The Northern Miner Oct 26 2020 Issue 22 by The Northern Miner Group

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Despite price rise, copper at historic low against gold COMMENTARY

| Precious and base metal miners see mutual benefits

BY DR. CHRIS HINDE AND KATJA FREITAG

The Doris gold mine at TMAC Resources’ Hope Bay project in western Nunavut. TMAC RESOURCES

Canadian government orders national security review of Shandong-TMAC deal | Extending the approval process could jeopardize the transaction

M&A

BY CANADIAN MINING JOURNAL AND NORTHERN MINER STAFF

onths after shareholders of TMAC Resources (TSX: TMR) approved a takeover of the company by China’s Shandong Gold Mining, the federal government has ordered a national security review of the transaction. The US$149-million, $1.75-pershare deal was announced in May, with more than 97% of shareholders voting in favour in June. The plan was also approved by the Ontario Superior Court of Justice in June. TMAC owns the Hope Bay gold mine, 125 km southwest of Cambridge Bay, in Nunavut. In a statement, TMAC noted that the review extends the expected timeline for approval of the transaction to February, as the federal government has lengthened review periods under the Investment Canada Act due to the pandemic. “Both TMAC and Shandong believe the transaction has a strong overall net benefit to Canada and does not pose a security risk,” TMAC said. “The extension to timelines as a result of Bill C-20, An Act respecting further Covid-19 measures, and the related Ministerial Order issued on July 31, 2020, mean that the government of Canada may not complete the regulatory review process and provide Investment Canada Act

approval by February 8, 2021, which is the extended outside date in the arrangement agreement.” The “outside date” in the agreement is Nov. 8, 2020, six months after the agreement was signed. That date can be extended by up to three months to Feb. 8, 2021, but if approvals take longer, the deal could be jeopardized. The transaction is drawing scrutiny under the Investment Canada Act because of the Hope Bay site’s location in the Arctic, considered strategically important as climate change makes resources in the region more accessible. The project is also just a few kilometres away from the Arctic Ocean. Another condition of the deal is that senior officers of Shandong are able to conduct a site visit, something that’s been delayed by a current outbreak of Covid-19 at the site that began in September. The company has reported 14 confirmed positive cases and two presumptive cases, although most have been asymptomatic. The company is in the process of commissioning rapid-testing equipment that has been deployed to the site. Since July, the mine has been operating on a reduced operating plan, running the processing plant for three weeks, and then idling it for three weeks. With reduced capacity and staffing, the mine produced 18,420 oz. gold in the third quarter.

While Hope Bay has been in production since 2017, it has struggled to make a profit. A prefeasibility study released in March pegged the cost of necessary upgrades to the operation, including a new 4,000-tonne-perday processing facility to replace the current 2,000-tonne-per-day mill, at $683 million. Hope Bay holds reserves of 16.9 million tonnes at 6.5 grams gold per tonne for a total of 3.5 million ounces. Rising Tensions News of the national security review came the same week as tensions escalated between Canada and China over Hong Kong and other issues. The Globe and Mail, Canada’s national newspaper, reported that at a press conference on Oct. 15, China’s ambassador to Canada, Cong Peiwu, told Canada to refrain from giving prodemocracy activists in Hong Kong asylum in Canada. According to the newspaper, Ottawa accepted at least two Hong Kong activists as refugees in September in the wake of China’s imposition of a national security law in the former British colony. “We strongly urge the Canadian side not to grant so-called political asylum to those violent criminals in Hong Kong, because it is interference in China’s domestic affairs, and certainly it will embolden those violent criminals,” The Globe and Mail quoted the Chinese diplomat as say-

Special to The Northern Miner

ccording to the popular adage, copper has a doctorate in economics, with an ability to predict turning points in the global economy. This proverb stems from the metal’s use in widespread applications, from power generation and electricity distribution to iPhones. Since the end of March, the price of the base metal has recovered remarkably well, rising from barely US$4,900 per tonne to over US$6,600 per tonne by the end of September. Dr. Copper is looking to next year, and the price rise of 35% in the second and third quarters suggests that a global economic recovery is upon us. The price of gold benefits from the exact opposite, namely political and economic turmoil. We have had that in spades since March, so the pre-

ing. “‘If the Canadian side really cares about the stability and the prosperity in Hong Kong, and really cares about the good health and safety of those 300,000 Canadian passport holders in Hong Kong and the large number of Canadian companies operating in Hong Kong…you should support these efforts to fight violent crime.’” Cong also cautioned Ottawa not to interfere in China’s internal affairs and its treatment of its Uyghur minority in Xinjiang. Cong’s comments came shortly after Canadian Prime Minister Justin Trudeau accused Beijing of practicing “coercive diplomacy” on both issues, and on the detention in December 2018 of two Canadian citizens, Michael Kovrig and Michael Spavor, who were incarcerated after Canada’s house arrest of Meng Wan-Zhou, a top executive at Chinese tech giant Huawei, due to an extradition request from the United States. “There’s no coercive diplomacy on the Chinese side,” Cong said in his news conference. “Those two Canadian citizens have been prosecuted because they were suspected of engaging in activities which endanger our national security.” TNM

DIAMOND PRODUCERS AND EXPLORERS TO WATCH / 11-14

cious metal has also performed well in the six months to end-September, rising 18% to US$1,900 per ounce. Gold and copper might appear unlikely bedfellows. The base metal is 15,000 times more abundant in the Earth’s crust than the precious metal (60 parts per million [ppm] compared with gold’s 0.004 ppm), and copper is renowned for its wide range of practical uses in modern economies, while the other is usually hidden away. Nevertheless, gold and copper are grouped together in the middle of the periodic table (separated in Group 11 by silver) and, as a result, these elements are frequently found together in nature. There are over 600 mines in the world that produce copper, according to the Mining Intelligence database, and 52% include gold in their output. Indeed, the world’s largest gold producer, until recently, was See COMMENTARY / 3

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EnGold takes a new approach at Lac La Hache in B.C. EXPLORATION BY CARL A. WILLIAMS

cwilliams@northernminer.com

nGold Mines’ (TSXV: EGM) wholly-owned Lac La Hache copper-gold-silver project in British Columbia’s southern Cariboo region has a history dating back several decades. The property, 14 km northeast of Lac La Hache and 480 km from Vancouver, lies within the Quesnel Trough, a 2,000-km long belt that hosts several large tonnage porphyrytype deposits. Imperial Metals’ (TSX: III) Mt. Polley mine and Taseko Mines’ (TSX: TKO; NYSE: TGB) Gibraltar mine are located 90 km north of Lac La Hache, while New Gold’s (TSX: NGD) New Afton mine is 170 km south. EnGold’s 258-sq.-km project hosts multiple mineralized zones within a sizeable alkalic porphyry system along a 10 km prospective trend. These include the recently discovered Copper Skarn zone; the gold-rich Aurizon gold-copper-silver zone; the Spout magnetite-copper deposit; and the Berkey porphyry prospect. The deposits are part of the Spout Lake copper-gold district, a group of porphyry and skarn deposits. When GWR Resources [now EnGold] acquired Lac La Hache in the early 1990s, the property was much smaller and was primarily located around Spout Lake, David Brett, EnGold’s president and CEO, said in an interview. “Over the years, the company acquired options on other mineral claims in and around the area and also had multiple option agreements with different prospectors over this time, which agglomerated into one large property,” he said. Brett joined EnGold in 2014 and was struck by the “stellar drill results” from previous operators and the enormous core database, which, he said, has been exceptionally well preserved and painstakingly digitized. While there is evidence of placergold prospecting activities on the property, which likely originated during the Cariboo gold rush of the late 1800s, the area remained unexplored until the mid-1960s. In 1966, the Geological Survey of Canada conducted an airborne magnetic survey of the area — the first modern exploration on the property. The survey outlined a magnetic anomaly measuring about 12 km by 15 km that suggested the possible presence of copper mineralization. Stream sediment and soil geochemical analyses were undertaken by Coranex Ltd from 1966 to 1967 at Peach Lake, 1.5 km southeast of Spout Lake, which led to the discovery of intrusion-hosted copper mineralization known as the Peach zone. Followup geological, soil geochemical, induced polarisation, and prospecting surveys in an area south of Peach Lake led to the discovery of the Peach 1 deposit and other mineral occurrences, including the Aurizon gold zone, 4 km southeast of Peak Lake and about 21 km northeast of Lac La Hache. In 1969, Asarco Exploration Company of Canada Ltd. optioned the property. That year, Amax Potash Ltd. completed geological and geochemical work over parts of the airborne magnetic anomaly not held by Coranex, which revealed magnetitechalcopyrite skarn mineralization south of Spout Lake. The company then staked the claim as the Spout deposit. Between 1971 and 1973, Amax con-

| Property has been prospected since the Cariboo gold rush of the late 1800s

“WE ENVISAGE A RELATIVELY SMALL MINE WITH A PRODUCTION OF ABOUT 2,000 TO 3,000 TONNES A DAY.” DAVID BRETT, PRESIDENT AND CEO, ENGOLD MINES

ducted geological mapping, geochem surveys, airborne and ground magnetometer surveys, induced polarization, trenching, and drilling at Sprout Lake. The drill campaign included six shallow packsack holes over 136

metres, ten percussion holes, and seven diamond drill holes totalling 843 metres. In 1974, Craigmont Mines Ltd. optioned the property and drilled six diamond drill holes over 1,210

metres in an area called the North Spout zone. The property was then allowed to lapse with no recorded exploration activities until the early 1980s when Selco, the mining and minerals division of B.P. Resources Canada, completed soil geochem surveys between 1983 and 1984. In 1987, Peach Lake Resources restaked portions of the property and completed very low-frequency electromagnetic and magnetic sur-

veys and excavator trenching. Asarco re-optioned the property in 1991 and completed soil geochemical surveying, geological mapping and induced polarization surveys. Follow-up trenching and percussion drilling failed to define copper mineralization of economic grade. GWR Resources then acquired the property in 1993, and through a joint venture with Regional Resources See EXPLORATION / 15

Osisko Royalties spins out Osisko Development, raises $100M FINANCING & RESTRUCTURING

| Transaction expected to simplify each company’s focus

BY CANADIAN MINING JOURNAL STAFF

sisko Gold Royalties (TSX: OR; NYSE: OR) has announced the spin-out, through a reverse-takeover transaction (RTO), of Osisko Development. The newly formed developer will hold the past-producing Cariboo gold project in B.C. and the San Antonio gold asset in Mexico’s Sonora state, in addition to other mineral assets and a portfolio of equity positions in publicly listed companies. To execute this transaction, Osisko Royalties has entered into a binding agreement, outlining the terms of the transfer of assets to Barolo Ventures, in exchange for shares of the corporation, in an RTO. As part of the deal, Osisko and Barolo have also engaged a syndicate of underwriters, with the underwriters agreeing to sell, on a bought-deal private placement basis, 13.35 million subscription receipts of the spin-out, at $7.5 per receipt, for gross proceeds of $100 million. The bankers also have the option, exercisable up to 48 hours prior to closing (the financing is expected to close around Oct. 29) to purchase up to 3.3 million additional receipts, for up to a further $25 million. Each receipt allows the holder to receive, at no additional cost and upon completion of the RTO, one share of the new issuer (after a 60-1 share consolidation of Barolo) and half of a warrant. Sandeep Singh, Osisko Royalties’ president, noted how the transaction is expected to simplify the respective Osisko companies. “We are very pleased to announce this spin-out transaction, which will simplify Osisko Royalties into a pure-play royalty and streaming company, while maintaining exposure to the company-making assets contributed to Osisko Development,” he outlined in a statement. Singh also highlighted that the technical team is being transferred to Osisko Development to leverage its mine-building knowledge and that the royalty player will keep royalty and streaming interests in the assets transferred. “We eagerly await the launch of Osisko Development, to advance a rare set of near-term producing and flagship gold assets. Our vision is to develop the Cariboo gold project into one of the predominant mining camps in Canada,” Sean Roosen, Osisko Royalties’ chair and CEO, said in a statement. Upon closing of the RTO, Osisko Royalties would hold 88% of Osisko Development (expected to dilute as the assets are advanced), while 11.8% would be held by the holders of subscription receipts, with Barolo shareholders holding a 0.2% stake. The board would include Roosen as chair, in addition to Charles Page, John Burzynski and Joanne Ferstman. The management team would include Roosen as CEO, Chris Lodder as president and Luc Lessard as chief operating officer. Osisko Royalties holds over 135 royalties, streams and precious metal offtakes on North American mineral assets. According to the press release, the developer will aim for near-term production of over 100,000 oz. gold annually from the development-stage Bonanza Ledge II project in B.C., by the first

Abandoned headframe in the historic Cariboo gold mining district of east-central British Columbia. BARKERVILLE GOLD MINES

“OUR VISION IS TO DEVELOP THE CARIBOO GOLD PROJECT INTO ONE OF THE PREDOMINANT MINING CAMPS IN CANADA.” SEAN ROOSEN, CHAIR AND CEO, OSISKO ROYALTIES

quarter of next year, and from the San Antonio site, where a permit amendment is underway. The past-producing San Antonio features gold heap leach potential, with additional upside in sulphide resources. Production from the flagship Cariboo project would then follow. Permitting is ongoing at the site to allow a 4,750-tonne-per-day underground operation, with full permits expected in 2022, following a feasibility study release scheduled for the second half of next year. The site includes a functioning mill and mineral resources of 21.4 million measured and indicated tonnes, at 4.6 grams gold per tonne, containing 3.2 million oz. gold, with a further 21.6 million inferred tonnes, at 3.9 grams gold per tonne, for an additional 2.7 million oz. gold. In addition to the spin-out announcement, Osisko Royalties released drill results from Cariboo, with high-grade intercepts from areas outside of known zones of mineralization.

The company started a 40,000-metre drill program this year, focused on expanding the Lowhee zone and defining the Cow and Valley deposits. Drill highlights from Cow, where results continue to define high-grade vein corridors, included 6 metres of 25.79 grams gold; and 0.5 metre of 6,530 grams gold. According to Osisko, the latter intercept is the highest-grade assay from all drilling to date at Cariboo. Notable intercepts from the Lowhee zone on Barkerville Mountain included 13 metres of 20.66 grams gold; and 19 metres of 10.53 grams gold. This area, interpreted as an offset strike extension of Cow, has been defined over an area of 300 metres by 500 metres and to an average depth of 350 metres, and remains open. At the KL zone, in the footwall of two existing deposits, drilling suggests 1.5 km of strike, with drill highlights of 6 metres of 11.87 grams gold and 10 metres of 8.84 grams gold. At last year’s Proserpine Mountain discovery, six km from the Bonanza Ledge mine, drilling hit 6 metres of 17.78 grams gold, 50 metres from surface. Three rigs are working at Cariboo and are expected to increase to eight this month. “Since Osisko first got involved in the Cariboo project, we have been firm believers in its potential scale and importance within the sector. Recent drill results continue to confirm our thesis that Cariboo is not just a mining project, but a mining camp,” Roosen said in a statement. TNM — This article first appeared in The Canadian Mining Journal, part of Glacier Resource Innovation Group.

G LOBAL M I N I N G

N EW S

THE NORTHERN MINER / OCTOBER 26—NOVEMBER 3, 2020

GOLD AT TOP 20 COPPER PRODUCERS

COMMENTARY From 1

actually primarily a copper mine — Grasberg, which is transiting to an underground operation, and has an almost equal value of gold as copper in its production at current metal prices. (All other things being equal, Grasberg becomes primarily a gold mine, with by-product copper, at a gold price of US$2,110 per ounce.) Based on monthly averages, gold traded at a price of circa 4,000-7,000 times that of copper from late 1987 to mid-2005, before collapsing to multiples of below 3,000 in 2006-07. Since then, relative to copper, gold has enjoyed a 13-year bull run. This has increased the economic benefit of copper mines processing the precious metal as a by-product. Gold suffered a short-term decline against copper in 2016-18, when the multiple fell from an annual average of 8,277 in 2016 to 6,552 in 2017 and only 6,356 in 2018. The price differential has widened especially steeply over the past two years, reaching an average of 7,501 for 2019 and breaching 10,000 in March 2020. Although the price of gold, relative to copper, slipped in June and July, the multiple is again threatening the 10,000 mark (making 1 gram gold per tonne the equivalent in mined ore of 1% copper). Individual copper mines have always sought to boost their revenue from any by-product gold (and silver), not least in recent years through precious-metal streaming deals. Now, at these price differentials, precious-metals companies will surely be eyeing-up acquiring copper-gold assets. Compared with primary gold mines, copper-gold operations tend to be much larger, and have longer lives. The increasing price differential of the past two years is likely to lead to precious-metals producers buying base-metal assets to diver-

Price assumptions:

1,901 Gold price (Oct. 2, 2020); US$/oz

6,614 Copper price (Oct. 2, 2020); US$/t Copper (tonnes)

Gold (‘000 oz)

Annual Production (2019) Gold Value* (% of total)

Porphyry, Supergene Copper Porphyry, Exotic Copper Porphyry

1,157,000 565,400 459,942

246.7

5.8

11.1

0.7

Chile Peru Mexico

Porphyry Porphyry Porphyry, Supergene Copper

459,700 454,953 438,112

27.8

1.7 0.0 1.3

OP UG OP/UG OP OP OP/UG OP

Peru Poland Chile Peru Chile Russia Mexico

Skarn Sediment Hosted Porphyry Porphyry, Skarn Porphyry Magmatic Sulfide Porphyry, Supergene Copper

431,700 418,300 385,300 382,517 363,300 355,706 338,805

OP OP/UG OP OP OP/UG

Chile Indonesia Chile Peru DRC

335,000 275,330 266,400 258,000 234,515

19 Kansanshi

Zambia

20 Sentinel Antapaccay Centinela

OP OP OP

Zambia Peru Chile

Porphyry Porphyry, Skarn Porphyry, Supergene Copper Porphyry Supergene Copper, Sediment Hosted Supergene Copper, Sediment Hosted Sediment Hosted Porphyry, Skarn Porphyry, Exotic Copper TOP 20 TOTAL

Mine

Operation

Country

1 2 3

Escondida Collahuasi Morenci

OP OP OP

Chile Chile USA

4 5 6

El Teniente Cerro Verde Buenavista

UG OP OP

7 8 9 10 11 12 13

Antamina KGHM Polska Miedz Chuquicamata Las Bambas Los Pelambres Polar Division La Caridad

14 15 16 17 18

Los Bronces Grasberg Operations Radomiro Tomic Toquepala Katanga Operations

Geology

20.4 103.7 8.3 91.1 59.7 15.8

6.7 0.6 6.4 4.5 0.0 1.3

5.2

0.0 47.4 0.0 0.6

232,243

74.6

15.2

220,006 197,600 95,500 8,032,229

70.6 85.0 222.6 1,598.2

11.0 24.7 5.4

863.0

Source: Mining Intelligence Database

sify, and lengthen their own production streams. The chief executive of Barrick Gold (TSX: ABX; NYSE: GOLD), Mark Bristow, confirmed as much in an interview in May with the Financial Times, saying “there are bound to be opportunities.” Barrick was immediately linked with Freeport McMoRan (NYSE: FCX), whose assets include the Grasberg mine in Indonesia. Grasberg’s appeal to precious-metals producers can be seen in the table above. At current metal prices, gold would contribute over 47% of the mine’s production value based on last year’s output.

Notes

Assumed 58% of Freeport’s reported North American gold production Production averaged for 2016-18 Assumed 56% of La Caridad refinery gold, rest La Caridad mine Production averaged for 2016-18 Gold recoverable/payable in sold concentrates Assumed 44% of La Caridad refinery gold, rest Buenavista

Assumed 62% of Ilo refinery gold, rest Cuajone

Minimal gold output

• Values based on metal prices as of Oct. 2, 2020

There is no shortage of money in the coffers of gold producers; at the metal prices of Oct. 2, last year’s mined production is worth almost US$202 billion. Despite sharply higher copper prices, gold is still comfortably ahead of the current annualized value of global copper production (some US$134 billion), although it remains well short of iron ore (at around US$283 billion). The world’s top 20 copper producers reported an output of over 8 million tonnes of the yellow metal last year, with a combined gold byproduct output of some 1.6 million ounces. These operations contrib-

uted almost 40% of the world’s mined copper output in 2019, but the gold they produced represented only 1.5% of the global total. Nevertheless, gold is a significant value-add at many copper mines. Of the top 20 copper producers, 12 reported gold as a by-product last year, with the precious metal contributing over 4% of the production value at six operations. Using 2019 production data (courtesy of the Mining Intelligence database), and metal prices as of Oct. 2, gold contributes 5.4% of the production revenue at the top 20 copper mines (albeit 54% of the total gold

Big Structures. Big Gold.

contribution comes from Grasberg). Dr. Copper is clearly predicting an economic recovery but, in the meantime, gold is a useful prescription to boost mined wealth. For gold companies, these assets must be looking increasingly attractive. TNM — Dr. Chris Hinde is the director of Pick and Pen Ltd., a U.K.-based consulting ﬁrm specializing in mining industry trends. He previously worked for S&P Global Market Intelligence’s Metals and Mining division. — Katja Freitag is the manager of Mining Intelligence, a leading provider of comprehensive and essential data on the global mining industry, and part of Glacier Resource Innovation Group.

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E D I T O R IA L Souring Aussie-China relations puts coal in the crosshairs POLITICS

GROUP PUBLISHER/ PUBLISHER: Anthony Vaccaro, CFA, MBA avaccaro@northernminer.com

| How low can things go?

elations between Australia and China have been strained since Prime Minister Scott Morrison called for an independent global investigation into the origins (and initial handling) of the coronavirus pandemic. The conservative leader has also criticized China’s recent imposition of new BY TRISH SAYWELL security laws in Hong Kong and suspended tsaywell@northernminer.com its extradition agreement with the former British colony, which reverted to Chinese rule in 1997. Beijing isn’t happy. Earlier this year China imposed an 80.5% tariff on Australian barley imports, imposed restrictions on some wine and meat imports, and told Chinese students and tourists to refrain from travelling to Australia because of what it described as racial discrimination there. More recently, China in August detained Cheng Lei, an Australian citizen (born in China) and television host for China’s CGTN Englishlanguage television service on allegations of national security crimes. In September, two Australian journalists, Michael Smith, The Australian Financial Review’s correspondent in Shanghai, and Bill Birtles, the Australian Broadcasting Corporation’s Beijing correspondent, fled the country after being interrogated about Cheng Lei by Chinese state security agents. But some might say tensions were seeded two years ago, when Australia became one of the first countries to ban Chinese technology companies Huawei and ZTE from supplying its national 5G network. The souring relations appear to have escalated last week, with initial reports from S&P Global Platts and Argus Media that Beijing had instructed some of China’s steel mills, power companies and coal traders to stop importing Australian coal. By some estimates about 27% of Australia’s metallurgical coal and 20% of its thermal coal is exported to China. News agencies picked up the story and on Oct. 13 Australia’s Trade Minister, Simon Birmingham, said he was looking into the matter. “We take the reports seriously enough certainly to try to seek assurances from Chinese authorities that they are honoring the terms of the ChinaAustralia Free Trade Agreement and their World Trade Organization obligations,” Birmingham told reporters. But the trade minister also acknowledged that it could be a routine adjustment by its largest trading partner. “We do know from recent years that there are certain cyclical patterns to the way in which China has managed coal importation, and this may be another case of that.” A few days later, one of the country’s leading newspapers, The Sydney Morning Herald, reported that mining heavyweight BHP had confirmed that it was aware of the rumors and was investigating. “BHP’s commercial team has received requests for deferral of contracted coal cargoes from some of its buyers in China, the company said, and is seeking further information on the extend of the new import restrictions,” the newspaper reported. It also quoted BHP Chairman Ken MacKenzie: “We have longstanding relationships with our customers in China. We are working with them to understand the situation more comprehensively.” According to Reuters columnist Clyde Russell, China’s imports of all coal from Australia in September totaled 5.48 million tonnes, a drop from August’s 6.04 million tonnes and July’s 8.17 million tonnes. But Russell also pointed out that while Australia’s coal exports to the Asian juggernaut have fallen by 7.3% year-on-year to 67.68 million tonnes in the year to date, Indonesia’s coal exports to China have dropped by 17% year-on-year to 86.63 million tonnes in the first nine months of the year. If the ‘unofficial’ curtailment of Australian coal exports turns out to be true, however, it will hurt. Australia is China’s top supplier of coking coal to make steel. According to BMO Capital Markets, Australia exported 183 million tonnes of metallurgical coal last year, with 43 million tonnes or 23% of it going to China. That made up 41% (31 million tonnes) of China’s total coking coal imports of 75 million tonnes. And while there are other markets in the region that can take Australia’s coal such as Japan, India and South Korea, those economies are still reeling from the pandemic. China’s economy, by contrast, seems to be on the mend. “With 2020 set for another year of China’s consumption growing and ex-China struggling, China will now account for over 50% of steel, copper, aluminum and nickel consumption for the first time,” Colin Hamilton, an analyst at BMO Capital Markets in London commented in a recent research note. Whatever happens, many Australians appear to be unhappy with their largest trading partner. A survey of Australians by the Pew Research Center released on Oct. 6 concluded that “‘unfavorable’ perceptions of China rose to 81% in 2020 - up 24% since 2019,” according to Stratfor, a geopolitical intelligence group. “Politically we’re at the lowest ebb since diplomatic relations were established in 1972,” James Laurenceson, director of the Australia-China Relations Institute at Sydney’s University of Technology, told the British Broadcasting Corporation. TNM

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

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

PETRA DIAMONDS

Inflation concerns support diamond prices COMMENTARY

| Major miners continue a strategy of value over volume

BY PAUL ZIMNISKY,

SPECIAL TO THE NORTHERN MINER

he U.S. dollar, as measured by an index tracking it versus six major currencies including the Euro, Yen and Canadian dollar, is down almost 10% from the highs in March to mid-October. The weakness is at least in part a response to record economic stimulus by the U.S. in the form of cash payments and also suppressed interest rates – the former reflected in the Federal Reserve’s balance sheet, which rose from US$4.2 trillion in February to as much as US$7.1 trillion in October. Much of the Fed’s asset expansion is the result of “created” money via “Open Market Operations,” a mechanism the bank uses to influence the supply of money in the system. Stimulus can temporarily provide a much-needed jolt to the economy or offer a bridge to better economic times. However, such monetary policy strategy is complex, highly nuanced and tricky to execute, which can result in adverse effects. For instance, the action could result in unintended debasement, or dilution in the value of a currency, or to inflation, an increase in prices in a relative currency due to a decrease in a currency’s purchasing power, both of which can lead to the erosion of confidence in a fiat currency. In such a circumstance, assets that maintain their real value appreciate in value in nominal terms, and, the value of cash, from the standpoint of purchasing power, theoretically decreases. The above conundrum can make investors, or anyone for that matter, uncomfortable holding cash, and thus spur the purchasing of assets that are expected to maintain their value. This is, arguably, what has driven the U.S. stock market to an all-time high in early-September, despite the severe global economic consequences of the pandemic. The same has been seen in other assets and commodities, including gold, which also reached a post-pandemic record high in U.S. dollars. The ultimate effect of the stimu-

lus measures on the U.S. dollar and asset prices is almost impossible to pinpoint because it depends on how, and to whom, the stimulus money is distributed; how and when it is spent (and how that impacts the economy); as well as the effect relative to other currencies and the global economy as a whole. That said, the current flow of investment dollars seems to imply that currency debasement and inflation are on the minds of investors and others that move markets. Regarding diamond prices, there were a handful of rough tenders and auctions held (in a very illiquid market) in the midst of the global lockdown that yielded prices of -20% to -30% from 2019 levels. However, the major diamond miners, in accordance with a “value over volume” strategy of matching supply released into the market to that of demand, have only marginally lowered prices despite jewellers around the world being closed from late March through at least June. Further, as of October, a basket of polished diamond prices at the retail level is actually up a lowsingle-digit-percentage this year. In general, the diamond miners are not giving away rough and the jewellers are not giving away polished. While typically viewed as more of a discretionary or luxury product than an investment, diamonds are still seen as a rare, “store-of-value” hard-asset, in a way like gold, and those that hold them rarely put them on sale, especially in an environment of global economic uncertainty and concern around currency debasement and inflation are top of mind. TNM — Paul Zimnisky, CFA is an independent diamond industry analyst and consultant based in the New York metro area. For regular in-depth analysis of the diamond industry, see his State of the Diamond Market, a leading monthly industry report. He can be reached at paul@ paulzimnisky.com and followed on Twitter @paulzimnisky. Disclosure: At the time of writing Paul Zimnisky held a long position in Lucara Diamond Corp, Mountain Province Diamonds, Star Diamond Corp and North Arrow Minerals Inc.

COMPANY INDEX Albemarle . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Arizona Metals . . . . . . . . . . . . . . . . . . . . . . . 9 Atico Mining . . . . . . . . . . . . . . . . . . . . . . . . 9 Barrick Gold. . . . . . . . . . . . . . . . . . . . . . . 3,7 BHP. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 C3 Metals . . . . . . . . . . . . . . . . . . . . . . . . . . . 9 Chakana Copper . . . . . . . . . . . . . . . . . . . 7,8 Condor Resources . . . . . . . . . . . . . . . . . . . . 8 Doré Copper . . . . . . . . . . . . . . . . . . . . . 9,10 EHR Resources . . . . . . . . . . . . . . . . . . . . . 14 EnGold Mines . . . . . . . . . . . . . . . . . . . . 2,15 Filo Mining . . . . . . . . . . . . . . . . . . . . . . . . 10 Freeport McMoRan . . . . . . . . . . . . . . . . . . . 3 Gem Diamonds . . . . . . . . . . . . . . . . . . . . . 13 Glencore . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Gold Fields . . . . . . . . . . . . . . . . . . . . . . . . . . 7 Imperial Metals . . . . . . . . . . . . . . . . . . . . . . 2 Kutcho Copper . . . . . . . . . . . . . . . . . . . . . . 10

Lucapa Diamond . . . . . . . . . . . . . . . . . . . . 12 Lucara Diamond . . . . . . . . . . . . . . .12,13,14 Mountain Province Diamond . . . . .12,13,14 New Gold . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 North Arrow Minerals . . . . . . . . . . . . . . . 14 Osisko Gold Royalties . . . . . . . . . . . . . . . . . 2 Pangolin Diamonds . . . . . . . . . . . . . . . . . . 14 PolyMet Mining . . . . . . . . . . . . . . . . . . . . . 10 Rio Tinto . . . . . . . . . . . . . . . . . . . . . . . 14,16 RJK Explorations . . . . . . . . . . . . . . . . . . . . 14 SolGold . . . . . . . . . . . . . . . . . . . . . . . . . . . . 16 South32 . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 SQM . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 Star Diamond . . . . . . . . . . . . . . . . . . . . . . . 14 Taseko Mines . . . . . . . . . . . . . . . . . . . . . . . . 2 TMAC Resources . . . . . . . . . . . . . . . . . . . . . 1 Trilogy Metals . . . . . . . . . . . . . . . . . . . . . . 10 Wheaton Precious Metals . . . . . . . . . . . . . 10

G LOBAL M I N I N G

N EW S

THE NORTHERN MINER / OCTOBER 26—NOVEMBER 3, 2020

Canadian Mining Hall of Fame 2021 inductees HONOURS

BY VIVIAN DANIELSON

FOR THE CANADIAN MINING HALL OF FAME

he Canadian Mining Hall of Fame will welcome five new members at its July 2021 gala dinner and induction ceremony, An Evening Under the Stars, to be held at the prestigious Aga Khan Museum in Toronto. Due to the Covid-19 pandemic and the restrictions around gatherings, the gala dinner and induction ceremony will be organized in compliance with Ontario’s Phase 3 guidelines where 100 people are permitted to meet outdoors in a business venue, with health protocols monitored and safe distancing implemented. This event is by invitation only with no public sale of tickets. The Northern Miner is a cofounding member organization of the Hall of Fame, along with the Canadian Institute of Mining, Metallurgy and Petroleum, The Mining Association of Canada and The Prospectors and Developers Association of Canada. More details about the event can be found at www.mininghalloffame.ca

| Their groundbreaking contributions to the industry span well over a century was an early advocate of Corporate Social Responsibility (CSR). Dillon also contributed to the CSR initiatives of the Mining Association of Canada (MAC), notably “Towards Sustainable Mining” and “Mining Works for Canada.” Her greatest contribution is as a founder and driving force of Mining Matters, a charitable organization focused on educating young people about Earth sciences, the minerals industry, and their roles in society. Dillon was born in Toronto and attended the University of Toronto, where she earned a BSc in geology in 1974, and a Bachelor of Education in 1976. Geology was not a com-

mon career choice for women at the time, but her entry position with Teck evolved into a 32-year career and ultimately made her one of the best-known industry leaders of the 1990s and early 2000s. The industry faced many challenges at the time, and its associations recognized that something had to be done to improve performance and increase knowledge of the mining industry with governments, educators and the general public. Dillon played a leadership role in MAC’s innovative “Towards Sustainable Mining” initiative, which led to improved relations between the Mining Industry and Indigenous Communities, in particular.

Dillon has contributed greatly to the success of PDAC in various capacities since 1993, including as president from 2006 to 2008. She was the chair of Mining Millennium 2000, a conference held jointly by PDAC and CIM that included forums on CSR and the future role of mining in society and was a member of the PDAC committee that developed the original E3 initiative. As well, she was chair of the Ontario Mining Association’s “Mining New Opportunities” video project for Ontario First Nations. Dillon is the past chair of the Mining Industry Human Resources Sector Council and co-chaired its National Steering Committee, which

produced the “Prospecting the Future Report” in 2005. She also served as chair of the Communications Task Force of the International Council of Mining and Metals. Dillon’s most enduring legacy is considered to be PDAC Mining Matters, a charitable organization that celebrated its 25th anniversary in 2019. She serves as president and CEO of the organization, which has provided educational resources promoting mineral literacy to more than 800,000 students and teachers in Canada, in English, French and several Indigenous languages. See HONOURS / 6

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Patricia Dillon

PATRICIA DILLON (b. 1952) The career achievements of Patricia (“Pat”) Dillon are unique in Canadian mining history as they encompassed leadership roles in industry associations and outreach initiatives to help the sector navigate social change and chart a more sustainable future. She joined Teck Resources as a geologist in 1979, and advanced to more senior roles as her organizational and communication skills came to the fore. This experience was a springboard for volunteer positions with the Prospectors and Developers Association of Canada (PDAC) and Canadian Institute of Mining and Metallurgy and Petroleum (CIM). She served as committee chair, board member, and president of both organizations, and

DAVID ELLIOTT

DAVID ROSENBERG

Vice President & Director Haywood Securities

President, Chief Economist & Strategist Rosenberg Research & Associates Inc.

OUTLOOK 2021

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MINING symposium

OCTOBER 26—NOVEMBER 3, 2020 / THE NORTHERN MINER

HONOURS From 5

Patricia Dillon has received the CIM’s Past Presidents’ Memorial Medal, Distinguished Service Award, and Fellowship Award, and PDAC’s Distinguished Service Award, in recognition of her achievements. She is also the recipient of the Queen Elizabeth II Jubilee medal, was named a “Superhero of Industry” by the Canadian Science and Technology Museum and recognized as one of the 100 Global Inspirational Women in Mining in 2014 by Women in Mining (UK).

search, corporate finance and compliance departments during the 1990s. An institutional desk was added in 1998. During this period, he focused on building relationships with companies led by strong technical teams. He had previously supported the first heap-leach gold mines in the United States, and later became involved in a predecessor of Glamis Gold, which was acquired by Goldcorp for US$8.6 billion in 2006. He supported the early exploration efforts of Stewart Blusson and Charles Fipke, which led to the first diamond discoveries and first diamond mine in Canada. He also participated in an initial $5-million financing for Arequipa Resources, which discovered the 10-millionounce Pierina gold deposit in Peru. Barrick Gold ultimately acquired Arequipa for $1.1 billion in 1996. The list of companies and people that Elliott supported over four decades is long, but includes the Bema Group, Alamos Gold, CGA Mining, Globetrotter Resources, Midas Gold, Ventana Gold, Reservoir Minerals, Fiore Gold, EMX Royalties, and Transition Metals, among others. The impact on the Canadian mining industry is similarly vast, and hugely beneficial in preserving the junior mining sector and establishing Canada as a global financial hub for resource investment. In 2014, Elliott was presented AME BC’s Murray Pezim Award for “perseverance and success in financing mineral exploration.” His philanthropic efforts, often anonymous, are diverse and include the Pacific Salmon Foundation, Fraser River Sturgeon Conservation Society, Alzheimer’s Society of BC, Covenant House, BC Children’s Hospital, Vancouver Hospital Cancer Foundation and Prostate Cancer, Make-A-Wish Foundation and Women in Mining.

David Elliott

DAVID ELLIOTT (b. 1948) David Elliott earned his reputation as one of Canada’s preeminent resource financiers by funding more than 400 exploration and development companies and supporting and mentoring a generation of mining geoscientists. As a founding partner of Haywood Securities, he demonstrated a rare ability to combine industry talent with quality projects and investment capital. Haywood grew from a small Vancouver firm with 15 employees in 1986, into one of Canada’s premier mining merchant banks with 300 employees and $10 billion of assets under management. Elliott was a stalwart champion of junior mining, even in tough times, and an early supporter of many of its greatest successes, notably diamond discoveries in Canada and the Pierina gold mine in Peru. He is known and respected for his acumen, integrity, and core principle of investing in people over transactions. He is also a generous supporter of worthy social and environmental causes. Elliott was born in Kingston, Ontario, and began his career as a junior programmer at the Montreal Exchange in 1968. A year later he became a securities trader at the Montreal brokerage firm of Dougherty Roadhouse MacQuaid and was transferred to Vancouver. He spent several summers prospecting in the Yukon where he worked in mining finance and trading at several brokerage firms. In 1986, he seized the opportunity to purchase Haywood with partners David Shepherd, John Tognetti and George Bealy. It was then a small shop, but the partners saw potential for growth. They bought a seat on the Toronto Stock Exchange and launched an ambitious plan to build a strong base of retail sales personnel and clients, and raise capital for junior mining companies. As a partner and director, Elliott helped strengthen Haywood’s re-

Royal Air Force in Europe. Jewitt continued to fly after the war and survived a spectacular collision with another aircraft, returning to Canada after overcoming his injuries. Jewitt graduated with honours from the University of Alberta in 1923, with a BSc in mining engineering. He joined Cominco as an assayer at its Trail smelter in B.C., and transferred to the mining group as an exploration engineer and pilot in 1929. The company then had 12 planes in service exploring unmapped territory in Canada’s North. Jewitt trained company engineers and geologists to fly as part of their exploration responsibilities and also made lasting contributions to mapping and mineral exploration in Canada’s North, notably in the Northwest Territories (NWT). His own exploration efforts led to the opening of the Box gold mine in northern Saskatchewan, and the Con gold and Echo Bay silver mines in the NWT. He negotiated an agreement leading to discovery of the Magmont Mine in Missouri. When Jewitt’s aviation career ended in 1954, he had personally flown the farthest-ranging and most difficult flights, some into the Arctic islands where no aircraft had ventured. He pioneered new methods of aerial prospecting and carried out emergency flights under difficult conditions. In 1948, Jewitt was appointed manager of mines, and became vicepresident of mines in 1965. Under his direction, Cominco modernized the Sullivan mine, then the world’s largest lead-zinc-silver mine, and developed the Bluebell, HB, Tulsequah Chief, and Coast Copper base metal mines, and Pinchi Lake mercury mine in B.C.; the Wedge copper mine in New Brunswick, and the Nong Bhai mine in Thailand. He retired from Cominco in 1962, but continued as president of Pine Point Mines and Coast Copper Mines. He later served as president of Western Mines until 1977, and contributed to the success of its Myra Falls copperlead-zinc mine on Vancouver Island. In 1956, Jewitt received an Honorary Doctorate degree from the University of Alberta for his contributions to mining and exploration in Northern Canada. In 1978, he received the Order of Polaris from the Yukon government in recognition of “an outstanding role as a pioneering aviator in the Canadian North,” and “for courage in navigating the uncharted wilderness.”

William Gladstone Jewitt

WILLIAM GLADSTONE JEWITT (1897-1978) William (“Bill”) Jewitt has the rare distinction of being an inductee into the Canadian Mining Hall of Fame (2021) and the Canadian Aviation Hall of Fame (1978). He was a pilot and flight instructor during the First World War, a mining engineer by profession, and a senior executive of Cominco, which continues as Teck Resources Limited. He joined Cominco in 1927, and contributed to the discovery and development of many of its mines by combining “eyes in the skies” aerial prospecting with “boots on the ground” engineering expertise. The list includes famous mines such as Echo Bay, Con, Thompson Lundmark, Ptarmigan and Pine Point. Bill Jewitt was a teenager when his family emigrated from England to Canada in 1910. They settled in Calgary, where his father worked as a school teacher and principal. He became the first King Scout in Alberta, which foreshadowed a remarkable career. As war broke out in Europe, Jewitt enlisted with the Princess Patricia’s Canadian Light Infantry and saw action as a machine gunner in the trenches of France. He transferred to the Royal Flying Corps and became an instructor and test pilot for the

estimating temperature and pressure of formation or metamorphism of ore deposits to help predict the mineral content of VMS deposits. In the late 1970s, he turned his attention to “black smokers” and the genesis of seafloor massive sulphides, and ultimately became a world-famous marine scientist. He was the first to recognize that seafloor deposits could be an economic resource and worked with several mining companies to pursue this goal. He participated in 31 oceanographic expeditions, published hundreds of peer-reviewed scientific papers, and educated students from around the world—since labelled the “Scott Diaspora.” Born in Fort Francis, Ontario, Scott attended the University of Western Ontario, and earned his BSc and MSc degrees in geology in 1963 and 1964, respectively, followed by a PhD from the Pennsylvania State University in 1968. At U of T, his seminal research on ancient VMS deposits included comparative studies of the 13-millionyear-old Japanese Kuroko-type VMS deposits with 2,700-million-year-old Canadian massive sulphides. His research helped guide exploration efforts for high-value VMS deposits in Canada and abroad. This fount of knowledge also aided Scott’s research efforts during the third phase of his career as a marine geoscientist. The 1978 discovery of “black smokers” on ocean ridges generated excitement among geologists. In 1982, Scott went on his first expedition, diving in the submersible ALVIN to Guaymas Basin, Gulf of California. He was the first geologist and first Canadian to witness the formation of metal sulphide deposits by hot spring activity on the modern seafloor. This was followed by a surface and diving cruise to Axial Seamount, Juan de Fuca Ridge, in 1983, and more than 25 other expeditions in oceans of the world. Based on the principle that “the present is the key to the past” Scott and his research teams compared the active live deposition sites they found on the sea floor to ancient VMS deposits on land. He saw potential for ocean deposits to become an economic source of base and precious metals, and guided Nautilus Minerals for this purpose. During this period, he co-discovered the Solwara 1 copper-gold deposit offshore of Papua New Guinea. While not yet developed, this deposit demonstrated the potential of marine resources. Scott published 187 peer-reviewed journal articles and conference proceedings during his career and also was a popular lecturer. He guided dozens of students through their MSc and PhD theses, including some who became experts in seafloor research. He received dozens of national and international honours over the years, notably the Society of Economic Geologists’ Penrose Medal in 2016, and the Geological Survey of Canada’s Duncan R. Derry Award in 1997.

