Base Metals


Last week’s top-gaining TSXV mining stocks were Kodiak Copper, Essex Minerals, North American Nickel, Kutcho Copper and Desert Mountain.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) declined last week, finishing at 733.24 on Friday (September 4), down from Monday’s (August 31) open of 752.4.

New Canadian employment data hit during the week, revealing that the economy added 246,000 in August. That marked the fourth month in a row of gains, bringing the country’s overall employment level to within 1.1 million of where it was before COVID-19 hit.

In the resource space, base metals were in focus last week, with three of the top-gaining stocks on the TSXV focused on those materials.

The TSXV-listed mining companies below saw major share price moves last week:

  • Kodiak Copper (TSXV:KDK)
  • Essex Minerals (TSXV:ESX)
  • North American Nickel (TSXV:NAN)
  • Kutcho Copper (TSXV:KC)
  • Desert Mountain Energy (TSXV:DME)

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

1. Kodiak Copper

Kodiak Copper is focused on copper porphyry projects in Canada and the US. Its most advanced asset is the MPD project in British Columbia, where it has found high-grade copper-gold mineralization.

Last week, Kodiak’s share price jumped 234 percent to close at C$1.67. The major increase came after the company announced the discovery of a “significant high-grade copper-gold extension” of MPD’s Gate zone. President and CEO Claudia Tornquist described the find as “transformative” for Kodiak.

2. Essex Minerals

Essex Minerals has the right to earn a joint venture interest in several epithermal and orogenic gold projects in the Australian regions of Queensland and the Northern Territory.

Last week, the company shared two pieces of news. First, it said on Wednesday (September 2) that the first drill program at its Cumberland gold-silver joint venture project has intersected high-grade gold and silver mineralization. Then, on Friday (September 4), it announced a non-brokered private placement to raise gross proceeds of $2,750,000.

The news sent Essex’s share price up 88.89 percent to close at C$0.68.

3. North American Nickel

Greenland- and Canada-focused North American Nickel is advancing and developing nickel sulfide projects. It is also a founding shareholder of privately owned Premium Nickel Resources, whose aim is to provide direct exposure to nickel-copper-cobalt opportunities in the south of Africa.

Last Monday, North American Nickel closed the second and final tranche of a previously announced non-brokered private placement for aggregate gross proceeds of close to $400,000. The news sent the company’s share price up 69.57 percent to finish at C$0.20.

4. Kutcho Copper

Kutcho Copper is advancing its high-grade Kutcho copper-zinc project in Northern British Columbia.

The company’s share price increased 51.22 percent last week to finish the period at C$0.31. The rise came after Kutcho announced a non-brokered private placement through which it is aiming to raise total gross proceeds of C$2 million.

5. Desert Mountain Energy

Desert Mountain Energy is exploring and developing helium and oil and gas properties in the southwestern part of the US. Currently it has one helium asset and one oil and gas project.

Last week, the company announced that it has tested significant helium percentages in two new exploratory wells located at its Heliopolis project in Arizona. On the back of the news, Desert Mountain’s share price rose 39.82 percent to hit C$1.58.

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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