The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed the week slightly down at 818.46 points–a 2.23 percent decrease.
Last week, major Wall Street indexes ended flat after Federal Reserve Chair Janet Yellen signaled the central bank is set to raise interest rates this month if employment and other economic data hold up.
Yellen, in prepared remarks to a business lunch in Chicago, also said rates are likely to rise faster this year, as the economy appears clear of any imminent hurdles at home or abroad for the first time in her tenure, Reuters reported.
As a result, many stocks were on the rise last week, with gains as high as over 114.29 percent over the five-day period.
The top five stocks for the week were:
Saint Jean Carbon (TSXV:SJL)
Noble Mineral Exploration (TSXV:NOB)
Macdonald Mines (TSXV:BMK)
Iberian Minerals (TSXV:IML)
Karmin Exploration (TSXV:KAR)
Here’s a closer look at those companies:
Saint Jean Carbon
Saint Jean is a publicly traded carbon science company, with holdings in graphite mining and lithium claims in the province of Quebec in Canada. Its graphite properties include Walker Lump, Clot Lump, St. Jovite Lump and Bell Project. On February 28, the company announced it had received a purchase order from Panasonic Corporation (TYO:6752) to supply graphite anode material to their manufacturing facility.
Over the five-day period, shares of Saint Jean Carbon saw an increase of over 114.29 percent to reach $0.15.
Noble Mineral Exploration
Noble Mineral Exploration holds in excess of 70,641 hectares of mineral rights in the Timmins-Cochrane area of Northern Ontario, upon which it plans to generate joint venture exploration programs. The company’s exploration focus is nickel-gold in Northern Ontario, gold in the Wawa area, and lithium in Northern Saskatchewan.
On February 22, the company announced that it completed the conversion of all debentures and that its operator MacDonald Mines has started work on the Wawa-Holdsworth project. Last week, shares of Noble Mineral Exploration saw a 77.78 percent increase to reach $0.08.
Macdonald Mines
MacDonald Mines Exploration is a mineral exploration company focused on gold and silica exploration in Canada. In December 2016, MacDonald Mines entered into an option and joint venture agreement with Noble Mineral Exploration to advance exploration on Noble’s Wawa-Holdsworth Gold and Silver Project.
On February 28, the company announced that it had begun a core sampling program at its Wawa-Holdsworth project. Last week, shares of Macdonald Mines saw a 47.83 percent increase to reach $0.17.
Iberian Minerals
Iberian Minerals is a Canadian junior mining company focused on evaluating gold properties in the southwestern United States. Its properties include Caurio Gold Mining Project, Cehegin Magnetite Iron Ore Mining Project and Aroche Wollastonite Mining Project. The Company operates through its subsidiary, Mineworx USA Inc, which is a mineral development and processing company focused on the mining sector through its technologies: HM X-tract, HM X-leach and HM X-mill.
On January 9, the company announced that it had applied for an exploration permit to start a work program on its Cehegin Iron Ore project in Spain. Shares of Iberian Minerals closed the week out at $0.14–a 40 percent increase over the week.
Karmin Exploration
Karmin acquires, explores and develops resource properties in Brazil and Peru. Karmin owns 30% of the Aripuanã̃ Zinc Project, one of the largest undeveloped zinc projects in Brazil. The company also owns 100 percent interest in the Aripuanã̃ Gold-Silver Project in north-western Brazil and the 25-square-kilometre Cushuro Gold Project located in the world-class Alto Chicama gold-mining district of northern Peru.
The latest company news are from November, when Karmin announced developments at the Aripuanã Zinc Project. Last week, shares of the company increased 34.48 percent to reach $0.78.
Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
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