CSE Top 5: Hi Ho Silver Signs MOU For Grasset Mineral Licenses

Many companies listed on the Canadian Securities Exchange had an eventful week. 

Shoal Point Energy (CSE:SHP) lead the exchange with the highest trading volumes for the second week in a row, followed by Hi Ho Silver Resources (CSE:HHS), Murchison Minerals (CSE:MUR), Jagercor Energy (CSE:JEM) and Mag Copper (CSE:QUE).

Shoal Point Energy

Last week, Shoal Point Energy traded 3,660,000 shares and closed at $0.005. The company has a 100 percent interest in shallow shale gas rights in Newfoundland’s Port au Port Bay.  Last week, Shoal Point announced it had agreed with Black Spruce Exploration to terminate the farmout agreement the two companies entered last year. Shoal Point will issue 7.5 million shares to Black Spruce in connection with this agreement and its termination, according to the release.

Hi Ho Silver Resources

Coming in second was Hi Ho Silver Resources, which traded 2,822,000 shares and finished at $0.025. Last week, Hi Ho Silver announced it had signed a memorandum of understanding that covers 461 mineral licenses in the Grasset Lake nickel belt of Quebec. The company has multiple additional interests, including its flagship Fairview gold project in British Columbia and

Murchison Minerals

Murchison Minerals, the result of a reverse takeover transaction between Manicouagan Minerals (OTCMKTS:MCOUF) and Flemish Gold Corp., traded 1,700,100 shares last week and closed at $0.035. Currently, Murchison Minerals focuses on exploring and developing mineral properties in East Africa, having large land holdings in central Uganda. The area is known to be favorable for mineralization and is historically underexplored.

Jagercor Energy

Trading 1,152,000 shares last week and ending at $0.065, Jagercor Energy explores for and develops oil and gas properties in South America. It is focused mainly on energy concessions in Argentina. Last week, Jagercor announced that it will conduct two concurrent nonbrokered private placements, with the first being open to all existing shareholders, and the second being made available to accredited investors, friends, family and business associates, among others.

Mag Copper

Finally, Mag Copper traded 1 million shares last week and closed at $0.005. The company’s major activity concentrates on the past-producing Fabie Bay and Magusi River polymetallic projects held by Globex Mining Enterprises Inc., in which the company has an option to acquire 100 percent interest. Mag Copper hopes to bring both past producing mines back into production. Although production was put on hold for the mines as commodities prices dropped during the recession, Mag Copper is confident that elevated prices will help make the properties economically viable again.