The Northern Miner September 2 2019 Issue 18 by The Northern Miner Group

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Proposed Pala deal undervalues Cobalt 27: Anson Funds

Coro dusts off new copper find SITE VISIT

| Marimaca resource update coming later this year

M&A

| Special meeting of shareholders scheduled for Sept. 12 BY TRISH SAYWELL tsaywell@northernminer.com

n June, Cobalt 27 Capital’s (TSXV: KBLT) board agreed to a $501-million takeover offer from Pala Investments, which already owns 19% of the company. Cobalt 27 has a cobalt stream on Vale’s(NYSE:VALE)world-classVoisey’s Bay nickel-copper-cobalt mine in Labrador beginning in 2021; holds an 8.5% joint-venture interest in the producing Ramu nickel-cobalt mine in Papua New Guinea; owns one of the world’s largest stockpiles of physical cobalt; and manages a portfolio of 11 royalties on mineral properties containing battery metals. Under the proposed deal, Cobalt 27 shareholders would receive $5.75 per common share, consisting of $3.57 in cash, plus one share of a newly listed company,Nickel28CapitalCorp.,valued at $2.18 per share. The new entity would be funded with US$5 million in cash and hold Cobalt 27’s interest in the Ramu mine, its royalty portfolio on future projects, and its equity position in Giga Metals (TSXV: GIGA; US-OTC: HNCKF). What won’t be transferred to Nickel 28 are two of Cobalt 27’s most valuable assets — its physical inventory of cobalt and its stream on Voisey’s Bay, both of which Pala will keep. Anson Funds, a long-standing shareholder in Cobalt 27, warns that the deal undervalues the company. The privately held asset manager See PALA / 2

Coro Mining president and CEO Luis Tondo and exploration manager Paola Kovacic at the Marimaca copper project in Chile’s Antofagasta department. PHOTO BY TOM AZZOPARDI BY TOM AZZOPARDI Special to The Northern Miner MEJILLONES, CHILE

oro Mining (TSX: COP) could soon be building Chile’s newest copper mine. You would think someone would have already looked here. High in the arid hills above the Chilean port of Mejillones, where metal from some of the world’s largest copper operations is shipped to Asia, a mining junior thinks it has found the country’s next mine. Coro Mining is rapidly advancing Marimaca, an expanding copper oxide system with the potential to enter production in less than four years.

A ONCE-IN-A-CENTURY RAINFALL WASHED AWAY DECADES OF DUST TO UNVEIL MOUNTAINSIDES STREAKED WITH THE TELLTALE BRIGHT GREENS AND TURQUOISES. “We are already attracting the attention of large mining companies with whom we could form a joint venture,” the company’s Brazilian president and CEO Luis Tondo told reporters on a recent visit to the site. Lower and older than the Andes, northern Chile’s coastal range is one of the world’s most prolific copper districts. Nearby mines include Glencore’s Lomas Bayas mine, the 60-year-old

Santiago, Chile • October 7–10, 2019

South American Metallogeny: Sierra to Craton

PM40069240

Mantos Blancos operation, now owned by Mantos Copper, and Haldeman Mining’s Michilla. But geological prejudice meant most mining companies wrote off Marimaca’s potential to host significant mineralization, despite decades of artisanal mining activity in the area. As almost all copper discoveries See CORO / 8

Time is running out

LYDIAN INT’L: MAKES PROGRESS IN ARMENIA DESPITE PROTESTS / 5

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Cobalt 27 Capital chairman and CEO Anthony Milewski holds cobalt briquettes at a Rotterdam warehouse in 2018. COBALT 27 CAPITAL

Vale’s Voisey’s Bay nickel-cobalt-copper mine in Labrador, where Cobalt 27 Capital holds a cobalt stream. VALE

Proposed Pala deal undervalues Cobalt 27: Anson Funds PALA From 1

argues the transaction “effectively results in the sale of the company’s crown jewel asset — the Voisey’s Bay cobalt stream, to a related party at fire-sale prices, and without paying a control premium.” Anson calculates that the sale price of the Voisey’s Bay stream is US$180 million, “which represents a 40% discount to the price that the company’s board of directors and management paid for the stream one year ago. “In addition, the transaction effectively crystallizes losses in excess of US$225 million on the sale of physical cobalt and the Voisey’s Bay stream, representing a loss of almost 50% of cost,” Anson said in a press release. “Anson is perplexed as to why the company has entered into an agreement with a related party to liquidate both its physical inventory and its crown jewel royalty stream, at a time when cobalt prices are near five-year lows,” the fund noted. “Despite management’s poor track record of capital allocation and the current cyclical low in cobalt prices, Cobalt 27 is in sound

Bulk-sampling activity at RNC Minerals’ Dumont nickel-cobalt property in Quebec. Cobalt 27 Capital has a 1.75% net smelter return royalty on the asset.

financial condition, with positive working capital in excess of US$50 million — inclusive of the value of their physical cobalt inventory.” Anthony Milewski, Cobalt 27’s chairman and CEO, declined to comment on Anson’s claims. He also declined to comment on

Tungsten Opportunity – Cantung and Mactung Request for Qualifications Alvarez & Marsal Canada Inc. in its dual capacity as advisor to the Government of the Northwest Territories and Government of Canada (together the “Governments”) and the Court-appointed Monitor of North American Tungsten Corporation Inc. (“NATC”) have commenced a Competitive Selection Process (“CSP”) to identify a qualified proponent that will enter into certain arrangements with the Governments and NATC which may involve: (i) the purchase of the Mactung Deposit and the Cantung Mine on an “as is, where is” basis and (ii) the management of environmental liabilities at the Cantung Mine site. The purpose of this Request for Qualifications (“RFQ”) is to identify a shortlist of interested and qualified parties or consortia who will then be invited to participate in the next stage of the CSP, the Request for Proposals, from which the successful proponent will be selected.

entitlements and benefits to certain employees and consultants of the company that will be triggered under a change of control provision. If the transaction is approved, Milewski will receive US$7.7 million, while Justin Cochrane, the company’s president and chief operating officer, will be entitled to US$5.3 million. Cobalt 27 filed its management circular seeking approval for the acquisition on Aug. 14. In a press release, the company stated that the deal represents a 66% premium to the company’s closing share price on June 17, and a 46% premium to its 20-day, volume-weighted average trading price. Management noted that the cash component of the deal was “significant,” and “delivers immediate liquidity and value certainty” to its shareholders “at a time of significant market volatility and amidst an uncertain outlook for cobalt prices and the global economy, and at an implied cobalt price well in excess of the spot average price of US$12.53 per lb., as of July 31, 2019. “In the latter half of 2018, cobalt prices began to decline significantly, and by June 2019, prices had fallen

Please note that the deadline for submitting responses to the RFQ is 5pm PDT on September 30, 2019.

Geologist/Prospector based in Sudbury

Details of the opportunity and the CSP are set out in the RFQ which is available at www.alvarezandmarsal.com/northamerican. The contact person for this RFQ is Callum Beveridge – by email tungsten@alvarezandmarsal.com, telephone at 604.638.7447 or fax at 604.638.7441.

Seeking to extend gold streak before field season ends.

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“ANSON IS PERPLEXED AS TO WHY THE COMPANY HAS ENTERED INTO AN AGREEMENT WITH A RELATED PARTY TO LIQUIDATE BOTH ITS PHYSICAL INVENTORY AND ITS CROWN JEWEL ROYALTY STREAM AT A TIME WHEN COBALT PRICES ARE NEAR FIVE-YEAR LOWS.” ANSON FUNDS COBALT 27 CAPTIAL SHAREHOLDER

66% from their April 2018 peak of US$44.10 per lb. to US$15.12 per lb.,” the press release read. “The board and special committee’s knowledge of cobalt supply-demand dynamics informed their view that a sustained rebound in cobalt prices in the short- to medium-term is unlikely.” Coba lt 27 a lso pointed out that the company’s shareholders, through their ownership of shares in Nickel 28, “will continue to be exposed to the electric vehicle revolution,” and pointed out that since the arrangement was announced, and as of Aug. 8, “nickel prices have increased by approximately 33%, while cobalt prices have decreased by approximately 13%. “Nickel 28 is valued at $2.18 per share, which is comprised of the purchase price that Cobalt 27 paid for each of the assets being transferred to Nickel 28, plus an enhanced value for the Dumont royalty, which recently released an updated feasibility study,” Cobalt 27’s press release stated. “These as-

sets are primarily leveraged to the price of nickel, and all of these assets were purchased in a substantially lower nickel price environment.” Management also said that if the deal is approved, Pala will repay, at closing, up to US$48.5 million of net corporate debt, and, “absent the transaction, Cobalt 27 would need to service and repay the majority” of the debt “using its own resources.” Apart from Pala’s offer, Cobalt 27 received three non-binding proposals for alternative transactions, the company added, “however, none of the proposals were for an acquisition of Cobalt 27 as a whole, and each proposal was for total cash consideration less than the cash component per share of Pala’s offer.” The annual general and special meeting of shareholders is scheduled for Sept. 12. At press time, Cobalt 27 traded at $3.85 per share in a 52-week range of $3.27 to $7.02. The company has 85.5 million common shares outstanding for a $329-million market capitalization. TNM

2019-08-27 7:02 PM

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‘Logic and law will prevail’ in dispute, Plateau Energy Metals’ CEO says LITHIUM, URANIUM

| Concession questions drag down junior’s share price

BY JEAN LIAN

jlian@northernminer.com

lateau Energy Metals (TSXV: PLU) has lost its appeal to overturn a decision by the Instituto Geológico Minero y Metalúrgico (Ingemmet) to cancel 32 of its 149 concessions in Peru. Ingemmet is an agency under Peru’s Ministry of Energy and Mines. The 32 concessions represent 231 sq. km, or less than 25% of Plateau’s 930 sq. km land package in Peru. Of the 32 concessions, one affects the Falchani lithium project, six impact the Macusani uranium project, and the other 25 concessions cover exploratory grounds. Ingemmet’s decision to cancel the 32 concessions stemmed from the timing of concession fee payments. The company says the issue arose from administrative delays and errors related to the Ministry incorrectly applying penalties to the company for underspending on work commitments at the concessions in question. The company launched an appeal to overturn Ingemmet’s decision. The Ministry held two hearings for the appeal on June 20 and 26, 2019. On July 31 and Aug. 6, Plateau announced that their appeal has been rejected, despite the company making the necessary payments on time to the National Bank and receipted by Ingemmet. Subsequent appeals to reconsider the facts and arguments have been made. Gabriel Gonzalez, an analyst at Echelon Wealth Partners in Toronto, says the Energy and Mines Ministry’s rejection of the appeal “harmed Plateau Energy Metal’s ability to protect its rights and register its concession payments in compliance with regulatory requirements.” A research report from Haywood Capital Markets dated Aug. 1 placed Plateau under review, pending clarity on the concession issues. “We are hitting pause on this investment thesis in the wake of the concession dispute, awaiting clarity on … Plateau’s strategy, cost and process to ultimately retain the concessions,” the report says. Plateau’s CEO Alex Holmes says the company has three months to launch another appeal. “We have not lost the concessions at this point in time,” Holmes says in an interview with The Northern Miner on Aug. 13. He adds that the process could be administrative, since the appeal was not rejected through a court of law. Holmes says the company will pursue all options available to resolve the matter. “At the end of the administrative procedure, if the outcome is still not favourable to us, then there is the judicial path which we can pursue.” At the Falchani lithium project, on the Macusani Plateau in the Puno district of Peru, where only one concession is among the 32 in question, 80% of the project’s indicated resource has not been impacted, the company notes. Falchani hosts an indicated resource of 61 million tonnes at 0.64% lithium oxide and 1.57% lithium carbonate equivalent, for 390,000 contained tonnes lithium oxide and 960,000 tonnes lithium carbonate equivalent. Inferred resources total 260 million tonnes at 0.58% lithium oxide and 1.44% lithium carbonate for 1.52 million contained tonnes lithium oxide and 3.75 million tonnes lithium carbonate.

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“WE HAVE NOT LOST THE CONCESSIONS AT THIS POINT IN TIME ... WE ARE GOING TO LET THE APPEAL PROCESS PLAY ITSELF OUT AND SEE WHAT THE OUTCOME IS.” ALEX HOLMES CEO, PLATEAU ENERGY METALS

Plateau Energy Metals’ property in Peru. PLATEAU ENERGY METALS

The company has several other properties on the Macusani Plateau, which are mostly uranium properties. These exploration properties are collectively known as the Macusani project, which is 650 km southeast of Lima and 25 km from Macusani, the closest town. Recent lithium surface discoveries at Tres Hermanas and Quelcaya are also outside of the 32 concessions. Holmes said the company has put a pause on the preliminary economic assessment (PEA) for Falchani, pending the outcome of the appeal. For the Macusani uranium project, two of the six concessions under administrative procedure are not included in the project’s January 2016 PEA. The remaining four concessions that were included in Macusani’s PEA represent 52% of the uranium project’s indicated and inferred resources. At 0.0 075% ura niu m ox ide (U3O8) cut-off grade, the Macusani uranium project has a measured and indicated resource of 95 million tonnes grading 0.0248% U3O 8 for 52 million contained lb. U3O 8 . Inferred resources add 130 million tonnes grading 0.0251% U3O8 for 72 million contained lb. U3O 8 . The latest development has cast a pall over the two projects, which Holmes says could produce highquality products, and are key to economic development in Puno in southern Peru. “We are going to let the appeal process play itself out and see what the outcome is,” Holmes says.

University students visiting the Ingemmet building in Lima, Peru. INGEMMET

“Logic and law will prevail here.” On Aug. 19, the company announced it finished filing appeals to the Mines and Energy Ministry “requesting the recent administrative resolutions issued with respect to its 32 concessions be overturned.” Plateau’s shares took a tumble on the concession-dispute news and at press time traded at 29¢ each, giving the company a $23-million valuation. In the past 52 weeks shares have ranged from 24¢ to $1.27. TNM

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E D I T O R IA L Musings on Greenland, tariffs and inverted yield curves

O P- E D

EDITORIAL

| U.S. President Donald Trump’s tweets send waves through global markets

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n late August the U.S. president abruptly cancelled an upcoming state visit to Denmark after the Danes rebuffed his proposal to buy Greenland, a semiautonomous Danish territory strategically located between the North Atlantic and Arctic Ocean, and rich in natural resources BY TRISH SAYWELL like uranium and rare earths. tsaywell@northernminer.com “If he is truly contemplating this, then this is final proof that he has gone mad,” Soren Espersen, the foreign affairs spokesman for the Danish People’s Party, told DR, a Danish broadcaster. “We’re open for business, not for sale!” Greenland’s Foreign Affairs Ministry tweeted. Trump countered: “Essentially, it’s a large real-estate deal.” He then tweeted a photograph of a golden skyscraper inscribed with the Trump logo, towering over a serene Arctic village, with the tagline: ‘I promise not to do this to Greenland.’” But when Prime Minister Mette Frederiksen called his overtures absurd, he got a little defensive. “I thought the prime minister’s statement that it was an absurd idea was nasty,” Trump stated during a press conference on Aug. 21. “It was not a nice way of doing it. She could have just said, ‘No, we’d rather not do it.’ She’s not talking to me, she’s talking to the United States of America! They can’t say: ‘How absurd.’” He then criticized the U.S. ally — claiming its contributions to NATO were subpar. “For the record, Denmark is only at 1.35% of GDP for NATO spending,” Trump said in a tweet. “They are a wealthy country and should be at 2%. We protect Europe, and yet, only eight of the 28 NATO countries are at the 2% mark.” For all his talk about Greenland, Trump knows his real problems lie closer to home. Markets declined yet again on Aug. 23, when Beijing said it would raise tariffs on US$75-billion worth of American goods on Sept. 1 — further evidence that Trump’s year-long trade conflict with the Asian juggernaut is taking its toll, and that his claim that trade wars are “good and easy to win” may prove more difficult than previously thought. Calling Chairman Xi Jinping’s move “politically motivated,” Trump tweeted after markets closed that he would raise existing tariffs on US$250 billion of Chinese goods from 25% to 30%, effective Oct. 1, and that he would tax another US$300-billion worth of Chinese goods at 15% instead of 10%, starting on Sept. 1. He then called on U.S. companies to stop doing business in China and make their products at home. Trump saved much of his invective, however, for U.S. Fed Chair Jerome Powell, who signalled at meetings in Jackson, Wyo., also on Aug. 23, that he has no immediate intention of cutting interest rates to help buffer the U.S. against the escalating trade conflict. “My only question is,” Trump said in a tweet, “who is our bigger enemy, Jay Powell, or Chairman Xi?” Despite Trump’s assertions that the U.S. economy is humming like a fine-tuned engine, the truth is, the outlook is signalling concern and uncertainty. Recent news of an inverted yield curve — the first since 2007 — is a clear warning sign. An inverted yield curve is when interest rates on short-term bonds are higher than on long-term bonds. Economists like Paul Krugman, a columnist for The New York Times, point out that inverted yield curves predicted six of the last six recessions. “Neither I nor anyone else is predicting a replay of the 2008 crisis,” Krugman penned. “It’s not even clear whether we’re heading for recession. But the bond market is telling us that the smart money has become very gloomy about the economy’s prospects.” If Trump was uneasy, he tried his best not to show it. “We’re very far from a recession,” he insisted. Nevertheless, his administration has confirmed that it is considering measures to boost the economy, such as a payroll tax cut. As for his real-estate ambitions, who knows where they may lead him next. At a press conference in Tokyo with Japanese Prime Minister Shinzo Abe in May, The New York Times reported that Trump described North Korea as “all waterfront property — it’s a great location, as we used to say in the real-estate business.” TNM

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

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

COMPANY INDEX Agnico Eagle Mines. . . . . . 10,13 Americas Silver . . . . . . . . . . . . 6 ATAC Resources . . . . . . . . . . 15 Cobalt 27 Capital. . . . . . . . . . . 1 Coro Mining. . . . . . . . . . . . . . . 1 Eldorado Gold. . . . . . . . . . . . 16 Endeavour Silver. . . . . . . . . . . 6 Excellon Resources. . . . . . . . 11 Fireweed Zinc. . . . . . . . . . . . . 15 First Majestic Silver. . . . . . . . . 6 Giga Metals. . . . . . . . . . . . . . . . 1

Impact Silver. . . . . . . . . . . . . . 11 Integra Resources. . . . . . . . . . 16 Kinross Gold. . . . . . . . . . . . . . 16 Leagold Mining. . . . . . . . . . . 11 Lydian International. . . . . . . . 5 McEwen Mining . . . . . . . . . . 11 Mexican Gold. . . . . . . . . . . . . 11 Minera Alamos. . . . . . . . . . . .11 Nevada Copper . . . . . . . . . . . . 7 Pan American Silver. . . . . . . . 6 Plateau Energy Metals. . . . . . . 3

Premier Gold Mines. . . . . . 6,13 Sandstorm Gold. . . . . . . . . . . . 6 Sierra Metals. . . . . . . . . . . . . . 11 SilverCrest Metals . . . . . . . . . 14 Southern Silver Exploration. 11 SSR Mining. . . . . . . . . . . . . . . 14 Telson Mining . . . . . . . . . . . . . 9 Vale. . . . . . . . . . . . . . . . . . . . . . . 1 Victoria Gold. . . . . . . . . . . . . 15 Western Copper and Gold. . 15

Security measures critical amid heightened risk in West Africa COMMENTARY

| A variety of factors keep threat levels high in region

The following is a summary of conclusions coming out of the West Africa Mining Security Conference provided by the Australian High Commission in Accra and the Australia-Africa Minerals & Energy Group, which represents Australian companies engaged in the development of Africa’s resource industry.

ore than 78 mining companies based in Australia came together in Accra in June to consider solutions to the deteriorating security situation in West Africa, particularly in Burkina Faso, Mali and Niger. The convening event, the West Africa Mining Security Conference, sought to equip business leaders to make more informed security and investment decisions around the threats and risks to their operations. “With the mining industry in the region facing threats from kidnapping for ransom, direct action raids and denial of access attacks, companies are encouraged to engage in risk management and mitigation, and complete risk assessments and a risk registry,” said William Witham, CEO of the Australia Africa Minerals and Energy Group. Hosted collaboratively with the Department of Foreign Affairs and Trade, and the Australian Strategic Policy Institute, discussion focused on greater industry collaboration, information sharing and collective action against the backdrop of underlying drivers, including: impacts of the 2011 Libyan uprising; partial displacement of Islamic State (IS) from Iraq and Syria into West Africa; the 2014 fall of the Blaise Compaoré regime in Burkina Faso; and challenges confronting the United Nations’ multidimensional integrated stabilization mission in Mali (MINUSMA) peacekeeping initiative. While threats over the past 12 months have shifted from historic religious drivers to varied and overlapping factors, including income and protection, growing risks exist where terrorist groups (Ansaroul Islam, Jama’at Nasr al-Islam wal Muslimin [JNIM] and IS in the Greater Sahara), new violent extremist groups and coalitions are increasing the tempo

FALLOUT FROM THE LIBYAN UPRISING IN 2011 CONTINUES TO AFFECT WEST AFRICA. of complex attacks via local disgruntled groups. These terrorist groups are focused on addressing the concerns of local communities and exploiting community divisions and regional vulnerabilities, often engaging a combination of intimidation, exploitation of ethnic tensions and financial control to gain influence. “Unfortunately, large ransoms paid by some countries and people have helped sustain terrorist activity, and we are worried that it is possible that extremist groups will shift focus to commercial targeting in the future. This requires a more securitized approach to mining operations, and the Australian High Commission — in consultation with other stakeholders — will explore opportunities for further mining industry-wide initiatives to improve safety and security for personnel and assets in the region,” said Glen Askew, Australian High Commission, Chargé d’affaires. The West Africa Mining Security conference was held under Chatham House rules (meaning feedback and discussions at the event were anonymous.) Fallout from the Libyan uprising in 2011 continues to affect West Africa. Breaches of Gadhafi’s weapons caches led to an unprecedented flow of black market weapons into the region. The resulting instability led to a coup d’état in Bamako in 2012, which allowed Al-Qaeda in the Islamic Maghreb (AQIM) and later IS-affiliated factions to expand south into Mali and Burkina Faso. The recent disruption of IS in Iraq and Syria has partly displaced the problem to other theatres. Although there is little evidence of a widespread influx of IS fighters into West Africa, AQIM and IS-affiliated groups have increased their presence in the region. In

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GLOBAL MINING NEWS

Niger, IS in the Greater Sahara has recently renewed its pledge of support for the central leadership of IS and increased attacks against government targets north of Niamey. The fall of the Compaoré regime in 2014 eroded the capacity of Burkina Faso’s security and intelligence apparatus to respond to terrorist threats. At the same time, community discontent with the government and high rates of poverty allowed the expansion of inf luence of terrorist groups in some regions. While Burkina Faso’s small, poorly equipped and poorly trained military and police lack the capacity to respond effectively to the threat, there is little appetite within the international community to provide major military assistance. Overall, the security outlook in Burkina Faso is poor. In Mali and Burkina Faso, multilateral security operations engage in active targeting, training and containment, but are unlikely to have a strategic affect. MINUSMA, which is the UN’s deadliest peacekeeping mission, faces major challenges, including the strength of its mandate, poor intelligence sharing among contributing states, inconsistencies in troop capabilities, and limitations on logistics and mobility. The capacity of the Malian military is extremely constrained, including weapons with no ammunition, trucks with no fuel, insufficient rations and absent leadership. There are no plans to expand the current peacekeeping operations in Mali to directly address the terrorist threat. In this context, security in parts of West Africa — particularly in Burkina Faso, Mali and Niger — has deteriorated further in the past 12 months. Terrorist groups, often acting in concert with local bandits, have occupied large areas of east and southeastern Burkina Faso since mid-2018. New violent extremist groups and coalitions have formed and expanded beyond the Sahel and increased the tempo of complex attacks on symbolic targets. To date, there has been an overemphasis on religion as a driver of recruitment and radicalization. Rather, multiple and overlapping factors, such as income and protection, particularly in locations where the state is absent or contested, are more significant drivers of recruitment. Terrorist groups increasingly focus on addressing the concerns of local communities and exploit community divisions and regional vulnerabilities. Groups often respond to local needs faster and more effectively than the state, and use a combination of intimidation, exploitation of ethnic tensions and financial control to gain influence. Violent extremist groups are segmented, which provide opportunities to engage differently with potential foot soldiers or leaders. To address the threat effectively, military intervention is sometimes necessary, but always insufficient without broader community-focused, political and economic strategies. Terrorist groups effectively use kidnap for ransom (KFR) attacks to

West Africa map. ISTOCK/LORENZOT81

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THE NORTHERN MINER / SEPTEMBER 2–15, 2019

raise funds. Large ransoms paid by some countries have helped sustain terrorist groups and fund their operations. Other sources of terrorist financing include trans-Saharan smuggling, taxation, extortion, theft and external financing. The illegal artisanal gold trade has been flagged as a potential source of funding in Mali and Niger, and Burkina Faso. The potential “spillover” of insecurity from Burkina Faso represents a challenge to the coastal West African states, which lack the operational coordination and capacity to respond effectively. Kidnap for ransom and other “hit-and-run” terrorist operations, conducted from relative safe havens in Mali and Burkina Faso, are likely to increase in coastal states in the short- to medium-term. Ghana’s vulnerabilities include 181 known unapproved border crossing points, high youth unemployment, and existing religious, ethnic and political tensions. It is possible that extremist groups will shift focus to commercial targeting in the future, which will require a more securitized approach to mining operations. The industry in the region faces threats from KFR, direct action raids and denial of access attacks. The risk of attacks from improvised explosive devices are likely to increase. Companies are encouraged to identify the level of risk from these devices, engage in risk management and mitigation, and complete route assessments and a risk registry. The Australian Government’s ability to respond in the event of a major security incident, or kidnapfor-ransom case, is limited in West Africa. As a result, companies are urged to take appropriate security measures to address the threat and mitigate the risk. The security response should be proportionate to the risk and insurance should include appropriate cover for potential threats. While large mining operations often have sophisticated security architecture, smaller exploration companies, which lack financial resources, face greater challenges operating in high-threat environments. Companies are encouraged to: • Fund security operations appropriately; • Conduct risk assessments; • Maintain effective plans, policies and practices supported by training and drills; • Review the adequacy of insurance; • Observe effective security protocols; • P romote a culture of security awareness; • Maintain a high level of situational awareness; • Develop a network of contacts to facilitate information sharing; • E nsure physical protection of assets, including journey management; • Engage local communities and authorities; • Collect appropriate information at the local level; and • Enact targeted community-based corporate social responsibility programs to address local concerns and grievances.

Lydian International’s Amulsar gold project in Armenia. LYDIAN INTERNATIONAL

Armenian gov’t clears path for Lydian despite environmental concerns GOLD

| Armenia’s mountainous south home to endangered species

BY CECILIA JAMASMIE

Special to The Northern Miner

ydian International’s (TSX: LYD) Amulsar gold project in Armenia may have to go through a new environmental review — the fourth in the past year — after the country’s prime minister, Nikol Pashinyan, asked the environment authority to study the conclusions of a third-party audit published in mid-August. The long-awaited public audit of the gold project concluded the risks posed by the proposed mine would be minimal and manageable, paving the way for the company to move forward with development. The announcement also triggered fresh protests against the Amulsar project, located in Armenia’s mountainous south. Social unrest prompted Pashinyan to request that the Ministry of Environment review the study and determine whether or not another environmental impact assessment (EIA) was needed before allowing Lydian to go ahead. “To hear that the prime minister has asked for consideration of whether any additional EIA process is required in respect to the Amulsar project is more than disappointing, particularly after the prime minister’s recent public statements,” the company’s interim president and CEO, Edward Sellers,said in a news release. The Amulsar project has been illegally blocked since June 2018 by locals and environnmental activists, who claim the operation would threaten several endangered species. These include the world’s rarest big cat, the Caucasian leopard, of which there are thought to be only 10 left in Armenia. Despite court rulings in Lydian’s favour, police have not been able to restore uninterrupted access to the mine site, and demonstrations against the project continue. The situation, however, may be about to change, as the Armenian government told the company on Aug. 16 that it would launch a criminal probe into the blockades. Based on the company’s estimates, not having access to supplies and people has cost Lydian $100,000 a day and the loss of key professionals, not counting that it had to lay off 83% of its workforce, and 1,100 contracted jobs. “Dislocation-related costs will continue to be incurred until the illegal blockades are removed and unrestricted access for all

“WE LOOK FORWARD TO READING THE FULL TEXT OF THE AUDIT REPORT AND ARE CONFIDENT IT WILL CONFIRM LYDIAN’S PRUDENTIAL APPROACH TO ENVIRONMENTAL STEWARDSHIP.” EDWARD SELLERS INTERIM PRESIDENT AND CEO, LYDIAN INTERNATIONAL

purposes is available to the company,” Lydian said, while delivering second-quarter results in August. “Thereafter, the company anticipates additional time and funding will be needed for site restoration, sourcing of financing — if available — for completing construction, and working capital, until positive cash f lows from operations can be achieved.” Pressed by citizens, Armenia launched a three-stage assessment of Amulsar last September. The objective was to determine the project’s potential impact on wildlife in the Southern Caucasus mountain range, and, particularly, on water resources. The proposed mine sits above a tunnel that supplies water to Lake Sevan, which is the largest freshwater lake in the Caucasus region. Scientists have warned that acidic drainage from the mine would inevitably seep into the lake, posing a threat to Armenia’s water system. Amulsar is also near Jermuk, a spa town built around mineral springs, and the local economy is based on health tourism. Opponents to the mine claim construction dust has curbed the influx of visitors, and has also affected crops and grazing. Cattle, they say, have increasingly refused to drink water from streams on the mountain since construction started, which affects local livelihoods. As part of the third-party assessment of Amulsar, the results of which were released on Aug. 14, the government requested a review of the firm’s environmental and social impact assessment and EIA, even though the latter had been approved by the Armenian government before the firm began construction. Lydian cheered the audit report’s findings, pointing out that Yura Ivanyan, the head of the special investigative committee’s Department for Investigation of Corruption-related Property Crimes and Cybercrimes, confirmed that there were no grounds for criminal

charges against the company. The Toronto-listed miner had said that if Armenia shut down Amulsar, it would take the case to international arbitration under bilateral investment protection treaties with the U.K. and Canada. People familiar with the matter, however, noted that while the audit’s results were positive for Lydian, there are no guarantees the Armenian government would allow the company to move forward. “Authorities may agree that there are no grounds for criminal proceedings, but they may not be as sure about the alleged impacts on Lake Sevan, leopards and others,” said one industry consultant, who requested anonymity. Opposition to mining in Armenia has roots in a long list of environmental disasters caused by previous operations, as well as allegations of government corruption. Lydian, however, has highlighted that — unlike previous projects — Amulsar is subject to the rigours of an independent advisory panel. “We look forward to reading the full text of the audit report and are confident it will confirm Lydian’s prudential approach to environmental stewardship,” Sellers said in mid-August. So far, the company has spent more than US$3 million on social projects — such as local businesses and infrastructure — to mitigate the potential impact of the gold mine. It has also vowed to establish a national park. The country, in turn, is in desperate need of foreign investment, and jobs that properly run and managed mining projects can bring. Minerals and metals make up half of Armenia’s exports, and mining accounted for 3% of the country’s economic output in 2017, government data shows. The Amulsar mine would be a large-scale operation, with annual production averaging 225,000 oz. gold over an initial 10-year life. TNM

2019-08-27 7:02 PM

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SEPTEMBER 2–15, 2019 / THE NORTHERN MINER

Americas Silver plans to pour gold byProgressive year-end at Relief Canyon The MINE FORUM “THE [SILVER] INDUSTRY ITSELF NEVADA

| Junior’s asset mix turning yellow

BY TRISH SAYWELL

tsaywell@northernminer.com

New Ideas > Next Generation HAS BEEN IN AN EIGHT-YEAR BEAR MARKET. IT HAS BEEN MINING ITS HIGHEST-GRADE RESERVES TO SURVIVE.”

mericas Silver (TSX: USA; NYSE-AM: USAS) expects to produce gold before year-end at its fully funded Relief Canyon project in Nevada, 153 km northeast of Reno. The mine will produce 91,000 oz. gold per year over a 5.6-year mine life at all-in sustaining costs (AISCs) of US$801 per ounce. Americas Silver picked up the project — which includes three historic open-pit mines and a fully permitted and constructed heapleach processing facility — through its acquisition of Pershing Gold, a transaction announced in September 2018 that closed in April 2019. The company has a financing agreement with Sandstorm Gold (TSX: SSL; NYSE: SAND) for US$42.5 million to restart the mine. Relief Canyon will add substantial precious metal production and cash flow next year, Darren Blasutti, the company’s president and CEO, says in an interview. “The important part of Relief Canyon and why we did the transaction was that adding a high-quality gold project and gold revenue rerates us as a precious metals company,” he says. “Last year gold was less than 25% of our revenues, but adding Relief Canyon will bring that up to close to 70% in 2020.”

DARREN BLASUTTI PRESIDENT AND CEO, AMERICAS SILVER

Americas Silver’s Relief Canyon gold project in Nevada. AMERICAS SILVER

Americas Silver’s other assets are its Galena complex in Idaho and its Cosala operation in Sinaloa, Mexico. During the second quarter, Galena produced 383,000 equivalent oz. silver, including 200,000 oz. silver, and Cosala produced 1.3 million equivalent oz. silver, including 145,000 oz. silver. The company expects full-year production from Galena and Cosala will reach 1.6 million to 2 million silver oz., and 6.6 million oz. to 7 million silver equivalent oz., at cash costs of US$4 to US$6 per silver oz., and AISCs of US$10 to US$12 per silver oz. in 2019. Relief Canyon “was a fantastic transaction for us,” Blasutti says, noting that when the deal was announced last September, gold was

trading at US$1,180 per oz., and at press time was US$1,530.50 per ounce. While silver prices have also gone up, he says, many producers are struggling — when average AISCs run to US$15.50, or US$15.75 per ounce. “We’re up about a dollar, but if you look at average costs in the silver industry they’re over US$15 per oz., so we’re not making money,” he says. “The industry itself has been in an eight-year bear market, it has been mining its highest-grade reserves to survive, and you’ve had AISCs above the silver price, so that’s why the silver industry has been hit so hard.” Blasutti notes that silver reserve grades are down 39% since 2011.

The mining executive says that even companies like First Majestic Silver (TSX: FR; NYSE: AG), Endeavour Silver (TSX: EDR; NYSE: EXK) and Pan American Silver (TSX: PAAS; NASDAQ: PAAS) “have had to high-grade their mines — not everyone expected to be in an eight-year bear market. “When people talk about the silver price moving up US$1 or US$2, I’m not sure how much of an impact this is going to have,” he says. “I’m still very excited about the silver market, but it has got a long way to go before it impacts the bottom line … you need a price well north of US$20 per oz., before you have a real margin expansion in silver.” In July, Eric Sprott invested US$10 million in the company with the pur-

chase of 4 million common shares at $3.30 per share in a non-brokered private placement. The investment increases Sprott’s ownership in the company to 8%, up from 3%. Most proceeds will help satisfy the equity financing condition of the loan facility with Sandstorm Gold. Some of the funds will also be spent on option payments for its San Felipe project. Last month, Premier Gold Mines (TSX: PG) ended an agreement reached in April with Americas Silver to purchase the option for US$10.8 million. At press time, Americas Silver traded at $4.64 per share within a 52-week range of $1.66 to $5.19. The company has 82.5 million common shares outstanding for a $383-million market capitalization. TNM

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GLOBAL MINING NEWS

THE NORTHERN MINER / SEPTEMBER 2–15, 2019

Nevada Copper’s Pumpkin Hollow copper project under construction in west-central Nevada. NEVADA COPPER

Nevada Copper closing in on Pumpkin Hollow production CONSTRUCTION

BY STEVE STAKIW Special to The Northern Miner

nder the cloud of slumping base metal prices, advancedstage developer Nevada Copper (TSX: NCU) says it remains on schedule at its ongoing build of the wholly owned Pumpkin Hollow copper mine project, located near Yerington in west-central Nevada. The planned 4,500-tonne-per-day underground copper mine is slated for start-up by year-end, with a proposed second-stage, open-pit phase aiming to come online in 2023. The development project is touted by the company as one of two major North American copper projects currently in construction. Based on its latest prefeasibility study, the underground mine is expected to produce 50 million lb. copper, 8,000 oz. gold and 150,000 oz. silver annually over its modelled 13.5-year mine life. Annual output over its first five years is modelled slightly higher at 60 million lb. copper, 9,000 oz. gold and 173,000 oz. silver. Proven and probable reserves (for the underground mining stage) are pegged at 21.7 million tonnes grading 1.59% copper, with minor gold-and-silver credits. Pre-production capex for the underground mine comes in at US$197 million. The company’s latest Pumpkin Hollow construction update shows progress on both underground development and surface infrastructure, and reaffirms its start-up schedule for this year’s fourth quarter. Once its underground operation is online, the next task is the fully permitted, second-stage, open-pit plan that models an average output of 163 million lb. copper production annually over 19 years of operational life, with proven and probable reserves of 350 million tonnes grading 0.47% copper, plus minor goldand-silver credits. The company proposes a phased open-pit mine plan starting at 34,000 tonnes per day in 2023 — with an estimated initial capital build cost of US$672

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| Initial underground phase should be up and running this year

million — followed by a potential expansion to 64,000 tonnes per day, with another US$473 million in estimated capital costs. The company announced its final full underground construction decision a year ago, after a $108.5-million equity raise to top up the treasury. Another $40 million was raised this year through an equity financing, plus a US$115-million project finance facility put in place through German international project and export financing bank KfW IPEXBank to get Nevada Copper across the finish line to producer. The catalyst to Nevada Copper’s path to production came through a major business recapitalization announced in late 2017 (featuring a US$378-million construction financing package) that resurrected its past development plans, and

included a new management team and board of directors. Components of the deal included a US$70-million precious metals stream, an US$80million, senior-secured loan, and US$53 million in debt to equity conversion by Red Kite Mine Finance and Pala Investments, plus a working capital facility and equity commitments. Nevada Copper first acquired the Pumpkin Hollow property in 2006, and has undertaken close to 200,000 metres of drilling since then to build and upgrade the copper project’s resource base. Multiple preliminary economic development and feasibility studies reviewed various integrations of open-pit and underground development options, and the company started building a production shaft, but ran short of capital to finish the development

A crew installing a power line at the Pumpkin Hollow copper project. NEVADA COPPER

in 2015, after cumulative capital spending of over US$200 million. Copper price sensitivity Along with most global copper operations, Pumpkin Hollow has sensitivity to current weak spot copper prices, plus dropping consensus forecasts. Under Nevada Copper’s consensus-case scenario — with copper prices of US$2.83 per lb. in 2019, US$3.05 per lb. in 2020, US$3.14 per lb. in 2021 and US$3.20 per lb. from 2022 on — the company models underground operations having a US$301-million, after-tax net present value (NPV) at a 5% discount rate, 25.2% after-tax internal rate of return (IRR) and 4.75-year payback. However, under its low-case scenario (a copper price of US$2.60 per lb., which is where the market sits at press time) the after-tax NPV (5%)

slips to US$100 million, after-tax IRR drops to 12.8% and payback increases to 6.5 years. Copper prices have dipped to a more than two-year low, down to the US$2.56 per lb. (US$5,650-pertonne) level, bearing the wrath of renewed and escalating U.S. and China trade war fears. In mid-August, the U.S. threatened to impose 10% tariffs starting Sept. 1 on the other US$300 billion in Chinese imports not already taxed, after 25% tariffs previously applied to US$250 billion of Chinese products. The move triggered drops in stock market indexes, and commodities (such as the base metal complex) saw price declines, fearing lower industrial growth and consumption levels in China, the world’s largest copper consumer. Consensus forecast copper prices amongst commodity analysts has swung bearish over the past few months, with the latest 2019 forecasts slipping to US$2.80 per lb., down 5% from a couple months before. A similar drop is modelled by analysts for the red metal’s 2020 forecast price, which is pegged at US$2.92 per pound. The latest report out of the International Copper Study Group outlines a 150,000-tonne deficit in the world-refined copper balance for the first four months of 2019. However, the study also indicates growing copper stocks held at the major metal exchanges (i.e. London Metal Exchange, COMEX [CME Group] and Shanghai Futures Exchange) as of mid-year 2019 totalling 417,660 tonnes — a 67,164-tonne increase (up 19%) from reported stocks at the end of 2018. Reported exchange copper inventories rose to the 479,000-tonne level at the end of July. Shares of Nevada Copper traded at 29.5¢ at press time, a 52-week low,giving the soon-to-be producer a $225-million market capitalization, based on the company’s 662 million shares outstanding. (The company hit a 52-week high of 55¢ in September 2018.) TNM

2019-08-27 7:02 PM

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SEPTEMBER 2–15, 2019 / THE NORTHERN MINER

Coro Mining CEO Luis Tondo explains a diagram during a tour of the Marimaca copper project in Chile’s Antofagasta department. PHOTO BY TOM AZZOPARDI

Coro dusts off new copper find CORO From 1

made in the coastal range are hosted in volcanic rock, most geologists dismissed the area’s intrusive setting as unsuitable for hosting a large deposit, exploration manager Paola Kovacic said. However, Coro’s vice-president of exploration Sergio Rivera noticed that the intense fracturing in the area had allowed mineralizing solutions to permeate throughout the rock. Soon after announcing the discovery, a once-in-a-century rainfall washed away decades of dust to unveil mountainsides streaked with the telltale bright greens and turquoises. Toronto-listed Coro has already published a measured and indicated resource of almost 47 million tons (43 million tonnes) copper oxide, with an average 0.44% soluble copper ore grade (plus 10 million tonnes of inferred resources). With no overburden and a high-grade core, Coro says that it is enough for a mine operation. A feasibility study was published last year. However, with a second phase of exploration drilling almost complete, the company is confident that an updated resource estimate due for publication later this year could increase the resource to over 181 million tonnes, grading 0.5% copper. Earlier this year, the company sold its shuttered Berta mine near Copiapo to a private Chilean company for US$8.5 million, so it could concentrate on the opportunity at Marimaca. The question now is how far the mineralization extends. After the initial discovery, the company raised US$35 million last year, which it has used to consolidate and expand its land position, as well as finance more exploration. Coro is carrying out scout drilling up to 2 km north and south from the discovery to see how big the system is. To the north, the company has already drilled down through oxide and intermediate ores to hit highgrade sulphide ores underneath. “We have never worried much about sulphides, because the quan-

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tity of oxides was sufficient to be economic … this would be a totally new game, a different project, but it shows there is potential yet to be explored,” Tondo says. Instead, the team will begin studies on a larger operation at the project’s core, which has been expanded through new option agreements. A preliminary economic assessment, based on the enlarged resource, is due out in early 2020. Detailed engineering work would follow and take around a year to complete. Marimaca’s location could hardly be better. When the sea mists clear, you can see the industrial complex at Mejillones, 20 km away. Antofagasta airport is just 40 minutes’ drive, allowing early risers to visit the project on a day trip from Santiago. Power lines and aqueducts supplying other mines in the area run

close by. Its proximity to Antofagasta, the biggest city in northern Chile, means workers could travel to the mine for each shift, saving the cost of building a camp. But the immediate area is completely uninhabited — the artisanal miners packed up four years ago, when the copper price slumped — while the extremely arid conditions mean that pink-headed turkey vultures, known as “jotas,” are almost the only fauna visible. Back-of-the-envelope calculations suggest that an open-pit mine and leaching operation could produce 64,000 tonnes a year of high-grade cathode over a decade. Given its location and closeness to key infrastructure, initial capital expenses could be as little as US$400 to US$500 million. “Capital expense is going to be

much lower than other projects located in the high Andes,” Tondo says. If permitting and construction go smoothly, the company could launch production at the site as soon as 2022. However, given its size, Coro would likely sell the project or seek a partner to help develop it into a mine. All options are open, the executive says. But it is in no hurry. The company still has enough money in the bank to finish work scheduled for this year, and plans to go it alone until it fully understands Marimaca’s potential. “We don’t want to sell before we know what we have,” Tondo says confidently. Key to Coro’s success has been the financial backing of two U.K.-based private equity firms, which together hold 70% of the company’s shares.

