Last week, the share prices of a number of junior resource companies on the TSX Venture Exchange increased.
The five that saw the greatest increases were Focus Graphite (TSXV:FMS,OTCQX:FCSMF), Commerce Resources (TSXV:CCE), Avala Resources (TSXV:AVZ), Quaterra Resources (TSXV:QTA) and Declan Resources (TSXV:LAN).
This Canada-based junior graphite exploration company gained 100 percent on the market last week, making it a top riser. The company owns the Lac Knife project in the Côte Nord region of Quebec, which according to Focus is the highest-grade large-natural-flake graphite deposit in the world. The company also explores for rare earth elements, platinum, palladium, copper, nickel and other base metals.
Mineral exploration and development company Commerce Resources gained 69.23 percent on the TSXV last week. Commerce focuses on tantalum and niobium, as well as rare earths. Its main properties are the Blue River tantalum-niobium project in British Columbia and the Ashram rare earth project in Quebec. Commerce said it has the potential to produce 7,500 tonnes per day of tantalum at its Upper Fir underground operation at Blue River, according to a preliminary economic assessment. The deposit contains 36.4 million tonnes of indicated resources and 6.4 million tonnes inferred.
Gold and copper exploration company Avala Resources gained 36.36 percent on the market last week. The company has a “dominant land position” in Serbia within the Timok Magmatic Complex, also known as the Carpatho-Balkan Magmatic Belt. At its Timok gold project, the company has defined gold over a strike length of more than 31 miles. Avala said it is working to generate additional gold resources at Timok within a development corridor containing the Bigar Hill, Korkan and Kraku Pester deposits.
Quaterra Resources gained 33.33 percent on the TSXV last week. Quaterra is engaged in copper and silver exploration projects in the United States and Mexico, including its MacArthur project in Nevada. MacArthur is a large oxide copper project located 50 miles southeast of Reno in the Yerington Copper District, according to the company’s website. Quaterra also has two joint ventures with Freeport-McMoRan Copper & Gold (NYSE:FCX) in the United States and with Goldcorp (NYSE:GG,TSX:G) in Mexico.
Formerly Kokanee Minerals, Declan Resources gained 27.78 percent on the market last week. The Canadian natural resource company is focused on developing its gold interests in Sierra Leone, including the Nimini Hills and Baomahun South projects. Declan is also pursuing uranium in the Athabasca Basin region of Canada. The company has an option to acquire 100-percent interest in two uranium projects in the Patterson Lake area of Saskatchewan and a 100-percent interest in the Firebag River property in Northeast Alberta, according to its website.