W . N OR TH ER N M I N ER . COM

wife of Joseph Burr Tyrrell. He was a renowned explorer and map-maker with the Geological Survey of Canada (GSC) when they met, and often away on long expeditions. By the time they married in 1894, Edith Tyrrell had studied geology and experienced the separations endured by many mining families. In Toronto during the First World War, she recognized the need for the wives of mining men to support each other. In 1921, she and 19 like-minded wives launched the Women’s Association of the Mining Industry of Canada (WAMIC). Since then WAMIC members have overseen the distribution of more than $1.8 million in charitable donations and support for students and educational institutions. It is fitting that a century later Edith Tyrrell be inducted into the Canadian Mining Hall of Fame, joining her husband who was inducted in 1997 for his career accomplishments. Mary Edith Carey was born in Saint John, New Brunswick, and nicknamed “Dollie” as she weighed only three pounds at birth. She was not strong enough to attend school, but spent considerable time in the family library as her father, a Baptist minister, believed in the higher education of women. After 17 years in Saint John, the family moved to England, where Edith attended high school. Six years later they moved to Ontario, where Reverend Carey was appointed to the First Baptist Church of Ottawa. It was there that Edith met her future husband, who a few years earlier had discovered dinosaur bones and coal deposits in Alberta. The Tyrrells raised three children and travelled extensively during their marriage, including to the Yukon during the Klondike gold rush. In 1905, they moved to Toronto, where he could further his business as a mining geology consultant. She witnessed mining history by his side as major discoveries were made in northern Ontario and across Canada. During the war years she joined the Women’s Auxiliary of the American Institute of Mining and Metallurgical Engineers and saw the need for a similar group in Canada. In March 1921, she gathered together a group of other mining wives to launch WAMIC. Its objectives remain to promote friendship among mining women, render service to the mining industry, and contribute to the well-being of the community. Mrs. Tyrrell served as WAMIC’s president for its first three years. Members supported worthy causes that mirrored the times; war veterans in the 1920s, schools and disaster relief in the 1930s, and the war effort in the 1940s. Over the past century WAMIC has donated more than $300,000 to various charities, awarded more than $300,000 in scholarships and bursaries, and overseen the distribution of $616,000 to deserving students from the Sophia Wood bequest. Another $600,000 was distributed to several universities and the KEGS Foundation as the WAMIC Foundation wound down in 2010. WAMIC has supported countless students over time, including women and minorities, and helped the mining industry in its transition from a fraternity into an inclusive community. TNM

PODCAST

PODCA

PODCAST

PODCA

Steven Scott

STEVEN D. SCOTT (1941-2019) The oceans of the world and volcanogenic massive sulphide (VMS) deposits were sources of inspiration for Steven Scott, one of Canada’s most prolific and influential geoscientists of recent times. His legacy of scientific research is second to none, and complemented by a stellar 40-year career at the University of Toronto. Scott joined U of T in 1969, and was then its youngest professor. A landmark achievement of his early career in research, as an experimental geochemist, was development of the “sphalerite geobarometer,” a tool for

no Edith Tyrrell

MARY EDITH TYRRELL (1870-1945) Career options for women were limited in the 1890s when Edith Tyrrell was introduced into Canada’s fledgling mining industry as the young

PODCAST soundcloud.com/northern-miner northernminer.com/tag/podcast

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GLOBAL COPPER Panorama of C3’s Jasperoide project in southern Peru. C3 METALS

Chakana Copper drills Soledad project in Peru PERU

| Company has tripled its land position to more than 30 sq. kms

Sumitomo to sell stake in Sierra Gorda copper mine CHILE

| Mine has struggled to meet production expectations

BY CECILIA JAMASMIE

Drill rig at Chakana Copper’s Soledad project in the western ranges of the Peruvian Andes. CHAKANA COPPER

BY TRISH SAYWELL

tsaywell@northernminer.com

hakana Copper (TSXV: PERU; US-OTC: CHKKF) has launched a fully-funded, 15,000-metre drill program at its Soledad copper-gold-silver project in Peru, with a target date of March 2021 to release its first resource estimate. Soledad is in the country’s Ancash district, 35 km southwest of Barrick Gold’s (TSX: ABX; NYSE: GOLD) Pierina gold mine and 260 km northwest of Lima. Gold Fields (NYSE: GFI) invested in Chakana Copper last year and holds a 16.8% stake in the junior. So far, the company has drilled a total of 30,273 metres, testing seven of 23 confirmed breccia pipes that outcrop, with more than 92 targets. It has one drill rig probing goldenriched tourmaline breccia pipes, but will add a second once it gets enough definition drilling lined up to justify the additional rig. “We have so many targets on the property that the strategy is, we’ve ranked all of our targets and we’d like to do initial scout drilling, about six to eight drill holes into each target,” David Kelley, the company’s president and CEO, says in an interview from Vancouver. “If we see mineralization right away we will put in a few more drill holes. The idea is to answer three questions: Is it mineralized? Is there indication of high-grade? And can we get some sense of the geometry?” If the target isn’t mineralized, the drill moves on, Kelley says. “Almost all pipes that are mineralized have high grade. It’s a matter of where the high grade is located,” he explains. “The high-grade is often on the margins of the pipe, and sometimes it’s throughout the pipe.” In July, Peruvian authorities grant-

“IT’S EXCITING, AND I DO BELIEVE THIS COULD BECOME A MAJOR DISCOVERY. WE’VE ONLY REALLY SCRATCHED THE SURFACE.” DAVID KELLEY PRESIDENT AND CEO, CHAKANA COPPER

ed the company permission to drill in the central part of the project, which hosts some of the highest priority areas that have significant surface and geophysical anomalies that haven’t yet been drilled. These include the Paloma East and Paloma West targets and the nearby Huancarama breccia complex. The central portion of the project is 500 metres south of the northern part of the project where previous drilling was completed. Its phase three drill program began in August, and in September Chakana released results from three of five holes drilled at the Paloma East target. Highlights included a 15 metre intercept grading 0.31 gram gold per tonne, 38.8 grams silver per tonne and 2.10% copper (2.36% copperequivalent) from 45 metres downhole, within a broader 173 metre intercept starting from surface grading 0.31 gram gold, 13.2 grams silver and 0.34% copper (0.66% copperequivalent) in drill hole SDH20-135. The hole also returned a 9 metre intercept grading 1.57 grams gold, 15.6 grams silver and 0.14% copper starting from 5 metres downhole. Drill hole SDH20-133 returned 16 metres grading 0.50 gram gold, 24.2 grams silver and 0.89% copper (1.42% copper-equivalent) starting from 132 metres. Based on the company’s current modelling, the shape of the Paloma East target increases from a diameter of 25 metres at surface to about 50 metres at a depth of 150 metres. Kelley notes that exploration results so far suggest that the funda-

mental characteristic of the breccia pipes at Soledad is that the overall footprint increases at depth. “Most breccia pipes get bigger at depth when you drill them,” he explains. “We estimated they were somewhere in between one and two kilometres depth below surface when they formed and with uplift and erosion See PERU / 8

MINING.COM

apanese miner and smelter Sumitomo Metal Mining is reviewing its strategic options regarding its minority stake in the Sierra Gorda copper mine in northern Chile, majority owned by Polish miner KGHM. The Asian giant announced that selling its 45% holding in the mine was one of the routes to be explored with its financial and legal advisors, RBC Capital Markets and Sullivan & Cromwell LLP. KGHM, Europe’s second-largest copper producer, said instead that Sumitomo had already begun the process of leaving the venture. The miner, which is also one of the world’s largest silver producers, added it was not interested in increasing its stake in the money losing operation. The state-controlled company noted, however, that it would continue “all optimization efforts” aimed at increasing the value of the asset. KGHM has been criticized for the steep investment allocated to developing the Chilean mine (US$5.2 billion and counting). Sierra Gorda, which began production in 2014, has constantly failed to meet expectations due to challenging metallurgy and difficulties in using seawater for processing. BMO Capital Markets analyst Edward Sterck estimates that the present value of Sumitomo’s stake is around US$513 million, assuming the mine achieves design cost and production rates. “It is worth noting that the JV shareholders have been forced to provide external funding every year since inception due to disappointing

performance and this may drive a discount,” Sterck said in a note to investors. Jakub Szkopek, an analyst at BM mBank, noted Sumitomo’s exit may pose further challenges to KGHM. “The signal that Sumitomo wants to get rid of the Sierra Gorda project is, in our opinion, a negative one, and might mean that possibilities of further fast efficiency improvement without major capital outlays [will] quickly run out,” Szkopek wrote. “Another risk is whether, after selling the stake by Sumitomo, a new owner will shoulder managing the project as well, as so far KGHM has visibly lacked such competences on international markets,” he noted. KGHM grabbed the copper and molybdenum project in 2012, after completing the acquisition of Canadian rival Quadra FNX, in what was the largest-ever foreign acquisition by a Polish company. The miner had planned to expand Sierra Gorda earlier, but the 20152016 rout in commodity prices forced the company to place the project on the backburner. Two years later, KGHM secured environmental approval for a US$2 billion expansion and upgrade of the mine in order to extend its productive life by 21 years. The options to expand production include building an oxide circuit and doubling the throughput of the sulphide plant. Current planned output at Sierra Gorda sits at about 140,000 tonnes of mineralized material per day, but the asset has only delivered 112,000 tonnes in its best year of operation to date. The oxide expansion would add 40,000 tonnes of ore per day for eight years, and the sulphide expanSee CHILE / 8

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OCTOBER 26—NOVEMBER 3, 2020 / THE NORTHERN MINER

FOCUS ON GLOBAL COPPER W

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Work camp at Chakana Copper’s Soledad project in the western ranges of the Peruvian Andes. CHAKANA COPPER

PERU From 7

in the Andes, these breccia pipes have been exposed at surface.” Kelley notes that in the first four holes drilled at Paloma East to the northeast and northwest, the geometry was “basically a cylinder increasing at depth.” “We had 15 metres of 2.1% copper and that’s outstanding high grade for us,” he says. “We had a shallow zone with 1.57 grams gold per tonne in it, so there’s good gold enrichment at the top of the breccia pipe and good copper grades near the bottom.” One of the drill holes, SDH20-137, for which assays are still pending, exited tourmaline breccia at a depth of 627 metres, he adds, far beyond the anticipated depth of 170 metres down hole. “In general the breccia pipes have an inverted carrot shape with the tip of the carrot at the top, and as you go down the carrot gets bigger. We were assuming that is what we had, so we expected to get out of the breccia pipe at 170 metres depth and there was still breccia, and we continued drilling and continued drilling, and we didn’t exit the breccia until 627 metres depth. That was really amazing.” The drill hole also ended up directly below the company’s Paloma West target at a depth of about 530 metres, Kelley continues. “What it showed us is that instead of having Paloma East and Paloma West separated by 150 metres, we have breccia at depth, expanding the entire extent of those two breccia pipes…It’s basically open in all directions and at depth so there is a lot of drilling that needs to be done.” One of the project’s potential upsides, Kelley explains, is that the breccia pipes coalesce at depth, and that is now the company’s working hypothesis. If they do, he says, “it gives you a lot bigger playing field, it expands your host rock dramatically. Again, we need to drill in different directions, but just having a lateral

Above: Core sample from drill hole SDH20-135 at the Paloma East target of Chakana Copper’s Soledad project in Peru. CHAKANA COPPER Right: Aerial view of drill rig working the Paloma East target at the Soledad project. CHAKANA COPPER

extent like that suggests we have a much larger volume of breccia within which mineralization could be hosted.” Since optioning the project in 2017 from Condor Resources (TSXV: CN), Chakana has tripled its land position to more than 30 square kilometres. “It’s fun – it’s a lot of fun – it’s amazing,” Kelley says of exploration at Soledad. “It’s why we do this. There are a lot of people in the industry who do it to make money, but most geologists that I know are in the business because they love what they do. It’s hard to make a discovery these days. It’s harder and harder, so when you come across something like this, it’s exciting, and I do believe this could become a major discovery. We’ve only really scratched the surface.” Drill results from the northern part of the project area released in the past two years included four breccia pipes— Bx7, Bx1, Bx5 and Bx6 — all of which contain pervasive mineralization and are vertically extensive. Drilling at Bx7 returned 31 metres

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of 0.68 gram gold, 205.9 grams silver and 0.23% copper (2.44% copperequivalent) from 157 metres depth. The number seven pipe is about 340 metres northeast of the number one breccia pipe. Bx1 was drilled to a depth of 490 metres and remains open. Highlights included hole 17-18, which returned 209 metres from surface of 1% copper, 2.22 grams gold and 70 grams silver (3% copper-equivalent). Hole 18-59 intersected 233 metres from surface of 0.85% copper, 1.4 grams gold and 57 grams silver (2.24% copperequivalent), and hole 18-77 cut 244 metres from surface of 0.91% copper, 1.4 grams gold and 56 grams silver (2.3% copper-equivalent). Chakana also found a blind breccia body 40 metres north of Bx1. Unlike the Bx1 pipe, which crops out at surface, the top of the blind pipe is at a depth of 125 metres. The company’s geologists believe it’s possible that the two pipes coalesce at depth. The Bx5 pipe, 1 km northwest of Bx1, is not as high grade. Drill hole 17-41 returned 164 metres of 0.51% copper, 1.7 grams gold and 27.4 grams silver (2.8% copper-equivalent) starting from a depth of 12 metres. Hole 18-80 cut 264 metres from surface of 0.71% copper 1.3 grams gold and 24.3 gram silver (2.7% copper-equivalent). Results from Bx6, 500 metres north of Bx5 and 1,000 metres northwest of Bx1, and traced down to 800 metres’ depth, included 18-103, which intersected 29 metres of 0.76% copper, 1.2 grams gold and 227.7 grams silver (3.52% copper-equivalent) starting from 64 metres downhole, and

18-107, which returned 14 metres of 1.92% copper, 3.8 grams gold and 13 grams silver (4.54% copper-equivalent) starting 86 metres downhole. Kelley notes that Chakana’s timing is good given the strong fundamentals for copper. “Copper has a great fundamental story. There is a looming supply gap in copper that relates to mines going out of production, decreasing grades, disruptions to operating mines, and the fact that we haven’t been finding copper deposits at the same pace as they were found in the previous century,” he says. “We used to be very good about finding new deposits. Why has it dropped off? The world is really picked over, we’ve explored the most obvious places and now you either have to find new terrains to explore, or apply different models and explorations approaches in terrains that have been explored before.” Kelley adds that Chakana is using its experience in tourmaline breccia systems to explore Soledad, and his team has an “understanding and knowledge of these systems” that “a lot of our competitors don’t, and we’re taking advantage of that.” In addition, the Soledad project contains interesting gold enrichment, which feeds into the booming market for gold projects, he says. “Copper has a great story but what is stealing all the headlines is the bull market in precious metals, investments in gold, and there has certainly been some evidence that people are pulling money out of base metal investments into gold investments. But the nice thing about Soledad is

that it’s an investment in a coppergold-silver deposit, so if you like copper, invest in Chakana, if you like gold and silver, invest in Chakana, it has all three.” With the recent changes in metal prices, he adds, about 70% of Soledad’s current value is in gold and silver and 30% in copper. “Even though we’re drilling some significant copper grades of between 0.5% and 1% copper, you have gold and silver on top of it,” he says. “That’s the key message. If you’re torn between copper and precious metals, invest in us because you get exposure to all three metals.” TNM

CHILE From 7

sion another 116,000, BMO estimates. While Sierra Gorda is a low-grade deposit, one of its main attractions is having an “extremely flat grade profile,” which is expected to remain around 0.34% for the foreseeable future. This, Sterck noted, would potentially move the mine from a tier four to a tier two asset with time. KGHM posted in August a 150% leap in second-quarter core profit for the mine, despite risks related to the coronavirus pandemic. Pawel Gruza, KGHM’s deputy head in charge of foreign assets, said at the time that from 2021 onwards, Sierra Gorda would no longer need financial support from its owners. TNM —This article first appeared in MINING. com, part of Glacier Resource Innovation Group.

G LOBAL M I N I N G

FOCUS ON GLOBAL COPPER

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THE NORTHERN MINER / OCTOBER 26—NOVEMBER 3, 2020

GLOBAL COPPER SNAPSHOT: EIGHT COMPANIES WITH PROMISING ASSETS TO WATCH BY MAGDA GARDNER

mgardner@canadianminingjournal.com

With rising copper prices, a favourable supply-demand outlook and few new mines in development, we highlight eight companies with exposure to the red metal. n ARIZONA METALS Arizona Metals (TSXV: AMC; US-OTC: AZMCF) wholly owns the Kay mine and Sugarloaf Peak projects in Arizona. Kay mine, with a history dating back to the nineteenth century, lies within an established mining district in Yavapai County, with 60 past-producing operations within a 150-km radius. A historical reserve estimate for Kay previously defined 5.8 million tonnes grading 2.2% copper, 3.03% zinc, 55 grams silver per tonne and 2.81 grams gold per tonne at the volcanogenic massive sulphide deposit. In September, Arizona released drill results for holes completed at Kay, which hit massive sulphide mineralization up- and down-dip of prior drilling. Notable intercepts included 38.4 metres of 2.9% copperequivalent, 50 metres down-dip of an intersection announced in August; and 39.9 metres of 3.4% copper-equivalent, 50 metres up-dip of the recent drilling. According to Arizona, these hits appear to be from a newly defined gold-zinc-rich lens. The Kay deposit currently extends over 320 metres of strike, with permitting underway for additional drill pads to test a further 500 metres of strike to the north and an additional 300 metres of strike to the south. Arizona is also permitting drill pads for the Central and Western targets, 500 metres and 1,000 metres west of Kay, respectively. The Sugarloaf property, in La Paz County, features a historical resource of about 90.7 million tonnes grading 0.5 gram gold. This deposit, a heap leach target that starts at surface, is also open for expansion, with exploration targets nearby. Geophysical anomalies at the site indicate potential for higher-grade feeder zones at depth. In August, Arizona completed a 1,700-metre drill program with four holes testing these areas. Notable results included 137 metres of 0.53 gram gold starting at surface, from an area 45 metres below the limit of prior drilling. Additional assays are pending for two holes drilled into an untested target area, a potential higher-grade feeder zone. Metallurgical testing is also ongoing on the Sugarloaf material. Arizona Metals has a $42.9-million market capitalization. n ATICO MINING Atico Mining (TSXV: ATY; USOTC: ATCMF) is focused on advancing copper-gold projects in Colombia and Ecuador. The company’s principal asset is the producing, 90%-held El Roble underground copper-gold-silver mine in Colombia, 145 km from Medellin. At this 63.6-sq.-km site, a 1,000 tonne-per-day underground mine extracts ore from volcanogenic massive sulphide lenses to produce a copper concentrate with gold and silver by-products. The concentrate is then trucked from the El Roble mine to the port of Buenaventura. El Roble has been in production for over 23 years, and over this time

Water quality sampling at Kutcho’s namesake project in northern British Columbia. KUTCHO COPPER

period, has produced over 1.5 million tonnes of material, at an average head grade of 2.5% copper and 2.5 grams gold per tonne. In the first six months of this year, El Roble generated 9.4 million payable lbs. of copper, at cash costs of US$1.03 per lb. of payable metal, net of by-product credits. Reserves across the El Roble property total 1.5 million tonnes grading 3.4% copper and 1.88 grams gold. Exploration work at this site has identified a 10-km prospective host rock package, with VMS-style mineralization across this entire strike. There are 15 exploration targets identified within the land package to date. On a near-mine basis, six geophysical anomalies lie within two km of the existing operation, with 13,000 metres of drilling scheduled for 2020. In October, the company announced that it entered into a US$2.5-million loan with Export Development Canada. The 30month facility is expected to provide financial flexibility and contribute funds towards a new dry stack tailings facility at El Roble. In Ecuador, Atico holds a 60% stake (and may earn up to a 75% interest) in the 23-sq.-km La Plata gold-copper-zinc-silver project. This road-accessible property is 100 km from the capital city of Quito and prospective for VMS deposits. A 2019 estimate for the project defined an inferred resource of 1.9 million tonnes grading 4.1 grams gold, 50 grams silver, 3.3% copper, 0.6% lead and 4.6% zinc (12.9 grams gold-equivalent). In August, the company announced that it had hired G Mining, as it aims to deliver a feasibility study for the asset by early 2022. With over nine km of favourable strike at the site, Atico has defined potential for extensions to the current resource model and defined additional exploration and regional targets for follow-up. In September, Atico released exploration results from the North Block at La Plata, reporting widerthan-anticipated intercepts of precious metals-rich VMS mineralization. Drill highlights included 11.1 metres of 1.03 grams gold, 11.47 grams silver, 1.62% copper and 0.2% zinc starting at 15 metres; and 17.2 metres of 3.42 grams gold, 53.97 grams silver, 3.23% copper and 1.65% zinc from 32.3 metres. Atico Mining has a $58.3-million market capitalization. C3 METALS C3 Metals (TSXV: CCCM) is a copper-gold explorer, whose flagship asset is the 57-sq.-km Jasperoide project in southern Peru’s producing Andahuaylas-Yauri belt. Prior exploration work at this site defined copper-gold mineralization within a magnetite skarn, with a proximal hydrothermal alteration signature suggestive of an underlying copper porphyry sys-

tem. High-grade copper-gold skarn outcrops have been mapped over three km of strike. C3 sees potential for a stacked skarn system at the property, with a near-surface oxide copper zone, with deeper porphyry-style mineralization. According to a September press release, C3 has identified three key surface exploration and drill targets at the property: Montana de Cobre, Cresta Verde and Callejon de Oro. Montana de Cobre features copper-gold mineralization traced 1.5 km of strike, in skarns, which coincides with a geophysical anomaly. Highlights from prior drilling (completed in 2011 and 2012) included 185.2 metres of 1% copper and 0.39 gram gold starting at 22 metres; and 114.9 metres of 0.97% copper and

0.37 gram gold from 37.1 metres. At Cresta Verde, outcropping skarn mineralization also coincides with a geophysical anomaly. A drillhole completed in 2011 into this area hit 23.5 metres of 1.86% copper starting at 19 metres. There are three kilometres of untested strike within this target area for step-out drilling. Callejon de Oro also includes a magnetic anomaly, with past trenching returning high-grade epithermal-style gold mineralization. One of the trenches returned an 11 metre interval of 19.5 grams gold. According to Tony Manini, C3’s executive chairman, the geology at Jasperoide is “consistent with several of the major deposits discovered in the district,” and “the soil geochemistry and geo-

physics clearly indicates a far bigger system than has been tested by drilling to date.” No drilling has been completed at this site since 2012. Surface exploration work is now underway, with a 3,500-metre drill program expected to follow. The company also holds 207 sq. km of ground in Jamaica, prospective for copper and gold mineralization, in addition to two porphyry copper-gold properties in B.C. and the Stewart Brook gold project in Nova Scotia’s Meguma gold belt. In August, C3 closed a $2.4-million private placement, with proceeds intended for exploration at Jasperoide. C3 Metals has a $18.8-million market capitalization. n DORÉ COPPER Doré Copper (TSXV: DCMC) holds approximately 105 sq. km of ground in the Lac Doré/Chibougamau mining camp in Quebec. These holdings include three copper-gold deposits: Corner Bay, Cedar Bay and Devlin, with additional historic resources at Copper Rand. Cedar Bay and Copper Rand are past-producing sites, with a 2,700 tonne per day processing plant at Copper Rand, in addition to a previously permitted tailings facility. The company’s mineral assets are within 60 km of the mill complex.

See SNAPSHOT / 10

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OCTOBER 26–NOVEMBER 3, 2020 / THE NORTHERN MINER

SNAPSHOT From 9

A 35,000-metre drill program is now underway across the properties, ahead of a resource update and preliminary economic assessment release next year. Exploration at Corner Bay has been ongoing for over 20 years. By 2008, an underground bulk sample program recovered approximately 40,000 tonnes of material, grading 2.48% copper and 0.44 gram gold per tonne. A ramp extends down to a depth of 115 metres at this property, with 2 km of development over three levels. Based on a 2019 resource estimate, Corner Bay resources total 1.4 million indicated tonnes at 3.01% copper and 0.27 gram gold, with a further 1.7 million inferred tonnes grading 3.84% copper and 0.27 gram gold. The deposit is open for expansion at depth and along strike. In September, Doré announced drill results from Corner Bay, which extended the main deposit by 125 metres to the south and over approximately 300 metres downdip. Notable intercepts included 6.3 metres of 3.03% copper, 0.11 gram gold and 6.6 grams silver; and 6.5 metres of 4.1% copper, 0.38 gram gold and 13.2 grams silver. Cedar Bay, northwest of Corner Bay, generated 3.8 million tonnes grading 1.63% copper and 3.1 grams gold between 1958 and 1990, and includes a shaft down to a depth of 1,036 metres with development extending down to the 754-metre level. Current resources at Cedar Bay stand at 130,000 indicated tonnes at 9.44 grams gold and 1.55% copper, with a further 230,000 inferred tonnes grading 8.32 grams gold and 2.13% copper. Also in September, the company released drill results from Cedar Bay, which hit extensions of three existing veins at the site. Drill highlights included 3.4 metres grading 6.92% copper, 3.1 grams gold and 24.2 grams silver; and 1.7 metres of 7.57 grams gold, 1.65% copper and 15.8 grams silver. The company also has the option to earn a 100% interest in the past-producing Joe Mann property, 60 km from the Copper Rand mill,

with remaining payments of $3.5 million in cash and $2 million in shares due by January 2023. As part of the option agreement, Doré also needs to spend $2.5 million on exploration at the project. Doré Copper has a $19-million market capitalization. n FILO MINING Filo Mining (TSXV: FIL) is working to advance the Filo del Sol copper-gold-silver deposit on the Argentina-Chile border, 140 km from Copiapo in Chile. The two countries have established a Mining Integration and Complementation Treaty for cross-border mining projects. The property contains a high-sulphidation deposit, associated with a porphyry system, and includes an upper oxidize portion. Current drilling has defined this system over an area of at least 3.7 km by 1 km. Resources at Filo del Sol total 425.1 million indicated tonnes at 0.33% copper, 0.32 gram gold and 10.7 grams silver, with a further 175.1 million inferred tonnes grading 0.27% copper, 0.33 gram gold and 6.2 grams silver. This inventory includes an oxide component of 349.6 million indicated tonnes grading 0.34% copper, 0.32 gram gold and 12.6 grams silver, and 103.9 million inferred tonnes at 0.26% copper, 0.32 gram gold and 8.7 grams silver. A 2019 prefeasibility study for Filo del Sol outlined a 14-year, 60,000 tonne-per-day open pit operation, with conventional crushing, heap leaching and hydrometallurgical processing to produce copper cathodes and gold-silver dore. This operation would produce an average of 67,000 tonnes of copper, 159,000 gold oz., 8.7 million silver oz., at average cash costs of US$1.23 per lb. of copper, on a co-product basis, over the life of the mine. With an initial capital cost estimate of US$1.27 billion, the after-tax net present value estimate for the project came in at US$1.28 billion, at an 8% discount rate, with a 23% internal rate of return. The most recent, 8,000-metre drill program at Filo del Sol “transformed our understanding of the size and scale of the Filo system,” according to Jamie Beck, Filo’s presi-

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FOCUS ON GLOBAL COPPER

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Drill Rig at Trilogy’s Arctic project. TRILOGY METALS

Drill rigs on pads 1 and 2 at Arizona Metal’s Kay mine project in Yavapai County, Arizona. ARIZONA METALS

dent and CEO. Beck noted that the results of this drill program confirm “the enormous potential for resource expansion that exists at Filo.” Notable intercepts from this drilling included 1,009 metres of 0.95% copper-equivalent; 1,034 metres of 0.68% copper-equivalent and 73 metres of 2.04% copperequivalent. These intercepts are from areas mostly outside current resource boundaries. In its upcoming drill program, the company plans to drill additional deep holes, in an attempt to find the limits of the Filo del Sol system. Filo is part of the Lundin Group of companies, and has a $216-million market capitalization. n KUTCHO COPPER Kutcho Copper’s (TSXV: KC; USOTC: KCCFF) flagship asset is its 170.6-sq.-km Kutcho copper-zinc property in northern British Columbia. A 2017 prefeasibility study for the project outlined a 12-year, 2,500 tonne-per-day underground operation (with a starter pit) producing an average of 33 million lb. copper and 46 million lb. zinc annually, in addition to gold and silver by-products. With unit operating costs pegged at US$0.59 per lb. of copper, net of by-product credits, and with initial capital costs of $221 million, the after-tax net present value estimate for the project came in at $265 million, at an 8% discount rate, with a 27.6% internal rate of return. Mineralization at Kutcho is made up of three known volcanogenic massive sulfide deposits. The largest deposit, Main, outcrops at surface along a plunging trend trend, with Sumac, and then Esso, down plunge to the west. A feasibility study for the project is now expected in the first half of 2021. The site features measured and indicated resources of 17.3 million tonnes grading 1.85% copper, 2.72% zinc, 0.49 gram gold and 33.9 grams silver and inferred resources of 10.7 million tonnes at 1.18% copper, 1.76% zinc, 0.26 gram gold and 21.5 grams silver. Metallurgical test results released in June, completed on an expected life-of-mine blend of feed from the Main and Esso lenses, suggest combined flotation and tailings leach recoveries of 96.4% for copper, 75.1% for zinc, 70.4% for gold, and

82.9% for silver. The updated results will be incorporated into the upcoming feasibility study. In 2017, Kutcho signed a US$65million precious metals purchase agreement with Wheaton Precious Metals (TSX: WPM; NYSE: WPM). This financing package provided over US$100 million in funding, with up to US$20 million available towards development, in the event that Kutcho expands towards a 4,500 tonne-per-day operation. The streamer has also loaned Kutcho US$20 million in a convertible term debt loan. As a result of this financing package, the preproducer estimates that approximately 8% of project revenues are connected to a stream. In September, Kutcho closed a $2.2-million private placement. On the exploration front, the company has identified near-resource targets between the Main and Sumac deposits, down dip of the three deposits, and to the west of Esso. Kutcho Copper has a $17-million market capitalization. n POLYMET MINING PolyMet Mining (TSXV: POM; NYSE: PLM) is looking to re-start the LTV Steel processing site in northeastern Minnesota by developing its NorthMet copper-nickelPGM-cobalt deposit, which is part of the Duluth geological complex. The developer wholly owns the past-producing project, which also includes rail, roads and utilities connecting the orebody to the plant, 11 km away. Proven and probable reserves at NorthMet stand at 290 million tons, grading 0.29% copper, 0.08% nickel, 0.26 gram palladium, 0.08 gram platinum, 0.04 gram gold and 74 grams cobalt. PolyMet has also identified opportunities to grow current resources and reserves, with undrilled up-dip potential around existing pit designs. NorthMet is permitted for construction and operations. Although PolyMet has permits in hand, the permits have been subject to ongoing litigation. Thus far, the company has successfully defended itself in at least six of eleven state and federal cases challenging the project. PolyMet is looking to develop a staged operation at NorthMet. The first phase would feature an

W . N OR TH ER N M I N ER . COM

open pit operation producing copper and nickel concentrates. To develop this part of the project, the company would need to refurbish existing facilities, install new processing equipment and upgrade the tailings baisin. This first stage could operate at 59,000 tonnes per day, and produce, on average, 155 million copper-equivalent lb. a year, at cash costs of US$0.72 per lb., with additional expansion potential. With a project capital cost estimate of US$1.1 billion, the net present value estimate for this development stands at US$751 million, at a 7% discount rate, with an 18% internal rate of return. A second phase would involve the construction of a 1,000 tonneper-day hydrometallurgical facility, to improve metal recoveries and produce value-added products, such as nickel-cobalt hydroxide, a platinum group metal precipitate and higher-quality copper concentrate. To build the second stage, PolyMet would need an additional US$259 million. Glencore (LSE: GLEN) is PolyMet’s largest shareholder, and has established an offtake agreement with the company. The junior is now looking to secure debt and equity financing for project optimization and construction. PolyMet Mining has a $521.6million market capitalization. n TRILOGY METALS Trilogy Metals (TSX: TMQ; NYSE-AM: TMQ) has a 50% stake in a joint-venture partnership with Australia’s South32 (ASX: S32) covering the Upper Kobuk copperzinc-lead-gold-silver-cobalt properties within the Ambler mining district in northwest Alaska. The Arctic project, 470 km northwest of Fairbanks, is the most advanced holding within Upper Kobuk. In August, Trilogy announced the results of a feasibility study for Arctic. This study outlined a 10,000-tonne-per-day, 12-year open pit operation, with a conventional mill and flotation process, producing copper, zinc and lead concentrates. These would be transferred by truck to the Alaska railroad. This operation would produce an average of 155 million lb. of copper, 192 million lb. of zinc, 32 million lb. of lead, 32,165 oz. of gold and 3.4 million oz. of silver annually, at all-in cash costs (which include initial and sustaining capital, as well as operating and closure costs, net of by-product credits) of US98¢ per lb. of payable copper. With an initial capital cost requirement of US$905.6 million and base-case long-term metal prices of US$3 per lb. of copper, US$1.1 per lb. of zinc, US$1 per lb. of lead, US$1,300 per gold oz. and US$18 per silver oz., the after-tax net present value estimate for the project comes in at US$1.1 billion, at an 8% discount rate, with a 27% internal rate of return and a 2.6-year payback period. According to Tony Giardini, Trilogy’s president and CEO, the Arctic project is unique due to its highgrades and polymetallic content in an open-pit mining scenario. The Arctic deposit includes a reserve of 43.4 million tonnes at 2.24% copper, 3.12% zinc, 0.54% lead, 0.47 gram gold and 34.69 grams silver. Trilogy has now started the permitting process for Arctic, which is expected to take three years to complete, ahead of a three-year engineering and construction period. Geophysical surveys have also identified prospective anomalies around the Arctic deposit. Trilogy also has a local partnership with NANA, an Alaska Native regional corporation, with a framework for exploration and development within the area, with an additional infrastructure partnership with the state. Trilogy Metals has a $331.8-million market capitalization. TNM

SPECIAL FOCUS

DIAMONDS IN CANADA Diamond market shows signs of revival ANALYSIS

| Despite price bounce, market is still far from healthy

BY ALISHA HIYATE

EDITOR-IN-CHIEF OF DIAMONDS IN CANADA AND THE CANADIAN MINING JOURNAL

fter being virtually shut down since March, the diamond market has slowly come back to life. This fall, De Beers, the world’s largest diamond producer by value, reported a growing momentum in sales. Several small producers also reported their first regular diamond tenders in Antwerp in September, and mines such as Renard in Quebec and Mothae in Lesotho that have been on care and maintenance since March have restarted. Anecdotal evidence suggests that diamond prices have rebounded from lows earlier in the year, says Edward Sterck, director of mining research at BMO Capital Markets. “In terms of pricing, and bear in mind, this is all anecdotal because we don’t have any real data from the companies with regards to the September quarter, I’m hearing that prices are about 5% below where they were in February. So they’re back to pre-Covid levels or close to.” By some estimates, prices at the peak of the pandemic were down by 20-30%, but in a very low volume market. Despite the price bounce, the market is still far from healthy. Sterck cautions that De Beers and Alrosa, the largest producers, have amassed large inventories of rough since the pandemic began. How they handle those inventories will have big implications for the survival of smaller producers. “The current strength in rough diamond pricing is probably sustainable only so long as we see continued discipline from De Beers and Alrosa in terms of the pace at which they liquidate the excess inventory they’ve accumulated during the last six months or so,” he says. If they decide to be “kind” and sell their inventories back into the market fairly slowly, it would be supportive of the market in general. “I’m not sure that one can necessarily guarantee that that will be the case,” Sterck says. “They’ve got their own shareholders to worry about. Their behaviour is probably not going to be predicated on trying to support everyone else.” Sterck puts pre-Covid rough diamond demand at around 130 million carats per year and 2020 production capacity at about 100 million carats, after cuts to production. “In the medium to long term, it’s possible we could see better prices after that inventory is depleted. The first question is, how long will that take? The second question is, is it fair to assume that consumer demand for diamond jewelry will return to preCovid-19 levels? That, I think, is an open question at the moment.” In its most recent sight, De Beers reported revenues of US$467 million, up from US$334 million in its seventh sight, and US$116 million from the sale before. In a research note, Sterck said the numbers indicate

Diamonds from Stornoway’s Renard mine in the James Bay region of Quebec. STORNOWAY DIAMONDS

the diamond pipeline is in restocking mode for the upcoming holiday season, but since the company doesn’t release volume or pricing information, pricing momentum is difficult to gauge. Renard restart While the strength of the market may still be uncertain, it’s been encouraging enough for Stornoway Diamond to reopen its Renard mine in Quebec. The company was delisted and restructured last year, after entering

creditor protection, and then acquired by a group of its creditors, including 35% owner Osisko Gold Royalties (TSX: OR). The mine had been on care and maintenance since late March, when the Quebec government ordered the suspension of mining operations. While mines were allowed to reopen in April, Stornoway chose to keep the mine on care and maintenance, citing the depressed diamond market. See ANALYSIS / 12

Sale of Dominion’s Ekati mine hits ‘impasse’ CANADA

| Company in creditor protection

BY NORTHERN MINER STAFF

he future of the Ekati diamond mine in Canada’s Northwest Territories remains uncertain after Dominion Diamond Mines announced that a deal to sell it to a subsidiary owned by its parent company, The Washington Companies, has fallen apart. Dominion Diamond reported on Oct. 9 that three insurance companies – Aviva Insurance Company of Canada, Argonaut Insurance and Zurich Insurance – had reached “an impasse” in negotiations with the purchaser, and stated “there is no reasonable prospect of reaching a satisfactory agreement among them.” Dominion Diamond, which was purchased by The Washington Companies in November 2017 for US$1.2 billion, was granted creditor protection in April. Mining was suspended and the Ekati mine placed on care and maintenance in March due to the coronavirus. Altogether, the three insurance companies have issued about $280 million in surety bonds to the government of the Northwest Territories that were intended to guarantee that the diamond mine could be closed safely and reclaimed once the mine closes permanently. The sale was subject to a condition that the insurance companies and the purchaser reached an agreement

on the treatment of the existing surety bonds. Dominion remains in creditor protection until Nov. 7, 2020, unless extended, it said, and is working with its advisors on the next steps. “The company will be assessing all strategic alternatives to return the Ekati diamond mine to full operations for the benefit of its employees, the Northwest Territories and other stakeholders,” Dominion Diamond stated in its news release. The company has also confirmed that Pat Merrin, the company’s interim CEO since February, has relinquished that role. “In light of this development, Pat has advised that it would be appropriate that he step down as Interim CEO,” a company spokesman wrote in an email to The Northern Miner. “Kristal Kaye, CFO and Mike Welch, COO will lead Dominion through this challenging period with strong support from the rest of the management team and our independent Chairman Brendan Bell.” Dominion Diamond is one of the world’s largest producers and suppliers of premium rough diamonds. The company owns a controlling interest in the Ekati diamond mine, which it operates, and 40% of the Diavik diamond mine. In addition, it holds a controlling interest in the Lac de Gras diamond project, also in the Northwest Territories. TNM

Using innovation, creating value, making a difference across the diamond industry Lucara is a leading independent producer of large exceptional quality Type IIa diamonds from its 100% owned Karowe Mine in Botswana and owns a 100% interest in Clara Diamond Solutions, a secure, digital sales platform positioned to modernize the existing diamond supply chain and ensure diamond provenance from mine to finger.

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DIAMONDS IN CANADA

OCTOBER 26—NOVEMBER 3, 2020 / THE NORTHERN MINER

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ANALYSIS From 11

The new owners decided to reopen in September based on both encouraging signs from the market and confidence in its restart plan for Renard, says Benoit Brunet, Osisko’s vicepresident, business strategy. “We had worked during the summer at outlining a pretty comprehensive detailed plan of what a restart scenario could look like,” Brunet says. “Once we had outlined that, and cross-referenced that scenario with the market dynamics at that time, we felt that it was a good time to give it a shot. It was the combination of both the market and confidence in the restart plan that allowed us to restart the operation in September.” The restart plan involves implementing $30 million in cost-cutting measures over 16 months, including some worker layoffs. At the same time, the partners put in place a $30-million senior secured working capital facility in case of cash crunches the operation may experience over the next couple of years. Alongside the operational restart, Stornoway held its first tender since the start of the pandemic in September, selling more than half of its inventory of 332,000 carats. Brunet wouldn’t comment on pricing, but said the partners were pleased with the sale. “In September, there were a bunch of people going back to the market. A lot of the normal tendering mines had sales, and I would say that the attendance was pretty much in line with what we would have expected and what we saw pre-Covid.” Alternative sales processes While trading in Antwerp resumed in May, the business is still limited by travel restrictions, says Sterck. “One of the restrictions – and this hasn’t really changed – is the interna-

Diamond miners at Stornoway’s Renard mine in north-central Quebec. STORNOWAY DIAMONDS

“PRICES ARE ABOUT 5% BELOW WHERE THEY WERE IN FEBRUARY. SO THEY’RE BACK TO PRE-COVID LEVELS OR CLOSE TO.” EDWARD STERCK, DIRECTOR OF MINING RESEARCH, BMO CAPITAL MARKETS

tional travel limitations, which just make it very difficult, almost impossible, for diamantaires from India in particular to travel to Antwerp or Botswana to go and view goods before purchasing.” That means that alternative sales processes instituted by many of the

smaller producers, including Lucara Diamond (TSX: LUC), Mountain Province Diamond (TSX: MPVD), and, most recently, Lucapa Diamond (ASX: LOM), are likely to stay in place. The arrangements have allowed the miners to generate revenue during the pandemic, and even to get a

slice of the revenue from the polished outcome of their production. Lucara’s deal with the HB Group is for diamonds larger than 10.8 carats and will last through 2020, while Mountain Province’s $100-million sales arrangement is with Dunebridge Worldwide, a company controlled by its largest shareholder, and Lucapa’s involves direct offtake agreements with diamantaires. “The sales measures are all very different, and I think it’s pretty hard at this point to really judge them,” Sterck says. “I think the key thing for all of them is, whatever alternative sales process they’ve put in place,

that’s allowed them to keep the wolves from the door.” As to whether the pandemic has forced the diamond sector, which has been slow to modernize the way diamonds are bought and sold, to innovate, Sterck says that’s still to come. “I think the sellers have been keen to innovate for a while, but it’s about persuading the customer base [diamantaires] to have comfort in the alternative sales and purchasing methods,” he says. “I hesitate to say that right now we’re seeing innovation that will be transformative going forward. But the pandemic probably will precipitate that.” TNM

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GLOBAL MINING NEWS

DIAMONDS IN CANADA

THE NORTHERN MINER / OCTOBER 26–NOVEMBER 3, 2020

DIAMONDS SNAPSHOT: SEVEN SMALL DIAMOND PRODUCERS AND EXPLORERS TO WATCH BY ALISHA HIYATE

EDITOR-IN-CHIEF OF DIAMONDS IN CANADA AND THE CANADIAN MINING JOURNAL

The Covid-19 pandemic has choked off revenue for diamond producers and funding for diamond juniors for much of the year. But with the diamond trade slowly starting to reopen and buyers and sellers adjusting to life under the pandemic, some companies outside of the big two – De Beers and Alrosa – have proven to be resilient. Here’s a look at seven small diamond producers and explorers that are soldiering on. n GEM DIAMONDS Gem Diamonds’ (LSE: GEMD) Letšeng mine in Lesotho, known to host large, high-quality Type II diamonds, has continued to deliver exceptional diamonds this year, with 12 diamonds larger than 100 carats recovered to date. The latest stones included a 442-carat diamond Type II stone in August, and 233-carat and 166-carat Type II white diamonds in September. Production at the Letšeng openpit mine was suspended for 30 days early in the pandemic, but resumed in late April. On the sales side, Gem has been successful in adopting flexible tender processes to continue diamond sales during travel restrictions associated with the pandemic. Its average sales price for the first half of 2020 was US$1,707 per carat on 43,384 carats sold. The company reported a net loss of US$1.7 million for the first half of 2020 on revenue of US$69.5 million. That compares with US$4.2 million in net earnings on US$91.3 million in revenue in the comparable period of 2019. It ended the first half with cash reserves of US$17.5 million and US$51.6 million in available debt facilities. In its recent results, the company noted that it expects a recovery in the diamond market in the medium to long term as demand grows and supply shrinks, particularly in the higher quality categories. Gem has also achieved positive results from a business transformation program it launched in 2018. The company says the program has delivered US$65 million in benefits to date. n LUCARA DIAMOND With the global Covid-19 pandemic casting uncertainty on the global diamond market and its ability to generate revenue, Lucara Diamond (TSX: LUC) announced a supply agreement in July with HB Group for 10.8 carat-plus stones produced at its Karowe mine in Botswana. Diamonds weighing more than 10.8 carats usually account for 70% of Lucara’s revenue; however, the company suspended sales of diamonds in the category in March. The agreement, which will continue through 2020, will see HB acquire diamonds at a price based on the estimated polished outcome. Any difference will be accounted for after the achieved final sale of the polished stone, less a fee and the cost of manufacturing.

HB is an Antwerp-based, diamonds-focused technology company. Lucara said the deal will provide regular cash flow for the company and better sales prices than regular sales arrangements. The company is also selling diamonds through its Clara digital platform, which has seen a growing customer base during the pandemic. The company completed five sales on Clara, which was up to 46 customers in August. It also had its first regular tender in Antwerp on June 18, as travel restrictions started to ease. During the second quarter, the company generated a total of US$7.5 million in revenue from both avenues, with sales restricted to stones under 10.8 carats. Lucara’s Karowe open pit mine has continued to operate during the pandemic. The company reported a net loss of US$13.9 million on revenues of US$7.5 million for the sec-

Laydown area and core shack at North Arrow’s Naujaat project in Nunavut. NORTH ARROW MINERALS

ond quarter, with 68,979 carats sold at an average price of US$109 per carat. Karowe produced 101,200 carats during the quarter, from 705,421 tonnes processed at an average grade of 14.3 carats per hundred tonnes.

n MOUNTAIN PROVINCE DIAMONDS In September, Mountain Province Diamonds (TSX: MPV) resumed traditional sales of diamonds while also doubling the value of its alternative sales agreement with Dune-

bridge Worldwide to $100 million. The company holds a 49% interest in the Gahcho Kue diamond mine in the Northwest Territories, which is operated by 51%-owner De Beers. While the project has remained open during the pandemic, Mountain Province hasn’t been able to sell its portion of production, due to travel restrictions related to the virus. The company held its first traditional sale since the start of the pandemic on Sept. 19 in Antwerp, with a second sale planned to close on Oct. 31. The initial sale brought in a modest US$8.9 million, from 210,661 carats sold at an average price of US$42 per carat. The company also received shareholder approval to increase its sales agreement with Dunebridge Worldwide, originally announced See DIAMONDS SNAPSHOT / 14

A Canadian natural resource company focused on exploring and developing Saskatchewan’s diamond resources

Diamond populations from the Star and Orion South Kimberlites include Special (+10.8 carats), Fancy (yellow) and a high proportion of Type IIa diamonds.

TSX: DIAM

www.stardiamondcorp.com @StarDiamondCorp

DIAMONDS IN CANADA

OCTOBER 26–NOVEMBER 3, 2020 / THE NORTHERN MINER

WWW.NORTHERNMINER.COM

Above: RJK’s Peter Hubacheck looking over core from 2020 drilling at the company’s claims near Cobalt, Ontario. RJK EXPLORATIONS

Above: Trench cutter sampling rig at Star Diamond’s Star-Orion South project in Saskatchewan. STAR DIAMOND Right: 442 carat Type IIa white diamond recovered at Gem Diamond’s Letšeng mine in Lesotho in August 2020. GEM DIAMONDS

and a negative net working capital of $330.8 million.

