On the TSXV last week, the top gainers were Perisson Petroleum, Osino Resources, CGX Energy, GMV Minerals and Quaterra Resources.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) rose by 3.69 points last Friday (August 30) to reach 584.84 — an increase of 0.63 percent.
Speaking of commodities, here are the top five gainers on the TSXV from last week:
- Perisson Petroleum (TSX:POG)
- Osino Resources (TSXV:OSI)
- CGX Energy (TSXV:OYL)
- GMV Minerals (TSXV:GMV)
- Quaterra Resources (TSXV:QTA)
Read on to find out more about these companies and what they have been up to.
Perisson Petroleum is an oil-focused company with four assets in the oil fields of Alberta: Wayne, Provost, Twining-Rundle and Huxley. It also has exploration assets in Colombia’s Magdalena basin. The company says it is operating on a long-term basis with goals well beyond the next cycle.
Last Thursday (August 29), Perisson released a Q2 and H1 report on SEDAR detailing almost C$600,00 in oil and gas revenue from its producing assets. It also talked about its exploration work in Colombia.
On the TSXV last week, Perisson was trading at C$0.14, up by 86.67 percent over the previous period.
Osino Resources is focused on acquiring and developing gold projects in Namibia, where it has 15 exclusive prospecting licenses grouped together in three projects: Karibib, Goldkuppe and Otjikoto East.
On Monday (August 26), Osino announced a new gold discovery at Twin Hills Central at its Karibib project, with one of the best intercepts returning 104 meters of 0.7 grams per tonne gold.
On the TSXV, investors reacted positively to the news, with Osino’s share price increasing by 78.95 percent to C$0.85 by last Friday.
Oil and gas explorer CGX Energy has assets in the Guyana-Suriname basin of South America, where it holds three licenses, two offshore and one onshore.
The company says the basin is a good place to be working, claiming it is 15th in the world for undiscovered oil and gas potential, with 117 fields that have over a million barrels of recoverable oil, 24 fields with over 100 million barrels and six fields with over 500 million barrels.
The most recent news from the company was a release on Wednesday (August 28) saying that it is not aware of any material undisclosed information that might explain its 70 percent share price increase over last week, to C$0.75.
GMV Minerals is another junior gold developer, though it is focused on the US, where is has a 100 percent interest in the Mexican Hat project, located in Southern Arizona.
The company’s last release was on August 12, when it announced the discovery of a new gold target 900 meters south of the Mexican Hat deposit.
Given all the interest around gold lately, it’s unsurprising that a new discovery would yield results on the stock market: GMV was up by 56.67 percent last week, reaching C$0.24 — well up on the company’s share price in mid-August.
Quaterra Resources is focused on exploring and developing its copper assets in Yerington, Nevada, though on Monday, the company commenced a copper-gold exploration program at its Groundhog prospect in Alaska.
Quaterra has an option agreement with Chuchana for 90 percent of the Groundhog prospect, under which it needs to spend US$5 million over six years in exploration and pay a lump sum of US$3 million at the end of the sixth year.
On the TSXV last week, Quaterra was trading at C$0.085, up by 54.55 percent on the previous week.
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$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.