5 Top Weekly TSXV Stocks: Camino Minerals Gains on Drill Results

Last week's other top-gaining TSXV stocks were Trigon Metals, Sama Resources, First Point Minerals and Newrange Gold.

weekly TSXV stocks

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last week at 824.92 points, up 0.08 percent.

Even so, on Friday (April 21), the index saw some pressure. While energy stocks gained despite a drop in oil prices, weak inflation caused a pullback in bank stocks, Reuters says. Global politics also continued to weigh on investors worldwide — in particular, France’s upcoming election was causing worries.

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

  • Camino Minerals (TSXV:COR)
  • Trigon Metals (TSXV:TM)
  • Sama Resources (TSXV:SME)
  • First Point Minerals (TSXV:FPX)
  • Newrange Gold (TSXV:NRG)

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

Camino Minerals

Camino Minerals is a discovery-oriented exploration company focused on high-grade copper and precious metals projects. The company primarily works in Peru, but also operates across North America.

On April 18, Camino released results from the first two drill holes at its Los Chapitos project, located in Southern Peru. The holes were completed as part of an initial drill program at Los Chapitos, and according to the company both intersected copper. The news sent Camino’s share price up 402.86 percent to close at $1.76.

Trigon Metals

Trigon Metals holds an 80-percent interest in five mining licenses in an area of Nambia known for its high-grade copper deposits. The licenses hold three past-producing mines, including the company’s flagship property, the Kombat mine.

On April 20, Trigon released an updated mineral resource estimate for Kombat. According to the company, Kombat now has an inferred mineral resource of 6.26 million tonnes grading 2.97 percent copper, 1 percent lead and 20.99 g/t silver. Trigon’s share price rose by 31.67 percent over course of the week to close at $0.40.

Sama Resources

Sama Resources’ main focus is the Samapleu nickel-copper project in Ivory Coast. The company also owns the Ivory Coast-based Lola graphite project, but is in the process of transferring the project to newly formed company Sama Graphite.

The company’s most recent news came on April 7, when it announced an increase in an equity financing. Last week, Sama’s share price gained 29.73 percent to close at $0.24.

First Point Minerals

First Point Minerals is focused on the exploration and development of properties containing awaruite, a naturally occurring metallic nickel-iron alloy. The company has a number of properties, but its flagship asset is the BC-based Decar project, where a preliminary economic assessment was completed in March 2013.

On April 3, First Point’s board of directors recommended that the company change its name to FPX Nickel. The company also announced plans to grant 2,550,000 stock options to directors, officers and consultants. Both of those decisions are subject to shareholder approval at a special meeting on May 25. The company’s share price rose by 26.32 percent last week to close at $0.12.

Newrange Gold

Newrange Gold is currently in the exploration phase at two sites in Colombia and one in the US. On April 11, the company announced that channel sampling has more than doubled the extent of mineralization at its Nevada-based Pamlico gold project from the amount announced the previous month.

Most recently, on April 17, the firm put out a call for up to $1.2 million in financing; it plans to use the proceeds for drilling and sample testing at Pamlico. Newrange’s share price gained by 22.41 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: Newrange Gold 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.

5 Top Weekly TSXV Stocks: Constantine Surges After Announcing Palmer Project Plans

By Priscila Barrera, April 16, 2017

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last week at 834.62 points, up 2.21 percent. It gained support from geopolitical tensions worldwide.

“We think risk is going to elevate, financial conditions will tighten; one is geopolitical risk, not only internationally, but with domestic [US] policy uncertainty on the tax bill,” said Eugen Weinberg of Commerzbank (OTCMKTS:CRZBY).

Similarly, Andres Jaime, a global FX and rates strategist at Barclays (LSE:BARC), told CNBC“I’d say it’s probably more of a Trump trade [reversing] than the geopolitics, but going forward I think the geopolitics is the topic the market is focusing on.” 

On the back of those conditions, a number of TSXV-listed mining stocks saw share price increases last week. The top-gaining companies were:

  • Asian Mineral Resources (TSXV:ASN)
  • Silvermet (TSXV:SYI)
  • Constantine Metals (TSXV:CEM)
  • Highway 50 Gold (TSXV:HWY)
  • Edgewater Exploration (TSXV:EDW.H)

Here’s a brief overview of those companies and the factors that moved their share prices last week. 

Asian Mineral Resources

Asian Mineral Resources owns and operates one of the world’s few new sources of nickel sulfide; it is also exploring for and developing additional high-grade nickel assets in Vietnam. On March 9, the company announced management changes and released its results for 2016.

Over the course of the week, Asian Mineral Resources’ share price spiked 40 percent to close at $0.03.

Silvermet

Silvermet operates an electric arc furnace dust recycling business in Turkey. It recovers high-grade zinc oxide concentrate from electric arc furnace dust from steel mills, and then sells it to smelters, primarily in Europe. The company has not released any news lately; nevertheless, its share price increased 66.67 percent last week to reach $0.10.

Constantine Metal Resources

Constantine Metal Resources is a base and precious metals exploration company focused on North American. The company’s flagship copper-zinc-silvergold Palmer project is located in southeast Alaska. On April 12, the company announced a $7-million 2017 budget for Palmer; some of the money will be used to complete 7,000 meters of drilling.

The news sent the company’s share price up 25.93 percent to end last week at $0.17.

Highway 50 Gold

Highway 50 Gold is an exploration-stage company engaged in the acquisition and exploration of assets in North America. It is focused on the Golden Brew property and the Porter Canyon project, and also holds another early stage prospect; all three are located in Nevada.

Most recently, the company said on April 6 that it has suspended drilling at its Monroe project in BC until sufficient time has elapsed to allow spring breakup to conclude. The company’s share price increased 14.55 percent last week to reach $0.63.

Edgewater Exploration

Edgewater Exploration is an exploration and mine development company focused on two advanced-stage gold projects with defined resources. Edgewater’s gold assets include the Corcoesto gold project in Spain and a 51-percent stake in the Enchi gold project in Ghana.

The company has not released any news since 2016, but last week its share price jumped 13.64 percent to reach $0.25.

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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