Last week’s top-gaining mining stocks on the TSXV were Gungnir Resources, QC Copper and Gold, Ultra Resources, BCM Resources and Graphite One.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the rise last week, opening at 868.56 and closing the five day period slightly higher at 876.7.
The US Federal Reserve also met, indicating that it could start tapering bond purchases in November; the American central bank also said it will aim to start raising its benchmark interest rate next year.
Last week’s five TSXV-listed mining stocks that saw the biggest gains are as follows:
- Gungnir Resources (TSXV:GUG)
- QC Copper and Gold (TSXV:QCCU)
- Ultra Resources (TSXV:ULT)
- BCM Resources (TSXV:B)
- Graphite One (TSXV:GPH)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Gungnir Resources
Gungnir Resources has gold and base metals permits in Sweden. Knaften, its main asset, holds a developing intrusion-hosted gold system, plus volcanogenic massive sulfide and copper-nickel targets. East of Knaften, the company has the Lappvattnet and Rormyrberget nickel-copper-cobalt deposits.
Last Tuesday (September 21), Gungnir reported high-grade nickel results from ongoing drilling at Lappvattnet, with highlights including 6.67 percent nickel within 5.65 meters grading 2.62 percent nickel. Its share price rose 65.38 percent to close at C$0.22.
2. QC Copper and Gold
QC Copper and Gold is focused on acquiring and developing copper projects in Quebec’s Chibougamau region, with the goal of finding assets that share synergies with its past-producing Opemiska copper mine complex, which covers 13,000 hectares.
Last Monday (September 20), QC shared the initial mineral resource estimate for Opemiska. According to the company, the deposit has a pit-constrained measured and indicated resource of 81.7 million tonnes at 0.88 percent copper equivalent, and an inferred mineral resource of 21.3 million tonnes at 0.73 percent copper equivalent. QC’s share price increased 61.11 percent last week to end at C$0.29.
3. Ultra Resources
Ultra Resources is an explorer and developer with a focus on lithium, gold and copper assets. The company has a lithium brine project in Argentina, as well as other gold and base metals properties in the country; it also has hard-rock lithium properties in Ontario and a lithium brine property in Nevada.
Last Friday (September 24), Ultra announced plans to start exploration work at its Argentina-based Laguna Verde lithium brine project. Its share price jumped 57.69 percent on the news to finish at C$0.21.
4. BCM Resources
BCM Resources is exploring the Thompson Knolls porphyry copper-gold-molybdenum project, located in Utah about 200 kilometers from the Bingham Canyon mine. Aside from that key asset, the company controls other prospective copper, gold and molybdenum assets projects in BC.
Last Tuesday, BCM closed a non-brokered private placement financing for gross proceeds of C$1.1 million. The funds will be used for exploration at Thompson Knolls, and for general and administrative expenses. The company’s share price ended last week at C$0.20 after rising 56 percent.
5. Graphite One
Graphite One describes itself as exploring, with the intent to develop, its Graphite Creek project in Alaska. It believes it has the potential to become the dominant American producer of high-grade coated spherical graphite integrated with a domestic graphite resource.
Last Friday, the company closed the second and final tranche of a brokered private placement financing, raising gross proceeds of C$998,000. Graphite One’s share price increased 56 percent to end at C$1.56.
Data for 5 Top Weekly TSX 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$50 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.