5 Top Weekly TSXV Stocks: Meridian Bags More Manganese

- July 28th, 2019

The top gainers on the TSXV last week were Mineral Mountain, Meridian Mining, American Manganese, Highland Copper and American Creek.

At the end of last week, the S&P/TSX Venture Composite Index (INDEXTSI:JX) rose by a modest 2.27 points, or 0.38 percent, to reach 594 points.

In general news around the world, shipping in the Strait of Hormuz is becoming a little tense, with the Royal Navy set to start escorting UK-flagged ships following the seizure of a British tanker last week. Meanwhile, in the US, the House of Representatives passed its budget, meaning there is no concern about a government shutdown (for now).

On the commodity front, gold was still well up last week, but base metals took a bit of a break after nickel blazed ever-higher trails.

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Here’s a look at the top five gainers on the TSXV last week, with manganese miners standing out:

Read on to find out what each company has been up recently.

Mineral Mountain Resources

Canadian explorer Mineral Mountain Resources is focused on gold projects through South Dakota in the US, where its key interest is in the Homestake gold belt.

The company’s most recent news details a summer drill program that will see over 4,000 meters completed at its Standby project, where a previous program yielded promising results.

On the TSXV last week, Mineral Mountain was up by 70 percent by Friday (July 26), reaching C$0.17.

Meridian Mining

Meridian Mining produces manganese at its Espigão project in Rondonia, Brazil, where it’s doing additional exploration and development work. The company also has interests in the nearby Ariquemes tin joint venture, which is part of its dual strategy for a multi-commodity regional exploration program.

The company had big news last week, announcing on Wednesday (July 24) that it has acquired the rights to a new manganese asset in Rondônia called the Mirante da Serra project. The company will acquire the project for US$300,000.

In Toronto, the company was up by 66.67 percent over last week, rising to C$0.20 by Friday.

American Manganese

American Manganese is a critical metals company focused on recycling lithium-ion batteries for cathode metals such as cobalt, lithium, nickel, manganese and aluminum using its RecycLiCo hydrometallurgical process. The process has achieved very high recoveries of battery metals for reuse in new batteries.

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Last week, the company announced it has had success in optimizing its pilot plant results, reaching purities of 99.93 percent.

The company was trading at C$0.255 as of last Friday — a gain of 54.55 percent over the previous week.

Highland Copper

Highland Copper is focused on developing copper assets in the Upper Peninsula of Michigan. The company says that the copper range district in that region is well known for hosting significant concentrations of copper and silver in numerous deposits. “During its productive period, from 1845 to 1995, the area produced in excess of 15 billion pounds of copper,” states the company.

The company’s most recent news was back in late May, when it closed on a US$4.5 million credit facility with Greenstone Resources II and Osisko Gold Royalties.

Highland Copper was up by 50 percent last week, trading at C$0.045 by the end of the period.

American Creek Resources

Precious metals explorer American Creek Resources has assets throughout British Columbia, including four in the prolific Golden Triangle in the north of the province.

News from American Creek was hot off the press on Friday, when it announced C$300,000 in financing to advance its assets within the Golden Triangle.

With that, American Creek was up by 37.5 percent at the end of last week at C$0.055.

Data for 5 Top Weekly TSX 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.

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

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

Editorial Disclosure: American Manganese is a client of the Investing News Network. This article is not paid-for content.

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