Amidst the end of this year’s tax-loss selling last week, some resource companies saw their stocks rally. Notably, Colt Resources saw its share price spike 178 percent.
Colt Resources (TSXV:GTP) experienced considerable growth last week, followed by Tintina Resources (TSXV:TAU), Atacama Pacific Gold (TSXV:ATM), Taipan Resources (TSXV:TPN) and Tinka Resources (TSXV:TK).
Colt Resources was the clear leader, posting weekly growth of 178.57 percent, easily eclipsing the rest of the top five gainers. The company was last trading at $0.20 on Friday, and dipped back to $0.125 during Monday trading hours.
Focused on mining exploration and development at its 100-percent-owned gold and tungsten projects in Portugal, it’s unclear what led to such significant growth for the company. The latest news from Colt Resources concerns an option agreement with Sunrise Resources (TSXV:SHI) at the Extra High property.
Coming in second was Tintina Resources, which is focused on the exploration, development and mining of its Black Butte copper project in Montana. Tintina saw weekly growth of 37.5 percent, last trading at $0.11.
Those gains came on the heels of the company’s announcement that it has completed its core drilling program at Black Butte, with 11 holes drilled for 3,245 meters at the Johnny Lee deposit.
“In 2014 we successfully completed pump testing to gain additional hydrologic information; completed a drilling program to collect more metallurgical samples; completed important baseline studies for fisheries, wildlife and wetlands; and perhaps most importantly gained Sandfire Resources as a strong new investor,” Vice President of Exploration Jerry Zieg said in a December 23 media release. “All our 2014 work has gone very smoothly and we look forward to applying for a mine operating permit in 2015.”
Atacama Pacific Gold
Atacama Pacific Gold has not put out any news as of late. However, a recent release from Exeter Resource (TSX:XRC) notes that a joint water exploration program by Atacama’s Chilean subsidiary and an Exeter subsidiary has encountered “significant water.”
The Chile-focused precious metals company, which owns one of the largest undeveloped oxide gold deposits in the world, posted a weekly increase of 34.62 percent, and was last trading at $0.35.
Africa-focused oil exploration company Taipan Resources, which experienced weekly growth of 27.27 percent to trade at $0.28, most recently released an update on progress its Badada well on December 11.
“The Badada-1 well will test analogous geology to the Lokichar Basin where Tullow Oil and Africa Oil have made multiple oil discoveries and continue to unlock the potential of the Tertiary Rift sequence,” the company stated. “The well is designed to test Tertiary age reservoirs at depths ranging from 1,500 and 3,500 meters.”
Taipan did not put out any further news last week.
Rounding out the top five, Vancouver-based Tinka Resources highlighted progress on its 100-percent-owned Ayawilca and Colquipucro projects in Central Peru in a December 18 media release.
“The company has completed nearly 8,000 meters of core drilling at the Ayawilca zinc–tin-copper and Colquipucro silver projects during the September-December period,” Tinka President and CEO Dr. Graham Carman said. “At Ayawilca, 16 holes were drilled to an average depth of 400 meters, while at Colquipucro, 10 holes were completed to an average depth of 160 meters. Assays are pending for the majority of the drill program. The exploration program has now stopped for the Christmas-New Year break.”
Tinka saw weekly growth of 26.32 percent to trade at $0.24.
Data for TSXV Top 5 articles is retrieved each Friday and reported on Monday. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included.