Resource News


Gold Standard Ventures was the top gainer for the week, followed by Hudson Resources, Erin Ventures, Golden Arrow Resources and West High Yield Resources.

The S&P/TSX Venture Composite index (INDEXTSI:JX) was down again last week, closing at about 523.73 points.
Still, several resource companies managed to do well for the week. Gold Standard Ventures (TSXV:GSV) was the top gainer for the week, followed by Hudson Resources (TSXV:HUD), Erin Ventures (TSXV:EV), Golden Arrow Resources (TSXV:GRG) and West High Yield Resources (TSXV:WHY).

Gold Standard Ventures

Shares of Gold Standard Ventures were up 35.71 for the week, closing at $0.76 per share. The company’s share price rose following further drill results confirming the discovery of a substantial new oxide gold zone north of its Dark Star deposit in Nevada’s Carlin trend. Highlights of results included an intercept of 157 meters of 1.51 grams per tonne of gold 515 meters north of the Dark Star maiden resource.
“We feel that we are in the midst of what could turn out to be another major discovery for us in one of the most prolific gold belts in the world,” said Gold Standard CEO Jonathan Awde in Tuesday’s release.

Hudson Resources

Hudson is focused on developing the White Mountain feldspar project in Greenland, and also holds the Sarfartoq rare earths project in the country. On October 2, Hudson signed an exploitation license and impact benefit agreement with the government of Greenland for its White Mountain project. There has been no additional news that would have explained the rise in share price for the company. Hudson Resources gained 23.08 percent last week to close at $0.48.

Erin Ventures

Erin Ventures holds the Piskanja and Jarandol boron projects in Serbia. Last week, the company completed its 2015 exploration program at Jarandol, which included eight exploratory drill holes totalling 2,723 meters. Shares of Erin Ventures were up 21.43 percent last week, finishing at $0.09 per share.

Golden Arrow Resources

Golden Arrow gained 20 percent last week to finish at $0.24. The company holds a number of exploration properties in Argentina, some of which are located near major mines owned by Glencore (LSE:GLEN) and Yamana Gold (TSX:YRI). Golden Arrow began drilling at its Chincillas silver project on October 27, and filed an amended technical report for an updated resource estimate at the project. However, there was no new news last week to explain the company’s rise in share price.

West High Yield Resources

Finally, West High Yield also rose 20 percent for the week, closing at $0.30. The company is developing its Record Ridge magnesium project in British Columbia. On November 3, West High Yield received permits from the British Columbia Ministry of Energy and Mines which authorized the extraction of 10,000 tonne bulk samples from the project and the Midnight Gold project site. There was no further news last week that would have explained the share price rise for the company.
Data for TSXV Top 5 articles is retrieved each Friday. Only companies with a market capitalization greater than $10 million are included.
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
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