Last week’s top gainers on the TSX were Compass Gold, Southern Silver, Amarc Resources, Sintana Energy and Aguia Resources.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last week up at 624.77 points, increasing 0.36 percent.
Global stocks rose on April 12, with investors still looking for signs of stabilization in China’s economy, which would ease worldwide growth worries.
Looking over to commodities, gold prices steadied that day, while silver was down slightly. Meanwhile, base metals saw prices drop across the board, with copper, nickel and lead performing on a downtrend during the five day period.
That said, a number of stocks in the mining sector saw share price increases, including:
- Compass Gold (TSXV:CVB)
- Southern Silver Exploration (TSXV:SSV)
- Amarc Resources (TSXV:AHR)
- Sintana Energy (TSXV:SEI)
- Aguia Resources (TSXV:AGRL)
Here’s a look at those companies and the factors that moved their share prices last week.
Compass Gold holds exploration permits in Southern Mali, covering three sites on the Sikasso property: Yanfolila North, Yanfolila South and Kalé.
The company’s share price has been on an uptrend since March, when Compass Gold announced promising drill results at its Ouassada exploration permit, which is part of the Yanfolila North block.
On April 8, the company announced a private placement for up to US$2 million to be used to further advance Sikasso. Its shares increased 48.48 percent during the five day period to reach C$0.49.
Southern Silver Exploration
Precious metals exploration and development company Southern Silver Exploration’s flagship is the Cerro Las Minitas silver-lead-zinc asset located in the heart of Mexico’s Faja de Plata. The project is a joint venture between Southern Silver and Electrum Global Holdings. The company also owns a 100 percent interest in the Oro porphyry copper-gold project located in Southern New Mexico.
The company did not release any news last week, but shares of Southern Silver saw an increase of 45.71 percent to reach C$0.25.
British Columbia-based Amarc Resources is engaged in the exploration and development of copper mines. The company has a 100 percent interest in the DUKE, IKE and JOY porphyry copper districts.
The most recent news from Amarc came in January, when the company announced that Hudbay Minerals (TSX:HBM,NYSE:HBM) had relinquished its options to earn interests in the IKE copper-molybdenum project and the JOY gold-copper project. The company said it is now considering new funding partners.
Last week, shares of Amarc jumped 40 percent to close the five day period at C$0.07.
Sintana Energy is focused on acquiring oil and gas assets in South America, where it is currently undertaking exploration and development activities in Colombia’s Magdalena Basin.
In 2012, Sintana Energy announced the farmout of a 70 percent participation interest in its unconventional oil resources on the VMM-37 block in Colombia to major ExxonMobil (NYSE:XOM). The agreement allowed Sintana to retain 100 percent of all conventional resources while ExxonMobil pays 100 percent of the exploration and development costs for the first two wells.
Sintana did not release any news last week, but the company’s share price saw a spike of 38.1 percent to close the five day period at C$0.14.
Aguia Resources saw an increase of 33.33 percent to close the five day period at C$0.16.
The company is focused on developing phosphate assets in Rio Grande do Sul, Brazil. The Rio Grande deposits are the Três Estradas, Joca Tavares and Porteira carbonatite-hosted phosphate assets and the Cerro Preto sediment-hosted phosphate property. The company also holds interests in the Lucena phosphate project and the Rio Grande Copper Belt.
Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the basic materials and energy sectors are considered.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.