Greenstone Resources LLP, which owns almost 56%, first got behind the company in 2015. Tembo Capital joined in last year’s capital raising and now owns 15.6%. Their long-term investment has allowed Coro to skip the financing difficulties that hobble most mining juniors. “The good thing with these funds is that they always have money available to keep injecting money into the project,” Tondo explains. As well as a potential new mine, Coro says it has uncovered a geological model that could lead to discoveries along Chile’s northern coastal range. Rivera, a former head of exploration at state mining giant Codelco, will present on fracturing in intrusive rocks at the Society of Economic Geologists’ 2019 conference in Santiago next October. TNM

Core samples on display at Coro Mining’s Marimaca copper project. PHOTO BY TOM AZZOPARDI

2019-08-27 7:02 PM

MEXICO

SPECIAL FOCUS Minera Alamos’ Los Verdes gold property in Sonora, Mexico. MINERA ALAMOS

President of Mexico says

‘no new mining concessions’ INVESTMENT

| After unofficial statement, authorities evaluate impact on spending, jobs BY BRENDA BOUW Special to The Northern Miner

lobal mining companies operating in Mexico are working with the country’s mining chamber, Camimex, to determine the impact of Mexico’s President Andres Manuel Lopez Obrador’s statement earlier this month that no new mining concessions will be handed out in the country. President Lopez Obrador said that his government will “keep the current concessions and not hand out new concessions, because they aren’t needed,” according to Reuters on Aug 12. In an email to The Northern Miner, in response to questions about the president’s statement, a Camimex spokesperson said: “Even [though] the announcement is not official, we are evaluating its potential impact.” The statement has mining proponents concerned about the impact on spending and jobs in the country, which is already struggling with mining investment. Data released in May from Camimex shows mining investment in Mexico hit a 12-year low in 2018. Mexico is known as the world’s top silver producer and one of the largest producers of copper and gold, and attracts a huge amount of global exploration spending. Only a quarter of the country has been explored for minerals and oil to date, according to media and industry reports. President Lopez Obrador’s leftwing government, which took power on Dec. 1, has vowed to heighten scrutiny of the environmental impact of mining companies and their treatment of Indigenous peoples, as well as give communities the right to decide whether to allow mining projects to go ahead. Francisco Quiroga, Mexico’s undersecretary of mining, told S&P Global Market Intelligence on Aug. 19 that the government would take a number of steps before considering reversing the proposed policy to See MEXICO / 10

“THE CHANGES CONTEMPLATED ARE NOT BY THEMSELVES DRASTIC, AND SOMEWHAT OVERDUE.” DAVID DAVIDSON ANALYST, PARADIGM CAPITAL

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The mill under construction at Telson Mining’s Tahuehueto gold project in Durango state, Mexico. TELSON MINING

Telson Mining shifting focus from zinc to gold

MINE CLOSURE

| Telson to boost Tahuehueto gold operations after challenges in Guerrero

BY STEVE STAKIW Special to The Northern Miner

ou nt i ng c h a l lenge s at its whol ly ow ned Campo Morado zinc mine in Guerrero state, Mexico, has prompted Telson Mining (TSXV: TSN) to put the operation on care and maintenance, and devote its resources to getting the Tahuehueto gold operation in Durango state into commercial production. Telson recently announced its decision to indefinitely curtail operations at Campo Morado, citing both security and safety concerns for its workers, and low metal prices — specifically zinc, which recently dropped to a three-year low near the US$1 per lb. level. “At US$1.01 to US$1.05 zinc, it’s a marginal project, we can still make money at it, but there are other factors that have come into play here that forced our company to make decisions on whether to keep this thing running, or shut it down,” said Telson president, Ralph Shearing. The company says it experienced a work stoppage after an extended scheduled shutdown for maintenance at the mine. A large component of the mine’s employees and trucking contractors declined to continue working at Campo Morado due to issues within the local community that pressured and intimidated the workers.

The closure has directly affected over 300 employees at the mine, in addition to numerous businesses and contractors in and around the city of Arcelia. Guerrero state is one of many others in Mexico that has seen higher crime rates and violence linked to organized crime drug cartels. It has a “Level 4 — Do not travel” advisory from the U.S.

Department of State. Earlier this year, Telson reported incidents of concentrate theft from trucks hauling the product from the mine to the port of Manzanillo. When the concentrates arrived at the warehouses of the company’s offtake partner Trafigura, assays showed lower grades than when the material left the mine site. Telson concluded a criminal opera-

tion intercepted certain concentrate trucks in transit, removed some part of the Campo Morado concentrate load, and replaced it with lower-quality concentrates. The company estimated the thefts impacted the yearly cash-selling value of between US$2 million and US$3 million. See TELSON / 12

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2019-08-27 7:02 PM

SEPTEMBER 2–15, 2019 / THE NORTHERN MINER

MEXICO

WWW.NORTHERNMINER.COM

Workers at a drill pad at Agnico Eagle Mines’ El Barqueno gold-silver property in Jalisco, Mexico. AGNICO EAGLE MINES

President of Mexico says ‘no new mining concessions’ MEXICO From 9

stop issuing new mining concessions. Some of those steps include ensuring existing concessions are actively operated, as well as reviewing a backlog of claim applications and putting in place policies on Indigenous consultation, according to the interview. Quiroga also said miners and explorers that are active on their claims “have nothing to worry about.” Mexican entrepreneurs and legislators have called on President Lopez Obrador to stop hitting the local mining sector, BNamericas reported Aug. 14. Their concerns are that mining investment — and in

turn, jobs — will suffer if the country stops granting new concessions. The Northern Miner contacted a number of other mining companies for comment, most of which either declined to comment or said they were unavailable. Agnico Eagle Mines (TSX: AEM; NYSE: AEM) spokesperson Dale Coffin confirmed his company is among those working through Camimex “on gaining a better understanding and clarification from senior government officials on exactly what this all means.” Coffin added that “for now, our operations and exploration projects in Mexico have not been impacted. It’s business as usual.”

Paradigm Capital analyst David Davidson says the fact that existing concessions aren’t likely to be affected is positive, which could be why mining companies operating in the country have been largely quiet on the issue. “As for Mexico, the changes contemplated are not by themselves drastic, and somewhat overdue,” Davidson said in an email. “Acquiring ground and holding it in near perpetuity without progressing its prospects is tying up considerable wealth, [and] is probably due for revision.” Davidson says he has no objections to potential stricter environmental standards, but says they may provide another platform for non-governmental organizations and community objections to mining in general. He also says higher wages and better human-resources practices for mine employees “may give rise to much higher labour expectations.” However, Davidson said Mexico’s proposals are “minor, compared to what’s happening in other parts of the world.” Juan Jose Gomez Camacho, the Mexican ambassador to Canada,

Mexico’s President Andres Manuel Lopez Obrador. LOPEZOBRADOR.ORG

told the Globe and Mail earlier this year that Canadian mining companies operating in Mexico will face increased scrutiny on environmental practices and treatment of Indigenous people. “Canadian mining companies are large investors in Mexico — but we expect them to operate in this country with exactly the same standards as they do in Canada,” he told the Globe. About 70% of foreign-owned min-

ing companies operating in Mexico are based in Canada, according to Global Affairs Canada. The mining sector contributes 4% of Mexico’s gross domestic product, Reuters says. Camimex’s latest report shows local and foreign mining companies invested US$383 million in Mexico in 2018, down 37% from $612 million in 2017, and a drop of 67% from a record $1.1 billion in 2012. TNM

Adding value. Delivering results. Integrated engineering and environmental solutions to help you achieve more.

A drill at McEwen Mining’s El Gallo gold-silver mine in Sinaloa state, Mexico. MCEWEN MINING

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2019-08-27 7:02 PM

MEXICO

GLOBAL MINING NEWS

THE NORTHERN MINER / SEPTEMBER 2–15, 2019

MEXICO SNAPSHOT

Precious metals from coast to coast mine in Chihuahua state. Bolivar’s ore is processed at Sierra’s Piedras Verdes plant, 6 km from the mine, where the company is expanding capacity to 4,250 tonnes per day by fourth-quarter 2019. Bolivar’s 2019 guidance is between 30,000 and 33,000 equivalent lb. copper. Also in Chihuahua state, the company is ramping up its Cusi silverlead-zinc-gold mine to 1,200 tonnes per day by fourth-quarter 2019. Cusi’s 2019 production guidance is set at 1,900 to 2,100 equivalent oz. silver. Both mines will have their 2017 technical reports updated by secondquarter 2020, which will incorporate more than 70,000 metres of new drilling. The company also holds a portfolio of early-stage exploration projects in the country.

Mineral companies large and small are active throughout Mexico. Precious metals remain the target of choice for explorers, developers and mine operators alike. Here are eight firms advancing assets in Mexico.

Excellon Resources In centra l Mex ico’s Dura ngo state, Excellon Resources (TSX: EX N) ow ns and operates t he La Platosa underground mine. As of 2018, La Platosa has an indicated resource of 485,000 tonnes grading 549 grams silver per tonne, 5.6% lead and 5.9% zinc, for contained metal totalling 8.5 million oz. silver, 60 million lb. lead and 63 million lb. zinc. The mine has produced more than 1 million tonnes of ore since beginning production in 2005. In 2018, the mine delivered 81,000 tonnes of ore with an average grade of 391 grams silver, 3.88% lead and 5.42% zinc, for 900,000 oz. silver, 5.4 million lb. lead and 7.9 million lb. zinc. Excellon is also exploring at La Platosa and in neighbouring Zacatecas state on its 450 sq. km Evolucion silver-lead-zinc property. For 2019, the company will drill 6,000 metres at Evolucion, and work on reinterpreting regional geology to drive discoveries. Impact Silver Junior producer Impact Silver (TSXV: IPT) operates the 535-tonneper-day Guadalupe Production Centre, which makes silver-leadzinc concentrate. The mill is fed by Impact’s three nearby mines: San Ramon, Guadalupe and Cuchara, which are in the historic colonial Royal Mines of Zacualpan district in west-central Mexico. In second-quarter 2019, Impact produced 146,000 oz. silver from ore, with an average head grade of 160 grams silver per tonne. The company also owns the 200-tonne-per-day Capire plant — which is on care and maintenance — and its nearby open-pit volcanogenic massive sulphide silver-lead-zinc deposit. Impact has started a Dense Media Separation engineering study, with an eye to improve Capire’s economics. Both projects are contiguous and sit on a combined 357 sq. km land package that houses more than 4,500 historic silver mines, and several active exploration targets, the company says. Leagold Mining Vancouver-based Leagold Mining (TSX: LMC) owns the Los Filos gold mine, 180 km south of Mexico City, in Guerrero state. Los Filos began production in 2008, and consists of two open pits, an underground mine and heap-leach processing facilities. The company expects Los Filos will produce 200,000 to 220,000 oz. gold in 2019. In July 2019, Leagold began work on a US$180-million expansion at Los Filos, which entails developing a second underground operation, enlarging one pit, re-phasing the other pit into two sections, and building a 4,000-tonne-per-day, carbon-in-leach plant. The expansion will be built in phases and should be fully up and running by fourth-quarter 2021, after which the mine will produce an average 350,000 oz. gold per year until 2028. McEwen Mining McEwen Mining (TSX: MUX; NYSE: MUX) operates the El Gallo gold-silver mine in the foothills of the Sierra Madre Occidental mountain range in Sinaloa state.

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Sierra Metals’ Piedras Verdes mill, which processes ore from its Bolivar copper-silver-gold mine in Chihuahua, Mexico. SIERRA METALS

In 2018, the mine yielded 39,000 oz. gold and 9,000 oz. silver. El Gallo transitioned from mining to residual heap leaching in secondquarter 2018. For 2019, El Gallo is on track to produce 16,000 equivalent oz. gold (including silver credits). The mine produced 240,000 oz. gold and 125,000 oz. silver for the company between 2012 and 2017. In 2018, McEwen released a preliminary economic assessment (PEA) for a redevelopment plan for El Gallo. The plan, called the Fenix project, would see the company build a mill on-site, which will initially reprocess heap-leach material, and then process ore from four deposits on the property. The plan would give El Gallo a 12-year mine life, producing 47,000 equivalent oz. gold per year on average. McEwen is working on permitting and completing a feasibility study for Fenix by third-quarter 2019. Mexican Gold Junior explorer Mexican Gold (TSXV: MEX) is focused on its f lagship Las Minas copper-gold property in Veracruz state. Las Minas hosts two gold-copper skarn deposits, which are historic mines, and surface accessible. A 2017 mineral resource estimate

for both zones outlined 5 million measured and indicated tonnes grading 0.92 gram gold per tonne, 0.59% copper and 4.37 grams silver per tonne, for 304,000 contained equivalent oz. gold. The inferred category adds 10.3 million tonnes of 1.08 grams gold, 0.66% copper and 3.99 grams silver, for 719,000 equivalent oz. gold. In 2019, the company plans to complete a resource update for Las Minas, carry out a Lidar survey, and map and refine drill targets. In June 2019, the company appointed Philip O’Neill as CEO. O’Neill was founder and CEO of Sunward Metals, before it was bought in 2015.

bulk sample at Santana. The material contained 0.67 gram gold per tonne and has yielded more than 1,000 oz. gold. In Durango state, the company owns the La Fortuna gold-silvercopper project, which hosts measured and indicated resources of 3.5 million tonnes grading 2.78 grams gold per tonne, 16.5 grams silver and 0.22% copper, for 310,000 contained oz. gold, 1.8 million oz. silver and 7,600 tonnes copper. A 2018 PEA envisioned a five-year, open-pit operation processing 1,100 tonnes per day to produce an average 43,000 oz. gold, 1.1 million oz. silver and 1,000 tonnes copper-inconcentrate per year.

Minera Alamos Aspiring producer Minera Alamos (TSXV: MAI) is developing two projects in Mexico. The company expects to begin construction at the federally permitted Santana gold project in Sonora state, despite it lacking a technical report or compliant resource estimate, which are expected to come after the 2019 drilling season. Minera Alamos expects the openpit, heap-leach operation will hit commercial production in mid2020. Minera Alamos has mined a 50,000-tonne, pre-commercial

Sierra Metals With two polymetallic mines, Sierra Metals (TSX: SMT) is heavily invested in Mexico. Since 2012, the company has operated its Bolivar copper-silver-gold

Southern Silver Exploration Southern Silver Exploration (TSXV: SSV) has been advancing the Cerro Las Minitas silver property in Durango state with a multi-pronged exploration campaign, including 60,000 metres of drilling since 2010. It has found four silver-polymetallic deposits: Blind, El Sol, Las Victorias and Skarn Front. Indicated resources total 11.1 million tonnes averaging 105 grams silver per tonne, 0.1 gram gold, 0.16% copper, 1.2% lead and 3.7% zinc. These grades amount to 37.5 million oz. silver, 35,000 oz. gold, 40 million lb. copper, 303 million lb. lead and 897 million lb. zinc. Inferred resources total 12.8 million tonnes of 111 grams silver, 0.07 gram gold, 0.27% copper, 0.9% lead and 2.8% zinc. Contained metal in the inferred resource totals 45.7 million oz. silver, 31,000 oz. gold, 76 million lb. copper, 253 million lb. lead and 796 million lb. zinc. Southern Silver Exploration (TSXV: SSV) operates the project and holds a 40% interest. Electrum Group owns the rest. TNM

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2019-08-27 7:02 PM

MEXICO

SEPTEMBER 2–15, 2019 / THE NORTHERN MINER

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Telson Mining shifting focus after mine-closure decision TELSON From 9

“At the end of the day Campo is there, and we can start it back up,” Shearing said. “We’re also working on the precious metal recoveries there, they’re a bit challenged — we’re only getting 15% gold recoveries. Tests have shown that that can be vastly improved, so we hope to get that finished up over the next little while.” With the possibility of a Campo Morado restart down the road, Telson has also updated tailing leach studies that evaluate the potential recovery of residual gold and silver. A study done in 2013 for prior mine owner Nyrstar, evaluated a Leachox process on the tailings, and showed that recoveries up to 65% gold and 81% silver were possible. Telson says it has a lot of concentrate stored on-site, and will look at methods to monetize it by taking it to its offtake partner’s warehouse. In the first quarter of 2019, Campo Morado produced 9.7 million lb. zinc, 1.5 million lb. lead, 212,692 oz. silver and 895 oz. gold-in-concentrate, and returned a mine-operating profit of $3.1 million for the company. Telson purchased Campo Morado from Nyrstar in April 2017 for US$20 million in staged payments. Nyrstar, one of the world’s largest zinc smelting groups, bought the mine for US$405 million in late 2010 from Farallon Mining, as it looked to boost its own-sourced zinc production. Telson Eyes Gold Telson now has its sights on becoming a precious metals producer, with its wholly owned Tahuehueto mine in the Sierra Madre mineral belt of northern Durango state, which is nearing production. “We have really shifted our focus to our gold project, Tahuehueto, which really has been the company’s main focus all along,” Shearing said. “It is a very wellmineralized and robust project. We have a prefeasibility out, and we’re building the mine — we’re 70% complete.” Telson’s president also said that “we’re six months away from having it completed, but we got stressed on cash flows from Campo, so our whole funding plan was based on getting a certain amount of money out of Campo operations to supplement the money we already had

An aerial view of Telson Mining’s Tahuehueto gold project in Durango, Mexico. TELSON MINING

with Trafigura. We’ve come up a little short, but we’re working right now with a Mexican bank, and they

TSX: SMT NYSE American: SMTS BVL: SMT www.sierrametals.com

Exciting Resource and Production Growth in Peru and Mexico

ZINC

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COPPER

SILVER

LEAD

GOLD

have agreed to terms.” Initially acquiring Tahuehueto in 1997, Telson has undertaken numerous rounds of drilling, in addition to underground development and bulk sampling, leading to a 2016 prefeasibility study. The report tabled probable reserves of 3.3 million tonnes grading 3.4 grams per tonne gold, 41.8 grams per tonne silver, 0.35% copper, 2.2% zinc and 1.2% lead. Measured and indicated resources (inclusive of the stated reserves) at the project are 6.1 million tonnes grading 2.5 grams per tonne gold, 42.8 grams per tonne silver, 0.3% copper, 2.2% zinc and 1.2% lead. Based on the modelled 790-tonneper-day underground mine and 550-tonne-per-day processing mill producing lead, copper and zinc concentrates, the prefeasibility study showed robust economics. Post-tax net present value (using an 8% discount rate) came in at US$70 million, with a 33% internal rate of return and three-year payback, based on conservative base-case metal prices of US$1,180 per oz. gold, US$16.70 per oz. silver, US$2.65 per lb. copper, US92¢ per lb. zinc and US87¢ per lb. lead. Telson says it is looking to size up its Tahuehueto operation to 1,000 tonnes per day. In late 2017, the company secured a US$15-million loan facility and offtake agreement with Trafigura — the same company to which it

“[TAHUEHUETO] IS A VERY WELLMINERALIZED AND ROBUST PROJECT. WE HAVE A PREFEASIBILITY OUT, AND WE’RE BUILDING THE MINE — WE’RE 70% COMPLETE.” RALPH SHEARING PRESIDENT, TELSON MINING

has sold its Campo Morado concentrates. The loan and offtake agreement sees Trafigura buying 100% of the operation’s zinc and lead concentrates through to the end of 2022. While the company awaits closure of its financing to complete the Tahuehueto build, it has been processing ore from underground development on an external tollmilling basis since 2018. In the first quarter of 2019, toll-processed preproduction ore yielded Telson US$896,000 from concentrate sales. First-quarter toll production came in at 168 tonnes lead concentrate grading 39% lead, 6% copper, 80 grams per tonne gold and 840 grams per tonne silver, plus 218 tonnes zinc concentrate grading an average of 44% zinc, 9 grams per tonne gold and 68 grams per tonne silver. Average recoveries achieved in first-quarter 2019 toll milling, were 81% for gold, 86% for silver, 90%

for lead, 60% for zinc and 88% for copper. Preproduction mining has yielded 21,613 tonnes of mineralized material. The company also announced that another 5,000 tonnes of preproduction ore from Tahuehueto is being shipped for toll milling over the next couple weeks, with the concentrates produced to be sold to Trafigura under its offtake agreement. Funds from the sale are earmarked to finance ongoing mine development and construction. Telson shares were recently at the 25¢ level, with a 52-week trading range of 63¢ to 17¢. After the Aug. 14 announcement of placing Campo Morado on care and maintenance, the company’s shares dropped as much as 39% to the 17¢ level. Based on Telson’s 139.6 million shares outstanding, the company has a $35-million market capitalization. The company reports that management and directors own 55% of the shares outstanding. TNM

2019-08-27 7:02 PM

MEXICO

GLOBAL MINING NEWS

THE NORTHERN MINER / SEPTEMBER 2–15, 2019

Premier Gold Mines’ Mercedes gold-silver mine in Sonora, Mexico. PREMIER GOLD MINES

Premier hits exploration hard at Mercedes GOLD-SILVER BY TRISH SAYWELL

tsaywell@northernminer.com

remier Gold Mines (TSX: PG) is convinced it can add years to the mine life at its 2,000-tonneper-day Mercedes gold-silver mine in Mexico’s Sonora state. “We’ve got about a four- to fiveyear mine life based on current reserves, and that was the life when we bought it in 2016, so we’ve been successful in replacing reserves every year,” the company’s president and CEO, Ewan Downie, tells The Northern Miner. The underground mine, 250 km northeast of Hermosillo and 300 km south of Tucson, Ariz., contains reserves and resources from numerous deposits on the property. Proven and probable reserves at the end of 2018 totalled 3.38 million tonnes grading 3.63 grams gold per tonne and 25.05 grams silver per tonne, for 395,000 contained oz. gold and 2.73 million contained oz. silver. This year, Premier plans to drill 45,000 metres from surface and underground. One of the exploration targets at Mercedes is the Marianas zone, because it makes up the down-plunge extension of the main Mercedes mine trend. The deposit remains open in multiple directions, and more than 10,000 metres of drilling is planned there this year to convert inferred resources to reserves. Marianas has never been mined, and, until recently, had only been drilled from surface, but many of the surface intercepts suggest potential grade in excess of the current reserve grade, the company says. “One of the primary reasons we bought Mercedes in the first place was because of Marianas, which we’re currently drilling from underground and surface, and constructing a ramp that hopefully will become a production decline,” Downie says. “Our goal is to start mining Marianas next year, which is a bit behind our original schedule. We had hoped to get it started this year, but the ground conditions encountered while driving the decline were worse than we expected, and for safety purposes we have taken it slow.” Drill results released in May represented initial underground drilling at the east margin of the Marianas zone, within 100 metres of the ramp. Highlights include 31 metres of 4.96 grams gold and 71.06 grams silver, including 3 metres of 25.65 grams gold and 171.30 grams silver in hole 19-011, starting from 87 metres downhole, and 21 metres of 4.51 grams gold and 64.09 grams silver,

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| Numerous deposits from surface, underground in Sonora state

including 4 metres of 11.04 grams gold and 94.09 grams silver in 19007, starting 92 metres downhole. “What we really need are some more high-grade zones to get to, so that the mine performs better than it has,” Downie says. In the second quarter, Mercedes produced 15,532 oz. gold and 51,354 oz. silver, compared to 13,780 oz. gold and 44,366 oz. silver during the second quarter of 2018. For the first half of 2019, cash costs, on a coproduct basis, were US$911 per oz., and all-in sustaining costs were US$1,173 per ounce. Higher gold production owed to higher mined grades upon transitioning to the Rey de Oro and Lupita zones, as well as consistent stope production from the Diluvio zone. For the full year, Mercedes is expected to produce between 75,000 and 85,000 oz. gold and between 225,000 and 250,000 oz. silver, at cash costs of US$730 to US$780 per oz. gold sold, and all-in sustaining costs (AISCs) of US$900 to US$950 per oz. gold sold. “Last year, and so far this year, mine performance has been up and down, based primarily on what zone most of the ore is coming out of, and the Diluvio zone, which is expected to make up 50% of our production

this year, is lower grade,” Downie says. “We anticipate getting into higher-grade mineralization in the second half of this year — that’s our plan.” In addition to the Marianas zone, another exciting exploration target at Mercedes is the recently discovered San Martin zone. Drilling at San Martin has returned 7 metres of 4.64 grams gold and 30.45 grams silver starting at 197 metres downhole in 19-400D, and 1 metre of 5.56 grams gold and 37.66 grams silver in 19-396D starting from a depth of 220 metres. Other assay highlights from San Martin include 3 metres of 14.02 grams gold per tonne and 136 grams silver per tonne, starting at a depth of 208 metres in drill hole 19-422D. Drill hole 19-424D returned 4 metres of 8.41 grams gold and 67.64 grams silver, starting 224 metres downhole, including 1 metre of 16.20 grams gold and 92 grams silver. “A real focus for us now is more holes in the Lupita Extension and San Martin target area to see how big this zone might be, and commence infill drilling to bring it into resource and reserve, and start mining it,” Downie says. “Based on the drilling we’ve done at San Martin and the Lupita Extension, the indications are

that the grades may be at the high end of our current reserve grade, or higher, so they’ve moved up to be a high priority for us, too.” Surface exploration has identified a 2.5 km mineralized corridor, east and west of the Lupita deposit. The Lupita Extension drill program was designed to expand the Lupita resource and test the continuity of the vein to the west. Drilling started earlier this year, and results from 60-metre stepouts included 5 metres grading 4.57 grams gold and 27.07 grams silver starting from 129 metres downhole in drill hole 19-414D. The company plans more stepout holes to define the western extension of the zone, and another infill drill program to delineate at 30-metre centres, starting from the 2018 resource limits. Premier is also drilling the Lupita, Diluvio and Rey de Oro deposits this year to offset mining depletion, and grow resources. The Lupita and Diluvio deposits are 4 km northeast of the main Mercedes trend in an underexplored basin. The Lupita vein outcrops on surface for 1,300 metres, has an average width of 3 metres and locally extends downdip up to 450 metres. In May the company reported 1 metre of 10.75 grams gold and 89.31

grams silver in drill hole 19-016 from 118 metres downhole in the Lupita zone, and 30 metres of 6.43 grams gold and 11.91 grams silver, including 4 metres of 13.79 grams gold and 21.93 grams silver in 19056 in Diluvio West, starting from 94 metres downhole. Drilling has also discovered veining and mineralization in areas at Margarita, 1.2 km east of Lupita. The first drilling at Margarita returned 1 metre of 2.98 grams gold and 61.93 grams silver in 19-395D. Subsequent drilling has intersected 6.30 grams gold over 2 metres, 284 metres downhole in drill hole 19415D, and 2 metres of 3.51 grams gold starting 255 metres downhole in 19-409D. In addition to identifying potential targets close to infrastructure on the property, exploration this year aims to test along the several kilometres of the unexplored main northwest vein systems that host the existing mines, as well as other regional targets. One prospective area is La Mesa, 24 km northeast of the main Mercedes mine. Premier says La Mesa exhibits the same stratigraphy that hosts Agnico Eagle Mines’ (TSX: AEM; NYSE: AEM) deposits on its Santa Gertrudis property. TNM

Mexican Gold is set for exploration success and resource growth at Las Minas in 2019

info@mexicangold.ca www.mexicangold.ca TSX-V: MEX OTC: MEXGF FRA: 4QW1

• A new management team in place with vast experience in creating shareholder value • Well funded to move the Las Minas project forward • Exploration set to resume to look at new targets and to grow the existing resource at Las Minas • A new 43-101 resource estimate to be released in the coming weeks

2019-08-27 7:05 PM

MEXICO

SEPTEMBER 2–15, 2019 / THE NORTHERN MINER

WWW.NORTHERNMINER.COM

SilverCrest pushes ahead with Las Chispas PRECIOUS METALS BY JEAN LIAN

jlian@northernminer.com

hree years into exploring the Las Chispas district in Sonora, Mexico, SilverCrest Metals’ (TSXV: SIL; NYSE-AM: SILV) Las Chispas project is picking up speed. The company secured financing shortly after Mexico’s environment ministry gave SilverCrest the green light to develop the project. The Las Chispas property consists of 28 concessions totalling 14 square kilometres. The project is located 180 km northeast of Hermosillo and 12 km south of the community of Arizpe, with a population of 2,200. Geologically, host rocks at Las Chispas are volcanic tuffs, rhyolites, agglomerates and rhyolite breccias. The historic Las Chispas mine produced spectacular silver mineral specimens, including polybasite, stephanite, native silver and pyrargyrite. On July 18, 2019, SilverCrest received an operating permit from the Secretaria de Medio Ambiente y Recursos Naturales (Semarnat), giving the company conditional approval to build a 3,000-tonneper-day underground mine and a conventional processing facility, with dry-stack tailings and underground backfill. The permit, which expires on July 17, 2033, covers 1 sq. km of the project. Semarnat says it plans to inspect the project in the second half of 2019. On Aug. 15, SilverCrest announced that it raised $25 million by issuing 4.3 million shares at $5.85 apiece in a bought-deal financing. In response, SSR Mining (TSX: SSRM; NASDAQ: SSRM) exercised its equity participation right to pick up 780,000 SilverCrest shares for $4.6 million to keep its 9.9% interest in the company. After the two transactions, SilverCrest says it has $49 million in cash. Analysts applauded the fundraising effort and SilverCrest’s general direction. “The amount of institutional in-

| Analysts applaud fundraising, have faith in management

terest in the offering was very significant, and not something we have seen in recent times,” says Raj Ray, a mining and metals analyst with Desjardins Securities in Toronto. Desjardins gave SilverCrest a “buy” rating, citing strong potential for resource upside. A research note on July 17, says the company has enjoyed a positive start to the year, driven by the third resource update in March 2019, and a robust preliminary economic assessment (PEA) in May 2019. “Recent exploration results have been encouraging and point to continued resource upside, supported by SilverCrest’s ongoing 2019 drill program, which is targeting zone extensions and entirely new veins,” the research note states. Desjardins also increased its target price for SilverCrest shares from $6 to $7.25, driven by higher gold-price assumptions, and and an incrementally larger resource. Mining analyst Michael Curran with Beacon Securities in Toronto says it is “definitely a positive sign” when shareholders keep their prorata interest on financings. “We consider SilverCrest Metals to be an attractive investment opportunity of future mine development of a high-grade, silver-gold deposit in Mexico,” Curran said in a research note on Aug. 16. Mining analyst Ryan Thompson from BMO Capital Markets kept his “outperform” rating for SilverCrest. Thompson says the company deserves a premium multiple, given the exploration potential and high grades of the Las Chispas deposit, and receipt of the operating permit. According to the PEA released in May, the Las Chispas project has an after-tax net present value of US$407 million with a 5% discount rate, and a 78% after-tax internal rate of rate of return (IRR) over a nine-month payback period, based on US$16.68 per oz. silver and US$1,269 per oz. gold. Ray says the high IRR is driven by a relatively low initial capex — pegged at US$100 million — and

“THIS IS ONE OF THE BETTER-QUALITY PEAS WE HAVE SEEN FOR JUNIOR, DEVELOPMENT-STAGE COMPANIES.” RAJ RAY MINING AND METALS ANALYST, DESJARDINS SECURITIES

the flexibility to mine higher-grade and higher-margin ore early in the mine life. Curran says the after-tax IRR is realistic. “The overall high-grade nature of the deposit, coupled with the even higher grades expected to be mined in the early years, should see very low operating costs and result in a higher-than-normal, after-tax IRR,” he notes. The project is forecasted to have an average annual production of 5.4 million oz. silver and 55,700 oz. gold, and an initial 8.5-year mine life. To maintain a production rate of 1,250 tonnes per day, the development plan will require at least 11 underground working faces to feed the process plant, before ramping up to 15 working faces by the fifth year. Miners will use cut-and-fill methods and split blasting in narrower stopes. “This is one of the better-quality PEAs we have seen for junior, development-stage companies,” Ray says. “We see potential for further upside to mineable resources, compared to the 89 million equivalent oz. silver estimated in the PEA.” The capex and operating-cost estimates for the project are backed by SilverCrest management’s strong technical expertise, he adds. The PEA is based on the February 2019 resource estimate for the Las Chispas project, which shows an indicated resource of 1 million tonnes grading 6.98 grams gold per tonne and 711 grams silver per tonne for 224,900 contained oz. gold and 22.8 million contained oz. silver. Inferred resources stand at 3.6 million tonnes grading 3.32 grams gold and 333 grams silver for 388,300 contained oz. gold and 38.9 million contained oz. silver.

The PEA focused on the initial development and production of high-grade veins that produce an average of 13.7 million oz. silver equivalent per year for the first four years at all-in sustaining costs of under US$5 per equivalent oz. silver. The PEA suggests that Las Chispas could be a high-margin project, even at low metal prices. Resources used for the PEA consist of 10 — out of 30 — known veins that were drill-tested near the surface. SilverCrest has 14 rigs running on-site to test, expand and upgrade the resource. The company is also reconciling underground grade on the Babicanora vein, with drilling and underground work to better understand the grade difference between recent underground vein sample results and the resource model. SilverCrest CEO Eric Fier says the company will evaluate a number of optimization opportunities identified in the PEA as the company proceeds with a feasibility study, which it plans to complete in the first half of 2020. The recent change in Mexico’s political leadership may have raised concerns on how the political landscape will affect investors and the companies that are developing resources. Andres Manuel Lopez Obrador was sworn in as Mexico’s new president on Dec. 1, 2018, after a general election in July 2018. The left-wing politician has promised to bring about change and rid the country of corruption and drug wars through peaceful means. While there are concerns over certain regions in Mexico, Curran regards Sonora state — where Las Chispas is located — as one of the better mining jurisdictions in the

country. “The trepidation we often have with management teams, as they attempt to transition their company from explorer to producer, is significantly lower with SilverCrest Metals,” Curran says. He adds that the company’s management team built and operated a similar mine in the region — the Santa Elena silver mine — before First Majestic Silver (TSX: FR; NYSE: AG) acquired it from SilverCrest in 2015. For Ray, Sonora state is safer than some other parts of Mexico. He adds that President Lopez Obrador’s unofficial announcement that the country would not hand out new mining concessions does not affect the company, which has all the mining concessions it needs. “Any jurisdiction presents some risks or other in terms of tax rates, labour laws, security or other factors determined by the government,” Ray says. Since Las Chispas has received its operating permit, “we see that as a significant de-risking event, given some investor concerns about potential delays in the process with the new government.” On Aug. 22, 2019, SilverCrest announced that it obtained full ownership of all mining concessions containing vein mineral resources at Las Chispas by exercising its outstanding option agreement to fully acquire the remaining four of the 28 concessions. It has also acquired local water rights and received a general explosives permit to advance underground exploration for the Babicanora vein, in both the Santa Rosa decline and Babicanora historic adit. Mexico ranked 29 out of 83 for investment attractiveness in the Fraser Institute’s 2018 survey of mining companies. With the rainy season in Sonora coming to an end, the company says it plans to increase the number of drills from 14 to 17 — 15 on surface and two underground — in September. It expects to drill another 50,000 metres in the second half of 2019. TNM

Workers in front of a portal at SilverCrest Metals’ Las Chispas silver-gold project in Mexico. SILVERCREST

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2019-08-27 7:02 PM

GLOBAL MINING NEWS

THE NORTHERN MINER / SEPTEMBER 2–15, 2019

The Yukon Panel at The Northern Miner’s third annual Canadian Mining Symposium held in May 2019 at Canada House in London, U.K., from left: Graham Downs, president and CEO, ATAC Resources; Paul West-Sells, president and CEO, Western Copper and Gold; Brandon Macdonald, president and CEO, Fireweed Zinc; John McConnell, president and CEO, Victoria Gold; Sandy Silver, Premier of Yukon; and moderator Andrew Cheatle, senior VP for Africa, Forbes & Manhattan Group. PHOTO BY MARTINA LANG FOR THE NORTHERN MINER

Gov’t, corporate leaders on Yukon’s potential CMS 2019

BY BRIAN SYLVESTER Special to The Northern Miner

ith 11 of 13 First Nations reaching settlements on land claims and a new gold mine set to ramp up production, Yukon was the focus of discussion during the Territorial Panel at The Northern Miner’s annual Canadian Mining Symposium held at Canada House in London, U.K., earlier this year. The panel consisted of Yukon Premier Sandy Silver; Graham Downs, president and CEO of ATAC Resources (TSXV: ATC); Brandon Macdonald, president and CEO of Fireweed Zinc (TSXV: FWZ); John McConnell, president and CEO, Victoria Gold (TSXV: VIT); and Paul West-Sells, president and CEO of Western Copper and Gold (TSX: WRN; NYSE-AM: WRN); with Andrew Cheatle, senior vicepresident for Africa with Forbes & Manhattan, as the panel moderator. The companies on the panel are all part of the Yukon Mining Alliance, a government-industry initiative designed to promote investment in the territory. Premier Silver kicked things off by offering the audience some facts and perspective on the Yukon in Canada’s northwest. Silver referred to the territory as “British Columbia’s hat,” and said it is the size of the U.K., but with a population of just 41,000. The airport in Whitehorse, the capital, hosts daily flights from Vancouver and Germany (mid-year), and is one of 28 government-maintained airports and aerodomes there. Yukon also has three ice-free, deepwater ports that Silver noted are four days closer by ship to Asian markets than Vancouver. The premier boasted that the Yukon is among the top-10 jurisdictions

1-16_SEPT2_Main .indd 15

| Territorial panel talks settlements, new gold mine

on the Investment Attractiveness Index in the Fraser Institute’s 2018 annual survey of mining companies, up three spots from the previous year’s edition. “There are many reasons for that. We have significant geological potential. The Yukon Geological Survey provides the public with geological data for over 2,700 geological mineral occurrences in the territory. This data provides the baseline for many of tomorrow’s discoveries. Natural Resources Canada estimates that Yukon hosted 8% of Canada’s exploration and deposit appraisal activity in 2018,” Silver said. He added: “We have very strong government-to-government relations with our Indigenous communities. We have made investments in infrastructure. There is political stability and regulatory clarity, as well.” The biggest investment in infrastructure comes in the form of the Yukon resource gateway project, a $500-million investment by the federal and territorial governments, as well as industry, to essentially build three roads into areas where there is high mineral potential. “Your regulatory regime and ease of permitting do not matter if there is no mineral endowment,” Macdonald said. “The Yukon has already demonstrated significant mineral endowment potential and incredible prospects for more.” Downs added: “The world is getting smaller and smaller, and it’s getting harder and harder to find deposits in friendly jurisdictions. With the rich history of mineral exploration and placer mining in the Yukon, it’s a welcome place to find new deposits. Just the fact that we found Canada’s only Carlin-style mineralization in 2010 shows you how much potential there is to find new deposits in the Yukon.”

