Last week saw a number of junior resource companies on the Toronto Venture Stock Exchange gain in share prices. Below are the five with the greatest increases.
Euromax Resources (TSXV:EOX)
Euromax Resources Ltd, an exploration and development company, gained 75 percent last week to a price of $0.35 on the TSXV. The company has several prospective gold properties located in Southeastern Europe, namely Bulgaria, Serbia and Macedonia. Euromax recently announced results from its drill program at the Medenovac target at the Karavansalija Mineralized Complex in southwest Serbia near Belgrade. The results confirmed base metal mineralization at the project.
American CuMo Mining rose 52.63 percent to a price of $0.15 last week following an announcement of a management change, as well as an amendment to the Pine Tree option agreement. The company, known primarily for its CuMo molybdenum project in Idaho, recently appointed Shaun Dykes, the company’s interim CEO, as Chief Operating Officer and Chrarles Yuen, recently elected as a director of the company, was appointed as Executive Vice-President. Both Dykes and Yuen will manage American CuMo’s day-to-day activities while the company searches for a new Chief Executive Officer.
With regards to the Pine Tree option agreement, American CuMo announced that IEMR Resources was granted the option to earn 100% interest in the property, subject to underlying net smelter returns royalties.
Dunav Resources Ltd. (TSXV:DNV)
Dunav Resources Ltd. rose 50 percent to a price $0.10 last week. Dunav’s main projects include the Tulare copper-gold porphyry project and the Surdulica molybdenum project. The Tulare project area is in the Lece Volcanic Complex in southern Serbia.
Dunav recently released an update on the Tulare Porphyry project. whereby projected overall recoveries at the site are currently 85.5 percent for copper and 67 percent for gold. A copper-gold concentrate was produced during the exploration. Further results from metallurgical test work at the site are expected during the second quarter of 2014.
Tirex Resources (TSXV:TXX)
Tirex Resources gained 47.83 percent to a price of $0.32 last week. The company is engaged in acquisition and exploration of properties in Albania. Its flagship property is the Mirdita property, which covers the Mirdita Volcanogenic Massive Sulphide District. Within the project are four separate copper, zinc, gold and silver deposits – Letitna, Koshaj, Gurthi South No. 1 and No. 2. The Gurthi South area has not yet been fully explored, as there are multiple zones of mineralization in it. In June 2011, Tirex applied to convert parts of its exploration permits at the Mirdita property into mining permits.
El Tigre Silver Corp. (TSXV:ELS)
El Tigre Silver Corp gained 47.06 percent last week to a price of $0.29. The Canada-based mineral exploration and development company owns nine mining concessions in the Sierra El Tigre, Sonora State, Mexico. The company develops silver and gold production from a tailings recovery project. El Tigre has not released any news since late December.