5 Top Weekly TSXV Stocks: First Cobalt Rises on Government Investment

- December 20th, 2020

Last week’s top-gaining TSXV mining stocks were First Cobalt, Altan Rio Minerals, Happy Creek Minerals, CMC Metals and Emerita Resources

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the rise last week, opening on Monday (December 14) at 789.65 and closing the five day period at 817.81.

In the commodities space, precious metals pushed higher, including gold, which neared the US$1,900 per ounce mark once again, and platinum, which hit its highest point so far this year.

Copper also surpassed its previous year-to-date high, setting another 2020 record.

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Against that backdrop, the TSXV-listed mining stocks below saw the biggest share price moves last week:

Here’s a look at what may have moved their share prices over the last five days.

1. First Cobalt

First Cobalt is a vertically integrated cobalt exploration and development company with three assets located in Idaho, US, and Ontario, Canada. The company is focused on developing a supply of battery-grade cobalt in North America for the rapidly growing electric vehicle market.

The company’s Ontario-based refinery is the only permitted primary cobalt refinery in North America, and could produce 25,000 tonnes of cobalt sulfate per year from third party feed.

Last week, the company received C$10 million in funding from the governments of Canada and Ontario. Its share price increased 114.29 percent during the period to close at C$0.30.

2. Altan Rio Minerals

Altan Rio Minerals is focused on the Southern Cross greenstone belt in Western Australia, which it says is a prolific producer of gold. Its primary asset is the Southern Cross North gold project; it also has an exploration and mining agreement with Tianye SXO Gold Mining for the Pilot gold deposit.

There was no news from Altan Rio last week, but its share price rose 72.73 percent to finish at C$0.19.

3. Happy Creek Minerals

Happy Creek Minerals has centered its efforts mainly on two properties in British Columbia: the Fox tungsten project and the Rateria and West Valley copper projects. Rateria and West Valley adjoin the producing Highland Valley copper mine.

 

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Last Thursday (December 17), Happy Creek completed a drill program in the Highland Valley area. The company completed 2,058.5 meters across four holes over the course of the year, and results are expected in four to six weeks. Its share price jumped 64.71 percent last week to end at C$0.14.

4. CMC Metals

CMC Metals describes itself as a growth-stage company focused on precious and base metals exploration in Canada. Its flagship Yukon-based Silver Hart project is comprised of high-grade silverleadzinc veins; among others, CMC Metals also holds the Logjam and Bishop Mill properties.

The latest announcement from CMC Metals came on December 10, when it revealed a $500,000 private placement. Despite the lack of fresh news, its share price rose 60 percent last week to reach C$0.20.

5. Emerita Resources

Emerita Resources is advancing its Plaza Norte zinc project in Northern Spain with its joint venture partner Grupo Aldesa, a Spanish construction and infrastructure firm; the company is also in the process of acquiring the Aznalcollar and Paymogo properties in Southern Spain.

There was no news from Emerita last week, but its share price experienced a rise of 40 percent to end the period at C$0.25. The company’s most recent news was on December 11, when it closed a private placement for gross proceeds of $5,175,000.

Data for 5 Top Weekly TSXV 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$10 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.

Editorial Disclosure: Emerita Resources and First Cobalt are clients of the Investing News Network. This article is not paid-for content. 

 

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