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Last week, a number of junior resource companies on the Toronto Venture Stock Exchange experienced gains in share prices. Below are the five with the greatest increases.
Last week, a number of junior resource companies on the Toronto Venture Stock Exchange experienced gains in share prices. Below are the five with the greatest increases.
Silvermet Inc. (TSXV:SYI)
Silvermet Inc. gained 45.45 percent last week to trade at $0.08. The company is a producer of zinc and lead from electric arc furnace dust in Turkey. Silvermet has a kiln in Iskenderun, Turkey, at which it accomplishes its zinc and lead production. The production capacity of the kiln is 32 million pounds of payable zinc annually, and Turkey has a large supply of electric arc furnace dust to make this level of production possible.
Macusani Yellowcake Inc. (TSXV:YEL)
Macusani Yellowcake gained 42.86 percent last week to trade at $0.10. The company is a Canadian uranium exploration and development business that focuses on uranium resources in southeastern Peru. Macusani has 31.5 million pounds of measured and indicated uranium resources and 30.1 million pounds of inferred resources. In April 2014, Macusani and Azincourt Uranium Inc (TSXV:AAZ) announced they have signed a non-binding letter of intent regarding the acquisition by Macusani of all of Azincourt’s adjacent uranium properties in Peru in exchange for a significant stake in Macusani.
Whitemud Resources Inc. (TSXV:WMK)
Whitemud Resources gained 40 percent last week to trade at $0.04. Whitemud is an industrial materials company that produces metakaolin for the concrete industry. The company has kaolin resources in the Wood Mountain region of Saskatchewan, and can produce metakaolin from the kaolin it mines. The company has 26 quarry leases in the area in six major blocks, and it has initially chosen to focus on the Gollier Creek block.
Flinders Resources Ltd. (TSXV:FDR)
Flinders Resources gained 32.35 percent last week to trade at $0.90. The company owns 100 percent of the Woxna graphite mine in central Sweden. The mine and its accompanying processing facility operated from 1996 to 2001, but went latent due to falling graphite prices. Now that graphite’s prices are rising again, Flinders Resources is positioned to benefit from reopening the Woxna mine. The company plans to begin production again in the summer of 2014. On May 20, Flinders and Tasman Metals Ltd. (TSVX:TSM) concluded merger negotiations by deciding not to proceed with them, according to a news release.
Quaterra Resources Inc. (TSXV:QTA)
Quaterra Resources gained 30 percent last week to trade at $0.07. The company has several projects in North America, according to its website. Its sole 100 percent owned project is the MacArthur/Yerington copper project in Nevada. The company’s joint ventures include the Yerington Copper project, the Nieves silver project, the Goldcorp precious metals strategic alliance, the Freeport-McMoRan copper and molybdenum joint ventures and the Herbert gold project. In March 2014, Quaterra completed the sale of its uranium assets in Arizona, Utah and Wyoming in order to concentrate more on its Yerington copper properties and get working capital, according to a news release.