The S&P/TSX Venture Composite Index (INDEXTSI:JX) saw a slight increase last week, rising by 3.73 points to 769.97.
Overall, the index is up 46.48 percent for 2016, a jump of 244.31 points total. Over a one-year period, those gains are not quite so extreme—the TSXV is up 22.45 percent, or 141.16 points.
A number of companies on the TSXV saw strong weekly percentage gains, specifically in the precious metals sector, with some jumping as high as 160 percent.
The top five gainers for the week were:
- Cava Resources (TSXV:CVA)
- Golden Dawn Minerals (TSXV:GOM)
- Giyani Gold Corp (TSXV:WDG)
- K92 Mining (TSXV:KNT)
- Monarques Gold Corp (TSXV:MQR)
Here’s a closer look at those companies:
Topping last week’s TSXV list is Cava Resources, an exploration and development company focused on mineral and gas and oil properties throughout Canada. The company’s most recent news came at the end of June, when it announced the completion of a private placement financing of 13.1 million units at a price of $0.05 each for gross proceeds of $655,000.
Last week, shares of Cava Resources rose 160.87 percent to $0.60. The company did not release any additional news that would have explained its share price increase.
Golden Dawn Minerals
Second on the list is Golden Dawn Minerals, whose shares increased 95.12 percent to $0.40. Currently, the company is consolidating its land position in the Greenwood Mining District by acquiring a number of gold assets.
Last week was a busy one for Golden Dawn Minerals, who made a number of announcements throughout the week. On July 19, the company announced the closing a of a private placement in the amount of $332,000; on July 20, Golden Dawn closed its final tranche of the non-brokered private placement for $93,000; and on July 21, the company announced the signing of a letter of intent for a metal purchase agreement with RIVI Capital.
Giyani Gold Corp
Last week, Giyani’s shares rose 58.33 percent, a $0.07 increase, to $0.19. Year-to-date, the company has seen gains of 111.11 percent overall. Giyani Gold Corp was incorporated in July of 2007 and is focused on the acquisition, exploration, and development of gold properties in South Africa and Canada.
Last week, Giyani Gold announced the closing of a non-brokered private placement of 3,450,000 shares at a price of $0.10 each for total proceeds of $345,000.
Up next is K92 Mining. The company is focused on advancing its Kainantu Gold Mine in Papua New Guinea towards production.
On July 21, K92 Mining announced it had closed its non-brokered private placement of 12.5 million units at $1.00 each for total proceeds of $12.5 million.
For the week, the company’s shares gained 51.97 percent, to finish at $1.93. The company is up 221.67 percent year-to-date.
Monarques Gold Corp
Closing out last week’s TSXV list is Monarques Gold Corp, who is focused on developing gold properties in Quebec. The company currently has approximately 200 square kilometers of gold exploration along the Cadillac Break, including the Croinor Gold mine. On July 20, Monarques announced it had started engineering work for the Croinor Gold power mine with an initial $684,375 from the Ministère de l’Énergie et des Ressources Naturelles.
Over a five-day period, shares of Monarques rose 36.26 percent to $0.62. Its year-to-date increase, however, is much more significant, as the company has made gains of 933.33 percent overall.
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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, Jocelyn Aspa, hold no direct investment interest in any company mentioned in this article.
Top TSXV stocks in recent weeks: