25 0.08 0.00 Metalex Vent V 484 0.07 0.00 0.05 - 0.02 0.11 0.05 Metallic Mnrls* O 21 0.44 0.35 0.35 - 0.06 0.44 0.04 Metallic Mnrls V 67 0.59 0.48 0.48 - 0.07 0.59 0.05 Metallis Res V 112 0.15 0.09 0.13 + 0.01 0.28 0.02 Metals Creek* O 62 0.07 0.06 0.06 - 0.00 0.14 0.05 Metals Creek V 682 0.09 0.07 0.07 - 0.02 0.20 0.05 1.23 + 0.16 1.43 0.68 Metals X* O 1 1.23 0.00 Metanor Res V 3581 0.09 0.08 0.08 - 0.01 0.13 0.03 Mexus Gold* O 2593 0.08 0.07 0.08 + 0.01 0.09 0.00 O 278 0.14 0.11 0.14 + 0.02 0.19 0.11 MGX Minerals* MGX Minerals 1614 0.19 0.14 0.19 + 0.03 0.51 0.08 Midas Gold T 1258 1.07 0.91 0.91 - 0.13 1.22 0.25 Midas Gold* O 1634 0.80 0.67 0.68 - 0.10 0.95 0.16 Midasco Cap V 75 0.08 0.08 0.08 - 0.01 0.15 0.06 Midland Expl V 370 1.24 1.05 1.08 - 0.12 1.25 0.45 Midnight Sun V 65 0.11 0.11 0.11 + 0.01 0.24 0.08 Midway Gold* O 484 0.00 0.00 0.00 + 0.00 0.01 0.00 Millennial Lit* O 25 1.14 0.00 1.06 + 0.08 1.20 0.97 1.49 - 0.01 2.45 0.06 Millennial Lit V 1512 1.54 1.25 Millrock Res* O 693 0.43 0.31 0.33 - 0.01 0.54 0.11 Millrock Res V 1080 0.57 0.42 0.44 - 0.01 0.70 0.15 Millstream Min V 19 0.08 0.07 0.07 - 0.02 0.16 0.03 Minaurum Gold V 1302 0.09 0.00 0.08 - 0.01 0.14 0.04 Minco Gold* X 697 0.26 0.19 0.22 - 0.01 0.42 0.10 Minco Gold T 99 0.34 0.00 0.30 - 0.02 0.55 0.12 Minco Silver T 302 1.28 0.92 0.95 - 0.29 2.05 0.34 Minco Silver* O 251 0.95 0.68 0.72 - 0.21 1.54 0.26 Minecorp Egy V 11 0.09 0.00 0.09 - 0.02 0.18 0.01 Minera Alamos V 280 0.18 0.15 0.15 - 0.02 0.29 0.07 Mineral Hill V 6 0.26 0.00 0.24 - 0.02 0.40 0.11 Mineral Mtn V 184 0.45 0.39 0.42 - 0.01 0.49 0.08 Mineral Mtn* O 89 0.35 0.30 0.31 - 0.03 0.38 0.04 Mineral Res* O 1 9.30 8.89 9.30 + 0.41 9.30 2.40 Miranda Gold V 1142 0.09 0.07 0.07 - 0.01 0.18 0.06 Mirasol Res V 1167 2.45 1.41 1.87 - 0.55 3.50 0.72 Mistango River 60 0.02 0.02 0.02 + 0.01 0.05 0.01 MK2 Ventures V 32 0.23 0.00 0.23 - 0.03 0.30 0.03 ML Gold* O 30 0.13 0.12 0.12 - 0.01 0.13 0.00 Monarca Mnrls V 2591 0.03 0.00 0.02 - 0.01 0.10 0.01 Monarques Res* O 32 0.26 0.24 0.24 - 0.02 0.48 0.04 Monarques Res V 632 0.37 0.29 0.29 - 0.05 0.66 0.06 Moneta Porcpn* O 368 0.20 0.17 0.18 - 0.01 0.28 0.07 Moneta Porcpn T 1898 0.27 0.23 0.23 - 0.04 0.36 0.11 Montego Res 57 0.09 0.06 0.09 + 0.03 0.16 0.06 Montero Mg&Ex V 46 0.03 0.00 0.03 + 0.01 0.08 0.02

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Monument Mng V 652 Morien Res* O 120 Morumbi Res V 140 Mosaic* N 32142 Mountain Boy V 351 Mountain Prov T 353 Mountain Prov* D 289 Mundoro Cap* O 17 Mundoro Cap V 746 Murchison Min 9 MX Gold V 2109 MX Gold* O 322

0.11 0.11 0.11 - 0.01 0.19 0.09 0.30 0.28 0.30 + 0.01 0.30 0.13 0.11 0.11 0.11 - 0.01 0.12 0.02 28.50 24.76 27.41 + 2.91 32.97 22.02 0.06 0.00 0.05 - 0.01 0.08 0.01 6.93 6.52 6.56 - 0.40 7.18 3.40 5.20 4.85 4.95 - 0.25 5.52 2.47 0.14 0.13 0.13 - 0.01 0.20 0.03 0.18 0.16 0.16 - 0.01 0.23 0.04 0.21 0.21 0.21 + 0.02 0.35 0.05 0.16 0.13 0.14 - 0.02 0.39 0.12 0.12 0.10 0.10 - 0.01 0.31 0.09

NACCO Ind* N 76 82 Namibia Rare E* O Napier Vent V 78 Napier Vent* O 93 Natan Res V 82 Natural Res Pt* N 697 Nautilus Mnrls T 647 O 312 Nautilus Mnrls* Nemaska Lith* O 152 Nemaska Lith T 3132 Nevada Canyon* O 42 Nevada Clean M* O 277 T 1084 Nevada Copper 909 Nevada Egy Mtl* O 994 Nevada Egy Mtl V Nevada Expl * O 103 Nevada Expl V 177 O 655 Nevada Sunrise* Nevada Sunrise V 645 Nevada Zinc V 232 Nevado Res V 285 Nevsun Res* X 5124 Nevsun Res T 6671 New Carolin Gd V 675 30 New Carolin Gd* O O 102416 New Colombia* New Dimen Res V 122 46249 New Gold* X New Gold T 12931 New Gold* O 15 205 New Guinea Gld* O New Jersey Mng* O 162 New Milln Iron* O 163 New Milln Iron T 1987 New Nadina V 49 New Nadina* O 7 New Oroperu V 5 New World Res V 6 O 237 NewCastle Gold* Newmac Res V 41 Newmarket Gold T 5373 Newmarket Gold* O 1522 Newmont Mng* N 53282 Newport Gold* O 99 Newstrike Res V 101 Nexgen Energy T 6111 Nexgen Energy* O 246 4192 Next Gen Mtls Next Gen Mtls* O 63 Nexus Gold V 1853 Nexus Gold* O 745 NGEx Res T 244 NGEx Res* O 4 Nickel One Res V 427 Nicola Mg Inc V 788 172 Nicola Mg Inc* O Nighthawk Gold V 2720 Niobay Metals V 31 Niocorp Dev T 672 Niocorp Dev* O 227 Nippon Dragon V 1363 Noble Mnl Expl V 1859 Noka Res V 858 Noram Vent V 4820 Noram Vent* O 9 Noranda Alum* O 283 Noront Res V 1682 Norsemont Cap 520 Nortec Mnls V 33 5 North Am Nickl* O North Am Nickl V 428 North Am Pall T 20 8 North Am Pall* O North Arrow Mn* O 5 74 North Arrow Mn V Northcliff Res T 121 Northisle C&G V 367 Norvista Cap V 651 Nouveau Monde V 958 NovaCopper* X 806 NovaCopper T 49 NovaGold Res* X 16660 NovaGold Res T 2728 Novo Res V 156 Novo Res* O 116 Nrthn Freegold V 127 Nrthn Freegold* O 37 Nrthn Graphite* O 65 Nrthn Graphite V 145 Nrthn Iron V 1467 Nrthn Lion V 35 Nrthn Mnrls &E* O 10 Nrthn Shield V 3193 Nrthn Vertex* O 12 Nrthn Vertex V 319 Nthn Dynasty T 7291 Nthn Dynasty* X 11635 Nthrn Sphere 6 Nubian Res V 178 NuLegacy Gold* O 2833 NuLegacy Gold V 2606 OceanaGold T 9414 OceanaGold* O 113 Oceanic Iron O V 137 Oceanus Res V 356 106 Odin Mng & Exp V Odin Mng & Exp* O 41 Olivut Res* O 10 Omineca Mg &Ml V 68 Opawica Expl V 205 Orbite Tech T 3223 Orbite Tech* O 65 Orca Gold V 1197 Orca Gold* O 105 Orex Expl V 475 Orex Mnrls V 901 Orex Mnrls* O 109 Orezone Gold V 897 Orezone Gold* O 272 Organic Potash 23 Orla Mng Ltd V 82 Oro East Mg* O 53 Orocobre T 468 Orofino Mnrls V 110 Oroplata Res* O 841 Orosur Mng T 149 Orsu Metals* O 0 Orvana Mnrls T 504 Orvana Mnrls* O 41 Osisko Gold T 2870 Osisko Gold* N 752 Osisko Mng Inc T 2025 Otis Gold* O 159 Otis Gold V 714

