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Stans Energy, Euromax Resources, Samco Gold, American Vanadium and Flinders Resources were the top five gainers on the TSX Venture Exchange last week.
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 Stans Energy (TSXV:HRE), Euromax Resources (TSXV:EOX), Samco Gold (TSXV:SGA), American Vanadium (TSXV:AVC) and Flinders Resources (TSXV:FDR).
Stans Energy
Last week, Stans Energy rose 106.25 percent to trade at $0.16. As Rare Earth Investing News recently reported, Stans has been out of the picture for awhile due to the fact that, along with its subsidiaries, it has been in international arbitration with the Government of Kyrgyzstan under the Convention for the Protection of Investors’ Rights in the Moscow Chamber of Commerce and Industry.
However, on April 30, the Moscow Chamber of Commerce and Industry settled that dispute, ruling in favor of Stans. Commenting on the decision, Rodney Irwin, interim president and CEO of Stans, said, “[t]his ruling validates our position as open and honest business partners for the Kyrgyz Republic. It is our hope that we can now engage the Government of the Kyrgyzstan in sincere discussions whereby we can resolve all the outstanding issues in Kyrgyzstan and resume development of Kutessay II.”
Euromax Resources
Europe-focused Euromax Resources, whose goal is to become a world-class, mid-tier gold miner, rose 50 percent last week to trade at $0.21.
The company’s core assets are located in Macedonia, Bulgaria and Serbia. Its flagship Ilovitza copper-gold project, located in Macedonia, is its most advanced; Euromax expects to advance the project to production within the next five years.
Samco Gold
Samco Gold, which is focused on the acquisition, exploration and development of South America-based precious metals projects, rose 44.12 percent last week to trade at $0.25.
Its principal activities take place in Argentina — for example, at its flagship El Dorado-Monserrat property, an epithermal gold project in the Deseado Massif region of Santa Cruz, Argentina. Samco holds other mineral properties in the same region as well.
American Vanadium
Vancouver-based resource company American Vanadium rose 41.41 percent last week to trade at $0.73. The company’s main focus is on selling GILDEMEISTER’S CellCube vanadium redox flow batteries in North America; however, it is also developing the only vanadium mine in the United States.
Most recently, American Vanadium announced the first CellCube installation in New York. The Metropolitan Transport Authority will be installing three vanadium flow batteries in a downtown Manhattan building in a bid to cut utility bills and demonstrating how “small footprint, high volume on site energy storage systems can shave down peak electricity use.”
Flinders Resources
Flinders Resources, owner of the Woxna graphite mine in Central Sweden, rose 24.68 percent last week to trade at $0.97. The mine has a rated capacity of 13,000 tonnes per year of flake graphite, and operated from 1996 to 2001; Flinders intends to bring it back into production this summer.
On April 23, Flinders provided another update on a work program aimed at restarting graphite production at Woxna, commenting that flotation cells have been installed. In addition, other key equipment has arrived at the site, while “[r]efurbishment works are progressing as scheduled.”
Related reading:
What’s Going On? Stans Energy Discusses Arbitration and Kutessay II