Critical Elements was the top gaining mining stock on the TSXV last week, followed by Northern Shield Resources, CB Gold, AQM Copper and Iconic Minerals
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was up 0.4 percent this week to 685.38.
Overall, the index is up 30.53 percent for 2016. According to the Financial Post, this makes it “by far and away the best performing index among the 27 global exchanges with market caps in excess of US$1 billion.”
For the period May 21, 2015 to May 20, 2016, it’s down by 9.17, or 1.32 percent. Still, the year-to-date increase is hopeful.
A number of companies saw strong weekly percentage gains. The top five gainers for the week were:
- Critical Elements (TSXV:CRE)
- Northern Shield Resources (TSXV:NRN)
- CB Gold (TSXV:CBJ)
- AQM Copper (TSXV:AQM)
- Iconic Minerals (TSXV:ICM)
Here’s a closer look at those companies:
Shares of Critical Elements rose 73.13 percent last week to $0.24, and is up 213.51 percent for the year-to-date. The company also announced mid-week a $5 million bought deal common share financing with Canaccord Genuity on a private placement basis at a price of $0.37.
Northern Shield Resources
Over the last five days, Northern Shield Resources saw a 54.55 percent increase to $0.06. Overall, the company has gained 1,033.33 percent year-to-date. Northern Shield is focused on exploring for platinum group element deposits and Noril’sk type nickel-copper deposits in Quebec. Earlier in May, the company released its latest announcement wherein 2,000,000 warrants issued as part of the private placement announced in April had been exercised at a price of $0.05 for a total of $100,000.
CB Gold was the subject of a takeover battle between fellow Colombia-focused gold miners Red Eagle Mining (TSXV:RD) and Batero Gold (TSXV:BAT) last year, with Red Eagle eventually taking a controlling stake in CB in late 2015. Shares of CB Gold gained 50 percent last week to $0.15, and have increased 233.33 percent for the year.
AQM Copper is currently exploring and developing copper deposits in Peru with a focus on the Zafranal property. There has been no company news since July 2015, however shares have gained 41.18 percent to $0.12 for the week, and have risen 200 percent so far this year.
Finally, Iconic Minerals has jumped 700 percent over the year. The company’s shares over the last five days have seen an increase of 39.13 percent to $0.32. Iconic Mineral’s main focus is to discover and develop economical and multi-million ounce gold deposits and is located primarily in Nevada. Earlier in May, the company announced an negotiation equity financing of up to $3 million
Data for 5 Top TSXV Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Companies within the mining and precious metals sectors are considered.
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Securities Disclosure: I, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Critical Resources is a client of the Investing News Network. This article is not paid-for content.
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