88.47 77.33 87.60 + 10.30 85.00 40.04 0.04 0.04 0.04 - 0.00 0.09 0.03 0.31 0.25 0.31 + 0.03 0.34 0.15 0.23 0.21 0.23 + 0.01 0.26 0.18 0.22 0.18 0.22 + 0.04 0.40 0.05 37.90 27.75 36.45 + 5.95 37.90 5.00 0.19 0.17 0.18 + 0.01 0.35 0.10 0.14 0.12 0.13 + 0.00 0.27 0.08 1.03 0.92 0.95 + 0.00 1.50 0.23 1.37 1.27 1.29 + 0.01 1.97 0.29 0.15 0.11 0.15 + 0.03 0.25 0.01 0.04 0.02 0.04 + 0.01 0.04 0.00 0.78 0.58 0.76 + 0.14 1.10 0.45 0.10 0.08 0.09 - 0.00 0.20 0.06 0.13 0.11 0.12 - 0.01 0.26 0.03 0.35 0.30 0.31 - 0.02 0.56 0.18 0.47 0.40 0.42 - 0.06 0.72 0.24 0.28 0.19 0.22 - 0.02 0.37 0.11 0.36 0.29 0.30 - 0.02 0.47 0.15 0.43 0.39 0.41 - 0.01 0.80 0.19 0.08 0.07 0.07 - 0.01 0.11 0.01 3.10 2.75 3.08 + 0.34 3.80 2.27 4.18 3.69 4.15 + 0.48 4.81 3.27 0.08 0.07 0.07 - 0.01 0.15 0.04 0.06 0.06 0.06 - 0.00 0.12 0.03 0.02 0.01 0.01 + 0.00 0.05 0.00 0.11 0.00 0.10 - 0.01 0.19 0.04 4.52 3.65 3.67 - 0.48 6.04 1.76 6.09 4.94 4.96 - 0.62 7.87 2.56 0.06 0.05 0.06 - 0.02 0.17 0.03 0.00 0.00 0.00 - 0.00 0.00 0.00 0.14 0.11 0.11 - 0.01 0.15 0.04 0.08 0.08 0.08 - 0.01 0.11 0.03 0.12 0.09 0.11 + 0.01 0.18 0.05 0.12 0.00 0.10 + 0.02 0.18 0.05 0.06 0.06 0.06 + 0.00 0.11 0.06 0.55 0.54 0.55 - 0.05 0.72 0.12 0.10 0.10 0.10 + 0.01 0.16 0.02 0.69 0.54 0.55 - 0.12 0.96 0.16 0.08 0.07 0.07 - 0.01 0.12 0.05 4.07 3.11 3.36 - 0.69 5.07 1.27 3.03 2.30 2.48 - 0.55 3.91 0.91 38.40 31.36 31.59 - 6.21 46.07 16.05 0.06 0.04 0.05 - 0.01 0.06 0.00 0.11 0.11 0.11 + 0.01 0.19 0.02 1.68 1.43 1.60 + 0.13 2.86 0.56 1.25 1.06 1.17 + 0.07 2.25 0.41 0.38 0.26 0.28 - 0.09 0.42 0.09 0.28 0.20 0.20 - 0.06 0.29 0.07 0.10 0.08 0.09 - 0.01 0.14 0.04 0.08 0.05 0.07 - 0.00 0.08 0.06 1.25 1.14 1.18 - 0.02 1.50 0.46 0.87 0.86 0.87 - 0.00 1.14 0.40 0.09 0.07 0.09 + 0.01 0.18 0.07 0.18 0.16 0.17 - 0.01 0.54 0.05 0.14 0.00 0.12 - 0.01 0.39 0.03 0.48 0.37 0.39 - 0.09 0.61 0.04 1.19 1.10 1.15 - 0.03 1.25 0.05 0.85 0.68 0.82 + 0.12 1.14 0.51 0.64 0.52 0.60 + 0.09 0.87 0.37 0.08 0.06 0.07 - 0.01 0.13 0.05 0.02 0.01 0.02 + 0.01 0.03 0.01 0.07 0.06 0.06 - 0.01 0.21 0.04 0.07 0.06 0.06 - 0.01 0.13 0.01 0.05 0.05 0.05 + 0.00 0.06 0.05 0.05 0.02 0.03 - 0.00 1.24 0.01 0.29 0.26 0.26 - 0.02 0.51 0.24 0.31 0.28 0.31 + 0.03 0.31 0.22 0.06 0.00 0.06 + 0.01 0.09 0.02 0.08 0.08 0.08 - 0.03 0.11 0.05 0.12 0.10 0.10 - 0.01 0.15 0.07 5.15 4.66 5.15 + 0.50 6.49 3.91 3.76 3.40 3.75 + 0.35 5.06 2.71 0.13 0.13 0.13 - 0.02 0.24 0.11 0.21 0.17 0.21 + 0.04 0.32 0.12 0.10 0.09 0.09 - 0.01 0.15 0.07 0.08 0.07 0.08 + 0.01 0.14 0.02 0.16 0.12 0.14 + 0.02 0.30 0.08 0.26 0.22 0.25 - 0.01 0.38 0.13 0.52 0.41 0.46 - 0.05 0.86 0.15 0.68 0.59 0.63 - 0.02 1.08 0.20 5.30 4.08 4.23 - 1.19 7.29 3.37 7.13 5.53 5.72 - 1.56 9.56 4.49 1.40 1.10 1.10 - 0.29 1.95 0.48 1.09 0.80 0.82 - 0.23 1.41 0.35 0.27 0.00 0.21 - 0.06 0.29 0.04 0.18 0.15 0.15 - 0.03 0.23 0.02 0.20 0.17 0.18 - 0.01 0.47 0.12 0.27 0.22 0.26 + 0.01 0.63 0.16 0.06 0.05 0.06 - 0.01 0.11 0.01 0.25 0.19 0.19 - 0.06 0.32 0.07 0.04 0.02 0.02 - 0.02 0.05 0.02 0.17 0.11 0.14 - 0.02 0.30 0.01 0.34 0.30 0.30 - 0.04 0.42 0.17 0.47 0.38 0.40 - 0.02 0.52 0.13 1.26 0.93 1.18 + 0.21 1.48 0.28 0.94 0.70 0.89 + 0.15 1.16 0.20 0.28 0.17 0.17 - 0.10 0.63 0.10 0.23 0.17 0.17 - 0.02 0.23 0.01 0.30 0.18 0.21 - 0.07 0.41 0.06 0.39 0.25 0.27 - 0.11 0.54 0.08 3.94 3.42 3.52 - 0.46 5.56 2.25 3.11 2.55 2.56 - 0.50 4.26 1.67 0.26 0.18 0.21 - 0.06 0.34 0.08 0.22 0.18 0.18 - 0.04 0.35 0.15 0.85 0.78 0.78 - 0.07 0.97 0.27 0.63 0.00 0.57 - 0.05 0.84 0.22 0.15 0.13 0.15 - 0.00 0.30 0.06 0.06 0.05 0.05 - 0.01 0.11 0.02 0.09 0.07 0.07 - 0.03 0.16 0.02 0.32 0.29 0.30 - 0.01 0.53 0.20 0.23 0.22 0.22 + 0.00 0.40 0.15 0.48 0.37 0.37 - 0.10 0.55 0.12 0.36 0.28 0.28 - 0.06 0.44 0.08 0.05 0.04 0.04 - 0.01 0.05 0.01 0.52 0.46 0.49 + 0.02 1.38 0.11 0.38 0.33 0.35 - 0.01 1.02 0.05 0.76 0.61 0.63 - 0.14 1.28 0.22 0.57 0.45 0.47 - 0.11 0.99 0.16 0.02 0.02 0.02 - 0.01 0.09 0.01 1.45 1.28 1.41 - 0.05 1.75 0.10 0.01 0.01 0.01 + 0.00 0.04 0.00 3.77 3.51 3.64 - 0.05 4.92 1.33 0.10 0.00 0.10 + 0.04 0.25 0.06 0.34 0.25 0.26 - 0.06 2.04 0.16 0.29 0.27 0.27 - 0.01 0.38 0.10 0.02 0.00 0.02 - 0.00 0.04 0.01 0.27 0.23 0.26 - 0.01 0.39 0.11 0.20 0.16 0.16 - 0.03 0.29 0.07 13.91 12.37 12.60 - 1.37 18.64 12.34 10.49 9.14 9.43 - 0.99 14.74 8.88 2.76 2.27 2.29 - 0.52 3.42 0.96 0.21 0.17 0.19 - 0.00 0.32 0.05 0.28 0.23 0.24 - 0.02 0.42 0.07

Pac Booker Min* O 10 Pac Booker Min V 2 Pac Gold* O 5864 Pac North West* O 180 Pac Potash V 34 Pac Ridge Expl* O 1 Pac Ridge Expl V 597 Pac Topaz V 30 Paget Mrnls V 29

0.80 0.77 0.77 - 0.03 1.75 0.45 1.06 1.00 1.00 - 0.06 2.38 0.63 0.00 0.00 0.00 + 0.00 0.00 0.00 0.03 0.03 0.03 + 0.01 0.06 0.00 0.03 0.00 0.03 - 0.01 0.07 0.03 0.06 0.06 0.06 + 0.00 0.08 0.01 0.10 0.08 0.08 - 0.02 0.11 0.02 0.18 0.00 0.18 + 0.01 0.29 0.08 0.06 0.04 0.06 + 0.02 0.09 0.01