DIAMONDS SNAPSHOT From 13

in June, to $100 million. The agreement, which includes only run-ofmine diamonds under 10.8 carats, preserves upside potential in diamond prices for Mountain Province. While Dunebridge buys the diamonds at current market prices, the junior will participate in 50% of any future upside when the goods are sold. Dunebridge is controlled by Dermot Desmond, who owns about a third of Mountain Province’s shares. In September, the company also received shareholder approval to transfer its US$25 million senior secured debt facility from existing lenders to Desmond, in effect, refinancing and extending the facility. The interest rate has been adjusted to 5% per year, payable monthly, and certain financial covenants have been removed for one year. In the second quarter, Mountain Province reported revenue of $34 million at an average realized price of US$33 per carat, and a net loss of $26.8 million. Of the total sales, $30.6 million were sold to Dunebridge. The company noted that the 757,360 carats of diamonds sold do not represent normal runof-mine production. The company held $16.8 million in cash at the end of the quarter

NORTH ARROW MINERALS In August, North Arrow Minerals (TSXV: NAR) received notice that its new partner, EHR Resources (ASX: EHX), had raised enough cash to fund a bulk sample at the junior’s Naujaat project in Nunavut next summer. The two companies signed an option agreement in June that will see EHR earn up to a 40% interest in Naujaat in return for a $5.6-million investment. North Arrow is planning a 1,5002,000-tonne bulk sample program that will take place between June and August 2021. The sample, which will be extracted from the 1.3-sq.-km Q1-4 kimberlite at Naujaat, will be shipped south and processed in the fourth quarter, with full results expected in the first quarter of 2022. North Arrow received $300,000 earlier in the year to supply the project by sealift in preparation for the sample. Q1-4 is known to host rare orangey-yellow diamonds and has an inferred resource of 48.8 million tonnes grading 53.6 carats per hundred tonnes for 26.1 million carats. However, a bigger sample of diamonds is required to assess the population of coloured diamonds at Q1-4 and their value. n

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North Arrow and EHR also have a non-binding letter of intent to negotiate a second agreement under which EHR can earn an additional 20% interest in Naujaat by funding a 10,000-tonne bulk sample. The project is located 9 km northeast of the community of Naujaat. Perth-based “diamond incubator” EHR Resources raised A$10.6 million (US$7.5 million) in August and recently announced the appointment of Kim Truter, the former CEO of De Beers Canada, as a non-executive director, and George Read, an executive with Star Diamond, as vice-president exploration. This fall, North Arrow is also conducting a ground gravity survey at its wholly owned Loki diamond project in the Lac de Gras region of the Northwest Territories. n PANGOLIN DIAMONDS In June, Botswana-focused Pangolin Diamonds (TSXV: PAN) received approval for a 500-tonne bulk sample program at its AK10 kimberlite. The bulk sample will be extracted from underground by Pangolin’s joint-venture partner at the project, Makunwu Civil Blasting, via a vertical shaft that extends to a depth of 13 metres. The shaft will be extended to a depth of 32 metres, with four horizontal drifts developed at the 15, 20, 25 and 30-metre levels to a maximum of 5 metres in each direction. Pangolin plans to crush the bulk sample material to a maximum of 8 mm, and process it onsite using a dense media separation (DMS) plant. The junior is earning a 75% interest from a private company in the project, located 4.4 km from Lucara Diamond’s (TSX: LUC) Karowe mine. Under the agreement, signed in 2018, Pangolin is required to complete the sample by year-end. The company announced its intention to raise $600,000 through a private placement in June. The company also plans to follow-up on the KW04-C dyke, discovered through soil sampling, and to drill its Kweneng project, which was discovered before Botswana’s pandemic-related lockdown earlier this year. Soil sampling revealed a 250- by 850-metre kimberlitic chromite anomaly with more than 50% of the chromites analyzed classified as diamond-inclusion type chromites. Drilling intersected a shallow, ultramafic hypabyssal dyke with a true width of 6 metres. Follow-up work will include sampling to trace the extent of the dyke, sampling for microdiamond analysis, and a sample of up to 20 tonnes for macrodiamond analy-

sis. Pangolin says the highly altered material recovered from the dyke appears similar to diamond-bearing bodies discovered 33 km away in the 1990s. The company has also conducted field programs at its Malatswae and Motloutse projects this year that are expected to generate 10 to 15 drill targets. Pangolin has a total of seven 100%-held projects in Botswana covering 107 sq. km of claims. n RJK EXPLORATIONS RJK Explorations (TSXV: RJX.A) announced its second discovery of a diamond-bearing kimberlite at its claims near Cobalt, Ont., in July. The company is searching for the source of the famous Nipissing yellow diamond, estimated at 700-800 carats, which was found nearby in the early-1900s. The discovery, announced in July, was at the KON1 target, 400 metres south of the known KON kimberlite dyke. A 277-kg sample taken from KON1 returned 7 microdiamonds varying in colour from clear to white. The first hole into the target hit kimberlite, in several phases, from 11 metres depth to 100 metres depth. RJK plans to follow up with large-diameter core drilling. RJK’s first find was announced in April at its Nipissing diamond project, where 18 microdiamonds were recovered from a 22.4-kg sample from the Paradis Pond target. The microdiamonds varied in colour, including clear white, yellow and light green. The mini-bulk sample was actually a retest of four holes drilled at the target in 2019. The company noticed similarities between the Paradis Pond core and the core from KON1 (drilled early in the year) that prompted it to get the core retested at Chuck Fipke’s CF Mineral Research instead of the labs that did the original investigation. In August and September, RJK followed up with 10 more holes at Paradis Pond, which all intersected kimberlite, while microdiamond results are pending. The Paradis kimberlite is described as a flat-lying formation unconformably draped on top of granitic bedrock and covered by shallow overburden. The kimberlite varies in true thickness from 7 metres to 16 metres. A few more holes are planned for the year on both projects, and RJK is awaiting permits for further drilling. The junior holds claims (both staked and optioned) totalling 170 sq. km in the Cobalt mining camp, in a well-established kimberlite field within the Lake Temiskaming Structural zone.

n STAR DIAMOND Star Diamond (TSX: DIAM) will have its day in court with Rio Tinto (NYSE: RIO; LSE: RIO), which the junior has accused of invalidly exercising an option to earn 60% of its Star-Orion South project, 60 km east of Prince Albert, Saskatchewan. The court date has not yet been set, but the junior started legal proceedings against Rio Tinto in March. In August, a Saskatchewan court quashed Rio Tinto’s petition to dismiss the suit. The two companies signed a 7.5year option agreement in 2017 that gave Rio Tinto the right to earn 60% of the project by spending a total of $75 million in four stages. Star has accused the major of “predatory practices,” misrepresenting the costs of Rio Tinto’s work program under the option agreement, and attempting to dilute the junior’s stake. Once Rio Tinto has earned 60% of Star-Orion, Star will have to fund its 40% share of project costs or see its ownership diluted. Rio Tinto, which completed a 10-hole bulk sample at the project last year, gave Star notice in November that it was exercising all four options at once and ahead of schedule. The major has proposed a $106-million program at the project this year, according to court documents. Star is protected from having to raise funds for its portion of spending for at least several months. As it stands, Rio Tinto is prohibited from calling a meeting of the management committee under the JV agreement (where the budget would be set) until 120 days after it releases all results from the 2019 bulk sample. The sample is currently being processed at a facility built onsite by Rio Tinto. At press time, Star Diamond had received and reported preliminary results from the first four holes of the bulk sample, with the remainder expected before the end of 2020. The fourth sample, weighing 1,179.4 tonnes, returned 3,005 commercial-sized diamonds weighing 131.82 carats at various grades of between 0.16 carats per hundred tonnes (cpht) to 12.9 cpht. In total for the four samples reported to date, 505.45 carats have been recovered from 5,219.65 tonnes, with the largest diamond recovered so far weighing 6.28 carats. Star Diamond says the results are in line with historical grades from underground bulk sampling and large-diameter drilling at the Star kimberlite. However, in a news release, Star Diamond’s president and CEO Ken MacNeill said the junior believes that the novel technology Rio Tinto used to excavate the bulk sample (a trench cutting rig adapted from civil engineering applications) has caused “undue diamond breakage” in the recovered diamonds. A 2018 preliminary economic study on Star-Orion South outlined a $1.4-billion project that could produce 66 million carats over 34 years. TNM

GLOBAL MINING NEWS

THE NORTHERN MINER / OCTOBER 26–NOVEMBER 3, 2020

SQM aims to cut water, brine use by 50% ENVIRONMENT

BY CECILIA JAMASMIE

Mining.com

hile’s SQM (NYSE: SQM), the world’s second largest lithium producer, will voluntarily cut its use of fresh water and brine from the Atacama desert to mitigate the overall impact of its operations in one of the driest places in the world. The company, which produces lithium by pumping brine from beneath the desert and concentrating it through evaporation in pools, has committed to reduce its use of “continental” water by 20% from November this year. The goal, it said, is cutting water use by 50% by 2030. To achieve those goals, the miner will have to improve production processes and increase the use of sea water. It will require an investment of around US$40 million in the first phase and US$65 million for the second phase. SQM also vowed to produce carbon-neutral lithium by 2030, as part of a larger, US$100 million emissions reduction drive. The lithium miner said the plan should not have an impact on its nearor long-term lithium production. “There is no trade-off between being cost-competitive and being leaders in sustainability,” CEO Ricardo Ramos said in a statement. “These are commitments that we

EXPLORATION From 2

Ltd., completed drilling at the Spout magnetite-copper prospect, resulting in an initial in-house resource estimation of 595,000 tonnes grading 1.78% copper, 51% magnetite, and 0.12 gram gold per tonne. The drilling also revealed copper mineralization within the Peach Melba prospect and low-grade copper mineralization with enriched gold on the Aurizon South prospect. The companies terminated the agreement in 1995. That same year, GWR completed three diamond drill holes at the Aurizon gold zone as a follow-up to the 1994 drill program. Highlights included drill hole A95-02, which returned 6 metres grading 0.18% copper and 1.13 grams gold. In 2000, the discovery of an outcrop of copper mineralization on the Aurizon Central prospect sparked further exploration. However, the

| Company vows to produce carbon-neutral lithium by 2030

“THERE IS NO TRADE-OFF BETWEEN BEING COST-COMPETITIVE AND BEING LEADERS IN SUSTAINABILITY.” RICARDO RAMOS, CEO, SQM S.A.

assume out of conviction and voluntarily.” SQM is now producing at record levels of 70,000 tonnes for the year, which has allowed it to build higher levels of inventory ahead of an expected demand boom. The company’s announcement, part of a new sustainable development plan, comes on the heels of SQM losing a high-profile legal battle in Chile. In 2016, Chile’s environmental regulator found that SQM had extracted more brine from the salt flat than permitted. A US$25 million compliance plan presented by the company was dismissed by a court in Antofagasta in December. Despite the company’s appeal, local regulators forced the company in August to redo its environmental compliance plan for its operations. Water has become a bone of con-

main exploration phase did not proceed until 2007. Between 2003 and 2005, GWR drilled 36 holes on the Harvey, Ann Core sample from step-out drill hole G20-49 on the G1 copper zone at EnGold’s Lac La Hache property. ROB SHIVES, ENGOLD

Brine pools and processing areas at SQM’s lithium mine on the Atacama salt flat. SQM

tention for the expansion plans of both SQM and top competitor Albemarle (NYSE: ALB), both of which operate in the Atacama desert, where more than a third of global lithium carbonate supply is sourced. Chile, which holds about 52% of the world’s known lithium reserves, lost its top lithium producer crown to Australia in 2018. The country, however, is working

on reversing that situation. It predicts that lithium will soon become its second-largest mining asset, behind copper. The commodity is currently the country’s fourth-biggest export. SQM’s own expansion plans are on track to be completed by the end of 2021, it said in August. The company expects to extract more lithium from the same amount of pumped brine by using brine

earmarked to produce potash and using higher-grade wells. SQM estimates that Chile would be able to increase its total lithium production through such methods to 300,000 tonnes of lithium carbonateequivalent from its current capacity of just over 100,000 tonnes. TNM

North, Peach 2, Peach Melba, and Spout prospects. In 2006, the company completed a further ten drill holes on the Aurizon Central prospect, confirming the presence of low- to moderate-grade copper mineralization that was first discovered in 2000. The following year, a total of 3,178 metres of trenching and a 43-hole 15,325-metre drill program were undertaken within and around the Aurizon zone prospect. The trenching exposed low-grade copper mineralization with associated gold in discontinuous zones striking to the Aurizon zones’ northwest. The drilling tested the depth of copper mineralization in exposed bedrock in the Aurizon gold zone’s southeastern area. Highlights included drill hole AZ-06-01, which intersected 44 metres grading 0.42% copper and 0.63 gram gold. From 2008 to 2009, the company drilled 48 holes on Aurizon Central and another 20 holes on the Aurizon

South prospect. Highlights included drill hole AZS08-07, which is considered the discovery hole for the Aurizon South deposit. The hole cut 26 metres grading 0.87% copper, 6.28 grams gold and 4.8 grams silver from 316 metres downhole, including 6 metres grading 1.92% copper, 15.5 grams gold and 7.6 grams silver. Additional drilling from 2009 to 2011 extended the Aurizon South zone 600 metres to depth, 60 metres to the north, and 175 metres to the south. From 2011 to 2012, an additional eight holes drilled on Aurizon South increased the mineralized trend’s strike length to about 300 metres. However, exploration began to shift from the Aurizon zones to the Spout deposit in 2010. Between late 2010 and early 2011, drilling was completed at Spout Lake. Highlights included drill hole SL11-177, which returned 2 metres grading 22.8% copper, 26.2% iron, 12.95 grams gold and

125 grams silver from 176.5 metres. In 2012, the company released its first NI 431-10 compliant mineral resource estimate for the Spout deposit. The report estimated 7.6 million indicated tonnes grading 0.28% copper, 11.4% magnesium, 0.05 gram gold and 1.26 grams silver for 47 million contained lb. copper, 871,600 tonnes magnesium, 12,300 oz. gold and 309,700 oz. silver. Inferred resources added 15.8 million tonnes grading 0.21% copper, 8.32% magnesium, 0.04 gram gold, and 0.93 gram silver for 73 million lb. copper, 1.3 million tonnes of magnesium, 20,300 oz. gold, and 472,000 oz. silver. “The 2012 resource estimate was based on an open-pit model and at a time when the market for magnetite was very bullish,” Brett said. “But that approach ended when the magnetite prices collapsed. So by the time I joined the company in

— This article first appeared in MINING. com, part of Glacier Resource Innovation Group

See EXPLORATION / 16

TSXV:NAR

Canada’s Most Active Diamond Explorer

EnGold’s Lac La Hache exploration office and core management facility in British Columbia. DAVID BRETT, ENGOLD MINES

info@northarrowminerals.com Suite 960, 789 West Pender Street Vancouver, BC V6C 1H2 604.668.8355

@narminerals northarrowminerals northarrowminerals.com

OCTOBER 26—NOVEMBER 3, 2020 / THE NORTHERN MINER

W . N OR TH ER N M I N ER . COM

Haywood sees gold and silver prices maintaining long-term uptrend | Merger and acquisition activities expected to continue

PRECIOUS METALS

BY MINING.COM STAFF

espite a more tempered performance from precious metals during the third quarter of 2020, gold and silver prices still demonstrated gains and outperformed the initial expectations of analysts at Haywood Research. During the quarter, gold prices averaged US$1,911 per oz., which was above the firm’s forecasted gold price of US$1,800 per oz. and 11% higher than the second-quarter average of US$1,714 per ounce. Silver averaged US$24.35 per oz., again above the forecast of US$18.00 per oz. and 49% higher than the second-quarter average of US$16.38 per ounce. Year-to-date, gold and silver — up 26% and 41%, respectively — have appreciably outperformed the S&P 500 (up 6%) and the TSX Composite Index (down 3%), Haywood said. In its latest commodities report, the firm maintains its view that the precious metals complex is still within a long-term uptrend, and believes that the ongoing pullback from peak gold price levels reached in August represents a “healthy period of consolidation.” The trend also supports a base that Haywood expects will remain above the 2011 high of US$1,923 per oz. as “ongoing macroeconomic factors remain constructive.”

EXPLORATION From 15

2014, their exploration focus had already moved away from copper to the gold mineralization contained in the hydrothermal breccias at the Aurizon deposit.” In 2016, GWR changed its name to EnGold to reflect this new direction. One of the key upsides for the project is that EnGold’s vice president of exploration, Rob Shives, has been with the project since 2009. “Projects like Lac La Hache can suffer if they don’t have what I call ‘knowledge succession’ that can be leveraged for future exploration work,” Brett said. According to Brett, Shives was so impressed by Lac La Hache that he left his job at the Geological Survey of Canada to work on it. The new approach was formulated in 2017, when the company’s geologists discovered a new zone while drilling a geophysical anomaly discovered, which revealed an unexplored area south of the Spout deposit in 2015. The discovery drill hole, G16-01, intersected a 27-metrethick zone containing semi-massive magnetite (>40% magnetite) and chalcopyrite (1.76% copper, with 14 metres of the 27 metres exceeding 2% copper). The new G1 copper zone, 1.8 km south of the Spout deposit and 10 km northwest of the Aurizon zone, also contained higher gold and silver grades than at Spout. The discovery prompted the company to bring a second drill on-site, which also intercepted numerous mineralized areas. The highlight was hole G1716, which cut 43 metres grading 1.31% copper, 31.14% iron, 0.20 gram gold, 4.06 grams silver (1.54% copper equivalent) starting from 293 metres, including 24 metres grading 1.67% copper, 34.55% iron, 0.29 gram gold and 5.09 grams silver

First doré from Agnico Eagle Mines’ Meliadine mine in Nunavut. AGNICO EAGLE MINES

Looking ahead, the firm has lifted its fourth-quarter 2020, 2021 and long-term forecasts to US$1,900 per oz., US$1,850 per oz. and US$1,800 per oz., respectively, while acknowledging that further revisions may be needed following next month’s U.S. presidential election. On the equities side, Haywood’s analysts note that existing valuations will continue to be modest, with many stocks trading at multiples that are seemingly discounting commodity prices below existing spot levels. They expect this valuation discord to eventually converge, as elevated commodity prices support ongoing free cash flow generation, net debt reduction, accretive industry consoli-

(1.99% copper equivalent). “The G1 Copper zone is geologically similar to the Spout deposit, with both containing chalcopyrite, magnetite, and tourmaline mineralization,” Brett said. “You could call them ‘sister deposits’ as it’s impossible to distinguish between the drill cores collected from each area.” The latest drill results, he added, come from 20 metre-spaced step-out holes from hole G17-16 on the G1 Copper zone. The first hole of this year’s program, G20-46, was drilled 20 metres northeast of G17-16 and intersected 34 metres grading 0.88% copper, 20.65% iron, 0.12 gram gold and 2.72 grams silver (1.02% copperequivalent) starting from 306 metres, including 15 metres grading 1.37% copper, 32.03% iron, 0.20 gram gold, and 4.22 grams silver (1.6% copper equivalent). Hole G20-47, 20 metres southeast of G17-16, cut 39 metres grading 0.93% copper, 20.03% iron, 0.10 gram gold and 2.84 grams silver (1.05% copper-equivalent) from 294 metres, including a higher-grade core of 22 metres grading 1.29% copper, 24.71% iron, 0.13 gram gold and 1.76 grams silver (1.43% copperequivalent). “We were very encouraged that our step-out drilling at both holes confirmed the extension of the mineralization intersected by drill hole G17-16,” said Brett. “This was a real game-changer for us, even though we have gold in our name, our story is more a copper-gold one.” The company is now on its fiftieth hole in the area. Although it appeared that the G1 copper zone was narrowing on the flanks of the zone, a recently completed step-out drill hole, G20-49, drilled 50 metres to the south of G1716, suggests that the zone increases in thickness to the south, Brett said.

dation, and shareholder returns via dividend yields and share buybacks. In turn, such trends could “provide generalist investors with additional confidence to allocate capital into the sector,” Haywood said. By the end of the third quarter, GDX and GDXJ, two ETFs that track equities in the gold mining sector, closed 7% and 12% higher, respectively, with gold prices up 5% during the three-month period. Haywood believes that this sector still resides in an “opportune state,” where commodity prices have buoyed equities and facilitated consolidation, mainly amongst the producers, as many have seen expanded margins and higher cash flow due to the higher gold price. It is expected that merger and acquisition activities will continue in the sector, likely involving targets that are progressively smaller or less advanced in profile. As for the outperformers, Haywood maintains that those companies can continue to deliver over the near and medium term, though it prefers investment positioning in gold miners that can “crystallize value through organic growth” from drilling to operations. TNM — This article first appeared in MINING. com, part of Glacier Resource Innovation Group

Another step-out hole, G20-50, is being drilled 50 metres to the south of G20-49. The company also plans to undertake further step-out drilling at what is now being called the “G1 extension zone.” SRK Consulting, which put together the original resource estimate for the Spout deposit, has been engaged to recalculate the mineral resource, but this time using a constrained, high-grade underground model. The 2012 resource estimate only included near-surface material at the Spout deposit, Brett said. The recalculated estimate will also have an initial resource estimate based on the deeper high-grade copper drill results from the G1 extension zone. “It’s taken us some time to get to this position, but we can now move forward from exploring these deposits to putting together a PEA,” Brett said. “We envisage a relatively small mine with a production of about 2,000 to 3,000 tonnes a day.” Brett was keen to point out, however, that discussions around a PEA are a little premature. He noted that the company recently raised around $1 million in funding for the current drill program at the G1 extension zone and several new drill holes on gold targets, which they plan to complete by the end of October. The updated resource estimate is slated for release by year-end. “On top of the extensive historical work and the incremental work that we are doing, we are still finding new opportunities on the property,” Brett said. “The gold story is more of a wait-and-see, so it’s going to take us a month or two before we pull our budget together for next year.” The company plans to raise money to fund the 2021 drill program, which will be contingent on the findings from the remaining drill assays. TNM

Examining cathode at BHP’s Olympic Dam copper-uranium-gold mine and mill in South Australia. BHP

BHP scraps US$2.5B Olympic Dam expansion plan | Ore body revealed to be weaker than expected

AUSTRALIA

BY CECILIA JAMASMIE

Mining.com

ining giant BHP (NYSE: BHP; LSE: BHP) has shelved a planned US$2.5 billion expansion of its Olympic Dam copper, gold and uranium mine in South Australia after studies of the ore body revealed weaker than expected results. While the mine yielded more than 50,000 tonnes of copper in the three months to Sept. 30 — the highest quarterly production since 2015 — BHP decided against proceeding with the brownfield expansion project. “The studies have shown that the copper resources in the southern mine area are more structurally complex, and the higher grade zones less continuous, than previously thought,” it said in a statement. “We have decided the optimal way forward for now is through targeted debottlenecking investments, plant upgrades and modernisation of our infrastructure.” BHP also slashed the operation’s copper production forecast from 350,000 tonnes a year to 300,000, after assessing more than 400 km of drilling samples. The company said it now had an “improved knowledge” of the ore body, adding that the long-term opportunity for Olympic Dam was unchanged. “Our enhanced understanding of the resource in the Southern Mine Area and the promising results from Oak Dam provide strong foundations for unlocking the full growth potential of this asset,” BHP said. This is not the first multi-billion dollar project at Olympic Dam the miner has walked away from in the past decade. In 2012, it put an already long-awaited expansion of the mine on the back burner as a result of falling commodity prices and higher costs. Andrew Mackenzie, the company’s chief executive at the time, even said the project would need a “technological miracle” to make it happen. The world’s largest miner said it would continue to study longer-term options for growth. BHP is currently in the midst of a US$2.5 billion expansion of its Spence copper mine in Chile, which was slated to open by the end of the year. Covidrelated disruptions, however, have moved the first production date to

early 2020, BHP said in April. In the last four years, the company — already the world’s secondbiggest listed copper miner — has boosted exploration spending to find new deposits of the metal, used in construction, renewable energy and electric vehicles. BHP became last year the top shareholder in SolGold (TSX: SOLG; LSE: SOLG), which is developing the Cascabel copper-gold project in Ecuador. The asset has the potential to become one of the largest copper-gold assets ever discovered, with an estimated productive mine life of 55 years. That doesn’t seem enough for BHP. Its new chief executive, Mike Henry, said in February the company needed more “future-facing” metals, such as copper. A month later, Chairman Ken MacKenzie said the miner was in a strong position to make acquisitions if there were opportunities because of the coronavirus. “I’m not sure if there will be any opportunities that will come from this, but if there are, we are actually in a position to act,” MacKenzie said. The company has five major projects underway with a combined budget of US$10.9 billion. One of BHP’s other growth projects, the Jansen potash project in Saskatchewan, Canada, remains on track for a final investment decision in mid-2021, BHP said. “As a consequence of the challenges encountered earlier with placement of the shaft lining and then the more recent impacts from our Covid-19 response plan, the board has approved additional funding of US$272 million for the completion of the shafts, resulting in a total budget of US$3 billion (previously US$2.7 billion),” it said. Once foundation works at Jansen are complete, BHP will decide whether to spend a further US$5.3 billion to US$5.7 billion building the first stage of the mine. That process will take about five years. The company also said its US$3.06 billion South Flank iron ore project in the Pilbara remained on track for first production in mid-2021, despite consultations with traditional owners that are underway in the wake of Rio Tinto’s (NYSE: RIO; LSE: RIO) Juukan Gorge cave blast. TNM — This article first appeared in MINING. com, part of Glacier Resource Innovation Group

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OCTOBER 26—NOVEMBER 3, 2020 / THE NORTHERN MINER

W . N OR TH ER N M I N ER . COM

M A R K E T N EWS TORONTO STOCK EXCHANGE / OCTOBER 12 – 16 The S&P/TSX Composite Index fell 0.75% to 16,438.75 during the Oct. 12-16 trading week. The S&P/TSX Global Mining Index declined by 1.61% to 96.52, and the S&P/TSX Global Base Metals Index climbed 0.78% to 103.67. Spot gold dropped US$30.90 per oz., or 1.60%, to US$1,899.70 per oz., and the S&P/TSX Global Gold Index fell by 1.20% to 364.79. Endeavour Mining rose $1.49 to $35.28 per share. The company resumed operations at its Boungou mine in Burkina Faso following its closure a year earlier by the previous owners Semafo, after an attack that killed 39 people. The reopening of the mine follows infrastructure improvements and a new security plan developed in partnership with Burkina Faso’s government. Endeavour acquired Semafo in July and identified potential synergies of US$35-40 million during the integration process, with about 60% of the benefit to be progressively unlocked by the end of 2020 and the remaining in 2021. The company noted that Boungou has been processing stockpiles since early 2020, and expects the mine to achieve the top half of its 2020 production guidance range of 130,000-150,000 oz. gold at all-in sustaining costs of US$680-$725 per ounce. Kirkland Lake Gold dropped $1.32 to $65.85 per share. The company reported

third-quarter gold production of 339,584 oz., a 3% increase over the 329,770 oz. generated in the previous quarter. The Detour Lake and Fosterville mines led this output, producing 140,067 oz. and 161,489 oz. over the period, respectively. Kirkland sold 331,811 oz. gold during the period, closing out the quarter with US$848 million in cash, a 58% increase during the reporting period. The company also generated US$109.1 million from the sale of 32.6 million shares in Osisko Mining and received a US$75-million payment from Newmont as part of a strategic alliance agreement on properties around Timmins, Ontario. With the strong bottom-line performance, Kirkland grew its quarterly dividend by 50%

TSX MOST ACTIVE ISSUES VOLUME (000s) HIGH

Suncor Energy Kinross Gold Barrick Gold B2Gold Corp Teck Res Yamana Gold New Gold OceanaGold Nutrien First Quantum

SU 34162 K 24290 ABX 17356 BTO 16717 TECK.B 16615 YRI 13686 NGD 13082 OGC 10860 NTR 9091 FM 8699

17.38 12.38 37.55 9.42 18.62 8.27 2.88 2.11 54.25 12.78

WEEK LOW CLOSE CHANGE

15.60 11.53 35.70 8.71 17.14 7.80 2.61 1.99 51.72 12.04

15.67 - 1.21 12.00 + 0.06 36.34 - 0.47 9.08 - 0.02 17.86 - 0.42 7.84 - 0.26 2.71 - 0.04 2.00 - 0.10 52.98 - 0.82 12.38 - 0.36

to US18.75¢ per share, which will come into effect with the fourth quarter payout. Shares of Argonaut Gold fell 4¢ to $2.70. The company’s board approved the construction of its wholly-owned Magino gold project in Ontario. According to Argonaut, the construction of the mine is slated to start in January 2021 and is expected to take two years, with the first gold pour at the operation anticipated in 2023. Before the build can begin,

the company first needs to file a closure plan and post an assurance bond with the province. A 2017 feasibility study estimated the initial capital costs for the project at US$321 million; however, more recent estimates put the initial outlay at US$360-$380 million, which includes contingency and inflation. To meet the updated costs, the company has developed financing that covers over US$400 million in costs through to 2022. TNM TSX GREATEST VALUE CHANGE

TSX GREATEST PERCENTAGE CHANGE VOLUME (000s) HIGH

Orosur Mng Sherritt Intl Belo Sun Mng New Milln Iron Titan Mining Fortune Mnrls Silver Eleph Mandalay Res Almaden Min Northcliff Res Fury Gold EurOmax Res Potash Ridge Minco Silver NextSource Mat Anglo Pac Grp Lithium Amer Corvus Gold Aquila Res Karnalyte Res

OMI S BSX NML TI FT ELEF MND AMM NCF FURY EOX SOP MSV NEXT APY LAC KOR AQA KRN

VOLUME (000s)

WEEK LOW CLOSE CHANGE

5130 0.68 0.28 8380 0.30 0.20 2368 1.43 1.02 2874 0.11 0.08 493 1.10 0.72 608 0.08 0.07 6326 0.52 0.43 107 1.77 1.45 514 1.35 1.03 195 0.04 0.04 2133 3.32 1.87 147 0.04 0.01 4172 0.04 0.03 660 0.68 0.49 6318 0.08 0.06 7 2.41 0.00 2715 19.55 15.73 1299 3.75 3.10 395 0.16 0.14 40 0.28 0.25

0.56 0.27 1.36 0.11 1.01 0.08 0.50 1.72 1.26 0.04 1.87 0.02 0.03 0.55 0.07 2.00 15.82 3.25 0.14 0.25

+ + + + + + + + + + -

96.5 31.7 29.5 29.4 24.7 15.4 14.9 14.7 14.5 14.3 73.6 50.0 25.0 19.1 18.8 17.0 16.5 13.1 12.5 12.5

Eldorado Gold Endeavour Mng Altius Mnrls Labrador IOR Atalaya Mining SSR Mining Lundin Gold Belo Sun Mng Orosur Mng Calibre Mng Fury Gold Lithium Amer Pan Am Silver Kirkland Lake Agnico Eagle Suncor Energy Wheaton Prec M Alamos Gold MAG Silver Franco-Nevada

ELD EDV ALS LIF AYM SSRM LUG BSX OMI CXB FURY LAC PAAS KL AEM SU WPM AGI MAG FNV

6339 1916 273 905 0 3272 1303 2368 5130 3066 2133 2715 1962 3895 2840 34162 3273 6391 956 1473

WEEK CLOSE

17.86 35.28 11.33 26.46 3.00 25.63 12.41 1.36 0.56 2.17 1.87 15.82 43.40 65.85 107.34 15.67 65.77 11.25 23.27 184.38

CHANGE

+ + + + + + + + + + -

1.58 1.49 1.16 0.73 0.35 0.32 0.31 0.31 0.28 0.27 5.21 3.12 1.46 1.32 1.22 1.21 1.18 0.91 0.88 0.82

TSX VENTURE EXCHANGE / OCTOBER 12 – 16 The S&P/TSX Venture Composite Index fell 0.95% or 6.94 points to finish the Oct. 12-16 trading week at 725.31. Spot gold dropped US$30.90 per oz., or 1.60%, to US$1,899.70 per oz., and the S&P/TSX Global Gold Index fell by 1.20% to 364.79. Solaris Resources posted the largest value gain of the trading week, jumping 82¢ to $5.05 per share on no news. The company last issued a press release at the end of September, reporting assays for the second and third drill holes at its Warinzta project in southeastern Ecuador. Hole SLS-02 hit 660 metres of 0.97% copper-equivalent starting at surface, and hole SLS-03 returned 1,010 metres of 0.71% copper equivalent from surface. The junior’s executive chairman, Richard Warke, stated in the news release that Warintza Central “continues to demonstrate the potential to become a large, high-grade open pit copper porphyry deposit, which is a rarity in the modern context of the industry.” Shares of Callinex Mines advanced 35¢ to $2.95. The company reported that it is mobilizing a second drill rig to accelerate the expansion of its Rainbow discovery, where assays from discovery hole PBM-111, reported on Sept.

9, returned 2.96 metres of 3.09% copper, 0.75 gram gold per tonne, 13.35 grams silver per tonne, and 1.88% zinc; and a second interval cut 4.31 metres of 4.12% copper, 0.22 gram gold, 2.21 grams silver and 0.06% zinc. Callinex said samples from two new holes drilled to step-out from PBM-111 are currently being rushed to the lab for assaying. The Rainbow discovery is part of the junior’s Pine Bay project, about 16 km from Hudbay Minerals’ 777 mine in Manitoba. Callinex acquired the 60 sq. km. Pine Bay property in 2009. IsoEnergy’s shares rose 32¢ to $1.34. The company reported drill results from the Hur-

TSX-V MOST ACTIVE ISSUES VOLUME (000s) HIGH

Palladium One Maple Gold Klondike Silv Leeta Gold AbraPlata Res Vision Lithium Uragold Bay Rs Latin American Pac Imperial Aston Bay

PDM 30496 MGM 12782 KS 9676 HIVE 8966 ABRA 8949 VLI 8752 HPQ 8209 LAT 8118 PPM 6687 BAY 5955

0.25 0.36 0.08 0.47 0.39 0.04 0.62 0.08 0.05 0.06

WEEK LOW CLOSE CHANGE

0.15 0.21 0.07 0.40 0.29 0.03 0.50 0.05 0.03 0.04

0.21 + 0.35 + 0.08 + 0.41 0.36 + 0.03unch 0.55 + 0.06 + 0.04unch 0.05 -

0.04 0.13 0.01 0.02 0.03 0.00 0.01 0.01 0.00 0.01

of 11.7% U308, including 2.5 metres of 46% U308. The company said that mineralization on the north-south section now measures at least 48 meters in width and is open to the south, adding that drilling has expanded the zone of mineralization over 30 metres to the south, almost to the “J” fault. TNM

ricane zone at its 100%-owned Larocque East property in Saskatchewan’s eastern Athabasca Basin. Drill hole LE20-64 returned 5 metres of 48.8% U308, including 4 metres of 57.5% U308, and hole LE20-62 cut 4.5 metres of 6.2% U308, including 2.5 metres of 11.1% U308. A third hole, LE20-57, returned 10 metres

TSX-V GREATEST VALUE CHANGE

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

Rhyolite Res Mkango Res BMEX Gold OrganiMax Maple Gold Red Moon Res Lupaka Gold Silver Mtn Mns Hanna Capital Q-Gold Res Tintina Mines QcX Gold Lovitt Res Crystal Peak Waseco Res Rodinia Lithm Power Group Nubian Res Cypress Dev Focus Graphite

RYE MKA BMEX KMAX MGM RMK LPK SMM HCC QGR TTS QCX LRC.H CPM WRI RM PGP NBR CYP FMS

2462 145 1057 53 12782 13 1228 9 1103 660 86 529 40 824 69 1697 2150 372 2266 4441

0.41 0.18 1.05 0.13 0.36 0.10 0.05 0.36 0.16 0.62 0.08 0.32 0.24 0.02 0.05 0.25 0.09 0.58 0.74 0.04

VOLUME (000s)

WEEK LOW CLOSE CHANGE

0.19 0.10 0.50 0.08 0.21 0.07 0.04 0.00 0.10 0.35 0.04 0.18 0.16 0.01 0.03 0.11 0.00 0.41 0.51 0.03

0.39 0.18 0.88 0.13 0.35 0.10 0.05 0.36 0.14 0.62 0.04 0.19 0.16 0.01 0.03 0.13 0.06 0.41 0.51 0.03

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95.0 80.0 72.5 56.3 55.6 46.2 42.9 41.2 40.0 39.3 46.7 42.2 35.4 33.3 33.3 31.6 31.3 28.1 26.1 25.0

Solaris Res Abitibi Royal BMEX Gold Callinex Mines Teslin Rvr Res IsoEnergy Ltd New Found Gold Artemis Gold Universal Vent Eskay Mng Tudor Gold Tanqueray Expl Teuton Res Rupert Res HighGold Confedertn Mls Cypress Dev Gold X Mining Angus Gold Standard Lith

SLS RZZ BMEX CNX SIM ISO NFG ARTG MCLD ESK TUD IPA TUO RUP HIGH TGM CYP GLDX GUS SLL

WEEK CLOSE

652 5.05 5 25.15 1057 0.88 134 2.95 31 6.75 727 1.34 2736 3.28 236 6.09 225 2.55 1176 1.00 465 3.07 2831 2.32 195 2.90 675 5.45 1036 2.71 339 1.64 2266 0.51 702 3.80 4 1.00 1234 1.99

CHANGE

+ + + + + + + + + + -

0.82 0.80 0.37 0.35 0.35 0.32 0.28 0.27 0.26 0.24 0.37 0.35 0.30 0.25 0.22 0.18 0.18 0.18 0.18 0.17

U.S. MARKETS / OCTOBER 12 – 16 The Dow Jones Industrial Average rose 0.07% to finish the week at 28,606.31 and the S&P 500 climbed 0.19% to 3,483.81. Spot gold dropped US$30.90 per oz., or 1.60%, to US$1,899.70 per ounce. Barrick Gold fell US48¢ to US$27.57 per share. The company announced it was moving ahead with plans to extend the life of its Hemlo gold mine in Ontario by transitioning the operation from open pit mining to purely underground mining as a modernized ‘Tier Two’ asset. The company also reported preliminary third-quarter production of 1.16 million oz. of gold and 103 million lb. of copper. Third-quarter gold production was slightly higher (3%) than the second quarter, due to stronger performances from Carlin in Nevada and Pueblo Viejo in the Dominican Republic, and despite the fact that its Porgera mine in Papua New Guinea has been on care and maintenance since April 25. Agnico Eagle Mines fell US$1.38 to US$81.31 on no news. Earlier this month the company announced it was investing $6.2 million into Maple Gold Mines as the two companies unveiled an agreement to consolidate two adjacent land packages in Quebec into a 50:50 joint venture. The agreement

will combine Maple Gold’s Douay project with Agnico’s past-producing Joutel project. Yamana Gold fell US24¢ to US$5.93 per share. The company started trading on the London Stock Exchange on Oct. 13. The gold miner will maintain a primary listing on the Toronto Stock Exchange in addition to a listing on the New York Stock Exchange. Earlier this month, Yamana increased its fullyear production guidance to 915,000 goldequivalent oz. from 890,000 gold-equivalent ounces. The company produced 201,772 oz. of gold and 3.04 million oz. of silver in the three months ended Sept. 30. Yamana also

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

Vale* VALE Yamana Gold* AUY Freeport McMoR* 0.08 Barrick Gold* GOLD Chevron Corp* CVX Kinross Gold* KGC United States S* X Suncor Energy* SU Alcoa* AA Cleveland-Clif* CLF

HIGH

WEEK LOW CLOSE CHANGE

94539 11.36 65819 6.30 FCX58930

10.97 11.09 - 0.10 5.93 5.93 - 0.24 17.30 16.5017.15 -

52620 45174 38342 37848 37268 37263 30964

27.18 71.39 8.77 8.23 11.80 11.41 7.19

28.59 74.95 9.42 9.08 13.00 13.14 7.67

27.57 72.89 9.11 8.96 11.88 12.62 7.61

+ + + +

0.48 1.11 0.01 0.60 0.98 0.10 0.06

raised its dividend by 50% to 10.5¢ per share for the fourth quarter. The new rate represents a 425% jump from 18 months ago. Shares of SilverCrest Metals fell US12¢ to US$9.69 per share. The company announced plans to spend US$60 million on drilling through to the end of 2022 at its Las Chispas silver-gold project in Mexico’s Sonora state. According to CEO Chris Ritchie during a

webinar, the company plans to publish an 85-95 million oz. reserve feasibility study, with higher-grade ounces from recent drill results moving ahead in the mine plan, pushing lower grade ounces further back. A 2019 PEA outlined an initial mine life of 8.5 years with average production of 5.38 million oz. of silver and 55,700 oz. of gold, or 9.6 million silver-equivalent ounces. TNM

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

NACCO Ind* Eldorado Gold* Intrepid Pots* United States S* Natural Res Pt* Alcoa* Cleveland-Clif* Black Hills* Kinross Gold* Turquoise HIl* Peabody Enrgy* Lithium Amer* Arch Resources* Alamos Gold* McEwen Mng* Suncor Energy* Gold Fields* MartinMarietta* Nexa Resources* Harmony Gold*

NC EGO IPI X NRP AA CLF BKH KGC TRQ BTU LAC ARCH AGI MUX SU GFI MLM NEXA HMY

53 22.63 17583 14.23 361 10.70 37848 9.08 30 12.41 37263 13.14 30964 7.67 1107 58.87 38342 9.42 7566 0.83 11918 2.05 17976 14.40 1355 40.25 11430 9.50 11807 1.17 37268 13.00 19821 13.13 3129 275.11 156 6.32 21601 6.02

U.S. GREATEST VALUE CHANGE VOLUME (000s)

WEEK LOW CLOSE CHANGE

19.14 22.26 12.14 13.53 9.37 10.49 8.23 8.96 11.59 12.31 11.41 12.62 7.19 7.61 56.82 58.14 8.77 9.11 0.77 0.78 1.60 1.65 11.92 12.00 36.00 37.02 8.50 8.53 1.06 1.08 11.80 11.88 12.33 12.41 254.19 258.97 5.62 5.64 5.62 5.66

+ 10.9 + 9.0 + 7.9 + 7.2 + 4.8 + 0.8 + 0.8 + 0.6 + 0.1 + 0.1 - 19.1 - 16.9 - 8.1 - 8.0 - 7.7 - 7.6 - 5.8 - 5.2 - 5.1 - 5.0

NACCO Ind* NC Eldorado Gold* EGO Intrepid Pots* IPI United States S* X Natural Res Pt* NRP Black Hills* BKH Alcoa* AA Cleveland-Clif* CLF Kinross Gold* KGC Turquoise HIl* TRQ MartinMarietta* MLM Arch Resources* ARCH Lithium Amer* LAC Rio Tinto* RIO Agnico Eagle* AEM Kirkland Lake* KL AngloGold Ash* AU Wheaton Prec M* WPM Franco-Nevada* FNV Chevron Corp* CVX

53 17583 361 37848 30 1107 37263 30964 38342 7566 3129 1355 17976 7717 3079 5708 9471 4181 2059 45174

WEEK CLOSE

CHANGE

22.26 13.53 10.49 8.96 12.31 58.14 12.62 7.61 9.11 0.78 258.97 37.02 12.00 60.05 81.31 49.84 26.65 49.86 139.81 72.89

+ 2.19 + 1.12 + 0.77 + 0.60 + 0.56 + 0.35 + 0.10 + 0.06 + 0.01 + 0.00 - 14.13 - 3.25 - 2.44 - 2.04 - 1.38 - 1.33 - 1.29 - 1.17 - 1.16 - 1.11

G LOBAL M I N I N G

N EW S

THE NORTHERN MINER / OCTOBER 26—NOVEMBER 3, 2020

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

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Oct 15 2020 (change from Oct 8, 2020 in brackets): Aluminium Alloy 5780 (0) Aluminium 1407025 (-16050) Copper 168875 (+14305) Lead 130475 (-3225) Nickel 237306 (+1218) Tin 5355 (-20) Zinc 218,825 (+850)

Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$59.50 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$11.75 Cobalt: US$14.97/lb. Copper: US$3.05/lb. Copper: CME Group Futures November 2020: US$3.11/lb.; December 2020: US$3.13/lb Iridium: NY Dealer Mid-mkt US$1,645.00/tr oz. Iron Ore 62% Fe CFR China-S: US$119.40 Lead: US$0.80/lb. Phosphate Rock: US$86.00/tonne Potash: US$226.00/tonne Rhodium: Mid-mkt US$13,800.00 tr. oz. Ruthenium: Mid-mkt US$270.00/tr. oz. Silver: Handy & Harman Base: US$24.61 per oz.; Handy & Harman Fabricated: US$30.76 per oz. Tin: US$8.34/lb. Uranium: U3O8, Trade Tech spot price: US$29.80 per lb. U308 Zinc: US$1.10/lb. Prices current Oct. 20, 2020

TSX SHORT POSITIONS

TSX WARRANTS Warrant to purchase one common share of the Issuer at $0.50 until expiry. Liberty Gold Corp. Wt (LGD.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry may 16, 2019 Lithium Americas Corp (LAC.WT) - One Warrant to purchase one common share of the Issuer at $0.90 until expiry Lydian International Limited (LYD.WT) One Warrant to purchase one additional ordinary share of the Issuer at $0.36 per share until expiry Nevada Copper Corp. (NCU.WT) - One Warrant to purchase one common share of the Issuer at $0.20 until expiry Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21 Northern Dynasty Minerals Ltd. J (NDM. WT.B) - Wt buys sh @ $0.55 to Jun 10/21 Osisko Gold Royalties (OR.WT) - Wt buys

Alio Gold Inc. (ALO.WT) - 10 Warrants to purchase one common share of the Issuer at $7.00 until expiry Alio Gold Inc. J (ALO.WT.A) - One Warrant to purchase one common share of the Issuer at $8.00 until expiry Ascendant Resources (ASND.WT) - Wt buys sh @ $1.25 to Mar 7/22 eColbalt Solutions Inc. J (ECS.WT) - One Warrant to purchase one common share of the Issuer at US$1.95 per share until expiry Excellon Resources Inc (EXN.WT.A) - One warrant to purchase one common share of the Issuer at $2.80 until expiry Excellon Resources Inc. (EXN.WT) - One Warrant to purchase one common share of the issuer at $1.40 per share until expiry Gran Colombia Gold (GCM.WT.B) - One warrant to purchase one common share of the Issuer at $2.21 until expiry. Karora Resources Inc. (KRR.WT) - One

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of Sept. 30, 2020 (with changes from Sept. 15, 2020) Largest short positions Suncor Energy SU 20085409 5822889 9/15/2020 Barrick Gold ABX 18365595 500621 9/15/2020 New Gold NGD 14818603 -1708293 9/15/2020 Nexgen Energy NXE 12771937 -98629 9/15/2020 Kinross Gold K 12614518 -3713974 9/15/2020 Yamana Gold YRI 10637171 -1694339 9/15/2020 First Quantum FM 10205682 1100882 9/15/2020 Premier Gold M PG 10045631 118178 9/15/2020 Wheaton Prec M WPM 9527065 -135020 9/15/2020 Fortuna Silvr FVI 9470955 -3824 9/15/2020 Teck Res TECK.B 9311094 -189910 9/15/2020 Ivanhoe Mines IVN 9215083 -1217342 9/15/2020 Denison Mines DML 8627905 3915539 9/15/2020 Equinox Gold EQX 8419787 672787 9/15/2020 Wallbridge Mng WM 7814393 -320024 9/15/2020 Largest increase in short position Suncor Energy SU 20085409 5822889 9/15/2020 Denison Mines DML 8627905 3915539 9/15/2020 Osisko Mng Inc OSK 5803496 1240044 9/15/2020 Freegold Vent FVL 5365386 1125494 9/15/2020 First Quantum FM 10205682 1100882 9/15/2020 Largest decrease in short position Kinross Gold K 12614518 -3713974 9/15/2020 New Gold NGD 14818603 -1708293 9/15/2020 Yamana Gold YRI 10637171 -1694339 9/15/2020 McEwen Mng MUX 2541395 -1284891 9/15/2020 Capstone Mng CS 1043947 -1252100 9/15/2020

Short positions outstanding as of Sept. 30, 2020 (with changes from Sept. 15, 2020) Largest short positions Contact Gold C 9612618 9304644 9/15/2020 Mako Mining MKO 5505010 -45562 9/15/2020 Novo Res NVO 5326554 111583 9/15/2020 Discovery Met DSV 4455222 -1189849 9/15/2020 Dolly Vard Sil DV 4455128 8881 9/15/2020 AbraPlata Res ABRA 4083296 -1166388 9/15/2020 Manganese X MN 2322180 1406578 9/15/2020 Lion One Mtls LIO 2301971 186258 9/15/2020 IMPACT Silver IPT 2163001 123083 9/15/2020 GR Silver GRSL 1745523 525633 9/15/2020 Oceanus Res SLVR 1612141 252900 9/15/2020 EnCore Energy EU 1545282 996977 9/15/2020 Great Bear Res GBR 1496100 -26955 9/15/2020 Aurcana Silver AUN 1487155 551338 9/15/2020 Noram Vent NRM 1397381 1235329 9/15/2020 Largest increase in short position Contact Gold C 9612618 9304644 9/15/2020 Manganese X MN 2322180 1406578 9/15/2020 Freeport Res FRI 1284313 1251137 9/15/2020 Noram Vent NRM 1397381 1235329 9/15/2020 EnCore Energy EU 1545282 996977 9/15/2020 Largest decrease in short position Conic Metals NKL 294449 -3876574 9/15/2020 Teslin Rvr Res SIM 17077 -2557929 9/15/2020 Minaurum Gold MGG 73195 -2512654 9/15/2020 Ely Gold Royal ELY 212218 -2249991 9/15/2020 K92 Mining KNT 983328 -2061376 9/15/2020

sh @ $36.5 to Feb 18/22 Platinum Group Metals Ltd. (PTM.WT.U) One Warrant to purchase one common share of the Issuer at US$0.17 until expiry Royal Nickel Corporation (RNX.WT) - One Warrant to purchase one common share of the Issuer at $0.50 until expiry. Sandstorm Gold (SSL.WT.B) - One Warrant to purchase one common share of the Issuer at US $14.00 until expiry. Sherritt International Corporation (S.WT) Each whole Warrant entitles the holder to acquire between 1.00 and 1.25 additional common shares (as bulletin 2018-0062 table ) determined based on the Applicable Reference Cobalt Price at an exercise price of $1.95 per Warrant at any time prior to the Expiry Date Sprott Resource Corp (SRHI.WT) - Wt buys sh @ $0.3333 to Feb 09/22

TSX VENTURE WARRANTS ABE Resources Inc. (ABE.WT) - One warrant to purchase one common share at $0.15 per share. American Cumo Mining Corp. (MLY.RT) 2 rights and $0.07 are required to purchase one share Antioquia Gold Inc. (AGD.RT) - One (1) Right and $0.042 are required to purchase one share. Aurania Resources Ltd. (ARU.RT) - Fourteen (14) Rights exercisable for one common share at $2.70 per common share. Avidian Gold Corp. (AVG.RT) - Three rights and $0.11 are required to purchase one Share. Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.50 per share. Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.30 per share. Caldas Gold Corp. (CGC.WT) - One warrant to purchase one common share at $2.75 per share. Cordoba Minerals Corp (CDB.WT) - One warrant to purchase one common share at $1.08 per share. Cordoba Minerals Corp (CDB.WT) - One warrant to purchase one common share at $1.08 per share. Cordoba Minerals Corp. (CDB.RT) - One (1) Right exercisable for One (1) Rights Share at $0.05 per Share.