Cheatle then asked panel members to comment on some of the measures taken by the territorial government to make Yukon more attractive for mineral exploration. “One of the knocks against the Yukon is that people are worried about the infrastructure,” West-Sells said. “If you look at the area where we are, within a 50 km radius, there are 25 million oz. gold in resource, and that’s where two of these roads are going.” One of Yukon’s biggest success stories to date is Victoria Gold. The junior is building the Eagle gold mine, which is scheduled to pour its first gold in September. The project hosts a National Instrument 43-101 compliant reserve of 123 million tonnes grading 0.67 gram gold for 2.7 million oz. gold, with potential to boost that amount with further exploration. McConnell said the jurisdiction played a significant role in securing financing to build the Eagle mine. “Victoria is the poster child for investment in the Yukon. We acquired the property in 2009. Between 2009 and 2018, we were able to raise more than $150 million to move the project through exploration, a feasibility study and permitting. And then we were able to raise $500 million to build the mine. People looked at the jurisdiction very favourably,” McConnell said. “Groups like Orion Mine Finance and Osisko Gold Royalties (TSX: OR; NYSE: OR) made big bets on Victoria Gold and our team to execute, but they paid close attention to the jurisdiction.” Silver also emphasized his government’s relationship with Indigenous communities, which he notes are underpinned by “constitutionally protected modern treaties” and selfgoverning agreements that provide both sides with a legal framework from which to make decisions, and

determine how to best use the territory’s resources. Macdonald, who grew up in the community of Ross River, talked about his experience with the Ross River Dena Council First Nation. “When you’re working on a project and you spend so much time in the community and the community has such a small population, you can’t help but get to know people. That helps build solid relationships (with First Nations), because it’s not something that you can just drop in on, have your meeting and not worry about it again until you have your next meeting. [There’s] a perpetual need to engage … whether you’re driven by moral imperative or financial imperative, you have to have those relationships,” Macdonald said. McConnell echoed Macdonald. “We have a great relationship with the First Nation we work with. I can honestly say many of the First Nations members are friends. I own a home in the community so I spend a lot of time there, and we continually work on our relationship,” he said. At that point, Cheatle moved the discussion toward land-claim settlements and Yukon’s unique position in Canada. “Eleven out of the 13 [Yukon] First Nations have settled land claims. That means when you’re developing a project there are boundaries. It’s clear in terms of the First Nations that you need to engage and consult with,” West-Sells said. “The other part is that when you enter the regulatory phase, the environmental assessment, the First Nations are fully scoped into that assessment. The way that the First Nations are woven into the environmental assessment process in the Yukon is unique to Canada. It gives you some certainty, as compared with other areas, where you don’t have those

settlements with First Nations.” ATAC Resources is developing the Rackla gold property in the Yukon, and has been operating there for 10 years. During that time, Downs said his company has worked extensively with First Nations. “We have exploration cooperation agreements [with First Nations]. We were either the first or second group that has done a joint-decision document working with a First Nation on settlement lands with a potential road route. That’s really exciting. It’s about asking questions like: ‘Is this something you want to do?’ or ‘Can we work with you?’” Andrew Cheatle asked panelists if they had anything to say to the premier, given that he was on the panel. West-Sells and Macdonald suggested improvements to the regulatory framework to make things move faster. Downs said that while the government has made significant infrastructure improvements, ATAC still has ongoing infrastructure needs. Everyone agreed that Silver was quite accessible and rarely more than a phone call away. Indeed, Premier Silver even married McConnell and his wife less than a year ago. Perhaps the most glaring problem in the Yukon is the lack of available labour. Silver said Yukon has the lowest unemployment rate in Canada. To that end, Victoria Gold has launched a labour recruitment campaign with the tagline: “Yukoners, it’s time to come home,” as part of an effort to lure miners who left the Yukon to find work at mines in other jurisdictions. When Cheatle asked why the premier spends so much time on mining-related initiatives, Silver said: “As goes mining, so goes the Yukon. TNM

2019-08-27 7:02 PM

WWW.NORTHERNMINER.COM

SEPTEMBER 2–15, 2019 / THE NORTHERN MINER

A drill site at Integra Resources’ DeLamar gold project in southwestern Idaho. INTEGRA RESOURCES

Heap leaching an option at Integra’s DeLamar project GOLD & SILVER tion from both deposits behaves similarly, the company says. On a tonnage basis, over 54% of the project’s modelled measured and indicated resources and 39% of its inferred are potentially amenable to low-cost heap leaching — findings that will be incorporated into the preliminary economic assessment (PEA) that the company plans to finish in September. “The confirmation that a substantial component (nearly 50%) of the current 4.4 million equivalent oz. gold resource (all categories) is amenable to heap leaching, with attractive gold and silver recoveries, is a very important development ahead of the planned PEA,” Tara Hassan, an analyst at Raymond James,

BY TRISH SAYWELL tsaywell@northernminer.com

etallurgical test work at Integra Resources’ (TSXV: ITR; US-OTC: IRRZF) DeLamar project in southwestern Idaho shows heap leaching is a viable option for a large percentage of the resource, the company says. Results from test work at the project’s Delamar and Florida Mountain deposits show recoveries as high as 85% for gold and up to 50% for silver. Recoveries of 80–90% gold and 20–50% silver come from Florida Mountain, and 65–80% gold and 15–40% silver are from Delamar. Column test data shows that the oxide and transitional mineraliza-

| Idaho deposits show good recoveries writes in a note to clients. “These results confirm our view that the project has significant optionality that will position Integra to consider a number of development options, with the most important being an attractively sized heap-leach project that is still of the scale that could be funded and built by Integra.” Integra updated the project’s resource estimate in June, incorporating over 250,000 metres of historic drilling by Kinross Gold (TSX: K; NYSE: KGC) and its predecessors, and 30,000 metres (93 holes) completed by Integra since the first quarter of 2018, which is the first exploration DeLamar has seen in 25 years. DeLamar’s resource stands at

“THESE RESULTS CONFIRM OUR VIEW THAT THE PROJECT HAS SIGNIFICANT OPTIONALITY.” TARA HASSAN ANALYST, RAYMOND JAMES

172.4 million measured and indicated tonnes grading 0.43 gram gold per tonne and 21 grams silver per tonne, or 0.70 equivalent gram gold, for 2.38 million contained oz. gold and 116.51 million oz. silver, for 3.88 million equivalent oz. gold. Inferred resources add 28.3 million tonnes grading 0.38 gram gold and 13.5 grams silver, or 0.55 gram goldequivalent, for 343,000 contained oz.

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

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gold and 12.24 million oz. silver, for 500,000 equivalent oz. gold. As for the two deposits’ unoxidized mineralization, test work so far shows good recoveries on established processing options. At Florida Mountain, test work studying milling, gravity and flotation with concentrate regrinding and cyanidation holds recoveries of 85–90% gold and 65–80% silver. At DeLamar, unoxidized mineralization responds well to upgrading by gravity and flotation processing, with over 90% of the gold and silver in the mineralization reporting to a sulphide concentrate that will need more processing, such as fine grinding and leaching, or oxidative treatment, such as autoclaving. The two deposits — situated 8.5 km apart, and connected by an all-weather haul road — are 160 km from Boise. Kinross Gold’s historic DeLamar mine produced 1.6 million oz. gold and 100 million oz. silver before it closed in 1998, due to low metal prices. Historic underground mining at Florida Mountain from the 1830s to the 1910s produced 133,000 oz. gold and 15.4 million oz. silver. Kinross mined the deposit via open pit in the 1990s, and produced another 124,500 oz. gold and 2.6 million oz. silver. The mine closed the same year as DeLamar, and was put on care and maintenance. Integra’s management team is made up of former executives of Integra Gold, which was sold to Eldorado Gold (TSX: ELD; NYSE: EGO) in July 2017 for $590 million. Integra Resources’ president and CEO, George Salamis, previously served as Integra Gold’s executive chairman, while Integra Gold’s president and CEO, Stephen de Jong, is now chairman of Integra Resources. At press time, Integra’s shares traded at $1.09 in a 52-week range of 61¢ to $1.15. The company has a $84-million market capitalization. TNM

2019-08-27 7:02 PM

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SEPTEMBER 2–15, 2019 / THE NORTHERN MINER

M A R K E T N EWS TORONTO STOCK EXCHANGE / AUGUST 19–23 The S&P/TSX Composite Index fell 0.69% to 16,037.58. Spot gold finished the trading week at US$1526.60 per oz., up US$13.80, or 0.91%. The S&P/TSX Global Gold Index gained 4.67% to end at 260.51, while the S&P/ TSX Global Base Metals Index lost 2.67% to 88.93, and the S&P/TSX Global Mining Index gained 0.56% to 75.14. Seabridge Gold rose $2.40 to $20.09 per share. The company reported on Aug. 22 that the 200,000 share options issued to subscribers in connection with its $17-million, private-placement financing have been exercised, yielding additional proceeds of $3.4 million that will be used as general working capital. The company also announced on Aug. 15 that it has started exploration drilling at its wholly owned Snowstorm project in northern Nevada. Seven to 10 structural and stratigraphic targets will be tested in the 7,000-metre drill program. The initial work program could help refine targeting for exploration, including further geophysical surveys and drilling. SSR Mining rose $1.51 to $22.18 per share. The company announced on Aug. 19 that it had closed a private-placement transaction with SilverCrest Metals in which it bought 780,000 SilverCrest shares at $5.85 per share. SSR Mining now holds 9 million SilverCrest shares, at an average cost of $3.91 per share.

In early August, SSR Mining reported consolidated production in the second quarter of 98,334 equivalent oz. gold at cash costs of US$775 per payable oz. gold sold. It also posted positive income from operations at all three of its mines totalling US$29.8 million, net income of US$12.4 million, and adjusted attributable net income of US$17.8 million, or 15¢ per share. Torex Gold Resources rose $1.50 to $20.60 per share. The company announced on Aug. 22 that it would hedge 96,000 oz. gold sales over the next year. Torex has set the floor price of the monthly gold collars at US$1,400 per oz., with the ceiling price ranging from US$1,666 per oz. in September 2019 to US$1,768 per oz. in August 2020. “We are currently in a debtrepayment phase, and after this is complete, TSX MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Belo Sun Mng BSX 35633 0.72 0.30 0.39 + 0.08 Barrick Gold ABX 26792 25.61 23.72 25.45 + 1.07 B2Gold Corp BTO 26422 4.85 4.53 4.66 - 0.07 OceanaGold OGC 23644 3.22 2.85 3.13 - 0.13 Kinross Gold K 19321 6.70 6.07 6.69 + 0.35 Yamana Gold YRI 14926 4.86 4.23 4.83 + 0.41 Suncor Energy SU 13083 38.11 36.91 37.04 - 0.26 New Gold NGD 12452 1.65 1.53 1.60 + 0.02 Stornoway Diam SWY 10720 0.03 0.02 0.02 - 0.01 Royal Nickel RNX 10718 0.51 0.42 0.45 + 0.01

we will be building cash to fund the construction of Media Luna, and other initiatives,” Fred Stanford, Torex’s president and CEO, said in a press release. “Given these uses for near-term cash flow, it is a prudent business decision to lock in some price protection for our primary product.” The company expects to update the resource estimate for Media Luna before year-end. Media Luna, south of the Balsas River in Mexico, was discovered

in March 2012. Torex reiterated its 2019 sales guidance of 430,000 oz. gold. Prophecy Development rose 56.4% to 31¢ a share. The company announced on Aug. 19 that it has formed two wholly owned subsidiaries in B.C. — Silver Elephant Mining Corp. and Asia Mining Inc. — to “facilitate potential spin-offs” of its Pulacayo-Paca silver mining project in Bolivia, and its Ulaan Ovoo and Chandgana coal mines in Mongolia. TNM

TSX GREATEST PERCENTAGE CHANGE

Prophecy Coal Sabina Gd&Slvr Belo Sun Mng St Augustine Xanadu Mines Horizonte Mnls Avesoro Res Mawson Res Corvus Gold Roxgold EurOmax Res Stornoway Diam Starcore Intl NextSource Mat Imperial Metal Largo Res Orosur Mng Moneta Porcpn SouthGobi Res Loncor Res

PCY SBB BSX SAU XAM HZM ASO MAW KOR ROXG EOX SWY SAM NEXT III LGO OMI ME SGQ LN

3818 4090 35633 128 13 273 26 477 487 5390 64 10720 288 2270 92 9660 22 483 27 103

0.31 2.17 0.72 0.03 0.06 0.06 1.49 0.20 2.07 1.39 0.06 0.03 0.10 0.09 2.91 1.55 0.08 0.12 0.12 0.18

0.20 1.62 0.30 0.02 0.05 0.04 1.10 0.18 1.72 1.14 0.04 0.02 0.09 0.07 2.50 1.36 0.07 0.10 0.11 0.16

0.31 2.13 0.39 0.03 0.06 0.06 1.33 0.19 2.05 1.35 0.04 0.02 0.10 0.07 2.50 1.36 0.07 0.11 0.11 0.16

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

TSX GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Franco-Nevada Kirkland Lake Agnico Eagle Wheaton Prec M Seabridge Gld Pretium Res SSR Mining Torex Gold First Majestic Pan Am Silver Nutrien Ero Copper Labrador IOR Imperial Metal Teck Res HudBay Min Lithium Amer Suncor Energy Largo Res Aura Minerals

56.4 28.3 26.2 25.0 22.2 22.2 20.9 15.2 14.5 14.4 38.5 25.0 20.0 17.6 13.8 12.8 12.5 12.5 12.0 11.1

VOLUME WEEK (000s) CLOSE CHANGE

FNV KL AEM WPM SEA PVG SSRM TXG FR PAAS NTR ERO LIF III TECK.B HBM LAC SU LGO ORA

1947 128.29 3288 62.94 3131 81.82 4019 38.19 324 20.09 3815 18.06 1323 22.18 1904 20.60 3474 14.62 1530 23.21 4100 63.88 624 19.46 1182 25.37 92 2.50 5952 21.57 3998 4.05 421 4.36 13083 37.04 9660 1.36 3 16.66

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

5.19 4.35 3.42 3.04 2.40 1.73 1.51 1.50 1.49 1.32 2.23 1.05 0.89 0.40 0.38 0.29 0.29 0.26 0.20 0.19

TSX VENTURE EXCHANGE / AUGUST 19–23 The S&P/TSX Venture Composite Index gained 2% to 581.95 during the trading week. Great Bear Resources recorded the biggest value gain, rising $1.45 to $6.52. On Aug. 21, the company announced the latest drill results from the Hinge and Dixie Limb zones on its Dixie gold project in Red Lake, Ontario. Highlights of the drill results include the discovery of a steeply plunging, high-grade subzone in the upper west of previous drilling in the Hinge zone. Results include 30.81 grams gold per tonne over 3 metres within a broader zone of 7.4 grams gold over 13 metres, from a 68-metre vertical depth. The Hinge subzone was also tested to 140 metres’ vertical depth, where assays returned 20.41 grams gold per tonne over 2 metres, within a wide interval of 2.07 grams gold over 30 metres. For Dixie Limb, recent drill results show 21.54 grams gold per tonne over 2 metres within a broader interval of 9.68 grams gold over 6 metres. Drilling continues to find high-grade gold intervals near Hingezone-style, gold-bearing veins in contact with the Dixie Limb. Broad intervals of low to moderate gold grades were also present at all locations drilled. Equinox Gold’s shares were up $1.30 to close at $8.70. The company announced on Aug. 20 that it has consolidated its common

shares at a ratio of 5 to 1. The consolidation, which lowered its outstanding shares from 566.3 million to 113.3 million, was necessary for Equinox to pursue a dual listing on a U.S. stock exchange. After the consolidation, shares issued pursuant to the company’s outstanding options, warrants, restricted share units and other convertible securities will be adjusted on the same basis. The closing of a bought-deal financing underwritten by Canaccord Genuity Corp. and Leede Jones Gable Inc. on Aug. 22 drove Cantex Mine Development’s shares up 60¢ to close at $6.75. The company raised $12 million through issuing 1 million charity flow-through shares at $6.52 per share, and a further 824,000 flow-through shares at $6 per share. Gross proceeds from the financTSX-V MOST ACTIVE ISSUES

K92 Mining Goliath Res Stans Energy African Gold Gratomic Nexus Gold Sky Gold Pacton Gold Gold Finder Ex Golden Goliath

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

KNT 10210 GOT 10195 HRE 9972 AGG 9532 GRAT 6843 NXS 6381 SKYG 6009 PAC 5736 VENZ 5665 GNG 5107

2.53 0.15 0.09 0.59 0.04 0.12 0.06 0.24 0.09 0.07

1.80 0.08 0.03 0.30 0.02 0.09 0.05 0.16 0.05 0.04

2.22 - 0.33 0.12 + 0.02 0.03 - 0.06 0.48 + 0.17 0.03 - 0.01 0.10 - 0.02 0.05 unch 0.00 0.23 + 0.06 0.05 unch 0.00 0.06 + 0.02

ing will help cover exploration expenses that qualify as flow-through mining expenses. Gowest Gold rose 88.5% to 25¢ per share, after it entered into a settlement agreement on Aug. 19 with PGB Timmins Holdings regarding Gowest’s alleged defaults under a 2016 Pre-Paid Forward Gold Purchase Agreement. Under the settlement agreement, PGB Timmins has withdrawn two notices — one

relating to events of default and termination, and the other an intention to enforce security — that it delivered to Gowest in early August. In exchange, Gowest Gold must pay PGB Timmins a total of US$9 million in cash before Oct. 16, and 3,500 oz. gold, at a 15% rate of gold produced, from future production from the Bradshaw gold deposit, which forms part of Gowest’s North Timmins gold project.TNM

TSX-V GREATEST PERCENTAGE CHANGE

CWN M’g Acq Noble Metal Waseco Res Gowest Gold Altan Nevada Orex Mnrls North Am Nickl Benz Mining MacDonald Mns African Gold Stans Energy Eurotin Kilo Goldmines Magna Terra BC Moly Golden Harp Rosita Mg Corp Candente Gold Canada One Castle Peak Mg

GCCC NMG.H WRI GWA ANE REX NAN BZ BMK AGG HRE TIN.H KGL MTT BM.H GHR.H RST CDG CONE CAP

20 234 422 376 167 920 364 670 3079 9532 9972 590 124 136 3 17 133 223 20 125

0.07 0.01 0.04 0.26 0.07 0.12 0.03 0.13 0.08 0.59 0.09 0.01 0.01 0.02 0.04 0.17 0.06 0.03 0.03 0.02

0.03 0.01 0.02 0.19 0.04 0.06 0.02 0.07 0.05 0.30 0.03 0.01 0.01 0.02 0.00 0.11 0.00 0.02 0.03 0.01

0.07 0.01 0.04 0.25 0.07 0.12 0.03 0.12 0.08 0.48 0.03 0.01 0.01 0.02 0.04 0.11 0.04 0.02 0.03 0.01

TSX-V GREATEST VALUE CHANGE

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

+ 133.3 + 100.0 + 100.0 + 88.5 + 85.7 + 84.6 + 66.7 + 60.0 + 60.0 + 52.4 - 70.6 - 50.0 - 50.0 - 40.0 - 38.5 - 36.4 - 36.4 - 33.3 - 33.3 - 33.3

VOLUME WEEK (000s) CLOSE CHANGE

Great Bear Res Equinox Gold Comet Inds SilverCrest Cantex Mn Dev Aurania Res Novo Res BonTerra Res Itafos Bear Creek Mng O3 Mining K92 Mining Cornerstone Ca Pac Booker Min Hut 8 Mining Metalla Rylty Metalore Res Golden Secret Sailfish Rylty Ethos Gold

GBR EQX CMU SIL CD ARU NVO BTR IFOS BCM OIII KNT CGP BKM HUT MTA MET TBRD FISH ECC

952 1837 68 919 529 152 1264 808 47 434 144 10210 39 8 230 1335 3 80 663 732

6.52 8.70 3.50 7.84 6.75 3.05 2.54 2.63 1.35 2.44 2.59 2.22 3.25 1.52 2.38 1.10 0.90 1.15 1.18 0.24

+ 1.45 + 1.30 + 0.75 + 0.70 + 0.60 + 0.35 + 0.33 + 0.33 + 0.26 + 0.24 - 0.37 - 0.33 - 0.25 - 0.12 - 0.10 - 0.10 - 0.10 - 0.09 - 0.08 - 0.07

U.S. MARKETS / AUGUST 19–23 The Dow Jones Industrial Average fell 0.99% to 25,628.90, and the S&P 500 Index dropped 1.44% to 2,847.11. Barrick Gold rose US75¢ to US$19.14 per share. The company reported second-quarter production of 1.35 million oz. gold, compared with 1.37 million oz. in the first quarter of the year. Net earnings came in at 11¢ per share — up from 6¢ per share in the first quarter — and adjusted net earnings were 9¢ per share, down from 11¢ per share in the first quarter. Debt net of cash was the same at US$3.7 billion, after payment of its first-quarter dividend, and Barrick kept the 4¢ dividend per share in the second quarter. After June, the gold major repurchased US$248 million of outstanding debt due in 2020, which it says could save annualized interest of US$12 million. Net cash from operating activities reached US$434 million. Shares of AngloGold Ashanti rose US$1.49 to US$22.53. The company reiterated its 2019 production guidance of between 3.25 million and 3.45 million oz. gold at total cash costs of between US$730 and US$780 per oz. gold, and all-in sustaining costs of between US$935 and US$995 per oz. gold. Production in the first half reached 1.55 million oz. at

18_SEPT2_MarketNews.indd 18

total cash costs of US$792 per oz. gold, compared to 1.58 million oz. at total cash costs of US$807 per oz. gold in the first six months of 2018. All-in sustaining costs in the first six months of 2019 came in at US$1,002 per oz. gold — a 2% year-on-year improvement. During the second quarter, production rose 7% to 801,000 oz. from 752,000 oz. gold in the first quarter. Second-quarter free cash flow reached US$78 million, compared with an outflow of US$109 million in the first quarter. Harmony Gold Mining’s shares rose 20.5%, or US61¢, to close at US$3.58. The gold-mining and exploration company, which operates in U.S. MOST ACTIVE ISSUES

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

Vale* VALE 101215 Freeport McMoR* FCX 83428 Yamana Gold* AUY 79641 Barrick Gold * GOLD 75926 Kinross Gold* KGC 65664 Harmony Gold* HMY 58940 Turquoise HIl* TRQ 54504 United States S* X 52629 Gold Fields* GFI 43915 Hecla Mining* HL 38471

11.05 9.42 3.65 19.25 5.04 3.63 0.55 12.50 6.11 1.69

10.39 8.80 3.19 17.88 4.58 2.84 0.43 11.08 5.11 1.44

10.46 8.83 3.62 19.14 5.03 3.58 0.48 11.18 6.10 1.67

- 0.42 - 0.27 + 0.28 + 0.75 + 0.25 + 0.61 + 0.01 - 0.10 + 0.71 + 0.22

South Africa and Papua New Guinea, reported that gold production during the year ended June 30 increased 17% to 1.44 million ounces. A full year of production from Hidden Valley, an open-pit, gold-silver mine in Papua New Guinea, and the Moab Khotsong gold mine in

South Africa — which Harmony acquired from AngloGold Ashanti in March 2018 — boosted annual gold production and cash flows. The company reported a net loss in the 2019 fiscal year of US$185 million, compared to a net loss of US$321 million in the 2018 fiscal year. TNM

U.S. GREATEST PERCENTAGE CHANGE

Harmony Gold* HMY Hecla Mining* HL Seabridge Gld* SA Gold Fields* GFI McEwen Mng* MUX First Majestic* AG IAMGOLD* IAG Pretium Res* PVG Wheaton Prec M* WPM Yamana Gold* AUY Mosaic* MOS Peabody Enrgy* BTU Intrepid Pots* IPI HudBay Min* HBM Lithium Amer* LAC Arch Coal* ARCH CONSOL Energy* CEIX Vale* VALE Nutrien* NTR Freeport McMoR* FCX

VOLUME WEEK (000s) HIGH LOW CLOSE CHANGE

58940 3.63 38471 1.69 2630 15.23 43915 6.11 15538 1.97 19097 11.06 19973 3.66 9765 13.63 15114 28.74 79641 3.65 21882 20.13 4136 19.90 1987 3.19 3049 3.32 528 3.61 963 78.56 1727 18.57 101215 11.05 3820 50.29 83428 9.42

2.84 1.44 12.85 5.11 1.67 9.47 3.19 11.95 25.97 3.19 17.95 17.10 2.85 3.01 3.25 72.30 16.22 10.39 47.84 8.80

3.58 1.67 15.16 6.10 1.96 11.01 3.66 13.61 28.73 3.62 18.01 17.51 2.88 3.06 3.28 72.53 16.42 10.46 48.03 8.83

+ 20.5 + 15.2 + 13.9 + 13.2 + 12.0 + 11.2 + 10.6 + 10.5 + 8.5 + 8.4 - 8.8 - 8.7 - 8.0 - 6.4 - 6.0 - 5.6 - 4.8 - 3.9 - 3.5 - 3.0

U.S. GREATEST VALUE CHANGE

Franco-Nevada* FNV Kirkland Lake* KL Agnico Eagle* AEM Wheaton Prec M* WPM Seabridge Gld* SA AngloGold Ash* AU Pretium Res* PVG AG First Majestic* Barrick Gold * GOLD Newmont Gdcorp* NEM Arch Coal* ARCH MartinMarietta* MLM Nutrien* NTR Mosaic* MOS Peabody Enrgy* BTU NACCO Ind* NC Rio Tinto* RIO CONSOL Energy* CEIX Black Hills* BKH Chevron Corp* CVX

VOLUME WEEK (000s) CLOSE CHANGE

2651 96.52 6051 47.32 5443 61.58 15114 28.73 2630 15.16 13825 22.53 9765 13.61 19097 11.01 75926 19.14 33056 39.30 963 72.53 2838 252.33 3820 48.03 21882 18.01 4136 17.51 46 48.86 11190 47.98 1727 16.42 1529 76.41 28190 115.18

+ 3.74 + 3.18 + 2.48 + 2.24 + 1.85 + 1.49 + 1.29 + 1.11 + 0.75 + 0.72 - 4.29 - 2.51 - 1.75 - 1.73 - 1.67 - 0.94 - 0.84 - 0.83 - 0.76 - 0.63

2019-08-27 6:59 PM

GLOBAL MINING NEWS · SINCE 1915

THE NORTHERN MINER / SEPTEMBER 2–15, 2019

M E TA L S , M I N I N G A N D M O N EY M A R K E T S Tuesday, August 27, 2019 Precious Metals Price (US$/oz.) Change $1495.50 -13.55 Gold Silver $17.05 -0.11 Platinum $860.00 +26.00 Palladium $1482.00 +35.00 Base Metals Nickel Copper Lead Zinc

TSX WARRANTS

PRODUCER AND DEALER PRICES

SPOT PRICES COURTESY OF SCOTIABANK

Price (US$/tonne) Change $15675.00 +40.00 $5671.50 +50.00 $2091.50 +33.00 $2273.50 +21.00

LME WAREHOUSE LEVELS Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, August 22, 2019 (change from August 15, 2019 in brackets): 7180 (+460) Aluminium Alloy Aluminium 941350 (-35350) Copper 328250 (+26500) Lead 79400 (-2175) Nickel 149850 (+5058) Tin 6115 (+1360) Zinc 70300 (-3325)

Coal: Central Appalachia, 12,500 Btu, 1.2 S02-R,W: US$60.30 Coal: Powder River Basin, 8,800 Btu, 0.8 S02-R, W: US$12.05 Cobalt: US$14.29/lb. Copper: US$2.54/lb. Copper: CME Group Futures Sept. 2019: US$2.55/lb.; Oct. 2019: US$2.55/lb Iridium: NY Dealer Mid-mkt US$1,460.00/tr oz. Iron Ore 62% Fe CFR China-S: US$86.00/tonne Lead: US$0.94/lb. Phosphate Rock: US$86.00/tonne Potash: US$226.00/tonne Rhodium: Mid-mkt US$4,005.00 tr. oz. Ruthenium: Mid-mkt US$246.00/tr. oz. Silver: Handy & Harman Base: US$17.72 per oz.; Handy & Harman Fabricated: US$22.14 per oz. Tin: US$7.28/lb. Uranium: U3O8, Trade Tech spot price: US$24.90 per lb U308 Zinc: US$1.03/lb. Prices current Aug. 27, 2019

NORTH AMERICAN STOCK EXCHANGE INDICES

52-week

Index Aug 23 Aug 22 Aug 21 Aug 20 Aug 19 High Low S&P/TSX Composite 16037.58 16253.46 16309.23 16213.31 16304.05 15527.30 12400.15 S&P/TSXV Composite 581.95 578.10 575.90 576.68 569.85 1050.26 883.52 S&P/TSX 60 956.68 971.09 973.95 967.18 974.30 896.74 709.99 S&P/TSX Global Gold 260.51 251.95 252.73 253.62 246.63 218.90 149.29 DJ Precious Metals 208.73 208.73 209.47 209.55 203.89 420.72 130.95

TSX SHORT POSITIONS

TSX VENTURE SHORT POSITIONS

Short positions outstanding as of Aug 15, 2019 (with changes from Jul 31, 2019) Largest short positions NGD 22038453 6351043 7/31/2019 New Gold Nemaska Lith NMX 20520223 566615 7/31/2019 Sandstorm Gold SSL 20378880 226757 7/31/2019 Ivanhoe Mines IVN 14387645 -374514 7/31/2019 Barrick Gold ABX 13506684 1549141 7/31/2019 Yamana Gold YRI 11404776 -425980 7/31/2019 Nexgen Energy NXE 11034942 862456 7/31/2019 Kinross Gold K 9737466 -2531278 7/31/2019 Royal Nickel RNX 9446685 536923 7/31/2019 First Mg Fin FF 9133017 242116 7/31/2019 Copper Mtn Mng CMMC 8873036 25279 7/31/2019 Sherritt Intl S 8051826 219154 7/31/2019 First Quantum FM 7825635 379659 7/31/2019 Suncor Energy SU 7359499 1245343 7/31/2019 Premier Gold M PG 7321588 251029 7/31/2019 Largest increase in short position NGD 22038453 6351043 7/31/2019 New Gold Excellon Res EXN 2493534 1972403 7/31/2019 Barrick Gold ABX 13506684 1549141 7/31/2019 Argonaut Gold AR 5030318 1249797 7/31/2019 Suncor Energy SU 7359499 1245343 7/31/2019 Largest decrease in short position Kinross Gold K 9737466 -2531278 7/31/2019 Turquoise HIl TRQ 4533765 -1557451 7/31/2019 Largo Res LGO 1321611 -781662 7/31/2019 Champion Iron CIA 478517 -665219 7/31/2019 Euro Sun Mg ESM 202800 -495310 7/31/2019

Short positions outstanding as of Aug 15, 2019 (with changes from Jul 31, 2019) Largest short positions Novo Res NVO 1778028 150057 7/31/2019 Pure Gold Mg PGM 1663209 1252314 7/31/2019 Brixton Metals BBB 1053397 728103 7/31/2019 Newport Expl NWX 1000000 955000 7/31/2019 GrowMax Res GRO 892000 862000 7/31/2019 SilverCrest SIL 874290 78303 7/31/2019 Cobalt 27 Cap KBLT 869377 -26130 7/31/2019 Western Mag WMG 848481 -20277 7/31/2019 K92 Mining KNT 763719 373531 7/31/2019 Pacton Gold PAC 671233 331959 7/31/2019 Goliath Res GOT 651327 418470 7/31/2019 Global Energy GEMC 594094 576356 7/31/2019 Kootenay Silvr KTN 581897 267176 7/31/2019 Klondike Gold KG 569914 367814 7/31/2019 IMPACT Silver IPT 549137 228433 7/31/2019 Largest increase in short position Pure Gold Mg PGM 1663209 1252314 7/31/2019 Newport Expl NWX 1000000 955000 7/31/2019 GrowMax Res GRO 892000 862000 7/31/2019 Brixton Metals BBB 1053397 728103 7/31/2019 Global Energy GEMC 594094 576356 7/31/2019 Largest decrease in short position VIT 268038 -70063042 7/31/2019 Victoria Gold Equinox Gold EQX 451533 -1641905 7/31/2019 Gabriel Res GBU 79109 -1199986 7/31/2019 Garibaldi Res GGI 143907 -1075865 7/31/2019 Minera Alamos MAI 241131 -709616 7/31/2019

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 Gran Colombia Gold (GCM.WT.B) - One warrant to purchase one common share of the Issuer at $2.21 until expiry.

