5 Top Weekly TSXV Stocks: Camino Minerals Gains on Drill Results

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last week at 824.92 points, up 0.08 percent.
Even so, on Friday (April 21), the index saw some pressure. While energy stocks gained despite a drop in oil prices, weak inflation caused a pullback in bank stocks, Reuters says. Global politics also continued to weigh on investors worldwide — in particular, France’s upcoming election was causing worries.
That said, a number of TSXV-listed stocks in the mining sector saw share price increases last week. The top five gainers were:

• Camino Minerals (TSXV:COR)
• Trigon Metals (TSXV:TM)
• Sama Resources (TSXV:SME)
• First Point Minerals (TSXV:FPX)
• Newrange Gold (TSXV:NRG)

Without further ado, here’s a look at those companies and the factors that moved their share prices last week.

Camino Minerals

Camino Minerals is a discovery-oriented exploration company focused on high-grade copper and precious metals projects. The company primarily works in Peru, but also operates across North America.
On April 18, Camino released results from the first two drill holes at its Los Chapitos project, located in Southern Peru. The holes were completed as part of an initial drill program at Los Chapitos, and according to the company both intersected copper. The news sent Camino’s share price up 402.86 percent to close at $1.76.

Trigon Metals

Trigon Metals holds an 80-percent interest in five mining licenses in an area of Nambia known for its high-grade copper deposits. The licenses hold three past-producing mines, including the company’s flagship property, the Kombat mine.
On April 20, Trigon released an updated mineral resource estimate for Kombat. According to the company, Kombat now has an inferred mineral resource of 6.26 million tonnes grading 2.97 percent copper, 1 percent lead and 20.99 g/t silver. Trigon’s share price rose by 31.67 percent over course of the week to close at $0.40.

Sama Resources

Sama Resources’ main focus is the Samapleu nickel-copper project in Ivory Coast. The company also owns the Ivory Coast-based Lola graphite project, but is in the process of transferring the project to newly formed company Sama Graphite.
The company’s most recent news came on April 7, when it announced an increase in an equity financing. Last week, Sama’s share price gained 29.73 percent to close at $0.24.

First Point Minerals

First Point Minerals is focused on the exploration and development of properties containing awaruite, a naturally occurring metallic nickel-iron alloy. The company has a number of properties, but its flagship asset is the BC-based Decar project, where a preliminary economic assessment was completed in March 2013.
On April 3, First Point’s board of directors recommended that the company change its name to FPX Nickel. The company also announced plans to grant 2,550,000 stock options to directors, officers and consultants. Both of those decisions are subject to shareholder approval at a special meeting on May 25. The company’s share price rose by 26.32 percent last week to close at $0.12.

Newrange Gold

Newrange Gold is currently in the exploration phase at two sites in Colombia and one in the US. On April 11, the company announced that channel sampling has more than doubled the extent of mineralization at its Nevada-based Pamlico gold project from the amount announced the previous month.
Most recently, on April 17, the firm put out a call for up to $1.2 million in financing; it plans to use the proceeds for drilling and sample testing at Pamlico. Newrange’s share price gained by 22.41 percent last week to close at $0.36.
Data for 5 Top Weekly TSXV Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
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Securities Disclosure: I, Melissa Shaw, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Newrange Gold is a client of the Investing News Network. This article is not paid-for content.