Equinox Gold Corp (EQX.WT) - One warrant to purchase one common share at $3.00 per share. Eros Resources Corp. (ERC.WT) - One (1) Right exercisable for (1) Unit at $0.05 per Unit. Falco Resources Ltd. (FPC.WT) - One warrant to purchase one common share at $1.70 per share. Firefox Gold Corp. (FFOX.WT) - One warrant to purchase one common share at $0.60 per share. Firefox Gold Corp. (FFOX.WT) - One warrant to purchase one common share at $3.00 per share. Goldstar Minerals (GDM.RT) - One Right to purchase one common share at $0.03 per share. Goldstar Minerals Inc. (GDM.RT) - One (1) Right and $0.05 are required to purchase one common share. JDL Gold Corp. (JDL.WT) - Wt buy sh @ $3.00 to Oct 06/21 Kootenay Silver Inc. (KTN.WT) - Wt buys sh @ $0.55 to Apr 21/21 LaSalle Exploration Corp. (LSX.WT) - One warrant to purchase one common share at $0.15 per share. LSC Lithium Corporation (LSC.RT) - One (1) right exercisable for One (1) Unit at $0.40 per Unit. Mako Mining Corp. (MKO.RT) - Rights exercisable for One (1) share at $0.10 per

share. Maple Gold Mines Ltd. (MGM.WT) - One warrant to purchase one common share at $0.40 per share Maple Gold Mines Ltd. (MGM.WT) - One warrant to purchase one common share at $0.40 per share Mexican Gold Corp. (MEX.WT) - One warrant to purchase one common share at $0.12 per share. Millennial Lithium Corp. (ML.WT) - One warrant to purchase one common share at $4.25 per share. Orezone Gold Corporation (ORE.WT) One warrant to purchase one common share at $0.80 per share. Sandfire Resources America Inc. (SFR.RT) Eight (8) Rights exercisable for One (1) share at $0.06 per unit. Tintina Resources Inc. (TAU.RT) - Nine(9) Rights exercisable for one share at $0.06 per share. Trek Mining (TREK.WT) - Wt buy sh @ $3.00 to Oct 06/21 Ucore Rare Metals Inc. (UCU.RT) - One (1) right exercisable for one share at $4.00 per share. Vision Lithium Inc. (VLI.WT) - One warrant to purchase one common share at $0.15 per share. Yellowhead Mining Inc. (YMI.RT) - One (1) Right and $0.12 are required to prchase one Share

DAILY METAL PRICES Date Oct 16 Oct 15 Oct 14 Oct 13 BASE METALS (London Metal Exchange – Midday official cash/3-month prices, US$ per tonne) Al Alloy 1520/1580 1536/1560 1480/1545 1470/1530 Aluminum 1865.50/1863.50 1824/1839.50 1836/1853.50 1841/1854 Copper 6728/6740.50 6683.50/6698 6702/6715.50 6699.50/6705.50 Lead 1756.50/1773 1754.50/1772 1771.50/1789.50 1826.50/1837.50 Nickel 15603/15651 15353/15400 15105/15152 15147/15199 Tin 18390/18400 18343/18360 18225/18285 18320/18315 Zinc 2417/2434.50 2397/2413.50 2398/2416.50 2428/2446.50 PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.) Gold AM 1908.20 1891.70 1896.45 Gold PM 1905.50 1891.90 1910.05 Silver 24.36 23.94 24.18 Platinum 870.00 846.00 873.00 Palladium 2331.00 2358.00

1490.50/1516.50 1829.50/1847 6769/6770.50 1823.50/1829 15217/15257 18275/18310 2438.50/2456

1920.80 1891.30 24.94 869.00 2330.00

1919.80 1925.50 25.06 885.00 2437.00

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

Oct 16 1.3229 0.7559

Oct 15 1.3229 0.7559

Oct 14 1.3152 0.7604

Oct 13 1.3141 0.7610

Exchange rates (Quote Media, October 16, 2020) C$ to AUS C$ to EURO C$ to YEN 1.0666 0.6457 79.6460 C$ to UK Pound C$ to China Yuan C$ to India Rupee 0.5860 5.0844 55.5198 US to AUS US to EURO US to YEN 1.4110 0.8542 105.3605 US to UK Pound US to China Yuan US to India Rupee 0.7752 6.7254 73.5850

Oct 12 1.3112 0.7627

C$ to Mex Peso 16.0926 C$ to Swiss Franc 0.6914 US to Mex Peso 21.2874 US to Swiss Franc 0.9147

NEW 52-WEEK HIGHS AND LOWS OCT. 12 – OCT. 16, 2020

Oct 12

C$ to SA Rand 12.5841 C$ to S. Korea Won 865.8958 US to SA Rand 16.6474 US to S. Korea Won 1145.1700

156 New Highs Alien Metals* Alliance Mng Altiplano Met* Ares Strategic Ares Strategic* Baroyeca Gold Baroyeca Gold* Bearing Lith* Belo Sun Mng Belo Sun Mng* Black Dragon* Blue Moon Zinc Blue Moon Zinc* BMEX Gold BMEX Gold* Britannia Mng* Bullfrog Gold Bullfrog Gold* Calibre Mng* Canada Coal Capitan Mining* Capstone Mng Central Afric Cerro Mng Chalice Gold M* Chilean Metals Clarity Gold Clarity Gold* Colonial Coal

Commander Res Commander Res* Commerce Res* Conquest Res Cornerstone Ca* Critical Elem* Crown Mining Defiance Silvr Defiance Silvr* Eldorado Gold Eldorado Gold* Elysee Dev Elysee Dev * Equitorial Ex* Equity Metals* Eskay Mng Eskay Mng* Excellon Res* Explorex Res Explorex Res* Finlay Minrls FireFox Gold* Focus Graphite* Four Nines* Gambier Gold Gensource Pot Global Energy Global Energy* GMV Minerals Golden Tag

Golden Valley* Goldrea Res* Goldstar Mnls* Graycliff Exp Greenland M&En* Hanna Capital Hanna Capital* High Point Exp Honey Badger E* Infrastructure* Interconnect InZinc Mining* K2 Gold Kanadario Gold Kingsmen Res Latin American Latin American* Lupaka Gold Lynas Corp* MAG Silver Maple Gold Maple Gold* Marimaca Cop* Maverix Metals Maverix Metals* Maya Gold &Sil* MDN Inc* Mexus Gold* Mineral Res* Mkango Res

Monarca Mnrls Monarca Mnrls* Montego Res* New Found Gold New Milln Iron New Milln Iron* New World Res* Niobay Metals Noranda Alum* Norra Metals Northisle C&G Northisle C&G * Nrthn Vertex Nrthn Vertex* O3 Mining O3 Mining* Oro X Mining Oro X Mining* Oroco Res* Orosur Mng Palladium One Palladium One* Patriot Gold Peloton Mnrls* Pine Cliff En Probe Metals Probe Metals* QcX Gold* QMC Quantum Ml

QMC Quantum Ml* Rhyolite Res Running Fox Rs Running Fox Rs* Rupert Res Sassy Res Sentinel Res Sentinel Res* Sherritt Intl Silver Bull Re* Silver Dollar* Silver Range Silver Range* Silver Sands* Solaris Res Solaris Res* Southern Arc* Starcore Intl Starcore Intl* Straightup Res Surge Copper Surge Copper * Tarachi Gold* Temas Res Temas Res* Till Capital Tisdale Res Titan Mining Titan Mining*

Top Explor Treasury Metal* Troubadour Res U3O8 Corp Vangold Res Victory Metals Warrior Gold* Westgold Res* ZEN Graphene* 19 New Lows Arcturus Vent Atico Mining Bluestone Res* Brazil Min* Capitan Mining* Core Assets Crest Resource* Granite Creek* Lasalle Explor* Lida Resources* Nevada Copper Nighthawk Gold* Peabody Enrgy* Ridgeline Min Sassy Res* Southern Emp Star Diamond Stuhini Explor Voyageur Min

CANADIAN GOLD MUTUAL FUNDS NORTH AMERICAN STOCK EXCHANGE INDICES 52-week

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

Oct 16 16438.75 725.31 982.67 364.79 319.17

Oct 15 16501.03 727.38 986.63 369.86 319.17

Oct 14 16455.40 733.64 983.99 372.59 323.87

Oct 13 16510.83 730.56 987.83 367.47 319.37

Oct 12 16562.81 732.25 990.95 369.21 321.47

High 17970.51 761.84 1070.48 416.84 359.81

Low 11172.73 330.65 683.81 173.42 140.55

FundName Oct 16 ($) BMO Prec Mtls Fd A 31.60 BMO ZGD 87.22 BMO ZJG 84.64 CIBC Prec Metal Fd A Dyn Prec Metls Fd A 14.65 Harvest HGGG Horizons HEP IG MacGbPreMetCl A 17.35 iShares XGD Mac Prec Met Cl A 83.97 NBI PrecMetFd Invt NPT Go&PrMinFd A 64.06 NPT SilverEquCl A 10.62 RBC GblPreMetFd A 68.20 RBC GblPreMetFd Adv 68.68 Sentry Pre Met Fd A TD Prec Mtl Fd Inv 59.97

Oct 09 ($) 31.95 88.86 85.60 17.95 14.73 37.11 38.52 17.62 23.05 85.31 24.00 64.96 10.67 68.85 69.33 61.49 60.81

Change ($) -0.34 -1.64 -0.96 0.70 -0.08 1.18 1.64 -0.27 0.88 -1.34 1.02 -0.90 -0.05 -0.65 -0.66 2.95 -0.84

Change (%) -1.07 -1.84 -1.12 4.06 -0.51 3.28 4.42 -1.53 3.94 -1.57 4.43 -1.38 -0.45 -0.95 -0.95 5.03 -1.38

YTDChange (%) 36.71 34.11 31.45 40.74 53.26 48.55 29.66 48.00 39.85 49.62 40.71 54.99 54.53 47.40 47.38 56.18 38.05

MER (%) 2.41 0.61 0.60 2.43 2.73 0.94 0.83 2.66 0.61 2.52 2.46 3.19 2.98 2.10 2.09 2.32 2.27

TotalAssets (M$) 66.49 236.02 119.84 74.63 693.69 9.17 43.76 85.56 41.93

568.59 3.20 410.84 178.67

GLOBAL MINING NEWS · SINCE 1915

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

LEGEND

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

A C L N O Q T V X *

– – – – – – – – – –

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

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

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

1 (metric) tonne = 1.1023 (short) tons 1 gram per (metric) tonne = 0.02917 troy ounces per (short) ton = 0.03215 troy ounces per (metric) tonne 1 kilometre = 0.6214 miles 1 hectare = 2.47 acres

OCTOBER 2 6 – N OV EM BER 3 , 2 0 2 0

/ TH E N OR TH ER N

(100s) Exc Volume

Week High

Low

Last

12-month Change

High Low

A 1911 Gold* 1911 Gold 79 Resources 79North Abacus Mining* Abacus Mining Abcourt Mines Abcourt Mines* Aben Resources* Aben Resources Abitibi Royal* Abitibi Royal AbraPlata Res* AbraPlata Res Academy Metals* Academy Metals Adamera Min* Adamera Min Adex Mining Advance Gold Adventus Adventus* AEX Gold Affinity Metal* African Gold African Gold* African Min* African Rainb* Aftermath Silv* Agnico Eagle* Agnico Eagle AgriMinco* Aguila Amer Gd AJN Resources Alamos Gold Alamos Gold* Alaska Pac Egy* Alcoa* Aldebaran Res Aldebaran Res* Alderon Iron* Aldever Res Aldever Res* Alexandra Cap* Alexco Res Alexco Res* Alianza Min* Alianza Min Alien Metals* Allegiant Gold* Allegiant Gold Alliance Mng Alliance Res* Almaden Min* Almaden Min Almadex Min* Almadex Min Almonty Ind * Almonty Ind Aloro Mining* Aloro Mining Alpha Lithium Alpha Lithium* Alphamin Res * Alphamin Res Altai Resource Altamira Gold Altamira Gold* Altan Nevada Altan Rio Min Altiplano Met Altiplano Met* Altius Mnrls Altius Mnrls * Alto Ventures Alto Ventures* Altura Mining* Alturas Min Altus Strat Altus Strat* Alumina Ltd* ALX Resources ALX Resources* AM Resources* AM Resources Amani Gold* Amanta Res* Amarc Res* Amarc Res Amarillo Gold Amarillo Gold* Amer Intl Vent* American Creek* American Creek American CuMo* American Lith* American Lith American Mang* American Mang American Pac AmericanSierra* Americas Silvr* Americas Silvr Amerigo Res Amerigo Res* Amex Expl* Amex Expl Amilot Capital Amseco Expl AMV Capital Anaconda Mng* Anaconda Mng Andes Gold* Andover Mng* Anfield Energy Anfield Energy* Angel Gold* Angel Gold Angkor Gold* Angkor Res Anglo American* Anglo American* Anglo Pac Grp AngloGold Ash* AngloGold Ash* Angus Gold* Angus Gold Antioquia Gold* Antioquia Gold Antler Gold * Antler Gold Antofagasta* Apex Res * Apex Res Apollo Gold Apollo Gold* Appia Energy* Appia Energy Applied Min* Aquila Res Aquila Res* Arbor Metals Arch Resources* Arctic Star* Arctic Star Arcturus Vent Arcturus Vent* Arcus Dev Grp* Arcus Dev Grp Arcwest Explor Arcwest Explor* Arena Min* Arena Min Ares Strategic Ares Strategic* Argentina Lith* Argentina Lith Argentum Silvr Argentum Silvr* Argo Gold Argo Gold* Argonaut Gold* Argonaut Gold Arianne Phosph Arianne Phosph* Arizona Metals* Arizona Metals Arizona Silver Arizona Silver* Armor Min Artemis Gold*

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

274 328 225 312 133 78 1615 732 185 725 2 5 3414 8949 3 41 146 510 88 394 129 7 92 19 624 94 5 2 2295 3079 2840 71 60 85 6391 11430 26897 37263 117 104 77 0 0 493 1413 4534 564 816 1099 477 853 2874 1618 3739 514 209 192 20 333 77 175 1879 3888 513 1037 216 2443 402 101 252 663 7 273 99 390 1 132 447 10 1 145 533 99 50 80 659 0 11 202 2455 359 24 699 2202 238 3530 2133 701 763 1286 39 3610 2572 453 167 232 526 5 250 1 400 951 215 5 1509 409 4 437 94 454 3 483 7 0 9471 12 4 47 256 9 68 4 25 43 416 3 423 767 20 395 467 123 1355 213 119 4312 587 50 44 301 20 5 264 3257 2323 1 74 402 0 457 214 453 5412 512 126 15 555 349 124 6 80

0.57 0.49 0.51 0.73 0.64 0.66 0.11 0.11 0.11 unch 0.15 0.13 0.13 0.16 0.13 0.14 0.20 0.00 0.18 0.24 0.22 0.23 unch 0.18 0.16 0.17 unch 0.07 0.06 0.07 0.10 0.08 0.09 unch 19.35 0.00 19.00 + 25.50 24.35 25.15 + 0.30 0.25 0.28 + 0.39 0.29 0.36 + 0.09 0.09 0.09 unch 0.10 0.10 0.10 0.08 0.06 0.06 0.09 0.08 0.08 unch 0.01 0.00 0.01 unch 0.14 0.13 0.13 unch 1.04 0.95 0.95 0.00 0.74 0.78 0.89 0.80 0.85 + 0.22 0.20 0.20 0.23 0.21 0.22 0.17 0.15 0.15 0.00 0.00 0.00 12.05 12.05 12.05 unch 0.80 0.64 0.69 + 85.46 80.94 81.31 112.25 104.65 107.34 0.00 0.00 0.00 0.38 0.34 0.34 unch 0.29 0.22 0.29 + 12.20 11.21 11.25 9.50 8.50 8.53 0.00 0.00 0.00 unch 13.14 11.41 12.62 + 0.43 0.36 0.40 0.33 0.29 0.29 0.03 0.02 0.03 + 0.00 0.00 0.13 unch 0.00 0.10 unch 0.00 0.21 0.18 0.19 3.80 3.32 3.55 2.91 2.67 2.70 0.14 0.10 0.11 + 0.15 0.13 0.14 unch 0.03 0.01 0.02 + 0.35 0.29 0.30 0.45 0.38 0.41 0.36 0.01 0.36 2.85 2.66 2.68 1.03 0.76 0.97 + 1.35 1.03 1.26 + 0.26 0.21 0.23 + 0.35 0.00 0.32 + 0.57 0.46 0.54 0.77 0.70 0.70 0.06 0.05 0.06 + 0.08 0.06 0.08 + 0.85 0.58 0.67 0.61 0.44 0.50 0.20 0.18 0.18 0.26 0.23 0.23 0.09 0.08 0.09 0.25 0.20 0.20 0.19 0.15 0.15 0.02 0.02 0.02 + 0.11 0.00 0.11 + 0.25 0.22 0.24 + 0.18 0.10 0.18 + 11.55 10.12 11.33 + 8.78 7.51 8.55 + 0.15 0.14 0.15 + 0.11 0.00 0.11 + 0.11 0.06 0.09 + 0.02 0.01 0.01 unch 0.99 0.97 0.99 + 0.86 0.72 0.73 4.18 3.95 4.07 + 0.08 0.07 0.07 0.06 0.05 0.05 0.02 0.02 0.02 unch + 0.04 0.04 0.04 0.00 0.00 0.00 0.00 0.00 0.00 unch 0.06 0.04 0.05 0.07 0.06 0.07 + 0.37 0.34 0.36 + 0.28 0.26 0.27 + 0.01 0.01 0.01 + 0.25 0.22 0.24 + 0.32 0.29 0.32 + 0.05 0.04 0.04 1.14 0.88 0.95 1.40 1.16 1.25 0.17 0.15 0.16 0.22 0.20 0.20 0.25 0.19 0.23 + 0.02 0.00 0.02 2.94 2.62 2.79 3.86 3.40 3.65 + 0.58 0.53 0.54 0.44 0.40 0.42 2.25 2.12 2.17 + 2.95 2.66 2.85 + 0.05 0.05 0.05 unch 0.05 0.05 0.05 unch 0.15 0.15 0.15 unch 0.51 0.36 0.41 0.58 0.47 0.52 0.01 0.01 0.01 unch 0.00 0.00 0.00 unch 0.05 0.05 0.05 unch 0.04 0.03 0.03 0.03 0.00 0.03 unch 0.03 0.03 0.03 0.07 0.05 0.05 0.08 0.07 0.08 25.39 25.10 25.32 + 12.72 12.27 12.62 2.41 0.00 2.00 27.71 0.00 27.71 unch 28.48 26.64 26.65 0.89 0.61 0.61 1.29 1.00 1.00 0.05 0.04 0.04 + 0.06 0.05 0.05 unch 0.24 0.20 0.20 0.32 0.00 0.32 + 13.35 13.20 13.20 + 0.08 0.00 0.08 unch 0.14 0.13 0.13 0.82 0.75 0.78 0.62 0.59 0.59 0.29 0.26 0.27 0.37 0.35 0.35 0.01 0.01 0.01 0.16 0.14 0.14 0.13 0.10 0.10 1.84 1.63 1.78 40.25 36.00 37.02 0.04 0.04 0.04 unch 0.05 0.05 0.05 + 0.07 0.05 0.05 0.08 0.03 0.04 0.01 0.01 0.01 unch 0.03 0.02 0.03 + 0.13 0.11 0.12 unch 0.09 0.08 0.09 + 0.02 0.01 0.01 0.03 0.02 0.03 + 0.33 0.26 0.27 0.26 0.20 0.21 0.08 0.00 0.08 + 0.10 0.00 0.10 + 0.22 0.20 0.22 unch 0.00 0.00 0.20 unch 0.22 0.16 0.17 0.17 0.16 0.16 + 2.15 1.95 2.04 2.83 2.60 2.70 0.19 0.16 0.17 unch 0.15 0.12 0.13 0.50 0.50 0.50 unch 0.68 0.60 0.62 0.35 0.31 0.34 + 0.28 0.22 0.24 0.72 0.00 0.61 unch 5.05 4.45 4.56 +

W . N OR TH ER N M I N ER . COM

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: OCTOBER 12–16, 2020

Stock

M I N ER

0.03 1.22 0.15 0.04 0.98 0.22 0.00 0.15 0.10 0.02 0.25 0.13 0.00 0.01 0.29 0.05 0.00 0.24 0.04 0.00 0.18 0.03 0.00 0.12 0.03 0.00 0.16 0.05 0.08 19.90 7.68 0.80 26.50 11.10 0.03 0.36 0.03 0.03 0.48 0.04 0.00 0.14 0.09 0.01 0.22 0.09 0.00 0.12 0.01 0.00 0.16 0.02 0.00 0.01 0.01 0.00 0.29 0.03 0.05 1.60 0.52 0.04 1.18 0.36 0.05 1.20 0.31 0.02 0.37 0.06 0.01 0.46 0.10 0.02 0.34 0.07 0.00 0.01 0.00 0.00 12.15 5.00 0.00 0.83 0.06 1.38 89.23 31.00 1.22 117.35 43.25 0.00 0.00 0.00 0.00 0.50 0.12 0.05 1.34 0.17 0.91 15.52 4.43 0.74 11.58 3.34 0.00 0.00 0.00 0.10 23.47 5.16 0.01 0.74 0.16 0.02 0.52 0.17 0.02 0.17 0.00 0.00 0.22 0.05 0.00 0.16 0.01 0.00 0.54 0.06 0.05 4.65 1.00 0.05 3.50 0.72 0.01 0.16 0.03 0.00 0.21 0.03 0.01 0.02 0.00 0.05 0.56 0.05 0.03 0.71 0.07 0.02 0.63 0.13 0.10 14.31 2.63 0.12 1.09 0.21 0.16 1.43 0.31 0.01 0.29 0.05 0.02 0.36 0.12 0.03 0.61 0.24 0.05 0.81 0.28 0.01 0.19 0.01 0.01 0.12 0.03 0.08 1.45 0.25 0.07 0.01 0.24 0.09 0.01 0.30 0.12 0.01 0.14 0.03 0.03 0.26 0.04 0.02 0.19 0.02 0.01 0.05 0.01 0.02 0.13 0.03 0.02 0.25 0.02 0.03 0.15 0.05 1.16 12.32 6.29 0.82 9.38 4.33 0.01 0.24 0.08 0.00 0.18 0.04 0.02 0.12 0.01 0.00 0.02 0.01 0.02 1.36 0.33 0.12 21.22 0.35 0.04 6.75 3.09 0.01 0.10 0.02 0.01 0.07 0.01 0.00 0.03 0.02 0.01 0.10 0.03 0.00 0.05 0.00 0.00 0.00 0.00 0.01 0.07 0.02 0.01 0.08 0.02 0.02 0.42 0.10 0.01 0.31 0.08 0.00 0.02 0.00 0.01 0.38 0.02 0.02 0.50 0.04 0.00 0.09 0.00 0.10 2.19 0.06 0.13 2.98 0.09 0.02 0.21 0.07 0.02 0.28 0.10 0.03 0.62 0.06 0.00 0.05 0.01 0.01 3.90 1.00 0.02 5.12 1.39 0.02 0.80 0.12 0.01 0.61 0.08 2.98 0.64 0.02 0.03 3.98 0.86 0.00 0.06 0.01 0.00 0.08 0.02 0.00 0.20 0.07 0.01 0.59 0.07 0.02 0.78 0.10 0.00 0.00 0.00 0.00 0.00 0.16 0.04 0.00 0.12 0.03 0.00 0.05 0.00 0.01 0.07 0.01 0.01 0.09 0.02 0.01 0.11 0.01 0.22 29.51 12.56 0.06 14.81 5.91 0.41 4.20 1.87 0.00 38.94 15.44 1.29 38.50 12.66 0.28 1.16 0.53 0.18 1.51 0.14 0.00 0.07 0.01 0.00 0.09 0.02 0.04 0.38 0.01 0.01 0.49 0.02 0.02 15.00 7.30 0.00 0.31 0.04 0.01 0.43 0.04 0.03 1.68 0.04 0.02 0.91 0.39 0.01 0.43 0.07 0.02 0.57 0.10 0.00 0.03 0.00 0.02 0.22 0.07 0.02 0.15 0.05 0.01 1.91 0.03 3.25 89.42 21.80 0.00 0.10 0.01 0.01 0.12 0.02 0.02 0.97 0.05 0.02 0.69 0.00 0.00 0.03 0.01 0.01 0.04 0.01 0.00 0.21 0.04 0.00 0.15 0.02 0.01 0.05 0.01 0.01 0.06 0.02 0.03 0.33 0.07 0.01 0.26 0.01 0.01 0.09 0.02 0.01 0.10 0.04 0.00 0.35 0.14 0.00 0.23 0.11 0.04 0.35 0.04 0.00 0.24 0.06 0.04 2.63 0.53 0.04 3.42 0.76 0.00 0.41 0.15 0.01 0.00 0.73 0.50 0.05 1.04 0.17 0.01 0.40 0.10 0.02 0.31 0.08 0.00 0.97 0.31 0.15 5.63 0.60

(100s) Stock

Exc Volume

Week Low

5.63 6.09 + 0.07 0.07 + 0.00 0.10 + 0.07 0.07 0.09 0.10 + 1.13 1.16 0.85 0.85 0.00 0.04 0.00 0.03 0.18 0.25 unch 0.05 0.05 unch 0.03 0.04 0.04 0.05 0.24 0.27 + 0.19 0.20 0.01 0.01 + 0.00 3.00 + 0.00 0.10 + 0.00 0.12 0.05 0.06 0.34 0.40 + 0.00 0.52 + 0.00 0.07 unch 0.22 0.22 unch 0.00 0.28 0.00 10.05 + 12.46 13.00 3.20 3.44 + 4.30 4.55 + 0.81 0.92 + 0.66 0.70 + 0.00 0.05 unch 0.04 0.04 + 0.08 0.09 + 0.07 0.08 + 0.90 0.97 1.25 1.27 0.05 0.04 unch 0.04 0.05 0.17 0.22 0.01 0.01 0.09 0.09 unch 0.15 0.20 0.22 0.24 + 0.34 0.34 0.25 0.26 0.16 0.17 + 0.06 0.06 0.07 0.08 unch 0.00 0.05 + 0.01 0.01 unch 0.17 0.17 unch 0.24 0.24 1.03 1.05 1.32 1.39 + 0.00 0.04 + 0.00 0.03 + 0.14 0.16 + 0.00 0.10 0.00 0.07 unch 0.06 0.06 0.00 0.05 + 0.11 0.13 0.17 0.17 1.06 1.08 0.80 0.83 0.02 0.02 + 0.02 0.03 unch 0.32 0.33 0.24 0.26 0.00 0.00 0.19 0.19 unch 0.14 0.14 +

Artemis Gold Asante Gold* Asante Gold Ascendant Res* Ascendant Res Ascot Res Ascot Res * Ashanti Sanko Ashanti Sanko* AsiaBaseMetals Asiamet Res* Aston Bay* Aston Bay ATAC Res ATAC Res* Atacama Res* Atalaya Mining Athabasca Min* Athabasca Min Athena Silver* Atico Mining* Atico Mining Atlanta Gold* Aton Resources* Aton Resources Aura Minerals* Aura Minerals Aurania Res* Aurania Res Aurcana Silver Aurcana Silver* AurCrest Gold AurCrest Gold* Aurelius Min Aurelius Min* Aurion Res * Aurion Res Aurora Royal Aurwest Res AURYN Mining* Aust Mines* Austin Res Austral Gold* Austral Gold AUX Resources AUX Resources* Auxico Res Avalon Advance* Avalon Advance Avarone Metals* Avenira Ltd* Avidian Gold* Avidian Gold Avino Silver* Avino Silver Avrupa Min Avrupa Min* Awale Res Axmin Inc Axmin Inc* Azarga Metals Azarga Metals* Azarga Uranium* Azarga Uranium Azimut Explor Azimut Explor* Azincourt Ener* Azincourt Ener Aztec Minerals Aztec Minerals* Azteca Gold* Azucar Min Azucar Min*

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

236 40 126 13 534 320 173 6 4 24 225 765 5955 789 548 4876 0 1 150 7 98 386 1 10 44 3 55 60 231 2566 1786 507 47 1289 364 243 190 670 215 19 296 8 42 255 56 11 1062 1149 1718 48 1724 5 463 3761 442 499 333 240 254 0 172 1 287 240 710 90 30 2177 980 290 116 100 278

6.22 0.07 0.10 0.08 0.10 1.19 0.95 0.05 0.03 0.29 0.05 0.06 0.06 0.27 0.24 0.01 3.00 0.10 0.13 0.06 0.40 0.53 0.07 0.22 0.32 10.05 14.01 3.82 4.59 0.96 0.75 0.06 0.04 0.10 0.10 1.09 1.40 0.05 0.06 0.29 0.01 0.10 0.34 0.24 0.36 0.26 0.18 0.07 0.09 0.05 0.01 0.17 0.27 1.13 1.48 0.04 0.03 0.16 0.11 0.00 0.07 0.05 0.14 0.19 1.19 0.88 0.02 0.03 0.39 0.33 0.00 0.20 0.16

B2Gold Corp B2Gold Corp* Balto Res Bam Bam Res Bam Bam Res* Bannerman Res* Banyan Gold Banyan Gold* Barksdale Res* Barksdale Res Barolo Venture Baroyeca Gold* Baroyeca Gold Barrick Gold* Barrick Gold Barsele Min* Barsele Min Baselode Egy Baselode Egy* Batero Gold Batero Gold* Battle North* Battle North Bayhorse Silvr* Bayhorse Silvr BC Moly BCM Res Bear Creek Mng Bear Creek Mng* Bearing Lith* Bearing Lith Beauce Gold Bell Copper Bell Copper* Belmont Res Belo Sun Mng Belo Sun Mng* BeMetals * BeMetals Benchmark Met* Benchmark Met Benton Res Benton Res* Benz Mining Benz Mining* Bessor Min Bessor Min* Bird River Res Bitterroot Res* Bitterroot Res Black Dragon* Black Hills* Black Iron* Black Iron Black Mammoth* Black Mammoth Black Tusk Res* Black Tusk Res Blackheath Res Blackrock Gold* Blackrock Gold Blind Creek BLOX Inc* Blue Lagoon Blue Lagoon* Blue Moon Zinc Blue Moon Zinc* Blue River Res Blue River Res* Blue Sky Uran* Blue Sky Uran Blue Star Gold* Blue Star Gold Blue Thunder BlueBird Batt Bluestone Res Bluestone Res* BMEX Gold BMEX Gold* Bold Ventures Bonanza Gold* Bond Resources BonTerra Res Boreal Metals Boreal Metals * Borneo Res Inv* Boundary Gold* Boundary Gold Bravada Gold* Bravada Gold Braveheart Res* Braveheart Res Bravo Multinat* Brazil Min* Brigadier Gold* Brigadier Gold BrightRock*

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

16717 23493 57 39 11 985 892 397 135 225 0 11 124 52620 17356 9 62 258 119 377 50 40 1065 131 1234 4 87 719 147 300 328 85 291 68 954 2368 3438 22 236 80 1351 245 104 928 15 30 1 2013 336 1153 12 1107 50 1052 33 217 200 3609 2 1494 3926 344 2841 971 1003 2567 620 254 709 187 341 5 249 537 627 399 51 1057 13 210 3680 162 424 258 143 6760 26 103 201 458 355 663 31 44888 180 1535 321

9.42 7.14 0.10 0.67 0.53 0.03 0.33 0.27 0.39 0.50 0.00 0.17 0.22 28.59 37.55 0.45 0.60 0.50 0.38 0.13 0.10 1.45 1.94 0.13 0.15 0.04 0.08 3.48 2.68 0.21 0.23 0.18 0.22 0.15 0.06 1.43 1.10 0.32 0.45 0.92 1.20 0.21 0.16 0.92 0.66 0.08 0.04 0.01 0.05 0.07 0.07 58.87 0.11 0.13 0.06 0.08 0.07 0.08 0.18 0.84 0.99 0.17 0.01 0.96 0.80 0.06 0.05 0.01 0.01 0.10 0.13 0.08 0.11 0.12 0.30 2.03 1.54 1.05 0.39 0.05 0.00 0.23 1.17 0.11 0.08 0.00 0.04 0.04 0.13 0.16 0.10 0.09 0.11 0.00 0.24 0.32 0.02

Last

12-month

High

Change 0.27 0.00 0.01 0.00 0.01 0.02 0.05 0.01 0.01 0.00 0.00 0.00 0.01 0.01 0.00 0.00 0.35 0.00 0.01 0.01 0.03 0.03 0.00 0.00 0.04 0.47 0.14 0.11 0.21 0.06 0.04 0.00 0.00 0.01 0.01 0.01 0.03 0.00 0.01 0.01 0.00 0.00 0.02 0.01 0.01 0.02 0.01 0.00 0.00 0.02 0.00 0.00 0.03 0.02 0.01 0.01 0.00 0.01 0.01 0.00 0.01 0.00 0.01 0.02 0.08 0.05 0.00 0.00 0.06 0.03 0.00 0.00 0.00

High Low 7.64 0.09 0.12 0.30 0.41 1.40 1.06 0.10 0.05 0.64 0.05 0.09 0.13 0.40 0.30 0.03 3.85

0.95 0.02 0.02 0.06 0.08 0.37 0.26 0.01 0.01 0.18 0.02 0.03 0.04 0.11 0.08 0.00 1.79

0.58 0.15 0.50 0.67 0.08 0.40 0.65

0.08 0.01 0.11 0.16 0.00 0.10 0.20

18.30 4.31 5.75 1.05 0.81 0.07 0.04 0.14 0.10 1.72 2.14 0.08 0.10

1.26 1.03 1.51 0.15 0.11 0.02 0.01 0.02 0.04 0.29 0.42 0.02 0.01

0.02 0.13 0.69 0.38 0.56 0.39 0.20 0.08 0.10 0.08 0.01 0.35 0.48 1.49 2.04 0.05 0.04 0.26 0.50 0.33 0.20 0.10 0.20 0.25 3.27 2.35 0.05 0.06 0.70 0.53 0.00 0.27 0.20

0.00 0.04 0.02 0.06 0.00 0.25 0.02 0.02 0.03 0.02 0.00 0.17 0.05 0.26 0.27 0.01 0.01 0.04 0.10 0.07 0.05 0.03 0.05 0.07 0.31 0.23 0.01 0.02 0.04 0.03 0.00 0.08 0.05

9.99 7.55 0.19 1.60 1.03 0.04 0.39 0.90 0.44 0.60 0.33 0.17 0.22 31.22 41.09 0.48 0.66 0.80 0.52 0.13 0.10 1.69 2.25 0.17 0.24 0.06 0.08 4.17 3.04 0.21 0.25 0.22 0.25 0.18 0.10 1.33 0.89 0.42 0.57 1.22 1.64 0.30 0.22 0.92 0.68 0.10 0.04 0.02 0.07 0.09 0.07 87.12 0.15 0.20 0.11 0.17 0.08 0.10 0.22 1.22 1.61 0.27 0.30 2.11 1.45 0.06 0.03 0.02 0.01 0.17 0.23 0.12 0.16 0.20 0.40 2.43 1.84 1.05 0.22 0.08 0.01 0.43 2.36 0.14 0.13 0.00 0.08 0.08 0.19 0.25 0.13 0.17 0.55 0.00 0.45 0.62 0.04

3.12 2.16 0.03 0.25 0.19 0.01 0.03 0.02 0.14 0.21 0.18 0.08 0.03 12.65 17.52 0.07 0.11 0.07 0.33 0.05 0.03 0.37 0.54 0.03 0.05 0.03 0.02 0.75 0.50 0.06 0.06 0.06 0.01 0.02 0.02 0.21 0.18 0.09 0.12 0.12 0.17 0.04 0.03 0.05 0.05 0.03 0.02 0.01 0.01 0.02 0.00 48.07 0.03 0.05 0.02 0.04 0.02 0.03 0.05 0.05 0.07 0.02 0.00 0.43 0.27 0.01 0.00 0.01 0.00 0.03 0.05 0.04 0.04 0.06 0.08 0.99 0.75 0.08 0.16 0.03 0.00 0.15 0.63 0.03 0.03 0.00 0.00 0.01 0.03 0.05 0.03 0.05 0.05 0.00 0.07 0.05 0.00

B 8.71 9.08 6.63 6.87 0.09 0.09 unch 0.62 0.65 0.52 0.53 + 0.02 0.03 + 0.28 0.31 + 0.20 0.24 + 0.00 0.36 + 0.47 0.47 0.00 0.27 unch 0.17 0.17 + 0.17 0.22 + 27.18 27.57 35.70 36.34 0.43 0.45 unch 0.53 0.60 + 0.44 0.44 0.35 0.37 + 0.11 0.12 + 0.09 0.10 unch 1.30 1.36 1.65 1.79 0.09 0.11 + 0.13 0.13 0.00 0.04 unch 0.07 0.07 + 3.16 3.22 2.46 2.46 0.13 0.13 0.17 0.18 0.00 0.18 + 0.17 0.19 0.12 0.14 0.05 0.06 unch 1.02 1.36 + 0.79 1.03 + 0.00 0.31 unch 0.40 0.43 + 0.83 0.86 1.10 1.13 0.17 0.19 0.12 0.14 + 0.76 0.76 0.00 0.57 0.07 0.08 unch 0.04 0.04 unch 0.01 0.01 unch 0.05 0.05 + 0.00 0.07 + 0.07 0.07 + 56.82 58.14 + 0.09 0.10 + 0.12 0.12 0.06 0.06 unch 0.00 0.07 unch 0.05 0.05 0.06 0.07 unch 0.18 0.18 unch 0.63 0.68 0.84 0.90 0.11 0.13 0.00 0.00 + 0.69 0.96 + 0.56 0.73 + 0.03 0.05 + 0.02 0.04 + 0.01 0.01 unch 0.00 0.00 unch 0.08 0.10 0.12 0.12 0.08 0.08 unch 0.10 0.10 unch 0.10 0.10 0.26 0.27 1.89 1.94 0.00 1.47 0.50 0.88 + 0.39 0.39 unch 0.04 0.05 unch 0.00 0.00 0.20 0.22 + 1.05 1.05 0.09 0.09 0.07 0.07 0.00 0.00 unch 0.03 0.04 + 0.00 0.04 + 0.07 0.12 0.15 0.15 0.05 0.07 + 0.07 0.09 + 0.08 0.08 0.00 0.00 0.20 0.22 + 0.27 0.29 unch 0.00 0.02 +

0.02 0.07 0.00 0.01 0.01 0.00 0.01 0.01 0.01 0.02 0.00 0.02 0.04 0.48 0.47 0.00 0.05 0.04 0.01 0.01 0.00 0.02 0.07 0.01 0.01 0.00 0.01 0.16 0.13 0.02 0.03 0.01 0.02 0.00 0.00 0.31 0.22 0.00 0.02 0.05 0.07 0.02 0.01 0.09 0.09 0.00 0.00 0.00 0.00 0.01 0.03 0.35 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.05 0.04 0.02 0.00 0.23 0.17 0.01 0.01 0.00 0.00 0.00 0.01 0.00 0.00 0.01 0.01 0.06 0.08 0.37 0.00 0.00 0.00 0.02 0.07 0.01 0.01 0.00 0.01 0.01 0.01 0.01 0.02 0.02 0.03 0.00 0.01 0.00 0.00

(100s) Stock

Exc Volume

Week Low

0.01 0.01 + 0.32 0.39 + 0.23 0.29 + 0.18 0.18 0.02 0.03 unch 0.16 0.16 0.19 0.20 12.02 12.32 0.01 0.01 unch 0.19 0.25 + 0.28 0.33 + 0.43 0.46 0.15 0.24 + 0.04 0.04 unch

Britannia Mng* Brixton Metals Brixton Metals* Brunswick Expl Bryn Res* BTU Metals* BTU Metals Buenaventura* Buffalo Coal Bullfrog Gold* Bullfrog Gold Bunker Hill Bushveld Min* BWR Explor

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

8605 1704 766 355 143 135 1771 2740 17 2336 3529 1013 62 237

0.03 0.41 0.31 0.21 0.03 0.18 0.23 12.67 0.01 0.27 0.36 0.57 0.24 0.04

C3 Metals* C3 Metals Cabral Gold* Cabral Gold Cache Explor Cache Explor* Cadillac Vent* Cadillac Vent Caelan Capital* Caldas Gold* Caldas Gold Caledonia Mng* Calibre Mng Calibre Mng* California Gld* California Gld Callinex Mines* Callinex Mines Cameco Corp* Cameco Corp Cameo Cobalt* Camino Min Camino Min* Camrova Res* Canada Carbon Canada Carbon* Canada Coal Canada Nickel Canada Nickel* Canada One Canada One* Canada Rare Canada Rare* Canada Silver* Canada Silver Canadian Metal Canadian Prem Canadian Silv CanAlaska Uran* CanAlaska Uran Canamex Gold* Canarc Res Canarc Res* Canasil Res Candelaria Mg* Candelaria Mg Candente Coppr Candente Gold* Candente Gold CANEX Metals * CANEX Metals CaNickel Mng CaNickel Mng* Canoe Mng Vent Canstar Res* Canstar Res Canterra Mnls* Canterra Mnls Cantex Mn Dev* Cantex Mn Dev Canuc Res Canuc Res* Capitan Mining* Capitan Mining Capstone Mng Cardero Res Cardero Res* Cardinal Res* Cardinal Res Cariboo Rose Carlin Gold Carlyle Comm* Carrara Explor Cartier Iron Cartier Res Cartier Res* Casa Minerals Casa Minerals * Cascadero Copp Cassiar Gold Castle Peak Mg CAT Strategic Cdn Goldcamps Cdn Goldcamps* Cdn Palladium* Cdn Palladium CellCube Enrgy* Centamin Centaurus Diam* Centerra Gold Central Afric Central Afric* Central Iron Century Cobalt* Century Global Cerro de Pasc * Cerro de Pasc Cerro Grande* Cerro Grande Cerro Mng* Cerro Mng Ceylon Graph Chakana Copper Chakana Copper* Chalice Gold M* Champion Bear* Champion Bear Champion Iron* Champion Iron Chatham Rock Chatham Rock* Chesapeake Gld* Chesapeake Gld Chevron Corp* Chiboug Ind Mn Chiboug Ind Mn* Chilean Metals Chilean Metals* China Gold Int Clarity Gold Clarity Gold* Class 1 Nickel Clean Air Met Clean Comm* Cleveland-Clif* Cliffmont Res Clifton Mng* CMC Metals CMC Metals* CNRP Mng Cobalt Block* Cobalt Block Coeur Mng* Colibri Res* Colibri Res Colombia Crest Colombia Crest* Colonial Coal Colt Res* Comet Inds Commander Res* Commander Res Commerce Res Commerce Res* Compass Gold* Compass Gold Comstock Mng* Comstock Mtls Comstock Mtls * Condor Gold* Condor Gold Condor Res Condor Res* Confedertn Ml* Confedertn Mls Conic Metals

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

25 454 499 3463 77 4 0 311 0 116 160 237 3066 294 110 52 208 134 7063 3200 9 339 27 4 480 43 392 949 306 35 2 260 104 1218 2609 70 3 355 288 393 16 1967 660 616 6 24 293 22 218 83 642 33 2 192 62 197 0 6 2 355 421 40 57 375 2138 3 6 46 747 52 60 26 3286 120 675 199 192 0 111 806 346 221 86 0 347 1386 849 113 0 5872 148 16 116 49 10 66 387 20 14 0 52 133 1219 1109 56 5 112 5 1204 16 3 89 133 45174 138 0 311 100 142 112 15 62 840 98 30964 8 285 1155 155 1282 40 144 11993 11 100 75 13 844 50 89 509 752 206 92 13 56 1366 40 27 35 30 310 208 21 339 395

