5 Top Weekly TSXV Stocks: Uranium Companies Make Moves

The S&P/TSX Venture Composite Index (INDEXTSI:JX) spent the last week of March moving higher, starting the period at 941.98 and closing Thursday (April 1) at 961.19.

Gold also registered a gain for the four day session. After slipping to US$1,678 per ounce on Tuesday (March 30), the yellow metal rallied to US$1,729.10.

Silver had a less pronounced uptick, holding in the US$24 per ounce range. Uranium was another gainer as the energy fuel breached the US$30 per pound range for the first time in 2021.

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

• Rusoro Mining (TSXV:RML)
• Telson Mining (TSXV:TSN)
• CanAlaska Uranium (TSXV:CVV)
• Uranium Royalty (TSXV:URC)
• Camino Minerals (TSXC:COR)

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

1. Rusoro Mining

Gold explorer Rusoro Mining announced late last week a positive result from an ongoing case in France. On Wednesday (March 31), France’s supreme court overturned an earlier decision by the Paris Court of Appeal that had annulled a portion of previously awarded damages to Rusoro.

According to the Venezuela-focused company, the supreme court decision reinstates the arbitral award in full. The judgment is estimated to be worth US$1.5 billion, of which US$967.77 million is the original award money and US$612.23 million is accrued interest since 2016.

2. Telson Mining

Telson Mining is developing the Tahuehueto gold, silver and lead project in Mexico, which will also produce zinc concentrate. Last week, the diversified explorer closed a C$10.8 million private placement.

“Closing this private placement as the first tranche of the Accendo Syndicate recently announced US $25 million funding package now allows us to immediately reinitiate construction at Tahuehueto where Telson is targeting initial gold production near the end of 2021,” Ralph Shearing, president and CEO, said in a press release.

3. CanAlaska Uranium

Explorer CanAlaska Uranium holds interests in roughly 214,000 hectares in the prolific Athabasca Basin region of Saskatchewan. In addition to uranium exploration, the firm holds properties prospective for nickel, copper, gold and diamonds.

Last Tuesday, the company reported a letter of intent with D Block Discoveries. The move gives the latter the option to earn up to a 100 percent interest in CanAlaska’s Manibridge nickel project in Manitoba.

The announcement follows the closing of a C$3 million second tranche private placement.

4. Uranium Royalty

Uranium Royalty offers pure-play exposure to uranium companies and physical uranium.

The last week of March saw the royalty company exercise its option to purchase US$10 million of physical uranium. The initial deal was penned as part of a 2018 foundational investment in the initial public offering of Yellow Cake (LSE:YCA).

The first tranche, to be delivered by the end of April, will include 348,068 pounds of U3O8 priced at US$28.73 per pound.

5. Camino Minerals

Development company Camino Minerals is advancing the Los Chapitos copper project in Peru.

The base metals explorer ended Q1 by obtaining the Maria Cecilia porphyry complex in Peru. The acquisition is part of an investment collaboration with institutional investor Denham Capital.

Camino will pay US$4.6 million to possess all the shares and assets of Minera Maria Cecilia, including the Maria Cecilia porphyry and skarn complex.

“This is a good time in the copper cycle to partner with the new management team at Camino that has a track record of developing successful companies,” said Justin Machin, director at Denham Capital.

“Maria Cecilia is our premier copper exploration asset in Peru, and we believe that it will complement Camino’s prospective Los Chapitos and Plata Dorada projects.”

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, Georgia Williams, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: CanAlaska Uranium is a client of the Investing News Network. This article is not paid-for content.