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The top gainer was Alexander Nubia International, which was followed by GeoMegA Resources, Tirex Resources, Zenyatta Ventures and Colt Resources.
The TSX Venture Exchange rebounded to 691 points on Friday following a midweek dip. However, the 0.8-percent improvement was not enough to offset earlier losses, and the exchange closed down overall.
Despite the decline, some stocks performed well during the week. The top gainer was Alexander Nubia International (TSXV:AAN), which was followed by GeoMegA Resources (TSXV:GMA), Tirex Resources (TSXV:TXX), Zenyatta Ventures (TSXV:ZEN) and Colt Resources (TSXV:GTP).
Alexander Nubia International
Precious and base metals exploration company Alexander Nubia posted the week’s top gain, with its share price climbing 40 percent to reach $0.14.
The company is focused on establishing ties within Egypt to develop two projects: the Abu Marawat gold–copper project and the Hamama gold-silver–zinc-copper project. The company did not release any news this week that would explain the increase in its share price.
GeoMegA Resources
GeoMegA Resources wholly owns the Montviel lanthanides/niobium project and the Anik gold project. The company is focused on development of those and future projects in Quebec. The company released no news this week, though its share price gained 30.56 percent to reach $0.24.
Tirex Resources
With six 25-year mining licenses within the Mirdita VMS District in Albania, exploration and development company Tirex Resources is committed to developing the region’s base metals resources. Its share price reached $0.24 this past week on a gain of 23.68 percent.
The company has not released any news since April 14, when it announced further metallurgical tests at the Mirdita project and revealed its intention to pursue further development at the recently acquired Rehova project.
Zenyatta Ventures
Zenyatta Ventures is focused on its Albany graphite deposit in Northeastern Ontario. The company’s share price rose 20.44 percent to end the week at $2.18 following a May 6 announcement that it’s not only successfully completed and tested a purification process for the production of high-purity graphite from Albany, but has also submitted all process flow sheet data to RPA, which will “produce a PEA report in the near term.”
Colt Resources
Exploration and development company Colt Resources is currently working on advanced-stage, high-grade gold and tungsten projects in Portugal. Colt Resources’ share price rose 20 percent to close the week at $0.27. The company did not release any news this week that would explain the improvement.
Data for TSXV Top 5 articles is retrieved and reported each Friday. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included.
Editorial Disclosure: Canada Carbon is a client of the Investing News Network. This article is not paid-for content.
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