Toronto-listed exploration companies with interests in British Columbia saw stocks rise over 50% in the past week, with a number announcing financing agreements or drilling updates.

British Columbia-based gold exploration company GT Gold Corp (CN:GTT) saw the largest gains in the past week, rising 171.1% after it announced that it had agreed on a C$5 million (US$4 million) private placement with a group of financial entities including Haywood Securities, M Partners, and PI Financial Corp.

The funding, which saw S2 Resources (AU:S2R) buy into the company, will be used on exploration at its Tatogga property in British Columbia.

A few days earlier, the company had announced a new discovery at its Saddle South prospect at Tatogga.

After a new surface discovery of widespread pyrrhotite-chalcopyrite mineralisation was publicised at junior exploration company Garibaldi Resources’ (CN:GGI) fully-owned E&L project, its share price rose 77.8% from the week before. The nickel-copper discovery is situated at Nickel Mountain in the prolific Eskay Camp of BC.

Largo Resources (CN:LGO) is focused on the production of vanadium pentoxide at its Vanadio de Maracas Menchen mine in Brazil. 

The company, which has suffered with its finances in the past, announced last week it had entered into a non-binding term sheet to restructure and covert its existing US$4.4 million debt facilities with Banco Pine into common shares. Shareholders responded, with its stock up 70.3% this week.

Largo investors were probably also happy to buy shares on the back of a 10% rise in the price of vanadium in the past week after China announced it would restrict imports of vanadium slag. The steel additive is up more than 25% since January 1.

Mineral Hill Industries’ (CN:MHI) 70% share price rise was tied to completing a non-brokered private placement of up to 3 million units (shares and warrants) at $0.30 each to raise up to $900,128.

Meanwhiel, the announcement of a 2,100m diamond drill programme at Aben Resources’ (CN:ABN) Forrest Kerr gold property in British Columbia’s Golden Triangle was enough to see its share price jump 61.9% in the past week.

The company plans to kick off the programme in the first week of August and is hoping to expand on the high-grade results from its Carcass Creek and Boundary zones.

There was no news from Deep-South Resources (CN:DSM) or Getty Copper (CN:GTX), although their shares rose 62.5% and 60%, respectively.

• [Editor:Wang Linyan]