Last week, the share prices of a number of junior resource companies on the TSX Venture Exchange increased.
Nighthawk Gold gained 53.85 percent last week. Formerly Merc International Minerals Inc., Nighthawk Gold is an exploration-stage company focused on the acquisition and development of gold properties in the Northwest Territories of Canada. The company’s headquarters are in Toronto. The company’s land position covers 222,203 acres in the Indin Lake gold camp north of Yellowknife. The company also owns mining claims that link the Indin Lake and Damoti Lake properties, and also owns the claims and leases of the Colomac gold property. The Colomac was previously in production and Nighthawk acquired it from Aboriginal Affairs and Northern Development Canada.
Sandspring Resources gained 45.24 percent last week. The company explores and develops mineral properties in the Republic of Guyana in South America. It is focused primarily on gold and related minerals. Sandspring is currently exploring its Upper Puruni property, which consists of a claim block in the Upper Puruni area of Guayana, west of Georgetown, the country’s capital. The company owns 167 contiguous prospecting permits, 13 mining permits and seven small claims, totaling 184,693 acres. A gold-copper deposit known as Toroparu is located within the boundaries of Sandspring’s Upper Puruni property.
IBC Advanced Alloys
IBC Advanced Alloys gained 40 percent last week. The company, formerly known as International Beryllium Corporation, develops and manufactures advanced alloys with a focus on beryllium alloys and specialty copper alloys. In addition to manufacturing alloys, IBC Advanced Alloys focuses on beryllium mineral exploration. It owns a 100 percent interest in the Boomer mine in the Lake George Beryllium district. Beryllium is used as a shield in nuclear reactors, as well as other applications in the nuclear, defense, aerospace, electronic and medical industries.
Silvermet gained 40 percent last week. The Toronto-based company is involved in zinc and lead production. Its Waelz kiln operations in Turkey produce zinc by recovering it from zinc- and lead-bearing electric arc furnace dust, which is a waste product of steel mills. It is involved in a joint venture company, Befesa Silvermet, that holds 100 percent of the Turkish operations. The company projects the production of 32 million pounds of payable zinc annually, according to its website. It has chosen to operate in Turkey because the country is Europe’s second-largest crude steel producer, giving Silvermet a plentiful supply of electric arc furnace dust. It currently operates a single kiln in Iskenderun, Turkey.
Xtierra gained 38.89 percent last week. The Toronto-based company explores for and develops precious and base metal deposits in the Central Silver Belts of Mexico, in the states of Zacatecas and San Luis Potosi. Among its projects are the La Laguna Pedernalillo tailings project, the El Dorado gold exploration project and the Bilbao property silver-zinc-lead-copper project. The Bilbao project has estimated resources of around 10.62 million tons, and is located northwest of Mexico City in the southeast of Zacatecas. The El Dorado project is located in the Pinos district of Zacatecas.