5 Top Weekly TSXV Stocks: Base Metals Miner Crystal Lake Surges

Last week’s other top-gaining stocks on the TSXV were Eskay Mining, NV Gold, Virginia Energy and Sarama Resources

Last Friday (July 6), the S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 1.87 points, down 0.25 percent, to close at 740.04.

Talk this week has been about tariffs as they finally bite after so much time waiting for the crunch.

Investors are bullish however, with shares on the TSX still predicted to end 2018 higher despite all the background noise.

The energy sector has been doing most of the moving this week, alternating between up and down each day.

On the TSXV, INN took a look at how the junior miners have been faring this week. Below are the top five gainers.

  • Eskay Mining (TSXV:ESK)
  • NV Gold (TSXV:NVX)
  • Virginia Energy (TSXV:VUI)
  • Crystal Lake Mining (TSXV:CLM)
  • Sarama Resources (TSXV:SWA)

Eskay Mining

Toronto-based and British Columbia-focused explorer Eskay Mining tops out this week’s list of gainers on the TSXV, with its share price rising 35.90 percent over the course of the week.

Shares of Eskay, which focuses on precious and base metals, rose from C$0.195 to C$0.25 by Friday.

The company holds assets in the Golden Triangle of northern BC, and while the company didn’t release any news this week, the most recent news released in June detailed the commencement of exploration works at one of its properties.

NV Gold

Junior Explorer NV Gold enjoyed a 27.5 percent increase in value over the week, with its shares jumping from C$0.2 to C$0.25.

The company has many gold properties all through the US state of Nevada.

Again, this company didn’t release any news this week, but NV announced at the end of June that is planning a drilling program at its Frazier Dome gold property.

Virginia Energy

Virginia Energy Resources owns the Coles Hill uranium project in Virginia, which it describes as one of the largest untapped uranium resources in the world. A preliminary economic assessment shows it has a 35-year mine life with production set at 2 million pounds per year.

Earlier this year, the company enjoyed a healthy boost in its share price after it announced it would be challenging a 33-year statewide ban on uranium mining. No news on what’s happened since, but this week the company saw yet another jump, this one a more modest 27.27 percent to C$0.28.

Crystal Lake Mining

Crystal Lake Mining is a base metals explorer with properties in British Columbia and Ontario. Its current focus is a drilling program near Emo, Ontario where it has promising nickel results.

Its most recent news was back in May, when it raised $700,000 from a private placement to fund its operations.

Last week, Crystal Lake saw a 24.14 percent increase in value, with its shares now valued at C$0.72, up from C$0.58 a week ago.

Sarama Resources

West Africa-focused gold explorer and developer Sarama Resources has two projects across Burkina Faso, and up until recently had a third in neighbouring Mali.

There’s been no recent news besides the sale of its Mali operations, but the company’s share price increased by 11 percent on the Toronto Venture Exchange, up to C$0.1 from C$0.09.

Data for 5 Top TSXV Stocks articles is retrieved each Friday 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 updates!

Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.

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Noront Resources Ltd. announces that it has amended the shareholder rights plan previously adopted on May 26, 2021. The Rights Plan as amended is designed to ensure that all Noront shareholders are treated fairly in connection with any take-over bid and to protect against "creeping bids" for the outstanding common shares of Noront through purchases exempt from applicable take-over bid rules. Specifically, the ...

Noront Resources Ltd. (TSXV: NOT) ("Noront" or the "Company") announces that it has amended the shareholder rights plan (the "Rights Plan") previously adopted on May 26, 2021.

The Rights Plan as amended (the "Amended Rights Plan") is designed to ensure that all Noront shareholders are treated fairly in connection with any take-over bid and to protect against "creeping bids" for the outstanding common shares of Noront (the "Common Shares") through purchases exempt from applicable take-over bid rules.

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Noront Resources Ltd.   today announces that BHP Western Mining Resources International Pty Ltd a wholly-owned subsidiary of BHP Lonsdale Investments Pty Ltd has extended the expiry of its offer from 7:00 p.m.  on November 30, 2021 to 7:00 p.m.  on December 14, 2021. Earlier today, BHP Lonsdale announced that it continues to progress discussions with Wyloo Metals Pty Ltd regarding Wyloo Metals' potential ...

