On the TSXV this week explorers are again on the up, with appearances from base and precious metals companies operating all over the world.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was down again on Friday (August 10), this time falling 3.66 points to 696.03, or by 0.52 percent.
Markets are being hammered by sanctions and tariffs all over the world, with the latest favored target being Turkey, which the US has turned its sights on.
While Canada’s been in global headlines over its spat with Saudi Arabia, Turkey stole the show in the end with US President Donald Trump flagging a 50-percent tariff on steel from its NATO ally.
In Canada, the Investing News Network has taken a look at what the miners and energy companies have been up to during the week. Here are the top five gainers:
- Abacus Mining and Exploration (TSXV:AME)
- Aben Resources (TSXV:ABN)
- Rosita Mining (TSXV:RST)
- AXMIN (TSXV:AXM)
- Canadian Energy Materials (TSXV:CHEM)
Abacus Mining and Exploration
Canadian explorer and developer Abacus has interests in two copper-gold properties—one in British Columbia and another one in Nevada.
It was news from the Nevada Willow property near Yerington that made news this week, with a release on Wednesday (August 8) detailing the conclusion of initial drilling at the property.
According to Abacus, it has successfully completed an initial three drill holes at Willow, with the identification of the Luhr Hill Granite, a unit not previously known to exist on the company’s properties being the star of the show. The company is currently compiling data on the drilling.
Over the week, the company’s share price increased by 81.82 percent to C$0.30.
Gold explorer Aben Resources also had fresh news this week, revealing on Thursday (August 9) that its first drill hole of 2018 at the Forrest Kerr project in British Columbia’s Golden Triangle had come back with very promising results.
President and CEO of Aben Jim Pettit said that “the high-grade gold and base metal values in the first hole of the 2018 drill program have far exceeded our expectations and confirm the presence of a robust and strong mineralizing system at the recently discovered North Boundary zone.”
Investors liked the news, with Aben’s share price increasing 80 percent during the week to close at C$0.31.
Edmonton-based junior prospecting company Rosita Mining is focused on progressing works at the historic Santa Rosita copper-gold-silver mine in Nicaragua, where its primary interests lie.
Its most recent news was in late July, when it announced a memorandum of understanding with a Nicaraguan company to form a JV for the Rosita D concession and the Santa Rita stockpile treatment project, also in Nicaragua.
The news might have been last week, but Rosita’s value increased by 57.14 percent across this week to C$0.05.
Another gold explorer, AXMIN is focused on projects in the Central African Republic, which unsurprisingly is in central Africa.
According to its website, the primary project of the company is developing the Passendro gold project “as soon as the security situation in the country allows it.” The country is currently in the middle of a civil war with central control limited to the capital, Bangui. While fighting continues sporadically, with UN peacekeeping efforts in the country, France withdrew troops in 2016 following a peaceful election.
AXMIN’s latest news was in May, and included lots of information about the Passendro project, but at the time still described the situation as “difficult.” The company appears to have been diversifying into Senegal, with a number of exploration permits there.
Something good must be happening though, despite no new news the company’s share price increased by 53.57 percent this week to C$0.21.
Canadian Energy Materials
It has two projects listed at the moment: the Manitou nickel-copper-cobalt project in Quebec and the Wicheeda rare earths project in British Columbia.
News is thin on the ground, but in Toronto, Canadian Energy Minerals’ share price went up by 42.86 percent over the week to Friday, where it sat at C$0.2
Data for 5 Top TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using tradingview.com. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the basic materials and energy sectors are considered.
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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.