5 Top Weekly TSXV Stocks: Foran Mining Surges on Drill Results

Canada’s indexes closed another week relatively flat, with the S&P/TSX Venture Composite Index (INDEXTSI:JX) up 31.34 points, or 0.2 percent, at 15,641.23.

Gains on the TSX were mostly led by financial institutions on positive news between the Koreas, and a potential NAFTA deal.

Miners saw more modest gains compared to last week, with increases coming from lithium, gold, zinc and cobalt stocks.

Last week’s five top-gaining mining companies on the TSX are as follows:

• Marifil Mines (TSXV:MFM)
• Foran Mining (TSXV:FOM)
• European Electric Metals (TSXV:EVX)
• Newport Exploration (TSXV:NWX)
• Maya Gold and Silver (TSXV:MYA)

Without further ado, here’s a look at the five top weekly TSXV stocks.

Marifil Mines

Canadian lithium-gold-cobalt miner Marifil Mines saw its share price jump last week despite not releasing any news. The company has mining interests in Argentina, where it has lithium exploration programs, a 51-percent stake in a gold exploration project and a cobalt property.

Shares in the company increased by 32.14 percent over the week to reach C$0.18.

Foran Mining

Canadian mining and exploration company Foran Mining released details last week about exceptional thickness and base metals grades encountered at its zinc–copper McIlvenna Bay property in Saskatchewan. According to the company, McIlvenna Bay is the largest undeveloped volcanogenic massive sulfide deposit along the 225-kilometer Flin Flon Greenstone Belt.

The company’s share price jumped 22.22 percent over the five-day period to close at C$0.50.

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.

Shares of European Electric Metals increased 19.4 percent to close at C$0.40 last week. There has been no recent company news that would explain the price increase.

Newport Exploration

Newport Exploration released positive production results for its royalties on the Australia-based Cooper Basin oil and gas project on April 24. The company also owns the Chu Chua copper-gold deposit north of Kamloops in BC.

Newport Exploration’s share price increased by 19.3 percent over the week to end at C$0.34.

Maya Gold and Silver

Canadian miner Maya Gold and Silver, which is focused on gold and silver assets in Morroco, saw its share price jump by over 15 percent during the week. The company announced the closing of an oversubscribed non-brokered private placement on April 16.

Over the five-day period, the company’s share price increased 15.18 percent to close at C$0.08.

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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.

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