The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose 0.13 percent on Friday (August 25) to end at 767.18 points.
Central bankers met in Jackson Hole, Wyoming last week, but traders were not expecting any surprises or changes of course on US monetary policy.
Oil prices rose slightly on Friday as the US prepared for Hurricane Harvey, which is expected to be the largest storm to hit the US mainland in over a decade. Meanwhile, the Canadian dollar was steady against the US dollar as the market awaited the results of the meeting.
Against that backdrop, a number of TSXV-listed mining stocks experienced significant share price gains last week. The five top gainers are as follows:
- Upper Canyon Minerals (TSXV:UCM.H)
- New Stratus Energy (TSXV:NSE)
- Silvermet (TSXV:SYI)
- Pacific Booker Minerals (TSXV:BKM)
- Asian Mineral Resources (TSXV:ASN)
Read on for a brief overview of those companies and what moved their share prices last week.
Upper Canyon Minerals
Upper Canyon Minerals’ latest news came on August 17, when it announced a non-brokered private placement to raise gross proceeds of up to $1 million. The company has an option/joint venture agreement with Q-Gold Resources (TSXV:QGR) on two large gold exploration tracts in Ontario.
The company plans to use the money raised from the offering to pay off its debts and for general working capital, including potential acquisitions, marketing, corporate accounting and geological services. Upper Canyon’s share price rose 86.67 percent to close at $0.28 last week.
New Stratus Energy
Red Rock Energy recently changed its name to New Stratus Energy. The company is focused on uranium exploration, and holds a 100-percent interest in 14 claims located near Uranium City in Saskatchewan.
On August 4, the firm filed a technical report on its Fusion uranium project; it estimates that the area hosts a grade range of 0.2 to 0.25 percent U3O8. The company expects to continue drilling at the site, and last week its share price rose 71.43 percent to close at $0.48.
Silvermet
Zinc-focused Silvermet entered into a definitive merger agreement with privately owned Global Atomic Fuels on August 18, just days before LME zinc hit a decade high of $3,180.50 per tonne. The combined venture will be a “high quality uranium development company” called Global Atomic.
The companies believe the merger will be valuable as positive cashflow from Silvermet’s zinc operations will support continued development of Global Atomic Fuels’ assets. Both companies plan to hold shareholder meetings by the end of September, and if the transaction is approved it will close soon after.
Silvermet saw its share price rise 63.64 percent over the course of last week to close at $0.13.
Pacific Booker Minerals
Pacific Booker Minerals owns the advanced-stage Morrison property in BC. The company has completed a feasibility study on the copper-gold-molybdenum project, which is envisioned as an open-pit mining and milling operation. It is located within 29 kilometers of two past-producing copper mines, Bell and Granisle.
On August 18, Pacific Booker commented on recent trading of its shares on the TSXV. The company confirmed that its management is unaware of any change in the company’s status that would account for its recent share price increase. The company’s share price rose 57.14 percent over the course of last week to close at $1.10.
Asian Mineral Resources
Asian Mineral Resources owns the Ban Phuc nickel mine in Vietnam, which began producing in mid-2013. In April, the company entered into a net smelter royalty agreement with Cobalt 27 Capital (TSXV:KBLT), a company aiming to offer investors access to physical cobalt.
Last week, Asian Mineral Resources’ share price rose 50 percent to close at $0.03.
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.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Shaw, hold no direct investment interest in any company mentioned in this article.
This article is updated weekly. Please scroll to the top for the most recent information.
5 Top Weekly TSXV Stocks: Novo Resources Gains on Agreements with Artemis Resources
By Melissa Shaw, August 20, 2017
The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 0.3 percent on Friday (August 18) to end at 769.76 points.
Oil prices rallied Friday as US drillers cut rigs by five to bring the total count down to 763. A report released earlier last week suggested crude output in the US was continuing to rise.
