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Last week’s top-gaining stocks on the TSXV were Reconnaissance Energy, Namibia Critical Metals, Graphite One, Roscan Gold and Mkango Resources.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) closed the week down at 539.74 points, declining 1.13 percent.
Last week saw the US Federal Reserve cut interest rates for the third time this year, with gold and silver prices reacting to the news.
Meanwhile, base metals were a mixed bag, with copper falling and nickel increasing after Indonesia’s export ban took full effect.
That said, a number of stocks in the mining sector saw a share price increase, including:
- Reconnaissance Energy (TSXV:RECO)
- Namibia Critical Metals (TSXV:NMI)
- Graphite One (TSXV:GPH)
- Roscan Gold (TSXV:ROS)
- Mkango Resources (TSXV:MKA)
Without further ado, here’s a look at the 5 top weekly TSXV stocks.
Reconnaissance Energy
Reconnaissance Energy is a junior oil and gas company engaged in the exploration and development of oil and gas in Namibia. ReconAfrica holds a 90 percent interest in a petroleum exploration license in northeast Namibia which covers the entire Kavango sedimentary basin.
The most recent company news came on October 31, when the junior explorer announced a C$1.5 million private placement. Shares of the company increased 112 percent last week to reach C$0.53.
Namibia Critical Metals
Namibia Critical Metals holds a diversified portfolio of critical metals projects all within the country of Namibia. The company is focused on the development of several projects in the country, including the Lofdal heavy rare earths and the Kunene cobalt-copper projects.
Shares of the company increased 103.7 percent last week to reach C$0.27, with the jump prompting Namibia Critical Metals to release a statement confirming it was unaware of any material change that could lead to a surge in its stock price.
Graphite One
Vancouver-based Graphite One continues to develop its Graphite One project with the aim to potentially become an American producer of high grade coated spherical graphite that is integrated with a domestic graphite resource.
On October 23, the company announced that material from its Graphite Creek asset was being tested by a major US multinational electric vehicle maker. Shares of Graphite One jumped 100 percent last week to reach C$0.38.
Roscan Gold
West-Africa-focused Roscan Gold is a gold exploration company with interests in the Kandiole project in Mali.
The company did not release any news last week, but over the five day period, shares of Roskan Gold saw a spike of 52.38 percent to close the five day period at C$0.16.
Mkango Resources
Mkango Resources is an exploration and development company focused on rare earth elements in the Republic of Malawi. It holds, through its 51 percent owned subsidiary Lancaster Exploration, a 51 percent interest in the Songwe rare earth project. The company owns 100 percent of the Thambani, Chimimbe and Mchinji exclusive prospecting licenses.
The company had no news last week, but shares of Mkango Resources saw a spike of 42.86 percent to close the five day period at C$0.15.
Data for 5 Top Weekly TSXV 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.
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Securities Disclosure: I, Priscila Barrera, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: This article is not paid-for content.