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Last week, a number of junior resource companies on the Toronto Venture Stock Exchange experienced gains in share prices. Below are the five with the greatest increases.
Last week, a number of junior resource companies on the Toronto Venture Stock Exchange experienced gains in share prices.
Below are the five with the greatest increases.
Petro One Energy (TSXV:POP)
Petro One recently announced that its $4 million private placement that began on July 28 has been fully subscribed, and the company has made an additional placement of $2 million under the same terms, with the focus of the investment offer put on institutions and fund managers. The company has recently set an agreement with the Korea Myanmar Development Company to drill up to 97 new oil wells, and it is now ready to begin drilling with the additional funding. The company’s share price has risen 35.56 percent to reach $0.61 per share.
Merrex Gold (TSXV:MXI)
Merrex Gold saw share prices jump 26.09 percent to hit $0.15 per share after its partner IAMGOLD released its second quarter unaudited financial results, which revealed net cash from operations of $96.8 million, according to MSN. Merrex is partnered with IAMGOLD on the Siribaya project in Mali.
Tintina Resources (TSXV:TAU)
In early August, Tintina Resources received permission to perform aquifer pumping tests in three new wells at its Black Butte Copper copper, cobalt, silver and barite project. After performing a preliminary investigation, the company applied for an additional 1,500 meter exploration decline to access the Johnny Lee Upper Zone Deposit. Recently, the company saw shares rise 24 percent to reach $0.16 per share last week.
Calibre Mining Corp (TSXV:CXB)
Calibre Mining’s share price was 23.53 percent to reach $0.11 per share. The company is partnered with IAMGOLD on the Eastern Borosi project in Nicaragua. Given IAMGOLD’s recent second quarter results, Calibre’s share price has seen some activity. Other than that, the company has not put out any significant news since late July.
Stakeholder Gold (TSXV:SRC)
Stakeholder Gold saw its shares increase 20.93 percent to reach $0.26 per share. The company owns the Bass River project, which has 552 claims with barite and magnetite, covering 12 kilometers of the Cobequid Fault in Nova Scotia. The site is also home to copper, gold, iron and barium. In July, the company closed a private placement of $723,698. Additionally, the company continued its geochemical grid work over parts of Bass River to find more sites for mining. It received a quote for drilling a 5,000 meter core, which was $375,000, or about $75 per meter on average. The company planned to begin the core sampling soon.
