CSE Top 5: Shoal Point Announces Updated Resource Estimate

It was an eventful week for a number of companies listed on the Canadian Stock Exchange. Below is a list of the top five junior resource companies on the exchange last week, ranked by trading volume.

Shoal Point Energy (CSE:SHP) came out on top, followed closely by Argentium Resources (CSE:AOK). St-Georges Platinum and Base Metals (CSE:SX), Jagercor Energy (CSE:JEM) and Magna Resources (CSE:MNA) also saw significant share volumes traded on the exchange last week.

Shoal Point Energy

Shoal Point Energy traded 10,285 shares last week and ended the week at a price of $0.015. The company owns leases estimated to cover 6.5 billion barrels of undiscovered petroleum; of that amount, 428 million barrels are considered prospective. That data is new as of last week, when Shoal Point released an updated NI 51-101 compliant resource estimate based on a study by Morning Star Consultants.

Shoal Point operates in a Canadian jurisdiction that gives it access to deep sea ports. Additionally, operating in Canada means that the company works under favorable regulations and is in close proximity to large oil markets in the United States.

Argentium Resources

Argentium Resources traded 10,195 shares last week to finish at a price of $0.05. Argentium is involved in mineral exploration at several sites, including the Sill Lake property near Sault Ste. Marie, Ontario. It consists of seven mining claims comprising an estimated 1,058,000 ounces of silver.

Additionally, the company’s Lone Mountain property consists of 10 mining claims, while its Ophir Canyon property holds two. As of 2011, Argentium also holds 12 claims in Nye County, Nevada.

St-Georges Platinum and Base Metals

St-Georges Platinum and Base Metals saw 6,875 shares traded last week, ending the week with a share price of $0.215. St-Georges explores for platinum, palladium, rhodium, copper, cobalt and nickel at projects in Quebec.

Specifically, it owns the Villebon copper-nickel and platinum-group elements property in Abitibi and has a 100-percent interest in the Julie and Isoukustouc nickel-copper and platinum-group elements projects. Furthermore, St-Georges owns a 100-percent interest in 10 properties that comprise the Manicouagan constellation.

Jagercor Energy

Jagercor Energy traded 6,475 shares last week, finishing at a price of $0.17 per share. Jagercor’s focus is on acquiring and developing oil and gas properties in South America with a particular emphasis on energy concessions in Argentina.

At present, Jagercor also has the right to earn a 100-percent interest in nine mineral claims in the townships of McNaughton and Sabumeni Lake in the District of Red Lake in Ontario, Canada. As a whole, that is known as the Sol D’Or Agreement. The group of claims is contiguous and within the productive Red Lake Mining District. However, Jagercor continues to work toward Argentinian oil and gas opportunities, having signed agreements with companies in that country to conduct business there.

Magna Resources

Magna Resources traded 5,097 shares last week and closed at $0.095. Magna engages in the acquisition and development of potash mineral deposits in the US and elsewhere. Its wholly owned subsidiary, American Potash, manages and operates the Green River potash project in Utah’s Paradox Basin, a known area for potash production. The project is estimated to contain between 600 million and 1 billion tonnes of sylvinite with an average grade of between 19 and 29 percent.

Magna Resources uses solution mining and solar evaporation potash recovery at its Green River project. Those processes are considered cost-effective and environmentally friendly methods of extraction.