Top Volume Mining Stocks on the TSXV Last Week

Last week saw a number of mining companies on the TSX Venture post impressive volumes. Here’s a lookat the five with the greatest number of shares traded.

Last week saw a number of mining companies on the TSX Venture post impressive volumes.

Below are the five with the greatest number of shares traded.

KWG Resources (TSXV:KWG) was the highest-volume junior traded last week on the TSXV, with 697,577 shares changing hands. In mid-morning trading on Monday, KWG was up 11.11 percent. KWG is an exploration company developing chromite deposits in the James Bay lowlands area of Ontario. The company is presently exploring the Black Horse chromite discovery made by Fancamp Exploration (TSXV:FNC) in 2010 on its Koper Lake claim block. It has the option to earn up to an 80-percent joint venture interest in Black Horse, and any new chromite discoveries made on these claims. KWG also holds a 30-percent interest in the Big Daddy chromite deposit, which has an indicated resource of 7.9 million tonnes graded 26.7-percent Cr2O3.

True North Gems (TSXV:TGX) clocked 247,820 trades on the TSXV counter last week and managed a five-day gain of 5.56 percent. The company is exploring colored gemstone deposits in Greenland and Canada. In its latest news, True North Gems announced that following the conclusion of public hearings in Greenland, the company has been invited to participate in Impact and Benefit Agreement negotiations and royalty negotiations regarding the Aappaluttoq Ruby Exploitation Permit.

Castle Resources (TSXV:CRI) has traded 191,989 shares over the past five days. The Toronto-based company’s flagship property is the Granduc project in Northern British Columbia  — a copper volcanogenic massive sulfide deposit that was mined by Newmont Mining (NYSE:NEM) and Esso Minerals Canada between 1970 and 1984. In February, Castle Resources completed a preliminary economic assessment, outlining 11.32 million tonnes in the measured and indicated category, containing copper, gold and silver, and 44.63 million tonnes inferred. During its two- to eight-year life of mine, annual production is forecast at 72 million pounds of copper, 811,000 ounces of silver, 9,500 ounces of gold and 251,000 tonnes of magnetite.

Abcourt Mines (TSXV:ABI) is currently exploring five properties in Northwestern Quebec. The company traded 177,882 shares last week. The Abcourt properties lie within and adjacent to two gold-producing belts that run through the Rouyn-Noranda and Val-d’Or, Quebec, regions where more than 40 million ounces of gold and substantial amounts of copper and zinc have been produced, according to Abcourt’s website. A recent 43-101 feasibility study completed indicates that the Abcourt-Barvue silver-zinc proven and probable ore reserves are economical to mine at current silver and zinc prices. Abcourt Mines also announced in October that it poured its first gold from is Elder mine.

Quaterra Resources (TSXV:QTA) is aiming to develop precious and base metals properties in the United States and Mexico. Its flagship copper portfolio is in Yerington, Nevada, and it also has two joint ventures — one with Freeport-McMoRan Copper & Gold (NYSE:FCX) in the US and the other with Goldcorp (NYSE:GG,TSX:G) in Mexico. In September, Quaterra sold three properties in Mexico to Goldcorp for US$375,000, while retaining a 2-percent net smelter returns royalty on each of the properties. Quaterra traded 192,800 shares last week.


Securities Disclosure: I, Andrew Topf, own stock on Goldcorp. 

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