5 Top Weekly TSXV Stocks: Fjordland Up on Drill Program
Last week’s other top-gaining mining stocks on the TSXV were White Metal Resources, Murchison Minerals, Kaizen Discovery and European Electric Metals.
Last Friday (July 13), the S&P/TSX Venture Composite Index (INDEXTSI:JX) fell 4.76 points, down 0.65 percent, to close at 724.21.
Trade war fears seem to be here to stay, and markets are responding accordingly, with base metals down and the stock markets generally flat this week.
On the TSXV, the Investing News Network took a look at how the junior miners have been faring this week. Below are the top five gainers for the week ending July 13.
- White Metal Resources (TSXV:WHM)
- Murchison Minerals (TSXV:MUR)
- Kaizen Discovery (TSXV:KZD)
- Fjordland Exploration (TSXV:FEX)
- European Electric Metals (TSXV:EVX)
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White Metal Resources
White Metal explores Ontario and Newfoundland for precious and base metals. The company has three projects on its books; Gunners Cove in Newfoundland, Shebandowan in Ontario and Pickle Lake, also in Ontario.
Its most recent news was about Gunners Cove on July 11, when the company revealed the discovery of a new target zone on the property and more details about ongoing exploration there.
The company said that to date, 15 new areas of gold mineralization had been discovered, of which three were identified as high-priority follow-up targets.
The news went down well, with the company’s share price on the Toronto Stock Exchange more than doubling to C$0.23 last week, a jump of 109 percent.
Murchison Minerals
Murchison minerals is a base metals-focused company with its attention mostly on its high-grade Brabant-McKenzie deposit in northern Saskatchewan, although the company also has a pot on the boil in Quebec.
Murchison didn’t release any news last week, but its most recent news was about Brabant-McKenzie back in late June, detailing very promising drill results from its 2018 drill program.
The company’s share price finished out the week up 47.83 percent to C$0.17.
Kaizen Discovery
Kaizen Discovery is a base and precious metals explorer focused on South America. It’s majority owned by HPX TechCo, which is a privately-owned company led by Robert Friedland.
Along with three projects up for purchase or joint venture, Kaizen has the Pinaya copper-gold project in Peru which is holds up as its core focus.
According to the company, Pinaya has estimated measured resources of 8.2 million tonnes grading 0.33 percent copper, and estimated indicated resource of 33.5 million tonnes grading 0.32 percent copper.
Kaizen released news last week, updating shareholders on an exploration program at the project. The prior consultation process with the Peruvian government and the local population has been completed, allowing the company to proceed with its first phase of drilling.
Kaizen posted a 33.33 percent gain on the Toronto Venture Exchange over the five-day period, going from C$0.065 to C$0.08.
Fjordland Exploration
Fjordland released news this week that it was starting drilling at the South Voisey’s Bay nickel-cobalt project in Labrador, where its neighbour is Vale’s (NYSE:VALE) Voisey’s Bay mine.
Robert Friedland’s HPX appears for the second time on this list this week, as his company, along with Commander Resources (TSXV:CMD) is a partner with Fjordland at South Voisey’s Bay.
The initial drill program was reported to be 1,300 m of drilling in 6-8 holes and included a property-wide geological mapping and additional target assessment.
Shares of the company increased 30 percent last week, closing at C$0.26.
European Electric Metals
Vancouver-based European Electric Metals seeks to become a major industry source of metals vital for the burgeoning lithium-ion battery market, including copper, nickel and cobalt.
The company’s most recent news was over a month ago, when European Electric Metals posted assay results from its Rehova copper project in Albania.
Shares in the company increased 20 percent to close at C$0.18 last week.
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.
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Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
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