Top 5 Junior Gold Stocks on the TSXV (Updated October 2022)
Which TSXV-listed junior gold stocks have performed the best so far this year? Our list includes the five biggest gainers.
Click here to read the latest best junior gold stocks article.
The third quarter was tough for gold, which continued to move downward after a stellar Q1 during which it hit a year-to-date high of US$2,069 per ounce in the weeks following Russia's invasion of Ukraine.
Gold closed the third quarter at US$1,671.75. After a bounce back above US$1,700, it had moved back to around $1,660 as of October 17. Gold wasn't alone in its price decline though, as global stock markets and commodities also fell significantly last month. Of course, this affected companies operating in the gold sector as well.
Nick Santiago of IntheMoneyStocks.com joined the Investing News Network to discuss gold's performance in late Q3, and while he thought that gold still had further to drop, he planned to use that as an opportunity.
"There are going to be bounces in gold, but I still believe that we're probably headed to that US$1,500 area," he said. "If we breach US$1,500, we'll go to US$1,450. But down to US$1,500 I will be a heavy buyer of the precious metal."
This best junior gold stocks list shows the TSXV-listed gold companies with the biggest year-to-date share price gains. It was generated on October 13, 2022, using TradingView’s stock screener, and all stocks included had market caps above C$10 million at that time.
Year-to-date gain: 196.43 percent; market capitalization: C$394.77 million; current share price: C$0.415
Reunion Gold is focused on the Guiana Shield, with projects in Guyana, Suriname and French Guiana. The company has a 50/50 alliance with Barrick Gold (TSX:ABX,NYSE:GOLD) for its NW Extension in Suriname. Its primary focus is its Oko West project in Guyana, where it has spent much of 2021 and 2022 drilling.
After seeing positive share price movement early in the year, Reunion Gold has continued that trend. On February 24, the company drilled its two deepest gold intercepts at Oko West. Its share price climbed to a Q1 high of C$0.35 on March 29. In May, Reunion commenced trading on the OTCQB under the ticker symbol RGDFF, which led to another share price gain for the company.
In Q3, the company continued to see movement. On September 7, Reunion provided a corporate update and announced “significant” gold intersections at Oko West’s Kairuni zone. Highlights include 5.19 grams per metric ton (g/t) over 52.5 meters. The company's share price moved from C$0.30 to C$0.41 over the week following the release, a new year-to-date high.
Year-to-date gain: 144.44 percent; market capitalization: C$31.08 million; current share price: C$0.22
Tower Resources is operating out of BC, Canada, with its focus set on advancing its 100 percent owned Rabbit North copper-gold, Nechako gold-copper-silver and More Creek gold-silver projects, the last of which is located in BC’s Golden Triangle.
Tower has continued to explore Rabbit North in 2022 after its 2021 diamond drill program discovered a new gold zone that it named the Golden zone. The company has since discovered another gold zone, the Lightning zone, and its share price moved up the week following the June 7 announcement, hitting a year-to-date high of C$0.36.
Since June, Tower has focused on exploring and expanding Lightning, and its most recent till samples on October 5 show “a new, much coarser grained and thus higher grade gold dispersal train” at the property. The tills graded 3.9 g/t and 21.67 g/t gold.
Year-to-date gain: 50 percent; market capitalization: C$12.5 million; current share price: C$0.30
Rackla Metals is an exploration company with a portfolio of gold projects in Yukon’s Tombstone Belt, and it is currently adding more. Altogether, its project footprint totals 46,000 hectares between Yukon and the Northwest Territories.
Rackla’s share price was steady throughout the first two quarters of the year. In Q1, its planned acquisition of Golden Mining and the Misisi project was canceled after Rackla determined it could not meaningfully advance Misisi. Q2 brought an August exploration update, in which the company staked three new claim groups in Yukon that it intends to combine with its Rivier project.
Its biggest news of the year came on September 20, when Rackla entered into an option agreement for 100 percent interest in the Astro gold property in the Northwest Territories. The news shot the company's share price up over C$0.10, peaking at a year-to-date high of C$0.34. Since then, it has entered 100 percent interest option agreements for the Hit property and the SER property, both of which are located in Yukon’s portion of the Tombstone Belt.
Year-to-date gain: 50 percent; market capitalization: C$12.39 million; current share price: C$0.105
Falcon Gold has a portfolio of projects that stretches across the Americas. Its flagship is the Central Canada gold-cobalt-polymetallic project in Ontario, and it also has a strong focus on its gold projects in Newfoundland. The company’s South American projects are the Esperanza gold-silver-copper project in Argentina and the Viernes project in Chile, which is prospective for gold, silver and copper.
In June, Falcon Gold expanded its portfolio to include battery metals projects with the acquisition of the Timmins West nickel-copper-cobalt project in Ontario and the Outarde nickel-copper-cobalt project in Quebec. Falcon discussed these acquisitions, its current exploration and its other plans for the year in an August 2 corporate update, the release of which drove its share price from C$0.085 on July 29 to C$0.125 by August 5, a year-to-date high for the gold company.
Falcon Gold ended September, a month in which its price had trended downwards, with the announcement that its shareholders had approved a spinout for its wholly owned subsidiary Latamark Resources. The Esperanza project will be transferred to the new company. That news, alongside the completion of an airborne magnetic survey at its Gaspard gold project in BC, drove the company’s share price back up significantly. In October, Falcon announced the acquisition of another battery metals property in Quebec.
Year-to-date gain: 48 percent; market capitalization: C$46.7 million; current share price: C$0.185
GoldQuest Mining has gold and copper properties in the Dominican Republic. Its primary focus is the development of the Romero project, and according to the company, its board and management team have experience developing a mine in the country that is still in operation. GoldQuest is also exploring its Tireo property.
GoldQuest shares jumped from C$0.14 to C$0.30 to start the year, and fluctuated within a range of C$0.24 to C$0.36 through mid-April, although during that time the company only released one piece of news. That came on March 31, when it provided an update on Romero. GoldQuest is working with the Dominican Republic government to receive an exploitation license for the property, but does not yet have a timeline on when that could be granted.
Although it didn’t release further news until June 2, GoldQuest’s share price fell in late April before settling around C$0.16 in May. Its June news, the appointment of Luis Santana Pereyra as CEO, provided the firm with a bump. The only news to come since then is that Santana Pereyra has now taken up the position, and is also a director of the company.
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Securities Disclosure: I, Lauren Kelly, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Falcon Gold is a client of the Investing News Network. This article is not paid-for content.
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