Base Metals

Copper Investing

Last week’s top-gaining mining stocks on the TSXV were Deep South, Consolidated Woodjam, Ceylon Graphite, Euro Manganese and C3 Metals.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last week at 717.67, down from Monday’s (October 19) open of 727.61.

In the commodities space, the gold price experienced ups and downs, but remained centered around the US$1,900 per ounce mark. The other precious metals experienced gains as well.

Base metal copper was on the rise, hitting its highest point year-to-date midway through the week.

Against that backdrop, the TSXV-listed mining companies below saw major share price moves last week:

  • Deep South Resources (TSXV:DSM)
  • Consolidated Woodjam Copper (TSXV:WCC)
  • Ceylon Graphite (TSXV:CYL)
  • Euro Manganese (TSXV:EMN)
  • C3 Metals (TSXV:CCCM)

Here’s a look at what may have moved their share prices over the last five days.

1. Deep South Resources

Africa-focused exploration and development company Deep South Resources is partially owned by Teck Resources (TSX:TCK.A,TSX:TCK.B,NYSE:TECK). Its main asset is the Haib copper deposit in Namibia.

Last Monday, Deep South closed the second tranche of a non-brokered private placement; together, the two tranches brought in $2,413,200. The funds will be used for general working capital and to advance exploration at Haib. The company’s share price jumped 52.63 percent last week to reach C$0.15.

2. Consolidated Woodjam Copper

Consolidated Woodjam Copper is focused on its Woodjam gold-copper-molybdenum project.

The company announced last Monday that it is continuing a drill program at Woodjam’s Deerhorn zone, with the first hole completed at 380.5 meters and sent to the lab. The drill has now been moved to a second site at Woodjam, which is situated in British Columbia. On the back of the news, Consolidated Woodjam’s share price saw a 40 percent increase to close at C$0.21.

3. Ceylon Graphite

Ceylon Graphite has a land package in Sri Lanka made up of 121 square kilometer grids containing historic vein graphite deposits. According to the company, vein graphite currently accounts for less than 1 percent of the world’s graphite output.

Last Monday, Ceylon announced a private placement for gross proceeds of $4.5 million. The company closed the first tranche of the the placement on Friday (October 23), bringing in $2,639,312; the second tranche is expected to close on or about October 28.

Ceylon’s share price rose 36.36 percent last week to end at C$0.15.

4. Euro Manganese

Euro Manganese is developing a new high-purity manganese production facility that it says will be based on the recycling of material from the Chvaletice tailings deposit located in the Czech Republic. Its aim is to become a producer of high-purity electrolytic manganese metal and manganese sulfate for producers of lithium-ion battery precursor materials, among other end users.

On Wednesday (October 21) last week, the company announced a private placement for aggregate gross proceeds of approximately C$11.4 million. The money will be used for various purposes at Chvaletice. Euro Manganese’s share price went up 35 percent on the news to end the period at C$0.27.

5. C3 Metals

C3 Metals has an interest in large-scale copper-gold exploration opportunities in mining-friendly jurisdictions. Its main property is the Jasperoide project in Peru.

There was no news last week from C3 Metals, but the company’s share price nevertheless jumped 33.33 percent to finish the five day period at C$0.08.

Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView’s stock screener. Only companies with market capitalizations greater than C$10 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.


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