5 Top Weekly TSXV Stocks: Lithium Stocks Surge

The S&P/TSX Venture Composite Index (INDEXTSI:JX) jumped on Friday (August 27), closing at 891.45.

Last week at Jackson Hole, the US Federal Reserve’s Chair Jerome Powell remarks pointed to the central bank being in no rush to begin reducing economic stimulus measures.

As a result, gold and silver were trending higher on Friday and the US dollar fell.

On the TSXV, over the five day trading week, a number of stocks in the mining sector saw a share price increase including:

• Dajin Lithium (TSXV:DJI)
• Phoenix Gold Resources (TSXV:PXA)
• American Lithium (TSXV:LI) 
• American Manganese (TSXV:AMY) 
• Playfair Mining (TSXV:PLY)

Without further ado, here’s a look at the 5 top weekly TSXV stocks.

Dajin Lithium

Lithium exploration company Dajin Lithium has interests in brine projects located in Argentina and Nevada. Dajin holds a 49 percent joint venture interest in 230,000 acres in Jujuy province with Litica Resources, an operating subsidiary of Pluspetrol Resources Corporation, an Argentinian oil and gas company. In Nevada, Dajin holds a 100 percent interest in 403 placer mining claims covering 7,914 acres in the Teels Marsh valley of Mineral County, Nevada.

On August 24, the company announced it received approval for the consolidation of its outstanding common shares. As a result of the news last week, Dajin Lithium’s share price saw an increase of 900 percent last week to C$0.80.

Phoenix Gold Resources

Phoenix Gold Resources is focused on exploration, development and acquisition of mineral properties. The company’s Phoenix Gold Project consists of the Plumas Property and Eldorado, covering approximately 24 hectares, and is located in the Battle Mountain mining district, Nevada. The York Harbour Property is 3,900 hectares, in an area that includes the mine site of past production of copper and zinc at the York Harbour mine, located in the Bay Islands region of Newfoundland.

Despite not releasing news last week, shares of Phoenix Gold Resources increased 52.78 percent last week to reach C$0.55.

American Lithium

American Lithium, is actively engaged in the acquisition, exploration and development of lithium projects within mining-friendly jurisdictions throughout the Americas. The company is currently focused on the continued exploration and development of its strategically located TLC lithium claystone project in the Esmeralda lithium district in Nevada.

In addition, American Lithium continues to advance its Falchani lithium and Macusani uranium development projects in southeastern Peru. Both Falchani and Macusani have been through preliminary economic assessments, exhibit strong additional exploration potential and are situated near significant infrastructure.

On August 25, the company announced the highest lithium extraction results to date, achieving 97.4 percent extraction utilizing warm sulfuric acid leach on TLC claystone mineralization. Last week, American Lithium’s share price jumped 43.75 percent to end the week at C$2.30.

American Manganese

American Manganese is a critical metals company focused on the recycling of lithium-ion batteries with the RecycLiCo™ patented process. The recycling process provides high extraction and purity of cathode metals, such as lithium, cobalt, nickel, manganese, and aluminum.

On August 24, American Manganese reported the successful upcycling of lithium-ion battery black mass into nickel-manganese-cobalt oxide 622 cathode precursor, using the company’s RecycLiCo™ closed-loop process. Later in the week, on August 26, the company announced the production of Electrolytic Manganese Metal in the final stages of the Wenden Stockpile Reclamation and Advanced Material Processing project, which was awarded to American Manganese by the US Department of Defense’s Defense Logistics Agency.

Over the five-day period, American Manganese’s share price increased 43.30 percent to trade on Friday at C$1.39.

Playfair Mining

Playfair Mining is a mineral exploration company focused on the RKV project in Norway, where it’s exploring for copper, cobalt and nickel in a historic base metal area of the country. Playfair’s core drilling program is expected to start in early September, the company said on August 23.

Last week, Playfair Mining’s share price jumped 42.86 percent to trade at C$0.20.

Data for 5 Top TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using Trading View using Stock Screener. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within energy minerals and non-energy minerals sectors are considered.

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

Editorial Disclosure: American Lithium and American Manganese are clients of the Investing News Network. This article is not paid-for content.