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

Osisko Gold Royalties (OR.WT) - Wt buys sh @ $36.5 to Feb 18/22 Platinum Group Metals Ltd. (PTM.WT.U) - One Warrant to purchase one common share of the Issuer at US$0.17 until expiry Sandstorm Gold (SSL.WT.B) - One Warrant to purchase one common share of the Issuer at US $14.00 until expiry. Sherritt International Corporation (S.WT) - Each whole Warrant entitles the holder to acquire between 1.00 and 1.25 additional common shares (as bulletin 20180062 table ) determined based on the Applicable Reference Cobalt Price at an exercise price of $1.95 per Warrant at any time prior to the Expiry Date Sprott Resource Corp (SRHI.WT) - Wt buys sh @ $0.3333 to Feb 09/22

TSX VENTURE WARRANTS 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. Avino Silver & Gold Mines Ltd. (ASM. WT) - Wt buys sh @ US$0.2 to Nov 28/19 Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.30 per share. Boreal Metals Corp. (BMX.WT) - One warrant to purchase one common share at $0.50 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. Equinoxgold Corp (EQX.WT) - One warrant to purchase one common share at $3.00 per share. Falco Resources Ltd. (FPC.WT) - One warrant to purchase one common share at $1.70 per share. Firefox Gold Corp. (FFOX.WT) - One warrant to purchase one common share at $3.00 per share. Goldstar Minerals (GDM.RT) - One Right to purchase one common share at $0.03 per share. Goldstar Minerals Inc. (GDM.RT) - One (1) Right and $0.05 are required to purchase one common share. JDL Gold Corp. (JDL.WT) - Wt buy sh @ $3.00 to Oct 06/21 Jet Metal (JET.WT) - Wt buys sh @ $0.25 to Sep 16/19 Kootenay Silver Inc. (KTN.WT) - Wt buys sh @ $0.55 to Apr 21/21 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 Millennial Lithium Corp. (ML.WT) - One warrant to purchase one common share at $4.25 per share. Sandfire Resources America Inc. (SFR.RT) - Eight (8) Rights exercisable for One (1) share at $0.06 per unit. Tintina Resources Inc. (TAU.RT) - Nine(9) Rights exercisable for one share at $0.06 per share. Trek Mining (TREK.WT) - Wt buy sh @ $3.00 to Oct 06/21 Vision Lithium Inc. (VLI.WT) - One warrant to purchase one common share at $0.15 per share. Yellowhead Mining Inc. (YMI.RT) - One (1) Right and $0.12 are required to prchase one Share

NEW 52-WEEK HIGHS AND LOWS AUGUST 19–23, 2019 103 New Highs Desert Gold* African Gold African Gold* Agnico Eagle Agnico Eagle* AngloGold Ash* AurCrest Gold AurCrest Gold* Barrick Gold Barrick Gold * Belo Sun Mng Belo Sun Mng* Benchmark Met Benz Mining Benz Mining* Blackrock Gold Blackrock Gold* Blue Lagoon Blue Star Gold Bonanza Gold* Canarc Res* Cantex Mn Dev Cantex Mn Dev* Chalice Gold M* Commerce Res Commerce Res*

Desert Mtn Egy DRDGOLD* Dundee Prec Mt Eldorado Gold Eldorado Gold* Equinox Gold First Majestic First Point* Franco-Nevada Franco-Nevada* Full Metal Mnl* Giga Metals* Golden Goliath Golden Goliath* GoldMining GoldMining* Great Bear Res Great Bear Res* Green River Greenshield Ex Harmony Gold* Intgr Egy Sol* Kootenay Silvr Kootenay Silvr* Leagold Mg Leagold Mg*

DAILY METAL PRICES

MacDonald Mns Sabina Gd&Slvr Altura Mining* HudBay Min HudBay Min* MacDonald Mns* Sabina Gd&Slvr* Alumina Ltd* Amador Gold IM Exploration Marathon Gold Silvercorp Met Marathon Gold* Silvercorp Met* Anfield Energy* Joshua Gold* Arch Coal* Juggernaut Exp MartinMarietta* St Augustine Cameo Cobalt* Lake Forest Mi* Minco Silver* Strategic Metl Largo Res Newport Expl Strategic Metl* Casa Minerals Casa Minerals * Largo Res* Nighthawk Gold Stuhini Explor Chakana Copper Lithium Chile Nighthawk Gold* Talisker Res Chakana Copper* Matica Ent NovaGold Res Talisker Res* Columbus Gold Mechel* NovaGold Res* Teuton Res Columbus Gold* Medinah Mnrls* NV Gold Teuton Res* CONSOL Energy* MGX Minerals NV Gold* Torex Gold Cruz Cobalt MGX Minerals* Orezone Gold Torex Gold* Cruz Cobalt* Mineworx Tech* Orezone Gold* TriStar Gold* Osino Res United Res Hdg* Defense Metals* Mirasol Res Delrey Metals Mosaic* Pan Am Silver* Valterra Res* Delrey Metals * Napier Vent* Pangolin Dia Victoria Gold Far Res Navy Res Pivit Explor Vizsla Res Niocorp Dev Pretium Res Wesdome Gold First Cobalt Niocorp Dev* Pretium Res* Wheaton Prec M First Cobalt * Noram Vent* Pure Nickel Wheaton Prec M* Fission Uran* Gold Rush Cari* Noront Res Pure Nickel* Winston Gold Nrthn Graphite* Rio Silver* Worldwide Res* Golden Arrow 79 New Lows Golden Arrow* NxGold Ltd Roxgold Allegiant Gold* Gratomic OceanaGold Roxgold* Altiplano Met* Highway 50 Gld* Orocobre Royal Gold

Osisko Metals* Peabody Enrgy* Pine Cliff En* PolyMet Mng PolyMet Mng* Portofino Res* Rhyolite Res Sama Res Sama Res* Skyharbour Res Skyharbour Res* Syrah Res* Teck Res Teck Res* Trevali Mng Trevali Mng* Turquoise HIl Turquoise HIl* Vale* Vendetta Mng* Voyageur Min Western U&V Western U&V*

CANADIAN GOLD MUTUAL FUNDS

Daily Metal Prices Date Aug 26 Aug 23 Aug 22 Aug 21 Aug 20 BASE METALS (London Metal Exchange -- Midday official cash/3-month prices, US$ per tonne) Al Alloy N/A 1154/1165 1155/1170 1190/1190 1185/1185 Aluminum N/A 1745/1769.50 1738/1766 1750.50/1780 1755.50/1785 Copper N/A 5674.50/5695 5667.50/5690 5696/5723.50 5697.50/5727 Lead N/A 2082/2082 2067/2065 2084/2088 2044/2047 Nickel N/A 15750/15700 15750/15700 15750/15730 15850/15820 Tin N/A 16025/15975 15875/15890 16150/16155 16400/16400 Zinc N/A 2260/2257 2246/2246 2256/2255 2225/2239 PRECIOUS METAL PRICES (London fix, LBMA silver price, US$ per troy oz.) Gold AM N/A 1495.50 1498.70 1499.65 1502.65 Gold PM N/A 1503.80 1502.05 1503.25 1504.55 Silver N/A 17.05 16.96 17.11 17.02 Platinum N/A 851.00 855.00 853.00 847.00 Palladium N/A N/A 1478.00 1491.00 1493.00

Fund BMO Prec Mtls Fd A BMO ZGD BMO ZJG CIBC Prec Metal Fd A Dyn Prec Metls Fd A Galileo GOGO Harvest HGGG Horizons HEP IG Mac GbPMetCl A iShares XGD Mac Prec Met Cl A NBI PrecMetFd Invt NPT Go&PrMinFd A NPT SilverEquCl A RBC GblPreMetFd A Sentry Pre Met Fd A TD Prec Mtl Fd Inv

Aug 23 ($) Aug 16 ($) Change ($) Change (%) YTDChange (%) MER (%) TotalAssets (M$) 23.85 23.04 0.81 3.53 20.80 2.40 62.64 63.46 59.81 3.65 6.11 31.01 0.61 64.82 61.33 3.49 5.69 32.36 0.60 13.08 12.48 0.60 4.84 23.78 2.44 47.15 8.66 8.50 0.16 1.88 23.02 2.71 403.30 14.22 13.59 0.64 4.70 29.76 0.60 25.43 25.16 0.27 1.06 5.93 30.76 29.56 1.20 4.05 22.52 0.83 11.50 11.07 0.43 3.89 27.56 2.75 33.69 16.23 15.50 0.72 4.66 21.50 0.61 763.50 60.36 58.09 2.27 3.90 27.75 2.53 63.02 16.49 15.76 0.73 4.63 27.43 2.46 29.54 40.40 38.91 1.50 3.84 14.40 3.19 5.97 5.55 0.42 7.51 16.96 2.98 43.53 41.86 1.67 3.99 24.24 2.13 338.97 40.64 38.99 1.65 4.23 15.00 2.43 188.54 43.85 41.97 1.88 4.48 24.15 2.27 118.38

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

Aug 23 Aug 22 Aug 21 Aug 20 Aug 19 1.3332 1.3296 1.3287 1.3319 1.3326 0.7501 0.7521 0.7526 0.7508 0.7504

Exchange rates (Quote Media, August 23, 2019) C$ to EURO C$ to YEN C$ to Mex Peso C$ to SA Rand C$ to AUS 1.1128 0.6787 80.0610 14.9026 11.4542 C$ to UK Pound C$ to China Yuan C$ to India Rupee C$ to Swiss Franc C$ to S. Korea Won 0.6139 5.3275 54.0975 0.7398 909.4595 US to AUS US to EURO US to YEN US to Mex Peso US to SA Rand 1.4796 0.9024 106.4460 19.8223 15.2479 US to UK Pound US to China Yuan US to India Rupee US to Swiss Franc US to S. Korea Won 0.8162 7.0837 71.9304 0.9836 1209.5600

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

19_SEPT2_MMMM.indd 19

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

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

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

GLOBAL MINING NEWS · SINCE 1915

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

2019-08-27 4:17 PM

S T O C K TA B L E S

MINING STOCKS listed on CANADIAN and U.S. EXCHANGES TRADING: AUGUST 19–23, 2019 (100s) Stock

WWW.NORTHERNMINER.COM

SEPTEMBER 2–15, 2019 / THE NORTHERN MINER

Week

12-month

Exc Volume High Low Last Change High Low

A 12 Exploration 10 1911 Gold* O 61 1911 Gold V 168 21C Metals* O 193 21C Metals 247 66 Resources 171 92 Resources V 705 92 Resources* O 9 Abacus Mining* O 22 Abacus Mining V 10 V 1088 Abcourt Mines Abcourt Mines* O 232 Aben Resources* O 1056 Aben Resources V 3328 Aberdeen Intl* O 10 Aberdeen Intl T 309 Abitibi Royal* O 3 Abitibi Royal V 11 AbraPlata Res* O 253 AbraPlata Res V 579 Acacia Mining* O 5 Academy Metals V 66 Adamera Min V 373 Adamera Min* O 75 Adex Mining V 36 Advance Gold V 735 Advantage Lith V 256 Advantage Lith* O 134 Adventus* O 11 Adventus V 68 Aethon Mineral V 435 AEX Gold V 155 Affinity Metal* O 1 African Gold* O 3528 African Gold V 9532 African Min* O 74 African Rainb* O 0 Aftermath Silv V 764 Aftermath Silv* O 460 Agnico Eagle* N 5443 Agnico Eagle T 3131 AgriMinco* O 540 Aguia Resource V 605 AJN Resources 36 Alacer Gold T 3871 Alamos Gold T 4547 Alamos Gold* N 13629 Alaska Pac Egy* O 1200 Alba Minerals* O 2 Albert Mining V 373 Albert Mining* O 9 Alcoa* N 16059 Aldebaran Res V 43 Alderon Iron* O 0 Alderon Iron T 175 Aldever Res* O 0 Aldever Res V 0 Alexco Res* X 7006 Alexco Res T 863 Algold Res V 25 Alianza Min V 602 Alianza Min* O 78 Alien Metals* O 0 Alio Gold T 317 Alio Gold* X 772 O 296 Allegiant Gold* V 255 Allegiant Gold Alliance Mng V 1540 Alliance Res* D 1933 Almaden Min T 151 X 1030 Almaden Min* Almadex Min* O 120 Almadex Min V 152 Almonty Ind * O 34 Almonty Ind T 41 Aloro Mining* O 210 Aloro Mining V 154 Alpha Lithium V 253 Alphamin Res * O 190 Alphamin Res V 229 ALQ Gold 457 Altai Resource V 412 Altair Res Inc V 540 Altamira Gold V 575 Altamira Gold* O 1066 Altan Nevada V 167 Altan Rio Min V 1535 Altiplano Met V 539 O 110 Altiplano Met* Altius Mnrls * O 146 Altius Mnrls T 282 Alto Ventures V 463 Altura Mining* O 241 Alturas Min V 1850 Altus Strat V 230 Alumina Ltd* O 149 ALX Uranium* O 35 ALX Uranium V 39 AM Resources V 213 Amador Gold V 107 Amarc Res V 33 Amarc Res* O 25 Amarillo Gold V 713 O 370 Amarillo Gold* Amazing Energy* O 108 Amer Intl Vent* O 50 O 25 American Batt* American Creek* O 547 V 2944 American Creek American CuMo* O 154 American Lith V 106 American Lith* O 187 American Mang* O 101 American Mang V 535 American Pac 6128 American Pac* O 387 American Uran V 18 O 2 AmericanSierra* Americas Silvr* X 2119 T 1749 Americas Silvr Amerigo Res T 438 Amerigo Res* O 238 Amex Expl* O 40 Amex Expl V 229 O 0 Amilot Capital* Amilot Capital V 173 Anaconda Mng* O 101 Anaconda Mng T 211 Andes Gold* O 12 Anfield Energy* O 211 Anfield Energy V 568 Angel Gold* O 15 Angel Gold V 87 Angkor Gold V 217 Angkor Gold* O 5 Anglo American* O 20 Anglo American* O 837 Anglo Pac Grp T 0 AngloGold Ash* O 0 AngloGold Ash* N 13825 Antioquia Gold V 526 Antioquia Gold* O 51 Antler Gold V 1 Antofagasta* O 13 Apex Res * O 8 Apex Res V 50 Appia Energy 106 Appia Energy* O 132 Applied Min* O 117 Aquila Res* O 215 Aquila Res T 277 Arch Coal* N 963 Arctic Star* O 78 Arctic Star V 1289 Arcus Dev Grp V 4021 Arcwest Explor V 1491 Arcwest Explor* O 91 Arena Min* O 345 Arena Min V 476 Argentina Lith V 83 Argentina Lith* O 34

20-23_SEPT2_StockTables.indd 20

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(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Argentum Silvr V 156 Argentum Silvr* O 24 Argo Gold 44 Argonaut Gold* O 175 Argonaut Gold T 2231 Arianne Phosph V 172 Arianne Phosph* O 75 Arizona Silver* O 58 Arizona Silver V 101 Armor Min V 3 Asanko Gold T 477 Asanko Gold* X 1650 Asante Gold 130 Ascendant Res T 356 Ascendant Res* O 25 Ascot Res V 287 19 Ascot Res * O Ashanti Gold V 907 V 2 Ashanti Sanko AsiaBaseMetals V 2 Asian Mineral V 30 Aston Bay V 1201 Aston Bay* O 116 Astorius Res V 13 ATAC Res V 472 ATAC Res* O 168 Atacama Res* O 14305 Atalaya Mining T 3 Athabasca Min* O 219 Athabasca Min V 213 Athena Silver* O 40 Atico Mining* O 98 Atico Mining V 62 Atlanta Gold* O 0 Atlas Cons Mng* O 10 Atlatsa Res T 168 Atlatsa Res* O 198 Atom Energy * O 9 Aton Resources* O 23 Aton Resources V 46 Aura Minerals* O 1 Aura Minerals T 3 Aura Resources V 181 Aura Resources* O 20 Auramex Res V 291 Aurania Res* O 39 Aurania Res V 152 Aurcana Corp V 419 O 115 Aurcana Corp* AurCrest Gold V 929 AurCrest Gold* O 120 Aurelius Min V 218 Aurex Energy V 30 Aurion Res * O 96 Aurion Res V 855 Aurora Royal V 249 AURYN Mining* O 11 Auryn Resource T 554 Auryn Resource* X 866 Aust Mines* O 215 Austin Res V 160 Austral Gold* O 6 Austral Gold V 28 Auxico Res 329 Avalon Advance T 2804 O 410 Avalon Advance* Avarone Metals* O 350 Avarone Metals 670 Avesoro Res T 26 Avesoro Res* O 1 Avidian Gold V 262 Avino Silver* X 3044 Avino Silver T 661 Avrupa Min V 181 Avrupa Min* O 106 Awale Res V 50 Axmin Inc V 107 Axmin Inc* O 8 V 38 Azarga Metals Azarga Metals* O 0 Azarga Uranium* O 200 Azarga Uranium T 581 Azimut Explor V 99 Azimut Explor* O 74 Azincourt Ener* O 160 Azincourt Ener V 257 Aztec Minerals V 137 Aztec Minerals* O 79 Azteca Gold* O 456 Azucar Min V 173 Azucar Min* O 219

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B2Gold Corp T 26422 B2Gold Corp* X 39760 Balmoral Res* O 300 Balmoral Res T 416 Balto Res V 25 Bankers Cobalt V 785 O 70 Bankers Cobalt* Bannerman Res* O 823 Banyan Gold V 163 Banyan Gold* O 0 Barkerville V 2626 Barkerville* O 426 V 84 Barksdale Cap Barksdale Cap* O 46 Barolo Venture V 5 Baroyeca Gold V 48 V 309 Barrian Mining Barrick Gold T 26792 Barrick Gold * N 75926 Barsele Min* O 70 Barsele Min V 8 Batero Gold* O 70 Batero Gold V 303 Bayhorse Silvr* O 253 Bayhorse Silvr V 191 BC Moly V 3 BCM Res V 103 BE Res V 22 BE Res* O 1 Bear Creek Mng V 434 Bear Creek Mng* O 246 Bearing Lith* O 25 Bearing Lith V 65 Beauce Gold V 52 Bell Copper V 21 Bell Copper* O 25 Belmont Res V 608 Belo Sun Mng T 35633 Belo Sun Mng* O 38426 BeMetals V 275 Benchmark Met* O 81 Benchmark Met V 2077 Benton Res V 93 Benton Res* O 5 Benz Mining V 670 Benz Mining* O 2 Berkwood Res V 926 Berkwood Res * O 66 Bessor Min V 32 Bitterroot Res V 16 Bitterroot Res* O 16 Black Hills* N 1529 Black Iron T 4932 Black Iron* O 142 1 Black Isle Res* O Black Mammoth V 5 Black Sea V 72 Black Sea * O 13 Black Tusk Res 1140 Black Tusk Res* O 23 Blackheath Res V 22 Blackrock Gold* O 514 Blackrock Gold V 2540 Blind Creek V 342 BLOX Inc* O 8 Blue Lagoon 74 90 Blue Moon Zinc* O Blue Moon Zinc V 235 Blue River Res V 1259

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(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Blue River Res* O 5 Blue Sky Uran* O 497 Blue Sky Uran V 872 Blue Star Gold V 791 BlueBird Batt V 301 BlueBird Batt* O 10 Bluenose Gold V 256 Bluestone Res* O 74 Bluestone Res V 80 Bold Ventures V 128 Bonanza Gold* O 16584 Bond Resources 17 BonTerra Res V 808 Boreal Metals V 3 Borneo Res Inv* O 54675 Bravada Gold V 184 O 260 Bravada Gold* Braveheart Res V 48 O 0 Braveheart Res* Bravo Multinat* O 21 Brazil Min* O 43614 BrightRock* O 67 Britannia Mng* O 40 Brixton Metals V 2234 Brixton Metals* O 1232 Broadway Gold* O 5 Brookmount Exp* O 379 Bryn Res* O 75 BTU Metals V 1745 Buenaventura* N 5391 Buffalo Coal V 45 Bullfrog Gold* O 513 Bullion Gold* O 1 Bunker Hill 15 BWR Explor V 708

0.01 0.01 0.01 unch 0.00 0.03 0.00 0.08 0.06 0.07 + 0.00 0.18 0.06 0.11 0.09 0.10 + 0.01 0.23 0.09 0.07 0.05 0.07 + 0.02 0.07 0.02 0.16 0.15 0.15 - 0.02 0.38 0.14 0.13 0.13 0.13 unch 0.00 0.28 0.13 0.14 0.12 0.14 unch 0.00 0.33 0.09 0.89 0.85 0.87 - 0.02 1.15 0.65 1.17 1.12 1.15 - 0.02 1.60 0.85 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.00 0.00 0.00 + 0.00 0.00 0.00 0.16 0.15 0.15 - 0.01 0.20 0.11 2.74 2.17 2.63 + 0.33 4.90 1.46 0.00 0.00 0.05 unch 0.00 0.17 0.04 0.00 0.00 0.00 - 0.00 0.00 0.00 0.18 0.15 0.17 - 0.01 0.18 0.05 0.13 0.12 0.13 - 0.00 0.14 0.04 0.18 0.16 0.17 unch 0.00 0.21 0.06 0.12 0.00 0.12 - 0.01 0.14 0.05 0.39 0.37 0.38 + 0.01 0.95 0.02 0.01 0.00 0.00 - 0.00 0.01 0.00 0.00 0.00 0.00 + 0.00 0.01 0.00 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.36 0.28 0.33 - 0.02 0.43 0.10 0.27 0.21 0.25 - 0.02 0.33 0.08 0.06 0.06 0.06 - 0.00 0.13 0.01 0.01 0.01 0.01 - 0.00 0.02 0.00 0.07 0.05 0.05 - 0.02 0.10 0.01 0.12 0.10 0.12 + 0.03 0.24 0.04 15.21 14.25 14.84 + 0.54 17.85 12.07 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.12 0.08 0.09 - 0.02 0.24 0.04 0.06 0.06 0.06 unch 0.00 0.07 0.06 0.19 0.08 0.18 + 0.09 6.60 0.05 0.05 0.03 0.05 + 0.01 0.06 0.03

Cabral Gold V 63 Cabral Gold* O 100 Cache Explor V 427 Cadillac Vent V 300 Caledonia Mng* X 91 Caledonia Mng T 10 Calibre Mng* O 10 California Gld 161 O 54 California Gld* Callinex Mines* O 5 Callinex Mines V 26 Cameco Corp* N 15374 Cameco Corp T 4326 O 147 Cameo Cobalt* Cameo Cobalt V 2573 Camino Min* O 11 Camino Min V 131 Camrova Res* O 10 Canada Carbon V 261 Canada Carbon* O 115 Canada Coal V 1463 V 645 Canada Cobalt Canada Cobalt * O 108 Canada One* O 9 Canada One V 20 Canada Rare V 115 O 36 Canada Rare* Canadian Engy V 1 Canadian Metal 563 Canadian Ore V 542 O 50 Canadian Ore* Canadian Prem V 72 CanAlaska Uran* O 65 CanAlaska Uran V 68 Canamex Gold* O 25 Canarc Res T 812 Canarc Res* O 330 Canasil Res V 655 V 206 Candelaria Mg Candente Coppr T 44 Candente Gold* O 20 Candente Gold V 223 CANEX Metals V 476 V 72 CaNickel Mng CaNickel Mng* O 2 Canoe Mng Vent V 696 Canoe Mng Vent* O 0 Canstar Res V 28 Canterra Mnls V 31 Canterra Mnls* O 4 Cantex Mn Dev* O 49 Cantex Mn Dev V 529 Canuc Res V 44 Canuc Res* O 9 Capstone Mng T 545 Cardero Res* O 36 Cardero Res V 167 Cardinal Res* O 59 Cardinal Res T 431 Cariboo Rose V 15 Carlin Gold V 250 Carrara Explor 462 Cartier Iron 105 Cartier Res V 362 Carube Copper V 286 Carube Copper* O 20 Casa Minerals V 863 Casa Minerals * O 175 Cascadero Copp V 61 Cassius Vents V 1 Castle Peak Mg V 125 Cautivo Mining 6 CellCube Enrgy 2202 O 2833 CellCube Enrgy* Centamin T 158 Centaurus Diam* O 142 Centerra Gold T 4051 Central Tim Ex V 14 V 74 Centurion Mnls Century Cobalt* O 332 Century Global T 41 Century Metals V 127 Cerro de Pasc 688 Cerro de Pasc * O 140 Cerro Grande 15 Cerro Mng* O 0 Cerro Mng V 0 Ceylon Graph V 87 Chakana Copper V 1165 O 209 Chakana Copper* Chalice Gold M* O 43 Chalice Gold M T 1022 Champion Bear V 5 Champion Iron* O 74 Champion Iron T 1628 Chatham Rock V 17 Chesapeake Gld V 194 Chesapeake Gld* O 220 Chevron Corp* N 28190 Chiboug Ind Mn V 970 Chiboug Ind Mn* O 22 Chilean Metals V 72 Chilean Metals* O 1 China Gold Int T 339 Cicada Vents V 603 CIM Intl Grp 1 Clarmin Explor V 500 Clean Comm* O 8 Clean Comm V 283 Cleghorn Mnls V 107 Cleveland-Clif* N 30252 Cliffmont Res V 0 Clifton Mng* O 78 Cloud Peak En* O 8199 CMC Metals* O 2 CMC Metals V 193 CNRP Mng* O 457 CNRP Mng 1087 Cobalt 27 Cap V 308 Cobalt Block V 367 Cobalt Block* O 236 Coeur Mng* N 29016 Colibri Res* O 19 Colibri Res V 324 Colombia Crest V 0

0.16 0.14 0.16 + 0.02 0.33 0.10 0.13 0.13 0.13 unch 0.00 0.25 0.10 0.04 0.04 0.04 - 0.01 0.07 0.03 0.02 0.02 0.02 unch 0.00 0.04 0.01 6.11 5.60 5.99 + 0.33 7.03 5.01 8.02 7.42 8.00 + 0.67 9.25 6.63 0.77 0.35 0.35 - 0.17 1.52 0.03 0.54 0.45 0.48 - 0.09 0.79 0.37 0.41 0.33 0.36 - 0.06 0.59 0.13 0.30 0.30 0.30 + 0.02 0.46 0.03 0.40 0.38 0.38 - 0.02 1.60 0.36 9.05 8.31 8.42 + 0.18 13.04 8.03 12.02 11.05 11.23 + 0.28 17.12 10.70 0.04 0.02 0.03 - 0.00 0.31 0.02 0.05 0.04 0.04 unch 0.00 0.32 0.04 0.09 0.09 0.09 + 0.00 0.15 0.07 0.13 0.00 0.13 + 0.01 0.20 0.09 0.00 0.00 0.00 - 0.00 0.07 0.00 0.07 0.07 0.07 + 0.01 0.18 0.05 0.05 0.05 0.05 unch 0.00 0.13 0.00 0.06 0.04 0.06 + 0.02 0.08 0.02 0.29 0.25 0.29 + 0.02 0.75 0.25 0.22 0.18 0.20 + 0.01 0.54 0.18 0.03 0.03 0.03 unch 0.00 0.08 0.01 0.03 0.03 0.03 - 0.02 0.10 0.02 0.06 0.06 0.06 + 0.01 0.11 0.04 0.05 0.04 0.05 + 0.01 0.08 0.02 0.00 0.00 0.07 unch 0.00 0.18 0.06 0.05 0.04 0.05 unch 0.00 0.09 0.04 0.19 0.16 0.16 - 0.03 0.45 0.14 0.13 0.13 0.13 unch 0.00 0.34 0.13 0.97 0.00 0.90 - 0.01 2.70 0.75 0.18 0.00 0.17 - 0.01 0.29 0.16 0.25 0.23 0.23 - 0.02 0.40 0.21 0.04 0.03 0.03 - 0.01 0.09 0.02 0.08 0.07 0.07 - 0.01 0.08 0.03 0.06 0.05 0.05 + 0.01 0.06 0.02 0.08 0.07 0.07 - 0.01 0.11 0.05 0.25 0.22 0.25 unch 0.00 0.69 0.15 0.05 0.05 0.05 - 0.01 0.08 0.04 0.02 0.02 0.02 unch 0.00 0.03 0.01 0.03 0.02 0.02 - 0.01 0.04 0.02 0.06 0.05 0.06 + 0.01 0.10 0.03 0.09 0.07 0.09 + 0.01 0.13 0.06 0.04 0.04 0.04 unch 0.00 0.09 0.03 0.05 0.04 0.05 + 0.01 0.05 0.02 0.00 0.00 0.01 unch 0.00 0.02 0.01 0.04 0.04 0.04 unch 0.00 0.25 0.04 0.03 0.00 0.02 - 0.01 0.04 0.01 0.02 0.01 0.01 - 0.00 0.03 0.01 5.23 4.45 5.09 + 0.55 5.23 0.13 6.99 5.80 6.75 + 0.60 6.99 0.18 0.04 0.04 0.04 unch 0.00 0.14 0.03 0.03 0.03 0.03 + 0.01 0.10 0.02 0.54 0.45 0.47 - 0.03 0.87 0.41 0.02 0.01 0.02 - 0.00 0.10 0.01 0.03 0.00 0.03 - 0.01 0.14 0.02 0.35 0.00 0.35 - 0.01 0.36 0.20 0.45 0.42 0.43 - 0.01 0.48 0.29 0.06 0.06 0.06 unch 0.00 0.06 0.02 0.02 0.02 0.02 unch 0.00 0.03 0.02 0.04 0.04 0.04 unch 0.00 0.17 0.03 0.09 0.00 0.09 + 0.04 0.13 0.05 0.18 0.17 0.17 - 0.01 0.19 0.11 0.04 0.04 0.04 - 0.01 0.08 0.03 0.03 0.03 0.03 unch 0.00 0.05 0.03 0.10 0.07 0.10 + 0.01 0.24 0.07 0.07 0.07 0.07 - 0.00 0.12 0.07 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.00 0.00 0.06 unch 0.00 0.08 0.04 0.02 0.01 0.01 - 0.01 0.02 0.01 0.17 0.00 0.16 + 0.05 0.39 0.08 0.11 0.09 0.10 + 0.01 0.34 0.06 0.08 0.06 0.08 - 0.00 0.30 0.04 2.30 2.16 2.29 + 0.09 2.34 1.39 0.17 0.13 0.17 + 0.04 1.00 0.09 12.16 11.24 12.01 + 0.12 12.16 4.76 0.05 0.04 0.04 - 0.01 0.20 0.03 0.09 0.07 0.07 - 0.01 0.27 0.05 0.09 0.03 0.04 - 0.05 0.20 0.00 0.23 0.22 0.22 - 0.01 0.25 0.11 0.06 0.06 0.06 unch 0.00 0.11 0.06 0.34 0.30 0.34 + 0.02 0.37 0.22 0.24 0.23 0.24 + 0.02 0.26 0.18 0.01 0.00 0.01 unch 0.00 0.01 0.01 0.00 0.00 0.09 unch 0.00 0.12 0.09 0.00 0.00 0.26 unch 0.00 0.42 0.26 0.13 0.00 0.13 + 0.04 0.20 0.08 0.23 0.18 0.20 - 0.03 0.54 0.18 0.17 0.14 0.15 - 0.01 0.41 0.14 0.14 0.12 0.14 + 0.01 0.14 0.08 0.17 0.00 0.15 - 0.01 0.17 0.10 0.16 0.16 0.16 unch 0.00 0.25 0.10 1.60 1.42 1.43 - 0.10 2.36 0.70 2.13 1.86 1.93 - 0.13 3.15 0.89 0.14 0.00 0.14 unch 0.00 0.19 0.13 3.86 3.23 3.84 - 0.02 4.65 1.41 2.92 2.42 2.90 - 0.08 3.50 1.03 118.74 114.35 115.18 - 0.63 127.60 100.22 0.11 0.09 0.11 unch 0.00 0.27 0.04 0.09 0.07 0.09 + 0.01 0.19 0.03 0.04 0.04 0.04 - 0.01 0.23 0.04 0.02 0.00 0.02 unch 0.00 0.06 0.01 1.52 1.44 1.47 - 0.03 2.15 1.41 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.00 0.00 0.19 unch 0.00 0.63 0.19 0.12 0.10 0.10 unch 0.00 0.20 0.10 0.02 0.02 0.02 + 0.00 0.03 0.01 0.04 0.03 0.04 unch 0.00 0.05 0.02 0.06 0.05 0.06 + 0.01 0.11 0.04 8.49 7.91 7.97 - 0.19 13.10 7.40 0.00 0.00 0.11 unch 0.00 0.60 0.05 0.11 0.11 0.11 - 0.00 0.20 0.04 0.08 0.04 0.05 + 0.01 2.60 0.03 0.04 0.04 0.04 unch 0.00 0.06 0.01 0.06 0.05 0.05 unch 0.00 0.11 0.04 0.42 0.34 0.37 - 0.01 1.58 0.20 0.56 0.47 0.49 - 0.01 2.02 0.27 3.94 3.82 3.87 + 0.01 7.02 3.27 0.06 0.05 0.06 + 0.01 0.22 0.05 0.05 0.04 0.04 unch 0.00 0.17 0.03 5.32 4.70 5.14 + 0.19 5.92 2.78 0.04 0.03 0.04 + 0.01 0.05 0.01 0.05 0.05 0.05 unch 0.00 0.08 0.03 0.00 0.00 0.19 unch 0.00 0.30 0.11

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

O 0 Colombia Crest* Colonial Coal V 117 Colorado Res V 1050 O 245 Colorado Res* T 650 Columbus Gold O 557 Columbus Gold* Comet Inds V 68 V 66 Commander Res O 200 Commander Res* V 626 Commerce Res O 13 Commerce Res* O 7 Compass Gold* V 435 Compass Gold 11246 X Comstock Mng* V 116 Comstock Mtls 63 Comstock Mtls * O Condor Gold T 41 Condor Gold* O 23 Condor Res V 91 Condor Res* O 75 V 94 Confedertn Mls V 388 Conquest Res V 143 Cons Woodjam CONSOL Coal Rs* N 142 N 1727 CONSOL Energy* CONSOL Energy* N 21037 O 243 Constantine Mt* V 201 Constantine Mt O 36 Contact Gold* Contact Gold V 62 O 1 Contact Mnrls* O 181 Contintl Gold* Contintl Gold T 1940 Contintl Prec* O 0 5 Copper Fox Mtl* O Copper Fox Mtl V 429 30 Copper Lake Rs V Copper Mtn Mng T 756 83 Copper Mtn Mng* O 0 Copper North M* O 62 Copper North M V 88 Copper Reef Mg Copperbank Res 552 O 71 Copperbank Res* Coral Gold * O 101 Coral Gold V 85 V 553 Cordoba Mnls O 212 Cordoba Mnls* Core Gold V 356 Core Gold* O 133 V 39 Cornerstone Ca O 9 Cornerstone Ca* Coro Mining T 576 9 Corsa Coal * O Corsa Coal V 30 Corvus Gold* O 209 Corvus Gold T 487 CR Capital V 34 64 Crazy Horse Res* O Crest Resource 486 Cresval Cap V 359 Critical Elem* O 31 Critical Elem V 178 V 257 CROPS O 13 Crown Mining* Crown Mining V 121 Cruz Cobalt 659 Cruz Cobalt* O 556 Crystal Lake* O 131 Crystal Lake V 2043 Crystal Peak V 68 Crystal Peak* O 54 O 0 CTGX Mining* 83 Currie Rose Rs V 20 CWN M’g Acq V Cyntar Venture 55 Cypress Dev* O 42 Cypress Dev V 557

0.03 unch 0.00 0.21 0.00 0.00 0.17 0.24 0.34 0.30 0.31 + 0.01 0.65 0.05 0.11 0.09 0.09 - 0.02 0.16 0.03 0.09 0.06 0.08 - 0.01 0.11 0.14 unch 0.00 0.31 0.16 0.14 0.15 0.11 0.12 0.11 0.11 + 0.00 0.24 2.60 3.50 2.75 3.50 + 0.75 3.50 0.07 0.09 0.09 0.09 + 0.01 0.17 0.05 unch 0.00 0.12 0.07 0.06 0.06 0.26 0.41 0.27 0.35 + 0.09 0.90 0.03 0.26 0.00 0.26 + 0.06 0.26 0.17 0.21 0.17 0.17 - 0.05 0.40 0.11 unch 0.00 0.71 0.24 0.21 0.24 0.03 0.13 0.11 0.11 - 0.00 0.33 0.03 unch 0.00 0.06 0.03 0.03 0.03 0.03 0.02 0.02 - 0.01 0.04 0.01 0.30 0.44 0.35 0.38 - 0.03 0.80 0.23 0.29 0.29 0.29 - 0.00 0.43 0.04 0.08 0.07 0.08 + 0.01 0.09 0.03 unch 0.00 0.07 0.04 0.04 0.04 0.12 unch 0.00 0.40 0.24 0.22 0.22 0.01 unch 0.00 0.03 0.02 0.02 0.02 0.03 0.05 0.04 0.05 + 0.01 0.09 13.86 12.84 12.91 - 0.35 21.13 12.66 16.22 18.57 16.22 16.42 - 0.83 47.49 7.96 7.29 7.55 + 0.26 16.09 6.14 0.28 0.32 0.30 0.30 - 0.00 0.57 0.39 unch 0.00 0.72 0.40 0.39 0.40 0.14 0.18 0.16 0.17 - 0.02 0.38 0.18 0.23 0.21 0.22 + 0.01 0.50 0.02 0.17 0.00 0.17 - 0.03 0.40 1.33 3.24 2.94 3.22 + 0.11 3.90 1.76 4.31 3.96 4.28 + 0.16 4.66 0.00 unch 0.00 0.28 0.00 0.00 0.00 0.07 0.00 0.06 - 0.02 0.10 0.06 0.10 0.09 0.09 - 0.01 0.13 0.08 0.02 0.02 0.02 + 0.01 0.04 0.01 0.70 0.67 0.68 + 0.01 1.23 0.65 0.53 0.00 0.51 - 0.00 0.95 0.48 0.00 0.00 0.02 unch 0.00 0.05 0.02 0.04 0.00 0.03 unch 0.00 0.07 0.03 0.02 0.02 0.02 + 0.01 0.03 0.02 0.04 0.06 0.05 0.05 - 0.01 0.08 0.02 0.04 0.03 0.04 - 0.00 0.06 0.30 0.28 0.30 + 0.01 0.34 0.24 0.32 0.39 0.36 0.39 + 0.01 0.44 0.06 0.07 0.06 0.06 - 0.01 0.17 0.04 0.05 0.04 0.05 - 0.00 0.14 0.16 0.19 0.16 0.17 - 0.01 0.33 0.11 0.14 0.12 0.12 - 0.01 0.25 2.80 0.25 7.90 3.25 - 3.40 3.20 0.03 2.50 2.45 2.45 - 0.20 3.61 0.05 0.10 0.09 0.10 + 0.01 0.12 0.42 0.40 0.40 - 0.05 1.10 0.37 0.51 0.58 0.51 0.55 - 0.03 1.45 1.13 1.55 1.30 1.54 + 0.21 2.72 1.55 2.07 1.72 2.05 + 0.26 3.39 0.02 unch 0.00 0.08 0.05 0.05 0.05 0.34 0.32 0.32 - 0.02 0.36 0.08 0.08 0.15 0.13 0.13 - 0.03 0.16 0.02 0.04 0.03 0.04 + 0.01 0.05 0.26 0.27 0.25 0.26 - 0.01 0.80 0.33 0.36 0.33 0.35 - 0.01 1.05 0.02 0.03 0.02 0.02 - 0.01 0.05 0.04 unch 0.00 0.10 0.04 0.04 0.04 0.04 0.05 0.04 0.04 - 0.01 0.17 0.03 0.05 0.03 0.04 - 0.01 0.05 0.02 0.03 0.02 0.02 - 0.00 0.10 0.18 0.27 0.21 0.27 + 0.05 0.54 0.24 0.36 0.27 0.36 + 0.07 0.72 0.12 0.14 0.12 0.14 + 0.01 0.44 0.09 0.11 0.09 0.11 + 0.01 0.34 0.10 unch 0.00 0.12 0.00 0.00 0.11 0.07 0.06 0.06 - 0.01 0.12 0.05 0.07 0.03 0.07 + 0.04 0.08 0.03 0.07 unch 0.00 0.15 0.11 0.11 0.11 0.12 0.17 0.14 0.14 - 0.02 0.32 0.17 0.23 0.20 0.20 - 0.02 0.42

Dajin Res V 258 Dajin Res* O 329 Dakota Ter Res* O 121 Damara Gold V 29 Danakali* O 14 Debut Dmds 58 Decade Res V 169 Decade Res* O 434 V 34 Deep-South Res O 8 Deep-South Res* DeepRock Min 51 V 124 Defense Metals O 1 Defense Metals* O 658 Defiance Silvr* Defiance Silvr V 831 Delrand Res V 216 30 Delrey Metals * O Delrey Metals 559 T 1510 Denison Mines X 2372 Denison Mines* Desert Gold* O 89 Desert Gold V 397 Desert Mtn Egy V 123 Detour Gold T 3773 O 190 Diamante Min* Diamcor Mng V 303 O 51 Diamcor Mng* O 1584 Diamond Disc* V 23 Diamond Fields O 1 Diamond Fields* Dios Expl V 440 V 180 Discovery Harb O 198 Discovery Met* V 1316 Discovery Met 259331 O Discovery Min* V 5 Discovery-Corp District Cop* O 30 District Cop V 3519 District Metal V 54 Ditem Explor* O 42 O 20 Diversified Rs* DNI Metals* O 20 O 18 Dolat Ventures* Dolly Vard Sil* O 320 Dolly Vard Sil V 285 V 57 Doubleview Cap DRDGOLD* N 1047 Dundee Prec Mt T 1997 O 16 Dunnedin Vent* Durango Res V 314 O 466 Durango Res* V 250 DV Resources Dynacor Gld Mn T 141 50 Dynacor Gld Mn* O O 1 Dynamic Gold* O 0 DynaResource* O 0 Dynasty Gold* Dynasty Gold V 216 E3 Metals* O 25 E3 Metals V 126 V 29 Eagle Graphite O 34 Eagle Graphite* Eagle Plains V 288 V 316 East Africa 18 East Africa * O 18 East Asia Mnls* O East Asia Mnls V 434 Eastern Platin T 102 O 10 Eastern Platin* Eastern Zinc 54 Eastfield Res V 67 O 256 Eastmain Res* Eastmain Res T 806 149 Eco Oro Mnls 18 Eco Oro Mnls* O O 6 Edgewater Expl* V 63 Edgewater Expl O 11 Edison Cobalt* V 19 Edison Cobalt El Capitan Prc* O 423 5 El Nino Vent* O 3 El Nino Vent V

