5 Top Weekly TSXV Stocks: Tethys Petroleum Reaches for the Sky

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell by 5.25 points on the last day of last week (September 27), down to 569.58 — a fall of 0.91 percent.

News from around the world was consumed by American politics (with a touch of Ukrainian politics for some flavor), though elsewhere tempers continue to run hot in the Middle East over Saudi Arabia and Iran’s brinkmanship, holding oil prices higher.

Speaking of commodities, gold is staying above US$1,500 an ounce as of 1 p.m. EST September 27, while copper and base metals continue to wallow in the doldrums.

Here are the top performers on the TSXV from last week hailing from the basic materials and energy sectors:

• Tethys Petroleum (TSXV:TPL.H)
• Unigold (TSXV:UGD)
• Pacific Booker Minerals (TSXV:BKM)
• MacDonald Mines Exploration (TSXV:BMK)
• Mkango Resources (TSXV:MKA)

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

Tethys Petroleum

As the name suggests, Tethys Petroleum is an oil- and gas-focused explorer and producer, with interests in the former Soviet nations of Kazakhstan and Georgia. In Kazakhstan it has four contracts with existing production and exploration upside, while in Georgia it has an 18 percent interest in a local oil and gas operator.

On September 19, Tethys announced that a previously announced possible gas production interruption was not likely to happen. According to Tethys, one of its purchasers had warned it needed to cease buying Tethys’ gas, but that never eventuated after Tethy’s gave them legal advice that they did not need to stop buying Tethys’ gas.

In Toronto, Tethys was trading at C$0.45 at the end of last week, an increase of 185.71 percent over the week prior.

Unigold

Canadian junior Unigold is focused on gold exploration in the Dominican Republic, where it says it has been active for a decade.

The company has released three updates in September; two on September 19 when it announced the closing of a private placement, and then an exploration update hot on its heels. More recently on September 26 it announced management changes.

On the TSXV on September 27, Unigold was trading at C$0.24 — up by 41.18 percent.

Pacific Booker Minerals

Pacific Booker owns the Morrison copper-gold property in Central British Columbia, which it says is in the advanced stages of development. According to the company, the project will be able to yield 1.37 million pounds of copper over 21 years.

The company’s most recent news was on September 5, when it announced it has submitted a new report for its Morrison project, which would be published on the British Columbian government’s EPIC website in the near future.

Pacific Booker was trading at C$3.25 on September 27, up 40.69 percent on the previous week.

Macdonald Mines Exploration

Macdonald Mines Exploration is focused on precious metals exploration in Ontario, where it has a 100 percent interest in the SPJ property.

Last week the company announced it had hit high-grade gold at the inaugural drilling of its Scadding deposit at SPJ.

With that news, Macdonald was trading up by 33.33 percent last Friday, at C$0.14.

Mkango Resources

Mkango holds 100 percent interests in two prospecting licenses in Malawi, where the Canadian company is exploring for rare earth elements.

The company had big news of September 23, when it announced a proposed investment in HyProMag Limited, a UK-based private company focused on rare earth magnet recycling.

Mkango was trading at C$0.115 as of last Friday, up 27.78 percent for the 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.