N-O

P-Q

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Paladin Energy T 5550 Palamina Corp* O 3 Palamina Corp V 38 Pan Am Silver* D 22570 Pan Am Silver T 3018 O 137 Pancontinental* Pancontinental V 105 Pangolin Dia V 459 Panoro Mnrls V 563 Pantheon Vent V 409 Paramount Gold* X 420 Parlane Res V 1443 Pasinex Res 1543 Passprt Potash* O 143 Patriot Gold* O 157 Peabody Enrgy* O 5193 Pelangio Expl* O 211 Pelangio Expl V 331 Pele Mtn Res* O 67 Peloton Mnrls* O 95 Peregrine Diam T 1007 Perseus Mng T 1942 Pershimco Res V 1364 Pershing Gold* D 676 Peruvian Prc M* O 66 O 3 Petra Diamonds* Philippine Mtl V 138 Pilot Gold T 1008 Pilot Gold* O 427 Pine Cliff En* O 1213 Pine Cliff En T 2247 Pinecrest Res V 48 24 Pistol Bay Mng V V 10 Pitchblack Res PJSC Polyus Gd* O 14 PJX Res V 273 Plate Res V 119 Plateau Uran* O 19 Plateau Uran V 191 Platinum Gp Mt T 381 Platinum Gp Mt* X 1792 Playfair Mng V 564 Playfair Mng* O 111 PNG Gold V 1693 Polaris Mater T 359 PolyMet Mng* X 1693 PolyMet Mng T 157 Portage Res* O 21179 Potash Corp SK T 13272 Potash Corp SK* N 45472 Potash Ridge T 1511 Potash Ridge* O 130 PPX Mining V 256 Precipitate Gl V 230 Premier Gold M T 5685 Premium Expl* O 21 Pretium Res* N 12088 Pretium Res T 2859 Primero Mng T 10107 Primero Mng* N 15216 Prize Mng V 20 Probe Metals* O 140 Probe Metals V 209 Prophecy Coal T 31 Prophecy Coal* O 0 Prospect Glob* O 13 Prosper Gold V 492 Prospero Silvr V 305 PUF Vent Inc 2150 PUF Vent Inc * O 9 Puma Expl V 318 Pure Energy* O 774 Pure Energy V 1079 Pure Gold Mg* O 539 Pure Gold Mg V 3292 Purepoint Uran V 6976 Q-Gold Res V 45 251 QMC Quantum Ml V QMX Gold* O 122 QMX Gold V 557 Quartz Mtn Res* O 1 Quaterra Res V 642 Quaterra Res* O 461 Quest Rare Mnl* O 46 Quest Rare Mnl T 810 Quinto Real V 1497

0.14 0.11 0.12 - 0.03 0.27 0.13 0.14 0.11 0.11 - 0.03 0.19 0.08 0.17 0.14 0.16 - 0.03 0.25 0.06 17.54 14.31 14.42 - 2.08 21.59 5.38 23.55 19.38 19.50 - 2.62 27.56 7.85 0.08 0.07 0.07 - 0.00 0.10 0.00 0.10 0.00 0.09 - 0.03 0.16 0.01 0.06 0.05 0.06 + 0.01 0.22 0.03 0.19 0.15 0.19 + 0.04 0.21 0.09 0.19 0.13 0.15 - 0.02 0.27 0.10 1.83 1.51 1.54 - 0.18 2.93 0.93 0.29 0.21 0.29 + 0.05 0.29 0.01 0.13 0.10 0.12 - 0.01 0.17 0.03 0.00 0.00 0.00 - 0.00 0.02 0.00 0.10 0.09 0.09 - 0.01 0.23 0.05 15.35 7.95 12.48 + 4.28 18.75 0.55 0.03 0.03 0.03 + 0.00 0.06 0.01 0.05 0.04 0.04 - 0.01 0.08 0.01 0.02 0.02 0.02 - 0.00 0.04 0.02 0.08 0.06 0.06 - 0.02 0.12 0.04 0.20 0.17 0.17 - 0.03 0.32 0.09 0.65 0.54 0.56 - 0.08 0.67 0.27 0.28 0.25 0.27 - 0.01 0.36 0.09 4.40 3.86 3.93 - 0.34 5.02 3.04 0.09 0.07 0.07 - 0.02 0.13 0.02 1.80 1.80 1.80 + 0.12 1.80 0.86 0.06 0.06 0.06 + 0.01 0.18 0.01 0.57 0.49 0.51 - 0.07 0.95 0.22 0.43 0.36 0.37 - 0.06 0.72 0.06 0.72 0.68 0.68 - 0.05 0.85 0.51 0.98 0.89 0.93 - 0.05 1.13 0.61 0.21 0.20 0.20 - 0.01 0.30 0.03 0.10 0.00 0.09 - 0.01 0.14 0.01 0.11 0.00 0.11 + 0.01 0.16 0.05 35.15 34.19 34.19 - 0.41 37.59 18.35 0.20 0.16 0.20 + 0.04 0.21 0.13 0.04 0.03 0.03 - 0.01 0.08 0.03 0.18 0.17 0.18 - 0.02 0.35 0.17 0.24 0.20 0.23 - 0.01 0.45 0.20 2.39 2.10 2.12 - 0.11 5.25 1.35 1.79 1.56 1.57 - 0.11 4.04 0.96 0.15 0.11 0.11 - 0.04 0.18 0.02 0.12 0.09 0.09 - 0.03 0.12 0.01 0.31 0.01 0.18 + 0.13 0.08 0.03 1.48 1.11 1.38 + 0.24 1.83 1.00 0.86 0.71 0.86 + 0.09 1.28 0.68 1.15 0.95 1.15 + 0.13 1.71 0.93 0.00 0.00 0.00 - 0.00 0.01 0.00 24.08 21.48 23.84 + 2.47 27.70 19.93 17.88 16.05 17.60 + 1.66 20.85 14.64 0.35 0.32 0.33 - 0.02 0.50 0.03 0.25 0.23 0.23 - 0.02 0.38 0.03 0.10 0.00 0.09 - 0.02 0.16 0.03 0.22 0.17 0.18 - 0.03 0.37 0.06 2.97 2.46 2.51 - 0.49 5.05 2.12 0.02 0.00 0.02 + 0.01 0.04 0.00 10.09 7.98 8.06 - 1.96 12.41 4.00 13.55 10.80 10.93 - 2.49 16.17 5.74 1.83 1.01 1.06 - 0.76 3.78 1.21 1.37 0.75 0.81 - 0.55 2.73 0.90 0.40 0.00 0.40 - 0.02 0.42 0.01 1.23 0.97 1.05 - 0.11 1.66 0.24 1.70 1.40 1.40 - 0.15 2.18 0.34 3.28 0.00 3.28 + 0.05 5.48 1.00 2.31 0.00 2.31 + 0.01 4.05 1.25 0.04 0.04 0.04 - 0.00 0.20 0.02 0.28 0.23 0.24 - 0.04 0.44 0.06 0.37 0.34 0.36 + 0.01 0.38 0.05 0.33 0.23 0.26 + 0.02 0.39 0.04 0.21 0.00 0.19 + 0.02 0.24 0.03 0.07 0.06 0.06 - 0.01 0.11 0.03 0.45 0.40 0.43 + 0.01 0.91 0.29 0.60 0.55 0.58 + 0.01 1.15 0.41 0.48 0.33 0.34 - 0.14 0.60 0.05 0.63 0.45 0.48 - 0.17 0.77 0.07 0.09 0.07 0.07 - 0.02 0.15 0.02 0.05 0.00 0.04 - 0.01 0.14 0.01 0.06 0.00 0.06 + 0.01 0.09 0.01 0.07 0.07 0.07 + 0.01 0.08 0.01 0.11 0.09 0.09 - 0.02 0.11 0.01 0.03 0.00 0.03 - 0.00 0.04 0.00 0.09 0.07 0.07 - 0.01 0.10 0.05 0.06 0.04 0.05 + 0.00 0.07 0.04 0.08 0.07 0.08 + 0.00 0.20 0.03 0.13 0.10 0.11 + 0.01 0.25 0.06 0.18 0.11 0.11 - 0.01 0.20 0.03

Rackla Mtls* O 9 Rackla Mtls V 36 Radisson Mng V 470 Radius Gold V 368 Rainforest Res* O 64 V 144 Rainmaker Res Rainy Mtn Royl V 809 Rambler Ml &Mg V 276 Randgold Res* O 1 Randgold Res* D 8769 V 105 Randsburg Intl Rapier Gold V 121 Raptor Res* O 385 Rare Element* O 354 Rathdowney Res V 4 Red Eagle Mng T 2755 Red Eagle Mng* O 697 Red Hut V 85 Red Moon Potsh V 34 Red Oak Mg V 6 Red Pine Expl V 1544 Red Tiger Mng V 10 Redhawk Res T 163 Redstar Gold V 2909 Redstar Gold* O 468 Regulus Res V 227 Reliant Gold V 551 Renaissance Gd* O 137 Renforth Res 128 Resolve Vent V 463 Resource Cap V 125 Resource Cap* O 1 Reunion Gold V 869 Revelo Res V 301 Revolver Res V 682 Richmont Mines* X 2775 Richmont Mines T 2043 185 Rio Novo Gold T Rio Tinto* O 2 Rio Tinto* N 29461 Rio Tinto* O 3 161 Rise Res Inc Rise Res Inc* O 393 Riverside Res* O 475 RJK Explor* O 7 RJK Explor V 154 Rochester Res V 8 Rock Tech Lith* O 9 124 Rock Tech Lith V Rockcliff Cop V 333 Rockcliff Cop* O 46 Rockhaven Res V 489 Rockland Mnls V 78 Rockridge Cap V 194 Rockwell Diam T 291 Rodinia Lithm V 384 Rogue Res* O 34 Rogue Res V 25 Rojo Res V 251 Rokmaster Res V 236 Romios Gold Rs* O 1000 RosCan Mrnls V 867 Rosita Mg Corp* O 110 Rosita Mg Corp V 163 Roughrider Exp V 8 Roxgold* O 141 Roxgold V 2356 Royal Gold* D 4869 Royal Nickel T 2840 Royal Nickel* O 66 Royal Rd Mnrls V 1656 Royal Std Mnrl* O 487

