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Last week, Sennen Potash completed drilling of its Johnson 1 Well. It also delivered assay results confirming high-grade potash mineralization at the Monument potash project in Southeast Utah and Southwest Colorado.
Last week was a big one for resource companies on the TSX Venture Exchange, evidenced by big increases from Sennen Potash (TSXV:SN) and Bonterra Resources (TSXV:BTR).
Rounding out the top five gainers were Teras Resources (TSXV:TRA), Energold Drilling (TSXV:EGD) and Lincoln Mining (TSXV:LMG).
Sennen Potash
British Columbia-based Sennen Potash led in gains over the past week, seeing growth of 266.67 percent. The company was last trading at $0.11.
This considerable growth could be due to the company’s January 15 announcement that it has completed drilling of its Johnson 1 well. Sennen delivered assay results confirming high-grade potash mineralization at the Monument potash project in Southeast Utah and Southwest Colorado.
“We are delighted to have completed drilling of the Johnson 1 Well and to have received such positive initial results,” said Ian Rozier, president and CEO of Sennen. “With the combination of high correlation to the nearby historic Redd Well, high grade potash observed in GREC and confirmed by assay results, high ambient temperature and very low levels of insolubles and magnesium, these results are very encouraging.”
Bonterra Resources
Canadian gold exploration company Bonterra Resources also saw significant growth, although its good fortune is more difficult to explain. The company hasn’t made headlines since the appointment of a new CFO and director in late December.
Still, that didn’t stop the company from posting a gain of 107.41 percent to trade at $0.28.
Teras Resources
While Teras said on January 7 that it had appointed a new director of finance to its board of directors, the real news came in December, when the company announced the completion of an independent review of its Cahuilla project.
“The review modeled geologically the sub vertical sheeted veins recognized in our last diamond core drill program,” the company stated in a press release. “Recognition of the sheeted vein complex has identified a potential higher grade block of mineralization.”
Teras saw weekly growth of 47.06 percent to trade at $0.13.
Energold Drilling
Posting weekly growth of 41.11 percent, Energold Drilling was last trading at $1.27.
It’s unclear what led to this increase, as Energold hasn’t been in the news since November, when it released the positive results of its 2014 Q3 finances.
Lincoln Mining
Canadian precious metals exploration and development company Lincoln Mining rounded out the top five gainers with weekly growth of 36.36 percent to trade at $0.08.
However, like Energold Drilling, its unclear what led to this increase, as Lincoln has not made waves in the resource sector as of late.