0.03 0.06 0.59 0.83 0.16 0.12 0.01 0.03 0.00 1.89 2.46 20.00 2.18 1.64 0.13 0.15 2.34 3.07 9.78 12.83 0.15 0.19 0.14 0.05 0.29 0.23 0.06 1.88 1.50 0.06 0.05 0.07 0.05 0.49 0.63 0.11 0.18 0.09 0.18 0.23 0.05 0.14 0.12 0.15 0.41 0.55 0.10 0.05 0.05 0.21 0.26 0.15 0.10 0.22 0.21 0.28 0.00 0.17 1.03 1.31 0.23 0.17 2.00 0.31 1.59 0.04 0.04 0.72 1.03 0.07 0.05 0.21 0.05 0.09 0.26 0.20 0.13 0.08 0.05 0.80 0.02 0.04 0.28 0.00 0.12 0.15 0.03 2.86 0.00 13.70 0.43 0.33 0.06 0.03 0.15 0.27 0.37 0.00 0.02 0.00 0.45 0.12 0.56 0.49 2.55 0.08 0.13 2.30 3.05 0.07 0.05 4.45 5.90 74.95 0.14 0.00 0.20 0.15 1.60 1.26 0.93 0.75 0.31 0.20 7.67 0.12 0.19 0.15 0.11 0.39 0.06 0.06 8.45 0.06 0.07 0.28 0.19 0.92 0.00 3.20 0.12 0.16 0.28 0.26 0.21 0.27 1.14 0.17 0.14 0.58 0.88 0.27 0.27 1.36 1.85 0.28

Last

12-month

High

Change

Stock

0.00 0.05 0.03 0.02 0.00 0.01 0.03 0.28 0.00 0.04 0.05 0.06 0.07 0.00

0.01 0.57 0.42 0.27 0.07 1.00 0.49 15.83 0.02 0.27 0.36 1.01 0.45 0.06

0.00 0.08 0.05 0.05 0.02 0.00 0.07 5.12 0.01 0.05 0.08 0.10 0.00 0.02

0.00 0.01 0.10 0.14 0.00 0.00 0.00 0.00 0.00 0.12 0.14 0.75 0.27 0.19 0.01 0.02 0.23 0.35 0.47 0.56 0.00 0.01 0.02 0.05 0.02 0.01 0.01 0.00 0.01 0.00 0.00 0.01 0.01 0.03 0.02 0.01 0.00 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.03 0.01 0.01 0.01 0.01 0.02 0.01 0.00 0.00 0.03 0.04 0.00 0.00 0.19 0.12 0.01 0.02 0.02 0.02 0.07 0.01 0.00 0.02 0.00 0.01 0.00 0.01 0.01 0.02 0.01 0.00 0.02 0.00 0.00 0.07 0.00 0.01 0.06 0.00 0.02 0.00 0.00 0.02 0.00 0.62 0.03 0.03 0.00 0.00 0.00 0.01 0.02 0.01 0.00 0.00 0.07 0.00 0.06 0.04 0.00 0.00 0.01 0.00 0.05 0.00 0.00 0.03 0.09 1.11 0.00 0.00 0.01 0.02 0.04 0.05 0.01 0.06 0.02 0.02 0.06 0.00 0.01 0.01 0.01 0.05 0.00 0.01 0.27 0.02 0.00 0.03 0.00 0.08 0.00 0.00 0.02 0.03 0.02 0.02 0.01 0.02 0.04 0.01 0.01 0.07 0.02 0.02 0.00 0.09 0.18 0.01

0.06 0.08 0.70 0.88 0.18 2.08 0.04 0.05 0.36 9.60 3.07 29.39 2.19 1.59 0.39 0.50 3.10 4.15 12.33 16.71 0.25 0.19 0.14 0.10 0.39 0.28 0.06 3.00 2.24 0.06 0.05 0.08 0.06 0.57 0.73 0.32 0.98 0.16 0.21 0.27 0.07 0.18 0.14 0.26 0.45 0.65 0.12 0.08 0.11 0.25 0.33 0.27 0.19 0.30 0.26 0.33 0.16 0.30 3.10 4.09 0.25 0.18 0.36 0.50 1.58 0.07 0.05 0.78 1.04 0.10 0.07 0.33 0.10 0.11 0.33 0.30 0.13 0.09 0.06 1.20 0.03 0.04 0.55 0.35 0.18 0.23 0.08 4.04 0.22 19.59 0.43 0.34 0.25 0.04 0.19 0.41 0.54 0.05 0.06 0.23 0.45 0.20 0.80 0.61 2.55 0.16 0.27 2.46 3.18 0.32 0.18 5.75 7.61 122.94 0.17 0.12 0.20 0.15 1.88 1.26 0.92 0.95 0.47 0.21 9.02 0.13 0.23 0.17 0.12 0.39 0.06 0.08 9.25 0.07 0.10 0.34 0.23 0.92 0.00 3.50 0.11 0.16 0.38 0.26 0.50 0.65 2.12 0.18

0.03 0.01 0.05 0.07 0.04 0.00 0.00 0.01 0.06 1.30 1.30 6.51 0.46 0.00 0.08 0.11 0.22 0.32 5.30 7.69 0.00 0.05 0.03 0.00 0.05 0.03 0.01 0.38 0.67 0.02 0.01 0.03 0.02 0.18 0.25 0.01 0.10 0.06 0.06 0.09 0.00 0.03 0.02 0.05 0.03 0.05 0.02 0.01 0.01 0.06 0.07 0.04 0.04 0.10 0.00 0.02 0.13 0.05 0.33 0.46 0.03 0.03 0.19 0.25 0.33 0.02 0.01 0.15 0.20 0.04 0.01 0.00 0.01 0.03 0.07 0.05 0.02 0.03 0.01 0.23 0.01 0.01 0.10 0.18 0.02 0.06 0.01 1.52 0.03 5.52 0.05 0.02 0.01 0.00 0.05 0.18 0.24 0.00 0.01 0.05 0.07 0.06 0.08 0.05 0.08 0.07 0.09 0.77 0.96 0.06 0.04 1.01 1.40 51.60 0.05 0.07 0.03 0.01 0.45 0.22 0.92 0.50 0.27 0.01 2.63 0.05 0.07 0.03 0.02 0.06 0.02 0.03 1.98 0.03 0.04 0.05 0.05 0.21 0.00 3.00 0.04 0.05 0.11 0.07 0.10 0.14 0.23 0.08

Conic Metals* Conquest Res * Conquest Res Cons Woodjam CONSOL Coal Rs* CONSOL Energy* CONSOL Energy* Constantine Mt* Constantine Mt Contact Gold* Contact Gold Contact Mnrls* CopAur Min Copper Fox Mtl Copper Fox Mtl* Copper Lake Rs Copper Mtn Mng Copper Mtn Mng* Copper North M* Copper North M Copper One * Copper One Copperbank Res* Copperbank Res Coral Gold * Coral Gold Cordoba Mnls Cordoba Mnls* Core Assets Cornerstone Ca Cornerstone Ca* Corsa Coal * Corsa Coal Cortus Metals Corvus Gold* Corvus Gold Crest Resource Crest Resource* Crestview Expl Critical Elem* Critical Elem Cross River Crown Mining Crown Mining* Cruz Cobalt* Cruz Cobalt Crystal Peak* Crystal Peak CWN M’g Acq Cyon Explor Cypress Dev* Cypress Dev

O O V V N N N O V O V O V V O V T O O V O C O C O V V O C V O O V V D T C O C O V C V O O C O V V V O V

2.59 1.40 0.44 0.50 2.06 2.78 0.48

0.03 0.34 0.04 0.02 0.11 0.21 0.12

Dajin Lithium* Dajin Res Dakota Ter Res* Damara Gold Damara Gold* Danakali* Debut Dmds Decade Res Decade Res* Deep-South Res* Deep-South Res DeepRock Min Defense Metals* Defense Metals Defiance Silvr* Defiance Silvr Delrand Res Denison Mines Denison Mines* Desert Gold* Desert Gold Desert Mtn Egy Diamante Min* Diamcor Mng Diamcor Mng* Diamond Disc* Diamond Fields Diamond Fields* Dios Expl Discovery Harb* Discovery Harb Discovery Met* Discovery Met Discovery Min* Discovery-Corp District Cop District Cop* District Metal* District Metal Ditem Explor* Diversified Rs* Dixie Gold DNI Metals* Dolat Ventures* Dolly Vard Sil* Dolly Vard Sil Dore Copper Doubleview Gld Doubleview Gld* DRDGOLD* Dundee Prec Mt Durango Res* Durango Res DV Resources Dynacor Gld Mn Dynacor Gld Mn* DynaResource* Dynasty Gold E3 Metals* E3 Metals Eagle Graphite Eagle Graphite* Eagle Plains East Africa East Africa * East Asia Mnls* East Asia Mnls EastCoal Inc Eastern Platin* Eastern Platin Eastfield Res Eastfield Res* Eastmain Res Eastmain Res* Eclipse Gold* Eclipse Gold Eco Oro Mnls Eco Oro Mnls* Edgemont Gold Edgewater Expl Edison Cobalt* Edison Cobalt El Capitan Prc* El Nino Vent* El Nino Vent Elcora Adv Mat Elcora Res* Eldorado Gold* Eldorado Gold Eloro Res* Eloro Res Ely Gold Royal Ely Gold Royal* Elysee Dev Elysee Dev * Emerita Res Emerita Res* Emgold Mining* Emgold Mining EMX Royalty* EMX Royalty Encanto Potash* Encanto Potash EnCore Energy Endeavour Mng* Endeavour Mng Endeavr Silver* Endeavr Silver Endurance Gold* Endurance Gold Enduro Metals Enduro Metals* Energy Fuels Energy Fuels* Engineer Gold Engold Mines Engold Mines* Ensurge*

C 0.03 0.05 0.41 0.63 0.14 0.12 0.01 0.00 0.00 1.72 2.28 17.65 1.85 1.32 0.10 0.00 1.92 2.59 9.24 12.21 0.11 0.17 0.00 0.05 0.26 0.00 0.00 1.72 1.30 0.06 0.00 0.06 0.04 0.42 0.48 0.07 0.18 0.00 0.15 0.20 0.03 0.12 0.09 0.13 0.00 0.45 0.09 0.03 0.04 0.00 0.22 0.00 0.10 0.17 0.00 0.23 0.00 0.17 0.00 1.08 0.20 0.00 0.16 0.27 1.46 0.00 0.03 0.70 0.98 0.00 0.00 0.10 0.04 0.08 0.23 0.18 0.10 0.08 0.00 0.67 0.01 0.03 0.19 0.00 0.10 0.13 0.02 2.71 0.00 12.81 0.35 0.00 0.05 0.02 0.15 0.26 0.35 0.00 0.00 0.00 0.38 0.11 0.49 0.37 2.11 0.08 0.10 0.00 2.91 0.00 0.04 4.13 5.43 71.39 0.14 0.00 0.16 0.12 1.51 1.18 0.92 0.61 0.28 0.18 7.19 0.12 0.14 0.12 0.10 0.32 0.00 0.05 7.80 0.04 0.07 0.23 0.19 0.80 0.00 3.20 0.10 0.12 0.25 0.19 0.20 0.24 1.05 0.17 0.12 0.58 0.86 0.25 0.11 1.23 1.64 0.25

0.03 unch 0.06 + 0.49 0.63 0.14 unch 0.12 unch 0.01 unch 0.03 unch 0.07 unch 1.75 2.29 17.88 2.17 + 1.64 + 0.13 + 0.15 + 2.23 + 2.95 + 9.26 12.24 0.11 0.17 0.14 + 0.05 0.26 0.21 0.06 + 1.85 unch 1.40 0.06 unch 0.05 0.06 0.05 + 0.46 + 0.59 + 0.11 + 0.18 unch 0.09 0.16 + 0.21 + 0.05 + 0.14 + 0.10 + 0.14 0.40 + 0.52 0.10 + 0.04 0.05 + 0.19 + 0.25 + 0.15 0.10 0.17 unch 0.21 + 0.25 0.13 unch 0.17 unch 0.84 1.15 0.22 0.15 0.24 + 0.30 + 1.55 + 0.04 0.03 0.72 + 1.00 unch 0.07 0.05 unch 0.13 0.04 0.08 0.25 + 0.19 0.13 + 0.08 unch 0.04 unch 0.80 + 0.02 unch 0.04 + 0.28 + 0.28 unch 0.10 0.14 unch 0.02 + 2.77 0.04 unch 13.04 0.40 + 0.32 + 0.05 unch 0.02 unch 0.15 unch 0.26 0.36 0.00 0.02 unch 0.22 unch 0.45 + 0.11 unch 0.55 + 0.41 + 2.15 unch 0.08 unch 0.13 + 2.24 2.93 0.07 unch 0.05 4.33 + 5.72 + 72.89 0.14 unch 0.10 unch 0.19 + 0.14 + 1.56 + 1.26 + 0.92 + 0.68 0.30 + 0.18 7.61 + 0.12 unch 0.14 0.14 + 0.11 + 0.39 + 0.04 0.05 7.93 0.04 0.07 unch 0.23 0.19 unch 0.89 + 0.00 unch 3.20 unch 0.12 + 0.15 + 0.26 0.19 0.21 + 0.26 1.07 0.17 + 0.13 0.58 0.86 0.25 0.20 + 1.23 1.64 0.27 +

(100s)

High Low

Exc Volume

Week Last

12-month

High

Low

Change

108 75 892 324 96 1243 14018 38 1 31 117 0 674 273 121 304 894 68 1 389 361 4860 72 279 57 100 438 68 61 112 31 10 179 8 1956 1299 834 9 92 414 1452 411 906 100 215 1459 1270 824 155 405 1256 2266

0.21 0.08 0.36 0.17 3.34 4.55 10.96 0.17 0.00 0.15 0.19 0.04 0.16 0.13 0.12 0.03 1.06 0.80 0.04 0.06 0.16 0.20 0.15 0.18 0.91 1.19 0.12 0.10 0.15 6.09 5.00 0.27 0.27 0.25 3.03 3.75 0.12 0.09 0.38 0.53 0.68 0.38 0.10 0.04 0.05 0.06 0.01 0.02 0.05 0.30 0.56 0.74

+ 0.17 0.19 0.06 0.07 + 0.09 0.33 + 0.15 0.15 2.96 2.99 4.00 4.11 10.09 10.13 0.15 0.17 unch 0.00 0.21 unch 0.13 0.13 0.18 0.18 0.04 0.04 unch 0.14 0.14 0.11 0.12 + 0.08 0.10 0.02 0.02 unch 0.98 1.00 0.74 0.76 + 0.00 0.04 0.05 0.05 unch + 0.13 0.15 + 0.17 0.20 0.13 0.13 + 0.00 0.17 0.86 0.88 1.14 1.17 0.11 0.12 unch + 0.08 0.09 0.10 0.10 5.84 5.85 4.25 4.43 + 0.12 0.15 0.20 0.20 unch 0.24 0.24 2.35 2.49 3.10 3.25 + 0.10 0.11 0.08 0.08 0.34 0.36 0.40 0.45 0.51 0.59 0.33 0.37 + 0.06 0.09 0.04 0.04 0.04 0.04 0.05 0.05 + 0.00 0.01 0.01 0.01 0.05 0.05 unch 0.27 0.28 0.38 0.39 0.51 0.51

1033 O 565 V 155 O 273 V 189 O 151 O 38 C 2126 V 131 O 150 O 641 V 201 C 541 O 484 V 2367 O 2926 V 1239 V 3445 T X 17607 125 O 810 V 400 V 1 O 369 V 335 O O 25791 4 V 1 O 994 V 194 O 124 V 1376 O 3266 V O 136361 63 V 334 V 281 O 92 O 828 V 59 O 4 O 251 V 5 O 24 O 899 O 1665 V 176 V 167 V 51 O 1063 N 4505 T 6 O 142 V 305 V 261 T 61 O 2 O 11 V 171 O 399 V 58 V 35 O 302 V 598 V 2 O 613 O 1428 V 1 V 2 O 66 T 234 V 9 O T 10527 1017 O 233 O 842 V 36 C 28 O 50 C 50 V 8 O 60 V 1015 O 4 O 101 V 203 V 70 O N 17583 6339 T 68 O 186 V 656 V 927 O 121 V 103 O 1693 V 5 O 173 O 552 V 757 X 81 V 0 O 47 V 759 V 50 O 1916 T N 10937 1986 T 64 O 434 V 1604 V 397 O 790 T 5042 X 76 V 709 V 12 O 10 O

0.05 0.06 0.38 0.07 0.06 0.32 0.16 0.09 0.07 0.08 0.11 0.03 0.18 0.21 0.56 0.73 0.12 0.50 0.36 0.16 0.19 1.74 0.02 0.09 0.07 0.00 0.15 0.09 0.11 0.08 0.09 1.48 1.91 0.00 0.08 0.02 0.01 0.28 0.40 0.00 0.00 0.26 0.01 0.10 0.72 0.92 0.65 0.27 0.20 13.13 10.67 0.10 0.15 0.15 1.93 1.45 0.90 0.10 0.49 0.60 0.05 0.03 0.17 0.17 0.11 0.16 0.18 0.00 0.29 0.39 0.05 0.04 0.28 0.20 0.65 0.83 0.06 0.03 0.11 0.17 0.02 0.04 0.01 0.02 0.04 0.12 0.10 14.23 18.79 1.38 1.83 1.37 1.10 0.54 0.45 0.27 0.19 0.09 0.11 3.03 3.99 0.06 0.08 0.44 27.00 35.60 3.75 4.91 0.11 0.14 0.28 0.22 2.28 1.72 0.14 0.06 0.04 0.03

High Low

0.00 0.11 0.08 0.01 0.03 0.19 0.50 0.00 0.00 0.01 0.01 0.00 0.02 0.01 0.00 0.00 0.05 0.03 0.00 0.00 0.02 0.03 0.00 0.01 0.00 0.01 0.00 0.02 0.05 0.14 0.11 0.00 0.00 0.01 0.38 0.49 0.01 0.01 0.02 0.07 0.07 0.01 0.02 0.01 0.00 0.01 0.00 0.01 0.00 0.02 0.15 0.18

0.35 0.25 0.36 0.19 13.25 15.24 14.19 0.22 0.29 1.00 0.28 0.24 0.27 0.20 0.14 0.03 1.19 0.90 0.05 0.07 0.69 1.00 0.18 0.24 1.03 1.34 0.14 0.10 0.20 6.53 4.95 0.38 0.51 0.35 3.29 4.26 0.22 0.12 2.60 0.53 0.68 0.48 0.10 0.07 0.05 0.07 0.11 0.13 0.21 0.32 0.64 0.84

0.09 0.03 0.04 0.02 2.91 3.35 4.26 0.09 0.12 0.00 0.08 0.04 0.05 0.01 0.03 0.01 0.28 0.19 0.01 0.01 0.01 0.05 0.12 0.10 0.18 0.26 0.05 0.03 0.10 1.36 1.05 0.08 0.12 0.20 0.72 0.99 0.04 0.09 0.33 0.16 0.17 0.17 0.02 0.01 0.01 0.03 0.00 0.01 0.03 0.06 0.08 0.11

0.00 0.00 0.01 0.01 0.00 0.01 0.05 0.01 0.00 0.00 0.01 0.00 0.02 0.02 0.07 0.09 0.01 0.02 0.01 0.03 0.02 0.09 0.00 0.02 0.01 0.00 0.03 0.00 0.01 0.00 0.00 0.09 0.11 0.00 0.00 0.00 0.00 0.02 0.02 0.00 0.00 0.02 0.00 0.03 0.02 0.04 0.04 0.01 0.00 0.36 0.47 0.00 0.02 0.04 0.00 0.01 0.05 0.00 0.02 0.01 0.01 0.00 0.00 0.02 0.01 0.00 0.01 0.00 0.01 0.01 0.01 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.00 1.12 1.58 0.06 0.10 0.09 0.06 0.01 0.00 0.03 0.02 0.01 0.00 0.00 0.05 0.00 0.02 0.02 1.03 1.49 0.17 0.19 0.02 0.00 0.01 0.00 0.09 0.07 0.00 0.01 0.00 0.00

0.06 0.08 0.96 0.09 0.06 0.47 0.23 0.14 0.10 0.09 0.16 0.07 0.23 0.25 0.50 0.73 0.62 0.75 0.58 0.26 0.35 1.88

0.01 0.02 0.06 0.02 0.00 0.16 0.07 0.01 0.00 0.02 0.03 0.01 0.03 0.06 0.03 0.06 0.08 0.24 0.19 0.05 0.05 0.14

0.20 0.15 0.01 0.25 0.17 0.24 0.14 0.18 2.14 2.84 0.00 0.15 0.03 0.02 0.31 0.47 0.01 0.03 0.28 0.06

0.06 0.05 0.00 0.09 0.04 0.03 0.02 0.03 0.13 0.22 0.00 0.07 0.01 0.00 0.08 0.08 0.00 0.00 0.07 0.00

0.91 1.17 1.65 0.34 0.26 18.05 10.73 0.13 0.18 0.20 2.62 1.98 1.10 0.14 0.59 0.76 0.08 0.06 0.18 0.18 0.13 0.21 0.24 0.09 0.44 0.72 0.06 0.04 0.32 0.24 0.80 0.96 0.10 0.08 0.14 0.20 0.05 0.05 0.02 0.05 0.07 0.19 0.14 14.23 18.72 1.45 1.89 2.09 1.54 0.54 0.38 0.40 0.23 0.12 0.15 3.33 4.40 0.08 0.10 0.53 30.33 39.21 4.79 6.40 0.13 0.17 0.38 0.28 3.29 2.35 0.21 0.09 0.06 0.06

0.12 0.17 0.45 0.04 0.04 3.06 3.20 0.03 0.04 0.05 0.99 0.70 0.24 0.04 0.11 0.19 0.02 0.01 0.07 0.08 0.07 0.02 0.02 0.06 0.12 0.18 0.03 0.02 0.06 0.04 0.31 0.40 0.03 0.02 0.10 0.04 0.01 0.02 0.01 0.01 0.02 0.02 0.01 4.60 6.29 0.14 0.19 0.33 0.24 0.28 0.19 0.02 0.15 0.03 0.03 1.18 1.54 0.01 0.01 0.08 11.02 15.68 0.99 1.30 0.02 0.03 0.05 0.04 1.10 0.78 0.03 0.02 0.02 0.01

D-F 0.04 0.05 0.33 0.05 0.04 0.26 0.00 0.09 0.06 0.08 0.10 0.00 0.13 0.18 0.41 0.48 0.09 0.44 0.33 0.14 0.15 1.50 0.02 0.07 0.05 0.00 0.12 0.09 0.10 0.06 0.00 1.31 1.72 0.00 0.08 0.01 0.01 0.25 0.33 0.00 0.00 0.23 0.00 0.05 0.62 0.76 0.59 0.24 0.18 12.22 9.97 0.00 0.13 0.11 1.77 1.35 0.00 0.10 0.43 0.56 0.00 0.03 0.16 0.14 0.00 0.12 0.16 0.00 0.00 0.36 0.05 0.03 0.25 0.19 0.57 0.76 0.05 0.03 0.11 0.17 0.02 0.03 0.01 0.02 0.00 0.10 0.07 12.14 15.10 1.19 1.55 1.27 0.97 0.46 0.37 0.18 0.17 0.07 0.10 2.76 3.61 0.00 0.06 0.39 25.10 32.76 3.44 4.54 0.09 0.11 0.25 0.19 2.12 1.61 0.12 0.05 0.04 0.03

0.05 0.06 unch + 0.38 + 0.07 0.05 + 0.32 0.11 0.09 0.07 0.08 0.10 0.03 unch 0.14 0.18 + 0.49 + 0.64 0.11 0.46 0.35 + 0.15 0.16 + 1.65 0.02 unch + 0.09 + 0.06 0.00 + 0.15 0.09 unch 0.10 0.07 unch 0.09 unch 1.32 1.72 0.00 unch 0.08 unch 0.02 unch + 0.01 0.26 0.35 0.00 unch 0.00 unch + 0.26 + 0.01 0.07 + 0.66 + 0.87 0.60 0.25 0.19 12.41 10.13 + 0.10 0.13 + 0.15 1.85 unch 1.37 0.85 0.10 unch 0.43 0.57 + 0.05 0.03 unch 0.17 unch + 0.17 0.10 0.13 0.16 0.09 unch 0.28 0.38 0.05 0.03 0.28 unch 0.20 unch 0.61 0.81 unch 0.05 0.03 unch 0.11 unch 0.17 unch + 0.02 0.03 unch 0.01 + 0.02 0.04 0.10 + 0.08 + 13.53 + 17.86 1.19 1.56 1.27 0.97 + 0.51 0.38 0.24 + 0.19 0.08 0.11 unch 2.84 unch + 3.74 + 0.06 + 0.08 0.39 + 26.74 + 35.28 3.45 4.57 0.09 0.13 unch 0.25 0.19 2.14 1.63 0.13 unch + 0.06 0.04 unch 0.03 unch

G LOBAL M I N I N G

N EW S

(100s) Stock

Exc Volume

TH E N OR TH ER N

Week High

Low 0.27 0.39 12.46 15.91 0.22 0.16 0.11 0.14 0.46 0.36 0.04 0.04 18.71 14.45 0.09 0.09 0.00 0.48 0.72 0.32 0.15 0.20 0.30 0.35 0.19 0.40 0.30 0.00 0.01 0.00 0.47 0.12 0.00 0.36 0.30 0.05 0.06 0.07 0.04 0.33 3.66 2.77 0.46 0.61 0.01 0.01 6.93 4.66 0.00 0.26 0.40 0.25 0.13 0.11 0.08 0.05 0.06 0.50 0.38 0.06 0.04 0.00 1.84 0.12 1.13 1.51 0.00 0.18 0.15 0.00 0.96 0.77 0.00 0.10 0.14 0.13 0.20 13.24 10.14 0.48 0.37 0.44 12.04 0.34 0.25 0.00 0.05 0.22 0.29 0.02 0.03 0.08 0.09 0.06 0.07 0.02 0.03 0.25 0.28 0.18 0.14 0.20 11.60 8.70 6.62 1.10 0.00 0.05 0.07 0.13 0.10 2.87 0.32 0.24 0.00 0.59 138.79 182.04 0.00 0.97 0.56 0.43 16.50 0.33 0.06 16.95 0.27 0.02 0.00 0.15 0.00 1.42 1.87 0.02 0.03

Entree Res* Entree Res Equinox Gold* Equinox Gold Equitorial Ex Equitorial Ex* Equity Metals* Equity Metals Erdene Res Dev Erdene Res Dev* Erin Ventures* Erin Ventures Ero Copper Ero Copper* Eros Res Corp Eros Res Corp Eros Res Corp* Eskay Mng* Eskay Mng Essex Minerals Ethos Gold* Ethos Gold Etruscus Res* Etruscus Res Euro Manganese Euro Sun Mg Euro Sun Mg* EurOmax Res* EurOmax Res European Elect* European Elect European Metal* Eurotin Evergold Evergold* Everton Res* EVI Global Grp Evolving Gold Evolving Gold* Evrim Res Excellon Res Excellon Res* Excelsior Mng* Excelsior Mng ExGen Res Inc ExGen Res Inc* Explorex Res Explorex Res* Fairmile Gold* Fairmont Res* Falco Res Falco Res * Falcon Gold Falcon Gold* Fancamp Expl Far Res* Far Res FenixOro Gold FenixOro Gold* Fidelity Min Fidelity Min* Filo Mg Corp * Filo Mg Corp Finlay Minrls Fiore Gold* Fiore Gold Fire River Gol* FireFox Gold FireFox Gold* Firestone Vent Fireweed Zinc Fireweed Zinc* Firma Holdings* First Cobalt * First Cobalt First Energy* First Energy First Majestic First Majestic* First Mg Fin First Mg Fin * First Point* First Quantum First Vanadium First Vanadium* Fission 3.0 Fission 3.0* Fission Uran* Fission Uran Five Star Diam Five Star Diam* Fjordland Exp* Fjordland Exp Flow Metals Flowery Gold* Focus Graphite* Focus Graphite Focus Minerals* Fokus Mining Foran Mng Forsys Metals Fort St J Nick Fortescue Met* Fortuna Silvr Fortuna Silvr* Fortune Bay Fortune Bay* Fortune Mnrls* Fortune Mnrls Forum Energy Forum Energy* Fosterville Four Nines Four Nines* Fox River Res FPX Nickel Franco-Nevada* Franco-Nevada Franklin Mng* Freegold Vent Freeman Gold Freeman Gold* Freeport McMoR* Freeport Res Fremont Gold Fresnillo plc* Frontier Lith Frontline Gold Full Metal Mnl* Fura Gems Fura Gems* Fury Gold* Fury Gold Fuse Cobalt* Fuse Cobalt

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

105 110 3176 3767 157 10 393 382 960 107 216 54 634 29 154 154 2 470 1176 311 228 626 20 92 1821 1202 405 165 147 13 18 62 0 545 26 1 1960 42 1 1235 274 195 213 314 1175 490 7 5 1 71 209 43 1133 754 891 20 1081 840 279 310 50 5 137 726 236 1010 1 415 117 14 790 68 212 701 2107 388 463 4812 19423 7185 2494 226 8699 221 231 537 333 983 1718 759 5 50 138 102 2 589 4441 8 1467 96 89 9 21 4111 12256 128 2 474 608 700 265 756 12 11 20 682 2059 1473 747 6761 1777 153 58930 3554 1572 36 677 71 0 115 6 2584 2133 538 1297

0.32 0.42 13.07 17.25 0.29 0.20 0.17 0.18 0.50 0.39 0.04 0.04 19.91 15.07 0.09 0.09 0.07 0.78 1.03 0.45 0.19 0.25 0.31 0.39 0.22 0.44 0.38 0.03 0.04 0.37 0.47 0.16 0.00 0.53 0.39 0.05 0.08 0.07 0.04 0.38 3.91 3.34 0.51 0.70 0.02 0.01 7.10 5.29 0.00 0.30 0.42 0.50 0.16 0.17 0.09 0.06 0.08 0.58 0.46 0.08 0.04 1.48 1.96 0.15 1.24 1.61 0.03 0.22 0.19 0.16 1.23 0.94 0.01 0.11 0.15 0.18 0.24 14.40 10.97 0.51 0.39 0.52 12.78 0.37 0.35 0.08 0.06 0.27 0.33 0.03 0.03 0.08 0.10 0.08 0.20 0.04 0.04 0.25 0.37 0.20 0.16 0.25 12.45 9.52 7.26 1.28 0.98 0.06 0.08 0.15 0.13 3.07 0.35 0.35 0.08 0.69 143.91 188.24 0.01 1.17 0.65 0.67 17.30 0.43 0.07 17.90 0.33 0.03 0.00 0.15 0.16 2.60 3.32 0.03 0.04

G2 Goldfields* G2 Goldfields Gabriel Res* Gabriel Res Gaia Metals* Gaia Metals Gainey Capital Galane Gold * Galane Gold Galantas Gold Galantas Gold* Galiano Gold Galiano Gold* Galleon Gold Galleon Gold* Galway Gold * Galway Gold Galway Mtls* Galway Mtls Gambier Gold* Gambier Gold Garibaldi Res * Garibaldi Res Gatling Explor Gatling Explor* General Moly* General Moly Generation Min* Generation Min Generic Gold Genesis Mtls* Genesis Mtls Genius Metals Gensource Pot Geomega Res Geomega Res* Gespeg Res Getchell Gold * Getchell Gold Getty Copper GFG Resources* GFG Resources

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

4 518 738 382 21 608 421 647 1744 138 16 1125 4333 2784 463 14 8 244 1375 5 263 68 321 384 174 4556 443 112 1103 116 274 917 58 1481 964 79 60 88 236 62 330 268

0.40 0.66 0.33 0.42 0.10 0.15 0.04 0.20 0.26 0.30 0.23 1.88 1.43 0.13 0.10 0.14 0.16 1.09 1.45 0.12 0.19 0.50 0.61 0.34 0.28 0.12 0.05 0.40 0.51 0.50 0.21 0.27 0.23 0.23 0.19 0.16 0.10 0.33 0.39 0.08 0.22 0.24

Last

Stock

0.30 + 0.40 12.78 16.91 + 0.24 0.20 + 0.13 unch 0.16 0.47 0.36 0.04 unch 0.04 unch 19.60 + 14.80 0.09 unch 0.09 unch 0.07 0.75 + 1.00 + 0.32 0.17 0.23 0.30 unch 0.36 0.21 + 0.41 unch 0.31 + 0.01 0.02 0.29 0.47 unch 0.12 unch 0.02 unch 0.50 + 0.39 + 0.05 unch 0.07 unch 0.07 unch 0.04 unch 0.35 3.69 2.80 0.50 0.63 0.02 unch 0.01 unch 7.05 + 5.29 + 0.00 unch 0.26 0.40 0.31 + 0.14 0.11 0.08 0.06 + 0.08 + 0.55 + 0.42 + 0.08 + 0.04 unch 1.48 + 1.95 + 0.13 + 1.20 1.60 + 0.03 + 0.19 unch 0.15 0.15 unch 1.06 0.77 0.00 0.11 0.14 0.17 + 0.23 + 13.86 unch 10.51 0.50 0.38 0.44 12.38 0.36 unch 0.28 0.07 0.06 + 0.22 0.30 0.03 0.03 unch 0.08 unch 0.09 0.07 unch 0.20 + 0.03 0.03 0.25 unch 0.37 + 0.18 0.16 unch 0.20 unch 11.68 9.08 6.88 1.20 unch 0.94 + 0.06 + 0.08 + 0.14 0.11 + 2.95 0.35 + 0.35 + 0.07 + 0.60 139.81 184.38 0.01 1.03 0.58 0.44 17.15 0.34 + 0.06 17.36 0.27 0.02 0.06 unch 0.15 unch 0.11 + 1.42 1.87 0.03 0.03 unch

0.00 0.01 0.09 0.05 0.06 0.04 0.00 0.01 0.03 0.01 0.00 0.00 0.06 0.04 0.00 0.00 0.00 0.17 0.24 0.10 0.00 0.01 0.00 0.03 0.02 0.00 0.00 0.00 0.02 0.06 0.00 0.00 0.00 0.06 0.09 0.00 0.00 0.00 0.00 0.01 0.12 0.14 0.02 0.04 0.00 0.00 0.05 0.56 0.00 0.03 0.02 0.05 0.01 0.01 0.01 0.01 0.02 0.03 0.02 0.02 0.00 0.08 0.08 0.01 0.01 0.02 0.01 0.00 0.01 0.00 0.14 0.15 0.00 0.00 0.01 0.01 0.02 0.00 0.05 0.01 0.01 0.02 0.36 0.00 0.00 0.01 0.00 0.02 0.01 0.01 0.00 0.00 0.01 0.00 0.08 0.00 0.01 0.00 0.06 0.02 0.00 0.00 0.68 0.10 0.12 0.00 0.05 0.00 0.01 0.01 0.01 0.05 0.03 0.11 0.01 0.02 1.16 0.82 0.00 0.02 0.06 0.04 0.08 0.01 0.01 0.18 0.04 0.01 0.00 0.00 0.00 2.08 5.21 0.00 0.00

0.40 0.53 13.66 17.99 0.35 0.14 0.17 0.20 0.71 0.55 0.05 0.08 23.93 18.22 0.17 0.17 0.11 0.70 1.03 0.92 0.28 0.37 0.34 0.48 0.24 0.63 0.49 0.05 0.07 0.37 0.60 1.00 0.04 0.95 0.71 0.90 0.49 0.14 0.11 0.62 6.15 3.36 0.94 1.23 0.02 0.01 7.10 5.25 0.00 0.63 0.60 0.72 0.25 0.19 0.09 0.08 0.12 0.63 0.56 0.13 0.09 1.83 2.50 0.15 1.33 1.75 0.90 0.25 0.17 0.24 1.31 0.97 0.04 0.13 0.18 0.21 0.30 19.41 14.57 0.60 0.47 0.64 14.85 0.48 0.36 0.11 0.08 0.38 0.49 0.06 0.04 0.08 0.12 0.20 0.51 0.04 0.04 0.25 0.43 0.29 0.22 0.30 14.12 10.47 7.95 1.56 1.21 0.07 0.10 0.17 0.14 5.34 0.39 0.35 0.12 0.84 166.11 222.15 0.10 1.95 0.84 0.89 17.50 0.95 0.17 18.11 0.35 0.04 0.06 0.21 0.16 3.94 7.78 0.10 0.14

0.00 0.13 0.06 0.07 0.00 0.02 0.01 0.04 0.05 0.02 0.00 0.02 0.02 0.01 0.00 0.02 0.01 0.04 0.03 0.01 0.01 0.03 0.03 0.03 0.03 0.00 0.00 0.01 0.02 0.01 0.03 0.02 0.00 0.00 0.01 0.00 0.01 0.01 0.00 0.01 0.02 0.01

0.87 1.20 0.54 0.69 0.14 0.23 0.09 0.30 0.41 0.70 0.40 2.80 2.12 0.20 0.14 0.27 0.39 1.57 2.09 0.13 0.19

0.13 0.14 0.26 0.31 0.03 0.03 0.02 0.03 0.05 0.03 0.02 0.80 0.56 0.03 0.02 0.06 0.08 0.21 0.27 0.03 0.02

1.59 0.56 0.43 100.00 0.54 0.62 0.61 0.61 0.38 0.49 0.32 0.23 0.23 0.17 0.12 0.37 0.50 0.09 0.32 0.44

0.37 0.24 0.17 0.10 0.03 0.15 0.39 0.02 0.10 0.15 0.14 0.07 0.09 0.06 0.03 0.05 0.07 0.02 0.05 0.07

GGL Res* GGL Res GGX Gold GGX Gold* Giga Metals Giga Metals* Gitennes Expl Gitennes Expl * Giyani Gold* Giyani Gold GK Resources Glacier Lake Glacier Lake* Gldn Predator Gldn Predator* Glen Eagle Res* Glen Eagle Res Glencore Plc * Glencore Plc* Global Atomic* Global Atomic Global Battery* Global Battery Global Energy* Global Energy Global Gold* Global Li-Ion* Global Li-Ion GlobalMin Vent* Globex Mng* Globex Mng GMV Minerals GMV Minerals* GNCC Capital* Go Cobalt* Go Cobalt GobiMin GoGold Res Gold Basin Res Gold Bull Res* Gold Bull Res Gold Fields* Gold Fields* Gold Finder Ex Gold Finder Ex* Gold Lion Res Gold Lion Res* Gold Plus Gold Plus* Gold Port Gold Reserve* Gold Reserve Gold Resource* Gold Rush Cari* Gold Rush Cari Gold Std Vents Gold Std Vents* Gold X Mining Goldâ&#x20AC;&#x2122;n Futures Gold79 Mines Gold79 Mines* Goldbank Mng Goldbank Mng* Goldblock Cap Goldcliff Res* Goldcliff Res Goldcore Res Golden Arrow Golden Arrow* Golden Band* Golden Birch Golden Cariboo Golden Dawn Ml Golden Dawn Ml* Golden Goliath Golden Goliath* Golden Harp Golden Hope Golden Hope* Golden Lake Golden Mnls Golden Mnls* Golden Pursuit Golden Ridge Golden Secret Golden Share Golden Star Golden Star* Golden Star* Golden Sun* Golden Tag Golden Valley* Golden Valley Goldex Res* Goldex Res Goldgroup Mng* Goldgroup Mng GoldHaven Res* GoldMining GoldMining* GoldON Res* GoldON Res GoldQuest Mng Goldrea Res Goldrea Res* Goldrich Mng* Goldseek Res Goldsource Min Goldsource Min* Goldstar Mnls Goldstar Mnls* Goldstrike Res* Goldstrike Res Goliath Res* Goliath Res Gossan Res GoviEx Uranium* GoviEx Uranium Gowest Gold* Gowest Gold GPM Metals GR Silver* GR Silver Gran Colombia* Gran Colombia Granada Gold Granada Gold* Grande Portage Grande Portage* Granite Creek* Granite Creek Graphite Egy* Graphite One* Graphite One Gratomic* Gratomic Graycliff Exp Great Atlantic Great Bear Res Great Bear Res* Great Lakes Gr* Great Panther Great Panther* Great Thunder* Greatbanks Re Green River Green Swan Cap Green Valley M Greencastle Rs Greenland M&En* Greenshield Ex Grenville Gold Grid Metals Grid Metals* Grizzly Discvr* Grizzly Discvr Group Eleven Group Ten Mtls* Group Ten Mtls GrowMax Res* GSP Resource GT Gold GT Gold * Gungnir Res* Gungnir Res Gunpoint Expl* Gunpoint Expl Guyana Goldstr Handeni Gold* Hanna Capital* Hanna Capital Hannan Metals Hannan Metals* Hanstone Gold Happy Ck Mnrls Harfang Explor Harmony Gold* Harte Gold* Harte Gold Harvest Gold*

0.16 0.23 4.63 6.60 0.05 0.14 0.03 0.04 0.13 0.09 0.02 0.03 8.40 5.92 0.06 0.06 0.04 0.06 0.09 0.10 0.05 0.08 0.25 0.12 0.05 0.14 0.02 0.01 0.02 0.24 0.05 0.00 0.01 0.18 0.15 0.00 0.05 0.01 0.00 0.19 1.55 2.47 0.30 0.42 0.01 0.00 3.49 0.00 0.00 0.27 0.17 0.11 0.03 0.06 0.03 0.01 0.02 0.10 0.08 0.02 0.02 0.77 1.00 0.02 0.19 0.27 0.00 0.04 0.10 0.03 0.31 0.21 0.00 0.05 0.08 0.02 0.04 5.30 4.17 0.12 0.09 0.08 4.71 0.13 0.08 0.03 0.02 0.07 0.10 0.01 0.02 0.02 0.03 0.06 0.04 0.01 0.01 0.13 0.04 0.08 0.06 0.09 5.16 2.05 1.47 0.22 0.14 0.03 0.04 0.05 0.03 0.91 0.10 0.15 0.04 0.11 77.18 105.93 0.00 0.04 0.11 0.18 4.82 0.08 0.04 5.53 0.14 0.01 0.00 0.05 0.05 1.05 1.89 0.01 0.02

G-H 0.00 0.50 0.23 0.31 0.09 0.12 0.03 0.14 0.19 0.28 0.23 1.72 1.30 0.11 0.09 0.10 0.00 0.00 1.20 0.12 0.16 0.37 0.56 0.28 0.22 0.11 0.04 0.35 0.45 0.46 0.18 0.24 0.20 0.20 0.18 0.10 0.08 0.26 0.35 0.07 0.17 0.22

0.39 0.64 0.23 0.32 0.10 0.14 0.03 0.15 0.20 0.29 0.23 1.83 1.39 0.13 0.10 0.10 0.15 1.03 1.34 0.12 0.19 0.46 0.60 0.32 0.25 0.11 0.05 0.37 0.50 0.46 0.18 0.24 0.22 0.21 0.19 0.13 0.09 0.28 0.38 0.07 0.17 0.23

(100s)

12-month High Low

Change

unch + + + + + + + + + + + + unch unch + + unch unch + unch -

Exc Volume O V V O V O V O O V V V O V O O V O O O T O V O V O O C O O T V O O O C V T C O V O N V O C O C O C O V X O V T X V C V O V O C O V V V O O C V V O V O V V O C T X V V V V T O X O V O V O V O T O T O O V V C O O C V O V O O V O V V O V O V V O V O T V O V O O V O O V O V C V V O O T X O V C V V V O V C V O O V V O V O V V O O V O V V O O V V O V V V N O T O

27 546 70 16 1861 2223 129 25 149 303 90 225 5 272 134 0 463 188 691 99 238 100 484 94 183 0 100 1721 3 74 109 84 44 16162 38 6 33 1877 41 9 400 1 19821 2771 223 550 3 1146 11 569 54 36 6772 46 1310 851 2293 702 967 341 26 0 1 20 683 2086 28 339 100 140 44 41 91 1 2140 414 16 291 24 1893 316 5158 500 294 460 26 126 24 1371 186 4451 19 27 15 36 82 497 480 2369 1813 106 431 165 827 88 221 25 2078 389 204 300 50 17 5 124 442 666 1128 41 65 380 697 1752 90 1155 609 211 464 70 83 324 10 683 630 130 2330 742 234 290 99 1224 2269 8370 9 108 104 130 5 66 688 18 3 434 511 331 1364 384 497 612 11 171 817 56 230 974 0 10 599 3 29 1103 281 174 119 974 238 21601 114 1070 43

Week High

Low

0.22 0.39 0.20 0.16 0.94 0.70 0.17 0.12 0.18 0.23 0.13 0.11 0.07 0.30 0.25 0.06 0.09 2.27 4.47 0.60 0.65 0.09 0.18 0.27 0.35 0.00 0.11 0.15 0.15 0.55 0.72 0.35 0.25 0.00 0.05 0.08 0.29 1.74 0.43 0.44 0.60 12.90 13.13 0.07 0.06 0.50 0.35 0.15 0.15 0.22 1.60 2.11 3.27 0.01 0.02 1.03 0.79 4.05 0.22 0.11 0.09 0.00 0.11 0.16 0.12 0.15 0.12 0.19 0.14 0.00 0.16 0.13 0.16 0.11 0.28 0.30 0.24 0.38 0.29 0.22 0.64 0.47 0.15 0.27 2.20 0.15 6.26 0.30 4.77 0.01 0.42 6.20 8.08 0.07 0.09 0.04 0.04 0.30 3.50 2.52 0.48 0.63 0.32 0.07 0.05 0.04 0.45 0.16 0.12 0.03 0.03 0.23 0.30 0.13 0.16 0.17 0.11 0.14 0.29 0.38 0.07 0.54 0.67 5.12 6.78 0.25 0.20 0.49 0.38 0.12 0.18 0.59 0.55 0.90 0.13 0.17 0.89 0.66 16.28 12.40 0.00 1.22 0.90 0.55 0.18 0.10 0.04 0.28 0.09 0.24 0.14 0.12 0.14 0.10 0.06 0.09 0.08 0.25 0.33 0.02 0.36 1.34 1.02 0.07 0.10 0.65 0.78 0.18 0.01 0.11 0.16 0.38 0.30 0.60 0.10 0.42 6.02 0.12 0.15 0.18

0.19 0.23 0.15 0.13 0.72 0.54 0.14 0.00 0.15 0.20 0.13 0.10 0.07 0.28 0.21 0.06 0.08 2.08 4.11 0.45 0.59 0.09 0.11 0.21 0.26 0.00 0.09 0.12 0.00 0.50 0.67 0.27 0.00 0.00 0.00 0.08 0.29 1.51 0.40 0.00 0.44 12.50 12.33 0.06 0.04 0.40 0.00 0.11 0.00 0.00 1.41 1.90 2.81 0.01 0.00 0.95 0.72 3.76 0.11 0.10 0.07 0.00 0.11 0.16 0.08 0.10 0.11 0.17 0.12 0.00 0.15 0.11 0.15 0.11 0.24 0.16 0.00 0.31 0.24 0.17 0.54 0.42 0.14 0.22 2.01 0.13 5.54 0.17 4.33 0.00 0.32 5.85 7.81 0.06 0.09 0.02 0.04 0.21 3.16 2.31 0.42 0.53 0.29 0.05 0.04 0.03 0.39 0.14 0.11 0.02 0.01 0.23 0.26 0.10 0.14 0.14 0.09 0.13 0.28 0.35 0.06 0.44 0.58 4.75 6.27 0.22 0.17 0.46 0.35 0.00 0.14 0.00 0.41 0.55 0.11 0.14 0.75 0.54 15.57 11.74 0.00 1.08 0.83 0.00 0.15 0.00 0.00 0.28 0.00 0.21 0.14 0.12 0.12 0.09 0.05 0.06 0.08 0.22 0.29 0.01 0.32 1.16 0.90 0.06 0.07 0.65 0.78 0.16 0.01 0.06 0.10 0.34 0.25 0.58 0.07 0.00 5.62 0.11 0.14 0.17

