Other top gainers were Reservoir Capital, Sandspring Resources, Atacama Pacific Gold and Largo Resources.
The S&P/TSX Venture Composite index (INDEXTSI:JX) closed up 3.67 points on Friday, ending at 508.15 points.
The exchange’s top gainer last week was Energold Drilling (TSXV:EGD), and it was followed by Reservoir Capital (TSXV:REO), Sandspring Resources (TSXV:SSP), Atacama Pacific Gold (TSXV:ATM) and Largo Resources (TSXV:LGO). Here’s a look at what moved the share prices of those companies last week.
Last week, Energold Drilling’s share price rose an impressive 62.96 percent to reach $0.88. The specialty drilling company services the mining and energy sectors in the Americas, Africa and Asia, and operates 230 rigs in 22 countries across the world. Energold didn’t release any news last week that would explain the rise in its share price.
Reservoir Capital is focused on renewable energy operations in Southeast Europe, and last week saw its share price rise 50 percent to end at $0.41. Like Energold, last week it did not release any news that would explain the uptick in its share price.
Sandspring Resources is a junior gold company that’s looking to bring its Guyana-based Toroparu gold project into production. On February 3, Sandspring released “encouraging” results from a fall 2015 exploration program at Toroparu, including 23.41 g/t gold over 5.9 meters. The news sent the company’s share price up 48 percent, to $0.19.
Atacama Pacific Gold
Focused on Chile, Atacama Pacific Gold is looking to develop its Cerro Maricunga oxide gold deposit in the country. It’s one of the largest oxide gold deposits in the world, and Atacama has published a prefeasibility study for it. Last week, the company’s share price rose 42.89 percent to reach $0.20; however, it hasn’t put out any news since last July.
Finally, Largo Resources’ share price rose 39.29 percent last week to close at $0.20. The company is focused on vanadium production at its Maracas Menchen mine in Brazil, and though it didn’t release any news last week, it did close the first tranche of a private placement on January 29. It also signed a binding term sheet for a new debt facility at that time.
Data for 5 Top TSXV Stocks articles is retrieved each Friday after market close using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than $10 million prior to the week’s gains are included. Companies within the mining and precious metals sectors are considered.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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