Resource Big News: IsoEnergy Intersects 7.5m of 22.7 Percent U3O8, Puma Increases Key Land Packages in New Triple Fault Gold Area

Canada equities bounced back to open Friday’s trading session after a difficult day on Thursday that saw energy stocks dragging down the market. The TSX Composite Index jumped almost 250 points on Friday to open the week’s final session at 14,148.51. Oil producers specifically have been hit hard of late as pandemic-level demand combined with a production war between Saudi Arabia and Russia to put considerable downward pressure on oil prices. In Western Canada, the price of heavy crude oil fell below $5 a barrel this week, less than ten percent of its price only one year ago. The TSX Venture Exchange dropped less than a point to open Friday’s trading at 446.63.

According to Yahoo Finance, the combined headwinds of the international price war and the coronavirus pandemic have caused the Canadian Alliance of Petroleum Producers (CAPP) to pursue “an all-hands-on-deck lobbying effort” including at least 29 meetings with federal officials and cabinet ministers between March 12th and March 29th. In response to a CAPP request to suspend environmental regulations and freeze the carbon tax, spokesperson for Environment Minister Jonathan Wilkinson released a statement via email: “When recovery begins, Canada will recover stronger and more resilient by investing in a greener future. To that end, we will continue to move forward with our policy commitments. Just like science is guiding us in our response to COVID-19, it will continue to guide us in our fight against climate change.”

In case you missed it, here is this week’s resource big news roundup: 

Precious

• Puma Increases Key Land Packages in the New Triple Fault Gold Area
• Deepest Gold Zone Intersected to Date at Renforth’s Wholly Owned New Alger Gold Property in Mine Vein Number 3

Energy

• Azincourt Extends Earn-In for East Preston Uranium Project
• IsoEnergy Intersects 7.5m of 22.7 Percent U3O8 in Drill Hole LE20-52
• Energy Fuels to Enter Rare Earth Elements Sector; Conference Call & Webcast Scheduled for April 15, 2020

Battery

• Noble Minerals Commences Drilling at Project 81 On Calder Township Gold Target
• Blackstone Acquires the Ta Khoa Nickel-PGE Project
• First Cobalt Increases U.S. Land Position by 50 Percent
• American Manganese Inc. Signs Memorandum of Understanding with Voltabox of Texas Inc.

Base

• Blackstone Acquires the Ta Khoa Nickel-PGE Project
• ALX Resources Corp. Announces Results of 2020 Winter Drilling at Falcon Nickel Project, Northern Saskatchewan

To see our previous resource investing big news roundups, click here.