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Resource companies on the Toronto Stock Exchange this week had mixed fortunes, with the best-performing rising only 50 percent.
Coalspur Mines (TSX:CPT)
Coalspur Mines, a development company working in Alberta, gained 50 percent last week to close at $0.03 per share. On Oct. 10, the company announced it had received a mineral surface lease for the first phase of its planned Vista coal project in Alberta. This represents the last necessary approval from the Alberta Energy Regulator to begin construction of the project, and the company will begin work as soon as it obtains a county development permit.
Foraco International (TSX:FAR)
Foraco, a France-based mineral driller, rose 34.62 percent to close at $0.35 last week. The company provides mining services from exploration drilling to production, including turnkey solutions for housing and associated services in remote areas, and has a presence in 23 countries. The company had no news to report for last week.
Formation Metals (TSX:FCO)
Formation Metals, an exploration and development company, has interests in base and precious metals and uranium projects throughout North America. On Oct. 1, the company released a statement clarifying its technical report on the Idaho Cobalt Project. Since the original filing in 2008, the company has advanced through the first two phases of construction and expects to be able to complete the third after mine financing. Formation Metals rose 27.59 percent to trade at $0.19 last week