Base Metals

Copper Investing

The top TSXV gainers last week were Azimut Exploration, Primeline Energy, Molori Energy, Group Ten Metals and Commerce Resources.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed trading last Friday (January 17) at 584.91 points — up by 0.9 points over the previous day, and ahead of its close at the same time the week prior, 582.35 points.

World news was dominated by long-awaited developments on the US-China trade war front, with the two countries signing a momentous “phase one”agreement earlier in the week.

In the commodity space, platinum started 2020 with a rush, holding around US$960, while copper saw an eight-month high before promptly falling away.

Looking at the junior miners, here are the top five gainers on the TSXV from last week in the resources and energy space:

  • Azimut Exploration (TSXV:AZM)
  • Primeline Energy (TSXV:PEH)
  • Molori Energy (TSXV:MOL)
  • Group Ten Metals (TSXV:PGE)
  • Commerce Resources (TSXV:CCE)

Read on to see what each company has done to see their shares rise.

Azimut Exploration

Mineral explorer Azimut holds a major precious and base metals portfolio in Quebec, including a number of copper, gold, nickel, cobalt and rare earths prospects dotted through the Nunavik region in the northern reaches of the province.

The company hasn’t released any news in 2020 so far, but in December 2019 it had a slew of releases. First it reported that it and its strategic partner SOQUEM had enhanced the Nantais goldsilver-copper-zinc property with additional drilling, then came the confirmation that the Copperfield trend on the Pikwa copper-gold property was a major target. Towards the end of the month, the company closed a C$785 flow-through private placement financing.

On the TSXV through last week, the company was trading up by 184 percent, reaching C$1.42 by the end of the week.

Primeline Energy

Toronto-listed, China-based Primeline Energy describes itself as having operated in the Chinese offshore petroleum industry in a joint venture with China National Offshore Oil Corporation (CNOOC) for over 20 years, with substantial offshore exploration licenses in the East China Sea.

On January 9, the company posted an update on a long and complicated arbitration between it and the state-owned CNOOC. According to the company, its lawyers have been informed by a Chinese tribunal that a final award will be ready to be transmitted to both CNOOC and Primeline by the end of February. The updates have all been posted to SEDAR.

On the TSXV, Primeline was trading at C$0.065 by the end of last week after gaining 116.67 percent over the week.

Molori Energy

Molori Energy is an oil and gas company with assets in the Texas Panhandle. According to the company’s documents on SEDAR, Molori suspended all production due to market volatility in Q4 2018 and has yet to restart production as of the company’s management discussion and analysis document published on September 30 of this year. It has not posted any news since.

The company was trading at C$0.41 by the end of last week after gaining 64 percent on the Venture Exchange over the previous five days of trading.

Group Ten Metals

Canadian mineral exploration company Group Ten Metals is focused on the development of its flagship Stillwater West platinum group element (PGE)-nickel-copper project in Montana, which is adjacent to Sibanye-Stillwater’s (NYSE:SBGL) PGE mines.

According to the company’s last release of 2019, it drilled 272 meters of 1.9 grams per metric ton (g/t) platinum equivalent at the Iron Mountain target at Stillwater West. The drilling also included platinum, palladium, gold, nickel, copper and cobalt.

In Toronto, Group Ten Metals was trading at C$0.285 by the end of last week — up by 50 percent.

Commerce Resources

Commerce Resources is an exploration and development company with a focus on rare earth elements and rare metals. Its flagship is the Ashram rare earth project in Quebec, along with its Upper Fir tantalum and niobium deposit in British Columbia.

The company’s last release was about a “potentially significant advancement of flotation testwork” for Ashram. According to the company, “Assuming the cleaner flotation testwork at Laval is verified and demonstrated repeatable, the potential positive impact may be significant as analysis of the base case flowsheet has determined that the flotation component is a key process stage as it is where most of the rare earth element recovery is lost.”

The company was up by 42.86 percent on the TSXV last week to reach C$0.28.

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 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.


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