Resource News

Corazon Gold led the charge, followed by Gowest Gold, Euromax Resources, Zenyatta Ventures and Morien Resources.

While last week didn’t see huge increases on the TSX Venture Exchange, some resource companies still saw considerably more growth than others.

Corazon Gold (TSXV:CGW) led the charge, followed by Gowest Gold (TSXV:GWA), Euromax Resources (TSXV:EOX), Zenyatta Ventures (TSXV:ZEN) and Morien Resources (TSXV:MOX).

Corazon Gold 

Focused on the acquisition and exploration of mineral properties in Canada, the US and Nicaragua, Corazon Gold saw a weekly increase of 53.85 percent to trade at $0.20. It’s unclear what led to this rise.

Gowest Gold 

Canadian gold company Gowest Gold came in second place with a weekly gain of 50 percent, last trading at $0.08.

Gowest last made headlines on January 7, when it announced an extension of up to six months for its non-binding letter of intent with Kidd Operations to process gold deposit resources into a high-grade gold concentrate.

“Our latest financings and our strong partnership with Fortune Future Holdings Limited have well positioned our company during the extremely difficult period in the global resource market, something that reflects positively on the value of our assets as well as the promise that we will meet our goal of turning the Bradshaw Gold Deposit into the next new gold mine in the Timmins Camp,” Gowest President and CEO Greg Romain said. “At the same time, we appreciate the support and good relations we have with the Kidd Operations as well as their recognition of Gowest’s potential to develop the Bradshaw deposit.”

Euromax Resources 

Euromax Resources, which identifies, acquires and develops mineral resources in Southeastern Europe, most recently made the news regarding the closure of a non-brokered private placement on January 12.

However, there was no news from the company that could have caused its 33.33 percent weekly growth in share price last week. Euromax was last trading at $0.28.

Zenyatta Ventures (TSXV:ZEN)

Coming in fourth place with weekly growth of 26.32 percent to trade at $1.65 was Zenyatta Ventures, a junior graphite exploration company based in Ontario.

It’s not immediately clear what led to this increase. The company was last in the news in December regarding an update on metallurgical process developments at its Albany hydrothermal graphite deposit.

Morien Resources (TSXV:MOX)

Rounding out the top five gainers was Morien Resources, a Canadian mining, exploration and development company focused on mineral industry opportunities in North America.

The company has put out a number of releases as of late, most recently regarding the TSX Venture Exchange’s acceptance of the company’s notice of intention to make a normal course issuer bid. However, more pressing recent news related to the company’s sales agreement for its 25-percent interest in the Donkin coal project in Cape Breton, Nova Scotia to Kameron Collieries.

“Morien management and its board analysed the potential annual royalties to be received from Donkin and believe the transaction will bring significant value to shareholders,” the company stated in a January 13 press release. “Based on the current permitted production rate of 2.75 million sales tonnes per year for Donkin, and on current and forecasted coal prices for coal, the board considered royalty payments that could range from $4.6 million to $6.7 million annually.”

Morien recorded a weekly boost of 24.32 percent on the TSX Venture Exchange, last trading at $0.23.

 

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.

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