5 Top Weekly TSXV Stocks: Lithium Stocks Lead the Way

The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed trading last Friday (January 10) at 582.35 points — up by 4.68 points over the previous day, though behind where it was the same time the previous week, at 589.22 points.

Global news was dominated by the situation in the Middle East. The fallout from the assassination of Qasem Soleimani by the US continues to be felt, with air strikes on US facilities in Iraq and the accidental shooting down of Ukraine International Airlines Flight 752 after takeoff from Tehran.

While both sides appear to be holding off from further action, oil saw values increase as tensions flared, while gold also jumped.

Looking at the TSXV, here are the top five gainers in the resources and energy sectors over last week:

• American Lithium (TSXV:LI)
• Lithium Energi Exploration (TSXV:LEXI)
• Mason Graphite (TSXV:LLG)
• Eloro Resources (TSXV:ELO)
• Rugby Mining (TSXV:RUG)

Read on to find out more about what each company has been up to lately.

American Lithium

As its name suggests, American Lithium is a US-focused lithium company, with its flagship asset, the TLC project, located in the premier mining jurisdiction of Nevada. It also controls the Extinction Ridge vanadium project in the same state.

On January 3, the company reported that it would be undertaking a non-brokered private placement to raise proceeds of up to US$1 million to continue developing TLC.

American Lithium was trading at C$0.27 on the TSXV last Friday after gaining 76.67 percent over the preceding week of trading.

Lithium Energi Exploration

Another lithium-focused company, Lithium Energi Exploration has approximately 240,000 hectares of mining properties in the Antofalla Salar in Argentina.

The company is yet to release any news in 2020, with its last release on SEDAR being from back in August 2019; its website’s last upload is from the end of 2018.

Still, the company was up by 71.43 percent over last week, reaching C$0.18 by week’s end.

Mason Graphite

Canadian mining and mineral processing company Mason Graphite is the 100 percent owner of the Lac Guéret graphite project, which is located in Northeastern Quebec.

The most recent news from the company is from back in mid-December of last year, when it announced positive test results in lithium-ion cells for its anode material.

Mason Graphite ended last week trading at C$0.36, up by 69.05 percent over the previous week.

Eloro Resources

Eloro Resources is an explorer with gold and base metals properties in Peru and Quebec. Its flagship, the La Victoria gold-silver project, is in Peru.

With the company’s latest news on Thursday (January 9), Eloro will have assets in three countries. It has entered into a definitive agreement to acquire the Iska Iska polymetallic property in Bolivia. Iska Iska has returned samples of silver, gold, copper, lead, zinc, bismuth and indium.

Eloro was trading up by 66.67 percent last Friday, reaching C$0.38 by the end of the week.

Rugby Mining

Rugby Mining has a portfolio of projects in Australia, Argentina, Colombia and the Philippines, highlighting its Motherlode gold project in the Philippine province of Surigao Del Norte as its top focus.

According to the company’s website, its last releases were in mid-December 2019, though its last accessible release was in late October, when it closed a C$1 million non-brokered private placement.

Rugby Mining was trading at C$0.15 last Friday after gaining 52.63 percent over the previous week.

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 basic materials and energy sectors are considered.

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