Last

12-month Change

0.22 0.30 unch 0.18 + 0.15 + 0.75 0.57 0.16 + 0.12 + 0.15 0.20 0.13 unch 0.11 + 0.07 unch 0.28 0.21 0.06 unch 0.08 2.09 4.18 0.48 + 0.61 0.09 unch 0.12 0.22 0.26 1.30 unch 0.09 0.13 0.14 0.53 0.69 0.29 + 0.24 + 0.00 unch 0.04 0.08 unch 0.29 unch 1.71 + 0.43 + 0.44 + 0.60 + 12.50 12.41 0.06 0.05 + 0.45 0.34 unch 0.13 0.10 0.19 1.46 1.90 3.02 0.01 + 0.02 unch 0.95 0.72 3.80 0.20 unch 0.11 + 0.08 + 0.15 unch 0.11 unch 0.16 unch 0.10 + 0.15 + 0.12 + 0.18 unch 0.14 + 0.00 unch 0.15 unch 0.13 unch 0.16 + 0.11 unch 0.26 + 0.20 + 0.24 unch 0.37 + 0.28 + 0.20 0.64 + 0.47 + 0.15 + 0.23 2.13 0.15 + 5.81 0.17 unch 4.40 0.00 0.42 + 5.95 7.82 0.06 0.09 unch 0.02 0.04 unch 0.23 + 3.17 2.45 unch 0.47 + 0.61 + 0.29 0.06 unch 0.04 0.04 + 0.39 0.14 0.11 + 0.02 + 0.01 0.23 unch 0.26 0.10 0.15 unch 0.15 0.10 unch 0.13 0.29 + 0.37 + 0.07 + 0.46 0.58 4.77 6.28 0.24 + 0.18 + 0.48 + 0.38 + 0.11 0.14 0.58 0.47 0.64 unch 0.12 0.16 0.87 + 0.64 + 15.95 12.15 0.00 + 1.09 0.84 0.53 0.15 0.08 unch 0.04 + 0.28 unch 0.09 + 0.22 + 0.14 unch 0.12 unch 0.13 0.10 + 0.06 + 0.08 + 0.08 + 0.24 + 0.32 + 0.02 0.35 + 1.19 0.90 0.07 + 0.10 + 0.65 unch 0.78 unch 0.17 0.01 unch 0.11 + 0.14 + 0.38 unch 0.29 0.58 0.09 unch 0.39 + 5.66 0.12 + 0.15 unch 0.18 unch

0.00 0.00 0.02 0.03 0.16 0.11 0.02 0.01 0.02 0.02 0.00 0.01 0.00 0.02 0.01 0.00 0.01 0.17 0.26 0.00 0.04 0.00 0.03 0.01 0.05 0.00 0.01 0.01 0.06 0.00 0.01 0.02 0.04 0.00 0.01 0.00 0.00 0.09 0.03 0.09 0.16 0.40 0.76 0.01 0.00 0.05 0.00 0.02 0.02 0.03 0.18 0.09 0.07 0.01 0.00 0.05 0.05 0.18 0.00 0.01 0.00 0.00 0.00 0.00 0.03 0.04 0.01 0.00 0.01 0.00 0.00 0.00 0.02 0.00 0.01 0.02 0.00 0.01 0.03 0.01 0.06 0.04 0.02 0.02 0.02 0.02 0.17 0.00 0.17 0.00 0.05 0.14 0.08 0.02 0.00 0.01 0.00 0.01 0.07 0.00 0.04 0.06 0.01 0.00 0.00 0.00 0.01 0.01 0.00 0.01 0.01 0.00 0.03 0.01 0.00 0.01 0.00 0.01 0.01 0.02 0.01 0.03 0.06 0.23 0.27 0.01 0.01 0.01 0.02 0.01 0.02 0.09 0.02 0.00 0.01 0.01 0.10 0.08 0.05 0.02 0.00 0.08 0.06 0.02 0.01 0.00 0.01 0.00 0.01 0.02 0.00 0.00 0.02 0.01 0.01 0.02 0.01 0.02 0.03 0.01 0.02 0.13 0.10 0.01 0.02 0.00 0.00 0.02 0.00 0.05 0.04 0.00 0.00 0.01 0.00 0.01 0.30 0.00 0.00 0.00

(100s)

High Low

Stock

0.25 0.39 0.30 0.22 2.44 1.84 0.55 0.14 0.19 0.28 0.17 0.25 0.13 0.48 0.37 0.10 0.14 3.39 6.66 0.65 0.90 0.11 0.18 0.23 0.45 2.35 0.13 0.19 0.58 0.61 0.81 0.35 0.27 0.00 0.14 0.16 0.35 1.84 0.50 0.52 0.70 15.00 14.90 0.17 0.13 0.75 0.51 0.26 0.18 0.30 2.02 2.70 6.24 0.03 0.04 1.50 1.14 4.62 0.35 0.14 0.11 0.19 0.14 0.16 0.14 0.18 0.15 0.22 0.16 0.01 0.28 0.15 0.26

0.02 0.03 0.05 0.05 0.13 0.09 0.05 0.01 0.04 0.04 0.11 0.05 0.09 0.15 0.11 0.05 0.07 1.29 2.51 0.18 0.23 0.03 0.02 0.11 0.05 0.55 0.03 0.03 0.10 0.19 0.26 0.08 0.05 0.00 0.01 0.02 0.20 0.37 0.10 0.01 0.02 4.09 3.79 0.02 0.02 0.17 0.34 0.05 0.10 0.04 1.05 1.82 2.02 0.00 0.01 0.46 0.27 0.75 0.11 0.02 0.02 0.09 0.06 0.12 0.05 0.07 0.04 0.09 0.06 0.00 0.03 0.02 0.04

Harvest Gold Hawkeye Gld&Di Hawkeye Gld&Di* Heatherdale Rs Hecla Mining* Hemcare Health* Hemlo Expl* Hemlo Expl High Point Exp Highbank Res HighGold* HighGold Highland Copp* Highland Copp Highway 50 Gld Highway 50 Gld* HiHo Silver HiHo Silver* Hochschild Mg* Honey Badger E* Honey Badger E Horizonte Mnls Hornby Bay Mnl* Hornby Bay Mnl HudBay Min* HudBay Min Hudson Res Hudson Res* Hunt Mng* Hunt Mng Hybrid Mineral Hylands Intl

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

0.38 0.32 0.44 0.50 0.36 0.36 0.80 0.58 0.38 0.33 2.25 0.20 6.89 0.60 5.20 0.01 0.42 6.20 8.15 0.09 0.12 0.07 0.10 0.45 3.85 3.00 0.82 1.15 0.50 0.08 0.05 0.05 0.59 0.19 0.14 0.04 0.02 0.28 0.40 0.25 1.20 0.17 0.14 0.19 0.31 0.46 0.09 0.72 0.95 6.19 8.10 0.34 0.26 0.68 0.52 0.14 0.20 1.01 0.79 1.04 0.19 0.25 0.89 0.80 19.83 14.62 0.02 1.42 1.07 0.71 0.18 0.10 0.06 0.40 0.10 0.24 0.20 0.18 0.27 0.20 0.07 0.10 0.14 0.30 0.39 0.12 0.67 2.25 1.63 0.08 0.10 0.67 0.93 0.40 0.14 0.10 0.16 0.54 0.41 2.94 0.12 0.45 7.61

0.04 0.02 0.04 0.06 0.05 0.07 0.20 0.13 0.04 0.08 0.66 0.03 2.56 0.17 1.85 0.00 0.03 5.15 3.10 0.04 0.06 0.01 0.02 0.11 0.85 0.61 0.14 0.20 0.09 0.02 0.01 0.01 0.07 0.06 0.04 0.01 0.02 0.00 0.12 0.00 0.12 0.02 0.05 0.08 0.08 0.10 0.03 0.07 0.10 2.10 2.88 0.09 0.06 0.10 0.07 0.09 0.03 0.00 0.10 0.15 0.00 0.03 0.30 0.30 3.68 7.46 0.00 0.32 0.23 0.10 0.06 0.04 0.01 0.05 0.03 0.04 0.13 0.06 0.08 0.05 0.01 0.02 0.02 0.09 0.12 0.00 0.08 0.66 0.50 0.02 0.03 0.29 0.43 0.08 0.01 0.01 0.02 0.07 0.05 0.45 0.06 0.15 1.76

I-Minerals I-Minerals* IAMGOLD IAMGOLD* Icon Explor* Iconic Mnls * Iconic Mnls Idaho Champion Idaho Champion* IEMR Res IM Exploration IMC Intl Mng IMC Intl Mng* iMetal Res iMetal Res* IMPACT Silver Impala Platnm* Imperial Metal Imperial Metal* Imperial Mg Gr Inca One Gold* Inca One Gold Inception Mng * Independence G Independence G* Indigo Expl Infinite Ore* Infinite Ore Inflection Res Infrastructure* Inomin Mines Inspiration Mg* Intact Gold Integra Res* Integra Res Inter-Rock Mnl Interconnect Intercontinent* Intercontinent Intl Battery Intl Battery* Intl Bethl Mng Intl Cobalt* Intl Cobalt Intl Cons Uran* Intl Cons Uran Intl Lithium Intl Lithium* Intl Millm Mng Intl Montoro* Intl Montoro Intl Prospect * Intl Prospect Intl Star* Intl Tower Hil* Intl Tower Hil Intl Zeolite* Intl Zeolite Intrepid Pots* INV Metals* INV Metals Inventus Mg * Inventus Mg InZinc Mining InZinc Mining* Ion Energy Irving Res* Irving Res IsoEnergy Ltd Itafos* Itafos Itoco Inc* Ivanhoe Mines* Ivanhoe Mines Ivor Explor Jade Leader* Jade Leader Jaeger Res Jaguar Mng Jaguar Mng* Japan Gold Japan Gold* Jasper Mining Jaxon Mining* Jaxon Mining Jayden Res Jayden Res* Jazz Res Jervois Mining Jervois Mining* JNC Resources* JNC Resources Josemaria Res* Josemaria Res Joshua Gold* Jourdan Res Jubilee Metals* Juggernaut Exp* Juggernaut Exp Jupiter Gold* K2 Gold K9 Gold* K92 Mining K92 Mining* Kaizen Discov Kaizen Discvry* Kanadario Gold Kapuskasing Gd* Kapuskasing Gd Karam Min Karnalyte Res Karoo Expl Karora Res* KAT Expl* Kenadyr Mining* Kenadyr Mining Kerr Mines* Kerr Mines Kesselrun Res* Kesselrun Res Kestrel Gold Kilo Goldmines* Kilo Goldmines Kincora Copper* Kincora Copper King Global* King Global Kingman Min Kings Bay Res* Kings Bay Res Kingsmen Res Kingsmen Res* Kinross Gold Kinross Gold* Kintavar Exp Kirkland Lake* Kirkland Lake Klondike Gold* Klondike Gold Klondike Silv* Klondike Silv Kodiak Copper* Kombat Copper* Kombat Copper Kootenay Silvr*

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

0.25 0.08 0.19 0.04

Exc Volume

Week

M I N ER

12-month

High

Low

Last

51 31 10 9 25432 31 1 136 5 3739 115 1036 177 344 121 8 247 6 77 188 1903 625 7 2013 3651 4212 915 276 40 685 114 5

0.25 0.03 0.02 0.89 5.60 0.95 0.45 0.78 0.30 0.03 2.26 2.95 0.04 0.06 0.24 0.17 0.04 0.03 3.37 0.21 0.08 0.13 0.06 0.08 4.64 6.10 0.22 0.20 0.14 0.18 0.17 0.03

0.24 0.02 0.02 0.00 5.23 0.65 0.45 0.00 0.00 0.02 1.90 2.51 0.04 0.00 0.21 0.17 0.03 0.01 3.07 0.05 0.08 0.11 0.01 0.06 4.27 5.56 0.16 0.12 0.11 0.13 0.16 0.03

0.25 0.03 0.02 0.80 5.30 0.75 0.45 0.72 0.30 0.02 2.05 2.71 0.04 0.06 0.22 0.17 0.04 0.01 3.24 0.06 0.08 0.12 0.06 0.07 4.59 6.05 0.22 0.17 0.13 0.16 0.17 0.03

91 10 6361 14624 75 40 633 780 193 117 236 2148 313 161 715 1341 1 111 14 593 109 151 356 482 67 76 25 1844 704 2894 320 2 78 424 304 1 48 1 29 107 71 83 389 411 26 133 224 124 1791 75 1072 119 158 460 2817 130 10 181 361 42 239 97 285 127 3 194 309 282 727 5 20 71 459 4390 88 1 85 222 890 170 209 183 20 94 357 194 9 435 1468 986 88 274 27 687 21 332 203 27 342 12 2326 11 2420 492 86 53 76 287 959 11 40 14 396 13498 472 5492 453 2024 948 2884 2106 52 242 142 94 56 735 87 2 654 137 1 24290 38342 509 5708 3895 37 269 873 9676 83 45 760 964

0.03 0.02 5.51 4.30 0.07 0.10 0.14 0.28 0.25 0.03 0.13 0.20 0.17 0.14 0.10 1.11 8.64 3.11 2.65 0.11 0.45 0.61 0.03 0.16 0.13 0.08 0.06 0.08 0.49 0.00 0.13 0.00 0.06 3.54 4.68 0.00 0.07 0.09 0.12 0.13 0.10 0.03 0.01 0.01 0.40 0.55 0.06 0.04 0.02 0.08 0.09 0.10 0.14 0.00 1.50 1.97 0.07 0.08 10.70 0.33 0.44 0.11 0.17 0.03 0.03 0.33 2.80 3.15 1.36 0.30 0.36 0.15 3.69 4.83 0.40 0.04 0.07 0.04 8.25 6.65 0.36 0.27 0.06 0.06 0.08 0.09 0.05 0.25 0.32 0.25 0.41 0.54 0.68 0.90 0.07 0.03 0.08 0.11 0.14 1.00 0.96 0.35 7.44 5.65 0.05 0.04 0.50 0.15 0.19 0.16 0.28 0.52 2.95 0.00 0.04 0.05 0.11 0.14 0.29 0.40 0.11 0.01 0.02 0.10 0.12 0.03 0.05 0.09 0.01 0.01 0.22 0.13 12.38 9.42 0.10 51.78 67.99 0.21 0.26 0.06 0.08 2.22 0.26 0.36 0.36

Change

High Low

unch unch unch unch + + + unch + + unch + unch + + + + + + unch

0.00 0.00 0.00 0.08 0.23 0.16 0.10 0.03 0.00 0.01 0.18 0.22 0.01 0.01 0.02 0.00 0.01 0.02 0.11 0.00 0.00 0.01 0.00 0.01 0.02 0.01 0.05 0.04 0.03 0.03 0.01 0.00

0.29 0.05 0.04 1.35 6.79 1.92 0.81 1.11 0.30 0.03 2.44 3.14 0.04 0.06 0.25 0.17 0.07 0.21 4.35 0.08 0.10 0.20 0.06 0.11 4.82 6.34 0.38 0.30 0.14 0.18 0.25 0.06

0.06 0.01 0.00 0.28 1.40 0.54 0.04 0.17 0.02 0.01 0.42 0.57 0.01 0.02 0.06 0.04 0.02 0.01 0.99 0.01 0.01 0.03 0.01 0.03 1.23 1.66 0.07 0.04 0.02 0.04 0.01 0.03

0.03 unch 0.02 5.18 3.92 0.05 0.09 + 0.13 0.25 0.20 0.03 unch 0.12 unch 0.17 0.13 0.12 0.09 unch 1.04 + 8.64 unch 2.99 2.26 0.10 + 0.45 + 0.58 0.02 0.15 + 0.11 0.08 0.06 + 0.07 + 0.45 0.00 0.10 0.00 unch 0.05 unch 3.35 + 4.43 + 0.40 unch 0.07 unch 0.09 unch 0.12 unch 0.10 0.10 unch 0.03 unch 0.01 0.01 unch 0.38 0.50 0.05 0.04 0.02 unch 0.07 + 0.09 unch 0.10 unch 0.12 0.00 unch 1.43 + 1.88 + 0.05 0.08 + 10.49 + 0.32 + 0.44 + 0.11 + 0.16 + 0.03 unch 0.03 unch 0.32 unch 2.33 3.09 1.34 + 0.30 unch 0.36 + 0.14 3.62 + 4.78 + 0.38 unch 0.04 unch 0.07 0.04 unch 7.69 5.82 0.35 unch 0.26 0.06 unch 0.06 + 0.08 + 0.07 unch 0.05 unch 0.25 + 0.30 0.23 0.41 + 0.53 + 0.67 unch 0.85 0.06 0.03 unch 0.08 + 0.09 0.13 0.99 + 0.80 0.30 7.22 5.47 0.04 0.03 + 0.46 + 0.13 0.18 + 0.16 unch 0.25 0.46 2.71 0.00 + 0.04 + 0.04 0.10 + 0.13 unch 0.27 0.36 0.10 + 0.01 unch 0.02 unch 0.08 0.12 0.03 0.05 + 0.08 0.01 unch 0.01 unch 0.22 + 0.13 unch 12.00 + 9.11 + 0.08 49.84 65.85 0.20 0.25 0.06 + 0.08 + 1.92 0.24 0.34 + 0.32 +

0.00 0.01 0.17 0.16 0.01 0.00 0.01 0.01 0.01 0.00 0.00 0.04 0.00 0.02 0.00 0.03 0.00 0.05 0.01 0.01 0.00 0.02 0.01 0.01 0.02 0.01 0.01 0.01 0.03 0.00 0.03 0.00 0.00 0.06 0.09 0.00 0.00 0.00 0.00 0.03 0.00 0.00 0.00 0.00 0.01 0.05 0.01 0.00 0.00 0.01 0.00 0.00 0.01 0.00 0.02 0.05 0.02 0.01 0.77 0.02 0.05 0.00 0.02 0.00 0.00 0.00 0.07 0.04 0.32 0.00 0.04 0.01 0.01 0.02 0.00 0.00 0.01 0.00 0.46 0.40 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.05 0.02 0.00 0.06 0.08 0.00 0.05 0.01 0.00 0.00 0.03 0.01 0.01 0.09 0.05 0.12 0.13 0.01 0.00 0.06 0.02 0.01 0.00 0.04 0.07 0.14 0.00 0.00 0.01 0.00 0.00 0.01 0.02 0.01 0.00 0.00 0.02 0.01 0.00 0.01 0.02 0.00 0.00 0.05 0.00 0.06 0.01 0.02 1.33 1.32 0.00 0.01 0.00 0.01 0.28 0.00 0.01 0.03

0.06 0.05 7.07 5.35 0.14 0.11 0.15 0.44 0.47 0.04 0.18 1.00 0.73 0.60 0.47 1.25 10.60 3.56 2.75 0.11 0.67 0.86 0.08 0.17 0.13 0.15 0.10 0.14 0.63 0.00 0.25 0.03 0.09 5.50 5.90 0.45 0.07 0.25 0.33 0.18 0.13 0.06 0.02 0.02 0.53 0.74 0.07 0.05 0.03 0.08 0.11 0.15 0.23 0.00 2.27 3.07 0.07 0.10 32.90 0.78 1.11 0.15 0.21 0.04 0.03 0.50 3.48 4.60 1.44 1.03 1.40 0.85 4.66 6.08 0.40 0.23 0.30 0.08 9.20 7.05 0.45 0.34 0.25 0.09 0.14 0.09 0.06 0.44 0.35 0.26 5.24 0.65 0.70 0.91 0.40 0.04 0.09 0.20 0.31 1.50 0.96 0.65 8.50 6.50 0.08 0.06 0.50 0.17 0.22 0.30 0.33 1.28 3.57 0.00 0.06 0.08 0.15 0.18 0.37 0.47 0.12 0.04 0.03 0.14 0.19 0.04 0.05 0.23 0.01 0.03 0.22 0.15 13.59 10.32 0.15 57.69 76.43 0.29 0.39 0.07 0.09 2.51 0.34 0.54 0.46

0.02 0.01 2.00 1.44 0.01 0.02 0.04 0.04 0.04 0.01 0.04 0.14 0.10 0.08 0.06 0.22 4.60 0.99 0.70 0.03 0.01 0.16 0.02 0.03 0.01 0.06 0.01 0.03 0.40 0.00 0.03 0.00 0.03 3.06 1.53 0.16 0.06 0.08 0.11 0.07 0.05 0.01 0.00 0.01 0.02 0.10 0.03 0.02 0.01 0.01 0.01 0.05 0.07 0.00 0.33 0.43 0.02 0.02 6.00 0.13 0.17 0.05 0.07 0.01 0.01 0.30 1.02 1.45 0.23 0.14 0.21 0.03 1.35 1.80 0.20 0.02 0.04 0.01 1.05 0.50 0.19 0.12 0.01 0.02 0.03 0.01 0.00 0.14 0.11 0.05 0.24 0.18 0.21 0.31 0.04 0.01 0.03 0.06 0.12 0.20 0.11 0.07 1.55 1.12 0.03 0.02 0.13 0.07 0.06 0.03 0.09 0.04 2.45 0.00 0.02 0.02 0.06 0.10 0.02 0.03 0.01 0.00 0.01 0.02 0.01 0.00 0.01 0.06 0.00 0.01 0.07 0.05 4.00 2.72 0.05 18.03 25.67 0.10 0.14 0.01 0.02 0.12 0.05 0.05 0.08

I-J-K 0.00 0.00 5.15 3.90 0.05 0.09 0.12 0.25 0.14 0.00 0.12 0.00 0.11 0.12 0.09 0.97 8.64 2.92 2.16 0.09 0.37 0.53 0.00 0.13 0.10 0.00 0.06 0.06 0.40 0.00 0.09 0.00 0.00 3.31 4.29 0.00 0.07 0.09 0.00 0.10 0.08 0.03 0.01 0.01 0.38 0.50 0.05 0.03 0.02 0.06 0.08 0.10 0.00 0.00 1.35 1.77 0.05 0.06 9.37 0.29 0.38 0.10 0.14 0.00 0.03 0.30 2.14 2.84 1.01 0.30 0.00 0.11 3.38 4.58 0.38 0.04 0.07 0.04 7.63 5.58 0.34 0.25 0.06 0.05 0.07 0.06 0.00 0.20 0.30 0.18 0.35 0.46 0.67 0.85 0.06 0.03 0.08 0.09 0.12 0.60 0.72 0.30 6.85 5.29 0.00 0.00 0.00 0.13 0.16 0.00 0.25 0.39 2.70 0.00 0.03 0.03 0.09 0.12 0.23 0.35 0.09 0.01 0.01 0.08 0.00 0.03 0.04 0.08 0.01 0.01 0.14 0.13 11.53 8.77 0.00 49.25 64.69 0.17 0.24 0.05 0.07 1.84 0.24 0.31 0.28

/ OCTOBER 2 6 â&#x20AC;&#x201C; N OV EM BER 3 , 2 0 2 0

(100s) Stock

Exc Volume

Week High

Low 0.36 0.31 0.00 0.92 1.25 0.15 1.26 0.96 0.01 0.01

Kootenay Silvr Kootenay Zinc Kootenay Zinc* Kore Mining * Kore Mining Kutcho Copper * Kuya Silver Kuya Silver* KWG Res KWG Res*

V C O O V O C O C O

3371 65 0 81 594 100 1606 303 1539 500

0.46 0.37 0.00 1.07 1.40 0.18 1.51 1.12 0.01 0.01

Labrador Gold* Labrador Gold Labrador IMH* Labrador IOR* Labrador IOR Lake Resources* Lara Expl Laramide Res Laredo Res* Largo Res* Largo Res Lasalle Explor* Lasalle Explor Latin American Latin American* Latin Metals* Latin Metals Laurion Mnl Ex* Laurion Mnl Ex Leading Edge* Leading Edge Leeta Gold Legion Metals Leo Res* Lepanto Con Mg* Libero Copper* Libero Copper Liberty Gold* Lida Resources* Lido Minerals Lightspeed Dis Lightspeed Dis* Lincoln Mng Lion One Mtls Lion One Mtls* Lithium Amer Lithium Amer* Lithium Chile Lithium Chile* Lithium Corp* Lithium Energi* Lithium Energi Lithoquest Dia LKA Gold* Lode-Star Mg* Logan Res* Logan Res Lomiko Mtls Lomiko Mtls* Loncor Res* Loncor Res Lone Star Gold* Los Andes* Los Andes Lovitt Res Lovitt Res* Lucara Diam Lucky Min* Lucky Min Luckystrike * Luckystrike Lumina Gold* Lumina Gold Luminex Res Lundin Gold Lundin Mng* Lundin Mng Lupaka Gold * Lupaka Gold Lydian Intl* Lynas Corp* Lynas Corp*

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

319 2797 256 6 905 833 78 921 2820 599 1277 181 361 8118 962 17 169 49 1030 138 182 8966 946 0 8929 148 413 725 1583 15 1 1 1982 788 460 2715 17976 1943 614 1834 29 104 266 3 4 1 211 1616 1176 4 277 7 99 101 40 23 760 35 170 50 53 199 426 42 1303 668 7069 2 1228 983 497 201

0.40 0.46 0.01 20.24 27.09 0.06 0.69 0.26 0.00 0.83 1.05 0.11 0.14 0.08 0.06 0.10 0.12 0.16 0.23 0.19 0.22 0.47 0.20 0.00 0.00 0.11 0.15 1.58 0.08 0.24 0.00 0.20 0.20 1.82 1.39 19.55 14.40 0.17 0.17 0.24 0.07 0.08 0.07 0.19 0.09 0.07 0.17 0.06 0.04 0.49 0.62 1.14 3.19 4.90 0.24 0.13 0.51 0.10 0.14 0.37 0.58 0.69 0.89 0.86 12.69 5.97 7.88 0.04 0.05 0.03 2.00 2.00

Macarthur Min Macarthur Min* MacDonald Mns* MacDonald Mns MAG Silver Magellan Gold* Magna Gold Magna Gold* Magna Terra* Magna Terra Magnum Goldco Majestic Gold Majestic Gold* Major Precious Makara Mining* Makara Mining Makena Res* Mako Mining* Mako Mining Mammoth Res Mandalay Res Mandalay Res* Manganese X* Manganese X Mangazeya Mng Mangazeya Mng* Manitou Gold * Manitou Gold Maple Gold Maple Gold* Marathon Gold* Marathon Gold Margaret Lake Marifil Mines Marifil Mines* Marimaca Cop* Marimaca Cop Mariner Res* Maritime Res Martina Mnls MartinMarietta* Mas Gold Mascota Res* Mason Graphite* Mason Graphite Matachewan Con Matica Ent Maverix Metals Maverix Metals* Mawson Res* Mawson Res MAX Res MaxTech Vent MaxTech Vent* Maxwell Res* Maya Gold &Sil* Mazarin McEwen Mng McEwen Mng* McLaren Res MDN Inc* Mechel* Medallion Res Medallion Res* Medgold Res* Medgold Res Medinah Mnrls* Mega Copper Mega Uranium Mega Uranium* Megastar Dev Megastar Dev* MegumaGold MegumaGold* Melior Res Melkior Res Melkior Res* Mensa Mng Corp* Meridian Mg Meridian Mg * Meryllion Res* Meryllion Res MetalCorp* MetalCorp Metalex Vent Metalex Vent * Metalla Rylty Metallic Mnrls Metallic Mnrls* Metallica Min* Metallis Res Metalo Manuf

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

706 49 563 1519 956 16 108 64 30 187 16 88 49 727 1546 1787 44 435 628 301 107 51 857 2491 53 5 234 1104 12782 8166 234 2434 75 116 51 4 90 29 1491 180 3129 138 0 693 865 2 480 370 917 308 2035 1256 471 69 0 49 17 1139 11807 192 36 391 336 608 14 357 776 5 837 443 78 30 1194 609 57 53 25 0 79 2 2 548 25 712 92 12 172 890 498 63 126 21

0.60 0.44 0.09 0.11 24.73 1.19 1.35 1.07 0.18 0.23 0.06 0.07 0.05 0.28 0.92 1.14 0.57 0.32 0.42 0.06 1.77 1.33 0.30 0.40 0.08 0.05 0.05 0.06 0.36 0.28 1.77 2.28 0.03 0.06 0.05 2.67 3.54 0.42 0.16 0.05 275.11 0.08 2.00 0.23 0.28 0.00 0.03 7.78 6.00 0.39 0.52 0.32 0.08 0.06 0.00 2.21 0.14 1.53 1.17 0.08 0.63 1.52 0.33 0.27 0.05 0.06 0.00 0.14 0.14 0.11 0.13 0.09 0.15 0.11 0.06 0.92 0.71 0.00 0.24 0.19 0.00 0.01 0.02 0.03 0.05 0.03 11.62 0.81 0.61 0.02 0.44 0.24

12-month

Last

Change

0.40 + 0.31 0.26 unch 0.95 1.26 0.17 + 1.37 1.03 0.01 + 0.01 unch

High Low

0.04 0.05 0.00 0.07 0.07 0.00 0.03 0.05 0.01 0.00

0.54 3.00 1.24 1.48 1.96 0.27 1.75 1.19 0.01 0.01

0.12 0.30 0.17 0.09 0.15 0.03 0.45 0.32 0.01 0.00

+ + + unch + + + + unch + + unch unch unch unch + + unch + unch unch unch + unch unch unch + + + + unch + -

0.01 0.02 0.00 0.49 0.73 0.00 0.01 0.01 0.00 0.04 0.05 0.00 0.02 0.01 0.01 0.02 0.00 0.02 0.02 0.01 0.02 0.02 0.01 0.00 0.00 0.01 0.01 0.09 0.01 0.00 0.00 0.00 0.04 0.04 0.06 3.12 2.44 0.02 0.02 0.03 0.01 0.01 0.00 0.04 0.00 0.00 0.00 0.01 0.00 0.05 0.04 0.00 0.00 0.06 0.09 0.01 0.01 0.00 0.01 0.00 0.10 0.03 0.06 0.06 0.31 0.03 0.09 0.00 0.02 0.01 0.03 0.05

0.50 0.63 0.20 21.78 28.95 0.32 1.02 0.37 0.01 1.10 1.43 0.16 0.22 0.08 0.06 0.11 0.15 0.18 0.24 0.25 0.34 0.58 0.45 0.15 0.00 0.16 0.22 1.82 0.20 0.30 0.33 0.25 0.28 2.66 2.00 22.47 16.97 0.43 0.33 0.33 0.14 0.24 0.08 0.20 0.28 18.09 0.90 0.07 0.05 0.64 0.89 2.33 3.19 4.90 0.27 0.20 1.15

0.09 0.10 0.00 9.71 13.25 0.02 0.44 0.10 0.00 0.40 0.56 0.10 0.08 0.01 0.00 0.04 0.05 0.09 0.09 0.03 0.01 0.08 0.14 0.01 0.00 0.02 0.03 0.38 0.07 0.19 0.08 0.07 0.05 0.72 0.50 2.90 1.92 0.10 0.07 0.05 0.01 0.03 0.03 0.04 0.03 0.00 0.06 0.02 0.01 0.22 0.32 0.15 2.66 1.95 0.12 0.09 0.40

0.27 0.43 0.58 0.91 1.19 1.08 13.49 6.59 8.59 0.04 0.05 0.09 1.99 1.95

0.08 0.10 0.13 0.29 0.46 0.41 5.82 2.82 4.08 0.00 0.01 0.00 0.58 0.55

0.49 0.59 + 0.37 0.43 + 0.07 0.08 + 0.10 0.11 + 22.88 23.27 1.00 1.15 + 1.24 1.26 0.96 0.97 0.18 0.18 unch 0.21 0.21 0.06 0.06 unch 0.07 0.07 0.05 0.05 0.22 0.22 0.80 0.86 + 1.05 1.14 + 0.50 0.52 0.29 0.31 0.38 0.40 0.05 0.05 unch 1.45 1.72 + 1.13 1.31 + 0.23 0.25 0.30 0.35 0.00 0.08 unch 0.05 0.05 + 0.04 0.05 0.05 0.06 + 0.21 0.35 + 0.17 0.27 + 1.60 1.71 2.10 2.25 unch 0.03 0.03 unch 0.06 0.06 0.04 0.05 + 2.60 2.67 + 3.41 3.50 unch 0.38 0.41 + 0.14 0.15 0.05 0.05 unch 254.19 258.97 0.07 0.07 2.00 2.00 + 0.16 0.18 0.22 0.24 0.00 0.14 unch 0.03 0.03 unch 6.93 7.28 + 5.40 5.49 + 0.31 0.36 + 0.40 0.48 + 0.29 0.30 0.06 0.08 + 0.04 0.05 + 0.00 0.07 unch 1.99 2.21 + 0.11 0.11 + 1.40 1.40 1.06 1.08 0.00 0.07 0.50 0.50 1.39 1.43 0.30 0.32 + 0.22 0.24 + 0.05 0.05 + 0.06 0.06 unch 0.00 0.00 0.14 0.14 unch 0.12 0.13 0.09 0.09 0.12 0.13 + 0.00 0.09 0.13 0.13 0.09 0.11 + 0.05 0.05 unch 0.86 0.86 0.66 0.68 0.00 0.00 unch 0.20 0.21 unch 0.19 0.19 unch 0.00 0.00 + 0.01 0.01 0.02 0.02 unch 0.03 0.03 + 0.04 0.04 unch 0.03 0.03 unch 10.09 10.94 + 0.67 0.74 + 0.56 0.57 + 0.02 0.02 unch 0.36 0.38 0.24 0.24 unch

0.09 0.06 0.01 0.01 0.88 0.02 0.09 0.04 0.00 0.01 0.00 0.01 0.01 0.05 0.02 0.05 0.02 0.00 0.02 0.00 0.22 0.14 0.04 0.03 0.00 0.00 0.00 0.01 0.13 0.09 0.01 0.00 0.00 0.01 0.01 0.06 0.00 0.03 0.01 0.00 14.13 0.01 0.25 0.02 0.02 0.00 0.00 0.23 0.10 0.03 0.04 0.03 0.02 0.01 0.00 0.16 0.01 0.13 0.09 0.01 0.07 0.05 0.01 0.00 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.01 0.01 0.00 0.00 0.02 0.01 0.00 0.00 0.00 0.00 0.01 0.00 0.01 0.00 0.00 0.08 0.01 0.02 0.00 0.06 0.00

L 0.32 0.42 0.01 0.00 24.79 0.04 0.00 0.24 0.00 0.73 0.96 0.00 0.00 0.05 0.04 0.00 0.11 0.14 0.20 0.14 0.19 0.40 0.17 0.00 0.00 0.10 0.13 1.48 0.05 0.24 0.00 0.20 0.16 1.66 1.25 15.73 11.92 0.13 0.10 0.18 0.05 0.08 0.06 0.19 0.09 0.07 0.13 0.05 0.03 0.43 0.54 0.00 3.05 4.30 0.16 0.12 0.48 0.00 0.00 0.34 0.49 0.61 0.82 0.80 11.65 5.49 7.49 0.04 0.04 0.02 1.87 1.79

0.32 0.42 0.01 20.09 26.46 0.05 0.66 0.25 0.00 0.73 0.96 0.10 0.14 0.06 0.04 0.10 0.12 0.16 0.22 0.14 0.20 0.41 0.18 0.10 0.00 0.10 0.13 1.48 0.07 0.24 0.26 0.20 0.20 1.71 1.30 15.82 12.00 0.15 0.11 0.19 0.05 0.08 0.07 0.19 0.09 0.07 0.15 0.05 0.04 0.44 0.57 1.02 3.05 4.80 0.16 0.12 0.49 0.10 0.12 0.37 0.49 0.62 0.82 0.86 12.41 5.89 7.76 0.04 0.05 0.02 1.92 1.86

M 0.67 0.07 0.50 0.04 0.17 24.73 1.84 1.89 1.46 0.18 0.48 0.08 0.08 0.06 0.82 1.27 1.65 0.74 0.50 0.54 0.07 2.12 1.65 0.85 1.11 0.13 0.09 0.07 0.08 0.36 0.27 2.00 2.62 0.09 0.11 0.08 2.67 3.70 0.46 0.23 0.05 281.82 0.14 3.80 0.28 0.36 0.18 0.05 7.78 6.00 0.44 0.57 0.39 0.12 0.09 0.09 2.15 0.18 2.33 1.77 0.18 0.63 3.43 0.41 0.31 0.06 0.08 0.00 0.29 0.15 0.12 0.20 0.14 0.21

0.05 5.33 0.20 0.24 0.02 0.18 0.21 0.03 0.04 0.02 0.13 0.63 0.50 0.22 0.14 0.18 0.02 0.46 0.38 0.04 0.06 0.04 0.02 0.02 0.02 0.04 0.03 0.52 0.71 0.02 0.03 0.02 0.03 1.00 0.37 0.05 0.05 135.08 0.03 0.51 0.08 0.12 0.10 0.02 3.10 2.51 0.10 0.13 0.06 0.03 0.02 0.06 0.65 0.04 0.76 0.53 0.01 0.14 1.28 0.05 0.03 0.02 0.03 0.00 0.02 0.05 0.03 0.05 0.05 0.09

0.08 0.01 1.25 0.06 1.00 0.01 0.39 0.26 0.00 0.02 0.03 0.05 0.07 0.04 13.47 1.30 0.94 0.02 0.64 0.30

0.05 0.03 0.00 0.01 0.00 0.01 0.02 0.01 4.06 0.10 0.07 0.01 0.11 0.07

OCTOBER 2 6 – N OV EM BER 3 , 2 0 2 0

/ TH E N OR TH ER N

M I N ER

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

Exc Volume

Week Low

2.65 2.65 unch 2.06 2.06 unch 0.04 0.06 + 0.06 0.07 + 0.05 0.05 unch 0.00 0.24 + 0.08 0.09 + 0.04 0.06 unch 0.04 0.05 + 0.06 0.06 0.28 0.28 unch 1.23 1.26 0.93 0.95 0.92 1.00 unch 0.13 0.13 0.16 0.18 + 0.20 0.21 1.06 1.17 1.43 1.56 0.10 0.11 0.14 0.14 unch 0.11 0.11 unch 0.53 0.55 0.40 0.42 0.41 0.41 0.49 0.55 0.50 0.54 0.67 0.71 + 0.13 0.14 + 0.17 0.17 0.20 0.22 0.26 0.28 0.00 17.53 0.00 0.00 + 0.06 0.06 unch 0.04 0.05 0.00 0.07 unch 0.05 0.05 0.00 0.00 unch 0.33 0.33 0.43 0.45 0.22 0.24 + 0.10 0.18 + 0.08 0.08 unch 0.10 0.10 0.37 0.38 0.13 0.16 + 0.16 0.21 + 0.35 0.35 0.46 0.46 0.11 0.12 + 0.15 0.15 0.14 0.14 unch 0.00 0.19 0.01 0.01 unch 0.01 0.01 unch 0.07 0.07 + 0.14 0.14 unch 0.15 0.16 0.08 0.09 + 0.00 0.07 0.00 0.10 unch 0.15 0.15 18.72 19.14 0.41 0.43 0.30 0.32 0.00 0.29 0.34 0.37 0.12 0.12 0.16 0.16 unch 0.07 0.07 0.00 0.07 + 0.45 0.45 +

Metalore Res Metalore Res* Metals Creek* Metals Creek Metals X* Metron Capital Mexican Gold* Mexus Gold* MGX Minerals* MGX Minerals Mich Resources Midas Gold Midas Gold* Midland Expl Midnight Star Midnight Sun* Midnight Sun Millennial Lit* Millennial Lit Millrock Res* Millrock Res Milner Con Slv Minaurum Gold Minaurum Gold* Minco Silver* Minco Silver Minera Alamos * Minera Alamos Minera IRL* Minera IRL Mineral Mtn* Mineral Mtn Mineral Res* MineralRite* Mineworx Tech Mineworx Tech* Minfocus Expl Minfocus Expl* Mining Global* Minnova Corp Mirasol Res Mistango River Mkango Res ML Gold* ML Gold Corp Mojave Gold Monarca Mnrls* Monarca Mnrls Monarch Gold* Monarch Gold Moneta Porcpn* Moneta Porcpn Monitor Vent* Monitor Vent Montego Res* Montego Res Monterey Min Montero Mg&Ex * Montero Mg&Ex Monument Mng Monument Mng* Morien Res* Morien Res Mosaic* Mountain Boy Mountain Boy* Mountain Prov* Mountain Prov Mundoro Cap* Mundoro Cap Murchison Min Murchison Min* Musgrave Min*

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

2 2 121 551 14 372 501 1755 697 631 24 1526 2514 109 897 108 353 74 128 1752 1046 14 979 506 271 660 548 2589 51 292 553 723 0 2603 783 316 164 1 604 239 194 917 145 3 163 1811 1264 2714 538 1403 477 1549 1 7 1 403 496 200 110 1478 50 10 44 14411 171 32 62 205 75 398 601 0 178

2.65 2.06 0.06 0.08 0.05 0.24 0.10 0.12 0.05 0.07 0.29 1.44 1.10 1.02 0.15 0.18 0.24 1.32 1.78 0.11 0.15 0.11 0.59 0.46 0.55 0.68 0.55 0.72 0.14 0.18 0.24 0.31 18.30 0.00 0.07 0.05 0.08 0.06 0.00 0.41 0.46 0.25 0.18 0.08 0.11 0.43 0.20 0.30 0.41 0.50 0.12 0.16 0.14 0.20 0.01 0.01 0.07 0.14 0.18 0.09 0.09 0.00 0.16 19.77 0.49 0.35 0.30 0.41 0.12 0.17 0.09 0.07 0.45

NA Frac Sand* NACCO Ind* Namibia Crit Namibia Crit* Natural Res Pt* Nautilus Mnrls* Navis Res Corp* Navy Res Neo Lithium Neometals* Network Expl* Network Expl Nevada Canyon* Nevada Copper Nevada Energy* Nevada Energy Nevada Expl * Nevada Expl Nevada Sunrise* Nevada Sunrise Nevada Zinc Nevado Res New Age Metals* New Age Metals New Carolin Gd* New Carolin Gd New Destiny Mg New Destiny Mg* New Dimen Res New Dimen Res* New Energy Met New Energy Met* New Found Gold New Gold* New Gold New Guinea Gld* New Jersey Mng* New Milln Iron* New Milln Iron New Oroperu New Pac Metals* New Pac Metals New Placer* New Placer New Stratus New Tech Min* New Tech Min New World Res* Newcore Gold Newcore Gold* Newcrest Mg Newcrest Mg* Newlox Gold Newmont Corp* Newmont Corp Newport Expl Newport Gold* NewRange Gold* NewRange Gold Nexa Resources Nexa Resources* Nexco Res Nexgen Energy Nexgen Energy* NextSource Mat Nexus Gold* Nexus Gold NGEx Minerals* NGEx Minerals Nickel Creek Nickel Creek* Nickel North Nicola Mg Inc Nicola Mg Inc* Nighthawk Gold* Nighthawk Gold Niobay Metals Niocan Inc Niocorp Dev Niocorp Dev* Nippon Dragon Nippon Dragon* Noble Metal * Noble Metal Noble Mineral Noble Mineral* Noram Vent* Noram Vent Noranda Alum* Norilsk Nickel* Noront Res* Noront Res Norra Metals Norse Gold Norseman Silv Norsemont Cap* Norsemont Cap

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

51668 53 202 151 30 139 9 44 1521 14 109 1047 108 7852 47 99 125 316 736 652 200 30 242 659 304 566 22 50 986 211 366 22 2736 22279 13082 52 1629 243 2874 10 278 410 1017 4806 180 42 452 10 900 22 7 5 1667 19772 308 57 197 663 4359 1 156 100 1904 1110 6318 494 1885 1 98 1582 311 155 887 215 20 222 944 22 235 301 102 86 15 75 622 29 53 1352 753 156 70 761 2073 0 268 595 1082

0.01 22.63 0.25 0.21 12.41 0.00 2.74 0.48 1.06 0.36 0.25 0.34 0.11 0.13 0.10 0.14 0.14 0.18 0.20 0.25 0.07 0.12 0.06 0.07 0.05 0.06 0.05 0.04 0.09 0.07 0.09 0.07 3.77 2.19 2.88 0.00 0.33 0.08 0.11 2.30 5.00 6.58 0.43 0.38 0.57 0.10 0.12 2.02 0.92 0.70 31.25 23.61 0.14 64.33 84.41 0.43 0.00 0.14 0.19 8.03 6.32 0.13 2.33 1.76 0.08 0.06 0.08 0.41 0.56 0.19 0.16 0.04 0.15 0.12 1.02 1.33 0.93 0.14 0.88 0.70 0.06 0.04 0.00 0.01 0.08 0.07 0.15 0.19 0.15 25.69 0.13 0.18 0.21 0.00 0.22 1.41 1.68

Last

12-month

High

Change

Stock

0.00 0.00 0.00 0.01 0.00 0.02 0.01 0.00 0.00 0.01 0.00 0.16 0.11 0.00 0.01 0.01 0.02 0.08 0.12 0.00 0.00 0.00 0.02 0.01 0.10 0.13 0.01 0.01 0.01 0.01 0.01 0.01 0.77 0.00 0.00 0.00 0.00 0.01 0.00 0.03 0.01 0.02 0.08 0.00 0.01 0.02 0.02 0.03 0.03 0.04 0.01 0.01 0.00 0.02 0.00 0.00 0.01 0.00 0.02 0.01 0.01 0.00 0.01 0.57 0.03 0.04 0.01 0.02 0.00 0.00 0.02 0.02 0.03

3.65 2.06 0.08 0.10 0.12 0.42 0.15 0.50 0.12 0.15 0.50 2.04 1.55 1.13 0.35 0.21 0.28 1.44 1.90 0.23 0.32 0.20 0.85 0.67 0.61 0.83 0.60 0.78 0.18 0.24 0.43 0.53 18.09 0.00 0.18 0.14 0.09 5.00 0.00 0.60 0.62 0.35 0.18 0.16 0.18 0.45 0.14 0.30 0.45 0.59 0.16 0.22 0.33 0.45 0.00 0.06 0.10 0.17 0.20 0.12 0.09 0.50 0.65 22.50 0.69 0.52 0.86 1.43 0.14 0.21 0.18 0.11 0.60

