Last week’s top-gaining mining stocks on the TSXV were Petro Victory, Razor Energy, Purepoint Uranium, Emerita Resources and BCM Resources.

The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the decline last week, opening at 961.44 and closing the five day period at 955.23. 

Statistics Canada said last Friday (May 7) that the country’s economy lost 207,000 jobs in April due to a new round of coronavirus-related lockdowns. The loss was higher than the expected amount of 175,000.

Meanwhile, in the commodities sector, gold broke past the US$1,800 per ounce mark, while the price of copper reached a new all-time high.

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

  • Petro Victory Energy (TSXV:VRY)
  • Razor Energy (TSXV:RZE)
  • Purepoint Uranium Group (TSXV:PTU)
  • Emerita Resources (TSXV:EMO)
  • BCM Resources (TSXV:B)

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

1. Petro Victory Energy

Brazil-focused Petro Victory Energy is engaged in the acquisition, development and production of crude oil and natural gas assets. The company has working interests in 28 licenses totaling 168,433 acres in four oil-producing basins in the country, plus a royalty agreement related to a concession in Paraguay.

Last Monday (May 3), Petro Victory announced independently certified reserves for the first time ever. According to the company, its Andorinha, Carapitanga and Sao Joao oil fields have proved plus probable reserves of 2.827 million barrels of oil. Its share price rose 625 percent on the news to finish at C$2.61.

2. Razor Energy

Razor Energy is a junior oil and gas development and production company that has honed its efforts primarily on Alberta. The latest news from Razor came last Tuesday (May 4), when it announced it is entering the execution stage for its co-produced geothermal power project in Alberta.

A press release explains that Razor produces and injects large volumes of very hot water as part of its ongoing conventional oil and gas operations and waterflood activities. This hot water provides Razor subsidiary FutEra with the opportunity to capture geothermal heat energy and generate power with zero greenhouse gas emissions. Razor’s share price leaped 192.31 percent last week to finish at C$0.76.

3. Purepoint Uranium Group

Purepoint Uranium Group has 12 projects in Canada’s Athabasca Basin. Its flagship property, Hook Lake, is a joint venture with major uranium companies Cameco (TSX:CCO,NYSE:CCJ) and Orano Canada.

The most recent news from Purepoint came on April 27, when the company shared an update on plans for its Turnor Lake project. Its share price jumped 85 percent last week to close at C$0.19.

4. Emerita Resources

Emerita Resources is advancing its high-grade zinc exploration assets in North Spain, and is in the process of acquiring advanced development-stage zinc assets situated in South Spain.

There was no fresh news from the company last week, but its share price nevertheless rose 74.29 percent to finish at C$0.61. Emerita’s latest release came in mid-April, when it announced it was proceeding with a planned drill program at the Infanta deposit of its Iberia Belt West project.

5. BCM Resources

Explorer BCM Resources’ key asset is the Thompson Knolls copper-silver-gold property in the Utah portion of the Great Basin, where it has a 60 percent option agreement with Inland Explorations. Aside from that, BCM has copper, gold and molybdenum exploration projects in BC.

BCM has not released any news since the end of April, when it filed various documents on SEDAR, but last week its share price rose 52.94 percent to finish at C$0.26.

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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