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5 Top Weekly TSXV Stocks: Serengeti Results Double Share Price
Last week, drill results from a promising copper-gold project dominated, while coal, tin and manganese filled out the remainder of the five top TSXV stocks.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was down on Friday (October 19), falling by 9.88 points, or 1.43 percent, to 680.58.
In Canada, all the news was about cannabis legalization, which dominated the cycles — though cannabis stocks themselves reacted by dropping.
Gold saw gains and base metals appear locked in a holding pattern, stuck between negative trade war sentiment and upward pressure from falling inventories — though watch out for supply dynamics.
Looking at junior miners on the TSXV, gold (feat. copper) topped the list again, but the rest of the top gainers brought more diversity in the form of coal and tin companies.
Here are the five top gainers on the exchange last week:
- Serengeti Resources (TSXV:SIR)
- Westhaven Ventures (TSXV:WHN)
- Buffalo Coal (TSXV:BUF)
- Strongbow Exploration (TSXV:SBW)
- Meridian Mining (TSXV:MNO)
Serengeti Resources
Canadian junior explorer Serengeti Resources is focused on its Kwanika copper-gold project in BC. It also has a further six copper and gold exploration projects throughout the province.
Last week, Serengeti Resources reported the first batch of assay results from its 2018 drilling campaign at Kwanika. The company said that the fully funded program is part of the ongoing Kwanika prefeasibility study scheduled for completion in mid-2019.
Clearly the markets liked the news, with Serengeti receiving a 182.76-percent boost in its value over the week; its shares were sitting at C$0.41 by Friday.
Westhaven Ventures
Westhaven Ventures is a gold explorer focused on three projects in a line in the Spences Bridge gold belt of Southern BC. It currently has the Prospect Valley, Shovelnose and Skoonka Creek projects on the boil.
This week it reported 17.77 meters of 24.5 grams per tonne gold at Shovelnose, where it recently completed a 2018 drilling campaign. It has more assay results pending, and promised that a follow-up drill campaign will begin next month to explore the extent of the gold mineralization at the project.
On the TSXV, Westhaven’s shares increased by 128.99 percent to C$0.79 by Friday.
Buffalo Coal
Listed on the TSXV but based and operating in South Africa, Buffalo Coal is focused on coal. It has two processing facilities and two operating anthracite coal mines in KwaZulu-Natal with a combined capacity of 145,000 tonnes of coal every month.
While it did not release any news last week (or indeed this month, besides a profile of its CEO Rowan Karstel), Buffalo Coal’s share value increased by 50 percent this week to C$0.015.
Strongbow Exploration
Strongbow Exploration is an explorer with interests in tin, with a portfolio of assets through North America and the UK — though it highlights the past-producing South Crofty underground tin mine in Cornwall as its flagship.
The company put out two press releases last week; the first on an offtake agreement for its South Crofty mine, and the second detailing its connections to Westhaven (further up this list) and how it will benefit from its gold discoveries.
In Toronto, Strongbow went up by 44 percent to reach C$0.18.
Meridian Mining
Focused on operations in Brazil, Meridian Mining has two projects: the Bom Futuro tin project and the Espigão manganese project, both in Rondônia state in Northwestern Brazil.
Its current focus is Espigão, where it has a pilot program and is conducting further exploration.
No news last week, but earlier in October Meridian announced that it has secured an extension for loans in what it said was recognition of its steps to restructure and optimize its operations.
On the TSXV, Meridian’s shared increased by 35 percent, reaching C$0.135.
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.
Don’t forget to follow us @INN_Resource for real-time updates!
Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
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