5 Top Weekly TSXV Stocks: Gold Reserve Gains on First Payment from Venezuela

Last week's other top-gaining TSXV stocks were Yellowhead Mining, Trigon Metals, Cornerstone Capital Resources and Lupaka Gold.

weekly TSXV stocks

The S&P/TSX Venture Composite Index (INDEXTSI:JX) added 0.56 percent on Friday (June 16) to end last week at 775.91 points.

Energy stocks increased on a rise in oil prices as some producers reduced their exports. Meanwhile, the Canadian dollar gained against the US dollar as the Bank of Canada dropped hints about a rate hike coming sooner than expected.

On the back of those factors, a number of TSXV-listed mining stocks experienced significant share price gains last week. The five top gainers are as follows:

  • Yellowhead Mining (TSXV:YMI)
  • Gold Reserve (TSXV: GRZ)
  • Trigon Metals (TSXV:TM)
  • Cornerstone Capital Resources (TSXV:CGP)
  • Lupaka Gold (TSXV:LPK)

Read on for a brief overview of those companies and what moved their share prices last week.

Yellowhead Mining

On June 9, Yellowhead Mining received approval from the TSX Venture Exchange to consolidate its shares. The one-for-12 share consolidation was approved by the company’s shareholders during its annual general meeting on May 10. 

In February, the company applied to list its shares on the TSXV because it was not in compliance with the continuous listing requirements for the TSX. The TSX notified Yellowhead Mining that its shares would be delisted from the exchange on March 10, 2017. 

The company’s Harper Creek copper project will remain on care and maintenance until market conditions improve. If developed, it will be a 70,000-tonne-per-day open-pit mine with a 28-year life. 

Last week, Yellowhead Mining’s share price gained 42.86 percent to close at $0.65.

Gold Reserve

Gold Reserve received its first payment of $40 million from Venezuela on June 16. Under the terms of a settlement agreement, the country will pay Gold Reserve a total of $1.03 billion through a series of instalments over the next two years.

The payment is for the expropriation of Gold Reserve’s Brisas gold project by the Venezuelan government. In a press release, the firm said it is still working with its Venezuelan counterparts to create a joint venture called Empresa Mixta Ecosocialista Siembra Minera

The company’s share price gained 23.13 percent to close last week at $3.46.

Trigon Metals

Trigon Metals is focused on copper exploration in Namibia. The company owns an 80-percent interest in five mining licenses in the Otavi Mountain lands, an area of the country known for its high-grade copper deposits.

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On June 1, the firm closed the first tranche of a private placement, raising $485,000. Then, on June 5, the company filed a NI 43-101 technical report including an executive summary of preliminary economic assessment results for its Kombat copper project. Highlights include a mine life of nine years with reserves of copper, lead and silver at the site.

Last week, the company did not release any news; nevertheless, its share price rose 19.57 percent over the course of the week to close at $0.28.

Cornerstone Capital Resources

On June 13, Cornerstone Capital Resources provided a drilling update for its Cascabel copper-gold joint venture in Northern Ecuador. The company has already begun drilling at the site and is waiting for initial assay results. It anticipates the arrival of two additional drill rigs in July and one in August to reach a total of eight on site by year end.

Cornerstone is developing the Cascabel project in partnership with Exploraciones Novomining, an Ecuadorean company owned by SolGold (LSE:SOLG). The company’s share price rose 16.67 percent last week to close at $0.46.

Lupaka Gold

Lupaka Gold has three projects in Peru, and completed a non-brokered private placement on May 24, raising $300,000. Earlier in May, the company amended an agreement with PLI Huaura Holdings regarding a definitive pre-paid forward gold purchase agreement. The proceeds will be used to complete development and begin production at the company’s Invicta mine. 

Last week, Lupaka Gold’s share price rose 12 percent to close at $0.14. It did not release any news that would explain the increase.

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: Oceanus Resources Gains on High-grade Drill Results

By Melissa Shaw, June 11, 2017

The S&P/TSX Venture Composite Index (INDEXTSI:JX) experienced a minor decline of 0.01 percent on Friday (June 9) to end at 791.2 points.

A Friday report from Statistics Canada showing increased job growth bolstered market confidence. According to The Globe and Mail, job growth accelerated in May at its fastest pace in eight months. Meanwhile, average hourly wages were up 1 percent from the previous year, which economists said is slow, but an improvement.

Bank of Canada Governor Stephen Poloz noted on Thursday (June 8) that the Canadian economy has shown more signs of strength in recent months. Most economists expect the Bank of Canada to raise interest rates next year given uncertainty about US trade policies.

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On the back of those factors, a number of TSXV-listed mining stocks experienced significant share price gains last week. The five top gainers are as follows: 

  • VanadiumCorp Resource (TSXV:VRB)
  • American Creek Resources (TSXV:AMK)
  • Oceanus Resources (TSXV:OCN)
  • Meridian Mining (TSXV:MNO)
  • Galway Metals (TSXV:GWM)

Read on for a brief overview of those companies and what moved their share prices last week.

VanadiumCorp Resource

VanadiumCorp Resource announced last Friday that it has begun sample production of vanadiferous titanomagnetite (VTM) concentrate in partnership with Electrochem Technologies & Materials.

The two companies signed an MOU in February to work toward producing vanadium electrolyte directly from VTM concentrate; the plan is for the vanadium electrolyte to be used in vanadium redox flow batteries. On the back of the news, VanadiumCorp’s share price gained 56.25 percent to close at $0.13.

American Creek Resources

American Creek Resources holds 12 gold and silver properties in BC, including sites in the province’s Golden Triangle. It did not release any news last week, but its share price nevertheless gained 37.5 percent to end at $0.06. 

Most recently, the company closed an oversubscribed non-brokered private placement on May 30. It intended to raise $300,000, but issued more units once that goal was met; altogether American Creek raised $625,000. 

Oceanus Resources

Oceanus Resources’ El Tigre property is located in Mexico. The firm released its latest drill results for the project last Wednesday (June 7), noting that it found high-grade gold and silver mineralization in the Protectora vein. Since last year, Oceanus has completed 62 drill holes at El Tigre; it plans to release a resource estimate for the project by the end of June. 

Last week’s news sent the company’s share price up 35.71 percent to close at $0.29.

Meridian Mining

BMC is Meridian’s flagship asset in Brazil, and has been producing manganese since 2007. The company is engaged in geological work to identify manganese veins and other minerals on the property to support longer-term production.

On May 30, Meridian Mining provided an exploration update for its Bom Futuro tin joint-venture project, also in Brazil. The company’s share price rose 27.08 percent last week to close at $0.61.

Galway Metals

Galway Metals has an option agreement to acquire a 100-percent undivided interest in the Clarence Stream gold project, which it considers its flagship project. On May 31, the firm announced that it has contracted SRK Consulting to produce a resource estimate for Clarence Stream. 

In addition to Clarence Stream, Galway has a 100-percent interest in the past-producing Estrades mine in Quebec, plus the adjacent Casa Berardi Break gold-bearing fault system. The company did not release any news last week, but its share price rose 25 percent to close at $0.35.

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.

Gold Outlook 2017!

Click here to get a clear perspective on the gold price and what the experts see coming in 2017 with our FREE Special Report (value of $49). Limited time offer. No credit card required.   Get My Free Report  

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

5 Top Weekly TSXV Stocks: E3 Metals Gains After Acquiring Petro-brine Properties

By Melissa Shaw, June 4, 2017

The S&P/TSX Venture Composite index (INDEXTSI:JX) rose last week, increasing 0.07 percent on Friday (June 2) to end at 800.98 points.

The index was buoyed slightly by the latest US jobs report, which shows that job creation slowed in May. The news lifted gold prices to a six-week peak. According to Reuters, the majority of market participants believe that despite that lackluster jobs data, the US Federal Reserve will announce an interest rate hike at its next meeting.

On the back of those factors, a number of TSXV-listed mining stocks experienced significant gains. The five top gainers last week are as follows:

  • Bowmore Exploration (TSXV:BOW)
  • Jaxon Minerals (TSXV:JAX)
  • E3 Metals (TSXV:ETMC.H)
  • NV Gold (TSXV: NVX)
  • Abacus Mining and Exploration (TSXV:AME)

Read on for a brief overview of those stocks and what moved their share prices last week.

Bowmore Exploration

Bowmore Exploration announced on June 1 that it will be changing its name to Osisko Metals, and will trade on the TSXV under the symbol OM. The firm plans to focus on zinc projects in Eastern Canada in the medium term. Osisko Gold Royalties (TSX:OR,NYSE:OR) is a significant shareholder in Osisko Metals, with 20.5 percent ownership.

Last week the company’s share price gained 61.76 percent to close at $0.28.

Jaxon Minerals

Jaxon Minerals’ share price rose 45 percent last week to settle at $0.29 on news that the company plans to buy the Foremore property in BC’s Golden Triangle region. Foremore is located 45 kilometers north of Barrick Gold’s (TSX:ABX,NYSE:ABX) historic Eskay Creek mine, and adjoins Jaxon’s recently acquired Wishbone property. Cominco and Roca Mines reportedly spent millions of dollars developing target areas on the 15,500-hectare property.

E3 Metals

E3 Metals resumed trading on the TSXV on Wednesday after gaining approval from the exchange to acquire 1975293 Alberta. The takeover gives E3 Metals ownership of the oilfield lithium brine (petro-brine) Clearwater and Exshaw properties. In a press release, the company notes that petro-brines are known to contain concentrations of lithium, although it has not conducted any drilling or analytical work on the properties yet.

The news sent the company’s share price up 42.86 percent last week to close at $0.45.

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NV Gold

NV Gold is a junior mining company with 14 exploration projects. Its latest acquisition came in March, when it bought the ATV property, located in Nevada. The firm plans to start the first round of drilling at ATV in mid-2017 using funds raised from a recently closed private placement. NV Gold’s share price rose 42.59 percent last week to close at $0.39.

Abacus Mining and Exploration

Abacus Mining and Exploration has a 20-percent interest in the Ajax project located in BC. Its main asset is the Ajax coppergold project, though it also has the option to earn up to a 75-percent undivided interest in the Willow copper-gold property in Nevada.

On May 15, Abacus announced that the environmental assessment review process for Ajax will be resuming. The company has not released any news since then, but last week its share price rose 33.93 percent to close at $0.75.

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 TSX Stocks: Galane Gold Gains on LOI to Acquire Vantage Goldfields

By Melissa Shaw, May 28, 2017

The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose last week, increasing 1.09 percent on Friday (May 26) to end at 808.59 points.

According to Reuters, gains in banks and gold stocks were offset by decreases in pipeline and railway company stocks. Gold was up 0.88 percent on Friday, at $1,266.83 per ounce. Meanwhile, oil fell below $50 per barrel on the outcome of Thursday’s OPEC meeting, during which members of the organization agreed to extend production cuts by nine months.

On the back of those factors, a number of TSXV-listed mining stocks experienced significant gains. The five top gainers are listed below — as can be seen, many of them are gold-focused companies.

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Read on for a brief overview of those stocks and what moved their share prices last week.

East Asia Minerals

East Asia Minerals has three copper, gold and molybdenum exploration projects in Indonesia. In early May, the firm closed a non-brokered private placement for gross proceeds of $3.3 million. The company has not released any news since then, but last week its share price rose 50 percent to close at $0.61.

Galane Gold

Galane Gold’s share price gained 35.71 percent last week to close at $0.10. The company holds the producing Mupane gold mine in Africa, and its Galaxy asset is near production. Last Tuesday (May 23), the company entered into a letter of intent to acquire Vantage Goldfields (ASX:VGO). Later in the week, it released its Q1 financial and operating results.

CEO Nick Brodie said Q1 was challenging for Galane Gold as “unseasonably high rainfall at the Mupane property resulted in flooding at our underground mine and operational issues related to feeding wet ore to our plant.” He added, “[w]hile we managed to continue production throughout this period, albeit at a reduced rate, we did not reach our own internal targets.” Brodie also said production returned to the normal rate during Q2.

Darnley Bay Resources

Darnley Bay Resources is developing the past-producing Pine Point leadzinc mine in the Northwest Territories. A preliminary economic assessment for the project has been completed, and the company released the latest drill results from Pine Point in early May.

The company has negotiated option agreements to acquire the Clear Lake zinc-lead-silver deposit in the Yukon and the Davidson molybdenum deposit in BC. It is also exploring the Darnley Bay gravity anomaly in the Canadian Arctic. The firm’s share price gained 33.33 percent last week to settle at 0.32.

Comstock Metals

Comstock Metals has two late-exploration-stage gold projects in Saskatchewan and the Yukon. In early May, the company released the latest drill results for its Preview SW project. The company is preparing for a summer drill program at the project, and it appears to be highly anticipated by some experts.

Comstock Metals also has a gold project in Ontario, a uranium project in Saskatchewan and a polymetallic project in Mexico. The company’s share price rose 28 percent last week to close at $0.16.

Amex Exploration

Amex Exploration has two gold projects in Quebec. Its latest news came at the start of May, when it entered into an option agreement to acquire the Gowan property near the Kidd Creek mine in Ontario. Exploration President Victor Cantore said the firm will continue to add attractive properties to its portfolio. Amex Exploration’s share price rose 24.14 percent last week to close at $0.36.

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.

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

Gold Outlook 2017!

Click here to get a clear perspective on the gold price and what the experts see coming in 2017 with our FREE Special Report (value of $49). Limited time offer. No credit card required.   Get My Free Report  

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

5 Top Weekly TSXV Stocks: Integra Gold Gains on Acquisition by Eldorado Gold

By Melissa Shaw, May 21, 2017

The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose last week, increasing 0.75 percent to end at 806.9 points.

The market was buoyed by higher oil prices, though gold also fared well last week. The yellow metal gained 0.6 percent to reach $1,253.87 per ounce, its highest level in five weeks. Increased political turmoil in the US and a weaker US dollar are two factors that helped bump up gold during the period.

Against that backdrop, a variety of TSXV-listed mining stocks saw large share price jumps last week. The five top gainers are listed below — as can be seen, many of them are gold-focused companies:

  • Integra Gold (TSXV:ICG)
  • Northern Shield Resources (TSXV:NRN)
  • Fura Gems (TSXV:FUR)
  • Goldcliff Resources (TSXV:GCN)
  • Independence Gold (TSXV: IGO)

Read on for a brief overview of those stocks and what moved their share prices last week. 

Integra Gold

Integra Gold’s main asset is its Lamaque South gold project in Quebec. The company was 13 percent owned by Eldorado Gold (TSX:ELD,NYSE:EGO) until last week, when Eldorado announced plans to buy the remainder of Integra’s shares. The deal is worth about C$590 million, and Lamaque South will be Eldorado’s first asset in Canada. Integra’s share price rose 42.5 percent last week to close at $1.14. 

Northern Shield Resources

Northern Shield Resources is a Canadian platinum-group metals exploration and development company. The firm is focused primarily on the Labrador Trough in Northern Quebec. The company announced on May 5 that it has begun geophysical survey work at its Huckleberry property in that area, and plans to start drilling in June. Last week its share price rose 30.77 percent to close at $0.09.

Fura Gems

Fura Emeralds completed its name change in April and is now known as Fura Gems. The exploration company operates in Canada, Barbados and Colombia. According to Reuters, its assets include the Iron Horse property in BC. Fura Gems’ share price gained 30.65 percent last week to end at 0.41.

Goldcliff Resources

Goldcliff Resources is currently focused on moving forward with permitting at its Pine Grove gold property in Nevada. Pine Grove is a joint venture with Lincoln Mining (TSX:LMG), and Goldcliff also holds the Panorama Ridge gold project and Ainsworth silver project in BC. Goldcliff Resources’ share price stood at $0.20 on Friday, up 29.03 percent from the start of the week.

Independence Gold

Independence Gold is a gold and silver exploration company. The firm has four early stage projects in the Yukon’s White Gold District and one advanced-stage project in BC. The company did not release any news last week, but still saw a share price rise of 24.32 percent to close at $0.23.

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, Melissa Shaw, hold no direct investment interest in any company mentioned in this article.

Gold Outlook 2017!

Click here to get a clear perspective on the gold price and what the experts see coming in 2017 with our FREE Special Report (value of $49). Limited time offer. No credit card required.   Get My Free Report  

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