Nemaska Lithium was last week’s top gaining TSXV stock, followed by Stonegate, Foraco, Alamos, and Dalradian.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell slightly last week, decreasing 1.56 percent to 799.24 points.
A number of companies on the TSXV saw weekly percentage gains, with some as high as 25 percent.
Stocks that rose last week were most notably in the precious metals and agricultural sector.
The top five gainers for the week were:
- Nemaska Lithium (TSXV:NMX)
- Stonegate Agricom (TSXV:ST)
- Foraco International SA (TSXV:FAR)
- Alamos Gold (TSXV:AGI)
- Dalradian Resources (TSXV:DNA)
Here’s a closer look at those companies:
First on last week’s top 5 gaining TSXV stocks is Nemaska Lithium. The company intends to become a lithium supplier to the emerging battery market that is largely driven by electric vehicles, cell phones, tablets and other consumer products. The corporation is developing one of the most important deposits in the world in terms of in volume and grade.
On September 6, Nemaska announced that its drilling campaign for the Whabouchi lithium project was expanded from 44 drill holes to 50 holes after the company encountered a new lithium bearing zone. A total of twelve holes intercepted the new mineralized zone.
Last week, shares of the company rose 19.49% percent to finish at $1.41.
Stonegate Agricom acquires and develops agricultural nutrient projects, currently focusing on the development of its Paris Hills Phosphate Project in Idaho.
On September 7, Stonegate recommenced work on permitting at its Paris Hills Project. With the recommencement of permitting work, the company now expects to submit its three major permit applications before the end of 2016. The company also announced that Brian R. Zatarain (managing partner at Zatarain Resources and an advisor to Zaff Entities) joined its Board of Directors.
Last week, shares of the company increased by 25 percent to $0.025.
Foraco International SA
Foraco International SA’s shares increased 20 percent to finish the week at $0.48.
Foraco is a leading global provider of mineral drilling services. Despite announcing in August that its second quarter in 2016 had a 26 percent loss compared to 2015, analysts declared it a buy and the price stayed strong. The company is actively preparing for the next growth phase of the metallic commodities cycle.
Fourth on last week’s top 5 TSXV stocks is Alamos Gold, whose shares increased 1.46 percent to $10.40.
Alamos is a Canadian-based intermediate gold producer with production from three operating mines, including the Young-Davidson mine in northern Ontario, Canada, and the Mulatos and El Chanate mines in Sonora, Mexico.
The company announced on September 12 that it had updated its mineral resource estimate for its La Yaqui project, increasing the estimate by 93 percent to 447,000 ounces total.
Closing out last week’s top 5 TSXV list is Dalradian Resources, whose shares increased by 2.04 percent to $1.50 last week.
Dalradian is a gold exploration and development company that is focused on advancing its high-grade Curraghinalt Gold Project located in Northern Ireland, United Kingdom. The company recently reported that they had recovered 54 percent more gold than predicted at its Curraghinalt gold project in northern Ireland.
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.
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Securities Disclosure: I, Sarah Jamieson, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Nemaska Lithium is a client of the Investing News Network. This article is not paid-for content.
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