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The top five gainers on the TSX Venture Exchange last week were Laurentian Goldfields, Flinders Resources, Silvermet, TerraX Minerals and Regulus Resources.
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 Laurentian Goldfields, Flinders Resources, Silvermet, TerraX Minerals and Regulus Resources.
Laurentian Goldfields (TSXV:LGF)
Laurentian Goldfields rose 480 percent last week to trade at $0.45. The company, based in Canada, acquires, explores and develops economic precious and base metals properties. On March 4, the company announced the closure of a private placement for total gross proceeds of $18.6 million and additionally completed its purchase of the Madsen gold project from Claude Resources (TSX:CRJ).
Laurentian has also entered into a letter of intent to acquire the Newman-Madsen gold property from Sabina Gold & Silver (TSX:SBB). That transaction is expected to close in late March.
Flinders Resources (TSXV:FDR)
Flinders Resources gained 61.04 percent last week to trade at a price of $0.61 per share. Flinders owns a 100-percent interest in the Woxna graphite mine, located in Central Sweden.
The company provided investors with a production update on March 3, highlighting its intention to restart graphite production from the Woxna mine and processing facility, which has been on care and maintenance since 2001.
Silvermet (TSXV:SYI)
Silvermet gained 50 percent last week to trade at $0.08 per share. The company, based in Canada, produces zinc. Its kiln operations in Turkey recover zinc from Electric Arc Furnace Dust, a waste product from steel mills.
Silvermet holds a 49-percent interest in a joint venture company, Befesa Silvermet, which in turn holds 100 percent of the Turkish operations. Production of 32 million pounds of payable zinc is expected per year, bolstered by Turkey’s thriving crude steel production industry.
TerraX Minerals (TSXV:TXR)
TerraX Minerals gained 36.36 percent last week to trade at $0.75 per share. The company acquires and explores gold properties in underexplored areas of Canada. Its current focus is the Northbelt property, an advanced-stage gold project near Yellowknife in Northwest Territories.
Its other projects include Blackfly and Central Canada, both of which are gold projects west of Thunder Bay. Furthermore, the company holds the Stewart property in Newfoundland. Many of its projects are situated on the western edge of the Marmion Batholith, a structure that hosts several known and productive gold deposits.
Regulus Resources (TSXV:REG)
Regulus Resources rose 28 percent last week to trade at a price of $0.16 per share. The company, based in Canada, holds a 50-percent interest in the Rio Grande copper-gold project in Argentina in a joint venture with Pachamama Resources (TSXV:PMA). Regulus operates the project, which is located in Salta in the Puna of Northwest Argentina in a province that has historically been friendly to mining.