5 Top Weekly TSXV Stocks: Kaizen Drills at Pinaya Project

- January 26th, 2020

The top gainers on the TSXV last week were Camino Minerals, Northern Graphite, Kaizen Discovery, VVC Exploration and Primeline Energy.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was trading at 583.59 points last Friday (January 24), up by 1.51 points over the previous day at the same time, but behind where it was at the same time the week prior, when it was at 584.91 points.

In the US, the impeachment trial is sucking all the oxygen away from most other news items, while interest in the Democratic primaries is reaching a fever pitch as they draw closer.

In commodities, gold jumped around last week and was around US$1,570 per ounce by Friday. Copper spent the entire week on the decline, falling to US$6,048 per metric ton after starting at US$6,244.

Looking at junior resources companies, here are the five top-performing stocks on the TSX Venture Exchange from last week:

Read on to find out more about what each company has been up to recently.

Camino Minerals

Camino Minerals describes itself as a discovery-oriented exploration company with a focus on copper. It has two projects in its portfolio: the Los Chapitos copper project in Peru, which has a 2018 NI 43-101 technical report, and the Plata Dorada project, also in Peru, which has a historical record of mining.

The most recent news from the company was all corporate, with Camino announcing a private placement largely backed by new appointments Keith Peck and Jay Chmelauskas, who are now in the positions of chairman and CEO, respectively.

The company was trading at C$0.19 as of Friday after jumping 117.65 percent over the week.

Northern Graphite

Canadian development company Northern Graphite owns the Bissett Creek graphite deposit in Ontario, which is an advanced-stage project. According to the company, it has reached the stage where it is waiting to make a construction decision pending financing.

The company’s last press release was a corporate update from late last year, when it shared its thoughts on the low graphite market and provided readers with a look around at other junior graphite companies. Northern Graphite noted that under current market conditions, it is not aware of other public graphite companies that have secured production financing recently.

Still, the company was trading up by 64.29 percent on the TSXV last week to reach C$0.23.

Kaizen Discovery

Kaizen Discovery is a base and precious metals explorer focused on South America. It’s majority owned by HPX TechCo, a privately held company led by mining heavyweight Robert Friedland. Its flagship project is the Pinaya copper-gold project in Peru.

On January 13, the company reported that it was due to start exploration drilling at Pinaya, with the aim of testing three priority targets and the possibility of expanding the program depending on results.

Kaizen reached C$0.07 last Friday off of a 44.44 percent increase in its share price.

VVC Exploration

VVC Exploration is currently working to bring its flagship Gloria copper project in Mexico into production. The 4,055 acre property is situated in the northern part of Mexico’s Chihuahua state in the Sierra Madre region 60 kilometers southwest of El Paso, Texas.

The company’s last news on its website centers on the approval of a pilot mine at Gloria back in August 2019. Since then, the company has also shared updates on debt and private placement financings.

VVC was trading at C$0.05 last Friday — up by 42.86 percent.

Primeline Energy Holdings

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

On January 9, the company posted an update on a long and complicated arbitration between itself and 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 January 22, it reported that it had issued shares to an associate company wholly owned by Primeline’s president, chairman and majority shareholder.

Primeline was trading at C$0.07 last Friday after gaining 40 percent over the previous five days of trading.

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.

Editorial Disclosure: VVC Exploration is a client of the Investing News Network. This article is not paid-for content.

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