Iron Tank Resources Corp is among the mineral exploration companies that made their recent entry to the marijuana industry. This Vancouver BC company is still focused on acquiring and exploring mineral properties, especially gold and copper ores, in Canada. However, in mid-2014, it announced its initial activities in the medical marijuana sector.

The company was incorporated in 2007 and formerly operated as Mountain Gold Resources, Ltd, a wholly owned subsidiary of Great Bear Resources, Ltd. Following several changes, the company became Iron Tank Resources Corp in 2011. In 2012, it then started to trade on the TSX Venture Exchange.

Iron Tank’s current symbol on the TSX is TNK. The company’s market cap is estimated at CAD 1.47 M.

Some of the most recent activities of Iron Tank Resources are in the medical marijuana sector. In June 2014, it announced that it has begun its own evaluation of its application for a medical marijuana license and facility. Though the company clarified that this action does not guarantee that it will actually obtain a license, it has secured an area from the BC Agricultural Land Reserve. It also has an option to purchase this land.

Sustaining its operations in the mining industry, Iron Tank Resources still explores properties in Canada. Its major endeavor is with the Birch Property, of which it holds interest. The property covers an area of approximately 1,700 hectares and is located in the Cariboo Mining Division in central British Columbia. It has been found to hold potential for significant deposits of copper, gold, palladium, and platinum.

The management team at Iron Tank Resources Corp is led by CEO David Michael Antony and CFO Charidy Lazorko. Its board of directors meanwhile includes Darren Kaulius, who is the lead person for the company’s marijuana application evaluation.


Yahoo! Finance: TNK News

Latest Financial News for TNK

United Airlines (UAL) Inks Deal With Clorox on Cleanliness

To restore confidence among fliers in the current scenario, United Airlines (UAL) launches United CleanPlus program.

Top Ranked Growth Stocks to Buy for May 26th

Top Ranked Growth Stocks to Buy for May 26th

Hertz Global Files for Bankruptcy Due to Coronavirus Crisis

Hertz Global (HTZ) files for bankruptcy protection after its creditors refuse to allow further extension for clearing dues beyond May 22.

4 Profitable Stocks to Boost Returns Using Net Income Ratio

Investors always look for companies with a high level of profitability regardless of the present market condition.

Copa Holdings Rides on Low Fuel Cost, Weak Travel Demand Hurts

Copa Holdings (CPA) is suffering due to coronavirus-induced low air travel demand. However, low fuel costs are a respite.