0.11 0.11 0.11 - 0.00 0.17 0.03 0.15 0.00 0.14 - 0.01 0.22 0.05 0.20 0.17 0.19 + 0.01 0.20 0.09 0.14 0.13 0.13 - 0.01 0.17 0.05 6.00 0.00 5.95 + 0.24 8.25 0.30 0.11 0.09 0.09 - 0.01 0.25 0.07 0.11 0.00 0.11 + 0.03 0.10 0.03 0.16 0.00 0.15 + 0.03 0.16 0.05 87.55 75.70 75.70 - 15.02 120.75 59.09 90.90 73.42 73.67 - 12.22 126.55 58.80 0.02 0.00 0.01 - 0.01 0.02 0.01 0.14 0.13 0.14 + 0.01 0.17 0.04 0.00 0.00 0.00 - 0.00 0.00 0.00 0.05 0.05 0.05 - 0.00 0.28 0.04 0.19 0.00 0.19 + 0.01 0.26 0.12 1.05 0.79 0.89 - 0.14 1.05 0.79 0.79 0.61 0.66 - 0.08 0.91 0.18 0.10 0.08 0.10 + 0.02 0.29 0.02 0.05 0.03 0.05 + 0.02 0.09 0.02 0.02 0.00 0.02 + 0.01 0.02 0.01 0.13 0.10 0.11 - 0.02 0.24 0.03 0.04 0.00 0.04 + 0.01 0.10 0.03 0.06 0.00 0.05 - 0.01 0.09 0.04 0.12 0.10 0.11 - 0.01 0.17 0.03 0.09 0.08 0.08 - 0.01 0.15 0.01 1.60 1.35 1.38 - 0.02 1.87 0.19 0.03 0.03 0.03 - 0.01 0.04 0.01 0.36 0.31 0.31 + 0.01 0.52 0.08 0.04 0.03 0.04 + 0.01 0.05 0.01 0.04 0.00 0.03 - 0.01 0.30 0.03 0.24 0.20 0.23 + 0.01 0.35 0.02 0.16 0.16 0.16 - 0.03 0.26 0.02 0.07 0.05 0.05 - 0.02 0.08 0.01 0.12 0.08 0.10 + 0.01 0.11 0.05 0.21 0.13 0.14 - 0.08 0.39 0.07 9.05 6.40 6.45 - 2.75 11.66 2.79 11.97 8.67 8.80 - 3.50 15.01 3.80 0.18 0.15 0.16 - 0.01 0.30 0.07 39.35 34.73 38.75 + 4.27 39.35 21.90 40.19 34.89 39.08 + 5.15 40.19 21.89 42.55 40.70 42.55 + 1.85 42.55 25.47 0.30 0.21 0.28 - 0.02 0.35 0.11 0.26 0.17 0.20 - 0.03 0.40 0.08 0.39 0.32 0.32 - 0.02 0.39 0.08 0.14 0.11 0.14 + 0.03 0.14 0.09 0.23 0.14 0.18 + 0.02 0.25 0.05 0.07 0.06 0.06 - 0.01 0.11 0.03 0.79 0.64 0.64 - 0.11 0.83 0.02 1.08 0.78 0.87 - 0.13 1.45 0.03 0.13 0.10 0.10 - 0.02 0.16 0.02 0.10 0.08 0.08 - 0.02 0.12 0.01 0.21 0.17 0.18 - 0.02 0.29 0.10 0.06 0.05 0.05 - 0.01 0.11 0.01 0.38 0.25 0.27 - 0.11 0.57 0.05 0.07 0.00 0.07 - 0.01 0.20 0.07 0.11 0.09 0.11 + 0.01 0.16 0.09 0.29 0.00 0.29 - 0.05 0.43 0.29 0.39 0.32 0.38 + 0.01 1.50 0.35 0.11 0.10 0.10 - 0.02 0.15 0.04 0.03 0.00 0.03 - 0.01 0.05 0.01 0.07 0.07 0.07 + 0.00 0.08 0.01 0.04 0.00 0.02 - 0.02 0.04 0.01 0.04 0.03 0.03 - 0.01 0.10 0.01 0.06 0.00 0.06 - 0.01 0.14 0.01 0.06 0.06 0.06 - 0.01 0.15 0.05 1.10 0.89 0.94 - 0.08 1.35 0.46 1.47 1.21 1.27 - 0.11 1.76 0.62 79.50 65.02 65.48 - 10.34 87.74 24.68 0.35 0.31 0.32 - 0.04 0.63 0.12 0.26 0.24 0.24 - 0.01 0.50 0.10 0.15 0.09 0.11 + 0.01 0.18 0.04 0.00 0.00 0.00 + 0.00 0.00 0.00

R

2016-11-15 3:04 PM

14

WWW.NORTHERNMINER.COM

NOVEMBER 21–27, 2016 / 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

RT Minerals V 4211 RT Minerals* O 59 RTG Mining T 22 Rupert Res V 147 Rusoro Mng* O 70 Rusoro Mng V 406 Rye Patch Gold* O 1030 Rye Patch Gold V 2856

0.16 0.08 0.10 - 0.04 0.30 0.05 0.09 0.06 0.07 - 0.02 0.14 0.05 0.40 0.38 0.38 - 0.02 0.70 0.30 0.82 0.75 0.80 + 0.05 0.99 0.02 0.21 0.16 0.16 - 0.03 0.31 0.02 0.27 0.21 0.21 - 0.05 0.41 0.03 0.24 0.18 0.19 - 0.05 0.37 0.08 0.32 0.25 0.26 - 0.07 0.47 0.11

Sabina Gd&Slvr* O 961 Sabina Gd&Slvr T 1645 Saint Jean V 1292 Salazar Res* O 106 Salazar Res V 162 Sama Res V 127 Samco Gold V 22 Samex Mng* O 29 San Marco Res V 253 Sanatana Diam V 1855 V 2244 Sandspring Res Sandspring Res* O 963 Sandstorm Gold* X 12620 Sandstorm Gold T 3405 Santa Fe Gold* O 876 Santacruz Silv V 2134 Sarama Res V 1021 Sarissa Res* O 772 Satori Res* O 4 Satori Res V 107 Saturn Mnrls V 912 Savannah Gold V 69 Savant Expl V 284 Savary Gold V 863 Savary Gold* O 759 Scandium Int M* O 100 Scientific Mts V 2072 Scorpio Gold V 633 Seabridge Gld* N 4244 Seabridge Gld T 464 Search Mnls V 183 Searchlight* O 741 Select Sands V 2996 Semafo T 12390 Senator Mnrls V 75 SG Spirit Gold V 1490 Shamrock Ent 789 Sherritt Intl T 5860 Shore Gold T 1019 Shoshoni Gold V 29 Sibanye Gold* N 10134 Sibanye Gold* O 17 Sidney Resrces* O 935 Sienna Res* O 23 Sierra Metals* O 4 Sierra Metals T 43 Silver Bear Rs T 1742 Silver Bull Re* O 1593 Silver Bull Re T 622 Silver Dragon* O 2116 Silver Grail V 64 Silver Predatr V 206 Silver Range V 308 Silver Shield 159 Silver Spruce V 128 Silver Std Res T 6201 Silver Std Res* D 16244 Silver Wheaton T 12153 Silver Wheaton* N 41786 Silvercorp Met T 6587 Silvercorp Met* O 1163 Silvermet V 2267 SinoCoking Cl* D 323 Sirios Res V 1996 Sirios Res* O 71 Skeena Res* O 356 Skeena Res V 2817 Skyharbour Res V 378 O 227 Skyharbour Res* Slam Explor V 403 Sokoman Iron V 1790

1.02 0.82 0.82 - 0.19 1.55 0.38 1.37 1.12 1.12 - 0.24 1.87 0.54 0.04 0.03 0.04 + 0.01 0.07 0.03 0.10 0.10 0.10 + 0.00 0.12 0.03 0.16 0.13 0.13 - 0.02 0.16 0.03 0.12 0.10 0.10 - 0.01 0.16 0.07 0.05 0.00 0.05 + 0.01 0.13 0.02 0.01 0.00 0.00 + 0.00 0.01 0.00 0.20 0.00 0.18 - 0.01 0.30 0.02 0.02 0.02 0.02 - 0.01 0.04 0.01 0.58 0.40 0.40 - 0.20 0.94 0.11 0.44 0.29 0.30 - 0.15 0.72 0.08 4.97 3.71 3.75 - 1.13 6.75 1.94 6.60 5.03 5.08 - 1.44 8.73 2.82 0.05 0.04 0.05 + 0.00 0.07 0.00 0.46 0.38 0.39 - 0.05 0.63 0.09 0.24 0.17 0.20 - 0.02 0.55 0.05 0.01 0.00 0.00 - 0.00 0.01 0.00 0.10 0.07 0.07 - 0.03 0.13 0.02 0.12 0.09 0.10 - 0.02 0.18 0.03 0.11 0.09 0.11 + 0.02 0.22 0.08 0.08 0.06 0.07 + 0.01 0.15 0.01 0.02 0.00 0.02 + 0.01 0.03 0.01 0.10 0.09 0.09 - 0.02 0.15 0.02 0.08 0.07 0.07 - 0.00 0.12 0.06 0.13 0.11 0.12 + 0.01 0.16 0.08 0.08 0.07 0.07 - 0.01 0.10 0.07 0.09 0.07 0.08 - 0.01 0.11 0.05 11.20 9.00 9.15 - 2.20 15.88 5.46 15.00 12.25 12.37 - 2.90 20.71 7.99 0.09 0.07 0.07 - 0.03 0.11 0.05 0.13 0.06 0.11 + 0.05 0.19 0.01 1.05 0.88 0.92 - 0.05 1.21 0.20 5.35 4.25 4.31 - 0.98 7.46 2.92 0.65 0.47 0.51 - 0.14 0.80 0.05 0.13 0.10 0.12 + 0.02 0.13 0.06 0.03 0.02 0.02 - 0.01 0.06 0.01 1.04 0.84 0.92 + 0.07 1.07 0.53 0.22 0.19 0.21 + 0.02 0.25 0.17 0.05 0.05 0.05 - 0.01 0.25 0.05 12.00 9.32 9.44 - 2.23 20.97 4.59 2.84 2.50 2.50 - 0.34 5.12 1.50 0.01 0.01 0.01 + 0.00 0.02 0.00 0.11 0.10 0.10 - 0.01 0.20 0.01 1.46 1.33 1.45 + 0.02 1.69 0.69 1.98 0.00 1.95 + 0.15 2.19 0.95 0.34 0.25 0.26 - 0.09 0.53 0.02 0.14 0.10 0.11 - 0.02 0.21 0.02 0.19 0.14 0.15 - 0.03 0.28 0.04 0.01 0.01 0.01 - 0.00 0.04 0.00 0.08 0.06 0.06 - 0.03 0.16 0.02 0.06 0.00 0.05 - 0.01 0.12 0.01 0.12 0.08 0.10 - 0.01 0.24 0.02 0.05 0.04 0.04 - 0.01 0.17 0.02 0.12 0.09 0.09 - 0.02 0.14 0.05 17.20 12.66 12.71 - 2.62 20.48 5.28 12.90 9.35 9.38 - 2.06 15.84 3.66 33.50 24.09 24.28 - 7.62 40.80 14.51 24.97 17.78 17.92 - 5.88 31.35 10.04 3.82 3.00 3.13 - 0.73 4.73 0.60 2.84 2.22 2.32 - 0.54 3.67 0.41 0.05 0.00 0.05 + 0.02 0.06 0.03 4.12 1.93 3.50 + 1.58 7.60 1.66 0.49 0.33 0.39 - 0.09 1.42 0.07 0.35 0.25 0.28 - 0.09 1.13 0.07 0.09 0.06 0.06 - 0.02 0.15 0.04 0.12 0.08 0.09 - 0.03 0.20 0.06 0.32 0.26 0.32 + 0.04 0.42 0.08 0.24 0.00 0.24 + 0.03 0.32 0.19 0.07 0.06 0.06 - 0.01 0.15 0.01 0.08 0.06 0.07 - 0.01 0.13 0.01

