Jayden Resources was last week’s top gaining TSXV stock, followed by Corsa Coal, Adex Mining, Los Andes Copper, and Nulegacy Gold.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the rise last week, making a small increase of 0.46 percent to 810.92.
A number of companies on the TSXV saw weekly percentage gains, some high as 80 percent.
Stocks that rose last week were most notably in the precious metals and base metals sector.
The top five gainers for the week were:
- Jayden Resources (TSXV:JDN)
- Corsa Coal (TSXV:CSO)
- Adex Mining (TSXV:ADE)
- Los Andes Copper (TSXV:LA)
- Nulegacy Gold (TSXV:NUG)
Here’s a closer look at those companies:
First on last week’s top 5 gaining TSXV stocks is Jayden Resources. The exploration company focuses on acquiring gold and silver in Northern BC. Currently, the company is focused on its key asset, the Silver Coin project.
On September 6, Jayden Resources announced that it complete a non-brokered private placement with Eric Sprott as a lead investor, issuing up to 15,000 common shares and warrants at $0.08 each.
Last week, shares of the company rose 100 percent to finish at $0.20.
Corsa is one of the leading suppliers of premium quality metallurgical coal, an essential ingredient in the production of steel. The company holds two exploration properties – one in Pennsylvania and one in Maryland – with approximately 360 employees in the two operating divisions.
On August 10, Corsa successfully executed its fixed cost reduction initiatives, releasing some reclamation bond cash collateral (a total of US$757,000 in three months) to fund certain reclamation projects.
Last week, shares of the company increased by 80 percent to $0.04.
Third on last week’s top 5 TSXV stocks is Adex Mining, whose shares increased 50 percent to $0.015.
Adex Mining is focused on developing its flagship Mount Pleasant Mine Property, a multi-metal project one of North America’s largest tin resources.
Last year, they announced that they had repaid all of their loans earlier than expected to their largest shareholder, the Great Harvest Canadian Investment Company.
However, they announced that they would enter into another loan agreement in July 2016 with the same investor for US$1 million. The money is intended to pay outstanding accounts, operating costs, and provide working capital for their operations. Adex Mining has not released any other news since.
Los Andes Copper
Los Andes Copper is a Canadian exploration and development company focused on the acquisition, exploration and development of advanced stage copper deposits in Latin America. Recently, they have been focusing on their Vizcachitas project.
The most recent news was in March 2016 when they reported assay results that could point to higher grades of copper below the historical drilling site.
Last week, shares of Los Andes Copper rose 47.06 percent to reach $0.25.
Closing out last week’s top 5 TSXV list is Nulegacy Gold, whose shares increased 54.55 percent to finish the week at $0.425.
On July 15, the company announced that it had strengthened it treasury with $6.1 million in private placement financing. The net proceeds of the financing will be partially used to fund the company’s gold exploration programs.
Nulegacy also announced in August that it would be expanding its geotechnical team to support accelerating its exploration programs.
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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, Sarah Jamieson, hold no direct investment interest in any company mentioned in this article.
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