5 Top Weekly TSXV Performers: PetroFrontier Rises Nearly 70 Percent

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the rise last week, opening at 867.11 on Monday (October 4) and closing the five day period at 877.72.

Data from Statistics Canada shows that the country added 157,000 new jobs in September, ahead of the 60,000 expected by economists. The increase puts numbers back to where they were before the COVID-19 pandemic began, although many people are still working fewer hours than they would normally.

Canada’s jobless rate now stands at 6.9 percent, the lowest level since the coronavirus started to spread.

Last week’s five TSXV-listed mining stocks that saw the biggest gains are as follows:

• PetroFrontier (TSXV:PFC)
• Sintana Energy (TSXV:SEI)
• Vital Energy (TSXV:VUX)
• Satori Resources (TSXV:BUD)
• HighGold Mining (TSXV:HIGH)

Here’s a look at those companies and the factors that moved their share prices last week.

1. PetroFrontier

PetroFrontier describes itself as a junior energy company that is focused on developing two Mannville heavy oil plays in Alberta’s Cold Lake and Wabasca areas.

Last Friday (October 8), the company entered into a letter of intent with an arm’s-length third party; according to PetroFrontier, the agreement will allow for the continued development its joint ventures in the Cold Lake and Wabasca areas. Its share price rose 69.23 percent on the news to finish at C$0.11.

2. Sintana Energy

Oil and gas exploration company Sintana Energy has a portfolio of assets in Colombia’s Magdalena Basin. It did not release any fresh news last week, but its share price jumped 68.42 percent to hit C$0.16.

3. Vital Energy

Western Canada-focused Vital Energy is an oil and gas junior whose efforts are centered on conventional crude oil exploration, development and production.

Last Tuesday (October 5), the company announced that so far during Q3, three horizontal wells have been successfully drilled and completed in Lampman, Saskatchewan, on a multi-well pad. The completed formation is in the Frobisher zone, and total average daily oil production has stabilized at approximately 630 barrels per day. Vital’s share price increased 62.5 percent last week to close at C$0.13.

4. Satori Resources

Gold-focused explorer Satori Resources’ main property is the past-producing Tartan Lake gold mine project in Manitoba’s Flin Flon greenstone belt. It also holds the Ontario-based New Delhi gold project.

Last Thursday (October 7), the company shared results from the first hole completed as part of a second phase drill program that is targeting the South zone at Tartan Lake. Hole TLSZ21-05 is the longest high-grade intercept returned to date from the South zone, with an average of 9.59 grams per tonne gold over 11.75 meters. Satori’s share price soared 57.89 percent last week to finish the period at C$0.15.

5. HighGold Mining

HighGold Mining is focused on properties in Alaska, as well as Ontario’s Timmins gold camp. Its flagship asset is the Johnson Tract gold-zinc–copper project in Alaska, while its Ontario projects include the Munro-Croesus gold property and the Golden Mile and Golden Perimeter properties.

On Wednesday (October 6) of last week, HighGold revealed “exceptionally high-grade” drill results from the Difficult Creek prospect, one of several prospects the company is exploring at Johnson Tract; results include 578 grams per tonne gold and 2,203 grams per tonne silver over 6.4 meters. The company’s share price rose 55.14 percent to finish last week at C$1.66.

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$50 million prior to the week’s gains are included. Companies within the non-energy minerals and energy minerals are considered.

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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: Satori Resources is a client of the Investing News Network. This article is not paid-for content.