S

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Sokoman Iron* O 138 Solitario Ex&R T 72 X 394 Solitario Ex&R* Source Expl V 176 Southern Arc V 25 Southern Arc* O 11 N 13964 Southern Copp* Southern Lith V 480 Southern Silvr* O 404 Southern Silvr V 739 SouthGobi Res T 3 Spanish Mtn Gd* O 18 Spanish Mtn Gd V 1070 Sparton Res V 828 V 25724 Spearmint Res St Augustine T 312 O 25 Stakeholdr Gld* Stakeholdr Gld V 228 Standard Graph V 212 O 23 Standard Graph* O 134 Standard Metal* Stans Energy V 809 Stans Energy* O 135 Star Gold* O 24 Starcore Intl T 277 Starr Peak Exp V 9 Stelmine Can V 23 Stillwater Mg* N 9766 Stina Res* O 63 Stina Res 369 Stonegate Agri* O 42 Stornoway Diam T 4236 Stratabd Mnr V 2272 Strategic Metl V 267 Strategic Res V 4 Stratton Res V 51 Stria Lithium V 644 Strikepoint Gd* O 14 Strongbow Expl V 1121 Sulliden Mng T 175 Sultan Mnrls V 70 Suncor Energy T 14246 Suncor Energy* N 18778 Sunridge Gold* O 2047 Sunset Cove Mg V 1809 Sutter Gold* O 31

0.06 0.04 0.04 - 0.01 0.08 0.03 0.99 0.86 0.86 - 0.09 1.29 0.57 0.82 0.64 0.66 - 0.02 0.95 0.41 0.21 0.19 0.19 - 0.01 0.50 0.10 0.60 0.51 0.51 - 0.04 1.09 0.24 0.44 0.38 0.38 - 0.06 0.75 0.17 34.79 27.58 32.80 + 5.47 34.03 21.55 0.38 0.30 0.37 - 0.01 0.49 0.01 0.32 0.23 0.25 - 0.09 0.52 0.02 0.43 0.33 0.33 - 0.13 0.66 0.03 0.33 0.00 0.33 + 0.02 0.65 0.21 0.11 0.08 0.08 - 0.03 0.17 0.01 0.14 0.11 0.12 - 0.02 0.22 0.02 0.07 0.06 0.06 - 0.02 0.09 0.02 0.04 0.02 0.03 + 0.01 0.06 0.01 0.06 0.05 0.06 + 0.01 0.14 0.05 0.42 0.35 0.37 - 0.08 0.67 0.05 0.57 0.46 0.46 - 0.15 0.89 0.04 0.06 0.05 0.06 + 0.01 0.13 0.01 0.04 0.03 0.03 - 0.00 0.09 0.00 0.08 0.06 0.07 - 0.01 0.21 0.01 0.06 0.05 0.06 + 0.01 0.09 0.01 0.04 0.03 0.04 - 0.00 0.06 0.01 0.14 0.00 0.11 + 0.01 0.20 0.05 0.62 0.52 0.53 - 0.12 0.91 0.25 0.17 0.08 0.08 - 0.09 0.19 0.05 0.37 0.31 0.34 + 0.01 0.38 0.05 15.18 13.48 14.83 + 1.15 15.91 4.99 0.07 0.06 0.06 - 0.01 0.16 0.05 0.09 0.08 0.08 - 0.01 0.19 0.08 0.01 0.01 0.01 - 0.00 0.03 0.00 1.13 1.03 1.04 - 0.07 1.33 0.66 0.06 0.00 0.05 + 0.02 0.08 0.02 0.60 0.50 0.50 - 0.12 0.86 0.24 0.15 0.13 0.13 - 0.02 0.34 0.08 0.65 0.60 0.60 - 0.05 0.85 0.07 0.05 0.04 0.05 - 0.01 0.18 0.03 0.27 0.25 0.25 - 0.02 0.27 0.08 0.16 0.14 0.15 + 0.01 0.25 0.06 0.41 0.36 0.39 + 0.01 0.47 0.19 0.10 0.00 0.08 - 0.02 0.20 0.05 41.29 39.03 39.53 + 0.40 42.14 27.32 30.77 28.81 29.17 - 0.01 31.52 18.71 0.04 0.03 0.03 + 0.00 0.29 0.01 0.16 0.10 0.15 + 0.03 0.17 0.07 0.03 0.03 0.03 - 0.00 0.13 0.02

Tahoe Res T 7378 Tahoe Res* N 19275 Taku Gold* O 6 Taku Gold 18 Talon Metals T 101 Tamino Mnrls* O 1991 Tango Mining V 304 Tantalex Res 1437 Tanzania Rlty T 258 Tanzania Rlty* X 1740 Tarku Res V 50 Tartisan Res 474 Tasca Res V 234 Taseko Mines T 2814 Taseko Mines* X 4662 Teck Res T 22120 Teck Res* N 47367 T 50 Teck Res Telferscot Res 116 Telson Res * O 16 Telson Res V 302 Tembo Gold V 122 Tembo Gold* O 104 Teranga Gold T 8555 Teras Res V 261 Terraco Gold V 174 Terrax Mnrls* O 63 Terrax Mnrls V 888 Teslin Rvr Res V 257 Tesoro Mnrls V 57 Teuton Res* O 33 Teuton Res V 215

15.37 13.12 13.16 - 2.04 22.13 9.45 11.50 9.67 9.70 - 1.64 17.01 6.48 0.05 0.05 0.05 + 0.00 0.14 0.01 0.13 0.00 0.13 + 0.06 0.22 0.02 0.07 0.06 0.07 - 0.01 0.15 0.06 0.00 0.00 0.00 + 0.00 0.00 0.00 0.02 0.00 0.02 + 0.01 0.14 0.01 0.15 0.10 0.14 + 0.02 0.18 0.01 0.95 0.67 0.69 - 0.22 1.95 0.24 0.70 0.50 0.51 - 0.17 1.49 0.17 0.04 0.04 0.04 - 0.01 0.10 0.02 0.04 0.03 0.04 + 0.01 0.10 0.01 0.13 0.10 0.12 + 0.01 0.21 0.00 0.85 0.60 0.76 + 0.16 0.88 0.35 0.64 0.45 0.56 + 0.11 0.70 0.23 30.88 28.45 30.54 + 2.38 30.88 3.65 22.98 21.00 22.59 + 1.56 22.98 2.56 31.98 28.85 30.42 + 2.37 30.98 5.69 0.02 0.02 0.02 + 0.01 0.05 0.01 0.20 0.00 0.11 - 0.11 0.43 0.07 0.30 0.16 0.16 - 0.11 0.55 0.04 0.05 0.00 0.05 + 0.01 0.07 0.01 0.04 0.03 0.03 - 0.01 0.06 0.01 1.04 0.85 0.87 - 0.17 1.40 0.38 0.19 0.15 0.15 - 0.01 0.21 0.03 0.16 0.14 0.15 - 0.02 0.19 0.08 0.53 0.43 0.47 - 0.06 0.80 0.17 0.80 0.57 0.63 - 0.09 1.05 0.24 0.25 0.22 0.22 - 0.01 0.43 0.20 0.07 0.05 0.07 + 0.02 0.08 0.01 0.17 0.13 0.14 - 0.04 0.34 0.03 0.23 0.16 0.17 - 0.07 0.46 0.04

T

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Theia Res V 80 Themac Res V 6 Thor Expl V 85 Thunder Mtn Gd* O 13 Thunderstruck V 790 Till Capital V 3 Till Capital* D 14 Timberline Res V 157 Timberline Res* O 325 Timmins Gold T 12700 15554 Timmins Gold* X Tinka Res* O 623 Tinka Res V 1077 Tintina Mines V 54 Tintina Res* O 490 Tirex Res* O 159 Titanium Corp V 174 TMAC Resource* O 143 T 428 TMAC Resources TNR Gold V 443 207 Toachi Mg Inc V TomaGold V 936 Tombstone Expl* O 5347 Tonogold Res* O 84 Torex Gold* O 260 Torex Gold T 3845 Tower Res V 170 Transatlan Mng V 842 Transition Mtl V 141 Treasury Metal T 1114 Trecora Res* N 209 Trevali Mng* O 391 Trevali Mng T 11789 232 Tri Origin Exp V Tri-River Vent V 4 TriMetals Mng* O 248 O 172 TriMetals Mng* TriMetals Mng T 302 Trio Resources* O 451 TriStar Gold* O 91 TriStar Gold V 159 Trueclaim Expl V 29 Tsodilo Res V 66 Tudor Gold V 109 O 11 Tudor Gold * Turquoise HIl T 11859 Turquoise HIl* N 25161 Tyhee Gold* O 983 Typhoon Expl V 55

