Feb. 24, 2014 11:45AM PSTResource Investing News
Last week, the five biggest gainers on the TSX Venture Exchange were GéoMégA Resources, Fancamp Exploration, Samco Gold, Taipan Resources and Constantine Metal 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 GéoMégA Resources (TSXV:GMA), Fancamp Exploration (TSXV:FNC), Samco Gold (TSXV:SGA), Taipan Resources (TSXV:TPN) and Constantine Metal Resources (TSXV:CEM).
GéoMégA Resources rose 81.58 percent last week to trade at $0.85. The company explores and develops deposits of metals, including rare earth elements, niobium and graphite, in Quebec. It has a 100-percent interest in the Montviel rare earth/niobium project, located north of Lebel-sur-Quevillon in Northern Quebec. The project hosts carbonatite intrusions with rare earth element and niobium mineralization.
In January, the company announced the results of Phase 3 diamond drilling at Montviel. The release shows that the known heavy rare earths mineralization zone is quite large and that there is possibly another like it nearby.
Fancamp Exploration rose 66.67 percent last week to a price of $0.11. Fancamp is based in Canada, and owns a portfolio of mineral properties in Ontario, Quebec and New Brunswick. These properties include the McFaulds nickel–copper–PGM–chromite property, the wholly owned Lac Lamâlée iron property as well as the Magpie deposit, one of the largest undeveloped titaniferous magnetite bodies.
According to MarketWatch, Fancamp is “positioned for potential extraordinary share price appreciation over the coming months and years as the reality of the large inherent value that the company possesses is understood by the market and milestones by its partner companies are achieved.” Fancamp originates mining properties and then sells them to partner companies, retaining some interest in them, to maximize value for shareholders.
Samco Gold gained 61.54 percent last week to trade at $0.21. Samco Gold acquires, develops and explores mineral properties, focusing primarily on gold and silver. Its principal project is the El Dorado-Monserrat epithermal gold project, located in Santa Cruz, Argentina, near other productive mines. The company holds a portfolio of other properties in the same area of Argentina, including the Corina and 2Gs projects.
Aside from its primary projects, Samco Gold also owns several early stage properties initially claimed by Argentine geologists.
Taipan Resources rose 47.37 percent to trade at $0.56 last week. Formerly known as Taipan Capital, the Canada-based company focuses on oil exploration in Africa. It has interests onshore in Kenya through its subsidiary Lion Petroleum. Currently, Taipan possesses a prospective resource of 239 million barrels of oil equivalent.
The company concentrates its efforts on exploration and eventual production from underexplored sedimentary basins in Africa. It is the fourth-largest acreage holder onshore in Kenya. Taipan anticipates beginning drilling on its first well in Q3 2014.
Constantine Metal Resources
Constantine Metal Resources rose 46.67 percent to trade at $0.11 last week. The junior exploration company has several properties. Its principal property is the Palmer project, a copper-zinc-gold-silver massive sulfide exploration project in Southeastern Alaska. The company also has a copper-gold property in Idaho, and gold properties in Ontario, British Columbia and the Yukon. It also has a 50-percent interest in mineral claims in Yukon through a joint venture with Carlin Gold (TSXV:CGD), another gold exploration company.
argentinacanadachromiteepithermalepithermal goldgmagold exploration companyjoint venturejunior resource companiesnew brunswickResource Investing