Resource News

Morien Resources led the pack of gainers on the TSXV last week. It was followed by Rathdowney Resources, Puma Exploration, Lion One Metals and Taipan Resources.

It’s no secret that the stock market hasn’t been friendly to miners as of late. However, a handful of resource companies still recorded gains in the 30-percent range last week on the TSX Venture Exchange.

Morien Resources (TSXV:MOX) led the charge, followed by Rathdowney Resources (TSXV:RTH), Puma Exploration (TSXV:PUM), Lion One Metals (TSXV:LIO) and Taipan Resources (TSXV:TPN). Several miners hit important milestones this week, with both Rathdowney and Lion One receiving key government approvals for their projects.

Morien Resources 

Focused on coal, Canadian exploration and development company Morien Resources saw growth of 35.29 percent last week, last trading at $0.23. That rise came on the heels of news that Glencore (LSE:GLENsold its 75-percent interest in the Donkin coal project in Nova Scotia to Kameron Collieries. Morien holds a 25-percent interest in the Donkin project.

Rathdowney Resources 

Operating mostly in Poland, Rathdowney Resources is a mineral exploration and development company focused on zinc deposits.

The company reported in late November that it has received government approvals in Poland for its Olza zinc-leadsilver project.

“With these key approvals, we have secured our project tenure and progressed with the evaluation and permitting phase at Olza,” Rathdowney President and CEO Robert Konski said in a media release. “Baseline and other data collection for an environmental assessment report and to advance engineering studies for the project continue, supported by the strong and ongoing stakeholder engagement program being deployed by Rathdowney’s Poland-based project team.”

The news could help explain why Rathdowney saw strong weekly growth of 34.78 percent in the first week of December, bringing its share price to $0.31.

Puma Exploration

Canadian mineral exploration company Puma Exploration gained 33.33 percent last week to trade at $0.18. The company most recently made headlines on November 20 for the results of its channel sampling and regional trenching programs at the Turgeon South area of its Turgeon copper-zinc project in Northern New Brunswick.

The company stated the results “confirm the high grade copper and silver results from the 2013 prospecting program.”

Lion One Metals 

Based out of Vancouver, Lion One Metals merged with Perth-based Avocet Resources in 2013, which has led to projects in Australia and other nearby locales, such as Fiji.

Recently, Lion One Metals made good progress regarding its Tuvatu gold project in Fiji when it received approval from the Fiji government for the “development of processing plant, construction of roads, underground and open cut mine construction, minesite infrastructure, tailings, pipeline, and water management facilities” on October 22.

Shares of Lion One saw weekly growth of 29.17 percent to trade at $0.31.

Taipan Resources

Taipan Resources rounded out the top five last week, gaining 21.21 percent to last trade at $0.20.

Involved in oil and gas in Kenya, Taipan reported at the end of November that an injunction has been lifted regarding its Badada-1 wellsite. The company may now continue preparations for drilling.

MARKETS

Markets
TSX19062.91+345.79
TSXV647.33+15.54
DOW31500.68+823.32
S&P 5003911.74+116.01
NASD11607.62+375.43
ASX6528.40+19.90

COMMODITIES

Commodities
Gold1827.54+0.47
Silver21.15+0.03
Copper3.740.00
Palladium1879.51+6.50
Platinum911.26+4.32
Oil107.06+2.79
Heating Oil4.24+0.02
Natural Gas6.17-0.07

DOWNLOAD FREE REPORTS

×