0.15 0.13 0.15 + 0.02 0.20 0.05 0.05 0.00 0.05 - 0.01 0.10 0.01 0.12 0.00 0.11 + 0.01 0.16 0.02 0.10 0.00 0.10 + 0.01 0.16 0.02 0.09 0.07 0.09 + 0.01 0.20 0.01 5.05 0.00 5.05 + 0.05 6.00 3.28 4.12 0.00 4.00 + 0.13 5.00 2.76 0.68 0.55 0.56 - 0.12 0.73 0.16 0.50 0.25 0.41 - 0.09 0.53 0.08 0.64 0.45 0.46 - 0.20 0.80 0.11 0.48 0.33 0.34 - 0.15 0.63 0.07 0.16 0.14 0.16 + 0.00 0.22 0.07 0.22 0.20 0.22 + 0.02 0.27 0.09 0.06 0.04 0.04 - 0.03 0.12 0.04 0.06 0.05 0.06 + 0.01 0.12 0.04 0.07 0.05 0.06 - 0.00 0.16 0.05 0.50 0.46 0.49 + 0.01 1.15 0.31 14.29 11.27 11.44 - 1.96 15.16 9.26 19.25 15.22 15.65 - 2.28 20.18 5.95 0.04 0.00 0.04 + 0.01 0.09 0.01 0.44 0.00 0.40 - 0.04 0.59 0.03 0.09 0.07 0.08 - 0.01 0.17 0.04 0.01 0.01 0.01 - 0.00 0.02 0.00 0.05 0.03 0.04 - 0.02 0.07 0.01 17.83 13.75 13.91 - 3.67 27.34 7.97 23.97 18.62 18.85 - 4.70 35.17 10.90 0.16 0.15 0.15 - 0.01 0.21 0.01 0.07 0.06 0.06 - 0.01 0.15 0.03 0.18 0.17 0.17 + 0.01 0.25 0.07 0.72 0.56 0.57 - 0.15 0.85 0.32 12.10 10.03 11.90 + 2.05 14.80 8.17 0.84 0.77 0.82 + 0.05 0.87 0.18 1.15 1.02 1.11 + 0.08 1.13 0.25 0.08 0.05 0.05 - 0.02 0.08 0.02 0.03 0.00 0.03 - 0.03 0.07 0.03 0.20 0.17 0.17 - 0.02 0.28 0.04 0.17 0.11 0.16 + 0.01 0.32 0.06 0.26 0.23 0.23 - 0.02 0.36 0.06 0.00 0.00 0.00 - 0.00 0.00 0.00 0.29 0.25 0.25 - 0.04 0.41 0.10 0.39 0.32 0.34 - 0.05 0.53 0.14 0.04 0.03 0.03 - 0.01 0.05 0.01 0.74 0.59 0.59 - 0.20 0.90 0.50 0.71 0.60 0.67 + 0.02 2.50 0.05 0.49 0.48 0.48 - 0.01 1.26 0.48 4.67 3.92 4.57 + 0.65 4.72 2.30 3.47 2.92 3.37 + 0.44 3.67 1.55 0.01 0.00 0.00 + 0.00 0.02 0.00 0.10 0.00 0.08 - 0.01 0.15 0.03

U.S. Lithium* O 3511 U3O8 Corp* O 194 U3O8 Corp T 2925 205 Ucore Rare Mtl* O UEX Corp T 1406 Ultra Lithium V 119 Umbral Enrgy* O 19 Unigold* O 46 Unigold V 446 United Res Hdg* O 44 134 United States A* X United States S* N 127528 Unity Energy V 51 Ur-Energy* X 1107 Ur-Energy T 221 Uragold Bay Rs V 1568 Uranium Energy* X 2165 Uranium Res* D 2082 US Energy* D 116 457 US Precious M* O US Tungsten* O 164 USCorp* O 24 Vale* N 253405 N 103620 Vale* Valencia Vent V 3 ValGold Res V 422 Valley High Mg* O 1609 Valterra Res V 193 Vanadiumcorp V 489

0.04 0.03 0.04 + 0.01 0.15 0.01 0.02 0.01 0.02 - 0.00 0.03 0.01 0.03 0.02 0.02 - 0.01 0.04 0.02 0.25 0.22 0.22 - 0.00 0.35 0.16 0.19 0.16 0.18 + 0.01 0.29 0.11 0.17 0.00 0.16 - 0.01 0.35 0.07 0.03 0.02 0.02 - 0.01 0.08 0.02 0.24 0.00 0.20 - 0.03 0.51 0.06 0.33 0.00 0.28 - 0.04 0.69 0.08 0.02 0.01 0.01 - 0.01 0.05 0.01 0.42 0.37 0.42 + 0.02 0.60 0.16 25.78 20.01 25.71 + 5.85 27.64 6.15 0.07 0.00 0.07 + 0.01 0.48 0.07 0.49 0.43 0.48 + 0.05 0.73 0.43 0.65 0.57 0.65 + 0.06 0.98 0.57 0.16 0.13 0.13 - 0.02 0.31 0.02 1.00 0.86 0.92 + 0.05 1.47 0.65 1.20 0.97 1.08 - 0.09 9.24 0.97 1.49 1.25 1.38 + 0.08 3.03 0.67 0.01 0.01 0.01 - 0.00 0.06 0.00 0.00 0.00 0.00 + 0.00 0.00 0.00 0.00 0.00 0.00 + 0.00 0.03 0.00 8.10 7.01 7.69 + 1.02 8.10 2.13 7.50 6.65 6.98 + 0.66 7.50 1.55 0.10 0.00 0.10 - 0.05 0.40 0.07 0.04 0.03 0.03 - 0.01 0.08 0.01 0.00 0.00 0.00 - 0.00 0.02 0.00 0.05 0.04 0.05 - 0.02 0.09 0.01 0.05 0.04 0.05 + 0.01 0.06 0.02

U-V

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Vangold Res V 127 Vangold Res* O 0 Vatic Vent V 169 N 1871 Vedanta* Vendetta Mng V 1259 O 450 Vendetta Mng* Vendome Res V 25 Verde Potash T 64 Veris Gold* O 4 Victoria Gold V 4863 Victory Res V 830 Virginia Enrgy V 166 O 1 Virginia Enrgy* Vista Gold* X 7020 Vista Gold T 412 Voltaic Min V 871 Vulcan Mnrls V 126

0.02 0.05 - 0.01 0.09 0.05 0.05 0.00 0.00 - 0.00 0.06 0.00 0.00 0.04 0.08 - 0.01 0.24 0.08 0.00 13.39 + 0.88 13.66 3.52 13.66 12.84 0.05 0.11 + 0.01 0.14 0.12 0.10 0.08 0.09 + 0.02 0.10 0.09 0.08 0.05 0.18 + 0.01 0.35 0.22 0.00 0.13 0.25 - 0.05 0.48 0.28 0.24 0.00 0.00 + 0.00 0.01 0.00 0.00 0.13 0.53 - 0.10 0.80 0.68 0.50 0.02 0.03 - 0.01 0.09 0.04 0.03 0.04 0.05 + 0.01 0.10 0.05 0.00 0.02 0.03 + 0.00 0.06 0.03 0.02 0.26 0.87 - 0.18 2.09 1.14 0.87 0.35 1.18 - 0.22 2.73 1.54 1.17 0.03 0.07 - 0.01 0.52 0.08 0.06 0.02 0.01 0.08 + 0.05 0.05 0.00

Walker River V 3976 T 1083 Wallbridge Mng 10999 O Walter Energy* Waseco Res V 369 Wealth Mnrls* O 265 Wealth Mnrls V 790 Wellgreen Plat T 503 O 438 Wellgreen Plat* V 194 Wescan Gldflds T 1425 Wesdome Gold 633 V West Af Res 232 West High Yld V West Kirkland V 537 25 West Red Lake* O 368 West Red Lake X 311 Western Copper* T 388 Western Copper 94 Western Pac Rs V Western Uran* O 5 V 295 Westhaven Vent O 45 Westhaven Vent* O 262 Westkam Gold* Westmoreland* D 2587 O 10 WestMountain* 108 White Metal Rs V 219 White Mtn Engy* O O 27 Whitehaven Coa* Wildcat Expl* O 365 Wildcat Expl V 440 O 5 Wincash Apolo* 486 Winston Gld Mg 149 Winston Gld Mg* O Wolfden Res V 701 Wolfeye Res V 156 V 20 Wolverine Mnls WPC Res V 1298 X-Terra Res V 26 Xander Res V 444 Xiana Mng V 8 Ximen Mng V 301 Ximen Mng* O 33 V 74 Xtierra O 40 Xtra-Gold Res* Yamana Gold T 42406 96952 Yamana Gold* N Yanzhou Coal* N 289 Yanzhou Coal* O 3 T 665 Yellowhead Mng Yorbeau Res T 852 Zadar Vent V 991 Zazu Metals T 208 Zazu Metals* O 50 Zena Mng V 56 Zenyatta Vent V 264 O 61 Zenyatta Vent* Zephyr Mnls* O 3 Zephyr Mnls V 24 Zimtu Capital V 49 Zincore Mtls V 752 Zonte Mtls V 187

