Hunt Mining (HMX:TSXV) is the best-performing junior mining stock on the TSX Venture thus far in 2016.
Hunt was like many totally forgotten junior resource stocks a few months ago. Now it is on fire, trading higher week after week. The company has a portfolio of properties in Santa Cruz, Argentina and has been working in the region since 2006.
Hunt Mining rises +2000% on TSX Venture in 2016
Hunt Mining is a thinly traded stock and has days where it trades no volume. On other days, it trades more than 100,000 shares. Regardless, bidding in the junior miner has swallowed up offer after offer in recent months.
Hunt Mining has risen from a low of $0.015 in late-December 2015 to a high of $0.375 today. Its market cap stood at $23.3 million Friday afternoon. Its 20.97% move Friday was enough to capture the Daily Stock Challenge Breakout award as the TSX Venture rallied for its 2nd consecutive day.
In Hunt’s latest press release, Tim Hunt, Executive Chairman and Chief Executive Officer stated: “Hunt Mining’s acquisition of the Martha property was motivated by the abundance of tangible assets remaining with the property that will allow Hunt to become Argentina’s next gold and silver producer. The close proximity to our own advanced exploration projects made this an opportunity we could not pass up.”
Click here to read the entire press release.
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Hunt Mining provided a production update on its Martha Mine in early June. Hunt’s wholly owned subsidiary, Cerro Cazador S.A., has completed exploration activity including 62,000 meters of HQ core drilling, 416 line kilometers of Induced Polarization geophysical surveys and more than 20,000 surface soil, sediment, channel, chip, and trench samples, according to the company.
Investors are patiently awaiting the initiation of production at Martha.
Two Pinnacle members riding Hunt Mining higher
JimmyBoy enjoyed a 20% lift Friday, while PJHJr climbed 13.52%. JimmyBoy’s other selection of Royal Road Minerals jumped 19.05% on more than half a million traded. He has moved into 7th overall and may be heating up at exactly the right time…
TSX Venture – 5-Day Chart
We are heading into the final week of trading in August’s Stock Challenge. Be sure to get your picks in for September’s Challenge, by clicking here.
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