0.00 2.19 0.03 0.02 0.56 0.00 0.20 0.07 0.07 0.11 0.07 0.07 0.01 0.01 0.00 0.00 0.01 0.01 0.02 0.02 0.01 0.02 0.01 0.00 0.00 0.01 0.00 0.00 0.01 0.00 0.00 0.00 0.28 0.03 0.04 0.00 0.01 0.01 0.03 0.03 0.03 0.00 0.01 0.01 0.08 0.00 0.01 0.00 0.05 0.04 0.50 0.36 0.02 0.15 0.10 0.00 0.00 0.01 0.02 0.54 0.30 0.00 0.07 0.06 0.02 0.00 0.00 0.00 0.00 0.01 0.01 0.00 0.01 0.00 0.02 0.03 0.06 0.02 0.03 0.03 0.01 0.00 0.00 0.00 0.00 0.01 0.02 0.03 0.01 0.11 0.00 0.01 0.02 0.00 0.02 0.06 0.07

0.03 0.00 65.35 17.95 0.37 0.10

Nortec Mnls* Nortec Mnls North Am Nickl North Am Nickl* North Arrow Mn North Bay Res * North Peak Res* North Peak Res Northcliff Res Northern Light Northern Uran Northisle C&G Northisle C&G * Northstar Gold Northstar Gold* Norvista Cap NorZinc* NorZinc Nouveau Monde* Nouveau Monde NovaGold Res* NovaGold Res Novo Res* Novo Res NovX21* NQ Minerals Pl* NRG Metals* NRG Metals Nrthn Graphite Nrthn Graphite* Nrthn Lion Nrthn Mnrls &E* Nrthn Shield Nrthn Superior Nrthn Superior* Nrthn Vertex* Nrthn Vertex NSGold NSS Res Inc Nthn Dynasty Nthn Dynasty* Nthrn Sphere* Nubian Res Nuinsco Res Nuinsco Res* NuLegacy Gold NuLegacy Gold* Nutrien* Nutrien NV Gold* NV Gold O.T. Mining* O3 Mining* O3 Mining Oakley Vent OceanaGold* OceanaGold Oceanic Iron O Oceanic Iron O* Oceanus Res Oceanus Res* Odyssey Res Olivut Res* Olivut Res Omineca Mining Omineca Mining* One World Lith One World Lith* Opawica Expl Optimum Vent Optimus Gold Opus One Res Orbite Tech* Orca Gold Orca Gold* Orea Mining Orea Mining* Orefinders Res Orestone Mng Orex Mnrls* Orex Mnrls Orezone Gold Orezone Gold* Orford Mining OrganiMax* OrganiMax Origen Res Origin Gold Orla Mng Ltd* Orla Mng Ltd Oro X Mining Oro X Mining* Oroco Res* Oroco Res Orocobre Orosur Mng Orsu Metals Orsu Metals* Orvana Mnrls Orvana Mnrls* Osino Res Osisko Gold Osisko Gold* Osisko Metals Osisko Metals* Osisko Mng Inc Otso Gold Otso Gold* Outcrop Gold Outcrop Gold* OZ Minerals*

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

P2 Gold* P2 Gold Pac Bay Mnrls* Pac Bay Mnrls Pac Booker Min Pac Booker Min* Pac Cascade Pac Imperial Pac Ridge Expl Pac Ridge Expl* Pac Wildcat* Pacific Empire Pacific Rim Pacific Rim* Pacific Silk* Pacific Silk Pacton Gold Paladin Energy* Palamina Corp Palamina Corp* Palayan Res* Paleo Resource Paleo Resource* Palladium One Palladium One* Pan Am Silver* Pan Am Silver Pan Global Res* Pan Global Res Pancontinental* Pancontinental Panex Res* Pangolin Dia Panoro Mnrls Panoro Mnrls* Pantheon Vent Para Resources Parallel Mng Paramount Gold* Paringa Res* Parlane Res Pasinex Res Pasofino Gold* Pasofino Gold Patriot Gold Patriot Gold* Peabody Enrgy* Pedro Res Pelangio Expl* Pelangio Expl Peloton Mnrls Peloton Mnrls* PepinNini Lith* Perseus Mng Pershimex Res Pershing Res* Peruvian Metal* Peruvian Metal Philex Mng*

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

1.00 0.81 0.02 0.03 0.03 0.15 0.01 0.04 0.02 0.04 0.10 0.24 0.16 0.46 0.10 0.04 0.03 0.38 0.61 0.06 0.09 0.02 0.22 0.16 0.14 0.20 0.11 0.16 0.07 0.05 0.14 0.20 9.83 0.00 0.06 0.04 0.02 0.01 0.00 0.05 0.29 0.02 0.05 0.06 0.08 0.03 0.01 0.02 0.07 0.11 0.04 0.06 0.08 0.12 0.00 0.01 0.02 0.02 0.01 0.04 0.02 0.06 0.08 6.50 0.14 0.09 0.17 0.25 0.06 0.09 0.04 0.04 0.32

N-O 0.00 19.14 0.21 0.16 11.59 0.00 0.00 0.41 0.92 0.05 0.17 0.23 0.08 0.11 0.00 0.12 0.12 0.15 0.14 0.19 0.05 0.10 0.04 0.06 0.04 0.05 0.05 0.04 0.08 0.00 0.09 0.07 2.95 2.00 2.61 0.00 0.28 0.07 0.08 2.20 4.45 6.06 0.24 0.31 0.00 0.09 0.10 1.04 0.84 0.65 29.75 0.00 0.11 61.63 80.98 0.00 0.00 0.09 0.13 7.25 5.62 0.13 2.17 1.65 0.06 0.05 0.07 0.41 0.54 0.16 0.13 0.00 0.13 0.10 0.00 1.27 0.62 0.00 0.83 0.62 0.05 0.03 0.00 0.01 0.08 0.06 0.12 0.15 0.02 24.95 0.11 0.16 0.17 0.00 0.20 1.17 1.55

0.00 22.26 0.24 0.18 12.31 0.00 2.54 0.48 0.96 0.05 0.25 0.31 0.10 0.11 0.09 0.12 0.13 0.17 0.17 0.23 0.06 0.10 0.05 0.07 0.04 0.06 0.05 0.04 0.09 0.07 0.09 0.07 3.28 2.06 2.71 0.00 0.31 0.07 0.11 2.20 4.84 6.40 0.27 0.34 0.49 0.09 0.12 1.48 0.87 0.65 29.75 22.52 0.14 62.67 82.60 0.40 0.00 0.12 0.15 7.25 5.64 0.13 2.20 1.67 0.07 0.06 0.08 0.41 0.55 0.18 0.14 0.04 0.13 0.10 0.98 1.27 0.66 0.14 0.84 0.63 0.06 0.04 0.00 0.01 0.08 0.07 0.12 0.16 0.03 25.30 0.13 0.17 0.19 0.10 0.20 1.21 1.58

+ + + + + + + + + + unch + + + unch + unch unch + unch + + + + + unch + + + + unch + + unch + unch unch unch + + unch + + unch unch unch unch + + + + unch -

(100s)

High Low

27.37 8.50 3.44 0.48 1.23 0.40 0.35 0.41 0.40 0.38 0.11 0.15 0.30 0.39 0.25 0.31 0.08 0.15 0.11 0.15

0.92 0.12 0.38 0.08 0.06 0.08 0.03 0.11 0.02 0.04 0.08 0.12 0.01 0.01 0.03 0.07 0.02 0.03

0.14 0.08 0.04 0.10 0.08 0.15 0.20 3.77 2.22 2.95 0.13 0.39 0.06 0.10 2.95 5.60 7.23 0.80 0.95 0.62 0.10 0.15 1.90 0.92 0.70 31.25 26.42 0.19 72.22 96.45 0.45 0.01 0.31 0.43 14.33 10.98 0.16 2.64 2.04 0.08 0.12 0.14 0.50 0.69 0.33 0.24 0.10 0.21 0.14 2.20 2.90 0.93 0.28 1.02 0.78 0.09 0.06 0.00 0.03 0.14 0.10 0.17 0.27

0.03 0.02 0.03 0.02 0.02 0.02 0.00 1.24 0.39 0.55 0.00 0.12 0.03 0.04 0.45 1.68 2.34 0.05 0.25 0.03 0.09 0.02 0.36 0.14 0.09 29.76 11.59 0.03 33.00 44.00 0.25 0.00 0.05 0.07 3.94 2.57 0.06 0.76 0.50 0.02 0.01 0.03 0.16 0.24 0.02 0.02 0.01 0.04 0.04 0.26 0.97 0.20 0.10 0.53 0.38 0.01 0.01 0.00 0.01 0.03 0.02 0.04 0.05

35.52 0.17 0.23 0.21 0.17 0.30 2.21 2.79

18.62 0.08 0.12 0.02 0.02 0.04 0.20 0.25

Exc Volume

(100s) Stock

Week High

Low

200 227 160 87 503 11876 8 88 195 387 400 1280 39 721 97 59 349 1122 545 4017 4754 1252 619 895 2 89 151 103 206 340 13 154 5236 347 37 808 1216 5 788 3565 33379 0 372 456 15 2584 1148 4603 9091 429 746 25 37 471 220 1 10860 88 107 1496 105 277 30 91 534 433 107 22 219 20 1 165 22 950 130 954 826 1469 1062 157 668 1132 288 632 2 53 522 83 301 2051 1116 5 684 674 196 5130 13 27 185 55 164 2338 3861 992 73 3469 1585 143 2045 911 2

0.02 0.03 0.24 0.20 0.06 0.00 0.47 0.64 0.04 0.08 0.01 0.22 0.14 0.34 0.26 0.14 0.08 0.10 0.32 0.40 11.43 15.05 2.78 3.62 0.00 0.12 0.30 0.39 0.28 0.25 0.45 0.05 0.07 0.61 0.45 0.57 0.72 0.43 0.05 1.59 1.24 0.00 0.58 0.01 0.01 0.16 0.13 41.28 54.25 0.31 0.40 0.05 3.88 3.68 0.20 1.52 2.11 0.20 0.18 0.62 0.47 0.04 0.07 0.07 0.41 0.33 0.09 0.07 0.14 0.45 0.00 0.09 0.00 0.60 0.45 0.15 0.11 0.19 0.07 0.20 0.23 1.00 0.75 0.18 0.09 0.13 0.18 0.26 4.69 6.15 0.90 0.68 1.04 1.30 2.74 0.68 0.32 0.25 0.30 0.23 1.40 16.49 12.56 0.42 0.32 3.81 0.06 0.05 0.54 0.43 10.69

0.02 0.03 0.18 0.12 0.06 0.00 0.36 0.53 0.04 0.07 0.01 0.15 0.11 0.27 0.21 0.13 0.06 0.08 0.25 0.32 10.89 14.42 2.57 3.37 0.00 0.09 0.19 0.00 0.25 0.19 0.43 0.04 0.05 0.52 0.41 0.46 0.61 0.00 0.04 1.35 1.03 0.00 0.41 0.01 0.01 0.14 0.11 39.09 51.72 0.22 0.28 0.04 2.30 2.93 0.16 1.52 1.99 0.19 0.15 0.57 0.43 0.04 0.04 0.05 0.38 0.29 0.08 0.06 0.13 0.00 0.00 0.06 0.00 0.53 0.38 0.12 0.09 0.17 0.06 0.15 0.20 0.88 0.66 0.15 0.00 0.08 0.14 0.00 4.11 5.41 0.70 0.67 0.90 1.23 2.44 0.28 0.00 0.23 0.28 0.20 1.32 15.47 11.77 0.38 0.30 3.54 0.05 0.03 0.41 0.31 10.56

53 178 0 0 10 6 16 6687 45 3 11 124 52 22 16 43 266 1334 123 29 215 784 854 30496 2346 9162 1962 18 485 38 524 316 702 263 38 91 64 180 403 5 63 226 34 144 175 420 11918 277 96 152 319 194 32 150 814 194 222 397 278

0.34 0.45 0.00 0.00 1.60 1.35 0.15 0.05 0.07 0.05 0.00 0.11 0.60 0.48 0.01 0.02 1.44 0.10 0.28 0.20 1.00 0.02 0.01 0.25 0.49 34.68 45.47 0.51 0.70 0.08 0.11 0.00 0.03 0.13 0.12 0.07 0.59 0.15 1.30 0.03 0.07 0.02 0.15 0.22 0.19 0.12 2.05 0.14 0.14 0.19 0.12 0.09 0.14 1.38 0.06 0.02 0.04 0.06 0.10

Last

12-month Change

High Low

0.02 unch 0.03 unch 0.22 + 0.17 + 0.06 unch 0.00 unch 0.39 0.53 0.04 + 0.08 unch 0.01 unch 0.18 + 0.14 + 0.28 0.21 0.13 0.07 0.09 unch 0.27 + 0.35 unch 11.00 14.53 2.64 + 3.46 + 0.00 unch 0.09 0.25 + 0.32 + 0.28 + 0.20 + 0.45 unch 0.05 + 0.06 unch 0.58 0.43 0.51 + 0.65 + 0.43 0.05 1.38 1.05 0.02 unch 0.41 0.01 unch 0.01 unch 0.16 unch 0.12 40.22 52.98 0.29 + 0.38 + 0.05 2.45 + 3.13 + 0.17 1.52 unch 2.00 0.20 0.16 + 0.59 0.45 0.04 unch 0.07 + 0.06 + 0.39 0.30 0.08 unch 0.07 0.14 0.45 unch 0.15 unch 0.09 + 0.00 unch 0.58 + 0.42 0.13 0.10 0.18 0.06 0.16 0.21 0.89 0.68 0.16 0.09 + 0.13 + 0.15 0.26 + 4.13 5.45 0.87 + 0.68 unch 0.96 1.26 2.51 0.56 + 0.30 0.23 0.28 0.22 + 1.36 15.86 12.01 0.39 0.30 3.56 0.06 unch 0.05 + 0.42 0.32 10.56 +

0.00 0.00 0.03 0.03 0.00 0.00 0.10 0.07 0.01 0.00 0.00 0.03 0.02 0.02 0.02 0.01 0.00 0.00 0.00 0.00 0.40 0.42 0.03 0.01 0.00 0.03 0.04 0.04 0.03 0.01 0.00 0.00 0.00 0.02 0.00 0.03 0.03 0.01 0.01 0.16 0.13 0.00 0.16 0.00 0.00 0.00 0.00 0.79 0.82 0.05 0.07 0.00 0.15 0.11 0.03 0.00 0.10 0.01 0.00 0.01 0.00 0.00 0.02 0.01 0.02 0.02 0.00 0.00 0.01 0.00 0.00 0.02 0.00 0.03 0.01 0.02 0.01 0.01 0.01 0.01 0.01 0.07 0.06 0.01 0.04 0.05 0.01 0.01 0.41 0.51 0.09 0.00 0.02 0.04 0.15 0.28 0.02 0.02 0.01 0.01 0.03 0.59 0.54 0.01 0.02 0.23 0.00 0.00 0.05 0.05 0.61

0.03 0.05 0.30 0.33 0.08 0.00 3.00 1.38 0.07 0.11 0.02 0.22 0.13 0.55 0.38 0.19 0.09 0.12 0.33 0.43 12.85 18.00 3.30 4.16 0.00 0.13 0.37 0.66 0.35 0.28 0.45 0.25 0.18 0.99 0.76 0.56 0.72 0.69 0.15 3.28 2.49 0.05 0.69 0.02 0.03 0.24 0.19 50.78 66.74 0.38 0.48 0.10 2.39 3.68 0.25 2.86 4.01 0.24 0.18 0.70 0.52 0.06 0.08 0.09 0.75 0.55 0.15 0.12 0.24 0.45 0.15 0.12 0.16 0.70 0.54 0.25 0.18 0.26 0.28 0.24 0.31 1.27 1.01 0.24 0.13 0.14 0.27 0.37 5.36 7.51 0.90 0.45 1.04 1.32 3.52 0.60 0.45 0.33 0.32 0.26 1.65 17.50 13.31 0.57 0.42 4.85 0.11 0.08 0.88 0.66 10.86

0.00 0.01 0.06 0.05 0.03 0.00 0.16 0.30 0.02 0.02 0.01 0.01 0.01 0.19 0.22 0.04 0.01 0.02 0.09 0.13 4.65 6.40 1.00 1.41 0.00 0.05 0.04 0.24 0.06 0.04 0.10 0.02 0.05 0.07 0.05 0.11 0.15 0.06 0.03 0.50 0.35 0.00 0.07 0.01 0.00 0.03 0.02 23.85 34.80 0.05 0.07 0.02 0.64 1.06 0.12 0.81 1.16 0.04 0.04 0.04 0.03 0.02 0.02 0.03 0.05 0.03 0.03 0.02 0.05 0.15 0.01 0.02 0.00 0.20 0.15 0.09 0.06 0.04 0.03 0.03 0.04 0.22 0.14 0.02 0.03 0.04 0.13 0.05 1.10 1.42 0.23 0.17 0.05 0.20 1.60 0.03 0.10 0.09 0.11 0.09 0.43 6.35 4.65 0.24 0.17 1.67 0.02 0.02 0.08 0.06 3.48

0.31 0.34 0.37 0.37 0.00 0.04 unch 0.00 0.17 unch 0.00 1.52 + 1.15 1.16 0.11 0.12 unch 0.03 0.04 unch 0.00 0.07 + 0.00 0.05 + 0.00 0.00 unch 0.10 0.11 unch 0.00 0.59 0.36 0.46 + 0.01 0.01 unch 0.02 0.02 unch 1.29 1.36 0.08 0.09 0.22 0.25 + 0.00 0.19 + 0.45 0.65 0.01 0.02 unch 0.01 0.01 0.15 0.21 + 0.14 0.16 + 32.75 32.88 43.03 43.40 0.00 0.42 0.54 0.57 0.07 0.08 + 0.10 0.11 + 0.00 0.00 unch 0.03 0.03 + 0.12 0.12 0.08 0.08 0.06 0.07 + 0.00 0.56 + 0.13 0.15 unch 1.21 1.22 0.02 0.02 unch 0.06 0.07 unch 0.01 0.01 0.13 0.13 0.18 0.20 unch 0.14 0.19 + 0.10 0.11 + 1.60 1.65 0.11 0.13 + 0.14 0.14 0.17 0.17 0.11 0.12 + 0.08 0.09 0.11 0.11 1.28 1.31 0.05 0.06 + 0.01 0.02 + 0.04 0.04 0.05 0.05 unch 0.06 0.07 +

0.00 0.06 0.00 0.00 0.02 0.19 0.00 0.00 0.01 0.00 0.00 0.00 0.01 0.01 0.00 0.00 0.03 0.01 0.02 0.01 0.29 0.00 0.00 0.04 0.03 1.30 1.46 0.07 0.09 0.01 0.01 0.00 0.01 0.01 0.02 0.01 0.01 0.00 0.04 0.00 0.00 0.01 0.00 0.00 0.05 0.01 0.39 0.01 0.00 0.02 0.01 0.00 0.03 0.07 0.01 0.00 0.00 0.00 0.01

0.59 0.90 0.08 0.19 2.97 2.07 0.16 0.08 0.09 0.07 0.01 0.21 0.63 0.53 0.03 0.03 1.81 0.14 0.34 0.26 1.82 0.05 0.04 0.25 0.20 40.11 53.30 0.56 0.72 0.20 0.13 0.00 0.08 0.17 0.13 0.09 1.90 0.23 1.48 0.19 0.10 0.04 0.31 0.42 0.19 0.14 16.75 0.19 0.20 0.27 0.12 0.09 0.15 1.52 0.10 0.06 0.06 0.08 0.10

0.10 0.05 0.03 0.05 1.12 0.84 0.03 0.01 0.03 0.02 0.00 0.02 0.09 0.06 0.00 0.01 0.35 0.03 0.09 0.06 0.25 0.01 0.00 0.05 0.03 10.61 14.22 0.05 0.06 0.01 0.02 0.00 0.02 0.07 0.04 0.01 0.10 0.10 0.47 0.00 0.02 0.01 0.03 0.04 0.05 0.02 1.60 0.09 0.08 0.11 0.04 0.03 0.00 0.45 0.02 0.00 0.01 0.03 0.02

P-Q

Exc Volume

Phoenix Global* O Phoenix Gold V Pine Cliff En* O Pine Cliff En T Pistol Bay Mng* O Pistol Bay Mng V Pivit Explor C PJSC Polyus Gd* O PJX Res V Plata Latina V Plate Res V Plateau Energy V Plateau Energy* O Platinex Inc* O Platinex Inc C Platinum Gp Mt T Platinum Gp Mt* X Plato Gold V Playfair Mng V Playfair Mng* O PolyMet Mng* X PolyMet Mng T Portage Res* O Portofino Res V Portofino Res* O Potash Ridge* O Potash Ridge T Power Group V Power Group* O Power Metals* O Power Metals V PPX Mining* O PPX Mining V Precipitate Gl V Precipitate Gl* O Premier Gold M T Premium Expl* O Pretium Res* N Pretium Res T Prime Mining* O Prime Mining V Prism Res V Prismo Metals C Probe Metals* O Probe Metals V Prog Planet V Prog Planet* O Project One C Promithian Gl * O Prophecy Pot C Prosper Gold V Prospero Silvr V Prospero Silvr* O Provenance Gld C Providence V Providence Gld* O PUF Vent Inc * O Puma Expl* O Puma Expl V Pure Alumina* O Pure Energy* O Pure Energy V Pure Gold Mg* O Pure Gold Mg V Purepoint Uran V Q-Gold Res V QC Copper V QC Precious * O QC Precious V QcX Gold V QcX Gold* O QMC Quantum Ml* O QMC Quantum Ml V QMX Gold V QMX Gold* O Quadro Res* O Quadro Res V Quantum Cobalt C Quartz Mtn Res* O Quaterra Res V Quaterra Res* O Quest Rare Mnl* O Questex Gold V

Week Last

12-month

High

Low

Change

12 244 5 1073 34 1365 38 52 401 4 103 646 357 354 1005 130 2138 437 327 1 2137 76 3744 1507 389 289 4172 2150 2 967 361 19 411 848 993 1765 3 4176 2563 63 1787 302 384 261 1001 226 2 102 4 3 19 114 1 271 305 4 9506 91 299 380 1363 647 1124 3362 324 660 1363 25 758 529 6 1628 1476 4243 879 47 2858 132 0 92 313 308 130

0.53 0.25 0.20 0.28 0.04 0.05 0.38 111.35 0.14 0.05 0.08 0.24 0.22 0.05 0.07 3.05 2.21 0.04 0.21 0.12 4.48 5.83 0.00 0.11 0.11 0.03 0.04 0.09 0.04 0.31 0.35 0.04 0.06 0.31 0.24 2.90 0.00 13.66 17.92 1.45 1.94 0.04 0.35 1.50 1.95 0.06 0.04 0.46 4.97 0.17 0.61 0.20 0.14 0.15 0.10 0.09 0.03 0.16 0.20 0.03 0.15 0.19 1.85 2.49 0.05 0.62 0.13 0.19 0.24 0.32 0.24 0.20 0.27 0.20 0.16 0.16 0.25 0.03 0.00 0.10 0.08 0.02 0.76

0.51 0.51 0.18 0.25 + 0.20 0.20 unch 0.24 0.27 + 0.04 0.04 unch 0.04 0.04 0.36 0.36 0.00 110.39 0.11 0.14 + 0.05 0.05 unch 0.07 0.07 unch 0.20 0.22 0.16 0.17 + 0.04 0.04 0.06 0.06 2.66 2.66 2.01 2.01 0.03 0.04 unch 0.17 0.18 0.00 0.12 + 3.85 3.94 5.11 5.18 0.00 0.00 + 0.09 0.10 0.07 0.08 0.02 0.03 + 0.03 0.03 0.00 0.06 0.04 0.04 unch 0.23 0.24 0.31 0.31 0.04 0.04 + 0.06 0.06 0.24 0.29 + 0.20 0.22 + 2.61 2.77 0.00 0.00 + 12.89 12.93 16.94 17.08 1.21 1.45 + 1.61 1.87 + 0.04 0.04 unch 0.24 0.33 + 1.14 1.41 + 1.50 1.83 + 0.05 0.05 0.04 0.04 unch 0.00 0.42 0.00 4.97 0.12 0.17 + 0.00 0.60 0.18 0.18 0.14 0.14 unch 0.11 0.11 0.09 0.09 0.00 0.09 + 0.02 0.02 + 0.00 0.14 0.17 0.19 0.02 0.02 0.10 0.12 0.15 0.16 1.70 1.78 + 2.23 2.32 + 0.04 0.05 + 0.35 0.62 + 0.10 0.12 + 0.15 0.17 + 0.21 0.22 0.18 0.19 0.00 0.20 0.14 0.17 + 0.17 0.21 + 0.17 0.19 + 0.13 0.14 + 0.15 0.16 + 0.20 0.20 0.03 0.03 + 0.00 0.10 unch 0.09 0.10 unch 0.06 0.07 + 0.01 0.02 + 0.61 0.66 -

V O V V O C C O V O O V C O V V V O O V V C O V V O V O V V O V V V O V V O V O N O O O V C O V O O V V O V O V O C C O V V O V O V O V O O V O V O V O V O V T O V O D O V O V O T V O V V

100 0 1611 511 200 192 75 200 57 1 684 2520 96 42 13 2467 1057 209 4 280 125 2330 86 238 496 85 218 588 667 2319 762 2462 134 512 37 430 148 14042 768 104 7717 3 0 442 743 24 20 557 474 70 70 1054 1 181 2 48 30 999 50 38 540 445 13 594 38 1697 0 51 1243 61 1200 248 794 66 1676 8 202 236 353 5459 310 46 7 1313 633 674 0 15 325 121 77 90 816 675

0.20 0.12 0.39 0.30 0.05 0.07 0.19 5.25 0.09 0.00 0.81 0.08 0.09 0.01 0.10 0.05 0.13 0.10 3.79 1.57 0.22 0.08 0.06 0.08 0.10 0.08 0.22 0.91 1.15 1.20 1.12 0.41 0.06 0.42 0.10 0.12 0.37 0.00 0.10 0.08 61.94 60.55 71.15 0.70 0.88 1.00 0.80 0.33 0.25 0.13 0.19 0.52 0.06 0.09 0.80 1.05 0.07 0.08 0.03 0.13 0.18 0.18 0.05 0.12 0.11 0.25 0.00 0.09 0.34 0.22 0.28 0.04 0.06 0.32 0.38 0.00 0.20 0.11 0.08 1.89 1.45 0.35 0.21 126.40 0.00 0.42 0.00 0.10 0.06 0.16 0.12 0.07 0.08 6.20

0.00 0.00 0.31 0.27 0.03 0.06 0.17 4.50 0.08 0.00 0.68 0.05 0.09 0.00 0.07 0.04 0.12 0.08 3.74 1.42 0.15 0.06 0.05 0.06 0.09 0.07 0.18 0.77 1.04 0.93 0.76 0.19 0.00 0.40 0.08 0.11 0.30 0.00 0.09 0.07 59.47 0.00 0.00 0.60 0.79 0.90 0.66 0.27 0.19 0.13 0.17 0.48 0.00 0.00 0.00 0.92 0.04 0.07 0.03 0.12 0.16 0.17 0.05 0.00 0.08 0.11 0.00 0.08 0.25 0.19 0.25 0.03 0.05 0.26 0.34 0.00 0.19 0.05 0.07 1.72 1.32 0.28 0.19 121.00 0.00 0.35 0.00 0.10 0.06 0.15 0.11 0.02 0.03 5.35

0.20 0.12 0.38 0.30 0.05 0.06 0.17 5.20 0.08 0.00 0.72 0.06 0.09 0.00 0.10 0.04 0.12 0.09 3.75 1.49 0.15 0.07 0.06 0.08 0.09 0.08 0.18 0.82 1.06 1.03 0.78 0.39 0.06 0.40 0.08 0.11 0.35 0.00 0.09 0.07 60.05 59.21 71.15 0.62 0.84 0.97 0.68 0.30 0.22 0.13 0.17 0.49 0.06 0.09 0.80 0.93 0.06 0.07 0.03 0.12 0.16 0.18 0.05 0.12 0.08 0.13 0.06 0.09 0.25 0.20 0.27 0.04 0.05 0.27 0.35 0.00 0.19 0.06 0.08 1.83 1.40 0.35 0.21 122.47 0.00 0.41 0.15 0.10 0.06 0.16 0.11 0.03 0.04 5.45

unch + + + unch unch + unch unch unch + + + + unch unch + + + + + + unch + + + + + unch unch + unch + + unch + + unch unch + + + unch unch unch + + + + + unch + + + unch unch unch unch + + -

W . N OR TH ER N M I N ER . COM

(100s)

High Low

Stock

0.02 0.06 0.00 0.02 0.00 0.01 0.02 2.11 0.02 0.00 0.00 0.01 0.01 0.00 0.01 0.30 0.23 0.00 0.02 0.00 0.46 0.64 0.00 0.01 0.01 0.00 0.01 0.03 0.00 0.02 0.03 0.01 0.01 0.03 0.02 0.07 0.00 0.57 0.62 0.21 0.22 0.00 0.08 0.19 0.21 0.01 0.00 0.06 0.58 0.06 0.01 0.02 0.00 0.04 0.01 0.01 0.00 0.01 0.01 0.00 0.02 0.02 0.02 0.02 0.01 0.18 0.03 0.01 0.00 0.14 0.04 0.03 0.04 0.01 0.01 0.01 0.04 0.01 0.00 0.00 0.01 0.00 0.04

0.70 0.25 0.20 0.28 0.05 0.07 0.41 128.00 0.18 0.06 0.16 0.40 0.28 0.08 0.13 3.86 2.98 0.05 0.21 0.15 9.70 13.00 0.00 0.26 0.25 0.05 0.07 0.10 0.07 0.40 0.54 0.06 0.10 0.41 0.30 3.10 0.00 14.55 19.13 1.67 2.17 0.04 0.88 1.50 1.95 0.11 0.08 0.60

0.06 0.01 0.04 0.05 0.00 0.01 0.12 43.41 0.01 0.01 0.02 0.16 0.08 0.01 0.01 1.25 0.86 0.02 0.02 0.01 1.50 2.45 0.00 0.02 0.02 0.01 0.02 0.03 0.02 0.03 0.04 0.02 0.04 0.05 0.04 0.85 0.00 4.05 6.25 0.14 0.25 0.01 0.20 0.37 0.54 0.02 0.01 0.12

Rupert Res* Rusoro Mng Rusoro Mng*

O V O

0.20 0.85 0.50 0.32 0.19 0.17 0.17 0.21 0.16 0.21 0.30 0.24 0.24 2.12 2.79 0.08 0.63 0.13 0.29 0.39 0.50 0.30 0.14 0.27 0.38 0.27 0.24 0.33 0.06 0.18 0.15 0.11 0.04 0.90

0.02 0.25 0.10 0.14 0.08 0.06 0.02 0.01 0.03 0.04 0.01 0.02 0.03 0.27 0.38 0.03 0.14 0.03 0.10 0.14 0.04 0.23 0.03 0.06 0.04 0.03 0.15 0.02 0.01 0.04 0.02 0.02 0.00 0.25

0.00 0.00 0.05 0.01 0.00 0.01 0.00 0.75 0.01 0.00 0.10 0.02 0.00 0.00 0.03 0.01 0.01 0.00 0.05 0.01 0.00 0.00 0.00 0.02 0.01 0.00 0.03 0.05 0.09 0.06 0.04 0.19 0.02 0.02 0.00 0.01 0.02 0.00 0.00 0.00 2.04 4.09 4.80 0.03 0.01 0.06 0.01 0.02 0.02 0.00 0.00 0.03 0.02 0.00 0.05 0.01 0.01 0.01 0.00 0.01 0.01 0.01 0.00 0.00 0.03 0.06 0.00 0.01 0.02 0.01 0.02 0.00 0.00 0.02 0.03 0.00 0.02 0.00 0.01 0.06 0.06 0.07 0.00 0.98 0.00 0.05 0.00 0.00 0.00 0.00 0.01 0.01 0.01 0.25

0.28 0.20 0.40 0.38 0.90 0.15 0.35 7.60 0.18 0.12 1.25 0.10 0.10 0.03 0.24 0.07 0.15 0.11 4.38 1.74 0.35 0.09 1.00 0.16 0.23 0.18 0.29 1.13 1.45 1.74 1.35 0.41 0.08 0.74 0.27 0.30 0.45 0.00 0.10 0.08 66.55 66.30 73.85 0.78 1.03 1.10 0.83 0.54 0.40 0.24 0.32 0.56 0.07 0.09 0.83 1.14 0.10 0.14 0.05 0.19 0.25 0.23 0.08 0.19 1.00 0.25 0.08 0.10 1.00 0.50 0.60 0.06 0.08 0.50 0.55 0.00 0.36 0.15 0.10 1.92 1.47 0.60 0.43 147.64 0.00 0.48 1.24 0.14 0.09 0.22 0.19 0.02 0.08 6.20

0.08 0.00 0.09 0.11 0.00 0.04 0.07 0.22 0.04 0.00 0.24 0.05 0.04 0.00 0.03 0.02 0.02 0.01 1.80 0.47 0.07 0.03 0.01 0.05 0.05 0.04 0.05 0.24 0.33 0.50 0.44 0.04 0.03 0.40 0.08 0.11 0.11 0.00 0.01 0.02 35.35 34.85 41.50 0.11 0.14 0.30 0.31 0.10 0.06 0.07 0.09 0.10 0.02 0.03 0.35 0.37 0.03 0.04 0.02 0.04 0.06 0.07 0.01 0.02 0.00 0.02 0.03 0.02 0.11 0.03 0.04 0.01 0.02 0.05 0.10 0.00 0.06 0.00 0.03 0.56 0.05 0.17 0.11 59.78 0.00 0.13 0.03 0.02 0.01 0.04 0.05 0.01 0.01 0.53

Sabina Gd&Slvr* Sabina Gd&Slvr Sable Res* Sable Res Sage Gold* Sailfish Rylty Saint Jean* Saint Jean Salazar Res* Salazar Res Salt Lake Pot* Sama Res Sama Res* San Gold Corp* San Marco Res* San Marco Res Sanatana Res Sanatana Res* Sandfire Res* Sandfire Res Sandspring Res* Sandstorm Gold Sandstorm Gold* Santacruz Silv Sarama Res Sarissa Res* Sassy Res Sassy Res* Satori Res* Satori Res Saturn Mnrls Saville Res Scandium Intl* Scandium Intl Scorpio Gold Scorpio Gold * Scotch Creek Scottie Res* Scottie Res ScoZinc Mg* ScoZinc Mg Seabridge Gld Seabridge Gld* Seahawk Gold* Seahawk Gold Search Mnls Search Mnls* Searchlight* SearchlightMin* SearchlightRes Sego Res Select Sands Sennen Potash* Sentinel Res* Sentinel Res Serabi Gold Serabi Gold* Serengeti Res Sherritt Intl Shine Minerals Shine Minerals* Sibanye-Stillw* Sibanye-Stillw* Sidney Resrces* Sienna Res Sienna Res* Sierra Madre Sierra Madre* Sierra Metals Sierra Metals* Sigma Lithium Signature Res* Signature Res Silver Bear Rs* Silver Bear Rs Silver Bull Re* Silver Bull Re Silver Dollar Silver Dollar* Silver Eleph* Silver Eleph Silver Grail Silver Mtn Mns Silver Mtn Mns* Silver One Silver One* Silver Predatr Silver Predatr* Silver Range Silver Range* Silver Sands Silver Sands* Silver Scott* Silver Spruce* Silver Spruce Silver Viper Silver Viper* Silver Wolf Silvercorp Met Silvercorp Met* SilverCrest* SilverCrest Silverore Mns* Silverstar Res* Sirios Res* Sirios Res Sitka Gold Sitka Gold* Sixty North Sixty North* Skarb Explor Skeena Res* Skeena Res SKRR Explor Sky Gold Sky Gold* Skyharbour Res* Skyharbour Res Slam Explor* Slam Explor Slave Lake Zn Sokoman Min* Sokoman Min Solaris Res Solaris Res* Soldera Mining SolGold plc* SolGold plc Solitario Ex&R Solitario Ex&R* Solstice Gold Sonora Gld & S Sonoro Gold* Sonoro Gold South32* Southern Arc* Southern Arc Southern Copp* Southern Emp Southern Silvr Southern Silvr* Southstone Min Spanish Mtn Gd Spanish Mtn Gd* Sparton Res Sparton Res* Spearmint Res* Spearmint Res Spey Resources Sphinx Res Spruce Ridge R SRG Mining SRHI Inc* SRHI Inc SSR Mining SSR Mining* St Augustine St-Georges Eco St-Georges Eco* St. James Gold St. James Gold* Stakeholdr Gld* Stakeholdr Gld Standard Graph* Standard Lith Standard Metal* Standard Uran* Standard Uran Stans Energy* Star Diamond Star Diamond* Star Gold* Starcore Intl* Starcore Intl

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

R Rackla Metals Rackla Metals* Radisson Mng Radius Gold Rae-Wallace Mg* Rain City Raindrop Vent Rainforest Res* Rainy Mtn Royl Rambler Metals* Rare Element* Rathdowney Res Razore Rock Res Red Eagle Mng* Red Moon Res Red Pine Expl Redstar Gold Redstar Gold* Regis Res NL* Regulus Res Remington Res Renforth Res Renforth Res* Resolve Vent Reunion Gold Reunion Gold* Revelo Res Revival Gold * Revival Gold Reyna Silver Reyna Silver* Rhyolite Res Richmond Mnls Ridgeline Min Ridgestone M’g* Ridgestone M’g Riley Gold Rimrock Gold* Rio Silver Rio Silver* Rio Tinto* Rio Tinto* Rio Tinto* Rio2 Limited* Rio2 Limited Rise Gold Corp Rise Gold Corp* Riverside Res Riverside Res* RJK Explor* RJK Explor Robex Res Rochester Res* Rochester Res Rock Tech Lith* Rock Tech Lith Rockcliff Met* Rockcliff Met Rockex Mng Rockhaven Re* Rockhaven Res Rockridge Res Rockshield Cap* Rockwealth Res Rockwealth Res* Rodinia Lithm Rogue Res* Rogue Res Rojo Res* Rokmaster Res* Rokmaster Res Romios Gold Rs* Romios Gold Rs RosCan Gold* RosCan Gold Ross River* Roughrider Exp Rover Metals* Rover Metals Roxgold Roxgold* Royal Gold Royal Gold* Royal Gold* Royal Mines &M* Royal Rd Mnrls Royal Std Mnrl* RT Minerals RT Minerals* RTG Mining Rugby Mng Running Fox Rs* Running Fox Rs Rupert Res

Exc Volume

Week Last

12-month

High

Low

Change

High Low

98 506 102

4.70 0.04 0.04

4.06 0.04 0.03

+ 4.37 0.04 unch 0.03

0.09 0.00 0.01

8.70 0.43 0.08 0.03 0.06 0.02

1068 2271 545 1514 10 166 301 1234 15 65 1 506 119 407 60 507 103 6 96 145 162 1732 4679 3281 527 266 2808 20 10 936 457 998 172 381 1057 255 65 315 630 0 1 320 1180 16 24 364 12 131 2 533 406 198 0 41 475 26 4 652 8380 3 0 0 8551 1019 3127 533 236 0 112 316 16 59 138 111 407 10 170 915 356 3288 6326 149 9 1 1771 1162 23 10 638 238 1971 135 34 297 952 669 216 80 3194 4735 3221 1688 6 17 6 220 472 16 4593 40 50 522 1653 578 899 286 206 532 10 950 406 258 2274 652 49 84 147 295 90 4060 120 164 44 359 18 121 179 2697 1730 1178 507 528 1168 772 858 363 779 6035 108 113 170 92 26 94 3272 7043 2284 535 52 3 0 0 62 425 1234 1 2 1546 246 1300 344 29 89 280

2.19 2.79 0.16 0.19 0.00 1.36 0.04 0.04 0.27 0.36 0.41 0.15 0.12 0.02 0.23 0.31 0.25 0.28 0.20 0.26 3.10 11.48 8.75 0.35 0.45 0.00 1.24 0.92 0.14 0.18 0.11 0.04 0.11 0.15 0.19 0.14 0.12 0.33 0.40 0.00 0.00 26.50 20.09 0.46 0.52 0.05 0.04 0.05 0.01 0.08 0.03 0.03 0.00 0.56 0.78 1.78 1.41 0.36 0.30 0.10 0.00 0.00 12.76 0.06 0.08 0.08 0.14 0.00 2.13 1.65 2.70 0.04 0.07 0.12 0.16 0.57 0.76 1.88 2.51 0.40 0.52 0.25 0.36 0.26 0.70 0.56 0.30 0.28 0.27 0.20 0.29 0.37 0.12 0.07 0.08 0.56 0.50 0.22 10.47 7.94 9.91 13.14 0.06 0.02 0.12 0.16 0.24 0.18 0.07 0.05 0.28 2.00 2.60 0.35 0.16 0.14 0.15 0.18 0.07 0.10 0.12 0.13 0.18 5.36 4.15 0.88 0.56 0.72 0.65 0.49 0.08 0.07 0.24 0.29 1.53 0.68 0.89 48.54 0.47 0.63 0.48 0.05 0.48 0.38 0.07 0.05 0.06 0.07 0.12 0.03 0.10 0.49 0.18 0.25 26.15 19.92 0.08 0.08 0.05 0.22 0.00 0.00 0.24 0.07 2.22 0.04 0.14 0.20 0.01 0.19 0.15 0.06 0.25 0.35

1.99 2.57 0.12 0.16 0.00 1.28 0.02 0.03 0.24 0.00 0.41 0.12 0.00 0.00 0.20 0.26 0.25 0.00 0.18 0.25 2.85 10.93 8.29 0.27 0.38 0.00 0.99 0.79 0.14 0.17 0.10 0.03 0.09 0.13 0.15 0.11 0.10 0.27 0.37 0.00 0.00 24.27 18.47 0.31 0.49 0.05 0.04 0.00 0.00 0.00 0.03 0.02 0.00 0.42 0.60 1.65 0.00 0.34 0.20 0.10 0.00 0.00 11.93 0.04 0.08 0.06 0.12 0.00 1.94 1.42 2.49 0.03 0.06 0.10 0.14 0.53 0.66 1.69 1.30 0.32 0.43 0.23 0.00 0.26 0.60 0.47 0.00 0.00 0.19 0.16 0.20 0.18 0.00 0.05 0.07 0.49 0.34 0.18 9.67 7.36 9.30 11.72 0.04 0.01 0.00 0.15 0.19 0.15 0.06 0.05 0.28 1.76 2.32 0.28 0.13 0.10 0.12 0.16 0.07 0.08 0.10 0.12 0.16 4.22 3.01 0.70 0.49 0.63 0.55 0.43 0.08 0.06 0.19 0.25 0.00 0.00 0.83 45.88 0.33 0.54 0.43 0.05 0.45 0.34 0.06 0.05 0.05 0.06 0.00 0.00 0.08 0.42 0.06 0.00 24.63 18.75 0.07 0.06 0.05 0.22 0.00 0.00 0.00 0.06 1.81 0.00 0.14 0.17 0.00 0.16 0.13 0.05 0.23 0.27

2.04 2.69 unch 0.13 0.17 unch 0.00 unch 1.28 0.03 + 0.04 0.24 0.33 0.41 unch + 0.14 + 0.10 0.01 0.20 0.27 0.25 unch + 0.23 + 0.19 + 0.26 2.88 11.10 8.42 + 0.32 0.38 0.00 unch 1.09 0.83 0.14 0.17 + 0.11 0.04 unch + 0.11 + 0.14 + 0.18 + 0.14 + 0.11 0.28 0.38 0.26 unch 0.38 unch 25.63 19.46 0.40 0.50 0.05 + 0.04 0.05 0.01 0.07 0.03 unch + 0.03 0.31 unch 0.48 0.63 1.75 unch + 1.41 0.35 + 0.27 0.10 unch 0.10 unch 2.78 unch 12.43 0.04 + 0.08 0.06 0.12 unch 0.03 unch + 2.11 + 1.59 + 2.68 0.03 0.06 + 0.12 + 0.16 0.55 unch 0.71 1.75 1.33 + 0.38 + 0.50 + 0.25 + 0.36 0.26 unch 0.65 unch 0.49 + 0.30 0.22 + 0.27 + 0.20 + 0.27 + 0.21 + 0.12 + 0.06 + 0.08 0.51 + 0.39 + 0.22 10.09 7.68 + 9.69 + 12.73 0.04 + 0.02 0.12 unch 0.15 + 0.22 + 0.18 + 0.07 + 0.05 0.28 unch 1.81 2.37 + 0.34 + 0.15 + 0.12 0.12 0.17 0.07 0.09 + 0.12 0.13 0.16 + 5.05 + 3.88 0.80 unch 0.53 0.66 + 0.58 0.43 + 0.08 0.06 unch 0.20 0.25 1.53 0.64 unch 0.89 unch 47.94 0.34 + 0.59 0.45 0.05 unch 0.45 0.34 0.07 0.05 0.05 0.06 0.12 unch 0.03 unch 0.09 unch 0.44 0.08 + 0.25 + 25.63 + 19.42 0.07 0.07 unch 0.05 unch 0.22 unch 0.17 unch 0.14 unch + 0.19 0.06 1.99 + 0.04 0.14 unch 0.18 + 0.01 0.17 0.13 0.05 + 0.24 + 0.32

0.01 0.00 0.00 0.00 0.00 0.04 0.00 0.01 0.02 0.01 0.00 0.02 0.01 0.00 0.03 0.04 0.00 0.02 0.01 0.02 0.13 0.35 0.31 0.03 0.03 0.00 0.12 0.09 0.01 0.02 0.01 0.00 0.00 0.01 0.03 0.03 0.01 0.02 0.01 0.00 0.00 0.44 0.41 0.00 0.01 0.01 0.00 0.00 0.00 0.01 0.00 0.01 0.00 0.01 0.11 0.00 0.05 0.01 0.07 0.00 0.00 0.00 0.26 0.01 0.01 0.00 0.00 0.00 0.13 0.09 0.08 0.02 0.01 0.01 0.01 0.00 0.02 0.08 0.08 0.05 0.07 0.02 0.11 0.00 0.00 0.00 0.02 0.05 0.07 0.04 0.03 0.03 0.04 0.00 0.01 0.01 0.00 0.02 0.08 0.08 0.12 0.21 0.01 0.01 0.00 0.01 0.01 0.04 0.01 0.00 0.00 0.10 0.13 0.05 0.02 0.01 0.01 0.01 0.00 0.01 0.01 0.00 0.01 0.82 0.62 0.00 0.01 0.05 0.02 0.00 0.01 0.00 0.02 0.03 0.01 0.00 0.00 0.14 0.09 0.01 0.00 0.00 0.01 0.01 0.01 0.00 0.01 0.01 0.00 0.00 0.00 0.02 0.09 0.02 0.32 0.12 0.01 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.17 0.01 0.00 0.02 0.00 0.01 0.02 0.01 0.01 0.02