Noront Resources Ltd. (TSXV: NOT) ("Noront" or the "Company") today announces that BHP Western Mining Resources International Pty Ltd ("BHP Western Mining"), a wholly-owned subsidiary of BHP Lonsdale Investments Pty Ltd ("BHP Lonsdale"), has extended the expiry of its offer from 7:00 p.m. (Toronto Time) on November 30, 2021 to 7:00 p.m. (Toronto Time) on December 14, 2021.

Earlier today, BHP Lonsdale announced that it continues to progress discussions with Wyloo Metals Pty Ltd ("Wyloo Metals") regarding Wyloo Metals' potential support of BHP Western Mining's C$0.75 per share offer (the "BHP Offer") to acquire Noront. To allow more time for those discussions to progress, BHP Western Mining has extended the expiry of its offer to December 14, 2021. There is no assurance that any agreement will be reached between BHP Lonsdale and Wyloo Metals. The earliest time BHP Western Mining will be taking up Noront shares under its offer will be at the new expiry time.

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BHP Lonsdale Investments Pty Ltd a wholly owned subsidiary of BHP, announced today that it continues to progress discussions with Wyloo Metals Pty Ltd regarding its potential support of BHP's C$0.75 per share offer to acquire Noront Resources Ltd. . To allow more time for those discussions to progress, BHP is extending the expiry of its offer from 7:00 p.m. on November 30 2021 to 7:00 p.m. on December 14, 2021 . ...

BHP Lonsdale Investments Pty Ltd (" BHP Lonsdale "), a wholly owned subsidiary of BHP, announced today that it continues to progress discussions with Wyloo Metals Pty Ltd (" Wyloo Metals ") regarding its potential support of BHP's C$0.75 per share offer to acquire Noront Resources Ltd. (TSXV: NOT) (" Noront "). To allow more time for those discussions to progress, BHP is extending the expiry of its offer from 7:00 p.m. (Toronto Time) on November 30 2021 to 7:00 p.m. (Toronto Time) on December 14, 2021 . The earliest time BHP will be taking up Noront shares under its offer will be at the new expiry time.

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Catch up and get informed with this week's content highlights from Charlotte McLeod, our editorial director.

Top Stories This Week: Powell Gets Fed Nomination, Using Gold in a Market Correction youtu.be

We're back after a break last week with quite a bit to cover in the gold space.

After running up past the US$1,860 per ounce mark midway through November, the yellow metal has taken a tumble. At the time of this writing on Friday (November 26) afternoon, it was sitting just under US$1,790.

Gold's losses this week have been attributed to elements like a stronger US dollar and better Treasury yields, although Jerome Powell's US Federal Reserve chair renomination has pulled other factors into play — some market watchers believe he may move to taper and raise interest rates faster than anticipated.


If the Fed follows its previously laid out timeline for tapering, it will wrap up in mid-2022; the central bank has said it won't raise rates until after that. It has also emphasized that its roadmap may change if necessary.

Looking at the larger picture for gold, I heard recently from Nick Barisheff of BMG Group, who believes the stock market is due for a major correction.

"The market is due for a major correction. What will cause it and when it will happen is anybody's guess — it could be tomorrow, it could be six months from now" — Nick Barisheff, BMG Group

It's impossible to know when this correction will happen, but Nick emphasized the importance of acting before it's too late. He pointed out that investors are typically slow to get out of the market once a crash actually begins — they wait for a turnaround, and by the time it's clear there won't be one, they've experienced big losses.

In his opinion, the solution is to get out of the stock market early and transfer money into gold.

Here's how Nick explained it:

"Instead of taking your money off the table and going into cash … you go to gold (because cash is devaluing daily). Gold will at least hold its own and probably appreciate … so by sitting it out in gold you can wait until the market finishes correcting and then buy back in" — Nick Barisheff, BMG Group

With gold's future in mind, we asked our Twitter followers this week what price they think the metal will be at the end of 2021. By the time the poll closed, most respondents had voted for the US$1,800 to US$1,900 range.

We'll be asking another question on Twitter next week, so make sure to follow us @INN_Resource or follow me @Charlotte_McL to share your thoughts.

Finally, in the cannabis space, INN's Bryan Mc Govern spoke with Dan Ahrens of AdvisorShares to get his thoughts on 2021 trends and what's ahead in 2022.

Dan was candid, and said if he had to choose one word to describe the cannabis market in 2021, it would be "painful." Like many others, he's been disappointed in the industry's performance — while positivity initially ran high due to excitement about potential federal changes in the US, ultimately progress has been slow.

