5 Top Weekly TSXV Stocks: Magnesium Leads a Varied Pack
Top gainers on the TSXV were West High Yield Resources, AsiaBaseMetals, Reunion Gold, Cantex Mine Development and Chakana Copper.
At the end of last week on Friday (December 13), the S&P/TSX Venture Composite Index (INDEXTSI:JX) was up by 0.42 percent or 2.24 points to 538.76. At the same time the previous week, it had been at 537.08.
Talk around the world was dominated earlier on by news that US President Donald Trump had approved of a deal with China to pause the trade war — though interest in that news went away after it was announced that UK Prime Minister Boris Johnson had not only won the UK election, but secured a thumping majority, hammering home the fact that the UK will be leaving the European Union in 2020.
Here, the Investing News Network (INN) has compiled the top ten gainers on the TSXV from last week that operate in the resources sector, with showings by base, precious and critical minerals-focused companies.
- West High Yield Resources (TSXV:WHY)
- AsiaBaseMetals (TSXV:ABZ)
- Reunion Gold (TSXV:RGD)
- Cantex Mine Development (TSXV:CD)
- Chakana Copper (TSXV:PERU)
Read on to find out about what each company has been up to lately.
West High Yield Resources
Canadian explorer West High Yield Resources is focused on developing assets in Canada, with its primary objective being to develop its intermediate-advanced stage exploration Record Ridge South magnesium property in British Columbia.
The company’s most recent news came in late November, when it announced a rash of management changes including a new director on the board, Barry Baim, who has been a senior leader with the brewing company Molson Coors (NYSE:TAP).
Despite no news in December, West High Yield Resources was trading at C$0.195 last Friday after increasing by 95 percent over the previous week.
Asia Base Metals is a mining company that dabbles in cannabis as well. It has a 100-percent interest in the Gnome zinc project in British Columbia, and the Jean iron ore project in Ontario. It also has interests in Myanmar (hence the company name).
On the TSXV, AsiaBaseMetals was trading at C$0.58 by last Friday — up by 70.59 percent.
Reunion Gold is focused on exploring gold deposits on the Guinea Shield in Northern South America, with projects in Guyana and French Guiana.
News was thick on the ground through November, with an update on gold exploration in Guyana, drill results across two projects in French Guiana, a new manager of corporate development, a C$10 million private placement and changes to its fiscal year-end. But, nothing in December.
Regardless, Reunion Gold was up by 57.14 percent through last week, reaching C$0.165 by Friday.
Cantex Mine Development
Cantex Mine Development has properties in Canada, the US and Yemen. Its primary project is 100 kilometers northeast of Mayo, Yukon, where Cantex has 1,075 claims covering over 20,000 hectares.
Cantex Mine Development was trading at C$1.4 by the end of last week after gaining 47.37 percent over the previous week.
As its name suggests, Chakana Copper is advancing a copper project, namely the Soledad project in Peru.
The project was the subject of its most recent release — which again, was way back in November. The company reported channel sampling at the Huancarama complex with gold and silver returns within the Soldead project. According to the release, the samples returned 21m of 2.52 grams per tonne (g/t) of gold, and 100.4 g/t of silver.
Chakana Copper was trading at C$0.22 by last Friday, up by 37.5 percent.
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: West High Yield is a client of the Investing News Network. This article is not paid-for content.