5 Top TSXV Stocks: Renaissance Oil Leaps by 71.43 Percent

The S&P/TSX Venture Composite Index (INDEXTSI:JX) saw a significant increase last week, rising by 14.71 points to 730.44.
Now that we’re halfway through the year, overall, the index is up 38.96 percent for 2016, a spike of 204.78 points total.
For the period of July 2, 2015 to June 30, 2016, it’s up by 51.05, or 7.52 percent.
A number of companies on the TSXV, including those in the precious metals sector, saw strong weekly percentage gains.
The top five gainers for the week were:

• Renaissance Oil (TSXV:ROE)
• CanAlaska Uranium (TSXV:SNR)
• Gowest Gold (TSXV:GWA)
• Red Pine Exploration (TSXV:RPX)
• Radius Gold (TSXV:RDU)

Here’s a closer look at those companies:

Renaissance Oil

For the second week in a row, Renaissance Oil topped the list with gains of 71.43 percent.
The company is currently focused on developing projects in Mexico and Spain. On June 20, the company announced its first revenue from gas and oil operations, which made it the second largest petroleum producer in Mexico. Combined hydrocarbon production from Renaissance Oil’s three properties totaled approximately 1,700 barrels of oil equivalent per day.

CanAlaska Uranium

This week, CanAlaska Uranium jumped from fifth from the previous week to second on our TSXV list. Over a five-day period, the company’s shares have increased 68.75 percent to $1.35. Year-to-date, however, the company’s gains are much more significant—its shares are up 1,127.27 percent overall.
CanAlaska has two key uranium properties: the West McArthur Project and the Cree East Project. To date, over $86 million has been expended exploring and identifying high-grade uranium on the company’s properties with other uranium targets being delineated.
It appears that the company is getting into diamonds as well. Two weeks ago, it was announced that the De Beers’ exploration team collected over 100 samples for kimberlite indicator mineral processing from the Athabasca project.

Gowest Gold

Third on our list is Gowest Gold. The company is currently focused on developing its 100 percent owned Bradshaw Gold deposit and part of its North Timmins Gold Project. Last week the company announced they had entered into a negotiation agreement with Northern Sun Mining (TSXV:NSC) for use of the Redstone Mill to process materials from the Bradshaw project.
Over last week’s five-day period, Gowest’s shares rose 60 percent, a $0.06 increase, to $0.16. Year-to-date, the company has seen gains of 128.57 percent overall.

Red Pine Exploration

Next on the list is Red Pine Exploration, which is focused on gold and base metal exploration in Ontario. Last week the company announced results from the exploration of its expanded sampling program of gold zones in the Homblende Shear zone.
Over a five-day period, shares of Red Pine rose 58.33 percent to $0.19. Its year-to-date increase, however, is much more significant, as the company has made gains of 322.22 percent overall.

Radius Gold

Last but not least on last week’s TSXV list is Radius Gold. For the last few years or so, the company has been focusing on gold exploration in Central America, and has even discovered a variety of new gold deposits. In June, Radius provided an update that included their acquisition to earn a 100 percent interest in the Spring Peak gold property in Nevada from Kinetic Gold.
For the week, the company’s shares have gained 38.10 percent, to finish at $0.145. The company is up 141.67 percent year-to-date.
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