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Here’s a look at the five junior resource companies that saw the greatest percentage increases last week on the Canadian Stock Exchange.
While the Canadian Stock Exchange has significantly smaller trading volumes than the TSX Venture Exchange, junior resource companies are still definitely listed on it.
Last week, Novo Resources (CSE:NVO), Leo Resources (CSE:LEO), Infinity Minerals (CSE:IFN), Perisson Petroleum (CSE:POG) and Mistango River Resources (CSE:MIS) were the five junior resource companies that saw the greatest percentage increases on the CSE.
Novo Resources
Novo Resources gained 0.18 percent last week to trade at $1.55. Novo owns gold projects and rights in Western Australia, and its flagship project is the Pilbara Paleo-Placer project in that region. This site is considered prospective for gold based on geological similarities with a site in South Africa that houses the largest goldfield on Earth.
Early in May, Novo completed the discovery of two new gold-bearing reefs on its tenements at Elsie Creek and Miningarra. The company was recently featured in a write up in which CEO Quinton Hennigh explains his strategy for future financings.
Leo Resources
Leo Resources gained 0.17 percent last week to trade at $0.22. The company, which was spun off from Zara Resources (CSE:ZRI) in August 2013, is focused on developing its nickel–copper Riverback property in Ontario’s Kasabonika-McFauld’s Greenstone Belt.
Recently, Leo completed private placement and grant options. A non-brokered private placement of 2,500,000 units took place with Daniel Wettreich, a director of the company, and brought gross proceeds of $125,000.
Infinity Minerals
Infinity Minerals, a well-site infrastructure and oilfield service company, gained 0.12 percent last week to trade at $0.32.
On June 2, Infinity announced the signing of a non-binding letter of intent (LOI) to acquire 100 percent of the outstanding shares of private medical marijuana company The Herbal Clone Bank (THC Bank). The LOI is subject to the execution of a definitive agreement between the two companies by July 1. THC Bank’s services include the propagation, direct cultivation and sale of purebred cultivars for medical marijuana providers.
Perisson Petroleum
Oil and gas exploration company Perisson Petroleum gained 0.03 percent last week to trade at $0.10. Through its wholly owned subsidiaries, Igual Holdings and Morichal Sinoco, Perisson owns a 100-percent interest in a license known as the VMM-17 oil block project. It is in the Middle Magdalena Basin, located in the province of Tolima, Colombia, near the center of the country.
The company aims to explore and market hydrocarbon resources from production and conditioning to transport and commercialization, and hopes to eventually engage in these activities with natural gas, liquefied natural gas and petroleum.
Mistango River Resources
Mistango River Resources gained 0.02 percent last week to trade at $0.06. Mistango River, based in Canada, is a resource exploration company with a focus on precious metals. The company has projects in Ontario and Quebec, with its current most important projects, the Omega and Sackville sites, located in Ontario. The company also has large holdings in the Kirkland Lake area.