5 Top Weekly TSXV Stocks: Novo Resources Gains on Gold Discovery

Last week's other top-gaining TSXV stocks were Africa Hydrocarbons, Montero Mining and Exploration, Sirios Resources and Asian Mineral Resources.

weekly TSXV stocks

The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose 0.27 percent on Friday (June 14) to end at 754.97 points.

The Canadian dollar was up to $0.79 against the greenback just days after the Bank of Canada raised interest rates for the first time in seven years. Gold gained about 1 percent as the US dollar fell on the back of flat US inflation data and a fall in retail sales in June. Energy stocks rose on firming oil prices.

Against that backdrop, a number of  TSXV-listed mining stocks experienced significant share price gains last week. The five top gainers are as follows:

  • Novo Resources (TSXV:NVO)
  • Africa Hydrocarbons (TSXV:NFK.H)
  • Montero Mining and Exploration (TSXV: MON)
  • Sirios Resources (TSXV:SOI)
  • Asian Mineral Resources (TSXV:ASN)

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

Novo Resources

Last Wednesday (July 12), Novo Resources announced the discovery of gold nuggets at its Purdy’s Reward prospect, noting that it has collected a bulk sample for testing purposes. Purdy’s Reward is part of the firm’s Karratha gold project in Western Australia, and Novo is exploring it with Artemis Resources (ASX:ARV), its joint venture partner.

Earlier in July, the company signed a memorandum of understand with Japanese firm Sumitomo (TSE:8053) to develop its Beatons Creek project in Western Australia. Although Novo is primarily focused on projects in the Pilbara region of Western Australia, it also owns a property in Nevada. The company’s share price gained 67.47 percent to close last week at $1.35.

Africa Hydrocarbons

Africa Hydrocarbons is an exploration-stage company focused on developing petroleum and natural gas projects in North Africa. On June 27, the company consolidated its share capital on a 20-for-one basis. 

The company has released few updates lately about its projects or activities. It used to have an interest in the Bouhajla project located in Tunisia, but sold it to DualEx Energy in 2015. DualEx has since changed its name to Return Energy (TSXV:RTN). Last week Africa Hydrocarbons’ share price rose 66.67 percent to close at $0.55.

Montero Mining and Exploration

Montero announced an eight-to-one share consolidation on July 13. Shareholders approved the consolidation at a meeting on June 30; another outcome of the meeting was the company’s announcement that it has reached agreements to settle an aggregate of $820,270 in debt.

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Montero has rare earths and phosphate projects in Tanzania and South Africa. Its primary asset is an 82-percent interest in the Wigu Hill property in Tanzania, where high-grade rare earths have been identified through drilling, sampling and trenching efforts. The company’s share price rose 56.25 percent to close at $0.25 last week.

Sirios Resources

Sirios Resources’ flagship project is its Quebec-based Cheechoo-Eleonore-Trend gold project, which is made up of 145 claims adjacent to Goldcorp’s (TSX:G,NYSE:GG) Eleonore gold mine. The company has not released any news since the beginning of June, when it announced the discovery of four gold anomalies at Cheechoo-Eleonore-Trend. Sphinx Resources (TSXV:SFX) is Sirios’ partner on the project. 

Although it did not put out any news, Sirios’ share price rose 37.93 percent over the course of last week to close at $0.42

Asian Mineral Resources

Asian Mineral Resources owns the Ban Phuc nickel mine in Vietnam, which began producing in mid-2013. Its most recent news came in April, when it entered into a net smelter royalty agreement with Cobalt 27 Capital (TSXV:KBLT), a company aiming to offer investors access to physical cobalt.

Though the company has released no news since then, its share price rose 33.33 percent to close at $0.02.

Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST 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: Mountain Boy Minerals Up on Golden Triangle News

By Melissa Shaw, July 9, 2017

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 0.61 percent on Friday (July 7) to end at 755.22 points.

The index fell on North American jobs data that supports expectations that central banks will raise interest rates in the US and Canada. The US added 222,000 jobs in June, higher than Wall Street expectations of 175,000, while Canada added 45,300 jobs, ahead of the anticipated 10,000.

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:

  • Ashburton Ventures (TSXV:ABR)
  • Gold Reserve (TSXV:GRZ)
  • Mountain Boy Minerals (TSXV:MTB)
  • Strata Minerals (TSXV:SMP.H)
  • Meridian Mining (TSXV:MNO)

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

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Ashburton Ventures

Ashburton Ventures is a diversified exploration company with lithium, graphite, copper-gold, zeolite, chabazite and cannabis projects in Quebec and BC.

On July 5, the firm announced that sample data from lab results indicates that cannabis plants potted with zeolite and zeolite-carbon blends show a high retention of key macronutrients in the root zone. The news sent the company’s share price up 45 percent to close at $0.16.

The company applied to the BC Ministry of Energy and Mines for permits to develop its TransCanada zeolite property last month. The project is jointly operated with ZMM Canada Minerals.

Gold Reserve

Gold Reserve provided an update on its Brisas Cristinas project last week; it is 55-percent owned by its subsidiary, and 45 percent owned by Venezuela. The company said its next payment under a settlement agreement with the Venezuelan government is expected on July 10. The government’s monthly payments will continue until July 2019.

An updated feasibility study and environmental impact statement are currently in the works for Brisas Cristinas. A preliminary economic assessment is expected to be ready in the next few months as well. The company’s share price rose 36.11 percent over the course of last week to close at $4.70.

Mountain Boy Minerals

Mountain Boy Minerals is a Canada-based exploration company that has properties around the Stewart region in BC’s Golden Triangle.

On July 5, the firm reported that Phase I drilling continues at its Red Cliff property. The company recently completed a petrographic study that is ”greatly aiding the 2017 exploration,” and it has started to identify rock formations at the site. Three holes in the Montrose zone on the property contain “visible gold at depths deeper than expected.”

The next day, Mountain Boy released another update explaining that moving forward it also plans to focus on its other Golden Triangle properties. Those include a zeolite property and its Surprise Creek and BA properties. The company’s share price rose 33.33 percent to close at $0.07 last week.

Strata Minerals

Strata Minerals’ most recent news came on June 30, when it acquired the Arnett Creek gold project in Idaho. The company plans to continue developing the advanced-stage exploration project with a focus on the Little Chief Extension target.

In addition, Strata said it has taken steps to change its name to Revival Gold in order to better reflect its new direction. Once regulatory approval is granted it will trade under the symbol RVG on the TSXV. Company CEO Hugh Agro said at the time that the change “marks the Company’s transition to gold and focus on growth in brownfields mining camps.”

The firm did not release any news last week, but its share price rose 28.57 percent to close at $0.50.

Meridian Mining

Meridian Mining is focused on its Espigao manganese project and Bom Futuro tin joint venture property in Brazil. Most recently, on June 21, Meridian signed a contract for the sale of 20,000 tonnes of high-grade manganese from Espigao to an unnamed international customer.

Anthony Julien, president and CEO of Meridian Mining, said, “the sale marks an important milestone for Meridian, and represents approximately one-third of our estimated production for 2017.” Julien added that commissioning of the company’s pilot plant is expected in the coming weeks and said the firm is “well on the way to growing production capacity to 50,000 tonnes per annum.”

The company did not release any additional news last week, but its share price rose 27.59 percent to close at $0.74.

Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST 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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