5 Top Weekly TSXV Stocks: Graphite Companies Make Moves

The S&P/TSX Venture Composite Index (INDEXTSI:JX) ended last Friday (October 9) at 731.67. 

After starting the period at 715.11, the index was supported by the news that Canada added 378,000 new jobs in September. That’s within 720,000 positions of where the job market was prior to COVID-19.

In the metals sector, the gold price was also trending upward, finally moving out of the US$1,900 per ounce range where it had been stuck for several weeks.

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

• Focus Graphite (TSXV:FMS)
• Finlay Minerals (TSXV:FYL)
• Altamira Gold (TSXV:ALTA)
• Graphite One (TSXV:GPH)
• Petroteq Energy (TSXV:PQE)

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

1. Focus Graphite

Explorer Focus Graphite’s aim is to produce flake graphite concentrate at its Quebec-based Lac Knife deposit. In addition to that, Focus is looking at the feasibility of producing value-added graphite products.

Aside from filing documents on SEDAR, the company hasn’t released any news since the summer. Last week, its share price shot up 100 percent to close at C$0.04.

2. Finlay Minerals

British Columbia-focused Finlay Minerals is interested in base and precious metals deposits in the province. The company’s last piece of news came in mid-September, when it shared an exploration plan for its Silver Hope property in the province. Work is set to start in early October with assay results expected by the end of November.

Despite the lack of fresh news, Finlay’s share price jumped 66.67 percent to end last week at C$0.13.

3. Altamira Gold

Brazil-focused Altamira Gold has honed its efforts on the exploration and development of gold projects located in the country’s west-central region. Its Cajueiro gold project is its most advanced asset.

Altamira’s latest news came in early October, when it gave an update on its financing deal with Metalstream. According to the company, Metalstream has failed to make any of its required payments and is in breach of its contract. Altamira’s share price rose 58.62 percent last week to finish at C$0.23.

4. Graphite One

Graphite One describes itself as exploring, with the intent to develop, its Graphite Creek project in Alaska. It believes it has the potential to become the dominant American producer of high-grade coated spherical graphite integrated with a domestic graphite resource.

The most recent piece of news from Graphite One came at the beginning of October, when it commented on a new executive order issued by US President Donald Trump. In the missive, Trump calls America’s dependence on other countries for critical minerals a national emergency, making specific note of graphite, among other minerals and metals.

The company’s share price increased by 56.1 percent last week, closing at C$0.64.

5. Petroteq Energy

Petroteq Energy is working to develop and implement its proprietary, environmentally friendly heavy oil processing and extraction technologies. It is also developing its oil sands resources and expanding production capacity at its Utah facility.

The company’s share price rose 41.67 percent last week to reach C$0.09. The latest announcement from Petroteq came at the end of September, when it said it has overcome supply-side issues related to COVID-19 and will be receiving equipment to improve its capacity and cost per barrel.

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: Finlay Minerals is a client of the Investing News Network. This article is not paid-for content.