Oil and Gas Investing

The top gainers on the TSXV last week were Orca Exploration, Antioquia Gold, Majestic Gold, Mangazeya Mining and MacDonald Mines Exploration.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) started the last day of last week in as much of a bloodbath as the rest of the world’s markets, falling by 35.7 points, or 6.86 percent, by 10:30 am EST on Friday (February 28), cratering to 484.89 points.

The drop on Friday was a continuation of the decline that started at the end of the previous week, when the Venture Exchange had been trading at a relatively lofty 581.77 points. At the time of writing, the exchange was still shedding value.

The TSXV’s decline was a story that’s being told the world over as the COVID-19 coronavirus scare spreads, with almost US$5 trillion (and counting) being wiped from global stock markets.

Companies on the TSXV were likewise hit pretty hard. 

Nevertheless, here are the top five best-performing companies, which all managed to buck the trend on the exchange, in the resources and energy sectors:

Read on to find out more about what each company has been up to lately.

Orca Exploration

Orca Exploration is a natural gas project developer with a focus on its assets in Tanzania, where it operates a license offshore containing the Songo Songo gas field and a gas-processing facility. Tanzania made the news recently when it was revealed to be the world’s least attractive jurisdiction for investment according to the Fraser Institute’s 2019 annual survey of mining companies — sentiments that Orca may not share given its position on this list this week.

The company’s most recent news was from Tuesday (February 25), when it announced its quarterly dividend, which according to its release, was C$0.06 per class A common share of the company.

On the TSXV, while (most of) the rest of the exchange was heading down, Orca Exploration posted a weekly gain of 178.99 percent, ultimately rising to C$19.25 by Friday.

Antioquia Gold

A gold explorer and developer, Antioquia Gold enjoys production at its flagship Cisneros project in the Colombian Department that gives it its name. The Cisneros project, which is wholly-owned by Antioquia Gold, is comprised of 10 concessions totaling 5,630 hectares, and the area is known for extensive historical mining.

The company’s most recent news was from a while back on February 4, when it updated markets on its operations at Cisneros and announced its intention to advance work on its recently acquired La Palma property, which is adjacent to Cisneros. According to the company, Cisneros produced 1,155 ounces of gold in January 2020, compared to a total 2019 production of 12,192 ounces.

Antioquia was trading at C$0.035 on the TSXV by last Friday after gaining 75 percent over the previous five days of trading.

Majestic Gold

Majestic Gold is a China-focused company that has been producing gold from its Songjiagou gold mine in Shandong province since 2011.

Despite the focus on China, Majestic’s most recent release related to the filing of a technical report on its Fair Adelaide East project located in Western Australia. The announcement detailed the submission of a NI 43-101 technical report for the gold project, which is located near Kalgoorlie, and for which Majestic has an agreement with a private Australian company to acquire up to 51 percent of pending future exploration of the tenements in question.

Majestic was trading at C$0.55 on the TSXV last Friday, up by 22.22 percent on the previous week.

Mangazeya Mining

Mangazeya Mining has three non-ferrous and precious metals deposits in the Zabaykalsky Krai of the Russian Far East.

The company has yet to release further updates since its February 4 release detailing its production results in 2019. According to the company, it produced 44,390 ounces of gold last year.

Still, the company has seen further rises in its value and is now at C$0.11 on the TSXV.

MacDonald Mines Exploration

MacDonald Mines Exploration is a mineral exploration company focused on gold exploration in Canada. The company retains 100 percent ownership of the 17,720-hectare SPJ project near the mining-friendly jurisdiction of Sudbury, Ontario. 

The company’s most recent news was on Thursday (February 27), when the company reported it had drilled promising gold grades at the North Pit area of the Scadding deposit, including one hole grading 59.2 grams per metric ton gold over 19.07 meters.

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, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: MacDonald Mines Exploration is a client of the Investing News Network. This article is not paid-for content.


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