5 Top Weekly TSXV Stocks: M2 Cobalt Completes Initial Drilling

Last Friday (January 11), the S&P/TSX Venture Composite Index (INDEXTSI:JX) rose by 4.81 points, or 0.81 percent, to reach 601.74.

In commodities, gold spent the week gaining value as the greenback slipped, while over in base metals copper made minor gains. The news was mostly about the US shutdown while markets wavered along.

On the TSX Venture Exchange, top gainers were all over the place, with base metals dominating and cobalt making an appearance. The five top-gaining stocks are as follows:

• Minsud Resources (TSXV:MSR)
• NorthIsle Copper and Gold (TSXV:NCX)
• M2 Cobalt (TSXV:MC)
• Monument Mining (TSXV:MMY)
• PJX Resources (TSXV:PJX)

Read on to see what each company has been up to lately.

Minsud Resources

Minsud Resources is an explorer with a focus on its flagship Chita Valley copper-molybdenum-gold-silver project in Argentina. It has a portfolio of other projects in Argentina as well.

Minsud’s most recent release on SEDAR is from November 29, when it filed its interim financial statements. Before that, on its website its most recent news is the June closing of a private placement that raised C$823,000.

On the TSXV last week, Minsud’s share price increased by C$0.03 to C$0.08 — a 60-percent rise in value that puts it at the top of this list percentage-wise.

NorthIsle Copper and Gold

NorthIsle Copper and Gold is developing its 100-percent-owned North Island copper-gold project in Northern Vancouver Island, an area with a long history of resource development and mining. The brownfields project includes two defined deposits, Hushamu and Red Dog, along with a number of other potential targets.

The company’s most recent news is the completion of an initial drill program at its Pemberton Hills project, also on Vancouver Island. According to the company, multiple holes intersected advanced argillic alteration, which may be associated with porphyry copper occurrences.

That news was back in December though. Despite no news last week, NorthIsle’s share price rose by 56.25 percent on the TSX Venture Exchange, reaching C$0.125 by Friday.

M2 Cobalt

M2 Cobalt is an exploration company focused on discovering and developing world-class cobalt assets in Uganda that can help meet the ongoing growth in demand for cobalt globally.

The company has fresh news, announcing last Thursday (January 10) that it has completed 2,000 meters of initial diamond drilling at its Kilembe area properties in Uganda, where it was targeting copper-cobalt.

In Toronto, M2 Cobalt was up 41.18 percent at C$0.24 by Friday.

Monument Mining

Canadian developer and miner Monument Mining has three projects across Malaysia and Australia: Selingsing, Murchison and Mengapur.

The company’s most recent release (from December 14) covers the results of its annual general meeting, but the more interesting release was its first fiscal quarter results, which came out on November 28.

Monument was up on the TSXV by 40 percent last week, reaching C$0.07.

PJX Resources

Canada-focused explorer PJX Resources has eight properties in BC, where it explores for gold, silver and base metals. One of its properties, DD, is being explored by Teck Resources (TSX:TECK.A,TSX:TECK.B,NYSE:TECK), which is looking for a zinc–lead-silver deposit.

PJX is another company with fresh news, announcing on Monday (January 7) that there is potential for a large massive sulfide body supported by additional geophysics on its Vine property in BC.

In Toronto PJX was up by 36 percent last week, trading at C$0.34 by Friday.

Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView. Only companies with market capitalizations greater than C$10 million prior to the week’s gains are included. Companies within the basic materials and energy sectors are considered.

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

Editorial Disclosure: Northisle Copper and Gold and M2 Cobalt are clients of the Investing News Network. This article is not paid-for content.