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5 Top Weekly TSXV Stocks: Euro Manganese Climbs on PEA Results
Besides Euro Manganese, top gainers on the TSXV last week were Xiana Mining, California Gold, Ximen Mining and Sandfire Resources America.
This past Friday (February 1), the S&P/TSX Venture Composite Index (INDEXTSI:JX) was somewhat flat, falling by 1.36 points, or 0.22 percent, to 621.36.
The Investing News Network had a look at what the best-performing junior miners were up to on the TSXV. Read on to find out how each company has fared during the five-day period.
The top five gainers are:
- Xiana Mining (TSXV:XIA)
- Euro Manganese (TSXV:EMN)
- California Gold Mining (TSXV:CGM)
- Ximen Mining (TSXV:XIM)
- Sandfire Resources America (TSXV:SFR)
Much of the company’s recent news has been about corporate updates, but earlier in 2018 the company announced it was entering into a long-term mining assignment of an advanced exploration property in Peru.
Last week on the TSXV, the company enjoyed a 35.71 percent jump in value to C$0.57.
Canadian company Euro Manganese is unsurprisingly focused on the battery metal, with its interests in developing a manganese production based on recycling tailings from a facility in Czechia.
Its flagship is the Chvaletice project, which it hopes to develop into a high-purity provider of manganese products. It acquired the holder of exploration rights around Chvaletice in 2016.
Last week, the company announced preliminary economic assessment results for Chvaletice with an after-tax net present value of US$593 million.
With that news, on the Toronto Venture Exchange Euro Manganese was up by 32 percent, trading at C$0.33 by Friday.
California Gold Mining
Gold explorer California Gold Mining has two projects on the go — though only one is in California.
The Fremont project is located in San Francisco while the Dingman project is all the way over on the other side of North America in Ontario.
The company’s most recent news was back in October, when it announced high-grade assays from Fremont.
Despite the stale news, the company’s shares were up by 27.66 percent in Toronto, reaching C$0.3.
BC-focused company Ximen mining is the owner of three precious metals projects in BC — Gold Drop and Brett, which are gold-focused, and Treasure Mountain, which is a silver project.
Two of its projects are under option agreements, and just this week Ximen announced its option partner — New Destiny Mining — has received assay results from Treasure Mountain with precious and base metal mineralization.
Good news for Ximen then, as on the TSXV it was up by 26.98 percent to C$0.8
Sandfire Resources America
Sandfire’s flagship project is the Black Butte copper project in Montana, which the company is currently walking through the permitting process.
Sandfire’s most recent news was an update on that process, with the company saying the process was ongoing despite a “slight delay” due to it being “the first new copper mine in Montana required to meet a new statewide numeric standard for nitrogen during the growing season.”
The company said it has extended the working period for the draft for its Environmental Impact Statement to winter 2019.
On the TSXV, Sandfire was up by 26.67 percent to C$0.0.95.
Data for 5 Top Weekly TSX Stocks articles is retrieved each Friday at 10:30 a.m. PST using TradingView. 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.