Last week’s top-gaining mining stocks on the TSXV were Adex Mining, Fjordland Exploration, BMEX Gold, P2 Gold and NEO Battery Materials.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) took a fall last week, dropping from 921.48 on Monday (August 16) to close the five day period at 864.71.
The yellow metal has not repeated last summer’s all-time high, and some experts believe it needs to see more decisive action from the US Federal Reserve before making a move.
Last week’s five TSX-listed mining stocks that saw the biggest gains are as follows:
- Adex Mining (TSXV:ADE)
- Fjordland Exploration (TSXV:FEX)
- BMEX Gold (TSXV:BMEX)
- P2 Gold (TSXV:PGLD)
- NEO Battery Materials (TSXV:NBM)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Adex Mining
Adex filed several documents on SEDAR last Friday (August 20), including its latest management’s discussion and analysis statement. Its share price rose 50 percent last week to end at C$0.02.
2. Fjordland Exploration
Fjordland Exploration is looking to discover large-scale economic metal deposits located in Canada.
The company has an option to wholly acquire the Renzy nickel–copper project in Quebec, and is exploring the South Voisey’s Bay target in Labrador with Ivanhoe Electric and Commander Resources (TSXV:CMD). Aside from that, it is reviewing its West Milligan copper-gold project in BC, which is a joint venture with Northwest Copper (TSXV:NWST,OTCQX:NWCCF). There was no fresh news from Fjordland last week, but its share price increased 35 percent during the period to close at C$0.14.
3. BMEX Gold
BMEX Gold is working on earning 100 percent interests in two historical high-grade assets in Quebec, and states that its team has experience exploring and developing large scale-resource projects. The company’s King Tut and Dunlop Bay assets are both located in the Abitibi greenstone belt.
The latest news from BMEX came at the start of August, when it announced the details of its H2 exploration plans for its King Tut and Dunlop Bay properties. Despite the lack of recent news, the company’s share price rose 30.77 percent last week to end at C$0.17.
4. P2 Gold
Exploration and development company P2 Gold is advancing precious metals discoveries and acquisitions in the Western US as well as Canada. It has assets in Nevada, Oregon and BC.
P2 Gold has been drilling at Gabbs and BAM in July and August, and last week filed a number of documents on SEDAR, including its latest management’s discussion and analysis statement. Its share price increased 29.27 percent during the period to close at C$0.53.
5. NEO Battery Materials
With a focus on battery metals exploration in North America, NEO Battery Materials has staked new mining claims in BC that are along strike with a quartzite bed. The company intends to become a silicon anode materials supplier to the electric vehicle industry.
Last Friday, NEO Battery announced the production of its first prototype of silicon anode active materials, and said that samples have been sent to non-disclosure agreement partners for full cell evaluation and electrochemical characterization. The company’s share price jumped 27.87 percent to finish at C$0.78.
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$50 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: Commander Resources is a client of the Investing News Network. This article is not paid-for content.