0.03 0.12 - 0.04 0.18 0.18 0.11 0.02 0.04 - 0.01 0.10 0.06 0.04 0.01 0.23 + 0.16 0.25 0.25 0.06 0.02 0.10 + 0.02 0.11 0.11 0.08 0.10 0.91 + 0.03 1.16 0.94 0.87 0.14 1.22 + 0.05 1.50 1.25 1.16 0.16 0.43 - 0.05 0.62 0.50 0.43 0.12 0.32 - 0.02 0.46 0.38 0.31 0.02 0.08 + 0.01 0.11 0.11 0.08 0.98 2.37 - 0.51 3.08 2.85 2.30 0.32 0.29 0.29 - 0.01 0.40 0.05 0.17 0.11 0.11 - 0.04 0.30 0.13 0.04 0.10 - 0.02 0.17 0.12 0.10 0.19 0.16 0.17 - 0.02 0.31 0.02 0.26 0.22 0.24 - 0.01 0.40 0.01 0.20 0.82 + 0.05 1.04 0.89 0.76 0.29 1.10 + 0.07 1.35 1.22 1.02 0.03 0.02 0.02 - 0.01 0.05 0.01 1.01 1.28 - 0.01 2.67 1.30 1.28 0.04 0.11 - 0.02 0.16 0.14 0.11 0.08 0.09 + 0.01 0.12 0.09 0.08 0.01 0.03 - 0.01 0.07 0.04 0.03 15.64 + 3.17 15.70 3.44 15.74 11.90 0.04 0.04 + 0.00 0.20 0.04 0.04 0.06 0.05 0.05 + 0.01 0.13 0.02 0.06 0.04 0.04 - 0.02 0.35 0.04 0.25 2.45 + 0.19 2.50 2.47 2.26 0.02 0.09 - 0.03 0.16 0.12 0.08 0.03 0.12 - 0.04 0.21 0.16 0.12 0.05 0.01 0.10 0.05 - 0.05 0.05 0.44 0.39 0.40 - 0.03 0.64 0.10 0.33 0.28 0.29 - 0.03 0.49 0.10 0.05 0.10 - 0.02 0.19 0.11 0.10 0.23 0.25 - 0.02 0.35 0.27 0.25 0.07 0.11 + 0.03 0.18 0.11 0.00 0.03 0.08 - 0.02 0.13 0.11 0.08 0.06 0.16 - 0.03 0.31 0.17 0.00 0.31 0.31 - 0.02 0.49 0.34 0.31 0.03 0.13 - 0.06 0.21 0.18 0.13 0.03 0.11 - 0.01 0.18 0.11 0.10 0.02 0.08 - 0.00 0.13 0.09 0.08 0.01 0.04 - 0.02 0.08 0.05 0.00 0.15 0.19 - 0.01 0.43 0.20 0.18 2.00 4.07 - 0.88 7.87 5.10 4.03 1.38 3.01 - 0.69 5.99 3.80 2.98 3.66 7.74 + 0.36 8.09 7.76 7.31 0.39 0.77 - 0.01 0.83 0.77 0.74 0.03 0.06 + 0.02 0.10 0.07 0.00 0.06 0.13 + 0.01 0.14 0.14 0.12 0.01 0.10 - 0.02 0.26 0.11 0.09 0.09 0.16 - 0.01 0.33 0.18 0.15 0.08 0.12 - 0.02 0.24 0.13 0.12 0.05 0.06 - 0.02 0.10 0.08 0.06 0.63 0.92 - 0.20 1.55 1.11 0.92 0.47 0.70 - 0.12 1.17 0.82 0.70 0.15 0.28 + 0.00 0.30 0.28 0.28 0.08 0.33 + 0.01 0.42 0.34 0.32 0.12 0.17 - 0.01 0.38 0.19 0.17 0.03 0.09 - 0.06 0.30 0.12 0.08 0.03 0.08 + 0.02 0.15 0.11 0.06

W-Z

BID-ASK — NOVEMBER 7–11, 2016

STOCK

12-MONTH

EXC BID ASK LAST HIGH

37 Capital One Acme Res Corp Active Growth Aftermath Slvr Aida Minerals Alberta Star Alderon Iron* Alexandra Cap Allante Potash Amanta Res Amato Expl American Lith APAC Res Inc Appia Energy Arch Coal* Argentum Silvr Astar Mnls Astur Gold Atlatsa Res* Balto Res BE Res Bearclaw Cap Benz Mining Bethpage Cap BHK Mining Big Wind Cap Bird River Res Black Bull Res Bluenose Gold Boss Power Bullion Gld Res Cairo Res Canuc Res Carrie Arran Cascade Res Cassidy Gold Cassius Vents Central Iron Chantrell Vent Chieftain Mtls Chinapintza Mg CIM Intl Grp Clear Mtn Res Cliffs Nat Res* Clydesdale Res CMX Gold & Sil CNRP Mng Compliance Egy Cricket Res Declan Res DGS Mnls Duncan Park H DV Resources Enfield Expl European Metal Fire River Gol First Idaho GAR Limited GFM Res

12-14_Nov 21_StockTables.indd 14

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

0.10 0.50 0.10 0.25 0.01 0.03 0.02 0.03 0.05 0.06 0.05 0.10 ... 0.01 0.01 0.03 0.10 0.12 0.12 0.23 0.20 0.22 0.20 0.23 ... 0.40 0.14 0.52 0.02 ...

0.03 0.03 0.06 0.35 0.06 0.06 0.01 0.02 0.01 0.05 0.06 0.06 0.10 0.34 0.34 0.34 1.62 0.08 0.14 0.08 0.14 0.15 0.20 0.15 0.30 ... ...

0.58 0.28 0.29 0.28 0.35 0.16 ...

0.16 0.16 0.06 0.08 0.08 0.10 ... ...

0.06 0.45 0.01 0.03 0.01 0.03 ... 0.34 0.35 0.04 0.06 0.06 0.06 0.03 0.03 0.03 0.08 0.06 0.10 0.10 0.10 0.03 0.05 0.03 0.09 0.07 0.12 0.07 0.19 0.06 0.09 0.05 0.07 ...

0.01 0.01 0.02 0.04 0.02 0.04 0.17 0.20 0.17 0.09 0.13 0.10 0.15 0.30 0.38 0.35 0.39 0.23 0.29 0.25 0.27 0.05 ...

0.05 0.07 0.02 0.04 0.02 0.05 0.01 0.02 0.02 0.04 0.03 0.06 0.03 0.05 0.02 0.03 0.03 0.03 0.09 0.11 0.11 0.19 ... ...

0.05 0.23 0.01 0.02 0.01 0.01 ...

0.90 0.90 1.50 0.82 0.85 0.82 0.99 1.45 3.20 1.43 7.17 0.03 ...

0.05 0.05 0.09 0.10 0.10 0.10 0.01 0.03 0.01 0.01 0.03 0.03 0.03 0.25 0.01 0.10 0.01 0.02 0.01 0.01 0.01 0.02 0.04 0.09 0.04 0.06 0.02 0.02 0.02 0.03 0.03 0.04 0.04 0.06 ... ...

0.01 0.01 ... 0.01 0.01 0.01 0.03 0.07 0.09 0.75 0.10 0.20 0.14 0.14 0.02 0.04 0.04 0.05 0.02 0.10 0.02 0.03

LOW

STOCK

0.05 0.02 0.02 0.01 0.08 0.16 0.12 0.03 0.01

Global Cobalt V Global Cop Grp V Gold Jub Cap V Goldbelt Emp V Goldstream Mnl V GoldTrain Res C Greatbanks Res V Greywacke Expl C HFX Holding V Highbury Proj V Highvista Gold V Indigo Expl V Interconnect V Iron South Mng V JDF Explor Inc C Jet Metal V Jiulian Res V Jubilee Gold V Kairos Cap V Karoo Expl V Kazax Mnls V Kestrel Gold V Kootenay Zinc C La Imperial C Lions Bay Cap V Lucky Mnls V Maccabi Vent C Madeira Mrnls V Mag Copper C MAG Silver* X Mainstream Mnl V Martina Mnls V Matachewan Con V Match Capital V MaxTech Vent C Mega Copper V Meryllion Res C Metallum Res V Metalo Manuf C Mezzotin Mnrls V MillenMin Vent V Milner Con Slv V Mitchell Res V Moag Copper C Montan Mg V Montana Gold C Morgan Res V Mountain Lake C Navy Res V Nebu Res V Network Expl V New Klondike V North Am Ptash V North Am Tung V NRG Metals V NSS Res Inc C Open Gold V Oriental Non F C Oxford Res V

0.01 0.05 0.03 0.01 0.02 0.09 0.01 0.06 0.01 0.02 0.01 0.03 0.03 0.01 0.01 0.01 0.05 0.13 0.05 0.05 0.02 0.01 0.01 0.01 0.06 0.03 0.01 0.55 0.10 0.98 0.01 0.05 0.01 0.03 0.01 0.01 0.04 0.01 0.03 0.01 0.01 0.03 0.05 0.01 0.02

12-MONTH

EXC BID ASK LAST HIGH LOW

0.02 0.02 0.02 0.08 0.07 0.08 0.08 0.11 0.15 0.17 0.15 0.28 0.04 0.05 0.04 0.10 0.10 0.14 0.08 0.40 0.04 0.10 0.06 0.25 0.03 0.05 0.03 0.06 ...

0.06 0.06 0.04 0.06 0.06 0.09 0.27 ...

0.27 0.27 ... 0.16 0.17 0.03 0.04 0.03 0.04 0.07 0.17 0.06 0.14 0.24 0.27 0.24 0.28 0.01 0.04 0.01 0.01 0.10 0.10 0.09 0.12 0.03 0.04 0.03 0.05 0.35 0.70 0.33 0.75 0.04 0.07 0.04 0.09 0.01 0.02 0.01 0.02 0.01 0.01 0.01 0.04 0.02 0.02 0.02 0.07 0.20 0.40 0.20 0.22 0.05 0.13 0.05 0.08 0.04 0.06 0.04 0.04 0.13 0.18 0.12 0.12 0.06 0.10 0.06 0.14 0.02 0.03 0.02 0.03 0.01 0.03 0.03 0.03 12.52 13.30 12.52 14.40 ... 0.01 0.01 0.03 0.05 0.03 0.06 0.28 0.34 0.30 0.49 0.01 0.04 0.04 0.04 0.24 ...

0.24 0.26 0.06 0.10 0.06 0.06 0.03 0.05 0.03 0.05 0.03 0.06 0.12 0.30 0.64 0.51 1.50 0.01 0.03 0.02 0.04 0.05 0.07 0.05 0.14 0.04 0.05 0.04 0.07 0.10 0.19 0.10 0.14 ... ...

