5 Top Weekly TSXV Stocks: Sonoro Gets Ready for Green Light

- October 13th, 2019

The top-gaining stocks on the TSXV last week were Sonoro Energy, Goldbank Mining, Cordoba Minerals, Mundoro Capital and Trigon Metals.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) fell at the end of last week by 1.84 points to 540.76.

Global news was focused on the situation in Turkey, with US President Donald Trump giving the green light for the country to invade neighbouring Syria, but threatening to destroy its economy if it did anything he regarded as out of bounds according to his “great and unmatched wisdom.

In commodities, gold stayed below US$1,500 per ounce at US$1,488 Friday (October 11), while copper spent the week on a little up, reaching US$5,698 per tonne by the end of the week after starting out at US$5,625.

In companies, here are the top five gainers on the TSXV last week from the energy and resources sectors:

  • Sonoro Energy (TSXV:SNV)
  • Goldbank Mining (TSXV:GLB)
  • Cordoba Minerals (TSXV:CDB)
  • Mundoro Capital (TSXV:MUN)
  • Trigon Metals (TSXV:TM)

Read on to find out a little about what each company has been getting up to recently.

Sonoro Energy

Sonoro Energy is an oil and gas company focused on exploration and production in South East Asia, specifically Indonesia, where it has an interest in the Selat Panjang production sharing contract (PSC) in Central Sumatra with an Indonesian partner company. Sonoro has a 25 percent interest in the project, with an option for another 24 percent.

Sonoro’s most recent press release was put out in late September, an update on the Selat Panjang PSC, which Sonoro said was near final execution, according to the Indonesian government. At the time, Sonoro said it expected the contract to be finalized in the next two weeks.

On the TSXV last week, Sonoro was trading at C$0.135 after an increase of 125 percent over the previous five days of trading.

Goldbank Mining

Vancouver-based explorer and developer Goldbank Mining has assets in the Yukon, where it is focused on the Leota gold project in the Klondike region. It also owns the Hasenfuss quartz project.

The most recent news to do with Goldbank was released on October 4 on SEDAR, detailing the C$100,000 purchase of a million shares of Goldbank by Blizzard Finance, which now owns 12.85 percent of all issued and outstanding shares in the company.

In Toronto, Goldbank was trading at C$0.19 last Friday, up 72.73 percent on the previous week.

Cordoba Minerals

Toronto-based Cordoba Minerals has copper-gold projects in Colombia’s Cordoba province as well as a 25 percent interest in the Perseverance porphyry copper project in Arizona, US.

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The company announced a short-term loan from High Power Exploration (HPX) on September 25 to the tune of US$500,000 to cover general administrative activity. HPX is Cordoba’s majority shareholder.

Cordoba was trading at C$0.06 last Friday, up 50 percent over the week.

Mundoro Capital

Mundoro has interests in projects in Serbia, Bulgaria, China and Mexico with a focus on investing in gold and copper.

Recent news was released on October 7, with the company announcing an earn-in agreement with Vale (NYSE:VALE), wherein Mundoro has granted Vale an option to earn-in to four of Mundoro’s exploration licenses in the Timok magmatic complex in Serbia.

Mundoro’s share price was up by 36.36 percent last week, reaching C$0.15.

Trigon Metals

Copper-focused explorer Trigon Metals has its sights set on Namibia, where it has five licenses and a flagship asset, the Kombat copper mine.

The most recent release from Trigon was the closure of a private placement financing on September 24, with the company raising gross proceeds of C$1,360,932 to be used for initial project mobilization at Kombat.

Trigon was trading at C$0.20 last Friday after gaining 29.03 percent over the week.

Data for 5 Top TSXV Stocks articles is retrieved each Friday at 10:30 a.m. PST using The Globe and Mail’s market data filter. Only companies with a market capitalization greater than C$10 million prior to the week’s gains are included. Companies within the mining and precious metals 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.

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