The S&P/TSX Venture Composite index (INDEXTSI:JX) was up 1.43 percent last week to 538.06 points. In the past month, the index has risen roughly 48 points, or 9.96 percent.
A number of companies from the mining and resources sector have supported that rise. Rusoro Mining (TSXV:RML) was the top gaining stock for the week, followed by Pure Gold Mining (TSXV:PGM), Scorpio Gold (TSXV:SGN), Barkerville Gold Mines (TSXV:BGM) and Marlin Gold Mining (TSXV:MLN).
 |
Get Our Expert Guide to Silver Investing FREE!
Download this FREE Special Report, When Will Silver Go Up: Is the Highest Price of Silver Still to Come?
|
Rusoro Mining
Shares of Rusoro were up 40 percent last week to $0.105. The company has seen its share price gain roughly 133 percent over the past year, even though its assets were nationalized by the Bolivarian Republic of Venezuela in 2012. The latest update on the situation came in June of last year, when Rusoro reported that both parties had completed their oral and written submissions in Rusoro’s arbitration before the World Bank’s International Center for Settlement of Investment Disputes.
However, it’s worth noting that last week, Gold Reserve (TSXV:GRZ) resolved a dispute with the Venezuelan government over its own asset, according to Bloomberg.
Pure Gold Mining
Pure Gold rose 37.14 percent to close at $0.24 last week. The company, which is focused on the flagship Madsen gold project in Red Lake Ontario, did not put out any news last week to explain its rise in share price. On February 18, Pure Gold released its financial and operating results for the quarter ended December 31 2015, reporting a net loss of approximately $3.5 million for the quarter relative to $5.2 million for the same period in 2014.
Scorpio Gold
Last week, Scorpio Gold reported results from 2016 exploration drilling at its Oromonte Satellite deposit at its Mineral Ridge exploration project in Nevada. Highlights from the final phase of drilling included intercepts of 1.55 grams per tonne of gold over 9.14 meters and 4.53 grams per tonne of gold over 7.62 meters. Shares of Scorpio gained 35.71 percent last week to finish at $0.095 per share.