The Canadian dollar reached a two-week high on Friday, spurred by data showing an uptick in the Bank of Canada’s core measures of inflation. The increase suggests that the bank could raise interest rates in the fall.
US stocks closed lower as news of US President Donald Trump’s firing of chief strategist Steve Bannon began to reach the market.
Against that backdrop, a number of TSXV-listed mining stocks experienced significant share price gains last week. The five top gainers are as follows:
- Novo Resources (TSXV:NVO)
- Africa Hydrocarbons (TSXV:NFK.H)
- Almonty Industries (TSXV:AII)
- Robex Resources (TSXV:RBX)
- Maya Gold & Silver (TSXV:MKNA)
Read on for a brief overview of those companies and what moved their share prices last week.
Novo Resources
Novo Resources announced on August 15 that it has signed definitive agreements for farm-in and joint venture gold rights with Artemis Resources (ASX:ARV) regarding Artemis’ exploration project in Western Australia. Novo will farm in to 50 percent of gold in Artemis’ tenements; in exchange, Novo is committing $2 million for exploration.
The firm is waiting on TSX approval for issuing 4,000,000 common shares to Artemis. Dr. Quinton Hennigh, Novo’s chairman, director and president, said the companies will, “soon soon be undertaking an aggressive program of large diameter drilling and trenching at Purdy’s Reward.”
Novo’s share price rose 62.54 percent to close at $5.33 last week.
Almonty Industries
Almonty Industries closed the first tranche of a non-brokered private placement on August 15. The company raised $4,800,000 through the sale of 16,000,000 common shares to Lewis Black, Almonty’s chairman, CEO and president. Black now controls 19.99 percent of the company, and plans to increase his ownership through a second private placement.
The company is focused on the mining, processing and shipping of tungsten concentrate from its Los Santos mine in Spain, its Wolfram Camp mine in Australia and its Panasqueira mine in Portugal. Almonty is also developing its Sangdong tungsten mine in Korea and the Valtreixal tin/tungsten project in Spain.
The company’s share price rose 46.67 percent to close at $0.33 last week.
Robex Resources
Robex Resources’ most recent news came in July, when it announced that its gold sales increased by 19 percent in Q2 compared to Q1. The company’s Nampala mine is located in Southern Mali, and has been producing since January 1, 2017. The firm has five gold exploration permits in Mali in addition to its producing mine.
The company has not released any recent updates, but recent geopolitical issues have driven investors towards safe-haven assets such as gold and the gold price has rallied 3.34 percent in the last 30 days. Robex saw its share price rise 33.33 percent over the course of last week to close at $0.18.
Maya Gold & Silver
Maya Gold & Silver released partial drill results on August 15 for its Morocco-based Zgounder silver mine. The mine has been on care and maintenance since 1990, and the company is working to bring it into production again. Last week’s results include:
Hole ZG-17-S10 drilled in the center of the deposit collared at 2060m elevation at 165 degrees North and minus 65 degrees has intersected 104 g/t Ag from 0 to 8.5m and 254 g/t Ag over 29.5m from 49.5 to 79 metres including 362 g/t over 4m from 51 to 55m, 987 g/t Ag over 1.5m from 61 to 62.5m, 471 g/t Ag over 5.5m from 71 to 76.5m and extent mineralization at depth in the area.
The company’s share price rose 28.57 percent over the course of last week to close at $0.28.
Kootenay Silver
On August 15, Kootenay Silver announced the discovery of a new mineralized zone at its La Cigarra silver project in Mexico. The company’s management believes the new area has the potential to add significant new resources to the deposit, and Kootenay’s share price rose 27.27 percent last week to end at $0.14.
Kootenay President and CEO James McDonald said, “[t]he discovery of a mineralized zone of this magnitude and strength of veining in the world-class Parral mining district is a highly significant development for the company.”
He added, “[t]he large-scale nature and intensity of the mineralized zone offers exceptional future growth potential and is characteristic of other major silver deposits in the district such as the San Francisco Del Oro and Santa Barbara mines located closely to the immediate south.”
Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST 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.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Shaw, hold no direct investment interest in any company mentioned in this article.
This article is updated weekly. Please scroll to the top for the most recent information.
5 Top Weekly TSXV Stocks: Garibaldi Resources Soars Over 50 Percent
By Melissa Shaw, August 13, 2017
The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 2.22 percent on Friday (August 11) to end at 760.84 points.
Tensions between the US and North Korea escalated last week, and were stoked further on Friday when US President Donald Trump tweeted that military solutions are “locked and loaded, should North Korea act unwisely.” The CBOE Volatility Index reached its highest level since the US presidential election on Thursday (August 10).
July US consumer price data released Friday was weaker than expected, which could make the US Federal Reserve think twice about raising rates again in 2017. The Consumer Price Index rose 0.1 percent in July, which was below the 0.2-percent gain predicted by economists polled by Reuters.
Against that backdrop, a number of TSXV-listed mining stocks experienced significant share price gains last week. The five top gainers are as follows:
- Garibaldi Resources (TSXV:GGI)
- Karmin Exploration (TSXV:KAR)
- Camino Minerals (TSXV:COR)
- Northisle Copper and Gold (TSXV:NCX)
- Falco Resources (TSXV:FPC)
Read on for a brief overview of those companies and what moved their share prices last week.
Garibaldi Resources
Garibaldi Resources’ current focus is its 200-square-kilometer land package in BC’s Eskay Mining Camp, where the E&L project at Nickel Mountain is located. The company’s most recent news came on July 27, when it announced a new surface discovery at E&L; the find was made after the company followed up on the first of four VTEM conductor targets.
The company said widespread pyrrhotite-chalcopyrite mineralization was identified on surface in gabbroic rocks that outcrop over a broad area at Anomaly A. Anomaly A is located about 6 kilometers north-northeast of historic nickel-copper mineralized zones at E&L, where more drilling will start soon.
Garibaldi Resources’ share price rose 50.65 percent to close at $0.54 last week.
Karmin Exploration
Karmin Exploration has three projects in South America: the Aripuana zinc project and Aripuana gold project in Brazil, plus the Cushuro gold project in Peru. The company has not released any news since March, but last week its share price rose 45.45 percent to close at $0.79.
Camino Minerals
Camino Minerals has several projects in Peru, including the Los Chapitos copper-silver project, the Plata Dorada copper-silver-gold project and the Red Beds copper project. Camino also holds the Lost Cabin gold project in Nevada.
The latest news from Camino came on July 20, when it reported initial drill results from the Katty zone at Los Chapitos. Camino said drilling will continue and noted that it will report further assay results once they are received. The company’s share price rose 42.86 percent last week to close at $0.62.
Northisle Copper and Gold
Northisle Copper and Gold owns the North Island copper-gold project in BC. Last week, the company’s share price rose 38.46 percent to close at $0.18.
On July 27, the company completed a six-hole drill program at the project, commenting that core samples have been sent to a lab in Vancouver. North Island is comprised of four deposits, and the firm also said it will have a preliminary economic assessment ready for two of those deposits, Hushamu and Red Dog, by the end of August.
Falco Resources
Falco Resources has exploration properties in Quebec’s historic Rouyn-Noranda Mining Camp. The company’s Horne 5 project in the area covers the past-producing Horne and Quemont mines. Osisko Gold Royalties (TSX:OR,NYSE:OR) is the firm’s largest shareholder, and currently owns 13.3 percent of the company’s outstanding shares.
The company has not released any news since June, but last week its share price rose 30.43 percent to close at $0.15. It is currently focusing on exploration at Horne 5, and expects to release a feasibility study and environmental impact assessment for the project this year.
Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST 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.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Shaw, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Northisle Copper and Gold and Falco Resources are clients of the Investing News Network. This article is not paid-for content.
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