0.04 0.05 0.04 0.04 - 0.01 0.11 0.03 0.04 0.03 0.03 - 0.01 0.09 0.12 0.08 0.11 + 0.01 0.19 0.02 0.03 0.05 0.00 0.05 + 0.02 0.05 0.44 0.46 0.44 0.45 - 0.00 0.63 0.01 0.01 0.00 0.01 - 0.01 0.02 0.02 0.04 0.03 0.03 - 0.01 0.08 0.02 0.03 0.02 0.02 - 0.01 0.05 0.06 0.15 0.11 0.12 - 0.01 0.16 0.06 unch 0.00 0.09 0.07 0.07 0.07 0.02 0.04 0.00 0.03 - 0.01 0.10 0.12 0.15 0.14 0.15 + 0.01 0.25 0.09 0.11 0.00 0.11 - 0.01 0.25 0.12 0.28 0.19 0.24 + 0.01 0.28 0.16 0.31 0.26 0.31 + 0.03 0.37 0.25 unch 0.00 0.71 0.55 0.47 0.55 0.06 0.03 0.03 - 0.02 0.30 0.03 0.05 0.07 0.05 0.06 - 0.02 0.50 0.52 unch 0.00 0.89 0.62 0.55 0.56 0.38 0.47 0.41 0.41 - 0.02 0.69 0.12 0.31 0.14 0.17 + 0.04 0.31 0.14 0.24 0.17 0.23 + 0.06 0.26 0.29 0.20 0.23 + 0.02 0.29 0.13 24.60 22.44 24.47 + 1.03 25.11 9.38 0.01 0.03 0.03 0.03 - 0.00 0.20 0.08 unch 0.00 0.50 0.10 0.08 0.09 0.06 0.07 0.06 0.07 + 0.00 0.28 0.00 0.00 0.00 0.00 + 0.00 0.00 0.07 0.17 0.16 0.16 - 0.01 0.20 0.00 unch 0.00 0.13 0.11 0.00 0.11 0.04 unch 0.00 0.08 0.05 0.05 0.05 0.01 0.05 0.04 0.05 + 0.01 0.07 0.14 0.01 0.37 0.37 0.32 0.35 - 0.17 0.49 0.43 0.46 - 0.02 0.50 0.00 0.00 0.00 0.00 - 0.00 0.00 0.01 unch 0.00 0.02 0.01 0.01 0.01 0.01 0.01 0.01 0.01 - 0.00 0.06 0.01 0.02 0.01 0.02 + 0.01 0.09 0.15 0.18 0.00 0.18 - 0.02 0.39 0.00 0.00 0.00 0.00 + 0.00 0.00 0.01 unch 0.00 0.05 0.01 0.01 0.01 0.02 0.05 0.00 0.05 + 0.00 0.09 0.10 0.21 0.00 0.20 + 0.01 1.80 0.26 0.21 0.26 + 0.02 0.40 0.14 0.34 0.29 0.34 + 0.03 0.55 0.19 0.08 0.09 0.09 0.09 - 0.01 0.18 1.64 4.50 3.84 4.47 + 0.26 4.50 5.75 5.03 5.67 + 0.52 5.52 2.56 0.05 unch 0.00 0.16 0.08 0.08 0.08 0.04 0.08 0.07 0.08 + 0.01 0.10 0.04 0.06 0.05 0.06 + 0.00 0.07 0.04 unch 0.00 0.16 0.07 0.07 0.07 1.84 1.79 1.82 + 0.01 1.90 1.41 1.39 1.34 1.36 + 0.01 1.59 1.02 1.00 unch 0.00 5.00 3.50 3.00 3.50 0.36 unch 0.00 1.25 0.00 0.00 0.90 0.05 unch 0.00 0.16 0.08 0.08 0.08 0.07 0.09 0.07 0.08 - 0.01 0.19 0.22 unch 0.00 0.41 0.33 0.33 0.33 0.23 0.44 0.42 0.42 + 0.01 0.58 0.03 unch 0.00 0.21 0.06 0.00 0.06 0.04 unch 0.00 0.13 0.06 0.06 0.06 0.08 0.12 0.10 0.10 - 0.02 0.12 0.21 0.17 0.18 - 0.04 0.29 0.15 0.17 0.17 0.17 unch 0.00 0.19 0.11 0.08 0.07 0.08 unch 0.00 0.09 0.03 0.10 0.08 0.10 + 0.02 0.13 0.04 0.17 0.29 0.25 0.26 + 0.01 0.30 0.12 0.23 0.18 0.23 + 0.05 0.23 0.07 0.10 0.09 0.10 - 0.01 0.56 0.03 unch 0.00 0.07 0.05 0.05 0.05 0.07 0.14 0.12 0.13 + 0.00 0.20 0.10 0.19 0.17 0.18 + 0.02 0.27 0.11 0.06 0.07 - 0.04 0.27 0.06 0.09 0.09 0.09 unch 0.00 0.77 0.00 0.06 unch 0.00 0.12 0.08 0.08 0.08 0.06 unch 0.00 0.16 0.12 0.11 0.12 0.03 0.05 0.00 0.04 + 0.01 0.12 0.04 unch 0.00 0.16 0.05 0.00 0.05 0.02 0.02 0.02 + 0.00 0.04 0.00 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.02 0.02 0.02 - 0.01 0.05 0.02

D-F

2019-08-26 1:16 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / SEPTEMBER 2â&#x20AC;&#x201C;15, 2019

Week

12-month

Exc Volume High Low Last Change High Low

Elcora Adv Mat V 180 0.09 0.00 0.07 - 0.02 0.22 0.06 Elcora Res* O 56 0.06 0.04 0.04 - 0.00 0.16 0.04 Eldorado Gold* N 14681 9.35 8.25 9.17 + 0.55 9.35 2.52 Eldorado Gold T 6479 12.42 10.94 12.19 + 0.73 11.89 3.36 Eloro Res* O 10 0.23 0.23 0.23 unch 0.00 0.35 0.13 0.15 Eloro Res V 30 0.32 0.25 0.27 - 0.05 0.51 Ely Gold Royal V 771 0.35 0.30 0.35 + 0.01 0.47 0.09 Ely Gold Royal* O 1111 0.27 0.22 0.27 + 0.02 0.35 0.07 27 0.28 0.25 0.27 + 0.00 0.33 0.23 Elysee Dev * O Elysee Dev V 34 0.35 0.00 0.35 - 0.01 0.42 0.31 0.07 Emerita Res V 70 0.08 0.07 0.07 - 0.01 0.28 Emgold Mining* O 5 0.06 0.06 0.06 unch 0.00 0.14 0.03 Emgold Mining V 294 0.09 0.07 0.09 + 0.02 0.20 0.05 unch 0.00 0.13 0.03 Empress Res V 500 0.04 0.04 0.04 EMX Royalty V 119 1.85 1.72 1.82 + 0.01 2.00 1.39 EMX Royalty* X 486 1.40 1.31 1.35 - 0.05 1.54 1.04 O 20 0.09 0.08 0.09 + 0.01 0.22 0.07 Encanto Potash* Encanto Potash V 49 0.13 0.11 0.12 + 0.01 0.30 0.09 EnCore Energy V 456 0.12 0.09 0.10 unch 0.00 0.21 0.09 Endeavour Mng T 1312 27.12 25.56 26.76 + 0.30 28.27 16.34 Endeavour Mng* O 33 20.27 19.29 20.27 + 0.42 21.25 12.38 N 12739 2.59 2.28 2.55 + 0.14 2.86 1.68 Endeavr Silver* Endeavr Silver T 2087 3.44 3.03 3.42 + 0.22 3.84 2.21 Endurance Gold* O 50 0.02 0.02 0.02 unch 0.00 0.05 0.02 V 785 0.03 0.03 0.03 unch 0.00 0.07 0.03 Endurance Gold Energy Fuels* X 3999 1.80 1.59 1.65 + 0.07 4.09 1.50 Energy Fuels T 784 2.39 2.12 2.20 + 0.11 5.38 2.00 Enforcer Gold* O 6 0.00 0.00 0.09 unch 0.00 0.09 0.02 Enforcer Gold V 351 0.14 0.10 0.11 + 0.01 0.54 0.09 V 184 0.12 0.11 0.12 + 0.01 0.13 0.05 Engineer Gold Engold Mines V 141 0.09 0.00 0.09 + 0.02 0.20 0.07 Engold Mines* O 22 0.07 0.05 0.06 - 0.00 0.11 0.05 Ensurge* O 280 0.04 0.03 0.04 unch 0.00 0.07 0.02 Entree Res* X 614 0.26 0.23 0.25 + 0.02 0.46 0.22 0.29 Entree Res T 225 0.34 0.31 0.34 + 0.03 0.61 Equinox Gold V 1837 8.77 1.41 8.70 + 1.30 8.77 4.25 Equitorial Ex V 516 0.06 0.05 0.05 unch 0.00 0.06 0.02 Erdene Res Dev T 457 0.25 0.22 0.23 unch 0.00 0.44 0.16 Erdene Res Dev* O 597 0.19 0.16 0.17 - 0.01 0.33 0.12 0.04 Erin Ventures V 188 0.05 0.04 0.04 - 0.01 0.22 Ero Copper T 624 20.77 19.34 19.46 - 1.05 25.69 8.17 Ero Copper* O 2 15.30 0.00 14.87 - 1.17 19.20 6.49 Eros Res Corp* O 0 0.00 0.00 0.06 unch 0.00 0.09 0.05 0.08 0.07 0.07 - 0.01 0.11 0.07 Eros Res Corp V 480 0.08 0.07 0.07 - 0.01 0.11 0.07 Eros Res Corp V 480 Eskay Mng V 260 0.09 0.07 0.07 - 0.01 0.34 0.07 Essex Minerals V 180 0.05 0.05 0.05 + 0.01 0.12 0.03 Ethos Gold* O 198 0.23 0.18 0.18 - 0.05 0.25 0.09 Ethos Gold V 732 0.30 0.23 0.24 - 0.07 0.34 0.12 0.24 Etruscus Res 71 0.40 0.34 0.35 - 0.04 0.50 Euro Manganese V 336 0.17 0.16 0.17 unch 0.00 0.44 0.15 Euro Sun Mg T 7200 0.34 0.31 0.33 + 0.01 1.25 0.23 Euro Sun Mg* O 503 0.28 0.22 0.24 + 0.00 1.00 0.17 O 17 0.03 0.03 0.03 unch 0.00 0.14 0.01 EurOmax Res* 0.02 EurOmax Res T 64 0.06 0.04 0.04 - 0.03 0.21 European Elect* O 104 0.02 0.02 0.02 - 0.00 0.27 0.02 European Elect V 188 0.03 0.03 0.03 unch 0.00 0.35 0.03 European Metal* O 469 0.00 0.00 0.00 unch 0.00 0.00 0.00 V 590 0.01 0.01 0.01 - 0.01 0.10 0.01 Eurotin 0.01 Everton Res* O 11 0.02 0.02 0.02 - 0.00 0.03 EVI Global Grp 1303 0.89 0.73 0.74 - 0.05 1.64 0.25 Evolving Gold* O 34 0.00 0.00 0.00 unch 0.00 0.06 0.00 Evrim Res V 122 0.36 0.34 0.35 unch 0.00 1.63 0.27 0.44 Excellon Res* O 325 0.80 0.65 0.77 + 0.02 1.15 0.59 Excellon Res T 1084 1.06 0.86 1.00 + 0.04 1.51 Excelsior Mng* O 204 0.72 0.68 0.70 - 0.00 0.90 0.53 Excelsior Mng T 191 0.95 0.91 0.91 - 0.01 1.15 0.71 0.02 0.01 0.01 - 0.01 0.03 0.01 ExGen Res Inc V 300 Explor Res* O 287 0.03 0.00 0.02 + 0.00 0.03 0.01 0.02 Explor Res V 2367 0.04 0.03 0.04 + 0.01 0.04 Explorex Res 156 0.25 0.20 0.20 - 0.05 0.45 0.15 Explorex Res* O 1 0.19 0.19 0.19 unch 0.00 0.26 0.13 O 2 0.00 0.00 0.00 unch 0.00 0.00 0.00 Fairmile Gold* Falco Res V 3870 0.27 0.21 0.22 - 0.05 0.54 0.21 0.20 0.16 0.17 - 0.04 0.40 0.10 Falco Res * O 363 Falcon Gold V 530 0.04 0.03 0.04 + 0.01 0.06 0.02 Fancamp Expl V 134 0.07 0.07 0.07 unch 0.00 0.11 0.04 unch 0.00 0.20 0.05 Far Res 341 0.05 0.00 0.05 Far Res* O 84 0.04 0.03 0.04 - 0.00 0.88 0.03 unch 0.00 0.06 0.03 Fidelity Min* O 0 0.00 0.00 0.04 Fidelity Min V 649 0.04 0.03 0.03 - 0.01 0.10 0.03 Filo Mg Corp V 50 2.74 2.72 2.72 - 0.02 3.25 2.00 1 2.06 0.00 2.06 + 0.00 2.31 1.55 Filo Mg Corp * O Finlay Minrls V 2450 0.05 0.04 0.04 unch 0.00 0.06 0.02 0.16 Fiore Gold* O 557 0.42 0.35 0.41 + 0.05 0.50 Fiore Gold V 522 0.55 0.47 0.55 + 0.07 0.60 0.21 Fire River Gol* O 1 0.05 0.00 0.05 - 0.21 2.41 0.00 0.02 Firebird Res V 212 0.03 0.02 0.02 - 0.01 0.04 FireFox Gold V 215 0.18 0.15 0.18 + 0.05 0.39 0.09 V 26 0.05 0.00 0.05 unch 0.00 0.10 0.04 Firestone Vent Fireweed Zinc V 238 0.55 0.51 0.51 - 0.03 1.22 0.51 O 6 0.40 0.00 0.40 + 0.01 0.94 0.39 Fireweed Zinc* Firma Holdings* O 97 0.01 0.01 0.01 + 0.01 0.05 0.01 First Cobalt * O 768 0.11 0.09 0.10 - 0.01 0.38 0.09 0.13 First Cobalt V 1673 0.14 0.13 0.13 - 0.01 0.50 First Colombia* O 2984 0.00 0.00 0.00 unch 0.00 0.00 0.00 unch 0.00 0.20 0.07 First Energy 35 0.08 0.08 0.08 First Energy* O 1 0.06 0.06 0.06 unch 0.00 0.18 0.06 First Idaho* O 8 0.06 0.06 0.06 unch 0.00 0.06 0.06 11.06 9.47 11.01 + 1.11 11.11 4.59 First Majestic* N 19097 First Majestic T 3474 14.73 12.56 14.62 + 1.49 14.70 6.12 0.29 0.25 0.28 unch 0.00 0.41 0.21 First Mg Fin T 2861 First Mg Fin * O 3549 0.22 0.18 0.21 + 0.00 0.31 0.16 First Point* O 29 0.12 0.11 0.11 + 0.03 0.12 0.06 First Quantum T 9925 9.22 8.36 8.41 - 0.03 18.49 8.31 First Vanadium V 208 0.37 0.31 0.33 - 0.03 1.96 0.29 First Vanadium* O 312 0.28 0.23 0.26 - 0.02 1.60 0.21 Fission 3.0 V 1527 0.08 0.08 0.08 unch 0.00 0.30 0.08 Fission 3.0* O 133 0.06 0.00 0.06 - 0.01 0.22 0.05 Fission Uran* O 761 0.28 0.24 0.25 - 0.00 0.58 0.24 Fission Uran T 1300 0.36 0.32 0.33 unch 0.00 0.75 0.32 Fjordland Exp* O 65 0.05 0.04 0.04 - 0.01 0.15 0.03 Fjordland Exp V 150 0.06 0.05 0.06 + 0.01 0.20 0.04 Focus Graphite* O 193 0.02 0.02 0.02 unch 0.00 0.04 0.01 Focus Graphite V 228 0.03 0.02 0.03 - 0.01 0.06 0.02 Foran Mng V 115 0.29 0.25 0.25 - 0.02 0.43 0.23 Forsys Metals T 107 0.17 0.15 0.17 + 0.01 0.32 0.13 Fort St J Nick V 107 0.12 0.00 0.12 + 0.01 0.42 0.11 Fortescue Met* O 30 5.25 4.92 4.92 - 0.28 6.63 2.53 Fortuna Silvr T 3111 5.30 4.64 5.22 + 0.34 6.17 3.22 Fortuna Silvr* N 12029 3.99 3.49 3.92 + 0.25 4.74 2.39 Fortune Bay* O 1 0.26 0.00 0.26 - 0.04 0.31 0.10 Fortune Bay V 0 0.00 0.00 0.39 unch 0.00 0.41 0.19 Fortune Mnrls* O 318 0.07 0.06 0.06 - 0.00 0.11 0.05 Fortune Mnrls T 612 0.09 0.08 0.09 unch 0.00 0.16 0.07 Forum Energy V 925 0.07 0.05 0.07 + 0.02 0.08 0.03 Forum Energy* O 534 0.05 0.04 0.05 + 0.01 0.06 0.02 Four Nines 10 0.15 0.15 0.15 unch 0.00 0.31 0.10 Fox River Res 10 0.07 0.00 0.07 unch 0.00 0.10 0.06 Fox River Res* O 3 0.06 0.06 0.06 unch 0.00 0.06 0.04 FPX Nickel V 118 0.16 0.14 0.15 + 0.01 0.18 0.08 Franco-Nevada* N 2651 97.00 91.00 96.52 + 3.74 97.00 58.26 Franco-Nevada T 1947 129.02 120.74 128.29 + 5.19 127.92 76.53 Franklin Mng* O 0 0.00 0.00 0.00 unch 0.00 0.00 0.00 Freegold Vent T 304 0.09 0.06 0.09 + 0.01 0.13 0.05 Freeport McMoR* N 83428 9.42 8.80 8.83 - 0.27 14.96 8.78 Freeport Res V 1 0.00 0.00 0.09 unch 0.00 0.11 0.06 Fremont Gold V 715 0.07 0.06 0.06 - 0.01 0.19 0.06 Fremont Gold* O 80 0.05 0.05 0.05 unch 0.00 0.18 0.04 Fresnillo plc* O 81 8.57 7.77 8.55 + 0.52 13.76 7.01 Frontier Lith V 56 0.29 0.28 0.29 - 0.01 0.48 0.26 Frontline Gold V 9 0.01 0.00 0.01 unch 0.00 0.02 0.01 Full Metal Mnl* O 1 0.01 0.00 0.01 + 0.01 0.01 0.00 Fura Gems V 702 0.23 0.19 0.23 + 0.04 0.46 0.14 Fura Gems* O 29 0.18 0.14 0.16 + 0.00 0.34 0.11

G-H G2 Goldfields V 991 Gabriel Res* O 12 Gabriel Res V 117 Gainey Capital V 210 Galane Gold * O 528 Galane Gold V 2002 Galantas Gold V 178 Galantas Gold* O 3 Galore Res V 1746 Galway Gold * O 38 Galway Gold V 67 Galway Mtls* O 23 Galway Mtls V 563 GAR Limited 5407 Garibaldi Res V 817 Garibaldi Res * O 96 Gatling Explor V 689 Gatling Explor* O 39 General Moly T 5 General Moly* X 1864 Generation Min* O 50 Generation Min 203

0.28 0.23 0.26 unch 0.00 0.43 0.13 0.33 0.31 0.32 - 0.00 0.35 0.20 0.45 0.43 0.45 + 0.02 0.49 0.29 0.10 0.10 0.10 + 0.01 0.16 0.04 0.07 0.05 0.06 - 0.00 0.07 0.03 0.08 0.07 0.07 - 0.01 0.10 0.04 0.08 0.07 0.07 - 0.01 0.15 0.06 0.06 0.06 0.06 unch 0.00 0.10 0.04 0.03 0.03 0.03 unch 0.00 0.05 0.01 0.07 0.07 0.07 unch 0.00 0.12 0.00 0.10 0.09 0.10 unch 0.00 0.17 0.07 0.24 0.24 0.24 - 0.00 0.30 0.10 0.35 0.31 0.35 + 0.03 0.44 0.13 0.06 0.03 0.05 + 0.02 0.22 0.03 1.68 1.44 1.59 - 0.01 2.99 0.69 1.24 1.09 1.18 - 0.02 2.30 0.51 0.44 0.38 0.42 + 0.02 0.58 0.13 0.32 0.29 0.32 + 0.03 0.34 0.21 0.26 0.23 0.24 - 0.03 0.63 0.22 0.19 0.17 0.18 - 0.01 0.46 0.16 0.23 0.23 0.23 + 0.01 0.28 0.03 0.30 0.26 0.30 + 0.01 0.36 0.10

20-23_SEPT2_StockTables.indd 21

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Genesis Mtls* O 86 Genesis Mtls V 357 Genius Metals 106 V 837 Gensource Pot Geomega Res V 539 O 36 Geomega Res* Gespeg Res V 1858 9 Getchell Gold * O Getchell Gold 64 Getty Copper V 179 GFG Resources V 376 GFG Resources* O 232 GGL Res* O 0 GGL Res V 48 GGX Gold V 52 GGX Gold* O 19 Giga Metals V 733 Giga Metals* O 344 Gitennes Expl V 331 Giyani Gold V 1263 Giyani Gold* O 37 GK Resources V 25 Glacier Lake V 110 O 208 Gldn Predator* Gldn Predator V 598 Glen Eagle Res* O 380 Glen Eagle Res V 141 Glencore Plc * O 74 Glencore Plc* O 1312 Global Atomic* O 533 Global Atomic T 363 Global Battery V 45 Global Energy* O 70 Global Energy V 1008 Global Gold* O 3 Global Li-Ion 116 Global Li-Ion* O 9 GlobalMin Vent* O 5 Globex Mng* O 176 Globex Mng T 123 GMV Minerals V 414 O 199 GMV Minerals* GNCC Capital* O 42000 Go Cobalt 344 Go Cobalt* O 6 GobiMin V 8 Godâ&#x20AC;&#x2122;s Lake Res 0 GoGold Res T 780 Gold Fields* O 0 Gold Fields* N 43915 Gold Finder Ex V 5665 0 Gold Finder Ex* O Gold Reserve V 35 Gold Reserve* O 154 Gold Resource* X 3303 Gold Rush Cari V 737 Gold Rush Cari* O 3 Gold Std Vents T 664 Gold Std Vents* X 1455 Goldbank Mng V 0 Goldcliff Res* O 73 Goldcliff Res V 136 Golden Arrow* O 462 Golden Arrow V 653 Golden Band* O 1000 Golden Cariboo V 110 Golden Dawn Ml V 77 Golden Dawn Ml* O 3 Golden Goliath V 5107 Golden Goliath* O 104 Golden Harp V 17 Golden Hope V 253 Golden Hope* O 39 Golden Mnls T 41 Golden Mnls* X 1032 Golden Pursuit V 140 Golden Queen* O 31 V 102 Golden Queen Golden Ridge V 1683 Golden Secret V 80 Golden Share V 2 Golden Star T 635 Golden Star* X 4222 Golden Sun* O 527 Golden Tag V 194 Golden Valley* O 242 Golden Valley V 160 Goldex Res* O 4 Goldex Res V 34 Goldgroup Mng* O 97 Goldgroup Mng T 243 GoldMining T 1764 GoldMining* O 1110 GoldON Res V 137 GoldON Res* O 2 Goldplay Expl* O 170 Goldplay Expl V 325 V 86 GoldQuest Mng Goldrea Res 73 Goldrea Res* O 24 Goldrich Mng* O 165 O 814 Goldsource Min* Goldsource Min V 836 Goldstar Mnls V 25 Goldstrike Res V 767 Goliath Res V 10195 Goliath Res* O 416 Gossan Res V 68 GoviEx Uranium* O 846 GoviEx Uranium V 1034 Gowest Gold* O 121 Gowest Gold V 376 GPM Metals V 418 O 161 Gran Colombia* Gran Colombia T 1518 Granada Gold V 348 Granada Gold* O 50 Grande Portage V 174 Grande Portage* O 17 Granite Creek V 207 Graphite One V 206 Graphite One* O 140 Gratomic V 6843 Gray Rock Res V 5 Great Atlantic V 78 Great Bear Res V 952 Great Bear Res* O 243 Great Lakes Gr* O 822 Great Panther T 1212 X 5226 Great Panther* Great Thunder V 769 Greatbanks Re V 2 O 0 Greatbanks Res* Green River 90 Green Swan Cap V 373 Green Valley M V 50 Greencastle Rs V 185 O 2008 Greenland M&En* Greenshield Ex V 22 Grenville Gold 2 Grid Metals V 62 Grid Metals* O 250 Grizzly Discvr* O 250 Grizzly Discvr V 395 Grosvenor Res V 13 Group Eleven V 127 Group Ten Mtls* O 315 Group Ten Mtls V 1874 GrowMax Res* O 133 GrowMax Res V 1400 GSP Resource V 316 GT Gold V 1342 GT Gold * O 19 Guerrero Vents V 32 Gungnir Res V 78 Gungnir Res* O 240 Gunpoint Expl V 16 Guyana Gldflds T 2315 Guyana Goldstr V 191 Guyana Goldstr* O 104 Handa Mining V 4 Handeni Gold* O 0 Hannan Metals V 4212 Hannan Metals* O 0 Happy Ck Mnrls V 210 Harfang Explor V 108 Harmony Gold* N 58940 Harte Gold* O 466 Harte Gold T 1514 Harvest Gold* O 50

0.05 0.04 0.05 - 0.00 0.08 0.04 0.07 0.06 0.07 unch 0.00 0.12 0.06 0.20 0.17 0.17 - 0.01 0.25 0.12 0.11 0.10 0.11 + 0.01 0.15 0.08 0.17 0.13 0.16 + 0.04 0.23 0.07 0.13 0.11 0.11 + 0.00 0.17 0.05 0.02 0.01 0.02 unch 0.00 0.05 0.01 0.07 0.05 0.05 - 0.02 0.19 0.05 0.09 0.08 0.08 - 0.01 3.60 0.08 0.04 0.03 0.03 - 0.01 0.07 0.02 0.21 0.18 0.21 unch 0.00 0.35 0.17 0.15 0.13 0.14 - 0.01 0.25 0.13 0.00 0.00 0.05 unch 0.00 0.08 0.05 0.10 0.08 0.08 - 0.01 0.11 0.07 0.27 0.00 0.23 - 0.04 0.41 0.15 0.19 0.18 0.19 - 0.01 0.29 0.04 0.27 0.22 0.26 - 0.02 0.29 0.15 0.22 0.00 0.20 - 0.01 0.22 0.11 0.04 0.03 0.04 + 0.01 0.09 0.02 0.29 0.22 0.26 - 0.03 0.40 0.07 0.22 0.18 0.19 - 0.02 0.31 0.06 0.24 0.24 0.24 unch 0.00 0.30 0.15 0.07 0.07 0.07 unch 0.00 0.35 0.07 0.28 0.22 0.27 + 0.03 0.38 0.13 0.37 0.30 0.35 + 0.05 0.50 0.18 0.07 0.07 0.07 unch 0.00 0.13 0.06 0.11 0.09 0.11 - 0.01 0.18 0.08 2.86 2.75 2.78 + 0.08 4.51 2.66 5.66 5.43 5.43 unch 0.00 8.97 5.29 0.34 0.33 0.34 + 0.00 0.42 0.21 0.52 0.44 0.50 + 0.05 0.56 0.28 0.13 0.00 0.13 + 0.04 0.23 0.07 0.03 0.02 0.03 - 0.00 0.08 0.02 0.04 0.03 0.03 - 0.01 0.10 0.03 1.50 1.50 1.50 unch 0.00 2.00 1.25 0.15 0.00 0.12 - 0.03 0.28 0.06 0.09 0.08 0.09 + 0.00 0.21 0.04 0.35 0.35 0.35 unch 0.00 1.89 0.31 0.27 0.25 0.26 - 0.00 0.31 0.19 0.35 0.33 0.35 unch 0.00 0.41 0.25 0.15 0.13 0.14 - 0.02 0.24 0.07 0.12 0.10 0.10 - 0.01 0.19 0.07 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.10 0.06 0.07 - 0.03 0.38 0.06 0.06 0.06 0.06 unch 0.00 0.26 0.02 0.36 0.28 0.34 - 0.01 0.45 0.20 0.00 0.00 5.50 unch 0.00 5.75 1.51 0.56 0.47 0.55 + 0.04 0.56 0.19 0.00 0.00 3.83 unch 0.00 4.10 2.40 6.11 5.11 6.10 + 0.71 6.29 2.20 0.09 0.05 0.05 unch 0.00 0.29 0.04 0.00 0.00 0.03 unch 0.00 0.22 0.03 2.47 2.33 2.40 + 0.06 3.67 2.27 1.85 1.70 1.80 - 0.01 2.80 1.40 3.31 3.05 3.30 + 0.15 6.42 2.73 0.02 0.01 0.02 unch 0.00 0.17 0.01 0.02 0.02 0.02 unch 0.00 0.11 0.02 1.34 1.16 1.32 + 0.10 2.40 1.08 1.02 0.87 1.01 + 0.10 1.86 0.81 0.00 0.00 0.11 unch 0.00 0.17 0.07 0.08 0.08 0.08 - 0.00 0.10 0.03 0.11 0.11 0.11 + 0.01 0.15 0.05 0.12 0.11 0.12 + 0.00 0.39 0.11 0.16 0.15 0.15 - 0.01 0.50 0.15 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.05 0.05 0.05 unch 0.00 0.07 0.03 0.27 0.00 0.27 + 0.03 0.68 0.10 0.19 0.16 0.19 + 0.02 0.20 0.02 0.07 0.04 0.06 + 0.02 0.07 0.02 0.05 0.02 0.05 + 0.02 0.05 0.00 0.17 0.11 0.11 - 0.06 0.17 0.07 0.21 0.17 0.19 + 0.02 0.23 0.05 0.16 0.13 0.16 + 0.02 0.16 0.03 0.35 0.32 0.35 + 0.01 0.49 0.26 0.27 0.24 0.27 + 0.02 0.38 0.19 0.07 0.06 0.07 unch 0.00 0.13 0.02 0.20 0.15 0.15 - 0.01 0.25 0.01 0.26 0.23 0.26 + 0.04 1.85 0.20 0.10 0.09 0.09 - 0.01 0.54 0.08 1.25 1.15 1.15 - 0.09 3.10 1.10 0.11 0.00 0.11 unch 0.00 0.18 0.07 4.00 3.36 3.87 + 0.11 6.48 3.24 3.01 2.51 2.89 + 0.08 4.97 2.43 0.00 0.00 0.00 - 0.00 0.01 0.00 0.03 0.03 0.03 unch 0.00 0.07 0.03 0.28 0.26 0.28 + 0.03 0.30 0.17 0.38 0.34 0.38 + 0.04 0.39 0.23 0.08 0.00 0.07 - 0.00 0.36 0.07 0.11 0.10 0.10 - 0.01 0.53 0.08 0.04 0.03 0.03 - 0.00 0.06 0.02 0.05 0.04 0.05 unch 0.00 0.08 0.04 1.29 1.14 1.27 + 0.12 1.28 0.71 0.97 0.86 0.97 + 0.09 0.97 0.52 0.65 0.60 0.62 - 0.07 0.91 0.12 0.51 0.49 0.49 - 0.03 0.69 0.09 0.16 0.14 0.16 + 0.01 0.22 0.09 0.22 0.18 0.22 + 0.02 0.30 0.11 0.18 0.16 0.18 + 0.02 0.23 0.08 0.07 0.07 0.07 unch 0.00 0.12 0.04 0.05 0.05 0.05 unch 0.00 0.07 0.03 0.02 0.02 0.02 + 0.00 0.03 0.01 0.10 0.08 0.10 + 0.00 0.16 0.02 0.13 0.12 0.13 + 0.01 0.23 0.04 0.05 0.05 0.05 unch 0.00 0.12 0.03 0.04 0.03 0.03 - 0.01 0.20 0.03 0.15 0.08 0.12 + 0.02 0.25 0.06 0.11 0.07 0.09 + 0.01 0.19 0.04 0.08 0.06 0.08 + 0.02 0.10 0.05 0.12 0.10 0.10 - 0.01 0.20 0.09 0.15 0.14 0.14 - 0.01 0.25 0.12 0.19 0.14 0.19 + 0.08 0.31 0.01 0.26 0.19 0.25 + 0.12 0.60 0.08 0.08 0.07 0.08 + 0.01 0.10 0.06 4.28 3.93 4.16 - 0.01 4.40 1.59 5.72 5.20 5.56 + 0.02 5.80 2.08 0.12 0.10 0.11 unch 0.00 0.23 0.09 0.09 0.09 0.09 + 0.01 0.17 0.07 0.15 0.13 0.13 unch 0.00 0.34 0.08 0.12 0.10 0.10 - 0.00 0.25 0.06 0.07 0.06 0.06 - 0.01 0.23 0.05 0.15 0.13 0.14 - 0.02 0.60 0.12 0.12 0.10 0.10 - 0.01 1.00 0.00 0.04 0.02 0.03 - 0.01 0.17 0.02 0.07 0.07 0.07 unch 0.00 0.15 0.05 0.46 0.00 0.41 - 0.05 1.50 0.30 6.87 4.91 6.52 + 1.45 6.87 1.57 5.10 3.75 4.86 + 1.03 4.83 0.85 0.00 0.00 0.00 + 0.00 0.10 0.00 1.10 0.95 1.05 + 0.03 1.58 0.70 0.82 0.72 0.79 + 0.02 1.19 0.54 0.03 0.03 0.03 + 0.01 0.03 0.01 0.08 0.00 0.08 unch 0.00 0.20 0.04 0.00 0.00 0.01 unch 0.00 0.01 0.01 0.08 0.06 0.06 + 0.01 0.08 0.04 0.03 0.02 0.02 unch 0.00 0.07 0.02 0.11 0.11 0.11 unch 0.00 2.00 0.06 0.07 0.00 0.07 + 0.01 0.09 0.02 0.11 0.08 0.10 + 0.02 0.12 0.04 0.15 0.15 0.15 + 0.02 0.15 0.05 0.17 0.17 0.17 unch 0.00 0.70 0.12 0.11 0.00 0.11 + 0.01 0.15 0.05 0.08 0.08 0.08 unch 0.00 0.11 0.04 0.04 0.04 0.04 unch 0.00 0.11 0.03 0.05 0.04 0.04 unch 0.00 0.15 0.04 0.11 0.11 0.11 unch 0.00 0.14 0.08 0.05 0.05 0.05 + 0.01 0.20 0.04 0.11 0.10 0.11 + 0.00 0.17 0.01 0.14 0.13 0.14 unch 0.00 0.23 0.12 0.07 0.06 0.06 - 0.01 0.11 0.05 0.09 0.08 0.09 unch 0.00 0.13 0.07 0.16 0.13 0.15 - 0.01 0.26 0.13 1.20 1.07 1.18 + 0.07 2.15 0.49 0.90 0.80 0.88 + 0.05 1.62 0.37 0.15 0.11 0.15 + 0.04 0.17 0.06 0.10 0.09 0.10 unch 0.00 0.39 0.06 0.07 0.07 0.07 + 0.00 0.29 0.04 0.60 0.55 0.55 - 0.04 0.68 0.35 1.20 1.07 1.18 + 0.06 3.85 0.80 0.14 0.12 0.12 - 0.01 0.31 0.12 0.11 0.09 0.10 - 0.00 0.23 0.09 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.00 0.00 0.02 unch 0.00 0.05 0.02 0.07 0.05 0.07 + 0.01 0.21 0.05 0.00 0.00 0.05 unch 0.00 0.16 0.04 0.13 0.00 0.13 unch 0.00 0.20 0.11 0.27 0.27 0.27 unch 0.00 0.32 0.18 3.63 2.84 3.58 + 0.61 3.63 1.47 0.22 0.19 0.20 - 0.01 0.38 0.15 0.28 0.27 0.28 + 0.01 0.55 0.21 0.02 0.01 0.02 - 0.01 0.08 0.00

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Harvest Gold V 791 Hawkeye Gld&Di V 2450 Heatherdale Rs V 8 38471 Hecla Mining* N Helio Res* O 98 O 16 Hemcare Health* Highbank Res V 1010 Highland Copp V 12 O 13 Highland Copp* Highway 50 Gld V 150 Highway 50 Gld* O 331 HiHo Silver 110 Hinterland Mtl* O 0 O 37 Hochschild Mg* Homeland Egy* O 237 Honey Badger E* O 5 Honey Badger E V 292 Horizonte Mnls T 273 Hornby Bay Mnl* O 6 HudBay Min T 3998 HudBay Min* N 3049 Hudson Res* O 75 Hudson Res V 173 Hunt Mng* O 15 Hunt Mng V 1031 Hut 8 Mining V 230 Hut 8 Mining* O 76 Hybrid Mineral V 10

0.02 0.02 0.02 - 0.01 0.10 0.01 0.04 0.03 0.04 - 0.01 0.11 0.03 0.03 0.00 0.03 - 0.01 0.04 0.02 1.69 1.44 1.67 + 0.22 3.12 1.21 0.02 0.02 0.02 unch 0.00 0.08 0.02 1.16 1.00 1.05 + 0.05 1.54 0.05 0.02 0.02 0.02 - 0.01 0.04 0.01 0.04 0.00 0.04 unch 0.00 0.14 0.03 0.03 0.03 0.03 - 0.01 0.12 0.02 0.15 0.13 0.14 - 0.02 0.48 0.13 0.10 0.09 0.10 + 0.00 0.37 0.09 0.04 0.04 0.04 unch 0.00 0.08 0.02 0.00 0.00 0.00 unch 0.00 0.14 0.00 2.56 2.43 2.56 - 0.06 2.78 1.90 1.03 0.88 0.88 - 0.13 3.21 0.80 0.02 0.02 0.02 unch 0.00 0.07 0.01 0.03 0.02 0.03 unch 0.00 0.10 0.02 0.06 0.04 0.06 + 0.01 0.07 0.03 0.01 0.01 0.01 unch 0.00 0.03 0.01 4.40 4.02 4.05 - 0.29 10.42 4.12 3.32 3.01 3.06 - 0.21 7.83 3.01 0.31 0.28 0.29 - 0.01 0.39 0.25 0.42 0.38 0.39 + 0.01 0.53 0.32 0.05 0.05 0.05 unch 0.00 0.20 0.00 0.07 0.05 0.05 - 0.00 0.32 0.05 2.64 2.26 2.38 - 0.10 3.75 0.76 2.00 1.72 1.80 - 0.09 2.85 0.60 0.04 0.04 0.04 unch 0.00 0.23 0.04

I-Minerals* O 32 I-Minerals V 76 IAMGOLD T 7175 19973 IAMGOLD* N Icon Explor* O 0 Iconic Mnls * O 28 Iconic Mnls V 297 Idaho Champion 42 IEMR Res V 2324 IM Exploration 28 iMetal Res* O 0 iMetal Res V 1856 IMPACT Silver V 598 O 0 Impala Platnm* Imperial Metal T 92 Imperial Metal* O 6 Imperial Mg Gr V 148 Inca One Gold* O 25 Inca One Gold V 585 Inception Mng * O 335 Independence G* O 9 V 126 Independence G Indico Res V 368 Indigo Expl V 89 Infinite Lith* O 21 Infinite Lith V 71 Inform Res V 60 Infrastructure* O 162 Inomin Mines V 15 Integra Res* O 221 Integra Res V 211 Inter-Rock Mnl V 22 Inter-Rock Mnl* O 2 Intercontinent V 50 Intercontinent* O 16 Intgr Egy Sol* O 5093 Intl Battery* O 279 Intl Battery 816 Intl Bethl Mng V 500 Intl Cobalt* O 41 Intl Cobalt 2228 Intl Lithium* O 192 Intl Lithium V 393 Intl Montoro* O 65 Intl Montoro V 265 10 Intl Prospect * O Intl Prospect V 154 Intl Samuel Ex V 165 28750 Intl Star* O Intl Tower Hil* X 734 Intl Tower Hil T 256 Intl Zeolite V 238 Intl Zeolite* O 235 Intrepid Pots* N 1987 INV Metals* O 12 INV Metals T 51 Inventus Mg * O 140 Inventus Mg V 233 InZinc Mining V 203 O 20 InZinc Mining* Ireland* O 167 Irving Res* O 184 Irving Res 347 IsoEnergy Ltd V 138 O 30 Itafos* Itafos V 47 Itoco Inc* O 1661 Ivanhoe Mines* O 336 T 3620 Ivanhoe Mines Jade Leader* O 217 Jade Leader V 195 Jaeger Res * O 10 Jaeger Res V 14 Jaguar Mng T 987 Jaguar Mng* O 339 Japan Gold V 859 Japan Gold* O 69 Jaxon Mining* O 18 Jaxon Mining V 107 Jayden Res* O 1 Jayden Res V 91 Jazz Res V 5 Jervois Mining V 4582 Jervois Mining* O 1828 Jiulian Res V 820 Josemaria Res* O 6 Josemaria Res T 115 Joshua Gold* O 10 Jourdan Res V 320 O 50 Jubilee Metals* Juggernaut Exp V 498 Juggernaut Exp* O 309 Jupiter Gold* O 1 K2 Gold V 238 K92 Mining* O 3961 K92 Mining V 10210 Kaizen Discov V 906 Kaizen Discvry* O 64 Kapuskasing Gd V 305 Karam Min 3 Karmin Expl V 48 Karnalyte Res T 85 KAT Expl* O 3030 Katanga Mng T 463 Kenadyr Mining V 20 Kenadyr Mining* O 44 Kermode Res V 2689 Kerr Mines* O 392 Kerr Mines T 1150 Kesselrun Res V 245 Kesselrun Res* O 82 Kestrel Gold V 19 Kilo Goldmines V 124 Kilo Goldmines* O 115 Kincora Copper* O 40 Kincora Copper V 193 Kingsmen Res V 153 Kingsmen Res* O 1 Kinross Gold T 19321 Kinross Gold* N 65664 Kintavar Exp V 360 Kirkland Lake* N 6051 Kirkland Lake T 3288 Klondike Gold* O 236 Klondike Gold V 637 Klondike Silv* O 168 Klondike Silv V 343 Kombat Copper V 294 Komet Resource V 146 Kootenay Silvr* O 515 Kootenay Silvr V 2462 Kootenay Zinc 100 Kootenay Zinc* O 4 KOPR Point 466 Kore Mining V 566 Kore Mining * O 97 Kutcho Copper * O 168 KWG Res* O 31 KWG Res 472

