Rio Cristal Resources was the biggest gainer on the TSX Venture Exchange last week. It was followed by Asian Mineral Resources, Avala Resources, Reservoir Capital and Alloycorp Mining.
Last week on the TSX Venture Exchange, several resource companies saw notable gains. Rio Cristal Resources (TSXV:RCZ) was by far the biggest gainer, recording triple-digit percentage growth for the week.
Rio Cristal Resources
Canada-based junior exploration company Rio Cristal Resources saw huge weekly growth of 136.36 percent, last trading at $0.13.
The company, which is focused on the discovery and further development of zinc, copper and gold deposits in Peru, announced a units-for-debt transaction to settle debt owed to Augusta Investments and Iris Consulting on December 24. However, there was no additional news last week to explain the company’s tripe-digit percentage growth.
Asian Mineral Resources
Owning and operating one of the world’s few new sources of nickel sulfide — the Ban Phuc nickel mine in Vietnam — Asian Mineral Resources hasn’t made headlines recently except for personnel changes. The most recent of those was the appointment of James Askew as non-executive chairman of the board, replacing Michael Brown. The switch became effective January 1, 2015.
This might help explain the Canadian company’s weekly growth of 37.5 percent. Asian Mineral Resources was last trading at $0.06.
Coming in third for weekly growth was Avala Resources, posting an increase of 33.33 percent to trade at $0.08.
Focused on exploration and development of mineral properties in Serbia, Avala hasn’t made headlines since October. It’s unclear what prompted the company’s considerable weekly growth.
A Canadian company focused on the development of renewable energy projects throughout Europe, Reservoir Capital hasn’t had major operational news to share since early December, when it announced the completion of the first tranche of a non-brokered private placement financing.
“The proceeds of the offering will be used by Reservoir to support continued permitting work on its Brodarevo Hydroelectric Project in Serbia, new business efforts in Italy and for general corporate purposes,” the company stated in a media release. “The company also intends to continue its efforts to complete its private placement financing of $1.0 million as announced by press release on October 14, 2014.”
Reservoir experienced weekly growth of 31.48 percent to last trade at $0.36.
Formerly known as Avanti Mining, this Canadian company saw weekly growth of 30 percent to trade at $0.07.
Focused on the supply of steel alloy metals, Alloycorp is primarily concerned with the development of the Kitsault molybdenum project, which is located in British Columbia. The project is forecast to produce more than 11,000 tonnes of molybdenum and 1 million ounces of silver each year over 15 years, according to the company.