Last week’s top-gaining stocks on the TSXV were Northern Graphite, Canada Cobalt Works, Puma Exploration and Rathdowney Resources.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed the week down at 739.96 points, declining 2.17 percent.
Oil prices rose on Friday (June 29) on the back of concerns that US sanctions against Iran would remove a substantial volume of crude oil at a time of rising global demand. Higher oil prices helped boost the energy sector, while the loonie also moved higher.
The TSXV index ended the quarter 5.90 percent down, while Canada’s main index, the TSX, closed up 6.34 percent.
That said, a number of stocks in the mining sector saw a share price increase including:
- Tinka Resources (TSXV:TK)
- Northern Graphite (TSXV:NGC)
- Canada Cobalt Works (TSXV:CCW)
- Puma Exploration (TSXV:PUMA)
- Rathdowney Resources (TSXV:RTH)
Without further ado, here’s a look at the 5 top weekly TSXV stocks.
Tinka is an exploration and development company with its flagship property being the 100-percent-owned Ayawilca carbonate replacement deposit in the zinc-lead–silver belt of central Peru, northeast of Lima.
On June 26, the company announced assay results from a drilling program at its Ayawilca project. Shares of the company increased 23.60 percent last week to reach C$0.55.
Northern Graphite’s 100-percent-owned Bissett Creek deposit, which is located in southern Canada, is an advanced stage graphite project that has a full feasibility study and its major environmental permit.
The latest company news came on June 4, when Northern Graphite announced it had signed a memorandum of understanding with an European commodity trading company to sell 100 percent of the projected production from the Bissett Creek project. Shares of the company increased 18.57 percent last week to reach C$0.40.
Canada Cobalt Works
Canada Cobalt is a pure play cobalt company focused exclusively on the Northern Ontario Cobalt camp. The company has three 100-percent-owned past-producing mines, a proprietary hydrometallurgical process known as Re-2OX, and plans for a 600-tonne-per-day mill at its flagship Castle property near Gowganda.
On June 28, the company announced it had set up a pilot plant at Castle mine as the company continues underground drilling and scales up its Re-2OX cobalt sulphate program with SGS Lakefield. Shares of Canada Cobalt Works jumped 17.19 percent last week to reach C$0.75.
Puma Exploration is an exploration company with advanced precious and base metals projects in Canada. The company’s major assets consist of an option to acquire 100 percent beneficial interest in the Murray Brook Property, the Turgeon zinc-copper project and the Nicholas-Denys project all located in New Brunswick as well as an equity interest in BWR Resources, Manitoba.
Over the five day period, shares of Puma Exploration saw a spike of 16.67 percent to close the five day period at C$0.06.
Rathdowney Resources is a Canadian publicly-traded company whose primary focus is developing and permitting its flagship, 100-percent-owned Olza zinc-lead-silver development project in Poland. On June 27, announced that it has secured two loans for aggregate proceeds of $230,500
Over the five day period, shares of Rathdowney Resources saw a spike of 12 percent to close the five day period at C$0.14.
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Data for 5 Top TSX 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, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Canada Cobalt Works and Puma Exploration are clients of the Investing News Network. This article is not paid-for content.