2.42 3.06 0.19 0.24 0.00 1.57 0.04 0.04 0.28 0.36

0.51 0.71 0.03 0.04 0.00 0.45 0.00 0.02 0.08 0.12

0.29 0.22 0.02 0.26 0.38 0.40 0.32 0.31 0.40 3.51 14.22 10.63 0.39 0.51

0.12 0.08 0.00 0.06 0.09 0.08 0.00 0.11 0.14 0.58 4.64 3.32 0.07 0.09

1.24 0.92 0.14 0.20 0.17 0.06 0.11 0.15 0.22 0.17 0.25 0.46 0.53 0.59 0.90 27.50 20.73 0.51 0.71 0.06 0.04 0.10 0.07 0.14 0.07 0.05 0.31 0.53 0.78 2.06 1.55 0.38 0.29 0.25 0.19 5.00 13.89 0.08 0.11 0.09 0.20 0.03 3.67 2.75 3.00 0.08 0.10 0.18 0.24 0.76 1.40 2.00 2.51 0.45 0.59 0.35 0.53 0.40 0.87 0.67 0.40 0.34 0.27 0.20 0.49 0.37 0.30 0.48 0.12 0.85 2.21 0.24 11.62 8.91 11.12 14.88 0.16 0.09 0.20 0.26 0.30 0.22 0.11 0.08 1.00 2.51 3.34 0.50 0.23 0.20 0.18 0.24 0.11 0.16 0.13 0.14 0.19 5.36 3.90 0.98 0.56 0.72 1.16 0.88 0.13 0.10 0.28 0.34 2.00 0.67 0.93 49.19 1.45 0.69 0.53 0.14 0.77 0.59 0.08 0.05 0.10 0.10 0.14 0.04 0.15 1.00 0.78 0.95 33.69 25.32 0.15 0.14 0.08 0.27 0.17 0.52 0.60 0.21 2.30 0.08 0.17 0.38 0.02 0.53 0.41 0.19 0.25 0.35

0.43 0.89 0.02 0.01 0.07 0.02 0.03 0.06 0.05 0.03 0.07 0.07 0.11 0.19 0.28 7.37 5.25 0.09 0.15 0.03 0.02 0.01 0.01 0.02 0.03 0.01 0.31 0.26 0.10 0.75 0.82 0.15 0.07 0.02 0.03 2.53 3.50 0.01 0.03 0.02 0.04 0.03 0.89 0.45 1.30 0.02 0.02 0.05 0.05 0.46 0.24 0.22 1.13 0.06 0.10 0.05 0.08 0.00 0.15 0.11 0.04 0.05 0.07 0.05 0.10 0.15 0.01 0.01 0.02 0.18 0.00 0.04 2.12 1.50 3.28 4.50 0.00 0.00 0.07 0.08 0.05 0.03 0.03 0.02 0.11 0.34 0.45 0.16 0.05 0.04 0.06 0.08 0.00 0.01 0.04 0.04 0.04 1.38 1.97 0.60 0.13 0.19 0.22 0.13 0.02 0.02 0.06 0.07 0.89 0.17 0.24 23.43 0.33 0.06 0.05 0.04 0.05 0.03 0.02 0.01 0.01 0.01 0.02 0.01 0.03 0.22 0.02 0.19 12.12 9.00 0.01 0.03 0.02 0.05 0.05 0.07 0.16 0.05 0.39 0.02 0.16 0.15 0.00 0.16 0.13 0.02 0.00 0.05

G LOBAL M I N I N G

N EW S

(100s) Stock

TH E N OR TH ER N

Week

Exc Volume

Low

1.84 1.89 1.40 1.43 0.00 0.15 unch 0.03 0.03 0.00 0.05 0.05 0.06 2.35 2.53 + 1.85 1.94 + 0.27 0.31 unch 0.00 0.17 0.00 0.00 0.21 0.33 + 0.17 0.17 unch 0.18 0.20 0.00 0.00 unch 0.45 0.48 0.60 0.62 0.39 0.39 0.00 0.14 unch 0.15 0.16 0.19 0.22 unch 0.07 0.09 unch 0.06 0.07 + 0.64 0.74 + 0.00 0.41 unch 0.00 0.60 + 0.00 0.04 unch 0.06 0.07 unch 0.91 0.95 1.20 1.25 0.10 0.11 1.10 1.11 11.80 11.88 15.60 15.67 0.55 0.58 0.72 0.73 0.50 0.50 0.11 0.11 0.16 0.16 0.20 0.29 + 0.29 0.40 + 0.07 0.07 0.00 0.00 unch 0.35 0.35 -

Starr Peak Exp Starr Peak Exp* Steele Oceanic* Stellar Africa* Stellar Africa Stelmine Can Steppe Gold Steppe Gold* Stevens Gold Stone Gold Stornoway Diam* Straightup Res Stratabd Mnr* Stratabd Mnr Strateco Res* Strategic Metl* Strategic Metl Strategic Res Strategic Res* Strikepoint Gd* Strikepoint Gd Strongbow Expl Strongbow Expl* Stroud Res Stuhini Explor* Stuhini Explor Sulliden Mng* Sulliden Mng Summa Silver* Summa Silver Sun Metals Sun Peak Metal Suncor Energy* Suncor Energy Superior Gold* Superior Gold Superior Mng Supernova Met* Supernova Met Surge Copper * Surge Copper Surge Explor Sutter Gold* Syrah Res*

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

358 218 0 44 13 984 233 20 24 2 2590 386 30 461 89 430 1191 136 0 1856 2901 453 202 94 1 57 0 251 434 1081 1779 303 37268 34162 142 1266 25 6 128 45 2009 140 114 158

1.98 1.50 0.00 0.03 0.05 0.08 2.57 1.94 0.31 0.17 0.00 0.34 0.17 0.24 0.00 0.55 0.72 0.45 0.00 0.19 0.23 0.09 0.07 0.74 0.41 0.60 0.00 0.07 2.10 1.50 0.12 1.19 13.00 17.38 0.60 0.79 0.59 0.13 0.17 0.29 0.44 0.07 0.00 0.42

Taiga Gold Taiga Gold* Tajiri Res Taku Gold* Taku Gold Talisker Res Talisker Res* Talisker Res Talmora Diamd Talon Metals Tamerlane Vent* Tamino Mnrls* Tanqueray Expl Tanzanian Gold* Tanzanian Gold Tarachi Gold* Tarachi Gold Taranis Res Taranis Res* Tarku Res Tartisan Nick* Tartisan Nick Taseko Mines* Taseko Mines Tearlach Res Teck Res Teck Res Teck Res* Tectonic Metal Tectonic Metal* Telson Res Telson Res * Temas Res* Temas Res Tembo Gold Tembo Gold* Teranga Gold Teranga Gold* Teras Res* Teras Res Terrax Mnrls Terrax Mnrls* Terreno Res

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

156 51 78 1 137 10959 85 432 12 1308 225 2245 2831 1187 129 92 1381 115 3 101 79 422 3035 807 25 16615 13 24189 319 25 541 287 2 89 398 11 1429 29 268 1098 897 173 361

0.20 0.15 0.19 0.08 0.10 0.43 0.34 0.42 0.03 0.32 0.00 0.00 2.73 0.78 1.05 0.36 0.45 0.11 0.08 0.11 0.23 0.29 1.11 1.47 0.11 18.62 20.25 14.02 0.16 0.17 0.30 0.22 0.41 0.57 0.16 0.14 14.65 11.19 0.08 0.10 0.45 0.33 0.04

Last

High Low

Stock

0.01 0.02 0.00 0.01 0.01 0.01 0.09 0.09 0.00 0.01 0.00 0.10 0.00 0.04 0.00 0.03 0.06 0.04 0.00 0.01 0.00 0.00 0.01 0.07 0.00 0.07 0.00 0.00 0.10 0.12 0.02 0.04 0.98 1.21 0.02 0.04 0.09 0.02 0.01 0.09 0.10 0.01 0.00 0.01

2.94 2.24 0.51 0.05 0.07 0.14 3.14 2.33 0.31 0.28 0.02 0.34 0.19 0.28 0.01 0.60 0.80 0.45 0.30 0.21 0.27 0.15 0.10 0.83 0.72 0.94 0.05 0.10 2.20 3.50 0.25 1.34 34.56 45.12 1.15 1.53 0.89 0.24 0.32 0.21 0.44 0.40 0.05 0.52

0.26 0.25 0.15 0.01 0.02 0.04 0.63 1.76 0.24 0.02 0.00 0.10 0.12 0.04 0.00 0.18 0.25 0.18 0.14 0.01 0.02 0.03 0.01 0.15 0.29 0.12 0.04 0.03 0.89 0.09 0.06 0.80 9.61 14.02 0.26 0.33 0.11 0.03 0.02 0.03 0.02 0.05 0.00 0.09

0.01 0.00 0.00 0.00 0.02 0.00 0.00 0.01 0.00 0.02 0.00 0.00 0.35 0.01 0.03 0.03 0.02 0.00 0.00 0.01 0.02 0.02 0.00 0.02 0.00 0.42 0.09 0.35 0.00 0.05 0.00 0.01 0.11 0.10 0.02 0.00 0.58 0.48 0.00 0.01 0.03 0.02 0.00

0.31 0.22 0.23 0.11 0.15 0.65 0.47 0.44 0.05 0.36 0.00 0.01 3.14 1.09 1.49 0.35 1.00 0.12 0.09 0.23 0.30 0.33 1.34 1.76 0.20 23.20 23.98 17.77 0.34 0.25 0.33 0.23 0.41 0.57 0.30 0.18 16.80 12.82 0.08 0.14 0.55 0.41 0.06

0.07 0.05 0.03 0.01 0.03 0.14 0.10 0.41 0.01 0.08 0.00 0.00 0.50 0.36 0.55 0.29 0.04 0.04 0.03 0.04 0.03 0.04 0.20 0.28 0.07 8.15 9.00 5.60 0.10 0.10 0.04 0.04 0.30 0.10 0.03 0.02 3.86 2.84 0.02 0.02 0.16 0.11 0.01

Teslin Rvr Res Tesoro Mnrls Teuton Res Teuton Res* Texas Mineral* Themac Res* Themac Res Theta Gold* Thor Expl Thunder Mtn Gd* Thunderstruck Thunderstruck* Till Capital Timberline Res Timberline Res* Tinka Res* Tinka Res Tintina Mines Tisdale Res Titan Mining Titan Mining* Titanium Corp TMAC Resource* TMAC Resources TNR Gold Tocvan Venture TomaGold Tombstone Expl* Tonogold Res* Tonopah Div Mg* Top Explor Torex Gold* Torex Gold Torq Resources* Torq Resources Tower Res* Tower Res Transatlantic* Transatlantic Transition Met Transition Met* Treasury Metal Treasury Metal* Trecora Res* Tres-Or Res* Tres-Or Res Trevali Mng* Trevali Mng Tri Origin Exp* Tri Origin Exp Trident Gold Trifecta Gold* Trifecta Gold Trilogy Mtls Trilogy Mtls* TriMetals Mng* Trinity Res* Trinity Valley Trinity Valley* Trio Resources* TriStar Gold TriStar Gold* Triumph Gold Triumph Gold* Troilus Gold* Troilus Gold Troubadour Res Troy Res* True North Gem* True North Gem Tsodilo Res Tudor Gold Tudor Gold * Tundra Gold* Turmalina Met* Turmalina Met Turquoise HIl* Turquoise HIl TVI Pacific TVI Pacific* Tyhee Gold* Typhoon Expl

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

U.S. Gold* U3O8 Corp U3O8 Corp* Ubique Mineral UC Res*

D V O C O

Change

T 0.19 0.14 0.19 0.07 0.08 0.37 0.30 0.40 0.00 0.28 0.00 0.00 2.17 0.70 0.90 0.29 0.38 0.10 0.08 0.10 0.19 0.26 0.99 1.32 0.10 17.14 19.10 13.05 0.13 0.10 0.27 0.00 0.00 0.47 0.13 0.00 13.86 10.59 0.07 0.09 0.40 0.30 0.04

0.20 0.15 0.19 0.07 0.08 0.41 0.31 0.41 0.03 0.30 0.00 0.00 2.32 0.73 0.94 0.32 0.41 0.11 0.08 0.11 0.19 0.27 1.10 1.46 0.10 17.86 20.15 13.55 0.16 0.12 0.28 0.22 0.41 0.57 0.14 0.11 14.04 10.62 0.07 0.10 0.41 0.31 0.04

(100s)

12-month

High

+ + unch unch unch + unch + + + unch unch unch + unch unch unch + + + + + unch

Week

Exc Volume

Last

12-month

High

Low

Change

31 130 195 38 717 8 8 49 450 88 201 68 2 904 678 314 339 86 3 493 35 876 10 483 411 864 1417 7 597 0 8 133 1306 5 419 5 1923 1 185 155 33 293 76 398 20 191 57 3832 34 294 2 97 182 48 722 92 34 377 150 2276 610 185 1284 419 126 1287 3769 7 8 6 649 465 199 0 166 337 7566 2397 1523 1754 4171 396

7.10 0.08 3.38 2.51 1.58 0.06 0.08 0.34 0.26 0.19 0.14 0.11 3.01 0.47 0.35 0.15 0.20 0.08 0.65 1.10 0.78 0.29 0.94 1.28 0.05 0.40 0.09 2.63 0.43 0.10 0.45 16.72 21.82 0.52 0.70 0.08 0.13 0.03 0.07 0.16 0.12 1.48 1.18 7.23 0.07 0.10 0.11 0.14 0.15 0.20 0.00 0.06 0.08 2.39 1.80 0.12 0.10 0.15 0.10 0.00 0.36 0.28 0.26 0.22 1.10 1.42 0.11 0.12 0.08 0.10 0.10 3.47 2.75 3.50 0.91 1.21 0.83 1.09 0.03 0.02 0.00 0.07

6.21 6.75 + 0.00 0.07 unch 2.90 2.90 2.16 2.29 1.44 1.48 unch 0.04 0.06 + 0.08 0.08 unch 0.23 0.34 + 0.23 0.24 unch 0.18 0.18 0.12 0.13 + 0.07 0.10 + 0.00 3.01 + 0.36 0.36 0.27 0.27 0.13 0.14 0.18 0.18 0.04 0.04 0.00 0.65 + 0.72 1.01 + 0.56 0.76 + 0.27 0.27 0.89 0.89 1.17 1.22 + 0.04 0.04 0.30 0.40 + 0.08 0.09 + 1.75 2.10 0.39 0.40 0.10 0.10 unch 0.00 0.40 + 15.68 15.77 20.65 20.84 0.47 0.52 + 0.62 0.66 + 0.08 0.08 unch 0.10 0.11 + 0.03 0.03 unch 0.06 0.07 unch 0.14 0.16 + 0.11 0.12 + 1.36 1.38 1.04 1.05 6.45 6.73 0.07 0.07 unch 0.09 0.10 unch 0.09 0.10 + 0.13 0.13 + 0.12 0.15 + 0.16 0.17 0.00 0.12 unch 0.00 0.06 0.00 0.07 2.32 2.32 1.74 1.75 0.07 0.09 0.09 0.10 + 0.00 0.12 unch 0.10 0.10 unch 0.00 0.00 0.34 0.34 0.26 0.26 unch 0.24 0.25 0.19 0.19 0.96 0.97 1.19 1.27 0.07 0.09 + 0.08 0.12 + 0.05 0.08 + 0.00 0.10 + 0.08 0.10 + 3.06 3.07 2.32 2.34 3.50 3.50 unch 0.81 0.91 + 1.07 1.21 + 0.77 0.78 + 1.01 1.04 + 0.02 0.02 unch 0.01 0.02 0.00 0.00 0.06 0.06 unch

249 155 91 25 339

9.61 0.19 0.15 0.06 0.69

Stock

0.35 0.00 0.30 0.21 0.00 0.00 0.00 0.08 0.00 0.00 0.01 0.00 0.11 0.05 0.04 0.01 0.01 0.04 0.02 0.20 0.22 0.02 0.03 0.03 0.01 0.09 0.01 0.53 0.03 0.00 0.15 0.57 0.58 0.05 0.01 0.00 0.01 0.00 0.00 0.01 0.00 0.07 0.02 0.18 0.00 0.00 0.00 0.01 0.01 0.01 0.00 0.00 0.01 0.02 0.05 0.01 0.01 0.00 0.00 0.00 0.01 0.00 0.01 0.00 0.08 0.10 0.02 0.05 0.03 0.03 0.01 0.37 0.35 0.00 0.02 0.07 0.00 0.02 0.00 0.00 0.00 0.00

63.08 0.08 4.85 3.80 2.65 0.07 0.08 0.70 0.28 0.34 0.20

5.25 0.03 0.27 0.20 0.22 0.02 0.03 0.10 0.12 0.06 0.03

3.01 0.47 0.35 0.19 0.25 0.08 1.50 1.10 0.54 0.78 3.22 4.31 0.07 0.50 0.10 3.09 0.55 0.50 0.45 19.45 25.52 0.59 0.79 0.10 0.14 0.03 0.07 0.24 0.18 1.98 1.40 9.07 0.10 0.15 0.20 0.26 0.29 0.40 0.20 0.08 0.12 3.61 2.74 0.13 0.50 0.15 0.11 0.00 0.47 0.35 0.48 0.34 1.33 1.82 0.11 0.13 0.10 0.13 0.11 4.51 3.40 7.00 1.33 1.80 1.20 1.56 0.03 0.02 0.01 0.11

1.00 0.06 0.02 0.05 0.07 0.02 0.35 0.14 0.11 0.24 0.31 0.44 0.02 0.10 0.06 0.50 0.15 0.00 0.02 6.19 8.79 0.21 0.27 0.01 0.02 0.01 0.02 0.11 0.08 0.45 0.90 4.23 0.05 0.06 0.04 0.06 0.12 0.03 0.12 0.01 0.02 1.50 1.03 0.05 0.01 0.04 0.07 0.00 0.19 0.13 0.07 0.06 0.30 0.42 0.02 0.03 0.02 0.04 0.05 0.38 0.27 3.50 0.20 0.27 0.30 0.43 0.01 0.00 0.00 0.03

0.97 0.00 0.01 0.00 0.04

14.44 0.19 0.90 0.06 1.03

2.61 0.04 0.01 0.03 0.09

Ucore Rare Mtl* Ucore Rare Mtl UEX Corp Ultra Resource* Ultra Resource Umbral Enrgy* Unigold* Unigold United Battery* United Battery United Res Hdg* United States A* United States S* Universal Cop Universal Vent Upper Canyon Ur-Energy Ur-Energy* Uragold Bay Rs Uranium Energy* Uranium Hunter* Uranium Res* Uranium Roylty Uranium Roylty* Uravan Mnrls UrbanGold Min USCorp* Usha Res Val-d’Or Mg Val-d’Or Mg* Vale* Valley High Mg* ValOre Metals* ValOre Metals Valorem Res Valterra Res* Valterra Res Vanadian Enrgy* Vanadian Enrgy Vanadium One* Vanadium One Vanadiumcorp* Vanadiumcorp Vangold Res* Vangold Res Vanstar Mng Rs* Vanstar Mng Rs Vantex Res Vantex Res * Velocity Mnrls* Velocity Mnrls Vendetta Mng Vendetta Mng* Venerable Vent Venture Mnrls* Verde Potash Verde Res* Veris Gold* Vertical Expl* Vertical Expl Victoria Gold* Victoria Gold Victory Metals* Victory Metals Victory Nickel* Victory Nickel Victory Res Virginia Enrgy* Virginia Enrgy Viscount Mng Visible Gold M Visible Gold M* Vision Lithium Vision Lithium* Vista Gold* Vista Gold Viva Gold* Viva Gold Vizsla Res Vizsla Res * Volcanic Gold Voyageur Min* Voyageur Min Voyageur Min VR Resources* VR Resources Vulcan Mnrls* Vulcan Mnrls VVC Expl VVC Expl*

U-V 8.47 0.13 0.10 0.06 0.55

8.64 0.17 unch 0.13 + 0.06 unch 0.56 -

(100s)

High Low

Week

Exc Volume O V T O V O O V O C O X N V V V T X V X O D V O V V O V V O N O O V C O V O V O V O V O V O V V O O V V O V O T O O O V O T O V O C C O V V V O V O X T O V V O V O C V O V O V V O

Low

Change

0.09 0.12 0.16 0.06 0.06 0.13 0.33 0.43 0.64 0.68 0.02 0.43 9.08 0.08 2.75 0.15 0.63 0.49 0.62 1.04 0.09 8.10 1.15 0.89 0.03 0.20 0.00 0.26 0.12 0.10 11.36 0.02 0.25 0.28 0.16 0.09 0.12 0.05 0.08 0.08 0.10 0.04 0.06 0.28 0.33 1.10 1.30 0.21 0.15 0.34 0.45 0.07 0.06 0.12 0.02 0.69 0.01 0.01 0.03 0.04 12.75 16.63 0.40 0.53 0.04 0.04 0.09 0.07 0.09 0.44 0.19 0.14 0.04 0.03 1.19 1.61 0.28 0.33 1.93 1.48 0.67 0.05 0.30 0.06 0.24 0.31 0.07 0.09 0.05 0.04

0.08 0.08 0.11 0.11 0.14 0.14 0.05 0.05 0.05 0.06 0.09 0.12 + 0.27 0.27 0.34 0.36 0.40 0.45 0.00 0.58 0.02 0.02 0.35 0.36 8.23 8.96 + 0.08 0.08 unch 2.23 2.55 + 0.00 0.14 0.60 0.61 unch 0.45 0.46 0.50 0.55 + 0.99 0.99 0.05 0.05 + 5.66 5.76 1.08 1.10 0.81 0.83 0.02 0.02 0.18 0.20 0.00 0.00 + 0.19 0.26 + 0.00 0.12 unch 0.10 0.10 unch 10.97 11.09 0.01 0.01 0.20 0.20 0.26 0.27 0.12 0.15 unch 0.07 0.07 0.09 0.09 0.04 0.04 0.00 0.06 0.06 0.06 0.09 0.09 unch 0.04 0.04 0.05 0.05 0.18 0.23 + 0.25 0.31 + 0.89 1.10 + 1.17 1.18 0.00 0.20 + 0.15 0.15 unch 0.32 0.33 0.44 0.44 0.07 0.07 unch 0.04 0.06 0.12 0.12 unch 0.02 0.02 unch 0.64 0.66 + 0.01 0.01 unch 0.00 0.01 0.03 0.03 unch 0.03 0.03 11.91 12.49 + 15.40 16.50 + 0.32 0.36 + 0.43 0.50 + 0.03 0.03 0.00 0.04 0.08 0.08 0.06 0.06 0.00 0.09 + 0.39 0.42 + 0.17 0.17 0.14 0.14 unch 0.03 0.03 unch 0.02 0.02 1.03 1.08 1.37 1.39 0.22 0.24 0.30 0.31 1.61 1.71 1.30 1.31 0.54 0.54 0.03 0.03 0.00 0.30 + 0.05 0.05 0.21 0.23 0.28 0.30 0.05 0.06 + 0.06 0.09 + 0.04 0.04 unch 0.02 0.04 -

0.00 0.01 0.01 0.00 0.01 0.00 0.03 0.03 0.01 0.08 0.02 0.06 0.60 0.00 0.26 0.02 0.00 0.01 0.01 0.04 0.00 2.24 0.03 0.01 0.01 0.01 0.00 0.05 0.00 0.00 0.10 0.00 0.00 0.01 0.00 0.01 0.02 0.00 0.02 0.01 0.00 0.00 0.01 0.03 0.06 0.16 0.07 0.02 0.00 0.01 0.01 0.00 0.00 0.00 0.00 0.02 0.00 0.00 0.00 0.01 0.11 0.22 0.02 0.05 0.00 0.01 0.01 0.01 0.01 0.01 0.02 0.00 0.00 0.00 0.04 0.10 0.01 0.03 0.02 0.04 0.08 0.02 0.03 0.01 0.03 0.02 0.02 0.02 0.00 0.00

High Low 0.19 0.25 0.19 0.08 0.09 0.24 0.50 0.67 0.76 0.99

0.06 0.09 0.07 0.01 0.02 0.06 0.07 0.10 0.03 0.01

0.73 14.52 0.12 6.50 0.50 1.00 0.72 0.72 1.29 3.00 14.50 1.32 0.99 0.03 0.45 0.00 0.27 0.20 0.15 13.67 0.02 0.31 0.41 0.64 0.21 0.25 0.06 0.08 0.09 0.11 0.06 0.08 0.28 0.33 1.39 1.75 0.31 0.22 0.41 0.54 0.11 0.09 0.15 0.03 0.80 0.01 0.10 0.04 0.07 16.09 21.04 0.40 0.53 0.06 0.08 0.35 0.11 0.15 0.48 0.31 0.15 0.10 0.08 1.45 1.90 0.36 0.48 2.93 2.14 0.93 0.10 0.52 0.12 0.35 0.50 0.07 0.21 0.06 0.05

0.22 4.54 0.03 2.07 0.05 0.39 0.27 0.05 0.35 0.01 0.25 0.80 0.56 0.01 0.05 0.00 0.10 0.03 0.04 6.49 0.00 0.09 0.14 0.06 0.03 0.03 0.00 0.01 0.03 0.04 0.02 0.03 0.03 0.03 0.20 0.27 0.10 0.08 0.15 0.20 0.03 0.01 0.03 0.00 0.21 0.00 0.00 0.02 0.02 2.88 4.02 0.11 0.17 0.01 0.01 0.08 0.03 0.04 0.20 0.04 0.02 0.01 0.01 0.36 0.51 0.09 0.14 0.24 0.16 0.05 0.03 0.13 0.05 0.10 0.16 0.03 0.02 0.02 0.01

(100s) Stock

/ OCTOBER 2 6 – N OV EM BER 3 , 2 0 2 0

12-month

High

1399 895 1428 6 132 1895 175 983 100 53 398 9926 37848 147 225 33 100 2403 8209 6621 1932 50632 167 177 896 878 47 48 1 13 94539 13657 43 266 101 136 866 5 471 14 651 326 1554 382 2364 235 488 62 10 39 147 670 181 40 10 107 12 369 8 653 199 869 41 557 3 79 637 191 194 368 161 27 8752 3027 1624 109 127 146 1881 551 1033 38 26 411 90 192 11 277 1176 1037

Last

M I N ER

Exc Volume

Week High

Low

12-month

Last

Change

High Low

W-Z Walcott Res Walcott Res* Walker Lane* Walker River* Walker River Wallbridge Mng* Wallbridge Mng Warrior Gold* Warrior Gold Waseco Res Wealth Mnrls* Wealth Mnrls Wescan Gldflds Wesdome Gold Wesdome Gold* West High Yld West Red Lake West Red Lake* West Vault Western Areas* Western Atlas Western Atlas* Western Copper Western Copper* Western Mag Western Mag* Western Potash Western Res* Western Troy C* Western Troy C Western U&V Western U&V* Westgold Res* Westhaven Gold Westhaven Vent* Westkam Gold* Westkam Gold Westminster Rs Westminster Rs* WestMountain* Wheaton Prec M Wheaton Prec M* White Energy* White Gold* White Gold White Metal R* White Metal Rs White Mtn Engy* Whitehaven Coa* Wildsky Res* Wildsky Res Winshear Gold Winston Gold* Winston Gold Winston Res Wolfden Res* Wolfden Res Wolfeye Res Worldwide Res X-Terra Res* X-Terra Res Xanadu Mines Xander Res Xiana Mng* Xiana Mng Ximen Mining Ximen Mining* Xplore Res Xtierra Inc Xtra-Gold Res* Xtra-Gold Res Yamana Gold Yamana Gold* Yorbeau Res ZEN Graphene* ZEN Graphene Zenith Explor Zephyr Mnls Zephyr Mnls* Zimtu Capital Zinc One Res * Zincore Mtls* ZincX Res* ZincX Res Zonte Metals* Zonte Metals

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

53 4 17 74 266 1231 6223 89 280 69 295 311 3 2018 226 158 878 353 156 67 117 138 451 1057 597 119 174 5 0 36 117 88 2 1196 199 1 9 11 0 1 3273 4181 812 226 1044 291 366 31 6 1 0 393 7490 10244 570 24 979 536 8 30 1624 70 151 3 5 186 3 61 233 107 337 13686 65819 2209 198 914 6 714 56 41 179 6 2 204 318 455

0.94 0.71 0.06 0.08 0.11 0.78 1.00 0.11 0.15 0.05 0.09 0.11 0.00 14.14 10.70 0.20 0.13 0.10 1.78 1.69 0.15 0.12 1.63 1.33 0.14 0.11 0.18 0.13 0.10 0.17 0.78 0.60 1.90 1.09 0.83 0.13 0.18 0.14 0.00 1.99 67.53 51.43 0.00 0.82 1.05 0.05 0.07 0.01 0.76 0.15 0.00 0.12 0.15 0.19 1.65 0.16 0.22 0.71 0.04 0.13 0.18 0.05 0.28 0.04 0.06 0.41 0.31 0.11 0.16 0.89 1.15 8.27 6.30 0.06 0.84 0.85 0.26 0.18 0.14 0.13 0.01 0.00 0.07 0.11 0.18 0.28

0.00 0.64 0.05 0.00 0.11 0.69 0.92 0.10 0.13 0.03 0.07 0.09 0.00 13.05 10.32 0.17 0.12 0.08 1.64 1.60 0.13 0.11 1.51 1.14 0.13 0.09 0.17 0.13 0.10 0.00 0.67 0.52 1.90 0.94 0.71 0.00 0.00 0.00 0.00 0.00 64.59 49.42 0.00 0.68 0.90 0.04 0.06 0.01 0.66 0.00 0.00 0.09 0.10 0.13 1.35 0.13 0.20 0.63 0.04 0.12 0.15 0.04 0.23 0.04 0.06 0.00 0.29 0.10 0.13 0.75 1.02 7.80 5.93 0.05 0.59 0.71 0.25 0.17 0.00 0.13 0.00 0.00 0.07 0.10 0.14 0.17

0.94 0.64 0.06 0.07 0.11 0.69 0.92 0.10 0.13 0.03 0.08 0.09 0.08 14.04 10.60 0.17 0.12 0.09 1.72 1.62 0.15 0.12 1.55 1.17 0.14 0.10 0.18 0.13 0.10 0.17 0.69 0.52 1.90 0.96 0.71 0.13 0.18 0.14 0.05 1.90 65.77 49.86 0.10 0.74 0.98 0.04 0.07 0.01 0.66 0.15 0.25 0.11 0.14 0.18 1.63 0.15 0.20 0.70 0.04 0.13 0.16 0.05 0.25 0.04 0.06 0.39 0.29 0.10 0.13 0.81 1.07 7.84 5.93 0.05 0.61 0.81 0.25 0.18 0.13 0.13 0.01 0.00 0.07 0.10 0.18 0.23

+ + unch + unch + + unch + unch + + + unch unch + + + unch unch unch unch unch + + + + unch + + + + + unch + + unch unch unch unch + + unch unch unch unch unch + +

0.04 0.05 0.01 0.01 0.00 0.06 0.06 0.01 0.01 0.02 0.00 0.01 0.00 0.16 0.03 0.03 0.01 0.01 0.00 0.02 0.02 0.00 0.03 0.07 0.01 0.01 0.01 0.00 0.00 0.01 0.06 0.05 0.05 0.10 0.10 0.01 0.00 0.00 0.00 1.05 1.18 1.17 0.00 0.00 0.01 0.00 0.01 0.00 0.10 0.00 0.00 0.01 0.03 0.05 0.19 0.00 0.01 0.04 0.00 0.01 0.02 0.01 0.02 0.00 0.00 0.02 0.02 0.00 0.01 0.02 0.03 0.26 0.24 0.00 0.02 0.04 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.04 0.06

0.95 0.72 0.20 0.14 0.19 1.01 1.35 0.11 0.15 0.07 0.29 0.38 0.12 15.00 11.37 0.30 0.21 0.17 1.94 2.17 0.19 0.14 1.95 1.53 0.23 0.17 0.39 0.24 0.10 0.33 1.10 0.84 1.90 1.25 0.93 0.19 0.26 0.18 0.06 7.00 76.69 57.89 0.11 2.00 1.34 0.05 0.07 0.05 2.32 0.20 0.26 0.20 0.17 0.20 2.25 0.25 0.32 1.28 0.07 0.18 0.25 0.10 0.45 0.29 0.40 0.80 0.60 0.11 0.23 1.15 1.54 9.29 7.02 0.08 0.63 0.85 0.70 1.15 0.88 0.18 0.10 0.00 0.11 0.16 0.28 0.37

0.09 0.17 0.02 0.05 0.06 0.25 0.33 0.03 0.03 0.02 0.05 0.07 0.03 5.85 4.10 0.07 0.04 0.02 0.45 1.15 0.04 0.04 0.44 0.31 0.09 0.07 0.13 0.11 0.10 0.05 0.25 0.15 1.00 0.35 0.25 0.10 0.08 0.04 0.05 1.00 26.99 18.66 0.03 0.29 0.41 0.00 0.02 0.01 0.63 0.04 0.01 0.05 0.00 0.01 0.05 0.05 0.07 0.43 0.02 0.03 0.03 0.01 0.04 0.02 0.04 0.26 0.20 0.10 0.03 0.20 0.40 3.11 2.23 0.02 0.17 0.26 0.02 0.15 0.12 0.08 0.00 0.00 0.04 0.06 0.12 0.16

BID-ASK — OCTOBER 12–16, 2020 12-MONTH STOCK

79 Resources African Metals Aftermath Silv Aguila Amer Gd Aiml Res Alacer Gold Aldever Res Allante Res Altair Res Inc American CuMo Amilot Capital Amseco Expl AMV Capital Anglo-Bomarc Antler Hill Archon Mineral Asbestos Corp Atlanta Gold Atlantic Indus Aurelius Min Aurex Energy Aurora Royal Avarone Metals Balto Res Banro Corp* Barker Min Barolo Venture BE Res Bearclaw Cap Bessor Min BHK Mining Big Dougie Blackheath Res Blue River Res Boss Power Brunswick Res Bullion Gold Cairo Res Camrova Res Canterra Mnls Cassius Vents Cassowary Cap Centurion Mnls Century Global Cerro de Pasc Chinapintza Mg Clarmin Explor Cleghorn Mnls Cliffmont Res Cliffs Nat Res* Clydesdale Res Comet Inds Constantine Mt Cresval Cap CROPS Currie Rose Rs CWN M’g Acq Cyntar Venture Cyprium Mng District Mines Duro Metals Dynasty Gold Edgemont Gold Edgewater Expl Electra Stone European Elect Eurotin Everton Res Excalibur Res Fabled Copper Finore Mng Fire River Gol

EXC

BID

ASK

LAST

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

0.11 0.06 0.24 0.31 0.14 9.41 0.11 0.16 0.03 0.06 0.04 0.05 0.16 0.08 0.05 0.11 0.40 0.03 0.02 0.13 0.04 0.04 ... 0.09 0.11 0.01 0.18 0.20 0.01 0.06 0.02 0.09 0.18 0.01 0.17 ... 0.06 0.36 ... 0.16 0.08 ... ... 0.10 ... ... 0.14 0.10 0.12 1.45 0.04 3.10 0.20 0.02 0.01 0.04 0.03 0.10 0.03 0.03 0.18 0.09 0.11 0.17 0.01 0.34 0.02 0.10 0.09 0.19 0.12 0.03

0.12 0.09 0.25 0.46 0.29 9.52 0.15 ... 0.04 0.07 0.06 0.08 0.20 0.08 0.05 0.27 0.85 0.04 0.03 0.14 0.06 0.05 ... 0.10 0.11 0.01 0.18 0.20 0.03 0.08 0.02 0.30 0.24 0.02 0.20 0.09 0.15 0.87 0.01 0.17 0.14 ... 0.20 0.18 ... ... 0.14 0.12 0.18 3.20 0.07 3.65 0.21 0.02 0.01 0.04 0.06 0.38 0.03 ... 0.38 0.10 0.12 0.20 0.02 0.49 0.03 0.10 0.10 0.19 0.12 0.07

0.11 0.06 0.25 0.34 0.29 9.47 0.13 0.16 0.03 0.06 0.05 0.05 0.15 0.15 0.06 0.27 0.80 0.03 0.02 0.14 0.05 0.04 0.04 0.09 0.11 0.01 0.27 0.20 0.01 0.08 0.02 0.06 0.18 0.01 0.17 0.03 0.10 0.21 0.07 0.17 0.10 0.05 0.07 0.15 0.29 0.26 0.14 0.10 0.12 1.43 0.03 3.20 0.21 0.03 0.02 0.04 0.05 0.19 0.03 0.12 0.18 0.10 0.11 0.17 0.01 0.47 0.02 0.03 0.10 0.07 0.11 0.09

HIGH

12-MONTH

LOW

STOCK

First Idaho Freedom Egy Full Metal Mnl Fusion Gold Galore Res GAR Limited General Moly* Gentor Res GFM Res GK Resources Global Cop Grp Go Cobalt GobiMin Goldbank Mng Goldbelt Emp Goldblock Cap Golden Indepen GoldHaven Res Graphite Egy Great Lakes Gr Great Quest Fe Green Arrow Green Valley M Greenshield Ex Grosvenor Res GrowMax Res Gunpoint Expl Handa Mining HFX Holding Highbury Proj Highvista Gold Hylands Intl Indico Res Inspiration Mg Inter-Rock Mnl Intl Battery Iron South Mng Ivor Explor Jiulian Res Jubilee Gold K9 Gold Karora Res Kermode Res Knick Expl Kodiak Copper La Imperial Latin Metals Le Mare Gold Leo Res Liberty One Li Lida Resources Madeira Mrnls MAG Silver* Major Precious Margaret Lake Mariner Res Matachewan Con Maya Gold &Sil McChip Res Mega Copper Metalo Manuf Metalore Res Micrex Dev Midasco Cap MillenMin Vent Minecorp Egy Mineral Hill Minsud Res Mongoose Mg Montana Gold MPV Explor Napier Vent

0.15

0.10

0.33 0.50 0.31 10.82 0.22

0.05 0.12 0.10 3.50 0.05

0.04

0.01

0.06 0.08 0.20

0.01 0.02 0.07

0.09 0.41 0.99 0.04 0.03 0.15 0.16 0.08 0.15 0.19 2.10

0.04 0.10 0.30 0.03 0.01 0.03 0.03 0.02 0.03 0.03 0.10

0.33 0.25 0.02 0.10

0.18 0.09 0.01 0.03

0.10 0.22 0.02

0.07 0.05 0.01

0.47 0.35

0.09 0.20

0.30 0.10 0.05 0.11 0.19 0.34 0.26 0.18 0.12 0.13 7.17 0.05 3.50 0.29 0.08 0.04 0.05 0.21 0.21

0.05 0.04 0.01 0.04 0.05 0.12 0.07 0.05 0.03 0.05 0.98 0.01 3.00 0.12 0.02 0.01 0.02 0.03 0.08

0.24 0.27 0.14 0.14 0.20

0.05 0.11 0.04 0.10 0.04

0.60 0.04

0.05 0.01

0.11 0.16

0.01 0.03

EXC

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

BID

0.12 0.02 0.14 0.01 0.01 ... ... 0.05 0.10 0.12 0.07 0.05 0.26 0.12 0.01 0.17 ... ... ... 0.05 ... 0.02 0.26 0.14 0.17 0.04 0.67 0.03 0.02 0.22 ... 0.03 ... ... 0.37 ... 0.24 0.32 0.14 0.53 0.17 0.47 0.02 0.01 0.05 0.08 0.03 0.01 ... 0.06 ... ... 12.52 ... 0.03 ... 0.13 1.94 0.43 0.14 0.15 2.65 0.02 0.07 ... ... 0.15 0.06 0.06 0.09 0.12 0.06

12-MONTH

ASK

LAST

HIGH

LOW

STOCK

0.33 0.02 0.14 ... 0.03 ... ... 0.07 0.14 0.13 0.08 0.08 0.29 0.16 0.35 0.20 ... ... ... 0.05 0.01 0.03 0.28 0.18 0.24 0.04 0.81 0.04 ... 0.50 ... 0.07 0.01 ... 0.40 ... 0.27 0.35 0.14 0.74 0.24 0.48 0.02 0.01 0.06 0.15 0.04 0.01 ... 0.06 ... ... 13.30 ... 0.04 ... 0.16 2.19 0.50 0.26 0.28 3.44 0.02 0.09 0.49 ... 0.20 0.10 0.20 0.10 1.50 ...

0.12 0.01 0.10 0.17 0.03 0.15 0.11 0.03 0.15 0.13 0.08 0.08 0.29 0.15 0.02 0.16 0.38 0.42 0.47 0.04 0.10 0.02 0.28 0.14 0.16 0.09 0.78 0.03 0.01 0.23 0.17 0.03 0.01 0.03 0.40 0.31 0.24 0.38 0.09 0.70 0.24 0.48 0.01 0.01 0.05 0.09 0.03 0.09 1.09 0.07 0.24 0.03 12.52 0.42 0.03 0.59 0.14 2.01 0.45 0.14 0.24 2.65 0.01 0.08 0.05 0.12 0.15 0.06 0.05 0.10 0.16 0.07

0.12

0.03 4.13 100.00 0.06 0.15 0.17 0.11 0.16 0.35 0.19

0.01 0.13 0.10 0.03 0.05 0.11 0.04 0.02 0.20 0.09

0.16 0.40 0.45 0.47

0.12 0.05 0.06 0.42

0.04 0.40 0.20 0.20

0.02 0.05 0.13 0.09

0.93 0.05 0.01 0.30

0.43 0.02 0.01 0.22

0.06

0.03

Navis Res Corp Nebu Res New Klondike Newmac Res Nexco Res Norse Gold Northway Res Nrthn Lion Omai Gold Optimus Gold Ord Mountain Pac Arc Res Pan Andean Min Parallel Mng Parlane Res Philippine Mtl Primary Energy Prime Meridian ProAm Expl Quantum Cobalt Quartz Mtn Res Quinto Res Rare Element* Razore Rock Res Red Oak Mining Reliant Gold Remington Res Rizal Res Rockex Mng Rockland Mnls Ross River Sage Gold Samco Gold Sanatana Res Secova Mtls Sennen Potash Sierra Madre Silver Phoenix Skarb Explor SouthGobi Res Southstone Min St. James Gold Stans Energy Stria Lithium Surge Explor Tajiri Res Taranis Res Tearlach Res Thunder Mtn Gd Tiger Intl Tri-River Vent TriMetals Mng Tymbal Res Ubique Mineral Vale* ValOre Metals Vatic Vent Venerable Vent Viking Gold Whitemud Res Winshear Gold Xiana Mng Yukoterre Res Zadar Ventures Zara Res Zena Mining Zenith Explor Zinc One Res Zinco Mng Zincore Mtls

0.45

0.16

0.28 0.40 0.09 0.78 0.28 0.73 0.02

0.04 0.20 0.01 0.38 0.16 0.20 0.01

0.13 0.12 0.16 0.09

0.04 0.01 0.02 0.04

0.08 0.27

0.04 0.13

14.40 0.42 0.09 0.62 0.18 2.50 0.57 0.29 0.30 3.65

6.12 0.02 0.02 0.13 0.10 0.82 0.39 0.02 0.07 1.00

0.15

0.07

0.20

0.07

0.15 0.15 0.10 0.16 0.19

0.01 0.05 0.02 0.06 0.04

EXC

BID

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

... 0.04 0.01 0.06 0.13 0.10 0.15 0.38 0.02 0.13 0.30 0.02 ... 0.14 0.07 0.01 ... 0.07 0.08 ... 0.15 0.07 0.11 0.07 0.10 ... 0.18 0.01 0.02 0.07 ... 0.01 0.01 0.24 0.05 ... 0.11 0.11 0.11 ... 0.01 0.15 0.01 0.03 0.39 0.19 0.10 0.10 0.11 0.09 ... 0.11 0.04 0.04 ... 0.06 0.05 0.11 0.31 0.01 0.12 0.05 ... 0.33 ... 0.08 0.30 0.01 0.05 ...

ASK

... 0.04 0.01 0.08 0.20 0.13 0.33 0.48 0.02 0.18 0.30 0.25 0.08 0.15 0.07 0.01 ... 0.07 0.15 ... 0.19 0.07 0.16 0.09 0.10 ... 0.27 0.02 0.03 0.08 0.35 0.01 0.01 0.30 0.06 1.10 0.17 0.15 0.89 0.10 0.01 0.25 0.01 0.03 0.44 0.19 0.11 0.12 ... 0.14 ... 0.12 0.04 0.06 ... 0.07 ... 0.20 0.45 0.02 0.14 0.06 ... 0.33 ... 0.13 0.44 0.02 0.07 0.40

LAST

0.30 0.04 0.01 0.06 0.13 0.10 0.14 0.45 0.01 0.15 0.20 0.16 0.09 0.15 0.07 0.06 0.17 0.07 0.09 1.10 0.14 0.08 0.15 0.09 0.10 0.02 0.15 0.02 0.03 0.08 0.26 0.02 0.05 0.25 0.05 0.45 0.12 0.10 0.28 0.09 0.01 0.22 0.01 0.02 0.39 0.19 0.11 0.10 0.09 0.10 0.04 0.12 0.04 0.06 10.24 0.07 0.10 0.12 0.31 0.02 0.14 0.06 0.10 0.30 0.07 0.08 0.25 0.01 0.05 0.05

HIGH

LOW

0.09 0.16 0.17 0.17 0.45

0.03 0.06 0.02 0.05 0.10

0.15 0.25 0.27 0.10 0.23 0.10 0.09 0.82 0.10 0.15 3.15 0.24 0.08 0.89 0.10 0.15

0.01 0.06 0.16 0.04 0.10 0.02 0.02 0.16 0.04 0.05 0.20 0.05 0.02 0.06 0.04 0.05

0.35

0.07

0.05 0.11

0.02 0.01

0.40 0.06

0.08 0.03

0.20 0.25 1.00 0.20 0.04 0.27 0.02 0.03 0.23 0.23 0.12 0.20 0.29 0.20

0.04 0.10 0.11 0.06 0.01 0.05 0.01 0.01 0.03 0.03 0.04 0.07 0.07 0.07

0.12 0.06 0.06 11.10 0.13

0.03 0.02 0.03 6.57 0.07

0.15 0.59 0.03 0.15 0.40 0.15 0.35 0.22 0.15 0.70 0.03

0.03 0.28 0.01 0.05 0.04 0.08 0.08 0.07 0.04 0.02 0.01

OCTOBER 2 6 â&#x20AC;&#x201C; N OV EM BER 3 , 2 0 2 0

/ TH E N OR TH ER N

M I N ER

W . N OR TH ER N M I N ER . COM