The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose 2.27 percent last week–a gain of 17.55 points–to close the five-day period at 790.57 points.
The recent report from PwC Canada cited a rise in the market capitalization of top junior mining companies, providing the industry with a more optimistic outlook. This week, there is more good news. A number of stocks saw weekly percentage gains, with the top five ranging from 30 to 50 percent over the five-day trading period.
The top five gainers for the week were:
- Azarga Metals (TSXV:AZR)
- Asian Mineral Resources (TSXV:ASN)
Giyani Gold (TSXV:WDG)
- Corazon Gold (TSXV:CGW)
Here’s a closer look at those companies:
LiCo Energy Metals
Last week’s top TSXV stock was LiCo Energy Metals, a company focussed on the exploration and development of minerals essential to lithium-ion batteries. Shares of the company rose 50 percent to $0.18 after the company announced on October 19 that it recently filed a summary report on its Teledyne Colbalt Project, and is set to begin mining the property at Timiskaming Lake for cobalt and silver.
Azarga Metals is an exploration and development company engaged in the acquisition and exploration of mineral properties. Over the week, shares of the company increased 47.06 percent to $0.5.
Though there has been no recent news from the company to explain last week’s rise in share price, on October 7, the company announced that it closed a private placement, raising $1.1 million. The proceeds will be allocated to its Unkur Silver-Copper Project. Additional assay results discovered during the project were announced on October 6.
Third on last week’s top 5 TSXV stocks is Asian Minerals, a company actively engaged in the acquisition, exploration and development of nickel mineral deposts, owning one the the few courses of nickel sulphide. The company’s shares sharply rose 40 percent today before closing the week at $0.035. The increase follows a press release on October 18 that announced further progress in the process of its proposed acquistion of Kasbah Resources (ASX:KAS).
Next on last week’s top 5 TSXV stocks is Giyani Gold, a junior exploration company interested in acquistion, exploration, evaluation and development of underexplored, past producing gold assets in South Africa and Canada.
The company’s Rock Island Gold Project recieved an acceptance letter for a retention license application from the South Afircan Department of Mineral Rources (DMR) on September 1. On October 19, Giyani Gold’s current chairman, Duane Parnham, was named Director and Chairman of the Board at Broadway Gold (TSXV:BRD).
Shares of Giyani Gold increased 31.11 percent and closed the week at $0.295.
Last week’s top 5 TSXV stocks finishes with Corazon Gold, a junior gold exploration company in Nicaragua and the US. The company’s shares saw gains of 30.91 percent to $0.36. There has been no recent news from the company to explain last week’s rise in share price. On June 29, Corazon Gold announced the appointment of Victor Goncalves as President and CEO of the company.
Data for 5 Top 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, Cynthia Minh, hold no direct investment interest in any company mentioned in this article.
Top TSXV stocks in recent weeks: