5 Top Weekly TSXV Stocks: Bluestone Resources Gains on Goldcorp Deal

Last week's other top-gaining TSXV stocks were Newrange Gold, Black Bull Resources, Red Rock Energy and Golden Dawn Minerals.

weekly TSXV stocks

The S&P/TSX Venture Composite Index (INDEXTSI:JX) added 0.8 percent on Friday (June 23) to end at 777.25 points.

Gains in energy and resource stocks helped to bolster the index at the end of the week. The materials group, which includes miners and fertilizer firms, added 1.1 percent, and overall eight out of the 10 categories on the index gained. Losses hit the tech and consumer staples groups, which sank 0.5 and 0.3 percent, respectively. 

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:

  • Bluestone Resources (TSXV:BSR)
  • Newrange Gold (TSXV:NRG)
  • Black Bull Resources (TSXV: BBS.H)
  • Red Rock Energy (TSXV:RRK)
  • Golden Dawn Minerals (TSXV:GOM)

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

Bluestone Resources

Bluestone Resources resumed trading on the TSXV on June 22 after it completed the acquisition of two projects from Goldcorp (TSX:G,NYSE:GG). Bluestone now owns the Cerro Blanco gold-silver project and the Mita geothermal project in Guatemala. The company announced the closure of the deal on May 31.

As part of the deal, Goldcorp received $20 million in cash, a 1-percent net smelter return royalty on production, plus the right to receive 3,099,160 common shares of Bluestone and 258,805 common share purchase warrants. Goldcorp will also receive another $15 million in cash within six months of the commencement of commercial production at Cerro Blanco.

Bluestone Resources’ share price gained 248 percent last week to close at $1.74.

Newrange Gold

Newrange Gold announced results from the first 10 holes completed as part of a Phase I drill program at its Palmlico gold project on June 19. The company said the program focused on the Merritt zone at the property, which is located in Nevada.

CEO Robert Carrington said the initial results show that Pamlico is a “high potential opportunity” for the firm. “I look forward to the receipt of assays for the remaining 9 holes of the Phase I Drill Program and for more information that will come from ongoing exploration work underway at Pamlico,” Carrington added.

The company’s share price performance over the course of the week indicates that his excitement is shared by investors. Newrange gained 60 percent to close last week at $0.72.

Black Bull Resources

Black Bull Resources is based in Nova Scotia and owns the White Rock mine in the province. The mine produces high-purity quartz, and the White Rock property also contains an identified resource of kaolin and mica.

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  

The company’s most recent news came on May 29, when it released its interim report for the first fiscal quarter of the year. President and CEO Chris Every said, “while the Company’s future is uncertain with a reduced cash burn the Company can continue to seek longer-term strategic options for its resources. During the period the company also announced the completion of the 30:1 share consolidation.”

The company’s share price rose 85.71 percent over the course of last week to close at $0.13. It did not release any news during the period.

Red Rock Energy

Red Rock Energy is a uranium exploration company based in Alberta. The firm holds 26 exploration claims to a property in Northern Saskatchewan.

On June 8, the company received approval from the TSXV for its NEX reactivation and its application for graduation to Tier 2 of the TSXV. Red Rock Energy began trading under the symbol RRK on the TSXV starting on June 12.

In connection with the reactivation, the firm completed a non-brokered private placement for 20,770,332 common shares priced at $0.10 each, and raised a total of $2,077,032. The company’s share price rose 28.3 percent last week to close at $0.34.

Golden Dawn Minerals

Golden Dawn has three precious and base metals projects in BC. It released two pieces of news last week — it filed an updated preliminary economic assessment for its Greenwood gold project on June 19, and received mine permits on June 20. The mine permits are for the company’s BC-based Lexington-Grenoble mine and its Greenwood process plant. 

On the back of that news, Golden Dawn’s share price rose 27.45 percent to close last week at $0.33.

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: Newrange Gold is a client of the Investing News Network. This article is not paid-for content.


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

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

By Melissa Shaw, June 18, 2017

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.

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  

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.

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.

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  

 

 

 

 

Get the Latest Gold Investing Stock Information

Get the latest information about companies associated with Gold Investing delivered directly to your inbox.

Gold
Gold Mine Development
Gold Production/Mining
Gold Project Generators
Gold Prospecting and Exploration
Gold Resource Definition/Pre Feasibility
Gold Resource Expansion/Feasibility Study/PEA

By selecting company or companies above, you are giving consent to receive email from those companies. And remember you can unsubscribe at any time.

Comments

Leave a Reply