TSXV Top 5: Selwyn Resources Gains on Definitive Purchase Agreement with Scotian Zinc Mines

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.

Selwyn Resources (TSXV:SWN)

Selwyn Resources is a Canadian base metals exploration and development company. Last week, the company rose 90.05 percent to trade at 3.63.

On September 10, Selwyn entered a definitive purchase and sale agreement with Scotian Zinc Mines. The agreement provides for the sale of ScoZinc, Selwyn Resources’ wholly owned subsidiary, whose assets include the ScoZinc mine and mill and related properties. If shareholders approve the sale and all closing conditions are met, the sale should close in November 2014.

Red Tiger Mining (TSXV:RMN)

Near-term copper and gold producer Red Tiger Mining climbed 62.16 percent last week to trade at $0.30.

In late August, the company released its financial and operating results for the second quarter of 2014. Red Tiger sold more than $12 million in copper during the period, and produced 1,812 tonnes of COMEX Grade 1 copper cathodes. Its net earnings amounted to $144,871, according to the release.

Last week, the company announced an amendment to its August 20 news release, noting that unlike previously stated, 1,935,000 options were granted, not the 1,865,000 that were reported.

Auryn Resources (TSXV:AUG)

On the list again this week is Auryn Resources, which currently has no projects, but is always looking at mineral resource properties with an eye to making appropriate acquisitions. The company increased 31.17 percent to trade at $1.01 last week, though it reported no news.

Teras Resources (TSXV:TRA)

Teras Resources gained 22.73 percent last week, closing at $0.14, after it released an update on its Cahuilla gold and silver project in California.

The results of ongoing exploration are positive, according to the release, and help define the orientation and width of high-grade feeder zones. The company has decided to initiate a re-logging program that will identify and define the extent of high-grade structures in previous drill holes to minimize the impact of continued exploratory drilling.

Teras also plans to update its resource estimate in the near future.

Colonial Coal International (TSXV:CAD)

Colonial Coal International is a metallurgical coal development company. The company has 100-percent interests in two resource-stage coal properties in Northeastern British Columbia’s Peace River Coalfield.

The company gained 21.43 percent and closed at $0.17 last week.