0.04 0.03 0.04 - 0.00 0.17 0.03 0.07 0.05 0.07 + 0.02 0.20 0.04 4.87 4.23 4.86 + 0.48 5.60 3.08 3.66 3.19 3.66 + 0.35 4.32 2.28 0.00 0.00 0.11 unch 0.00 0.21 0.07 0.07 0.05 0.05 - 0.02 0.14 0.05 0.09 0.08 0.08 - 0.02 0.19 0.08 0.08 0.00 0.08 unch 0.00 0.40 0.07 0.02 0.01 0.02 + 0.01 0.03 0.01 0.15 0.09 0.09 - 0.06 0.15 0.09 0.03 0.03 0.03 unch 0.00 0.14 0.03 0.06 0.05 0.06 - 0.01 0.19 0.04 0.48 0.39 0.46 + 0.04 0.51 0.20 0.00 0.00 4.85 unch 0.00 5.12 1.15 2.91 2.50 2.50 - 0.40 3.50 0.99 2.03 0.00 1.92 - 0.18 2.60 0.76 0.06 0.06 0.06 unch 0.00 0.11 0.05 0.03 0.02 0.03 + 0.00 0.05 0.02 0.04 0.04 0.04 unch 0.00 0.05 0.03 0.09 0.00 0.08 - 0.02 0.55 0.00 0.04 0.00 0.04 + 0.04 0.08 0.00 0.08 0.07 0.08 - 0.01 0.10 0.04 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.04 0.04 0.04 - 0.01 0.14 0.04 0.06 0.00 0.06 unch 0.00 0.18 0.05 0.04 0.04 0.04 unch 0.00 0.10 0.03 0.00 0.00 0.00 - 0.00 0.00 0.00 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.83 0.72 0.81 + 0.10 0.86 0.44 1.10 0.94 1.05 + 0.06 1.15 0.61 0.29 0.27 0.29 + 0.02 0.35 0.19 0.18 0.18 0.18 unch 0.00 0.20 0.16 0.26 0.23 0.26 unch 0.00 0.50 0.09 0.20 0.20 0.20 unch 0.00 0.30 0.07 0.00 0.00 0.00 - 0.00 0.00 0.00 0.12 0.09 0.10 - 0.01 0.19 0.03 0.15 0.13 0.14 - 0.01 0.24 0.05 0.05 0.05 0.05 unch 0.00 0.10 0.02 0.01 0.01 0.01 - 0.00 0.08 0.00 0.02 0.01 0.02 unch 0.00 0.10 0.01 0.03 0.02 0.02 - 0.00 0.08 0.02 0.04 0.03 0.03 - 0.01 0.10 0.03 0.03 0.03 0.03 - 0.00 0.06 0.02 0.04 0.04 0.04 unch 0.00 0.09 0.04 0.09 0.09 0.09 unch 0.00 0.16 0.08 0.12 0.00 0.12 unch 0.00 0.21 0.11 0.02 0.00 0.02 unch 0.00 0.13 0.02 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.69 0.57 0.61 - 0.01 0.72 0.35 0.90 0.75 0.79 - 0.04 0.94 0.48 0.08 0.00 0.07 - 0.01 0.20 0.05 0.06 0.04 0.05 - 0.01 0.12 0.01 3.19 2.85 2.88 - 0.25 4.41 2.51 0.30 0.27 0.27 - 0.03 0.59 0.23 0.42 0.36 0.36 - 0.01 0.83 0.32 0.09 0.09 0.09 unch 0.00 0.14 0.07 0.12 0.11 0.12 - 0.01 0.20 0.10 0.04 0.04 0.04 unch 0.00 0.10 0.03 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.14 0.11 0.14 - 0.01 0.20 0.03 2.21 1.78 2.16 + 0.30 2.50 0.70 2.94 2.32 2.88 + 0.41 3.25 0.91 0.59 0.55 0.56 - 0.01 0.79 0.29 1.02 0.84 1.02 + 0.20 1.67 0.39 1.40 1.12 1.35 + 0.26 2.31 0.53 0.49 0.10 0.22 - 0.22 0.53 0.02 2.89 2.61 2.62 - 0.13 3.46 1.50 3.83 3.48 3.48 - 0.19 4.54 2.04 0.24 0.21 0.24 + 0.01 0.29 0.13 0.31 0.26 0.31 + 0.01 0.37 0.13 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.02 0.02 0.02 unch 0.00 0.04 0.02 0.25 0.20 0.25 + 0.03 0.30 0.07 0.19 0.15 0.18 + 0.01 0.22 0.05 0.34 0.30 0.33 - 0.01 0.38 0.07 0.25 0.23 0.25 - 0.01 0.29 0.06 0.04 0.04 0.04 - 0.00 0.10 0.04 0.05 0.04 0.05 unch 0.00 0.14 0.04 0.01 0.00 0.01 + 0.00 0.12 0.00 0.02 0.02 0.02 unch 0.00 0.20 0.01 0.06 0.06 0.06 unch 0.00 0.06 0.03 0.20 0.18 0.19 + 0.02 0.21 0.13 0.17 0.13 0.15 + 0.02 0.18 0.12 0.03 0.00 0.03 - 0.01 0.18 0.01 0.63 0.00 0.62 + 0.01 0.91 0.60 0.86 0.80 0.83 + 0.01 1.22 0.80 0.26 0.20 0.20 - 0.06 0.26 0.20 0.03 0.03 0.03 + 0.01 0.07 0.02 0.04 0.04 0.04 - 0.00 0.04 0.03 0.08 0.06 0.07 unch 0.00 0.54 0.06 0.06 0.05 0.06 + 0.01 0.39 0.05 1.75 0.00 1.75 unch 0.00 2.25 0.90 0.34 0.30 0.34 + 0.03 0.37 0.16 1.93 1.30 1.68 - 0.26 2.08 0.51 2.53 1.80 2.22 - 0.33 2.67 0.67 0.05 0.04 0.05 - 0.01 0.09 0.04 0.04 0.03 0.04 + 0.00 0.07 0.03 0.05 0.05 0.05 unch 0.00 0.18 0.03 0.00 0.00 0.12 unch 0.00 0.15 0.05 0.80 0.71 0.80 + 0.09 0.96 0.60 0.25 0.18 0.21 + 0.01 0.37 0.15 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.40 0.36 0.39 - 0.01 0.85 0.30 0.09 0.00 0.09 - 0.01 0.12 0.05 0.05 0.05 0.05 unch 0.00 0.09 0.04 0.02 0.01 0.02 + 0.01 0.02 0.01 0.15 0.14 0.14 - 0.00 0.21 0.07 0.20 0.18 0.19 - 0.01 0.27 0.11 0.04 0.04 0.04 unch 0.00 0.07 0.03 0.03 0.02 0.02 unch 0.00 0.05 0.02 0.02 0.02 0.02 - 0.01 0.03 0.01 0.01 0.01 0.01 - 0.01 0.03 0.01 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.10 0.08 0.08 - 0.02 0.15 0.07 0.14 0.11 0.14 + 0.03 0.22 0.08 0.10 0.09 0.10 + 0.01 0.70 0.08 0.06 0.06 0.06 - 0.03 0.52 0.06 6.70 6.07 6.69 + 0.35 6.86 3.15 5.04 4.58 5.03 + 0.25 5.17 2.38 0.19 0.14 0.19 + 0.03 0.44 0.11 47.47 42.20 47.32 + 3.18 49.13 17.26 63.20 56.00 62.94 + 4.35 65.45 22.42 0.32 0.25 0.31 + 0.02 0.35 0.10 0.42 0.35 0.41 + 0.03 0.45 0.17 0.04 0.03 0.04 + 0.00 0.05 0.02 0.05 0.04 0.04 unch 0.00 0.07 0.03 0.14 0.10 0.12 - 0.02 0.17 0.05 0.11 0.10 0.11 + 0.01 0.28 0.10 0.18 0.15 0.17 + 0.01 0.18 0.08 0.24 0.20 0.22 + 0.01 0.24 0.11 0.08 0.08 0.08 unch 0.00 0.29 0.05 0.08 0.05 0.07 - 0.00 0.17 0.02 0.04 0.04 0.04 unch 0.00 0.35 0.01 0.40 0.34 0.40 + 0.05 0.40 0.08 0.29 0.25 0.27 - 0.03 0.30 0.09 0.11 0.10 0.11 - 0.00 0.35 0.10 0.01 0.00 0.01 + 0.01 0.02 0.00 0.01 0.01 0.01 unch 0.00 0.02 0.01

I-J-K

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

L Labrador Gold V 64 Labrador IMH* O 69 Labrador IOR* O 3 Labrador IOR T 1182 Lake Forest Mi* O 0 Lara Expl V 105 Laramide Res T 389 Laredo Res* O 2119 Largo Res T 9660 Largo Res* O 1558 Lateral Gold V 228 Latin American* O 20 Latin Metals V 125 Latin Metals* O 125 Laurion Mnl Ex* O 401 Laurion Mnl Ex V 442 Le Mare Gold* O 0 O 169 Leading Edge* Leading Edge V 194 Leagold Mg* O 3113 Leagold Mg T 6547 Leeta Gold V 3282 Legion Metals 2096 Leo Res* O 4 Lepanto Con Mg* O 6278 Libero Copper* O 110 Libero Copper V 200 Liberty Gold* O 522 Liberty One Li V 235 Liberty One Li* O 594 LiCo Energy* O 74 LiCo Energy V 84 Lincoln Mng V 277 Lion One Mtls V 216 Lion One Mtls* O 206 Lions Bay Cap V 221 Lions Bay Mg * O 3 3 Lions Bay Mg Lions Gate Mtl* O 0 Lithion Energy* O 11 Lithium Amer* N 528 Lithium Amer T 421 Lithium Chile V 132 O 22 Lithium Chile* Lithium Corp* O 408 Lithium Energi* O 1 Lithium Energi V 50 Lithium Expl* O 508 Lithoquest Dia V 263 LKA Gold* O 9 Lode-Star Mg* O 152 Logan Res* O 2 Logan Res V 352 Lomiko Mtls V 961 Lomiko Mtls* O 112 Loncor Res* O 167 Loncor Res T 103 Lone Star Gold* O 9 Los Andes V 120 Los Andes* O 141 Lucara Diam T 930 Lucky Min V 632 Lucky Min* O 160 Luckystrike * O 56 Luckystrike V 103 Lumina Gold V 606 Lumina Gold* O 133 Luminex Res V 651 Lundin Gold T 921 Lundin Mng* O 256 Lundin Mng T 7291 Lupaka Gold * O 50 Lupaka Gold V 502 Lydian Intl* O 699 Lydian Intl T 7433 Lynas Corp* O 810 Lynas Corp* O 235

0.22 0.20 0.22 + 0.03 0.29 0.14 0.01 0.00 0.00 + 0.00 0.03 0.00 20.00 19.02 19.02 - 0.58 27.20 17.28 26.83 25.19 25.37 - 0.89 36.01 22.25 5.00 0.00 5.00 unch 0.00 5.00 0.50 0.51 0.46 0.49 + 0.02 0.63 0.41 0.26 0.23 0.25 + 0.01 0.52 0.21 0.00 0.00 0.00 + 0.00 0.03 0.00 1.55 1.36 1.36 - 0.20 4.65 1.36 1.18 1.02 1.02 - 0.14 3.56 1.02 0.06 0.04 0.06 + 0.01 0.73 0.04 0.02 0.02 0.02 unch 0.00 0.02 0.01 0.14 0.14 0.14 unch 0.00 0.40 0.08 0.10 0.10 0.10 unch 0.00 0.10 0.01 0.12 0.12 0.12 - 0.00 0.13 0.05 0.17 0.15 0.16 unch 0.00 0.18 0.07 0.00 0.00 0.01 unch 0.00 0.15 0.00 0.15 0.12 0.13 + 0.00 0.37 0.07 0.20 0.18 0.19 + 0.02 0.50 0.10 2.00 1.70 1.92 + 0.14 1.90 0.95 2.68 2.26 2.52 + 0.14 2.50 1.28 0.33 0.28 0.28 - 0.04 0.90 0.24 0.66 0.54 0.59 + 0.01 0.83 0.30 0.02 0.02 0.02 unch 0.00 0.60 0.01 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.13 0.11 0.11 - 0.03 0.14 0.04 0.16 0.15 0.16 - 0.01 0.18 0.07 0.51 0.42 0.48 + 0.04 0.57 0.21 0.08 0.07 0.07 - 0.02 0.18 0.06 0.06 0.05 0.05 - 0.01 0.18 0.04 0.04 0.02 0.03 - 0.00 0.18 0.01 0.04 0.00 0.04 unch 0.00 0.40 0.03 0.02 0.00 0.02 + 0.01 0.03 0.01 0.68 0.62 0.65 unch 0.00 0.79 0.35 0.52 0.46 0.49 - 0.01 0.60 0.24 0.06 0.04 0.05 - 0.01 0.12 0.04 0.14 0.00 0.14 + 0.02 0.14 0.00 0.18 0.00 0.18 unch 0.00 0.20 0.03 0.00 0.00 0.03 unch 0.00 0.06 0.03 0.32 0.31 0.32 - 0.00 0.35 0.02 3.61 3.25 3.28 - 0.21 5.17 2.75 4.81 4.32 4.36 - 0.29 6.69 3.74 0.38 0.36 0.37 - 0.01 1.01 0.36 0.28 0.27 0.28 + 0.00 0.81 0.27 0.09 0.07 0.08 - 0.01 0.25 0.05 0.09 0.09 0.09 unch 0.00 0.30 0.11 0.12 0.00 0.12 + 0.01 0.36 0.11 0.01 0.00 0.00 - 0.00 0.02 0.00 0.08 0.07 0.07 - 0.01 0.43 0.07 0.14 0.00 0.14 unch 0.00 0.43 0.05 0.05 0.05 0.05 unch 0.00 0.15 0.02 0.09 0.09 0.09 unch 0.00 0.12 0.00 0.12 0.11 0.11 + 0.01 0.24 0.11 0.04 0.03 0.03 unch 0.00 0.09 0.03 0.03 0.02 0.02 - 0.00 0.07 0.02 0.14 0.12 0.12 - 0.02 0.20 0.04 0.18 0.16 0.16 - 0.02 0.20 0.06 0.51 0.00 0.51 + 0.01 2.12 0.05 0.41 0.35 0.36 - 0.04 0.52 0.15 0.36 0.26 0.26 - 0.10 0.40 0.14 1.12 1.06 1.06 unch 0.00 2.39 1.04 0.05 0.05 0.05 + 0.01 0.20 0.04 0.04 0.03 0.03 - 0.00 0.16 0.03 0.16 0.12 0.14 + 0.04 0.35 0.08 0.22 0.13 0.16 + 0.03 0.55 0.11 0.71 0.61 0.71 + 0.10 0.82 0.46 0.55 0.45 0.55 + 0.08 1.03 0.35 0.96 0.69 0.94 + 0.20 1.05 0.51 8.26 7.46 8.20 + 0.41 8.40 4.42 4.57 4.35 4.43 + 0.04 5.94 3.60 6.10 5.84 5.89 + 0.08 7.96 4.70 0.02 0.02 0.02 - 0.00 0.13 0.01 0.03 0.02 0.02 - 0.01 0.21 0.02 0.16 0.10 0.12 unch 0.00 0.21 0.05 0.21 0.14 0.15 - 0.01 0.28 0.07 1.82 1.54 1.54 - 0.27 2.29 1.05 1.83 1.56 1.58 - 0.23 2.33 1.05

M M.P.V. Explor 135 0.12 0.11 0.12 unch 0.00 0.18 0.06 V 1910 0.08 0.06 0.06 unch 0.00 0.17 0.02 Macarthur Min Macarthur Min* O 585 0.05 0.05 0.05 + 0.00 0.31 0.01 MacDonald Mns* O 38 0.05 0.03 0.05 + 0.02 0.05 0.02 MacDonald Mns V 3079 0.08 0.05 0.08 + 0.03 0.08 0.03 MAG Silver T 1160 16.66 14.85 16.55 + 1.14 17.15 8.10 Magellan Gold* O 5 2.50 2.38 2.50 + 0.13 3.80 0.80 Magna Gold V 414 0.40 0.32 0.35 + 0.03 0.45 0.19 Magna Terra V 136 0.02 0.02 0.02 - 0.01 0.06 0.02 Magnitude Mng V 10 0.15 0.15 0.15 unch 0.00 0.20 0.14 Majestic Gold* O 42 0.05 0.04 0.04 + 0.00 0.08 0.03 0.04 Majestic Gold V 344 0.06 0.05 0.06 - 0.01 0.11 Makena Res* O 11 0.45 0.42 0.44 - 0.01 2.18 0.42 Mako Mining V 1472 0.14 0.12 0.13 + 0.01 0.21 0.09 Mako Mining* O 770 0.11 0.09 0.10 + 0.00 0.16 0.01 Mammoth Res V 45 0.03 0.03 0.03 unch 0.00 0.09 0.03 Mandalay Res T 472 1.25 1.08 1.13 - 0.08 1.75 0.45 Mandalay Res* O 140 0.93 0.83 0.87 - 0.08 1.12 0.03 Manganese X* O 13 0.07 0.07 0.07 - 0.03 0.16 0.07 Manganese X V 22 0.11 0.10 0.10 unch 0.00 0.20 0.08 Mangazeya Mng V 622 0.04 0.03 0.03 - 0.01 0.05 0.02 Mangazeya Mng* O 516 0.02 0.02 0.02 - 0.00 0.04 0.01 40 0.04 0.04 0.04 unch 0.00 0.05 0.03 Manitou Gold * O Manitou Gold V 288 0.05 0.04 0.05 unch 0.00 0.11 0.03 Maple Gold V 649 0.10 0.09 0.10 + 0.01 0.14 0.08 0.05 Maple Gold* O 523 0.08 0.06 0.07 + 0.00 0.11 Marathon Gold* O 694 1.09 0.98 1.08 + 0.07 1.08 0.49 Marathon Gold T 1489 1.44 1.31 1.43 + 0.08 1.44 0.65 Margaret Lake V 454 0.04 0.04 0.04 unch 0.00 0.11 0.02 Margaux Res V 94 0.12 0.08 0.10 - 0.02 0.16 0.03 Marifil Mines V 56 0.14 0.12 0.14 + 0.01 0.18 0.05 Marifil Mines* O 210 0.10 0.09 0.09 - 0.01 0.14 0.04 Maritime Res V 159 0.10 0.09 0.09 unch 0.00 0.12 0.08 MartinMarietta* N 2838 258.37 251.32 252.33 - 2.51 258.37 150.75 Mas Gold V 1 0.00 0.00 0.08 unch 0.00 0.16 0.04 Mascota Res* O 2 2.30 2.20 2.30 + 0.10 2.50 2.20 O 187 0.24 0.20 0.21 - 0.01 0.92 0.18 Mason Graphite* Mason Graphite V 253 0.31 0.26 0.28 - 0.01 1.21 0.25 V 4 0.12 0.12 0.12 + 0.01 0.25 0.11 Matachewan Con Matica Ent 2242 0.07 0.05 0.06 - 0.01 0.32 0.05 Matmown* O 398 0.01 0.01 0.01 + 0.00 0.08 0.00 T 290 6.60 5.91 6.40 + 0.10 6.96 3.34 Maverix Metals Maverix Metals* X 86 4.93 4.55 4.80 - 0.00 5.50 1.25 0.11 Mawson Res* O 38 0.15 0.12 0.15 + 0.02 0.27 Mawson Res T 477 0.20 0.18 0.19 + 0.03 0.39 0.15 MAX Res V 610 0.09 0.08 0.08 - 0.01 0.50 0.08 O 44 0.04 0.03 0.03 + 0.00 0.25 0.02 MaxTech Vent* MaxTech Vent 156 0.04 0.04 0.04 - 0.01 0.31 0.03 Maxwell Res* O 3 1.20 0.00 1.20 + 0.21 4.54 0.20 Maya Gold &Sil* O 4 1.37 1.26 1.37 - 0.03 2.16 1.20 Maya Gold &Sil T 38 1.90 1.67 1.83 + 0.09 2.85 1.58 Mazarin V 114 0.08 0.06 0.06 unch 0.00 0.18 0.05 MBMI Res* O 1 0.01 0.01 0.01 unch 0.00 1.00 0.01 MBMI Res V 143 0.02 0.01 0.02 + 0.01 0.07 0.01 McChip Res V 5 0.60 0.60 0.60 - 0.04 0.93 0.60 McEwen Mng T 1707 2.61 2.22 2.61 + 0.29 3.20 1.67 McEwen Mng* N 15538 1.97 1.67 1.96 + 0.21 2.44 1.23 McLaren Res 307 0.05 0.03 0.03 - 0.02 0.05 0.01 MDN Inc* O 281 0.19 0.18 0.18 unch 0.00 0.26 0.11 Mechel* N 465 1.84 1.53 1.76 + 0.12 3.42 1.53 V 118 0.12 0.11 0.12 + 0.01 0.28 0.09 Medallion Res Medallion Res* O 90 0.10 0.08 0.10 + 0.02 0.21 0.06 Medgold Res V 4 0.12 0.00 0.12 unch 0.00 0.38 0.09 Medinah Mnrls* O 1572 0.00 0.00 0.00 + 0.00 0.00 0.00 Mega Uranium T 350 0.09 0.08 0.09 + 0.01 0.15 0.08 Mega Uranium* O 378 0.08 0.06 0.06 + 0.00 0.12 0.06 Megastar Dev V 503 0.19 0.16 0.18 - 0.01 0.19 0.04 MegumaGold* O 74 0.08 0.05 0.08 + 0.02 0.16 0.05 MegumaGold 25 0.08 0.08 0.08 unch 0.00 0.26 0.06 Melior Res V 12 0.21 0.00 0.16 - 0.05 0.84 0.16 Melkior Res V 628 0.03 0.03 0.03 + 0.01 0.13 0.03 Meridian Mg V 38 0.12 0.11 0.12 - 0.02 0.22 0.06 Meridian Mg * O 1 0.13 0.13 0.13 unch 0.00 0.13 0.05 Meryllion Res* O 1 0.00 0.00 0.00 unch 0.00 0.02 0.00 Meryllion Res 932 0.01 0.01 0.01 unch 0.00 0.04 0.01 MetalCorp V 833 0.02 0.02 0.02 + 0.01 0.02 0.01 Metalex Vent V 160 0.04 0.03 0.04 unch 0.00 0.06 0.02 Metalla Rylty V 1335 1.22 1.07 1.10 - 0.10 1.43 0.63 Metalla Rylty* O 1005 0.92 0.80 0.81 - 0.12 1.08 0.48 Metallic Mnrls V 816 0.18 0.16 0.18 + 0.02 0.28 0.11 Metallic Mnrls* O 146 0.14 0.11 0.14 + 0.01 0.22 0.08 Metallis Res V 87 0.86 0.73 0.77 - 0.06 1.40 0.39 Metalo Manuf 4 0.20 0.20 0.20 unch 0.00 0.45 0.10 Metalo Manuf* O 15 0.18 0.18 0.18 unch 0.00 0.31 0.18 Metalore Res V 3 1.00 0.90 0.90 - 0.10 2.85 0.89 Metals Creek* O 19 0.04 0.03 0.04 + 0.00 0.06 0.02 Metals Creek V 137 0.05 0.05 0.05 + 0.01 0.07 0.03 Metals X* O 114 0.12 0.11 0.11 - 0.02 0.43 0.11

2019-08-26 1:16 PM

WWW.NORTHERNMINER.COM

SEPTEMBER 2–15, 2019 / THE NORTHERN MINER

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

Week

12-month

Exc Volume High Low Last Change High Low

Metron Capital V 64 Mexican Gold* O 43 Mexus Gold* O 2712 O 482 MGX Minerals* MGX Minerals 363 Michelin 7 Midas Gold T 699 Midas Gold* O 971 Midasco Cap V 12 Midland Expl V 254 Midnight Star 68 Midnight Sun V 305 Millennial Lit* O 22 Millennial Lit V 195 Millrock Res* O 246 Millrock Res V 363 Minaurum Gold V 519 Minaurum Gold* O 491 Minco Silver T 177 Minco Silver* O 171 Minera Alamos * O 784 Minera Alamos V 2298 Minera IRL 127 Mineral Mtn V 278 Mineral Mtn* O 78 2 Mineral Res* O MineralRite* O 500 Mineworx Tech V 340 O 151 Mineworx Tech* Minfocus Expl V 60 Minfocus Expl* O 9 O 2958 Mining Global* Minnova Corp V 3 Minsud Res V 20 Miramont Res 248 O 172 Miramont Res* Mirasol Res V 158 Mistango River 65 Mkango Res V 270 ML Gold* O 17 ML Gold Corp V 669 O 192 Monarca Mnrls* V 306 Monarca Mnrls Monarch Gold T 602 Monarch Gold* O 330 Moneta Porcpn* O 177 Moneta Porcpn T 483 Monitor Vent* O 2 16 Monitor Vent V Montego Res* O 15 Monterey Min 794 Montero Mg&Ex V 18 Monument Mng V 443 Morien Res* O 11 Morien Res V 288 Mosaic* N 21882 Mount Gibson * O 0 Mountain Boy V 37 O 47 Mountain Boy* Mountain Prov T 522 D 278 Mountain Prov* O 50 Mundoro Cap* Mundoro Cap V 286 Murchison Min V 825 MX Gold* O 8

0.05 0.04 0.05 unch 0.00 0.07 0.04 0.10 0.09 0.09 - 0.01 0.22 0.06 0.02 0.01 0.02 + 0.00 0.03 0.00 0.16 0.13 0.14 - 0.01 0.64 0.13 0.22 0.17 0.19 - 0.03 0.84 0.17 0.30 0.00 0.30 - 0.02 0.50 0.18 0.85 0.76 0.84 + 0.05 1.10 0.56 0.64 0.57 0.62 + 0.03 0.85 0.41 0.09 0.09 0.09 unch 0.00 0.11 0.09 0.94 0.84 0.88 - 0.02 1.46 0.66 0.16 0.12 0.16 + 0.02 0.40 0.11 0.12 0.11 0.12 + 0.01 0.23 0.10 1.21 0.00 1.12 + 0.02 1.63 0.67 1.55 1.42 1.46 + 0.02 2.15 1.04 0.07 0.06 0.07 + 0.00 0.16 0.05 0.10 0.09 0.10 + 0.01 0.21 0.07 0.49 0.40 0.40 - 0.05 0.58 0.32 0.37 0.30 0.30 - 0.04 0.45 0.23 0.83 0.73 0.77 + 0.04 0.85 0.35 0.63 0.55 0.60 + 0.04 0.63 0.24 0.13 0.10 0.12 + 0.01 0.13 0.06 0.16 0.15 0.16 + 0.01 0.18 0.09 0.10 0.09 0.09 + 0.01 0.12 0.05 0.20 0.16 0.18 - 0.01 0.22 0.07 0.15 0.12 0.13 - 0.01 0.17 0.05 9.30 9.30 9.30 unch 0.00 12.00 9.30 0.00 0.00 0.00 + 0.00 0.00 0.00 0.10 0.08 0.09 + 0.01 0.20 0.07 0.08 0.06 0.08 + 0.01 0.16 0.06 0.04 0.04 0.04 unch 0.00 0.09 0.03 0.04 0.04 0.04 unch 0.00 0.07 0.02 0.00 0.00 0.00 - 0.00 0.00 0.00 0.12 0.12 0.12 unch 0.00 0.79 0.09 0.06 0.06 0.06 unch 0.00 0.09 0.01 0.12 0.11 0.11 - 0.01 0.63 0.10 0.09 0.08 0.08 + 0.01 0.48 0.07 0.62 0.52 0.61 + 0.07 1.67 0.52 0.03 0.00 0.03 unch 0.00 0.05 0.01 0.12 0.12 0.12 unch 0.00 0.19 0.10 0.15 0.13 0.15 + 0.01 0.54 0.01 0.25 0.18 0.19 - 0.07 1.00 0.12 0.05 0.04 0.04 - 0.01 0.06 0.01 0.06 0.06 0.06 unch 0.00 0.08 0.02 0.27 0.25 0.26 unch 0.00 0.33 0.15 0.21 0.18 0.20 unch 0.00 0.24 0.11 0.09 0.07 0.08 - 0.01 0.12 0.06 0.12 0.10 0.11 - 0.02 0.16 0.07 0.14 0.13 0.14 + 0.01 0.80 0.12 0.18 0.00 0.18 - 0.01 0.98 0.16 0.01 0.01 0.01 unch 0.00 0.05 0.01 0.08 0.07 0.07 - 0.02 0.16 0.04 0.15 0.00 0.12 + 0.04 0.22 0.05 0.06 0.06 0.06 unch 0.00 0.08 0.04 0.33 0.29 0.29 - 0.04 0.44 0.30 0.43 0.40 0.40 - 0.04 0.61 0.40 20.13 17.95 18.01 - 1.73 37.37 17.95 0.57 0.57 0.57 unch 0.00 0.65 0.28 0.23 0.00 0.22 + 0.01 0.38 0.15 0.18 0.00 0.16 - 0.02 0.20 0.04 1.25 1.10 1.11 - 0.09 2.97 1.08 0.94 0.83 0.84 - 0.08 2.25 0.80 0.09 0.09 0.09 unch 0.00 0.19 0.00 0.12 0.11 0.12 - 0.01 0.25 0.11 0.07 0.07 0.07 unch 0.00 0.18 0.06 0.00 0.00 0.00 unch 0.00 0.02 0.00

N-O NA Frac Sand* O 2660 NACCO Ind* N 46 Namibia Crit V 41 Namibia Crit* O 36 Napier Vent V 16 Napier Vent* O 9 39 Natural Res Pt* N Nautilus Mnrls* O 2850 0 Navis Res Corp* O Navy Res V 30 Nemaska Lith T 1789 O 301 Nemaska Lith* Neo Lithium V 906 Neometals* O 100 Network Expl* O 37 Network Expl V 41 Nevada Canyon* O 50 T 1144 Nevada Copper O 2 Nevada Energy* V 8 Nevada Energy Nevada Expl * O 148 Nevada Expl V 261 Nevada Sunrise* O 66 V 242 Nevada Sunrise Nevada Zinc V 122 Nevado Res V 29 New Age Metals* O 82 New Age Metals V 674 New Carolin Gd* O 45 New Carolin Gd V 698 New Destiny Mg V 123 New Dimen Res V 80 New Dimen Res* O 30 New Energy Met V 158 New Energy Met* O 21 New Gold* X 20166 New Gold T 12452 New Guinea Gld* O 325 New Jersey Mng* O 431 New Milln Iron* O 2 New Milln Iron T 257 New Nadina V 28 New Nadina* O 5 New Oroperu V 50 New Pac Metals V 242 New Pac Metals* O 65 New Tech Min* O 0 111 New Tech Min Newlox Gold 249 Newmac Res V 187 Newmont Gdcorp* N 33056 T 614 Newmont Gdcorp Newport Expl V 438 Newport Gold* O 2000 NewRange Gold* O 403 NewRange Gold V 767 Nexa Resources T 2 Nexa Resources* N 521 Nexco Res 2280 Nexgen Energy T 1821 Nexgen Energy* X 1600 NextSource Mat T 2270 Nexus Gold* O 379 Nexus Gold V 6381 NGEx Minerals V 223 Nickel Creek T 890 Nickel Creek* O 871 Nickel North V 265 Nicola Mg Inc V 551 Nicola Mg Inc* O 96 Nighthawk Gold* O 416 Nighthawk Gold T 848 Niobay Metals V 240 Niocan Inc V 81 Niocorp Dev T 316 Niocorp Dev* O 441 Nippon Dragon V 10 Nippon Dragon* O 38 Nitinat Mnls V 428 Noble Metal V 234 Noble Metal * O 14 Noble Mineral V 436 Noka Res* O 662 Noram Vent V 102 Noram Vent* O 2 Noranda Alum* O 96 Nordic Gold* O 80 Nordic Gold V 87 Noront Res V 545 Norra Metals V 107 Norsemont Cap 162 Nortec Mnls V 50 North Am Nickl V 364 North Am Nickl* O 189 North Am Pall T 469

20-23_SEPT2_StockTables.indd 22

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(100s) Stock

Week

(100s) Stock

12-month

Exc Volume High Low Last Change High Low

North Am Pall* O 69 1 North Arrow Mn* O North Arrow Mn V 178 North Bay Res * O 6506 Northcliff Res T 85 Northern Light 633 Northisle C&G * O 1 V 15 Northisle C&G Norvista Cap V 74 NorZinc T 508 NorZinc* O 185 Nouveau Monde V 500 Nouveau Monde* O 80 T 1209 NovaGold Res NovaGold Res* X 12188 Novo Res* O 939 Novo Res V 1264 NRG Metals V 86 Nrthn Graphite V 137 O 143 Nrthn Graphite* Nrthn Lion V 45 Nrthn Mnrls &E* O 45 Nrthn Shield V 408 Nrthn Superior* O 40 Nrthn Superior V 200 Nrthn Vertex* O 213 Nrthn Vertex V 822 NSGold V 8 892 NSS Res Inc Nthn Dynasty T 1903 Nthn Dynasty* X 13036 Nthrn Sphere* O 65 Nubian Res V 250 Nuinsco Res 173 Nuinsco Res* O 5 NuLegacy Gold V 1051 NuLegacy Gold* O 368 N 3820 Nutrien* Nutrien T 4100 NV Gold* O 434 NV Gold V 605 NX Uranium* O 9 NxGold Ltd* O 100 NxGold Ltd V 1870 O.T. Mining* O 269 O3 Mining V 144 23644 OceanaGold T OceanaGold* O 26 Oceanic Iron O V 9 Oceanus Res* O 1 Oceanus Res V 194 Odyssey Res V 6 Olivut Res V 72 Olivut Res* O 17 Omineca Mining V 53 One World Lith* O 77 One World Lith 153 Opawica Expl V 1041 Opus One Res V 50 Orca Gold V 213 Orca Gold* O 30 Orefinders Res V 246 Orestone Mng V 879 Orex Mnrls* O 963 Orex Mnrls V 920 Orezone Gold* O 166 Orezone Gold V 545 Orford Mining V 35 OrganiMax* O 1 OrganiMax V 22 Origin Gold V 207 Original Sixtn* O 1 Orla Mng Ltd T 1211 Orla Mng Ltd* O 4 Oroco Res V 334 Oroco Res* O 173 Orocobre T 160 Oronova Energy V 210 Orosur Mng T 22 Orsu Metals V 13 Orsu Metals* O 8 Orvana Mnrls* O 138 Orvana Mnrls T 527 Osino Res V 711 Osisko Gold* N 3655 Osisko Gold T 2565 Osisko Metals* O 283 V 563 Osisko Metals Osisko Mng Inc T 2533 Osprey Gold V 1457 Otis Gold V 514 Otis Gold* O 117 Outcrop Gold V 157 Outcrop Gold* O 144 OZ Minerals* O 2

11.25 10.59 11.01 + 0.57 19.91 6.62 0.05 0.05 0.05 unch 0.00 0.14 0.04 0.07 0.00 0.07 + 0.01 0.18 0.05 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.07 0.06 0.07 + 0.01 0.11 0.05 0.04 0.04 0.04 unch 0.00 0.15 0.02 0.04 0.00 0.04 unch 0.00 0.09 0.03 0.07 0.00 0.07 + 0.01 0.13 0.05 0.10 0.09 0.10 unch 0.00 0.13 0.06 0.09 0.08 0.08 - 0.01 0.14 0.08 0.07 0.06 0.06 - 0.01 0.10 0.05 0.24 0.22 0.23 + 0.01 0.33 0.20 0.18 0.17 0.18 + 0.01 0.26 0.16 10.04 8.82 9.98 + 0.81 9.63 4.49 7.56 6.65 7.50 + 0.58 7.56 3.41 1.94 1.65 1.89 + 0.19 3.19 1.38 2.57 2.19 2.54 + 0.33 4.11 1.87 0.17 0.14 0.15 - 0.01 1.00 0.12 0.11 0.09 0.09 - 0.02 0.32 0.09 0.09 0.06 0.07 - 0.01 0.24 0.06 0.22 0.20 0.21 - 0.02 0.46 0.15 0.04 0.04 0.04 - 0.01 0.12 0.02 0.08 0.07 0.08 - 0.01 0.12 0.02 0.11 0.11 0.11 - 0.00 0.22 0.02 0.14 0.14 0.14 - 0.01 0.40 0.11 0.25 0.22 0.22 - 0.01 0.27 0.12 0.32 0.00 0.29 - 0.01 0.35 0.16 0.14 0.13 0.14 + 0.01 0.15 0.07 0.13 0.07 0.10 + 0.01 0.45 0.03 1.00 0.84 0.87 - 0.06 1.47 0.56 0.75 0.63 0.63 - 0.06 1.12 0.41 0.04 0.00 0.04 + 0.03 0.06 0.00 0.10 0.10 0.10 unch 0.00 0.15 0.07 0.01 0.01 0.01 unch 0.00 0.08 0.01 0.01 0.01 0.01 unch 0.00 0.04 0.00 0.07 0.06 0.07 + 0.01 0.22 0.03 0.05 0.04 0.05 + 0.01 0.17 0.02 50.29 47.84 48.03 - 1.75 58.99 43.96 66.97 63.58 63.88 - 2.23 76.17 59.97 0.22 0.13 0.19 + 0.06 0.22 0.05 0.29 0.17 0.25 + 0.08 0.29 0.07 0.09 0.07 0.09 - 0.01 1.00 0.01 0.04 0.04 0.04 unch 0.00 0.12 0.04 0.05 0.04 0.05 - 0.01 0.17 0.04 0.07 0.04 0.07 unch 0.00 0.24 0.04 2.91 2.50 2.59 - 0.37 4.20 1.60 3.22 2.85 3.13 - 0.13 5.01 2.85 2.47 2.20 2.21 - 0.35 3.74 2.20 0.08 0.08 0.08 unch 0.00 0.15 0.04 0.05 0.05 0.05 unch 0.00 0.13 0.04 0.08 0.06 0.06 - 0.01 0.18 0.05 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.09 0.07 0.08 + 0.01 0.16 0.07 0.08 0.04 0.07 + 0.01 0.12 0.04 0.06 0.00 0.05 - 0.01 0.09 0.02 0.12 0.08 0.08 - 0.01 0.22 0.07 0.11 0.10 0.11 unch 0.00 0.28 0.09 0.08 0.07 0.07 - 0.01 0.13 0.05 0.04 0.04 0.04 unch 0.00 0.08 0.01 0.38 0.00 0.36 + 0.04 0.56 0.30 0.28 0.25 0.28 + 0.03 0.42 0.23 0.07 0.06 0.07 + 0.01 0.08 0.03 0.13 0.11 0.11 - 0.02 0.25 0.06 0.09 0.05 0.09 + 0.04 0.13 0.03 0.12 0.06 0.12 + 0.06 0.17 0.05 0.61 0.52 0.61 + 0.06 0.61 0.30 0.81 0.70 0.81 + 0.10 0.81 0.39 0.11 0.10 0.10 - 0.02 0.33 0.07 0.05 0.00 0.05 - 0.00 0.08 0.02 0.11 0.00 0.11 + 0.04 0.36 0.05 0.10 0.00 0.09 unch 0.00 0.14 0.07 0.10 0.10 0.10 unch 0.00 0.17 0.00 1.66 1.53 1.66 + 0.01 1.80 0.85 1.23 1.20 1.20 - 0.03 1.31 0.00 0.46 0.40 0.40 - 0.04 0.74 0.17 0.37 0.31 0.31 - 0.00 0.56 0.13 2.28 2.05 2.15 - 0.05 4.77 2.05 0.07 0.06 0.06 - 0.02 0.16 0.05 0.08 0.07 0.07 - 0.01 0.20 0.02 0.37 0.00 0.37 + 0.01 0.40 0.17 0.28 0.00 0.28 unch 0.00 0.30 0.13 0.29 0.25 0.27 - 0.01 0.30 0.09 0.37 0.33 0.35 - 0.03 0.41 0.12 0.53 0.40 0.48 + 0.08 0.53 0.20 12.84 11.85 12.77 + 0.62 13.43 7.00 17.08 15.74 16.97 + 0.87 17.17 9.27 0.41 0.38 0.40 - 0.00 0.54 0.36 0.55 0.50 0.54 unch 0.00 0.72 0.46 3.72 3.26 3.61 + 0.14 3.90 1.82 0.06 0.05 0.06 + 0.01 0.07 0.04 0.10 0.09 0.09 unch 0.00 0.20 0.07 0.07 0.06 0.07 - 0.00 0.16 0.05 0.28 0.25 0.28 + 0.01 0.45 0.10 0.21 0.19 0.20 - 0.01 0.33 0.01 6.33 6.13 6.33 + 0.20 7.89 5.90

