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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 last week by 2.4 percent to 715.59 points.
Overall, the index is up 36.13 percent for 2016. For the period of June 11, 2015 to June 10, 2016, it’s up by $25.74, or 3.73 percent.
However, with the price of gold increasing 2.4 percent to $1,276.30 per ounce over the past week, it appears as though interest in gold was outweighing investor interest in stocks.
Still, a number of companies on the TSXV saw strong weekly percentage gains. The top five gainers for the week were:
- Nicola Mining (TSXV:NIM)
- Rathdowney Resources (TSXV:RTH)
- Alset Energy (TSXV:ION)
- CanAlaska Uranium (TSXV:CVV)
- MX Gold (TSXV:MXL)
Here’s a closer look at those companies:
Nicola Mining
Nicola Mining made significant gains last week, rising 65 percent to $0.17. Year-to-date, the company’s stocks have rallied 153.85 percent, and 180.72 percent overall for a one-year period.
Most recently, Nicola Mining provided an update on exploration work at its Thule Project, a wholly-owned project located northwest of Merritt, British Columbia. Among some of the updates, the company reported 53 trench samples collected with a range from 72 ppm copper to 1.68 percent copper.
Rathdowney Resources
Rathdowney Resources is currently focused on advancing its Olza zinc–lead–silver project in Poland. The company’s latest news release came in January wherein the company announced a $310,000 loan, which it states will be used for working capital.
Last week, Rathdowney jumped 44.4 percent, a $0.08 increase, to $0.26. Year-to-date, the company has steadily risen 48.57 percent.
Alset Energy
Alset Energy has fallen down the list for the second week in a row, dipping down to third on our list from last week’s second place. Still, the company’s stocks have gained 42.86 percent, or $0.24, to $0.80. Even more impressive is their 5,233.33 percent increase year-to-date, making $0.79 in gains.
The company is currently focused on its Wisa Lake lithium, Champion graphite and Goodchild projects. Alset’s most recent news came at the end of May when the company announced samples of up to 6.38 percent lithium oxide at Wisa Lake.
CanAlaska Uranium
Last week, CanAlaska Uranium made gains of 42.31 percent per share, a $0.22 spike, to $0.74. Year-to-date, however, has seen even more impressive gains of 572.73 percent, or $0.63.
Since 2004, the company has been undertaking uranium exploration in the Athabasca Basin and currently has two key uranium properties: the West McArthur Project and Cree East Project. The most recent news came at the end of May when Cameco (TSX:CCO) announced their summer drilling plans at CanAlaska’s West McArthur project.
MX Gold
Last but not least on this week’s TSXV list is MX Gold. The company recently announced their name change from Discovery Ventures to MX Gold, effective June 6, 2016. The company has three projects: the Willa Mine, the Willa Mine and Max Mill combined operation, and the Max Molybdenum Mine and Mill.
Over a five-day period, MX has made gains of 41.18 percent, or $0.07, to $0.24. Year-to-date, shares of the company have seen a 65.52 increase.
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.
Top TSXV stocks in recent weeks:
5 Top TSXV Stocks: Rugby Mining Tops the List Rising 100 percent
5 Top TSXV Stocks: Alset Energy Jumps 176.92 percent
5 Top TSXV Stocks: Cartier Resource Rises 55 Percent
5 Top TSXV Stocks: Sutter Gold Mining Rose by 127.27 percent
5 Top TSXV Stocks: Kootenay Silver Rises 64 Percent
5 Top TSXV Stocks: CB Gold Gains 83 Percent
5 Top TSXV Stocks: Encanto Gains 100 Percent on Offtake MOU
CVV:CA
