5 Top Weekly TSXV Stocks: Canex Metals Surges on LOI to Acquire Gold-Silver Prospect

Last week's other top-gaining TSXV stocks were Arak Resources, Cameo Resources, Adex Mining and Rugby Mining.

weekly TSXV stocks

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last week at 824.27 points, up 1.13 percent.

On Friday (April 7), investors turned to safe-haven assets after the US launched a missile strike on Syria. Precious metals rallied while riskier assets slipped, though eventually the market calmed after a US defense official told Reuters the missile strike was a “one-off.”

“The US missile strike on a Syrian air base overnight caused a knee-jerk shift into safe havens, although the impact was moderate as it is being interpreted as a one-off proportionate response,” Ian Williams, a strategist at Peel Hunt in London, told the news outlet.

Wall Street’s major indexes edged lower on Friday to end well below session highs after the missile strike. A weaker-than-expected US jobs report and comments from a key US Federal Reserve official also helped push indexes down.

That said, a number of TSXV-listed stocks in the mining sector saw share price increases last week. The top five gainers were:

  • Canex Metals (TSXV:CANX)
  • Arak Resources (TSXV:AAC)
  • Cameo Resources (TSXV:CRU)
  • Adex Mining (TSXV:ADE)
  • Rugby Mining (TSXV:RUG)

Without further ado, here’s a look at those companies and what moved their share prices last week.

Canex Metals

Canex Metals is focused on identifying, acquiring and developing high-grade gold and silver deposits in North America.

On April 4, the company entered into a letter of intent (LOI) to acquire the high-grade gold-silver Gibson prospect in BC from Altius Minerals (TSX:ALS). Canex also holds the Cariboo gold property in BC. Over the course of the week, Canex Metals’ share price spiked 130 percent to close at $0.11.

Arak Resources

Arak Resources’ share price increased 61.54 percent last week to reach $1.05. Little information is available on the company, and it has not released any news since March 31, when it provided a corporate update. Among other things, the company proposed changing its name to “Cobalt 27 Capital.”

Cameo Resources

Cameo Resources is focused on the acquisition of projects in perceived undervalued situations. It holds an interest in MEG gold property, which is located in Tanzania. The latest news from the company came on March 6, when it announced it plans for a private placement. Cameo’s share price jumped 56.86 percent last week to reach $0.80.

Adex Mining

Adex Mining is focused on developing its flagship Mount Pleasant Mine property, a multi-metal project that hosts tungstenmolybdenum and tin-indium-zinc mineralization. Located in New Brunswick, Mount Pleasant is 80 kilometers south of Fredericton, the provincial capital, and 65 kilometres from the US border. The company’s share price increased 28 percent last week to reach $0.16.

Rugby Mining

Last but not least is Rugby Mining, whose share price saw an increase of 43.33 percent last week to end at $0.43. The company is focused on the Cobrasco copper porphyry and the San Antonio gold project; both are located in Colombia. Rubgy Mining has not released any news in 2017.

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, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.


This article is updated each week. Please scroll to the top for the most recent information.

By Priscila Barrera, April 2, 2017

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last week up slightly at 815.77 points. For the first quarter as a whole it rose 7 percent.

According to Reuters, many other indexes also gained in Q1, hitting multiple record highs. The election of US President Donald Trump has provided upward momentum, and robust economic data and a pickup in corporate earnings growth have also helped.

Speaking about the S&P/TSX Composite Index (INDEXTSI:OSPTX), the TSX Venture’s counterpart, Rick Hutcheon, president and chief operating officer at RKH Investments, said, “[w]e had a bit of a consolidation toward the end of this quarter, which I think was very healthy.” He added, “I think the market needs to pause a little bit. I suspect we’re going to be in a situation where the market trades in a bit of a range for a while.”

Last week’s top-gaining mining stocks on the TSXV were:

Without further ado, here’s a look at those companies and the factors that moved their share prices last week.

Ashburton Ventures

Exploration-stage company Ashburton Ventures is currently on the hunt for mineral and energy opportunities. It holds a number of properties, including the Buckingham graphite project and several lithium projects, but so far in 2017 it has been focusing on zeolite.

In January the company signed an agreement to acquire the Z-1 zeolite quarry/mine, and in March it signed another agreement to acquire the TransCanada and Juniper Creek chabazite zeolite projects. Last week it did not release any news; nevertheless, its share price spiked 58.82 percent to close at $0.27.

MacDonald Mines Exploration

Previously MacDonald Mines Exploration was focused on copper, zinc and nickel exploration in Ontario’s Ring of Fire. Currently, however, it is directing its efforts at gold and silica exploration in Canada.

Last week, the company signed a binding letter of intent to acquire a 100-percent interest in the Ontario-based Holdsworth property. The project is part of the land package that makes up MacDonald Mines’ Wawa-Holdsworth gold-silver project. On the back of the news, the company’s share price increased 43.75 percent to reach $0.23.

North Arrow Minerals

North Arrow Minerals is currently evaluating a number of diamond properties in Canada, including the Naujaat, Mel, Pikoo, LDG and Loki projects. The company also has a 100-percent interest in the Hope Bay Oro gold project, which is located about 3 kilometers north of TMAC Resources’ (TSX:TMR) Doris gold mine.

On March 30, North Arrow entered into an agreement to sell its Contwoyto project, which includes the Butterfly gold prospect, to Crystal Exploration (TSXV:CEI). The news sent the company’s share price up 31.91 percent to reach $0.31.

LiCo Energy Metals

LiCo Energy Metals is a grassroots exploration company that is interested in metals used in the production of lithium-ion batteries. It has four projects in Canada, the US and Chile.

The company did not release any news last week, but its share price increased 28 percent to reach $0.16. Most recently, on February 22, LiCo said it was preparing for a diamond drill program at its Ontario-based Teledyne cobalt project.

PNG Gold

Last but not least is PNG Gold, whose share price increased 24.32 percent last week to end at $0.46. PNG Gold is focused on its Normanby and Sehulea exploration licenses in Papua New Guinea. Normanby includes the company’s flagship Imwauna prospect, the Kelas prospect and several other untested prospects.

On March 29, the company received pre-FEED engineering reports from Stantec Consulting and WSP Canada. The reports confirm “that PNG’s ReGenTM re-refining technology process is technologically sound,” a press release says.

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, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: LiCo Energy Metals is a client of the Investing News Network. This article is not paid-for content.


This article is updated each week. Please scroll to the top for the most recent information.

By Priscila Barrera, March 26, 2017

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

Adex Mining is focused on developing its flagship Mount Pleasant project, which it says hosts promising tungstenmolybdenum 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

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 leadzinc 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.

Don’t forget to follow us @INN_Resource for real-time news updates!

Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.

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