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Huakan International Mining, EPM Mining Ventures, International Enexco, Karmin Exploration and Sama Resources were the top five gainers on the TSXV last week.
Last week, the share prices of a number of junior resource companies on the TSX Venture Exchange increased.
The five that saw the greatest increases were Huakan International Mining (TSXV:HK), EPM Mining Ventures (TSXV:EPK), International Enexco (TSXV:IEC), Karmin Exploration (TSXV:KAR) and Sama Resources (TSXV:SME).
Huakan International Mining
Huakan International Mining gained 283.33 percent last week to trade at $0.46. Formerly Merit Mining, the company explores and develops mineral properties, largely in British Columbia. These projects include the Greenwood gold project, the J&L gold-silver–zinc–lead project, the Midway property, the Old Nick nickel–cobalt property and the Welbar gold project.
On March 17, Huakan entered into an amalgamation agreement with 0996059 BC (Newco) under which Huakan will be taken private, according to Reuters. Newco is owned by Hong Kong Huakan Investment, Sun Luck Asia Investment and Power Best Resources. Under the agreement, the acquiring companies will pay $0.50 per share in cash to holders of all issued and outstanding shares in Huakan.
EPM Mining Ventures gained 72.73 percent last week to trade at $0.20. The Canada-based company is currently focusing on its potash project on the Sevier Playa in Southwestern Arizona. The project will produce sulfate of potash and other minerals that are beneficial in agriculture through the use of a solar evaporation process that is friendly to the environment.
Earlier this month, EPM Mining announced that the Bureau of Land Management intends to prepare an environmental impact statement for Sevier Lake.
International Enexco
International Enexco rose 43.24 percent to trade at $0.52 last week. The company is involved in mineral resource exploration and is currently engaged in exploring prospective North American mineral properties.
For instance, it has a 30-percent participating interest in a joint venture with Cameco (TSX:CCO) and AREVA (EPA:AREVA) to explore the Mann lake property for uranium. Mann Lake is in the southeast portion of the Athabasca Basin in Northern Saskatchewan, an area that has shown uranium mineralization before. International Enexco also has agreements to acquire interests in gold properties in Nevada in both the Churchill and Humboldt counties.
On March 20, The Globe and Mail reported that International Enexco will be split and sold. Its uranium assets will go to Denison Mines (TSX:DML,NYSEMKT:DNN), while its copper assets will become part of a new company with projects in Nevada and Alaska.
Karmin Exploration
Karmin Exploration gained 37.14 percent last week to trade at $0.48. The company is focused on the exploration and development of base metals and gold properties in Brazil.
It owns 30 percent of the Aripuanã project, one of the largest undeveloped zinc projects in Brazil, as well as 100 percent of the Aripuanã gold project, also in Brazil. Further, it owns 100 percent of the Cushuro gold project in Peru.
Sama Resources
Sama Resources gained 26.67 percent to trade at $0.19 last week. Sama is an exploration-stage company based in Canada. It is involved in mineral exploration and development in Africa. Its wholly owned Lola project is located in Eastern Guinea, adjacent to its Samapleu property, which is just across the border in Cote d’Ivoire.
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