"Cannabis started with a big run-up in January and February ... and things dragged from there" — Dan Ahrens, AdvisorShares

Still, Dan has hope for 2022 and said it will be a "huge year" for cannabis. He believes US reforms will come sooner rather than later, and in his opinion those widely anticipated changes will bring a wave of M&A activity.

Specifically, he expects to see alcohol, tobacco and other consumer packaged goods companies making deals with cannabis players, not just cannabis entities doing transactions with each other.

"Those big alcohol companies, tobacco companies, other consumer packaged goods product companies — they're waiting. They're waiting on the US" — Dan Ahrens, AdvisorShares

Want more YouTube content? Check out our YouTube playlist At Home With INN, which features interviews with experts in the resource space. If there's someone you'd like to see us interview, please send an email to cmcleod@investingnews.com.

And don't forget to follow us @INN_Resource for real-time updates!

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

cannabis plant layered with German flag graphic
Dmytro Tyshchenko / Shutterstock

Catch up on some of the biggest news of the week for the cannabis investment world.

Three political parties have formed a coalition in Germany, leading to a new government, and it has promised cannabis reform in the European nation.

Meanwhile, a popular cannabis retailer confirmed consumers will now find its products available for delivery on the Uber Eats mobile application in Ontario.

Keep reading to find out more cannabis highlights from the past five days.


Coalition of parties promises forward-looking cannabis policy

Germany, a country with comprehensive and elaborate medicinal rules for cannabis, is in a time of transition as a new government is set to begin to take over after 16 years of Angela Merkel.

Olaf Scholz, the proposed next chancellor of Germany, leads a three party coalition that will become the country's governing body. As part of its promises, talk of adult-use cannabis regulation has now gained even more momentum. A report from MJBizDaily quotes a German policy document that shows the coalition's stance:

"We are introducing the controlled distribution of cannabis to adults for consumption purposes in licensed shops. This controls the quality, prevents the transfer of contaminated substances and guarantees the protection of minors."

However, despite the promise and excitement, it remains to be seen how these ideas will be applied since no formal regulations have been drafted or approved yet.

Canadian cannabis retailer partners with popular delivery app

Tokyo Smoke, a cannabis retail operator in Canada owned by Canopy Growth (NASDAQ:CGC,TSX:WEED), announced a collaboration agreement with Uber Canada (NYSE:UBER) whereby cannabis consumers will be able to use the Uber Eats app to order products before they visit stores.

While the app won't let consumers get cannabis delivered to them, this new method opens the doors to more dynamic ways of buying cannabis.

"As a market leader in innovation and a platform used by so many Canadians, we believe this is the ideal next offering that can be done safely and conveniently on the Uber Eats app," Mark Hillard, vice president of operations with Tokyo Smoke, said in a press release.

A report from the Canadian Press indicates Ontario is considering allowing dispensaries to have delivery and pickup options made available to consumers permanently. The province allowed some of these purchasing options at the outset of the COVID-19 pandemic, but then removed them.

Lola Kassim, general manager of Uber Eats Canada, said this new end-to-end experience will provide consumers with responsible access to legal cannabis products.

Cannabis company news

  • Organigram Holdings (NASDAQ:OGI,TSX:OGI) issued financial results for its Q4 2021 period. In its report, the company notes a net loss of C$26 million despite a 22 percent uptick in net revenue to C$24.9 million. Beena Goldenberg, the newly appointed CEO of the firm, is encouraged by the market share position earned by the company, which said it became the fourth biggest producer in Canada during the reporting period.
  • Halo Collective (NEO:HALO,OTCQB:HCANF) confirmed the decision for Akanda, its spinoff company focused on international cannabis opportunities, to begin trading on a US exchange. "The number of shares to be offered and the price range for the proposed offering have not yet been determined," the company told investors in a press release.
  • High Tide (NASDAQ:HITI,TSXV:HITI) announced the acquisition of 80 percent of NuLeaf Naturals, a CBD product wellness developer, for an estimated US$31.24 million. The deal includes a three year option clause for High Tide to complete a total acquisition. "As international markets open up and as export regulations evolve, NuLeaf's cGMP-certified facility positions us to take advantage of the global CBD business opportunity," Raj Grover, president and CEO of High Tide, said.
  • Humble & Fume (CSE:HMBL,OTC Pink:HUMBF) released the financial report for its first 2022 fiscal quarter to shareholders and the market. "As the legal cannabis market in North America continues to mature, Humble remains agile and focused on providing a leading solution for brands to scale quickly and retailers to focus on their customers," Joel Toguri, CEO of Humble, said.

Don't forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

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