5 Top Weekly TSXV Stocks: Arena Rises on Ganfeng Investment

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the rise last week, climbing from 942.1 at the open to its close on Friday (February 5) of 1,022.95. 

Excitement was in the air last week as the silver space received attention on the back of chatter on Reddit’s WallStreetBets forum. The metal’s price took a leap, but it wasn’t long before it fell back down.

Despite the focus on silver, many of last week’s top risers on the TSXV are focused on battery metals like lithium. The metal was in the spotlight last week after Benchmark Mineral Intelligence said its data shows that in January lithium carbonate prices increased by over 40 percent within China.

The TSXV-listed mining stocks below saw the biggest share price moves last week:

• Arena Minerals (TSXV:AN)
• Global Battery Metals (TSXV:GBML)
• Red Moon Resources (TSXV:RMK)
• Gratomic (TSXV:GRAT)
• Diamond Fields Resources (TSXV:DFR)

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

1. Arena Minerals

Arena Minerals has two main projects: Argentina-based Antofalla and an 80 percent stake in the Atacama asset in Chile. The former is a lithium brine property that covers 6,000 hectares and the latter is a 7,000 hectare package focused on copper.

Last Wednesday (February 3), the company announced a $2.8 million non-brokered private placement financing led by top lithium producer Ganfeng Lithium (OTCQX:GNENF,HKEX:1772). Arena’s share price rose 375 percent on the news to close last week at C$0.19.

2. Global Battery Metals

Battery metals exploration company Global Battery Metals has two key properties. The first of its assets is an option to acquire up to 90 percent of the North-West Leinster lithium project in Ireland, and the second is a 55 percent interest in the Lara copper project in Peru.

There was no news from Global Battery Metals last week, but its share price rose 326.67 percent to finish at C$0.96. In a SEDAR filing on Monday (February 2), the company said it was unaware of what could be causing the increase in market activity.

3. Red Moon Resources

Exploration and development company Red Moon Resources is focused on industrial minerals and is developing Canadian projects centering on gypsum, salt and nepheline. Nepheline is a source of aluminum, sodium and potassium.

A SEDAR filing from last Thursday (February 4) shows that lithium-focused Vulcan Resources (TSXV:VUL) announced the disposition of 3 million common shares of Red Moon, equal to 5.93 percent of the company’s outstanding common shares on an undiluted basis. Vulcan still owns 57.1 percent of Red Moon’s outstanding common shares. Red Moon rose 146.15 percent last week to close at C$0.32.

4. Gratomic

Exploration and advanced materials company Gratomic has two graphite projects: Aukam in Namibia and Buckingham in Quebec. The company has two offtake deals for Aukam, which covers a historical vein graphite mine, and is solidifying plans to micronize and spheronize graphite from the asset.

There was no news from Gratomic last week, but its share price rose 95.51 percent to close at C$0.87.

5. Diamond Fields Resources

Diamond Fields Resources is an exploration and mine development company with assets in Madagascar and Namibia. In Madagascar it has the Beravina zircon project, and in Namibia it owns a number of offshore diamond-mining licenses.

There has been no recent news from Diamond Fields. Despite the lack of fresh announcements, last week it saw a share price uptick of 75 percent to close at C$0.25.

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