Antioquia Gold was the top-rising resource stock on the TSXV last week. It was followed by GPM Metals, Adventure Gold, Lion One Metals and Athabasca Minerals.
Last week, the S&P/TSX Venture Composite index (INDEXTSI:JX) took back some losses, rising 5.11 percent to finish at 552.26 points.
Several resource stocks caught the upward swing to see some gains. Rising the most was Antioquia Gold (TSXV:AGD); it was followed by GPM Metals (TSXV:GPM) Adventure Gold (TSXV:AGE), Lion One Metals (TSXV:LIO) and Athabasca Minerals (TSXV:ABM).
Antioquia Gold was the top gainer on the TSXV last week, rising 150 percent to close at $0.10. The company is focused on its flagship Cisneros project in Colombia, where it’s targeting production by July 2016. The mine is set to produce roughly 30,000 ounces of gold per year. Last week, Antioquia put out now news that would explain its share price rise.
GPM Metals currently holds interests in the Walker Gossan base metals project in Australia’s Northern Territory, and the Weebigee gold project in Ontario. Most recently, GPM provided an update on exploration work at Weebigee, as well as at its Sandy Lake East property in Ontario; it also announced the acquisition of the Pasco project in Peru. However, last week there was no news that would explain the company’s share price rise — it jumped 79 percent to end at $0.215
Last week, Adventure Gold was up 37 percent, at $0.185, after optioning part of its Detour Quebec property to SOQUEM, a wholly owned subsidiary of Ressources Quebec. The company announced on Wednesday that SOQUEM will be granted the option to acquire up to a 50-percent undivided interest in the properties, and to create a joint venture once the option is exercised.
“Adventure Gold is very pleased to begin a partnership with SOQUEM to explore and develop this gold project with great potential,” said Adventure Gold President and CEO Marco Gagnon. “We have already identified quality drilling targets on several sectors and we look forward to begin this winter a $700,000 drilling program to test it.”
Lion One Metals
Lion One Metals gained roughly 34 percent last week, closing at $0.39 on Friday. The company currently owns the Tuvatu gold project in Fiji, for which it released a preliminary economic assessment in July. Lion One participated in CEO.ca’s Subscriber Investment Summit in Vancouver last Thursday, but did not release any news that would explain its share price gain.
Athabasca Minerals rounds out last week’s top five; it rose approximately 28 percent during the period to hit $0.335. The company operates the Susan Lake aggregate operation in Alberta, the largest open-pit gravel pit in Canada. On October 6, the company announced that Dom Kriangkum had resigned from its board of directors, but will still be available in a consulting capacity. There was no additional news that would explain last week’s rise in share price for the company.
Data for TSXV Top 5 articles is retrieved each Friday. Only companies with a market capitalization greater than $10 million are included.
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
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