Gold copper and manganese stocks led the way in last week’s top 5 TSXV list.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) saw small increase last week, rising 2.19 percent to 806.69 points.
Year-to-date, however, the index is up 53.46 percent, for a jump of 281.03 points.
A number of companies on the TSXV saw strong weekly percentage gains, including gold and copper stocks, with one company rallying as high as 187.5 percent over the five-day period.
The top five gainers for the week were:
- Galway Metals (TSXV:GWM)
- American Manganese (TSXV:AMY)
- Sirios Resources (TSXV:SOI)
- Galway Gold (TSXV:GLW)
- Ecuador Gold and Copper (TSXV:EGX)
Here’s a closer look at those companies:
Up first on last week’s TSXV list is Galway Metals, who began trading just over three and a half years ago. The company has recently entered into an option agreement to acquire 100 percent interest in Wolfden Resources’ (TSXV:WLF) Clarence Stream gold district in New Brunswick.
Over a five-day period, Galway’s shares have increased 187.6 percent to $0.46 as of August 5. Year-to-date, the company’s shares have steadily risen 384.21 percent.
Second on the list is American Manganese, whose shares have increased 122.22 percent to $0.10 over the five-day period. Year-to-date, the company’s gains are also strong, rising 400 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 Phase I recycling results for lithium and cobalt using the company’s patented process.
Sirios Resources is focused on discovering gold deposits in Quebec. However the company has also discovered numerous showings of both gold and silver, some at high grades. Sirios has a number of high potential projects, including the Cheechoo, Aquilon and Pontax projects.
On August 4, the company announced it had acquired 100 percent of the Aquilon property.
Last week, Sirios’ shares rose 61.36 percent to $0.71. Year-to-date, the company’s gains are significantly more, with shares rising by 610 percent overall.
Last week, Galway Gold’s shares rose 50 percent to $0.09. However the company’s year-to-date increase is only 20 percent.
Galway, through its wholly owned Colombian subsidiary, holds an option to acquire a 100 percent interest in the Reina de Oro gold concession in the Vetas gold district of Colombia.
Galway Gold has not released any news updates on its website since February 24, 2016, wherein the company commented on Colombia’s constitutional court rescinding mining operations in the Paramo.
Ecuador Gold and Copper
Last but not least on the TSXV list is Ecuador Gold and Copper, whose shares rose 48.15 percent over a five-day period to $0.60. Year-to-date, Ecuador Gold and Copper’s shares have increased 140 percent overall.
Ecuador Gold and Copper is focused on its Condor project in southern Ecuador. Shares of the Ecuador Gold and Copper jumped last week after Odin Mining and Exporation (TSXV:ODN) announced that it would acquire the company.
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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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