5 Top TSXV Stocks: Kootenay Silver Rises 64 Percent

Base Metals Investing
Copper Investing

Kootenay Silver was the top gaining mining stock on the TSXV last week, followed by Kaizen Discovery, Cascadero Copper, Callinex Mines and American Creek Resources.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was up 2.13 percent last week to 674.87
Overall, the index is now up 24.83 percent in 2016. As per the Financial Post, that makes the Venture “by far and away the best performing index among the 27 global exchanges with market caps in excess of US$1 billion.”
20 companies on the TSXV hit a 52-week high this week, and 19 out of those 20 came from the resource sector.
A number of companies saw strong weekly percentage gains as well. The top five gainers for the week were:

  • Kootenay Silver (TSXV:KTN)
  • Kaizen Discovery (TSXV:KZD)
  • Cascadero Copper (TSXV:CD)
  • Callinex Mines (TSXV:CNX)
  • American Creek Resources (TSXV:AMK)

Here’s a closer look at those companies:

Kootenay Silver

Shares of Kootenay Silver gained 64.71 last week to reach $0.41 after it was announced that Pan American Silver (TSX:PAA) had made another investment in the company to maintain its 10 percent ownership. The company is focused on its La Cigarra and Promontorio silver projects in Mexico.
“We are delighted with Pan American’s vote of confidence in not only our Promontorio Mineral Belt assets, but also the La Cigarra opportunity we have acquired through the business combination with Northair Silver Inc.,” said Kootenay Silver president and CEO James McDonald in a statement. “After the closing of the Second Tranche Investment, we will have a strong cash position to advance the La Cigarra project and pursue more potential consolidation and growth opportunities that will be accretive to the Kootenay shareholders.”

Kaizen Discovery

Kaizen Discovery was up 63.64 last week to finish at $0.27. The company announced on Tuesday that it had filed an updated technical report for the Pinaya goldcopper project in Peru. The company reported measured and indicated resources of 41,691 tonnes grading 0.324 percent copperand 0.489 grams per tonne of gold for Pinaya, with 40,216 tonnes of inferred resources grading 0.36 percent copper and 0.3 grams per tonne of gold.

Cascadero Copper

Cascadero Copper began restructuring its portfolio in 2014 to focus on its rare metal and silver assets. It holds projects in Argentina and British Columbia.
Cascadero provided an update on April 21 that this reorganization is now complete. There was no additional news from the company last week to explain its rise in share price. Shares of Cascadero were up 60 percent last week to $0.08.

Callinex Mines

Shares of Callinex rose 53.33 percent to hit $0.46 for the week. The company released results from an additional five drill holes from its Pine Bay project on Monday, reporting significant copper mineralization in four out of five holes. Specifically, hole PBM-009 intersected 10.6 meters grading 1.4 percent copper, 50.8 meters down hole.
The company concurrently announced a $1 million private placement to facilitate exploration activities, which it increased to $2.75 million the following day.

American Creek Resources

Finally, shares of American Creek Resources rose 45.45 percent last week to $0.08. The company holds a number of potential gold and silver projects in British Columbia, including properties in BC’s prolific Golden Triangle.
On April 21, American Creek received approval for a previously announced agreement regarding an NSR interest held by a third party for the company’s 51 percent owned Treaty Creek project. The deal reduces a prior $6 million payment obligation that could have potentially been triggered by American Creek reducing its interest in the project or granting access for development. There was no further news last week to explain the rise in share price for 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, Teresa Matich, hold no direct investment interest in any company mentioned in this article.
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