The TSX Venture Exchange gained early in the week, but fell 0.39 percent on Friday to close at 702.85 points.The top gainers were Foran Mining, Atacama Pacific Gold, Tasman Metals, Tintina Resources and Melior Resources.
Foran Mining (TSXV:FOM) was the top gainer, and it was followed by Atacama Pacific Gold (TSXV:ATM), Tasman Metals (TSXV:TSM), Tintina Resources (TSXV:TAU) and Melior Resources (TSXV:MLR). Here’s a look at what moved those companies’ share prices this past week.
Copper and zinc exploration and development company Foran Mining had a particularly good week, and its share price gained 26.79 percent to close at $0.36. The company released its 2014 year-end financials on April 16, revealing a net loss of $1.46 million for the year; however, Foran immediately offset that news with positive information.
The company maintains a wide range of projects in Saskatchewan and Manitoba and just wrapped up the first round of drilling on the two deposits near its flagship McIlvenna Bay project, which saw promising results.
It also reported that the second hole completed in a winter exploration program at the Bigstone deposit hit 2.03 percent copper over 104.94 meters, including 4.11 percent copper over 20.35 meters and 3.16 percent copper over 19 meters; that makes it the best hole drilled to date at the Copper zone. Results for the remaining four drill holes will be released in coming weeks.
Atacama Pacific Gold
The share price of Atacama Pacific Gold gained 23.33 percent to reach $0.19 this past week. The company has 100-percent ownership of the Cerro Maricunga oxide gold deposit in Chile and has interests in six additional properties elsewhere in Chile and in the Maricunga Mineral Belt. The company did not release any news this week to explain the rise.
With claim holdings throughout Sweden, Finland and Norway that target rare earths, tungsten and iron ore, Tasman Metals is positioned to benefit from increasing demand for these metals in technology and industrial applications.
The company filed financial information with US and Canadian regulators for the first quarter on April 13. It released no other news to explain the 22.41-percent increase in its share price this week. It closed the week at $0.71.
Tintina Resources is a Vancouver-based resource company that’s focused on its 100-percent-owned Black Butte copper project, which is located in Montana. The project holds measured and indicated resources of 1.176 billion pounds of copper at an average grade of 3.4 percent in addition to 140 million pounds of inferred resources at an average grade of 2.8 percent.
The company did not release news this week to explain its share price rise.
Melior Resources owns the Goondicum mine in Queensland, Australia, and focuses on assessing, developing and operating resource projects. Goondicum has been operational in the past and Melior is currently assessing plans to restart the project.
The most recent news from Melior arrived on April 7, when the company announced the start of mineral commissioning at Goondicum. The project contains deposits of ilmenite, which is used in pigments for paints and other products, and apatite which is used in fertilizer and supplements for animal feed products.