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Also on the rise last week were New Pacific Metals, Polar Star Mining, Bannerman Resources and Alexco Resource.
Last week, a number of junior resource companies on the TSX Venture Exchange experienced share price gains.
Below are the five that saw the greatest increases.
The share price of Canada-based gold company Goldgroup Mining rose 25 percent last week, climbing to $0.21.
The company hasn’t had any news since it announced on August 22 the closing of the second and final tranche of a non-brokered private placement financing. Goldgroup issued 1,922,112 units to conclude the tranche. The company announced 10 days earlier that the first tranche closed after 5,535,909 units were issued. Units in both tranches were priced at C$0.20, with the first tranche bringing in $1,107,182 and the second $384,422.
New Pacific Metals (TSXV:NUX)
Canadian metals exploration company New Pacific Metals has projects in China and the Yukon, and counts Silvercorp Metals (TSX:SVM,NYSE:SVM) as its major shareholder. Last week, the company’s share price increased by 22.22 percent, hitting $0.28.
According to the company’s fiscal 2014 financial report, which was released last week, flooding during the summer months caused its Tagish Lake gold property to be inaccessible and experience inaction. Even so, New Pacific Metals was able to finish the fiscal year with $21.7 million in cash, cash equivalents and short-term investments.
Polar Star Mining (TSXV:PSR)
Polar Star is a Canadian mineral exploration company with properties across Chile. One of its goals is to optimize its current joint venture agreements and examine potential venture partners.
The company announced on September 19 that it will merge with Iron Creek Capital (TSXV:IRN), another Canada-based mining company with operations in Chile. The agreement will give the companies, which have already signed a letter of intent, control of more than 330,000 hectares in Northern Chile.
The news brought Polar Star’s shares up by 22.22 percent, and the company ended the week at $0.06 a share.
Bannerman Resources (TSXV:BAN)
Bannerman Resources saw a 13.33-percent share price rise last week, ending at $0.09. The company is the 80-percent owner of the Etango uranium project in Namibia, which has promising expansion potential.
On September 11, the company released its 2013/14 annual financial report. It notes that Bannerman issued $116,730,000 in capital for the fiscal year ended June 30, an increase of $920,000 pertaining to the issue of 10,547,000 shares in satisfaction of interest.
Alexco Resource (TSXV:AXR)
Alexco Resource has two divisions, with its mining operations mostly focused on exploring parts of the Yukon. Alexco’s share price increased by 11.22 percent during the week, ending at $0.97.
In mid-August, the company announced its Q2 2014 financial results, stating that it has a net working capital of $11.7 million and during the period was able to achieve “a favourable amended silver streaming agreement adopting a variable production payment basis linked to the spot price of silver.”