Last week’s other top-gaining stocks on the TSXV were Pure Energy Minerals, White Gold, Bayhorse Silver and Nicola Mining.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was down on Friday (September 21), falling 0.63 points to 719.62, or 0.09 percent.
Again, world news was dominated by trade war anxiety as US President Donald Trump pursues his strategies against China.
The US dollar saw a slump last week, boosting gold prices.
Here, the Investing News Network takes a look at what junior miners were up to last week. Below are the top five gainers:
- Pure Energy Minerals (TSXV:PE)
- White Gold (TSXV:WGO)
- Bayhorse Silver (TSXV:BHS)
- Pan Global Resources (TSXV:PGZ)
- Nicola Mining (TSXV:NIM)
Scroll down for information on what each company has been talking about.
Pure Energy Minerals
Canadian explorer and developer Pure Energy Minerals has its sights set on lithium, with a flagship lithium brine project in Clayton Valley, Nevada, ideally located next to Albemarle’s (NYSE:ALB) Silver Peak — the only producing lithium mine in North America.
It describes its Clayton Valley lithium deposit as having an inferred resource of 247,000 tonnes of lithium hydroxide monohydrate, with lithium-bearing brine detected to a depth of 820 meters.
While the company released no news in September, in August it announced it had re-negotiated an option agreement with two other companies over mineral claims in the Clayton Valley.
On the TSXV last week, Pure Energy Minerals enjoyed a 75 percent increase in its share value, to C$0.175.
Named for the Yukon district it has claims in, White Gold is the largest landholder in the White Gold district at 390,000 hectares, or 40 percent of the entire area.
It describes its properties as ranging from grass roots to advanced exploration projects, including the flagship White Gold property with a mineral resource of 961k indicated and 282.5k inferred ounces of gold.
The company put out big news last week, announcing on Monday (September 17) a new high-grade gold discovery from surface at the JP Ross property, in Yukon. On Tuesday (September 18) the company reported it had reached an agreement to acquire a 100-percent interest in a portfolio of mining claims from Independence Gold (TSXV:IGO), further increasing its claims in the district.
With the news, White Gold’s share price increased by 69.23 percent over the course of last week to C$1.1.
Bayhorse Silver is working to bring its Bayhorse silver mine in Oregon to production.
According to the company, the Bayhorse property has been historically identified as the location of the largest silver deposit found in the state of Oregon, with mining conducted intermittently since the early 1920.
Earlier this month, Bayhorse announced high-grade assay results from the mine, reporting 26 preliminary assays from 60 channel samples.
According to the release, the samples were promising, with one grading 9,735 grams per tonne.
On the TSXV, the company’s share price rose by 66.67 percent over the five-day period to C$0.15.
Pan Global Resources
It said that it would be commencing drilling there, with the planned program including approximately 15-23 drill holes ranging from 100 to 230 metres depth for a total of 3000 to 4000 metres. Drill pads are currently being prepared and a drill rig is mobilizing to site with drilling set to commence next week.
In Toronto, Pan Global Resources’ shares were up 33.33 percent to C$0.2.
Nicola Mining is a public resource mining company with a portfolio of what it describes as high-potential assets, including a mineral processing facility in Merritt, British Columbia and the Treasure Mountain exploration property, a high-grade silver-lead–zinc deposit.
It has released no new news this month, but in August it announced positive drill results at another property — the New Craigmont property near Merritt.
The company said the drilling provided a simple overview of copper grade and sectional volume of the approximate 80-90 million-tonne historical waste pile surrounding the Craigmont mine pit.
Last week on the TSXV, Nicola Mining enjoyed a 33.33 percent increase in its share value to C$0.14.
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.