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Despite a less than stellar market last week, junior mining companies still managed to beat the trend to see a boost in share prices. Regulus Resources Inc., Colt Resources and Asian Mineral Resources led the charge for gains on the Toronto Venture Stock Exchange with Red Tiger Mining Inc. and Foran Mining Corporation rounding out the top five.
Below is a list of the top five and the gains they have seen.
Regulus Resources Inc. (TSXV:REG)
Regulus Resources was at the head of the pack for gainers, seeing a huge percentage change of 218.67, or $0.33. This increase comes on the heels of the company completing its merger with Southern Legacy Minerals Inc. The organization stated in an October 1 press release that the amalgamated company will maintain the name Regulus Resources Inc., as well as maintain the public listings of Southern Legacy on both the TSX Venture Exchange and the Bolsa de Valores de Lima.
Colt Resources (TSXV:GTP)
Colt owns seven properties in Portugal, with a focus on mining and finding high-grade gold and tungsten. The mining exploration and development company experienced a weekly percentage increase of 53.33, or $0.04. The company most recently reported encouraging results from its Tabuaco tungsten project in northern Portugal. At last look, shares were being sold at $0.12 a share.
Asian Mineral Resources (TSXV:ASN)
This company came in third for weekly gains, seeing a rise of 33.33 percent, or $0.01. The company owns and operates the Ban Phuc nickel project in Vietnam which produces more than 6,400 tonnes of nickel and 3,200 tonnes of copper per annum. Asian Mineral Resources shares were selling at $0.04 at last count.
Red Tiger Mining Inc. (TSXV:RMN)
The copper and near-term gold producer Red Tiger Mining saw a weekly increase of 25 percent, or $0.04. Red Tiger owns the 11,200 hectare San Antonio project, in Sonora State, Mexico where it mines copper and has the potential for gold mining. The company produced 1,812 tonnes of copper cathode in the second quarter of 2014 and is examining expanding its Luz del Cobre mine life. The shares were last traded at $.20.
Foran Mining Corporation (TSXV:FOM)
Rounding out the top five was Foran Mining Corporation. This zinc-copper exploration and development company saw a weekly rise of 23.08 percent, or $0.05. Last trading at $0.24, Foran Mining Corporation was most recently in the news for its preliminary economic assessment of the McIlvenna Bay Deposit. Completely owned by the company, this deposit is among the largest undeveloped VMS deposits in Canada, according to Foran Mining. In addition to zinc and copper, VMS deposits are also known to sometimes contain lead, gold and silver byproducts.
“We are pleased to announce this important undertaking for McIlvenna Bay, a well-located base metal deposit in a safe, stable jurisdiction,” said Foran President and CEO Patrick Soares in a September media release. “Defining the preliminary economic parameters is a key step in advancing McIlvenna Bay on the road to production.”