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Excelsior Mining took the top spot this week. It was followed by Puma Exploration, Almonty Industries, Abacus Mining & Exploration and Houston Lake Mining. Here’s a look at what moved their share prices.
The TSX Venture Exchange declined steadily throughout the week, then sank 0.03 percent on Friday to close at 679.38 points.
Despite the drop, several companies listed on the exchange performed well. Excelsior Mining (TSXV:MIN,OTCMKTS:EXMGF) took the top spot, and it was followed by Puma Exploration (TSXV:PUM,OTCMKTS:PUXPF), Almonty Industries (TSXV:AII), Abacus Mining & Exploration (TSXV:AME) and Houston Lake Mining (TSXV:HLM,OTCMKTS:HLKMF).
Here’s a look at what moved those companies’ share prices this week.
Excelsior Mining
This week’s top gainer was Excelsior Mining, whose share price rose 29.82 percent to hit $0.37. The company is focused on developing its low-cost Gunnison ISR copper project in Arizona, which holds probable mineral reserves of 3.61 billion pounds (632 million tons at 0.29 percent copper) contained within a measured and indicated mineral resource of 3.91 billion pounds (683 million tons at 0.29 percent copper).
The company did not release any news this week that would explain its improved share price; however it did announce the completion of a hydrological test program at Gunnison on June 9.
Puma Exploration
Puma Exploration holds three main projects in Canada: the Nicholas-Denys silver project, the Turgeon copper-zinc project and the Little Stull Lake gold project.
The company has not announced any news since June 17, when it revealed results from a 2015 drill program at Turgeon. Expanded drilling revealed more mineralization than had previously been identified. This week, the company’s share price closed at $0.12 for a 21.05-percent gain.
Almonty Industries
Almonty Industries describes itself as specializing in the acquisition of “distressed and underperforming operations and assets in tungsten markets.” It’s currently completing work at the Spain-based Los Santos mine, and holds an option to acquire a 51-percent interest in the Valtreixal project, also in Spain. The company acquired the Wolfram Camp mine in 2014.
This week, Almonty’s share price rose 19.3 percent to reach $0.68. It did not release any news during the period, though it did acquire securities of Woulfe Mining (TSXV:WOF) in early June.
Abacus Mining & Exploration
This week, Abacus Mining & Exploration’s share price gained 18.18 percent to hit $0.07. The company released no news that would explain the change.
Abacus is an exploration and development company focused on British Columbia. The company’s Ajax project is currently in the feasibility stage; ultimately, it is anticipated to have a life of 23 years. The project is being developed and funded in large part by Abacus’ joint venture partner, KGHM Polska Miedz (WSE:KGH).
Houston Lake Mining
Mining exploration company Houston Lake Mining is focused on lithium, tantalum, rubidium and cesium, and has three exploration projects in Ontario. The company’s share price rose 17.65 percent this week and reached $0.20.
On June 24, Houston Lake announced positive results from four drill holes at the Pakeagama Lake pegmatite deposit. It will have further results from the site by the end of the year.
Data for TSXV Top 5 articles is retrieved and reported each Friday. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included.
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