Rugby Mining was the top gaining TSXV stock, with Alset Energy, Foran Mining, Gold Reserve and Colorado Resources closing out the top five.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was up this week by 2.27 percent to 693.71.
Overall, the index is up 31.97 percent for 2016. According to the Financial Post, this makes it “by far and away the best performing index among the 27 global exchanges with market caps in excess of US$1 billion.”
For the period June 4, 2015 to June 3, 2016, it’s up by $1.26, or 0.18 percent.
A number of companies on the TSXV also saw strong weekly percentage gains. The top five gainers for the week were:
- Rugby Mining (TSXV:RUG)
- Alset Energy (TSXV:ION)
- Foran Mining (TSXV:FOM)
- Gold Reserve (TSXV:GRZ)
- Colorado Resources (TSXV:CXO)
Here’s a closer look at those companies:
Up first is Rugby Mining, whose shares have gained 100 percent over the last five days to $0.30, and 500 percent for the year. The company is focused on the exploration for gold and copper projects.
Most recently, Rugby Mining announced they had acquired a new gold project in Colombia, which was secured through the purchase of a subsidiary of Barrick Gold (TSX:ABX).
Alset Energy also had a successful week, although it dropped from the top spot down to second. Since last week, the company’s shares rallied 55.56 percent, or by $0.15, to set a new 52-week high. Year-to-date, Alset Energy has risen 3,633.33 percent.
Earlier this week, the company reported energy samples of up to 6.38 lithium oxide at their Wisa Lake property.
Foran Mining’s focus is on copper-zinc in the Hanson Lake Camp in east-central Saskatchewan. Most recently, the company announced its financial results for the three-month period ended March 31, 2016 wherein they recorded a net loss of $315,435.
Despite that loss, Foran Mining’s shares saw gains of 53.13 percent to $0.25 last week, and have risen 226.67 year-to-date.
Over a five-day period, Gold Reserve’s shares rallied 46.69 percent to sit at $5.09. The company has gained 45.85 year-to-date. Since 1992, the company has been developing what is now known as the Brisas gold and copper project, located in southeastern Venezuela.
At the end of May, the company announced an extension of the previously announced February 24, 2016 memorandum of understanding with Venezuela. The memorandum of understanding also includes the establishment of a new joint venture for the development of the Brisas and Cristinas gold-copper projects by Gold Reserve and Venezuela.
Last but not least, Colorado rounded up the top five list for the week, making gains of 37.50 percent to sit at $0.44 per share. The company’s current exploration focus is to continue advancing the KSP property from SnipGold and its North ROK property, both of which are in British Columbia.
At the beginning of June, Colorado Resources announced that it had completed the final tranche of its non-brokered private placement for aggregate gross proceeds of $910,000.
Data for 5 Top 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, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
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