Pac Bay Mnrls V 50 Pac Booker Min V 8 Pac Imperial V 1650 Pac Iron Ore V 50 Pac Ridge Expl V 260 Pac Wildcat* O 15 Pacific Empire V 746 Pacific Rim 240 Pacific Rim* O 104 Pacific Silk V 34 Pacton Gold V 5736 Paladin Energy* O 163 V 181 Palamina Corp Palamina Corp* O 38 Paleo Resource V 88 Paleo Resource* O 252 V 20 Palladium One Palladium One* O 25 Pan Am Silver* D 12452 Pan Am Silver T 1530 Pan Andean Min V 944 Pan Andean Min* O 50 Pan Global Res V 358 Pancontinental* O 68 Pancontinental V 769 Panex Res* O 500 Pangolin Dia V 2366 Panoro Mnrls V 95 Pantheon Vent V 173 Para Resources V 323 Parallel Mng V 960 Paramount Gold* X 227 Paringa Res* O 48 Paringa Res* D 34 Parlane Res V 249 Pasinex Res 244 Patriot Gold* O 125 Peabody Enrgy* N 4136 Pedro Res V 430 Pelangio Expl* O 1 Pelangio Expl V 169 Peloton Mnrls 143 Peloton Mnrls* O 166 PepinNini Lith* O 54 Perseus Mng T 532 Pershimex Res V 190 Pershing Res* O 318 Peruvian Metal* O 500 Peruvian Metal V 21 Philex Mng* O 10 Phoenix Global* O 3 Pine Cliff En* O 7 Pine Cliff En T 4155 Pinecrest Res V 8 Pistol Bay Mng* O 0 Pistol Bay Mng V 896 Pivit Explor 1404 PJSC Polyus Gd* O 1 PJX Res V 329 Plata Latina V 17 Plate Res V 2 Plateau Energy V 110 Plateau Energy* O 97 Platinum Gp Mt* X 394 Platinum Gp Mt T 55

0.07 0.07 0.07 unch 0.00 0.20 0.06 1.55 1.45 1.52 - 0.12 4.10 0.65 0.03 0.03 0.03 unch 0.00 0.04 0.01 0.07 0.07 0.07 unch 0.00 0.10 0.06 0.05 0.04 0.05 + 0.01 0.07 0.04 0.00 0.00 0.00 unch 0.00 0.15 0.00 0.06 0.05 0.05 - 0.01 0.12 0.05 0.13 0.11 0.13 + 0.01 0.34 0.10 0.10 0.09 0.09 + 0.00 0.26 0.07 0.03 0.00 0.03 + 0.01 0.04 0.02 0.24 0.16 0.23 + 0.06 0.56 0.11 0.10 0.09 0.09 + 0.00 0.30 0.08 0.25 0.20 0.24 + 0.02 0.41 0.20 0.19 0.00 0.18 - 0.00 0.31 0.16 0.03 0.02 0.02 + 0.01 0.10 0.01 0.02 0.02 0.02 - 0.00 0.07 0.00 0.07 0.00 0.07 - 0.01 0.15 0.03 0.05 0.05 0.05 + 0.00 0.07 0.02 17.50 15.88 17.45 + 0.95 17.50 10.26 23.27 21.08 23.21 + 1.32 23.27 13.83 0.06 0.04 0.04 - 0.01 0.09 0.03 0.04 0.04 0.04 unch 0.00 0.07 0.02 0.11 0.11 0.11 + 0.02 0.25 0.07 0.03 0.02 0.03 + 0.00 0.06 0.01 0.04 0.04 0.04 - 0.01 0.09 0.02 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.06 0.03 0.04 + 0.01 0.06 0.03 0.14 0.12 0.13 - 0.01 0.31 0.12 0.05 0.05 0.05 unch 0.00 0.12 0.04 0.15 0.11 0.15 + 0.03 0.22 0.11 0.03 0.03 0.03 unch 0.00 0.08 0.02 0.92 0.83 0.87 - 0.00 1.24 0.70 0.07 0.02 0.02 - 0.05 0.35 0.02 2.95 1.94 2.09 - 1.05 10.38 1.94 0.10 0.08 0.10 + 0.01 0.20 0.03 0.05 0.04 0.04 - 0.01 0.14 0.03 0.07 0.05 0.06 + 0.00 0.15 0.04 19.90 17.10 17.51 - 1.67 44.71 17.10 0.18 0.15 0.16 - 0.02 0.29 0.15 0.15 0.12 0.12 - 0.03 0.29 0.09 0.18 0.00 0.17 + 0.01 0.38 0.12 0.10 0.08 0.10 + 0.01 0.13 0.03 0.08 0.06 0.08 + 0.00 0.11 0.05 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.70 0.67 0.68 - 0.04 0.78 0.25 0.04 0.04 0.04 unch 0.00 0.06 0.03 0.02 0.01 0.01 unch 0.00 0.05 0.00 0.02 0.02 0.02 unch 0.00 0.07 0.02 0.04 0.04 0.04 + 0.01 0.10 0.03 0.04 0.04 0.04 - 0.02 0.10 0.00 0.21 0.21 0.21 unch 0.00 0.75 0.21 0.08 0.07 0.07 - 0.01 0.29 0.07 0.11 0.10 0.11 + 0.01 0.39 0.10 0.18 0.18 0.18 unch 0.00 0.28 0.16 0.00 0.00 0.04 unch 0.00 0.05 0.02 0.04 0.03 0.03 - 0.01 0.08 0.03 0.39 0.17 0.30 + 0.12 0.39 0.06 55.70 0.00 55.70 + 3.70 57.00 31.05 0.16 0.14 0.16 + 0.02 0.36 0.11 0.04 0.00 0.04 unch 0.00 0.04 0.02 0.00 0.00 0.03 unch 0.00 0.08 0.03 0.30 0.25 0.26 - 0.03 1.27 0.24 0.22 0.18 0.18 - 0.01 0.98 0.18 1.37 1.15 1.21 + 0.02 2.17 0.98 1.80 1.55 1.59 - 0.02 2.91 1.25

P-Q

Week

12-month

Exc Volume High Low Last Change High Low

Plato Gold V 124 Playfair Mng V 131 Playfair Mng* O 5 X 2081 PolyMet Mng* PolyMet Mng T 48 Portage Res* O 615 Portex Mnrls* O 13 Portofino Res V 350 O 27 Portofino Res* Potash Ridge* O 59 Potash Ridge T 777 Power Group* O 1 Power Group V 322 O 107 Power Metals* Power Metals V 74 PowerOre V 252 PPX Mining* O 948 PPX Mining V 1702 Precipitate Gl* O 129 Precipitate Gl V 330 Premier Gold M T 2571 O 20 Premium Expl* Pretium Res* N 9765 Pretium Res T 3815 V 90 Prime Meridian Prism Res V 90 Prize Mng* O 181 Prize Mng V 421 ProAm Expl V 50 O 294 Probe Metals* Probe Metals V 268 Prog Planet V 94 Prog Planet* O 34 Promithian Gl * O 0 O 1565 Prophecy Coal* Prophecy Coal T 3818 Prosper Gold V 17 Prospero Silvr V 91 Prospero Silvr* O 87 Provenance Gld 5 Providence V 120 Providence Gld* O 66 PUF Vent Inc * O 1696 Puma Expl V 278 Puma Expl* O 50 Pure Alumina* O 72 Pure Energy* O 350 Pure Energy V 116 Pure Gold Mg* O 739 Pure Gold Mg V 3808 Pure Nickel V 1184 Pure Nickel* O 600 Purepoint Uran V 607 Q-Gold Res* O 2 Q-Gold Res V 13 QC Precious V 218 QC Precious * O 26 QMC Quantum Ml V 273 QMC Quantum Ml* O 340 QMX Gold* O 398 QMX Gold V 1559 Quadro Res V 33 Quantum Cobalt 25 0 Quartz Mtn Res* O 21 Quartz Mtn Res V Quaterra Res V 189 Quaterra Res* O 350 69 Quest Rare Mnl* O Quinto Res V 234

0.03 0.03 0.03 unch 0.00 0.04 0.01 0.06 0.05 0.06 - 0.01 0.07 0.02 0.04 0.04 0.04 - 0.00 0.05 0.01 0.37 0.32 0.35 - 0.01 1.25 0.32 0.50 0.44 0.46 - 0.02 1.60 0.44 0.00 0.00 0.00 - 0.00 0.02 0.00 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.05 0.04 0.04 - 0.01 0.22 0.03 0.03 0.03 0.03 unch 0.00 0.03 0.03 0.03 0.03 0.03 unch 0.00 0.08 0.02 0.04 0.04 0.04 unch 0.00 0.11 0.03 0.07 0.07 0.07 - 0.00 0.18 0.01 0.11 0.09 0.11 unch 0.00 0.80 0.07 0.07 0.06 0.06 - 0.01 0.24 0.05 0.09 0.09 0.09 unch 0.00 0.31 0.07 0.09 0.08 0.08 - 0.01 0.15 0.05 0.04 0.04 0.04 - 0.00 0.08 0.03 0.06 0.06 0.06 - 0.01 0.10 0.05 0.07 0.07 0.07 - 0.02 0.12 0.03 0.10 0.10 0.10 - 0.01 0.15 0.04 2.38 2.07 2.35 + 0.19 2.55 1.39 0.00 0.00 0.00 unch 0.00 0.01 0.00 13.63 11.95 13.61 + 1.29 13.63 6.53 18.12 15.86 18.06 + 1.73 17.85 8.59 0.10 0.09 0.09 - 0.01 0.12 0.07 0.04 0.04 0.04 unch 0.00 0.06 0.03 0.02 0.01 0.02 - 0.00 0.14 0.01 0.02 0.02 0.02 unch 0.00 0.19 0.02 0.03 0.03 0.03 unch 0.00 0.04 0.02 0.84 0.80 0.83 + 0.03 1.02 0.68 1.13 1.06 1.10 unch 0.00 1.37 0.91 0.04 0.03 0.03 - 0.01 0.10 0.03 0.03 0.03 0.03 - 0.00 0.04 0.02 0.05 0.00 0.05 unch 0.00 0.10 0.01 0.24 0.14 0.22 + 0.08 0.56 0.09 0.31 0.20 0.31 + 0.11 0.74 0.11 0.06 0.00 0.06 - 0.01 0.18 0.06 0.09 0.08 0.08 + 0.01 0.10 0.04 0.07 0.07 0.07 - 0.00 0.08 0.04 0.14 0.14 0.14 unch 0.00 0.39 0.10 0.10 0.09 0.10 - 0.01 0.20 0.08 0.07 0.07 0.07 unch 0.00 0.16 0.06 0.22 0.19 0.20 - 0.01 0.64 0.08 0.02 0.01 0.02 unch 0.00 0.07 0.01 0.01 0.01 0.01 unch 0.00 0.06 0.01 0.02 0.02 0.02 unch 0.00 0.06 0.02 0.06 0.05 0.05 - 0.00 0.16 0.03 0.08 0.07 0.07 unch 0.00 0.20 0.05 0.50 0.46 0.48 + 0.03 0.62 0.36 0.66 0.62 0.63 + 0.01 0.81 0.49 0.08 0.05 0.08 + 0.02 0.08 0.01 0.06 0.03 0.06 + 0.01 0.06 0.00 0.06 0.05 0.06 + 0.01 0.11 0.05 0.21 0.21 0.21 unch 0.00 0.21 0.14 0.27 0.00 0.26 - 0.01 0.30 0.12 0.34 0.28 0.32 + 0.06 0.40 0.22 0.26 0.21 0.24 + 0.03 0.31 0.16 0.18 0.16 0.16 - 0.02 0.41 0.15 0.14 0.11 0.12 - 0.01 0.32 0.11 0.06 0.05 0.06 + 0.00 0.07 0.03 0.08 0.07 0.08 unch 0.00 0.11 0.04 0.03 0.03 0.03 unch 0.00 0.07 0.02 0.04 0.00 0.04 + 0.01 0.19 0.04 0.23 0.00 0.23 + 0.00 0.69 0.22 0.22 0.00 0.22 - 0.03 0.78 0.22 0.07 0.06 0.06 - 0.01 0.13 0.05 0.05 0.04 0.05 + 0.00 0.10 0.04 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.07 0.06 0.07 + 0.01 0.09 0.02

R Rackla Metals V 1 0.12 0.00 0.12 unch 0.00 0.20 0.06 O 1 0.10 0.09 0.09 - 0.01 0.12 0.05 Rackla Metals* Radisson Mng V 614 0.17 0.15 0.17 + 0.02 0.17 0.09 0.09 Radius Gold V 347 0.30 0.26 0.29 + 0.03 0.47 Rain City 27 0.06 0.05 0.06 + 0.01 0.14 0.05 Rainforest Res* O 17 6.50 5.50 5.50 - 0.45 9.20 4.00 0.02 0.02 0.02 + 0.01 0.04 0.02 Rainy Mtn Royl V 439 Rare Element* O 697 0.42 0.34 0.42 + 0.05 0.60 0.03 V 34 0.11 0.10 0.11 unch 0.00 0.14 0.03 Rathdowney Res Ravencrest Res 464 0.46 0.40 0.41 - 0.03 1.09 0.35 Red Eagle Mng* O 2 0.00 0.00 0.00 unch 0.00 0.09 0.00 16 0.04 0.00 0.04 unch 0.00 0.12 0.01 Red Moon Res V Red Oak Mining V 194 0.03 0.03 0.03 unch 0.00 0.08 0.03 0.04 0.04 0.04 - 0.01 0.08 0.03 Red Pine Expl V 344 Redstar Gold V 557 0.04 0.00 0.04 + 0.01 0.04 0.02 Redstar Gold* O 325 0.03 0.02 0.03 + 0.01 0.03 0.01 1.25 Regulus Res V 315 1.54 1.38 1.52 + 0.15 2.01 Renaissance Gd* O 215 0.28 0.24 0.25 - 0.02 0.33 0.11 V 100 0.36 0.32 0.35 - 0.01 0.43 0.15 Renaissance Gd Renforth Res 567 0.06 0.05 0.05 - 0.01 0.06 0.02 0.06 Resolve Vent V 113 0.07 0.06 0.06 - 0.01 0.13 Reunion Gold V 1378 0.29 0.26 0.28 + 0.02 0.34 0.13 Reunion Gold* O 489 0.22 0.19 0.21 + 0.01 0.25 0.10 0.01 Revelo Res V 134 0.02 0.02 0.02 - 0.01 0.03 Revival Gold * O 128 0.56 0.51 0.51 - 0.02 0.67 0.32 0.44 Revival Gold V 194 0.74 0.69 0.70 + 0.02 0.87 Rhyolite Res V 501 0.17 0.14 0.17 + 0.02 0.26 0.14 Richmond Mnls V 400 0.03 0.03 0.03 unch 0.00 0.06 0.02 V 26 0.24 0.22 0.24 - 0.02 0.30 0.15 Ridgestone M’g O 12 0.19 0.17 0.17 - 0.01 0.21 0.14 Ridgestone M’g* Riley Resource V 8 0.18 0.18 0.18 unch 0.00 0.41 0.15 Rimrock Gold* O 19627 0.00 0.00 0.00 + 0.00 0.00 0.00 Rio Silver V 36 0.05 0.04 0.05 + 0.01 0.05 0.03 Rio Silver* O 45 0.04 0.03 0.04 + 0.00 0.04 0.02 44.62 Rio Tinto* N 11190 49.56 47.88 47.98 - 0.84 64.02 Rio Tinto* O 1 48.15 48.15 48.15 unch 0.00 62.00 43.47 Rio Tinto* O 102 55.34 0.00 55.19 - 0.27 74.50 50.48 Rio2 Limited* O 116 0.44 0.38 0.44 + 0.06 0.60 0.24 Rio2 Limited V 468 0.58 0.51 0.57 + 0.05 0.79 0.31 0.09 0.07 0.08 - 0.01 0.12 0.05 Rise Gold Corp 1401 Rise Gold Corp* O 1541 0.07 0.05 0.06 - 0.01 0.10 0.04 Riverside Res V 416 0.18 0.16 0.18 + 0.01 0.24 0.13 Riverside Res* O 239 0.14 0.12 0.14 + 0.01 0.19 0.10 RJK Explor* O 39 0.07 0.07 0.07 unch 0.00 0.12 0.00 RJK Explor V 526 0.10 0.09 0.10 + 0.01 0.20 0.04 Robex Res V 489 0.09 0.09 0.09 unch 0.00 0.12 0.06 Rochester Res V 42 0.04 0.00 0.04 unch 0.00 0.06 0.03 Rochester Res* O 0 0.00 0.00 0.02 unch 0.00 0.04 0.02 Rock Tech Lith V 15 0.57 0.52 0.55 - 0.04 1.35 0.50 Rockcliff Met 172 0.10 0.09 0.09 unch 0.00 0.19 0.08 Rockcliff Met* O 17 0.07 0.07 0.07 unch 0.00 0.14 0.02 Rockex Mng 400 0.05 0.04 0.04 unch 0.00 0.10 0.01 Rockhaven Res V 329 0.15 0.11 0.15 + 0.04 0.19 0.09 Rockridge Res V 438 0.18 0.16 0.16 unch 0.00 0.39 0.16 Rockshield Cap* O 5 0.05 0.05 0.05 unch 0.00 0.17 0.04 Rockwealth Res V 93 0.49 0.42 0.43 - 0.05 0.50 0.11 Rodinia Lithm V 130 0.05 0.05 0.05 unch 0.00 0.10 0.04 Rogue Res* O 0 0.00 0.00 0.06 unch 0.00 0.13 0.04 Rogue Res V 4 0.10 0.00 0.10 - 0.02 0.21 0.06 Rokmaster Res V 349 0.05 0.04 0.04 - 0.01 0.13 0.03 Romios Gold Rs* O 326 0.04 0.03 0.04 + 0.00 0.07 0.02 Romios Gold Rs V 918 0.06 0.05 0.05 - 0.01 0.09 0.04 RosCan Gold* O 112 0.13 0.11 0.11 - 0.01 0.23 0.09 RosCan Gold V 3394 0.17 0.14 0.15 - 0.02 0.33 0.05 Rosita Mg Corp* O 52 0.02 0.00 0.02 + 0.02 0.05 0.00 Rosita Mg Corp V 133 0.06 0.00 0.04 - 0.02 0.06 0.03 Rotation Mnls V 1352 0.19 0.14 0.19 + 0.05 0.25 0.07 Roughrider Exp V 65 0.08 0.08 0.08 unch 0.00 0.13 0.06 Rover Metals* O 5 0.40 0.20 0.20 - 0.20 2.01 0.02 Roxgold T 5390 1.39 1.14 1.35 + 0.17 1.31 0.72 Roxgold* O 427 1.01 0.85 1.01 + 0.12 0.99 0.55 Royal Gold V 253 0.33 0.17 0.23 + 0.06 0.33 0.10 Royal Gold* O 0 0.00 0.00 0.02 unch 0.00 0.02 0.02 Royal Gold* D 2698 130.38 121.52 129.35 + 4.71 131.28 70.16 Royal Nickel T 10718 0.51 0.42 0.45 + 0.01 1.18 0.08 Royal Nickel* O 1993 0.38 0.31 0.34 - 0.00 0.90 0.06 Royal Rd Mnrls V 300 0.18 0.00 0.17 - 0.02 0.21 0.06 RT Minerals V 212 0.05 0.04 0.04 unch 0.00 0.10 0.04 RTG Mining T 38 0.08 0.07 0.08 unch 0.00 0.16 0.07 RTG Mining * O 6 0.05 0.05 0.05 unch 0.00 0.11 0.05 Rubicon Mnrls T 839 0.99 0.84 0.99 + 0.11 1.52 0.61 Rubicon Mnrls* O 175 0.73 0.64 0.73 + 0.10 1.14 0.46 Rugby Mng V 50 0.22 0.22 0.22 unch 0.00 0.28 0.13 Running Fox Rs* O 75 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.02 0.02 0.02 - 0.01 0.03 0.01 Running Fox Rs V 1075 Rupert Res V 55 0.85 0.00 0.85 + 0.08 1.12 0.75 Rusoro Mng* O 603 0.05 0.04 0.05 + 0.00 0.32 0.04 Rusoro Mng V 1040 0.07 0.07 0.07 + 0.01 0.42 0.06

S Sabina Gd&Slvr T 4090 Sabina Gd&Slvr* O 3193 Sable Res* O 15 Sable Res V 114 Sage Gold* O 32 Sailfish Rylty V 663 Saint Jean* O 6

2.17 1.62 2.13 + 0.47 1.91 0.99 1.64 1.19 1.61 + 0.35 1.50 0.73 0.09 0.08 0.08 - 0.00 0.28 0.07 0.12 0.11 0.12 + 0.02 0.37 0.09 0.00 0.00 0.00 - 0.00 0.02 0.00 1.38 1.15 1.18 - 0.08 1.81 0.70 0.00 0.00 0.00 unch 0.00 0.04 0.00

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Salazar Res* O 34 Salazar Res V 84 5 Salt Lake Pot* O Sama Res V 1479 Sama Res* O 158 Samex Mng* O 20 San Gold Corp* O 102 5 San Marco Res* O San Marco Res V 190 Sanatana Res V 366 O 125 Sanatana Res* Sandfire Res V 230 Sandfire Res* O 476 V 2382 Sandspring Res O 1451 Sandspring Res* T 2343 Sandstorm Gold X 6655 Sandstorm Gold* Santa Fe Gold* O 583 V 985 Santacruz Silv Sarama Res V 548 Sarissa Res* O 3538 Satori Res V 284 Satori Res* O 50 Saturn Mnrls V 270 Saville Res V 152 O 457 Scandium Intl* 76 Scandium Intl T Scorpio Gold V 1329 Scorpio Gold * O 183 Scotch Creek 142 ScoZinc Mg V 51 Seabridge Gld T 324 N 2630 Seabridge Gld* Search Mnls V 189 Searchlight* O 4 O 154 SearchlightMin* V 81 SearchlightRes Secova Mtls V 2905 Secova Mtls* O 41 Sego Res V 118 Select Sands V 360 T 5813 Semafo Serabi Gold T 16 Serengeti Res V 153 Shamrock Ent 250 O 20 Shear Diamonds* Sherritt Intl T 1535 15638 N Sibanye-Stillw* O 6 Sibanye-Stillw* 12028 O Sidney Resrces* Sienna Res V 111 Sienna Res* O 470 Sierra Madre V 26 Sierra Metals T 32 X 89 Sierra Metals* V 96 Sigma Lithium V 158 Signature Res O 69 Signature Res* 7 Silver Bear Rs* O Silver Bear Rs T 204 Silver Bull Re* O 1796 Silver Bull Re T 1387 Silver Grail V 109 Silver Mtn Mns* O 194 4 Silver Mtn Mns V Silver Phoenix 1 Silver Predatr V 33 O 216 Silver Predatr* Silver Range* O 30 Silver Range V 197 Silver Scott* O 38 O 251 Silver Spruce* Silver Spruce V 614 Silver Viper* O 3 Silver Viper V 187 T 2837 Silvercorp Met X 6108 Silvercorp Met* SilverCrest* X 1507 SilverCrest V 919 O 15 Silverore Mns* O 36 Silverstar Res* Sirios Res* O 3 Sirios Res V 1039 Sitka Gold 17 Sixty North 204 Skarb Explor 250 Skeena Res* O 29 Skeena Res V 274 Sky Gold V 6009 Sky Gold* O 30 O 157 Skyharbour Res* V 250 Skyharbour Res Slam Explor V 18 20 Slave Lake Zn O 114 Sokoman Min* Sokoman Min V 1211 SolGold plc* O 294 SolGold plc T 21 T 80 Solitario Ex&R X 190 Solitario Ex&R* Solstice Gold V 80 9 Sonora Gld & S V O 9 Sonoro Metals* V 63 Sonoro Metals South32* O 6 O 16 Southern Arc* Southern Arc V 33 N 4554 Southern Copp* O 295 Southern Silvr* V 167 Southern Silvr T 27 SouthGobi Res Spanish Mtn Gd V 1014 Spanish Mtn Gd* O 1408 Sparton Res V 216 Sparton Res* O 72 O 37 Spearmint Res* Spearmint Res 1771 Spey Resources 321 Sphinx Res V 552 Sprott Res Hld T 386 46 Spruce Ridge R V SRG Mining V 39 SSR Mining* D 5796 SSR Mining T 1323 St Augustine T 128 St-Georges Eco 711 O 4 St-Georges Eco* V 92 Stakeholdr Gld O 787 Standard Graph* Standard Lith V 133 O 22 Standard Metal* Stans Energy V 9972 O 3622 Stans Energy* Star Diamond T 1073 O 41 Star Diamond* Star Gold* O 123 Starcore Intl T 288 Starr Peak Exp V 515 Stellar Africa V 262 Stelmine Can V 53 Steppe Gold T 86 10720 T Stornoway Diam O 218 Stornoway Diam* Stratabd Mnr V 98 O 303 Strategic Metl* V 930 Strategic Metl Strategic Res V 38 Stria Lithium V 220 V 1170 Strikepoint Gd O 224 Strikepoint Gd* V 448 Strongbow Expl O 25 Strongbow Expl* V 507 Res Stroud Stuhini Explor V 267 Sulliden Mng T 742 Sun Metals V 2194 N 12827 Suncor Energy* Suncor Energy T 13083 O Superior Gold* 171 Superior Gold V 731 Superior Mng V 6 Supreme Metals 300 40 Surge Copper * O V 53 Surge Copper 116 Surge Explor* O Surge Explor V 435 Sutter Gold* O 70 Syrah Res* O 80

0.07 unch 0.00 0.15 0.13 0.11 0.13 0.10 unch 0.00 0.20 0.19 0.00 0.19 0.51 0.51 0.51 unch 0.00 0.58 0.31 0.21 0.26 0.21 0.26 + 0.05 0.44 0.15 0.18 0.15 0.15 - 0.02 0.33 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.03 0.03 0.03 - 0.00 0.16 0.02 0.05 0.05 0.05 + 0.01 0.23 0.04 0.02 unch 0.00 0.06 0.04 0.04 0.04 0.01 unch 0.00 0.05 0.03 0.03 0.03 0.06 0.29 0.26 0.26 - 0.01 0.40 0.05 0.23 0.19 0.20 - 0.00 0.31 0.15 0.34 0.23 0.32 + 0.08 0.35 0.11 0.25 0.17 0.24 + 0.06 0.28 4.60 8.65 7.78 8.60 + 0.62 9.21 3.48 6.51 5.86 6.48 + 0.48 7.02 0.08 0.07 0.08 - 0.00 0.14 0.04 0.05 0.18 0.15 0.15 - 0.03 0.20 0.05 0.09 0.09 0.09 - 0.01 0.12 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.04 unch 0.00 0.10 0.06 0.06 0.06 0.03 unch 0.00 0.07 0.05 0.05 0.05 0.09 0.14 0.12 0.12 + 0.01 0.30 0.03 0.06 0.05 0.05 + 0.01 0.07 0.08 0.11 0.10 0.11 + 0.01 0.24 0.14 0.13 0.14 + 0.01 0.32 0.10 0.01 0.12 0.10 0.12 + 0.01 0.16 0.10 0.08 0.10 + 0.01 0.11 0.01 0.07 0.08 0.07 0.07 - 0.01 0.13 0.34 0.40 0.36 0.40 + 0.06 0.85 13.65 20.27 17.07 20.09 + 2.40 20.80 10.45 15.23 12.85 15.16 + 1.85 15.74 0.03 unch 0.00 0.06 0.04 0.04 0.04 0.01 unch 0.00 0.10 0.02 0.00 0.02 0.01 0.06 0.03 0.06 + 0.03 0.07 0.02 0.04 0.00 0.04 + 0.01 0.06 0.02 unch 0.00 0.09 0.05 0.04 0.04 0.01 0.04 0.02 0.04 + 0.01 0.06 0.03 0.04 0.03 0.03 - 0.01 0.07 0.03 unch 0.00 0.47 0.04 0.03 0.03 2.24 5.29 4.61 5.24 + 0.42 5.75 0.45 1.15 1.05 1.15 + 0.09 1.20 0.13 unch 0.00 0.60 0.30 0.28 0.29 0.02 unch 0.00 0.06 0.02 0.02 0.02 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.17 0.28 0.25 0.26 - 0.02 0.93 2.21 5.50 4.92 5.38 + 0.23 5.62 0.53 1.29 0.00 1.29 + 0.04 1.40 0.00 0.02 0.01 0.01 - 0.00 0.02 0.04 0.05 0.00 0.05 + 0.01 0.09 0.03 0.03 0.03 0.03 + 0.00 0.07 0.04 unch 0.00 0.15 0.08 0.05 0.05 1.55 1.80 1.66 1.70 - 0.06 3.49 1.15 1.34 1.21 1.30 - 0.04 2.73 1.59 1.90 1.77 1.90 + 0.01 2.40 0.04 0.05 0.05 0.05 - 0.01 0.12 0.03 0.04 0.04 0.04 + 0.00 0.10 0.15 0.15 0.15 - 0.03 0.18 0.07 0.23 0.18 0.20 - 0.02 0.25 0.10 0.10 0.07 0.10 - 0.00 0.14 0.07 0.14 0.12 0.14 + 0.01 0.19 0.09 0.02 0.10 0.09 0.10 - 0.01 0.12 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.00 0.00 0.02 unch 0.00 0.02 0.01 0.03 unch 0.00 0.22 0.00 0.00 0.19 0.06 0.11 0.11 0.11 - 0.01 0.14 0.04 unch 0.00 0.10 0.09 0.09 0.09 0.05 0.10 0.08 0.10 + 0.02 0.11 0.07 0.13 0.10 0.12 + 0.02 0.18 0.01 unch 0.00 0.06 0.03 0.03 0.03 0.01 0.05 0.03 0.04 + 0.01 0.05 0.02 unch 0.00 0.06 0.06 0.05 0.05 0.07 unch 0.00 0.21 0.20 0.20 0.20 0.07 0.27 0.22 0.25 - 0.02 0.28 2.43 5.33 4.64 5.31 + 0.54 5.15 1.83 4.01 3.50 4.00 + 0.41 4.01 2.20 6.06 5.05 5.97 + 0.54 6.39 2.85 8.03 6.70 7.84 + 0.70 8.38 0.02 unch 0.00 0.03 0.02 0.02 0.02 0.01 0.11 0.05 0.10 + 0.01 0.15 0.09 unch 0.00 0.20 0.16 0.16 0.16 0.12 0.23 0.18 0.21 + 0.03 0.28 0.04 0.13 0.12 0.12 - 0.01 0.18 0.03 0.06 0.06 0.06 + 0.01 0.24 0.10 unch 0.00 0.10 0.10 0.10 0.10 0.19 0.31 0.28 0.30 + 0.01 0.52 0.27 0.41 0.38 0.40 + 0.02 0.70 0.03 unch 0.00 0.08 0.06 0.05 0.05 0.02 0.04 0.04 0.04 - 0.01 0.06 0.18 0.21 0.18 0.20 + 0.00 0.44 0.24 unch 0.00 0.57 0.27 0.24 0.26 0.02 0.02 0.02 0.02 + 0.01 0.05 0.06 0.06 0.06 unch 0.00 0.13 0.06 0.00 0.09 0.07 0.09 + 0.01 0.25 0.07 unch 0.00 0.33 0.11 0.11 0.11 0.27 0.35 0.30 0.30 - 0.03 0.58 0.35 0.46 0.44 0.44 - 0.02 0.76 0.26 0.39 0.37 0.37 - 0.04 0.60 0.19 0.30 0.27 0.29 - 0.01 0.54 0.11 unch 0.00 0.27 0.20 0.20 0.20 0.05 0.05 0.05 unch 0.00 0.08 0.04 0.07 0.13 0.12 0.12 - 0.01 0.16 0.07 0.17 0.16 0.16 - 0.01 0.20 1.79 1.96 1.79 1.79 - 0.15 2.98 0.20 unch 0.00 0.47 0.25 0.25 0.25 0.27 0.45 0.44 0.44 + 0.07 0.62 29.01 30.65 29.44 29.55 - 0.36 45.98 0.08 0.18 0.15 0.18 - 0.00 0.20 0.11 0.24 0.21 0.24 - 0.01 0.27 0.10 0.12 0.11 0.11 - 0.02 0.18 0.12 0.10 0.12 + 0.01 0.13 0.05 0.11 0.08 0.09 - 0.02 0.11 0.03 0.02 unch 0.00 0.12 0.03 0.02 0.03 0.01 0.02 0.01 0.02 - 0.00 0.09 0.00 unch 0.00 0.08 0.02 0.01 0.02 0.02 unch 0.00 0.05 0.03 0.02 0.03 0.04 0.05 0.04 0.05 + 0.01 0.16 0.02 0.03 0.02 0.03 + 0.01 0.07 1.16 1.05 1.08 - 0.08 1.77 0.98 0.04 0.04 0.04 - 0.01 0.13 0.03 0.64 unch 0.00 1.43 0.90 0.85 0.88 16.73 14.89 16.70 + 1.11 17.56 8.11 10.71 22.21 19.76 22.18 + 1.51 23.42 0.02 0.03 0.02 0.03 + 0.01 0.03 0.04 unch 0.00 0.25 0.09 0.08 0.09 0.03 unch 0.00 0.17 0.06 0.06 0.06 0.03 unch 0.00 0.20 0.06 0.04 0.05 0.29 0.32 0.29 0.30 - 0.02 1.01 0.67 0.95 0.82 0.84 - 0.01 1.77 0.02 unch 0.00 0.20 0.06 0.06 0.06 0.02 0.09 0.03 0.03 - 0.06 0.11 0.01 0.07 0.01 0.02 - 0.05 0.08 0.18 0.23 0.20 0.21 + 0.02 0.38 0.14 0.15 0.15 0.15 - 0.00 0.29 0.02 0.07 0.03 0.04 + 0.01 0.30 0.07 0.10 0.09 0.10 - 0.03 0.16 0.33 0.30 0.30 - 0.02 0.40 0.09 0.01 unch 0.00 0.05 0.02 0.02 0.02 0.09 0.15 0.11 0.15 + 0.04 0.17 0.59 0.95 0.00 0.95 + 0.01 1.40 0.02 0.03 0.02 0.02 - 0.01 0.41 0.01 0.02 0.00 0.01 - 0.00 0.30 0.06 0.07 0.06 0.07 + 0.01 0.39 0.21 0.36 0.29 0.35 + 0.08 0.36 0.28 0.48 0.38 0.48 + 0.11 0.48 0.16 unch 0.00 0.70 0.55 0.55 0.55 0.02 unch 0.00 0.05 0.02 0.02 0.02 0.11 0.14 0.12 0.13 + 0.01 0.24 0.08 0.10 0.09 0.10 + 0.01 0.18 0.04 0.07 0.05 0.07 + 0.02 0.22 0.04 unch 0.00 0.17 0.04 0.04 0.04 0.01 unch 0.00 0.02 0.01 0.01 0.01 0.19 0.35 0.27 0.29 + 0.01 0.35 0.07 0.08 0.07 0.07 - 0.01 0.29 0.13 0.47 0.39 0.43 - 0.04 0.65 25.81 28.62 27.77 27.87 - 0.23 42.16 35.53 38.11 36.91 37.04 - 0.26 54.51 0.33 0.70 0.62 0.70 + 0.03 0.92 0.44 0.93 0.80 0.93 + 0.03 1.21 0.06 unch 0.00 0.10 0.06 0.06 0.06 0.01 0.01 0.01 0.01 - 0.01 0.03 0.05 0.03 0.03 unch 0.00 0.09 0.03 0.04 unch 0.00 0.12 0.05 0.05 0.05 0.02 0.06 0.04 0.04 - 0.01 0.12 0.03 0.07 0.00 0.06 + 0.01 0.16 0.00 0.00 0.00 0.00 + 0.00 0.02 0.47 0.50 0.47 0.48 - 0.00 2.01

2019-08-26 1:16 PM

GLOBAL MINING NEWS

(100s) Stock

THE NORTHERN MINER / SEPTEMBER 2–15, 2019

Week

12-month

Exc Volume High Low Last Change High Low

T Taiga Gold* O 52 Taiga Gold 126 Tajiri Res V 1257 Taku Gold* O 17 Taku Gold 110 Talisker Res* O 31 Talisker Res 889 Talmora Diamd 21 Talon Metals T 343 Tamerlane Vent* O 25 Tamino Mnrls* O 105216 Tango Mining V 806 Tanqueray Expl V 236 Tantalex Res 940 Tanzanian Gold T 87 Tanzanian Gold* X 1084 Taranis Res V 140 Taranis Res* O 109 Tarku Res V 280 Tartisan Nick* O 50 Tartisan Nick 492 Taseko Mines T 827 Taseko Mines* X 2074 Tearlach Res V 2 T 5952 Teck Res Teck Res* N 10432 T 4 Teck Res Telson Res * O 41 Telson Res V 547 Tembo Gold V 1118 Tembo Gold* O 58 Teranga Gold T 1473 Teranga Gold* O 142 Teras Res V 117 Terraco Gold V 9190 Terrax Mnrls* O 57 Terrax Mnrls V 492 Terreno Res V 440 Teslin Rvr Res V 1164 Tesoro Mnrls V 55 Tethyan Res V 303 Teuton Res V 465 Teuton Res* O 157 O 445 Texas Mineral* Themac Res V 30 Thor Expl V 36 Thunder Mtn Gd* O 19 Thunderstruck V 45 Thunderstruck* O 46 Till Capital V 0 V 283 Timberline Res Timberline Res* O 782 Tinka Res V 733 Tinka Res* O 159 Tintina Mines V 50 Tisdale Res V 2 Titan Mining T 78 Titanium Corp V 91 TMAC Resource* O 117 TMAC Resources T 742 TNR Gold V 210 28 Toachi Mg Inc* O Toachi Mg Inc V 189 Tocvan Venture 125 Tombstone Expl* O 11 Tonogold Res* O 284 Torex Gold* O 321 Torex Gold T 1904 Torq Resources* O 52 V 245 Torq Resources Tower Res* O 72

