5 Top Weekly TSXV Stocks: Petroteq Energy Rises Over 200 Percent

- May 30th, 2021

Last week’s top-gaining mining stocks on the TSXV were Petroteq Energy, Sego Resources, King Global Ventures, Diamcor Mining and Allegiant Gold.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) trended upward during last week’s shortened trading period, starting off at 962.38 and ending at 965.7. 

In the commodities sector, gold made it past US$1,900 per ounce for the first time since January, while its sister metal silver reached a three month high.

The base metals trended broadly higher, with copper staying at elevated levels.

 

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Against that backdrop, the TSXV-listed mining stocks below saw the biggest share price moves last week:

  • Petroteq Energy (TSXV:PQE)
  • Sego Resources (TSXV:SGZ)
  • King Global Ventures (TSXV:KING)
  • Diamcor Mining (TSXV:DMI)
  • Allegiant Gold (TSXV:AUAU)

Here’s a look at what may have moved their share prices over the last four days.

1. Petroteq Energy

Petroteq Energy is working to develop and implement its proprietary, environmentally friendly heavy oil processing and extraction technologies. The company is also developing its oil sands resources and expanding production capacity at its Utah facility.

There were two pieces of news last week from Petroteq. On Monday (May 24), the firm commented on an offer to purchase company shares that appeared in a German publication, saying that it didn’t have prior knowledge of the offering, nor can it discuss its legitimacy or legal ‎compliance.

Then, on Thursday (May 27), Petroteq announced that it has restarted processing operations at its oil sands plant at Asphalt Ridge. The company’s share price jumped 220 percent last week to end at C$0.16.

2. Sego Resources

Explorer Sego Resources is focused on its BC-based Miner Mountain copper-gold porphyry project.

Last Thursday, the company provided results from two diamond drill holes completed at the Southern gold zone at Miner Mountain. “The Southern Gold Zone is most likely a distal expression of a blind porphyry copper-gold mineralization within a broader area of porphyry copper-gold system at the Miner Mountain Project,” said CEO J. Paul Stevenson.

The company’s share price increased 155.56 percent last week to finish at C$0.12.

3. King Global Ventures

Exploration and prospecting company King Global Ventures has properties in Nicaragua and Canada.

 

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Last Tuesday (May 25), the company started a spring exploration program at its Gold Nugget, Miss Pickle and Gold Boulder properties in Newfoundland. It will include surface fieldwork to build on previous historical exploration. Later in the week, on Friday (May 28), King Global received a $1 million financing commitment from Canadian billionaire Eric Sprott.

Its share price leaped 63.64 percent last week to close at C$0.09.

4. Diamcor Mining

Diamcor Mining has a strategic alliance with Tiffany & Co., and is now in the final stages of developing its South Africa-based Krone-Endora at Venetia diamond project, which it acquired from De Beers in 2011.

Last Thursday, the company announced it is proceeding with the expansion of processing facilities at Krone-Endora at Venetia after delays last year related to COVID-19. The expansion will take place in two phases. Diamcor’s share price saw a rise of 54.55 percent last week, wrapping up the period at C$0.17.

5. Allegiant Gold

Allegiant Gold has 10 projects in the Southwest US that it says are highly prospective and ready to drill. Seven of them are located in Nevada, and its flagship Eastside asset is located in that state.

Last Wednesday (May 26), Allegiant discovered bonanza gold and silver grades at Eastside, saying that the results are the best to date at the Original Pit zone. According to the company, highlights include 2.55 grams per tonne gold over 147.8 meters (3.17 grams per tonne gold over 117.3 meters) in hole 243. The news sent Allegiant’s share price up 52.83 percent to close at C$0.41.

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 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.

 

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