Canadian Stock Exchange: Matica Graphite Eyes Medical Marijuana Prospects

Many junior resource companies on the Canadian Stock Exchange achieved high trading volumes last week.

The five that had the highest volumes were Matica Graphite (CSE:GRF), Shoal Point Energy (CSE:SHP), Debut Diamonds (CSE:DDI), Far Resources (CSE:FAT) and Vinergy Resources (CSE:VIN).

Matica Graphite

Matica Graphite traded 1,830,000 shares last week, during which time its highest price was $0.055. The company operates in Buckingham Township in Quebec, an area that has produced great amounts of graphite in the past. However, it is always looking for graphite opportunities in other parts of the world.

Last week, Matica released a news report clarifying a release regarding the possibility that it will acquire medical marijuana projects. The company wished to make it clear that it will only enter that space if it finds a suitable target project and agreement, and then only after clearing Health Canada’s regulations on marijuana production.

Shoal Point Energy

Shoal Point Energy traded 1,265,700 shares last week, hitting a high of $0.015. The company has a 100-percent interest in shallow rights in Newfoundland that cover around 150,000 acres of oil in shale in Port au Port Bay. They can be developed almost entirely from land.

The company also has an agreement with Ptarmigan Energy that will allow it to earn 80-percent interest in Ptarmigan’s Green Point shale property. Shoal is based in Vancouver, and recently completed appointments to its advisory board, according to a news release.

Debut Diamonds

Debut Diamonds traded 1,209,100 shares last week, obtaining a high of $0.055 per share. The company acquires, explores for and develops mineral properties, concentrating on exploring for diamond deposits hosted in kimberlite.

Currently, Debut is working with diamond-bearing kimberlite discoveries in Northern Ontario and completing additional exploration in the area. The company has joint venture projects as well as its wholly owned exploration sites.

Far Resources

Far Resources traded 1,127,000 shares last week and was at its highest at $0.06 per share. The company explores for gold, silver and copper assets with significant potential for production and advancement. Its flagship Winston property is in New Mexico’s Black Range mining district.

The company also holds interests in the Silver Switchback and Tchentlo Lake properties, both of which are copper-gold exploration sites in British Columbia. On May 26, Far Resources announced that it intends to conduct a non-brokered private placement to raise up to $200,000.

Vinergy Resources

Vinergy Resources traded 1,077,500 shares last week, achieving a high of $0.015 per share. Vinergy Resources is an oil and gas exploration company concentrating on resources in Western Canada.