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Orca Exploration, Rathdowney Resources, Tethys Petroleum, VanadiumCorp Resource and Diamond Fields Resources performed best last week.
At the end of last week, the S&P/TSX Venture Composite Index (INDEXTSI:JX) crashed back through previous recent lows, falling below 400 points to hit 389.51.
The TSXV wasn’t alone, with US stocks posting falls as dramatic as the 1987 crash through the week.
As if readers didn’t know, global news was all about the novel coronavirus outbreak — as of Friday (March 13), confirmed infections were rising faster than at the height of the outbreak in China.
The dramatic escalation of panic in regards to the outbreak has seen travel restricted globally, with mass gatherings banned from Australia to Europe and the World Health Organization declaring the situation a global pandemic midway through the week.
As expected, pickings on the TSXV were slim last week with a minimal number of companies posting gains. Over on the TSX, there were only two companies in the black.
Here are the top five gainers on the TSXV from last Friday:
- Orca Exploration (TSXV:ORC.A)
- Rathdowney Resources (TSXV:RTH)
- Tethys Petroleum (TSXV:TPL.H)
- VanadiumCorp Resource (TSXV:VRB)
- Diamond Fields Resources (TSXV:DFR)
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 gas-processing facility and a license offshore containing the Songo Songo gas field. The company also has interests in Italy.
On Thursday (March 12), the company announced the completion of a substantial issuer bid and reported that after giving effect to the offer, it has 24,864,960 Class B shares issued and outstanding and 1,750,495 Class A common shares issued and outstanding.
On the TSXV, Orca was trading at C$27.06 by the end of last week after gaining 170.6 percent over the previous five days of trading.
Rathdowney Resources
Rathdowney Resources is a Canadian company whose primary focus is developing and permitting its flagship, the 100 percent owned Olza zinc–lead–silver development project in Poland.
Rathdowney’s last press release was way back in late 2019, when it announced that its year to come would be 100 percent focused on securing a mining license for Olza.
Despite the lack of news in 2020, the company was up by 28.57 percent through last week, reaching C$0.09 by Friday.
Tethys Petroleum
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.
The most recent news from Tethys was corporate, with a new director appointment on March 4.
The company was trading at C$0.50 as of last Friday after gaining 23.75 percent over the week.
VanadiumCorp Resource
VanadiumCorp Resource is an integrated technology and mining company focused on developing the supply chain for vanadium-based energy storage and emerging technologies that utilize vanadium. It has vanadium assets in Quebec, Canada: the Lac Doré project and the Iron-T project.
The company’s most recent news was released on Thursday (March 12), with VanadiumCorp announcing the closure of a transaction for the acquisition and secured offtake of the Iron-T project.
VanadiumCorp was trading at C$0.05 by last Friday, up by 11.11 percent.
Diamond Fields Resources
Diamond Fields Resources is a junior with assets in Madagascar and Namibia, and although it has diamond in its name, its primary focus is on its Beravina zircon project in Madagascar. The company also has exposure to an offshore diamond-mining project in Namibia.
The company’s most recent news was on February 13, when it announced the completion of C$1 million in debt and equity financing.
Diamond Fields gained 7.14 percent on the TSXV through last week to reach C$0.15.
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.
Don’t forget to follow us@INN_Resource for real-time updates!
Securities Disclosure: I, Scott Tibballs, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: VanadiumCorp Resource is a client of the Investing News Network. This article is not paid-for content.
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