5 Top TSXV Stocks: Golden Arrow Resources Leads the Pack
Golden Arrow Resources was the top gainer from the mining space last week, followed by Metanor Resources, Terraco Gold, Goldrock Mines and Pacific Booker Minerals.
The S&P/TSX Venture Composite index (INDEXTSI:JX) was up slightly to close last week, finishing up 0.27 percent at 521.99 points.
Several resource stocks were on the rise as well. Golden Arrow Resources (TSXV:GRG) was the top gainer from the mining space last week, and it was followed by Metanor Resources (TSXV:MTO), Terraco Gold (TSXV:TEN), Goldrock Mines (TSXV:GRM) and Pacific Booker Minerals (TSXV:BKM,AMEX:PBM).
Golden Arrow Resources
Golden Arrow gained 15.79 percent last week to finish at $0.22. The company is focused on its flagship Chinchillas silver project in Jujuy, Argentina. The company filed an amended technical report for Chinchillas on November 2, but there has been no further news from the company that would explain last week’s rise in share price.
That said, it is worth noting that Mauricio Macri was elected as president of Argentina last Sunday. Golden Arrow Chairman and CEO Joseph Grosso said in October that the election would bring positive changes for mining in the country whatever its outcome.
Focused on Quebec’s Abitibi region, Metanor Resources is a Canadian gold producer operating the Bachelor mine in Quebec’s Abitibi region. The company also has interests in a number of other exploration properties in Quebec and Ontario.
On November 11, Metanor reported drill results from the area south of the Bachelor mine, with highlights including an intercept of 18.9 g/t gold over 5.6 meters near surface. However, there has been no further news from the company to explain last week’s rise in share price. Metanor’s share price was up 14.29 percent for the week.
The share price of junior gold mining company Terraco Gold was up 13.64 percent last week. The company holds a number of gold royalties and royalty options, including the Spring Valley project in Nevada, currently a joint venture operated by Barrick Gold (TSX:ABX,NYSE:ABX). There has been no recent news from the company that would have driven last week’s share price rise.
Goldrock Mines holds the Lindero heap leach gold project in Northwestern Argentina, as well as the Arizaro copper-gold deposit 3 kilometers away. Near the end of September, Goldrock provided an update on development at the mine, reporting that it expected an updated technical report for the project in November 2015. However, there has been no further news that would explain the rise in share price for the company last week. Goldrock was up 12.2 percent to close at $0.23 on Friday.
Pacific Booker Minerals
Finally, Pacific Booker’s share price was up 7.85 percent, at $2.06, to finish the week. The company is focused on developing its Morrison project in British Columbia, but is experiencing delays — it won the right to have its environmental assessment for Morrison reconsidered after it was rejected by the provincial government in 2012, but the assessment was put on hold following the 2014 Mount Polley tailings dam breach. Then, in July, the BC Environmental Assessment Office said that Morrison would need to undergo further assessment.
In September, Pacific Booker completed a private placement for $555,600 and added Michael McPhie as a consultant. There has been no additional news to explain the company’s rise in share price last week.
Data for 5 Top 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.
Securities Disclosure: I, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Pacific Booker Minerals is a client of the Investing News Network. This article is not paid for content.
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