Source: Author: Kip Keen Posted: Monday , 24 Mar 2014
As one Twitter user put it: “It’s a feeding frenzy right now.”
He was reacting to my own message noting junior volumes looked relatively strong Friday after a lacklustre week. Wrong, as he noted.
“Junior” volumes did pop. But it was led by a trio of erstwhile explorers that recently shifted their core business, or signalled the intent to do so, with a focus on medical marijuana.
That was the feeding frenzy.
The have-been juniors of note are Terra Firma (TSX-V: TFR), Satori Reosurces (TSX-V: BUD, yes that’s right) and Supreme Pharmaceuticals (TSX-V: SL; previously called Supreme Resources). All have in recent months announced medical marijuana related strategies as Canada tightens up rules around pot cultivation to benefit commercial over home growers.
The business of exploration and project development for these juniors has proven too tough amid a financing market that is, and has been for some time, extremely tight.
Their impact on the Venture was something last week, Friday especially. The trio led in volume, taking the Venture’s top three spots on Friday, and together accounted for near a quarter the Venture’s total volume. And on gains.
But for juniors, without the pot related trading frenzy, the week ended on a less exciting note. They retreated, on the whole, during it.
Meantime, these gone-to-pot juniors reached new highs.
Article source: http://www.mineweb.com/mineweb/content/en/mineweb-exploration?oid=234131&sn=Detail