Topping the percentage gainer list over the report period ended April 6 was Arizona-based Nord Resources, which rocketed 40% to US35 on 170,000 shares traded on the pink sheets.
The company has closed an option agreement to acquire the Coyote Springs porphyry copper-gold property near Safford in Arizona’s Graham Cty. Nord meanwhile continues to seek funding to restart its Johnson Camp copper mine, also in Arizona, and has appointed Eric Ivey as general manager of the Johnson Camp mine and Rex Loesby as director of corporate development. Nord Resources has an interest in publicly traded Nord Pacific, which is involved in the Simberi Gold joint venture in Papua New Guinea. Nord Pacific is being acquired by Australia’s Allied Gold under a deal whereby Nord Resources will wind up owning about 5 million Allied Gold shares. Nord Resources also holds a 2.5% royalty interest in Sierra Rutile, which will resume producing titanium dioxide in Sierra Leone this year.
Alcoa topped the most-active list as it reported strong first-quarter results that were highlighted by a net income that more than doubled to US$355 million, or US41 per diluted share, and revenues that jumped 11% to US$5.7 billion. Alcoa ended the period up US$1.45 to US$36.50.
Junior US Gold ranked as the biggest percentage loser, sinking 13% to 90 — well off its highs of around US$1.50 achieved in January. US Gold is partnered with Canadian-Australian junior Bactech Mining at the advanced-stage Tonkin Springs gold project in Nevada, and has a second gold property, El Aguila, in Mexico, which might enter production in 2005.
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