Battery Metals

Lithium Investing

Last week’s top-gaining mining stocks on the TSXV were American Lithium, Chakana Copper, Condor Resources Brigadier Gold and Patagonia Gold.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed last Friday (July 10) at 685.39, up about 40 points from Monday’s (July 6) open of 643.54. 

The major news in the resource space last week was gold‘s rise above US$1,800 per ounce, a milestone it had not hit since 2011. The broader precious metals space also moved upward.

Gold has held steady at that level since reaching it, buoyed by a weak US dollar and COVID-19 concerns.

Against that backdrop, the companies below saw major share price moves last week:

  • American Lithium (TSXV:LI)
  • Chakana Copper (TSXV:PERU)
  • Condor Resources (TSXV:CN)
  • Brigadier Gold (TSXV:BRG)
  • Patagonia Gold (TSXV:PGDC)

Here’s a look at what may have moved their share prices during the period.

1. American Lithium

As its name suggests, American Lithium’s goal is to acquire, explore and develop lithium resources in the Americas. Its main asset is the TLC lithium claystone discovery in Nevada’s Esmeralda lithium district.

Last Wednesday (July 8), the company issued a statement on its recent trading activity at the request of the Investment Industry Regulatory Organization of Canada, saying that it was not aware of any material changes. Two days later, American Lithium announced an arrangement that will allow it to reduce its royalty obligations for TLC and expand its position in the Esmeralda area.

The firm’s share price rose 161.11 percent last week to end at C$2.35.

2. Chakana Copper

Peru-focused Chakana Copper is advancing its Soledad project, which it has the option to acquire from Condor Resources. It is located 35 kilometers south of Barrick Gold’s (TSX:ABX,NYSE:ABX) Pierina mine.

Last week, the company released two pieces of news. First, on Thursday (July 9), it received an expanded drill permit for Soledad; Chakana plans to complete a 15,000 meter drill program at the property once COVID-19 work protocols have been approved. Second, on Friday, the company granted stock options to certain of its directors, officers and consultants.

During the five day period, Chakana’s share price rose 129.17 percent to hit C$0.55.

3. Condor Resources

Explorer and project generator Condor Resources has its sights set on precious and base metals in Peru. The company has nearly a dozen assets in the country, including Soledad, which as mentioned is optioned to Chakana Copper.

Condor did not release any news last week, but it appears to have been buoyed by the news from Chakana — its share price rose 108.11 percent to close at C$0.39.

4. Brigadier Gold

Brigadier Gold is exploring and developing gold and silver assets in North America. The company’s listing on the TSX Venture Exchange was reactivated recently, and last Tuesday (July 7), it entered into a binding letter of intent to acquire 100 percent of the Picachos gold-silver project in Mexico.

Also last week, Brigadier announced a non-brokered private placement for gross proceeds of up to $2.5 million; it then increased the financing to up to $3.5 million. The company’s share price rose 92.31 percent during the period to finish at C$0.50.

5. Patagonia Gold

Patagonia Gold’s efforts are centered on gold and silver projects in Argentina. Its main assets are Calcatreu and Cap Oeste; via its subsidiaries or through option agreements, the company has mineral rights to over 360 properties in several provinces of Argentina, as well as Chile.

Patagonia Gold had no news last week, but its share price jumped 83.33 percent to end at C$0.11.

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.

Don’t forget to follow us @INN_Resource for real-time updates!

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


S&P 5003785.380.00


Heating Oil3.99+0.16
Natural Gas5.91+0.48