Base Metals


Last week’s other top-gaining stocks on the TSXV were Minaurum Gold, Canadian Orebodies, New Stratus Energy and Canada Rare Earth.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was up 0.53 percent on Friday (January 26), at 890.8 points.
The Canadian dollar strengthened to 81 cents against the US dollar on Friday as investors processed domestic data showing a drop in headline inflation, but a rise in underlying measures.
Canada’s inflation rate fell 1.9 percent in December from 2.1 percent in the previous month, with higher food costs offset by falling gas prices, according to data from Statistics Canada.
The gold price fell on Friday after US President Donald Trump told CNBC on Thursday (January 25) that “the dollar is going to get stronger and stronger, and ultimately I want to see a strong dollar.”

Trump was speaking from a World Economic Forum meeting in Davos, Switzerland.
Against that backdrop, a number of TSXV-listed mining stocks experienced significant share price gains last week. The five top gainers are as follows:
  • Pan Global Resources (TSXV:PGZ)
  • Minaurum Gold (TSXV:MGG)
  • Canadian Orebodies (TSXV:CORE)
  • New Stratus Energy (TSXV:NSE)
  • Canada Rare Earth (TSXV:LL)

Read on for a brief overview of those companies and what moved their share prices last week.

1. Pan Global Resources

Pan Global Resources released exploration results from its Aguilas copper project in Spain last Monday (January 22). The results include up to 8.9 percent lead and 37.9 grams per tonne gold. The company said assay results were received for soil samples from the Torrubia and Zumajo trends.
The firm said it plans to begin drilling at Aguilas in the second quarter of 2018. Pan Global Resources’ share price rose 56.76 percent to close at $0.29 last week.

2. Minaurum Gold

Minaurum Gold’s most recent news came midway through January, when it released drill results from an ongoing program in the historic Alamos Silver District in Mexico. Last week, the company saw its share price rise 53.85 percent to close at $0.47.
Hole AL17-07, the first hole ever drilled into the Europa-Guadalupe vein system, intersected 8.25 meters grading 1,760 g/t silver, 1.6 percent copper, 1.5 percent lead and 2.6 percent zinc, including 2.2 meters grading 5,098 g/t silver, 2.76 percent copper, 0.5 percent lead, and 1.18 percent zinc.
“It is still early days, but this proves the Alamos District is bigger than previously conceived and now we have to focus broadly on stringer swarms throughout the district to determine just how much larger this system really is,” said Dr. Peter Megaw, Minaurum director and co-founder.

3. Canadian Orebodies

Canadian Orebodies did not release any news last week, but its share price jumped 48.72 percent to close at $0.33. Its latest news came in December, when it discovered a new gold zone that potentially extends the Wire Lake gold zone between 500 and 700 meters to the south.
“We will be eager to get back to work in the spring to follow up and hopefully expand this new priority area,” Gordon McKinnon, president and CEO of Canadian Orebodies, said at the time.

4. New Stratus Energy

New Stratus Energy’s share price rose 46.43 percent over the course of last week to end at $0.21. It did not release any news during that time; most recently, on January 12, the company extended the expiry date of a put and sale agreement dated May 3, 2017 for its uranium assets.

5. Canada Rare Earth

Last week, Canada Rare Earth and Talaxis signed a memorandum of understanding to develop a supply chain for rare earths. Canada Rare Earth’s share price gained 38.46 percent to close at $0.09.
“We expect that the arrangement with Talaxis will allow Canada Rare Earth to focus on what we do best: developing new sources of raw products, developing midstream processing facilities and customer relations. Talaxis is a perfect ally for us,” said Tracy Moore, CEO of Canada Rare Earth.
Data for 5 Top Weekly TSXV Stocks articles is retrieved each at 10:30 a.m. PST 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.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Melissa Shaw, hold no direct investment interest in any company mentioned in this article.


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