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Barisan Gold, Archon Minerals, Africa Hydrocarbons, Advanced Explorations and Quaterra Resources were the top five resource companies showing gains on the TSXV.
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 Barisan Gold (TSXV:BG), Archon Minerals (TSXV:ACS), Africa Hydrocarbons (TSXV:NFK), Advanced Explorations (TSXV:AXI) and Quaterra Resources (TSXV:QTA).
Barisan Gold
Barisan Gold rose 62.79 percent last week. The company, based in Canada, concentrates on the exploration, acquisition and development of gold–copper porphyry properties in Indonesia. Its wholly owned subsidiaries are Gayo HK, Barisan HK and Takengon HK. Its current properties are in the northern tip of Sumatra Island in Indonesia’s Aceh province. There are six identified gold-copper porphyries in the Barisan porphyry belt, an epithermal gold deposit known as Abong and the Takengon gold and copper porphyry project. The company owns 80-percent equity interest in and operates the Barisan I and Barisan II properties, which include the Abang, Lower Ise Ise, Middle Ise Ise Upper Tengkereng and Lower Tengkereng prospects. The 20 percent of interest Barisan does not own in these projects is held by local Indonesian companies, according to Barisan Gold.
Archon Minerals
Archon Minerals gained 37.5 percent last week. Based in Vancouver, Archon Minerals explores mineral properties in the Northwest Territories. It is involved in three active property groups, including the Buffer Zone joint venture, WO Block project, Lac de Gras area and Monument diamond project. The company’s major interest is in diamond exploration, and it is involved in the development of the first kimberlite pipe to be explored in the Buffer Zone. It also has interest in all other kimberlite pipes in the area that may be developed in the future.
Africa Hydrocarbons
Africa Hydrocarbons rose 33.33 percent last week. It is an oil and gas company that is engaged in acquisition and development of prospective properties in Africa. Its major asset is the Bouhajla Block, in which it owns a 47.5 percent interest. The project is located in Tunisia within the Pelagian Basin, a region that has been very productive historically. Africa Hydrocarbons is currently exploring more opportunities in Africa while simultaneously completing assessments of the Bouhajla Block property. A well at the site was cased, and completion and testing are underway, according to the company.
Advanced Explorations
Advanced Explorations gained 33.33 percent last week. It is a development-stage resource company whose activity centers on the Roche Bay and Tuktu iron ore projects on the Melville Peninsula in Nunavut, one of the world’s largest developing iron ore districts. These two projects are located close to one another. Advanced Explorations holds permits for more than 523,200 acres, which are prospective for iron ore, copper, nickel, molybdenum, silver and gold exploration. According to the company, between the Roche Bay and Tuktu deposits there are over 1 billion tons of accessible iron ore.
Quaterra Resources
Quaterra Resources gained 28.57 percent last week. It is an exploration-stage company that works on acquiring and exploring precious and base metal mineral properties in the US and Mexico. Its projects include the MacArthur/Yerington copper project in Nevada, the Nieves silver project in Zacatecas, Mexico, the Goldcorp (NYSE:GG,TSX:G) Strategic Alliance gold and silver projects in central Mexico, the Cave Peak molybdenum prospect in Texas, the Arizona Strip uranium project and the Herbert gold project in Juneau, Alaska.