0.08 0.06 0.06 0.05 0.10 0.09 0.10 0.10 0.10 0.01 0.02 0.01 0.02 ... 0.01 0.01 0.01 0.17 0.30 0.19 0.30 0.01 0.02 0.01 0.03 0.17 0.23 0.17 0.22 0.01 0.01 0.01 0.05 0.08 0.04 0.15 ...

0.01 0.01 0.02 0.11 0.11 0.11 0.18 ... ...

0.20 0.01 0.01 0.01 0.79 0.90 0.79 0.87 0.02 0.03 0.03

0.01 0.04 0.07 0.02 0.08 0.05 0.04 0.03 0.13 0.01 0.05 0.04 0.01 0.07 0.01 0.30 0.02 0.01 0.01 0.01 0.06 0.01 0.01 0.05 0.06 0.02 0.01 6.12 0.02 0.21 0.01 0.05 0.02 0.01 0.30 0.01 0.01 0.02 0.02 0.02 0.02 0.01 0.01 0.15 0.01 0.02 0.03 0.01 0.02 0.27

STOCK

Pac Arc Res Pac Cascade Pan Global Res Peat Res Pedro Res Phoenix Gold Phoenix Metals Planet Mng Portofino Res Prime Meridian ProAm Expl Prospector Res Rare Element* Ravencrest Res Razore Rock Res Red Rock Enrgy Remington Res Remo Res Rhyolite Res Riley Resource River Wild Exp Rockex Mng Rockshield Cap Romulus Res Rotation Mnls Royal Sapphire Rubicon Mnrls Rubicon Mnrls* Saville Res Savoy Vent Scavo Res SGX Res Silver Phoenix Sniper Res Spruce Ridge R Squire Mg Ltd Standard Toll Stone Ridge Ex Strata Mnls Swift Res Talmora Diamd Tanqueray Expl Tearlach Res Teryl Res Corp Troy Enrgy True Grit Res UC Res United Coal Universal Vent Vela Minerals Velocity Mnrls Venerable Vent Volcanic Mtls WCB Res Westridge Res Whitemud Res Zinco Mng

12-MONTH

EXC BID ASK LAST HIGH LOW

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

0.10 0.14 0.10 0.50 0.01 0.02 0.01 0.02 0.04 0.05 0.04 0.08 0.03 0.03 0.03 0.07 0.14 0.17 0.17 0.27 ... 0.01 0.01 0.01 0.19 0.20 0.21 0.21 0.04 0.05 0.04 0.08 0.09 0.10 0.09 0.12 0.12 0.15 0.14 0.18 0.02 0.03 0.02 0.02 0.03 0.95 0.04 0.06 0.11 0.16 0.15 0.89 0.01 ...

0.02 0.02 0.01 0.04 0.04 0.08 0.01 0.01 0.01 0.03 0.07 0.10 0.07 0.07 0.09 0.15 0.09 0.10 0.23 0.35 0.23 0.27 0.05 ...

0.13 0.13 0.01 ...

0.01 0.01 0.04 0.06 0.06 0.75 0.05 0.08 0.05 0.11 0.11 0.20 0.11 0.17 0.25 0.30 0.30 0.30 0.04 0.06 0.04 0.07 0.05 0.05 0.05 0.23 ... ...

0.03 1.35 0.03 0.04 0.02 0.05 ... ...

0.16 0.36 0.57 0.36 0.54 0.02 0.02 0.02 0.05 0.12 0.25 0.12 0.12 0.01 0.01 0.01 0.07 0.04 0.05 0.04 0.05 0.11 0.17 0.16 0.19 ... 0.01 0.01 0.05 0.05 0.09 0.04 0.17 0.01 0.02 0.01 0.05 0.20 0.24 0.25 0.25 0.01 0.05 0.05 0.05 0.18 0.38 0.17 0.17 0.08 0.15 0.08 0.16 0.01 0.02 0.02 0.02 0.02 0.05 0.02 0.05 0.02 0.04 0.02 0.05 0.01 0.02 0.02 0.03 ... 0.01 0.01 0.40 ...

0.45 0.04 0.06 0.04 0.08 0.18 0.22 0.18 0.19 0.12 0.18 0.15 0.18 0.23 0.30 0.23 0.23 0.03 0.04 0.03 0.08 0.01 0.03 0.01 0.02 0.01 0.01 0.01 0.03 0.05 0.07 0.05 0.08

0.05 0.01 0.01 0.01 0.01 0.01 0.02 0.02 0.06 0.05 0.01 0.01 0.06 0.01 0.01 0.01 0.02 0.05 0.09 0.10 0.01 0.02 0.04 0.08 0.02 0.03 0.02 0.03 0.01 0.26 0.01 0.01 0.01 0.01 0.10 0.01 0.04 0.01 0.01 0.01 0.02 0.02 0.01 0.01 0.01 0.01

0.03 0.06 0.05 0.04 0.02 0.01 0.01 0.01

2016-11-15 3:05 PM

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2016-11-15 3:03 PM

16

WWW.NORTHERNMINER.COM

NOVEMBER 21–27, 2016 / THE NORTHERN MINER

Precipitate Gold CEO outlines strategy at Juan de Herrera DOMINICAN REPUBLIC

BY MATTHEW KEEVIL

E

mkeevil@northernminer.com VANCOUVER

xplorer Precipitate Gold (TSXV: PRG; US-OTC: PREIF) is ready to get drills turning at its flagship Juan de Herrera gold project in the Dominican Republic, two years after making its initial discovery at the Ginger Ridge target.

The company has been judicious with its cash during the intervening period and its lean markets, and used that time to refine its regional mapping and geological models with more ground magnetics and soil geochemistry.

Previous field programs at Ginger Ridge uncovered a gold-enriched, massive sulphide mineralization zone that has a potential gold exploration strike in excess of 1 km. Precipitate wrapped up a maiden drill program at the target in September 2014, which was highlighted by 18 metres of 4.54 grams gold per tonne from 84 metres deep in discovery hole 5. The intercept was contained within 98 metres of strongly disseminated, semi-massive to massive sulphides.

Precipitate subsequently agreed to a data-sharing and collaboration agreement with Goldquest Mining (TSXV: GQC; US-OTC: GDQMF), which is advancing engineering studies on its multimillion-ounce Romero gold-copper project nearby.

The companies will combine exploration databases, including airborne and surface geophysical surveys, geology and alteration mapping, and drill and surface sampling results.

“We’re working along the emerging Tireo gold trend, which hasn’t received a lot of attention historically. We’re talking about fairly benign-looking terrain with limited outcrop, but it has really emerged in the past decade on the back of gold discoveries that now total 5 million ounces. The entire belt we’re looking at here has seen limited systematic exploration,”

| Drilling to build on past year’s prospecting and soil sampling

president and CEO Jeffrey Wilson said during an interview in Vancouver.

“We did the initial follow-up geophysics in 2015, but since then we’ve really looked for the capital to go in and drill again. The markets have been pretty tough, and we weren’t interested in diluting ourselves at low share prices. We also felt even if we did the work the market wouldn’t reward us for it.”

Precipitate has spent the past year prospecting and completing grid and ridge-spur soil sampling on “multiple new, anomalously mineralized areas,” which show similar “geochemical and geophysical characteristics to known mineralized zones in the Tireo region.”

Meanwhile, the company funded new induced-polarization (IP) survey work at Ginger Ridge in anticipation of a follow-up drill program. The next stage will involve geophysical surveys on the geochemical anomalies JT, South East, Jengibre South, Peak and Melchor areas.

The company’s gold-copper exploration focus is the Tireo formation volcanic rocks, which reportedly host a variety of mineral occurrences, including: volcanogenic massive sulphide, porphyry-skarn and low- to high-sulphidation epithermal. Mineralization at Ginger Ridge appears to show “characteristics of a volcanogenic massive sulphide model,” and possibly a low-sulphidation epithermal.

“We start with regional airborne surveys, and come down and typically complete ground magnetics.

From there we get into inducedpolarization, and we’ve done a few different variants on that technology,” Wilson continued. “Right now we’re doing more traditional pole-dipole array work. That initial discovery hole helped us determine we were looking for a signature marked by a chargeability high situated beneath the geochemistry at surface. Our question was always: ‘Is there more of that out there?’”

Drillers at the Ginger Ridge target on the Juan de Herrera gold project in the Dominican Republic. PRECIPITATE GOLD

On Nov. 7, Precipitate outlined the details of a 2,000-metre drill program at Ginger Ridge that will step out along the projected strike of geophysical and geochemical anomalies hosting the

discovery hole.

Initial drill holes will be collared up to 50 metres north and south from hole 5 to test “on-strike gold mineralization coincident with the core of the chargeability high

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anomalies.” Drilling will then move north to a second high-priority area at Ginger Ridge that has the “strongest IP chargeability readings and most robust surface geochemical soil-rock values.”

“We haven’t been delayed with follow-up drilling at Ginger Ridge due to permitting or any related concerns,” Wilson said. “It’s just that the geophysical gear has been on the site, and it has prevented us from moving in the drill rigs. That work has already wrapped up, and we’ve mobilized the drill rigs and expect to get the program started within the next two weeks.”

In July, Precipitate closed a $2.6-million non-brokered private placement wherein it issued 10.4 million units. Each unit was priced at 25¢ and entitles the holder to one share and one warrant exercisable at 35¢ for 12 months. The company reported $2.8 million in working capital at the end of August.

The company has traded in a 52week range of 6¢ to 37¢ per share, and closed at 20¢ at press time.

Precipitate has 64 million shares outstanding for an $11-million market capitalization.

“After our most recent financing we have sufficient capital to expand the program if we have success,” Wilson said. “We actually saw a pretty great summer for explorers in terms of the market.

It has cooled off since then, but I’ve been encouraged during my conversations with people who are not ‘gold investors,’ per se. This is money that has been out of the gold market for some time, and they are telling me they see a paradigm shift, wherein institutional capital is mobilizing.” TNM

2016-11-15 4:51 PM