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The top gainer on the TSX Venture Exchange this past week was Lago Dourado Minerals. It was followed by Northern Vertex Mining, Adriana Resources, Canada Carbon and Sandspring Resources.
The TSX Venture Exchange closed May 1 at 699.43 points to finish a few points up from its position at the end of the previous week.
Lago Dourado Minerals (TSXV:LDM), Northern Vertex Mining (TSXV:NEE), Adriana Resources (TSXV:ADI), Canada Carbon (TSXV:CCB) and Sandspring Resources (TSXV:SSP) are the companies listed on the exchange that saw the biggest gains this past week. Here’s a look at what moved their share prices.
Lago Dourado Minerals
Lago Dourado Minerals saw the biggest gain this week, rising 45 percent to finish trading at $0.15. Interestingly, Lago Dourado does not currently have any active projects, as it sold its Juruena and Novo Astro projects to Crusader Resources (ASX:CAS) in July 2014.
The company engaged in a share consolidation at the beginning of April, but did not release any news this week to explain the rise in its share price.
Northern Vertex Mining
Exploration and mining company Northern Vertex targets properties in the US and Canada, with its main focus being the Moss Mine gold–silver project in Arizona. Northern Vertex intends to complete its feasibility study for that project this quarter.
As with Lago Dourado, the company did not release any news this week; nevertheless, its share price reached $0.22 following a 41.94-percent gain.
Adriana Resources
Canadian exploration and development company Adriana Resources’ current focus is the Lac Otelnuk iron ore project in Quebec, and on April 22 it completed a feasibility study for that project. Although the company didn’t put out any news this week, its share price grew 40.91 percent to hit $0.16.
Canada Carbon
Canada Carbon’s share price gained 33.33 percent to reach $0.28 on Friday. The junior exploration company has 100 percent ownership of three graphite projects in Quebec.
On May 1, the company revealed thermal upgrading results for hydrothermal lump/vein graphite concentrate from its Miller project. Specifically, a randomly selected run-of-mill sample of the flotation concentrate was directly upgraded to 99.9998 percent C(t) purity “through thermal treatment alone.”
R. Bruce Duncan, executive chairman and CEO of Canada Carbon, commented, “[w]ith these new results in hand, demonstrating proof of concept for the direct upgrading of our Miller HLV graphite concentrate to approximately 6N purity, we have already entered into advanced discussions with potential end-users. Our intent is to obtain indicative pricing for both the flotation concentrate and the thermally upgraded material, which can then be included in our Preliminary Economic Assessment (PEA) for the Miller Project.”
Sandspring Resources
Finally, Sandspring Resources, which wholly owns the Toroparu gold project in Guyana, announced that it’s received its first payment from Silver Wheaton (TSX:SLW,NYSE:SLW). The US$500,000 payment is related to Silver Wheaton’s agreement to pay Sandspring a total of $5 million for 50 percent of payable silver production from Toroparu. Prior to receiving the funds, Sandspring satisfied a condition to receiving them.
The company’s share price climbed 31.25 percent on those pieces of news to reach $0.11.
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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