The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose slightly last week by 3.3 percent to 833.29. Year-to-date, however, the index is up 58.52 percent, or a jump of 307.63 points.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose slightly last week by 3.3 percent to 833.29.
Year-to-date, however, the index is up 58.52 percent, or a jump of 307.63 points.
A number of companies on the TSXV saw strong weekly percentage gains as well, with some rising over 90 percent for the five day period.
The top five gainers for the week were:
- Almadex Minerals (TSXV:AMZ)
- American Manganese (TSXV:AMY)
- Cava Resources (TSXV:CVA)
- Orla Mining (TSXV:OLA)
- MDN (TSXV:MDN)
Here’s a closer look at those companies:
Almadex Minerals came out on top on last week’s TSXV list, with its shares rising 95.26 percent to $0.88. Year-to-date, the company’s shares have risen sharply by 467.74 percent.
Almadex currently has exploration programs underway in Mexico, Canada and the US. The company announced on August 8 that it had completed its diamond drill hole EC-16-010 to a depth of 776.51 on the Norte Zone on its 100 percent owned El Cobre porphyry copper-gold project in Mexico.
American Manganese held the number two position on the TSXV for the second week in a row, with its shares rising 90 percent to reach $0.19. Year-to-date, however, American Manganese’s shares have risen sharply by 850 percent.
According to the company’s website, American Manganese plans to produce electrolytic manganese for the steel and rechargeable battery markets. Of note, its Artillery Peak property is the largest known manganese deposit in the Southern United States. Last week, American Manganese announced a $1 million private placement, proceeds of which will be used to continue metallurgical testing of its proprietary hydrometallurgical process for large-scale recylcing of lithium-ion batteries.
Cava Resources owns interest in properties in the White Gold District of Yukon, and aso has a 49 percent interest in the 33 claim Beschefer Property, and maintains a 70 percent interest in the Casa Berardi project.
Last week, shares of Cava Resources rose 56 percent to $0.78, however its year-to-date increase is significantly more at 1,460 percent.
Orla Mining’s shares rose 52.94 percent over a five-day period last week to $1.04. Like Cava Resources, Orla’s year-to-date gains are significantly more at 642.86 percent.
The company holds a 50 percent interest in the Blue Quartz Gold Property in Ontario.
Rounding out last week’s top five TSX stocks is MDN Inc., who is actively developing the Crevier project, a niobium and tantalum resource in the Saint-Jean region in Quebec. The company also started an exploration program on its 100 percent owned Samaqua property in 2015.
On August 4, MDN announced the closing of a non-brokered private placement of $1,795,000.
Last week, the company’s shares rose 50 percent to $0.135 over a five day period, and has steadily increased 285.71 percent year-to-date.
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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, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
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