Battery Metals


Power Metals was last week’s top gainer on the TSXV. The battery metals-focused explorer’s share price climbed 100 percent.

After hitting a historical low of 331.36 on March 18, the S&P/TSX Venture Composite Index (INDEXTSI:JX) made gains last week, but remained below 450.

Canada’s venture exchange started the period at 355.87 and was able to rise steadily until Thursday (March 26), when it peaked at 408.58.

Renewed investor risk appetite following mass selloffs and liquidations in early March benefited the precious metals sector during the last week of the month; however, the energy industry continues to face headwinds from the ongoing oil feud between Saudi Arabia and Russia.

The initial round of COVID-19 related mine closures has begun to bolster prices for precious and battery metals due to concern that supply shortages may be close at hand. All of the TSXV’s top five gainers in the mining sector last week fall within those sectors:

  • Power Metals (TSXV:PWM)
  • Aurion Resources (TSXV:AU)
  • Rio2 (TSXV:RIO)
  • Prime Mining (TSXV:PRYM)
  • Lion One Metals (TSXV:LIO)

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

Power Metals

Battery metals explorer Power Metals is currently advancing its Case Lake lithium project in Northeastern Ontario. In addition to lithium, the project also holds tantalum and cesium.

Power Metals has not posted news since mid-February, when it announced a planned cesium exploration program at Case Lake.

However, the lithium space globally has begun to react to economic uncertainty brought on by the coronavirus pandemic, which has sent many countries into lockdown and has crippled supply chains.

Shares of the company climbed 104 percent last week to trade for C$0.23.

Aurion Resources

Presently focused on its two precious metals projects in Finland, Aurion also has joint venture arrangements with Kinross Gold (TSX:K,NYSE:KGC), B2 Gold (TSX:BTO,NYSEAMERICAN:BTG) and Strategic Resources (TSXV:SR). It is exploring the Risti and Launi projects as well.

Aurion’s last piece of company news was released in mid-February and pertained to drill results from an exploration program at Launi.

Shares of the company were up 59 percent last week, selling for C$0.75.


Mine developer Rio2 is focused on quickly bringing its Chilean Fenix gold project into production.

Last week, the precious metals company released a statement in response to the COVID-19 global crisis. In it, Rio2 noted that all of its personnel are working remotely, while management continues to monitor directives from the Chilean government.

Rio2 shares were up 56 percent for the period, trading at C$0.30.

Prime Mining

Precious metals company Prime Mining’s flagship Los Reyes gold-silver project is located in Mexico and is described as a near-term producer. Prime’s most recent announcement was also an operational update regarding the coronavirus.

At this time, Prime is continuing to advance its work at Los Reyes after implementing protocols to reduce the risk of infection. Some of the ongoing work includes engineering and planning for a proposed 15,000 meter drilling and trenching program.

Prime Mining’s share value grew 53 percent last week to come to C$0.41 on the TSXV.

Lion One Metals

Gold explorer Lion One Metals is developing its Tuvatu alkaline gold project located on the island nation of Fiji. According to the company, the project is slated to be a low-cost, high-grade underground gold mine with exploration opportunities through adjacent tenements.

Lion One’s last announcement was released in mid-February and pertained to gold field samplings.

As of Friday (March 27), Lion One shares had increased by 50 percent to trade for C$1.14.

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, Georgia Williams, hold no direct investment interest in any company mentioned in this article.


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