Resource News

The top five gainers on the TSX Venture Exchange last week were Canada Fluorspar, Boss Power, Tinka Resources, Baja Mining and Lion One Metals.

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 Canada Fluorspar (TSXV:CFI), Boss Power (TSXV:BPU), Tinka Resources (TSXV:TK), Baja Mining (TSXV:BAJ) and Lion One Metals (TSXV:LIO).

Canada Fluorspar

Canada Fluorspar, which is developing a fluorite deposit in St. Lawrence, Newfoundland and Labrador, gained 76.92 percent last week to trade at $0.35.

That increase came as Golden Gate Capital Opportunity Fund announced that CF Acquisition, its indirectly controlled subsidiary, has entered into an arrangement agreement under which it will acquire, via a plan of arrangement, all the issued and outstanding common shares of Canada Fluorspar for cash consideration of C$0.35.

Boss Power

Boss Power rose 50 percent last week to trade at $0.20. The company has long been embroiled in finalizing the terms of a 2011 settlement with the province of British Columbia regarding the expropriation of its Blizzard uranium claims. The settlement involved paying a certain sum to Anthony Beruschi, owner of some peripheral claims on the property.

On April 1, Boss finally reached a settlement with him, as well as with Morning Star Resources and Magic Dragon Ventures. Details of the settlement are available on the company’s website.

Tinka Resources

Tinka Resources gained 38.57 percent last week to trade at $0.43. The junior exploration company is based in Canada and is engaged in the acquisition and exploration of precious metals properties in Peru. Tinka aims to develop its properties to the point where they can become profitable or be joint ventured.

At the moment, Tinka is focused on developing its Colquipucro and Ayawilca projects, which are located in Central Peru’s silverleadzinc belt.

Baja Mining

Vancouver-based Baja Mining gained 33.33 percent last week to trade at $0.04. Through Minera y Metalurgica del Boleo (MMB), Baja owns a 10-percent interest in the Boleo coppercobalt-zinc-manganese project, located in Baja California Sur, Mexico.

The company’s gain came on the back of news that, along with Korea Resources and other members of the Korea Consortium, it will be converting all outstanding shareholder loans of MMB into equity of MMB. That conversion is expected to help MMB gain further financing for the Boleo project and restructure existing project financing.

Lion One Metals 

Lion One Metals rose 32.81 percent last week to trade at $0.42. The company’s main focus is moving forward its Tuvatu gold project, located in Fiji, and its Olary Creek iron ore project, situated in South Australia.

Last week, Lion One released an initial NI 43-101 mineral resource estimate for Olary Creek.


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