Canada Rare Earth topped this week’s list of gainers on the TSXV, above a slew of gold explorers, developers and miners.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was down on Friday (September 7), falling 0.15 points to 709.41, or 0.02 percent.
Over the course of the week, gold inched upwards in light of a weaker US dollar, lending an explanation to why gold juniors dominate the list below.
In Toronto, the TSX was down after a fall in job numbers in Canada over August. Here, the Investing News Network has taken a look at how junior miners are faring on the venture exchange. Below are last week’s top five gainers:
- Canada Rare Earth (TSXV:LL)
- Nevada Exploration (TSXV:NGE)
- Barsele Minerals (TSXV:BME)
- Bonterra Resources (TSXV:BTR)
- Glen Eagle Resources (TSXV:GER)
Scroll down for information on what each company has been talking about.
Canada Rare Earth
Canadian company Canada Rare Earth describes itself as “developing a vertically and horizontally integrated business within the global rare earth industry” by connecting mining operations to concentration processes and finally to customers.
It says its strategy “has evolved from an initial focus on rare earth exploration to a focus on developing a vertically integrated supply chain”.
It posted no news this week besides a corporate update at the end of August outlining strategic achievements since the beginning of the third quarter.
Canada Rare Earth saw its share price increase by 44.44 percent over the week to C$0.065.
Gold-focused Nevada Exploration has a portfolio of district-scale projects along Nevada’s Cortez trend, where it hopes to tap into the US state’s prolific gold production numbers.
This week it closed an oversubscribed C$2 million private placement, with the proceeds going towards advancing the company’s exploration projects and for general working capital.
NGE President, James Buskard, said that 2018 was proving to be very positive, and the the proceeds would help maintain the work so far.
On the TSXV, Nevada Exploration’s shares increased by 28.26 percent to C$0.295 over the five-day period.
Canadian junior explorer Barsele Minerals has its hope pegged to its eponymous project, the Barsele gold project in Sweden, which it describes as “an impressive gold, silver and copper exploration project on renowned mineral trends.”
Its most recent news was promising drill hole results from the Skiråsen zone at Barsele, with the company reporting 27 m of drilling, grading 4.12 grams per tonne of gold.
That was in August though, and the company has not released any more recent news.
In Toronto, Barsele rose by 26.42 percent over the week to C$0.67 – perhaps off the back of slowly increasing gold values over the week. Unfortunately, gold dipped on Friday.
Gold explorer Bonterra Resources has two major holdings; the Gladiator gold project in Quebec and the Larder Lake project in Ontario. Its primary goal is to define a multi-million ounce, high grade gold resource at its 100-percent controlled Gladiator gold deposit in the Abitibi gold belt in Quebec.
The most recent news from Bonterra was a definitive arrangement agreement to combine Bonterra and Metanor (TSXV:MTO) to create a “new advanced Canadian gold exploration and development company.”
Given the date set for company voting was September 18, the rise in Bonterra’s share price this week by 21.67 percent will no doubt be in anticipation of that event next week.
Bonterra was valued at C$0.365 by Friday.
Glen Eagle Resources
Canadian gold miner Glen Eagle Resources has two properties; a gold processing plant in Honduras and a development-stage property in Canada.
Its most recent news would have been digested over the past week. Released at the end of August, the company announced gold sales of C$818,497 for Q2 2018 compared to C$285,610 the same time last year.
It’s now in the red, posting a net comprehensive income of C$137,732 for the quarter, compared to a loss of C$624,768 last year.
Over the week, Glen Eagle Resources’ share price increased by 21.43 percent to C$0.17.
Data for 5 Top TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using tradingview.com. Only companies with a market capitalization greater than $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.
Editorial Disclosure: Bonterra Resources is a client of the Investing News Network. This article is not paid-for content.