0.06 0.05 0.06 + 0.00 0.11 0.04 0.08 0.08 0.08 - 0.01 0.14 0.06 0.05 0.04 0.04 + 0.01 0.12 0.03 0.06 0.05 0.05 - 0.01 0.12 0.02 0.08 0.07 0.07 - 0.01 0.15 0.03 0.15 0.11 0.13 + 0.03 0.12 0.00 0.22 0.16 0.18 + 0.02 0.22 0.08 0.03 0.00 0.03 - 0.01 0.06 0.01 0.20 0.18 0.20 + 0.03 0.25 0.07 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.00 0.00 0.00 - 0.00 0.00 0.00 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.67 0.63 0.65 + 0.02 1.02 0.53 0.03 0.02 0.03 unch 0.00 0.10 0.02 1.17 1.08 1.16 + 0.06 1.56 0.34 0.88 0.82 0.87 + 0.04 1.20 0.25 0.08 0.06 0.08 + 0.01 0.12 0.05 0.06 0.05 0.06 + 0.00 0.09 0.03 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.03 0.03 0.03 unch 0.00 0.06 0.02 0.04 0.00 0.04 - 0.01 0.08 0.02 0.57 0.52 0.52 - 0.03 1.09 0.52 0.43 0.40 0.40 - 0.02 0.85 0.39 0.15 0.15 0.15 unch 0.00 0.28 0.03 22.43 21.50 21.57 - 0.38 34.31 21.69 16.90 16.18 16.23 - 0.32 25.82 16.18 22.65 21.80 22.35 + 0.25 34.00 21.81 0.15 0.14 0.15 - 0.05 0.46 0.14 0.25 0.17 0.22 + 0.02 0.63 0.17 0.03 0.02 0.03 unch 0.00 0.04 0.01 0.02 0.01 0.02 - 0.00 0.03 0.01 5.57 4.79 5.49 + 0.34 5.66 2.97 4.17 3.65 4.13 + 0.22 4.26 2.23 0.06 0.04 0.04 - 0.02 0.12 0.04 0.15 0.15 0.15 unch 0.00 0.16 0.06 0.27 0.25 0.27 + 0.01 0.36 0.25 0.37 0.34 0.36 + 0.01 0.50 0.33 0.02 0.02 0.02 unch 0.00 0.05 0.02 0.48 0.43 0.43 - 0.03 0.60 0.37 0.05 0.05 0.05 - 0.02 0.07 0.05 0.42 0.34 0.42 + 0.08 0.85 0.14 0.65 0.55 0.61 + 0.03 0.65 0.10 0.49 0.40 0.46 + 0.02 0.49 0.07 0.43 0.40 0.41 - 0.02 0.57 0.12 0.06 0.06 0.06 unch 0.00 0.09 0.03 0.16 0.14 0.15 - 0.02 0.19 0.13 0.09 0.07 0.09 + 0.03 0.13 0.03 0.05 0.04 0.04 unch 0.00 0.11 0.04 0.04 0.03 0.03 - 0.00 0.08 0.03 0.00 0.00 2.06 unch 0.00 2.56 1.45 0.13 0.11 0.11 - 0.01 0.16 0.07 0.10 0.07 0.08 - 0.01 0.13 0.00 0.20 0.18 0.19 + 0.02 0.42 0.15 0.15 0.13 0.13 + 0.01 0.33 0.11 0.04 0.04 0.04 unch 0.00 0.08 0.02 0.14 0.13 0.13 unch 0.00 0.38 0.10 0.41 0.39 0.40 unch 0.00 1.40 0.31 0.72 0.62 0.67 + 0.02 1.20 0.47 4.18 4.03 4.03 - 0.23 5.29 2.71 5.63 5.26 5.50 - 0.10 7.06 3.57 0.03 0.03 0.03 + 0.01 0.05 0.02 0.05 0.05 0.05 - 0.00 0.08 0.02 0.07 0.06 0.06 - 0.01 0.12 0.04 0.08 0.08 0.08 unch 0.00 0.12 0.07 1.70 1.05 1.50 - 0.20 3.80 0.12 0.24 0.17 0.21 - 0.04 0.25 0.00 15.73 13.97 15.46 + 1.10 15.73 6.33 20.92 18.53 20.60 + 1.50 20.23 8.31 0.31 0.28 0.29 - 0.03 0.41 0.25 0.41 0.38 0.39 - 0.04 0.54 0.32 0.05 0.03 0.03 + 0.00 0.05 0.01

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Tower Res V 238 Transatlantic V 247 Transition Met V 382 O 50 Transition Met* Treasury Metal T 807 Treasury Metal* O 20 Trecora Res* N 128 Tres-Or Res* O 77 Tres-Or Res V 95 Trevali Mng* O 113 Trevali Mng T 3072 Tri Origin Exp V 129 Trifecta Gold V 272 Trifecta Gold* O 49 Trilogy Mtls T 294 Trilogy Mtls* X 2732 TriMetals Mng* O 130 TriMetals Mng T 281 Trinity Res* O 1 Trinity Valley V 205 Trio Resources* O 1833 TriStar Gold* O 289 TriStar Gold V 266 Triumph Gold V 260 Triumph Gold* O 482 Troilus Gold T 1456 Troilus Gold* O 29 V 95 Troubadour Res Troy Res* O 3 True Grit Res V 471 4 True North Gem* O True North Gem V 15 Tsodilo Res V 3132 Tudor Gold * O 185 Tudor Gold V 721 Turquoise HIl T 4124 54504 Turquoise HIl* N TVI Pacific* O 168 TVI Pacific V 463 Tyhee Gold* O 5300 Typhoon Expl V 20

0.06 0.04 0.05 - 0.01 0.08 0.02 0.03 0.00 0.03 unch 0.00 0.16 0.02 0.21 0.18 0.18 + 0.01 0.23 0.06 0.14 0.14 0.14 - 0.02 0.17 0.07 0.38 0.33 0.37 + 0.02 0.42 0.21 0.28 0.26 0.27 - 0.01 0.32 0.15 8.99 8.68 8.70 + 0.06 14.45 6.69 0.13 0.10 0.13 unch 0.00 0.15 0.01 0.17 0.14 0.15 - 0.02 0.35 0.13 0.15 0.14 0.14 - 0.00 0.63 0.14 0.20 0.18 0.19 - 0.01 0.82 0.18 0.02 0.02 0.02 unch 0.00 0.04 0.01 0.04 0.04 0.04 + 0.01 0.09 0.03 0.03 0.03 0.03 unch 0.00 0.06 0.02 2.62 2.00 2.40 + 0.19 4.10 2.00 1.98 1.50 1.79 + 0.12 3.13 1.48 0.04 0.03 0.03 + 0.00 0.08 0.02 0.05 0.05 0.05 unch 0.00 0.10 0.03 0.01 0.01 0.01 unch 0.00 0.20 0.01 0.13 0.11 0.13 - 0.01 0.15 0.04 0.00 0.00 0.00 unch 0.00 0.01 0.00 0.17 0.15 0.16 + 0.00 0.17 0.07 0.22 0.20 0.22 + 0.01 0.25 0.09 0.51 0.41 0.45 + 0.03 0.80 0.31 0.39 0.30 0.34 + 0.02 0.60 0.23 0.76 0.68 0.71 - 0.02 1.20 0.40 0.58 0.51 0.53 - 0.02 0.93 0.40 0.06 0.06 0.06 unch 0.00 0.25 0.05 0.07 0.07 0.07 unch 0.00 0.10 0.06 0.02 0.01 0.02 + 0.01 0.04 0.01 0.10 0.06 0.09 - 0.00 0.14 0.00 0.12 0.00 0.12 + 0.02 1.00 0.05 0.17 0.12 0.17 + 0.05 0.52 0.11 0.56 0.50 0.52 - 0.03 0.81 0.15 0.74 0.66 0.69 - 0.04 1.07 0.20 0.72 0.57 0.63 unch 0.00 3.28 0.57 0.55 0.43 0.48 + 0.01 2.51 0.43 0.01 0.01 0.01 + 0.00 0.01 0.00 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.00 0.00 0.00 unch 0.00 0.00 0.00 0.03 0.03 0.03 - 0.01 0.05 0.02

U.S. Gold* D 302 U.S. Lithium* O 10 U3O8 Corp* O 47 U3O8 Corp T 33 Ubique Mineral 1 UC Res* O 71 Ucore Rare Mtl V 184 Ucore Rare Mtl* O 363 UEX Corp T 690 Ultra Lithium* O 3 Ultra Lithium V 21 O 174 Umbral Enrgy* Unigold* O 5 Unigold V 9 United Battery* O 197 United Battery 404 United Res Hdg* O 226 United States A* X 149 United States S* N 52629 Universal Cop V 857 Universal Vent V 1441 Ur-Energy T 236 Ur-Energy* X 1783 Uragold Bay Rs V 770 Uranium Energy* X 4571 O 2 Uranium Hunter* Uranium Res* D 384 UrbanGold Min V 510 USCorp* O 102

1.00 0.96 0.98 - 0.02 1.53 0.74 0.26 0.22 0.22 - 0.04 0.96 0.09 0.10 0.00 0.10 + 0.02 0.29 0.07 0.13 0.00 0.13 + 0.02 0.34 0.10 0.00 0.00 0.07 unch 0.00 0.25 0.05 0.50 0.45 0.48 + 0.01 1.27 0.00 0.19 0.17 0.19 + 0.01 0.34 0.09 0.15 0.13 0.14 + 0.00 0.25 0.07 0.15 0.14 0.15 + 0.01 0.23 0.14 0.06 0.06 0.06 unch 0.00 0.17 0.05 0.09 0.08 0.09 + 0.01 0.22 0.08 0.32 0.30 0.30 - 0.03 0.54 0.11 0.10 0.10 0.10 unch 0.00 0.14 0.07 0.15 0.14 0.15 + 0.01 0.20 0.09 0.03 0.01 0.03 + 0.00 1.58 0.01 0.04 0.03 0.04 + 0.01 1.68 0.02 0.09 0.05 0.08 - 0.01 0.09 0.01 0.71 0.64 0.65 - 0.00 1.05 0.42 12.50 11.08 11.18 - 0.10 31.39 10.85 0.06 0.05 0.05 - 0.01 0.17 0.05 0.40 0.35 0.38 + 0.01 0.58 0.28 0.79 0.71 0.72 + 0.02 1.30 0.70 0.60 0.53 0.55 + 0.01 0.99 0.50 0.10 0.09 0.10 unch 0.00 0.12 0.06 0.97 0.86 0.88 + 0.01 1.80 0.83 2.01 1.45 1.45 + 0.45 3.50 0.51 3.38 2.84 2.84 - 0.25 16.00 2.80 0.15 0.13 0.14 - 0.01 0.17 0.10 0.00 0.00 0.00 - 0.00 0.01 0.00

U-V

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

Val-d’Or Mg V 30 Vale* N 101215 Valley High Mg* O 3484 O 28 ValOre Metals* ValOre Metals V 204 Valterra Res* O 577 Valterra Res V 694 Vanadian Enrgy* O 120 Vanadian Enrgy V 45 O 50 Vanadium One* Vanadium One V 224 Vanadiumcorp* O 114 Vanadiumcorp V 197 Vangold Res* O 0 Vanstar Mng Rs* O 344 Vanstar Mng Rs V 791 Vantex Res * O 0 Vantex Res V 0 Vela Minerals V 1861 Velocity Mnrls* O 50 Velocity Mnrls V 169 Vendetta Mng V 644 Vendetta Mng* O 73 Venerable Vent V 40 Venture Mnrls* O 20 Verde Potash T 123 Verde Res* O 310 Veris Gold* O 47 Vertical Expl* O 8 Vertical Expl V 35 Victoria Gold V 3884 Victory Metals V 184 Victory Metals* O 133 Victory Nickel 105 Victory Nickel* O 153 Victory Res 10 O 50 Virginia Enrgy* Virginia Enrgy V 144 Viscount Mng V 178 Visible Gold M V 160 16 Visible Gold M* O O 64 Vision Lithium* Vision Lithium V 101 Vista Gold* X 1491 Vista Gold T 51 Viva Gold* O 84 Viva Gold V 89 Vizsla Res V 139 Volcanic Gold V 8 Volcanic Gold* O 4 Voyageur Min* O 82 Voyageur Min V 41 VR Resources* O 114 V 188 VR Resources Vulcan Mnrls V 83 VVC Expl V 40

0.09 0.09 0.09 unch 0.00 0.14 0.08 11.05 10.39 10.46 - 0.42 16.13 10.39 0.00 0.00 0.00 - 0.00 0.01 0.00 0.21 0.20 0.21 + 0.01 0.42 0.00 0.27 0.24 0.26 + 0.01 0.58 0.11 0.03 0.02 0.02 - 0.00 0.03 0.01 0.04 0.03 0.04 + 0.01 0.04 0.02 0.03 0.02 0.02 - 0.00 0.13 0.01 0.04 0.03 0.03 - 0.01 0.18 0.03 0.05 0.05 0.05 + 0.00 0.21 0.04 0.08 0.06 0.07 - 0.01 0.29 0.06 0.05 0.04 0.04 - 0.00 0.12 0.03 0.06 0.00 0.05 - 0.01 0.14 0.05 0.00 0.00 0.02 unch 0.00 0.05 0.01 0.16 0.14 0.15 - 0.01 0.19 0.07 0.21 0.19 0.19 - 0.02 0.36 0.08 0.00 0.00 0.12 unch 0.00 0.22 0.12 0.00 0.00 0.28 unch 0.00 0.40 0.14 0.15 0.13 0.15 + 0.01 0.27 0.11 0.35 0.35 0.35 - 0.03 0.44 0.11 0.48 0.46 0.47 - 0.01 0.58 0.14 0.07 0.06 0.07 - 0.01 0.20 0.06 0.06 0.04 0.05 - 0.01 0.16 0.05 0.07 0.07 0.07 unch 0.00 0.13 0.06 0.01 0.01 0.01 unch 0.00 0.02 0.01 0.77 0.70 0.75 + 0.02 0.92 0.50 0.02 0.01 0.01 - 0.01 0.10 0.00 0.00 0.00 0.00 + 0.00 0.00 0.00 0.02 0.02 0.02 unch 0.00 0.09 0.02 0.04 0.04 0.04 - 0.01 0.11 0.03 0.56 0.50 0.55 + 0.02 0.56 0.31 0.60 0.52 0.60 + 0.10 0.77 0.38 0.54 0.38 0.45 + 0.04 0.57 0.37 0.03 0.00 0.02 + 0.01 0.05 0.01 0.02 0.01 0.01 - 0.01 0.03 0.01 0.02 0.02 0.02 - 0.02 0.12 0.01 0.05 0.00 0.05 + 0.00 0.28 0.05 0.07 0.06 0.07 + 0.01 0.37 0.06 0.26 0.22 0.24 - 0.03 0.31 0.15 0.09 0.00 0.08 - 0.01 0.11 0.04 0.05 0.05 0.05 unch 0.00 0.06 0.03 0.04 0.04 0.04 unch 0.00 0.21 0.03 0.05 0.04 0.05 unch 0.00 0.30 0.04 0.95 0.81 0.92 + 0.05 1.05 0.37 1.25 1.06 1.20 + 0.05 1.39 0.56 0.20 0.20 0.20 + 0.00 0.32 0.20 0.26 0.25 0.26 - 0.01 0.45 0.25 0.25 0.22 0.25 + 0.03 0.25 0.13 0.29 0.29 0.29 unch 0.00 0.81 0.14 0.23 0.23 0.23 unch 0.00 0.48 0.14 0.05 0.04 0.04 - 0.01 0.10 0.04 0.07 0.00 0.06 - 0.01 0.12 0.05 0.25 0.19 0.20 + 0.00 0.26 0.09 0.29 0.25 0.28 unch 0.00 0.32 0.12 0.04 0.00 0.03 unch 0.00 0.06 0.03 0.03 0.03 0.03 - 0.01 0.05 0.02

WAI Cap Invest* O 0 Walker Lane* O 182 Walker River* O 82 Walker River V 1552 Wallbridge Mng T 1665 Warrior Gold* O 45 Warrior Gold V 225 Waseco Res V 422 Wealth Mnrls V 202 Wealth Mnrls* O 248 Wescan Gldflds V 10 Wesdome Gold* O 496 T 3623 Wesdome Gold 57 West High Yld V

0.00 0.00 0.00 unch 0.00 0.00 0.00 0.29 0.14 0.20 - 0.00 0.40 0.05 0.12 0.10 0.10 - 0.01 0.19 0.08 0.16 0.14 0.14 - 0.01 0.27 0.05 0.43 0.41 0.42 - 0.01 0.49 0.09 0.07 0.06 0.06 unch 0.00 0.09 0.03 0.07 0.06 0.06 - 0.02 0.12 0.04 0.04 0.02 0.04 + 0.02 0.05 0.02 0.38 0.35 0.37 unch 0.00 0.85 0.31 0.31 0.26 0.28 + 0.00 0.64 0.22 0.04 0.04 0.04 unch 0.00 0.11 0.03 5.62 4.86 5.50 + 0.33 5.78 2.00 7.48 6.48 7.33 + 0.45 7.45 3.17 0.20 0.16 0.16 - 0.04 0.60 0.16

W-Z

(100s) Stock

Week

12-month

Exc Volume High Low Last Change High Low

West Kirkland V 775 38 West Kirkland * O West Red Lake 331 West Red Lake* O 166 Western Areas* O 9 Western Atlas V 119 Western Copper T 259 Western Copper* X 431 Western Mag V 467 Western Mag* O 205 Western Pac Rs* O 1 Western Pac Rs V 1 Western Potash T 184 Western Res* O 1 Western U&V 32 O 57 Western U&V* Westgold Res* O 3 Westhaven Vent* O 50 Westhaven Vent V 322 Westkam Gold* O 224 Westkam Gold V 1423 V 46 Westminster Rs Westminster Rs* O 0 Westmoreland* O 73 Wheaton Prec M T 4019 Wheaton Prec M* N 15114 White Gold V 916 White Gold* O 163 62 White Metal R* O White Metal Rs V 339 White Mtn Engy* O 930 V 8 Whitemud Res Wildsky Res* O 0 Wildsky Res V 22 Winston Gold* O 394 Winston Gold 464 Winston Res 266 Winston Res* O 0 Wolfden Res* O 68 Wolfden Res V 355 Wolfeye Res V 96 Worldwide Res* O 3 V 3 Worldwide Res X-Terra Res V 162 X-Terra Res* O 26 Xanadu Mines T 13 Xiana Mng V 8 Ximen Mining V 203 51 Ximen Mining* O Xtierra Inc V 103 Xtra-Gold Res* O 117 T 103 Xtra-Gold Res Yamana Gold T 14926 Yamana Gold* N 79641 O 3 Yanzhou Coal* Yorbeau Res T 173 Zadar Ventures V 25 Zanzibar Gold 66 Zara Res* O 684 ZEN Graphene* O 8 V 384 ZEN Graphene Zena Mining V 1 Zenith Explor 2 Zephyr Mnls* O 60 Zephyr Mnls V 54 Zimtu Capital V 41 Zinc One Res V 274 Zinc One Res * O 27 ZincX Res V 231 ZincX Res* O 23 Zonte Metals V 91 O 48 Zonte Metals*

0.08 0.06 0.08 + 0.01 0.09 0.03 0.06 0.00 0.05 - 0.00 0.07 0.02 0.08 0.06 0.07 - 0.01 0.12 0.05 0.06 0.04 0.06 + 0.00 0.09 0.03 1.74 1.62 1.62 - 0.12 2.00 1.27 0.07 0.05 0.07 unch 0.00 0.12 0.05 1.01 0.90 0.95 + 0.03 1.08 0.52 0.76 0.68 0.71 + 0.02 0.83 0.35 0.22 0.19 0.20 unch 0.00 0.35 0.03 0.17 0.14 0.15 - 0.01 0.43 0.02 0.23 0.23 0.23 unch 0.00 0.62 0.01 0.00 0.00 0.35 unch 0.00 1.08 0.27 0.30 0.25 0.26 unch 0.00 0.55 0.11 0.20 0.20 0.20 - 0.00 0.41 0.08 0.97 0.80 0.89 - 0.06 3.32 0.80 0.72 0.61 0.67 - 0.05 2.70 0.61 1.37 1.37 1.37 unch 0.00 1.60 0.60 0.68 0.62 0.68 + 0.05 1.03 0.12 0.92 0.82 0.92 + 0.12 1.43 0.15 0.01 0.00 0.01 + 0.00 0.02 0.00 0.01 0.01 0.01 + 0.00 0.02 0.01 0.03 0.03 0.03 unch 0.00 0.10 0.03 0.00 0.00 0.01 unch 0.00 0.07 0.01 0.01 0.00 0.01 + 0.00 0.17 0.01 38.20 34.45 38.19 + 3.04 37.29 19.87 28.74 25.97 28.73 + 2.24 28.74 15.08 1.16 1.00 1.16 + 0.13 2.00 0.54 0.87 0.76 0.86 + 0.11 1.44 0.46 0.04 0.04 0.04 unch 0.00 0.13 0.02 0.06 0.05 0.05 - 0.01 0.17 0.04 0.03 0.02 0.02 - 0.00 0.05 0.00 0.01 0.01 0.01 unch 0.00 0.03 0.01 0.00 0.00 0.06 unch 0.00 0.77 0.05 0.08 0.08 0.08 unch 0.00 1.01 0.06 0.05 0.04 0.05 + 0.01 0.07 0.02 0.07 0.06 0.07 + 0.02 0.07 0.03 0.04 0.03 0.03 unch 0.00 0.08 0.02 0.00 0.00 0.55 unch 0.00 0.08 0.07 0.08 - 0.00 0.24 0.07 0.12 0.11 0.11 - 0.01 0.33 0.11 0.64 0.60 0.60 - 0.04 0.93 0.50 0.04 0.04 0.04 unch 0.00 0.03 0.03 0.04 0.04 0.04 unch 0.00 0.07 0.02 0.09 0.08 0.08 - 0.01 0.17 0.07 0.07 0.00 0.07 unch 0.00 0.10 0.07 0.06 0.05 0.06 + 0.01 0.17 0.04 0.44 0.44 0.44 + 0.06 0.61 0.31 0.53 0.45 0.49 - 0.05 0.86 0.14 0.40 0.36 0.36 - 0.05 10.27 0.11 0.07 0.06 0.07 unch 0.00 0.08 0.03 0.32 0.30 0.30 unch 0.00 0.45 0.17 0.43 0.39 0.40 + 0.01 0.47 0.23 4.86 4.23 4.83 + 0.41 4.98 2.41 3.65 3.19 3.62 + 0.28 3.74 1.78 0.81 0.81 0.81 unch 0.00 1.22 0.81 0.03 0.03 0.03 unch 0.00 0.05 0.02 0.11 0.11 0.11 unch 0.00 0.65 0.08 0.15 0.12 0.14 - 0.01 0.32 0.10 0.14 0.10 0.12 + 0.01 0.63 0.04 0.24 0.23 0.24 + 0.01 0.47 0.21 0.33 0.29 0.33 + 0.04 0.63 0.28 0.00 0.00 0.07 unch 0.00 0.09 0.04 0.14 0.14 0.14 unch 0.00 0.20 0.04 0.25 0.00 0.24 + 0.02 0.54 0.11 0.33 0.30 0.32 + 0.01 0.34 0.15 0.19 0.17 0.17 - 0.01 0.35 0.17 0.03 0.02 0.02 unch 0.00 0.16 0.02 0.02 0.01 0.02 - 0.01 0.12 0.01 0.14 0.13 0.13 - 0.01 0.48 0.11 0.10 0.10 0.10 + 0.01 0.36 0.09 0.25 0.24 0.24 - 0.02 0.41 0.22 0.18 0.18 0.18 unch 0.00 0.30 0.16

BID-ASK — AUGUST 19–23, 2019 STOCK

12-MONTH

EXC BID ASK LAST HIGH

12 Exploration Abacus Mining African Metals Aguila Amer Gd Alba Minerals Alchemist Mng Alexandra Cap Alexco Res Allante Res Altan Rio Min Alturas Min American CuMo American Uran Amseco Expl Anconia Res Anglo-Bomarc Angus Ventures Antler Gold Antler Hill Archon Mineral Arcturus Vent Arrowstar Res Asbestos Corp Asian Mineral Astorius Res Atlanta Gold Atlantic Indus Aurelius Min Awale Res Banro Corp* Bard Ventures Barker Min Bearclaw Cap BHK Mining Bird River Res Black Bull Res Boss Power Brigadier Gold Broadway Gold Brunswick Res Buffalo Coal Bullion Gold Cadillac Vent Cairo Res Calibre Mng Camrova Res Canadian Silv Candelaria Mg Canex Energy Caracara Silvr Cassius Vents CAT Strategic Central Iron Cerro de Pasc Cerro Mng Chinapintza Mg Cicada Vents CIM Intl Grp Clarmin Explor Cliffmont Res Cliffs Nat Res* Clydesdale Res CMX Gold & Sil Colombia Crest Contintl Prec Cyntar Venture Cyprium Mng EastCoal Inc Edgewater Expl Electra Stone Empire Metals Empress Res Endurance Gold ePower Metals Everton Res Evolving Gold Excalibur Res Fabled Copper Fengro Industr Fieldex Expl Finlay Minrls Finore Mng Fire River Gol First Mexican Five Star Diam Freedom Egy Freeport Res Full Metal Mnl Fusion Gold

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

20-23_SEPT2_StockTables.indd 23

0.23 0.25 0.25 0.25 0.05 0.06 0.05 0.19 0.06 0.09 0.06 0.17 0.25 0.18 0.28 0.15 0.16 0.16 0.28 0.07 0.07 0.06 0.08 ... ... 0.50 0.93 2.33 2.40 2.33 2.55 0.25 0.35 0.16 0.20 0.01 0.02 0.01 0.02 0.01 0.01 0.01 0.02 0.06 0.07 0.06 0.10 0.06 0.25 0.06 0.07 0.05 0.08 0.05 0.29 0.01 0.01 0.01 0.02 0.08 0.08 0.15 ... ... 0.29 0.42 0.10 0.15 0.15 0.20 0.10 0.10 0.10 0.10 0.45 0.55 0.52 0.68 0.01 1.00 0.08 0.15 0.10 0.12 0.12 0.40 5.00 0.45 0.55 0.16 0.20 0.19 2.00 0.14 0.20 0.17 0.50 0.03 0.04 0.03 0.05 0.01 0.02 0.02 0.02 0.13 0.14 0.14 0.15 0.08 0.12 0.11 0.13 0.11 0.11 0.11 2.10 0.14 0.18 0.14 1.63 0.01 0.01 0.01 0.02 0.02 0.04 0.03 0.05 0.02 0.02 0.02 0.01 0.02 0.02 0.10 0.10 0.18 0.10 0.17 0.20 0.17 0.14 0.14 0.15 0.25 0.08 0.08 0.08 0.15 0.03 0.03 0.03 0.04 0.01 0.01 0.01 0.02 0.06 0.15 0.10 0.47 0.02 0.02 0.02 0.04 0.26 0.35 0.30 0.39 0.68 0.68 0.58 0.75 0.05 0.05 0.07 0.09 0.01 0.06 0.06 0.19 0.25 0.25 0.69 ... ... 0.17 0.17 ... 0.11 0.11 0.06 0.09 0.06 0.08 0.04 0.07 0.04 0.15 0.02 0.02 0.02 0.05 ... ... 0.29 0.34 0.26 0.45 0.26 0.42 0.02 0.10 0.02 0.03 0.01 0.01 0.01 0.02 0.19 0.50 0.19 0.63 0.10 0.15 0.10 0.20 0.11 0.15 0.11 0.60 1.45 3.20 1.43 7.17 0.03 0.04 0.04 0.08 0.03 0.05 0.05 0.08 0.15 0.30 0.19 0.30 0.36 0.36 0.30 0.41 0.10 ... 0.11 0.15 0.03 0.03 0.03 0.07 0.15 0.07 0.13 0.12 0.14 0.12 0.16 0.01 0.02 0.01 0.13 0.19 0.14 0.23 0.04 0.04 0.04 0.13 0.03 0.04 0.03 0.07 0.32 0.32 0.15 0.31 0.03 0.03 0.03 0.04 0.08 0.08 0.08 0.09 0.09 0.10 0.10 0.11 0.05 0.08 0.08 0.09 0.02 0.03 0.02 0.12 0.10 0.19 0.19 0.04 0.05 0.04 0.06 0.12 0.12 0.11 0.03 0.07 0.09 0.01 0.01 0.01 0.06 0.05 0.05 0.07 0.10 0.02 0.02 0.01 0.06 0.06 0.07 0.09 0.11 0.01 0.01 0.10 0.12 0.24 0.17 0.30

LOW

STOCK

0.20 0.04

Galore Res Gem Intl Res Generic Gold Gentor Res GFM Res GK Resources Glacier Lake Global Cop Grp Global Vanad God’s Lake Res Goldbank Mng Goldbelt Emp Golden Lake Golden Pursuit Goldstar Mnls Goldstream Mnl Graphite Egy Gray Rock Res Great Lakes Gr Great Quest Fe Green Arrow Green Valley M Grenville Gold Grizzly Discvr Harfang Explor Helio Res HFX Holding Highbury Proj Highvista Gold Hornby Bay Mnl Hybrid Mineral Infinite Lith Inomin Mines Inspiration Mg Intact Gold Interconnect Intercontinent Intl Battery Intl Corona Intl Millm Mng Iron South Mng Jasper Mining Jazz Res JDF Explor Inc Jubilee Gold Kal Minerals Karam Min Karoo Expl Kenna Res Kesselrun Res Kings Bay Res Knick Expl Kootenay Zinc La Imperial Latin American Latin Metals Latin Metals Le Mare Gold Leo Res Lithion Energy Lithium Energy Lovitt Res Lund Enterpr M.P.V. Explor Madeira Mrnls MAG Silver* Magnitude Mng Manado Gold Mariner Res Martina Mnls Meadow Bay Gd Mega Copper Meridius Res Mesa Expl Micrex Dev MillenMin Vent Millstream Min Milner Con Slv Minecorp Egy Mineral Hill Minfocus Expl Minnova Corp Minsud Res Monster Uran Montana Gold Montego Res Mountain Lake MX Gold Nebu Res

0.17 0.04 0.04 0.25 0.92 0.10 0.01 0.01 0.05 0.06 0.01 0.01 0.15 0.05 0.10 0.48 0.05 0.33 0.10 0.15 0.03 0.01 0.03 0.06 0.10 0.14 0.01 0.03 0.01 0.05 0.06 0.02 0.01 0.09 0.01 0.24 0.30 0.06 0.15 0.11 0.04 0.04 0.02 0.12 0.26 0.01 0.01 0.19 0.10 0.05 0.98 0.02 0.03 0.11 0.30 0.07 0.05 0.06 0.12 0.03 0.03 0.15 0.02 0.07 0.01 0.04 0.02 0.02 0.01 0.05 0.01 0.06 0.11

12-MONTH

EXC BID ASK LAST HIGH LOW

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

0.03 0.03 0.03 0.05 0.01 0.02 0.02 ... 3.00 0.06 0.30 0.06 0.07 0.07 0.10 0.05 0.10 0.05 0.05 0.21 0.26 0.24 0.30 0.07 0.08 0.07 0.35 0.07 0.08 0.08 0.11 0.17 0.24 0.24 0.28 5.50 5.95 5.50 5.75 0.08 0.15 0.11 0.17 0.01 0.03 0.02 0.12 ... 0.14 0.14 0.08 0.11 0.07 0.13 0.04 0.05 0.05 0.12 0.02 0.06 0.05 0.09 ... 1.25 0.47 1.35 0.07 0.07 0.07 0.15 0.05 0.05 0.04 0.06 0.10 0.10 0.10 0.14 0.02 0.03 0.02 0.04 0.10 0.20 0.11 2.00 0.15 0.25 0.17 0.70 0.04 0.05 0.04 0.15 0.25 0.27 0.27 0.32 0.03 0.07 0.06 0.10 0.05 ... 0.05 0.06 0.25 0.69 0.24 0.25 ... ... 0.17 0.02 0.03 0.02 0.05 0.03 0.04 0.04 0.23 0.26 0.29 0.28 0.32 0.03 0.04 0.03 0.06 0.04 0.04 0.03 0.04 0.04 0.06 0.05 0.16 0.06 0.09 0.06 0.08 0.23 0.25 0.26 0.50 ... ... 0.31 ... 0.04 0.04 0.05 0.01 0.01 0.03 0.24 0.27 0.24 0.28 ... 0.10 0.09 0.29 0.05 0.06 0.06 0.06 0.05 ... 0.04 0.05 0.44 0.59 0.54 0.64 ... 0.20 0.25 0.25 0.05 0.13 0.12 0.15 ... 0.45 0.35 1.70 0.13 0.16 0.15 0.04 0.05 0.04 0.07 0.04 0.04 0.04 0.06 0.01 0.01 0.01 0.02 0.08 0.10 0.08 0.29 0.02 0.26 0.04 0.07 0.01 0.02 0.02 0.03 0.13 0.14 0.14 0.40 0.03 0.04 0.03 0.16 0.05 0.05 0.06 0.18 ... ... 1.09 ... ... 0.10 0.01 0.01 0.10 0.31 0.08 0.13 0.10 0.01 0.23 0.13 0.25 0.11 0.14 0.12 0.18 ... ... 0.03 0.04 12.52 13.30 12.52 14.40 0.13 0.20 0.15 0.20 0.01 0.01 0.05 0.05 0.16 ... 0.18 0.20 0.05 0.12 0.12 0.12 0.04 0.04 0.04 0.06 0.12 0.20 0.16 0.18 0.16 ... 0.15 0.22 0.02 0.08 0.06 0.02 0.02 0.01 0.01 0.50 0.05 0.04 0.06 0.04 0.05 0.07 0.05 0.11 ... ... 0.12 0.20 0.01 0.15 0.15 0.20 0.04 0.05 0.04 0.09 0.11 0.13 0.12 0.79 0.06 0.10 0.06 0.09 0.07 0.33 0.08 0.32 0.09 0.10 0.10 0.10 0.01 0.01 0.05 0.29 ... ... 0.05 0.11 0.11 0.11 0.04 0.04 0.04

0.01 0.03 0.05 0.04 0.15 0.07 0.04 0.16 1.51 0.07 0.12 0.02 0.03 0.04 0.02 0.05 0.02 0.06 0.02 0.06 0.12 0.04 0.18 0.05 0.05 0.17 0.02 0.04 0.12 0.02 0.02 0.05 0.04 0.09 0.03 0.04 0.08 0.03 0.01 0.54 0.12 0.05 0.35 0.03 0.03 0.01 0.05 0.04 0.01 0.08 0.02 0.03 0.09 0.13 0.06 0.02 6.12 0.14 0.04 0.15 0.04 0.03 0.16 0.09

0.02 0.07 0.09 0.03 0.09 0.01 0.08 0.02 0.03

STOCK

New Jersey Mng New Klondike New Stratus New World Res Newlox Gold Nickel North Nippon Dragon Nitinat Mnls Nortec Mnls Northern Uran Nubian Res Odyssey Res Oriental Non F Pac Arc Res Pac Bay Mnrls Pac Cascade Pac Imperial Pac Iron Ore Patriot Gold Pershimex Res Philippine Mtl Phoenix Gold Pinecrest Res Plate Res Platinex Inc Primary Energy Prism Res ProAm Expl Project One Provenance Gld Quantum Cobalt Rare Element* Razore Rock Res Regency Gold Reliant Gold Remington Res Richmond Mnls Riley Resource Rizal Res Rockland Mnls Rojo Res Ross River Roughrider Exp Rover Metals Rubicon Mnrls* Rugby Mng Sage Gold Saint Jean Samco Gold Sennen Potash Shamrock Ent Shine Minerals Silver Mtn Mns Skarb Explor Slave Lake Zn Sonora Gld & S Superior Mng Surge Explor Themac Res Thunder Mtn Gd Tiger Intl Tocvan Venture TomaGold Tri-River Vent Trident Gold Troubadour Res Troy Enrgy Trueclaim Expl Upper Canyon Uravan Mnrls Val-d’Or Mg Vale* ValOre Metals Vangold Res Vantex Res Vatic Vent Volcanic Gold Volt Energy Westcot Vent Western Pac Rs Western Troy C Whitemud Res Xander Res Zara Res Zena Mining Zinco Mng Zincore Mtls

12-MONTH

EXC BID ASK LAST HIGH LOW

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

... 0.25 0.17 0.20 0.01 0.01 0.01 ... 0.40 0.40 0.25 0.35 0.21 0.30 0.06 0.08 0.06 0.10 0.01 0.01 0.01 0.03 0.02 0.03 0.02 0.03 0.05 0.06 0.05 0.11 0.03 0.04 0.03 0.08 0.01 0.01 0.01 0.02 0.09 0.11 0.10 0.15 0.03 0.10 0.03 0.05 ... ... 0.80 1.05 0.26 0.38 0.30 0.45 0.07 0.09 0.07 0.20 0.01 0.02 0.01 0.02 0.03 0.03 0.04 0.07 0.08 0.07 0.10 0.06 0.09 0.04 0.10 0.03 0.04 0.04 0.06 0.06 0.14 0.08 0.14 ... 0.05 0.05 0.07 0.18 0.20 0.18 0.28 0.03 0.05 0.03 0.08 0.05 0.05 0.04 0.10 0.42 0.42 0.40 1.10 0.03 0.04 0.04 0.06 0.02 0.04 0.03 0.04 0.20 0.25 0.20 0.30 0.14 0.17 0.14 0.39 ... ... 1.10 3.15 0.11 0.16 0.15 0.89 0.05 0.10 0.09 0.09 0.13 0.19 0.20 0.23 ... 0.02 0.02 0.16 0.24 0.17 0.23 0.03 0.04 0.03 0.06 0.18 0.28 0.18 0.41 0.01 0.02 0.02 0.03 0.07 0.08 0.08 0.11 ... 0.19 0.19 0.30 ... 0.26 0.26 0.07 0.08 0.08 0.13 0.04 0.06 0.07 0.09 ... ... 0.03 1.35 0.19 0.22 0.22 0.28 0.01 0.01 0.02 0.03 0.03 0.04 0.06 0.04 0.06 0.05 0.08 0.22 1.00 0.45 0.45 0.02 0.02 0.02 0.06 0.09 ... 0.14 0.16 0.01 0.02 0.02 0.02 0.04 0.10 0.10 0.10 0.06 0.07 0.06 0.13 0.04 0.05 0.05 0.08 0.06 0.09 0.06 0.10 0.39 0.44 0.39 0.23 0.06 0.08 0.06 0.09 ... ... 0.17 0.17 0.07 0.12 0.06 0.15 0.08 0.10 0.08 0.12 0.04 0.04 0.05 0.06 ... ... 0.04 0.16 0.20 0.16 0.18 0.06 0.06 0.06 0.25 0.03 0.10 0.03 0.04 0.07 0.10 0.10 0.16 0.75 0.75 0.25 0.37 0.03 0.03 0.04 0.05 0.05 0.10 0.09 0.14 ... ... 10.24 11.10 0.06 0.07 0.07 0.13 0.05 0.05 0.04 0.12 0.20 0.32 0.28 0.40 0.06 0.06 0.10 0.13 0.26 0.33 0.29 0.81 0.04 0.06 0.06 0.13 ... ... 0.35 0.31 0.41 0.35 1.08 0.06 0.10 0.10 0.10 0.01 0.02 0.01 0.03 0.11 ... 0.09 0.12 ... ... 0.07 0.22 0.05 0.08 0.07 0.09 0.05 0.07 0.05 0.03 0.05 0.05 0.07

0.15 0.13 0.03 0.01 0.01 0.03 0.02 0.01 0.07 0.02 0.80 0.20 0.06 0.01 0.06 0.04 0.03 0.04 0.04 0.16 0.03 0.03 0.08 0.03 0.02 0.19 0.10 0.20 0.06 0.06 0.14 0.16 0.02 0.15 0.01 0.01 0.10 0.06 0.03 0.03 0.13 0.02 0.02 0.45 0.02 0.08 0.01 0.10 0.06 0.04 0.06 0.03 0.03 0.15 0.05 0.07 0.04 0.14 0.05 0.01 0.07 0.17 0.02 0.08 6.57 0.07 0.03 0.14 0.06 0.14 0.03 0.27 0.03 0.01 0.03 0.07 0.04 0.03

2019-08-26 1:16 PM

24_SEPT2_BackCover.indd 24

2019-08-27 4:16 PM