The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last week slightly down at 803.6 points.
On Friday (March 24), many market watchers were waiting for the outcome of the US healthcare reform vote. Ultimately it was withdrawn at the last minute after failing to gain enough support to pass in Congress.
Some believe that Trump may now face headwinds in pushing other elements of his pro-growth agenda, which includes tax cuts and infrastructure spending. “I think at this point it’s really a ‘put-up or shut-up’ moment for the Trump administration and what he’s done is pretty bold,” Brad McMillan, chief investment officer at Commonwealth Financial Network, told Reuters.
Amid that excitement, a number of TSXV-listed stocks in the mining sector saw share price increases. Last week’s top gainers include:
- Canadian Imperial Venture (TSXV:CQV.H)
- East Asia Minerals (TSXV:EAS)
- Adex Mining (TSXV:ADE)
- Titanium (TSXV:TIC)
- Darnley Bay Resources (TSXV:DBL)
Without further ado, here’s a brief overview of those companies and what moved their share prices last week.
Canadian Imperial Venture
Canadian Imperial Venture is engaged in exploring and evaluating resource properties in Canada. The company’s Little Bear Lake claim block in eastern Manitoba consists of over 17 claims and covers approximately 2,149 hectares.
The company started trading on the TSXV again on March 14 after announcing a share consolidation on February 10. Over the five-day period, Canadian Imperial Venture’s share price spiked 229.17 percent to close at $0.39.
East Asia Minerals
East Asia Minerals is an exploration and development company focused on precious metals projects in Indonesia. Like Canadian Imperial Venture, it recently announced a share consolidation and began trading on the TSXV. Last week the company’s share price increased by 83.33 percent to reach $0.22.
Adex Mining is focused on developing its flagship Mount Pleasant project, which it says hosts promising tungsten–molybdenum and tin-indium-zinc mineralization. Located in New Brunswick, Mount Pleasant is 80 kilometers south of Fredericton and 65 kilometres from the US border. Last week, Adex Mining’s share price jumped 50 percent to reach $0.01; the company did not release any news during the period.
Titanium is engaged in researching and developing a separation process for the recovery of heavy minerals and bitumen from oil sands froth treatment tailings. In January, the company released its results for the first quarter of the 2017 fiscal year and reported on the steps it will take to achieve long-term financial success. Since then the company has not released any news, but last week its share price rose 38.46 percent to reach $0.90.
Darnley Bay Resources
Darnley Bay Resources saw a share price increase of 28.57 percent last week and ended at $0.45. The company has two advanced base metals projects in western Canada and one exploration project in the Canadian Arctic. Last week, it received a drill permit and initiated a drill program and IP survey at Pine Point lead–zinc project in the Northwest Territories.
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.