5 Top Weekly TSXV Stocks: Constantine Surges After Announcing Palmer Project Plans

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last week at 834.62 points, up 2.21 percent. It gained support from geopolitical tensions worldwide.
“We think risk is going to elevate, financial conditions will tighten; one is geopolitical risk, not only internationally, but with domestic [US] policy uncertainty on the tax bill,” said Eugen Weinberg of Commerzbank (OTCMKTS:CRZBY).
Similarly, Andres Jaime, a global FX and rates strategist at Barclays (LSE:BARC), told CNBC, “I’d say it’s probably more of a Trump trade [reversing] than the geopolitics, but going forward I think the geopolitics is the topic the market is focusing on.”
On the back of those conditions, a number of TSXV-listed mining stocks saw share price increases last week. The top-gaining companies were:

• Asian Mineral Resources (TSXV:ASN)
• Silvermet (TSXV:SYI)
• Constantine Metals (TSXV:CEM)
• Highway 50 Gold (TSXV:HWY)
• Edgewater Exploration (TSXV:EDW.H)

Here’s a brief overview of those companies and the factors that moved their share prices last week.

Asian Mineral Resources

Asian Mineral Resources owns and operates one of the world’s few new sources of nickel sulfide; it is also exploring for and developing additional high-grade nickel assets in Vietnam. On March 9, the company announced management changes and released its results for 2016.
Over the course of the week, Asian Mineral Resources’ share price spiked 40 percent to close at $0.03.

Silvermet

Silvermet operates an electric arc furnace dust recycling business in Turkey. It recovers high-grade zinc oxide concentrate from electric arc furnace dust from steel mills, and then sells it to smelters, primarily in Europe. The company has not released any news lately; nevertheless, its share price increased 66.67 percent last week to reach $0.10.

Constantine Metal Resources

Constantine Metal Resources is a base and precious metals exploration company focused on North American. The company’s flagship copper-zinc-silver–gold Palmer project is located in southeast Alaska. On April 12, the company announced a $7-million 2017 budget for Palmer; some of the money will be used to complete 7,000 meters of drilling.
The news sent the company’s share price up 25.93 percent to end last week at $0.17.

Highway 50 Gold

Highway 50 Gold is an exploration-stage company engaged in the acquisition and exploration of assets in North America. It is focused on the Golden Brew property and the Porter Canyon project, and also holds another early stage prospect; all three are located in Nevada.
Most recently, the company said on April 6 that it has suspended drilling at its Monroe project in BC until sufficient time has elapsed to allow spring breakup to conclude. The company’s share price increased 14.55 percent last week to reach $0.63.

Edgewater Exploration

Edgewater Exploration is an exploration and mine development company focused on two advanced-stage gold projects with defined resources. Edgewater’s gold assets include the Corcoesto gold project in Spain and a 51-percent stake in the Enchi gold project in Ghana.
The company has not released any news since 2016, but last week its share price jumped 13.64 percent to reach $0.25.
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, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.