5 Top Weekly TSXV Stocks: Garibaldi Resources Soars Over 50 Percent

The S&P/TSX Venture Composite Index (INDEXTSI:JX) gained 2.22 percent on Friday (August 11) to end at 760.84 points.
Tensions between the US and North Korea escalated last week, and were stoked further on Friday when US President Donald Trump tweeted that military solutions are “locked and loaded, should North Korea act unwisely.” The CBOE Volatility Index reached its highest level since the US presidential election on Thursday (August 10).
July US consumer price data released Friday was weaker than expected, which could make the US Federal Reserve think twice about raising rates again in 2017. The Consumer Price Index rose 0.1 percent in July, which was below the 0.2-percent gain predicted by economists polled by Reuters.

Against that backdrop, a number of TSXV-listed mining stocks experienced significant share price gains last week. The five top gainers are as follows:

• Garibaldi Resources (TSXV:GGI)
• Karmin Exploration (TSXV:KAR)
• Camino Minerals (TSXV:COR)
• Northisle Copper and Gold (TSXV:NCX)
• Falco Resources (TSXV:FPC)

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

Garibaldi Resources

Garibaldi Resources’ current focus is its 200-square-kilometer land package in BC’s Eskay Mining Camp, where the E&L project at Nickel Mountain is located. The company’s most recent news came on July 27, when it announced a new surface discovery at E&L; the find was made after the company followed up on the first of four VTEM conductor targets.
The company said widespread pyrrhotite-chalcopyrite mineralization was identified on surface in gabbroic rocks that outcrop over a broad area at Anomaly A. Anomaly A is located about 6 kilometers north-northeast of historic nickel-copper mineralized zones at E&L, where more drilling will start soon.
Garibaldi Resources’ share price rose 50.65 percent to close at $0.54 last week.

Karmin Exploration

Karmin Exploration has three projects in South America: the Aripuana zinc project and Aripuana gold project in Brazil, plus the Cushuro gold project in Peru. The company has not released any news since March, but last week its share price rose 45.45 percent to close at $0.79.

Camino Minerals

Camino Minerals has several projects in Peru, including the Los Chapitos copper-silver project, the Plata Dorada copper-silver-gold project and the Red Beds copper project. Camino also holds the Lost Cabin gold project in Nevada.
The latest news from Camino came on July 20, when it reported initial drill results from the Katty zone at Los Chapitos. Camino said drilling will continue and noted that it will report further assay results once they are received. The company’s share price rose 42.86 percent last week to close at $0.62.

Northisle Copper and Gold

Northisle Copper and Gold owns the North Island copper-gold project in BC. Last week, the company’s share price rose 38.46 percent to close at $0.18.
On July 27, the company completed a six-hole drill program at the project, commenting that core samples have been sent to a lab in Vancouver. North Island is comprised of four deposits, and the firm also said it will have a preliminary economic assessment ready for two of those deposits, Hushamu and Red Dog, by the end of August.

Falco Resources

Falco Resources has exploration properties in Quebec’s historic Rouyn-Noranda Mining Camp. The company’s Horne 5 project in the area covers the past-producing Horne and Quemont mines. Osisko Gold Royalties (TSX:OR,NYSE:OR) is the firm’s largest shareholder, and currently owns 13.3 percent of the company’s outstanding shares.
The company has not released any news since June, but last week its share price rose 30.43 percent to close at $0.15. It is currently focusing on exploration at Horne 5, and expects to release a feasibility study and environmental impact assessment for the project this year.
Data for 5 Top Weekly 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, Melissa Shaw, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Northisle Copper and Gold and Falco Resources are clients of the Investing News Network. This article is not paid-for content.